diff --git a/.gitignore b/.gitignore index be219ee8405a12b3f903f429d83433dc88ad9d01..9d31c60e80e52507124c8a4620112c0b251535e2 100644 --- a/.gitignore +++ b/.gitignore @@ -1,3 +1,3 @@ templates/news.html **/__pycache__/** -news/** \ No newline at end of file +# news/** \ No newline at end of file diff --git a/news/AAPL/2023.01.02/China state media plays down severity of COVID wave before WHO meeting.txt b/news/AAPL/2023.01.02/China state media plays down severity of COVID wave before WHO meeting.txt new file mode 100644 index 0000000000000000000000000000000000000000..bdef93e1fb517fb613886345cb49dab5d21bc253 --- /dev/null +++ b/news/AAPL/2023.01.02/China state media plays down severity of COVID wave before WHO meeting.txt @@ -0,0 +1 @@ +China's abrupt U-turn on COVID controls on Dec. 7, as well as the accuracy of its case and mortality data, have come under increasing scrutiny at home and overseas and prompted some countries to impose travel curbs.The policy shift followed protests over the "zero COVID" approach championed by President Xi Jinping, marking the strongest show of public defiance in his decade-old presidency and coinciding with the slowest growth in China in nearly half a century.As the virus spreads unchecked, funeral parlours report a spike in demand for their services and international health experts predict at least one million deaths in the world's most populous country this year.China reported three new COVID deaths for Monday, up from one for Sunday. Its official death toll since the pandemic began now stands at 5,253.In an article on Tuesday, People's Daily, the official newspaper of the Communist Party, cited several Chinese experts as saying the illness caused by the virus was relatively mild for most people."Severe and critical illnesses account for 3% to 4% of infected patients currently admitted to designated hospitals in Beijing," Tong Zhaohui, Vice President of Beijing Chaoyang Hospital, told the newspaper.Kang Yan, head of West China Tianfu Hospital of Sichuan University, said that in the past three weeks, a total of 46 critically ill patients have been admitted to intensive care units, accounting for about 1% of symptomatic infections.More than 80% of those living in the southwestern Sichuan province have been infected, local health authorities said.The World Health Organization on Friday urged China's health officials to regularly share specific and real-time information on the COVID situation.The agency has invited Chinese scientists to present detailed data on viral sequencing at a meeting of a technical advisory group scheduled for Tuesday. It has also asked China to share data on hospitalizations, deaths and vaccinations.The European Union has offered free COVID vaccines to China to help contain the outbreak, the Financial Times reported on Tuesday.EU government health officials will hold talks on Wednesday on a coordinated response to China's outbreak, the Swedish EU presidency said on Monday. The United States, France, Australia, India and others will require mandatory COVID tests on travellers from China, while Belgium said it will test wastewater from planes from China for new COVID variants.China has rejected criticism of its COVID data and said any new mutations may be more infectious but less harmful."According to the political logic of some people in Europe and the United States, whether China opens or does not open is equally the wrong thing to do," state-run CCTV said in a commentary late on Monday.ECONOMIC CONCERNSAs Chinese workers and shoppers are falling ill, concerns mount about growth prospects in the world's second-largest economy, weighing on Asian stocks.Data on Tuesday showed China's factory activity shrank at a sharper pace in December as the COVID wave disrupted production and hurt demand.December shipments from Foxconn's Zhengzhou iPhone plant, disrupted late last year by a COVID outbreak that prompted worker departures and unrest, were 90% of the firm's initial plans, a source with direct knowledge of the matter said. A "bushfire" of infections in China in coming months is likely to hurt its economy this year and drag on global growth, said the head of the International Monetary Fund, Kristalina Georgieva."China is entering the most dangerous weeks of the pandemic," warned analysts at Capital Economics."The authorities are making almost no efforts now to slow the spread of infections and, with the migration ahead of Lunar New Year getting started, any parts of the country not currently in a major COVID wave will be soon."Mobility data suggested that economic activity was depressed nationwide and would likely remain so until the infection wave began to subside, they added.China's Ministry of Culture and Tourism said the domestic tourism market saw 52.71 million trips during the New Year holiday, flat year-on-year and only 43% of the 2019 levels, before the pandemic.The revenue generated was over 26.52 billion yuan ($3.84 billion), up 4% year-on-year but only about 35% of the revenue created in 2019, the ministry said.Expectations are higher for China's biggest holiday, the Lunar New Year, later this month, when some experts expect daily COVID cases to have already peaked in many parts of the country. Some hotels in the southern tourist resort of Sanya are fully booked for the period, Chinese media reported. (Reporting by Beijing and Shanghai bureaus; Writing by Marius Zaharia; Editing by Raju Gopalakrishnan)By Bernard Orr \ No newline at end of file diff --git a/news/AAPL/2023.01.02/Foxconn Zhengzhou plant's Dec shipments hit 90% of original target - source.txt b/news/AAPL/2023.01.02/Foxconn Zhengzhou plant's Dec shipments hit 90% of original target - source.txt new file mode 100644 index 0000000000000000000000000000000000000000..a075b4a8b07ace45ef1f1d634d1bd8ca93fb26eb --- /dev/null +++ b/news/AAPL/2023.01.02/Foxconn Zhengzhou plant's Dec shipments hit 90% of original target - source.txt @@ -0,0 +1 @@ +Foxconn declined to comment. The world's largest iPhone manufacturing facility was hit late last year by a COVID-19 outbreak that prompted worker departures and unrest as well as production disruptions. (Reporting by Yimou Lee in Taipei, Writing by Brenda Goh; Editing by Christian Schmollinger) \ No newline at end of file diff --git a/news/AAPL/2023.01.02/Foxconn's COVID-hit China plant close to resuming full production -sources.txt b/news/AAPL/2023.01.02/Foxconn's COVID-hit China plant close to resuming full production -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..50755c2c24202bd7f6d3af4cca75e1540ef5e5fc --- /dev/null +++ b/news/AAPL/2023.01.02/Foxconn's COVID-hit China plant close to resuming full production -sources.txt @@ -0,0 +1,32 @@ +TAIPEI, Jan 3 (Reuters) - Foxconn's COVID-hit iPhone +plant in China's Zhengzhou city is almost back to full +production, with its December shipments reaching about 90% of +initial plans, two people with direct knowledge of the matter +said.Foxconn, formally Hon Hai Precision Industry Co Ltd +, declined to comment.Production at the world's largest manufacturing facility of +Apple Inc's iPhones was heavily affected late last year +after a COVID-19 outbreak and curbs taken to control the virus +prompted thousands of workers to leave. It was also hit by a +bout of worker unrest over payment issues.Foxconn has been offering bonuses to attract new workers and +convince those still there to stay on. A company source told +Reuters last month that it was aiming for the plant to resume +full production around late December to early January."Production has almost fully resumed," said one of the +people on Tuesday, who declined to be identified as the +information was private.The second person said production was nearly back to normal +but that company officials remained cautious over the outlook +due to a spike of COVID-19 cases across China."We expect a peak for cases before or after the Lunar New +Year holiday," the person said, referring to the week-long break +that starts on Jan 21. "We don't know if that will cause any +issues."On Saturday, the government-owned broadcaster of Henan +province, where the plant is located, quoted an executive from +the factory as saying that the plant's workforce was currently +stable at 200,000 staff and that it had also stabilised its +supply chain, enabling production capacity to recover.The plant is able to accommodate as many as 300,000 workers.The Zhengzhou plant's troubles highlighted the difficulties +companies and workers had in adhering to China's zero-COVID-19 +policy.The central government in early December, after +Foxconn's woes and a string of protests over the policy, +abruptly dropped the policy to adopt a strategy of living with +the virus. The move was greeted by widespread relief but has +also precipitated a wave of infections across the country. +(Reporting by Yimou Lee in Taipei; Writing by Brenda Goh; +Editing by Christian Schmollinger and Christopher Cushing) \ No newline at end of file diff --git a/news/AAPL/2023.01.02/No Easy Way Out : The Challenges In Diversifying Your Supply Chain.txt b/news/AAPL/2023.01.02/No Easy Way Out : The Challenges In Diversifying Your Supply Chain.txt new file mode 100644 index 0000000000000000000000000000000000000000..96c4484954efaafab915fd5dfd1b55ad28fb33f3 --- /dev/null +++ b/news/AAPL/2023.01.02/No Easy Way Out : The Challenges In Diversifying Your Supply Chain.txt @@ -0,0 +1,11 @@ +Increased tensions between the two largest economies, a recent war, and a pandemic have caused the economic and geopolitical world order to shift. These tensions have increased supply chain risks and caused companies to evaluate strategies that reduce reliance on certain regions. It is a tall task for any economy in the world, and especially for the US, which for example is reliant on China for over half a trillion dollars of imported goods in 2021.Apple Inc. is a highly visible example of the risk that companies assume by overrelying on non-localized production. That strategy will cost Apple an estimated 6 million units of lost iPhone sales in 2022 given recent factory shutdowns, and Apple is certainly not alone.Diversifying the supply chain comes with benefits, but is no easy task. It is frequently a costly endeavor, increasing the cost of goods and requiring significant investment. If it were more profitable and efficient, more companies would implement it. Below are some of the key areas to watch out for while reshoring production or diversifying your supplier base.1. Where are my suppliers' suppliers?Let's say Walmart wants to buy more US-manufactured stuffed animals. If the eyeballs, nose, fabric, and stuffing are all made in India, has Walmart reduced its reliance on India? The supply chain of a finished good is dependent on the production location of all its components and raw materials. Moving finished good production further away from component production frequently adds complexity and cost, even if closer to the end market.2. Is the global transportation and power infrastructure in place?China has tremendous rail and port infrastructure that enables it to efficiently move goods from the factory floor to the world. Other regions of the world don't possess the excess port and rail capacity required to efficiently absorb additional production. That doesn't mean you can't move your supply chain to those regions; it just becomes even more vital that your logistics team finds the right local partners that reliably operate in the area.Additionally, many parts of the globe are not able to supply the population centers that might be ideally suited for a factory with reliable electricity and gas. This adds risk of lost production. Significant investment is required to build a strong infrastructural ecosystem, and that investment usually requires government support.3. Can my organization manage a diversified supply chain?Companies have made significant investments into their organizations to build the technical know-how required to manage a single source supply chain—whether that be supplier quality or purchasing department. That organizational know-how would have to be duplicated in more regions.4. Can I find people to work in my factories?Labor shortages in the US have been well-documented. Finding skilled employees to fill up a factory in the US is a challenge. Fed Chair Jerome Powell recently mentioned many disruptive factors in the labor market such as pandemic deaths, early retirements, and lower immigration. Furthermore, labor is not as plentiful as you might assume in certain low-cost countries such as Vietnam and Mexico. Vietnam has a 2% unemployment rate and Mexico a 4% rate. If you want employees in these countries, be prepared to offer competitive wages or operate with greater efficiency using automation.5. Can I find space to build my factory?There is currently a 3% vacancy rate for industrial real estate in the United States, which is a historically low figure. If you want space, be prepared to outbid your competitors for an expensive lease or put on your hard hat. If you decide to invest in a new building, don't expect it soon due to global supply chain issues for building materials.6. Am I willing to absorb increased inventory?Companies that diversify their supply chain must financially and operationally be prepared to manage the complexity of more inventory piles around the globe.In conclusion, supplier diversification is beneficial to obtain control and maintain continuous supply, but it comes with huge investments, upskilling, and added costs in a competitive environment. It is crucial for companies to ensure people, processes, and systems are upgraded and a detailed actionable plan is in place when ready to execute.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Akshay Balachandran +AlixPartners +909 3rd Ave +New York +NY 10022 +UNITED STATES +Fax: 2070987401 +E-mail: bokelly@alixpartners.com +URL: www.alixpartners.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AAPL/2023.01.03/APPLE INC : Gets a Buy rating from JP Morgan.txt b/news/AAPL/2023.01.03/APPLE INC : Gets a Buy rating from JP Morgan.txt new file mode 100644 index 0000000000000000000000000000000000000000..c8a464eaafab4fdb353e7d83ab9afb3f8384ba61 --- /dev/null +++ b/news/AAPL/2023.01.03/APPLE INC : Gets a Buy rating from JP Morgan.txt @@ -0,0 +1 @@ +In a research note published by Samik Chatterjee, JP Morgan advises its customers to buy the stock. The target price remains unchanged at USD 190. \ No newline at end of file diff --git a/news/AAPL/2023.01.03/Apple's market value falls below $2 trillion for the first time since 2021.txt b/news/AAPL/2023.01.03/Apple's market value falls below $2 trillion for the first time since 2021.txt new file mode 100644 index 0000000000000000000000000000000000000000..c2ba7de2f1bf06a764bd841905eec75913653c04 --- /dev/null +++ b/news/AAPL/2023.01.03/Apple's market value falls below $2 trillion for the first time since 2021.txt @@ -0,0 +1 @@ +Apple was the first company to hit $3 trillion in market value on Jan. 3 last year.Exane BNP Paribas analyst Jerome Ramel downgraded Apple to "neutral" from "outperform" with a price target cut to $140 from $180, according to a report by thefly.com. The iPhone maker's shares were down about 4% at $124.65. (Reporting by Nivedita Balu in Bengaluru; Editing by Arun Koyyur) \ No newline at end of file diff --git a/news/AAPL/2023.01.03/Apple's stock market value falls below $2 trillion.txt b/news/AAPL/2023.01.03/Apple's stock market value falls below $2 trillion.txt new file mode 100644 index 0000000000000000000000000000000000000000..28c021fd1f0e352f68f639594669f39b73f37c73 --- /dev/null +++ b/news/AAPL/2023.01.03/Apple's stock market value falls below $2 trillion.txt @@ -0,0 +1,35 @@ +Jan 3 (Reuters) - Apple Inc's stock market +value shrank sharply on Tuesday following its steep drop last +year, leaving it below $2 trillion for the first time since +March 2021.The sell-off came a year after the iPhone maker became the +first company to reach the $3 trillion market capitalization +milestone.Apple's shares declined 3.7% to $125.07 after Exane BNP +Paribas analyst Jerome Ramel downgraded the company to "neutral" +from "outperform," slashing his price target to $140 from $180, +according to Refinitiv Eikon.Also exacerbating investors' worries that a slowing +global economy and high inflation may be hurting demand for +Apple devices, Nikkeireported, citing unnamed suppliers, that Apple has told suppliers to +manufacture fewer parts for its ear buds, watches and laptops.The drop in Apple's share price put its market +capitalization at $1.99 trillion.Ramel cut his iPhone shipment targets for fiscal 2023 to 224 +million units from 245 million units, reflecting supply chain +issues from manufacturer Foxconn and consumers cutting back +spending on high-end phones.At Apple's current stock price, the company's value is just +ahead of Microsoft Corp, valued at about $1.8 trillion.With investors worried about consumer demand, analysts on +average expect the Cupertino, California company to report a 1% +drop in December-quarter revenue in the coming weeks, according +to Refinitiv. That would mark Apple's first quarterly revenue +decline since the March quarter of 2019."They (Apple) tend to skew to the high-end consumer device +customer but even that demographic might be being affected by +the high price of everything," Bokeh Capital Partners' Kim +Forrest said.Last year's steep sell-off on Wall Street punished +tech-related heavyweights as investors worried about rising +interest rates dumped stocks with high valuations.The combined stock market value of Apple, Microsoft, +Amazon.com Inc, Alphabet Inc and Meta +Platforms now accounts for about 18% of the S&P 500, +down from as much as 24% in 2020.Even after its 27% drop last year, Apple has provided +stellar returns to long-term shareholders. Investors who bought +and held Apple shares when cofounder Steve Jobs launched the +iPhone in 2007 have enjoyed a gain of over 4,000%, not including +dividends, compared to a 180% gain in the S&P 500 over the same +period.(Reporting by Nivedita Balu in Bengaluru; Editing by Arun +Koyyur and Richard Chang) \ No newline at end of file diff --git a/news/AAPL/2023.01.03/Asian equities rise, dollar sways as focus firmly on Fed minutes.txt b/news/AAPL/2023.01.03/Asian equities rise, dollar sways as focus firmly on Fed minutes.txt new file mode 100644 index 0000000000000000000000000000000000000000..f41a11dae59bd5ed2d4a35281b9eb1b687b91360 --- /dev/null +++ b/news/AAPL/2023.01.03/Asian equities rise, dollar sways as focus firmly on Fed minutes.txt @@ -0,0 +1 @@ +MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.91%, set for a third straight day of gains for the year. The index fell 20% in 2022. Japan's Nikkei lost 1.12% in early trade, while Australia's S&P/ASX 200 index rose 1.28%.Overnight, Wall Street's main indexes closed lower with the biggest drags from Tesla and Apple as U.S. equities make a slow start to the year after their steepest annual losses since 2008 in 2022. [.N] China's stocks opened flat, while Hong Kong's Hang Seng Index opened roughly 1% higher. Investors have pinned their hopes on a swift post-COVID era recovery in China after the country started dismantling strict curbs. "The market has made a pretty tentative start to the year ... (and) is still grappling with the notion of what we are going to see from the Fed this year," said Rob Carnell, head of ING's Asia-Pacific research."There are two camps out there and they are wrestling for dominance in terms of the view. Some days higher-for-longer wins some days higher-then-lower camp wins," Carnell said.Minutes from the Fed's December meeting, when it cautioned rates may need to remain higher for longer, are due to be released later on Wednesday.Investors will parse the minutes to figure out whether more policy tightening is likely.Markets are pricing in rate cuts for late 2023, with fed fund futures implying a range of 4.25% to 4.5% by December.Investors will get a better picture of the U.S. labour market this week, with several pieces of data scheduled in the week, culminating in the employment report on Friday. A weakening jobs market is seen as one of the key pieces needed to convince the Fed to begin slowing its monetary tightening path."It is too early to start betting on a Fed pivot this year and that should make this difficult environment for stocks," said Edward Moya, senior market analyst at Oanda in New York. In the currency market, the euro was up 0.14% to $1.0561 in early Asian hours, not far off its three-week lows of $1.0519 it touched overnight. A surprise slowdown in German inflation rallied bunds and sent the common currency sliding.The dollar index, which measures the greenback against six other currencies fell 0.162% after rising 1% overnight. Sterling was last trading at $1.1983, up 0.14% on the day. The pound fell 0.7% overnight.The yield on 10-year Treasury notes was down 5.7 basis points to 3.735%, while the yield on the 30-year Treasury bond was down 4.5 basis points to 3.846%. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 3.7 basis points at 4.368%.Oil prices steadied on Wednesday after diving 4.1% on Tuesday, the largest daily decline in more than three months, weighed by weak demand data from China, a gloomy economic outlook and a stronger U.S. dollar.U.S. crude was 0.08% lower at $76.87 per barrel and Brent was at $82.13, up 0.04% on the day. [O/R] (Reporting by Ankur Banerjee; Editing by Sam Holmes)By Ankur Banerjee \ No newline at end of file diff --git a/news/AAPL/2023.01.03/Dollar jumps, U.S. stocks buck global rally.txt b/news/AAPL/2023.01.03/Dollar jumps, U.S. stocks buck global rally.txt new file mode 100644 index 0000000000000000000000000000000000000000..e351f558a02fe015853f125a0c1d5097c53ad91b --- /dev/null +++ b/news/AAPL/2023.01.03/Dollar jumps, U.S. stocks buck global rally.txt @@ -0,0 +1,73 @@ +*Global shares edge up, but Wall Street drops*Correlation with dollar softens*Yen takes a breather from recent rallyLONDON/NEW YORK, Jan 3 (Reuters) - The dollar jumped on +Tuesday as oil prices sank, while U.S. stocks bucked a global +equities rally in a macro-packed week that could offer a steer +on when and where U.S. interest rates might peak.The MSCI All-World index fell 0.2%, dragged +by losses in U.S. stocks. The Dow Jones Industrial Average +ended little changed, the S&P 500 dropped 0.4%, +and the Nasdaq Composite lost 0.76%.Losses in U.S. stocks were led by a 12.2% tumble in +electric-vehicle maker Tesla after it missed Wall +Street estimates for quarterly deliveries. IPhone maker Apple +Inc dropped 3.7% to its lowest since June 2021 +following a rating downgrade due to production cuts in China.The U.S. dollar firmed ahead of Wednesday's release +of the minutes from the Federal Reserve's last meeting, with +expectations they will signal more policy tightening is in +store.A higher dollar walloped oil prices, which also took a +beating from concerns about slowing global economic growth, +especially after data showed China's factory activity shrank in +December."We expect the December FOMC minutes to shed additional +light on Fed officials' policy views for 2023. Note that at the +meeting, the Committee signalled broad expectations for a +substantially higher terminal rate this year," analysts at TD +Securities said in a note.The dollar index jumped 0.94% to 104.64.The euro was the worst-performing currency against the +dollar, falling by the most since late September, +after German regional inflation data showed consumer price +pressures eased sharply in December, thanks in large part to +government measures to contain natural gas bills for households +and businesses.Data on U.S. payrolls this week is expected to show the +labour market remains tight, while EU consumer prices could show +some slowdown in inflation as energy prices ease."Energy base effects will bring about a sizeable reduction +in inflation in the major economies in 2023, but stickiness in +core components, much of this stemming from tight labour +markets, will prevent an early dovish policy 'pivot' by central +banks," analysts at NatWest Markets wrote in a note.They expect interest rates to top out at 5% in the United +States, 2.25% in the EU and 4.5% in Britain and to stay there +for the entire year. Markets, on the other hand, are pricing in +rate cuts for late 2023, with fed fund futures implying +a range of 4.25% to 4.5% by December."The thing that makes me nervous about this year is that we +still do not know the full impact of the very significant +monetary tightening that's taken place across the advanced +world," Berenberg Senior Economist Kallum Pickering said."It takes a good year, or 18 months, for the full effect to +kick in," he said.Central banks have expressed concern about rising wages, +even as consumers have struggled to keep up with the soaring +cost of living and companies are running out of room to protect +their profitability by raising their own prices.However, said Pickering, the labour market tends to lag the +broader economy by some time, meaning there is a risk that +central banks could be raising interest rates by more than the +economy can withstand."What central banks are inducing is essentially excess +cyclicality, which is - they overstimulated in 2021 and +triggered an inflationary boom and then overtightened in 2022 +and triggered a disinflationary recession. It’s exactly the +opposite of what you want central banks to do," he said.EUROPEAN SHARES RALLYOn the markets, European shares rose thanks to gains in +classic defensive sectors, such as healthcare and food and +beverages. Drugmakers Novo Nordisk, Astrazeneca +and Roche were among the biggest positive +weights on the STOXX 600, along with NestleThe STOXX, which lost 13% in 2022, rose 1.2%. The FTSE 100 +, the only major European index not to trade on Monday, +rose 1.4%.Markets have for a while priced in an eventual U.S. easing, +but they were badly wrong-footed by the Bank of Japan's shock +upward shift in its ceiling for bond yields.The BOJ is now considering raising its inflation forecasts +in January to show price growth close to its 2% target in fiscal +2023 and 2024, according to the Nikkei.Such a move at its next policy meeting on Jan. 17-18 would +only add to speculation of an end to ultra-loose policy, which +has essentially acted as a floor for bond yields globally.The policy shift has boosted the yen across the board, with +the dollar losing 5% in December and the euro 2.3%.The yen took a breather on Tuesday, easing 0.3% against the +dollar to 130.895. The dollar earlier touched a six-month low of +129.52 yen.Oil succumbed to the strength of the dollar, and concern +about demand in China, the world's second-largest economy, added +to the downward momentum.A batch of surveys has shown China's factory activity shrank +at the sharpest pace in nearly three years as COVID infections +swept through production lines."China is entering the most dangerous weeks of the +pandemic," warned analysts at Capital Economics.Brent crude lost 4.2% to settle at $82.10 a barrel.(Reporting by Koh Gui Qing in New York and Amanda Cooper in +London +Additional reporting by Wayne Cole in Sydney +Editing by Andrea Ricci and Matthew Lewis) \ No newline at end of file diff --git a/news/AAPL/2023.01.03/Dollar posts big gains, U.S. stocks buck global rally.txt b/news/AAPL/2023.01.03/Dollar posts big gains, U.S. stocks buck global rally.txt new file mode 100644 index 0000000000000000000000000000000000000000..43c0ee7d13f23b73106078e74db9dc6ec278a21e --- /dev/null +++ b/news/AAPL/2023.01.03/Dollar posts big gains, U.S. stocks buck global rally.txt @@ -0,0 +1,70 @@ +*Global shares edge up, but Wall Street drops*Correlation with dollar softens*Yen takes a breather from recent rallyLONDON/NEW YORK, Jan 3 (Reuters) - The dollar jumped on +Tuesday as oil prices sank, while U.S. stocks bucked a global +equities rally in a macro-packed week that could offer a steer +on when and where U.S. interest rates might peak.The MSCI All-World index fell 0.5%, dragged +by losses in U.S. stocks. The Dow Jones Industrial Average +lost 0.64%, the S&P 500 dropped 0.9%, and the +Nasdaq Composite lost 1.3%.Losses in U.S. stocks were led by a 14.7% tumble in +electric-vehicle maker Tesla after it missed Wall +Street estimates for quarterly deliveries. iPhone maker Apple +Inc dropped 4.3% to its lowest since June 2021 +following a rating downgrade due to production cuts in China.The U.S. dollar firmed ahead of Wednesday's +release of the minutes from the Federal Reserve's last meeting, +with expectations they will signal more policy tightening is in +store.A higher dollar walloped oil prices, which also took a +beating from concerns about slowing global economic growth, +especially after data showedChina's factory activity shrank in December."We expect the December FOMC minutes to shed additional +light on Fed officials' policy views for 2023. Note that at the +meeting, the Committee signalled broad expectations for a +substantially higher terminal rate this year," analysts at TD +Securities said in a note.The dollar index jumped 0.97% to 104.66.The euro was the worst-performing currency against the +dollar, falling by the most since late September, +after German regional inflation data showed consumer price +pressures eased sharply in December, thanks in large part to +government measures to contain natural gas bills for households +and businesses.Data on U.S. payrolls this week is expected to show the +labour market remains tight, while EU consumer prices could show +some slowdown in inflation as energy prices ease."Energy base effects will bring about a sizeable reduction +in inflation in the major economies in 2023, but stickiness in +core components, much of this stemming from tight labour +markets, will prevent an early dovish policy 'pivot' by central +banks," analysts at NatWest Markets wrote in a note.They expect interest rates to top out at 5% in the United +States, 2.25% in the EU and 4.5% in Britain and to stay there +for the entire year. Markets, on the other hand, are pricing in +rate cuts for late 2023, with fed fund futures implying +a range of 4.25% to 4.5% by December."The thing that makes me nervous about this year is that we +still do not know the full impact of the very significant +monetary tightening that's taken place across the advanced +world," Berenberg Senior Economist Kallum Pickering said."It takes a good year, or 18 months, for the full effect to +kick in," he said.Central banks have expressed concern about rising wages, +even as consumers have struggled to keep up with the soaring +cost of living and companies are running out of room to protect +their profitability by raising their own prices.But, Pickering said, the labour market tends to lag the +broader economy by some time, meaning that there is a risk that +central banks could be raising interest rates by more than the +economy can withstand."What central banks are inducing is essentially excess +cyclicality, which is - they overstimulated in 2021 and +triggered an inflationary boom and then overtightened in 2022 +and triggered a disinflationary recession. It’s exactly the +opposite of what you want central banks to do," he said.EUROPEAN SHARES RALLYOn the markets, European shares rose thanks to gains in +classic defensive sectors, such as healthcare and food and +beverages. Drugmakers Novo Nordisk, Astrazeneca +and Roche were among the biggest positive +weights on the STOXX 600, along with NestleThe STOXX, which lost 13% in 2022, rose 1.2%. The FTSE 100 +, the only major European index not to trade on Monday, +rose 1.4%.Markets have for a while priced in an eventual U.S. easing, +but they were badly wrong-footed by the Bank of Japan's shock +upward shift in its ceiling for bond yields.The BOJ is now considering raising its inflation forecasts +in January to show price growth close to its 2% target in fiscal +2023 and 2024, according to the Nikkei.Such a move at its next policy meeting on Jan. 17-18 would +only add to speculation of an end to ultra-loose policy, which +has essentially acted as a floor for bond yields globally.The policy shift has boosted the yen across the board, with +the dollar losing 5% in December and the euro 2.3%.The yen took a breather on Tuesday, easing 0.4% against the +dollar to 130.69. The dollar earlier touched a six-month low of +129.52 yen.Oil succumbed to the strength of the dollar, and concern +about demand in China, the world's second-largest economy, added +to the downward momentum.A batch of surveys has shown China's factory activity shrank +at the sharpest pace in nearly three years as COVID infections +swept through production lines."China is entering the most dangerous weeks of the +pandemic," warned analysts at Capital Economics.Brent crude lost 3% to trade around $83.32 a barrel.(Reporting by Wayne Cole; Editing by Bradley Perrett, Sam +Holmes, Chizu Nomiyama and Andrea Ricci) \ No newline at end of file diff --git a/news/AAPL/2023.01.03/Japan's Nikkei hits over 3-month low tracking subdued Wall Street.txt b/news/AAPL/2023.01.03/Japan's Nikkei hits over 3-month low tracking subdued Wall Street.txt new file mode 100644 index 0000000000000000000000000000000000000000..771bef7354edfd3ffc66e917140a84df18e057f5 --- /dev/null +++ b/news/AAPL/2023.01.03/Japan's Nikkei hits over 3-month low tracking subdued Wall Street.txt @@ -0,0 +1,26 @@ +TOKYO, Jan 4 (Reuters) - Japan's Nikkei share average +hit a more than three-month low on the first day of trading +session of 2023 on Wednesday, tracking Wall Street's weak finish +overnight, while the yen's strength against the dollar also +weighed on sentiment.The Nikkei lost 1.42% to 25,742.66 by the midday +break, its lowest level since Oct. 3. The broader Topix +lost 1.02% to 1,872.43. +Wall Street's main indexes closed lower overnight with the +biggest drags from Tesla and Apple, while investors worried +about the U.S. Federal Reserve's interest-rate hiking path as +they awaited minutes from its December policy meeting.In Japan, clothing brand Uniqlo's owner Fast Retailing +lost 2.11% , dragging the Nikkei the most, while chip +testing equipment maker Advantest fell 2.24%. +Drugmakers Daiichi Sankyo tanked 5.69% and Eisai +slipped 6.31%.On top of Wall Street weakness, the yen's gain against the +dollar also weighed on investor sentiment, Maki Sawada, +strategist at Nomura Securities, told reporters.The yen rose to a seven-month high against the greenback on +Tuesday on rising expectations that the Bank of Japan might move +away from its ultra-easy monetary policy.All but three industry sub-indexes fell. The banking sector +jumped 2.86% to become the top gainer among the 33 +industry groups, and insurance firms gained 0.8%. +The brokerage sector inched up 0.07%.Of the 225 Nikkei components, 31 stocks rose while 194 +declined.The volume of shares traded on the Tokyo Stock Exchange's +main board was 0.68 billion, compared to the average of 1.18 +billion in the last 30 days. +(Reporting by Junko Fujita; Editing by Rashmi Aich) \ No newline at end of file diff --git a/news/AAPL/2023.01.03/MarketScreener's World Press Review: January 3rd, 20...txt b/news/AAPL/2023.01.03/MarketScreener's World Press Review: January 3rd, 20...txt new file mode 100644 index 0000000000000000000000000000000000000000..2f783d6485799eccdf8a55ecfbd73438af2f7c0a --- /dev/null +++ b/news/AAPL/2023.01.03/MarketScreener's World Press Review: January 3rd, 20...txt @@ -0,0 +1,9 @@ + +RTL, ITV,  Mediaset, Warner Bros Discovery, Disney, Netflix, Shopify & Apple, Tesla, General Electric, GE Healthcare, Southwest Airlines, Exxon Mobil, Chevron, TG Therapeutics, Meta, Panasonic, Top Glove feature in this press review! + + + + + +  +  diff --git a/news/AAPL/2023.01.03/Marketmind: Every picture Tesla story.txt b/news/AAPL/2023.01.03/Marketmind: Every picture Tesla story.txt new file mode 100644 index 0000000000000000000000000000000000000000..e49079b1b7ff803e57bee67853352965be812e08 --- /dev/null +++ b/news/AAPL/2023.01.03/Marketmind: Every picture Tesla story.txt @@ -0,0 +1 @@ +If the first proper global trading day of 2023 offers any clue on how the following 12 months will unfold, buckle up. The fairly upbeat mood in Asia and Europe was crushed in U.S. hours as another collapse in Tesla Inc shares dragged tech lower, soured risk appetite, and prompted defensive flows into Treasuries and the dollar. Equity, bond and currency volatility rose also, and the negative close on Wall Street will likely set the tone for Asia's open on Wednesday. Tech investors, in particular, should brace themselves.Tesla plunged as much as 15% on Tuesday after it missed Wall Street estimates for quarterly deliveries, and the company has lost almost 75% of its market cap in barely over a year. iPhone maker Apple Inc dropped to its lowest since June 2021 and its market cap dipped below $2 trillion.Hong Kong's Hang Seng tech index kicked off the year with a stellar 2.5% rise on Tuesday and the MSCI Asia tech index has advanced three days in a row, its best run in a month. But all that seems poised to reverse on Wednesday. Rising interest rates was the scythe that cut tech off at the knees last year as the U.S. Federal Reserve embarked on the most aggressive tightening cycle in 40 years. The cycle may be drawing to a close, but the Fed may yet surprise on the upside this year.Job openings on Wednesday and non-farm payrolls on Friday will give the most up-to-date pulse of the U.S. labor market. Solid numbers, including wage growth, could tilt expectations for next month's policy meeting back up to a 50 basis point hike from 25 bps.Before that, the Fed on Wednesday releases the minutes of its Dec. 13-14 policy meeting. Global financial conditions - across developed and emerging markets - have tightened since then, according to Goldman Sachs. Its U.S. financial conditions index has risen some 40 bps, mainly due to higher long rates and lower equities.If global tech and equity bulls are to get any traction, easing financial conditions and central bank rate hike expectations will have to set in first. Three key developments that could provide more direction to markets on Wednesday: - India S&P Global services PMI (December)- U.S. Fed policy meeting minutes - U.S. 'JOLTS' job openings (November) (Reporting by Jamie McGeever in Orlando, Fla.; Editing by Marguerita Choy)By Jamie McGeever \ No newline at end of file diff --git a/news/AAPL/2023.01.03/Nvidia, Foxconn to build autonomous vehicle platforms.txt b/news/AAPL/2023.01.03/Nvidia, Foxconn to build autonomous vehicle platforms.txt new file mode 100644 index 0000000000000000000000000000000000000000..c0e08b7363018f5d8b09a899d06c56ab55e9ac17 --- /dev/null +++ b/news/AAPL/2023.01.03/Nvidia, Foxconn to build autonomous vehicle platforms.txt @@ -0,0 +1 @@ +Taiwanese contract manufacturer Foxconn said it will manufacture electronic control units (ECUs) for cars based on Nvidia's DRIVE Orin chip made specifically for computing in connected and autonomous vehicles.The ECUs will serve the global automotive market, Foxconn said.Nvidia sees a market opportunity of $300 billion in the automotive sector and reported revenue of $251 million in the third quarter from the segment.The chipmaker said the tie-up will allow it to scale efforts to meet growing demand for chips made for autonomous and connected vehicles. Foxconn, which operates a vehicle manufacturing facility in Ohio, said its vehicles will contain ECUs based on DRIVE Orin and Nvidia's DRIVE Hyperion sensors for autonomous driving.Foxconn makes electric vehicles for Lordstown Motors Corp and has a contract to make Fisker Inc's second car model, PEAR. It also manufactures Apple Inc's products. (Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli) \ No newline at end of file diff --git a/news/AAPL/2023.01.03/Stocks start 2023 with a dip; Apple, Tesla shares drag.txt b/news/AAPL/2023.01.03/Stocks start 2023 with a dip; Apple, Tesla shares drag.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d644fca97858ed5449bca748fbef5824997f4ea --- /dev/null +++ b/news/AAPL/2023.01.03/Stocks start 2023 with a dip; Apple, Tesla shares drag.txt @@ -0,0 +1 @@ +The Dow ended about flat. The S&P 500 finished four tenths of a percent lower, while the Nasdaq ended down about three quarters of a percent.Investors are awaiting minutes from the Fed's December meeting due on Wednesday for clues about how aggressive the central bank might be with monetary policy tightening this year and whether it might trigger a recession.Dan Wantrobski is associate director of research at Janney Montgomery Scott."What's driving the down move in the stock markets today is reassessment on how severe a recession can be in the U.S., based on what we've seen out of Fed policy thus far. I think traders are starting to reevaluate, you know, how severe the type of recession that the Fed is trying to engineer here. And a lot is going to depend on labor data that comes out, wage gains, employment data, as well as other things like ISM production numbers, PPI and of course, CPI. So I think until you get more clarity around that, we could continue to see higher volatility in the markets and more kind of this rangebound trading that they're setting us up with today."Shares of Tesla hit their lowest level since August 2020, falling more than 12% on Tuesday, extending a steep decline in 2022 after Elon Musk's electric vehicle maker missed Wall Street estimates for quarterly deliveries. Energy stocks, which saw stellar gains in 2022, started the year in the red as oil prices fell on bleak business activity data from China.And shares of Apple slumped, closing below the $2 trillion valuation mark for the first time since March 2021, after a report from Nikkei Asia pointed to weaker demand. \ No newline at end of file diff --git a/news/AAPL/2023.01.03/Wall St falls in 2023 trading kick-off; Apple, Tesla shares drag.txt b/news/AAPL/2023.01.03/Wall St falls in 2023 trading kick-off; Apple, Tesla shares drag.txt new file mode 100644 index 0000000000000000000000000000000000000000..ebf18f43c7510808101dcf2570a2837a97d5d04f --- /dev/null +++ b/news/AAPL/2023.01.03/Wall St falls in 2023 trading kick-off; Apple, Tesla shares drag.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tesla shares plunge on Q4 deliveries miss*Apple hits lowest level since June 2021*Indexes down: Dow 0.56%, S&P 0.81%, Nasdaq 1.09%Jan 3 (Reuters) - Wall Street's main indexes dropped on +the first trading day of 2023 with big drags from Tesla and +Apple, while investors worried about the Federal Reserve's +interest-rate hiking path as they awaited minutes from its +December meeting.Shares in electric vehicle maker Tesla Inc were +down 13%, making it Nasdaq's biggest percentage decliner after +missing Wall Street estimates for quarterly deliveries. iPhone +maker Apple Inc was down 4% after hitting its lowest +level since June 2021 following an analyst rating downgrade due +to production cuts in China.Consumer discretionary and technology stocks +slipped more than 1% each.The energy sector, which logged stellar gains in +2022, slid more than 4%, tracking lower oil prices on bleak +business activity data from China and concerns about the outlook +for the global economy..The main U.S. stock indexes had ended 2022 with their +steepest annual losses since 2008 following the Fed's fastest +pace of rate hikes since the 1980s to stamp out decades-high +inflation."Even though the calendar has changed, a lot of the main +issues for the market have not, specifically with the Federal +Reserve tightening monetary policy as it's still concerned about +inflation," said Chris Zaccarelli, chief investment officer at +Independent Advisor Alliance in Charlotte, North Carolina."We're in a bear market. Negative is the default reaction to +everything," he said. "Until the Fed really changes their tone, +it's an uphill battle for the market."By 2:22 p.m. ET, the Dow Jones Industrial Average had +fallen 186.41 points, or 0.56%, to 32,960.84; the S&P 500 +had lost 31.1 points, or 0.81%, to 3,808.4; and the Nasdaq +Composite had dropped 114.14 points, or 1.09%, to +10,352.35.The S&P 500 shed 19.4% in 2022, marking a roughly $8 +trillion decline in market capitalization, while the Nasdaq fell +33.1%, dragged down by growth stocks.Investors on Wednesday will closely monitor the minutes of +the Fed's December policy meeting, when the central bank raised +interest rates by 50 basis points after four straight 75 basis +points hikes, and signaled rates could stay higher for longer.Other economic data due this week includes the ISM +manufacturing report, also on Wednesday, and December's jobs +report on Friday.Weakness in the labor market could give the Fed a reason to +ease its monetary policy tightening, but the data so far has +shown the market remains tight despite rate hikes.Money market participants see a 68% chance the Fed will +raise the benchmark rate by 25 basis points to 4.50% to 4.75% in +February, with the rates peaking at 4.98% by June.In other equity market action, U.S.-listed Chinese firms +such as Alibaba Group Holding Ltd, JD.com Inc +and Pinduoduo Inc rose between 1% and 5% on +post-COVID-19 recovery hopes.Advancing issues outnumbered declining ones on the NYSE by a +1.10-to-1 ratio; on Nasdaq, a 1.01-to-1 ratio favored decliners.The S&P 500 posted one new 52-week high and five new lows; +the Nasdaq Composite recorded 83 new highs and 44 new lows. +(Reporting by Sinéad Carew in New York; Shubham Batra, Ankika +Biswas and Amruta Khandekar in Bengaluru; Editing by Shounak +Dasgupta, Arun Koyyur and Jonathan Oatis) \ No newline at end of file diff --git a/news/AAPL/2023.01.03/Wall St falters at start of 2023 as Apple, Tesla shares fall.txt b/news/AAPL/2023.01.03/Wall St falters at start of 2023 as Apple, Tesla shares fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..d3f0e45b6d7f4890a1674fba9edffe724ead0598 --- /dev/null +++ b/news/AAPL/2023.01.03/Wall St falters at start of 2023 as Apple, Tesla shares fall.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tesla drops on Q4 deliveries miss*Apple hits lowest since June 2021*Indexes down: Dow 0.58%, S&P 0.85%, Nasdaq 1.26%Jan 3 (Reuters) - Wall Street's main indexes dropped on +the first trading day of 2023 due to heavy losses in Tesla and +Apple, while investors awaited minutes from the last policy +meeting of the Federal Reserve for more clarity on the path of +interest rate hikes.The electric-vehicle maker fell 13.7% after missing +Wall Street estimates for quarterly deliveries and iPhone maker +Apple Inc dropped 3.9% to its lowest since June 2021 +following a rating downgrade due to production cuts in China.Consumer discretionary and technology stocks +slipped more than 1% each.The energy sector, which logged stellar gains in +2022, slid 2.7%, tracking lower oil prices on bleak business +activity data from China and concerns about the outlook for the +global economy amid recession worries..Other rate-sensitive technology and growth stocks such as +Alphabet Inc, Meta Platforms Inc and +Amazon.com Inc were up between 0.9% and 2.9%."The market, like today, is not very much about fundamentals +or news, it's more about the emotion of a start of a new year +and investors trying to decide if a recovery is in front of +them," said Rick Meckler, partner at Cherry Lane Investments in +New Vernon, New Jersey."Given last year's weak performance, I would certainly +expect a better year ahead."The main stock indexes ended 2022 with their steepest annual +losses since 2008 following the Fed's fastest pace of rate hikes +since the 1980s to stamp out decades-high inflation.The S&P 500 shed 19.4% in 2022, marking a roughly $8 +trillion decline in market capitalization, while the Nasdaq fell +33.1%, dragged down by growth stocks.Investors on Wednesday will closely monitor the minutes of +the Fed's December policy meeting, when the central bank raised +interest rates by 50 basis points after four straight 75-bps +hikes and signaled rates could stay higher for longer.Other economic data due this week includes December's jobs +report and the ISM manufacturing report.Weakness in the labor market could give the Fed a reason to +ease its monetary policy tightening, but the data so far has +shown that the market remains tight despite interest rate hikes.Money market participants see a 68% chance the Fed will +raise the benchmark rate by 25 bps to 4.50%-4.75% in February, +with the rates peaking at 4.98% by June.At 12:17 p.m. ET, the Dow Jones Industrial Average +was down 190.79 points, or 0.58%, at 32,956.46, the S&P 500 +was down 32.46 points, or 0.85%, at 3,807.04, and the +Nasdaq Composite was down 131.84 points, or 1.26%, at +10,334.64.U.S.-listed Chinese firms such as Alibaba Group Holding Ltd +, JD.com Inc, Pinduoduo Inc rose between +1% and 4% on post-COVID recovery hopes.Advancing issues outnumbered decliners by a 1.16-to-1 ratio +on the NYSE and by a 1.08-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week highs and 5 new lows, +while the Nasdaq recorded 80 new highs and 32 new lows. +(Reporting by Shubham Batra, Ankika Biswas and Amruta Khandekar +in Bengaluru; Editing by Shounak Dasgupta and Arun Koyyur) \ No newline at end of file diff --git a/news/AAPL/2023.01.03/Wall St starts the year with a dip; Apple, Tesla shares drag.txt b/news/AAPL/2023.01.03/Wall St starts the year with a dip; Apple, Tesla shares drag.txt new file mode 100644 index 0000000000000000000000000000000000000000..4ccc17331683eb09a1de5ffa880c67b4595c9bb7 --- /dev/null +++ b/news/AAPL/2023.01.03/Wall St starts the year with a dip; Apple, Tesla shares drag.txt @@ -0,0 +1,56 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tesla shares plunge on Q4 deliveries miss*Apple marks lowest closing level since June 2021*Indexes down: Dow 0.03%, S&P 0.40%, Nasdaq 0.76%Jan 3 (Reuters) - Wall Street's main indexes closed +lower on the first trading day of 2023 with the biggest drags +from Tesla and Apple, while investors worried about the Federal +Reserve's interest-rate hiking path as they awaited minutes from +its December meeting.Shares in electric vehicle maker Tesla Inc closed +down 12% after hitting their lowest level since August 2020 and +put pressure on the consumer discretionary sector +following a miss on Wall Street estimates for fourth-quarter +deliveries.Apple Inc shares sank 3.7%, with the iPhone maker +hitting its lowest level since June 2021, after a report from +Nikkei Asia pointed to weaker demand. In addition, an analyst +downgraded their rating of the stock due to production cuts in +COVID-19-hit China.The energy sector, which logged stellar gains in +2022, closed down 3.6% in the year's first trading day as oil +prices fell on bleak business activity data from China and +concerns about the global economic outlook..The main U.S. stock indexes in 2022 showed their steepest +annual losses since 2008 following the Fed's fastest pace of +rate hikes since the 1980s to stamp out decades-high inflation."2022 was a terrible year for equity markets. Some of the +reasons for that haven't dissipated because we turned the +calendar," said Michael James, managing director of equity +trading at Wedbush Securities in Los Angeles. "There's still +elevated anxiety, uncertainty about the Fed and inflation. Until +there's clarity on that, it's going to be tough to make any +upside headway in equity markets."Given Apple and Tesla's clout in the market, James also +cited specific concerns about them for broader S&P weakness +Tuesday.The Dow Jones Industrial Average fell 10.88 points, +or 0.03%, to 33,136.37; the S&P 500 lost 15.36 points, or +0.40%, to 3,824.14; and the Nasdaq Composite dropped +79.50 points, or 0.76%, to 10,386.99.The S&P 500 had shed 19.4% in 2022, marking a roughly $8 +trillion decline in market capitalization, while the Nasdaq fell +33.1%, dragged down by growth stocks.Among the S&P 500's 11 major sectors, behind energy, +technology was the second biggest decliner, losing 1%, with +Apple hastening the decline as it ended the day with a market +valuation below $2 trillion for the first time since March 2021.Tesla's biggest daily percentage drop since September 2020 +helped make the consumer discretionary index the S&P's +third weakest sector on the day with a 0.6% drop.The benchmark's biggest gainer on the day was communications +services, with Facebook parent Meta Platforms Inc +leading the advancers there with a gain of 3.7%.Investors on Wednesday will closely monitor the minutes of +the Fed's December policy meeting, when the central bank raised +interest rates by 50 basis points after four straight 75 basis +points hikes and signaled rates could stay higher for longer.Other economic data due this week includes the ISM +manufacturing report, also on Wednesday, and December's jobs +report on Friday.Weakness in the labor market could give the Fed a reason to +ease its monetary policy tightening, but the data so far has +shown that market remains tight despite rate hikes.Money market participants see a 68% chance the Fed will +raise the benchmark rate by 25 basis points to 4.50% to 4.75% in +February, with the rates peaking at 4.98% by June..Advancing issues outnumbered declining ones on the NYSE by a +1.42-to-1 ratio; on Nasdaq, a 1.20-to-1 ratio favored advancers.The S&P 500 posted one new 52-week high and five new lows; +the Nasdaq Composite recorded 92 new highs and 58 new lows.On U.S. exchanges 10.618 billion shares changed hands, +marking an uptick from the previous week's lower volume due to +the holiday season. It compared with the 10.799 billion-share +average for the last 20 trading days. +(Reporting by Sinéad Carew in New York; Shubham Batra, Ankika +Biswas and Amruta Khandekar in Bengaluru; Editing by Shounak +Dasgupta, Arun Koyyur and Jonathan Oatis) \ No newline at end of file diff --git a/news/AAPL/2023.01.03/Wall Street drops as Apple, energy stocks weigh.txt b/news/AAPL/2023.01.03/Wall Street drops as Apple, energy stocks weigh.txt new file mode 100644 index 0000000000000000000000000000000000000000..f10d89f87367091f9727156ec418d5f3a9740642 --- /dev/null +++ b/news/AAPL/2023.01.03/Wall Street drops as Apple, energy stocks weigh.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tesla falls as quarterly deliveries miss estimates*China ADRs gain on post-COVID recovery hopes*Indexes down: Dow 0.07%, S&P 0.26%, Nasdaq 0.56%Jan 3 (Reuters) - Wall Street's main indexes fell on the +first trading day of the year following declines in Apple and +energy stocks, with investors awaiting the Federal Reserve's +meeting minutes for further clarity on the path of future +interest rate hikes.Most of the major S&P 500 sectors were in the red, with +information technology stocks pulled lower by a 3% +drop in the shares of iPhone maker Apple Inc following +a report of a rating downgrade by Exane BNP Paribas.Tesla Inc fell nearly 10% as the electric-vehicle +maker missed Wall Street estimates for quarterly deliveries.Other rate-sensitive technology and growth stocks such as +Alphabet Inc, Meta Platforms Inc, Microsoft +and Amazon.com Inc were up between 0.6% and +2.0%.The energy sector, which logged stellar gains in 2022, fell +1.2% tracking oil prices lower on bleak business activity data +from China as well as concerns about the global economic +outlook."The market, like today, is not very much about fundamentals +or news, it's more about the emotion of a start of a new year +and investors trying to decide if a recovery is in front of +them," said Rick Meckler, partner at Cherry Lane Investments in +New Vernon, New Jersey.The main U.S. stock indexes ended 2022 with their steepest +annual losses since 2008 against the backdrop of the Fed's +fastest pace of rate hikes since the 1980s.The S&P 500 shed 19.4% in 2022, marking a roughly $8 +trillion decline in market cap, while the Nasdaq fell 33.1%, +dragged down by growth stocks.Investors on Wednesday will closely monitor the minutes of +the Fed's December policy meeting, when the central bank raised +interest rates by 50 basis points after four back-to-back 75-bps +hikes and signaled rates could stay higher for a while.Other economic data due this week includes December's +nonfarm payrolls report as well as the ISM manufacturing report, +which will give further clues on the strength of the economy and +the labor market.Money market participants see a 68.8% chance the Fed will +raise the benchmark rate by 25 bps to 4.50%-4.75% in February, +with the rates peaking at 4.94% by June.At 10:48 a.m. ET, the Dow Jones Industrial Average +was down 24.82 points, or 0.07%, at 33,122.43, the S&P 500 +was down 9.92 points, or 0.26%, at 3,829.58, and the +Nasdaq Composite was down 58.43 points, or 0.56%, at +10,408.05.U.S.-listed Chinese firms such as Alibaba Group Holding Ltd +, JD.com Inc, Pinduoduo Inc rose between +3% and 6% on post-COVID recovery hopes.Advancing issues outnumbered decliners for a 1.85-to-1 ratio +on the NYSE and a 1.57-to-1 ratio on the Nasdaq.The S&P index recorded no new 52-week high and one new low, +while the Nasdaq recorded 73 new highs and 23 new lows. +(Reporting by Shubham Batra, Ankika Biswas and Amruta Khandekar +in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AAPL/2023.01.04/Apple to sign Luxshare for iPhone production in China - FT.txt b/news/AAPL/2023.01.04/Apple to sign Luxshare for iPhone production in China - FT.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d44ede68ac9666c1d1609c9f6dc45b182f6518a --- /dev/null +++ b/news/AAPL/2023.01.04/Apple to sign Luxshare for iPhone production in China - FT.txt @@ -0,0 +1 @@ +Luxshare has been producing small numbers of the iPhone 14 Pro Max at its Kunshan plant, to make up for lost production at Foxconn's Zhengzhou factory last year, the report added.Analysts expected Apple to diversify its supplier base amid production disruptions in China due to employee unrest at a factory operated by Foxconn and COVID-19 induced lockdowns.Apple in November warned of lower shipments of its premium iPhone 14 models following significant production cuts.The iPhone maker and Luxshare did not immediately respond to Reuters requests for comment. (Reporting by Akash Sriram in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/AAPL/2023.01.04/At CES 2023, Sony's 'Gran Turismo' flags new entertainment strategy.txt b/news/AAPL/2023.01.04/At CES 2023, Sony's 'Gran Turismo' flags new entertainment strategy.txt new file mode 100644 index 0000000000000000000000000000000000000000..712970d54380f767aa03d33d9719103ff19d2d66 --- /dev/null +++ b/news/AAPL/2023.01.04/At CES 2023, Sony's 'Gran Turismo' flags new entertainment strategy.txt @@ -0,0 +1 @@ +The movie reflects the transformation of the maker of the Walkman and Bravia TVs from a primarily hardware-focused innovator to broad-based entertainment provider. It also represents a significant bridging of the divides between Sony Pictures Entertainment, Sony PlayStation and Sony Music, according to a dozen current and former senior executives interviewed by Reuters."I defined our identity as a creative entertainment company with a solid foundation on technology," Sony chief executive Kenichiro Yoshida said.The film's appearance at CES on a stage typically reserved for big-screen TVs and robot pets caps $10 billion in investments in music, games and anime over the last five years."Gran Turismo" is one of 10 game-inspired film and television projects in various stages of development.HBO's "The Last of Us," about a man hired to smuggle a 14-year-old girl across a pandemic-plagued America, debuts on Jan. 15. "The New Yorker" suggested the series could break the curse of bad video-game adaptations.Last month, Amazon Prime Video ordered "God of War," a live action adaptation of the PlayStation hit based on Greek mythology.Sony's "creative entertainment" company approach extends beyond content.A Sony-Honda electric vehicle, scheduled to reach consumers by 2026, is being framed as a rolling showcase of Sony's entertainment, gaming and camera sensor prowess. It will also generate recurring subscription revenue like other content services."Eventually, we think in the long term, the mobility space will become an entertainment space," Yoshida said.The high-profile projects, which could not have happened even three years ago, grew out of regular conversations among Sony executives, as they sought a way to work together more effectively.Sony resisted chasing after Netflix with a rival service and fended off an activist shareholder's call to sell or spin off its media and entertainment assets in 2020.Instead it struck deals to provide movies to Netflix and Walt Disney Co's Disney+ and series to HBO, Amazon and Apple Inc's Apple TV+.The shift is reflected in Sony's results, with two-thirds of operating profit coming from games, music and the film studio. Operating profit rose 8% to 344 billion yen ($2.6 billion) for the July-September quarter, beating analyst estimates. In November, with the music business offsetting weakness in the games group, Sony hiked its full-year operating profit forecast."This is a complete pivot of this company into something that's no longer an electronics company," said Ulrike Schaede, a professor of Japanese Business at UC San Diego's School of Global Policy and Strategy.Schaede said the company now has a coherent corporate narrative that would make it easier to unite the company's divisions."That's the new Sony," she said. "Now, can they deliver? I don't know."TREASURE CHESTWhen veteran media executive Tony Vinciquerra was recruited as chairman of Sony Pictures in 2017, the division was reeling after a string of box office flops including the 2016 reboot of the "Ghostbusters" franchise. DVD and Blu-ray disc revenue had plummeted under pressure from streaming services, and there were rumors of a possible sale, media executives said.But Vinciquerra was attracted by the opportunity to leverage the company's assets: "Sony is the only company in the media business that has not only television or film, but music, PlayStation, and technology," he said in an interview.Sony had struggled for decades to achieve the "synergy" the company touted with its 1989 acquisition of Columbia Pictures Entertainment.At best, these forced collaborations ended up as product placement in a movie or marketing promotion. At worst, they got in the way of adapting to the digital era.Entertainment executives then came up with PlayStation Productions: a division within the games group located on the Culver City studio lot and dedicated to film and television adaptations.It acted as a cultural attaché to Hollywood, "someone who could talk in their language," PlayStation chief Jim Ryan said in an interview, "in a non-confrontational, non-adversarial way just, you know, just try to do the best thing for both divisions."The result was "Uncharted," last year's release starring "Spider-Man's" Tom Holland and Mark Wahlberg in a hunt for Magellan's lost treasure. The film delivered $401 million in global ticket sales and became the most-watched film on Netflix when it was released on the streaming service in August.Meanwhile, one of Sony Music's most popular artists, the Puerto Rican rapper Benito Antonio Martínez Ocasio, who performs as "Bad Bunny," will star in "El Muerto," a film drawn from Sony's Marvel Universe of characters, due out in 2024.This August will bring another test of Sony's strategy when "Gran Turismo" hits theaters after languishing for 12 years.The movie is based on British racer Jann Mardenborough, who won the 2011 GT Academy Europe at 19 and went on to a podium finish at the 24-Hours of Le Mans in 2013.Academy Award-nominated director of "District 9" Neil Blomkamp directs a cast that includes "Lord of the Rings" star Orlando Bloom and "Stranger Things" actor David Harbour."We're telling a true story about wish fulfillment," PlayStation Productions chief Asad Qizilbash said. "This kid loved playing Gran Turismo, and at the same time, we're celebrating the game." (Reporting by Dawn Chmielewski in Los Angeles, additional reporting by Kiyoshi Takenaka in Tokyo; Edited by Kenneth Li and Suzanne Goldenberg in New York.)By Dawn Chmielewski \ No newline at end of file diff --git a/news/AAPL/2023.01.04/French privacy watchdog fines Apple over personalised ads.txt b/news/AAPL/2023.01.04/French privacy watchdog fines Apple over personalised ads.txt new file mode 100644 index 0000000000000000000000000000000000000000..1ba996e1a4246c19bf8d568fb9516e4a28306fe3 --- /dev/null +++ b/news/AAPL/2023.01.04/French privacy watchdog fines Apple over personalised ads.txt @@ -0,0 +1 @@ +"The advertising targeting settings available from the "Settings" icon of the iPhone were pre-checked by default", the CNIL said in a statement, even though that was not strictly necessary for the device's functioning. It added that the case, which dates back to 2021, concerned an old version of the phone's iOS operating software. The lobby group which brought the case had argued that Apple under iOS 14 had failed to ask iPhone users clearly enough for their prior consent to allow installed mobile apps to gather a key identifier used for targeted ads. Apple said after the announcement it was "disappointed with this decision" and that it would file an appeal. "Apple Search Ads goes further than any other digital advertising platform we are aware of by providing users with a clear choice as to whether or not they would like personalized ads", the company said. Apple's privacy updates, called App Tracking Transparency, give users the option to block apps from tracking activity across apps and websites owned by other companies.The fine was higher than the 6 million euro penalty requested by the CNIL's top adviser. ($1 = 0.9427 euros) (Reporting by Tassilo Hummel; Editing by Tomasz Janowski) \ No newline at end of file diff --git a/news/AAPL/2023.01.04/Futures edge higher ahead of Fed meeting minutes.txt b/news/AAPL/2023.01.04/Futures edge higher ahead of Fed meeting minutes.txt new file mode 100644 index 0000000000000000000000000000000000000000..a9e2b438e1d11170313911289e7c8e4e3b4f332d --- /dev/null +++ b/news/AAPL/2023.01.04/Futures edge higher ahead of Fed meeting minutes.txt @@ -0,0 +1 @@ +Minutes from the Fed's previous meeting, when it raised interest rates by half a percentage point and cautioned rates may need to remain higher for longer, are due to be released at 2 p.m. ET (1900 GMT).Meanwhile, U.S.-listed Chinese firms such as Alibaba Group Holding Ltd, JD.com Inc and Baidu Inc jumped more than 6% on hopes of a post-COVID recovery in China and on talk of support for the country's housing sector.Wall Street's main indexes saw a rocky start to 2023 on Tuesday, with the biggest drags being Tesla Inc after the electric-vehicle maker missed estimates on deliveries and Apple Inc that slumped after a rating downgrade.The declines followed a hit to U.S. equities in 2022 on worries of a recession due to aggressive monetary policy tightening, with the three main stock indexes logging their steepest annual losses since 2008.Investors on Wednesday will also monitor job openings data from the U.S. Labor Department and ISM manufacturing data due at 10 a.m. ET to assess the strength of the U.S. economy."The minutes of the latest Fed meeting will be devoured later, in a search for clues about how much higher rates will go before policymakers consider pressing the pause button," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.Market participants see a 68.8% chance of a 25-basis point rate hike from the U.S. central bank in February, and see rates peaking at 4.95% by June..The more comprehensive non-farm payrolls report is due on Friday, with investors hoping to see signs of cooling in the labor market that could give the Fed reason to slow its monetary policy tightening.At 6:00 a.m. ET, Dow e-minis were up 65 points, or 0.2%, S&P 500 e-minis were up 11.75 points, or 0.31%, and Nasdaq 100 e-minis were up 50.25 points, or 0.46%.Microsoft Corp slipped 2.1% in premarket trading after UBS downgraded the company's shares to "neutral". (Reporting by Shubham Batra and Amruta Khandekar in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AAPL/2023.01.04/Global markets live: Microsoft, Nvidia, Cisco, Salesforce, Rivian....txt b/news/AAPL/2023.01.04/Global markets live: Microsoft, Nvidia, Cisco, Salesforce, Rivian....txt new file mode 100644 index 0000000000000000000000000000000000000000..69b90144b7a44b469f881945b7f5c936091bd278 --- /dev/null +++ b/news/AAPL/2023.01.04/Global markets live: Microsoft, Nvidia, Cisco, Salesforce, Rivian....txt @@ -0,0 +1,21 @@ + +  +  +  + +Microsoft and OpenAI are working on a ChatGPT-powered Bing to challenge Google. It fell 4% after UBS lowered its recommendation on the company to "neutral" from "buy". +Apple's market value falls below $2,000 billion for the first time since 2021. iPhone sales through the three major U.S. telecom carriers rose in November month over month, a sign that demand remains strong, JP Morgan said. +Outokumpu closes the sale of several long product subsidiaries for €228M. +Ryanair's December traffic is up 3% from pre-pandemic levels. +Tokyo Gas is closing in on a deal to buy Rockcliff Energy, according to Reuters. +Rivian narrowly misses its 2022 production target of 25,000 vehicles. +Viasat closes Link 16 sale to L3Harris for $2 billion. +Nvidia and Foxconn will build autonomous vehicle platforms. +Merck KGaA licenses tumor-targeting cancer therapy to PDS Biotech. +ADC Therapeutics appoints Mohamed Zaki as medical director. +Cisco, Heico, Campbell Soup release dividends. +Salesforce was up 2% in premarket trading as the software company announced Wednesday it plans to cut about 10% of its global workforce and close some of its offices as part of a restructuring plan. +Rivian Automotive - The electric vehicle maker said Tuesday it narrowly missed its full-year 2022 production target of 25,000 cars. +U.S.-listed Chinese companies are indicated higher in pre-market trading on hopes for a post-Covid recovery in the Chinese economy. Baidu, Pinduoduo and JD.com were up 4.9% to 6.4%. Alibaba gained 6.7% after its subsidiary Ant Group received approval from Chinese regulators to raise 10.5 billion yuan for its consumer division. + +  diff --git a/news/AAPL/2023.01.04/Investors are betting that central banks will soon be forced to cut rates.txt b/news/AAPL/2023.01.04/Investors are betting that central banks will soon be forced to cut rates.txt new file mode 100644 index 0000000000000000000000000000000000000000..61eeb549f1d01ba9075ce8cdd34a8c92f2d2633a --- /dev/null +++ b/news/AAPL/2023.01.04/Investors are betting that central banks will soon be forced to cut rates.txt @@ -0,0 +1,44 @@ + +Wall Street closed its first session of 2023 down. Not on its lows, but still down, hampered by a part of its technology segment and by all of its oil companies. Apple even briefly saw its capitalization fall below the $2,000 billion mark. This is a symbol of investors' fears about the consequences of the economic slowdown that is taking shape this year. + +This morning, Wall Street's main indexes opened higher, ahead of the release of the Fed's minutes from its December policy meeting, as investors hope for clues on the future pace of interest rate hikes. It looks like investors are increasingly believing that central banks will be forced to cut rates sooner than expected to avoid damaging economies too much as recession looms. +The Dow Jones inched up 0.09% at the open, the S&P 500 was up 0.42%, while the Nasdaq Composite gained 0.78%. +There's some good news, at least in the EU, since the latest inflation data published in Germany and French both show that inflation cooled down more than expected. On another note, mild temperatures and global growth fears have eased pressure on oil (and gas), which explains the big sell-off in energy stocks and some renewed confidence about inflation. +In China, authorities are reportedly considering new measures to support "too big to fail" developers. Local equity markets are fluctuating with the many reassuring or worrying news about the pandemic. In recent hours, optimism has taken over, even though Beijing has announced the postponement of certain investments to create an autonomous semiconductor industry in the country, in response to US restrictions. Meanwhile, it is also reportedly discussing a partial lifting of the import ban on Australian coal, according to Bloomberg. +A few words on cryptocurrencies too, with Sam Bankman-Fried pleading not guilty to the charges against him in the FTX / Alameda case, apparently to buy time for his defense. The US federal banking regulatory agencies issued a joint statement to reiterate their caution towards cryptoassets. +  +Economic highlights of the day: +The final version of the December PMI indicators for the world's major economies are on the agenda, this time for services. In the US, there will also be the JOLTS survey on job openings in December and the minutes of the last Fed meeting. All the agenda is here.  +The dollar is down to EUR 0.9425 and GBP 0.8304. The ounce of gold is strengthening to 1857 dollars. Oil retreats, with North Sea Brent crude at USD 79.17 a barrel and US light crude WTI at USD 74.11 The yield on 10-year US debt is falling to 3.73%. Bitcoin is still hovering around USD 16,800. +  +In corporate news: +* Apple's iPhone sales through the three major U.S. telecom carriers rose in November month over month, a sign that demand remains strong, JP Morgan said. Apple shares were up 1% in premarket trading. +* Oil companies Exxon Mobil and Chevron were down 1% and 1.2%, respectively, as oil prices fell on concerns about Chinese demand. +* Salesforce was up 2% in premarket trading as the software company announced Wednesday it plans to cut about 10% of its global workforce and close some of its offices as part of a restructuring plan. +* Microsoft was down 2.2% in premarket trading after UBS lowered its recommendation on the company to "neutral" from "buy". +* Rivian Automotive - The electric vehicle maker said Tuesday it narrowly missed its full-year 2022 production target of 25,000 cars. +* U.S.-listed Chinese companies are indicated higher in pre-market trading on hopes for a post-Covid recovery in the Chinese economy. Baidu, Pinduoduo and JD.com were up 4.9% to 6.4%. Alibaba gained 6.7% after its subsidiary Ant Group received approval from Chinese regulators to raise 10.5 billion yuan for its consumer division. +  +Analyst recommendations: + +Air Products: Baptista Research initiated coverage with a recommendation of hold. PT set to $325. +Bank of New York Mellon: Goldman Sachs raised its recommendation to buy from neutral. PT up 27% to $59. +The Boston Beer Co: Jefferies downgrades to underperform from hold. PT down 15% to $275. +Capricorn Energy: Jefferies downgrades from buy to hold, targeting GBp 270. +Celanese: RBC Capital Markets upgrades to outperform from sector perform. PT up 22% to $125. +Chart Industries: Raymond James upgrades to strong buy from market perform. PT jumps 39% to $160. +Crown Holdings: Baird downgrades to neutral from outperform. PT down 3% to $80. +CVS Group: Jefferies downgrades from buy to hold, targeting GBp 2060. +Ezcorp: Canaccord Genuity initiated coverage with a recommendation of buy. PT jumps 68% to $14. +Forward Air: Jefferies downgrades to hold from buy. PT up 5.1% to $110. +Indivior: Jefferies remains Buy with a price target raised from GBp 2305 to GBp 2655. +Kimberly-Clark: Jefferies downgrades to hold from buy. PT up 1.4% to $139. +Morgan Stanley: Wolfe Research downgrades to underperform from outperform. PT up 7.3% to $92. +National Grid: Investec upgrades to buy from add. PT up 24% to 1,240 pence. +Norfolk Southern: Wells Fargo Securities downgrades to equal-weight from overweight. PT down 1.1% to $245. +Schwab: Goldman Sachs upgrades to buy from neutral. PT up 20% to $98. +Rolls-Royce: Panmure Gordon & Co downgrades to sell from hold. PT down 46% to 53 pence. +Sealed Air: Citi downgrades to neutral from buy. PT up 1.5% to $51. +SM Energy: J.P. Morgan downgrades to neutral from overweight. PT rises 44% to $46. +Tullow Oil: Jefferies remains Hold with a price target reduced from GBp 40 to GBp 36.92. + diff --git a/news/AAPL/2023.01.04/Luxshare says client cooperation normal after Apple production cut report.txt b/news/AAPL/2023.01.04/Luxshare says client cooperation normal after Apple production cut report.txt new file mode 100644 index 0000000000000000000000000000000000000000..0f777123e464384e31d854d69bb06f6e76f964c4 --- /dev/null +++ b/news/AAPL/2023.01.04/Luxshare says client cooperation normal after Apple production cut report.txt @@ -0,0 +1 @@ +The electronics manufacturer said it wanted to clarify a recent report from a Taiwanese media outlet which said that Luxshare had suffered the biggest impact from the Apple request. "There are no special changes or impact to the relevant business of the company mentioned in the report," Luxshare said in its statement."Currently the company's cooperation with existing customers is progressing normally and the business is moving forward in an orderly manner according to the work plan."Luxshare makes connector cables for the iPhone and Macbook to manufacturing AirPods and also owns factories capable of making iPhones. A report by Nikkei Asia on Monday citing unnamed suppliers said Apple has told suppliers to manufacture fewer components for its ear buds, watches and laptops as a sluggish global economy and high inflation may be hurting demand for Apple devices. Another supplier, Suzhou Dongshan Precision Manufacturing, which makes printed circuit boards for Apple, said on Thursday in response to a query about the same media reports on its investor Q&A platform that the orders of its core customers were stable. It did not name Apple. A separate report by the Financial Times on Thursday said Apple is set to sign an order with Luxshare to produce premium iPhone models. Foxconn declined to comment. Apple and Luxshare did not immediately respond to requests for comment. (Reporting by Shanghai newsroom and Brenda Goh; Writing by Liz Lee; Editing by Tom Hogue and Jacqueline Wong) \ No newline at end of file diff --git a/news/AAPL/2023.01.04/MarketScreener's World Press Review: January 4, 2023.txt b/news/AAPL/2023.01.04/MarketScreener's World Press Review: January 4, 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..d7ba5c5a1ae41a709760e9833b1c8c801388f8da --- /dev/null +++ b/news/AAPL/2023.01.04/MarketScreener's World Press Review: January 4, 2023.txt @@ -0,0 +1,13 @@ + +Arm (SoftBank), H20, Apple, Disney, Warner Bros Discovery, Paramount, NBCUniversal (Comcast), Blackstone, Amazon, Rivian Automotive, Southwest Airlines, Exxon, Chevron, 3M Co, Chewy, C.H. Robinson, LG Electronics & Magna feature in this press review! + + + + +  + +  +  +  +  +  diff --git a/news/AAPL/2023.01.04/Stocks end higher as Fed minutes confirm inflation focus.txt b/news/AAPL/2023.01.04/Stocks end higher as Fed minutes confirm inflation focus.txt new file mode 100644 index 0000000000000000000000000000000000000000..be73cab74902a3ed02e9fb51ac848b46d58c8309 --- /dev/null +++ b/news/AAPL/2023.01.04/Stocks end higher as Fed minutes confirm inflation focus.txt @@ -0,0 +1 @@ +The Dow ended four tenths of a percent higher. The S&P 500 finished up three quarters of a percent, while the Nasdaq ended about seven tenths of a percent higher.Minutes from the Fed's last policy meeting showed officials and Chair Jerome Powell would continue to increase interest rates to control inflation, but gradually to limit the risks to economic growth.Lisa Erickson, senior vice president at U.S. Bank Wealth Management, said the fact that the minutes showed no changes to the Fed's position may have eased some investors' concerns."Overall, really what we see here with the Fed minutes is, again, the same themes that were echoed in the December press conference. And so that really is giving the markets cause really just to see that, for now, the Fed is not really changing its stance with respect to monetary policy."Shares of Microsoft slid more than 4% after UBS downgraded the stock to "neutral" from "buy" on concerns over slowing growth for its cloud business.Shares of Amazon also fell after UBS cut its price target on the stock, citing the same potential softening demand for cloud services.Shares of Apple and Tesla rebounded somewhat, rising 1% and 5% respectively, after sharp moves lower the day prior.And shares of Salesforce rose, after the cloud-based software firm said it plans to cut jobs by 10% and close some offices. \ No newline at end of file diff --git a/news/AAPL/2023.01.04/Wall St reverses losses as focus turns to Fed minutes.txt b/news/AAPL/2023.01.04/Wall St reverses losses as focus turns to Fed minutes.txt new file mode 100644 index 0000000000000000000000000000000000000000..640ad5f0a7c9f6f7027f1e38f4fa9c208e3c2d89 --- /dev/null +++ b/news/AAPL/2023.01.04/Wall St reverses losses as focus turns to Fed minutes.txt @@ -0,0 +1,43 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Fed minutes due at 2 p.m. ET*Job openings fall less than expected*Microsoft falls on UBS rating downgrade*Indexes up: Dow 0.73%, S&P 1.17%, Nasdaq 1.13%Jan 4 (Reuters) - Wall Street's main indexes reversed +early losses on Wednesday, as investors looked past a set of +economic data, with focus squarely on the Federal Reserve's +December meeting minutes for clues on the outlook for interest +rates.Minutes from the Fed's previous meeting, when it raised +interest rates by half a percentage point and cautioned rates +may need to remain higher for longer, are due at 2 p.m. ET (1900 +GMT).The minutes could show the central bank's internal +deliberations entering a new phase where risks to economic +growth and employment are given more standing, while curbing +high inflation remains the top priority."What you'll hear is the Fed needs to continue to hold the +line and fight inflation ... there'll be some back and forth +between various members about where the terminal rate should +land," said Darrell Cronk, chief investment officer at Wells +Fargo Wealth & Investment Management.U.S. job openings in November indicated a tight labor +market, giving the Fed cover to stick to its monetary tightening +campaign for longer, while other data showed manufacturing +contracted further in December.Minneapolis Fed President Neel Kashkari on Wednesday +stressed the need for continued rate hikes, setting out his own +forecast that the policy rate should initially pause at 5.4%.U.S. equities were pummeled in 2022 on worries of a +recession due to aggressive monetary policy tightening, with the +three main stock indexes logging their steepest annual losses +since 2008.Market participants see a 66.7% chance of a 25-basis point +rate hike from the Fed in February, and see rates peaking at +4.98% by June.Apple Inc and Tesla Inc bounced back from +a searing drop in the previous session and rose 2.3% and 5.0%, +respectively."People repositioning their portfolios for this year is +leading the market to see these gains ... people are stepping +into names that really underperformed last year," said Robert +Pavlik, senior portfolio manager at Dakota Wealth Management.Meanwhile, Microsoft Corp dropped 4.3% following a +downgrade by brokerage UBS on worries over slowing growth for +its cloud services and Office suite.Consumer discretionary and financial stocks +led the gains among the major S&P 500 sector +indexes.At 11:52 a.m. ET, the Dow Jones Industrial Average +was up 241.58 points, or 0.73%, at 33,377.95, the S&P 500 +was up 44.63 points, or 1.17%, at 3,868.77, and the Nasdaq +Composite was up 117.59 points, or 1.13%, at 10,504.58.Salesforce Inc gained 3.4% on the enterprise +software firm's workforce reduction plans.Advancing issues outnumbered decliners for a 6.25-to-1 ratio +on the NYSE and a 3.55-to-1 ratio on the Nasdaq.The S&P index recorded two new 52-week highs and no new low, +while the Nasdaq recorded 58 new highs and 39 new lows. +(Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas +in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AAPL/2023.01.04/Wall St subdued as signs of tight labor market fuel rate hike fears.txt b/news/AAPL/2023.01.04/Wall St subdued as signs of tight labor market fuel rate hike fears.txt new file mode 100644 index 0000000000000000000000000000000000000000..3bb80c45733453f20d48863f7aa4d21a02292792 --- /dev/null +++ b/news/AAPL/2023.01.04/Wall St subdued as signs of tight labor market fuel rate hike fears.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Fed minutes due at 2 p.m. ET*Job openings fall less than expected*Microsoft falls on UBS rating downgrade*Indexes mixed: Dow down 0.11%, S&P up 0.01%, Nasdaq down +0.25%Jan 4 (Reuters) - Wall Street's main indexes were +subdued on Wednesday as data showed U.S. job openings fell less +than expected, fuelling investor anxiety about interest rate +hikes ahead of the Federal Reserve's December meeting minutes.A survey from the Labor Department showed job openings fell +54,000 to 10.458 million on the last day of November, compared +with expectations of 10 million job openings.The data indicated a still tight labor market that could +give the Fed cover to keep rates higher for longer.Meanwhile, Apple Inc rose 0.6%, while +electric-vehicle maker Tesla Inc jumped 2.3%, with both +the shares recovering from a searing drop in the previous +session.The gains eased some of the pressure on the benchmark S&P +500 index.Microsoft Corp dropped 5.2% following a downgrade +by brokerage UBS on worries over slowing growth for its cloud +services and Office suite.Consumer discretionary stocks rose 0.3%, while the +tech sector fell 0.4%.A separate report showed U.S. manufacturing contracted +further in December. The Institute for Supply Management (ISM) +said its manufacturing PMI dropped to 48.4 last month from 49.0 +in November, contracting for a second straight month.Minutes from the Fed's previous meeting, when it raised +interest rates by half a percentage point and cautioned rates +may need to remain higher for longer, are due to be released at +2 p.m. ET (1900 GMT).The Fed minutes could show the central bank's internal +deliberations entering a new phase where risks to economic +growth and employment are given more standing, while curbing +high inflation remains the top priority.U.S. equities were pummeled in 2022 on worries of a +recession due to aggressive monetary policy tightening, with the +three main stock indexes logging their steepest annual losses +since 2008."It's a new year, but we're stuck with the same macro +conditions, which are still pretty discouraging," said Dave +Grecsek, managing director in investment strategy and research +at Aspiriant."Two things that are really going to drive near-term market +returns - whether Fed is going to stick to its word and be as +firm with inflation and policy rates and whether the U.S. and +the European economies enter recession."Market participants see a 68% chance of a 25-basis point +rate hike from the Fed in February, and see rates peaking at +4.99% by June. +At 10:28 a.m. ET, the Dow Jones Industrial Average was +down 37.17 points, or 0.11%, at 33,099.20, the S&P 500 +was up 0.44 points, or 0.01%, at 3,824.58, and the Nasdaq +Composite was down 26.38 points, or 0.25%, at 10,360.61.Salesforce Inc gained 2.8% on the enterprise +software firm's workforce reduction plans.Advancing issues outnumbered decliners by a 3.53-to-1 ratio +on the NYSE and by a 2.18-to-1 ratio on the Nasdaq.The S&P index recorded 2 new 52-week highs and no new lows, +while the Nasdaq recorded 55 new highs and 31 new lows. +(Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas +in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AAPL/2023.01.05/Apple : Fitness+ unveils new offerings for the new year.txt b/news/AAPL/2023.01.05/Apple : Fitness+ unveils new offerings for the new year.txt new file mode 100644 index 0000000000000000000000000000000000000000..888d411ee7200a84ef422aa6f0e50f310217b2bf --- /dev/null +++ b/news/AAPL/2023.01.05/Apple : Fitness+ unveils new offerings for the new year.txt @@ -0,0 +1,541 @@ + + + +UPDATEJanuary 5, 2023 + + + + Apple Fitness+ unveils new offerings for the new year + + + + Beginning January 9, the service will introduce a new Kickboxing workout type, a brand-new sleep theme for meditations, a Beyoncé Artist Spotlight, new Time to Walk guests, and three new trainers + + + + In January, Apple Fitness+ launches a slate of new offerings designed to help users stay active and mindful in the new year, including a new Kickboxing workout type. + + + + Apple Fitness+, the award-winning fitness and wellness service that is welcoming to all, is introducing new ways for users to improve their overall well-being in the new year. Starting Monday, January 9, the service will launch Kickboxing, a new total-body cardio workout type. A brand-new meditation theme, Sleep, will join the nine other themes in the Meditation library, all designed to make users' practice more impactful than ever before. To help them get started, a new program called Introduction to Meditations for Sleep - designed to help users wind down before bed and drift off to sleep - will launch. + + + Additionally, Artist Spotlight will launch new workouts featuring music by Beyoncé, including songs from her latest album, RENAISSANCE, bringing her iconic music to the service. Time to Walk will kick off its fifth season with new guests, including Golden Globe-nominated actor Jamie Lee Curtis, late-night talk show host Amber Ruffin, Olympic champion figure skater Nathan Chen, and German actor Nina Hoss. Fitness+ will also launch two new Collections - 6 Weeks to Restart Your Fitness and Level Up Your Core Training - as well as welcome three new trainers to the team. + + + "No matter where people are on their health and well-being journey, Fitness+ makes it easy to get started and stay motivated with workouts and meditations that are welcoming to all," said Jay Blahnik, Apple's vice president of Fitness Technologies. "Whether people want to boost their cardio with the newest workout type, Kickboxing; move to Beyoncé's latest hits; or wind down before bed with a meditation, there really is something for everyone to take care of their body and mind in the new year." + + +Kickboxing and New Trainers + + + Kickboxing workouts can help build full-body fitness, and are a great way to build strength, stamina, coordination, and balance. Starting January 9, Fitness+ will add Kickboxing as a new total-body cardio workout type. Each workout will consist of a distinct round of moves followed by one final round, which will combine the moves users just learned into an all-out one-minute interval. No equipment is required, and workouts will be 10, 20, or 30 minutes long. + + + Kickboxing will be led by two Fitness+ trainers. Jamie-Ray Hartshorne, who users know and love from Treadmill, HIIT, and Time to Run workouts, trained in muay thai and professionally competed in Thailand. + + + + History-making muay thai fighter Nez Dally joins the Fitness+ trainer team to lead Kickboxing workouts. + + + + Additionally, Nez Dally will join the trainer team to lead Kickboxing workouts. The muay thai fighter made history when she became the first woman to compete in Thailand wearing a hijab. In her workouts, she brings the drive of a high-achieving athlete to empower users with every jab, cross, and kick. + + + In addition to Dally, two more new trainers will join the Fitness+ trainer team in January: Brian Cochrane for HIIT and Jenn Lau for Strength. Cochrane, who hails from Scotland, grew up playing a variety of sports, making his HIIT training a versatile practice. As a former singer in an indie band, he continues to be inspired by the way music and movement come together. + + + Lau co-founded a gym in her hometown of Toronto, and she is just as passionate about inclusivity as she is about helping people stay active. She brings tenacity and playfulness to every lift and lunge she teaches. + + + + + +Fitness+ trainer Jenn Lau is shown. + + +Fitness+ trainer Brian Cochrane is shown. + + + + + Jenn Lau joins the Fitness+ team to lead Strength workouts, and Brian Cochrane joins to lead HIIT. + + + Jenn Lau joins the Fitness+ team to lead Strength workouts, and Brian Cochrane joins to lead HIIT. + + + + +previous + + +next + + + + + +Introducing Sleep Meditation + + + Meditation on Fitness+ is designed to help users release tension and anxiety. A brand-new Meditation theme, Sleep, will be added to the Meditation library, joining the nine other themes, including Calm, Gratitude, Resilience, and Creativity. The robust library is designed to make the practice of meditation more powerful and useful than ever before. New sleep meditations will be added every week, and each practice can be done as part of a wind-down routine or while drifting off. + + + To help users get started with sleep meditations, a new program, Introduction to Meditations for Sleep, will launch. The program consists of four 20-minute meditations that conclude with five minutes of relaxing music. The meditations - which can be done in any order at any time, each using different techniques to help users slow down and rest - include "Quiet Your Mind," "Relax Your Body," "Appreciate Your Day," and "Visualize Rest." + + + + A brand-new Meditation theme, Sleep, joins the Meditation library, and Fitness+ will also add a new program, Introduction to Meditations for Sleep, to help users get started. + + + +Artist Spotlight with Beyoncé + + + The Artist Spotlight series - which dedicates an entire workout playlist to a single artist - expands with new workouts featuring music by Beyoncé, including songs from her latest album, RENAISSANCE, bringing her iconic music to the service. On Monday, January 9, seven new workouts featuring the singer's music will be available across Cycling, Dance, HIIT, Pilates, Strength, Treadmill, and Yoga. The energy and themes in each workout are inspired by the album's notion of rediscovering what makes individuals unique and powerful to help uplift users in the new year. + + + Fitness+ will also roll out two additional Artist Spotlight offerings: the Foo Fighters on Monday, January 16, and Bad Bunny on Monday, January 23. + + + + + +Beyoncé's Artist Spotlight is shown in Fitness+. + + +The Foo Fighters' Artist Spotlight is shown in Fitness+. + + +Bad Bunny's Artist Spotlight is shown in Fitness+. + + + + + In January, Fitness+ rolls out three Artist Spotlight offerings: Beyoncé on January 9, the Foo Fighters on January 16, and Bad Bunny on January 23. + + + In January, Fitness+ rolls out three Artist Spotlight offerings: Beyoncé on January 9, the Foo Fighters on January 16, and Bad Bunny on January 23. + + + In January, Fitness+ rolls out three Artist Spotlight offerings: Beyoncé on January 9, the Foo Fighters on January 16, and Bad Bunny on January 23. + + + + +previous + + +next + + + + + +Time to Walk + + + Fitness+ will introduce new episodes of Time to Walk, beginning with acclaimed actor Jamie Lee Curtis. Time to Walk - an inspiring audio experience on iPhone and Apple Watch, designed to help people walk more often - features some of the world's most interesting and influential people, who share stories, photos, and music with Fitness+ users. Curtis - a producer, bestselling author, activist, and philanthropist - was most recently nominated for a Golden Globe for her role in the film Everything Everywhere All at Once. On this walk, Curtis reflects on the importance of embracing life's most unexpected moments, the transformative power of serving others in need, and how the death of a beloved public figure led her to a daily ritual of self-reflection. + + + As the series kicks off its fifth season, new guests will be added each week, including: + + + + + Amber Ruffin, host of the late-night talk show The Amber Ruffin Show and co-author of the New York Times bestseller You'll Never Believe What Happened to Lacey: Crazy Stories about Racism. + + + Jason Segel, the actor, producer, comedian, and screenwriter best known for his role as Marshall Eriksen in the sitcom How I Met Your Mother, who stars in the upcoming Apple Original comedy Shrinking. + + + José Andrés, Spanish chef and founder of the World Central Kitchen, a nonprofit devoted to providing meals in the wake of natural disasters. + + + Nina Hoss, one of Germany's biggest stars of the stage and screen, known for her role in the critically acclaimed film Tár. + + + Colman Domingo, the actor, writer, and director who gained acclaim and a Tony Award nomination for his performance as Mr. Bones in the Broadway musical The Scottsboro Boys and won an Emmy for his role in Euphoria. + + + Nathan Chen, US figure skater, three-time world champion, and 2022 Olympic champion. + + + Sheryl Lee Ralph, the actor and singer who most recently won the Primetime Emmy Award for Outstanding Supporting Actress in a Comedy Series for her role in Abbott Elementary. + + + + + + Award-winning actor, producer, and activist Jamie Lee Curtis kicks off the fifth season of Time to Walk. + + + +Collections + + + Additionally, Fitness+ will introduce two new Collections, curated content from the Fitness+ library to help users go after their goals or find inspiration: + + + + +6 Weeks to Restart Your Fitness, designed to motivate users to build a new habit by working out every day, featuring a perfect blend of workouts to help users onramp back into fitness. Available January 9. + + +Level Up Your Core Training, featuring 10- and 20-minute core workouts taken to the next level with the use of dumbbells. Available January 23. + + + + + + Fitness+ introduces two new Collections this month: 6 Weeks to Restart Your Fitness and Level Up Your Core Training. + + + +Pricing and Availability + + + + + Apple Fitness+ is available as a subscription service for $9.99 (US) per month or $79.99 (US) per year, and can be shared with up to five other family members. + + + Fitness+ is included in the Apple One Premier plan, which, where available, also gives customers access to Apple Music, Apple TV+, Apple Arcade, Apple News+, and iCloud+ with 2TB of storage, and can be shared with up to five other family members. + + + Fitness+ is available in Australia, Austria, Brazil, Canada, Colombia, France, Germany, Indonesia, Ireland, Italy, Malaysia, Mexico, New Zealand, Portugal, Russia, Saudi Arabia, Spain, Switzerland, the UAE, the UK, and the US. + + + Three months of Apple Fitness+ are included for customers who purchase Apple Watch Series 4 or later, iPhone 11 or later, iPad (9th generation) or later, iPad Air (5th generation) or later, iPad mini (6th generation) or later, iPad Pro 11-inch (3rd generation) or later, iPad Pro 12.9-inch (5th generation) or later, Apple TV HD, or Apple TV 4K (2nd generation). One month of Fitness+ is included for all other new subscribers. + + + Fitness+ can be shared with up to five other family members for the same price, making it easy for users in the same household to enjoy the service. + + + Apple Fitness+ requires iPhone 8 or later with iOS 16.1, or Apple Watch Series 3 or later with watchOS 7.2 or later paired with iPhone 6s or later with iOS 14.3 or later. + + + To get the newest features, users must make sure their devices are running the latest software version. + + + All Time to Walk and Time to Run episodes are available in the Fitness app on iPhone with a Fitness+ subscription. Users can also enjoy the episodes with just their Apple Watch paired with AirPods or other Bluetooth-enabled headphones. + + + Starting this month, SilverSneakers, the nation's leading fitness program for older adults, will offer members a Fitness+ subscription at no additional cost through select Medicare Advantage plans. + + + + + + Share article + + + + + + + Text of this article + + + + + January 5, 2023 + + + UPDATE + + + Apple Fitness+ unveils new offerings for the new year + + + Beginning January 9, the service will introduce a new Kickboxing workout type, a brand-new sleep theme for meditations, a Beyoncé Artist Spotlight, new Time to Walk guests, and three new trainers + + + Apple Fitness+, the award-winning fitness and wellness service that is welcoming to all, is introducing new ways for users to improve their overall well-being in the new year. Starting Monday, January 9, the service will launch Kickboxing, a new total-body cardio workout type. A brand-new meditation theme, Sleep, will join the nine other themes in the Meditation library, all designed to make users' practice more impactful than ever before. To help them get started, a new program called Introduction to Meditations for Sleep - designed to help users wind down before bed and drift off to sleep - will launch. + + + Additionally, Artist Spotlight will launch new workouts featuring music by Beyoncé, including songs from her latest album, RENAISSANCE, bringing her iconic music to the service. Time to Walk will kick off its fifth season with new guests, including Golden Globe-nominated actor Jamie Lee Curtis, late-night talk show host Amber Ruffin, Olympic champion figure skater Nathan Chen, and German actor Nina Hoss. Fitness+ will also launch two new Collections - 6 Weeks to Restart Your Fitness and Level Up Your Core Training - as well as welcome three new trainers to the team. + + + "No matter where people are on their health and well-being journey, Fitness+ makes it easy to get started and stay motivated with workouts and meditations that are welcoming to all," said Jay Blahnik, Apple's vice president of Fitness Technologies. "Whether people want to boost their cardio with the newest workout type, Kickboxing; move to Beyoncé's latest hits; or wind down before bed with a meditation, there really is something for everyone to take care of their body and mind in the new year." + + +Kickboxing and New Trainers + + + Kickboxing workouts can help build full-body fitness, and are a great way to build strength, stamina, coordination, and balance. Starting January 9, Fitness+ will add Kickboxing as a new total-body cardio workout type. Each workout will consist of a distinct round of moves followed by one final round, which will combine the moves users just learned into an all-out one-minute interval. No equipment is required, and workouts will be 10, 20, or 30 minutes long. + + + Kickboxing will be led by two Fitness+ trainers. Jamie-Ray Hartshorne, who users know and love from Treadmill, HIIT, and Time to Run workouts, trained in muay thai and professionally competed in Thailand. + + + Additionally, Nez Dally will join the trainer team to lead Kickboxing workouts. The muay thai fighter made history when she became the first woman to compete in Thailand wearing a hijab. In her workouts, she brings the drive of a high-achieving athlete to empower users with every jab, cross, and kick. + + + In addition to Dally, two more new trainers will join the Fitness+ trainer team in January: Brian Cochrane for HIIT and Jenn Lau for Strength. Cochrane, who hails from Scotland, grew up playing a variety of sports, making his HIIT training a versatile practice. As a former singer in an indie band, he continues to be inspired by the way music and movement come together. + + + Lau co-founded a gym in her hometown of Toronto, and she is just as passionate about inclusivity as she is about helping people stay active. She brings tenacity and playfulness to every lift and lunge she teaches. + + +Introducing Sleep Meditation + + + Meditation on Fitness+ is designed to help users release tension and anxiety. A brand-new Meditation theme, Sleep, will be added to the Meditation library, joining the nine other themes, including Calm, Gratitude, Resilience, and Creativity. The robust library is designed to make the practice of meditation more powerful and useful than ever before. New sleep meditations will be added every week, and each practice can be done as part of a wind-down routine or while drifting off. + + + To help users get started with sleep meditations, a new program, Introduction to Meditations for Sleep, will launch. The program consists of four 20-minute meditations that conclude with five minutes of relaxing music. The meditations - which can be done in any order at any time, each using different techniques to help users slow down and rest - include "Quiet Your Mind," "Relax Your Body," "Appreciate Your Day," and "Visualize Rest." + + +Artist Spotlight with Beyoncé + + + The Artist Spotlight series - which dedicates an entire workout playlist to a single artist - expands with new workouts featuring music by Beyoncé, including songs from her latest album, RENAISSANCE, bringing her iconic music to the service. On Monday, January 9, seven new workouts featuring the singer's music will be available across Cycling, Dance, HIIT, Pilates, Strength, Treadmill, and Yoga. The energy and themes in each workout are inspired by the album's notion of rediscovering what makes individuals unique and powerful to help uplift users in the new year. + + + Fitness+ will also roll out two additional Artist Spotlight offerings: the Foo Fighters on Monday, January 16, and Bad Bunny on Monday, January 23. + + +Time to Walk + + + Fitness+ will introduce new episodes of Time to Walk, beginning with acclaimed actor Jamie Lee Curtis. Time to Walk - an inspiring audio experience on iPhone and Apple Watch, designed to help people walk more often - features some of the world's most interesting and influential people, who share stories, photos, and music with Fitness+ users. Curtis - a producer, bestselling author, activist, and philanthropist - was most recently nominated for a Golden Globe for her role in the film Everything Everywhere All at Once. On this walk, Curtis reflects on the importance of embracing life's most unexpected moments, the transformative power of serving others in need, and how the death of a beloved public figure led her to a daily ritual of self-reflection. + + + As the series kicks off its fifth season, new guests will be added each week, including: + + + + Amber Ruffin, host of the late-night talk show The Amber Ruffin Show and co-author of the New York Times bestseller You'll Never Believe What Happened to Lacey: Crazy Stories about Racism. + + + Jason Segel, the actor, producer, comedian, and screenwriter best known for his role as Marshall Eriksen in the sitcom How I Met Your Mother, who stars in the upcoming Apple Original comedy Shrinking. + + + José Andrés, Spanish chef and founder of the World Central Kitchen, a nonprofit devoted to providing meals in the wake of natural disasters. + + + Nina Hoss, one of Germany's biggest stars of the stage and screen, known for her role in the critically acclaimed film Tár. + + + Colman Domingo, the actor, writer, and director who gained acclaim and a Tony Award nomination for his performance as Mr. Bones in the Broadway musical The Scottsboro Boys and won an Emmy for his role in Euphoria. + + + Nathan Chen, US figure skater, three-time world champion, and 2022 Olympic champion. + + + Sheryl Lee Ralph, the actor and singer who most recently won the Primetime Emmy Award for Outstanding Supporting Actress in a Comedy Series for her role in Abbott Elementary. + + + +Collections + + + Additionally, Fitness+ will introduce two new Collections, curated content from the Fitness+ library to help users go after their goals or find inspiration: + + + +6 Weeks to Restart Your Fitness, designed to motivate users to build a new habit by working out every day, featuring a perfect blend of workouts to help users onramp back into fitness. Available January 9. + + +Level Up Your Core Training, featuring 10- and 20-minute core workouts taken to the next level with the use of dumbbells. Available January 23. + + + +Pricing and Availability + + + + Apple Fitness+ is available as a subscription service for $9.99 (US) per month or $79.99 (US) per year, and can be shared with up to five other family members. + + + Fitness+ is included in the Apple One Premier plan, which, where available, also gives customers access to Apple Music, Apple TV+, Apple Arcade, Apple News+, and iCloud+ with 2TB of storage, and can be shared with up to five other family members. + + + Fitness+ is available in Australia, Austria, Brazil, Canada, Colombia, France, Germany, Indonesia, Ireland, Italy, Malaysia, Mexico, New Zealand, Portugal, Russia, Saudi Arabia, Spain, Switzerland, the UAE, the UK, and the US. + + + Three months of Apple Fitness+ are included for customers who purchase Apple Watch Series 4 or later, iPhone 11 or later, iPad (9th generation) or later, iPad Air (5th generation) or later, iPad mini (6th generation) or later, iPad Pro 11-inch (3rd generation) or later, iPad Pro 12.9-inch (5th generation) or later, Apple TV HD, or Apple TV 4K (2nd generation). One month of Fitness+ is included for all other new subscribers. + + + Fitness+ can be shared with up to five other family members for the same price, making it easy for users in the same household to enjoy the service. + + + Apple Fitness+ requires iPhone 8 or later with iOS 16.1, or Apple Watch Series 3 or later with watchOS 7.2 or later paired with iPhone 6s or later with iOS 14.3 or later. + + + To get the newest features, users must make sure their devices are running the latest software version. + + + All Time to Walk and Time to Run episodes are available in the Fitness app on iPhone with a Fitness+ subscription. Users can also enjoy the episodes with just their Apple Watch paired with AirPods or other Bluetooth-enabled headphones. + + + Starting this month, SilverSneakers, the nation's leading fitness program for older adults, will offer members a Fitness+ subscription at no additional cost through select Medicare Advantage plans. + + +About Apple Fitness+ Apple Fitness+ is an award-winning fitness and wellness service with studio-style workouts and meditations that are welcoming to all, wherever they are in their journey, and to help users live a healthier day. Subscribers have access to the largest library of workout content in 4K Ultra High Definition, all led by a diverse and inclusive team of trainers. Fitness+ also has workout programs with custom content designed to support users through a season of life or help them prepare for important moments, an Artist Spotlight series with entire playlists by world-renowned music artists, and Collections, which include curated content from the Fitness+ library to help users go after their goals or find inspiration. Fitness+ helps users train their body and mind with a one-of-a-kind engaging experience that can be done anytime, anywhere and motivates users from start to finish with music from today's top artists. Fitness+ is available for iPhone users to subscribe to and enjoy in the 21 countries it is available in, and those with an Apple Watch can continue to take their experience to the next level with personalized real-time metrics that display on iPhone, iPad, and Apple TV. With Fitness+, users can also get moving with inspiring audio experiences, including Time to Walk, featuring some of the world's most interesting and influential people, and Time to Run, designed to help users become more consistent and better runners. Apple Fitness+ is available in English with subtitles in Brazilian Portuguese, English, French, German, Italian, Russian, and Spanish. More information is available at apple.com/apple-fitness-plus. + + Press Contacts + + + Olivia DeJesse + + + Apple + + + oliviad_22@apple.com + + + (424) 326-7049 + + + Stephanie Saffer + + + Apple + + + ssaffer@apple.com + + + (408) 974-5160 + + + Apple Media Helpline + + + media.help@apple.com + + + (408) 974-2042 + + +Copy text + + + + + + + Images in this article + + +Download all images + + + + + + + +About Apple Fitness+ + + + Apple Fitness+ is an award-winning fitness and wellness service with studio-style workouts and meditations that are welcoming to all, wherever they are in their journey, and to help users live a healthier day. Subscribers have access to the largest library of workout content in 4K Ultra High Definition, all led by a diverse and inclusive team of trainers. Fitness+ also has workout programs with custom content designed to support users through a season of life or help them prepare for important moments, an Artist Spotlight series with entire playlists by world-renowned music artists, and Collections, which include curated content from the Fitness+ library to help users go after their goals or find inspiration. Fitness+ helps users train their body and mind with a one-of-a-kind engaging experience that can be done anytime, anywhere and motivates users from start to finish with music from today's top artists. Fitness+ is available for iPhone users to subscribe to and enjoy in the 21 countries it is available in, and those with an Apple Watch can continue to take their experience to the next level with personalized real-time metrics that display on iPhone, iPad, and Apple TV. With Fitness+, users can also get moving with inspiring audio experiences, including Time to Walk, featuring some of the world's most interesting and influential people, and Time to Run, designed to help users become more consistent and better runners. Apple Fitness+ is available in English with subtitles in Brazilian Portuguese, English, French, German, Italian, Russian, and Spanish. More information is available at apple.com/apple-fitness-plus. + + + + + Press Contacts + + + + + Olivia DeJesse + + + Apple + + + oliviad_22@apple.com + + + (424) 326-7049 + + + + + Stephanie Saffer + + + Apple + + + ssaffer@apple.com + + + (408) 974-5160 + + + + + Apple Media Helpline + + + media.help@apple.com + + + (408) 974-2042 + + + + + + + Latest News + + + +UPDATE + + +Major League Soccer announces 2023 season schedule + + +December 20, 2022 + + + + +UPDATE + + +Apple launches Freeform: a powerful new app designed for creative collaboration + + +December 13, 2022 + + + + +FEATURE + + +Across the globe, Apple and its teams find new ways to give + + +December 8, 2022 + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Apple Inc. published this content on 05 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 January 2023 14:07:06 UTC. + + diff --git a/news/AAPL/2023.01.05/Apple supplier Foxconn says December revenue fell 12.3% y|y.txt b/news/AAPL/2023.01.05/Apple supplier Foxconn says December revenue fell 12.3% y|y.txt new file mode 100644 index 0000000000000000000000000000000000000000..ff81f43798b258bc0329f80b6fe389db46821967 --- /dev/null +++ b/news/AAPL/2023.01.05/Apple supplier Foxconn says December revenue fell 12.3% y|y.txt @@ -0,0 +1 @@ +The company in a statement said production at the major iPhone factory in China "basically returned to normal" in December. It did not elaborate. (Reporting by Sarah Wu and Yimou Lee; Editing by Christopher Cushing) \ No newline at end of file diff --git a/news/AAPL/2023.01.05/Apple supplier Foxconn says output recovering despite revenue fall.txt b/news/AAPL/2023.01.05/Apple supplier Foxconn says output recovering despite revenue fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..b269bf7a8dd924fe2f43338d798d5b268a056900 --- /dev/null +++ b/news/AAPL/2023.01.05/Apple supplier Foxconn says output recovering despite revenue fall.txt @@ -0,0 +1,33 @@ +*2022 revenue reached record high*Zhengzhou plant hit by unrest over COVID curbs, pay*Shares close slightly lowerTAIPEI, Jan 5 (Reuters) - Taiwan's Foxconn, +the world's largest contract electronics maker, said on Thursday +output at its iPhone plant in China had "basically returned to +normal" and December revenue, down 12.3% year-on-year, marked +the start of a recovery.Production of Apple iPhones faced disruption ahead of +Christmas and January's Lunar New Year holidays, after curbs to +control COVID-19 prompted thousands of workers to leave +Foxconn's factory lines in China's Zhengzhou city.Although lower compared with the previous year, the company +said revenue for December was better than it expected and that a +"gradual recovery" at its Zhengzhou plant had contributed to +"double-digit growth" in revenue for its smart consumer +electronics business compared to November.A Foxconn source familiar with the matter, who could not be +named because they were not authorised to speak to the press, +said the growth in December compared to the month prior for its +consumer electronics business, including smartphones, showed +major client Apple did not cut orders.A high base from a year earlier, when demand for smartphones +revived after the early impact of the pandemic, also led to the +yearly decline in revenue, the person added.Revenue for 2022 rose 10.47% from the previous year to a +record high, driven by growth across major product lines from +smartphones to servers, the company said.In the fourth quarter, the Zhengzhou plant grappled with +strict COVID-19 restrictions, now being eased, that fuelled +discontent among workers over conditions at the factory. It was +also hit by worker unrest over pay.Foxconn has offered bonuses to attract new workers and +convince others to stay on.A company source told Reuters last month it aimed for the +plant to resume full production around late December-to-early +January.Analysts say Foxconn assembles around 70% of iPhones, and +the Zhengzhou plant produces the majority of its premium models +including iPhone 14 Pro.The company said in Thursday's statement it expects +first-quarter revenue "to be roughly in line with market +consensus," without elaborating.Analysts expect first-quarter revenue to grow by 5.6% +year-on-year, according to Refinitiv.Foxconn shares closed down 0.1%, below the broader market +which ended up 0.72%.(Reporting by Sarah Wu and Yimou Lee; Editing by Christopher +Cushing, Emelia Sithole-Matarise and Barbara Lewis) \ No newline at end of file diff --git a/news/AAPL/2023.01.05/Foxconn says output back to normal after protests.txt b/news/AAPL/2023.01.05/Foxconn says output back to normal after protests.txt new file mode 100644 index 0000000000000000000000000000000000000000..d57efd3ce481684a87312368ab516f2c1dea3f9c --- /dev/null +++ b/news/AAPL/2023.01.05/Foxconn says output back to normal after protests.txt @@ -0,0 +1 @@ +In the fourth quarter, production of iPhones faced disruption as a key factory grappled with strict health-crisis restrictions that fueled discontent among workers over conditions at the factory. Staff also protested over pay. But on Thursday (January 5) Foxconn said that output at the factory in China had returned to normal, and that December sales were better than it expected.The company said revenue for 2022 rose almost 10.5% from the previous year to a record high, driven by growth across major product lines from smartphones to servers.Analysts say Foxconn assembles around 70% of iPhones, and the Zhengzhou plant produces the majority of its premium models, including the iPhone 14 Pro.A company source told Reuters last month it aimed for the plant to resume full production around late December-to-early January.Foxconn shares closed down 0.1%, below the broader market which ended up over 0.7%. \ No newline at end of file diff --git a/news/AAPL/2023.01.05/MarketScreener's World Press Review: January 5, 2023.txt b/news/AAPL/2023.01.05/MarketScreener's World Press Review: January 5, 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..48f87d42606deb4762290f15e933436d371966c8 --- /dev/null +++ b/news/AAPL/2023.01.05/MarketScreener's World Press Review: January 5, 2023.txt @@ -0,0 +1,11 @@ + +Next, Glencore, HSBC, Legal & General, Dignity, B&M European Value Retail, Ryanair, Meta, Shopify, Microsoft, Amazon, Salesforce, Coinbase, BlackRock, Dell, Walgreens Boots Alliance, CVS Health, Rite Aid, Cineworld, Apple, Foxconn, Luxshare Precision, Sony, Qualcomm, Honda, Alphabet feature in this press review! + + + + +  + +  +  +  diff --git a/news/AAPL/2023.01.05/Qualcomm, Iridium partner to bring satellite-based messaging to Android phones.txt b/news/AAPL/2023.01.05/Qualcomm, Iridium partner to bring satellite-based messaging to Android phones.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d1494f71efc374a7de1d2e7f8c88b871646d3d9 --- /dev/null +++ b/news/AAPL/2023.01.05/Qualcomm, Iridium partner to bring satellite-based messaging to Android phones.txt @@ -0,0 +1,20 @@ +Jan 5 (Reuters) - Qualcomm Inc has partnered +with Iridium Communications Inc to provide a +satellite-based messaging service on premium smartphones running +Google's Android operating system, the chipmaker said on +Thursday.The partnership comes months after Apple Inc +unveiled a similar feature allowing iPhone 14 models to send +emergency messages via satellite in some countries such as the +United States and Canada. Those phones also contain a Qualcomm +chip that can talk to satellites when there is no Wi-Fi or +cellular data connection.Qualcomm said on Thursday the new service, Snapdragon +Satellite, will be available in certain regions from the second +half of 2023 starting devices using the second generation +Snapdragon 8 mobile platform.Snapdragon Satellite can also be enabled on other devices +including laptops, vehicles and tablets, it added, without +specifying if those devices would need any special equipment.Using Qualcomm's technology messages sent through the +service will reach Iridium's satellite network. They will then +be communicated to the recipient or emergency services.GPS-based gadget maker Garmin Ltd will coordinate +emergency response services to users, Qualcomm said. +(Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee in +San Francisco; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AAPL/2023.01.05/Taiwan exports seen declining for fourth straight m...txt b/news/AAPL/2023.01.05/Taiwan exports seen declining for fourth straight m...txt new file mode 100644 index 0000000000000000000000000000000000000000..1f993655de66f91a19ca21c4a2c375c51180360f --- /dev/null +++ b/news/AAPL/2023.01.05/Taiwan exports seen declining for fourth straight m...txt @@ -0,0 +1 @@ +Taiwan, a global hub for chip production and a key supplier to Apple Inc, is one of Asia's leading exporters of technology goods. The trade data is seen as an important gauge of world demand for tech gadgets.Exports last month were estimated to have dropped 13.3% from a year earlier, a Reuters poll of 12 analysts showed on Thursday, slightly faster than the 13.1% annual contraction seen in November.The export forecasts varied widely, projecting a contraction of between 7.9% and 19.5%. The variation reflected uncertainties over the global economy, supply chain disruptions due to pandemic lockdowns in China, and the fallout of Russia and Ukraine war.Taiwan's finance ministry said last month December exports could be down by 8% to 12% from a year earlier.Separately, the consumer price index was expected to have been 2.5% higher in December than a year earlier, rising faster than the 2.35% annual rate seen in November, according to the poll.The inflation data will be released on Friday followed by the trade data on Saturday. (Reporting By Yimou Lee; Polling by Anant Chandak; Editing by Bradley Perrett) \ No newline at end of file diff --git a/news/AAPL/2023.01.06/New Hope For Patent Owners Who Can't Or Don't File Formal Responses?.txt b/news/AAPL/2023.01.06/New Hope For Patent Owners Who Can't Or Don't File Formal Responses?.txt new file mode 100644 index 0000000000000000000000000000000000000000..299df4ed9468add43808f4971263def58def639a --- /dev/null +++ b/news/AAPL/2023.01.06/New Hope For Patent Owners Who Can't Or Don't File Formal Responses?.txt @@ -0,0 +1,12 @@ +Apple Inc. v. Zipit Wireless, Inc. (IPR2021-01124, -01125, -01126, -01129)Director Kathi Vidal has issued a new precedential decision sua sponte that impacts the standard for abandonment of contest in inter partes reviews (IPRs). The decision comes after the Patent Trial and Appeal Board (Board) issued four adverse judgments against patent owner Zipit Wireless, Inc. (Zipit). In June 2021, Apple Inc. filed six petitions for IPRs and these six cases were all assigned to the same panel of APJs. The Board instituted IPRs in all six cases and, in response, Zipit filed Patent Owner Responses to two of the IPRs but chose not to file responses in the remaining four IPRs.The Board subsequently held a hearing on September 21, 2022, during which Zipit was asked whether it was "not contesting if a final written decision or adverse judgment was entered with respect to those IPRs" (referring to the four IPRs not formally opposed with a Patent Owner Response). Zipit responded that it did not file any opposition to the four IPRs and would not contest a final written judgment or adverse opinion if the "Board determines they [Apple, as the petitioner] have met their burden of proof." The Board took Zipit's statements as an abandonment of the contested proceedings, and thereafter issued the four adverse judgments under 37 C.F.R. § 42.73(b)(4).However, the Board's reasoning for the adverse judgment spawned Director Vidal's sua sponte precedential decision. The Director observed that Zipit's non-opposition was not abandonment of the contest, but rather should be more properly interpreted as Zipit stating that it wanted the Board to weigh petitioner's evidence and make the necessary determination under the procedural standard used in IPRs. Because the Board erroneously took Zipit's statements as a complete abandonment, Director Vidal vacated the Board's adverse judgments and remanded to the panel to determine whether Zipit did abandon the contest and, if not, to issue a final written decision on the merits addressing the patentability of the challenged claims.The Director's decision is a reminder of how carefully a patent owner may need to choose its words during an IPR, but the decision also highlights the potential gap in how the procedural burden to institute an IPR differs from the burden used to make a final determination in an IPR. Specifically, under 35 U.S.C. § 314, an IPR may not be instituted unless the petitioner establishes a reasonable likelihood that they will prevail on at least one claim. Once instituted, however, IPRs are conducted according to 35 U.S.C. § 316, which burdens the petitioner with showing unpatentability by a preponderance of evidence. Director Vidal's decision appears to be at least a small win for patent owners because it appears to clarify that patent owners have the choice of not formally participating in an IPR (to save resources, for example), while still asking that the Board make the requisite findings of unpatentability based on the petition and accompanying evidence.At the same time, this decision leaves open the question of whether the different standards applied for institution versus final written decisions would ever lead to the circumstance that the former burden is met but not the latter, at least in the circumstance where a patent owner chooses to not file a formal Patent Owner Response. It seems feasible that the Board could institute on claims A and B due to the strength of the petition against claim A alone, but eventually uphold claim B in a final written decision even where the patent owner does not contest the proceeding via the filing of a formal response. Future decisions from the Board in these and other similar cases should help shed further light on any practical differences between the standard for institution versus the standard for a final finding of unpatentability.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Ms Uzma Ahmed +Foley & Lardner +321 North Clark Street, Suite 2800 +Chicago +IL 60654-5313 +UNITED STATES +Tel: 312832 4500 +Fax: 312832 4700 +E-mail: info@foley.com +URL: www.foley.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AAPL/2023.01.06/Samsung profits fall to 8-year low on demand slump.txt b/news/AAPL/2023.01.06/Samsung profits fall to 8-year low on demand slump.txt new file mode 100644 index 0000000000000000000000000000000000000000..74193eb1bc2ec842b8d26431fa04afb4dc27af23 --- /dev/null +++ b/news/AAPL/2023.01.06/Samsung profits fall to 8-year low on demand slump.txt @@ -0,0 +1 @@ +As a flagging global economy hammered memory-chip prices and curbed demand for electronic devices.It was Samsung's smallest quarterly profit since the third quarter of 2014.The dismal estimate is a bellwether for global consumer demand.Samsung's profits are expected to shrink again in the current quarter, analysts said, with a glut driving a further drop in memory-chip prices.The South Korean company - the world's largest memory chip, smartphone and TV maker - announced its October-December operating profit likely fell 69% to 4.3 trillion won, or $3.37 billion, from 13.87 trillion won a year earlier.Rising global interest rates and the cost of living have not only dampened demand for smartphones and other devices but also for the semiconductors Samsung supplies to rivals such as Apple.The firm said in the statement the fall in demand was greater than expected. Despite that, Samsung shares closed 1.4% higher on Friday.One analyst said that was because investors hoped Samsung would have to reduce production, which would help the memory industry overall. Industry watchers also say the firm can use its deep pockets during this downturn to maintain its investment plans and expand market share. \ No newline at end of file diff --git a/news/AAPL/2023.01.06/Stocks rally as jobs report calms rate hike worries.txt b/news/AAPL/2023.01.06/Stocks rally as jobs report calms rate hike worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..f94619f7bb484159fa1b2690c696241bb2c6559a --- /dev/null +++ b/news/AAPL/2023.01.06/Stocks rally as jobs report calms rate hike worries.txt @@ -0,0 +1 @@ +The Dow rose more than 2%, the S&P 500 gained more than two and a quarter, while the Nasdaq jumped more than two and a half percent. The U.S. Labor Department's non-farm payrolls report showed 223,000 jobs were added last month, but lower-than-expected wage gains were welcomed by those seeking signs of slowing inflation. Geetu Sharma, founder and investment manager at AlphasFuture, said it was the best sign yet that the Fed's plan to tame inflation without triggering a recession might work."We definitely had a good jobs report. We not only have a strong labor market, wage growth is less than expected, although I think it's still kind of high, so it's not that we are seeing much decline in inflation concerns but, on a relative basis, wage growth has come in lower than expected and that is raising the odds of a soft landing, if there are any." As for individual stocks, Costco jumped more than 7% after the membership-only retailer reported strong December sales growth.Shares of Pfizer rose 2.5% after reports of talks with China to secure a license that will allow domestic drugmakers to manufacture and distribute a generic version of its COVID-19 antiviral drug Paxlovid in China. Megacap tech stocks, including Apple and Amazon, posted big gains on Friday after a rocky week. But shares of Bed Bath & Beyond continued their downward slide, falling 22.5% to close at just $1.31 a share, after Reuters reported that the home goods retailer was preparing to seek bankruptcy protection in the coming weeks. \ No newline at end of file diff --git a/news/AAPL/2023.01.06/Wall St jumps as jobs, services data calm rate hike worries.txt b/news/AAPL/2023.01.06/Wall St jumps as jobs, services data calm rate hike worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..ebdcb582a4f6d15fa7d40559e07d27f197fc4091 --- /dev/null +++ b/news/AAPL/2023.01.06/Wall St jumps as jobs, services data calm rate hike worries.txt @@ -0,0 +1,43 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*U.S. December payrolls up 223,000 vs est 200,000*Pfizer up on report of talks with China for generic COVID +drug*Indexes up: Dow 1.83%, S&P 1.82%, Nasdaq 1.82%Jan 6 (Reuters) - Wall Street's main indexes rallied on +Friday as data that showed cooling wages and a contraction in +U.S. services activity eased worries over the Federal Reserve's +rate-hike trajectory.The nonfarm payrolls rose by 223,000 jobs in December, data +from the Labor Department showed, while a 0.3% rise in average +earnings was smaller than expected and lower than the previous +month.The numbers for November were revised to show nonfarm +payrolls rose by 256,000 and average earnings grew by 0.4%.Another set of data showed U.S. services activity contracted +for the first time in more than 2-1/2 years in December amid +weakening demand, with more signs of inflation easing."These are all the signs that show that Fed's policy is +working," said Mike Loewengart, head of model portfolio +construction at Morgan Stanley Global Investment Office in New +York."That is what investors are relieved to see because it shows +that they are not going to have to become much more restrictive +than they have."Big technology and other growth stocks such as Apple Inc +and Meta Platforms Inc rose around 2% each, +boosted by a decline in the 10-year U.S. Treasury yield.A resilient labor market has powered the economy through +consumer spending, but could prompt the Fed to lift its target +interest rate above the 5.1% peak it had projected last month +and keep it there for a while.Money market participants now see 75% chance that the U.S. +central bank will raise the benchmark rate by 25-basis point in +February and keep the terminal rate just below 5% by June.Also aiding sentiment were Fed officials acknowledging +cooling wage growth and other signs of the economy gradually +slowing, with Atlanta President Raphael Bostic hinting at the +chances of a quarter percentage point hike at the next policy +meeting.At 12:11 a.m. ET, the Dow Jones Industrial Average +was up 601.66 points, or 1.83%, at 33,531.74, the S&P 500 +was up 69.18 points, or 1.82%, at 3,877.28, and the Nasdaq +Composite was up 187.11 points, or 1.82%, at 10,492.35.All the major S&P 500 indexes gained, led by consumer +staples, which rose 6.6% on boost from Costco +Wholesale Corp after the membership-only retail chain +reported strong sales growth in December.Pfizer Inc advanced 2.5% on reports of talks with +China to secure a license that will allow domestic drugmakers to +manufacture and distribute a generic version of the U.S. firm's +COVID-19 antiviral drug Paxlovid in China.Bed Bath & Beyond Inc slid 20.4% after Reuters +reported that the home goods retailer was preparing to seek +bankruptcy protection in coming weeks.Advancing issues outnumbered decliners by a 7.02-to-1 ratio +on the NYSE and 2.61-to-1 ratio on the Nasdaq.The S&P index recorded 16 new 52-week highs and five new +lows, while the Nasdaq recorded 65 new highs and 59 new lows. +(Reporting by Shubham Batra, Ankika Biswas and Shashwat Chauhan +in Bengaluru; Editing by Shounak Dasgupta and Arun Koyyur) \ No newline at end of file diff --git a/news/AAPL/2023.01.07/Apple Hires Workers In India As It Looks To Open First Flagship Stores - FT.txt b/news/AAPL/2023.01.07/Apple Hires Workers In India As It Looks To Open First Flagship Stores - FT.txt new file mode 100644 index 0000000000000000000000000000000000000000..60c365836b8b67e81f404ddeb13974455cb54f5d --- /dev/null +++ b/news/AAPL/2023.01.07/Apple Hires Workers In India As It Looks To Open First Flagship Stores - FT.txt @@ -0,0 +1,5 @@ +Jan 7 (Reuters) -* APPLE HIRES WORKERS IN INDIA AS IT LOOKS TO OPEN FIRST +FLAGSHIP +STORES - FT +Source text: https://on.ft.com/3Xis7M1 +Further company coverage: \ No newline at end of file diff --git "a/news/AAPL/2023.01.07/Apple hires workers in india as it looks to open first flagship\342\200\246.txt" "b/news/AAPL/2023.01.07/Apple hires workers in india as it looks to open first flagship\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c58888a19ac06b9c27dfbbe3f389821b163ff42e --- /dev/null +++ "b/news/AAPL/2023.01.07/Apple hires workers in india as it looks to open first flagship\342\200\246.txt" @@ -0,0 +1 @@ +APPLE HIRES WORKERS IN INDIA AS IT LOOKS TO OPEN FIRST FLAGSHIP STORES - FT \ No newline at end of file diff --git a/news/AAPL/2023.01.07/Taiwan exports fall for 4th month in December, decline seen extending into Q1.txt b/news/AAPL/2023.01.07/Taiwan exports fall for 4th month in December, decline seen extending into Q1.txt new file mode 100644 index 0000000000000000000000000000000000000000..bb13ee451772573ff32d48c519847070368a7865 --- /dev/null +++ b/news/AAPL/2023.01.07/Taiwan exports fall for 4th month in December, decline seen extending into Q1.txt @@ -0,0 +1 @@ +Exports dropped 12.1% by value last month from a year earlier to $35.75 billion, the lowest in 20 months, the Ministry of Finance said on Saturday.That followed a 13.1% drop in November, and was slightly better than Reuters poll forecast for a 13.3% contraction.For December, the ministry said global demand was slowing gradually, due to inflationary pressures and interest rate rises in major economies, as well as disruptions to factory production in China amid a spike of COVID-19 cases after Beijing dismantled its zero-COVID regime.The ministry saw Taiwan's exports continuing to decline in the first quarter as it expected the global economy to "slow significantly", with major uncertainties posed by both the war in Ukraine and the spread of COVID-19 in China."The positive demand driven by new technologies and rising silicon content in end products would not be able to offset these negative impacts," the ministry said in a statement. Taiwan's total exports of electronics components in December fell 1.4% to $16.04 billion, with semiconductor exports up 0.8% from a year earlier.Firms such as TSMC, the world's largest contract chipmaker, are major suppliers to Apple Inc and other global tech giants, as well as providers of chips for auto companies and lower-end consumer goods.At $14.28 billion in December, Taiwan's exports to China, the island's largest trading partner, were down 16.4% from a year ago, after suffering a 20.9% drop in November.Taiwan's finance ministry said risks ahead included uncertainty the U.S.-China tech war, adding that January exports could contract in a range of 20% to 24% from a year earlier.The ministry's Tsai said fourth quarter exports -traditionally a busy season ahead of Christmas - dropped 8.6% year-on-year.December's exports to the United States were down 2.6%, compared with an 11.3% contraction recorded the previous month.Taiwan's December imports, often seen as a leading indicator of re-exports of finished products, fell 11.4% to $30.96 billion, compared with economists' expectations of a 10.2% fall and after a drop of 8.6% in November. (Reporting by Liang-sa Loh and Yimou Lee; Editing by Simon Cameron-Moore) \ No newline at end of file diff --git a/news/AAPL/2023.01.08/Protesters clash with police at COVID antigen kit maker factory in China, videos show.txt b/news/AAPL/2023.01.08/Protesters clash with police at COVID antigen kit maker factory in China, videos show.txt new file mode 100644 index 0000000000000000000000000000000000000000..d8706322ff361d317a981b65a670b4deedf1e014 --- /dev/null +++ b/news/AAPL/2023.01.08/Protesters clash with police at COVID antigen kit maker factory in China, videos show.txt @@ -0,0 +1 @@ +Online users said the protest was over wages and the layoff of several workers by the manufacturer, Zybio, in the central municipality of Chongqing.Reuters was unable to obtain any immediate comment from Zybio, but verified, via geolocation, that some of videos were filmed at the company's factory in Chongqing. One video showed people throwing traffic cones, boxes and stools at police carrying riot shields. Another video, posted on social media platforms such as Twitter and Douyin, showed dozens of protesters chanting "return our money". A person who answered a phone call at Zybio's headquarters declined to comment on Sunday. Emails to the company were not immediately answered.Protests are not rare in China, which has over the years seen people demonstrate over issues such as financial scams or labour disputes. But authorities have been on higher alert after a series of protests late last year, including worker unrest at Apple supplier Foxconn's massive iPhone factory in central China, as well as widespread protests in Chinese cities and top universities against COVID restrictions. (Reporting by Brenda Goh; Editing by Simon Cameron-Moore) \ No newline at end of file diff --git a/news/AAPL/2023.01.09/Apple Plans To Drop Key Broadcom Chip To Use In-House Design- Bloomberg News.txt b/news/AAPL/2023.01.09/Apple Plans To Drop Key Broadcom Chip To Use In-House Design- Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..eae4c60f266d6b1f04ccb4d6ece7f8beea58ca7f --- /dev/null +++ b/news/AAPL/2023.01.09/Apple Plans To Drop Key Broadcom Chip To Use In-House Design- Bloomberg News.txt @@ -0,0 +1,8 @@ +Jan 9 (Reuters) -* APPLE PLANS TO DROP KEY BROADCOM CHIP TO USE IN-HOUSE +DESIGN- +BLOOMBERG NEWS* APPLE IS ALSO SWAPPING OUT QUALCOMM FOR HOMEGROWN MODEM - +BLOOMBERG NEWS* APPLE ALSO AIMS TO READY ITS FIRST CELLULAR MODEM CHIP BY +THE +END OF 2024 OR EARLY 2025 - BLOOMBERG NEWS +Source text [https://bit.ly/3Zlxvjg] +Further company coverage: \ No newline at end of file diff --git "a/news/AAPL/2023.01.09/Apple also aims to ready its first cellular modem chip by the en\342\200\246.txt" "b/news/AAPL/2023.01.09/Apple also aims to ready its first cellular modem chip by the en\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..9b5307614a0a4dc282fdecfef324757457e013af --- /dev/null +++ "b/news/AAPL/2023.01.09/Apple also aims to ready its first cellular modem chip by the en\342\200\246.txt" @@ -0,0 +1 @@ +APPLE ALSO AIMS TO READY ITS FIRST CELLULAR MODEM CHIP BY THE END OF 2024 OR EARLY 2025 - BLOOMBERG NEWS \ No newline at end of file diff --git "a/news/AAPL/2023.01.09/Apple is also swapping out qualcomm for homegrown modem - bloomb\342\200\246.txt" "b/news/AAPL/2023.01.09/Apple is also swapping out qualcomm for homegrown modem - bloomb\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..47ce321f1629d4eb8ed72e5092146129084bc62b --- /dev/null +++ "b/news/AAPL/2023.01.09/Apple is also swapping out qualcomm for homegrown modem - bloomb\342\200\246.txt" @@ -0,0 +1 @@ +APPLE IS ALSO SWAPPING OUT QUALCOMM FOR HOMEGROWN MODEM - BLOOMBERG NEWS \ No newline at end of file diff --git "a/news/AAPL/2023.01.09/Apple plans to drop key broadcom chip to use in-house design- bl\342\200\246.txt" "b/news/AAPL/2023.01.09/Apple plans to drop key broadcom chip to use in-house design- bl\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c3f7ca25a4f15d220cc3ea4c399e510ca48f146d --- /dev/null +++ "b/news/AAPL/2023.01.09/Apple plans to drop key broadcom chip to use in-house design- bl\342\200\246.txt" @@ -0,0 +1 @@ +APPLE PLANS TO DROP KEY BROADCOM CHIP TO USE IN-HOUSE DESIGN- BLOOMBERG NEWS \ No newline at end of file diff --git a/news/AAPL/2023.01.09/Apple to drop key Broadcom chip in 2025 for in-house design - Bloomberg News.txt b/news/AAPL/2023.01.09/Apple to drop key Broadcom chip in 2025 for in-house design - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..0a5709495e65947c27dabae7634c3070bbd1ed38 --- /dev/null +++ b/news/AAPL/2023.01.09/Apple to drop key Broadcom chip in 2025 for in-house design - Bloomberg News.txt @@ -0,0 +1 @@ +The iPhone-maker is also swapping out Qualcomm Inc for homegrown modems, according to the report.Apple, Broadcom and Qualcomm did not immediately reply to Reuters' requests for comments. (Reporting by Yuvraj Malik in Bengaluru) \ No newline at end of file diff --git a/news/AAPL/2023.01.09/Apple's VP services Stern to depart - Insider.txt b/news/AAPL/2023.01.09/Apple's VP services Stern to depart - Insider.txt new file mode 100644 index 0000000000000000000000000000000000000000..2c6ad200a80263dcc409c541a271a70c68f5ba18 --- /dev/null +++ b/news/AAPL/2023.01.09/Apple's VP services Stern to depart - Insider.txt @@ -0,0 +1 @@ +Stern, who joined the iPhone maker from Time Warner Cable in 2016, will leave at the end of the month, according to the report. Apple did not immediately respond to a Reuters request for comment. A prominent media executive, Stern oversaw an expansion of Apple's paid subscription businesses, particularly its television offering, Apple TV+.The services business features News+, Fitness+ and iCloud+, among other subscription services, a key focus for Apple as it looks to diversify revenue away from gadget sales. The unit generated $19.19 billion in the fourth quarter ended September, up 5% from the previous year. The Insider report said Apple is reorganizing its services unit and Stern's responsibilities will be split into three separate divisions. (Reporting by Yuvraj Malik in Bengaluru; Editing by Devika Syamnath) \ No newline at end of file diff --git a/news/AAPL/2023.01.09/Apple's iPhone Exports From India Double To Record $2.5 Billion - Bloomberg News.txt b/news/AAPL/2023.01.09/Apple's iPhone Exports From India Double To Record $2.5 Billion - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..2873bc4701d70a012483f4bfa00c8c814a987b02 --- /dev/null +++ b/news/AAPL/2023.01.09/Apple's iPhone Exports From India Double To Record $2.5 Billion - Bloomberg News.txt @@ -0,0 +1,4 @@ +Jan 9 (Reuters) -* APPLE'S IPHONE EXPORTS FROM INDIA DOUBLE TO RECORD $2.5 +BILLION +- BLOOMBERG NEWS +Further company coverage: \ No newline at end of file diff --git "a/news/AAPL/2023.01.09/Apple's iphone exports from india double to record $2.5 bln - bl\342\200\246.txt" "b/news/AAPL/2023.01.09/Apple's iphone exports from india double to record $2.5 bln - bl\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..1d50f2f75aa5809adacaf8bae95eaad35c7e8df6 --- /dev/null +++ "b/news/AAPL/2023.01.09/Apple's iphone exports from india double to record $2.5 bln - bl\342\200\246.txt" @@ -0,0 +1 @@ +APPLE'S IPHONE EXPORTS FROM INDIA DOUBLE TO RECORD $2.5 BLN - BLOOMBERG NEWS \ No newline at end of file diff --git a/news/AAPL/2023.01.09/MarketScreener's World Press Review: January 9 .txt b/news/AAPL/2023.01.09/MarketScreener's World Press Review: January 9 .txt new file mode 100644 index 0000000000000000000000000000000000000000..a18daa60dbe71ccbe5d0e47a40fb24915a0465db --- /dev/null +++ b/news/AAPL/2023.01.09/MarketScreener's World Press Review: January 9 .txt @@ -0,0 +1,12 @@ + +Softbank, Hargreaves Lansdown, Walt Disney, Goldman Sachs, Deere & Co, Eisai & Biogen, Tesla, Amazon, Apple, Alphabet and Meta, General Electric & GE healthcare, Johnson & Johnson, Baxter, Novartis, Carnival, Royal Caribbean, Norwegian Cruise, Comcast, Adobe, Rakuten and SK Bioscience feature in this press review! + + + + +  +  + +  +  +  diff --git a/news/AAPL/2023.01.09/Nasdaq leads Wall St higher as interest rate worries ease.txt b/news/AAPL/2023.01.09/Nasdaq leads Wall St higher as interest rate worries ease.txt new file mode 100644 index 0000000000000000000000000000000000000000..225779d0e7722a0258afe0c68e0d52ffae81b6d3 --- /dev/null +++ b/news/AAPL/2023.01.09/Nasdaq leads Wall St higher as interest rate worries ease.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window)*Amazon up as Jefferies sees easing costs*Alibaba climbs as Ant Group's Jack Ma to cede control*Macy's, Lululemon drop on holiday-quarter warnings*Indexes up: Dow 0.39%, S&P 0.85%, Nasdaq 1.52%Jan 9 (Reuters) - The tech-heavy Nasdaq led gains among +the main Wall Street indexes on Monday, boosted by shares of +Amazon and Tesla, while signs of a cooling labor market +supported bets of a slower pace of interest rate hikes by the +Federal Reserve.Amazon.com Inc rose 3.4% after Jefferies said it +saw cost pressures easing for the e-commerce giant in the second +half of the year.Tesla Inc climbed 7.5% after the electric-vehicle +maker indicated longer waiting times for some versions of the +Model Y in China, signaling the recent price cuts could be +stoking demand.Other rate-sensitive growth stocks like Apple Inc +and Alphabet Inc gained about 1% each as U.S. Treasury +yields declined.The gains pushed technology to the top of the +major S&P 500 sector indexes list. The S&P 500 growth index +was up 3.6%, outperforming a 0.7% rise in its value peers +.The benchmark S&P 500 and the Nasdaq closed +the week higher on Friday after a moderation in wage increases +and a decline in U.S. services activity in December buoyed hopes +of a less hawkish stance from the Fed as well as a soft landing +for the U.S. economy."The number of jobs created is working its way down slowly +and wages are starting to calm down. Both of those are important +for inflation coming under control, without necessarily +careening the U.S economy to a recession," said Art Hogan, chief +market strategist at B. Riley Financial.The highly awaited U.S. Labor Department's inflation report +on Thursday is expected to show some moderation in year-on-year +consumer prices in December.Money market bets show 75% odds of a 25-basis point hike in +the Fed's February policy meeting, with the terminal rate +expected just below 5% by June.Other economic data such as weekly jobless claims and the +University of Michigan's consumer sentiment report will also be +in focus this week, as big U.S. banks kick off the quarterly +earnings season on Friday.A slew of Fed officials including Chair Jerome Powell are +due to speak this week, with investors parsing their commentary +for more clues on the rate-hike trajectory.U.S.-listed shares of Alibaba Group Holding Ltd +rose 2.7% on news that Ant Group's founder Jack Ma will give up +control of the Chinese fintech giant in an overhaul.At 9:58 a.m. ET, the Dow Jones Industrial Average was +up 132.40 points, or 0.39%, at 33,763.01, the S&P 500 was +up 33.17 points, or 0.85%, at 3,928.25, and the Nasdaq Composite +was up 160.39 points, or 1.52%, at 10,729.69.Macy's Inc and Lululemon Athletica Inc +dropped 8.7% and 10.3%, respectively, following dour +holiday-quarter forecasts from both the retailers.Other retailers such as Kohl's Corp and Nordstrom +Inc also took a hit, down 4.3% and 2.9%, respectively.Advancing issues outnumbered decliners for a 3.68-to-1 ratio +on the NYSE and a 2.15-to-1 ratio on the Nasdaq.The S&P index recorded 10 new 52-week highs and two new +lows, while the Nasdaq recorded 95 new highs and 14 new lows. +(Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas +in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AAPL/2023.01.09/Nasdaq leads gains on Wall Street as interest rate worries ease.txt b/news/AAPL/2023.01.09/Nasdaq leads gains on Wall Street as interest rate worries ease.txt new file mode 100644 index 0000000000000000000000000000000000000000..cde02fb37a92360a3101361136d34bc1be12f0af --- /dev/null +++ b/news/AAPL/2023.01.09/Nasdaq leads gains on Wall Street as interest rate worries ease.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Amazon up as Jefferies sees easing costs*Alibaba climbs as Ant Group's Jack Ma to give up control*Macy's, Lululemon drop on holiday-quarter warnings*Indexes up: Dow 0.68%, S&P 1.24%, Nasdaq 2.03%Jan 9 (Reuters) - The Nasdaq rose more than 2% on Monday +with Big Tech and growth stocks spearheading gains as recent +signs of a cooling labor market supported bets of a slower pace +of interest rate hikes by the Federal Reserve.Megacap growth stocks Apple Inc, Alphabet Inc +and Microsoft Corp gained over 2% each as +U.S. Treasury yields declined.Amazon.com Inc rose 3.4% after Jefferies said it +saw cost pressures easing for the e-commerce giant in the second +half of the year.Tesla Inc climbed 7% after the electric-vehicle +maker indicated longer waiting times for some versions of the +Model Y in China, signaling the recent price cuts could be +stoking demand.The gains pushed technology to the top of the +major S&P 500 sector indexes list, while consumer discretionary +stocks also rose with a near 2% gain.The benchmark S&P 500 and the Nasdaq closed +the week higher on Friday after a moderation in wage increases +and a decline in U.S. services activity in December buoyed hopes +of a less hawkish stance from the Fed as well as a soft landing +for the U.S. economy."The number of jobs created is working its way down slowly +and wages are starting to calm down. Both of those are important +for inflation coming under control, without necessarily +careening the U.S economy to a recession," said Art Hogan, chief +market strategist at B. Riley Financial.The highly awaited U.S. Labor Department's inflation report +on Thursday is expected to show some moderation in year-on-year +consumer prices in December.Money market bets show 79% odds of a 25-basis point hike in +the Fed's February policy meeting, with the terminal rate +expected at 4.92% by June.The CPI report would be crucial in shaping expectations for +when the Fed is close to the end of its tightening cycle and is +likely to show inflation is starting to move down, Jon Maier, +chief investment officer at Global X ETFs, said.Other economic data such as weekly jobless claims and the +University of Michigan's consumer sentiment report will also be +in focus this week, as big U.S. banks kick off the quarterly +earnings season on Friday.A slew of Fed officials including Chair Jerome Powell are +due to speak this week, with investors ready to parse their +commentary for more clues on the rate-hike trajectory.U.S.-listed shares of Alibaba Group Holding Ltd +rose 3.7% on news that Ant Group's founder Jack Ma will give up +control of the Chinese fintech giant in an overhaul.At 11:41 a.m. ET, the Dow Jones Industrial Average +was up 229.32 points, or 0.68%, at 33,859.93, the S&P 500 +was up 48.49 points, or 1.24%, at 3,943.57, and the Nasdaq +Composite was up 214.41 points, or 2.03%, at 10,783.70.Macy's Inc and Lululemon Athletica Inc fell +7.7% and 7.9%, respectively, following dour holiday-quarter +forecasts from both the retailers.Advancing issues outnumbered decliners for a 4.45-to-1 ratio +on the NYSE and a 2.54-to-1 ratio on the Nasdaq.The S&P index recorded 12 new 52-week highs and two new +lows, while the Nasdaq recorded 107 new highs and 18 new lows. +(Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas +in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AAPL/2023.01.09/S&P 500 near flat as investors weigh chances of less aggressive rate hikes.txt b/news/AAPL/2023.01.09/S&P 500 near flat as investors weigh chances of less aggressive rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..47ceaf1dfa5ec2a736ac5a057d2c3c79c94325db --- /dev/null +++ b/news/AAPL/2023.01.09/S&P 500 near flat as investors weigh chances of less aggressive rate hikes.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tech shares gain*Macy's, Lululemon drop on holiday-quarter warnings*Indexes: Dow down 0.3%, S&P 500 down 0.1%, Nasdaq up 0.6%NEW YORK, Jan 9 (Reuters) - The S&P 500 index +erased early gains to close nearly flat on Monday as +expectations that the Federal Reserve will become less +aggressive with its interest rate hikes were offset by lingering +worries about inflation.The Dow ended lower, and the Nasdaq Composite ended +well off the day's highs.Investors are awaiting comments Tuesday from Fed Chair +Jerome Powell, who some strategists expect could say more time +is needed to show inflation is under control.Money market bets were showing 77% odds of a 25-basis point +hike in the Fed's February policy meeting.A consumer prices report due Thursday could be key for rate +expectations, said Quincy Krosby, chief global strategist, LPL +Financial in Charlotte, North Carolina. "The CPI report this +week is going to be essential for fine-tuning the Fed funds +futures market."Investors also may have sold some shares after recent +strong market gains, said Paul Nolte, portfolio manager at +Kingsview Investment Management in Chicago. "You're seeing a +little bit of profit-taking ahead of the CPI number due out this +week."The technology sector gained as Treasury yields +fell. Consumer discretionary stocks also rose, with +Amazon.com Inc up 1.5% after Jefferies said it saw cost +pressures easing for the e-commerce giant in the second half of +the year.Also, S&P 500 companies are about to kick off the +fourth-quarter earnings period, with results from top U.S. banks +expected later this week.The Dow Jones Industrial Average fell 112.96 points, +or 0.34%, to 33,517.65, the S&P 500 lost 2.99 points, or +0.08%, to 3,892.09 and the Nasdaq Composite added 66.36 +points, or 0.63%, to 10,635.65.Shares of Broadcom Inc fell in late trading to end +down 2% after Bloomberg, citing people familiar with the matter, +reported that Apple Inc plans to drop a Broadcom chip +in 2025 and use an in-house design instead.Friday's jobs report, which showed a moderation in wage +increases, lifted hopes that the Fed might become less +aggressive in its rate-hike push to reduce inflation.Tesla Inc shares rose 5.9% after the +electric-vehicle maker indicated longer waiting times for some +versions of the Model Y in China, signaling the recent price +cuts could be stoking demand.Macy's Inc fell 7.7% and Lululemon Athletica Inc +dropped 9.3% after both retailers issued disappointing +holiday-quarter forecasts.Volume on U.S. exchanges was 11.35 billion shares, compared +with the 10.90 billion average for the full session over the +last 20 trading days.Advancing issues outnumbered decliners on the NYSE by a +1.85-to-1 ratio; on Nasdaq, a 1.48-to-1 ratio favored advancers.The S&P 500 posted 13 new 52-week highs and two new +lows; the Nasdaq Composite recorded 129 new highs and 32 new +lows. +(Additional reporting by Shubham Batra, Amruta Khandekar and +Ankika Biswas in Bengaluru; Editing by Shounak Dasgupta and +Richard Chang) \ No newline at end of file diff --git a/news/AAPL/2023.01.09/U.S. Supreme Court lets Meta's WhatsApp pursue 'Pegasus' spyware suit.txt b/news/AAPL/2023.01.09/U.S. Supreme Court lets Meta's WhatsApp pursue 'Pegasus' spyware suit.txt new file mode 100644 index 0000000000000000000000000000000000000000..6cd0f2b9b3e4061bacad8293d15b98079d40e58c --- /dev/null +++ b/news/AAPL/2023.01.09/U.S. Supreme Court lets Meta's WhatsApp pursue 'Pegasus' spyware suit.txt @@ -0,0 +1,52 @@ +WASHINGTON, Jan 9 (Reuters) - The U.S. Supreme Court on +Monday let Meta Platforms Inc's WhatsApp pursue a +lawsuit accusing Israel's NSO Group of exploiting a bug in the +WhatsApp messaging app to install spy software allowing the +surveillance of 1,400 people, including journalists, human +rights activists and dissidents.The justices turned away NSO's appeal of a lower court's +decision that the lawsuit could move forward. NSO had argued +that it is immune from being sued because it was acting as an +agent for unidentified foreign governments when it installed the +"Pegasus" spyware.President Joe Biden's administration had urged the justices +to reject NSO's appeal, noting that the U.S. State Department +had never before recognized a private entity acting as an agent +of a foreign state as being entitled to immunity.Meta, the parent company of both WhatsApp and Facebook, in a +statement welcomed the court's move to turn away NSO's +"baseless" appeal."NSO's spyware has enabled cyberattacks targeting human +rights activists, journalists and government officials," Meta +said. "We firmly believe that their operations violate U.S. law +and they must be held to account for their unlawful operations."A lawyer for NSO did not immediately respond to a request +for comment.WhatsApp in 2019 sued NSO seeking an injunction and damages, +accusing it of accessing WhatsApp servers without permission six +months earlier to install the Pegasus software on victims' +mobile devices.NSO has argued that Pegasus helps law enforcement and +intelligence agencies fight crime and protect national security +and that its technology is intended to help catch terrorists, +pedophiles and hardened criminals.In court papers, NSO said that WhatsApp's notification to +users scuttled a foreign government's investigation into an +Islamic State militant who was using the app to plan an attack.In one notorious case, NSO spyware was used - allegedly by +the Saudi government - to target the inner circle of Washington +Post journalist Jamal Khashoggi shortly before he was murdered +at the Saudi consulate in Istanbul.NSO appealed a trial judge's 2020 refusal to award it +"conduct-based immunity," a common law doctrine protecting +foreign officials acting in their official capacity.Upholding that ruling in 2021, the San Francisco-based 9th +U.S. Circuit Court of Appeals called it an "easy case" because +NSO's mere licensing of Pegasus and offering technical support +did not shield it from liability under a federal law called the +Foreign Sovereign Immunities Act, which took precedence over +common law.WhatsApp's lawyers said that private entities like NSO are +"categorically ineligible" for foreign sovereign immunity.The Biden administration in a filing in November said the +9th Circuit reached the right result, even though the government +was not ready to endorse the circuit court's conclusion that +FSIA entirely forecloses any form of immunity under common law.According to court papers, the accounts of 1,400 WhatsApp +users were accessed using the Pegasus tracking software, +secretly using their smartphones as surveillance devices.An investigation published in 2021 by 17 media +organizations, led by the Paris-based non-profit journalism +group Forbidden Stories, found that the spyware had been used in +attempted and successful hacks of smartphones belonging to +journalists, government officials and human rights activists on +a global scale.The U.S. government in November 2021 blacklisted NSO and +Israel's Candiru, accusing them of providing spyware to +governments that used it to "maliciously target" journalists, +activists and others.NSO also is being sued by iPhone maker Apple Inc, +accused of violating its user terms and services agreement.(Reporting by Nate Raymond in Boston; Editing by Will Dunham) \ No newline at end of file diff --git a/news/AAPL/2023.01.10/Analyst recommendations: Admiral, Apple, AT&T, Boeing, NetApp....txt b/news/AAPL/2023.01.10/Analyst recommendations: Admiral, Apple, AT&T, Boeing, NetApp....txt new file mode 100644 index 0000000000000000000000000000000000000000..9691127fdea3a325d696ff77d1c2ab62fa55fd7c --- /dev/null +++ b/news/AAPL/2023.01.10/Analyst recommendations: Admiral, Apple, AT&T, Boeing, NetApp....txt @@ -0,0 +1,24 @@ + +  + +Admiral: Deutsche Bank upgraded from hold to buy. +Ally Financial: Jefferies downgrades to hold from buy. PT down 4.6% to $25. +Apple: Bernstein adjusts PT to $125 from $170, Maintains Market Perform rating. +Ashmore: Barclays moves from Overweight to Equal weight with a GBp 280 target. +AT&T: Wells Fargo upgrades to overweight from equal-weight. PT up 16% to $22. +Boeing: Morgan Stanley downgrades to equal-weight from overweight. PT up 5.5% to $220. +BT Group: Jefferies remains Buy with a price target reduced from GBp 250 to GBp 190. +Camden Property: Mizuho Securities upgrades to buy from neutral. PT up 11% to $125. +Centrica: Exane BNP Paribas resumes its Outperform rating, targeting GBp 150. +Clarkson: HSBC upgrades from buy to hold targeting GBp 3400. +Keysight: Barclays upgrades to overweight from equal-weight. PT up 14% to $202. +Nabors: Barclays upgrades to overweight from equal-weight. PT jumps 30% to $200. +NetApp: Barclays downgrades to equal-weight from overweight. PT up 11% to $71. +Next: Investec downgrades to hold from buy. PT set to 6,480 pence, implies a 0.4% increase from last price. +Nike: KGI Securities raised its recommendation on Nike Inc. Class B to outperform from neutral. PT up 8.9% to $136. +Oneok: J.P. Morgan upgrades to overweight from neutral. PT up 11% to $75. +PDC Energy: Mizuho Securities initiated coverage with a recommendation of buy. PT set to $97. +PPG Industries: RBC Capital Markets downgrades to sector perform from outperform. PT inches up 0.1% to $129. +Schwab: CICC initiated coverage with a recommendation of outperform. PT set to $110. +Superdry: RBC moves from Outperform to Sector Perform. + diff --git a/news/AAPL/2023.01.10/Apple : celebrates a groundbreaking year in entertainment.txt b/news/AAPL/2023.01.10/Apple : celebrates a groundbreaking year in entertainment.txt new file mode 100644 index 0000000000000000000000000000000000000000..ba1f7abf7044eebd3e75144e6ebba5be8cee6522 --- /dev/null +++ b/news/AAPL/2023.01.10/Apple : celebrates a groundbreaking year in entertainment.txt @@ -0,0 +1,489 @@ + + + +UPDATEJanuary 10, 2023 + + + + Apple celebrates a groundbreaking year in entertainment + + + + Apple's Eddy Cue reflects on the year in services + + + + + 2022 was a groundbreaking year for entertainment. At some point over the past year, you probably discovered a new app, a new song, a new TV show or movie, or game. An experience that made you laugh, taught you something new, or helped you see the world in a new way - and moved you to share it with others. + + + It's remarkable how much great content is at our fingertips; that's a testament to the extraordinary work of creators worldwide. Never before have we enjoyed instant access to more cinematic original series, more engaging films, more global music, more creative apps, more essential journalism, and more immersive games and sports - no matter where you are, across all your favorite devices. + + + At Apple, we have the privilege of partnering with creators of all kinds, while building products and services that enable even more creativity. Our mission has always been to enrich people's lives and to leave the world better than we found it, and we know that takes more than technical skill. It requires leading with our values in everything we do. We believe that our products and services should be made for everyone. We believe that privacy is a fundamental human right, and that our highest obligation to our customers is security. We believe that a culture where everybody belongs can drive innovation, and that we must stand up for the change we want to see in the world. + + + When we started Apple TV+ a few years ago, we did so to tell stories that reflect our broader humanity. And whether it was CODA winning the Oscar for Best Picture or Ted Lasso winning back-to-back Emmys for Best Comedy, we have seen, in so many ways, the validation of this kind of storytelling and the strong desire for more of it. + + + And believe me: There's much more to come. Moments to anticipate, enjoy, and reflect upon. Moments that will have us jumping up with excitement or at the edge of our seats, or that make us want to get up and dance. Moments that can create lasting memories and bring us closer to one another. + + + - Eddy Cue, Apple's senior vice president of Services + + + + This year, more people than ever visited the App Store to discover and download the world's most creative and cutting-edge apps and games in a safe and trusted environment. Powering a robust global economy, the App Store connects developers of all sizes, from emerging solo creators to large international teams, with more than 650 million visitors across 175 regions each week. Developers selling digital goods and services on the App Store have earned more than $320 billion since the platform's 2008 launch, marking another year of record earnings. And this considerable number represents just a fraction of the overall commerce the app ecosystem facilitates. Throughout the year, new apps and games delivered fresh ways to connect. Innovative social app BeReal, which garnered global popularity for deepening authentic connections among family and friends, burst onto the scene, while Apex Legends brought its fast-paced hit battle royale game to iPhone, and Dot's Home, which spotlights systemic injustices through thoughtful interaction, used the power of code to impact culture - earning their developers 2022 App Store Awards. Reflecting how apps have provided users ongoing services for everything from productivity to entertainment to social connection and beyond, subscriptions on the App Store drive a significant portion of more than 900 million paid subscriptions across Apple services. Charts of the year's most downloaded apps and games are available on the App Store. + + + The App Store offers more than 650 million weekly visitors across 175 regions with the best apps and games from developers of all backgrounds and sizes. + + +Apple Arcade continues to be a standout game subscription service featuring award-winning and highly rated titles, from new releases to beloved favorites from the App Store. Subscribers have unlimited access to an evolving collection of over 200 games, with fun new content added weekly. The service also offers unique benefits players love - including no ads or in-app purchases - and support for Apple's high privacy standards. In 2022, the Apple Arcade catalog expanded with more than 50 exciting new titles, including Warped Kart Racers, Jetpack Joyride 2, Gibbon: Beyond the Trees, Wylde Flowers, and Cooking Mama: Cuisine! The service also released over 300 updates and expansions for many existing hits, including Sneaky Sasquatch, The Oregon Trail, Mini Motorways, LEGO Brawls, and Angry Birds Reloaded. + + + Play over 200 exceptional games on Apple Arcade interruption-free, without ads and in-app purchases. + + + 2022 was a big year for Apple Music, which now features over 100 million songs, representing nearly the entire history of recorded music. That's 100,000 times "1,000 songs in your pocket." And with Spatial Audio, Apple Music set a new quality bar for music streaming, giving fans a deeper and more immersive experience than ever before. Since launch, the number of monthly Spatial Audio listeners has more than tripled, with more than 80 percent of worldwide subscribers enjoying the experience, while monthly plays in Spatial Audio have grown by over 1,000 percent. Additionally, this year Apple Music partnered with Mercedes-Benz to bring Spatial Audio to drivers worldwide for the first time. Apple Music Live gives fans access to exclusive live performances by some of the biggest global stars in music, including Harry Styles, Lil Durk, Mary J. Blige, Billie Eilish, Luke Combs, Wizkid, and Alicia Keys. Following each broadcast, listeners can enjoy each show anytime on demand in immersive Spatial Audio. And just last month, Apple introduced Apple Music Sing, giving subscribers the ability to sing along to their favorite songs. With adjustable vocals and Apple Music's unparalleled real-time lyrics experience, users can easily perform duets, sing backup, or take the lead using an ever-expanding catalog of the world's most singable songs. + + + With adjustable vocals and real-time lyrics, Apple Music Sing gives fans more control and even more precise timing while they sing along to their favorite tunes. + + + 2022 was also a milestone year for Shazam, marking the service's 20th anniversary with 70 billion all-time Shazams. Last year, Shazam launched 17 new national charts and 58 new city charts, expanding coverage of the world's most discovered music to more parts of the world, as users discovered over 40 million different songs and more than 1 million artists received their very first Shazam. Last year, the songs on Shazam's Global Top 200 were more diverse than ever before, illustrating that a new generation of fans increasingly connected with older songs, with "Running Up That Hill" by Kate Bush (1985) being the oldest song to reach No. 1. Shazam also introduced a suite of new features, including a brand-new library sync using iCloud, enhanced Siri integration, and the ability to find concert details, making it easy for users to explore upcoming live shows while increasing exposure for artists. Last week, Shazam released its 2023 Predictions, a 50-song playlist featuring artists who are poised to have a breakthrough year. Shazam's predictions have uncovered talent from every corner of the globe earlier than any other service, with artists like Ayra Starr, who was one of Shazam's five featured predictions in 2022, making Shazam's Global Top 10 last fall. + + + + Throughout 2022, Apple TV+ premiered some of the most celebrated series of the year, including The Afterparty, Bad Sisters, Black Bird, Echo 3, For All Mankind, Loot, The Last Days of Ptolemy Grey, Pachinko, Slow Horses, Trying, and the 14-time Emmy Award-nominated Severance. Global phenomenon Ted Lasso continued its streak as the most Emmy Award-winning comedy for the second year in a row, with its second season landing the award for Outstanding Comedy Series, while Pachinko and Severance landed prestigious AFI Program of the Year honors. + + + Apple TV+ made history as the first streaming service honored with the Academy Award for Best Picture with CODA, and debuted broadly acclaimed films including Cha Cha Real Smooth, Luck, Selena Gomez: My Mind & Me, and Spirited, which has become the biggest film ever on the service. Causeway, Emancipation, and Sidney were recognized with African-American Film Critics Association honors, and the acclaimed documentary Louis Armstrong's Black & Blues landed the IDA Documentary Award for Best Music Documentary. + + + This year, Apple TV+ is set to premiere highly anticipated original series and films from the world's biggest storytellers, including new Apple Originals Dear Edward, Hello Tomorrow!, The Reluctant Traveler, and Shrinking; new seasons of award-winning and widely celebrated series such as The Afterparty, Schmigadoon!, Servant, Swagger, and Truth Be Told; and new films Argylle, Killers of the Flower Moon, Sharper, and more. + + + + Apple's CODA won three Academy Awards, including a historic Oscar for Best Picture. + + + In 2022, Apple made significant moves into live sports, first with the debut of "Friday Night Baseball" on Apple TV+, which exclusively showed two marquee Major League Baseball games every Friday night during the regular season. Apple also announced an unprecedented 10-year partnership with Major League Soccer. In a historic first for sports, fans around the world can stream every single MLS match through the MLS Season Pass service on the Apple TV app, without any local blackouts, starting February 1, 2023. MLS Season Pass will bring MLS to its biggest worldwide audience ever, as all matches will be available on billions of devices through the Apple TV app and on the web. + + + + +TKTK + + +TKTK + + + + + Fans around the world can stream every single MLS match through the MLS Season Pass service on the Apple TV app. + + + Fans can tune in to two games on Friday nights during the regular season, available only on Apple TV+. + + + + +previous + + +next + + + + + With iOS 16, Apple News introduced My Sports, allowing sports fans to easily find news and in-depth coverage of their favorite leagues, teams, and players, and watch highlights right in the News app. Fans can also sync their favorite teams across Apple News and the Apple TV app to follow updates, get tune-in reminders, and more. And with iOS 16.2, Live Activities for the Apple TV app lets users follow their favorite sports teams from select leagues with live scores right on their Lock Screen and the Dynamic Island on iPhone 14 Pro and iPhone 14 Pro Max.1 + + + My Sports allows sports fans to easily find news and in-depth coverage of their favorite leagues, teams, and players, and watch highlights right in the News app. + + + In 2022, AppleFitness+ became available to iPhone users to subscribe to and enjoy in 21 countries, even if they don't have an Apple Watch, and grew the library to 3,500 workouts and meditations. Fitness+ also introduced Time to Run; Collections; an Artist Spotlight series with workouts featuring music by Taylor Swift; the workout program Yoga for Every Runner, featuring and designed with ultramarathoner Scott Jurek; and much more. To kick off 2023, Fitness+ announced new ways for users to improve their fitness and overall well-being, including Kickboxing, a new total-body cardio workout type; a new Artist Spotlight series with workouts featuring music by Beyoncé; a brand-new meditation theme, Sleep, along with a new program to help users get started, Introduction to Meditations for Sleep; the fifth season of Time to Walk, beginning with Jamie Lee Curtis; two new Collections; and three new Fitness+ trainers. + + + In January, Apple Fitness+ launches a slate of new offerings designed to help users stay active and mindful in the new year, including a new Kickboxing workout type. + + + From breaking news updates on the most important stories of the day to fascinating in-depth feature reporting and beautifully narrated audio stories, Apple News continued to deliver quality news to millions of people, and remains the top news app in the US, the UK, Australia, and Canada. In November, Apple News introducedAfter the Whistle, a limited-series podcast hosted by Ted Lasso's Brendan Hunt and NBC Sports' Rebecca Lowe that offered listeners entertaining and informative takes throughout the World Cup tournament. + + + + +The Apple News Audio show "After the Whistle" is shown on iPhone 14 Pro. + + +TIME on Apple News+ is shown on iPhone 14 Pro. + + +Architectural Digest on Apple News+ is shown on iPhone 14 Pro. + + +Car and Driver on Apple News+ is shown on iPhone 14 Pro. + + + + + Apple News introduced After the Whistle, a limited-series podcast following the 2022 World Cup. + + + Apple News+ subscribers continued to enjoy full access to journalism from hundreds of the world's top outlets, including TIME, Architectural Digest, Car and Driver, and more. + + + Apple News+ subscribers continued to enjoy full access to journalism from hundreds of the world's top outlets, including TIME, Architectural Digest, Car and Driver, and more. + + + Apple News+ subscribers continued to enjoy full access to journalism from hundreds of the world's top outlets, including TIME, Architectural Digest, Car and Driver, and more. + + + + +previous + + +next + + + + + +Apple News+ subscribers continued to enjoy full access to journalism from hundreds of the world's top outlets, including The Atlantic, National Geographic, People, TIME, The Wall Street Journal, and Vogue, as well as dozens of local and regional outlets, including The Charlotte Observer, The Houston Chronicle, The Miami Herald, and more, all in the News app. News+ subscribers have also tuned in to millions of hours of professionally narrated audio stories, with some of the most-listened-to stories coming from New York Magazine, Sports Illustrated, Texas Monthly, The Los Angeles Times, and The New Yorker. + + +Apple One is the easiest and best way to get Apple's subscription services in one simple plan at the best value, including Apple Music, Apple TV+, Apple Arcade, Apple Fitness+, Apple News+, and iCloud+. + + + +Apple Podcasts continued to help listeners discover great new podcasts, enjoy their favorites, and support the creators who make them possible while receiving new exclusives, early access, ad-free listening, and more premium benefits through Apple Podcasts Subscriptions. Over the coming weeks, listeners will be able to enjoy new premium audio experiences from the Brains On! universe for kids, the economists behind Freakonomics Radio, The Pitch with Josh Muccio, and NPR's daily news program, Up First, plus new series from top creators including iHeartMedia, SmartLess Media, Sony Music Entertainment, and Wondery. + + + The first two episodes of Operation: Tradebom, the latest Apple Original podcast from Apple TV+ hosted by award-winning director, producer, and writer Marc Smerling, are available for free now. + + +Apple Books is where users read, listen, and discover books and audiobooks across a vast catalog of over 10 million titles. From the unputdownable fiction of Colleen Hoover to the candid memoirs of Jennette McCurdy and Matthew Perry, 2022 was filled with high-profile bestsellers for readers and listeners, and the launch of the Apple Books "Read More…" editorial collection spotlighted works of authors from traditionally underrepresented groups throughout the year. Last year also saw improvements to the reading experience that make Apple Books an even better platform for users to uncover the entertainment, connection, and reflection that books and audiobooks provide. Readers can look back at The Year in Books, and browse the most anticipated books for 2023. + + + Apple Books is where users read, listen, and discover books and audiobooks across a vast catalog of over 10 million titles. + + +Apple Maps has been rebuilt from the ground up with more accurate navigation, richer detail, and amazing features like Look Around and Natural Language Guidance. In 2022, the new map rolled out in 13 additional countries and territories around the world, including France, Germany, Israel, New Zealand, and Singapore. The three-dimensional city experience is also now available in Atlanta, Chicago, Miami, Montreal, Las Vegas, Seattle, Toronto, and Vancouver, allowing Maps users to explore even more cities in vivid detail. With iOS 16, Maps introduced multistop routing, as well as enhanced public transit updates, making it easy for riders to see how much their trip will cost, add transit cards to Wallet, see low balances, and replenish transit cards, all without leaving Maps. Users across the US can also now take advantage of detailed, turn-by-turn cycling directions for bike lanes and other bike-friendly routes. + + + Apple Maps brought the visually stunning three-dimensional city experience to users in Las Vegas and even more cities across the US and Canada. + + + + The 2022 holiday shopping season saw a record-breaking number of purchases made using Apple Pay globally. Last year, Apple enhanced users' shopping experiences with Apple Pay Order Tracking, which helps users track the shipment of purchases made with Apple Pay with participating merchants. Apple Pay is now available to millions of merchants in nearly 70 countries and regions, and works with more than 10,000 bank and network partners worldwide. + + + For businesses big and small, Apple introducedTap to Pay on iPhone, empowering merchants across the US to seamlessly and securely accept Apple Pay, contactless credit and debit cards, and other digital wallets with only an iPhone - no additional hardware needed. Payment platforms such as Adyen, Square, and Stripe have already enabled Tap to Pay on iPhone for millions of app developers and merchants, with more payment platforms to come. + + + + Tap to Pay on iPhone empowers US merchants to accept Apple Pay and other contactless payments simply by using an iPhone and a partner-enabled iOS app. + + + For the second consecutive year, Apple Card and Goldman Sachstopped the charts in the Midsize Credit Card Issuer segment of the annual J.D. Power U.S. Credit Card Satisfaction Study.2 Apple Card's popular Daily Cash rewards program expanded with the addition of Ace Hardware as a new 3 percent Bonus Daily Cash Merchant when users use Apple Card with Apple Pay,3 as well as the introduction of a new Daily Cash hub within users' Apple Card account to help users easily view and track the lifetime Daily Cash they've received using Apple Card. + + + The new Daily Cash hub is designed to help Apple Card users learn how to earn Daily Cash, view the lifetime Daily Cash they've received, track progress toward offers, and discover the latest 3 percent Bonus Daily Cash Merchants. + + + + Apple expanded its Wallet offerings with the launch of driver's licenses and state IDs in Wallet, which are currently available in Arizona, Colorado, and Maryland,4 with at least nine more states planned to come. Users can also now share eligible keys in Wallet through their favorite messaging apps such as Messages, Mail, and more. In 2022, the use of NFC tickets in Wallet across the US and Canada nearly tripled year over year, with users tapping their iPhone or Apple Watch to enter events like Major League Soccer games in the US, and more great entertainment and professional sporting events around the world. + + + Apple made it even easier to send and receive Apple Cash by letting users do it right in Wallet,5 in addition to Messages. Apple Cash users can also see pending requests in Wallet to remind them to send an allowance, pay a roommate, or track requests they've sent. + + +iCloud keeps a user's most important information - like photos, files, and apps - secure, up to date, and available across all of their Apple devices. It powers important features such as iCloud Photos, which lets users easily browse, search, and share photos and videos. iCloud Shared Photo Library, introduced in iOS 16, iPadOS 16, and macOS Ventura, enables families to share photos seamlessly using a separate iCloud library that up to six users can collaborate on, contribute to, and enjoy. In addition to these and other helpful features, iCloud leads the industry in using privacy-preserving security technologies, including two-factor authentication, which is utilized by over 95 percent of iCloud users, and Advanced Data Protection for iCloud, which uses end-to-end encryption to keep users' data secure and under their control. + + + With iCloud+, customers can get additional storage for all their information, plus premium features including iCloud Private Relay, which protects a user's privacy on the web; Hide My Email, which offers an easy way to create a unique, random email addresses that forward to a personal inbox; custom email domains for iCloud Mail; and expanded support for HomeKit Secure Video recording. + + + + With iCloud Shared Photo Library, families can use a separate iCloud library to share photos and videos. Up to six participants can add to the Shared Library, make edits, leave comments, or favorite a photo or video and it will be seen by everyone in real time. + + + Share article + + + + + + + Text of this article + + + + + January 10, 2023 + + + UPDATE + + + Apple celebrates a groundbreaking year in entertainment + + + Apple's Eddy Cue reflects on the year in services + + + 2022 was a groundbreaking year for entertainment. At some point over the past year, you probably discovered a new app, a new song, a new TV show or movie, or game. An experience that made you laugh, taught you something new, or helped you see the world in a new way - and moved you to share it with others. + + + It's remarkable how much great content is at our fingertips; that's a testament to the extraordinary work of creators worldwide. Never before have we enjoyed instant access to more cinematic original series, more engaging films, more global music, more creative apps, more essential journalism, and more immersive games and sports - no matter where you are, across all your favorite devices. + + + At Apple, we have the privilege of partnering with creators of all kinds, while building products and services that enable even more creativity. Our mission has always been to enrich people's lives and to leave the world better than we found it, and we know that takes more than technical skill. It requires leading with our values in everything we do. We believe that our products and services should be made for everyone. We believe that privacy is a fundamental human right, and that our highest obligation to our customers is security. We believe that a culture where everybody belongs can drive innovation, and that we must stand up for the change we want to see in the world. + + + When we started Apple TV+ a few years ago, we did so to tell stories that reflect our broader humanity. And whether it was CODA winning the Oscar for Best Picture or Ted Lasso winning back-to-back Emmys for Best Comedy, we have seen, in so many ways, the validation of this kind of storytelling and the strong desire for more of it. + + + And believe me: There's much more to come. Moments to anticipate, enjoy, and reflect upon. Moments that will have us jumping up with excitement or at the edge of our seats, or that make us want to get up and dance. Moments that can create lasting memories and bring us closer to one another. + + + - Eddy Cue, Apple's senior vice president of Services + + + This year, more people than ever visited the App Store to discover and download the world's most creative and cutting-edge apps and games in a safe and trusted environment. Powering a robust global economy, the App Store connects developers of all sizes, from emerging solo creators to large international teams, with more than 650 million visitors across 175 regions each week. Developers selling digital goods and services on the App Store have earned more than $320 billion since the platform's 2008 launch, marking another year of record earnings. And this considerable number represents just a fraction of the overall commerce the app ecosystem facilitates. Throughout the year, new apps and games delivered fresh ways to connect. Innovative social app BeReal, which garnered global popularity for deepening authentic connections among family and friends, burst onto the scene, while Apex Legends brought its fast-paced hit battle royale game to iPhone, and Dot's Home, which spotlights systemic injustices through thoughtful interaction, used the power of code to impact culture - earning their developers 2022 App Store Awards. Reflecting how apps have provided users ongoing services for everything from productivity to entertainment to social connection and beyond, subscriptions on the App Store drive a significant portion of more than 900 million paid subscriptions across Apple services. Charts of the year's most downloaded apps and games are available on the App Store. + + +Apple Arcade continues to be a standout game subscription service featuring award-winning and highly rated titles, from new releases to beloved favorites from the App Store. Subscribers have unlimited access to an evolving collection of over 200 games, with fun new content added weekly. The service also offers unique benefits players love - including no ads or in-app purchases - and support for Apple's high privacy standards. In 2022, the Apple Arcade catalog expanded with more than 50 exciting new titles, including Warped Kart Racers, Jetpack Joyride 2, Gibbon: Beyond the Trees, Wylde Flowers, and Cooking Mama: Cuisine! The service also released over 300 updates and expansions for many existing hits, including Sneaky Sasquatch, The Oregon Trail, Mini Motorways, LEGO Brawls, and Angry Birds Reloaded. + + + 2022 was a big year for Apple Music, which now features over 100 million songs, representing nearly the entire history of recorded music. That's 100,000 times "1,000 songs in your pocket." And with Spatial Audio, Apple Music set a new quality bar for music streaming, giving fans a deeper and more immersive experience than ever before. Since launch, the number of monthly Spatial Audio listeners has more than tripled, with more than 80 percent of worldwide subscribers enjoying the experience, while monthly plays in Spatial Audio have grown by over 1,000 percent. Additionally, this year Apple Music partnered with Mercedes-Benz to bring Spatial Audio to drivers worldwide for the first time. Apple Music Live gives fans access to exclusive live performances by some of the biggest global stars in music, including Harry Styles, Lil Durk, Mary J. Blige, Billie Eilish, Luke Combs, Wizkid, and Alicia Keys. Following each broadcast, listeners can enjoy each show anytime on demand in immersive Spatial Audio. And just last month, Apple introduced Apple Music Sing, giving subscribers the ability to sing along to their favorite songs. With adjustable vocals and Apple Music's unparalleled real-time lyrics experience, users can easily perform duets, sing backup, or take the lead using an ever-expanding catalog of the world's most singable songs. + + + 2022 was also a milestone year for Shazam, marking the service's 20th anniversary with 70 billion all-time Shazams. Last year, Shazam launched 17 new national charts and 58 new city charts, expanding coverage of the world's most discovered music to more parts of the world, as users discovered over 40 million different songs and more than 1 million artists received their very first Shazam. Last year, the songs on Shazam's Global Top 200 were more diverse than ever before, illustrating that a new generation of fans increasingly connected with older songs, with "Running Up That Hill" by Kate Bush (1985) being the oldest song to reach No. 1. Shazam also introduced a suite of new features, including a brand-new library sync using iCloud, enhanced Siri integration, and the ability to find concert details, making it easy for users to explore upcoming live shows while increasing exposure for artists. Last week, Shazam released its 2023 Predictions, a 50-song playlist featuring artists who are poised to have a breakthrough year. Shazam's predictions have uncovered talent from every corner of the globe earlier than any other service, with artists like Ayra Starr, who was one of Shazam's five featured predictions in 2022, making Shazam's Global Top 10 last fall. + + + Throughout 2022, Apple TV+ premiered some of the most celebrated series of the year, including The Afterparty, Bad Sisters, Black Bird, Echo 3, For All Mankind, Loot, The Last Days of Ptolemy Grey, Pachinko, Slow Horses, Trying, and the 14-time Emmy Award-nominated Severance. Global phenomenon Ted Lasso continued its streak as the most Emmy Award-winning comedy for the second year in a row, with its second season landing the award for Outstanding Comedy Series, while Pachinko and Severance landed prestigious AFI Program of the Year honors. + + + Apple TV+ made history as the first streaming service honored with the Academy Award for Best Picture with CODA, and debuted broadly acclaimed films including Cha Cha Real Smooth, Luck, Selena Gomez: My Mind & Me, and Spirited, which has become the biggest film ever on the service. Causeway, Emancipation, and Sidney were recognized with African-American Film Critics Association honors, and the acclaimed documentary Louis Armstrong's Black & Blues landed the IDA Documentary Award for Best Music Documentary. + + + This year, Apple TV+ is set to premiere highly anticipated original series and films from the world's biggest storytellers, including new Apple Originals Dear Edward, Hello Tomorrow!, The Reluctant Traveler, and Shrinking; new seasons of award-winning and widely celebrated series such as The Afterparty, Schmigadoon!, Servant, Swagger, and Truth Be Told; and new films Argylle, Killers of the Flower Moon, Sharper, and more. + + + In 2022, Apple made significant moves into live sports, first with the debut of "Friday Night Baseball" on Apple TV+, which exclusively showed two marquee Major League Baseball games every Friday night during the regular season. Apple also announced an unprecedented 10-year partnership with Major League Soccer. In a historic first for sports, fans around the world can stream every single MLS match through the MLS Season Pass service on the Apple TV app, without any local blackouts, starting February 1, 2023. MLS Season Pass will bring MLS to its biggest worldwide audience ever, as all matches will be available on billions of devices through the Apple TV app and on the web. + + + With iOS 16, Apple News introduced My Sports, allowing sports fans to easily find news and in-depth coverage of their favorite leagues, teams, and players, and watch highlights right in the News app. Fans can also sync their favorite teams across Apple News and the Apple TV app to follow updates, get tune-in reminders, and more. And with iOS 16.2, Live Activities for the Apple TV app lets users follow their favorite sports teams from select leagues with live scores right on their Lock Screen and the Dynamic Island on iPhone 14 Pro and iPhone 14 Pro Max.1 + + + In 2022, AppleFitness+ became available to iPhone users to subscribe to and enjoy in 21 countries, even if they don't have an Apple Watch, and grew the library to 3,500 workouts and meditations. Fitness+ also introduced Time to Run; Collections; an Artist Spotlight series with workouts featuring music by Taylor Swift; the workout program Yoga for Every Runner, featuring and designed with ultramarathoner Scott Jurek; and much more. To kick off 2023, Fitness+ announced new ways for users to improve their fitness and overall well-being, including Kickboxing, a new total-body cardio workout type; a new Artist Spotlight series with workouts featuring music by Beyoncé; a brand-new meditation theme, Sleep, along with a new program to help users get started, Introduction to Meditations for Sleep; the fifth season of Time to Walk, beginning with Jamie Lee Curtis; two new Collections; and three new Fitness+ trainers. + + + From breaking news updates on the most important stories of the day to fascinating in-depth feature reporting and beautifully narrated audio stories, Apple News continued to deliver quality news to millions of people, and remains the top news app in the US, the UK, Australia, and Canada. In November, Apple News introducedAfter the Whistle, a limited-series podcast hosted by Ted Lasso's Brendan Hunt and NBC Sports' Rebecca Lowe that offered listeners entertaining and informative takes throughout the World Cup tournament. + + +Apple News+ subscribers continued to enjoy full access to journalism from hundreds of the world's top outlets, including The Atlantic, National Geographic, People, TIME, The Wall Street Journal, and Vogue, as well as dozens of local and regional outlets, including The Charlotte Observer, The Houston Chronicle, The Miami Herald, and more, all in the News app. News+ subscribers have also tuned in to millions of hours of professionally narrated audio stories, with some of the most-listened-to stories coming from New York Magazine, Sports Illustrated, Texas Monthly, The Los Angeles Times, and The New Yorker. + + +Apple One is the easiest and best way to get Apple's subscription services in one simple plan at the best value, including Apple Music, Apple TV+, Apple Arcade, Apple Fitness+, Apple News+, and iCloud+. + + +Apple Podcasts continued to help listeners discover great new podcasts, enjoy their favorites, and support the creators who make them possible while receiving new exclusives, early access, ad-free listening, and more premium benefits through Apple Podcasts Subscriptions. Over the coming weeks, listeners will be able to enjoy new premium audio experiences from the Brains On! universe for kids, the economists behind Freakonomics Radio, The Pitch with Josh Muccio, and NPR's daily news program, Up First, plus new series from top creators including iHeartMedia, SmartLess Media, Sony Music Entertainment, and Wondery. + + +Apple Books is where users read, listen, and discover books and audiobooks across a vast catalog of over 10 million titles. From the unputdownable fiction of Colleen Hoover to the candid memoirs of Jennette McCurdy and Matthew Perry, 2022 was filled with high-profile bestsellers for readers and listeners, and the launch of the Apple Books "Read More…" editorial collection spotlighted works of authors from traditionally underrepresented groups throughout the year. Last year also saw improvements to the reading experience that make Apple Books an even better platform for users to uncover the entertainment, connection, and reflection that books and audiobooks provide. Readers can look back at The Year in Books, and browse the most anticipated books for 2023. + + +Apple Maps has been rebuilt from the ground up with more accurate navigation, richer detail, and amazing features like Look Around and Natural Language Guidance. In 2022, the new map rolled out in 13 additional countries and territories around the world, including France, Germany, Israel, New Zealand, and Singapore. The three-dimensional city experience is also now available in Atlanta, Chicago, Miami, Montreal, Las Vegas, Seattle, Toronto, and Vancouver, allowing Maps users to explore even more cities in vivid detail. With iOS 16, Maps introduced multistop routing, as well as enhanced public transit updates, making it easy for riders to see how much their trip will cost, add transit cards to Wallet, see low balances, and replenish transit cards, all without leaving Maps. Users across the US can also now take advantage of detailed, turn-by-turn cycling directions for bike lanes and other bike-friendly routes. + + + The 2022 holiday shopping season saw a record-breaking number of purchases made using Apple Pay globally. Last year, Apple enhanced users' shopping experiences with Apple Pay Order Tracking, which helps users track the shipment of purchases made with Apple Pay with participating merchants. Apple Pay is now available to millions of merchants in nearly 70 countries and regions, and works with more than 10,000 bank and network partners worldwide. + + + For businesses big and small, Apple introducedTap to Pay on iPhone, empowering merchants across the US to seamlessly and securely accept Apple Pay, contactless credit and debit cards, and other digital wallets with only an iPhone - no additional hardware needed. Payment platforms such as Adyen, Square, and Stripe have already enabled Tap to Pay on iPhone for millions of app developers and merchants, with more payment platforms to come. + + + For the second consecutive year, Apple Card and Goldman Sachstopped the charts in the Midsize Credit Card Issuer segment of the annual J.D. Power U.S. Credit Card Satisfaction Study.2 Apple Card's popular Daily Cash rewards program expanded with the addition of Ace Hardware as a new 3 percent Bonus Daily Cash Merchant when users use Apple Card with Apple Pay,3 as well as the introduction of a new Daily Cash hub within users' Apple Card account to help users easily view and track the lifetime Daily Cash they've received using Apple Card. + + + Apple expanded its Wallet offerings with the launch of driver's licenses and state IDs in Wallet, which are currently available in Arizona, Colorado, and Maryland,4 with at least nine more states planned to come. Users can also now share eligible keys in Wallet through their favorite messaging apps such as Messages, Mail, and more. In 2022, the use of NFC tickets in Wallet across the US and Canada nearly tripled year over year, with users tapping their iPhone or Apple Watch to enter events like Major League Soccer games in the US, and more great entertainment and professional sporting events around the world. + + + Apple made it even easier to send and receive Apple Cash by letting users do it right in Wallet,5 in addition to Messages. Apple Cash users can also see pending requests in Wallet to remind them to send an allowance, pay a roommate, or track requests they've sent. + + +iCloud keeps a user's most important information - like photos, files, and apps - secure, up to date, and available across all of their Apple devices. It powers important features such as iCloud Photos, which lets users easily browse, search, and share photos and videos. iCloud Shared Photo Library, introduced in iOS 16, iPadOS 16, and macOS Ventura, enables families to share photos seamlessly using a separate iCloud library that up to six users can collaborate on, contribute to, and enjoy. In addition to these and other helpful features, iCloud leads the industry in using privacy-preserving security technologies, including two-factor authentication, which is utilized by over 95 percent of iCloud users, and Advanced Data Protection for iCloud, which uses end-to-end encryption to keep users' data secure and under their control. + + + With iCloud+, customers can get additional storage for all their information, plus premium features including iCloud Private Relay, which protects a user's privacy on the web; Hide My Email, which offers an easy way to create a unique, random email addresses that forward to a personal inbox; custom email domains for iCloud Mail; and expanded support for HomeKit Secure Video recording. + + + + These features are available in the US and Canada. + + + Apple Card and issuer Goldman Sachs received the highest score in the Midsize Credit Card Issuer segment in the J.D. Power 2021-2022 U.S. Credit Card Satisfaction Studies of customers' satisfaction with credit card issuers. Visit jdpower.com/awards for more details. + + + Ace Hardware: 3 percent Daily Cash is available in the United States when using Apple Card with Apple Pay online, in the mobile app, and at participating stores listed at acehardware.com/applecard. Excludes online and mobile app gift card purchases and purchases from third-party merchants using independent point-of-sale systems within a participating Ace Hardware store. Please check with local participating Ace Hardware stores whether purchases are eligible for 3 percent Daily Cash. + + + ID cards in Wallet are currently available for use in select TSA checkpoints. Travelers should refer to checkpoint signage to confirm availability. ID cards in Wallet requires an eligible device and OS. + + + Apple Cash services are provided by Green Dot Bank, Member FDIC. Learn more about the Terms and Conditions. Apple Cash services are only available in the U.S. on eligible devices. To send and receive money with an Apple Cash account, persons must be 18 and a U.S. resident. If person is under 18, a family organizer can set up Apple Cash as part of their Apple Cash Family account. Security checks may require more time to make funds available. Apple Cash Family accounts can send or receive up to $2,000 per transaction or within a seven-day period. Sending money from Wallet requires iOS 15.5 or later. + + + To access and use all Apple Card features and products available only to Apple Card users, Apple Card to Wallet must be added on an iPhone or iPad that supports and has the latest version of iOS or iPadOS. Apple Card is subject to credit approval, available only for qualifying applicants in the United States, and issued by Goldman Sachs Bank USA, Salt Lake City Branch. + + Press Contacts + + + Zach Kahn + + + Apple + + + zkahn@apple.com + + + (669) 276-2811 + + + Apple Media Helpline + + + media.help@apple.com + + + (408) 974-2042 + + +Copy text + + + + + + + Images in this article + + +Download all images + + + + + + + + + These features are available in the US and Canada. + + + Apple Card and issuer Goldman Sachs received the highest score in the Midsize Credit Card Issuer segment in the J.D. Power 2021-2022 U.S. Credit Card Satisfaction Studies of customers' satisfaction with credit card issuers. Visit jdpower.com/awards for more details. + + + Ace Hardware: 3 percent Daily Cash is available in the United States when using Apple Card with Apple Pay online, in the mobile app, and at participating stores listed at acehardware.com/applecard. Excludes online and mobile app gift card purchases and purchases from third-party merchants using independent point-of-sale systems within a participating Ace Hardware store. Please check with local participating Ace Hardware stores whether purchases are eligible for 3 percent Daily Cash. + + + ID cards in Wallet are currently available for use in select TSA checkpoints. Travelers should refer to checkpoint signage to confirm availability. ID cards in Wallet requires an eligible device and OS. + + + Apple Cash services are provided by Green Dot Bank, Member FDIC. Learn more about the Terms and Conditions. Apple Cash services are only available in the U.S. on eligible devices. To send and receive money with an Apple Cash account, persons must be 18 and a U.S. resident. If person is under 18, a family organizer can set up Apple Cash as part of their Apple Cash Family account. Security checks may require more time to make funds available. Apple Cash Family accounts can send or receive up to $2,000 per transaction or within a seven-day period. Sending money from Wallet requires iOS 15.5 or later. + + + To access and use all Apple Card features and products available only to Apple Card users, Apple Card to Wallet must be added on an iPhone or iPad that supports and has the latest version of iOS or iPadOS. Apple Card is subject to credit approval, available only for qualifying applicants in the United States, and issued by Goldman Sachs Bank USA, Salt Lake City Branch. + + + + Press Contacts + + + + + Zach Kahn + + + Apple + + + zkahn@apple.com + + + (669) 276-2811 + + + + + Apple Media Helpline + + + media.help@apple.com + + + (408) 974-2042 + + + + + + + Latest News + + + +UPDATE + + +Apple Fitness+ unveils new offerings for the new year + + +January 5, 2023 + + + + +UPDATE + + +Major League Soccer announces 2023 season schedule + + +December 20, 2022 + + + + +UPDATE + + +Apple launches Freeform: a powerful new app designed for creative collaboration + + +December 13, 2022 + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Apple Inc. published this content on 10 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2023 15:02:09 UTC. + + diff --git a/news/AAPL/2023.01.10/Apple To Start Using Its Own Screens In 2024 - Bloomberg News.txt b/news/AAPL/2023.01.10/Apple To Start Using Its Own Screens In 2024 - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..c3e58bde9ce41c2a77f4f86caabd37158cc8e6f4 --- /dev/null +++ b/news/AAPL/2023.01.10/Apple To Start Using Its Own Screens In 2024 - Bloomberg News.txt @@ -0,0 +1,4 @@ +Jan 10 (Reuters) -* APPLE TO START USING ITS OWN SCREENS IN 2024 - BLOOMBERG +NEWS +Source text [https://bit.ly/3QuoCzE] +Further company coverage: \ No newline at end of file diff --git "a/news/AAPL/2023.01.10/Apple supplier boe plans to invest up to $400 mln in n\342\200\246.txt" "b/news/AAPL/2023.01.10/Apple supplier boe plans to invest up to $400 mln in n\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..beddc18c8a0d062b315cd52d138fbb900c54410b --- /dev/null +++ "b/news/AAPL/2023.01.10/Apple supplier boe plans to invest up to $400 mln in n\342\200\246.txt" @@ -0,0 +1 @@ +EXCLUSIVE-APPLE SUPPLIER BOE PLANS TO INVEST UP TO $400 MLN IN NORTH VIETNAM IN DISPLAY, REMOTE CONTROL SYSTEM FACTORIES -SOURCE \ No newline at end of file diff --git a/news/AAPL/2023.01.10/Apple to begin making in-house screens from 2024 - Bloomberg News.txt b/news/AAPL/2023.01.10/Apple to begin making in-house screens from 2024 - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..482673e458640813d81f8b58c39155094fda2cac --- /dev/null +++ b/news/AAPL/2023.01.10/Apple to begin making in-house screens from 2024 - Bloomberg News.txt @@ -0,0 +1 @@ + (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Sherry Jacob-Phillips) \ No newline at end of file diff --git a/news/AAPL/2023.01.10/Apple to start using in-house screens from 2024 - Bloomberg News.txt b/news/AAPL/2023.01.10/Apple to start using in-house screens from 2024 - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..de7edcf3506299bfb382c9095350e6db95984b00 --- /dev/null +++ b/news/AAPL/2023.01.10/Apple to start using in-house screens from 2024 - Bloomberg News.txt @@ -0,0 +1,19 @@ +Jan 10 (Reuters) - Apple Inc is planning to +start using its own custom displays in its mobile devices from +2024 onwards in an attempt to bring more components in-house, +Bloomberg News reported on Tuesday, citing people with knowledge +of the matter.The company intends to begin by swapping out the display in +the highest-end Apple Watches by the end of next year. Apple +plans to eventually bring these displays to other devices as +well, including the iPhone, according to the report.The Cupertino, California-based tech giant is aiming to +reduce its reliance on other partners such as Samsung +Electronics and LG Corp.Apple did not immediately respond to a Reuters' request for +comment, while Samsung Display, a unit of Samsung Electronics +, and LG Display declined to comment.The report added that the screens would upgrade the current +OLED standard to a technology called microLED.Bloomberg News had reported on Monday that Apple plans to +replace Broadcom Inc chips from its devices with an +in-house design in 2025.The iPhone maker has been working to limit its reliance +on other chipmakers, having moved to its own line of chips for +recent models of its Mac computers, replacing those from Intel +Corp.(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Sherry +Jacob-Phillips) \ No newline at end of file diff --git "a/news/AAPL/2023.01.10/Apple to start using its own screens in 2024 - bloomberg news\342\200\246.txt" "b/news/AAPL/2023.01.10/Apple to start using its own screens in 2024 - bloomberg news\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..1c83b8af84e28209536ac9d732caa61cdb5f87a3 --- /dev/null +++ "b/news/AAPL/2023.01.10/Apple to start using its own screens in 2024 - bloomberg news\342\200\246.txt" @@ -0,0 +1 @@ +APPLE TO START USING ITS OWN SCREENS IN 2024 - BLOOMBERG NEWS \ No newline at end of file diff --git "a/news/AAPL/2023.01.10/Boe's new vietnam display factory would produce oled s\342\200\246.txt" "b/news/AAPL/2023.01.10/Boe's new vietnam display factory would produce oled s\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..533744daab87f0e00877a210d156eb002ddcc34f --- /dev/null +++ "b/news/AAPL/2023.01.10/Boe's new vietnam display factory would produce oled s\342\200\246.txt" @@ -0,0 +1 @@ +EXCLUSIVE-BOE'S NEW VIETNAM DISPLAY FACTORY WOULD PRODUCE OLED SCREENS, BE CLOSE TO APPLE SUPPLIERS, SAMSUNG PLANTS -SOURCE \ No newline at end of file diff --git a/news/AAPL/2023.01.10/Exclusive-Apple supplier BOE plans new factories in Vietnam -sources.txt b/news/AAPL/2023.01.10/Exclusive-Apple supplier BOE plans new factories in Vietnam -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..e31caf358f35f55aabe4f94e4fb53ff0435cb51e --- /dev/null +++ b/news/AAPL/2023.01.10/Exclusive-Apple supplier BOE plans new factories in Vietnam -sources.txt @@ -0,0 +1 @@ +The investment may total up to $400 million, one of them said.The plan underscores efforts by technology firms led by U.S. iPhone maker Apple and Taiwanese device assembler Foxconn to lower supply chain exposure to China amid trade and geopolitical tension between Beijing and Washington and production disruption caused by China's COVID-19 containment measures.BOE is in talks to rent dozens of hectares of land in north Vietnam to add to its relatively small plant in the south that supplies mostly television screens to South Korea's Samsung and LG Electronics Inc, the people said, declining to be identified as negotiations were confidential.BOE declined to comment.Northern Vietnam has in recent years attracted significant investment from electronics giants, becoming a major hub for the production of smartphones, computers and cameras, including flagship goods from Apple and Samsung.Hon Hai Precision Industry Co Ltd (Foxconn) and China's Luxshare Precision Industry also make or plan to assemble a number of Apple products in the area such as laptop and tablet computers.BOE plans to rent up to 100 hectares and use 20% for a plant making remote control systems at a cost of $150 million, one of the people said.The rest would be for displays, with BOE spending $250 million to build a plant on 50 hectares while suppliers would use the remaining 30 hectares, all by 2025, the person said.BOE plans to make the more sophisticated organic light-emitting diodes (OLED) screens at the site rather than liquid-crystal displays (LCDs), the person said.Apple, which included BOE in its 2021 list of manufacturing partners, uses OLED screens for its latest iPhone smartphones.China's biggest display maker by output is set to become the largest supplier of displays for new iPhones by 2024, analyst Kuo Ming-chi at TF International Securities forecast last week.The U.S. tech giant, however, plans to start making mobile screens in-house by next year, Bloomberg reported on Wednesday.Apple declined to comment.BOE's Vietnam plan is not specifically aimed at supplying Apple, the person said.Customer Samsung, the world's largest smartphone maker, produces half of its handsets in Vietnam while LG has a large operation in the country and is planning new investment. (Reporting by Francesco Guarascio; Additional reporting by Josh Horwitz and Phuong Nguyen; Editing by Christopher Cushing)By Francesco Guarascio \ No newline at end of file diff --git a/news/AAPL/2023.01.10/FOMO drives markets.txt b/news/AAPL/2023.01.10/FOMO drives markets.txt new file mode 100644 index 0000000000000000000000000000000000000000..ff693fc5cb947d97eced06053bd25a2f47bb0e6b --- /dev/null +++ b/news/AAPL/2023.01.10/FOMO drives markets.txt @@ -0,0 +1,51 @@ + +Here we are once again. You know that moment you've experienced dozens of times when you see risky stocks go into the stratosphere while your nice quality stocks stay stuck on the ground, when they're not digging a hole. It’s due to FOMO, the fear of missing out. It was a powerful driver of stock performance when money was free and kept alive companies that had no business model other than the ability to raise money ad nauseam. But it has not disappeared and strengthens rebound phases like the one that is currently taking shape. It is the force that is boosting Tesla and Just Eat, while knocking out Eli Lilly. + +In short, the most daring investors are taking more daring bets, while the most cautious are watching the train go by, thinking that it will derail. It has been the same story for decades when there is a debate about a market inflection point. In this case, a majority of investors believe that there is a cluster of converging signals that central banks will soon hit the ceiling of their monetary tightening cycle. In the US, the implied peak in policy rates is, as I write, 4.93% next June, while the current Fed Funds range is 4.25% to 4.50%. In other words, there are not many more rate hikes to get there (remember that a year ago, the range was 0 to 0.25%). Moreover, the CME's FedWatch tool shows an 80% probability in favor of a 0.25% rate hike, the bare minimum, at the Fed's February 1 meeting. A month ago, the odds were still 50/50 between a 25 point rate hike and a 50 point rate hike. +While the various players are in rough agreement on the rate hike, there is much more divergence on two other unknowns. First, how long rates will remain at the assumed ceiling, and second, how much damage this will do to the economy. This is where the main questions currently lie, except for the most extreme camps. The one that thinks that the Fed is fooling itself with this punitive policy when inflation would have evaporated by itself. And at the other end of the spectrum, the one that believes that stagflation is inevitable because of past policy mistakes. +In this context, the Fed's rhetoric no longer seems to be the gospel. At least not as much as it did for most of 2022. The Fed may be making more and more calls for caution on inflation, but it's still rowing a bit. Yesterday, Raphael Bostic and Mary Daly, two of the central bank's regional governors, each spoke of a rate peak above 5%. This did not make the bond market hot or cold, with a 10-year still positioned around 3.52%, whereas it had exceeded 4.3% at the end of October. Translation? The market is no longer as worried as it was in the fall, after a series of statistics showing that economic overheating is dissipating. It does not believe that the Fed will go beyond 5%. +As I write these lines, supreme leader Jerome Powell is due to speak at a panel discussion. Some commentators believe that he will say inflation is still an issue and that it will keep raising rates until it is under control. Others believe that he might not comment on markets at all. +Meanwhile, on the equity side, risk appetite has been reawakened. US indices still lost some of their gains from the previous day's session, which even caused the S&P500 to fall slightly at the close (-0.08%) yesterday. But the Nasdaq remained up 0.62%, driven by semiconductors and massive purchases of stocks heavily punished over the past months, such as Tesla or DocuSign. In Europe, despite a small drop at the end of the day, the indices still shone. The French CAC40, for example, broke through the 6,900-point barrier for the fourth time in five sessions in 2023. This is the highest level since February 2022. +This morning, in premarket trading, Wall Street’s three main indexes remained in the red ahead of Powell’s speech. +  +Economic highlights of the day: +On the agenda, US wholesale sales for November (10:00am). All the agenda is here.  +The dollars is slightly up to EUR 0.9327 and GBP 0.8239. The ounce of gold is flat at USD 1873. Oil retreats slightly, with North Sea Brent crude at USD 79.90 per barrel and US WTI light crude at USD 75.17. The yield on 10-year US debt comes out slightly lower at 3.54%. Bitcoin is trading around 17,200 dollars. +  +In corporate news: +* Microsoft is discussing a $10 billion investment in OpenAI, the owner of the conversational robot ChatGPT, media outlet Semafor reported, citing sources close to the matter. +* Apple plans to replace in 2025 in its devices the Wifi and Bluetooth chips designed by Broadcom with its own products, Bloomberg reported Monday, citing sources close to the case. Broadcom was down 0.9% in pre-market trading. +* Amazon plans to close three warehouses in the U.K., which could affect 1,200 jobs, PA Media reported. +* Virgin Orbit was down 23.3% in premarket trading Tuesday after a failed satellite launch into space from the U.K. The group owned by British billionaire Richard Branson announced that an anomaly had prevented the Cosmic Girl rocket, carried by a modified Boeing 747, from reaching orbit. +* Pfizer is not discussing with Chinese authorities a license for generic versions of its anti-COVID-19 treatment Paxlovid in China, Chief Executive Albert Bourla said on Monday, reacting to a report by Reuters on Friday. The discussions are only about the price at which Paxlovid will be offered in China, the Pfizer boss said. +* CVS Health is considering an acquisition of health-care center operator Oak Street Health Bloomberg reported Monday, citing sources close to the matter. Oak Street Health shares jumped 28 percent in after-hours trading. +* The Carlyle Group - The U.S. private equity firm has acquired a majority stake in Indian beauty and wellness products group VLCC for about $300 million, two sources told Reuters on Tuesday. +* Jefferies Financial Group - The investment bank reported a 52.5 percent drop in fourth-quarter profit on Monday amid lower fees and market volatility that weighed on trading revenue. +* Coinbase Global gained 4.8% in premarket trading after the company announced a plan to cut nearly 1,000 jobs by the second quarter. +* Illumina plunged 10.03% in premarket trading after it lowered its revenue growth forecast for this year to a range of 7%-10% from 10%. +* Bed Bath & Beyond gained 4.9% in premarket trading before the release of its quarterly results. +* Agilent Technologies gained 1% in after-hours trading on the announcement of an additional $2 billion share buyback program beginning March 1. +  +Analyst recommendations: + +Admiral: Deutsche Bank upgraded from hold to buy. +Ally Financial: Jefferies downgrades to hold from buy. PT down 4.6% to $25. +Apple: Bernstein adjusts PT to $125 from $170, Maintains Market Perform rating. +Ashmore: Barclays moves from Overweight to Equal weight with a GBp 280 target. +AT&T: Wells Fargo upgrades to overweight from equal-weight. PT up 16% to $22. +Boeing: Morgan Stanley downgrades to equal-weight from overweight. PT up 5.5% to $220. +BT Group: Jefferies remains Buy with a price target reduced from GBp 250 to GBp 190. +Camden Property: Mizuho Securities upgrades to buy from neutral. PT up 11% to $125. +Centrica: Exane BNP Paribas resumes its Outperform rating, targeting GBp 150. +Clarkson: HSBC upgrades from buy to hold targeting GBp 3400. +Keysight: Barclays upgrades to overweight from equal-weight. PT up 14% to $202. +Nabors: Barclays upgrades to overweight from equal-weight. PT jumps 30% to $200. +NetApp: Barclays downgrades to equal-weight from overweight. PT up 11% to $71. +Next: Investec downgrades to hold from buy. PT set to 6,480 pence, implies a 0.4% increase from last price. +Nike: KGI Securities raised its recommendation on Nike Inc. Class B to outperform from neutral. PT up 8.9% to $136. +Oneok: J.P. Morgan upgrades to overweight from neutral. PT up 11% to $75. +PDC Energy: Mizuho Securities initiated coverage with a recommendation of buy. PT set to $97. +PPG Industries: RBC Capital Markets downgrades to sector perform from outperform. PT inches up 0.1% to $129. +Schwab: CICC initiated coverage with a recommendation of outperform. PT set to $110. +Superdry: RBC moves from Outperform to Sector Perform. + diff --git a/news/AAPL/2023.01.10/Global markets live: Microsoft, Apple, Pfizer, Shell, Ford....txt b/news/AAPL/2023.01.10/Global markets live: Microsoft, Apple, Pfizer, Shell, Ford....txt new file mode 100644 index 0000000000000000000000000000000000000000..d1f8ab3ffaa3ae98e23e832a5458e3e7b3bb67dc --- /dev/null +++ b/news/AAPL/2023.01.10/Global markets live: Microsoft, Apple, Pfizer, Shell, Ford....txt @@ -0,0 +1,30 @@ + +  +  +  + +Microsoft is reportedly in discussions to invest $10 billion in OpenAI, according to Semafor. +Apple would replace Broadcom chips and Qualcomm parts with its own components. +Pfizer CEO confirms a partner is preparing to manufacture the COVID-19 pill in China, but denies talks about a generic copy. +Danaher expects better-than-expected revenue growth for the fourth quarter. +Manchester United, Tottenham and Liverpool are reportedly takeover targets for the Qatar fund, according to Bloomberg News. +Holcim is acquiring Italy's Nicem. +Johnson & Johnson is eyeing acquisitions in eye care, surgical robots, orthopedics and cardiovascular products. +Shell is considering reducing its investments in the U.K. after the windfall tax increase. +The U.S. Supreme Court rejects Bristol-Myers Squibb's renewed bid in its patent dispute with Gilead Sciences. +General Electric HealthCare is to acquire Imactis for an undisclosed sum. +Nagarro adjusts its forecast. +Brunello Cucinelli targets €1 billion in revenue this year. +Enel places €1.75 billion in bonds. +Ford to collaborate with LG Energy Solution to build a battery plant in Turkey, dropping SK on the deal. +GSK wins U.S. appeals court victory in Zofran case. +Roche and Sonnet BioTherapeutics partner to evaluate an ovarian cancer combo in a Phase 1b/2a study. +Amazon plans to close three warehouses in the U.K., which could affect 1,200 jobs, PA Media reported. +Virgin Orbit’s satellite launch into space from the U.K. failed. The group owned by British billionaire Richard Branson announced that an anomaly had prevented the Cosmic Girl rocket, carried by a modified Boeing 747, from reaching orbit. +CVS Health is considering an acquisition of health-care center operator Oak Street Health Bloomberg reported Monday. +The Carlyle Group has acquired a majority stake in Indian beauty and wellness products group VLCC for about $300 million, two sources told Reuters on Tuesday. +Jefferies Financial Group reported a 52.5 percent drop in fourth-quarter profit on Monday amid lower fees and market volatility that weighed on trading revenue. +Coinbase Global gained 4.8% in premarket trading after the company announced a plan to cut nearly 1,000 jobs by the second quarter. +Illumina lowered its revenue growth forecast for this year to a range of 7%-10% from 10%. +Agilent Technologies announced an additional $2 billion share buyback program beginning March 1. + diff --git a/news/AAPL/2023.01.10/MarketScreener's World Press Review: January 10.txt b/news/AAPL/2023.01.10/MarketScreener's World Press Review: January 10.txt new file mode 100644 index 0000000000000000000000000000000000000000..4bed09fd8aed18aff6287b521ecab839365e9c89 --- /dev/null +++ b/news/AAPL/2023.01.10/MarketScreener's World Press Review: January 10.txt @@ -0,0 +1,11 @@ + +AstraZeneca, CinCor, Bayer, Lukoil, Morgan Stanley, Rite Aid, Cargill, CureVac, Novavax, Harmony Biosciences & Sanofi, Pfizer & Zhejiang Huahai, Lululemon, American Eagle Outfitters, Abercrombie & Fitch, Intel, Apple, Broadcom, Qualcomm, Inari Amertron, Walt Disney, Microsoft, Coca-Cola, PepsiCo, Bed Bath & Beyond, Lockheed Martin, Fujitsu feature in this press review! + + + + +  + +  +  +  diff --git a/news/AAPL/2023.01.10/South Korean shares flat as investors await U.S. inflation data.txt b/news/AAPL/2023.01.10/South Korean shares flat as investors await U.S. inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..6b1736dd9299b99d06fa03e38c8b4c2e28f0b175 --- /dev/null +++ b/news/AAPL/2023.01.10/South Korean shares flat as investors await U.S. inflation data.txt @@ -0,0 +1,27 @@ +*KOSPI cuts early gains*Korean won turns down against dollar*South Korea benchmark bond yield fallsSEOUL, Jan 11 (Reuters) - Round-up of South Korean +financial markets:** South Korean shares erased early gains to trade flat on +Wednesday, with investors refraining from taking positions +before U.S. inflation data due this week. The Korean won +weakened, while the benchmark bond yield fell.** The benchmark KOSPI was marginally up by 0.23 +points, or 0.01%, to 2,351.54 as of 0143 GMT, after rising 0.78% +earlier.** The market extended the broadly subdued sentiment from +Tuesday, with the benchmark ended up 0.05%, as investors awaited +U.S. inflation data which is scheduled for release on Thursday.** "The index is expected to be kept in a narrow range for +the time being, with the focus set on U.S. inflation," said Kim +Seok-hwan, an analyst at Mirae Asset Securities.** Meanwhile, a Reuters poll showed the Bank of Korea will +raise interest rates by another quarter percentage point on +Friday, likely its last move in the current tightening cycle.** Technology giant Samsung Electronics rose +0.33%, peer SK Hynix gained 0.69%, but battery maker +LG Energy Solution declined 0.32%.** Online platform services majors Naver and +Kakao rose 1.81% and 1.98%, respectively, tracking +U.S. peers' gains.** LG Display fell 2.23%, after a report that +its customer Apple was planning to start using its own +custom displays for its products from 2024 onwards.** Of the total 933 issues traded, 550 shares advanced.** Foreigners were marginally net buyers, purchasing shares +worth 21.2 billion won ($16.99 million).** The won was quoted 0.32% lower at 1,248.7 per dollar on +the onshore settlement platform, reversing its early +gain of 0.41%.** In money and debt markets, March futures on three-year +treasury bonds rose 0.13 point to 104.33.** The most liquid three-year Korean treasury bond yield +fell by 3.9 basis points to 3.517%, while the benchmark 10-year +yield fell by 0.8 basis point to 3.454%. +($1 = 1,248.1200 won) +(Reporting by Jihoon Lee; Editing by Rashmi Aich) \ No newline at end of file diff --git a/news/AAPL/2023.01.10/Stocks rise as Powell remarks avoid rate policy.txt b/news/AAPL/2023.01.10/Stocks rise as Powell remarks avoid rate policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..725e90947dd30783d7a71b5d128716451e66c5e2 --- /dev/null +++ b/news/AAPL/2023.01.10/Stocks rise as Powell remarks avoid rate policy.txt @@ -0,0 +1 @@ +The Dow ended half a percent higher. The S&P 500 finished up seven tenths of a percent, while the Nasdaq rose a full percent.Powell said at a forum sponsored by the Swedish central bank that the Fed's independence is essential for it to battle inflation, but he offered no clues on future interest rate hikes. George Ball is chairman of Sanders Morris Harris. "He was quite careful not to say anything that would tip his hand or tip his hand differently as to the monetary policy so that there was no new light shed on what the Fed may do next. And that's really the big question right now. Everybody wants direction from the Fed, and that direction may be a year or a year and a half off... Right now, the Fed is going to stay hawkish in tone. They are going to stay even handed and will raise rates in more moderate steps, but raise rates to something like a 5% or 5.25% level over the first half of the year. And then we'll probably just keep it there for a long time until circumstances change substantially."Tech shares, including Amazon and Microsoft, gave the S&P 500 its biggest boost on Tuesday. Shares of Broadcom fell, but pared much of the losses by the close, after a report said Apple plans to replace a Broadcom chip from its devices with an in-house design in 2025.Shares of investment bank Jefferies Financial rose, a day after it posted its second-best year for investment banking revenue.And shares of Bed Bath & Beyond jumped more than 27% as retail investors speculated it could be a potential acquisition target and as short-sellers closed out their bets on the stock falling.The struggling retailer on Tuesday also said it will lay off more employees in an attempt to reduce costs, a week after announcing it was considering filing for bankruptcy. \ No newline at end of file diff --git a/news/AAPL/2023.01.10/U.S. judge rules Apple Watches infringed Masimo patent - medical device maker.txt b/news/AAPL/2023.01.10/U.S. judge rules Apple Watches infringed Masimo patent - medical device maker.txt new file mode 100644 index 0000000000000000000000000000000000000000..cbbe2b6f17307eb67c647228c7ec4a5b493544ad --- /dev/null +++ b/news/AAPL/2023.01.10/U.S. judge rules Apple Watches infringed Masimo patent - medical device maker.txt @@ -0,0 +1 @@ +(Reuters) - A U.S. judge ruled that Apple had infringed on one of Masimo Corp's pulse oximeter patents by importing and selling certain Apple Watches with light-based pulse oximetry functionality and components, Masimo said on Tuesday. (Reporting by Rahat Sandhu and Shivani Tanna in Bengaluru; Editing by Janane Venkatraman) \ No newline at end of file diff --git a/news/AAPL/2023.01.10/Wall St climbs; Powell comments avoid rate policy.txt b/news/AAPL/2023.01.10/Wall St climbs; Powell comments avoid rate policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..3c0a4566d8d260f6ba1fb02d34c5de26685da83e --- /dev/null +++ b/news/AAPL/2023.01.10/Wall St climbs; Powell comments avoid rate policy.txt @@ -0,0 +1,35 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Investors await CPI data Thursday*Indexes up: Dow 0.4%, S&P 500 0.5%, Nasdaq 0.8%NEW YORK, Jan 10 (Reuters) - U.S. stocks edged higher in +afternoon trading Tuesday, led by big growth shares, on relief +that Federal Reserve Chair Jerome Powell refrained in a speech +from commenting on rate policy.In his first public appearance of the year,Powell said at a forum sponsored by the Swedish central bank +that the Fed's independence is essential for it to battle +inflation.Recent comments by other Fed officials have supported the +view that the central bank needs to remain aggressive in raising +interest rates to control inflation. Fed Governor Michelle +Bowman said on Tuesday the bank will have to raise interest +rates further to combat high inflation.Investors anxiously awaited the U.S. consumer prices index +report Thursday, which is expected to show some moderation in +year-on-year prices in December."There are some indications that inflation is slowing +significantly. What investors are really looking for is a gap +down in major inflation data that could probably get the Fed's +attention," said Tim Ghriskey, senior portfolio strategist at +Ingalls & Snyder in New York.Traders are betting on a 25-basis point rate hike at the +Fed's upcoming policy meeting in February.Communications services and consumer discretionary +were among the day's best performers among sectors.The Dow Jones Industrial Average rose 119.1 points, +or 0.36%, to 33,636.75, the S&P 500 gained 20.54 points, +or 0.53%, to 3,912.63 and the Nasdaq Composite added +82.96 points, or 0.78%, to 10,718.61.Amazon.com Inc and Microsoft Corp gave the +S&P 500 its biggest boost.Some investors are hoping for signs that the Fed may soon +take a break after raising the federal funds rate seven times in +2022.The World Bank on Tuesday slashed its 2023 growth forecasts +on Tuesday to levels teetering on the brink of recession for +many countries as the impact of central bank rate hikes +intensifies.Broadcom Inc shares fell, a day after a report that +Apple Inc plans to replace a Broadcom chip from its +devices with an in-house design in 2025.Advancing issues outnumbered decliners on the NYSE by a +2.06-to-1 ratio; on Nasdaq, a 2.31-to-1 ratio favored advancers.The S&P 500 posted two new 52-week highs and no new lows; +the Nasdaq Composite recorded 54 new highs and 25 new lows. +(Additional reporting by Ankika Biswas, Amruta Khandekar and +Johann M Cherian in Bengaluru; Editing by Shinjini Ganguli, +Shounak Dasgupta and Richard Chang) \ No newline at end of file diff --git a/news/AAPL/2023.01.10/Wall St ends higher; Powell comments avoid rate policy.txt b/news/AAPL/2023.01.10/Wall St ends higher; Powell comments avoid rate policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..335626839426a533aee389b6bc4754609a9b02b9 --- /dev/null +++ b/news/AAPL/2023.01.10/Wall St ends higher; Powell comments avoid rate policy.txt @@ -0,0 +1,39 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Investors await CPI data Thursday*U.S. earnings season begins this week*Jefferies shares rise after resultsNEW YORK, Jan 10 (Reuters) - U.S. stocks ended higher on +Tuesday on relief that Federal Reserve Chair Jerome Powell +refrained in a speech from commenting on rate policy.In his first public appearance of the year,Powell said at a forum sponsored by the Swedish central bank +that the Fed's independence is essential for it to battle +inflation.Recent comments by other Fed officials have supported the +view that the central bank needs to remain aggressive in raising +interest rates to control inflation. Fed Governor Michelle +Bowman said on Tuesday the bank will have to raise interest +rates further to combat high inflation."Everybody hangs on every word from the Fed," said Tim +Ghriskey, senior portfolio strategist at Ingalls & Snyder in New +York. Powell "didn't really say anything" about policy, he +added.Investors anxiously awaited the U.S. consumer prices index +report Thursday, which is expected to show some moderation in +year-on-year prices in December.Traders are betting on a 25-basis point rate hike at the +Fed's upcoming policy meeting in February."There are some indications that inflation is slowing +significantly. What investors are really looking for is a gap +down in major inflation data that could probably get the Fed's +attention," Ghriskey said.Communications services was among the day's +best-performing sectors, while energy rose along with +oil prices.Unoffically, the Dow Jones Industrial Average +rose 187.9 points, or 0.56%, to 33,705.55, the S&P 500 +gained 27.32 points, or 0.70%, to 3,919.41 and the Nasdaq +Composite added 106.98 points, or 1.01%, to 10,742.63.This week marks the start of the fourth-quarter earnings +season for S&P 500 companies, with results from several of Wall +Street's biggest banks due later this week.Shares of investment bank Jefferies Financial Group +rose on Tuesday, a day after itpostedits second-best year for investment banking revenue. It +also reported a 52.5% slump in fourth-quarter profit.Analysts expect overall S&P 500 earnings to have +declined 2.2% in the fourth quarter from a year ago as worries +about rising rates and the economy mount, according to IBES data +from Refinitiv.Some investors are hoping for signs that the Fed may soon +take a break after raising the federal funds rate seven times in +2022.The World Bank on Tuesday slashed its 2023 growth forecasts +on Tuesday to levels teetering on the brink of recession for +many countries as the impact of central bank rate hikes +intensifies. +(Additional reporting by Ankika Biswas, Amruta Khandekar and +Johann M Cherian in Bengaluru; Editing by Shinjini Ganguli, +Shounak Dasgupta and Richard Chang) \ No newline at end of file diff --git a/news/AAPL/2023.01.10/Wall St rises as Fed's Powell steers clear of monetary policy outlook.txt b/news/AAPL/2023.01.10/Wall St rises as Fed's Powell steers clear of monetary policy outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a237688590975620c26af4f8ea4346f7d0d6c64 --- /dev/null +++ b/news/AAPL/2023.01.10/Wall St rises as Fed's Powell steers clear of monetary policy outlook.txt @@ -0,0 +1,41 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Broadcom falls on report of Apple's plan to replace chip*Indexes up: Dow 0.08%, S&P 0.07%, Nasdaq 0.16%Jan 10 (Reuters) - Wall Street's main indexes rose on +Tuesday as Federal Reserve Chair Jerome Powell steered clear of +commenting on the monetary policy outlook, with focus turning to +an upcoming inflation reading scheduled for later this week.Powell's remarks, which offered no clues on the Fed's plans +for future tightening, came as a major relief after two other +policymakers on Monday injected a note of caution over the +interest rate outlook."He (Powell) hasn't disrupted the market in any way and the +fact that he stresses the need for political independence while +tackling inflation, that's a definite positive for the markets," +said Peter Cardillo, chief market economist at Spartan Capital +Securities, New York.Traders held on to bets of a 25-basis point rate hike at the +U.S. central bank's upcoming policy meeting in February, with +the terminal rate seen slightly below 5% by June.Markets have been hoping that the Fed could soon signal an +end to its rate hiking cycle following recent signs of a +slowdown in the U.S. economy, even as policymakers reiterate the +central bank's priority to bring inflation under control."The Fed has a little bit more tightening to do," said David +Russell, vice president of market intelligence at TradeStation +Group, adding that Thursday's inflation report will be crucial +in shaping interest rate expectations.The much-awaited consumer prices index (CPI) report from the +U.S. Labor Department is expected to show some moderation in +year-on-year prices in December.The Fed's aggressive monetary policy tightening to curb +decades-high inflation hammered U.S. equities in 2022, with the +three main indexes logging their steepest annual declines since +2008.Fed Governor Michelle Bowman said on Tuesday the U.S. +central bank will have to raise interest rates further to combat +high inflation.Among major S&P 500 sectors, retailers were up 0.8% +and in the lead, while consumer discretionary stocks +rose 0.2%, with Amazon.com Inc driving gains in both +the subindexes.Healthcare stocks rose 0.5% and were also a major +boost to the benchmark S&P 500 index.At 11:59 a.m. ET, the Dow Jones Industrial Average +was up 28.41 points, or 0.08%, at 33,546.06, the S&P 500 +was up 2.71 points, or 0.07%, at 3,894.80, and the Nasdaq +Composite was up 17.25 points, or 0.16%, at 10,652.90.Broadcom Inc fell 3.4% on a report that Apple Inc +plans to replace a Broadcom chip from its devices with +an in-house design in 2025.Advancing issues outnumbered decliners for a 1.17-to-1 ratio +on the NYSE and a 1.62-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week high and no new low, +while the Nasdaq recorded 37 new highs and 20 new lows. +(Reporting by Ankika Biswas, Amruta Khandekar and Johann M +Cherian in Bengaluru; Editing by Shinjini Ganguli and Shounak +Dasgupta) \ No newline at end of file diff --git a/news/AAPL/2023.01.10/Wall St rises as Powell gives no clear comment on monetary policy outlook.txt b/news/AAPL/2023.01.10/Wall St rises as Powell gives no clear comment on monetary policy outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9058acdcd81e18920febd9a2d79bd3e067f3397 --- /dev/null +++ b/news/AAPL/2023.01.10/Wall St rises as Powell gives no clear comment on monetary policy outlook.txt @@ -0,0 +1,39 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window.)*Powell steers clear of monetary policy outlook*Microsoft up on report of investment talks*Boeing down on report of rating downgrade*Indexes up: Dow 0.33%, S&P 0.42%, Nasdaq 0.70%Jan 10 (Reuters) - Wall Street's main indexes edged +higher on Tuesday, boosted by gains in Microsoft and Amazon, as +investors assessed commentary from Federal Reserve Chair Jerome +Powell that steered clear of the monetary policy outlook.Microsoft Corp rose 1.2% after a report stated the +software company was in talks to invest $10 bln in ChatGPT +creator OpenAI.The gains pushed up the S&P 500 information technology +sector 0.3%, while a 1.6% rise in Amazon boosted the +consumer discretionary sector.Boeing Co dipped 1.3%, pressuring the Dow Jones +, on a report that Morgan Stanley downgraded the U.S. +planemaker's rating to "equal weight" from "overweight".The U.S. central bank's independence from political +influence is central to its ability to battle inflation, Powell +said on Tuesday.Powell's remarks failed to assuage investors rattled by +remarks from two other Federal Reserve policymakers on Monday.The comments had dampened hopes that inflation in the United +States had peaked and the Fed may soon signal an end to its rate +hiking cycle, bolstered by data last week that showed a +moderation in wage increases."He (Powell) hasn't disrupted the market in any way and the +fact that he stresses the need for political independence while +tackling inflation, that's a definite positive for the markets," +said Peter Cardillo, chief market economist at Spartan Capital +Securities, New York."But he has not touched upon or given hints about what the +Fed is going do in the future on rates."Money market bets of a 25-bps hike to in the Fed's upcoming +policy meeting were unchanged at 75%, with the terminal rate +seen slightly below 5% by June.Investors are now keenly awaiting the U.S. Labor +Department's consumer prices report on Thursday. It is expected +to show some moderation in year-on-year consumer prices in +December.The Fed's aggressive monetary policy tightening to curb +decades-high inflation hammered U.S. equities in 2022, with the +three main indexes logging their steepest annual declines since +2008.At 10:18 a.m. ET, the Dow Jones Industrial Average +was up 111.74 points, or 0.33%, at 33,629.39, the S&P 500 +was up 16.52 points, or 0.42%, at 3,908.61, and the Nasdaq +Composite was up 74.50 points, or 0.70%, at 10,710.15.Broadcom Inc fell 3.3% on a report that Apple Inc +plans to replace the former's chip from its devices +with an in-house design in 2025.Advancing issues outnumbered decliners by a 1.32-to-1 ratio +on the NYSE and by a 1.75-to-1 ratio on the Nasdaq.The S&P index recorded 1 new 52-week high and no new lows, +while the Nasdaq recorded 27 new highs and 14 new lows. +(Reporting by Ankika Biswas and Amruta Khandekar ; Editing by +Shinjini Ganguli) \ No newline at end of file diff --git a/news/AAPL/2023.01.11/Apple : Introducing Apple Business Connect.txt b/news/AAPL/2023.01.11/Apple : Introducing Apple Business Connect.txt new file mode 100644 index 0000000000000000000000000000000000000000..3dbf9e7f687667dee048c3dcb120e31bd13b588d --- /dev/null +++ b/news/AAPL/2023.01.11/Apple : Introducing Apple Business Connect.txt @@ -0,0 +1,325 @@ + + + +UPDATEJanuary 11, 2023 + + + + Introducing Apple Business Connect + + + + The free tool allows businesses of all sizes to customize the way their information appears across Apple apps + + + + Apple Business Connect is a new, free tool that allows businesses to customize their location place cards with beautiful images, key information, and special promotions. + + + + Apple today introduced Apple Business Connect, a free tool that allows businesses of all sizes to claim their location place cards and customize the way key information appears to more than a billion Apple users across Apple Maps, Messages, Wallet, Siri, and other apps. + + + "We created Business Connect to provide Apple users around the world with the most accurate information for places to eat, shop, travel, and more," said Eddy Cue, Apple's senior vice president of Services. "Apple Business Connect gives every business owner the tools they need to connect with customers more directly, and take more control over the way billions of people see and engage with their products and services every day." + + + + + +A Walgreens place card in Chicago is shown in Apple Maps. + + +A person's transaction history at La Colombe is shown in Wallet. + + +The San Francisco Zoo's place card is shown in a Messages conversation. + + + + + Information in the Maps place card appears to more than a billion Apple users across Siri, Wallet, and Messages, and other apps. + + + Information in the Maps place card appears to more than a billion Apple users across Siri, Wallet, and Messages, and other apps. + + + Information in the Maps place card appears to more than a billion Apple users across Siri, Wallet, and Messages, and other apps. + + + + +previous + + +next + + + + + +Improving Customer Engagement in Apple Maps + + + With Business Connect, businesses around the world can now directly manage their information in the interactive Apple Maps place card, including adding and updating photos and logos; inviting customers to take actions like ordering food or making a reservation directly from Maps; and presenting customers with special promotions. + + + Showcases, a new feature in the place card, helps businesses present customers with offers and incentives, like seasonal menu items, product discounts, and more. Businesses can easily update the Showcase section of their place card through Business Connect. Showcases are available to businesses in the US beginning today, and will be available to businesses globally in coming months. + + + Businesses can also provide customers with useful information by highlighting actions for them to take directly from the Maps place card, like ordering groceries via Instacart, making a hotel reservation through Booking.com, or reserving a spot for dinner with OpenTable, and more, with just a tap. + + + + + +The place card for the Ace Hotel & Swim Club in Palm Springs is shown. + + +A place card is shown for a Walmart location. + + + + + With Business Connect, businesses can present customers with offers and incentives and highlight actions for them to take directly from the Maps place card. + + + With Business Connect, businesses can present customers with offers and incentives and highlight actions for them to take directly from the Maps place card. + + + + +previous + + +next + + + + + +Registering for Business Connect + + + Business owners can use their existing Apple ID - or create a new Apple ID - to register for Business Connect at the self-service website from any desktop or laptop computer. Once a business has logged in and Apple has verified their business, they can claim their location(s) and begin updating and personalizing their place card, all for free. + + + For businesses with many locations, Business Connect includes Business Connect API to easily deliver accurate, up-to-date information to Maps at scale through listing management agencies such as Reputation, Rio SEO, SOCi, Uberall, and Yext. + + + + Business owners can easily register for Business Connect at the self-service website and begin customizing their presence across Apple apps. + + + +Apple Tools for Small Businesses + + + Apple designed Business Connect with small businesses in mind, offering them the same access and ability to customize their digital presence as global brands. Business Connect complements other Apple services designed to help small businesses grow and reach customers, including Tap to Pay on iPhone - which enables businesses to seamlessly and securely accept Apple Pay, contactless credit and debit cards, and other digital wallets through a simple tap to their iPhone - and Business Essentials, a subscription that brings together device management, 24/7 support, and cloud storage. + + + + Share article + + + + + + + Text of this article + + + + + January 11, 2023 + + + UPDATE + + + Introducing Apple Business Connect + + + The free tool allows businesses of all sizes to customize the way their information appears across Apple apps + + + Apple today introduced Apple Business Connect, a free tool that allows businesses of all sizes to claim their location place cards and customize the way key information appears to more than a billion Apple users across Apple Maps, Messages, Wallet, Siri, and other apps. + + + "We created Business Connect to provide Apple users around the world with the most accurate information for places to eat, shop, travel, and more," said Eddy Cue, Apple's senior vice president of Services. "Apple Business Connect gives every business owner the tools they need to connect with customers more directly, and take more control over the way billions of people see and engage with their products and services every day." + + +Improving Customer Engagement in Apple Maps + + + With Business Connect, businesses around the world can now directly manage their information in the interactive Apple Maps place card, including adding and updating photos and logos; inviting customers to take actions like ordering food or making a reservation directly from Maps; and presenting customers with special promotions. + + + Showcases, a new feature in the place card, helps businesses present customers with offers and incentives, like seasonal menu items, product discounts, and more. Businesses can easily update the Showcase section of their place card through Business Connect. Showcases are available to businesses in the US beginning today, and will be available to businesses globally in coming months. + + + Businesses can also provide customers with useful information by highlighting actions for them to take directly from the Maps place card, like ordering groceries via Instacart, making a hotel reservation through Booking.com, or reserving a spot for dinner with OpenTable, and more, with just a tap. + + +Registering for Business Connect + + + Business owners can use their existing Apple ID - or create a new Apple ID - to register for Business Connect at the self-service website from any desktop or laptop computer. Once a business has logged in and Apple has verified their business, they can claim their location(s) and begin updating and personalizing their place card, all for free. + + + For businesses with many locations, Business Connect includes Business Connect API to easily deliver accurate, up-to-date information to Maps at scale through listing management agencies such as Reputation, Rio SEO, SOCi, Uberall, and Yext. + + +Apple Tools for Small Businesses + + + Apple designed Business Connect with small businesses in mind, offering them the same access and ability to customize their digital presence as global brands. Business Connect complements other Apple services designed to help small businesses grow and reach customers, including Tap to Pay on iPhone - which enables businesses to seamlessly and securely accept Apple Pay, contactless credit and debit cards, and other digital wallets through a simple tap to their iPhone - and Business Essentials, a subscription that brings together device management, 24/7 support, and cloud storage. + + + Press Contacts + + + Julia Schechter + + + Apple + + + ja_schechter@apple.com + + + Fay Sliger + + + Apple + + + fsliger@apple.com + + + (669) 227-0877 + + + Apple Media Helpline + + + media.help@apple.com + + + (408) 974-2042 + + +Copy text + + + + + + + Images in this article + + +Download all images + + + + + + + + Press Contacts + + + + + Julia Schechter + + + Apple + + + ja_schechter@apple.com + + + + + Fay Sliger + + + Apple + + + fsliger@apple.com + + + (669) 227-0877 + + + + + Apple Media Helpline + + + media.help@apple.com + + + (408) 974-2042 + + + + + + + Latest News + + + +UPDATE + + +Apple and Major League Soccer unveil broadcasters for MLS Season Pass + + +January 10, 2023 + + + + +UPDATE + + +Apple celebrates a groundbreaking year in entertainment + + +January 10, 2023 + + + + +UPDATE + + +Apple Fitness+ unveils new offerings for the new year + + +January 5, 2023 + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Apple Inc. published this content on 11 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 January 2023 15:05:07 UTC. + + diff --git a/news/AAPL/2023.01.11/Apple Is Working On Adding Touch Screens To Macs In Major Turnabout- Bloomberg News.txt b/news/AAPL/2023.01.11/Apple Is Working On Adding Touch Screens To Macs In Major Turnabout- Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..9152b94d865600bf97c959a80106c992df810369 --- /dev/null +++ b/news/AAPL/2023.01.11/Apple Is Working On Adding Touch Screens To Macs In Major Turnabout- Bloomberg News.txt @@ -0,0 +1,5 @@ +Jan 11 (Reuters) -* APPLE IS WORKING ON ADDING TOUCH SCREENS TO MACS IN MAJOR +TURNABOUT- BLOOMBERG NEWS* APPLE COULD LAUNCH ITS FIRST TOUCH-SCREEN MAC IN 2025 AS +PART OF +A LARGER UPDATE TO THE MACBOOK PRO- BLOOMBERG NEWS +Source text: https://bloom.bg/3GyPPgb \ No newline at end of file diff --git a/news/AAPL/2023.01.11/Apple Promises To Disclose More Details About App Removals- FT.txt b/news/AAPL/2023.01.11/Apple Promises To Disclose More Details About App Removals- FT.txt new file mode 100644 index 0000000000000000000000000000000000000000..83bf36e185af6eb1de23352a63541659c0ffe17b --- /dev/null +++ b/news/AAPL/2023.01.11/Apple Promises To Disclose More Details About App Removals- FT.txt @@ -0,0 +1,4 @@ +Jan 11 (Reuters) -* APPLE PROMISES TO DISCLOSE MORE DETAILS ABOUT APP +REMOVALS- FT +Source text: https://on.ft.com/3GrkhsA +Further company coverage: \ No newline at end of file diff --git "a/news/AAPL/2023.01.11/Apple is working on adding touch screens to macs in major turnab\342\200\246.txt" "b/news/AAPL/2023.01.11/Apple is working on adding touch screens to macs in major turnab\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c63a3b4e8addd3ab8fe3807d640ebd83ff27d07d --- /dev/null +++ "b/news/AAPL/2023.01.11/Apple is working on adding touch screens to macs in major turnab\342\200\246.txt" @@ -0,0 +1 @@ +APPLE IS WORKING ON ADDING TOUCH SCREENS TO MACS IN MAJOR TURNABOUT- BLOOMBERG NEWS \ No newline at end of file diff --git a/news/AAPL/2023.01.11/Apple may add touch screens to Mac computers - Bloomberg News.txt b/news/AAPL/2023.01.11/Apple may add touch screens to Mac computers - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..35596ae0937381f2dbb9f35ac5ca34c2ca5a8be2 --- /dev/null +++ b/news/AAPL/2023.01.11/Apple may add touch screens to Mac computers - Bloomberg News.txt @@ -0,0 +1 @@ + (Reporting by Bhanvi Satija in Bengaluru; Editing by Maju Samuel) \ No newline at end of file diff --git "a/news/AAPL/2023.01.11/Apple promises to disclose more details about app removals- ft\342\200\246.txt" "b/news/AAPL/2023.01.11/Apple promises to disclose more details about app removals- ft\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..321fb81fca7c2e7f70394b4693f9598058bf461f --- /dev/null +++ "b/news/AAPL/2023.01.11/Apple promises to disclose more details about app removals- ft\342\200\246.txt" @@ -0,0 +1 @@ +APPLE PROMISES TO DISCLOSE MORE DETAILS ABOUT APP REMOVALS- FT \ No newline at end of file diff --git a/news/AAPL/2023.01.11/Explainer-Why U.S. flights were grounded by a FAA system outage.txt b/news/AAPL/2023.01.11/Explainer-Why U.S. flights were grounded by a FAA system outage.txt new file mode 100644 index 0000000000000000000000000000000000000000..05e192c359a05bb948d1473e9cce08f6857fba00 --- /dev/null +++ b/news/AAPL/2023.01.11/Explainer-Why U.S. flights were grounded by a FAA system outage.txt @@ -0,0 +1 @@ +Over 4,000 flights were delayed and more than 600 canceled because of the outage as of early Wednesday morning. U.S. flights were slowly beginning to resume departures as a ground stop was lifted.Here is a brief summary of what the pilot warning system does, what we know about what went wrong and background about the safety notices provided to pilots, known as NOTAM.WHAT HAPPENED?The FAA system that is meant to distribute notices to pilots on hazards failed at about 2 a.m. Eastern Time, officials said. The FAA ordered airlines to put a halt on all domestic departures until 9 a.m. Eastern time while it tested whether crews had managed to restore the system and bring it back online.The White House said that U.S. President Joe Biden had been briefed on the outage by Secretary of Transportation Pete Buttigieg. "There is no evidence of a cyberattack at this point," White House Press Secretary Karine Jean-Pierre said in a tweet. The U.S. Department of Transportation is conducting an investigation, she said.WHAT IS A NOTAM?The system that failed on Wednesday is part of a nearly century-old practice originally known as Notices to Airmen - originally modeled on a system for notices to mariners. The system, which was changed to be called "Notices to Air Missions" in 2021, is meant to alert pilots to hazards, everything from snow, volcanic ash or birds near an airport. It also provides information on closed runways and temporary air restrictions.The NOTAMs sent by the U.S. Federal Aviation Administration are part of a global safety system managed through the United Nations' aviation agency.Pilots are required to review the notices, either printed on paper or on an iPad, before take-off.The information provided can run up to 200 pages for long-haul international flights.NOTAMs are written in a kind of encoded shorthand that had been originally designed to make communication more efficient.HOW HAS THE SYSTEM CHANGED?The U.N. Civil Aviation Organization (ICAO) has been leading an effort to overhaul the system to make it easier for airlines and pilots to filter the most important warnings and present them in clearer language.In July 2017, an Air Canada jet landed on the wrong runway at San Francisco's airport and came within seconds of colliding with four other planes.The notice of the closure of one of the two runways at the airport had been flagged in the pre-flight NOTAM - on page eight of a 27-page briefing - and missed by the pilots. The incident, and the information overload that pilots complain the system encourages, prompted the effort to change the way the system operates."(NOTAMs) are just a bunch of garbage that nobody pays any attention to," U.S. National Transportation Safety Board Chairman Robert Sumwalt said at a 2018 hearing on the Air Canada incident, which helped spur a global campaign for change.FAA officials have been involved in efforts to modernize the system in recent years. (Reporting by Nathan Gomes and Abhijith Ganapavaram in Bengaluru, Editing by Kevin Krolicki and Nick Zieminski) \ No newline at end of file diff --git a/news/AAPL/2023.01.11/Global PC market seen to recover late 2023 - reports.txt b/news/AAPL/2023.01.11/Global PC market seen to recover late 2023 - reports.txt new file mode 100644 index 0000000000000000000000000000000000000000..7b4e9118dd8ed69c425a8a6702978b99d1b91197 --- /dev/null +++ b/news/AAPL/2023.01.11/Global PC market seen to recover late 2023 - reports.txt @@ -0,0 +1 @@ +Inflation-hit and recession-wary customers have so far been delaying system upgrades, but these will be pushed into the latter part of the year and trigger PC market growth, the research firms said."The commercial segment has several drivers towards growth, including the approaching end of support for Windows 10 and a building refresh cycle," IDC analysts said.The recovery will be bolstered by an education demand bump in major markets as devices deployed during the pandemic peak reach the end of their life cycle, according to Canalys analyst Ishan Dutt."We expect delayed purchases to begin boosting the market in late 2023, with momentum picking up in 2024."The chip industry, too, is expected to rebound around the end of the first half of this year after a downturn, which was driven by a crash in electronics demand last year as red-hot inflation pushed consumers to be careful with spending.PC shipments fell 16.5% to 292.3 million units in 2022, IDC said. Fourth-quarter shipments declined 28.1%.PC maker HP Inc saw its shipments decline about 25% last year, followed by Lenovo Group Ltd and Dell Technologies Inc, according to IDC. Apple Inc was the only major PC maker that saw its shipments grow in 2022, IDC said.Shares of Dell and HP fell 27% and 29%, respectively, last year, while Lenovo dropped about 28%. Shares of PC chipmakers Intel Corp fell 48% and Advanced Micro Devices Inc declined 55.5% during the period. (Reporting by Chavi Mehta in Bengaluru; Editing by Shilpi Majumdar) \ No newline at end of file diff --git a/news/AAPL/2023.01.11/Global markets live: Darktrace, Boeing, Tesla, Wells Fargo, Accentur...txt b/news/AAPL/2023.01.11/Global markets live: Darktrace, Boeing, Tesla, Wells Fargo, Accentur...txt new file mode 100644 index 0000000000000000000000000000000000000000..791baaeee32d3b284aa1ea4de25d3e1e1ba2e05e --- /dev/null +++ b/news/AAPL/2023.01.11/Global markets live: Darktrace, Boeing, Tesla, Wells Fargo, Accentur...txt @@ -0,0 +1,33 @@ + +  +  +  +Corporate results: + +Darktrace cut its revenue outlook as customers turn cautious. +J Sainsbury sees profit at the top end of the range after Christmas sales rise. +JD Sports Fashion raised full-year profit forecast after strong year-end growth. +UK-based PageGroup cut its earnings outlook due to lower customer confidence. +Sika reports slightly better-than-targeted growth in 2022, thanks to strong price increases, but a bit below expectations. +Bed Bath & Beyond jumped 22.3% in pre-market trading despite announcing a much larger-than-expected quarterly net loss and a one-third drop in sales. The home goods chain announced last week that it was considering its options, including a bankruptcy filing. + +  +In other news: + +Boeing reports 774 net orders and delivers 480 aircraft in 2022. +Apple wants to break away from Samsung by developing its own displays. Meanwhile, a U.S. International Trade Commission judge found that Apple infringed on one of Masimo's patents on measuring blood oxygen on some Apple Watches, medical technology group Masimo announced in a statement. +Merck announced plans to sue some pharmaceutical companies after finding they were distributing its Covid-19 treatment in China without its approval. +Tesla wants to invest $775.7 million to expand its Texas plant. +Activist fund Bluebell is reportedly building up its stake in Bayer in an attempt to spin off the company, according to Bloomberg. +Coca-Cola and PepsiCo are the targets of an FTC pricing investigation. +Siemens Energy won a wind power contract worth more than €4 billion with Dragados Offshore. +Franchise Group is considering a U.S. delisting, according to the Wall Street Journal. +Fast Retailing (Uniqlo) is raising salaries sharply in Japan. +Snam and Eni finalized the purchase by Snam of 49.9% of Eni's stakes in the companies that operate the two international gas pipelines linking Algeria to Italy. +Wells Fargo is expected to exit the U.S. home loan market due to the impact of interest rate hikes and stricter regulatory requirements, CNBC reported Tuesday. +Bed Bath & Beyond will reduce its workforce in an effort to cut costs by up to $100 million, according to its CEO. +Equinor wins 26 new production licenses in Norway. +Medmix sells Polish subsidiary and revises operating margin downward. +Accenture releases a dividend. + +Main earnings reports today: Sika, JD Sports Fashion, J Sainsbury... All the agenda is here.  diff --git a/news/AAPL/2023.01.11/Google parent files redacted motion to dismiss U.S. federal antitrust lawsuit.txt b/news/AAPL/2023.01.11/Google parent files redacted motion to dismiss U.S. federal antitrust lawsuit.txt new file mode 100644 index 0000000000000000000000000000000000000000..5f23a4d5376fd170bb37972475f645a9ab3ca5f5 --- /dev/null +++ b/news/AAPL/2023.01.11/Google parent files redacted motion to dismiss U.S. federal antitrust lawsuit.txt @@ -0,0 +1 @@ +The filings on Wednesday show that the company is mounting a vigorous defense against the antitrust cases, which, if successful, could force the tech giant to spin off assets.In December, Google asked Judge Amit Mehta of the U.S. District Court for the District of Columbia to dismiss both the antitrust case that the Justice Department filed in 2020 along with 11 states as well as a related complaint brought by 35 states led by Colorado. The motions were sealed and redacted versions were filed on Wednesday. The Justice Department's lawsuit, filed by the Trump administration, alleged that Google violated antitrust law when it paid billions annually to Apple, LG Electronics Inc and other smartphone makers to ensure that Google search was the default.Google is facing additional allegations of antitrust violations from dozens of states. The lawsuit filed by Colorado and other, which was also filed in 2020, also alleges that Google illegally limits rivals' ability to operate its Search Ads 360 tool, used by advertisers to manage online marketing campaigns. It also argues that Google broke antitrust law to hamper rivals, such as travel-oriented websites.Google urged the judge to toss out the state lawsuit also on the grounds that the states failed to show evidence that they harmed competition, among others. Read more:Biden says Republicans, Democrats need to unite against Big Tech 'abuses' -WSJ (Reporting by Diane Bartz; Editing by Lisa Shumaker)By Diane Bartz \ No newline at end of file diff --git a/news/AAPL/2023.01.11/Masimo - ITC Judge Rules Apple Violated U.S. Trade Laws by Infringing Masimo Pulse Oxim...txt b/news/AAPL/2023.01.11/Masimo - ITC Judge Rules Apple Violated U.S. Trade Laws by Infringing Masimo Pulse Oxim...txt new file mode 100644 index 0000000000000000000000000000000000000000..ef1f99906aa7e0f0f8a93542853609dee9cc7637 --- /dev/null +++ b/news/AAPL/2023.01.11/Masimo - ITC Judge Rules Apple Violated U.S. Trade Laws by Infringing Masimo Pulse Oxim...txt @@ -0,0 +1 @@ +A United States Administrative Law Judge in Washington, D.C. ruled that Apple Inc. (Nasdaq: AAPL) violated Section 337 of the Tariff Act of 1930 as amended, by importing and selling within the United States certain Apple Watches with light-based pulse oximetry functionality and components, which infringe one of Masimo's (Nasdaq: MASI) pulse oximeter patents.Apple first released its pulse oximeter sensor with the Apple Watch Series 6 in 2020 and continues to use it in the current Apple Watches. The United States International Trade Commission (USITC) will now consider whether to implement an import ban on these Apple Watches.We are happy that the ALJ recognized Apple's infringement of Masimo's pulse oximetry technology and took this critical first step toward accountability,' said Joe Kiani, CEO of Masimo. 'Today's decision should help restore fairness in the market. Apple has similarly infringed on other companies' technologies, and we believe today's ruling exposes Apple as a company that takes other companies' innovations and repackages them.'Masimo is the global leader of pulse oximeters for medical use, having revolutionized the industry with its Masimo SET pulse oximetry technology, proven to help reduce blindness in babies in the neonatal intensive care unit, save lives of post-surgical patients on opioids and COVID patients monitored remotely. Masimo recently debuted its own watch - the Masimo W1 - which is the first wearable device on the market to provide consumers with accurate, continuous health data, including oxygen level, hydration index, and pulse, heart, and respiration rates.About MasimoMasimo (Nasdaq: MASI) is a global medical technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. In addition, Masimo Consumer Audio is home to eight legendary audio brands, including Bowers & Wilkins, Denon, Marantz, and Polk Audio. Our mission is to improve life, improve patient outcomes, and reduce the cost of care. Masimo SET Measure-through Motion and Low Perfusion pulse oximetry, introduced in 1995, has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies.1 Masimo SET has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates,2 improve CCHD screening in newborns,3 and, when used for continuous monitoring with Masimo Patient SafetyNet in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs.4-7 Masimo SET is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world,8 and is the primary pulse oximetry at 9 of the top 10 hospitals as ranked in the 2022-23 U.S. News and World Report Best Hospitals Honor Roll.9 In 2005, Masimo introduced rainbow Pulse CO-Oximetry technology, allowing noninvasive and continuous monitoring of blood constituents that previously could only be measured invasively, including total hemoglobin (SpHb), oxygen content (SpOC), carboxyhemoglobin (SpCO), methemoglobin (SpMet), Pleth Variability Index (PVi), RPVi (rainbow PVi), and Oxygen Reserve Index (ORi). In 2013, Masimo introduced the Root Patient Monitoring and Connectivity Platform, built from the ground up to be as flexible and expandable as possible to facilitate the addition of other Masimo and third-party monitoring technologies; key Masimo additions include Next Generation SedLine Brain Function Monitoring, O3 Regional Oximetry, and ISA Capnography with NomoLine sampling lines. Masimo's family of continuous and spot-check monitoring Pulse CO-Oximeters includes devices designed for use in a variety of clinical and non-clinical scenarios, including tetherless, wearable technology, such as Radius-7, Radius PPG, and Radius VSM, portable devices like Rad-67, fingertip pulse oximeters like MightySat Rx, and devices available for use both in the hospital and at home, such as Rad-97. Masimo hospital and home automation and connectivity solutions are centered around the Masimo Hospital Automation platform, and include Iris Gateway, iSirona, Patient SafetyNet, Replica, Halo ION, UniView, UniView :60, and Masimo SafetyNet. Its growing portfolio of health and wellness solutions includes Radius T and the Masimo W1 watch. Additional information about Masimo and its products may be found at www.masimo.com. Published clinical studies on Masimo products can be found at www.masimo.com/evidence/featured-studies/feature/.ORi, RPVi, and Radius VSM have not received FDA 510(k) clearance and are not available for sale in the United States. The use of the trademark Patient SafetyNet is under license from University HealthSystem Consortium.Forward-Looking StatementsThis press release includes forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, in connection with the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements regarding the United States Administrative Law Judge's ruling and its potential to restore fairness in the market, potential actions to be taken by the United States International Trade Commission and other potential patent infringement activities by Apple. These forward-looking statements are based on current expectations about future events affecting us and are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond our control and could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements as a result of various risk factors, including, but not limited to: risks related to our assumptions regarding the repeatability of clinical results; risks related to our belief that Masimo's unique noninvasive measurement technologies, including the Masimo W1 watch, contribute to positive clinical outcomes and patient safety; risks related to our belief that Masimo noninvasive medical breakthroughs provide cost-effective solutions and unique advantages; risks related to COVID-19; as well as other factors discussed in the 'Risk Factors' section of our most recent reports filed with the Securities and Exchange Commission ('SEC'), which may be obtained for free at the SEC's website at www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today's date. We do not undertake any obligation to update, amend or clarify these statements or the 'Risk Factors' contained in our most recent reports filed with the SEC, whether as a result of new information, future events or otherwise, except as may be required under the applicable securities laws.Contact:Evan LambTel: 949-396-3376Email: elamb@masimo.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AAPL/2023.01.11/The bulls are back in town .txt b/news/AAPL/2023.01.11/The bulls are back in town .txt new file mode 100644 index 0000000000000000000000000000000000000000..bb8d28b884fe5ac205bbcafaad68be7ab9ea4048 --- /dev/null +++ b/news/AAPL/2023.01.11/The bulls are back in town .txt @@ -0,0 +1,34 @@ + +The beginning of 2023 saw globally positive regional dynamics. Investors are testing new formulas, without really strong convictions, for lack of sufficient visibility. Nevertheless, there is a renewed appetite for risk, which can be seen in the sectoral developments since January 1. If I take the heat map proposed by MarketScreener on the US market, for example, I can see that the sectors that have fallen, and which have been abandoned by buyers, are all defensive sectors: Health Care, Beverages and Military Equipment. To this we must add the Oil & Gas industry, the star of the last two vintages, which needs to consolidate. At the other end of the spectrum, in clearly positive territory after a few 2023 sessions, we find basic materials and cyclical consumption. Technology is not doing too bad, but it is its most cyclical pocket – semiconductors - that is the most popular. Large caps in innovation or software, such as Apple or Microsoft, did not do very well. + +Fewer defensives and more cyclicals to start the year, because the market is betting on a somewhat controlled economic landing in the United States and is preparing for the Chinese recovery, which should take place after the pandemic calms down. Tuesday's stock market session on Wall Street illustrates this, with volatility and then a closing with moderate gains: 0.56% for the Dow Jones, 0.70% for the S&P500 and 0.88% for the Nasdaq. Year in, year out, the 2023 balance sheet has turned positive in the US after a few misfires at the start. Jerome Powell's statements on monetary policy yesterday did not have much impact on stocks. The bond market got a little tense because the Fed boss reminded us that the return to price stability may require measures that are not popular in the short term, but that was the end of it: Powell obviously did not intend to expand on the subject or to send any particular message. +The market as a whole remains focused on two elements, the Chinese reopening and the indicators that point to an imminent end to the Fed's monetary tightening cycle. In this respect, the focus will be on Thursday's US inflation figures for December. If it cools down as planned - annual progression should decelerate from 7.1% in November to 6.5% in December) - there is no reason for the renewed optimism of the beginning of the year to fade. +Those who are bored by the omnipresence of macroeconomic news may find some comfort in the return of corporate earnings releases. The serious stuff will start on Friday with a flurry of U.S. financial institutions before the opening of Wall Street. +  +Today's economic highlights: +The dollar is holding up at EUR 0.9303 and GBP 0.8260. The ounce of gold is firm at 1877 dollars. So is oil, with North Sea Brent at USD 81.72 a barrel and US WTI light crude at USD 76.87. The yield on 10-year US debt is up to 3.59%. Bitcoin is losing some ground after its rally to around USD 17,300. +  +In corporate news: +* Merck announced Wednesday it plans to sue some pharmaceutical companies after finding they were distributing its COVID-19 treatment in China without its approval. +* Tesla wants to invest $775.7 million to expand its Texas plant, regulatory documents released by the automaker show. +* Apple - A U.S. International Trade Commission judge found that Apple infringed on one of Masimo's patents on measuring blood oxygen on some Apple Watches, medical technology group Masimo announced in a statement. +* Bed Bath & Beyond jumped 22.3% in pre-market trading despite announcing a much larger-than-expected quarterly net loss and a one-third drop in sales. The home goods chain announced last week that it was considering its options, including a bankruptcy filing. +  +Analyst recommendations: + +BlackRock: CICC initiated coverage with a recommendation of outperform. PT set to $885. +Blackstone: Wells Fargo Securities upgrades to overweight from equal-weight. PT up 18% to $95. +Boeing: JP Morgan maintained his recommendation on the stock with a Buy rating. The target price is increased from USD 200 to USD 207. +Bunzl: Deutsche Bank downgraded Bunzl to hold from buy and lowered its price target to 30.60 pounds sterling from 33.00 pounds. +ConvaTec: HSBC resumes tracking to low, targeting GBp 200. +Estee Lauder: Daiwa Securities reinstated coverage with a recommendation of neutral. PT set to $263, a 0.2% increase from last price. +Illumina: HSBC initiated coverage with a recommendation of buy. PT set to $300. +Jefferies: Goldman Sachs downgrades to neutral from buy. PT up 2.1% to $40. +Keysight: Goldman Sachs downgrades to neutral from buy. PT up 6.2% to $189. +Masco: Deutsche Bank downgrades to sell from hold. PT down 15% to $43. +Motorola Solutions: Credit Suisse downgrades to neutral from outperform. PT up 2.9% to $270. +Oracle: Mizuho Securities initiated coverage with a recommendation of buy. PT up 34% to $116. +Pool Corp: Deutsche Bank upgrades to buy from hold. PT up 28% to $417. +Smith & Nephew: HSBC resumes coverage at buy targeting GBp 1300. +Watts Water: Deutsche Bank downgrades to hold from buy. PT down 1.9% to $150. + diff --git a/news/AAPL/2023.01.12/APPLE INC : UBS gives a Buy rating.txt b/news/AAPL/2023.01.12/APPLE INC : UBS gives a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..07b00904d8f54513d1f2c9ed8cc8484189941a18 --- /dev/null +++ b/news/AAPL/2023.01.12/APPLE INC : UBS gives a Buy rating.txt @@ -0,0 +1 @@ +Analyst David Vogt from UBS research considers the stock attractive and recommends it with a Buy rating. The target price remains set at USD 180. \ No newline at end of file diff --git a/news/AAPL/2023.01.12/Apple CEO Cook's pay more dependent on stock performance in 2023.txt b/news/AAPL/2023.01.12/Apple CEO Cook's pay more dependent on stock performance in 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..78b9d4c45c6e51575a08a104a5a705152940bba1 --- /dev/null +++ b/news/AAPL/2023.01.12/Apple CEO Cook's pay more dependent on stock performance in 2023.txt @@ -0,0 +1 @@ +Cook's compensation for the fiscal 2022 year ended September was $99.4 million, slightly higher than the $98.7 million he received the previous year, the company said in securities filings.For 2023, Cook's compensation target was set at $49 million, more than 40% lower than his 2022 pay. Apple made the changes after 64% of shareholders approved Cook's pay package at its annual meeting last year, down from 94.9% the previous year.The biggest change came in Cook's stock awards.For fiscal 2022, Apple granted him $75 million in stock awards, half of which were based on how well Apple's shares performed. For fiscal 2023, Cook's stock award target was reduced to $40 million, with $30 million of the total depending on share performance. If Apple's shares hit performance thresholds, the $30 million in performance awards could double to at least $60 million. (Reporting by Stephen Nellis, editing by Deepa Babington) \ No newline at end of file diff --git a/news/AAPL/2023.01.12/Apple's diversification strategy makes its first victims.txt b/news/AAPL/2023.01.12/Apple's diversification strategy makes its first victims.txt new file mode 100644 index 0000000000000000000000000000000000000000..2469cd8c8e2e1ea9f95718344ff9bff3443416d5 --- /dev/null +++ b/news/AAPL/2023.01.12/Apple's diversification strategy makes its first victims.txt @@ -0,0 +1,8 @@ + +Whether it is the Chinese subcontractor Foxconn or semiconductor manufacturers Intel, Broadcom or Qualcomm, all have suffered in recent months from the strategic changes of the iPhone maker. +Indeed, Bloomberg revealed on Monday that Apple wants to replace Broadcom's chips with an internal design by 2025. This is a tough pill to swallow for the San Jose-based group, whose 20% of revenues depend on the Cupertino firm, its biggest customer. The same goes for Qualcomm: Apple would like to replace its cellular chips with its own production by the end of 2024. As for Intel's chips, it's already partly done. Tim Cook's group has adopted its own range of semiconductors for its Mac computers. The idea behind this is to create more and more "home-made" electronic gadgets and to increase (even more) its already record margins (the operating margin is 30.3% in 2022). +The tech giant's choices have major consequences on its suppliers. Last autumn, the Taiwanese behemoth Foxconn took the full brunt of Apple's decision to entrust part of the Chinese production to Luxshare Precision. A kind of punishment after the protests that agitated the Foxconn factory during this period. In this little game, the big winner is obviously Apple, since putting subcontractors in competition allows it to lower prices. + + + +Drawing by Amandine Victor, for MarketScreener diff --git a/news/AAPL/2023.01.12/Global markets live: Tesco, T-Mobile, Apple, Roche, AbbVie....txt b/news/AAPL/2023.01.12/Global markets live: Tesco, T-Mobile, Apple, Roche, AbbVie....txt new file mode 100644 index 0000000000000000000000000000000000000000..2b5ff40928f1e0bdebf5a1975ed86729a6acc35f --- /dev/null +++ b/news/AAPL/2023.01.12/Global markets live: Tesco, T-Mobile, Apple, Roche, AbbVie....txt @@ -0,0 +1,28 @@ + +  +  +Corporate results: + +ASOS: Sales contracted 3% in the four months to the end of December. +Logitech: The Swiss company reduced its guidance for the 2022/2023 financial year. +Marks and Spencer: The British company reported an increase in sales over the Christmas period. +Persimmon: The UK's number two homebuilder warned of weak housing market conditions. +Taiwan Semiconductor: Fourth-quarter profit rises 78% and exceeds market expectations. +Tesco: The retailer maintains its profit forecast after strong Christmas sales. + +  +In other news: + +T-Mobile US is reportedly interested in a buyout of Mint Mobile, according to Bloomberg. +Mark Parker is set to become president of Walt Disney. The stock gained 1.3 percent in premarket trading after activist investor Nelson Peltz asked to join the entertainment company's board, which the company declined. +Apple is reportedly developing touchscreens for Macs, according to Bloomberg. +Roche is looking for an internal candidate to succeed the CEO of its pharma division. +Leclanché receives an order for battery systems for two hybrid ferries. +The new retail darling, Bed Bath & Beyond saw its shares surge 69% yesterday. +AbbVie, Abbott, Ashtead and Sage pay dividends. +Lottomatica (Apollo) is considering an IPO. +Alphabet's health sciences subsidiary, Verily Life Sciences, announced Wednesday that it had laid off more than 200 employees, or about 15 percent of its workforce. +Blackrock is cutting its workforce, up to 500 affected jobs, after several years of growth, a source close to the matter reported Wednesday. +AMD on Wednesday announced the appointment of Jean Hu, a senior executive at Marvell Technology, as chief financial officer. + +Main earnings reports today: Tesco, OMV, Persimmon, Taylor Wimpey, Marks and Spencer, DFDS, Bossard... All the agenda is here.  diff --git a/news/AAPL/2023.01.12/MarketScreener's World Press Review: January 12.txt b/news/AAPL/2023.01.12/MarketScreener's World Press Review: January 12.txt new file mode 100644 index 0000000000000000000000000000000000000000..01eb2105cb77e176b7b47a5d9f4d9dce3bf27f69 --- /dev/null +++ b/news/AAPL/2023.01.12/MarketScreener's World Press Review: January 12.txt @@ -0,0 +1,12 @@ + +Savills, Tesco, Marks and Spencer, Asos, Cellnex, Bertelsmann, Barnes & Noble, Disney, BlackRock, Marvell Technology, Advanced Micro Devices, Alcoa Corp, Ford, LG Energy Solution, SK Innovation, Amazon, Lenovo, Dell, Apple and Maruti Suzuki feature in this press review! + + + + +  + +  +  +  +  diff --git a/news/AAPL/2023.01.12/Porsche in talks to use Google software in cars.txt b/news/AAPL/2023.01.12/Porsche in talks to use Google software in cars.txt new file mode 100644 index 0000000000000000000000000000000000000000..ecae3e5cc21c30269e145cbebdd0a41826cd4e01 --- /dev/null +++ b/news/AAPL/2023.01.12/Porsche in talks to use Google software in cars.txt @@ -0,0 +1 @@ +A Reuters source says the luxury car maker may fully integrate the tech giant's software into its vehicles. That could let drivers use apps like Google Maps without connecting the car to an Android phone. Any such move would mark a big change for the brand. German media reports say Porsche had previously been reluctant to use Google software. They say it felt the U.S. company asked for too much data to be shared. Tech firms from Google to Apple and Amazon are in a race to control automakers' dashboards. That as software becomes an integral part of car design. Firms including General Motors, Renault and Ford already use Google systems in their vehicles. But others such as BMW are reluctant. It says it's vital to retain control of the customer's interface with its vehicles. Back in October, Porsche said it was talking to various tech firms besides Google. That included Apple and China's Tencent. The contacts followed a move to end cooperation with Volkswagen on software research and development. \ No newline at end of file diff --git a/news/AAPL/2023.01.12/TSMC Q4 profit up 78%, beats market expectations.txt b/news/AAPL/2023.01.12/TSMC Q4 profit up 78%, beats market expectations.txt new file mode 100644 index 0000000000000000000000000000000000000000..cb91a4a182ebe4025a6069391b96b1a14cd4169f --- /dev/null +++ b/news/AAPL/2023.01.12/TSMC Q4 profit up 78%, beats market expectations.txt @@ -0,0 +1 @@ +Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker and a major Apple Inc supplier, saw net profit for the October-December period rise to T$295.9 billion ($9.72 billion) from T$166.2 billion a year earlier.That compared with the T$289.44 billion average of 21 analyst estimates compiled by Refinitiv.($1 = 30.4420 Taiwan dollars) (Reporting by Yimou Lee and Sarah Wu; Writing by Ben Blanchard; Editing by Christopher Cushing) \ No newline at end of file diff --git a/news/AAPL/2023.01.13/Analysis-Tencent bets big on WeChat Channels in push to build its own TikTok.txt b/news/AAPL/2023.01.13/Analysis-Tencent bets big on WeChat Channels in push to build its own TikTok.txt new file mode 100644 index 0000000000000000000000000000000000000000..73b734246cf956b054d35d91d5c4bc5f256c88ff --- /dev/null +++ b/news/AAPL/2023.01.13/Analysis-Tencent bets big on WeChat Channels in push to build its own TikTok.txt @@ -0,0 +1 @@ +The show is just one of many events held by WeChat owner Tencent to promote the app's short-video platform - described by the tech giant's founder Pony Ma as "the hope of the company". Tencent Holdings Ltd has tapped other entertainers too like Taiwan's Jay Chou and Irish boy band Westlife for livestreamed concerts and, according to a source, has set up a team to build a community of content creators as it seeks to challenge the dominance of ByteDance, the owner of TikTok and Douyin, and Kuaishou in the short-video business."Tencent hopes it can turn Channels into the next WeChat Pay. It has a shot at it. But it is also going to be difficult," said Liao Xuhua, a senior analyst at research firm Analysys.WeChat Pay became the second-biggest player in China's mobile payment market within a year of its 2013 launch, behind Alipay which is owned by Jack Ma-founded Ant Group. Two sources familiar with Tencent said the importance of Channels has been repeatedly communicated within the company.The two-year old platform has been a bright spot for Tencent in an otherwise dismal 2022 when revenue for its other products, such as games and payment services, were slammed by tighter gaming regulations and strict COVID-19 curbs.The total number of views on Channels surged more than three-fold last year, Tencent said this week as it revealed its latest growth figures for the platform. Daily active creators and video uploads more than doubled.Gross merchandise value (GMV) from livestreaming e-commerce, where telegenic personalities hawk goods online in real time, jumped more than 800% on Channels, the company said. It did not disclose absolute figures.A LatePost report says Channels' daily transactions from livestreamed sales pitches reached more than 100 million yuan ($15 million) in September 2022 for the first time, indicating an annual rate of about 36 billion yuan. But Douyin was already aiming to bring its GMV to over 1 trillion yuan ($155 billion) in 2021, a six-fold jump from 2020 levels, sources said at the time. ByteDance does not publicly disclosee official GMV numbers.INTEGRATING PRODUCTS Tencent has been integrating many of its products, ranging from Tencent Meetings to WeChat Mini Program, with Channels to help creators livestream content just like the U.S. band Backstreet Boys.Tencent Meetings is a Zoom-like teleconference service while mini programs are like apps on Apple's iOS and Google's Android operating systems but less data intensive and run within WeChat.An integration would allow, for example, a podcast host to conduct an interview on Meetings and livestream it on Channels. If the host recommends a product during the chat, a link can pop up on the screen to take viewers to a Mini Program where they can buy the product using WeChat Pay. Tencent has also slashed the threshold for monetisation on Channels, allowing users with as few as 10 followers, versus 1,000 earlier, to start making money through advertisements.TikTok requires content creators to have more than 10,000 followers to start monetising.Channels has also opened up ad opportunities "like never before", said Li Yikai, general manager of Americas and EMEA at ad agency Nativex, versus WeChat that pushes a few ads a day. "When you are already scrolling and come across an ad, you don't think twice about it. So naturally you come across a lot more ads with short videos," Li said.In November, Tencent President Martin Lau said Channels' advertising revenue was on track to reach 1 billion yuan in the fourth quarter of 2022. For TikTok and Douyin, research firm Insider Intelligence estimated in April last year that ad revenues would together reach more than $30 billion for 2022.Channels has also started charging e-commerce merchants a 1% to 5% commission fee from this month. Douyin has been charging 1% to 10% since 2020.RIVALRYWhile some analysts see Channels as Tencent's best chance to catch up with ByteDance, others believe it will be tough for it to become as big as Douyin, the Chinese version of TikTok. "When you have to start from being a social network app and then enter into the short-video space, you have to build up a whole e-commerce system to support it ... I won't say they can't get there but it's very difficult," Analysys' Liao said.But Shawn Yang, managing director at research group Blue Lotus Capital Advisors, is bullish on Channels given the potential of WeChat's traffic. WeChat, China's most popular chat app, has more than a billion active users."For example, in Douyin or Kuaishou, you won't be able to ask your viewers to add you on WeChat. But on Channels, you can quickly add somebody on WeChat," Yang said. "This is very beneficial to those who already have their own private traffic on WeChat," he said.($1 = 6.7348 Chinese yuan) (Reporting by Josh Ye; Editing by Brenda Goh and Himani Sarkar)By Josh Ye \ No newline at end of file diff --git a/news/AAPL/2023.01.13/Apple CEO Tim Cook takes 40% pay cut.txt b/news/AAPL/2023.01.13/Apple CEO Tim Cook takes 40% pay cut.txt new file mode 100644 index 0000000000000000000000000000000000000000..faa665a2767936c222013f66c5027514473aed46 --- /dev/null +++ b/news/AAPL/2023.01.13/Apple CEO Tim Cook takes 40% pay cut.txt @@ -0,0 +1 @@ +Apple CEO Tim Cook has agreed to accept a 40% pay cut this year after investors turned sour on his annual compensation package that reached nearly $100 million in 2022.Cook still stands to make a lot of money in incentives as the Big Tech giant rides a wave of success from the worldwide popularity of the iPhone and its other digital products.A December vote revealed shareholders had grown increasingly dissatisfied with Cook's pay, which led the billionaire to request a lower salary in recent weeks.Under the revised pay structure, Cook will make $49 million in 2023, down from $84 million the previous year, according to a filing with the Securities and Exchange Commission.Apple's chief executive, who took over for Steve Jobs in 2011, earned a total of $99.4 million in 2022, mostly from incentives made off the resilience of the company's stock -- which is the major factor used to determine Cook's pay.Cook's 2022 salary was calculated to be 1,177 times higher than the average Apple employee salary of $84,493.Moving forward, 75% of Cook's vesting shares will be linked to Apple's stock performance, up from 50%, the company said.A breakdown of Cook's income in the federal filing shows he made just under $83 million in stock awards, $12 million in incentives and $3 million in salary.He also receives a lavish benefits package that includes a personal security detail, private plane, a generous 401K contribution match, plus more than $46,000 at his disposal in a vacation spending account.The company's compensation board said it moved on Cook's salary in response to last year's say-on-pay vote, in which support for Cook's salary plunged by more than 30%. Two years ago, 95% of shareholders approved of Cook's pay, compared to only 64% last year.In recent months, the tech industry has come under increasing pressure from institutional investors to scale back on executive salaries. At Apple's annual meeting last year, shareholders were advised by expert analysts to vote against Cook's pay package.From there, Apple's compensation board -- made up of Art Levinson, Al Gore and Andrea Jung -- asked institutional shareholders how they felt about Cook's pay."Based on these important conversations, we have made changes to the size and structure of Tim's 2023 compensation," the committee wrote, while suggesting other changes could be down the road."Taking into consideration Apple's comparative size, scope and performance, the Compensation Committee also intends to position Mr. Cook's annual target compensation between the 80th and 90th percentiles relative to our primary peer group for future years," the committee said.Still, Cook was still praised for his performance over the past year, with the company's board expressing confidence in the CEO's long-term strategic goals.Apple, which consistently ranks among the most lucrative companies in the world, has seen a colossal expansion under Cook's leadership. In 2022, Apple saw its market capitalization rise above $3 trillion. Although company shares have since fallen by as much as 27%, the stock was still trading at an incredible return of 1,212%.Depending on how shares perform this year, Cook's income might soar again, but his payday is not likely to be as big after the tech giant dialed back his annual stock equity award.That incentive allowed Cook to cash in on a much bigger salary in 2022, but this year he is capped from making more than about $75 million, according to documents filed with the government.The company also made cuts to the number of restricted stock units that Cook could take with him if he retires early.Cook has been paid a $6 million bonus on top of a $3 million annual base salary since 2016, and is estimated by Forbes to be worth about $1.7 billion.In September 2020, Cook received a stock grant that would have paid him 1 million shares worth $114 million through 2025 if the company hit all its financial targets. A similar stock option given to Cook in 2011 reached a full value of $900 million in 2020.Copyright 2023 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News \ No newline at end of file diff --git a/news/AAPL/2023.01.13/Apple CEO Tim Cook to take more than 40% pay cut.txt b/news/AAPL/2023.01.13/Apple CEO Tim Cook to take more than 40% pay cut.txt new file mode 100644 index 0000000000000000000000000000000000000000..d1e571167f518a3438ddcf4ecbdbfc2802149ea5 --- /dev/null +++ b/news/AAPL/2023.01.13/Apple CEO Tim Cook to take more than 40% pay cut.txt @@ -0,0 +1 @@ +Apple CEO Tim Cook will take a more than 40% pay cut this year from a year earlier as the company adjusts how it calculates his compensation partly based on a recommendation from Cook himself.Apple Inc. said in a regulatory filing late Thursday that Cook's target total compensation is $49 million for 2023, with a $3 million salary, $6 million cash incentive and $40 million in equity awards.Last March the Cupertino, California, company conducted an advisory shareholder vote on executive pay with 6.21 billion shares voting in favor of the executive pay package and 3.44 billion against. There were also abstentions and broker non-votes.Apple said its compensation committee took into account shareholder feedback, the company's performance and a recommendation from Cook, who was promoted to CEO in 2011, to adjust his compensation in light of the feedback received.Apple said last year it sought feedback from shareholders about compensation and it received “overwhelming support for Mr. Cook’s exceptional leadership and the unprecedented value he has delivered for shareholders....Those shareholders we spoke with that did not support our 2022 Say on Pay proposal consistently cited the size and structure of the 2021 and 2022 equity awards granted to Mr. Cook as the primary reason for their voting decision,” the company said.Cook has received a $3 million base salary for the past three years, but his total compensation — which includes the restricted awards — jumped from $14.8 million in 2020 to $98.7 million in 2021 and $99.4 million in 2022.Apple said Cook supported the changes to his compensation.The company plans to position Cook’s annual target compensation between the 80th and 90th percentiles relative to its primary peer group for future years, according to the filing.The company will hold its annual meeting March 10.In midday trading, Apple shares edged down to $133. The stock has declined about 23% in the past year.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AAPL/2023.01.13/Exclusive-Chinese EV maker BYD to build Vietnam component plant - sources.txt b/news/AAPL/2023.01.13/Exclusive-Chinese EV maker BYD to build Vietnam component plant - sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..a6194796e1a32516fe14043eaea0b76a694c314e --- /dev/null +++ b/news/AAPL/2023.01.13/Exclusive-Chinese EV maker BYD to build Vietnam component plant - sources.txt @@ -0,0 +1 @@ +The investment in northern Vietnam would exceed $250 million, one of the people said, expanding parent BYD Co's presence in Vietnam, where its electronic unit produces solar panels.The move underscores a wider trend by manufacturers to reduce their exposure to China amid trade tensions with the United States and production disruptions caused by Beijing's previous COVID-19 lockdowns.BYD declined to comment.The Xian-based carmaker, which outsold rival Tesla Inc in EVs by more than two to one in China last year, has been expanding elsewhere in Asia, including Singapore and Japan, and Europe. Backed by Warren Buffett's Berkshire Hathaway, BYD makes both plug-in hybrids and pure electric vehicles. Like Tesla, BYD controls much of its supply chain, including battery production, a strategy that sets it apart from established automakers.The company announced in September it would build an EV assembly plant in Thailand with annual capacity of 150,000 cars from 2024.By investing in Vietnam, BYD is looking to add capacity, control costs and diversify production from its operations in China, where demand has been strong. Talks are underway to select a site for the Vietnam plant, said the sources, who declined to be named because the discussions are confidential. One said construction was planned to start by mid-year.DOUBLING FOOTPRINTIt was not immediately clear what components BYD would build in Vietnam and whether it would include batteries or battery packs.BYD's planned investment and a $400 million project by digital display maker BOE reported by Reuters this week would equal more than a quarter of the $2.5 billion Chinese companies invested in Vietnam all of last year.U.S. corporations such as Apple Inc and their suppliers, such as Taiwan's Foxconn and China's Luxshare, have also been seeking alternative production hubs, with neighbouring Vietnam one of the main options.BYD is looking to lease 80 hectares (200 acres) of industrial land, more than doubling its footprint in Vietnam, where its electronic unit rents 60 hectares, a second source said.The Vietnam plant will export components to the assembly plant to be built in Thailand, one source said. The operation in Vietnam could also serve the local market, mostly through maintenance services and spare parts for BYD vehicles imported from China, one source said.That would pose a direct challenge to VinFast, a Vietnamese EV maker that began selling cars in 2019 and plans to expand in the United States and Europe.In December the U.S. Commerce Department found that units of BYD and other Chinese companies were circumventing decade-old U.S. tariffs on Chinese solar cells and panels.If finalised in May, that finding would mean those companies would be subject to duties on products made in Vietnam and some other Southeast Asian countries. (Reporting by Phuong Nguyen and Francesco Guarascio in Hanoi; Additional reporting by Zoey Zhang; Editing by William Mallard)By Phuong Nguyen and Francesco Guarascio \ No newline at end of file diff --git a/news/AAPL/2023.01.13/Justice Department official cleared to oversee Google probes -source.txt b/news/AAPL/2023.01.13/Justice Department official cleared to oversee Google probes -source.txt new file mode 100644 index 0000000000000000000000000000000000000000..e5a5fa898fce1fb67091485efb95b8bdaeeef695 --- /dev/null +++ b/news/AAPL/2023.01.13/Justice Department official cleared to oversee Google probes -source.txt @@ -0,0 +1 @@ +The Wall Street Journal earlier reported the decision to allow Jonathan Kanter, assistant attorney general in charge of antitrust, to oversee matters involving the search engine and advertising company.The Justice Department and Google declined to comment on Friday.In November 2021, Google asked the Justice Department to consider requiring Kanter to recuse himself because of his work for a long list of Google critics like Yelp Inc, which Alphabet described as "vociferously advocating for an antitrust case against Google for years."Bloomberg News reported in May that Kanter had been barred from working on Google investigations as the department considered whether he was required to be recused.On Wednesday, Google argued a U.S. judge should toss out a Justice Department antitrust lawsuit against it, saying agreements it made with Apple Inc and others to make Google the default search engine do not bar smartphone makers from promoting rivals.The case is set to go to trial in September. If Google loses, it could be forced to spin off key assets.In December, Google asked a court to throw out both the antitrust case that the Justice Department filed in 2020 along with 11 states as well as a related complaint brought by 35 states led by Colorado.The Justice Department's October 2020 lawsuit alleges Google violated antitrust law in how it maintained dominance in search and search advertising. For example, it pointed to billions of dollars that Google paid annually to Apple, LG Electronics Inc and others to ensure Google search was the default on their devices.Google faces additional allegations of antitrust violations from dozens of states. The lawsuit filed by Colorado and others, which was also filed in 2020, also alleges that Google illegally limits rivals' ability to operate its Search Ads 360 tool, used by advertisers to manage online marketing campaigns. (Reporting by David Shepardson in Washington; Editing by Matthew Lewis)By David Shepardson \ No newline at end of file diff --git a/news/AAPL/2023.01.13/MarketScreener's World Press Review: January 13 .txt b/news/AAPL/2023.01.13/MarketScreener's World Press Review: January 13 .txt new file mode 100644 index 0000000000000000000000000000000000000000..030fb1675bd7039fe684f486b6b6b38230129b87 --- /dev/null +++ b/news/AAPL/2023.01.13/MarketScreener's World Press Review: January 13 .txt @@ -0,0 +1,11 @@ + +Vodafone, Taylor Wimpey, 888, Ubisoft, Carlyle, Apple, Warner Bros Discovery, Tesla, ConocoPhillips, Visa, MasterCard & American Express, Southwest Airlines, Cognizant technology, Tencent, Alibaba, Didi Global, Boeing & China Southern Airlines feature in this press review! + + + + +  +< +  +  +  diff --git a/news/AAPL/2023.01.13/Porsche to ensure familiar software is available for customers, spokesperson says.txt b/news/AAPL/2023.01.13/Porsche to ensure familiar software is available for customers, spokesperson says.txt new file mode 100644 index 0000000000000000000000000000000000000000..2d03c9c4092fa13eba915169436f1dc697fc5e0c --- /dev/null +++ b/news/AAPL/2023.01.13/Porsche to ensure familiar software is available for customers, spokesperson says.txt @@ -0,0 +1 @@ +The luxury carmaker declined to comment on whether it was currently in talks with Google over a deal to incorporate Google applications like Google Maps and Google Assistant into their vehicles.A source close to the company told Reuters on Thursday discussions were underway, marking a shift in strategy for the newly listed carmaker which previously had been reluctant to use Google software. (Reporting by Ilona Wissenbach, Writing by Victoria Waldersee, Editing by Rachel More) \ No newline at end of file diff --git a/news/AAPL/2023.01.16/Apple supplier Foxconn replaces iPhone business chief- Bloomberg News.txt b/news/AAPL/2023.01.16/Apple supplier Foxconn replaces iPhone business chief- Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..6ee804ed041b8ded500069a43e629edbdf6fb020 --- /dev/null +++ b/news/AAPL/2023.01.16/Apple supplier Foxconn replaces iPhone business chief- Bloomberg News.txt @@ -0,0 +1 @@ +Chiang replaces longtime leader Wang Charng-yang as head of the iPhone assembly division, the report added.Foxconn declined to comment. Apple did not immediately respond to a request for comment. (Reporting by Lavanya Ahire in Bengaluru; Editing by Dhanya Ann Thoppil) \ No newline at end of file diff --git a/news/AAPL/2023.01.16/Investor Ryan Cohen builds Alibaba stake, wants more share buybacks.txt b/news/AAPL/2023.01.16/Investor Ryan Cohen builds Alibaba stake, wants more share buybacks.txt new file mode 100644 index 0000000000000000000000000000000000000000..a0e72cddaeb07ba4f64ca009e26e03ac72de9947 --- /dev/null +++ b/news/AAPL/2023.01.16/Investor Ryan Cohen builds Alibaba stake, wants more share buybacks.txt @@ -0,0 +1,65 @@ +Jan 16 (Reuters) - Billionaire investor Ryan Cohen has +built a stake in China's Alibaba Group worth hundreds +of millions of dollars and is pushing the e-commerce giant to +increase and speed up share buybacks, people familiar with the +matter said on Monday.Cohen, who built his fortune by co-founding online pet +retailer Chewy Inc and cemented it with investments in +videogame retailer GameStop and Apple Inc, +reached out to Alibaba last August to express concerns, the +people said.In his communications, Cohen told Alibaba he thought the +company could reach double-digit sales growth and nearly 20% +free cashflow growth over the coming five years, according to +the sources.Cohen felt Alibaba's shares were undervalued at the time, +according to the people, who declined to be identified because +the investment is private.Alibaba in November raised the size of its share repurchase +program to $40 billion, increasing it by $15 billion, and said +it would extend the time frame for the program through the end +of March 2025.Cohen has told Alibaba executives that more can be done, +suggesting the total buyback program could be raised to $60 +billion, the people familiar with his communications said.Alibaba's ADRs, traded in the United States, exchanged +hands at $115.45 on Tuesday, up 28% since early August and up +25% so far this year. The price, however, remains far off its +high of more than $300 a share hit during the COVID-19 pandemic.Most Alibaba investors hold American Depository Shares, +which require them to use a depositary as an intermediary if +they want to cast their votes at shareholder meetings. In its +latest annual report, Alibaba acknowledges that many +shareholders don't cast their vote as a result of the arduous +process involved, and this "can make it more difficult for +shareholders to influence our management."The people familiar with Cohen's thinking said the investor +is eager to have a collaborative, long-term relationship with +Alibaba and that he has praised management's capabilities.Alibaba representatives were not immediately available +for comment.The company's shares began an ongoing tumble in late October +2020, just as authorities in Beijing began a regulatory +crackdown on the tech sector. The company lost about a third of +its value by November 2022, though in recent weeks shares have +recovered amid signs the Chinese government will ease its +pressure on internet companies.Over roughly the same period, Alibaba has steadily escalated +its share buyback program. It first announced the scheme at the +end of 2020, pledging to buy back $10 billion over a two-year +period.The Wall Street Journal first reported Cohen's Alibaba +stake.The Chinese e-commerce company could find a blueprint in +how Apple has helped its own stock price as it repurchased +shares, the people said. Cohen owns a stake in Apple worth +roughly $800 million, they said.As well as cutting the supply of shares available, +supporting their prices, buybacks - often recommended by +activist investors - can send a signal to the market that +executives are confident about how high their companies' shares +might be able to climb.Canada-born Cohen, 37, has a net worth estimated at $2.5 +billion. He made a splash in the investing world two years ago +when he joined the board of GameStop, igniting a frenzy in the +stock price that turned the video retailer into a "meme stock" +backed by retail investors.He eventually forced out GameStop management and set out +to revamp it into an e-commerce company.GameStop's shares, which underwent a stock split in 2022, +are up 19% this year, though they are off 25% in the last 52 +weeks.Last year Cohen briefly invested in retailer Bed Bath & +Beyond Inc and pushed for the company to consider +selling its BuyBuy Baby chain or possibly the entire company. He +settled with the company and three new directors joined the +board.Much of Cohen's net worth is tied up in a handful of +stocks including Wells Fargo & Co, Citigroup Inc +and Netflix Inc. He also has real estate holdings and +cash.Cohen has said previously that he wants to find more +undervalued companies to invest with and identify those that can +be managed better and push them to adopt changes.(Svea Herbst-Bayliss in New York; Additional reporting by Greg +Roumeliotis in New York, Miyoung Kim in Beijing and Aishwarya +Nair in Bengaluru; Editing by Leslie Adler and Kenneth Maxwell) \ No newline at end of file diff --git a/news/AAPL/2023.01.16/Taiwan Q4 GDP seen growing 1.3% as cooling tech demand weighs.txt b/news/AAPL/2023.01.16/Taiwan Q4 GDP seen growing 1.3% as cooling tech demand weighs.txt new file mode 100644 index 0000000000000000000000000000000000000000..c74ea400c92565ca6ceb4a06fd5ccf2817f9a893 --- /dev/null +++ b/news/AAPL/2023.01.16/Taiwan Q4 GDP seen growing 1.3% as cooling tech demand weighs.txt @@ -0,0 +1 @@ +Gross domestic product (GDP) likely grew just 1.3% in October-December versus a year earlier, the poll of 20 economists shows, after it expanded 4.01% year-on-year in the third quarter.Policymakers have said they expect full-year 2022 growth of around or less than 3%, slower than the 6.45% logged for 2021. That was the fastest rate in over a decade since it expanded 10.25% in 2010.Economists' forecasts for preliminary GDP data due on Wednesday varied widely from a contraction of 0.1% to growth of 3.5%.GDP last year peaked in the second and third quarters, with the fourth quarter hit by weakening electronics demand, and also coming off a high base, First Capital Management analyst Chengyu Liu said. "Recent economic data released by the United States is also weak," Liu added. "It is expected that Taiwan's GDP in the first and second quarters of this year will not be good, with growth in the first quarter only 1.1%."Demand for Taiwanese goods has been hit by COVID-19 controls and outbreaks in China, as well as soaring global inflation and tightening monetary policy.The economy in China, Taiwan's largest trading partner, expanded 2.9% in the fourth quarter year-on-year, and 3.0% for the full year of 2022, badly missing the official target of "around 5.5%".Taiwan's exports fell for a fourth straight month in December. Exports dropped 12.1% by value last month from a year earlier to $35.75 billion, the lowest level in 20 months.Taiwan is a key hub in the global technology supply chain for giants such as Apple Inc, and home to the world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd (TSMC).Taiwan's preliminary figures will be released in a statement with minimal commentary. Revised figures will be released a few weeks later, with more details and forward-looking forecasts. (Poll compiled by Madhumita Gokhale, Susobhan Sarkar and Carol Lee; Reporting by Ben Blanchard; Additional reporting by Roger Tung; Editing by Rashmi Aich) \ No newline at end of file diff --git a/news/AAPL/2023.01.17/Apple Unveils M2 Pro And M2 Max : next-generation chips for next-level workflows.txt b/news/AAPL/2023.01.17/Apple Unveils M2 Pro And M2 Max : next-generation chips for next-level workflows.txt new file mode 100644 index 0000000000000000000000000000000000000000..3c55fc84f99ee70b2592496945ddeb61aab9735d --- /dev/null +++ b/news/AAPL/2023.01.17/Apple Unveils M2 Pro And M2 Max : next-generation chips for next-level workflows.txt @@ -0,0 +1,45 @@ + +Apple® today announced M2 Pro and M2 Max, two next-generation SoCs (systems on a chip) that take the breakthrough power-efficient performance of Apple silicon to new heights. M2 Pro scales up the architecture of M2 to deliver an up to 12-core CPU and up to 19-core GPU, together with up to 32GB of fast unified memory. M2 Max builds on the capabilities of M2 Pro, including an up to 38-core GPU, double the unified memory bandwidth, and up to 96GB of unified memory. Its industry-leading performance per watt makes it the world’s most powerful and power-efficient chip for a pro laptop. Both chips also feature enhanced custom technologies, including a faster 16-core Neural Engine and Apple’s powerful media engine. M2 Pro brings pro performance to Mac mini® for the first time, while M2 Pro and M2 Max take the game-changing performance and capabilities of the 14-inch and 16-inch MacBook Pro® even further. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230117005535/en/M2 Pro and M2 Max are next-generation chips that take the breakthrough power-efficient performance of Apple silicon to new heights. (Graphic: Business Wire) +“Only Apple is building SoCs like M2 Pro and M2 Max. They deliver incredible pro performance along with industry-leading power efficiency,” said Johny Srouji, Apple’s senior vice president of Hardware Technologies. “With an even more powerful CPU and GPU, support for a larger unified memory system, and an advanced media engine, M2 Pro and M2 Max represent astonishing advancements in Apple silicon.” + +M2 Pro: Next-Generation Performance for Pro Workflows + +Built using a second-generation 5-nanometer process technology, M2 Pro consists of 40 billion transistors — nearly 20 percent more than M1 Pro, and double the amount in M2. It features 200GB/s of unified memory bandwidth — twice that of M2 — and up to 32GB of low-latency unified memory. The next-generation 10- or 12-core CPU consists of up to eight high-performance cores and four high-efficiency cores, resulting in multithreaded CPU performance that is up to 20 percent faster than the 10-core CPU in M1 Pro. Apps like Adobe Photoshop run heavy workloads faster than ever, and compiling in Xcode® is up to 2.5x faster than on the fastest Intel-based MacBook Pro.1 + +The GPU in M2 Pro can be configured with up to 19 cores — three more than the GPU in M1 Pro — and includes a larger L2 cache. Graphics speeds are up to 30 percent faster than that of M1 Pro, resulting in huge increases in image processing performance and enabling console-quality gaming. + +M2 Max: The World’s Most Powerful and Efficient Chip for a Pro Laptop + +With 67 billion transistors — 10 billion more than M1 Max and more than 3x that of M2 — M2 Max pushes the performance and capabilities of Apple silicon even further. Its 400GB/s of unified memory bandwidth is twice that of M2 Pro, 4x that of M2, and supports up to 96GB of fast unified memory. So massive files open instantaneously, and working across multiple pro apps is incredibly quick and fluid. + +M2 Max features the same next-generation 12-core CPU as M2 Pro. The GPU is even more powerful with up to 38 cores, and is paired with a larger L2 cache. Graphics speeds climb up to 30 percent faster than M1 Max. Along with 96GB of memory, the new MacBook Pro with M2 Max can tackle graphics-intensive projects that competing systems can’t even run.2 From powering visual effects, to training machine learning models, to stitching together gigapixel images, MacBook Pro with M2 Max brings incredible performance whether plugged in or running on battery power. M2 Max is the world’s most powerful and efficient chip for a pro laptop. + +Extending Capabilities with Custom Technologies + +M2 Pro and M2 Max feature updated custom technologies: + +macOS Ventura with M2 Pro and M2 Max + +macOS® has been designed for Apple silicon, and the combination of macOS Ventura and industry-leading new chips delivers unbeatable performance and productivity for users. Mac® computers powered with Apple silicon have access to more than 15,000 native apps and plug-ins that unlock the full power of M-series chips. + +macOS Ventura brings new features including Stage Manager™, and new capabilities with Continuity Camera and Handoff® in FaceTime®. macOS Ventura also includes big updates to Safari®, Mail, Messages, Spotlight®, and more, all of which are more responsive and run efficiently on M2 Pro and M2 Max. + +Apple Silicon and the Environment + +M2 Pro and M2 Max help the new MacBook Pro and Mac mini meet Apple’s high standards for energy efficiency. The power-efficient performance of Apple silicon helps the new MacBook Pro achieve the longest battery life ever in a Mac — up to 22 hours.3 This results in less time needing to be plugged in and less energy consumed over its lifetime. + +Today, Apple is carbon neutral for global corporate operations, and by 2030, plans to have net-zero climate impact across the entire business, which includes manufacturing supply chains and all product life cycles. This means that every chip Apple creates, from design to manufacturing, will be 100 percent carbon neutral. + +Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it. + +1 Results are compared to previous-generation 2.4GHz 8-core Intel Core i9-based 16-inch MacBook Pro systems with Radeon Pro 5600M graphics with 8GB HBM2, 64GB of RAM, and 8TB SSD. + +2 Testing was conducted by Apple in November and December 2022 using preproduction 16-inch MacBook Pro systems with Apple M2 Max, 12-core CPU, 38-core GPU, 96GB of RAM, and 8TB SSD, as well as a production Intel Core i9-based PC system with NVIDIA Quadro RTX 6000 graphics with 24GB GDDR6 and the latest version of Windows 11 Pro available at the time of testing, and a production Intel Core i9-based PC system with NVIDIA GeForce RTX 3080 Ti graphics with 16GB GDDR6 and the latest version of Windows 11 Home available at the time of testing. OTOY Octane X 2022.1 on preproduction 16-inch MacBook Pro systems and OTOY OctaneRender 2022.1 on Windows systems were tested using a scene that requires over 40GB of graphics memory when rendered. Performance tests are conducted using specific computer systems and reflect the approximate performance of MacBook Pro. + +3 Testing was conducted by Apple in November and December 2022 using preproduction 16-inch MacBook Pro systems with Apple M2 Pro, 12-core CPU, 19-core GPU, 16GB of RAM, and 1TB SSD. The Apple TV app movie playback test measures battery life by playing back HD 1080p content with display brightness set to eight clicks from the bottom. Battery life varies by use and configuration. See apple.com/batteries for more information. + +NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or call Apple’s Media Helpline at (408) 974-2042. + +© 2023 Apple Inc. All rights reserved. Apple, the Apple logo, Mac mini, MacBook Pro, Xcode, ProRes, macOS, Mac, Stage Manager, Handoff, FaceTime, Safari, and Spotlight are trademarks of Apple. Other company and product names may be trademarks of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005535/en/ \ No newline at end of file diff --git a/news/AAPL/2023.01.17/Apple indefinitely postpones launch of AR glasses - Bloomberg News.txt b/news/AAPL/2023.01.17/Apple indefinitely postpones launch of AR glasses - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..d7d019a900c0b42a6d96e2ef3f828290225dba1b --- /dev/null +++ b/news/AAPL/2023.01.17/Apple indefinitely postpones launch of AR glasses - Bloomberg News.txt @@ -0,0 +1 @@ +The iPhone maker's mixed-reality headset - which combines both augmented and virtual reality - is set to launch in this year's spring event, Bloomberg said, adding that the device will cost around $3,000.Apple's mixed-reality device would compete with the likes of Meta Platforms' Quest Pro virtual and mixed-reality headset, which it launched late last year for $1,500, half of the Apple device's reported price.The Cupertino, California-based company now plans to focus on lowering the price of the follow-up version of its mixed-reality device, expected as soon as 2024 or early 2025, instead of working on the AR glasses, according to the report.Apple will aim to do so by using chips on par with those in the iPhone rather than components found in higher-end Mac computers.Apple did not immediately respond to a Reuters request for comment.The Information website first reported Apple's plans to unveil a cheaper mixed-reality headset on Tuesday.earlier in the day, the iPhone maker unveiled MacBooks powered by its new and faster M2 Pro and M2 Max chips in a surprise launch weeks ahead of its usual schedule. (Reporting by Kanjyik Ghosh and Shubham Kalia in Bengaluru; Editing by Janane Venkatraman) \ No newline at end of file diff --git "a/news/AAPL/2023.01.17/Apple introduces new Mac mini with M2 and M2 Pro \342\200\224 more powerful, capable, and ve...txt" "b/news/AAPL/2023.01.17/Apple introduces new Mac mini with M2 and M2 Pro \342\200\224 more powerful, capable, and ve...txt" new file mode 100644 index 0000000000000000000000000000000000000000..1dd9b6aeb4e926e12729fc08691074efbc8c94e4 --- /dev/null +++ "b/news/AAPL/2023.01.17/Apple introduces new Mac mini with M2 and M2 Pro \342\200\224 more powerful, capable, and ve...txt" @@ -0,0 +1,65 @@ + +Apple® today unveiled the new Mac mini®, supercharged by M2 and the all-new M2 Pro. With the M2 chip, Mac mini is even more powerful, capable, and affordable with a new starting price of just $599. The new M2 Pro chip delivers pro-level performance to Mac mini for the first time, enabling users to run high-performance workflows that were previously unimaginable in such a compact design. Mac mini with M2 and M2 Pro delivers faster performance, even more unified memory, and advanced connectivity, including support for up to two displays on the M2 model, and up to three displays on the M2 Pro model. Paired with Studio Display and Magic accessories, along with the power and ease of macOS® Ventura, Mac mini provides a phenomenal desktop experience that will take users’ productivity and creativity to the next level. Customers can order the new Mac mini models today, with availability beginning Tuesday, January 24. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230117005534/en/With M2 and the all-new M2 Pro, Mac mini features faster performance and incredible connectivity, while delivering even more value. (Photo: Business Wire) +“With incredible capabilities and a wide array of connectivity in its compact design, Mac mini is used in so many places, in so many different ways. Today, we’re excited to take it even further with M2 and M2 Pro,” said Greg Joswiak, Apple’s senior vice president of Worldwide Marketing. “Bringing even more performance and a lower starting price, Mac mini with M2 is a tremendous value. And for users who need powerful pro performance, Mac mini with M2 Pro is unlike any other desktop in its class.” + +Even More Performance with M2 and M2 Pro + +Compared to the previous-generation Mac mini, M2 and M2 Pro bring a faster next-generation CPU and GPU, much higher memory bandwidth, and a more powerful media engine to Mac mini, delivering extraordinary performance and industry-leading power efficiency. Both models feature an advanced thermal system for exceptional sustained performance. + +Mac mini with M2 + +Mac mini with M2 features an 8-core CPU with four high-performance and four high-efficiency cores, along with a 10-core GPU — perfect for users looking for superfast performance and incredible productivity at an even more affordable starting price of $599. Everyday tasks are blazing fast — from launching and multitasking between apps to browsing the web. For users with more intensive tasks, Mac mini with M2 also powers through even more demanding workloads. With up to 24GB of unified memory and 100GB/s of bandwidth, activities like image editing in Adobe Photoshop are up to 50 percent faster1 than the previous generation. M2 also adds ProRes® acceleration to Mac mini, so tasks like video editing in Final Cut Pro® are more than twice as fast.1 The M2 model can also simultaneously play up to two streams of 8K ProRes 422 video at 30 fps, or up to 12 streams of 4K ProRes 422 video at 30 fps. With all this performance, Mac mini is up to 5x faster than the bestselling Windows desktop,2 delivering incredible value to first-time computer buyers, upgraders, and PC switchers. + +When compared to the Mac mini with Intel Core i7,3 Mac mini with M2 offers: + +When compared to the previous-generation Mac mini with M1,1 Mac mini with M2 delivers: + +Mac mini with M2 Pro + +M2 Pro brings pro-level performance to Mac mini for the first time. Featuring up to a 12-core CPU with eight high-performance cores and four high-efficiency cores, along with up to a 19-core GPU, M2 Pro has 200GB/s of memory bandwidth — double the amount in M2 — and supports up to 32GB of memory. The next-generation Neural Engine is 40 percent faster than M1, speeding up ML tasks like video analysis and image processing. Designed to dramatically accelerate video playback and encoding while using very little power, M2 Pro offers a powerful media engine, which speeds through the most popular video codecs and can simultaneously play up to five streams of 8K ProRes 422 video at 30 fps, or up to 23 streams of 4K ProRes 422 video at 30 fps. The M2 Pro-powered model is up to 14x faster than the fastest Intel-based Mac mini.3 + +When compared to the 27-inch iMac® with Intel Core i7 and Radeon Pro 5500 XT,4 Mac mini with M2 Pro offers: + +When compared to the previous-generation M1 Mac mini,1 Mac mini with M2 Pro delivers: + +With M2 Pro, Mac mini users can run high-performance workflows that were previously inconceivable in such a compact form factor. Musicians can produce music with incredibly powerful plug-ins and effects without missing a beat, while photographers can adjust huge images in an instant. Creators can seamlessly work in multicam with multiple camera formats, including ProRes video, and gamers can play demanding titles in console quality. Gaming performance is up to 15x faster than the fastest Intel-based Mac mini.3 + +Advanced Connectivity + +Mac mini continues to deliver extensive connectivity with a wide range of ports. The M2 model features two Thunderbolt 4 ports and support for up to two displays. The M2 Pro model includes four Thunderbolt 4 ports and support for up to three displays. Additionally, the M2 Pro model can support one 8K display, a first for the Mac®. Both models feature two USB-A ports, an HDMI port, a Gigabit Ethernet port with a 10GB option, and an upgraded headphone jack to support high-impedance headphones. For wireless connectivity, both new models also feature the latest standards with Wi-Fi 6E5 for up to 2x faster throughput than before, as well as Bluetooth 5.3. + +A Phenomenal Desktop Experience with Studio Display and Magic Accessories + +Paired with Studio Display and Magic accessories, Mac mini delivers a phenomenal desktop experience. Studio Display completes the full Mac desktop setup experience with its expansive 27-inch 5K Retina display, 12MP Ultra Wide camera with Center Stage™, studio-quality three-mic array, and six-speaker sound system with Spatial Audio. Customers can add matching Magic accessories that complement the elegant design of Mac mini and Studio Display. + +macOS Ventura + +With macOS Ventura, Mac mini delivers even more performance and productivity. Powerful updates like Continuity Camera bring videoconferencing features to any Mac, including Desk View, Center Stage, Studio Light, and more. Handoff® in FaceTime® allows users to start a FaceTime call on their iPhone® or iPad® and fluidly pass it over to their Mac, or vice versa. And tools like Stage Manager automatically organize apps and windows, so users can concentrate on the task at hand and still see everything in a single glance. + +Messages and Mail are better than ever, while Safari® — the world’s fastest browser on Mac — ushers in a passwordless future with passkeys. With iCloud® Shared Photo Library, users can now create and share a separate photo library among up to six family members, and the new Freeform app provides a flexible canvas that helps users be more productive and expressive, whether they are planning or brainstorming on their own, or with others. With the power and popularity of Apple silicon, and new developer tools in Metal® 3, gaming on Mac has never been better. + +Mac mini and the Environment + +Mac mini is designed to minimize its impact on the environment, including 100 percent of the following recycled materials: aluminum in the enclosure, rare earth elements in all magnets, tin in the solder of the main logic board, and gold in the plating of multiple printed circuit boards. It also features 35 percent or more recycled plastic in multiple components and meets Apple’s high standards for energy efficiency. It is free of numerous harmful substances, and 96 percent of the packaging is fiber based, bringing Apple closer to its goal of completely removing plastic from its packaging by 2025. + +Today, Apple is carbon neutral for global corporate operations, and by 2030, plans to be 100 percent carbon neutral across the entire manufacturing supply chain and all product life cycles. This means that every Apple device sold, from component manufacturing, assembly, transport, customer use, charging, all the way through recycling and material recovery, will have net-zero climate impact. + +Pricing and Availability + +Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it. + +1 Results are compared to previous-generation Mac mini systems with Apple M1, 8-core CPU, 8-core GPU, 16GB of RAM, and 2TB SSD. + +2 Testing was conducted by Apple in November and December 2022 using preproduction Mac mini systems with Apple M2, 8-core CPU, 10-core GPU, 8GB of RAM, and 256GB SSD, as well as production Intel Core i5-based PC systems with Intel UHD Graphics 730 and the latest version of Windows 11 available at the time of testing. The bestselling system is based on publicly available sales data over the prior 12 months. Performance tests are conducted using specific computer systems and reflect the approximate performance of Mac mini. + +3 Results are compared to previous-generation 3.2GHz 6-core Intel Core i7-based Mac mini systems with Intel UHD Graphics 630, 64GB of RAM, and 2TB SSD. + +4 Results are compared to previous-generation 3.8GHz 8-core Intel Core i7-based 27-inch iMac systems with AMD Radeon Pro 5500 XT with 8GB of GDDR6, 8GB of RAM, and 512GB SSD. + +5 Wi‑Fi 6E is not available in China mainland. It requires macOS 13.2 or later in Japan. + +NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or call Apple’s Media Helpline at (408) 974-2042. + +© 2023 Apple Inc. All rights reserved. Apple, the Apple logo, Mac mini, macOS, ProRes, Final Cut Pro, iMac, Mac, Center Stage, Handoff, FaceTime, iPhone, iPad, Safari, iCloud, Metal, Apple Store, and AppleCare+ are trademarks of Apple. Other company and product names may be trademarks of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005534/en/ \ No newline at end of file diff --git a/news/AAPL/2023.01.17/Apple launches new macbooks, Mac mini in rare January launch.txt b/news/AAPL/2023.01.17/Apple launches new macbooks, Mac mini in rare January launch.txt new file mode 100644 index 0000000000000000000000000000000000000000..5bdf9f48b6d54432724bf2d9802b4ece8fd6de40 --- /dev/null +++ b/news/AAPL/2023.01.17/Apple launches new macbooks, Mac mini in rare January launch.txt @@ -0,0 +1 @@ +The rare announcement comes months ahead of the company's traditional spring event, when Apple launches its iMacs and accessories. (Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AAPL/2023.01.17/Apple unveils MacBook Pro featuring M2 Pro and M2 Max, with more game-changing performa...txt b/news/AAPL/2023.01.17/Apple unveils MacBook Pro featuring M2 Pro and M2 Max, with more game-changing performa...txt new file mode 100644 index 0000000000000000000000000000000000000000..20dfe018102688a6cf65a6c96a8b37007a38b942 --- /dev/null +++ b/news/AAPL/2023.01.17/Apple unveils MacBook Pro featuring M2 Pro and M2 Max, with more game-changing performa...txt @@ -0,0 +1,48 @@ + +Apple® today announced the new 14- and 16-inch MacBook Pro® featuring M2 Pro and M2 Max, Apple’s next-generation pro silicon that brings even more power-efficient performance and battery life to pro users. With M2 Pro and M2 Max — the world’s most powerful and efficient chip for a pro laptop — MacBook Pro tackles demanding tasks, like effects rendering, which is up to 6x faster than the fastest Intel-based MacBook Pro, and color grading, which is up to 2x faster.1 Building on the unprecedented power efficiency of Apple silicon, battery life on MacBook Pro is now up to 22 hours — the longest battery life ever in a Mac.2 For enhanced connectivity, the new MacBook Pro supports Wi-Fi 6E,3 which is up to twice as fast as the previous generation, as well as advanced HDMI, which supports 8K displays for the first time. With up to 96GB of unified memory in the M2 Max model, creators can work on scenes so large that PC laptops can’t even run them.4 Rounding out the unrivaled features of MacBook Pro are its renowned Liquid Retina® XDR display, extensive array of connectivity, 1080p FaceTime® HD camera, six-speaker sound system, and studio-quality mics. When combined with macOS® Ventura, the MacBook Pro user experience is unrivaled. Customers can order the new 14- and 16-inch MacBook Pro today, with availability beginning Tuesday, January 24. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230117005533/en/Today Apple introduced the new MacBook Pro with M2 Pro and M2 Max. Available in 16- and 14-inch models, MacBook Pro delivers more performance, advanced connectivity, and the longest battery life ever in a Mac. (Photo: Business Wire) +“MacBook Pro with Apple silicon has been a game changer, empowering pros to push the limits of their workflows while on the go and do things they never thought possible on a laptop,” said Greg Joswiak, Apple’s senior vice president of Worldwide Marketing. “Today the MacBook Pro gets even better. With faster performance, enhanced connectivity, and the longest battery life ever in a Mac, along with the best display in a laptop, there’s simply nothing else like it.” + +Unrivaled Power-Efficient Performance with M2 Pro and M2 Max + +With M2 Pro and M2 Max, MacBook Pro is capable of transforming pro workflows across a wide range of disciplines, from art to science to app development. Users looking to upgrade from Intel-based Mac® models will experience even more dramatic improvements in performance, battery life, connectivity, and overall productivity. MacBook Pro also maintains its incredible level of performance whether users are plugged in or on battery. + +MacBook Pro with M2 Pro features a 10- or 12-core CPU with up to eight high-performance and four high-efficiency cores for up to 20 percent greater performance over M1 Pro. With 200GB/s of unified memory bandwidth — double the amount in M2 — and up to 32GB of unified memory, users can tackle large projects and run multiple pro apps with blazing speed. A next-generation GPU with up to 19 cores delivers up to 30 percent more graphics performance, and the Neural Engine is 40 percent faster, speeding up machine learning tasks like video analysis and image processing. The powerful media engine in M2 Pro also tears through the most popular video codecs, dramatically accelerating video playback and encoding while using very little power. + +With M2 Pro on MacBook Pro: + +MacBook Pro with M2 Max pushes workflows to the extreme with a much larger GPU featuring up to 38 cores and delivering up to 30 percent greater graphics performance over M1 Max, and also includes 400GB/s of unified memory bandwidth — twice that of M2 Pro. With up to 96GB of unified memory, MacBook Pro once again pushes the limits of graphics memory in a laptop to enable intensive graphics workloads, such as creating scenes with extreme 3D geometry and textures, or merging massive photographic panoramas. M2 Max has a next-gen 12-core CPU with up to eight high-performance and four high-efficiency cores that delivers up to 20 percent greater performance over M1 Max, and a more powerful media engine than M2 Pro, with twice the ProRes® acceleration to dramatically speed up media playback and transcoding. + +With M2 Max on MacBook Pro: + +Enhanced Connectivity + +MacBook Pro now features Wi-Fi 6E3 for faster wireless connectivity, as well as more advanced HDMI, to support 8K displays up to 60Hz and 4K displays up to 240Hz. These new capabilities build on the versatile connectivity options already in MacBook Pro, including three Thunderbolt 4 ports for high-speed connection to peripherals, an SDXC card slot, and MagSafe® 3 charging. + +macOS Ventura + +With macOS Ventura, MacBook Pro delivers even more performance and productivity. Powerful updates like Continuity Camera bring videoconferencing features to any Mac, including Desk View, Center Stage®, Studio Light, and more. Handoff® in FaceTime allows users to start a FaceTime call on their iPhone® or iPad® and fluidly pass it over to their Mac, or vice versa. And tools like Stage Manager automatically organize apps and windows, so users can concentrate on the task at hand and still see everything in a single glance. + +Messages and Mail are better than ever, while Safari® — the world’s fastest browser on Mac — ushers in a passwordless future with passkeys. With iCloud® Shared Photo Library, users can now create and share a separate photo library among up to six family members, and the new Freeform app provides a flexible canvas that helps users be more productive and expressive, whether they are planning or brainstorming on their own, or together with others. With the power and popularity of Apple silicon, and new developer tools in Metal® 3, gaming on Mac has never been better. + +MacBook Pro and the Environment + +MacBook Pro is designed to minimize its impact on the environment, including 100 percent of the following recycled materials: aluminum in the enclosure, rare earth elements in all magnets, tin in the solder of the main logic board, and gold in the plating of multiple printed circuit boards. It also features 35 percent or more recycled plastic in multiple components, and meets Apple’s high standards for energy efficiency. MacBook Pro is free of numerous harmful substances, and 97 percent of the packaging is fiber based, bringing Apple closer to its goal of completely removing plastic from its packaging by 2025. + +Today, Apple is carbon neutral for global corporate operations, and by 2030, plans to be 100 percent carbon neutral across the entire manufacturing supply chain and all product life cycles. This means that every Apple device sold, from component manufacturing, assembly, transport, customer use, charging, all the way to recycling and material recovery, will have net-zero climate impact. + +Pricing and Availability + +Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it. + +1 Results are compared to previous-generation 2.4GHz 8-core Intel Core i9-based 16-inch MacBook Pro systems with Radeon Pro 5600M graphics with 8GB HBM2, 64GB of RAM, and 8TB SSD. +2 Testing conducted by Apple in November and December 2022 using preproduction 16-inch MacBook Pro systems with Apple M2 Pro, 12-core CPU, 19-core GPU, 16GB of RAM, and 1TB SSD. The Apple TV® app movie playback test measures battery life by playing back HD 1080p content with display brightness set to eight clicks from bottom. Battery life varies by use and configuration. See apple.com/batteries for more information. +3 Wi‑Fi 6E is not available in China mainland. It requires macOS 13.2 or later in Japan. +4 Testing was conducted by Apple in November and December 2022 using preproduction 16-inch MacBook Pro systems with Apple M2 Max, 12-core CPU, 38-core GPU, 96GB of RAM, and 8TB SSD, as well as a production Intel Core i9-based PC system with NVIDIA Quadro RTX 6000 graphics with 24GB GDDR6 and the latest version of Windows 11 Pro available at the time of testing, and a production Intel Core i9-based PC system with NVIDIA GeForce RTX 3080 Ti graphics with 16GB GDDR6 and the latest version of Windows 11 Home available at the time of testing. OTOY Octane X 2022.1 on preproduction 16-inch MacBook Pro systems and OTOY OctaneRender 2022.1 on Windows systems were tested using a scene that requires over 40GB of graphics memory when rendered. Performance tests are conducted using specific computer systems and reflect the approximate performance of MacBook Pro. +5 Results are compared to previous-generation 16-inch MacBook Pro systems with Apple M1 Pro, 10-core CPU, 16-core GPU, 32GB of RAM, and 8TB SSD. +6 Results are compared to previous-generation 16-inch MacBook Pro systems with Apple M1 Max, 10-core CPU, 32-core GPU, 64GB of RAM, and 8TB SSD. + +NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or call Apple’s Media Helpline at (408) 974-2042. + +© 2023 Apple Inc. All rights reserved. Apple, the Apple logo, MacBook Pro, Liquid Retina, FaceTime, macOS, Mac, Motion, Xcode, ProRes, MagSafe, Center Stage, Handoff, iPhone, iPad, Safari, iCloud, Metal, Apple Store, and AppleCare+ are trademarks of Apple. Other company and product names may be trademarks of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005533/en/ \ No newline at end of file diff --git a/news/AAPL/2023.01.17/China economy sees slowest growth in decades over 2022.txt b/news/AAPL/2023.01.17/China economy sees slowest growth in decades over 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..2a36769a10adf33d9506e558013fd35ed053e5a2 --- /dev/null +++ b/news/AAPL/2023.01.17/China economy sees slowest growth in decades over 2022.txt @@ -0,0 +1 @@ +(Alliance News) - China's economy grew 3.0% in 2022, official data released on Tuesday showed, one of the weakest rates in 40 years owing to the Covid-19 pandemic and a real estate crisis.Beijing had set itself a target of 5.5%, a rate already much lower than the performance of 2021, when the country's GDP increased more than eight percent.In the fourth quarter, China's economy grew 2.9% year-on-year, compared with 3.9% in the third quarter, the National Bureau of Statistics said.The world's second-largest economy faced historic headwinds as 2022 drew to a close, with exports plunging last month due to a drop in global demand and rigid health restrictions that hammered economic activity.Tuesday's figures represent China's worst growth figures since a 1.6 contraction in 1976 – the year Mao Zedong died – and excluding 2020, after the coronavirus emerged in Wuhan in late 2019.China's economic woes last year sent reverberations across a global supply chain already struggling with waning demand.Strict lockdowns, quarantines and compulsory mass testing prompted the abrupt closures of manufacturing facilities and businesses in major hubs – like Zhengzhou, home of the world's biggest iPhone factory.Beijing abruptly loosened pandemic restrictions in early December in the wake of some of its biggest protests in years.The World Bank has forecast China's GDP will rebound to 4.3% for 2023 – still below expectations.source: AFPCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AAPL/2023.01.17/Davos 2023: Colombia pushes LatAm corporate tax accord.txt b/news/AAPL/2023.01.17/Davos 2023: Colombia pushes LatAm corporate tax accord.txt new file mode 100644 index 0000000000000000000000000000000000000000..ce0f03b724d1b03c09c80cec56dbd8090dfe8d94 --- /dev/null +++ b/news/AAPL/2023.01.17/Davos 2023: Colombia pushes LatAm corporate tax accord.txt @@ -0,0 +1 @@ +Paris-based think tank Organisation for Economic Cooperation and Development in 2021 rallied some 140 countries to support a revamp of cross-border tax rules to take better account of the emergence of big digital companies, such as Apple and Amazon that can book profits in low-tax countries.Ocampo said the OECD-brokered deal, which is expected to take effect in 2024, did not adequately reflect the interests of many developing economies."The idea is to have a mechanism of real cooperation that will go over what we consider the frustrating results of the OECD negotiations of a couple of years ago," Ocampo told Reuters on the sidelines of the World Economic Forum annual meeting."Only very large multinationals were captured by that regulation, which is too limited. And there is still a bias in favour of (countries that host) the headquarters of multinationals," he said in Davos.Ocampo said he was approaching Brazil and Chile initially with the proposal, and planned to discuss it with Mexico. The goal was to have a finance minister-level meeting of interested countries in July. (Reporting by Mark John in Davos; Editing by Alexander Smith) \ No newline at end of file diff --git a/news/AAPL/2023.01.17/Russian anti-monopoly agency fines Apple $17 million - TASS.txt b/news/AAPL/2023.01.17/Russian anti-monopoly agency fines Apple $17 million - TASS.txt new file mode 100644 index 0000000000000000000000000000000000000000..f1c85d0298acfcbc0784b02fe4f2d7152b34f3b2 --- /dev/null +++ b/news/AAPL/2023.01.17/Russian anti-monopoly agency fines Apple $17 million - TASS.txt @@ -0,0 +1 @@ +In a statement, the regulator said it had previously found that Apple forced Russian developers to use Apple's payment services with the iOS App Store, in violation of Russia's competition rules.It said Apple must pay the fine within two months.($1 - 69.04 roubles) (Reporting by Reuters; Editing by Frank Jack Daniel) \ No newline at end of file diff --git a/news/AAPL/2023.01.17/Tesla video promoting self-driving was staged, engineer testifies.txt b/news/AAPL/2023.01.17/Tesla video promoting self-driving was staged, engineer testifies.txt new file mode 100644 index 0000000000000000000000000000000000000000..fb2292a9621490d0cab94bc1328b2df3b6af3fae --- /dev/null +++ b/news/AAPL/2023.01.17/Tesla video promoting self-driving was staged, engineer testifies.txt @@ -0,0 +1 @@ +The video, which remains archived on Tesla's website, was released in October 2016 and promoted on Twitter by Chief Executive Elon Musk as evidence that "Tesla drives itself." But the Model X was not driving itself with technology Tesla had deployed, Ashok Elluswamy, director of Autopilot software at Tesla, said in the transcript of a July deposition taken as evidence in a lawsuit against Tesla for a 2018 fatal crash involving a former Apple engineer.The previously unreported testimony by Elluswamy represents the first time a Tesla employee has confirmed and detailed how the video was produced.The video carries a tagline saying: "The person in the driver's seat is only there for legal reasons. He is not doing anything. The car is driving itself." Elluswamy said Tesla's Autopilot team set out to engineer and record a "demonstration of the system's capabilities" at the request of Musk.Elluswamy, Musk and Tesla did not respond to a request for comment. However, the company has warned drivers that they must keep their hands on the wheel and maintain control of their vehicles while using Autopilot. The Tesla technology is designed to assist with steering, braking, speed and lane changes but its features "do not make the vehicle autonomous," the company says on its website. To create the video, the Tesla used 3D mapping on a predetermined route from a house in Menlo Park, California, to Tesla's then-headquarters in Palo Alto, he said. Drivers intervened to take control in test runs, he said. When trying to show the Model X could park itself with no driver, a test car crashed into a fence in Tesla's parking lot, he said."The intent of the video was not to accurately portray what was available for customers in 2016. It was to portray what was possible to build into the system," Elluswamy said, according to a transcript of his testimony seen by Reuters.When Tesla released the video, Musk tweeted, "Tesla drives itself (no human input at all) thru urban streets to highway to streets, then finds a parking spot."Tesla faces lawsuits and regulatory scrutiny over its driver assistance systems. The U.S. Department of Justice began a criminal investigation into Tesla's claims that its electric vehicles can drive themselves in 2021, after a number of crashes, some of them fatal, involving Autopilot, Reuters has reported.The New York Times reported in 2021 that Tesla engineers had created the 2016 video to promote Autopilot without disclosing that the route had been mapped in advance or that a car had crashed in trying to complete the shoot, citing anonymous sources.When asked if the 2016 video showed the performance of the Tesla Autopilot system available in a production car at the time, Elluswamy said, "It does not." Elluswamy was deposed in a lawsuit against Tesla over a 2018 crash in Mountain View, California, that killed Apple engineer Walter Huang. Andrew McDevitt, the lawyer who represents Huang's wife and who questioned Elluswamy's in July, told Reuters it was "obviously misleading to feature that video without any disclaimer or asterisk." The National Transportation Safety Board concluded in 2020 that Huang's fatal crash was likely caused by his distraction and the limitations of Autopilot. It said Tesla's "ineffective monitoring of driver engagement" had contributed to the crash.Elluswamy said drivers could "fool the system," making a Tesla system believe that they were paying attention based on feedback from the steering wheel when they were not. But he said he saw no safety issue with Autopilot if drivers were paying attention. (Reporting by Hyunjoo Jin; Editing by Kevin Krolicki and Lisa Shumaker)By Hyunjoo Jin \ No newline at end of file diff --git a/news/AAPL/2023.01.17/U.S. Supreme Court asks for govt views on blockbuster Apple|Caltech patent dispute.txt b/news/AAPL/2023.01.17/U.S. Supreme Court asks for govt views on blockbuster Apple|Caltech patent dispute.txt new file mode 100644 index 0000000000000000000000000000000000000000..e6cf9c247175b52428a35c8b28067cb44bb726bc --- /dev/null +++ b/news/AAPL/2023.01.17/U.S. Supreme Court asks for govt views on blockbuster Apple|Caltech patent dispute.txt @@ -0,0 +1 @@ +The justices asked for the U.S. Solicitor General's input on a lower court decision that prevented Apple and Broadcom from arguing the patents were invalid at trial.Representatives for the parties did not immediately respond to requests for comment.Caltech, located in Pasadena, California, sued Cupertino-based Apple and San Jose-based Broadcom in 2016 in federal court in Los Angeles, alleging that millions of iPhones, iPads, Apple Watches and other devices with Broadcom Wi-Fi chips infringed its data-transmission patents. A jury ruled for Caltech, ordering Apple to pay $837.8 million and Broadcom to pay $270.2 million. The U.S. Court of Appeals for the Federal Circuit took issue with the amount of the award and sent the case back for a new trial on damages, which is set to begin in June.Apple and Broadcom also told the Federal Circuit that they should have been allowed to challenge the patents' validity at trial. The patent-focused appeals court upheld the trial judge's decision to block the companies from making the arguments because they could have raised them in their petitions for U.S. Patent and Trademark Office review of the patents.The companies appealed that decision to the Supreme Court last September. They told the justices that the Federal Circuit misread the law, which they said only bars arguments that could have been raised during the review itself, not in the petition.Caltech has also sued Microsoft Corp, Samsung Electronics Co, Dell Technologies Inc and HP Inc, accusing them of infringing the same patents in separate cases that are still pending.Apple is a major purchaser of Broadcom chips, and in January 2020 reached a $15 billion supply agreement with the company. Apple reportedly plans to replace Broadcom's chips with an in-house design in 2025.Broadcom has estimated that 20% of its revenue comes from Apple.The case is Apple Inc v. California Institute of Technology, U.S. Supreme Court, No. 22-203.For Apple and Broadcom: Bill Lee of Wilmer Cutler Pickering Hale & DorrFor Caltech: Kathleen Sullivan of Quinn Emanuel Urquhart & Sullivan Read more:Apple, Broadcom win new trial in $1.1 bln Caltech patent caseCalTech wins $1.1 billion jury verdict in patent case against Apple, BroadcomBy Blake Brittain \ No newline at end of file diff --git a/news/AAPL/2023.01.18/Apple : celebrates Black History Month with Unity Collection and exclusive content.txt b/news/AAPL/2023.01.18/Apple : celebrates Black History Month with Unity Collection and exclusive content.txt new file mode 100644 index 0000000000000000000000000000000000000000..001f3b3b50d8210be440aac994c2ed50f950db89 --- /dev/null +++ b/news/AAPL/2023.01.18/Apple : celebrates Black History Month with Unity Collection and exclusive content.txt @@ -0,0 +1,488 @@ + + + +UPDATEJanuary 18, 2023 + + + + In celebration of Black History Month, Apple releases new Black Unity collection and content + + + + + Apple launches new ways to celebrate Black History Month through its products and services. + + + + Apple commemorates Black History Month with exclusive content and curated launches celebrating Black culture and community. Starting today, customers can show their support with this year's Black Unity Collection, which includes a special-edition Apple Watch Black Unity Sport Loop, alongside a new matching watch face and iPhone wallpaper. Beginning in February, all-new activations - including a series of Apple Maps Guides created by the Smithsonian, TV and film collections curated by Dr. Jelani Cobb, and more will be available to explore. Additionally, through its Racial Equity and Justice Initiative (REJI), Apple is expanding its support of five organizations focused on uplifting Black and Brown communities by unlocking creative potential through technology. + + +Apple Watch and iPhone + + + Members of Apple's Black creative community and allies came together to develop this year's Black Unity Collection and designed the new expressions inspired by the creative process of mosaic, celebrating the vibrancy of Black communities and the power of unity. + + + + + +The Unity Mosaic watch face is shown. + + +The Unity Challenge is shown on Apple Watch. + + +A green, black, and red icon shows three linked hands. + + +The Unity logo is shown. + + +The Unity fist icon is shown. + + +The Unity heart icon is shown. + + + + + The Unity Mosaic watch face incorporates geometric shapes in green, black, red, and yellow, and the yellow accent can be personalized with other colors. + + + Throughout February, Apple Watch users can participate in the Unity Challenge and earn a limited-edition award by closing their Move ring seven days in a row. + + + Throughout February, Apple Watch users can participate in the Unity Challenge and earn a limited-edition award by closing their Move ring seven days in a row. + + + Throughout February, Apple Watch users can participate in the Unity Challenge and earn a limited-edition award by closing their Move ring seven days in a row. + + + Throughout February, Apple Watch users can participate in the Unity Challenge and earn a limited-edition award by closing their Move ring seven days in a row. + + + Throughout February, Apple Watch users can participate in the Unity Challenge and earn a limited-edition award by closing their Move ring seven days in a row. + + + + +previous + + +next + + + + + The Black Unity Sport Loop features the word "Unity" woven abstractly into the band using red, green, and black yarns that pay homage to the Pan-African flag, while a unique layering of yarns lends a sense of three-dimensionality to the letters. Additionally, the Unity Mosaic watch face incorporates geometric shapes in green, black, red, and yellow, and as the minutes change, each number uses pieces of other numbers to morph into new forms. iPhone users can also show their support with the new Unity wallpaper for their Lock Screen. + + + The Apple Watch Black Unity Sport Loop, watch face, and iPhone wallpaper are inspired by the creative process of mosaic, the vibrancy of Black communities, and the power of unity. + + + Apple is supporting Art Gallery of New South Wales (Sydney), Ghetto Film School (New York, Los Angeles, London), Music Forward (Los Angeles), Shout Mouse Press (Washington, D.C.), and The National Museum of African American Music (Nashville, Tennessee). Apple's support for these organizations is a continuation of REJI grants over the past two years that helped organizations committed to providing economic, educational, and creative opportunities in communities of color. + + + The Black Unity Sport Loop features the word "Unity" woven abstractly into the band using red, green, and black yarns that pay homage to the Pan-African flag, and woven side by side, the red and green yarns create the illusion of the color yellow. + + + +App Store + + + The App Store will spotlight apps and games forging creative solutions for Black communities in areas such as music, banking, and gaming. Among these apps and games are Dot's Home, a 2022 App Store Award-winning game designed to educate users on housing disparities experienced in communities of color and financial wellness apps such as Goalsetter, Altro, and CapWay that are empowering the community with financial resources. The App Store will also celebrate 50 years of hip-hop culture by spotlighting numerous apps that allow users to listen, watch, and learn the significance of this creative movement in both the past and present. + + + + Users can visit the App Store to discover apps and games forging creative solutions for Black communities - including Dot's Home, a 2022 App Store Award-winning game designed to educate users on housing disparities experienced in communities of color. + + + +Apple Music + + + Apple Music will underscore the innumerable ways that Black artists have contributed to music and culture through healing, improvisation, reinvention, and so much more across all genres. The For Us, By Us playlist will be updated to capture expressions of resilience and resistance, and users can also enjoy new episodes of The Message and additional radio programming on Apple Music 1, Country, and HITS. + + + + +Apple TV App + + + Viewers can visit the Apple TV app to explore series and films curated by Dr. Jelani Cobb, dean of the Columbia University School of Journalism and a staff writer at The New Yorker. The theme of this year's collections is "The Matter of Black Lives," focusing on stories that illustrate three specific pillars: "Freedom in Black," "Love in Spite Of," and "The Mosaic." + + + + On the Apple TV app, users can watch series and films curated by Dr. Jelani Cobb, dean of the Columbia University School of Journalism and a staff writer at The New Yorker. The theme of this year's collections is "The Matter of Black Lives." + + + +Apple Fitness+ + + + Apple Fitness+ will share new workouts featuring playlists celebrating Black artists, as well as a new meditation dedicated to Black History Month led by Fitness+ trainer JoAnna Hardy. On January 30, Fitness+ will release a new episode of Time to Walk - an audio experience with some of the world's most inspiring people - featuring legendary singer Patti LaBelle. On this walk, LaBelle talks about her famous cooking and the powerful role her late sister played in her life. That same day, Time to Run, an audio running experience featuring playlists and coaching designed to help users become more consistent and better runners, will introduce a new episode with Fitness+ trainer Cory Wharton-Malcolm, celebrating Black History Month with a run through South LA and songs from the artists who helped put West Coast hip-hop on the map. + + + + Users can enjoy a new episode of Time to Walk featuring "the godmother of soul," Patti LaBelle, beginning on January 30. + + + +Apple News + + + Throughout the month, Apple News will highlight compelling articles, interviews, and audio stories about the Black experience in America, including perspectives and analysis from top journalists. Curated collections will showcase stories from Black-led newsrooms, including Capital B, Essence, NewsOne, Howard University's The Hilltop, and more. + + + + + +TKTK + + +TKTK + + +TKTK + + +TKTK + + + + + Readers and listeners can explore curated collections, compelling stories, and expert reporting from top journalists and Black-led newsrooms in Apple News. + + + Readers and listeners can explore curated collections, compelling stories, and expert reporting from top journalists and Black-led newsrooms in Apple News. + + + Readers and listeners can explore curated collections, compelling stories, and expert reporting from top journalists and Black-led newsrooms in Apple News. + + + Readers and listeners can explore curated collections, compelling stories, and expert reporting from top journalists and Black-led newsrooms in Apple News. + + + + +previous + + +next + + + + + +Apple Podcasts + + + Every day, listeners open Apple Podcasts to hear from the world's most inspiring and influential voices. And each year, Apple's collections honoring Black History Month help listeners discover creators offering essential historical context and insightful perspectives on news and culture. Beginning February 1, Apple Podcasts will spotlight shows that embody the omnipresence of Blackness - the ways that Black music, media, spaces, and theory positively influence our understanding of the world and one another - from creators Bridget Todd, Bob the Drag Queen, Monét X Change, and Apple Music's Ebro Darden.Listeners will also be able to explore a bespoke selection of podcast recommendations curated by Black disruptors - visionaries in their fields who resist the status quo to share beautiful art and innovation - such as environmental activist Leah Thomas. + + + + + +The Vibe Check podcast is shown in Apple Podcasts. + + +Ebro Darden's The Message podcast is shown in Apple Podcasts. + + + + + Listeners can look forward to new episodes of the popular pop culture podcast Vibe Check, hosted by Saeed Jones, Zach Stafford, and Sam Sanders, who also hosts another pop culture podcast, Into It, from Vulture. + + + Apple Podcasts invites listeners to discover new shows that embody the omnipresence of Blackness, including The Message with Apple Music's Ebro Darden, featuring intimate conversations with Jon Batiste, Erykah Badu, Jon Stewart, Nikole Hannah-Jones, Common, Vince Staples, and more. + + + + +previous + + +next + + + + + +Apple Books + + + During Black History Month, Apple Books will showcase its Read More Black Authorscollection, connecting readers and listeners with great books and audiobooks across different genres. + + + + On Apple Books, readers and listeners can enjoy diverse perspectives across a variety of genres through its Read More Black Authors collection of books and audiobooks. + + + +Apple Maps + + + The Smithsonian created a series of Guides in Apple Maps to spotlight key landmarks in the struggle for civil rights over the past century (1900-1957, 1960-1978, 1980-2020). Users can explore the Guides to learn more about the events, people, and places that have shaped the nation's history. + + + + + +Apple Maps is shown on iPhone 14 Pro. + + +Apple Maps is shown on iPhone 14 Pro. + + +Apple Maps is shown on iPhone 14 Pro. + + + + + Apple Maps invites users to explore key civil rights landmarks through Guides created by the Smithsonian. + + + Apple Maps invites users to explore key civil rights landmarks through Guides created by the Smithsonian. + + + Apple Maps invites users to explore key civil rights landmarks through Guides created by the Smithsonian. + + + + +previous + + +next + + + + + +Pricing and Availability + + + + + The Black Unity Sport Loop is available for order on apple.com and in the Apple Store app today, and will be available in select Apple Store locations beginning January 24 for $49 (US). + + + The Black Unity Sport Loop is available in 41mm and 45mm sizes, and is compatible with Apple Watch SE, Apple Watch Series 4 or newer, and Apple Watch Ultra (45mm band only). + + + The Unity 2023 watch face will be available next week, and requires Apple Watch Series 4 or later running watchOS 9.3, and iPhone 8 or later and iPhone SE (2nd generation) or later running iOS 16.3. + + + The new Unity iPhone wallpaper for the Lock Screen will be also be available next week and requires iPhone 8 or later running iOS 16.3. + + + Apple Watch Black Unity Sport Loop packaging, Apple Store locations, and the Apple Store app will feature App Clip functionality for customers to easily download the matching Unity watch face, or customers can download from apple.com. + + + + + + Share article + + + + + + + Text of this article + + + + + January 18, 2023 + + + UPDATE + + + In celebration of Black History Month, Apple releases new Black Unity collection and content + + + Apple commemorates Black History Month with exclusive content and curated launches celebrating Black culture and community. Starting today, customers can show their support with this year's Black Unity Collection, which includes a special-edition Apple Watch Black Unity Sport Loop, alongside a new matching watch face and iPhone wallpaper. Beginning in February, all-new activations - including a series of Apple Maps Guides created by the Smithsonian, TV and film collections curated by Dr. Jelani Cobb, and more will be available to explore. Additionally, through its Racial Equity and Justice Initiative (REJI), Apple is expanding its support of five organizations focused on uplifting Black and Brown communities by unlocking creative potential through technology. + + +Apple Watch and iPhone + + + Members of Apple's Black creative community and allies came together to develop this year's Black Unity Collection and designed the new expressions inspired by the creative process of mosaic, celebrating the vibrancy of Black communities and the power of unity. + + + The Black Unity Sport Loop features the word "Unity" woven abstractly into the band using red, green, and black yarns that pay homage to the Pan-African flag, while a unique layering of yarns lends a sense of three-dimensionality to the letters. Additionally, the Unity Mosaic watch face incorporates geometric shapes in green, black, red, and yellow, and as the minutes change, each number uses pieces of other numbers to morph into new forms. iPhone users can also show their support with the new Unity wallpaper for their Lock Screen. + + + Apple is supporting Art Gallery of New South Wales (Sydney), Ghetto Film School (New York, Los Angeles, London), Music Forward (Los Angeles), Shout Mouse Press (Washington, D.C.), and The National Museum of African American Music (Nashville, Tennessee). Apple's support for these organizations is a continuation of REJI grants over the past two years that helped organizations committed to providing economic, educational, and creative opportunities in communities of color. + + +App Store + + + The App Store will spotlight apps and games forging creative solutions for Black communities in areas such as music, banking, and gaming. Among these apps and games are Dot's Home, a 2022 App Store Award-winning game designed to educate users on housing disparities experienced in communities of color and financial wellness apps such as Goalsetter, Altro, and CapWay that are empowering the community with financial resources. The App Store will also celebrate 50 years of hip-hop culture by spotlighting numerous apps that allow users to listen, watch, and learn the significance of this creative movement in both the past and present. + + +Apple Music + + + Apple Music will underscore the innumerable ways that Black artists have contributed to music and culture through healing, improvisation, reinvention, and so much more across all genres. The For Us, By Us playlist will be updated to capture expressions of resilience and resistance, and users can also enjoy new episodes of The Message and additional radio programming on Apple Music 1, Country, and HITS. + + +Apple TV App + + + Viewers can visit the Apple TV app to explore series and films curated by Dr. Jelani Cobb, dean of the Columbia University School of Journalism and a staff writer at The New Yorker. The theme of this year's collections is "The Matter of Black Lives," focusing on stories that illustrate three specific pillars: "Freedom in Black," "Love in Spite Of," and "The Mosaic." + + +Apple Fitness+ + + + Apple Fitness+ will share new workouts featuring playlists celebrating Black artists, as well as a new meditation dedicated to Black History Month led by Fitness+ trainer JoAnna Hardy. On January 30, Fitness+ will release a new episode of Time to Walk - an audio experience with some of the world's most inspiring people - featuring legendary singer Patti LaBelle. On this walk, LaBelle talks about her famous cooking and the powerful role her late sister played in her life. That same day, Time to Run, an audio running experience featuring playlists and coaching designed to help users become more consistent and better runners, will introduce a new episode with Fitness+ trainer Cory Wharton-Malcolm, celebrating Black History Month with a run through South LA and songs from the artists who helped put West Coast hip-hop on the map. + + +Apple News + + + Throughout the month, Apple News will highlight compelling articles, interviews, and audio stories about the Black experience in America, including perspectives and analysis from top journalists. Curated collections will showcase stories from Black-led newsrooms, including Capital B, Essence, NewsOne, Howard University's The Hilltop, and more. + + +Apple Podcasts + + + Every day, listeners open Apple Podcasts to hear from the world's most inspiring and influential voices. And each year, Apple's collections honoring Black History Month help listeners discover creators offering essential historical context and insightful perspectives on news and culture. Beginning February 1, Apple Podcasts will spotlight shows that embody the omnipresence of Blackness - the ways that Black music, media, spaces, and theory positively influence our understanding of the world and one another - from creators Bridget Todd, Bob the Drag Queen, Monét X Change, and Apple Music's Ebro Darden.Listeners will also be able to explore a bespoke selection of podcast recommendations curated by Black disruptors - visionaries in their fields who resist the status quo to share beautiful art and innovation - such as environmental activist Leah Thomas. + + +Apple Books + + + During Black History Month, Apple Books will showcase its Read More Black Authorscollection, connecting readers and listeners with great books and audiobooks across different genres. + + +Apple Maps + + + The Smithsonian created a series of Guides in Apple Maps to spotlight key landmarks in the struggle for civil rights over the past century (1900-1957, 1960-1978, 1980-2020). Users can explore the Guides to learn more about the events, people, and places that have shaped the nation's history. + + +Pricing and Availability + + + + The Black Unity Sport Loop is available for order on apple.com and in the Apple Store app today, and will be available in select Apple Store locations beginning January 24 for $49 (US). + + + The Black Unity Sport Loop is available in 41mm and 45mm sizes, and is compatible with Apple Watch SE, Apple Watch Series 4 or newer, and Apple Watch Ultra (45mm band only). + + + The Unity 2023 watch face will be available next week, and requires Apple Watch Series 4 or later running watchOS 9.3, and iPhone 8 or later and iPhone SE (2nd generation) or later running iOS 16.3. + + + The new Unity iPhone wallpaper for the Lock Screen will be also be available next week and requires iPhone 8 or later running iOS 16.3. + + + Apple Watch Black Unity Sport Loop packaging, Apple Store locations, and the Apple Store app will feature App Clip functionality for customers to easily download the matching Unity watch face, or customers can download from apple.com. + + + + Press Contacts + + + Apple Media Helpline + + + media.help@apple.com + + + (408) 974-2042 + + +Copy text + + + + + + + Images in this article + + +Download all images + + + + + + + + Press Contacts + + + + Apple Media Helpline + + + media.help@apple.com + + + (408) 974-2042 + + + + + + Latest News + + + +PRESS RELEASE + + +Apple unveils M2 Pro and M2 Max: next-generation chips for next-level workflows + + +January 17, 2023 + + + + +PRESS RELEASE + + +Apple introduces new Mac mini with M2 and M2 Pro - more powerful, capable, and versatile than ever + + +January 17, 2023 + + + + +PRESS RELEASE + + +Apple unveils MacBook Pro featuring M2 Pro and M2 Max + + +January 17, 2023 + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Apple Inc. published this content on 18 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 January 2023 14:09:03 UTC. + + diff --git a/news/AAPL/2023.01.18/Apple introduces the new HomePod with breakthrough sound and intelligence.txt b/news/AAPL/2023.01.18/Apple introduces the new HomePod with breakthrough sound and intelligence.txt new file mode 100644 index 0000000000000000000000000000000000000000..cada69d91c977227abd02f5073c1503242bf1f04 --- /dev/null +++ b/news/AAPL/2023.01.18/Apple introduces the new HomePod with breakthrough sound and intelligence.txt @@ -0,0 +1,71 @@ + +Apple® today announced HomePod® (2nd generation), a powerful smart speaker that delivers next-level acoustics in a gorgeous, iconic design. Packed with Apple innovations and Siri® intelligence, HomePod offers advanced computational audio for a groundbreaking listening experience, including support for immersive Spatial Audio tracks. With convenient new ways to manage everyday tasks and control the smart home, users can now create smart home automations using Siri, get notified when a smoke or carbon monoxide alarm is detected in their home, and check temperature and humidity in a room — all hands-free. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230118005369/en/HomePod is packed with Apple innovations, Siri intelligence, and smart home capabilities, while delivering a truly groundbreaking listening experience. (Photo: Business Wire) +The new HomePod is available to order online and in the Apple Store® app starting today, with availability beginning Friday, February 3. + +“Leveraging our audio expertise and innovations, the new HomePod delivers rich, deep bass, natural mid-range, and clear, detailed highs,” said Greg Joswiak, Apple’s senior vice president of Worldwide Marketing. “With the popularity of HomePod mini, we’ve seen growing interest in even more powerful acoustics achievable in a larger HomePod. We’re thrilled to bring the next generation of HomePod to customers around the world.” + +Refined Design + +With a seamless, acoustically transparent mesh fabric and a backlit touch surface that illuminates from edge to edge, the new HomePod boasts a beautiful design that complements any space. HomePod is available in white and midnight, a new color made with 100 percent recycled mesh fabric, with a color-matched woven power cable. + +Acoustic Powerhouse + +HomePod delivers incredible audio quality, with rich, deep bass and stunning high frequencies. A custom-engineered high-excursion woofer, powerful motor that drives the diaphragm a remarkable 20mm, built-in bass-EQ mic, and beamforming array of five tweeters around the base all work together to achieve a powerful acoustic experience. The S7 chip is combined with software and system-sensing technology to offer even more advanced computational audio that maximizes the full potential of its acoustic system for a groundbreaking listening experience. + +With room sensing technology, HomePod recognizes sound reflections from nearby surfaces to determine if it is against a wall or freestanding, and then adapts sound in real time. Precise directional control of its beamforming array of five tweeters separates and beams direct and ambient audio, immersing listeners in crystal-clear vocals and rich instrumentation. + +Users can listen to a catalog of over 100 million songs with Apple Music®,1 enjoy Spatial Audio with a single HomePod or as a stereo pair, or create a captivating home theater experience with Apple TV® 4K. With Siri, users can access a range of music knowledge, and search by artist, song, lyrics, decade, genre, mood, or activity. + +Elevated Experience with Multiple HomePod Speakers + +Two or more HomePod or HomePod mini® speakers unlock a variety of powerful features. Using multiroom audio with AirPlay®,2 users can simply say “Hey Siri,” or touch and hold the top of HomePod to play the same song on multiple HomePod speakers, play different songs on different HomePod speakers, or even use them as an intercom to broadcast messages to other rooms. + +Users can also create a stereo pair with two HomePod speakers in the same space.3 In addition to separating the left and right channels, a stereo pair plays each channel in perfect harmony, creating a wider, more immersive soundstage than traditional stereo speakers for a truly standout listening experience. + +Seamless Integration with the Apple Ecosystem + +Leveraging Ultra Wideband technology, users can hand off whatever they’re playing on iPhone® — like a favorite song, podcast, or even a phone call — directly to a HomePod.4 To easily control what’s playing or receive personalized song and podcast recommendations, anyone in the home can bring an iPhone close to HomePod and suggestions will surface automatically. HomePod can also recognize up to six voices, so each member of the home can hear their personal playlists, ask for reminders, and set calendar events. + +HomePod easily pairs with Apple TV 4K for a powerful home theater experience, and eARC (Enhanced Audio Return Channel)5 support on Apple TV 4K enables customers to make HomePod the audio system for all devices connected to the TV. Plus, with Siri on HomePod, users can control what’s playing on their Apple TV hands-free. + +Find My® on HomePod makes it possible for users to locate their Apple devices, like an iPhone, by playing a sound on the misplaced device. Using Siri, users can also ask for the location of friends or loved ones who share their location via the app. + +A Smart Home Essential + +With Sound Recognition,6 HomePod can listen for smoke and carbon monoxide alarms, and send a notification directly to the user’s iPhone if a sound is identified. The new built-in temperature and humidity sensor can measure indoor environments, so users can create automations that close the blinds or turn on the fan automatically when a certain temperature is reached in a room. + +By activating Siri, customers can control a single device or create scenes like “Good Morning” that put multiple smart home accessories to work at the same time, or set up recurring automations hands-free like “Hey Siri, open the blinds every day at sunrise.”7 A new confirmation tone indicates when a Siri request is made to control an accessory that may not visibly show a change, like a heater, or for accessories located in a different room. Ambient sounds — like ocean, forest, and rain — have also been remastered and are more integrated into the experience, enabling customers to add new sounds to scenes, automations, and alarms. + +Users can also intuitively navigate, view, and organize accessories with the redesigned Home app, which offers new categories for climate, lights, and security, enables easy setup and control of the smart home, and includes a new multicamera view. + +Matter Support + +Matter launched last fall, enabling smart home products to work across ecosystems while maintaining the highest levels of security. Apple is a member of the Connectivity Standards Alliance, which maintains the Matter standard, along with other industry leaders. HomePod connects to and controls Matter-enabled accessories, and serves as an essential home hub, giving users access when away from home. + +Customer Data Is Private Property + +Protecting customer privacy is one of Apple’s core values. All smart home communications are always end-to-end encrypted so they can’t be read by Apple, including camera recordings with HomeKit® Secure Video. When Siri is used, the audio of the request is not stored by default. These features give users peace of mind that their privacy is protected at home. + +HomePod and the Environment + +HomePod is designed to minimize its environmental impact, and includes 100 percent recycled gold — a first for HomePod — in the plating of multiple printed circuit boards and 100 percent recycled rare earth elements in the speaker magnet. HomePod meets Apple’s high standards for energy efficiency, and is mercury-, BFR-, PVC-, and beryllium-free. Redesigned packaging eliminates the outer plastic wrap, and 96 percent of the packaging is fiber based, bringing Apple closer to its goal of completely removing plastic from all packaging by 2025. + +Today, Apple is carbon neutral for global corporate operations, and by 2030, plans to be 100 percent carbon neutral across the entire manufacturing supply chain and all product life cycles. This means that every Apple device sold, from component manufacturing, assembly, transport, customer use, charging, all the way through recycling and material recovery, will have net-zero climate impact. + +Pricing and Availability + +1 Apple Music requires a subscription. +2 Multiroom audio requires multiple HomePod speakers or AirPlay-compatible speakers with the latest AirPlay software. +3 Creating a HomePod stereo pair requires two of the same model HomePod speakers, such as two HomePod mini, two HomePod (2nd generation), or two HomePod (1st generation). +4 iOS 16.3 is required on iPhone for Handoff. +5 Home theater with eARC support requires Apple TV 4K (2nd generation) or later, running the latest tvOS® software. +6 Sound Recognition will be available in a software update later this spring. Sound Recognition may detect smoke and carbon monoxide alarm sounds and send users notifications when recognized. Sound Recognition should not be relied upon in circumstances where users may be harmed or injured, or in high-risk or emergency situations. Sound Recognition requires the updated Home architecture, which will be available as a separate update in the Home app. It requires all Apple devices that access the home to be using the latest software. +7 Smart home accessories are sold separately. + +Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it + +NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or call Apple’s Media Helpline at (408) 974-2042. + +© 2023 Apple Inc. All rights reserved. Apple, the Apple logo, HomePod, Siri, Apple Store, Apple Music, Apple TV, HomePod mini, AirPlay, iPhone, Find My, HomeKit, iPad Pro, iPad, iPad Air, iPad mini, iPadOS, Daily Cash, Apple Card, and tvOS are trademarks of Apple. Other company and product names may be trademarks of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005369/en/ \ No newline at end of file diff --git a/news/AAPL/2023.01.18/Big Tech braces for dismal profits, more job cuts.txt b/news/AAPL/2023.01.18/Big Tech braces for dismal profits, more job cuts.txt new file mode 100644 index 0000000000000000000000000000000000000000..2cc13e8fee832cdcfca204a11a60e541c1fa6c33 --- /dev/null +++ b/news/AAPL/2023.01.18/Big Tech braces for dismal profits, more job cuts.txt @@ -0,0 +1 @@ +Each of America's five largest tech companies, though, are expected to report a fall in profits for the October-December period, as they try to recalibrate in a high-interest environment. Facebook-owner Meta Platforms Inc and Amazon.com Inc are expected to report the biggest declines.Analysts have cut their total revenue projection for the five companies - Meta, Amazon, Apple Inc, Alphabet Inc and Microsoft Corp - by 5% to $561.4 billion as of January from October.Big tech companies are expected to be among the biggest drags to S&P 500's eleven sectors, with the information technology sector projected to report an earnings decline of 9.5%, according to FactSet data.GRAPHIC: Wall Street analysts alter revenue estimates for Big Tech (https://www.reuters.com/graphics/BIGTECH-PREVIEW/akveqaobrvr/chart.png)"I would not expect good news for a while ... at least for the next three quarters. I would expect more layoffs," said Siddharth Singhai, chief investment officer at investment firm Ironhold Capital.Amazon, which is expected to report that earnings slumped 38% and revenue grew at the slowest pace in over 22 years, started communicating to staff on Wednesday whether they were laid off as part of its decision to cut 18,000 jobs.The reduction in workforce came after the retailer overhired based on pandemic demand, echoing Meta's aggressive hiring to meet a surge in social media usage by stuck-at-home consumers.Meta, which decided in November to chop 11,000 jobs, could see a 42% plunge in profit, its fifth straight quarter of decline. The company is also likely to see a 7% fall in revenue - its worst showing ever.The five companies on an average increased their employee base by 45% in 2020 and 20.5% in 2021, with Apple hiring the most modestly."We are forecasting another 5% to 10% headcount cut across the tech sector as many of these companies were spending money like 1980s rockstars," said Wedbush analyst Dan Ives.Microsoft said on Wednesday it would eliminate 10,000 roles, affecting less than 5% of its employees. Analysts expect the company to report a 2.4% rise in revenue, the slowest pace in about 24 quarters. Profit is expected to fall 9%.GRAPHIC: Amazon hired generously; Apple stayed frugal through pandemic (https://www.reuters.com/graphics/TECH-LAYOFF/zgpobrklqvd/chart.png)Apple's revenue is expected to fall for the first time in 15 quarters as its major supplier Foxconn faced major disruption at the biggest iPhone factory in China due to worker unrest related to COVID curbs.Revenue growth at Alphabet, which is slowing hiring and making "course corrections" to cut costs, is expected to be the slowest in 10 quarters.To shore up stock prices, analysts said these companies could pour money into buybacks this year. Their shares fell between 26% and over 60% last year versus the broader market's nearly 20% decline.They together have cash and cash equivalents of over $110 billion, with Amazon having the most and Meta having the least at the end of the September quarter. (Reporting by Nivedita Balu and Yuvraj Malik in Bengaluru; Editing by Maju Samuel)By Nivedita Balu and Yuvraj Malik \ No newline at end of file diff --git a/news/AAPL/2023.01.18/Brazil antitrust agency to investigate MercadoLibre complaint against Apple.txt b/news/AAPL/2023.01.18/Brazil antitrust agency to investigate MercadoLibre complaint against Apple.txt new file mode 100644 index 0000000000000000000000000000000000000000..b35b2247c04ca71941222dd1686d27495e7c5f84 --- /dev/null +++ b/news/AAPL/2023.01.18/Brazil antitrust agency to investigate MercadoLibre complaint against Apple.txt @@ -0,0 +1,24 @@ +BRASILIA, Jan 18 (Reuters) - Brazil's antitrust watchdog +CADE has begun investigating a complaint by e-commerce retailer +MercadoLibre Inc against Apple Inc for alleged +abuse of a monopoly in the distribution of apps for its devices, +the regulator said on Wednesday.The decision to open the investigation into alleged +anti-competitive practices by Apple was taken last week based on +the complaint filed in December by MercadoLibre, CADE said in a +statement."Similar investigations are being conducted by antitrust +authorities in other jurisdictions," the watchdog said.MercadoLibre argued that Apple had imposed a series of +restrictions on the distribution of digital goods and in-app +purchases.The South American company criticized the California tech +giant for requiring developers who offer digital goods or +services within apps to use Apple's own payment system and +stopping them from redirecting buyers to their websites.MercadoLibre filed its complaint in Brazil and also Mexico.Apple did not immediately respond to a request for comment.Apple's policies have been challenged in nearly every corner +of the world over the past few years.In a U.S. court trial over similar allegations, a judge +found that Apple had not violated antitrust law in part because +its rules led to security benefits for users that outweighed any +harm to appmakers. But the ruling is being appealed and a global +resolution on the issue appears distant.CADE said antitrust cases against Apple are underway around +the world, including in the European Union, Britain, South +Korea, Japan, India and Indonesia.Nasdaq-listed MercadoLibre is one of Latin America's largest +companies, with a market capitalization of $53.82 billion, +according to Refinitiv data. +(Reporting by Anthony Boadle, Editing by Rosalba O'Brien) \ No newline at end of file diff --git a/news/AAPL/2023.01.18/Contingent Statement Doesn't Unequivocally Abandon Defense Of Challenged Claims.txt b/news/AAPL/2023.01.18/Contingent Statement Doesn't Unequivocally Abandon Defense Of Challenged Claims.txt new file mode 100644 index 0000000000000000000000000000000000000000..875fcaeafc3e4eb8ab4838ba62b4753293909623 --- /dev/null +++ b/news/AAPL/2023.01.18/Contingent Statement Doesn't Unequivocally Abandon Defense Of Challenged Claims.txt @@ -0,0 +1,12 @@ +The Director of the US Patent & Trademark Office (PTO) initiated a sua sponte review of the Patent Trial & Appeal Board's (Board) adverse judgments in multiple related inter partes review (IPR) proceedings. The PTO Director ultimately ordered that the judgments be vacated and remanded for further consideration. Apple Inc. v. Zipit Wireless, Inc., IPR2021-01124; -01125; -01126; -01129 (Dec. 21, 2022) (Vidal, Dir.)Apple filed six petitions for IPR, all of which were instituted and assigned to the same panel of Administrative Patent Judges. After institution, Zipit filed responses to two of the IPRs, but not the other four companion IPRs. The Board held a hearing in the two IPRs for which Zipit filed responses. At the end of the hearing, Zipit's counsel was asked with reference to the four companion IPRs whether Zipit was "not contesting if a final written decision or adverse judgment was entered with respect to those IPRs." The counsel responded, "correct . . . if the board determines that [Apple has] met their burden of proof with respect to those claims Zipit hasn't filed any opposition." Based on this exchange, the Board determined that Zipit abandoned the contests and entered adverse judgments.The PTO Director initiated review under the interim process for Director review §§ 13, 22, which allows sua sponte Director review, explaining that notice would be given to parties of the proceedings if such a review was initiated. Upon review, the PTO Director did not consider the counsel's statements to be an "unequivocal abandonment of the contest of these proceedings." In an IPR, a petitioner has the "burden of proving a proposition of unpatentability by a preponderance of the evidence" and the "burden from the onset to show with particularity why the patent it challenges is unpatentable." The PTO Director's interpretation of Zipit's statements was that "non-opposition was contingent on the Board determining that [Apple] met its burden of proving by a preponderance of the evidence that the challenged claims are unpatentable."The PTO Director thus vacated the Board's adverse judgments and remanded the proceedings to the panel to issue either an order clarifying whether Zipit indeed abandoned the contest or a final written decision addressing the patentability of the challenged claims.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Cecilia Choy, Ph.D. +McDermott Will & Emery +600 13th Street N.W. +Washington, DC +20005-3096 +UNITED STATES +Tel: 2075776900 +Fax: 2075776950 +E-mail: sliston@europe.mwe.com +URL: www.mwe.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AAPL/2023.01.18/Global markets live: BASF, United Airlines, Microsoft, Pfizer, Apple...txt b/news/AAPL/2023.01.18/Global markets live: BASF, United Airlines, Microsoft, Pfizer, Apple...txt new file mode 100644 index 0000000000000000000000000000000000000000..063c183eec455c2bf1834db63ff378d462d1d072 --- /dev/null +++ b/news/AAPL/2023.01.18/Global markets live: BASF, United Airlines, Microsoft, Pfizer, Apple...txt @@ -0,0 +1,30 @@ + +  +  +  +Corporate results: + +ASM International: Q4 revenues reached €720 million, above the target range of €630-660 million. Operating margin expected to reach 26% in Q4. +Barry Callebaut: Q1 2022/2023 revenues up 7.2% in local currencies, but volumes contracted. +BASF: 2022 operating profit came in at €6.88bn. Sales at €87.3bn. Due to impairments, the chemical company posted a net loss of €1.38bn. +Compagnie Financière Richemont: Sales reached €5.4bn in fiscal Q3, up 8% or 5% excluding currency effects. The consensus was more ambitious (€5.6bn). +Continental: 2022 sales should reach €39.4bn, according to a preliminary estimate. +Just Eat Takeaway: Order intake was below expectations in Q4, at €240m. Management still expects to achieve €225m adjusted Ebitda in 2023. +United Airlines: The U.S. airline exceeds expectations in Q4 2022 and is guiding towards higher-than-expected results in Q1 2023. + +  +In other news: + +New car registrations in Europe rose 14.8% in December, according to ACEA. +Microsoft is expected to cut thousands of jobs, according to Sky News. +Emerson Electric launches a hostile takeover bid for National Instruments for $7.6 billion, after being spurned. +Pfizer to sell nearly 500 vaccines and drugs at cost. +Apple delays the release of its augmented reality glasses, and plans a less ambitious product, according to The Information. +Lufthansa is seeking full control of ITA Airways via a new offer, according to Bloomberg. +S&P Global will sell its engineering solutions business to KKR for $975 million. +Tesla's video promoting autonomous driving was staged, according to an engineer. +Moderna announces that its mRNA-1345 RSV vaccine candidate is successfully moving into Phase III. +Party City files for bankruptcy in the United States. +Coinbase Global - The crypto asset exchange platform announced Wednesday a suspension of its operations in Japan due to financial market volatility. + +Key earnings reports today: Charles Schwabb, BHP Group, Prologis, PNC Financial, EQT, Antofagasta, Burberry, Pearson... The whole agenda is here.  diff --git a/news/AAPL/2023.01.18/How long will this bullish phase last?.txt b/news/AAPL/2023.01.18/How long will this bullish phase last?.txt new file mode 100644 index 0000000000000000000000000000000000000000..bd2ca39bc1b93eaede4ac1cd0a7f5b9a572b9134 --- /dev/null +++ b/news/AAPL/2023.01.18/How long will this bullish phase last?.txt @@ -0,0 +1,39 @@ + +According to Refinitiv, analysts expect Q4 earnings from S&P 500 companies to fall 2.4% from the year-ago quarter. +At the open, the Dow Jones was up 0.2%, the S&P 500 gained 0.3%, and the Nasdaq 100 rose 0.7%. + +Equity markets are on a bullish streak since the start of the year. The Nasdaq added a seventh consecutive session of gains. The U.S. technology index is a good gauge of investors' risk appetite. +That said, the streak almost came to an end yesterday, as the Nasdaq only gained 0.1% at the close. There was also a big gap with the Dow Jones, which fell 1.14%. The old index was hampered by Goldman Sachs, which fell 6.4% after very disappointing results. The U.S. bank is the second most influential stock of the Dow Jones, since it weighed more than 7% before yesterday's session. This is because the historical index of Wall Street is calculated from the price of shares and not their real capitalization. This is why Goldman Sachs, with its price of 350 dollars, has more influence on the index than Apple, which only quotes 136 dollars, even though the capitalization of the Cupertino-based group is 15 times higher. Modern indices take into account the floating capitalization of companies. +Now, question! Is the confidence boost of early 2023, fueled by the prospect of monetary policy normalization, a soft economic landing and a rebound in China, deeply rooted? This is what we will try to determine by dissecting Bank of America's monthly survey of a host of asset managers. The panel is representative (286 professionals managing $772 billion) and the timing is appropriate (the answers were given between January 6 and 12, which is as close as possible to the renewed optimism). The survey shows that investors are "still bearish, but much less so than in the fourth quarter", thanks to the dual factor of China and the Fed, but that they are still going in with a pinch of salt. There is a rotation towards emerging markets, the European Union and cyclical stocks, which is a pretty good description of what happened in the first half of January. +What is surprising, but which I mentioned earlier this week, is that managers are much more optimistic than economists about the months ahead. Their optimism for global growth is at its highest in a year, while fears of recession are at their lowest in 6 months. The adjustment variable, apparently, is China's return to the economic arena. We will see in the coming months who will be right. The main risks cited are "inflation remains high" at 35%, ahead of "a deep recession" (20%) and "central banks remain punitive" (18%). Other risks cited to a lesser extent are a geopolitical deterioration, a systemic credit event and the return of the coronavirus. As for the most bottled bets, being long the US dollar comes out on top but down from December. "Being long ESG assets" comes next, ahead of "being long Chinese stocks". Nothing very original, but no big surprises there. +One thing that is definitely weirder in this survey: in the prediction game for the end of 2023, investors see the 10-year US government bond yield at 3.6%, the S&P500 at 3900 and bitcoin at USD 15,500. Currently, we are at 3.48%, 3991 points and 21,200 USD respectively. I won't go into the 10-year rate, which looks pretty consistent, or the level of bitcoin, which is total mysticism, but I find it surprising that with a pretty bullish economic view, managers see the S&P500 lower than it is now. The answer is probably that investors are looking for performance elsewhere than in the US. And probably also that they are still a bit confused about their strategies. +Let's get back to today's session, with many corporate results, including Charles Schwabb, Prologis and PNC Financial. We also have speeches from Fed members during the day, in particular Raphael Bostic and Lorie Logan. Perhaps an opportunity for investors to refine their predictions on the central bank's intentions. +  +Economic highlights of the day: +In Europe, December inflation for the UK and the euro zone. In the US, a busy schedule with retail sales, industrial production, NAHB house price index and business inventories. All the agenda is here. Overnight, Japan reported sharply falling machinery orders in December, while the Bank of Japan left its monetary policy unchanged. +The dollar is down 0.5% to EUR 0.9218 and GBP 0.8069. The ounce of gold is up to USD 1917. Oil advanced, with North Sea Brent crude at USD 87.55 a barrel and U.S. light crude WTI at USD 82.05. The yield on 10-year US debt is down to 3.48%. Bitcoin is holding steady around USD 21,100. +  +In corporate news: +* United Airlines Holdings is up 3 percent in premarket trading after the airline said Tuesday it expects at least a fourfold increase in profit this year after quarterly earnings beat Wall Street expectations. +* Moderna climbed 6.7% in premarket trading after positive results from a clinical trial for its experimental messenger RNA vaccine against respiratory syncytial virus (RSV). +* Apple postponed indefinitely the expected launch of its connected glasses due to technical difficulties but still plans to launch a virtual and augmented reality headset this year, Bloomberg reported Tuesday. +* Uber - VTC platforms and representatives of independent VTC drivers in France have signed an agreement on minimum net income per ride set at 7.65 euros, Uber and labor organizations announced Wednesday. +* Coinbase Global - The crypto asset exchange platform announced Wednesday a suspension of its operations in Japan due to financial market volatility. +  +Analyst recommendations: + +Adobe: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $350. +AstraZeneca: Berenberg remains Buy with a price target raised from GBp 118 to GBp 126. +Magellan Midstream: Barclays upgrades to overweight from equal-weight. PT up 12% to $59. +Monarch Casino: Macquarie downgrades to neutral from outperform. PT up 2.2% to $81. +Morgan Stanley: Citi downgrades to neutral from buy. PT up 3% to $100. +Oracle:  D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $85. +Salesforce: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $150. +Snowflake: Scotiabank initiated coverage with a recommendation of sector perform. PT set to $125. +Unilever: Jefferies remains Buy with a price target raised from GBp 4500 to GBp 4850. +Vertex Pharmaceuticals: Canaccord Genuity reinstated coverage with a recommendation of hold. PT set to $311, a 0.3% decrease from last price. +Whitbread: Oddo BHF upgrades from Outperform to Neutral with a target of GBp 3500. +Williams Co: Barclays downgrades to equal-weight from overweight. PT up 13% to $37. +Willis Towers: Keefe, Bruyette & Woods upgrades to outperform from market perform. PT jumps 20% to $303. +UGI: Barclays cut its recommendation to underweight from equal-weight. PT down 3.7% to $39. + diff --git a/news/AAPL/2023.01.18/Job cuts at Microsoft, Bad Buzz for Tesla: MarketSc...txt b/news/AAPL/2023.01.18/Job cuts at Microsoft, Bad Buzz for Tesla: MarketSc...txt new file mode 100644 index 0000000000000000000000000000000000000000..a1ea0c6a6254b383b5a40b0050da5124b2c3a934 --- /dev/null +++ b/news/AAPL/2023.01.18/Job cuts at Microsoft, Bad Buzz for Tesla: MarketSc...txt @@ -0,0 +1,9 @@ + +Burberry, Pearson, Manchester United, Ryanair, Total, Blackstone, Deutsche bank, BASF & Eramet, Microsoft, United Airlines, Moderna, Pfizer & GSK, Whirlpool, Planet Labs, Ulta beauty, Peloton Interactive, Medtronic, Zoetis, Costco Wholesale, Kroger, Constellation Brands, The Home Depot, Tesla and Apple feature in this press review! + + + + +  + +  diff --git a/news/AAPL/2023.01.18/OECD sees revenue gains from new tax pact reaching $250 billion.txt b/news/AAPL/2023.01.18/OECD sees revenue gains from new tax pact reaching $250 billion.txt new file mode 100644 index 0000000000000000000000000000000000000000..01b281d40732966362520c84236c2b81afba07b8 --- /dev/null +++ b/news/AAPL/2023.01.18/OECD sees revenue gains from new tax pact reaching $250 billion.txt @@ -0,0 +1 @@ +Nearly 140 countries are preparing to implement next year a 2021 deal on government's rights to tax multinationals in order to take account of the emergence of big digital companies such as Apple and Amazon, which can book profits in low-tax countries.The first pillar of the two-track reform aims to re-allocate 25% of profits from the world's largest multinationals for taxation in the countries where their clients are, regardless of the companies' physical location.The second pillar aims to set a global minimum corporate tax rate of 15% by allowing governments to apply a top-up tax to that level on any profits booked in a country with a lower rate.The OECD estimated that the minimum tax would yield $220 billion, or 9% of global corporate income tax - up from a previous estimate of $150 billion.Meanwhile, the re-allocation of taxing rights under the first pillar of the reform was now expected to cover $200 billion in multinationals' profits, up from $125 billion previously.The increase was mainly due to higher multinational profits now than a couple of years ago, with 50% coming from large digital groups, the OECD said.As a result of more profit being covered, the second pillar was now seen generating tax gains of between $13 billion and $36 billion.While developing countries have criticised the reform over concerns that they could lose out, the OECD's updated analysis found that low- and middle-income countries would gain the most from the re-allocation of taxing rights.At the same time, low-tax investment hubs where multinationals have booked their profits until now would end up surrendering more taxing rights than they are allocated, the OECD said. (Reporting by Leigh Thomas; Editing by Alex Richardson) \ No newline at end of file diff --git a/news/AAPL/2023.01.18/Pyrex maker settles over false 'Made in USA' claims.txt b/news/AAPL/2023.01.18/Pyrex maker settles over false 'Made in USA' claims.txt new file mode 100644 index 0000000000000000000000000000000000000000..fdfc92a05a52f50cb76557899949b21be30845f1 --- /dev/null +++ b/news/AAPL/2023.01.18/Pyrex maker settles over false 'Made in USA' claims.txt @@ -0,0 +1 @@ +Instant Brands LLC did not admit or deny wrongdoing in Wednesday's settlement with the Federal Trade Commission, which approved it by a 4-0 vote.The FTC said Instant Brands shifted some production of Pyrex cups, which are used in home baking, to China from March 2021 to May 2022 after being unable to meet demand on Amazon.com's website early in the COVID-19 pandemic.Despite the shift, Instant Brands marketed the Chinese-made cups as "Made in USA" and as "American as Apple Pie" though the cups were marked "Made in China," the FTC said.More than 110,000 Chinese-made cup sets that were advertised as "Made in USA" were sold to U.S. consumers, many of whom complained after seeing where the cups were made, the FTC said.Some consumers are willing to pay more for products made in the United States. The settlement calls for Instant Brands to pay a $129,416 fine, and stop claiming its products are U.S.-made unless their final assembly and all significant processing take place there, and virtually all components are sourced domestically.Instant Brands did not immediately respond to requests for comment. The Downers Grove, Illinois-based company is controlled by private equity firm Cornell Capital LLC.In 2021, the FTC adopted a "Made in USA Labeling Rule" to protect businesses and consumers from what it called "rampant" fraud by marketers over their products' origins. (Reporting by Jonathan Stempel in New York; Editing by Sandra Maler)By Jonathan Stempel \ No newline at end of file diff --git "a/news/AAPL/2023.01.18/Spotify Sends Joint Letter With European Cos Calling For \"Meaningful Regulatory Action ...txt" "b/news/AAPL/2023.01.18/Spotify Sends Joint Letter With European Cos Calling For \"Meaningful Regulatory Action ...txt" new file mode 100644 index 0000000000000000000000000000000000000000..58a95ad7dbff9e420eaa6784ffe05a66a7b6cfb9 --- /dev/null +++ "b/news/AAPL/2023.01.18/Spotify Sends Joint Letter With European Cos Calling For \"Meaningful Regulatory Action ...txt" @@ -0,0 +1,8 @@ +Jan 18 (Reuters) - SPOTIFY* SPOTIFY SENDS JOINT LETTER WITH EUROPEAN COMPANIES CALLING +FOR +MEANINGFUL REGULATORY ACTION AGAINST APPLE - WEBSITE* SPOTIFY SAYS CO AND 7 COS & ORGS SENT JOINT LETTER TO CALL +FOR +REGULATORY ACTION AGAINST APPLE'S "ANTI-COMPETITIVE PRACTICES IN +EUROPE" - WEBSITE +Source text : http://bit.ly/3GMFqO5 +Further company coverage: \ No newline at end of file diff --git a/news/AAPL/2023.01.18/Spotify joins media firms to urge EU action against Apple's 'unfair' practices.txt b/news/AAPL/2023.01.18/Spotify joins media firms to urge EU action against Apple's 'unfair' practices.txt new file mode 100644 index 0000000000000000000000000000000000000000..d34529c79b02a14c411760ff4ab07d0ae655d431 --- /dev/null +++ b/news/AAPL/2023.01.18/Spotify joins media firms to urge EU action against Apple's 'unfair' practices.txt @@ -0,0 +1 @@ +The letter, addressed to the European Union antitrust regulator's Executive Vice-President Margrethe Vestager, demanded the Commission to act fast for the welfare of European consumers.Spotify has for years accused Apple of abusing its market position using its App Store rules to stifle competition.It has previously submitted antitrust complaints against Apple in various countries, alleging the 30% charge Apple requires developers to pay on its App Store has forced Spotify to "artificially inflate" its own prices."We are writing to you to call for swift and decisive action by the European Commission against anticompetitive and unfair practices by certain global digital gatekeepers, and Apple in particular," read the letter, which was signed by chief executives of media firms Schibsted, Proton and Basecamp.Spotify's Chief Executive Daniel Ek had previously said the iPhone maker "gives itself every advantage while at the same time stifling innovation and hurting consumers".Apple did not immediately respond to a Reuters request for comment. (Reporting by Chavi Mehta in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/AAPL/2023.01.18/Taiwan Q4 GDP unexpectedly shrinks, worst performance in 13 years.txt b/news/AAPL/2023.01.18/Taiwan Q4 GDP unexpectedly shrinks, worst performance in 13 years.txt new file mode 100644 index 0000000000000000000000000000000000000000..3ba1dd1dfe448873c8624a514d97b69007743390 --- /dev/null +++ b/news/AAPL/2023.01.18/Taiwan Q4 GDP unexpectedly shrinks, worst performance in 13 years.txt @@ -0,0 +1 @@ +For the October-December period, annual gross domestic product (GDP) contracted by 0.86% from the same period a year earlier, compared with 4.01% growth for the previous quarter, preliminary data from the statistics agency showed on Wednesday.That was worse than an increase of 1.3% forecast in a Reuters poll, and the worst quarterly performance since the economy contracted 1.13% in the third quarter of 2009, when the world was dealing with a financial crisis.Compared with the previous quarter, Taiwan's economy contracted 4.24% at a seasonally adjusted annual rate."External demand has weakened significantly," the Directorate General of Budget, Accounting and Statistics said, pointing to global inflation and interest rate rises suppressing demand and "the deterioration of the pandemic in mainland China interfering with consumption and production activities".For all of 2022, the economy expanded a preliminary 2.43%, compared to 6.53% logged for 2021. That was slightly slower than last year's 3% growth recorded in China, which was hit hard by stringent COVID curbs and a property market slump.Taiwan's total fourth-quarter exports dropped 8.63% from a year earlier in U.S. dollar terms, the agency said. As a key hub in the global technology supply chain for giants such as Apple Inc, Taiwan's economy had outperformed many regional peers during the pandemic as it benefited from robust demand for tech exports as more people turned to working and studying from home.But global economic woes driven by soaring inflation and the impact of the war in Ukraine, as well as China's pandemic situation, has impacted demand for made-in-Taiwan goods.Taiwan will release revised GDP figures at a later date, yet to be set, including full-year growth forecasts for 2023. In November, the statistics agency revised down its full year 2023 outlook to 2.75% from a previous forecast of 3.05%. (Reporting by Jeanny Kao and Ben Blanchard; Editing by Kim Coghill) \ No newline at end of file diff --git a/news/AAPL/2023.01.18/Twitter offers new annual plan for subscription service.txt b/news/AAPL/2023.01.18/Twitter offers new annual plan for subscription service.txt new file mode 100644 index 0000000000000000000000000000000000000000..14234bb6cee9f2ecdaa13d0715fb06cf17ccd920 --- /dev/null +++ b/news/AAPL/2023.01.18/Twitter offers new annual plan for subscription service.txt @@ -0,0 +1 @@ +Users can subscribe to the service for an annual price of $84, instead of a monthly subscription price of $8 on the web and $11 on Apple devices.The discount would be available in countries including United States, Canada, United Kingdom, Japan, New Zealand and Australia, Twitter said.Since billionaire Elon Musk's takeover of Twitter for $44 billion last year, he has brought changes to the company including new subscription plans for Twitter Blue. The blue check mark was previously reserved for verified accounts of politicians, famous personalities, journalists and other public figures. But a subscription option, open to anyone prepared to pay, was rolled out last year to help Twitter grow revenue as Musk fights to retain advertisers.Earlier in December, Musk added that Twitter's Basic blue tick will have half the number of advertisements and the social media platform will offer a higher tier with no advertisements by next year. (Reporting by Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/AAPL/2023.01.19/APPLE INC : Buy rating from JP Morgan.txt b/news/AAPL/2023.01.19/APPLE INC : Buy rating from JP Morgan.txt new file mode 100644 index 0000000000000000000000000000000000000000..b46fd325d746858ac76fbb4b2fa717e7fea2a802 --- /dev/null +++ b/news/AAPL/2023.01.19/APPLE INC : Buy rating from JP Morgan.txt @@ -0,0 +1 @@ +JP Morgan is positive on the stock with a Buy rating. The target price is reduced from USD 190 to USD 180. \ No newline at end of file diff --git a/news/AAPL/2023.01.19/Davos 2023: Global trade rethink: 'race of the big pockets'?.txt b/news/AAPL/2023.01.19/Davos 2023: Global trade rethink: 'race of the big pockets'?.txt new file mode 100644 index 0000000000000000000000000000000000000000..7b892abc5216cab812cdee099798a6547a5338ef --- /dev/null +++ b/news/AAPL/2023.01.19/Davos 2023: Global trade rethink: 'race of the big pockets'?.txt @@ -0,0 +1 @@ +The Big Three trading powers at this year's World Economic Forum all offered takes on how they saw the future of global commerce. What's not clear is where the rest of the world fits in."I am very concerned," World Trade Organization (WTO) chief Ngozi Okonjo-Iweala told Reuters on the sidelines of the meeting in Davos, Switzerland. "In this re-imagining of globalisation ... we must use it as an instrument to bring in those countries and regions that were left behind."Three decades of free global trade have, the International Monetary Fund estimates, lifted more than a billion people out of extreme poverty. In rich countries, it provided consumers with a seemingly endless supply of cheap goods. But it also left out many regions and failed to benefit the poorer members of wealthy economies, exacerbating inequality and fuelling populist demands for protectionism across the world.Add to that the more recent up-ending of the world's supply chains by the COVID-19 pandemic and the Ukraine war and a consensus has emerged that the world must do globalisation differently.The Biden administration, aware how Donald Trump benefited from voter fears that globalisation was killing U.S. jobs, is championing a trade policy that aims to protect worker rights. It is also promoting a "friend-shoring" drive to encourage firms to diversify activities to market-led economies and away from China - even as Beijing uses Davos to say it is ready to re-engage with the world after ditching its "zero-COVID" policy.Russia's invasion of Ukraine, meanwhile, has persuaded Europe it needs to wean itself off fossil fuel imports and pursue its own economic interests more vigorously, be it in clean energy or other strategic sectors such as semiconductors."RICH-COUNTRY GAME"All that played into the fixation at Davos on the $369 billion U.S. plan to tackle climate change and Europe's fears that this will suck clean tech business from elsewhere to the United States at its expense.As Europe scrambled to launch a plan of its own, Belgian Prime Minister Alexander De Croo voiced concerns that this should not turn into a "race of the big pockets" in which those countries without the resources to compete lost out.Washington promised to address concerns that its subsidies would discriminate against European manufacturers. Others noted the issue went a lot wider."Our only request would be to do that for all your partners, not just a sub-set of them," International Monetary Fund Deputy Managing Director Gita Gopinath told Reuters.Raghuram Rajan, former governor of the Reserve Bank of India, put it more bluntly."This becomes a rich-country game, right?" he told the Reuters Global Markets Forum. "We can subsidize this, you can subsidize that - what about the poor countries, who have limited fiscal room? They get left out in the cold.""Friendshoring" raises similar concerns. U.S. Treasury Secretary Janet Yellen and others use the term to describe how companies should privilege trade with like-minded countries - but that raises the question of who those countries are."Friends should not just be in Asia, there is Latin America, there is Africa," said WTO's Okonjo-Iweala. "You bring them into the supply chain and that way you also include them."Other components of what U.S. Trade Representative Katherine Tai on Wednesday described as the changing world economic order raise concerns.Some middle-income countries, for example, are smarting at what they see as the failure of a 2021 global revamp of tax rules intended to make sure multinationals such as Apple and Amazon pay a fair amount of tax on local business."There is still a bias in favour of (countries that host) the headquarters of multinationals," said Colombian Finance Minister Jose Antonio Ocampo of efforts to supplement that accord with an additional tax pact with fellow Latin American countries.There have been some efforts to ensure that the benefits of trade are spread more widely and fairly. The United States notably built into its trade pact with Mexico a mechanism for identifying and dealing with the denial of worker rights. The European Union, for its part, has stepped up efforts to ensure companies do proper due diligence on their supply chains and has long included labour rights provision in its trade deals - albeit with varying results.U.S. Trade Representative Tai told a panel on Wednesday the United States wanted to "lead a conversation" on a new version of globalisation. Many countries will want to ensure their voice is heard in that conversation. (Reporting by Mark John and Divya Chowdhury in Davos; Editing by Alex Richardson)By Mark John \ No newline at end of file diff --git a/news/AAPL/2023.01.19/Futures fall as weak data fuel recession worries, Fed comments on tap.txt b/news/AAPL/2023.01.19/Futures fall as weak data fuel recession worries, Fed comments on tap.txt new file mode 100644 index 0000000000000000000000000000000000000000..c03f109d33aa6310182e114f71c1fe8cb05eef3b --- /dev/null +++ b/news/AAPL/2023.01.19/Futures fall as weak data fuel recession worries, Fed comments on tap.txt @@ -0,0 +1 @@ +Data on Wednesday showed retail sales, producer prices and production at U.S. factories fell more than expected in December, while November output was also weaker, adding to worries of a slowdown in the economy.This led to the S&P 500 and the Dow logging their biggest daily percentage declines in over a month in the previous session, with comments from Fed speakers that highlighted the disparity between the central bank's estimate of its terminal rate and market expectations.St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester stressed on the need to raise rates beyond 5% to bring inflation to heel, while money markets see the rate peaking at 4.85% by June, with a 25-basis point rate hike baked in for February."For once bad news really was bad news because of the implications it might have for interest rates. Weak retail sales suggested consumers' resilience may have been pushed beyond breaking point," said Russ Mould, investment director at AJ Bell."This undermined the hypothesis of a 'soft landing' for the U.S. economy."December's housing starts number, weekly jobless claims and Philadelphia Fed's Manufacturing Survey for January, due at 8:30 a.m. ET, will provide more clues on the strength of the U.S. economy.Investors are also focused on the fourth-quarter earnings season, with Netflix Inc, American Airlines Group Inc, Procter & Gamble Co and Truist Financial Corp among companies reporting results on Thursday.Analysts now expect year-over-year earnings from S&P 500 companies to decline 2.6% for the quarter, according to Refinitiv data, compared with a 1.6% decline in the beginning of the year.At 5:32 a.m. ET, Dow e-minis were down 173 points, or 0.52%, S&P 500 e-minis were down 21.25 points, or 0.54%, and Nasdaq 100 e-minis were down 69.5 points, or 0.61%.Tesla Inc fell 2% in premarket trading, leading declines among its growth peers Apple Inc, Amazon.com Inc and Microsoft Corp, whose shares were down between 0.6% and 1.0%.Piper Sandler cut the target price on electric-vehicle maker Tesla's stock to $300 from $340. (Reporting by Shubham Batra in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AAPL/2023.01.19/Global markets live: BHP, Linde, Apple, Lufthansa....txt b/news/AAPL/2023.01.19/Global markets live: BHP, Linde, Apple, Lufthansa....txt new file mode 100644 index 0000000000000000000000000000000000000000..a67937dd1b414ed81c76272d9e5cb07312cff37c --- /dev/null +++ b/news/AAPL/2023.01.19/Global markets live: BHP, Linde, Apple, Lufthansa....txt @@ -0,0 +1,25 @@ + +  +  +  +Corporate results: + +Alcoa: Fourth quarter results are below market expectations. +BHP: The mining group reports higher copper and iron ore production in the first half of the fiscal year. +Boohoo: Sales decline 12% in 2022, for a core profit margin of 3.5%. +Deliveroo: Q4 gross transaction value up 6% to £1.8bn, but orders down 2%. But break-even was achieved in H2. +Dr. Martens: Issues profit warning after problems at US distribution center. +Galenica: Revenues exceed CHF 4 bn, up 7% excluding covid effect. +Geberit: Revenue were down 2% in 2022. +Zur Rose: Ebitda loss is less severe than expected in 2022. +Procter & Gamble raised its annual sales target, expecting higher prices to help offset lower demand for its consumer products. + +  +In other news: + +Linde shareholders validate a single listing in New York. +Apple wants to expand into the smart home and thus step on the toes of Amazon and Google, according to Bloomberg. +Lufthansa is the only company to bid on ITA Airways. +Chesapeake Energy announced Wednesday that it will sell part of its South Texas operations to WildFire Energy, a private equity firm, for $1.43 billion in cash. + +Main earnings reports today: Procter & Gamble, Caterpillar, Netflix, CVS Health, Compass, Bankinter, Belimo... The whole agenda is here.  diff --git a/news/AAPL/2023.01.19/Google loses bid to block Indian Android antitrust ruling in major setback.txt b/news/AAPL/2023.01.19/Google loses bid to block Indian Android antitrust ruling in major setback.txt new file mode 100644 index 0000000000000000000000000000000000000000..1165cfaadf5922427d9a9e79ed06c0d28f152588 --- /dev/null +++ b/news/AAPL/2023.01.19/Google loses bid to block Indian Android antitrust ruling in major setback.txt @@ -0,0 +1,56 @@ +(Repeats JAN. 19 story. No change to text.)*India's top court refuses to block Android antitrust +ruling*Google may need to review Android business model in India*Court extends implementation date of Indian order by a +week*Google has said India order could stall Android growthNEW DELHI, Jan 20 (Reuters) - Google on Thursday lost +its fight in India's Supreme Court to block an antitrust order, +in a major setback that will force the U.S. tech giant to change +the business model of its popular Android operating system in a +key growth market.The Competition Commission of India (CCI) ruled in October +that Google, which is owned by Alphabet Inc, exploited +its dominant position in Android and told it to remove +restrictions imposed on device makers, including related to +pre-installation of apps. It also fined Google $161 million.Google challenged the order in the Supreme Court, saying it +would hurt consumers and its business. It warned growth of the +Android ecosystem could stall and it would be forced to alter +arrangements with more than 1,100 device manufacturers and +thousands of app developers. Google also said "no other +jurisdiction has ever asked for such far-reaching changes".A three-judge bench at the Supreme Court, which included +India's chief justice, delayed the Jan. 19 implementation of the +CCI's directives by one week, but declined to block them."We are not inclined to interfere," Chief Justice D.Y +Chandrachud said.During the hearing, Chandrachud told Google: "Look at the +kind of authority which you wield in terms of dominance."About 97% of 600 million smartphones in India run on +Android, according to Counterpoint Research estimates. Apple +has just a 3% share.India's top court asked a lower tribunal, which is already +hearing the matter, to decide on Google's challenge by March 31.Google did not respond to a request for comment.Google licenses its Android system to smartphone makers, but +critics say it imposes restrictions such as mandatory +pre-installation of its own apps that are anti-competitive. The +company argues such agreements help keep Android free.Faisal Kawoosa, founder of Indian research firm Techarc, +said the Supreme Court ruling meant Google may have to consider +other business models in India, such as charging an upfront fee +to startups to provide access to the Android platform and its +Play Store."At the end of the day, Google is for profit and has to look +at measures that make it sustainable and power growth for +its innovations," he said.Android has been the subject of various investigations by +regulators around the world. South Korea has fined Google for +blocking customised versions of it to restrict competition, +while the United States Justice Department has accused Google of +executing anticompetitive distribution agreements for Android.In India, the CCI has ordered Google that the licensing of +its Play Store "shall not be linked with the requirement of +pre-installing" Google search services, the Chrome browser, +YouTube or any other Google applications.It also ordered Google to allow the uninstalling of its apps +by Android phone users in India. Currently, apps such as Google +Maps and YouTube can not be deleted from Android phones when +they come pre-installed.Google has been concerned about India's decision as the +steps are seen as more sweeping than those imposed in the +European Commission's 2018 ruling, when Google was fined for +putting in place what the Commission called unlawful +restrictions on Android mobile device makers. Google has +challenged the record $4.3 billion fine in that case.In Europe, Google has made changes including letting Android +device users pick their default search engine from a list of +providers.Google also argued in its legal filings, seen by Reuters, +that the CCI's investigation unit "copy-pasted extensively from +a European Commission decision, deploying evidence from Europe +that was not examined in India".N. Venkataraman, a government lawyer representing the CCI, +told the top court: "We have not cut, copy and pasted."(Reporting by Aditya Kalra, Arpan Chaturvedi and Munsif +Vengattil; Additional reporting by Diane Bartz and Supantha +Mukherjee +Editing by Jason Neely, Vin Shahrestani and Mark Potter) \ No newline at end of file diff --git a/news/AAPL/2023.01.19/Health Rounds: AI speeds MRI exams.txt b/news/AAPL/2023.01.19/Health Rounds: AI speeds MRI exams.txt new file mode 100644 index 0000000000000000000000000000000000000000..51a7a5bee2a975bc90a62915d271675631cf9ae7 --- /dev/null +++ b/news/AAPL/2023.01.19/Health Rounds: AI speeds MRI exams.txt @@ -0,0 +1,83 @@ +(Health Rounds is published on Tuesdays and Thursdays. Think +your friend or colleague should know about us? Forward this +newsletter to them. They can also subscribe here.)Jan 19 - Hello Health Rounds Readers! Today we report on +two studies of potential applications for artificial +intelligence in medicine: MRI scanning, and smart watch +identification of heart rhythm problems. We also share early +data to suggest that plant-based therapy may be helpful for some +patients with ulcerative colitis, a debilitating +gastrointestinal disease.Artificial intelligence gets MRI done fasterArtificial intelligence (AI) allows magnetic resonance +imaging (MRI) scans to be done faster with no less accuracy, +according to researchers who hope to reduce examination costs +and allow more patients to get the tests.MRI exams can take a long time to perform because the +machines take hundreds of images of body parts in "slices" and +then compile the slices into three-dimensional representations +for doctors to analyze.At NYU Langone Health in New York City, doctors and +scientists collaborated with Meta AI Research to make +the machines scan body parts faster, but at the cost of +collecting only a fourth of the usual amount of data. They then +used AI to "fill in" the missing data, similar to the way the +brain fills in missing information using local context and +previous experiences.For a study reported on Tuesday in Radiology, 170 patients +underwent MRI of the knee in the usual way, which took an +average of roughly 10 minutes, and in an accelerated AI protocol +that took slightly over five minutes. More complex MRI exams can +take 30 minutes or longer.The radiologists judged the AI-reconstructed images to be +just as good as conventional images for detecting problems in +patients' knees and found the overall image quality of the +faster scans to be significantly better than the conventional +images.Important next steps, the researchers said, include +confirming that radiologists' interpretation of the faster scans +correlates with what surgeons later find in the body, and +testing the software on different manufacturers' MRI machines.Smart watch ECGs still no match for doctorsSmart devices hold promise for identifying a common heart +rhythm abnormality but their algorithms still need improvement, +a new study found.Researchers assessed the accuracy of five wearable devices +at detecting atrial fibrillation (AF) - an irregular beating of +the heart that can lead to blood clots and strokes - in 201 +patients, including 62 with AF.If inconclusive tracings were excluded from the analysis, +accuracy at identifying people with and without AF were +comparable among the devices, at 85% and 75%, respectively, for +the Apple Watch 6, 85% and 75% for the Samsung Galaxy +Watch 3, 58% and 75% for the Withings Scanwatch, 66% +and 79% for the Fitbit Sense, and 79% and 69% for the AliveCor +KardiaMobile.There were significant differences in proportions of +inconclusive readings from the five devices. With the Apple +Watch 6, 18% of readings were uninterpretable by the device's +algorithm, the researchers reported on Wednesday in JACC +Clinical Electrophysiology. For the Samsung Galaxy Watch 3 that +figure was 17%, for Withings Scan Watch 24%, 21% for Fitbit +Sense, and for AliveCor KardiaMobile, 26% of the readings were +inconclusive.Cardiologists, however, were able to interpret 99% of the +readings that were labeled as inconclusive by the device +algorithms, the researchers found."Signal quality for manual review is good, but the +algorithms' ability to automatically classify the rhythm is in +need of further improvement to be of medical value in daily +clinical practice," they concluded. At this point, a smart +device result can only be considered a "pretest," they said, +adding that "manual verification by a trained professional is +mandatory."Plant-based therapy may ease ulcerative colitisCurcumin, a component of turmeric, a common spice often +found in curry, may have some benefit for patients with +ulcerative colitis, a small study suggests.Forty-two patients with active ulcerative colitis were +enrolled in the randomized, controlled trial, with two-thirds of +them receiving treatment with a combination of curcumin and the +herbal medicine QingDai for eight weeks and one-third receiving +a placebo. Patients whose disease improved continued with +curcumin alone or placebo for another eight weeks.Symptoms had improved by eight weeks in 85.7% of the +treatment group and 30.7% of the placebo group. In 75% of the +curcumin and QingDai group, doctors also saw evidence of healing +inside the intestines versus 20% for placebo, according to data +presented this week at the Crohn's and Colitis Congress in +Denver.Among patients receiving just curcumin after benefiting by +week 8, 93% still had symptomatic improvement, and 80% were in +remission, at week 16, researchers found.The treatment was associated with changes in gene and +protein activity in patients' intestinal lining that might +explain its benefits, which suggests that induction of those +changes might be a way to treat ulcerative colitis, the +researchers said.Ulcerative colitis affects roughly a million people in the +United States alone, with high prevalence in Europe as well. +U.S. Food and Drug Administration-approved drugs for treating +the disease are costly and include Bristol Myers Squibb's +Zeposia, Johnson & Johnson's Remicade and +Stelara, Abbvie's Humira, and Takeda Pharmaceuticals' +Entyvio. +(Reporting by Nancy Lapid; Editing by Bill Berkrot) \ No newline at end of file diff --git a/news/AAPL/2023.01.19/Here's what Twitter lost in advertising revenue in final months of 2022.txt b/news/AAPL/2023.01.19/Here's what Twitter lost in advertising revenue in final months of 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..5487f5dece519f68329a3a016abf79319ff3f422 --- /dev/null +++ b/news/AAPL/2023.01.19/Here's what Twitter lost in advertising revenue in final months of 2022.txt @@ -0,0 +1 @@ +Fourteen of the top 30 advertisers on Twitter stopped all advertising on the platform after Musk took charge on October 27, according to the Pathmatics estimates. Four advertisers reduced spending between 92% and 98.7% from the week before Musk's acquisition through the end of the year.Overall, advertising spending by the top 30 companies fell by 42% to an estimated $53.8 million for November and December combined, according to Pathmatics, despite an increase in spending by six of them. Pathmatics said the previously unreported figures on Twitter advertising are estimates. The firm bases its estimates on technologies that track ads on desktop browsers and the Twitter app as well as those that mimic user experience.But the company said those estimates do not account for deals advertisers may receive from Twitter, or promoted trends and accounts. "It is possible the spending data could be higher for some brands" if Twitter is offering incentives, Pathmatics said in an email.Twitter did not respond to multiple requests for comment. In a November event on Twitter Spaces, Musk, addressing the issue of companies pausing ads, said that he understands if advertisers "want to give it a minute." He added that "the best way to see how things are evolving (at Twitter) is just use Twitter."Technology-focused publication The Information, citing details shared by a top Twitter ad executive at a staff meeting on Wednesday, reported that Twitter's fourth quarter revenue fell about 35% year over year due to a slump in advertising. Twitter posted a loss of $270 million in the three months ended June 30, on total revenue of about $1.18 billion.The Pathmatics estimates show continued upheaval in Twitter's main revenue stream heading into 2023, led by a pullback from top consumer brands.Forward bookings, or agreements to lock in future ads, were also down for January and February, according to research firm Standard Media Index, which did not provide details.Twitter is moving to reverse the advertiser exodus. It has introduced a slew of initiatives to win back advertisers, offering some free ads, lifting a ban on political advertising and allowing companies greater control over the positioning of their ads."They're frankly really amazing incentives. Honestly, I've not seen that type of incentive ever from any advertiser," said Molly Lopez, owner of ad agency HITE Digital Miami.In addition, Mark DiMassimo, founder of New York-based ad agency DiMassimo Goldstein, said that "bargain basement" direct marketers and political action committees - big spenders on Meta Platform Inc's Facebook - may fill the advertising gap.Coca-Cola Co halted spending in mid November, after purchasing an estimated $1.1 million in Twitter ads earlier that month, while HBO spending collapsed to approximately $38,000 in December from roughly $1.1 million in November, Pathmatics found.Coca-Cola declined to comment. HBO spokesperson Chris Willard did not comment on the specifics of advertising spending, but said "we will be assessing the platform under its new leadership and determine appropriate next steps."Among consumer brands, Heinz ketchup maker Kraft Heinz Co and Stouffers meal manufacturer Nestle SA stopped all advertising, according to the Pathmatics estimates. Heinz and Nestle declined to comment.Mass retailer Target Corp and department store operator Kohls Corp also skipped advertising on Twitter on Black Friday, one of the biggest shopping days of the year, the estimates show. Kohls did not return requests for comment.However, Apple Inc and PepsiCo Inc increased spending, according to Pathmatics. Apple did not respond to requests for comment. PepsiCo declined to comment.Financial technology provider SmartAsset and Amazon.com Inc said Pathmatics estimates showing an increase in advertising were inaccurate. Amazon did not elaborate further and SmartAsset said the figures were "inflated" without giving details. Pathmatics said "we want to reiterate that our figures are just estimates." BRAND SAFETYMusk's arrival at Twitter exacerbated a drop in advertising that began in September after Reuters reported that promotions appeared alongside tweets soliciting child pornography.Most of the companies stopped spending in November, the estimates show, the same month that Musk restored suspended accounts and released a paid account verification that resulted in scammers impersonating corporations.Telecommunications company AT&T Inc and pet food provider Mars Inc slashed spending in September due to concerns about brand safety. As the companies pulled back on Twitter, they maintained and in some cases boosted advertising on Meta Platform Inc's Facebook and Instagram and on short video app TikTok, according to Pathmatics.Meta and TikTok did not immediately return requests for comment.GRAPHIC: Some advertisers cut spending or leave Twitter after Musk's takeover (https://www.reuters.com/graphics/TWITTER-ADVERTISERS/TWITTER-ADVERTISERS-SPENDING/dwpkdadqrvm/graphic.jpg)AT&T said it paused advertising in September because of "concerns around content appearing next" to its ads. The company has been talking to Twitter about its concerns, according to a person familiar with AT&T's thinking.Mars said its "suspension remains in effect."Twitter has said to Reuters it is investing in child safety. The platform is leaning on automation to moderate content and restrict abuse-prone hashtags and search results in areas including child exploitation.Companies also scaled back on tweeting. As of January 19, Target and Special K cereal maker Kellogg Co hadn't tweeted since October; Coca-Cola and electronics retailer Best Buy Co Inc paused tweeting in November, according to a Reuters review of the company's main feeds.Target, Best Buy and Kellogg did not return requests for comment. (Reporting by Jessica DiNapoli in New York and Richa Naidu in London; additional reporting by Sheila Dang in Dallas; Editing by Vanessa O'Connell and Suzanne Goldenberg)By Jessica DiNapoli and Richa Naidu \ No newline at end of file diff --git a/news/AAPL/2023.01.19/Indian startups rejoice as Android ruling against Google upheld.txt b/news/AAPL/2023.01.19/Indian startups rejoice as Android ruling against Google upheld.txt new file mode 100644 index 0000000000000000000000000000000000000000..729eb2b28ce92d5a63a0a9511b54d24ed82151bd --- /dev/null +++ b/news/AAPL/2023.01.19/Indian startups rejoice as Android ruling against Google upheld.txt @@ -0,0 +1,34 @@ +NEW DELHI, Jan 20 (Reuters) - Startups in India cheered +a decision by the Supreme Court on Thursday to uphold an +antitrust order that forces Google to change how it runs its +popular Android platform, saying the ruling would open the +market for rivals and boost competition.The Competition Commission of India (CCI) ordered Google in +October to make a series of changes, such as refraining from +agreements that ensure exclusivity of its search services and +mandatory pre-installation of its apps. It also told Google to +allow third-party app stores to be housed within its Play Store.In a major setback for the Alphabet Inc unit, the +Supreme Court of India on Thursday declined Google's request to +block the antitrust directives, which the company says would +hurt consumers and stall growth of the Android ecosystem in +India. Google now needs to comply within seven days.Rohan Verma, CEO of maps service MapmyIndia which launched +an app in 2004, told Reuters his app had not gained market share +over the years because the Google Maps app was pre-installed on +many Android phones.The CCI order states Google can't impose such requirements +now."We are elated," said Verma. "There was negative impact over +the years, we hope now consumers and device makers use our app +more."About 97% of 600 million smartphone devices in India run on +Android, according to Counterpoint Research estimates. Apple has +just a 3% share.Google licenses the Android system to smartphone makers, +saying it provides more choice for everyone and agreements it +strikes - which critics say are anti-competitive - help keep the +operating system free and open-source.Calling the ruling a "watershed moment", Rakesh Deshmukh, +CEO of Indus OS, which runs a rival app store to Google's, said +allowing other app stores within the U.S. firm's Play Store in +India would give consumers more choice and promote use of apps.Naval Chopra, a lawyer at India's Shardul Amarchand +Mangaldas, which has challenged Google in courts in the past, +said Thursday's court decision was a landmark one."This is a landmark decision in the history of competition +law in India and globally," he said, adding the CCI directives +"may well lead to a new Indian competitor in video hosting, +mapping, web browsers or, dare we say it, search."(Reporting by Aditya Kalra and Munsif Vengattil +Additional reporting by Arpan Chaturvedi +Editing by Mark Potter) \ No newline at end of file diff --git a/news/AAPL/2023.01.19/No sign of British actor Julian Sands after 6 days missing in California mountains.txt b/news/AAPL/2023.01.19/No sign of British actor Julian Sands after 6 days missing in California mountains.txt new file mode 100644 index 0000000000000000000000000000000000000000..fe696198b173336b377b3a2dc9f572271329b1e5 --- /dev/null +++ b/news/AAPL/2023.01.19/No sign of British actor Julian Sands after 6 days missing in California mountains.txt @@ -0,0 +1 @@ +The performer was reported missing on Friday evening, Jan. 13, after he had gone hiking alone in the Baldy Bowl area of the San Gabriel Mountains, about 50 miles (80 km) northeast of Los Angeles, according to the San Bernardino County Sheriff's Department.A search was immediately initiated in the area, but ground teams were pulled out on Saturday evening due to avalanche risks and poor trail conditions, said the sheriff's department spokesperson Mara Rodriguez.Intermittent aerial searches by helicopter and drone aircraft have continued, however, and authorities planned to resume a ground search once conditions allow, she said."We had an air crew up today and there were no signs of Mr. Sands," Rodriguez told Reuters by email.The Baldy Bowl, a large sloping area below the crest of the Mount Baldy ski area, is a popular destination for skiers, climbers and backpackers. And Rodriguez said Sands was believed to be an experienced hiker.Cellphone signals detected on Sunday, Jan. 15, showed Sands was then heading to the Mount Baldy area, apparently the latest indication he was still on the move. Subsequent attempts to "ping" his Apple iPhone failed, "due to the lack of cell service and most likely cell phone power failure," the department said in an update posted on Thursday.A "delayed ping" from Sands' iPhone operating system, generated on Jan. 14, provided a possible location on a trail to the Mount Baldy summit, but checks of that spot by ground and helicopter teams were of no avail, the department said.The Sheriff's Department has warned that severe winter weather, following weeks of storms that dumped heavy snow in California mountains, has made the Baldy area dangerous for outdoor recreation. Overnight temperatures there have ranged from the low-40s to the mid-20s Fahrenheit (4 to minus 4 degrees Celsius) over the past week, Rodriguez said.Over the past four weeks, sheriff search teams have been dispatched on 14 rescue missions on Mount Baldy and surrounding areas for lost or stranded hikers, two of whom perished after falling or injuring themselves, the agency said.Sands' Los Angeles-based representative could not immediately be reached for comment.Born in England, Sands moved to California in the 1980s to pursue a Hollywood career after the success of the 1985 film "A Room with a View," a period romance in which he was cast as the leading man opposite Helena Bonham Carter.He also starred as the son of Satan in the 1989 supernatural thriller "Warlock" and its sequel "Warlock: The Armageddon." He played the title role in the 1998 film version of "The Phantom of the Opera," and starred opposite martial-arts performer Jackie Chan in the 2003 action-comedy "The Medallion."Other motion picture credits include "The Killing Fields," "Arachnophobia," "Naked Lunch," "Boxing Helena," "Leaving Las Vegas," and the English-language remake of "The Girl with the Dragon Tattoo." (Reporting by Steve Gorman in Los Angeles; Editing by Neil Fullick and Marguerita Choy)By Steve Gorman \ No newline at end of file diff --git a/news/AAPL/2023.01.19/U.S. union membership rate falls to all-time low despite organizing efforts, data shows.txt b/news/AAPL/2023.01.19/U.S. union membership rate falls to all-time low despite organizing efforts, data shows.txt new file mode 100644 index 0000000000000000000000000000000000000000..1f62e1589199d246d099c360a98162769d772cdf --- /dev/null +++ b/news/AAPL/2023.01.19/U.S. union membership rate falls to all-time low despite organizing efforts, data shows.txt @@ -0,0 +1 @@ +The union membership rate fell from 10.3% in 2021 to 10.1% in 2022, according to data released by the U.S. Bureau of Labor Statistics on Thursday.However, the number of wage and salary workers who are members of unions, at 14.3 million last year, increased by 273,000, or 1.9%, from 2021, the data showed. The total number of wage and salary workers grew by 5.3 million, or 3.9%, most of them non-union workers."This disproportionately large increase in the number of total wage and salary employment compared with the increase in the number of union members led to a decrease in the union membership rate," the Bureau of Labor Statistics said in a statement.The data released Thursday shows that while unionization efforts have come into the limelight, they have not translated into greater representation of the workforce. A surge in union organizing began during the COVID-19 pandemic in the U.S. and has included unprecedented efforts to unionize Amazon.com Inc warehouses, Starbucks cafes, Apple Inc retail stores and video game developers.In December, the National Labor Relations Board (NLRB), the agency that enforces U.S. labor laws, made it easier for unions to organize small groups of a company's workforce, a move that was expected to give them a key advantage in campaigns to unionize factories, warehouses, universities and other sprawling workplaces.The data on union membership is collected as part of the Current Population Survey, a monthly survey of about 60,000 eligible households that obtains information on employment and unemployment among the United States' civilian, non-institutional population age 16 and over. (Reporting by Kanishka Singh in Washington; editing by Paul Thomasch and Jonathan Oatis)By Kanishka Singh \ No newline at end of file diff --git a/news/AAPL/2023.01.19/Vancouver airport intros robotic smoothie machines.txt b/news/AAPL/2023.01.19/Vancouver airport intros robotic smoothie machines.txt new file mode 100644 index 0000000000000000000000000000000000000000..f860ed6727fe1990676eaeeb24e12314013c64c5 --- /dev/null +++ b/news/AAPL/2023.01.19/Vancouver airport intros robotic smoothie machines.txt @@ -0,0 +1 @@ +Travelers visiting Vancouver International Airport can buy smoothies 24/7 at five robotic smoothie machines provided by Burnaby, Canada-based TrendiTech Inc., according to a press release.The machine blends smoothies in about a minute with no added sugars or preservatives before dispensing them into recyclable cups, which include a lid and single paper straw. Payment is made through a tap using major credit cards and e-wallets such as Apple Pay and Google Pay.Flavors include Berry Breeze, Mango Tango, Strawburst and Groovy Guava.The machines are located post-security at YVR; three in domestic departures, one in U.S. departures and one in international departures.Copyright © 2023 Networld Media. All rights reserved., source Industry News \ No newline at end of file diff --git a/news/AAPL/2023.01.20/Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI.txt b/news/AAPL/2023.01.20/Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI.txt new file mode 100644 index 0000000000000000000000000000000000000000..d5ec0e4f311e0fed5e822cf51f2efe15ed2c0c60 --- /dev/null +++ b/news/AAPL/2023.01.20/Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI.txt @@ -0,0 +1,64 @@ +Jan 20 (Reuters) - Google's parent Alphabet Inc +is cutting about 12,000 jobs as it faces "a different +economic reality", it said in a staff memo, doubling down on +artificial intelligence (AI) and axing staff who support +experimental projects.The job cuts affect 6% of its workforce, and follows +thousands of layoffs at tech giants including Amazon.com Inc +, Microsoft Corp and Meta Platforms Inc +who are downsizing after a pandemic-led hiring spree +left them flabby in a weak economy.Shares in Mountain View, California-based Alphabet, which +boosted its workforce by nearly a third through 2020 and 2021, +rose 4% on Friday. They had fallen 30% in the past 12 months, +echoing a 24% slump in the broader tech industry.Sundar Pichai, Alphabet's boss since 2019, said in the memo +on Friday that he took "full responsibility" for the decisions +that led to the layoffs.Pichai, whose pay was recently tied more closely to +performance, said this was a moment to "sharpen our focus, +reengineer our cost base and direct our talent and capital to +our highest priorities," as Alphabet looked to get imbue its +products with more AI, echoing comments from Microsoft that +announced job cuts on Wednesday.Alphabet, long a leader in AI, is facing competition +from Microsoft, which is reportedly looking to boost its stake +in ChatGPT - a promising chatbot that answers queries with +human-like responses.Advertising dollars, Alphabet's mainstay revenue source, +meanwhile, is feeling the squeeze from businesses chopping +budgets as consumers pull back spending."It is clear that Alphabet is not immune from the tough +economic backdrop, with worries about a U.S. recession growing," +said Susannah Streeter, an analyst at Hargreaves Lansdown."Ad growth has come off the boil ... Competition is also +heating up, with Alphabet facing a powerful rival in TikTok, and +Instagram also vying for its important YouTube viewers," +Streeter said, noting that Alphabet has also racked up billions +in regulatory fines.Evercore ISIS analyst Mark Mahaney said Alphabet's +record-high headcount had created major margin risk going into +fiscal 2023 and Bernstein analyst Mark Shmulik said the job cuts +could save the company Alphabet $2.5 billion to $3 billion in +costs.BIG JOB CUTSWith Alphabet's staff cuts, layoffs at four of the biggest +U.S. tech companies total 51,000 jobs in the past few months. +They have fanned fears of a recession even as the U.S. job +market remains tight."The tech sector is bit like the proverbial canary in the +coal mine," said Stuart Cole, an economist at Equiti Capital, +who believes the tech layoffs portend that the outlook for job +security is finally beginning to turn more negative.Apple, which hired more prudently through the +pandemic, has held off on cuts so far. On Friday, though, +website AppleInsider reported citing sources that the iPhone +maker had started to lay off non-seasonal employees in its +retail channel in places such as Best Buy stores.Apple was not immediately available for a comment on the +report.'LITTLE COMFORT'Alphabet has been working on a major AI launch, two people +familiar with the matter told Reuters. One of the sources said +it would take place in the spring. The New York Times also +reported that Google planned to unveil more than 20 new products +and a search engine including chatbot features.Among those losing their jobs are recruiters, corporate +staff and people working on engineering and product teams, +Pichai said. Google has cut most jobs at Area 120, its in-house +incubator for new projects, a company spokesperson told Reuters.The Alphabet Workers Union said in a statement that the +company's leadership taking "full responsibility" was "little +comfort.""It's appalling that our jobs are first on the chopping +block so shareholders can see a few more points in a chart next +quarter," the union said.In the United States, where Alphabet has already emailed +affected employees, staff would receive severance and six months +of healthcare as well as immigration support.Overseas, layoff notifications will take longer due to local +employment laws and practices, Pichai said in the memo. +Employees in Asia will learn starting in February if the +reduction impacts them.(Reporting by Jeffrey Dastin in Davos, Switzerland, Akash +Sriram, Deep Vakil, Chavi Mehta, Tiyashi Dutta, Nivedita Balu +and Yuvraj Malik in Bengaluru; Editing by Elaine Hardcastle, +Alexander Smith, Nick Zieminski, Sayantani Ghosh) \ No newline at end of file diff --git a/news/AAPL/2023.01.20/Apple appeals investigation by UK competition watchdog.txt b/news/AAPL/2023.01.20/Apple appeals investigation by UK competition watchdog.txt new file mode 100644 index 0000000000000000000000000000000000000000..47980094bdcbe39ecdb8e72240250dba5860478d --- /dev/null +++ b/news/AAPL/2023.01.20/Apple appeals investigation by UK competition watchdog.txt @@ -0,0 +1 @@ +Last November, the Competition and Markets Authority (CMA), Britain's competition regulator, launched a full investigation into cloud gaming and mobile browsers on concerns about restrictions by iPhone-maker Apple and Google. U.S. tech giants, including Google's owner Alphabet and Apple, are drawing increasing attention from competition regulators in Brussels, London and elsewhere.Lawyers representing Apple said in a notice filed with the Competition Appeal Tribunal on Friday that the CMA's investigation should be reviewed. In its argument, lawyers said that the CMA had missed timing requirements linked to the launch of an investigation. "Apple seeks 1) an Order that the MIR Decision is quashed. 2) a declaration that the MIR Decision and market investigation purportedly launched by reference to it are invalid and of no legal effect," the filing with the Appeal Tribunal showed. Responding to the appeal, the CMA said on Friday it would defend its position and continue to progress its work in line with the statutory timetable. "We opened this investigation to make sure that UK consumers get a better choice of mobile web services and that UK developers can invest in innovative mobile content and services," the CMA said in an emailed statement. There is due to be a preliminary hearing on the matter on Tuesday, according to the Competition Appeal Tribunal website. (Reporting by Sarah Young) \ No newline at end of file diff --git a/news/AAPL/2023.01.20/Apple wins appeal to keep $308 million U.S. patent verdict at bay.txt b/news/AAPL/2023.01.20/Apple wins appeal to keep $308 million U.S. patent verdict at bay.txt new file mode 100644 index 0000000000000000000000000000000000000000..30c6833467b091d44d560d6e42af12d75ab9b462 --- /dev/null +++ b/news/AAPL/2023.01.20/Apple wins appeal to keep $308 million U.S. patent verdict at bay.txt @@ -0,0 +1 @@ +The U.S. Court of Appeals for the Federal Circuit in Washington, D.C., upheld an East Texas federal judge's ruling that Personalized Media Communications LLC's patent was invalid because the company engaged in misconduct before the U.S. Patent and Trademark Office.PMC declined to comment on the decision. Representatives for Apple did not immediately respond to a request for comment.PMC, a patent licensing company, first sued Apple for infringing several patents in 2015. An East Texas jury said in August 2021 that the FairPlay software used in Apple's iTunes and App Store to decrypt movies, music and apps infringed one of the patents and awarded the company $308.5 million in damages.District Judge Rodney Gilstrap overturned the verdict four months later. He said PMC's patent was unenforceable because the company had used a "deliberate strategy of delay" in applying for the patent, representing a "conscious and egregious misuse of the statutory patent system."Gilstrap said PMC had used an improper "submarine" strategy that some applicants employed before 1995 to delay patents from becoming public until a market developed for their invention.The Federal Circuit affirmed Gilstrap in a 2-1 ruling, finding that PMC's "inequitable scheme to extend its patent rights" had prejudiced Apple. (Reporting by Blake Brittain in Washington; Editing by David Bario and Matthew Lewis)By Blake Brittain \ No newline at end of file diff --git a/news/AAPL/2023.01.20/Didi Global's ride-hailing app back on Apple app stores in China.txt b/news/AAPL/2023.01.20/Didi Global's ride-hailing app back on Apple app stores in China.txt new file mode 100644 index 0000000000000000000000000000000000000000..0617afc7287ad25574bbf96b584e2c9f72696936 --- /dev/null +++ b/news/AAPL/2023.01.20/Didi Global's ride-hailing app back on Apple app stores in China.txt @@ -0,0 +1 @@ +It also returned to some Android app stores on Tuesday.Didi has been awaiting approval to resume new user registrations and downloads of its 25 banned apps in China as a key step to return to normal business since its regulatory troubles started in mid-2021. (Reporting by Beijing newsroom; editing by Christian Schmollinger) \ No newline at end of file diff --git a/news/AAPL/2023.01.20/Ericsson shares slide as earnings disappoint.txt b/news/AAPL/2023.01.20/Ericsson shares slide as earnings disappoint.txt new file mode 100644 index 0000000000000000000000000000000000000000..94471aa800851e9dd2067405a6b734bc33a95d42 --- /dev/null +++ b/news/AAPL/2023.01.20/Ericsson shares slide as earnings disappoint.txt @@ -0,0 +1,43 @@ +*Expects Q1 core earnings to be lower than last year*Expects to see effect of cost savings from Q2*Cost savings to include headcount reduction -CFO*Gross margin fell to 41.4% from 43.2%*Shares hit 2018 lowsSTOCKHOLM, Jan 20 (Reuters) - Ericsson on +Friday reported lower than expected fourth-quarter core earnings +as sales of 5G equipment slowed in high-margin markets such as +the United States, sending the Swedish company's shares to their +lowest since 2018.Ericsson is the latest tech company to show the impact of +customers tightening belts amid concerns about a global economic +slowdown. Others have been cutting staff, including Microsoft +and Google parent Alphabet which have +announced thousands of job cuts this week.Ericsson has already announced plans to cut costs by 9 +billion crowns by the end of 2023.Chief Financial Officer Carl Mellander told Reuters that +would involve reducing consultants, real estate and also +employee headcount."It's different from geography to geography, some are +starting now, and we'll take it unit by unit, considering the +labor laws of different countries," Mellander said, referring +to the cuts.He declined to say if the job cuts would be similar to 2017 +when Ericsson laid off thousands of employees and focused on +research to return the company to profitability.Ericsson's shares were down as much as 8% early on Friday +and were down 5.7% by 1206 GMT. They have fallen by about 40% +since February last year following a U.S. investigation into +potential payments by the company in Iraq.Last week, the company said it would book a 2.3 billion +Swedish crown ($220 million) provision for an expected fine from +U.S. authorities for breach of a settlement reached in 2019.U.S. IMPACTEricsson's net sales rose in the fourth quarter, but +margins, net income and core earnings fell.Its gross margin for the fourth quarter of 2022 fell to +41.4% from 43.2%.Ericsson said it expected a fall in margin in its Networks +business to persist through the first half of 2023 but the +effect of cost savings to emerge in the second quarter.JPMorgan analysts said given the fall in margins and higher +investments, they would expect 2023 earnings to decline by a +double digit percentage.Inge Heydorn, partner and fund manager at investment firm GP +Bullhound, said: "The fourth quarter shows once again that the +U.S. has a big impact on Ericsson's margins."With U.S. customers such as Verizon tightening their +purse strings, Ericsson is hoping newer markets such as India +can provide some growth.Its South East Asia, Oceania and India market was the only +one to grow in the quarter, rising 21%, accounting for 13% of +the company's business.The company's fourth-quarter adjusted operating earnings, +excluding restructuring charges, fell to 9.3 billion Swedish +crowns from 12.8 billion a year earlier.That was short of the 11.22 billion expected by analysts, +Refinitiv Eikon data showed.Net sales rose 21% to 86 billion crowns, beating estimates +of 84.2 billion.A settlement of a patent deal with Apple last month +resulted in revenue of 6 billion crowns, but Ericsson also took +4 billion crowns in charges, including a provision for a +potential fine from U.S. regulators and divestments.Ericsson said it expects significant patent revenue growth +over the coming 18-24 months.($1 = 10.3095 Swedish crowns)(Reporting by Supantha Mukherjee in Stockholm, editing by Terje +Solsvik and Jane Merriman) \ No newline at end of file diff --git a/news/AAPL/2023.01.20/India's Digital Competition Act.txt b/news/AAPL/2023.01.20/India's Digital Competition Act.txt new file mode 100644 index 0000000000000000000000000000000000000000..3c31790566b3e473cb3b50483d809565de8173d1 --- /dev/null +++ b/news/AAPL/2023.01.20/India's Digital Competition Act.txt @@ -0,0 +1,12 @@ +After the first industrial revolution, rapid improvement in technology, electrification, and transportation led to the second industrial revolution (often referred to as the technological revolution). One of the results of this second industrial revolution was that larger businesses/corporations (trusts) became more prevalent, and there began a concentration of economic powers. "Anti-trust law" therefore, became a necessity to protect the economy from monopolistic behaviour. 1The emergence of the "digital economy" or the "internet economy" arguably marks the third industrial revolution and has brought along with itself grave challenges and ample opportunities alike. It is implicit that the competition law regime, like any other regulatory regime, must adapt. Achieving the fine balance between regulation and innovation, however, has proved to be easier said than done.Competition authorities across the globe are finding it increasingly difficult to effectively regulate "digital markets", and perhaps the primary reason for that is the fundamental difference in the way digital markets operate when compared to traditional markets. Much of the current competition law principles have been evolved after decades of implementation in the traditional markets, and therefore it is clear that a challenge lies ahead for the competition authorities worldwide - as they can no longer rely upon several years of competition jurisprudence. Consequently, authorities across jurisdictions are deliberating a complete overhaul of their competition law framework - or alternatively looking to introduce separate legislations aimed specifically at the disciplining the "biggest players" in the digital markets.The experience in India has been somewhat similar, although the Competition Commission of India (CCI) has been active against these big-tech companies and has initiated numerous enquiries, imposed severe penalties and ordered corrective actions in a plethora of cases in accordance with the existing competition principles,2 questions have been raised over whether such actions actually result in effective regulation, timely market correction and consumer welfare - which are some of the key objectives of a sound competition law regime.To better equip the CCI in achieving these objectives, deliberations have been going on since 2019 on the amendments needed in the Competition Act, 2002 (Act).3 Some of the amendments being proposed in the Competition (Amendment) Bill, 2022 are aimed specifically at such digital markets, but the emerging view is that even those proposed changes are unlikely to be sufficient on their own, since the Act follows an ex-post approach in regulating the conduct of the enterprises. Under this approach, it is argued, that by the time the regulator steps in - it is already too late and the damage is already done. With this in mind, an ex-ante approach to regulating the Digital markets has been touted as the way forward.To this end, the Parliamentary Standing Committee on Finance (2022 - 2023) (Committee) in its 53rd Report on "Anti-Competitive Practices by big tech companies" has recommended that there is a need for ex-ante regulation of anti-competitive practices by big-tech companies in India.4 The Report was prepared after the Committee heard the views of almost all the big tech companies such as Apple, Google, Amazon, Zomato, PayTM, Uber and others; various industry associations; the Ministry of Corporate Affairs (MCA), Ministry of Electronics and Information Technology (Meity) and the CCI.5The Report specifically noted that ex- post measures in a digital market fails to curb irreparable harm to affected parties and there is a need of ex-ante regulatory framework in the fast-evolving digital markets. For this purpose, the Committee recommended that the approach similar to the European Union's (EU) Digital Markets Act (DMA) be followed - wherein the market winners in digital markets which serve as "intermediaries" or "gatekeepers" of the market will be designated as 'Systematically Important Digital Intermediaries' (SIDIs) based on revenue, market capitalization and active business and the end users. The Committee further recommended that after being designated as a SIDI, the SIDI must submit an annual compliance report with the CCI detailing measures undertaken to comply with the mandatory obligations.For this purpose, the Committee recommended the Central Government to frame a separate legislation for regulating the Anti-competitive conduct in the Digital markets - christened as the Digital Competition Act. The Committee has also suggested that a specialized Digital Market Unit should be established within CCI to enable CCI to monitor SIDIs and provide recommendations to Central Government on designating SIDIs, review SIDI compliance and adjudicate on digital market cases. The dedicated unit will be manned by experienced tech-experts, academicians and attorneys.Additionally, in its Report, the Committee focused on 10 areas/instances of anti-competitive practices that need to be addressed and gave its recommendations thereon: anti-steering practices; platform neutrality; bundling and tying; data usage; mergers and acquisitions; deep discounting; exclusive tie-ups; search and ranking; restricting third-party applications; and advertising policies. Presumably, the recommendations of the Committee are the "obligations" which the SIDI's will be required to adhere to, in case the recommendations of the Committee are enforced. These recommendations are seemingly "inspired" from the multiple foreign legislations referred to in the Report -Recommendations of the Standing Committee and similar provisions in the other legislationsS. No.Anti-competitive practiceRecommendations given by the CommitteeSimilar provisions in other legislations1.Anti-SteeringA SIDI should not condition access to the platform or preferred status or placement on the platform on the purchase or use of other products or services offered by the platform that are not part of or intrinsic to the platform.Section 3 (5), American Innovation and Choice Online Act2.Platform Neutrality/Self- PreferencingAn SIDI must not favor its own offers over the offers of its competitors when mediating access to supply and sales markets, in particular, when presenting its own alters in a more favorable manner; and when exclusively pre-installing its own offers on devices or integrating them in any other way in offers provided by the platform.Section 19(a)(2) , German Competition Act3.Bundling and tyingSIDI should not force business users or end users to subscribe to, or register with, any further services as a condition for being able to use, access, sign up for or registering with any of that platform's core platform service.Article 5 (8), DMU4.Data usageThe Committee recommends that a SIDI should not:· "process, for the purpose of providing online advertising services, personal data of end users using services of third parties that make use of core services of the platform;· combine personal data from the relevant core service of the platform with personal data from any further core services or from any other services provided by the platform or with personal data from third- party services;· cross-use personal data from the relevant core service in other services provided separately by the platform, including other core services of the platform, and vice-versa; and· sign in end users to other services of the platform in order to combine personal data, unless the end user has been presented with the specific choice and has given consent."Article 5 (2), DMU5.Acquisitions and mergersThe CCI must be informed of an intended concentration concerning services or collection of data in the digital sector, irrespective of whether it is notifiable to the Commission. A SIDI should also provide such information prior to its implementation, following the conclusion of the agreement, the announcement of the public bid or "acquisition of a controlling interest".Article 14(1), DMU6.Pricing/Deep discountingA SIDI "should not limit business users from differentiating commercial conditions on its platform" and must not prevent business users from offering same products and services through third-party online intermediation services or through their own direct channel at varying prices.Article 5 (3), DMU7.Exclusive Tie-upsA SIDI should not prevent business users from offering same products and services through third-party or direct channels at a different price for fair market conditions to prevail.Article 5 (3), DMU8.Search and ranking preferencingA SIDI must provide third-party undertaking with access to fair, reasonable and non-discriminatory terms to search-engine related operations such as ranking, click, query and others. Further, SIDI should not treat businesses favorably.Article 6 (11), DMU9.Third-party applicationsA SIDI should enable installation of third-party software applications or stores using or interoperating with its operating system. Only exception may be made in case of preventing data from the SIDI or another business user from being transferred to government of a foreign adversary.Article 6 (4), DMU10.Advertising policies:A SIDI should not process users' personal data for online advertising services using third-party services. It must provide advertisers with information on price paid by the advertiser remuneration received by the publisher on a daily basis. Advertisers and publishers must be able to carry out their independent verification of the advertisements inventory of aggregated and non-aggregated data.Article 5 (2)(a) & Article 6(8), DMUThe intent and rationale behind the Committee's recommendations are laudable, especially for highlighting the need for ex-ante regulation of anti-competitive practices in the digital market. The Committee adopted a consensus based approach by consulting all stakeholders besides following the International best practices. Apart from the DMA, the Committee also referred to various legislations in multiple jurisdictions such as American Innovation and Choice Online Act (A/CO), Open App Markets App (USA), the 10th amendment of the German Competition Act amongst others. It must be kept in mind, however, that the abovementioned legislations referred to by the Committee, including the DMA are yet to be implemented (except for the 10th amendment in the German Competition Act) and therefore blanket reliance on provisions contained therein may not be apt, at this stage.Additionally, the regulators, in consultation with the Government, must also seek to avoid over-regulation of market and risk hampering innovation in the market. This is especially true in light of ever-increasing compliance requirements due to the introduction of multiple legislations/rules to regulate the digital market being deliberated and introduced simultaneously, such as the Indian Telecommunications Bill 2022, the Digital Personal Data Protection Bill, 2022, Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, amongst others.Further, while the Committee's recommendation of the need to enact a Digital Competition Act and form a separate Digital Markets Unit may be the best way forward to effectively regulate the Digital Markets in the future, immediate focus of the Central Government should be on finalising the Competition (Amendment) Bill and tabling it before the Parliament as there is an urgent need for amendments in the primary Act. Given the widespread implications and consequences of introducing the Digital Competition Act, more deliberations are needed and it is expected to be a time-consuming process. Therefore, prudence suggests that priority ought to be to give effect to the proposed changes in the Competition Act while deliberations on the Digital Competition Act should continue to be a "work in progress".Footnotes1. Sherman Antitrust Act, 1890 and Clayton Act 1914 were introduced measures to regulate the conduct of such entities.2. Google Android Case (CCI case no. 39 of 2018), Google Playstore Case (CCI case no. 07 of 2020), FHRAI & anr. v. MMT-GO and OYO (CCI case no. 14 of 2019 and case no. 01 of 2020), ongoing enquiries against Apple (CCI case no. 24 of 2021), WhatsApp privacy policy (Suo Moto case no. 01 of 2021), Amazon & Flipkart (CCI case no. 40 of 2019) Zomato & Swiggy (CCI case no. 16 of 2021) Bookmyshow (CCI case no. 46 of 2022) etc.3. The Competition Law Review Committee formed by the Ministry of Corporate Affairs to suggest amendments in the Competition Act gave its report in July 2019. The report is available at https://www.ies.gov.in/pdfs/Report-Competition-CLRC.pdf4. 53rd Report of the Parliamentary Standing Committee on Finance on "Anti-Competitive Practices by Big-Tech Companies", available at https://loksabhadocs.nic.in/lsscommittee/Finance/17_Finance_53.pdf5. Ibid page 5.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr G R Bhatia +Luthra and Luthra Law Offices India +9th Floor &103, Ashoka Estate +Barakhamba Road +New Delhi +INDIA +Tel: 1141215100 +Fax: 1123723909 +E-mail: Skrishnamurthy@luthra.com +URL: www.luthra.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AAPL/2023.01.20/One thousand 'bad apples' placed outside London police HQ in demonstration.txt b/news/AAPL/2023.01.20/One thousand 'bad apples' placed outside London police HQ in demonstration.txt new file mode 100644 index 0000000000000000000000000000000000000000..563cfc781b2820da867db7756cef9d90ce7cc88d --- /dev/null +++ b/news/AAPL/2023.01.20/One thousand 'bad apples' placed outside London police HQ in demonstration.txt @@ -0,0 +1 @@ +Refuge, a British domestic abuse charity, placed the imitation red and green apples outside the Metropolitan Police's New Scotland Yard building in central London, alongside a sign saying: "1071 bad apples. How many more?"The demonstration comes days after a serving London police officer admitted to 24 counts of rape in a campaign of abuse against women -- news that appalled the nation and shone a light on the issue of falling public confidence in law enforcement.In an effort to regain public trust, the Met police said on Tuesday it was investigating sexual and domestic abuse cases involving 1,071 officers and staff, and that hundreds were likely to be sacked as a result."This is not one bad apple; this is a systemic problem across policing," Refuge CEO Ruth Davison said. "How have these perpetrators of abuse been allowed to enter and remain in positions of power for so long?""What happens next must change the culture of policing for good. A force which breeds violent misogyny is not a force which can even begin to protect women and girls."The Met, which has faced a string of scandals in recent years revealing a culture of corruption, racism and misogyny, is Britain's biggest police force with more than 43,000 staff and responsibility for issues such as terrorism and extradition.Refuge has called for "urgent and radical change" and advocated for fast-track legislation to improve vetting and disciplinary standards across police forces and mandatory training for all officers on issues concerning violence against women.A Met spokesperson said the force was aware of Friday's protest, and its officers had engaged with those involved to facilitate a peaceful demonstration. It said the protesters left at 1000 GMT and took the apples with them. (Reporting by Sachin Ravikumar, Editing by Kylie MacLellan) \ No newline at end of file diff --git a/news/AAPL/2023.01.20/Research shows huge drop in Twitter advertising.txt b/news/AAPL/2023.01.20/Research shows huge drop in Twitter advertising.txt new file mode 100644 index 0000000000000000000000000000000000000000..ee343db51ce37aa169ea26f89cfe8bb578f4d649 --- /dev/null +++ b/news/AAPL/2023.01.20/Research shows huge drop in Twitter advertising.txt @@ -0,0 +1 @@ +Reuters asked research firm Pathmatics to compile some estimates. They conclude that spending on the site by the top 30 advertisers dropped 42% over November and December. The estimate is based on technologies that track ads on desktop browsers and the Twitter app. Pathmatics says it doesn't account for some factors, including incentives that advertisers might have got from Twitter. That means the spending data could be higher for some brands. Among big names...Pathmatics found that Coca-Cola halted all spending on Twitter ads in mid-November. Food giants Kraft Heinz and Nestle also stopped. And retailer Target skipped advertising for Black Friday. But Apple and PepsiCo actually stepped up spending. Neither Twitter nor any of those firms would comment on the analysis.But a drop in advertising would tally with separate reports by The Information. It says Twitter revenue fell about 35% in the fourth quarter due to a slump in ad sales. That may all make grim reading for Elon Musk. Because coming up on his to-do list are the interest payments on the big debt incurred to buy Twitter. \ No newline at end of file diff --git a/news/AAPL/2023.01.20/Samsung loses bid to pause Caltech patent lawsuit over wireless chips.txt b/news/AAPL/2023.01.20/Samsung loses bid to pause Caltech patent lawsuit over wireless chips.txt new file mode 100644 index 0000000000000000000000000000000000000000..1367ddb3012e7f00a4a9609f4afe57c66ebdba2f --- /dev/null +++ b/news/AAPL/2023.01.20/Samsung loses bid to pause Caltech patent lawsuit over wireless chips.txt @@ -0,0 +1 @@ +U.S. District Judge Rodney Gilstrap said halting the lawsuit until the Patent Trial and Appeal Board reviews the patents would unnecessarily delay the court case and prejudice Caltech. Caltech had no comment on the decision. Representatives for Samsung and Caltech did not immediately respond to a request for comment.Caltech sued Samsung after it won a $1.1 billion California jury verdict in 2020 against Apple and Broadcom in a dispute over some of the same patents. A U.S. appeals court tossed the verdict last year and remanded for a new trial on damages.The school's 2021 lawsuit alleges Samsung's Galaxy phones, tablets, watches and Wi-Fi-enabled Samsung products like televisions and refrigerators infringe its data-transmission patents.Caltech has separately sued Microsoft, Dell and HP over the patents. Samsung challenged their validity at the USPTO last year. Samsung asked the Texas court to freeze Caltech's case against it until the reviews finish, arguing the lawsuit was at an early stage and the PTAB decisions would simplify the issues.But Gilstrap said Friday that pausing the case would "do nothing more than draw out the time to trial," and that he could not determine whether the PTAB challenges would simplify the lawsuit because the board had not yet decided whether to hear them.Gilstrap also said a pause would "require the parties to sink additional resources into the case," which has already been going on for over a year, "all the while postponing Caltech's vindication of its patent rights."The Texas case is scheduled to go to trial in September. The board's final decisions on patent validity would be due in November.The case is California Institute of Technology v. Samsung Electronics Co, U.S. District Court for the Eastern District of Texas, No. 2:21-cv-00446.For Caltech: Dan Shih, Kalpana Srinivasan, Shawn Blackburn, Daniel Wilson and Tamar Lusztig of Susman GodfreyFor Samsung: Greg Arovas, Robert Appleby, Ed Donovan, Chris Mizzo, Mike Pearson, John Rhine, Nichole DeJulio, and Eric Hayes of Kirkland & EllisRead more:After winning $1 bln in Apple case, Caltech sues Samsung over same patentsCalTech wins $1.1 billion jury verdict in patent case against Apple, BroadcomApple, Broadcom win new trial in $1.1 bln Caltech patent caseU.S. Supreme Court asks for gov't views on blockbuster Apple/Caltech patent disputeBy Blake Brittain \ No newline at end of file diff --git a/news/AAPL/2023.01.20/Take Five: Staring at the ceiling.txt b/news/AAPL/2023.01.20/Take Five: Staring at the ceiling.txt new file mode 100644 index 0000000000000000000000000000000000000000..01d418c333a097e53e6915632b7f904e00216fec --- /dev/null +++ b/news/AAPL/2023.01.20/Take Five: Staring at the ceiling.txt @@ -0,0 +1 @@ +Global business activity data will provide the latest insight into how protracted a slowdown could prove, Britain's FTSE flirts with record highs and Japan, New Zealand and Australia release inflation numbers.Here's a look at the week ahead in markets from Kevin Buckland in Tokyo, Lewis Krauskopf and Ira Iosebashvili in New York, and Naomi Rovnick and Alun John in London.1/HITTING THE CEILINGThe U.S. government hit its $31.4 trillion borrowing limit amid a spat between the Republican-controlled House of Representatives and President Joe Biden's Democrats over raising the country's debt ceiling - a standoff that could lead to a fiscal crisis, or at worst a default within months. Immediate fallout might be limited, but risks will emerge closer to June, when the government approaches the date beyond which the Treasury will likely have exhausted emergency manoeuvres to stave off default.Legislative fights over the limit this last decade have largely been resolved before they hurt markets. But a lengthy standoff in 2011 prompted S&P to downgrade the U.S. credit rating for the first time.U.S. credit default swaps - an instrument used to insure against default - have hit decade highs in recent days. Graphic: Staring at the ceiling https://www.reuters.com/graphics/GLOBAL-MARKETS/dwpkdayklvm/chart.png2/ THE BOTTOM LINE    Results from the megacap tech and growth companies will test the nascent new year's rebound in tech shares.    Microsoft, the second biggest U.S. company by market value, reports on Tuesday followed by Elon Musk's Tesla on Wednesday - and that's just the warm up for Apple, the top U.S. firm and Google-parent Alphabet the week after. All told, companies worth more than half the S&P 500's market value are reporting results over the next two weeks.    Earnings season has had a tepid start. S&P 500 companies are expected to post an overall 2.6% drop in Q4 earnings versus the year-ago period, according to Refinitiv IBES data.    Other market-moving catalysts could come from economic data, including new home sales on Thursday and the personal consumption expenditures index on Friday.Graphic: Looming U.S. earnings recession https://www.reuters.com/graphics/GLOBAL-MARKETS/jnpwywrygpw/chart.png3/SUNNIER SKIES OR FALSE DAWNS? Could this be the end of bear market rallies? Global stocks remain nearly 20% below their January 2022 record high. But MSCI's global share index is also on its longest winning streak since the depths of the bear market last October, as traders bet on economic conditions improving. All eyes will be on purchasing managers indexes summarising executives' views of the business climate, to see if the global economy really is heading somewhere less gloomy.The JPMorgan Global Composite PMI in December lingered below the 50 benchmark separating expansion from contraction. It was also, at 48.2, a few ticks above November's 29-month low. Stock markets can predict the global PMI levels, tending to bounce ahead of a sustainable rise of the index. Improvements in PMI readings from developed economies will likely increase risk appetite. Another downturn may cause the bears to roar again. Graphic: Last of the bear market rallies? https://www.reuters.com/graphics/GLOBAL-MARKETS/akpeqayeqpr/chart.png4/INFLATION VS DOVES The Bank of Japan just sent a strong signal to the bond market: stop betting that the end of stimulus is near.    But data could fuel market speculation. Inflation renewed a more than four-decade high nationwide last month, and double the BOJ's 2% target. January figures for Tokyo could push even higher when they're released on Jan. 27.    While Japanese government bond yields remain subdued following the BOJ's unanimous decision to keep the status quo on Wednesday, currency markets tell a different story. The yen retraced most of its big, knee-jerk drop on the same day of the decision, and is hovering near seven-month highs.    On Wednesday, watch out for Australian and New Zealand inflation data as well, with the RBNZ pondering how much more to tighten, and the RBA wondering whether it's time to pause.Graphic: Japan's core CPI inflation at 41-year high https://www.reuters.com/graphics/GLOBAL-MARKETS/gdvzqwabopw/chart.png5/LONDON CALLING London's bluechip FTSE 100 index is poised to launch a new attempt to scale an all-time high in days to come.The rally is a sign, at least in part, that the so-called "moron premium" which weighed on British assets after the political turmoil of autumn 2022 is easing. That's not the only thing helping the index outperform peers - its heavy weighting of miners and other commodity-focused stocks has received a boost from China's reopening. The fact it is only just about to match its May 2018 record reflects the FTSE's weakness in recent years: The S&P 500 hit its record top in January 2022 and is currently 40% above May 2018 levels. British public sector borrowing numbers, producer price inflation and PMI data are all due as well ahead of a Bank of England meeting the following week.Graphic: Underperforming FTSE slowly catches up https://www.reuters.com/graphics/GLOBAL-MARKETS/egpbymeojvq/Screenshot%202023-01-19%20at%2017.12.00.png (Compiled by Karin Strohecker; Graphics by Vincent Flasseur; editing by Dhara Ranainsghe and Toby Chopra) \ No newline at end of file diff --git a/news/AAPL/2023.01.20/Tech stock rebound faces doubters with earnings season ahead.txt b/news/AAPL/2023.01.20/Tech stock rebound faces doubters with earnings season ahead.txt new file mode 100644 index 0000000000000000000000000000000000000000..e3e3efac0ef919113376646fad89ba56651067f4 --- /dev/null +++ b/news/AAPL/2023.01.20/Tech stock rebound faces doubters with earnings season ahead.txt @@ -0,0 +1 @@ +The tech-heavy Nasdaq 100 index has gained over 3% in 2023, double the rise for the S&P 500. Shares of some megacap companies - which include those grouped outside of tech in sectors like communication services and consumer discretionary - have shot higher, with Amazon, Meta Platforms and Nvidia posting double-digit percentage increases.Several factors are driving that outperformance, including investors piling into stocks they believe were overly punished in 2022. A moderation in bond yields, whose jump last year particularly pressured tech-stock valuations, is also likely helping the group, investors said.Now, however, the focus is shifting to whether these companies can withstand a widely expected economic downturn while supporting valuations that some investors believe are too high."To keep this rebound going, the guidance for '23 has to be less worse than what people are anticipating," said Peter Tuz, president of Chase Investment Counsel, whose firm recently pared its holdings in Apple and Microsoft.Tech and growth stocks led U.S. equity markets for years following the 2008 financial crisis, aided by near-zero interest rates. They struggled along with broader markets last year as the Federal Reserve raised rates to fight surging inflation, and some investors doubt they will regain the market's pole position any time soon. The Nasdaq 100 fell 33% in 2022, while the S&P 500 lost 19.4%.The top six stocks by market value in late 2021 - Apple, Microsoft, Alphabet, Amazon, Meta and Tesla - have seen their collective weight in the S&P 500 fall from 25% to 18%, according to Strategas Research Partners.That dynamic echoes a pattern seen after the market's dot-com bubble burst after the turn of the century. The six biggest stocks at that time saw their collective weight in the S&P 500 decline to 5% from a peak of 17% over a number of years, according to Strategas."This leadership unwind ... is going to be one that is measured in years, not in months or quarters," said Chris Verrone, head of technical and macro research at Strategas.EARNINGS TESTCompanies comprising over half the S&P 500's market value are due to report results in the next two weeks, including Microsoft, the second-largest U.S. company by market value, on Tuesday, Elon Musk's Tesla and IBM on Wednesday and Intel on Thursday. Apple, the largest U.S. company by market value, and Google-parent Alphabet report the following week.Fourth-quarter earnings in the tech sector are expected to have declined 9.1% from a year ago, compared to a 2.8% decline for S&P 500 earnings overall, according to Refinitiv IBES. A critical question for many megacaps, once heralded for their stellar growth, is whether they can increase revenue and profits significantly while cutting costs in the face of a possible recession. Alphabet Inc said Friday it is cutting about 12,000 jobs, or 6% of its workforce, the latest tech giant to announce layoffs. Microsoft on Wednesday said it would eliminate 10,000 jobs while Amazon started notifying employees of its own 18,000-person job cuts."The biggest positive could be if they could show a control of expenses while keeping at least reasonable growth intact," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey. "It's a hard balancing act."Valuations for tech and megacap companies have moderated after last year's selloff, though they still stand above those of the broader market. The S&P 500 tech sector still trades at a roughly 19% premium to the broader index, above its 7% average of the past 10 years, according to Refinitiv Datastream.Nonetheless, some investors are reluctant to bet against tech stocks.The Wells Fargo Investment Institute counts tech as one of its favored U.S. sectors. The firm expects an economic downturn and believes many tech companies have businesses that are resilient to economic uncertainty, said Sameer Samana, a senior global market strategist there."It's just too important and too big a weighting not to participate," Samana said. "But the years of handily outperforming the S&P are probably now behind us." (Reporting by Lewis Krauskopf; Editing by Ira Iosebashvili and John Stonestreet)By Lewis Krauskopf \ No newline at end of file diff --git a/news/AAPL/2023.01.20/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt b/news/AAPL/2023.01.20/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a32aaab561f7ebb22f6b9f34917c77f47e0648f --- /dev/null +++ b/news/AAPL/2023.01.20/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt @@ -0,0 +1,66 @@ +NEW YORK, Jan 20 (Reuters) - A spate of earnings reports +in coming weeks is set to test a recent bounce in technology and +other megacap stocks, a category whose leadership position in +U.S. markets has faltered after last year’s deep selloff.The tech-heavy Nasdaq 100 index has gained nearly +6.2% in 2023, compared to a 3.45% rise for the S&P 500. +Shares of some megacap companies - which include those grouped +outside of tech in sectors like communication services and +consumer discretionary - have shot higher, with Amazon, +Meta Platforms and Nvidia posting double-digit +percentage increases.Several factors are driving that outperformance, including +investors piling into stocks they believe were overly punished +in 2022. A moderation in bond yields, whose jump last year +particularly pressured tech-stock valuations, is also likely +helping the group, investors said.Now, however, the focus is shifting to whether these +companies can withstand a widely expected economic downturn +while supporting valuations that some investors believe are too +high."To keep this rebound going, the guidance for ’23 has to be +less worse than what people are anticipating," said Peter Tuz, +president of Chase Investment Counsel, whose firm recently pared +its holdings in Apple and Microsoft.Tech and growth stocks led U.S. equity markets for years +following the 2008 financial crisis, aided by near-zero interest +rates. They struggled along with broader markets last year as +the Federal Reserve raised rates to fight surging inflation, and +some investors doubt they will regain the market's pole position +any time soon. The Nasdaq 100 fell 33% in 2022, while the S&P +500 lost 19.4%. +The top six stocks by market value in late 2021 - Apple, +Microsoft, Alphabet, Amazon, Meta and Tesla - +have seen their collective weight in the S&P 500 fall from 25% +to 18%, according to Strategas Research Partners.That dynamic echoes a pattern seen after the market’s +dot-com bubble burst after the turn of the century. The six +biggest stocks at that time saw their collective weight in the +S&P 500 decline to 5% from a peak of 17% over a number of years, +according to Strategas."This leadership unwind ... is going to be one that is +measured in years, not in months or quarters," said Chris +Verrone, head of technical and macro research at Strategas.EARNINGS TESTCompanies comprising over half the S&P 500's market value +are due to report results in the next two weeks, including +Microsoft, the second-largest U.S. company by market value, on +Tuesday, Elon Musk's Tesla and IBM on Wednesday and +Intel on Thursday. Apple, the largest U.S. company by +market value, and Google-parent Alphabet report the following +week.Fourth-quarter earnings in the tech sector are expected to +have declined 9.1% from a year ago, compared to a 2.8% decline +for S&P 500 earnings overall, according to Refinitiv IBES.A critical question for many megacaps, once heralded for +their stellar growth, is whether they can increase revenue and +profits significantly while cutting costs in the face of a +possible recession.Alphabet Inc said Friday it is cutting about +12,000 jobs, or 6% of its workforce, the latest tech giant to +announce layoffs. Microsoft on Wednesday said it would eliminate +10,000 jobs while Amazon started notifying employees of its own +18,000-person job cuts."The biggest positive could be if they could show a control +of expenses while keeping at least reasonable growth intact," +said Rick Meckler, partner at Cherry Lane Investments in New +Vernon, New Jersey. "It’s a hard balancing act."Valuations for tech and megacap companies have moderated +after last year's selloff, though they still stand above those +of the broader market. The S&P 500 tech sector still trades at a +roughly 19% premium to the broader index, above its 7% average +of the past 10 years, according to Refinitiv Datastream.Nonetheless, some investors are reluctant to bet against +tech stocks.The Wells Fargo Investment Institute counts tech as one of +its favored U.S. sectors.The firm expects an economic downturn and believes many tech +companies have businesses that are resilient to economic +uncertainty, said Sameer Samana, a senior global market +strategist there."It’s just too important and too big a weighting not to +participate," Samana said. "But the years of handily +outperforming the S&P are probably now behind us.”(Reporting by Lewis Krauskopf; Editing by Ira Iosebashvili, +John Stonestreet and Daniel Wallis) \ No newline at end of file diff --git a/news/AAPL/2023.01.20/Women's charity dumps 'bad apples' at London Met HQ.txt b/news/AAPL/2023.01.20/Women's charity dumps 'bad apples' at London Met HQ.txt new file mode 100644 index 0000000000000000000000000000000000000000..41ccfe6b5080d91f26085a6fc5b87b949714759f --- /dev/null +++ b/news/AAPL/2023.01.20/Women's charity dumps 'bad apples' at London Met HQ.txt @@ -0,0 +1 @@ +The protest comes after a serving London police officer earlier this week admitted to carrying out 24 counts of rape in a near two decade-long campaign of abuse against women, making him one of Britain's most prolific sex offenders.The Met police, already grappling with a collapse of confidence among the public after a string of scandals, apologized for failing to spot the pattern of abuse earlier.An independent review of the London force said in October that "radical" reform was needed in relation to how the it dealt with misconduct allegations faced by hundreds of its staff and officers. \ No newline at end of file diff --git a/news/AAPL/2023.01.22/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt b/news/AAPL/2023.01.22/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a32aaab561f7ebb22f6b9f34917c77f47e0648f --- /dev/null +++ b/news/AAPL/2023.01.22/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt @@ -0,0 +1,66 @@ +NEW YORK, Jan 20 (Reuters) - A spate of earnings reports +in coming weeks is set to test a recent bounce in technology and +other megacap stocks, a category whose leadership position in +U.S. markets has faltered after last year’s deep selloff.The tech-heavy Nasdaq 100 index has gained nearly +6.2% in 2023, compared to a 3.45% rise for the S&P 500. +Shares of some megacap companies - which include those grouped +outside of tech in sectors like communication services and +consumer discretionary - have shot higher, with Amazon, +Meta Platforms and Nvidia posting double-digit +percentage increases.Several factors are driving that outperformance, including +investors piling into stocks they believe were overly punished +in 2022. A moderation in bond yields, whose jump last year +particularly pressured tech-stock valuations, is also likely +helping the group, investors said.Now, however, the focus is shifting to whether these +companies can withstand a widely expected economic downturn +while supporting valuations that some investors believe are too +high."To keep this rebound going, the guidance for ’23 has to be +less worse than what people are anticipating," said Peter Tuz, +president of Chase Investment Counsel, whose firm recently pared +its holdings in Apple and Microsoft.Tech and growth stocks led U.S. equity markets for years +following the 2008 financial crisis, aided by near-zero interest +rates. They struggled along with broader markets last year as +the Federal Reserve raised rates to fight surging inflation, and +some investors doubt they will regain the market's pole position +any time soon. The Nasdaq 100 fell 33% in 2022, while the S&P +500 lost 19.4%. +The top six stocks by market value in late 2021 - Apple, +Microsoft, Alphabet, Amazon, Meta and Tesla - +have seen their collective weight in the S&P 500 fall from 25% +to 18%, according to Strategas Research Partners.That dynamic echoes a pattern seen after the market’s +dot-com bubble burst after the turn of the century. The six +biggest stocks at that time saw their collective weight in the +S&P 500 decline to 5% from a peak of 17% over a number of years, +according to Strategas."This leadership unwind ... is going to be one that is +measured in years, not in months or quarters," said Chris +Verrone, head of technical and macro research at Strategas.EARNINGS TESTCompanies comprising over half the S&P 500's market value +are due to report results in the next two weeks, including +Microsoft, the second-largest U.S. company by market value, on +Tuesday, Elon Musk's Tesla and IBM on Wednesday and +Intel on Thursday. Apple, the largest U.S. company by +market value, and Google-parent Alphabet report the following +week.Fourth-quarter earnings in the tech sector are expected to +have declined 9.1% from a year ago, compared to a 2.8% decline +for S&P 500 earnings overall, according to Refinitiv IBES.A critical question for many megacaps, once heralded for +their stellar growth, is whether they can increase revenue and +profits significantly while cutting costs in the face of a +possible recession.Alphabet Inc said Friday it is cutting about +12,000 jobs, or 6% of its workforce, the latest tech giant to +announce layoffs. Microsoft on Wednesday said it would eliminate +10,000 jobs while Amazon started notifying employees of its own +18,000-person job cuts."The biggest positive could be if they could show a control +of expenses while keeping at least reasonable growth intact," +said Rick Meckler, partner at Cherry Lane Investments in New +Vernon, New Jersey. "It’s a hard balancing act."Valuations for tech and megacap companies have moderated +after last year's selloff, though they still stand above those +of the broader market. The S&P 500 tech sector still trades at a +roughly 19% premium to the broader index, above its 7% average +of the past 10 years, according to Refinitiv Datastream.Nonetheless, some investors are reluctant to bet against +tech stocks.The Wells Fargo Investment Institute counts tech as one of +its favored U.S. sectors.The firm expects an economic downturn and believes many tech +companies have businesses that are resilient to economic +uncertainty, said Sameer Samana, a senior global market +strategist there."It’s just too important and too big a weighting not to +participate," Samana said. "But the years of handily +outperforming the S&P are probably now behind us.”(Reporting by Lewis Krauskopf; Editing by Ira Iosebashvili, +John Stonestreet and Daniel Wallis) \ No newline at end of file diff --git a/news/AAPL/2023.01.23/APPLE INC : UBS reiterates its Buy rating.txt b/news/AAPL/2023.01.23/APPLE INC : UBS reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..240c60b75eb28451900d8716472df49516ddaa82 --- /dev/null +++ b/news/AAPL/2023.01.23/APPLE INC : UBS reiterates its Buy rating.txt @@ -0,0 +1 @@ +In a research note published by David Vogt, UBS advises its customers to buy the stock. The target price continues to be set at USD 180. \ No newline at end of file diff --git a/news/AAPL/2023.01.23/Apple aims to hike India's production share to 25%.txt b/news/AAPL/2023.01.23/Apple aims to hike India's production share to 25%.txt new file mode 100644 index 0000000000000000000000000000000000000000..9e1e01864a8ec18e5c64126f74f4ff797eb318e4 --- /dev/null +++ b/news/AAPL/2023.01.23/Apple aims to hike India's production share to 25%.txt @@ -0,0 +1 @@ +That's according to India's trade minister on Monday (January 23).However, he did not say when Apple wants to meet the target.And the tech firm did not immediately respond to a request for comment.Apple has bet big on India since the country began iPhone assembly there in 2017, in line with the government's push for local manufacturing.Last year, sources told Reuters that manufacturer Foxconn plans to quadruple the workforce at its iPhone factory in India over two years.The country's electronics minister tweeted on Monday that Apple's exports from India had hit $1 billion in December.The shift comes as the iPhone maker continues to move its manufacturing away from China, due to the country's lockdown restrictions and rising tensions between Washington and Beijing. \ No newline at end of file diff --git a/news/AAPL/2023.01.23/Apple in talks with Disney, others on VR content for new headset - Bloomberg News.txt b/news/AAPL/2023.01.23/Apple in talks with Disney, others on VR content for new headset - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..191f802ef321738a8080b906e2e1f8a1bf73a7cd --- /dev/null +++ b/news/AAPL/2023.01.23/Apple in talks with Disney, others on VR content for new headset - Bloomberg News.txt @@ -0,0 +1,20 @@ +Jan 23 (Reuters) - Apple Inc was in talks with +about half a dozen media partners including Walt Disney Co +to develop virtual reality (VR) content for its mixed +reality headset, Bloomberg News reported on Monday.Developed with Sony Group Corp, the headset will +have two ultra-high-resolution displays to handle the VR aspects +and a collection of external cameras to enable an augmented +reality "pass-through mode", the report said.It added that the tech giant was working to update its own +Apple TV+ material to work with the headset.Disney, Apple and Sony did not immediately respond to +Reuters requests for comment.Earlier this month, Bloomberg reported that Apple was +planning to unveil its first mixed reality (MR) headset this +year.MR is one of three types of extended reality technologies +often associated with the metaverse. An MR headset could allow +the wearer to use a real world object to trigger a virtual world +reaction.The iPhone maker's MR headset is set to launch in this +year's spring event and will cost around $3,000, according to +the report.That would be twice as much as Meta Platforms Inc's +Quest Pro virtual and MR headset, which was launched late last +year for $1,500. +(Reporting by Tiyashi Datta in Bengaluru; Editing by Devika +Syamnath) \ No newline at end of file diff --git a/news/AAPL/2023.01.23/Apple targeting to raise India production share to 25% - minister.txt b/news/AAPL/2023.01.23/Apple targeting to raise India production share to 25% - minister.txt new file mode 100644 index 0000000000000000000000000000000000000000..ae139579ca30e4414b3b803f68bee7e846ea04e9 --- /dev/null +++ b/news/AAPL/2023.01.23/Apple targeting to raise India production share to 25% - minister.txt @@ -0,0 +1 @@ +"Apple, another success story," Piyush Goyal said. "They are already at about 5-7% of their manufacturing in India. If I am not mistaken, they are targeting to go up to 25% of their manufacturing. They launched the most recent models from India, manufactured in India." (Reporting by Shivangi Acharya, writing by Sudipto Ganguly; Editing by Krishna N. Das) \ No newline at end of file diff --git a/news/AAPL/2023.01.23/Brace yourself for a flurry of earnings.txt b/news/AAPL/2023.01.23/Brace yourself for a flurry of earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..3dee605962a5fa10502e724db28416649f160073 --- /dev/null +++ b/news/AAPL/2023.01.23/Brace yourself for a flurry of earnings.txt @@ -0,0 +1,38 @@ + +Indeed, this week there will be about 20 earnings releases from very large companies, with a capitalization of more than $100 billion. Among them, Microsoft, Johnson & Johnson or Danaher tomorrow. Tesla, ASML and Abbott on Wednesday, then Visa, LVMH, Mastercard and Intel on Thursday. Before Chevron and American Express on Friday. For the record, U.S. companies in the traditional sectors generally publish before the opening of Wall Street, while technology companies are subscribed to the post-close. In addition to ASML and LVMH, the European agenda this week includes a few other iconic companies, such as Diageo, SAP, Atlas Copco, STMicroelectronics, Sartorius Stedim Biotech and Nokia. + +Why is this important? Because corporate results and forecasts are the reality on the ground for investors who have been juggling conflicting macroeconomic currents for a few weeks. The quality of the figures will affect the morale and perception of investors. When I talk about the reality on the ground, I am talking about the reality of listed companies, which is not entirely representative of the general economic situation. If they face the same backdrop as small businesses, they have many more levers to present their situation in a favorable light. +Last week, financial markets managed to salvage their weekly performance thanks to a rebound on Friday. This did not allow the S&P500 to post a positive weekly balance, as it ended the week -0.66% lower, despite gains of 1.9% on Friday. For the Nasdaq, on the other hand, the 2.86% surge at the close brought the index back into the green for the week, with a small increase of 0.67%. American technology stocks have thus recorded their third week of growth in 2023. +Investors are relying on their favorite triple driver of the moment: a soft economic landing, a recovery in China and the normalization of monetary policy by the Fed. The appetite for risk returns at a pivotal time for the market. Investors didn't pay much attention to the hard-line fringe of the Fed's central bankers last week, who reiterated that there is still a long way to go to overcome inflation. However, they did listen to several other members of the central bank, who were clearly more relaxed and called for a moderation of monetary tightening. Hence the nice acceleration in risk assets to close the week, before entering the hard part of the corporate earnings season starting tomorrow. +The other important element of the week is the Lunar New Year festivities in Asia. Several major stock markets are closed this morning. Shanghai will not open for the week. Trading will not resume until Wednesday in Seoul and Thursday in Hong Kong. Other markets like Singapore and Taiwan are also closed for varying lengths of time. +  +Economic highlights of the day: +Few appointments on the agenda today, apart from the index of leading indicators in the United States, which is not very followed. All the agenda is here.  +The dollar is slightly up to EUR 0.9213 and GBP 0.8106. The ounce of gold fell 0.4% to USD 1918. The North Sea Brent crude rose 1.3% to USD 87.27 per barrel and U.S. light crude WTI 0.9% to USD 81.39. The yield on 10-year US debt bounced back to 3.46%. Bitcoin is trading around its best recent levels, near USD 22,800. +  +In corporate news: +* Salesforce was up nearly 4 percent in pre-market trading after Reuters reports that activist fund Elliott Management has taken a multibillion-dollar stake in the IT group. +* Goldman Sachs asset management arm will significantly reduce its $59 billion in alternative investments that are weighing on the bank's performance, an executive told Reuters. +* Western Digital and Japan's Kioxia Holdings are in advanced discussions for a possible merger that will involve a dual listing, Bloomberg reported Friday. Western Digital shares were up 1.4 percent in premarket trading. +* Apple wants India to account for as much as 25 percent of its production, up from about 5 percent to 7 percent now, India's commerce minister said Monday. +* PayPal Holdings was down 2.1% in premarket trading after the German cartel regulator announced that it was launching proceedings against the group on suspicion of possible antitrust violations. +* Baker Hughes reported a lower-than-expected fourth-quarter profit as the oilfield services company struggled with component shortages, the impact of inflation and disruptions caused by the war in Ukraine. +* Spotify Technology announced plans to cut 6% of its workforce, or about 600 positions. The stock was up 3.5% in pre-market trading. +* Silvergate Capital, a cryptocurrency specialist, assured Friday after-hours that it had limited exposure to Genesis, the latest player in the sector to file for bankruptcy. +* The Abbott Laboratories plant in Michigan, which was at the heart of the 2022 U.S. infant milk shortage due to health problems, is under investigation by the Justice Department, the Wall Street Journal reported Friday. +  +Analyst recommendations: + +Advanced Micro Devices: Barclays upgraded its recommendation to "overweight" from "equal weight" +Applied Materials: Barclays downgrades to underweight from equal-weight. PT down 18% to $90. +Associated British Foods: Deutsche Bank upgrades from hold to buy targeting GBp 2180. +Close Brothers: Investec upgrades to hold from sell. PT down 1.9% to 955 pence. +KLA Corp: Barclays downgrades to underweight from equal-weight. PT down 21% to $325. +Pendragon: Jefferies resumes its Buy rating, targeting GBp 25. +PTC: KeyBanc Capital Markets upgrades to overweight from sector weight. PT up 19% to $155. +Qualcomm: Barclays upgraded its recommendation to "overweight" from "equal weight" +Skyworks: Barclays upgrades to overweight from equal-weight. PT up 21% to $125. +Vodafone: Jefferies remains "Hold" with a price target reduced from GBp 100 to GBp 85. +Warner Music: Barclays downgrades to equal-weight from overweight. PT down 1.6% to $35. +Western Digital: Exane BNP Paribas upgrades to neutral from underperform. PT up 9.2% to $42. + diff --git a/news/AAPL/2023.01.23/Demand recovery hopes help copper towards seven-month high.txt b/news/AAPL/2023.01.23/Demand recovery hopes help copper towards seven-month high.txt new file mode 100644 index 0000000000000000000000000000000000000000..da31089d487e37540a22ae069b97568472ce9a01 --- /dev/null +++ b/news/AAPL/2023.01.23/Demand recovery hopes help copper towards seven-month high.txt @@ -0,0 +1,32 @@ +LONDON, Jan 23 (Reuters) - Copper prices rose on Monday, +heading back towards the seven-month highs seen last week on +improving prospects for demand in top consumer China, low +inventories and a weaker dollar.However, traders said activity was subdued due to the +Chinese Lunar new year holiday.Benchmark copper on the London Metal Exchange was up +0.3% at $9,349 a tonne at 1706 GMT. Prices of the metal used in +the power and construction industries rose to $9,550.50 last +week, the highest since June 6."Copper is up over 12% this year on positive sentiment +surrounding China's re-opening narrative, physical stockpile +shortages and a weaker dollar," said Giles Coghlan, an analyst +at broker HYCM."None of these look like changing much in the near term, but +it's a big week for U.S. earnings. If markets start to price in +a greater chance of a U.S. recession, that could weigh on +sentiment which could in turn impact copper's near term prices."Companies accounting for more than half the S&P 500's market +value are reporting over the next two weeks. Microsoft +results are due on Tuesday, followed by Elon Musk's Tesla +on Wednesday, while Apple and Google parent +Alphabet report next week.Also on the agenda this week is a spate of U.S. data on +growth, manufacturing and price pressures, which may yield clues +to the Federal Reserve's monetary policy intentions.Worries about supplies from Peru due to social unrest are +also helping to support copper prices.Demand for industrial metals overall is expected to pick up +soon after the Chinese holiday as companies restock ahead of a +pick-up in manufacturing activity.A lower U.S. currency makes dollar-priced metals cheaper for +holders of other currencies, which could subdue demand.Traders are watching copper inventories in LME-registered +warehouses , which at 78,300 tonnes are heading +towards 10-month lows hit last November.Cancelled warrants - metal earmarked for delivery - at 37% +of the total suggest more copper is due to leave LME warrant.In other metals, aluminium climbed 1% to $2,637, +zinc gained 0.2% to $3,427, lead slipped 1.7% to +$2,053, tin was down 0.1% to $29,505 and nickel +fell 2.2% to $28,140. +(Reporting by Pratima Desai; additional reporting by Neha +Arora; Editing by Jan Harvey and Chizu Nomiyama) \ No newline at end of file diff --git a/news/AAPL/2023.01.23/Elliott Management acquires a multi-billion dollar ...txt b/news/AAPL/2023.01.23/Elliott Management acquires a multi-billion dollar ...txt new file mode 100644 index 0000000000000000000000000000000000000000..66deef62e3bbcb9e1dbc4d21f158a73e97a4cebe --- /dev/null +++ b/news/AAPL/2023.01.23/Elliott Management acquires a multi-billion dollar ...txt @@ -0,0 +1,11 @@ + +Airbus, Santander, Barclays, Nokia, Samsung, UniCredit, Salesforce, Intel, Tesla, Ford, General Motors, Amazon, Whirlpool, Ally Financial, Discover Financial Services, Wayfair, Spotify, Tokyo Electric Power Company, Hokkaido Electric Power and Apple feature in this press review! + + + + +  + +  +  +  diff --git a/news/AAPL/2023.01.23/Global markets live: Abbott, Goldman Sachs, Alphabet, Eli Lilly, Pay...txt b/news/AAPL/2023.01.23/Global markets live: Abbott, Goldman Sachs, Alphabet, Eli Lilly, Pay...txt new file mode 100644 index 0000000000000000000000000000000000000000..64b61f120291b72a575fc2343ade9eb3c84e52bb --- /dev/null +++ b/news/AAPL/2023.01.23/Global markets live: Abbott, Goldman Sachs, Alphabet, Eli Lilly, Pay...txt @@ -0,0 +1,24 @@ + +  +  + +Abbott has confirmed that it is under investigation by the U.S. Department of Justice regarding the closure of its infant milk plant. +Elliott takes a multibillion-dollar stake in Salesforce. +Goldman Sachs asset management arm will significantly reduce its $59 billion in alternative investments that are weighing on the bank's performance, an executive told Reuters. +Apple wants India to account for as much as 25 percent of its production, up from about 5 percent to 7 percent now, India's commerce minister said Monday. +Nokia and Samsung agree on a new 5G patent licensing deal. +Alphabet, Google's parent company, announces a large-scale redundancy plan with the elimination of about 12,000 jobs worldwide. +Union Investment, one of Bayer's shareholders, criticized on Sunday the lack of initiative of the group's chairman. +Holcim is buying up aggregates activities in the United States. +Salzgitter wants to cut about 500 to 800 jobs by 2033. +The FDA won't do an accelerated review for Eli Lilly's Alzheimer's treatment. +Elon Musk announces a new, more expensive subscription to hide ads on Twitter. +The owners of UK supermarkets Asda and EG Group are reportedly considering a merger. +Saga is looking to sell its insurance underwriting business, according to the British press. +Western Digital and Japan's Kioxia Holdings are in advanced discussions for a possible merger that will involve a dual listing, Bloomberg reports. +The German cartel regulator announced that it was launching proceedings against PayPal on suspicion of possible antitrust violations. +Baker Hughes reported a lower-than-expected fourth-quarter profit as the oilfield services company struggled with component shortages, the impact of inflation and disruptions caused by the war in Ukraine. +Spotify Technology announced plans to cut 6% of its workforce, or about 600 positions. +Silvergate Capital, a cryptocurrency specialist, assured Friday after-hours that it had limited exposure to Genesis, the latest player in the sector to file for bankruptcy. + +Main earnings reports today: Baker Hughes, Secunet... All the agenda is here.  diff --git a/news/AAPL/2023.01.24/APPLE INC : Bernstein reaffirms its Neutral rating.txt b/news/AAPL/2023.01.24/APPLE INC : Bernstein reaffirms its Neutral rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..bf39a3d573c2e8843752aaab1048149849f7519c --- /dev/null +++ b/news/AAPL/2023.01.24/APPLE INC : Bernstein reaffirms its Neutral rating.txt @@ -0,0 +1 @@ +Analyst Toni Sacconaghi from Bernstein research gives the stock a Neutral rating. The target price is still set at USD 125. \ No newline at end of file diff --git a/news/AAPL/2023.01.24/Apple builds on privacy commitment by unveiling new education and awareness efforts on ...txt b/news/AAPL/2023.01.24/Apple builds on privacy commitment by unveiling new education and awareness efforts on ...txt new file mode 100644 index 0000000000000000000000000000000000000000..d436b3765a5b656ddef68b4d4fd3bf7fa91412b6 --- /dev/null +++ b/news/AAPL/2023.01.24/Apple builds on privacy commitment by unveiling new education and awareness efforts on ...txt @@ -0,0 +1,35 @@ + +In celebration of Data Privacy Day, Apple® today unveiled a new set of educational resources designed to help users take control of their data. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230124005418/en/(Photo: Business Wire) +As threats to the privacy and security of personal information are on the rise, a new Today at Apple® session will educate users on how they can safeguard their data. And to drive awareness about the importance of data privacy, Apple has also partnered with Apple TV+® Ted Lasso star Nick Mohammed in “A Day in the Life of an Average Person’s Data.” + +These education efforts build on Apple’s long track record as a privacy leader, with innovations that give people more insight into how their data is used — and more tools to protect it. As a company that believes privacy is a fundamental human right, Apple designs features like App Tracking Transparency and Privacy Nutrition Labels, which put users in the driver’s seat when it comes to their data. + +Protecting Users’ Privacy with Today at Apple + +Beginning Saturday, January 28, a new Today at Apple session, “Taking Charge of Your Privacy on iPhone,” will explore features including Mail Privacy Protection, Safety Check, Location Services, and passkeys. In this session, attendees will learn how they can customize each feature based on their individual privacy preferences. + +Today at Apple offers free creative sessions to help customers get the most out of their Apple products. This new 30-minute session will be available at all Apple Store® locations around the world, and customers can now also sign up for Group Bookings and schedule a session for their group, organization, or class. + +Anyone — regardless of experience level — can sign up for Today at Apple sessions at their local Apple Store by registering at apple.co/skills-privacy. + +“We created Today at Apple to spark creativity and enable our customers to get the most out of their Apple products and features,” said Tracey Hannelly, Apple’s senior director of Retail Engagement and Marketing. “We’re thrilled to offer this new Today at Apple session to help our customers learn more about our industry-leading privacy features as we celebrate Data Privacy Day.” + +Building in Privacy from the Ground Up + +Privacy is built into all of Apple’s products and services from the ground up, from the moment users open their devices to every time they use an app. Apple products and features include innovative privacy technologies designed to minimize how much user data anyone can access. + +This is why Safari® throws trackers off the trail. It’s why the Health app keeps user records under wraps, and why Siri® learns what the user needs rather than who they are. These are just some of the dozens of privacy features that Apple has built into the foundation of every product and every service it creates. + +Apple believes that every user should have clear insights into how their data is used, and tools to decide when to share their data and who to share it with. The whimsical short film “A Day in the Life of an Average Person’s Data” invites users to follow Apple TV+ Ted Lasso star Nick Mohammed through his average day, explaining how bad actors misuse data — and how Apple works to keep his personal information safe. + +“At Apple, we’re focused on designing devices, features, and services that keep users in control of their personal data,” said Erik Neuenschwander, Apple’s director of User Privacy. “Over the years we’ve integrated powerful privacy controls into our operating systems. This film and our new Today at Apple sessions will show users how they can take advantage of some of the features we offer, and understand how privacy is at the center of everything we do.” + +This commitment to transparency and control — and to privacy-protecting innovations across its technology — gives Apple users more choice and more control over their personal information. On Data Privacy Day and every day, teams across Apple are pushing this work forward. Learn more about Apple’s privacy features by visiting apple.com/privacy. + +Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it. + +NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or call Apple’s Media Helpline at (408) 974-2042. + +© 2023 Apple Inc. All rights reserved. Apple, the Apple logo, Today at Apple, Apple TV+, Apple Store, Safari, and Siri are trademarks of Apple. Other company and product names may be trademarks of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230124005418/en/ \ No newline at end of file diff --git a/news/AAPL/2023.01.24/Big banks vs. PayPal and Apple Pay, Google cuts exe...txt b/news/AAPL/2023.01.24/Big banks vs. PayPal and Apple Pay, Google cuts exe...txt new file mode 100644 index 0000000000000000000000000000000000000000..bb14dd3131e84c02d5b30fe785b0c49deee8acaa --- /dev/null +++ b/news/AAPL/2023.01.24/Big banks vs. PayPal and Apple Pay, Google cuts exe...txt @@ -0,0 +1,9 @@ + +BASF, Gazprom, Associated British Foods, Dignity,, BP plc, Orsted, Grenergy Renovables, Inditex, Logitech, Juventus, Ford, Credit Suisse, PayPal, Apple, Wells Fargo, Bank of America, JPMorgan, Visa, Mastercard, Newell Brands, Rivian, Alphabet, Stanley Black & Decker, Hershey, Mondelez, Dai Nippon Printing and Honda feature in this press review! + + + + +  + +  diff --git a/news/AAPL/2023.01.24/Factbox-Biden administration continues Trump antitrust focus on tech giants.txt b/news/AAPL/2023.01.24/Factbox-Biden administration continues Trump antitrust focus on tech giants.txt new file mode 100644 index 0000000000000000000000000000000000000000..e28d244dea1d460456e46df8ab4b1215805ca2c7 --- /dev/null +++ b/news/AAPL/2023.01.24/Factbox-Biden administration continues Trump antitrust focus on tech giants.txt @@ -0,0 +1 @@ +Following are major U.S. government lawsuits and investigations regarding Big Tech.Google: The U.S. Justice Department sued Google on Tuesday, accusing the company of abusing its dominance of the digital advertising business and saying Google should be forced to sell its ad manager suite, in the government's latest attempt to slice away a portion of Big Tech's power. The U.S. Justice Department had previously sued Google in October 2020, accusing the $1 trillion company of illegally using its market muscle to hobble rivals in search. This case is scheduled to go to trial in September.Dozens of U.S. states and territories filed a broader version of the Justice Department lawsuit in December 2020. The state complaint accuses Google of abusing its market power to try to make its search engine as dominant inside cars, TVs and speakers as it is in phones. The same judge is hearing both the federal and state lawsuits in D.C. federal court. Also in 2020, Texas, backed by nine other states, filed a lawsuit against Google, accusing the internet search company of breaking antitrust law in how it runs its online advertising business. The case was moved to New York, to be heard with other, similar cases.The Justice Department is also probing Google to determine if bundling its Maps product with other Google software illegally stifles competition. Facebook:The Federal Trade Commission and a big group of states filed separate lawsuits to ask a court to force Meta Platforms to sell WhatsApp and Instagram, saying the social media company used a "buy or bury" strategy to snap up rivals and keep smaller competitors at bay. The judge threw out the state lawsuit on the grounds that they had waited too long to bring their case. The states have appealed while the FTC complaint goes forward. Apple: The Justice Department has a probe into Apple underway, which was revealed in June 2019. It appears to focus on Apple's app store. Some app developers have accused Apple of introducing new products very similar to existing apps created by other developers and sold in the Apple Store, and then trying to banish the older apps from the store because they compete with Apple's new product. Apple says it seeks to have only the highest-quality products in the app store.Amazon: In its investigation of Amazon, the FTC is believed to be probing the inherent conflict of interest of Amazon competing with small sellers on its marketplace platform, including allegations that it used information from sellers on its platform to decide what products it would introduce. (Reporting by Diane Bartz; Editing by Lisa Shumaker) \ No newline at end of file diff --git a/news/AAPL/2023.01.24/NYC is on the verge of setting a no-snow record.txt b/news/AAPL/2023.01.24/NYC is on the verge of setting a no-snow record.txt new file mode 100644 index 0000000000000000000000000000000000000000..c480311be00ed05ab776308aa407f9d112e89f4b --- /dev/null +++ b/news/AAPL/2023.01.24/NYC is on the verge of setting a no-snow record.txt @@ -0,0 +1 @@ +Winter is well underway, but where is the snow?"...to walk through Central Park today, it's glorious."New York City has gone 320 consecutive days without snowfall, according to the national weather service.And if it can go until Sunday - it will set a record for the latest winter snow in the Big Apple since January 29, 1973."I think we need to look back at the historical record of snowfall to get a better sense of really how rare this is"Andrew Kruczkiewicz is with Columbia University's Climate School and International Research Institute for Climate and Society. He told Reuters a warming climate combined with natural swings in weather might explain the balmy winter."It's a combination of rising temperatures related to climate change and also natural variability that happens. I actually look back at the historical record of snowfall, specifically like decade by decade, and we do see these shifts, decade, decade by decade trends in snowfall. So, I think asking questions about the links to climate change, yes, we need to do that. We also need to look at natural variability and the role that plays."A New York City winter typically looks like this: thick white snow blanketing the sidewalks and water freezing in fountains.This year, the first 17 days of January were the 3rd warmest on record with an average temperature of 43.7 degrees Fahrenheit, according to the National Weather Service.While the city has seen a few light dustings and flurries, not enough has accumulated on the ground to meet the point one-inch threshold of what constitutes a snowfall.But even if the snow is late, that doesn't mean it won't arrive."It is definitely rare, but we have a lot of, we have a lot of winter left. You know, February is actually our snowiest month here in New York City, here in Central Park. So, it is important to keep in mind things could change very quickly."While January may be winding down, about two months of winter still remain. \ No newline at end of file diff --git a/news/AAPL/2023.01.24/Snow go: New York City's winter is missing the white stuff.txt b/news/AAPL/2023.01.24/Snow go: New York City's winter is missing the white stuff.txt new file mode 100644 index 0000000000000000000000000000000000000000..c43616ddb1fc4a6ce5fe956e2d4af512b2436308 --- /dev/null +++ b/news/AAPL/2023.01.24/Snow go: New York City's winter is missing the white stuff.txt @@ -0,0 +1 @@ +Central Park is green. The sun is out. And ducks frolic in ice-free ponds.Although an epic blizzard hit western New York state just after Christmas, the Big Apple itself has gone 230 days without snow, according to the National Weather Service. It is now approaching the record latest snow for the city - Jan. 29, which dates back to 1973.Some out in the park on Tuesday were perfectly happy about that."When it is snowing here and you're a visitor, it's beautiful... very pretty," said Melody Johnson, a regular visitor from Australia. "But to walk through Central Park today, it's glorious."While there have been flurries, not enough has accumulated on the ground to meet the 0.1 inch threshold of what constitutes a snowfall.According to Andrew Kruczkiewicz from Columbia University's Climate School and International Research Institute for Climate and Society, the delayed snowfall can be attributed both to rising temperatures related to climate change and natural variability.But, he warned, winter is far from over."February is actually our snowiest month here in New York City, here in Central Park," Kruczkiewicz said. "So, it is important to keep in mind things could change very quickly." (Reporting by Christine Kiernan; Writing by Rosalba O'Brien; Editing by Daniel Wallis)By Christine Kiernan \ No newline at end of file diff --git a/news/AAPL/2023.01.24/Taiwan's Foxconn and others accelerate investment in Mexico - Nikkei.txt b/news/AAPL/2023.01.24/Taiwan's Foxconn and others accelerate investment in Mexico - Nikkei.txt new file mode 100644 index 0000000000000000000000000000000000000000..fdb3f4876a5dd87bd7ce7f241a0b2cf1ad2cd84e --- /dev/null +++ b/news/AAPL/2023.01.24/Taiwan's Foxconn and others accelerate investment in Mexico - Nikkei.txt @@ -0,0 +1 @@ +Mexico is one of the key locations for the Foxconn's strategic investments this year, according to the report, citing a person with direct knowledge of the matter. Foxconn, the world's biggest contract electronics manufacturer and a key iPhone assembler, will have local manufacturing options in Ohio, Wisconsin and Mexico for EV clients, the report added. (Reporting by Shivani Tanna in Bengaluru; Editing by Rashmi Aich) \ No newline at end of file diff --git a/news/AAPL/2023.01.24/Three killed in Washington state store shooting, suspect at large.txt b/news/AAPL/2023.01.24/Three killed in Washington state store shooting, suspect at large.txt new file mode 100644 index 0000000000000000000000000000000000000000..27e4574e34a19340e4effa5fc99e36d967b6b0a7 --- /dev/null +++ b/news/AAPL/2023.01.24/Three killed in Washington state store shooting, suspect at large.txt @@ -0,0 +1 @@ +Police were called to a Circle K in Yakima, Washington, about 3:30 am local time when three people, who have not been identified, were found dead, Chief Matt Murray told reporters. Two victims were shot inside the store, while a third was shot outside in what authorities said appeared to be a random act of violence.A motive is unknown and the male suspect is considered a danger to the community, he said. "It appears to be a random situation. There was no apparent conflict between the parties," Murray said. "The male just walked in and started shooting."This week, the United States has been horrified by back-to-back mass shootings in California, which left 18 victims dead. After opening fire in the store, the suspect ran across the street and shot into a vehicle, forcing the driver to move to the passenger seat. The suspect stole the car, described as a gray or silver Chrysler sedan, and fled, police said.The condition of the driver, including whether he was wounded, was unknown. Law enforcement collected security footage and accounts of eyewitnesses from the scene as part of an investigation. The police department released a photo on social media of a man wearing all black, including a hat, hoodie and jeans, and white Nike shoes.Yakima is a city of about 97,000 residents in Washington's Yamika Valley, an agricultural region known for apple crops and wineries. (Reporting by Tyler Clifford; Editing by David Gregorio) \ No newline at end of file diff --git a/news/AAPL/2023.01.24/U.S. targets Google's online ad business monopoly in latest Big Tech lawsuit.txt b/news/AAPL/2023.01.24/U.S. targets Google's online ad business monopoly in latest Big Tech lawsuit.txt new file mode 100644 index 0000000000000000000000000000000000000000..a3cab28ebd99a518b7ed0f0a7db1bf5a3f4346ad --- /dev/null +++ b/news/AAPL/2023.01.24/U.S. targets Google's online ad business monopoly in latest Big Tech lawsuit.txt @@ -0,0 +1,74 @@ +WASHINGTON, Jan 24 (Reuters) - The U.S. Justice +Department accused Alphabet Inc's Google on Tuesday of +abusing its dominance in digital advertising, threatening to +dismantle a key business at the heart of one of Silicon Valley's +most successful internet companies.The government said Google should be forced to sell its ad +manager suite, tackling a business that generated about 12 +percent of Google's revenues in 2021, but also plays a vital +role in the search engine and cloud company's overall sales."Google has used anticompetitive, exclusionary, and unlawful +means to eliminate or severely diminish any threat to its +dominance over digital advertising technologies," the antitrust +complaint said.Google, whose advertising business is responsible for about +80% of its revenue, said the government was "doubling down on a +flawed argument that would slow innovation, raise advertising +fees, and make it harder for thousands of small businesses and +publishers to grow."The federal government has said its Big Tech investigations +and lawsuits are aimed at leveling the playing field for smaller +rivals to a group of powerful companies that includes Amazon.com +, Facebook owner Meta Platforms and Apple Inc +."By suing Google for monopolizing advertising technology, +the DOJ today aims at the heart of the internet giant’s power," +said Charlotte Slaiman, competition policy director at Public +Knowledge. "The complaint lays out the many anticompetitive +strategies from Google that have held our internet ecosystem +back."Tuesday's lawsuit by the administration of President Joe +Biden, a Democrat, follows a 2020 antitrust lawsuit brought +against Google during the term of Donald Trump, a Republican.The 2020 lawsuit alleged violations of antitrust law in how +the company acquires or maintains its dominance with its +monopoly in online search and is scheduled to go to trial in +September.EIGHT STATES IN LAWSUITEight states joined Tuesday's lawsuit, including Google's +home state of California.California State Attorney General Rob Bonta said that +Google's practices have "stifled creativity in a space where +innovation is crucial."Colorado Attorney General Phil Weiser said that Google's +dominance had led to higher fees for advertisers and less money +for publishers with ad space to offer. "We are taking action by +filing this lawsuit to unwind Google’s monopoly and restore +competition to the digital advertising business," he said in a +statement.Google shares were down 1.9 percent on Tuesday.In addition to its well-known search, which is free, Google +makes revenue through its interlocking ad tech businesses. The +government asked for the divestiture of the Google Ad Manager +suite, including Google's ad exchange, AdX.Google Ad Manager is a suite of tools including one that +allows websites to offer advertising space for sale and an +exchange that serves a marketplace that automatically matches +advertisers with those publishers.Advertisers and website publishers have complained that +Google has not been transparent about where ad dollars go, +specifically how much goes to publishers and how much to Google.The lawsuit raises concerns about certain products in the ad +tech stack, where publishers and advertisers use Google's tools +to buy and sell ad space on other websites. That business was +about $31.7 billion in 2021 or 12.3 percent of Google’s total +revenue. About 70% of that revenue goes to publishers.An ad tech divestiture "may not be a game changer but it +could be sneaky important to Google's ad targeting capability," +said Paul Gallant with the Cowen Washington Research Group."It connects to all of Google's other businesses and +ties them together. I think Google might be more concerned about +losing ad tech down the road than people might think," Gallant +said.The company made a series of purchases, including +DoubleClick in 2008 and AdMob in 2009, to help make it a +dominant player in online advertising.'PROJECT POIROT'While Google remains the market leader by a long shot, +its share of the U.S. digital ad revenue has been eroding, +falling to 28.8% last year from 36.7% in 2016, according to +Insider Intelligence.The Justice Department asked for a jury to decide the case, +which was filed in the U.S. District Court for the Eastern +District of Virginia.The lawsuit lays out a number of Google's attempts to +dominate the advertising market.The complaint discussed header bidding, which was a way that +companies could bypass Google to bid on ad space on websites.It lays out a series of projects including one dubbed +"Project Poirot" named after Agatha Christie’s master detective, +Hercule Poirot. The project "was designed to identify and +respond effectively to ad exchanges that had adopted header +bidding technology."The 149-page complaint said Google doubled down after +Project Poirot's initial success in manipulating its +advertisers' spending to reduce competition from rival ad +exchanges. Rivals AppNexus/Xandr lost 31% of DV360 advertiser +spending, Rubicon would lose 22%, OpenX would lose 42%, and +Pubmatic would lose 26%, the complaint said.(Reporting by Diane Bartz and David Shepardson; additional +reporting by Sheila Dang; editing by Chris Sanders and Grant +McCool) \ No newline at end of file diff --git a/news/AAPL/2023.01.24/Verizon quarterly wireless subscriber additions top estimates.txt b/news/AAPL/2023.01.24/Verizon quarterly wireless subscriber additions top estimates.txt new file mode 100644 index 0000000000000000000000000000000000000000..7e066741ad30901a651835704503b936ec7f92ff --- /dev/null +++ b/news/AAPL/2023.01.24/Verizon quarterly wireless subscriber additions top estimates.txt @@ -0,0 +1 @@ +After reporting lower wireless sign-ups compared to rivals AT&T and T-Mobile in 2022, Verizon has picked up pace again, thanks to promotional offers and Apple's flagship iPhone launch. Verizon, whose plans are the most expensive among U.S. peers, added 217,000 net new monthly bill paying wireless phone subscribers in the fourth quarter, higher than Factset estimates of 200,400 additions.The company's net income rose 41.4% to $6.7 billion in the quarter. Excluding items, Verizon earned $1.19 per share. (Reporting by Eva Mathews and Samrhitha Arunasalam in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AAPL/2023.01.25/Apple Is Making Changes To Its Covid-19 Policy, Will Stop Mandating Employees Test Befo...txt b/news/AAPL/2023.01.25/Apple Is Making Changes To Its Covid-19 Policy, Will Stop Mandating Employees Test Befo...txt new file mode 100644 index 0000000000000000000000000000000000000000..4b88091069d07b9a519cb48474e8cac18db89639 --- /dev/null +++ b/news/AAPL/2023.01.25/Apple Is Making Changes To Its Covid-19 Policy, Will Stop Mandating Employees Test Befo...txt @@ -0,0 +1,4 @@ +Jan 25 (Reuters) -* APPLE IS MAKING CHANGES TO ITS COVID-19 POLICY, WILL STOP +MANDATING EMPLOYEES TEST BEFORE COMING INTO THE OFFICE - +PLATFORMER REPORTER TWEET +Source text: https://bit.ly/3HxGFT1 \ No newline at end of file diff --git a/news/AAPL/2023.01.25/Google says U.S. Justice Department complaint is 'without merit'.txt b/news/AAPL/2023.01.25/Google says U.S. Justice Department complaint is 'without merit'.txt new file mode 100644 index 0000000000000000000000000000000000000000..1138b3675f90fb87ed59bb2fab5280323a85bc54 --- /dev/null +++ b/news/AAPL/2023.01.25/Google says U.S. Justice Department complaint is 'without merit'.txt @@ -0,0 +1 @@ +The company also added it will "defend itself vigorously".The government on Tuesday said Google should be forced to sell its ad manager suite, tackling a business that generated about 12% of Google's revenue in 2021 while also playing a vital role in the search engine and cloud company's overall sales.Google, which depends on its advertising business for about 80% of its revenue, said the government was "doubling down on a flawed argument that would slow innovation, raise advertising fees and make it harder for thousands of small businesses and publishers to grow."The federal government has said its Big Tech investigations and lawsuits are aimed at leveling the playing field for smaller rivals who are up against a group of powerful companies that include Amazon.com, Facebook-owner Meta Platforms and Apple Inc."In contrast with prior cases/investigations against Google's ad tech biz, we view the DOJ complaint as fairly substantive and preempting some potential Google lines of defense," said Wells Fargo analyst Brian Fitzgerald. (Reporting by Tiyashi Datta and Nivedita Balu in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/AAPL/2023.01.25/Marketmind: Running out of breath.txt b/news/AAPL/2023.01.25/Marketmind: Running out of breath.txt new file mode 100644 index 0000000000000000000000000000000000000000..68b6e8481233b53ce9d952651323a0a38b2e24d6 --- /dev/null +++ b/news/AAPL/2023.01.25/Marketmind: Running out of breath.txt @@ -0,0 +1 @@ +After a strong start to the year, fuelled by hopes that the outlook for the world economy was not shaping up as bad as expected a few months ago, stocks are finally taking a breather.Asian equities held steady on Wednesday near seven-month highs after a mixed session on Wall Street.On the corporate front, Barclays CEO C.S. Venkatakrishnan appointed former Credit Suisse dealmaker Cathal Deasy as co-head of investment banking with a view to grow the business and an eye for succession.And a group of minority shareholders that appealed against the French government's full nationalisation of energy giant EDF dropped the motion on the eve of the hearing.On a thin day for economic data, focus will be on U.K. producer prices and the German IFO.European stock futures dipped 0.3%, indicating a weaker start for markets, while U.S. stock futures shed 0.5%.Revenue at Europe's largest companies is expected to have risen by just 0.9% in the fourth quarter, Refinitiv I/B/E/S data showed on Tuesday.The forecast, which tracks companies listed on the pan-European STOXX 600 benchmark index, represents a drop from last week when analysts expected revenue growth of 4%.Investment strategists at Standard Chartered say it is time to fade the rally seen in European stocks and the euro since the lows of September.They say an unusually warm winter has allayed fears of wide-spread energy shortages and rationing in Europe. China's economic reopening has been another tailwind for European exporters' prospects.But they outlined many challenges for European equities, including stretched technicals and an increasingly hawkish central bank policy.Meanwhile, Microsoft kicked off the U.S. tech season with a sobering outlook and forecast that third-quarter revenue in its cloud business would come just shy of market forecasts.The 2% increase in the last quarter's revenue, the slowest in more than five years, signalled tougher times for tech companies just as Apple and Google-parent Alphabet are due to report earnings next week.Key developments that could influence markets on Wednesday: Economic data: U.K. December producer prices, Germany January IfoEuropean results: Christian Dior U.S. results: IBM, AT&T, Boeing, Whirlpool (Reporting by Anshuman Daga; Editing by Christopher Cushing) \ No newline at end of file diff --git a/news/AAPL/2023.01.25/Nasdaq futures drop 1% after Microsoft's bleak outlook.txt b/news/AAPL/2023.01.25/Nasdaq futures drop 1% after Microsoft's bleak outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..0b02fbc299950538120455b2c9202495bbb824b1 --- /dev/null +++ b/news/AAPL/2023.01.25/Nasdaq futures drop 1% after Microsoft's bleak outlook.txt @@ -0,0 +1 @@ +Microsoft Corp shares fell 2.1% in premarket trading after it warned that growth in its cloud business, which helped the company meet analysts' expectations in the second quarter, could stall, while its PC unit continues to struggle. Other large growth stocks including Amazon.com Inc, Tesla Inc, Apple Inc and Alphabet Inc also dropped between 1% and 2%. Growth stocks have enjoyed a bounce in January after a battering last year, with investors now focused on earnings reports to assess the impact of the Federal Reserve's rate hikes and to gauge whether the renewed enthusiasm for such stocks will be sustained."Microsoft is dealing with a marked slowdown in personal computing revenues, which reflects the incredibly challenging consumer environment," Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown wrote in a client note. "Despite renewed hope that interest rate hikes might be slowed and peak inflation coming into view, buying a new laptop and the software that comes with it is simply not a priority for many people right now." Microsoft was also hit with a networking outage that disrupted its cloud platform, Azure, along with services such as Teams and Outlook, potentially affecting millions of users globally. At 5:30 a.m. ET, Dow e-minis were down 215 points, or 0.64%, S&P 500 e-minis were down 31.75 points, or 0.79%, and Nasdaq 100 e-minis were down 140.25 points, or 1.18%. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AAPL/2023.01.25/Wall St falls as Microsoft outlook dents tech stocks, earnings disappoint.txt b/news/AAPL/2023.01.25/Wall St falls as Microsoft outlook dents tech stocks, earnings disappoint.txt new file mode 100644 index 0000000000000000000000000000000000000000..7f33cca16cd022dd399c3581f968f9b9ecaa3da2 --- /dev/null +++ b/news/AAPL/2023.01.25/Wall St falls as Microsoft outlook dents tech stocks, earnings disappoint.txt @@ -0,0 +1,46 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Microsoft falls on dismal Q3 cloud outlook*Salesforce, Amazon, other cloud-based stocks drop*Boeing slides after missing Q4 revenue estimates*Indexes down: Nasdaq 1.2%, S&P 0.9%, Dow 0.6%Jan 25 (Reuters) - Wall Street benchmarks dropped on +Wednesday as a decline in technology stocks after Microsoft's +downbeat forecast and a bleak quarterly report from Boeing +fanned fears of a recession.Shares of Microsoft Corp fell 1.2% after it warned +that growth in its lucrative cloud business could stall, while +its PC unit continues to struggle.Amazon.com Inc, Salesforce Inc and +ServiceNow Inc, which have large cloud businesses, fell +about 1% each. The S&P 500 technology index shed 1.3%.Other major growth stocks, including Apple Inc, +Alphabet Inc and Tesla Inc, also dropped +between 0.4% and 3%.Growth stocks, however, have enjoyed a bounce in January +after a battering last year, with investors now focused on +earnings reports to assess the impact of the Federal Reserve's +rate hikes and to gauge whether the renewed enthusiasm for these +stocks will be sustained."One of the most resilient sectors in the economy (tech) is +starting to feel the softness coming through," said Larry Adam, +chief investment officer at Raymond James."Microsoft particularly talked about December - and that's +another shot across the bow to the Fed that they make sure they +do not overtighten and send the economy into a more severe +recession than the one we're getting."An overwhelming majority of traders expect the Federal +Reserve to raise interest rates by another 25 basis points in +its meeting next week.They now see the terminal rate peaking at 4.91% in June, +even as Fed policymakers have repeatedly backed taking rates +above the 5% level.Data later in the week is likely to show December personal +consumption expenditure index (PCE) fell 0.1% from a 0.1% rise +in the prior month. Fourth quarter GDP advance numbers are also +awaited.Dow Jones Industrial Average constituent, Boeing Co +slipped 1.2% as the planemaker's losses widened in 2022 +and it missed fourth-quarter revenue estimates.At 12:21 p.m. ET, the Dow was down 208.76 points, or 0.62%, +at 33,525.20, the S&P 500 was down 34.45 points, or +0.86%, at 3,982.50, and the Nasdaq Composite was down +139.09 points, or 1.23%, at 11,195.19.Abbott Laboratories fell 1.9%, weighed down by +lower-than-expected medical device sales in the fourth quarter.In a bright spot, AT&T Inc jumped 5.4% on +higher-than-expected quarterly subscriber additions, while +Textron Inc added 0.9% as its revenue beat estimates.News Corp jumped 6.1%, leading gains on the S&P +500, after Rupert Murdoch withdrew a proposal to reunite News +Corp and Fox Corp.Meanwhile, the New York Stock Exchange said a manual error +triggered a technical issue on Tuesday, preventing the opening +auctions in some listed stocks, leading to widespread confusion +and attracting a review from the U.S. Securities and Exchange +Commission.Declining issues outnumbered advancers for a 2.20-to-1 ratio +on the NYSE and for a 1.92-to-1 ratio on the Nasdaq.The S&P index recorded two new 52-week highs and one new +low, while the Nasdaq recorded 45 new highs and 25 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Additional reporting by Medha Singh; Editing by Vinay +Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/AAPL/2023.01.26/Federal Circuit Issues Opinion Rendering Patent Claims Unenforceable Due To Prosecution...txt b/news/AAPL/2023.01.26/Federal Circuit Issues Opinion Rendering Patent Claims Unenforceable Due To Prosecution...txt new file mode 100644 index 0000000000000000000000000000000000000000..a7435e801e06ab4eb40151f5e440fcab190b11a3 --- /dev/null +++ b/news/AAPL/2023.01.26/Federal Circuit Issues Opinion Rendering Patent Claims Unenforceable Due To Prosecution...txt @@ -0,0 +1,12 @@ +In a January 20, 2023 opinion in Personalized Media Communications, LLC v. Apple Inc., 21-2275 the Federal Circuit Court of Appeals upheld an Eastern District of Texas District Court ruling finding plaintiff's PMC's patent unenforceable due to prosecution laches.Immediately prior to changes in U.S. law that changed the term of a U.S. patent from 17 years from the date of issuance to 20 years from the application's priority date, the plaintiff PMC filed 328 applications, referred to as GATT-Bubble applications. A purpose of these filings was to have a large number of applications for which the Applicant could extend the prosecution to apply against later developed technology. Although the law allows pending applications to be amended to cover later developed technology, Gentry Gallery, Inc. v. Berkline Corp., 134 F.3d 1473, 1479 (Fed. Cir. 1998), the district court found that PMC's patents were unenforceable due to prosecution laches.At trial, a jury had awarded PMC over $308 million in reasonable royalties against Apple. In a separate bench trial, the district court found PMC's '091 patent unenforceable based on prosecution laches. J.A. 1-3. Relying on the Federal Circuit's opinion in Hyatt v. Hirshfeld, 998 F.3d 1347, 1359-62 (Fed. Cir. 2021), the district court determined that PMC engaged in an unreasonable and unexplained delay amounting to an egregious abuse of the statutory patent system. The Federal Circuit upheld this determination.The Federal Circuit held that Prosecution laches requires proving two elements:Concerning delay, the district court faulted PMC for waiting until 2003 - 16 years after the priority date of the '091 patent and nearly eight years after PMC filed its 328 GATT-bubble applications - to include the subject encryption and decryption limitations to the claims. The Federal Circuit upheld the district court's conclusion that "the only rational explanation for PMC's approach to prosecution is a deliberate strategy of delay" and that "PMC's actions were a conscious and egregious misuse of the statutory patent system."Concerning prejudice, the court held that an accused infringer can establish prejudice by proving that it "invested in, worked on, or used the claimed technology during the period of delay." The district court considered whether PMC's period of delay overlapped with Apple's investment in its technology. The district court determined that, well after 2003, PMC was still implementing its express strategy of delay to "reserve [its] patent till the trade independently develops, and then [] pounce upon it for a full term." Thus, the court agreed with Apple that Apple had been prejudiced by the PMC delay. This finding was also affirmed by the Court of Appeals.Although the facts of this case are directed to pre-GATT filings, the analysis concerning unreasonable delay and prejudice could be applicable to prosecution of post-GATT filings.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Lloyd Smith +Buchanan Ingersoll & Rooney PC +1737 King Street, Suite 500 +Alexandria +VA 22314-2727 +UNITED STATES +Tel: 412 562 8800 +Fax: 412 562 1041 +E-mail: Kristin.Tyhurst@bipc.com +URL: www.bipc.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AAPL/2023.01.26/LG Display posts 3rd consecutive quarterly loss on weak panel demand.txt b/news/AAPL/2023.01.26/LG Display posts 3rd consecutive quarterly loss on weak panel demand.txt new file mode 100644 index 0000000000000000000000000000000000000000..6d417b0964caa2f5210859ed06b0a2270ff53d59 --- /dev/null +++ b/news/AAPL/2023.01.26/LG Display posts 3rd consecutive quarterly loss on weak panel demand.txt @@ -0,0 +1 @@ +The Apple Inc supplier posted a 876 billion won ($711.13 million) operating loss for the October-December quarter, compared with a profit of 476 billion won in the same period a year earlier. It missed an average forecast of a 797 billion won loss from 10 analysts polled by Refinitiv SmartEstimate, which is weighted toward analysts that are more consistently accurate. ($1 = 1,231.8400 won) (Reporting by Joyce Lee) \ No newline at end of file diff --git a/news/AAPL/2023.01.26/STMicroelectronics lifts fourth quarter sales.txt b/news/AAPL/2023.01.26/STMicroelectronics lifts fourth quarter sales.txt new file mode 100644 index 0000000000000000000000000000000000000000..3c0d8d06b1813271df23c257d73286787bd9b7db --- /dev/null +++ b/news/AAPL/2023.01.26/STMicroelectronics lifts fourth quarter sales.txt @@ -0,0 +1 @@ +The firm's net revenue rose to $4.42 billon compared to $4.32 billion the previous quarter. Analysts had on average expected sales of $4.32 billion, according to IBES data from Refinitiv.STMicro, whose biggest clients include iPhone maker Apple and electric carmaker Tesla, hit its own revenue target for the year, reaching $16.1 billion. The firm made fourth-quarter diluted earnings per share of $1.32, beating analysts' average estimate of $1.09, according to IBES data from Refinitiv. Rival Texas Instruments forecast first quarter revenue and profit below Wall Street targets on Wednesday.ST Micro said on Thursday, due to strong demand and increased manufacturing capacity, it expects full year revenues to be in the range of $16.8 billion to $17.8 billion. The company has previously targeted full-year revenues of $20 billion by 2027. (Reporting by Martin Coulter; Editing by Matt Scuffham)By Martin Coulter \ No newline at end of file diff --git a/news/AAPL/2023.01.26/South Africa's power cuts leave fruit farmers in despair.txt b/news/AAPL/2023.01.26/South Africa's power cuts leave fruit farmers in despair.txt new file mode 100644 index 0000000000000000000000000000000000000000..6379be422f761d4d457aa0875994eb8b5b9d44dd --- /dev/null +++ b/news/AAPL/2023.01.26/South Africa's power cuts leave fruit farmers in despair.txt @@ -0,0 +1 @@ +Situated in Ceres, one of the country's major fruit growing regions around 120km (75 miles) north east of Cape Town, the century-old family farm "Remhoogte" needs a steady electricity supply for an automated irrigation pump network that sprays thousands of trees heavy with fruit.Too little water during the irrigation peak, from end of November to mid-March, affects the size and quality of a wide variety of apple and pear cultivars, hitting produce and revenue as only premier grades are shipped to the European Union, UK, China and the Middle East."The trees have a certain need for water and if they don't get that water it's going to affect the quality negatively and then you can't export the fruit," Du Toit said.A 10% reduction in exports from the farm may result in some 7.5 million rand ($435,600) lost revenue, Du Toit said, with lower grades destined for the domestic market and juice processors.Daily power outages, which utility Eskom anticipates would continue for two more years at least, have hammered economic growth, fuelling widespread discontent among businesses and households."Many farmers said this is their last chance and if something doesn't happen very quickly they are going to sell their farms ... It is a huge concern," Du Toit said as the steady throb of a diesel generator kicked in.The fruit industry wasn't the only one feeling the squeeze.Roughly 20% of maize, 15% of soybeans, 34% of sugarcane and nearly half of South Africa's wheat production was under irrigation, said Wandile Sihlobo, chief economist at the Agricultural Business Chamber of South Africa, adding farmers had raised concerns about power cuts hitting output."IMPOSSIBLE TO FARM"Cape Town vegetable farmer Carl Gorgens has given up on about half of his farming area because he cannot irrigate as frequently as needed."It's impossible to farm like this, to farm half the amount of seedlings in a season, when you're supplying supermarkets. I might as well stop and close the doors," said Gorgens.Power outages are the latest setback following a drought, the COVID-19 pandemic, bottlenecks at ports and higher commodity prices, such as fuel and fertilizer, due to the Russia-Ukraine war, Du Toit said.At the Bella Frutta fruit exporters' packaging warehouse in Ceres, two massive diesel generators help keep conveyor belts moving and cold storage units at -1.5 degrees Celsius.Earlier in January, the pack house burnt through 5,000 litres of diesel in just under three days to keep operations running."We struggle to keep a constant cooling supply to our cold rooms," said Fransu Viljoen, engineering manager at Bella Frutta, adding it was frustrating to get up before the crack of dawn to reset the generators.($1 = 17.2171 rand) (Reporting by Wendell Roelf and Kopano Gumbi; additional reporting by Esa Alexander in Cape Town; Editing by Olivia Kumwenda-Mtambo and Vin Shahrestani)By Wendell Roelf and Kopano Gumbi \ No newline at end of file diff --git a/news/AAPL/2023.01.26/Stumbling Intel, seeing AMD gain ground, says it will recover balance.txt b/news/AAPL/2023.01.26/Stumbling Intel, seeing AMD gain ground, says it will recover balance.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d9afe92da1d8b53a16af6348575941860a456ac --- /dev/null +++ b/news/AAPL/2023.01.26/Stumbling Intel, seeing AMD gain ground, says it will recover balance.txt @@ -0,0 +1 @@ +The company shocked the market on Thursday with a revenue outlook that was behind Wall Street estimates by about $3 billion. The weakness of the global economy only makes Intel's challenges more difficult.Intel is still the three hundred pound gorilla in the market of microprocessors, called central processing units (CPUs), the brains of computers, and it says it has passed through the worst of a revamp under a new chief executive."We stumbled, right? We lost share; we lost momentum. We think that stabilizes this year," Chief Executive Pat Gelsinger told investors on a conference call.Intel still dominates the markets for PC and server processing chips, with a market share greater than 70%, tech research firm IDC calculated. But that is down from more than 90% in those markets in 2017."Someone going from 1% to 13% is significant. It tells you that now there's a viable second competitor in the server processor market, who has momentum and is gaining momentum," said IDC analyst Shane Rau.That competitor is Advanced Micro Devices which under the leadership of Chief Executive Lisa Su has come back from the brink of bankruptcy and has been taking business away from Intel quarter after quarter. AMD's market capitalization is about the same as Intel's, a sign of investor confidence in AMD's growth prospects.Rau said Intel and AMD would both face macroeconomic headwinds and challenges related to rolling out their newest chips, but that Intel also had the bigger issue of a chip glut to deal with. "I don't think Intel is in a position yet to start recovering share" in the market, he said.Customers of processors cannot launch products if new chip designs are late, and Intel has stumbled on delivering its latest data-center chip, code named Sapphire Rapids."Sapphire Rapids was about two years late. And so because of that, AMD has leapfrogged them," said Bob O'Donnell of TECHnalysis Research.Worse for Intel, the benchmarks published by the two companies show that AMD's latest server chip outperforms Sapphire Rapids on "general purpose workloads", according to Bernstein analyst Stacy Rasgon. Intel has rising competition, too, as graphics chip maker Nvidia branches into central processors and former processor customers, including Apple and Amazon, design their own chips.Gelsinger said that 2023 would be a year of stabilizing then re-acceleration. Intel had taken some painful steps and now needed to execute on a good plan, he said. Some agree. "Intel's turnaround is taking some time, exacerbated by the economy, but I believe its plan is working," said Glenn O'Donnell, analyst at Forrester Research. "It is delivering on new products and its manufacturing is ramping up with agreements from other chipmakers to use Intel's manufacturing capacity."Investors, meanwhile, are looking for the next piece of evidence: AMD will report its results on Tuesday. (Reporting By Jane Lanhee Lee and Chavi Mehta; Editing by Peter Henderson and Bradley Perrett)By Jane Lanhee Lee and Chavi Mehta \ No newline at end of file diff --git a/news/AAPL/2023.01.26/U.S. lawsuit against Google could benefit Apple and others.txt b/news/AAPL/2023.01.26/U.S. lawsuit against Google could benefit Apple and others.txt new file mode 100644 index 0000000000000000000000000000000000000000..0467c71433f28801e43419656efcc461deadb6f1 --- /dev/null +++ b/news/AAPL/2023.01.26/U.S. lawsuit against Google could benefit Apple and others.txt @@ -0,0 +1 @@ +The Justice Department's complaint against Google on Tuesday called for the company to divest Google Ad Manager, a suite of tools including one that lets websites put ad space up for a sale and another that served as an ad marketplace that automatically matched advertisers with those publishers. If the Justice Department lawsuit succeeds, "advertisers and publishers could have more leverage with more options with expanding players - and consequently more competition," said Neil Begley of Moody's Investors Service.Apple Inc, which is steadily growing its nascent advertising business and promoting it as privacy-focused, could be a winner if Google ads become less effective, said Brian Mandelbaum, chief executive of marketing firm Attain.Ad industry executives say Google's business in placing ads on websites it does not own gives Google valuable information on an ad's effectiveness. Apple has "an ability to be a new dominant force," in advertising because Apple has data through its ownership of phones, its Safari web browser and the distribution of apps through the App Store, he said. Google's competitors in ad tech are increasingly creating products that serve both the publishers like news websites, which sell ad space, and advertisers who buy ads, like Google currently does, said Paul Bannister, chief strategy officer at CafeMedia, which helps small and medium-sized publishers sell ad space. If Google is forced to divest the tools that serve publishers, it would benefit competitors like Xandr, which is owned by Microsoft, that will still work with both sides of the ad-buying ecosystem, Bannister said. With more options besides Google, publishers will have more transparency over how much they can sell ad space for, and could end up paying less in fees, Mandelbaum said. If successful, the lawsuit could be "the beginning of serious business model changes for Google," said Paul Gallant, managing director at Cowen Washington Research Group. The divested assets could result in Google losing key data that helps target ads to relevant consumers, he said. If Google loses access to data signals, advertisers could see their Google ads become less effective, said Nikhil Lai, senior analyst at research firm Forrester. At least twice before, the government has filed lawsuits against dominant companies with far-reaching results. A lawsuit breaking up AT&T, filed in 1974, resulted in an agreement in 1982 to break up the company. That breakup has been credited with a host of innovations in telephony.The Justice Department's lawsuit against Microsoft, filed in 1998, reined in the company at a time when it was seeking to extend its dominant operating system to the internet browser. While the lawsuit settled, the fight is credited with opening the way for other internet innovators, like Google itself. (Reporting by Sheila Dang and Diane Bartz; Editing by Nick Zieminski)By Sheila Dang and Diane Bartz \ No newline at end of file diff --git a/news/AAPL/2023.01.27/Bursting The Bubble On Prosecution Delays.txt b/news/AAPL/2023.01.27/Bursting The Bubble On Prosecution Delays.txt new file mode 100644 index 0000000000000000000000000000000000000000..c93c51148204d6d7965b0266b730ec40de9af7d9 --- /dev/null +++ b/news/AAPL/2023.01.27/Bursting The Bubble On Prosecution Delays.txt @@ -0,0 +1,12 @@ +Addressing a case where a patent owner filed hundreds of applications as part of a strategy to maintain extraordinarily lengthy patent coverage, the US Court of Appeals for the Federal Circuit affirmed a district court's determination that the patent owner had engaged in a calculated and unreasonable scheme to delay patent issuance. Personalized Media Comms., LLC v. Apple Inc., Case No. 21-2275 (Fed. Cir. Jan. 7, 2023) (Reyna, Chen, JJ.) (Stark, J., dissenting).The Uruguay Round Agreements Act and General Agreement on Tariff and Trade (GATT) amended the US patent term to 20 years from the effective filing date, instead of 17 years from the issue date. GATT took effect on June 8, 1995. In the months leading up to GATT's enactment, some would-be patentees seeded patent applications with tremendous disclosures to anchor future applications and obtain the longer pre-GATT term. Practitioners referred to this time period as the GATT bubble. Personalized Media Communications (PMC) submitted 328 GATT bubble applications, from which PMC sought somewhere between 6,000 and 20,000 patent claims. The term of these patents would be 17 years from their issue date instead of 20 years from their priority date.PMC asserted that Apple's FairPlay digital rights management software infringed a patent covering a decryption method and won a jury verdict of $330 million. After the verdict, the district court held a bench trial and ultimately found that the patent was unenforceable because of prosecution laches, a doctrine that bars the assertion of patents where the patentee caused unreasonable delay in obtaining the patent, to the detriment of the accused infringer. PMC appealed.The Federal Circuit affirmed. First, it examined whether the district court had properly concluded that PMC unreasonably delayed. Based on a wide swath of record evidence, all three panel members—Judges Reyna, Chen and Stark—agreed that, like the patentee in Hyatt v. Hirschfeld, PMC had engaged in an intentional scheme to delay patent issuance and extend its monopoly. PMC tried to distinguish its case from Hyatt by arguing that it had developed, with the US Patent & Trademark Office, a consolidation procedure to prioritize review of certain applications. The Court concluded that the structure of the agreement still unreasonably drew out resolution of PMC's applications, however. The Court also approved of the district court's reasoning based on the number of applications filed and the introduction of new (albeit narrowing) elements to the claims 16 years after the priority date.Turning to prejudice, the Federal Circuit concluded that the district court did not act improperly in determining that the delay and improper conduct continued to harm Apple up through the filing of suit in 2015. The Court found that the patent had issued based on a pending claim that PMC did not disclose during PMC-Apple license negotiations and which PMC could quickly get granted and assert against Apple.Judge Stark dissented, stating that he would conclude that the prejudice Apple faced did not happen during the period in which PMC unreasonably delayed issuance. Judge Stark criticized the majority for not allowing for the possibility of cleansing unreasonable delay, which in his view was required by Hyatt and the Federal Circuit's existing prosecution laches case law. Moreover, Judge Stark would have found that all of PMC's unreasonable actions occurred before 2000 and thus before Apple began developing FairPlay. As a result, he concluded that PMC's unreasonable delay did not cause prejudice to Apple.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Christopher M. Bruno +McDermott Will & Emery +600 13th Street N.W. +Washington, DC +20005-3096 +UNITED STATES +Tel: 2075776900 +Fax: 2075776950 +E-mail: sliston@europe.mwe.com +URL: www.mwe.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AAPL/2023.01.27/Circuit Split Deepens : Are Named Plaintiffs Entitled To Incentive Awards?.txt b/news/AAPL/2023.01.27/Circuit Split Deepens : Are Named Plaintiffs Entitled To Incentive Awards?.txt new file mode 100644 index 0000000000000000000000000000000000000000..8d74ed8acca4b3fa45e0fd07bf84590621702224 --- /dev/null +++ b/news/AAPL/2023.01.27/Circuit Split Deepens : Are Named Plaintiffs Entitled To Incentive Awards?.txt @@ -0,0 +1,12 @@ +Last month, the First Circuit held that incentive awards for named plaintiffs are permissible under Rule 23, increasing the odds this question will be considered by the Supreme Court. See Murray v. Grocery Delivery E-Servs. USA Inc., 55 F.4th 340, 353-54 (1st Cir. 2022). The First Circuit in reaching its holding joined with the Ninth Circuit (In re Apple Inc. Device Performance Litig., 50 F.4th 769, 786 (9th Cir. 2022)) in an emerging circuit split with the Eleventh Circuit. The Eleventh Circuit—relying on case law from the 1880's—holds that incentive awards for named plaintiffs are prohibited by Supreme Court precedent. Johnson v. NPAS Sols., LLC, 975 F.3d 1244, 1255 (11th Cir. 2020) (citing Trustees v. Greenough, 105 U.S. 527 (1882) and Central Railroad & Banking Co. v. Pettus, 113 U.S. 116 (1885)).If incentive awards for class action plaintiffs are prohibited, it will have dramatic effects on the class action bar. The plaintiff in Johnson argued in its cert petition to the Supreme Court that "[i]ncentive awards are critically important to class-action litigation," and "a key tool to maintaining vigor in class-action litigation." Johnson v. Dickenson, No. 22-389 (filed Oct. 21, 2022), at 4, 19, petition for cert. pending. If this tool is unlawful, the Johnson plaintiff argues, then it will be more difficult to find willing named plaintiffs to take on the responsibility of representing absent class members.The class action bar must confront the Supreme Court's holdings in Greenough and Pettus in arguing for the availability of incentive awards. In Greenough, which predates the existence of class actions as a procedural mechanism, the plaintiff sued on behalf of himself and other similarly situated bondholders who invested in a trust the plaintiff alleged was mismanaged. See Greenough, 105 U.S. at 528-29. The plaintiff prevailed and petitioned the trust for a disbursement to compensate him for his efforts in prosecuting the claim on behalf of all bondholders. Id. at 529. The fee petition worked its way to the Supreme Court, which held that it was proper for the plaintiff to be compensated for "his reasonable costs, counsel fees, charges, and expenses incurred in the fair prosecution of the suit, and in reclaiming and rescuing the trust fund," but held compensation for "personal services and private expenses"—in particular, a yearly salary for performing trust-related activities—was without legal basis. Id. at 537-38. Pettus affirmed the holding in Greenough. See Pettus, 113 U.S. at 126.The Eleventh Circuit held that "modern-day incentive award[s] for . . . class representative[s] [are] roughly analogous to a salary" and therefore expressly precluded by Greenough and Pettus. Johnson, 975 F.3d at 1257. The First and Ninth Circuits rejected the extension of Greenough to class actions, noting that the rule in Greenough was derived from the law of trusts, while the compensation for a named plaintiff is a matter of contract law. See Murray, 55 F.4th at 352-53. Additionally, they noted that the salary sought by the plaintiff in Greenough, adjusting for inflation, was hundreds of thousands of dollars, while incentive awards for named plaintiffs in class actions are typically below $10,000 and subject to judicial review for fairness. See In re Apple, 50 F.4th at 786. Even so, similar arguments were made by the plaintiff in Johnson and rejected by the Eleventh Circuit, which means the circuit split endures.This is a developing case with important implications for class action practice, and one that we will continue to monitor.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Gayle I. Jenkins +Winston & Strawn LLP +35 West Wacker Drive +Los Angeles +IL 60601 +UNITED STATES +Tel: 3125585600 +Fax: 3125585700 +E-mail: awisinski@winston.com +URL: www.winston.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AAPL/2023.01.27/Intel leads chip stock selloff after bleak outlook.txt b/news/AAPL/2023.01.27/Intel leads chip stock selloff after bleak outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..65609f677b901a9d1522f971a6b4355141c3d2ef --- /dev/null +++ b/news/AAPL/2023.01.27/Intel leads chip stock selloff after bleak outlook.txt @@ -0,0 +1 @@ +Intel said it lost momentum and market share to Advanced Micro Devices and other chip rivals but vowed to regain its footing.Wall Street was skeptical, however, as the stock fell more than 10% at the open, leading a decline in shares of chipmakers across the board.The challenge from AMD is playing out as tech spending slumps globally, complicating Intel's efforts to clear a record inventory glut. Business spending on tech is falling sharply as customers grow wary of a recession, and consumer electronics demand has weakened.That's a headwind for Intel and AMD, both of which are rolling out new chips, but Intel is facing a larger inventory problem. Intel still dominates in PC and server processing chips, with more than 70% of the market, according to tech research firm IDC. But that is down from over 90% in 2017.Intel also faces competition from Nvidia, which is branching out into central processors. It also faces competition from its former customers, including Apple and Amazon, which are designing their own chips. \ No newline at end of file diff --git a/news/AAPL/2023.01.27/Stocks notch weekly gains as Fed meeting looms.txt b/news/AAPL/2023.01.27/Stocks notch weekly gains as Fed meeting looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..744b05ac72e69e076901e35ac956ae9514350249 --- /dev/null +++ b/news/AAPL/2023.01.27/Stocks notch weekly gains as Fed meeting looms.txt @@ -0,0 +1 @@ +The Dow closed up but essentially unchanged. The S&P 500 gained a quarter of a percent, while the Nasdaq added nearly a full percent, as the tech-heavy index notched its fourth straight weekly advance.The Commerce Department's hotly anticipated personal consumption expenditures report or PCE, the Federal Reserve's preferred inflation gauge, indicated cooling inflation - exactly what the central bank's interest rate hikes are intended to accomplish.Ken Moraif, founder and CEO of Retirement Planners of America, called it another good sign ahead of next week's Fed policy meeting. "I think that the economy is showing resilience. Inflation is probably going to start coming down here for the next few months. And so the combination of that is alleviating the fears that people have that the Fed is going to have to raise interest rates so high that they cause a bad recession. So it's starting to look more and more like maybe that soft landing could happen after all. You also have Europe where the winter that everybody thought was going to come, turns out was a lot warmer. They're our biggest trading partner, profits come from that. And if they don't have a massive recession, our companies should do better. So the picture is starting to look a lot better than all the doom and gloom that we were thinking a few months ago." On the earnings front, credit card giant American Express jumped 10.5% on consensus-beating results and an upbeat forecast.Rival Visa also reported better-than-expected quarterly results, easing worries of waning consumer demand, sending its shares up 3%.Shares of Intel fell more than 6% after the chipmaker provided dismal earnings projections that were short of Wall Street estimates by about $3 billion. Shares of Chevron fell more than 4% after the oil giant posted record 2022 profit, but its fourth quarter earnings fell short of expectations. Next week, a raft of high profile earnings reports are expected, notably from Apple, Amazon, Alphabet and Meta Platforms, which will test a recent bounce for tech and mega-cap stocks. \ No newline at end of file diff --git a/news/AAPL/2023.01.27/Take Five: Goldilocks and the three bears.txt b/news/AAPL/2023.01.27/Take Five: Goldilocks and the three bears.txt new file mode 100644 index 0000000000000000000000000000000000000000..c48a8d6e8284274a6813126d25fb85878c489f5c --- /dev/null +++ b/news/AAPL/2023.01.27/Take Five: Goldilocks and the three bears.txt @@ -0,0 +1 @@ +But the story three of the world's largest central banks, set to hold their first policy meetings of 2023, tell isn't that of a "Goldilocks" scenario of a gentle slowdown in growth and a gradual easing in inflation. Here's a look at the week ahead in markets from Kevin Buckland in Tokyo, Dhara Ranasinghe and Naomi Rovnik in London and Ira Iosebashvili and Lewis Krauskopf in New York.1/WILL THE FED FOLD?Will the Federal Reserve tone down its hawkish rhetoric in the face of cooling inflation or stick to its guns? Investors widely expect a 25-basis point rate increase at the Feb. 1 meeting and for rates to stop short of hitting 5%.Fed officials, however, have indicated they expect the key policy rate to top out at 5.00-5.25% this year.Whatever signals the Fed sends could play an importing role in determining the longevity of the rally so far this year. Dollar bears, meanwhile, will watch for dovish leanings that could further accelerate a decline in the greenback. The currency has tumbled nearly 11% since hitting multi-decade highs last September. GRAPHIC - Summer peakhttps://www.reuters.com/graphics/GLOBAL-MARKETS/xmvjklalzpr/chart.png2/ BACK FROM BREAK Chinese markets are back from the week-long Lunar New Year holidays, and will look to pick up where they left off - at a five-month peak for mainland blue chips. The mood should stay bullish after officials said COVID deaths have dropped about 80% from the peak earlier this month, running counter to worries that the New Year travel rush would trigger a fresh wave of infections. Some experts even suggest that the surge in cases after the government abruptly reversed its zero-COVID policies last month has resulted in hyper-speedy herd immunity. The impact of China's Great Reopening may show up in PMIs next Tuesday, with the services sector bouncing back to expansion. Manufacturing is likely still contracting, but that has a lot to do with the timing of the New Year holiday, and next month should see a strong rebound.GRAPHIC - China's convalescent business activityhttps://www.reuters.com/graphics/CHINA-ECONOMY/PMI/gdpzqwozmvw/china-pmi-2022.jpg3/ YOUR MOVE, ECBThe ECB meets Thursday and is widely tipped to raise rates by 50 bps to 2.5%. Markets care most about what happens next and that's not clear. Policy hawks are already pushing for more of the same in March. After all, inflation is well above the 2% target as preliminary January data out on Wednesday is likely to show.Futures price in a further 100 bps worth of tightening between now and July. Amundi reckons ECB rates could reach 4%.But the doves are getting louder. Yes, inflation is high but it's off record peaks, they say. So, caution is needed before pre-commiting to rate hikes beyond February.Markets, whipped around by the differing opinions, will be looking for the ECB to speak with one voice. That, at least, is the hope. GRAPHIC - ECB expected to hike againhttps://www.reuters.com/graphics/GLOBAL-CENTRALBANKS/zjvqjebzqpx/chart.png4/THE "A" TEAM The three "A's" -- Apple, Amazon and Alphabet - three of the top four U.S. companies by market value - all report earnings on Thursday.Over 100 companies in the S&P 500 deliver results as the earnings season gets into full swing. Microsoft, the fourth of the U.S. megacaps, has already reported results. Its cloud business hit Wall Street targets, but it delivered a lacklustre forecast that offered little cheer to the broader tech sector. Tech companies generally are under pressure to grow while cutting costs ahead of a potential recession. S&P 500 earnings are set to have fallen 2.9% from the year-ago period, according to Refinitiv IBES data as of Tuesday. GRAPHIC - Big tech's earnings growth put to the testhttps://www.reuters.com/graphics/GLOBAL-MARKETS/mypmogzgmpr/chart.png 5/THE END MAY BE NIGH The Bank of England, the first of the major central banks to turn hawkish, is expected to deliver its tenth rate hike since December 2021. Money markets predict the BoE will raise rates by 0.5 percentage points to 4%. Headline inflation moderated in December to 10.5%, but it's still over five times the Bank's official target. Deutsche Bank analysts say this will be the BoE's final "forceful" hike. Recent data has shown a sharp contraction in UK business activity and lacklustre Christmas retail sales. Economists polled by Reuters now expect the BoE to stop at 4.25%. But many cited sticky core inflation, which excludes food and energy costs, as the main reason they could be wrong. GRAPHIC - Inflation mixed baghttps://www.reuters.com/graphics/BRITAIN-ECONOMY/jnvwywzdkvw/chart.png (Compiled by Amanda Cooper; Graphics by Sumanta Sen, Pasit Kongkunakornkul and Vincent Flasseur; Editing by Toby Chopra) \ No newline at end of file diff --git a/news/AAPL/2023.01.27/US STOCKS-Wall Street advances, on course for weekly gains as Fed meeting looms.txt b/news/AAPL/2023.01.27/US STOCKS-Wall Street advances, on course for weekly gains as Fed meeting looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..c4b4f65ee45fd2b3d46e32035cd5eac21bd8dd65 --- /dev/null +++ b/news/AAPL/2023.01.27/US STOCKS-Wall Street advances, on course for weekly gains as Fed meeting looms.txt @@ -0,0 +1,49 @@ +(Fixes typo in paragraph 13)*PCE: inflation cools, consumer spending falls*American Express, Visa climb higher*Chevron falls post missing profit estimates*Indexes up: Dow 0.24%, S&P 0.45%, Nasdaq 1.16%NEW YORK, Jan 27 (Reuters) - Wall Street advanced on +Friday, nearing the end of an rocky week in which economic data +and corporate earnings guidance both hinted at softening demand +but also economic resiliency ahead of next week's Federal +Reserve monetary policy meeting.All three major U.S. stock indexes were last green after +see-sawing earlier in the session, with the Nasdaq out front.From last Friday's close, the S&P and the Dow have set a +course for their third weekly gains in four, while the +tech-laden Nasdaq appears set to notch its fourth straight +weekly advance.The Commerce Department's hotly anticipated personal +consumption expenditures (PCE) report arrived largely in line +with consensus, showing softening demand and cooling inflation - +which is exactly what the Federal Reserve's restrictive interest +rate hikes are intended to accomplish."(The PCE report) is welcome news with regards to the Fed’s +mission, but they’re not ready to retreat at this point," said +Matthew Keator, managing partner in the Keator Group, a wealth +management firm in Lenox, Massachusetts. "They will stay focused +on their mission, but the hope is that they will begin to +moderate their hawkish tones."Fed Chair Jerome Powell has clearly stated that the central +bank's battle against decades-high inflation is far from over, +however. Financial markets still believe the central bank will +hike the Fed funds target rate by another 25 basis points at the +conclusion of next week's policy meeting.Fourth-quarter earnings season is running on all cylinders, +with 143 of the companies in the S&P 500 having reported. Of +those, 67.8% have beaten Street expectations, slightly better +than the 66% long-term average, but well below the 76% beat rate +over the past four quarters, according to Refinitiv.Analysts now see aggregate S&P 500 earnings falling 2.9% +year-on-year, compared with the milder 1.6% annual drop seen on +Jan. 1, per Refinitiv.The Dow Jones Industrial Average rose 81.28 points, +or 0.24%, to 34,030.69, the S&P 500 gained 18.1 points, +or 0.45%, to 4,078.53 and the Nasdaq Composite added +133.41 points, or 1.16%, to 11,645.82.Among the 11 major sectors of the S&P 500, consumer +discretionary led the percentage gainers, while energy +suffered the largest percentage losses.Shares of Intel Corp plunged 7.1% after the +chipmaker provided dismal earnings projections.Chevron Corp posted record 2022 profit, but its +fourth quarter earnings fell short of expectations, dragging the +stock down 4.1%.Rival payment companies American Express Co and Visa +Inc reported consensus-beating results, easing worries of +waning consumer demand. Their shares jumped 11.5% and 3.0%, +respectively.Bed Bath & Beyond Inc rose 4.2% in a partial +rebound after plummeting 22.2% on Thursday in the wake of +JPMorgan issuing a loan default notice.Next week, a raft of high profile earnings reports are +expected, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Advancing issues outnumbered declining ones on the NYSE by a +1.54-to-1 ratio; on Nasdaq, a 1.49-to-1 ratio favored advancers.The S&P 500 posted 14 new 52-week highs and no new lows; the +Nasdaq Composite recorded 80 new highs and 29 new lows. +(Reporting by Stephen Culp; Additonal Reporting by Bansari +Mayur Kamdar, Johann M Cherian and Shreyashi Sanyal in +Bengaluru; Editing by Aurora Ellis) \ No newline at end of file diff --git a/news/AAPL/2023.01.27/Wall Street ends higher, notches weekly gains as Fed meeting looms.txt b/news/AAPL/2023.01.27/Wall Street ends higher, notches weekly gains as Fed meeting looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..951cf12c05716ac921a5f5d82896a0ba34acf733 --- /dev/null +++ b/news/AAPL/2023.01.27/Wall Street ends higher, notches weekly gains as Fed meeting looms.txt @@ -0,0 +1,53 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*PCE: inflation cools along with consumer spending*American Express, Visa climb higher on solid demand*Chevron falls after missing profit estimates*Indexes up: Dow 0.08%, S&P 0.25%, Nasdaq 0.95%NEW YORK, Jan 27 (Reuters) - Wall Street advanced on +Friday, marking the end of an rocky week in which economic data +and corporate earnings guidance hinted at softening demand but +also economic resiliency ahead of next week's Federal Reserve +monetary policy meeting.All three major U.S. stock indexes ended the session +green, with the Nasdaq, powered by megacap momentum stocks, +enjoying the biggest gain.From last Friday's close, the S&P and the Dow posted +their third weekly gains in four, while the tech-laden Nasdaq +notched its fourth straight weekly advance.So far in the early weeks of 2023, the Nasdaq has jumped +11%, while the S&P 500 and the Dow have gained 6% and 2.5%, +respectively."It's a nice end to another solid week of what's shaping +up to be a historically strong month," said Ryan Detrick, chief +market strategist at Carson Group in Omaha. "It's a realization +that inflation continues to come down quickly and that is +alleviating a lot of worries regarding the economy."The Commerce Department's hotly anticipated personal +consumption expenditures (PCE) report arrived largely in line +with consensus, showing softening demand and cooling inflation - +which is exactly what the Federal Reserve's restrictive interest +rate hikes are intended to accomplish."(The PCE report) is another building block to the +inflation data we’ve been seeing recently," Detrick added. +"Supply chains continue to open up and improve, opening the door +for the Fed to end its aggressive rate hiking cycle."Fed Chair Jerome Powell has clearly stated that the central +bank's battle against decades-high inflation is far from over, +however. Financial markets still believe the central bank will +hike the Fed funds target rate by another 25 basis points at the +conclusion of next week's policy meeting.Fourth-quarter earnings season is running on all cylinders, +with 143 of the companies in the S&P 500 having reported. Of +those, 67.8% have beaten Street expectations, slightly better +than the 66% long-term average, but well below the 76% beat rate +over the past four quarters, according to Refinitiv.Analysts now see aggregate S&P 500 earnings falling 2.9% +year-on-year, compared with the milder 1.6% annual drop seen on +Jan. 1, per Refinitiv.The Dow Jones Industrial Average rose 28.67 points, +or 0.08%, to 33,978.08, the S&P 500 gained 10.13 points, +or 0.25%, to 4,070.56 and the Nasdaq Composite added +109.30 points, or 0.95%, to 11,621.71.Among the 11 major sectors of the S&P 500, consumer +discretionary led the percentage gainers, while energy +suffered the largest percentage loss, down 2%.Shares of Intel Corp plunged6.4% after the chipmaker provideddismal earnings projections.Chevron Corp posted record 2022 profit, but its +fourth quarter earningsfell short of expectations, dragging the stock down4.4%.Rival payment companies American Express Co and +Visa Inc reported consensus-beating results, easing +worries of waning consumer demand. There shares jumped10.5% and3.0%, respectively.Next week, in addition to the Fed meeting and January +employment data, a string of high profile earnings reports are +on tap, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Advancing issues outnumbered declining ones on the NYSE +by a 1.40-to-1 ratio; on Nasdaq, a 1.34-to-1 ratio favored +advancers.The S&P 500 posted 15 new 52-week highs and no new lows; +the Nasdaq Composite recorded 94 new highs and 32 new lows.Volume on U.S. exchanges was 11.88 billion shares, +compared with the 11.10 billion average over the last 20 trading +days. +(Reporting by Stephen Culp; Additonal Reporting by Bansari +Mayur Kamdar, Johann M Cherian and Shreyashi Sanyal in +Bengaluru; Editing by Aurora Ellis) \ No newline at end of file diff --git a/news/AAPL/2023.01.29/Asia shares brace for rate hikes, earnings rush.txt b/news/AAPL/2023.01.29/Asia shares brace for rate hikes, earnings rush.txt new file mode 100644 index 0000000000000000000000000000000000000000..ff041d5c244f79e93aa9ae63c173fd46ceab55cd --- /dev/null +++ b/news/AAPL/2023.01.29/Asia shares brace for rate hikes, earnings rush.txt @@ -0,0 +1 @@ +Earnings from a who's who of tech giants will also test the mettle of Wall Street bulls, who are looking to propel the Nasdaq to its best January since 2001.Asia has been no slouch either as China's swift reopening bolsters the economic outlook, with MSCI's broadest index of Asia-Pacific shares outside Japan up 11% in January at a nine-month high. Early Monday, the index was up 0.1% as investors looked forward to China's market resuming after the Lunar New Year holidays, while Japan's Nikkei added 0.2%. S&P 500 futures and Nasdaq futures both eased 0.1%.Investors are confident the Federal Reserve will raise rates by 25 basis points on Wednesday, followed the day after by half-point hikes from the Bank of England and European Central Bank, and any deviation from that script would be a real shock.Just as important will be the guidance on future policy with analysts expecting a hawkish message of inflation is not yet beaten and more needs to be done."With U.S. labor markets still tight, core inflation elevated, and financial conditions easing, Fed Chair Powell's tone will be hawkish, stressing that a downshifting to a 25bp hike doesn't mean a pause is coming," said Bruce Kasman, chief economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against market pricing of rate cuts later this year." There is a lot of pushing to do given futures currently have rates peaking at 5.0% in March, only to fall back to 4.5% by year end.EYEING APPLEYields on 10-year notes have fallen 31 basis points so far this month to 3.518%, essentially easing financial conditions even as the Fed seeks to tighten.That dovish outlook will also be tested by data on U.S. payrolls, the employment cost index and various ISM surveys.As for Wall Street's recent rally, much will depend on earnings from Apple Inc, Amazon.com, Alphabet Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for consumers globally and a snapshot of the China supply chain issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe iPhone 14 Pro demand is holding up firmer than expected," they added. "Apple will likely cut some costs around the edges, but we do not expect mass layoffs." Market pricing of early Fed easing has been a burden for the dollar, which has lost 1.5% so far this month against a basket of major currencies.The euro is up 1.4% for January at $1.0870 and just off a nine-month top. The dollar has even lost 1% on the yen to 129.92 despite the Bank of Japan's dogged defence of its uber-easy policies.The drop in the dollar and yields has been a boon for gold, which is up 5.6% for the month so far at $1,928 an ounce. [GOL/]China's rapid reopening is seen as a windfall for commodities in general, supporting everything from copper to iron ore to oil prices. [O/R]Beijing reported Lunar New Year travel trips inside China surged 74% from last year, though that was still only half of pre-pandemic levels.Early Monday, Brent was up 79 cents at $87.45 a barrel, while U.S. crude rose 66 cents to $80.34. (Reporting by Wayne Cole; Editing by Christopher Cushing)By Wayne Cole \ No newline at end of file diff --git a/news/AAPL/2023.01.29/Asia shares turn cagey as rate hikes, earnings loom.txt b/news/AAPL/2023.01.29/Asia shares turn cagey as rate hikes, earnings loom.txt new file mode 100644 index 0000000000000000000000000000000000000000..6e47c43e350a14682c1c2592df9b091df1e87756 --- /dev/null +++ b/news/AAPL/2023.01.29/Asia shares turn cagey as rate hikes, earnings loom.txt @@ -0,0 +1,53 @@ +*Asian stock markets: https://tmsnrt.rs/2zpUAr4*Fed seen hiking 25bp this week, ECB and BOE by 50bp*Tech giants lead host of earnings results*China shares up as holiday travel surgesSYDNEY, Jan 30 (Reuters) - Asian shares turned cagey on +Monday ahead of a week that is certain to see interest rates +rise in Europe and the United States, along with U.S. jobs and +wage data that may influence how much further they still have to +go.Earnings from a who's who of tech giants will also test the +mettle of Wall Street bulls, who are looking to propel the +Nasdaq to its best January since 2001.Asia has been no slouch either as China's swift reopening +bolsters the economic outlook, with MSCI's broadest index of +Asia-Pacific shares outside Japan up 11% in +January so far at a nine-month high.The index was off 0.2% on Monday with markets mixed across +the region. Japan's Nikkei went flat, while Taiwan +jumped 3.1%.The Nikkei newspaper reported Renault was to lower +its share holding in Nissan to 15%, while the latter +would invest in Renault's EV business.Chinese blue chips climbed 1.1% after returning +from the holidays. Beijing reported Lunar New Year travel trips +inside China surged 74% from last year, though that was still +only half of pre-pandemic levels.S&P 500 futures and Nasdaq futures both eased +0.3%, while EUROSTOXX 50 futures and FTSE futures +dipped 0.2%.Investors are confident the Federal Reserve will raise rates +by 25 basis points on Wednesday, followed the day after by +half-point hikes from the Bank of England and European Central +Bank, and any deviation from that script would be a real shock.Just as important will be the guidance on future policy with +analysts expecting a hawkish message of inflation is not yet +beaten and more needs to be done."With U.S. labor markets still tight, core inflation +elevated, and financial conditions easing, Fed Chair Powell's +tone will be hawkish, stressing that a downshifting to a 25bp +hike doesn't mean a pause is coming," said Bruce Kasman, chief +economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against +market pricing of rate cuts later this year."There is a lot of pushing to do given futures +currently have rates peaking at 5.0% in March, only to fall back +to 4.5% by year end.EYEING APPLEYields on 10-year notes have fallen 33 basis +points so far this month to 3.50%, essentially easing financial +conditions even as the Fed talks tough on tightening.That dovish outlook will also be tested by data on U.S. +payrolls, the employment cost index and various ISM surveys.Figures on EU inflation could be important for whether the +ECB signals a half-point rate rise for March, or opens the door +to slowdown in the pace of tightening.As for Wall Street's recent rally, much will depend on +earnings from Apple Inc, Amazon.com, Alphabet +Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for +consumers globally and a snapshot of the China supply chain +issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe +iPhone 14 Pro demand is holding up firmer than expected," they +added. "Apple will likely cut some costs around the edges, but +we do not expect mass layoffs."Market pricing of early Fed easing has been a burden for the +dollar, which has lost 1.6% so far this month to stand at +101.790 against a basket of major currencies.The euro is up 1.5% for January at $1.0878 and +just off a nine-month top. The dollar has even lost 1.3% on the +yen to 129.27 despite the Bank of Japan's dogged +defence of its uber-easy policies.The drop in the dollar and yields has been a boon for gold, +which is up 5.8% for the month so far at $1,930 an ounce.China's rapid reopening is seen as a windfall for +commodities in general, supporting everything from copper to +iron ore to oil prices.The oil market was hesitant on Monday, with Brent +off 11 cents at $86.55 a barrel, while U.S. crude eased 3 +cents to $79.65.(Reporting by Wayne Cole; Editing by Christopher Cushing) \ No newline at end of file diff --git a/news/AAPL/2023.01.29/China's 2022 smartphone sales plunge to lowest level in a decade.txt b/news/AAPL/2023.01.29/China's 2022 smartphone sales plunge to lowest level in a decade.txt new file mode 100644 index 0000000000000000000000000000000000000000..4de6521b71093382cdb47708b8a9b7b6fad04c3a --- /dev/null +++ b/news/AAPL/2023.01.29/China's 2022 smartphone sales plunge to lowest level in a decade.txt @@ -0,0 +1,34 @@ +SHANGHAI, Jan 30 (Reuters) - China's smartphone sales +endured a record fall in 2022, tumbling 13% to their lowest +level in a decade as COVID controls and a slowing economy sapped +consumer appetite, data from third-party research firms showed.The total number of devices shipped was 286 million, down +from 329 million in 2022. It was the lowest sales volume since +2013 and the first time since then that annual sales have +dropped below 300 million, IDC said in a report.Strict COVID-19 controls weighed heavily on the Chinese +economy last year but Beijing started dismantling the +restrictions in December, boosting consumption."The strict pandemic control poicy has resulted in +historically high household savings as consumer spending became +conservative," said Lucas Zhong, who tracks China's smartphone +sector for research firm Canalys.Android handset maker Vivo was the top-selling brand in +2022, with a market share of 18.6%, according to IDC. Its total +shipments fell 25.1% year-on-year.Huawei Technologies spin-off Honor ranked as the +second best-selling brand, with shipments growing more than 34%, +albeit from a low base.Apple Inc was the third best-selling phone brand in +2022, tied with Oppo, moving up from fourth place in the +previous year.Apple's overall sales fell 4.4% year-on-year, according to +IDC, while all other rivals excluding Honor saw sales fall in +the double digits.Overall, the plunge in smartphone sales in China reflected +the sector's performance globally. In 2022, global smartphone +shipments hit 1.2 billion, the lowest since 2013 and a +year-on-year fall of more than 11%, according to IDC.A separate report from Canalys published on Monday said that +in the fourth quarter of 2022, Apple sold 16.4 million devices, +down 24% year-on-year. This compared to a 37.3% shipments slump +from Xiaomi and Honor's 14.1% fall during the same quarter.That marks the first time Apple shipments dropped +year-on-year in China since early 2020, when the first wave of +COVID-19 swept the country. The fall was caused by an earlier +release of the latest iPhone series as well as by worker unrest +at its major manufacturer Foxconn's plant in the city of +Zhengzhou that impacted its supply chain, Canalys said.Still, Apple remained the top-selling phone maker in China +in the quarter, hitting record-high market share, Canalys added. +(Reporting by Josh Horwitz; Editing by Robert Birsel and +Stephen Coates) \ No newline at end of file diff --git a/news/AAPL/2023.01.29/China's 2022 smartphone shipments the lowest in 10 years - research firm.txt b/news/AAPL/2023.01.29/China's 2022 smartphone shipments the lowest in 10 years - research firm.txt new file mode 100644 index 0000000000000000000000000000000000000000..537bec323ca2a5e9f68231af0b46875121e43a0b --- /dev/null +++ b/news/AAPL/2023.01.29/China's 2022 smartphone shipments the lowest in 10 years - research firm.txt @@ -0,0 +1 @@ +The total number of devices shipped was 286 million, down from 329 million in 2022. That meant total 2022 sales volume was the lowest since 2013 and the first time since then that annual sales have dropped below 300 million, IDC said in a report.Android handset maker Vivo was the top-selling brand over the year, with a market share of 18.6%. Its total shipments fell 25.1% year-on-year, however.Honor ranked as the second best-selling brand, with shipments growing more than 34%, albeit from a low base.Apple Inc was the third best-selling phone brand in 2022, tied with Oppo. Apple's overall sales fell 4.4% year-on-year, broadly outperforming the market downturn. In Q4, despite being the top-selling brand in the three-month period, year-on-year sales for iPhones were still down, as supply chain issues caused by worker unrest at manufacturer Foxconn's plant in the city of Zhengzhou compounded worse-than expected demand, researchers wrote.Strict COVID-19 controls in China, which ramped up in the spring of 2022 across several cities, weighed heavily on its economy which slumped to one of its worst levels in nearly half a century last year.The plunge in smartphone sales in China reflected the sector's performance globally. In 2022, global smartphone shipments hit 1.2 billion, the lowest since 2013 and a year-on-year fall of more than 11%, according to IDC. (Reporting by Josh Horwitz; Editing by Robert Birsel) \ No newline at end of file diff --git a/news/AAPL/2023.01.29/Japan's Nikkei tracks Wall Street higher, U.S. events in focus.txt b/news/AAPL/2023.01.29/Japan's Nikkei tracks Wall Street higher, U.S. events in focus.txt new file mode 100644 index 0000000000000000000000000000000000000000..18392d59da98f4c577842d6ed901d3ae34aaa7ea --- /dev/null +++ b/news/AAPL/2023.01.29/Japan's Nikkei tracks Wall Street higher, U.S. events in focus.txt @@ -0,0 +1,27 @@ +TOKYO, Jan 30 (Reuters) - Japan's Nikkei index rose on +Monday, tracking Wall Street's climb in the previous session, +although the gains were capped by caution ahead of the Federal +Reserve's meeting and domestic corporate earnings announcements.The Nikkei share average was up 0.33% at 27,473.75 +by the midday break, while the broader Topix inched +0.14% higher at 1,985.42.The week is filled with market-moving cues, so investors are +being more cautious, said Shigetoshi Kamada, general manager at +the research department at Tachibana Securities."I am unsure if this (upbeat) momentum will continue this +week. Investors are cautious and could sell stocks to book +profits ahead of the Fed meeting, U.S. employment data as well +as domestic corporate results."Wall Street rose on Friday, marking the end of a rocky week +in which economic data and corporate earnings guidance hinted at +softening demand but also economic resiliency ahead of the U.S. +Federal Open Market Committee (FOMC) this week.A string of high profile earnings reports are on tap +globally, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Investors are also reacting to Japanese corporate outlook as +the earnings season reaches its peak this week.Fanuc jumped 4.25% after the robot maker raised its +annual operating profit outlook and announced a 5-for-1 stock +split.Shin-Etsu Chemical, up 4.48%, posted a fourth +straight session of gains as the silicon wafter maker raised its +annual operating profit outlook.Japanese semiconductor equipment makers showed muted +reaction to news that Washington had made progress towards a +deal to curb exports of some advanced chip-making equipment to +China with several governments.Tokyo Electron rose 0.54% and Advantest +inched up 0.21%, while Nikon rose 0.48%. +(Reporting by Junko Fujita; editing by Uttaresh.V) \ No newline at end of file diff --git a/news/AAPL/2023.01.29/Taiwan export orders seen contracting at faster pace in Dec.txt b/news/AAPL/2023.01.29/Taiwan export orders seen contracting at faster pace in Dec.txt new file mode 100644 index 0000000000000000000000000000000000000000..73cb4be485f13bf23db2be1828e88262d2a854a0 --- /dev/null +++ b/news/AAPL/2023.01.29/Taiwan export orders seen contracting at faster pace in Dec.txt @@ -0,0 +1 @@ +The median forecast from a poll of 13 economists was for export orders to fall by 25.6% from a year earlier. Forecasts ranged for a contraction of between 16.3% and 30%.Taiwan's export orders, a bellwether of global technology demand, fell by a worse-than-expected 23.4% in November. The government last month predicted December's export orders would be between 27.8% and 30.8% lower than those reported a year earlier.Taiwan's export orders are a leading indicator of demand for high-tech gadgets and Asian exports, and typically lead actual exports by two to three months.The island's manufacturers, including the world's largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd, are a key part of the global supply chain for technology giants including Apple Inc.The data for December will be released on Tuesday. (Poll compiled by Veronica Khongwir and Carol Lee; Reporting by Ben Blanchard; Editing by Jamie Freed) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/AIM WINNERS & LOSERS: RA International wins contract; Rosslyn plumm...txt b/news/AAPL/2023.01.30/AIM WINNERS & LOSERS: RA International wins contract; Rosslyn plumm...txt new file mode 100644 index 0000000000000000000000000000000000000000..eec0ed2968b0033aea3f9ff97ace04f30fab0a27 --- /dev/null +++ b/news/AAPL/2023.01.30/AIM WINNERS & LOSERS: RA International wins contract; Rosslyn plumm...txt @@ -0,0 +1 @@ +(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.----------AIM - WINNERS----------Eden Research PLC, up 11% at 5.25 pence, 12-month range 3.26p-6.93p. The sustainable crop protection and animal health firm says its flagship biofungicide, Mevalone, has received authorisation for home garden use in Italy for the control of a number of important plant pathogens affecting the home grower. The diseases include Botrytis cinerea and powdery mildew, destructive fungal pathogens affecting many plant species. The company notes that Mevalone, which is marketed as 3LOGY in Italy, is already approved for agricultural use across a wide range of crops including: wine and table grapes, tomatoes, apple, pears, strawberries, and cucumber.----------RA International Group PLC, up 6.5% at 12.25p, 12-month range 11.05p-42p. The construction and support services provider says it has won a contract by the UK Foreign, Commonwealth & Development Office to provide construction services for the refurbishment of the British High Commission in Botswana. The contract value is GBP3.3 million with the work expected to be completed by the end of 2023. Separately, RA says it has been awarded three task orders for work at the US Navy base on the island of Diego Garcia, worth USD8.2 million.----------AIM - LOSERS----------Rosslyn Data Technologies PLC, down 29% at 0.60p, 12-month range 0.70p-3.80p. The data management and analytics service provider posts revenue of GBP1.4 million in six months ended October 31, down from GBP1.5 million a year earlier. Pretax loss narrows to GBP1.8 million from GBP2.2 million. Looking ahead, Rosslyn said it expects to achieve strong growth for the full-year to April 30 and is on track to deliver results in line with market expectations. It added that it expects revenue growth in the second half of the financial year to be more than double that achieved in the first half.----------Pan African Resources PLC, down 6.0% to 17.37p, 12-month range 15.72p-24.5p. Says its first half gold production dwindled, owing mainly to a poor performance at its Barberton mines in Mpumalanga, South Africa. The Rosebank-headquartered gold producer reports a 15% decline in gold output to 92,307 ounces for the first six months to December, from 108,085 ounces a year prior. The underground Barberton operations experienced a number of headwinds including inflationary increases in labour and energy costs, increasing depth and underground travel times at Fairview Mine, and depletion of the high-grade 42 Level block at Consort Mine.----------By Sophie Rose, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AAPL/2023.01.30/APPLE INC : Credit Suisse remains its Buy rating.txt b/news/AAPL/2023.01.30/APPLE INC : Credit Suisse remains its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..eec79b73eb3c6e9ee54143a1b65903ed96859ff7 --- /dev/null +++ b/news/AAPL/2023.01.30/APPLE INC : Credit Suisse remains its Buy rating.txt @@ -0,0 +1 @@ +In his latest research note, analyst Shannon Cross confirms his positive recommendation. The broker Credit Suisse is keeping its Buy rating. The target price remains unchanged at USD 184. \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Apple Music launches Rihanna's Road to Halftime ahead of Super Bowl LVII.txt b/news/AAPL/2023.01.30/Apple Music launches Rihanna's Road to Halftime ahead of Super Bowl LVII.txt new file mode 100644 index 0000000000000000000000000000000000000000..7f0803d11fad3424195d1527c321db9fa3871dc2 --- /dev/null +++ b/news/AAPL/2023.01.30/Apple Music launches Rihanna's Road to Halftime ahead of Super Bowl LVII.txt @@ -0,0 +1,31 @@ + +Apple Music® is bringing Rihanna fans new and exclusive ways to experience and celebrate her musical genius as they gear up for the highly anticipated Apple Music Super Bowl LVII Halftime Show on Sunday, February 12, 2023, at State Farm Stadium in Glendale, Arizona. Earlier this month, Rihanna teased fans with a first look trailer. As the clock ticks closer to the big show, fans can experience Rihanna’s music with the deeply enriched multidimensional sound of Apple Music. Starting today, subscribers can access the megastar’s songs with Spatial Audio in Dolby Atmos, showcasing her heart-pumping anthems throughout her career mixing pop, rap, R&B, and EDM sounds under her ever-expanding umbrella. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230130005536/en/Rihanna takes the stage at the first-ever Apple Music Super Bowl LVII Halftime Show on Sunday, February 12, 2023. (Photo: Business Wire) +“Rihanna is one of the most prolific artists of our time, and we, along with her many fans across the globe, cannot wait to see her take the stage at the first Apple Music Super Bowl Halftime Show,” said Oliver Schusser, Apple’s vice president of Apple Music and Beats®. “We are excited to celebrate Rihanna, and give her fans a new way to experience her music with Spatial Audio, as well as exclusive content from Apple Music.” + +Super Bowl LVII Halftime Show Press Conference + +On February 9, 2023, at 10 a.m. MST, Apple Music Radio’s Nadeska Alexis will interview Rihanna at the Super Bowl LVII Halftime Show Press Conference. Viewers can tune in live or watch on demand on Apple Music; on @AppleMusic’s TikTok, Instagram, YouTube, and Twitter; or on the NFL Network. + +Apple Music Sing with Rihanna + +If fans want to sing along, the new Apple Music Sing feature allows them to take the mic on their favorite Rihanna songs to hit those solos, perform duets, sing backup, and more on all compatible iPhone and iPad models as well as the new Apple TV 4K. + +Apple Music Radio + +For the best seat in the house, the award-winning Apple Music Radio will be on the ground and in the stands to soundtrack all the festivities leading up to Rihanna’s big night. Special exclusive programming will include “Halftime Hype Radio,” a 10-part series reflecting on some of the most notable Super Bowl Halftime performances of all time; “Rihanna Revisited Radio,” an eight-episode roundtable exploring the cultural impact of the elusive singer’s catalog; and “Live from Super Bowl LVII,” featuring daily live broadcasts that capture all of the excitement in Arizona leading into the weekend with Apple Music Radio hosts Zane Lowe, Ebro Darden, and Nadeska Alexis, plus an array of surprise special guests. It all wraps up on Monday, February 13, with “Halftime Recap Radio” to celebrate the debut of Apple Music’s Super Bowl Halftime Show and recap this monumental moment in music. Listeners can tune in to Apple Music Radio at apple.co/_Radio. + +NFL Team Playlists + +And for fans looking to get ready for some football, Rihanna’s Road to Halftime on Apple Music will include an official collection of 32 playlists featuring the top songs that each NFL team listens to in the locker room, the weight room, and on game day. Additional pregame moments will include exclusive warmup playlists curated by NFL players like Travis Kelce (Kansas City Chiefs), Stefon Diggs (Buffalo Bills), Trevon Diggs (Dallas Cowboys), Davante Adams (Las Vegas Raiders), and Dak Prescott (Dallas Cowboys), plus a throwback video playlist revisiting halftime performances from past games. + +Apple Music’s multiyear partnership brings together the Super Bowl Halftime Show — the most-watched musical performance of the year — with Apple Music, which celebrates musicians, songwriters, producers, and fans, and offers the world’s best music listening experience with a catalog of over 100 million songs and immersive sound powered by Spatial Audio. Apple revolutionized the music experience with iPod and iTunes, and today continues the award-winning tradition with Apple Music. + +Keep up with the latest updates from Rihanna’s Road to Halftime on Apple Music by visiting apple.co/_RoadToSBLVII, and get exclusive behind-the-scenes content by following @AppleMusic on TikTok, Instagram, YouTube, and Twitter. The halftime show performance will also be available after the show on Apple Music. + +Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it. + +NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or call Apple’s Media Helpline at (408) 974-2042. + +© 2023 Apple Inc. All rights reserved. Apple, the Apple logo, and Apple Music are trademarks of Apple. Other company and product names may be trademarks of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230130005536/en/ \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Apple's India supplier Jabil making AirPods parts for export-Bloomberg.txt b/news/AAPL/2023.01.30/Apple's India supplier Jabil making AirPods parts for export-Bloomberg.txt new file mode 100644 index 0000000000000000000000000000000000000000..32a4431802a56ccb9a87fe26abf708e3bb126adc --- /dev/null +++ b/news/AAPL/2023.01.30/Apple's India supplier Jabil making AirPods parts for export-Bloomberg.txt @@ -0,0 +1 @@ +Apple Inc and Jabil did not immediately respond to a Reuters request for comment.The move marks another step in Apple's plans to shift its manufacturing away from China amid rising trade and geopolitical tensions between Beijing and Washington.The iPhone maker wants India to account for up to 25% of its production, from about 5%-7% now.Apple has bet big on India since it began iPhone assembly in the country in 2017, in line with the Indian government's push for local manufacturing. (Reporting by Siddharth Jindal in Bengaluru; Editing by Savio D'Souza) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Asian stocks slip as investors eye central bank hikes.txt b/news/AAPL/2023.01.30/Asian stocks slip as investors eye central bank hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..8a07647ecf4e9245d7559e0d7c0bb6d1675c779f --- /dev/null +++ b/news/AAPL/2023.01.30/Asian stocks slip as investors eye central bank hikes.txt @@ -0,0 +1 @@ +Investors broadly expect the U.S. Federal Reserve will raise interest rates by 25 basis points (bps) on Wednesday. Rate announcements are due on Thursday from both the Bank of England and the European Central Bank - and both are expected to hike rates by 50 bps.Meanwhile, more than 100 S&P 500 companies including Apple, Amazon.com and Google parent Alphabet are expected to report results this week, which also will see the publication of closely watched U.S. employment numbers."It's a big week for both central banks and U.S. equities, with ... some of the household names due to make earnings announcements that will provide a micro overview of the macro economy," ANZ analysts said in a note."We expect a 25 bps (U.S.) rate rise and anticipate that the Fed will caution against an early pause in the tightening cycle ... Risk appetite could be vulnerable to a correction."Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1%. U.S. stock futures, the S&P 500 e-minis, rose 0.1%. Japan's Nikkei stock index slid 0.1% while Australian shares were up 0.2%. China's blue-chip CSI300 index remained flat in early trade. Hong Kong's Hang Seng index opened up 0.4%.On Monday, U.S. stocks lost ground with the major indexes sinking, weighed down by declines in technology and other giant corporations' shares. The Dow Jones Industrial Average fell 0.8% to 33,717.09, the S&P 500 lost 1.3% to 4,017.77 and the Nasdaq Composite dropped 2.0% to 11,393.81.Despite Monday's declines, the S&P 500 remained on track to post its biggest January gain since 2019.At the end of the Fed's two-day policy meeting on Wednesday investors will be glued to Chair Jerome Powell's news conference for clues on whether the rate-hiking cycle may be coming to a close, and for signs of how long rates could stay elevated. Markets will also grapple with a flood of U.S. economic data, culminating in Friday's payrolls report for January. Investors see signs of weakening in the labour market as a key factor in bringing down high inflation. U.S. Treasury yields remained firm ahead of the central bank meetings and economic data, with the yield on benchmark 10-year Treasury notes US10YT=RR standing at 3.5384% compared with its U.S. close of 3.551% on Monday. The two-year yield, which rises with traders' expectations of higher Fed fund rates, touched 4.2402% compared with a U.S. close of 4.261%. In currencies, the U.S. dollar, which was poised for its fourth month of declines, was down at 102.19 against a basket of other major currencies. The European single currency was up 0.1% on the day at $1.0852, having gained 1.4% in a month.In the energy market, oil prices fell on Monday ahead of the expected hikes by central banks and signals of strong Russian exports. U.S. crude ticked up 0.2% to $78.02 a barrel while Brent crude settled at $84.9 per barrel early in the Asia session. Gold was slightly higher. Spot gold was traded at $1922.91 per ounce. [GOL/] (Editing by Kenneth Maxwell)By Julie Zhu \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Big tech stocks 'still have upside' -advisor.txt b/news/AAPL/2023.01.30/Big tech stocks 'still have upside' -advisor.txt new file mode 100644 index 0000000000000000000000000000000000000000..0aa5178b153e96387d4f86aca40a715f6ea58989 --- /dev/null +++ b/news/AAPL/2023.01.30/Big tech stocks 'still have upside' -advisor.txt @@ -0,0 +1 @@ +While the tech sector has been hit by layoffs, Miller notes that "compared to the huge amount of hiring these companies did during the pandemic, these layoffs are really minor." \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Copper under pressure, China demand worry dominates mood.txt b/news/AAPL/2023.01.30/Copper under pressure, China demand worry dominates mood.txt new file mode 100644 index 0000000000000000000000000000000000000000..c7b59a4b8e170c902094ec118f64b59b91f19b6b --- /dev/null +++ b/news/AAPL/2023.01.30/Copper under pressure, China demand worry dominates mood.txt @@ -0,0 +1,32 @@ +LONDON, Jan 30 (Reuters) - Copper prices dropped on +Monday as worries about the outlook for demand in top consumer +China dominated sentiment ahead of data from the country's +manufacturing sector, while a softer dollar provided some +support.Benchmark copper on the London Metal Exchange was +down 0.7% at $9,197 a tonne at 1702 GMT. It hit a seven-month +high earlier this month as speculators piled in after China +removed its COVID-19 restrictions."Production of metal/copper containing goods in China, +things like cars and washing machines, rose significantly last +year. They don't need to be produced this year even if shoppers +return," said Julius Baer analyst Carsten Menke.Neither does Menke expect any boost to metals demand from +the property sector. "China's population is shrinking, demand +for property is declining structurally, why would the government +use property to stimulate growth?"Clues to demand prospects will come from surveys of +purchasing managers in China's manufacturing sector this week.A lower U.S. currency makes dollar-priced metals cheaper for +holders of other currencies, which could boost demand.The future direction of interest and currency rates could be +determined by earnings reports from Apple, Alphabet +and Amazon and a meeting of the Federal +Reserve this week."We have long argued that the Fed will need to take a rate +pause at some point, but we think it will not do so at this +particular meeting," Edward Meir, analyst at ED&F Man Capital +Markets, said.Technical support for copper is around $9,025 where a +Fibonacci retracement level and the 21-day moving average meet.Meanwhile, the zinc market is focused on dwindling stocks in +LME approved warehouses , which at 17,425 tonnes are +at their lowest since 1989 and large holdings of zinc warrants +and cash contracts <0#LME-WHC>.Concern about availability on the LME has created a premium +or backwardation for the cash over the three-month zinc +contracts , which was last trading at $26 a tonne.Three-month zinc was up 0.7% at $3,438 a tonne.In other metals, aluminium was down 1.5% at $2,588 a +tonne, lead fell 1.7% to $2,145, tin ceded 3.6% +to $29,740 and nickel was up 1.5% at $29,350. +(Reporting by Pratima Desai; editing by Kirsten Donovan and +Barbara Lewis) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Every Dog Has His Day (In Court).txt b/news/AAPL/2023.01.30/Every Dog Has His Day (In Court).txt new file mode 100644 index 0000000000000000000000000000000000000000..7dbb5015930422afa0ea1d78b7024c11bc3a9e28 --- /dev/null +++ b/news/AAPL/2023.01.30/Every Dog Has His Day (In Court).txt @@ -0,0 +1,15 @@ +The beginning of a new year in Intellectual Property (IP) carries with it the holdovers of the old - litigation and all. But some things are worth looking forward to every month. So we put our best foot forward and get 2023's IP news off to a flying start with two fascinating stories from the United States and a copyright conundrum to consider. +The marketplace can be a dog-eat-dog world at the best of times, but the dispute between Jack Daniel's and VIP Products LLC is no mere barroom brawl. What started out as just another case of alleged trademark infringement has escalated to involve the highest echelons of the United States government's judicial and executive branches.And it is a story with all the ingredients of a classic country and western ballad, full of fights, the law, whiskey bottles and… dog toys.Whiskey maker Jack Daniel's goes to great pains to protect its registered trademarks, not least those pertaining to its flagship product and the distinctive container it comes in. So when VIP Products marketed a dog toy in the shape of Jack Daniel's iconic bottle, the latter's hackles were up, prompting them to send a cease and desist letter. But VIP did not back down, approaching an Arizona federal court in 2014 to rule that the parodic nature of the "Bad Spaniels" toy did not infringe nor dilute any trademark rights belonging to the distiller. The idea of diluting Jack Daniel's is anathema to many, and Senior Judge Stephen McNamee is one of them, ruling in 2018 that there was a likelihood of confusion and reputational harm.Many aspects of the Jack Daniel's visual presentation, or "trade dress," are individually protected with their own trademark registrations, including the stylized name and "Old No. 7 BRAND" logo. (Image credit: monticellllo - stock.adobe.com)But how could a reasonable person mistake a dog toy, boasting such delectable selling points as "43% POO BY VOL." and "100% SMELLY," with what is arguably the world's most famous Tennessee whiskey (not bourbon)? Surely one would have to be blind drunk.Be that as it may, it is not the point of contention. This is because trademarks indicate the commercial origin of a product or service. On top of that, Jack Daniel's owns an extensive portfolio of trademarks covering products in numerous Nice Classifications, including Class 28, containing toys for pets. Therefore, a consumer could conceivably misinterpret the "Bad Spaniels" toy as official Jack Daniel's merchandise, earthy messages notwithstanding.However, this decision was overturned two years later by the 9th U.S. Circuit Court of Appeals in San Francisco. The Californian panel of judges concluded that the squeaky toy was "an expressive work entitled to First Amendment protections." Though the humor may be of a very different color to whiskey's syrupy gold, it was still protected speech in the eyes of the Appeals Court.Finally, on November 21, 2022, the Supreme Court accepted a second petition for a writ of certiorari filed by Jack Daniel's. But before the matter is brought to a close, there is one final wag to this tale.On January 18, 2023, the Solicitor General of the Department of Justice, the U.S. government's official representative before the Supreme Court, filed an amicus curiae (friend of the court) brief  supportive of Jack Daniel's appeal. The brief was critical of both prior judgments by the lower courts: "The parodic nature of an allegedly infringing use of a mark in commerce should be taken into account when applying the Lanham Act's likelihood-of-confusion standard, but it does not justify adding to or displacing the statutory standard. […] The court of appeals did not apply that standard at all, and the district court wrongly disregarded respondent's claim of parody."While the Supreme Court is not obliged to consider the arguments as made by Solicitor General Elizabeth Prelogar's office, the highest court in the land typically gives close ear to its peers in the executive branch.All that remains to be seen is who is barking up the wrong tree. +This relationship between the Supreme Court and the Solicitor General's office is far from one way. The day before the amicus curiae brief was filed, the Supreme Court requested the Solicitor General's opinion on whether to review a patent infringement case brought by the California Institute of Technology (Caltech) against Apple and Broadcom.Caltech's grievance relates to a series of patents awarded for improved wireless data transmission between 2006 and 2012. The California research institute alleged that the Broadcom chips used in millions of Apple mobile devices infringed upon its IP rights to Wi-Fi developments. In 2020, a jury trial in the District of California awarded Caltech an eye-watering $1.1 billion USD (plus interest) in damages from Apple and Broadcom, a figure vacated two years later upon appeal.The smartphone revolution that Apple kickstarted was just one in a series of events that transformed a company teetering on the verge of bankruptcy in 1997 into a multi-trillion-dollar behemoth.Though the U.S. Court of Appeals for the Federal Circuit set aside this figure in February last year, it upheld most of the findings of infringement and remanded for a new trial on damages. With the chips very much down, Apple and Broadcom approached the Supreme Court, maintaining that they had been unacceptably prevented from arguing the invalidity of the Caltech patents.The case appears to be leaning in Caltech's favor, but like the Wi-Fi signal you might be using to read this article, the questions of validity, late challenges and damages are still up in the air. +Not long ago, we discussed the uncertainty surrounding how images generated by artificial intelligence (AI) interact with the current IP framework. In exploring this topic, we asked:Unfortunately, there are no concrete answers to these questions as of yet, so a few intrepid artists are taking matters into their own hands by goading one of the biggest copyright heavyweights around into a fight.Eric Bourdages, a 3D character artist, recently caused a stir on Twitter by encouraging others to sell products bearing AI-generated images of Mickey Mouse, superheroes and celebrities. Evidently, Bourdages' intention is not to profit from piracy but to establish a clear legal precedent by forcing IP juggernauts to defend their plethora of trademarks and copyrights against AI derivations.It cannot be denied AI image generators have a talent for controversy. The picture they have painted is awash with clashing IP interests, bold themes of ownership and creativity and striking statements on the nature of copyrights that simultaneously invite and challenge interpretation.Though the convergence of AI and IP involves far more than specific rights holders or programs, much of the wrangling centers on a dataset of some 5.85 billion image-text pairings called LAION-5B. That this collection, used to train various AI programs, was gathered without the knowledge and consent of copyright holders has incensed artists such as Bourdages.Expanding copyright exemptions to include "non-consumptive use" by search engines and data-caching programs remains a controversial solution, yet is unlikely to quell objections to derived images. As early as April 2019, the EU introduced two exceptions in its Directive on copyright and related rights in the Digital Single Market. The first permits unfettered access to online data for the purposes of scientific research ("Article 3"), and the second provides for commercial text and data mining ("Article 4"); however, rights holders may choose to withhold access to their material under Article 4.The United Kingdom Intellectual Property Office (UKIPO) has proposed even broader permissions, spurring the House of Lords to admonish strongly against the potential harm to copyright holders and the creative industries. Perhaps sensing the time was right to pursue legal remedy in the United Kingdom, Getty Images announced on January 19, 2023, that it had commenced legal proceedings against Stability AI in the High Court of Justice in London. The image licensing giant claims that "Stability AI unlawfully copied and processed millions of images protected by copyright and the associated metadata owned or represented by Getty Images absent a license."Though the United Kingdom's fair dealing exceptions are somewhat tighter than the fair use standards present in the United States, this litigation could be the saving grace of independent artists everywhere who may be inclined toward IP martyrdom.It seems there is no need to take the mickey out of Mickey after all.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Dennemeyer   +Dennemeyer Group +55, rue des Bruyeres +1274 Howald +Luxembourg +LUXEMBOURG +Tel: 368403609 +Fax: 368403610 +E-mail: crupp@dennemeyer.com +URL: www.dennemeyer.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AAPL/2023.01.30/It's all about central banks this week.txt b/news/AAPL/2023.01.30/It's all about central banks this week.txt new file mode 100644 index 0000000000000000000000000000000000000000..b0c68f0a516bf423e0dee1534c18d36768253e7f --- /dev/null +++ b/news/AAPL/2023.01.30/It's all about central banks this week.txt @@ -0,0 +1,38 @@ + +I think it's safe to say that the Fed's decision on Wednesday will be this week's focus. For the new readers or listeners among you, I will explain why. This is because investors generally try to anticipate what is going to happen in the foreseeable future to optimize their asset allocations. For example, investing in companies that have strong earnings or low debt when the economic outlook deteriorates. Or investing in cyclical companies whose earnings are soaring when the economy is about to rebound. There are many classic patterns of this type in finance. + +Since the financial crisis of 2008, central banks have taken control of economic destinies by drowning fears of financial collapse in new money. They have accustomed investors to evolving in a world of abundant liquidity. As a result, these investors have taken increasingly risky bets. Yes, when money flows freely, it can irrigate areas where investors would not even dream of going under normal conditions. Speculative bubbles are formed. Some of them burst in 2022, notably because central banks were forced to reduce access to free money for fear of an inflationary spiral. To do so, they unraveled their asset purchase programs while raising their key rates. Investors then drastically reduced their riskiest bets: goodbye SPAC, meme-shares, companies without business models, crazy crypto-currencies, etc. Currently, the market is watching for the moment when central banks (and when I say central banks, it's mostly the Fed) will stop raising rates. Because that means two things: one, that the economic situation has stabilized. On the other hand, it means that the time when rates will come down again is approaching. In other words, a new growth cycle could appear and money will be cheaper. Hence the return of risk appetite. +This is more or less the situation now. And investors are looking to get two steps ahead. They know that the Fed is going to raise rates again, probably twice by the end of spring, but they are already gambling on the upturn that they hope will follow. To avoid missing the bandwagon, they're getting on the bandwagon early, if you will. On Wednesday, the Fed will likely announce another rate hike, but limited to the bare minimum, 25 basis points. Will it try to cool the market's ardor? This is the real unknown of the week. +Because January saw buyers return to the stock market in droves. In particular on cyclical or slightly daring bets. The taste for risk can be seen in the index charts: the MSCI China, the Hang Seng and the Argentine Merval rose by more than 14% in January. The Nasdaq, which was crushed in 2022, has recovered 11% in one month. Many markets have gained 9 to 10% since January 1, which is exceptional: Paris, Madrid and Seoul in particular. Last week, American indices were at their best, while Europe, which had made a better start in 2023, made only modest progress. +The week will be marked by the monetary policy decisions of three central banks. The Fed on Wednesday, then the European Central Bank and the Bank of England on Thursday. There will also be the earnings reports of some 40 companies worth more than $100 billion on the agenda this week. In the United States, Apple, Alphabet and Amazon on the evening of February 2. In Europe, Novo Nordisk, Novartis, Roche, Shell and Sanofi among others. But they are not the only ones and a few hundred smaller companies are also scheduled. +To end this column, I will mention a few important developments over the weekend: The United States, Japan and the Netherlands have reached an agreement to limit China's access to certain key semiconductor technologies. On a related topic, the Wall Street Journal revealed that China's main military nuclear lab continued to use advanced U.S. chips despite the 1997 embargo. Meanwhile, House Speaker Kevin McCarthy announced that he would meet with Speaker Joe Biden on Wednesday to discuss raising the federal debt ceiling. +Mainland Chinese equity markets reopened this morning after a week-long break for the Lunar New Year. +This morning, U.S. futures were all down, with the Nasdaq 100 losing 1.2% due to a fall in growth stocks ahead of central banks decisions. +  +Economic highlights of the day: +There aren't any important indicators today in the US. +The dollar is down 0.2% against the euro to EUR 0.9179 and is stable against the pound at GBP 0.8070. The ounce of gold is trading at USD 1925. Oil is losing ground, with North Sea Brent crude at USD 86.4 per barrel and US light crude WTI at USD 79.78. The yield on 10-year US debt is stagnant at 3.50%. Bitcoin is down to USD 23,000. +  +In corporate news: +* Apple, Amazon and Alphabet, which are due to report their fourth quarter results this week, are each down about 1.5% in premarket trading. +* Wall Street-listed Chinese companies Alibaba, Bilibili, Pinduoduo and JD.Com are down 4 percent to 7.5 percent in premarket trading after Mike McCaul, the new chairman of the U.S. House of Representatives' Foreign Affairs Committee, said Sunday that the risks of a conflict with China over Taiwan are "very high". +* Goldman Sachs Group has restructured its assets in Russia, which could pave the way for a full exit from the country, RBC reported Monday, citing two investment market sources. +* Biogen and Eisai announced in a joint statement that the Japanese Ministry of Health has granted priority review status to the two companies' Alzheimer's disease treatment lecanemab. +* Boeing - The U.S. aircraft manufacturer will deliver on Tuesday to Atlas Air the last Boeing 747, a twin-aisle aircraft designed in the late 1960s to meet the demand for mass travel and which will be discontinued. +  +Analyst recommendations: + +Axalta: Citi raised the recommendation to buy from neutral. PT up 20% to $35.19. +Eastman Chemical: Vertical Research Partners downgrades to hold from buy. PT up 6% to $92. +Federal Realty: Compass Point Research & Trading raised its recommendation to buy from neutral. PT up 12% to $125. +HCA Healthcare: Truist Securities raises price target to $290 from $270. Maintains buy rating. +Kohl's: Goldman Sachs reinstated coverage with a recommendation of sell. PT down 14% to $27. +Lockheed Martin: DZ Bank AG upgrades to buy from hold. PT up 14% to $523. +Macy's: Goldman Sachs reinstated coverage with a recommendation of buy. PT up 21% from last price to $28. +Nordstrom: Goldman Sachs reinstated coverage with a recommendation of neutral. PT up 8.6%  from last price to $20. +Regeneron: Cowen upgrades to outperform from market perform. PT jumps 18% to $875. +Rentokil: Numis moves from accumulate to hold targeting GBp 470. +Tanger: Compass Point Research & Trading LLC downgrades to neutral from buy. PT up 9% to $21. +Tesla: Berenberg upgrades to buy from hold. PT up 12% to $200. +Uber: MoffettNathanson initiated coverage with a recommendation of outperform. PT set to $47. + diff --git a/news/AAPL/2023.01.30/Japan's Nikkei tracks Wall Street gains to end at over 1-month high.txt b/news/AAPL/2023.01.30/Japan's Nikkei tracks Wall Street gains to end at over 1-month high.txt new file mode 100644 index 0000000000000000000000000000000000000000..98928ea4869e92300340681b4aa7c3a4b46bad8b --- /dev/null +++ b/news/AAPL/2023.01.30/Japan's Nikkei tracks Wall Street gains to end at over 1-month high.txt @@ -0,0 +1,30 @@ +TOKYO, Jan 30 (Reuters) - Japan's Nikkei index ended at +a more than one-month high on Monday, tracking Wall Street gains +in the last session, although the gains were capped by caution +ahead of the U.S. Federal Reserve's meeting and domestic +corporate earnings announcements.The Nikkei share average gained 0.19% to close at +27,433.40, its highest close since Dec. 16, after briefly +slipping in the negative territory. The broader Topix +was marginally down 0.01% at 1,982.40.The week is filled with market-moving events, so investors +are being more cautious, said Shigetoshi Kamada, general manager +at the research department at Tachibana Securities."I am unsure if this (upbeat) momentum will continue this +week. Investors are cautious and could sell stocks to book +profits ahead of the Fed meeting, U.S. employment data as well +as domestic corporate results."Wall Street rose on Friday, marking the end of a rocky week +in which economic data and corporate earnings guidance hinted at +softening demand but also economic resiliency ahead of the U.S. +Federal Open Market Committee this week.A string of high profile earnings reports are on tap +globally, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Investors are also reacting to Japan's corporate outlook, as +the earnings season reaches its peak this week.Fanuc jumped 3.58% after the robot maker raised its +annual operating profit outlook and announced a 5-for-1 stock +split.Shin-Etsu Chemical, up 5.08%, posted a fourth +straight session of gains as the silicon wafter maker raised its +annual operating profit outlook.Japanese semiconductor equipment makers showed muted +reaction to news that Washington had made progress towards a +deal to curb exports of some advanced chip-making equipment to +China with several governments.Tokyo Electron rose 0.68% and Advantest +lost 0.32%, while Nikon inched up 0.16%. +(Reporting by Junko Fujita; editing by Uttaresh.V and Rashmi +Aich) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Marketmind: Fasten your seatbelts.txt b/news/AAPL/2023.01.30/Marketmind: Fasten your seatbelts.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9dd4596c217f7493ad88980bc3edf3e5766280e --- /dev/null +++ b/news/AAPL/2023.01.30/Marketmind: Fasten your seatbelts.txt @@ -0,0 +1 @@ +Wall Street's downbeat start to an action-packed week has set a bumpy course for Asian markets on Tuesday.U.S. stocks appeared to take a breather near the end of a month of solid gains, dipping into red as market participants gird their loins for multiple central bank policy decisions and a spate of high profile megacap earnings, with the Labor Department's hotly anticipated January employment report due on Friday.The Federal Reserve convenes its two-day monetary policy meeting on Tuesday, which is expected to culminate on Wednesday with a bite-sized 25 basis point hike to the Fed funds target rate.The Bank of England and the European Central Bank are poised to follow the Fed by hiking crucial interest rates by a more aggressive 50 basis points.On the earnings front, Caterpillar Inc, General Motors Co, Pfizer Inc, United Parcel Service Inc and McDonald's Corp are expected before Tuesday's opening bell.Meta Platforms Inc waits in the wings on Wednesday, with Apple Inc, Amazon.com and Alphabet Inc on deck for Thursday.Those earnings calls, along with Fed Chairman Jerome Powell's post-rate-decision remarks, will be parsed and scrutinized by investors for clues regarding the likelihood, severity and timing of a potential recession.Elsewhere, the U.S. dollar gained ground against a basket of world currencies, crude prices plunged as the prospect of rate hikes and robust Russian exports dampened optimism over rebounding Chinese demand. Speaking of which, the world's second-largest economy's fiscal revenue growth decelerated sharply in 2022 to 0.6% from 10.7% in 2021, largely due to Beijing's strict COVID-19 policies.Those policies have since been relaxed, sparking hopes of demand revival in China, which could take some of the sting of restrictive central bank policy. Here are some key developments that could provide more direction to markets on Tuesday:- South Korea and Japan are expected to post December industrial output and retail sales data- China due to release manufacturing and composite PMI reports for January- U.S. will follow Case-Shiller home prices (November), consumer confidence (January) and Chicago PMI (January) (Reporting by Stephen Culp; Editing by Josie Kao)By Stephen Culp \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Marketmind: This might hurt.txt b/news/AAPL/2023.01.30/Marketmind: This might hurt.txt new file mode 100644 index 0000000000000000000000000000000000000000..b4057241bd779c3b5d02b8a8db38f70e32541476 --- /dev/null +++ b/news/AAPL/2023.01.30/Marketmind: This might hurt.txt @@ -0,0 +1 @@ +This week promises to be one of the most action-packed in a while. Three of the world's most influential central banks are likely to raise rates to their highest since the financial crisis, while Q4 earnings season is starting to gather pace.Big Tech royalty in the form of Apple, Alphabet and Amazon deliver earnings. With the tech sector bleeding profitability and jobs, whatever these three say on that front could carry almost as much weight as whatever the Federal Reserve says when it pronounces on the economic outlook on Wednesday.With 109 of the S&P's 500 components set to report in the coming five days alone, investors are going to get a non-stop barrage of hot takes on anything from inflation to the impact of the gyrations of the dollar, to China and beyond.The euphoria that marked the end of 2022, fed by China dismantling its COVID restrictions and more benign energy prices, has carried through this month, despite a decidedly gloomy earnings season and an insistence among central bankers that high inflation isn't going anywhere any time soon.The S&P itself is heading for a 6.1% rise this month - which would mark its best January since 2019. The first month of the year tends to be one of the strongest anyway, according to Refinitiv data.In the last 94 years, the S&P has risen by 1.2% on average in January, compared with an average rise of 1.3% in December, the month with the highest returns.One of the major boosts that the stock market has enjoyed this January has been the seemingly cast-iron conviction among traders and investors that the Fed, while not bluffing exactly, won't raise rates as much as policymakers say they will, and that inflation won't prove nearly as sticky.This has translated into a near 30 basis-point drop in 10-year Treasury yields and the S&P hasn't got as much bang for its buck in the month of January from a drop in yields like this in recent memory.Even in strong Januarys, such as that of 2019, when the index rose by 7%, 10-year yields fell only 6 bps. In January 1987, when the index rose 13%, yields fell just 6 bps.With so much riding on the Fed being wrong and the markets being right about the outlook for monetary policy, there would appear to be a lot more scope than usual for equity bulls to get a smack in the face from anything that might force a rethink on where U.S. rates might peak. Key developments that should provide more direction to markets on Monday: - Dallas Fed Manufacturing Business Index January -18.8 prior- Dallas Fed PCE 3.4% prior- German economy unexpectedly shrinks in Q4 (Reporting by Amanda Cooper; Editing by Hugh Lawson) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus.txt b/news/AAPL/2023.01.30/Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus.txt new file mode 100644 index 0000000000000000000000000000000000000000..0ab02216967df8173e8070c4fbe3ef229b56f935 --- /dev/null +++ b/news/AAPL/2023.01.30/Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Meta, Alphabet, Amazon.com slide ahead of earnings*Fed decision on interest rates on Wednesday*Indexes down: Nasdaq 1.29%, S&P 0.74%, Dow 0.23%Jan 30 (Reuters) - The tech-focused Nasdaq fell more +than 1% on Monday as megacap growth stocks including Apple, +Amazon and Alphabet fell ahead of their earnings reports this +week, while investors awaited the U.S. Federal Reserve's +rate-setting meeting.The central bank is seen hiking the Fed funds rate by 25 +basis points (bps) at the end of its two-day policy meeting on +Wednesday, followed by Fed Chair Jerome Powell's speech, which +will be scrutinized for any signs of further increases."How strong of a language he (Powell) uses is what it's +going to come down to," said Andre Bakhos, president at Ingenium +Analytics LLC in Bernardsville, New Jersey.This will likely be the smallest rate increase since the +Fed kicked off its tightening cycle 10 months ago with a 25 bps +hike, with financial markets pricing in a final rate hike in +March.Money markets now see rates peaking at 4.9% in June, still +below the 5% level expected by Fed policymakers.After a slew of layoffs by large-cap tech and financial +firms through the month, investors will now keep an eye on the +Labor Department's January nonfarm payrolls data expected on +Friday.A total of 107 S&P 500 firms are expected to report +quarterly results in the busiest week of the earnings season, +including heavyweight growth companies Apple Inc, +Amazon.com Inc, Alphabet Inc and Meta +Platforms Inc, each down between 1% to 2%.Analysts expect S&P 500 earnings for the fourth quarter to +decline 3%, compared with a 1.6% drop expected at the beginning +of the year, according to Refinitiv data.Wall Street is expected to end the month higher, with the +Nasdaq and the S&P 500 Growth index recouping +more than half their monthly losses from December. The S&P 500 +index is set for the best start to the year since 2019.Tighter monetary policies have stood in the way of growth +firms expanding their businesses, which have also been pressured +for much of last year by high Treasury yields.Bakhos said that the decline in growth stocks on Monday +could be due to some profit-taking, noting that earnings from +these companies could be less dire than what most expect.The European Central Bank and the Bank of England are also +seen raising interest rates later in the week.At 12:31 p.m. ET, the Dow Jones Industrial Average +was down 79.27 points, or 0.23%, at 33,898.81, the S&P +500 was down 30.03 points, or 0.74%, at 4,040.53, and the +Nasdaq Composite was down 149.66 points, or 1.29%, at +11,472.05.Johnson & Johnson slipped 3% on the dismissal of a +bankruptcy petition filed by its LTL Management unit by the 3rd +U.S. Circuit Court of Appeals.American Express Co rose 2.7% after several +brokerages raised price targets on the stock on its strong +full-year forecast.Declining issues outnumbered advancers for a 1.70-to-1 ratio +on the NYSE and for a 1.66-to-1 ratio on the Nasdaq.The S&P index recorded five new 52-week highs and no new +lows, while the Nasdaq recorded 46 new highs and 13 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Nasdaq leads drop in futures ahead of Fed rate decision.txt b/news/AAPL/2023.01.30/Nasdaq leads drop in futures ahead of Fed rate decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..705171f0edf678ebe1d1414f5a7f56cfb7e8b6e2 --- /dev/null +++ b/news/AAPL/2023.01.30/Nasdaq leads drop in futures ahead of Fed rate decision.txt @@ -0,0 +1 @@ +The U.S. Federal Reserve is seen hiking the Fed funds rate by 25 basis points (bps) at the end of its two-day policy meeting on Wednesday, close on the heels of data showing signs of slowing demand and cooling inflation. "The interest rate snowball is gathering speed, and its squashing down demand in its path," Susannah Streeter, markets analyst at Hargreaves Lansdown wrote in a client note. "Although rate rises are causing the U.S. economy to slip up, hopes have come in flurries that it will still have a soft landing. But there is nervousness ahead of the crucial Fed meeting this week." This will likely be the smallest rate increase since the Fed kicked off its tightening cycle 10 months ago with a 25 bps hike, with financial markets pricing in a final rate hike in March. Money markets now see rates peaking at 4.9% in June, still below the 5% level expected by Fed policymakers. [FEDWATCH]Heavyweight growth stocks, including Apple Inc, Amazon.com Inc and Alphabet Inc, fell about 1.5% each in premarket trading. They will report quarterly earnings on Thursday, after the bell.The tech-heavy Nasdaq index notched its fourth straight weekly gain on Friday.At 6:25 a.m. ET, Dow e-minis were down 242 points, or 0.71%, S&P 500 e-minis were down 40.25 points, or 0.99%, and Nasdaq 100 e-minis were down 164 points, or 1.34%. Other major central banks including the European Central Bank and the Bank of England are also seen raising interest rates later in the week. (Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/New Apple Watch Models Unveiled for 2023 with Advanced Fitness and Health Tracking.txt b/news/AAPL/2023.01.30/New Apple Watch Models Unveiled for 2023 with Advanced Fitness and Health Tracking.txt new file mode 100644 index 0000000000000000000000000000000000000000..90913c1ba822364d78a9d3b987c744a098b4ba56 --- /dev/null +++ b/news/AAPL/2023.01.30/New Apple Watch Models Unveiled for 2023 with Advanced Fitness and Health Tracking.txt @@ -0,0 +1,30 @@ +New York, NY January 30, 2023 --(PR.com)-- Universal Remote Codes unveils newest Apple Watch models for 2023. + +Universal Remote Codes confirmed that Apple Inc. announced today the release of its newest Apple Watch models for 2023. The latest iteration of the popular smartwatch series boasts a host of new features and improvements, including advanced fitness and health tracking, improved battery life, and a sleek new design. + +The new Apple Watch models come in two versions: the Apple Watch Series 7 and the Apple Watch SE. The Series 7 features a larger display and improved water resistance, making it perfect for swimmers and triathletes. It also includes a new ECG app that can take an electrocardiogram in just 30 seconds, and an updated heart rate monitor for more accurate tracking during workouts. + +The Apple Watch SE, on the other hand, is a more budget-friendly option that still includes many of the advanced health and fitness features of the Series 7. It also includes an always-on display and fall detection, making it a great choice for older adults or those with mobility concerns. + +Both models come with the latest version of watchOS, which includes new workout types, improved activity tracking, and enhanced communication features. They are also compatible with the new Apple Fitness+ service, which offers personalized workout plans and video classes led by certified trainers. + +"We're thrilled to be introducing our newest Apple Watch models for 2023," said Tim Cook, CEO of Apple. "These watches are packed with advanced features and are designed to help users stay healthy and active, while also keeping them connected to the people and information they care about most." + +The Apple Watch Series 7 and SE are available for pre-order starting today and will be available in store and online starting February 1. + +For more information on the Apple Watch, please visit their website MyUniversalRemoteCodes.com or contact them directly. + +Contact: +John Mark +My Universal Remote Codes +admin@myuniversalremotecodes.com +(409) 908-7457 +21 Infinite Loop Cupertino, CA 95014 +www.myuniversalremotecodes.comContact Information: +Universal Remote Codes +John Mark ++1 409-908-7457 +Contact via Email +https://myuniversalremotecodes.comRead the full story here: https://www.pr.com/press-release/878072 +Press Release Distributed by PR.comCopyright © 2023 PR.com and its licensors +, source US Press Releases \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Shares and bonds nervy as rate-hike week looms.txt b/news/AAPL/2023.01.30/Shares and bonds nervy as rate-hike week looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..9386fd7552ac4f165d2eee10f810c1537bc23dc0 --- /dev/null +++ b/news/AAPL/2023.01.30/Shares and bonds nervy as rate-hike week looms.txt @@ -0,0 +1,59 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Technology giants lead host of earnings results*Shares edge down after robust January rallyLONDON, Jan 30 (Reuters) - Stock markets worldwide +halted their January rally on Monday, pausing for breath at the +start of an agenda-setting week of central bank rate hikes and +data releases that will clarify if progress has been made in the +battle against inflation.Investors expect the Federal Reserve will raise rates by 25 +basis points on Wednesday, followed the day after by half-point +hikes from the Bank of England and European Central Bank, and +any deviation from that script would be a real shock.Europe's benchmark STOXX index fell 0.8% on Monday morning, +echoing a slight dip in MSCI's broadest index of Asia-Pacific +shares outside Japan, which has surged 11% in +January so far as China's reopening bolsters sentiment.The U.S. Nasdaq index is likewise on course for its best +January since 2001, a rally that will be tested by earnings +updates from tech giants this week.U.S. stocks were set to follow the nervous Monday mood +with S&P 500 futures down 1% and Nasdaq futures +falling 1.3%, as investors await guidance later in the week on +the Federal Reserve's policy.Analysts expect a hawkish tone suggesting that more needs to +be done to tame inflation."With U.S. labour markets still tight, core inflation +elevated and financial conditions easing, Fed Chair Powell's +tone will be hawkish, stressing that a downshifting to a 25bp +hike doesn't mean a pause is coming," said Bruce Kasman, chief +economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against +market pricing of rate cuts later this year."There is a lot of pushing to do given futures +currently expect rates to peak at 5% in March and to fall back +to 4.5% by year end.Europe offered a brisk reminder that the fight against +rising prices is far from over, as bond yields in the region +rose sharply on Monday in the wake of stronger-than-expected +Spanish inflation data.The data showing inflation rose 5.8% year-on-year in +January, against expectations of 4.7%, pushed up the zone's +benchmark German 10-year government bond yield 7 +basis points (bps) to 2.3190%, its highest since Jan. 10.Italian and Spanish yields also inched up.The dollar index was flat ahead of the week's key +data, on course for a fourth straight monthly loss of more than +1.5% on growing expectations that the Fed is nearing the end of +its rate-hike cycle.APPLE'S COREYields on 10-year notes have fallen 33 basis +points so far this month to 3.50%, essentially due to easing +financial conditions even as the Fed talks tough on tightening.That dovish outlook will also be tested by data on U.S. +payrolls, the employment cost index and various ISM surveys.Reading on EU inflation could be important for whether the +ECB signals a half-point rate rise for March, or opens the door +to a slowdown in the pace of tightening.As for Wall Street's recent rally, much will depend on +earnings from Apple Inc, Amazon.com, Alphabet +Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for +consumers globally and a snapshot of the China supply chain +issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe +iPhone 14 Pro demand is holding up firmer than expected," they +added. "Apple will likely cut some costs around the edges, but +we do not expect mass layoffs."Market pricing of early Fed easing has been a burden for the +dollar, which has lost 1.6% so far this month to stand at +101.85 against a basket of major currencies.The euro is up 1.5% for January at $1.0878 and +just off a nine-month top. The dollar has even lost 1.3% on the +yen to 129.27 despite the Bank of Japan's dogged +defence of its ultra-easy policies.The drop in the dollar and yields has been a boon for gold, +which is up 5.8% for the month so far at $1,930 an ounce.The precious metal was flat on Monday ahead of the slew of +key central bank moves and data releases.China's rapid reopening is seen as a windfall for +commodities in general, supporting everything from copper to +iron ore to oil prices.Oil steadied on Monday after earlier losses, with prices +bolstered by rising Middle East tension over a drone attack in +Iran and hopes of higher Chinese demand.Brent crude rose 10 cents, or 0.12%, to $86.76 a +barrel by 1200 GMT while U.S. West Texas Intermediate crude +added 4 cents, or 0.05%, to $79.72.(Reporting Lawrence White and Wayne Cole; Editing by +Christopher Cushing, Arun Koyyur and Christina Fincher) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Shares shaky as rate-hike week looms.txt b/news/AAPL/2023.01.30/Shares shaky as rate-hike week looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..22ed10e695987b5c81bbe002cfc11eebffe862fd --- /dev/null +++ b/news/AAPL/2023.01.30/Shares shaky as rate-hike week looms.txt @@ -0,0 +1,52 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Technology giants lead host of earnings results*Shares edge down after roaring January rallySYDNEY/LONDON, Jan 30 (Reuters) - Shares slipped on +Monday at the start of an agenda-setting week for markets in +which likely interest rate hikes in Europe and the United +States, as well as U.S. jobs and wage data will give markets a +fresh update on the battle against inflation.Investors expect the Federal Reserve will raise rates by 25 +basis points on Wednesday, followed the day after by half-point +hikes from the Bank of England and European Central Bank, and +any deviation from that script would be a real shock.Earnings from tech giants will also test the mettle of Wall +Street bulls, who are looking to propel the Nasdaq to its best +January since 2001.Europe's benchmark STOXX index fell 0.5% on Monday morning, +echoing a slight dip in MSCI's broadest index of Asia-Pacific +shares outside Japan, which has surged 11% in +January so far as China's reopening bolsters its economy.Meanwhile, U.S. stocks were set to follow the nervous +Monday mood with S&P 500 futures and Nasdaq futures +down nearly 1%, as investors await guidance later in the +week on the Federal Reserve's policy.Analysts expect a hawkish tone suggesting that more needs to +be done to tame inflation."With U.S. labour markets still tight, core inflation +elevated and financial conditions easing, Fed Chair Powell's +tone will be hawkish, stressing that a downshifting to a 25bp +hike doesn't mean a pause is coming," said Bruce Kasman, chief +economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against +market pricing of rate cuts later this year."There is a lot of pushing to do given futures +currently expect rates to peak at 5% in March, only to fall back +to 4.5% by year end.The dollar index was flat ahead of the data, on +course for a fourth straight monthly loss of more than 1.5% on +growing expectations that the Fed is nearing the end of its +rate-hike cycle.APPLE'S COREYields on 10-year notes have fallen 33 basis +points so far this month to 3.50%, essentially due to easing +financial conditions even as the Fed talks tough on tightening.That dovish outlook will also be tested by data on U.S. +payrolls, the employment cost index and various ISM surveys.Reading on EU inflation could be important for whether the +ECB signals a half-point rate rise for March, or opens the door +to a slowdown in the pace of tightening.As for Wall Street's recent rally, much will depend on +earnings from Apple Inc, Amazon.com, Alphabet +Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for +consumers globally and a snapshot of the China supply chain +issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe +iPhone 14 Pro demand is holding up firmer than expected," they +added. "Apple will likely cut some costs around the edges, but +we do not expect mass layoffs."Market pricing of early Fed easing has been a burden for the +dollar, which has lost 1.6% so far this month to stand at +101.790 against a basket of major currencies.The euro is up 1.5% for January at $1.0878 and +just off a nine-month top. The dollar has even lost 1.3% on the +yen to 129.27 despite the Bank of Japan's dogged +defence of its ultra-easy policies.The drop in the dollar and yields has been a boon for gold, +which is up 5.8% for the month so far at $1,930 an ounce.The precious metal was flat on Monday ahead of the slew of +key central bank moves and data releases.China's rapid reopening is seen as a windfall for +commodities in general, supporting everything from copper to +iron ore to oil prices.The oil market was hesitant amid concerns the likely Fed +rate hikes could choke fuel demand, with Brent down +nearly 1% $85.88 a barrel, while U.S. crude eased 87 +cents to $78.8.(Reporting by Wayne Cole and Lawrence White; Editing by +Christopher Cushing and Arun Koyyur) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Stocks dip, U.S. yields rise ahead of central bank flurry.txt b/news/AAPL/2023.01.30/Stocks dip, U.S. yields rise ahead of central bank flurry.txt new file mode 100644 index 0000000000000000000000000000000000000000..739ebd4dd620682774ba3b788fbd07fb3695060a --- /dev/null +++ b/news/AAPL/2023.01.30/Stocks dip, U.S. yields rise ahead of central bank flurry.txt @@ -0,0 +1,51 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Megacap stocks lead earnings results this week*MSCI index on track for biggest January pct gain since +2019NEW YORK, Jan 30 (Reuters) - A gauge of global stocks +dipped on Monday after six sessions of gains while the yield on +the U.S. ten-year Treasury rose for a third day, ahead of +central bank policy announcements and data that may shed light +on whether progress has been made in bringing down inflation.Investors widely expect the Federal Reserve will raise rates +by 25 basis points (bps) on Wednesday, with announcements on +Thursday from the Bank of England and European Central Bank +(ECB), both of which are largely expected to hike by 50 bps."This is probably a week where we are going to have a year’s +worth of surprises possibly, so it makes sense to me there is a +little bit of profit taking, some positioning ahead of some very +important meetings but also data releases," said Brian Jacobsen, +senior investment strategist at Allspring Global Investments in +Menomonee Falls, Wisconsin."(The Fed) would rather err on the side of sounding too +hawkish but talk is cheap - they are at the point now with the +hiking cycle where what really matters is what the data says and +what the Fed delivers."The Dow Jones Industrial Average fell 89.41 points, +or 0.26%, to 33,888.67, the S&P 500 lost 36.23 points, or +0.89%, to 4,034.33 and the Nasdaq Composite dropped +200.13 points, or 1.72%, to 11,421.58.The rate increase expected at the Federal Open Market +Committee's Jan. 31-Feb. 1 meeting would bring the policy rate +to the 4.5%-4.75% range. That's two quarter-point rate hikes +short of the level most Fed policymakers in December thought +would be "sufficiently restrictive" to bring inflation under +control. But futures currently expect rates to peak at +about 4.9% in June before retreating to 4.5% by year-end.Markets will also grapple with a host of U.S. economic data, +culminating in Friday's payrolls report for January. Investors +see signs of weakening in the labor market as a key factor in +bringing down high inflation. Other data included gauges of the +manufacturing and services sectors.The U.S. corporate earnings season also remains in high +gear, with earnings this week expected from the likes of Apple +, Alphabet and Amazon. Earnings for +S&P 500 companies are expected to show a decline of 3% for the +quarter, per Refinitiv data, weaker than the 1.6% fall seen at +the start of the year.Stocks in Europe were also lower, with rate-sensitive names +such as technology shares among the primary decliners.The pan-European STOXX 600 index lost 0.30% and +MSCI's gauge of stocks across the globe shed +0.68%. MSCI's index was on track for its biggest January +percentage gain since 2019 while the STOXX 600 was poised for +its largest January percentage gain since 2015.U.S. Treasury yields rose ahead of the central bank meetings +and economic data, with the 10-year yield up for a third +consecutive session. Benchmark 10-year notes were up +2.4 basis points to 3.542%, from 3.518% late on Friday.The greenback, which was poised for its fourth month of +declines as expectation have increased the Fed was nearing the +end of its rate-hiking cycle, was up slightly.The dollar index rose 0.098%, with the euro up +0.08% to $1.0876.The Japanese yen weakened 0.34% versus the greenback to +130.31 per dollar, while Sterling was last trading at +$1.2379, down 0.15% on the day.Crude prices fell ahead of the expected hikes by central +banks and signals of strong Russian exports.U.S. crude was down 1.13% at $78.78 per barrel and +Brent was at $85.75, down 1.05% on the day.(Reporting by Chuck Mikolajczak +Editing by Bernadette Baum) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Stocks fall, U.S. yields climb as central bank hikes awaited.txt b/news/AAPL/2023.01.30/Stocks fall, U.S. yields climb as central bank hikes awaited.txt new file mode 100644 index 0000000000000000000000000000000000000000..b3d60ba350d49becaf4045b083054e6f6f1e34fd --- /dev/null +++ b/news/AAPL/2023.01.30/Stocks fall, U.S. yields climb as central bank hikes awaited.txt @@ -0,0 +1,56 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Megacap stocks lead earnings results this week*MSCI index on track for biggest January pct gain since +2019NEW YORK, Jan 30 (Reuters) - A gauge of global stocks +retreated on Monday after six sessions of gains while U.S. +Treasury yields rose ahead of central bank policy announcements +and data that may shed light on whether progress has been made +in bringing down inflation.Investors widely expect the Federal Reserve will raise rates +by 25 basis points (bps) on Wednesday, with announcements on +Thursday from the Bank of England and European Central Bank +(ECB), both of which are largely expected to hike by 50 bps."The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market," said Keith Lerner, co-chief +investment officer at Truist Advisory Services in Atlanta, +Georgia.On Wall Street, U.S. stocks slumped, with 10 of the 11 S&P +sectors closing lower, while Johnson & Johnson lost +3.70% after a U.S. court rejected the company's plan to offload +into bankruptcy tens of thousands of lawsuits over its talc +products.The Dow Jones Industrial Average fell 260.99 points, +or 0.77%, to 33,717.09, the S&P 500 lost 52.79 points, or +1.30%, to 4,017.77 and the Nasdaq Composite dropped +227.90 points, or 1.96%, to 11,393.81.The rate increase expected at the Federal Open Market +Committee's Jan. 31-Feb. 1 meeting would bring the policy rate +to the 4.5%-4.75% range. That's two quarter-point rate hikes +short of the level most Fed policymakers in December thought +would be "sufficiently restrictive" to bring inflation under +control. But futures currently expect rates to peak at +about 4.9% in June before retreating to 4.5% by year-end.Markets will also grapple with a host of U.S. economic data, +culminating in Friday's payrolls report for January. Investors +see signs of weakening in the labor market as a key factor in +bringing down high inflation. Other data included gauges of the +manufacturing and services sectors.The U.S. corporate earnings season also rolls on, with +earnings this week expected from Apple, Alphabet +and Amazon. Earnings for S&P 500 companies +are expected to show a decline of 3% for the quarter, according +to Refinitiv data, weaker than the 1.6% fall seen at the start +of the year.Stocks in Europe closed lower, with rate-sensitive names +such as technology shares among the primary decliners after +inflation data from Spain came in above expectations while other +data showed the German economy unexpectedly contracted in the +fourth quarter.The pan-European STOXX 600 index lost 0.17% and +MSCI's gauge of stocks across the globe shed +0.99%. MSCI's index was on track for its biggest January +percentage gain since 2019 while the STOXX 600 was poised for +its largest January percentage gain since 2015.U.S. Treasury yields rose ahead of the central bank meetings +and economic data, with the 10-year yield up for a third +consecutive session. Benchmark 10-year notes were up +2.6 basis points to 3.544%, from 3.518% late on Friday.The greenback, which was poised for its fourth month of +declines as expectation have increased the Fed was nearing the +end of its rate-hiking cycle, was up for a third straight +session against a basket of major currencies.The dollar index rose 0.334%, with the euro +down 0.17% to $1.0848.The Japanese yen weakened 0.42% versus the greenback to +130.40 per dollar, while Sterling was last trading at +$1.2345, down 0.42% on the day.Crude prices fell ahead of the expected hikes by central +banks and signals of strong Russian exports.U.S. crude settled down 2.23% at $77.90 per barrel +and Brent settled at $84.90, down 2.03% on the day.(Reporting by Chuck Mikolajczak, additional reporting by Lewis +Krauskopf +Editing by Bernadette Baum and Deepa Babington) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Stocks fall, U.S. yields climb with central banks on tap.txt b/news/AAPL/2023.01.30/Stocks fall, U.S. yields climb with central banks on tap.txt new file mode 100644 index 0000000000000000000000000000000000000000..21f6f6d5488eea4be39d95e3b1a547c8f8eb88f6 --- /dev/null +++ b/news/AAPL/2023.01.30/Stocks fall, U.S. yields climb with central banks on tap.txt @@ -0,0 +1,54 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Megacap stocks lead earnings results this week*MSCI index on track for biggest January pct gain since +2019NEW YORK, Jan 30 (Reuters) - A gauge of global stocks +retreated on Monday after six sessions of gains while U.S. +Treasury yields rose ahead of central bank policy announcements +and data that may shed light on whether progress has been made +in bringing down inflation.Investors widely expect the Federal Reserve will raise rates +by 25 basis points (bps) on Wednesday, with announcements on +Thursday from the Bank of England and European Central Bank +(ECB), both of which are largely expected to hike by 50 bps."It would be pretty shocking for them to come out and do +anything other than 25 on Wednesday just because it has been +priced in there and they haven’t taken the opportunity to push +back on it," said Scott Ladner, chief investment officer at +Horizon Investments in Charlotte, North Carolina."It’s not necessarily in the Fed’s best interest to forecast +a pause or pivot at this stage – they still have an inflation +number that is too high, they still have an employment situation +they believe is too tight."The Dow Jones Industrial Average fell 189.88 points, +or 0.56%, to 33,788.2, the S&P 500 lost 43.59 points, or +1.07%, to 4,026.97 and the Nasdaq Composite dropped +193.19 points, or 1.66%, to 11,428.52.The rate increase expected at the Federal Open Market +Committee's Jan. 31-Feb. 1 meeting would bring the policy rate +to the 4.5%-4.75% range. That's two quarter-point rate hikes +short of the level most Fed policymakers in December thought +would be "sufficiently restrictive" to bring inflation under +control. But futures currently expect rates to peak at +about 4.9% in June before retreating to 4.5% by year-end.Markets will also grapple with a host of U.S. economic data, +culminating in Friday's payrolls report for January. Investors +see signs of weakening in the labor market as a key factor in +bringing down high inflation. Other data included gauges of the +manufacturing and services sectors.The U.S. corporate earnings season also continues to roll +on, with earnings this week expected from the likes of Apple +, Alphabet and Amazon. Earnings for +S&P 500 companies are expected to show a decline of 3% for the +quarter, per Refinitiv data, weaker than the 1.6% fall seen at +the start of the year.Stocks in Europe closed lower, with rate-sensitive names +such as technology shares among the primary decliners after +inflation data from Spain came in above expectations while other +data showed the German economy unexpectedly contracted in the +fourth quarter.The pan-European STOXX 600 index lost 0.17% and +MSCI's gauge of stocks across the globe shed +0.85%. MSCI's index was on track for its biggest January +percentage gain since 2019 while the STOXX 600 was poised for +its largest January percentage gain since 2015.U.S. Treasury yields rose ahead of the central bank meetings +and economic data, with the 10-year yield up for a third +consecutive session. Benchmark 10-year notes were up +2.6 basis points to 3.544%, from 3.518% late on Friday.The greenback, which was poised for its fourth month of +declines as expectation have increased the Fed was nearing the +end of its rate-hiking cycle, was up for a third straight +session against a basket of major currencies.The dollar index rose 0.402%, with the euro +down 0.25% to $1.084.The Japanese yen weakened 0.51% versus the greenback to +130.51 per dollar, while Sterling was last trading at +$1.2338, down 0.48% on the day.Crude prices fell ahead of the expected hikes by central +banks and signals of strong Russian exports.U.S. crude fell 2.16% to $77.96 per barrel and Brent +was at $84.86, down 2.08% on the day.(Reporting by Chuck Mikolajczak +Editing by Bernadette Baum) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Tech drags as big week for market kicks off.txt b/news/AAPL/2023.01.30/Tech drags as big week for market kicks off.txt new file mode 100644 index 0000000000000000000000000000000000000000..474e96e901784e33506b8f992ce089aa86aacec5 --- /dev/null +++ b/news/AAPL/2023.01.30/Tech drags as big week for market kicks off.txt @@ -0,0 +1 @@ +The Dow closed down more than three-quarters of a percent, the S&P slid 1.3% and the Nasdaq plunged almost 2%.Liz Miller, President and Founder of Summit Place Financial Advisors, says Monday's pullback comes after an unexpectedly strong start to the year."We're into the last couple days of the month and it's been a very surprising January. We've seen not just double-digit moves off of the bottom, we've seen some stocks moving 20, 30 percent in this month alone after the lows we saw in 2022. We felt at Summit Place that 2022 was overdone and that there was plenty of upside in this market, but we expect the market to pause here, and like many professional investors, we're actually getting prepared for a more difficult February potentially - and I think that's exactly what we're seeing in the market today."Shares of Apple, Amazon and Google parent Alphabet, which are due to post results later in the week, all slumped.Tesla dropped more than 6% after weeks of rallying. The stock came under presser after Ford announced price cuts Monday on its popular Mustang Mach-E electric SUV, weeks after Tesla slashed prices up to 20% on its vehicles.And shares of Johnson & Johnson dropped 3.7% after a federal appeals court rejected the healthcare giant's strategy to use bankruptcy to resolve multibillion-dollar lawsuits over claims its talc products cause cancer. \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Tech, megacaps drag Wall St down at start of big market week.txt b/news/AAPL/2023.01.30/Tech, megacaps drag Wall St down at start of big market week.txt new file mode 100644 index 0000000000000000000000000000000000000000..f2a3e6f20e695e456f2281e6dc64e40d3cd018ff --- /dev/null +++ b/news/AAPL/2023.01.30/Tech, megacaps drag Wall St down at start of big market week.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Alphabet, Amazon slide ahead of earnings*Fed decision on interest rates on Wednesday*J&J falls after U.S. court rejects talc-lawsuit strategy(Adds close of U.S. market, analyst comment)NEW YORK, Jan 30 (Reuters) - Major U.S. stock indexes +sank on Monday, weighed down by declines in technology and other +megacap shares, as investors looked toward a major week of +events including central bank meetings and a slew of earnings +reports.The heavyweight tech sector was among the biggest +S&P 500 sector decliners on the day. Shares of Apple Inc +, Amazon.com Inc and Google parent Alphabet Inc +, which are due to post results later this week, all +slumped.More than 100 S&P 500 companies are expected to report +results this week, which also includes central bank meetings in +the United States and Europe and closely watched U.S. employment +data.“The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market,” said Keith Lerner, co-chief +investment officer at Truist Advisory Services.According to preliminary data, the S&P 500 lost 52.38 +points, or 1.29%, to end at 4,018.18 points, while the Nasdaq +Composite lost 227.89 points, or 1.96%, to 11,393.81. +The Dow Jones Industrial Average fell 254.47 points, or +0.75%, to 33,723.61.Despite Monday's declines, the S&P 500 was on track to post +its biggest January gain since 2019.The U.S. central bank is seen hiking the Fed funds rate by +25 basis points at the end of its two-day policy meeting on +Wednesday, following a 2022 in which the Fed aggressively +boosted rates to control soaring inflation.Fed Chair Jerome Powell's news conference will be +scrutinized for whether the rate-hiking cycle may be coming to a +close and for signs of how rates could stay elevated.“It’s probably one of the most important meetings since the +whole thing began," said Sameer Samana, senior global market +strategist at Wells Fargo Investment Institute. "Unless the Fed +extends that timeline meaningfully from what the market expects, +which is that the Fed will be done in the next meeting or two, +this may end up marking the pause, so to speak.”Meanwhile, the European Central Bank is expected to deliver +another large rate hike on Thursday.Investors are also focused on earnings reports, amid +concerns the economy may be facing a recession. With more than +140 companies having reported so far, S&P 500 earnings are +expected to have fallen 3% in the fourth quarter compared with +the prior-year period, according to Refinitiv IBES.In company news, shares of Johnson & Johnson fell +after the healthcare giant's strategy to use bankruptcy to +resolve the multibillion-dollar litigation over claims its talc +products cause cancer was rejected by a federal appeals court. +(Reporting by Lewis Krauskopf in New York, and Shreyashi Sanyal +and Johann M Cherian in Bengaluru +Editing by Anil D'Silva and Matthew Lewis) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Tech, megacaps drag Wall St lower at start of big market week.txt b/news/AAPL/2023.01.30/Tech, megacaps drag Wall St lower at start of big market week.txt new file mode 100644 index 0000000000000000000000000000000000000000..1be0175b600c34caf949c962f5e1b00979b2a70f --- /dev/null +++ b/news/AAPL/2023.01.30/Tech, megacaps drag Wall St lower at start of big market week.txt @@ -0,0 +1,40 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Alphabet, Amazon slide ahead of earnings*Fed decision on interest rates on Wednesday*J&J falls after U.S. court rejects talc-lawsuit strategy*Indexes down: Dow 0.37%, S&P 500 0.95%, Nasdaq 1.59%(Recasts with midafternoon trading)NEW YORK, Jan 30 (Reuters) - Major U.S. stock indexes +fell on Monday, dragged lower by declines in technology and +other megacap shares, as investors looked toward a major week of +events including central bank meetings and a slew of earnings +reports.The tech sector slumped 1.7%, with most sectors +trading lower. Shares of Apple Inc, Amazon.com Inc +and Google parent Alphabet Inc, which are all +due to post results later this week, dropped over 1%.More than 100 S&P 500 companies are expected to report +results this week, which also includes central bank meetings in +the United States and Europe and closely watched U.S. employment +data.“The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market,” said Keith Lerner, co-chief +investment officer at Truist Advisory Services.The Dow Jones Industrial Average fell 125.11 points, +or 0.37%, to 33,852.97, the S&P 500 lost 38.49 points, or +0.95%, to 4,032.07 and the Nasdaq Composite dropped +184.56 points, or 1.59%, to 11,437.15.U.S. Treasury yields rose, providing another pressure point +for tech shares that have otherwise rebounded to start the year +after a rough 2022.Despite Monday's declines, the S&P 500 was on track to post +its biggest January gain since 2019.The U.S. central bank is seen hiking the Fed funds rate by +25 basis points at the end of its two-day policy meeting on +Wednesday, following a 2022 in which the Fed aggressively hiked +rates to control soaring inflation.Fed Chair Jerome Powell's news conference will be +scrutinized for signs of how high rates may go and how long they +could stay elevated. Meanwhile, the European Central Bank is +expected to deliver another large rate hike on Thursday.Investors are also focused on earnings reports, amid +concerns the economy may be facing a recession. With more than +140 companies having reported so far, S&P 500 earnings are +expected to have fallen 3% in the fourth quarter compared with +the prior-year period, according to Refinitiv IBES.In company news, shares of Johnson & Johnson fell +over 3% after the healthcare giant's strategy to use bankruptcy +to resolve the multibillion-dollar litigation over claims its +talc products cause cancer was rejected by a federal appeals +court.Declining issues outnumbered advancing ones on the NYSE by a +1.81-to-1 ratio; on Nasdaq, a 1.73-to-1 ratio favored decliners.The S&P 500 posted five new 52-week highs and no new lows; +the Nasdaq Composite recorded 51 new highs and 14 new lows. +(Reporting by Lewis Krauskopf in New York, and Shreyashi Sanyal +and Johann M Cherian in Bengaluru +Editing by Anil D'Silva and Matthew Lewis) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Tech, megacaps drag Wall St to lower close as big market week kicks off.txt b/news/AAPL/2023.01.30/Tech, megacaps drag Wall St to lower close as big market week kicks off.txt new file mode 100644 index 0000000000000000000000000000000000000000..c0b4c908ea6ef1fc20ce1bec65322033961c1340 --- /dev/null +++ b/news/AAPL/2023.01.30/Tech, megacaps drag Wall St to lower close as big market week kicks off.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Alphabet, Amazon slide ahead of earnings*Fed decision on interest rates on Wednesday*J&J falls after U.S. court rejects talc-lawsuit strategy*Indexes down: Dow 0.77%, S&P 500 1.3%, Nasdaq 1.96%(Adds market details after close of trading)NEW YORK, Jan 30 (Reuters) - Major U.S. stock indexes +sank on Monday, weighed down by declines in technology and other +megacap shares, as investors looked toward a major week of +events including central bank meetings and a slew of earnings +reports.The heavyweight tech sector dropped 1.9% while +energy shed 2.3%, the biggest drop among the S&P 500 +sectors. Shares of Apple Inc, Amazon.com Inc +and Google parent Alphabet Inc, which are due to post +results later this week, all slumped.More than 100 S&P 500 companies are expected to report +results this week, which also includes central bank meetings in +the United States and Europe and closely watched U.S. employment +data.“The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market,” said Keith Lerner, co-chief +investment officer at Truist Advisory Services.The Dow Jones Industrial Average fell 260.99 points, +or 0.77%, to 33,717.09, the S&P 500 lost 52.79 points, or +1.30%, to 4,017.77 and the Nasdaq Composite dropped +227.90 points, or 1.96%, to 11,393.81.U.S. Treasury yields rose, providing another +pressure point for tech shares that have otherwise rebounded to +start the year after a rough 2022.Despite Monday's declines, the S&P 500 remained on track to +post its biggest January gain since 2019.The U.S. central bank is seen hiking the Fed funds rate by +25 basis points at the end of its two-day policy meeting on +Wednesday, following a 2022 in which the Fed aggressively +boosted rates to control soaring inflation.Fed Chair Jerome Powell's news conference will be +scrutinized for whether the rate-hiking cycle may be coming to a +close and for signs of how long rates could stay elevated.“It’s probably one of the most important meetings since the +whole thing began," said Sameer Samana, senior global market +strategist at Wells Fargo Investment Institute. "Unless the Fed +extends that timeline meaningfully from what the market expects, +which is that the Fed will be done in the next meeting or two, +this may end up marking the pause, so to speak.”Meanwhile, the European Central Bank is expected to deliver +another large rate hike on Thursday.Investors are also focused on earnings reports, amid +concerns the economy may be facing a recession. With more than +140 companies having reported so far, S&P 500 earnings are +expected to have fallen 3% in the fourth quarter compared with +the prior-year period, according to Refinitiv IBES.In company news, shares of Johnson & Johnson fell +3.7% after the healthcare giant's strategy to use bankruptcy to +resolve the multibillion-dollar litigation over claims its talc +products cause cancer was rejected by a federal appeals court.Declining issues outnumbered advancing ones on the NYSE by a +2.40-to-1 ratio; on Nasdaq, a 2.08-to-1 ratio favored decliners.The S&P 500 posted 5 new 52-week highs and no new lows; the +Nasdaq Composite recorded 67 new highs and 20 new lows.About 10.6 billion shares changed hands in U.S. exchanges, +compared with the 11.2 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, and Shreyashi Sanyal +and Johann M Cherian in Bengaluru +Editing by Anil D'Silva and Matthew Lewis) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/UK video streaming market shows signs of recovery in last quarter of 2022.txt b/news/AAPL/2023.01.30/UK video streaming market shows signs of recovery in last quarter of 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..d8f287f4d2f90060cd1189a5bc3d97ee1ab8290a --- /dev/null +++ b/news/AAPL/2023.01.30/UK video streaming market shows signs of recovery in last quarter of 2022.txt @@ -0,0 +1 @@ +Market researcher Kantar said that between October and December the number of UK homes that had at least one paid-for video streaming service rose by 55,000 to 16.24 million, representing 56% of households.The gains were driven mainly by Prime Video, AppleTV+ and Paramount+, rather than Netflix.Kantar said 5% of British households took out a new streaming subscription during the final quarter of the year.The recovery followed a period of 12 months when one million British households dropped out of the subscription video-on-demand market, as they prioritised spending on essentials, such as food and energy."Prime Video had a strong final quarter of the year, with an increasing number of households taking out Prime memberships and using the Prime delivery service in the run-up to the Christmas holidays," Dominic Sunnebo, global insight director, Kantar, Worldpanel Division, said.However, the recovery may be short lived, Kantar added.The proportion of consumers planning to cancel one or more video-on-demand services in the next quarter rose to 12% versus 10% in the third quarter of 2022, it said, indicating that short-term subscribers looking to cover the festive period could soon cut back.Getting an accurate gauge of the UK economy is currently proving tricky.Official UK retail sales data showed inflation-pinched consumers cut their shopping by the most in the key month of December in at least 25 years and consumer confidence levels are at historic lows.However, several major British retailers, including Tesco, Sainsbury's and Marks & Spencer, reported better-than-expected Christmas sales, while airlines have reported strong bookings into summer.Also, unemployment is close to its lowest in almost 50 years. (Reporting by James Davey; editing by Clelia Oziel) \ No newline at end of file diff --git a/news/AAPL/2023.01.30/Wall Street set to open lower ahead of Fed rate decision.txt b/news/AAPL/2023.01.30/Wall Street set to open lower ahead of Fed rate decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..3157f4f0cd064fef67e00d2984ec4b5e53c67d58 --- /dev/null +++ b/news/AAPL/2023.01.30/Wall Street set to open lower ahead of Fed rate decision.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Megacap growth stocks lead declines*Fed decision on interest rates on Wednesday*Futures down: Nasdaq 1.13%, S&P 0.80%, Dow 0.46%Jan 30 (Reuters) - Wall Street was set to open lower on +Monday, with the tech-focused Nasdaq futures dropping more than +1%, at the start of the busiest week of the earnings season and +ahead of key central bank meetings.The U.S. Federal Reserve is seen hiking the Fed funds rate +by 25 basis points (bps) at the end of its two-day policy +meeting on Wednesday, close on the heels of economic reports +showing signs of slowing demand and cooling inflation.This will likely be the smallest rate increase since the Fed +kicked off its tightening cycle 10 months ago with a 25 bps +hike, with financial markets pricing in a final rate hike in +March."The Fed's going to continue to err on the side of caution +with respect to inflation because of the fact that it still +remains well above the 2% target ... we're seeing signs that +inflation may be coming down, but it's still not low enough," +said Adam Sarhan, chief executive of 50 Park Investments in New +York.Money markets now see rates peaking at 4.9% in June, still +below the 5% level expected by Fed policymakers.After a slew of layoffs by large-cap tech and financial +firms through the month, investors will now watch out for the +Labor Department's January nonfarm payrolls data expected on +Friday.A total of 107 S&P 500 firms are expected to report +quarterly earnings this week including heavyweight growth +companies Apple Inc, Amazon.com Inc, Alphabet +Inc and Meta Platforms Inc, all down about 1% +each in premarket trading.Analysts expect S&P 500 earnings during the fourth-quarter +to decline 2.9%, compared with the 1.6% drop expected at the +beginning of the year, according to Refinitiv data as of Friday.Data reflecting cooling inflation and a slowing economy has +raised hopes among investors that the Fed might steer away from +its hawkish rhetoric, stoking interest in growth stocks this +month, with the S&P 500 Growth index recouping more than +half its monthly losses from December.Tighter monetary policies have stood in the way of business +expansion of growth firms, which have also been pressured for +much of last year by high Treasury yields.Wall Street is expected to end the month higher with the +tech-inclined Nasdaq and the benchmark S&P 500 +recovering December losses."The month of January was a big 'up-month' on Wall Street, +led mostly by many of the big stocks that got crushed last +year," Sarhan added, noting that the decline in growth stocks on +Monday could be due to some profit-taking.At 8:48 a.m. ET, Dow e-minis were down 157 points, +or 0.46%, S&P 500 e-minis were down 32.5 points, or +0.8%, and Nasdaq 100 e-minis were down 138 points, or +1.13%.Other major central banks including the European Central +Bank and the Bank of England are also seen raising interest +rates later in the week. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AAPL/2023.01.31/AMD forecasts first-quarter revenue below expectations.txt b/news/AAPL/2023.01.31/AMD forecasts first-quarter revenue below expectations.txt new file mode 100644 index 0000000000000000000000000000000000000000..13295ed32b59c24701818c3a80227d46935a6553 --- /dev/null +++ b/news/AAPL/2023.01.31/AMD forecasts first-quarter revenue below expectations.txt @@ -0,0 +1 @@ +The company forecast current-quarter revenue of $5.3 billion, plus or minus $300 million. Analysts on average expected revenue of $5.48 billion, according to Refinitiv data. (Reporting by Chavi Mehta in Bengaluru; Editing by Anil D'Silva) \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Apple workplace rules violate U.S. labor law, agency finds.txt b/news/AAPL/2023.01.31/Apple workplace rules violate U.S. labor law, agency finds.txt new file mode 100644 index 0000000000000000000000000000000000000000..236d7556cfe133d8d499c73afb0fb66d578d3418 --- /dev/null +++ b/news/AAPL/2023.01.31/Apple workplace rules violate U.S. labor law, agency finds.txt @@ -0,0 +1 @@ +The National Labor Relations Board will issue a complaint targeting the policies and claiming Apple executives made comments that stymied worker organizing unless the company settles first, an agency official said on Monday in an email reviewed by Reuters. The official had sent the email to Ashley Gjovik, a former Apple senior engineering manager who filed complaints against the company in 2021. The NLRB investigates charges filed by workers and unions and decides whether to issue formal complaints against companies. The agency can seek to strike down workplace policies and require employers to notify workers of legal violations. Apple did not respond to a request for comment. The company has said it takes worker complaints seriously and thoroughly investigates them.An NLRB spokeswoman did not immediately respond to a request for comment. Gjovik in an email on Tuesday said she hoped the development will spur more Apple workers to speak up about working conditions and to organize. In her complaints, Gjovik said various Apple rules, including those relating to confidentiality and surveillance policies, deter employees from discussing issues such as pay equity and sex discrimination with each other and the media.Gjovik also cited a 2021 email from Apple Chief Executive Tim Cook that allegedly sought to stop workers from speaking to the press and said "people who leak confidential information do not belong here." Many tech companies have strict confidentiality policies designed to protect trade secrets. U.S. labor law prohibits policies that could discourage workers from exercising their right to band together to improve working conditions. Apple is facing several pending NLRB complaints, including one claiming the tech giant unlawfully required workers at an Atlanta retail store to attend anti-union meetings. Apple has denied wrongdoing. (Reporting by Daniel Wiessner in Albany, New York; Editing by Alexia Garamfalvi and Bernadette Baum)By Daniel Wiessner \ No newline at end of file diff --git "a/news/AAPL/2023.01.31/Apple's Parts Pairing Policy \342\200\223 What Does This Mean For The Third Party Repair Mar...txt" "b/news/AAPL/2023.01.31/Apple's Parts Pairing Policy \342\200\223 What Does This Mean For The Third Party Repair Mar...txt" new file mode 100644 index 0000000000000000000000000000000000000000..3b739ae43a1ce4cb7b16811de58c34309a51b869 --- /dev/null +++ "b/news/AAPL/2023.01.31/Apple's Parts Pairing Policy \342\200\223 What Does This Mean For The Third Party Repair Mar...txt" @@ -0,0 +1,12 @@ +With the release of the iPhone 14 last year came many plaudits for Apple, mainly for making the phone itself more 'repairable' than its predecessors. While repair to the devices had become more straightforward, increased complexities about who could make such repairs also arose.The main issue is centred on the repair of a broken or malfunctioning iPhone 14 'Always-On Display' (AOD), which uses the phone's two ambient light sensors to calibrate display brightness.  In order to conserve battery life, when at night or when the phone is in your pocket, the display will shut down, leveraging the phone's automatic brightness capabilities. If the display of an iPhone 14 breaks, and an Apple-authorised service centre is not used to replace it however, the ambient light sensors shuts down, leaving the screen permanently black unless you can remember the position of the slider, leaving the brightness of the phone to only be adjusted manually.The cause of this failure is Apple's policy of 'Parts Pairing', tying individual components to the phones that carry them. A component such as the screen of an iPhone 14 will have a unique ID logged in its hardware that the iPhone checks for whenever it is started. As far as the phone is concerned, it will only work properly if it has its 'own' display attached. If the device's own display is not detected, it won't work. Users will instead see error messages urging them to go to their local Apple support technician. These messages do not ultimately persist, but the device will be permanently marked as hosting unauthorised components.The only way to prevent this is for an Apple-authorised technician to manually sanction the pairing of a new component with your device with an in-house software tool; a process that requires a technician connecting to Apple's private network over the internet, for which access has to be granted by the company themselves.The result of this is that repair stores outside of Apple's own network will soon be left unable to make repairs on any new iPhones. The costs of joining Apple's network of authorised technicians and having access to pair new components with existing phones, however, are high enough to cause many businesses to have had second thoughts about doing so.Apple has long been resistant to the idea that consumers should be able to fix their own products, with them previously withholding repairing manuals and spare parts from third party technicians, in spite of the numbers of iPhones that require basic repairs.Now though, Apple state that a position of compromise has been reached, with them allowing third party technicians to repair certain Apple products if they become verified service providers. Additionally, individuals can fix their own devices as part of the self-service repair programme, where Apple would make tools parts and manuals available to users (if you had the ability to take delivery of approx. 35kg of the required tools, and paid the approx. £1000 deposit to ensure the tools are returned in seven days).Therefore, the issue remains – is it fair to own a product, but still have the manufacturer control the repairs and functionality of it?Both in Europe and the US, there is a strong push for 'Right to Repair' legislation to be introduced, allowing consumers to choose how and where they repair their owned devices. Further promising news for those backing the 'Right to Repair' movement, the US Federal Trade Commission has also recently enforced similar legislation that sees manufacturers from using warranty provisions to prevent owners seeking independent repair for their products; with the EU also looking to lay down robust right to repair provisions with the Ecodesign provisions, ensuring devices sold are more repairable, and having a specific focus on repair operations by end users.While strategies like this from Apple may ensure they maximise the value of their IP, such actions may ultimately serve to accelerate governments into taking action, such as with the Right to Repair initiative in the US, and Ecodesign directive currently in its infancy with the EU; with any such initiatives also potentially having an impact on patent infringement law around the world.    While strategies like this from Apple may ensure they maximise the value of their IP, such actions may ultimately serve to accelerate governments into taking action, such as with the Right to Repair initiative in the US, and Ecodesign directive currently in its infancy with the EU; with any such initiatives also potentially having an impact on patent infringement law around the world.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Samuel Mailer +Marks & Clerk +15 Fetter Lane +London +EC4A 1BW +UK +Tel: 2074200000 +Fax: 207836339 +E-mail: nbutson@marks-clerk.com +URL: www.marks-clerk.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Asian stocks edge down as investors eye central bank hikes.txt b/news/AAPL/2023.01.31/Asian stocks edge down as investors eye central bank hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..f50d0cc35067940de02ab4703c8234cc0a19b03a --- /dev/null +++ b/news/AAPL/2023.01.31/Asian stocks edge down as investors eye central bank hikes.txt @@ -0,0 +1,57 @@ +Jan 31 (Reuters) - Asian shares edged down and bonds +nursed small losses on Tuesday as investors braced for an +eventful week that will include central bank meetings, a slew of +earnings reports and key U.S. economic data.Investors broadly expect the U.S. Federal Reserve to raise +interest rates by 25 basis points (bps) on Wednesday. Interest +rate announcements are due on Thursday from both the Bank of +England and the European Central Bank - and both are expected to +hike rates by 50 bps.Meanwhile, more than 100 S&P 500 companies, including Apple +, Amazon.com and Google parent Alphabet +, are expected to report results this week, which also +will see the publication of closely watched U.S. employment +numbers."It's a big week for both central banks and U.S. equities, +with ... some of the household names due to make earnings +announcements that will provide a micro overview of the macro +economy," ANZ analysts said in a note."We expect a 25 bps (U.S.) rate rise and anticipate that the +Fed will caution against an early pause in the tightening cycle +.... Risk appetite could be vulnerable to a correction."European markets were set for a lower open, with pan-region +Euro Stoxx 50 futures down 0.48%, German DAX futures +falling 0.47% and FTSE futures dropping 0.29%. +U.S. stock futures, the S&P 500 e-minis, were down 0.06%.In Asia, MSCI's broadest index of Asia-Pacific shares +outside Japan was 1.1% lower. The index is up +9.9% so far this month and is on course for its best January +performance since 2012.Japan's Nikkei stock index slid 0.23% while +Australian shares were down 0.15%.China's economic activity swung back to growth in +January, after a wave of COVID-19 infections passed through the +country faster than expected following abandonment of pandemic +controls. The official purchasing managers' index, which +measures manufacturing activity, rose to 50.1 from 47.0 in +December.Investors remained cautious, however, looking for more +signs of recovery in the pandemic-hit economy. China's blue-chip +CSI300 index was down 1% in afternoon trade after +reaching a half-year high on Monday.While Hong Kong's Hang Seng index dropped 1.23% +on Tuesday, it was still set to post its best January +performance since 1989.On Monday, U.S. stocks lost ground, with the major indexes +sinking, weighed down by declines in technology and other giant +corporations' shares.The Dow Jones Industrial Average fell 0.8% to +33,717.09, the S&P 500 lost 1.3% to 4,017.77 and the +Nasdaq Composite dropped 2.0% to 11,393.81.Despite Monday's declines, the S&P 500 remained on track to +post its biggest January gain since 2019.At the end of the Fed's two-day policy meeting on Wednesday, +investors will be glued to Chair Jerome Powell's news conference +for clues on whether the rate-hiking cycle may be coming to a +close, and for signs of how long rates could stay elevated.Markets will also grapple with a flood of U.S. economic +data, culminating in Friday's payrolls report for January. +Investors see signs of weakening in the labour market as a key +factor in bringing down high inflation.U.S. Treasury yields remained firm ahead of the central bank +meetings and economic data, with the yield on benchmark 10-year +Treasury notes US10YT=RR standing at 3.5457% compared with its +U.S. close of 3.551% on Monday.The two-year yield, which rises with traders' +expectations of higher Fed fund rates, touched 4.2424% compared +with a U.S. close of 4.261%.In currencies, the U.S. dollar, which was poised for its +fourth month of declines, was slightly up at 102.29 against a +basket of other major currencies.The European single currency was largely unchanged on +the day at $1.0841, having gained 1.3% in a month.In the energy market, oil prices fell ahead of the expected +hikes by central banks and signals of strong Russian exports.U.S. crude dipped 0.44% to $77.56 a barrel. Brent +crude fell to $84.85 per barrel.Gold was slightly lower. Spot gold was traded at +$1920.84 per ounce.(Additional reporting by Ankur Banerjee; Editing by Kenneth +Maxwell and B) \ No newline at end of file diff --git a/news/AAPL/2023.01.31/EU studying whether Big Tech should pay network costs -EU document.txt b/news/AAPL/2023.01.31/EU studying whether Big Tech should pay network costs -EU document.txt new file mode 100644 index 0000000000000000000000000000000000000000..6131a64c7a1f8462303ea172fbe3a01e9bbb5e72 --- /dev/null +++ b/news/AAPL/2023.01.31/EU studying whether Big Tech should pay network costs -EU document.txt @@ -0,0 +1 @@ +EU telecoms providers including Deutsche Telekom, Orange, Telefonica and Telecom Italia say the six largest content providers account for more than half of data internet traffic and should contribute their fair share. The providers also point to Netflix Inc, Apple Inc and Microsoft Corp.The tech giants say the idea is equivalent to an internet traffic tax that could interfere with Europe's net neutrality rules treating all users equally.The commission's query is part of a 19-page document the EU executive drafted before it proposes legislation.The EU executive is expected to publish the document next week to garner feedback from telecoms operators and Big Tech, although the timing may change. The next step is an agreement with EU countries and lawmakers to finalise the legislation."Some stakeholders have suggested a mandatory mechanism of direct payments from CAPs (content application providers)/LTGs (large traffic generator) to contribute to finance network deployment. Do you support such suggestion and if so why? If no, why not?" the questionnaire asked.The questionnaire also asks who the mechanism should apply t; whether it would negatively impact innovation, the internet ecosystem and consumers; and whether the EU should create a continental or digital levy or fund.The EU will also query Big Tech and telecoms providers' investment spending and future developments, confirming a Reuters story this month."The Commission's questionnaire is basically asking questions that seek to justify the 'fair share' narrative pushed by big telcos. What is more, it seems to ignore the impact on consumers and fundamental net neutrality protections," an industry source said."The Commission is also asking for detailed business information, such as peering contracts, that is usually confidential. This effectively excludes key stakeholders from taking part. (Reporting by Foo Yun Chee; Editing by Josie Kao)By Foo Yun Chee \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Europe's luxury stocks have room to rise, but becoming costly.txt b/news/AAPL/2023.01.31/Europe's luxury stocks have room to rise, but becoming costly.txt new file mode 100644 index 0000000000000000000000000000000000000000..a6200ada37bfbcc202184a5790dbc76ceb89558b --- /dev/null +++ b/news/AAPL/2023.01.31/Europe's luxury stocks have room to rise, but becoming costly.txt @@ -0,0 +1 @@ +The likes of French luxury giant and Louis Vuitton-owner LVMH, and Swiss jewelry company Richemont, have benefited from the resilience of their wealthy customers against the cost-of-living crisis. Since the start of 2023, China's decision to allow more normal activity and dismantle its strict COVID-19 restrictions has provided another boost for the sector.An index of European luxury goods retailers has rallied around 18% so far this year, outperforming the wider pan-European STOXX 600, which is up 6.2% in the same time frame. But the fact that luxury goods companies are not as cheap as they once were is a "concern/point of attention", said Kasper Elmgreen, Head of Equities at Amundi, Europe's largest asset manager. "They're much more fairly valued today, there is less that is perhaps undiscovered. The risk is that when something moves to being priced to perfection there is always a higher risk of disappointment."The price-to-earnings ratio of the MSCI Europe luxury index is around 26, while that of the broader STOXX is closer to 13, according to Refinitiv data.Ahead of the index https://www.reuters.com/graphics/EUROPE-STOCKS/LUXURYGOODS/zjvqjezxwpx/chart.pngEuropean luxury has historically traded at a big premium relative to the broader market, but this has widened even further in recent years. At 23 times 12-month forward earnings, its current premium of 82% is almost twice as much as the 20-year average, according to Refintiv Datastream.Luxury premium https://fingfx.thomsonreuters.com/gfx/mkt/dwpkdaxzmvm/Luxury%20premium.JPGTHE APPLE OF EUROPE'S EYELVMH, Europe's most valuable company by market capitalisation, has a PE ratio of around 30, while rival Hermes has a valuation of almost 60, according to Refinitiv data. Apple, the world's most valuable company, commands a PE ratio of around 23. Jelena Sokolova, senior equity analyst at Morningstar, said that China reopening is the key issue for European luxury stocks this year, and is already at least 50% priced in."Currently we don't see this sector as undervalued anymore ... there were some opportunities last year, but they are fairly valued now, or a little too overvalued at the moment," she said.LVMH vs Apple https://fingfx.thomsonreuters.com/gfx/mkt/zdvxdrmqovx/LVMH%20vs%20Apple.JPG In a January research note, UBS analysts said 2023 was "the year of the Chinese consumer for European luxury", and highlighted Richemont, Hermes and Italian luxury group Moncler as their top picks and "the most balanced, high-quality plays on China re-opening".Ongoing concerns of recession, an expected fall in earnings expectations, and sky-high inflation mean the potential returns on luxury stocks could be a boon in what promises to be a difficult year for stock-pickers.The ability to increase the price of products without losing customers has stood out as a key strength of Europe's luxury brands, and remains in focus for equity investors even as inflation on the continent eased in December. "The things they sell don't really depend on the price that they charge, with the average price of a product at Cartier of $10,000 whether it increases to $11,000 is neither here nor there," said Nick Clay, head of global equity income at investment manager Redwheel.These shares have more room to run higher as Chinese consumers hit the shops again and luxury companies flex their pricing power. But with valuations already fairly lofty, investors question how much higher they can go.LVMH's most recent earnings showed a 9% rise in organic sales in the fourth quarter as shoppers in Europe and the United States splurged over the holiday season, helping partly to offset COVID-19 disruptions in China.But some analysts focused on the margins, taking some of the shine off the fourth-quarter sales boost. That said, it had little impact on the share price, which has risen by 600% in the last 10 years, compared with a 91% gain in the benchmark STOXX."Companies like LVMH have high quality businesses, they compound profits over long periods of time and deliver great returns for shareholders," said Mark Denham, head of European equities at French asset manager Carmignac."It is true that the ratings of these companies have risen so it becomes slightly more asymmetric, but over the long term earnings compounding is the dominant factor." (Reporting by Lucy Raitano and Danilo Masoni; Editing by Amanda Cooper and Sharon Singleton)By Lucy Raitano \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Factbox-Chinese chipmakers caught in U.S.-China tech spat.txt b/news/AAPL/2023.01.31/Factbox-Chinese chipmakers caught in U.S.-China tech spat.txt new file mode 100644 index 0000000000000000000000000000000000000000..f0fcceb832eefd6af0e67f30e333516517fa7e4e --- /dev/null +++ b/news/AAPL/2023.01.31/Factbox-Chinese chipmakers caught in U.S.-China tech spat.txt @@ -0,0 +1 @@ +While Beijing has ploughed vast sums of money into cultivating a domestic chip industry, its fabrication plants, known as fabs, still heavily rely on foreign-made equipment that they use to turn slabs of silicon into chips that power hardware.Below are the Chinese fabs that are bearing the biggest brunt of Washington's curbs:SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORP (SMIC)SMIC, China's largest fab, makes chips that go into a range of products for the automotive sector, internet-of-things devices and some smartphones.Founded in 2000 with backing from the Shanghai government, the firm stands as China's would-be rival to Taiwan Semiconductor Manufacturing Co Ltd (TSMC), though it is dwarfed in technology and income. TSMC is the world's most valuable chipmaker and counts Apple Inc and Nvidia Corp among major clients. Its government-backing and ambition to make high-end chips caught the attention of the United States which put the firm on its Entity List in 2020. The placement effectively barred Dutch firm ASML Holding AS from providing critical Extreme Ultraviolet lithography machines to SMIC, scuttling that ambition.To date, most of SMIC's sales are made using the outdated 45 nanometer process node and above. Since late 2020, this specialisation in older chips has proven a boon due to a global shortage of lower-end chips. Still, its global market share in the pure-play foundry sector remains in the single digits, and its sales and research-and-development expenditure remain well below those of TSMC.The company shocked the industry in 2022 when researchers discovered it had produced a chip that appeared to share qualities with TSMC's 7 nanometer process node technology, even without ASML equipment.Experts disputed the long-term viability of its breakthrough. SMIC has not responded to the findings.HUA HONG SEMICONDUCTOR LTDHua Hong Semiconductor Ltd is China's second-largest fab. It was founded in 1996 and specialises in making mature-node technology, generating most of its revenue from chips made at the 55 nanometer process node and above. The firm has devoted fewer resources to producing advanced nodes than SMIC. It plans to conduct an additional public offering in 2023, and aims to build a new fab in the eastern city of Wuxi.YANGTZE MEMORY TECHNOLOGIES CO LTD (YMTC)YMTC is China's only player in the global NAND memory market - an ultra-competitive sector long dominated by a handful of firms from the United States and Korea. It designs and makes chips and was added to the U.S. Entity List last year.While YMTC's market share of the overall sector is small, experts said it has steadily entered the Chinese supply chain and that its products have become more competitive on price and quality.It unveiled a chip last year with 232 layers of memory cells, placing the firm closer to rivals such as South Korea's Samsung Electronics Co Ltd. Experts said equipment export restrictions are likely to derail further efforts.YMTC was founded in 2016 with backing from the Wuhan government and China National Integrated Circuit Industry Investment Fund, and originally operated under chip conglomerate Tsinghua Unigroup. It was later spun out as its parent company restructured while facing bankruptcy.CHANGXIN MEMORY TECHNOLOGIES (CXMT)CXMT is China's only major player designing and making DRAM chips, which like NAND memory, is a sector long dominated by a handful of legacy companies in the United States, South Korea and Taiwan.It has one fab in operation and is building two others. It produces DRAM at the 19 nanometer node and is moving into the 17 nanometer node - process nodes behind the industry leading-edge.Researcher Trendforce wrote that the impact from equipment export restrictions imposed since October might affect expansion plans. (Reporting by Josh Horwitz; Editing by Brenda Goh and Christopher Cushing)By Josh Horwitz \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt b/news/AAPL/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d3f81417321caae04ff9d49cdf90aeb52759543 --- /dev/null +++ b/news/AAPL/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt @@ -0,0 +1 @@ +There's an uncomfortable feeling in markets this week that good news may be bad news once again - mainly because of what the former means for this week's big central banking set pieces.As U.S. Federal Reserve's Federal Open Market Committee kicks off its two-day policymaking meeting, the economic news from around the world brightened considerably. Possibly wary of a premature easing of financial conditions before its tightening campaign is finished, some investors suspect the Fed may want to hang tough for a bit longer - stressing more needs to be done to ensure inflation is licked even as it slows the pace of rate hikes another notch to a quarter point rise on Wednesday.Another one-two of half point rate rises from the European Central Bank and Bank of England the following day adds to the trepidation, not least with Spain reminding everyone on Monday that inflation rates can re-accelerate again even after peaking.And if global recession is avoided, the hawkishness may persist. That's why China's new year bounce back from COVID-lockdowns and the euro zone dodging a downturn due to falling energy prices in a warm winter matter so much. They account for the world's second and third biggest economic areas.China's economic activity swung back to growth in January after three months of contraction, according to official business surveys released on Tuesday.The euro zone economy confounded forecasts for a quarterly contraction of gross domestic product in the final three months of 2022. Eurostat estimated GDP in the bloc rose 0.1% in Q4 despite consensus expectations for a fall of 0.1%.And if the significant energy price relief of the past two months means activity picked up further early this year, the long-standing assumptions for a winter euro zone recession will evaporate.Underlining the point, the International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly due to "surprisingly resilient" demand in the United States and Europe, easing energy costs and China's reopening.Dogged by Brexit, tax rises and serial labour strikes, Britain was the clear outlier and is the only G7 nation to have suffered a cut to its 2023 IMF, with the economy set to shrink by 0.6% this year - a sharp downgrade from the prior IMF forecast.The constellation leaves markets on the back foot as they await the big monetary policy decisions.Deep in the weeds of the latest corporate earnings season - with more than a fifth of S&P500 firms reporting this week alone and Apple, Amazon and Alphabet all due on Thursday - Wall St stock futures remain in the red after a dour start to the week on Monday. European and Asia bourses were lower too. The dollar has picked up across the board, with two-year U.S. Treasury yields giving back only some of their gains to near three-week highs on Monday.Despite the upbeat macro news, China tech stocks dropped 1.7% on media reports that the Biden administration has stopped approving licenses for U.S. companies to export most items to China's Huawei, signalling new tension in the Sino-U.S. tech war.UniCredit jumped 8.1% to the top of STOXX 600 after the giant Italian lender pledged to return 5.25 billion euros ($5.69 billion) to investors based on its 2022 results after posting its best profit in more than a decade.UBS shares fell 3% after the Swiss banking giant predicted an "uncertain" year ahead plagued by accelerating inflation and higher interest rates - even as it beat estimates, upped its dividend and proposed another $5 billion stock buyback this year.Indian billionaire Gautam Adani's $2.5 billion share sale inched closer to full subscription on Tuesday as investors pumped in funds after a tumultuous week for his group in which its stocks were pummelled by a scathing short-seller reportKey developments that may provide direction to U.S. markets later on Tuesday: * U.S. Federal Reserve's Federal Open Market Committee starts two-day meeting * U.S. Q4 employment costs, Jan consumer confidence, Chicago PMI business survey, Dallas Fed services index, Nov house prices* U.S. corp earnings: Exxon Mobil, Marathon, Pfizer, McDonald's, UPS, Amgen, Caterpillar, AMD, Stryker, Mondelez, Moody's, GM, MSCI, Electronic Arts, Spotify, Snap, Chubb, Western Digital, Juniper Networks, Boston Properties, Edwards Lifesciences, Match, Sysco, Corning, Pentair, Intl Paper, AO Smith, Dover (By Mike Dolan, editing by Ed Osmond, mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Marketmind: Fed games.txt b/news/AAPL/2023.01.31/Marketmind: Fed games.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9ab280cacb8700cca0f2912e0ed0460d2995cef --- /dev/null +++ b/news/AAPL/2023.01.31/Marketmind: Fed games.txt @@ -0,0 +1 @@ +Asian stocks are primed for a green Wednesday on the heels of a broad rally on Wall Street, as a slew of economic data suggested the Federal Reserve's restrictive monetary policy is working as directed.All three major U.S. stock indexes ended bright green and notched welcome gains for the month.The tech-heavy Nasdaq posted its biggest January percentage advance in 22 years.Risk appetite was largely fueled by economic data, specifically the Employment Cost Index (ECI) which decelerated in the fourth quarter to its slowest growth in a year - yet another sign that decades-high inflation is beginning to cool.This is welcome news for the Fed, which is expected to punctuate its two-day monetary policy meeting on Wednesday with a 25 basis point hike to the Fed funds target rate, its latest salvo in its battle against inflation.Upbeat quarterly results from a handful of major industrial firms, including Exxon Mobil Corp, United Parcel Service Inc and General Motors Co added muscle to the rally.On Wednesday, market participants will digest factory and labor market data and parse the Fed's statement and Chairman Jerome Powell's remarks at the subsequent press conference. Social media bellwether Meta Platforms Inc posts results after Wednesday's bell as a prologue to Apple Inc, Amazon.com and Alphabet Inc, all slated for Thursday after the bell.Crude prices advanced after EIA data showed solid U.S. energy demand.Factory data from China showed the manufacturing sector entered expansion territory after Beijing relaxed its COVID-19 restrictions, further hinting at a global demand rebound.(The race to raise rates https://www.reuters.com/graphics/CANADA-CENBANK/zjvqjebewpx/chart_eikon.jpg)Here are some key developments that could provide more direction to markets on Tuesday:- Japan posts manufacturing PMI (Jan)- South Korea releases preliminary import/export data (Jan)- S&P Global unveils Caixin manufacturing PMI for China (Jan)- The U.S. economic reports include ISM PMI (Jan), JOLTS (Dec), ADP payrolls (Jan) and construction spending (Dec) - The U.S. Federal Reserve issues its Fed funds target rate decision at 1400 GMT (Reporting by Stephen Culp; Editing by Josie Kao)By Stephen Culp \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Mobile phone, PC shipments to fall again in 2023, Gartner says.txt b/news/AAPL/2023.01.31/Mobile phone, PC shipments to fall again in 2023, Gartner says.txt new file mode 100644 index 0000000000000000000000000000000000000000..a59fe6e2204d10ae37c62bfce6b79c2c4ab73099 --- /dev/null +++ b/news/AAPL/2023.01.31/Mobile phone, PC shipments to fall again in 2023, Gartner says.txt @@ -0,0 +1 @@ +Mobile phone shipments are projected to fall 4% to 1.34 billion units in 2023, down from 1.40 billion units in 2022, Gartner said. They totaled 1.43 billion in 2021.That was close to the 2009 shipments level when Blackberry and Nokia phones were the market leaders as Apple tried to dent their dominance. The mobile phone market peaked in 2015 when shipments touched 1.9 billion units.The pandemic led to a fundamental change where people working from home didn't feel the need to change phones frequently, Ranjit Atwal, research director at Gartner, said in an interview."Consumers are holding onto their phones longer than expected, from six to nine months, and moving away from fixed to flexible contracts in the absence of meaningful new technology," he said.The demand for smartphones and PCs initially rose during the pandemic, but started to weaken in the middle of the last year.Rising global interest rates and cost of living have dampened demand for smartphones, hitting companies ranging from Samsung to Apple. Personal computer shipments are expected to slide 6.8% this year after falling 16% in 2022, the research firm said. Lenovo, HP Inc and Dell are the top three PC makers.The slump in the devices market will slow in 2023 on expectations of a less pessimistic economic outlook through the year and eventual rise in consumer and business spending, Gartner said. (Reporting by Supantha Mukherjee in Stockholm; editing by Deepa Babington)By Supantha Mukherjee \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Norway wealth fund posts record $164 billion loss.txt b/news/AAPL/2023.01.31/Norway wealth fund posts record $164 billion loss.txt new file mode 100644 index 0000000000000000000000000000000000000000..8a89e220e43a1565a9ca513bc1401c9063fe5e3b --- /dev/null +++ b/news/AAPL/2023.01.31/Norway wealth fund posts record $164 billion loss.txt @@ -0,0 +1 @@ +The previous largest loss was 633 billion crowns in 2008.The fund's return on investment stood at minus 14.1% for the year, which was 0.88 percentage point better than the return on the fund's benchmark index."The market was impacted by war in Europe, high inflation, and rising interest rates. This negatively impacted both the equity market and bond market at the same time, which is very unusual," Chief Executive Nicolai Tangen said in a statement.Founded in 1996, the fund invests revenue from Norway's oil and gas sector and holds stakes in some 9,300 companies globally, owning 1.3% of all listed stocks. It also invests in bonds, unlisted real estate and renewable energy projects.($1 = 9.9752 Norwegian crowns) (Reporting by Victoria Klesty, editing by Gwladys Fouche and Terje Solsvik) \ No newline at end of file diff --git "a/news/AAPL/2023.01.31/Snap swings to quarterly net loss, expects lower rev in Q1\302\240.txt" "b/news/AAPL/2023.01.31/Snap swings to quarterly net loss, expects lower rev in Q1\302\240.txt" new file mode 100644 index 0000000000000000000000000000000000000000..6575b20f6a4b080414af57fb8ac521fb1c473fdf --- /dev/null +++ "b/news/AAPL/2023.01.31/Snap swings to quarterly net loss, expects lower rev in Q1\302\240.txt" @@ -0,0 +1 @@ +The owner of photo messaging app Snapchat is the first of the major digital advertising platforms to report quarterly results, which often provide an early signal for platforms like Facebook owner Meta Platforms Inc and Alphabet's Google, which report results this week.In a letter to investors, Snap said a weakening economy, increased competition from other social media platforms and "platform policy changes" continued to hurt its business.Apple began rolling out privacy changes on iPhones in 2021 that have limited advertisers' ability to collect data for targeted advertising. "We expect the headwinds we have faced over the past year to persist throughout Q1," the company said in a letter to investors.Snap's net loss was $288 million during the quarter, down from net income of $23 million the previous year. Revenue for the fourth quarter ended Dec. 31 was $1.3 billion, flat from the prior-year quarter and in line with analyst expectations. Snap will host an investor day on Feb. 16 to detail its plan to move forward after announcing in August that it would lay off 20% of its staff and discontinue experimental projects like a drone camera to cut costs.The tech sector has been hammered in recent months amid record-high inflation and expectations of a recession. Shares of the Santa Monica, California-based company are down 65% over the past year.Daily active users on Snapchat rose 17% year-over-year to 375 million, beating analyst expectations of 374 million, according to IBES data from Refinitiv. In its letter to investors, the company said its internal forecast assumes a 2% to 10% revenue decline in the first quarter compared to a year ago, and said revenue is currently down 7% so far in the quarter.Snap forecast daily active users in the first quarter between 382 million and 384 million. (Reporting by Sheila Dang in Dallas; Editing by Nick Zieminski)By Sheila Dang \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Solid results for Pets at home and UBS: MarketScree...txt b/news/AAPL/2023.01.31/Solid results for Pets at home and UBS: MarketScree...txt new file mode 100644 index 0000000000000000000000000000000000000000..027cb8422f69df31cc41ae55d0645d1036d4cb19 --- /dev/null +++ b/news/AAPL/2023.01.31/Solid results for Pets at home and UBS: MarketScree...txt @@ -0,0 +1,8 @@ + +Pets at Home, JD Sports, Arrival, Royal KPN, UBS, Credit Suisse, UniCredit, Santander, Unicaja, Boeing, Goldman sachs, Apple, AIG, Johnson & Johnson, Ford, Nike, Lululemon Athletica, Campbell Soup, Bed Bath & Beyond, NXP Semiconductors, Samsung Electronics and Virgin Australia feature in this press review! + + + + + +  diff --git a/news/AAPL/2023.01.31/Stocks gain, yields dip after U.S. data; Fed eyed.txt b/news/AAPL/2023.01.31/Stocks gain, yields dip after U.S. data; Fed eyed.txt new file mode 100644 index 0000000000000000000000000000000000000000..490895b8e6964d0202b2bc59f9424d3d13c1da44 --- /dev/null +++ b/news/AAPL/2023.01.31/Stocks gain, yields dip after U.S. data; Fed eyed.txt @@ -0,0 +1,49 @@ +*U.S. Federal Reserve policy decision awaited*ECB, BoE policy announcements due Thursday*MSCI index set for biggest January pct gain since 2019*U.S. labor costs growth slows in Q4NEW YORK, Jan 31 (Reuters) -A gauge of global stocks advanced on Tuesday as it closed +out a strong month while U.S. Treasury yields fell as investors +assessed economic data and earnings reports ahead of a run of +central bank policy announcements.On Wall Street, U.S. stocks rallied and closed higher, +reversing declines in equity futures after data showed labor +cost growth in the fourth quarter was the smallest in a year, at +1.0%, even in a tight labor market. Other data showed consumer +confidence eased in January, as inflation expectations for the +next 12 months climbed to 6.8% from 6.6% last month.The Federal Reserve is widely expected to raise interest +rates by 25 basis points (bps) at the conclusion of its two-day +policy meeting on Wednesday. Investors will closely monitor +comments from Fed Chair Jerome Powell following the announcement +for clues on the path of monetary policy."Especially ahead of a Fed press conference, something like +this equity market rally is kind of explicitly against what they +want, and they have been pretty clear the market rallying on +what they expect the Fed to do is counter-productive," said Ross +Mayfield, investment strategist at Baird in Louisville, +Kentucky."We do feel like we’ve gotten a bit ahead of ourselves here +even if we are closer to the end of the Fed hiking cycle than +the beginning."The Dow Jones Industrial Averagerose 368.95 points, or 1.09%,to34,086.04, the S&P 500gained 58.83 points, or 1.46%,to4,076.6, and the Nasdaq Compositeadded 190.74 points, or 1.67%,to11,584.55.The S&P 500 closed up 6.2% for the month, its first +January gain since 2019, while the Nasdaq surged 10.7% for its +biggest percentage gain for the month of January since 2001.Interest rate announcements from the Bank of England and the +European Central Bank are scheduled for Thursday, with both seen +as likely to hike rates by 50 basis points.Markets will also grapple with a host of U.S. economic data +this week, culminating in Friday's payrolls report for January. +Investors see signs of weakening in the labor market as a key +factor in bringing down high inflation. Other data this week +include gauges of the manufacturing and services sectors.In addition, more than 100 S&P 500 companies, including +market heavyweights Apple Inc, Amazon.com Inc +and Google parent Alphabet, are scheduled to report +results this week.Despite the strong equity rally, Caterpillar and +McDonald's both lost ground on Tuesday following their +quarterly results. However, Exxon Mobil rose after posting a $56 +billion net profit for 2022.European shares retreated ahead of the central bank meetings +to end the month on a down note, but still notched their biggest +January percentage gain since 2015. Economic data for the euro +zone showed slight growth for the fourth quarter, but further +weakness is expected this year.The pan-European STOXX 600 index lost 0.26%, and +MSCI's gauge of stocks across the globe gained +0.72%. MSCI's index was on pace for its biggest January +percentage gain since 2019.Benchmark U.S. 10-year notes were down 3.5 basis +points to 3.516% in the wake of the data, after hitting a +two-week high of 3.574% on Monday.In currencies, the U.S. dollar index, poised for a +fourth month of declines, fell 0.176%, with the euro up +0.22% to $1.0868.Oil prices recovered from earlier lows, as U.S. crude +settled up 1.2% at $78.87 per barrel and Brent settled +at $84.49, down 0.48% on the day.(Reporting by Chuck Mikolajczak; additional reporting by Lisa +Pauline Mattackal; editing by Diane Craft, Leslie Adler and +Deepa Babington) \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Stocks up, yields dip after U.S. data; Fed on deck.txt b/news/AAPL/2023.01.31/Stocks up, yields dip after U.S. data; Fed on deck.txt new file mode 100644 index 0000000000000000000000000000000000000000..24ce283c784fb5e642f751d99da6fe0e9f3a1c7f --- /dev/null +++ b/news/AAPL/2023.01.31/Stocks up, yields dip after U.S. data; Fed on deck.txt @@ -0,0 +1,45 @@ +*U.S. Federal Reserve policy decision awaited*ECB, BoE policy announcements due Thursday*MSCI index on pace for biggest January pct gain since 2019*U.S. labor costs growth slows in Q4NEW YORK, Jan 31 (Reuters) -A gauge of global stocks rose on Tuesday while U.S. Treasury +yields mostly fell as investors assessed economic data and +earnings reports ahead of a run of central bank policy +announcements.On Wall Street, U.S. stocks were higher, reversing declines +in equity futures after data showed labor cost growth in the +fourth quarter was the smallest in a year, at 1.0%, even in a +tight labor market. Other data showed consumer confidence eased +in January, as inflation expectations for the next 12 months +climbed to 6.8% from 6.6% last month.The Federal Reserve is widely expected to raise interest +rates by 25 basis points (bps) at the conclusion of its two-day +policy meeting on Wednesday. Investors will closely monitor +comments from Fed Chair Jerome Powell following the announcement +for clues on the path of monetary policy."The Fed tomorrow will have to strike a delicate balance in +signaling slowing in the pace of rate increases, while at the +same time emphasizing that they're not done yet with tightening +rates," Oscar Munoz, U.S. macro strategist at TD Securities, +told the Reuters Global Markets Forum."It has to acknowledge the recent improvement in the +inflation data, but also note that the job's not done yet +despite the recent good news."The Dow Jones Industrial Averagerose 228.15 points, or 0.68%,to33,945.24, the S&P 500gained 37.97 points, or 0.95%,to4,055.74, and the Nasdaq Compositeadded 137.22 points, or 1.2%,to11,531.04.The S&P 500, up about 5.2% for the month, is on track +for its first January gain since 2019.Interest rate announcements from the Bank of England and the +European Central Bank are scheduled for Thursday, with both seen +as likely to hike rates by 50 basis points.Markets will also grapple with a host of U.S. economic data +this week, culminating in Friday's payrolls report for January. +Investors see signs of weakening in the labor market as a key +factor in bringing down high inflation. Other data this week +include gauges of the manufacturing and services sectors.In addition, more than 100 S&P 500 companies, including +market heavyweights Apple Inc, Amazon.com Inc +and Google parent Alphabet, are scheduled to report +results this week.Caterpillar and McDonald's both lost ground +on Tuesday following their quarterly results. However, Exxon +Mobil rose after posting a $56 billion net profit for 2022.European shares retreated ahead of the central bank meetings +to end the month on a down note, but still notched their biggest +January percentage gain since 2015. Economic data for the euro +zone showed slight growth for the fourth quarter, but further +weakness is expected this year.The pan-European STOXX 600 index lost 0.26%, and +MSCI's gauge of stocks across the globe gained +0.39%. MSCI's index was on pace for its biggest January +percentage gain since 2019.Benchmark U.S. 10-year notes were down 2.9 basis +points to 3.522% in the wake of the data, after hitting a +two-week high of 3.574% on Monday.In currencies, the U.S. dollar index, on track for a +fourth month of declines, fell 0.196%, with the euro up +0.22% to $1.0868.Oil prices recovered from earlier lows, as U.S. crude +recently rose 0.81% to $78.53 per barrel and Brent was +at $84.47, down 0.51% on the day.(Reporting by Chuck Mikolajczak; additional reporting by Lisa +Pauline Mattackal; editing by Diane Craft and Leslie Adler) \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Taiwan Dec export orders fall for 4th month, uncertainty darkens outlook.txt b/news/AAPL/2023.01.31/Taiwan Dec export orders fall for 4th month, uncertainty darkens outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..603e2da7438cba54d3736bd8897c8b3523553e37 --- /dev/null +++ b/news/AAPL/2023.01.31/Taiwan Dec export orders fall for 4th month, uncertainty darkens outlook.txt @@ -0,0 +1 @@ +The island's export orders, a bellwether for global technology demand, slid 23.2% from a year earlier to $52.17 billion, the Ministry of Economic Affairs said on Tuesday. That was better than analysts' expectations for a 25.6% decline.December's drop followed a 23.4% fall in November. December was still the third highest on record in value terms for the month, the ministry added."To see a reverse trend in orders, it still hinges on end-user demand. So far we have not heard positive news," Huang Yu-ling, director of the ministry's statistics agency, told a news conference.Huang said first-quarter orders could be affected by continuing weak global demand as well as a high base from last year.Orders for telecoms products plummeted 24.1% from a year earlier because of weaker consumer demand especially in China, but also came off a high base, the ministry said.Orders for electronic products fell 20.9%, though the decline was offset by demand for chips for high-performance computing, 5G and automobiles, it added.While semiconductor demand driven by those new technologies would help orders, there were also big uncertainties ahead, including global economic downturns amid high inflation, interest rate hikes and the war in Ukraine, it added. The ministry added that it expected export orders this month to be lower than in January 2022 by between 32.1% and 35.5%.Taiwanese firms, such as Taiwan Semiconductor Manufacturing Co Ltd, are major suppliers to Apple Inc, Qualcomm Inc and other global tech companies.Taiwan's December orders from China nosedived 37.7% from a year earlier, versus November's annual fall of 37.3%. Month-on-month orders from China rose 3.6% helped by the lifting of COVID-19 controls there. China last month began easing its stringent zero-COVID policy that had led to widespread public frustration with lockdowns and damage to the world's second-largest economy, but has since been dealing with a rapid rise in cases.Taiwan's orders from the United States fell 14.7% from a year earlier, compared with a drop of 16.7% the previous month.Export orders from Europe dropped 23.9%, versus November's annual fall of 26.3%. Orders from Japan expanded 5%. (Reporting by Yimou Lee and Jeanny Kao; Editing by Jacqueline Wong) \ No newline at end of file diff --git a/news/AAPL/2023.01.31/UK court to examine legality of resuming Saudi arms sales.txt b/news/AAPL/2023.01.31/UK court to examine legality of resuming Saudi arms sales.txt new file mode 100644 index 0000000000000000000000000000000000000000..31bfa93970a69e94708d1cba0cf8ec2ef0a65d47 --- /dev/null +++ b/news/AAPL/2023.01.31/UK court to examine legality of resuming Saudi arms sales.txt @@ -0,0 +1 @@ +(Alliance News) - London's High Court will on Tuesday examine the legality of a UK government decision to renew selling arms to Saudi Arabia that could be used in the war in Yemen.A UK-based NGO, Campaign Against Arms Trade, has brought the legal action, accusing the government of contributing to breaches of international law and the world's largest humanitarian disaster, which has claimed tens of thousands of lives.The judicial review is expected to last until the end of the week.The NGO brought the legal challenge after Britain announced in summer 2020 that it was resuming arms sales to Saudi Arabia.Ahead of the hearing, CAAT's media coordinator Emily Apple accused London of being a "government that cares more about profit than war crimes and the deaths of civilians".The NGO initially won its case against the government in 2019, when the Court of Appeal ruled that the UK's licensing of arms sales was unlawful.It said the government had failed to assess properly whether the arms sales violated its commitments to human rights and ordered it to "reconsider the matter".While serving as international trade minister, Liz Truss then conducted a review and announced in 2020 that export licences would restart.She insisted Riyadh "has a genuine intent and the capacity to comply with IHL (international humanitarian law)", despite "isolated incidents".CAAT accused Truss of "paying lip service" to the need to review sales.Its spokeswoman condemned Truss's reference to "isolated incidents" as "total nonsense and deeply offensive to all the Yemeni people who've had their lives destroyed by UK weapons".CAAT said the UK government has licensed sales to Riyadh of weaponry including combat aircraft, guided bombs and missiles, with a published value since 2015 of GBP7.9 billion (USD9.8 billion).It said the UK is one of the leading suppliers of arms to Saudi Arabia, along with the US.Martin Butcher, peace and conflict advisor at the charity Oxfam, said Saudi airstrikes "are responsible for a larger proportion of the attacks" on civilians in Yemen."It's essential that the legality of UK arms sales is examined and arms sales must be immediately stopped," he said.In 2021 charities criticised the British government for slashing in half its humanitarian aid to war-torn Yemen.The UK government says Britain is the world's second-largest defence exporter behind the US. The sector had a turnover of GBP25.3 billion in 2020.source: AFPCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Wall St gains after encouraging inflation data with Fed next.txt b/news/AAPL/2023.01.31/Wall St gains after encouraging inflation data with Fed next.txt new file mode 100644 index 0000000000000000000000000000000000000000..c450f8e0aa612d7827a0ec8023bb4737f2c50056 --- /dev/null +++ b/news/AAPL/2023.01.31/Wall St gains after encouraging inflation data with Fed next.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. labor cost growth slows in fourth quarter*McDonald's, Caterpillar slip after earnings*Exxon, GM, UPS rise after their results*Fed decision on interest rates on Wednesday(Recasts with close of U.S. trading)NEW YORK, Jan 31 (Reuters) - Major U.S. stock indexes +closed higher on Tuesday as labor cost data encouraged investors +about the Federal Reserve's aggressive approach to taming +inflation a day ahead of the central bank's critical policy +decision.Investors also digested a full plate of earnings reports, +including share-price gains in Exxon Mobil Corp and +United Parcel Service Inc following their results, +countered by declines in Caterpillar Inc and McDonald's +Corp.U.S. labor costs increased at their slowest pace in a year +in the fourth quarter as wage growth slowed, Labor Department +data showed. The U.S. central bank on Wednesday is expected to +hike the Fed funds rate by 25 basis points, following a 2022 in +which the Fed aggressively boosted rates to control soaring +inflation.The labor cost data is "indicating that maybe what the Fed +has done is working and ... we’re rounding the corner on +interest rate hikes," said Peter Tuz, president of Chase +Investment Counsel in Charlottesville, Virginia.According to preliminary data, the S&P 500 +gained 59.39 points, or 1.48%, to end at 4,077.16 points, +while the Nasdaq Composite gained 190.99 points, or +1.68%, to 11,584.55. The Dow Jones Industrial Average +rose 371.04 points, or 1.10%, to 34,088.13.The S&P 500 posted its first increase for the month of +January since 2019, following a brutal 2022 in which the +benchmark index sank 19.4%.Aside from the Fed's rate decision on Wednesday, Chair +Jerome Powell's news conference will be scrutinized for whether +the rate-hiking cycle may be coming to a close and for signs of +how long rates could stay elevated."Jerome Powell and team are probably looking at this easing +of financial conditions that has happened over the last month, +and we will see if they try to push back against it to any +extent," said Mona Mahajan, senior investment strategist at +Edward Jones. "I don’t think they would want markets to move up +too far, too fast either."In earnings news, Exxon Mobil shares rose after the oil +major posted a $56 billion net profit for 2022, setting not only +a company record but a historic high for the Western oil +industry.United Parcel Service shares climbed after its quarterly +profit topped estimates, while General Motors Co shares +jumped after it forecast stronger-than-expected earnings for +2023.Caterpillar shares sank as the machinery maker's +fourth-quarter earnings slid by 29%. McDonald's shares dropped +after the burger chain warned inflation will weigh on margins in +2023.A busy week for markets will also include reports in coming +days from Apple Inc, Amazon.com Inc and +Alphabet Inc, central bank meetings in Europe and the +monthly U.S. employment report. +(Reporting by Lewis Krauskopf in New York, and Johann M Cherian +and Shreyashi Sanyal in Bengaluru +Editing by Maju Samuel and Matthew Lewis) \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Wall St gains over 1% after encouraging inflation data with Fed next.txt b/news/AAPL/2023.01.31/Wall St gains over 1% after encouraging inflation data with Fed next.txt new file mode 100644 index 0000000000000000000000000000000000000000..ccf20e79254c085379b7f18f65981c63a9c1dc9f --- /dev/null +++ b/news/AAPL/2023.01.31/Wall St gains over 1% after encouraging inflation data with Fed next.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nasdaq posts biggest January gain since 2001*U.S. labor cost growth slows in fourth quarter*Exxon, UPS rise after results, Caterpillar slumps*Fed decision on interest rates on Wednesday*Indexes up: Dow 1.09%, S&P 500 1.46%, Nasdaq 1.67%(Adds further market data)NEW YORK, Jan 31 (Reuters) - Major U.S. stock indexes +closed over 1% higher on Tuesday as labor cost data encouraged +investors about the Federal Reserve's aggressive approach to +taming inflation a day ahead of the central bank's critical +policy decision.Investors also digested a full plate of earnings reports. +Shares of Exxon Mobil Corp and United Parcel Service Inc +rose following their respective results, while +Caterpillar Inc and McDonald's Corp ended weaker +after their results.The S&P 500 tallied its first January increase since 2019, +gaining 6.2%, while the tech-heavy Nasdaq jumped 10.7% for the +month - its biggest January percentage rise since 2001.U.S. labor costs increased at their slowest pace in a year +in the fourth quarter as wage growth slowed, Labor Department +data showed. The U.S. central bank on Wednesday is expected to +hike the Fed funds rate by 25 basis points, following a 2022 in +which the Fed aggressively boosted rates to control soaring +inflation.The labor cost data is "indicating that maybe what the Fed +has done is working and ... we’re rounding the corner on +interest rate hikes," said Peter Tuz, president of Chase +Investment Counsel in Charlottesville, Virginia.The Dow Jones Industrial Average rose 368.95 points, +or 1.09%, to 34,086.04, the S&P 500 gained 58.83 points, +or 1.46%, to 4,076.6 and the Nasdaq Composite added +190.74 points, or 1.67%, to 11,584.55.All 11 S&P 500 sectors ended in positive territory, led by +materials and consumer discretionary, both +up over 2%.Aside from the Fed's rate decision on Wednesday, Chair +Jerome Powell's news conference will be scrutinized for whether +the rate-hiking cycle may be coming to a close and for signs of +how long rates could stay elevated."Jerome Powell and team are probably looking at this easing +of financial conditions that has happened over the last month, +and we will see if they try to push back against it to any +extent," said Mona Mahajan, senior investment strategist at +Edward Jones. "I don’t think they would want markets to move up +too far, too fast either."In earnings news, Exxon Mobil shares rose 2.2% after the oil +major posted a $56 billion net profit for 2022, setting not only +a company record but a historic high for the Western oil +industry.United Parcel Service shares climbed 4.7% after its +quarterly profit topped estimates, while General Motors Co +shares jumped 8.3% after it forecast +stronger-than-expected earnings for 2023.Caterpillar shares sank 3.5% as the machinery maker's +fourth-quarter earnings slid by 29%. McDonald's shares dropped +1.3% after the burger chain warned inflation will weigh on +margins in 2023.A busy week for markets will also include reports in coming +days from Apple Inc, Amazon.com Inc and +Alphabet Inc, central bank meetings in Europe and the +monthly U.S. employment report.Advancing issues outnumbered declining ones on the NYSE by a +4.91-to-1 ratio; on Nasdaq, a 3.12-to-1 ratio favored advancers.The S&P 500 posted 10 new 52-week highs and no new lows; the +Nasdaq Composite recorded 100 new highs and 25 new lows.About 12 billion shares changed hands in U.S. exchanges, +compared with the 11.4 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, and Johann M Cherian +and Shreyashi Sanyal in Bengaluru +Editing by Maju Samuel and Matthew Lewis) \ No newline at end of file diff --git a/news/AAPL/2023.01.31/Wall Street rises after encouraging inflation data with Fed on deck.txt b/news/AAPL/2023.01.31/Wall Street rises after encouraging inflation data with Fed on deck.txt new file mode 100644 index 0000000000000000000000000000000000000000..9f256254218edc6f2d77dd49de581dbf2293daf9 --- /dev/null +++ b/news/AAPL/2023.01.31/Wall Street rises after encouraging inflation data with Fed on deck.txt @@ -0,0 +1,48 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. labor costs growth slows in fourth quarter*McDonald's, Caterpillar slip after earnings*Exxon, GM, UPS rise after their results*Fed decision on interest rates on Wednesday*Indexes up: Dow 0.48%, S&P 500 0.73%, Nasdaq 0.95%(Adds midafternoon trading)NEW YORK, Jan 31 (Reuters) - Major U.S. stock indexes +rose on Tuesday as labor cost data encouraged investors about +the Federal Reserve's aggressive approach to taming inflation a +day ahead of the central bank's critical policy decision.Investors also digested a full plate of earnings reports, +with share declines in Caterpillar and McDonald's +following their results capping gains on the Dow.U.S. labor costs increased at their slowest pace in a year +in the fourth quarter as wage growth slowed, Labor Department +data showed. The U.S. central bank on Wednesday is expected to +hike the Fed funds rate by 25 basis points, following a 2022 in +which the Fed aggressively boosted rates to control soaring +inflation."The fact that we have had goods inflation cooling, we have +had housing cool, and the last shoe to drop is probably this +labor services inflation – we may be getting early indications +of that," said Mona Mahajan, senior investment strategist at +Edward Jones.The Dow Jones Industrial Average rose 163.23 points, +or 0.48%, to 33,880.32, the S&P 500 gained 29.51 points, +or 0.73%, to 4,047.28 and the Nasdaq Composite added +107.90 points, or 0.95%, to 11,501.72.Gains were widespread, with 10 of the 11 S&P 500 sectors in +positive territory, led by materials and consumer +discretionary. Utilities were the lone +sector logging a decline.The S&P 500 was on track to post its first increase for the +month of January since 2019, following a brutal 2022 in which +the benchmark index sank 19.4%.Aside from the Fed's rate decision on Wednesday, Chair +Jerome Powell's news conference will be scrutinized for whether +the rate-hiking cycle may be coming to a close and for signs of +how long rates could stay elevated."Jerome Powell and team are probably looking at this easing +of financial conditions that has happened over the last month, +and we will see if they try to push back against it to any +extent," Mahajan said. "I don’t think they would want markets to +move up too far, too fast either."In earnings news, Exxon Mobil Corp shares rose 2% +after the oil major posted a $56 billion net profit for 2022, +setting not only a company record but a historic high for the +Western oil industry.United Parcel Service Inc shares climbed 4.4% after +its quarterly profit topped estimates, while General Motors Co +shares jumped 8% after it forecast stronger-than-expected +earnings for 2023.Caterpillar Inc shares slumped over 3% as the machinery +maker's fourth-quarter earnings slid by 29%. McDonald's shares +slumped 1.8% after the burger chain warned inflation will weigh +on margins in 2023.A busy week for markets will also include reports in coming +days from Apple Inc, Amazon.com Inc and +Alphabet Inc, central bank meetings in Europe and the +monthly U.S. employment report.Advancing issues outnumbered declining ones on the NYSE by a +4.28-to-1 ratio; on Nasdaq, a 3.11-to-1 ratio favored advancers.The S&P 500 posted 6 new 52-week highs and no new lows; the +Nasdaq Composite recorded 73 new highs and 19 new lows. +(Reporting by Lewis Krauskopf in New York, and Johann M Cherian +and Shreyashi Sanyal in Bengaluru +Editing by Maju Samuel and Matthew Lewis) \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Analysis-Hawkish Fed could hobble volatility funds' stock buying spree.txt b/news/AAPL/2023.02.01/Analysis-Hawkish Fed could hobble volatility funds' stock buying spree.txt new file mode 100644 index 0000000000000000000000000000000000000000..7af63222a92ceba088695c458dca1aa8c6e6a08b --- /dev/null +++ b/news/AAPL/2023.02.01/Analysis-Hawkish Fed could hobble volatility funds' stock buying spree.txt @@ -0,0 +1 @@ +The S&P 500's 6.2% surge in January has been accompanied by a drop in measures of volatility across the board. Daily swings in the index over the past month were the smallest since early 2022, while the Cboe Volatility Index also stands near a one-year low. The drop in market gyrations has triggered a buy-signal for certain computer-driven strategies including volatility control funds, risk parity funds and Commodity Trading Advisors (CTAs). GRAPHIC: Volatility drop https://www.reuters.com/graphics/USA-STOCKS/gdvzqdqdxpw/chart.png Broadly known as systematic strategies, these funds have been scooping up between $1 billion and $2 billion a day in U.S. stocks, according to BNP Paribas estimates, helping drive an equity rally that has come despite worries that a hawkish Fed will plunge the U.S. economy into recession."This has definitely been more a flow-driven rally than a shift in the overall fundamental backdrop," said Max Grinacoff, U.S. equity and derivatives strategist at BNP Paribas.Grinacoff estimates these types of funds could deploy another $50 billion-$60 billion of additional buying over the course of a month if realized volatility - a measure of daily stock swings - halves from its current level of around 16%, a level of calm unseen in U.S. stocks since late 2021.Of course, the market will have to navigate a plethora of risks ahead - most prominently the Fed, which concludes its monetary policy meeting on Wednesday. Signs that the central bank is unlikely to pull back on its hawkish monetary policy outlook despite evidence of slowing inflation and softness in the economy could exacerbate recession fears and reignite volatility, forcing the funds to taper purchases or even start selling. Markets widely expect the central bank to raise borrowing costs by another 25 basis points to between 4.50% and 4.75%.Other potential pitfalls include earnings from some of the largest U.S. companies this week, including Apple Inc, Alphabet Inc and Meta Platforms Inc, as well as the closely watched U.S. nonfarm payrolls report on Friday."As we think that technical factors may have played a large role in the market performance so far this year, we expect this to eventually wane as fundamental factors resume the dominant position as market drivers," Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note on Tuesday.FAVORABLE CONDITIONSInvestors said conditions were supportive of a rally at the beginning of the year. The S&P 500's 19.4% drop last year, its worst annual percentage decline since 2008, had prompted market participants - including various volatility-linked strategies - to cut their equity allocations to historically low levels. "We have this trifecta of seemingly depressed equity positioning across three major investor groups: vol target funds, CTAs and hedge funds," said Anand Omprakash, head of derivatives quantitative strategy at Elevation Securities.Volatility control funds have raised their equity allocation to a nine-month high of 57.7%, strategists at Deutsche Bank wrote on Friday.Grinacoff, of BNP Paribas, estimates volatility control funds have assets of about $275 billion, while CTAs, not all of which have a volatility control strategy, as a group have $800 billion allocated across strategies.While that is modest relative to the roughly $34 trillion value of the S&P 500 alone, such funds bear watching since they buy in rising markets and sell when stocks tumble, and can potentially exacerbate downside moves as well as rallies. To be sure, while volatility has fallen from last year's peaks, when the VIX rose as high as 36.55, current levels remain above the index's long-term average, a sign that options investors are likely mindful of the risks ahead, said Garrett DeSimone, head of quantitative research at OptionMetrics."Market volatility measured by VIX remains stuck above the 18 level, which is its long-term average. This indicates a slight anxiety regarding macro outcomes on future volatility," he said. (Reporting by Saqib Iqbal Ahmed in New York; Editing by Ira Iosebashvili and Matthew Lewis)By Saqib Iqbal Ahmed \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Apple : MLS Season Pass is now available worldwide on the Apple TV app.txt b/news/AAPL/2023.02.01/Apple : MLS Season Pass is now available worldwide on the Apple TV app.txt new file mode 100644 index 0000000000000000000000000000000000000000..d1d5560483e11af3f8094a82f7fefe290bc2ceb8 --- /dev/null +++ b/news/AAPL/2023.02.01/Apple : MLS Season Pass is now available worldwide on the Apple TV app.txt @@ -0,0 +1,410 @@ + + + +UPDATEFebruary 1, 2023 + + + + MLS Season Pass is now available worldwide on the Apple TV app + + + + Fans can enjoy a wide variety of free Major League Soccer content starting today to get ready for the 2023 season kicking off February 25 + + MLS Season Pass will be home to all MLS and Leagues Cup matches, and hundreds of MLS NEXT Pro and MLS NEXT games + + + + Available on the Apple TV app, MLS Season Pass is the exclusive destination to watch every live Major League Soccer regular-season match, the entire postseason, and Leagues Cup - all with no blackouts. + + + + Starting today, fans can sign up for MLS Season Pass, the unprecedented subscription service now available on the Apple TV app in more than 100 countries and regions. To get ready for the 2023 Major League Soccer season, fans can enjoy a wide variety of free on-demand content that celebrates the action, excitement, and distinct culture of MLS, including content from MLS clubs, 2023 player profiles, the best league and club highlights from the 2022 season, full replays of classic matches, and documentary-style vignettes. + + + Once the season kicks off on February 25, MLS Season Pass will feature every live MLS regular-season match, the entire Audi MLS Cup Playoffs, and Leagues Cup1 all in one place, with consistent match times and no blackouts - a first in live sports broadcasting. With an MLS Season Pass subscription, fans can enjoy every MLS match on billions of devices through the Apple TV app on Apple devices, smart TVs, streaming devices, set-top boxes, and game consoles, as well as on the web at tv.apple.com. + + + "Having accessibility is huge for the sport. It's going to help grow MLS not only domestically, but internationally. You'll have eyes all over watching our games," said Kellyn Acosta, Los Angeles Football Club's midfielder. "We talk about how we want the league to continue to grow and bridge the gap in comparison with other leagues, and I think having this Apple partnership is a step in the right direction. Leading into the World Cup in 2026, you want to build momentum and gain more exposure, and I think this partnership is going to truly be beautiful. I know my family is excited to have all the games in one place, and I think it's going to be huge for the league and for the sport in the US." + + + "It never really crossed my mind that a partnership like this would really alleviate a lot of those stresses for so many of our fans, our families, our friends, and for the players too, because we watch MLS all the time," said Mark-Anthony Kaye, Toronto FC's midfielder. "So it's a good feeling to know that the league understands these issues and has done a really good job to put a deal together that can put us in a better position to bring MLS to the world. I've only been in the league for six years, but the amount of growth is mind-blowing. So I think this is only scratching the surface with this Apple deal, and I'm really happy that they've done it." + + + Fans can visit mlssoccer.com/schedule to see the full 2023 MLS season schedule, including which matches are available for free on the Apple TV app during the first month. Additional free matches will be added regularly throughout the season. + + + + Tim Cook and Eddy Cue hosted Major League Soccer players from across the league and MLS commissioner Don Garber at Apple Park. + + + + The Ultimate Destination for MLS Fans + + + MLS Season Pass will be home to the most expansive and accessible content lineup ever for MLS fans, including all MLS and Leagues Cup matches, as well as hundreds of MLS NEXT Pro and MLS NEXT games during the season. Every match features the ability for fans to join the action live or watch it from the start. + + + MLS Season Pass will also feature pregame shows and a postgame wrap-up to close each night. To complement the action, MLS Season Pass will offer a five-hour live whip-around show, capturing all of the key moments from every match from the start of the first matches on the East Coast to the final whistle of the West Coast contests (7:30 p.m. ET-12:30 a.m. ET). + + + On match days, all the live and upcoming matches for the day will be prominently featured on MLS Season Pass, so fans can quickly see what they want to watch. On non-match days, fans can enjoy match previews, club sizzle videos to get pumped for the next showdown, highlights, replays, and more great content. As the season goes on, MLS Season Pass will feature weekly shows, match-winning goals, great saves, and other highlights from the week - all curated to highlight the best of the action across the entire league. + + + + Fans can watch MLS Season Pass through the Apple TV app on billions of devices, including Apple devices, smart TVs, streaming devices, set-top boxes, and game consoles, as well as on the web at tv.apple.com. + + + + All matches will feature both English- and Spanish-language announcers, while matches involving Canadian teams will also offer commentary in French. Pregame shows and the postgame wrap-up will be available in English and Spanish. Fans in the US and Canada will also have the option to select their home team's radio for broadcast audio on the Apple TV app where available. + + + Spearheading the MLS Season Pass coverage will be a team of talented broadcasters and soccer legends, whose passion for the game will help showcase all of the MLS action and compelling storylines. Fans can visit the MLS website to learn about the MLS Season Pass broadcast team. The complete on-air broadcast team and the full production plan for MLS Season Pass will be announced soon. + + + Dedicated Club Pages + + + Fans can select their favorite club for a more personalized experience throughout the Apple TV app. Once a fan selects a favorite club, their matches will automatically appear in the Up Next watchlist on the Apple TV app, so they will never miss a moment. Fans can also opt into receiving a notification on iPhone and iPad whenever their match is about to start. + + + Each club page will offer fans a single destination to find everything there is to watch on their club. Fans can explore live matches, match previews, and other key club content, including interviews and replays. Fans will also find a schedule of all matches for their club, and enjoy featured stories and highlights that are updated regularly. + + + + + +MLS Season Pass on the Apple TV app's Watch Now tab featuring Los Angeles FC on iPhone 14 Pro. + + +List of MLS teams on the Apple TV app on iPhone 14 Pro. + + + + + MLS Season Pass features dedicated club pages, offering fans a single destination to find everything there is to watch on their club. + + + Fans can choose to follow their favorite Major League Soccer clubs and get alerts before upcoming games, follow scores in real time, and more. + + + + +previous + + +next + + + + + + More Ways for Fans to Celebrate MLS + + + Beginning today, fans can enjoy club-curated playlists featuring songs and artists that embody the cultures of those clubs, as well as two MLS-inspired playlists exclusively on Apple Music, with more music content coming throughout the season. Fans can visit apple.co/AM-MLS on iPhone, iPad, or Mac to be directed right to the MLS experience on Apple Music. + + + + + When the season kicks off on February 25, fans can visit Apple Maps to explore dedicated Match Day Guides created by MLS clubs, including Atlanta United, Nashville SC, and Toronto FC, and find recommendations for local bars and restaurants to catch a game, detailed information about their stadiums, and more. Maps is also launching several new custom-designed three-dimensional landmarks of MLS Stadiums in time for the season openers, including Red Bull Arena in Harrison, New Jersey; Lumen Field in Seattle; and Audi Field in Washington, D.C. + + + With iOS 16, Apple introduced a new My Sports section on the Apple TV app across iPhone, iPad, and Apple TV for users to easily follow their favorite clubs, teams, and leagues.2 Fans can visit apple.co/MySportsMLS on iPhone or iPad to be directed right to the Apple TV app and follow their favorite Major League Soccer clubs, and get alerts before upcoming games, follow scores in real time, and more. + + + My Sports also makes it easy to get personalized, real-time sports coverage from Apple News. Fans can stay up to speed with the best stories from top publications - plus get live scores, schedules, standings, and highlights. + + + Fans can ask Siri a wide variety of questions related to MLS, including schedules, scores, standings, club rosters, and player stats.3 + + + Subscribing to MLS Season Pass + + + Fans can subscribe to MLS Season Pass on the Apple TV app for $14.99 per month during the season or $99 per season, and Apple TV+ subscribers can sign up at a special price of $12.99 per month or $79 per season.4 A subscription to MLS Season Pass will be included with each full-season ticket account. Through Family Sharing, up to six family members can share the subscription using their own Apple ID and password. + + + The launch of MLS Season Pass marks the official kickoff of the 10-year partnership between MLS and Apple, a historic first for a major professional sports league. + + + + + + + + Text of this article + + + + + February 1, 2023 + + + UPDATE + + + MLS Season Pass is now available worldwide on the Apple TV app + + + Fans can enjoy a wide variety of free Major League Soccer content starting today to get ready for the 2023 season kicking off February 25 + + MLS Season Pass will be home to all MLS and Leagues Cup matches, and hundreds of MLS NEXT Pro and MLS NEXT games + + + Starting today, fans can sign up for MLS Season Pass, the unprecedented subscription service now available on the Apple TV app in more than 100 countries and regions. To get ready for the 2023 Major League Soccer season, fans can enjoy a wide variety of free on-demand content that celebrates the action, excitement, and distinct culture of MLS, including content from MLS clubs, 2023 player profiles, the best league and club highlights from the 2022 season, full replays of classic matches, and documentary-style vignettes. + + + Once the season kicks off on February 25, MLS Season Pass will feature every live MLS regular-season match, the entire Audi MLS Cup Playoffs, and Leagues Cup1 all in one place, with consistent match times and no blackouts - a first in live sports broadcasting. With an MLS Season Pass subscription, fans can enjoy every MLS match on billions of devices through the Apple TV app on Apple devices, smart TVs, streaming devices, set-top boxes, and game consoles, as well as on the web at tv.apple.com. + + + "Having accessibility is huge for the sport. It's going to help grow MLS not only domestically, but internationally. You'll have eyes all over watching our games," said Kellyn Acosta, Los Angeles Football Club's midfielder. "We talk about how we want the league to continue to grow and bridge the gap in comparison with other leagues, and I think having this Apple partnership is a step in the right direction. Leading into the World Cup in 2026, you want to build momentum and gain more exposure, and I think this partnership is going to truly be beautiful. I know my family is excited to have all the games in one place, and I think it's going to be huge for the league and for the sport in the US." + + + "It never really crossed my mind that a partnership like this would really alleviate a lot of those stresses for so many of our fans, our families, our friends, and for the players too, because we watch MLS all the time," said Mark-Anthony Kaye, Toronto FC's midfielder. "So it's a good feeling to know that the league understands these issues and has done a really good job to put a deal together that can put us in a better position to bring MLS to the world. I've only been in the league for six years, but the amount of growth is mind-blowing. So I think this is only scratching the surface with this Apple deal, and I'm really happy that they've done it." + + + Fans can visit mlssoccer.com/schedule to see the full 2023 MLS season schedule, including which matches are available for free on the Apple TV app during the first month. Additional free matches will be added regularly throughout the season. + + + The Ultimate Destination for MLS Fans + + + MLS Season Pass will be home to the most expansive and accessible content lineup ever for MLS fans, including all MLS and Leagues Cup matches, as well as hundreds of MLS NEXT Pro and MLS NEXT games during the season. Every match features the ability for fans to join the action live or watch it from the start. + + + MLS Season Pass will also feature pregame shows and a postgame wrap-up to close each night. To complement the action, MLS Season Pass will offer a five-hour live whip-around show, capturing all of the key moments from every match from the start of the first matches on the East Coast to the final whistle of the West Coast contests (7:30 p.m. ET-12:30 a.m. ET). + + + On match days, all the live and upcoming matches for the day will be prominently featured on MLS Season Pass, so fans can quickly see what they want to watch. On non-match days, fans can enjoy match previews, club sizzle videos to get pumped for the next showdown, highlights, replays, and more great content. As the season goes on, MLS Season Pass will feature weekly shows, match-winning goals, great saves, and other highlights from the week - all curated to highlight the best of the action across the entire league. + + + All matches will feature both English- and Spanish-language announcers, while matches involving Canadian teams will also offer commentary in French. Pregame shows and the postgame wrap-up will be available in English and Spanish. Fans in the US and Canada will also have the option to select their home team's radio for broadcast audio on the Apple TV app where available. + + + Spearheading the MLS Season Pass coverage will be a team of talented broadcasters and soccer legends, whose passion for the game will help showcase all of the MLS action and compelling storylines. Fans can visit the MLS website to learn about the MLS Season Pass broadcast team. The complete on-air broadcast team and the full production plan for MLS Season Pass will be announced soon. + + + Dedicated Club Pages + + + Fans can select their favorite club for a more personalized experience throughout the Apple TV app. Once a fan selects a favorite club, their matches will automatically appear in the Up Next watchlist on the Apple TV app, so they will never miss a moment. Fans can also opt into receiving a notification on iPhone and iPad whenever their match is about to start. + + + Each club page will offer fans a single destination to find everything there is to watch on their club. Fans can explore live matches, match previews, and other key club content, including interviews and replays. Fans will also find a schedule of all matches for their club, and enjoy featured stories and highlights that are updated regularly. + + + More Ways for Fans to Celebrate MLS + + + Beginning today, fans can enjoy club-curated playlists featuring songs and artists that embody the cultures of those clubs, as well as two MLS-inspired playlists exclusively on Apple Music, with more music content coming throughout the season. Fans can visit apple.co/AM-MLS on iPhone, iPad, or Mac to be directed right to the MLS experience on Apple Music. + + + When the season kicks off on February 25, fans can visit Apple Maps to explore dedicated Match Day Guides created by MLS clubs, including Atlanta United, Nashville SC, and Toronto FC, and find recommendations for local bars and restaurants to catch a game, detailed information about their stadiums, and more. Maps is also launching several new custom-designed three-dimensional landmarks of MLS Stadiums in time for the season openers, including Red Bull Arena in Harrison, New Jersey; Lumen Field in Seattle; and Audi Field in Washington, D.C. + + + With iOS 16, Apple introduced a new My Sports section on the Apple TV app across iPhone, iPad, and Apple TV for users to easily follow their favorite clubs, teams, and leagues.2 Fans can visit apple.co/MySportsMLS on iPhone or iPad to be directed right to the Apple TV app and follow their favorite Major League Soccer clubs, and get alerts before upcoming games, follow scores in real time, and more. + + + My Sports also makes it easy to get personalized, real-time sports coverage from Apple News. Fans can stay up to speed with the best stories from top publications - plus get live scores, schedules, standings, and highlights. + + + Fans can ask Siri a wide variety of questions related to MLS, including schedules, scores, standings, club rosters, and player stats.3 + + + Subscribing to MLS Season Pass + + + Fans can subscribe to MLS Season Pass on the Apple TV app for $14.99 per month during the season or $99 per season, and Apple TV+ subscribers can sign up at a special price of $12.99 per month or $79 per season.4 A subscription to MLS Season Pass will be included with each full-season ticket account. Through Family Sharing, up to six family members can share the subscription using their own Apple ID and password. + + + The launch of MLS Season Pass marks the official kickoff of the 10-year partnership between MLS and Apple, a historic first for a major professional sports league. + + + + This excludes Leagues Cup and Campeones Cup for viewers in Mexico. + + + My Sports is not available in all countries and regions. + + + Siri availability, features, and commands vary by language and country or region. + + + To subscribe to MLS Season Pass, customers must update to iOS 16.2 or later, iPadOS 16.2 or later, tvOS 16.2 or later, and macOS Ventura. Fans around the world can enjoy MLS Season Pass in English, Spanish, or French where available, including closed captions. + + + + Press Contacts + + + Bernadette Simpao + + + Apple + + + bsimpao@apple.com + + + (669) 227-9273 + + + Dan Courtemanche + + + MLS + + + dan.courtemanche@MLSsoccer.com + + + (212) 450-1225 + + + Apple Media Helpline + + + media.help@apple.com + + + (408) 974-2042 + + +Copy text + + + + + + + Images in this article + + +Download all images + + + + + + + Share article + + + + + This excludes Leagues Cup and Campeones Cup for viewers in Mexico. + + + My Sports is not available in all countries and regions. + + + Siri availability, features, and commands vary by language and country or region. + + + To subscribe to MLS Season Pass, customers must update to iOS 16.2 or later, iPadOS 16.2 or later, tvOS 16.2 or later, and macOS Ventura. Fans around the world can enjoy MLS Season Pass in English, Spanish, or French where available, including closed captions. + + + + + + Press Contacts + + + + + Bernadette Simpao + + + Apple + + + bsimpao@apple.com + + + (669) 227-9273 + + + + + Dan Courtemanche + + + MLS + + + dan.courtemanche@MLSsoccer.com + + + (212) 450-1225 + + + + + Apple Media Helpline + + + media.help@apple.com + + + (408) 974-2042 + + + + + + + Latest News + + + +PRESS RELEASE + + +Apple Music launches Rihanna's Road to Halftime ahead of Super Bowl LVII + + +January 30, 2023 + + + + +PRESS RELEASE + + +Apple builds on privacy commitment by unveiling new efforts on Data Privacy Day + + +January 24, 2023 + + + + +UPDATE + + +Apple celebrates Black History Month with Unity Collection and exclusive content + + +January 18, 2023 + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Apple Inc. published this content on 01 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2023 12:17:02 UTC. + + diff --git a/news/AAPL/2023.02.01/Apple and Google app stores get thumbs down from White House.txt b/news/AAPL/2023.02.01/Apple and Google app stores get thumbs down from White House.txt new file mode 100644 index 0000000000000000000000000000000000000000..8c32e1ec5673e0f82f87b9c4811b301990611ef8 --- /dev/null +++ b/news/AAPL/2023.02.01/Apple and Google app stores get thumbs down from White House.txt @@ -0,0 +1 @@ +WASHINGTON (AP) — The Biden administration is taking aim at Apple and Google for operating mobile app stores that it says stifle competition.The finding is contained in a Commerce Department report released by the administration on Wednesday as President Joe Biden convened his competition council for an update on efforts to promote competition and lower prices.“You've heard me say capitalism without competition isn't capitalism,” Biden said Wednesday before convening the meeting, “it is just simply exploitation," he said.And on another competition front, the Consumer Financial Protection Bureau was pushing forward with efforts to limit credit card late fees.The report from the Commerce Department's National Telecommunications and Information Administration says the current app store model — dominated by Apple and Google — is “harmful to consumers and developers" by inflating prices and reducing innovation. The firms have a stranglehold on the market that squelches competition, it adds.“The policies that Apple and Google have in place in their own mobile app stores have created unnecessary barriers and costs for app developers, ranging from fees for access to functional restrictions that favor some apps over others” the report said.In an op-ed in The Wall Street Journal in January, Biden called on Democrats and Republicans to rein in large tech firms without mentioning Cupertino, California-based Apple Inc. and Mountain View, California-based Google LLC by name.“When tech platforms get big enough, many find ways to promote their own products while excluding or disadvantaging competitors — or charge competitors a fortune to sell on their platform,” Biden said. “My vision for our economy is one in which everyone — small and midsized businesses, mom-and-pop shops, entrepreneurs — can compete on a level playing field with the biggest companies.”A representative from Apple told The Associated Press that “we respectfully disagree with a number of conclusions reached in the report, which ignore the investments we make in innovation, privacy and security — all of which contribute to why users love iPhone and create a level playing field for small developers to compete on a safe and trusted platform."And a Google spokesperson said the firm also disagrees with the report, namely “how this report characterizes Android, which enables more choice and competition than any other mobile operating system.”A legal battle over app store dominance is already playing out in the courts.Apple has defended the area surrounding its iPhone app store, known as a walled garden, as an indispensable feature prized by consumers who want the best protection available for their personal information. It has said it faces significant competition from various alternatives to video games on its iPhones. And Google has long defended itself against claims of monopoly.The Commerce Department report said “new legislation and additional antitrust enforcement actions are likely necessary” to boost competition in the app ecosystem.Alan Davidson, the NTIA administrator, told reporters the report "identifies where legislation would be needed to address some of these issues.”Biden said that his administration will work with state and local officials to identify ways to crack down on junk fees in their jurisdictions. He also called on Congress to pass the Junk Fee Protection Act that would target hidden fees in the entertainment, travel and hospitality industries.Meanwhile, the White House said the Consumer Financial Protection Bureau would move forward with a proposed rule to limit credit card late fees, which the bureau estimates would save consumers roughly $9 billion in late fees annually.Rohit Chopra, the bureau's director, said the rule is projected to reduce typical late fees from roughly $30 to $8 for missed payments and could go into effect as soon as 2024.“Historically, credit card companies charge relatively small penalty amounts for missed payments, but once they discovered that these fees could be a source of easy profits, late fees shot up with a surge occurring in the 2000s," Chopra told reporters. “And in recent years, these late fees have surged to as much as $41 for a missed payment. These fees add up, with consumers being hit with $12 billion a year in late fees in addition to the billions of dollars in interest they’re paying.”The bureau is the nation’s financial watchdog agency created in 2011 after the Great Recession.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Apple distributor Redington's Q3 profit falls as costs outpace topline growth.txt b/news/AAPL/2023.02.01/Apple distributor Redington's Q3 profit falls as costs outpace topline growth.txt new file mode 100644 index 0000000000000000000000000000000000000000..e943fe7983a561dccb86d03d3bd2d42a82bc5f24 --- /dev/null +++ b/news/AAPL/2023.02.01/Apple distributor Redington's Q3 profit falls as costs outpace topline growth.txt @@ -0,0 +1 @@ +For Redington, which distributes electronic products made by Apple and Dell among others, consolidated profit slipped to 3.8 billion rupees ($46.4 million) for the quarter ended Dec. 31.Companies across the globe have had to battle higher transportation and raw material costs as the Russia-Ukraine war led to an increase in the prices of several major commodities.Redington's expenses rose about 32% to 212.2 billion rupees, narrowly outpacing a near-31% jump in revenue from operations to a record 216.74 billion rupees.The company said revenue from Singapore, India and South Asia (SISA) increased nearly 29%, while that from the rest of the world, including the Middle East, Turkey, and Africa, rose around 32%.Chennai-based Redington's topline went up even as the gadget distributor cautioned demand for remote-working equipment likely declined with people gradually returning to offices.High inflation and interest rates as well as weaker currencies in markets where Redington operates posed further challenges.Redington shares, which rose 25% in 2022 and 2% last month, closed over 1% lower at 182.65 rupees on Wednesday.($1 = 81.8750 Indian rupees) (Reporting by Praveen Paramasivam in Chennai; Editing by Janane Venkatraman) \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Apple embraces potential of sports streaming with MLS deal.txt b/news/AAPL/2023.02.01/Apple embraces potential of sports streaming with MLS deal.txt new file mode 100644 index 0000000000000000000000000000000000000000..baa1c47932299587e0ecc8c91eb4632120bd96a1 --- /dev/null +++ b/news/AAPL/2023.02.01/Apple embraces potential of sports streaming with MLS deal.txt @@ -0,0 +1 @@ +CUPERTINO, Calif. (AP) — After taking its first dip into sports streaming last year, Apple is now immersing itself.The tech giant kicked off a 10-year partnership with Major League Soccer on Wednesday with the launch of Season Pass on Apple TV+."This is very important for us. It is one of the key things we are doing this year and for the next 10 years. We’re now part of a family together,” Apple CEO Tim Cook said during a presentation for MLS players, owners and media at Apple Park last month.The Apple launch comes after a transformative year for sports and streaming services. The NFL further embraced streaming last year as Prime Video carried “Thursday Night Football” and Major League Baseball partnered with Apple TV and Peacock to stream games. The NFL also reached an agreement with Google’s YouTube TV to carry the “Sunday Ticket” package beginning next season.Tech companies and broadcast outlets likewise see the value of live sports programming. According to a recent report by Parks Associates, revenue from sports streaming subscription packages is expected to increase 73% to $22.6 billion in 2027 after generating $13.1 billion last year.In the era of cord cutting, tech companies, advertisers and sports leagues are also finding that younger viewers continue to migrate toward streaming and are watching for extended periods.According to Amazon tracking data, 22% of “Thursday Night Football” viewers on Prime Video were in the coveted 18-34 age demographic, compared with 14% of viewers watching NFL games on linear networks.The average viewing time for “Thursday Night” games was 85 minutes — nine minutes longer than games not on Prime.Apple teaming with MLS makes sense for both parties. Various studies have found that soccer fans are more likely to watch sports on streaming devices or recorded TV.“This is a deal that expresses where things have been headed for a while and pushes them forward as well,” said Daniel Kirschner, the cofounder and CEO of Greenfly, a digital media distribution platform that works with over 30 leagues.MLS will receive at least $250 million per season from Apple. The league averaged $90 million per season under its previous eight-year agreements with Fox, ESPN and Univision.Apple has made previous forays into sports streaming, but this is its first significant involvement with a league. MLB aired two games on Apple TV+ on Friday nights last year, including the game where St. Louis’ Albert Pujols became the fourth player in baseball history to reach 700 career home runs.This deal could signal where sports streaming and league media rights are headed.Apple and MLS are teaming up for a direct-to-consumer product that will allow fans to watch every game without local blackouts or restrictions and that reaches beyond North America. Fans in London, Paris and wherever the Apple TV app is available will be able to see the games as well.“We’ve looked at sports and acknowledged that there’s never been a better time to be a sports fan, and there’s also never been a worse time to be a sports fan,” said Eddy Cue, Apple’s senior vice president of services. “We have an opportunity with this partnership to make the experience a lot better for fans, and help grow the sport and the league in the US and beyond.”MLS is taking over the production of all its matches, similar to how European soccer leagues do business. But the other leagues, such as the Premier League and Germany’s Bundesliga, then sell their rights to broadcast outlets in each country. In this case, only one outlet — Apple — has worldwide rights.Even games on Fox in the United States, TSN and RDS in Canada and TelevisaUnivision will be on the Apple TV+ app.“I think they were the right league to recognize that the long-term value of their rights is best situated with a streaming partner or a technology partner, as opposed to the traditional leagues that sill need big billions of dollars of payments from traditional networks,” said Jon Cohen, senior vice president at Frequency, which provides software for ad-supported streaming channels. “I think it’s the right time for both to do this.”While Apple TV+ has had success as the first streaming service to receive an Oscar for Best Picture with “CODA” last year and “Ted Lasso” won back-to-back Emmys for Best Comedy, it is not turning into an entertainment company or studio. It remains a diversified company.“Sports drives a lot of engagement in terms of media. I think it shows that they have a very specific strategy with respect to growing their subscription and video services,” Cohen said.MLS and Apple’s progress will be watched closely by other leagues. While the NFL, NHL and baseball have wrapped up rights deals the past two years, the NBA is expected to have some streaming component when it begins negotiations on its media rights this year.Cue and Cook acknowledge there will be growing pains during the first year, especially with MLS getting up to speed with its own production company. Everyone, though, is focused on the potential of the project and the road ahead.“People are going to say we are the smartest guys in the room or we were a couple of years too early,” MLS Commissioner Don Garber said. “The opportunities are endless, but it is an undertaking with many tests.”___Follow Joe Reedy on Twitter at https://twitter.com/joereedy___AP MLS: https://apnews.com/hub/major-league-soccer and https://twitter.com/AP_Sports© 2023 The Canadian Press. All rights reserved., source Canadian Press DataFile \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Apple set to post rare revenue drop as focus shifts to demand rebound.txt b/news/AAPL/2023.02.01/Apple set to post rare revenue drop as focus shifts to demand rebound.txt new file mode 100644 index 0000000000000000000000000000000000000000..a3d85a7c39cc1e9858cd36911121511ac3dd4ca0 --- /dev/null +++ b/news/AAPL/2023.02.01/Apple set to post rare revenue drop as focus shifts to demand rebound.txt @@ -0,0 +1 @@ +Investors will look for details on how Chief Executive Tim Cook is trying to bolster demand in a weak economy that has prompted mass layoffs in the tech industry, a move Apple has so far avoided thanks to frugal hiring during the pandemic. "With supply chain challenges largely normalized, we now believe Apple is entering a period of slower demand due to macro factors," said Cowen analyst Krish Sankar, adding that he expects 2% fewer iPhone units to be sold in 2023.The world's biggest public company is expected to report on Thursday that iPhone sales fell about 5% for the all-important holiday quarter, according to Refinitiv. The last time iPhone sales slipped was in the August-October period in 2020, months into the COVID-19 pandemic.UBS analysts expect iPhone sales to have held up better in the United States than China and Europe, as the economies reeled from the impact of COVID-19 and the Russia-Ukraine war.Some demand for the iPhone will likely be pushed into the current quarter after supply restrictions in the first quarter and some demand lost due to lack of product availability in the holiday period, BofA analyst Wamsi Mohan said.The services business, a key growth engine for the company and home to Apple's music and video streaming services, is set to post its lowest revenue growth for the holiday quarter - another fallout of consumers limiting spending.THE CONTEXTThe disruption at the world's biggest iPhone plant in Zhengzhou, China triggered a rare warning from Apple in November and limited stocks of its higher-end iPhone 14 models during what is typically its biggest sales quarter, powered by product launches and the holidays.Greater China, including Hong Kong, is key to Apple's fortunes, contributing roughly a fifth to annual revenue. The Cupertino, California-based tech behemoth had in 2019 pared its total sales forecast due to an economic slowdown in the country following the Sino-U.S. trade war.Analysts, however, expect a much-faster recovery this time as factories have restarted in China and Apple diversifies its production footprint with plants in India."Commentary from luxury goods companies indicates China is rebounding quickly, which implies Mar-qtr Chinese iPhone sales should be better than expected," Evercore ISI analysts said in a note.FUNDAMENTALS** Revenue estimated to have fallen 2% in the last three months of 2022, Apple's first fiscal quarter. ** IPhone sales likely fell for first time since 2020, while services business rose 6%. ** Analysts expect net income to have dropped 10.4%; earnings per share of $1.94** Apple's shares fell about 27% in 2022 and have gained nearly 10% in JanuaryWALL STREET SENTIMENT ** Since October, analysts have lowered some forecasts on Apple for the first quarter Metric Estimate in Oct. Latest estimate Earnings per $2.13 $1.94 share Revenue $127.88 billion $121.20 billion Gross Margin 42.80% 42.95% iPhone revenue $73.07 billion $68.29 billion Mac revenue $10.28 billion $9.63 billion Services $21.95 billion $20.67 billion revenue Free cash flow $41.50 billion $32.7 billion (Reporting by Nivedita Balu and Akash Sriram in Bengaluru; Editing by Sayantani Ghosh and Sriraj Kalluvila)By Nivedita Balu and Akash Sriram \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Biden moves to slash U.S. credit card fees, app charges.txt b/news/AAPL/2023.02.01/Biden moves to slash U.S. credit card fees, app charges.txt new file mode 100644 index 0000000000000000000000000000000000000000..6678834ea969ce47d3ca963f138604dcce6b678f --- /dev/null +++ b/news/AAPL/2023.02.01/Biden moves to slash U.S. credit card fees, app charges.txt @@ -0,0 +1 @@ +President Joe Biden was also set to urge Congress to ban hidden "junk fees" and penalties that a federal consumer watchdog says are creeping into everyday retail services across industries, driving up consumer costs, including fees airlines charge for family members to sit next to young children, White House officials said.Biden has been beating the drum on inflation, criticizing Republicans who now control the House of Representatives for backing tax measures that he said would benefit the wealthy at the expense of middle-class taxpayers. Biden, who is expected to announce a bid for re-election in the coming weeks, has also been slamming Republicans for their refusal to approve an increase in the U.S. debt ceiling unless there is a deal on spending cuts. Wednesday's announcement coincides with a scheduled meeting between Biden and House Speaker Kevin McCarthy that is likely to mark the start of protracted maneuvering on raising the $31.4 trillion borrowing cap.The Consumer Financial Protection Bureau will propose on Wednesday a rule to ban "excessive" fees that credit card issuers charge for late payments, something the bureau estimated costs consumers $12 billion a year."When someone misses a credit card payment, even if they paid just a day or two late, or even a few hours, they can be hit with a cascading series of fees," CFPB Director Rohit Chopra told reporters in a Tuesday call.Chopra said such fees far exceeded any additional costs that lenders incurred and said the rule would cap a regulatory threshold at $8, a level indicated by CFPB data analysis.Chopra said that after a comment period, the rule could take effect in 2024. However, regulations are frequently subject to challenge and litigation by industry groups that can block or delay them.The National Telecommunications and Information Administration (NTIA), an arm of the Commerce Department, is releasing a report denouncing the market dominance enjoyed by Apple and Google in the app economy, where the vast majority of smartphone users and developers are hemmed inside the tech giants' software ecosystems, which the NTIA said drives up costs and limits innovation.The report calls for greater user control over which applications are available, an end to platform operators' "self-preference" for their own apps, and a ban on requirements that apps use the operators' in-app payments systems.The White House said the Transportation Department on Wednesday will propose regulations to bar airlines from charging family members to be seated next to children age 13 or younger. The department will disclose on a government dashboard which airlines do not charge such fees. Wednesday's announcements will mark the fourth meeting of Biden's Competition Council, created in 2021 when consumer inflation was at 40-year highs and was widely seen as a political headwind ahead of the 2022 midterm elections. (Reporting by Douglas Gillison and David Shepardson; Editing by Leslie Adler)By Douglas Gillison \ No newline at end of file diff --git a/news/AAPL/2023.02.01/EU may miss gigabit target, more investments needed, telecoms group says.txt b/news/AAPL/2023.02.01/EU may miss gigabit target, more investments needed, telecoms group says.txt new file mode 100644 index 0000000000000000000000000000000000000000..777ebec9422b2c8bfb868164f0b4ef2ce54fa34e --- /dev/null +++ b/news/AAPL/2023.02.01/EU may miss gigabit target, more investments needed, telecoms group says.txt @@ -0,0 +1,31 @@ +BRUSSELS, Feb 1 (Reuters) - The European Union risks +missing its target to connect all European households to a +gigabit network by 2030, underscoring the need for more +investments, according to a study commissioned by telecoms +lobbying group ETNO.The study by Analysys Mason comes as the bloc considers the +possibility of getting Alphabet Inc's Google, Meta +, Amazon.com Inc, Netflix , Apple +and Microsoft to bear some of the network +costs.Deutsche Telekom, Orange, Telefonica +, Telecom Italia and their peers say this +should be seen as a fair share contribution from the six content +providers which account for more than half of data internet +traffic.Big Tech sees it as an internet traffic tax at odds with EU +net neutrality rules treating all users equally, saying that +they also invest in their own content delivery networks.Total telecom investment in Europe peaked at 56.3 billion +euros in 2021, the highest since 2016, but still lagged behind +other regions, the report said."Europe continues to trail its peers worldwide in terms of +telecoms investment. Investment per capita adjusted to GDP was +104 euros in Europe in 2021 compared with 260 euros in Japan, +150 euros in the United States and 110 euros in China," the +study said."More investment capacity is needed to accelerate +innovation, but the established current trends place additional +pressure on many operators to sell or separate service and +innovation-related assets," it said.The study also noted the large gap between the returns on +investment for telecoms operators and those for Big Tech."There is an acute discrepancy between the returns on +investment in European telecoms infrastructure and the returns +on investment of the largest services that run over this +infrastructure," it said."When it comes to internet access, it is telecoms operators +that shoulder the investment burden, while in terms of new value +creation it is tech companies that benefit the most." +(Reporting by Foo Yun Chee, Editing by Louise Heavens) \ No newline at end of file diff --git a/news/AAPL/2023.02.01/End of easy-cash era is going to hurt.txt b/news/AAPL/2023.02.01/End of easy-cash era is going to hurt.txt new file mode 100644 index 0000000000000000000000000000000000000000..79a617faba3578dc57c0f2a9f0450deec492b2e0 --- /dev/null +++ b/news/AAPL/2023.02.01/End of easy-cash era is going to hurt.txt @@ -0,0 +1 @@ +U.S. and UK central banks are unwinding stimulus further by offloading bonds they hold, and the European Central Bank will join them soon. Nomura estimates the balance sheets of the three banks will shrink by $3 trillion this year.Graphic: Bloated central bank balance sheets start to shrink https://www.reuters.com/graphics/GLOBAL-MARKETS/znpnbkeaypl/chart.pngTech stocks and crypto currencies look vulnerable. They are among risky assets that soared as cash pumped out by central banks fighting weak inflation in recent years searched for a home."When you have unprecedented monetary tightening, the likelihood is that you get issues that are uncovered - that might be something hidden such as liquidity or something more obvious like pressures in the housing market," said Zurich Insurance Group chief market strategist Guy Miller. We look at some potential pressure points.1/ DARLINGS NO MORE Once darlings of the easy-cash era, tech stocks are being shunned by many investors even after a January bounce as higher rates make it more expensive to take punts on the potential earnings growth of early stage or speculative businesses.When economic uncertainty is high, investors often look for reliable returns from dividends to safeguard portfolios. That makes the likes of tech stalwarts such as Apple, whose shares trade on a dividend yield of less than 1%, look vulnerable. "We're at a stage where very elevated valuations in markets have collided with much less supportive policy," said James Harries, senior fund manager at Troy Asset Management. "So, the outlook is darkening."Tech firms are reversing pandemic-era exuberance, cutting jobs after years of hiring sprees. Google owner Alphabet plans to axe about 12,000 workers; Microsoft, Amazon and Meta are firing almost 40,000. Graphic: Big tech's earnings growth put to the test https://www.reuters.com/graphics/GLOBAL-MARKETS/mypmogzgmpr/chart.png 2/ DEFAULT RISKSConcerns about corporate defaults are mounting as rates rise, although recession worries have eased.S&P Global said Europe had the second-highest default count last year since 2009. It expects U.S. and European default rates to reach 3.75% and 3.25%, respectively, in September 2023 versus 1.6% and 1.4% a year before, with pessimistic forecasts of 6.0% and 5.5% not "out of the question."Man GLG portfolio manager Michael Scott said markets have not fully priced in the risk of higher defaults. Graphic: Corporate default rate may double in 2023 https://www.reuters.com/graphics/GLOBAL-STRESS/dwpkdegzdvm/chart.png3/ GOING PRIVATEPrivate debt markets have ballooned since the financial crisis to $1.4 trillion from $250 billion in 2010.The largely floating-rate nature of the financing appeals to investors, who can reap returns in high single to low double digits, and became popular as plunging rates post-2008 boosted risk assets.Now, a reality check: higher rates imply a heavier burden for companies as recession looms, casting a shadow over their ability to generate sufficient cash to pay ballooning interest costs."What surprises me is that you're almost back to complacency," said Will Nicole, CIO of Private and Alternative Assets at M&G Investments. "We've gone from a position where three months ago everybody was talking about a credit cycle coming through for the first time in decades and now people appear to have forgotten that." Graphic: Direct lending stellar growth https://www.reuters.com/graphics/GLOBAL-CREDIT/PRIVATE/lbpgggwlnpq/chart.png4/CRYPTO WINTER Rising borrowing costs roiled crypto markets in 2022. The price of bitcoin plunged 64% and around $1.3 trillion was wiped off the global cryptocurrency market cap.Bitcoin has rallied recently but caution remains. The collapse of various dominant crypto companies, most notably FTX, left investors shouldering large losses and prompted calls for more regulation.January brought a fresh wave of job cuts as firms brace for the so-called crypto winter, while the lending unit of Genesis recently filed for U.S. bankruptcy protection, owing creditors at least $3.4 billion. Graphic: Pain in crypto land https://www.reuters.com/graphics/GLOBAL-MARKETS/lgpdknmayvo/chart.png5/FOR SALEReal estate markets, first responders to rate hikes, started cracking last year and 2023 will be tough with U.S. house prices expected to drop 12%.Fund managers surveyed by BofA see China's troubled real estate sector as the second most likely source of a credit event. European real estate is reporting distress levels not seen since 2012, according to data from law firm Weil, Gotshal & Manges.How the sector services its debt is in focus and officials warn European banks risk significant profit hits from sliding house prices.Real estate investment management firm AEW estimates the UK, France and Germany could face a 24 billion euro debt funding gap through 2025. Luckily, bank balance sheets are better positioned to absorb losses, so few expect a 2008 repeat. Graphic: Distress in Europe's real estate sector rises https://www.reuters.com/graphics/GLOBAL-STRESS/byprlryzbpe/chart.png($1 = 0.9192 euros) (Reporting by Chiara Elisei, Dhara Ranasinghe, Naomi Rovnick, Elizabeth Howcroft and Yoruk Bahceli; Graphics by Kripa Jayaram and Vincent Flasseur; Editing by Dhara Ranasinghe and Christina Fincher) \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Exclusive-EU may miss gigabit target, more investments needed, telcoms group says.txt b/news/AAPL/2023.02.01/Exclusive-EU may miss gigabit target, more investments needed, telcoms group says.txt new file mode 100644 index 0000000000000000000000000000000000000000..553f92efc4beeed5fb6168b856beaa5fb4d0015f --- /dev/null +++ b/news/AAPL/2023.02.01/Exclusive-EU may miss gigabit target, more investments needed, telcoms group says.txt @@ -0,0 +1 @@ +BRUSSELS (Reuters) - The European Union risks missing its target to connect all European households to a gigabit network by 2030, underscoring the need for more investments, according to a study commissioned by telecoms lobbying group ETNO.The study by Analysys Mason comes as the bloc considers the possibility of getting Alphabet Inc's Google, Meta, Amazon.com Inc, Netflix , Apple and Microsoft to bear some of the network costs.Deutsche Telekom, Orange, Telefonica, Telecom Italia and their peers say this should be seen as a fair share contribution from the six content providers which account for more than half of data internet traffic. (Reporting by Foo Yun Chee, Editing by Louise Heavens)By Foo Yun Chee \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Marketmind: A quart and two halves.txt b/news/AAPL/2023.02.01/Marketmind: A quart and two halves.txt new file mode 100644 index 0000000000000000000000000000000000000000..5ea19f042b35e480915c81e769d2777ac63a09bd --- /dev/null +++ b/news/AAPL/2023.02.01/Marketmind: A quart and two halves.txt @@ -0,0 +1 @@ +After a heady January brew, investors now see triples all round.Global stock markets put in their best January in four years, with Wall St's tech-heavy Nasdaq clocking its biggest January gains since 2001, but now face three tense days to assess how durable that is.On the radar are three interest rate rises from G4 central banks over the next 26 hours, a mega cap earnings barrage from Apple, Amazon and Alphabet later on Thursday and then the U.S. January jobs report to round out a frenetic week. February kicked off on Wednesday without too much trepidation about how all that will pan out. Asia and European bourses pushed higher despite a mixed bag of economic news, but S&P500 futures did slip into the red ahead of Wall St's open. Softer U.S. Treasury yields were calm and collected, the dollar easier and volatility gauges relatively serene. An expected quarter-point interest rate rise from the U.S. Federal Reserve later on Wednesday would ruffle few feathers as long as the central bank doesn't feel the need to accompany its slowing of the rate hikes with a harsh steer against market pricing for rate cuts later in the year.Half-point rate rises from the European Central Bank and Bank of England are now the best guess, although dire economic readouts from Britain's ailing economy this year may mean the risk to that consensus is that a split BoE council opts for a smaller move. News that euro zone headline inflation fell much faster than forecast last month to 8.5% - its lowest since last May - will also take some pressure off the ECB, even if stickier 'core' inflation means a half-point point move is still the most likely outcome this week.U.S. markets were also enthused by disinflation signals on Tuesday as data showed U.S. labor costs increasing at their slowest pace in a year in the fourth quarter while wage growth slowed.That was a major relief for those worried about the persistent tightness in the U.S. jobs markets - one reason the Fed may continue to sound hawkish later on Wednesday and why Friday's payrolls update is even more important than usual.Before the Fed announcement, ADP releases its January private sector employment readout for last month and markets will also scan the December JOLTS job openings report.In Asia, surveys showed the contraction in China's business activity easing in January as the country opens up again after strict COVID lockdowns. The speed of the pickup disappointed some, however, and may in itself cool fears about the inflationary impact of China's sudden return to business as usual. India's government unveiled one of its biggest jumps in capital spending in the past decade in its annual budget and said the fiscal deficit would fall, as it tries to create jobs while maintaining financial discipline.The news was less good for one of India's richest citizens.Shares in tycoon Gautam Adani's conglomerate plunged again on Wednesday as a rout in his companies deepened to $84 billion in the wake of a U.S. short-seller report, with the billionaire also losing his title as Asia's richest person. While markets await the 'Triple-A' of Big Tech releases on Thursday, Meta is due to report later today and the dour news from elsewhere in the tech sector kept coming.Overnight, Snap said current quarter revenue could decline by as much as 10%, sending its shares down 14% as the company struggles with weak advertising demand.Intel said it had made broad cuts to employee and executive pay, a week after the company issued a lower-than-expected sales forecast driven by a loss of market share to rivals and a PC market downturn. Key developments that may provide direction to U.S. markets later on Wednesday: * U.S. Federal Reserve policy decision, press conference with Fed Chair Jerome Powell* US Jan ISM manufacturing survey, ADP Jan private sector job report, Dec JOLTS job openings report * U.S. corp earnings: Meta Platforms, MetLife, Mckesson, Boston Scientific, Otis Worldwide, Old Dominion, Align Technology, Corteva, Thermo Fisher Scientific, Altria, Humana, Peleton etc (By Mike Dolan, editing by Raissa Kasolowsky mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Marketmind: Markets go all in for disinflation.txt b/news/AAPL/2023.02.01/Marketmind: Markets go all in for disinflation.txt new file mode 100644 index 0000000000000000000000000000000000000000..af6a850d8b2831b2b3306fe50fb2a5f1865feda2 --- /dev/null +++ b/news/AAPL/2023.02.01/Marketmind: Markets go all in for disinflation.txt @@ -0,0 +1 @@ +Push back? What push back? The main theme ahead of the Fed announcement was that Chair Jerome Powell would definitely, totally, absolutely push back against the recent rapid easing in market conditions given inflation was still sky high.Instead, Powell seemed to go out of his way to do the opposite. The very first question in the new conference invited him to scold markets, and he notes conditions had tightened a lot last year.Given another opportunity, he says he's "not particularly concerned" about market pricing, and later "I'm not going to try to persuade people that have a different forecast" on inflation and policy.Yes there were caveats about it being too early to declare victory and policy will need to be more restrictive. But even then he was blase about another "couple of hikes", and spent more time trying out his new favourite word "disinflation".A pdf search of the conference shows disinflation or disinflationary was used 13 times, compared to twice at his December event. For sure, service inflation had yet to turn the corner, but he expected to see that "fairly soon."For markets, this is like stealing the last cookie in the cookie jar, getting caught red handed, and, instead of a good spanking, you get another cookie, with chocolate on. So of course Treasuries rallied, with 10s down 9bp and 2s 10bp in the wake of the conference and a bit more in Asia. Next targets are the Jan lows at 3.321% and 4.04%.Fed funds partied by pricing in more rate cuts with Fed funds seen at 4.40% by end 2023 and 3.0% by the close of 2024.The euro jumped to a 10-month peak of $1.1034 and could go further if ECB chief Christine Lagarde sounds as hawkish as everyone seems to expect after today's policy meeting.The market is almost fully priced for a hike of 50bp and the promise of more to come, though it was notable that Euribor rallied overnight to imply deeper cuts next year.The ECB is also set to reveal how exactly it plans to reduce the multi-trillion euro stock of bonds on its balance sheet.Across the Channel, the Bank of England is also seen hiking 50bp today, though with some outside risk of 25bp.The following media conference by Governor Andrew Bailey and colleagues is likely to be a tough one, assuming they can even get to it given all the strikes. The IMF, and many others, are predicting recession but inflation is at 10.5% and wage growth running red hot - good luck squaring that circle.For Wall Street, it's a massive earnings day and Meta helped overnight by announcing a $40 billion buy-back that sent its shares up 18%.Healthcare companies BristolMeyers-Squibb Co, Eli Lilly and Co and Merck & Co are due to report before trading commences on Wall Street. The heavy-hitting trifecta of Apple Inc, Amazon.com and Alphabet Inc are after the bell.Key developments that could influence markets on Thursday:- BoE rate decision is at 1200 GMT and the ECB at 1315 GMT. BoE Gov Bailey speaks to reporters at 1230 GMT and ECB President Lagarde at 1345 GMT. (Reporting by Wayne Cole; Editing by Stephen Coates)By Wayne Cole \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Marketmind: Riding the Fed dragon.txt b/news/AAPL/2023.02.01/Marketmind: Riding the Fed dragon.txt new file mode 100644 index 0000000000000000000000000000000000000000..b49b3448571c32affa388981661375bbe43b9edd --- /dev/null +++ b/news/AAPL/2023.02.01/Marketmind: Riding the Fed dragon.txt @@ -0,0 +1 @@ +Asian markets are set for an upbeat Thursday as U.S. stocks whipsawed to a higher close after the Federal Reserve delivered an expected 25 basis point interest rate hike and warned it still expects 'ongoing increases' as it battles inflation.All three major U.S. stock indexes reversed earlier losses to sail across the finish line in positive territory, under assurances from Fed Chairman Jerome Powell that he believes price growth can be tamed "without a significant economic decline."In his remarks and Q&A session following the policy decision, Powell said "there's more work to do," before its goals are met, but acknowledged data shows inflation is beginning to cool."The door is cracking open to end rate hikes, but they still have a chance for one more rate hike at the next meeting," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "Inflation data continues to show major improvements, which is exactly what the Fed needs to take their foot off the pedal."The European Central Bank and the Bank of England are expected to hike their key interest rates by 50 basis points on Thursday.On the economic front, restrictive central bank policies appear to be dampening factory activity, with purchasing managers' indexes around the world either in contraction or struggling to expand.Fourth-quarter earnings season is running on all cylinders, with 190 of the companies in the S&P 500 having reported already. Of those, 69% have delivered consensus-beating profits, according to Refinitiv.Shares of Meta Platforms Inc jumped more than 18% in extended trading after the social media bellwether forecast first-quarter revenue above Wall Street estimates, signaling a rebound in demand for digital ads after months of weak sales.Healthcare companies BristolMeyers-Squibb Co, Eli Lilly and Co and Merck & Co are due to report before trading commences on Wall Street on Thursday, with the heavy-hitting triple play of Apple Inc, Amazon.com and Alphabet Inc expected after the session ends.Elsewhere, the U.S. dollar lost ground against a basket of world currencies, while crude prices settled sharply lower due to a buildup of U.S. oil stocks.Here are some key developments that could provide more direction to markets on Thursday:- South Korea releases CPI inflation data (Jan)- Australia posts building approvals (Dec)- U.S. planned layoffs (Jan), weekly jobless claims land before the opening bell, factory orders (Dec) shortly after (Reporting by Stephen Culp; Editing by Deepa Babington)By Stephen Culp \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Meta stuns Street with lower costs, big buyback, upbeat sales.txt b/news/AAPL/2023.02.01/Meta stuns Street with lower costs, big buyback, upbeat sales.txt new file mode 100644 index 0000000000000000000000000000000000000000..287e985e84f29d0613d2ba383e41ce82d1865ca6 --- /dev/null +++ b/news/AAPL/2023.02.01/Meta stuns Street with lower costs, big buyback, upbeat sales.txt @@ -0,0 +1,61 @@ +Feb 1 (Reuters) - Meta Platforms Inc's stricter +cost controls this year and a new $40 billion share buyback sent +shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 +the "Year of Efficiency."The parent of Instagram and Facebook, which has fallen on +hard times amid a broad post-pandemic slump in digital ads, is +focused on improving its content recommendations powered by +artificial intelligence and its ad targeting systems to keep +users clicking.Meanwhile, it will cut costs in 2023 by $5 billion to a +range of $89 billion to $95 billion, a steep drop from the $94 +billion to $100 billion it previously forecast, and it projected +first-quarter sales that could beat Wall Street estimates.Meta stock surged nearly 19% in after-hours trade. If gains +hold on Thursday, it would set up the shares for their biggest +intraday surge in a decade and added more than $75.5 billion to +its existing $401 billion market capitalization.Zuckerberg described the focus on efficiency as part of the +natural evolution of the company, calling it a "phase change" +for an organization that once lived by the motto "move fast and +break things.""We just grew so quickly for like the first 18 years," +Zuckerberg said in a conference call. "It's very hard to really +crank on efficiency while you're growing that quickly. I just +think we're in a different environment now."The cost cuts reflect Meta's updated plans for lower +data-center construction expenses this year as part of a shift +to a structure that can support both AI and non-AI work, it said +in a statement.The digital ad giant faced a brutal 2022 as companies cut +back on marketing spending due to economic worries, while rivals +like TikTok captured younger users and Apple Inc's +privacy updates continued to challenge the business of placing +targeted ads.Meta in November cut more than 11,000 jobs in response, a +precursor to the tens of thousands of layoffs in the tech +industry that followed."Our management theme for 2023 is the 'Year of Efficiency' +and we're focused on becoming a stronger and more nimble +organization," Zuckerberg said in a statement.Monetization efficiency for Reels on Facebook, a short-form +video format, had doubled in the past six months and the +business was on track to roughly break even by the end of 2023 +or early 2024 and grow profitably after that, he said on the +conference call.INVESTMENTS STARTING TO PAY OFF"Meta's better-than-feared results should refute concerns +over the state of the digital advertising industry following +Snap's horrible guidance earlier this week," said Jesse Cohen, +senior analyst at Investing.com."Despite all the challenges Meta must deal with, there are +signs the business is still doing well," Cohen said.Shares of peer Alphabet Inc were up 3.3% while +Snap Inc stock rose 1% in after-hours trade on +Wednesday.On the conference call, executives said Meta's +investments in AI-surfaced content and TikTok competitor Reels +were starting to pay off. The company also has been using AI to +increase automation for advertisers and target ads using less +personal data, resulting in higher return on ad spend.Meta forecast first-quarter revenue between $26 billion +and $28.5 billion. That was in with analysts' average estimates +of $27.14 billion, according to Refinitiv.Zuckerberg said generative AI - technology for producing +original prose, imagery or computer code on command - would be +the company's other big theme for this year, alongside +efficiency.Meta was planning to launch several new products that +would "empower creators to be way more productive and creative," +he said, while cautioning about the cost associated with +supporting the technology for a large user base.However, net income for the fourth quarter ended Dec. 31 +fell to $4.65 billion, or $1.76 per share, compared with $10.29 +billion, or $3.67 per share, a year earlier. Analysts had +expected a profit of $2.22 per share.The decline was largely due to a $4.2 billion charge related +to cost-cutting moves such as layoffs, office closures and the +data center strategy overhaul.The company previously said it was planning to account for +much of that cost in 2023.(Reporting by Nivedita Balu in Bengaluru, Katie Paul in New +York, Sheila Dang in Dallas and Sayantani Ghosh in San +Francisco; Editing by Matthew Lewis and Bradley Perrett) \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Samsung's newest Galaxy S smartphones a test of brand power in weak market.txt b/news/AAPL/2023.02.01/Samsung's newest Galaxy S smartphones a test of brand power in weak market.txt new file mode 100644 index 0000000000000000000000000000000000000000..912e4f0e920917e6e02296e270958cde4c8cda93 --- /dev/null +++ b/news/AAPL/2023.02.01/Samsung's newest Galaxy S smartphones a test of brand power in weak market.txt @@ -0,0 +1 @@ +The Galaxy S23 smartphone series has better cameras and faster chips than its predecessor, but analysts said early sales would face weak demand as consumers spent less on discretionary goods amid surging inflation. The top-line S23 Ultra has Samsung's first-ever 200-megapixel camera sensor, offering clearer photos after enlargement, and the series has adopted Qualcomm's Snapdragon 8 Gen 2 mobile processor, which is faster than chips used in the S22. The S23 is the first Samsung phone to use Nvidia's GeForce RTX 4070 graphics card for games with heavy processor demands and for live-streaming playability. Many consumers judge a phone's quality based on those functions. Samsung is working with companies such as Epic Games to optimise gaming experience on the phone. In the United States, the base Galaxy S23 will be priced from $799 and two higher-specification versions, the S23 Plus and S23 Ultra, from $999 and $1,199, respectively. Samsung kept the prices at the same level as for last year's model despite rises in component costs.But global smartphone shipments showed the largest-ever decline in a single quarter in the October-December period, when they were down 18.3% on a year earlier at 300.3 million units, according to data issued by research firm IDC last month. The figures cast doubt on forecasts for modest recovery in the market for mobiles this year.In that tough environment, analysts said Samsung's mobile strategy would centre on profitability through premium offerings, including the S series and foldables. "Samsung can't afford to focus on expanding volume anymore," said Liz Lee, associate director at research firm Counterpoint. "It must boldly simplify low- and mid-range products, the parts of the market where Chinese competitors have caught up a lot." Samsung said on Tuesday that a decline in low- and mid-range smartphone sales in the fourth quarter had been greater than expected.With the launch of the S23, the company is also improving interconnectivity of its devices to lock customers into using Samsung products rather than deserting to devices from Apple and other rivals. Analysts say Samsung has far to go in interconnectivity, however. The company said that, in an industry first, the mouse cursor of its recent Galaxy Book laptop could move directly into a Samsung phone screen to click on things. Users would have to upgrade their phone's software to use that feature, it said. (Reporting by Joyce Lee; Editing by Bradley Perrett)By Joyce Lee \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Snap's earnings may hold positive news for Meta, Google -analysts.txt b/news/AAPL/2023.02.01/Snap's earnings may hold positive news for Meta, Google -analysts.txt new file mode 100644 index 0000000000000000000000000000000000000000..18c99ae5bc6f6b5b39d85e96dbb7a9960ed1c9cb --- /dev/null +++ b/news/AAPL/2023.02.01/Snap's earnings may hold positive news for Meta, Google -analysts.txt @@ -0,0 +1 @@ +Snap said its direct response business geared towards driving product sales or website visits rose 4% in October-December. But, revenue from brand advertising, aimed at promoting a brand's image, declined 11%, the company said in its quarterly earnings report on Tuesday.That could "be viewed as a healthy sign for Meta and Google," whose businesses are tuned to direct response advertisers, said Mark Shmulik, senior analyst at research firm Bernstein. Alphabet's Google, the world's largest digital advertising platform, has long fared better than other ad-dependent companies because brands consider ads on Google searches crucial to driving website visits or other consumer actions. Similarly, Meta has said in previous quarters that the bulk of its revenue comes from direct response advertising. Facebook and Instagram reach billions of users, turning them a key part of the marketing strategies of many brands. "Snap is impacted by the reality that it has significant brand advertising exposure (which is getting hit harder than direct response)," said Evercore ISI analyst Mark Mahaney.Headwinds for Meta and Google could be notably less severe, he added.Snap's shares slumped 14% on Tuesday after it projected a decline in current-quarter revenue by as much as 10%. The shares extended the losses on Wednesday, falling about 15% premarket. The weak outlook pulled down the shares of rivals Meta, Google, and Pinterest, which also earns revenue by selling digital advertising, on Tuesday.Analysts expect Meta to report a 6.5% fall in December quarter revenue when it reports results on Wednesday, according to Refinitiv, its third consecutive quarter of decline. Alphabet will report results on Thursday, and analysts expect revenue to be unchanged from a year earlier.Snap's challenges, including privacy changes on Apple Inc devices that have made it harder for marketers to collect data, are not unique to the company. But it has the "added challenge of a being a small player," said Jasmine Enberg, principal analyst at Insider Intelligence."Advertisers are turning to tried and true platforms." (Reporting by Sheila Dang in Dallas and Nivedita Balu in Bengaluru; Editing by Dhanya Ann Thoppil)By Sheila Dang and Nivedita Balu \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Stocks rally, dollar slumps after Fed statement, Powell remarks.txt b/news/AAPL/2023.02.01/Stocks rally, dollar slumps after Fed statement, Powell remarks.txt new file mode 100644 index 0000000000000000000000000000000000000000..876b92ab333ac5d06857548fdaff74383a60e2d1 --- /dev/null +++ b/news/AAPL/2023.02.01/Stocks rally, dollar slumps after Fed statement, Powell remarks.txt @@ -0,0 +1,57 @@ +*ADP employment softer than expected*Fed hikes by 25 basis points*Powell acknowledges disinflation process has startedNEW YORK, Feb 1 (Reuters) - A gauge of global stocks +rallied and the U.S. dollar slumped on Wednesday after the +Federal Reserve raised its target interest rate by the expected +25 basis points but comments from Chair Jerome Powell were +interpreted as dovish by the market.The Fed said the U.S. economy was enjoying "modest growth" +and "robust" job gains, with policymakers still "highly +attentive to inflation risks" as it seeks to tighten financial +conditions and reign in high prices. Markets have been pricing +in the possibility of a rate cut by the Fed in the back half of +the year.On Wall Street, U.S. stocks were choppy after the Fed +announcement but began to rally after Chair Jerome Powell +acknowledged inflation was starting to ease and the +disinflationary process was at an early stage."The market’s reaction implies investors feel we are much +closer to the end than we are, let’s say, to the middle of the +rate tightening cycle," said Sam Stovall chief investment +strategist at CFRA in New York."You certainly need disinflation in order to get down to +your inflationary target and even though he did say multiple +times that we are not yet at a sufficiently restrictive policy +stance to bring inflation back down to 2%, the other statements +implied that we are getting pretty close."The Dow Jones Industrial Average rose 6.92 points, or +0.02%, to 34,092.96, the S&P 500 gained 42.61 points, or +1.05%, to 4,119.21 and the Nasdaq Composite added 231.77 +points, or 2%, to 11,816.32.The gains sent the S&P 500 to its highest close since August +25.Before the policy announcement, economic data painted a +mixed picture, with a labor market that remains strong while +manufacturing activity continues to weaken, showing contraction +for a third straight month.Investors have viewed a weaker labor market as a key +component to bring down stubbornly high inflation.Earnings season with earnings from names such as Apple +and Amazon are due on Thursday.Early gains for European shares faded to close virtually +unchanged ahead of the Fed statement, although industrial stocks +, up 0.85%, were a bright spot. On the heels of the Fed, +the European Central Bank (ECB) and Bank of England will make +their policy statements on Thursday, in which each is largely +expected to hike by 50 basis points.The pan-European STOXX 600 index closed down 0.03% +and MSCI's gauge of stocks across the globe +gained 1.08%. MSCI's index hit its highest intraday level since +August 17 and was poised for its biggest one-day percentage gain +since Jan 20.Data on Wednesday showed headline inflation in the euro zone +moderated to 8.5% in January, from 9% in December, while core +prices picked up to 7% from 6.9%, likely keeping pressure on the +ECB to raise interest rates aggressively.The dollar started February on a lower note, continuing its +weakening trajectory of the previous four months, losing further +ground after Powell's comments, hitting its lowest level since +late April. The dollar index fell 0.901%, with the euro +up 1.11% to $1.0983.The Japanese yen strengthened 0.83% versus the greenback at +129.02 per dollar, while Sterling was last trading at +$1.2371, up 0.41% on the day.U.S. Treasury yields initially moved up after the statement +but reversed course and mostly fell after Powell's comments were +still lower on the day, as benchmark 10-year notes +were down 10.5 basis points to 3.424%, from 3.529% late on +Tuesday, although the two-year yield briefly turned higher after +the most recent batch of economic data.Despite the drop in the dollar, U.S. crude settled +down 3.12% to $$76.41 per barrel and Brent settled at +$82.84, 3.07% lower on the day after U.S. government data showed +big builds in inventories while OPEC and its allies kept to +their output policy.(Reporting by Chuck Mikolajczak; editing by Jonathan Oatis and +Diane Craft) \ No newline at end of file diff --git a/news/AAPL/2023.02.01/Stocks rise, dollar falls after Fed hikes as expected.txt b/news/AAPL/2023.02.01/Stocks rise, dollar falls after Fed hikes as expected.txt new file mode 100644 index 0000000000000000000000000000000000000000..22f1381a0ee4e174312ab633750a673247834a43 --- /dev/null +++ b/news/AAPL/2023.02.01/Stocks rise, dollar falls after Fed hikes as expected.txt @@ -0,0 +1,54 @@ +*ADP employment softer than expected*Fed hikes by 25 basis pointsNEW YORK, Feb 1 (Reuters) - A gauge of global stocks +rose and the U.S. dollar and Treasury yields were lower on +Wednesday after the Federal Reserve raised its target interest +rate by the expected 25 basis points but communicated more +increases were on the horizon.The Fed said the U.S. economy was enjoying "modest growth" +and "robust" job gains, with policymakers still "highly +attentive to inflation risks" as it seeks to tighten financial +conditions and reign in high prices. Markets have been pricing +in the possibility of a rate cut by the Fed in the back half of +the year.On Wall Street, U.S. stocks were choppy after the Fed +announcement but rebounded to turn positive as Chair Jerome +Powell began to speak."The key thing the Fed is focused on is wages and we are +seeing wage inflation continue to ameliorate if you look at both +average hourly earnings and the employment cost index which just +came out, wages are beginning to soften, but they are not +softening enough to get inflation down to that 2% target," said +Ellen Hazen, chief market strategist at F.L.Putnam Investment +Management in Wellesley, Massachusetts."They had a very slightly dovish change in the language +where they previously had talked about determining the pace of +future increases and now they are talking about determining the +extent of future increases."Investors will now closely eye comments from Fed Chair +Powell for further signals on the path of the central bank's +policy.The Dow Jones Industrial Average fell 5.45 points, or +0.02%, to 34,080.59, the S&P 500 gained 30.83 points, or +0.76%, to 4,107.43 and the Nasdaq Composite added 173.22 +points, or 1.5%, to 11,757.77.Before the policy announcement, economic data painted a +mixed picture, with a labor market that remains strong while +manufacturing activity continues to weaken, showing contraction +for a third straight month.Investors have viewed a weaker labor market as a key +component to bring down stubbornly high inflation.Earnings season also continues to roll on, with Facebook +owner Meta reporting earnings after the closing bell on +Wednesday. Later in the week will bring earnings from names such +as Apple and Amazon.Early gains for European shares faded to close virtually +unchanged ahead of the Fed statement, although industrial stocks +, up 0.85%, were a bright spot. On the heels of the Fed, +the European Central Bank (ECB) and Bank of England will make +their policy statements on Thursday, in which each is largely +expected to hike by 50 basis points.The pan-European STOXX 600 index closed down 0.03% +and MSCI's gauge of stocks across the globe +gained 0.81%.Data on Wednesday showed headline inflation in the euro zone +moderated to 8.5% in January, from 9% in December, while core +prices picked up to 7% from 6.9%, likely keeping pressure on the +ECB to raise interest rates aggressively.The dollar started February on a lower note, continuing its +weakening trajectory of the previous four months. The dollar +index fell 0.823%, with the euro up 0.99% to +$1.097.The Japanese yen strengthened 0.94% versus the greenback at +128.89 per dollar, while Sterling was last trading at +$1.2378, up 0.47% on the day.U.S. Treasury yields moved up after the statement but were +still lower on the day, as benchmark 10-year notes +were down 11.6 basis points to 3.413%, from 3.529% late on +Tuesday, although the two-year yield briefly turned higher after +the most recent batch of economic data.U.S. crude recently fell 2.93% to $76.56 per barrel +and Brent was at $82.91, down 2.98% on the day.(Reporting by Chuck Mikolajczak; editing by Jonathan Oatis and +Diane Craft) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Apple : Fiscal Q1 Earnings Snapshot.txt b/news/AAPL/2023.02.02/Apple : Fiscal Q1 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..341149970b8caec6c248743ec214970288983eef --- /dev/null +++ b/news/AAPL/2023.02.02/Apple : Fiscal Q1 Earnings Snapshot.txt @@ -0,0 +1 @@ +CUPERTINO, Calif. (AP) _ Apple Inc. (AAPL) on Thursday reported fiscal first-quarter net income of $30 billion.The Cupertino, California-based company said it had profit of $1.88 per share.The results fell short of Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.93 per share.The maker of iPhones, iPads and other products posted revenue of $117.15 billion in the period, which also fell short of Street forecasts. Ten analysts surveyed by Zacks expected $121.21 billion.Apple shares have risen 16% since the beginning of the year, while the S&P's 500 index has climbed almost 9%. In the final minutes of trading on Thursday, shares hit $150.82, a drop of 14% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAPL at https://www.zacks.com/ap/AAPLCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git "a/news/AAPL/2023.02.02/Apple expects 5% impact from foreign exchange rates in fiscal q2\342\200\246.txt" "b/news/AAPL/2023.02.02/Apple expects 5% impact from foreign exchange rates in fiscal q2\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..02eb21ba9a1b23174e0f1a44c737b83e25f42fec --- /dev/null +++ "b/news/AAPL/2023.02.02/Apple expects 5% impact from foreign exchange rates in fiscal q2\342\200\246.txt" @@ -0,0 +1 @@ +APPLE EXPECTS 5% IMPACT FROM FOREIGN EXCHANGE RATES IN FISCAL Q2 \ No newline at end of file diff --git "a/news/AAPL/2023.02.02/Apple expects gross margins between 43.5% and 44.5% in fiscal q2\342\200\246.txt" "b/news/AAPL/2023.02.02/Apple expects gross margins between 43.5% and 44.5% in fiscal q2\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..9908e815b3712ccc4baef1f1533c397b8f71a0fd --- /dev/null +++ "b/news/AAPL/2023.02.02/Apple expects gross margins between 43.5% and 44.5% in fiscal q2\342\200\246.txt" @@ -0,0 +1 @@ +APPLE EXPECTS GROSS MARGINS BETWEEN 43.5% AND 44.5% IN FISCAL Q2 - CONF CALL \ No newline at end of file diff --git "a/news/AAPL/2023.02.02/Apple expects iphone revenue growth to accelerate in fiscal q2 c\342\200\246.txt" "b/news/AAPL/2023.02.02/Apple expects iphone revenue growth to accelerate in fiscal q2 c\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..5d840e12e20156adeb6d0781a41ca34c82502172 --- /dev/null +++ "b/news/AAPL/2023.02.02/Apple expects iphone revenue growth to accelerate in fiscal q2 c\342\200\246.txt" @@ -0,0 +1 @@ +APPLE EXPECTS IPHONE REVENUE GROWTH TO ACCELERATE IN FISCAL Q2 COMPARED TO FISCAL Q1 - CONF CALL \ No newline at end of file diff --git "a/news/AAPL/2023.02.02/Apple foreign exchange headwind in fiscal q1 was 8% versus expec\342\200\246.txt" "b/news/AAPL/2023.02.02/Apple foreign exchange headwind in fiscal q1 was 8% versus expec\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..cbc2a2479ff586014b67a553f3abd170595fc37b --- /dev/null +++ "b/news/AAPL/2023.02.02/Apple foreign exchange headwind in fiscal q1 was 8% versus expec\342\200\246.txt" @@ -0,0 +1 @@ +APPLE FOREIGN EXCHANGE HEADWIND IN FISCAL Q1 WAS 8% VERSUS EXPECTED 10% - CEO COOK \ No newline at end of file diff --git "a/news/AAPL/2023.02.02/Apple inc - apple says fiscal q2 revenue growth will be higher t\342\200\246.txt" "b/news/AAPL/2023.02.02/Apple inc - apple says fiscal q2 revenue growth will be higher t\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..bb7067f7e9a4a9d2bc1a7f51f0584257f2551a37 --- /dev/null +++ "b/news/AAPL/2023.02.02/Apple inc - apple says fiscal q2 revenue growth will be higher t\342\200\246.txt" @@ -0,0 +1 @@ +APPLE INC - APPLE SAYS FISCAL Q2 REVENUE GROWTH WILL BE HIGHER THAN PREVIOUS YEAR - CONF CALL \ No newline at end of file diff --git "a/news/AAPL/2023.02.02/Apple now has 935 million paid subscribers - ceo cook\342\200\246.txt" "b/news/AAPL/2023.02.02/Apple now has 935 million paid subscribers - ceo cook\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..81fd28852eb9cf570531f0983aca2a92247a43fd --- /dev/null +++ "b/news/AAPL/2023.02.02/Apple now has 935 million paid subscribers - ceo cook\342\200\246.txt" @@ -0,0 +1 @@ +APPLE NOW HAS 935 MILLION PAID SUBSCRIBERS - CEO COOK \ No newline at end of file diff --git "a/news/AAPL/2023.02.02/Apple production is 'now back where we want it to be' - ceo cook\342\200\246.txt" "b/news/AAPL/2023.02.02/Apple production is 'now back where we want it to be' - ceo cook\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..dd40efcc30209205398d2c3adadf4da52f96c048 --- /dev/null +++ "b/news/AAPL/2023.02.02/Apple production is 'now back where we want it to be' - ceo cook\342\200\246.txt" @@ -0,0 +1 @@ +APPLE PRODUCTION IS 'NOW BACK WHERE WE WANT IT TO BE' - CEO COOK \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Apple reports first quarter results.txt b/news/AAPL/2023.02.02/Apple reports first quarter results.txt new file mode 100644 index 0000000000000000000000000000000000000000..6f9c53e893195d8ea55fe13d5ac196a1f4948807 --- /dev/null +++ b/news/AAPL/2023.02.02/Apple reports first quarter results.txt @@ -0,0 +1,1723 @@ + +Apple® today announced financial results for its fiscal 2023 first quarter ended December 31, 2022. The Company posted quarterly revenue of $117.2 billion, down 5 percent year over year, and quarterly earnings per diluted share of $1.88. + +“As we all continue to navigate a challenging environment, we are proud to have our best lineup of products and services ever, and as always, we remain focused on the long term and are leading with our values in everything we do,” said Tim Cook, Apple’s CEO. “During the December quarter, we achieved a major milestone and are excited to report that we now have more than 2 billion active devices as part of our growing installed base.” + +“We set an all-time revenue record of $20.8 billion in our Services business, and in spite of a difficult macroeconomic environment and significant supply constraints, we grew total company revenue on a constant currency basis,” said Luca Maestri, Apple’s CFO. “We generated $34 billion in operating cash flow and returned over $25 billion to shareholders during the quarter while continuing to invest in our long-term growth plans.” + +Apple’s board of directors has declared a cash dividend of $0.23 per share of the Company’s common stock. The dividend is payable on February 16, 2023 to shareholders of record as of the close of business on February 13, 2023. + +Apple will provide live streaming of its Q1 2023 financial results conference call beginning at 2:00 p.m. PT on February 2, 2023 at apple.com/investor/earnings-call. This webcast will be available for replay for approximately two weeks thereafter. + +Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders. + +This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about the payment of the Company’s quarterly dividend, its installed base growth, and its long-term plans. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: effects of global and regional economic conditions, including as a result of government policies, war, terrorism, natural disasters, and public health issues; risks relating to the design, manufacture, introduction, and transition of products and services in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, and content; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; and effects of unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. More information on these risks and other potential factors that could affect the Company’s business, reputation, results of operations, financial condition, and stock price is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates. + +Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it. + +NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or call Apple’s Media Helpline at (408) 974-2042. + +© 2023 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners. + +Apple Inc. + +CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) + +(In millions, except number of shares which are reflected in thousands and per share amounts) + +  + +Three Months Ended + +  + +December 31, +2022 + +  + +December 25, +2021 + +Net sales: + +  + +  + +  + +Products + +$ + +96,388 + +  + +  + +$ + +104,429 + +  + +Services + +  + +20,766 + +  + +  + +  + +19,516 + +  + +Total net sales (1) + +  + +117,154 + +  + +  + +  + +123,945 + +  + +Cost of sales: + +  + +  + +  + +Products + +  + +60,765 + +  + +  + +  + +64,309 + +  + +Services + +  + +6,057 + +  + +  + +  + +5,393 + +  + +Total cost of sales + +  + +66,822 + +  + +  + +  + +69,702 + +  + +Gross margin + +  + +50,332 + +  + +  + +  + +54,243 + +  + +  + +  + +  + +  + +Operating expenses: + +  + +  + +  + +Research and development + +  + +7,709 + +  + +  + +  + +6,306 + +  + +Selling, general and administrative + +  + +6,607 + +  + +  + +  + +6,449 + +  + +Total operating expenses + +  + +14,316 + +  + +  + +  + +12,755 + +  + +  + +  + +  + +  + +Operating income + +  + +36,016 + +  + +  + +  + +41,488 + +  + +Other income/(expense), net + +  + +(393 + +) + +  + +  + +(247 + +) + +Income before provision for income taxes + +  + +35,623 + +  + +  + +  + +41,241 + +  + +Provision for income taxes + +  + +5,625 + +  + +  + +  + +6,611 + +  + +Net income + +$ + +29,998 + +  + +  + +$ + +34,630 + +  + +  + +  + +  + +  + +Earnings per share: + +  + +  + +  + +Basic + +$ + +1.89 + +  + +  + +$ + +2.11 + +  + +Diluted + +$ + +1.88 + +  + +  + +$ + +2.10 + +  + +Shares used in computing earnings per share: + +  + +  + +  + +Basic + +  + +15,892,723 + +  + +  + +  + +16,391,724 + +  + +Diluted + +  + +15,955,718 + +  + +  + +  + +16,519,291 + +  + +  + +  + +  + +  + +(1) Net sales by reportable segment: + +  + +  + +  + +Americas + +$ + +49,278 + +  + +  + +$ + +51,496 + +  + +Europe + +  + +27,681 + +  + +  + +  + +29,749 + +  + +Greater China + +  + +23,905 + +  + +  + +  + +25,783 + +  + +Japan + +  + +6,755 + +  + +  + +  + +7,107 + +  + +Rest of Asia Pacific + +  + +9,535 + +  + +  + +  + +9,810 + +  + +Total net sales + +$ + +117,154 + +  + +  + +$ + +123,945 + +  + +  + +  + +  + +  + +(1) Net sales by category: + +  + +  + +  + +iPhone + +$ + +65,775 + +  + +  + +$ + +71,628 + +  + +Mac + +  + +7,735 + +  + +  + +  + +10,852 + +  + +iPad + +  + +9,396 + +  + +  + +  + +7,248 + +  + +Wearables, Home and Accessories + +  + +13,482 + +  + +  + +  + +14,701 + +  + +Services + +  + +20,766 + +  + +  + +  + +19,516 + +  + +Total net sales + +$ + +117,154 + +  + +  + +$ + +123,945 + +  + +Apple Inc. + +CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) + +(In millions, except number of shares which are reflected in thousands and par value) + +  + +December 31, +2022 + +  + +September 24, +2022 + +ASSETS: + +Current assets: + +  + +  + +  + +Cash and cash equivalents + +$ + +20,535 + +  + +  + +$ + +23,646 + +  + +Marketable securities + +  + +30,820 + +  + +  + +  + +24,658 + +  + +Accounts receivable, net + +  + +23,752 + +  + +  + +  + +28,184 + +  + +Inventories + +  + +6,820 + +  + +  + +  + +4,946 + +  + +Vendor non-trade receivables + +  + +30,428 + +  + +  + +  + +32,748 + +  + +Other current assets + +  + +16,422 + +  + +  + +  + +21,223 + +  + +Total current assets + +  + +128,777 + +  + +  + +  + +135,405 + +  + +  + +  + +  + +  + +Non-current assets: + +  + +  + +  + +Marketable securities + +  + +114,095 + +  + +  + +  + +120,805 + +  + +Property, plant and equipment, net + +  + +42,951 + +  + +  + +  + +42,117 + +  + +Other non-current assets + +  + +60,924 + +  + +  + +  + +54,428 + +  + +Total non-current assets + +  + +217,970 + +  + +  + +  + +217,350 + +  + +Total assets + +$ + +346,747 + +  + +  + +$ + +352,755 + +  + +  + +  + +  + +  + +LIABILITIES AND SHAREHOLDERS’ EQUITY: + +Current liabilities: + +  + +  + +  + +Accounts payable + +$ + +57,918 + +  + +  + +$ + +64,115 + +  + +Other current liabilities + +  + +59,893 + +  + +  + +  + +60,845 + +  + +Deferred revenue + +  + +7,992 + +  + +  + +  + +7,912 + +  + +Commercial paper + +  + +1,743 + +  + +  + +  + +9,982 + +  + +Term debt + +  + +9,740 + +  + +  + +  + +11,128 + +  + +Total current liabilities + +  + +137,286 + +  + +  + +  + +153,982 + +  + +  + +  + +  + +  + +Non-current liabilities: + +  + +  + +  + +Term debt + +  + +99,627 + +  + +  + +  + +98,959 + +  + +Other non-current liabilities + +  + +53,107 + +  + +  + +  + +49,142 + +  + +Total non-current liabilities + +  + +152,734 + +  + +  + +  + +148,101 + +  + +Total liabilities + +  + +290,020 + +  + +  + +  + +302,083 + +  + +  + +  + +  + +  + +Commitments and contingencies + +  + +  + +  + +  + +  + +  + +  + +Shareholders’ equity: + +  + +  + +  + +Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,842,407 and 15,943,425 shares issued and outstanding, respectively + +  + +66,399 + +  + +  + +  + +64,849 + +  + +Retained earnings/(Accumulated deficit) + +  + +3,240 + +  + +  + +  + +(3,068 + +) + +Accumulated other comprehensive income/(loss) + +  + +(12,912 + +) + +  + +  + +(11,109 + +) + +Total shareholders’ equity + +  + +56,727 + +  + +  + +  + +50,672 + +  + +Total liabilities and shareholders’ equity + +$ + +346,747 + +  + +  + +$ + +352,755 + +  + +Apple Inc. + +CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) + +(In millions) + +  + +Three Months Ended + +  + +December 31, +2022 + +  + +December 25, +2021 + +Cash, cash equivalents and restricted cash, beginning balances + +$ + +24,977 + +  + +  + +$ + +35,929 + +  + +Operating activities: + +  + +  + +  + +Net income + +  + +29,998 + +  + +  + +  + +34,630 + +  + +Adjustments to reconcile net income to cash generated by operating activities: + +  + +  + +  + +Depreciation and amortization + +  + +2,916 + +  + +  + +  + +2,697 + +  + +Share-based compensation expense + +  + +2,905 + +  + +  + +  + +2,265 + +  + +Other + +  + +(317 + +) + +  + +  + +849 + +  + +Changes in operating assets and liabilities: + +  + +  + +  + +Accounts receivable, net + +  + +4,275 + +  + +  + +  + +(3,934 + +) + +Inventories + +  + +(1,807 + +) + +  + +  + +681 + +  + +Vendor non-trade receivables + +  + +2,320 + +  + +  + +  + +(9,812 + +) + +Other current and non-current assets + +  + +(4,099 + +) + +  + +  + +(4,921 + +) + +Accounts payable + +  + +(6,075 + +) + +  + +  + +19,813 + +  + +Deferred revenue + +  + +131 + +  + +  + +  + +462 + +  + +Other current and non-current liabilities + +  + +3,758 + +  + +  + +  + +4,236 + +  + +Cash generated by operating activities + +  + +34,005 + +  + +  + +  + +46,966 + +  + +Investing activities: + +  + +  + +  + +Purchases of marketable securities + +  + +(5,153 + +) + +  + +  + +(34,913 + +) + +Proceeds from maturities of marketable securities + +  + +7,127 + +  + +  + +  + +11,309 + +  + +Proceeds from sales of marketable securities + +  + +509 + +  + +  + +  + +10,675 + +  + +Payments for acquisition of property, plant and equipment + +  + +(3,787 + +) + +  + +  + +(2,803 + +) + +Other + +  + +(141 + +) + +  + +  + +(374 + +) + +Cash used in investing activities + +  + +(1,445 + +) + +  + +  + +(16,106 + +) + +Financing activities: + +  + +  + +  + +Payments for taxes related to net share settlement of equity awards + +  + +(2,316 + +) + +  + +  + +(2,888 + +) + +Payments for dividends and dividend equivalents + +  + +(3,768 + +) + +  + +  + +(3,732 + +) + +Repurchases of common stock + +  + +(19,475 + +) + +  + +  + +(20,478 + +) + +Repayments of term debt + +  + +(1,401 + +) + +  + +  + +— + +  + +Repayments of commercial paper, net + +  + +(8,214 + +) + +  + +  + +(1,000 + +) + +Other + +  + +(389 + +) + +  + +  + +(61 + +) + +Cash used in financing activities + +  + +(35,563 + +) + +  + +  + +(28,159 + +) + +Increase/(Decrease) in cash, cash equivalents and restricted cash + +  + +(3,003 + +) + +  + +  + +2,701 + +  + +Cash, cash equivalents and restricted cash, ending balances + +$ + +21,974 + +  + +  + +$ + +38,630 + +  + +Supplemental cash flow disclosure: + +  + +  + +  + +Cash paid for income taxes, net + +$ + +828 + +  + +  + +$ + +5,235 + +  + +Cash paid for interest + +$ + +703 + +  + +  + +$ + +531 + +  + +  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005816/en/ \ No newline at end of file diff --git "a/news/AAPL/2023.02.02/Apple saw increased traffic in chinese stores in december as loc\342\200\246.txt" "b/news/AAPL/2023.02.02/Apple saw increased traffic in chinese stores in december as loc\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..ead04f9c6b4f6c49e04a7916b923b159d3e07332 --- /dev/null +++ "b/news/AAPL/2023.02.02/Apple saw increased traffic in chinese stores in december as loc\342\200\246.txt" @@ -0,0 +1 @@ +APPLE SAW INCREASED TRAFFIC IN CHINESE STORES IN DECEMBER AS LOCKDOWNS LIFTED - CEO COOK \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Apple suffers 1st quarterly sales decline in nearly 4 years.txt b/news/AAPL/2023.02.02/Apple suffers 1st quarterly sales decline in nearly 4 years.txt new file mode 100644 index 0000000000000000000000000000000000000000..275a33f6b0e6e49cb33804b66092fc43f5f8e583 --- /dev/null +++ b/news/AAPL/2023.02.02/Apple suffers 1st quarterly sales decline in nearly 4 years.txt @@ -0,0 +1 @@ +Apple on Thursday posted its first quarterly revenue drop in nearly four years after pandemic-driven restrictions on its China factories curtailed sales of the latest iPhone during the holiday season.The company's sales of $117 billion for the October-December period represented a 5% decline from the same time in the previous year, a deeper downturn than analysts had projected.It marks Apple’s first year-over-year decrease in quarterly revenue since the January-March period in 2019 when sales also slipped 5% amid slowing iPhone demand and the fallout of a trade war with China that was being waged by then-President Donald Trump.Apple’s profit also eroded during the past quarter, even though the Cupertino, California, company remained a pillar of prosperity. Earnings totaled $30 billion, or $1.88 per share, a 13 decrease from the same time in the previous year. Those results also missed a target of $1.94 per share set by analysts polled by FactSet Research.Investors reacted to the letdown by initially driving down Apple's stock by nearly 5% in Thursday's extended trading. But management remarks made during a conference call with analysts raised hopes that Apple's disappointing performance may have been a mere hiccup, paring the decrease in the company's shares to less than 1%.Apple’s rare stumble came against a backdrop of renewed investor optimism about tech’s outlook for this year, helping to spur a 17% increase in the sector’s bellwether Nasdaq composite index so far this year.But now Wall Street seems likely to reassess things in light of Apple’s latest results and ongoing worries about a potential recession in the wake of rising interest rates aimed at tamping down inflation, said Investing.com analyst Jesse Cohen.With Google also disclosing a year-over-year quarterly decline in its digital ad sales on Thursday alongside Apple's disappointing performance, Cohen said it's clear there are “several challenges the tech sector faces amid the current economic climate of slowing growth and elevated inflation.”Despite the quarterly downturn in its fortunes. Apple hasn’t signaled any intention to resort to mass layoffs — a stark contrast to its peers in technology. Industry giants Alphabet, Microsoft, Amazon and Meta Platoforms have announced plans to jettison more than a combined 50,000 employees as they adjust to revenue slowdowns or downturns caused by people’s lessening dependence on the digital realm as the pandemic has eased.“We manage for the long term," Apple CEO Tim Cook told analysts during the conference call. “We invest in innovation and people.”Cook had tried to brace investors for tougher sledding in late October when he warned of “increasingly difficult economic conditions” heading into the holiday season. Then, just a few days later, Apple cautioned that China’s attempts to clamp down on the spread of COVID was affecting its production lines and would prevent meeting all the demand for the premium iPhone 14 models during the holidays.That contributed to an 8% decrease in iPhone sales from the previous year to $65.8 billion in the most recent quarter.Cook indicated Apple's supply headaches are now over, assuring analysts that “production is now back where we want it to be."In another positive sign, Apple also disclosed that it now has more than 2 billion iPhones, iPads, Macs and other devices in active use for the first time. That is likely to help Apple sell more digital subscriptions and ads, helping to fuel long-term revenue growth.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git "a/news/AAPL/2023.02.02/Apple's production disruptions at chinese manufacturing sites la\342\200\246.txt" "b/news/AAPL/2023.02.02/Apple's production disruptions at chinese manufacturing sites la\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..1d2e8ccdf7d803ef6aa4ce70aad0ddaa2c53d03f --- /dev/null +++ "b/news/AAPL/2023.02.02/Apple's production disruptions at chinese manufacturing sites la\342\200\246.txt" @@ -0,0 +1 @@ +APPLE'S PRODUCTION DISRUPTIONS AT CHINESE MANUFACTURING SITES LASTED THROUGH 'MOST OF DECEMBER' - CEO TIM COOK INTERVIEW \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Apple's weak iPhone sales drive first profit miss since 2016.txt b/news/AAPL/2023.02.02/Apple's weak iPhone sales drive first profit miss since 2016.txt new file mode 100644 index 0000000000000000000000000000000000000000..9f10ae3bd89e04c2da7928f46963051f26f2ceb3 --- /dev/null +++ b/news/AAPL/2023.02.02/Apple's weak iPhone sales drive first profit miss since 2016.txt @@ -0,0 +1 @@ +Apple sales fell 5% to $117.2 billion and were down in every part of the world in the quarter. Sales from each product category dropped, except for gains in services and iPads. Earnings per share were $1.88, Apple's first miss of Wall Street's profits expectations since 2016.Analysts had expected sales of $121.1 billion and profits of $1.94 per share, according to IBES data from Refinitiv. Apple Chief Executive Tim Cook told Reuters that the production disruptions that plagued Apple's key quarter were now over.During its fiscal first quarter ended Dec. 31, Apple faced a wave of challenges that left Wall Street expecting lower sales. Chief among those were supply chain pressures when COVID lockdowns at a production facility in Zhengzhou, China, slowed production of iPhone 14 Pro and Pro Max devices, both premium priced models that would traditionally help drive Apple's margins higher.In an interview with Reuters, Cook said that production disruptions "lasted through most of December" but that "production is now back where we want it to be." Cook said the lockdowns in China created a dual challenge where both supply and demand were constrained, with greater China sales falling 7% to $23.9 billion."When things started to reopen in December (in China), we did see an increase in traffic to our stores as compared to November and an increase in demand as December rolled around," Cook told Reuters. The strong U.S. dollar also hurt Apple, which derives more than half its sales from outside the Americas, but the effect was less than anticipated as the dollar eased from last year's highs. Apple had warned investors that such foreign-exchange issues would put a 10% on drag on sales but said on Thursday that the actual effect was 8%."I would point out that 8% is still a very severe headwind," Cook told Reuters. "I wouldn't want to underestimate that. We would have grown on a constant currency basis."On top of supply chain problems for the iPhone, Wall Street analysts had expected iPhone sales to fall this year as part of a larger pattern in which the iPhone 14 family released last year sells more slowly after two straight years of strong sales of iPhone 12 and 13 models. Apple said iPhone sales were $65.8 billion, down 8% from the year before and below analyst estimates of $68.3 billion.The company's services segment, which includes content businesses such as Apple TV+ and software business like the App Store, rose 6% to $20.8 billion in revenue, compared with analyst expectations of $20.7 billion, according to Refinitiv data. Cook told Reuters that the company now has a base of 2 billion active devices, up from 1.8 billion a year ago. The company now has 935 million paid subscriptions, up from 900 million the quarter before, and that services sales set a record in several markets, including China, he said.Sales of the company's Mac computers, which had boomed during the wave of working from home during the pandemic, declined 29% year over year to $7.7 billion, compared with expectations of $9.6 billion, according to Refinitiv data. Apple executives had warned last year that Mac sales were likely to decline year over year because the previous year's results included a burst of sales associated with the release of new MacBook Pro computers with Apple's house-designed processors.Sales of the iPad, which also saw a pandemic-related boost, grew 30% to $9.4 billion, compared with analyst expectations of $7.8 billion, according to Refinitiv data. The wearable and accessories segment, which includes the Apple Watch and AirPods, fell 8% to $13.5 billion compared with analyst estimates of $15.2 billion, according to Refinitiv data.Cook told Reuters the iPad's strong performance stemmed from the launch of new models and the absence of supply constraints that had hindered sales of the device a year earlier.  Apple investors are waiting to see whether the company dives into new markets this year. Technology publication The Information has reported that Apple plans to launch a mixed-reality headset that could retail for around $3,000 this year and is also working on a more affordable follow-up device. Apple is one of the few large technology firms that has not announced major layoffs, though its ranks never grew as rapidly as that of its peers. In late 2022 it said it had 164,000 employees, up less than 20% from its 2019 headcount. By contrast, other companies such as Meta Platforms Inc, which is laying off about 11,000 employees, had roughly doubled its headcount between 2019 and 2022. (Reporting by Stephen Nellis in San Francisco; Additional reporting by Akash Sriram in Bengaluru; Editing by Peter Henderson and Lisa Shumaker)By Stephen Nellis \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Apple, Alphabet miss Wall Street expectations.txt b/news/AAPL/2023.02.02/Apple, Alphabet miss Wall Street expectations.txt new file mode 100644 index 0000000000000000000000000000000000000000..c08571fa7df1d77a5c30e4e7856bfad2d2695100 --- /dev/null +++ b/news/AAPL/2023.02.02/Apple, Alphabet miss Wall Street expectations.txt @@ -0,0 +1 @@ +In results reported on Thursday, Apple missed profits expectations for the first time since 2016.Sales fell 5% to $117 billion, down in every part of the world last quarter.Part of the problem: weak iPhone sales.COVID lockdowns in China disrupted production.Demand fell in China, too... and overall, iPhone sales are down around 8% compared to the year before.Shares in the tech giant fell 5% after the results came out.It was a slightly rosier picture at Amazon.Its holiday revenue beat expectations, with early holiday shopping sales helping, to a point. Still, the boost may be short-lived.Amazon is already warning it may not make any profit at all this quarter.It doesn't think layoffs will do enough to blunt the impact of consumer clampdowns on spending. Facing high inflation and an uncertain economy, CEO Andy Jassy wants to slash costs.It's a similar story at Google parent Alphabet, where chief executive Sundar Pichai said the company was on a journey to "re-engineer" its cost structure.Both echoed comments from Meta boss Mark Zuckerberg the day - before who placed emphasis on "cost efficiencies." Alphabet also fell short of profit and revenue expectations.Overall, Alphabet's net income fell to $13.62 billion from $20.64 billion a year earlier.Shares there were down about 4 percent in after-hours trading.The stock lost about 40 percent of its value last year.Alphabet has also announced plans to slash 12,000 jobs, or about 6% of its overall workforce.Apple is one of the few large tech firms that hasn't announced big layoffs so far. \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt b/news/AAPL/2023.02.02/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt new file mode 100644 index 0000000000000000000000000000000000000000..49b75bffee6c6e5407c3df485270870390f67198 --- /dev/null +++ b/news/AAPL/2023.02.02/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt @@ -0,0 +1 @@ +Overnight, markets sensed the end of the massive global tightening cycle, after policymakers in Britain and Europe signalled their intention to pause, sending local bonds rallying and currencies lower. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.5% on Friday, dragged down by a 0.9% slump in Chinese bluechips and a 1.2% tumble in Hong Kong's Hang Seng index. Japan's Nikkei outperformed, rising 0.6%. Disappointment over earnings results from Google, Apple and Amazon tempered sentiment. S&P 500 futures slid 0.5% and Nasdaq futures fell 1.4% on Friday, . Tech shares took a beating in Thursday's after-hours trading, with shares of Apple, Amazon and Google parent Alphabet all tumbling. That took the shine off a strong regular trading session on Thursday, when the S&P climbed 1.5% and the Nasdaq surged 3.3%. The uptick built on strong gains from the previous day after the Federal Reserve Chair Jerome Powell said disinflationary pressures are underway in the economy, raising hopes of an imminent pause to its monetary tightening streak. Apple projected another revenue decline in the start of the year, Amazon warned that its operating profit could fall to zero in the current quarter, and Google parent Alphabet missed expectations in its fourth-quarter profit and revenue. Investors are also watching the fallout from this week's plunge in shares of India's Adani group, after market losses amounted to more than $100 billion in the wake of a U.S. short-seller's report.On Thursday, the European Central bank (ECB) and Bank of England (BoE) hiked rates by 50 basis points each, with the BoE saying the tide was turning against inflation and the ECB indicating at least one more hike was on the horizon before re-evaluating its rate hike path. Markets reacted by pushing European yields sharply lower, with the ten-year German bunds falling 22.6 basis points to 2.065%, the biggest drop since 2011, and Italian bonds tumbling 40 bps to 3.887%, the most since 2020, on hopes that the tightening from ECB will end soon. "The wash-up is that the BoE meeting was dovish, and the ECB is now firmly open-minded and data-dependent, and the Fed chose not to fight the market and the market feels validated by that," said Chris Weston, head of research at Pepperstone. Alan Ruskin, macro strategist at Deutsche Bank, said given the current market price action ahead of the U.S. payrolls data, a softer report would be regarded as endorsing all the favourite trades of the year. "Not least it would provide the most important evidence to date to suggest that the market's rates pricing is more appropriate than the Fed's own more hawkish signalling," said Ruskin. Analysts expect 185,000 jobs were added last month, the lowest since January 2021, unemployment edged up to 3.6%, and hourly wage inflation to stay flat at 0.3% on a monthly basis, suggesting the strong labour market might have started to ease up. Futures markets still favour another 25-basis-point hike from the Fed at its March policy meeting, while implying that might be the end of its current tightening cycle. They have also priced in one rate cut by the end of this year. In the currency markets, the euro extended losses to $1.0891, pulling further away from the ten-month top of $1.1033 touched on Thursday. The sterling fell to $1.2206 on Friday, the lowest in more than two weeks, after tumbling 1.2% the previous session. That helped the U.S. dollar to recoup most of its post-Fed losses, with the dollar index now standing at 101.81, away from its nine-month low of 100.80.Treasury yields held largely steady. The yield on benchmark 10-year Treasury notes eased 2 basis points to 3.3799%, while the two-year yield, which rises with traders' expectations of higher Fed fund rates, was mostly flat at 4.0959%. In the oil market, Brent crude futures rose 0.3% to $82.41 while U.S. West Texas Intermediate (WTI) crude also settled up 0.3%, at $76.09.Gold was slightly higher. Spot gold was traded at $1916.1 per ounce. (Editing by Shri Navaratnam)By Stella Qiu \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Billionaire Cohen builds stake in Nordstrom, urges board shakeup.txt b/news/AAPL/2023.02.02/Billionaire Cohen builds stake in Nordstrom, urges board shakeup.txt new file mode 100644 index 0000000000000000000000000000000000000000..c1617a96de948036d827538316a6b0c099395e13 --- /dev/null +++ b/news/AAPL/2023.02.02/Billionaire Cohen builds stake in Nordstrom, urges board shakeup.txt @@ -0,0 +1 @@ +Cohen, who built his fortune by co-founding online pet retailer Chewy Inc and cemented it with investments in videogame retailer GameStop and Apple Inc, would like to replace at least one director on Nordstrom's 10-member board, the people said.He appears to be taking at aim at Mark Tritton, who chairs the compensation committee and has served as a director since 2020. Cohen has privately called Tritton, a former chief executive of Bed Bath & Beyond, "conflicted and unqualified," said the people, who were not permitted to discuss the private negotiations. Bed Bath & Beyond is preparing to file for bankruptcy, Reuters reported this week.Investors cheered Cohen's reported involvement at Nordstrom by sending the stock price up 25% in after-hours trading on Thursday.Nordstrom shares have dropped roughly 55% over the past five years, and ratings agency Fitch again downgraded the company last month, saying that its "operating trajectory has been weaker than most retailers."The Wall Street Journal first reported Cohen's stake in Nordstrom. Cohen is now one of the company's top five non-insider shareholders alongside investment firms BlackRock and Fidelity, the people familiar with his stake said.Tritton was ousted as Bed Bath & Beyond's CEO as part of a management shakeup in June just a few months after Cohen had taken a stake in the home goods retailer and criticized it for an "overly ambitious" strategy, for overpaying executives and failing to reverse market share losses.As possible replacements on the Nordstrom board, Cohen has identified executives with experience at retail and e-commerce companies, the people said. Cohen would like to reach a deal with the company without resorting to a proxy fight, the people said. The window to publicly nominate directors at Nordstrom closes on Feb. 17, according to proxy materials. Canada-born Cohen, 37, has a net worth estimated at $2.5 billion. He made a splash in the investing world two years ago when he joined the board of GameStop, igniting a frenzy in the stock price that turned the video retailer into a "meme stock" backed by retail investors.Nordstrom was founded by the Nordstrom family, and insiders still own roughly 30% of the stock with brothers Erik and Peter serving as chief executive officer and president, respectively. They also have board seats. Cohen has met with family members in Seattle, where the company is headquartered, and has expressed admiration for the company's customer service, the people said. (Reporting by Svea Herbst-Bayliss; Editing by Leslie Adler)By Svea Herbst-Bayliss \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Democratic senator urges Apple, Google to kick TikTok out of app stores.txt b/news/AAPL/2023.02.02/Democratic senator urges Apple, Google to kick TikTok out of app stores.txt new file mode 100644 index 0000000000000000000000000000000000000000..d55435820aa7980fac4d8142e54cebb9ac0c3538 --- /dev/null +++ b/news/AAPL/2023.02.02/Democratic senator urges Apple, Google to kick TikTok out of app stores.txt @@ -0,0 +1 @@ +The app, which Congress has already banned from federal government devices, has come under increasing criticism because of concern that China's government could use it to harvest data on Americans or advance Chinese interests."No company subject to CCP (Chinese Communist Party) dictates should have the power to accumulate such extensive data on the American people or curate content to nearly a third of our population," Bennet wrote in the letter to Alphabet Chief Executive Sundar Pichai and Apple CEO Tim Cook."Given these risks, I urge you to remove TikTok from your respective app stores immediately," he wrote.Prior to Bennet's letter, Republicans have largely led the charge on TikTok and national security concerns, although Democratic Senator Dick Durbin previously urged Americans to stop using the app. In the House, which is now in Republican hands, the Foreign Affairs Committee plans to hold a vote this month on a bill aimed at blocking TikTok's use in the United States, the committee confirmed.In 2020, then-President Donald Trump attempted to block new users from downloading TikTok and ban other transactions that would have effectively prevented TikTok's use in the United States, but the move was rebuffed by the courts.For its part, the company says China's government cannot access the personal data of U.S. citizens or manipulate the app's content. TikTok Chief Executive Shou Zi Chew is due to appear before the U.S. House Energy and Commerce Committee in March. (Reporting by Diane Bartz; Editing by Stephen Coates) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt b/news/AAPL/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt new file mode 100644 index 0000000000000000000000000000000000000000..469ef069fc5071e3016f1e870dad7db43b7f7e17 --- /dev/null +++ b/news/AAPL/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt @@ -0,0 +1,35 @@ + +  +  +Corporate results: + +ABB: Order intake declines in Q4. +Banco Santander: Q4 net profit rises to €2.3bn. +Deutsche Bank: Q4 net profit comes up a little short of expectations. Current year revenues expected to be between €28-29bn. +Infineon: Segment margin expected to come out in fiscal Q2 at around 25%, versus 23.5% initially projected. +ING Groep: Q4 net profit came in at €1.1bn, slightly above consensus. +Nordea: Q4 net profit reaches €1.64bn. +Roche Holding: 2023 growth expected to slow. +Shell: The oil major company posted a record annual profit of $40bn. +Siemens Healthineers: The group reports a 28% drop in Q4 operating profit due to lower Covid test sales and delays at a supplier to its Varian business. +Sony: Annual operating profit should be slightly higher than expected. +Meta Platforms jumped 19 percent in pre-market trading after announcing Wednesday night a $40 billion share buyback program, tighter cost controls this year and an upbeat forecast for its first-quarter revenue. Apple, Alphabet and Amazon, which will report results after the U.S. markets close, were up 1.1% to 4.3% in pre-market trading. +Eli Lilly on Thursday raised its full-year profit target, expecting higher demand for its new diabetes drug Mounjaro. +Estee Lauder raised its full-year sales forecast Thursday on solid demand for its products and an expected recovery in China, its largest market. +Honeywell reported a 28.6% drop in fourth-quarter profit, hampered by supply problems and labor shortages. +Merck reported a better-than-expected quarterly profit on strong Asian sales of its Covid-19 antiviral. The company's profit forecast for this year, however, came in below analysts' consensus, sending the stock down 1% in premarket trading. +Metlife reported a 33% drop in adjusted fourth-quarter profit on Wednesday. + +In other news: + +KKR has made a non-binding offer to acquire a majority stake in Telecom Italia's fixed-line telecommunications network. +Boeing won a $1.62 billion contract from the U.S. Air Force to supply guidance systems for the Minuteman III intercontinental ballistic missile. +Pinterest decided to lay off about 150 employees, less than 5 percent of its workforce, Bloomberg reported Wednesday. +Adani Enterprises cancels its capital increase. +FedEx will lay off more than 10% of its executives and directors. +Sony will promote CFO Hiroki Totoki to president and COO. +Trading in several Adani stocks suspended after their plunge. +Honda will begin production of a new hydrogen fuel cell system developed jointly with General Motors. +Swatch proposes a dividend of CHF 6 per share (CHF 1.20 per registered share). + +Today's main earnings reports: Apple, Alphabet, Amazon, Eli Lilly, Roche, Merck & Co, Costco, Shell, Sony, Qualcomm, Estée Lauder, ABB, Dassault Systèmes, ING Groep, Infineon, Nordea, Deutsche Bank... All the agenda is here. diff --git a/news/AAPL/2023.02.02/Marketmind: Communication breakdown.txt b/news/AAPL/2023.02.02/Marketmind: Communication breakdown.txt new file mode 100644 index 0000000000000000000000000000000000000000..cdb0ae53159cf84bf7082186cab19d00d29e4576 --- /dev/null +++ b/news/AAPL/2023.02.02/Marketmind: Communication breakdown.txt @@ -0,0 +1 @@ +The Fed, ECB, and BoE have spoken, and the market's message is: We hear you, but we don't believe you.All three raised interest rates as expected this week, said they will act again at upcoming meetings, and with varying degrees of guidance and conviction said they stand ready to tighten even further if inflation conditions warrant it.But investors aren't buying it. Wall Street and world stocks have jumped, bond yields are tumbling, and economists and rates futures markets are scaling back central bank hiking expectations.Contrary to what policymakers are surely aiming for, financial conditions are easing. Look how Germany's 10-year bond yield reacted on Thursday to ECB president Lagarde's press conference - down 20 basis points, one of the biggest falls since the euro was launched in 1999. According to Goldman Sachs, U.S. financial conditions are the loosest since August and have eased 150 basis points since mid-October. That's despite 225 bps of rate hikes since September.The falling dollar and lower Treasury yields have helped loosen financial conditions across most of emerging Asia in recent weeks too. Regional risk appetite remains firm, even though a pause in the equity rally may be overdue.The MSCI Asia ex-Japan index only has to rise around 0.7% on Friday - not an insurmountable challenge on the back of Wall Street's latest bounce - to post its sixth consecutive weekly gain. That would mark 12 increases out of the last 14 weeks, while the MSCI World index has had only one down day in the last 10. Remarkable runs. (Hang Seng tech index )Watch for outsized moves in Asian tech stocks on Friday following the 23% surge in Meta Platforms Inc shares. Apple, Amazon and Google parent Alphabet also reported results after the U.S. close.On the economic data front, a batch of PMI reports will give the latest insight into the health of several key economies in Asia, including China and India, while December retail sales figures from Hong Kong and Singapore will also be released.Here are three key developments that could provide more direction to markets on Friday:- China Caixin services PMI (January)- India S&P Global Services PMI (January)- U.S. non-farm payrolls (January) (By Jamie McGeever; Editing by Deepa Babington)By Jamie McGeever \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Marketmind: Fed fillip, double trouble, triple A.txt b/news/AAPL/2023.02.02/Marketmind: Fed fillip, double trouble, triple A.txt new file mode 100644 index 0000000000000000000000000000000000000000..7ca7e869c2c9a6abf56f37f55e97a627246d4908 --- /dev/null +++ b/news/AAPL/2023.02.02/Marketmind: Fed fillip, double trouble, triple A.txt @@ -0,0 +1 @@ +It looks less like fighting the Fed, than a mild disagreement.As the Federal Reserve slowed the pace of its interest rate rates on Wednesday to a quarter point, but with a promise of more, Wall St surged - comforted by Chair Jerome Powell's reluctance to loudly protest market pricing for peak rates by June, and easing by year-end.Powell didn't endorse that market view - which now has just one more quarter point rise to a terminal rate under 4.9% by May and 40 basis points of cuts from there by December. But he seemed ambivalent about investors' more optimistic take on disinflation and indicated the central bank was increasingly keeping its options open about a 'couple of hikes'."We can now say for the first time that the disinflationary process has started," Powell told reporters, adding he was "not particularly concerned" about market pricing - when many have expected him to push back harder to stymie a premature easing of broader financial conditions.With the U.S. labour market a key ingredient in how the Fed sees the disinflation process playing out, a notable slowing in private sector hiring last month will encourage speculation for similar easing of the super-tight jobs market in Friday's release of the January national payrolls report.Aided by a quarterly refunding schedule and some tentative signs of compromise on the debt ceiling row, 10-year Treasury yields dropped more than 10bp to less than 3.40%. The dollar swooned, falling to its lowest since April last year. By the close, the S&P 500 and Nasdaq added 1% and 2% respectively and stock futures are extending that rally early on Thursday - helped by a near 20% rocketing of Meta's share price after the bell.Meta's stock boomed as its earnings update showed stricter cost controls and a new $40 billion share buyback.The wave of optimism comes as Big Tech trio Apple, Amazon and Alphabet report after the close on Thursday.The VIX index of U.S. stock volatility fell to its lowest level in more than a year.The dovish take on the Fed now gets a potentially more hawkish follow-up from the European Central Bank and Bank of England - both of whom are forecast to stick with half point interest rate rises later on Thursday.With the risk around the BoE's split monetary policy council for a smaller quarter point move, it was the euro that looks set to emerge the winner of the three big central bank events. The euro/dollar exchange rate hit its highest in nine-months.And in a reminder of how new year optimism doesn't necessarily lift all boats, the rout in India's giant Adani conglomerate deepened.Adani market losses swelled to more than $100 billion on Thursday - sparking worries about country-wide investment contagion a day after its flagship company abandoned a $2.5 billion stock offering. It's battling a short seller attack on the firm's bonds amid questions over the group's leverage and growing doubts about margin financing.Key developments that may provide direction to U.S. markets later on Thursday:* European Central Bank and Bank of England policy decisions* US Q4 Unit Labor Costs, productivity; weekly jobless claims * U.S. corp earnings: Apple, Amazon, Alphabet, Ford, Starbucks Clorox, Qualcomm, Gilead, Conocophillips, Bristol-Myers Squibb, Honeywell, Estee Lauder, CMS, Intercontinental Exchange, Merck, Hershey, WW Grainger, Illinois Tool Works, etc (By Mike Dolan, editing by Elaine Hardcastle mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Meta surges on cost cut, buyback plans; lifts mega-cap stocks.txt b/news/AAPL/2023.02.02/Meta surges on cost cut, buyback plans; lifts mega-cap stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..08db19fc41fb015a796c0a66cad422c75b79f50d --- /dev/null +++ b/news/AAPL/2023.02.02/Meta surges on cost cut, buyback plans; lifts mega-cap stocks.txt @@ -0,0 +1 @@ +Meta plans to cut costs in 2023 by $5 billion to between $89 billion and $95 billion compared with its earlier outlook of $94 billion to $100 billion, with CEO Mark Zuckerberg calling 2023 the "Year of Efficiency."The company further boosted investot confidence by forecasting first-quarter sales ahead of Wall Street estimates.If premarket gains hold, the company would add nearly $76 billion to its $401.51 billion market value. The stock slumped about 64% in 2022."Promising that 2023 will be a year of efficiency was always likely to go down well with investors concerned about the largesse in spending directed towards the unproven potential of the metaverse," said AJ Bell, investment director at Russ Mould.Meta results also sparked a rally in shares of other mega-cap firms that are set to report quarterly results later in the day. Amazon.com Inc and Google owner Alphabet Inc rose about 4% each, while Apple Inc firmed 1.1%.Shares of social media firm Pinterest Inc added about 5.8% after a report that the online pinboards firm was cutting staff by 150, nearly 5% of its workforce, while Snap Inc added 2% a day after ending nearly 10% lower after the company forecast a decline on current-quarter revenue.Rate-sensitive tech and growth stocks also got a boost as U.S. Treasury yields retreated after Federal Reserve chair Jerome Powell acknowledged on Wednesday that inflation was starting to ease. (Reporting by Medha Singh in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Nasdaq futures jump more than 1% on Meta surge, Fed relief.txt b/news/AAPL/2023.02.02/Nasdaq futures jump more than 1% on Meta surge, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..7718f4c05040d1e2fbcbab7d3e76a3485f93473f --- /dev/null +++ b/news/AAPL/2023.02.02/Nasdaq futures jump more than 1% on Meta surge, Fed relief.txt @@ -0,0 +1 @@ +Facebook-parent Meta Platforms Inc jumped 18.9% in premarket trading after the company also announced a new $40 billion share buyback and said it would cut costs in 2023 by $5 billion to a range of $89 billion to $95 billion.Shares of other growth companies including Apple Inc, Alphabet Inc and Amazon.com Inc rose between 1.1% and 4.3%. The three companies are slated to report quarterly results after market close.Wall Street's main indexes got a boost in the previous session from Powell acknowledging that inflation was starting to ease after the U.S. central bank raised rates by 25 basis points.Although a U.S. recession is widely priced in, Powell's comments aided hopes of it being a mild one.After a bruising 2022, U.S. stock markets have made a strong start to the year, with megacap companies gaining on hopes that the Fed will pull back from its hawkish monetary policy outlook, which in turn could ease some pressure off their valuations.At 5:18 a.m. ET, Dow e-minis were down 45 points, or 0.13%, S&P 500 e-minis were up 20.75 points, or 0.5%, and Nasdaq 100 e-minis were up 179 points, or 1.44%.A 0.2% decline in shares of drugmaker Merck & Co ahead of its quarterly report weighed on Dow futures. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt b/news/AAPL/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..7377c9230398c71d431349ca0d9e9cce14486d3a --- /dev/null +++ b/news/AAPL/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta jumps on $40 billion share buyback*Merck slides on disappointing forecast*Align Technology climbs to nine-month high*U.S. weekly jobless claims fall to nine-month low*Indexes: Dow 0.27%, S&P 1.49%, Nasdaq 3.24%Feb 2 (Reuters) - The Nasdaq rose to a near five-month +intraday high as Meta Platforms surged on rigorous cost +controls, while a dovish message from Federal Reserve Chair +Jerome Powell boosted appetite for risky assets.The Facebook parent soared 26.9% to a near +eight-month high after it announced a new $40 billion share +buyback and said it would cut costs in 2023 by $5 billion to +between $89 billion and $95 billion.The S&P 500 Value index housing Meta jumped 2% to +more than a year's high."It certainly seems that markets are up because earnings +for Meta were surprisingly positive," said Sam Stovall, chief +investment strategist at CFRA Research in New York.Seven of the top 11 S&P 500 sectors advanced, with the +communication services sector, which includes Meta, +jumping 6.7% to its highest in five months.Apple Inc, Alphabet Inc and Amazon.com +Inc rose between 3.2% and 6.4% ahead of their quarterly +results after markets close.Wall Street's main indexes got a boost as Powell +acknowledged that inflation was starting to ease. The U.S. +central bank raised rates by 25 basis points on Wednesday.After a bruising 2022, U.S. stocks have made a strong +comeback, with megacap companies gaining on hopes that the Fed +will ease its hawkish monetary policy stance."Investors are finally looking beyond the specter of the +Federal Reserve raising rates. They see there is an eventual end +to the misery of rate hikes and are realizing so many stocks +were oversold in the misery of last year," said Peter Andersen, +founder of Andersen Capital Management.Meanwhile, data showed jobless claims unexpectedly fell last +week to a nine-month low, highlighting the labor market's +resilience, ahead of nonfarm payroll numbers on Friday.At 13:23 ET, the Dow Jones Industrial Average was +down 93.07 points, or 0.27%, at 33,999.89, the S&P 500 +was up 61.41 points, or 1.49%, at 4,180.62, and the Nasdaq +Composite was up 383.38 points, or 3.24%, at 12,199.70.The S&P 500's chart formed a "golden cross" pattern, in +which its 50-day moving average vaulted above the 200-day moving +average, perceived by many as a bullish signal for near-term +momentum.The price-weighted Dow was the only major index in the red +after disappointing earnings by some of its components. +Honeywell International Inc shed 0.5% after posting a +28.6% fall in quarterly profit.Drugmaker Merck & Co slid 4.6% on a +lower-than-expected annual forecast, while Eli Lilly & Co +dropped 5.5% on missing quarterly revenue estimates.Align Technology Inc surged 29.3% to a nine-month +high on its first quarterly results beat in a year.Analysts now see earnings of S&P 500 firms declining 2.4% +for the quarter, according to Refinitiv estimates.Advancing issues outnumbered decliners by a 2.74-to-1 ratio +on the NYSE, and by a 3.15-to-1 ratio on the Nasdaq.The S&P index recorded 33 new 52-week highs and one new low, +while the Nasdaq recorded 135 new highs and nine new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Nasdaq, S&P 500 close higher on Meta bump, Fed lift.txt b/news/AAPL/2023.02.02/Nasdaq, S&P 500 close higher on Meta bump, Fed lift.txt new file mode 100644 index 0000000000000000000000000000000000000000..5ccf1825d36260d32b555804c9d4054f662fea74 --- /dev/null +++ b/news/AAPL/2023.02.02/Nasdaq, S&P 500 close higher on Meta bump, Fed lift.txt @@ -0,0 +1,43 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta soars after cost controls, $40 bln share buyback*Merck slides on disappointing forecast, UnitedHealth drops*S&P 500, Nasdaq hit roughly 5-month intraday highs(Updates with U.S. market close)Feb 2 (Reuters) - The Nasdaq and S&P 500 ended higher on +Thursday after touching roughly five-month intraday highs as a +more dovish-than-expected message from Federal Reserve Chair +Jerome Powell boosted equities and Meta Platforms shares soared +on rigorous cost controls.Declines in some big healthcare stocks weighed on the +Dow.Shares of megacap stocks Apple, Amazon and +Google parent Alphabet also gained strongly ahead of +their results due after market close.Investors were still digesting the Fed's policy decision on +Wednesday and comments from Powell, who acknowledged progress in +the fight against inflation and appeared reluctant to push back +against the rally in stocks and bonds.“I think the reaction to yesterday’s Fed comments really +encouraged investors to go risk on,” said Rick Meckler, partner +at Cherry Lane Investments in New Vernon, New Jersey. "The +bottom line for investors I think is that the Fed’s comments +were unexpected.”According to preliminary data, the S&P 500 +gained 61.05 points, or 1.48%, to end at 4,180.26 points, +while the Nasdaq Composite gained 384.91 points, or +3.26%, to 12,201.23. The Dow Jones Industrial Average +fell 38.26 points, or 0.11%, to 34,054.70.After a bruising 2022, U.S. stock markets have made a strong +start to the year, with tech and other stocks that lagged last +year leading the rebound amid hopes that the Fed will temper its +aggressive rate hikes, which in turn could alleviate some +pressure on equity valuations.Those trends continued on Thursday. The communications +services sector jumped, led by a surge for Facebook +parent Meta. The company revealed stricter cost +controls this year and a $40 billion share buyback, as CEO Mark +Zuckerberg called 2023 the "year of efficiency."“I think that encapsulates what investors want to hear from +tech companies this year," said Anthony Saglimbene, chief market +strategist at Ameriprise Financial. "They want to hear that it +is a year of efficiency, they are getting out ahead of a +slowdown in the economy."UnitedHealth Group shares fell after the U.S. +government proposed Medicare Advantage reimbursement rates below +analyst estimates, and the stock weighed down the Dow. A decline +in Merck shares, after the drugmaker forecast 2023 +earnings below Wall Street estimates, also dragged on the blue +chip index.Shares of drugmaker Eli Lilly dropped after sales of +its closely watched diabetes drug missed estimates.Data showed jobless claims fell last week to a nine-month +low, highlighting the labor market's resilience, ahead of +monthly U.S. employment numbers on Friday. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi, Anil +D'Silva and Cynthia Osterman) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Nasdaq, S&P 500 jump on Meta rise, Fed relief.txt b/news/AAPL/2023.02.02/Nasdaq, S&P 500 jump on Meta rise, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..eba3217b97e185602ba2dbc6f8591d3b321d9ffa --- /dev/null +++ b/news/AAPL/2023.02.02/Nasdaq, S&P 500 jump on Meta rise, Fed relief.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta soars after cost controls, $40 bln share buyback*Merck slides on disappointing forecast, UnitedHealth drops*S&P 500, Nasdaq hit roughly 5 month highs*Indexes: Dow down 0.26%, S&P up 1.47%, Nasdaq up 3.38%(Updates with mid-afternoon trading)Feb 2 (Reuters) - The Nasdaq and S&P 500 jumped and +touched roughly five-month highs on Thursday as a more +dovish-than-expected message from Federal Reserve Chair Jerome +Powell boosted equities and Meta Platforms shares soared on +rigorous cost controls.The Dow slipped, weighed down by declines in some big +healthcare stocks.Shares of megacap stocks Apple, Amazon and +Google parent Alphabet also were gaining strongly +ahead of their results due after the market closes.Investors were still digesting the Fed's policy decision on +Wednesday and comments from Powell, who acknowledged progress in +the fight against inflation and appeared reluctant to push back +against the rally in stocks and bonds.“Markets are just reacting to I think a more dovish press +conference from Powell yesterday,” said Anthony Saglimbene, +chief market strategist at Ameriprise Financial. “I think the +market got out of that Fed meeting still hoping that conditions +can be easier at the end of the year.”The Dow Jones Industrial Average fell 88.57 points, +or 0.26%, to 34,004.39, the S&P 500 gained 60.52 points, +or 1.47%, to 4,179.73 and the Nasdaq Composite added +399.57 points, or 3.38%, to 12,215.89.After a bruising 2022, U.S. stock markets have made a strong +start to the year, with tech and other stocks that lagged last +year leading the rebound amid hopes that the Fed will temper its +aggressive rate hikes, which in turn could alleviate some +pressure on equity valuations.Those trends continued on Thursday. The communications +services sector jumped over 6%, led by a 26% gain for Facebook +parent Meta. The company revealed stricter cost controls this +year and a $40 billion share buyback, as CEO Mark Zuckerberg +called 2023 the "year of efficiency."“I think that encapsulates what investors want to hear from +tech companies this year," Saglimbene said. "They want to hear +that it is a year of efficiency, they are getting out ahead of a +slowdown in the economy."The consumer discretionary and tech +sectors rose 3.9% and 2.9%, respectively.The energy sector, one of last year's standout +performers, fell 3%, while healthcare dropped 1%.UnitedHealth Group shares fell 5.6% after the U.S. +government proposed Medicare Advantage reimbursement rates below +analyst estimates, and the stock weighed down the Dow. A 3.9% +decline in Merck shares, after the drugmaker forecast +2023 earnings below Wall Street estimates, also dragged on the +blue chip index.Shares of drugmaker Eli Lilly fell 6% after sales of +its closely watched diabetes drug missed estimates.Data showed jobless claims fell last week to a nine-month +low, highlighting the labor market's resilience, ahead of +monthly U.S. employment numbers on Friday.Advancing issues outnumbered declining ones on the NYSE by a +2.70-to-1 ratio; on Nasdaq, a 3.12-to-1 ratio favored advancers.The S&P 500 posted 35 new 52-week highs and one new low; the +Nasdaq Composite recorded 140 new highs and 11 new lows. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi, Anil +D'Silva and Cynthia Osterman) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge.txt b/news/AAPL/2023.02.02/Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge.txt new file mode 100644 index 0000000000000000000000000000000000000000..f189214a0f7c2a18b82426aa8d3681c7f3fb8950 --- /dev/null +++ b/news/AAPL/2023.02.02/Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge.txt @@ -0,0 +1,49 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta soars on cost controls, $40 bln share buyback*Merck slides on disappointing forecast, UnitedHealth drops*S&P 500, Nasdaq hit roughly 5-month highs*Indexes: Dow down 0.11%, S&P up 1.47%, Nasdaq up 3.25%(Updates with after-hours trading of Apple, Amazon, Alphabet)Feb 2 (Reuters) - The Nasdaq and S&P 500 ended higher on +Thursday and touched roughly five-month highs as a more +dovish-than-expected message from Federal Reserve Chair Jerome +Powell boosted equities and Meta Platforms shares soared on +rigorous cost controls.The Dow slipped, dragged down by declines in some big +healthcare stocks.Investors were still digesting the Fed's policy decision on +Wednesday and comments from Powell, who acknowledged progress in +the fight against inflation and appeared reluctant to push back +against the rally in stocks and bonds.“I think the reaction to yesterday’s Fed comments really +encouraged investors to go risk on,” said Rick Meckler, partner +at Cherry Lane Investments in New Vernon, New Jersey. "The +bottom line for investors I think is that the Fed’s comments +were unexpected.”The Dow Jones Industrial Average fell 39.02 points, +or 0.11%, to 34,053.94, the S&P 500 gained 60.55 points, +or 1.47%, to 4,179.76 and the Nasdaq Composite added +384.50 points, or 3.25%, to 12,200.82.Shares of megacap stocks Apple, Amazon and +Google parent Alphabet also gained strongly ahead of +results due after market close on Thursday, with Apple rising +3.7%, and Amazon and Alphabet both up over 7%.In initial after-hours trading, however, shares of all three +companies fell after their respective results.After a bruising 2022, U.S. stock markets have made a strong +start to the year, with tech and other stocks that lagged last +year leading the rebound amid hopes that the Fed will temper its +aggressive rate hikes, which in turn could alleviate some +pressure on equity valuations.Those trends continued on Thursday. The communications +services sector jumped 6.7%, its biggest daily gain in +almost three years, led by a 23.3% surge for Facebook parent +Meta. The company revealed stricter cost controls this +year and a $40 billion share buyback, as CEO Mark Zuckerberg +called 2023 the "year of efficiency."The S&P 500's 50-day moving average moved above the 200-day +moving average, a pattern known as a "golden cross" that is +perceived by many as a bullish technical signal for near-term +momentum.The energy sector, one of last year's standout +performers, fell 2.5%, while healthcare dropped 0.7%.UnitedHealth Group shares fell 5.3% after the U.S. +government proposed Medicare Advantage reimbursement rates below +analyst estimates, and the stock weighed down the Dow. A 3.3% +decline in Merck shares, after the drugmaker forecast +2023 earnings below Wall Street estimates, also dragged on the +blue chip index.Shares of drugmaker Eli Lilly dropped 3.5% after +sales of its closely watched diabetes drug missed estimates.Data showed jobless claims fell last week to a nine-month +low, highlighting the labor market's resilience, ahead of +monthly U.S. employment numbers on Friday.Advancing issues outnumbered declining ones on the NYSE by a +2.29-to-1 ratio; on Nasdaq, a 2.55-to-1 ratio favored advancers.The S&P 500 posted 36 new 52-week highs and one new low; the +Nasdaq Composite recorded 162 new highs and 16 new lows.About 15 billion shares changed hands in U.S. exchanges, +compared with the 11.7 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi, Anil +D'Silva and Cynthia Osterman) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Nasdaq, S&P close higher on Meta bump, Fed lift.txt b/news/AAPL/2023.02.02/Nasdaq, S&P close higher on Meta bump, Fed lift.txt new file mode 100644 index 0000000000000000000000000000000000000000..0b9f8ac2cb242fae98b9bd1dc1af84e48fac6316 --- /dev/null +++ b/news/AAPL/2023.02.02/Nasdaq, S&P close higher on Meta bump, Fed lift.txt @@ -0,0 +1 @@ +The Dow dipped a tenth of a percent, but the S&P jumped nearly one-and-a-half percent and the tech-heavy Nasdaq soared three-and-a-quarter percent.George Ball, Chairman of Sanders Morris Harris, says tech stocks are seeing a bounce on the hopes that interest rates won't be going much higher."The Dow Jones averages are actually down - so big, old American stocks down because the economy looks fine, but not great. The Nasdaq, the tech, the companies that need to borrow at low interest rates, are booming up because Chairman Powell said, 'We think things are going to be alright.' It doesn't look like there are going to be rate increases beyond those that are already priced into the market and those are modest."The biggest winner Thursday among those tech stocks: Facebook parent Meta Platforms, which soared more than 23% a day after the company revealed stricter cost controls for 2023 and a $40 billion share buyback.Shares of megacaps Apple, Amazon and Google parent Alphabet also gained strongly ahead of results that came after the market close.But in initial after-hours trading, shares of all three companies fell after their respective results. \ No newline at end of file diff --git a/news/AAPL/2023.02.02/No-surprise rate hikes.txt b/news/AAPL/2023.02.02/No-surprise rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..2efcafd988604b7e8ee5fc53ac7f8455bbe0894b --- /dev/null +++ b/news/AAPL/2023.02.02/No-surprise rate hikes.txt @@ -0,0 +1,35 @@ + +"The more Powell talks, the more stocks and bonds go up". This comment, which graces the front page of Bloomberg's website this morning, is apt and sums up the mood of the moment. Yesterday, the U.S. central bank raised its key rate by 25 basis points, as expected. This comes after four hikes of 75 basis points and one of 50 basis points. The Fed Funds rate is now in the range of 4.50 to 4.75%. A year ago, it was close to zero (0.08% precisely in February). This is a measure of how far we have come in making money more expensive and, as was the plan, cooling inflation. + +That's for the mathematical part. As for the narrative, investors expected to get a bit of a slap on the wrist from Fed boss Jerome Powell. After all, they had given in to their penchant for optimism by moving back into risky assets, despite calls for caution from economists and central bankers. Instead, they got a soft Powell - a nicer version than they had imagined. And by soft, I mean a central banker who didn't use the usual codes of caution and seemed to give in. There were still some warnings, but investors focused on two things. First, the Fed acknowledged that inflation was falling. Second, it didn't seem particularly concerned about the risk taking seen since January 1. And when Powell got a little tougher, the market didn't believe him. It doesn't think that there will be two more rate hikes in the current cycle. Nor does it believe that a rate cut is unthinkable by the end of the year. +As a result, Wall Street up sharply after the press conference. The Nasdaq recovered 2.16% at the end of the day. This is the fourth time in ten sessions that the U.S. technology index gains more than 2%. The S&P500 was up 1.05% at the close. Penalized by its oil and health stocks, the Dow Jones limited its gains to 0.02%. If we had to summarize the session, tech blinked in fluorescent green and energy in red. +Today, the focus turned to the Bank of England and the ECB. The former is facing an inflation of 9.2% with key rates at 3.5%. The latter is facing an inflation of 8.5% with rates at 2.50%. Experts expected a 50 basis point tightening for both institutions, and that's what happened. +The Bank of England raised interest rates for the 10th consecutive time but dropped its pledge to continue to increase them "forcefully" if needed and said inflation had probably peaked. It voted to increase the Bank Rate to 4.0%. The European Central Bank raise rates to 2.5%. +At the same time, corporate earnings releases continue. After several disappointments, Meta Platforms delivered figures that reassured investors last night. The former Facebook was up 20% in after-hours trading, which helped fuel the rebound in technology stocks. Several dozen large companies are scheduled to report today, up to the trio of Apple, Amazon, Alphabet tonight after the close of Wall Street. In premarket trading, futures were up 1.7% on the Nasdaq 100 and 0.7% on the S&P 500, while the Dow was flat. +  +Economic highlights of the day: +We have the Challenger survey on layoffs (8:15 am), weekly jobless claims (10:30 am) and durable goods orders (10:00 am). All the agenda here. This morning, the Caixin Manufacturing PMI for China came in below expectations at 49.2 points, while the "official" PMI was in expansion territory.  +The dollar is up 0.2% against the euro to EUR 0.9105 and up 0.5% against the pound to GBP 8118. The ounce of gold is back up to 1953 dollars. Oil suffered yesterday, with North Sea Brent crude at USD 82.43 a barrel and U.S. light crude WTI at USD 76.08. The yield on 10-year US debt is down to 3.42%. Bitcoin remains near USD 23,000. +  +In corporate news: +* Meta Platforms jumped 19 percent in pre-market trading after announcing Wednesday night a $40 billion share buyback program, tighter cost controls this year and an upbeat forecast for its first-quarter revenue. Apple, Alphabet and Amazon, which will report results after the U.S. markets close, were up 1.1% to 4.3% in pre-market trading. +* Eli Lilly on Thursday raised its full-year profit target, expecting higher demand for its new diabetes drug Mounjaro. +* Estee Lauder raised its full-year sales forecast Thursday on solid demand for its products and an expected recovery in China, its largest market. +* Honeywell reported a 28.6% drop in fourth-quarter profit, hurt by supply problems and labor shortages. +* Merck reported a better-than-expected quarterly profit on strong Asian sales of its Covid-19 antiviral. The company's profit forecast for this year, however, came in below analysts' consensus, sending the stock down 1% in premarket trading. +* KKR has made a non-binding offer to acquire a majority stake in Telecom Italia's fixed-line telecommunications network, the Italian group said Thursday, adding that its board of directors would meet later today to discuss the deal. +* Boeing won a $1.62 billion contract from the U.S. Air Force to supply guidance systems for the Minuteman III intercontinental ballistic missile. +* Pinterest decided to lay off about 150 employees, less than 5 percent of its workforce, Bloomberg reported Wednesday. The stock was up 5.4 percent in premarket trading. +* Metlife reported a 33% drop in adjusted fourth-quarter profit on Wednesday. +  +Analyst recommendations: + +EasyJet: JP Morgan reiterates its Sell rating on the stock. The target price has been raised to GBp 370 from GBp 310. +Fedex: Citi upgrades to buy from neutral. PT up 19% to $240. +Goldman Sachs: Oppenheimer lifts price target to $463 From $441, Maintains Outperform rating +McDonald's: BofA Securities lowers PT to $297 from $303, Maintains Neutral rating +Meta Platforms: Piper Sandler upgrades to overweight from neutral. PT up 40% to $215. +Pets at Home: Liberum downgrades from buy to hold targeting GBp 390. +Standard Chartered: Goldman Sachs downgrades to neutral from buy. PT up 29% to 885 pence. +Stryker: DA Davidson raises price target to $290 From $250, Maintains Buy rating. + diff --git a/news/AAPL/2023.02.02/OECD offers final guidance for global minimum corporate tax.txt b/news/AAPL/2023.02.02/OECD offers final guidance for global minimum corporate tax.txt new file mode 100644 index 0000000000000000000000000000000000000000..82248626daaa325b0c42b8a655f71b9fe0a52210 --- /dev/null +++ b/news/AAPL/2023.02.02/OECD offers final guidance for global minimum corporate tax.txt @@ -0,0 +1 @@ +In the deepest overhaul of cross-border tax rules in a generation, nearly 140 countries had agreed in 2021 to apply a minimum tax rate of 15% on multinationals by committing to a top-up tax on profits booked in countries that have lower rates.The reform, which the OECD expects will yield an extra $220 billions in tax income globally, aims to update decades-old rules on cross-border tax for the digital age where tech giants like Apple and Google can book profits in low-tax countries such as Ireland.The OECD's final guidance aims to clarify lingering details so that governments adopt tax codes in a consistent and coordinated manner to limit compliance costs for companies and potential for conflicts.The OECD said it offered details particularly on how other governments should recognise an existing U.S. minimum tax known as the Global Intangible Low-Taxed Income, or GILTI, which covers patents, trademarks, or copyrights.The guidance, eagerly awaited by companies and tax advisors in addition to tax administrations, also fleshes out details on the scope of companies covered as well as operational and transition steps.The U.S. Treasury Department said the guidance would provide clarity, while protecting tax incentives such as the green tax credits contained in the Inflation Reduction Act.      "The continued progress in implementing the global minimum tax represents another step in levelling the playing field for U.S. businesses," said Assistant Secretary of the Treasury for Tax Policy Lily Batchelder. She said it will also protect U.S. workers and middle-class families by ending the race to the bottom in corporate tax rates.The overhaul is gathering steam ahead of implementation early next year after EU countries agreed in December on the roll out of the minimum tax across the 27-nation bloc. Japan is preparing its domestic legislation and Switzerland is due to hold a referendum in June.However, the outlook is less certain for separate plans under the overhaul to re-allocate 25% of profit from the world's largest multinationals for taxation in the countries where their clients are, regardless of their physical location. (Reporting by Leigh Thomas in Paris; Additional reporting by Andrea Shalal in Washington; Editing by Arun Koyyur) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Qualcomm forecasts earnings below expectations as smartphone demand worsens.txt b/news/AAPL/2023.02.02/Qualcomm forecasts earnings below expectations as smartphone demand worsens.txt new file mode 100644 index 0000000000000000000000000000000000000000..ee5c5e13586e5e23d29a744b9d80ae8992bbdf4d --- /dev/null +++ b/news/AAPL/2023.02.02/Qualcomm forecasts earnings below expectations as smartphone demand worsens.txt @@ -0,0 +1 @@ +Smartphone shipments dropped 18.3% in the quarter ended Dec. 31 marking the largest ever quarterly slump, according to data from research firm IDC, as even the holiday shopping season could not revive battered consumer spending amid rising prices. Shipments hit a nine-year low at 1.21 billion units in 2022, IDC added.The weakness in demand for lower-end phones has also begun to hit premium devices, which fetch companies like Qualcomm higher prices for their chips. A supply glut in the smartphone market, which was the one of the first to show softening in demand following soaring pandemic-led growth, is an added blow.Smartphone chip firms including Apple supplier Qorvo forecast downbeat earnings as its customers continued to clear bloated inventory. Analysts at Cowen expect smartphone shipments will fall 4% this year as recovery in China demand will take some time following a big COVID-19 outbreak. Revenue from its handset business, which makes up the largest chunk of total sales, fell 18%, compared to a 40% growth in the previous quarter.The chipmaker expects revenue in the current quarter to be in the range of $8.7 billion to $9.5 billion, compared with analysts' estimates of $9.55 billion, according to Refinitiv data.It expects adjusted earnings per share to be between $2.05 and $2.25, compared to analysts expectations of $2.26 per share. (Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee in Oakland; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Qualcomm sees earnings below Street as smartphone market sags.txt b/news/AAPL/2023.02.02/Qualcomm sees earnings below Street as smartphone market sags.txt new file mode 100644 index 0000000000000000000000000000000000000000..0c2c0953900adcd987f4379d92e678684e0617db --- /dev/null +++ b/news/AAPL/2023.02.02/Qualcomm sees earnings below Street as smartphone market sags.txt @@ -0,0 +1,45 @@ +(Updates with additional quote, changes second paragraph, adds +detail on Apple iPhone sales)BENGALURU/OAKLAND, Calif. Feb 2 (Reuters) - Qualcomm Inc +forecast second-quarter revenue and profit below Wall +Street estimates on Thursday as the chipmaker grapples with the +combined toll of weak demand for smartphones and a supply glut, +a situation that is expected to persist into the first-half of +this year.Inflation and macroeconomic uncertainty have hurt consumer +electronics sales, and while Qualcomm has been somewhat buffered +by its focus on premium smartphones, analysts said even that +market has been hit.The stock, which initially rose 2.7% in after-hours trading, +fell 3%."The handset industry continues to experience reduced +demand, and we are now expecting elevated channel inventory +levels to persist at least through the first half of calendar +2023," Cristiano Amon, Qualcomm CEO told investors.To cope, he said the company would further cut spending and +streamline operations.On Wednesday, Samsung Electronics launched its latest Galaxy +S23 series smartphone which now uses 100% of Qualcomm processors +globally, but the launch comes at a tough time in the market."Discussions with mobile service providers revealed a +continued and deepening weakness in smartphone demand globally +which doesn't bode well for Qualcomm," said Maribel Lopez, tech +analyst at Lopez Research.Apple, the world's largest listed company, said iPhone sales +fell last quarter for the first time since 2020.Qualcomm has also diversified, pushing into new fast-growing +areas such as automotive. Revenue for that business in the +fiscal first quarter rose 58% on year to $456 million, although +the company expects that to be sequentially flat in the current +quarter.The chipmaker forecast current quarter revenue in the range +of $8.7 billion to $9.5 billion, compared with analysts' +estimates of $9.55 billion, according to Refinitiv data.Its fiscal first quarter revenue dropped 12% year-on-year to +$9.46 billion, below Wall Street expectation of $9.60 billion."I don't think we have hit rock bottom (for the smartphone +market) yet. We still have a rough year ahead," said IDC analyst +Nabila Popal. "Real recovery is not likely until 2024."First quarter revenue from Qualcomm's handset business, +which makes up the largest chunk of total sales, fell 18% on +year to $5.75 billion, compared to 40% growth in the previous +quarter.It expects adjusted earnings per share to be between $2.05 +and $2.25, compared to analysts expectations of $2.26 per share.In the first quarter, Qualcomm reported adjusted earnings +per share of $ 2.37, which compares with the analyst consensus +of $2.34 per share, according to Refinitiv data.Qualcomm also said during the earnings call that it doesn't +expect its current licenses to export 4G, Wi-Fi and other chips +to Chinese telecom giant Huawei to be impacted by +reports that the U.S. Commerce Department has stopped granting +export licenses to Huawei."Those licenses were issued because Congress reached the +determination that they don't affect national security issues. +Those will continue for some number of years," Alex Rogers, +president of Qualcomm Technology Licensing and Global Affairs +said on the call with investors.(Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee in +Oakland; Editing by Shailesh Kuber and Anna Driver) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Sen. Michael Bennet asks Apple, Google, to remove TikTok from app stores.txt b/news/AAPL/2023.02.02/Sen. Michael Bennet asks Apple, Google, to remove TikTok from app stores.txt new file mode 100644 index 0000000000000000000000000000000000000000..aaf470fd60329ee8e2ce2b670a240aa58c56b5a4 --- /dev/null +++ b/news/AAPL/2023.02.02/Sen. Michael Bennet asks Apple, Google, to remove TikTok from app stores.txt @@ -0,0 +1 @@ +Sen. Michael Bennet, D-Colo., sent a letter to the CEOs of Apple and Google on Thursday asking them to remove TikTok from their app stores.TikTok has come under scrutiny since it was revealed last year that employees of its parent company ByteDance had repeatedly accessed the data of United States TikTok users. An internal audit by ByteDance revealed that employees had used TikTok to spy on journalists in the United States."I write this with grave concern about the presence of TikTok on the Apple App Store and Google Play Store," Bennet wrote in a letter addressed to Apple CEO Tim Cook and Google CEO Sundar Pichai."Like most social media platforms TikTok collects vast and sophisticated data from its users, including faceprints and voiceprints. Unlike most social media platforms, TikTok poses a unique concern because Chinese law obligates ByteDance, its Beijing-based parent company, to 'support, assist, and cooperate with state intelligence work,'" Bennet said.Criticism of TikTok has been largely bipartisan, Sen. Marco Rubio, R-Fla., who sits on the Senate Select Committee on Intelligence with Bennet, has also raised concerns about TikTok."I don't know how our national security interests and operation of TikTok in this country as long as it's owned by ByteDance, can coexist," Rubio told CBS Face the Nation last month.TikTok CEO Shou Zi is scheduled to appear before the House Energy and Commerce Committee to discuss customer privacy in March.Copyright 2023 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News \ No newline at end of file diff --git a/news/AAPL/2023.02.02/South Korean shares flat, set for first weekly loss in five.txt b/news/AAPL/2023.02.02/South Korean shares flat, set for first weekly loss in five.txt new file mode 100644 index 0000000000000000000000000000000000000000..39e460f33b80265cc8cb5f4cd652f6bdf8cfd0b6 --- /dev/null +++ b/news/AAPL/2023.02.02/South Korean shares flat, set for first weekly loss in five.txt @@ -0,0 +1,25 @@ +*KOSPI falls, foreigners net buyers*Korean won weakens against dollar*South Korea benchmark bond yield fallsSEOUL, Feb 3 (Reuters) - Round-up of South Korean +financial markets:** South Korean shares were unchanged on Friday as cautious +investors awaited U.S. employment data, but the benchmark index +was set for its first weekly fall for this year.** The won weakened, while the benchmark bond yield fell.** The benchmark KOSPI was marginally down, by 2.54 +points, or 0.08%, at 2,466.34 as of 0129 GMT.** For the week so far, the KOSPI is down more than 0.5% +after posting four straight weekly gains.** "It seems there is some resistance near the latest peak, +capping the upside for the index, although internet stocks +tracked NASDAQ peers sharply higher," said Choi Yoo-june, an +analyst at Shinhan Securities.** Investors' focus is also on U.S. employment data due +later in the day.** Technology giant Samsung Electronics rose +0.16%, but peer SK Hynix dropped 2.14% and battery +maker LG Energy Solution declined 0.19%.** Search engine Naver jumped 5.67% after it +reported its fourth-quarter results, slightly weaker than a year +before. Instant messenger Kakao rose 2.79%.** Peer tech firms in the U.S. jumped overnight, led by Meta +Platforms. But most of them reversed course during after-hour +trades, as Apple forecast its revenue to fall for a +second quarter in a row.** Of the total 931 issues traded, 313 shares advanced.** Foreigners were net buyers of shares worth 126.9 billion +won ($103.52 million).** The won was quoted at 1,224.8 per dollar on the onshore +settlement platform, 0.37% lower.** The currency was up 0.4% for the week, set for its fourth +straight weekly gain.** In money and debt markets, March futures on three-year +treasury bonds rose 0.22 point to 105.32.** The most liquid three-year Korean treasury bond yield +fell by 4.9 basis points to 3.132%, while the benchmark 10-year +yield fell by 4.4 basis points to 3.163%. +($1 = 1,225.9000 won) +(Reporting by Jihoon Lee; editing by Uttaresh.V) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Stocks climb, U.S. yields fall on central bank pause hopes.txt b/news/AAPL/2023.02.02/Stocks climb, U.S. yields fall on central bank pause hopes.txt new file mode 100644 index 0000000000000000000000000000000000000000..304d231e2a931b2e89ae78708893ce496bc780e5 --- /dev/null +++ b/news/AAPL/2023.02.02/Stocks climb, U.S. yields fall on central bank pause hopes.txt @@ -0,0 +1,43 @@ +*Markets see Fed, BoE and ECB rate hike cycle end on +horizon*Dollar bounces after biggest daily pct drop in a monthNEW YORK, Feb 2 (Reuters) - A gauge of global stocks +rallied and U.S. Treasury yields mostly fell on Thursday, as +policy announcements from a string of central banks fueled +optimism that interest rate hike cycles may be nearing an end.After the U.S. Federal Reserve raised rates by 25 basis +points (bps), as was widely expected, on Wednesday, markets +rallied following comments from Fed Chair Jerome Powell +acknowledging the "disinflationary" process may have begun.The European Central Bank (ECB) and Bank of England (BoE) +hiked by 50 basis points each on Thursday, with the BoE +signaling the tide was turning against inflation and the ECB +indicating at least one more hike was on the horizon.On Wall Street, the S&P 500 and Nasdaq climbed, with the S&P +500 touching its highest intraday level since Aug. 26 and the +Nasdaq hitting its highest since Sept. 12, getting an additional +boost from a 24.24% surge in Facebook parent Meta Platforms Inc +following its quarterly results and $40 billion buyback +announcment."Central banks are in data-dependant mode, but that means +that they’re no longer in control and so markets are basically +leading the central banks at the moment," said Mazen Issa, +senior FX strategist at TD Securities in New York."It sounds like they may be nearing a pause. That doesn’t +necessarily mean that they’ll be cutting rates immediately, but +it means that its going to be much more difficult to price in +higher rates from here, at least for now."The Dow Jones Industrial Average fell 93.99 points, +or 0.28%, to 33,998.97; the S&P 500 gained 59.88 points, +or 1.45%, to 4,179.09; and the Nasdaq Composite added +351.13 points, or 2.97%, to 12,167.45.On the economic front, weekly initial jobless claims dropped +to a nine-month low, showing the labor market remains strong, +while worker productivity in the fourth quarter accelerated. +Investors will eye the January payrolls report on Friday for +further signs of labor market strength.After the closing bell, investors will see earnings from +heavyweights Apple Inc and Amazon.com IncEuropean stocks rallied, with the STOXX 600 poised for its +biggest one-day percentage gain in a month after hitting its +highest intraday level since late April.The pan-European STOXX 600 index rose 1.37% and +MSCI's gauge of stocks across the globe gained +1.21%.Benchmark 10-year notes were down 4 basis points +to 3.358%, from 3.398% late on Wednesday.The dollar bounced, however, from its biggest one-day +percentage drop in nearly a month on Wednesday, while the euro +also weakened following the ECB announcement.The dollar index rose 0.594%, with the euro +down 0.59% to $1.0924.The Japanese yen strengthened 0.44% versus the +greenback at 128.39 per dollar, while Sterling was last +trading at $1.2269, down 0.86% on the day.In commodities, oil prices slipped, with U.S. crude +recently falling 0.69% to $75.88 per barrel and Brent at +$82.23, down 0.74% on the day.(Reporting by Chuck Mikolajczak; additional reporting by Karen +Brettell; editing by Jonathan Oatis) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Stocks rally, U.S. yields flat on hopes for central banks pause.txt b/news/AAPL/2023.02.02/Stocks rally, U.S. yields flat on hopes for central banks pause.txt new file mode 100644 index 0000000000000000000000000000000000000000..d65fe02e87ec86be96234145632ba80284116127 --- /dev/null +++ b/news/AAPL/2023.02.02/Stocks rally, U.S. yields flat on hopes for central banks pause.txt @@ -0,0 +1,50 @@ +*Markets see Fed, BoE and ECB rate hike cycle end on +horizon*Dollar bounces after biggest daily pct drop in a monthNEW YORK, Feb 2 (Reuters) - A gauge of global stocks +climbed for a third straight day and longer-dated U.S. Treasury +yields were flat on Thursday, as policy announcements from a +host of central banks added to optimism that the cycles of +interest rate hike cycles may be near an end.After the U.S. Federal Reserve raised rates by 25 basis +points (bps) on Wednesday, as was widely expected, markets +rallied following comments from Fed Chair Jerome Powell +acknowledging the "disinflationary" process may have begun.The European Central Bank (ECB) and Bank of England (BoE) +hiked by 50 basis points each on Thursday, with the BoE +signaling the tide was turning against inflation and the ECB +indicating at least one more hike was on the horizon.On Wall Street, the S&P 500 and Nasdaq rallied, with the S&P +500 touching its highest intraday level since Aug. 26 and the +Nasdaq hitting its highest since Sept. 12, getting an additional +boost from a 27.06% surge in Facebook parent Meta Platforms Inc +following its quarterly results and $40 billion buyback +announcement."The market has a different outlook. Judging from past +forecasts, the Fed is pretty awful. Also, the Fed knows the +economy is slowing but Fed Chairs never come out and say these +things," Steven Blitz, Chief U.S. Economist at TS Lombard told +the Reuters Global Markets Forum."So the market sees through this, and after being fooled in +2021 into believing no hikes into 2024 and they are not as +readily willing to be fooled into believing no cuts until 2024."The Dow Jones Industrial Average fell 37.98 points, +or 0.11%, to 34,054.98 while the S&P 500 gained 68.63 +points, or 1.67%, to 4,187.84 and the Nasdaq Composite +added 426.53 points, or 3.61%, to 12,242.85.On the economic front, weekly initial jobless claims dropped +to a nine-month low, showing the labor market remains strong, +while worker productivity in the fourth quarter accelerated. +Investors will eye the January payrolls report on Friday for +further signs of labor market strength.After the closing bell, earnings from heavyweights Apple Inc +and Amazon.com Inc are scheduled to be +released. With 46% of the S&P 500 having reported results, +earnings for the quarter are expected to decline from the +year-ago period, according to Refinitiv data, compared with a +1.6% expected decline at the start of the year.European stocks also jumped, with the STOXX 600 closing at +its highest level since April 21 as it notched its biggest +one-day percentage gain in a month.The pan-European STOXX 600 index rose 1.35% and +MSCI's gauge of stocks across the globe gained +1.31%. The MSCI index hit its highest intraday level since May 5 +and was on track for its ninth gain in the past ten sessions.Benchmark 10-year notes were unchanged to 3.398% +after yields earlier had moved lower.The dollar bounced, however, from its biggest one-day +percentage drop in nearly a month on Wednesday, while the euro +also weakened following the ECB announcement.The dollar index rose 0.674%, with the euro +down 0.64% to $1.0919.The Japanese yen strengthened 0.34% versus the +greenback at 128.51 per dollar, while sterling was last +trading at $1.2249, down 1.03% on the day.In commodities, oil prices were slightly higher, with U.S. +crude recently rose 0.37% to $76.69 per barrel and Brent +at $82.99, up 0.18% on the day.(Reporting by Chuck Mikolajczak; additional reporting by Karen +Brettell and Lisa Pauline Mattackal; editing by Jonathan Oatis +and Chizu Nomiyama) \ No newline at end of file diff --git a/news/AAPL/2023.02.02/Tech earnings hit pause button on market rally.txt b/news/AAPL/2023.02.02/Tech earnings hit pause button on market rally.txt new file mode 100644 index 0000000000000000000000000000000000000000..377052e8cc9d1dcc5c44819b5cbb3ca0821be082 --- /dev/null +++ b/news/AAPL/2023.02.02/Tech earnings hit pause button on market rally.txt @@ -0,0 +1 @@ +Apple Inc, Google parent Alphabet and Amazon.com all posted results for the end-of-year quarter that left a sour taste in investors' mouths. The reports renewed questions about global economic demand, the effect of higher interest rates and whether the market's January rally got ahead of itself.Nascent signs that consumer spending was beginning to rebound in China were not enough to change that.Apple, the world's largest publicly traded company, fell short of expectations, hurt by lower iPhone sales and production disruptions in China. Amazon said operating profits could fallthis quarter due to lower demand, and Alphabet's online advertisers cut back their spend as well. Shares of the three companies dropped after the results were released and were expected to drag the market lower Friday following a euphoric rally Thursday. "Maybe the tech stocks rallied a little bit too much into these numbers, so the market will be taking a deep breath and saying, 'OK, well these companies aren't bulletproof,'" said Daniel Morgan, senior portfolio manager at Synovus Trust Company in Atlanta, Georgia. These three firms and Microsoft, the four U.S. companies with trillion-dollar market values, have led the broad-market S&P 500 in 2023. The index is up nearly 9% year-to-date, with Amazon gaining 34%. Big Tech surged Thursday following a strong quarterly report from Facebook-owner Meta Platforms Inc.That's after the group was battered throughout 2022, trailing the S&P, which dropped nearly 20%. Some investors saw silver linings from Apple and other bellwethers, including Starbucks, that reported results on Thursday. They noted that lockdowns in China strangled sales for many companies in the world's second-biggest economy, expecting a rebound in the coming year. "When things started to reopen in December (in China), we did see an increase in traffic to our stores as compared to November and an increase in demand as December rolled around," Apple Chief Executive Tim Cook told Reuters.Cook said lockdowns in China hurt both production and demand, and the company faced headwinds from the strong U.S. dollar that pushed revenues lower."Currency was a headwind but will be a tailwind in Q1," said Nancy Tengler, chief executive of Laffer Tengler Investments in Scottsdale, Arizona, referring to the dollar's weakening trajectory. "The supply chain was a problem more so than demand, and that seems to have been right-sized." Similarly, Starbucks said comparable sales fell 29% from the previous year in China, the company's fastest-growing market, but that beginning in January, it saw "very encouraging" recovery momentum there. Other U.S. consumer bellwethers painted a mixed picture. Consumer staples giant Clorox said product volumes fell in three of the company's four business segments in the fourth quarter, while automaker Ford said the year ahead was going to be a difficult one. They, and other companies, are still grappling with higher interest rates that are slowing demand. This year's surge in stocks has been built on a rally in bonds, as lower yields make high-valuation shares more attractive. Cost-cutting by Alphabet and Meta led some investors to think that interest rates are affecting demand."In many respects we're waiting for that other shoe to drop - the impact of higher rates on the economy, inflation, earnings and jobs," said Jack Ablin, co-founder and chief investment officer at Cresset Capital, which manages $30 billion. "Profits tend to trough nine months after overnight rates peak and we haven't even seen the peak in overnight rates yet." (Reporting By Herbert Lash, Caroline Valetkevitch and David Gaffen; writing by David Gaffen; Editing by Peter Henderson and Cynthia Osterman)By Caroline Valetkevitch and Herbert Lash \ No newline at end of file diff --git a/news/AAPL/2023.02.02/U.S. senator urges Apple, Google to ban TikTok.txt b/news/AAPL/2023.02.02/U.S. senator urges Apple, Google to ban TikTok.txt new file mode 100644 index 0000000000000000000000000000000000000000..aed93f132b980b3ecfec48438cc957f652e07762 --- /dev/null +++ b/news/AAPL/2023.02.02/U.S. senator urges Apple, Google to ban TikTok.txt @@ -0,0 +1 @@ +Democrat Michael Bennet, a member of the Senate Intelligence Committee, on Thursday sent a letter to Apple CEO Tim Cook and Alphabet Chief Executive Sundar Pichai saying TikTok should be removed from both the Apple and Google Play app stores.Congress has already banned TikTok, which is owned by Chinese company ByteDance, from federal government devices.The social media app, which showcases short videos, has come under increasing criticism because of concern that China's government could use it to harvest data on Americans or to advance Chinese interests.In his letter to Cook and Pichai, Sen. Bennet wrote (quote), "No company subject to CCP (Chinese Communist Party) dictates should have the power to accumulate such extensive data on the American people or curate content to nearly a third of our population.... Given these risks, I urge you to remove TikTok from your respective app stores immediately."Prior to Bennet's letter, Republicans have largely led the charge on TikTok and its potential national security concerns, although Democratic Senator Dick Durbin previously urged Americans to stop using the app.In the U.S. House of Representatives, which is now in Republican hands, the Foreign Affairs Committee plans to hold a vote this month on a bill aimed at blocking TikTok's use in the U.S.In 2020, then-President Donald Trump attempted to block new users from downloading TikTok, but the move was rebuffed by the courts.For its part, the company says that China's government cannot access the personal data of U.S. citizens or manipulate the app's content. \ No newline at end of file diff --git a/news/AAPL/2023.02.03/A little reality check to end the week?.txt b/news/AAPL/2023.02.03/A little reality check to end the week?.txt new file mode 100644 index 0000000000000000000000000000000000000000..cda8f07715e4db600905bd3f7e1e2cd2ba49cb3e --- /dev/null +++ b/news/AAPL/2023.02.03/A little reality check to end the week?.txt @@ -0,0 +1,50 @@ + +It took everyone by surprise: Employers added 517,000 jobs in January, up from 260,000 in December. This is way higher than the 188,000 expected in a Bloomberg consensus. The unemployment rate is down to 3.4 percent, the lowest since 1969. +This data shows that the Fed's task isn't done and that efforts to cool the labor market to tame inflation have not been working as well as hoped. This comes on the heel of poor results from U.S. tech stocks. Will this be dampening investor optimism? As I write these lines, futures on the Nasdaq are down 2.2%. + +Until now, investors thought the direction of U.S. monetary policy had taken a sufficiently positive turn and that other concerns were secondary. The rotation to riskier bets became the dominant bet. Goodbye Healthcare, Oil, Defense and hello Real Estate, Technology and Consumer Discretionary. +Let's talk about complacency, without denying our pleasure to see a nice recovery across equity markets in the past few sessions. Complacency is what creates asset bubbles. It is a mixture FOMO, following the crowd and intellectual laziness. It comes back as soon as the appetite for risk grows and it is what contributes to create the imbalances that will cause the next bear markets. The speed at which markets have been returning to speculative territory lately is astounding. At the close yesterday, the Nasdaq 100 had rallied 22.6% from its October low, which means that it meets the technical definition of a "bull market," an event that while not rare is not that common. The technology index is up 17% since January 1, after jumping another 3.5% yesterday. In Europe, the same pattern can be seen with major indices up sharply: 2.1% for the DAX and 1.3% for the CAC40 for example. +The very principle of the recovery makes sense given the scenario that is taking shape, but its magnitude raises questions. In the minds of investors, the main hurdle facing the market recovery was the US central bank and its restrictive monetary policy. The underlying macroeconomic environment was a distant second. Let's talk about both. +The Fed on Wednesday gave the impression that it had missed its communication exercise. When it said gray, the market heard white. And when it said black, the market didn't listen at all. Investors are forgetting about the famous adage "Don't Fight the Fed," which means that betting against U.S. monetary policy is a doomed enterprise. They believe that the end of rate hikes is imminent - although the latest employment figures might give them food for thought - and they seem confident that rates will not remain high in the medium term. +It is on the second point, the macroeconomic context, that there should be more debate in the weeks to come. Overnight, Apple, Amazon and Alphabet all reported results below expectations. All three stocks have dropped. The turmoil in the quarterly performance of the tech stars - Meta being the exception - is a sign that the conveyor belt of the Fed's restrictive monetary policy has begun to take its toll on the economy, even on those parts deemed to be the most protected. This makes sense, but it will lead analysts, who are generally slow to revise their expectations, to correct their course this quarterly season. This is a point of vigilance, even if the driving force in the weeks to come clearly remains the dynamics of monetary policy. +In other news, the recovery of the Chinese economy was confirmed by the publication of a Caixin services PMI indicator back in the expansion zone, with stronger momentum than economists had expected. It is impossible to ignore the debacle of the Adani empire on the Bombay stock exchange, with the share price of the leading holding company Adani Enterprises collapsing by more than 25% today. This crisis is causing a stir even in the Indian parliament and casting a pall of suspicion over other leading companies in the country. The plunge was triggered by the publication on January 24 of a damning report by short-seller Hindenburg Research. +Let's end with a little heads-up: My colleague Greg Legrand will take over this column for the next two week, as I'm going on a well-deserved vacation… Do not worry, I'm leaving you in good hands! +  +Economic highlights of the day: +The second reading of the services PMI indices of the major economies in January and US employment figures for January are today's main indicators, as well as the ISM services index. All the agenda is here. Overnight, China's Caixin services PMI for January rose to 52.9 points, much higher than expected. +The dollar gained 0.6% against the euro to EUR 0.9233 and gained 0.9% against the pound to GBP 0.8259. The ounce of gold fell to USD 1884. Oil remains under pressure, with North Sea Brent at USD 82.18 a barrel and U.S. light crude WTI at USD 75.86. The yield on 10-year US debt is still falling at 3.37%. Bitcoin is back up around USD 23,500. +  +In corporate news: +* Apple on Thursday reported a lower-than-expected quarterly profit for the first time since 2016 due to weak iPhone sales and said it expects its revenue to decline for a second straight quarter. The group was losing nearly 4% in pre-market trading. +* Amazon warned Thursday that its operating profit was likely to continue to fall in the current quarter as massive layoffs were not enough to offset lower spending by consumers and customers of its cloud services. In pre-market trading, the global online retail giant was losing more than 4%. +* Alphabet was down 4.5% in premarket trading after reporting lower-than-expected quarterly revenue and profit on Thursday as Google's parent company's advertising business suffers from the economic slowdown. +* Ford lost 5.3% in premarket trading as the automaker reported a drop in quarterly profit on Thursday and forecast a tough year. +* Qualcomm lost 3.6% in pre-market trading after reporting lower-than-expected second-quarter revenue and profit on Thursday, as the chipmaker was hurt by weak demand for smartphones and a supply glut, a trend that is expected to continue in the first half of the year. +* Regeneron on Friday reported better-than-expected fourth-quarter profit as strong demand for its eczema treatment Dupixent helped offset lower sales of its blockbuster macular degeneration drug Eylea. +* Coffee chain Starbucks reported a quarterly sales decline in China four times larger than its own estimate and said it had no visibility on the timing of a full recovery in the country. The group was down 2.5% before the opening. +* Tesla sold 66,051 electric vehicles manufactured in China in January, up 18% from December, according to data released Friday by the China Passenger Car Association (CPCA). In addition, the group has cut prices on some of its models in South Korea, a local sales official for the U.S. automaker said Friday. The stock was up 1% before the opening. +* Gilead was up 3.5 percent in premarket trading after reporting higher-than-expected fourth-quarter profit on Thursday, helped by strong demand for its HIV and cancer drugs, while Veklury, its COVID-19 antiviral, saw sales double market expectations. +* Cigna Insurance Group on Friday reported quarterly earnings above Wall Street estimates, helped by a sharp drop in medical costs due to fewer COVID-19-related hospitalizations. +* Nordstrom - Activist investor Ryan Cohen is acquiring a significant stake in the department store chain and is looking to push the group to overhaul its board, according to sources familiar with the matter. The stock was up more than 30 percent in premarket trading. +* Silvergate - Federal prosecutors are investigating the cryptocurrency specialist and its relationship with cryptoasset exchange FTX and Sam Bankman-Fried's trading firm Alameda Research, according to a source familiar with the matter. The stock was listed down 12.5%. +* Carlyle is in talks to hire former Goldman Sachs bank executive Harvey Schwartz as its new chief executive, Semafor reported Thursday, citing sources familiar with the matter. +* Kohl's announced the appointment of Tom Kingsbury as chief executive, a position he already holds on an interim basis. +  +Analyst recommendations: + +Alphabet: Morgan Stanley upgrades to $135 from $125. Maintains overweight rating. +Apple: JP Morgan has maintained its recommendation on the stock with a Buy rating. The target price differs slightly and is now set at USD 175 versus USD 180. +Asos: Deutsche Bank downgrades from buy to hold targeting GBp 950. +Bakkavor: HSBC downgrades from hold to low, targeting GBp 100. +Boeing: RBC Capital Markets downgrades to sector perform from outperform. PT up 7.5% to $225. +Cardinal Health: Baird upgrades to outperform from neutral. PT up 23% to $94. +C.H. Robinson: Stifel downgrades to hold from buy. PT down 5.2% to $99. +Cognizant: Baird downgrades to neutral from outperform. PT down 3.8% to $68. +Direct Line: Barclays downgrades to underweight from equal-weight. PT down 7.7% to 173 pence. +Marks and Spencer: Deutsche Bank upgrades to buy from hold. PT up 30% to 210 pence. +Meta Platforms: DZ Bank upgrades to hold from sell. PT down 4.6% to $180. +Pets at Home: Deutsche Bank downgrades to hold from buy. PT down 4.7% to 355 pence. +SLM: Wells Fargo Securities downgrades to equal-weight from overweight. PT jumps 8.1% to $16. +Standard Chartered: Investec upgrades to buy from hold. PT up 11% to 740 pence. +Starbucks: Fubon Securities downgrades to neutral from buy. PT up 12% to $122. + diff --git a/news/AAPL/2023.02.03/APPLE INC : Buy rating from Deutsche Bank.txt b/news/AAPL/2023.02.03/APPLE INC : Buy rating from Deutsche Bank.txt new file mode 100644 index 0000000000000000000000000000000000000000..99641c928f2e7aa97203a698d38b319d946eea98 --- /dev/null +++ b/news/AAPL/2023.02.03/APPLE INC : Buy rating from Deutsche Bank.txt @@ -0,0 +1 @@ +Analyst Sidney Ho from Deutsche Bank research considers the stock attractive and recommends it with a Buy rating. The target price is still set at USD 160. \ No newline at end of file diff --git a/news/AAPL/2023.02.03/APPLE INC : Credit Suisse reiterates its Buy rating.txt b/news/AAPL/2023.02.03/APPLE INC : Credit Suisse reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..a99f66a0e353e30af46313f3e6a4e0b51d8a1e59 --- /dev/null +++ b/news/AAPL/2023.02.03/APPLE INC : Credit Suisse reiterates its Buy rating.txt @@ -0,0 +1 @@ +Already positive, the research from Credit Suisse and its analyst Shannon Cross still consider the stock as a Buy opportunity. The target price remains set at USD 184. \ No newline at end of file diff --git a/news/AAPL/2023.02.03/APPLE INC : Receives a Buy rating from JP Morgan.txt b/news/AAPL/2023.02.03/APPLE INC : Receives a Buy rating from JP Morgan.txt new file mode 100644 index 0000000000000000000000000000000000000000..1d5ef4090785903f5a2d41f27c2b9fdba4f5ee52 --- /dev/null +++ b/news/AAPL/2023.02.03/APPLE INC : Receives a Buy rating from JP Morgan.txt @@ -0,0 +1 @@ +In a research note, JP Morgan analyst Samik Chatterjee has maintained his recommendation on the stock with a Buy rating. The target price differs slightly and is now set at USD 175 versus USD 180. \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Analysis-From Meta to Microsoft, AI's big moment is here.txt b/news/AAPL/2023.02.03/Analysis-From Meta to Microsoft, AI's big moment is here.txt new file mode 100644 index 0000000000000000000000000000000000000000..c429b7e146c01d6520578bb1ca3616889273517f --- /dev/null +++ b/news/AAPL/2023.02.03/Analysis-From Meta to Microsoft, AI's big moment is here.txt @@ -0,0 +1 @@ +This week, chief executives across the sector packed earnings calls with mentions of the heavily hyped technology, which until recently existed more in the background than as a solid contributor to the bottom line.In conference calls after financial results, tech execs uttered the phrases "AI," "generative AI," or "machine learning" from two to six times as often as they did in the previous quarter, according to a review of conference transcripts by Reuters. Executives from Microsoft Corp and Alphabet Inc, behind the latest big rivalry in tech, took their battle to the conference-call front lines. On Thursday, Alphabet appeared to edge out the competition. The Google-owner's call referred to AI 45 times, up from 13 times at the end of the third quarter, outpacing Microsoft, whose call was peppered with 39 references, up from 15 in the previous quarter.The release of software that can generate virtually text and images, exemplified by ChatGPT, a chatbot from the startup OpenAI, has set off a race to integrate AI into more products and for investors to bet on which company will emerge on top.Microsoft's investment in OpenAI and aggressive efforts to make ChatGPT widely available to its cloud customers, among other plans, represent a new challenge to Alphabet. Industry observers have said embedding human-like, ChatGPT-style responses in Microsoft's Bing search engine could give it a leg up on Alphabet's Google, long the information search leader.In a potential nod to the public's ChatGPT fixation, Alphabet CEO Sundar Pichai said Google remained in the game."We'll pursue this work boldly, but with a deep sense of responsibility," he said.AI software will be an important focus for Alphabet, which is planning to make its own LaMDA chatbot software publicly available in the coming weeks, he added.David Heger, an analyst with Edward Jones, said Google was opening up more about its large AI investments after staying quiet."They were much more vocal about how that benefits pretty much all parts of their business and how they expect that to be further integrated into their business going forward," he said.SHAPING SOCIAL MEDIASnap Inc CEO Evan Spiegel said on the social media company's fourth-quarter call that generative AI would be critical over the next five years to growing augmented reality (AR), which is important to its business.That technology, which overlays computerized images onto the real world, is currently limited because artists must build 3D models, but generative AI can speed up the process, Spiegel said."Imagine playing around with your kids wearing AR glasses and saying, 'oh my gosh, there's a pirate ship and a big monster.' We can bring those to life using generative (AI) art, which I think is really exciting," he said.Mark Zuckerberg likewise called generative AI "an extremely exciting new area" on Wednesday during a conference call that referenced the phrase 30 times, up from 22 times in the previous quarter. The Facebook founder and CEO of Meta Platforms Inc, whose shares rocketed 20% after reporting financial results, said users could expect the company to "launch a number of different things this year" in generative AI.Meta plans to incorporate the new technology across almost all its products, such as generating images, videos, avatars and 3D assets, Zuckerberg said. The software will  help content creators produce more across Meta's apps, he added. And marketers could use generative AI to help with written copy for their paid posts or create imagery and video, Nicola Mendelsohn, vice president of the global business group for Meta, said in an interview."One of my goals for Meta is to build on our research to become a leader in generative AI," said Zuckerberg.Even at Apple Inc, where hardware such as the iPhone has reigned supreme, AI is a big part of the future.Asked by an analyst about Apple's AI strategy, Chief Executive Tim Cook said Thursday the company is using such tech to power features like car crash detection in its iPhone and Apple Watch, and that it will be applied throughout Apple's products and services."We see an enormous potential in this space to affect virtually everything we do," Cook said. "It's obviously a horizontal technology, not a vertical. And so it will affect every product and every service that we have." (Reporting By Sheila Dang, Greg Bensinger, Stephen Nellis, Nivedita Balu, Tiyashi Datta, Chavi Mehta, Yuvraj Malik and Jeffrey Dastin; editing by Kenneth Li, Aditya Soni and Jonathan Oatis)By Jeffrey Dastin \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Analyst recommendations: Alphabet, Apple, Boeing, Meta, Starbuck...txt b/news/AAPL/2023.02.03/Analyst recommendations: Alphabet, Apple, Boeing, Meta, Starbuck...txt new file mode 100644 index 0000000000000000000000000000000000000000..6890e9bc281c93bbad3ac61462ed7eb21a11115a --- /dev/null +++ b/news/AAPL/2023.02.03/Analyst recommendations: Alphabet, Apple, Boeing, Meta, Starbuck...txt @@ -0,0 +1,19 @@ + +  + +Alphabet: Morgan Stanley upgrades to $135 from $125. Maintains overweight rating.  +Apple: JP Morgan has maintained its recommendation on the stock with a Buy rating. The target price differs slightly and is now set at USD 175 versus USD 180. +Asos: Deutsche Bank downgrades from buy to hold targeting GBp 950. +Bakkavor: HSBC downgrades from hold to low, targeting GBp 100. +Boeing: RBC Capital Markets downgrades to sector perform from outperform. PT up 7.5% to $225. +Cardinal Health: Baird upgrades to outperform from neutral. PT up 23% to $94. +C.H. Robinson: Stifel downgrades to hold from buy. PT down 5.2% to $99. +Cognizant: Baird downgrades to neutral from outperform. PT down 3.8% to $68. +Direct Line: Barclays downgrades to underweight from equal-weight. PT down 7.7% to 173 pence. +Marks and Spencer: Deutsche Bank upgrades to buy from hold. PT up 30% to 210 pence. +Meta Platforms: DZ Bank upgrades to hold from sell. PT down 4.6% to $180. +Pets at Home: Deutsche Bank downgrades to hold from buy. PT down 4.7% to 355 pence. +SLM: Wells Fargo Securities downgrades to equal-weight from overweight. PT jumps 8.1% to $16. +Standard Chartered: Investec upgrades to buy from hold. PT up 11% to 740 pence. +Starbucks: Fubon Securities downgrades to neutral from buy. PT up 12% to $122. + diff --git a/news/AAPL/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt b/news/AAPL/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt new file mode 100644 index 0000000000000000000000000000000000000000..4c48bc046be011ad62cdf6382ec7199211d9ef99 --- /dev/null +++ b/news/AAPL/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt @@ -0,0 +1,8 @@ + +Sanofi, CaixaBank, Publicis, Apple, Alphabet, Amazon, Broadcom, VMWare, 3M Co, Brookfield Asset Management, Credit Suisse, Nordstrom, Ford, Beyond Meat, Kroger, Walmart, Costco Wholesale,  Starbucks, Coinbase, General Electric, Siemens Gamesa, Baidu and Tesla feature in this press review! + + + + + +  diff --git a/news/AAPL/2023.02.03/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt b/news/AAPL/2023.02.03/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt new file mode 100644 index 0000000000000000000000000000000000000000..79bd9a646c940f031a2c5fa717fc501a538d3c50 --- /dev/null +++ b/news/AAPL/2023.02.03/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt @@ -0,0 +1,73 @@ +*Asian stock markets: https://tmsnrt.rs/2zpUAr4*China shares fall, Japan's Nikkei up 0.3%*Sentiment hurt by weak earnings from U.S. tech giants*Sterling, euro falter after BOE, ECB signal pause*European yields sharply lower, Treasury flat ahead of +payrollsSYDNEY, Feb 3 (Reuters) - A global stock rally ran into +resistance in Asia on Friday as disappointing earnings from U.S. +tech giants undermined sentiment, while the dollar regained some +of its footing ahead of a key U.S. non-farm payrolls report.European markets are set to extend the caution, with +pan-region Euro Stoxx 50 futures down 0.1%, German DAX +futures falling 0.2%, and FTSE futures mostly +flat.Overnight, markets took a dovish view on rate guidance from +the European Central Bank and the Bank of England, hoping that +an end of the massive global tightening cycle is in sight, +pushing local bonds higher and the currencies lower.MSCI's broadest index of Asia-Pacific shares outside Japan +eased 0.6% on Friday, dragged down by a 1.3% +slump in Chinese blue-chips and a 1.4% tumble in Hong +Kong's Hang Seng index.Investors are waiting to see more tangible signs of an +economic recovery in China, after Beijing dropped nearly all of +its COVID curbs in December, sparking a surge in foreign +inflows.Other regional markets eked out modest gains. Japan's Nikkei +rose 0.3%, Australia's resources heavy shares +rallied 0.6% and South Korea's KOSPI climbed 0.5%.Disappointment over earnings results from Google, +Apple and Amazon tempered sentiment, with the +S&P 500 futures sliding 0.5% and Nasdaq futures +falling 1.5% on Friday.Tech shares took a beating in Thursday's after-hours +trading, with shares of Apple down 3.2%, Amazon down 5% and +Google parent Alphabet down 4.6%.Apple projected another revenue decline in the start of the +year, Amazon warned that its operating profit could fall to zero +in the current quarter, and Google parent Alphabet missed +expectations in its fourth-quarter profit and revenue.That took the shine off a strong regular trading session on +Thursday, when the S&P climbed 1.5% and the Nasdaq +surged 3.3%. The uptick built on strong gains from the +previous day after Federal Reserve Chair Jerome Powell said +disinflationary pressures are underway in the economy, raising +hopes that a pause to its monetary tightening streak is near.Investors are also watching the fallout from this week's +plunge in shares of India's Adani group, which continued to +nosedive on Friday with market losses amounting to $115 billion +in the wake of a U.S. short-seller's report.On Thursday, the European Central bank (ECB) and Bank of +England (BoE) hiked rates by 50 basis points each, with the BoE +saying the tide was turning against inflation and the ECB +indicating at least one more hike was on the horizon before +re-evaluating its rate hike path.Markets reacted by pushing European yields sharply lower, +with the 10-year German bunds falling 22.6 basis +points to 2.065%, the biggest drop since 2011, and Italian bonds +tumbling 40 bps to 3.887%, the most since 2020."The wash-up is that the BoE meeting was dovish, and the ECB +is now firmly open-minded and data-dependent, and the Fed chose +not to fight the market and the market feels validated by that," +said Chris Weston, head of research at Pepperstone.Alan Ruskin, macro strategist at Deutsche Bank, said that +given the current market price action ahead of the U.S. payrolls +data, a softer report would be regarded as endorsing all the +favourite trades of the year."Not least it would provide the most important evidence to +date to suggest that the market's rates pricing is more +appropriate than the Fed's own more hawkish signalling," said +Ruskin.Analysts expect 185,000 jobs were added last month, the +lowest since January 2021, unemployment edged up to 3.6%, and +hourly wage inflation to stay flat at 0.3% on a monthly basis, +suggesting the strong labour market might have started to ease +up.Futures markets still favour another 25-basis-point hike +from the Fed at its March policy meeting, while implying that +might be the end of its current tightening cycle. They have also +priced in one rate cut by the end of this year, a scenario +Powell dismissed.In the currency markets, the euro extended +losses to $1.0889, pulling further away from the ten-month top +of $1.1033 touched on Thursday.Sterling fell to $1.2213 on Friday, the lowest +in more than two weeks, after tumbling 1.2% the previous +session.That helped the U.S. dollar to recoup most of its +post-Fed losses, with the dollar index now standing at +101.85, away from its nine-month low of 100.80.Treasury yields held largely steady. The yield on +benchmark 10-year Treasury notes eased 2 basis +points to 3.3726%, while the two-year yield, which +rises with traders' expectations of higher Fed fund rates, was +mostly flat at 4.0918%.In the oil market, Brent crude futures reversed +earlier gains and slid 0.2% to $82.01 per barrel, while U.S. +West Texas Intermediate (WTI) crude was also down 0.2% at +$75.70.Gold was 0.2% higher. Spot gold was traded at +$1915.66 per ounce.(Editing by Shri Navaratnam and Kim Coghill) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Brave Bison buys Social Chain as expects 30% annual revenue growth .txt b/news/AAPL/2023.02.03/Brave Bison buys Social Chain as expects 30% annual revenue growth .txt new file mode 100644 index 0000000000000000000000000000000000000000..2b4c7a408e56993ad7b02ff8b97fa6f113b39d1c --- /dev/null +++ b/news/AAPL/2023.02.03/Brave Bison buys Social Chain as expects 30% annual revenue growth .txt @@ -0,0 +1 @@ +(Alliance News) - Brave Bison Group PLC on Friday said it will buy Social Chain Ltd for GBP7.7 million. Social Chain is a Manchester-based social media and influencer marketing agency, founded in 2014 by Steven Bartlett. Bartlett is known for being an investor on the BBC reality television business show Dragons' Den.It is a non-core division of Berlin-based Social Chain AG, a German e-commerce firm.Brave Bison, a London-based social and digital media company, expects the acquisition to improve its advertising revenue from social media seven-fold to GBP15 million, and an annual boost to 2023 revenue by over GBP40 million. It anticipates that Social Chain will report a revenue of GBP13.8 million and an adjusted earnings before interest, tax, depreciation and amortisation loss of GBP100,000 in 2022."The acquisition will bring access to new, global customers, including Amazon, TikTok, Arla, KFC and Apple Beats. On a combined basis for the Enlarged Brave Bison, no single customer will represent more than 8% of net revenue, and the top 10 customers will represent less than 50% of net revenue," Brave Bison said.On top of the GBP7.7 million Brave Bison pays initially, it will pay up to GBP9.5 million over three years following the acquisition, under Ebitda-based stretch performance targets.Meanwhile, Brave Bison announced a vendor placing to raise GBP4.8 million, which will represent about 16% of the firm's enlarged share capital on admission. Brothers Oliver Green, executive chair, and Theo Green, chief growth officer, have subscribed to GBP100,000 worth of placing shares, retaining a 19% stake in Brave Bison. Looking ahead, Brave Bison said it expects to meet current market expectations for 2022, anticipating a 30% annual revenue growth. Brave Bison shares rose 1.0% to 2.68 pence each on Friday morning in London.By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Dark skies ahead for Big Tech's cloud growth.txt b/news/AAPL/2023.02.03/Dark skies ahead for Big Tech's cloud growth.txt new file mode 100644 index 0000000000000000000000000000000000000000..2fbe068bdc2dd83bbb811644ee7bb90f5362b3ee --- /dev/null +++ b/news/AAPL/2023.02.03/Dark skies ahead for Big Tech's cloud growth.txt @@ -0,0 +1 @@ +Apple, Google parent Alphabet and Amazon all posted results for the end-of-year quarter that left a sour taste in investors' mouths. The reports renewed questions about global economic demand, the effect of higher interest rates and whether the market's January rally got ahead of itself.And they also reinforced concerns about what is normally a lucrative source of profit: cloud services.Amazon and Microsoft - which together dominate the cloud market - showed growth in the business was at its lowest since they started breaking out the metric in 2015, and was on track to slow even further.Microsoft posted growth of around 50% in its Azure cloud-computing business for each quarter of calendar 2020, when many were forced to work and study at home. Meanwhile, market leader Amazon Web Services, or AWS, reported a sales jump of about 30% during the same period.But, times have changed.Growth at AWS slowed to a record low of 20% in the last three months of 2022.And Microsoft's current-quarter revenue forecast for its so-called intelligent cloud business, which includes Azure, was below analysts' estimates.That's troublesome news for both companies - especially as a slowing economy has hit other parts of their businesses.There is, however, a potential silver lining: a boom in artificial intelligence after the viral success of ChatGPT, made by OpenAI. Analysts told Reuters that AI applications like ChatGPT could boost demand for cloud services again as they require massive computing power, a boon for companies whose services help run the technology. \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Dollar perks up as traders await U.S. jobs numbers.txt b/news/AAPL/2023.02.03/Dollar perks up as traders await U.S. jobs numbers.txt new file mode 100644 index 0000000000000000000000000000000000000000..575b313226e6e59c9ba9d85314939a812af2fed5 --- /dev/null +++ b/news/AAPL/2023.02.03/Dollar perks up as traders await U.S. jobs numbers.txt @@ -0,0 +1,36 @@ +LONDON, Feb 3 (Reuters) - The dollar rose slightly on +Friday, sustaining some momentum after jumping in the previous +session following a raft of central bank decisions in Europe.Trading was relatively subdued as markets waited for the +latest U.S. employment data later in the day which may shift +U.S. Federal Reserve policy.The dollar picked up against the euro, with the latter +down 0.1% to $1.09 in early European trading. The euro +remained well above the 20-year low of $0.953 hit in September, +however.The Federal Open Market Committee on Wednesday raised +interest rates by 25 basis points to a range of 4.5% to 4.75%, a +softer approach than the previous increase of 50 bps.The slowdown in the pace and comments from the central bank +helped send the dollar tumbling as traders hoped rate hikes +might soon end altogether.It then rallied sharply on Thursday when the European +Central Bank raised rates by 50 bps to 2.5%, but suggested that +it could be finished after another increase in March, causing +the euro to tumble."Essentially we have retraced everything before the +(Fed)meeting," said Alvin Tan, head of Asia FX strategy at RBC +Capital Markets.He said relatively weak earnings reports by tech giants +Alphabet, Apple and Amazon were +causing "a bit of a risk-off mood" in markets that was likely +boosting the dollar on Friday.The dollar index, which tracks the currency against +major peers, was up 0.1% to 101.89.Japan's yen was slightly higher against the +dollar, however, at 128.66 per dollar.The big event for markets on Friday is the release of U.S. +employment - or nonfarm payroll - numbers at 8.30 a.m. ET .Analysts polled by Reuters expect the U.S. economy to have +added 185,000 jobs in January, a strong showing but down from +223,000 in December. Wages data is also due.The pound was down 0.18% on Friday to $1.22, after +tumbling 1.2% on Thursday when the Bank of England raised +interest rates but stressed that inflation was showing signs of +relenting.The Australian dollar was 0.35% lower at $0.705. +Meanwhile, the U.S. dollar was up 0.35% against its Canadian +counterpart at C$1.336.Tan said he thinks the U.S. dollar should remain under +pressure in the coming weeks, given that the Fed is the central +bank closest to pausing interest rate hikes."I think that the path of least resistance in the next +quarter... is still for dollar weakness, unless we get a big +risk-off fright," he said.(Reporting by Harry Robertson; Additional reporting by Rae Wee; +Editing by Lincoln Feast, Simon Cameron-Moore and Emelia +Sithole-Matarise) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/European shares hit by weak earnings from U.S. tech giants.txt b/news/AAPL/2023.02.03/European shares hit by weak earnings from U.S. tech giants.txt new file mode 100644 index 0000000000000000000000000000000000000000..8ff6648b4cd247171040c435ed58ce76c100eacf --- /dev/null +++ b/news/AAPL/2023.02.03/European shares hit by weak earnings from U.S. tech giants.txt @@ -0,0 +1 @@ +The pan-European STOXX 600 was down 0.5% as of 0812 GMT.However, the benchmark index was on track for weekly gains, thanks to a strong increase on Thursday as the European Central Bank's (ECB) hawkish message failed to derail investor hopes of the global rate hiking cycle nearing an end.The technology sector index fell 0.6%, led by a near 2% drop in Apple supplier Infineon, while real estate stocks were down 1.5%.Frankfurt-listed shares of U.S. tech giants Amazon.com, Apple Inc and Alphabet Inc slid between 5% and 6% on disappointing earnings.Among others, French drugmaker Sanofi fell 4.7% after forecasting moderate 2023 earnings growth as strong demand for its bestselling drug, Dupixent, would be partly offset by generic competition for its multiple sclerosis pill, Aubagio.Dutch navigation and digital mapping company TomTom jumped 9.4% after raising its 2023 guidance following better-than-expected fourth-quarter revenue. (Reporting by Ankika Biswas in Bengaluru; Editing by Savio D'Souza) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/FTSE called down as tech earnings disappoint.txt b/news/AAPL/2023.02.03/FTSE called down as tech earnings disappoint.txt new file mode 100644 index 0000000000000000000000000000000000000000..1abd8bd414fb7c832135c3dffc030fa1cd853287 --- /dev/null +++ b/news/AAPL/2023.02.03/FTSE called down as tech earnings disappoint.txt @@ -0,0 +1 @@ +(Alliance News) - Stocks in London are set to open lower on Friday, following a week of crucial interest rate decisions which largely sprung no surprises. IG says futures indicate the FTSE 100 index of large-caps to open down 3.96 points, 0.1%, at 7,816.2 on Friday. The FTSE 100 index closed up 59.05 points, or 0.8% at 7,820.16 on Thursday. The Bank of England on Thursday, lifted interest rates by another 50 points. The rate lift takes the benchmark bank rate to 4.00% from 3.50%. It was an outcome expected by the market, according to consensus cited by FXStreet.The BoE said seven of the policy setting Monetary Policy Committee backed the move. Swati Dhingra and Silvana Tenryro opposed the hike, preferring bank rate to be maintained at 3.50%. The European Central Bank, meanwhile, also raised interest rates in the eurozone by 50 basis points, in line with market expectations, however it also pencilled in another increase in March.The US Federal Reserve lifted interest rates by 25 basis points on Wednesday, as widely expected, and signalled that it was not done raising rates.Sterling was quoted at USD1.2220 early Friday, lower than USD1.2276 at the London equities close on Thursday.The euro traded at USD1.0896 early Friday, lower than USD1.0927 late Thursday. Prior to the ECB announcement, however, the euro was trading at USD1.0985 and brushed the USD1.10 mark earlier on Thursday.Against the yen, the dollar was quoted at JPY128.63, higher versus JPY128.40."Today's European open looks set to see a modestly softer open after some weakness in the wake of last night's earnings numbers from Amazon, Alphabet and Apple," CMC Markets analyst Michael Hewson commented.Amazon said it swung to annual loss as it booked a significant hit related to its investment in electric vehicle firm Rivian. Apple, meanwhile, posted a drop in quarterly sales and income due to a challenging operating environment.Google owner Alphabet posted a small climb in fourth quarter revenue but noted a sharp year-on-year decline in net income.Amazon lost 5.1% after hours in New York, Alphabet gave back 4.6% and Apple shed 3.2%. In the US on Thursday, Wall Street ended mostly higher on Thursday, as investors digested the new interest rates. The Dow Jones Industrial Average ended down 0.1%, but the S&P 500 was up 1.5% and the Nasdaq Composite up 3.3%.In Tokyo on Friday, the Nikkei 225 index was up 0.4%. In China, the Shanghai Composite was down 0.7% and the Hang Seng index in Hong Kong was down 1.5%. The S&P/ASX 200 in Sydney closed up 0.6%.China's service sector return to growth in January, according to new data.The Caixin services purchasing managers' index rose to 52.9 in January from 48.0 in December. Returning above the 50.0 mark that separates growth from contraction, it shows activity in the sector has recovered from its recent downturn. "Both services supply and demand moved into expansion. Although Covid infections remained high, an easing of related containment measures stimulated supply and demand in the sector. The gauges for business activity and total new business both came in above 50, marking an end to a four-month contraction," said Caixin analyst Wang Zhe.Gold was quoted at USD1,915.71 an ounce early Friday, lower than USD1,920.03 on Thursday. Brent oil was trading at USD82.08 a barrel early Friday, higher than USD81.95 late Thursday.In the economic calendar on Friday, there are a slew of services PMI readings from the UK, US, EU, and Germany.By Sophie Rose, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Futures fall as megacaps slide on downbeat earnings.txt b/news/AAPL/2023.02.03/Futures fall as megacaps slide on downbeat earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..3033411cdffb68a5c6aa4d1ed0b10ce50bcbfe35 --- /dev/null +++ b/news/AAPL/2023.02.03/Futures fall as megacaps slide on downbeat earnings.txt @@ -0,0 +1 @@ +Shares of Wall Street heavyweights Apple, Amazon Inc and Alphabet Inc declined between 3.5% and 6% in premarket trading. Apple forecast another revenue decline at the start of the year, Amazon warned that its operating profit could fall to zero in the current quarter, and Google parent Alphabet missed Wall Street estimates for fourth-quarter results.The results looked set to snap the rally in U.S. equities in the previous session after Fed Chair Jerome Powell in his remarks after the Wednesday policy meeting referred repeatedly to the "disinflationary" process being underway.Both the Nasdaq and the S&P 500 posted strong gains on Thursday and touched near five-month highs, while the Dow slipped, dragged down by declines in some big healthcare stocks.Investors will closely monitor Labor Department's numbers for January nonfarm payrolls, due at 8:30 a.m. ET. The economy is expected to have added 185,000 jobs, fewer than the 223,000 additions in December. The unemployment rate is expected to tick higher to 3.6% in January, from 3.5% in December. The unemployment rate is expected to tick higher to 3.6% in Janaury, from 3.5% in December.U.S. stocks made a strong start in 2023 after a dismal 2022, with battered technology and related stocks leading the rebound on hopes that the Fed will temper its aggressive rate hikes, in turn alleviating some pressure on equity valuations. At 4:40 a.m. ET, Dow e-minis were down 81 points, or 0.24%, S&P 500 e-minis were down 29.25 points, or 0.7%, and Nasdaq 100 e-minis were down 181.5 points, or 1.41%. (Reporting by Shubham Batra; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Google, Apple, Amazon give investors reason to fret.txt b/news/AAPL/2023.02.03/Google, Apple, Amazon give investors reason to fret.txt new file mode 100644 index 0000000000000000000000000000000000000000..c2e2088381288fe7af521e984a49ba18ff272a07 --- /dev/null +++ b/news/AAPL/2023.02.03/Google, Apple, Amazon give investors reason to fret.txt @@ -0,0 +1,2 @@ +Wall Street had its eyes Friday on big tech after some of the biggest companies in the world posted lackluster quarterly financial performances.That included Apple Inc. The company posted its first quarterly revenue drop in nearly four years after pandemic-driven restrictions on its China factories curtailed sales of the latest iPhone during the holiday season. +Amazon reported worse-than-expected fourth-quarter profits, but its revenue beat expectations boosted by sales in its cloud-computing unit AWS, which is also seeing a slow-down in growth.Google’s parent company Alphabet posted a lower profit and a small revenue increase for last year’s fourth quarter, as a decline in online ad spending and competition from rivals weigh on the search giant. While overall revenue grew, advertising revenue fell by nearly 4% and revenue at YouTube declined 8% year-over-year.Amazon ended Friday down 8.4% and Alphabet lost 2.8%. Apple bounced back, finishing the day up 2.4%.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AAPL/2023.02.03/India's customs duty change to dial up local phone production-tax official.txt b/news/AAPL/2023.02.03/India's customs duty change to dial up local phone production-tax official.txt new file mode 100644 index 0000000000000000000000000000000000000000..dab99fa4ed5279d5ce14a982ad18592fdc178e5a --- /dev/null +++ b/news/AAPL/2023.02.03/India's customs duty change to dial up local phone production-tax official.txt @@ -0,0 +1 @@ +Indian mobile phone exports nearly doubled year-on-year to $5 billion between April-October in 2022, primarily supported by the government's key scheme to offer incentives to local manufacturers.At the annual budget for 2023/24 on Wednesday, Finance Minister Nirmala Sitharamam eliminated the 2.5% customs duty on select parts of mobile camera phones."The duty structure now encourages them (phone manufacturers) to import parts and assemble here," V. Rama Mathew, member of India's Central Board of Indirect Taxes and Customs, said in an interview."The duty changes will benefit all phone sectors. But it will also benefit the premium phone sector because if you see the cost of components, camera assembly contributes substantially," Mathew said.The move comes as Apple aims to boost its share of India-produced phones to 25%. Apple exports from India hit $1 billion in December.The Cupertino, California-based company has bet big on India since it began assembling iPhones in the country in 2017 via Wistron, and later with Foxconn, in line with the Indian government's push for local manufacturing.Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, sources told Reuters late last year.J.P. Morgan analysts have estimated that a quarter of all Apple products would be made outside China by 2025, up from 5% currently. (Reporting by Shivangi Acharya; Editing by Savio D'Souza)By Shivangi Acharya and Nikunj Ohri \ No newline at end of file diff --git "a/news/AAPL/2023.02.03/Nasdaq 100 futures down 1.6% as apple, amazon and alphabet share\342\200\246.txt" "b/news/AAPL/2023.02.03/Nasdaq 100 futures down 1.6% as apple, amazon and alphabet share\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..bc5a6412949e44b9c2a6ee27eb39b08c6da2babd --- /dev/null +++ "b/news/AAPL/2023.02.03/Nasdaq 100 futures down 1.6% as apple, amazon and alphabet share\342\200\246.txt" @@ -0,0 +1 @@ +NASDAQ 100 FUTURES DOWN 1.6% AS APPLE, AMAZON AND ALPHABET SHARES SLIDE PREMARKET FOLLOWING RESULTS \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Runaway Tech arrested.txt b/news/AAPL/2023.02.03/Runaway Tech arrested.txt new file mode 100644 index 0000000000000000000000000000000000000000..976b2d99d246ccc93447282a31761579bf1e5e95 --- /dev/null +++ b/news/AAPL/2023.02.03/Runaway Tech arrested.txt @@ -0,0 +1 @@ +The coast may be clearing on interest rates but a spluttering economy still has the power to check runaway stock markets.What investors have to work out is how much the economic drag is simply the condition for relief on rates. Friday's release of January's U.S. employment report will provide some clues - but Big Tech gave its own readout on Thursday.Underwhelming quarterly results from mega cap technology giants Apple, Alphabet and Amazon provided the reality check after the bell late on Thursday - enough to send their share prices down 3%-5% in out-of-hours trading and knock futures on this week's soaring Nasdaq and S&P500 indices back about 1% too.The updates have been enough to curb what had been the best three days for Wall St indices in about four months - after the best January for the Nasdaq in 22 years - as investors bet the U.S. Federal Reserve's credit squeeze is near done.Apple earnings fell short of expectations and it forecast revenue would fall for a second quarter in a row. But even though iPhone sales fell for the first time since 2020, it said sales were likely to improve as production had returned to normal in China after COVID-related shutdowns.Data on Friday backed that assertion as China's services sector activity in January expanded for the first time in five months. Spending and travel got a boost from the lifting of stringent COVID-19 curbs and business confidence hit near 12-year highs.But Alphabet also posted fourth-quarter profit and sales short of expectations as Google's advertising clients pulled back spending from a period of pandemic-led excess. And Amazon said operating profit could fall to zero in the current quarter as savings from layoffs do not make up for the financial impact of consumers and cloud customers clamping down on spending.To what extent layoffs in the tech sector are fanning out across the economy will be monitored in the payrolls report later and the Fed will be watching wage growth like a hawk.Payrolls are expected to have risen by another brisk 185,000 last month, although the unemployment rate likely ticked up to 3.6% from a more than 50-year low of 3.5% in December.Annual wage growth is expected to have slowed to 4.3% from 4.6% in December.The extent to which the market thinks the Fed has nearly finished its rate rise campaign - and seeding some of the FOMO, or fear of missing out, behaviour on Wall St - can be seen in the drop in two- and 10-year Treasury yields to their lowest since September. Ten-year yields have fallen a full percentage point since the peaks of October. Elsewhere, shares of India's Adani Group companies fell sharply again on Friday as ripples from a market rout disrupted parliament for a second day, driving fears of investment contagion across the country following last week's critical research report by a U.S. short-seller. Seven listed Adani enterprises lost more than half their market capitalisation, which shrivelled to less than $100 billion, after the Hindenburg Research report raised questions about the conglomerate's debt levels and use of tax havens. The group shelved its $2.5-billion share sale on Wednesday, S&P Dow Jones Indices said it would drop the Adani Enterprises flagship from widely-used sustainability indices on Feb. 7, blunting their appeal for environment-conscious investors.Key developments that may provide direction to U.S. markets later on Friday:* U.S. Jan employment report, Jan ISM service sector survey* U.S. corp earnings: Cigna, Aon, Regeneron Pharmaceuticals, Zimmer Biomet, LyondellBasell, Cboe Global Markets, Church & Dwight.GRAPHICSApple's Q1 revenue falls on lower iPhone sales https://www.reuters.com/graphics/APPLE-RESULTS/egpbyaadqvq/chart.pngAlphabet records slowest revenue growth since 2004 https://www.reuters.com/graphics/ALPHABEST-RESULTS/xmvjkrraypr/chart.pngAmazon earnings and net sales https://www.reuters.com/graphics/USA-AMAZON-EARNINGS/xegvbxrylvq/usa-results-amazon.jpgIs the selloff in tech stocks over? https://www.reuters.com/graphics/TECH-STOCKS/TECH-STOCKS/egpbyaaeqvq/graphic.jpg (By Mike Dolan, editing by Barbara Lewis mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Stocks stumble, U.S. bond yields jump on strong jobs report.txt b/news/AAPL/2023.02.03/Stocks stumble, U.S. bond yields jump on strong jobs report.txt new file mode 100644 index 0000000000000000000000000000000000000000..f9bdcd559dc3e7658ac30c1e53ee9805a6a6d3fe --- /dev/null +++ b/news/AAPL/2023.02.03/Stocks stumble, U.S. bond yields jump on strong jobs report.txt @@ -0,0 +1,57 @@ +*Jan U.S. payrolls 517k vs 185k estimate*Dollar bounces off 9-month lows*Amazon, Alphabet lower after earningsNEW YORK, Feb 3 (Reuters) - A gauge of global stocks +dropped more than 1%, while U.S. Treasury yields and the dollar +shot higher on Friday after a shockingly strong U.S. jobs report +renewed concerns the Federal Reserve may stay aggressive in its +interest rate hike path as it tries to tame inflation.The report from the Labor Department showed nonfarm payrolls +surged by 517,000 jobs in January, well above the 185,000 +estimate of economists polled by Reuters, with data for December +also being revised higher. Average hourly earnings increased +0.3%, as expected, down from the 0.4% in the prior month, while +the unemployment rate of 3.4% was the lowest since 1969.Equities have rallied to start the year on expectations the +Fed may be forced to pause or even pivot from its rate hikes in +the back half of the year, growing more confident after comments +from Fed Chair Powell on Wednesday that acknowledged the +"disinflationary" process may have begun. Additional fuel was +added after policy announcements by the European Central Bank +(ECB) and Bank of England (BoE) on Thursday."This make the Fed's job more difficult. Their dependence on +the data yet to come has increased, no doubt," said Russell +Price, chief economist at Ameriprise Financial in Troy, +Michigan."They’re concentrating on the labor market right now, they +want to see labor cost inflation under control, and this report +does not suggest that labor cost inflation in particular is +going to improve significantly anytime soon."Interest rate futures now indicate the Fed is likely to +deliver at least two more rate hikes, taking the benchmark rate +to above 5%.U.S. stocks opened lower after the report, with additional +downward pressure being supplied by a 2.83% decline in Google +parent Alphabet and a 7.70% drop in Amazon after their +quarterly results.Apple, however, helped prevent further declines, as the +stock erased losses in premarket trading to trade 2.74% higher +following its quarterly earnings.Earnings are now expected to decline 2.7% for the quarter +from the year-ago period, according to Refinitiv data, down from +the 1.6% fall expected at the start of the year.Other data showed the U.S. services industry rebounded +strongly in January, according to the Institute for Supply +Management (ISM).The Dow Jones Industrial Average fell 167.55 points, +or 0.49%, to 33,886.39; the S&P 500 lost 44.72 points, or +1.07%, to 4,135.04; and the Nasdaq Composite dropped +176.41 points, or 1.45%, to 12,024.41.Even with Friday's declines, both the S&P 500 and Nasdaq +were on track for weekly gains. The Nasdaq was poised for a +fifth straight week of gains, it's longest since +October-November 2021.European stocks closed modestly higher, erasing earlier +declines on optimism over the region's economy. The pan-European +STOXX 600 index rose 0.34% but MSCI's gauge of stocks +across the globe shed 1.08%. The STOXX index +closed with a 1.23% gain on the week for its highest closing +level since April 21. MSCI's index was on track for a second +straight weekly advance even with Friday's tumble.U.S. Treasury yields climbed after the payrolls report, with +those on the benchmark 10-year note up 13.2 basis +points to 3.530%, from 3.398% late on Thursday, poised for their +biggest one-day jump since Oct. 19.The greenback strengthened in the wake of the data, climbing +off a nine-month low hit on Thursday to 109.92, its highest +since January 12, with the dollar index rose 1.071% and +the euro down 0.93% to $1.0808.The Japanese yen weakened 1.88% to 131.11 per dollar, +while Sterling was last trading at $1.2058, down 1.35% on +the day.Crude prices turned lower in part due to strength in the +dollar and concerns about higher interest rates, with Brent and +WTI poised for weekly declines of about 7%.U.S. crude fell 3.15% to $73.49 per barrel and Brent +was at $79.92, down 2.74% on the day.(Reporting by Chuck Mikolajczak; additional reporting by +Herbert Lash; Editing by Kirsten Donovan and Jonathan Oatis) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Stocks tumble, U.S. bond yields rise on strong jobs report.txt b/news/AAPL/2023.02.03/Stocks tumble, U.S. bond yields rise on strong jobs report.txt new file mode 100644 index 0000000000000000000000000000000000000000..6b5da91e8c5ed6fe91634d3d9775c78aef314dad --- /dev/null +++ b/news/AAPL/2023.02.03/Stocks tumble, U.S. bond yields rise on strong jobs report.txt @@ -0,0 +1,56 @@ +*Jan U.S. payrolls 517k vs 185k estimate*Dollar bounces off 9-month lows*Amazon, Alphabet lower after earningsNEW YORK, Feb 3 (Reuters) - A gauge of global stocks +dropped more than 1%, while U.S. Treasury yields and the dollar +rose on Friday after a shockingly strong U.S. jobs report +renewed concerns the Federal Reserve may remain aggressive in +its path of interest rate hikes as it tries to tame inflation.The report from the Labor Department showed nonfarm payrolls +surged by 517,000 jobs in January, well above the 185,000 +estimate of economists polled by Reuters, with data for December +also being revised higher. Average hourly earnings increased +0.3%, as expected, down from the 0.4% in the prior month, while +the unemployment rate of 3.4% was the lowest since 1969.Equities have rallied to start the year on expectations the +Fed may be forced to pause or even pivot from its rate hikes in +the back half of the year, growing more confident after comments +from Fed Chair Powell on Wednesday that acknowledged the +"disinflationary" process may have begun. Additional fuel was +added after policy announcements by the European Central Bank +(ECB) and Bank of England (BoE) on Thursday."While it is very helpful to see the jobs increasing, it is +really a horse race between that ongoing income and how quickly +inflation comes down," said Lisa Erickson, head of public +markets group at U.S. Bank Wealth Management in Minneapolis, +Minnesota."The Fed really is in a tough place trying to navigate +between keeping those price pressures down and not causing too +much economic pain."Interest rate futures now indicate the Fed is likely to +deliver at least two more rate hikes, taking the benchmark rate +to above 5%.U.S. stocks closed lower, with additional downward pressure +being supplied by a 2.75% decline in Google parent Alphabet +and an 8.43% drop in Amazon after their +quarterly results.Apple, however, helped prevent further declines, as +the stock erased losses in premarket trading to close 2.44% +higher following its quarterly earnings.Earnings are now expected to decline 2.7% for the quarter +from the year-ago period, according to Refinitiv data, down from +the 1.6% fall expected at the start of the year.Other data showed the U.S. services industry rebounded +strongly in January, according to the Institute for Supply +Management (ISM).The Dow Jones Industrial Average fell 127.93 points, +or 0.38%, to 33,926.01; the S&P 500 lost 43.28 points, or +1.04%, to 4,136.48; and the Nasdaq Composite dropped +193.86 points, or 1.59%, to 12,006.96.Even with Friday's declines, both the S&P 500 and Nasdaq +notched weekly gains, with the Nasdaq securing a fifth straight +week of gains, its longest since October-November 2021.European stocks closed modestly higher, erasing earlier +declines on optimism over the region's economy. The pan-European +STOXX 600 index rose 0.34%, but MSCI's gauge of stocks +across the globe shed 1.08%. The STOXX index +closed with a 1.23% gain on the week, its highest closing level +since April 21. MSCI's index was on track for a second straight +weekly advance even with Friday's tumble.U.S. Treasury yields climbed after the payrolls report, with +those on the benchmark 10-year note up 13 basis +points to 3.528%, from 3.398% late on Thursday, poised for their +biggest one-day jump since Oct. 19.The greenback strengthened in the wake of the data, climbing +off a nine-month on Thursday to hit 103.01, its highest since +Jan. 12, as the dollar index rose 1.149% and the euro +was down 1.02% to $1.0799.The Japanese yen weakened 1.90% to 131.18 per dollar, +while Sterling was last trading at $1.2053, down 1.39% on +the day.Crude prices turned lower in part due to strength in the +dollar and concerns about higher interest rates, with Brent and +WTI both dropping nearly 8% on the week.U.S. crude settled down 3.28% at $73.39 per barrel +and Brent settled at $79.94, down 2.71% on the day.(Reporting by Chuck Mikolajczak; additional reporting by +Herbert Lash; Editing by Kirsten Donovan and Jonathan Oatis) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/TSX futures flat as commodity prices slip, U.S. jobs awaited.txt b/news/AAPL/2023.02.03/TSX futures flat as commodity prices slip, U.S. jobs awaited.txt new file mode 100644 index 0000000000000000000000000000000000000000..3e8f5d4ad29666167f91becadb28650bb623204a --- /dev/null +++ b/news/AAPL/2023.02.03/TSX futures flat as commodity prices slip, U.S. jobs awaited.txt @@ -0,0 +1 @@ +Futures on the S&P/TSX index were flat at 6:44 a.m. ET (1144 GMT) after the benchmark closed lower on Thursday, weighed down by losses in commodity-linked stocks.Investors would be looking for U.S. jobs data due at 8:30 a.m. ET, a key metric in gauging where the Fed stands on future rate increases, having hiked its lending rate by an expected 25 basis points on Wednesday.U.S. futures pointed to a lower opening on Wall Street, with disappointing quarterly results from megacap growth companies including Apple Inc, Amazon.com Inc and Alphabet Inc dampening sentiment. [.N]Oil prices eased, with major oil benchmarks headed for their second consecutive week of losses, as the market awaited further signs of fuel demand recovery in China to offset looming slumps in other major economies. [O/R]Gold steadied in a tight range as cautious investors took stock of a host of central bank statements and positioned themselves for the key U.S. nonfarm payrolls report. [GOL/]Materials and energy companies have a combined weightage of about 31% on the main index.In earnings, methanol producer Methanex reported better-than-expected quarterly results overnight.Software company OpenText Corp also reported its quarterly numbers, beating expectations on both revenue and earnings.On the research front, CIBC cut software company Lightspeed Commerce's rating to "neutral" from "outperformer". (Reporting by Shashwat Chauhan in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Tech giants call time on stocks rally, U.S. payrolls loom.txt b/news/AAPL/2023.02.03/Tech giants call time on stocks rally, U.S. payrolls loom.txt new file mode 100644 index 0000000000000000000000000000000000000000..5b743d43457793e389c23a97c924801105d9da78 --- /dev/null +++ b/news/AAPL/2023.02.03/Tech giants call time on stocks rally, U.S. payrolls loom.txt @@ -0,0 +1,56 @@ +*China shares fall, Japan's Nikkei up 0.3%*Sentiment hurt by weak earnings from U.S. tech giants*Sterling, euro falter after BOE, ECB decisions*U.S. payrolls data coming upLONDON/SYDNEY, Feb 3 (Reuters) - A global stock rally, +powered by hopes of central banks ending aggressive rate rises, +ran into roadblocks on Friday following weak earnings from U.S. +tech giants and as key U.S. jobs data loomed.The MSCI World Stock Index slipped 0.2%, but +was still near its highest since last August following a sharp +rebound in recent weeks on hopes that central bank rate hikes +are nearing an end.Wall Street stock futures fell sharply, with contracts +on the tech-heavy Nasdaq 100 2% lower, on disappointing +earnings from Google, Apple and Amazon +. S&P 500 futures slid 0.9%.Investors are also watching the fallout from this week's +plunge in shares of India's Adani group, which continued to +nosedive on Friday with market losses amounting to $115 billion +in the wake of a U.S. short-seller's report.In Europe, the Stoxx 600 share benchmark fell 0.6%. +Germany's benchmark 10-year bond yield inched 2 +basis points (bps) higher to 2.097%, having on Thursday dropped +by the most since 2011 as the price of the debt rallied.This week, the U.S. Federal Reserve, the European +Central bank (ECB) and Bank of England (BoE) all increased +benchmark borrowing costs and warned of more hikes to come.Markets initially shrugged off the hawkishness, however, +and clungto a statementby Fed chair Jay Powell on Wednesday that the United States +was in the early stages of "disinflation."The mood turned much more cautious on Thursday, however, +as U.S. tech sharestook a beating in U.S. after-hours trading.Apple projected another revenue decline in the start of the +year, Amazon warned that its operating profit could fall to zero +in the current quarter, and Google parent Alphabet missed +expectations in its fourth-quarter profit and revenue.The keenly watched U.S. non-farm payrolls report, due +out later on Friday, could now be crucial to supporting the +recent rally."If we are seeing an easing of net job creation that +would allow the Fed to just do one more rate hike of 25 basis +points and that would be the end of the cycle," said Willem +Sels, global chief investment officer at HSBC's private bank."We will see headwinds from further earnings downgrades, +but we have incorporated quite a lot [of this] already so I +think markets can hold here if we are indeed right on the Fed."U.S. job growth likely remained strong in January, with +economists polled by Reuters expecting185,000 new jobs were created last month.Hourly wages are predicted to have risen by 0.3% from +the month before, although the unemployment rate is also +forecast to have ticked up to 3.6% from 3.5%, which may give the +Fed comfort that wage inflation could decline.Alan Ruskin, macro strategist at Deutsche Bank, said that +given the current market price action ahead of the U.S. payrolls +data, a softer report would be regarded as endorsing all the +favourite trades of the year."Not least it would provide the most important evidence to +date to suggest that the market's rates pricing is more +appropriate than the Fed's own more hawkish signalling," Ruskin +said.Futures markets favour another 25 bp hike from the Fed in +March and imply that might be the end of its current tightening +cycle. They have also priced in two rate cuts by the end of this +year, a scenario Powell dismissed.In currency markets, the euro extended losses +to $1.0888, pulling further away from Thursday's 10-month top of +$1.1033.Sterling fell to $1.2185 on Friday, the lowest +in more than two weeks, after tumbling 1.2% the previous +session.That helped the U.S. dollar to recoup most of its +post-Fed losses, with the dollar index now standing at +101.94, away from its nine-month low of 100.80.Treasury yields held largely steady. Ten-year Treasury +yield were flat at 3.96%, while the two-year yield +, which rises with traders' expectations of higher Fed +fund rates, rose 2 bps to 4.106%.In the oil market, Brent crude futures reversed +earlier gains and slid 0.6% to $81.58 per barrel, while U.S. +West Texas Intermediate (WTI) crude was also down 0.6% at +$75.28.(Editing by Dhara Ranasinghe and Toby Chopra) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Tech trillion club's wobble in four charts.txt b/news/AAPL/2023.02.03/Tech trillion club's wobble in four charts.txt new file mode 100644 index 0000000000000000000000000000000000000000..cfb9c1b54496f1d5c4c3b9dea775133f50e49813 --- /dev/null +++ b/news/AAPL/2023.02.03/Tech trillion club's wobble in four charts.txt @@ -0,0 +1 @@ +The tech industry has already laid off thousands of employees in an effort to cut costs as they brace for an impending slowdown.The following graphics highlight the companies' shaky performance in key areas: WEAK IPHONE SALESThe world's largest publicly traded company's quarterly profit missed Wall Street expectations for the first time since 2016 as it struggled with disruptions to iPhone production in China."Apple's results are consistent with the broader technology-sector challenges, with a difficult macroeconomic environment slowing sales for digital advertising, e-commerce, and (as reflected by Apple's performance) consumer electronics," said D.A Davidson analyst Thomas Forte.Apple's iPhone sales fall for the first time since 2020 https://www.reuters.com/graphics/APPLE-RESULTS/lbpggbbkbpq/chart.png DIGITAL ADVERTISING SLUMPThe parent company of digital advertising giant Google also missed earnings expectations as businesses dialed back spending on fears of a possible recession."If a dominant ad player like Google can get hit like this, it is now officially a tough ad market," said Rosenblatt Securities analyst Barton Crockett.Google's ad sales growth in the last 2 years https://www.reuters.com/graphics/GOOGLE-ADVERTISING/egpbyaobavq/chart_eikon.jpg SLOW CLOUD GROWTHAmazon's revenue beat for the holiday quarter was largely overshadowed by a warning from the e-commerce giant that its lucrative cloud business was set for slower growth in the next few quarters."This year is likely to be a difficult year for AWS growth. One of the key advantages of AWS - that it is easy to flex spending upwards - is also one of its key disadvantages when the economy slows down," said Atlantic Equities analyst James Cordwell.Amazon's cloud growth in the last two years https://www.reuters.com/graphics/AMAZON-AWS/gdvzqdmbopw/chart.png POST-EARNINGS STOCK REACTIONShares of the three companies - all of which have market valuations of more than a trillion dollars - were down between 2.2% and 4.5%. The stock slump also dragged the wider market lower. Here is how the stocks have reacted after every quarterly earnings report in 2022:Big tech stock reaction after quarterly results over the pastyear https://www.reuters.com/graphics/USA-STOCKS/BIGTECH/lbpggblyrpq/chart.png (Reporting by Akash Sriram, Tiyashi Datta and Eva Mathews in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/The morning after the night before.txt b/news/AAPL/2023.02.03/The morning after the night before.txt new file mode 100644 index 0000000000000000000000000000000000000000..339bfafd1fa2ad1ac255a8520d30fc24538f9cbc --- /dev/null +++ b/news/AAPL/2023.02.03/The morning after the night before.txt @@ -0,0 +1 @@ +After the central bank triple-header (that's the Fed, ECB and BoE) buoyed risk appetite and emboldened investor hopes of the end of the massive global tightening cycle came the Big Tech triple-header to revive worries over global economic conditions. Dour fourth-quarter results from Apple, Google-parent Alphabet and Amazon are likely to cast a shadow on the markets on Friday before the crucial non-farms payroll data is released later in the day. Analysts expect 185,000 jobs were added last month and the report will likely paint a clearer picture of the labour market in the United States. With the market facing up to the reality of the economic downturn, Asian stocks eased with MSCI's broadest index of Asia-Pacific shares outside Japan 0.7% lower and set to end the week in the red after five consecutive weekly gains. The dollar firmed, while gold steadied. Meanwhile, Adani Group shares continue to bleed with market losses now over $115 billion (for the seven listed Adani firms)in the wake of a scathing report from U.S short-seller Hindenburg that came out on Jan. 24. The meltdown in share prices have stoked fears of wider impact on the Indian equities. A bright spot for the market was a private sector survey that showed China's services activity in January expanded for the first time in five months, sending business confidence to near 12-year highs.Even amidst the dire earnings reports from U.S. bellwethers there was a hint of hope that consumer spending was beginning to rebound in China. Key developments that could influence markets on Friday: Economic events: Euro zone, UK, Germany S&P Global business surveys, U.S. non-farm payrolls data Speakers, ECB's Christine Lagarde and BoE's Huw Pill to talk in separate events (Reporting by Ankur Banerjee; Editing by Jacqueline Wong) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/UK shares slip as weak tech earnings weigh on mood.txt b/news/AAPL/2023.02.03/UK shares slip as weak tech earnings weigh on mood.txt new file mode 100644 index 0000000000000000000000000000000000000000..35fb9192e3377e00df3670fff72cf10e71c6d2e0 --- /dev/null +++ b/news/AAPL/2023.02.03/UK shares slip as weak tech earnings weigh on mood.txt @@ -0,0 +1 @@ +The blue-chip FTSE 100 index slipped 0.1% by 0810 GMT, while the midcap FTSE 250 index slid 0.5% after touching a nine-month high in the previous session.Wall Street futures sank after tech titans Apple Inc, Amazon.com Inc and Alphabet Inc reported downbeat results.Still, both the UK equity indexes were heading for weekly gains after dovish comments from the U.S. Federal Reserve and the Bank of England raised hopes that the central banks could pause the rate-hike spree after a series of increases to bring inflation under control.Discount retailer B&M gained 2.2% and Marks & Spencer rose 3.2% after Deutsche Bank upgraded their stocks to "buy" from "hold". (Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Wall St pares declines after stunning jobs report.txt b/news/AAPL/2023.02.03/Wall St pares declines after stunning jobs report.txt new file mode 100644 index 0000000000000000000000000000000000000000..e9bc130cfdf8a68042a0d20d7de4dd378ad7e1fe --- /dev/null +++ b/news/AAPL/2023.02.03/Wall St pares declines after stunning jobs report.txt @@ -0,0 +1,43 @@ +(Corrects paragraph 14 to say Michael Matousek is a head trader +at U.S. Global Investors Inc)*U.S. job growth accelerates in Jan, jobless rate ticks +down*Amazon, Alphabet fall on disappointing results*Ford drops on downbeat outlook*Indexes down: Dow 0.17%, S&P 0.63%, Nasdaq 0.82%Feb 3 (Reuters) -U.S. stock indexes pared declines by afternoon on Friday as +a strong jobs report that initially raised fears of the Federal +Reserve keeping interest rates higher for longer also pointed to +the resilience in the economy in the face of aggressive policy +tightening.The Labor Department's nonfarm payrolls report showed +517,000 job additions in January, almost three times above +expectations, while the unemployment rate hit 3.4%, its lowest +since 1969.Separately, data showed that theU.S. servicesindustry's activity rebounded strongly in January."The data suggests an economy that is running cooler +than half a year ago, but not falling off the cliff," Bill +Adams, chief economist for Comerica Bank said."The outlook is cloudy, but the backward-looking data +shows 2023 began on a stronger footing than seemed the case a +few weeks ago."Money markets expect the U.S. central bank to hike rates two +more times before stopping, after the Fed raised its target rate +by 25 basis points on Wednesday. Rates are seen peaking at 4.95% +by June, compared with 4.91% earlier.Investors also parsed disappointing earnings, with +Amazon.com Inc sliding 5.8% as it warned that its +operating profit could fall to zero in the current quarter.Google parent Alphabet Inc dropped 2.0% as it +missed Wall Street estimates for fourth-quarter results.Markets rallied in the previous session on Fed Chair Jerome +Powell's repeated references to the "disinflationary" process +being underway in his remarks after Wednesday's meeting.Apple Inc forecast another revenue decline at the +start of the year, but the iPhone maker reversed course to trade +2.7% higher.Tesla Inc jumped 3.0% after the U.S. Treasury +Department said that some of its Model Y variants would be +eligible for tax credits.Wall Street's main indexes have had a solid start to the +year as megacap growth stocks, which took a beating last year, +rose on hopes that the Fed's hiking spree will come to an end +this year.The Nasdaq eyed its fifth consecutive weekly +advance, its best streak since October 2021."If the Fed is indeed less hawkish and the economy is doing +well, you would want to own the big names, why sit on the +sidelines?," said Michael Matousek, head trader at U.S. Global +Investors Inc.At 1:01 p.m. ET, the Dow was down 58.67 points, or +0.17%, at 33,995.27 and the S&P 500 was down 26.21 +points, or 0.63%, at 4,153.55.The Nasdaq Composite was down 99.50 points, or +0.82%, at 12,101.32.Ford Motor Co slid 6.6% after missing quarterly +earnings expectations while also warning of a rocky year ahead.Analysts now see fourth-quarter earnings of S&P 500 firms +declining 2.7%, according to Refinitiv.Declining issues outnumbered advancers for a 2.03-to-1 ratio +on the NYSE and for a 1.25-to-1 ratio on the Nasdaq.The S&P index recorded 15 new 52-week highs and no new low, +while the Nasdaq recorded 103 new highs and eight new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian; Additional +reporting by Shubham Batra; Editing by Sriraj Kalluvila and Maju +Samuel) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Wall St. ends down after stunning jobs growth .txt b/news/AAPL/2023.02.03/Wall St. ends down after stunning jobs growth .txt new file mode 100644 index 0000000000000000000000000000000000000000..6453a7c9b8f86ea266da56461b7ecb168520eaaf --- /dev/null +++ b/news/AAPL/2023.02.03/Wall St. ends down after stunning jobs growth .txt @@ -0,0 +1 @@ +The Dow shed roughly four-tenths of a percent, the S&P fell a full percent, and the Nasdaq dropped 1.6%.U.S. job growth soared in January, with nonfarm payrolls surging by 517,000 jobs - well above an estimate of 185,000 - and the unemployment rate fell to a 53-1/2-year low.The data comes after Fed Chair Jerome Powell said earlier in the week that there'd be two more quarter-point rate hikes - sending stocks higher.But Michael Jones, Chairman and CEO of Caravel Concepts, says the market was wrong to interpret Powell's remarks as dovish."Investors, instead of saying, "Hey, we're gonna get a minimum of two more increases,' said, 'Hey, only two more increases and the Fed's gonna take a breather.' That's not exactly what he said. And also, he really emphasized that the main thing the Fed's looking at as they make these tightening decisions is the job market - and how they feel it's unbalanced, that unemployment is too low, that jobless claims are too low and that job openings are too high. And because of all that, today's number is going to really equip the hawks to drive rates higher towards 6%."Investors on Friday also digested another heavy batch of corporate results.Shares of Apple, the largest U.S. company by market value, rose 2.4%. The company forecast that revenue would fall for a second quarter in a row but that iPhone sales were likely to improve as production had returned to normal in China.Shares of Amazon slumped 8.4% after the company said operating profit could fall to zero in the current quarter as savings from layoffs won't make up for the financial impact of consumers and cloud customers clamping down on spending.And shares of Google parent Alphabet dropped 2.7% after it posted fourth-quarter profit and sales short of Wall Street expectations. \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Wall Street ends down after stunning jobs growth raises Fed questions.txt b/news/AAPL/2023.02.03/Wall Street ends down after stunning jobs growth raises Fed questions.txt new file mode 100644 index 0000000000000000000000000000000000000000..04cb0a7ea0a317c8e23909faaae043d151c26a12 --- /dev/null +++ b/news/AAPL/2023.02.03/Wall Street ends down after stunning jobs growth raises Fed questions.txt @@ -0,0 +1,50 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nasdaq posts 5th straight weekly gain*U.S. reports blowout job data; unemployment lowest since +1969*Megapcap earnings reactions: Apple up; Amazon, Alphabet +slump*Ford Motor drops on downbeat outlook*Indexes down: Dow 0.38%, S&P 1.04%, Nasdaq 1.59%(Updates with further market data)Feb 3 (Reuters) - Major U.S. stock indexes ended lower +on Friday after surprisingly strong jobs data sparked concerns +about aggressive Federal Reserve action, while investors +digested a mixed bag of megacap company earnings reports.The S&P 500 still posted a gain for the week, which included +a string of major market events, and stood not far from +five-month highs. The Nasdaq tallied its fifth straight weekly +rise, its longest such streak since late 2021.U.S. job growth accelerated sharply in January, with nonfarm +payrolls surging by 517,000 jobs, well above an estimate of +185,000. The unemployment rate hit a more than 53-1/2-year low +of 3.4%.In another sign of economic strength, U.S. services industry +activity rebounded strongly in January.Investors have been balancing hopeful signs that the economy +could avoid a feared recession against concerns about how long +the Fed will keep interest rates high to rein in inflation. The +S&P 500 gained earlier this week after comments that were more +dovish than expected from Fed Chair Jerome Powell, who +acknowledged progress in the fight against inflation.The jobs report "was an incredible surprise and it raises a +lot of questions about what the Fed is going to do next,” said +Kristina Hooper, chief global market strategist at Invesco. +“What I think is causing some of the volatility is markets +trying to make sense of how the Fed will perceive this.”The Dow Jones Industrial Average fell 127.93 points, +or 0.38%, to 33,926.01, the S&P 500 lost 43.28 points, or +1.04%, to 4,136.48 and the Nasdaq Composite dropped +193.86 points, or 1.59%, to 12,006.96.For the week, the S&P 500 rose 1.6%, the Dow slipped 0.15%, +and the Nasdaq gained 3.3%.Wall Street's main indexes have had a solid start to the +year as tech and other stocks that struggled in 2022 have +rebounded, fueled by hopes that the Fed's rate hikes would soon +end and the economy might be able to navigate a soft landing.“So many things were trading at bargain-basement prices +three, four months ago," said Eric Kuby, chief investment +officer at North Star Investment Management Corp. "That has gone +away... I think we are in a fair game now.”On Friday, investors were also digesting another heavy +batch of corporate results.Shares of Apple, the largest U.S. company by market +value, rose 2.4%. The company forecast that revenue would fall +for a second quarter in a row but that iPhone sales were likely +to improve as production had returned to normal in China.Shares of Amazon slumped 8.4% as the company said +operating profit could fall to zero in the current quarter as +savings from layoffs do not make up for the financial impact of +consumers and cloud customers clamping down on spending.Alphabet shares dropped 2.7% after the Google +parent posted fourth-quarter profit and sales short of Wall +Street expectations.In other corporate news, Ford Motor shares slid 7.6% +after the automaker predicted a difficult year ahead.Declining issues outnumbered advancing ones on the NYSE by a +2.82-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored decliners.The S&P 500 posted 16 new 52-week highs and one new low; the +Nasdaq Composite recorded 127 new highs and 16 new lows.About 12.8 billion shares changed hands in U.S. exchanges, +compared with the 11.9 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian; Additional reporting by Shubham Batra; Editing +by Sriraj Kalluvila, Maju Samuel and Cynthia Osterman) \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Wall Street opens lower as big job gains fan inflation fears.txt b/news/AAPL/2023.02.03/Wall Street opens lower as big job gains fan inflation fears.txt new file mode 100644 index 0000000000000000000000000000000000000000..47fb8d13925edd2addc7019c19436bd916217029 --- /dev/null +++ b/news/AAPL/2023.02.03/Wall Street opens lower as big job gains fan inflation fears.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Wall Street’s rally hit a wall after a shocking jobs report showed the U.S. economy created a third of a million more jobs last month than expected, fueling worries about inflation and higher interest rates. The S&P 500 fell 1% in early trading Friday and is on pace for its first drop after three days of big gains. The Dow fell 0.3%, and the tech-heavy Nasdaq composite was 1.7% lower. Treasury yields rose sharply. The market was already headed for a lower open after several of Wall Street’s most influential companies late Thursday reported weaker results than analysts had expected.THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Weaker-than-expected financial performances from some of the country's biggest tech companies dragged U.S. markets lower early Friday and a hot monthly employment report briefly sent futures even lower.Futures for the Dow Jones industrials fell 0.5% while the S&P 500 slipped 1%. Futures for the tech-heavy Nasdaq tumbled 1.8% in off-hour trading after three technology bellweathers — Apple, Amazon and Alphabet — posted lackluster quarterly results after Thursday's close.America’s employers added a robust 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates.The unemployment rate dipped to 3.4%, a new half-century low.Many technologies companies have announced high-profile layoffs recently, but the government's weekly unemployment benefits report Thursday hinted early that job cuts are not that widespread. Fewer workers applied for unemployment benefits last week than expected, and the number dropped to its lowest level since April. There are still nearly two available jobs for every unemployed American.Stocks have gained since the year began on hopes that the U.S. Federal Reserve may soon pause interest rate hikes. Such increases help stamp out inflation but also make borrowing costlier for businesses and households, which slow the economy.Technology companies had been riding high Thursday, coattailing off Facebook parent Meta, which rose 23% after reporting late Wednesday that its revenue beat Wall Street’s muted expectations and announcing a $40 billion stock buyback.But after the bell, Apple posted its first quarterly revenue drop in nearly four years, Amazon reported worse-than-expected fourth-quarter profit, and Google parent Alphabet reported a 34% decline in profit. The three companies' shares were down between 2.6% and 3.6% a couple hours before the bell Friday.The tepid tech results and overnight losses dragged most markets in Asia and Europe lower.At midday, Germany’s DAX tumbled 0.6%, France’s CAC 40 lost 0.2% and Britain's FTSE 100 added 0.2%.Japan's benchmark Nikkei 225 added 0.4% to finish at 27,509.46. Australia's S&P/ASX 200 gained 0.6% to 7,558.10. South Korea's Kospi added 0.5% to 2,480.40. Hong Kong's Hang Seng slipped 1.4% to 21,660.47, while the Shanghai Composite dropped 0.7% to 3,263.41.The yield on the 10-year Treasury, which helps set rates for mortgages and other important loans, fell to 3.40% from 3.42% late Wednesday. The two-year yield, which moves more on expectations for the Fed, held at 4.10%.In energy trading, benchmark U.S. crude fell 13 cents to $75.75 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, dropped 21 cents to $81.96 a barrel in London.In currency trading, the U.S. dollar slipped to 128.43 Japanese yen from 129.67 yen. The euro cost $1.0936, up from $1.0914.——Kageyama reported from Tokyo; Ott reported from Silver Spring, Md.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AAPL/2023.02.03/Wall Street sinks after stunning jobs growth raises questions about Fed.txt b/news/AAPL/2023.02.03/Wall Street sinks after stunning jobs growth raises questions about Fed.txt new file mode 100644 index 0000000000000000000000000000000000000000..caf292f8e595636d3d31c184d961e5576f689331 --- /dev/null +++ b/news/AAPL/2023.02.03/Wall Street sinks after stunning jobs growth raises questions about Fed.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. reports blowout job data; unemployment lowest since +1969*Megapcap earnings reactions: Apple up; Amazon, Alphabet +slump*Ford Motor drops on downbeat outlook*Indexes down: Dow 0.39%, S&P 0.91%, Nasdaq 1.25%(Updates with mid-afternoon trading)Feb 3 (Reuters) - Major U.S. stock indexes fell in +choppy trading on Friday after surprisingly strong jobs data +sparked concerns about aggressive Federal Reserve action, while +investors digested a mixed bag of megacap company earnings +reports.The S&P 500 was still set to end the week with gains and was +not far from five-month highs, while the Nasdaq was on pace for +its fifth straight weekly rise.U.S. job growth accelerated sharply in January, with nonfarm +payrolls surging by 517,000 jobs, well above an estimate of +185,000. The unemployment rate hit a more than 53-1/2-year low +of 3.4%.In another sign of economic strength, U.S. services industry +activity rebounded strongly in January.Investors have been balancing hopeful signs that the economy +could avoid a feared recession against concerns about how long +the Fed will keep interest rates high to rein in inflation. The +S&P 500 gained earlier this week after more dovish-than-expected +comments from Fed Chair Jerome Powell, who acknowledged progress +in the fight against inflation.The jobs report "was an incredible surprise and it raises a +lot of questions about what the Fed is going to do next,” said +Kristina Hooper, chief global market strategist at Invesco. +“What I think is causing some of the volatility is markets +trying to make sense of how the Fed will perceive this.”The Dow Jones Industrial Average fell 132.16 points, +or 0.39%, to 33,921.78, the S&P 500 lost 37.88 points, or +0.91%, to 4,141.88 and the Nasdaq Composite dropped +152.08 points, or 1.25%, to 12,048.74.Wall Street's main indexes have had a solid start to the +year as tech and other stocks that struggled last year have +rebounded, fueled by hopes that the Fed's rate hikes would soon +end and the economy might be able to navigate a soft landing.On Friday, investors were also digesting another heavy +batch of corporate results.Shares of Apple, the largest U.S. company by market +value, were up 3%. The company forecast that revenue would fall +for a second quarter in a row but that iPhone sales were likely +to improve as production had returned to normal in China.Shares of Amazon slumped more than 7% as the +company said operating profit could fall to zero in the current +quarter as savings from layoffs do not make up for the financial +impact of consumers and cloud customers clamping down on +spending.Alphabet shares shed over 2% after the Google +parent posted fourth-quarter profit and sales short of Wall +Street expectations.In other corporate news, Ford Motor shares slid over +7% after the automaker predicted a difficult year ahead.Declining issues outnumbered advancing ones on the NYSE by a +2.69-to-1 ratio; on Nasdaq, a 1.55-to-1 ratio favored decliners.The S&P 500 posted 15 new 52-week highs and one new low; the +Nasdaq Composite recorded 103 new highs and 10 new lows. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian; Additional reporting by Shubham Batra; Editing +by Sriraj Kalluvila, Maju Samuel and Cynthia Osterman) \ No newline at end of file diff --git a/news/AAPL/2023.02.04/Reuters-schedule.txt b/news/AAPL/2023.02.04/Reuters-schedule.txt new file mode 100644 index 0000000000000000000000000000000000000000..7eb395b93f53ebb470460154b5c79128d545144c --- /dev/null +++ b/news/AAPL/2023.02.04/Reuters-schedule.txt @@ -0,0 +1,65 @@ +Here are the top stories and upcoming coverage plans for Reuters +text service as of 11 GMT/06 ET. For a full schedule of news and +events, go to our editorial calendar on Reuters Connect.TOP STORIESGLOBALUSA-CHINA/SPY/Blinken postpones China trip over 'unacceptable' Chinese spy +balloonU.S. Secretary of State Antony Blinken postponed a visit to +China that had been expected to start on Friday after a +suspected Chinese spy balloon was tracked flying across the +United States in what Washington called a "clear violation" of +U.S. sovereignty.POPE-AFRICA/SOUTHSUDAN/Raise your voices against South Sudan injustice, pope tells +ChurchesPope Francis said on Saturday Churches in South Sudan +"cannot remain neutral" but must raise their voices against +injustice and abuse of power, as he and two other Christian +leaders conducted a peace mission to the world's newest country.U.S.USA-OHIO/FIRETrain derailment causes massive fire in Ohio - mediaA train derailed near the border of Ohio and Pennsylvania on +Friday night, causing a massive fire in the area, local media +reported.MEMPHIS-POLICE/Memphis police fire another officer in Tyre Nichols' deathMemphis police on Friday fired a sixth officer involved in +the death of Tyre Nichols, a 29-year-old Black man who was +beaten by officers in the Tennessee city last month.BUSINESSTESLA-PRICES/Tesla raises Model Y prices by $1,000 after U.S. relaxes tax +credit termsTesla Inc raised prices in the United States of its +best-selling vehicle, the Model Y, by $1,000 after the +government raised the ceiling on the price of crossover electric +vehicles eligible for tax credits.TECH-ANTITRUST/META PLATFORMS/U.S. judge denies FTC request to stop Meta from acquiring VR +firm WithinA judge on Friday released a ruling denying the Federal +Trade Commission's request to stop Meta Platforms Inc from +buying virtual reality content maker Within Unlimited, rejecting +the regulator's concerns the deal would reduce competition in a +new market.ENTERTAINMENTMUSIC-TICKETMASTER/BEYONCE/Ticketmaster working to avoid Taylor Swift repeat with +Beyonce ticketsTicketmaster is preparing to sell tickets for Beyonce's +first tour in six years in a different way, hoping to avoid a +repeat of last year's Taylor Swift debacle.FILMFESTIVAL-BERLIN/WE WILL NOT FADE AWAY/Ukrainian filmmaker tells story of teen dreams in war at +BerlinaleWhen Russia invaded Ukraine a year ago, award-winning +Ukrainian filmmaker Alisa Kovalenko put down her camera to join +the battles raging on the country's eastern front.SPORTSSOCCER-SAUDI-FAT-ANA/REPORT/Soccer-Ronaldo nets first goal for Al Nassr to snatch 2-2 +drawCristiano Ronaldo scored his first goal for Al Nassr with a +last-gasp penalty to salvage a 2-2 draw at Al Fateh in a +thrilling Saudi Pro League match on Friday.SOCCER-ENGLAND-MUN-CRY/PREVIEW/Ten Hag satisfied with Manchester United's squad depthManchester United made fewer signings in the January +transfer window compared to other top teams in the Premier +League but manager Erik ten Hag said he is confident the Old +Trafford club have depth in their squad.UPCOMING:SCIENCE / TECHNOLOGYUSA-WEATHER/CALIFORNIA (PIX) (TV)One small California town wonders if its floodplain made the +differenceAs atmospheric rivers dumped trillions of gallons of water +on California in recent weeks, the farm workers of the small +community of Grayson, where the San Joaquin and Tuolumne rivers +converge and historically caused chronic flooding, were spared +disaster. That's what water experts, environmentalists and +farmers had hoped when they restored a flood plain in the area. +But budget cuts threaten future floodplain restoration projects +despite growing evidence that floodplains can replenish ground +water for future drought relief while protecting towns from the +catastrophic flooding that scientists predict will come from +climate change.4 Feb 11:00 ET / 11:00 GMTPOLITICS / INTERNATIONAL AFFAIRSPERU-POLITICS/CONGRESS (PIX) (TV)Why are Peruvian politics such a mess? Inside the halls of +its CongressAs deadly protests rage across Peru, a political battle is +unfolding inside the halls of Congress, walled off from the +streets by hundreds of police, armored vehicles and a maze of +gates. +Reuters spent the last week inside the 130-seat Congress in +capital Lima, talking to lawmakers to ask why Peruvian politics +seems to be in such a mess.4 Feb 11:00 ET / 11:00 GMTCYPRUS-ELECTION/ (PIX) (TV)Cyprus goes to polls to elect new presidentCyprus goes to the polls to elect a new president. Incumbent +Nicos Anastasiades, who heads a centre-right government, is not +seeking a new term.5 FebODDLY ENOUGHPORTUGAL-DOG/RECORD (TV)Meet Bobi, the world's oldest dogBobi, a 30-year-old dog who has lived all his life in a tiny +village in central Portugal, has been named the world's oldest +pooch ever, breaking an almost century-old record. +4 Feb 13:30 ET / 13:30 GMTBUSINESS / ECONOMICSUSA-FED/BULLARDSt. Louis Federal Reserve Bank President Bullard speaks in +VancouverFederal Reserve Bank of St. Louis President James Bullard +gives in-person presentation on "Social Learning for the Masses" +before hybrid "Computational & Experimental Economics" Academic +Workshop hosted by Simon Fraser University, in Vancouver, BC, +Canada.4 Feb 17:15 ET / 17:15 GMTTAIWAN-FOXCONN/Apple supplier Foxconn reports monthly revenueApple supplier Foxconn reports January revenue5 FebARTS / CULTURE / ENTERTAINMENTAWARDS-GRAMMYS/ (PIX) (TV)The 65th Grammy Awards in Los AngelesThe 65th Grammy Awards in Los Angeles.5 Feb \ No newline at end of file diff --git a/news/AAPL/2023.02.05/Foxconn's January sales surge COVID disruption shaken off.txt b/news/AAPL/2023.02.05/Foxconn's January sales surge COVID disruption shaken off.txt new file mode 100644 index 0000000000000000000000000000000000000000..8c21a3f31e1da10fe836840beaba3c74aebb8a16 --- /dev/null +++ b/news/AAPL/2023.02.05/Foxconn's January sales surge COVID disruption shaken off.txt @@ -0,0 +1 @@ +Revenue in January reached a record high, with operations returning to normal and shipments increasing at the Zhengzhou campus in China, a centre for iPhone production, the company said in a statement.Production of iPhones faced disruption ahead of Christmas and January's Lunar New Year holidays, after curbs to control COVID-19 prompted thousands of workers to leave Foxconn's factory lines in Zhengzhou. (Reporting by Ben Blanchard and Meg Shen; Editing by Lincoln Feast.) \ No newline at end of file diff --git a/news/AAPL/2023.02.05/Retailers offering discounts on high-end iPhones in China.txt b/news/AAPL/2023.02.05/Retailers offering discounts on high-end iPhones in China.txt new file mode 100644 index 0000000000000000000000000000000000000000..a9f5f9b54d4b0580cef2d700310e4c9aba81ae63 --- /dev/null +++ b/news/AAPL/2023.02.05/Retailers offering discounts on high-end iPhones in China.txt @@ -0,0 +1 @@ +Electronics vendors JD.Com Inc and Suning are currently selling the iPhone 14 Pro basic model for 7,199 yuan ($1,062), checks of the JD.com's app and Suning's website showed. That is 800 yuan cheaper than the standard price on Apple's official China website.A number of other authorised Apple third party sellers are offering similar discounts on the iPhone 14 pro and Pro Max, Reuters checks of promotions on social media showed.Apple did not immediately respond to a request for comment.The China Securities Journal first reported the price cuts on Sunday.($1 = 6.7782 Chinese yuan) (Reporting by Josh Horwitz; Editing by Edwina Gibbs) \ No newline at end of file diff --git a/news/AAPL/2023.02.05/Reuters-schedule.txt b/news/AAPL/2023.02.05/Reuters-schedule.txt new file mode 100644 index 0000000000000000000000000000000000000000..7e3fe95d69f606af61e33f2706257393e7d76335 --- /dev/null +++ b/news/AAPL/2023.02.05/Reuters-schedule.txt @@ -0,0 +1,107 @@ +Here are the top stories and upcoming coverage plans for Reuters +text service as of 11 GMT/06 ET. For a full schedule of news and +events, go to our editorial calendar on Reuters Connect.TOP STORIESGLOBALPAKISTAN-MUSHARRAF/Pakistan ex-President Pervez Musharraf dies in Dubai after +years in exileISLAMABAD/DUBAI, Feb 5 (Reuters) - Pakistani former +President Pervez Musharraf died on Sunday following a prolonged +illness at a hospital in Dubai, after years in self-imposed +exile.POPE-AFRICA/SOUTHSUDAN/Pope Francis wraps up South Sudan trip, urges end to 'blind +fury' of violenceJUBA, Feb 5 (Reuters) - Pope Francis urged the people of +South Sudan on Sunday to resist the "venom of hatred" so they +could achieve the peace and prosperity that have eluded them +through years of bloody ethnic conflicts.U.S.USA-CHINA/SPY-BIDEN/U.S. fighter jet shoots down suspected Chinese spy balloon +with missileSURFSIDE BEACH, S.C., Feb 4 (Reuters) - A U.S. military +fighter jet shot down a suspected Chinese spy balloon off the +coast of South Carolina on Saturday, a week after it first +entered U.S. airspace and triggered a dramatic -- and public -- +spying saga that worsened Sino-U.S. relations.USA-WEATHER/Brutal cold seizes northeast U.S., shattering record lowsA dangerous combination of record-setting cold temperatures +and powerful winds buffeted the northeastern United States on +Saturday, creating life-threatening conditions and causing the +death of an infant in Massachusetts.BUSINESSTAIWAN-FOXCONN/Foxconn's January sales surge COVID disruption shaken offTAIPEI, Feb 5 (Reuters) - Taiwan's Foxconn 2317.TW, the +world's largest contract electronics maker and major iPhone +assembler for Apple Inc AAPL.O, said on Sunday that revenue in +January jumped 48.2% year-on-year, as it shook off COVID +disruptions in China.SAUDI-ENERGY/Saudi minister warns sanctions, underinvestment may cause +energy shortagesDUBAI, Feb 5 (Reuters) - Saudi Energy Minister Prince +Abdulaziz bin Salman warned on Saturday that sanctions and +underinvestment in the energy sector could result in a shortage +of energy supplies.ENTERTAINMENTAWARDS-GRAMMYS/At Sunday's Grammys, will Beyonce finally win top honor of +best album?LOS ANGELES, Feb 5 (Reuters) - Pop superstar Beyonce, winner +of more Grammy awards than any other female artist, has never +taken home the coveted album of the year trophy at the music +industry's highest honors.MUSIC-TICKETMASTER/BEYONCETicketmaster working to avoid Taylor Swift repeat with +Beyonce ticketsTicketmaster is preparing to sell tickets for Beyonce's +first tour in six years in a different way, hoping to avoid a +repeat of last year's Taylor Swift debacle.SPORTSBASKETBALL-NBA/JAMES/LeBron James returns to Los Angeles with history in his +graspLOS ANGELES, Feb 4 (Reuters) - Lakers forward LeBron James +returns to Los Angeles on the verge of becoming the NBA's +all-time leading scorer after wrapping up a five-game road trip +in New Orleans on Saturday night.CRICKET-TEST-IND-AUS/Cricket-Hazlewood to miss first India test, McDonald hopeful +of Green returnThe Australian cricket team's injury concerns continue to +mount before their first test against India with seasoned fast +bowler Josh Hazlewood ruled out of next week's opener in Nagpur, +which begins on Thursday.UPCOMING:POLITICS / INTERNATIONAL AFFAIRSDENMARK-POLITICS/ (PIX) (TV)Danish unions organize demonstration against +government's proposal to remove a public holidayThousands of protesters are expected to gather on Sunday in +front of the Danish parliament in Copenhagen to protest a bill +by the newly-formed government to a scrap a public holiday it +says will help finance increased defence spending.5 Feb 13:00 ET / 13:00 GMTNIGERIA-ELECTION/CANDIDATESFACTBOX: The main candidates contesting Nigeria's +presidential electionNigerians will go the polls to vote for a new president on +Feb. 25 to takeover from Muhammadu Buhari in a contest pitting +the old guard of Nigerian politics and a third-party candidate +who is seeking to upset the established political order. There +are 18 candidates but Bola Tinubu from the ruling party, main +opposition leader Atiku Abubakar and Peter Obi from the smaller +Labour Party, have a realistic chance of winning.6 FebECUADOR-POLITICS/Results expected in Ecuador extradition, assembly seat +referendumsResults are expected early on Monday from a weekend +referendum in Ecuador where voters were asked whether they +backed cutting the number of legislators and opening their +fellow citizens to potential extradition abroad in certain +criminal cases.6 FebUKRAINE-CRISIS/NATONATO deputy secretary general, defence minister of +Sweden/Finland and Norway PM attend Leangkollen security +conference in OsloNorway PM, defence ministers of Sweden and Finland, deputy +secretaty general of NATO, various Norwegian military chiefs are +attending two-day conference dedicated to the war in Ukraine. +The title of this year’s conference is "The Age of Great Power +Competition - Democracy Versus Autocracy in Light of Russia’s +War against Ukraine". The NATO Deputy Secretary General will +deliver a speech during the Opening Session “Ukraine Holds the +Future of Democracy and Security in Europe”.6 FebBRITAIN-STRIKES/HEALTH (PIX) (TV)Britain's NHS faces biggest day of industrial actionBritain's hospitals face huge disruption as nursing, +ambulance and other staff stage walk-outs making Feb. 6 the +biggest day of industrial action to hit in the healthcare sector +in the current pay dispute.6 FebCRIME / LAW / JUSTICEHONGKONG-SECURITY/ (PIX) (TV)Trial of 47 Hong Kong democracy activists charged with +conspiracy to commit subversion begins +A closely monitored national security trial involving 47 Hong +Kong democracy campaigners charged with conspiracy to commit +subversion begins today and will last for 90 days.6 FebBRITAIN-COURT/POLICE (TV)UK police officer sentenced for sex offencesBritish police officer David Carrick sentenced for multiple +sex offences including rape. Sentencing could take place over +several days6 FebHERMES-NFTS/LAWSUITHermes, NFT artist make closing arguments in 'MetaBirkins' +trialClosing arguments are expected in Manhattan federal court in +Hermes' lawsuit claiming artist Mason Rothschild's "MetaBirkin" +non-fungible tokens infringe trademarks for the French fashion +house's famous handbags. The company called Rothschild a +"digital speculator" and MetaBirkins a "get rich quick" scheme +that is likely to cause confusion. Rothschild said his NFTs are +protected by the First Amendment of the U.S. Constitution.6 FebARTS / CULTURE / ENTERTAINMENTJAPAN-ART/BODY PARTS (PIX) (TV)From fleshy coin purse to iPhone case, Japanese artist +creates realistic human body artworkA Japanese artist and DJ creates hyper realistic flesh-like +objects such as mouth-shaped coin purse, blinking eye dice and +"human skin" iPhone case, using silicon rubber. Some of his +products are so popular that he even received customized orders +from overseas.6 FebFASHION-NEW YORK/PREVIEW (PIX) (TV)A look at what's to come during New York Fashion WeekA look at what's to come during New York Fashion Week.6 FebBUSINESS / ECONOMICSTAKETWO-RESULTS/Take-Two Interactive Software Inc Reports Third Quarter +ResultsTake-Two Interactive Software Inc is expected to report a +rise in quarterly revenue driven by resilient demand for its +popular video game tites "NBA 2K23" and ""Grand Theft Auto V." +However, investors will look forward to its commentry on release +slate.6 FebMONEY-STUDY/HAPPINESSMoney and Meaning? The world's longest happiness study has +answersCan money buy happiness? Here is what the world’s longest +study on happiness can teach us about our lives, our careers +and, yes, our money, based on a new book called "The Good Life."6 FebUSA-CORN/U.S. farmers plan to go 'heavy on corn' in 2023 despite +risksU.S. farmers are planning to boost corn acreage in 2023, +eyeing lower prices of fertilizer needed to grow the crop and +hoping to boost stocks after a late season drought withered last +year's grain harvest and left U.S. corn supplies at a decade +low.6 FebCANADA-CENBANK/SURVEYBank of Canada publishes a "market participants" survey for +first timeBank of Canada publishes a "market participants" survey for +first time6 FebMINING-INDABA/Mining Indaba conference takes place in Cape TownThe Investing in African Mining Indaba conference takes +place in Cape Town from February 6 to February 9, bringing +together mining company executives, investors, and mines +ministers from across Africa and beyond to discuss industry +issues and to network.6 Feb \ No newline at end of file diff --git a/news/AAPL/2023.02.05/Taiwan exports seen contracting for fifth straight month in January.txt b/news/AAPL/2023.02.05/Taiwan exports seen contracting for fifth straight month in January.txt new file mode 100644 index 0000000000000000000000000000000000000000..dd4664d9aaec93196369e50ef2a1ce6b565d750c --- /dev/null +++ b/news/AAPL/2023.02.05/Taiwan exports seen contracting for fifth straight month in January.txt @@ -0,0 +1 @@ +Taiwan, a global hub for chip production and a key supplier to Apple Inc, is one of Asia's leading exporters of technology goods. The trade data is seen as an important gauge of world demand for tech gadgets.Exports were estimated to have dropped 20% in January from a year earlier, a Reuters poll of 18 analysts showed on Monday, a faster rate than the 12.1% annual contraction seen in December.The export forecasts varied widely, projecting a contraction of between 12.2% and 30%. The variation reflected uncertainties over the global economy, supply chain disruptions due to COVID cases in China, and the fallout of the Russia-Ukraine war.Taiwan's finance ministry said last month that January exports could be down by 20%-24% from a year earlier.Separately, the consumer price index was expected to have been 2.69% higher in January than a year earlier, rising slower than the 2.71% annual rate seen in December, according to the poll.The trade data will be released on Tuesday followed by the inflation data on Thursday. (Poll compiled by Madhumita Gokhale and Carol Lee; Reporting by Ben Blanchard; Editing by Janane Venkatraman) \ No newline at end of file diff --git a/news/AAPL/2023.02.06/'Call of Duty' steers Activision sales in tough quarter for game makers.txt b/news/AAPL/2023.02.06/'Call of Duty' steers Activision sales in tough quarter for game makers.txt new file mode 100644 index 0000000000000000000000000000000000000000..14d823ee42fa661e2d00b0b21c5afc692deee68f --- /dev/null +++ b/news/AAPL/2023.02.06/'Call of Duty' steers Activision sales in tough quarter for game makers.txt @@ -0,0 +1,32 @@ +Feb 6 (Reuters) - Videogame publisher Activision +Blizzard beat Wall Street estimates for fourth-quarter +adjusted sales on Monday, thanks to the success of the latest +game in its "Call of Duty" franchise.A string of launches in October and November, including +"Call of Duty: Modern Warfare II", "Warzone 2.0" and "World of +Warcraft: Dragonflight" from the fantastical world of "Azeroth", +helped the company hold the attention of the gaming community.Activision's results are a bright spot as some of its +industry peers including Electronics Arts, Take-Two +Interactive Software and Xbox maker Microsoft +have reported drab results.The video-gaming industry is feeling the squeeze of +inflation as American households tighten their budgets. However, +Activision has managed to largely avoid the issues plaguing the +wider industry and keep the buzz around its news launches +through its focus on building strong gaming franchises."Modern Warfare II" delivered the highest +opening-quarter sell-through in the franchise's history and +crossed the $1 billion mark within 10 days of its late-October +launch, the company said."Our specialists have highlighted a flight to quality by +gamers and that is what Activision Blizzard is experiencing," +said Nicholas Cauley, an analyst at global research firm Third +Bridge.Activision expects its full-year adjusted sales to grow at +least in high-single digits, bolstered by the launch of games +including "Diablo IV."Adjusted sales in the quarter ended Dec. 31 came in at $3.57 +billion, compared with analysts' estimate of $3.16 billion, +according to Refinitiv data.Activision's $69-billion takeover by Microsoft is being +challenged by the U.S. Federal Trade Commission and being +investigated by EU authorities. Activision said the companies +are continuing to engage with regulators reviewing the +transaction.Fourth quarter net income fell to $403 million, or 51 cents +per share, from $564 million, or 72 cents per share, a year +earlier. +(Reporting by Chavi Mehta in Bengaluru; Editing by Anil +D'Silva) \ No newline at end of file diff --git a/news/AAPL/2023.02.06/APPLE INC : UBS keeps its Buy rating.txt b/news/AAPL/2023.02.06/APPLE INC : UBS keeps its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..d3a80c2ed4d2c7f2ee013963c552d0904e96d61b --- /dev/null +++ b/news/AAPL/2023.02.06/APPLE INC : UBS keeps its Buy rating.txt @@ -0,0 +1 @@ +UBS is positive on the stock with a Buy rating. The target price is unchanged at USD 180. \ No newline at end of file diff --git a/news/AAPL/2023.02.06/Apple reports first quarter results.txt b/news/AAPL/2023.02.06/Apple reports first quarter results.txt new file mode 100644 index 0000000000000000000000000000000000000000..89e5e5bb5186ef966717cb0d0d8e69c53658483e --- /dev/null +++ b/news/AAPL/2023.02.06/Apple reports first quarter results.txt @@ -0,0 +1 @@ +Installed base crosses 2 billion active devices and hits all-time high for all major product categories.Services set new all-time revenue recordCupertino, California Apple today announced financial results for its fiscal 2023 first quarter ended December 31, 2022. The Company posted quarterly revenue of $117.2 billion, down 5 percent year over year, and quarterly earnings per diluted share of $1.88.'As we all continue to navigate a challenging environment, we are proud to have our best lineup of products and services ever, and as always, we remain focused on the long term and are leading with our values in everything we do,' said Tim Cook, Apple's CEO. 'During the December quarter, we achieved a major milestone and are excited to report that we now have more than 2 billion active devices as part of our growing installed base.''We set an all-time revenue record of $20.8 billion in our Services business, and in spite of a difficult macroeconomic environment and significant supply constraints, we grew total company revenue on a constant currency basis,' said Luca Maestri, Apple's CFO. 'We generated $34 billion in operating cash flow and returned over $25 billion to shareholders during the quarter while continuing to invest in our long-term growth plans.'Apple's board of directors has declared a cash dividend of $0.23 per share of the Company's common stock. The dividend is payable on February 16, 2023 to shareholders of record as of the close of business on February 13, 2023.Apple will provide live streaming of its Q1 2023 financial results conference call beginning at 2:00 p.m. PT on February 2, 2023 at apple.com/investor/earnings-call. This webcast will be available for replay for approximately two weeks thereafter.Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about the payment of the Company's quarterly dividend, its installed base growth, and its long-term plans. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: effects of global and regional economic conditions, including as a result of government policies, war, terrorism, natural disasters, and public health issues; risks relating to the design, manufacture, introduction, and transition of products and services in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, and content; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; and effects of unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. More information on these risks and other potential factors that could affect the Company's business, reputation, results of operations, financial condition, and stock price is included in the Company's filings with the SEC, including in the 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.About AppleApple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple's five software platforms - iOS, iPadOS, macOS, watchOS, and tvOS - provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple's more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.Press ContactJosh RosenstockApplejrosenstock@apple.com(408) 862-1142Investor Relations ContactTejas GalaAppletgala@apple.com(669) 227-2402(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AAPL/2023.02.06/Director Vacates PTAB Adverse Judgments In Precedential Director Review.txt b/news/AAPL/2023.02.06/Director Vacates PTAB Adverse Judgments In Precedential Director Review.txt new file mode 100644 index 0000000000000000000000000000000000000000..8099e672d8b11f5dc205d26ecce96b8aa683f91b --- /dev/null +++ b/news/AAPL/2023.02.06/Director Vacates PTAB Adverse Judgments In Precedential Director Review.txt @@ -0,0 +1,14 @@ +Director Vidal's sua sponte Director Review decision of Apple Inc. v. Zipit Wireless, Inc. (IPR2021-01124, -01125, -01126, -01129) was recently designated as precedential.  The decision dealt an immediate setback for Apple and will likely have a long-term effect on inter partes review (IPR) procedures.Apple filed six petitions for IPRs before the Patent Trial and Appeal Board (“Board”).  The Board instituted IPRs for all six petitions which were assigned to the same panel of Administrative Patent Judges (APJs).  The patent owner, Zipit, filed Patent Owner responses to only two of the IPRs (IPR2021-01130 and IPR2021-01131).  At the Board hearing for IPR2021-01130 and IPR2021-01131, Zipit's council was asked if the failure to file responses to the remaining four IPRs meant that Zipit was “not contesting if a final written decision or adverse judgment was entered with respect to those IPRs.”  Zipit's counsel responded, “Correct, Your Honor.  If the Board determines that they have met their burden of proof with respect to those claims Zipit hasn't filed any opposition.”  The Board subsequently entered adverse judgments under Rule 42.73(b) for the four remaining IPRs in favor of Apple, asserting that Zipit's statements at the Board hearing was an abandonment of the contests.The adverse judgments, and the Board's reasoning for entering them, prompted Director Vidal's sua sponte precedential decision.  In the decision, Director Vidal questioned the Board's interpretation of the Zipit council's statements to imply an unequivocal abandonment of the contest.  Instead, the Director interpreted Zipit's statements to mean that Zipit wanted the Board to weigh Apple's evidence addressing the patentability of the challenged claims in the four IPRs and then make the necessary determination under the standard used in IPR proceedings.  As the Board did not meet this standard, Director Vidal vacated the adverse judgments and remanded the IPRs back to the Board.The decision provides some clarity regarding whether a patent owner must formally respond to all IPRs instituted against them or risk abandonment of contest.  Director Vidal's decision suggests a patent owner may participate in one or more IPRs while asserting that the Board must still follow the procedural standard of determining unpatentability by a preponderance of evidence for the remaining IPRs, regardless of whether a response is filed.Perhaps more importantly, this decision provides an important practice point: all parties participating in an IPR must choice their words wisely.  As evident from the Director's need to issue a decision clarifying the statements of record, failing to clearly express your parties' intentions can result in a costly outcome.  Expressing clear intent can maximize the chance that the PTAB makes procedural rules according to the parties' wishes.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mitsi Blount +Jones Day +100 High Street +21st Floor +Boston +Maine +02110-1781 +UNITED STATES +Tel: 2165863939 +Fax: 2165790212 +E-mail: info@JonesDay.com +URL: www.jonesday.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AAPL/2023.02.06/EU's Breton urges rethink on cross-border telecoms mergers.txt b/news/AAPL/2023.02.06/EU's Breton urges rethink on cross-border telecoms mergers.txt new file mode 100644 index 0000000000000000000000000000000000000000..12ec8985308bd9f0358c4e0f1838685f759d6c82 --- /dev/null +++ b/news/AAPL/2023.02.06/EU's Breton urges rethink on cross-border telecoms mergers.txt @@ -0,0 +1 @@ +EU antitrust chief Margrethe Vestager has been reluctant to allow telecoms providers acquire EU peers without hefty remedies, especially when deals reduce the number of players from four to three, underlining concerns about the market power of fewer but larger telecoms operators.The telecoms industry however said consolidation is required to pool resources to roll out costly fast-speed broadband and 5G."I believe that creating a true single market for telecommunications services also requires a reflection on encouraging cross-border consolidation, all while preserving fair and necessary competition for the benefit of our consumers," Breton said in a speech to be delivered at an event in Helsinki.On the issue of whether Alphabet Inc's Google, Meta, Amazon.com Inc, Netflix Inc, Apple Inc and Microsoft Corp should bear some network costs, Breton said the European Commission will launch a consultation this month on the topic."The investments which will be required to achieve our ambitions will be enormous and we need to ensure that they are matched by the availability of sufficient funding. The burden of this financing should not be only on the shoulders of the member states or the EU budget," he said."At a time when technology companies are using most bandwidth and telco operators are seeing their return on investment drop, this also raises the question of who pays for the next generation of connectivity infrastructure," Breton said. (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)By Foo Yun Chee \ No newline at end of file diff --git a/news/AAPL/2023.02.06/Japanese artist creates flesh-like accessories.txt b/news/AAPL/2023.02.06/Japanese artist creates flesh-like accessories.txt new file mode 100644 index 0000000000000000000000000000000000000000..10286e0fabcc4d89f0a8e837b7457161ca0d2a82 --- /dev/null +++ b/news/AAPL/2023.02.06/Japanese artist creates flesh-like accessories.txt @@ -0,0 +1 @@ +Would you use this coin purse that looks like human flesh? This Japanese DJ drew inspiration from horror and sci-fi movies to create a series of hyper-realistic functional accessories This eye dice has a realistic blinking function activated by a remote control [Masataka Shishido, Japanese artist and DJ] "I'm a DJ and I produce music. I created a fleshy MIDI pad controller as artwork for my album, and that's how I started. I want everyone to know that I like horror and science fiction movies, so I made an album sleeve with the idea of combining human flesh with the machine that I use to make music." Shishido draws the design by hand before having it made using siliconIt takes about one to two months to turn an idea into a realistic artworkOf the 30 fleshy objects he's designed so far, he says the eyes and mouth are most popularShishido even gets customized orders to replicate customers' own eyes and mouth and sells his products to celebrities including American rapper Lil Yachty "At the beginning, almost everyone felt it was gross when I made the fleshy MIDI pad controller and iPhone case. Gradually, people realized that it wasn't all that disgusting, after I created objects that can be used as stamps, and a mouth-shaped coin case that you can put coins through the lips and carry around. Once people learned that it's a piece of art with some specific function, they started saying it's cute and interesting." \ No newline at end of file diff --git a/news/AAPL/2023.02.06/U.S. employment weighs on markets.txt b/news/AAPL/2023.02.06/U.S. employment weighs on markets.txt new file mode 100644 index 0000000000000000000000000000000000000000..2af7582aa51c68dd30b4c03bfa5ad8e7b7677bf0 --- /dev/null +++ b/news/AAPL/2023.02.06/U.S. employment weighs on markets.txt @@ -0,0 +1,43 @@ + +Equity markets posted another weekly gain, but the party was spoiled by a complicated Friday session in the US. Going into the details, quite a bit has happened in the last few sessions, of which I will focus on citing the most important here. +Firstly, The Fed's first monetary policy decision of 2023 was in line with expectations, with a small rate hike. But Jerome Powell was less combative than expected, which increased investors' risk appetite, who believe that the US central bank is moving towards a more favorable policy.  +Secondly, big American technology groups such as Apple, Alphabet, and Amazon have published mediocre quarterly results. Don't worry about them, they are still raking in billions. But they are not so proud of it because the sales figures are not so good. I would like to remind you that it is complicated to make a turnover look better than it really is. But it is quite easy to make earnings per share match market expectations with a minimum of accounting ingenuity and a few well-intentioned share buybacks. +Thirdly, the monthly US employment report published on Friday highlighted the saying "good news for the economy is not necessarily good news for the financial markets". Because the US economy is still going strong, at least from the point of view of the labor market where job creation is explosive and the unemployment rate is at a low point (for a more nuanced view, read a paper by economist James Knightley here). Written like that, it sounds like good news. And it probably is. But not from the point of view of US central bankers, who fear that this momentum could undermine their efforts to slash inflation in a sustainable way. At this stage, there are no signs of a price-wage spiral (rising prices lead to rising wages, which lead to rising prices, which... you get the idea). At least not in the same proportions: wages are rising, but less than prices. However, the statistic dampened the optimism seen in Tuesday, Wednesday and Thursday's sessions. Bond yields accelerated sharply on the 10-year US bond, which is a sign of the return of some tension on the path of monetary policy. But let's not get carried away: these yields are still a long way from the levels of the fall of 2022 when uncertainty about the evolution of inflation was at its peak. +The equity and bond markets feel that the central banks are getting closer to the end of their rate hike cycle. However, some doubts remain and investors are navigating with the statistics that confirm or refute these doubts. Among the main unknowns are + +The precise level of the rate peak +How long rates will remain at the peak level (and by implication the question of when the first drop in the cycle will occur) +And the profound economic consequences of current rate levels (on real estate, corporate financing, household consumption, etc.) + +Returning to last week's performance, Western equity markets posted gains generally between 1 and 2%, rising to over 3% for the Nasdaq 100, the major index that best symbolizes risk appetite. The French CAC40 performed well, gaining nearly 2%. The Parisian index was up thanks to technology companies and its exposure to luxury goods, which is an excellent mirror of the Chinese recovery. +Let's talk about China because Hong Kong and Shanghai are down sharply this morning. This is due to the renewed geopolitical tension between Washington and Beijing after the case of the Chinese observation balloon that drifted in the sky of the United States last week. The discovery of the balloon was initially surprising, but then China explained that it was a civilian balloon that had gone astray, which nobody believed. The balloon was eventually shot down: America could not afford to let a Chinese craft roam in its airspace. Beijing took offense. This is the typical action-reaction game of this kind of situation. Nevertheless, this affair comes at a bad time, since the two powers had planned to hold high-level talks. +In other news over the weekend, India will ban betting and lending apps linked to China. The EU is imposing a cap on Russian diesel exports and a massive earthquake hit southern Turkey and Syria. The macroeconomic calendar will be mostly filled with Asia this week, but it seems that investors are more concerned with the Fed boss' speech tomorrow at 6 pm. Will he get a clear message across after seeming to miss the point last week? That is the question. On the corporate front, the list is still particularly long this week. I'll mention a few to get you in the mood: Linde, BP Plc, BNP Paribas, Carlsberg (Tuesday), Walt Disney, TotalEnergies, CVS Health, Uber, AP Moller Maersk, Adyen, Societe Generale, Akzo, Amundi (Wednesday), AbbVie, PepsiCo, AstraZeneca, L'Oréal, Philip Morris, Unilever, S&P Global, PayPal, Siemens, Vinci, Compass, KBC, Legrand, Crédit Agricole (Thursday). Finally, there were a few capital transactions, including the "unsolicited" takeover offers of Newcrest by Newmont Corporation (that's in gold mining) and of Life Storage by Public Storage (that's in personal storage). +Economic highlights of the day: +German factory orders in December (3:00 am) and Eurozone retail sales in December (5:00am) will enliven the session. All the agenda here. +  +The dollar is up 0.2% to EUR 0.9288 and down 0.07% to GBP 0.8298. The ounce of gold is down to 1872 USD. Oil is also under pressure, with North Sea Brent crude at USD 80.18 a barrel and US WTI light crude at USD 73.70. The yield on 10-year US debt rebounds to 3.55%. Bitcoin is falling back to around USD 22,800. + +In corporate news: + +Newmont said it has made a $16.9 billion bid for Australian miner Newcrest Mining to build a global gold conglomerate. +Chevron has entered into negotiations with Algeria to undertake energy exploration activities in the North African country.  +Dell will cut about 6,650 jobs, or about 5 percent of the computer giant's global workforce, due to declining demand for its personal computers. +Oracle plans to invest $1.5 billion in Saudi Arabia in the coming years to build its cloud presence in the country. +Public Storage, the largest U.S. operator of self-storage properties, announced Sunday that it had made an unsolicited $11 billion bid for rival Life Storage Inc. +Carlyle has hired Harvey Schwartz, a former Goldman Sachs executive, as the private equity firm's next chief executive. +Tesla raised U.S. prices for its best-selling Model Y vehicle by $1,000 after the government raised the price cap on crossover electric vehicles eligible for tax credits. +Rogers - Starboard Value has amassed a significant stake in the electronic materials company and is seeking seats on the group's board. +Southwest Airlines - The airline's chief operating officer, Andrew Watterson, will testify on Feb. 9 before the U.S. Senate Commerce Committee after the group's operational problems in December led to the cancellation of more than 16,000 flights. + +Analyst recommendations: + +Hartford Financial Services Group: Piper Sandler raised the target to $96 from $83. Maintains overweight rating. +Lear: Evercore upgrades to inline from outperform. PT up 2.7% to $145. +M/I Homes: Wedbush raised the target to $73 from $63. Maintains outperform rating. +NVR: KeyBanc Capital Markets starts NVR at Sector Perform with $6,000 Price Target. +Pool: Stifel downgrades to hold from buy targeting $360. +RH: Telsey Advisory Group cut the recommendation to market perform from outperform. Price Target down 4% to $330. +Saia: Benchmark Company maintains buy rating to $320 from $230. Maintains buy rating. +Tesla: Guggenheim raised to $105 from $89. + + diff --git a/news/AAPL/2023.02.07/Arm CEO says firm fully committed to a market listing this year.txt b/news/AAPL/2023.02.07/Arm CEO says firm fully committed to a market listing this year.txt new file mode 100644 index 0000000000000000000000000000000000000000..e18e3ba0b72d5f008608ac0a62051937b49e160f --- /dev/null +++ b/news/AAPL/2023.02.07/Arm CEO says firm fully committed to a market listing this year.txt @@ -0,0 +1 @@ +"The plans are actually fairly well developed and underway now," Rene Haas said in an interview after Arm's corporate parent reported its fourth straight quarter of losses. "We're doing everything we can and are committed to have it happen this year."Arm's fiscal third quarter sales were up 28% to $746 million, one of the few growth areas for Softbank as its vast portfolio of early stage technology startup investments weighed on its results.Arm is the world's biggest supplier of chip design elements used in smartphones, selling intellectual property to companies like Apple Inc and Qualcomm Inc. Arm makes money off upfront licensing deals with such companies and then a royalty on each chip sold using its technology. Part of Haas' strategy has been to speed up Arm's push into other markets such as data center servers, where companies like Amazon.com Inc's cloud unit are using Arm-based chips. Those efforts helped boost upfront license revenue 65% to $300 million as Arm signed new deals in cloud computing and other segments, though company executives conceded that some of the growth was driven by multiple deals landing at once. Arm said per-chip royalties, which are steadier than its deal-making business, were up 12% to $446 million in the quarter. That growth came amid a slowdown in the smartphone business that dragged down results at Apple and Qualcomm. Haas said Arm is "not immune" to the softening smartphone market but that the company has licensed more intellectual property into each chip than in the past. With the most advanced phone chips now using 10 to 12 computing cores along with the newest version of Arm's computing architecture, he said that translates into higher royalties for each chip sold."The diversification that we've done and, in core markets, just having more technology in the chips means that we've been able to withstand the downturn better than most," Haas said. (Additional reporting by Muvija M and Paul Sandle; Editing by Alistair Smout and Bill Berkrot)By Stephen Nellis \ No newline at end of file diff --git a/news/AAPL/2023.02.07/Exclusive-French adtech firm Criteo in new bid to sell itself -sources.txt b/news/AAPL/2023.02.07/Exclusive-French adtech firm Criteo in new bid to sell itself -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..70295a1d2d989e86afa08d31adb7426b07fb574d --- /dev/null +++ b/news/AAPL/2023.02.07/Exclusive-French adtech firm Criteo in new bid to sell itself -sources.txt @@ -0,0 +1 @@ +The Paris-based company, which is listed in New York, kicked off a sale process last week that could attract other companies and private equity firms, one of the sources said. Investment bank Evercore Inc is advising Criteo on the process, the sources added.Bloomberg News reported in 2021 that Criteo was fielding takeover interest. It was not immediately clear what prompted the new deal talks. The company has been seeking to reassure shareholders it can overcome challenges to its business of tracking consumer data as iPhone maker Apple Inc and Android developer Google tighten privacy standards on their devices. The sources, who cautioned that no deal is certain, requested anonymity as these discussions are confidential. Criteo declined to comment, while an Evercore spokesperson did not immediately respond to a request for comment.Criteo shares jumped on the news and were up 8% at $33.65 in New York on Tuesday, giving the company a market value of about $2 billion.The sale process for Criteo will likely pique the interest of buyout firms that have shown strong interest in audience measurement and analytics companies. In October, Elliott Investment Management's private equity arm and Brookfield Business Partners LP acquired Nielsen Holdings Plc for $16 billion. Truist analyst Matthew Thornton wrote in a note to clients after the Reuters report that his analysis indicated Criteo could fetch more than $60 per share if it was acquired at the same valuation multiple as Nielsen. Criteo collects data through partnerships with companies, ad agencies and brands, and earns money by charging advertisers when consumers click on personalized ads. It has been utilizing so-called first-party media technology, which relies on data that consumers provide to websites either through direct input or through tracking "cookies," to overcome the introduction of privacy settings on devices such as the iPhone. These tactics face new challenges as Google prepares to phase out cookies on its popular web browser Chrome as early as next year. In response, Criteo has been investing in its fast-growing retail media business, which involves partnering directly with the websites of retailers. Criteo has reported adjusted earnings before interest, taxes, depreciation and amortization of $163 million for the first nine months of 2022, down 23% from a year earlier. It is scheduled to report fourth-quarter earnings on Wednesday. (Reporting by Milana Vinn in New York; editing by Jonathan Oatis and Nick Zieminski)By Milana Vinn \ No newline at end of file diff --git a/news/AAPL/2023.02.07/Intel, ParkerVision settle chip patent lawsuit during Texas trial.txt b/news/AAPL/2023.02.07/Intel, ParkerVision settle chip patent lawsuit during Texas trial.txt new file mode 100644 index 0000000000000000000000000000000000000000..be9bdc135ba58071697a4ddc5003a88419936a60 --- /dev/null +++ b/news/AAPL/2023.02.07/Intel, ParkerVision settle chip patent lawsuit during Texas trial.txt @@ -0,0 +1,33 @@ +*ParkerVision said Intel wireless chips infringe patents*Companies settled case during second day of West Texas +trial(Reuters) - Chipmaking giant Intel Corp on +Tuesday settled a patent lawsuit brought by wireless technology +developer ParkerVision Inc on the second day of a West +Texas jury trial in the case, court records showed.A ParkerVision filing with the U.S. Securities and Exchange +Commission on Tuesday said it would receive $25 million in a +settlement that also includes a patent licensing agreement.An Intel spokesperson confirmed that the companies +settled but declined to provide further details. A ParkerVision +spokesperson declined to comment. ParkerVision stock was down +48% Tuesday afternoon.Jacksonville, Florida-based ParkerVision sued Intel in Waco, +Texas in 2020 for infringing several patents related to improved +radio-frequency receivers. ParkerVision had said it pioneered +the communications technology used in Intel's wireless chips in +the mid-1990s.ParkerVision said Intel chips used in smartphones, including +Apple's iPhone, infringe the patents. Intel denied the +allegations, arguing the patents are invalid and its technology +works in different ways.A ParkerVision expert told the court that Intel should pay +more than $294 million in royalties for the alleged +infringement, according to a court filing.ParkerVision has also sued companies including Apple, +Qualcomm and TCL for patent infringement over wireless chips and +devices that use them.A Florida federal judge overturned a $173 million jury +verdict for ParkerVision against Qualcomm in 2014. The U.S. +Court of Appeals for the Federal Circuit upheld the decision in +2015.Santa Clara, California-based Intel has been hit with two +verdicts in Waco for damages totaling over $3 billion in a +separate, ongoing patent fight with VLSI Technology LLC over +Intel computer chips.The ParkerVision case is ParkerVision Inc v. Intel Corp, +U.S. District Court for the Western District of Texas, No. +6:20-cv-00108.For Intel: Michael Summersgill, Sarah Petty, Todd Zubler, +Mindy Sooter and Robert Gunther of Wilmer Cutler Pickering Hale +& DorrFor ParkerVision: Ronald Daignault, Scott Samay, Jason +Charkow, Chandran Iyer and Oded Burger of Daignault IyerRead more:Qualcomm wins appeal in $173 million ParkerVision case +(Reporting by Blake Brittain in Washington) \ No newline at end of file diff --git a/news/AAPL/2023.02.07/Taiwan Jan exports down for 5th month, China shipments slump.txt b/news/AAPL/2023.02.07/Taiwan Jan exports down for 5th month, China shipments slump.txt new file mode 100644 index 0000000000000000000000000000000000000000..f2c592bdbe42cda6f615b006a4b1f8764511a5a7 --- /dev/null +++ b/news/AAPL/2023.02.07/Taiwan Jan exports down for 5th month, China shipments slump.txt @@ -0,0 +1 @@ +Exports dropped 21.2% by value last month from a year earlier to $31.51 billion, the Ministry of Finance said on Tuesday.That followed a 12.1% drop in December, and was slightly worse than Reuters poll forecast for a 20% contraction.The ministry said seasonally weaker global demand after the year-end festive period and fewer working days, as the Lunar New Year fell in January this year, dragged on exports.Taiwan's total shipments of electronics components in January fell 20.1% to $12.72 billion, the worst decline in 11 years, with semiconductor exports down 18.3% from a year earlier.Firms such as TSMC, the world's largest contract chipmaker, are major suppliers to Apple Inc and other global tech giants, as well as providers of chips for auto companies and lower-end consumer goods.United Microelectronics Corp, a smaller competitor of TSMC, reported on Monday that January sales dropped 4.31% year-on-year.At $10.44 billion in January, Taiwan's exports to China, the island's largest trading partner, plummeted 33.5% from a year earlier, after suffering a 16.4% drop in December, even as Beijing dismantled its zero-COVID regime.Taiwan's finance ministry said continued tightening of monetary policy in major economies will weigh on overall demand, coupled with other risks such as the war in Ukraine and China-U.S. trade tensions."It will not be easy to recover significantly in the short term," it said, predicting that February exports could contract 7% to 11% from a year earlier, and drop around 10% in the first quarter.January's exports to the United States were down 14.5%, compared with a 2.6% contraction recorded the previous month.Taiwan's January imports, often seen as a leading indicator of re-exports of finished products, fell 16.6% to $29.17 billion. That compared with economists' expectations of a 18.2% fall and after an 11.4% decline in December. (Reporting by Liang-sa Loh and Faith Hung; Writing by Ben Blanchard; Editing by Jacqueline Wong)By Liang-sa Loh and Faith Hung \ No newline at end of file diff --git a/news/AAPL/2023.02.08/Belgium, EU competition regulators spar again on $750 mln tax breaks.txt b/news/AAPL/2023.02.08/Belgium, EU competition regulators spar again on $750 mln tax breaks.txt new file mode 100644 index 0000000000000000000000000000000000000000..83a85da3f723c087977f53b0ba88ba6507711af1 --- /dev/null +++ b/news/AAPL/2023.02.08/Belgium, EU competition regulators spar again on $750 mln tax breaks.txt @@ -0,0 +1,32 @@ +LUXEMBOURG, Feb 8 (Reuters) - Belgium and EU competition +regulators on Wednesday faced off again in Europe's +second-highest court on whether Belgium's 700-million euro ($750 +million) tax scheme for Magnetrol, BP and 33 other +multinationals was illegal state aid.The European Commission in 2016 ordered Belgium to recover +the money from the companies that benefited from the scheme, one +of several high-profile cases in a crackdown on sweetheart tax +deals between EU countries and multinationals.Belgium won the first round of its fight in a lower +tribunal, which annulled the Commission's ruling in 2019. But +Europe's top court backed the EU regulator and referred the case +back to the General Court.Ireland had also won the first stage of its court fight +against an order to recover some 13 billion euros from Apple +in 2016.EU nations caught in the tax crackdown received a boost +last year when the top EU court backed Fiat Chrysler in its +fight against the regulator's order to pay 30 million euros in +back taxes to Luxembourg.Belgium on Wednesday brandished the Fiat ruling in its +arguments to the General Court."The Commission wrongly identified the reference framework +in breach of the method clearly set out in the Fiat judgment, +namely the determination of the reference framework must follow +from the examination of the content and specific effects of +rules under the national laws of that state," Belgium's lawyer +Marianne Clayton said.She said the Commission also erred as it did not examine +separately the issues of advantage and selectivity, and if this +was granted to the companies.Ireland's lawyer Paul Gallagher said the Commission's +approach was technically flawed and breached the EU treaty and +national sovereignty.Commission lawyer Paul John Loewenthal said it was clear +that the scheme offered tax breaks to multinationals, with +Belgium widely advertising the measure."Multinationals are given tax breaks if they bring jobs and +investment," he told the court, citing the Belgian finance +ministry's advertisement.The court will hear arguments from some of the companies on +Thursday and next week. The case is T-131/16 RENV.($1 = 0.9308 euros) +(Reporting by Foo Yun Chee; Editing by Arun Koyyur) \ No newline at end of file diff --git a/news/AAPL/2023.02.08/Foxconn in talks to invest in India's Karnataka state.txt b/news/AAPL/2023.02.08/Foxconn in talks to invest in India's Karnataka state.txt new file mode 100644 index 0000000000000000000000000000000000000000..aa44cf6dbccd53a29b09699ebea44e5aa01dc445 --- /dev/null +++ b/news/AAPL/2023.02.08/Foxconn in talks to invest in India's Karnataka state.txt @@ -0,0 +1 @@ +"We are in serious discussion of investment plans with Hon Hai Technology Group (Foxconn) at their Taiwan HQ & look forward to a fruitful collaboration," Bommai said in a tweet. "We remain committed to welcome the best companies to the state & reap rewards for our people."The state's investment promotion arm also tweeted that representatives held a meeting at the company's Taiwan headquarters to discuss the investment, without providing further details.Taiwan-based Foxconn already has operations in Andhra Pradesh and Tamil Nadu, where it manufactures products for companies such as Apple Inc and Amazon.com Inc. (Reporting by Maria Ponnezhath in Bengaluru; Editing by Shailesh Kuber and Anil D'Silva) \ No newline at end of file diff --git a/news/AAPL/2023.02.08/Microsoft calls for 'coalition' to improve Congo's informal cobalt mines.txt b/news/AAPL/2023.02.08/Microsoft calls for 'coalition' to improve Congo's informal cobalt mines.txt new file mode 100644 index 0000000000000000000000000000000000000000..fd0760c45f03b94f39c0a9b1169b2de2f7d48afb --- /dev/null +++ b/news/AAPL/2023.02.08/Microsoft calls for 'coalition' to improve Congo's informal cobalt mines.txt @@ -0,0 +1 @@ +Congo accounts for three-quarters of the world's mined cobalt supply. Industrial mines produce most of Congo's cobalt, but "artisanal" miners, who dig by hand and often die when tunnels cave in, account for up to 30% of production, though that fluctuates depending on price.In the first known visit by a Microsoft executive to an artisanal cobalt site in Congo, chief of staff for tech and corporate responsibility Michele Burlington met miners at Mutoshi, where commodities trader Trafigura had helped run a formalisation scheme that ended in 2020.Companies that use cobalt in products from electric cars to smartphones should work to improve conditions at artisanal mines instead of seeking to cut artisanal cobalt out of their supply chains, an independent report on the visit argued on Wednesday."Electric vehicle manufacturers and electronics companies are operating with one eye open and one eye closed," said Dorothee Baumann Pauly, director of the Geneva Center for Business and Human Rights, who wrote the report."In practice it is virtually impossible for them to completely exclude artisanal cobalt, especially when it is sent to smelters and refiners in DRC and China." Microsoft declined to reply to Reuters' questions about the visit or about its strategy on artisanal cobalt. In the report, Microsoft said that it is "committed to responsible and ethical sourcing". "We are continuing to work on this problem. It's an issue that will take a coalition to solve," the $1.9 trillion computer manufacturer and software company said. As consumers become more concerned that the products they buy are tainted by poor working conditions or child labour, global tech firms and carmakers have been using less mined cobalt in their batteries by increasing recycling and switching to lower-cobalt chemistries.Apple, for example, aims to massively reduce its use of all materials sourced directly from mines, and has said that 13% of the cobalt shipped in its products in 2021 came from recycling. The issues around artisanal mining are an existential threat to the cobalt industry, according to Marina Demidova, head of communications at the Cobalt Institute. "If we get this wrong, cobalt probably will cease to be in batteries in 20 years' time."So far, attempts to formalise the industry have fallen flat.Trafigura and Congo mining firm Chemaf's formalisation scheme at Mutoshi, launched in 2018, ended abruptly in March 2020 with the coronavirus pandemic. Now diggers work in deep tunnels with no personal protective equipment, and women miners said they make less money than before, according to the report. Entreprise Generale du Cobalt, a unit of state mining company Gecamines, was granted a monopoly on artisanal cobalt by government decree. EGC signed a supply deal with Trafigura in November 2020 and published a sourcing standard, but has yet to start buying cobalt due to political wrangling."Greater stakeholder engagement, including from global buyers, will help to overcome this impasse," Baumann-Pauly said. (Reporting by Helen Reid and Clara Denina; Editing by Stephen Coates) \ No newline at end of file diff --git a/news/AAPL/2023.02.08/Schibsted, publishers look to EU tech rules to resolve Apple antitrust concerns.txt b/news/AAPL/2023.02.08/Schibsted, publishers look to EU tech rules to resolve Apple antitrust concerns.txt new file mode 100644 index 0000000000000000000000000000000000000000..8e20e171d8c0e9fab2adeb5d07d5bc286cba24cf --- /dev/null +++ b/news/AAPL/2023.02.08/Schibsted, publishers look to EU tech rules to resolve Apple antitrust concerns.txt @@ -0,0 +1,33 @@ +BRUSSELS, Feb 8 (Reuters) - Norwegian media group +Schibsted and the European Publishers Council have +urged EU antitrust regulators to ensure that tech rules coming +into play this year will rein in Apple's powers, +especially over its App Store.The comments from Schibsted, the largest media group in the +Scandinavia region, and the publishers' lobbying group come as +the European Commission's Digital Markets Act (DMA) takes effect +in May, targeting Big Tech.Apple is already in the EU antitrust crosshairs related to +its App Store practices in music streaming, in e-books and +competing apps as well as its mobile payment system Apple Pay.Apple's App Store practices affect Schibsted because of its +market power in Scandinavia where up to 60% of consumers have an +iPhone in Norway and Sweden, said Petra Wikstrom, director of +Public Policy at Schibsted."Apple's App Store policies, such as imposing high fees, +taking control of the entire customer relationship, and +withholding important user information under the guise of +privacy and security, hamper our transition to a +subscription-based business model," she told Reuters in an +interview."Therefore, to put an end to such abusive practices in the +digital space and induce positive behavioural change, it is +crucial that the DMA is effectively implemented and enforced," +Wikstrom said.The EPC, whose members include chairmen and chief executives +of Axel Springer, News UK, Conde Nast, the New York Times and +The Guardian, echoed similar concerns."Yes, the EPC has the same position and concerns which we +have raised directly with the commission too. The DMA is very +clear in its obligations and we expect them to be enforced," EPC +Executive Director Angela Mills Wade told Reuters.The commission did not immediately respond to a request for +comment. Apple, which would be forced to loosen its App Store +rules under the DMA, could not be reached for comment.The company has previously said that 85% of developers on +the App Store do not pay any commission and only apps with more +than $1 million in annual revenue pay 30%.In 2021, to allay Japanese antitrust concerns, it scraped +the ban on providing separate links on App Store apps for reader +apps which provide content such as e-books, video and music. +(Reporting by Foo Yun Chee; Editing by Mark Porter) \ No newline at end of file diff --git a/news/AAPL/2023.02.09/AMD wins nearly a third of processor market, Arm's climb slows, analyst report.txt b/news/AAPL/2023.02.09/AMD wins nearly a third of processor market, Arm's climb slows, analyst report.txt new file mode 100644 index 0000000000000000000000000000000000000000..31608f969e9ba17986e75a05d42a866afe9ac2f5 --- /dev/null +++ b/news/AAPL/2023.02.09/AMD wins nearly a third of processor market, Arm's climb slows, analyst report.txt @@ -0,0 +1 @@ +AMD has grabbed share away from Intel Corp, which still remains the largest player in the market for what are known as x86 processors, which work with popular operating systems like Microsoft Corp's Windows. In the fourth quarter, Intel had 68.7% market share for x86 processors versus AMD's 31.3%, which was up from 28.5% a year earlier, according to Mercury Research.The results came amid what Mercury Research President Dean McCarron said in the report was the worst downturn in the PC chip market since the 1980s and possibly the worst in the industry's history. After snapping up PCs and laptops for working from home during the pandemic, consumers and businesses have slowed their purchases amid rising inflation and economic uncertainty.But the slowdown has played out differently for AMD and Intel. AMD last month beat Wall Street sales expectations while Intel conceded that it has "stumbled" in competing with its longtime rival, with Intel's expected losses forcing broad employee pay cuts.AMD declined to comment on the analyst report. Arm was not immediately available for comment.But the PC sales slump has also affected Apple Inc's Mac computer lineup, which is the leading source of sales for Arm-based PC chips.Mercury said Arm PC chips, led by Apple's in-house chips but also joined by Qualcomm Inc's recent PC chips for Windows machines, now have 13.3% share of the market PC chips, down from 14.6% a quarter earlier but still up from 10.3% share a year ago.Arm, which is owned by Japan's Softbank Group Corp, licenses its technology to companies like Apple and Qualcomm to make into PC chips and has made expansion into new markets like PCs a major part of is sales growth strategy ahead of an expected initial public offering later this year. (Reporting by Stephen Nellis in San Francisco; editing by Diane Craft)By Stephen Nellis \ No newline at end of file diff --git a/news/AAPL/2023.02.09/Futures rise on earnings optimism, Disney climbs on revamp plan.txt b/news/AAPL/2023.02.09/Futures rise on earnings optimism, Disney climbs on revamp plan.txt new file mode 100644 index 0000000000000000000000000000000000000000..2decb09d792ee46bc1aca2324f2671cf441ab433 --- /dev/null +++ b/news/AAPL/2023.02.09/Futures rise on earnings optimism, Disney climbs on revamp plan.txt @@ -0,0 +1 @@ +Walt Disney Co climbed 6.6% in premarket trading after topping earnings estimates and announcing 7,000 job cuts as part of an effort to save $5.5 billion in costs and make its streaming business profitable.Casino stocks Wynn Resorts and MGM Resorts International gained about 5% each after reporting fourth-quarter results, with Wynn indicating a meaningful return of visitation and demand in Macau during the recent Chinese New Year holiday period.PepsiCo Inc rose 1.4% as the soda maker reported better-than-expected results for its fourth quarter.  Tobacco firm Philip Morris International Inc, drugmaker Abbvie Inc, apparel maker Ralph Lauren Corp and cereal maker Kellogg Co are all set to report earnings during the day.Of more than half of the S&P 500 companies that have reported fourth-quarter results so far, 69% have topped analysts' earnings estimates, as per Refinitiv IBES data. In a typical quarter 66% top estimates. U.S. stock indexes have enjoyed an upbeat start to the year, largely driven by hopes that the Federal Reserve is nearing the end of its interest rate-hike cycle and data signaling resilience in the economy.However, equity markets have wavered in the recent days as Fed officials acknowledged the cooling in U.S. inflation but said that more interest rate rises are in the cards amid evidence of a still-strong labor market.Data at 8:30 a.m. ET is expected to show the number of Americans filing for unemployment benefits rose to 190,00 in the week ended Feb. 4, after an increase of 183,00 in the previous week.  Megacap stocks including Meta Platforms, Apple Inc, Microsoft Corp, Google-parent Alphabet climbed in the range of 1% to 2% as U.S. Treasury yields extended declines. [US/]At 5:55 a.m. ET, Dow e-minis were up 254 points, or 0.75%, S&P 500 e-minis were up 37.25 points, or 0.9%, and Nasdaq 100 e-minis were up 162.5 points, or 1.3%.Tesla Inc firmed 3.7% as a U.S. safety board said it found no evidence a Tesla Model S was operating on Autopilot during an April 2021 fatal crash.Salesforce Inc edged 1.6% higher as a source familiar with the matter told Reuters that hedge fund Third Point LLC owns a stake in the company. (Reporting by Sruthi Shankar, Medha Singh and Johann M Cherian in Bengaluru; Editing by Sriraj Kalluvila) \ No newline at end of file diff --git a/news/AAPL/2023.02.09/Rovio posts Q4 profit drop, says mobile game market shrank last year.txt b/news/AAPL/2023.02.09/Rovio posts Q4 profit drop, says mobile game market shrank last year.txt new file mode 100644 index 0000000000000000000000000000000000000000..c7febfcc428c16fa159893859af1ec6375118e32 --- /dev/null +++ b/news/AAPL/2023.02.09/Rovio posts Q4 profit drop, says mobile game market shrank last year.txt @@ -0,0 +1 @@ +"The market normalised after supercharged growth during the onset of COVID-19 in 2020 and 2021, when the global market grew annually by 30.1% and 12.5%, respectively," the company said in its financial statement.Rovio, which is currently the target of a takeover offer from larger U.S.-listed rival Playtika, said game developers' revenue was also dented by privacy changes on Apple's iPhone."Apple's App Tracking Transparency (ATT) framework has heavily impacted game publishers' ability to target high-value players," the gamemaker said.Rovio reported a 55% decline to 5.9 million euros ($6.3 million) in its fourth-quarter adjusted operating profit, while its revenue declined 2.5%.Rovio said its games outperformed the market but that its low profit in 2022 was due to a writedown of its subsidiary that tried to develop Hatch, a 5G gaming platform that never resulted in commercial success.The mobile gaming market showed signs of stabilising towards the end of the year, it said, adding it expects flat revenue and profit development this year."After five consecutive quarters of decline, it was encouraging to see the U.S. market turn to slight growth," CEO Alex Pelletier-Normand said in a statement.On Monday, Rovio said it had initiated a strategic review and entered "preliminary nonbinding discussions" to consider Playtika's offer for its shares. ($1 = 0.9319 euros) (Reporting by Anne Kauranen; editing by Jason Neely) \ No newline at end of file diff --git a/news/AAPL/2023.02.10/Apple to defend mobile payment system at Feb. 14 EU hearing, sources say.txt b/news/AAPL/2023.02.10/Apple to defend mobile payment system at Feb. 14 EU hearing, sources say.txt new file mode 100644 index 0000000000000000000000000000000000000000..1505036e3fbc2a324b072f2914dc63fa53ce333f --- /dev/null +++ b/news/AAPL/2023.02.10/Apple to defend mobile payment system at Feb. 14 EU hearing, sources say.txt @@ -0,0 +1 @@ +The hearing, which senior European Commission and national competition officials, Apple executives and complainants will attend, comes nine months after the EU competition watchdog accused the company of abusing its market power.The EU antitrust watchdog has said Apple's anti-competitive practices dated back to 2015 when Apple Pay was launched.The Commission declined to comment. Apple referred to its statement last year which said that Apple Pay is only one of many options available to European consumers and which has ensured equal access to its tap and go technology Near-Field Communication (NFC).The company could face fines of up to 10% of its global turnover if found guilty of antitrust violations. It is also the target of EU charges of abusing its dominance in the music streaming market in a case triggered by a complaint by Spotify. There is no EU decision yet on that case. (Reporting by Foo Yun Chee; editing by Jonathan Oatis)By Foo Yun Chee \ No newline at end of file diff --git a/news/AAPL/2023.02.10/Futures fall amid rising yields; Lyft sinks on dour profit outlook.txt b/news/AAPL/2023.02.10/Futures fall amid rising yields; Lyft sinks on dour profit outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..c93a4a56e70b26a21c5b947da76825615c2d007b --- /dev/null +++ b/news/AAPL/2023.02.10/Futures fall amid rising yields; Lyft sinks on dour profit outlook.txt @@ -0,0 +1 @@ +Wall Street's main stock indexes were set to clock declines at the end of a week dominated by hawkish commentary from U.S. Federal Reserve officials, as more than half of the companies on the S&P 500 index wrap up quarterly earnings.The Nasdaq Composite eyed its first weekly fall this year, tracking declines of nearly 2%.Yield on the benchmark 10-year Treasury note rose to its highest level in more than a month, last at 3.69%, up 2.9 basis points. U.S. stock indexes fell in the previous session as Treasury yields gained after an auction of 30-year bonds went poorly. [US/]Rate-sensitive growth companies led declines in premarket trading on Friday, with Apple Inc, Amazon.com Inc, Microsoft Corp, Tesla Inc and Alphabet Inc down between 0.2% and 2.8%.Rising Treasury yields put valuations of growth stocks under pressure, which was also a recurring theme for 2022.Lyft Inc plummeted 32.9% after it also lowered prices, raising concerns it was falling behind bigger rival Uber Technologies Inc. Uber shares dropped 3.7%.At 5:59 a.m. ET, Dow e-minis were down 60 points, or 0.18%, S&P 500 e-minis were down 15 points, or 0.37%, and Nasdaq 100 e-minis were down 97.75 points, or 0.79%. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AAPL/2023.02.10/Holocaust victim's heirs to pay Austria after mix-up over returned Klimt.txt b/news/AAPL/2023.02.10/Holocaust victim's heirs to pay Austria after mix-up over returned Klimt.txt new file mode 100644 index 0000000000000000000000000000000000000000..a414db26e04d4c82bf8e989ffce674ee62321ae8 --- /dev/null +++ b/news/AAPL/2023.02.10/Holocaust victim's heirs to pay Austria after mix-up over returned Klimt.txt @@ -0,0 +1 @@ +Nora Stiasny, Viennese niece of art collector Victor Zuckerkandl, was deported by the Nazis with her mother Amalie Zuckerkandl to the Izbica ghetto in Poland for being Jewish. She is believed to have been killed there or in the nearby Belzec extermination camp.Austria returned Klimt's "Apfelbaum II" ("Apple Tree II") to Stiasny's descendants from Vienna's Belvedere museum in 2001, believing it to be the painting she was forced to sell in 1938, the year Nazi Germany annexed Austria.Experts later determined, however, that the painting she sold was in fact most likely Klimt's "Rosen unter Baeumen" ("Roses Under Trees"), and in 2021 France agreed to return that work to Stiasny's heirs from the Musee d'Orsay.By then, however, the family had sold "Apple Tree II", and the current owners were not interested in selling it, Austria's culture ministry said in a statement announcing the settlement with Stiasny's family."Even though it hurts that it is not possible to bring the painting 'Apple Tree II' back to Austria, it is still gratifying that the long and complicated issue of this painting's restitution is coming to an end with the settlement that has now been reached," the statement quoted the junior minister for art and culture, Andrea Mayer, as saying. (Reporting by Francois Murphy; editing by Jonathan Oatis) \ No newline at end of file diff --git a/news/AAPL/2023.02.13/Apple supplier Salcomp sees India revenue of $2-$3 bln, plans rapid hiring.txt b/news/AAPL/2023.02.13/Apple supplier Salcomp sees India revenue of $2-$3 bln, plans rapid hiring.txt new file mode 100644 index 0000000000000000000000000000000000000000..2eb83b81ba109de505868297a72f1359f4f1eb34 --- /dev/null +++ b/news/AAPL/2023.02.13/Apple supplier Salcomp sees India revenue of $2-$3 bln, plans rapid hiring.txt @@ -0,0 +1,33 @@ +CHENNAI, Feb 13 (Reuters) - Finland's Salcomp, a +supplier to Apple, plans to double its workforce in +India to 25,000 over the next three years, targeting annual +revenue in the country of at least $2 billion to $3 billion by +2025, a top company executive said on Monday.The plans come as Apple shifts production away from China +after its strict COVID-related lockdowns and restrictions, and +with rising trade and geopolitical tensions between Beijing and +Washington."The whole supply chain is now kind of looking at an +alternative. And India is poised to be one of the best +alternatives," Sasikumar Gendham, managing director, Salcomp +Manufacturing India, told reporters in Chennai city in southern +India during an industry event."Everyone knows that the whole world has been depending on +this one nation (China) over the last few decades and it's time +to really diversify and decluster," he added.Cupertino, California-based Apple has bet big on India since +it began iPhone assembly in the country in 2017 via Wistron +and later Foxconn, in line with the Indian +government's push for local manufacturing.Gendham told Reuters that Salcomp will have a "significant +role" in Apple's supply chain.Salcomp currently employs about 12,000 at its Chennai plant, +where it makes mostly chargers, but also other smartphone parts.It started the Chennai operation in 2020 having reached an +agreement a year earlier to take over the facility formerly +owned by Finnish telecom equipment maker Nokia.Gendham said he expects the India business to generate at +least $2 billion-$3 billion in revenue by 2025, from less than +40 billion rupees ($484 million) now.Foxconn is also planning to quadruple the +workforce at its iPhone factory in India over two years, Reuters +reported last year.J.P.Morgan analysts estimated last year that a quarter of +all Apple products would be made outside China by 2025, from 5% +currently. Apple wants India to account for up to 25% of its +production from about 5%-7% now, the country's trade minister +said in January.Salcomp also said it is setting up a housing complex with +entertainment and education facilities for about 15,000 people. +(Reporting by Praveen Paramasivam in Chennai; Writing by +Sethuraman N R and Aditya Kalra; Editing by Sherry +Jacob-Phillips, Kirsten Donovan) \ No newline at end of file diff --git a/news/AAPL/2023.02.13/Apple supplier Salcomp to more than double Indian workforce to 25,000.txt b/news/AAPL/2023.02.13/Apple supplier Salcomp to more than double Indian workforce to 25,000.txt new file mode 100644 index 0000000000000000000000000000000000000000..d93b7cc42bfc672eb8530c471819c4d334b7a08c --- /dev/null +++ b/news/AAPL/2023.02.13/Apple supplier Salcomp to more than double Indian workforce to 25,000.txt @@ -0,0 +1 @@ +Salcomp, a major supplier of chargers to Apple for its iPhones, is also building a large housing complex with entertainment and education for about 15,000 people, the executive added. (Reporting by Praveen Paramasivam in Chennai) \ No newline at end of file diff --git a/news/AAPL/2023.02.13/Indian electronics maker Dixon expects 12% sales growth this financial year -executive.txt b/news/AAPL/2023.02.13/Indian electronics maker Dixon expects 12% sales growth this financial year -executive.txt new file mode 100644 index 0000000000000000000000000000000000000000..2e1601503afd9fcfcfff9b4621a03a93d5259fcf --- /dev/null +++ b/news/AAPL/2023.02.13/Indian electronics maker Dixon expects 12% sales growth this financial year -executive.txt @@ -0,0 +1 @@ +Dixon's Managing Director Atul Lall said the company is "seriously considering" investing in Tamil Nadu in the next 12-18 months. It currently has factories in three Indian states but not in Tamil Nadu, a hub for electronics and automotive manufacturing and home to major production facilities of Apple suppliers like Foxconn and Pegatron.Lall was speaking to Reuters on the sidelines of an electronics event in the southern Indian state.His forecast for sales growth of 12% in the financial year ending in March 2023, to about $1.45 billion, would mark a sharp slowdown from 66% growth in the previous financial year. Revenue from contract manufacturing of telecom devices, smart watches and wireless products like ear buds is likely to grow 15-20%, Lall added. Dixon's share price has been under pressure in recent months due to slowing sales growth in previous quarters. (Reporting by Praveen Paramasivam in Chennai; Writing by Munsif Vengattil; Editing by Susan Fenton)By Praveen Paramasivam \ No newline at end of file diff --git a/news/AAPL/2023.02.13/Nasdaq set for higher open as megacaps rise.txt b/news/AAPL/2023.02.13/Nasdaq set for higher open as megacaps rise.txt new file mode 100644 index 0000000000000000000000000000000000000000..e3be271d10bdc5979a86dc65160791342af04af6 --- /dev/null +++ b/news/AAPL/2023.02.13/Nasdaq set for higher open as megacaps rise.txt @@ -0,0 +1,30 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta climbs on report of more layoffs*Fidelity National slumps on payments business spinoff*Novavax rises on report of U.S. government vaccine deal*Futures: Nasdaq up 0.33%, S&P up 0.09%, Dow flatFeb 13 (Reuters) - The Nasdaq index was set to open +higher on Monday as beaten-down megacap growth stocks gained, +while Meta Platforms climbed on reports of fresh layoffs.Apple Inc, Amazon.com Inc, Alphabet Inc +, Tesla Inc and Microsoft Corp added +between 0.1% and 1.1% before the bell."(Investors) have been holding back during the regime of +rate hikes because they believed it would kill the growth of +technology type stocks," said Peter Andersen, founder of +Andersen Capital Management.Andersen added that the Fed is now signaling that its near +the end of its tightening cycle, which could provide an added +boost to such high-growth firms.All U.S. indexes clocked their worst declines last year +since the financial crisis of 2008, led by a 33% slump in the +tech-heavy Nasdaq, on fears that the Federal Reserve +would tip the economy into a recession with its hawkish monetary +policy.While money markets are expecting rates to peak at 5.2% in +July, a resilient labor market has lifted hopes of a +milder-than-expected recession.Meanwhile, Meta rose 2.2% on reports over the +weekend that the Facebook parent is preparing to announce a +fresh round of job cuts.At 8:49 a.m. ET, Dow e-minis were down 14 points, +or 0.04%, S&P 500 e-minis were up 3.5 points, or 0.09%, +and Nasdaq 100 e-minis were up 40.5 points, or 0.33%.Defense firms such as Boeing Co, Raytheon +Technologies Corp, Lockheed Martin Corp and +L3harris Technologies Inc added between 0.2% and 0.8%.Novavax Inc added 1.8% after the U.S. government +agreed to buy 1.5 million more doses of its COVID-19 vaccine.Fidelity National Information Services Inc plunged +14.6% following its decision to spin off its merchant payments +business.Markets now await January inflation on Tuesday and retail +sales data later in the week to reassess their bets on the +central bank's monetary policy path. +(Reporting by Johann M Cherian in Bengaluru; Editing by Maju +Samuel and Sriraj Kalluvila) \ No newline at end of file diff --git a/news/AAPL/2023.02.13/U.S. companies face more pain as expected 'earnings recession' looms.txt b/news/AAPL/2023.02.13/U.S. companies face more pain as expected 'earnings recession' looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..04e67df758fa79054ebaeed8b25cabfe30cdc980 --- /dev/null +++ b/news/AAPL/2023.02.13/U.S. companies face more pain as expected 'earnings recession' looms.txt @@ -0,0 +1 @@ +    Expectations for U.S. earnings to decline in the first and second quarter come amid weaker-than-expected fourth-quarter results for 2022, which Credit Suisse estimates will be the worst earnings season outside of a recession in 24 years.With fourth-quarter 2022 earnings estimated to have fallen from a year ago, a subsequent decline in the first quarter of 2023 would put the S&P 500 into a so-called earnings recession, a back-to-back decline in earnings that hasn't occurred since COVID-19 blasted corporate results in 2020.  Fourth-quarter results are in already from 344 of the S&P 500 companies, and the quarter's earnings are estimated at this point to have fallen 2.8% from the year-ago period, according to IBES data from Refinitiv. Most strategists expect little improvement for the season, and analysts now forecast S&P 500 earnings falling 3.7% year-over-year in the first quarter of 2023 and 3.1% for the second quarter."What's clear is the speed with which the 2023 numbers are falling is just worse than (usual)," said Jonathan Golub, chief U.S. equity strategist & head of quantitative research at Credit Suisse Securities in New York.The darkening earnings picture bolsters the case for investors who believe the stock market's early-year rally is unlikely to last, adding to worries over how high the Federal Reserve will need to take interest rates in its fight to keep inflation on an easing trajectory. The S&P 500 notched its biggest percentage weekly decline since mid-December last week, though the index is up about 7% for the year to date. "The reality for equities is that monetary policy remains in restrictive territory in the context of an earnings recession that has now begun in earnest," wrote analysts at Morgan Stanley, including Michael Wilson, the bank's U.S. equity strategist, in a Monday report.Recent results and guidance from some of the most heavily weighted names in the tech-related space like Alphabet, Amazon.com and Apple have been among the most memorable disappointments this earnings season.Golub and other strategists say a tight labor market that is pressuring margins for companies as a key reason for the decline in earnings, and expect these costs to remain stickier than other pressures.The recent blowout U.S. jobs report for January, which showed job growth accelerating and the lowest unemployment rate in 53 and a half years, has bolstered that view, while also stirring worries that strong job growth could lead to more rate increases from the Federal Reserve. The central bank last year embarked on its most aggressive policy tightening since the 1980s in response to soaring inflation. "If you look at revenues, they're coming in fine," Golub said. "So you say, well, then what's the problem? Margins are collapsing from really high levels." (Reporting by Caroline Valetkevitch; Editing by Ira Iosebashvili and Deepa Babington)By Caroline Valetkevitch \ No newline at end of file diff --git a/news/AAPL/2023.02.13/US STOCKS-Wall St climbs higher on lift from battered growth stocks.txt b/news/AAPL/2023.02.13/US STOCKS-Wall St climbs higher on lift from battered growth stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..ad4317d03491ef3336fb1fb53acbe6416b416b3d --- /dev/null +++ b/news/AAPL/2023.02.13/US STOCKS-Wall St climbs higher on lift from battered growth stocks.txt @@ -0,0 +1,45 @@ +(Corrects time to p.m. from a.m. in paragraph 11)*Meta climbs on report of more layoffs*Fidelity National slumps on payments business spinoff*Indexes up: Dow 0.91%, S&P 1.00%, Nasdaq 1.46%Feb 13 (Reuters) - U.S. main stock indexes rose on +Monday as investors piled into beaten-down megacap growth stocks +with a decline in Treasury yields boosting sentiment, while Meta +Platforms gained on reports the Facebook parent was planning +fresh layoffs.Apple Inc, Amazon.com Inc, Alphabet Inc +and Microsoft Corp added between 0.1% and +3.6%, pushing the Russell 1000 growth sector up by 1.4%Driving gains in the megacap names were declining yields on +the U.S. 10-year Treasury note, with Microsoft also +boosted by a price target raise by Stifel, which said the +tech-giant is clearly looking to upend Alphabet's Google Search +dominance through its integration with ChatGPT.A fall in Treasury note yields indicate traders expect a +greater return from investments in risky assets."Tech type stocks are more sensitive to higher bond yields +and higher rates because their earnings are discounted into the +future," said Brian Klimke, investment director at Cetera +Investment Management LLC."In general we expect more volatility as we get more data +this week and investors reconcile with what the Fed is +thinking."Markets now await January inflation data on Tuesday and +retail sales numbers later in the week to reassess their bets on +the central bank's monetary policy path.All U.S. indexes clocked their worst decline last year since +the financial crisis of 2008, led by a 33% slump in the +tech-heavy Nasdaq, on fears the Federal Reserve would +tip the economy into a recession with its hawkish monetary +policy.While money markets are expecting rates to peak to 5.2% by +July, a resilient labor market has lifted hopes of a +milder-than-expected recession.Meanwhile, Meta rose 2.9% on reports over the +weekend that the company was preparing to announce a fresh round +of job cuts, pushing the consumer services sector 0.9% +higher.At 12:38 p.m. ET, the Dow Jones Industrial Average +was up 307.19 points, or 0.91%, at 34,176.46, the S&P 500 +was up 41.07 points, or 1.00%, at 4,131.53, and the Nasdaq +Composite was up 170.62 points, or 1.46%, at 11,888.74.Ten of the 11 major S&P 500 sectors climbed higher, with the +energy sector's 0.3% fall making it the sole decliner as +crude oil prices slipped on caution ahead of domestic inflation +data.Fidelity National Information Services Inc plunged +13.6% following its decision to spin off its merchant payments +business.TreeHouse Foods Inc dropped 2.7% on a disappointing +annual sales forecast.As the earnings season draws to a close, 69% of the S&P 500 +firms that have reported results thus far have beat profit +expectations, as per Refinitiv on Friday. However, analysts +expect fourth-quarter earnings to fall nearly 3% from a year +earlier.Advancing issues outnumbered decliners by a 2.96-to-1 ratio +on the NYSE and by a 1.77-to-1 ratio on the Nasdaq.The S&P index recorded four new 52-week highs and no new +lows, while the Nasdaq recorded 50 new highs and 49 new lows. +(Reporting by Johann M Cherian in Bengaluru; Editing by Maju +Samuel, Sriraj Kalluvila and Shinjini Ganguli) \ No newline at end of file diff --git a/news/AAPL/2023.02.13/Wall St climbs higher on lift from battered growth stocks.txt b/news/AAPL/2023.02.13/Wall St climbs higher on lift from battered growth stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..96b7cd74a7bcadd116ada5589ef9cb00b86d9bd8 --- /dev/null +++ b/news/AAPL/2023.02.13/Wall St climbs higher on lift from battered growth stocks.txt @@ -0,0 +1,42 @@ +(In seventh paragraph, corrects sector name to "communication +services", not "consumer services")*Meta climbs on report of more layoffs*Fidelity National slumps on payments business spinoff*Indexes up: Dow 0.58%, S&P 0.52%, Nasdaq 0.65%Feb 13 (Reuters) - U.S. main stock indexes rose on +Monday as investors piled into beaten-down megacap growth stocks +with a decline in Treasury yields boosting sentiment, while Meta +Platforms gained on reports the Facebook parent was planning +fresh layoffs.Apple Inc, Amazon.com Inc, Alphabet Inc +, and Microsoft Corp added between 0.7% and +3.4%, pushing up the Russell 1000 Growth sector by 0.7%."(Investors) have been holding back during the regime of +rate hikes because they believed it would kill the growth of +technology type stocks," said Peter Andersen, founder of +Andersen Capital Management.Andersen added that the Fed is now signaling that its near +the end of its tightening cycle, which could provide an added +boost to such high-growth firms.All U.S. indexes clocked their worst declines last year +since the financial crisis of 2008, led by a 33% slump in the +tech-heavy Nasdaq, on fears that the Federal Reserve +would tip the economy into a recession with its hawkish monetary +policy.While money markets are expecting rates to peak to 5.2% in +July, a resilient labor market has lifted hopes of a +milder-than-expected recession.Meanwhile, Meta rose 1.8% on reports over the +weekend that the Facebook parent is preparing to announce a +fresh round of job cuts, pushing the communication services +sector 0.3% higher.Microsoft added 3.4% and was the biggest boost to the +blue-chip Dow after brokerage Stifel said the tech-giant +is clearly looking to up-end Alphabet's Google Search dominance +through its integration with ChatGPT.Ten of the 11 major S&P 500 sector were in the black, with +the energy sector's 1.1% fall making it the sole sector +lower as crude oil prices slipped on caution ahead of domestic +inflation data.Markets now await January inflation on Tuesday and retail +sales data later in the week to reassess their bets on the +central bank's monetary policy path.At 10:12 a.m. ET, the Dow Jones Industrial Average +was up 196.57 points, or 0.58%, at 34,065.84, the S&P 500 +was up 21.17 points, or 0.52%, at 4,111.63, and the Nasdaq +Composite was up 75.59 points, or 0.65%, at 11,793.71.Further buoying gains in megacap names was declining yields +on the U.S. 10-year Treasury note after hitting a +fresh six-week high earlier in the day.A fall in Treasury note yields indicate traders expect +greater return from investments in risky assets.Fidelity National Information Services Inc plunged +15.4% following its decision to spin off its merchant payments +business.Advancing issues outnumbered decliners by a 2.26-to-1 ratio +on the NYSE and by a 1.31-to-1 ratio on the Nasdaq.The S&P index recorded three new 52-week highs and no new +low, while the Nasdaq recorded 39 new highs and 41 new lows. +(Reporting by Johann M Cherian in Bengaluru; Editing by Maju +Samuel and Sriraj Kalluvila) \ No newline at end of file diff --git a/news/AAPL/2023.02.13/Wall St ends higher on lift from growth stocks.txt b/news/AAPL/2023.02.13/Wall St ends higher on lift from growth stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..1743c76d7699abefcb3cddbde69260f22e5e8694 --- /dev/null +++ b/news/AAPL/2023.02.13/Wall St ends higher on lift from growth stocks.txt @@ -0,0 +1 @@ +The Dow and S&P 500 each added more than a percent, while the tech-heavy Nasdaq rose about one and a half percent.Ryan Belanger, founder and managing principal of Claro Advisors, said declining yields on the 10-year Treasury note were driving the gains in tech."I think tech stocks are now super expensive again and I think that's a function of where the bond market is signaling interest rates will be later this year. So the bond market is on one end saying; 'You're not going to be raising as much as you think. In fact, you're going to be cutting.' And [Federal Reserve] Chair Powell is on the other end staring and saying; 'No, I'm not.' And we're going to figure out who is going to blink first. But right now, the tech stocks are aligned with the bond market and lower rates later on this year. That's a good thing for tech stocks and that's what's driving the gains this year for the Nasdaq."Megacaps Apple and Amazon.com kicked off the week with near 2% gains, helping to lift the Russell 1000 growth sector.So too did shares of Microsoft, which rose 3.12% after Stifel lifted its price target on the stock, saying the tech-giant is clearly looking to upend Google Search dominance through its integration with ChatGPT. Shares of Google-parent Alphabet ended essentially flat.Shares of Meta Platforms rose 3% following reports the Facebook parent was planning fresh layoffs.And shares of Fidelity National Information Services fell 12.5% following its decision to spin off its merchant payments business. Investors now await the January CPI report on Tuesday to reassess their bets on the Fed's monetary policy path and the direction of the stock market. \ No newline at end of file diff --git a/news/AAPL/2023.02.13/Wall Street ends higher as investors eye inflation data.txt b/news/AAPL/2023.02.13/Wall Street ends higher as investors eye inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..2e942b64507a1b7daed04cfeaebb1c700c7b3216 --- /dev/null +++ b/news/AAPL/2023.02.13/Wall Street ends higher as investors eye inflation data.txt @@ -0,0 +1,35 @@ +(Updates with end of trading session)*Meta climbs after report of more layoffs*Fidelity National slumps on payments business spinoff*Tech-related heavyweights drive S&P 500 gainsFeb 13 (Reuters) - Wall Street closed higher on Monday +as investors awaited inflation data likely to hint at the path +of the Federal Reserve's future interest rate hikes, while Meta +Platforms gained after a report that the Facebook parent was +planning fresh layoffs.Meta jumped after the Financial Times reported on +Sunday that the company was preparing to announce a new round of +job cuts, adding to layoffs last November.Microsoft, Nvidia, Apple and +Amazon also gained. Along with Meta, those tech-related +heavyweights contributed more than any other stocks to the S&P +500's gains for the session.Helping lift Microsoft, Stifel raised its price target on +the software company and said it is clearly looking to upend +Alphabet's Google search dominance through its integration with +ChatGPT.Investors are laser-focused on January inflation data due +on Tuesday to reassess their bets on the central bank's monetary +policy path.Wall Street's main indexes lost ground last week after +Federal Reserve Chair Jerome Powell warned that interest rates +may need to move higher than expected in the central bank's +battle against inflation."Today is just a natural reaction in the opposite direction +after we've seen very heavy selling pressure," said Keith +Buchanan, portfolio manager at GLOBALT Investments in Atlanta.According to preliminary data, the S&P 500 +gained 46.50 points, or 1.15%, to end at 4,137.48 points, +while the Nasdaq Composite gained 174.12 points, or +1.49%, to 11,892.24. The Dow Jones Industrial Average +rose 374.45 points, or 1.11%, to 34,243.72.So far in this year, the S&P 500 has gained about 8%, +and the index remains down about 14% from its record high close +in January 2022.Fidelity National Information Services Inc plunged +following the banking and payments processing conglomerate's +decision to spin off its merchant payments business.Coca-Cola rose ahead of its quarterly report due out +early on Tuesday.As U.S. quarterly earnings reports wind down, 69% of the S&P +500 firms that have reported results so far have exceeded profit +expectations, according to Refinitiv data. Analysts expect +December-quarter earnings to have fallen nearly 3% from a year +earlier. +(Reporting by Johann M Cherian in Bengaluru; Editing by Maju +Samuel, Sriraj Kalluvila, Shinjini Ganguli and Deepa Babington) \ No newline at end of file diff --git a/news/AAPL/2023.02.13/Wall Street ends sharply higher as investors eye inflation data.txt b/news/AAPL/2023.02.13/Wall Street ends sharply higher as investors eye inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..3d3ed4d6056e1772410e323343748fd6a40ee3bd --- /dev/null +++ b/news/AAPL/2023.02.13/Wall Street ends sharply higher as investors eye inflation data.txt @@ -0,0 +1,42 @@ +(Updates following end of session with price moves)*Meta climbs after report of more layoffs*Fidelity National slumps on payments business spinoff*Tech-related heavyweights drive S&P 500 gains*Indexes rally: S&P 500 +1.15%, Nasdaq +1.48%, Dow +1.11%Feb 13 (Reuters) - Wall Street closed sharply higher on +Monday as investors awaited inflation data likely to hint at the +path of the Federal Reserve's future interest rate hikes, while +Meta Platforms gained after a report that the Facebook parent +was planning fresh layoffs.Meta jumped about 3% after the Financial Times +reported on Sunday that the company was preparing to announce a +new round of job cuts, adding to layoffs last November.Microsoft rose more than 3%, Nvidia +gained 2.5%, and Apple and Amazon each rose +over 1%. Along with Meta, those tech-related heavyweights +contributed more than any other stocks to the S&P 500's gains +during a trading session that saw light volume.Helping lift Microsoft, Stifel raised its price target on +the software company and said it is clearly looking to upend +Alphabet's Google search dominance through its integration with +ChatGPT.Investors are laser-focused on January inflation data due +on Tuesday to reassess their bets on the central bank's monetary +policy path.Wall Street's main indexes lost ground last week after +Federal Reserve Chair Jerome Powell warned that interest rates +may need to move higher than expected in the central bank's +battle against inflation."Today is just a natural reaction in the opposite direction +after we've seen very heavy selling pressure," said Keith +Buchanan, portfolio manager at GLOBALT Investments in Atlanta.Ten of the 11 S&P 500 sector indexes rose, led by +information technology, up 1.77%, followed by a 1.46% +gain in consumer discretionary. The energy index +dipped 0.6%.The S&P 500 climbed 1.15% to end the session at 4,137.32 +points.The Nasdaq gained 1.48% to 11,891.79 points, while the +Dow Jones Industrial Average rose 1.11% to 34,246.13 points.However, volume on U.S. exchanges was relatively light, +with 9.5 billion shares traded, compared to an average of 11.9 +billion shares over the previous 20 sessions.So far in this year, the S&P 500 has gained about 8%, and +the index remains down about 14% from its record high close in +January 2022.Fidelity National Information Services Inc plunged +12.5% following the banking and payments processing +conglomerate's decision to spin off its merchant payments +business.Coca-Cola rose 1.6% ahead of its quarterly report due +out early on Tuesday.As U.S. quarterly earnings reports wind down, 69% of the S&P +500 firms that have reported results so far have exceeded profit +expectations, according to Refinitiv data. Analysts expect +December-quarter earnings to have fallen nearly 3% from a year +earlier.Across the U.S. stock market, advancing stocks +outnumbered falling ones by a 2.5-to-one ratio.The S&P 500 posted four new highs and no new lows; the +Nasdaq recorded 80 new highs and 59 new lows. +(Reporting by Johann M Cherian in Bengaluru; Editing by Maju +Samuel, Sriraj Kalluvila, Shinjini Ganguli and Deepa Babington) \ No newline at end of file diff --git a/news/AAPL/2023.02.13/Wall Street rallies as investors eye inflation data.txt b/news/AAPL/2023.02.13/Wall Street rallies as investors eye inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..7bc70a1974e96bb59d0ed2ee13d9af0ca1c5ebfe --- /dev/null +++ b/news/AAPL/2023.02.13/Wall Street rallies as investors eye inflation data.txt @@ -0,0 +1,36 @@ +(Updates at mid-day with stock moves, investor comment)*Meta climbs after report of more layoffs*Fidelity National slumps on payments business spinoff*Indexes: S&P 500 +1.05%, Nasdaq +1.48%, Dow +0.99%Feb 13 (Reuters) -Wall Street rallied on Monday as investors awaited inflation +data likely to hint at the path of the Federal Reserve's future +interest rate hikes, while Meta Platforms gained after a report +said the Facebook parent was planning fresh layoffs.Microsoft and Nvidia climbed more +than 3%, while Apple and Amazon were each up +more than 1%. Those four tech-related heavyweights contributed +more than any other stocks to the S&P 500's gains for the +session.Helping lift Microsoft, Stifel raised its price target +on the software company and said it is clearly looking to upend +Alphabet's Google search dominance through its integration with +ChatGPT.Investors are laser-focused on January inflation data +due on Tuesday to reassess their bets on the central bank's +monetary policy path.Wall Street's main indexes lost ground last week after +Federal Reserve Chair Jerome Powellwarnedthat interest rates may need to move higher than expected +in the central bank's battle against inflation."Today is just a natural reaction in the opposite +direction after we've seen very heavy selling pressure," said +Keith Buchanan, said Keith Buchanan, portfolio manager at +GLOBALT Investments in Atlanta.Meta rose more than 3% after the Financial Times +reported on Sunday that the company was preparing to announce a +new round of job cuts, adding to layoffs last November.Of the 11 S&P 500 sector indexes, 10 rose, led by +information technology, up 1.86%, followed by a 1.43% +gain in consumer discretionary. The energy index +dipped 0.3%.In afternoon trading, the S&P 500 was up 1.05% at +4,133.27 points.The Nasdaq gained 1.48% to 11,891.06 points, while the +Dow Jones Industrial Average was up 0.99% at 34,205.73 points.Fidelity National Information Services Inc plunged +almost 14% following the banking and payments processing +conglomerate's decision to spin off its merchant payments +business.As U.S. quarterly earnings reports wind down, 69% of the S&P +500 firms that have reported results so far have exceeded profit +expectations, according to Refinitiv data on Friday. Analysts +expect fourth-quarter earnings to fall nearly 3% from a year +earlier.Advancing issues outnumbered falling ones within the S&P +500 by a 7.5-to-one ratio.The S&P 500 posted four new highs and no new lows; the +Nasdaq recorded 60 new highs and 50 new lows. +(Reporting by Johann M Cherian in Bengaluru; Editing by Maju +Samuel, Sriraj Kalluvila, Shinjini Ganguli and Deepa Babington) \ No newline at end of file diff --git a/news/AAPL/2023.02.14/Apple faces obstacles in move to boost India manufacturing - FT.txt b/news/AAPL/2023.02.14/Apple faces obstacles in move to boost India manufacturing - FT.txt new file mode 100644 index 0000000000000000000000000000000000000000..99fa737ef83c021ccfa52fd819f5b415faafa0f6 --- /dev/null +++ b/news/AAPL/2023.02.14/Apple faces obstacles in move to boost India manufacturing - FT.txt @@ -0,0 +1 @@ +The Cupertino, California-based company has been shifting production away from China after the country's strict COVID-related restrictions dented supply chains across industries and as trade and geopolitical tensions between Beijing and Washington escalated.At a casings factory in southern India run by conglomerate Tata Group, only about half of the components from the production line are in good enough shape to be sent to Apple's supplier Foxconn, FT reported, citing a person familiar with the matter. This 50% 'yield' does not meet Apple's goal for zero defects, FT reported, adding that the company's process of expanding in India has been slow in part due to challenges in logistics, tariffs and infrastructure.Apple and Tata Group did not immediately respond to a request for comment. Apple has bet big on India since it began iPhone assembly in the country in 2017 through Wistron Corp and later Foxconn, in line with the Indian government's push for local manufacturing.Last month, India's trade minister said that Apple wants India to account for up to 25% of its production from about 5 - 7% currently. (Reporting by Sneha Bhowmik in Bengaluru; Editing by Nivedita Bhattacharjee) \ No newline at end of file diff --git a/news/AAPL/2023.02.14/Berkshire reduces stake in Activision Blizzard, BNY Mellon.txt b/news/AAPL/2023.02.14/Berkshire reduces stake in Activision Blizzard, BNY Mellon.txt new file mode 100644 index 0000000000000000000000000000000000000000..c1fde0225c93b5fa383d54ae34c1a301ed62a4e2 --- /dev/null +++ b/news/AAPL/2023.02.14/Berkshire reduces stake in Activision Blizzard, BNY Mellon.txt @@ -0,0 +1 @@ +The move by Berkshire comes as Microsoft Corp makes efforts to conclude its acquisition of Activision Blizzard, maker of the "Call of Duty" video game. On Feb. 21, Microsoft will defend the deal in front of European Union and national antitrust officials at a closed hearing.Berkshire reduced its stake in Activision Blizzard by 12.35%, and now holds a 6.7% stake, or 52,717,075 shares, according to the filing.Berkshire also trimmed its stake in BNY Mellon by roughly 60% in the last quarter, to 25.1 million shares. At current prices, it represents roughly $2 billion in shares of the bank sold.On Apple, Buffett's company bought another 20.8 million shares, or $3.2 billion, bringing his stake to 5.8% in Apple, which Buffett considers more as a consumer products company, according to the filing. (Reporting by Carolina Mandl in New York; editing by Jonathan Oatis and Leslie Adler)By Carolina Mandl and Sittrarasu S \ No newline at end of file diff --git a/news/AAPL/2023.02.14/Black Female Augmented reality tech Founder selected for Apple Entreprenuer Camp.txt b/news/AAPL/2023.02.14/Black Female Augmented reality tech Founder selected for Apple Entreprenuer Camp.txt new file mode 100644 index 0000000000000000000000000000000000000000..190b191264639f535d4cbca965e064c247e700a6 --- /dev/null +++ b/news/AAPL/2023.02.14/Black Female Augmented reality tech Founder selected for Apple Entreprenuer Camp.txt @@ -0,0 +1 @@ +TAMPA, FLORIDA -- Dr. Tori Brown, Author, Psychologist, Business Consultant, and founder of Fresh Digital Media Group Inc., announced Friday that her team would join cohort 17 of developers as part of Apple Entrepreneur Camp.The Apple program, which first launched with a female founders cohort in 2019, provides a one-on-one technology lab for underrepresented founders and developers with app-driven businesses. Following participation in Entrepreneur Camp, Fresh Digital Media Group Inc plans to release its augmented reality (AR) mobile app on the App Store this year."Education is a life-long process that should always include the family unit, especially regarding business development and entrepreneurship," says Dr. Brown. The mobile app, created by Dr. Brown, is an EdTech solution that awards school-aged children with financial literacy and business development certification. The app is the first- of- its- kind, augmented reality (AR) storybook experience that aims to reach 3 million users in its first six months.For more information on Apple Entrepreneur Camp visit https://developer.apple.com/entrepreneur-camp/Fresh Digital Media Group Inc.'s mission is to build digital spaces where business education, financial literacy, and interactive entertainment can co-exist for children and families, supporting community and wealth development.Learn more about the company mission and vision at https://freshdigitalinc.com/Media ContactCompany Name: Fresh Digital Media Group IncContact Person: Jessica WrightEmail: media@freshdigitalInc.comPhone: 813-600-3734Country: United StatesWebsite: https://freshdigitalinc.com/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AAPL/2023.02.14/Buffett's firm buys Apple, slashes chipmaker and bank stakes.txt b/news/AAPL/2023.02.14/Buffett's firm buys Apple, slashes chipmaker and bank stakes.txt new file mode 100644 index 0000000000000000000000000000000000000000..9721e16f96ee9e3d4e4ed4ab24b245a74bb20953 --- /dev/null +++ b/news/AAPL/2023.02.14/Buffett's firm buys Apple, slashes chipmaker and bank stakes.txt @@ -0,0 +1 @@ +OMAHA, Neb. (AP) — Billionaire Warren Buffett's company added to its already substantial Apple investment at the end of last year while slashing a new investment in computer chip maker Taiwan Semiconductor and two longtime bank holdings.Berkshire Hathaway Inc. revealed several changes to its stock portfolio in documents filed with the Securities and Exchange Commission Tuesday. Many investors follow the company's moves closely because of Buffett's remarkably successful investing record over the decades.Berkshire picked up nearly 21 million more shares in the iPhone maker during the final three months of last year to give it 915.6 million shares at the end of 2022.Buffett has called Apple one of the four giants that drive Berkshire's results even though it is only a stock investment. Berkshire's other main drivers are companies that it owns outright: its insurance unit that includes Geico, its energy company that owns several major utilities, and BNSF railroad.During the quarter, Berkshire slashed its investments in Taiwan Semiconductor, US Bancorp and Bank of New York Mellon.Just three months after revealing a 60 million-share stake in the chipmaker, Berkshire cut its Taiwan Semiconductor investment down to 8.3 million shares.Berkshire also cut its US Bancorp investment drastically from 52.5 million shares to 6.7 million by the end of the year.Berkshire Hathaway cut its investment in Bank of New York Mellon again and sold off more than 37 million shares during the quarter to leave it with just over 25 million shares of the bank.The quarterly filings Berkshire submitted Tuesday don't make clear which investments Buffett is responsible for and which ones were made by the company's two other investment managers, but Buffett generally handles all of Berkshire's biggest investments worth $1 billion or more. Buffett doesn't regularly comment on these stock filings.Berkshire also added to one of its smaller investments that it first revealed three months ago when it picked up more than 1.2 million Louisiana Pacific shares to give it control of nearly 10% of that maker of building products.During the quarter, Buffett continued to trim Berkshire's investment in Activision Blizzard to 52.7 million shares. He has said that he bought that stock as a way to bet that Microsoft's acquisition of the video game maker will ultimately go through.The Omaha, Nebraska-based conglomerate Buffett leads also trimmed its investments in the grocer Kroger and Ally Financial.Buffett's biggest investment over the past year in oil producer Occidental Petroleum remained unchanged during the quarter. Berkshire held 194.4 million Occidental shares and warrants to buy another 83.9 million shares at the end of the year.Berkshire did pick up nearly 2 million more Chevron shares during the quarter to give it control of 8.7% of the oil giant.One of the biggest changes in Berkshire's portfolio isn't reflected in the SEC filings because its investment in Chinese electric car maker BYD is held on the Hong Kong stock exchange. Since August, Berkshire has sold off 95 million of the 225 million BYD shares it bought back in 2008.Besides stocks, Berkshire owns an eclectic mix of dozens of different manufacturing, retail and service businesses.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AAPL/2023.02.14/EU's Breton plans consultation on Big Tech and telecoms network costs.txt b/news/AAPL/2023.02.14/EU's Breton plans consultation on Big Tech and telecoms network costs.txt new file mode 100644 index 0000000000000000000000000000000000000000..a9f331465481916ff23f336c8c8f896b826b0da9 --- /dev/null +++ b/news/AAPL/2023.02.14/EU's Breton plans consultation on Big Tech and telecoms network costs.txt @@ -0,0 +1,26 @@ +STRASBOURG, Feb 14 (Reuters) - EU industry chief Thierry +Breton is poised to launch a consultation on whether Big Tech +should bear some telecoms network costs, he said on Tuesday +ahead of a telecoms conference taking place in Barcelona from +Feb. 27 to March 2.EU telecoms providers including Deutsche Telekom, +Orange, Telefonica and Telecom Italia +have for years sought to have Big Tech foot some +infrastructure cost for 5G and broadband.The telecoms companies say the six largest content providers +- Meta, Amazon.com Inc, Netflix Inc, +Apple Inc, Microsoft Corp and Alphabet Inc's +Google - account for more than half of data internet +traffic.The tech giants say the idea amounts to an internet traffic +tax that could undermine Europe's net neutrality rules to ensure +all users are treated equally.Asked when the consultation would be launched, Breton told +Reuters: "Wait for my speech at Barcelona. Yes, I will announce +it soon. At Barcelona."The consultation is likely to take about 12 weeks before the +European Commission will propose legislation that will need to +be thrashed out by EU countries and EU lawmakers before it can +become law.Breton said he was confident the process could be wrapped up +by the end of the year. "We will have time, yes," he said.Announcing the start of the consultation at Barcelona is a +strong signal to the telecoms sector of Breton's backing, a +telecoms industry source said. It would be Breton's first +appearance at an event traditionally attended by all major +telecoms operators. +(Reporting by Foo Yun Chee +Editing by David Goodman) \ No newline at end of file diff --git a/news/AAPL/2023.02.14/Epic Games alleges Google not complying with Indian antitrust order.txt b/news/AAPL/2023.02.14/Epic Games alleges Google not complying with Indian antitrust order.txt new file mode 100644 index 0000000000000000000000000000000000000000..e9fbb529a9f784a3eb900299a174387dc8b610e1 --- /dev/null +++ b/news/AAPL/2023.02.14/Epic Games alleges Google not complying with Indian antitrust order.txt @@ -0,0 +1 @@ +Epic's claims are the latest legal issues to plague the Alphabet Inc unit in India. Last month, after losing a legal fight with the Competition Commission of India (CCI), Google said it will make changes to its Android business model including stopping its practice of forcing device makers to pre-install a bouquet of Google apps such as YouTube or Chrome.However, Epic claimed in a Feb. 9 filing with an appeals tribunal in New Delhi that Google has not complied with a part of the CCI directive that Google should host third-party app stores on Play Store and allow apps to be downloaded freely without using Play Store, a practice called "sideloading", according to a copy of Epic's submissions reviewed by Reuters.Maker of the popular video game "Fortnite", Epic operates its own app store, Epic Games Store, that offers games and other apps for download. The company claims in the filing it is "exploring launching" the Games Store app on Google Play Store and has been "adversely affected" by Google not complying with the CCI order."We are seeking to join Indian developers in court to support the CCI's order that requires Google to allow competing third-party app stores," Bakari Middleton, Director of Global Public Policy at Epic Games, told Reuters in a statement.Epic is known for campaigns against Apple and Google for charging high app store commissions. It has 9.5 million users in India. Google said in a statement it has submitted its "compliance plan to the CCI and continue to respectfully follow the legal process in India."The CCI did not immediately respond to a request for comment.In October the agency said Google exploited its dominant position in Android in India, where 97% of smartphones run on the operating system. Google denied wrongdoing and sought to stall that directive, warning the ruling would limit the growth of the Android ecosystem. India's Supreme Court ordered Google to follow the CCI directives but allowed it to continue arguing its case before the New Delhi appeals tribunal where Epic filed its case.Epic is seeking an order to force Google to comply with the CCI's ruling, and the case is likely to be heard in the coming days. (Reporting by Aditya Kalra and Munsif Vengattil in New Delhi; Editing by Christian Schmollinger)By Aditya Kalra and Munsif Vengattil \ No newline at end of file diff --git a/news/AAPL/2023.02.14/Exclusive-EU's Breton to kick off network cost consultation end-Feb.txt b/news/AAPL/2023.02.14/Exclusive-EU's Breton to kick off network cost consultation end-Feb.txt new file mode 100644 index 0000000000000000000000000000000000000000..9eede627a11080b3240a323299542e92b3ac22a0 --- /dev/null +++ b/news/AAPL/2023.02.14/Exclusive-EU's Breton to kick off network cost consultation end-Feb.txt @@ -0,0 +1 @@ +Asked when the consultation would be launched, Breton told Reuters: "Wait for my speech at Barcelona. Yes, I will announce it soon. At Barcelona." (Reporting by Foo Yun Chee; Editing by David Goodman) \ No newline at end of file diff --git a/news/AAPL/2023.02.14/Futures edge higher ahead of consumer inflation data.txt b/news/AAPL/2023.02.14/Futures edge higher ahead of consumer inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..58291eec54d44cd135bf14e37fa213450d3c4486 --- /dev/null +++ b/news/AAPL/2023.02.14/Futures edge higher ahead of consumer inflation data.txt @@ -0,0 +1 @@ +The Labor Department report, due at 8:30 a.m. ET, is expected to show consumer prices climbed 0.5% in January, on a month-over-month basis following a 0.1% rise in December. However, on a year-on-year basis inflation is expected to have eased to 6.2% last month from a 6.5% rise in December.Markets have had an upbeat start to this year, driven by a renewed interest in growth stocks that were left battered in 2022 as the Fed worked to bring steep prices under control.However, the rally has stalled recently as signs of a still-tight labor market and hawkish commentary from Federal Reserve policymakers gave way to expectations of the U.S. central bank staying hawkish throughout the year.A Reuters poll showed that a majority of economists see two more rate hikes in March and May with no cuts by year-end, bringing the majority of private-sector forecasters in line with the central bank's own projections and rhetoric.Money market traders have priced in at least two more 25 basis point rate hikes this year and see interest rates peaking at 5.18% by July. [0#FEDWATCH]The yield on the U.S. 10-year Treasury notes slipped from six-week highs hit in the previous session. [US/]Megacap growth stocks such as Tesla Inc, Microsoft Corp, Apple Inc and Amazon.com Inc rose between 0.1% and 1.3% before the opening bell. At 7:22 a.m. ET, Dow e-minis were up 38 points, or 0.11%, S&P 500 e-minis were up 10.5 points, or 0.25%, and Nasdaq 100 e-minis were up 51 points, or 0.41%.Coca-Cola Co rose 0.8% after its strong full-year profit forecast as the soda maker bets on resilient demand despite multiple price hikes.Marriott International Inc added 1.5% as the U.S.-based hotel operator reported a surge in fourth-quarter earnings as it benefited from strong travel demand.Nearly 69% of more than half of the S&P 500 firms that have reported results have beaten profit expectations, as per Refinitiv on Friday. However, analysts expect fourth-quarter earnings to fall 2.8% from a year earlier. (Reporting by Johann M Cherian in Bengaluru; Editing by Maju Samuel) \ No newline at end of file diff --git a/news/AAPL/2023.02.14/Inflation is back (on the calendar).txt b/news/AAPL/2023.02.14/Inflation is back (on the calendar).txt new file mode 100644 index 0000000000000000000000000000000000000000..31ca092010c5ce71172e8729f62417cb379923f0 --- /dev/null +++ b/news/AAPL/2023.02.14/Inflation is back (on the calendar).txt @@ -0,0 +1,49 @@ + +The indexes all gained more than 1%, thanks in particular to cyclical and technology stocks. The wave of caution that had gripped the stock market last week has tended to recede. That's the problem with these periods of uncertainty: we know it's going up and down, but we don't know by how much. As mentioned yesterday, everyone is waiting for 8:30am and the announcement of January's US inflation to decide whether the rebound will continue or whether it will get deflated. To validate the first hypothesis, inflation must continue to decline for the U.S. central bank to adopt a less aggressive attitude on rates. On the other hand, signals of pressure on prices, which are possible between December and January for seasonal reasons, are likely to frighten financiers. On average, the market expects annual inflation to fall from 6.5% in December to 6.2% in January, but prices to rise by 0.5% over a month. ING points out in passing this morning that these two figures are incompatible because an increase of 0.5% between December and January should translate into an annual inflation of 6.3% or 6.4%. So economists, can't we count anymore? +In the rest of the news, apparently no balloons have been fired in the world sky for at least 24 hours. Tensions on this point remain high between the United States and China. Beijing has accused Washington of flying balloons in Chinese airspace. At least ten in January. According to my information, Brussels is preparing a working group on the subject. The white paper that will come out of it will allow aerial observations to be made from 2027 onwards, with a view to preparing a possible response at the beginning of the next decade. In Japan, Kazuo Ueda, who is 71 years old, will be the new governor of the central bank starting in April. I don't know anything about Japanese banking genealogy, but I noticed that Ueda was not on the list of contenders to succeed Haruhiko Kuroda that had been circulating until last week. This academic has a good reputation, even if he is rumored to owe his place to the evasion of Masayoshi Amamiya, the current deputy governor of the Bank of Japan. On a related note, the Wall Street Journal understands that Joe Biden will announce this week the appointment of current Fed Vice Chair Lael Brainard as head of the Fed's National Economic Council. +To continue on a funnier note, well, funnily enough, I noticed yesterday that Elon Musk appeared in all the suggestions of the MarketScreener Twitter account. I was a bit saddened by this, but I moved on. Apparently, I'm not the only one to have noticed this and a journalist from the American media The Verge also got upset, recalling that the American billionaire had complained a few days ago that his tweets weren't seen enough and that he even fired an engineer for this reason (I didn't check). Apparently, Musk's account has been on a downward slope in terms of popularity since April, with engagement dropping quite a bit. Not being a man to imagine that he could annoy his audience, Elon had a technical problem looked for, estimating that 95% of his tweets were not delivered. His teams having not identified any malfunction, he asked them to look for more. From there, it's only a short step to see a cause and effect relationship with the omnipresence of the boss's tweets in the suggestions of all of us. I guess you could call it ordered freedom of speech. It's really quite reassuring if it's true. The story in a bit more detail here. +New delivery of results today with Coca-Cola, Airbnb, Zoetis, Marriott, Ecolab, GlobalFoundries or Akamai in the United States. For its part, the American Palantir exceeded expectations. +Economic highlights of the day: +The US inflation for January will be presented at 8:30am. All the agenda here. Last night, Japan announced that its GDP grew modestly by 0.2% between Q3 and Q4 2022, less than expected (0.5%). + +The dollar drops to 0.9293 EUR. The ounce of gold is trading at 1857 USD. Oil remains firm, with North Sea Brent crude at USD 85.48 per barrel and U.S. light crude WTI at USD 78.97. The yield on 10-year US debt is back down to 3.69%. Bitcoin is sailing around USD 21,800. + +In corporate news: + + +* Boeing - Tata Group-owned Air India will buy 220 planes from Boeing and 250 planes from Airbus for a total of more than $100 billion at list price. + +* Ford plans to cut 3,800 engineering and administrative jobs in Europe over the next three years to improve its cost structure and competitiveness in electric vehicles, the automaker announced Tuesday. The stock is up 1% in pre-market trading. + +* Tesla adjusted its prices for the fourth time in two months, raising the price of the Model Y Performance and lowering the price of the Model 3 Propulsion. + +* Apple is facing difficulties with the transfer of part of its production to India, as the yield in the manufacture of certain components is less than 50%. + +* Liberty Global said Monday it has acquired a 4.92% stake in British telecom operator Vodafone, but added that it was not considering a takeover bid for the group. + +* Paramount Global is again trying to sell Simon & Schuster after a $2.2 billion deal with Penguin Random House failed last November. + +* Walmart will close three of its U.S. technology centers (Austin, Carlsbad and Portland), which will mean the transfer of hundreds of employees if they want to keep their jobs. + +* Palantir Technologies announced Monday that it expects to post its first full year in the black this year after better-than-expected fourth-quarter results. The stock jumped 17.7% in pre-market trading. + +* Avis Budget Group gained 4.2% in after-hours trading after reporting better-than-expected fourth-quarter results linked to strong demand in the corporate and leisure travel businesses. + +* T-Mobile US - Users of the U.S. telecom operator faced a giant nationwide outage Monday. + +Analyst recommendations: + +Advanced Micro Devices: Benchmark Company raised the target to $103 from $93. Maintains buy rating. +Belden: Benchmark Company increased its price target to $108 from $88. +Fidelity National Information Services: Morgan Stanley moved to overweight from equal-weight. PT set to $79. +Gilead Sciences: Mizuho Securities maintains buy rating. Price target downgrades to $101 from $88. + Interpublic Group: Citi raised its expectations to $45 from $39. Maintains buy rating. +Jupiter Fund Management: Morgan Stanley initiated coverage with a recommendation of equal-weight. Price target set to 152 pence. +Lattice Semiconductor: Susquehanna Financial raised the target to $95 from $75. Maintains positive rating. +Mettler-Toledo: UBS maintains neutral rating. PT upgrades to $1,580 from $1,292. +Occidental Petroleum: Goldman Sachs raised the recommendation to buy from neutral. Price target up 25% to $81. +Royal Caribbean: Macquarie maintains outperform rating and set price target to $85 from $65. +Take-Two Interactive Software: DZ Bank cut the recommendation to hold from buy. PT set to $105 +Willis Towers Watson: Stifel upgraded its price target to $255 from $228. Maintains hold rating. + + diff --git a/news/AAPL/2023.02.14/S&P 500 dips as inflation data supports rate worries.txt b/news/AAPL/2023.02.14/S&P 500 dips as inflation data supports rate worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..d9f980a522f10e57db5b49777a494605df5492cc --- /dev/null +++ b/news/AAPL/2023.02.14/S&P 500 dips as inflation data supports rate worries.txt @@ -0,0 +1,48 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Marriott rises on upbeat profit outlook*Palantir surges on forecasting profitable year*Apple, Alphabet weigh on S&P 500*Indexes: S&P 500 -0.20%, Nasdaq +0.07%, Dow -0.44%Feb 14 (Reuters) -The S&P 500 dipped on Tuesday after U.S. consumer +price data for January offered little to change expectations +about the Federal Reserve's path forward on interest rate hikes.Data showed U.S. consumer prices accelerated in January as +Americans continued to be burdened by higher rental housing +costs, suggesting that the Fed Federal Reserve will maintain a +moderate interest rate hiking path."Inflation remains elevated, albeit it appears to be +slowing," said Terry Sandven, chief equity strategist at U.S. +Bank Wealth Management in Minneapolis. "Looking at today's price +action, I think it might be a little bit of profit-taking on the +heels of strong year-to-date performance."Losses of about 1% in Apple Inc, Amazon.com Inc +and Alphabet Inc helped keep the S&P 500 in +negative territory.Of the 11 S&P 500 sector indexes, seven declined, led by +real estate, down 1.12%, followed by a 0.64% loss in +consumer staples.The consumer discretionary index rose 0.5% on a +4.4% gain in Tesla Inc. The electric car maker has +rebounded 65% in 2023 after losing two-thirds of its value last +year.Money market traders are betting on at least two more 25 +basis point rate hikes this year, with interest rates seen +peaking at 5.28% by July.Also adding to the investor angst were hawkish remarks by +Richmond Fed President Thomas Barkin and Dallas Fed President +Lorie Logan. Barkin said the Fed needs to prioritize quashing +inflation over risks to U.S. economic growth.Wall Street had an upbeat start to the year, lifted by +renewed interest in volatile growth stocks battered in 2022 as +the Fed raised rates aggressively to bring steep prices under +control.The rally, however, stalled last week following signs of a +tight labor market and hawkish commentary from Fed policymakers.The S&P 500 is up about 8% so far in 2023, while the +Nasdaq Composite Index has rebounded about 14%.Investors will closely watch January retail sales data on +Wednesday for hints on consumer spending amid worries of an +economic slowdown.In afternoon trading, the S&P 500 was down 0.20% at +4,129.11 points.The Nasdaq gained 0.07% at 11,900.01 points, while the +Dow Jones Industrial Average was down 0.44% at 34,094.88 +points.Shares of Boeing Co rose 1.8% to their highest in +over a year after Air India unveiled a deal to buy 220 of its +passenger planes.Coca-Cola Co slipped 1.4% despite a strong full-year +profit forecast.Marriott International Inc rose 2.8% after the hotel +operator forecast first-quarter earnings above Wall Street +estimates as it benefited from strong travel demand.Palantir Technologies soared more than 15% after +the data analytics firm forecast its first profitable year.Of the more than half of S&P 500 firms that have reported +results, nearly 69% have beaten profit expectations, as per +Refinitiv on Friday. However, analysts expect fourth-quarter +earnings to fall 2.8% from a year earlier.Across the U.S. stock market, declining stocks +outnumbered rising ones by a 1.3-to-one ratio.The S&P 500 posted 10 new highs and no new lows; the +Nasdaq recorded 60 new highs and 65 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru, +and by Noel Randewich in Oakland, California; Additional +reporting by Stephen Culp in New York; Editing by Sriraj +Kalluvila, Maju Samuel and Richard Chang) \ No newline at end of file diff --git a/news/AAPL/2023.02.14/Wall Street ends mixed as inflation data supports rate worries.txt b/news/AAPL/2023.02.14/Wall Street ends mixed as inflation data supports rate worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..b5ac5384ae8ca09b1d2985a8bc33064698b6a9f3 --- /dev/null +++ b/news/AAPL/2023.02.14/Wall Street ends mixed as inflation data supports rate worries.txt @@ -0,0 +1,40 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Marriott rises on upbeat profit outlook*Coca-Cola Co dips after quarterly report*Palantir surges on forecasting profitable yearFeb 14 (Reuters) -Wall Street stocks ended mixed on Tuesday after U.S. +consumer price data for January offered little to change +expectations about the Federal Reserve's path forward on +interest rate hikes.U.S. consumer prices accelerated as Americans continued to +be burdened by higher rental housing costs, suggesting that the +Fed will maintain a moderate rate hiking path."Inflation remains elevated, albeit it appears to be +slowing," said Terry Sandven, chief equity strategist at U.S. +Bank Wealth Management in Minneapolis. "Looking at today's price +action, I think it might be a little bit of profit-taking on the +heels of strong year-to-date performance."Money market traders are betting on at least two more 25 +basis point rate hikes this year, with interest rates seen +peaking at 5.28% by July.Also adding to the investor angst were hawkish remarks by +Richmond Fed President Thomas Barkin and Dallas Fed President +Lorie Logan. Barkin said the Fed needs to prioritize quashing +inflation over risks to U.S. economic growth.Wall Street had an upbeat start to the year, lifted by +renewed interest in volatile growth stocks battered in 2022 as +the Fed raised rates aggressively to bring steep prices under +control.The rally, however, stalled last week following signs of a +tight labor market and hawkish commentary from Fed policymakers.The S&P 500 is up about 8% so far in 2023, while the Nasdaq +Composite Index has rebounded about 14%.Investors will closely watch January retail sales data on +Wednesday for hints on consumer spending amid worries of an +economic slowdown.According to preliminary data, the S&P 500 lost 1.26 +points, or 0.03%, to end at 4,136.03 points, while the Nasdaq +Composite gained 65.49 points, or 0.55%, to 11,959.08. +The Dow Jones Industrial Average fell 164.41 points, or +0.48%, to 34,081.52.Shares of Boeing Co rose to their highest in over a +year after Air India unveiled a deal to buy 220 of its passenger +planes.Coca-Cola Co slipped despite a strong full-year +profit forecast.Marriott International Inc rose after the hotel +operator forecast first-quarter earnings above Wall Street +estimates as it benefited from strong travel demand.Palantir Technologies soared after the data +analytics firm forecast its first profitable year.Of the more than half of S&P 500 firms that have reported +results, nearly 69% have beaten profit expectations, as per +Refinitiv on Friday. However, analysts expect fourth-quarter +earnings to fall 2.8% from a year earlier. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru, +and by Noel Randewich in Oakland, California; Additional +reporting by Stephen Culp in New York; Editing by Sriraj +Kalluvila, Maju Samuel and Richard Chang) \ No newline at end of file diff --git a/news/AAPL/2023.02.14/World Press Review: February 14.txt b/news/AAPL/2023.02.14/World Press Review: February 14.txt new file mode 100644 index 0000000000000000000000000000000000000000..b4418901436c60b67fa173ea726becc5b2dd3d7b --- /dev/null +++ b/news/AAPL/2023.02.14/World Press Review: February 14.txt @@ -0,0 +1,4 @@ + +Tui, Flutter, Rothschild and Co, Chanel, Thyssenkrupp, Alantra Partners, Liberty Global, Vodafone, Ford, Contemporary Amperex Technology Co, Palantir, Amazon, Alphabet, Netflix, Disney, Spotify, Alibaba, Tencent, Walmart, Uber, Oracle, Apple + + diff --git a/news/AAPL/2023.02.15/Berkshire boosts Apple stake, dumps TSMC.txt b/news/AAPL/2023.02.15/Berkshire boosts Apple stake, dumps TSMC.txt new file mode 100644 index 0000000000000000000000000000000000000000..cd8b0bd383486ae68a277183d57deb67d8428821 --- /dev/null +++ b/news/AAPL/2023.02.15/Berkshire boosts Apple stake, dumps TSMC.txt @@ -0,0 +1 @@ +All the while bolstering its holdings in Apple.According to a regulatory filing, Berkshire cut its position in TSMC, the world's largest contract chipmaker, by just over 86% in the fourth quarter.It comes just three months after the conglomerate unveiled it had bought more than $4.1 billion worth of TSMC stock.Such a turnaround is rare for Berkshire but not unprecedented.TSMC last month said revenue in the first quarter is likely to dip 5% as it weathers a global downturn in the chip industry.Berkshire also divested its shares in some banks,and trimmed some positions across its portfolio of U.S. listed companies.Those to face the chop include Chevron and Activision Blizzard - the maker of the "Call of Duty" video game.Microsoft is trying to acquire the video game maker but is facing regulatory scrutiny.Apple was among Berkshire's few additions, which Buffett views more as a consumer products company. Berkshire bought another 20.8 million shares of the firm worth $3.2 billion.Shares in Apple have surged nearly 18% since the start of the year. \ No newline at end of file diff --git a/news/AAPL/2023.02.15/GOP subpoenas tech CEOs as part of probe into censorship.txt b/news/AAPL/2023.02.15/GOP subpoenas tech CEOs as part of probe into censorship.txt new file mode 100644 index 0000000000000000000000000000000000000000..b1bb018249e9fbfd843ab5cb819f1305dcdab840 --- /dev/null +++ b/news/AAPL/2023.02.15/GOP subpoenas tech CEOs as part of probe into censorship.txt @@ -0,0 +1 @@ +WASHINGTON (AP) — Subpoenas were sent to the chief executives of the five largest tech companies on Wednesday as congressional Republicans moved to investigate what they assert is widespread corporate censorship of conservative voicesRep. Jim Jordan, R-Ohio, the chairman of the House Judiciary Committee, issued the subpoenas as the latest in a series of escalations by a party that has long promised to investigate Big Tech's content moderation, especially when it came to COVID-19.The letters were sent to Mark Zuckerberg of Meta; Sundar Pichai of Alphabet; Satya Nadella of Microsoft; Tim Cook of Apple; and Andy Jassy of Amazon.com.And in them, Jordan outlined the committee's objective to "understand how and to what extent the Executive Branch coerced and colluded with companies and their intermediaries to censor speech.”Spokespeople for Microsoft and Meta said Wednesday that they have already begun producing documents. A request for comment from Apple, Alphabet and Amazon was not immediately returned.The committee asked the companies to produce documents and communications by March 23 that show any communication between them and the executive branch of the U.S. government relating to moderation, deletion, suppression or reduced circulation of content.Notably missing from the list of companies subpoenaed is Twitter. The new owner, Tesla founder Elon Musk, has proven to be more sympathetic to conservatives than Twitter's previous administration.Just last week, three former Twitter executives appeared before the House Oversight and Accountability Committee to testify about the company’s decision to initially block a New York Post article in October 2020 about the contents of a laptop belonging to Hunter Biden.The former employees conceded in that hearing that they made a mistake by blocking a story about the president’s son, from the social media platform in the run-up to the 2020 election, but adamantly denied GOP assertions they were pressured by Democrats and law enforcement to suppress the story.In Wednesday's letter, Jordan outlined how Musk’s decision last year to release a slew of company information to independent journalists “have exposed how Big Tech and the federal government have worked hand ways that undermine First Amendment principles.”The documents and data, titled “the Twitter Files,” largely show internal debates among employees over the decision to temporarily censor links to the Hunter Biden story. The tweet threads lacked substantial evidence of a targeted influence campaign from Democrats or the FBI, which has denied any involvement in Twitter’s decision-making.The hearing and subsequent subpoenas this month continue a yearslong trend of GOP leaders calling tech company leaders to testify about alleged political bias. Democrats, meanwhile, have pressed the companies on the spread of hate speech and misinformation on their platforms.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AAPL/2023.02.15/Let the dust settle.txt b/news/AAPL/2023.02.15/Let the dust settle.txt new file mode 100644 index 0000000000000000000000000000000000000000..ed5554c3e3001e49dd3b10eac1f981e20af7a5f8 --- /dev/null +++ b/news/AAPL/2023.02.15/Let the dust settle.txt @@ -0,0 +1,30 @@ + +Nothing is ever certain in finance and yesterday's session was a good illustration of this. Investors were waiting for the January inflation figures in the US to adjust their strategies, with two dominant and probably a bit simplistic scenarios. Well, it's a bit easy to say after the fact, but it comes down to this. Either inflation continues to fall without too many bumps in the road, allowing the bullish party to continue. Or inflation continues to bite a little too hard and the equity markets take the hit. That's the theory. In practice, inflation figures have been a little more worrying than expected, and equity markets have been rising. Well, rather disparate performances, but still a gain of 0.7% for the Nasdaq, the index most sensitive to the path of monetary policy, and therefore to the indications provided by inflation. The Nasdaq fluctuated a lot, but ended up almost at its highs for the session. It should be noted that it was not imitated by the Dow Jones (-0.46%) and that the S&P500 failed to rise (-0.03%). The same confusion in Europe with small increases in Paris, London and Zurich and slight decreases in Frankfurt, Stockholm and Brussels. +Consumer prices in the United States rose as expected between December and January, mainly due to seasonal factors. At this point, the financial community seems to view this as a minor blip on the road to a decline in price increases. In a sense, the statistic has not invalidated the prevailing narrative that the Fed is near the end of its rate hike cycle. But it probably added some weight to the theory that rates will remain at their current high level for longer than the markets currently expect.. However, this does not necessarily upset investors, who fear uncertainty about the path of rates more than rates themselves... especially as they approach the peak. The bond market, which is more subtle than the stock market when it comes to making monetary predictions, became a little tense yesterday on the announcement of US inflation, but without excess. The yield on 10-year U.S. debt rose to 3.74%, which is almost a non-event. +In other news, Joe Biden has named, as rumors suggested, Fed Vice Chair Lael Brainard as his chief economic advisor. She is therefore leaving the central bank. The litany of corporate results continues with since yesterday evening the figures of Carrefour, Vinci, Airbnb, Kering, Nexans, Heineken, Barclays, Ahold Delhaize and many other listed companies. The session will also be marked by a new series of macroeconomic indicators in the United States, which will refine the reading of inflation from the previous day. In particular, we will have to follow the January retail sales at 8:30 am. In China, the central bank left its one-year rate unchanged while injecting liquidity to meet increased demand for financing. Strangely, the Chinese recovery has been off the radar for a few days, even though it was a driving force behind the awakening of the equity markets. +In Asia Pacific this morning, we are more cautious than in the United States. The Nikkei 225 is down 0.37% in Japan, while the Korean KOSPI is down a hefty 1.53%. Even the Australian ASX200 index is down more than 1%. China is also doing poorly, especially the Hang Seng, which is down 1.3% and is now down more than 10% from its January peak. Regularly against the tide, India grabs a few points. +Economic highlights of the day: +In the United States, the Empire Manufacturing index for February and the retail sales for January will be announced at 8:30 am, before the industrial production for January at 9:15 am. At 10:00 am, the NAHB house price index for February and business inventories will be released. All the agenda here. +The dollar is back up to 0.9330 EUR. Gold is trading at 1834 USD per ounce. Oil is losing ground, with North Sea Brent crude at USD 85.05 a barrel and US WTI light crude at USD 78.65. The yield on 10-year US debt is climbing back to 3.74%. Bitcoin is climbing back up to USD 22,400. + +In corporate news: + +* TSMC was down 6% in pre-market trading as Berkshire Hathaway cut its stake in the Taiwanese chipmaker by 86.2%. Warren Buffett's investment firm also sold shares in US Bancorp, Bny Mellon, Chevron, Activision Blizzard and Kroger but increased its stake in Apple. +* Airbnb expects to report higher-than-consensus revenue for the current quarter, thanks to strong demand and tight control of its expenses. The short-term accommodation rental platform was gaining more than 9% in pre-market trading + +Analyst recommendations: + +Akamai Technologies: RBC Capital Markets cut the recommendation to sector perform from outperform. PT set to $85. +Dick's Sporting Goods: Loop Capital Markets initiated coverage with a recommendation of hold. Price target set to $130. +Ecolab: RBC Capital Markets raised the recommendation to outperform from sector perform. PT set to $185, implies a 17% increase from last price. +Entegris: Needham & Co raised the target to $100 from $86. Maintains buy rating. +IPG Photonics: Stifel raised the target to $145 from $110. Maintains buy rating. +Prudential: DBS Bank initiated coverage with a recommendation of buy. PT upgrades 34% to 1,732 pence. +Rogers: B Riley Securities initiated coverage with a recommendation of buy. Price target increases 22% to $180. +Southwest Airlines: Melius Research downgrades to hold from buy. PT set to $39. +TD Synnex: Barclays set price target to $109 with a recommendation of equal-weight. +TE Connectivity: Stifel cut the recommendation to hold from buy. PT set to $130. +Terex: Citi downgrades to neutral from buy. Price target set to $63. + Wesco International: RBC Capital Markets raised the target to $200 from $163. Maintains outperform rating. + + diff --git a/news/AAPL/2023.02.15/Marketmind: Interminable anxiety.txt b/news/AAPL/2023.02.15/Marketmind: Interminable anxiety.txt new file mode 100644 index 0000000000000000000000000000000000000000..e41385056a9d2f7542c8b70d37ebc88929122843 --- /dev/null +++ b/news/AAPL/2023.02.15/Marketmind: Interminable anxiety.txt @@ -0,0 +1 @@ +U.S. inflation is not falling fast enough, the Federal Reserve is stamping its foot and the assumed 'terminal' interest rate in this brutal monetary policy tightening cycle is climbing upwards once again.The net impact of Tuesday's sticky U.S. inflation report for January and the red hot employment readout for the same month has been to catapult market pricing of both peak Fed rates and where they'll be at year-end well above 5% and above where even Fed guidance had been late last year.Deutsche Bank, for one, has raised its U.S. terminal rate forecast by half a percentage point to 5.6% since the CPI release, with some market players already mulling the chance that even 6% now comes on the risk radar. And as one of the leading doves on the Fed's policymaking council - Vice Chair Lael Brainard - is set to depart the central bank later this month, her colleagues seem happy for markets to look ever higher for the rates summit."Clearly there are risks that inflation stays higher for longer than expected, or that we might need to raise rates higher" than current forecasts, said New York Fed President John Williams, adding that a year-end rate between 5.0% and 5.50% was "the right kind of framing".The about-turn in rates markets in just two weeks has been extraordinary - with Fed funds futures pricing moving from a terminal rate as low as 4.8% to 5.26% on Wednesday. Year-end pricing has moved above 5% too. Two-year Treasury yields soared to a 3-month high of 4.64% on Tuesday - where current Fed rates sit - and only gave back a fraction of that on Wednesday.The dollar extended gains against Japan's yen and the pound but was restrained against the euro by speculation the European Central Bank faces a similar rethink on inflation and rates that's also pushing up where its peak tightening might be.U.S. stocks held up remarkably well on Tuesday - helped by hopes recession fears are easing even as rate speculation intensifies. But futures and world stocks in general were feeling the heat today.U.S. January industrial production and retail sales data are now the next gauge of what's happening on the ground in the U.S. economy.Sterling slipped as UK inflation fell faster than expected last month, even though the annual inflation rate remains in double digits.Despite many banks benefiting from the higher interest rate environment, Britain's Barclays has proven an outlier and its shares dropped almost 10% on Wednesday after a dire 2022 earnings update.Barclays reported a 14% fall in full-year pre-tax profit as earnings were pole-axed by surging costs, a collapse in deal fees and multi-million dollar fines relating to an administrative blunder.There was better news on the inflation front in energy markets. Oil dropped for a second day on Wednesday, as an industry report pointed to ample supplies in the United States and anticipation of further rate hikes sparked concerns over weaker fuel demand and the economic outlook.Warren Buffett's Berkshire Hathaway, meantime, slashed its stake in Taiwanese contract chipmaker TSMC as well as in some banks in the fourth quarter, while bolstering its holdings in Apple Inc.Berkshire cut its position in Taiwan Semiconductor Manufacturing Co - roughly three months after it said it had bought more than $4.1 billion worth of the stock.Key developments that may provide direction to U.S. markets later on Wednesday:* U.S. Feb NAHB housing index, Empire manufacturing index, Jan retail sales, industrial production, Dec business inventories, Dec TIC Treasury holdings data * European Central Bank President Christine Lagarde speaks in European Parliament* U.S. Treasury auctions 20-year bonds* U.S. corp earnings: Cisco, Analog Devices, Marathon, AIG, Equinix, Kraft Heinz, Biogen, Albemarle, ROBLOX, Zillow, Roku, Rollins, EQT, Synopsys (By Mike Dolan, editing by Emelia Sithole-Matarise; mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/AAPL/2023.02.15/Norwegian payment app Vipps takes on Apple, wants EU antitrust action.txt b/news/AAPL/2023.02.15/Norwegian payment app Vipps takes on Apple, wants EU antitrust action.txt new file mode 100644 index 0000000000000000000000000000000000000000..4e71295b0fc8156de05fceccf893ff2687972831 --- /dev/null +++ b/news/AAPL/2023.02.15/Norwegian payment app Vipps takes on Apple, wants EU antitrust action.txt @@ -0,0 +1 @@ +Garborg's comments came a day after Apple made a last ditch bid to convince EU antitrust regulators that it does not block rivals' access to its technology used for mobile wallets at a closed hearing. Vipps was a third party at the hearing.Vipps, owned by a consortium of Norwegian banks and which merged with Danish peer MobilePay last year, said the issue is critical because of Apple's popularity in the Nordics and the increasing use of mobile payments, which is powered by near field communication (NFC) technology."This is really important for us. Seventy-eight percent of card transactions in Norway are done through terminals. It is why NFC is so important especially among young people," Garborg told Reuters."Apple is only sharing NFC with banks, which have to pay for installing their cards in Apple Pay. But for us as a wallet, we don't have open access to NFC," he said.Vipps said NFC access would increase the geographical reach of its mobile wallet, make it easier to innovate products and better enable cross-border transactions.Apple had no immediate comment. The company has previously said that Apple Pay is one of many options available to European consumers and which has ensured equal access to its technology.Vipps said it tried several alternatives to NFC but found them cumbersome and not competitive. (Reporting by Foo Yun Chee; Editing by Josie Kao)By Foo Yun Chee \ No newline at end of file diff --git a/news/AAPL/2023.02.15/S&P 500 ends higher after strong retail sales data.txt b/news/AAPL/2023.02.15/S&P 500 ends higher after strong retail sales data.txt new file mode 100644 index 0000000000000000000000000000000000000000..bfd1a0db7ab7969eb67bede739eea8cd2c5fbdf8 --- /dev/null +++ b/news/AAPL/2023.02.15/S&P 500 ends higher after strong retail sales data.txt @@ -0,0 +1,43 @@ +(Updates with price moves after end of trading session)*Retail sales up 3% in Jan vs. est. of 1.8% rise*TSM slides as Berkshire Hathaway chops stake*Devon Energy drops on profit miss*Indexes: S&P 500 +0.28%, Nasdaq +0.92%, Dow +0.11%Feb 15 (Reuters) - The S&P 500 ended higher on Wednesday +after stronger-than-expected retail sales data offered evidence +of resilience in the U.S. economy, but gains were capped as +investors worried about more interest rate hikes by Federal +Reserve in the months ahead.A Commerce Department report showed retail sales surged 3% +in January as purchases of motor vehicles and other goods pushed +the number well past the 1.8% estimate from economists polled by +Reuters.On Tuesday, data showed U.S. consumer prices accelerated in +January, boosting expectations that the Fed will raise the +policy rate at least twice more this year to the 5-5.25% range."The good news from retail, and broadly from the stronger +economy, has been mostly priced in," said Ross Mayfield, an +investment strategist at Baird in Louisville, Kentucky. "At the +same time, that strength has taken market expectations of rate +cuts off the table and moved the terminal Fed funds rate a +little bit higher."Fueled by a rebound in growth stocks that were hammered in +last year's stock market downturn, the S&P 500 has +climbed 8% so far in 2023, while the Nasdaq has +recovered 15%. A better-than-expected quarterly earnings season +has provided cautious optimism.More than half of all S&P 500 companies have reported +quarterly earnings, and nearly 70% of those have topped profit +expectations, according to I/B/E/S data from Refinitiv. That +compares to a long-term average of 66%.Apple, Alphabet, Amazon and +Tesla rose between 1.4% and 2.4%, driving gains in the +S&P 500 and Nasdaq.The S&P 500 climbed 0.28% to end the session at 4,147.61 +points.The Nasdaq gained 0.92% to 12,070.59 points, while Dow +Jones Industrial Average rose 0.11% to 34,128.05 points.Nine of the 11 S&P 500 sector indexes rose, led by a +1.2% gain in consumer discretionary.Roblox soared 26% after the gaming platform popular +with kids topped quarterly bookings estimates.U.S.-listed shares of Taiwan Semiconductor Manufacturing Co +(TSMC) fell 5.3% after Warren Buffett's Berkshire +Hathaway Inc slashed its stake in the chipmaker.Shares of Airbnb Inc rose over 13% after the +company posted forecast-beating results due to strong travel +demand.Devon Energy slumped about 10% after the shale oil +producer missed expectations for quarterly profit due to a hit +to production from severe cold weather in the United States and +higher expenses.After the bell, Roku surged 14% following a revenue +forecast that beat analysts' expectations.Across the U.S. stock market, advancing stocks +outnumbered falling ones by a 1.4-to-one ratio.The S&P 500 posted 19 new highs and no new lows; the +Nasdaq recorded 84 new highs and 55 new lows.Volume on U.S. exchanges was relatively light, with 10.5 +billion shares traded, compared to an average of 11.8 billion +shares over the previous 20 sessions.(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and by Noel Randewich in Oakland, Calif., additional reporting +by Shristi Achar A; Editing by Savio D'Souza, Anil D'Silva and +David Gregorio) \ No newline at end of file diff --git a/news/AAPL/2023.02.15/S&P 500, Dow slip after retail sales data; megacaps lift Nasdaq.txt b/news/AAPL/2023.02.15/S&P 500, Dow slip after retail sales data; megacaps lift Nasdaq.txt new file mode 100644 index 0000000000000000000000000000000000000000..67837322d182999fd5d844d90fa33ffbdaec692b --- /dev/null +++ b/news/AAPL/2023.02.15/S&P 500, Dow slip after retail sales data; megacaps lift Nasdaq.txt @@ -0,0 +1,40 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Retail sales up 3% in Jan vs. est. of 1.8% rise*TSM slides as Berkshire Hathaway chops stake*Devon Energy drops to S&P 500 bottom on profit miss*Indexes: Dow down 0.42%, S&P down 0.27%, Nasdaq up 0.16%Feb 15 (Reuters) -The S&P 500 and the Dow fell on Wednesday after +stronger-than-expected retail sales data offered more evidence +of resilience in the U.S. economy, fueling concerns that the +Federal Reserve could stick to its rate-hike campaign.Gains in megacap stocks including Apple, +Alphabet and Tesla, however, kept the +tech-heavy Nasdaq afloat.A Commerce Department reportshowedU.S. retail sales increased by the most in nearly two years +in January after two straight monthly declines as Americans +boosted purchases of motor vehicles and other goods. Economists +polled by Reuters had forecast sales would increase 1.8%."All of the data continues to point towards how strong +the economy is and if you want the Fed to stop tightening, you +want to see a little weakness to give them cover," said Thomas +Hayes, chairman at Great Hill Capital LLC in New York."The consumer is strong despite the fact that their +savings are going down. People still have jobs and they're going +to spend and that's evident in the numbers this morning."The benchmark S&P 500 came under pressure on Tuesday after +data showed U.S. consumer prices accelerated in January, +boosting expectations that the U.S. central bank will raise the +policy rate at least twice more this year to the 5-5.25% range.Still, the index is up 7.5% so far this year after a +19.4% slump in 2022, supported by better-than-expected earnings +reports and a rebound in growth stocks.At 12:52 p.m. ET, the Dow Jones Industrial Average +was down 143.71 points, or 0.42%, at 33,945.56 and the +S&P 500 was down 11.18 points, or 0.27%, at 4,124.95The Nasdaq Composite was up 19.26 points, or 0.16%, +at 11,979.40."Tech and growth stocks are benefiting on hopes that the +U.S. economy won't have a recession and that favorite mega-cap +tech plays will lead the way," said Edward Moya, senior market +analyst at Oanda."Investors still believe in the U.S. economy and they +are growing confident that the worst is over for tech."Eight of 11 major S&P 500 sectors slid, with a 2.6% drop in +the energy index leading declines as oil prices fell.U.S.-listed shares of Taiwan Semiconductor Manufacturing Co +(TSMC) fell 6% after Warren Buffett's Berkshire Hathaway +Inc slashed its stake in the chipmaker.Airbnb Inc jumped 12.8% after the vacation rental +firm's fourth-quarter results beat market expectations.Devon Energy slumped 12.5% after the shale oil +producer missed expectations for quarterly profit due to a hit +to production from severe cold weather in the United States and +higher expenses.Declining issues outnumbered advancers for a 1.50-to-1 +ratio on the NYSE. Advancing issues outnumbered decliners by a +1.12-to-1 ratio on the Nasdaq.The S&P index recorded 13 new 52-week highs and no new +lows, while the Nasdaq recorded 42 new highs and 40 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru, +additional reporting by Shristi Achar A; Editing by Savio +D'Souza and Anil D'Silva) \ No newline at end of file diff --git a/news/AAPL/2023.02.15/Stocks end higher after strong retail sales data.txt b/news/AAPL/2023.02.15/Stocks end higher after strong retail sales data.txt new file mode 100644 index 0000000000000000000000000000000000000000..ddc14f9890da9c26e1168f2f8156c25acea61b98 --- /dev/null +++ b/news/AAPL/2023.02.15/Stocks end higher after strong retail sales data.txt @@ -0,0 +1 @@ +The Dow closed up fractionally, the S&P gained about three-tenths of a percent and the Nasdaq climbed just shy of one percent.A Commerce Department report showed retail sales rebounded strongly in January, surging 3% - well past the 1.8% estimate from economists polled by Reuters.That means consumers are still buying cars and other goods despite high prices - as data a day earlier showed that consumer prices ticked up in January even though the pace of inflation is slowing."In my opinion, it all starts with the labor market..."Devon Drew is founder, CEO and CIO of DFD Partners."And the labor market's resilience is the main reason consumers continue to spend. And as long as that's the case, inflation will remain sticky. [FLASH] I'm just looking for the Fed to stay higher for longer, which should put some pressure on stocks and have continued muted returns until we get to that point where there's enough data where we can say, 'Hey, we can actually put a pause on things here."The S&P 500 has climbed 8% so far in 2023, while the Nasdaq has recovered 15% - both fueled by a rebound in growth stocks that were hammered in last year's stock market downturn.On Wednesday, shares of Apple, Alphabet, Amazon and Tesla rose between 1.4% and 2.4%.Roblox soared 26% after the gaming platform popular with kids topped quarterly bookings estimates.And shares of Airbnb rose over 13% after giving a bullish revenue forecast due to strong travel demand. \ No newline at end of file diff --git a/news/AAPL/2023.02.15/TSMC out of favor with slew of funds alongside Berkshire, filings show.txt b/news/AAPL/2023.02.15/TSMC out of favor with slew of funds alongside Berkshire, filings show.txt new file mode 100644 index 0000000000000000000000000000000000000000..155f5ee1825f2881843c6e5751dd01c666db4e51 --- /dev/null +++ b/news/AAPL/2023.02.15/TSMC out of favor with slew of funds alongside Berkshire, filings show.txt @@ -0,0 +1 @@ +On Tuesday, Warren Buffet's Berkshire unveiled in a filing it cut its position in Taiwan Semiconductor Manufacturing Co Ltd by 86.2% to 8.29 million sponsored American depositary shares only roughly three months after having bought $4.1 billion worth of chipmaker stock.The announcement drove shares in TSMC down 6% on Wednesday, although they remain up 23.5% this year.TSMC was not immediately available for comment. Equity long-short hedge fund Tiger entirely sold its 1.3 million shares in TSMC in the fourth quarter, a stake worth $119 million at current prices. Just like Berkshire, the firm had bought the shares in the third quarter.One of the biggest sellers of TSMC was Fort Lauderdale-based investment firm GQG Partners. It slashed its position by 63%, still remaining with 6.7 million, or $616.2 million. GQG did not immediately comment on the matter.Fund manager Capital Group also sold over 9.5 million shares in the chipmaker, regulatory filings showed. Capital Group declined to comment on its investment decisions.JPMorgan and BlackRock dumped roughly 4 million shares in TSMC each. JPMorgan declined to comment and BlackRock did not immediately respond to a request for comments.Berkshire's investors are still trying to figure out why Buffett decided to sell most of its stake in the company. On Tuesday, Charles Munder, a director and vice-chairman of Berkshire, said TSMC is the "strongest semiconductor company on earth," without elaborating on the reasons for the sale. "I'm a bit baffled. Maybe Berkshire decided it wanted to add Apple more than he wanted to own TSMC," said Bill Smead, chief investment officer of Smead Capital Management, which is an investor in Berkshire. A long-time investor in Berkshire, Thomas Russo, a partner at Gardner, Russo & Gardner, speculated Buffett might have seen an environment change, which could not be good for the TSMC. "Berkshire reserves the right to turn on a dime to redeploy the money, to respond to circumstances." (Reporting by Carolina Mandl, in New York; editing by Megan Davies and Josie Kao)By Carolina Mandl \ No newline at end of file diff --git a/news/AAPL/2023.02.15/U.S. Escalates Apple Probe, Looks To Involve Antitrust Chief - WSJ.txt b/news/AAPL/2023.02.15/U.S. Escalates Apple Probe, Looks To Involve Antitrust Chief - WSJ.txt new file mode 100644 index 0000000000000000000000000000000000000000..ba350f9cf103c8ae82b2e6486c29fc5bc306e81f --- /dev/null +++ b/news/AAPL/2023.02.15/U.S. Escalates Apple Probe, Looks To Involve Antitrust Chief - WSJ.txt @@ -0,0 +1,4 @@ +Feb 15 (Reuters) -* U.S. ESCALATES APPLE PROBE, LOOKS TO INVOLVE ANTITRUST +CHIEF - +WSJ +Source text: [http://bit.ly/3K6pFF3] \ No newline at end of file diff --git a/news/AAPL/2023.02.15/U.S. House Judiciary subpoenas Big Tech CEOs over free speech.txt b/news/AAPL/2023.02.15/U.S. House Judiciary subpoenas Big Tech CEOs over free speech.txt new file mode 100644 index 0000000000000000000000000000000000000000..9aa3172ce2bf5f0ec10bc02d2ab0a504fc99b956 --- /dev/null +++ b/news/AAPL/2023.02.15/U.S. House Judiciary subpoenas Big Tech CEOs over free speech.txt @@ -0,0 +1 @@ +Jordan and other conservatives accused the companies of suppressing conservative speech during the Trump administration, and expanded that accusation to include colluding with the Biden administration once he won the White House. The White House and major tech companies have rejected the allegation."These subpoenas are the first step in holding Big Tech accountable," Jordan's office said in a statement.Microsoft said in an email that it had "started producing documents, are engaged with the Committee, and committed to working in good faith." None of the other four companies immediately responded to a request for comment.The subpoenas were sent to Alphabet's Sundar Pichai, Andy Jassy of Amazon.com, Tim Cook of Apple, Meta's Mark Zuckerberg, and Satya Nadella of Microsoft and demand documents and communications related to alleged collusion between the government and the companies to stifle free speech.Jordan set a March 23 deadline to turn over documents.Republicans who took control of the House of Representatives in January after narrowly winning control in the November elections have made questions about Big Tech a top focus and created a Select Subcommittee on the Weaponization of the Federal Government.Last week, the panel held its first hearing into Republican claims that the Justice Department and FBI show anti-conservative bias, a move made following the FBI's discovery of hundreds of classified documents at Republican former President Donald Trump's Florida resort.Jordan wrote related letters to the companies in December, making similar demands but the House was in Democratic hands and before he became chair. Jordan's office said that the companies did not adequately comply. (Reporting by Diane Bartz, Susan Heavey, David Shepardson and Doina Chiacu; Additional reporting by Jeffrey Dastin; editing by Jonathan Oatis and Nick Zieminski) \ No newline at end of file diff --git a/news/AAPL/2023.02.15/U.S. Justice Department escalates Apple probe - WSJ.txt b/news/AAPL/2023.02.15/U.S. Justice Department escalates Apple probe - WSJ.txt new file mode 100644 index 0000000000000000000000000000000000000000..6bddc793d9c79465760c301039c86d69fa3720e0 --- /dev/null +++ b/news/AAPL/2023.02.15/U.S. Justice Department escalates Apple probe - WSJ.txt @@ -0,0 +1 @@ +Reuters had previously reported the Justice Department opened an antitrust probe into Apple in 2019.The Wall Street Journal report said more litigators have now been assigned, while new requests for documents and consultations have been made with all the companies involved.The probe will also look at whether Apple's mobile operating system, iOS, is anti-competitive, favoring its own products over those of outside developers, the report added.The DoJ declined to comment, while Apple did not immediately respond to a request for comment. (Reporting by Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git "a/news/AAPL/2023.02.15/U.s. escalates apple probe, looks to involve antitrust chief - w\342\200\246.txt" "b/news/AAPL/2023.02.15/U.s. escalates apple probe, looks to involve antitrust chief - w\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..4b8f0602a0130a983186204a305807f46d8d07bb --- /dev/null +++ "b/news/AAPL/2023.02.15/U.s. escalates apple probe, looks to involve antitrust chief - w\342\200\246.txt" @@ -0,0 +1 @@ +U.S. ESCALATES APPLE PROBE, LOOKS TO INVOLVE ANTITRUST CHIEF - WSJ \ No newline at end of file diff --git a/news/AAPL/2023.02.15/World Press Review: February 15.txt b/news/AAPL/2023.02.15/World Press Review: February 15.txt new file mode 100644 index 0000000000000000000000000000000000000000..28e60aae604f9094c23f047cf547d32671ef2785 --- /dev/null +++ b/news/AAPL/2023.02.15/World Press Review: February 15.txt @@ -0,0 +1,4 @@ + +Kering, Heineken, Barclays, Glencore, LVMH, SAS, Airbus, Boeing, Berkshire Hathaway, Activision Blizzard, Microsoft, TSMC (Taiwan Semiconductor Manufacturing Company), U.S. Bancorp, BNY Mellon, Ally Financial, Chevron, McKesson Corp, Kroger, Apple, Louisiana-Pacific, Paramount Global, TripAdvisor, Airbnb, Reddit, Tesla, Starbucks, Ford  + + diff --git a/news/AAPL/2023.02.16/Apple Has Begun Firing Contractors Amid Mass Tech Layoffs - New York Post.txt b/news/AAPL/2023.02.16/Apple Has Begun Firing Contractors Amid Mass Tech Layoffs - New York Post.txt new file mode 100644 index 0000000000000000000000000000000000000000..134309944d30513ba12dd30a890bcf99df72e411 --- /dev/null +++ b/news/AAPL/2023.02.16/Apple Has Begun Firing Contractors Amid Mass Tech Layoffs - New York Post.txt @@ -0,0 +1,5 @@ +Feb 16 (Reuters) -* APPLE HAS BEGUN FIRING CONTRACTORS AMID MASS TECH LAYOFFS +- NEW +YORK POST +Source text: bit.ly/412mfZL +Further company coverage: \ No newline at end of file diff --git "a/news/AAPL/2023.02.16/Apple has begun firing contractors amid mass tech layoffs - new\342\200\246.txt" "b/news/AAPL/2023.02.16/Apple has begun firing contractors amid mass tech layoffs - new\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..bc2e0dd678e2f2f29721637e8b9864aa420211ff --- /dev/null +++ "b/news/AAPL/2023.02.16/Apple has begun firing contractors amid mass tech layoffs - new\342\200\246.txt" @@ -0,0 +1 @@ +APPLE HAS BEGUN FIRING CONTRACTORS AMID MASS TECH LAYOFFS - NEW YORK POST \ No newline at end of file diff --git "a/news/AAPL/2023.02.16/Av\303\251, Warren, morituri te salutant.txt" "b/news/AAPL/2023.02.16/Av\303\251, Warren, morituri te salutant.txt" new file mode 100644 index 0000000000000000000000000000000000000000..ddcb581c49a4e1c9a20f11efdec5157c703044b5 --- /dev/null +++ "b/news/AAPL/2023.02.16/Av\303\251, Warren, morituri te salutant.txt" @@ -0,0 +1,10 @@ + +Just like the Roman emperor, it seems that the Omaha oracle has the right of life or death over companies, or at least a certain power over the direction of their stock prices. +This week, it was TSMC that paid the price. Berkshire Hathaway announced it had sold more than 85% of its stake in Taiwan Semiconductor Manufacturing Company, pushing the Taiwanese chip giant's stock into the red. The thumb-down effect. On the good news side, Berkshire Hathaway announced that it had strengthened its positions in Apple, Louisiana-Pacific and Paramount Global. +Its centurion Charlie Munger doesn't have as much power over the financial plebs. The vice president of Berkshire Hathaway regularly castigates cryptocurrencies, without these announcements having any effect on blockchains, which are doing very well on their own to lose their fights in the financial arena. + + + +Drawing by Amandine Victor for MarketScreener +  +* Avé, Warren, morituri te salutant: reference to the Latin expression "Avé, Caesar, morituri te salutant" meaning "Avé, Caesar, those who are about to die salute you". diff --git a/news/AAPL/2023.02.16/Exclusive-SoftBank's Arm China profit drops over 90% in 2022 -document.txt b/news/AAPL/2023.02.16/Exclusive-SoftBank's Arm China profit drops over 90% in 2022 -document.txt new file mode 100644 index 0000000000000000000000000000000000000000..ae5fe022d304071c878e5086995e10e097bb2aff --- /dev/null +++ b/news/AAPL/2023.02.16/Exclusive-SoftBank's Arm China profit drops over 90% in 2022 -document.txt @@ -0,0 +1 @@ +The company, set up in 2018 as a joint venture of British chip technology firm Arm Ltd, laid off nearly 100 employees last week, most of them engineers, Reuters reported exclusively on Friday.Arm technology powers most global smartphones and the company counts Apple Inc and Qualcomm Inc as customers. SoftBank had said early last year it was aiming to take Arm Ltd public by the end of March; last week Arm's CEO told Reuters the firm was committed to a listing this year.The China business is the exclusive distributor of Arm chip technology in China and develops and sells its own chip designs based on Arm. It accounts for 20%-25% of Arm Ltd's global revenue, according to two sources familiar with the situation. One of the sources said the drop in Arm China's profit would not have a financial impact on Arm Ltd, whose royalty and licensing fee payments come before profit is calculated. In 2021, the China business paid Arm about $500 million, the two sources said. It is not clear how much Arm Ltd made from China last year."The Arm Ltd IP business part of Arm China is performing very well and we are positioned for continued growth going forward. The new management team has quickly restored confidence with our China ecosystem, and we are pleased to have the previous management issues well behind us as we expand Arm technology into the China market," said Phil Hughes, Arm's vice president of external communications, in a prepared statement.SoftBank and Arm China did not respond to requests for comment.Arm China's net profit plunged to $3.2 million last year from $79.2 million in 2021, while revenue grew to nearly $890 million last year from $665 million the year before, according to the company's 2022 unaudited earnings statement, seen by Reuters and confirmed by another independent source.According to the statement's footnote there is a $37 million loss in foreign exchange in 2022, compared with a gain of $9 million the previous year.Both sources declined to be identified as the information was confidential.Arm Ltd has been considered one of the better performing assets at SoftBank, where its startup investment Vision Fund has had four straight quarters of losses. The bulk of the loss at the fund in the latest reported quarter came from a steep decline in the valuation of investments in unlisted companies, but listed portfolio companies, Indonesian ride-hailing company Goto Gojek Tokopedia PT, South Korean e-commerce platform Coupang Inc and workspace provider WeWork Inc also contributed to the loss.ARM CHINA'S STRUGGLESArm China has been a challenging business for SoftBank to navigate. Set up in 2018 with longtime Arm executive Allen Wu as CEO, SoftBank allowed Chinese funds together to take a majority stake in the joint venture.Wu is credited with expanding the China business, according to two sources familiar with the company. But the relationship between Wu and some of the major shareholders soured over conflict of interest issues around Wu's own investment fund. That turned into a two-year public battle as SoftBank worked to oust Wu.To shield Arm Ltd from the China troubles as it aimed to take Arm public, SoftBank last March transferred Arm Ltd's stake in the joint venture into a separate special-purpose vehicle, according to two sources with knowledge of the matter. One of them said, however, that the official Chinese records still show Arm Ltd as a shareholder.By late April 2022, SoftBank pushed out Wu from Arm China by physically and digitally blocking him, and put in place two CEOs, Eric Chen from SoftBank and Liu Renchen, vice dean at the Research Institute of Tsinghua University in Shenzhen. (Reporting by Jane Lanhee Lee in Oakland, Calif., and Kane Wu in Hong Kong; Additional reporting by Josh Horwitz in Shanghai; Editing by Kenneth Li, Gerry Doyle and Matthew Lewis)By Jane Lanhee Lee and Kane Wu \ No newline at end of file diff --git a/news/AAPL/2023.02.16/Judge Albright Denies Apple's Motion To Stay Proceedings Pending Intra-District Transfe...txt b/news/AAPL/2023.02.16/Judge Albright Denies Apple's Motion To Stay Proceedings Pending Intra-District Transfe...txt new file mode 100644 index 0000000000000000000000000000000000000000..24c3825ff25afd15554b5a6a9ab0a0924aeb9ba9 --- /dev/null +++ b/news/AAPL/2023.02.16/Judge Albright Denies Apple's Motion To Stay Proceedings Pending Intra-District Transfe...txt @@ -0,0 +1,12 @@ +On February 2, 2023, Judge Albright denied Apple, Inc.'s ("Apple") Motion to Stay Pending Transfer.On February 10, 2022, Plaintiff SpaceTime3D, Inc. ("SpaceTime") sued Apple in the Waco Division of the Western District of Texas for infringement of three patents. On July 14, 2022, Apple moved for intra-district transfer to the Austin Division of the Western District. The Court set the Markman hearing for November 17, 2022. On November 16, 2022, Apple filed the Motion to Stay pending a decision on the intra-district transfer. The Court postponed the Markman hearing so the parties could conduct full briefing on the Motion.In deciding the Motion to Stay, the Court applied four factors: "(1) whether the movant has made a showing of likelihood of success on the merits; (2) whether the movant will suffer irreparable injury if the stay is not granted; (3) whether granting the stay would substantially harm the other parties; and (4) whether the stay would serve the public interest."The Court started its analysis by observing that caselaw affords district courts more discretion and deference in adjudicating intra-district transfers than inter-district transfers. Because the Court has the power to retain the case whether or not the transfer is granted, it does not have to stay proceedings or decide whether to transfer the case intra-district until closer to the trial date.The Court then applied the factors in the following fashion:The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Michael A. Bittner +Winston & Strawn LLP +35 West Wacker Drive +Chicago +IL 60601 +UNITED STATES +Tel: 3125585600 +Fax: 3125585700 +E-mail: awisinski@winston.com +URL: www.winston.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AAPL/2023.02.16/Should owning index funds be grounds for judicial recusal? No, says California judge.txt b/news/AAPL/2023.02.16/Should owning index funds be grounds for judicial recusal? No, says California judge.txt new file mode 100644 index 0000000000000000000000000000000000000000..592b46cd0a58c64c3f88d2362f71652055795839 --- /dev/null +++ b/news/AAPL/2023.02.16/Should owning index funds be grounds for judicial recusal? No, says California judge.txt @@ -0,0 +1 @@ +But the new law does not undermine longstanding precedent that allows judges to invest in index funds without worrying about the funds' ownership of shares in public companies, according to a ruling on Wednesday from U.S. District Judge Yvonne Gonzalez Rogers of Oakland, California.In notably fiery language, Rogers denied a recusal motion by patent holder Cellspin Soft Inc, which argued that the judge had a financial stake in Alphabet Inc through her husband's jobs -- formerly as a partner at McKinsey & Company Inc and then as a contract partner for venture capital firm Ajax Strategies -- and through her multimillion-dollar investment in two broad-based Vanguard index funds. Alphabet owns Fitbit Inc, one of the half-dozen defendants Cellspin accused of infringing its patents on the automated distribution of multimedia content.The judge, who granted summary judgment to the defendants last June, after more than five years of litigation, explained at length why, in her view, Cellspin's "speculation" about her husband's financial connections to Alphabet and its subsidiary Google LLC was utterly specious. In a nutshell: He left McKinsey before Google acquired Fitbit and is not an equity partner at Ajax, where his sole role is to advise the boards of two portfolio companies in which Google has no stake."The accusations are frivolous and devoid of any evidentiary merit," the judge wrote. "Plaintiff's attack on the integrity of the judiciary ... not only demonstrates a measure of desperation but is divorced from the law and the facts."It's always fun to read indignant judicial opinions, but in the larger context of judicial ethics, the most important part of Rogers' opinion is her discussion of the investments that she and her husband have in two Vanguard funds whose underlying stock portfolios are calibrated to reflect stock indexes. One of the Rogerses' investments is in a fund linked to the Standard & Poor's 500 Index. The other is in an index fund for internationally traded stocks.The federal statute governing judicial recusals includes a safe harbor provision that says judges need not step aside if they have a financial interest in a party through a "mutual or common investment fund," as long as the judge does not have a role in managing the fund. In several reported decisions between 2011 and 2015, judges have held that index funds - including the very Vanguard S&P 500 fund in which Rogers and her husband invested - are, in essence, mutual funds and therefore included in the safe harbor.Cellspin's lawyers at Garteiser Honea argued, however, that by investing in the Vanguard funds, Rogers had chosen to take a financial interest in the shares of the large public companies that dominate the underlying indexes, including Fitbit owner Google and other defendants."Owning index funds is just another way to hold/own Google and Apple stocks," Cellspin argued. "Investing in an index fund ... provides a foreseeable investment in Google."Cellspin said that 2022 precedent from the Federal Circuit in Centripetal Networks, Inc. v. Cisco Systems, Inc. sets a more demanding standard for judges who own stock. (In that case, the appeals court ruled that a West Virginia judge was required to recuse based on his wife's ownership of about $5,000 in Cisco stock, even though he and his wife moved the shares into a blind trust partway through the litigation.)Cellspin's lawyers also said that by passing a new judicial disclosure law last year, Congress signaled how seriously it expects judges to think about their financial conflicts.Fitbit's counsel at Desmarais pointed out the potentially seismic consequences of Cellspin's index fund theory in their brief opposing Rogers' recusal. "Cellspin's flawed interpretation of the law," Fitbit said, "taken to its logical conclusion, would likely exclude Judge Gonzalez Rogers -- along with many, if not most, other federal judges -- from presiding in almost every case involving publicly traded corporations."Rogers was having none of it. The new law, she said, did not change the statutory provision offering a safe harbor for mutual fund investments. Nor, she said, did the Federal Circuit's Centripetal decision, which involved direct ownership of stock in a litigant before the judge. Rogers said the Vanguard funds in which she has invested "are prototypical examples falling into the safe harbors for mutual or common investment funds."In an email statement Cellspin counsel Scott Fuller of Garteiser insisted that the recusal motion was "neither baseless nor illogical," since the recusal standard requires judges to step aside even if there is an appearance of partiality, including bias from a financial conflict.Fuller added that policy concerns about a potential parade of recusals if judges were required to step aside based on index fund holdings cannot dictate the outcome of specific recusal demands. "Judges are free to make whatever investments they see fit to make (including owning specific stocks or funds) but the impact of such investments will necessarily require recusal in some cases in order to maintain and protect the public trust in the court system," he said.I reached out to defense lawyers for Fitbit, Nike Inc, Under Armour Inc, Fossil Group Inc and Garmin International Inc. All opposed Rogers' recusal. None got back to me.Read more:Justice best served by leaving intact a conflicted judge's ruling: 5th CircuitCongress approves tougher financial disclosure rules for U.S. judgesJudge's stock portfolio didn't taint class rulings: tuna plaintiffs to 9th Circuit (Reporting By Alison Frankel)By Alison Frankel \ No newline at end of file diff --git a/news/AAPL/2023.02.17/India's Redington expects double-digit growth, to enter new markets.txt b/news/AAPL/2023.02.17/India's Redington expects double-digit growth, to enter new markets.txt new file mode 100644 index 0000000000000000000000000000000000000000..19e1e3a77f4c795c1dcc3ca85963a59de188e57e --- /dev/null +++ b/news/AAPL/2023.02.17/India's Redington expects double-digit growth, to enter new markets.txt @@ -0,0 +1 @@ +Redington, which distributes products for over 290 brands, including Apple and Samsung, is looking to enter about a dozen new countries like Indonesia, Myanmar and Azerbaijan in the next couple of quarters, Managing Director Rajiv Srivastava said.Chennai-based Redington, which operates in 38 countries, is also increasing its 4,500-odd workforce by 5% globally in about a year.The expansion comes at a time when global economies are contending with a slowdown, and the pandemic-led demand for consumer electronics is fading out as schools and offices reopened.Still, the drive towards digitisation by governments and businesses is a "one-way street" as offices would have to continue to spend on servers, storage and software upgrades driving revenue growth for companies like Redington, Srivastava said in the interview.Redington earlier this month recorded its highest-ever quarterly revenue for the three months ended Dec. 31 even as its profit slipped due to higher expenses.Srivastava said Redington, which has reported a double-digit topline growth for the last three years, would continue to be on a similar trajectory for the year ending March 2024.Analysts, on average, expect revenue for the period to climb nearly 11% to 862.74 billion rupees ($10.42 billion), according to IBES data from Refinitiv.The Redington MD further said that new gadget launches would now reach Indian consumers faster, given the recent electronics manufacturing boom coming on the back of global businesses looking to limit their reliance on China.The company's shares, which climbed nearly 25% in 2022, closed marginally lower at 179.85 rupees on Friday.($1 = 82.8140 Indian rupees) (Reporting by Praveen Paramasivam in Chennai; Editing by Sohini Goswami)By Praveen Paramasivam \ No newline at end of file diff --git a/news/AAPL/2023.02.17/Investors pull cash from classic risk plays as Fed rate picture shifts.txt b/news/AAPL/2023.02.17/Investors pull cash from classic risk plays as Fed rate picture shifts.txt new file mode 100644 index 0000000000000000000000000000000000000000..65dd953d54d5cbe4b2703ac12f22a9f6ff8a4948 --- /dev/null +++ b/news/AAPL/2023.02.17/Investors pull cash from classic risk plays as Fed rate picture shifts.txt @@ -0,0 +1 @@ +BofA Global Research's weekly "Flow Show", released on Friday, showed the largest outflows from technology funds since September, the largest outflows from emerging market debt funds in 14 weeks, and the largest outflows from junk debt funds in eight weeks. Stronger-than-expected data on U.S. employment, retail sales and inflation this month have pushed up expectations for how much higher the Fed will need to raise rates, a development that is typically bad news for riskier stocks and emerging market assets. BofA analysts said the data means it is "mission very much unaccomplished for the Fed" despite its 450 basis points of monetary tightening in this cycle so far. "Fed tightening always 'breaks' something," they add. Emerging market debt funds saw outflows of $700 million, the largest weekly outflow in 14 weeks, according to the report which attributed the decline to debt investors reducing risk. High yield - or junk - debt saw outflows of $2.6 billion, the largest in eight weeks, and tech funds had $1.1 billion of outflows, the most since September. Elsewhere, there were $5.5 billion inflows to bonds, $1 billion inflows to cash, $300 million to equities and $45 million to gold. Equity markets have largely shrugged off fears of the impact of higher for longer rates, so far.The tech heavy Nasdaq is set for a weekly gain and is trading near the five-month high hit in early February, and France's benchmark CAC 40 index hit a record high on Thursday boosted by solid results at some of the country's biggest companies, including luxury names and energy firms. However, BofA analysts said: "Remember 'buy humiliation, sell hubris' ... this time last year, likes of Moderna, Tesla, Apple widely viewed as "must-own" stocks; this year, it's likes of Exxon, Raytheon, Hermes ... always hedge hubris." (Reporting by Alun John; editing by Amanda Cooper and Susan Fenton) \ No newline at end of file diff --git a/news/AAPL/2023.02.17/Simplifying the Complexity of Crypto and NFTs with Mike Krilivsky and NFTpay.txt b/news/AAPL/2023.02.17/Simplifying the Complexity of Crypto and NFTs with Mike Krilivsky and NFTpay.txt new file mode 100644 index 0000000000000000000000000000000000000000..4ef0e789327703f00b103053a14a4a1859a7d9f6 --- /dev/null +++ b/news/AAPL/2023.02.17/Simplifying the Complexity of Crypto and NFTs with Mike Krilivsky and NFTpay.txt @@ -0,0 +1 @@ +Breaking down the barriers to NFT adoption with NFTpay's free and easy solution.With NFTpay, any company selling NFTs can now offer their NFTs to a broader audience without being limited by the complex and confusing process of crypto wallets, KYC, and crypto transfers. With NFTpay, customers can buy NFTs with just a credit card in less than a minute, making it accessible for everyone, including those without prior knowledge of crypto.Under the leadership of CEO Mike Krilivsky, NFTpay is determined to simplify the NFT and Web3 world, bringing it to billions of people in an easy and unified way. Mike Krilivsky says, "Our mission is to make NFTs accessible to everyone. NFTpay offers a payment solution that enables anyone, even those unfamiliar with crypto, to buy an NFT in just a minute. We handle all the complicated aspects, such as crypto wallets, buying cryptocurrency, KYC, and potential chargebacks, so the consumer and company can enjoy a seamless experience. The consumer's buying process is easier & companies' selling process and customer support is better because things are simple."As part of this mission, NFTpay has been constantly adding new features and experiences to continue to drive adoption with consumers and businesses alike. They recently rolled out features such as the NFTpay wallet API, USDC and USDT support, and NFT gaming services with other features such as ACH, Apple Pay and wire transfers coming soon.NFTs have reached extreme heights over the last few years, and adoption will only increase going forward. With solutions like NFTpay, adoption is only expected to increase. NFTs are complex and require a series of steps, such as ensuring enough crypto in your wallet, transferring it to an external wallet, and connecting to a mint site, just to mention a few. NFTpay eliminates all these obstacles, allowing users to bypass the complexity and buy NFTs with ease. NFT founders and partners can now integrate the NFTpay credit card solution directly into their websites with 2 lines of script, making it simple and secure for customers to purchase NFTs in just a minute without any wallet requirements. Mike Krilivsky continued, "Our focus has been on making the integration process for NFT project creators and NFT marketplaces as simple as possible so that they can get started accepting credit cards with the least possible integration work. Most projects are live within 24 hours." NFTpay leads the industry in supporting the most blockchains including Ethereum, Polygon, Solana, Avalanche, Algorand, USDC, USDT, Fantom, Telos, Binance Smart Chain, Cronos with more coming soon such as Cardano and Tezos.NFTpay founder Mike Krilivsky believes in innovating the simple. With this in mind they have been pushing the boundaries of NFTpay and are adding new features that will drive adoption with consumers and businesses alike. They have rolled out features like NFTpay wallet API, USDC, and USDT support, and NFT gaming services with other features such as ACH, Apple Pay, and wire transfers coming soon.With Mike Krilivsky and his team at NFTpay, NFT purchasing has never been easier and more accessible. Get ready to join the revolution in the crypto and NFT world.Media ContactCompany Name: NFTpayContact Person: Media RelationsEmail: help@nftpay.xyzCountry: United StatesWebsite: https://nftpay.xyz/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AAPL/2023.02.17/Taiwan Jan export orders seen falling for fifth month.txt b/news/AAPL/2023.02.17/Taiwan Jan export orders seen falling for fifth month.txt new file mode 100644 index 0000000000000000000000000000000000000000..ae482c7c142e36f921f4146e1f060477a9feacc8 --- /dev/null +++ b/news/AAPL/2023.02.17/Taiwan Jan export orders seen falling for fifth month.txt @@ -0,0 +1 @@ +The median forecast from a poll of 11 economists was for export orders to fall by 25.0% from a year earlier. Forecasts ranged for a contraction of between 17% and 31.8%.Taiwan's export orders, a bellwether of global technology demand, fell 23.2% in December. Taiwan's export orders are a leading indicator of demand for high-tech gadgets and Asian exports, and typically lead actual exports by two to three months.The island's manufacturers, including the world's largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd, are a key part of the global supply chain for technology giants including Apple Inc.The data for January will be released on Monday. (Compiled by Devayani Sathyan and Carol Lee; Reporting by Faith Hung; Editing by Ben Blanchard and Uttaresh.V) \ No newline at end of file diff --git a/news/AAPL/2023.02.17/Wall St drops on mounting worries about Fed staying hawkish.txt b/news/AAPL/2023.02.17/Wall St drops on mounting worries about Fed staying hawkish.txt new file mode 100644 index 0000000000000000000000000000000000000000..03090d71ae7a27be378b1a20d16de265b089ed81 --- /dev/null +++ b/news/AAPL/2023.02.17/Wall St drops on mounting worries about Fed staying hawkish.txt @@ -0,0 +1,44 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Defensive stocks limit market losses*Moderna slides after mixed data from flu vaccine trial +U.S. markets closed on Monday for Presidents' Day*Indexes down: Dow 0.18%, S&P 0.91%, Nasdaq 1.41%Feb 17 (Reuters) - U.S. stock indexes fell on Friday, +weighed down by energy and megacap growth names, as investors +worried that inflation and signs of strength in the U.S. economy +could put the Federal Reserve on pace for more interest rate +hikes.Wall Street indexes turned volatile this week following a +strong start to 2023 as economic data pointed to elevated +inflation, a tight job market and resilience in consumer +spending, giving the Fed more room for to raise borrowing costs.Goldman Sachs and Bank of America forecast three more rate +hikes this year and by a quarter of a percentage point each, up +from their previous estimate of two rate rises.Traders are expecting at least two more rate increases and +see the Fed rate peaking at 5.3% by July."Anything strong in terms of data is a sign of an overheated +economy, where the Fed is going to have to continue to raise +interest rates, either pushing them higher or keeping them +higher for longer," Robert Pavlik, senior portfolio manager at +Dakota Wealth said."So investors feel that the central bank is going to kill +the economy by jacking rates up too many times."Seven of the 11 major S&P sectors were lower, with energy +stocks sliding 3.6% as oil prices tumbled almost 3%.Rate-sensitive megacap names like Microsoft Corp, +Apple Inc and Amazon.com Inc lost more than 1% +as the yield on 10-year Treasury notes hit a +three-month high.Defensive sectors, which tend to outperform during economic +uncertainty, such as healthcare, consumer staple +and utilities gained.The CBOE Volatility index, also known as Wall +Street's fear gauge, traded above 20 points for a second session +in a row.At 12:51 p.m. ET, the Dow Jones Industrial Average +was down 60.12 points, or 0.18%, at 33,636.73, the S&P 500 +was down 37.34 points, or 0.91%, at 4,053.07, and the +Nasdaq Composite was down 167.37 points, or 1.41%, at +11,688.46.Adding to the gloom, Richmond Fed president Thomas Barkin +and Fed governor Michelle Bowman joined the chorus of officials +advocating for more rate hikes.Moderna Inc fell 5% after its experimental +messenger RNA-based influenza vaccine delivered mixed results in +a study.Deere & Co surged 7.6% after the world's largest farm +equipment maker raised its annual profit and beat quarterly +earnings expectations.Lithium miners Livent Corp, Albemarle Corp +and Piedmont Lithium Inc fell between 9% and 13% due to +weakness in Chinese price for the EV battery metal.U.S. markets will be closed on Monday on account of +Presidents' Day.Declining issues outnumbered advancers for a 2.08-to-1 ratio +on the NYSE and 1.36-to-1 ratio on the Nasdaq.The S&P index recorded six new 52-week highs and one new +low, while the Nasdaq recorded 55 new highs and 54 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; +Editing by Alden Bentley, Anil D'Silva, Sriraj Kalluvila and +Arun Koyyur) \ No newline at end of file diff --git a/news/AAPL/2023.02.18/ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay package...txt b/news/AAPL/2023.02.18/ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay package...txt new file mode 100644 index 0000000000000000000000000000000000000000..252c25e6f38a65b68810dd75c9784300462247cb --- /dev/null +++ b/news/AAPL/2023.02.18/ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay package...txt @@ -0,0 +1 @@ +Apple will hold its annual shareholder meeting on March 10. The ISS stance, published in a research note on Friday, comes after the iPhone maker had slashed Cook's 2023 compensation target by more than 40% to $49 million. Cook's salary will also depend more on how well the company's shares perform relative to market peers, according to regulatory filings by the company."Continued monitoring of the pay program is warranted to ensure that pay magnitude is supported by continued strong performance by the company," ISS said in a note.The proxy advisory firm also recommended investors vote for proposals including a resolution demanding a report on median gender and racial pay gaps, and an amendment of proxy access right, both of which were opposed by the company's management.Support for the proposal requesting a report on the median gender and racial pay gap is warranted as it would allow investors to compare and measure the progress of the company's diversity and inclusion initiatives and gauge how it is managing related risks, ISS said.The proposed amendment to the proxy access right would enhance the company's existing right for shareholders while maintaining safeguards on the nomination process, the note added.Traditionally, shareholder proposals that receive more than about 25% support of votes cast tend to urge the board to make changes, according to corporate governance experts.During last year's annual meeting, Apple shareholders had voted down a proposal requesting that the company report on its gender and racial pay gaps, with 66.4% of votes cast against it. (Reporting by Anirudh Saligrama in Bengaluru; Editing by Bill Berkrot) \ No newline at end of file diff --git a/news/AAPL/2023.02.19/Meta launches subscription service priced at $11.99 a month.txt b/news/AAPL/2023.02.19/Meta launches subscription service priced at $11.99 a month.txt new file mode 100644 index 0000000000000000000000000000000000000000..8b1ccd6145851426d2be7f9256cfabb2c3bbe91c --- /dev/null +++ b/news/AAPL/2023.02.19/Meta launches subscription service priced at $11.99 a month.txt @@ -0,0 +1 @@ +The subscription bundle for Instagram and Facebook also includes extra protection against impersonation and will be priced starting $11.99 per month on the web or $14.99 a month on Apple's iOS system.Meta Verified will be rolled out in Australia and New Zealand this week. (Reporting by Juby Babu in Bengaluru, editing by Deepa Babington) \ No newline at end of file diff --git a/news/AAPL/2023.02.19/Meta to test monthly subscription service priced at $11.99.txt b/news/AAPL/2023.02.19/Meta to test monthly subscription service priced at $11.99.txt new file mode 100644 index 0000000000000000000000000000000000000000..d48df81a4db3047944d63b1cdefc7217f8467e5e --- /dev/null +++ b/news/AAPL/2023.02.19/Meta to test monthly subscription service priced at $11.99.txt @@ -0,0 +1,20 @@ +Feb 19 (Reuters) - Meta Platforms on Sunday +announced that it is testing a monthly subscription service, +called Meta Verified, which will let users verify their accounts +using a government ID and get a blue badge, as it looks to help +content creators grow and build communities.The subscription bundle for Instagram and Facebook, to be +launched later this week, also includes extra protection against +impersonation and will be priced starting at $11.99 per month on +the web or $14.99 a month on Apple's iOS system and Android.Meta Verified will be rolled out in Australia and New +Zealand this week, with gradual launches in other countries to +follow.Meta's foray into subscription services follows Twitter, +which announced last month that Twitter Blue will be priced at +$11 per month.The social media giant's CEO Mark Zuckerberg has earlier +said it was planning to launch several new products that would +"empower creators to be way more productive and creative," while +cautioning about the cost associated with supporting the +technology for a large user base.Other social media apps, like Snap Inc's +Snapchat and messaging app Telegram launched paid subscription +services last year, as a new source of revenue. +(Reporting by Juby Babu in Bengaluru, editing by Deepa +Babington and Nick Zieminski) \ No newline at end of file diff --git a/news/AAPL/2023.02.20/APPLE INC : Gets a Buy rating from UBS.txt b/news/AAPL/2023.02.20/APPLE INC : Gets a Buy rating from UBS.txt new file mode 100644 index 0000000000000000000000000000000000000000..bf0114e4feb460773af7f24c6762c6af5a7ae157 --- /dev/null +++ b/news/AAPL/2023.02.20/APPLE INC : Gets a Buy rating from UBS.txt @@ -0,0 +1 @@ +In his latest research note, analyst David Vogt confirms his positive recommendation. The broker UBS is keeping its Buy rating. The target price remains set at USD 180. \ No newline at end of file diff --git a/news/AAPL/2023.02.20/Foxconn chairman to visit COVID-hit iPhone plant in China -source.txt b/news/AAPL/2023.02.20/Foxconn chairman to visit COVID-hit iPhone plant in China -source.txt new file mode 100644 index 0000000000000000000000000000000000000000..285be5af01b281744300bcc608e9b55d5285df61 --- /dev/null +++ b/news/AAPL/2023.02.20/Foxconn chairman to visit COVID-hit iPhone plant in China -source.txt @@ -0,0 +1 @@ +This will be Liu's first visit to the world's largest Apple iPhone factory in his role as chairman, and his main goals are to review conditions after the resumption of production and to extensively exchange views, the source said.Foxconn, formally known as Hon Hai Precision Industry Co, declined to comment. The source declined to be identified as they were not authorised to speak to the media. The Taiwanese company's iPhone plant was hit late last year by a COVID-19 outbreak that prompted thousands of worker departures and unrest, as well as production disruptions.In January, Foxconn said output at its Zhengzhou plant had "basically returned to normal."(This story has been refiled to remove extraneous words in headline) (Reporting by Sarah Wu; Editing by Stephen Coates)By Sarah Wu \ No newline at end of file diff --git a/news/AAPL/2023.02.20/Meta to launch monthly subscription service.txt b/news/AAPL/2023.02.20/Meta to launch monthly subscription service.txt new file mode 100644 index 0000000000000000000000000000000000000000..409cec36e019edde8ecd5f7e3325536a435bf1e9 --- /dev/null +++ b/news/AAPL/2023.02.20/Meta to launch monthly subscription service.txt @@ -0,0 +1 @@ +The subscription bundle for Instagram and Facebook, announced on Sunday and still being tested, includes extra protection against impersonation.It will be priced starting at $11.99 per month on the web or $14.99 a month on Android or Apple iOS.Meta Verified will be rolled out in Australia and New Zealand this week, with gradual launches elsewhere to follow.It follows similar moves by Twitter, which has announced Twitter Blue, priced at $11 a month.CEO Mark Zuckerberg has said Meta was planning to products that would, quote, "empower creators to be way more productive and creative." But he also warned about the cost of supporting the technology for a large user base.Other social media apps, like Snapchat and Telegram launched paid subscription services last year as a new source of revenue. \ No newline at end of file diff --git a/news/AAPL/2023.02.20/Taiwan Jan export orders fall more slowly, downside risks remain.txt b/news/AAPL/2023.02.20/Taiwan Jan export orders fall more slowly, downside risks remain.txt new file mode 100644 index 0000000000000000000000000000000000000000..f0d1643e75a685119befa481ce48331ac5edaa2c --- /dev/null +++ b/news/AAPL/2023.02.20/Taiwan Jan export orders fall more slowly, downside risks remain.txt @@ -0,0 +1 @@ +The island's export orders, a bellwether for global technology demand, had been 19.3% lower than a year before at $47.51 billion, the Ministry of Economic Affairs said on Monday. That beat analysts' expectations for a 25.0% decline.January's drop followed December's 23.2% annual fall, with last month's orders also affected by the long Lunar New Year holiday, which fell in January in both Taiwan and China. However, orders for telecoms products rose 9.8% from a year earlier - the strongest rise since last June - thanks to an improving supply chain situation in China, the ministry said.Orders for electronic products fell 21.8%, though the decline was offset by demand for chips for high-performance computing and automobiles, it added.Huang Yu-ling, director of the ministry's statistics agency, told reporters that 70% of more than 2,000 companies it had surveyed had seen no effect from the end of China's pandemic controls, because demand in the general environment remained weak.While semiconductor demand driven by new technologies would help orders in the traditional low season in the first quarter, "the downside risks of the global economy are still high, which may affect the performance of export orders", the ministry said.The ministry added that it expected export orders this month to be lower than in February 2022 by between 6.9% and 10.8%.Taiwanese firms, such as Taiwan Semiconductor Manufacturing Co Ltd,, are major suppliers to Apple Inc, Qualcomm Inc and other global tech companies.Taiwan's January orders from China were 45.9% lower than a year earlier, versus the annual fall of 37.7% seen in December.China late last year largely abandoned a stringent zero-COVID policy that had led to widespread public frustration with lockdowns and damage to its economy, the world's second largest.Taiwan's orders from the United States in January fell 14.7% from a year earlier, the exact same rate as in December.Export orders from Europe rose 18.3%, versus December's annual fall of 23.9%. Orders from Japan contracted 6%. (Reporting by Faith Hung; Editing by Bradley Perrett)By Faith Hung \ No newline at end of file diff --git a/news/AAPL/2023.02.20/The Patent Flywheel : Driving A Culture Of Innovation.txt b/news/AAPL/2023.02.20/The Patent Flywheel : Driving A Culture Of Innovation.txt new file mode 100644 index 0000000000000000000000000000000000000000..a2a9de5cdbbef0a1cc713ba8e627f06345733f5d --- /dev/null +++ b/news/AAPL/2023.02.20/The Patent Flywheel : Driving A Culture Of Innovation.txt @@ -0,0 +1,12 @@ +Technology is advancing at a blistering pace. It permeates every area of our modern lives - from the specially-formulated shampoo we use in the shower to fight dandruff, to the fuel-efficient and electric cars in which we drive to work, to the synthetic materials used to create the clothing we wear. Many companies want to be a part of this future by being at the forefront of these advancements in technology. Going from a "good" company to a market leader - a "great" company - requires a culture where innovation is celebrated and efficiently generated systematically.Jim Collins, in his number one best-selling book Good to Great (Random House Business Books, 2001), introduces an insightful framework for establishing company culture using the image of a mechanical flywheel. The flywheel captures his impression of "the overall feel of what it was like inside companies that went from good to great." We believe that a particular flywheel architecture including as components the activities of patent filing and strategic portfolio management drives a company's high performance innovation culture: a culture that systematically and continuously generates market leading technology.PatentsFamiliar companies whose products and services we use daily spend billions of dollars on research and development. According to the Intellectual Property Owners Association, Microsoft and Apple spend $20 billion USD a year on R&D, while Amazon reportedly spends a similar amount. The creations that come out of those organizations - Windows, the iPad, Amazon Web Services - are woven into the fabric of our daily lives. Each of those companies are valued in the hundreds, if not thousands, of billions of dollars, because of these creations that we use every day. Each of these companies has at least one thing in common - thousands of patents. In 2022 alone, Microsoft received 1888 patents, Amazon received 2051 patents, and Apple received 2313 patents.Strong patents can be directly valuable: they can and do result in a windfall for companies that identify and pursue infringers. Among other large awards, in 2018, a Delaware jury awarded IBM $82.5 million in 2018 in its suit against Groupon.But value need not come only from a successful infringement suit. Patents are assets, like hardware, furniture, and real property. IP questions are often the first thing venture capital outfits ask when looking to invest. A 2006 study by Hsu et al, "Patents as Quality Signals for Entrepreneurial Ventures," found that doubling the size of a patent portfolio led to a 28% increase in overall valuation. A 2021 study by Richardson et al. (available athttps://www.ipwatchdog.com/2017/04/18/2016-patent-prices-key-diligence-data/id=81708) found that the asking price for the average patent was $208,000.Patents are most valuable as assets when they are filed and managed to align with the company's business, product, and technology strategies. For example, patents can be strategic assets when the claims protect future value streams enabling a company to essentially commercialize the patented innovations exclusively. Strategically aligned patents further provide the opportunity to capture all of the economic value that the patented innovations generate. Such patents protect future profit and revenue streams when directed to differentiating and market leading features or functions. A company can also leverage patents defensively and offensively to capture all of the economic value that the patents themselves generate. For example, to mitigate litigation or competitive risks, patents can be used for counter-assertion or deterrence. Finally, the more value protected by the patent, the more valuable the patent, not only from owning, but also through licensing or selling the patent to a third-party.A well executed patent filing, acquisition, and portfolio management program, therefore, can be a strategic and competitive advantage for an innovative company. Nevertheless, it is an advantage when patents not only merely protect innovations, but more important, when filing patents also contribute to the generation of more innovations. Applying the flywheel framework, we believe that an operationally efficient patent program that is aligned with a company's strategies will increase inventor engagement and drive a high performance innovation culture that systematically generates market leading technology.Innovation FlywheelIn Good to Great, Jim's flywheel is a massive 5000 pound metal disk mounted horizontally on an axle. The task is to get the flywheel rotating on the axle as fast and as long as possible. Pushing the disk initially even with great effort only produces imperceptible results. For example, at first the flywheel only inches forward. After persistent effort the flywheel eventually completes one entire turn. With continued effort in a consistent direction, the flywheel turns through two. four. one hundred. one thousand rotations per minute, building speed and momentum with each turn. Then, at some point, there is a breakthrough moment. In that moment, the momentum of the flywheel drives it forward with its own weight even with less effort than during the first turn. Each turn builds upon the work done previously compounding investments of effort. Collins writes: "The huge heavy disk flies forward, with almost unstoppable momentum."Observing companies experiencing the good-to-great transformations, Collins found the flywheel analogy compelling. No single defining action, program, nor killer innovation, explained how the transformations happened. Instead, transformations came about by a cumulative process: step by step, action by action, decision by decision, i.e. turn by turn of the flywheel, which added up to sustained and exceptional performance. In fact, what we experience or observe as company culture is actually those interlocking components comprising the steps, actions, and decisions that build one upon another to drive unstoppable momentum: the flywheel effect.The flywheel framework was so compelling that Amazon invited Jim to engage CEO Jeff Bezos and his executive team to teach them the flywheel effect in the midst of the dot-com crisis. In a 2019 follow-up to Good to Great, Collins shares the disciplined thought process for creating the first Amazon flywheel. Bezos and his lieutenants sketched their flywheel to articulate the magic momentum necessary to drive the enterprise at its best and infuse the culture with an obsession to create more value for more customers. Amazon committed fully to its flywheel and rode its momentum to becoming one of the most successful and enduring companies emerging out of the dot-com era.Innovation cultures are essential for consistently creating differentiating technology and an enduring competitive advantage in the marketplace. The underlying flywheel architecture of any company culture includes four to six interlocking components representing activities such that each component follows from the previous to create a circular path back to the first component. In other words, the interlocking components form a loop that cycles back upon itself to accelerate momentum driving the flywheel forward. A high performance innovation culture necessarily involves compounding interlocking components generating and commercializing new ideas and inventions. A portfolio of patents that meet the requirements for filing and allowance in any patent office anywhere in the world includes probably the most valuable and thoroughly curated ideas and innovations in any company.To file a patent application first you must start with an invention disclosure describing in some detail the concept that is the inventor's solution to a technological problem. After the invention is captured, a patent attorney along with other stakeholders in the company review the disclosure and evaluate whether to file a patent to protect the invention. Based on the intrinsic value of the underlying invention or the strategic importance of the patent, the patent attorney files one or more patent applications claiming the invention in relevant jurisdictions worldwide.Every filed application includes a written description and diagrams drafted by either the in-house patent attorney or by law firm patent counsel engaged by the company. The filed application describes the invention in a narrative form to tell the problem-solution story and to define the scope of protection claimed. Once filed within 18 months the claimed invention is published, except when non-publication is requested in the United States (US), in which case the invention will be publicly available only after a patent is granted by the US patent office. After prosecuting the application and negotiating with a patent office the scope of allowable subject matter, if any, the company receives a granted patent.Inventors are generally excited about successfully receiving a granted patent since it provides for them recognition as experts inside and outside the company. Many companies have rewards programs that compensate inventors financially for filing and successfully receiving granted patents, further incentivizing the disclosure of more inventions.Often, in-house patent attorneys periodically present internal reports and other communications about filed and granted patents to senior executives and technology and marketing leaders throughout the company. Also, in-house patent attorneys provide training to employees using previously filed and granted patents as examples of subject matter eligible for protection. These presentations, reports, trainings, and communications help scale and cross-pollinate innovations by making more innovators aware of the work that results in patents or potential improvements to patented solutions. After such awareness activities, inventors inevitably submit more invention disclosures.These patent filing components establish the patent-to-innovation flywheel generating recurring loops of patented inventions for disclosure, filing, publication, grant, inventor recognition, and consequently, more inventing, which contribute to the magic momentum driving a high performance innovation culture.The patent flywheel, however, requires buy-in from senior leadership and other stakeholders to start and keep it spinning. This can be difficult to do, given the cost. AIPLA estimates that the average cost for preparation and filing of one U.S. patent application on software innovations, for example, is about $13,000, while each office action response can cost $3,500. The average cost for one patent starts at about $40,000 USD.A strong patent program needs to get buy-in from the innovators as well. A 2016 survey of patent programs by Lecorpio found an interesting statistic: eighty percent of companies provide some form of inventor incentive. Many of the well-known companies that create our future have them.Apple's program reportedly awards $4,000 USD per filing. In addition to reported financial compensation, Microsoft awards stackable "patent cubes" and Amazon gives its inventors interlocking acrylic puzzle pieces. Other successful patent programs include public acknowledgements or competitive prizes for the most innovative engineer/team. These incentives, while relatively inexpensive, are prized by engineering teams at companies around the world. Companies should embrace these relatively modest investments for creating valuable innovations.It's not enough to simply set up a program. Like the flywheel, it can drive itself if it is set in motion without significant friction within and between the interlocking components.Three critical components for successful, frictionless programs are:While these processes can add significant friction and slow the flywheel, a carefully architected flywheel drives forward momentum. The flywheel framework does not only apply to driving the success of iconic technology companies like Amazon navigating economic crises. The flywheel effect can be found in any organization, department, or team producing repeatable successes arising from compounding steps, actions, and decisions. Tracing around the patent-to-innovation flywheel, the logic is inexorable: each component sets up the next component essentially throwing you around the innovation loop. The magic momentum is seeing the results, feeling the flywheel beginning to build speed. That's when inventors and stakeholders line up to throw their shoulders against the disk and push. And that's what drives a high performing innovation culture.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Christopher Johns +Finnegan, Henderson, Farabow, Garrett & Dunner, LLP +901 New York Avenue, NW +Washington, DC +20001-4413 +UNITED STATES +Tel: 2024084000 +Fax: 2024084400 +E-mail: info@finnegan.com +URL: www.finnegan.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AAPL/2023.02.21/Anti-ESG crusader Ramaswamy launches U.S. presidential bid.txt b/news/AAPL/2023.02.21/Anti-ESG crusader Ramaswamy launches U.S. presidential bid.txt new file mode 100644 index 0000000000000000000000000000000000000000..41b7e8c8b7d4fe3002e18a6a82856dfaae0186f3 --- /dev/null +++ b/news/AAPL/2023.02.21/Anti-ESG crusader Ramaswamy launches U.S. presidential bid.txt @@ -0,0 +1 @@ +Ramaswamy, 37, will step down as executive chairman of Strive Asset Management, which raised more than $650 million from investors in less than six months, to pursue his bid for the presidency in 2024, according to the firm's website."We've celebrated our 'diversity' so much that we forgot all the ways we're really the same as Americans, bound by ideals that united a divided, headstrong group of people 250 years ago," Ramaswamy tweeted on Tuesday following his announcement.A former biotechnology investor and executive, Ramaswamy will pursue the Republican nomination in what is shaping up to be a crowded field. Florida Governor Ron DeSantis, former Vice President Mike Pence and South Carolina Senator Tim Scott are among those considering mounting a challenge to former President Donald Trump, who has already announced his candidacy and is, according to most opinion polls, the frontrunner for the Republican nomination. Former United Nations ambassador Nikki Haley has also announced her candidacy.A political outsider, Ramaswamy rose to prominence in 2021 as the author of "Woke Inc: Inside Corporate America's Social Justice Scam". His new firm bought small stakes in some of the world's biggest companies, including Chevron Corp, BlackRock Inc, Walt Disney Co and Apple Inc, and called on them to drop ESG policies such as advancing diversity or cutting carbon emissions in order to focus on their profits.It is unclear how much impact Strive has had on the companies it pressured. But Ramaswamy's contrarian message made him popular in conservative political circles and a regular guest on cable TV shows. Ramaswamy co-founded Strive with former Anheuser-Busch Inbev SA executive Anson Frericks, who will continue to run the firm. (Reporting by Isla Binnie in New York; Editing by Simon Cameron-Moore)By Isla Binnie \ No newline at end of file diff --git a/news/AAPL/2023.02.21/Biden admin won't veto ITC's Apple Watch import ban ruling.txt b/news/AAPL/2023.02.21/Biden admin won't veto ITC's Apple Watch import ban ruling.txt new file mode 100644 index 0000000000000000000000000000000000000000..4f2ab638919e821b1ded3994a00a3a827f891af5 --- /dev/null +++ b/news/AAPL/2023.02.21/Biden admin won't veto ITC's Apple Watch import ban ruling.txt @@ -0,0 +1 @@ +An AliveCor spokesperson said the office of the U.S. Trade Representative told the company it would not veto the decision. Any ITC ban is still on hold while Apple and AliveCor continue to clash over the patents.Representatives for Apple and the White House did not immediately respond to requests for comment Tuesday. The trade representative's office and the ITC had no comment. The ITC ruled in December that imports of Apple's smartwatches should be banned for infringing AliveCor's patents, but it placed the ban on pause while related proceedings over the patents run their course. The U.S. Patent and Trademark Office found the patents invalid earlier that month, in a ruling that AliveCor has said it will appeal.The White House had 60 days to decide whether to veto the ITC's Dec. 22 ruling based on policy concerns.Presidential vetoes of ITC import bans have historically been rare. However, the Obama administration reversed a ban on some iPhones and iPads in 2013 in a patent fight between Apple and Samsung Electronics Co Ltd, citing its effects on U.S. consumers and economic competition.AliveCor accused Apple of infringing three patents related to its KardiaBand, an Apple Watch accessory that monitors a user's heart rate, detects irregularities and performs an electrocardiogram to identify heart problems like atrial fibrillation.Mountain View, California-based AliveCor told the ITC that Apple copied its technology and drove it out of the market by making Apple's operating system incompatible with the KardiaBand.Apple Watch Series 4, 5, 6, 7, and 8 have ECG technology. Apple introduced its most recent Series 8 last year.AliveCor has separately sued Apple in California federal court for allegedly monopolizing the U.S. market for Apple Watch heart-rate apps, and filed a related patent infringement lawsuit against Apple in Texas federal court.Apple has countersued AliveCor in San Francisco federal court for allegedly infringing its patents.The ITC case is Certain Wearable Electronic Devices With ECG Functionality and Components Thereof, U.S. International Trade Commission, No. 337-TA-1266. (Reporting by Blake Brittain in Washington; Editing by David Bario)By Blake Brittain \ No newline at end of file diff --git a/news/AAPL/2023.02.21/First-generation iPhone sells for more than $63,000.txt b/news/AAPL/2023.02.21/First-generation iPhone sells for more than $63,000.txt new file mode 100644 index 0000000000000000000000000000000000000000..dc845904f0e965cbbe9a345b965e4d4cf92ff13e --- /dev/null +++ b/news/AAPL/2023.02.21/First-generation iPhone sells for more than $63,000.txt @@ -0,0 +1 @@ +A first-generation iPhone, still factory-sealed inside its box, has sold for more than $63,000, according to LCG Auctions.The 2007 8-GB iPhone opened bidding earlier this month at $2,500. The Apple relic was expected to go for $50,000 but sold after 27 bids Sunday for $63,356.40, more than 100 times its original price of $599."The iconic box featured a life-size image of the iPhone with 12 icons on the screen. It quickly became Apple's most successful product, forever changed the smartphone industry and was named Time Magazine Invention of the Year in 2007," said the LCG Auctions listing.The original owner received the iPhone in 2007 as a gift, but never opened it because she had recently purchased a different phone."I didn't want to get rid of my phone, and I figured, 'It's an iPhone, so it will never go out of date,'" said Karen Green who had it appraised in 2019 when it was estimated to be worth $5,000.After hearing about other unopened original iPhones selling for large sums, Green said she decided to sell."I thought to myself, 'Oh my God, I think I have the original,'" she said. "I called my son and I was like 'Go get the phone and make sure it's not opened.'"The first iPhone was introduced by Apple founder Steve Jobs on Jan. 9, 2007, at MacWorld San Francisco. It included 4GB or 8GB of storage, an "innovative touchscreen," a 2-megapixel camera and a web browser, according to the listing on LCG Auctions."Almost 16 years old, the phone presents magnificently, showcasing sharp corners front and back, rich color and 'case fresh' features," the auction listing read."This is the first original iPhone in acceptable condition to hit the auction block since the record-breaking sale in October. A truly remarkable piece with great appeal to both collectors and investors alike," the auction listing added.In October, a similar iPhone sold for $39,000 at auction.Other early Apple tech artifacts have landed impressive prices at auction, including an Apple computer prototype from the 1970s that sold last year for more than $677,000.In 2021, a 1976 Apple-1 personal computer, wrapped in a wooden case and called "Chaffey College Apple-1," sold for $500,000.Copyright 2023 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News \ No newline at end of file diff --git a/news/AAPL/2023.02.21/Foxconn chairman to visit COVID-hit iPhone plant in China -source.txt b/news/AAPL/2023.02.21/Foxconn chairman to visit COVID-hit iPhone plant in China -source.txt new file mode 100644 index 0000000000000000000000000000000000000000..9da084195c98952ecdafc71c3917896d112f2165 --- /dev/null +++ b/news/AAPL/2023.02.21/Foxconn chairman to visit COVID-hit iPhone plant in China -source.txt @@ -0,0 +1,17 @@ +TAIPEI, Feb 21 (Reuters) - Foxconn Chairman Liu +Young-way departed on Tuesday for a four-day inspection of the +company's iPhone plant in Zhengzhou, China, a source with direct +knowledge of the matter said.This will be Liu's first visit to the world's largest Apple +iPhone factory in his role as chairman, and his main +goals are to review conditions after the resumption of +production and to extensively exchange views, the source said.Liu is scheduled to meet with senior government officials +including Lou Yangsheng, the Communist Party chief of Henan +province where Zhengzhou is located, the source said.Foxconn, formally known as Hon Hai Precision +Industry Co, declined to comment. The Henan government did not +immediately respond to a request for comment.The source briefed on the matter declined to be identified +as they were not authorised to speak to the media.The Taiwanese company's iPhone plant was hit late last year +by a COVID-19 outbreak that prompted thousands of worker +departures and unrest, as well as production disruptions.In January, Foxconn said output at its Zhengzhou plant had +"basically returned to normal." +(Reporting by Sarah Wu; Editing by Stephen Coates and Tom +Hogue) \ No newline at end of file diff --git a/news/AAPL/2023.02.21/Futures fall as Home Depot outlook disappoints.txt b/news/AAPL/2023.02.21/Futures fall as Home Depot outlook disappoints.txt new file mode 100644 index 0000000000000000000000000000000000000000..022ca9f3fc3136976c575a96e28aaa99528bb55f --- /dev/null +++ b/news/AAPL/2023.02.21/Futures fall as Home Depot outlook disappoints.txt @@ -0,0 +1 @@ +The No. 1 U.S. home improvement chain dropped 3.8% in premarket trading after its fourth-quarter comparable sales fell short of estimates on higher supply-chain costs and weak demand due to inflation.Investors will be focusing on retail giant Walmart Inc's results due later in the day.At 6:34 a.m. ET, Dow e-minis were down 264 points, or 0.78%, S&P 500 e-minis were down 30.75 points, or 0.75%, and Nasdaq 100 e-minis were down 110.25 points, or 0.89%.The U.S. stock market got a lift this year from its worst annual showing in more than a decade in 2022, as investors were hopeful that the central bank's rate hiking cycle was nearing its end.However, recent economic data points to a resilient economy with inflation far from the Fed's 2% target, raising bets for two or three more 25 basis point hikes and lower chances of rate cuts at year-end.Money market participants see the benchmark level peaking to a 5.3% in July, and staying near those levels throughout the year.Yield on the U.S. benchmark 10-year Treasury note edged higher, in turn pressuring rate-sensitive growth stocks.Apple Inc, Amazon.com Inc, Microsoft Corp and Google-parent Alphabet Inc fell between 1% and 1.4% in premarket trading as yield on the benchmark 10-year Treasury note climbed. Traders find government bonds as a safe alternative to investments in riskier assets like megacap firms.In a bright spot, Meta Platforms Inc added 2.0% after the Facebook parent said it is testing a monthly subscription service called Meta Verified, which will let users verify their accounts using a government ID and get a blue badge. (Reporting by Johann M Cherian and Medha Singh in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/AAPL/2023.02.21/Microsoft's president to push Activision deal at EU hearing; Google, Nvidia also presen...txt b/news/AAPL/2023.02.21/Microsoft's president to push Activision deal at EU hearing; Google, Nvidia also presen...txt new file mode 100644 index 0000000000000000000000000000000000000000..fd74ca7c99b3daa9484f19abd642ab24a72d9102 --- /dev/null +++ b/news/AAPL/2023.02.21/Microsoft's president to push Activision deal at EU hearing; Google, Nvidia also presen...txt @@ -0,0 +1,35 @@ +BRUSSELS, Feb 21 (Reuters) - Microsoft +President Brad Smith on Tuesday will seek to convince EU +antitrust regulators at a closed hearing that the U.S. software +giant's $69 billion bid for "Call of Duty" maker Activision +Blizzard will boost competition.Smith will lead a delegation of 18 senior executives, +including Microsoft Gaming Chief Executive Officer Phil Spencer, +while Activision will be represented by its CEO Robert Kotick, a +European Commission document seen by Reuters showed.The hearing will allow Xbox maker Microsoft to gauge the +mood among senior EU and national competition officials and +European Commission lawyers ahead of the submission of remedies +to address antitrust concerns."I think we will make clear that our acquisition of +Activision Blizzard will bring more games to more people on more +devices and platforms than ever before," Smith told reporters on +his way to the hearing.Microsoft was willing to address concerns with "Call of +Duty" licensing offers similar to the 10-year deal with Nintendo +and regulatory undertakings, Smith added, without +providing any further details.Microsoft announced the Activision acquisition in January +last year to take on leaders Tencent and Sony +, but has run into regulatory headwinds in Europe, +Britain and the United States.Sony, which wants the deal to be blocked, sent its gaming +chief Jim Ryan.Alphabet's Google and chip designer and computing +firm Nvidia Corp, which has a gaming business, also +took part in the hearing."The European Commission asked for our views in the course +of their inquiries into this issue. We will continue to +cooperate in any processes, when requested, to ensure all views +are considered," a Google spokesperson said.Nvidia declined to comment. The European Games Developer +Federation, which has said the deal will allow Microsoft to +challenge Apple, Google and Tencent, is one of the +participants.Video game distributor Valve, video game publisher +Electronic Arts and the German competition watchdog and +its peers in Belgium, the Czech Republic, Finland, France, +Italy, Portugal, Spain and Sweden will also be taking part in +the event. +(Reporting by Foo Yun Chee; Editing by Chris Reese and Shounak +Dasgupta) \ No newline at end of file diff --git a/news/AAPL/2023.02.21/Wall St set for lower open as Walmart, Home Depot forecasts disappoint.txt b/news/AAPL/2023.02.21/Wall St set for lower open as Walmart, Home Depot forecasts disappoint.txt new file mode 100644 index 0000000000000000000000000000000000000000..dbeab3b7aadaec41eca3b38103717d294ba5583a --- /dev/null +++ b/news/AAPL/2023.02.21/Wall St set for lower open as Walmart, Home Depot forecasts disappoint.txt @@ -0,0 +1,41 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Walmart, Home Depot fall as FY profit forecast disappoints*Meta Platforms rises as Facebook tests subscription +service*Futures down: Dow 0.84%, S&P 0.72%, Nasdaq 0.95%Feb 21 (Reuters) - Wall Street's main stock indexes were +set to open lower on Tuesday as retailers Walmart and Home Depot +delivered a double blow to traders returning after a long +weekend amid worries that interest rates will remain higher for +longer.Walmart, the world's largest retailer, shed 3.7% in +premarket trading as it forecast full-year earnings below +estimates and said consumers were likely to continue shopping +for lower-priced items that could pressure its margins."Walmart is a bellweather for how the consumer is doing and +the fact is that they envision that the consumer may be getting +to that point of having to pull back," said Art Hogan, chief +market strategist at B Riley Wealth.Home Depot dropped 4.0% as the home improvement chain +forecast annual profit below estimates due to higher +supply-chain costs and weak demand.Smaller rival Lowe's Cos Inc, which is expected to +post results next week, was down 2.9%.The U.S. stock market got a lift this year from its worst +annual showing in more than a decade in 2022, as investors were +hopeful that the central bank's rate hiking cycle was nearing +its end.However, recent economic data has pointed to a resilient +economy with inflation far from the Fed's 2% target, raising +bets for two or three more 25 basis point hikes amid dwindling +hopes of rate cuts at year-end.Money market participants see the benchmark level peaking to +a 5.3% in July, and staying near those levels throughout the +year.At 7:54 a.m. ET, Dow e-minis were down 285 points, +or 0.84%, S&P 500 e-minis were down 29.5 points, or +0.72%, and Nasdaq 100 e-minis were down 117.25 points, +or 0.95%.Yield on the U.S. benchmark 10-year Treasury note +edged higher, in turn pressuring rate-sensitive +growth stocks.Apple Inc, Amazon.com Inc, Microsoft Corp +and Google-parent Alphabet Inc fell between +1% and 1.5%.Traders find government bonds as a safe alternative to +investments in riskier assets like megacap firms.In a bright spot, Meta Platforms Inc added 1.4% +after the Facebook parent said it is testing a monthly +subscription service called Meta Verified, which will let users +verify their accounts using a government ID and get a blue +badge.Traders are awaiting business activity data for February +at 9:45 a.m. ET. The S&P Global Flash U.S. Composite Output +Index is expected to rise to 47.5 as per a Reuters poll from a +46.8 in the previous month. +(Reporting by Johann M Cherian and Medha Singh in Bengaluru; +Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/AAPL/2023.02.22/Apple's Chinese contract manufacturer to develop AR device - Nikkei.txt b/news/AAPL/2023.02.22/Apple's Chinese contract manufacturer to develop AR device - Nikkei.txt new file mode 100644 index 0000000000000000000000000000000000000000..446778b50e832eb3dcbd5e07e4634444f5d50b8e --- /dev/null +++ b/news/AAPL/2023.02.22/Apple's Chinese contract manufacturer to develop AR device - Nikkei.txt @@ -0,0 +1 @@ +Luxshare has taken over the AR development team in Shanghai, previously owned by Taiwan's Pegatron, the report said, citing people familiar with the matter. (Reporting by Mrinmay Dey in Bengaluru; Editing by Sonia Cheema) \ No newline at end of file diff --git a/news/AAPL/2023.02.22/Foxconn chairman meets senior officials in China's Henan - provincial govt.txt b/news/AAPL/2023.02.22/Foxconn chairman meets senior officials in China's Henan - provincial govt.txt new file mode 100644 index 0000000000000000000000000000000000000000..8dbe2551da45a7808c371232848bdf49e73bf43e --- /dev/null +++ b/news/AAPL/2023.02.22/Foxconn chairman meets senior officials in China's Henan - provincial govt.txt @@ -0,0 +1 @@ +Liu, who departed on Tuesday for a four-day inspection of the plant in the provincial capital of Zhengzhou, has met Lou Yangsheng, the Communist Party chief of Henan province and Wang Kai, provincial governor, the statement said.Henan pledged broad support for businesses and hoped Foxconn would continue to expand in the province, the statement added. (Reporting by Ethan Wang and Meg Shen; Editing by Kirsten Donovan) \ No newline at end of file diff --git a/news/AAPL/2023.02.22/Italy pursues Facebook's Meta for $925 million in sales taxes.txt b/news/AAPL/2023.02.22/Italy pursues Facebook's Meta for $925 million in sales taxes.txt new file mode 100644 index 0000000000000000000000000000000000000000..3300de5a021ff2a924ce54d42fc7d31bda104aca --- /dev/null +++ b/news/AAPL/2023.02.22/Italy pursues Facebook's Meta for $925 million in sales taxes.txt @@ -0,0 +1 @@ +The investigation was opened by Milan magistrates at the request of the European Public Prosecutor's Office (EPPO), which asked the Guardia di Finanza police and the Italian Revenue Agency to checks if there is a case for user registrations to be subject to tax.Neither the EPPO, which is based in Luxembourg, nor Meta were immediately available for comment.News of an administrative tax audit into Meta was first published on Wednesday by Italian daily Il Fatto Quotidiano.The two sources said that investigators believe that free membership on Meta platforms comes in return for access to user data and should be classified as an exchange of services, therefore subject to VAT sales tax. Italy's tax police and revenue agency calculated a model under which Meta would have had to pay around 220 million euros of sales tax in Italy in 2021, according to the sources.The figure for the period back to 2015 was calculated at 870 million euros.One of the sources explained that the most relevant point was the establishment of a link between free access and data transfer as a taxable transaction, which could have repercussions for other multinationals and other countries in Europe.The assessment by the Italian authorities has been brought to Meta's attention and a dialogue was under way between the company and the revenue agency, according to the sources.The company may decide either to accept the results of the investigation and pay the requested amount, or contest it and open an administrative dispute. In recent years, the Milan Prosecutor's Office has opened several tax investigations against multinational tech companies such as Google and Apple. Usually, once an agreement for payment has been reached, the criminal investigation is closed. ($1 = 0.9401 euros) (Additional reporting by Giselda Vagnoni in Rome and Supantha Mukherjee in Stockholm; editing by Keith Weir)By Emilio Parodi \ No newline at end of file diff --git a/news/AAPL/2023.02.23/Australia tells Twitter, Google to explain fight against child abuse.txt b/news/AAPL/2023.02.23/Australia tells Twitter, Google to explain fight against child abuse.txt new file mode 100644 index 0000000000000000000000000000000000000000..f2af2bd14ef4dba7561d40e685a6333743fa47db --- /dev/null +++ b/news/AAPL/2023.02.23/Australia tells Twitter, Google to explain fight against child abuse.txt @@ -0,0 +1 @@ +Sydney, Australia, Feb 23 (EFE).- Social media platforms Twitter and TikTok and search engine Google must explain to Australian authorities their policy and measures to combat content showing child abuse on their platforms.The Australian Electronic Security Commission reported Thursday that it had requested information from these companies, as well as the live streaming platform Twitch and instant messaging platform Discord, which must respond within 35 days.These five companies will also have to explain what they have done to combat the growing problems of sexual extortion and the role of algorithms that recommend sexual content and amplify the spread of this illegal material.If companies fail to comply with the request or exceed the deadline, they could face a daily fine of AUD700,000 ($478,450), the regulator said in a statement."The creation, distribution and display of child sexual abuse online inflicts untold trauma and ruins lives," Electronic Safety Commissioner Julie Inman said.In August last year, the commission sent a similar request for the first time to technology giants Apple, Meta (which includes WhatsApp, Facebook and Instagram), Microsoft and its Skype platform, as well as Snap (Snapchat) and Omegle.After analyzing the companies' responses, the regulatory body harshly criticized Apple and Microsoft in a statement published in December for "not doing enough" to combat sexual exploitation on their platforms despite having the tools for it.With this measure, the entity, which has investigated more than 76,000 cases of online child sexual exploitation since 2017, said it seeks to combat child abusers and pedophilia.The commissioner also said Thursday that Twitter CEO Elon Musk said in November that the fight against child exploitation was a priority of his platform, but since Australia has not received official information on how it is implementing this commitment."We've seen significant job cuts in key trust and safety personnel - the very people whose job it is to protect children - and we want to know how Twitter will address this issue going forward," Inman said.These measures are part of the Online Safety Act, passed in Australia in 2021, which requires technology companies to inform the authorities about the steps they are taking to combat the proliferation of child sexual exploitation material. EFE © 2023 EFE News Services (U.S.) Inc., source EFE Ingles \ No newline at end of file diff --git a/news/AAPL/2023.02.23/EU eyes Big Tech as it seeks feedback on who should pay network costs.txt b/news/AAPL/2023.02.23/EU eyes Big Tech as it seeks feedback on who should pay network costs.txt new file mode 100644 index 0000000000000000000000000000000000000000..985d2e0956dbeaf46e20c6d0fe5873e676560ec0 --- /dev/null +++ b/news/AAPL/2023.02.23/EU eyes Big Tech as it seeks feedback on who should pay network costs.txt @@ -0,0 +1 @@ +The move by the EU executive followed more than two decades of lobbying by Deutsche Telekom, Orange, Telefonica, Telecom Italia and other operators who want leading technology companies to contribute to 5G and broadband roll-out.They said the companies including Amazon and Microsoft account for more than half of data internet traffic. Big Tech in turn calls it an internet tax that will undermine EU network neutrality rules to treat all users equally.EU officials said the 12-week consultation will look at "fair contribution by all digital players". Tech and telecoms companies will be asked to respond to 60 questions. The Commission is likely to propose legislation after the consultation, which will need to be agreed with EU countries and EU lawmakers before it can become law.According to a document seen by Reuters last month, respondents will be asked whether CAPs (content application providers)/LTGs (large traffic generators) should be subject to a mandatory mechanism of direct payments to finance network deployment.The questionnaire also asked whether the EU should create a continental or digital levy or fund. "This consultation is a positive and urgent step towards addressing major imbalances in the internet ecosystem to the benefit of European end-users," telecoms lobbying group ETNO said in a statement.Tech group Computer & Communications Industry Association (CCIA) criticised the proposal. "Europeans already pay telecom operators for internet access, they should not have to pay telcos a second time through pricier streaming and cloud services," Christian Borggreen, CCIA Europe's senior vice president, said in a statement. (Reporting by Foo Yun Chee; Editing by Tomasz Janowski)By Foo Yun Chee \ No newline at end of file diff --git a/news/AAPL/2023.02.23/Energy, materials stocks offer opportunities- CIO.txt b/news/AAPL/2023.02.23/Energy, materials stocks offer opportunities- CIO.txt new file mode 100644 index 0000000000000000000000000000000000000000..e69de29bb2d1d6434b8b29ae775ad8c2e48c5391 diff --git a/news/AAPL/2023.02.23/MarketScreener's World Press Review: February 23.txt b/news/AAPL/2023.02.23/MarketScreener's World Press Review: February 23.txt new file mode 100644 index 0000000000000000000000000000000000000000..d018bef18dd16333bf585978c646e8bc74626af3 --- /dev/null +++ b/news/AAPL/2023.02.23/MarketScreener's World Press Review: February 23.txt @@ -0,0 +1,9 @@ + +Heineken, Bath & Body Works, Stellantis, Apple, Lucid Group, Nvidia, Tesla, Rolls-Royce, BAE Systems, Anglo American, Cineworld, Euronext, Bouygues, Deutsche Telekom, ENI, EssilorLuxottica, Telefónica, and Munich Re feature in this press review! + + + + +  + +  diff --git a/news/AAPL/2023.02.23/S&P, Dow dip as resilient economic data stokes fears of rate hikes.txt b/news/AAPL/2023.02.23/S&P, Dow dip as resilient economic data stokes fears of rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..2f81aa031837d613a02c671ba3b5488801cfda01 --- /dev/null +++ b/news/AAPL/2023.02.23/S&P, Dow dip as resilient economic data stokes fears of rate hikes.txt @@ -0,0 +1,49 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia hits 10-month high on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4*Indexes: Dow down 0.3%, S&P dips 0.02%, Nasdaq up 0.06%Feb 23 (Reuters) -Wall Street was mostly lower in choppy trading on Thursday, +with the S&P 500 on track for a fifth straight daily decline and +the Dow Jones Industrial Average down too, as investors remained +wary of further interest rate hikes due to recent strong U.S. +economic data.On a topsy-turvy day, the tech-heavy Nasdaq was up slightly, +retreating from a session high earlier of more than 1%. Megacap +stocks were mixed, with Tesla Inc up and Amazon.com Inc +lower.Stock markets have been volatile this month, with the S&P +500 shedding more than 4% in the past six sessions, as data +pointing to a strong economy and hawkish commentary by Fed +officials dented appetite for risky assets.The Labor Department said the number of Americans filing new +claims for unemployment benefits unexpectedly fell last week, +reflecting tight labor market conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though rising inventory levels were responsible +for much of the increase.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."Any incremental piece of economic data builds the narrative +of the bears in the market that the rally so far is a false +euphoria, and this is weighing on the market more than the good +news from some of these earnings," said Peter Andersen, founder +of Andersen Capital Management.Analysts polled by Reuters predicted a correction within the +next three months even though they expect the S&P 500 to +climb 5% by year-end.Right now, the S&P is testing both the 50-day moving average +at 3,980 points and the 200-day moving average at 3,940.Nvidia Corp surged 14.2% to the highest in more +than 10 months after the company forecast quarterly sales above +estimates and reported a surge in the use of its chips to power +artificial intelligence services.Other chipmakers also gained, including Broadcom Inc +up 0.4% and Qualcomm Inc rising 0.8%. The +Philadelphia SE Semiconductor index climbed 2.5%.At 2.06 p.m. ET, the Dow Jones Industrial Average +fell 97.71 points, or 0.3%, to 32,947.38, the S&P 500 +lost 0.92 points, or 0.02%, to 3,990.13 and the Nasdaq Composite +added 6.36 points, or 0.06%, to 11,513.43.Eight of the 11 major S&P 500 sectors declined, with +communication services dropping 1.1%, hurt by a 3.8% +fall in Netflix Inc on reports that the streaming +service was cutting subscription prices in 30 countries.The communication services index was on course for its fifth +straight decline, which would be its biggest since another +five-loss streak in October.Energy was one of the few gainers, rising 1.3% +on the back of higher crude prices. Should the index +advance hold, it would halt a losing run at seven, tying its +worst stretch since an eight-session skid in March 2017.Among other stocks, eBay Inc slid 5.8% after +warning of dour demand in the first half of 2023 due to strained +consumer spending in the United States and Europe.Moderna Inc fell 8.4% after the vaccine maker +reaffirmed its annual sales forecast of $5 billion for its +COVID-19 vaccines despite its fourth-quarter sales exceeding +estimates. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Editing by Savio D'Souza, Arun +Koyyur, Anil D'Silva and David Gregorio) \ No newline at end of file diff --git a/news/AAPL/2023.02.23/U.S. likely to cap level of S.Korean chips made in China- U.S. official.txt b/news/AAPL/2023.02.23/U.S. likely to cap level of S.Korean chips made in China- U.S. official.txt new file mode 100644 index 0000000000000000000000000000000000000000..f9cabd0e757a53cd647d6ebe0f8990c77ab59bb2 --- /dev/null +++ b/news/AAPL/2023.02.23/U.S. likely to cap level of S.Korean chips made in China- U.S. official.txt @@ -0,0 +1 @@ +In October, South Korea's Samsung Electronics and SK Hynix, the world's top memory chip makers, received an one-year reprieve from U.S. export restrictions aimed at thwarting Beijing's technological ambitions and blocking its military advances. "What will likely be is a cap on the levels that they can grow to in China," said Alan Estevez, the U.S. Commerce Department's under secretary for industry and security, when asked what would happen after the waiver ended.Estevez who oversees restrictions on tech exports to China made the comments on Thursday during a forum hosted by the Center for Strategic and International Studies, a Washington-based think tank."If you're at whatever layer of NAND, we will stop it somewhere in that range," Estevez said, referring to a flash memory product manufactured by Samsung and SK. He added that the U.S. government was in deep dialogue with the South Korean chipmakers."We work with them to ensure that we aren't going to harm our allies' companies. At the same time, we're going to impede the Chinese capability of building capabilities that are going to threaten us collectively," he said.Samsung Electronics and SK Hynix were not immediately available for comment. Samsung and SK Hynix, which control about half of the global NAND flash memory chip market, have invested heavily in China in recent decades to produce chips that are vital to customers including tech giants Apple, and Amazon.Earlier, an American official acknowledged the existence of a deal with Japan and the Netherlands for those countries to impose new restrictions on exports of chipmaking tools to China. (Reporting by Ju-min Park and Heekyong Yang; Editing by Kim Coghill) \ No newline at end of file diff --git a/news/AAPL/2023.02.23/Wall St ends topsy-turvy day higher, S&P snaps losing streak.txt b/news/AAPL/2023.02.23/Wall St ends topsy-turvy day higher, S&P snaps losing streak.txt new file mode 100644 index 0000000000000000000000000000000000000000..ed6da973efb218d467515d17c24641f2e8da5f5c --- /dev/null +++ b/news/AAPL/2023.02.23/Wall St ends topsy-turvy day higher, S&P snaps losing streak.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia jumps on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4Feb 23 (Reuters) -The main Wall Street benchmarks closed a topsy-turvy +Thursday in positive territory, with the S&P 500 snapping a +four-session losing streak, as investors grappled with how +interest rate policy might affect the U.S. economy.Stock markets have been volatile this year, pulling back in +February after a strong January as investors try to figure out +what the U.S. Federal Reserve will do with interest rates. +Hawkish comments from policymakers have been interspersed with +data pointing to a strong American economy.On Thursday, the Labor Department said the number of +Americans filing new claims for unemployment benefits +unexpectedly fell last week, reflecting tight labor market +conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though rising inventory levels were responsible +for much of the increase.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."If you're a bull, you can pull out plenty of things that +are supportive, and if you're bear there are plenty of things to +point to that are supportive," said Jack Janasiewicz, lead +portfolio strategist at Natixis Investment Managers Solutions."There are so many cross currents that are moving in +very different directions, I think it's very difficult to fall +back on one or two things. That's creating a lot of +hand-wringing uncertainty, and we're range-trading as a result +of it."For part of the day, the S&P was trading below its 50-day +moving average of 3,980 points, before rallying in the +afternoon.Influencing this intraday dip werelarge trades in short-dated derivativesthat piled selling pressure on the market, according to +Nomura strategist Charlie McElligott.Helping provide confidence to buyers was positive +earnings fromNvidia Corp, which surged after forecasting +quarterly sales above estimates and reporting a surge in the use +of its chips to power artificial intelligence services.Other chipmakers also gained, including Broadcom Inc +and Qualcomm Inc. The Philadelphia SE +Semiconductor index climbed.According to preliminary data, the S&P 500 +gained 21.09 points, or 0.53%, to end at 4,012.14 points, +while the Nasdaq Composite gained 83.26 points, or +0.72%, to 11,590.33. The Dow Jones Industrial Average +rose 113.99 points, or 0.34%, to 33,159.08.Many of the 11 major S&P 500 sectors rose. Higher crude +prices pushed energy to be one of the biggest gainers on +the day, and also helped the index halt a losing run at seven. +This tied its worst stretch since an eight-session skid in March +2017.Among the fallers was communication services, +which recorded its fifth straight decline, matching another +five-loss streak in October. It was weighed by Netflix Inc +, which slipped on reports that the streaming service +was cutting subscription prices in 30 countries.Among other stocks, eBay Inc slid after warning of +dour demand in the first half of 2023 due to strained consumer +spending in the United States and Europe.Moderna Inc fell after the vaccine maker reaffirmed +its annual sales forecast of $5 billion for its COVID-19 +vaccines despite its fourth-quarter sales exceeding estimates.However, Bumble Inc jumped. The owner of the +eponymous dating app projected annual revenue growth above +market estimates on optimism over rising paying users. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Editing by Savio D'Souza, Arun +Koyyur, Anil D'Silva and David Gregorio) \ No newline at end of file diff --git a/news/AAPL/2023.02.23/Wall Street falls as rate worries outweigh Nvidia cheer.txt b/news/AAPL/2023.02.23/Wall Street falls as rate worries outweigh Nvidia cheer.txt new file mode 100644 index 0000000000000000000000000000000000000000..c8e353b92d4f8ccc7076d9255f05f3dfa4015d6f --- /dev/null +++ b/news/AAPL/2023.02.23/Wall Street falls as rate worries outweigh Nvidia cheer.txt @@ -0,0 +1,44 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia hits 10-month high on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4*Indexes down: Dow 0.59%, S&P 0.34%, Nasdaq 0.36%Feb 23 (Reuters) - U.S. stock indexes slipped on +Thursday as investors worried that a resilient economy would +give the Federal Reserve more room to raise interest rates, +although a surge in Nvidia shares helped lift some of that +gloom.Stock markets have hit a volatile patch this month, with +the S&P 500 shedding more than 4% in the past six sessions, as +data pointing to a strong economy and hawkish commentary by Fed +officials dent appetite for risky assets.The Labor Department said the number of Americans filing +new claims for unemployment benefits unexpectedly fell last +week, reflecting tight labor market conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though much of the increase in output came from +rising inventory levels at businesses.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."Any incremental piece of economic data builds the +narrative of the bears in the market that the rally so far is a +false euphoria, and this is weighing on the market more than the +good news from some of these earnings," said Peter Andersen, +founder of Andersen Capital Management.Analysts polled by Reuters predict a correction within +the next three months even though they expect the S&P 500 +to climb 5% by year-end.The tech-heavy Nasdaq slipped after rising more than 1% +earlier in session, as megacap stocks including Apple +and Amazon.com Inc fell.Nvidia Corp surged 13.3% to a more than 10-month +high after the company forecast quarterly sales above estimates +and reported a surge in the use of its chips to power artificial +intelligence services.Other chipmakers such as Broadcom Inc, Qualcomm +Inc and Intel Corp rose between 0.2% and 2.6%. +The Philadelphia SE Semiconductor index climbed 1.8%.At 12:34 p.m. ET, the Dow Jones Industrial Average +was down 195.20 points, or 0.59%, at 32,849.89, the S&P 500 +was down 13.44 points, or 0.34%, at 3,977.61, and the +Nasdaq Composite was down 41.84 points, or 0.36%, at +11,465.23.Nine of the 11 major S&P 500 sectors declined, with +communication services dropping 1.5%, hurt by a 5.7% +fall in Netflix Inc on reports that the streaming +service was cutting subscription prices in 30 countries.Among other stocks, eBay Inc slid 7.2% after +warning of dour demand in the first half of 2023 due to strained +consumer spending in the United States and Europe.Moderna Inc fell 8.4% after the vaccine maker +reaffirmed its annual sales forecast of $5 billion for its +COVID-19 vaccines despite its fourth-quarter sales exceeding +estimates.Declining issues outnumbered advancers for a 1.28-to-1 +ratio on the NYSE and a 1.45-to-1 ratio on the Nasdaq.The S&P index recorded seven new 52-week highs and three new +lows, while the Nasdaq recorded 40 new highs and 102 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; +Editing by Savio D'Souza, Arun Koyyur and Anil D'Silva) \ No newline at end of file diff --git a/news/AAPL/2023.02.24/Apple Has Hired Lauren Fry To Help Build A Video Advertising Business For Apple TV+ - T...txt b/news/AAPL/2023.02.24/Apple Has Hired Lauren Fry To Help Build A Video Advertising Business For Apple TV+ - T...txt new file mode 100644 index 0000000000000000000000000000000000000000..4c78577d41600fd90689d6d96057dff276d0a387 --- /dev/null +++ b/news/AAPL/2023.02.24/Apple Has Hired Lauren Fry To Help Build A Video Advertising Business For Apple TV+ - T...txt @@ -0,0 +1,5 @@ +Feb 24 (Reuters) -* APPLE HAS HIRED LAUREN FRY TO HELP BUILD A VIDEO +ADVERTISING +BUSINESS FOR ITS APPLE TV+ STREAMING SERVICE - THE INFORMATION +Source text for Eikon: [https://bit.ly/3Itg094] +Further company coverage: \ No newline at end of file diff --git "a/news/AAPL/2023.02.24/Apple has hired lauren fry to help build a video advertising bus\342\200\246.txt" "b/news/AAPL/2023.02.24/Apple has hired lauren fry to help build a video advertising bus\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..f5c00ce46b27d6d1958d2f41421860ce1c582380 --- /dev/null +++ "b/news/AAPL/2023.02.24/Apple has hired lauren fry to help build a video advertising bus\342\200\246.txt" @@ -0,0 +1 @@ +APPLE HAS HIRED LAUREN FRY TO HELP BUILD A VIDEO ADVERTISING BUSINESS FOR ITS APPLE TV+ STREAMING SERVICE - THE INFORMATION \ No newline at end of file diff --git a/news/AAPL/2023.02.24/EA founder Trip Hawkins dives into Web3 with Barcelona-based startup.txt b/news/AAPL/2023.02.24/EA founder Trip Hawkins dives into Web3 with Barcelona-based startup.txt new file mode 100644 index 0000000000000000000000000000000000000000..0fb67713962ec73dafcd60f2344de803ba44b066 --- /dev/null +++ b/news/AAPL/2023.02.24/EA founder Trip Hawkins dives into Web3 with Barcelona-based startup.txt @@ -0,0 +1 @@ +The founder of Electronic Arts will join as co-founder and security chief of Games for a Living (GFAL), Hawkins told Reuters in an interview.GFAL publishes titles compatible with blockchain technology across consoles, personal computers and smartphones - commonly called Web3.Interest for Web3 gaming has risen over the past year as it is touted to attract more cryptocurrency users. Players can own, sell, and trade in-game goods in such games.Hong Kong-based blockchain gaming developer Animoca Brands, which backs popular NFT game Axie Infinity, raised more than $500 million in 2022."Web3 is the bridge to the metaverse," Hawkins said on Thursday. "And if we're going to make a metaverse, the economy of the metaverse has to be more like the real world."Although there are concerns around security as "cyberwallets" are more prone to hacking, developers are also looking to diversify their platforms amid stunted growth and high app-store fees.Founded in 2021 by former King executive Manel Sort, Barcelona-based GFAL had a post-money valuation of 13.2 million euros ($13.96 million) after its latest funding round last year.($1 = 0.9451 euros) (Reporting by Eva Mathews in Bengaluru; Editing by Varun H K)By Eva Mathews \ No newline at end of file diff --git a/news/AAPL/2023.02.24/Food makers, feeling squeezed, pull the plug on slow-selling products.txt b/news/AAPL/2023.02.24/Food makers, feeling squeezed, pull the plug on slow-selling products.txt new file mode 100644 index 0000000000000000000000000000000000000000..7be13e0488ca229a0bcdb12a3525bb82cd75c10b --- /dev/null +++ b/news/AAPL/2023.02.24/Food makers, feeling squeezed, pull the plug on slow-selling products.txt @@ -0,0 +1 @@ +Many companies started slimming their offerings during the pandemic and are aggressively renewing those efforts, eliminating less-popular items to focus on products on which they can more easily raise prices amid prolonged inflation on food items. Executives at Nestle SA and Unilever Plc said they have seen billions in savings after ditching the laggards in their product portfolios.Conagra recently discontinued a Marie Callender's chocolate chip cookie dough cream pie to make room for what the U.S. food company hopes will be a faster-selling no sugar added apple pie."No one will have a perfect batting average," said Chief Executive Sean Connolly in an interview. "The key is to have more winners than losers."Eliminating less popular products is part of a "decomplexity program" underway at Kraft Heinz, its executives said at the Consumer Analyst Group of New York Conference this week. It recently discontinued Heinz Real Mayonnaise. Mondelez International Inc CEO Dirk Van de Put told Wall Street analysts at the conference that the Oreo maker had clear rules on replacing old products with new ones - "one in, one out." Martin Renaud, a top marketing executive at Mondelez, told Reuters the chocolate manufacturer has "too many flavors.""We sometimes have the tendency to launch a lot of things because they are exciting but we need to be very rigorous," Renaud said. As Mondelez adds products with different price points, it adds complexity, he added. "I am a big advocate of simplicity."Companies cull product offerings to make room for new iterations of their most popular items, such as smaller-sized versions for dollar stores or larger ones for warehouse chains like Costco, said Justin Cook, U.S. consumer products research leader at Deloitte. Cash-strapped shoppers are more frequently looking for bargains at both types of retailers."It's more expensive to make a lower-volume product," Cook said. "If it's not a high-performing item that people absolutely have to have, companies feel it's harder to raise price." Nestle said cutting products saved 1 billion Swiss francs last year ($1.06 billion), while Unilever said the practice saved $2 billion.Retailers are also demanding new, fast-selling products to enhance their own faltering sales. Products most likely to get the boot are those with niche or limited popularity.Heinz Real Mayonnaise has a small share of the global market, according to the research firm Euromonitor. For some consumers, such cuts can be jarring.Vinh Banh said in an email he has long used Heinz Real Mayonnaise for sandwiches and deviled eggs. He was disappointed to discover this month that Kraft had killed the product, which it launched in 2018. Banh, 34, from Garland, Texas, said he is on the hunt for any remaining jars he can find. Kellogg Co ditched its line of Special K protein shakes and Nestle axed Lean Cuisine paninis, frozen Sweet Earth Benevolent Bacon and Sweet Earth Vegan Hot Dogs, spokespeople for the companies confirmed.'PREPPING FOR A SLOWDOWN'In some cases, suppliers are bowing to retailer plans to reduce inventory, hoping that cutting product lines will make stores more efficient and less costly to run and stock. Walmart told Reuters it was seeking more data from suppliers to justify pricing and pushing for more creative ways to defray costs and cushion price hikes to consumers."We recognize that price concerns are more elevated at this point in time, but that's where we can lean in and have data driven negotiations with our suppliers," Chief Financial Officer John David Rainey said. "I have seen a lot of reduction in inventory purchases this year," Kelly Pedersen, a partner at PwC, said at the National Retail Federation conference in January. "Everyone is prepping for a slowdown."Unilever, which makes Magnum and Ben & Jerry's, is slimming the variety of ice cream it sells, finance chief Graeme Pitkethly said this month on an earnings call.The company has for over two years used artificial intelligence in its 'Polaris' program to help manage its assortment. It credited Polaris as it cut its variety of products by about 20%. Unilever also trimmed about 5,000 types of products in the personal care category. Food makers tend to cull products without much fanfare. At the consumer products conference they highlighted new offerings, many of them increasingly popular handheld foods that people can eat while scrolling on phones.That does not mean consumers don't notice when a beloved item disappears from the shelf.John Finn, 35, runs a Twitter page called "Discontinued Foods" with over 23,000 followers. "You'd be shocked by the loyalty and personal connections people have to food products," he said. (Reporting by Richa Naidu and Jessica DiNapoli; additional reporting by Siddharth Cavale; Editing by Bill Berkrot)By Jessica DiNapoli and Richa Naidu \ No newline at end of file diff --git a/news/AAPL/2023.02.24/In Ukraine's Bucha where civilians slain, neighbours united in grief.txt b/news/AAPL/2023.02.24/In Ukraine's Bucha where civilians slain, neighbours united in grief.txt new file mode 100644 index 0000000000000000000000000000000000000000..bc740b04ad0a4ebeadb9c9d9a1a29875aa708fbd --- /dev/null +++ b/news/AAPL/2023.02.24/In Ukraine's Bucha where civilians slain, neighbours united in grief.txt @@ -0,0 +1 @@ +Bucha lies just to the northwest of Kyiv, and was quickly occupied by Russian forces as they invaded from neighbouring Belarus and reached the gates of the capital.They were eventually forced to retreat, and in early April media images of the carnage they left behind shocked the world. The bodies of civilians littered pavements and roads, some with hands tied behind their backs.Ukraine and the West accuse Russia of war crimes in Bucha, an allegation the Kremlin denies. It has claimed images of dead bodies on Bucha's streets were fake, and characterises the war as a special operation to nullify the threat its neighbour poses.Alla Nechyporenko, 50, visited her husband's grave where she kissed his photograph and cried.She told Reuters that he was shot dead at a Russian checkpoint on March 17 when he and their 14-year-old son Yurii had gone to collect humanitarian aid for the family.A soldier also shot Yurii in the arm, Nechyporenko added, but he survived, and managed to reach the kindergarten where she taught."When an innocent person's life is taken before your own eyes, when someone aims at a child, you just ask 'Why? What for? You try to understand what that person is thinking; if that person can actually feel," she said in her home in Bucha."How can this happen in a civilized world? To be shot as you walk down the street?"Her mother-in-law went to recover the body the following day and they buried him temporarily in the back yard.Reuters could not independently verify her account.Nechyporenko recently visited The Hague where she had been invited by a U.S. organisation to describe her ordeal along with others from Ukraine."I just came back from the Netherlands, where people are so carefree. They get pleasure out of life. They are happy while we are in constant fear for our children and our country."In an adjacent section of the same cemetery, where fallen soldiers are buried, Nechyporenko met her neighbour Tetiana Shonia, who was standing next to her son's grave. The friends embraced and wept on the first anniversary of Russia's invasion into Ukraine. "It's so hard to bury your own child," Shonia sobbed. "The thought that he won't come back or talk again is horrible."The son, Oleksii Zavadskyi, was killed in fighting near the eastern Ukrainian town of Bakhmut, scene of some of the fiercest fighting of the war.Earlier in the day, a priest blessed the dead at the graveyard and a small crowd gathered to lay flowers and mourn together.The mayor of Bucha has said more than 400 civilians were killed there by Russian forces, including dozens whose bodies lay untended for weeks on and alongside Yablunska, or Apple Street.Those scenes are now erased from view, and the street looks like any other - a road with grass banks and walled gardens surrounding neat suburban homes. (Additional reporting by Stefaniia Bern; Writing by Mike Collett-White; editing by Diane Craft)By Anna Voitenko and Yurii Muraviov \ No newline at end of file diff --git a/news/AAPL/2023.02.25/Buffett upbeat in annual letter, defends buybacks.txt b/news/AAPL/2023.02.25/Buffett upbeat in annual letter, defends buybacks.txt new file mode 100644 index 0000000000000000000000000000000000000000..cf80da83d6c881ab5b0ed53c8c95b3a5146ac924 --- /dev/null +++ b/news/AAPL/2023.02.25/Buffett upbeat in annual letter, defends buybacks.txt @@ -0,0 +1 @@ +He urged investors to focus on the big picture over the long term, rather than higher inflation and other factors that in 2022 dampened stock prices, though not Berkshire's. The 92-year-old also said America's dynamism has benefited Berkshire - which owns dozens of operating businesses including the car insurer Geico, BNSF railroad and well-known consumer brands like Duracell. Buffett wrote: "I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future." Buffett also defended stock buybacks - a target of politicians in Washington. Berkshire had repurchased $7.9 billion of its own stock in 2022, signaling confidence it was undervalued. Buffett, a Democrat, appeared in his letter to indirectly criticize President Joe Biden who this month urged a quadrupling of a 1% tax on corporate stock buybacks that became law in his Inflation Reduction Act last August.While Biden hasn't demanded an end to buybacks, Buffett said those who claim all repurchases "are harmful to shareholders or to the country, or particularly beneficial to CEOs" are "either an economic illiterate or a silver-tongued demagogue."The letter was accompanied by Berkshire's year-end results, including a record $30.8 billion operating profit. But the company also posted a $22.8 billion annual net loss, compared with an $89.8 billion gain in 2021, as the prices of Apple and many other stocks in its vast investment portfolio declined. In all, Buffett called 2022 a "good year" for Berkshire. \ No newline at end of file diff --git a/news/AAPL/2023.02.25/Buffett's Berkshire has record annual operating profit despite inflation, rate pressure...txt b/news/AAPL/2023.02.25/Buffett's Berkshire has record annual operating profit despite inflation, rate pressure...txt new file mode 100644 index 0000000000000000000000000000000000000000..fb56a5c4302a876c636a9c06c84823779d75b34c --- /dev/null +++ b/news/AAPL/2023.02.25/Buffett's Berkshire has record annual operating profit despite inflation, rate pressure...txt @@ -0,0 +1,59 @@ +Feb 25 (Reuters) - Warren Buffett's Berkshire Hathaway +Inc on Saturday reported its highest-ever annual +operating profit, even as foreign currency losses and rising +interest rates contributed to lower earnings in the fourth +quarter.Buffett called 2022 a "good year" for Berkshire in his +annual shareholder letter, after the conglomerate's dozens of +businesses generated $30.8 billion of profit despite rising +inflation and supply chain disruptions, including from the war +in Ukraine.Berkshire also bulked up its cash hoard, ending the year +with $128.6 billion after selling about $16.3 billion of stocks +in the fourth quarter.The Omaha, Nebraska-based company found more value buying +back its own shares, repurchasing $2.6 billion, and bought back +about $700 million more in the first month-and-a-half of 2023.Though its stock price is down 1.5% this year, lagging +the 3.4% gain in the Standard & Poor's 500, Berkshire +shares outpaced the index by 22 percentage points in 2022, +reflecting their status as a defensive investment in rocky +markets.Berkshire shareholders "trust us to treat their money as we +do our own," Buffett said in his letter. "And that is a promise +we can make."Quarterly operating profit fell 8% to $6.71 billion, or +$4,596 per Class A share, from $7.29 billion.Net income for the quarter fell 54% to $18.16 billion, or +$12,412 per Class A share, from $39.65 billion a year earlier.Buffett considers net results misleading because they +include gains and losses on investments that Berkshire hasn't +sold.GEICO STRUGGLES PERSISTOperating results included about $1.2 billion of currency +losses and a sixth straight underwriting loss at the car insurer +Geico, which has boosted premiums after struggling with accident +claims and properly pricing policies to reflect risk.Berkshire projected that Geico, which shed 7% of its +41,000-person workforce last year, will generate an underwriting +profit in 2023.Results also reflected a 24% jump in profit from energy +and utility operations, as well as Berkshire's share of +Occidental Petroleum Corp's earnings after it built a +21.4% stake in the oil company.Berkshire also owns 20.4% of American Express Co +, which its financial results do not incorporate.Though rising rates helped Berkshire generate more +income from insurance investments, they also hurt its Clayton +Homes unit and namesake real estate brokerage by cutting into +demand for housing construction, purchases and refinancings.In addition, profit at the BNSF railroad fell 13% as the +Federal Reserve's rate-hike campaign began slowing the nation's +economy, and shipping volumes of consumer, industrial and +agricultural products as well as coal all declined."Interest rates were the primary driver in somewhat soft +fourth-quarter results" in an otherwise "pretty strong year" for +Berkshire, Jim Shanahan, an Edward Jones & Co analyst with a +"buy" rating on Berkshire.For all of 2022, Berkshire posted a net loss of $22.82 +billion, though that largely reflected declines in its $308.8 +billion portfolio of common stocks, led by Apple Inc.MORE FLOATBerkshire did spend $11.5 billion in the fourth quarter +to buy the insurance company Alleghany Corp.That purchase helped boost insurance "float," which reflects +premiums collected up front before claims are paid and help fund +growth, 12% last year to $164.1 billion."Buffett takes those insurance premiums and buys good +quality businesses," said Bill Smead, a longtime Berkshire +investor at Smead Capital Management in Phoenix, which invests +$5.5 billion.Thomas Russo, whose Gardner Russo & Quinn in Lancaster, +Pennsylvania invests $8 billion, about 17% of which is in +Berkshire, added: "Buffett often describes float as more +important than cash."Berkshire also spent $8.2 billion on Jan. 31 to boost its +stake in truck stop operator Pilot Travel Centers to 80% from +38.6%.Cathy Seifert, a CFRA Research analyst who rates +Berkshire "hold," said Geico remains a "big pain point" because +of elevated accident losses, and called on it to disclose "more +about what it's doing to rectify a chronic situation." +(Reporting by Jonathan Stempel in New York; Editing by Mark +Potter and Diane Craft) \ No newline at end of file diff --git a/news/AAPL/2023.02.25/Nokia phone maker HMD to set up production in Europe.txt b/news/AAPL/2023.02.25/Nokia phone maker HMD to set up production in Europe.txt new file mode 100644 index 0000000000000000000000000000000000000000..b96f53db3f8eef75da663d345cc1b2fd27aa8652 --- /dev/null +++ b/news/AAPL/2023.02.25/Nokia phone maker HMD to set up production in Europe.txt @@ -0,0 +1 @@ +Europe has no big smartphone manufacturing presence, as all the major companies, including Apple and Samsung, make their phones in Asia to cut costs.Finland-based HMD said in a news release it was working with a number of IT security partners on software modifications and thorough testing as the first stages of manufacturing and testing smartphones in Europe.The company did not disclose where in Europe it plans to setup its factory. The European Union has been encouraging companies to set up production in key sectors, introducing laws and offering subsidies as the bloc did for semiconductors with the European Chips Act."While we can't discuss specific European subsidies, we collaborate with multiple parties in both the public and private sector in Europe to advocate for European manufacturing and R&D," HMD chief marketing officer Lars Silberbauer told Reuters.HMD in 2016 signed an exclusive 10-year licensing agreement with Nokia Oyj, once the world's largest phone maker, to make Nokia-branded smartphones and tablets.Nokia had by that time lost the smartphone war and sold its entire handset business to Microsoft in 2014. It now focuses on telecoms network equipment. HMD used Nokia's remaining phone patents and manufacturing facilities of Taiwan's Foxconn to build a new line of smartphones to compete with other budget Android phone makers.The company also unveiled three smartphones on Saturday - the Nokia G22, Nokia C32 and Nokia C22 - with three-day battery life and said it would begin repairing mobiles in collaboration with repair firm iFixit. (Reporting by Supantha Mukherjee in Barcelona; Editing by William Mallard)By Supantha Mukherjee \ No newline at end of file diff --git a/news/AAPL/2023.02.25/Warren Buffett, in annual letter, stays upbeat and preaches patience.txt b/news/AAPL/2023.02.25/Warren Buffett, in annual letter, stays upbeat and preaches patience.txt new file mode 100644 index 0000000000000000000000000000000000000000..e2c96e91c89d226bb7b451a47197feaebc3d2a41 --- /dev/null +++ b/news/AAPL/2023.02.25/Warren Buffett, in annual letter, stays upbeat and preaches patience.txt @@ -0,0 +1 @@ +In his annual letter to Berkshire shareholders, the 92-year-old Buffett urged investors to focus on the big picture over the long term, rather than higher inflation and other factors that in 2022 dampened stock prices, though not Berkshire's. He also urged Americans not to be convulsed by "self-criticism and self-doubt," saying the country's dynamism has benefited Berkshire in his 58 years running the company from Omaha, Nebraska, and will do so after he passes the reins."We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned," Buffett wrote."I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future."The letter was accompanied by Berkshire's year-end results, which Buffett said reflected a "good" year for Berkshire despite supply chain disruptions and rising inflation, including a record $30.8 billion operating profit.Berkshire owns dozens of operating businesses including the Geico car insurer, BNSF railroad, and many well-known consumer brands such as Dairy Queen and Fruit of the Loom.It also posted a $22.8 billion annual net loss, as the prices of Apple Inc and many other stocks in its vast investment portfolio declined. Buffett downplays net results because they are volatile and affected from accounting rules.Multiple observers said, however, that Buffett appeared cautious, almost apologetic, about his own difficulties in navigating markets, though he is arguably the most famous living American investor."Buffett is very humble in assessing his own investment prowess, and unnecessarily so," said Thomas Russo, a partner at Gardner Russo & Quinn and longtime Berkshire investors. "Investors have profited from him over decades."Anyone who stuck with Berkshire from 1965 to 2022 saw their shares gain 3,787,464% in value. The Standard & Poor's 500 rose 24,708% including dividends over that period.MUNGER 'MAKES ME LAUGH' Buffett said most of his capital allocation decisions have been merely "so-so," and Berkshire's "satisfactory" results over time resulted from only about one dozen "truly good" decisions."'Efficient' markets exist only in textbooks," Buffett said. "In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect."Buffett also said "trust and rules are essential" in running large businesses, even amid the inevitable disappointments.Cathy Seifert, an analyst at CFRA Research, said Buffett took a "subtle swipe" at critics who wished he would disclose more than a few paragraphs about Berkshire's largest businesses, and invest more aggressively."The current market climate has been, for a lack of a better word, very schizophrenic," Seifert said. "Buffett is expressing that frustration."Despite paying $11.5 billion in October for the insurance company Alleghany Corp, Berkshire ended the year with $128.6 billion of cash.It also became a big seller of stocks including Taiwanese semiconductor maker TSMC late in the year, while stepping up repurchases of its own stock.Buffett, a Democrat, appeared to indirectly criticize President Joe Biden, who this month urged a quadrupling of a 1% on corporate stock buybacks he signed into law last year.While Biden didn't call for an end to buybacks, Buffett said those who do are "either an economic illiterate or a silver-tongued demagogue."Buffett also urged investors not to dwell on near-term market conditions - he said Berkshire offers "modest protection from runaway inflation, but this attribute is far from perfect."He also tried to remind them how much Berkshire gives back to the U.S. Treasury, saying it paid $32 billion of corporate taxes in the last decade."At Berkshire we hope and expect to pay much more in taxes during the next decade," Buffett wrote. "We owe the country no less."Buffett also demonstrated effusive affection for his friend and business partner Charlie Munger, the 99-year-old Berkshire vice chairman.He said both plan in early May to attend Berkshire's annual meeting, which is known as "Woodstock for Capitalists" and draws tens of thousands of people to Omaha."I never have a phone call with Charlie without learning something, Buffett said. "And, while he makes me think, he also makes me laugh." (Reporting by Jonathan Stempel in New York; editing by Diane Craft)By Jonathan Stempel \ No newline at end of file diff --git a/news/AAPL/2023.02.27/Apple pays $12.1 million fine for alleged app market abuse in Russia - Antimonopoly Ser...txt b/news/AAPL/2023.02.27/Apple pays $12.1 million fine for alleged app market abuse in Russia - Antimonopoly Ser...txt new file mode 100644 index 0000000000000000000000000000000000000000..1c7b330f202ba5d2ae42d09165a3a49046924fa5 --- /dev/null +++ b/news/AAPL/2023.02.27/Apple pays $12.1 million fine for alleged app market abuse in Russia - Antimonopoly Ser...txt @@ -0,0 +1 @@ +Apple, which did not immediately respond to a request for comment, has previously "respectfully disagreed" with an FAS ruling that Apple's distribution of apps through its iOS operating system gave its own products a competitive advantage.The FAS determined in August 2020 that Apple had abused its dominant position, then issued a directive requiring Apple to remove provisions giving it the right to reject third-party apps from its App Store.That move followed a complaint from cybersecurity company Kaspersky Lab, which had said a new version of its Safe Kids application had been declined by Apple's operating system.In a separate case, the FAS in January said it had fined Apple around $17.4 million for allegedly forcing Russian developers to use Apple's payment services with the iOS App Store.Apple paused all product sales in Russia a year ago, after Moscow despatched its armed forces to Ukraine, and limited its Apple Pay service in Russia. ($1 = 74.7265 roubles) (Reporting by Caleb Davis and Alexander Marrow; Editing by Kevin Liffey) \ No newline at end of file diff --git a/news/AAPL/2023.02.27/Apple supplier Foxlink halts production at Indian facility after fire .txt b/news/AAPL/2023.02.27/Apple supplier Foxlink halts production at Indian facility after fire .txt new file mode 100644 index 0000000000000000000000000000000000000000..9056483bfc45a1967584703a92de2e3f1aed93a0 --- /dev/null +++ b/news/AAPL/2023.02.27/Apple supplier Foxlink halts production at Indian facility after fire .txt @@ -0,0 +1,6 @@ +NEW DELHI, Feb 27 (Reuters) - Apple supplier +Foxlink has halted production at its facility in Southern Indian +state Andhra Pradesh and evacuated 400 of its employees after a +fire on Monday, a local police official told Reuters. +(Reporting by Munsif Vengattil in New Delhi, Editing by Louise +Heavens) \ No newline at end of file diff --git a/news/AAPL/2023.02.27/Apple supplier Foxlink halts production at Indian facility after massive fire.txt b/news/AAPL/2023.02.27/Apple supplier Foxlink halts production at Indian facility after massive fire.txt new file mode 100644 index 0000000000000000000000000000000000000000..1a0b113ef0510b9bb57ef4366b9c2d6121751211 --- /dev/null +++ b/news/AAPL/2023.02.27/Apple supplier Foxlink halts production at Indian facility after massive fire.txt @@ -0,0 +1 @@ +Foxlink makes cables for iPhones. Roughly 50% of the machinery at the facility was damaged and half of the building collapsed, said J Ramanaiah, who leads the Disaster Response and Fire Services Department for Tirupati district in the state, where the incident occurred. Management has estimated damage of 1 billion Indian rupees ($12 million) at the facility, he said, adding there were no casualties. Apple did not immediately respond to a request for comment. An official for Foxlink did not respond to calls.($1 = 82.7320 Indian rupees) (Reporting by Munsif Vengattil in New Delhi, Editing by Louise Heavens and Sharon Singleton)By Munsif Vengattil \ No newline at end of file diff --git a/news/AAPL/2023.02.27/Dutch warn against internet toll as EU looks to Big Tech to fund networks.txt b/news/AAPL/2023.02.27/Dutch warn against internet toll as EU looks to Big Tech to fund networks.txt new file mode 100644 index 0000000000000000000000000000000000000000..f04efaef15d9919c52639bbd2292da9b9acd4933 --- /dev/null +++ b/news/AAPL/2023.02.27/Dutch warn against internet toll as EU looks to Big Tech to fund networks.txt @@ -0,0 +1 @@ +The comments by Dutch Economic Affairs Minister Micky Adriaansens marked the first by an EU country after EU industry chief Thierry Breton kicked off a consultation last Thursday on who should foot the bill to roll out costly 5G and broadband.Deutsche Telekom, Orange, Telefonica, Telecom Italia and other operators have long lobbied for a Big Tech contribution and have found an ally in Breton, a former chief executive at Orange.Among the companies that said an internet tax would undermine EU rules to treat all users equally are Alphabet Inc's Google, Apple Inc, Meta Platforms Inc, Netflix Inc, Amazon.com Inc and Microsoft Corp. These companies account for more than half of data internet traffic, according to telecom operators.Adriaansens said the Dutch government had commissioned a study by economic consultancy Oxera which showed the drawbacks of such a tax."It will penalise the consumers," she told Reuters in an interview, saying that consumers who pay subscription fees to telecoms providers and also subscribe to streaming and video services may see the latter fees go up with Big Tech likely to pass on the internet tax."We should analyse the problem first and what the normal market reaction is to these challenges. The first one is the government in place to facilitate or are there other funds available or is it just the markets' responsibility to take care of this infrastructure?" Adriaansens said."I think that there is this concern that our infrastructure is not able to meet our expectations and our ambitions. So I understand that concern but I don't think that this is the way to go then, so fast," she said.According to Oxera's study, Europe's telecoms providers have not been burdened with higher network costs despite the strong growth in internet data traffic. Oxera also found that these companies' operating profits have been boosted by network modernisation which has led to fewer employees and lower capital costs."Our analysis of the proposals for a levy shows that such a policy cannot robustly be shown to increase economic efficiency, and would potentially bring substantial transaction and set-up costs," the report said. (Reporting by Foo Yun Chee in Brussels; Editing by Matthew Lewis)By Foo Yun Chee \ No newline at end of file diff --git a/news/AAPL/2023.02.27/EU industry chief Breton says not favouring Big Telecoms over Big Tech.txt b/news/AAPL/2023.02.27/EU industry chief Breton says not favouring Big Telecoms over Big Tech.txt new file mode 100644 index 0000000000000000000000000000000000000000..b0f749584b92dcc6c254d151791d9c46ee4a9793 --- /dev/null +++ b/news/AAPL/2023.02.27/EU industry chief Breton says not favouring Big Telecoms over Big Tech.txt @@ -0,0 +1 @@ +The consultation launched last week pits Deutsche Telekom AG, Orange SA, Telefonica SA, Telecom Italia SpA against Alphabet Inc's Google, Apple Inc, Meta Platforms Inc, Netflix Inc, Amazon.com Inc and Microsoft Corp.The European Union official said he did not see the issue as "a binary choice between those who provide networks today and those who feed them with the traffic". "For me the real challenge is to make sure that by 2030 our fellow citizens and business on our streets across the EU - including here in Barcelona - have access to fast, reliable and data-intense Gigabit connectivity," Breton said in the text of a speech to be delivered at the Mobile World Congress (MWC) in the Spanish city. "And for that we need the connectivity networks - highways - of the future. That is the vision. It is not about whether one vested interest should prevail over another," he said.The Dutch government on Monday warned against imposing an internet toll on tech companies, the first EU government to criticise Breton's plan after its Thursday launch, saying such a move may breach net neutrality rules and lead to price hikes for Europeans. Still, Breton took a swipe at the big U.S. tech companies with their large-scale data centres, their cloud-based radio access network (RAN) - the radio element of a cellular system - and their closed ecosystems."We see hyperscalers in cloud and platform services leveraging their market dominance to move into the telco space, using their cash reserves to develop Cloud RAN networks and to provide direct services to business," he said."And interoperability or openness are not currently a strong feature of their business model."He called for a serious discussion of possible hurdles to cross-border telecoms consolidation, siding with operators who say tough EU merger rules impede deals, and also talked up the benefits of an integrated radio spectrum market."I see these two issues as currently holding back our collective potential compared to other continents," Breton said. (Reporting by Foo Yun Chee; editing by Jonathan Oatis)By Foo Yun Chee \ No newline at end of file diff --git a/news/AAPL/2023.02.27/Global markets live: Berkshire Hathaway, Pfizer, Ford, Tesla, Broadc...txt b/news/AAPL/2023.02.27/Global markets live: Berkshire Hathaway, Pfizer, Ford, Tesla, Broadc...txt new file mode 100644 index 0000000000000000000000000000000000000000..972d15fa4ca3db41ce103e2bb0fb7b3a37832e1e --- /dev/null +++ b/news/AAPL/2023.02.27/Global markets live: Berkshire Hathaway, Pfizer, Ford, Tesla, Broadc...txt @@ -0,0 +1,26 @@ + +  +  +Corporate results: + +Berkshire Hathaway: quarterly net income of $6.7 billion is lower than expected, but it posted the largest operating profit in its history last year +PostNL: expects 2023 results to fall far short of expectations. +SES S.A.: the Luxembourg-based company expects 2023 revenues of €1.95-2bn and EBITDA of €1.01-1.05bn. + +In other news: + +Pfizer is in talks to buy Seagen for probably more than $30B, according to the WSJ. +Apple is reportedly replacing Lumentum with Sony for iPhone components. +Pioneer Natural Resources is reportedly eyeing Range Resources, according to Bloomberg. +Cvent Holding reportedly rejected an $8 per share offer from Blackstone. +Getinge under pressure after the prospect of CE mark suspension for two medical kits, for previously known but apparently poorly addressed issues. +Ford on Friday extended by at least a week the suspension of manufacturing of its popular F-150 Lightning electric "pickup", decided after a battery fire in early February. +Telecom Italia is asking KKR to raise its bid for its fixed network. +Ericsson to cut 8,500 jobs worldwide. +Anima Holding completes acquisition of 80% of Castello SGR. +China Renaissance's "missing" boss cooperates with an investigation by authorities, Beijing says. +Stabilus chairman sees room for acquisitions of up to €700m. +Tesla announced that its plant near Berlin, Germany, was producing 4,000 vehicles a week, three weeks ahead of schedule. +Broadcom is expected to receive a warning from the European Commission in the coming weeks about the possible impact of the VMware takeover on competition. + +Today’s main earnings reports: Occidental Petroleum, Zoom Video, Bunzl, Acciona, SES S.A., Saipem, Fluidra, PostNL... All the agenda is here.  diff --git a/news/AAPL/2023.02.27/Qualcomm, Android phone makers developing satellite messaging feature.txt b/news/AAPL/2023.02.27/Qualcomm, Android phone makers developing satellite messaging feature.txt new file mode 100644 index 0000000000000000000000000000000000000000..ff29a7487cf7337115715e834a3f819a0acf440c --- /dev/null +++ b/news/AAPL/2023.02.27/Qualcomm, Android phone makers developing satellite messaging feature.txt @@ -0,0 +1 @@ +The San Diego, California-based company, which is the world's biggest supplier of chips that connect mobile phones to wireless data networks, said it is working with Honor, Lenovo-owned Motorola, Nothing, OPPO, Vivo and Xiaomi Corp to develop the devices.Satellite-based communications can send and receive data in remote or rural regions where other telecommunications networks are not available. Qualcomm announced that it was adding the capabilities to its chips earlier this year.Qualcomm's work with Android device makers is likely to intensify competition between those brands and Apple Inc, which last year unveiled the ability to send emergency satellite messages as one of the flagship features of its newest iPhone lineup. Those new iPhones contain a chip from Qualcomm, though Apple told Reuters that they also contain custom hardware and software that are proprietary to Apple.Qualcomm did not say when the new satellite messaging features from the Android smartphone brands named on Monday would become available. Earlier this year, Qualcomm said that some Android phones would have the features by the second half of this year. (Reporting by Stephen Nellis in San Francisco; Editing by Lisa Shumaker)By Stephen Nellis \ No newline at end of file diff --git a/news/AAPL/2023.02.27/Wall Street climbs after worst weekly selloff of 2023.txt b/news/AAPL/2023.02.27/Wall Street climbs after worst weekly selloff of 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..234ecd0ea310b5a0d76146b8bb594b432e8ccb00 --- /dev/null +++ b/news/AAPL/2023.02.27/Wall Street climbs after worst weekly selloff of 2023.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. Treasury yields slip after rally*Seagen surges on Pfizer-buyout report*Union Pacific jumps as CEO to step down*Indexes up: Dow 0.61%, S&P 0.71%, Nasdaq 0.91%Feb 27 (Reuters) - U.S. stocks climbed on Monday as +investors bought beaten-down shares after the main benchmarks +suffered their worst weekly selloff this year on worries about +tighter monetary policies.The blue-chip Dow erased its gains for the year in +Friday's selloff and the S&P 500 logged its third +straight week of losses on fears of that a strong U.S. economy +and high inflation will give the Fed more room to raise rates.The mood, however, was buoyant on Monday as U.S. Treasury +yields slipped after a strong rally, lifting rate-sensitive +growth stocks such Apple Inc and Amazon.com Inc +more than 1%.Tesla rallied 4% after the electric automaker said +its plant in Brandenburg near Berlin was producing 4,000 cars a +week, three weeks ahead of schedule according to a recent +production plan reviewed by Reuters."We are looking at a relief rally today because the market +was down so much last week," said Sam Stovall, chief investment +strategist at CFRA Research in New York."February historically is the second worst month of the year +for the stock market. So investors are concluding from a +seasonal perspective that maybe stocks could rally at least in +the near term."The yield on two-year notes, the most sensitive +to short-term rate expectations, slipped after touching a near +four-month high earlier in the session.Traders added to their bets of a 50-basis-point (bps) hike +in March after data last week showed the Personal Consumption +Expenditures price index, the metric by which the Fed measures +its 2% inflation target, rose 5.4% last month.Fed fund futures show traders have priced in a third 25 bps +hikes this year and see rates peaking at 5.39% by September.At 9:47 a.m. ET, the Dow Jones Industrial Average was +up 200.27 points, or 0.61%, at 33,017.19, the S&P 500 was +up 28.03 points, or 0.71%, at 3,998.07, and the Nasdaq Composite +was up 104.12 points, or 0.91%, at 11,499.06.Data on Monday showed new orders for key U.S.-made capital +goods increased more than expected in January but orders for +durable goods that are meant to last three years or more fell +more than forecast.After last week's hawkish comments from the Fed +policymakers, investors will turn to Fed Governor Philip +Jefferson's speech later in the day.Warren Buffett's Berkshire Hathaway Inc inched +higher after it reported its highest-ever annual operating +profit, even as foreign currency losses and rising rates led to +lower earnings in the fourth quarter.Seagen Inc surged 12.2% after the Wall Street +Journal reported that Pfizer was in early talks to +acquire the biotech firm. Pfizer's shares slipped 1.1%.U.S. railroad operator Union Pacific jumped 9.6% as +Chief Executive Lance Fritz said he would step down, a move that +follows calls from hedge fund Soroban Capital Partners for his +ouster.Fisker Inc soared 23.7% after the EV maker reported +increased orders for its sports utility vehicle Ocean and +maintained its production forecast for the year.Advancing issues outnumbered decliners by a 4.29-to-1 ratio +on the NYSE and 2.66-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week highs and three new +lows, while the Nasdaq recorded 37 new highs and 28 new lows. +(Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru; +Editing by Saumyadeb Chakrabarty and Arun Koyyur) \ No newline at end of file diff --git a/news/AAPL/2023.02.27/Wall Street set for opening gains after sharp weekly losses.txt b/news/AAPL/2023.02.27/Wall Street set for opening gains after sharp weekly losses.txt new file mode 100644 index 0000000000000000000000000000000000000000..e5f3f7026708be523cc03f06a2641fc74ece2ebe --- /dev/null +++ b/news/AAPL/2023.02.27/Wall Street set for opening gains after sharp weekly losses.txt @@ -0,0 +1,40 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Futures point to opening gains for markets*Seagen surges on Pfizer-buyout report*Union Pacific jumps as CEO to step down*Futures up: Dow 0.72%, S&P 0.86%, Nasdaq 1.12%Feb 27 (Reuters) - U.S. stocks were set for a relief +rally on Monday as investors found value in beaten-down shares +after the main benchmarks suffered their worst weekly selloff +this year on worries about restrictive monetary policies.The blue-chip Dow erased its gains for the year in +Friday's selloff and the S&P 500 logged its third +straight week of losses on fears of that a strong U.S. economy +and high inflation will give the Fed more room to raise rates.Futures pointed to a recovery in sentiment on Monday as U.S. +Treasury yields slipped after a strong rally. Rate-sensitive +growth stocks such as Apple Inc and Amazon.com Inc +climbed in premarket trading.Tesla added 2.8% after the electric automaker said +its plant in Brandenburg near Berlin was producing 4,000 cars a +week, three weeks ahead of schedule according to a recent +production plan reviewed by Reuters."We are looking at a relief rally today because the market +was down so much last week," said Sam Stovall, chief investment +strategist at CFRA Research in New York."February historically is the second worst month of the year +for the stock market. So investors are concluding from a +seasonal perspective that maybe stocks could rally at least in +the near term."The yield on two-year notes, the most +sensitive to short-term rate expectations, slipped after +touching a near four-month high earlier in the session.Traders added to their bets of a 50-basis-point (bps) +hike in March after data last week showed the Personal +Consumption Expenditures price index, the metric by which the +Fed measures its 2% inflation target, rose 5.4% last month.Fed fund futures show traders have priced in a third 25 bps +hikes this year and see rates peaking at 5.38% by September.At 8:52 a.m. ET, Dow e-minis were up 235 points, or +0.72%, S&P 500 e-minis were up 34 points, or 0.86%, and +Nasdaq 100 e-minis were up 134.5 points, or 1.12%.Data on Monday showed new orders for key +U.S.-manufactured capital goods increased more than expected in +January but orders for durable goods fell more than expected.After last week's hawkish comments from the Fed +policymakers, investors will turn to Fed Governor Philip +Jefferson's speech later in the day.Seagen Inc surged 13.2% after the Wall Street +Journal reported that Pfizer was in early talks to +acquire the biotech firm. Pfizer's shares slipped 1.1%.U.S. railroad operator Union Pacific jumped 9.7% as +Chief Executive Lance Fritz said he would step down, a move that +follows calls from hedge fund Soroban Capital Partners for his +ouster.Fisker Inc climbed 9.2% after the EV maker reported +increased orders for its sports utility vehicle Ocean and +maintained its production forecast for the year. +(Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru; +Editing by Saumyadeb Chakrabarty and Arun Koyyur) \ No newline at end of file diff --git "a/news/AAPL/2023.02.28/Apple could potentially face disruptions in supply chain for iph\342\200\246.txt" "b/news/AAPL/2023.02.28/Apple could potentially face disruptions in supply chain for iph\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..4667354ff31f1ece6c7ca0ade84c489fc332afb6 --- /dev/null +++ "b/news/AAPL/2023.02.28/Apple could potentially face disruptions in supply chain for iph\342\200\246.txt" @@ -0,0 +1 @@ +APPLE COULD POTENTIALLY FACE DISRUPTIONS IN SUPPLY CHAIN FOR IPHONES DUE TO FOXLINK INCIDENT-SOURCE \ No newline at end of file diff --git a/news/AAPL/2023.02.28/Apple supplier Foxlink unlikely to resume full India operations for two months-source.txt b/news/AAPL/2023.02.28/Apple supplier Foxlink unlikely to resume full India operations for two months-source.txt new file mode 100644 index 0000000000000000000000000000000000000000..a63100e6be79840ae25438c0a807573f3e64a7c2 --- /dev/null +++ b/news/AAPL/2023.02.28/Apple supplier Foxlink unlikely to resume full India operations for two months-source.txt @@ -0,0 +1 @@ +The facility in India's Andhra Pradesh state, where Foxlink makes charging cables for iPhones, was engulfed in a massive fire on Monday that led part of the building to collapse to the ground. There were no casualties.A source with direct knowledge said that Foxlink operates a total of 10 assembly lines in two separate facilities at the plant in Andhra, of which 4 were completely damaged and unlikely to resume operations for two months. (Reporting by Munsif Vengattil and Aditya Kalra in New Delhi, and Praveen Paramasivam in Tirupati, Editing by Louise Heavens)By Praveen Paramasivam and Munsif Vengattil \ No newline at end of file diff --git "a/news/AAPL/2023.02.28/Apple supplier foxlink will not be able to resume full operation\342\200\246.txt" "b/news/AAPL/2023.02.28/Apple supplier foxlink will not be able to resume full operation\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..669cec9ea7934cbb1690eadc6a6d3a28f58ca21d --- /dev/null +++ "b/news/AAPL/2023.02.28/Apple supplier foxlink will not be able to resume full operation\342\200\246.txt" @@ -0,0 +1 @@ +APPLE SUPPLIER FOXLINK WILL NOT BE ABLE TO RESUME FULL OPERATIONS AT INDIA PLANT FOR TWO MONTHS AFTER FIRE-SOURCE \ No newline at end of file diff --git a/news/AAPL/2023.02.28/Casio teams with Finland's Polar Electro on smartwatch.txt b/news/AAPL/2023.02.28/Casio teams with Finland's Polar Electro on smartwatch.txt new file mode 100644 index 0000000000000000000000000000000000000000..c51eaa1e61d2ba102fcd3db9929cbad5a290fd49 --- /dev/null +++ b/news/AAPL/2023.02.28/Casio teams with Finland's Polar Electro on smartwatch.txt @@ -0,0 +1 @@ +Casio launched what it called its first smartwatch in 2021 using Google's Wear operating system, entering the wearables market dominated by Apple and Samsung.Casio will add Polar's technology to its newest smartwatch, it said. Polar said it would also offer its algorithms to other commercial partners. Financial terms were not disclosed."We have seen a growing global interest from people wanting to better understand their own health and bodies for years now," Takashi Uema, Casio's head of global marketing, said in a statement. (Reporting by Anne Kauranen in Helsinki; editing by Jason Neely) \ No newline at end of file diff --git a/news/AAPL/2023.02.28/EU antitrust regulators narrow case against Apple.txt b/news/AAPL/2023.02.28/EU antitrust regulators narrow case against Apple.txt new file mode 100644 index 0000000000000000000000000000000000000000..cfda63132f31547fd576f20ea413fe77f066aacb --- /dev/null +++ b/news/AAPL/2023.02.28/EU antitrust regulators narrow case against Apple.txt @@ -0,0 +1 @@ +The European Commission, which acts as the executive for the 27-country European Union, dropped an earlier charge that targeted Apple's rules which require developers to use its own in-app payment system. (Reporting by Foo Yun Chee and Sudip Kar-Gupta) \ No newline at end of file diff --git a/news/AAPL/2023.03.01/Activist shareholder wants Al Gore and Tim Cook removed from board.txt b/news/AAPL/2023.03.01/Activist shareholder wants Al Gore and Tim Cook removed from board.txt new file mode 100644 index 0000000000000000000000000000000000000000..fb4b443c1f7109688876caf68212e43444394540 --- /dev/null +++ b/news/AAPL/2023.03.01/Activist shareholder wants Al Gore and Tim Cook removed from board.txt @@ -0,0 +1 @@ + Copyright Emerce The National Legal and Policy Center wants to its power as an Apple shareholder to remove climate activist Al Gore and CEO Tim Cook from Apple's board of directors at the March 10 shareholder meeting.Gore is Apple's longest-serving director and was first elected in 2003. At the time, the late Apple CEO Steve Jobs said that "Al brings an incredible wealth of knowledge and wisdom to Apple.The activist shareholder believes Gore has now been there long enough. 'The only credentials he had, or has ever had, is that he has been a for global warming. That term has been so discredited that it is now called "climate change. And so many of his other prophecies of doom have been proven false.'His green-friendly investment firm Generation Investment Management is also said to have invested billions in dozens of companies found to have actually increased greenhouse gas emissions in recent years.Tim Cook would have to recuse himself because of the risks of doing business in China. NLPC also wants an investigation into recent supply chain problems.© The Content Exchange, source News \ No newline at end of file diff --git "a/news/AAPL/2023.03.01/Apple could potentially face disruptions in supply chain for iph\342\200\246.txt" "b/news/AAPL/2023.03.01/Apple could potentially face disruptions in supply chain for iph\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..4667354ff31f1ece6c7ca0ade84c489fc332afb6 --- /dev/null +++ "b/news/AAPL/2023.03.01/Apple could potentially face disruptions in supply chain for iph\342\200\246.txt" @@ -0,0 +1 @@ +APPLE COULD POTENTIALLY FACE DISRUPTIONS IN SUPPLY CHAIN FOR IPHONES DUE TO FOXLINK INCIDENT-SOURCE \ No newline at end of file diff --git a/news/AAPL/2023.03.01/Apple supplier Foxlink unlikely to resume full India operations for two months-source.txt b/news/AAPL/2023.03.01/Apple supplier Foxlink unlikely to resume full India operations for two months-source.txt new file mode 100644 index 0000000000000000000000000000000000000000..a63100e6be79840ae25438c0a807573f3e64a7c2 --- /dev/null +++ b/news/AAPL/2023.03.01/Apple supplier Foxlink unlikely to resume full India operations for two months-source.txt @@ -0,0 +1 @@ +The facility in India's Andhra Pradesh state, where Foxlink makes charging cables for iPhones, was engulfed in a massive fire on Monday that led part of the building to collapse to the ground. There were no casualties.A source with direct knowledge said that Foxlink operates a total of 10 assembly lines in two separate facilities at the plant in Andhra, of which 4 were completely damaged and unlikely to resume operations for two months. (Reporting by Munsif Vengattil and Aditya Kalra in New Delhi, and Praveen Paramasivam in Tirupati, Editing by Louise Heavens)By Praveen Paramasivam and Munsif Vengattil \ No newline at end of file diff --git "a/news/AAPL/2023.03.01/Apple supplier foxlink will not be able to resume full operation\342\200\246.txt" "b/news/AAPL/2023.03.01/Apple supplier foxlink will not be able to resume full operation\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..669cec9ea7934cbb1690eadc6a6d3a28f58ca21d --- /dev/null +++ "b/news/AAPL/2023.03.01/Apple supplier foxlink will not be able to resume full operation\342\200\246.txt" @@ -0,0 +1 @@ +APPLE SUPPLIER FOXLINK WILL NOT BE ABLE TO RESUME FULL OPERATIONS AT INDIA PLANT FOR TWO MONTHS AFTER FIRE-SOURCE \ No newline at end of file diff --git a/news/AAPL/2023.03.01/Casio teams with Finland's Polar Electro on smartwatch.txt b/news/AAPL/2023.03.01/Casio teams with Finland's Polar Electro on smartwatch.txt new file mode 100644 index 0000000000000000000000000000000000000000..c51eaa1e61d2ba102fcd3db9929cbad5a290fd49 --- /dev/null +++ b/news/AAPL/2023.03.01/Casio teams with Finland's Polar Electro on smartwatch.txt @@ -0,0 +1 @@ +Casio launched what it called its first smartwatch in 2021 using Google's Wear operating system, entering the wearables market dominated by Apple and Samsung.Casio will add Polar's technology to its newest smartwatch, it said. Polar said it would also offer its algorithms to other commercial partners. Financial terms were not disclosed."We have seen a growing global interest from people wanting to better understand their own health and bodies for years now," Takashi Uema, Casio's head of global marketing, said in a statement. (Reporting by Anne Kauranen in Helsinki; editing by Jason Neely) \ No newline at end of file diff --git a/news/AAPL/2023.03.01/EU antitrust regulators narrow case against Apple.txt b/news/AAPL/2023.03.01/EU antitrust regulators narrow case against Apple.txt new file mode 100644 index 0000000000000000000000000000000000000000..cfda63132f31547fd576f20ea413fe77f066aacb --- /dev/null +++ b/news/AAPL/2023.03.01/EU antitrust regulators narrow case against Apple.txt @@ -0,0 +1 @@ +The European Commission, which acts as the executive for the 27-country European Union, dropped an earlier charge that targeted Apple's rules which require developers to use its own in-app payment system. (Reporting by Foo Yun Chee and Sudip Kar-Gupta) \ No newline at end of file diff --git a/news/AAPL/2023.03.01/February ends with uncertainty.txt b/news/AAPL/2023.03.01/February ends with uncertainty.txt new file mode 100644 index 0000000000000000000000000000000000000000..526d08fd35ad9158098694016888ef3960b20012 --- /dev/null +++ b/news/AAPL/2023.03.01/February ends with uncertainty.txt @@ -0,0 +1,40 @@ + +After last week’s big selloff on renewed rate hike fears, investors looked for bargains yesterday and it seems like today might be the same, with the main three Wall Street indices slightly up in pre-market trading. +After Friday’s stronger-than-expected PCE data, investors have started to consider the possibility of a 50 bps rate hike in March, instead of 25, with the odds at about 25%, according to the CME FedWatch tool.  Fed fund futures sees rates peaking at 5.4% by September, up from 4.57% now. + +BofA Global Research even believes the Fed may hike interest rates to nearly 6%: "Aggregate demand needs to weaken significantly for inflation to return to the Fed's target. Further supply-chain normalization and a slowdown in the labor market will help, but only to a degree," said BofA in a note. "Moreover, these processes are taking longer than we and markets were expecting." +Yesterday, the session started well but ended lower. The Nasdaq 100 still held on to 0.7% gains, but the S&P500 and the Dow Jones were limited to 0.2 / 0.3%. This did not prevent Elon Musk from regaining his place as the richest man in the world in the Bloomberg ranking of billionaires. He is credited with $187 billion compared to $185 billion for LVMH head Bernard Arnault. The ranking changes with the rise and fall of LVMH and Tesla, as the competition is left behind: that big loser Jeff Bezos only reaches $117 billion. But enough of the billionaire's ramblings. Wall Street has had a little trouble keeping up, even if the appetite for risky assets has recovered a little. In Europe, the good behavior of indices was also favored by the announcement of a Northern Ireland trading deal between the EU and the UK. +Behind the rise in equity markets, the backdrop has not changed much. U.S. bond yields are still being stretched by uncertainty about the path of rates. All in all, the two statistics released yesterday did not do much to advance the debate. Housing data was surprisingly strong, while the durable goods orders numbers faltered. Experts are still struggling to quantify the impact of the "January effect" on these data. Investors will be closely looking at the Conference Board's U.S. Consumer Confidence Index, released at 10:00 am ET today. There will also be real estate prices and activity indexes. +  +Economic highlights of the day: +France and Spain’s February inflation figures, wholesale inventories, the FHFA house price index, the Chicago PMI,  the Conference Board's consumer confidence index and the Richmond Fed's index are today’s main events. All the agenda is here. This morning, Japan reported a sharper than expected contraction in industrial production of -4.6% in January. +The dollar is flat against the euro at EUR 0.9419 and down 0.4% against the pound at GBP 0.8255. The ounce of gold is down slightly to 1809 dollars. Oil remains firm, with North Sea Brent at USD 83.73 per barrel and U.S. WTI light crude at USD 77.60. The yield on 10-year US debt loses a point to 3.93%. Bitcoin is trading around 23,400 dollars. +  +In corporate news: +* Chevron on Tuesday raised its share buyback target to between $10 billion and $20 billion a year and confirmed its production forecast, up more than 3% a year by 2027. The oil giant was up 1.3% in pre-market trading. +* Target gained more than 2% in premarket trading after posting unexpected sales growth in the last three months of 2022, with the retailer pointing to the effect of promotions in its North American stores. +* Zoom Video was up 6.6% in pre-market trading after it reported a better-than-expected annual profit forecast thanks in part to cost reductions. +* Tesla - Elon Musk, the CEO of Tesla and Twitter, has contacted artificial intelligence researchers in recent weeks to develop an alternative to OpenAI's chatbot ChatGPT, The Information reported Monday, citing sources with direct knowledge of the matter. +* Apple - The U.S. company's Indian supplier, Foxlink, will be unable to fully resume operations for two months following a major fire, raising concerns about supplies to the iPhone maker, a source with direct knowledge of the matter told Reuters on Tuesday. +* Boeing said on Tuesday that its MQ-28 drone, developed in collaboration with the Royal Australian Air Force, could meet the U.S. Air Force's collaborative combat aircraft (CCA) requirements and is designed to fit into a fleet of manned fighter jets, which could include the Lockheed Martin F-35. +* Merck & Co announced the termination of a late-stage clinical trial evaluating a therapy involving its immuno-oncology drug Keytruda after interim data showed that the study's primary endpoints were unlikely to be met. +* Biogen - The U.S. biotech company and its Japanese partner Eisai announced Tuesday that Chinese authorities had granted priority review status to their Alzheimer's disease treatment Lecanemab. +* Goldman Sachs - Chief Executive David Solomon is expected to unveil the U.S. investment bank's medium-term financial targets at an investor day on Tuesday, analysts said. +* Robinhood Markets announced Monday that it has received a subpoena in December from the Securities and Exchange Commission (SEC), the U.S. securities regulator, regarding trading in cryptocurrencies. +* Oaktree Capital plans to raise $10 billion for a new fund to finance major acquisitions in private equity, the Financial Times reported Tuesday, citing a letter to clients of the U.S. asset manager. +  +Analyst recommendations: + +Anywhere Real Estate: Keefe, Bruyette & Woods downgrades to market perform from outperform. PT up 18% to $7. +Axcelis Technologies: Loop Capital Markets initiated coverage with a recommendation of buy. PT set to $150. +Eli Lilly: Societe Generale downgrades to sell from hold. PT down 12% to $278. +Glencore: JPMorgan lowered its price target to 6.30 pounds sterling from 6.40 pounds and kept its overweight rating. +Mondi: J.P. Morgan downgrades from Overweight to Neutral targeting GBp 1606. +Pioneer Natural: Tudor Pickering & Co upgrades to buy from hold. PT up 24% to $243. +Prudential: Credit Suisse increased the price target to 15.40 pounds sterling from 14.50 pounds, with an unchanged outperform rating. +Shell: RBC reduced the price target to 29.00 pounds sterling from 32.00 pounds and maintained its outperform rating. + +  +  +  +  diff --git a/news/AAPL/2023.03.01/Microsoft adds new Bing to Windows computers in effort to roll out AI.txt b/news/AAPL/2023.03.01/Microsoft adds new Bing to Windows computers in effort to roll out AI.txt new file mode 100644 index 0000000000000000000000000000000000000000..14fa5f01384b76cac8fd163f4d070493810e4103 --- /dev/null +++ b/news/AAPL/2023.03.01/Microsoft adds new Bing to Windows computers in effort to roll out AI.txt @@ -0,0 +1 @@ +The Windows 11 update, Microsoft's latest in a flurry of product revamps this month, shows how the Redmond, Washington-based software maker is marching ahead on AI notwithstanding recent scrutiny of its technology.Microsoft's operating system will include the new Bing in desktop computers' search box, which helps half a billion monthly users navigate their files and the internet, the company said. The search engine itself is still in a preview mode, accessible to more than 1 million people in 169 countries with a wait list for others, Microsoft said.The company unveiled its AI-powered chatbot for Bing as it aims to wrest market share from Alphabet Inc's Google, moving faster with ChatGPT-like software for search.Microsoft has been gathering feedback on the new Bing before a wider rollout. The engine's AI chatbot reportedly professed love or made threats to some testers, leading the company to cap long chats it said "provoked" responses it did not intend.In addition to the new Bing, Microsoft's Windows update will include software that can connect to iPhone messages and calls starting with a limited set of users, the company said. (Reporting by Jeffrey Dastin in Palo Alto, Calif.; Editing by Matthew Lewis)By Jeffrey Dastin \ No newline at end of file diff --git a/news/ABNB/2023.01.03/Startups spring from ashes of Big Tech purge.txt b/news/ABNB/2023.01.03/Startups spring from ashes of Big Tech purge.txt new file mode 100644 index 0000000000000000000000000000000000000000..f61a08442946cb20f713f6c53ab89982f1bea873 --- /dev/null +++ b/news/ABNB/2023.01.03/Startups spring from ashes of Big Tech purge.txt @@ -0,0 +1 @@ +Days later he was back working, seeking investment for his own company Nulink, a blockchain-based payment company, and sent pitches to startup accelerator Y Combinator and Andreessen Horowitz's cryptocurrency fund."As counterintuitive as it may sound, this layoff left me in a really good position," the 24-year-old said. "Because I don't have to pay back the sign-on bonus, I get four months of pay, and now I have time to focus on my own project." Szerman is part of a wave of would-be entrepreneurs who are emerging from the ashes of the mass job losses seen in Silicon Valley in the second half of 2022, according to venture capitalists. U.S. tech giants including Meta, Microsoft, Twitter and Snap have purged more than 150,000 staff, according to Layoff.fyi, which tracks technology job losses.While overall venture capital (VC) financing fell 33% globally to about $483 billion in 2022, early-stage funding was robust, with $37.4 billion raised in so-called angel or seed rounds, in line with the record level seen in 2021, according to data from research firm PitchBook.Day One Ventures, an early stage venture fund in San Francisco, launched a new initiative in November to fund startups founded by people who had been laid off from their tech jobs, touting the slogan "Funded, not Fired". The program aims to cut 20 checks for $100,000 by the end of 2022. Day One said it had received over 1,000 applications, most of them from people who were cut loose by Meta, Stripe and Twitter."We're investing $2 million in 20 companies - if we just find one unicorn it almost returns the fund, which I think is a really unique opportunity for us as fund managers," said Masha Bucher, co-founder at Day One Ventures. "Looking at the last economic cycle, companies like Stripe, Airbnb, Dropbox have been created in crisis." HOT: GAMING AND AI   Also in November, multi-stage fund Index Ventures, which has bankrolled Facebook, Etsy and Skype, launched its second Origins fund, which will invest $300 million in early-stage startups.Silicon Valley investor U.S. Venture Partners and Austrian VC firm Speedinvest have meanwhile earmarked a similar amount for newly founded companies.Investors highlighted gaming and artificial intelligence among hot areas of interest."With advances in game design, new innovations like cloud gaming, and the emergence of social networking in this sphere, gaming has really transcended into mainstream culture," said Sofia Dolfe, partner at Index Ventures. "In every period of economic uncertainty, there is opportunity - to reset, re-prioritize and re-focus energy and resources."DOTCOM BUBBLE 2.0    Szerman said his project was rejected by Y Combinator, while he hasn't heard back from Andreessen Horowitz yet, though he added that other early-stage venture capitalists had expressed interest."I told the investors we'll chat in two or three months," he added. "I'll focus on scaling the system now." Some investors compared the 2022 downturn to the dotcom crash of the early 2000s, when dozens of overvalued startups went bust, flooding the market with talent and helping to spark a wave of new companies such as Facebook and YouTube."Many great companies have been created in relatively dark times," said Harry Nelis, managing partner at investment firm Accel, who sees a new generation of risk takers emerge among the swathe of people left unemployed. Some industry players say former Big Tech employees are uniquely placed to start their own companies, having seen first-hand how some of the biggest firms in the world operate, and enjoying ongoing access to their network of highly skilled colleagues.One former Googler has sought to help others like him looking for life after technology giants. In 2015, Christopher Fong, who spent almost a decade working for the tech titan in California, launched Xoogler, a project designed to help former employees hoping to start their own companies. Since then, the group's membership has since swelled to more than 11,000.Fong told Reuters that experience in Big Tech firm gave founders a "strong brand that can be leveraged to meet investors, potential customers, and recruit team members". (Reporting by Martin Coulter in London, Supantha Mukherjee in Stockholm and Krystal Hu in New York; Editing by Pravin Char)By Supantha Mukherjee, Martin Coulter and Krystal Hu \ No newline at end of file diff --git "a/news/ABNB/2023.01.12/Airbnb \342\200\223 Not For Me.txt" "b/news/ABNB/2023.01.12/Airbnb \342\200\223 Not For Me.txt" new file mode 100644 index 0000000000000000000000000000000000000000..cffbe126493517d9ab4e138a174cbc884a8e72d9 --- /dev/null +++ "b/news/ABNB/2023.01.12/Airbnb \342\200\223 Not For Me.txt" @@ -0,0 +1,9 @@ +New York City's new short-term registration law is set to take effect on January 9, 2023, as the city takes one more swipe at the ever-growing short-term rental market. Companies like Airbnb and Vrbo, which operate platforms for short-term rentals, are calling this latest salvo of regulations "draconian," but the City is pressing ahead.The regulations will require rental hosts in New York City to register with the city and prevent platforms from processing transactions unless their registration forms match the City's database.This article will not focus on the registration requirements, the process for hosts and hosting platforms, or the penalties for non-compliance (which take effect on May 9, 2023). Rather, there is a very interesting opportunity for cooperatives and condominiums to completely prohibit short-term rentals in their buildings.As part of the New York City registration process, the host applicant must certify that it is not prohibited by the terms of a lease or other agreement from applying for a short-term rental registration for the dwelling unit and from subsequently acting as host for short-term rentals within such dwelling unit. A co-op's proprietary lease and a condominium's By-Laws may not expressly prohibit tenant-shareholders/unit owners from applying for short-term rental registration status, a concept not likely to have been contemplated by these documents when originally drafted. However, adopting a simple amendment to the house rules prohibiting short-term rental registrations and short-term rentals may do the trick.More favorably, the new requirements explicitly state that no short-term rental registration shall be issued or renewed for a dwelling unit in a building included on the prohibited buildings list.The New York City Office of Special Enforcement (the "OSE") is now tasked with creating and maintaining a prohibited buildings list, which shall contain the address of each building whose owner, including any applicable board of a cooperative or condominium corporation, has notified the OSE that no short-term rental of any dwelling unit within the building is permitted.To be added to such prohibited buildings list, a building owner, including any applicable board of a cooperative corporation or condominium, or the manager or agent of such building or board, must submit an online application to the administering agency. The applicant must provide:The applicant must certify that leases and other occupancy agreements for dwelling units within the building prohibit short-term rentals. The OSE will send a letter to the owner of record whenever it receives an application for inclusion on the prohibited buildings list.The OSE will publish the list of prohibited buildings on the city's open data website. An application to remove a building from the prohibited buildings list may also be made by using an online application accessible from the OSE's website.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Scott M. Smiler +Gallet Dreyer & Berkey +845 Third Avenue +5th Floor +New York +NY 10022-6601 +UNITED STATES +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/ABNB/2023.01.19/Airbnb : Community Fund grants support sustainability & conservation programs.txt b/news/ABNB/2023.01.19/Airbnb : Community Fund grants support sustainability & conservation programs.txt new file mode 100644 index 0000000000000000000000000000000000000000..ba3680c6e9ddd9fafe530bdd467eace24cb0f4a2 --- /dev/null +++ b/news/ABNB/2023.01.19/Airbnb : Community Fund grants support sustainability & conservation programs.txt @@ -0,0 +1,150 @@ + + + + When Hosts on Airbnb open their doors to travelers from around the world, they welcome their guests into their communities, too. As part of our commitment to share Airbnb's success with our stakeholders, we want to give back to the neighborhoods and towns our Hosts call home. In 2020, Airbnb created the Airbnb Community Fund to distribute $100 million USD through 2030 to help strengthen communities around the world. + + + Today, we are excited to announce the 2022 Airbnb Community Fund grant recipients. In 2022, the program's primary focus was sustainability, with more than $6 million in grants awarded to over 20 organizations working to protect our planet and promote environmental sustainability and conservation in 19 countries across six continents. As in 2021, our Host Advisory Board provided important feedback to inform this process. + + + The 2022 grant recipients include organizations around the world such as: Leave No Trace in the US, WWF-Brazil Coral Reef Restoration Project in Brazil, EcoExploratorio in Puerto Rico, Retake Roma in Italy, Lapalala Wilderness School in South Africa, The Association of National Trusts in Japan, the National Trust of Korea in Korea, and Bush Heritage in Australia. + + + In 2022, the Airbnb Community Fund also supported sustainability education and awareness programs, as well as organizations performing home energy audits to help Airbnb Hosts across the UK and France improve the energy efficiency of their homes. The recipients were Effy and Essentiem in France, and Energy Savings Trust and The Energy Saving Trust Foundation in the UK. In addition, Airbnb also directed Community Fund grants to additional organizations that we believe play an important role in communities around the world. + + + During 2021, the Community Fund's inaugural year, Airbnb distributed grants to more than 150 organizations focused on COVID-19 relief, economic empowerment, and education as they worked to meet the unprecedented needs brought about by the pandemic. Many of these organizations have since shared how the funding impacted their communities over the last year. Among the impacts these organizations shared, Rescuing Leftover Cuisine, Inc. provided 410,000 meals for Americans living in food insecurity and the Irish Hospice Foundation developed bereavement education programs for frontline workers. + + + Many of the 2022 grant recipients shared with us how this funding will impact their organizations: + + + "As a 501 (c) 3 non-profit, EcoExploratorio relies on the generous donations from individuals and corporate donors, in-kind donations, and volunteers to help us provide exhibits and programming that sparks imagination in the fields of science, technology, engineering, and math. Thanks to the support of friends like Airbnb, EcoExploratorio has become a leader in Puerto Rico as an informal STEM Education center, funded by philanthropy partners since 2014 impacting thousands of students, teachers, and the general public annually from our current space in Plaza Las Américas." + + +EcoExploratorio, Puerto Rico + + + "The Endangered Wildlife Trust is committed to conserving threatened species and ecosystems in Southern Africa to the benefit of all. To achieve this, we focus on three main strategic imperatives: Saving Species, Conserving Habitats, and Benefiting People. The EWT would like to express a heartfelt thank you to Airbnb for their incredible generosity and support. Their support will assist us in our efforts to ensure our children and our children's children enjoy the magnificent diversity that Africa has to offer. This Airbnb Community Fund grant will go towards what the EWT does best, Conservation In Action." + + +Endangered Wildlife Trust, South Africa + + + "Australia faces a biodiversity challenge with the highest extinction rate in the developed world. This generous grant funded by Airbnb, Inc. supports critical groundwork to restore Australia's magnificent landscapes to good health, giving its irreplaceable native species an opportunity to recover and thrive. The grant will enhance the vital partnerships that Friends of the Australian Bush Heritage Fund supports with Aboriginal groups through charitable organizations working to conserve Australia's unique biodiversity and manage land of substantial conservation value." + + +Friends of the Australian Bush Heritage Fund, United States on behalf of Australia + + + "Loss and degradation of forests and wetlands is impacting the planet and threatening livelihood and welfare of Indigenous Peoples and local communities (IPLCs). At the Global Environment Centre, we believe empowering IPLCs to protect and restore ecosystems is key to addressing the global crises related to climate change and biodiversity loss. Over the past 25 years, we have supported the development and activities of nearly 50 community groups and organizations across Malaysia. The funding from Airbnb will allow us to build a national platform to bring key groups together to learn from and work with one another. We will also support targeted action with these groups at 10 different sites for forest protection and rehabilitation, outreach, conservation advocacy, and environmental education." + + +Global Environment Centre, Malaysia + + + "The Global Tourism Resilience and Crisis Management Centre (GTRCMC) is honored to receive this timely grant as we undertake our vital research project that will help raise awareness among Caribbean Micro, Small and Medium Sized Tourism Entrepreneurs (MSMEs) about the importance of climate-responsible practices in their operations, as well as encouraging them to take urgent action to combat climate change. We are excited to partner with Airbnb whose climate action corporate sustainability framework (which is committed to making Airbnb a Net Zero company by 2030), is in sync with one of the GTRCMC's mandates; that is, building tourism resilience capacities for climate action and for global sustainability." + + +Global Tourism Resilience Crisis Management Centre, Jamaica + + + "The Airbnb Community Fund will support Leave No Trace's new Spotlights Program. Leave No Trace Spotlights are community sustainability initiatives that provide volunteer service projects, hands-on trainings and outreach-all resulting in healthier parks, trails and communities. Together, Leave No Trace and Airbnb will impact more than 20 high-profile Host communities in the United States this year to protect the outdoor areas those communities rely on. This important alliance with Airbnb significantly expands our work, ensuring that even more people and places are armed with Leave No Trace education, the most effective way to preserve the outdoor places we all love." + + +Leave No Trace, United States + + + "Lewa Wildlife Conservancy is honored to be the recipient of a significant grant award from the Airbnb Community Fund that will have an impact on the whole of Lewa's model, a 360-degree approach to conservation benefiting wildlife, ecosystems, and people. Through Lewa 360, the Conservancy will utilize Airbnb funding where it is needed most and to deliver five key programs: Conservation and Security, Healthcare, Education, Women's Microenterprise, and Sustainable Agriculture. On behalf of the Conservancy and its local and international partners, thank you for sharing our vision of a future where people across Kenya and the world value, protect, and benefit from wildlife and healthy ecosystems." + + +Lewa Wildlife Conservancy, Kenya + + + "The National Trust of Korea (NTK) is grateful to receive an Airbnb Community Fund grant in support of our efforts to help Korea's future generations inherit and enjoy our country's beautiful and sustainable natural heritage. With the grant, we are planning to improve the 'Donggang Jejang Village' with underwater purification activities using boats that would allow us to remove unseen garbage in the water. In addition, we plan to conduct a pilot project that replaces the current traditional farming method that depends on equipment made of plastic, agricultural pesticides, and chemicals with an eco-friendly farming method for local farmers." + + +National Trust of Korea, Korea + + + "The Nebenan Foundation is very happy to receive the generous support from the Airbnb Community Fund and we thank you very much for your trust in our organization! We can now set up our "Klimaschutz nebenan" (Climate Protection Next Door) competition to be even larger in 2023! This means reaching out to even more neighbors, and activating more community-led climate protection initiatives all over Germany's neighborhoods. What a great outlook for 2023! That's encouraging!" + + +nebenan.de Foundation, Germany + + + "As Plastic Free we are glad to receive Airbnb funds in order to continue our meaningful projects. The funds will support our volunteers during the cleanup actions, the classes to raise awareness in schools and the rescue of sea turtles that are treated in our recovery center, which will be able to find the most suitable meals and treatments before being released back into the sea. Moreover, we will improve our work with municipalities signing more collaboration pacts for the sake of the environment and to simplify local projects supported by institutions. Additionally, we will develop our newborn projects focused on collaboration with sports associations, fight against the abandonment of cigarette butts and move the first steps towards Europe and the rest of the world." + + +Plastic Free Onlus, Italy + + + "Retake and Airbnb Italy will join forces in five wonderful cities. From March to June, Retakers and Airbnb Hosts will jointly organize four clean up and speak up events in Milan, Venice, Naples and Brindisi, involving Airbnb Guests and combining culture and beauty, with the pleasure of taking care of the places where we live. Starting September, we will requalify a portion of the confluence between Tiber and Aniene rivers in Rome to contribute to the widespread museum in that area. Together, we can make a difference!" + + +Retake Roma, Italy + + + "Rezero seeks new solutions to extend the life of products and materials by facilitating their reuse, and to eliminate the generation of household waste. We create and share knowledge, and promote innovative ideas, legislative initiatives, public plans, and projects so that companies, public administrations, and citizens can have the opportunity to enjoy a model of production and consumption towards Zero Waste, without toxic materials or products that are left without use. The grant from Airbnb will mainly be used for responsible tourism and consumption projects, and will support Rezero's activity as we continue working towards a Zero Waste society." + + +Rezero, Spain + + + "Surfrider Foundation Canada is so grateful for this generous donation from Airbnb. These funds directly support our important work in communities across Canada to reduce plastic pollution, protect the ocean, preserve public beach access and ensure clean water so that all people can enjoy the coast." + + +Surfrider Foundation Canada, Canada + + + "The Association of National Trusts in Japan is involved in land trust activities in the aim of protecting important nature from development projects by acquiring land, and preserving places where many wildlife species can live in peace. With the Airbnb Community Fund grant, we will further purchase forests and wetlands that are home to precious wildlife, raise awareness of National Trust activities, make policy recommendations to the national and local governments, and conduct research and surveys. The grant will also encourage the 30by30 initiative for biodiversity conservation, and further it will help hand over important natural capital for future generations." + + +The Association of National Trusts in Japan, Japan + + + "With the Airbnb Community Fund grant, The Lapalala Wilderness School will continue the essential work we do to help our children and young adults discover the value of biodiversity in our natural world and our place within it, as well as identify and nurture Africa's future conservation champions. Environmental Education courses are vitally important and teach children that the health of people is intimately connected with the health of the environment. The grant will assist us in setting up gardens in our local communities and also create a space to educate the public on climate change and biodiversity education as it is a core pillar of our work." + + +The Lapalala Wilderness School, South Africa + + + "Tusk is incredibly grateful for the generous support from the Airbnb Community Fund. This funding will make a significant contribution to community-led conservation in Africa. Specifically, the grant will support the protection of endangered forest habitats in northwestern Madagascar through empowering local communities and sustainable livelihood activities. It will also help to fund Tusk's flagship Pan African Conservation Education (PACE) program, which works with schools, education centers and community groups in more than 30 African countries." + + +Tusk, United Kingdomin support of African countries + + + "UNESCO Waterberg Biosphere would like to thank Airbnb for aiding our critical conservation efforts and being part of this journey towards Protecting Forever, Together. This Community Fund grant will be used in scaling up our communication with our stakeholders and partners, our environmental education/awareness programmes as well as supporting food gardens in rural schools. Working together with like-minded organizations helps us ensure that more people are included, thus working towards the overarching goal of leaving no one behind if we are to make a meaningful impact." + + +UNESCO Waterberg Biosphere, South Africa + + + "WWF-Brazil is excited to be part of this great effort led by the Airbnb Community Fund. These grants will help change the critical scenario for Brazilian Coral Reefs, which already suffer from climate change. Together, WWF-Brazil and Airbnb Community Fund partnership will support making oceans healthier by promoting coral reef restoration as an important agenda for climate change adaptation in the Brazilian Northeast Coast." + + +WWF-Brazil + + + To learn more about the Community Fund and the grant recipients, please visit the Airbnb Community Fund page. + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Airbnb Inc. published this content on 19 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2023 14:10:01 UTC. + + diff --git a/news/ABNB/2023.01.26/FTX opposes new bankruptcy investigation as it probes Bankman-Fried connections.txt b/news/ABNB/2023.01.26/FTX opposes new bankruptcy investigation as it probes Bankman-Fried connections.txt new file mode 100644 index 0000000000000000000000000000000000000000..77ceaa596eae39e6691ec6c87862d175be2c7c80 --- /dev/null +++ b/news/ABNB/2023.01.26/FTX opposes new bankruptcy investigation as it probes Bankman-Fried connections.txt @@ -0,0 +1,59 @@ +(Adds FTX statement on creditor list, statement from Mind the +Gap)ZURICH/LONDON, Jan 26 (Reuters) - FTX has objected to a +U.S. Department of Justice request for an independent +investigation into the once-prominent crypto exchange's +collapse, saying it is already conducting a wide-ranging probe +that includes family members of FTX founder Sam Bankman-Fried.FTX said in a court filing in Wilmington, Delaware, late on +Wednesday that the DOJ's proposed review would only add cost and +delay to its bankruptcy case. FTX acknowledged "fraud, +dishonesty, incompetence, misconduct, mismanagement, and +irregularity" in its past conduct, but said that its previous +wrongdoing is already being probed by the company's new +management, its creditors and law enforcement agencies.As part of its own investigation, FTX asked U.S. Bankruptcy +Judge John Dorsey, who is overseeing its Chapter 11 proceedings, +to help it secure documents from Bankman-Fried, members of his +family and other insiders with information about FTX +transactions that used "misappropriated and stolen" funds. These +transactions, it said, include a $16.7 million Bahamian real +estate purchase under the name of Bankman-Fried's parents, +Joseph Bankman and Barbara Fried.FTX is also seeking information about political donations +connected to Bankman-Fried, asking wide-ranging questions about +Mind the Gap, a political action committee founded by Barbara +Fried, and Guarding Against Pandemics, an advocacy organization +founded by Sam Bankman-Fried and his brother, Gabriel +Bankman-Fried. FTX said Guarding Against Pandemics' +multimillion-dollar Washington, D.C., headquarters was purchased +with misappropriated funds.Bankman-Fried and members of his family could not +immediately be reached for comment.A spokesperson for Mind the Gap said it did not receive +direct contributions from Sam Bankman-Fried, although +Bankman-Fried made donations to some political causes it +recommended to its donor network.FTX, once among the world's top crypto exchanges, shook the +sector in November by filing for bankruptcy, leaving an +estimated 9 million customers and other investors facing total +losses in the billions of dollars.The U.S. Department of Justice's bankruptcy watchdog has +called for an independent investigation into its collapse, a +request that received backing from a bipartisan group of U.S. +senators.FTX’s new CEO, John Ray, who worked with court-appointed +examiners while leading Enron Corp and Residential Capital +through bankruptcy, is prepared to testify that examiners in +those two cases cost a combined $150 million and provided +"minimal" benefits to creditors, FTX said.FTX's official committee of creditors joined the company in +opposing the appointment of an examiner.FTX also on Wednesday night filed a new list of creditors in +bankruptcy court, which included financial watchdogs and +government agencies from the United States, Japan and +Switzerland, as well as companies including Airbnb Inc +and crypto giant Binance.Airbnb and Binance did not immediately respond to a request +for comment.The U.S. Treasury's Financial Crimes Enforcement Network +(FinCEN) and U.S. Internal Revenue Service (IRS) are among those +on the new list of creditors. It did not give details of the +nature or amount of monies owed.FTX said on Thursday that the list was meant to ensure the +broadest possible outreach to potential stakeholders in its +bankruptcy, and that FTX does not necessarily owe money to each +name on the creditor list.FTX said last year it owed its 50 biggest creditors nearly +$3.1 billion. Dorsey in January allowed FTX to keep secret the +names of 9 million of its individual customers for three months.Sam Bankman-Fried, who has been accused of stealing billions +of dollars from FTX customers to pay debts incurred by his +crypto-focused hedge fund, has pleaded not guilty to fraud +charges. He is scheduled to face trial in October.(Reporting by Noele Illien in Zurich, Tom Wilson in London and +Dietrich Knauth in New York +Editing by Kirsten Donovan, Alexia Garamfalvi and Matthew Lewis) \ No newline at end of file diff --git a/news/ABNB/2023.01.26/U.S. Treasury, financial watchdogs, companies among FTX creditors, filing shows.txt b/news/ABNB/2023.01.26/U.S. Treasury, financial watchdogs, companies among FTX creditors, filing shows.txt new file mode 100644 index 0000000000000000000000000000000000000000..85c9c5341235b5280181783b2cfeeb16801101a1 --- /dev/null +++ b/news/ABNB/2023.01.26/U.S. Treasury, financial watchdogs, companies among FTX creditors, filing shows.txt @@ -0,0 +1 @@ +FTX, once among the world's top crypto exchanges, shook the sector in November by filing for bankruptcy, leaving an estimated 1 million customers and other investors facing total losses in the billions of dollars.The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) and U.S. Internal Revenue Service (IRS) are among those owed money by FTX, the list of creditors filed in a U.S. court on Wednesday showed. It did not give details of the nature or amount of monies owed. Swiss markets watchdog FINMA and Japan's FSA regulator were also listed in the 116-page document. A FINMA spokesperson said it could not explain why it had appeared on the list of creditors. The watchdog was not a client of FTX and had not acted on its platforms, they added.FinCEN and the IRS declined to comment. Japan's FSA, contacted outside business hours, did not immediately respond to a request for comment.A host of companies from traditional industries and the crypto sector, including Airbnb Inc and Binance, the world's largest crypto exchange and once an arch-rival of FTX, were also cited as creditors. Airbnb and Binance did not immediately respond to a request for comment. FTX said last year it owed its 50 biggest creditors nearly $3.1 billion. U.S. Bankruptcy Judge John Dorsey in January allowed FTX to keep secret the names of 9 million of its individual customers for three months.FTX founder Sam Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, has pleaded not guilty to fraud charges. He is scheduled to face trial in October. (Reporting by Noele Illien in Zurich and Tom Wilson in London; editing by John Stonestreet, Kirsten Donovan)By Noele Illien and Tom Wilson \ No newline at end of file diff --git a/news/ABNB/2023.01.27/Obama Foundation - Applications open for Voyager Scholarship for Public Service.txt b/news/ABNB/2023.01.27/Obama Foundation - Applications open for Voyager Scholarship for Public Service.txt new file mode 100644 index 0000000000000000000000000000000000000000..b00a7d5c038e7593b0eaaa1c458e8e1af12556c8 --- /dev/null +++ b/news/ABNB/2023.01.27/Obama Foundation - Applications open for Voyager Scholarship for Public Service.txt @@ -0,0 +1 @@ +Key TakeawaysThe Obama-Chesky Scholarship for Public Service supports students interested in pursuing public service careers with an academic scholarship, exposure to travel, and connections to a network of leaders.The Obama Foundation has opened 2023 applications for the Voyager Scholarship, The Obama-Chesky Scholarship for Public Service. Funded by a $100 million personal contribution from Airbnb Co-founder and CEO Brian Chesky to the Obama Foundation, the Voyager Scholarship provides college students with last-dollar financial aid to help alleviate the burden of college debt, provide meaningful travel experiences to expand their horizons, and offer a network of mentors and leaders to support them throughout their careers. The two-year scholarship program for US-based students in their junior and senior years of college offers unique opportunities for those who are committed to pursuing careers that serve the public and their communities.Last year, as part of our commitment to empower, inspire, and connect people to change their world, we welcomed the inaugural cohort of 100 Voyagers to the Obama Foundation family. They represent 35 states and territories, 70 colleges and universities, and are among the brightest and most inspiring young people I have ever met. Each and every one of them shares a passion for public service and the determination to change their world for the better. If this sounds like a rising college junior you know, I hope you will encourage them to apply for the Voyager Scholarship-the Obama Foundation stands ready to empower leaders to bridge divides and take on the biggest challenges of our time.Obama Foundation Chief Executive Officer Valerie JarrettApplications are now open to undergraduate students entering their junior year of college in Fall 2023 at an accredited four-year college or university in the US. Students from two-year and four-year colleges are welcome to apply. Voyager Scholarship for Public Service recipients will receive:Up to $50,000 in financial aid: Students will receive up to $25,000 per year in financial aid for their junior and senior years of college. This financial aid should alleviate the burden of college debt so that students can afford to pursue a career in public service.Summer Voyage: Students will receive a $10,000 stipend and credits for Airbnb housing to pursue a summer work-travel experience between their junior and senior year of college. The students will design their own Summer Voyage to gain exposure to new communities and experience in a chosen field.10-year travel stipend: After graduation, Airbnb will provide the students with a $2,000 Airbnb travel credit every year for 10 years, totaling $20,000. This will allow students to continue to broaden their horizons and forge new connections throughout their public service careers.Fall Summit: Students will be invited to a fall summit to help define their public service voyage. They'll hear from guest speakers on different approaches to service and connect with other scholarship recipients.Network of leaders: Throughout the program, students will be invited to an ongoing speaker series, giving them access to a network of leaders. This network of leaders will expose them to new areas of service and innovations happening in their fields. After graduation, they will join the Obama Foundation's global community, providing them with Foundation resources and programming.Applications will be accepted beginning today and must be received by March 22, 2023 at 3:00 PM CT. 100 students will join the second cohort of Voyagers. Accepted students will be notified in July.For more information and to apply, visit voyager-scholarship.obama.org.About AirbnbAirbnb was born in 2007 when two Hosts welcomed three guests to their San Francisco home, and has since grown to over 4 million Hosts who have welcomed more than 1 billion guest arrivals across over 220 countries and regions. Travel on Airbnb keeps more of the financial benefits of tourism with the people and places that make it happen. Airbnb has generated billions of dollars in earnings for Hosts, most of whom are individuals listing the homes in which they live. Among Hosts who report their gender, more than half are women, and one in five employed Hosts are either teachers or healthcare workers. Travel on Airbnb also has generated more than $4 billion in tax revenue around the world. Airbnb has helped advance more than 1,000 regulatory frameworks for short-term rentals, including in 80% of our top 200 geographies. In late 2020, to support our continued expansion and diversification, we launched the City Portal to provide governments with a one-stop shop that supports data sharing and compliance with local registration rules. We continue to invest in innovations and tools to support our ongoing work with governments around the world to advance travel that best serves communities.About Airbnb.orgAirbnb.org is a nonprofit organization dedicated to facilitating temporary stays for people in times of crisis around the world. Airbnb.org operates independently and leverages Airbnb, Inc.'s technology, services, and other resources at no charge to carry out Airbnb.org's charitable purpose. The inspiration for Airbnb.org began in 2012 with a single host named Shell who opened up her home to people impacted by Hurricane Sandy. This sparked a movement and marked the beginning of a program that allows Hosts on Airbnb to provide stays for people in times of need. Since then, the program has evolved to focus on emergency response and to help provide stays to evacuees, relief workers, refugees, asylum seekers, and frontline workers fighting the spread of COVID-19. Since then, Hosts have offered to open up their homes and helped provide accommodations to 100,000 people in times of need. Airbnb.org is a separate and independent entity from Airbnb, Inc. Airbnb, Inc. does not charge service fees for Airbnb.org supported stays on its platform.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/ABNB/2023.01.31/Airbnb to Announce Fourth Quarter and Full Year 2022 Results.txt b/news/ABNB/2023.01.31/Airbnb to Announce Fourth Quarter and Full Year 2022 Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..e6ae52ee9a27b2b64986334a499e6d7fd6baa0fd --- /dev/null +++ b/news/ABNB/2023.01.31/Airbnb to Announce Fourth Quarter and Full Year 2022 Results.txt @@ -0,0 +1,21 @@ + + +SAN FRANCISCO, Jan. 31, 2023 /PRNewswire/ -- Airbnb, Inc. (NASDAQ: ABNB) today announced that the company's fourth quarter and full year 2022 financial results will be released after market close on Tuesday, February 14, 2023. The company's shareholder letter will be made available on the Airbnb Investor Relations website at https://investors.airbnb.com. + + + + + + + +Airbnb will host an audio webcast to discuss its results at 1:30 p.m. PT / 4:30 p.m. ET the same day. The link to the webcast will be made available on the Investor Relations website at https://investors.airbnb.com. +Interested parties can register for the call in advance by visiting https://conferencingportals.com/event/UxGWzHKK. After registering, instructions will be shared on how to join the call. +Following the call, a replay of the webcast will be available on the Airbnb Investor Relations website. A telephonic replay will be also available for three weeks following the call at (800) 770-2030 using conference ID: 24053. +About AirbnbAirbnb was born in 2007 when two Hosts welcomed three guests to their San Francisco home, and has since grown to over 4 million Hosts who have welcomed more than 1 billion guest arrivals in almost every country across the globe. Every day, Hosts offer unique stays and experiences that make it possible for guests to connect with communities in a more authentic way. +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/airbnb-to-announce-fourth-quarter-and-full-year-2022-results-301731423.html +SOURCE Airbnb, Inc. + + diff --git a/news/ABNB/2023.02.02/Airbnb's Joe Gebbia donates $25 million to The Ocean Cleanup.txt b/news/ABNB/2023.02.02/Airbnb's Joe Gebbia donates $25 million to The Ocean Cleanup.txt new file mode 100644 index 0000000000000000000000000000000000000000..1f8e34fe9a3eedf40a556b24f5e867f25f89d885 --- /dev/null +++ b/news/ABNB/2023.02.02/Airbnb's Joe Gebbia donates $25 million to The Ocean Cleanup.txt @@ -0,0 +1 @@ +Entrepreneur Joe Gebbia donated $25 million to The Ocean Cleanup Thursday to support the nonprofit’s efforts to remove plastic from the world’s oceans and rivers.Experts in the field welcome both the donation and the attention to the issue of ocean sustainability, pointing out that it receives the least funding of all the United Nations’ Sustainable Development Goals. According to the World Economic Forum, about $175 billion a year is needed to protect the oceans, but between 2015 and 2019 less than $10 billion total was invested in the cause.Gebbia, co-founder of Airbnb and Samara and chairman of Airbnb.org, said he was proud to partner with the nonprofit, which declared his donation the largest in its history.“The Ocean Cleanup has created systems and technology that actually work at scale,” Gebbia said in a statement to The Associated Press. “In order for them to deploy across our oceans and rivers, they now need to scale their funding. It is my hope that this donation can inspire others to act.”The Ocean Cleanup works to remove the existing plastic floating in the ocean, especially in the Great Pacific Garbage Patch, as well as reducing the amount of plastic flowing into the oceans. The nonprofit has removed roughly 440,000 pounds of plastic from the Garbage Patch, which consists of an estimated 220 million pounds of plastic located between Hawaii and California.“Joe’s continued support of The Ocean Cleanup’s mission has a direct impact on our operations all over the world,” Boyan Slat, The Ocean Cleanup’s founder and CEO, said in a statement. “Thanks, in part, to his generous assistance, we are able to scale up our work in oceans and rivers, helping us reach our goal of ridding the world’s oceans of plastic.”Daniela Fernandez, founder and CEO of the nonprofit Sustainable Ocean Alliance, which helps young leaders connect to work on solving issues threatening oceans’ health, said many donors do not realize that supporting programs battling climate change does not necessarily support the welfare of the oceans. She said Gebbia’s donation is a sign of change.“I do think that we are seeing philanthropists pay more attention,” said Fernandez, whose group is co-sponsoring Our Ocean Youth Leadership Summit in Panama later this month to discuss cleanup and other possible solutions to the oceans’ issues. “I think it’s really exciting to see this large support take place.”Fernandez said it is important to encourage and empower young people because they may have important new ideas.“They’re frustrated,” she said. “But now you’re seeing this area of entrepreneurship where people are saying, ‘Not only do I want to be angry and write a letter or sign a petition, I actually want to roll up my sleeves and build a mangrove forest in my backyard or put together a coral reef planting campaign for my community.’ We’re seeing so many ideas.”____Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.© 2023 The Canadian Press. All rights reserved., source Canadian Press DataFile \ No newline at end of file diff --git a/news/ABNB/2023.02.06/Generation Space launches startup accelerator in U.S.txt b/news/ABNB/2023.02.06/Generation Space launches startup accelerator in U.S.txt new file mode 100644 index 0000000000000000000000000000000000000000..da2064b7f1064a1de8f1717a703c245585662850 --- /dev/null +++ b/news/ABNB/2023.02.06/Generation Space launches startup accelerator in U.S.txt @@ -0,0 +1 @@ +The 12-week accelerator will be run by Generation Space and focus on startups working in sectors from climate technology and defense to communications and mobility.Startup accelerators support early-stage companies through education, mentorship and financing. Their examples include Y Combinator, which helped launch companies such as vacation rental firm Airbnb and social media platform Reddit. Seraphim Space's move comes at a time when the industry is grappling with a slowdown in funding due to rising fears about the economy. Investment in space startups more than halved last year after a record 2021.Seraphim Space still sees some positive signs. It said that seed deals were up about 50% in 2022, a sign of investor interest in early-stage startups despite the sagging economy.The venture capital firm has helped launch $1.2 billion worth satellite communications firm AST SpaceMobile Inc and data and analytics company Spire Global, which has a market valuation of nearly $200 million.Northern Sky Research last year predicted that the global space industry will rake in revenue of $1.25 trillion by 2030, representing a compounded annual growth rate of 6.25%. (Reporting by Akash Sriram in Bengaluru; Editing by Maju Samuel) \ No newline at end of file diff --git a/news/ABNB/2023.02.12/Airbnb offers 'Phantom of the Opera'-themed stay at Palais Garnier in Paris.txt b/news/ABNB/2023.02.12/Airbnb offers 'Phantom of the Opera'-themed stay at Palais Garnier in Paris.txt new file mode 100644 index 0000000000000000000000000000000000000000..a658ced5215638d563a57d1b3771cc3165fd14ee --- /dev/null +++ b/news/ABNB/2023.02.12/Airbnb offers 'Phantom of the Opera'-themed stay at Palais Garnier in Paris.txt @@ -0,0 +1 @@ +The "Phantom of the Opera"-themed stay - a nod to the novel by Gaston Leroux and Andrew Lloyd Webber's musical - comes as tourism bounces back in Europe after several years of pandemic disruptions, with visitors from the United States arriving in France in droves since last summer. European capitals are also gearing up for the return of Chinese tourists, following the lifting of travel restrictions.Before the pandemic, Airbnb had created other unusual overnight stays in the French capital, one of its key markets. These included a shark tank in the city's aquarium, the skull-lined catacombs, the Moulin Rouge cabaret and the glass pyramid in the Louvre.The idea is to encourage people "to travel and dream at the same time -- and raise a lot of emotions around travel," Emmanuel Marill, Airbnb director of Europe, the Middle East and Africa told Reuters. The Palais Garnier stay includes a music recital, dinner in an ornate rehearsal room backstage and a behind-the-scenes tour of the elaborate 19th century building, including its underground pool, the inspiration for the phantom's lair in the book and musical. The Palais Garnier stay will be listed on March 1 for 37 euros, also the number on the box, one of the theatre's most prestigious, which will be decked out with antique furniture specially for the night.It will be offered on a first-come-first-serve basis to an applicant registered on the company's online rental platform. "It's a bit of a fantasy. I think it will be a bit unreal," said Veronique Dubrulle Leroux, the great-granddaughter of Phantom of the Opera author Leroux, who will host the visitors.As part of the project, Airbnb will also fund the renovation of the theatre's 19th century boxes and help the Opera de Paris to update its online streaming platform. (Reporting by Mimosa Spencer and Manuel Ausloos. Editing by Jane Merriman)By Mimosa Spencer and Manuel Ausloos \ No newline at end of file diff --git a/news/ABNB/2023.02.13/A snag in the smooth plan?.txt b/news/ABNB/2023.02.13/A snag in the smooth plan?.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d71f37c0eefd87672e872dda20901cb34430347 --- /dev/null +++ b/news/ABNB/2023.02.13/A snag in the smooth plan?.txt @@ -0,0 +1,53 @@ + +When I talk about a decline, I am talking about a relatively moderate decline: we are still a long way from the sharp drops of the summer of 2022. Investors have been showing some restraint for a few days. Let's take advantage of this to make a quick assessment. On the Western markets, highly leveraged indexes have exploded to the upside - understanding those that overreact to periods of increase - like the gains of more than 12% made since January 1st by the American Nasdaq 100 or the Italian FTSE MIB. The German DAX, the French CAC and the American S&P500 are all up between 6 and 10%. At the back of the pack, but still in the green, are the more defensive indexes such as the Scandinavian OMX Nordic 40 or the Swiss SMI. + + + +Ranking of a few indexes since the beginning of January + +After a strong start to the year, the stock markets stalled last week, having already shown signs of losing steam in early February. Investors no longer seem as convinced that the US central bank will return to a more accommodative policy. in the coming months regarding its rate policy. The Fed wants to slow the economy to make sure that inflation is under control, but some indicators remain consistently strong. The central bank still believes that it is better to have a momentarily slow economy and dissipating inflation than a strong economy with high inflation. Economics is subject to varying interpretations and theories. But we have to go along with it, since it is the prevailing trend. +The return of fears about the Fed's monetary intentions is visible in the bond market. It was a little slow to react, but the yield on the 10-year US government bond has risen to 3.73%. It had fallen to 3.3% less than a month ago, when investors stopped listening to the cautious words of the US central bank to focus on their own scenario. The same can be said for the dollar, which is back on its one-month highs. This tension will probably find an outlet tomorrow with the release of the US inflation figures for January. Economists expect the pace of annual price increases to slow from 6.5% to 6.2%. However, there will be a subtlety to keep in mind. While prices are falling over the course of a year, they should have risen between December and January. There are several reasons for this, including seasonality and some changes in the weights of official components. Psychologically, the figures released tomorrow at 8:30 am are therefore likely to have a greater impact, especially if they help to invalidate the "blue sky" scenario that investors took on at the beginning of the year. Personally, I have no idea what kind of sauce we will be served. But neither do most intelligent people, so there is a real element of uncertainty to this release, perhaps more so than in previous weeks when data was piling up in support of inflationary de-escalation. + +I complete with some important information to start the week: + +The human toll from the earthquake that struck Turkey and Syria a week ago has risen to over 30,000 dead. +In North America, a new object was shot down on the border between the United States and Canada, possibly an observation balloon. Washington said it had strengthened and refined its radar capabilities to explain the increase in interceptions. Taiwan has indicated that it frequently encounters balloons of Chinese origin in its airspace. +In Cyprus, the former head of diplomacy Nikos Christodoulides won the presidential election. +In Germany, Olaf Scholz' party was defeated in a local election in Berlin. +In Ukraine, Russia is tightening its grip on Bakhmut, apparently at the cost of heavy casualties. +Oil is stabilizing after rallying late last week on news of a Russian production cut, which boosted stocks in the sector. +The agenda of corporate results is still very full with some great names this week, including, in chronological order, Coca-Cola, Airbnb, Zoetis, Cisco, Glencore, Kering, Heineken, Nestlé, Airbus, Schneider, Applied Materials, Air Liquide, Pernod Ricard, Hermès or Mercedes. + + +Economic highlights of the day: + + +No major statistics in sight today. All the agenda here. + +The dollar is up to 0.9368 EUR. Gold is trading at 1860 USD per ounce. Oil remains firm, with North Sea Brent crude at USD 86.07 a barrel and US WTI light crude at USD 79.60. The yield on 10-year US debt is back up to 3.73%. Bitcoin has fallen back below 22,000 USD. +  +In corporate news: + +* Boeing - Air India has sealed a landmark order from the U.S. aircraft manufacturer and Airbus for about 500 aircraft worth more than $100 billion at list price. +* Meta, Facebook's parent company, delayed finalizing budgets for several of its teams as it prepares for another round of job cuts. +* Tesla - The U.S. Department of Transportation is expected to pressure Tesla to unlock its network of electric vehicle chargers in the U.S. to take advantage of the subsidies, as part of an effort to equip the country with 500,000 electric vehicle chargers in the coming years. +* PayPal has suspended work on its stablecoin cryptocurrency, which it had hoped to launch in the coming weeks, as regulators step up scrutiny of cryptoassets and a key partner in the project faces an investigation by the New York State Department of Financial Services. +* Ford is expected to announce plans as early as Monday to build a $3.5 billion lithium iron phosphate (LFP) battery plant in Michigan with China's CATL Group. +* Jetblue Airways, Spirit Airlines - The U.S. Department of Justice (DOJ) is likely to file a lawsuit to block the merger between the two airlines, Politico reported Friday, citing five people familiar with the matter.  + + +Analyst recommendations: + +Advance Auto Parts: Roth MKM downgrades to neutral from buy. PT down 7.8% to $140. +Capri Holdings:Cowen cut the recommendation to market perform from outperform. PT down 10% to $55. +Caterpillar: Baird downgrades its recommendation to neutral from outperform. Price target set to $230. +Crest Nicholson: Deutsche Bank cut the recommendation to hold from buy. PT set to 243 pence. +Expedia: Susquehanna Financial raised the target to $116 from $100. Maintains neutral rating. +Masco: Deutsche Bank upped the goal to hold from sell. Price target set to $56. +Persimmon: Deutsche Bank decrease its price target by 15% to 1,267 pence. +Ralph Lauren: BofA Global Research raised the recommendation to buy from neutral. PT set to $145. +Vesuvius: Panmure Gordon & Co Limited initiated coverage with a recommendation of buy. PT increases by 41%, set to 565 pence +XPO: Morgan Stanley moved to equal-weight from overweight. PT upgrades 22% to $43. + + + diff --git a/news/ABNB/2023.02.13/Airbnb offers 'Phantom of the Opera'-themed stay.txt b/news/ABNB/2023.02.13/Airbnb offers 'Phantom of the Opera'-themed stay.txt new file mode 100644 index 0000000000000000000000000000000000000000..c2798b979ff5f30fee9fed75b68bffbef0f5e6fa --- /dev/null +++ b/news/ABNB/2023.02.13/Airbnb offers 'Phantom of the Opera'-themed stay.txt @@ -0,0 +1 @@ +Location: Paris, FranceAirbnb is offering a night for two at the Palais Garnier the Parisian opera house that inspired the novel by French author Gaston Leroux'Box of Honor'(Emmanuel Marill, Airbnb's Director of EMEA)"This space is going to be the room for one night, for two people. It's a room that is right in front of the scene. It's a loge d'honneur (official box), which is probably one of the most iconic places with the loge of the Emperor (Napoleon III) -- which is just behind us -- of this beautiful theater."The stay includes a music recital, dinner in an ornate rehearsal room backstage and a behind-the-scenes tour of the elaborate 19th century buildingAirbnb says the Palais Garnier stay will be listed for 37 euros - the same number as the box(Veronique Dubrulle Leroux, Great granddaughter of Gaston Leroux)"It will be a beautiful homage for Gaston Leroux, this place and this idea, which, I say it again, is quite magical. It is a bit of a fantasy. I think it will be a bit unreal for people." \ No newline at end of file diff --git a/news/ABNB/2023.02.13/Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF.txt b/news/ABNB/2023.02.13/Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF.txt new file mode 100644 index 0000000000000000000000000000000000000000..b60c66e94432a21b624ae753d49c13c8dba8b1fc --- /dev/null +++ b/news/ABNB/2023.02.13/Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF.txt @@ -0,0 +1 @@ +Soros disclosed a $325.3 million stake, or 2.9 million shares, in biotech firm Horizon Therapeutics, which was bought by Amgen in December for nearly $28 billion. It was the investment firm's biggest singular acquisition in the quarter.The firm also bought 2.8 million shares, valued at $90 million, in home health assessment firm Signify Health. It added $209.1 million, or 8.5 million shares, in Memphis-based financial services company First Horizon, which was acquired by Toronto-Dominion Bank roughly a year ago for $13.4 billion. The deal has been delayed and now is expected to be concluded in May. In finance, the investment firm also added consumer lending firm Capital One Financial Corp, Discover Financial Services, and SoFi Technologies, although it also dumped small investments in banks JPMorgan Chase & Co and Bank of New York Mellon Corp.Soros' portfolio dissolved or trimmed positions in tech companies.Shares in Zoom Technologies Inc and Airbnb Inc were sold, while it reduced its holdings in Amazon.com, by 54.5%, to 901 million shares. Shares in the company rose 18.5% this year.The regulatory filing also showed Soros bought $255 million in an investment grade corporate bond ETF.The so-called 13-F filings, which disclose investment firms portfolios, are closely watched for investment trends even though the data is released with a delay and can be dated.As interest rates rise, investors are increasing their bets on U.S. corporate bonds this year. (Reporting by Carolina Mandl, Editing by Chris Reese)By Carolina Mandl \ No newline at end of file diff --git a/news/ABNB/2023.02.14/Airbnb 4Q profit and revenue rise on bookings, higher rates.txt b/news/ABNB/2023.02.14/Airbnb 4Q profit and revenue rise on bookings, higher rates.txt new file mode 100644 index 0000000000000000000000000000000000000000..70ffd0c6ad84f6ca81bc8fc4700cb61713c30eea --- /dev/null +++ b/news/ABNB/2023.02.14/Airbnb 4Q profit and revenue rise on bookings, higher rates.txt @@ -0,0 +1 @@ +DALLAS (AP) — Airbnb said Tuesday it enjoyed a record 2022, including its first annual profit, and it continues to see strong demand for travel carry over into the new year despite economic uncertainty and high inflation.The San Francisco-based company said it earned $319 million in the fourth quarter, up from $55 million a year earlier, and $1.89 billion for the full year.Spurred by an increase in bookings, fourth-quarter revenue rose 24% from a year earlier.The company predicted that first-quarter revenue will be between $1.75 billion and $1.82 billion, which would beat Wall Street expectations. It said more people are considering international trips and going back to cities, which many travelers avoided at the peak of the pandemic.“We are already seeing some really strong demand in Q1. No matter what happens in the world, people want to travel” because they are stuck at home more often, CEO Brian Chesky said on a call with analysts. “The office is now Zoom, the mall is now Amazon, the theater is now Netflix.”Airbnb outperformed hotels when travel began to recover from pandemic-era lows, as some people seemed to prefer the relative isolation of staying in a house rather than a hotel. Chesky said Airbnb can keep that advantage if it provides value to consumers.However, complaints about high cleaning fees and other charges pushed Airbnb to be more upfront about the total price when listings are displayed.Chesky said the company began including all fees in advertised prices in December and the change hasn't affect bookings. He said, however, that it could lead to lower average daily rental rates in the short run.To take advantage of the rising trend in travel, Airbnb has been expanding its listings by trying to lure more people to post their homes on the platform. The company said that excluding China, it added 900,000 listings last year, pushing its total to 6.6 million. However, that strategy has alienated hosts, who complain about fewer rentals.Chief Financial Officer Dave Stephenson said the company tries to strike a balance.“If we get too much supply too quickly, then hosts aren't happy because they're not getting enough bookings,” he said. “If we don't get enough supply early enough, then guests are not happy because they don't get the kind of selection they want.”Airbnb's fourth-quarter profit worked out to 48 cents per share. That topped the mean forecast of 26 cents per share among analysts surveyed by FactSet. Revenue was $1.9 billion, beating Wall Street's forecast of $1.86 billion.Average daily rates fell 1% but rose 5% after excluding currency effects. Cancellation rates remained above 2019 levels, but declined from last year, the company said.Airbnb's shares rose about 9% in after-market trading. The stock has been surging: At Tuesday's closing price, the shares had gained 41% this year, compared with an 8% rise in the Standard & Poor's 500 index.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/ABNB/2023.02.14/Airbnb : Earnings Documents.txt b/news/ABNB/2023.02.14/Airbnb : Earnings Documents.txt new file mode 100644 index 0000000000000000000000000000000000000000..cd3c47db60106ffe87d9c1cbdd76c83b9136b58a --- /dev/null +++ b/news/ABNB/2023.02.14/Airbnb : Earnings Documents.txt @@ -0,0 +1,589 @@ + + + + Q4 2022 + + + Shareholder Letter + + + + + + + Key Financial Measures + + + Revenue + + + Revenue of $1.9 billion increased 24% from Q4 2021 demonstrating continued strong travel demand. + + + + + Q4 2022FY 2022 + + + + + + $1.9B + + + + + $8.4B + + + + + + + 24% Y/Y + + + + + 40% Y/Y + + + + + + + 31% Y/Y (ex-FX) + + + + + 46% Y/Y (ex-FX) + + + + + + + 72% Y/3Y + + + + + 75% Y/3Y + + + + + + + + + + + + Net Income + + + + + $319M + + + + + $1.9B + + + + + + + + + + + + + Our first full GAAP profitable year (23% net margin) + + + + + + + + + + + included our most profitable Q4 ever (17% net + + + + + $385M (ex-FX) + + + + + $2.2B (ex-FX) + + + + + + + margin)-both periods delivering double digit year- + + + + + $55M Q4 2021 + + + + + $(352)M FY 2021 + + + + + + + over-year margin expansion. + + + + + $(352)M Q4 2019 + + + + + $(674)M FY 2019 + + + + + + + + + Adjusted EBITDA* + + + + + $506M + + + + + $2.9B + + + + + + + + + + + + + Our highest Q4 Adjusted EBITDA ever demonstrated + + + + + + + + + + + the continued strength of the business and discipline + + + + + $574M (ex-FX) + + + + + $3.2B (ex-FX) + + + + + + + in managing our cost structure. + + + + + $333M Q4 2021 + + + + + $1.6B FY 2021 + + + + + + + + + $(276)M Q4 2019 + + + + + $(253)M FY 2019 + + + + + + + + + Free Cash Flow ("FCF")* + + + We generated $463 million of net cash provided by operating activities in Q4 and $455 million of Free Cash Flow. + + + + + + + + $455M + + + + + $3.4B + + + + + + + Free Cash Flow + + + + + Free Cash Flow + + + + + + + 21% Y/Y + + + + + 49% Y/Y + + + + + + + 310% Y/3Y + + + + + 3,072% Y/3Y + + + + + + + + + Key Business Metrics + + + + + + Gross Booking Value ("GBV") + + + Strong growth in Nights and Experiences Booked drove nearly $13.5 billion of GBV in Q4 2022. + + + + + + + + $13.5B + + + + + $63.2B + + + + + + + 20% Y/Y + + + + + 35% Y/Y + + + + + + + 26% Y/Y (ex-FX) + + + + + 42% Y/Y (ex-FX) + + + + + + + 58% Y/3Y + + + + + 67% Y/3Y + + + + + + + + + + + + Nights and Experiences Booked + + + + + 88.2M + + + + + 393.7M + + + + + + + + + + + + + In Q4 2022, Nights and Experiences Booked + + + + + + + + + + + increased 20% compared to the prior year, driven + + + + + 20% Y/Y + + + + + 31% Y/Y + + + + + + + by growth in all regions. + + + + + 16% Y/3Y + + + + + 20% Y/3Y + + + + + + * A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided at the end of this letter. + + + + + 2 + + + + + + + Q4 2022 Shareholder Letter + + + 2022 was another record year for Airbnb. Revenue of $8.4 billion grew 40% year over year (46% ex-FX). Net income was $1.9 billion-making 2022 our first profitable full year on a GAAP basis. Adjusted EBITDA was $2.9 billion while Free Cash Flow was $3.4 billion, growing 49% year over year. + + + Guest demand remained strong throughout 2022. All regions saw significant growth in 2022 as guests increasingly crossed borders and returned to cities on Airbnb. + + + Supply growth was also strong in 2022. We ended the year with 6.6 million global active listings, which + + + is over 900,000 more listings than we had in the beginning of the year, excluding China. This growth was driven by our global network, where demand drives supply, as well as product innovations that continue to attract new Hosts. + + + Looking forward to 2023, we're seeing strong demand in Q1, indicating that consumer confidence to travel remains high. This year, we're focusing on three strategic priorities: + + + +Make hosting mainstream. If you're reading this letter, you have likely traveled on Airbnb or know someone who has. We want hosting on Airbnb to be just as popular. To achieve this, we will continue to raise awareness around hosting, make it easier to get started, and provide even better tools for Hosts. + + +Perfect the core service. We want people to love our service, and that means obsessing over every detail. Based on feedback from our guests and Hosts, we're making a large number + of upgrades to our service this year-improving community support, making it easier to find the right home for you, delivering greater value, and much more. + + +Expand beyond the core. We have some big ideas for where to take Airbnb next, and this year we will build the foundation for future products and services that will provide incremental growth for years to come. + + + + As we continue to innovate and grow, we're excited to share this journey with you. + + + Q4 and Full-Year 2022 Financial Results + + + Here is a snapshot of our Q4 and full-year 2022 results: + + + +Q4 revenue of $1.9 billion was our highest fourth quarter ever. Revenue grew 24% year-over-year (31% ex-FX) driven by solid growth in Nights and Experiences Booked. For the full year 2022, revenue increased 40% year-over-year (46% ex-FX) to $8.4 billion driven by the increase in demand and Average Daily Rates ("ADR"). + + +Q4 net income of $319 million was our most profitable fourth quarter ever. Net income improved by $264 million compared to Q4 2021 primarily due to our revenue growth and expense discipline. In Q4 2022, we delivered a net income margin of 17%, up from 4% in Q4 2021. For the full year 2022, we generated $1.9 billion of net income-our first profitable full year. This compared to a net loss of $352 million for the full year 2021. + + + + + + 3 + + + + + + + +Q4 Adjusted EBITDA of $506 million was a record fourth quarter. Adjusted EBITDA in Q4 2022 increased 52% compared to $333 million in Q4 2021. Adjusted EBITDA margin was 27% for Q4 2022, up from 22% in Q4 2021. For the full year 2022, Adjusted EBITDA margin was 35%, compared with 27% for full year 2021. This improvement in Adjusted EBITDA demonstrates the continued strength of our business and discipline in managing our cost structure.1 + + +Q4 Free Cash Flow of $455 million was our highest Q4 ever. Q4 2022 net cash provided by operating activities was $463 million, up from $382 million in Q4 2021. The increase in cash flow was driven by revenue growth and net margin expansion. Our FCF for full year 2022 was $3.4 billion, representing a FCF margin of 41%, and year-over-year growth of 49%.2 With our Free Cash Flow, we repurchased $1.5 billion of our stock and reduced our fully diluted share count from 703 million at the end of 2021 to 694 million at the end of 2022. + + + + Business Highlights + + + Our strong quarter was driven by the continuation of a number of positive business trends: + + + +Guest demand on Airbnb remained strong. Nights and Experiences Booked increased 20% in Q4 2022 compared to a year ago. In Q4 2022, we had our highest number of active bookers yet, demonstrating guests' excitement to travel on Airbnb despite evolving macroeconomic uncertainties. Globally, we've now had 1.4 billion cumulative guest arrivals. And heading into 2023, we see a strong backlog for Q1 with longer lead times for bookings in Q4 2022 compared to + a year ago. + + +Guests increasingly returned to cities and crossed borders. Cross-border gross nights booked increased 49%, while high-density urban nights booked grew 22% compared to Q4 2021. While the business mix remains different from pre-pandemic levels, we've seen consistent growth in both areas. In Q4 2022, high-density urban nights booked was 51% of total gross nights booked (versus 59% in Q4 2019) and cross-border was 44% (versus 47% in Q4 2019). Globally, we saw cross-border travel to all regions increase in Q4 2022 from last year despite continued foreign currency volatility. While Asia Pacific, which has historically been reliant on cross-border travel, has yet to return to 2019 levels, we see China's recent removal of travel restrictions as an encouraging + sign of continued recovery for the region. + + +Guests continued to stay longer on Airbnb. Gross nights booked in Q4 2022 for more than a week are 40% higher than Q4 2019. Nights from long-term stays (28 nights or longer) remained stable from a year ago at 21% of total gross nights booked. We've seen guests across all regions and age groups use Airbnb for long-term stays. + + +Supply on Airbnb grew by over 900,000 active listings. We ended 2022 with 6.6 million active listings-our highest yet. This was an increase of over 900,000 active listings, or 16% compared to 2021, excluding the removal of all mainland China listings in July 2022 based on our decision to close the domestic business in China. Two factors drove this increase in supply. First, demand drives supply. Hosts are attracted to the supplemental income they can earn on Airbnb, which + + + +1, 2 A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided at the end of this letter. + + + + + 4 + + + + + + + is often critical during times of inflation and recessionary concerns. Second, our product innovation is having an impact. Over the past two years, we've made it more attractive and easier to Host-including our most recent introduction of Airbnb Setup. And we're not stopping there. We will continuously invest in growing our Host community and helping them succeed. + + + + + 5 + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Airbnb Inc. published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2023 21:21:06 UTC. + + diff --git a/news/ABNB/2023.02.14/Airbnb Announces Fourth Quarter and Full Year 2022 Results.txt b/news/ABNB/2023.02.14/Airbnb Announces Fourth Quarter and Full Year 2022 Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..e436b1a843138d7fceb318db9333cac6ee8e9750 --- /dev/null +++ b/news/ABNB/2023.02.14/Airbnb Announces Fourth Quarter and Full Year 2022 Results.txt @@ -0,0 +1,20 @@ + + +SAN FRANCISCO, Feb. 14, 2023 /PRNewswire/ -- Airbnb, Inc. (NASDAQ: ABNB) has posted a shareholder letter containing its fourth quarter and full year 2022 financial results on its Investor Relations website at https://investors.airbnb.com. + + + + + + + +Airbnb will host an audio webcast to discuss its results at 1:30 p.m. PT / 4:30 p.m. ET today. The link to the webcast will be made available on the Investor Relations website at https://investors.airbnb.com. +Interested parties can register for the call in advance by visiting https://conferencingportals.com/event/UxGWzHKK. After registering, instructions will be shared on how to join the call. +Following the call, a replay of the webcast will be available on the Airbnb Investor Relations website. A telephonic replay will be also available for three weeks following the call at (800) 770-2030 using conference ID: 24053. +About AirbnbAirbnb was born in 2007 when two Hosts welcomed three guests to their San Francisco home, and has since grown to over 4 million Hosts who have welcomed more than 1 billion guest arrivals in almost every country across the globe. Every day, Hosts offer unique stays and experiences that make it possible for guests to connect with communities in a more authentic way. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/airbnb-announces-fourth-quarter-and-full-year-2022-results-301745870.html +SOURCE Airbnb, Inc. + + diff --git a/news/ABNB/2023.02.14/Airbnb Exec Says Co Investing This Year In New Products, Services To Expand Beyond Core...txt b/news/ABNB/2023.02.14/Airbnb Exec Says Co Investing This Year In New Products, Services To Expand Beyond Core...txt new file mode 100644 index 0000000000000000000000000000000000000000..8b0f6a1d668172cc117a3b7efbc9a4e65b0e759d --- /dev/null +++ b/news/ABNB/2023.02.14/Airbnb Exec Says Co Investing This Year In New Products, Services To Expand Beyond Core...txt @@ -0,0 +1,8 @@ +Feb 14 (Reuters) - Airbnb Inc:* AIRBNB EXEC SAYS CO INVESTING THIS YEAR IN NEW PRODUCTS, +SERVICES TO EXPAND BEYOND CORE - CONF. CALL* AIRBNB EXEC SAYS CO BEGINNING TO RAMP UP AIRBNB +EXPERIENCES* AIRBNB EXEC SAYS CO SEES MORE TRACTION IN AIRBNB +EXPERIENCES IN +COMING YEARS* AIRBNB EXEC SAYS ASIA PACIFIC IS A HUGE GROWTH AREA FOR CO +GOING +FORWARD* AIRBNB EXEC SAYS BULLISH OVER THE NEXT FEW YEARS ON ASIA +Further company coverage: \ No newline at end of file diff --git "a/news/ABNB/2023.02.14/Airbnb exec says asia pacific is a huge growth area for co going\342\200\246.txt" "b/news/ABNB/2023.02.14/Airbnb exec says asia pacific is a huge growth area for co going\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c04db0d096b0120ef96ff9bced3d569e8a6e8b95 --- /dev/null +++ "b/news/ABNB/2023.02.14/Airbnb exec says asia pacific is a huge growth area for co going\342\200\246.txt" @@ -0,0 +1 @@ +AIRBNB EXEC SAYS ASIA PACIFIC IS A HUGE GROWTH AREA FOR CO GOING FORWARD \ No newline at end of file diff --git "a/news/ABNB/2023.02.14/Airbnb exec says bullish over the next few years on asia\342\200\246.txt" "b/news/ABNB/2023.02.14/Airbnb exec says bullish over the next few years on asia\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..910094632773aa4b64fd3fc0b18fad69691f6b6a --- /dev/null +++ "b/news/ABNB/2023.02.14/Airbnb exec says bullish over the next few years on asia\342\200\246.txt" @@ -0,0 +1 @@ +AIRBNB EXEC SAYS BULLISH OVER THE NEXT FEW YEARS ON ASIA \ No newline at end of file diff --git "a/news/ABNB/2023.02.14/Airbnb exec says co beginning to ramp up airbnb experiences\342\200\246.txt" "b/news/ABNB/2023.02.14/Airbnb exec says co beginning to ramp up airbnb experiences\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..6a6d016e2d73bfa739a89e19d5f4b8291905e3fd --- /dev/null +++ "b/news/ABNB/2023.02.14/Airbnb exec says co beginning to ramp up airbnb experiences\342\200\246.txt" @@ -0,0 +1 @@ +AIRBNB EXEC SAYS CO BEGINNING TO RAMP UP AIRBNB EXPERIENCES \ No newline at end of file diff --git "a/news/ABNB/2023.02.14/Airbnb exec says co investing this year in new products, service\342\200\246.txt" "b/news/ABNB/2023.02.14/Airbnb exec says co investing this year in new products, service\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..bafaee935a388aed096760f509f61284d6995d05 --- /dev/null +++ "b/news/ABNB/2023.02.14/Airbnb exec says co investing this year in new products, service\342\200\246.txt" @@ -0,0 +1 @@ +AIRBNB EXEC SAYS CO INVESTING THIS YEAR IN NEW PRODUCTS, SERVICES TO EXPAND BEYOND CORE - CONF. CALL \ No newline at end of file diff --git "a/news/ABNB/2023.02.14/Airbnb exec says co sees more traction in airbnb experiences in\342\200\246.txt" "b/news/ABNB/2023.02.14/Airbnb exec says co sees more traction in airbnb experiences in\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c66429acdf31dde9ec42d882c40646dd5fc6d5a4 --- /dev/null +++ "b/news/ABNB/2023.02.14/Airbnb exec says co sees more traction in airbnb experiences in\342\200\246.txt" @@ -0,0 +1 @@ +AIRBNB EXEC SAYS CO SEES MORE TRACTION IN AIRBNB EXPERIENCES IN COMING YEARS \ No newline at end of file diff --git a/news/ABNB/2023.02.14/Airbnb warns of pressure on vacation rental rates in 2023.txt b/news/ABNB/2023.02.14/Airbnb warns of pressure on vacation rental rates in 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..2f34615be60a5e7a65b1c0a5386bab7b8105154f --- /dev/null +++ b/news/ABNB/2023.02.14/Airbnb warns of pressure on vacation rental rates in 2023.txt @@ -0,0 +1 @@ +The vacation rental firm, however, forecast current-quarter revenue ahead of Wall Street target and said it would maintain last year's margins for the full year, as it expects to keep costs in check. The San Francisco-based company, one of the top pandemic beneficiaries, has seen its revenue growth cool lately as fewer people are booking long-term rental stays away from cities with employers urging workers to return to offices, and a strong dollar eating into its overseas earnings.Revenue rose 24% to $1.90 billion during the holiday quarter ended December, lower than the preceding two quarters, but beat analysts' average estimate of $1.86 billion. The company said it expects to keep a tight lid on costs to ensure its 2023 core margins remain stable. It said travel demand continues to be strong in the first quarter despite recessionary fears sparking concerns around consumer spending."We're particularly encouraged by European guests booking their summer travel earlier this year," Airbnb said.The company forecast first-quarter revenue between $1.75 billion and $1.82 billion, higher than analysts' expectations of $1.69 billion, as per Refinitiv data.It expects core earnings to be down on a year-over-year basis due to its marketing spend.Meanwhile, fourth-quarter average daily rates fell 1% to $153 and bookings rose 20% to $13.5 billion, below analysts' average expectation of $13.69 billion.Airbnb reported a quarterly net profit of $319 million, or 48 cents per share, compared with a profit of $55 million, or 8 cents per share, a year earlier. (Reporting by Aishwarya Nair in Bengaluru; Editing by Shinjini Ganguli) \ No newline at end of file diff --git a/news/ABNB/2023.02.14/Inflation is back (on the calendar).txt b/news/ABNB/2023.02.14/Inflation is back (on the calendar).txt new file mode 100644 index 0000000000000000000000000000000000000000..31ca092010c5ce71172e8729f62417cb379923f0 --- /dev/null +++ b/news/ABNB/2023.02.14/Inflation is back (on the calendar).txt @@ -0,0 +1,49 @@ + +The indexes all gained more than 1%, thanks in particular to cyclical and technology stocks. The wave of caution that had gripped the stock market last week has tended to recede. That's the problem with these periods of uncertainty: we know it's going up and down, but we don't know by how much. As mentioned yesterday, everyone is waiting for 8:30am and the announcement of January's US inflation to decide whether the rebound will continue or whether it will get deflated. To validate the first hypothesis, inflation must continue to decline for the U.S. central bank to adopt a less aggressive attitude on rates. On the other hand, signals of pressure on prices, which are possible between December and January for seasonal reasons, are likely to frighten financiers. On average, the market expects annual inflation to fall from 6.5% in December to 6.2% in January, but prices to rise by 0.5% over a month. ING points out in passing this morning that these two figures are incompatible because an increase of 0.5% between December and January should translate into an annual inflation of 6.3% or 6.4%. So economists, can't we count anymore? +In the rest of the news, apparently no balloons have been fired in the world sky for at least 24 hours. Tensions on this point remain high between the United States and China. Beijing has accused Washington of flying balloons in Chinese airspace. At least ten in January. According to my information, Brussels is preparing a working group on the subject. The white paper that will come out of it will allow aerial observations to be made from 2027 onwards, with a view to preparing a possible response at the beginning of the next decade. In Japan, Kazuo Ueda, who is 71 years old, will be the new governor of the central bank starting in April. I don't know anything about Japanese banking genealogy, but I noticed that Ueda was not on the list of contenders to succeed Haruhiko Kuroda that had been circulating until last week. This academic has a good reputation, even if he is rumored to owe his place to the evasion of Masayoshi Amamiya, the current deputy governor of the Bank of Japan. On a related note, the Wall Street Journal understands that Joe Biden will announce this week the appointment of current Fed Vice Chair Lael Brainard as head of the Fed's National Economic Council. +To continue on a funnier note, well, funnily enough, I noticed yesterday that Elon Musk appeared in all the suggestions of the MarketScreener Twitter account. I was a bit saddened by this, but I moved on. Apparently, I'm not the only one to have noticed this and a journalist from the American media The Verge also got upset, recalling that the American billionaire had complained a few days ago that his tweets weren't seen enough and that he even fired an engineer for this reason (I didn't check). Apparently, Musk's account has been on a downward slope in terms of popularity since April, with engagement dropping quite a bit. Not being a man to imagine that he could annoy his audience, Elon had a technical problem looked for, estimating that 95% of his tweets were not delivered. His teams having not identified any malfunction, he asked them to look for more. From there, it's only a short step to see a cause and effect relationship with the omnipresence of the boss's tweets in the suggestions of all of us. I guess you could call it ordered freedom of speech. It's really quite reassuring if it's true. The story in a bit more detail here. +New delivery of results today with Coca-Cola, Airbnb, Zoetis, Marriott, Ecolab, GlobalFoundries or Akamai in the United States. For its part, the American Palantir exceeded expectations. +Economic highlights of the day: +The US inflation for January will be presented at 8:30am. All the agenda here. Last night, Japan announced that its GDP grew modestly by 0.2% between Q3 and Q4 2022, less than expected (0.5%). + +The dollar drops to 0.9293 EUR. The ounce of gold is trading at 1857 USD. Oil remains firm, with North Sea Brent crude at USD 85.48 per barrel and U.S. light crude WTI at USD 78.97. The yield on 10-year US debt is back down to 3.69%. Bitcoin is sailing around USD 21,800. + +In corporate news: + + +* Boeing - Tata Group-owned Air India will buy 220 planes from Boeing and 250 planes from Airbus for a total of more than $100 billion at list price. + +* Ford plans to cut 3,800 engineering and administrative jobs in Europe over the next three years to improve its cost structure and competitiveness in electric vehicles, the automaker announced Tuesday. The stock is up 1% in pre-market trading. + +* Tesla adjusted its prices for the fourth time in two months, raising the price of the Model Y Performance and lowering the price of the Model 3 Propulsion. + +* Apple is facing difficulties with the transfer of part of its production to India, as the yield in the manufacture of certain components is less than 50%. + +* Liberty Global said Monday it has acquired a 4.92% stake in British telecom operator Vodafone, but added that it was not considering a takeover bid for the group. + +* Paramount Global is again trying to sell Simon & Schuster after a $2.2 billion deal with Penguin Random House failed last November. + +* Walmart will close three of its U.S. technology centers (Austin, Carlsbad and Portland), which will mean the transfer of hundreds of employees if they want to keep their jobs. + +* Palantir Technologies announced Monday that it expects to post its first full year in the black this year after better-than-expected fourth-quarter results. The stock jumped 17.7% in pre-market trading. + +* Avis Budget Group gained 4.2% in after-hours trading after reporting better-than-expected fourth-quarter results linked to strong demand in the corporate and leisure travel businesses. + +* T-Mobile US - Users of the U.S. telecom operator faced a giant nationwide outage Monday. + +Analyst recommendations: + +Advanced Micro Devices: Benchmark Company raised the target to $103 from $93. Maintains buy rating. +Belden: Benchmark Company increased its price target to $108 from $88. +Fidelity National Information Services: Morgan Stanley moved to overweight from equal-weight. PT set to $79. +Gilead Sciences: Mizuho Securities maintains buy rating. Price target downgrades to $101 from $88. + Interpublic Group: Citi raised its expectations to $45 from $39. Maintains buy rating. +Jupiter Fund Management: Morgan Stanley initiated coverage with a recommendation of equal-weight. Price target set to 152 pence. +Lattice Semiconductor: Susquehanna Financial raised the target to $95 from $75. Maintains positive rating. +Mettler-Toledo: UBS maintains neutral rating. PT upgrades to $1,580 from $1,292. +Occidental Petroleum: Goldman Sachs raised the recommendation to buy from neutral. Price target up 25% to $81. +Royal Caribbean: Macquarie maintains outperform rating and set price target to $85 from $65. +Take-Two Interactive Software: DZ Bank cut the recommendation to hold from buy. PT set to $105 +Willis Towers Watson: Stifel upgraded its price target to $255 from $228. Maintains hold rating. + + diff --git a/news/ABNB/2023.02.14/Marketmind: Wings of a Dove.txt b/news/ABNB/2023.02.14/Marketmind: Wings of a Dove.txt new file mode 100644 index 0000000000000000000000000000000000000000..3fbbf2ea85926eb48af27de1b88b42bbff230aa6 --- /dev/null +++ b/news/ABNB/2023.02.14/Marketmind: Wings of a Dove.txt @@ -0,0 +1 @@ +With markets wary of just how much tough love the Federal Reserve will have to show the economy to get inflation back under wraps, the exit of one of the central bank's leading policy doves may rankle.U.S. President Joe Biden is expected on Tuesday to name Fed Vice Chair Lael Brainard to a top White House economic policy position, replacing National Economic Council Director Brian Deese. Biden confidant Jared Bernstein is expected to replace Cecilia Rouse as chair of the Council of Economic Advisers.Brainard was seen as a powerful voice cautioning against over-aggressive Fed policy tightening. Her departure will shift the balance of power on the Federal Open Market Committee at a critical time as it could take months for the Senate to confirm her successor.All other Fed governors and permanent FOMC members are viewed as hawkish on monetary policy right now, with Tuesday's critical consumer price inflation (CPI) report now the next test of just how many more interest rate rises may be agreed before the Fed hits peak rates.Analysts expect the headline CPI to rise 0.5% in January, with the core number seen advancing 0.4%, compared with 0.3% in the previous month, according to a Reuters poll. However, annual consumer price inflation likely eased to 6.2%, from 6.5% in December.Revisions to December's CPI numbers last week and recalculations around seasonal adjustments of the data mean today's outcome is tricky to call and could see considerable market volatility.With Wall Street stocks rallying sharply again on Monday, it appears investors are going into the number leaning on hopes of another positive surprise on disinflation. That could cut across the rates rethink that's followed the blockbuster January employment report and which has seen futures market pricing agree with the Fed's central assumption of a terminal rate just above 5% around midyear.As it stands, Fed futures now see the terminal rate at 5.2% in July, compared to the current policy target range of 4.5-4.75%, and they still factor in only about a quarter point cut to around 4.90% by yearend - something the Fed is also increasingly pushing back on.Economists polled by Reuters over the past week reckon the Fed will raise rates at least twice more in coming months, with the balance of risks that they go even higher. Some 46 of 86 economists in the Feb. 8-Feb. 13 survey predicted the U.S. central bank will go for two more 25 basis point hikes in March and May.U.S. stock futures and world equities were higher on Tuesday, U.S. Treasury yields and the dollar were steady to lower. Elsewhere, Japan's government named academic Kazuo Ueda as its pick to become next central bank governor, possibly heightening the chance of an end to its unpopular yield control policy. Ueda, a 71-year-old former Bank of Japan policy board member, will succeed incumbent Haruhiko Kuroda, whose second, five-year term ends on April 8, according to documents presented to parliament on Tuesday.Euro zone economic growth slowed in the last three months of 2022 but avoided a contraction many had predicted for months.In corporate news, Thyssenkrupp's shares dropped almost 6% as the German warship-to-car parts conglomerate said operating profit fell by a third in the first quarter - in part because its wholesale business was hit by falling cost of steel.And in investment, Allianz, one of the world's biggest investors, said it planned to exit "alternative" investments for plain vanilla bonds.Key developments that may provide direction to U.S. markets later on Tuesday:* U.S. Jan consumer price index, NFIB small business survey * New York Federal Reserve President John Williams, Dallas Fed President Lorrie Logan, Philadelphia Fed chief Patrick Harker, Richmond Fed chief Thomas Barkin all speak* European finance ministers meet in Brussels* U.S. corp earnings: Coca-Cola, Airbnb, Marriott, First Quantum Minerals, Akamai Technologies, Devon Energy, Eversource Energy, Zoetis, Leidos, Exelon, Ecolab (By Mike Dolan, editing by Tomasz Janowski mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/ABNB/2023.02.15/Airbnb, Analog Devices rise; Taiwan Semi, Lithia Motors fall.txt b/news/ABNB/2023.02.15/Airbnb, Analog Devices rise; Taiwan Semi, Lithia Motors fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..55d9d17c95f7deb20b8d5c20ed512f60376d1c58 --- /dev/null +++ b/news/ABNB/2023.02.15/Airbnb, Analog Devices rise; Taiwan Semi, Lithia Motors fall.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday:Airbnb Inc., up $16.14 to $137.01.The online rental company posted stronger profit and revenue than analysts expected.Bausch + Lomb Corp.. up $1.33 to $18.31.Brent Saunders will return as CEO of the eye care company.Taiwan Semiconductor Manufacturing Co., down $5.20 to $92.76.Warren Buffett's Berkshire Hathaway slashed its stake in the company.Lithia Motors Inc., down $23.17 to $258.13.The auto dealership reported results that fell short of what Wall Street analysts were looking for.Analog Devices Inc., up $13.64 to $196.18.The semiconductor company reported earnings and revenue that easily beat analysts' forecasts.Devon Energy Corp., down $6.71 to $57.23.The oil and natural gas company reported earnings that fell well short of what Wall Street was looking for.Trade Desk Inc., up $16.38 to $66.30.The tech platform for advertising buyers reported results that beat analysts' forecasts.Generac Holdings Inc., up $10.02 to $135.23.The Wisconsin-based maker of power generators reported higher earnings than analysts were expecting.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/ABNB/2023.02.15/Airbnb, Tripadvisor surge a day after strong forecast, results.txt b/news/ABNB/2023.02.15/Airbnb, Tripadvisor surge a day after strong forecast, results.txt new file mode 100644 index 0000000000000000000000000000000000000000..ae6b76f50c8c3381906cfc8552c61259494548bc --- /dev/null +++ b/news/ABNB/2023.02.15/Airbnb, Tripadvisor surge a day after strong forecast, results.txt @@ -0,0 +1 @@ +A strong U.S. dollar, flexible work arrangements and household savings have led to a travel boom, speeding up the industry's recovery from the pandemic. Economic worries are yet to make a significant dent to travel demand. "Travel demand remained strong throughout Q4, with longer lead times for bookings compared to the prior year. These trends have persisted into Q1 despite broader macro uncertainty," Canaccord Genuity analyst Michael Graham said in a note.The vacation rental firm forecast current-quarter revenue above market estimates, while the online travel booking firm posted fourth-quarter profit and revenue above expectations.The brokerage raised Airbnb's price target to $165 from $145 and retained its "buy" rating. "ABNB's print appears to support our view that travel remains resilient despite a more mixed macro," analysts from Piper Sandler said. (Reporting by Priyamvada C in Bengaluru; Editing by Janane Venkatraman) \ No newline at end of file diff --git a/news/ABNB/2023.02.15/Futures slip ahead of retail sales data.txt b/news/ABNB/2023.02.15/Futures slip ahead of retail sales data.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a3e14fe9bdf8be2267111006af0d2a12d84224d --- /dev/null +++ b/news/ABNB/2023.02.15/Futures slip ahead of retail sales data.txt @@ -0,0 +1 @@ +The benchmark S&P 500 came under pressure on Tuesday after data showed U.S. consumer prices accelerated in January, boosting expectations that the Fed will raise the policy rate at least twice more this year to the 5%-5.25% range.The consumer price index rose 6.4% last month from a year earlier, far above the Fed's 2% target but a step down from last year's blistering pace.The focus, now, will shift to retail sales data, due at 8:30 a.m. ET, for clues on consumer spending amid worries of slowing economic growth and high inflation.U.S. retail sales are expected to have risen 1.8% in January, as per a Reuters poll, after falling more than anticipated in December.At 7:18 a.m. ET, Dow e-minis were down 36 points, or 0.11%, S&P 500 e-minis were down 6.75 points, or 0.16%, and Nasdaq 100 e-minis were down 19.75 points, or 0.16%.U.S.-listed shares of Taiwan Semiconductor Manufacturing Co (TSMC) fell 5.7% in premarket trading after Warren Buffett's Berkshire Hathaway Inc slashed its stake in the chipmaker.Shares of Airbnb Inc and Tripadvisor Inc jumped more than 9% each after the companies posted forecast-beating results due to strong demand for travel.Kraft Heinz rose 1.3% after the ketchup maker beat quarterly sales estimates, helped by demand for its packaged meals and condiments, despite high prices.Biogen Inc added 1.4% after it beat analysts' estimates for quarterly results on strong demand for its spinal muscular atrophy drug, Spinraza.Nearly 70% of the S&P 500 firms that have reported results so far, have topped profit expectations, as per Refinitiv as of Friday.However, analysts estimate fourth-quarter earnings fell 2.8% from a year earlier. (Reporting by Johann M Cherian in Bengaluru; Editing by Savio D'Souza) \ No newline at end of file diff --git a/news/ABNB/2023.02.15/Let the dust settle.txt b/news/ABNB/2023.02.15/Let the dust settle.txt new file mode 100644 index 0000000000000000000000000000000000000000..ed5554c3e3001e49dd3b10eac1f981e20af7a5f8 --- /dev/null +++ b/news/ABNB/2023.02.15/Let the dust settle.txt @@ -0,0 +1,30 @@ + +Nothing is ever certain in finance and yesterday's session was a good illustration of this. Investors were waiting for the January inflation figures in the US to adjust their strategies, with two dominant and probably a bit simplistic scenarios. Well, it's a bit easy to say after the fact, but it comes down to this. Either inflation continues to fall without too many bumps in the road, allowing the bullish party to continue. Or inflation continues to bite a little too hard and the equity markets take the hit. That's the theory. In practice, inflation figures have been a little more worrying than expected, and equity markets have been rising. Well, rather disparate performances, but still a gain of 0.7% for the Nasdaq, the index most sensitive to the path of monetary policy, and therefore to the indications provided by inflation. The Nasdaq fluctuated a lot, but ended up almost at its highs for the session. It should be noted that it was not imitated by the Dow Jones (-0.46%) and that the S&P500 failed to rise (-0.03%). The same confusion in Europe with small increases in Paris, London and Zurich and slight decreases in Frankfurt, Stockholm and Brussels. +Consumer prices in the United States rose as expected between December and January, mainly due to seasonal factors. At this point, the financial community seems to view this as a minor blip on the road to a decline in price increases. In a sense, the statistic has not invalidated the prevailing narrative that the Fed is near the end of its rate hike cycle. But it probably added some weight to the theory that rates will remain at their current high level for longer than the markets currently expect.. However, this does not necessarily upset investors, who fear uncertainty about the path of rates more than rates themselves... especially as they approach the peak. The bond market, which is more subtle than the stock market when it comes to making monetary predictions, became a little tense yesterday on the announcement of US inflation, but without excess. The yield on 10-year U.S. debt rose to 3.74%, which is almost a non-event. +In other news, Joe Biden has named, as rumors suggested, Fed Vice Chair Lael Brainard as his chief economic advisor. She is therefore leaving the central bank. The litany of corporate results continues with since yesterday evening the figures of Carrefour, Vinci, Airbnb, Kering, Nexans, Heineken, Barclays, Ahold Delhaize and many other listed companies. The session will also be marked by a new series of macroeconomic indicators in the United States, which will refine the reading of inflation from the previous day. In particular, we will have to follow the January retail sales at 8:30 am. In China, the central bank left its one-year rate unchanged while injecting liquidity to meet increased demand for financing. Strangely, the Chinese recovery has been off the radar for a few days, even though it was a driving force behind the awakening of the equity markets. +In Asia Pacific this morning, we are more cautious than in the United States. The Nikkei 225 is down 0.37% in Japan, while the Korean KOSPI is down a hefty 1.53%. Even the Australian ASX200 index is down more than 1%. China is also doing poorly, especially the Hang Seng, which is down 1.3% and is now down more than 10% from its January peak. Regularly against the tide, India grabs a few points. +Economic highlights of the day: +In the United States, the Empire Manufacturing index for February and the retail sales for January will be announced at 8:30 am, before the industrial production for January at 9:15 am. At 10:00 am, the NAHB house price index for February and business inventories will be released. All the agenda here. +The dollar is back up to 0.9330 EUR. Gold is trading at 1834 USD per ounce. Oil is losing ground, with North Sea Brent crude at USD 85.05 a barrel and US WTI light crude at USD 78.65. The yield on 10-year US debt is climbing back to 3.74%. Bitcoin is climbing back up to USD 22,400. + +In corporate news: + +* TSMC was down 6% in pre-market trading as Berkshire Hathaway cut its stake in the Taiwanese chipmaker by 86.2%. Warren Buffett's investment firm also sold shares in US Bancorp, Bny Mellon, Chevron, Activision Blizzard and Kroger but increased its stake in Apple. +* Airbnb expects to report higher-than-consensus revenue for the current quarter, thanks to strong demand and tight control of its expenses. The short-term accommodation rental platform was gaining more than 9% in pre-market trading + +Analyst recommendations: + +Akamai Technologies: RBC Capital Markets cut the recommendation to sector perform from outperform. PT set to $85. +Dick's Sporting Goods: Loop Capital Markets initiated coverage with a recommendation of hold. Price target set to $130. +Ecolab: RBC Capital Markets raised the recommendation to outperform from sector perform. PT set to $185, implies a 17% increase from last price. +Entegris: Needham & Co raised the target to $100 from $86. Maintains buy rating. +IPG Photonics: Stifel raised the target to $145 from $110. Maintains buy rating. +Prudential: DBS Bank initiated coverage with a recommendation of buy. PT upgrades 34% to 1,732 pence. +Rogers: B Riley Securities initiated coverage with a recommendation of buy. Price target increases 22% to $180. +Southwest Airlines: Melius Research downgrades to hold from buy. PT set to $39. +TD Synnex: Barclays set price target to $109 with a recommendation of equal-weight. +TE Connectivity: Stifel cut the recommendation to hold from buy. PT set to $130. +Terex: Citi downgrades to neutral from buy. Price target set to $63. + Wesco International: RBC Capital Markets raised the target to $200 from $163. Maintains outperform rating. + + diff --git a/news/ABNB/2023.02.15/S&P 500 ends higher after strong retail sales data.txt b/news/ABNB/2023.02.15/S&P 500 ends higher after strong retail sales data.txt new file mode 100644 index 0000000000000000000000000000000000000000..bfd1a0db7ab7969eb67bede739eea8cd2c5fbdf8 --- /dev/null +++ b/news/ABNB/2023.02.15/S&P 500 ends higher after strong retail sales data.txt @@ -0,0 +1,43 @@ +(Updates with price moves after end of trading session)*Retail sales up 3% in Jan vs. est. of 1.8% rise*TSM slides as Berkshire Hathaway chops stake*Devon Energy drops on profit miss*Indexes: S&P 500 +0.28%, Nasdaq +0.92%, Dow +0.11%Feb 15 (Reuters) - The S&P 500 ended higher on Wednesday +after stronger-than-expected retail sales data offered evidence +of resilience in the U.S. economy, but gains were capped as +investors worried about more interest rate hikes by Federal +Reserve in the months ahead.A Commerce Department report showed retail sales surged 3% +in January as purchases of motor vehicles and other goods pushed +the number well past the 1.8% estimate from economists polled by +Reuters.On Tuesday, data showed U.S. consumer prices accelerated in +January, boosting expectations that the Fed will raise the +policy rate at least twice more this year to the 5-5.25% range."The good news from retail, and broadly from the stronger +economy, has been mostly priced in," said Ross Mayfield, an +investment strategist at Baird in Louisville, Kentucky. "At the +same time, that strength has taken market expectations of rate +cuts off the table and moved the terminal Fed funds rate a +little bit higher."Fueled by a rebound in growth stocks that were hammered in +last year's stock market downturn, the S&P 500 has +climbed 8% so far in 2023, while the Nasdaq has +recovered 15%. A better-than-expected quarterly earnings season +has provided cautious optimism.More than half of all S&P 500 companies have reported +quarterly earnings, and nearly 70% of those have topped profit +expectations, according to I/B/E/S data from Refinitiv. That +compares to a long-term average of 66%.Apple, Alphabet, Amazon and +Tesla rose between 1.4% and 2.4%, driving gains in the +S&P 500 and Nasdaq.The S&P 500 climbed 0.28% to end the session at 4,147.61 +points.The Nasdaq gained 0.92% to 12,070.59 points, while Dow +Jones Industrial Average rose 0.11% to 34,128.05 points.Nine of the 11 S&P 500 sector indexes rose, led by a +1.2% gain in consumer discretionary.Roblox soared 26% after the gaming platform popular +with kids topped quarterly bookings estimates.U.S.-listed shares of Taiwan Semiconductor Manufacturing Co +(TSMC) fell 5.3% after Warren Buffett's Berkshire +Hathaway Inc slashed its stake in the chipmaker.Shares of Airbnb Inc rose over 13% after the +company posted forecast-beating results due to strong travel +demand.Devon Energy slumped about 10% after the shale oil +producer missed expectations for quarterly profit due to a hit +to production from severe cold weather in the United States and +higher expenses.After the bell, Roku surged 14% following a revenue +forecast that beat analysts' expectations.Across the U.S. stock market, advancing stocks +outnumbered falling ones by a 1.4-to-one ratio.The S&P 500 posted 19 new highs and no new lows; the +Nasdaq recorded 84 new highs and 55 new lows.Volume on U.S. exchanges was relatively light, with 10.5 +billion shares traded, compared to an average of 11.8 billion +shares over the previous 20 sessions.(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and by Noel Randewich in Oakland, Calif., additional reporting +by Shristi Achar A; Editing by Savio D'Souza, Anil D'Silva and +David Gregorio) \ No newline at end of file diff --git a/news/ABNB/2023.02.15/S&P 500, Dow slip after retail sales data; megacaps lift Nasdaq.txt b/news/ABNB/2023.02.15/S&P 500, Dow slip after retail sales data; megacaps lift Nasdaq.txt new file mode 100644 index 0000000000000000000000000000000000000000..67837322d182999fd5d844d90fa33ffbdaec692b --- /dev/null +++ b/news/ABNB/2023.02.15/S&P 500, Dow slip after retail sales data; megacaps lift Nasdaq.txt @@ -0,0 +1,40 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Retail sales up 3% in Jan vs. est. of 1.8% rise*TSM slides as Berkshire Hathaway chops stake*Devon Energy drops to S&P 500 bottom on profit miss*Indexes: Dow down 0.42%, S&P down 0.27%, Nasdaq up 0.16%Feb 15 (Reuters) -The S&P 500 and the Dow fell on Wednesday after +stronger-than-expected retail sales data offered more evidence +of resilience in the U.S. economy, fueling concerns that the +Federal Reserve could stick to its rate-hike campaign.Gains in megacap stocks including Apple, +Alphabet and Tesla, however, kept the +tech-heavy Nasdaq afloat.A Commerce Department reportshowedU.S. retail sales increased by the most in nearly two years +in January after two straight monthly declines as Americans +boosted purchases of motor vehicles and other goods. Economists +polled by Reuters had forecast sales would increase 1.8%."All of the data continues to point towards how strong +the economy is and if you want the Fed to stop tightening, you +want to see a little weakness to give them cover," said Thomas +Hayes, chairman at Great Hill Capital LLC in New York."The consumer is strong despite the fact that their +savings are going down. People still have jobs and they're going +to spend and that's evident in the numbers this morning."The benchmark S&P 500 came under pressure on Tuesday after +data showed U.S. consumer prices accelerated in January, +boosting expectations that the U.S. central bank will raise the +policy rate at least twice more this year to the 5-5.25% range.Still, the index is up 7.5% so far this year after a +19.4% slump in 2022, supported by better-than-expected earnings +reports and a rebound in growth stocks.At 12:52 p.m. ET, the Dow Jones Industrial Average +was down 143.71 points, or 0.42%, at 33,945.56 and the +S&P 500 was down 11.18 points, or 0.27%, at 4,124.95The Nasdaq Composite was up 19.26 points, or 0.16%, +at 11,979.40."Tech and growth stocks are benefiting on hopes that the +U.S. economy won't have a recession and that favorite mega-cap +tech plays will lead the way," said Edward Moya, senior market +analyst at Oanda."Investors still believe in the U.S. economy and they +are growing confident that the worst is over for tech."Eight of 11 major S&P 500 sectors slid, with a 2.6% drop in +the energy index leading declines as oil prices fell.U.S.-listed shares of Taiwan Semiconductor Manufacturing Co +(TSMC) fell 6% after Warren Buffett's Berkshire Hathaway +Inc slashed its stake in the chipmaker.Airbnb Inc jumped 12.8% after the vacation rental +firm's fourth-quarter results beat market expectations.Devon Energy slumped 12.5% after the shale oil +producer missed expectations for quarterly profit due to a hit +to production from severe cold weather in the United States and +higher expenses.Declining issues outnumbered advancers for a 1.50-to-1 +ratio on the NYSE. Advancing issues outnumbered decliners by a +1.12-to-1 ratio on the Nasdaq.The S&P index recorded 13 new 52-week highs and no new +lows, while the Nasdaq recorded 42 new highs and 40 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru, +additional reporting by Shristi Achar A; Editing by Savio +D'Souza and Anil D'Silva) \ No newline at end of file diff --git a/news/ABNB/2023.02.15/Stocks end higher after strong retail sales data.txt b/news/ABNB/2023.02.15/Stocks end higher after strong retail sales data.txt new file mode 100644 index 0000000000000000000000000000000000000000..ddc14f9890da9c26e1168f2f8156c25acea61b98 --- /dev/null +++ b/news/ABNB/2023.02.15/Stocks end higher after strong retail sales data.txt @@ -0,0 +1 @@ +The Dow closed up fractionally, the S&P gained about three-tenths of a percent and the Nasdaq climbed just shy of one percent.A Commerce Department report showed retail sales rebounded strongly in January, surging 3% - well past the 1.8% estimate from economists polled by Reuters.That means consumers are still buying cars and other goods despite high prices - as data a day earlier showed that consumer prices ticked up in January even though the pace of inflation is slowing."In my opinion, it all starts with the labor market..."Devon Drew is founder, CEO and CIO of DFD Partners."And the labor market's resilience is the main reason consumers continue to spend. And as long as that's the case, inflation will remain sticky. [FLASH] I'm just looking for the Fed to stay higher for longer, which should put some pressure on stocks and have continued muted returns until we get to that point where there's enough data where we can say, 'Hey, we can actually put a pause on things here."The S&P 500 has climbed 8% so far in 2023, while the Nasdaq has recovered 15% - both fueled by a rebound in growth stocks that were hammered in last year's stock market downturn.On Wednesday, shares of Apple, Alphabet, Amazon and Tesla rose between 1.4% and 2.4%.Roblox soared 26% after the gaming platform popular with kids topped quarterly bookings estimates.And shares of Airbnb rose over 13% after giving a bullish revenue forecast due to strong travel demand. \ No newline at end of file diff --git a/news/ABNB/2023.02.15/US STOCKS-Wall Street mixed as retail sales point to more rate hikes.txt b/news/ABNB/2023.02.15/US STOCKS-Wall Street mixed as retail sales point to more rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..0dc1e6a924bcc205d7e5b1820c5aa8a13042b0a1 --- /dev/null +++ b/news/ABNB/2023.02.15/US STOCKS-Wall Street mixed as retail sales point to more rate hikes.txt @@ -0,0 +1,41 @@ +(Refiles to add dropped word "Street" in headline)*Retail sales up 3% in Jan vs. est. of 1.8% rise*TSM slides as Berkshire Hathaway chops stake*Devon Energy drops to S&P 500 bottom on profit miss*Indexes: S&P 500 -0.12%, Nasdaq +0.32%, Dow -0.26%Feb 15 (Reuters) -Wall Street was mixed on Wednesday after +stronger-than-expected retail sales data offered evidence of +resilience in the U.S. economy, while also fueling expectations +of more interest rate hikes by Federal Reserve in the months +ahead.A Commerce Department report showed retail sales surged 3% +in January, driven by purchases of motor vehicles and other +goods. Economists polled by Reuters had estimated a sales would +increase by 1.8%.That follows data on Tuesday showing U.S. consumer prices +accelerated in January, boosting expectations that the U.S. +central bank will raise the policy rate at least twice more this +year to the 5-5.25% range."The good news from retail, and broadly from the stronger +economy, has been mostly priced in," said Ross Mayfield, an +investment strategist at Baird in Louisville, Kentucky. "At the +same time, that strength has taken market expectations of rate +cuts off the table and moved the terminal Fed funds rate a +little bit higher."Fueled by a rebound in growth stocks that were hammered in +last year's stock market downturn, the S&P 500 has climbed +almost 8% so far in 2023. A better than expected quarterly +earnings season has provided cautious optimism.More than half of the S&P 500 firms have reported earnings +so far, and nearly 70% of those have topped profit expectations, +as per Refinitiv data. That compares to a long-term average of +66%.In afternoon trading, the S&P 500 was down 0.12% at +4,131.37 points.The Nasdaq gained 0.32% to 11,998.09 points, while the +Dow Jones Industrial Average was down 0.26% at 34,001.65 points.Of the 11 S&P 500 sector indexes, six declined, led +lower by energy, down 2.05%, followed by a 0.5% loss in +health care.Tesla rose 1.5% with $28 billion worth of the +electric car maker's shares exchanged, equivalent to almost a +quarter of all trading in S&P 500 stocks.Roblox soared 25% after the gaming platform +popular with kidstoppedquarterly bookings estimates.U.S.-listed shares of Taiwan Semiconductor Manufacturing Co +(TSMC) fell 5.6% after Warren Buffett's Berkshire +Hathaway Inc slashed its stake in the chipmaker.Shares of Airbnb Inc and Tripadvisor Inc +rose 14% and 1.6%, respectively, after the companies posted +forecast-beating results due to strong travel demand.Devon Energy slumped almost 12% after the shale oil +producer missed expectations for quarterly profit due to a hit +to production from severe cold weather in the United States and +higher expenses.Advancing issues outnumbered falling ones within the S&P +500 by a 1.1-to-one ratio.The S&P 500 posted 14 new highs and no new lows; the +Nasdaq recorded 52 new highs and 45 new lows.(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and by Noel Randewich in Oakland, Calif., additional reporting +by Shristi Achar A; Editing by Savio D'Souza, Anil D'Silva and +David Gregorio) \ No newline at end of file diff --git a/news/ABNB/2023.02.15/World Press Review: February 15.txt b/news/ABNB/2023.02.15/World Press Review: February 15.txt new file mode 100644 index 0000000000000000000000000000000000000000..28e60aae604f9094c23f047cf547d32671ef2785 --- /dev/null +++ b/news/ABNB/2023.02.15/World Press Review: February 15.txt @@ -0,0 +1,4 @@ + +Kering, Heineken, Barclays, Glencore, LVMH, SAS, Airbus, Boeing, Berkshire Hathaway, Activision Blizzard, Microsoft, TSMC (Taiwan Semiconductor Manufacturing Company), U.S. Bancorp, BNY Mellon, Ally Financial, Chevron, McKesson Corp, Kroger, Apple, Louisiana-Pacific, Paramount Global, TripAdvisor, Airbnb, Reddit, Tesla, Starbucks, Ford  + + diff --git a/news/ABNB/2023.02.16/Airbnb : Earnings Documents.txt b/news/ABNB/2023.02.16/Airbnb : Earnings Documents.txt new file mode 100644 index 0000000000000000000000000000000000000000..8b98ff0a006f85c84db14bd0dc88556c814e6c48 --- /dev/null +++ b/news/ABNB/2023.02.16/Airbnb : Earnings Documents.txt @@ -0,0 +1,653 @@ + + + + Corrected Transcript + + + 14-Feb-2023 + + + Airbnb, Inc. (ABNB) + + + Q4 2022 Earnings Call + + + + + + + + Total Pages: 24 + + + + + + + 1-877-FACTSET www.callstreet.com + + + + + Copyright © 2001-2023 FactSet CallStreet, LLC + + + + + + + + + + + Airbnb, Inc. (ABNB) + + + + + Corrected Transcript + + + + + + + Q4 2022 Earnings Call + + + + + 14-Feb-2023 + + + + + + + + + + + + CORPORATE PARTICIPANTS + + + + + + Ellie Mertz + + + + + David E. Stephenson + + + + + + + Vice President-Finance, Airbnb, Inc. + + + + + Chief Financial Officer & Head-Employee Experience, Airbnb, Inc. + + + + + + + Brian Chesky + + + + + + + + + Chairman, Chief Executive Officer & Co-Founder, Airbnb, Inc. + + + + + + + + ..................................................................................................................................................................................................................................................................... + + + OTHER PARTICIPANTS + + + + + + Jed Kelly + + + + + Chris Kuntarich + + + + + + + Analyst, Oppenheimer & Co., Inc. + + + + + Analyst, UBS Securities LLC + + + + + + + Richard J. Clarke + + + + + Kevin Kopelman + + + + + + + Analyst, Bernstein Autonomous LLP + + + + + Analyst, Cowen and Company + + + + + + + Ronald Josey + + + + + Stephen Ju + + + + + + + Analyst, Citigroup Global Markets, Inc. + + + + + Analyst, Credit Suisse Securities (USA) LLC + + + + + + + Mark Mahaney + + + + + Doug Anmuth + + + + + + + Analyst, Evercore ISI + + + + + Analyst, JPMorgan Securities LLC + + + + + + + Brian Nowak + + + + + Nicholas Jones + + + + + + + Analyst, Morgan Stanley & Co. LLC + + + + + Analyst, JMP Securities LLC + + + + + + + Lee Horowitz + + + + + Bernie McTernan + + + + + + + Analyst, Deutsche Bank Securities, Inc. + + + + + Analyst, Needham & Co. LLC + + + + + + + John Colantuoni + + + + + Thomas White + + + + + + + Analyst, Jefferies LLC + + + + + Analyst, D.A. Davidson & Co. + + + + + + + Mario Lu + + + + + Deepak Mathivanan + + + + + + + Analyst, Barclays Capital, Inc. + + + + + Analyst, Wolfe Research LLC + + + + + + + Justin Post + + + + + + + + + Analyst, Bank of America/Merrill Lynch + + + + + + + + + + + + + 2 + + + + + + + 1-877-FACTSET www.callstreet.com + + + + + Copyright © 2001-2023 FactSet CallStreet, LLC + + + + + + + + + + + Airbnb, Inc. (ABNB) + + + + + Corrected Transcript + + + + + + + Q4 2022 Earnings Call + + + + + 14-Feb-2023 + + + + + + + + + + + + MANAGEMENT DISCUSSION SECTION + + +Operator: Good afternoon, and thank you for joining Airbnb's Earnings Conference Call for the Fourth Quarter of 2022. As a reminder, this conference call is being recorded, and will be available for replay from the Investor Relations section of Airbnb's website following this call. + + + I will now hand the call over to Ellie Mertz, VP of Finance. Please go ahead. + + + ..................................................................................................................................................................................................................................................................... + + + Ellie Mertz + + + Vice President-Finance, Airbnb, Inc. + + + Thank you. Good afternoon, and welcome to Airbnb's fourth quarter of 2022 earnings call. Thank you for joining us today. On the call today, we have Airbnb's Co-Founder and CEO, Brian Chesky; and our Chief Financial Officer, Dave Stephenson. + + + Earlier today, we issued a shareholder letter with our financial results and commentary for our fourth quarter of 2022. These items were also posted on the Investor Relations section of Airbnb's website. During the call, we'll make brief opening remarks and then spend the remainder of time on Q&A. + + + Before I turn it over to Brian, I would like to remind everyone that we will be making forward-looking statements on this call that involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements due to a variety of factors. These factors are described under forward-looking statements in our shareholder letter and in our most recent filings with the Securities and Exchange Commission. + + + We urge you to consider these factors and remind you that we undertake no obligation to update the information contained on this call to reflect subsequent events or circumstances. You should be aware that these statements should be considered estimates only and are not a guarantee of future performance. + + + Also during this call, we will discuss some non-GAAP financial measures. We provided reconciliations to the most directly comparable GAAP financial measures in the shareholder letter posted to our IR website. These non- GAAP measures are not intended to be a substitute for our GAAP results. + + + And with that, I will pass the call to Brian. + + + ..................................................................................................................................................................................................................................................................... + + + Brian Chesky + + + Chairman, Chief Executive Officer & Co-Founder, Airbnb, Inc. + + + All right. Well, thank you very much, Elie, and good afternoon, everyone. Thanks for joining. Before I share our results, I want to tell a quick personal story. As you may have seen, I've started hosting again. Last November, I listed my guest room on Airbnb. My listing is called Beyond the Airbed. And the room guest's stay in is nostalgically themed around the early years of Airbnb. There's memorabilia in the walls. + + + From the receipt for the original airbed to old photos of me [ph] heckling (00:02:34) boxes of Obama O's and Cap'n McCain's breakfast cereal. When guests arrive, I had welcome basket waiting for them. And the first night we make dinner together, followed by desert. We bake Chesky's Chips, chocolate chip cookies from my cherished family recipe, that I got off Google. + + + + + + + + 3 + + + + + + + 1-877-FACTSET www.callstreet.com + + + + + Copyright © 2001-2023 FactSet CallStreet, LLC + + + + + + + + + + + Airbnb, Inc. (ABNB) + + + + + Corrected Transcript + + + + + + + Q4 2022 Earnings Call + + + + + 14-Feb-2023 + + + + + + + + + + + + The next day, we tour the Airbnb office with my golden retriever, Sophie Supernova, and I tell the story of building Airbnb. Now why am I doing this? Well, because I love hosting. Joe and I were the first host on Airbnb 15 years ago. And having guests staying at your home with you is the original idea behind Airbnb. It's been an amazing way to connect with people. But I also believe that companies that make the best products make products for themselves. + + + And Airbnb will only be as successful as our host. And the best way to understand our host is to be one. Since I've resumed hosting, I've got new first-hand insights that have informed some of the new products we'll be releasing, including some exciting updates this May as part of our 2023 summer release. + + + Now before we get into our quarterly results, I want to recap the full year of 2022. While we're three years out from the start of the pandemic, we are still living with its impact. And we've also seen high inflation, recessionary fears and the war in Ukraine, all of which we're still dealing with in 2023. And yes, through all this, people continue to travel, and 2022 was a record year for Airbnb. + + + Revenue of $8.4 billion grew 40% year-over-year, and when you exclude foreign exchange, our revenue increased by 46% year-over-year. Net income was $1.9 billion, which marks 2022 as our first profitable year - full year on a GAAP basis. + + + And finally, free cash flow was $3.4 billion. And this $3.4 billion of free cash flow represented a free cash flow margin of over 40%. And because of our strong balance sheet, we are able to begin buying back stock last year, and we repurchased $1.5 billion in shares in just the past five months. + + + Now during the height of the pandemic, we made some very difficult choices to reduce our spending, making us a leaner and more focused company, and we've kept this discipline ever since. And over each of the past two years, we've only modestly increased our head count. In fact, compared to 2019, our head count is actually down 5%, while our revenue is up 75%. And every single quarter in 2022 outperformed past comparable periods. + + + In Q4, net income was $319 million. Now this is $264 million higher than a year ago. Adjusted EBITDA was $506 million, which is 52% higher than Q4 of 2021. And we generated $455 million of free cash flow, and this is 20% higher than Q4 2021. Now during the quarter, we saw a number of positive business trends. + + + First, guest demand in Airbnb remained strong. Nights and experiences booked increased 20% in Q4. We had our highest number of active bookers ever in Q4, demonstrating guest excitement to travel on Airbnb despite evolving macroeconomic uncertainties. And during the quarter, we also continued to see guest booking trips further advance, supporting a strong backlog for Q1. + + + Second, guests are increasingly returning to cities and crossing borders. And this is the bread-and-butter of Airbnb before the pandemic. Now, both segments continued to accelerate, while non-urban and domestic travel remained strong, cross-border gross nights book increased 49% compared to last year. High-density urban nights grew 22%. And globally, we saw cross-border travel to all regions increase, despite continued foreign currency volatility. + + + Third, the guests continue to book longer stays on Airbnb. During Q4, long-term stays remained stable from a year ago at 21% of total gross nights booked on Airbnb. And finally, we saw tremendous growth in our supply on Airbnb. We ended 2022 with 6.6 million active listings. Now excluding all the Mainland China listings we removed + + + + + + + + 4 + + + + + + + 1-877-FACTSET www.callstreet.com + + + + + Copyright © 2001-2023 FactSet CallStreet, LLC + + + + + + + + + + + Airbnb, Inc. (ABNB) + + + + + Corrected Transcript + + + + + + + Q4 2022 Earnings Call + + + + + 14-Feb-2023 + + + + + + + + + + + + in July, we grew supply by 900,000 listings, or 16% compared to a year ago, representing an acceleration in growth in listings relative to Q3. + + + Now why are listings accelerating in growth? We believe there's probably two factors that drove this growth. First, demand drives supply. Hosts are attracted to supplemental income they can earn on Airbnb, which is often critical during tough times. Second, our product improvements are working. Over the past two years, we've made it more attractive and easier to become a host. Just this past November, we introduced Airbnb Setup, where prospective hosts can connect with Superhosts for free one-to-one guidance all the way through their first reservation. The number of new active hosts recruited with the help of our Superhosts increased by more than 20% compared to prelaunch. But we are not stopping there. + + + In 2023, we're focused on three strategic priorities. First, we want to make hosting mainstream. If you're listening to this call, you've likely traveled an Airbnb or you know someone who has. We want hosting on Airbnb to be just as popular, and to achieve this, we'll continue to raise awareness around hosting, make it easier to get started, and provide even better tools for host. + + + Second, we are perfecting our core service. We want people to love our service, and that means obsessing over every single detail. And we've listened to our hosts and guests, and based on their feedback, we're making a large number of upgrades to our service this year, including improving customer service, making it easier to find the right home, and delivering greater value and much, much more. And you'll see more of this in the forthcoming + + + +in the coming months, especially our summer release. + + + + And finally, third, we're expanding beyond the core. We have some pretty big ideas for where to take Airbnb next. And this year, we're going to build the foundation for future products and services that will provide incremental growth for many years to come. + + + So with that, Dave and I look forward to answering your questions. + + + + + + + + 5 + + + + + + + 1-877-FACTSET www.callstreet.com + + + + + Copyright © 2001-2023 FactSet CallStreet, LLC + + + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Airbnb Inc. published this content on 16 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 16:38:07 UTC. + + diff --git a/news/ABNB/2023.02.16/Portugal ends Golden Visas, curtails Airbnb rentals to address housing crisis.txt b/news/ABNB/2023.02.16/Portugal ends Golden Visas, curtails Airbnb rentals to address housing crisis.txt new file mode 100644 index 0000000000000000000000000000000000000000..37cb76ea1b4f2dfb2511514b31124f97b70f2f02 --- /dev/null +++ b/news/ABNB/2023.02.16/Portugal ends Golden Visas, curtails Airbnb rentals to address housing crisis.txt @@ -0,0 +1 @@ +Portugal is one of the poorest countries in Western Europe. More than 50% of workers earned less than 1,000 euros per month last year while rents and house prices have skyrocketed. In Lisbon alone, rents jumped 37% in 2022.Low salaries, a red-hot property market, policies encouraging wealthy foreigners to invest and a tourism-dependent economy has for years made it hard for locals to rent or buy, housing groups say. Portugal's 8.3% inflation rate has exacerbated the problem. Prime Minister Antonio Costa told a news conference the crisis was now affecting all families, not just the most vulnerable.It is not clear when the measures, worth at least 900 million euros ($962.19 million), will come into effect. Costa said some would be approved next month and others will be voted on by lawmakers. A mechanism would be introduced to regulate rent increases, he added, and the government will offer tax incentives to landlords who convert tourism properties into houses for locals to rent. New licenses for tourism accommodations, such as Airbnbs, will be prohibited - except in less populated rural areas. To address the housing shortage, Costa said the state would rent vacant houses direct from landlords for a period of five years and put them on the rental market. Portugal's golden visa programme, which offers EU passports to non-EU nationals in return for investments including in real estate and has been criticised for sending house prices and rents up, will end, Costa said.The scheme attracted 6.8 billion euros in investment since its launch in 2012, with the bulk of the money going into real estate.Housing groups said the measures would mean little if the government continued to promote other policies to attract wealthy foreigners to Portugal, such as the "Digital Nomads Visa" introduced in October, which gives foreigners with high monthly income from remote work to live and work from Portugal without paying local taxes.At a small housing protest in Lisbon, 23-year-old activist Andreia Galvao accused the government of failing to live up to promises it made to address the housing crisis in the past."The goal was that by 2024 all Portuguese would have access to quality housing - it doesn't look like that will happen," she said. "The situation is dramatic."($1 = 0.9354 euros) (Reporting by Patricia Rua, Catarina Demony and Sergio Goncalves; Editing by Aislinn Laing and Sandra Maler)By Patricia Vicente Rua and Catarina Demony \ No newline at end of file diff --git a/news/ABNB/2023.02.23/Casa Mimosa Launches Miami Airbnb with Pool To Start Off 2023.txt b/news/ABNB/2023.02.23/Casa Mimosa Launches Miami Airbnb with Pool To Start Off 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..2036fbdbc82ba6ef8190a3f1cec1f19219ba32ec --- /dev/null +++ b/news/ABNB/2023.02.23/Casa Mimosa Launches Miami Airbnb with Pool To Start Off 2023.txt @@ -0,0 +1 @@ +Casa Mimosa, a luxurious Miami Airbnb with pool, has announced the launch as a short-term rental in Miami. The stunning vacation rental villa, located in Miami, is the perfect getaway for those seeking a luxurious and comfortable vacation experience.MIAMI, FLORIDA - Casa Mimosa, a luxurious Miami Airbnb with pool, has announced the launch as a short-term rental in Miami. The stunning vacation rental villa, located in Miami, is the perfect getaway for those seeking a luxurious and comfortable vacation experience.Casa Mimosa is the ideal vacation rental for travelers who are looking for a relaxing, yet upscale atmosphere. The luxury villa is spacious, and elegant, and features world-class amenities that guests will surely enjoy. This newly added feature - an outdoor pool - elevates the guest experience even further.Private Pool for GuestsThe private pool at Miami's Casa Mimosa is an excellent addition to an already impressive list of amenities. The outdoor pool area is beautifully designed, featuring comfortable lounge chairs and ample shade to keep guests cool and relaxed. This private pool is perfect for guests who want to take a dip, soak up some sun, and take a break from the bustling downtown Miami city life. It has quickly become the best Airbnb in Miami Florida with pool.Luxurious AccommodationsCasa Mimosa boasts luxurious accommodations, including three beautifully appointed bedrooms. The villa can comfortably accommodate up to nine guests, making it perfect for families and groups of friends. The bedrooms are spacious and feature comfortable beds with high-quality linens, making for a restful night's sleep. Casa Mimosa has all the amenities you expect at a 5-star hotel, but with the optionality to experience the Magic City on your own terms.Elegant InteriorsThe interiors of Casa Mimosa are nothing short of breathtaking. The villa features an elegant living room, a formal dining area, and a modern, fully equipped kitchen. The living room is spacious and has plenty of seating, making it an ideal spot for relaxing and socializing with a foosball table. The dining area is perfect for formal meals or intimate gatherings. The kitchen is fully equipped with high-end appliances, making it a joy to cook in.Prime LocationCasa Mimosa's location is perfect for those who want to experience the best of Miami. The villa is situated in a quiet, upscale Brickell neighborhood, providing guests with easy access to everything in Miami. However, it is also just minutes away from the city's best attractions, including world-class restaurants, nightlife, and shopping.Unmatched Guest ExperienceAt Casa Mimosa, guests can expect an unmatched vacation experience. The villa's management team is dedicated to providing excellent customer service, ensuring that guests have everything they need to enjoy their stay. With the outdoor pool, Casa Mimosa is the ultimate Miami vacation rental for those who want to indulge in luxury and relaxation.Casa Mimosa Miami Airbnb with Pool is the perfect place for travelers who are looking for a luxurious and relaxing vacation experience. Casa Mimosa has taken guest comfort and luxury to the next level. Guests can enjoy spacious accommodations, elegant interiors, and a prime location, all while being treated to excellent customer service. The launch of the private outdoor pool is sure to make Casa Mimosa an, even more, sought-after vacation rental in Miami.Media ContactCompany Name: CasaMimosaContact Person: Abbe SmithEmail: casamimosa@gmail.comPhone: (786) 394-7748City: MiamiState: FloridaCountry: United StatesWebsite: https://www.airbnb.com/rooms/712799594068983935Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/ABNB/2023.02.24/U.S. travel companies experience high demand but economic worries cloud outlook.txt b/news/ABNB/2023.02.24/U.S. travel companies experience high demand but economic worries cloud outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..c56b9e2f61b31e025f786a755bf38fbd2f94582c --- /dev/null +++ b/news/ABNB/2023.02.24/U.S. travel companies experience high demand but economic worries cloud outlook.txt @@ -0,0 +1 @@ +Several big names in the travel and leisure industry, including Airbnb Inc, Hilton Worldwide Holdings and Royal Caribbean Cruises are reporting faster rates of bookings in 2023 than in 2019 prior to the coronavirus pandemic. U.S. travel spending in December 2022 totaled $97 billion, 3% above 2019 levels and 7% above 2021 levels, according to the U.S. Travel Association.The demand contrasts with declining home improvement sales and other discretionary purchases that have hurt furniture stores and retailers like Home Depot. "Investors are increasingly becoming more comfortable that we are not going to see a travel pullback in the first half of the year, but the back half of the year remains to be seen," said Patrick Scholes, Truist Securities managing director.International travel spurred demand growth for Airbnb and Marriott International Inc in the fourth quarter. Short-term rental demand in December increased 33% compared to 2019, according to data from analytics firm AirDNA. American Express said bookings through its consumer travel business were 50% higher in the fourth quarter compared to pre-pandemic levels, the strongest rate that the credit card company has seen since the beginning of the recovery.Online travel company Booking Holdings Inc CEO Glenn Fogel said on Thursday that January 2023 set a new record for monthly room night bookings. But that is having an effect on other retailers. "You can't fight the tide (with consumer spending) going back to services, people traveling and whatnot," said Home Depot CEO Edward Decker on an earnings call earlier this week. However, Hilton said it anticipates demand will plateau as the economy slows in the second half of 2023, Chief Executive Officer Christopher Nassetta told investors on a call.Group bookings are still down 15% compared to pre-pandemic levels as headwinds in several industries continue to affect business travel, said Truist's Scholes.And U.S. travel companies with large exposure to China, the largest outbound travel market in the world before the pandemic, were cautious in sales guidance, noted AB Bernstein Analyst Richard Clarke, even as they expect demand to rebound. Hyatt Hotels said its occupancy in China in the first weeks of February was higher than in the United States."We believe there's still further upside in 2023, especially now that China's borders have reopened," Marriott Chief Executive Anthony Capuano told investors. (Reporting by Doyinsola Oladipo in New York; Editing by Kirsten Donovan)By Doyinsola Oladipo \ No newline at end of file diff --git a/news/ABNB/2023.02.27/Airbnb to Participate in the Morgan Stanley Technology, Media & Telecom Conference.txt b/news/ABNB/2023.02.27/Airbnb to Participate in the Morgan Stanley Technology, Media & Telecom Conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..29a07518cd35270bc996790a554dfeb714b08d2e --- /dev/null +++ b/news/ABNB/2023.02.27/Airbnb to Participate in the Morgan Stanley Technology, Media & Telecom Conference.txt @@ -0,0 +1,17 @@ + + +SAN FRANCISCO, Feb. 27, 2023 /PRNewswire/ -- Airbnb, Inc. (NASDAQ: ABNB) announced today that Chief Executive Officer, Brian Chesky, will speak at the Morgan Stanley Technology, Media & Telecom Conference on Monday, March 6, 2023 beginning at 2:40pm PT / 5:40pm ET. A live webcast of the session will be available to the public at https://cc.webcasts.com/morg007/030623a_js/?entity=93_BVGR8K3. A replay will be made available on the Investor Relations website at https://investors.airbnb.com. + + + + + + + +About AirbnbAirbnb was born in 2007 when two Hosts welcomed three guests to their San Francisco home, and has since grown to over 4 million Hosts who have welcomed 1.4 billion guest arrivals in almost every country across the globe. Every day, Hosts offer unique stays and experiences that make it possible for guests to connect with communities in a more authentic way. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/airbnb-to-participate-in-the-morgan-stanley-technology-media--telecom-conference-301755578.html +SOURCE Airbnb, Inc. + + diff --git a/news/ABNB/2023.02.27/One Year Later : Airbnb.org's support for people fleeing the war in Ukraine.txt b/news/ABNB/2023.02.27/One Year Later : Airbnb.org's support for people fleeing the war in Ukraine.txt new file mode 100644 index 0000000000000000000000000000000000000000..2a2bd9a1dd97840c9fc5753fdd8c5679cf055ce6 --- /dev/null +++ b/news/ABNB/2023.02.27/One Year Later : Airbnb.org's support for people fleeing the war in Ukraine.txt @@ -0,0 +1 @@ +A year ago, Airbnb.org committed to connecting up to 100,000 people fleeing the war in Ukraine to free, temporary housing. As the world marks one year since the start of the conflict in Ukraine, Airbnb.org has helped connect nearly 130,000 people to free stays. These stays were funded by Airbnb, Inc., other donors to Airbnb.org, and the generosity of Hosts who offered free and discounted stays through Airbnb.org.This work was also made possible by Airbnb.org's trusted humanitarian partners that helped book and coordinate stays for refugee guests. Airbnb.org has worked with more than 40 organizations around the world to provide temporary accommodation to people fleeing Ukraine.Today, Airbnb.org continues to work with its global network of nonprofit organizations to assist refugees from Ukraine, where renewed violence and harsh winter conditions have intensified the need for housing.In Europe, partners including Alight, International Organization for Migration, and Phineo continue to help families fleeing Ukraine.In the US, HIAS and Church World Service are some of the partners that are helping place refugees from Ukraine into temporary stays.In Canada, CUIAS, Calgary Catholic Immigration Society, Jewish Immigrant Aid Service (JIAS) and others are welcoming those fleeing the conflict in Ukraine.In addition, Airbnb.org grew its network of organizations in 2022 to include Nova Ukraine, Global Empowerment Mission (GEM), EURORDIS and Phineo- as well as hyperlocal community-based organizations such as Community Sponsorship Hub to better serve people in need. These partnerships are one way Airbnb.org expressed its ongoing commitment to diversity, equity, inclusion, and accessibility.Throughout the Ukraine crisis GEM has assisted thousands of individuals and families with their need to relocate globally. We are grateful for the collaboration and support of Airbnb.org, which has allowed us to offer displaced individuals a safe and healthy environment in an otherwise stressful and disheartening situation.Michael Capponi, Founder and President of Global Empowerment Mission Inc.To support this response, more than 48,000 Hosts from 160 countries and regions around the world offered to open up their homes to refugees through Airbnb.org. To date, refugees fleeing Ukraine have found refuge with Hosts across more than 98 countries and regions, including Germany, Poland, Denmark, Romania, Hungary, the US and Canada.Supporting refugees is core to Airbnb.org's work, and it remains dedicated to working with partners to offer help to people fleeing Ukraine, as well as displaced people impacted by the earthquakes in Turkiye and Syria and other crises, in the months to come.People interested in supporting this critical work can visit airbnb.org to donate. Currently, all donations will be matched up to a total of $5 million USD. That means every gift will have twice the impact, and will help fund the cost of housing for people in times of crisis.About AirbnbAirbnb was born in 2007 when two Hosts welcomed three guests to their San Francisco home, and has since grown to over 4 million Hosts who have welcomed more than 1 billion guest arrivals across over 220 countries and regions. Travel on Airbnb keeps more of the financial benefits of tourism with the people and places that make it happen. Airbnb has generated billions of dollars in earnings for Hosts, most of whom are individuals listing the homes in which they live. Among Hosts who report their gender, more than half are women, and one in five employed Hosts are either teachers or healthcare workers. Travel on Airbnb also has generated more than $4 billion in tax revenue around the world. Airbnb has helped advance more than 1,000 regulatory frameworks for short-term rentals, including in 80% of our top 200 geographies. In late 2020, to support our continued expansion and diversification, we launched the City Portal to provide governments with a one-stop shop that supports data sharing and compliance with local registration rules. We continue to invest in innovations and tools to support our ongoing work with governments around the world to advance travel that best serves communities.About Airbnb.orgAirbnb.org is a nonprofit organization dedicated to facilitating temporary stays for people in times of crisis around the world. Airbnb.org operates independently and leverages Airbnb, Inc.'s technology, services, and other resources at no charge to carry out Airbnb.org's charitable purpose. The inspiration for Airbnb.org began in 2012 with a single host named Shell who opened up her home to people impacted by Hurricane Sandy. This sparked a movement and marked the beginning of a program that allows Hosts on Airbnb to provide stays for people in times of need. Since then, the program has evolved to focus on emergency response and to help provide stays to evacuees, relief workers, refugees, asylum seekers, and frontline workers fighting the spread of COVID-19. Since then, Hosts have offered to open up their homes and helped provide accommodations to 100,000 people in times of need. Airbnb.org is a separate and independent entity from Airbnb, Inc. Airbnb, Inc. does not charge service fees for Airbnb.org supported stays on its platform.Airbnb PressAirbnb Press OfficeAirbnb(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/ABNB/2023.03.01/Alphabet's CapitalG appoints insider Laela Sturdy as managing partner.txt b/news/ABNB/2023.03.01/Alphabet's CapitalG appoints insider Laela Sturdy as managing partner.txt new file mode 100644 index 0000000000000000000000000000000000000000..8c6f1d501f2f396c35d81f1229a0bccb0739d0c1 --- /dev/null +++ b/news/ABNB/2023.03.01/Alphabet's CapitalG appoints insider Laela Sturdy as managing partner.txt @@ -0,0 +1 @@ +Sturdy has headed some of the firm's most notable investments in companies such as Stripe, UiPath Inc and Duolingo Inc. She has been at Google since 2007 and had joined CapitalG shortly after its founding in 2013. The venture capital firm is independent of Alphabet in its investment decisions and has backed major companies such as Airbnb Inc, Lyft Inc, Zscaler Inc and Robinhood Markets Inc over the past decade. (Reporting by Anirban Chakroborti in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/ABNB/2023.03.03/Airbnb cuts recruiting staff by 30%.txt b/news/ABNB/2023.03.03/Airbnb cuts recruiting staff by 30%.txt new file mode 100644 index 0000000000000000000000000000000000000000..09d6da486e1b0b8460f29ab3d61f620e0e207f5d --- /dev/null +++ b/news/ABNB/2023.03.03/Airbnb cuts recruiting staff by 30%.txt @@ -0,0 +1 @@ +The decision, first reported by Bloomberg News, affected less than 0.4% of the San Francisco-based company's total workforce of about 6,800, the spokesperson said."We've become a leaner and more focused company over the last three years," Airbnb spokesperson said in a statement, adding that the company expects to grow its headcount this year. The company said in February it expects headcount growth in the range of 2% to 4% in 2023, compared with 11% growth last year. In 2020, amid the COVID-19 pandemic, Airbnb laid off 25% of its workforce, or nearly 1,900 employees, after its business was hit hard as global travel came to a standstill. (Reporting by Kannaki Deka in Bengaluru; Editing by Shinjini Ganguli) \ No newline at end of file diff --git a/news/ADBE/2023.01.05/Heavy discounts drive record U.S. online holiday spending - report.txt b/news/ADBE/2023.01.05/Heavy discounts drive record U.S. online holiday spending - report.txt new file mode 100644 index 0000000000000000000000000000000000000000..5a1442f653eb61c92070ef2726030450267e6b8a --- /dev/null +++ b/news/ADBE/2023.01.05/Heavy discounts drive record U.S. online holiday spending - report.txt @@ -0,0 +1 @@ +Shoppers spent a record $211.7 billion online over the holiday season, which typically starts in November and ends in December, compared with an earlier forecast of $209.7 billion, the report showed on Thursday.While U.S. online holiday sales rose, it grew at the slowest pace as consumers felt the brunt of rising prices. "At a time when consumers were dealing with elevated prices in areas such as food, gas, and rent, holiday discounts were strong enough to sustain discretionary spending through the entire season," said Vivek Pandya, lead analyst, Adobe Digital Insights.Companies ranging from Amazon.com Inc, Target Corp, Walmart Inc to Best Buy Co Inc offered early discounts to spur demand and get rid of excess stock.Adobe Analytics, which measures e-commerce by tracking transactions at websites, has access to data covering purchases at 85% of the top 100 internet retailers in the United States.Majority of the discounts were for toys, where discounts peaked at 34% off listed price versus 19% last year, as well as electronics that saw discounts as high as 25% compared with 8% last year, according to the report.A big chunk of the holiday sales came during the Cyber Week - the five days between Thanksgiving and Cyber Monday - where consumers spent a total of $35.3 billion online, the report said. (Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Shinjini Ganguli) \ No newline at end of file diff --git a/news/ADBE/2023.01.06/Retirement-ready : Get a checklist of documents you'll need at any age.txt b/news/ADBE/2023.01.06/Retirement-ready : Get a checklist of documents you'll need at any age.txt new file mode 100644 index 0000000000000000000000000000000000000000..5583c6c7d2226220af43769f508fc1c92b8424a9 --- /dev/null +++ b/news/ADBE/2023.01.06/Retirement-ready : Get a checklist of documents you'll need at any age.txt @@ -0,0 +1,188 @@ + + + Retirement-ready: Get a checklist of documents you'll need at any age + + + + In this article + + + + Retirement information for the student or young professional + + + Retirement information for your 20s + + + Retirement information for your 30s + + + Retirement information for your 40s + + + Retirement information for 50+ + + + When you should collect your Social Security + + + Start preparing for retirement today + + + + + Many of us spend more time daydreaming about retirement than actually getting ready for it. It's easy to imagine lounging on the beach or finally starting your novel after leaving the workforce, but preparing for your post-work plans requires careful saving and planning. + + + It can be tempting to put off retirement preparations until your 30s or 40s or expect to roll into retirement without much risk or reflection. But your future shouldn't just be an afterthought. You can take simple steps at any age to gear up for retirement, leading to less stress and greater savings later in life. + + + Your decisions and financial strategies affect your ability to live the lifestyle you want and manage unexpected costs in the future. Whether you're a college student or senior citizen, it's important to maximize your money management and make sure you comprehend, compile, and complete all the relevant documents for retirement. + + + Retirement planning can feel overwhelming, and it can be confusing to know which forms you'll need to prepare effectively. To help you get on the right track and boost your financial fitness across your lifetime, we've gathered a checklist of documents to collect throughout your career. For each age range, we've also included some quick questions to ask yourself to strengthen your savings strategy. + + + Retirement information for the student or young professional + + + Saving for retirement is usually far off the radar when you start college or begin your career. Taking a percentage out of your paycheck can feel like an unnecessary stretch when money is tight, and most young people focus on just getting by and paying rent, groceries, and tuition, while having some to spend. + + But getting a retirement savings strategy together at this stage can be a game-changer. The sooner you start investing, no matter how small the amount, the more you can save in the long run. + + For example, even if you only invest $50 per month into a retirement account starting at age 18, the $28,200 you've contributed by age 65 can add up to more than $220,000 with a 7 percent interest rate and daily compounding schedule. If you begin investing later at age 25 and contribute a little more at $75 monthly with the same parameters, your total amount will come to around $198,000 - almost $22,000 less than if you had started investing $50 monthly at 18. + + + Establishing a habit of making retirement contributions early on can make saving become second nature. Once you have a job, prioritize investing in an individual retirement account (IRA) or 401(k) plan account. Many employers match retirement contributions at least partially to a certain extent, meaning you can potentially double your savings. + + +https://blog.adobe.com/en/promotions/products/document-cloud/acrobat + + + + + As you begin your retirement savings strategy, keep a careful record of your financial documents. Digital documents are the way to go, as it's easier to store and find important forms for quick reference. Make sure to designate a digital folder where you can start storing IRA or 401(k) annual statements, W-2s, and 1099 forms. It's also a good idea to digitize critical documents like your Social Security card, birth certificate,and proof of citizenship, which you'll need throughout your life to validate your identity and apply for benefits. + + You can prepare for retirement almost without effort, thanks to automatic payroll deductions or account transfer options. While building your income and creating a budget, look for areas where you can be more frugal. Avoiding the urge to splurge will benefit you in the long run, and your future self will thank you. + + + Don't forget to set aside an emergency fund with your savings. Life happens - and while you can't predict everything, it's essential to plan ahead for unexpected costs. + + + Retirement information for your 20s + + + As you increase your income and progress professionally, create a plan for making the most of your money. Now is the time to start upping your retirement contribution and putting any promotions and raises to good use. + + While you're young, you can afford to invest in more aggressive investment portfolio strategies. Although these plans involve greater risk, they also give you the best opportunity for higher returns before you have to worry about additional healthcare or family expenses. Low-risk investments may not stand the test of time with rising inflation rates, and you can eventually lose money since your dollars won't be valued the same years later. + + To build a safety net while maximizing your savings, diversify your investments by exploring the mutual funds, exchange-traded funds, and index funds available within your retirement account and spreading them across different asset classes. If investing feels intimidating, consider working with a financial advisor or reaching out to a mentor. Make sure that you're contributing at least 10 percent of your paycheck to retirement savings and have at least 3 months of living expenses in your emergency fund. + + Continue keeping a careful digital record of your retirement account statements and tax forms. If you switch jobs, make sure to roll over your savings to your new employer's plan to store everything in one place and simplify statements. + + + Retirement information for your 30s + + + Now that you're in your 30s and more established in your career, it's time to ensure you're on track for retirement. If you're planning to leave the workforce around age 65, you should aim to have at least one year's salary saved in your retirement account by now. + + Keep in mind that this is only a general guideline. Managing student loans, family and healthcare expenses, mortgages, and other factors might affect your ability to save, and it's important to be practical about how much you can realistically contribute to retirement savings. + + At the same time, it's important to prioritize regular contributions and look for areas where you can adjust your budget. For example, while you might enjoy going out to get coffee every day, you could save up to $25 a week by limiting it to twice a week. This would add up to around $1,300 in savings within a year - and possibly more if you invested those savings each month. + + + + If you haven't already, max out your 401(k) and take advantage of your employer's match rate if offered. Keep tracking important documents, and remember to monitor and adjust your investment portfolio as needed to confirm that you're not losing more than you're making. Do your research now and get advice from professionals to set your retirement self up for success down the road. + + + Retirement information for your 40s + + + By your 40s, you should have saved about three times your annual salary for retirement. With a solid foundation for your savings, you might want to start thinking more about where your money is going and explore investing strategies to enhance your savings. + + One option is investing in dividend stocks. These investments involve purchasing shares from well-established companies that distribute regular earnings, or dividends, to investors. You can reinvest your dividends to increase your savings or cash out the dividends later when you retire. + + Another way to strengthen your retirement savings is by funding a health savings account (HSA). Medical costs can become one of your largest retirement expenses, and you'll need to prepare to cover insurance premiums and copays, senior healthcare costs, and unexpected procedures or other needs. + + HSAs are available with high-deductible health plans. Contributions to these accounts are tax-deductible, allowing you to earn non-taxable interest as you build your savings. You also can invest your HSA funds in the market to boost growth. + + You can withdraw savings from an HSA to cover qualified medical expenses tax-free, but you'll need to pay a 20 percent penalty and income tax on other withdrawals. Once you turn 65, you may take out the savings without the penalty, but you'll need to pay taxes on non-medical withdrawals. + + While you can use HSA funds for other retirement purposes, it's a good idea to dedicate the account to medical expenses. Don't forget to track your healthcare costs, HSA contributions, distributions, and tax deductions. + + + Retirement information for 50+ + + + As you approach retirement age, take an inventory of your financial situation, thinking about how you can address current concerns and anticipate future needs. Set a target retirement date, and meet with a financial advisor to make sure you're in a good spot to reach your goal. + + You should have six times your salary saved in your retirement account by the time you've reached 50 and about eight times your salary saved by age 60. If your funds aren't within that range, explore different ways to cut costs and increase your investments. You'll also want to focus on paying off any debts or mortgages. + + Make sure to create a Social Security account as you're estimating future benefits and planning ahead. Look at your current expenses, and calculate how much you'll need to maintain or change your lifestyle when you retire. + + This pre-retirement stage is also the perfect time to review your life insurance and disability coverage and prepare legal statements, including your will or estate plan. Store these important documents digitally in a safe place, sharing them with children or family members so they know where to find them. + + + When you should collect your Social Security + + + As you approach your retirement date, think about the best time to request your Social Security benefits. If you want to receive a bigger payment, you might consider postponing your benefits or working longer. + + For every month that you wait to receive your benefits after your full retirement age, your benefits will increase by two-thirds of a percent until you turn 70. This means you could increase your Social Security by 8 percent annually for several years. + + + + For each month you postpone retirement benefits, the total will increase by two-thirds of a percent, until age 70. This could grow your Social Security by 8% every year. + + + + As you think about your future, it's important to have conversations with your family about financial plans and boundaries. Encourage children to be self-reliant and take on financial responsibilities as they transition into adulthood, or talk with your parents about their aging plan. + + Your tracking habits and digital documents will make the benefits application process a breeze. Be sure that you have all the forms you'll need organized and ready to go. + + After you retire, don't let your savings habits fall by the wayside. Continue to plan carefully, and be intentional about how you manage your money. If funds are tight or you'd like extra flexibility, you might consider taking on a part-time job, doing freelance work, or building your investments in dividend stocks. + + + Start preparing for retirement today + + + Preparing for retirement is a long process, but it doesn't have to be stressful. You can take simple steps at every age to save money, organize your documents, and secure your retirement lifestyle. + + + Since retirement documents include personal and financial data, security and compliance are crucial to keep in mind. Adobe Acrobat offers a secure way to create, manage, convert, edit, organize, and store essential digital documents for retirement - including 401(k) or IRA statements, tax forms, inheritance documents, wills, and pension plans. + + + PDFs make it quick and easy to view retirement documents anytime, anywhere, and on any device. With the full set of digital tools in Acrobat, you can modify documents, add comments and other annotations, convert Microsoft Excel files to PDF's, password-protect PDF content, and much more. You can also fill and sign forms, send a document to others and request e-signatures, or use your mobile device as a scanner. + + +Read more about the full features to discover how Adobe Acrobat can help as you prepare your documents for retirement. + + + +https://blog.adobe.com/en/publish/2022/12/22/from-online-house-hunting-e-closing-how-home-buying-process-has-changed + + +https://blog.adobe.com/en/publish/2022/11/29/the-complete-checklist-to-pdf-accessibility + + +https://blog.adobe.com/en/publish/2022/12/16/recognizing-impact-of-adobes-employee-networks-in-2022 + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Adobe Inc. published this content on 06 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 January 2023 14:28:44 UTC. + + diff --git "a/news/ADBE/2023.01.09/Adobe : New year, new you \342\200\224 make Adobe Express a part of your resolutions.txt" "b/news/ADBE/2023.01.09/Adobe : New year, new you \342\200\224 make Adobe Express a part of your resolutions.txt" new file mode 100644 index 0000000000000000000000000000000000000000..fd96bcb1f53e1bb492a2ec97eca336ef8e7fd616 --- /dev/null +++ "b/news/ADBE/2023.01.09/Adobe : New year, new you \342\200\224 make Adobe Express a part of your resolutions.txt" @@ -0,0 +1,69 @@ + + + New year, new you - make Adobe Express a part of your resolutions + + + Ringing in the new year means different things to different people. To some, this means a fresh start. To others, a mental reset. But for many, the most exciting part of a new year is creating New Year's resolutions. Creating lists of potential accomplishments, setting goals to hold yourself accountable, and a general sense of organization all fall under the greater umbrella of creating New Year's resolutions. + + +Adobe Express can help you organize your New Year's resolutions. Use thousands of beautiful and customizable templates to get organized with goals for the year, and schedule social media content weeks in advance. Whether it's needing an invite for a vision board party with friends, setting your fitness goals for the year or spreading the news about a side hustle and small business on social platforms, Adobe Express allows anyone to make standout content quality that will set you apart from the rest. + + +https://blog.adobe.com/en/promotions/creative-cloud-express + + + Making goals for the New Year is only as good as the intention behind them. And what better way to adhere to resolutions than by placing them on some templates that will keep the motivation strong throughout the year. + + + Express for small businesses + + + Small businesses are the backbone of local communities, and a vital way for people to turn a passion into a career and lifestyle. 99.9% of businesses across the United States are small businesses, accounting for 33.2 million companies. As we move into the new year, Adobe Express can help businesses create a fresh, new look while creating beautiful marketing and social templates to give their brand a big boost as we enter the new year. Our annual Adobe Stock 2023 Creative Trends Report can help inform on the trends we can expect to see in the upcoming year and assist in creating a intentional social media presence for what people what to see. Adobe Express also offers a content scheduler tool that will give any brand the opportunity to schedule social posts in advance to ease the stress of managing a business. + + + Express in education + + + Students at many universities are finding ways to use Adobe Express inside and outside of the classroom. Whether working on school projects or creating graphics for clubs, Express can help build digital skills that are in demand by employers. As educators are thinking about how to make their presentations and projects stand out this school year, Adobe Express will help build digital literacy skills and embrace the type of dynamic digital communication that will serve students well throughout their career. For those students that are in their last year of school, they can utilize Adobe Express to create brand-new resume templates for job applications. There are thousands of resume templates that will help graduates feel prepared for the upcoming job hunt. + + + Express for Nonprofits + + + Last year, we announced Adobe Express for Nonprofits, which provides the premium version of Adobe Express for free to nonprofits worldwide to help changemakers around the world quickly and easily make standout content. We are harnessing our creative and technological strengths to enable the world's 10 million+ nonprofits to accelerate their mission, engage their donors, reach more people and drive greater impact. Adobe Express for nonprofits includes access to thousands of professionally designed templates and assets (some of which were co-created by nonprofits with Adobe to better support organizations), over 20,000 licensed Adobe Fonts, over 193 million royalty-free Adobe Stock collection photos, 100GB of storage, cross-channel social publishing capabilities, and more. + + + Entering a new year is a fresh start and an exciting time to set personal and professional goals for yourself and with Adobe Express, we can make it that much easier. As we celebrate one lap around the sun since launching our creative tool, we're excited about the accomplishments and magic that we've brought to the app and shared with our community, and can't wait to show what's to come. + + + Happy first birthday Adobe Express - here's to many, many more! + + + +https://blog.adobe.com/en/publish/2022/12/05/celebrating-special-milestone-10-things-you-might-not-know-about-adobes-40-years-innovation + + +https://blog.adobe.com/en/publish/2022/12/06/express-your-holiday-adobe-express-holiday-hotline-here-to-spread-hosting-planning-cheer + + +https://blog.adobe.com/en/publish/2022/11/14/express-your-generosity-this-giving-tuesday-with-adobe + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Adobe Inc. published this content on 09 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 January 2023 17:09:30 UTC. + + diff --git a/news/ADBE/2023.01.09/MarketScreener's World Press Review: January 9 .txt b/news/ADBE/2023.01.09/MarketScreener's World Press Review: January 9 .txt new file mode 100644 index 0000000000000000000000000000000000000000..a18daa60dbe71ccbe5d0e47a40fb24915a0465db --- /dev/null +++ b/news/ADBE/2023.01.09/MarketScreener's World Press Review: January 9 .txt @@ -0,0 +1,12 @@ + +Softbank, Hargreaves Lansdown, Walt Disney, Goldman Sachs, Deere & Co, Eisai & Biogen, Tesla, Amazon, Apple, Alphabet and Meta, General Electric & GE healthcare, Johnson & Johnson, Baxter, Novartis, Carnival, Royal Caribbean, Norwegian Cruise, Comcast, Adobe, Rakuten and SK Bioscience feature in this press review! + + + + +  +  + +  +  +  diff --git a/news/ADBE/2023.01.12/Media Alert : Adobe: Holiday Shopping Season Drove a Record $211.7 Billion for E-commerce.txt b/news/ADBE/2023.01.12/Media Alert : Adobe: Holiday Shopping Season Drove a Record $211.7 Billion for E-commerce.txt new file mode 100644 index 0000000000000000000000000000000000000000..f823885cbc51c63acca8725e35aaf8bfd9fa167c --- /dev/null +++ b/news/ADBE/2023.01.12/Media Alert : Adobe: Holiday Shopping Season Drove a Record $211.7 Billion for E-commerce.txt @@ -0,0 +1 @@ +Media Alert: Adobe: Holiday Shopping Season Drove a Record $211.7 Billion for E-commerce.Heavy discounting drew in price-sensitive shoppers, with major deals in categories such as toys, electronics, appliances and apparelThirty-eight days this season surpassed $3 billion in daily spend, cementing e-commerce as a ubiquitous daily activityMobile shopping regained the spotlight, driving the majority of online sales on Christmas Day and during Cyber WeekSAN JOSE, Calif. - Adobe (Nasdaq:ADBE) has released online retail insights for the 2022 holiday season, covering the period from November 1 to December 31. Based on Adobe Analytics data, the report provides the most comprehensive view into U.S. e-commerce by analyzing commerce transactions online, covering over one trillion visits to U.S. retail sites, 100 million SKUs and 18 product categories. Adobe Analytics is part of Adobe Experience Cloud, relied upon by over 85% of the top 100 internet retailers in the U.S.* to deliver, measure and personalize shopping experiences online.Consumers spent a total of $211.7 billion online from November 1 to December 31, growing 3.5% year-over-year (YoY) and setting a new record for e-commerce. While Cyber Week (the five days between Thanksgiving and Cyber Monday) was a key contributor, driving $35.3 billion in online spend and growing 4% YoY, shoppers hit the buy button all season long: 38 days surpassed $3 billion in daily spend this holiday season, on par with last year. For comparison, only 25 days in the 2020 season surpassed $3 billion.The resilient holiday season was driven by demand for toys, where online sales grew 206% compared to pre-season levels in October 2022, as well as video games (up 115%) and apparel/accessories (up 94%). Sub-categories that saw strong demand include watches (up 108%), baby toys (up 101%), gift cards (up 98%), cosmetics (up 90%), outdoor grills (up 86%), speakers (up 76%) and smart home products (up 67%).Top sellers this holiday season included Legos, Hot Wheels, Paw Patrol, LOL Surprise, Squishmallows, Bluey and Cocomelon for toys. Top gaming consoles included Nintendo Switch, Xbox Series X, and PlayStation 5, while top games included God of War, Madden 23, FIFA 23 and Call of Duty. Other top sellers this holiday season included Apple Airpods, Roku devices, air fryers, vacuums and umbrella strollers.Big discounts drew in price-sensitive shoppersAcross major e-commerce categories, discounts hit record highs this holiday season. Shoppers found great deals in toys, where discounts peaked at 34% off listed price (vs. 19% in 2021), as well as electronics at 25% (vs. 8%). Discounts were strong across other categories including computers at 20% (vs. 10%), apparel at 19% (vs. 13%), televisions at 17% (vs. 11%), appliances at 16% (vs. 4%), sporting goods at 10% (vs. 6%), and furniture at 8% (vs. 2%).'At a time when consumers were dealing with elevated prices in areas such as food, gas and rent, holiday discounts were strong enough to sustain discretionary spending through the entire season,' said Vivek Pandya, lead analyst, Digital Insights at Adobe. 'The big deals drew in consumers and drove volume, helping retailers who were challenged with oversupply issues, particularly in categories such as apparel, electronics and toys.'Additional Adobe Analytics InsightsMobile shopping: This holiday season, 47% of online sales came through smartphones (up from 43% in 2021). Christmas Day (December 25) set a new mobile record, driving the majority of online sales at 61% (up from 58%), as did Cyber Week, where 51% of sales came through smartphones (up from 46%). For years, retailers have struggled to move the needle on mobile shopping, and the strong growth this season shows that investments made in improving the experience are beginning to pay off.Buy Now Pay Later: In an uncertain economic environment, shoppers have explored new ways to manage their budgets. In the holiday season overall, Buy Now Pay Later (BNPL) orders rose 4% when compared to 2021. Revenue, however, decreased by 2%, indicating that shoppers are increasingly using BNPL for smaller shopping carts.Curbside pickup: The fulfillment method was used in 21% of online orders this holiday season (for retailers that offer the service), down slightly from 23% in the year prior. From December 22 to December 23 (right before Christmas Eve), curbside pickup peaked at 42% of online orders, with anxious shoppers using the service to get gifts in time. Curbside has cemented itself as a major fulfillment method, providing brick-and-mortar retailers new ways to drive value from their physical storefronts.Impact of marketing investments: Across major marketing channels, paid search remained the biggest driver of sales for retailers this holiday season (29% of online sales attributable to that channel). Direct web visits (19%), organic search (17%), affiliates/partners (16%) and email (15%) were also major contributors. Revenue directly attributable to social media remained at less than 3% of total sales this season, but that share has grown 24% YoY.The impact of inflationThis holiday season, strong consumer spending online has been driven by net-new demand, and not simply higher prices. The Adobe Digital Price Index (DPI), which tracks e-commerce prices across 18 categories, shows that prices online have been falling YoY since September 2022. Adobe figures are not adjusted for inflation, but if online inflation were factored in, there would still be growth in underlying consumer demand.MethodologyAdobe provides the most comprehensive view into U.S. e-commerce by analyzing direct consumer transactions online. The analysis covers over one trillion visits to U.S. retail sites, 100 million SKUs and 18 product categories - more than any other technology company or research organization. Adobe Analytics is part of Adobe Experience Cloud, which over 85% of the top 100 internet retailers in the U.S.* rely upon to deliver, measure and personalize shopping experiences online.*Per the Digital Commerce 360 Top 500 report (2021)About AdobeAdobe is changing the world through digital experiences. For more information, visit www.adobe.com.2023 Adobe. All rights reserved. Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe in the United States and/or other countries. All other trademarks are the property of their respective owners.Public relations contactKevin FuAdobekfu@adobe.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/ADBE/2023.01.13/China's awakening on cryptos? - Crypto Recap.txt b/news/ADBE/2023.01.13/China's awakening on cryptos? - Crypto Recap.txt new file mode 100644 index 0000000000000000000000000000000000000000..0fa03040073decf5aff120930279971626eb93b4 --- /dev/null +++ b/news/ADBE/2023.01.13/China's awakening on cryptos? - Crypto Recap.txt @@ -0,0 +1,37 @@ + + +Block 1: Essential news +Binance is on all fronts +Everything seems to be going well for the crypto giant. First, Binance has just registered with the Swedish financial supervisory authority (FSA) to continue its regulation in Europe, after having done so in seven EU member states including France. Second, Binance.US, the platform's U.S. arm, announced that it is buying the assets of bankrupt platform Voyager Digital for $1 billion, which will allow Voyager's customers to recoup some of their deposits that are tied up in the bankruptcy process. Third, Binance announced that it is hiring 3,000 people in various positions for 2023. +Avalanche blockchain partners with Amazon +The cloud computing platform of the tech giant, Amazon Web Services (AWS), has partnered with Avalanche blockchain, "to accelerate the adoption of blockchain by businesses, institutions and governments". The goal is to bring the entire Avalanche ecosystem (decentralized applications, network nodes, subnets...) directly to AWS. We will see more concretely in the coming months how this partnership will materialize, but it raises questions about a potential progressive centralization of the Avalanche network in the hands of Amazon. Decentralization of networks being a feature dear to the eyes of cryptosphere aficionados. +Polygon blockchain partners with Mastercard +After having established partnerships with renowned companies such as Walt Disney, BMW, Mercedes, Adobe, Adidas or Starbucks, Polygon is partnering with the payment giant Mastercard. It was at the Consumer Electronics Show (CES) in Las Vegas that the company announced the launch of an accelerator dedicated to music artists. So what does this have to do with Polygon? The artist accelerator will include a limited edition NFT called "The Mastercard Music Pass" that will give holders access to "exclusive gear, unique resources and other physical and virtual experiences." This collection will be backed by the Polygon blockchain. More concrete details will be given in the coming months. But it does shows Mastercard's willingness to occupy the field in the crypto sphere. +Sam Bankman-Fried explains himself again +Sam Bankman-Fried, the disgraced former head of FTX, denied hiding billions of dollars and gave his take on what happened to his failed platform in a lengthy new post on Substack published Thursday. He denied stealing funds and said FTX and its sister company Alameda Research collapsed because of the crypto market collapse and inadequate hedging by Alameda. "I did not steal funds and I certainly did not hide billions of dollars," Bankman-Fried writes. Later in the post, he concludes that "Alameda lost money because of a market crash for which it was not properly covered." While claiming that the trading company "failed to adequately hedge its market exposure," he also stated that he "did not run Alameda in recent years." We should still have some wacky explanations from SBF by his trial date of October 2, 2023.  +Coinbase cuts 950 jobs +After being forced to pay $100 million last week to comply with regulators, the US crypto platform announced this week that it is laying off another 950 employees, knowing that it had already kicked out 1,100 employees six months earlier. Coinbase also mentioned that it will be dropping projects that are deemed to have a "low probability of success" in order to reduce expenses. As the chart below shows, Coinbase has been playing elbows with the Crypto.com platform in terms of layoffs since 2022.  + + +Number of layoffs at entities with ties to cryptosBloomberg + +Block 2: Crypto Analysis of the Week +President Xi Jinping's administration has taken market-friendly steps in recent days, such as easing policy toward tech giants and strengthening the real estate sector. Given these reversals, could cryptocurrency policy also change? Some crypto-optimists see a real possibility. This is particularly true of self-proclaimed crypto-billionaire and blockchain founder Tron, who expressed his excitement on Twitter. +After all, in recent months, Hong Kong has prioritized the creation of a virtual asset center, all under the watchful eye of Beijing. There has even been talk of a connection program that would allow Chinese people to access cryptocurrencies through Hong Kong. +Julia Leung Fung-yee, executive director of Hong Kong's Securities and Futures Commission (SFC), announced that the securities watchdog will propose a set of digital assets that it will allow to be traded by retail investors. Hong Kong's decision to allow retail trading of cryptocurrencies comes after months of turmoil in the industry, with the collapse of cryptocurrency platform FTX as the latest blow. +"Over the past year, virtual assets have gone from highs to low (price) levels. The good thing is that when the froth is taken out of the system with the collapse of platforms and some tokens, it focuses the minds of investors and sellers on protecting investors," Leung said during a panel discussion at the Asian Financial Forum in Hong Kong on Wednesday. +The SFC will start accepting applications for Virtual Asset Service Providers (VASP) licenses in mid-2024, Leung said. The new cryptocurrency regime requires all trading platforms and exchanges to apply for a license or face fines and jail time. +Many China watchers will dismiss such speculation as highly fanciful. In addition to the catastrophic fallout from the FTX debacle, policymakers still remain reticent about issues such as the waste of energy associated with cryptocurrency mining and the dangers of cryptocurrency speculation. +Yet even a partial easing of China's restrictions would be a boon to the industry, one enticing enough for crypto miners, crypto traders and crypto investors to pin at least some of their hopes on. +Dreams of a China-led renaissance may be nothing more than a triumph of hope over reason. But optimists can still look forward to the next Ethereum upgrade, which is expected to take place in March. Its name? Shanghai. We will detail the stakes of this upgrade in a dedicated article. +Block 3: Tops & Flops + +The evolution of the Top 20 cryptocurrencies in terms of capitalization over one week. (Click to enlarge) + + +Heatmap Crypto +Quantify +Block 4: Readings of the week +FTX destroyed the crypto party in paradise (Wired) +Six OpenAI rivals watched by Google and Microsoft (The Information) + diff --git a/news/ADBE/2023.01.16/Looking at synergies in corporate finance.txt b/news/ADBE/2023.01.16/Looking at synergies in corporate finance.txt new file mode 100644 index 0000000000000000000000000000000000000000..ad0a20867b4422b75b95d520f5de04a54b16093f --- /dev/null +++ b/news/ADBE/2023.01.16/Looking at synergies in corporate finance.txt @@ -0,0 +1,76 @@ + +The Basics: + +Synergies: the concept +Types of synergies +A less attractive reality + +Before venturing a little deeper into the concept of synergies, it is important to review some basic concepts and mechanisms in market and corporate finance. As the term synergies is closely linked to M&A transactions, let's start with a few reminders about external growth. +1+1 = 3 +Just as the objective of a company - from a purely financial point of view - is to maximize the market value of its equity capital in the long term, a growth transaction is not only a way to increase the value of the company's assets, but also to increase the value of its liabilities. In a purely financial - and not industrial - logic, an external growth operation can only be justified if there is a creation of value for the shareholders of the acquiring company. Thus, any complete or partial takeover of a company must be done at a cost - WACC* - lower than the expected returns - CROIC**. Otherwise, there would be a destruction of value. Of course, this is complex to analyze since some exercises can be value-destroying when the following ones compensate for the destruction until value is created. Another way of looking at it - and a little simpler - is to imagine that the cumulative TSR of the acquiring and acquired companies - in case of a merger or acquisition - would be higher than the TSR of the two entities if no operations had taken place. In other words, the objective is to arrive at a result of the type: 1+1=3 +In a more academic way, this gives: V(A+B) > V(A) + V(B) +Or V(X) means Value of the company X +This translates then either into an increase in Free Cash Flow : FCF(A+B) > FCF(A) + FCF(B) +*With a similar gearing and beta all else being equal +So, not a change in the gearing - capital structure - of the company, leading to a decrease in the cost of capital - decrease in WACC. This decrease in the WACC is then synonymous with a lower discount rate and therefore with immediate value creation. +*With a similar cumulative FCF, all other things being equal +In summary, an increase in FCF (increase in CROIC) and a change in gearing (decrease in WACC) are the two factors that create value in an external growth operation. We find again the two parts of our Fair Value formula (WACC = CROIC) +The objective is therefore simple. The practice is a little less simple... There is a real asymmetry of information in such operations, but also natural divergences with regard to the terms of the operation. The target company's goal is to sell itself for the highest possible price, while the acquiring company's goal is to buy for the lowest possible price. A divergence on the price, sometimes on the financing and rarely on other terms therefore takes place, as in any sale. Basically, the objective of both companies remains the same: to close the deal - i.e. to find an agreement at an interesting price for both parties. Otherwise, no deal will take place. However, in the case of the sale of a company, there is a strong asymmetry of information between the buyer and the seller. In particular with regard to the financial and operational performance of the target company. This explains why about 25% of external growth operations are aborted each year. +Aside from that, if we go back to our previous formula, V(A+B) > V(A) + V(B), that we consider that V(A) trades at fair value and that V(B) was acquired at fair value - i.e. WACC=CROIC -, our formula implies that there is a world in which A+B would be better performing than A and B operating independently.  +This can be explained by several factors, such as better management on the part of A (the acquiring company), access to new markets, but also by the existence of these famous synergies. This assumption about the acquisition of a target at its fair price may seem pessimistic, but considering the strong information asymmetry and the lack of financial logic that sometimes exists in this type of operation, a company is rarely sold below its fair price. If transactions that make no financial sense or are too risky were not to take place, I think it would be easy to double the number of aborted transactions. If you want to learn more about these subjects, I invite you to read: Rothschild, a bank in power - Chapter 13 or read about the takeover of DFS Group by LVMH. +Synergies: +There is synergy if FCF(A+B) > FCF(A) + FCF(B) +In other words: Sy = FCF(A and C) - FCF(A) - FCF(B) +Synergies are therefore the source of a marginal FCF generated by the takeover of the target. This leads to a comparison between the observed reality (cumulative FCF) and an estimate (what the individual FCF would have been without the transaction). In the case of a merger, there is an operational and legal merger, so the synergies are easier to generate, very strong and fairly rapid. In the case of an acquisition, where each company remains autonomous, synergies are complex to generate and sometimes require the use of ad hoc structures, such as Shared Services Centers (SSC). +Types of synergies: +There are three main types of synergies: revenue, cost and financial synergies. + +Revenue synergies, Sy (Rev), correspond to an increase in cumulative revenues: + +Revenues(A and B) > Revenues(A) + Revenues(B) +They have several origins such as the increase in sales volumes, range effects, or effects on prices (pricing power, competition effect...). In practice, the effects of synergies on revenues are very limited, observed after a certain period of time and obtained after a reorganization that generates costs. + +Cost synergies, Sy (Cost), correspond to a reduction in costs linked to the operation: + +Costs(A and B) < Costs(A) + Costs(B) +This type of synergy is relatively mechanical and plannable: vertical integration savings, elimination of duplication (single headquarters and support function), elimination of inefficient managers, redeployment of R&D, reduction in the number ofThese cost synergies are relatively mechanical and plannable: vertical integration savings, elimination of duplication (single headquarters and support function), elimination of inefficient managers, redeployment of R&D, reduction of overstaffing, etc. The savings can be achieved quickly but require prior restructuring. These cost synergies are actually divided into two: 1) economies of scale 2) economies of scope. + +Financial synergies, Sy (Fi), correspond to direct financial gains obtained as a result of the operation: + +These synergies come from optimizing the group's financial management, renegotiating banking conditions and improving financing conditions. These synergies are not necessarily the easiest to understand for an amateur investor, but they are probably the most tangible, along with the cost synergies. +Synergies are also analyzed in terms of risk. After the operation, the pooling of operations often allows a change in the cost structure. It is possible to achieve a reduction in fixed costs and an increase in margins. In this way, the break even point could be lowered, reducing the operational risk and therefore the Beta of the whole created by the deal (new gearing). The decrease in the economic risk of the group reduces the cost of capital, which leads to an increase in value or allows the absorption of an additional financial risk (linked to a new debt). +The reality of synergies +In practice, synergies are difficult to quantify and are often specific to each deal. Nevertheless, auditors and bankers estimate on average that cost synergies represent 1.2% to 2.4% of cumulative costs and revenue synergies are between 0.5% and 1.5% of cumulative revenues. A statistical method can also be used where an average rate of synergies (as a % of cumulative FCF before the transaction) is obtained by analyzing a benchmark of peers. An empirical approach is also sometimes used. This approach means that the acquirer and the acquired company work together to estimate the amount of expected synergies. This method is time-consuming, laborious and highly uncertain, and is not the most widely applied in practice. +Synergy forecasts must also take into account their progressive release. Indeed, synergies do not appear as soon as the target is acquired. In the investment banking world, when deals are evaluated, a real synergy schedule is set up. It is common for certain synergies to appear only 3 or 4 accounting years after the closing of the deal. This time lag must therefore be taken into account. + +The run rate: The amount of synergies expected at full speed (100%), i.e. the annual potential of these synergies at cruising speed. +The ramp up: The assumption of a gradual increase in synergies to reach the run rate. It is linked to the nature of the combination and the integration plan of the target. + +Should synergies be priced? +Finally, there is a last debate related to the pricing of synergies. Every seller wants to sell his asset at the highest possible price, every buyer wants to acquire the same asset at a lower cost. Often, especially since there is a strong asymmetry of information, companies are bought above their fair value. The buyer's objective is therefore to manage the acquired company in such a way that the objectives set by the sellers will be exceeded, thus valuing the company at a higher price than that purchased. In other words, to do better than the sellers hope to do. Obviously, these are not the easiest objectives to achieve, since the business plan of the seller is often already very embellished. +Another way to proceed is for the acquiring company to create numerous synergies, thus transforming a purchase made at the right price into a purchase concluded under the right price. Value will be created even if the acquiring company "only" reproduced the business plan sold by the acquired company. +If the synergies were taken into account in the purchase price, this would give us: +Stand Alone Value of the target ++ Value of the net synergies ++ Premium (expectation of future earnings) += Transaction Price, projected synergies +And or Stand Alone Value of the target : +Book Value of Equity ++ Valuation Differences (justified) += Stand Alone Value of the target ++ +Acquisition Carrying Amounts (unjustified)( +unjustified as synergies and expectation of future earnings) += Transaction Price, projected synergies +Rewritten, this gives : +Transaction Price, projected synergies +- Book Value of Equity +- Valuation Differences += Goodwill +The price paid for the synergies and therefore one of the components of goodwill - as well as the expectation of future earnings normally projected in the business plan - is the price paid for the synergies. +The price paid for synergies and therefore one of the components of goodwill - like the expectation of future gains normally taken into account in the market value of the equity - because they correspond to an expectation of future gains that would be unjustified for the company if it remained isolated - i.e.non-acquired. The objective of the acquiring company is therefore not to pay for the synergies and thus to pay only the Stand Alone value of the target. This is sometimes very complex in practice when faced with a seller who is reluctant to sell his company. +It is for these reasons that we often observe a tendency to overestimate the potential of synergies and underestimate the risk that they will not materialize. The forecasts are optimistic (exaggerated or unrealistic amounts to justify an acquisition price that is too high, ramping up too quickly, insufficient consideration of implementation costs) allowing to justify an acquisition that makes no financial sense - destroying value. However, these value-destroying operations often take place, whether because of the ego of the managers or because of economic interests - for example: higher salary because of a larger post-operation company. Economic interests that a shareholder does not have in this type of operation, which makes sense industrially but not financially. Also certain operations, even if they are not financially meaningful, take place and respond to a strategy of "absorption-spraying" of competitors or "oligopolization" of a sector. These value-destroying operations avoid greater destruction in the long term if nothing is done. When internal growth is no longer sufficient - R&D - and the company enters a phase of maturity or even decline, it may be wise to cut off a hand - or even a finger - to avoid losing an arm... The Adobe - Figma deal can, in my opinion, enter in this category since Adobe paid 20B$ to acquire Figma - 1.21 Figma's TAM*** 2025 (x105 Price-to-Sale 2022). Usually, this type of deal involves drastically smaller amounts, so much so that we rarely hear about it. It is sometimes similar to Venture Capital, which justifies the astronomical amounts paid to buy companies with fragile and uncertain business models - but potentially threatening for the buying companies. +  +*WACC = Weighted Average Cost of Capital +**CROIC = Cash Return On Invested Capital +***TAM = Total Addressable Market diff --git a/news/ADBE/2023.01.17/Adobe : Interview with Kim Yutani, Sundance Film Festival Director of Programming.txt b/news/ADBE/2023.01.17/Adobe : Interview with Kim Yutani, Sundance Film Festival Director of Programming.txt new file mode 100644 index 0000000000000000000000000000000000000000..ac8eafdaed0504b156899ca681283c3fd8f94247 --- /dev/null +++ b/news/ADBE/2023.01.17/Adobe : Interview with Kim Yutani, Sundance Film Festival Director of Programming.txt @@ -0,0 +1,41 @@ + + + Interview with Kim Yutani, Sundance Film Festival Director of Programming + + + +https://www.youtube.com/watch?v=ZNmUaGWSVik + + + + Kim Yutani, Sundance Film Festival Director of Programing, speaks with Meagan Keane, Adobe Pro Video Director of Product Marketing about the consideration process for selecting films, what themes stand out for the year, and more. + + + +https://blog.adobe.com/en/publish/2023/01/17/stories-of-filmmakers-creators-dreamers-beyond-bring-us-together-2023-sundance-film-festival + + +https://blog.adobe.com/en/publish/2022/06/21/announcing-2022-women-at-sundance-adobe-fellows + + +https://blog.adobe.com/en/publish/2022/11/30/how-to-dream-in-georgia + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Adobe Inc. published this content on 17 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2023 18:59:03 UTC. + + diff --git a/news/ADBE/2023.01.18/Analyst recommendations: Adobe, AstraZeneca, Morgan Stanley, Ora...txt b/news/ADBE/2023.01.18/Analyst recommendations: Adobe, AstraZeneca, Morgan Stanley, Ora...txt new file mode 100644 index 0000000000000000000000000000000000000000..178ac0a84be706a0f196d4e566cb56abc38a5114 --- /dev/null +++ b/news/ADBE/2023.01.18/Analyst recommendations: Adobe, AstraZeneca, Morgan Stanley, Ora...txt @@ -0,0 +1,18 @@ + +  + +Adobe: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $350. +AstraZeneca: Berenberg remains Buy with a price target raised from GBp 118 to GBp 126. +Magellan Midstream: Barclays upgrades to overweight from equal-weight. PT up 12% to $59. +Monarch Casino: Macquarie downgrades to neutral from outperform. PT up 2.2% to $81. +Morgan Stanley: Citi downgrades to neutral from buy. PT up 3% to $100. +Oracle:  D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $85. +Salesforce: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $150. +Snowflake: Scotiabank initiated coverage with a recommendation of sector perform. PT set to $125. +Unilever: Jefferies remains Buy with a price target raised from GBp 4500 to GBp 4850. +Vertex Pharmaceuticals: Canaccord Genuity reinstated coverage with a recommendation of hold. PT set to $311, a 0.3% decrease from last price. +Whitbread: Oddo BHF upgrades from Outperform to Neutral with a target of GBp 3500. +Williams Co: Barclays downgrades to equal-weight from overweight. PT up 13% to $37. +Willis Towers: Keefe, Bruyette & Woods upgrades to outperform from market perform. PT jumps 20% to $303. +UGI: Barclays cut its recommendation to underweight from equal-weight. PT down 3.7% to $39. + diff --git a/news/ADBE/2023.01.18/How long will this bullish phase last?.txt b/news/ADBE/2023.01.18/How long will this bullish phase last?.txt new file mode 100644 index 0000000000000000000000000000000000000000..bd2ca39bc1b93eaede4ac1cd0a7f5b9a572b9134 --- /dev/null +++ b/news/ADBE/2023.01.18/How long will this bullish phase last?.txt @@ -0,0 +1,39 @@ + +According to Refinitiv, analysts expect Q4 earnings from S&P 500 companies to fall 2.4% from the year-ago quarter. +At the open, the Dow Jones was up 0.2%, the S&P 500 gained 0.3%, and the Nasdaq 100 rose 0.7%. + +Equity markets are on a bullish streak since the start of the year. The Nasdaq added a seventh consecutive session of gains. The U.S. technology index is a good gauge of investors' risk appetite. +That said, the streak almost came to an end yesterday, as the Nasdaq only gained 0.1% at the close. There was also a big gap with the Dow Jones, which fell 1.14%. The old index was hampered by Goldman Sachs, which fell 6.4% after very disappointing results. The U.S. bank is the second most influential stock of the Dow Jones, since it weighed more than 7% before yesterday's session. This is because the historical index of Wall Street is calculated from the price of shares and not their real capitalization. This is why Goldman Sachs, with its price of 350 dollars, has more influence on the index than Apple, which only quotes 136 dollars, even though the capitalization of the Cupertino-based group is 15 times higher. Modern indices take into account the floating capitalization of companies. +Now, question! Is the confidence boost of early 2023, fueled by the prospect of monetary policy normalization, a soft economic landing and a rebound in China, deeply rooted? This is what we will try to determine by dissecting Bank of America's monthly survey of a host of asset managers. The panel is representative (286 professionals managing $772 billion) and the timing is appropriate (the answers were given between January 6 and 12, which is as close as possible to the renewed optimism). The survey shows that investors are "still bearish, but much less so than in the fourth quarter", thanks to the dual factor of China and the Fed, but that they are still going in with a pinch of salt. There is a rotation towards emerging markets, the European Union and cyclical stocks, which is a pretty good description of what happened in the first half of January. +What is surprising, but which I mentioned earlier this week, is that managers are much more optimistic than economists about the months ahead. Their optimism for global growth is at its highest in a year, while fears of recession are at their lowest in 6 months. The adjustment variable, apparently, is China's return to the economic arena. We will see in the coming months who will be right. The main risks cited are "inflation remains high" at 35%, ahead of "a deep recession" (20%) and "central banks remain punitive" (18%). Other risks cited to a lesser extent are a geopolitical deterioration, a systemic credit event and the return of the coronavirus. As for the most bottled bets, being long the US dollar comes out on top but down from December. "Being long ESG assets" comes next, ahead of "being long Chinese stocks". Nothing very original, but no big surprises there. +One thing that is definitely weirder in this survey: in the prediction game for the end of 2023, investors see the 10-year US government bond yield at 3.6%, the S&P500 at 3900 and bitcoin at USD 15,500. Currently, we are at 3.48%, 3991 points and 21,200 USD respectively. I won't go into the 10-year rate, which looks pretty consistent, or the level of bitcoin, which is total mysticism, but I find it surprising that with a pretty bullish economic view, managers see the S&P500 lower than it is now. The answer is probably that investors are looking for performance elsewhere than in the US. And probably also that they are still a bit confused about their strategies. +Let's get back to today's session, with many corporate results, including Charles Schwabb, Prologis and PNC Financial. We also have speeches from Fed members during the day, in particular Raphael Bostic and Lorie Logan. Perhaps an opportunity for investors to refine their predictions on the central bank's intentions. +  +Economic highlights of the day: +In Europe, December inflation for the UK and the euro zone. In the US, a busy schedule with retail sales, industrial production, NAHB house price index and business inventories. All the agenda is here. Overnight, Japan reported sharply falling machinery orders in December, while the Bank of Japan left its monetary policy unchanged. +The dollar is down 0.5% to EUR 0.9218 and GBP 0.8069. The ounce of gold is up to USD 1917. Oil advanced, with North Sea Brent crude at USD 87.55 a barrel and U.S. light crude WTI at USD 82.05. The yield on 10-year US debt is down to 3.48%. Bitcoin is holding steady around USD 21,100. +  +In corporate news: +* United Airlines Holdings is up 3 percent in premarket trading after the airline said Tuesday it expects at least a fourfold increase in profit this year after quarterly earnings beat Wall Street expectations. +* Moderna climbed 6.7% in premarket trading after positive results from a clinical trial for its experimental messenger RNA vaccine against respiratory syncytial virus (RSV). +* Apple postponed indefinitely the expected launch of its connected glasses due to technical difficulties but still plans to launch a virtual and augmented reality headset this year, Bloomberg reported Tuesday. +* Uber - VTC platforms and representatives of independent VTC drivers in France have signed an agreement on minimum net income per ride set at 7.65 euros, Uber and labor organizations announced Wednesday. +* Coinbase Global - The crypto asset exchange platform announced Wednesday a suspension of its operations in Japan due to financial market volatility. +  +Analyst recommendations: + +Adobe: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $350. +AstraZeneca: Berenberg remains Buy with a price target raised from GBp 118 to GBp 126. +Magellan Midstream: Barclays upgrades to overweight from equal-weight. PT up 12% to $59. +Monarch Casino: Macquarie downgrades to neutral from outperform. PT up 2.2% to $81. +Morgan Stanley: Citi downgrades to neutral from buy. PT up 3% to $100. +Oracle:  D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $85. +Salesforce: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $150. +Snowflake: Scotiabank initiated coverage with a recommendation of sector perform. PT set to $125. +Unilever: Jefferies remains Buy with a price target raised from GBp 4500 to GBp 4850. +Vertex Pharmaceuticals: Canaccord Genuity reinstated coverage with a recommendation of hold. PT set to $311, a 0.3% decrease from last price. +Whitbread: Oddo BHF upgrades from Outperform to Neutral with a target of GBp 3500. +Williams Co: Barclays downgrades to equal-weight from overweight. PT up 13% to $37. +Willis Towers: Keefe, Bruyette & Woods upgrades to outperform from market perform. PT jumps 20% to $303. +UGI: Barclays cut its recommendation to underweight from equal-weight. PT down 3.7% to $39. + diff --git a/news/ADBE/2023.01.18/U.S. holiday sales miss estimates as inflation drag...txt b/news/ADBE/2023.01.18/U.S. holiday sales miss estimates as inflation drag...txt new file mode 100644 index 0000000000000000000000000000000000000000..b874d5690fea7beb76102c53a057b15abba44ac2 --- /dev/null +++ b/news/ADBE/2023.01.18/U.S. holiday sales miss estimates as inflation drag...txt @@ -0,0 +1 @@ +The leading retail industry group said including e-commerce, holiday sales jumped to $936.3 billion during November and December, missing its forecast of a rise of between 6% and 8% over 2021."We knew it could be touch-and-go for final holiday sales given early shopping in October that likely pulled some sales forward plus price pressures and cold, stormy weather," NRF Chief Economist Jack Kleinhenz said.In an attempt to exhaust excess inventories and bring back stocks to normal levels retailers including Amazon.com Inc, Target Corp and Walmart Inc offered discounts as early as October.This helped spur demand and lure in price sensitive consumers who are seeing decades-high inflation eat into their disposable income.Americans awaited their chance to purchase products at the lowest possible price between Thanksgiving and Cyber Monday. During the five-day long period, a record 196.7 million shoppers made purchases in stores and online, exceeding its expectations, according to the NRF. However, the Commerce Department said on Wednesday that retail sales dropped 1.1% in December putting consumer spending and the overall economy on a weaker growth path heading into 2023 as shoppers pulled forward holiday purchases into October. Earlier this month, Adobe Analytics reported U.S. online spending rose a better-than-expected 3.5% during the 2022 holiday season, as Americans capitalized on hefty discounts. However, online holiday sales grew at the slowest pace as customers felt the brunt of rising prices. (Reporting by Aatrayee Chatterjee and Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/ADBE/2023.01.23/Adobe : Buro Happold orchestrates the future of communities with creative and sustainable ...txt b/news/ADBE/2023.01.23/Adobe : Buro Happold orchestrates the future of communities with creative and sustainable ...txt new file mode 100644 index 0000000000000000000000000000000000000000..50532cb7b801e8cca39ea5a8f0e54ea1644d435c --- /dev/null +++ b/news/ADBE/2023.01.23/Adobe : Buro Happold orchestrates the future of communities with creative and sustainable ...txt @@ -0,0 +1,88 @@ + + + Buro Happold orchestrates the future of communities with creative and sustainable solutions + + + Developing a thriving community is more than just constructing new buildings or laying down roads. The true magic comes from designs that aim to have a positive impact on people - their health, wellbeing, environment, and the economy. + + + For more than 45 years, integrated consultancy of engineers, consultants, and advisers, Buro Happold has built a world-class reputation for delivering creative solutions for a changing world. The company works with diverse experts in many fields - from engineering and technology to ecology and acoustics - who collaborate and provide support for a variety of building, infrastructure, and environmental projects. + + + "We all specialize in different areas, but at the end of the day, everyone at Buro Happold is a thinker, creator, and problem solver," says Linaka Greensword, creative lead for projects at Buro Happold. "Everyone aims for creative solutions that support our clients while bringing social value to communities." + + + When working on a project, consultants incorporate a wide range of ideas, from protecting biodiversity, to considering the effects that pollution or noise may have on people nearby, to sourcing materials for the least amount of environmental impact. It can be difficult to fully convey the importance of such broad ideas to clients. That's where Greensword and her creative team step in. They work with in-house consultants to translate big ideas into visuals that explain complex concepts in easy-to-understand ways. + + +https://blog.adobe.com/en/promotions/products/creative-cloud/stock + + + "Everyone at Buro Happold embodies creativity, but our team specializes in understanding how to communicate that creativity to anyone," explains Greensword. "We support projects across the company and we're often looking at tight turnaround times. But we're not aiming to rush things - we need to get clients emotionally invested, and that means leveraging visual media. Working with Adobe Creative Cloud allows us to be very efficient while giving us the tools to bring our artistic vision to clients." + + + +Mexico City, Mexico. + + + + Illustrating the future of city construction + + + Buro Happold's sustainability consultants were engaged by C40 Cities to partner on a series of reports that recommend actionable policies aimed at delivering efficient and sustainable construction projects that can help mitigate construction's impact on climate change. For the C40 Cities Clean Construction Programme, Greensword and the creative team created a series of aspirational cityscapes to capture the feeling of the bright, clean future envisioned by the C40 Cities initiative. + + + Starting with linework in Adobe Illustrator, Greensword's team built up multiple layers to capture the perspective points for towering buildings, rows of green trees, and colorful street stalls. Once the foundations were laid, they moved to Adobe Photoshopto add textures, colors, and dynamic lighting to the facade. To bring the imagery to life, the pieces were finalized in Adobe After Effects with subtle screen wipes and animations for use as Instagram Reels. + + + "We chose a very colorful and lighthearted palette to convey the idea of a brighter future," says Greensword. "I tend to use Adobe Color to create my palettes, but for the Clean Construction project, we actually used Adobe Fresco. We could start with our core colors and then blend them together like watercolors to find the proper mixtures of tones for every cityscape." + + + As with most creative projects at Buro Happold, Greensword also leveraged Adobe Stock. Creators transformed stock photography into dynamic silhouettes showing people shopping, biking, or playing along the city streets. + + + "We use Adobe Stock all the time as a starting point for our work," explains Greensword. "The filters make it easy to find exactly what we need - from images with space for copy to specific types of trees for an ecological survey. We don't always use the entire image either. We might pull out a car or even just one vector, then add color, change line weight, and blend it seamlessly into our finished image. It helps us work more efficiently and concentrate on refining the message that we're sending rather than trying to draw an electric vehicle by hand." + + + +Toronto, Canada. + + + + Building upon solid creative foundations + + + Greensword and the rest of the creative team at Buro Happold continuously explore ways to push the limits of technology and creativity to better communicate the teams' creative vision with clients. The team pushed the limits of Adobe XD to create exploding technical illustrations without creators needing to code advanced animations. Creators also introduced a user interface in Adobe Acrobat that guides different client stakeholders through the most relevant information in documents in PDF. + + + "We like to say that good work leads to more work," says Greensword. "We're always building upon past work. We're constantly growing and evolving, allowing us to work smarter and communicate our most innovative ideas to clients." + + + +https://blog.adobe.com/en/publish/2022/10/27/mig-elevates-both-live-virtual-events-by-pushing-boundaries-content-adobe-creative-cloud + + +https://blog.adobe.com/en/publish/2022/08/25/tata-consultancy-services-adobe-collaborate-bespoke-design-system-service + + +https://blog.adobe.com/en/publish/2022/05/05/accenture-productions-takes-video-to-a-new-level-with-adobe-creative-cloud + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Adobe Inc. published this content on 23 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 January 2023 14:03:07 UTC. + + diff --git a/news/ADBE/2023.01.23/Intellectual Property Updates From India.txt b/news/ADBE/2023.01.23/Intellectual Property Updates From India.txt new file mode 100644 index 0000000000000000000000000000000000000000..60620fa2c7ee85456b5b422f08e16ece18937192 --- /dev/null +++ b/news/ADBE/2023.01.23/Intellectual Property Updates From India.txt @@ -0,0 +1,13 @@ +INTRODUCTIONThe close of 2022 witnessed some key developments in the field of Intellectual property rights. A remarkable change was the increasing number of judgements where Courts started awarding high damages in trademark infringement suits. Another significant development has been that the 12th edition of the NICE classification system for trademarks now includes blockchain goods and services. This edition of our newsletter also tracks crucial jurisprudence with respect to design infringement, using a trademark in a descriptive manner, and the declaration of 'BUKHARA' as well-known trademark. Other intriguing snippets of this edition includes GI tags obtained for Nicobari Hodi Craft and Japanese Sake. We do hope you enjoy reading this edition and wish everyone a wonderful and joyous 2023.CASE ANALYSISDELHI HIGH COURT AWARDS RS. 2 CRORE DAMAGES TO ADOBE IN A TRADE MARK INFRINGEMENT SUITAdobe, Inc. ("Plaintiff") had filed a suit for trade mark infringement against Namase Patel and others ("Defendants") before the High Court of Delhi ("High Court") alleging that they violated Adobe's trade mark by using the domain names www.addobe.com and www.adobee.com ("contested domain names").1 As the Defendants were also utilizing a number of subdomain names inside the contested domain names, which included the Plaintiff's marks "PHOTOSHOP" and "SPARK," the Plaintiff also claimed that these marks were infringed.While noting that previously also, similar suits have been filed against the Defendants whereby the High Court observed that the Defendant is a "repeated cybersquatter, whose main sphere of activities involves infringing well-known domain names by using deceptively similar domain names and subsequently engaging in further misuse and infringing activities." The Court while upholding the Plaintiff's rights in its wellknown mark "ADOBE", granted a permanent injunction restricting the Defendants from using the trade marks of the Plaintiff and further granted damages to the Plaintiff for an amount of INR 2,00,01,000/- (USD 2,42,498/-).HIGH COURT OF DELHI PROHIBITS AQUALITE FROM COPYING THE DESIGN OF RELAXO'S FOOTWEARIn an appeal filed by Relaxo Footwears ("Relaxo"), a Division Bench of the High Court of Delhi has set aside the decision of the Single Bench and restrained Aqualite Industries Pvt. Ltd. ("Aqualite") from manufacturing, selling, offering for sale, or in any manner dealing with products infringing the design of footwears of Relaxo.2In the year 2018, Relaxo had filed a suit3 against the Respondent for infringement of its design bearing no. 294938 ("Relaxo's Design"). Vide judgment dated May 06, 2019, the Single Bench held that Relaxo's designs were not unique and that other products with the same patterns were easily accessible on the market. A market survey report and a letter from a sales manager of a chinese company attesting to the popularity of the strap over a lengthy period of time were also considered by the Single Bench in reaching this conclusion.Thereafter, an appeal was preferred before a Division Bench of the Delhi High Court by Relaxo, which in turn ruled that it is crucial to first review the relevant design application of Relaxo and that it is relevant to compare the competing designs. The Division Bench noted that it is apparent from the above images that the design of Aqualite's products is almost identical to the Relaxo's Design. The only question to be considered is whether registration of Relaxo's Design is proscribed under Section 4(a) and 4(c) of the Designs Act, 2000 which prohibit the registration of designs that are not noticeably different from existing designs or combinations of existing designs. According to Aqualite, Relaxo's Design is not new or original and is also not distinguishable from known designs or a combination of known designs.The Division Bench while comparing the design of Relaxo's product held that the conclusion of the learned Single Judge is not based on the findings that Relaxo's Design is indistinguishable from designs that were known at the time of the registration. It is based on prima facie, opinion that there are products with similar designs currently available in the market. Thus the 'prima facie' conclusion of the learned Single Judge is not well founded. The judgment of the Single Judge was therefore set aside by the Division Bench.WHETHER PROVIDING A LINK ON A WEB PAGE THAT ENABLES A CUSTOMER TO ACCESS THE SITE OR A WEB PAGE OF ANOTHER SELLER CONSTITUTES PASSING OFF: HIGH COURT OF DELHI TO EXAMINEn August 2022 a Single Judge Bench of the High Court of Delhi ("Single Bench") had granted an ad-interim injunction in favour of Akash Aggarwal ("Plaintiff") restraining Flipkart Internet Pvt Ltd ("Flipkart") and other e-commerce entities ("Defendants") from allowing third parties to 'latch on' to the Plaintiff's trade name/mark "V-Tradition", on its e-commerce platform.As per the Plaintiff, the Defendants are encouraging and allowing third party sellers to 'latch on' and use the Plaintiff's name/mark along with photographs of the Plaintiff's products, to sell their products on its platform. The Plaintiff submitted that when a third-party seller places a listing on the Defendants' respective platforms, it suggests the Plaintiff's products as one of the best sellers and allows them to add products under the Plaintiff's name/mark along with the Plaintiff's photographs into their listings. Flipkart by itself submitted that it would take down third party listings under the Plaintiff's name/ mark.The Single Bench noted that permitting a third-party seller to 'latch on' to the Plaintiff's name/mark and product listings on an e-commerce platform is nothing but 'riding piggyback' as is known in the traditional passing-off sense in the brick and mortar world and amounts to taking unfair advantage of the goodwill that resides in the Plaintiff's name/mark and business. The Single Bench granted injunction against the Defendants to prevent them from "latching on" to the Plaintiff's product listings in order to promote their products, which are in no way related to the Plaintiff. While granting injunction, the Single Bench held that such a feature cannot be allowed to be used to the detriment of the owner of a brand, and accordingly, granted an ad-interim injunction in favour of the Plaintiff.4Later on, an appeal was filed by Flipkart before the Division Bench of Delhi High Court. The Division Bench while staying the observations made by the Single Judge Bench, held that it is necessary to examine the issue of whether providing a link on a web page that enables a customer to access the site or a web page of another seller constitutes passing off, whereby the observations made by the Single Bench were stayed till the next date of hearing.5HIGH COURT OF DELHI DETERMINES THE CORRECT JURISDICTION FOR APPEALS AGAINST PATENT OFFICE ORDERSRecently, the High Court of Delhi ("High Court") in the matter of Dr. Reddys Laboratories Limited & Anr. v. The Controller of Patents & Ors.6 has decided upon the question, of whether upon the abolishment of the Intellectual Property Appellate Board ("IPAB"), all High Courts can entertain revocation petitions and appeals. The High Court also deliberated upon the method to determine the jurisdiction concerning for filing of revocation application under Section 64 and appeals under Section 117A of the Patents Act, 1970 ("Patents Act") after enactment of the Tribunal Reforms Act 2021 ("TRA")The High Court held that the term 'appropriate office' is of immense significance in the process of prosecution and grant of a patent application in India. The High Court noted that due to high volume of cases, the Controller of Patents has been allocating examination of applications across several Patent Offices across the country due to the enormous number of cases. As a result, problems occur when, for example, a Delhi Patent Office application was scheduled to be considered before the Controller at the Mumbai Patent Office. The appeal to such an order was not necessarily being filed before the High Court of Delhi, however, with this order, the High Court has interpreted that the 'appropriate office' in the case of a patent application shall be the Patent Office where all procedures and proceedings related to the patent application have to take place, regardless of the fact that a hearing may have been scheduled before another Patent Office. Consequently, the High Court held that 'The appropriate office is, thus, the situs of the patent application.'Footnotes1. Adobe Inc. v. Namase Patel and Others, CS (COMM) 159/2022, November 29, 2022.2. Relaxo Footwears Limited v. Aqualite Industries Pvt Limited, FAO (OS) (COMM) 145 of 2019, October 27, 20223. Relaxo Footwears Limited v. Aqualite Industries Pvt Limited, CS(COMM) No. 1288/2018]4. Akash Aggarwal vs. Flipkart Entertainment Pvt Ltd & Ors, CS(COMM) 492/2022, order dated August 02, 20225. Flipkart Internet Pvt Ltd v Akash Aggarwal, FAO (OS) (COMM) 282/2022, order dated September 29, 2022.6. Dr. Reddys Laboratories Limited & Anr. v. The Controller of Patents & Ors. C.O. (CONN.IPD-PAT) No. 3/2021, November 10, 2022.To view the full article, click here.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +IndusLaw   +IndusLaw +2nd Floor,Block D, The MIRA +Mathura Road, Ishwar Nagar +New Delhi +110 065 +INDIA +Tel: 1147821000 +Fax: 1147821097 +E-mail: prachi.bhardwaj@induslaw.com +URL: www.induslaw.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/ADBE/2023.01.23/Media Alert : Adobe Video Tools Power Majority of Films at 2023 Sundance Film Festival.txt b/news/ADBE/2023.01.23/Media Alert : Adobe Video Tools Power Majority of Films at 2023 Sundance Film Festival.txt new file mode 100644 index 0000000000000000000000000000000000000000..e767a2df4c69ac7ebee20c7cf0012cf5845c7c8b --- /dev/null +++ b/news/ADBE/2023.01.23/Media Alert : Adobe Video Tools Power Majority of Films at 2023 Sundance Film Festival.txt @@ -0,0 +1 @@ +Media Alert: Adobe Video Tools Power Majority of Films at 2023 Sundance Film Festival.Sundance Institute selects Adobe Premiere Pro and Frame.io for daily festival recaps, social media contentCamera to Cloud now used by 6,000 productions; industry-first Camera to Cloud integration with RED Digital Cinema available nowNew AI capabilities accelerate video editing and reduce tedium using content-aware text searches, now available in betaToday, Adobe (Nasdaq:ADBE) announced that its video editing and collaboration tools are the most popular with Sundance Film Festival filmmakers - for the fifth year in a row. This year's annual Sundance Institute survey found that over two-thirds (67%) of Sundance films used Adobe Premiere Pro or Frame.io to bring their stories to life: Premiere Pro is the festival's most popular video editing software, used by more than half of Sundance films, including Plan C, Going Varsity in Mariachi, Sometimes I Think About Dying and Fremont, among many others.Additionally, Adobe Creative Cloud tools including After Effects, Photoshop and the Substance 3D Collection were used in making nearly three-quarters of the 2023 films. Since the pandemic, hybrid filmmaking has become the norm, making remote collaboration critically important. The addition of Frame.io to Creative Cloud is empowering Sundance Film Festival storytellers with innovative, powerful cloud technologies to shoot, cut and review footage alongside anyone, anywhere in the world.'I love how collaborative and intuitive Premiere Pro is,' said Meredith Perry, editor of Plan C. 'Premiere Pro helped us stay on track while editing and offered specific features that were essential to the making of this film, such as the mosaic effect, which offered a flexible, artistic option we used to blur out faces and proved crucial to protecting our participants from violence and/or prosecution.''I've been using Frame.io since 2018, and since then, it's been a game changer for me to be able to collaborate in the cloud with producers during post-production,' said Daniela I. Quiroz, editor of Going Varsity in Mariachi. 'Its integration with Premiere Pro has made the editing process so much more efficient - allowing me to get more work done in a shorter amount of time using Adobe Premiere Pro and Creative Cloud.''Premiere Pro worked perfectly for Devotion. It fits quite logically with how I edit and has certain advantages for visual effects, color correction and sound,' said Billy Fox, editor of Devotion, which started streaming on Paramount+ on Jan. 8. 'We were working remotely and Premiere Pro made it easy and efficient to edit anywhere as if we were sitting next to each other in the same facility.'The Sundance Institute adopts Adobe's video toolsAdobe's innovative cloud-based workflows save time and money, enabling filmmakers and video creators to rapidly bring timely and inspiring stories to life, even when crews and editors are working at multiple locations. The Sundance Institute is using Adobe's video cloud workflow, including Camera to Cloud, Premiere Pro and After Effects, to create the Festival Daily Recap and videos for its social media channels.Quickly publishing content during live events requires fast turnarounds and streamlined workflows. Camera to Cloud eliminates the need to download media and transport hard drives so media transfer is near-instantaneous, media replacement Motion Graphics templates simplify the addition of professional animations, and Adobe Sensei AI features reduce repetitive tasks at every stage. Together with Frame.io, editorial teams are able to start cutting sooner so they can deliver content faster, saving production and post-production hours.'We've always been proud of our Daily Recaps. With Adobe's video cloud workflow, it has allowed our teams to gather content from the far corners of our event to collaboratively turn around a compelling piece of content the next morning, capturing the excitement and amplifying the moment,' said Holden Payne, technical director of Exhibition for the Sundance Film Festival. 'This improved workflow has loosened the pressure on our creative and editorial teams and will allow them to put great content on the screen.'Camera to Cloud now used by 6,000 productionsAt the most recent Adobe MAX, Adobe previewed an industry first: Camera to Cloud integration built directly into RED Digital Cinema's V-RAPTOR and V-RAPTOR XL camera systems. Available now, this integration enables footage to transfer directly from on-set cameras to cloud-based Frame.io folders without the need for intermediate devices, so post-production teams located anywhere can start work on the footage immediately, saving both production costs and time.Now used globally by more than 6,000 productions, Adobe's first-to-market Camera to Cloud technology (powered by Frame.io) ignited the transition from external drives to cloud-based camera workflows, fundamentally changing the way video is created. This new in-camera evolution is anticipated to become a standard within the next decade, enabling future filmmaking to be fully cloud-powered.New web video editing capabilities available in betaIn addition, Adobe introduced Project Blink, AI-powered web video editing that can recognize objects, people, sounds and words spoken in videos, enabling users to edit content considerably faster than before. To create clips, users input text to search for specific words, objects, sounds or even types of activities within the video, then select the portion of the video transcript or script they'd like to use. Adobe AI automatically transforms that portion of the video into a new clip, making the process of editing a video as easy as using a word processor.Since documentary filmmakers routinely devote entire sessions to combing through footage using traditional video editing tools, and feature film editing similarly requires extensive searches for recorded lines that match film scripts, Project Blink will cut hours or days of tedious labor down to just minutes. Now available in beta, Project Blink demonstrates the incredible power and innovation Adobe AI is bringing to future filmmaking.For more information on Adobe's activities and programs at this year's Festival, including Sundance Ignite x Adobe Fellows and Sundance Women to Watch x Adobe Fellows, please visit https://blog.adobe.com/en/publish/2023/01/17/stories-of-filmmakers-creators-dreamers-beyond-bring-us-together-2023-sundance-film-festival.About AdobeAdobe is changing the world through digital experiences. For more information, visit www.adobe.com.2023 Adobe. All rights reserved. Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe in the United States and/or other countries. All other trademarks are the property of their respective owners.Public relations contactMarissa LeeAdobemarlee@adobe.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/ADBE/2023.01.24/Adobe : Zolaz debuts new cloud gaming service built on Adobe Experience Manager.txt b/news/ADBE/2023.01.24/Adobe : Zolaz debuts new cloud gaming service built on Adobe Experience Manager.txt new file mode 100644 index 0000000000000000000000000000000000000000..e6943470062354c8523a52e0264ad371ce22249d --- /dev/null +++ b/news/ADBE/2023.01.24/Adobe : Zolaz debuts new cloud gaming service built on Adobe Experience Manager.txt @@ -0,0 +1,69 @@ + + + Zolaz debuts new cloud gaming service built on Adobe Experience Manager + + + Video games make up a big share of the entertainment content that people engage with on their mobile phones and other screens. Seeking to tap into this lucrative market and help its customers make the most of its high-speed broadband and 5G data services, Singaporean telecommunications firm M1 Limited decided to offer a streaming gaming service. + + + Unlike many firms that partner with big companies to offer gaming, M1 saw the chance to control its own destiny by building its own branded service. Zolaz is M1's new on-demand, subscription gaming service that takes advantage of innovations in cloud infrastructure and fast network speeds to offer customers an added service to increase revenue and brand loyalty. + + +https://blog.adobe.com/en/promotions/products/experience-cloud/experience-manager + + + Data insights to match gamers preferences + + + For an additional monthly fee, Zolaz customers get unlimited play on more than 450 games across any connected device for up to five simultaneous players. Zolaz publicizes individual game titles and handles subscription signups on its website, built with Adobe Experience Manager. Integration with Adobe Analytics enables the company to recommend games or promotional offers to customers based on their behavior, location, and other factors. + + + For example, consumers that play a strategy or role-playing game will see cross-promotions for other popular games in that category. With many categories, including action-adventure, racing, puzzles, sports, and local multi-player games, Zolaz can target its gaming entertainment options for all tastes and age groups. + + + "We are focused on delivering the best hyper-personalized experiences for customers at every touch point, with tailored products and propositions that match their lifestyles and preferences," says Li-Na Wang, director of product management and platform services for M1. "Our core business is in connecting customers, but we also want to create ongoing engagement with customers by offering popular services at a great value." + + + The company launched the Zolaz website in just eight weeks with the help of Adobe Professional Services. The team leveraged out-of-the box components and templates to enable Zolaz to quickly and independently author and update gaming website content. An integrated subscription workflow also makes signing up for the service seamless for customers. + + + "We can go to market faster because our team can make content updates independently and efficiently. The tools are so easy to use; changes that might otherwise take a couple of weeks are now done in just a few days," says Wang. "Adobe Experience Manager really improves our productivity. We can manage our dynamic content in real time, so we are more responsive to changing customer preferences." + + + Advancing digital native lifestyles + + + A gaming tournament held at M1's flagship store at Peranakan Place celebrated the debut of Zolaz, with extra publicity thanks to participation by a pair of well-known TikTok creators. Zolaz plans to introduce at least one new game every week, aided by partnerships with DigiPen Institute of Technology Singapore and Republic Polytechnic to publish student-developed games. + + + "Zolaz allows us to engage customers by connecting and enhancing the value of their experiences with all of our company's services," Wang says. "With the help of Adobe, we can influence and control that destiny by setting a high bar for enjoyable gaming experiences that highlight our service's high performance. Our goal is to make Zolaz top of mind for people wanting to enjoy the amazing benefits of a next-gen digital lifestyle." + + + +https://blog.adobe.com/en/publish/2023/01/23/buro-happold-orchestrates-future-communities-creative-sustainable-solutions + + +https://blog.adobe.com/en/publish/2023/01/18/embracing-creativity-digital-literacy-with-adobe-express-in-new-mexicos-public-schools + + +https://blog.adobe.com/en/publish/2022/12/13/yamamoto-brings-3d-in-house-adobe-substance-3d-stager + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Adobe Inc. published this content on 24 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 14:06:01 UTC. + + diff --git a/news/ADBE/2023.02.01/Adobe Lightroom Brings Professional Photo Editing to Samsung Galaxy S23 Series.txt b/news/ADBE/2023.02.01/Adobe Lightroom Brings Professional Photo Editing to Samsung Galaxy S23 Series.txt new file mode 100644 index 0000000000000000000000000000000000000000..bcdc58600677554237ffaf657555c04404c693fb --- /dev/null +++ b/news/ADBE/2023.02.01/Adobe Lightroom Brings Professional Photo Editing to Samsung Galaxy S23 Series.txt @@ -0,0 +1,33 @@ + +Today, Adobe (Nasdaq:ADBE) announced that Samsung Galaxy S23 series smartphones globally will use Adobe Lightroom as the exclusive default photo editor for RAW photos taken with the Expert RAW app. The Expert RAW app, available exclusively on Samsung Galaxy, enables DSLR-style image shooting and editing in RAW and JPEG. Once downloaded, Expert RAW app functionality can also be accessed through the native Camera app on the Galaxy S23 series. For an enhanced Galaxy ecosystem experience, Samsung Galaxy Book3 Ultra and Pro series PCs will automatically transfer Expert RAW images from Galaxy S23 series devices, and allow users to edit images on Adobe Lightroom for professional-level results. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230201005419/en/Adobe Lightroom HSL (Photo: Business Wire) +Available for smartphones, tablets and PCs, Lightroom empowers users with AI-powered professional, Photoshop-class editing tools including image healing, lens correction and detail enhancement, so anyone can get the best results from the camera they’re carrying, wherever and whenever inspiration strikes. Across every platform, Lightroom edits photos in numerous formats including RAW and JPEG, offering mobile users speed and ease on the go, with added precision and control during editing sessions on larger screens. + +As the only photo editor directly integrated with the Expert RAW app, Lightroom enables Galaxy S23 series users to start editing RAW photos with a tap. Built with presets and tutorials for hobbyists and advanced detail enhancement technologies for pros, Lightroom offers every user a world-class photo editing experience. Users will benefit from Lightroom’s image processing, straightforward controls and flexibility, including differentiators such as cloud storage so users can instantly send their RAW photos to the cloud, freeing up precious smartphone space while unlocking synchronized editing across other devices. + +“We’re excited to see Samsung enhance the Expert RAW app as a native camera option, with Lightroom as the default and only photo editor,” said Scott Belsky, chief product officer and executive vice president, Creative Cloud at Adobe. “The combination of Expert RAW with Lightroom’s powerful yet accessible editing tools, presets and tutorials give anyone the ability to make professional-level enhancements to their images.” + +“Samsung is proud to offer a suite of tools on the Galaxy S23 series that differentiate Galaxy users’ photography experiences, featuring Lightroom as the default Expert RAW editing tool for our Galaxy smartphones,” said Joshua Sungdae Cho, executive vice president and head of visual SW R&D, Mobile Experience Business at Samsung Electronics. “With more power, speed and efficiency, photographers and creators around the world will experience new possibilities and ultimately change how they use smartphones for photography.” + +The Magic of RAW + +Compressed image formats including JPG and HEIF limit both the quality of photos and users’ ability to edit fine details. New camera technology in Samsung’s Galaxy S23 series delivers the highest resolution and image quality in Galaxy history, including support for higher resolution and uncompressed 16-bit RAW images, as well as superior astrophotography and multi-exposure performance. Shooting in RAW is transformative for mobile photographers, unlocking real-world colors and details that were historically impossible to capture with smartphones. + +Lightroom is the industry standard for editing photos, offering powerful, end-to-end editing tools that take advantage of the dynamic range of data available in RAW photos. Using Lightroom’s powerful features – including thousands of one-click image improvement presets, sharpening and smoothing, masking, color correction, noise reduction and automatic version saving – mobile photographers of all skill levels can take full control of their photos wherever they are, and rapidly achieve their visions. + +Join the Lightroom Community + +Lightroom welcomes users to join an inspiring community, so photographers can take their skills to the next level. Some of Lightroom’s many benefits include: + +Availability + +Samsung’s Expert RAW app is available for download from the Galaxy Store. + +Adobe Lightroom is available for download via the Galaxy Store, Google Play Store and Adobe Creative Cloud app for PCs. + +About Adobe + +Adobe is changing the world through digital experiences. For more information, visit www.adobe.com. + +© 2023 Adobe. All rights reserved. Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe in the United States and/or other countries. All other trademarks are the property of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005419/en/ \ No newline at end of file diff --git a/news/ADBE/2023.02.08/Adobe and Microsoft Bring Industry-Leading Acrobat PDF Experience to 1.4 Billion Window...txt b/news/ADBE/2023.02.08/Adobe and Microsoft Bring Industry-Leading Acrobat PDF Experience to 1.4 Billion Window...txt new file mode 100644 index 0000000000000000000000000000000000000000..bb5ecded3e429cdca6b18f7524a170661d39a42e --- /dev/null +++ b/news/ADBE/2023.02.08/Adobe and Microsoft Bring Industry-Leading Acrobat PDF Experience to 1.4 Billion Window...txt @@ -0,0 +1,29 @@ + +Today, Adobe (Nasdaq:ADBE) and Microsoft Corp. (Nasdaq: MSFT) have taken the next step in their commitment to transform the future of digital work and life by bringing Adobe Acrobat’s PDF capabilities to more than 1.4 billion Microsoft Windows users in Microsoft Edge. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230208005269/en/Microsoft Edge Partnership (Graphic: Business Wire) +Together, the two companies are updating the PDF experience and value users have come to expect in Microsoft Edge by powering the built-in PDF reader with the Adobe Acrobat PDF engine. This will give users a unique PDF experience that includes higher fidelity for more accurate colors and graphics, improved performance, strong security for PDF handling and greater accessibility—including better text selection and read-aloud narration. These capabilities will continue to be free of cost. + +“Bringing Adobe and Microsoft closer together is good for productivity and good for customers,” said Jared Spataro, corporate vice president, Modern Work & Business Applications at Microsoft. “Adobe’s PDF technology in Microsoft Edge means users will have fast and secure access to critical digital document capabilities.” + +“PDF is essential for modern business, accelerating productivity in a world where automation and collaboration are more critical than ever,” said Ashley Still, senior vice president and general manager at Adobe. “By bringing the global standard in PDF experience to Microsoft Edge and the billion-plus Windows users worldwide, Adobe and Microsoft are using our joint heritage and expertise in productivity to take an important step forward in making modern, secure and connected work and life a reality.” + +Users who want more advanced digital document features—such as the ability to edit text and images, convert PDFs to other file formats and combine files—can purchase an Acrobat subscription that enables access to these features anywhere, including directly inside Microsoft Edge via a browser extension. Microsoft Edge users with existing Adobe Acrobat subscriptions can use the Acrobat extension inside Edge at no extra cost. + +In the age of digital transformation, the web browser is the place where people collaborate, share information and get work done in the cloud. Users across the world interact with trillions of PDF files across web, mobile and desktop. With Adobe Acrobat capabilities powering the PDF experience in Edge, Windows 10 and Windows 11 users can use Adobe’s best-in-class PDF capabilities within the Microsoft Edge web browser, without the need to download or switch to a separate application. + +Phased Rollout + +To meet the needs of organizations with managed devices, the transition to the built-in Microsoft Edge PDF reader with the Adobe Acrobat PDF rendering engine will occur in phases, with an initial opt-in option for managed devices. The Microsoft Edge PDF solution with the legacy engine is scheduled to be removed in March 2024. For more details, please see the FAQ. + +This announcement is part of an ongoing Adobe and Microsoft initiative that is transforming digital work and life by bringing Adobe’s industry-leading PDF, e-signature and document automation tools directly to Microsoft users. This PDF experience in Microsoft Edge joins an already comprehensive set of Adobe PDF and e-sign integrations across Microsoft solutions, including Microsoft 365, Microsoft Teams, SharePoint and others. This is another step in our shared journey to bring people continued innovation, efficiency and productivity in their digital work and lives. + +About Adobe + +Adobe is changing the world through digital experiences. For more information, visit www.adobe.com. + +About Microsoft + +Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more. + +© 2023 Adobe. All rights reserved. Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe in the United States and/or other countries. All other trademarks are the property of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230208005269/en/ \ No newline at end of file diff --git a/news/ADBE/2023.02.09/Falling online prices point to U.S. goods deflation continuing.txt b/news/ADBE/2023.02.09/Falling online prices point to U.S. goods deflation continuing.txt new file mode 100644 index 0000000000000000000000000000000000000000..eb274761d1359ca4caaf959dccdac71b67b00bbd --- /dev/null +++ b/news/ADBE/2023.02.09/Falling online prices point to U.S. goods deflation continuing.txt @@ -0,0 +1 @@ +Adobe's Digital Price Index (DPI), structured around the same categories of goods in the U.S. Labor Department's Consumer Price Index (CPI), rose on a month-to-month basis from December to January as a result of steep holiday discounting.But the year-over-year price drops for goods have been helping pull overall inflation measures lower, the data compiled by the U.S. software company showed.GRAPHIC: Online prices ease https://www.reuters.com/graphics/USA-ECONOMY/INFLATION/xmvjkozygpr/chart.png Patrick Brown, vice president of growth marketing and insights at Adobe, said he felt competition for online sales as well as the impact of inflation on consumers would continue to be felt. "Current demand levels are driving retailers to hold prices down and continue to clear out excess inventory," Brown said. New CPI data is scheduled to be released next week, with economists expecting it to show another slowdown.Fed officials have been cognizant of the benefit falling goods prices have had in the recent moderation of inflation, and say they will be watching closely to see if that spreads to the much larger service sector, a necessity if inflation is to return to the central bank's 2% target.The White House's Council of Economic Advisers (CEA) on Wednesday published a new study that it says suggests momentum may be developing in that direction. In recent months, Fed Chair Jerome Powell has focused on the fact that prices seem to still be increasing in core service industries outside the housing sector - among food service and healthcare firms, for example, that make up a large portion of the economy. Powell has said he regards inflation in those sectors as particularly sensitive to changes in wages, with any moderation in wage growth seen as evidence that the pace of price increases would also slow.The CEA study tried to isolate the pace of wage growth only in the sectors referred to by Powell, and concluded that it is slowing fast.For the bulk of workers in the so-called "core non-housing services" industries, hourly wages were growing at an 8% annual rate at the start of the year. The pace is now below 5%."Because non-housing services are more labor-intensive than the other categories, some surmise that the tight labor market may be playing a meaningful role in this part of inflation," the CEA wrote. Wage growth for production workers and supervisors "have both eased substantially." (Reporting by Howard Schneider; Editing by Paul Simao)By Howard Schneider \ No newline at end of file diff --git a/news/ADBE/2023.02.15/EU regulators to assess Adobe's proposed takeover of Figma.txt b/news/ADBE/2023.02.15/EU regulators to assess Adobe's proposed takeover of Figma.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9dbcd3af05d0cf182ffbf1b6205be5f299a92ee --- /dev/null +++ b/news/ADBE/2023.02.15/EU regulators to assess Adobe's proposed takeover of Figma.txt @@ -0,0 +1 @@ + (Reporting by Chavi Mehta in Bengaluru; Editing by Maju Samuel) \ No newline at end of file diff --git a/news/ADBE/2023.02.17/Salesforce, activist investor Elliott may soon reach deal - sources.txt b/news/ADBE/2023.02.17/Salesforce, activist investor Elliott may soon reach deal - sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..a61f3cd072269eccb6d9acbea7953d32b0cfb6e0 --- /dev/null +++ b/news/ADBE/2023.02.17/Salesforce, activist investor Elliott may soon reach deal - sources.txt @@ -0,0 +1,33 @@ +Feb 17 (Reuters) - Cloud-based software firm Salesforce +Inc and activist investor Elliott Management Corp are in +discussions to reach an agreement that may end a possible board +challenge, according to two people familiar with the matter.The battle at Salesforce has pitted Elliott as well as other +activist investors against Marc Benioff, one of Silicon Valley's +most iconic chief executives. Salesforce's growth has slowed +dramatically in recent quarters and last month the company said +it would cut 10% of jobs to address its performance.Activists, which also include Jeff Ubben's Inclusive Capital +Partners and Jeff Smith's Starboard Value, have been pushing for +Salesforce to increase growth and margins, buy back more shares, +and raised concerns about recent acquisitions.Elliott, which unveiled its stake in January and has been +engaging with the company for about a month, had searched for +director candidates laying the groundwork for a potential +challenge.A settlement could potentially bring the two sides together, +the sources said. But there is no indication on when an +agreement might be reached or what it might look like.Representatives for Salesforce and Elliott declined to +comment.Shares of the stock were down 2.4% in trading on Friday; +Salesforce has lost more than 20% of its value in the last 52 +weeks, trailing the S&P 500.The news of talks was first reported by CNBC.Earlier this year, Salesforce, which is valued at $168 +billion, said it planned to cut a tenth of jobs and close some +offices after rapid pandemic hiring left it with a bloated +workforce.The company also refreshed its board, adding the principal +of hedge fund ValueAct.ValueAct Capital's Mason Morfit will be joined by +Mastercard finance chief Sachin Mehra and former chief +executive of Carnival Corp Arnold Donald on the board.ValueAct has experience with companies like Salesforce after +Morfit served on the board of Microsoft, where the board set +cloud targets for management and tied them to a compensation +plan. ValueAct also had a board seat at Adobe.Elliott too has long invested in technology companies and in +the past reached settlements for board seats with companies +including Pinterest, Twitter and eBay. +(Reporting by Svea Herbst-Bayliss in New York; additional +reporting by Tiyashi Datta in Bengaluru; Editing by David +Gaffen, Shinjini Ganguli and Tomasz Janowski) \ No newline at end of file diff --git a/news/ADBE/2023.02.23/Adobe signs chip supplier Qualcomm for marketing tech software.txt b/news/ADBE/2023.02.23/Adobe signs chip supplier Qualcomm for marketing tech software.txt new file mode 100644 index 0000000000000000000000000000000000000000..1b9f66b0c2cd99ea1a33f870a7797f5f4e14c362 --- /dev/null +++ b/news/ADBE/2023.02.23/Adobe signs chip supplier Qualcomm for marketing tech software.txt @@ -0,0 +1 @@ +Once best known for tools like Photoshop used to create websites and digital marketing materials, Adobe has expanded its business to include software for managing those materials and tracking how well they work at bringing customers in the door. The subscription-based marketing software helped Adobe become one of the few software companies founded in the 1980s to navigate the transition to the modern cloud era and has helped nearly double its revenue since 2018.In Qualcomm's case, the deal to use Adobe's software comes as the San Diego, California-based semiconductor company is expanding its business from selling mobile phone chips into selling computing chips for cars, drones and other applications.That means that Qualcomm is trying to court customers in a variety of industries. One part of the company's website might need to show Android software developers how to work with Qualcomm's latest mobile phone chips, while another part of its website might need to have a portal where engineering teams automotive companies can order test systems for developing self-driving cars.The Adobe software aims to help Qualcomm keep tabs on those elements of its website and tweak them to help better draw in each set of customers."Whether a customer is buying a connected device or the cutting-edge chips inside, everyone now expects to have a brand experience that is captivating, connected and relevant," Don McGuire, Qualcomm's chief marketing officer, said in a statement.The companies did not disclose the value of the deal. (Reporting by Stephen Nellis; Editing by Simon Cameron-Moore)By Stephen Nellis \ No newline at end of file diff --git "a/news/ADBE/2023.02.23/DOJ Preparing Suit To Block Adobe\342\200\231S $20 Billion Deal For Figma - Bloomberg News.txt" "b/news/ADBE/2023.02.23/DOJ Preparing Suit To Block Adobe\342\200\231S $20 Billion Deal For Figma - Bloomberg News.txt" new file mode 100644 index 0000000000000000000000000000000000000000..2e8045681704d08d6c366ae5692d3ebeaf84ae0a --- /dev/null +++ "b/news/ADBE/2023.02.23/DOJ Preparing Suit To Block Adobe\342\200\231S $20 Billion Deal For Figma - Bloomberg News.txt" @@ -0,0 +1,5 @@ +Feb 23 (Reuters) -* DOJ PREPARING SUIT TO BLOCK ADOBE’S $20 BILLION DEAL FOR +FIGMA - +BLOOMBERG NEWS +Source text for Eikon: [https://bit.ly/3IuQNuG] +Further company coverage: \ No newline at end of file diff --git a/news/ADBE/2023.02.23/DOJ preparing antitrust suit to block Adobe-Figma deal - Bloomberg News.txt b/news/ADBE/2023.02.23/DOJ preparing antitrust suit to block Adobe-Figma deal - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..59d0b935bf07e9492f7fda4f3b3830700c9c1bda --- /dev/null +++ b/news/ADBE/2023.02.23/DOJ preparing antitrust suit to block Adobe-Figma deal - Bloomberg News.txt @@ -0,0 +1,7 @@ +Feb 23 (Reuters) - The U.S. Department of Justice is +preparing an antitrust lawsuit to block Adobe Inc's $20 +billion bid for cloud-based designer platform Figma, Bloomberg +News reported on Thursday, citing people familiar with the +matter. +(Reporting by Tiyashi Datta in Bengaluru; Editing by Shinjini +Ganguli) \ No newline at end of file diff --git "a/news/ADBE/2023.02.23/Doj preparing suit to block adobe\342\200\231s $20 billion deal for figma -\342\200\246.txt" "b/news/ADBE/2023.02.23/Doj preparing suit to block adobe\342\200\231s $20 billion deal for figma -\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..20269c91a7163385d06603db80f818912a2bcba8 --- /dev/null +++ "b/news/ADBE/2023.02.23/Doj preparing suit to block adobe\342\200\231s $20 billion deal for figma -\342\200\246.txt" @@ -0,0 +1 @@ +DOJ PREPARING SUIT TO BLOCK ADOBE’S $20 BILLION DEAL FOR FIGMA - BLOOMBERG NEWS \ No newline at end of file diff --git a/news/ADBE/2023.02.23/Qualcomm Selects Adobe To Deepen Customer Relationships With Real-Time Personalization.txt b/news/ADBE/2023.02.23/Qualcomm Selects Adobe To Deepen Customer Relationships With Real-Time Personalization.txt new file mode 100644 index 0000000000000000000000000000000000000000..4837c2f3cd4f4b797ba87416709f3ab5afe041ba --- /dev/null +++ b/news/ADBE/2023.02.23/Qualcomm Selects Adobe To Deepen Customer Relationships With Real-Time Personalization.txt @@ -0,0 +1,29 @@ + +Today, Adobe (Nasdaq:ADBE) announced a collaboration with Qualcomm Incorporated (Nasdaq:QCOM) to help fuel its digital strategy and that of its affiliated companies. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230222006091/en/Qualcomm (Photo: Business Wire) +Qualcomm will adopt Adobe Experience Cloud including Adobe Experience Platform (AEP) to deepen customer relationships and accelerate growth through highly personalized business-to-business (B2B) marketing. Adobe Commerce will enable Qualcomm to reimagine the customer experience for its developer community, allowing individuals to complete commerce transactions directly with the company. This collaboration will enable Qualcomm to reach new audiences, supporting its growth across segments including mobile, automotive and the internet of things (IoT), while solidifying its position as the world's leading wireless technology innovator. + +Combined with Adobe Experience Platform, Qualcomm will leverage a suite of applications including Adobe Real-Time Customer Data Platform, Adobe Journey Optimizer and Customer Journey Analytics. Together, these enterprise applications empower Qualcomm to connect data across all channels – from CRM and lead generation to website visits and emails – with governance and security. Teams can orchestrate content experiences across buyer journeys that may begin on a website and end at a trade show, while developing a feedback loop where insights are broadly shared across the organization. + +The new applications also amplify Qualcomm’s existing investments in Adobe Creative Cloud and Adobe Document Cloud, which teams leverage for digital content creation. AEP uses data to ensure content and new services are delivered to the right audiences, at the right times. Qualcomm is also expanding its use of Marketo Engage to support these efforts, with new measurement capabilities that provide deeper B2B insights on sales and marketing performance. This provides an additional layer of data to inform broad personalization campaigns. + +“Whether a customer is buying a connected device or the cutting-edge chips inside, everyone now expects to have a brand experience that is captivating, connected and relevant,” said Don McGuire, senior vice president and chief marketing officer of Qualcomm Technologies, Inc. “Adobe Experience Platform empowers us to reimagine the way we engage customers when they embrace our transformative technologies by integrating real-time personalization into our omnichannel approach.” + +“By adopting Adobe’s enterprise applications, Qualcomm has an end-to-end solution that will enhance omnichannel experiences for business customers and improve marketing performance,” said Anil Chakravarthy, president, digital experience business of Adobe. “The partnership will help Qualcomm take its own digital transformation to the next level and deliver new ways to showcase the transformative technologies it is delivering to the world.” + +As B2B customers embrace new channels to engage their technology partners, the industry is also moving towards a self-service model for certain use cases. Adobe Commerce, which leverages AI and advanced data sharing capabilities for end-to-end personalization, will enable Qualcomm to create custom content personalized for specific customer segments, including mobile, auto and IoT developers. Teams can quickly update pages and manage multiple businesses from a single platform. + +Building brand engagement among developers, a key focus for Qualcomm businesses, was another driver for this expanded collaboration. AEP enables teams to quickly verify drone developers who visit the company’s website, offer access to relevant IoT development kits, and use automated, self-servicing workflows to uncover insights. AEP also supports seamless transactions, which are critical for customers looking to make online purchases, such as automotive manufacturers looking to buy advanced driver assistance system (ADAS) solutions. Customers expect effortless digital journeys, which means best-in-case e-commerce capabilities must be in place to drive new sales. + +About Adobe + +Adobe is changing the world through digital experiences. For more information, visit www.adobe.com. + +About Qualcomm + +Qualcomm is enabling a world where everyone and everything can be intelligently connected. Our one technology roadmap allows us to efficiently scale the technologies that launched the mobile revolution – including advanced connectivity, high-performance, low-power compute, on-device intelligence and more – to the next generation of connected smart devices across industries. Innovations from Qualcomm and our family of Snapdragon platforms will help enable cloud-edge convergence, transform industries, accelerate the digital economy and revolutionize how we experience the world, for the greater good. + +Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering, research and development functions, and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patented technologies are licensed by Qualcomm Incorporated. + +© 2023 Adobe. All rights reserved. Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe in the United States and/or other countries. All other trademarks are the property of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230222006091/en/ \ No newline at end of file diff --git a/news/ADBE/2023.02.23/U.S. preparing antitrust suit to block Adobe plan to buy Figma -Bloomberg News.txt b/news/ADBE/2023.02.23/U.S. preparing antitrust suit to block Adobe plan to buy Figma -Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..065dfbc6a23ee6ded5dcbcd5ffa5ba2d4268bbef --- /dev/null +++ b/news/ADBE/2023.02.23/U.S. preparing antitrust suit to block Adobe plan to buy Figma -Bloomberg News.txt @@ -0,0 +1 @@ +The lawsuit could come as early as next month, Bloomberg reported.Responding to the report, Adobe said it and Figma were in different product areas, with Figma focusing on interactive designs."We are engaged in constructive and cooperative discussions with regulators in the US, UK and EU among others. We continue to expect to close the transaction in 2023," the company said in a statement.The Justice Department declined comment.Adobe shares edged lower in trading post-market trading after the story came out.Adobe, which makes Photoshop, said in September it would buy Figma, with investors concerned about the hefty price tag. (Reporting by Diane Bartz in Washington and Tiyashi Datta in Bengaluru; Editing by Shinjini Ganguli) \ No newline at end of file diff --git a/news/ADBE/2023.02.24/Bad surprise.txt b/news/ADBE/2023.02.24/Bad surprise.txt new file mode 100644 index 0000000000000000000000000000000000000000..4d756925f13faa50eab0fe9c59a3af4c3fc53057 --- /dev/null +++ b/news/ADBE/2023.02.24/Bad surprise.txt @@ -0,0 +1,37 @@ + +The personal consumption expenditures report was released at 8:30 a.m. ET, and gave further clarity on the state of price pressures in America. +The PCE price index excluding food and energy rose 0.6% for the month, and was up 4.7% from a year ago, the Commerce Department revealed. Including the volatile food and energy components, headline inflation gained 0.6% and 5.4% respectively. + +Once again, this data is seen by investors as a potential tipping point for the markets. Until the next potential tipping point, since the market loves to rely on this type of milestone. In reality, the consequences are rarely binary. Let's look at what we're talking about and what it means. +The US publishes two main types of monthly inflation. CPI inflation, which measures overall price changes and is published the second week after the end of the month. And the so-called PCE inflation, ten days later. PCE stands for "Personal Consumption Expenditures". It focuses on the prices paid by individuals for goods and services, which makes it possible to refine consumption patterns. It is apparently the inflation measure that the Fed looks at the most, precisely the one called "Core PCE", which excludes the impact of energy and food. +Today's data is much higher than anticipated, since economists expected that Core PCE inflation would rise by 0.4% between December and January, for an annual change of 4.3%, down from December’s 4.4%. A quick reminder: just because the price increase is higher from one month to the next does not necessarily mean that the year-on-year change is higher, because the basis of comparison is different. +Higher-than-expected inflation was the worst possible surprise, because investors now fear that the Fed will raise rates beyond current projections, or even over a longer time frame. +In other news, corporate results remain robust and yesterday boosted most indices. In Europe, markets rich in cyclical stocks benefited, with modest gains in Paris, Frankfurt, Milan and Madrid. Initially hesitant, Wall Street was up, thanks in particular to a Nasdaq spurred on by the semiconductor pocket, after the solid prospects of Nvidia, whose stock soared by 14%. On the other hand, Hong Kong was weighed down by Alibaba's results. +  +Today's economic highlights: +US household income and spending and PCE inflation are today’s main indicators. All the agenda is here. This morning, Japan announced annual inflation of 4.2%, slightly lower than expected. +The dollar is slightly up to EUR 0.9461 and GBP 0.8351. The ounce of gold remains under pressure at 1816 dollars. Oil is waking up, with North Sea Brent at USD 82.57 a barrel and US WTI light crude at USD 76.09. The yield on 10-year US debt falls back a bit to 3.87%. Bitcoin retreats below USD 24,000. +  +In corporate news : +* Boeing lost nearly 3 percent in premarket trading after announcing the temporary suspension of deliveries of the 787 Dreamliner in order to conduct additional testing of a fuselage component, the U.S. Federal Aviation Administration (FAA) said Thursday night. +* Adobe lost 3.5 percent in premarket trading after Bloomberg reported that the U.S. Justice Department is set to block the Photoshop maker's $20 billion (€18.87 billion) takeover of Figma. +* Warner Bros Discovery is down 2.14% in after-hours trading after it reported a $2.1 billion fourth-quarter net loss Thursday night, partly related to a restructuring charge following the merger of Discovery with AT&T's WarnerMedia division. +* Beyond Meat jumped 14.3% in pre-market trading as the "vegetable meat" specialist anticipated full-year sales above analysts' expectations and further cost control. +* Block (formerly Square) gained 2.07% in after-hours trading as the payment services company said Thursday night it expects adjusted EBITDA to rise 30% to about $1.3 billion this year. +* Autodesk fell 3% in after-hours trading after the company issued a forecast for annual revenue growth of between 7% and 9%, compared with the Refinitiv consensus of 9.03%. +  +Analyst recommendations: + +Domino's Pizza: Baird downgrades to neutral from outperform. PT up 3.9% to $320. +Imax: Morningstar downgrades Imax to Hold from Buy, $19 Price Target. +Integer: Piper Sandler initiated coverage with a recommendation of overweight. PT up 15% to $85. +LyondellBasell: RBC Capital Markets upgrades to outperform from sector perform. PT up 37% to $130. +Moderna: Morgan Stanley lowers PT to $185 from $205. Maintains equal-weight rating. +Netapp - Credit Suisse lowers its recommendation to "neutral" from "outperform"  +NVidia - Goldman Sachs raised its recommendation to "buy" from "neutral"  +Stericycle: Baird downgrades to neutral from outperform. PT up 8.5% to $53. +W.W. Grainger: RBC Capital Markets upgrades to sector perform from underperform. PT up 3.2% to $679. +Yeti Holdings: Jefferies lowers PT to $57 from $75. Maintains buy rating. + +  + diff --git a/news/ADBE/2023.02.24/Stocks drop as investors sweat rate hikes.txt b/news/ADBE/2023.02.24/Stocks drop as investors sweat rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..4a1568b9e7b414a37cdcd616e1012ca960acbd3a --- /dev/null +++ b/news/ADBE/2023.02.24/Stocks drop as investors sweat rate hikes.txt @@ -0,0 +1 @@ +Data showing U.S. economic resilience signaled for investors the U.S. Federal Reserve would likely continue its pace of rate hikes, raising borrowing costs and sending many to press the sell button.The Dow lost one percent, the Nasdaq fell closer to two percent, and the S&P 500 declined close to one percent.After a strong performance in January, stocks have retreated this month as a slew of economic data amplified worries that the U.S. central bank might have to keep rates higher for longer.A Friday report showed consumer spending last month rose at its fastest pace in nearly two years, while an inflation measure closely watched by the Fed also climbed.Melissa Brown, managing director of applied research at Qontigo warned that more aggressive action from the Fed to curb rising prices could raise the risks of a recession."Instead of an increase in in rates of 25 basis points, there's a higher probability that that interest rate increase is going to be 50 basis points and the higher the increase that we see in interest rates, the more likely it is that we will actually tip into a recession. And I think that's the major concern that we're seeing today."Some of the biggest drags on the market though were unrelated to the broader economic picture:Boeing slid five percent after the Federal Aviation Administration said the plane maker temporarily halted deliveries of its 787 Dreamliner jets.Adobe slumped about eight percent on reports the U.S. Justice Department would block the Photoshop maker's $20 billion bid for cloud-based designer platform Figma.One stock moving in the other direction was Beyond Meat, which surged 10 percent as the plant-based meat maker's results indicated that its cost-control measures were finally bearing fruit. \ No newline at end of file diff --git a/news/ADBE/2023.02.24/Wall St closes sharply down, biggest weekly drop of 2023.txt b/news/ADBE/2023.02.24/Wall St closes sharply down, biggest weekly drop of 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..3d88d3c153083b4eae4b284ff1113d617221b66c --- /dev/null +++ b/news/ADBE/2023.02.24/Wall St closes sharply down, biggest weekly drop of 2023.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*PCE index up 0.6% m-o-m in Jan after 0.2% rise in Dec*Boeing slides on 787 Dreamliner jets temporary halt*Adobe falls as DoJ to block Figma deal - reportFeb 24 (Reuters) - Wall Street closed well down on +Friday, dragging all three main stock indexes to their biggest +weekly drop of 2023, as investors braced for the possibility of +more aggressive rate hikes from the U.S. Federal Reserve as U.S. +economic data pointed to resilient consumers.All three indexes posted weekly declines of around 3%, with +the blue-chip Dow Jones Industrial Average on track for +its biggest weekly decline in five months.After a strong January, stocks have retreated this month as +a slew of economic data amplified worries that the U.S. central +bank might have to keep rates higher for longer.Data on Friday showed the personal consumption expenditures +(PCE) price index, the Fed's preferred inflation gauge, shot up +0.6% last month after gaining just 0.2% in December. Consumer +spending, which accounts for more than two-thirds of U.S. +economic activity, jumped 1.8% last month, exceeding forecasts +for a 1.3% rise."The headline and core PCE numbers were well above +expectations. What worries us most is that the data since the +last Fed meeting has been extremely strong," said Gene Goldman, +chief investment officer at Cetera Investment Management."If the Fed had this data at the last meeting they probably +would've raised by 50 bps and the tone from the press conference +would've been a lot different."Traders of futures tied to the Fed's policy rate added to +bets of at least three more rate hikes this year, with the peak +rate seen in the range of 5.25%-5.5% by June.Cleveland Fed President Loretta Mester said the Fed should +raise interest rates higher than necessary if need be to get +inflation fully under control.According to preliminary data, the S&P 500 lost 41.90 +points, or 1.04%, to end at 3,970.42 points, while the Nasdaq +Composite lost 195.52 points, or 1.67%, to 11,394.88. +The Dow Jones Industrial Average fell 335.47 points, or +1.01%, to 32,818.44.Most of the major S&P sectors fell, with technology +and consumer discretionary among the biggest +decliners. Communication services fell to a sixth +straight loss, its worst run since a similar six-session skid in +August.Megacap stocks including Tesla Inc, Amazon.com Inc +and Nvidia Corp slid as Treasury yields rose.The yield on two-year Treasury notes, which are +highly sensitive to Fed policy, climbed to 4.826% - its highest +in nearly four months.Boeing Co slid after the Federal Aviation +Administration said the planemaker temporarily halted deliveries +of its 787 Dreamliner jets.Adobe Inc sank on reports the U.S. Justice +Department would block the Photoshop maker's $20 billion bid for +cloud-based designer platform Figma.On the positive side, Beyond Meat Inc surged as the +plant-based meat maker's results indicated that its cost-control +measures were finally bearing fruit.Block Inc gained after offering an upbeat forecast +for a key profit metric and noting it was slowing hiring to +control costs this year. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Additional reporting by Sinead +Carew; Editing by Arun Koyyur, Sriraj Kalluvila and David +Gregorio) \ No newline at end of file diff --git a/news/ADBE/2023.02.24/Wall St ends sharply down, posts biggest weekly drop of 2023.txt b/news/ADBE/2023.02.24/Wall St ends sharply down, posts biggest weekly drop of 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..6e7b84ba42e5f5d79a51c206443c7ae7225f2ba2 --- /dev/null +++ b/news/ADBE/2023.02.24/Wall St ends sharply down, posts biggest weekly drop of 2023.txt @@ -0,0 +1,56 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Dow's worst weekly performance in 5 months*PCE data comes in strong, showing resilient consumer*For the week, all down: Dow 2.99%, S&P 2.66%, Nasdaq 3.33%*Indexes down: Dow 1.02%, S&P 1.05%, Nasdaq 1.69%Feb 24 (Reuters) -Wall Street's main indexes posted their biggest weekly drop +of 2023 after sharp losses on Friday, as investors braced for +the possibility of more aggressive rate hikes from the U.S. +Federal Reserve as U.S. economic data pointed to resilient +consumers.For the blue-chip Dow Jones Industrial Average, the +3% fall was its biggest weekly decline since September. It was +also the Dow's fourth straight weekly decline, its longest +losing streak for nearly 10 months.The S&P 500 and Nasdaq Composite were +also down 2.7% and 3.3%, respectively.After a strong January, stocks have retreated this month as +a slew of economic data amplified worries that the U.S. central +bank might have to keep rates higher for longer.Data on Friday showed the personal consumption expenditures +(PCE) price index, the Fed's preferred inflation gauge, shot up +0.6% last month after gaining just 0.2% in December. Consumer +spending, which accounts for more than two-thirds of U.S. +economic activity, jumped 1.8% last month, exceeding forecasts +for a 1.3% rise.Jason Pride, chief investment officer of private wealth +at Glenmede, said previous market cycles had witnessed similar +delayed reactions by the market to rising interest rates and +data releases, which helps explain volatile trading patterns as +investors slowly adjust."This market has not yet realized the likelihood of a +recession that we think is reality," he said, noting past rate +hikes normally had taken between six and 18 months before their +effects had fully filtered through into the economy."We don't think (a recession is) a given, but there's a +higher likelihood than the market has embedded in its thought +process."Traders of futures tied to the Fed's policy rate added to +bets of at least three more rate hikes this year, with the peak +rate seen in the range of 5.25%-5.5% by June.Cleveland Fed President Loretta Mester said the Fed should +raise interest rates higher than necessary if need be to get +inflation fully under control.The Dow Jones Industrial Average fell 336.99 points, +or 1.02%, to 32,816.92, the S&P 500 lost 42.28 points, or +1.05%, to 3,970.04 and the Nasdaq Composite dropped +195.46 points, or 1.69%, to 11,394.94.Nine of the 11 major S&P sectors fell, with real estate +, technology and consumer discretionary +the biggest decliners. Communication services +fell 1.4% to a sixth straight loss, its worst run +since a similar six-session skid in August.Megacap stocks including Tesla Inc, Amazon.com Inc +and Nvidia Corp slid between 1.6% and 2.6% as +Treasury yields rose.The yield on two-year Treasury notes, which are +highly sensitive to Fed policy, climbed to 4.826% - its highest +in nearly four months.Boeing Co slid 4.8% after the Federal Aviation +Administration said the planemaker temporarily halted deliveries +of its 787 Dreamliner jets.Adobe Inc sank 7.6% on reports the U.S. Justice +Department would block the Photoshop maker's $20 billion bid for +cloud-based designer platform Figma.The decline in Adobe's stock was the largest since Sept. 15, +the day the Figma agreement was announced.Meanwhile, Range Resources Corp jumped 11.9% in +late trading, its biggest gain in nine months, after Bloomberg +News reported that Pioneer Natural Resources was in +talks to buy it. Pioneer's stock fell 4.1% on the report.Volume on U.S. exchanges was 10.31 billion shares, +compared with the 11.53 billion average for the full session +over the last 20 trading days.The S&P 500 posted 2 new 52-week highs and 11 new lows; +the Nasdaq Composite recorded 44 new highs and 162 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Additional reporting by Sinead +Carew; Editing by Arun Koyyur, Sriraj Kalluvila and David +Gregorio) \ No newline at end of file diff --git a/news/ADBE/2023.02.24/Wall St heads for big weekly drop as investors sweat rate hikes.txt b/news/ADBE/2023.02.24/Wall St heads for big weekly drop as investors sweat rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..63f7fd6f61cfda2256c0ee668d27d7014a909277 --- /dev/null +++ b/news/ADBE/2023.02.24/Wall St heads for big weekly drop as investors sweat rate hikes.txt @@ -0,0 +1,51 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*PCE index up 0.6% m-o-m in Jan after 0.2% rise in Dec*Boeing slides on 787 Dreamliner jets temporary halt*Adobe falls as DoJ to block Figma deal - report*Indexes down: Dow 1.12%, S&P 1.28%, Nasdaq 1.94%Feb 24 (Reuters) -Wall Street's main indexes tumbled on Friday, on course for +their biggest weekly drop of 2023, as further strong consumer +data had investors bracing for more aggressive rate hikes from +the Federal Reserve to fight sticky inflation.All three indexes were set for weekly declines of around 3%, +with the blue-chip Dow Jones Industrial Average on track +for its biggest weekly decline in five months.After a strong performance in January, stocks have retreated +this month as a slew of economic data amplified worries that the +U.S. central bank might have to keep rates higher for longer.Data on Friday showed the personal consumption expenditures +(PCE) price index, the Fed's preferred inflation gauge, shot up +0.6% last month after gaining just 0.2% in December. Consumer +spending, which accounts for more than two-thirds of U.S. +economic activity, jumped 1.8% last month, exceeding forecasts +for a 1.3% rise."The headline and core PCE numbers were well above +expectations. What worries us most is that the data since the +last Fed meeting has been extremely strong," said Gene Goldman, +chief investment officer at Cetera Investment Management."If the Fed had this data at the last meeting they probably +would've raised by 50 bps and the tone from the press conference +would've been a lot different."Traders of futures tied to the Fed's policy rate added to +bets of at least three more rate hikes this year, with the peak +rate seen in the range of 5.25%-5.5% by June.Cleveland Fed President Loretta Mester said the Fed should +raise interest rates higher than necessary if need be to get +inflation fully under control.The S&P 500 slipped below its 50-day moving average of 3,980 +points and, at one point, was threatening its 200-day moving +average of 3,940 points. The Nasdaq Composite did slip below its +200-day level of 11,406 points, while the Dow dropped underneath +its 100-day moving average of 32,937 points, having spent this +week below its 50-day mark.At 2.02 p.m. ET, the Dow fell 370.57 points, or +1.12%, to 32,783.34, the S&P 500 lost 51.16 points, or +1.28%, to 3,961.16 and the Nasdaq Composite dropped +224.62 points, or 1.94%, to 11,365.78.All 11 major S&P sectors fell, with technology and +consumer discretionary among the biggest decliners. +Communication services fell 1.6%, on course for a +sixth straight loss, its worst run since a similar six-session +skid in August.Megacap stocks including Tesla Inc, Amazon.com Inc +and Nvidia Corp slid in the range of 1.9% and +3.2% as Treasury yields rose.The yield on two-year Treasury notes, which are +highly sensitive to Fed policy, climbed to 4.826% - its highest +in nearly four months.Boeing Co slid 4.7% after the Federal Aviation +Administration said the planemaker temporarily halted deliveries +of its 787 Dreamliner jets.Adobe Inc sank 7.6% on reports the U.S. Justice +Department would block the Photoshop maker's $20 billion bid for +cloud-based designer platform Figma.On the positive side, Beyond Meat Inc surged 9.2% +as the plant-based meat maker's results indicated that its +cost-control measures were finally bearing fruit.Block Inc gained 4.2% after offering an upbeat +forecast for a key profit metric and noting it was slowing +hiring to control costs this year. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Additional reporting by Sinead +Carew; Editing by Arun Koyyur, Sriraj Kalluvila and David +Gregorio) \ No newline at end of file diff --git a/news/ADBE/2023.02.24/Wall St set for sharp weekly declines as rate worries mount.txt b/news/ADBE/2023.02.24/Wall St set for sharp weekly declines as rate worries mount.txt new file mode 100644 index 0000000000000000000000000000000000000000..a5e8d7718c500fa8d150d19eb759be1a429b5fc1 --- /dev/null +++ b/news/ADBE/2023.02.24/Wall St set for sharp weekly declines as rate worries mount.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*PCE index up 0.6% m-o-m in Jan after 0.2% rise in Dec*Boeing slides on 787 Dreamliner jets temporary halt*Adobe falls as DoJ to block Figma deal - report*Indexes down: Dow 0.91%, S&P 1.04%, Nasdaq 1.56%Feb 24 (Reuters) - Wall Street's main indexes tumbled on +Friday, on course for their worst weekly performance of the +year, as data signaling strong consumer spending and inflation +sparked worries that the Federal Reserve will stick to its +hawkish stance for longer.All the three indexes were set for weekly declines of around +3% each, with the blue-chip Dow on track for its biggest +weekly decline in five months.After a strong performance in January, stocks have retreated +this month as a slew of economic data amplified worries that the +U.S. central bank might have to keep rates higher for longer +amid signs of sticky inflation and a resilient labor market.Data on Friday showed the personal consumption expenditures +(PCE) price index, the Fed's preferred gauge of inflation, shot +up 0.6% last month after gaining 0.2% in December.Another set showed consumer spending, which accounts for +more than two-thirds of U.S. economic activity, jumped 1.8% last +month, higher than the economists' forecast of a 1.3% rise."The headline and core PCE numbers were well above +expectations. What worries us most is that the data since the +last Fed meeting has been extremely strong," said Gene Goldman, +chief investment officer at Cetera Investment Management."If the Fed had this data at the last meeting they probably +would've raised by 50 bps and the tone from the press conference +would've been a lot different."Traders of futures tied to the Fed's policy rate added to +bets that the central bank will raise rates at least three more +times this year, with the peak rate seen in the range of +5.25%-5.5% by June.Cleveland Fed President Loretta Mester said the Fed should +err on raising interest rates higher than necessary if need be +in order to get inflation fully under control.At 11:52 a.m. ET, the Dow Jones Industrial Average +was down 302.42 points, or 0.91%, at 32,851.49, the S&P 500 +was down 41.64 points, or 1.04%, at 3,970.68, and the +Nasdaq Composite was down 181.32 points, or 1.56%, at +11,409.09.All the 11 major S&P sectors fell, with technology +and consumer discretionary indexes leading losses.Megacap stocks including Tesla Inc, Amazon.com Inc +and Nvidia Corp slid in the range of 1.3% and +2.3% as Treasury yields rose.The yield on two-year Treasury notes, which are +highly sensitive to Fed policy, climbed to 4.826% - its highest +in nearly four months.Boeing Co slid 4.3% after the Federal Aviation +Administration said the planemaker temporarily halted deliveries +of its 787 Dreamliner jets.Beyond Meat Inc surged 13.5% as the plant-based +meat maker's results indicated that its cost-control measures +were finally bearing fruit.Adobe Inc sank 7.3% on reports the U.S. Justice +Department would block the Photoshop maker's $20 billion bid for +cloud-based designer platform Figma.Declining issues outnumbered advancers for a 4.28-to-1 ratio +on the NYSE and 3.19-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week highs and seven new +lows, while the Nasdaq recorded 26 new highs and 131 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru, +additional reporting by Sinead Carew; Editing by Arun Koyyur and +Sriraj Kalluvila) \ No newline at end of file diff --git a/news/ADBE/2023.02.28/Adobe : Petco selects Adobe Experience Cloud to fuel growth as a one-stop destination for ...txt b/news/ADBE/2023.02.28/Adobe : Petco selects Adobe Experience Cloud to fuel growth as a one-stop destination for ...txt new file mode 100644 index 0000000000000000000000000000000000000000..62e923cf70562a91ed1aba555aa1e8152336b039 --- /dev/null +++ b/news/ADBE/2023.02.28/Adobe : Petco selects Adobe Experience Cloud to fuel growth as a one-stop destination for ...txt @@ -0,0 +1,76 @@ + + + Petco selects Adobe Experience Cloud to fuel growth as a one-stop destination for pet parents + + + To personalize experiences for millions of customers and drive growth for its comprehensive suite of pet care products and services, Petco has selected Adobe Experience Cloud. Enterprise applications running on Adobe Experience Platform, including Adobe Real-Time Customer Data Platform and Adobe Journey Optimizer, will enable Petco to activate data internally and orchestrate personalized experiences across a mix of online and offline channels. Adobe Experience Cloud also complements Petco's existing investment in Adobe Creative Cloud for enterprise, ensuring that content created for channels including web, mobile, and email are delivered to the most relevant audiences. + + + + In this article + + + + Navigating the journey of pet parenthood + + + Connecting with pet parents in moments that count + + + Driving interest in omnichannel pet care ecosystem through personalization + + + + + Navigating the journey of pet parenthood + + + Petco has set a new bar for pet health and wellness, delivering innovative products and services focused on improving the lives of pets and pet parents. With more than 1,500 pet care center locations and robust digital services, customers have a one-stop shop for everything from pet nutrition and supplies to on-site veterinary, grooming and training services. As Petco expands its role in the pet parenthood journey, it is focused on building long-term relationships with customers, and continuously meeting their needs as they evolve. + + +https://blog.adobe.com/en/promotions/products/experience-cloud/experience-platform + + + Connecting with pet parents in moments that count + + + Adobe Experience Platform empowers Petco to accomplish these goals, bringing data across the organization together with strict governance and security controls. Real-Time CDP enables highly customized, one-to-one interactions, and builds real-time profiles that can be activated across any online or offline channel. + + + By connecting the dots, teams will gain better insights into the solutions customers need now, as well as how those needs change over time. In key moments - from the first year of pet parenthood to annual checkups - Petco will be able to engage customers with the most relevant and useful offerings for specific needs and life stages. + + + Driving interest in omnichannel pet care ecosystem through personalization + + + Petco will leverage Adobe Journey Optimizer as an orchestration layer to deliver relevant content that is timely and impactful. Adobe Journey Optimizer enables teams to build one-to-one individual journeys spanning moves across touchpoints - from the website and mobile app to email and physical points-of-sale. And with Offer Decisioning in Adobe Journey Optimizer, Petco can leverage AI and machine learning capabilities to present next-best-offers at different points in the customer journey. + + + "Petco has made great progress with their customer experience strategy, delivering a comprehensive set of products and services that customers can access on their own terms," said Stephen Frieder, Chief Revenue Officer, Adobe Experience Cloud. "As the company works to accelerate growth and deepen customer relationships, only Adobe can provide an integrated set of Adobe Experience Cloud applications that personalizes experiences at scale and in real time." + + + +https://blog.adobe.com/en/publish/2022/10/24/adobe-to-help-us-bank-accelerate-personalization-in-consumer-banking + + +https://blog.adobe.com/en/publish/2022/03/15/panera-bread-drives-highly-personalized-guest-experiences-with-adobe-real-time-customer-data-platformhttps://blog.adobe.com/en/publish/2023/02/23/qualcomm-selects-adobe-deepen-customer-relationships-real-time-personalization + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Adobe Inc. published this content on 28 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2023 14:04:28 UTC. + + diff --git a/news/ADBE/2023.02.28/Adobe to Host Q&A meeting at Adobe Summit.txt b/news/ADBE/2023.02.28/Adobe to Host Q&A meeting at Adobe Summit.txt new file mode 100644 index 0000000000000000000000000000000000000000..c488db7890580fd8349ea18863d371d7abfc1be2 --- /dev/null +++ b/news/ADBE/2023.02.28/Adobe to Host Q&A meeting at Adobe Summit.txt @@ -0,0 +1,27 @@ + +Adobe (Nasdaq:ADBE) will host a Q&A meeting with financial analysts and investors on Tuesday, March 21, 2023 at Adobe Summit in Las Vegas, NV. Audio of the event will be broadcast live via webcast and a replay will be made available at http://www.adobe.com/ADBE. + +What: + +Adobe Financial Analyst Q&A + +When: + +11:30 a.m. Pacific Time, Tuesday, March 21, 2023 + +Where: + +Live at Adobe Summit and via audio webcast on http://www.adobe.com/ADBE + +How: + +Simply connect to the meeting room on the webpage above + +Adobe uses its website as a channel of distribution of material company information. Financial, product and other material information regarding Adobe is routinely posted on and accessible at www.adobe.com or www.adobe.com/ADBE. + +About Adobe + +Adobe is changing the world through digital experiences. For more information, visit www.adobe.com. + +© 2023 Adobe. All rights reserved. Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe in the United States and/or other countries. All other trademarks are the property of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005370/en/ \ No newline at end of file diff --git a/news/ADBE/2023.03.01/Adobe : Petco selects Adobe Experience Cloud to fuel growth as a one-stop destination for ...txt b/news/ADBE/2023.03.01/Adobe : Petco selects Adobe Experience Cloud to fuel growth as a one-stop destination for ...txt new file mode 100644 index 0000000000000000000000000000000000000000..62e923cf70562a91ed1aba555aa1e8152336b039 --- /dev/null +++ b/news/ADBE/2023.03.01/Adobe : Petco selects Adobe Experience Cloud to fuel growth as a one-stop destination for ...txt @@ -0,0 +1,76 @@ + + + Petco selects Adobe Experience Cloud to fuel growth as a one-stop destination for pet parents + + + To personalize experiences for millions of customers and drive growth for its comprehensive suite of pet care products and services, Petco has selected Adobe Experience Cloud. Enterprise applications running on Adobe Experience Platform, including Adobe Real-Time Customer Data Platform and Adobe Journey Optimizer, will enable Petco to activate data internally and orchestrate personalized experiences across a mix of online and offline channels. Adobe Experience Cloud also complements Petco's existing investment in Adobe Creative Cloud for enterprise, ensuring that content created for channels including web, mobile, and email are delivered to the most relevant audiences. + + + + In this article + + + + Navigating the journey of pet parenthood + + + Connecting with pet parents in moments that count + + + Driving interest in omnichannel pet care ecosystem through personalization + + + + + Navigating the journey of pet parenthood + + + Petco has set a new bar for pet health and wellness, delivering innovative products and services focused on improving the lives of pets and pet parents. With more than 1,500 pet care center locations and robust digital services, customers have a one-stop shop for everything from pet nutrition and supplies to on-site veterinary, grooming and training services. As Petco expands its role in the pet parenthood journey, it is focused on building long-term relationships with customers, and continuously meeting their needs as they evolve. + + +https://blog.adobe.com/en/promotions/products/experience-cloud/experience-platform + + + Connecting with pet parents in moments that count + + + Adobe Experience Platform empowers Petco to accomplish these goals, bringing data across the organization together with strict governance and security controls. Real-Time CDP enables highly customized, one-to-one interactions, and builds real-time profiles that can be activated across any online or offline channel. + + + By connecting the dots, teams will gain better insights into the solutions customers need now, as well as how those needs change over time. In key moments - from the first year of pet parenthood to annual checkups - Petco will be able to engage customers with the most relevant and useful offerings for specific needs and life stages. + + + Driving interest in omnichannel pet care ecosystem through personalization + + + Petco will leverage Adobe Journey Optimizer as an orchestration layer to deliver relevant content that is timely and impactful. Adobe Journey Optimizer enables teams to build one-to-one individual journeys spanning moves across touchpoints - from the website and mobile app to email and physical points-of-sale. And with Offer Decisioning in Adobe Journey Optimizer, Petco can leverage AI and machine learning capabilities to present next-best-offers at different points in the customer journey. + + + "Petco has made great progress with their customer experience strategy, delivering a comprehensive set of products and services that customers can access on their own terms," said Stephen Frieder, Chief Revenue Officer, Adobe Experience Cloud. "As the company works to accelerate growth and deepen customer relationships, only Adobe can provide an integrated set of Adobe Experience Cloud applications that personalizes experiences at scale and in real time." + + + +https://blog.adobe.com/en/publish/2022/10/24/adobe-to-help-us-bank-accelerate-personalization-in-consumer-banking + + +https://blog.adobe.com/en/publish/2022/03/15/panera-bread-drives-highly-personalized-guest-experiences-with-adobe-real-time-customer-data-platformhttps://blog.adobe.com/en/publish/2023/02/23/qualcomm-selects-adobe-deepen-customer-relationships-real-time-personalization + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Adobe Inc. published this content on 28 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2023 14:04:28 UTC. + + diff --git a/news/ADBE/2023.03.02/Cybersecurity firm OneSpan explores sale -sources.txt b/news/ADBE/2023.03.02/Cybersecurity firm OneSpan explores sale -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..084f35550c1c3c6379487dc7015275eec7c536a0 --- /dev/null +++ b/news/ADBE/2023.03.02/Cybersecurity firm OneSpan explores sale -sources.txt @@ -0,0 +1,20 @@ +NEW YORK, March 2 (Reuters) - OneSpan Inc, a U.S. +cybersecurity tools vendor that has become the target of +activist hedge funds such as Legion Partners Asset Management, +is exploring options that include a sale of the company, people +familiar with the matter said.OneSpan is working with investment bank Evercore Inc +on a sale process that could attract interest from other +companies and private equity firms, the sources said, requesting +anonymity because the discussions are confidential.OneSpan shares rose over 11% on the news in afternoon trade +to $18.43 a share.OneSpan, which has a market value of close to $700 million, +and Evercore declined to comment.Based in Chicago, OneSpan develops identity management +software solutions that help secure electronic transactions. The +company's offerings include its e-signature signature product +OneSpan Sign, which competes with products offered by Adobe Inc +and DocuSign Inc.In 2021, Legion, which has been a OneSpan shareholder since +2018, launched a board challenge to pressure the company to +implement operational changes and explore asset divestitures. +OneSpan then cut a deal with Legion that added two of the hedge +fund's director nominees to its board.Other activist hedge funds including Ancora Advisors and +Altai Capital have also taken positions OneSpan's stock. +(Reporting by Milana Vinn in New York) \ No newline at end of file diff --git a/news/ADI/2023.01.03/Analog Devices to Participate in the J.P. Morgan Tech|Auto Forum.txt b/news/ADI/2023.01.03/Analog Devices to Participate in the J.P. Morgan Tech|Auto Forum.txt new file mode 100644 index 0000000000000000000000000000000000000000..2b712d6188dfb200b0ee74dc4a365b0a5c30eaa1 --- /dev/null +++ b/news/ADI/2023.01.03/Analog Devices to Participate in the J.P. Morgan Tech|Auto Forum.txt @@ -0,0 +1,11 @@ + +Analog Devices, Inc. (Nasdaq: ADI) today announced that the Company’s Executive Vice President, Finance and Chief Financial Officer, Prashanth Mahendra-Rajah, will speak at the J.P. Morgan 21st Annual Tech/Auto Forum Conference in Las Vegas, Nevada on Thursday, January 5, 2023, at 10:30 a.m. Pacific Time. + +The webcast for the conference may be accessed live via the Investor Relations section of Analog Devices’ website at investor.analog.com. An archived replay will also be available following the webcast. + +About Analog Devices, Inc. + +Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With reported revenues of more than $12 billion in FY22 and approximately 24,000 people globally working alongside 125,000 global customers, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and Twitter. + +(ADI-WEB) +View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005577/en/ \ No newline at end of file diff --git a/news/ADI/2023.01.04/Seeing Machines announces three collaborations for driving solutions.txt b/news/ADI/2023.01.04/Seeing Machines announces three collaborations for driving solutions.txt new file mode 100644 index 0000000000000000000000000000000000000000..976605f7f976556c68f68fa341fea6564daf1137 --- /dev/null +++ b/news/ADI/2023.01.04/Seeing Machines announces three collaborations for driving solutions.txt @@ -0,0 +1 @@ +(Alliance News) - Seeing Machines Ltd on Wednesday announced three collaborations for driving solutions ranging from vision-based sensing for low-light driving conditions to infrared driver and high-speed camera connectivity to help monitor driver fatigue and distraction.Regarding monitoring driver fatigue and distraction, the Canberra-based vision-based monitoring technology company partners with Analog Devices Inc.For a driver safety solution, Seeing Machines teams up with semiconductor design company Ambarella Inc and Tel-Aviv based mobility solutions provider for vehicles Autobrains Technologies.For a vision-based sensing solution, Seeing Machines works together with Indie Semiconductor.The interior sensing solutions will be showcased at the CES 2023 industry event in Las Vegas this week, Seeing Machines said. Chief Executive Paul McGlone said: "The strategic partnerships we have agreed with other leading technology firms, coinciding with CES 2023, are testament to the best-in-class driver monitoring solutions that we have developed over 20 years. These solutions are increasingly being adopted by global automakers that need to meet new safety-standard requirements for all their car models in the near future."Seeing Machines shares were up 0.3% at 6.62 pence each on Wednesday morning in London. By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/ADI/2023.01.19/Analog Devices CEO Vincent Roche Joins World Economic Forum's Alliance of CEO Climate L...txt b/news/ADI/2023.01.19/Analog Devices CEO Vincent Roche Joins World Economic Forum's Alliance of CEO Climate L...txt new file mode 100644 index 0000000000000000000000000000000000000000..1357e2d3808a0426696ad65a5e515eb311e5ef6c --- /dev/null +++ b/news/ADI/2023.01.19/Analog Devices CEO Vincent Roche Joins World Economic Forum's Alliance of CEO Climate L...txt @@ -0,0 +1 @@ +WILMINGTON, Mass. - Analog Devices, Inc. (Nasdaq: ADI) announced that its Chief Executive Officer and Chair of the Board of Directors, Vincent Roche, has become a member of the World Economic Forum's Alliance of CEO Climate Leaders. Analog Devices is the first semiconductor company to join the Alliance, a global community of more than 120 CEOs and Senior Executives from large multinational organizations committed to accelerating the pace of climate change action across their value chains.'Analog Devices' core purpose is to work with our customers to create the technological breakthroughs that enrich lives and the world around us,' said Mr. Roche. 'From electrification to energy management to industrial efficiency, a focus on combatting climate change is woven throughout our business and operations. Joining the Alliance is a natural reflection of our ambition and actions to advance sustainable solutions globally to enable and accelerate the net zero transition. We look forward to working with and alongside Alliance members across our industries.'Founded in 2014 as a World Economic Forum initiative, the Alliance and its members seek to involve policy makers in their shared commitment to reducing emissions by more than 1 gigaton annually by 2030 and reaching net zero by 2050. The Alliance publishes white papers and reports to guide leaders on carbon removal, as well as facilitates cross-industry collaboration and knowledge sharing.'We are delighted to have Vince join us as a member of the Alliance of CEO Climate Leaders,' said Pim Valdre, World Economic Forum's Head of Climate Ambition Initiatives. 'Analog Devices' commitment to achieve net zero by 2050 or sooner is just one example of its ESG excellence that can inspire others in the semiconductor industry to follow. We look forward to adding the experience and vision offered by Vince and the Analog Devices team.'About Analog DevicesAnalog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With reported revenues of more than $12 billion in FY22 and approximately 25,000 people globally working alongside 125,000 global customers, ADI ensures today's innovators stay Ahead of What's Possible. Learn more at www.analog.com and on LinkedIn and Twitter.Contact:Ferda MillanAnalog Devices, Inc.E: Ferda.Millan@analog.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/ADI/2023.01.24/Texas Instruments forecasts first-quarter revenue below expectations.txt b/news/ADI/2023.01.24/Texas Instruments forecasts first-quarter revenue below expectations.txt new file mode 100644 index 0000000000000000000000000000000000000000..9da71c1435ea7d3e061f635aad8bccebccd78649 --- /dev/null +++ b/news/ADI/2023.01.24/Texas Instruments forecasts first-quarter revenue below expectations.txt @@ -0,0 +1 @@ +The company expects revenue of $4.17 billion to $4.53 billion, the mid-point of which is lower than analysts' average estimate of $4.41 billion, according to Refinitiv data. (Reporting by Chavi Mehta in Bengaluru; Editing by Devika Syamnath) \ No newline at end of file diff --git a/news/ADI/2023.01.25/Analog Devices, Inc. to Report First Quarter Fiscal Year 2023 Financial Results on Wedn...txt b/news/ADI/2023.01.25/Analog Devices, Inc. to Report First Quarter Fiscal Year 2023 Financial Results on Wedn...txt new file mode 100644 index 0000000000000000000000000000000000000000..83f0789d6bc62b148503250e619349fec48aba82 --- /dev/null +++ b/news/ADI/2023.01.25/Analog Devices, Inc. to Report First Quarter Fiscal Year 2023 Financial Results on Wedn...txt @@ -0,0 +1,15 @@ + +Analog Devices, Inc. (Nasdaq: ADI) today announced it will release financial results for the first quarter fiscal year 2023 at 7:00 a.m. Eastern time on Wednesday, February 15, 2023. Following the press release, the Company will host a conference call at 10:00 a.m. Eastern time, the same day. Vincent Roche, Chief Executive Officer and Chair, Prashanth Mahendra-Rajah, Executive Vice President, Finance and Chief Financial Officer, and Michael Lucarelli, Vice President of Investor Relations and FP&A will discuss ADI’s results and business outlook. + +The conference call can be listened to live on the internet on Analog Devices’ Investor Relations website at investor.analog.com. + +To participate in the live conference call, please pre-register at: https://register.vevent.com/register/BI422285c67df24a4ea18bf47dbf638bbe. Upon registering, you will be emailed a dial-in number, and unique PIN. + +Both the press release and archived webcast will be available following the call at investor.analog.com. + +About Analog Devices + +Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With reported revenues of more than $12 billion in FY22 and approximately 25,000 people globally working alongside 125,000 global customers, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and Twitter. + +(ADI-WEB) +View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005242/en/ \ No newline at end of file diff --git a/news/ADI/2023.02.10/Analog Devices : ADI Q1 2023 Web Schedule.txt b/news/ADI/2023.02.10/Analog Devices : ADI Q1 2023 Web Schedule.txt new file mode 100644 index 0000000000000000000000000000000000000000..13dc9cf2e2851de4980cf34c039fecae2d5787a9 --- /dev/null +++ b/news/ADI/2023.02.10/Analog Devices : ADI Q1 2023 Web Schedule.txt @@ -0,0 +1,1402 @@ + + + + Analog Devices, Inc. Combined Revenue Trends by End Market (in millions)1 + + + + + + + + 1Q20 + + + + + 2Q20 + + + + + 3Q20 + + + + + 4Q20 + + + + + 1Q21 + + + + + 2Q21 + + + + + 3Q21 + + + + + 4Q21 + + + + + 1Q22 + + + + + 2Q22 + + + + + 3Q22 + + + + + 4Q22 + + + + + 1Q23 + + + + + + + Analog Devices + + + + + $1,304 + + + + + $1,317 + + + + + $1,456 + + + + + $1,526 + + + + + $1,558 + + + + + $1,661 + + + + + $1,759 + + + + + $1,781 + + + + + + + + + + + + + + + + + Maxim Integrated + + + + + $537 + + + + + $526 + + + + + $608 + + + + + $624 + + + + + $620 + + + + + $660 + + + + + $748 + + + + + $754 + + + + + + + + + + + + + + + + + Total + + + + + $1,841 + + + + + $1,843 + + + + + $2,064 + + + + + $2,150 + + + + + $2,178 + + + + + $2,321 + + + + + $2,507 + + + + + $2,535 + + + + + $2,684 + + + + + $2,972 + + + + + $3,110 + + + + + $3,248 + + + + + $3,250 + + + + + + + End Markets + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Industrial + + + + + $840 + + + + + $876 + + + + + $979 + + + + + $996 + + + + + $1,045 + + + + + $1,187 + + + + + $1,245 + + + + + $1,247 + + + + + $1,340 + + + + + $1,498 + + + + + $1,550 + + + + + $1,654 + + + + + $1,690 + + + + + + + Auto + + + + + $353 + + + + + $310 + + + + + $301 + + + + + $403 + + + + + $438 + + + + + $462 + + + + + $5162 + + + + + $507 + + + + + $558 + + + + + $639 + + + + + $664 + + + + + $678 + + + + + $718 + + + + + + + Comms + + + + + $352 + + + + + $388 + + + + + $489 + + + + + $407 + + + + + $358 + + + + + $364 + + + + + $390 + + + + + $378 + + + + + $413 + + + + + $475 + + + + + $492 + + + + + $503 + + + + + $488 + + + + + + + Consumer + + + + + $297 + + + + + $269 + + + + + $294 + + + + + $343 + + + + + $337 + + + + + $308 + + + + + $356 + + + + + $402 + + + + + $374 + + + + + $361 + + + + + $404 + + + + + $412 + + + + + $353 + + + + + + + QoQ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Industrial + + + + + ‐7% + + + + + 4% + + + + + 12% + + + + + 2% + + + + + 5% + + + + + 14% + + + + + 5% + + + + + 0% + + + + + 7% + + + + + 12% + + + + + 3% + + + + + 7% + + + + + 2% + + + + + + + Auto + + + + + ‐5% + + + + + ‐12% + + + + + ‐3% + + + + + 34% + + + + + 9% + + + + + 6% + + + + + 12% + + + + + ‐2% + + + + + 10% + + + + + 15% + + + + + 4% + + + + + 2% + + + + + 6% + + + + + + + Comms + + + + + 1% + + + + + 10% + + + + + 26% + + + + + ‐17% + + + + + ‐12% + + + + + 2% + + + + + 7% + + + + + ‐3% + + + + + 9% + + + + + 15% + + + + + 4% + + + + + 2% + + + + + ‐3% + + + + + + + Consumer + + + + + ‐22% + + + + + ‐9% + + + + + 9% + + + + + 17% + + + + + ‐2% + + + + + ‐9% + + + + + 16% + + + + + 13% + + + + + ‐7% + + + + + ‐3% + + + + + 12% + + + + + 2% + + + + + ‐14% + + + + + + + Total + + + + + ‐8% + + + + + 0% + + + + + 12% + + + + + 4% + + + + + 1% + + + + + 7% + + + + + 8% + + + + + 1% + + + + + 6% + + + + + 11% + + + + + 5% + + + + + 4% + + + + + 0% + + + + + + + YoY + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Industrial + + + + + ‐6% + + + + + ‐7% + + + + + 8% + + + + + 10% + + + + + 24% + + + + + 36% + + + + + 27% + + + + + 25% + + + + + 28% + + + + + 26% + + + + + 24% + + + + + 33% + + + + + 26% + + + + + + + Auto + + + + + ‐8% + + + + + ‐19% + + + + + ‐20% + + + + + 8% + + + + + 24% + + + + + 49% + + + + + 71% + + + + + 26% + + + + + 27% + + + + + 38% + + + + + 29% + + + + + 34% + + + + + 29% + + + + + + + Comms + + + + + ‐19% + + + + + ‐13% + + + + + 21% + + + + + 17% + + + + + 2% + + + + + ‐6% + + + + + ‐20% + + + + + ‐7% + + + + + 15% + + + + + 30% + + + + + 26% + + + + + 33% + + + + + 18% + + + + + + + Consumer + + + + + ‐22% + + + + + ‐14% + + + + + ‐12% + + + + + ‐9% + + + + + 14% + + + + + 14% + + + + + 21% + + + + + 17% + + + + + 11% + + + + + 17% + + + + + 13% + + + + + 2% + + + + + ‐5% + + + + + + + Total + + + + + ‐12% + + + + + ‐11% + + + + + 2% + + + + + 7% + + + + + 18% + + + + + 26% + + + + + 21% + + + + + 18% + + + + + 23% + + + + + 28% + + + + + 24% + + + + + 28% + + + + + 21% + + + + + + Notes: + + + The categorization of revenue by end market is determined using a variety of data points including the technical characteristics of the product, the "sold to" customer information, the "ship to" customer information and the end customer product or application into which our product will be incorporated. As data systems for capturing and tracking this data and the Company's methodology evolve and improve, the categorization of products by end market can vary over time. When this occurs, we reclassify revenue by end market for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying revenue trends within each end market. The sum and/or computation of the individual amounts may not equal the total due to rounding. + + + +These revenue trends are unaudited. For Maxim Integrated Products, the above information represents revenues that would have been reported on a stand‐alone basis aligned to the fiscal quarters of Analog Devices. Revenue prior to August 26, 2021 (the date of acquisition) from Maxim is included for informational and trend comparisons, but has not been included in ADI's income statement. + + +Includes $24.1 million of revenue immediately recognized in the third quarter of fiscal 2021 from an intellectual property licensing agreement. + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Analog Devices Inc. published this content on 10 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 09:08:04 UTC. + + diff --git a/news/ADI/2023.02.14/Analog Devices Raises Quarterly Dividend By 13%.txt b/news/ADI/2023.02.14/Analog Devices Raises Quarterly Dividend By 13%.txt new file mode 100644 index 0000000000000000000000000000000000000000..9957a30e33264002fa2b54bf46ad3e573445fb3a --- /dev/null +++ b/news/ADI/2023.02.14/Analog Devices Raises Quarterly Dividend By 13%.txt @@ -0,0 +1,17 @@ + +Analog Devices, Inc. (NASDAQ: ADI), a global semiconductor leader, today announced that its Board of Directors has voted to increase its quarterly dividend from $0.76 per outstanding share of common stock to $0.86, which represents an increase of 13% and is the equivalent of $3.44 annually. + +“Our highly profitable business model has proven resilient throughout dynamic macro environments, generating positive free cash flow for 26 consecutive years,” said Vincent Roche, CEO and Chair. “We target returning 100% of free cash flow to shareholders through both dividend payments and share repurchases, and we have returned more than $12 billion to shareholders in the last five years. Over the long-term, we are committed to reinvesting in our business, while delivering significant value to shareholders.” + +The increase is effective with the dividend payable on March 8, 2023, to shareholders of record as of the close of business on February 27, 2023. This marks the Company's 20th increase in the last 19 years. ADI has paid a dividend for 76 consecutive quarters, totaling more than $9 billion of cash returned to shareholders through dividends. + +About Analog Devices + +Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With revenue of more than $12 billion in FY22 and approximately 25,000 people globally working alongside 125,000 global customers, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and Twitter. + +Forward Looking Statements + +This press release contains forward-looking statements regarding, among other things, the timing and amount of cash dividends and share repurchases, return of free cash flow, reinvesting in our business, delivering value to shareholders and our financial position in the future. Statements that are not historical facts, including statements about our beliefs, plans and expectations, are forward-looking statements. Such statements are based on our current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: political and economic uncertainty, including any faltering in global economic conditions or the stability of credit and financial markets; erosion of consumer confidence and declines in customer spending or cancellations of orders for our products; unavailability of raw materials, services, supplies or manufacturing capacity; disruptions to our manufacturing operations or our ability to execute our business strategy; changes in geographic, product or customer mix; changes in export classifications, import and export regulations or duties and tariffs; changes in our estimates of our expected tax rates based on current tax law; adverse results in litigation matters, including the potential for litigation related to the Maxim acquisition; the risk that we will be unable to retain and hire key personnel including as a result of labor shortages; changes in demand for semiconductors; the uncertainly as to the extent of the duration, scope, and impacts of the COVID-19 pandemic; attempted or actual security breaches and other cybersecurity incidents that disrupt our operations; unanticipated difficulties or expenditures relating to integrating Maxim; uncertainty as to the long-term value of our common stock; the discretion of our Board of Directors to declare dividends and our ability to pay dividends in the future; factors impacting our ability to repurchase shares; the diversion of management time on integrating Maxim's business and operations; our ability to successfully integrate acquired businesses and technologies, including Maxim; and the risk that expected benefits, synergies and growth prospects of acquisitions, including our acquisition of Maxim, may not be fully achieved in a timely manner, or at all. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission (“SEC”), including the risk factors contained in our most recent Annual Report on Form 10-K. Forward-looking statements represent management’s current expectations and are inherently uncertain. Except as required by law, we do not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances. + +(ADI-WEB) +View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005853/en/ \ No newline at end of file diff --git a/news/ADI/2023.02.15/Airbnb, Analog Devices rise; Taiwan Semi, Lithia Motors fall.txt b/news/ADI/2023.02.15/Airbnb, Analog Devices rise; Taiwan Semi, Lithia Motors fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..55d9d17c95f7deb20b8d5c20ed512f60376d1c58 --- /dev/null +++ b/news/ADI/2023.02.15/Airbnb, Analog Devices rise; Taiwan Semi, Lithia Motors fall.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday:Airbnb Inc., up $16.14 to $137.01.The online rental company posted stronger profit and revenue than analysts expected.Bausch + Lomb Corp.. up $1.33 to $18.31.Brent Saunders will return as CEO of the eye care company.Taiwan Semiconductor Manufacturing Co., down $5.20 to $92.76.Warren Buffett's Berkshire Hathaway slashed its stake in the company.Lithia Motors Inc., down $23.17 to $258.13.The auto dealership reported results that fell short of what Wall Street analysts were looking for.Analog Devices Inc., up $13.64 to $196.18.The semiconductor company reported earnings and revenue that easily beat analysts' forecasts.Devon Energy Corp., down $6.71 to $57.23.The oil and natural gas company reported earnings that fell well short of what Wall Street was looking for.Trade Desk Inc., up $16.38 to $66.30.The tech platform for advertising buyers reported results that beat analysts' forecasts.Generac Holdings Inc., up $10.02 to $135.23.The Wisconsin-based maker of power generators reported higher earnings than analysts were expecting.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/ADI/2023.02.15/Analog Devices : Fiscal Q1 Earnings Snapshot.txt b/news/ADI/2023.02.15/Analog Devices : Fiscal Q1 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..0c4c16becbc07b6ee9f0c8abcf4c254c7b957a22 --- /dev/null +++ b/news/ADI/2023.02.15/Analog Devices : Fiscal Q1 Earnings Snapshot.txt @@ -0,0 +1 @@ +WILMINGTON, Mass. (AP) — WILMINGTON, Mass. (AP) — Analog Devices Inc. (ADI) on Wednesday reported fiscal first-quarter profit of $961.5 million.The Wilmington, Massachusetts-based company said it had profit of $1.88 per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $2.75 per share.The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.59 per share.The semiconductor maker posted revenue of $3.25 billion in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $3.14 billion.For the current quarter ending in April, Analog Devices expects its per-share earnings to range from $2.65 to $2.85. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.50.The company said it expects revenue in the range of $3.1 billion to $3.3 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $3.11 billion.Analog Devices shares have increased 11% since the beginning of the year, while the S&P's 500 index has climbed almost 8%. The stock has risen 19% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADI at https://www.zacks.com/ap/ADIFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/ADI/2023.02.15/Analog Devices : Q1 2023 Transcript.txt b/news/ADI/2023.02.15/Analog Devices : Q1 2023 Transcript.txt new file mode 100644 index 0000000000000000000000000000000000000000..f2b88a781a96d41dd81df06e7f7650a4087d4c31 --- /dev/null +++ b/news/ADI/2023.02.15/Analog Devices : Q1 2023 Transcript.txt @@ -0,0 +1,289 @@ + + + + + REFINITIV STREETEVENTS + + + EDITED TRANSCRIPT + + + ADI.OQ - Q1 2023 Analog Devices Inc Earnings Call + + + EVENT DATE/TIME: FEBRUARY 15, 2023 / 3:00PM GMT + + + OVERVIEW: + + + ADI reported revenue of $3.25b and adjusted EPS of $2.75. Co. expects 2Q23 revenue to be $3.2b, plus or minus $100m and adjusted EPS to be $2.75, plus or minus $0.10. + + + REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us + + + + + ©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. + + + + + + + FEBRUARY 15, 2023 / 3:00PM, ADI.OQ - Q1 2023 Analog Devices Inc Earnings Call + + + C O R P O R A T E P A R T I C I P A N T S + + +Michael C. Lucarelli Analog Devices, Inc. - VP, IR and FP&A + + +Prashanth Mahendra-Rajah Analog Devices, Inc. - Executive VP of Finance & CFO + + +Vincent T. Roche Analog Devices, Inc. - CEO & Chair of the Board of Directors + + + C O N F E R E N C E C A L L P A R T I C I P A N T S + + +Ambrish Srivastava BMO Capital Markets Equity Research - MD & Senior Semiconductors Research Analyst + + +Christopher Brett Danely Citigroup Inc., Research Division - MD & Analyst + + +ChristopherJamesMuseEvercoreISIInstitutionalEquities,ResearchDivision-SeniorMD,HeadofGlobalSemiconductorResearch&SeniorEquityResearchAnalystHarlan Sur JPMorgan Chase & Co, Research Division - Senior Analyst + + +Stacy Aaron Rasgon Sanford C. Bernstein & Co., LLC., Research Division - Senior Analyst + + +Tore Egil Svanberg Stifel, Nicolaus & Company, Incorporated, Research Division - MD + + +Vivek Arya BofA Securities, Research Division - MD in Equity Research & Research Analyst + + + P R E S E N T A T I O N + + + Operator + + + Good morning, and welcome to the Analog Devices First Quarter Fiscal Year 2023 Earnings Conference Call, which is being audio webcast via telephone and over the web. I'd like to now introduce your host for today's call, Mr. Michael Lucarelli, Vice President of Investor Relations and FP&A. Sir, the floor is yours. + + +Michael C. Lucarelli - Analog Devices, Inc. - VP, IR and FP&A + + + Thank you, Gigi, and good morning, everybody. Thanks for joining our first quarter fiscal '23 conference call. With me on the call today are ADI's CEO and Chair, Vincent Roche; ADI's CFO, Prashanth Mahendra-Rajah. Anyone who missed the release, you can find it and relating financial schedules at investor.analog.com. On to the disclosures. Information we're about to discuss includes forward-looking statements, which are subject to certain risks and uncertainties, as further described in our earnings release and our periodic reports and other materials filed with the SEC. + + + Actual results could differ materially from the forward-looking information and these statements reflect our expectations only as the date of this call. We undertake no obligation to update these statements, except as required by law. Our comments today will also include non-GAAP financial measures, which exclude special items. When comparing our results to our historical performance, special items are also excluded from prior periods. Reconciliation of these non-GAAP measures to the most directly comparable GAAP measures and additional information about our non-GAAP measures are included in today's release. + + + And with that, I'll turn it over to ADI's CEO and Chair, Vincent Roche. Vince? + + +Vincent T. Roche - Analog Devices, Inc. - CEO & Chair of the Board of Directors + + + Thanks very much, Mike, and good morning to everyone. Well, I'm very pleased to share that ADI continued to execute exceptionally well in the first quarter of fiscal '23 despite continued macroeconomic uncertainty. Revenue was $3.25 billion, up 21% year-over-year. Strength was broad-based with all B2B markets up single digits. Gross and operating margins were 74% and 51% respectively, and adjusted EPS achieved another record at $2.75. Our continued success is driven by a relentless focus on customer collaboration, a growing demand for our innovative technologies and strong operational execution. We play a long game and are excited about what the future holds for us. To ensure that we capture the opportunity + + + 2 + + + REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us + + + + + ©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. + + + + + + + FEBRUARY 15, 2023 / 3:00PM, ADI.OQ - Q1 2023 Analog Devices Inc Earnings Call + + + ahead, we've been steadily increasing investments in R&D, manufacturing capabilities and in partnerships that deepen our value to our customers now and over the long term. For example, in R&D, we've invested $1.7 billion over the trailing 12 months to strengthen our core franchises and capture market opportunities presented by secular growth drivers. + + + Over this same period, we've invested $750 million in CapEx to enhance the resiliency of our internal semiconductor manufacturing operations. These investments not only increase our operational resiliency, but also modernize our fabs to better address our sustainability ambitions. + + + As mentioned in our press release, our industrial and automotive businesses remain strong as we gain market share. So this morning, I want to focus specifically on our industrial business, which continues to grow significantly despite the macroeconomic backdrop. Now from a big picture perspective, the industrial market is the bedrock of ADI, representing more than half of our total revenue. It's also our most diverse and profitable business segment with tens of thousands of customers and products that sustain revenue streams for decades. Additionally, ADI's industrial revenue is derived from high-performance technology in mission-criticalCapEx-intensive equipment across the myriad applications. + + + Our leadership position has been strengthened over the last decade as we intensified our focus in this market and invested over $5 billion in R&D activities to capture the opportunity across the hundreds of applications that characterize the industrial sector. This space is inherently fragmented and the unmatched breadth and depth of ADI's portfolio uniquely allows us to address our customers' needs across the full spectrum of applications with core component building blocks to application-specific solutions that encompass analog, digital and algorithms. + + + Today, we're seeing the rise of new industrial applications that require more sophisticated and more complex architectures as machines become more intelligent and more sustainable. This is driving more semiconductor content per dollar of CapEx, unlocking new opportunities for our portfolio. While this transformation is benefiting all of our industrial applications, including healthcare and aerospace, let me share how we're winning in industrial automation and instrumentation more specifically, and discuss the burgeoning opportunity across the electrification ecosystem. + + + So starting first with Industrial Automation. Here, our customers are upgrading their factories with more automation and connectivity to increase output with greater energy efficiency. ADI's broad portfolio helps customers create these more resilient and flexible footprints while lowering their carbon emissions on the journey to net zero. As an example, at a leading U.S. robotics manufacturer, we've won additional content across power, sensing and GMSL connectivity. Our systems approach reduced our customers' design time and increased our content per cobot by 4x. + + + Also in the last quarter, our IO-Link solution was designed in at multiple leading industrial automation customers. These solutions are critical for delivering robust connectivity to the edge of the factory floor. + + + Turning our attention now to our instrumentation and test business. This subsector is highly aligned to secular growth trends from connectivity to AI-assisted compute to electrification, to drug discovery and gene therapies. The consistent thread across this diverse set of applications is the growing complexity that requires more advanced metrology and test. The results, our average content per system is now 2 to 3x higher. Further, the localization of semiconductor supply is providing additional tailwinds for our test business. We've secured multiple design wins in North America as well as Asia for memory and high-performance compute. + + + And finally, on to one of our fastest-growing areas, the electrification ecosystem. The collective need for a more sustainable future is driving massive growth in electrical grid infrastructure. + + + Now let me share 2 examples with you. First, industrial and automotive companies have announced more than $300 billion of investments in greenfield gigafactories, essential to the production of batteries to proliferate the electrification ecosystem. These Gigafactories will drive additional demand for our formation and test solutions critical to producing higher density batteries. Further, given the inherent safety hazards of using higher cell voltages, these factories will also provide new growth vectors for ADI. In our sustainable energy franchise, we're leveraging our industry-leading automotive BMS solutions into energy storage systems for electrical grids and fast-charging infrastructure. We've won designs at leading EV infrastructure manufacturers in North America, Europe and Asia, putting us on a path to more than tripling this business in the coming years. + + + 3 + + + REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us + + + + + ©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. + + + + + + + FEBRUARY 15, 2023 / 3:00PM, ADI.OQ - Q1 2023 Analog Devices Inc Earnings Call + + + Of course, while no market is fully immune to adverse economic cycles, our industrial business is highly diversified and aligned with secular trends. This has translated to more durable revenue streams with sales in this sector increasing more than 25% over the trailing 12 months despite a weakening economic backdrop. But looking ahead, we see continued strength in this franchise as the breadth and depth of our portfolio, our deep customer collaborations and design win pipeline momentum underpin our new phase of profitable growth. + + + So in closing, ADI's business model is diverse, resilient and rich with opportunity. I'm very optimistic about what our future holds as we drive enhanced value for our customers, employees and shareholders, as well as society at large. And so with that, I'll hand you over to Prashanth. + + +Prashanth Mahendra-Rajah - Analog Devices, Inc. - Executive VP of Finance & CFO + + + Thank you, Vince. Let me add my welcome to our first quarter earnings call. + + + My comments today, with the exception of revenue, will be on an adjusted basis, which excludes special items outlined in today's press release. First quarter revenue of $3.25 billion finished at the high end of our outlook, driven by continued share gains in industrial and automotive. + + + Our B2B markets represented 89% of revenue, up 25% year-over-year and increased 2% sequentially despite our first quarter typically being down. + + + Now let's look at performance by end market. Industrial, our most diverse and profitable end market represented 52% of revenue and hit another all-time high. This business has grown sequentially for 12 consecutive quarters. All markets increased year-over-year, led by automation, sustainable energy, instrumentation and test. Automotive, which represented 22% of revenue, also achieved another record, increasing 29% year-over-year and 6% sequentially. All applications grew double digits year-over-year as our market-leading positions across battery management and in-cabin connectivity continued to deliver significant growth. + + + Communications, which represented 15% of revenue, grew 18% year-over-year. As expected, comps declined slightly sequentially as strength in wired was offset by softness in wireless due to the timing of 5G deployments. And lastly, consumer, which represented 11% of revenue was down 5% year-over-year and declined 14% sequentially given weaker market trends and seasonality. + + + Now on to the rest of the P&L. Gross margin of 73.6% expanded 170 basis points year-over-year on favorable mix and cost synergies. OpEx was $733 million, down slightly sequentially as we balance strategic hiring with the tight discretionary spend and synergy capture. Given our strong operating leverage, combined with the synergy savings, our operating margin was 51.1%. Importantly, we have already captured nearly all of the $400 million cost synergy goal. As such, our communication will now turn to the revenue synergy opportunities from our combined portfolio and our complementary customer base with Maxim. + + + Recall that Anelise, our Chief Customer Officer, unveiled how we are strategically approaching these synergies during our Investor Day, and Vince has routinely highlighted some of these compelling opportunities over the past few quarters. To that end, we are closely monitoring and measuring progress from opportunity to design win, to new revenue. And while it is still early, design win momentum to date has exceeded our expectations. This gives us increased confidence in achieving our $1 billion-plus revenue synergy opportunity that we outlined at our Investor Day. + + + Non-op expenses were $60 million and the tax rate was just over 12%. All told, EPS came in at $2.75, up 42% year-over-year and hitting a new record. + + + Moving to the balance sheet. We ended the quarter with approximately $1.7 billion of cash and a net leverage ratio below 1. Days of inventory increased to 155 while channel inventory remains below our target level. Recall that last quarter, we outlined our strategy to rebuild strategic die bank and hold more finished goods inventory on our balance sheet as we moderate shipment into the channel during this time of inflection. + + + Moving on to cash flow. CapEx for the quarter was $176 million and $764 million over the trailing 12 months, representing 6% of revenue. We continue to expect CapEx to be high single digits as a percentage of sales in 2023 and then decline in subsequent years to our long-term target of mid-single digit. These investments will double our internal revenue output exiting next year and support strategic swing capacity between our + + + 4 + + + REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us + + + + + ©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. + + + + + + + FEBRUARY 15, 2023 / 3:00PM, ADI.OQ - Q1 2023 Analog Devices Inc Earnings Call + + + fabs and our foundry partners. The flexibility of our hybrid model across different geographies enhances our resiliency and offers our customers additional optionality. + + + Over the trailing 12 months, we generated $4.3 billion of free cash flow or 34% of revenue. Over this period, we have returned $4.7 billion to shareholders or over 100% of free cash flow via $3.1 billion of buybacks and dividends of $1.6 billion. We just raised our quarterly dividend by 13%, marking our fifth consecutive double-digit increase and 19 consecutive years of increases. This is a testament to our durable operating model that has generated positive free cash flow for 26 consecutive years. As a reminder, we target 100% free cash flow return. The dividend is the cornerstone of this policy, and we look to increase our dividend at a 10% CAGR through the cycle, with remaining cash used for share count reduction. + + + Now similar to prior quarters, I'd like to give a brief update on the operating backdrop. First, on markets. Industrial orders, as Vince highlighted, remained the strongest followed by automotive, while comms and consumer remain weak. Given the rapidly changing environment, we are diligently working with our customers to remove orders that they may no longer require. + + + At the same time, we have increased our supply by growing our internal output and working with our foundry partners. These actions have reduced our lead times with half of our portfolio now shipping in under 13 weeks. Despite this, backlog coverage remains around 1 year of revenue. As such, we expect our book-to-bill will remain below parity over the next couple of quarters as our backlog returns to more normal levels. Given these dynamics, we are guiding second quarter revenue to be $3.2 billion, plus or minus $100 million. We expect continued sequential growth in our industrial and automotive markets and another sequential decline in our communications and consumer markets. At the midpoint of our outlook, revenue will be up high single digits year-over-year with our B2B markets up over 10% once again. Operating margin is expected to be 51% plus or minus 70 basis points. + + + Our tax rate is now expected to be between 11% to 13% for the year. This guide reflects the new U.S. tax requirement to capitalize R&D expenses for tax purposes, resulting in higher upfront cash tax payments, but lowers our effective tax rate temporarily due to the deferred tax accounting requirements. + + + Based on these inputs, adjusted EPS is expected to be $2.75 plus or minus $0.10. In all, the macro backdrop remains uncertain. However, we remain cautiously optimistic in the near term given the resilient strength across our industrial and auto businesses, which represent over 75% of our revenue. + + + Longer term, we remain well-positioned to drive growth, enabled by our diverse, high-performance portfolio aligned with the key secular trends at the Intelligent edge. + + + Let me now pass it back to Mike for our Q&A. + + +Michael C. Lucarelli - Analog Devices, Inc. - VP, IR and FP&A + + + Thanks, Prashanth. We'll begin the Q&A session. We ask that you limit yourselves to 1 question in order allow for additional participants in the call this morning. If you have a follow-up question, please re-queue, I'll take your question if time allows. With that, we have our first question, please. + + + Q U E S T I O N S A N D A N S W E R S + + + Operator + + + (Operator Instructions) Our first question comes from the line of C.J. Muse from Evercore ISI. + + + 5 + + + REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us + + + + + ©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Analog Devices Inc. published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 23:08:04 UTC. + + diff --git a/news/ADI/2023.02.15/Analog Devices Reports Record First Quarter Fiscal 2023 Results.txt b/news/ADI/2023.02.15/Analog Devices Reports Record First Quarter Fiscal 2023 Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..6aad48a467c18a96a1ac10aca8d5c3e44d1fe330 --- /dev/null +++ b/news/ADI/2023.02.15/Analog Devices Reports Record First Quarter Fiscal 2023 Results.txt @@ -0,0 +1,2902 @@ + +Analog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, today announced financial results for its first quarter fiscal year 2023, which ended January 28, 2023. + +“ADI continues to execute exceptionally well with revenue growth of 21% year-over-year and record earnings per share,” said Vincent Roche, CEO and Chair. “Encouragingly, despite the macro uncertainty, demand remains resilient in our Industrial and Automotive markets, driven by continued momentum across secular growth areas, such as automation and electrification.” + +Roche continued, “Looking ahead, pervasive sensing, AI-driven edge computing, and ubiquitous connectivity are enabling new capabilities, applications, and markets at the Intelligent Edge. ADI, the bridge between the physical and digital worlds, is well-positioned to deliver breakthrough innovations that positively impact society and unlock long-term value for all stakeholders.” + +Performance for the First Quarter of Fiscal 2023 + +Results Summary(1) + +  + +  + +  + +  + +  + +(in millions, except per-share amounts and percentages) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended + +  + +Jan. 28, 2023 + +  + +Jan. 29, 2022 + +  + +Change + +Revenue + +$ + +3,250 + +  + +  + +$ + +2,684 + +  + +  + +  + +21 + +% + +Gross margin + +$ + +2,124 + +  + +  + +$ + +1,402 + +  + +  + +  + +51 + +% + +Gross margin percentage + +  + +65.4 + +% + +  + +  + +52.2 + +% + +  + +1,320 bps + +Operating income + +$ + +1,131 + +  + +  + +$ + +365 + +  + +  + +  + +210 + +% + +Operating margin + +  + +34.8 + +% + +  + +  + +13.6 + +% + +  + +2,120 bps + +Diluted earnings per share + +$ + +1.88 + +  + +  + +$ + +0.53 + +  + +  + +  + +255 + +% + +  + +  + +  + +  + +  + +  + +Adjusted Results + +  + +  + +  + +  + +  + +Adjusted gross margin + +$ + +2,392 + +  + +  + +$ + +1,931 + +  + +  + +  + +24 + +% + +Adjusted gross margin percentage + +  + +73.6 + +% + +  + +  + +71.9 + +% + +  + +170 bps + +Adjusted operating income + +$ + +1,659 + +  + +  + +$ + +1,228 + +  + +  + +  + +35 + +% + +Adjusted operating margin + +  + +51.1 + +% + +  + +  + +45.8 + +% + +  + +530 bps + +Adjusted diluted earnings per share + +$ + +2.75 + +  + +  + +$ + +1.94 + +  + +  + +  + +42 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Three Months +Ended + +  + +Trailing Twelve +Months + +Cash Generation + +  + +  + +Jan. 28, 2023 + +  + +Jan. 28, 2023 + +Net cash provided by operating activities + +  + +  + +$ + +1,406 + +  + +  + +$ + +5,025 + +  + +% of revenue + +  + +  + +  + +43 + +% + +  + +  + +40 + +% + +Capital expenditures + +  + +  + +$ + +(176 + +) + +  + +$ + +(764 + +) + +Free cash flow + +  + +  + +$ + +1,230 + +  + +  + +$ + +4,261 + +  + +% of revenue + +  + +  + +  + +38 + +% + +  + +  + +34 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Three Months +Ended + +  + +Trailing Twelve +Months + +Cash Return + +  + +  + +Jan. 28, 2023 + +  + +Jan. 28, 2023 + +Dividend paid + +  + +  + +$ + +(385 + +) + +  + +$ + +(1,567 + +) + +Stock repurchases + +  + +  + +  + +(655 + +) + +  + +  + +(3,156 + +) + +Total cash returned + +  + +  + +$ + +(1,040 + +) + +  + +$ + +(4,723 + +) + +  + +  + +  + +  + +  + +  + +(1) The sum and/or computation of the individual amounts may not equal the total due to rounding. + +Outlook for the Second Quarter of Fiscal Year 2023 + +For the second quarter of fiscal 2023, we are forecasting revenue of $3.20 billion, +/- $100 million. At the midpoint of this revenue outlook, we expect reported operating margin of approximately 34.7%, +/-130 bps, and adjusted operating margin of approximately 51.0%, +/-70 bps. We are planning for reported EPS to be $1.85, +/-$0.10, and adjusted EPS to be $2.75, +/-$0.10. + +Our second quarter fiscal 2023 outlook is based on current expectations and actual results may differ materially, as a result of, among other things, the important factors discussed at the end of this release. These statements supersede all prior statements regarding our business outlook set forth in prior ADI news releases, and ADI disclaims any obligation to update these forward-looking statements. + +The adjusted results and adjusted anticipated results above are financial measures presented on a non-GAAP basis. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this press release. See also “Non-GAAP Financial Information” section for additional information. + +Dividend Payment + +The ADI Board of Directors has declared a quarterly cash dividend of $0.86 per outstanding share of common stock. The dividend will be paid on March 8, 2023 to all shareholders of record at the close of business on February 27, 2023. + +Conference Call Scheduled for Today, Wednesday, February 15, 2023 at 10:00 am ET + +ADI will host a conference call to discuss our first quarter fiscal 2023 results and short-term outlook today, beginning at 10:00 am ET. Investors may join via webcast, accessible at investor.analog.com. + +Non-GAAP Financial Information + +This release includes non-GAAP financial measures that are not in accordance with, nor an alternative to, generally accepted accounting principles (GAAP) and may be different from non-GAAP measures presented by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. These non-GAAP measures have material limitations in that they do not reflect all of the amounts associated with the Company’s results of operations as determined in accordance with GAAP and should not be considered in isolation from, or as a substitute for, the Company’s financial results presented in accordance with GAAP. The Company’s use of non GAAP measures, and the underlying methodology when including or excluding certain items, is not necessarily an indication of the results of operations that may be expected in the future, or that the Company will not, in fact, record such items in future periods. You are cautioned not to place undue reliance on these non-GAAP measures. Reconciliations of these non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are provided in the financial tables included in this release. + +Management uses non-GAAP measures internally to evaluate the Company’s operating performance from continuing operations against past periods and to budget and allocate resources in future periods. These non-GAAP measures also assist management in evaluating the Company’s core business and trends across different reporting periods on a consistent basis. Management also uses these non-GAAP measures as the primary performance measurement when communicating with analysts and investors regarding the Company’s earnings results and outlook and believes that the presentation of these non-GAAP measures is useful to investors because it provides investors with the operating results that management uses to manage the Company and enables investors and analysts to evaluate the Company’s core business. Management also believes that the non-GAAP liquidity measure free cash flow is useful both internally and to investors because it provides information about the amount of cash generated after capital expenditures that is then available to repay debt obligations, make investments and fund acquisitions, and for certain other activities. + +The non-GAAP financial measures referenced by ADI in this release include: adjusted gross margin, adjusted gross margin percentage, adjusted operating expenses, adjusted operating expenses percentage, adjusted operating income, adjusted operating margin, adjusted nonoperating expense (income), adjusted income before income taxes, adjusted provision for income taxes, adjusted tax rate, adjusted diluted earnings per share (EPS), free cash flow, and free cash flow revenue percentage. + +Adjusted gross margin is defined as gross margin, determined in accordance with GAAP, excluding certain acquisition related expenses1, which are described further below. Adjusted gross margin percentage represents adjusted gross margin divided by revenue. + +Adjusted operating expenses is defined as operating expenses, determined in accordance with GAAP, excluding: certain acquisition related expenses1, acquisition related transaction costs2, and special charges, net3, which are described further below. Adjusted operating expenses percentage represents adjusted operating expenses divided by revenue. + +Adjusted operating income is defined as operating income, determined in accordance with GAAP, excluding: acquisition related expenses1, acquisition related transaction costs2, and special charges, net3, which are described further below. Adjusted operating margin represents adjusted operating income divided by revenue. + +Adjusted nonoperating expense (income) is defined as nonoperating expense (income), determined in accordance with GAAP, excluding: certain acquisition related expenses1, which is described further below. + +Adjusted income before income taxes is defined as income before income taxes, determined in accordance with GAAP, excluding: acquisition related expenses1, acquisition related transaction costs2, and special charges, net3, which are described further below. + +Adjusted provision for income taxes is defined as provision for income taxes, determined in accordance with GAAP, excluding tax related items4 , which are described further below. Adjusted tax rate represents adjusted provision for income taxes divided by adjusted income before income taxes. + +Adjusted diluted EPS is defined as diluted EPS, determined in accordance with GAAP, excluding: acquisition related expenses1, acquisition related transaction costs2, special charges, net3, and tax related items4, which are described further below. + +Free cash flow is defined as net cash provided by operating activities, determined in accordance with GAAP, less additions to property, plant and equipment, net. Free cash flow revenue percentage represents free cash flow divided by revenue. + +1Acquisition Related Expenses: Expenses incurred as a result of current and prior period acquisitions and primarily include expenses associated with the fair value adjustments to debt, inventory, property, plant and equipment and amortization of acquisition related intangibles, which include acquired intangibles such as purchased technology and customer relationships. Expenses also include fair value adjustments associated with the replacement of share-based awards related to the Maxim Integrated Products, Inc. (Maxim) acquisition. We excluded these costs from our non-GAAP measures because they relate to specific transactions and are not reflective of our ongoing financial performance. + +2Acquisition Related Transaction Costs: Costs directly related to the Maxim Integrated Products, Inc. acquisition, including legal, accounting and other professional fees as well as integration-related costs. We excluded these costs from our non-GAAP measures because they relate to a specific transaction and are not reflective of our ongoing financial performance. + +3Special Charges, net: Expenses, net, incurred as part of the integration of the Acquisition, in connection with facility closures, consolidation of manufacturing facilities, severance, other accelerated stock-based compensation expense and other cost reduction efforts or reorganizational initiatives. We excluded these expenses from our non-GAAP measures because apart from ongoing expense savings as a result of such items, these expenses have no direct correlation to the operation of our business in the future. + +4Tax Related Items: Income tax effect of the non-GAAP items discussed above and certain other income tax benefits associated with prior periods. We excluded the income tax effect of these tax related items from our non-GAAP measures because they are not associated with the tax expense on our current operating results. + +About Analog Devices + +Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With revenue of more than $12 billion in FY22 and approximately 25,000 people globally working alongside 125,000 global customers, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and Twitter. + +Forward Looking Statements + +This press release contains forward-looking statements, which address a variety of subjects including, for example, our statements regarding sustained performance; demand and supply; expected revenue, operating margin, earnings per share, and other financial results; expected market trends and acceleration of those trends, market share gains, long-term growth; expected customer demand for our products; expected product offerings, capabilities, and applications and the importance of our product offerings and technologies to our customers; and market position. Statements that are not historical facts, including statements about our beliefs, plans and expectations, are forward-looking statements. Such statements are based on our current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: political and economic uncertainty, including any faltering in global economic conditions or the stability of credit and financial markets; erosion of consumer confidence and declines in customer spending or cancellations of orders for our products; unavailability of raw materials, services, supplies or manufacturing capacity; disruptions to our manufacturing operations or our ability to execute our business strategy; changes in geographic, product or customer mix; changes in export classifications, import and export regulations or duties and tariffs; changes in our estimates of our expected tax rates based on current tax law; adverse results in litigation matters, including the potential for litigation related to the Maxim acquisition; the risk that we will be unable to retain and hire key personnel including as a result of labor shortages; changes in demand for semiconductors; the uncertainly as to the extent of the duration, scope, and impacts of the COVID-19 pandemic; attempted or actual security breaches and other cybersecurity incidents that disrupt our operations; unanticipated difficulties or expenditures relating to integrating Maxim; uncertainty as to the long-term value of our common stock; the discretion of our Board of Directors to declare dividends and our ability to pay dividends in the future; factors impacting our ability to repurchase shares; the diversion of management time on integrating Maxim's business and operations; our ability to successfully integrate acquired businesses and technologies, including Maxim; and the risk that expected benefits, synergies and growth prospects of acquisitions, including our acquisition of Maxim, may not be fully achieved in a timely manner, or at all. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission (“SEC”), including the risk factors contained in our most recent Annual Report on Form 10-K. Forward-looking statements represent management’s current expectations and are inherently uncertain. Except as required by law, we do not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances. + +Analog Devices and the Analog Devices logo are registered trademarks or trademarks of Analog Devices, Inc. All other trademarks mentioned in this document are the property of their respective owners. + +ANALOG DEVICES, INC. + +CONDENSED CONSOLIDATED STATEMENTS OF INCOME + +(Unaudited) + +(In thousands, except per share amounts) + +  + +Three Months Ended + +  + +Jan. 28, 2023 + +  + +Jan. 29, 2022 + +Revenue + +$ + +3,249,630 + +  + +  + +$ + +2,684,293 + +  + +Cost of sales + +  + +1,125,289 + +  + +  + +  + +1,282,296 + +  + +Gross margin + +  + +2,124,341 + +  + +  + +  + +1,401,997 + +  + +Operating expenses: + +  + +  + +  + +Research and development + +  + +414,095 + +  + +  + +  + +426,780 + +  + +Selling, marketing, general and administrative + +  + +326,284 + +  + +  + +  + +297,365 + +  + +Amortization of intangibles + +  + +253,142 + +  + +  + +  + +253,367 + +  + +Special charges, net + +  + +— + +  + +  + +  + +59,728 + +  + +Total operating expenses + +  + +993,521 + +  + +  + +  + +1,037,240 + +  + +Operating income + +  + +1,130,820 + +  + +  + +  + +364,757 + +  + +Nonoperating expense (income): + +  + +  + +  + +Interest expense + +  + +60,453 + +  + +  + +  + +51,964 + +  + +Interest income + +  + +(10,829 + +) + +  + +  + +(218 + +) + +Other, net + +  + +7,723 + +  + +  + +  + +(10,544 + +) + +Total nonoperating expense (income) + +  + +57,347 + +  + +  + +  + +41,202 + +  + +Income before income taxes + +  + +1,073,473 + +  + +  + +  + +323,555 + +  + +Provision for income taxes + +  + +111,999 + +  + +  + +  + +43,478 + +  + +Net income + +$ + +961,474 + +  + +  + +$ + +280,077 + +  + +  + +  + +  + +  + +Shares used to compute earnings per common share - basic + +  + +507,121 + +  + +  + +  + +525,291 + +  + +Shares used to compute earnings per common share - diluted + +  + +511,184 + +  + +  + +  + +530,142 + +  + +  + +  + +  + +  + +Basic earnings per common share + +$ + +1.90 + +  + +  + +$ + +0.53 + +  + +Diluted earnings per common share + +$ + +1.88 + +  + +  + +$ + +0.53 + +  + +ANALOG DEVICES, INC. + +CONDENSED CONSOLIDATED BALANCE SHEETS + +(Unaudited) + +(In thousands) + +  + +Jan. 28, 2023 + +  + +Oct. 29, 2022 + +Cash & cash equivalents + +$ + +1,670,462 + +  + +$ + +1,470,572 + +Accounts receivable + +  + +1,629,870 + +  + +  + +1,800,462 + +Inventories + +  + +1,522,942 + +  + +  + +1,399,914 + +Other current assets + +  + +338,226 + +  + +  + +267,044 + +Total current assets + +  + +5,161,500 + +  + +  + +4,937,992 + +Net property, plant and equipment + +  + +2,524,655 + +  + +  + +2,401,304 + +Goodwill + +  + +26,913,134 + +  + +  + +26,913,134 + +Intangible assets, net + +  + +12,763,229 + +  + +  + +13,265,406 + +Deferred tax assets + +  + +2,267,178 + +  + +  + +2,264,888 + +Other assets + +  + +604,824 + +  + +  + +519,626 + +Total assets + +$ + +50,234,520 + +  + +$ + +50,302,350 + +  + +  + +  + +  + +Current liabilities + +$ + +2,433,677 + +  + +$ + +2,442,655 + +Long-term debt + +  + +6,543,250 + +  + +  + +6,548,625 + +Deferred income taxes + +  + +3,477,044 + +  + +  + +3,622,538 + +Other non-current liabilities + +  + +1,249,064 + +  + +  + +1,223,209 + +Shareholders' equity + +  + +36,531,485 + +  + +  + +36,465,323 + +Total liabilities & shareholders' equity + +$ + +50,234,520 + +  + +$ + +50,302,350 + +ANALOG DEVICES, INC. + +CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS + +(Unaudited) + +(In thousands) + +  + +Three Months Ended + +  + +Jan. 28, 2023 + +  + +Jan. 29, 2022 + +Cash flows from operating activities: + +  + +  + +  + +Net income + +$ + +961,474 + +  + +  + +$ + +280,077 + +  + +Adjustments to reconcile net income to net cash provided by operations: + +  + +  + +  + +Depreciation + +  + +85,321 + +  + +  + +  + +65,165 + +  + +Amortization of intangibles + +  + +502,177 + +  + +  + +  + +504,645 + +  + +Stock-based compensation expense + +  + +75,041 + +  + +  + +  + +86,939 + +  + +Cost of goods sold for inventory acquired + +  + +— + +  + +  + +  + +271,396 + +  + +Deferred income taxes + +  + +(146,354 + +) + +  + +  + +(34,651 + +) + +Non-cash operating lease costs + +  + +(2,646 + +) + +  + +  + +7,823 + +  + +Other + +  + +12,378 + +  + +  + +  + +(9,571 + +) + +Changes in operating assets and liabilities + +  + +(81,086 + +) + +  + +  + +(315,410 + +) + +Total adjustments + +  + +444,831 + +  + +  + +  + +576,336 + +  + +Net cash provided by operating activities + +  + +1,406,305 + +  + +  + +  + +856,413 + +  + +Cash flows from investing activities: + +  + +  + +  + +Additions to property, plant and equipment + +  + +(176,158 + +) + +  + +  + +(111,133 + +) + +Other + +  + +102 + +  + +  + +  + +7,824 + +  + +Net cash used for investing activities + +  + +(176,056 + +) + +  + +  + +(103,309 + +) + +Cash flows from financing activities: + +  + +  + +  + +Early termination of debt + +  + +— + +  + +  + +  + +(519,116 + +) + +Dividend payments to shareholders + +  + +(385,452 + +) + +  + +  + +(362,645 + +) + +Repurchase of common stock + +  + +(654,557 + +) + +  + +  + +(76,019 + +) + +Proceeds from employee stock plans + +  + +41,238 + +  + +  + +  + +8,471 + +  + +Other + +  + +(31,588 + +) + +  + +  + +12,041 + +  + +Net cash used for financing activities + +  + +(1,030,359 + +) + +  + +  + +(937,268 + +) + +Effect of exchange rate changes on cash + +  + +— + +  + +  + +  + +(3,401 + +) + +Net increase (decrease) in cash and cash equivalents + +  + +199,890 + +  + +  + +  + +(187,565 + +) + +Cash and cash equivalents at beginning of period + +  + +1,470,572 + +  + +  + +  + +1,977,964 + +  + +Cash and cash equivalents at end of period + +$ + +1,670,462 + +  + +  + +$ + +1,790,399 + +  + +ANALOG DEVICES, INC. +REVENUE TRENDS BY END MARKET +(Unaudited) +(In thousands) + +The categorization of revenue by end market is determined using a variety of data points including the technical characteristics of the product, the “sold to” customer information, the "ship to" customer information and the end customer product or application into which our product will be incorporated. As data systems for capturing and tracking this data and our methodology evolves and improves, the categorization of products by end market can vary over time. When this occurs, we reclassify revenue by end market for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of revenue within, each end market. + +  + +Three Months Ended + +  + +January 28, 2023 + +  + +January 29, 2022 + +  + +Revenue + +  + +% of Revenue1 + +  + +Y/Y% + +  + +Revenue + +  + +% of Revenue1 + +Industrial + +$ + +1,690,202 + +  + +52% + +  + +26% + +  + +$ + +1,340,284 + +  + +50% + +Automotive + +  + +718,165 + +  + +22% + +  + +29% + +  + +  + +557,634 + +  + +21% + +Communications + +  + +487,986 + +  + +15% + +  + +18% + +  + +  + +412,754 + +  + +15% + +Consumer + +  + +353,277 + +  + +11% + +  + +(5)% + +  + +  + +373,621 + +  + +14% + +Total revenue + +$ + +3,249,630 + +  + +100% + +  + +21% + +  + +$ + +2,684,293 + +  + +100% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +1) The sum of the individual percentages may not equal the total due to rounding. + +ANALOG DEVICES, INC. + +RECONCILIATION OF GAAP TO NON-GAAP RESULTS + +(Unaudited) + +(In thousands, except per share amounts) + +  + +Three Months Ended + +  + +Jan. 28, 2023 + +  + +Jan. 29, 2022 + +Gross margin + +$ + +2,124,341 + +  + +  + +$ + +1,401,997 + +  + +Gross margin percentage + +  + +65.4 + +% + +  + +  + +52.2 + +% + +Acquisition related expenses + +  + +267,514 + +  + +  + +  + +528,614 + +  + +Adjusted gross margin + +$ + +2,391,855 + +  + +  + +$ + +1,930,611 + +  + +Adjusted gross margin percentage + +  + +73.6 + +% + +  + +  + +71.9 + +% + +  + +  + +  + +  + +Operating expenses + +$ + +993,521 + +  + +  + +$ + +1,037,240 + +  + +Percent of revenue + +  + +30.6 + +% + +  + +  + +38.6 + +% + +Acquisition related expenses + +  + +(258,059 + +) + +  + +  + +(262,200 + +) + +Acquisition related transaction costs + +  + +(2,563 + +) + +  + +  + +(12,891 + +) + +Special charges, net + +  + +— + +  + +  + +  + +(59,728 + +) + +Adjusted operating expenses + +$ + +732,899 + +  + +  + +$ + +702,421 + +  + +Adjusted operating expenses percentage + +  + +22.6 + +% + +  + +  + +26.2 + +% + +  + +  + +  + +  + +Operating income + +$ + +1,130,820 + +  + +  + +$ + +364,757 + +  + +Operating margin + +  + +34.8 + +% + +  + +  + +13.6 + +% + +Acquisition related expenses + +  + +525,573 + +  + +  + +  + +790,814 + +  + +Acquisition related transaction costs + +  + +2,563 + +  + +  + +  + +12,891 + +  + +Special charges, net + +  + +— + +  + +  + +  + +59,728 + +  + +Adjusted operating income + +$ + +1,658,956 + +  + +  + +$ + +1,228,190 + +  + +Adjusted operating margin + +  + +51.1 + +% + +  + +  + +45.8 + +% + +  + +  + +  + +  + +Nonoperating expense (income) + +$ + +57,347 + +  + +  + +$ + +41,202 + +  + +Acquisition related expenses + +  + +2,288 + +  + +  + +  + +2,299 + +  + +Adjusted nonoperating expense (income) + +$ + +59,635 + +  + +  + +$ + +43,501 + +  + +  + +  + +  + +  + +Income before income taxes + +$ + +1,073,473 + +  + +  + +$ + +323,555 + +  + +Acquisition related expenses + +  + +523,285 + +  + +  + +  + +788,515 + +  + +Acquisition related transaction costs + +  + +2,563 + +  + +  + +  + +12,891 + +  + +Special charges, net + +  + +— + +  + +  + +  + +59,728 + +  + +Adjusted income before income taxes + +$ + +1,599,321 + +  + +  + +$ + +1,184,689 + +  + +  + +  + +  + +  + +Provision for income taxes + +$ + +111,999 + +  + +  + +$ + +43,478 + +  + +Effective tax rate + +  + +10.4 + +% + +  + +  + +13.4 + +% + +Tax related items + +  + +81,843 + +  + +  + +  + +114,389 + +  + +Adjusted provision for income taxes + +$ + +193,842 + +  + +  + +$ + +157,867 + +  + +Adjusted tax rate + +  + +12.1 + +% + +  + +  + +13.3 + +% + +  + +  + +  + +  + +Diluted EPS + +$ + +1.88 + +  + +  + +$ + +0.53 + +  + +Acquisition related expenses + +  + +1.02 + +  + +  + +  + +1.49 + +  + +Acquisition related transaction costs + +  + +0.01 + +  + +  + +  + +0.02 + +  + +Special charges, net + +  + +— + +  + +  + +  + +0.11 + +  + +Tax related items + +  + +(0.16 + +) + +  + +  + +(0.22 + +) + +Adjusted diluted EPS* + +$ + +2.75 + +  + +  + +$ + +1.94 + +  + +* The sum of the individual per share amounts may not equal the total due to rounding. + +ANALOG DEVICES, INC. + +RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW + +(Unaudited) + +(In thousands) + +  + +Trailing +Twelve +Months + +  + +Three Months Ended + +  + +Jan. 28, 2023 + +  + +Jan. 28, 2023 + +  + +Oct. 29, 2022 + +  + +Jul. 30, 2022 + +  + +Apr. 30, 2022 + +Revenue + +$ + +12,579,290 + +  + +  + +$ + +3,249,630 + +  + +  + +$ + +3,247,716 + +  + +  + +$ + +3,109,880 + +  + +  + +$ + +2,972,064 + +  + +Net cash provided by operating activities + +$ + +5,025,293 + +  + +  + +$ + +1,406,305 + +  + +  + +$ + +1,149,336 + +  + +  + +$ + +1,247,846 + +  + +  + +$ + +1,221,806 + +  + +% of Revenue + +  + +40 + +% + +  + +  + +43 + +% + +  + +  + +35 + +% + +  + +  + +40 + +% + +  + +  + +41 + +% + +Capital expenditures + +$ + +(764,333 + +) + +  + +$ + +(176,158 + +) + +  + +$ + +(304,512 + +) + +  + +$ + +(164,884 + +) + +  + +$ + +(118,779 + +) + +Free cash flow + +$ + +4,260,960 + +  + +  + +$ + +1,230,147 + +  + +  + +$ + +844,824 + +  + +  + +$ + +1,082,962 + +  + +  + +$ + +1,103,027 + +  + +% of Revenue + +  + +34 + +% + +  + +  + +38 + +% + +  + +  + +26 + +% + +  + +  + +35 + +% + +  + +  + +37 + +% + +ANALOG DEVICES, INC. + +RECONCILIATION OF PROJECTED GAAP TO NON-GAAP RESULTS + +(Unaudited) + +  + +Three Months Ending April 29, 2023 + +  + +Reported + +  + +Adjusted + +Revenue + +$3.2 Billion + +  + +$3.2 Billion + +  + +(+/- $100 Million) + +  + +(+/- $100 Million) + +Operating margin + +34.7% + +  + +51.0% (1) + +  + +(+/-130 bps) + +  + +(+/-70 bps) + +Nonoperating expense + +~ $50 Million + +  + +~ $50 Million + +Tax rate + +10% - 12% + +  + +11% - 13% (2) + +Earnings per share + +$1.85 + +  + +$2.75 (3) + +  + +(+/- $0.10) + +  + +(+/- $0.10) + +(1) Includes $519 million of adjustments related to acquisition related expenses and $4 million of adjustments related to acquisition related transaction costs as previously defined in the Non-GAAP Financial Information section of this press release. +(2) Includes $71 million of tax effects associated with the adjustments for acquisition related expenses and acquisition related transaction costs noted above. +(3) Includes $0.90 of adjustments related to the net impact of acquisition related expenses and acquisition related transaction costs, as well as the tax effects on those items. + +(ADI-WEB) +View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005261/en/ \ No newline at end of file diff --git a/news/ADI/2023.02.15/Marketmind: Interminable anxiety.txt b/news/ADI/2023.02.15/Marketmind: Interminable anxiety.txt new file mode 100644 index 0000000000000000000000000000000000000000..e41385056a9d2f7542c8b70d37ebc88929122843 --- /dev/null +++ b/news/ADI/2023.02.15/Marketmind: Interminable anxiety.txt @@ -0,0 +1 @@ +U.S. inflation is not falling fast enough, the Federal Reserve is stamping its foot and the assumed 'terminal' interest rate in this brutal monetary policy tightening cycle is climbing upwards once again.The net impact of Tuesday's sticky U.S. inflation report for January and the red hot employment readout for the same month has been to catapult market pricing of both peak Fed rates and where they'll be at year-end well above 5% and above where even Fed guidance had been late last year.Deutsche Bank, for one, has raised its U.S. terminal rate forecast by half a percentage point to 5.6% since the CPI release, with some market players already mulling the chance that even 6% now comes on the risk radar. And as one of the leading doves on the Fed's policymaking council - Vice Chair Lael Brainard - is set to depart the central bank later this month, her colleagues seem happy for markets to look ever higher for the rates summit."Clearly there are risks that inflation stays higher for longer than expected, or that we might need to raise rates higher" than current forecasts, said New York Fed President John Williams, adding that a year-end rate between 5.0% and 5.50% was "the right kind of framing".The about-turn in rates markets in just two weeks has been extraordinary - with Fed funds futures pricing moving from a terminal rate as low as 4.8% to 5.26% on Wednesday. Year-end pricing has moved above 5% too. Two-year Treasury yields soared to a 3-month high of 4.64% on Tuesday - where current Fed rates sit - and only gave back a fraction of that on Wednesday.The dollar extended gains against Japan's yen and the pound but was restrained against the euro by speculation the European Central Bank faces a similar rethink on inflation and rates that's also pushing up where its peak tightening might be.U.S. stocks held up remarkably well on Tuesday - helped by hopes recession fears are easing even as rate speculation intensifies. But futures and world stocks in general were feeling the heat today.U.S. January industrial production and retail sales data are now the next gauge of what's happening on the ground in the U.S. economy.Sterling slipped as UK inflation fell faster than expected last month, even though the annual inflation rate remains in double digits.Despite many banks benefiting from the higher interest rate environment, Britain's Barclays has proven an outlier and its shares dropped almost 10% on Wednesday after a dire 2022 earnings update.Barclays reported a 14% fall in full-year pre-tax profit as earnings were pole-axed by surging costs, a collapse in deal fees and multi-million dollar fines relating to an administrative blunder.There was better news on the inflation front in energy markets. Oil dropped for a second day on Wednesday, as an industry report pointed to ample supplies in the United States and anticipation of further rate hikes sparked concerns over weaker fuel demand and the economic outlook.Warren Buffett's Berkshire Hathaway, meantime, slashed its stake in Taiwanese contract chipmaker TSMC as well as in some banks in the fourth quarter, while bolstering its holdings in Apple Inc.Berkshire cut its position in Taiwan Semiconductor Manufacturing Co - roughly three months after it said it had bought more than $4.1 billion worth of the stock.Key developments that may provide direction to U.S. markets later on Wednesday:* U.S. Feb NAHB housing index, Empire manufacturing index, Jan retail sales, industrial production, Dec business inventories, Dec TIC Treasury holdings data * European Central Bank President Christine Lagarde speaks in European Parliament* U.S. Treasury auctions 20-year bonds* U.S. corp earnings: Cisco, Analog Devices, Marathon, AIG, Equinix, Kraft Heinz, Biogen, Albemarle, ROBLOX, Zillow, Roku, Rollins, EQT, Synopsys (By Mike Dolan, editing by Emelia Sithole-Matarise; mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/ADI/2023.02.16/Join Analog Devices at MWC 2023 and Experience the Future of Connectivity Today.txt b/news/ADI/2023.02.16/Join Analog Devices at MWC 2023 and Experience the Future of Connectivity Today.txt new file mode 100644 index 0000000000000000000000000000000000000000..a04cab9a9db37dcb01a14fd7c7e8faab33e30a43 --- /dev/null +++ b/news/ADI/2023.02.16/Join Analog Devices at MWC 2023 and Experience the Future of Connectivity Today.txt @@ -0,0 +1,17 @@ + +Analog Devices, Inc. (Nasdaq: ADI) invites the public to experience the future of connectivity today through interactive demonstrations and expert discussions at Mobile World Congress (MWC) 2023. Visit Hall 2, Booth #2B18 to learn how ADI aims to minimize environmental impact, enable and accelerate breakthrough innovations, and enrich customers’ lives through solutions which reduce energy consumption, shorten design cycles, and enable the future of work. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230216005254/en/Join Analog Devices at MWC 2023 and experience the future of connectivity today. (Graphic: Business Wire) +ADI’s solutions enable customers to deliver innovative, advanced Radio Units (RUs) faster using conformance tested reference design platforms with commercial grade RU IP. ADI's experts will be on hand to discuss RAN energy saving solutions and demonstrate platform interoperability. Furthermore, ADI’s Consumer team will demonstrate their latest innovations in connectivity with applications such as mixed reality (MR) headsets and audible wearables. + +Radio unit demonstration highlights: + +In a world where virtual connections are increasingly part of everyday life, ADI will present several advancements in consumer technology which enrich the sensory experience with realistic human interactions: + +For details about ADI’s O-RU Radio Platform, visit ADI's O-RU Radio Platform web page. The interoperability proven platform with fully functional end to end calls is on display at Mobile World Congress (MWC) within ADI’s booth (Hall 2, 2B18). For more information, visit ADI's MWC web page. + +About Analog Devices + +Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With revenue of more than $12 billion in FY22 and approximately 25,000 people globally working alongside 125,000 global customers, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and Twitter. + +All trademarks and registered trademarks are the property of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005254/en/ \ No newline at end of file diff --git a/news/ADI/2023.02.23/Analog Devices and Marvell Showcase Next-Generation 5G Massive MIMO Radio Unit Platform...txt b/news/ADI/2023.02.23/Analog Devices and Marvell Showcase Next-Generation 5G Massive MIMO Radio Unit Platform...txt new file mode 100644 index 0000000000000000000000000000000000000000..e4ee00a20bf38e13d58c8b7bdc81555034e1d024 --- /dev/null +++ b/news/ADI/2023.02.23/Analog Devices and Marvell Showcase Next-Generation 5G Massive MIMO Radio Unit Platform...txt @@ -0,0 +1,27 @@ + +Analog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge, and Marvell Technology, Inc. (Nasdaq: MRVL), a leader in data infrastructure semiconductor solutions, announced their next-generation 5G massive MIMO (mMIMO) reference design platform with support for Open RAN. The combination of ADI’s latest RadioVerse® Transceiver SoC and the Marvell® OCTEON® 10 Fusion 5G baseband processor – the industry’s first 5 nm digital beamforming solution for 5G, improves the time-to-market for advanced mMIMO radio units and O-RAN support with up to 40% lower energy consumption, smaller size, and lower weight. The OCTEON 10 Fusion baseband processor also provides flexible L1 implementation, with hardware and software reuse across the RU (Radio Unit) and DU (Distributed Unit) to facilitate evolving L1 splits among operators worldwide over the coming years, while the RadioVerse SoC provides extensive digital RF front end capabilities including field proven DPD. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230223005331/en/Analog Devices and Marvell showcase next-generation 5G massive MIMO radio unit platform at Mobile World Congress 2023. (Graphic: Business Wire) +“As mMIMO radio functionality grows in complexity, more specialized silicon approaches are required,” said Alex Jinsung Choi, Chairman of the O-RAN ALLIANCE. “Reference designs like the one created by ADI and Marvell help catalyze the O-RAN market for 5G mMIMO radio units by enabling advanced configurations that meet network operators’ high expectations for power efficiency and performance.” + +Together, the RadioVerse Transceiver SoC and the OCTEON 10 Fusion processor support the entire signal chain with unmatched RU system efficiency. The ADRV9040 RadioVerse Transceiver SoC includes substantial digital capabilities including linearization algorithms for boosting power amplifier efficiency and performance, as well as digital channel filters which reduce interface rates. The OCTEON 10 Fusion 5G baseband processor has specialized accelerators optimized for efficiently processing complex beamforming algorithms, along with dedicated processors for the low PHY baseband which can be configured for the various O-RAN split 7.2x configurations. + +“Infrastructure vendors face many challenges when developing O-RAN mMIMO radio units, including access to optimized semiconductors,” said Joe Barry, Vice President of Marketing, Systems & Technology in the Communication and Cloud Business Unit at ADI. “The performance and efficiency of this platform makes industry-leading technology available to both established and emerging vendors.” + +“Marvell is pleased to collaborate with ADI in taking mMIMO radios to the next level,” said Will Chu, Senior Vice President, Processors Business Group at Marvell. “The combination of Marvell’s OCTEON 10 Fusion 5G baseband processor and ADI’s leading RF transceiver technology provides OEMs a 5G Open Radio Unit reference design that scales the capabilities and performance of next-generation mMIMO beamforming at the lowest possible power.” + +The reference design, which is expandable to support a 64T64R configuration, supports 32 transmit and receive antennas (32T32R) with 400 MHz of operational bandwidth and 300 MHz of instantaneous bandwidth. The OCTEON 10 Fusion 5G baseband processor and RadioVerse SoC leverage hardware accelerators as well as the industry-leading RF and digital baseband process nodes shipping commercially—16 nm and 5 nm respectively—delivering up to 40% reduction in energy consumption per bit as compared over the previous generation. The platform enables Network Energy Savings (NES) modes, which deliver additional power savings. + +The platform is on display at Mobile World Congress within ADI’s booth (Hall 2, 2B18) and Marvell’s booth (Hall 2, 2F34). + +About Analog Devices + +Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With revenue of more than $12 billion in FY22 and approximately 25,000 people globally working alongside 125,000 global customers, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and Twitter. + +About Marvell + +To deliver the data infrastructure technology that connects the world, we’re building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world’s leading technology companies for over 25 years, we move, store, process and secure the world’s data with semiconductor solutions designed for our customers’ current needs and future ambitions. Through a process of deep collaboration and transparency, we’re ultimately changing the way tomorrow’s enterprise, cloud, automotive, and carrier architectures transform—for the better. + +Disclaimer: This press release contains forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future events, solutions, or achievements. Actual events or results may differ materially from those contemplated in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and no person assumes any obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. + +All trademarks and registered trademarks are the property of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005331/en/ \ No newline at end of file diff --git a/news/ADI/2023.02.27/Reference Design Platform by Analog Devices Reduces Time to Market for Radio Designers.txt b/news/ADI/2023.02.27/Reference Design Platform by Analog Devices Reduces Time to Market for Radio Designers.txt new file mode 100644 index 0000000000000000000000000000000000000000..0dcadb499ee60e7c3b37006b8650bdcc9d344d88 --- /dev/null +++ b/news/ADI/2023.02.27/Reference Design Platform by Analog Devices Reduces Time to Market for Radio Designers.txt @@ -0,0 +1,21 @@ + +Analog Devices, Inc. (Nasdaq: ADI) today announced it has launched a fully integrated open radio unit (O-RU) reference design platform that enables radio designers to reduce risk and time to market. The platform is a complete solution from the optical fronthaul to RF and allows for hardware and software customization for macro and small cell radio units (RUs). The platform leverages industry-leading technologies that drive advanced 4G and 5G RU requirements and includes support for all sub 6GHz band and power variants, including multi-band applications. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230227005005/en/Reference design platform by Analog Devices reduces time to market for radio designers. (Photo: Business Wire) +With the timeline for O-RUs becoming more stringent, and operator requirements more demanding and complex, RU developer resources are stretched thin. By leveraging this complete RU solution with comprehensive collateral resources, designers can focus on innovation, enabling their companies to compete for more RU design opportunities. + +The ADRV904x-RD O-RU reference design platform includes ADI’s fifth generation 8T8R RadioVerse® SoC with advanced digital front end including field proven digital pre-distortion (DPD). ADI’s fully featured, commercial O-RAN 7.2a IP Stack is hosted on Intel’s Agilex 7 F-series FPGA, delivering superior performance/watt. The platform has been tested with Radisys® Layer 2/3 software running on Intel FlexRan server hardware for 8T8R macro deployment scenarios. + +“The design resources required to complete advanced RU designs are significant. ADI, together with Intel and Radisys, is enabling a more robust O-RAN ecosystem by offering a complete RU design platform with confirmed interoperability. We are pleased to work together with Intel and Radisys to accelerate Open RAN’s potential,” said Joe Barry, Vice President of Marketing, Systems & Technology in the Communication and Cloud Business Unit at ADI. + +“In the radio market, customers need the ability to build cutting edge systems that fit the dynamic standards we see today. ADI’s ADRV904x-RD O-RU complements our high performance Agilex 7 F-series FPGA in achieving this goal. Our broad silicon portfolio, in combination with ADI’s fifth generation 8T8R RadioVerse SoC with DFE, enables customers to accommodate a broad set of applications with differentiating feature sets,” said Mike Fitton, VP and GM of Intel’s Network Business Division. + +“Radisys is pleased to continue the collaboration with Intel and ADI to provide our award winning, Release 17 compliant, Connect RAN 5G software. Ease of integration and performance benchmarking with this advanced open radio design is an important step towards unlocking the full potential of Open RAN,” said Munish Chhabra, SVP and General Manager, Software and Services at Radisys. + +Visit ADI's O-RU Radio Platform web page for details. The interoperability proven platform with fully functional end to end calls is on display at Mobile World Congress (MWC) within ADI’s booth (Hall 2, 2B18). For more information, visit ADI's MWC 2023 web page. + +About Analog Devices + +Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With revenue of more than $12 billion in FY22 and approximately 25,000 people globally working alongside 125,000 global customers, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and Twitter. + +All trademarks and registered trademarks are the property of their respective owners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230227005005/en/ \ No newline at end of file diff --git a/news/ADP/2023.01.03/Employee Experience Propels Workplace Transformation in 2023.txt b/news/ADP/2023.01.03/Employee Experience Propels Workplace Transformation in 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..5c2d912d640ab1d07165d402b345ec1839e1d39c --- /dev/null +++ b/news/ADP/2023.01.03/Employee Experience Propels Workplace Transformation in 2023.txt @@ -0,0 +1,29 @@ + + +ADP experts share key themes driving the rapid evolution of HR technology +ROSELAND, N.J., Jan. 3, 2023 /PRNewswire/ -- Innovation at work is gaining greater momentum, as employee experience emerges as a defining priority of employers in 2023. Work's transformation over the past few years has been marked by speed and urgency, which remain consistent variables influencing the road ahead. Shifts in the labor market and global economy have demanded a level of adaptability that's now become table stakes for employers. Employee expectations have shifted too – permanently – as workers rethink their priorities. This heightened focus on employee experience is influencing the way employers approach talent challenges in real-time, making the future of work even more fluid. To help businesses navigate forward, ADP experts highlight guidance, resources, and solutions focused on addressing the key themes shaping work's evolution in 2023. +  +Dig deeper into what's shaping HR tech's transformation +"Work this year will be about...delivering an employee experience that integrates people's full lives.""Work has always been about people, and people aren't static," said Sreeni Kutam, president of global product and innovation at ADP. "Their lives are continuously in motion, shaping the needs and the expectations they have of their employers. Work this year will be about listening and responding to those needs with greater urgency and delivering an employee experience that integrates people's full lives. That experience starts with recruitment and hiring, but it spans career growth and development, workplace experience, and health and wellbeing. At ADP we're focused on addressing these trends by tapping into data and providing intuitive and personalized tools that will help employers build meaningful connections with their people." +Key Drivers Shaping the World of Work +People are forever changed and want work to be personal.It's not about leading by the rule, but rather the exception. The pandemic permanently shifted traditional expectations of the workplace, as workers – driven by social and economic stressors – have begun to rethink the notion of job security and how work fits into their lives. The resulting shifts in employee sentiment have left employers to navigate new expectations of flexibility, career choices and job roles, and purpose. In fact, according to ADP research, 76 percent of workers across all ages, income and education levels wanted earned wage access. Going forward, the tools people use at work will be more personalized, with employers leveraging offerings from personalized pay options like earned wage access to tailored career profiles to enrich the employee experience they deliver and drive talent engagement. +People are providing real-time feedback, expecting a real-time response.With the world constantly changing and largely digitalized, people have come to expect immediacy. When issues arise, they expect a swift and thorough response. Employee listening is a rising trend, with companies deploying survey tools and other real-time listening posts to tap into what's on their workers' minds so they can react and address feedback quickly. In fact, in a recent internal survey of ADP clients, employee survey capabilities surfaced as one of the top three priorities for HR practitioners. To respond meaningfully in real-time, it will be important for employers to leverage data-driven technologies to ensure they're asking the right questions at the right moments. +People are empowered by data and expect transparency.With data readily available, there's greater expectations for companies to leverage it for good. With evolving legislation and compliance considerations around pay transparency and data privacy, employers will need to consider how data can impact their workforce. This includes a heightened focus on closing pay equity gaps and driving progress in diversity, equity, and inclusion. Since its launch, 70 percent of companies leveraging ADP's Pay Equity Storyboard have shown improvement in pay equity, returning an average of $4,000 or more in additional pay to over 400,000 workers deemed to be below benchmark from a pay equity perspective, for a cumulative impact of over $1.6 billion returned to communities. To continue driving progress, employers will need to tap into solutions that can provide benchmarks and insights continuously updated to reflect market trends, help them craft an action plan, and monitor for improvement. +People want to work differently, demanding employers find innovative solutions.Having honed the ability to adapt over the past few years, employees expect new approaches from employers on how work gets done and how they can advance in their career journeys. Actively looking to grow, employees complete 29M learning courses through ADP each year. These expectations demand that employers graduate from embracing change to driving it within their organizations. Looking ahead, employers will need to explore ways to cultivate talent and unlock innovation at work, including AI-driven career pathing technologies to mine internal talent for development opportunities, prescriptive learning recommendations, and insights-driven team leader coaching to help employees stretch and develop needed skills. +For more information on key drivers impacting the workforce in 2023, please register for our upcoming webinar here. +About ADP (NASDAQ: ADP)Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential.  HR, Talent, Time Management, Benefits and Payroll.  Informed by data and designed for people.  Learn more at ADP.com +ADP, the ADP logo, and Always Designing for People, are trademarks of ADP, Inc. All other marks are the property of their respective owners. +Copyright © 2023 ADP, Inc.  All rights reserved. + + + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/employee-experience-propels-workplace-transformation-in-2023-301712313.html +SOURCE ADP, Inc. + + diff --git a/news/ADP/2023.01.05/Adp National Employment Report : Private Sector Employment Increased by 235,000 Jobs in De...txt b/news/ADP/2023.01.05/Adp National Employment Report : Private Sector Employment Increased by 235,000 Jobs in De...txt new file mode 100644 index 0000000000000000000000000000000000000000..86f7cbead10ed5ed2cc08b93b4e141f97d8eab78 --- /dev/null +++ b/news/ADP/2023.01.05/Adp National Employment Report : Private Sector Employment Increased by 235,000 Jobs in De...txt @@ -0,0 +1,56 @@ + + +ROSELAND, N.J., Jan. 5, 2023 /PRNewswire/ -- Private sector employment increased by 235,000 jobs in December and annual pay was up 7.3 percent year-over-year, according to the December ADP® National Employment Report™ produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab ("Stanford Lab"). +The jobs report and pay insights use ADP's fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market. The report details the current month's total private employment change, and weekly job data from the previous month. ADP's pay measure uniquely captures the earnings of a cohort of almost 10 million employees over a 12-month period. +"The labor market is strong but fragmented, with hiring varying sharply by industry and establishment size," said Nela Richardson, chief economist, ADP. "Business segments that hired aggressively in the first half of 2022 have slowed hiring and in some cases cut jobs in the last month of the year." +December 2022 Report Highlights*View the ADP National Employment Report and interactive charts at www.adpemploymentreport.com. +Jobs ReportPrivate employers added 235,000 jobs in DecemberJob resurgence was seen in the last two months of 2022 led by consumer-facing service industries. Hiring was strong across small and medium establishments while large establishments saw a drop in employment of 151,000 jobs. +Change in U.S. Private Employment:     235,000 +Change by Industry Sector +- Goods-producing:     22,000 +Natural resources/mining     -14,000Construction     41,000Manufacturing     -5,000- Service-providing:     213,000 +Trade/transportation/utilities     -24,000Information     1,000Financial activities     -12,000Professional/business services     52,000Education/health services     42,000Leisure/hospitality     123,000Other services     31,000Change by U.S. Regions +- Northeast:     54,000 +New England     2,000Middle Atlantic     52,000- Midwest:     70,000 +East North Central     61,000West North Central     9,000- South:     253,000 +South Atlantic     165,000East South Central     19,000West South Central     69,000- West:     -142,000 +Mountain     -119,000Pacific     -23,000Change by Establishment Size +- Small establishments:     195,000 +1-19 employees     65,00020-49 employees     130,000- Medium establishments:     191,000 +50-249 employees     159,000250-499 employees     32,000- Large establishments:     -151,000 +500+ employees     -151,000Pay Insights December saw the lowest pay growth since March 2022December ushered in the largest decline in pay growth for job stayers in the three-year series history. Leisure and hospitality; trade, transportation and utilities; and information sectors had the sharpest declines in pay gains. Job changers' pay growth also fell to the lowest level in 10 months. +Median Change in Annual Pay (ADP matched person sample) +- Job-Stayers     7.3% +- Job-Changers     15.2% +Median Change in Annual Pay for Job-Stayers by Industry Sector +- Goods-producing:                                                        +Natural resources/mining     7.8%Construction     6.9%Manufacturing     7.3%- Service-providing:                                                +Trade/transportation/utilities     7.5%Information     7.0%Financial activities     7.5%Professional/business services     6.6%Education/health services     7.0%Leisure/hospitality     10.1%Other services     6.7%Median Change in Annual Pay for Job-Stayers by Firm Size +- Small firms:                                                                 +1-19 employees     5.4%20-49 employees     6.9%- Medium firms:                                                              +50-249 employees     7.6%250-499 employees     7.6%- Large firms:                                                                 +500+ employees     7.7%To see Pay Insights by U.S. State, Gender, and Age for Job-Stayers, visit here: +* Sum of components may not equal total, due to rounding. +The historical data file, and weekly data for the previous month, is available at https://adpemploymentreport.com/. +To subscribe to monthly email alerts or obtain additional information about the ADP National Employment Report, including employment and pay data, interactive charts, methodology, and a calendar of release dates, please visit https://adpemploymentreport.com/.     +The January 2023 ADP National Employment Report will be released at 8:15 a.m. ET on February 1, 2023. +About the ADP® National Employment Report™The ADP National Employment Report is an independent estimate of the change in U.S. private employment and pay derived from actual, anonymized payroll data of client companies served by ADP, a leading provider of human capital management solutions. The report is produced by ADP Research Institute in collaboration with the Stanford Digital Economy Lab. +The ADP National Employment Report is broadly distributed to the public each month, free of charge, as part of the company's commitment to offering deeper insights of the U.S. labor market and providing businesses and governments with a source of credible and valuable information. +About the ADP Research Institute® The ADP Research Institute delivers data-driven discoveries about the world of work and derives reliable economic indicators from these insights. We offer these findings as a unique contribution to making the world of work better and more productive by delivering actionable insights to the economy at large. +About ADP (NASDAQ – ADP)Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential.  HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people.   Learn more at ADP.com +ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research Institute are registered trademarks of ADP, Inc. All other marks are the property of their respective owners. +Copyright © 2023 ADP, Inc. All rights reserved. +ADP-Media + +  + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/adp-national-employment-report-private-sector-employment-increased-by-235-000-jobs-in-december-annual-pay-was-up-7-3-301714516.html +SOURCE ADP, Inc. + + diff --git a/news/ADP/2023.01.05/Mib down slightly, down utilities and up oil.txt b/news/ADP/2023.01.05/Mib down slightly, down utilities and up oil.txt new file mode 100644 index 0000000000000000000000000000000000000000..e76cb78de0aa7b46112feafe65100770c387ef92 --- /dev/null +++ b/news/ADP/2023.01.05/Mib down slightly, down utilities and up oil.txt @@ -0,0 +1 @@ +(Alliance News) - Piazza Affari closed slightly lower on Thursday, the day after the release of the minutes of the Federal Reserve's latest FOMC meeting and after Istat reported that inflation in Italy slowed only marginally year-on-year in December, to 11.6 percent from 11.8 percent in November.Of note is the dollar's significant jump against other major currencies--euro and pound sterling above all--after today's ADP data.U.S. private businesses created 235,000 jobs in December 2022, well above market forecasts of 150,000, according to data from Automatic Data Processing on Thursday. Service providers added 213,000 jobs, led by the leisure and hospitality, professional and business services, and education and health services sectors. The goods-producing sector increased by 22,000, led by construction with 41,000 place.For Chris Beauchamp, chief analyst at IG, "the dollar is looking for a reason to strengthen, since yesterday's Fed minutes provided nothing new. Today's ADP payrolls report, which shattered expectations and indicated signs of strong wage growth, was just the ticket for a rally, although a rally of more than a few days will need much stronger data as the Fed's tightening is expected to reach its apogee in the coming months."After the data, the euro changed hands at USD1.0525 versus USD1.0619 at Wednesday's close. In contrast, the pound is worth USD1.1897 from USD1.2048 last night.The FTSE Mib closed down 0.1 percent to 24,832.70, the Mid-Cap lost 0.1 percent to 40,614.78, the Small-Cap fell slightly to 28,288.48, and Italy Growth finished the session down 0.1 percent to 9,390.35.In Europe, London's FTSE 100 rose 0.6 percent, Paris' CAC 40 closed down 0.2 percent and Frankfurt's DAX 40 gave up 0.3 percent.On the mostly bearish main list of Piazza Affari, oils recovered as Brent crude rose and slowly approached USD80 a barrel. Tenaris rises 2.9%. Also doing well are Saipem, up 0.4 percent, and Eni, up 0.2 percent.ERG gives up 1.6.% as does Snam after the latter reported Tuesday that natural gas stocks as of Dec. 31, 2022 in its subsidiary Stogit's storage facilities amount to 9.3 billion cubic meters, to which 4.5 billion cubic meters of strategic storage must be added.This is about 2.6 billion more than the stock of 6.7 billion cubic meters recorded at the end of December 2021.Stellantis, up 1.0 percent, said Thursday that it will "significantly expand" its partnership with Archer Aviation -- a California-based company that markets electric vertical takeoff and landing aircraft -- after joining forces to produce Archer's Midnight eVTOL aircraft.Stellantis also agreed to provide up to USD150 million in equity for a potential drawdown by Archer, at its discretion, in 2023 and 2024.Hera lost 3.4 percent after announcing Thursday EUR150 million in district heating investments over the 2023-2026 period.Of these, three Hera Group projects dedicated to district heating -- in Bologna, Ferrara, and Forlì -- were awarded funding under the National Recovery and Resilience Plan, mission "Green Revolution and Ecological Transition," totaling nearly EUR50 million.Terna gave up 1.9 percent after signing an agreement to acquire 100 percent of the capital of Edyna Transmission, an Alperia Group company dedicated to the transmission sector, which owns 34 km of high-voltage power lines and two power stations in South Tyrol.The assets are already part of the national electricity transmission grid and were taken over by Terna for a total value of about EUR14 million. The deal is subject to the fulfillment of certain conditions precedent. Moncler, meanwhile, rose 0.4 percent, with Bernstein raising the target price to EUR60.00 from EUR54.00.On the Mid-Cap, Industrie De Nora remains in the upper quarters, up 1.7 percent.Piaggio, up 2.6 percent, and Saras, which, like the other oil-related companies on the Mib, is following a bullish trend, up 2.7 percent.PharmaNutra is down 0.5 percent. The company announced the signing of three new international commercial agreements for the distribution of products from the SiderAL® and Cetilar® lines in the Indonesian Republic, Kuwait, and Mexico.With the signing of these new contracts, the PharmaNutra Group currently has 47 distributors in 70 countries across Europe, Asia, Latin America and Africa.Webuild lost 0.5 percent. On Monday, it announced that in the week of Dec. 28-30, 2022, inclusive, it bought back 40,500 of its own common shares.On the Small-Cap, BasicNet gained 0.5 percent. The company disclosed Friday that it purchased 16,500 shares of its own common stock between Dec. 27 and Dec. 30. As of today, the company holds 3.9 million treasury shares, or 7.2 percent of its share capital.Civitanavi Systems rose 1.3 percent. The company announced that it has signed a ruling agreement with the Internal Revenue Service that will allow the company to have access to the Patent Box tax benefit for intellectual property for patents and know-how.The tax benefit for the five-year period 2017-2021 will be accounted for in the fiscal year 2022 and the quantification will take place when the financial statements are prepared.Among SMEs, Clabo gained 22 percent after being suspended for excess volatility for most of the session and after it announced on Wednesday that its U.S. subsidiary Howard McCray has concluded two commercial agreements worth a total of USD750,000, or EUR710,000, with 2 retail chains operating within the HoReCa channel.The two trade agreements refer to deliveries to be made in the year 2023 regarding products in the "Dairy - Multipurpose" line.Circle rose 1.1 percent. On Monday, the company announced that it has signed a new contract through the Log@Sea business network to supply advanced Gate Automation solutions to a leading Tyrrhenian multipurpose terminal."The order, the value of which exceeds EUR145,000, involves the implementation of a complete project of specialized hardware components and Milos software for the management of gate access control procedures for vehicles and Intermodal Transport Units. The topical moment and market confidence in the solutions behind our Connect 4 Agile Growth plan are confirmed," explained president and CEO, Luca Abatello.Pharmacosmo closed up 1.5 percent. The company reported Wednesday that CEO Fabio de Concilio bought more than 26,500 shares of the company's common stock.In New York, the Dow is down 1.0 percent to 32,935.04, the Nasdaq gives up 1.2 percent to 10,337.17 and the S&P 500 is down 1.0 percent to 3,814.51.Among commodities, Brent crude is worth USD78.14 per barrel from USD78.34 per barrel last night. Gold, on the other hand, trades at USD1,826.70 an ounce from USD1,865.60 an ounce Wednesday night.Friday's macro calendar opens with Japan's services PMI, due at 0130 CET, followed by Germany's factory orders at 0800 CET, coming 45 minutes before France's consumer spending and asset reserve numbers.At 1030 CET, room for the U.K. construction PMI, half an hour before consumer and business confidence, retail sales, and Eurozone inflation.From the US, focus on December nonfarm payrolls, coming at 1430 CET, at the same time as the unemployment rate. At 1600 CET, it will be the turn of factory orders and durable goods data. At 1900 CET, close the day with Baker Hughes drilling rig data.Among companies in the Piazza Affari, no particular major events are expected.By Giuseppe Fabio Ciccomascolo, Alliance News senior reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/ADP/2023.01.11/ADP Declares Regular Quarterly Dividend.txt b/news/ADP/2023.01.11/ADP Declares Regular Quarterly Dividend.txt new file mode 100644 index 0000000000000000000000000000000000000000..d4cae5f0f1b9e8000f04c8465d287c41feeba239 --- /dev/null +++ b/news/ADP/2023.01.11/ADP Declares Regular Quarterly Dividend.txt @@ -0,0 +1,23 @@ + + +ROSELAND, N.J., Jan. 11, 2023 /PRNewswire/ -- The board of directors of Automatic Data Processing, Inc. (Nasdaq: ADP) has declared a regular quarterly dividend of $1.25 per share payable April 1, 2023 to shareholders of record on March 10, 2023. + + + + + + + +About ADP (NASDAQ – ADP) Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential.  HR, Talent, Time Management, Benefits and Payroll.  Informed by data and designed for people.  Learn more at ADP.com +ADP, the ADP logo, and Always Designing for People are trademarks of ADP, Inc. All other marks are the property of their respective owners.  +Copyright © 2023 ADP, Inc. All rights reserved. +ADP-Media +Allyce Hackmann 201.400.4583 Allyce.Hackmann@adp.com +ADP-Investor Relations +Contact: ADP Investor Relations 973.974.5858 Investor.Mail@ADP.com + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/adp-declares-regular-quarterly-dividend-301719509.html +SOURCE ADP - IR + + diff --git a/news/ADP/2023.01.25/ADP Reports Second Quarter Fiscal 2023 Results.txt b/news/ADP/2023.01.25/ADP Reports Second Quarter Fiscal 2023 Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..f3fdd7721475db97e144573a9aba36c8a9f11825 --- /dev/null +++ b/news/ADP/2023.01.25/ADP Reports Second Quarter Fiscal 2023 Results.txt @@ -0,0 +1,28 @@ + + +ROSELAND, N.J., Jan. 25, 2023 /PRNewswire/ -- ADP (Nasdaq: ADP), a leading global technology company providing human capital management (HCM) solutions, today announced its second quarter fiscal 2023 financial results along with its revised fiscal 2023 outlook through an earnings release available on the company's website at investors.adp.com/events-and-presentations. This earnings release will also be furnished to the Securities and Exchange Commission (SEC) on a Current Report on Form 8-K and available at sec.gov. + + + + + + + +As previously announced, ADP will host a conference call for financial analysts today, Wednesday, January 25, 2023 at 8:30 a.m. ET. The conference call will be webcast live on ADP's website at investors.adp.com and will be available for replay following the call. A slide presentation accompanying the webcast is also available at investors.adp.com/events-and-presentations. +Supplemental financial information including schedules of quarterly and full year reportable segment revenues and earnings for fiscal years 2021, 2022, and 2023 are posted to ADP's website at investors.adp.com. ADP news releases, current financial information, SEC filings and Investor Relations presentations are accessible at the same website. +About ADP (Nasdaq: ADP)Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. Learn more at ADP.com. +ADP, the ADP logo, and Always Designing for People are trademarks of ADP, Inc. +Copyright © 2023 ADP, Inc. All rights reserved. +ADP-Investor Relations +Investor Relations Contacts: +Danyal Hussain, CFA973.974.7836Danyal.Hussain@adp.com  +Matthew Keating, CFA973.974.3037Matthew.Keating@adp.com  +ADP-Media +Media Contact:Allyce Hackmann201.400.4583Allyce.Hackmann@adp.com  +Source: Automatic Data Processing, Inc. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/adp-reports-second-quarter-fiscal-2023-results-301729861.html +SOURCE ADP - IR + + diff --git a/news/ADP/2023.01.25/Adp : Fiscal Q2 Earnings Snapshot.txt b/news/ADP/2023.01.25/Adp : Fiscal Q2 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..3fa319bfc26b762d55198fec53e7d5701dbceb36 --- /dev/null +++ b/news/ADP/2023.01.25/Adp : Fiscal Q2 Earnings Snapshot.txt @@ -0,0 +1 @@ +ROSELAND, N.J. (AP) _ Automatic Data Processing Inc. (ADP) on Wednesday reported fiscal second-quarter net income of $813.1 million.On a per-share basis, the Roseland, New Jersey-based company said it had profit of $1.95. Earnings, adjusted for one-time gains and costs, were $1.96 per share.The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.95 per share.The payroll and human resources company posted revenue of $4.39 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $4.38 billion.ADP shares have increased slightly since the beginning of the year, while the S&P's 500 index has decreased 16%. The stock has climbed nearly 10% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADP at https://www.zacks.com/ap/ADPCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/ADP/2023.01.25/Automatic Data Processing : ADP Earnings Call & Webcast Q2 Fiscal 2023.txt b/news/ADP/2023.01.25/Automatic Data Processing : ADP Earnings Call & Webcast Q2 Fiscal 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..d03841f40367c3eaa8f1d3b798ebc38b50bb077d --- /dev/null +++ b/news/ADP/2023.01.25/Automatic Data Processing : ADP Earnings Call & Webcast Q2 Fiscal 2023.txt @@ -0,0 +1,580 @@ + + + + ADP Earnings Call & Webcast + + + Q2 Fiscal 2023 + + + January 25, 2023 + + + Copyright © 2023 ADP, Inc. + + + + + + Forward Looking Statements + + + This document and other written or oral statements made from time to time by ADP may contain "forward-looking statements" within the meaning of the Private + + + Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words like "outlook," "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could," "is designed to" and other words of similar meaning, are forward-looking statements. These statements are based on management's expectations and assumptions and depend upon or refer to future events or conditions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements or that could contribute to such difference include: ADP's success in obtaining and retaining clients, and selling additional services to clients; the pricing of products and services; the success of our new solutions; compliance with existing or new legislation or regulations; changes in, or interpretations of, existing legislation or regulations; overall market, political and economic conditions, including interest rate and foreign currency trends and inflation; competitive conditions; our ability to maintain our current credit ratings and the impact on our funding costs and profitability; security or cyber breaches, fraudulent acts, and system interruptions and failures; employment and wage levels; changes in technology; availability of skilled associates; the impact of new acquisitions and divestitures; the adequacy, effectiveness and success of our business transformation initiatives; the impact of any uncertainties related to major natural disasters or catastrophic events, including the COVID-19 pandemic; and supply-chain disruptions. ADP disclaims any obligation to update any forward- looking statements, whether as a result of new information, future events or otherwise, except as required by law. These risks and uncertainties, along with the risk factors discussed under "Item 1A. Risk Factors" of our most recent Annual Report on Form 10-K, and in other written or oral statements made from time to time by ADP, should be considered in evaluating any forward-looking statements contained herein. + + + Non-GAAP Measures + + + Adjusted EBIT, adjusted EBIT margin, adjusted diluted earnings per share, adjusted effective tax rate, and organic constant currency are all non-GAAP financial measures. Please refer to the Q2 fiscal 2023 earnings release available at investors.adp.com for a discussion of why ADP believes these measures are important and for a reconciliation of non-GAAP financial measures to their closest comparable GAAP financial measures. + + + This presentation is a supplement to our Q2 fiscal 2023 earnings release; it is intended to be read in conjunction with, not as a substitute for, or in isolation from, the earnings release. + + + 2 + + + + + Copyright © 2023 ADP, Inc. + + + + + + + Highlights and Perspective + + + +Healthy momentum continued in Q2: + + + + +Revenue increase of 9%, adjusted EBIT margin (a) increase of 120 basis points, and adjusted diluted EPS (a) growth of 19% + + +Strong ES new business bookings growth + + +ES retention improved year-over-year to a near-record level for the quarter + + +U.S. pays per control growth of 5% indicative of a continued healthy labor market + + + + +PEO average worksite employee growth decelerated; demand remains healthy; well-positioned to re-accelerate worksite employee growth + + +Continued progress on ADP's "Modernization Journey" + + + + +For a reconciliation of these non-GAAP financial metrics to their closest comparable GAAP metrics see our Q2 fiscal 2023 earnings release available at investors.adp.com. + + + + + + 3 + + + + + + + Q2 Fiscal 2023 Financial Highlights + + + (unaudited) + + + + + + Total Revenues + + + + + Adjusted EBIT (a) + + + + + Adjusted Diluted EPS (a) + + + + + + + + + h 9% + + + + +h 15% + + + + +h 19% + + + + + + +h 10% Organic Constant Currency (a) + + + + + Adjusted EBIT (a) Margin h 120 bps + + + + + + + + + + + + + $4,391M + + + + + + + $1,069M + + + + + + + $1.96 + + + + + + + $4,025M + + + + + $930M + + + + + + + + + + + + + + + $1.65 + + + + + + + + + + + + + + + + + + + + + Q2 FY22 + + + + + Q2 FY23 + + + + + Q2 FY22 + + + + + Q2 FY23 + + + + + Q2 FY22 + + + + + Q2 FY23 + + + + + + + (a) For a reconciliation of these non-GAAP financial metrics to their closest comparable GAAP metrics see our Q2 fiscal 2023 earnings release available at investors.adp.com. + + + + + + + 4 + + + + + + + + + + + + + + + + + + + + Copyright © 2023 ADP, Inc. + + + + + + + Q2 Fiscal 2023 Employer Services Segment Results + + + (unaudited) + + + + + + ES Revenues + + + + + + + + ES Margin + + + + + Q2 Highlights + + + + + + + + + + +8% + + + + +10% Organic Constant Currency (a) + + + + + + + $2,671M + + + + + $2,892M + + + + + + + + + + + Q2 FY22 + + + + + Q2 FY23 + + + + + + +U.S. pays per control h 5% + + +Average client funds balances h 4% + + +Average client funds yield of 2.2%, up from 1.3% in prior year + + + + + + +170 bps + + + + + + + 30.6% + + + + + 32.3% + + + + + + + + + + + Q2 FY22 + + + + + Q2 FY23 + + + + + + +Margin expansion driven by operating leverage and growth in client funds interest revenue + + + + + + +Revenue growth supported by strong bookings, retention gains, continued strong pays per control growth, and higher client funds interest revenue + + + + FY23 ES Outlook + + + + + + + + Prior + + + + + Current + + + + + + + + + + + + + + + Revenues + + + + + 7 to 8% + + + + + 8 to 9% + + + + + + + Margin + + + + + 200 to 225 bps + + + + + 200 to 225 bps + + + + + + + ES New Business Bookings + + + + + 6 to 9% + + + + + 6 to 9% + + + + + + + Client Revenue Retention + + + + + (50) to (25) bps + + + + + (30) to (20) bps + + + + + + + U. S. Pays Per Control + + + + + 2 to 3% + + + + + 3 to 4% + + + + + + + + + + + + + + + + + + + + (a) For a reconciliation of this non-GAAP financial metric to its closest comparable GAAP metric see our Q2 fiscal 2023 earnings release available at investors.adp.com. + + + + + 5 + + + + + + + + + + + + Copyright © 2023 ADP, Inc. + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +ADP - Automatic Data Processing Inc. published this content on 25 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2023 12:27:01 UTC. + + diff --git a/news/ADP/2023.01.25/Automatic Data Processing : ADP Reports Second Quarter Fiscal 2023 Results - Form 8-K.txt b/news/ADP/2023.01.25/Automatic Data Processing : ADP Reports Second Quarter Fiscal 2023 Results - Form 8-K.txt new file mode 100644 index 0000000000000000000000000000000000000000..632ebff16069b31da9f4f8679ed9ac95bc2db073 --- /dev/null +++ b/news/ADP/2023.01.25/Automatic Data Processing : ADP Reports Second Quarter Fiscal 2023 Results - Form 8-K.txt @@ -0,0 +1,5427 @@ + + + ADP Reports Second Quarter Fiscal 2023 Results + + + •Revenues increased 9% compared to last year's second quarter to $4.4 billion; 10% organic constant currency + + + •Net earnings increased 17% to $813 million, and adjusted net earnings increased 17% to $815 million + + + •Adjusted EBIT increased 15% to $1.1 billion, and adjusted EBIT margin increased 120 basis points to 24.3% + + + •Diluted earnings per share ("EPS") increased 18% to $1.95; adjusted diluted EPS increased 19% to $1.96 + + + •Maintaining full year guidance for 8% to 9% revenue growth and 15% to 17% adjusted diluted EPS growth + + + + + + ROSELAND, N.J. - January 25, 2023- ADP (Nasdaq: ADP), a leading global technology company providing human capital management (HCM) solutions, today announced its second quarter fiscal 2023 financial results and updated its fiscal 2023 outlook. + + + Second Quarter Fiscal 2023 Consolidated Results + + + Compared to last year's second quarter, revenues increased 9% to $4.4 billion and 10% on an organic constant currency basis. Net earnings increased 17% to $813 million, and adjusted net earnings increased 17% to $815 million. Adjusted EBIT increased 15% to $1.1 billion, representing an adjusted EBIT margin increase of 120 basis points in the quarter to 24.3%. ADP's effective tax rate for the quarter was 23.2% on a reported and an adjusted basis. Diluted EPS increased 18% to $1.95, and adjusted diluted EPS increased 19% to $1.96. + + + "Our healthy momentum from earlier in the year continued into our second quarter with strong revenue growth, margin expansion, and adjusted EPS growth," said Maria Black, President and Chief Executive Officer, ADP. "As businesses continue to navigate the uncertainty of today's macroeconomic environment, we remain focused on listening to our clients' needs and delivering the solutions that will enable their success. I am proud of our dedicated associates who deliver on ADP's mission each day and always strive to put the client at the center of every decision." + + + "With strong results in new business bookings, client revenue retention, and U.S. pays per control growth as well as a continued healthy HCM demand backdrop, we are well-positioned to continue our growth across the balance of the year," said Don McGuire, Chief Financial Officer, ADP. "We remain committed to delivering against our profitability commitments while we invest in our people, products, and processes to ensure a strong foundation for sustainable future growth." + + + + + + 1 + + + + + + Adjusted EBIT, adjusted EBIT margin, adjusted net earnings, adjusted diluted earnings per share, adjusted effective tax rate and organic constant currency are all non-GAAP financial measures. Please refer to the accompanying financial tables at the end of this release for a discussion of why ADP believes these measures are important and for a reconciliation of non-GAAP financial measures to their closest comparable GAAP financial measures. + + + + + + Second Quarter Segment Results + + + Employer Services - Employer Services offers a comprehensive range of global HCM and Human Resources Outsourcing solutions. Compared to last year's second quarter: + + + •Employer Services revenues increased 8% on a reported basis and 10% on an organic constant currency basis + + + •U.S. pays per control increased 5% + + + •Employer Services segment margin increased 170 basis points + + + + + + PEO Services - PEO Services provides comprehensive employment administration outsourcing solutions. Compared to last year's second quarter: + + + •PEO Services revenues increased 11% + + + •PEO Services revenues excluding zero-margin benefits pass-throughs increased 13% + + + •Average worksite employees paid by PEO Services increased 8% to about 711,000 + + + •PEO Services segment margin increased 130 basis points + + + + + + Included within the results of our segments above: + + + Interest on Funds Held for Clients - The safety, liquidity, and diversification of ADP clients' funds are the foremost objectives of the Company's investment strategy. Client funds are invested in accordance with ADP's prudent and conservative investment guidelines, and most of the investment portfolio is rated AAA/AA. Compared to last year's second quarter: + + + •Interest on funds held for clients increased 77% to $187 million + + + •Average client funds balances increased 4% to $33.4 billion + + + •The average interest yield on client funds increased 90 basis points to 2.2% + + + 2 + + + + + + Fiscal 2023 Outlook + + + Certain components of ADP's fiscal 2023 outlook and related growth comparisons exclude the impact of the following items and are discussed on an adjusted basis where applicable. Please refer to the accompanying financial tables for a reconciliation of these adjusted amounts to their closest comparable GAAP measure. + + + •Fiscal 2022 pre-tax charges of about $4 million related to transformation initiatives + + + •Fiscal 2023 expected pre-tax charges of about $5 million related to transformation initiatives + + + •Fiscal 2023 pre-tax gain of about $4 million related to legal settlements + + + Consolidated Fiscal 2023 Outlook + + + •Revenue growth of 8% to 9% + + + •Adjusted EBIT margin expansion of 125 to 150 basis points + + + •Adjusted effective tax rate of approximately 23.0% + + + •Diluted EPS growth of 15% to 17% + + + •Adjusted diluted EPS growth of 15% to 17% + + + Employer Services Segment Fiscal 2023 Outlook + + + •Employer Services revenue growth of 8% to 9% + + + •Employer Services margin expansion of 200 to 225 basis points + + + •Employer Services new business bookings growth of 6% to 9% + + + •Employer Services client revenue retention decrease of 30 to 20 basis points + + + •Increase in U.S. pays per control of 3% to 4% + + + PEO Services Segment Fiscal 2023 Outlook + + + •PEO Services revenue growth of 8% to 9% + + + •PEO Services revenue, excluding zero-margin benefits pass-throughs, growth of 9% to 10% + + + •PEO Services margin of flat to up 25 basis points + + + •PEO Services average worksite employee count growth of 6% to 7% + + + Client Funds Extended Investment Strategy Fiscal 2023 Outlook + + + The interest assumptions in our outlook are based on Fed Funds futures contracts and various forward yield curves as of January 24, 2023. The Fed Funds futures contracts are used in the client short and corporate cash interest income outlook. A combination of various forward yield curves that reflect our investment mix, resulting in a blended rate of 4.1%, was used to forecast new purchase rates across the client and corporate extended and client long portfolios over the remainder of the fiscal year. + + + + + + •Interest on funds held for clients of $790 to $800 million; this is based on anticipated growth in client funds balances of 4% to 5% and an average yield that is anticipated to increase to 2.4% + + + •Total contribution from the client funds extended investment strategy of $710 to $720 million + + + + + + 3 + + + + + + Fiscal 2023 Outlook + + + + + + + + + + + Fiscal 2022 + + + (unaudited) + + + + October 26, 2022 + Fiscal 2023 Outlook (a) + + + January 25, 2023 + Fiscal 2023 Outlook (a) + + + + + Total ADP + + + Revenues + + + $16,498M + + + 8 to 9% + + + 8 to 9% + + + + + Adj. EBIT Margin + + + 23.5% + + + 125 to 150 bps + + + 125 to 150 bps + + + + + Adj. Effective Tax Rate + + + 22.5% + + + ~23% + + + ~23% + + + + + Adj. Diluted EPS + + + $7.01 + + + 15 to 17% + + + 15 to 17% + + + + + Employer Services + + + Revenues + + + $10,968M + + + 7 to 8% + + + 8 to 9% + + + + + Margin + + + 31.1% + + + 200 to 225 bps + + + 200 to 225 bps + + + + + ES New Business Bookings + + + $1.7B + + + 6 to 9% + + + 6 to 9% + + + + + Client Revenue Retention + + + 92.1% + + + (50) to (25) bps + + + (30) to (20) bps + + + + + U.S. Pays Per Control + + + 7% + + + 2 to 3% + + + 3 to 4% + + + + + PEO Services + + + Revenues + + + $5,546M + + + 10 to 12% + + + 8 to 9% + + + + + Revenues Ex Zero-Margin Pass-throughs + + + $2,031M + + + 10 to 12% + + + 9 to 10% + + + + + Margin + + + 15.7% + + + Flat to up 25 bps + + + Flat to up 25 bps + + + + + Average WSEs + + + 670,000 + + + 8 to 10% + + + 6 to 7% + + + + + Client Funds Interest + + + Average Client Funds Balances + + + $32.5B + + + 4 to 6% + + + 4 to 5% + + + + + Yield on Client Funds Portfolio + + + 1.4% + + + ~2.4% + + + ~2.4% + + + + + Client Funds Interest Revenue + + + $452M + + + $790 to $810M + + + $790 to $800M + + + + + Net Impact from Client Funds Extended Strategy + + + $475M + + + $720 to $740M + + + $710 to $720M + + + + + + (a) Outlook contemplates the impact of foreign currency in revenue and operating results. + + + + + + Investor Webcast Today + + + As previously announced, ADP will host a conference call for financial analysts today, Wednesday, January 25, 2023 at 8:30 a.m. ET. The conference call will be webcast live on ADP's website at investors.adp.com and will be available for replay following the call. A slide presentation accompanying the webcast is also available at investors.adp.com/events-and-presentations. + + + + + + Supplemental financial information including schedules of quarterly and full year reportable segment revenues and earnings for fiscal years 2021, 2022, and 2023 are posted to ADP's website at investors.adp.com. ADP news releases, current financial information, SEC filings, and Investor Relations presentations are accessible at the same website. + + + + + + About ADP (Nasdaq: ADP) + + + Designing better ways to work through cutting-edge products, premium services, and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits, and Payroll. Informed by data and designed for people. Learn more at ADP.com. + + + 4 + + + + + + + + + + + + + Automatic Data Processing, Inc. and Subsidiaries + + + + + Statements of Consolidated Earnings + + + + + (In millions, except per share amounts) + + + + + (Unaudited) + + + + + Three Months Ended + + + Six Months Ended + + + + + December 31, + + + December 31, + + + + + 2022 + + + 2021 + + + 2022 + + + 2021 + + + + + Revenues: + + + + + Revenues, other than interest on funds held + for clients and PEO revenues + + + $ + + + 2,702.2 + + + $ + + + 2,561.8 + + + $ + + + 5,348.6 + + + $ + + + 5,029.6 + + + + + Interest on funds held for clients + + + 187.2 + + + 106.0 + + + 328.3 + + + 207.1 + + + + + PEO revenues (A) (B) (C) + + + 1,501.6 + + + 1,357.6 + + + 2,929.7 + + + 2,621.0 + + + + + Total revenues + + + 4,391.0 + + + 4,025.4 + + + 8,606.6 + + + 7,857.7 + + + + + + + + + Expenses: + + + + + Costs of revenues: + + + + + Operating expenses (B) (C) + + + 2,134.5 + + + 2,040.7 + + + 4,209.0 + + + 3,971.5 + + + + + Systems development and programming costs + + + 204.2 + + + 199.7 + + + 413.9 + + + 388.5 + + + + + Depreciation and amortization + + + 112.0 + + + 100.8 + + + 221.4 + + + 203.8 + + + + + Total costs of revenues + + + 2,450.7 + + + 2,341.2 + + + 4,844.3 + + + 4,563.8 + + + + + + + + + Selling, general, and administrative expenses + + + 855.7 + + + 782.3 + + + 1,656.1 + + + 1,501.5 + + + + + Interest expense + + + 57.0 + + + 18.4 + + + 108.1 + + + 36.9 + + + + + Total expenses + + + 3,363.4 + + + 3,141.9 + + + 6,608.5 + + + 6,102.2 + + + + + + + + + Other (income)/expense, net + + + (30.5) + + + (26.6) + + + (70.0) + + + (55.4) + + + + + + + + + Earnings before income taxes + + + 1,058.1 + + + 910.1 + + + 2,068.1 + + + 1,810.9 + + + + + + + + + Provision for income taxes + + + 245.0 + + + 215.7 + + + 475.9 + + + 416.0 + + + + + + + + + Net earnings + + + $ + + + 813.1 + + + $ + + + 694.4 + + + $ + + + 1,592.2 + + + $ + + + 1,394.9 + + + + + + + + + Basic earnings per share + + + $ + + + 1.96 + + + $ + + + 1.65 + + + $ + + + 3.84 + + + $ + + + 3.32 + + + + + + + + + Diluted earnings per share + + + $ + + + 1.95 + + + $ + + + 1.65 + + + $ + + + 3.82 + + + $ + + + 3.30 + + + + + + + + + Components of Other (income)/expense, net: + + + + + Interest income on corporate funds + + + $ + + + (28.9) + + + $ + + + (8.5) + + + $ + + + (58.6) + + + $ + + + (18.2) + + + + + Realized losses/(gains) on available-for-sale securities, net + + + 11.5 + + + (0.4) + + + 13.0 + + + (0.5) + + + + + Gain on sale of assets + + + - + + + - + + + - + + + (1.3) + + + + + Impairment of assets + + + - + + + - + + + 0.3 + + + - + + + + + Non-service components of pension income, net + + + (13.1) + + + (17.7) + + + (24.7) + + + (35.4) + + + + + Other (income)/expense, net + + + $ + + + (30.5) + + + $ + + + (26.6) + + + $ + + + (70.0) + + + $ + + + (55.4) + + + + + + + + + (A) Professional Employer Organization ("PEO") revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes of $17,852.4 million and $16,774.0 million for the three months ended December 31, 2022 and 2021, respectively, and $33,386.6 million and $30,037.2 million for the six months ended December 31, 2022 and 2021, respectively. + + + + + + (B) PEO revenues and operating expenses include zero-margin benefits pass-through costs of $944.2 million and $863.9 million for the three months ended December 31, 2022 and 2021, respectively, and $1,890.0 million and $1,703.4 million for the six months ended December 31, 2022 and 2021, respectively. + + + + + + (C) PEO revenues and operating expenses include costs related to workers' compensation coverage and state unemployment taxes for worksite employees of $138.0 million and $142.0 million for the three months ended December 31, 2022 and 2021, respectively, and $257.4 million and $258.6 million for the six months ended December 31, 2022 and 2021, respectively. + + + 5 + + + + + + + + + + + + + Automatic Data Processing, Inc. and Subsidiaries + + + + + Consolidated Balance Sheets + + + + + (In millions, except per share amounts) + + + + + (Unaudited) + + + + + December 31, + + + June 30, + + + + + 2022 + + + 2022 + + + + + Assets + + + + + Current assets: + + + + + Cash and cash equivalents + + + $ + + + 1,345.0 + + + $ + + + 1,436.3 + + + + + + Accounts receivable, net of allowance for doubtful accounts of $50.0 and $56.8, respectively + + + + 3,162.3 + + + 3,170.6 + + + + + Other current assets + + + 875.8 + + + 628.8 + + + + + Total current assets before funds held for clients + + + 5,383.1 + + + 5,235.7 + + + + + Funds held for clients + + + 40,760.5 + + + 49,569.2 + + + + + Total current assets + + + 46,143.6 + + + 54,804.9 + + + + + Long-term receivables, net of allowance for doubtful accounts of $0.2 and $0.1, respectively + + + 7.7 + + + 9.1 + + + + + Property, plant and equipment, net + + + 655.1 + + + 652.6 + + + + + Operating lease right-of-use asset + + + 400.3 + + + 450.9 + + + + + Deferred contract costs + + + 2,574.8 + + + 2,579.7 + + + + + Other assets + + + 990.9 + + + 937.4 + + + + + Goodwill + + + 2,315.0 + + + 2,300.5 + + + + + Intangible assets, net + + + 1,365.6 + + + 1,333.1 + + + + + Total assets + + + $ + + + 54,453.0 + + + $ + + + 63,068.2 + + + + + + + + + Liabilities and Stockholders' Equity + + + + + Current liabilities: + + + + + Accounts payable + + + $ + + + 85.3 + + + $ + + + 110.2 + + + + + Accrued expenses and other current liabilities + + + 2,373.3 + + + 2,107.8 + + + + + Accrued payroll and payroll-related expenses + + + 590.8 + + + 862.6 + + + + + Dividends payable + + + 514.6 + + + 429.6 + + + + + Short-term deferred revenues + + + 176.8 + + + 188.2 + + + + + Obligations under reverse repurchase agreements (A) + + + - + + + 136.4 + + + + + Income taxes payable + + + 11.1 + + + 38.4 + + + + + Total current liabilities before client funds obligations + + + 3,751.9 + + + 3,873.2 + + + + + Client funds obligations + + + 43,061.8 + + + 51,285.5 + + + + + Total current liabilities + + + 46,813.7 + + + 55,158.7 + + + + + Long-term debt + + + 2,988.1 + + + 2,987.1 + + + + + Operating lease liabilities + + + 334.1 + + + 370.9 + + + + + Other liabilities + + + 931.6 + + + 924.2 + + + + + Deferred income taxes + + + 66.8 + + + 67.0 + + + + + Long-term deferred revenues + + + 332.0 + + + 335.0 + + + + + Total liabilities + + + 51,466.3 + + + 59,842.9 + + + + + + + + + Stockholders' equity: + + + + + Preferred stock, $1.00 par value: authorized, 0.3 shares; issued, none + + + - + + + - + + + + + + Common stock, $0.10 par value: authorized, 1,000.0 shares; issued, 638.7 shares at December 31, 2022 and June 30, 2022; outstanding, 414.4 and 416.1 shares at December 31, 2022 and June 30, 2022, respectively + + + + 63.9 + + + 63.9 + + + + + Capital in excess of par value + + + 1,954.2 + + + 1,794.2 + + + + + Retained earnings + + + 21,333.0 + + + 20,696.3 + + + + + Treasury stock - at cost: 224.4 and 222.7 shares at December 31, 2022 and June 30, 2022, respectively + + + (17,913.5) + + + (17,335.4) + + + + + Accumulated other comprehensive (loss)/ income + + + (2,450.9) + + + (1,993.7) + + + + + Total stockholders' equity + + + 2,986.7 + + + 3,225.3 + + + + + Total liabilities and stockholders' equity + + + $ + + + 54,453.0 + + + $ + + + 63,068.2 + + + + + + + + + (A) As of June 30, 2022, $14.3 million of short-term marketable securities and $122.1 million of long-term marketable securities have been pledged as collateral under the Company's reverse repurchase agreements + + + 6 + + + + + + + + + + + + + Automatic Data Processing, Inc. and Subsidiaries + + + + + Statements of Consolidated Cash Flows + + + + + (In millions) + + + + + (Unaudited) + + + Six Months Ended + + + + + December 31, + + + + + 2022 + + + 2021 + + + + + Cash Flows from Operating Activities: + + + + + Net earnings + + + $ + + + 1,592.2 + + + $ + + + 1,394.9 + + + + + Adjustments to reconcile net earnings to cash flows provided by operating activities: + + + + + Depreciation and amortization + + + 271.9 + + + 255.6 + + + + + Amortization of deferred contract costs + + + 488.6 + + + 474.9 + + + + + Deferred income taxes + + + 9.9 + + + 46.4 + + + + + Stock-based compensation expense + + + 109.0 + + + 97.9 + + + + + Net pension income + + + (20.0) + + + (31.6) + + + + + Net amortization of premiums and accretion of discounts on available-for-sale securities + + + 23.6 + + + 48.5 + + + + + Other + + + 30.8 + + + 6.8 + + + + + Changes in operating assets and liabilities: + + + + + Increase in accounts receivable + + + (1.1) + + + (26.0) + + + + + Increase in other assets + + + (787.9) + + + (668.6) + + + + + Decrease in accounts payable + + + (20.5) + + + (19.9) + + + + + Decrease in accrued expenses and other liabilities + + + (78.7) + + + (363.3) + + + + + Net cash flows provided by operating activities + + + 1,617.8 + + + 1,215.6 + + + + + + + + + Cash Flows from Investing Activities: + + + + + Purchases of corporate and client funds 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Services + + + + 32.3 + + + % + + + 30.6 + + + % + + + 1.7 + + + % + + + 31.6 + + + % + + + 30.5 + + + % + + + 1.1 + + + % + + + + + + PEO Services + + + + 17.0 + + + % + + + 15.7 + + + % + + + 1.3 + + + % + + + 16.6 + + + % + + + 15.5 + + + % + + + 1.1 + + + % + + + + + + Other + + + + n/m + + + n/m + + + n/m + + + n/m + + + n/m + + + n/m + + + + + + Total pretax margin + + + + 24.1 + + + % + + + 22.6 + + + % + + + 1.5 + + + % + + + 24.0 + + + % + + + 23.0 + + + % + + + 1.0 + + + % + + + + + + + + + Three Months Ended + + + Six Months Ended + + + + + December 31, + + + December 31, + + + + + Earnings per share information + + + 2022 + + + 2021 + + + % Change + + + 2022 + + + 2021 + + + % Change + + + + + Net earnings + + + $ + + + 813.1 + + + $ + + + 694.4 + + + 17 + + + % + + + $ + + + 1,592.2 + + + $ + + + 1,394.9 + + + 14 + + + % + + + + + + + + + Basic weighted average shares outstanding + + + 414.3 + + + 419.8 + + + (1) + + + % + + + 414.4 + + + 420.6 + + + (1) + + + % + + + + + Basic earnings per share + + + $ + + + 1.96 + + + $ + + + 1.65 + + + 19 + + + % + + + $ + + + 3.84 + + + $ + + + 3.32 + + + 16 + + + % + + + + + + + + + Diluted weighted average shares outstanding + + + 416.2 + + + 422.0 + + + (1) + + + % + + + 416.6 + + + 422.9 + + + (1) + + + % + + + + + Diluted earnings per share + + + $ + + + 1.95 + + + $ + + + 1.65 + + + 18 + + + % + + + $ + + + 3.82 + + + $ + + + 3.30 + + + 16 + + + % + + + + + + + + + + + + + Three Months Ended + + + Six Months Ended + + + + + December 31, + + + December 31, + + + + + 2022 + + + 2021 + + + 2022 + + + 2021 + + + + + Key Statistics: + + + + + Employer Services: + + + + + + Change in pays per control - U.S. (A) + + + + 5 + + + % + + + 6 + + + % + + + 6 + + + % + + + 7 + + + % + + + + + + + + + PEO Services: + + + + + Paid PEO worksite employees at end of period + + + 710,000 + + + 668,000 + + + 710,000 + + + 668,000 + + + + + Average paid PEO worksite employees during the period + + + 711,000 + + + 660,000 + + + 708,000 + + + 644,000 + + + + + + Significant PEO expenses included within Operating expenses + + + + + + + Zero-margin benefits pass-through costs + + + + $ + + + 944.2 + + + $ + + + 863.9 + + + $ + + + 1,890.0 + + + $ + + + 1,703.4 + + + + + + Workers' compensation and state unemployment taxes + + + + $ + + + 138.0 + + + $ + + + 142.0 + + + $ + + + 257.4 + + + $ + + + 258.6 + + + + + + + + + (A) Pays per control represents the number of employees on ADP clients' payrolls in the United States when measured on a same-store-sales basis for a subset of clients ranging from small to large businesses. + + + 8 + + + + + + + + + + + + + Automatic Data Processing, Inc. and Subsidiaries + + + + + Other Selected Financial Data, Continued + + + + + (Dollars in millions, except where otherwise stated) + + + + + (Unaudited) + + + + + Client Funds Strategy - Supplemental Information + + + + + + + + + Three Months Ended + + + + + December 31, + + + + + 2022 + + + 2021 + + + % Change + + + + + Average investment balances at cost (in billions) + + + + + Funds held for clients + + + $ + + + 33.4 + + + $ + + + 32.2 + + + 4 + + + % + + + + + Corporate extended (A) + + + $ + + + 4.4 + + + $ + + + 2.1 + + + 110 + + + % + + + + + Short-term financing to support Client Funds Extended Strategy (A) + + + $ + + + 4.4 + + + $ + + + 2.1 + + + 110 + + + % + + + + + + + + + Average interest rates earned or paid (exclusive of realized gains or losses) + + + + + Funds held for clients + + + 2.2 + + + % + + + 1.3 + + + % + + + + + Corporate extended (A) + + + 1.8 + + + % + + + 1.4 + + + % + + + + + Short-term financing to support Client Funds Extended Strategy (A) + + + 3.5 + + + % + + + 0.1 + + + % + + + + + + + + + Interest income (expense) + + + + + Funds held for clients + + + $ + + + 187.2 + + + $ + + + 106.0 + + + 77 + + + % + + + + + Corporate extended (B) + + + 19.7 + + + 7.4 + + + 166 + + + % + + + + + Short-term financing to support Client Funds Extended Strategy (B) + + + (39.3) + + + (0.6) + + + n/m + + + + + Net Impact from Client Funds Extended Strategy + + + $ + + + 167.6 + + + $ + + + 112.8 + + + 49 + + + % + + + + + + + + + + + + + + + + Funds Held for Clients - Supplemental Information + + + + + + + + + Three Months Ended + + + + + December 31, + + + + + 2022 + + + 2021 + + + + + Average balance - Client short + + + $ + + + 6.3 + + + $ + + + 8.2 + + + + + Average balance - Client extended + + + 15.4 + + + 13.9 + + + + + Average balance - Client long + + + 11.7 + + + 10.1 + + + + + Average balance - Funds held for clients (in billions) + + + $ + + + 33.4 + + + $ + + + 32.2 + + + + + + + + + Average interest rate - Client short + + + 3.6 + + + % + + + 0.1 + + + % + + + + + Average interest rate - Client extended + + + 1.7 + + + % + + + 1.4 + + + % + + + + + Average interest rate - Client long + + + 2.3 + + + % + + + 2.2 + + + % + + + + + Average interest rate - Funds held for clients + + + 2.2 + + + % + + + 1.3 + + + % + + + + + + + + + + + + + + + + Interest Income and Expense - Non-GAAP Reconciliation + + + + + + + + + Three Months Ended + + + + + December 31, + + + + + 2022 + + + 2021 + + + + + Corporate extended interest income (B) + + + $ + + + 19.7 + + + $ + + + 7.4 + + + + + All other interest income + + + 9.2 + + + 1.1 + + + + + Total interest income on corporate funds (component of Other (income)/expense, net) + + + $ + + + 28.9 + + + $ + + + 8.5 + + + + + + + + + Short-term financing to support Client Funds Extended Strategy (B) + + + $ + + + 39.3 + + + $ + + + 0.6 + + + + + All other interest expense + + + 17.7 + + + 17.8 + + + + + Total interest expense + + + $ + + + 57.0 + + + $ + + + 18.4 + + + + + + + + + (A) We utilize a strategy by which we extend the maturities of our investment portfolio for funds held for clients and employ short-term financing arrangements to satisfy our short-term funding requirements related to client funds obligations. As part of our client funds investment strategy, we use daily collection of funds from our clients to satisfy other unrelated client funds obligations, rather than liquidating previously-collected client funds that have already been invested in available-for-sale securities. + + + + + + (B) While "Corporate extended interest income" and "Short-term financing to support Client Funds Extended Strategy," related to our client funds investment strategy, are non-GAAP measures, management believes this information is beneficial to reviewing the financial statements of ADP. Management believes this information is beneficial as it allows the reader to understand the extended investment strategy for ADP's client funds assets, corporate investments, and short-term borrowings. + + + 9 + + + + + + + + + + + + + Automatic Data Processing, Inc. and Subsidiaries + + + + + Consolidated Statement of Adjusted / Non-GAAP Financial Information + + + + + (in millions, except per share amounts) + + + + + (Unaudited) + + + + + + + + + In addition to our GAAP results, we use the adjusted results and other non-GAAP metrics set forth in the table below to evaluate our operating performance in the absence of certain items and for planning and forecasting of future periods: + + + + + + + + + + Adjusted Financial Measures + + + + + U.S. GAAP Measures + + + + + + Adjusted EBIT + + + Net earnings + + + + + Adjusted provision for income taxes + + + Provision for income taxes + + + + + Adjusted net earnings + + + Net earnings + + + + + Adjusted diluted earnings per share + + + Diluted earnings per share + + + + + Adjusted effective tax rate + + + Effective tax rate + + + + + Organic constant currency + + + Revenues + + + + + + Corporate extended interest income (see prior page) + + + + Interest income + + + + + + Short-term financing to Support Client Funds Extended Strategy (see prior page) + + + + Interest expense + + + + + + + + + We believe that the exclusion of the identified items below helps us reflect the fundamentals of our underlying business model and analyze results against our expectations and against prior periods, and to plan for future periods by focusing on our underlying operations. We believe that the adjusted results provide relevant and useful information for investors because it allows investors to view performance in a manner similar to the method used by management and improves their ability to understand and assess our operating performance. The nature of these exclusions is for specific items that are not fundamental to our underlying business operations. Since these adjusted financial measures and other non-GAAP metrics are not measures of performance calculated in accordance with U.S. GAAP, they should not be considered in isolation from, as a substitute for, or superior to their corresponding U.S. GAAP measures, and they may not be comparable to similarly titled measures at other companies. + + + + + + + + + 10 + + + + + + + + + + + + + + Three Months Ended + + + + Six Months Ended + + + + + December 31, + + + % Change + + + December 31, + + + % Change + + + + + 2022 + + + 2021 + + + As Reported + + + 2022 + + + 2021 + + + As Reported + + + + + Net earnings + + + $ + + + 813.1 + + + $ + + + 694.4 + + + 17 + + + % + + + $ + + + 1,592.2 + + + $ + + + 1,394.9 + + + 14 + + + % + + + + + Adjustments: + + + + + Provision for income taxes + + + 245.0 + + + 215.7 + + + 475.9 + + + 416.0 + + + + + All other interest expense (a) + + + 17.7 + + + 17.8 + + + 35.5 + + + 35.6 + + + + + All other interest income (a) + + + (9.2) + + + (1.1) + + + (14.8) + + + (2.4) + + + + + Transformation initiatives (b) + + + 2.4 + + + 3.0 + + + 1.4 + + + 0.9 + + + + + Legal settlements (c) + + + - + + + - + + + (3.8) + + + - + + + + + Adjusted EBIT + + + $ + + + 1,069.0 + + + $ + + + 929.8 + + + 15 + + + % + + + $ + + + 2,086.4 + + + $ + + + 1,845.0 + + + 13 + + + % + + + + + Adjusted EBIT Margin + + + 24.3 + + + % + + + 23.1 + + + % + + + 24.2 + + + % + + + 23.5 + + + % + + + + + + + + + Provision for income taxes + + + $ + + + 245.0 + + + $ + + + 215.7 + + + 14 + + + % + + + $ + + + 475.9 + + + $ + + + 416.0 + + + 14 + + + % + + + + + Adjustments: + + + + + Transformation initiatives (d) + + + 0.6 + + + 0.7 + + + 0.4 + + + 0.1 + + + + + Legal settlements (d) + + + - + + + - + + + (1.0) + + + - + + + + + Adjusted provision for income taxes + + + $ + + + 245.6 + + + $ + + + 216.4 + + + 13 + + + % + + + $ + + + 475.3 + + + $ + + + 416.1 + + + 14 + + + % + + + + + Adjusted effective tax rate (e) + + + 23.2 + + + % + + + 23.7 + + + % + + + 23.0 + + + % + + + 23.0 + + + % + + + + + + + + + Net earnings + + + $ + + + 813.1 + + + $ + + + 694.4 + + + 17 + + + % + + + $ + + + 1,592.2 + + + $ + + + 1,394.9 + + + 14 + + + % + + + + + Adjustments: + + + + + Transformation initiatives (b) + + + 2.4 + + + 3.0 + + + 1.4 + + + 0.9 + + + + + Income tax provision/(benefit) for transformation initiatives (d) + + + (0.6) + + + (0.7) + + + (0.4) + + + (0.1) + + + + + Legal settlements (c) + + + - + + + - + + + (3.8) + + + - + + + + + Income tax provision/(benefit) for legal settlements (d) + + + - + + + - + + + 1.0 + + + - + + + + + Adjusted net earnings + + + $ + + + 814.9 + + + $ + + + 696.7 + + + 17 + + + % + + + $ + + + 1,590.4 + + + $ + + + 1,395.7 + + + 14 + + + % + + + + + + + + + Diluted EPS + + + $ + + + 1.95 + + + $ + + + 1.65 + + + 18 + + + % + + + $ + + + 3.82 + + + $ + + + 3.30 + + + 16 + + + % + + + + + Adjustments: + + + + + Transformation initiatives (b) (d) + + + - + + + 0.01 + + + - + + + - + + + + + Legal settlements (c) (d) + + + - + + + - + + + (0.01) + + + - + + + + + Adjusted diluted EPS + + + $ + + + 1.96 + + + $ + + + 1.65 + + + 19 + + + % + + + $ + + + 3.82 + + + $ + + + 3.30 + + + 16 + + + % + + + + + + + + + 11 + + + + + + + + + + + + + (a) In Adjusted EBIT, we include the interest income earned on investments associated with our client funds extended investment strategy and interest expense on borrowings related to our client funds extended investment strategy as we believe these amounts to be fundamental to the underlying operations of our business model. The adjustments in the table above represent the interest income and interest expense that are not related to our client funds extended investment strategy and are labeled as "All other interest expense" and "All other interest income." + + + + + + + + + (b)In the three and six months ended December 31, 2022, transformation initiatives include consulting costs relating to our company wide transformation initiatives, partially offset by net reversals relating to severance. Unlike other severance charges which are not included as an adjustment to get to adjusted results, these specific charges relate to actions taken as part of our broad-based, company-wide transformation initiative. + + + + + + + + + (c) Represents an insurance recovery from a legal settlement charge previously recorded. + + + + + + + + + (d) The income tax (benefit)/provision was calculated based on the annualized marginal rate in effect during the quarter of the adjustment. + + + + + + + + + + (e) The Adjusted effective tax rate is calculated as our Adjusted provision for income taxes divided by the sum of our Adjusted net earnings plus our Adjusted provision for income taxes. + + + + + + + + + + The following table reconciles our reported growth rates to the non-GAAP measure of organic revenue, which excludes the impact of acquisitions, the impact of dispositions, and the impact of foreign currency. The impact of acquisitions and dispositions is calculated by excluding the current year revenues of acquisitions until the one year anniversary of the transaction and by excluding the prior year revenues of divestitures for the one year period preceding the transaction. The impact of foreign currency is determined by calculating the current year result using foreign exchange rates consistent with the prior year. The PEO segment is not impacted by acquisitions, dispositions or foreign currency. + + + + + + + + + + + + + Three Months Ended + + + Six Months Ended + + + + + December 31, + + + December 31, + + + + + Revenue growth consolidated: + + + 2022 + + + 2021 + + + 2022 + + + 2021 + + + + + + + + + + Employer Services + + + + 8 + + + % + + + 6 + + + % + + + 8 + + + % + + + 7 + + + % + + + + + + PEO Services + + + + 11 + + + % + + + 15 + + + % + + + 12 + + + % + + + 15 + + + % + + + + + Consolidated revenue growth as reported + + + 9 + + + % + + + 9 + + + % + + + 10 + + + % + + + 10 + + + % + + + + + Adjustments: + + + + + + Impact of acquisitions + + + + - + + + % + + + - + + + % + + + - + + + % + + + - + + + % + + + + + + Impact of foreign currency + + + + 1 + + + % + + + - + + + % + + + 1 + + + % + + + - + + + % + + + + + Consolidated revenue growth, organic constant currency + + + 10 + + + % + + + 9 + + + % + + + 11 + + + % + + + 10 + + + % + + + + + + + + + Segment: + + + + + + + + + Employer Services revenue growth as reported + + + 8 + + + % + + + 6 + + + % + + + 8 + + + % + + + 7 + + + % + + + + + Adjustments: + + + + + + Impact of acquisitions + + + + - + + + % + + + - + + + % + + + - + + + % + + + - + + + % + + + + + + Impact of foreign currency + + + + 2 + + + % + + + 1 + + + % + + + 2 + + + % + + + - + + + % + + + + + Employer Services revenue growth, organic constant currency + + + 10 + + + % + + + 7 + + + % + + + 11 + + + % + + + 7 + + + % + + + + + + 12 + + + + + + + + + + + + + Automatic Data Processing, Inc. and Subsidiaries + + + + + Fiscal 2022 to Fiscal 2023 Non-GAAP Guidance Reconciliation + + + + + (in millions, except per share amounts) + + + + + (Unaudited) + + + + + Fiscal 2023 + + + + + Fiscal 2022 + + + Outlook + + + + + Earnings before income taxes / margin (GAAP) + + + $ + + + 3,804.1 + + + 23.1 + + + % + + + 135 to 160 bps + + + + + All other interest expense (a) + + + 71.3 + + + 40 bps + + + - + + + + + All other interest income (a) + + + (7.1) + + + - + + + (10) bps + + + + + Transformation initiatives (b) - FY22 + + + 3.5 + + + - + + + - + + + + + Transformation initiatives - FY23 + + + - + + + - + + + - + + + + + Legal settlements - FY23 + + + - + + + - + + + - + + + + + Adjusted EBIT margin (Non-GAAP) + + + $ + + + 3,871.8 + + + 23.5 + + + % + + + 125 to 150 bps + + + + + + + + + Effective tax rate (GAAP) + + + 22.5 + + + % + + + 23.0 + + + % + + + + + Transformation initiatives (b) - FY22 + + + - + + + - + + + + + Transformation initiatives - FY23 + + + - + + + - + + + + + Legal settlements - FY23 + + + - + + + - + + + + + Adjusted effective tax rate (Non-GAAP) + + + 22.5 + + + % + + + 23.0 + + + % + + + + + + + + + Diluted earnings per share (GAAP) + + + $ + + + 7.00 + + + 15% to 17% + + + + + Transformation initiatives (b) - FY22 + + + 0.01 + + + - + + + + + Transformation initiatives - FY23 + + + - + + + - + + + + + Legal settlements - FY23 + + + - + + + - + + + + + Adjusted diluted earnings per share (Non-GAAP) + + + $ + + + 7.01 + + + 15% to 17% + + + + + + + + + (a) We include the interest income earned on investments associated with our client funds extended investment strategy and interest expense on borrowings related to our client funds extended investment strategy as we believe these amounts to be fundamental to the underlying operations of our business model. These adjustments in the table above represent the interest income and interest expense that is not related to our client funds extended investment strategy and are labeled as "All other interest expense" and "All other interest income." + + + + + (b) In fiscal 2022, transformation initiatives include impairment charges as a result of recognizing certain owned facilities at fair value given intent to sell and accordingly classified as held for sale and lease asset impairment charges, offset by gain on sale of assets and net reversals of charges related to other transformation initiatives, including severance. + + Unlike other severance charges which are not included as an adjustment to get to adjusted results, these specific charges relate to actions taken as part of our broad-based, company-wide transformation initiative. + + + + + + + + + 13 + + + + + + Safe Harbor Statement + + + This document and other written or oral statements made from time to time by ADP may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words like "outlook," "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could," "is designed to" and other words of similar meaning, are forward-looking statements. These statements are based on management's expectations and assumptions and depend upon or refer to future events or conditions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements or that could contribute to such difference include: ADP's success in obtaining and retaining clients, and selling additional services to clients; the pricing of products and services; the success of our new solutions; compliance with existing or new legislation or regulations; changes in, or interpretations of, existing legislation or regulations; overall market, political and economic conditions, including interest rate and foreign currency trends and inflation; competitive conditions; our ability to maintain our current credit ratings and the impact on our funding costs and profitability; security or cyber breaches, fraudulent acts, and system interruptions and failures; employment and wage levels; changes in technology; availability of skilled associates; the impact of new acquisitions and divestitures; the adequacy, effectiveness and success of our business transformation initiatives; the impact of any uncertainties related to major natural disasters or catastrophic events, including the COVID-19 pandemic; and supply-chain disruptions. ADP disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. These risks and uncertainties, along with the risk factors discussed under "Item 1A. Risk Factors" of our most recent Annual Report on Form 10-K, and in other written or oral statements made from time to time by ADP, should be considered in evaluating any forward-looking statements contained herein. + + + + + + ADP, the ADP logo, and Always Designing for People are trademarks of ADP, Inc. + + + + + + Copyright © 2023 ADP, Inc. All rights reserved. + + + + + + ADP - Investor Relations + + + + + + Investor Relations Contacts: + + + Danyal Hussain, CFA + + + 973.974.7836 + + + Danyal.Hussain@adp.com + + + + + + Matthew Keating, CFA + + + 973.974.3037 + + + Matthew.Keating@adp.com + + + + + + ADP - Media + + + + + + Media Contact: + + + Allyce Hackmann + + + 201.400.4583 + + + Allyce.Hackmann@adp.com + + + + + + 14 + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +ADP - Automatic Data Processing Inc. published this content on 25 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2023 11:57:08 UTC. + + diff --git "a/news/ADP/2023.02.01/ADP Named One of the \"World's Most Admired Companies\" for 17th Straight Year.txt" "b/news/ADP/2023.02.01/ADP Named One of the \"World's Most Admired Companies\" for 17th Straight Year.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c506925e0408c5fd2ed60f48044f36cd07e442e8 --- /dev/null +++ "b/news/ADP/2023.02.01/ADP Named One of the \"World's Most Admired Companies\" for 17th Straight Year.txt" @@ -0,0 +1,18 @@ + + +ROSELAND, N.J., Feb. 1, 2023 /PRNewswire/ -- ADP, a leading global technology company providing human capital management (HCM) solutions, has been named by FORTUNE® magazine as one of the "World's Most Admired Companies" in 2023. This marks ADP's 17th consecutive year earning recognition on the distinguished list, which highlights companies with consistently strong performance and reputations as the world continues to change.      +See how ADP ranks among the World's Most Admired Companies +"Through changing times, we are incredibly proud to see ADP's steady presence on this impressive list," said Maria Black, president and chief executive officer of ADP. "Our clients inspire us to keep innovating, and by actively listening to their needs and harnessing the power of our data, we can design solutions that can make a real impact for their businesses and their people. We believe firmly in our responsibility to enable global progress and empower our clients with the tools and support they need to build a better world of work." +FORTUNE collaborates with partner Korn Ferry Hay Group on this corporate reputation survey, which evaluates approximately 1,500 companies, including the 1,000 largest U.S. companies ranked by revenue and non-U.S. companies in the FORTUNE Global 500® database with revenues of $10 billion or more.  Korn Ferry Hay Group surveyed 645 companies from 27 countries to select the largest for each international and U.S. industry. To determine the best-regarded companies in 52 industries, Korn Ferry asks executives, directors, and analysts to rate enterprises in their own industry on nine criteria, from investment value and quality of management and products to social responsibility and ability to attract talent. A company's score must rank in the top half of its industry survey to be listed. +The complete list appears in the February/March 2023 issue of the magazine, available on newsstands beginning February 21.  To learn more about FORTUNE magazine's list of the "World's Most Admired Companies," please visit here. Learn more about ADP at ADP.com.  +About ADP (NASDAQ: ADP)Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential.  HR, Talent, Time Management, Benefits and Payroll.  Informed by data and designed for people.  Learn more at ADP.com +ADP, the ADP logo, and Always Designing for People, are trademarks of ADP, Inc.  All other marks are the property of their respective owners. +Copyright © 2023 ADP, Inc.  All rights reserved. + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/adp-named-one-of-the-worlds-most-admired-companies-for-17th-straight-year-301736125.html +SOURCE ADP, Inc. + + diff --git a/news/ADP/2023.02.01/Adp National Employment Report : Private Sector Employment Increased by 106,000 Jobs in Ja...txt b/news/ADP/2023.02.01/Adp National Employment Report : Private Sector Employment Increased by 106,000 Jobs in Ja...txt new file mode 100644 index 0000000000000000000000000000000000000000..15c8fa2f352fd80aeea9bec43fc339ac63490f47 --- /dev/null +++ b/news/ADP/2023.02.01/Adp National Employment Report : Private Sector Employment Increased by 106,000 Jobs in Ja...txt @@ -0,0 +1,60 @@ + + +ROSELAND, N.J., Feb. 1, 2023 /PRNewswire/ -- Private sector employment increased by 106,000 jobs in January and annual pay was up 7.3 percent year-over-year, according to the January ADP® National Employment Report™ produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab ("Stanford Lab"). +The jobs report and pay insights use ADP's fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market. The report details the current month's total private employment change, and weekly job data from the previous month. ADP's pay measure uniquely captures the earnings of a cohort of almost 10 million employees over a 12-month period. +"In January, we saw the impact of weather-related disruptions on employment during our reference week," said Nela Richardson, chief economist, ADP.  "Hiring was stronger during other weeks of the month, in line with the strength we saw late last year." +January 2023 Report Highlights* +View the ADP National Employment Report and interactive charts at www.adpemploymentreport.com. +JOBS REPORT +Private employers added 106,000 jobs in JanuaryEmployment was soft during our Jan. 12 reference week as the U.S. was hit with extreme weather. California was coping with record floods and back-to-back storms delivered ice and snow to the central and eastern U.S. +Change in U.S. Private Employment:     106,000 +Change by Industry Sector +- Goods-producing:     -3,000 +Natural resources/mining     -2,000Construction     -24,000Manufacturing     23,000- Service-providing:     109,000 +Trade/transportation/utilities     -41,000Information     5,000Financial activities     30,000Professional/business services     8,000Education/health services     12,000Leisure/hospitality     95,000Other services     0Change by U.S. Regions +- Northeast:     42,000 +New England     11,000Middle Atlantic     31,000- Midwest:     -40,000 +East North Central     -41,000West North Central     1,000- South:     55,000 +South Atlantic     36,000East South Central     28,000West South Central     -9,000- West:     27,000 +Mountain      31,000Pacific      -4,000Change by Establishment Size +- Small establishments:     -75,000 +1-19 employees     -70,00020-49 employees     -5,000- Medium establishments:     64,000 +50-249 employees     99,000250-499 employees     -35,000- Large establishments:     128,000 +500+ employees     128,000PAY INSIGHTS +Pay growth was flat in JanuaryPay growth for job stayers held at 7.3 percent for the second month, with most industries little changed. One outlier was the information sector, where pay growth decelerated from 7 percent to 6.6 percent. For job changers, pay growth accelerated to 15.4 percent. +Median Change in Annual Pay (ADP matched person sample) +- Job-Stayers     7.3% +- Job-Changers     15.4% +Median Change in Annual Pay for Job-Stayers by Industry Sector +- Goods-producing:                                                        +Natural resources/mining     7.9%Construction     7.1%Manufacturing    7.2%- Service-providing:                                                +Trade/transportation/utilities     7.5%Information     6.6%Financial activities     7.4%Professional/business services     6.7%Education/health services     7.2%Leisure/hospitality     10.1%Other services     6.8%Median Change in Annual Pay for Job-Stayers by Firm Size +- Small firms:                                                                 +1-19 employees     5.5%20-49 employees     7.0%- Medium firms:                                                              +50-249 employees     7.6%250-499 employees     7.6%- Large firms:                                                                 +500+ employees     7.7%To see Pay Insights by U.S. State, Gender, and Age for Job-Stayers, visit here: +* Sum of components may not equal total, due to rounding. +The December total of jobs added was revised from 235,000 to 253,000. The historical data file, and weekly data for the previous month, is available at https://adpemploymentreport.com/. +January's report presents the scheduled annual revision of the ADP National Employment Report, which updates the data series to be consistent with the annual Quarterly Census of Employment and Wages (QCEW) benchmark data for March 2022. In addition, this revision introduces some methodological changes, namely, in re-weighting of ADP data to match QCEW data, seasonal adjustment of weekly data instead of monthly data, and constructing the national aggregate from industry aggregates. The historical file was updated to reflect these revisions. +To subscribe to monthly email alerts or obtain additional information about the ADP National Employment Report, including employment and pay data, interactive charts, methodology, and a calendar of release dates, please visit https://adpemploymentreport.com/.     +The February 2023 ADP National Employment Report will be released at 8:15 a.m. ET on March 8, 2023. +About the ADP® National Employment Report™The ADP National Employment Report is an independent estimate of the change in U.S. private employment and pay derived from actual, anonymized payroll data of client companies served by ADP, a leading provider of human capital management solutions. The report is produced by ADP Research Institute in collaboration with the Stanford Digital Economy Lab. +The ADP National Employment Report is broadly distributed to the public each month, free of charge, as part of the company's commitment to offering deeper insights of the U.S. labor market and providing businesses and governments with a source of credible and valuable information. +About the ADP Research Institute®The ADP Research Institute delivers data-driven discoveries about the world of work and derives reliable economic indicators from these insights. We offer these findings as a unique contribution to making the world of work better and more productive by delivering actionable insights to the economy at large. +About ADP (NASDAQ – ADP)Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential.  HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people.   Learn more at ADP.com +ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research Institute are registered trademarks of ADP, Inc. All other marks are the property of their respective owners. +Copyright © 2023 ADP, Inc. All rights reserved. +ADP-Media + +  + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/adp-national-employment-report-private-sector-employment-increased-by-106-000-jobs-in-january-annual-pay-was-up-7-3-301736053.html +SOURCE ADP, Inc. + + diff --git a/news/ADP/2023.02.08/ADP Signs Sponsorships with APGA, U.S. Paralympian Noelle Lambert.txt b/news/ADP/2023.02.08/ADP Signs Sponsorships with APGA, U.S. Paralympian Noelle Lambert.txt new file mode 100644 index 0000000000000000000000000000000000000000..9fe737092e7f90b7597d7fc5f17c2716689c6ff7 --- /dev/null +++ b/news/ADP/2023.02.08/ADP Signs Sponsorships with APGA, U.S. Paralympian Noelle Lambert.txt @@ -0,0 +1,25 @@ + + +ROSELAND, N.J., Feb. 8, 2023 /PRNewswire/ -- ADP, a leading global technology company providing human capital management (HCM) solutions, today announced new sponsorships with the Advocates Pro Golf Association (APGA) and U.S. Paralympian Noelle Lambert, enhancing Team ADP's global roster of top athletes that launched in 2022. +"Fostering equity and inclusion and championing people's greatest potential are core tenets for ADP," said Gus Blanchard, ADP's chief marketing officer. "An inclusive environment drives innovation and success forward, powering even greater possibilities. We're so inspired by both the missions and stories of the APGA and Noelle, and we're honored to show our support." +The APGA Tour was established 14 years ago as a non-profit organization committed to bringing greater diversity to the game of golf. In addition to hosting and operating golf tournaments, the APGA offers player development and mentoring programs to help aspiring professional golfers of color reach their goals and to grow the game for inner city youth. +ADP will be the Official HR and Payroll Provider of the APGA Tour and Foundation. ADP will also serve as a presenting partner of the APGA Foundation's new Elite Player Combines for high-school golfers, to take place in Houston and LA, which will include clinics led by APGA Tour players and symposiums for parents on how to develop an elite player and pursue college scholarships. +In addition, rising APGA Tour players Marcus Byrd, 25, of Atlanta, and Ryan Alford, 24, of Shreveport, La., will join Team ADP's growing global roster, which includes players from the PGA TOUR, LPGA and European Tour. Byrd and Alford finished second and third respectively in the 2021 APGA Tour Lexus Cup standings. Byrd, who last week won the APGA Farmers Insurance Invitational is the 2023 recipient of the Charlie Sifford memorial exemption into The Genesis Invitational, taking place February 16-19 at The Riviera Country Club. +"Partnering with ADP, who not only shows a true appreciation for encouraging inclusion, but also has systems and strengths that will advance our business and strengthen the APGA Tour, is extremely important and impactful," said APGA Tour CEO Ken Bentley. "Having a company with their experience in HR and Payroll services has had an immediate impact in improving our business." +ADP's collaboration with dual athlete and U.S. Paralympian Noelle Lambert expands Team ADP's program beyond the world of golf. After participating as a sprinter in the Tokyo 2020 Paralympic Games where she broke her own personal record, Lambert set her sights on training to become a member of the U.S. National Snowboarding Team. She also created the Born to Run Foundation, a nonprofit dedicated to providing child amputees with a specific prosthetic that allows them to run again. +"In life, as in business, being surrounded by diverse experiences and unique voices can lead to remarkable things," said Blanchard. "ADP is honored to support these tremendous athletes, the stories they have to share, and the achievements they will no doubt inspire through example." +To meet Team ADP, visit ADP.com/athletes. +About ADP (NASDAQ: ADP) +Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. Learn more at ADP.com +About APGA Tour +The APGA Tour was established in 2010 as a non-profit organization with the mission to bring greater diversity to the game of golf. The APGA Tour Board of Directors works to accomplish this by hosting and operating professional golf tournaments, player development programs, mentoring programs and by introducing the game to inner city young people. In addition to conducting up to 18 tournaments awarding more than $900,000 in prize money and $100,000 in bonus money in 2022, the APGA has organized a Player Development Program to aid young minority golfers as they work to chase their goals in professional golf. +ADP, the ADP logo, and Always Designing for People, are trademarks of ADP, Inc. All other marks are the property of their respective owners. +Copyright © 2023 ADP, Inc. All rights reserved. + +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/adp-signs-sponsorships-with-apga-us-paralympian-noelle-lambert-301741475.html +SOURCE ADP, Inc. + + diff --git a/news/ADSK/2023.01.19/Autodesk : Foundation supports portfolio organizations with new leadership development tra...txt b/news/ADSK/2023.01.19/Autodesk : Foundation supports portfolio organizations with new leadership development tra...txt new file mode 100644 index 0000000000000000000000000000000000000000..569d812c27ae1a70b50370221990cf85d3db1d62 --- /dev/null +++ b/news/ADSK/2023.01.19/Autodesk : Foundation supports portfolio organizations with new leadership development tra...txt @@ -0,0 +1,114 @@ + + + + From climate change to inequality, the Autodesk Foundation supports nonprofits and startups that are creating design and engineering solutions to the world's most pressing challenges. It provides philanthropic support through a blend of funding and training to de-risk innovation and scale industry-transforming solutions. + + + Yet in recent discussions with our portfolio organizations, we heard the need for a new layer of support: non-technical, leadership training. + + + Many of these early-stage organizations don't have the resources to provide the level of career training necessary to develop promising new talent beyond traditional on-the-job training. At Autodesk, we are fortunate to have professional development programs, like the Next Level Program that offers access to BetterUp career coaching. With this model in mind, we saw an opportunity to help address a critical need for our portfolio organizations. + + + In March 2022, we announced the Tech Lead Development Program (TLDP). A six-month cohort-based program designed to facilitate learning for the most in-demand, non-technical skills of the future. + + + We developed TLDP with the goal of creating a community focused on scaling impact innovations among rising leaders, spanning industries and regions. The 18 members of the inaugural cohort were nominated and recognized as emerging leaders from within Autodesk Foundation portfolio organizations and hail from the United States, Latin America, Europe, and East Africa. + + + + Tech Lead Development Program cohort at Autodesk University (AU) in 2022. + + + + Emphasizing leadership skills + + + Over the course of the program, the cohort ventured outside the technical skills they were most comfortable with in their roles as architects and engineers, and instead took time to hone their soft skills. + + + Despite being called "soft," these skills are anything but superfluous. Industry research like Autodesk and ASME's recent Future of Manufacturing report, tells us that workers don't solely need technical skills to thrive over the next decade-they need to be proficient in problem solving, collaboration, and communication. And as leaders, they need to be prepared to succeed in cross-cultural and global contexts. + + + We focused on helping participants build their skills in three core areas of talent development: leading yourself, leading others, and leading industry. + + + Beginning with leading yourself, we helped participants build skills necessary for a growth mindset, like self-awareness, adaptability, and resilience. Maintaining a growth mindset is essential for being ready to evolve and keep pace with industry. + + + Next, we targeted inclusive leadership skills. In our globalized industries, it's increasingly important to be able to lead a team of individuals who may have diverse lived experiences and identities. This requires development in relationship building, empathy, and authenticity. + + + This element of the program resonated with the cohort, inspiring Laura MacDonald, Managing Director, from Mortenson Center in Global Engineering. "I realized I do have leadership strengths appreciated by others and [I am] encouraged to continue to strengthen those skills to build a positive work environment," she shared. + + + Beyond leading coworkers, it's important these innovators are ready to lead an industry. Each participant is working toward solving incredibly complex challenges-like building sustainable housing, reducing carbon emissions, and strengthening resilience in low-resource communities. The more we can equip them with skills to convey their learnings and successes, the more the rest of the world can learn from them. + + + The road to Autodesk University + + + + Members of the cohort presented their Capstone Publications at AU. + + + + At the final stage of the course, the cohort convened at Autodesk University (AU) to formally present on a topic they're passionate about while highlighting their expertise in leadership. Through these presentations, participants gained real-world experience talking about their innovative work, demonstrating their thought leadership, and practicing public speaking. + + + Watch presentations from the TLDP cohort at AU, here. + + + Experiencing their presentations in person provided us with tangible proof of their growth and success over the last six months. + + + + While attending AU, cohort members took a cooking class at the New Orleans School of Cooking. + + + + Encouraging outcomes + + + After the program concluded, we were delighted to hear positive feedback from participants reflecting on what they learned. Kylie Van Aken, a Quality Manager at Vartega warmly shared, "I feel empowered to know what I can bring to my organization and advocate for my ideas." + + + And participants' supervisors also took notice. We heard glowing remarks from managers like Yihenew Belete, a manager at Splash International, "This program has made our organization more confident in this individual's leadership, communication, and teamwork, to the point our company is willing to promote her." + + + Our survey data following the program helps quantify the strength of the experience. Among participants, 94% strongly agree that the cohort will continue to be a resource and group of collaborators in their future work and 88% say their learnings will help them drive success for their organization. + + + Further, the participants' growth was recognized by their employers, with 66% of the cohort reporting they have taken on new responsibilities or have been promoted during or immediately following the program. + + + But this experience means even more than the data suggests. + + + After six months of connecting with one another virtually, meeting in-person at AU made it clear just how strong a bond this community has formed. Even now after the program, the group still sends celebrations and career updates in the cohort group chat. + + + In this space, there's a powerful feeling that each person will accomplish incredible things and an understanding that everyone will support each other in their collective journey to make a better world for us all. + + + Learn more about the 2022 cohort and their incredible work here. + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Autodesk Inc. published this content on 19 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2023 14:10:01 UTC. + + diff --git a/news/ADSK/2023.02.02/Autodesk extends invitation to join financial results conference call and digital inves...txt b/news/ADSK/2023.02.02/Autodesk extends invitation to join financial results conference call and digital inves...txt new file mode 100644 index 0000000000000000000000000000000000000000..ce5998971ecaf39f3ebd5d258231cdbbe330bfb6 --- /dev/null +++ b/news/ADSK/2023.02.02/Autodesk extends invitation to join financial results conference call and digital inves...txt @@ -0,0 +1,21 @@ + + +Fourth quarter fiscal 2023 financial results conference call to be held Thursday, February 23, 2023, 2 p.m. PT +SAN FRANCISCO, Feb. 2, 2023 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today announced it will broadcast its fourth quarter fiscal 2023 financial results conference call via its website Thursday, February 23, 2023, at 2 p.m. Pacific Time. Autodesk will host a live webcast call Thursday, February 23, 2023, at 2 p.m. PT at autodesk.com/investors. An audio replay webcast will also be available after 5 p.m. PT on Autodesk's website at autodesk.com/investors. + + + + + + + +Autodesk will also be hosting its Digital Investor Day on Wednesday, March 22, 2023, at 8 a.m. PT.More information will be available on autodesk.com/investors. +About AutodeskAutodesk is changing how the world is designed and made. Our technology spans architecture, engineering, construction, product design, manufacturing, media and entertainment, empowering innovators everywhere to solve challenges big and small. From greener buildings to smarter products to more mesmerizing blockbusters, Autodesk software helps our customers to design and make a better world for all. For more information, visit autodesk.com or follow @autodesk. +Autodesk is a registered trademark of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and services offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. +© 2023 Autodesk, Inc. All rights reserved. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/autodesk-extends-invitation-to-join-financial-results-conference-call-and-digital-investor-day-301736810.html +SOURCE Autodesk, Inc. + + diff --git a/news/ADSK/2023.02.23/Autodesk : Fiscal Q4 Earnings Snapshot.txt b/news/ADSK/2023.02.23/Autodesk : Fiscal Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..afb477c5c726654bc791a8229821dfdc1dcfabf6 --- /dev/null +++ b/news/ADSK/2023.02.23/Autodesk : Fiscal Q4 Earnings Snapshot.txt @@ -0,0 +1,2 @@ +SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Autodesk Inc. (ADSK) on Thursday reported fiscal fourth-quarter earnings of $293 million.The San Francisco-based company said it had profit of $1.35 per share. Earnings, adjusted for one-time gains and costs, were $1.86 per share.The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.The design software company posted revenue of $1.32 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $1.31 billion.For the year, the company reported profit of $823 million, or $3.78 per share. Revenue was reported as $5.01 billion.For the current quarter ending in April, Autodesk expects its per-share earnings to range from $1.50 to $1.56. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.66.The company said it expects revenue in the range of $1.26 billion to $1.27 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.27 billion.Autodesk expects full-year earnings in the range of $6.98 to $7.32 per share.Autodesk shares have climbed 18% since the beginning of the year, while the S&P's 500 index has climbed 4.5%. In the final minutes of trading on Thursday, shares hit $221.16, a climb of nearly 6% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADSK at https://www.zacks.com/ap/ADSKFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. +, source Associated Press News \ No newline at end of file diff --git a/news/ADSK/2023.02.23/Autodesk, inc. announces fiscal 2023 fourth quarter and full-year results.txt b/news/ADSK/2023.02.23/Autodesk, inc. announces fiscal 2023 fourth quarter and full-year results.txt new file mode 100644 index 0000000000000000000000000000000000000000..598ca3bce7fef4030883248a26145d33bf9f2ca0 --- /dev/null +++ b/news/ADSK/2023.02.23/Autodesk, inc. announces fiscal 2023 fourth quarter and full-year results.txt @@ -0,0 +1,802 @@ + + +Record quarterly and full-year revenue, cash flow from operating activities, and free cash flowFourth quarter billings and current remaining performance obligations grew 28 percent and 12 percent year over year, respectively, to $2.1 billion and $3.5 billionSAN FRANCISCO, Feb. 23, 2023 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the fourth quarter and full year of fiscal 2023. + + + + + + + +All growth rates are compared to the  fourth quarter and full year of fiscal 2022, respectively, unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document. +Fourth Quarter Fiscal 2023 Financial Highlights +Total revenue increased 9 percent to $1.32 billion;GAAP operating margin was 21 percent, up 9 percentage points;Non-GAAP operating margin was 36 percent, up 1 percentage point;GAAP diluted EPS was $1.35; Non-GAAP diluted EPS was $1.86;Cash flow from operating activities was $911 million; free cash flow was $903 million."As we deliver next-generation technology and services to our customers, the pace of transformation within and between the industries we serve will accelerate, generating large new growth opportunities for Autodesk," said Andrew Anagnost, Autodesk president and CEO. "We started seeing the shift towards connected digital workflows in the cloud in product design and manufacturing, then in architecture, followed by building engineering, and more recently construction. And we are now seeing growing momentum with owners." +"Overall, the demand environment in Q4 remained consistent with Q3 with the approaching transition from up-front to annual billings for multi-year contracts, and a large renewal cohort, providing a tailwind to billings and free cash flow," said Debbie Clifford, Autodesk CFO. "We continue to develop broader strategic partnerships with our customers, closing our largest deal to date during the quarter. Our strong momentum and competitive performance set us up well for fiscal 24." +Fourth Quarter Fiscal 2023 Additional Financial Details +Total billings increased 28 percent to $2.12 billion.Total revenue was $1.32 billion, an increase of 9 percent as reported, and 12 percent on a constant currency basis. Recurring revenue represents 98 percent of total.Design revenue was $1.11 billion, an increase of 9 percent as reported, and 12 percent on a constant currency basis. On a sequential basis, Design revenue increased 2 percent as reported and on a constant currency basis.Make revenue was $119 million, an increase of 20 percent as reported, and 21 percent on a constant currency basis. On a sequential basis, Make revenue increased 2 percent as reported and on a constant currency basis.Subscription plan revenue was $1.21 billion, an increase of 11 percent as reported, and 14 percent on a constant currency basis.  On a sequential basis, subscription plan revenue increased 2 percent as reported and on a constant currency basis.Net revenue retention rate was within the range of 100 to 110 percent.GAAP operating income was $277 million, compared to $143 million in the fourth quarter last year.  GAAP operating margin was 21 percent, up 9 percentage points.Total non-GAAP operating income was $479 million, compared to $421 million in the fourth quarter last year. Non-GAAP operating margin was 36 percent, up 1 percentage point.GAAP diluted net income per share was $1.35, compared to $0.40 in the fourth quarter last year.Non-GAAP diluted net income per share was $1.86, compared to $1.50 in the fourth quarter last year.Deferred revenue increased 21 percent to $4.58 billion.  Unbilled deferred revenue was $1.04 billion, an increase of $94 million compared to the fourth quarter of last year. Remaining performance obligations (RPO) increased 19 percent to $5.62 billion. Current RPO increased 12 percent to $3.52 billion.Cash flow from operating activities was $911 million, an increase of $189 million compared to the fourth quarter last year.  Free cash flow was $903 million, an increase of $187 million compared to the fourth quarter last year.  +Net Revenue by Geographic Area +Three Months Ended January 31, 2023 +Three Months Ended January 31, 2022 +Change compared to +prior fiscal year +Constant currency change compared to prior fiscal year +(In millions, except percentages) (1) +$ +% +% +Net Revenue: +Americas +U.S. +$                       451 +$                      402 +$     49 +12 % +* +Other Americas +101 +87 +14 +16 % +* +Total Americas +552 +489 +63 +13 % +13 % +EMEA +508 +474 +34 +7 % +12 % +APAC +258 +248 +10 +4 % +10 % +Total Net Revenue +$                     1,318 +$                     1,211 +$    107 +9 % +12 % +____________________ +*  Constant currency data not provided at this level. +(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances. +  +Net Revenue by Product Family +Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E"). +Three Months Ended +Change compared to +prior fiscal year +(In millions, except percentages) (1) +January 31, 2023 +January 31, 2022 +$ +% +AEC (2) +$              602 +$              540 +$         62 +11 % +AutoCAD and AutoCAD LT (2) +362 +332 +30 +9 % +MFG +257 +246 +11 +4 % +M&E +74 +82 +(8) +(10) % +Other +23 +11 +12 +109 % +Total Net Revenue +$            1,318 +$             1,211 +$       107 +9 % +____________________  +(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances. +(2) During the current fiscal year, the Company corrected an immaterial classification error and reclassified certain revenue amounts between Architecture, Engineering and Construction and AutoCAD and AutoCAD LT.  The prior year period has been adjusted to conform to the current period presentation. +Fiscal 2023 Financial Highlights +Total billings increased 20 percent to $5.80 billion.Total revenue was $5.01 billion, an increase of 14 percent as reported, and 15 percent on a constant currency basis. Recurring revenue represents 98 percent of total.Design revenue was $4.26 billion, an increase of 13 percent as reported, and 14 percent on a constant currency basis.Make revenue was $452 million, an increase of 24 percent as reported, and 25 percent on a constant currency basis.Subscription plan revenue was $4.65 billion, an increase of 15 percent as reported and on a constant currency basis.Total subscriptions increased approximately 702 thousand from fiscal 2022 to 6.74 million at the end of fiscal 2023. Total subscriptions adjusted for the multi-user trade-in increased approximately 603 thousand from fiscal 2022 to 6.25 million. Subscription plan subscriptions increased 724 thousand from the end of fiscal 2022 to 6.74 million at the end of fiscal 2023.GAAP operating income was $989 million, compared to $618 million last year. GAAP operating margin was 20 percent, up 6 percentage points.Total non-GAAP operating income was $1.79 billion compared to $1.40 billion last year. Non-GAAP operating margin was 36 percent, up 4 percentage points.GAAP diluted net income per share was $3.78, compared to $2.24 last year. Non-GAAP diluted net income per share was $6.63, compared to $5.07 last year.Cash flow from operating activities increased to $2.07 billion, compared to $1.53 billion in fiscal 2022. Free cash flow increased to $2.03 billion, compared to $1.48 billion in fiscal 2022.  +Net Revenue by Geographic Area +Fiscal Year Ended January 31, 2023 +Fiscal Year Ended January 31, 2022 +Change compared to +prior fiscal year +Constant currency change compared to prior fiscal year +(In millions, except percentages) (1) +$ +% +% +Net Revenue: +Americas +U.S. +$                 1,720 +$               1,457 +$           263 +18 % +* +Other Americas +372 +308 +64 +21 % +* +Total Americas +2,092 +1,765 +327 +19 % +18 % +EMEA +1,906 +1,700 +206 +12 % +13 % +APAC +1,007 +921 +86 +9 % +13 % +Total Net Revenue +$                5,005 +$              4,386 +$           619 +14 % +15 % +____________________ +*  Constant currency data not provided at this level. +(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.  +  +Net Revenue by Product Family +Our product offerings are focused in four primary product families: AEC, AutoCAD and AutoCAD LT, MFG, and M&E. +Fiscal Year Ended +Change compared to +prior fiscal year +(In millions, except percentages) (1) +January 31, 2023 +January 31, 2022 +$ +% +AEC (2) +$                2,278 +$                 1,969 +$          309 +16 % +AutoCAD and AutoCAD LT (2) +1,387 +1,244 +143 +11 % +MFG +978 +876 +102 +12 % +M&E +291 +259 +32 +12 % +Other +71 +38 +33 +87 % +Total Net Revenue +$               5,005 +$                 4,386 +$           619 +14 % +____________________  +(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances. +(2) During the current fiscal year, the Company corrected an immaterial classification error and reclassified certain revenue amounts between Architecture, Engineering and Construction and AutoCAD and AutoCAD LT.  The fiscal year ended January 31, 2022 has been adjusted to conform to the current period presentation. These reclassifications did not impact total net revenue.  +Business Outlook +The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement." Autodesk's business outlook for the first quarter and full-year fiscal 2024 takes into consideration the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2023 GAAP and non-GAAP estimates is provided below or in the tables later in this document. +First Quarter Fiscal 2024  +Q1 FY24 Guidance Metrics +Q1 FY24(ending April 30, 2023) +Revenue (in millions) +$1,260 - $1,275 +EPS GAAP +$0.74 - $0.80 +EPS non-GAAP (1) +$1.50- $1.56 +________________ +(1) Non-GAAP earnings per diluted share excludes $0.75 related to stock-based compensation expense, $0.09 for the amortization of purchased intangibles, $0.01 for acquisition-related costs, partially offset by ($0.09) related to GAAP-only tax charges. +  +Full-Year Fiscal 2024  +FY24 Guidance Metrics +FY24(ending January 31, 2024) +Billings (in millions) (1) +$5,025 - $5,175Down 13% - 11% +Revenue (in millions) (2) +$5,355 - $5,455Up 7% - 9% +GAAP operating margin +Approx. flat year over year +Non-GAAP operating margin (3) +Approx. flat year over year +EPS GAAP +$3.63 - $3.97 +EPS non-GAAP (4) +$6.98 - $7.32 +Free cash flow (in millions) (5) +$1,150 - $1,250 +________________ +(1) Excluding the approximate 2 ppt impact of foreign currency exchange rates and hedge gains/losses, billings guidance would be down 11% to 9%. +(2) Excluding the approximate 4 ppt impact of foreign currency exchange rates and hedge gains/losses, revenue guidance would be up 11% to 13%. +(3) Non-GAAP operating margin excludes approximately 13% related to stock-based compensation expense, approximately 2% for the amortization of purchased intangibles and less than 1% related to acquisition-related costs. +(4) Non-GAAP earnings per diluted share excludes $3.31 related to stock-based compensation expense, $0.37 for the amortization of purchased intangibles, and $0.02 related to acquisition-related costs, partially offset by ($0.35) related to GAAP-only tax charges. +(5) Free cash flow is cash flow from operating activities less approximately $35 million of capital expenditures. +The first quarter and full-year fiscal 2024 outlook assume a projected annual effective tax rate of 24 percent for GAAP and 18 percent for non-GAAP results, respectively. Shifts in geographic profitability continue to impact the annual effective tax rate due to significant differences in tax rates in various jurisdictions. As such, assumptions for the annual effective tax rate are evaluated regularly and may change based on the projected geographic mix of earnings. +Earnings Conference Call and Webcast +Autodesk will host its fourth quarter conference call today at 5 p.m. ET. The live broadcast can be accessed at autodesk.com/investor. A transcript of the opening commentary will also be available following the conference call.  +A replay of the broadcast will be available at 7 p.m. ET at autodesk.com/investor. This replay will be maintained on Autodesk's website for at least 12 months. +Investor Presentation Details +An investor presentation, excel financials and other supplemental materials providing additional information can be found at autodesk.com/investor. +Key Performance Metrics +To help better understand our financial performance, we use several key performance metrics including billings, recurring revenue, net revenue retention rate ("NR3") and subscriptions. These metrics are key performance metrics and should be viewed independently of revenue and deferred revenue. These metrics are not intended to be combined with those items. We use these metrics to monitor the strength of our recurring business. We believe these metrics are useful to investors because they can help in monitoring the long-term health of our business. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP. +Glossary of Terms +Billings: Total revenue plus the net change in deferred revenue from the beginning to the end of the period.  +Cloud Service Offerings: Represents individual term-based offerings deployed through web browser technologies or in a hybrid software and cloud configuration. Cloud service offerings that are bundled with other product offerings are not captured as a separate cloud service offering. +Constant Currency (CC) Growth Rates: We attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates as well as eliminating hedge gains or losses recorded within the current and comparative periods. We calculate constant currency growth rates by (i) applying the applicable prior period exchange rates to current period results and (ii) excluding any gains or losses from foreign currency hedge contracts that are reported in the current and comparative periods.  +Design Business: Represents the combination of maintenance, product subscriptions, and all EBAs. Main products include, but are not limited to, AutoCAD, AutoCAD LT, Industry Collections, Revit, Inventor, Maya, and 3ds Max. Certain products, such as our computer aided manufacturing solutions, incorporate both Design and Make functionality and are classified as Design. +Enterprise Business Agreements (EBAs): Represents programs providing enterprise customers with token-based access to a broad pool of Autodesk products over a defined contract term.  +Free Cash Flow: Cash flow from operating activities minus capital expenditures.  +Industry Collections: Autodesk Industry Collections are a combination of products and services that target a specific user objective and support a set of workflows for that objective. Our Industry Collections consist of: Autodesk Architecture, Engineering and Construction Collection, Autodesk Product Design and Manufacturing Collection, and Autodesk Media and Entertainment Collection. +Maintenance Plan: Our maintenance plans provide our customers with a cost effective and predictable budgetary option to obtain the productivity benefits of our new releases and enhancements when and if released during the term of their contracts. Under our maintenance plans, customers are eligible to receive unspecified upgrades when and if available, and technical support. We recognize maintenance revenue over the term of the agreements, generally one year.     +Make Business: Represents certain cloud-based product subscriptions. Main products include, but are not limited to, Assemble, Autodesk Build, BuildingConnected, Fusion 360, and ShotGrid. Certain products, such as Fusion 360, incorporate both Design and Make functionality and are classified as Make. +Net Revenue Retention Rate (NR3): Measures the year-over-year change in Recurring Revenue for the population of customers that existed one year ago ("base customers").  Net revenue retention rate is calculated by dividing the current quarter Recurring Revenue related to base customers by the total corresponding quarter Recurring Revenue from one year ago. Recurring Revenue is based on USD reported revenue, and fluctuations caused by changes in foreign currency exchange rates and hedge gains or losses have not been eliminated. Recurring Revenue related to acquired companies, one year after acquisition, has been captured as existing customers until such data conforms to the calculation methodology. This may cause variability in the comparison. +Other Revenue: Consists of revenue from consulting, training and other products and services, and is recognized as the products are delivered and services are performed.  +Product Subscription: Provides customers a flexible, cost-effective way to access and manage 3D design, engineering, and entertainment software tools. Our product subscriptions currently represent a hybrid of desktop and cloud functionality, which provides a device-independent, collaborative design workflow for designers and their stakeholders.   +Recurring Revenue: Consists of the revenue for the period from our traditional maintenance plans, our subscription plan offerings, and certain Other revenue. It excludes subscription revenue related to third-party products. Recurring revenue acquired with the acquisition of a business is captured when total subscriptions are captured in our systems and may cause variability in the comparison of this calculation.     +Remaining Performance Obligations (RPO): The sum of total short-term, long-term, and unbilled deferred revenue. Current remaining performance obligations is the amount of revenue we expect to recognize in the next twelve months.   +Spend: The sum of cost of revenue and operating expenses.  +Subscription Plan: Comprises our term-based product subscriptions, cloud service offerings, and EBAs. Subscriptions represent a combined hybrid offering of desktop software and cloud functionality which provides a device-independent, collaborative design workflow for designers and their stakeholders. With subscription, customers can use our software anytime, anywhere, and get access to the latest updates to previous versions.   +Subscription Revenue: Includes our cloud-enabled term-based product subscriptions, cloud service offerings, and flexible EBAs.   +Total Subscriptions: Consists of subscriptions from our maintenance plans and subscription plan offerings that are active and paid as of the fiscal year end date. For certain cloud service offerings and EBAs, subscriptions represent the monthly average activity reported within the last three months of the fiscal quarter end date. Total subscriptions do not include education offerings, consumer product offerings, select Creative Finishing product offerings, Autodesk Buzzsaw, Autodesk Constructware, and third-party products. Subscriptions acquired with the acquisition of a business are captured once the data conforms to our subscription count methodology and when added, may cause variability in comparison of this calculation. +Unbilled Deferred Revenue: Unbilled deferred revenue represents contractually stated or committed orders under early renewal and multi-year billing plans for subscription, services, and maintenance for which the associated deferred revenue has not been recognized. Under FASB Accounting Standards Codification ("ASC") Topic 606, unbilled deferred revenue is not included as a receivable or deferred revenue on our Consolidated Balance Sheet.   +Safe Harbor Statement +This press release contains forward-looking statements that involve risks and uncertainties, including quotations from management, statements in the paragraphs under "Business Outlook" above, statements about our short-term and long-term goals, statements regarding our strategies, market and product positions, performance and results, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our strategy to develop and introduce new products and services, and to move to platforms and capabilities, exposing us to risks such as limited customer acceptance, costs related to product defects, and large expenditures; global economic and political conditions, including foreign exchange headwinds, recessionary fears, supply chain disruptions, resulting inflationary pressures and hiring conditions; costs and challenges associated with strategic acquisitions and investments; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks including risks related to the war against Ukraine launched by Russia and our exit from Russia; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives; net revenue, billings, earnings, cash flow, or subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings; our ability to maintain security levels and service performance meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; security incidents or other incidents compromising the integrity of our or our customers' offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors. Our estimates as to tax rate are based on current tax law, including current interpretations of the Tax Cuts and Jobs Act, and could be affected by changing interpretations of that Act, as well as additional legislation and guidance around that Act. +Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K and subsequent forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. +About Autodesk +Autodesk is changing how the world is designed and made. Our technology spans architecture, engineering, construction, product design, manufacturing, media and entertainment, empowering innovators everywhere to solve challenges big and small. From greener buildings to smarter products to more mesmerizing blockbusters, Autodesk software helps our customers to design and make a better world for all. For more information visit autodesk.com or follow @autodesk. +Autodesk uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts. +Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are registered trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. +© 2023 Autodesk, Inc. All rights reserved. +  +Autodesk, Inc. +Condensed Consolidated Statements of Operations +(In millions, except per share data) (1) +Three Months Ended January 31, +Fiscal Year Ended January 31, +2023 +2022 +2023 +2022 +(Unaudited) +Net revenue (2): +Subscription +$             1,214 +$                1,093 +$            4,651 +$           4,060 +Maintenance +14 +22 +65 +76 +    Total subscription and maintenance revenue +1,228 +1,115 +4,716 +4,136 +Other +90 +96 +289 +250 +Total net revenue +1,318 +1,211 +5,005 +4,386 +Cost of revenue: +Cost of subscription and maintenance revenue +90 +80 +343 +299 +Cost of other revenue +20 +19 +79 +67 +Amortization of developed technologies +14 +13 +58 +52 +Total cost of revenue +124 +112 +480 +418 +Gross profit +1,194 +1,099 +4,525 +3,968 +Operating expenses: +Marketing and sales +439 +428 +1,745 +1,623 +Research and development +313 +290 +1,219 +1,115 +General and administrative +155 +228 +532 +572 +Amortization of purchased intangibles +10 +10 +40 +40 +Total operating expenses +917 +956 +3,536 +3,350 +Income from operations +277 +143 +989 +618 +Interest and other expense, net +— +(36) +(43) +(53) +Income before income taxes +277 +107 +946 +565 +Benefit (provision) for income taxes +16 +(18) +(123) +(68) +Net income +$               293 +$                     89 +$              823 +$               497 +Basic net income per share +$              1.36 +$                  0.41 +$              3.81 +$              2.26 +Diluted net income per share +$              1.35 +$                 0.40 +$             3.78 +$              2.24 +Weighted average shares used in computing basic net income per share +216 +219 +216 +220 +Weighted average shares used in computing diluted net income per share +217 +221 +218 +222 +____________________  +(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances. +(2) In current fiscal year, the Company changed its presentation of certain subscription plan offerings in our Condensed Consolidated Statement of Operations. Revenue from subscription plan offerings in which the customer does not utilize the cloud functionality or that do not incorporate substantial cloud functionality, previously recorded in "Subscription" have been reclassified to "Other" and "Maintenance," as applicable.  Accordingly, prior period amounts have been reclassified to conform to the current period presentation, in all material respects. These reclassifications did not impact total net revenue. +  +Autodesk, Inc. +Condensed Consolidated Balance Sheets +(In millions) (1) +January 31, 2023 +January 31, 2022 +(Unaudited) +ASSETS +Current assets: +Cash and cash equivalents +$               1,947 +$               1,528 +Marketable securities +125 +236 +Accounts receivable, net +961 +716 +Prepaid expenses and other current assets +308 +284 +Total current assets +3,341 +2,764 +Long-term marketable securities +102 +45 +Computer equipment, software, furniture and leasehold improvements, net +144 +162 +Operating lease right-of-use assets +245 +305 +Intangible assets, net +407 +494 +Goodwill +3,625 +3,604 +Deferred income taxes, net +1,014 +741 +Long-term other assets +560 +492 +Total assets +$              9,438 +$              8,607 +LIABILITIES AND STOCKHOLDERS' EQUITY +Current liabilities: +Accounts payable +$                  102 +$                   121 +Accrued compensation +358 +341 +Accrued income taxes +33 +30 +Deferred revenue +3,203 +2,863 +Operating lease liabilities +85 +87 +Current portion of long-term notes payable, net +— +350 +Other accrued liabilities +219 +217 +Total current liabilities +4,000 +4,009 +Long-term deferred revenue +1,377 +927 +Long-term operating lease liabilities +300 +346 +Long-term income taxes payable +164 +20 +Long-term deferred income taxes +32 +29 +Long-term notes payable, net +2,281 +2,278 +Long-term other liabilities +139 +149 +Stockholders' equity: +Common stock and additional paid-in capital +3,325 +2,923 +Accumulated other comprehensive loss +(185) +(124) +Accumulated deficit +(1,995) +(1,950) +Total stockholders' equity +1,145 +849 +Total liabilities and stockholders' equity +$              9,438 +$              8,607 +____________________  +(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances. +  +Autodesk, Inc. +Condensed Consolidated Statements of Cash Flows +(In millions) (1) +Fiscal Year Ended January 31, +2023 +2022 +(Unaudited) +Operating activities: +Net income +$                823 +$               497 +Adjustments to reconcile net income to net cash provided by operating activities: +Depreciation, amortization and accretion +150 +148 +Stock-based compensation expense +657 +555 +Deferred income taxes +(277) +(8) +Lease-related asset impairments +34 +104 +Other operating activities +(8) +18 +Changes in operating assets and liabilities, net of business combinations: +Accounts receivable +(247) +(66) +Prepaid expenses and other assets +(3) +(134) +Accounts payable and other liabilities +(5) +10 +Deferred revenue +798 +419 +Accrued income taxes +149 +(12) +Net cash provided by operating activities +2,071 +1,531 +Investing activities: +Purchases of marketable securities +(397) +(311) +Sales of marketable securities +152 +12 +Maturities of marketable securities +298 +26 +Purchases of intangible assets (2) +(6) +(11) +Business combinations, net of cash acquired +(96) +(1,250) +Capital expenditures +(40) +(56) +Other investing activities +(54) +(5) +Net cash used in investing activities +(143) +(1,595) +Financing activities: +Proceeds from issuance of common stock, net of issuance costs +124 +114 +Taxes paid related to net share settlement of equity awards +(160) +(194) +Repurchase and retirement of common stock +(1,101) +(1,079) +Proceeds from debt, net of discount +— +997 +Repayment of debt +(350) +— +Other financing activities +— +(7) +Net cash used in financing activities +(1,487) +(169) +Effect of exchange rate changes on cash and cash equivalents +(22) +(11) +Net increase (decrease) in cash and cash equivalents +419 +(244) +Cash and cash equivalents at beginning of the period +1,528 +1,772 +Cash and cash equivalents at end of the period +$             1,947 +$             1,528 +____________________ +(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances. +(2) The line description was changed from "Purchases of developed technologies" to "Purchases of intangible assets".  +  +Autodesk, Inc. +Reconciliation of GAAP financial measures to non-GAAP financial measures +(In millions, except per share data) (2) +To supplement our condensed consolidated financial statements presented on a GAAP basis, we provide investors with certain non-GAAP measures including non-GAAP operating margin, non-GAAP income from operations, non-GAAP diluted net income per share, and free cash flow. For our internal budgeting and resource allocation process and as a means to evaluate period-to-period comparisons, we use non-GAAP measures to supplement our condensed consolidated financial statements presented on a GAAP basis. These non-GAAP measures do not include certain items that may have a material impact upon our future reported financial results. We use non-GAAP measures in making operating decisions because we believe those measures provide meaningful supplemental information regarding our earning potential and performance for management by excluding certain expenses and charges that may not be indicative of our core business operating results.  For the reasons set forth below, we believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by our institutional investors and the analyst community to help them analyze the health of our business. This allows investors and others to better understand and evaluate our operating results and future prospects in the same manner as management, compare financial results across accounting periods and to those of peer companies and to better understand the long-term performance of our core business. We also use some of these measures for purposes of determining company-wide incentive compensation. +There are limitations in using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which charges are excluded from the non-GAAP financial measures. We compensate for these limitations by analyzing current and future results on a GAAP basis as well as a non-GAAP basis and also by providing GAAP measures in our public disclosures. The presentation of non-GAAP financial information is meant to be considered in addition to, not as a substitute for or in isolation from, the directly comparable financial measures prepared in accordance with GAAP. We urge investors to review the reconciliation of our non-GAAP financial measures to the comparable GAAP financial measures included in this presentation, and not to rely on any single financial measure to evaluate our business. +The following table shows Autodesk's GAAP results reconciled to non-GAAP results included in this release. +Three Months Ended January 31, +Fiscal Year Ended January 31, +2023 +2022 +2023 +2022 +(Unaudited) +(Unaudited) +GAAP operating margin +21 % +12 % +20 % +14 % +Stock-based compensation expense +12 % +12 % +13 % +13 % +Amortization of developed technologies +1 % +1 % +1 % +1 % +Amortization of purchased intangibles +1 % +1 % +1 % +1 % +Acquisition-related costs +— % +— % +— % +1 % +Lease-related asset impairments and other charges +1 % +9 % +1 % +2 % +Non-GAAP operating margin (1) +36 % +35 % +36 % +32 % +GAAP income from operations +$               277 +$            143 +$           989 +$           618 +Stock-based compensation expense +164 +146 +660 +559 +Amortization of developed technologies +12 +12 +53 +50 +Amortization of purchased intangibles +10 +10 +40 +40 +Acquisition-related costs +3 +6 +10 +26 +Lease-related asset impairments and other charges +13 +104 +33 +104 +Non-GAAP income from operations +$              479 +$            421 +$        1,785 +$        1,397 +GAAP diluted net income per share +$              1.35 +$          0.40 +$          3.78 +$          2.24 +Stock-based compensation expense +0.76 +0.66 +3.03 +2.52 +Amortization of developed technologies +0.05 +0.05 +0.24 +0.22 +Amortization of purchased intangibles +0.04 +0.05 +0.18 +0.18 +Acquisition-related costs +0.02 +0.03 +0.05 +0.11 +Lease-related asset impairments and other charges +0.06 +0.47 +0.15 +0.47 +Loss (gain) on strategic investments and dispositions, net +0.04 +0.05 +— +(0.01) +Discrete GAAP tax items +0.15 +(0.05) +0.13 +(0.32) +Release of valuation allowance on deferred tax assets +(0.18) +— +(0.18) +— +Income tax effect of non-GAAP adjustments +(0.43) +(0.16) +(0.75) +(0.34) +Non-GAAP diluted net income per share +$              1.86 +$           1.50 +$          6.63 +$          5.07 +Net cash provided by operating activities +$               911 +$            722 +$        2,071 +$         1,531 +Capital expenditures +(8) +(6) +(40) +(56) +Free cash flow +$              903 +$            716 +$        2,031 +$        1,475 +____________________ +(1)  Totals may not sum due to rounding. +(2)  In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances. +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/autodesk-inc-announces-fiscal-2023-fourth-quarter-and-full-year-results-301754839.html +SOURCE Autodesk, Inc. + + diff --git a/news/ADSK/2023.02.23/Marketmind: Blue chips cheered up.txt b/news/ADSK/2023.02.23/Marketmind: Blue chips cheered up.txt new file mode 100644 index 0000000000000000000000000000000000000000..cb3a4a3182d882c01523d9d7bb948b66fa8fbf12 --- /dev/null +++ b/news/ADSK/2023.02.23/Marketmind: Blue chips cheered up.txt @@ -0,0 +1 @@ +For markets increasingly wary of the inflation and interest rate implications of re-accelerating world growth, the positive of a new burst of economic confidence in the tech sector adds some cheer at least. The new year craze in artificial intelligence and chatbots seems to have electrified chip designer Nvidia, whose stock surged more than 8% before the bell after it forecast first-quarter revenue above Wall St estimates late Wednesday.Its CEO Jensen Huang said use of its chips to power AI had "gone through the roof in the last 60 days."The world's largest supplier of chips used in data centers for training AI has become a key hardware supplier for large tech companies such as Microsoft Corp that are building services like chat-powered search engines.Chip stocks rose around the world on Thursday in the slipstream of Nvidia's earnings report. S&P500 stock futures jumped about 0.5% and back above 4,000 points ahead of the open.If the AI boom is one vignette in a world economy that appears to be skirting widely-forecast recession and regenerating some momentum, then the interest rate implications are considerable - not just in how high they go, but how long they stay up there. The Federal Reserve at least seems keen on the higher-for-longer message that's shaken world stock and bond markets this week.While most Fed policymakers rallied behind a decision to further slow the pace of interest rate hikes at its last policy meeting - suggesting some still saw another half-point rate rise as warranted - minutes from the meeting showed they all saw curbing unacceptably high inflation as the "key factor".Bond yields rose following the release of the minutes and the U.S. dollar also advanced.And as the minutes pre-date red-hot jobs and retail data for January, the message from Fed officials is probably even sterner now. New York Federal Reserve Bank President John Williams on Wednesday said the Fed is "absolutely" committed to bringing inflation back down to its 2% target over the next few years, by bringing demand down in line with constrained supply.The signals from other central banks were similar. Bank of England interest rate-setter Catherine Mann said on Thursday that it was too soon to sound the all clear on inflation and the BoE should continue to raise borrowing costs.Investors seem to be taking all that on board. A Reuters poll of equity analysts showed global stock markets are expected to correct in the next three months.The Feb. 10-22 poll of more than 150 strategists, analysts and fund mangers covering 17 global stock indices, found that 56% were expecting their local market to fall in the next three months. A total of 48 out of 86 respondents said the chances of a correction were either high or very high. But well chosen recovery stocks continue to do well. British engineering firm Rolls-Royce surged 18.1% on Thursday after the company's CEO forecast more profit growth in 2023 after last year's beat. A key factor was optimism around civil aerospace, the firm's biggest division, as travel recovers from the pandemic.Key developments that may provide direction to U.S. markets later on Thursday:* US Q4 GDP revision and corporate profits estimate; weekly jobless claims; Kansas City Fed Feb business index; Chicago Fed Jan business index * San Francisco Federal Reserve President Mary Daly, Atlanta Fed President Raphael Bostic speak; Bank of Spain Governor Pablo Hernandez de Cos speaks* G20 finance ministers and central bankers meet in Bengaluru in southern India; Japan chairs separate G7 finance chiefs meeting* U.S. Treasury sells 7-year notes* U.S. corp earnings: Intuit, Edison, Booking, Moderna, Alliant Energy, Autodesk, Teleflex, Newmont, Warner Bros Discovery, PG&E, Domino's, American Tower, American Electric Power, Keurig Dr Pepper, CBRE, Evergy etc GRAPHICS:U.S. natural gas prices drop lowest since Sept. 2020 https://www.reuters.com/graphics/USA-NATGAS/zjvqjykmxpx/chart.pngUS mortgage demand growth https://www.reuters.com/graphics/USA-STOCKS/zdvxdxobdvx/mba.png2022 was worst year for chip stocks since 2008 crisis https://www.reuters.com/graphics/TEXASINSTRUMENT-RESULTS/jnvwywdxqvw/chart.pngBanking on value https://www.reuters.com/graphics/GLOBAL-MARKETS/znpnbxewzpl/chart.png (By Mike Dolan, editing by Christina Fincher mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/ADSK/2023.02.24/Bad surprise.txt b/news/ADSK/2023.02.24/Bad surprise.txt new file mode 100644 index 0000000000000000000000000000000000000000..4d756925f13faa50eab0fe9c59a3af4c3fc53057 --- /dev/null +++ b/news/ADSK/2023.02.24/Bad surprise.txt @@ -0,0 +1,37 @@ + +The personal consumption expenditures report was released at 8:30 a.m. ET, and gave further clarity on the state of price pressures in America. +The PCE price index excluding food and energy rose 0.6% for the month, and was up 4.7% from a year ago, the Commerce Department revealed. Including the volatile food and energy components, headline inflation gained 0.6% and 5.4% respectively. + +Once again, this data is seen by investors as a potential tipping point for the markets. Until the next potential tipping point, since the market loves to rely on this type of milestone. In reality, the consequences are rarely binary. Let's look at what we're talking about and what it means. +The US publishes two main types of monthly inflation. CPI inflation, which measures overall price changes and is published the second week after the end of the month. And the so-called PCE inflation, ten days later. PCE stands for "Personal Consumption Expenditures". It focuses on the prices paid by individuals for goods and services, which makes it possible to refine consumption patterns. It is apparently the inflation measure that the Fed looks at the most, precisely the one called "Core PCE", which excludes the impact of energy and food. +Today's data is much higher than anticipated, since economists expected that Core PCE inflation would rise by 0.4% between December and January, for an annual change of 4.3%, down from December’s 4.4%. A quick reminder: just because the price increase is higher from one month to the next does not necessarily mean that the year-on-year change is higher, because the basis of comparison is different. +Higher-than-expected inflation was the worst possible surprise, because investors now fear that the Fed will raise rates beyond current projections, or even over a longer time frame. +In other news, corporate results remain robust and yesterday boosted most indices. In Europe, markets rich in cyclical stocks benefited, with modest gains in Paris, Frankfurt, Milan and Madrid. Initially hesitant, Wall Street was up, thanks in particular to a Nasdaq spurred on by the semiconductor pocket, after the solid prospects of Nvidia, whose stock soared by 14%. On the other hand, Hong Kong was weighed down by Alibaba's results. +  +Today's economic highlights: +US household income and spending and PCE inflation are today’s main indicators. All the agenda is here. This morning, Japan announced annual inflation of 4.2%, slightly lower than expected. +The dollar is slightly up to EUR 0.9461 and GBP 0.8351. The ounce of gold remains under pressure at 1816 dollars. Oil is waking up, with North Sea Brent at USD 82.57 a barrel and US WTI light crude at USD 76.09. The yield on 10-year US debt falls back a bit to 3.87%. Bitcoin retreats below USD 24,000. +  +In corporate news : +* Boeing lost nearly 3 percent in premarket trading after announcing the temporary suspension of deliveries of the 787 Dreamliner in order to conduct additional testing of a fuselage component, the U.S. Federal Aviation Administration (FAA) said Thursday night. +* Adobe lost 3.5 percent in premarket trading after Bloomberg reported that the U.S. Justice Department is set to block the Photoshop maker's $20 billion (€18.87 billion) takeover of Figma. +* Warner Bros Discovery is down 2.14% in after-hours trading after it reported a $2.1 billion fourth-quarter net loss Thursday night, partly related to a restructuring charge following the merger of Discovery with AT&T's WarnerMedia division. +* Beyond Meat jumped 14.3% in pre-market trading as the "vegetable meat" specialist anticipated full-year sales above analysts' expectations and further cost control. +* Block (formerly Square) gained 2.07% in after-hours trading as the payment services company said Thursday night it expects adjusted EBITDA to rise 30% to about $1.3 billion this year. +* Autodesk fell 3% in after-hours trading after the company issued a forecast for annual revenue growth of between 7% and 9%, compared with the Refinitiv consensus of 9.03%. +  +Analyst recommendations: + +Domino's Pizza: Baird downgrades to neutral from outperform. PT up 3.9% to $320. +Imax: Morningstar downgrades Imax to Hold from Buy, $19 Price Target. +Integer: Piper Sandler initiated coverage with a recommendation of overweight. PT up 15% to $85. +LyondellBasell: RBC Capital Markets upgrades to outperform from sector perform. PT up 37% to $130. +Moderna: Morgan Stanley lowers PT to $185 from $205. Maintains equal-weight rating. +Netapp - Credit Suisse lowers its recommendation to "neutral" from "outperform"  +NVidia - Goldman Sachs raised its recommendation to "buy" from "neutral"  +Stericycle: Baird downgrades to neutral from outperform. PT up 8.5% to $53. +W.W. Grainger: RBC Capital Markets upgrades to sector perform from underperform. PT up 3.2% to $679. +Yeti Holdings: Jefferies lowers PT to $57 from $75. Maintains buy rating. + +  + diff --git a/news/AEP/2023.01.09/Bill Gates considers W.Va. to expand nuclear energy efforts.txt b/news/AEP/2023.01.09/Bill Gates considers W.Va. to expand nuclear energy efforts.txt new file mode 100644 index 0000000000000000000000000000000000000000..fe33d28e75a300297e1c4de3520e5a59d2fe6f05 --- /dev/null +++ b/news/AEP/2023.01.09/Bill Gates considers W.Va. to expand nuclear energy efforts.txt @@ -0,0 +1 @@ +GLASGOW, W.Va. (AP) — Bill Gates is looking to West Virginia as he plans for the next phase of his effort to reboot U.S. nuclear energy technology: powering the east coast.Microsoft co-founder Gates, who visited a closed down coal-fired plant in Glasgow, West Virginia on Monday, said he needs to see how his Natrium nuclear reactor demonstration in Wyoming performs before making any announcements about new sites. The Kemmerer, Wyoming sodium-cooled nuclear reactor is taking over the site of a current coal-powered plant and was scheduled to be online by 2028, but is facing delays because its only source of fuel was uranium from Russia, now at war with Ukraine.However, during a visit to the American Electric Power plant, which closed in 2015, Gates called the West Virginia’s Legislature’s decision last year to repeal the state’s ban on nuclear power facilities “quite impressive" and said he's looking for sites to expand his efforts to the east coast.West Virginia’s new law has opened the door to discussions with American Electric Power during the last six months, said Gates, who founded TerraPower, the company behind the $4 billion project in Wyoming.“Really, I think six months ago we really weren’t on their radar much at all, nuclear wasn’t, but the Legislature did say, ‘Okay, we’re open-minded to nuclear’ and that was quite impressive,” he said of the American Electric Power plant, known as AEP.The Wyoming coal-fired power plant that is being converted for the sodium-cooled nuclear reactor is scheduled to close in 2025, when Gates said its 200 employees will stay on and transition to working with nuclear energy. The demonstration project comes as many U.S. states see nuclear emerging as an option to help transition energy production away from coal, oil and natural gas to reduce greenhouse gas emissions.The Wyoming plant will feature a sodium reactor and molten salt energy storage system that will perform better, more safely and cost less than a traditional nuclear power, Gates said.TerraPower CEO Chris Levesque said sites like the Glasgow plant are “ready and capable" to support a plant like Natrium because the company can take advantage of existing infrastructure, like the grid connection.“You can get a two-year jump on this one — this is ready to go now,” Democratic Sen. Manchin joked, as he accompanied Gates on a tour of the plant in Glasgow.The coal-fired plant, known as the Kanawha River Plant, is located along the Kanawha River in Glasgow, about 20 miles (32 kilometers) southeast from Charleston. It went into operation in 1953 and was retired in May 2015 as part of AEP’s plan to comply with the U.S. EPA’s Mercury and Air Toxics Standards.Gates said that as the Wyoming project matures, it will be more clear how efforts can be expanded to new sites and will give utility companies the time needed to look at their overall strategy and see how and if nuclear power fits in.“We hope to say, three years from now, have a couple of utilities that have a pretty solid plan and that Natrium is a part of their multi-decade generation strategy,” he said.An Associated Press survey last year of the energy policies in all 50 states and the District of Columbia found that a strong majority— about two-thirds— say nuclear, in one fashion or another, will help take the place of fossil fuels. The momentum building behind nuclear power could lead to the first expansion of nuclear reactor construction in the U.S. in more than three decades.Kanawha Valley Regional Transportation Authority bus driver Anthony Smith's grandparents lived in Glasgow, and both his parents worked at the plant before it closed. He said the town of less than 1,000 is in need of a boost.“This town needs rejuvenating, honestly. It was different back then, you know?" he said. “I'd love to see things back how they used to be, that's probably what a lot of people feel anywhere they're from that has an area that's struggling, they just want to see it get better.”Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AEP/2023.01.11/Aep named one of america's most just companies for third consecutive year, ranked first...txt b/news/AEP/2023.01.11/Aep named one of america's most just companies for third consecutive year, ranked first...txt new file mode 100644 index 0000000000000000000000000000000000000000..992a4e533c777f1d9df48ee4a0fe30e6c9b1e45a --- /dev/null +++ b/news/AEP/2023.01.11/Aep named one of america's most just companies for third consecutive year, ranked first...txt @@ -0,0 +1 @@ +COLUMBUS, Ohio - American Electric Power (Nasdaq: AEP) has been named to the JUST 100 2023 list, which recognizes America's best corporate citizens, and received the top ranking in the utilities category.The JUST 100 identifies companies that set the standard in commitment to their stakeholders. JUST Capital, in partnership with CNBC, assessed 951 of the nation's largest publicly traded companies across 20 stakeholder-focused issues identified through public opinion research. Companies were evaluated on their performance in job creation; diversity, equity and inclusion; worker health and safety; environmental sustainability and other metrics.'Whether it's reducing our carbon footprint, building an engaged, inclusive workforce or enabling economic development opportunities, AEP is focused on delivering energy solutions that empower our customers and communities,' said Julie Sloat, president and chief executive officer of AEP. 'We're proud to be recognized as an industry leader for corporate accountability practices and remain committed to innovating as we work to meet the changing expectations of our customers, communities and investors.'Learn more about AEP's corporate accountability strategy.American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP's approximately 16,700 employees operate and maintain the nation's largest electricity transmission system and more than 224,000 miles of distribution lines to safely deliver reliable and affordable power to 5.5 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 7,100 megawatts of renewable energy. The company's plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2032. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and has committed to achieving net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. For more information, visit aep.com.Contact:AEP CORPORATE HEADQUARTERS1 Riverside PlazaColumbus, OH, USAT: 43215-2372T: 614-716-1000(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AEP/2023.02.02/Aep names burbure vice president of ferc and rto strategy & policy.txt b/news/AEP/2023.02.02/Aep names burbure vice president of ferc and rto strategy & policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..79728c07adc9a09a38c10fe6b283bb5fb980243f --- /dev/null +++ b/news/AEP/2023.02.02/Aep names burbure vice president of ferc and rto strategy & policy.txt @@ -0,0 +1 @@ +COLUMBUS, Ohio - American Electric Power (Nasdaq: AEP) has named Stacey Burbure vice president, FERC and RTO Strategy and Policy, effective Feb. 4. Burbure replaces Amanda Conner, who now serves as chief of staff to Julie Sloat, AEP's president and chief executive officer.Burbure, 43, most recently served as senior counsel, transmission policy and rates. She will be responsible for leading AEP's regulatory and policy efforts at the Federal Energy Regulatory Commission (FERC) and Regional Transmission Organizations (RTOs) as the company develops the electric system of the future to best serve its customers. She will report to Antonio Smyth, senior vice president - Grid Solutions.'Stacey has spent nearly 20 years working with regulators on complex regulatory and policy issues that affect every electricity customer. Her extensive knowledge and experience will serve our customers well as AEP is investing in electric transmission infrastructure and new sources of generation to serve our customers with safe and reliable electricity,' Smyth said.Prior to joining AEP in 2019, Burbure served as senior counsel, focusing on transmission issues, for an investor-owned utility. Previously, she was senior counsel to the North American Electric Reliability Corporation where she acted as lead counsel to the Reliability Standards Committee. Stacey began her career in the energy field in 2003 in private practice.Burbure earned her bachelor's degree from Swarthmore College and her law degree from George Washington University Law School. She is a board member of the Charitable Foundation of the Energy Bar Association.American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP's approximately 17,000 employees operate and maintain the nation's largest electricity transmission system and more than 224,000 miles of distribution lines to safely deliver reliable and affordable power to 5.5 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 6,900 megawatts of renewable energy. The company's plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2032. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and has committed to achieving net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. For more information, visit aep.com.Contact:AEP CORPORATE HEADQUARTERS1 Riverside PlazaColumbus, OH, USAT: 43215-2372T: 614-716-1000(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AEP/2023.02.14/Aep and liberty file new ferc 203 application for approval of kentucky sale.txt b/news/AEP/2023.02.14/Aep and liberty file new ferc 203 application for approval of kentucky sale.txt new file mode 100644 index 0000000000000000000000000000000000000000..9aaab7bbc0e6680e2bcd3d0a8769693b02f3042f --- /dev/null +++ b/news/AEP/2023.02.14/Aep and liberty file new ferc 203 application for approval of kentucky sale.txt @@ -0,0 +1 @@ +American Electric Power (Nasdaq: AEP) and Liberty, an indirect subsidiary of Algonquin Power & Utilities Corp., today filed a new application with the Federal Energy Regulatory Commission (FERC) under section 203 of the Federal Power Act seeking approval of the sale of AEP's Kentucky operations to Liberty.The companies are asking FERC for expedited review of the application as they work to close the transaction by April 26, 2023. In December 2022, FERC denied approval of the sale without prejudice and outlined the additional information about customer protections needed to obtain approval.AEP and Liberty are committed to the sale and are requesting FERC's accelerated review of the application so customers in eastern Kentucky can begin benefiting from the transaction,' said Julie Sloat, AEP president and chief executive officer. 'In addition to the Kentucky sale, AEP remains focused on advancing the strategic initiatives we have outlined, including the sale of our competitive renewables portfolio and the strategic review of our retail business. These actions are consistent with the equity financing plan, operating earnings guidance and long-term growth rate of 6-7% announced at our analyst day last October.'The new 203 application addresses the concerns raised in FERC's December 2022 order and demonstrates that there will be no adverse impact on FERC-jurisdictional customer rates as a result of the transaction. The new application outlines several financial measures Liberty will take for the next five years which include: maintaining the return on equity; maintaining the current cost cap on equity; financing future credit investment at the current credit rating and capping certain operating and administrative costs.FERC approval will enable benefits to retail customers in eastern Kentucky and boost economic growth in the region. This includes the following benefits that were part of the Kentucky Public Service Commission's order approving the transaction: $40 million fund to help offset volatile fuel rates through 2023A 'rate holiday' on the collection of the Big Sandy decommissioning rider for three yearsMore than 100 new jobs and expanded local management and customer service, including a new call center in the Kentucky service territory.Finalization of the transaction is subject to FERC approval and federal clearance pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976.American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP's approximately 17,000 employees operate and maintain the nation's largest electricity transmission system and more than 224,000 miles of distribution lines to safely deliver reliable and affordable power to 5.5 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 6,900 megawatts of renewable energy. The company's plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2032. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and has committed to achieving net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle).Contact:Tel: 1-800-277-2177(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AEP/2023.02.23/Aep : Q4 Earnings Snapshot.txt b/news/AEP/2023.02.23/Aep : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..d7214fbde7f169b0d059f7dbf660e15703138126 --- /dev/null +++ b/news/AEP/2023.02.23/Aep : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — American Electric Power Co. (AEP) on Thursday reported fourth-quarter earnings of $384.3 million.On a per-share basis, the Columbus, Ohio-based company said it had net income of 75 cents. Earnings, adjusted for non-recurring costs, were $1.05 per share.The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share.The utility posted revenue of $4.88 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $4.26 billion.For the year, the company reported profit of $2.31 billion, or $4.51 per share. Revenue was reported as $19.64 billion.AEP expects full-year earnings in the range of $5.19 to $5.39 per share.AEP shares have decreased slightly more than 4% since the beginning of the year, while the S&P's 500 index has increased nearly 4%. The stock has risen roughly 6% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AEP at https://www.zacks.com/ap/AEPFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/AEP/2023.02.23/Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm ...txt b/news/AEP/2023.02.23/Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm ...txt new file mode 100644 index 0000000000000000000000000000000000000000..d33a0722a82caa591b593585198918d4459bc0a7 --- /dev/null +++ b/news/AEP/2023.02.23/Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm ...txt @@ -0,0 +1,31 @@ + +Global solar leader Lightsource bp and AEP Energy Partners (AEPEP), a subsidiary of American Electric Power (Nasdaq: AEP) and one of the largest wholesale energy suppliers in the country, have signed a power purchase agreement (PPA) for a 188 megawatt (dc) solar project located in New Carlisle about 10 miles west of South Bend, Indiana. + +Once complete, the Honeysuckle Solar project will generate enough clean energy annually to power 27,000 U.S. homes and will reduce carbon dioxide emissions by 204,000 metric tons each year. + +“AEP Energy Partners is proud to provide customers with integrated, carbon-free energy that fulfills their sustainability goals, delivers long-term price stability, and benefits the environment. Our partnership with Lightsource bp demonstrates our commitment to the development of new renewable resources that both empower local communities and support a cleaner, brighter energy future,” said Greg Hall, Executive Vice President & Chief Commercial Officer, AEP. + +Lightsource bp will finance, build, own and operate the facility and sell the solar energy it generates to AEP Energy Partners under a long-term PPA. Construction of the project has been initiated on site, with commercial operation starting in 2024. South Bend based Inovateus Solar LLC is the construction contractor for the facility, with a focus on utilizing local labor for the mechanical, electrical and civil work on site. + +“This power purchase agreement is a great example of how energy buyers with sustainability goals such as AEP Energy Partners can work with us to spur the buildout of new solar projects that will improve the health and energy security of communities across America while helping strengthen local economies. As the owner and operator of the Honeysuckle solar farm, we look forward to bringing economic and environmental benefits to the region, along with fostering community partnerships,” said Kevin Smith, Lightsource bp’s CEO of the Americas. + +Economic benefits + +The Honeysuckle solar farm will: + +Protecting the environment + +Lightsource bp and AEP Energy Partners have a common mission to deliver affordable, reliable electricity to communities, while protecting the environment. While the primary purpose of solar is to reduce carbon emissions from electricity generation in order to mitigate climate change, Lightsource bp extends the benefits of solar energy further through their Responsible Solar approach. The goal is to build multiuse solar projects on which clean energy generation, agriculture, habitat and biodiversity enhancement share the land under and around the solar panels. + +As part of this Responsible Solar approach, an action plan is underway for the Honeysuckle Solar project to achieve biodiversity net gains and foster pollinator habitat – ensuring that Honeysuckle will be a pollinator friendly solar farm. + +Learn more about multiuse solar. + +About Lightsource bp + +Lightsource bp is a global leader in the development and management of solar energy and energy storage projects and a 50:50 joint venture with bp. For more than a decade, Lightsource bp has delivered affordable, safe and sustainable energy to businesses and communities around the world. Their team includes nearly 1,000 industry experts, working in 19 countries, providing full scope development for projects, from initial site selection, financing and permitting to long-term management of solar projects and energy sales to their customers. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Austin, Philadelphia and Atlanta and staff in more than 25 states. Since 2019, the team has brought into operation or initiated construction on 3.2 gigawatts of U.S. solar projects with capital costs of nearly $4 billion across 11 states in America. For more information visit www.lightsourcebp.com/us. + +About AEP and AEP Energy Partners + +American Electric Power (Nasdaq: AEP) subsidiaries AEP Renewables, AEP Energy, OnSite Partners, and AEP Energy Partners, deliver a wide array of innovative competitive energy solutions nationwide. As one of the largest wholesale suppliers in the country, AEP Energy Partners specializes in offering customized wholesale power supply products based on the specific needs of customers’ electric systems within ERCOT, MISO, PJM and SPP. AEP Energy Partners also sells renewable energy through long-term contracts with utilities, electric cooperatives, municipalities and corporate customers. With a commitment to a clean energy future, AEP’s competitive businesses currently own over 1,500 megawatts of wind, solar and energy storage on both a utility scale and distributed scale basis. Solving energy problems for customers, AEP OnSite Partners and its competitive affiliates own and operate over 75 behind-the-meter projects in 22 different states and have an active development pipeline across the U.S. As a competitive retail electricity and natural gas supplier, AEP Energy serves over 700,000 residential and business customers in 28 service territories in six states and Washington, D.C. Based in Columbus, Ohio, Chicago, Illinois and San Diego, California, AEP’s family of competitive companies takes pride in making it easy for customers and partners to buy, manage and use energy. Learn more about AEP Energy Partners. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005791/en/ \ No newline at end of file diff --git a/news/AEP/2023.02.23/Marketmind: Blue chips cheered up.txt b/news/AEP/2023.02.23/Marketmind: Blue chips cheered up.txt new file mode 100644 index 0000000000000000000000000000000000000000..cb3a4a3182d882c01523d9d7bb948b66fa8fbf12 --- /dev/null +++ b/news/AEP/2023.02.23/Marketmind: Blue chips cheered up.txt @@ -0,0 +1 @@ +For markets increasingly wary of the inflation and interest rate implications of re-accelerating world growth, the positive of a new burst of economic confidence in the tech sector adds some cheer at least. The new year craze in artificial intelligence and chatbots seems to have electrified chip designer Nvidia, whose stock surged more than 8% before the bell after it forecast first-quarter revenue above Wall St estimates late Wednesday.Its CEO Jensen Huang said use of its chips to power AI had "gone through the roof in the last 60 days."The world's largest supplier of chips used in data centers for training AI has become a key hardware supplier for large tech companies such as Microsoft Corp that are building services like chat-powered search engines.Chip stocks rose around the world on Thursday in the slipstream of Nvidia's earnings report. S&P500 stock futures jumped about 0.5% and back above 4,000 points ahead of the open.If the AI boom is one vignette in a world economy that appears to be skirting widely-forecast recession and regenerating some momentum, then the interest rate implications are considerable - not just in how high they go, but how long they stay up there. The Federal Reserve at least seems keen on the higher-for-longer message that's shaken world stock and bond markets this week.While most Fed policymakers rallied behind a decision to further slow the pace of interest rate hikes at its last policy meeting - suggesting some still saw another half-point rate rise as warranted - minutes from the meeting showed they all saw curbing unacceptably high inflation as the "key factor".Bond yields rose following the release of the minutes and the U.S. dollar also advanced.And as the minutes pre-date red-hot jobs and retail data for January, the message from Fed officials is probably even sterner now. New York Federal Reserve Bank President John Williams on Wednesday said the Fed is "absolutely" committed to bringing inflation back down to its 2% target over the next few years, by bringing demand down in line with constrained supply.The signals from other central banks were similar. Bank of England interest rate-setter Catherine Mann said on Thursday that it was too soon to sound the all clear on inflation and the BoE should continue to raise borrowing costs.Investors seem to be taking all that on board. A Reuters poll of equity analysts showed global stock markets are expected to correct in the next three months.The Feb. 10-22 poll of more than 150 strategists, analysts and fund mangers covering 17 global stock indices, found that 56% were expecting their local market to fall in the next three months. A total of 48 out of 86 respondents said the chances of a correction were either high or very high. But well chosen recovery stocks continue to do well. British engineering firm Rolls-Royce surged 18.1% on Thursday after the company's CEO forecast more profit growth in 2023 after last year's beat. A key factor was optimism around civil aerospace, the firm's biggest division, as travel recovers from the pandemic.Key developments that may provide direction to U.S. markets later on Thursday:* US Q4 GDP revision and corporate profits estimate; weekly jobless claims; Kansas City Fed Feb business index; Chicago Fed Jan business index * San Francisco Federal Reserve President Mary Daly, Atlanta Fed President Raphael Bostic speak; Bank of Spain Governor Pablo Hernandez de Cos speaks* G20 finance ministers and central bankers meet in Bengaluru in southern India; Japan chairs separate G7 finance chiefs meeting* U.S. Treasury sells 7-year notes* U.S. corp earnings: Intuit, Edison, Booking, Moderna, Alliant Energy, Autodesk, Teleflex, Newmont, Warner Bros Discovery, PG&E, Domino's, American Tower, American Electric Power, Keurig Dr Pepper, CBRE, Evergy etc GRAPHICS:U.S. natural gas prices drop lowest since Sept. 2020 https://www.reuters.com/graphics/USA-NATGAS/zjvqjykmxpx/chart.pngUS mortgage demand growth https://www.reuters.com/graphics/USA-STOCKS/zdvxdxobdvx/mba.png2022 was worst year for chip stocks since 2008 crisis https://www.reuters.com/graphics/TEXASINSTRUMENT-RESULTS/jnvwywdxqvw/chart.pngBanking on value https://www.reuters.com/graphics/GLOBAL-MARKETS/znpnbxewzpl/chart.png (By Mike Dolan, editing by Christina Fincher mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/AEP/2023.02.24/American Electric Power - AEP REPORTS STRONG 2022 EARNINGS RESULTS.txt b/news/AEP/2023.02.24/American Electric Power - AEP REPORTS STRONG 2022 EARNINGS RESULTS.txt new file mode 100644 index 0000000000000000000000000000000000000000..cb602884bb8d8356871eafcf25f5d44db2fda031 --- /dev/null +++ b/news/AEP/2023.02.24/American Electric Power - AEP REPORTS STRONG 2022 EARNINGS RESULTS.txt @@ -0,0 +1 @@ +American Electric Power (Nasdaq: AEP) today reported fourth-quarter 2022 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $384 million or $0.75 per share, compared with GAAP earnings of $539 million or $1.07 per share in fourth-quarter 2021.Operating earnings for fourth-quarter 2022 were $540 million or $1.05 per share, compared with operating earnings of $496 million or $0.98 per share in fourth-quarter 2021. Operating earnings is a non-GAAP measure representing GAAP earnings excluding special items.Year-end 2022 GAAP earnings were $2.3 billion or $4.51 per share, compared with GAAP earnings of $2.5 billion or $4.97 per share for year-end 2021. Year-end 2022 operating earnings were $2.6 billion or $5.09 per share, compared with operating earnings of $2.4 billion or $4.74 per share for year-end 2021.A full reconciliation of GAAP earnings to operating earnings for the quarter and year-to-date is included in the tables at the end of this news release.Our focus on building a safe, reliable and cleaner energy system for the future while keeping rates affordable and attracting new business to our service territory is delivering benefits for our customers, communities and investors,' said Julie Sloat, AEP president and chief executive officer.AEP is leading one of the largest clean energy transformations in the country with our current plan to add more than 15 gigawatts of new renewable resources over the next decade. This transition allows us to add fuel-free generation for the benefit of our customers. At the same time, the $26 billion we plan to invest in our transmission and distribution systems over the next five years will help ensure the continued delivery of safe, reliable and affordable power to serve our communities,' Sloat said.We're strengthening our focus on these regulated investments and de-risking the business through active management of our portfolio, including the agreement that we announced yesterday to sell 1,365 megawatts of unregulated contracted renewables. We expect to close on that sale in the second quarter of 2023. We continue working closely with Liberty to complete the sale process of our Kentucky operations, filing a new FERC 203 application earlier this month and requesting expedited approval of the transaction. We also remain committed to completing the strategic review of our retail business in the first half of this year.We're seeing the tangible benefits of our long-term, strategic economic development program, despite global economic uncertainty and inflationary cost pressures. Two-thirds of our industrial load growth in 2022 was directly tied to our previous economic development efforts. Bringing new jobs and growth to our communities also helps maintain affordability as we make critical investments in the energy system,' Sloat said.EARNINGS GUIDANCEAEP management reaffirms its 2023 operating earnings guidance range of $5.19 to $5.39 per share. Operating earnings could differ from GAAP earnings for matters such as divestitures, impairments or changes in accounting principles. AEP management is not able to forecast if any of these items will occur or any amounts that may be reported for future periods. Therefore, AEP is not able to provide a corresponding GAAP equivalent for earnings guidance.WEBCASTAEP's quarterly discussion with financial analysts and investors will be broadcast live over the internet at 9 a.m. Eastern today at http://www.aep.com/webcasts. The webcast will include audio of the discussion and visuals of charts and graphics referred to by AEP management. The charts and graphics will be available for download at http://www.aep.com/webcasts.AEP's earnings are prepared in accordance with accounting principles generally accepted in the United States and represent the company's earnings as reported to the Securities and Exchange Commission. The company's operating earnings, a non-GAAP measure representing GAAP earnings excluding special items as described in the news release and charts, provide another representation for investors to evaluate the performance of the company's ongoing business activities. AEP uses operating earnings as the primary performance measurement when communicating with analysts and investors regarding its earnings outlook and results. The company uses operating earnings data internally to measure performance against budget, to report to AEP's Board of Directors and also as an input in determining performance-based compensation under the company's employee incentive compensation plans.American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP's approximately 17,000 employees operate and maintain the nation's largest electricity transmission system and more than 225,000 miles of distribution lines to safely deliver reliable and affordable power to 5.6 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 6,900 megawatts of renewable energy. The company's plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2032. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and has committed to achieving net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle).This report made by American Electric Power and its Registrant Subsidiaries contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although AEP and each of its Registrant Subsidiaries believe that their expectations are based on reasonable assumptions, any such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are: changes in economic conditions, electric market demand and demographic patterns in AEP service territories; the impact of pandemics and any associated disruption of AEP's business operations due to impacts on economic or market conditions, costs of compliance with potential government regulations, electricity usage, supply chain issues, customers, service providers, vendors and suppliers; the economic impact of increased global trade tensions including the conflict between Russia and Ukraine, and the adoption or expansion of economic sanctions or trade restrictions; inflationary or deflationary interest rate trends; volatility and disruptions in the financial markets precipitated by any cause, including failure to make progress on federal budget or debt ceiling matters, particularly developments affecting the availability or cost of capital to finance new capital projects and refinance existing debt; the availability and cost of funds to finance working capital and capital needs, particularly if expected sources of capital, such as proceeds from the sale of assets or subsidiaries, do not materialize, and during periods when the time lag between incurring costs and recovery is long and the costs are material; decreased demand for electricity; weather conditions, including storms and drought conditions, and AEP's ability to recover significant storm restoration costs; the cost of fuel and its transportation, the creditworthiness and performance of fuel suppliers and transporters and the cost of storing and disposing of used fuel, including coal ash and spent nuclear fuel; the availability of fuel and necessary generation capacity and the performance of generation plants; AEP's ability to recover fuel and other energy costs through regulated or competitive electric rates; the ability to transition from fossil generation and the ability to build or acquire renewable generation, transmission lines and facilities (including the ability to obtain any necessary regulatory approvals and permits) when needed at acceptable prices and terms, including favorable tax treatment, and to recover those costs; new legislation, litigation and government regulation, including changes to tax laws and regulations, oversight of nuclear generation, energy commodity trading and new or heightened requirements for reduced emissions of sulfur, nitrogen, mercury, carbon, soot or particulate matter and other substances that could impact the continued operation, cost recovery, and/or profitability of generation plants and related assets; the impact of federal tax legislation on results of operations, financial condition, cash flows or credit ratings; the risks associated with fuels used before, during and after the generation of electricity and the byproducts and wastes of such fuels, including coal ash and spent nuclear fuel; timing and resolution of pending and future rate cases, negotiations and other regulatory decisions, including rate or other recovery of new investments in generation, distribution and transmission service and environmental compliance; resolution of litigation; AEP's ability to constrain operation and maintenance costs; prices and demand for power generated and sold at wholesale; changes in technology, particularly with respect to energy storage and new, developing, alternative or distributed sources of generation; AEP's ability to recover through rates any remaining unrecovered investment in generation units that may be retired before the end of their previously projected useful lives; volatility and changes in markets for coal and other energy-related commodities, particularly changes in the price of natural gas; the impact of changing expectations and demands of customers, regulators, investors and stakeholders, including heightened emphasis on environmental, social and governance concerns; changes in utility regulation and the allocation of costs within regional transmission organizations, including ERCOT, PJM and SPP; changes in the creditworthiness of the counterparties with contractual arrangements, including participants in the energy trading market; actions of rating agencies, including changes in the ratings of debt; the impact of volatility in the capital markets on the value of the investments held by AEP's pension, other postretirement benefit plans, captive insurance entity and nuclear decommissioning trust and the impact of such volatility on future funding requirements; accounting standards periodically issued by accounting standard-setting bodies; other risks and unforeseen events, including wars and military conflicts, the effects of terrorism (including increased security costs), embargoes, naturally occurring and human-caused fires, cyber security threats and other catastrophic events and the ability to attract and retain the requisite work force and key personnel.Contact:Tammy RidoutTel: 614/716-2347(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/ALGN/2023.01.03/Align Technology to Announce Fourth Quarter and 2022 Results on February 1, 2023.txt b/news/ALGN/2023.01.03/Align Technology to Announce Fourth Quarter and 2022 Results on February 1, 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..f307a860583b0db3ac76e13adf7b622b10a7e34e --- /dev/null +++ b/news/ALGN/2023.01.03/Align Technology to Announce Fourth Quarter and 2022 Results on February 1, 2023.txt @@ -0,0 +1,20 @@ + +Align Technology, Inc. (Nasdaq: ALGN), a leading global medical device company that designs, manufactures, and sells the Invisalign® system of clear aligners, iTero™ intraoral scanners, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry, today announced that it will report fourth quarter and 2022 financial results on Wednesday, February 1, 2023, after the close of market. Financial results will be released at 4:00 p.m. ET (2:00 p.m. MT) and will be available on the Investor Relations section of the Align website at http://investor.aligntech.com. + +Following the press release, Align will host a conference call to discuss its financial results. The conference call will begin at 4:30 p.m. ET (2:30 p.m. MT) and will also be available as an audio webcast live via the Internet. To access the webcast, please visit http://investor.aligntech.com. To access the conference call, please dial 844-200-6205 with access code 659082 approximately fifteen minutes prior to the start of the call. For international callers, please dial 929-526-1599 with the same access code referenced above. + +An archived audio webcast will be available beginning approximately one hour after the call's conclusion and will remain available for one month. Additionally, a telephonic replay of the call can be accessed by dialing 866-813-9403 with access code 328900. The replay must be accessed from international locations by dialing 929-458-6194 using the same access code referenced above. The telephonic replay will be available through 5:30 p.m. ET on February 15, 2023. + +For planning purposes, Align is also announcing tentative earnings release dates for fiscal 2023. The official earnings date for each quarter will be announced separately with the corresponding conference call information. + +Fiscal Quarters Tentative Dates +First-quarter 2023 (Q1'23) Wednesday, April 26, 2023 +Second-quarter 2023 (Q2'23) Wednesday, July 26, 2023 +Third-quarter 2023 (Q3'23) Wednesday, October 25, 2023 + +About Align Technology, Inc. + +Align Technology designs and manufactures the Invisalign® system, the most advanced clear aligner system in the world, iTero™ intraoral scanners and services, and exocad™ CAD/CAM software. These technology building blocks enable enhanced digital orthodontic and restorative workflows to improve patient outcomes and practice efficiencies for over 234 thousand doctor customers and is key to accessing Align’s 500 million consumer market opportunity worldwide. Over the past 25 years, Align has helped doctors treat 14 million patients with the Invisalign system and is driving the evolution in digital dentistry through the Align Digital Platform™, our integrated suite of unique, proprietary technologies and services delivered as a seamless, end-to-end solution for patients and consumers, orthodontists and GP dentists, and lab/partners. Visit www.aligntech.com for more information. + +For additional information about the Invisalign system or to find an Invisalign doctor in your area, please visit www.invisalign.com. For additional information about the iTero digital scanning system, please visit www.itero.com. For additional information about exocad dental CAD/CAM offerings and a list of exocad reseller partners, please visit www.exocad.com. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005067/en/ \ No newline at end of file diff --git a/news/ALGN/2023.02.01/Align Technology : Q4 Earnings Snapshot.txt b/news/ALGN/2023.02.01/Align Technology : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..d8368e75ba024e0ccee4bea5a409cb3aaf4fcdb4 --- /dev/null +++ b/news/ALGN/2023.02.01/Align Technology : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +TEMPE, Ariz. (AP) _ Align Technology Inc. (ALGN) on Wednesday reported fourth-quarter earnings of $41.8 million.The Tempe, Arizona-based company said it had net income of 54 cents per share. Earnings, adjusted for pretax expenses and stock option expense, came to $1.73 per share.The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.The maker of the Invisalign tooth-straightening system posted revenue of $901.5 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $889.3 million.For the year, the company reported profit of $361.6 million, or $4.61 per share. Revenue was reported as $3.73 billion.Align Technology shares have increased 34% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $282.53, a drop of 44% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALGN at https://www.zacks.com/ap/ALGNCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/ALGN/2023.02.01/Align Technology Announces Fourth Quarter and Fiscal 2022 Financial Results.txt b/news/ALGN/2023.02.01/Align Technology Announces Fourth Quarter and Fiscal 2022 Financial Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..70e6adfcc17a73742879889af7543986358a4e99 --- /dev/null +++ b/news/ALGN/2023.02.01/Align Technology Announces Fourth Quarter and Fiscal 2022 Financial Results.txt @@ -0,0 +1,8308 @@ + +Align Technology, Inc. (Nasdaq: ALGN), a leading global medical device company that designs, manufactures, and sells the Invisalign® system of clear aligners, iTero™ intraoral scanners, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry, today reported financial results for the fourth quarter ("Q4'22") and year ended December 31, 2022 ("2022"). Q4'22 total revenues were $901.5 million, up 1.3% sequentially and down 12.6% year-over-year. Q4'22 Clear Aligner revenues were $731.7 million, flat sequentially and down 10.3% year-over-year. Q4'22 Clear Aligner volume was up 1.1% sequentially and down 7.5% year-over-year. Q4'22 Imaging Systems and CAD/CAM Services revenues were $169.9 million, up 7.8% sequentially and down 21.3% year-over-year. Q4’22 Clear Aligner revenues were unfavorably impacted by foreign exchange of approximately $13.4 million or 1.8% sequentially and approximately $56.4 million or 7.2% year over year.(1) Q4'22 Imaging Systems and CAD/CAM Services revenues were unfavorably impacted by foreign exchange of approximately $2.7 million or 1.5% sequentially and approximately $11.2 million or 6.2% year over year.(1) Q4'22 operating income was $112.7 million resulting in an operating margin of 12.5%. Q4'22 operating margin was unfavorably impacted by foreign exchange of approximately 0.9 points sequentially and approximately 4.2 points year over year.(1) Q4'22 net income was $41.8 million, or $0.54 per diluted share. On a non-GAAP basis, Q4'22 net income was $134.2 million, or $1.73 per diluted share. (3) + +During Q4’22, we incurred a total of $14.3 million of restructuring and other charges, of which $2.9 million was included in cost of net revenues and $11.5 million included in operating expenses. Restructuring and other charges included $8.7 million of severance related costs and $5.6 million of certain lease terminations costs and asset impairments. + +2022 Clear Aligner revenues of $3.1 billion were unfavorably impacted by foreign exchange of approximately $160.8 million or 5.0% compared to 2021.(1) 2022 Imaging Systems and CAD/CAM Services revenues of $662.1 million were unfavorably impacted by foreign exchange of approximately $33.0 million or 4.7% compared to 2021.(1) + +In Q4’22, we changed to a long-term projected tax rate in our computation of the non-GAAP income tax provision to provide better consistency across reporting periods. Our previous methodology for calculating our non-GAAP effective tax rate included certain non-recurring and period-specific items, that produced fluctuating effective tax rates that management does not believe are reflective of the Company's long-term effective tax rate. We have recast all prior periods in 2022 to reflect this change. We did not make any changes to the results reported for 2021 as reflecting the change in methodology for the computation of the non-GAAP effective tax rate was immaterial to our 2021 results. Refer to the section titled "Recast of Financial Measures for Prior Periods in 2022 for Tax Rate Change" under Unaudited GAAP to Non-GAAP Reconciliation for further information. + +Commenting on Align's Q4'22 and 2022 results, Align Technology President and CEO Joe Hogan said, “Overall, I’m pleased to report fourth quarter results that reflect a more stable environment for doctors and their patients than recent quarters, especially in the Americas and EMEA regions, as well as most APAC markets outside of China. Throughout Q4, trends in consumer interest for orthodontic treatment, patient traffic in doctor’s practices, and iTero™ scanner demos continued to improve. However, the unfavorable effect of foreign exchange on our fourth quarter and full year 2022 results was unprecedented and reduced our revenues and margins significantly. Despite the impact of unfavorable foreign exchange, Q4 revenues of $901.5 million increased sequentially from Q3, reflecting growth in systems and services as well as a slight increase in clear aligner shipments. This is the first quarter in a year that our total revenues and volumes for both scanners and clear aligners increased sequentially. As we move through 2023, I am cautiously optimistic that we will see continued stability and an improving operating environment, but also recognize that the macroeconomic situation is fragile. Regardless, we remain confident in our large, untapped market opportunity for digital orthodontics and restorative dentistry. We anticipate that 2023 will be a very exciting year for Align innovations as we begin to commercialize one of the largest new product and technology cycles in our 25-year history.” + +(1) Non-GAAP measure +(2) The contract was open as of Dec 31, 2022. +(3) In Q4'22, we changed our methodology for the computation of the non-GAAP effective tax rate to a long-term projected tax rate and have given effect to the new methodology from January 1, 2022, and recast the previously reported quarterly periods in 2022. We did not make any changes to the results reported for 2021 as reflecting the change in methodology for the computation of the non-GAAP effective tax rate was immaterial to our 2021 results. Please see section captioned "Recast of Financial Measures for Prior Periods In 2022 For Tax Rate Change" under "Unaudited GAAP to Non-GAAP Reconciliation" for further information. + +Financial Summary - Fourth Quarter Fiscal 2022 + +  + +Q4'22 + +  + +Q3'22 + +  + +Q4'21 + +  + +Q/Q Change + +  + +Y/Y Change + +Invisalign Case Shipments + +  + +583,655 + +  + +  + +577,170 + +  + +  + +631,145 + +  + +  + ++1.1 + +% + +  + +  + +(7.5 + +)% + +GAAP + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Net Revenues + +$ + +901.5M + +  + +$ + +890.3M + +  + +$ + +1,031.1M + +  + +  + ++1.3 + +% + +  + +  + +(12.6 + +)% + +Clear Aligner + +$ + +731.7M + +  + +$ + +732.8M + +  + +$ + +815.3M + +  + +  + +(0.2 + +)% + +  + +  + +(10.3 + +)% + +Imaging Systems and CAD/CAM Services + +$ + +169.9M + +  + +$ + +157.5M + +  + +$ + +215.8M + +  + +  + ++7.8 + +% + +  + +  + +(21.3 + +)% + +Net Income + +$ + +41.8M + +  + +$ + +72.7M + +  + +$ + +191.0M + +  + +  + +(42.5 + +)% + +  + +  + +(78.1 + +)% + +Diluted EPS + +$ + +0.54 + +  + +$ + +0.93 + +  + +$ + +2.40 + +  + +($ + +0.39 + +) + +  + +($ + +1.86 + +) + +Non-GAAP + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Net Income(3) + +$ + +134.2M + +  + +$ + +127.2M + +  + +$ + +224.5M + +  + +  + ++5.5 + +% + +  + +  + +(40.2 + +)% + +Diluted EPS(3) + +$ + +1.73 + +  + +$ + +1.63 + +  + +$ + +2.83 + +  + +  + ++$0.10 + +  + +  + +($ + +1.10 + +) + +Financial Summary - Fiscal 2022 + +  + +2022 + +  + +2021 + +  + +Y/Y Change + +Invisalign Case Shipments + +  + +2,358,645 + +  + +  + +2,547,685 + +  + +  + +(7.4 + +)% + +GAAP + +  + +  + +  + +  + +  + +Net Revenues + +$ + +3,734.6M + +  + +$ + +3,952.6M + +  + +  + +(5.5 + +)% + +Clear Aligner + +$ + +3,072.6M + +  + +$ + +3,247.1M + +  + +  + +(5.4 + +)% + +Imaging Systems and CAD/CAM Services + +$ + +662.1M + +  + +$ + +705.5M + +  + +  + +(6.2 + +)% + +Net Income + +$ + +361.6M + +  + +$ + +772.0M + +  + +  + +(53.2 + +)% + +Diluted EPS + +$ + +4.61 + +  + +$ + +9.69 + +  + +($ + +5.08 + +) + +Non-GAAP + +  + +  + +  + +  + +  + +Net Income(3) + +$ + +608.2M + +  + +$ + +893.5M + +  + +  + +(31.9 + +)% + +Diluted EPS(3) + +$ + +7.76 + +  + +$ + +11.22 + +  + +($ + +3.46 + +) + +(3) In Q4'22, we changed our methodology for the computation of the non-GAAP effective tax rate to a long-term projected tax rate and have given effect to the new methodology from January 1, 2022, and recast the previously reported quarterly periods in 2022. We did not make any changes to the results reported for 2021 as reflecting the change in methodology for the computation of the non-GAAP effective tax rate was immaterial to our 2021 results. Please see section captioned "Recast of Financial Measures for Prior Periods In 2022 For Tax Rate Change" under "Unaudited GAAP to Non-GAAP Reconciliation" for further information. + +As of December 31, 2022, we had over $1.0 billion in cash, cash equivalents and short-term and long-term marketable securities compared to over $1.1 billion as of September 30, 2022. As of December 31, 2022, we had $300.0 million available under a revolving line of credit which was amended during Q4'22 to extend the term through 2027. In October 2022, we purchased approximately 848 thousand shares of our common stock at an average price of $188.62 per share through a $200.0 million Accelerated Share Repurchase under our May 13, 2021 $1.0 billion Stock Repurchase Program. We have $250.0 million remaining available for repurchase under this program and we plan to repurchase this remaining amount starting in Q1 2023 through either, or a combination of, open market repurchases or an accelerated stock repurchase agreement, and entirely completing this $1.0 Billion Stock Repurchase Program in Q2 2023. + +Commenting on Align's 2022 results, Align Technology CFO and EVP Global Finance, John Morici said, “We remain focused on expanding our technology and industry leadership, while making disciplined investments in our strategic growth drivers. We exited fiscal year 2022 with a strong balance sheet, including $1 billion in cash and investments, a healthy cash flow position and no long-term debt. We are pleased to announce that our Board of Directors has authorized a new $1 billion stock repurchase program to succeed the current $1 billion program. This new $1 billion program reflects the strength of our balance sheet and cash flow generation, as well as management’s and our Board's continued confidence in our ability to capitalize on large market opportunities in our target markets and trajectory for growth while concurrently returning capital to our stockholders.” + +Q4'22 Announcement Highlights + +Fiscal 2023 Business Outlook + +For 2023, Align provides the following business outlook: + +Align Web Cast and Conference Call + +We will host a conference call today, February 1, 2023, at 4:30 p.m. ET, 1:30 p.m. PT, to review our fourth quarter and full year 2022 results, discuss future operating trends, and our business outlook. The conference call will also be webcast live via the Internet. To access the webcast, go to the "Events & Presentations" section under Company Information on Align's Investor Relations website at http://investor.aligntech.com. To access the conference call, please dial 844-200-6205 with access code 659082. An archived audio webcast will be available beginning approximately one hour after the call's conclusion and will remain available for approximately one month. Additionally, a telephonic replay of the call can be accessed by dialing 866-813-9403 with access code 328900. For international callers, please dial 929-458-6194 and use the same access code referenced above. The telephonic replay will be available through 5:30 p.m. ET on February 15, 2023. + +About Non-GAAP Financial Measures + +To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States ("GAAP"), we may provide investors with certain non-GAAP financial measures which may include constant currency net revenues, constant currency gross profit, constant currency gross margin, constant currency income from operations, constant currency operating margin, gross profit, gross margin, operating expenses, income from operations, operating margin, interest income and other income (expense), net, net income before provision for income taxes, provision for income taxes, effective tax rate, net income and/or diluted net income per share, which excludes certain items that may not be indicative of our fundamental operating performance including, foreign currency exchange rate impacts and discrete cash and non-cash charges or gains that are included in the most directly comparable GAAP measure. In Q4'22, we changed to a long-term non-GAAP effective tax rate in our computation of the non-GAAP income tax provision to provide better consistency across reporting periods. Our previous methodology for calculating our non-GAAP effective tax rate included certain non-recurring and period-specific items, that produced fluctuating effective tax rates that management does not believe are reflective of the Company's long-term effective tax rate. We have given effect to this new methodology effective January 1, 2022 and recast prior periods in 2022. No changes have been made to 2021, as reflecting the change in methodology for the computation of the non-GAAP effective tax rate was immaterial to our 2021 results. Unless otherwise indicated, when we refer to non-GAAP financial measures they will exclude the effects of stock-based compensation, amortization of certain acquired intangibles, restructuring and other charges, acquisition-related costs, and arbitration award gain, and associated tax impacts. + +Our management believes that the use of certain non-GAAP financial measures provides meaningful supplemental information regarding our recurring core operating performance. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting, and analyzing future periods. We believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by our institutional investors and the analyst community to help them analyze the performance of our business. + +There are limitations to using non-GAAP financial measures as they are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which charges are excluded from the non-GAAP financial measures. We compensate for these limitations by analyzing current and future results on a GAAP as well as a non-GAAP basis and also by providing GAAP measures in our public disclosures. The presentation of non-GAAP financial information is meant to be considered in addition to, not as a substitute for or in isolation from, the directly comparable financial measures prepared in accordance with GAAP. We urge investors to review the reconciliation of our GAAP financial measures to the comparable non-GAAP financial measures included herein and not to rely on any single financial measure to evaluate our business. For more information on these non-GAAP financial measures, please see the tables captioned "Unaudited GAAP to Non-GAAP Reconciliation." + +About Align Technology, Inc. + +Align Technology designs and manufactures the Invisalign® system, the most advanced clear aligner system in the world, iTero™ intraoral scanners and services, and exocad™ CAD/CAM software. These technology building blocks enable enhanced digital orthodontic and restorative workflows to improve patient outcomes and practice efficiencies for over 239 thousand doctor customers and are key to accessing Align’s 500 million consumer market opportunity worldwide. Over the past 25 years, Align has helped doctors treat over 14.5 million patients with the Invisalign system and is driving the evolution in digital dentistry through the Align Digital Platform™, our integrated suite of unique, proprietary technologies and services delivered as a seamless, end-to-end solution for patients and consumers, orthodontists and GP dentists, and lab/partners. Visit www.aligntech.com for more information. + +For additional information about the Invisalign system or to find an Invisalign doctor in your area, please visit www.invisalign.com. For additional information about the iTero digital scanning system, please visit www.itero.com. For additional information about exocad dental CAD/CAM offerings and a list of exocad reseller partners, please visit www.exocad.com. + +Invisalign, iTero, exocad, Align, Align Digital Platform, iTero Element and iTero-exocad Connector are trademarks of Align Technology, Inc. + +Forward-Looking Statements + +This news release, including the tables below, contains forward-looking statements, including statements of beliefs and expectations regarding anticipated capital expenditures, anticipated clear aligner volumes, clear aligner ASPs, iTero scanner and services revenue, total revenues and operating margin, customer and consumer demand trends and market opportunities, our ability to successfully control our business and operations and pursue our strategic growth drivers, our expectations regarding the timing and impact of new products and technologies, our beliefs for the impacts of our stock repurchase programs and our ability to generate cash flow, and our beliefs regarding the trajectory of our business. Forward-looking statements contained in this news release relating to expectations about future events or results are based upon information available to Align as of the date hereof. Readers are cautioned that these forward-looking statements reflect our best judgments based on currently known facts and circumstances and are subject to risks, uncertainties, and assumptions that are difficult to predict. As a result, actual results may differ materially and adversely from those expressed in any forward-looking statement. + +Factors that might cause such a difference include, but are not limited to: + +The foregoing and other risks are detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the Securities and Exchange Commission ("SEC") on February 25, 2022 and our latest Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, which was filed with the SEC on November 4, 2022. Align undertakes no obligation to revise or update publicly any forward-looking statements for any reason. + +ALIGN TECHNOLOGY, INC. + +UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS + +(in thousands, except per share data) + +  + +  + +Three Months Ended +December 31, + +  + +Year Ended + +December 31, + +  + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +Net revenues + +  + +$ + +901,515 + +  + +  + +$ + +1,031,099 + +  + +  + +$ + +3,734,635 + +  + +  + +$ + +3,952,584 + +Cost of net revenues + +  + +  + +283,814 + +  + +  + +  + +286,536 + +  + +  + +  + +1,100,860 + +  + +  + +  + +1,017,229 + +Gross profit + +  + +  + +617,701 + +  + +  + +  + +744,563 + +  + +  + +  + +2,633,775 + +  + +  + +  + +2,935,355 + +Operating expenses: + +  + +  + +  + +  + +  + +  + +  + +  + +Selling, general and administrative + +  + +  + +410,067 + +  + +  + +  + +451,195 + +  + +  + +  + +1,674,469 + +  + +  + +  + +1,708,640 + +Research and development + +  + +  + +83,520 + +  + +  + +  + +72,476 + +  + +  + +  + +305,258 + +  + +  + +  + +250,315 + +Restructuring and other charges + +  + +  + +11,453 + +  + +  + +  + +— + +  + +  + +  + +11,453 + +  + +  + +  + +— + +Total operating expenses + +  + +  + +505,040 + +  + +  + +  + +523,671 + +  + +  + +  + +1,991,180 + +  + +  + +  + +1,958,955 + +Income from operations + +  + +  + +112,661 + +  + +  + +  + +220,892 + +  + +  + +  + +642,595 + +  + +  + +  + +976,400 + +Interest income and other income (expense), net: + +  + +  + +  + +  + +  + +  + +  + +  + +Interest income + +  + +  + +2,760 + +  + +  + +  + +676 + +  + +  + +  + +5,367 + +  + +  + +  + +3,103 + +Other income (expense), net + +  + +  + +(100 + +) + +  + +  + +(1,556 + +) + +  + +  + +(48,905 + +) + +  + +  + +32,920 + +Total interest income and other income (expense), net + +  + +  + +2,660 + +  + +  + +  + +(880 + +) + +  + +  + +(43,538 + +) + +  + +  + +36,023 + +Net income before provision for income taxes + +  + +  + +115,321 + +  + +  + +  + +220,012 + +  + +  + +  + +599,057 + +  + +  + +  + +1,012,423 + +Provision for income taxes + +  + +  + +73,546 + +  + +  + +  + +29,051 + +  + +  + +  + +237,484 + +  + +  + +  + +240,403 + +Net income + +  + +$ + +41,775 + +  + +  + +$ + +190,961 + +  + +  + +$ + +361,573 + +  + +  + +$ + +772,020 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Net income per share: + +  + +  + +  + +  + +  + +  + +  + +  + +Basic + +  + +$ + +0.54 + +  + +  + +$ + +2.42 + +  + +  + +$ + +4.62 + +  + +  + +$ + +9.78 + +Diluted + +  + +$ + +0.54 + +  + +  + +$ + +2.40 + +  + +  + +$ + +4.61 + +  + +  + +$ + +9.69 + +Shares used in computing net income per share: + +  + +  + +  + +  + +  + +  + +  + +  + +Basic + +  + +  + +77,541 + +  + +  + +  + +78,759 + +  + +  + +  + +78,190 + +  + +  + +  + +78,917 + +Diluted + +  + +  + +77,683 + +  + +  + +  + +79,431 + +  + +  + +  + +78,420 + +  + +  + +  + +79,670 + +ALIGN TECHNOLOGY, INC. + +UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS + +(in thousands) + +  + +  + +December 31, +2022 + +  + +December 31, +2021 + +ASSETS + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Current assets: + +  + +  + +  + +  + +Cash and cash equivalents + +  + +$ + +942,050 + +  + +$ + +1,099,370 + +Marketable securities, short-term + +  + +  + +57,534 + +  + +  + +71,972 + +Accounts receivable, net + +  + +  + +859,685 + +  + +  + +897,198 + +Inventories + +  + +  + +338,752 + +  + +  + +230,230 + +Prepaid expenses and other current assets + +  + +  + +226,370 + +  + +  + +195,305 + +Total current assets + +  + +  + +2,424,391 + +  + +  + +2,494,075 + +  + +  + +  + +  + +  + +Marketable securities, long-term + +  + +  + +41,978 + +  + +  + +125,320 + +Property, plant and equipment, net + +  + +  + +1,231,855 + +  + +  + +1,081,926 + +Operating lease right-of-use assets, net + +  + +  + +118,880 + +  + +  + +121,257 + +Goodwill + +  + +  + +407,551 + +  + +  + +418,547 + +Intangible assets, net + +  + +  + +95,720 + +  + +  + +109,709 + +Deferred tax assets + +  + +  + +1,571,746 + +  + +  + +1,533,767 + +Other assets + +  + +  + +55,826 + +  + +  + +57,509 + +  + +  + +  + +  + +  + +Total assets + +  + +$ + +5,947,947 + +  + +$ + +5,942,110 + +  + +  + +  + +  + +  + +LIABILITIES AND STOCKHOLDERS’ EQUITY + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Current liabilities: + +  + +  + +  + +  + +Accounts payable + +  + +$ + +127,870 + +  + +$ + +163,886 + +Accrued liabilities + +  + +  + +454,374 + +  + +  + +607,315 + +Deferred revenues + +  + +  + +1,343,643 + +  + +  + +1,152,870 + +Total current liabilities + +  + +  + +1,925,887 + +  + +  + +1,924,071 + +  + +  + +  + +  + +  + +Income tax payable + +  + +  + +124,393 + +  + +  + +118,072 + +Operating lease liabilities + +  + +  + +100,334 + +  + +  + +102,656 + +Other long-term liabilities + +  + +  + +195,975 + +  + +  + +174,597 + +Total liabilities + +  + +  + +2,346,589 + +  + +  + +2,319,396 + +  + +  + +  + +  + +  + +Total stockholders’ equity + +  + +  + +3,601,358 + +  + +  + +3,622,714 + +  + +  + +  + +  + +  + +Total liabilities and stockholders’ equity + +  + +$ + +5,947,947 + +  + +$ + +5,942,110 + +ALIGN TECHNOLOGY, INC. + +UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS + +(in thousands) + +  + +  + +Year Ended +December 31, + +  + +  + +2022 + +  + +2021 + +CASH FLOWS FROM OPERATING ACTIVITIES + +  + +  + +  + +  + +Net cash provided by operating activities + +  + +$ + +568,732 + +  + +  + +$ + +1,172,544 + +  + +  + +  + +  + +  + +  + +CASH FLOWS FROM INVESTING ACTIVITIES + +  + +  + +  + +  + +Net cash used in investing activities + +  + +  + +(213,316 + +) + +  + +  + +(563,430 + +) + +  + +  + +  + +  + +  + +CASH FLOWS FROM FINANCING ACTIVITIES + +  + +  + +  + +  + +Net cash used in financing activities + +  + +  + +(501,686 + +) + +  + +  + +(458,332 + +) + +  + +  + +  + +  + +  + +Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash + +  + +  + +(11,514 + +) + +  + +  + +(12,117 + +) + +Net (decrease) increase in cash, cash equivalents, and restricted cash + +  + +  + +(157,784 + +) + +  + +  + +138,665 + +  + +Cash, cash equivalents, and restricted cash at beginning of the period + +  + +  + +1,100,139 + +  + +  + +  + +961,474 + +  + +Cash, cash equivalents, and restricted cash at end of the period + +  + +$ + +942,355 + +  + +  + +$ + +1,100,139 + +  + +ALIGN TECHNOLOGY, INC. + +INVISALIGN BUSINESS METRICS + +  + +  + +Q1 + +  + +Q2 + +  + +Q3 + +  + +Q4 + +  + +Q1 + +  + +Q2 + +  + +Q3 + +  + +Q4 + +  + +  + +2021 + +  + +2021 + +  + +2021 + +  + +2021 + +  + +2022 + +  + +2022 + +  + +2022 + +  + +2022 + +Invisalign Average Selling Price (ASP) + +  + +$ + +1,195 + +  + +$ + +1,185 + +  + +$ + +1,195 + +  + +$ + +1,200 + +  + +$ + +1,250 + +  + +$ + +1,220 + +  + +$ + +1,150 + +  + +$ + +1,140 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Number of Invisalign Trained Doctors Cases Were Shipped To + +  + +  + +78,605 + +  + +  + +83,465 + +  + +  + +85,500 + +  + +  + +83,540 + +  + +  + +82,440 + +  + +  + +82,275 + +  + +  + +84,410 + +  + +  + +82,865 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Invisalign Trained Doctor Utilization Rates*: + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +North America + +  + +  + +9.1 + +  + +  + +9.9 + +  + +  + +9.8 + +  + +  + +9.3 + +  + +  + +9.2 + +  + +  + +9.3 + +  + +  + +8.9 + +  + +  + +8.8 + +North American Orthodontists + +  + +  + +26.8 + +  + +  + +29.4 + +  + +  + +29.7 + +  + +  + +26.9 + +  + +  + +26.8 + +  + +  + +26.8 + +  + +  + +25.9 + +  + +  + +24.8 + +North American GP Dentists + +  + +  + +4.8 + +  + +  + +5.3 + +  + +  + +5.0 + +  + +  + +5.1 + +  + +  + +5.0 + +  + +  + +5.1 + +  + +  + +4.8 + +  + +  + +5.0 + +International + +  + +  + +6.8 + +  + +  + +7.1 + +  + +  + +6.5 + +  + +  + +6.8 + +  + +  + +6.4 + +  + +  + +6.4 + +  + +  + +6.0 + +  + +  + +6.5 + +Total Utilization Rates** + +  + +  + +7.6 + +  + +  + +8.0 + +  + +  + +7.7 + +  + +  + +7.6 + +  + +  + +7.3 + +  + +  + +7.3 + +  + +  + +6.8 + +  + +  + +7.0 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Clear Aligner Revenue Per Case Shipment***: + +  + +$ + +1,265 + +  + +$ + +1,265 + +  + +$ + +1,280 + +  + +$ + +1,290 + +  + +$ + +1,350 + +  + +$ + +1,335 + +  + +$ + +1,270 + +  + +  + +1,255 + +* # of cases shipped / # of doctors to whom cases were shipped + +** LATAM utilization rate is not separately disclosed but included in the total utilization rates + +*** Clear Aligner revenues / Case shipments + +ALIGN TECHNOLOGY, INC. + +STOCK-BASED COMPENSATION + +(in thousands) + +  + +  + +Q1 + +  + +Q2 + +  + +Q3 + +  + +Q4 + +  + +Fiscal + +  + +Q1 + +  + +Q2 + +  + +Q3 + +  + +Q4 + +  + +Fiscal + +  + +  + +2021 + +  + +2021 + +  + +2021 + +  + +2021 + +  + +2021 + +  + +2022 + +  + +2022 + +  + +2022 + +  + +2022 + +  + +2022 + +Stock-based Compensation (SBC): + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +SBC included in Gross Profit + +  + +$ + +1,306 + +  + +$ + +1,418 + +  + +$ + +1,451 + +  + +$ + +1,458 + +  + +$ + +5,633 + +  + +$ + +1,514 + +  + +$ + +1,614 + +  + +$ + +1,651 + +  + +$ + +1,659 + +  + +$ + +6,438 + +SBC included in Operating Expenses + +  + +  + +25,935 + +  + +  + +27,437 + +  + +  + +26,951 + +  + +  + +28,380 + +  + +  + +108,703 + +  + +  + +30,107 + +  + +  + +32,526 + +  + +  + +31,267 + +  + +  + +33,029 + +  + +$ + +126,929 + +Total SBC + +  + +$ + +27,241 + +  + +$ + +28,855 + +  + +$ + +28,402 + +  + +$ + +29,838 + +  + +$ + +114,336 + +  + +$ + +31,621 + +  + +$ + +34,140 + +  + +$ + +32,918 + +  + +$ + +34,688 + +  + +$ + +133,367 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +ALIGN TECHNOLOGY, INC. + +UNAUDITED GAAP TO NON-GAAP RECONCILIATION + +CONSTANT CURRENCY NET REVENUES + +(in thousands, except percentages) + +Sequential constant currency analysis: + +  + +  + +Three Months Ended + +  + +  + +  + +  + +December 31, +2022 + +  + +September 30, + +2022 + +  + +Impact % of +Revenue + +GAAP net revenues + +  + +$ + +901,515 + +  + +$ + +890,348 + +  + +  + +Constant currency impact (1) + +  + +  + +16,023 + +  + +  + +  + +1.7 + +% + +Constant currency net revenues (1) + +  + +$ + +917,538 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP Clear Aligner net revenues + +  + +$ + +731,654 + +  + +$ + +732,837 + +  + +  + +Clear Aligner constant currency impact (1) + +  + +  + +13,362 + +  + +  + +  + +1.8 + +% + +Clear Aligner constant currency net revenues (1) + +  + +$ + +745,016 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP Imaging Systems and CAD/CAM Services net revenues + +  + +$ + +169,861 + +  + +$ + +157,511 + +  + +  + +Imaging Systems and CAD/CAM Services constant currency impact (1) + +  + +  + +2,661 + +  + +  + +  + +1.5 + +% + +Imaging Systems and CAD/CAM Services constant currency net revenues (1) + +  + +$ + +172,522 + +  + +  + +  + +  + +Year-over-year constant currency analysis: + +  + +  + +Three Months Ended + +December 31, + +  + +  + +  + +  + +2022 + +  + +2021 + +  + +Impact % of +Revenue + +GAAP net revenues + +  + +$ + +901,515 + +  + +$ + +1,031,099 + +  + +  + +Constant currency impact (1) + +  + +  + +67,588 + +  + +  + +  + +7.0 + +% + +Constant currency net revenues (1) + +  + +$ + +969,103 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP Clear Aligner net revenues + +  + +$ + +731,654 + +  + +$ + +815,259 + +  + +  + +Clear Aligner constant currency impact (1) + +  + +  + +56,387 + +  + +  + +  + +7.2 + +% + +Clear Aligner constant currency net revenues (1) + +  + +$ + +788,041 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP Imaging Systems and CAD/CAM Services net revenues + +  + +$ + +169,861 + +  + +$ + +215,840 + +  + +  + +Imaging Systems and CAD/CAM Services constant currency impact (1) + +  + +  + +11,201 + +  + +  + +  + +6.2 + +% + +Imaging Systems and CAD/CAM Services constant currency net revenues (1) + +  + +$ + +181,062 + +  + +  + +  + +  + +ALIGN TECHNOLOGY, INC. + +UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED + +CONSTANT CURRENCY NET REVENUES CONTINUED + +(in thousands, except percentages) + +Current year versus prior year constant currency analysis: + +  + +  + +Year Ended December 31, + +  + +  + +  + +  + +2022 + +  + +2021 + +  + +Impact % of +Revenue + +GAAP net revenues + +  + +$ + +3,734,635 + +  + +$ + +3,952,584 + +  + +  + +Constant currency impact (1) + +  + +  + +193,797 + +  + +  + +  + +4.9 + +% + +Constant currency net revenues (1) + +  + +$ + +3,928,432 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP Clear Aligner net revenues + +  + +$ + +3,072,585 + +  + +$ + +3,247,080 + +  + +  + +Clear Aligner constant currency impact (1) + +  + +  + +160,804 + +  + +  + +  + +5.0 + +% + +Clear Aligner constant currency net revenues (1) + +  + +$ + +3,233,389 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP Imaging Systems and CAD/CAM Services net revenues + +  + +$ + +662,050 + +  + +$ + +705,504 + +  + +  + +Imaging Systems and CAD/CAM Services constant currency impact (1) + +  + +  + +32,993 + +  + +  + +  + +4.7 + +% + +Imaging Systems and CAD/CAM Services constant currency net revenues (1) + +  + +$ + +695,043 + +  + +  + +  + +  + +Note: + +(1) + +We define constant currency net revenues as total net revenues excluding the effect of foreign exchange rate movements and use it to determine the percentage for the constant currency impact on net revenues on a sequential, year-over-year and current year versus prior year basis. Constant currency impact in dollars is calculated by translating the current period GAAP net revenues using the foreign currency exchange rates that were in effect during the previous comparable period and subtracting it by the current period GAAP net revenues. The percentage for the constant currency impact on net revenues is calculated by dividing the constant currency impact in dollars (numerator) by constant currency net revenues in dollars (denominator). Refer to "About Non-GAAP Financial Measures" section of press release. + +ALIGN TECHNOLOGY, INC. + +UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED + +CONSTANT CURRENCY GROSS PROFIT AND GROSS MARGIN + +(in thousands, except percentages) + +Sequential constant currency analysis: + +  + +  + +Three Months Ended + +  + +  + +December 31, +2022 + +  + +September 30, +2022 + +GAAP gross profit + +  + +$ + +617,701 + +  + +$ + +619,169 + +Constant currency impact on net revenues + +  + +  + +16,023 + +  + +  + +Constant currency gross profit + +  + +$ + +633,724 + +  + +  + +  + +  + +Three Months Ended + +  + +  + +December 31, +2022 + +  + +September 30, +2022 + +GAAP gross margin + +  + +68.5 + +% + +  + +69.5 + +% + +Gross margin constant currency impact (1) + +  + +0.6 + +  + +  + +  + +Constant currency gross margin (1) + +  + +69.1 + +% + +  + +  + +Year-over-year constant currency analysis: + +  + +  + +Three Months Ended + +December 31, + +  + +  + +2022 + +  + +2021 + +GAAP gross profit + +  + +$ + +617,701 + +  + +$ + +744,563 + +Constant currency impact on net revenues + +  + +  + +67,588 + +  + +  + +Constant currency gross profit + +  + +$ + +685,289 + +  + +  + +  + +  + +Three Months Ended + +December 30, + +  + +  + +2022 + +  + +2021 + +GAAP gross margin + +  + +68.5 + +% + +  + +72.2 + +% + +Gross margin constant currency impact (1) + +  + +2.2 + +  + +  + +  + +Constant currency gross margin (1) + +  + +70.7 + +% + +  + +  + +Note: + +(1) + +We define constant currency gross margin as constant currency gross profit as a percentage of constant currency net revenues. Gross margin constant currency impact is the increase or decrease in constant currency gross margin compared to the GAAP gross margin. + +Refer to "About Non-GAAP Financial Measures" section of press release. + +ALIGN TECHNOLOGY, INC. + +UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED + +CONSTANT CURRENCY INCOME FROM OPERATIONS AND OPERATING MARGIN + +(in thousands, except percentages) + +Sequential constant currency analysis: + +  + +  + +Three Months Ended + +  + +  + +December 31, +2022 + +  + +September 30, +2022 + +GAAP income from operations + +  + +$ + +112,661 + +  + +$ + +143,656 + +Income from operations constant currency impact (1) + +  + +  + +10,698 + +  + +  + +Constant currency income from operations (1) + +  + +$ + +123,359 + +  + +  + +  + +  + +Three Months Ended + +  + +  + +December 31, +2022 + +  + +September 30, +2022 + +GAAP operating margin + +  + +12.5 + +% + +  + +16.1 + +% + +Operating margin constant currency impact (2) + +  + +0.9 + +  + +  + +  + +Constant currency operating margin (2) + +  + +13.4 + +% + +  + +  + +Year-over-year constant currency analysis: + +  + +  + +Three Months Ended + +December 31, + +  + +  + +2022 + +  + +2021 + +GAAP income from operations + +  + +$ + +112,661 + +  + +$ + +220,892 + +Income from operations constant currency impact (1) + +  + +  + +49,320 + +  + +  + +Constant currency income from operations (1) + +  + +$ + +161,981 + +  + +  + +  + +  + +Three Months Ended + +December 31, + +  + +  + +2022 + +  + +2021 + +GAAP operating margin + +  + +12.5 + +% + +  + +21.4 + +% + +Operating margin constant currency impact (2) + +  + +4.2 + +  + +  + +  + +Constant currency operating margin (2) + +  + +16.7 + +% + +  + +  + +ALIGN TECHNOLOGY, INC. + +UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED + +CONSTANT CURRENCY INCOME FROM OPERATIONS AND OPERATING MARGIN CONTINUED + +(in thousands, except percentages) + +Current year versus prior year constant currency analysis: + +  + +  + +Year Ended December 31, + +  + +  + +2022 + +  + +2021 + +GAAP income from operations + +  + +$ + +642,595 + +  + +$ + +976,400 + +Income from operations constant currency impact (1) + +  + +  + +144,079 + +  + +  + +Constant currency income from operations (1) + +  + +$ + +786,674 + +  + +  + +  + +  + +Year Ended December 31, + +  + +  + +2022 + +  + +2021 + +GAAP operating margin + +  + +17.2 + +% + +  + +24.7 + +% + +Operating margin constant currency impact (2) + +  + +2.8 + +  + +  + +  + +Constant currency operating margin (2) + +  + +20.0 + +% + +  + +  + +Notes: + +(1) + +We define constant currency income from operations as GAAP income from operations excluding the effect of foreign exchange rate movements for GAAP net revenues and operating expenses on a sequential, year-over-year and current year versus prior year basis. Constant currency impact in dollars is calculated by translating the current period GAAP net revenues and operating expenses using the foreign currency exchange rates that were in effect during the previous comparable period and subtracting it by the current period GAAP net revenues and operating expenses. + +  + +(2) + +We define constant currency operating margin as constant currency income from operations as a percentage of constant currency net revenues. Operating margin constant currency impact is the increase or decrease in constant currency operating margin compared to the GAAP operating margin. + +  + +Refer to "About Non-GAAP Financial Measures" section of press release. + +ALIGN TECHNOLOGY, INC. + +UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED + +FINANCIAL MEASURES OTHER THAN CONSTANT CURRENCY + +(in thousands, except per share data) + +  + +  + +Three Months Ended +December 31, + +  + +Year Ended + +December 31, + +  + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +GAAP gross profit + +  + +$ + +617,701 + +  + +  + +$ + +744,563 + +  + +  + +$ + +2,633,775 + +  + +  + +$ + +2,935,355 + +  + +Stock-based compensation + +  + +  + +1,659 + +  + +  + +  + +1,458 + +  + +  + +  + +6,438 + +  + +  + +  + +5,633 + +  + +Amortization of intangibles (1) + +  + +  + +2,610 + +  + +  + +  + +2,798 + +  + +  + +  + +10,134 + +  + +  + +  + +9,502 + +  + +Restructuring charges (2) + +  + +  + +2,866 + +  + +  + +  + +— + +  + +  + +  + +2,866 + +  + +  + +  + +— + +  + +Non-GAAP gross profit + +  + +$ + +624,836 + +  + +  + +$ + +748,819 + +  + +  + +$ + +2,653,213 + +  + +  + +$ + +2,950,490 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP gross margin + +  + +  + +68.5 + +% + +  + +  + +72.2 + +% + +  + +  + +70.5 + +% + +  + +  + +74.3 + +% + +Non-GAAP gross margin + +  + +  + +69.3 + +% + +  + +  + +72.6 + +% + +  + +  + +71.0 + +% + +  + +  + +74.6 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP total operating expenses + +  + +$ + +505,040 + +  + +  + +$ + +523,671 + +  + +  + +$ + +1,991,180 + +  + +  + +$ + +1,958,955 + +  + +Stock-based compensation + +  + +  + +(33,029 + +) + +  + +  + +(28,380 + +) + +  + +  + +(126,929 + +) + +  + +  + +(108,703 + +) + +Amortization of intangibles (1) + +  + +  + +(810 + +) + +  + +  + +(933 + +) + +  + +  + +(3,417 + +) + +  + +  + +(3,668 + +) + +Restructuring and other charges (3) + +  + +  + +(11,453 + +) + +  + +  + +— + +  + +  + +  + +(11,453 + +) + +  + +  + +— + +  + +Acquisition-related costs (4) + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +(104 + +) + +Non-GAAP total operating expenses + +  + +$ + +459,748 + +  + +  + +$ + +494,358 + +  + +  + +$ + +1,849,381 + +  + +  + +$ + +1,846,480 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP income from operations + +  + +$ + +112,661 + +  + +  + +$ + +220,892 + +  + +  + +$ + +642,595 + +  + +  + +$ + +976,400 + +  + +Stock-based compensation + +  + +  + +34,688 + +  + +  + +  + +29,838 + +  + +  + +  + +133,367 + +  + +  + +  + +114,336 + +  + +Amortization of intangibles (1) + +  + +  + +3,420 + +  + +  + +  + +3,731 + +  + +  + +  + +13,551 + +  + +  + +  + +13,170 + +  + +Restructuring and other charges (2),(3) + +  + +  + +14,319 + +  + +  + +  + +— + +  + +  + +  + +14,319 + +  + +  + +  + +— + +  + +Acquisition-related costs (4) + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +104 + +  + +Non-GAAP income from operations + +  + +$ + +165,088 + +  + +  + +$ + +254,461 + +  + +  + +$ + +803,832 + +  + +  + +$ + +1,104,010 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP operating margin + +  + +  + +12.5 + +% + +  + +  + +21.4 + +% + +  + +  + +17.2 + +% + +  + +  + +24.7 + +% + +Non-GAAP operating margin + +  + +  + +18.3 + +% + +  + +  + +24.7 + +% + +  + +  + +21.5 + +% + +  + +  + +27.9 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP total interest income and other income (expense), net + +  + +$ + +2,660 + +  + +  + +$ + +(880 + +) + +  + +$ + +(43,538 + +) + +  + +$ + +36,023 + +  + +Arbitration award gain (5) + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +(43,403 + +) + +Non-GAAP total interest income and other income (expense), net + +  + +$ + +2,660 + +  + +  + +$ + +(880 + +) + +  + +$ + +(43,538 + +) + +  + +$ + +(7,380 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP net income before provision for income taxes + +  + +$ + +115,321 + +  + +  + +$ + +220,012 + +  + +  + +$ + +599,057 + +  + +  + +$ + +1,012,423 + +  + +Stock-based compensation + +  + +  + +34,688 + +  + +  + +  + +29,838 + +  + +  + +  + +133,367 + +  + +  + +  + +114,336 + +  + +Amortization of intangibles (1) + +  + +  + +3,420 + +  + +  + +  + +3,731 + +  + +  + +  + +13,551 + +  + +  + +  + +13,170 + +  + +Restructuring and other charges (2),(3) + +  + +  + +14,319 + +  + +  + +  + +— + +  + +  + +  + +14,319 + +  + +  + +  + +— + +  + +Acquisition-related costs (4) + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +104 + +  + +Arbitration award gain (5) + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +(43,403 + +) + +Non-GAAP net income before provision for income taxes + +  + +$ + +167,748 + +  + +  + +$ + +253,581 + +  + +  + +$ + +760,294 + +  + +  + +$ + +1,096,630 + +  + +ALIGN TECHNOLOGY, INC. + +UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED + +FINANCIAL MEASURES OTHER THAN CONSTANT CURRENCY CONTINUED + +(in thousands, except per share data) + +  + +  + +Three Months Ended +December 31, + +  + +Year Ended + +December 31, + +  + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +GAAP provision for income taxes + +  + +$ + +73,546 + +  + +  + +$ + +29,051 + +  + +  + +$ + +237,484 + +  + +  + +$ + +240,403 + +  + +Tax impact on non-GAAP adjustments (6) + +  + +  + +(39,997 + +) + +  + +  + +49 + +  + +  + +  + +(85,426 + +) + +  + +  + +(37,312 + +) + +Non-GAAP provision for income taxes (6) + +  + +$ + +33,549 + +  + +  + +$ + +29,100 + +  + +  + +$ + +152,058 + +  + +  + +$ + +203,091 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP effective tax rate + +  + +  + +63.8 + +% + +  + +  + +13.2 + +% + +  + +  + +39.6 + +% + +  + +  + +23.7 + +% + +Non-GAAP effective tax rate (6) + +  + +  + +20.0 + +% + +  + +  + +11.5 + +% + +  + +  + +20.0 + +% + +  + +  + +18.5 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP net income + +  + +$ + +41,775 + +  + +  + +$ + +190,961 + +  + +  + +$ + +361,573 + +  + +  + +$ + +772,020 + +  + +Stock-based compensation + +  + +  + +34,688 + +  + +  + +  + +29,838 + +  + +  + +  + +133,367 + +  + +  + +  + +114,336 + +  + +Amortization of intangibles (1) + +  + +  + +3,420 + +  + +  + +  + +3,731 + +  + +  + +  + +13,551 + +  + +  + +  + +13,170 + +  + +Restructuring and other charges (2),(3) + +  + +  + +14,319 + +  + +  + +  + +— + +  + +  + +  + +14,319 + +  + +  + +  + +— + +  + +Acquisition-related costs (4) + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +104 + +  + +Arbitration award gain (5) + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +(43,403 + +) + +Tax impact on non-GAAP adjustments (6) + +  + +  + +39,997 + +  + +  + +  + +(49 + +) + +  + +  + +85,426 + +  + +  + +  + +37,312 + +  + +Non-GAAP net income (6) + +  + +$ + +134,199 + +  + +  + +$ + +224,481 + +  + +  + +$ + +608,236 + +  + +  + +$ + +893,539 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP diluted net income per share + +  + +$ + +0.54 + +  + +  + +$ + +2.40 + +  + +  + +$ + +4.61 + +  + +  + +$ + +9.69 + +  + +Non-GAAP diluted net income per share (6) + +  + +$ + +1.73 + +  + +  + +$ + +2.83 + +  + +  + +$ + +7.76 + +  + +  + +$ + +11.22 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Shares used in computing diluted net income per share + +  + +  + +77,683 + +  + +  + +  + +79,431 + +  + +  + +  + +78,420 + +  + +  + +  + +79,670 + +  + +Notes: + +(1) + +Amortization of intangible assets related to certain acquisitions + +(2) + +During the fourth quarter of 2022, we initiated a restructuring plan to increase efficiencies across the organization and lower the overall cost structure. Restructuring charges recorded to Cost of net revenues relate primarily to severance costs and impairment charges. + +(3) + +Restructuring and other charges recorded to Operating expenses primarily relate to severance costs, lease termination charges and asset impairments. + +(4) + +Acquisition-related costs for professional fees related to our 2020 exocad acquisition + +(5) + +Gain from the SDC arbitration award regarding the value of Align's capital account balance + +(6) + +In Q4'22, we changed our methodology for the computation of the non-GAAP effective tax rate to a long-term projected tax rate and have given effect to the new methodology from January 1, 2022, and recast previously reported quarterly periods in 2022. We did not make any changes to the results reported for 2021 as reflecting the change in methodology for the computation of the non-GAAP effective tax rate was immaterial to our 2021 results. Please see section captioned "Recast of Financial Measures for Prior Periods In 2022 For Tax Rate Change" under "Unaudited GAAP to Non-GAAP Reconciliation" for further information. + +Refer to "About Non-GAAP Financial Measures" section of press release. + +ALIGN TECHNOLOGY, INC. +UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED +RECAST OF FINANCIAL MEASURES FOR PRIOR PERIODS IN 2022 FOR TAX RATE CHANGE +(in thousands, except per share data) + +In Q4'22, we changed our methodology for the computation of the non-GAAP effective tax rate to a long-term projected tax rate as our management believes shifting to a long-term projected tax rate provides better consistency across reporting periods. Our previous methodology for calculating non-GAAP effective tax rate included certain non-recurring and period-specific items that produced, between periods, results management does not believe are reflective of the Company's long-term effective tax rate. We have given effect to the new methodology effective January 1, 2022, and recast the previously reported quarterly periods in 2022 relating to the Non-GAAP provision for income taxes, Non-GAAP effective tax rate, Non-GAAP net income and Non-GAAP diluted net income per share. We used a projected non-GAAP effective tax rate of 20% for 2022, and expect to use the same rate for 2023. The non-GAAP effective tax rate could be subject to change for a variety of reasons, including the evolving global tax environment, significant changes to our geographic earnings mix, or other changes to our strategy or business operations. We will re-evaluate the long-term projected tax rate as appropriate. No changes were made to the results reported for 2021, as reflecting the change in methodology for the computation of the non-GAAP effective tax rate would have been immaterial to our 2021 results. + +For the convenience of the reader, we have presented the relevant sections of the GAAP to non-GAAP reconciliation, for all the quarterly periods in 2022, both before and after the non-GAAP effective tax rate methodology change described above. + +ALIGN TECHNOLOGY, INC. + +UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED + +RECAST OF FINANCIAL MEASURES FOR PRIOR PERIODS IN 2022 FOR TAX RATE CHANGE CONTINUED + +(in thousands, except per share data) + +Table below shows the information before the tax rate change: + +  + +  + +Three +Months +Ended + +  + +Three +Months +Ended + +  + +Six +Months +Ended + +  + +Three +Months +Ended + +  + +Nine +Months +Ended + +  + +Three +Months +Ended + +  + +Year +Ended + +  + +  + +March 31, 2022 + +  + +June 30, 2022 + +  + +September 30, 2022 + +  + +December 31, 2022 + +GAAP provision for income taxes + +  + +$ + +53,188 + +  + +  + +$ + +60,809 + +  + +  + +$ + +113,997 + +  + +  + +$ + +49,941 + +  + +  + +$ + +163,938 + +  + +  + +$ + +73,546 + +  + +  + +$ + +237,484 + +  + +Tax impact on non-GAAP adjustments + +  + +  + +10,788 + +  + +  + +  + +4,317 + +  + +  + +  + +15,105 + +  + +  + +  + +3,300 + +  + +  + +  + +18,405 + +  + +  + +  + +22,531 + +  + +  + +  + +40,936 + +  + +Tax related non-GAAP items + +  + +  + +(10,169 + +) + +  + +  + +(11,065 + +) + +  + +  + +(21,234 + +) + +  + +  + +(682 + +) + +  + +  + +(21,916 + +) + +  + +  + +(18,568 + +) + +  + +  + +(40,484 + +) + +Non-GAAP provision for income taxes + +  + +$ + +53,807 + +  + +  + +$ + +54,061 + +  + +  + +$ + +107,868 + +  + +  + +$ + +52,559 + +  + +  + +$ + +160,427 + +  + +  + +$ + +77,509 + +  + +  + +$ + +237,936 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP effective tax rate + +  + +  + +28.4 + +% + +  + +  + +35.0 + +% + +  + +  + +31.6 + +% + +  + +  + +40.7 + +% + +  + +  + +33.9 + +% + +  + +  + +63.8 + +% + +  + +  + +39.6 + +% + +Non-GAAP effective tax rate + +  + +  + +24.2 + +% + +  + +  + +25.6 + +% + +  + +  + +24.9 + +% + +  + +  + +33.1 + +% + +  + +  + +27.1 + +% + +  + +  + +46.2 + +% + +  + +  + +31.3 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP net income + +  + +$ + +134,298 + +  + +  + +$ + +112,800 + +  + +  + +$ + +247,098 + +  + +  + +$ + +72,700 + +  + +  + +$ + +319,798 + +  + +  + +$ + +41,775 + +  + +  + +$ + +361,573 + +  + +Stock-based compensation + +  + +  + +31,621 + +  + +  + +  + +34,140 + +  + +  + +  + +65,761 + +  + +  + +  + +32,918 + +  + +  + +  + +98,679 + +  + +  + +  + +34,688 + +  + +  + +  + +133,367 + +  + +Amortization of intangibles + +  + +  + +3,397 + +  + +  + +  + +3,265 + +  + +  + +  + +6,662 + +  + +  + +  + +3,469 + +  + +  + +  + +10,131 + +  + +  + +  + +3,420 + +  + +  + +  + +13,551 + +  + +Restructuring and other charges + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +14,319 + +  + +  + +  + +14,319 + +  + +Tax impact on non-GAAP adjustments + +  + +  + +(10,788 + +) + +  + +  + +(4,317 + +) + +  + +  + +(15,105 + +) + +  + +  + +(3,300 + +) + +  + +  + +(18,405 + +) + +  + +  + +(22,531 + +) + +  + +  + +(40,936 + +) + +Tax related non-GAAP items + +  + +  + +10,169 + +  + +  + +  + +11,065 + +  + +  + +  + +21,234 + +  + +  + +  + +682 + +  + +  + +  + +21,916 + +  + +  + +  + +18,568 + +  + +  + +  + +40,484 + +  + +Non-GAAP net income + +  + +$ + +168,697 + +  + +  + +$ + +156,953 + +  + +  + +$ + +325,650 + +  + +  + +$ + +106,469 + +  + +  + +$ + +432,119 + +  + +  + +$ + +90,239 + +  + +  + +$ + +522,358 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP diluted net income per share + +  + +$ + +1.70 + +  + +  + +$ + +1.44 + +  + +  + +$ + +3.13 + +  + +  + +$ + +0.93 + +  + +  + +$ + +4.07 + +  + +  + +$ + +0.54 + +  + +  + +$ + +4.61 + +  + +Non-GAAP diluted net income per share + +  + +$ + +2.13 + +  + +  + +$ + +2.00 + +  + +  + +$ + +4.13 + +  + +  + +$ + +1.36 + +  + +  + +$ + +5.49 + +  + +  + +$ + +1.16 + +  + +  + +$ + +6.66 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Shares used in computing diluted net income per share + +  + +  + +79,193 + +  + +  + +  + +78,545 + +  + +  + +  + +78,840 + +  + +  + +  + +78,237 + +  + +  + +  + +78,652 + +  + +  + +  + +77,683 + +  + +  + +  + +78,420 + +  + +Refer to "About Non-GAAP Financial Measures" section of press release. + +ALIGN TECHNOLOGY, INC. + +UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED + +RECAST OF FINANCIAL MEASURES FOR PRIOR PERIODS IN 2022 FOR TAX RATE CHANGE CONTINUED + +(in thousands, except per share data) + +Table below shows the information after the tax rate change: + +  + +  + +Three +Months +Ended + +  + +Three +Months +Ended + +  + +Six +Months +Ended + +  + +Three +Months +Ended + +  + +Nine +Months +Ended + +  + +Three +Months +Ended + +  + +Year +Ended + +  + +  + +March 31, 2022 + +  + +June 30, 2022 + +  + +September 30, 2022 + +  + +December 31, 2022 + +GAAP provision for income taxes + +  + +$ + +53,188 + +  + +  + +$ + +60,809 + +  + +  + +$ + +113,997 + +  + +  + +$ + +49,941 + +  + +  + +$ + +163,938 + +  + +  + +$ + +73,546 + +  + +  + +  + +237,484 + +  + +Tax impact on non-GAAP adjustments + +  + +  + +(8,687 + +) + +  + +  + +(18,606 + +) + +  + +  + +(27,293 + +) + +  + +  + +(18,136 + +) + +  + +  + +(45,429 + +) + +  + +  + +(39,997 + +) + +  + +  + +(85,426 + +) + +Non-GAAP provision for income taxes + +  + +$ + +44,501 + +  + +  + +$ + +42,203 + +  + +  + +$ + +86,704 + +  + +  + +$ + +31,805 + +  + +  + +$ + +118,509 + +  + +  + +$ + +33,549 + +  + +  + +$ + +152,058 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP effective tax rate + +  + +  + +28.4 + +% + +  + +  + +35.0 + +% + +  + +  + +31.6 + +% + +  + +  + +40.7 + +% + +  + +  + +33.9 + +% + +  + +  + +63.8 + +% + +  + +  + +39.6 + +% + +Non-GAAP effective tax rate + +  + +  + +20.0 + +% + +  + +  + +20.0 + +% + +  + +  + +20.0 + +% + +  + +  + +20.0 + +% + +  + +  + +20.0 + +% + +  + +  + +20.0 + +% + +  + +  + +20.0 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP net income + +  + +$ + +134,298 + +  + +  + +$ + +112,800 + +  + +  + +$ + +247,098 + +  + +  + +$ + +72,700 + +  + +  + +$ + +319,798 + +  + +  + +$ + +41,775 + +  + +  + +$ + +361,573 + +  + +Stock-based compensation + +  + +  + +31,621 + +  + +  + +  + +34,140 + +  + +  + +  + +65,761 + +  + +  + +  + +32,918 + +  + +  + +  + +98,679 + +  + +  + +  + +34,688 + +  + +  + +  + +133,367 + +  + +Amortization of intangibles + +  + +  + +3,397 + +  + +  + +  + +3,265 + +  + +  + +  + +6,662 + +  + +  + +  + +3,469 + +  + +  + +  + +10,131 + +  + +  + +  + +3,420 + +  + +  + +  + +13,551 + +  + +Restructuring and other charges + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +14,319 + +  + +  + +  + +14,319 + +  + +Tax impact on non-GAAP adjustments + +  + +  + +8,687 + +  + +  + +  + +18,606 + +  + +  + +  + +27,293 + +  + +  + +  + +18,136 + +  + +  + +  + +45,429 + +  + +  + +  + +39,997 + +  + +  + +  + +85,426 + +  + +Non-GAAP net income + +  + +$ + +178,003 + +  + +  + +$ + +168,811 + +  + +  + +$ + +346,814 + +  + +  + +$ + +127,223 + +  + +  + +$ + +474,037 + +  + +  + +$ + +134,199 + +  + +  + +$ + +608,236 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP diluted net income per share + +  + +$ + +1.70 + +  + +  + +$ + +1.44 + +  + +  + +$ + +3.13 + +  + +  + +$ + +0.93 + +  + +  + +$ + +4.07 + +  + +  + +$ + +0.54 + +  + +  + +$ + +4.61 + +  + +Non-GAAP diluted net income per share + +  + +$ + +2.25 + +  + +  + +$ + +2.15 + +  + +  + +$ + +4.40 + +  + +  + +$ + +1.63 + +  + +  + +$ + +6.03 + +  + +  + +$ + +1.73 + +  + +  + +$ + +7.76 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Shares used in computing diluted net income per share + +  + +  + +79,193 + +  + +  + +  + +78,545 + +  + +  + +  + +78,840 + +  + +  + +  + +78,237 + +  + +  + +  + +78,652 + +  + +  + +  + +77,683 + +  + +  + +  + +78,420 + +  + +Refer to "About Non-GAAP Financial Measures" section of press release. + +ALIGN TECHNOLOGY, INC. + +Q1 2023 - GAAP TO NON-GAAP RECONCILIATION + +  + +  + +Three Months Ended + +  + +Year Ended + +  + +  + +March 31, 2023 + +  + +December 31, 2023 + +GAAP Operating Margin + +  + +~13.5% + +  + +slightly above 16% + +Stock-based compensation + +  + +~4.0% + +  + +~4.0% + +Amortization of intangibles (1) + +  + +~0.4% + +  + +~0.4% + +Non-GAAP Operating Margin + +  + +~18.0% + +  + +slightly above 20% + +(1) Amortization of intangible assets related to certain acquisitions + +Refer to "About Non-GAAP Financial Measures" section of press release. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005433/en/ \ No newline at end of file diff --git a/news/ALGN/2023.02.01/Marketmind: A quart and two halves.txt b/news/ALGN/2023.02.01/Marketmind: A quart and two halves.txt new file mode 100644 index 0000000000000000000000000000000000000000..5ea19f042b35e480915c81e769d2777ac63a09bd --- /dev/null +++ b/news/ALGN/2023.02.01/Marketmind: A quart and two halves.txt @@ -0,0 +1 @@ +After a heady January brew, investors now see triples all round.Global stock markets put in their best January in four years, with Wall St's tech-heavy Nasdaq clocking its biggest January gains since 2001, but now face three tense days to assess how durable that is.On the radar are three interest rate rises from G4 central banks over the next 26 hours, a mega cap earnings barrage from Apple, Amazon and Alphabet later on Thursday and then the U.S. January jobs report to round out a frenetic week. February kicked off on Wednesday without too much trepidation about how all that will pan out. Asia and European bourses pushed higher despite a mixed bag of economic news, but S&P500 futures did slip into the red ahead of Wall St's open. Softer U.S. Treasury yields were calm and collected, the dollar easier and volatility gauges relatively serene. An expected quarter-point interest rate rise from the U.S. Federal Reserve later on Wednesday would ruffle few feathers as long as the central bank doesn't feel the need to accompany its slowing of the rate hikes with a harsh steer against market pricing for rate cuts later in the year.Half-point rate rises from the European Central Bank and Bank of England are now the best guess, although dire economic readouts from Britain's ailing economy this year may mean the risk to that consensus is that a split BoE council opts for a smaller move. News that euro zone headline inflation fell much faster than forecast last month to 8.5% - its lowest since last May - will also take some pressure off the ECB, even if stickier 'core' inflation means a half-point point move is still the most likely outcome this week.U.S. markets were also enthused by disinflation signals on Tuesday as data showed U.S. labor costs increasing at their slowest pace in a year in the fourth quarter while wage growth slowed.That was a major relief for those worried about the persistent tightness in the U.S. jobs markets - one reason the Fed may continue to sound hawkish later on Wednesday and why Friday's payrolls update is even more important than usual.Before the Fed announcement, ADP releases its January private sector employment readout for last month and markets will also scan the December JOLTS job openings report.In Asia, surveys showed the contraction in China's business activity easing in January as the country opens up again after strict COVID lockdowns. The speed of the pickup disappointed some, however, and may in itself cool fears about the inflationary impact of China's sudden return to business as usual. India's government unveiled one of its biggest jumps in capital spending in the past decade in its annual budget and said the fiscal deficit would fall, as it tries to create jobs while maintaining financial discipline.The news was less good for one of India's richest citizens.Shares in tycoon Gautam Adani's conglomerate plunged again on Wednesday as a rout in his companies deepened to $84 billion in the wake of a U.S. short-seller report, with the billionaire also losing his title as Asia's richest person. While markets await the 'Triple-A' of Big Tech releases on Thursday, Meta is due to report later today and the dour news from elsewhere in the tech sector kept coming.Overnight, Snap said current quarter revenue could decline by as much as 10%, sending its shares down 14% as the company struggles with weak advertising demand.Intel said it had made broad cuts to employee and executive pay, a week after the company issued a lower-than-expected sales forecast driven by a loss of market share to rivals and a PC market downturn. Key developments that may provide direction to U.S. markets later on Wednesday: * U.S. Federal Reserve policy decision, press conference with Fed Chair Jerome Powell* US Jan ISM manufacturing survey, ADP Jan private sector job report, Dec JOLTS job openings report * U.S. corp earnings: Meta Platforms, MetLife, Mckesson, Boston Scientific, Otis Worldwide, Old Dominion, Align Technology, Corteva, Thermo Fisher Scientific, Altria, Humana, Peleton etc (By Mike Dolan, editing by Raissa Kasolowsky mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/ALGN/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt b/news/ALGN/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..7377c9230398c71d431349ca0d9e9cce14486d3a --- /dev/null +++ b/news/ALGN/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta jumps on $40 billion share buyback*Merck slides on disappointing forecast*Align Technology climbs to nine-month high*U.S. weekly jobless claims fall to nine-month low*Indexes: Dow 0.27%, S&P 1.49%, Nasdaq 3.24%Feb 2 (Reuters) - The Nasdaq rose to a near five-month +intraday high as Meta Platforms surged on rigorous cost +controls, while a dovish message from Federal Reserve Chair +Jerome Powell boosted appetite for risky assets.The Facebook parent soared 26.9% to a near +eight-month high after it announced a new $40 billion share +buyback and said it would cut costs in 2023 by $5 billion to +between $89 billion and $95 billion.The S&P 500 Value index housing Meta jumped 2% to +more than a year's high."It certainly seems that markets are up because earnings +for Meta were surprisingly positive," said Sam Stovall, chief +investment strategist at CFRA Research in New York.Seven of the top 11 S&P 500 sectors advanced, with the +communication services sector, which includes Meta, +jumping 6.7% to its highest in five months.Apple Inc, Alphabet Inc and Amazon.com +Inc rose between 3.2% and 6.4% ahead of their quarterly +results after markets close.Wall Street's main indexes got a boost as Powell +acknowledged that inflation was starting to ease. The U.S. +central bank raised rates by 25 basis points on Wednesday.After a bruising 2022, U.S. stocks have made a strong +comeback, with megacap companies gaining on hopes that the Fed +will ease its hawkish monetary policy stance."Investors are finally looking beyond the specter of the +Federal Reserve raising rates. They see there is an eventual end +to the misery of rate hikes and are realizing so many stocks +were oversold in the misery of last year," said Peter Andersen, +founder of Andersen Capital Management.Meanwhile, data showed jobless claims unexpectedly fell last +week to a nine-month low, highlighting the labor market's +resilience, ahead of nonfarm payroll numbers on Friday.At 13:23 ET, the Dow Jones Industrial Average was +down 93.07 points, or 0.27%, at 33,999.89, the S&P 500 +was up 61.41 points, or 1.49%, at 4,180.62, and the Nasdaq +Composite was up 383.38 points, or 3.24%, at 12,199.70.The S&P 500's chart formed a "golden cross" pattern, in +which its 50-day moving average vaulted above the 200-day moving +average, perceived by many as a bullish signal for near-term +momentum.The price-weighted Dow was the only major index in the red +after disappointing earnings by some of its components. +Honeywell International Inc shed 0.5% after posting a +28.6% fall in quarterly profit.Drugmaker Merck & Co slid 4.6% on a +lower-than-expected annual forecast, while Eli Lilly & Co +dropped 5.5% on missing quarterly revenue estimates.Align Technology Inc surged 29.3% to a nine-month +high on its first quarterly results beat in a year.Analysts now see earnings of S&P 500 firms declining 2.4% +for the quarter, according to Refinitiv estimates.Advancing issues outnumbered decliners by a 2.74-to-1 ratio +on the NYSE, and by a 3.15-to-1 ratio on the Nasdaq.The S&P index recorded 33 new 52-week highs and one new low, +while the Nasdaq recorded 135 new highs and nine new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/ALGN/2023.02.03/PUMP | DUMP : Strong results for Align and AMD.txt b/news/ALGN/2023.02.03/PUMP | DUMP : Strong results for Align and AMD.txt new file mode 100644 index 0000000000000000000000000000000000000000..1bec17e5bcc460c5962747fd9ea37fc6de6edb60 --- /dev/null +++ b/news/ALGN/2023.02.03/PUMP | DUMP : Strong results for Align and AMD.txt @@ -0,0 +1,15 @@ + +This week, Zur Rose, Align Technology, ITM Power, Advanced Micro Devices, Adani Enterprises, Software AG, Electronic Arts, ConocoPhillips, and Kesko are featured! + + + + +  + +  +  +  +  +  +  +  diff --git a/news/ALGN/2023.02.06/Align Technology : ANNOUNCES $250 MILLION ACCELERATED STOCK REPURCHASE AGREEMENT - Form 8-...txt b/news/ALGN/2023.02.06/Align Technology : ANNOUNCES $250 MILLION ACCELERATED STOCK REPURCHASE AGREEMENT - Form 8-...txt new file mode 100644 index 0000000000000000000000000000000000000000..262658ec2daa9d7080c03c5897883c6809a48533 --- /dev/null +++ b/news/ALGN/2023.02.06/Align Technology : ANNOUNCES $250 MILLION ACCELERATED STOCK REPURCHASE AGREEMENT - Form 8-...txt @@ -0,0 +1,127 @@ + + + ALIGN TECHNOLOGY ANNOUNCES $250 MILLION ACCELERATED STOCK REPURCHASE AGREEMENT + + + + + + Joe Hogan, president and CEO, and John Morici, CFO and executive vice president, global finance, intend to personally purchase $1.0 million and $0.2 million, respectively, of Align's common stock + + + + + + TEMPE, Ariz., February 6, 2023 -- Align Technology, Inc. ("Align") (Nasdaq: ALGN) a leading global medical device company that designs, manufactures, and sells the Invisalign® system of clear aligners, iTero™ intraoral scanners, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry, today announced that it has entered into a new accelerated stock repurchase agreement ("ASR") with Citibank, N.A. ("Citi"), to repurchase $250 million of Align's common stock under Align's $1.0 billion stock repurchase program announced on May 13, 2021. + + + + + + "We're pleased to announce this latest $250 million ASR, which reflects the strength of our balance sheet and cash flow generation, as well as management's and the Board's continued confidence in our ability to capitalize on the large market opportunities in our target markets and trajectory for growth," said John Morici, Align CFO. "Returning capital to our shareholders through stock repurchase programs while simultaneously investing in our strategic growth drivers, is consistent with our capital allocation strategy and commitment to increasing shareholder value." + + + + + + Our latest stock repurchase program will operate in accordance with guidelines, specified under Rule 10b5-1 of the Securities Exchange Act of 1934. Accordingly, transactions, if any, will be affected in accordance with the terms of the share repurchase program, including specified prices, volumes, and timing conditions. As of December 31, 2022, Align had approximately 77.3 million shares outstanding and $1.0 billion in cash, cash equivalents and short-term and long-term marketable securities. + + + + + + Under the terms of the ASR, Align will receive an initial delivery of approximately 580 thousand shares. The final number of shares to be repurchased will be based on Align's volume-weighted average stock + + + + + + + + + price during the term of the ASR, less an agreed upon discount. The ASR transaction is expected to be completed by approximately April 26, 2023 and will be funded with Align's cash on hand. + + + + + + Pursuant to the accelerated share repurchase agreement, Citi will use commercially reasonable efforts to conduct a portion of its hedging activity by effecting purchases through one or more designated brokers, including CastleOak Securities LP, Drexel Hamilton, LLC, and Siebert Williams Shank & Co., LLC. + + + + + + In addition to the ASR, Align announced that Joe Hogan, president and CEO, and John Morici, CFO and executive vice president, global finance intend to personally purchase $1.0 million and $0.2 million, respectively, of Align's common stock. + + + + + + About Align Technology, Inc. + + + + + + Align Technology designs and manufactures the Invisalign® system, the most advanced clear aligner system in the world, iTero™ intraoral scanners and services, and exocad™ CAD/CAM software. These technology building blocks enable enhanced digital orthodontic and restorative workflows to improve patient outcomes and practice efficiencies for over 239 thousand doctor customers and are key to accessing Align's 500 million consumer market opportunity worldwide. Over the past 25 years, Align has helped doctors treat over 14.5 million patients with the Invisalign system and is driving the evolution in digital dentistry through the Align Digital Platform™, our integrated suite of unique, proprietary technologies and services delivered as a seamless, end-to-end solution for patients and consumers, orthodontists and GP dentists, and lab/partners. Visit www.aligntech.com for more information. + + + + + + For additional information about the Invisalign system or to find an Invisalign trained doctor in your area, please visit www.invisalign.com. For additional information about the iTero digital scanning system, please visit www.itero.com. For additional information about exocad dental CAD/CAM offerings and a list of exocad reseller partners, please visit www.exocad.com. + + + + + + Invisalign, iTero, exocad, Align and Align Digital Platform are trademarks of Align Technology, Inc. + + + + + + Forward-Looking Statements + + + + + + This news release contains forward-looking statements including statements regarding the expected completion date of the ASR transaction, the number of shares of common stock that will be repurchased under the ASR and the new stock repurchase program, Align's expectation that it will finance the ASR transaction and the new stock repurchase program with cash on hand as well as other statements regarding the ASR and the new stock repurchase program, and the anticipated amount and timing of purchases of stock by Align's president and CEO and CFO. Forward-looking statements contained in this news release relating to expectations about future events or results are based upon information available + + + - 2 - + + + + + + to Align as of the date hereof. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. As a result, actual results may differ materially and adversely from those expressed in any forward-looking statement. + + + + + + The foregoing and other risks are detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the Securities and Exchange Commission on February 25, 2022 and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, which was filed with the SEC on November 4, 2022. Align undertakes no obligation to revise or update publicly any forward-looking statements for any reason. + + + - 3 - + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Align Technology Inc. published this content on 06 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 February 2023 11:09:13 UTC. + + diff --git a/news/ALGN/2023.02.06/Align Technology Announces $250 Million Accelerated Stock Repurchase Agreement.txt b/news/ALGN/2023.02.06/Align Technology Announces $250 Million Accelerated Stock Repurchase Agreement.txt new file mode 100644 index 0000000000000000000000000000000000000000..90d957697372553df27e8f5170bf654dfef70ea4 --- /dev/null +++ b/news/ALGN/2023.02.06/Align Technology Announces $250 Million Accelerated Stock Repurchase Agreement.txt @@ -0,0 +1,27 @@ + +Align Technology, Inc. (“Align”) (Nasdaq: ALGN), a leading global medical device company that designs, manufactures, and sells the Invisalign® system of clear aligners, iTero™ intraoral scanners, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry, today announced that it has entered into a new accelerated stock repurchase agreement ("ASR") with Citibank, N.A. (“Citi”), to repurchase $250 million of Align's common stock under Align’s $1.0 billion stock repurchase program announced on May 13, 2021. + +"We're pleased to announce this latest $250 million ASR, which reflects the strength of our balance sheet and cash flow generation, as well as management’s and the Board's continued confidence in our ability to capitalize on the large market opportunities in our target markets and trajectory for growth," said John Morici, Align CFO. "Returning capital to our shareholders through stock repurchase programs while simultaneously investing in our strategic growth drivers, is consistent with our capital allocation strategy and commitment to increasing shareholder value." + +Our latest stock repurchase program will operate in accordance with guidelines, specified under Rule 10b5-1 of the Securities Exchange Act of 1934. Accordingly, transactions, if any, will be affected in accordance with the terms of the share repurchase program, including specified prices, volumes, and timing conditions. As of December 31, 2022, Align had approximately 77.3 million shares outstanding and $1.0 billion in cash, cash equivalents and short-term and long-term marketable securities. + +Under the terms of the ASR, Align will receive an initial delivery of approximately 580 thousand shares. The final number of shares to be repurchased will be based on Align's volume-weighted average stock price during the term of the ASR, less an agreed upon discount. The ASR transaction is expected to be completed by approximately April 26, 2023 and will be funded with Align’s cash on hand. + +Pursuant to the accelerated share repurchase agreement, Citi will use commercially reasonable efforts to conduct a portion of its hedging activity by effecting purchases through one or more designated brokers, including CastleOak Securities LP, Drexel Hamilton, LLC, and Siebert Williams Shank & Co., LLC. + +In addition to the ASR, Align announced that Joe Hogan, president and CEO, and John Morici, CFO and executive vice president, global finance intend to personally purchase $1.0 million and $0.2 million, respectively, of Align’s common stock. + +About Align Technology, Inc. + +Align Technology designs and manufactures the Invisalign® system, the most advanced clear aligner system in the world, iTero™ intraoral scanners and services, and exocad™ CAD/CAM software. These technology building blocks enable enhanced digital orthodontic and restorative workflows to improve patient outcomes and practice efficiencies for over 239 thousand doctor customers and are key to accessing Align’s 500 million consumer market opportunity worldwide. Over the past 25 years, Align has helped doctors treat over 14.5 million patients with the Invisalign system and is driving the evolution in digital dentistry through the Align Digital Platform™, our integrated suite of unique, proprietary technologies and services delivered as a seamless, end-to-end solution for patients and consumers, orthodontists and GP dentists, and lab/partners. Visit www.aligntech.com for more information. + +For additional information about the Invisalign system or to find an Invisalign trained doctor in your area, please visit www.invisalign.com. For additional information about the iTero digital scanning system, please visit www.itero.com. For additional information about exocad dental CAD/CAM offerings and a list of exocad reseller partners, please visit www.exocad.com. + +Invisalign, iTero, exocad, Align and Align Digital Platform are trademarks of Align Technology, Inc. + +Forward-Looking Statements + +This news release contains forward-looking statements including statements regarding the expected completion date of the ASR transaction, the number of shares of common stock that will be repurchased under the ASR and the new stock repurchase program, Align's expectation that it will finance the ASR transaction and the new stock repurchase program with cash on hand as well as other statements regarding the ASR and the new stock repurchase program, and the anticipated amount and timing of purchases of stock by Align's president and CEO and CFO. Forward-looking statements contained in this news release relating to expectations about future events or results are based upon information available to Align as of the date hereof. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. As a result, actual results may differ materially and adversely from those expressed in any forward-looking statement. + +The foregoing and other risks are detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the Securities and Exchange Commission on February 25, 2022 and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, which was filed with the SEC on November 4, 2022. Align undertakes no obligation to revise or update publicly any forward-looking statements for any reason. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230206005196/en/ \ No newline at end of file diff --git a/news/ALGN/2023.02.06/Hedge funds caught in bigger squeeze than 2021 meme stock frenzy - Goldman Sachs note.txt b/news/ALGN/2023.02.06/Hedge funds caught in bigger squeeze than 2021 meme stock frenzy - Goldman Sachs note.txt new file mode 100644 index 0000000000000000000000000000000000000000..8d6417779d16dbb8d7310d1d709dc6af9d81a8f5 --- /dev/null +++ b/news/ALGN/2023.02.06/Hedge funds caught in bigger squeeze than 2021 meme stock frenzy - Goldman Sachs note.txt @@ -0,0 +1 @@ +The latest short squeeze, implying that stock prices rose so much that bearish bets become too expensive to hold, saw hedge funds caught out by a sharp rally in equities on Feb. 2 after the U.S. Federal Reserve slowed the pace of interest rate hikes and markets anticipated that rates would peak soon. According to the Goldman note, seen by Reuters, the speed at which hedge funds exited bearish positions surpassed that seen in January 2021 when retail traders worked in concert to push shortsellers out of stocks such as videogame retailer Gamestop and movie theatre operator AMC Entertainment Holdings.The 2021 buying frenzy started on social media site Reddit, and at-home traders used retail trading platforms such as Robinhood to lift the price of heavily shorted stocks such as Gamestop. This forced many shortsellers out of positions and in some cases, funds restructured and returned money to their investors.Last week's short-squeeze followed a post-Fed rally. The tech-heavy Nasdaq surged 3.25% on Thursday - its biggest one-day jump in over two months - led by over 20% surges in orthodontic company Align Technology and Facebook parent company Meta Platforms.That came just a day before a sharp selloff on Friday when stronger-than-expected U.S. jobs data sparked a selloff in world stocks.World stocks were last down 0.7% with Friday's strong U.S. jobs report renewing concerns that the Fed may have to remain aggressive in its monetary tightening to tame inflation. The largest short positions held by hedge funds were in industrials and information technology companies, the Goldman note said. It added that hedge funds also exited many long positions in Asian developing markets and Chinese equities.Meanwhile, after stuttering recoveries during a volatile two years, AMC and GME are now trading above their price levels of Jan. 15, 2021 just before the meme stock frenzy began.Resurgent risk appetite among some investors has also fuelled rallies in the shares of so-called meme stocks since the start of this year, though many analysts are sceptical the recent moves will last. (Reporting by Nell Mackenzie; editing by Dhara Ranasinghe and Susan Fenton)By Nell Mackenzie \ No newline at end of file diff --git a/news/ALGN/2023.02.08/Align Technology Appoints Karim Boussebaa, EVP and MD of iTero Scanner and Services Bus...txt b/news/ALGN/2023.02.08/Align Technology Appoints Karim Boussebaa, EVP and MD of iTero Scanner and Services Bus...txt new file mode 100644 index 0000000000000000000000000000000000000000..a94a85e45b28def28c4dd346c6f53a19ce7c0ce7 --- /dev/null +++ b/news/ALGN/2023.02.08/Align Technology Appoints Karim Boussebaa, EVP and MD of iTero Scanner and Services Bus...txt @@ -0,0 +1,17 @@ + +Align Technology, Inc. (Nasdaq: ALGN), a leading global medical device company that designs, manufactures, and sells the Invisalign® system of clear aligners, iTero™ intraoral scanners, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry, today announced that after nearly six years with Align, Yuval Shaked, executive vice president and managing director of iTero scanner and services, has decided to leave the company for personal reasons and spend more time with his family. He will remain with Align and continue as a member of Align Technology President and CEO Joe Hogan’s staff supporting strategic initiatives and programs through 2023. Mr. Shaked will transition his role to Karim Boussebaa, who will join Align on February 27 and assume the role of executive vice president and managing director of iTero scanner and services, effective immediately. + +Commenting on Mr. Shaked’s departure announcement, Align Technology President and CEO Joe Hogan said, “Yuval joined Align in 2017 and has successfully scaled the iTero business worldwide to over 2,000 employees, delivering continuous technology and product innovations that have helped us achieve many significant milestones, including a robust scanner portfolio featuring many industry firsts such as the iTero Element 5D with NIRI technology. I want to thank Yuval for his tremendous contributions and leadership of the iTero scanner and services business. Yuval’s decision to leave Align was difficult for him and I know that he did not make it lightly. Yuval will work closely with Karim to ensure a smooth and successful transition for the iTero business and product roadmap, and I am grateful that he will continue with Align and help support Karim through the transition.” + +Karim Boussebaa is an experienced healthcare executive with more than 28 years of industry leadership and a proven track record in innovation and organizational development, and has extensive regulatory experience. Mr. Boussebaa spent nearly 12 years leading various business units and technologies at Philips Healthcare, in the US and the Netherlands. He was most recently senior vice president, business leader, Philips Image Guided Therapy Systems (IGTS), where he was responsible for both cath labs fixed systems and mobile systems, the market leader in interventional cardiovascular with operations in three global sites, spanning 200 global markets with diverse clinical segments (Coronary, Vascular, Electro-physiology, Structural Heart, Neurovascular, Oncology, Surgery). Prior to his 16 years at Philips, Mr. Boussebaa spent nearly 10 years at GE Healthcare in various leadership positions in mammography, X-ray, cardiovascular, and mobile surgery businesses. + +Commenting on Mr. Boussebaa’s new position, Align Technology President and CEO Joe Hogan said, “I am very excited to have Karim join Align. Like Yuval, Karim is an exceptional technology and business leader with a proven track record for focusing on customer needs while inspiring and developing winning teams. He has led and worked with Israel based teams for the past 15 years and I am confident that Karim will further enable the growth and continued success of our scanner and services business globally.” + +About Align Technology, Inc. + +Align Technology designs and manufactures the Invisalign® system, the most advanced clear aligner system in the world, iTero™ intraoral scanners and services, and exocad™ CAD/CAM software. These technology building blocks enable enhanced digital orthodontic and restorative workflows to improve patient outcomes and practice efficiencies for over 239 thousand doctor customers and are key to accessing Align’s 500 million consumer market opportunity worldwide. Over the past 25 years, Align has helped doctors treat over 14.5 million patients with the Invisalign system and is driving the evolution in digital dentistry through the Align Digital Platform™, our integrated suite of unique, proprietary technologies and services delivered as a seamless, end-to-end solution for patients and consumers, orthodontists and GP dentists, and lab/partners. Visit www.aligntech.com for more information. + +For additional information about the Invisalign system or to find an Invisalign doctor in your area, please visit www.invisalign.com. For additional information about the iTero digital scanning system, please visit www.itero.com. For additional information about exocad dental CAD/CAM offerings and a list of exocad reseller partners, please visit www.exocad.com. + +Invisalign, iTero, exocad, Align, Align Digital Platform, iTero Element and iTero-exocad Connector are trademarks of Align Technology, Inc.  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230208005970/en/ \ No newline at end of file diff --git a/news/AMAT/2023.01.23/Analyst recommendations: Applied Materials, Close Brothers, Skyw...txt b/news/AMAT/2023.01.23/Analyst recommendations: Applied Materials, Close Brothers, Skyw...txt new file mode 100644 index 0000000000000000000000000000000000000000..e33e6f3de0c7d84a3768092bb733e0fb1d90a4d2 --- /dev/null +++ b/news/AMAT/2023.01.23/Analyst recommendations: Applied Materials, Close Brothers, Skyw...txt @@ -0,0 +1,14 @@ + +  + +Applied Materials: Barclays downgrades to underweight from equal-weight. PT down 18% to $90. +Associated British Foods: Deutsche Bank upgrades from hold to buy targeting GBp 2180. +Close Brothers: Investec upgrades to hold from sell. PT down 1.9% to 955 pence. +KLA Corp: Barclays downgrades to underweight from equal-weight. PT down 21% to $325. +Pendragon: Jefferies resumes its Buy rating, targeting GBp 25. +PTC: KeyBanc Capital Markets upgrades to overweight from sector weight. PT up 19% to $155. +Skyworks: Barclays upgrades to overweight from equal-weight. PT up 21% to $125. +Vodafone: Jefferies remains "Hold" with a price target reduced from GBp 100 to GBp 85. +Warner Music: Barclays downgrades to equal-weight from overweight. PT down 1.6% to $35. +Western Digital: Exane BNP Paribas upgrades to neutral from underperform. PT up 9.2% to $42. + diff --git a/news/AMAT/2023.01.23/Brace yourself for a flurry of earnings.txt b/news/AMAT/2023.01.23/Brace yourself for a flurry of earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..3dee605962a5fa10502e724db28416649f160073 --- /dev/null +++ b/news/AMAT/2023.01.23/Brace yourself for a flurry of earnings.txt @@ -0,0 +1,38 @@ + +Indeed, this week there will be about 20 earnings releases from very large companies, with a capitalization of more than $100 billion. Among them, Microsoft, Johnson & Johnson or Danaher tomorrow. Tesla, ASML and Abbott on Wednesday, then Visa, LVMH, Mastercard and Intel on Thursday. Before Chevron and American Express on Friday. For the record, U.S. companies in the traditional sectors generally publish before the opening of Wall Street, while technology companies are subscribed to the post-close. In addition to ASML and LVMH, the European agenda this week includes a few other iconic companies, such as Diageo, SAP, Atlas Copco, STMicroelectronics, Sartorius Stedim Biotech and Nokia. + +Why is this important? Because corporate results and forecasts are the reality on the ground for investors who have been juggling conflicting macroeconomic currents for a few weeks. The quality of the figures will affect the morale and perception of investors. When I talk about the reality on the ground, I am talking about the reality of listed companies, which is not entirely representative of the general economic situation. If they face the same backdrop as small businesses, they have many more levers to present their situation in a favorable light. +Last week, financial markets managed to salvage their weekly performance thanks to a rebound on Friday. This did not allow the S&P500 to post a positive weekly balance, as it ended the week -0.66% lower, despite gains of 1.9% on Friday. For the Nasdaq, on the other hand, the 2.86% surge at the close brought the index back into the green for the week, with a small increase of 0.67%. American technology stocks have thus recorded their third week of growth in 2023. +Investors are relying on their favorite triple driver of the moment: a soft economic landing, a recovery in China and the normalization of monetary policy by the Fed. The appetite for risk returns at a pivotal time for the market. Investors didn't pay much attention to the hard-line fringe of the Fed's central bankers last week, who reiterated that there is still a long way to go to overcome inflation. However, they did listen to several other members of the central bank, who were clearly more relaxed and called for a moderation of monetary tightening. Hence the nice acceleration in risk assets to close the week, before entering the hard part of the corporate earnings season starting tomorrow. +The other important element of the week is the Lunar New Year festivities in Asia. Several major stock markets are closed this morning. Shanghai will not open for the week. Trading will not resume until Wednesday in Seoul and Thursday in Hong Kong. Other markets like Singapore and Taiwan are also closed for varying lengths of time. +  +Economic highlights of the day: +Few appointments on the agenda today, apart from the index of leading indicators in the United States, which is not very followed. All the agenda is here.  +The dollar is slightly up to EUR 0.9213 and GBP 0.8106. The ounce of gold fell 0.4% to USD 1918. The North Sea Brent crude rose 1.3% to USD 87.27 per barrel and U.S. light crude WTI 0.9% to USD 81.39. The yield on 10-year US debt bounced back to 3.46%. Bitcoin is trading around its best recent levels, near USD 22,800. +  +In corporate news: +* Salesforce was up nearly 4 percent in pre-market trading after Reuters reports that activist fund Elliott Management has taken a multibillion-dollar stake in the IT group. +* Goldman Sachs asset management arm will significantly reduce its $59 billion in alternative investments that are weighing on the bank's performance, an executive told Reuters. +* Western Digital and Japan's Kioxia Holdings are in advanced discussions for a possible merger that will involve a dual listing, Bloomberg reported Friday. Western Digital shares were up 1.4 percent in premarket trading. +* Apple wants India to account for as much as 25 percent of its production, up from about 5 percent to 7 percent now, India's commerce minister said Monday. +* PayPal Holdings was down 2.1% in premarket trading after the German cartel regulator announced that it was launching proceedings against the group on suspicion of possible antitrust violations. +* Baker Hughes reported a lower-than-expected fourth-quarter profit as the oilfield services company struggled with component shortages, the impact of inflation and disruptions caused by the war in Ukraine. +* Spotify Technology announced plans to cut 6% of its workforce, or about 600 positions. The stock was up 3.5% in pre-market trading. +* Silvergate Capital, a cryptocurrency specialist, assured Friday after-hours that it had limited exposure to Genesis, the latest player in the sector to file for bankruptcy. +* The Abbott Laboratories plant in Michigan, which was at the heart of the 2022 U.S. infant milk shortage due to health problems, is under investigation by the Justice Department, the Wall Street Journal reported Friday. +  +Analyst recommendations: + +Advanced Micro Devices: Barclays upgraded its recommendation to "overweight" from "equal weight" +Applied Materials: Barclays downgrades to underweight from equal-weight. PT down 18% to $90. +Associated British Foods: Deutsche Bank upgrades from hold to buy targeting GBp 2180. +Close Brothers: Investec upgrades to hold from sell. PT down 1.9% to 955 pence. +KLA Corp: Barclays downgrades to underweight from equal-weight. PT down 21% to $325. +Pendragon: Jefferies resumes its Buy rating, targeting GBp 25. +PTC: KeyBanc Capital Markets upgrades to overweight from sector weight. PT up 19% to $155. +Qualcomm: Barclays upgraded its recommendation to "overweight" from "equal weight" +Skyworks: Barclays upgrades to overweight from equal-weight. PT up 21% to $125. +Vodafone: Jefferies remains "Hold" with a price target reduced from GBp 100 to GBp 85. +Warner Music: Barclays downgrades to equal-weight from overweight. PT down 1.6% to $35. +Western Digital: Exane BNP Paribas upgrades to neutral from underperform. PT up 9.2% to $42. + diff --git a/news/AMAT/2023.01.25/ASML CEO expects steady China sales in 2023 despite restrictions.txt b/news/AMAT/2023.01.25/ASML CEO expects steady China sales in 2023 despite restrictions.txt new file mode 100644 index 0000000000000000000000000000000000000000..f035727beeefa4b350f4ce3494fc6c722c3925e7 --- /dev/null +++ b/news/AMAT/2023.01.25/ASML CEO expects steady China sales in 2023 despite restrictions.txt @@ -0,0 +1 @@ +ASML, which dominates the market for machines used in one step of the chipmaking process, was restricted from selling its most advanced EUV machines to Chinese customers in 2019 following U.S. pressure, due to fears they could be used to make chips that have military applications.The company still sends older DUV machines to China, although these are now a focus of the U.S.-Dutch talks. Such sales totalled around 2.16 billion euros ($2.35 billion), or 14% of total revenue, last year, down marginally from 2.17 billion in 2021.In an interview with Reuters following the company's fourth quarter earnings, Wennink said he expected sales to China to be "about the same" this year, adding that orders from Chinese firms make up about 15% of the company's 40 billion euro order backlog.The EUV machines account for 50% of ASML's sales, Wennink said, noting that the company's U.S. peers such as LAM Research and Applied Materials had not had similar restrictions imposed on their own sales to China until Washington announced sweeping new measures in October in a bid to hobble Beijing's chip-making ability.After a meeting with U.S. President Joe Biden last week, Dutch Prime Minister Mark Rutte signalled that while the Netherlands is aligned with the U.S. on security policy, it will not simply adopt the new restrictions. China is the world's biggest consumer of computer chips and Wennink said the first effect of the U.S. rules was to push local chipmakers to invest in capacity, albeit to make slightly less sophisticated chips."They just become very practical," he said, adding that Chinese customers are investing in 20 nanometre chips and larger - those considered cutting edge before the year 2014."This is an area where there is massive shortage." ($1 = 0.9175 euros) (Reporting by Toby Sterling; Editing by Kirsten Donovan)By Toby Sterling \ No newline at end of file diff --git a/news/AMAT/2023.01.26/What is a chip making tool?.txt b/news/AMAT/2023.01.26/What is a chip making tool?.txt new file mode 100644 index 0000000000000000000000000000000000000000..d11510afe85384a008ec9c8f544610b14fd99e11 --- /dev/null +++ b/news/AMAT/2023.01.26/What is a chip making tool?.txt @@ -0,0 +1,42 @@ +WASHINGTON, Jan 26 (Reuters) - Sophisticated and +expensive machinery used to make semiconductors, more +widely-known as "chip-making tools", are in the news again, amid +talks where the United States will urge Japanese and Dutch +officials to crack down on shipments of the prized equipment to +China.Below is more information about these machines.WHAT ARE CHIP-MAKING TOOLS?A single chip factory can contain 1,000 or more tools, each +tuned to a different step in the process. One +critical chipmaking step, called lithography, involves tools +that can be the size of double-decker buses, weighing more than +200 tonnes. They produce beams of focused light that create the +microscopic circuitry on computer chips used in everything from +phones and laptops to cars and AI.The biggest and most sophisticated lithography machines +require three Boeing 747s to carry them in sections and can cost +as much as $160 million.WHICH FIRMS MAKE THEM?While American firms such as Applied Materials, KLA +and LAM Research are dominant players in the +chip manufacturing equipment industry, they face competition +from Japanese rivals like Tokyo Electron. And certain +parts of the process, such as lithography, are dominated by +Dutch firm ASML and Japan's Nikon and Canon +, with no meaningful U.S. competitors.Since 2000, ASML has rapidly taken market share from +Japanese competitors, which now mainly focus on older +technology. ASML controls more than 90% of the lithography +market. No competitor is attempting to build the most +sophisticated EUV system, citing high development costs.Shortages of ASML’s machines are a bottleneck for +chipmakers, which have plans to spend more than $100 billion in +the coming years to build extra fabrication plants to meet +demand.WHY DOES THE U.S. WANT TO LIMIT CHINA'S ACCESS TO THEM?American officials have said they want to limit China's +progress in making advanced semiconductors because such work is +key to China's efforts to modernise its military. They want to +slow China's military progress because they are concerned about +a direct confrontation if China moves to take Taiwan, the +democratic island off its coast that China claims is part of its +territory.WHAT IS THE U.S. DOING TO LIMIT CHINA'S ACCESS?In October, the United States annnounced a sweeping set of +export controls, including measures tightly restricting Chinese +access to U.S. chipmaking technology, in a bid to slow Beijing's +technological and military advances.The raft of measures, if effective, could hobble China's +chip manufacturing industry by forcing American and foreign +companies that use U.S. technology to cut off support for some +of China's leading factories and chip designers.But to be effective, the United States needs the Netherlands +and Japan to jump on board with similar restrictions. +(Reporting by Chris Sanders and Stephen Nellis; Editing by +Sharon Singleton) \ No newline at end of file diff --git a/news/AMAT/2023.01.27/Intel's 'historic collapse' sparks selloff in chip stocks.txt b/news/AMAT/2023.01.27/Intel's 'historic collapse' sparks selloff in chip stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..3349b6c7fc16b04ddb0fb30c974c371794e40d3b --- /dev/null +++ b/news/AMAT/2023.01.27/Intel's 'historic collapse' sparks selloff in chip stocks.txt @@ -0,0 +1 @@ +The company's shares were down 10% in premarket trading after Intel predicted a surprise loss for the period and provided a revenue forecast that was below estimates by $3 billion.Intel supplier KLA Corp fell more than 5% after its own dismal forecast, while Advanced Micro Devices, Nvidia, Applied Materials and Qualcom lost between 0.8% and 3.2%.The projections put Intel on track for some of its worst results on record and underscore the challenges facing Chief Executive Pat Gelsinger due to a post-pandemic slump in PC demand and slowing growth in the data center business. "No words can portray or explain the historic collapse of Intel," said Hans Mosesmann, analyst at Rosenblatt Securities, who was among the 16 analysts who cut their price targets on the stock. Once the dominant player in both PC and data center markets, the company has been steadily losing share to rivals such as AMD, which has used contract chipmakers such as Taiwan-based TSMC to make chips that outpace Intel's technology. Some analysts said that puts Intel at a disadvantage even when the data center market bottoms out, expected in the second half of 2022, as it would have lost even more share by then. "AMD's Genoa and Bergamo chips have a strong price-performance advantage compared to Intel's Sapphire Rapids processors, which should drive further AMD share gains," said Matt Wegner, analyst at YipitData.Intel's results are also expected to sharply reduce the cash flow available to the company at a time when the CEO is trying to revive the business by expanding contract manufacturing and building new factories in the United States and Europe. "It is now clear why Intel needs to cut so much cost as the company's original plans prove to be fantasy," Bernstein analysts said. (Reporting by Aditya Soni, Nivedita Balu and Chavi Mehta in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/AMAT/2023.01.27/Wall St set for subdued open as Intel warning hits chip stocks.txt b/news/AMAT/2023.01.27/Wall St set for subdued open as Intel warning hits chip stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..1e9e2db1776992bae209d6e12d1013f3f5d1ca81 --- /dev/null +++ b/news/AMAT/2023.01.27/Wall St set for subdued open as Intel warning hits chip stocks.txt @@ -0,0 +1 @@ +The Commerce Department's personal consumption expenditures (PCE) index showed a 0.1% rise last month after a similar increase in November. U.S. consumer spending also fell in December, putting the economy on a lower growth path heading into 2023. Traders of futures tied to the Fed's policy rate kept bets that the central bank will raise rates just once more beyond next week's widely expected quarter-point hike before stopping. Markets expect the terminal rate to rise to 4.9% in June, still below many policymakers expectations of beyond 5%."That in-line data is certainly going to be sufficient to justify the Fed slowing down to a 25 basis point rate hike when they make their decision on February 1st," said Art Hogan, chief market strategist at B Riley Wealth."We had expectations for better data and this better news is likely priced in, so then you can shift your focus to things like earnings and while (they are) a mixed bag, we are still getting more good news than bad news." Intel tumbled -9.5% in premarket trading after the company reported its worst revenue slump in at least two decades and warned of additional losses amid weak demand for personal computers.Rival Advanced Micro Devices Inc eased -2.6%, while Nvidia Corp and Applied Materials Inc fell -1.5% and -2.9%, respectively. Second largest U.S. oil producer Chevron Corp, slid -1.4% on quarterly earnings falling shy of analyst estimates undercut by an asset writedowns and a retreat in oil and gas prices.In a bright spot, American Express Co jumped 6.7% on raising its earnings forecast for 2023 above street expectations, while credit card rival Visa Inc added 1.5% on upbeat quarterly results.At 8:49 a.m. ET, Dow e-minis were up 1 points, or 0%, S&P 500 e-minis were down 11.75 points, or 0.29%, and Nasdaq 100 e-minis were down 53.25 points, or 0.44%.Market sentiment during the week was shaped by investors tracking the cautious tone heralded by companies drawing attention to concerns of a tough macro environment. Wall Street is still set to end the week higher aided by renewed appetite for growth stocks earlier in the month. Nearly a quarter of S&P 500 companies have reported earnings so far, of which 69% have beaten analysts' estimates, according to Refinitiv data as of Thursday. (Reporting by Bansari Mayur Kamdar, Johann M Cherian and Shreyashi Sanyal in Bengaluru; Additional reporting by Amruta Khandekar; Editing by Vinay Dwivedi)By Bansari Mayur Kamdar and Johann M Cherian \ No newline at end of file diff --git a/news/AMAT/2023.01.31/U.S., India partnership targets arms and AI to compete with China.txt b/news/AMAT/2023.01.31/U.S., India partnership targets arms and AI to compete with China.txt new file mode 100644 index 0000000000000000000000000000000000000000..b232d59e6fc4af6478b1f95ce1368555ba633894 --- /dev/null +++ b/news/AMAT/2023.01.31/U.S., India partnership targets arms and AI to compete with China.txt @@ -0,0 +1 @@ +Washington wants to deploy more Western mobile phone networks in the subcontinent to counter China's Huawei Technologies, to welcome more Indian computer chip specialists to the United States and to encourage companies from both countries to collaborate on military equipment like artillery systems.The White House faces an uphill battle on each front, including U.S. restrictions on military technology transfer and visas for immigrant workers, along with India's longstanding dependence on Moscow for military hardware.Biden's national security adviser, Jake Sullivan, and his Indian counterpart, Ajit Doval, are meeting with senior officials from both countries at the White House on Tuesday to launch the U.S.-India Initiative on Critical and Emerging Technologies."The larger challenge posed by China - its economic practices, its aggressive military moves, its efforts to dominate the industries of the future and to control the supply chains of the future have had a profound impact on the thinking in Delhi," said Sullivan.New Delhi has frustrated Washington by participating in military exercises with Russia and increasing purchases of the country's crude oil, a key source of funding for Russia's war in Ukraine. But Washington has held its tongue, nudging the country on Russia while condoning India's more hawkish stance on China.On Monday, Sullivan and Doval participated in a Chamber of Commerce event with corporate leaders from Lockheed Martin Corp, Adani Enterprises and Applied Materials Inc.While India is part of the Biden administration's signature Asian engagement project Indo-Pacific Economic Framework (IPEF), it has opted against joining the IPEF trade pillar negotiations.The initiative also includes a joint effort on space and high-performance quantum computing.General Electric Co, meanwhile, is asking the U.S. government for permission to produce jet engines with India that would power aircraft operated and produced by India, according to the White House, which says a review is underway. (Reporting by Trevor Hunnicutt; Editing by Chris Sanders and Josie Kao)By Trevor Hunnicutt \ No newline at end of file diff --git a/news/AMAT/2023.01.31/U.S., India partnership targets arms, AI to compete with China.txt b/news/AMAT/2023.01.31/U.S., India partnership targets arms, AI to compete with China.txt new file mode 100644 index 0000000000000000000000000000000000000000..8dedc03a871c1fe0a9646797c419afed51aeefce --- /dev/null +++ b/news/AMAT/2023.01.31/U.S., India partnership targets arms, AI to compete with China.txt @@ -0,0 +1,48 @@ +WASHINGTON, Jan 31 (Reuters) - The White House is +launching a partnership with India on Tuesday that President Joe +Biden hopes will help the countries compete against China on +military equipment, semiconductors and artificial intelligence.Washington wants to deploy more Western mobile phone +networks in the subcontinent to counter China's Huawei +Technologies, to welcome more Indian computer chip specialists +to the United States and to encourage companies from both +countries to collaborate on military equipment such as artillery +systems.The White House faces an uphill battle on each front, +including U.S. restrictions on military technology transfer and +visas for immigrant workers, along with India's longstanding +dependence on Moscow for military hardware.Biden's national security adviser, Jake Sullivan, and his +Indian counterpart, Ajit Doval, are meeting with senior +officials from both countries at the White House on Tuesday to +launch the U.S.-India Initiative on Critical and Emerging +Technologies."The larger challenge posed by China - its economic +practices, its aggressive military moves, its efforts to +dominate the industries of the future and to control the supply +chains of the future - have had a profound impact on the +thinking in Delhi," Sullivan said.Doval will also meet Secretary of State Anthony Blinken +during his three-day visit to Washington D.C., which ends +Wednesday.New Delhi has frustrated Washington by participating in +military exercises with Russia and increasing purchases of the +country's crude oil, a key source of funding for Russia's war in +Ukraine. But Washington has held its tongue, nudging the country +on Russia while condoning India's more hawkish stance on China.On Monday, Sullivan and Doval participated in a Chamber of +Commerce event with corporate leaders from Lockheed Martin Corp, +Adani Enterprises and Applied Materials Inc.Although India is part of the Biden administration's +signature Asian engagement project, the Indo-Pacific Economic +Framework (IPEF), it has opted against joining the IPEF trade +pillar negotiations.The initiative also includes a joint effort on space and +high-performance quantum computing.General Electric Co, meanwhile, is asking the U.S. +government for permission to produce jet engines with India that +would power aircraft operated and produced by India, according +to the White House, which says a review is underway.New Delhi said that the U.S. government would review General +Electric’s application expeditiously and that the two countries +would focus on joint production of “key items of mutual +interest” in defense.The two countries also established a quantum technology +coordination mechanism and agreed to set up a task force with +India’s Semiconductor Mission, the India Electronics +Semiconductor Association (IESA) and the U.S. Semiconductor +Industry Association (SIA) to promote the development of +semiconductor ecosystems.India’s space program will work with NASA on human space +flight opportunities and other projects, the Indian statement +said. +(Reporting by Trevor Hunnicutt; Additional reporting by Krishn +Kaushik in Delhi; Editing by Chris Sanders, Josie Kao, Himani +Sarkar, Y.P. Rajesh and Gerry Doyle) \ No newline at end of file diff --git a/news/AMAT/2023.02.01/Dutch, Japanese curbs on chip equipment to China may not be tough enough -industry grou...txt b/news/AMAT/2023.02.01/Dutch, Japanese curbs on chip equipment to China may not be tough enough -industry grou...txt new file mode 100644 index 0000000000000000000000000000000000000000..5c219003acbcaba051bdfbc58d953a97e083b765 --- /dev/null +++ b/news/AMAT/2023.02.01/Dutch, Japanese curbs on chip equipment to China may not be tough enough -industry grou...txt @@ -0,0 +1 @@ +    The warning came after news of an agreement by the Netherlands and Japan to curb chipmaking exports to China to align with rules the Biden Administration imposed in October. Details of the deal have not been made public.    SEMI, which represents the semiconductor and electronics manufacturing supply chain, said it had a shared interest in strengthening U.S. national security and welcomed the agreement with Japan and the Netherlands.    However, in a lengthy comment dated Jan. 31 on the October regulations, the group expressed concern that the allies' curbs would not be nearly as restrictive as the U.S. controls.     Even if Japan, the Netherlands and other allies adopt restrictions on specific tools, SEMI said, they will be "largely ineffective" unless international partners agree to broader controls on Chinese fabrication facilities, or fabs, that produce advanced chips. SEMI also said allies need to restrict their engineers and others from supporting China's high-end fabs.If the allies' controls are not as strong, the United States should grant licenses for more equipment to go to Chinese customers that are not tied to the military, SEMI said, after factoring in foreign availability.     The U.S. rules restrict shipments of certain chipmaking tools to China. They also effectively bar China's advanced chipmaking factories from receiving any American technology, and keep Americans from supporting the fabs. The U.S. created the rules in an effort to slow Beijing's technological and military advances. Without the additional restrictions, advanced semiconductor production in China "will still be able to occur with existing equipment, Chinese-made equipment, and the other uncontrolled items with the benefit of know-how and services non-U.S. persons can provide," SEMI wrote.    It noted that U.S. equipment companies' share of the Chinese market has eroded for the past two years, as Chinese companies anticipated the new curbs. The erosion sped up since October, it said, with some firms reportedly experienced a 20% decline in market share in recent months.     "These lost sales are destined for firms from countries that are not bound" by the new rules, SEMI said, adding that unilateral controls will divert billions of dollars in sales that would have gone to U.S. companies to competitors.The U.S. Department of Commerce, which issued the October rules and has been working with allies, had no immediate comment. SEMI has over 2,500 members worldwide, including leading U.S. equipment makers Lam Research and Applied Materials. (Reporting by Karen Freifeld; Editing by Alexandra Alper and Josie Kao)By Karen Freifeld \ No newline at end of file diff --git a/news/AMAT/2023.02.13/A snag in the smooth plan?.txt b/news/AMAT/2023.02.13/A snag in the smooth plan?.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d71f37c0eefd87672e872dda20901cb34430347 --- /dev/null +++ b/news/AMAT/2023.02.13/A snag in the smooth plan?.txt @@ -0,0 +1,53 @@ + +When I talk about a decline, I am talking about a relatively moderate decline: we are still a long way from the sharp drops of the summer of 2022. Investors have been showing some restraint for a few days. Let's take advantage of this to make a quick assessment. On the Western markets, highly leveraged indexes have exploded to the upside - understanding those that overreact to periods of increase - like the gains of more than 12% made since January 1st by the American Nasdaq 100 or the Italian FTSE MIB. The German DAX, the French CAC and the American S&P500 are all up between 6 and 10%. At the back of the pack, but still in the green, are the more defensive indexes such as the Scandinavian OMX Nordic 40 or the Swiss SMI. + + + +Ranking of a few indexes since the beginning of January + +After a strong start to the year, the stock markets stalled last week, having already shown signs of losing steam in early February. Investors no longer seem as convinced that the US central bank will return to a more accommodative policy. in the coming months regarding its rate policy. The Fed wants to slow the economy to make sure that inflation is under control, but some indicators remain consistently strong. The central bank still believes that it is better to have a momentarily slow economy and dissipating inflation than a strong economy with high inflation. Economics is subject to varying interpretations and theories. But we have to go along with it, since it is the prevailing trend. +The return of fears about the Fed's monetary intentions is visible in the bond market. It was a little slow to react, but the yield on the 10-year US government bond has risen to 3.73%. It had fallen to 3.3% less than a month ago, when investors stopped listening to the cautious words of the US central bank to focus on their own scenario. The same can be said for the dollar, which is back on its one-month highs. This tension will probably find an outlet tomorrow with the release of the US inflation figures for January. Economists expect the pace of annual price increases to slow from 6.5% to 6.2%. However, there will be a subtlety to keep in mind. While prices are falling over the course of a year, they should have risen between December and January. There are several reasons for this, including seasonality and some changes in the weights of official components. Psychologically, the figures released tomorrow at 8:30 am are therefore likely to have a greater impact, especially if they help to invalidate the "blue sky" scenario that investors took on at the beginning of the year. Personally, I have no idea what kind of sauce we will be served. But neither do most intelligent people, so there is a real element of uncertainty to this release, perhaps more so than in previous weeks when data was piling up in support of inflationary de-escalation. + +I complete with some important information to start the week: + +The human toll from the earthquake that struck Turkey and Syria a week ago has risen to over 30,000 dead. +In North America, a new object was shot down on the border between the United States and Canada, possibly an observation balloon. Washington said it had strengthened and refined its radar capabilities to explain the increase in interceptions. Taiwan has indicated that it frequently encounters balloons of Chinese origin in its airspace. +In Cyprus, the former head of diplomacy Nikos Christodoulides won the presidential election. +In Germany, Olaf Scholz' party was defeated in a local election in Berlin. +In Ukraine, Russia is tightening its grip on Bakhmut, apparently at the cost of heavy casualties. +Oil is stabilizing after rallying late last week on news of a Russian production cut, which boosted stocks in the sector. +The agenda of corporate results is still very full with some great names this week, including, in chronological order, Coca-Cola, Airbnb, Zoetis, Cisco, Glencore, Kering, Heineken, Nestlé, Airbus, Schneider, Applied Materials, Air Liquide, Pernod Ricard, Hermès or Mercedes. + + +Economic highlights of the day: + + +No major statistics in sight today. All the agenda here. + +The dollar is up to 0.9368 EUR. Gold is trading at 1860 USD per ounce. Oil remains firm, with North Sea Brent crude at USD 86.07 a barrel and US WTI light crude at USD 79.60. The yield on 10-year US debt is back up to 3.73%. Bitcoin has fallen back below 22,000 USD. +  +In corporate news: + +* Boeing - Air India has sealed a landmark order from the U.S. aircraft manufacturer and Airbus for about 500 aircraft worth more than $100 billion at list price. +* Meta, Facebook's parent company, delayed finalizing budgets for several of its teams as it prepares for another round of job cuts. +* Tesla - The U.S. Department of Transportation is expected to pressure Tesla to unlock its network of electric vehicle chargers in the U.S. to take advantage of the subsidies, as part of an effort to equip the country with 500,000 electric vehicle chargers in the coming years. +* PayPal has suspended work on its stablecoin cryptocurrency, which it had hoped to launch in the coming weeks, as regulators step up scrutiny of cryptoassets and a key partner in the project faces an investigation by the New York State Department of Financial Services. +* Ford is expected to announce plans as early as Monday to build a $3.5 billion lithium iron phosphate (LFP) battery plant in Michigan with China's CATL Group. +* Jetblue Airways, Spirit Airlines - The U.S. Department of Justice (DOJ) is likely to file a lawsuit to block the merger between the two airlines, Politico reported Friday, citing five people familiar with the matter.  + + +Analyst recommendations: + +Advance Auto Parts: Roth MKM downgrades to neutral from buy. PT down 7.8% to $140. +Capri Holdings:Cowen cut the recommendation to market perform from outperform. PT down 10% to $55. +Caterpillar: Baird downgrades its recommendation to neutral from outperform. Price target set to $230. +Crest Nicholson: Deutsche Bank cut the recommendation to hold from buy. PT set to 243 pence. +Expedia: Susquehanna Financial raised the target to $116 from $100. Maintains neutral rating. +Masco: Deutsche Bank upped the goal to hold from sell. Price target set to $56. +Persimmon: Deutsche Bank decrease its price target by 15% to 1,267 pence. +Ralph Lauren: BofA Global Research raised the recommendation to buy from neutral. PT set to $145. +Vesuvius: Panmure Gordon & Co Limited initiated coverage with a recommendation of buy. PT increases by 41%, set to 565 pence +XPO: Morgan Stanley moved to equal-weight from overweight. PT upgrades 22% to $43. + + + diff --git a/news/AMAT/2023.02.16/Applied Materials : Fiscal Q1 Earnings Snapshot.txt b/news/AMAT/2023.02.16/Applied Materials : Fiscal Q1 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..78df5189e75a641b26d68691747ef6127e7a3586 --- /dev/null +++ b/news/AMAT/2023.02.16/Applied Materials : Fiscal Q1 Earnings Snapshot.txt @@ -0,0 +1 @@ +SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Applied Materials Inc. (AMAT) on Thursday reported fiscal first-quarter net income of $1.72 billion.The Santa Clara, California-based company said it had net income of $2.02 per share. Earnings, adjusted for one-time gains and costs, were $2.03 per share.The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.93 per share.The maker of chipmaking equipment posted revenue of $6.74 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $6.69 billion.For the current quarter ending in April, Applied Materials expects its per-share earnings to range from $1.66 to $2.02. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.73.The company said it expects revenue in the range of $6 billion to $6.8 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $6.43 billion.Applied Materials shares have risen 18% since the beginning of the year, while the S&P's 500 index has increased 6.5%. In the final minutes of trading on Thursday, shares hit $115.38, a drop of 18% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMAT at https://www.zacks.com/ap/AMATFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/AMAT/2023.02.16/Applied Materials : News Release 211.8 KB.txt b/news/AMAT/2023.02.16/Applied Materials : News Release 211.8 KB.txt new file mode 100644 index 0000000000000000000000000000000000000000..2360bf1404c34d8d29f913f92eb5584ba454f1a7 --- /dev/null +++ b/news/AMAT/2023.02.16/Applied Materials : News Release 211.8 KB.txt @@ -0,0 +1,1119 @@ + + + + Exhibit 99.1 + + + APPLIED MATERIALS ANNOUNCES FIRST QUARTER 2023 RESULTS + + + +Revenue $6.74 billion, up 7 percent year over year + + +GAAP operating margin 29.2 percent and non-GAAP operating margin 29.5 percent, down 2.3 points and 2.2 points year over year, respectively + + +GAAP EPS $2.02 and non-GAAP EPS $2.03, up 1 percent and 7 percent year over year, respectively + + +Generated $2.27 billion in cash from operations + + + + SANTA CLARA, Calif., Feb. 16, 2023 - Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its first quarter ended Jan. 29, 2023. + + + First Quarter Results + + + Applied generated revenue of $6.74 billion. On a GAAP basis, the company achieved gross margin of 46.7 percent, operating income of $1.97 billion or 29.2 percent of net sales, and record earnings per share (EPS) of $2.02. + + + On a non-GAAP adjusted basis, the company reported gross margin of 46.8 percent, operating income of $1.99 billion or 29.5 percent of net sales, and EPS of $2.03. + + + The company generated $2.27 billion in cash from operations and returned $470 million to shareholders including $250 million in share repurchases and $220 million in dividends. + + + "While the economy and semiconductor industry are facing challenges in 2023, Applied Materials delivered strong first quarter results, and we believe Applied is well positioned to outperform our markets this year," said Gary Dickerson, President and CEO. "Our resilience is underpinned by our strong positions with leading customers at key technology inflections, large backlog of differentiated products and growing service business." + + + + + Applied Materials, Inc. + + + Page 2 of 13 + + + Results Summary + + + + + + + + + + Q1 FY2023 + + + + + + + + + Q1 FY2022 + + + + + + + Change + + + + + + + + + (In millions, except per share amounts and percentages) + + + + + + + Net sales + + + + + $ + + + + + 6,739 + + + + + $ + + + + + 6,271 + + + + + 7% + + + + + + + Gross margin + + + + + + + 46.7 % + + + + + + + + + 47.2 % + + + + + + + (0.5) points + + + + + + + Operating margin + + + + + + + 29.2 % + + + + + + + + + 31.5 % + + + + + + + (2.3) points + + + + + + + Net income + + + + + $ + + + + + 1,717 + + + + + $ + + + + + 1,792 + + + + + (4)% + + + + + + + Diluted earnings per share + + + + + $ + + + + + 2.02 + + + + + $ + + + + + 2.00 + + + + + 1% + + + + + + + Non-GAAP Adjusted Results + + + + + + + + + + + + + + + + + + + + + Non-GAAP adjusted gross margin + + + + + + + 46.8 % + + + + + + + + + 47.3 % + + + + + + + (0.5) points + + + + + + + Non-GAAP adjusted operating margin + + + + + + + 29.5 % + + + + + + + + + 31.7 % + + + + + + + (2.2) points + + + + + + + Non-GAAP adjusted net income + + + + + $ + + + + + 1,724 + + + + + $ + + + + + 1,696 + + + + + 2% + + + + + + + Non-GAAP adjusted diluted EPS + + + + + $ + + + + + 2.03 + + + + + $ + + + + + 1.89 + + + + + 7% + + + + + + A reconciliation of the GAAP and non-GAAP adjusted results is provided in the financial tables included in this release. See also "Use of Non-GAAP Adjusted Financial Measures" section. + + + + + + Applied Materials, Inc. + + + Page 3 of 13 + + + Business Outlook + + + In the second quarter of fiscal 2023, Applied expects net sales to be approximately $6.40 billion, plus or minus $400 million, which includes ongoing supply chain challenges and a negative estimated impact of $250 million dollars related to a cybersecurity event recently announced by one of our suppliers. Non-GAAP adjusted diluted EPS is expected to be in the range of $1.66 to $2.02. + + + This outlook for non-GAAP adjusted diluted EPS excludes known charges related to completed acquisitions of $0.01 per share, includes the normalized tax benefit of share-based compensation of $0.01 per share and includes a net income tax benefit related to intra-entity intangible asset transfers of $0.02 per share, but does not reflect any items that are unknown at this time, such as any additional charges related to acquisitions or other non-operational or unusual items, as well as other tax related items, which we are not able to predict without unreasonable efforts due to their inherent uncertainty. + + + First Quarter Reportable Segment Information + + + + + + Semiconductor Systems + + + + + + + + Q1 FY2023 + + + + + Q1 FY2022 + + + + + + + + + + + + + + + + + + + + + + + + + + + + (In millions, except percentages) + + + + + + + Net sales + + + + + $ + + + + + 5,162 + + + + + $ + + + + + 4,567 + + + + + + + Foundry, logic and other + + + + + + + 77 % + + + + + + + + + 60 % + + + + + + + DRAM + + + + + + + 13 % + + + + + + + + + 25 % + + + + + + + Flash memory + + + + + + + 10 % + + + + + + + + + 15 % + + + + + + + Operating income + + + + + $ + + + + + 1,917 + + + + + $ + + + + + 1,771 + + + + + + + Operating margin + + + + + + + 37.1 % + + + + + + + + + 38.8 % + + + + + + + Non-GAAP Adjusted Results + + + + + + + + + + + + + + + + + Non-GAAP adjusted operating income + + + + + $ + + + + + 1,926 + + + + + $ + + + + + 1,778 + + + + + + + Non-GAAP adjusted operating margin + + + + + + + 37.3 % + + + + + + + + + 38.9 % + + + + + + + + + Applied Global Services + + + + + + + + Q1 FY2023 + + + + + + + Q1 FY2022 + + + + + + + + + + + + + + (In millions, except percentages) + + + + + + + Net sales + + + + + $ + + + + + 1,369 + + + + + $ + + + + + 1,320 + + + + + + + Operating income + + + + + $ + + + + + 383 + + + + + $ + + + + + 403 + + + + + + + Operating margin + + + + + + + 28.0 % + + + + + + + 30.5 % + + + + + + + Non-GAAP Adjusted Results + + + + + + + + + + + + + + + Non-GAAP adjusted operating income + + + + + $ + + + + + 383 + + + + + $ + + + + + 403 + + + + + + + Non-GAAP adjusted operating margin + + + + + + + 28.0 % + + + + + + + 30.5 % + + + + + + + + + Display and Adjacent Markets + + + + + + + + Q1 FY2023 + + + + + Q1 FY2022 + + + + + + + + + + + + + + + + + + + + + + + + + + + + (In millions, except percentages) + + + + + + + Net sales + + + + + $ + + + + + 167 + + + + + $ + + + + + 366 + + + + + + + Operating income + + + + + $ + + + + + 8 + + + + + $ + + + + + 76 + + + + + + + Operating margin + + + + + + + 4.8 % + + + + + + + + + 20.8 % + + + + + + + Non-GAAP Adjusted Results + + + + + + + + + + + + + + + + + Non-GAAP adjusted operating income + + + + + $ + + + + + 8 + + + + + $ + + + + + 77 + + + + + + + Non-GAAP adjusted operating margin + + + + + + + 4.8 % + + + + + + + + + 21.0 % + + + + + + + + + Applied Materials, Inc. + + + Page 4 of 13 + + + Use of Non-GAAP Adjusted Financial Measures + + + Applied provides investors with certain non-GAAP adjusted financial measures, which are adjusted for the impact of certain costs, expenses, gains and losses, including certain items related to mergers and acquisitions; restructuring and severance charges and any associated adjustments; impairments of assets; gain or loss on strategic investments; certain income tax items and other discrete adjustments. On a non-GAAP basis, the tax effect related to share-based compensation is recognized ratably over the fiscal year. Reconciliations of these non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are provided in the financial tables included in this release. + + + Management uses these non-GAAP adjusted financial measures to evaluate the company's operating and financial performance and for planning purposes, and as performance measures in its executive compensation program. Applied believes these measures enhance an overall understanding of its performance and investors' ability to review the company's business from the same perspective as the company's management, and facilitate comparisons of this period's results with prior periods on a consistent basis by excluding items that management does not believe are indicative of Applied's ongoing operating performance. There are limitations in using non- GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles, may be different from non-GAAP financial measures used by other companies, and may exclude certain items that may have a material impact upon our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. + + + Webcast Information + + + Applied Materials will discuss these results during an earnings call that begins at 1:30 p.m. Pacific Time today. A live webcast and related slide presentation will be available at www.appliedmaterials.com. A replay will be available on the website beginning at 5:00 p.m. Pacific Time today. + + + + + Applied Materials, Inc. + + + Page 5 of 13 + + + Forward-Looking Statements + + + This press release contains forward-looking statements, including those regarding anticipated growth and trends in our businesses and markets, industry outlooks and demand drivers, technology transitions, our business and financial performance and market share positions, our capital allocation and cash deployment strategies, our investment and growth strategies, our development of new products and technologies, our estimate of the impact on our second quarter of fiscal 2023 of a recent cybersecurity incident at one of our major suppliers, our business outlook for the second quarter of fiscal 2023 and beyond, and other statements that are not historical facts. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those expressed or implied by such statements include, without limitation: the level of demand for our products, our ability to meet customer demand, and our suppliers' ability to meet our demand requirements; our ability to assess and mitigate the impact on our business of the recent cybersecurity incident at one of our major suppliers, and this supplier's ability to recover its manufacturing and operations to meet our requirements; financial, legal and reputational risks, and the risk of loss of intellectual property, resulting from this or other cybersecurity incidents affecting us or our suppliers; global economic, political and industry conditions, including rising inflation and interest rates; the interpretation and implementation of new export regulations and license requirements, and their impact on our ability to export products and provide services to customers and on our results of operations; global trade issues and changes in trade and export license policies; our ability to obtain licenses or authorizations on a timely basis, if at all; transportation interruptions and logistics constraints; the effects of regional or global health epidemics, including the severity and duration of the ongoing COVID-19 pandemic and government imposed lockdowns and other measures taken in response; consumer demand for electronic products; the demand for semiconductors; customers' technology and capacity requirements; the introduction of new and innovative technologies, and the timing of technology transitions; our ability to develop, deliver and support new products and technologies; the concentrated nature of our customer base; acquisitions, investments and divestitures; changes in income tax laws; our ability to expand our current markets, increase market share and develop new markets; market acceptance of existing and newly developed products; our ability to obtain and protect intellectual property rights in key technologies; our ability to achieve the objectives of operational and strategic initiatives, align our resources and cost structure with business conditions, and attract, motivate and retain key employees; the variability of operating expenses and results among products and segments, and our ability to accurately forecast future results, market conditions, customer requirements and business needs; our ability to ensure compliance with applicable law, rules and regulations; and other risks and uncertainties described in our SEC filings, including our recent Forms 10-K and 8-K. All forward- looking statements are based on management's current estimates, projections and assumptions, and we assume no obligation to update them. + + + About Applied Materials + + + Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com. + + + Contact: + + +Ricky Gradwohl(editorial/media) 408.235.4676 + + +Michael Sullivan(financial community) 408.986.7977 + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Applied Materials Inc. published this content on 16 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 21:25:03 UTC. + + diff --git a/news/AMAT/2023.02.16/Applied Materials : Non-GAAP Reconciliation 388.5 KB.txt b/news/AMAT/2023.02.16/Applied Materials : Non-GAAP Reconciliation 388.5 KB.txt new file mode 100644 index 0000000000000000000000000000000000000000..68ce04ac33d0cbe4aa6fa840cf725cc0a6216c81 --- /dev/null +++ b/news/AMAT/2023.02.16/Applied Materials : Non-GAAP Reconciliation 388.5 KB.txt @@ -0,0 +1,1017 @@ + + + + Q1 FY2023 Earnings Call + + + GAAP to non-GAAP Reconciliations + + + February 16, 2023 + + + + + + APPLIED MATERIALS, INC. + + + UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ADJUSTED RESULTS + + + + + + (In millions, except percentages) + + + Non-GAAP Adjusted Gross Profit + + + Reported gross profit - GAAP basis Certain items associated with acquisitions1 Non-GAAP adjusted gross profit Non-GAAP adjusted gross margin + + + + + Three Months Ended + + + + + + January 29, + + + + + + + January 30, + + + + + + + 2023 + + + + + + + 2022 + + + + + + $ 3,145 $ 2,959 + + + +6 $ 3,152 $ 2,965 + 46.8 % 47.3 % + + + + + + + Non-GAAP Adjusted Operating Income + + + + + + Reported operating income - GAAP basis + + + + + $ + + + + + 1,970 + + + + + $ + + + + + 1,976 + + + + + + + Certain items associated with acquisitions1 + + + + + + + 11 + + + + + + + + + 9 + + + + + + + Acquisition integration and deal costs + + + + + + + 6 + + + + + + + + + 4 + + + + + + + Severance and related charges2 + + + + + + + - + + + + + + + + + (4) + + + + + + + Non-GAAP adjusted operating income + + + + + $ + + + + + 1,987 + + + + + $ + + + + + 1,985 + + + + + + + Non-GAAP adjusted operating margin + + + + + + + + + + + + + + + + + + + 29.5 % + + + + + + + + + 31.7 % + + + + + + + Non-GAAP Adjusted Net Income + + + + + + + + + + + + + + + + + Reported net income - GAAP basis + + + + + $ + + + + + 1,717 + + + + + $ + + + + + 1,792 + + + + + + + Certain items associated with acquisitions1 + + + + + + + 11 + + + + + + + + + 9 + + + + + + + Acquisition integration and deal costs + + + + + + + 6 + + + + + + + + + 4 + + + + + + + Severance and related charges2 + + + + + + + - + + + + + + + + + (4) + + + + + + + Realized loss (gain) on strategic investments, net + + + + + + + (4) + + + + + + + + + 2 + + + + + + + Unrealized loss (gain) on strategic investments, net + + + + + + + (4) + + + + + + + + + (5) + + + + + + + Income tax effect of share-based compensation3 + + + + + + + (14) + + + + + + + + + (58) + + + + + + + Income tax effects related to intra-entity intangible asset transfers + + + + + + + 17 + + + + + + + + + 18 + + + + + + + Resolution of prior years' income tax filings and other tax items + + + + + + + (5) + + + + + + + + + (62) + + + + + + + Non-GAAP adjusted net income + + + + + $ + + + + + 1,724 + + + + + $ + + + + + 1,696 + + + + + + + + + + + + + + + + + + + + +These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets. +2 The severance and related charges primarily related to a one-time voluntary retirement program offered to certain eligible employees. 3 GAAP basis tax benefit related to share-based compensation is recognized ratably over the fiscal year on a non-GAAP basis. + + + + + + + + APPLIED MATERIALS, INC. + + + UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ADJUSTED RESULTS + + + + + + (In millions, except per share amounts) + + + Non-GAAP Adjusted Earnings Per Diluted Share + + + Reported earnings per diluted share - GAAP basis Certain items associated with acquisitions Acquisition integration and deal costs Unrealized loss (gain) on strategic investments, net Income tax effect of share-based compensation + + + Income tax effects related to intra-entity intangible asset transfers Resolution of prior years' income tax filings and other tax items Non-GAAP adjusted earnings per diluted share + + + Weighted average number of diluted shares + + + + + Three Months Ended + + + + + + January 29, + + + + + + + January 30, + + + + + + + 2023 + + + + + + + 2022 + + + + + + $ 2.02 $ 2.00 + + + 0.01 0.01 + + + 0.01 - + + + - (0.01) + + + (0.02) (0.06) + + + 0.02 0.02 + + + (0.01) (0.07) + + + $ 2.03 $ 1.89 + + + 849 897 + + + + + + + + APPLIED MATERIALS, INC. + + + UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP + + + ADJUSTED SEGMENT RESULTS + + + + + + (In millions, except percentages) + + + Semiconductor Systems Non-GAAP Adjusted Operating Income + + + Reported operating income - GAAP basis + + + Certain items associated with acquisitions1 + + + Non-GAAP adjusted operating income + + + Non-GAAP adjusted operating margin (% of net sales) + + + (In millions, except percentages) + + + AGS Non-GAAP Adjusted Operating Income + + + Reported operating income - GAAP basis + + + Non-GAAP adjusted operating income + + + Non-GAAP adjusted operating margin (% of net sales) + + + (In millions, except percentages) + + + Display and Adjacent Markets Non-GAAP Adjusted Operating Income + + + Reported operating income - GAAP basis + + + Certain items associated with acquisitions1 + + + Non-GAAP adjusted operating income + + + Non-GAAP adjusted operating margin (% of net sales) + + + + + Three Months Ended + + + + + + January 29, + + + + + + + January 30, + + + + + + + 2023 + + + + + + + 2022 + + + + + + $ 1,917 $ 1,771 + + + +7 $ 1,926 $ 1,778 + 37.3 % 38.9 % + + + + Three Months Ended + + + + + + January 29, + + + + + + + January 30, + + + + + + + 2023 + + + + + + + 2022 + + + + + + $ 383 $ 403 + + + $ 383 $ 403 + + + 28.0 % 30.5 % + + + Three Months Ended + + + + + + January 29, + + + + + + + January 30, + + + + + + + 2023 + + + + + + + 2022 + + + + + + $ 8 $ 76 + + + +1 + + + + $ 8 $ 77 + + + 4.8 % 21.0 % + + + + + + +These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets. + + + + Note: The reconciliation of GAAP and non-GAAP adjusted segment results above does not include certain revenues, costs of products sold and operating expenses that are reported within corporate and other and included in consolidated operating income. + + + + + + + APPLIED MATERIALS, INC. + + + UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP + + + ADJUSTED OPERATING EXPENSES + + + + + + (In millions) + + + Operating expenses (GAAP basis) + + + Certain items associated with acquisitions Acquisition integration and deal costs Severance and related charges + + + Non-GAAP adjusted operating expenses + + + + + Three Months Ended + + + + + + January 29, + + + + + + + January 30, + + + + + + + + + 2023 + + + + + + + + + 2022 + + + + + + + $ + + + + + 1,175 + + + + + $ + + + + + 983 + + + + + + + + + (4) + + + + + + + + + (3) + + + + + + + + + (6) + + + + + + + + + (4) + + + + + + + + + - + + + + + + + + + 4 + + + + + + + $ + + + + + 1,165 + + + + + $ + + + + + 980 + + + + + + + + + + + + + + + + + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Applied Materials Inc. published this content on 16 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 21:25:03 UTC. + + diff --git a/news/AMAT/2023.02.16/Applied Materials : Q1 2023 Earnings Call Published Script 224.5 KB.txt b/news/AMAT/2023.02.16/Applied Materials : Q1 2023 Earnings Call Published Script 224.5 KB.txt new file mode 100644 index 0000000000000000000000000000000000000000..94cc15047f0b5255826c1861c404cbbcb3c96f65 --- /dev/null +++ b/news/AMAT/2023.02.16/Applied Materials : Q1 2023 Earnings Call Published Script 224.5 KB.txt @@ -0,0 +1,311 @@ + + + + Q1 Fiscal 2023 Earnings Call + + + PREPARED REMARKS | FEBRUARY 16, 2023 + + +MICHAEL SULLIVAN | Corporate Vice President, Investor Relations + + + Good afternoon everyone and thank you for joining Applied's first quarter of fiscal 2023 earnings call. Joining me are Gary Dickerson, our President and CEO, and Brice Hill, our Chief Financial Officer. + + + Before we begin, I'd like to remind you that today's call contains forward-looking statements which are subject to risks and uncertainties that could cause our actual results to differ. Information concerning the risks and uncertainties is contained in Applied's most recent Form 10-K filing with the SEC. Today's call also includes non-GAAP financial measures. Reconciliations to GAAP measures are found in today's earnings press release and in our quarterly earnings materials, which are available on the IR page of our website at appliedmaterials.com. + + + Before we begin, I have a calendar announcement. Later this month, Applied Materials is participating in the SPIE Advanced Lithography and Patterning Conference. For those who aren't traveling to San Jose for the conference, we plan to hold a new product launch event on our IR Website on Tuesday, February 28th at 9AM Pacific Time. We hope you'll join us! + + + And with that introduction, I'd like to turn the call over to Gary Dickerson. + + +GARY DICKERSON | President and Chief Executive Officer + + + INTRODUCTION + + + Thank you, Mike. + + + Applied Materials executed well in our first fiscal quarter, delivering results towards the high end of our guidance range. We also grew our backlog for the ninth consecutive quarter. Going forward, we expect backlog to start declining as we move through 2023. Overall, we are making good progress closing our supply-versus-demand gap. However, very recently, one of our major suppliers encountered a disruption that will impact our second quarter shipments. Brice will provide more details about this when he shares our guidance. In my prepared remarks, I will cover three main topics: + + + +Our current outlook for 2023. + + + + +Our longer-term growth thesis for the industry, and how Applied is positioned to grow faster than + + + + our markets overall. + + + +And finally, a brief overview of the investments we are making to productively scale the company and accelerate our customers' roadmaps. + + + + MARKET OUTLOOK + + + Let me begin with our near-term perspective on the market. In this environment of mixed macroeconomic signals, our customers are facing a variety of demand dynamics. Consumer-driven markets, including PCs and smartphones are clearly weaker, while inflection-driven markets remain more resilient-especiallyhigh-performance computing and AI, automotive, industrial automation, and clean + + + + + + PAGE | 1 + + + + + APPLIED MATERIALS EXTERNAL + + + + + + + + Q1 Fiscal 2023 Earnings Call + + + PREPARED REMARKS | FEBRUARY 16, 2023 + + + energy. In terms of wafer fab equipment investments, 2023 will be a down year for memory spending as customers rebalance inventories and defer capacity additions in both NAND and DRAM. We expect DRAM to pick up ahead of NAND, potentially beginning to recover later this calendar year. We now see leading-edgefoundry-logic spending being slightly down year-on-year. While near-term demand headwinds are causing customers to trim capacity additions, they remain firmly committed to strategic investments in advanced nodes to win the battle for next-generation technology leadership. + + + Our view of ICAPS-chips for IoT, Communications, Auto, Power and Sensor applications-is incrementally more positive than it was last quarter, and we now see spending being up year-on-year. Leading ICAPS companies are investing in both technology and capacity to serve growing demand across a wide range of verticals. In addition, there is strong government support around the world to build resilient, regionalized ICAPS supply. + + + Based on what we are seeing in our business and hearing from our customers, we believe Applied Materials is well positioned to outperform the market in 2023. The resilience in our business is driven by several contributing factors: + + + +First, our balanced market exposure which allows us to perform well in a variety of spending mix + + + + environments. + + + +Second, our position with technology leaders who remain focused on investing in their long-term strategies. We have strong positions at all the key technology inflections in advanced foundry-logic, ICAPS, DRAM, and advanced packaging. + + + + +Third, our record backlog, of which a significant percentage is made up of our most differentiated products including metal deposition that is uniquely enabling for critical next-generation wiring resistance improvements. + + + + +And finally, our service business which is on track to grow in 2023, even after the impact of current U.S. export control regulations. More than 60% of our service revenue is generated from subscriptions in the form of long-term agreements. These agreements have an average tenure of 2.6 years and a high renewal rate of more than 90%. + + + + LONG-TERM GROWTH THESIS + + + While we are cognizant of near-term volatility in our markets and ready to respond to both upside or downside, our long-term outlook remains highly positive. Semiconductors are the foundation of the digital economy making them more strategically and economically important than ever before. Around the world, governments are incentivizing the industry to build regional manufacturing capacity and accelerate investments in strategic next-generation technologies. The semiconductor industry remains on track to grow from approximately $600 billion in 2022 to a trillion dollars or more by the end of this decade. + + + Technology complexity of chips is increasing significantly as traditional 2D Moore's Law scaling slows and the industry transitions to a new PPACt playbook to drive improved performance, power, area-cost and time-to-market. In addition, as 2D Moore's Law decelerates, we are seeing average die sizes in advanced foundry-logic grow. This drives the need for additional wafer capacity while also accelerating the transition to chiplets and heterogeneous designs. Beyond advanced packaging, major technology + + + + + + PAGE | 2 + + + + + APPLIED MATERIALS EXTERNAL + + + + + + + + Q1 Fiscal 2023 Earnings Call + + + PREPARED REMARKS | FEBRUARY 16, 2023 + + + inflections in transistor, wiring, and patterning are also enabled by new materials and materials engineering. These inflections increase the size of Applied's available market. + + + As we have been investing in these inflections for multiple years, we are now well positioned to capture a larger share of our available market. We have a deep pipeline of solutions to enable new wiring innovations, Gate-All-Around transistors, backside power delivery, heterogeneous integration and hybrid bonding. Our broad portfolio of products enables us to offer customers traditional unit process equipment all the way to integrated materials solutions-orIMS-that combine multiple process technologies with on-board metrology and advanced data analytics in a single platform. + + + INVESTING IN GROWTH + + + We are very confident about the growth trajectory of the industry and Applied's outperformance within that environment. To support this growth, we are making strategic investments in new manufacturing, logistics and R&D infrastructure. The scale, speed and location of these investments will be dependent on receiving government support, some of which we have already secured. + + + Beyond simply expanding capacity, we see these infrastructure investments as a catalyst to change the way we collaborate with customers, suppliers and research partners. For example, in the coming months, we expect to break ground on our next-generation R&D center in Silicon Valley. We believe this new high-velocity platform will increase innovation and commercialization speed while reducing the overall cost of bringing new manufacturing technologies to market. + + + As the industry and Applied Materials scale, we need to do so productively and efficiently. This is a major strategic theme for us and, across the company, we are focused on driving up productivity and implementing new ways to work that are better and faster. + + + SUMMARY + + + Before I hand the call over to Brice, let me summarize. + + + While the economy and semiconductor industry are facing challenges in 2023, we remain confident that Applied is well positioned to outperform our markets this year. Our resilience is underpinned by our large backlog of differentiated products, growing service business, and strong positions with leading customers at key technology inflections. Our longer-term outlook remains highly positive as secular trends create opportunities for Applied to outgrow the semiconductor and wafer fab equipment markets by enabling the PPACt roadmap with our differentiated portfolio of materials engineering solutions. + + + In line with this view, we are making strategic investments in R&D and infrastructure, while driving improvements in productivity and speed across the organization. + + + Now Brice, it's over to you. + + + + + + PAGE | 3 + + + + + APPLIED MATERIALS EXTERNAL + + + + + + + + Q1 Fiscal 2023 Earnings Call + + + PREPARED REMARKS | FEBRUARY 16, 2023 + + +BRICE HILL | Senior Vice President, Chief Financial Officer + + + Thank you, Gary. + + + I'd like to start by thanking our team and our supply chain partners for helping us deliver strong revenue in a dynamic environment. On today's call, I'll summarize our Q1 results and provide our guidance for Q2. Before going into the near term, I'd like to discuss the broader context for the industry and the company. + + + Over the past few cycles, the semiconductor industry has become significantly larger and more diverse. Applied's revenue and earnings have grown and become more resilient over this period. In Semiconductor Systems, more than half our revenue comes from leadership businesses where our market segment share is near or well above 50%. The growth of our services business has added another dimension of stability. These factors strengthen our confidence in our ability to invest, generate high returns, and return capital to shareholders. Our business model is very efficient and generates attractive returns. In fact, from fiscal 2013 through 2022, we have grown Applied's free cash flow at a compound annual rate of 30% and increased our return on invested capital to over 35%. + + + We have three capital allocation priorities. The first is funding future growth and returns, and the second is maintaining a strong balance sheet so we can fund R&D through market cycles. Accordingly, even though the semiconductor market is weaker this year, we are investing to scale the company to support our customers in what we believe will be a trillion-dollar semiconductor market. We are increasing our manufacturing and logistics capacity, and we are making significant investments in our R&D infrastructure to collaborate more closely and productively with our customers and industry partners to help solve their highest-value problems. + + + Our third capital allocation priority is returning excess cash to shareholders. We have committed to return 80 to 100% of free cash flow, and actual returns for the past 10 years have been 106%. We have repurchased 40% of shares outstanding at the beginning of this period. As the business has become larger and more diverse, we've also increased the dividend. We've increased our quarterly dividend per share at a 14% CAGR over the past 17 years. In fact, operating income from our services business alone more than covers a growing dividend. + + + Finally, I want our investors to know that we are increasingly focused on improving our productivity. We increased our full-time employee base by around 20% last year and have restricted hiring to critical positions and slowed our spending growth. R&D is our largest expense, and we are making portfolio decisions to ensure we generate the highest possible returns from our investments. We also see opportunities to make our manufacturing more predictable and efficient, and have formed new teams to drive our operational goals. + + + Q1 RESULTS + + + Moving now to our Q1 financials, we delivered net sales of nearly $6.74 billion and non-GAAP EPS of $2.03. These results were in the upper end of our guidance range and nearly identical to last quarter's + + + + + + PAGE | 4 + + + + + APPLIED MATERIALS EXTERNAL + + + + + + + + Q1 Fiscal 2023 Earnings Call + + + PREPARED REMARKS | FEBRUARY 16, 2023 + + + record results. Non-GAAP gross margin increased 80 basis points sequentially to 46.8%, primarily driven by improved manufacturing and logistics costs along with pricing adjustments. Non-GAAP opex was nearly $1.17 billion, with about two-thirds of the sequential increase from R&D. + + + Turning to the segments, Semi Systems revenue grew by 13% year-over-year to $5.16 billion. Strength in ICAPS more than offset reductions in memory and advanced foundry-logic. Segment non-GAAP operating margin was 37.3%. + + + AGS revenue grew nearly 4% year-over-year in Q1 to approximately $1.37 billion. AGS absorbed a full quarter of revenue impact from U.S. trade regulations and performed better than the midpoint of our expectations. Segment non-GAAP operating margin was 28%. + + + In Display, revenue declined to $167 million, and segment non-GAAP operating margin was 4.8%. + + + Turning to our cash flows, we generated $2.27 billion in operating cash flow during the quarter, which was 34% of revenue. We returned $470 million to shareholders including $220 million in dividends and $250 million in buybacks. + + + Q2 GUIDANCE + + + Now, I'll share our guidance for Q2. + + + We expect revenue to be nearly $6.4 billion, plus or minus $400 million, or up over 2% year-over-year. We expect non-GAAP EPS of $1.84 plus or minus 18 cents. This guidance includes a negative estimated adjustment of $250 million related to a cybersecurity event that was recently announced by one of our suppliers. Based on our current assessment of the situation, we expect to recover all of this revenue, and the majority of it in Q3. We expect Semi Systems revenue to be about $4.84 billion, which is up over 8% year-over-year. We expect AGS revenue to be about $1.34 billion, which is down around 3% year-over-year including the negative impact of recent U.S. trade regulations. Display revenue should be around $160 million. We expect Applied's non-GAAP gross margin to be approximately 46.5% which is lower quarter-over-quarter primarily driven by lower volumes and higher near-term supply chain logistics costs, and we expect non-GAAP operating expenses to be around $1.16 billion. We are modeling a tax rate of 12.5% and a weighted average share count of 850 million. + + + SUMMARY + + + I'll close my remarks today by saying thank you to our long-term investors for your support. We are investing for the future with confidence. Our products and services are being directed to a semiconductor industry that is growing in size and strategic importance to the global economy. Our business model is highly efficient, with low capital intensity and a high return on invested capital, driven primarily by R&D spending deployed in close collaboration with our customers. Our business has become less volatile and more resilient as semiconductor demand has broadened to more markets. Equipment capital intensity has recovered and our services business has grown larger and more subscription-based. + + + + + + PAGE | 5 + + + + + APPLIED MATERIALS EXTERNAL + + + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Applied Materials Inc. published this content on 16 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 22:45:05 UTC. + + diff --git a/news/AMAT/2023.02.16/Applied Materials : Q1 2023 Earnings Presentation 1.2 MB.txt b/news/AMAT/2023.02.16/Applied Materials : Q1 2023 Earnings Presentation 1.2 MB.txt new file mode 100644 index 0000000000000000000000000000000000000000..0b01d419d4d12f3fc4146d2277eb7730d2044d49 --- /dev/null +++ b/news/AMAT/2023.02.16/Applied Materials : Q1 2023 Earnings Presentation 1.2 MB.txt @@ -0,0 +1,471 @@ + + + + + First Quarter Fiscal 2023 + + + Earnings Presentation + + + February 16, 2023 + + + + + Applied Materials External + + + + + + Forward-Looking Statements + + +This presentation contains forward-looking statements, including those regarding anticipated growth and trends in our businesses and markets, industry outlooks and demand drivers, technology transitions, our business and financial performance and market share positions, our capital allocation and cash deployment strategies, our investment and growth strategies, our development of new products and technologies, our estimate of the impact on our second quarter of fiscal 2023 of a cybersecurity incident recently announced by one of our major suppliers, our business outlook for the second quarter of fiscal 2023 and beyond, and other statements that are not historical facts. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance. + + + Factors that could cause actual results to differ materially from those expressed or implied by such statements include, without limitation: the level of demand for our products, our ability to meet customer demand, and our suppliers' ability to meet our demand requirements; our ability to assess and mitigate the impact on our business of the recent cybersecurity incident at one of our major suppliers, and this supplier's ability to recover its manufacturing and operations to meet our requirements; financial, legal and reputational risks, and the risk of loss of intellectual property, resulting from this or other cybersecurity incidents affecting us or our suppliers; global economic, political and industry conditions, including rising inflation and interest rates; the interpretation and implementation of new export regulations and license requirements, and their impact on our ability to export products and provide services to customers and on our results of operations; global trade issues and changes in trade and export license policies; our ability to obtain licenses or authorizations on a timely basis, if at all; transportation interruptions and logistics constraints; the effects of regional or global health epidemics, including the severity and duration of the ongoing COVID-19 pandemic and government imposed lockdowns and other measures taken in response; consumer demand for electronic products; the demand for semiconductors; customers' technology and capacity requirements; the introduction of new and innovative technologies, and the timing of technology transitions; our ability to develop, deliver and support new products and technologies; the concentrated nature of our customer base; acquisitions, investments and divestitures; changes in income tax laws; our ability to expand our current markets, increase market share and develop new markets; market acceptance of existing and newly developed products; our ability to obtain and protect intellectual property rights in key technologies; our ability to achieve the objectives of operational and strategic initiatives, align our resources and cost structure with business conditions, and attract, motivate and retain key employees; the variability of operating expenses and results among products and segments, and our ability to accurately forecast future results, market conditions, customer requirements and business needs; our ability to ensure compliance with applicable law, rules and regulations; and other risks and uncertainties described in our SEC filings, including our recent Forms 10-K and 8-K. All forward-looking statements are based on management's current estimates, projections and assumptions, and we assume no obligation to update them. + + + 2 | Applied Materials External + + + + + + APPLIED MATERIALS AT-A-GLANCE + + + REPORTING SEGMENTS + + + + + + Semiconductor Systems + + + + + CURRENT FISCAL + + + + + + + + + YEAR ENDS + + + + + + + + + Applied Global Services + + + + + 29 October 2023 + + + + + + + Display and Adjacent Markets + + + + + + + + + + + + + $26.3 billion + + + + + + + $2.9 billion + + + + + + + ~33,000* + + + + + + + + + + + employees + + + + + + + + + TTM R&D + + + + + + + + + TTM REVENUE + + + + + + + + + + + + + INVESTMENTS + + + + + + + in 24* countries + + + + + + + + + + + + + + + + + + + + + + + + + + TTM is trailing twelve months. *As of fiscal year-ended 10/30/2022. + + + 3 | Applied Materials External + + + + + FOUNDED + + + 1967 + + + FIRST PUBLIC OFFERING + + + 1972 + + + ~17,300* + + + active patents + + + + + + + + + + Q1F23 Summary + + + + + + + 2023 Outlook + + + + + + + Longer Term + + + + + + + + + + + + + + + + + + + + + Delivered strong first-quarter results + + + Made progress mitigating supply chain constraints to meet customer demand + + + Generated record revenue in Semi Systems + + + Grew revenue Y/Y in both Semi Systems and AGS + + + + + Expect 2023 WFE down Y/Y: + + + +Leading-edgeF/L  ICAPS* + Memory + + + + Applied is well positioned to outperform: + + + +Large backlog of differentiated products + + +Growing service business + + +Strong positions with leading customers at key technology inflections + + + + + + Semiconductors are the foundation of the digital economy; expect market to grow to $1T by 2030 + + + Semiconductor roadmap inflections are increasingly enabled by Applied Materials technology + + + Applied is investing in manufacturing, logistics and R&D capacity while increasing our focus on productivity + + + + + + Applied is Well Positioned to Outperform our Markets in 2023 + + + * ICAPS = IoT, Communications, Automotive, Power, Sensors; includes 10nm and above nodes + + + 4 | Applied Materials External + + + + + + Investment Thesis + + + Market Outlook = Innovation and Secular Growth + + + Applied = PPACt Enablement Company + + + + + + + + + + + + Growth in + + + + + New and + + + + + + + Unit process + + + + + Co-optimized + + + + + Actionable insight / + + + + + adjacent + + + + + + + subscriptions + + + + + + + leadership and + + + + + and integrated + + + + + time to market + + + + + materials + + + + + + + and services + + + + + + + broadest portfolio + + + + + solutions + + + + + acceleration + + + + + engineering + + + + + + + + + + + + + + + + + + + + + + + + + businesses + + + + + + High ROI Financial Model + Attractive Shareholder Returns + + + 5 | Applied Materials External + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Applied Materials Inc. published this content on 16 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 22:45:05 UTC. + + diff --git a/news/AMAT/2023.02.16/Applied Materials forecast current-quarter revenue above estimates.txt b/news/AMAT/2023.02.16/Applied Materials forecast current-quarter revenue above estimates.txt new file mode 100644 index 0000000000000000000000000000000000000000..7ce9d3d0d3e9421a81d223417d4edd3f4b9c2fc6 --- /dev/null +++ b/news/AMAT/2023.02.16/Applied Materials forecast current-quarter revenue above estimates.txt @@ -0,0 +1,9 @@ +Feb 16 (Reuters) - Chip tools maker Applied Materials +Inc forecast second-quarter revenue above market +estimates on Thursday, as it benefits from higher production of +semiconductors that had been in short supply for the most of +last year.The company forecast revenue of $6.40 billion, plus or minus +$400 million, compared with analysts' average estimate of $6.29 +billion, according to Refinitiv IBES data. +(Reporting by Tiyashi Datta in Bengaluru; Editing by Shinjini +Ganguli) \ No newline at end of file diff --git a/news/AMAT/2023.02.16/Applied Materials positive on Q2 on resilient demand for automotive, AI chips.txt b/news/AMAT/2023.02.16/Applied Materials positive on Q2 on resilient demand for automotive, AI chips.txt new file mode 100644 index 0000000000000000000000000000000000000000..bad24e119e5019eb1088d79b7a87efcd14480abc --- /dev/null +++ b/news/AMAT/2023.02.16/Applied Materials positive on Q2 on resilient demand for automotive, AI chips.txt @@ -0,0 +1,27 @@ +Feb 16 (Reuters) - Applied Materials Inc on +Thursday projected quarterly revenue broadly above estimates as +it fills a backlog of orders and benefits from resilient demand +for its tools used to make chips for the automotive and +artificial intelligence industries.The results from one of the biggest producers of chip-making +equipment are welcome news for an industry that has in recent +months been buffeted by worries over slowing demand.Applied Materials expects second-quarter revenue of $6.40 +billion, plus or minus $400 million. The midpoint of the range +was higher than the $6.29 billion estimated by analysts, +according to Refinitiv.The outlook, which sent Applied Materials' shares 2% higher +in extended trading, was in contrast to weak forecasts from +peers Lam Research Corp and KLA Corp.While consumer-driven markets such as smartphones and +personal computers are weaker, demand from AI, automotive and +industrial automation industries remains resilient, Applied +Materials Chief Executive Gary Dickerson said on a post-earnings +call.The company is also benefiting from easing supply chain +constraints, allowing it to fill an order backlog that had built +up during the pandemic."We think that more than half of that backlog will be +executed this year," said finance chief Brice Hill, adding the +company was still working to meet some orders from last year.Applied Materials said its second-quarter revenue outlook +includes a negative estimated adjustment of $250 million related +to a recent cybersecurity event at one of its suppliers.The company expects to recover all of this revenue, with the +majority of it set to be booked in the third quarter.For the first quarter, Applied Materials reported revenue of +$6.74 billion that was higher than expectations of $6.69 +billion. The company's adjusted profit also beat expectations. +(Reporting by Tiyashi Datta in Bengaluru; Editing by Shinjini +Ganguli) \ No newline at end of file diff --git a/news/AMAT/2023.02.16/Marketmind: Growth trumps rates.txt b/news/AMAT/2023.02.16/Marketmind: Growth trumps rates.txt new file mode 100644 index 0000000000000000000000000000000000000000..de02958574d16e10a4404e6cc56904ab5aede0b3 --- /dev/null +++ b/news/AMAT/2023.02.16/Marketmind: Growth trumps rates.txt @@ -0,0 +1 @@ +If U.S. consumers are the significant engine of global growth, then their roaring start to this year is zapping recession fears and investors appear happy for now that will trump any related rethink on higher borrowing costs.Jumping 3% at almost twice the pace expected, retail sales increased by the most in nearly two years in January as households seemingly shrugged off rising prices and soaring borrowing costs. While there were some questions about seasonal adjustments in the data, economists were impressed that sales growth was pretty broad based and have scrambled to re-crunch first quarter U.S. output forecasts as a result.JPMorgan doubled its first-quarter GDP growth forecast to a 2% annualized rate - only a modest slowdown from the 2.9% rate in the last three months of 2022 - and Goldman Sachs lifted its tracking estimate by 0.6 percentage point to 1.4%. And it's not just consumption. Production at U.S. factories rebounded 1.0% in January too, while surveys showed business conditions in New York state improving sharply in February.There may be a more mixed picture from Thursday's data slate on producer prices, housing starts and weekly jobless claims.But one the most remarkable aspect of this week's economic readouts is that the related hawkishness from the Federal Reserve on inflation and interest rates has not bowled over the stock market - in stark contrast to how equities greeted rising rate projections last year.Can a stronger economy now take higher rates more comfortably? Even though rates futures and Treasury yields ticked back a bit today, pricing now has Fed policy rates moving as high as 5.25% and staying above 5% all year. And while full-year earnings growth estimates for S&P500 companies have sunk to zero, consensus forecasts are now pencilling in a rebound of almost 12% next year. For all the turbulence in borrowing markets, the VIX index of implied volatility remains subdued below long-term averages. U.S. stock futures are flat going into Thursday's open and European and Asia stocks were up smartly. The dollar edged back a bit but remains almost 3% up on the low of early February. That relative serenity comes even with the U.S. debt ceiling row brewing in the background.The Congressional Budget Office on Wednesday said the U.S. Treasury Department will exhaust its ability to pay all its bills sometime between July and September, unless the current $31.4 trillion cap on borrowing is raised or suspended. Uncertainty about the pace of growth and annual tax receipts in April makes it difficult for government officials to predict the exact "X-date", it said.Overseas, the gloom surrounding Britain's economy was not reflected in the record run in its leading blue-chip stock index.The UK's export, banking and commodity-heavy FTSE 100 rose to another record high above 8,000 points, underpinned by corporate earnings from Centrica and Standard Chartered. Shares of Centrica jumped to top the FTSE 100, adding 4.2%, after the British gas owner's annual profit more than tripled and as it announced an extension of its share buyback programme.Standard Chartered also jumped as it raised its performance goals, unveiled a new $1 billion share buyback and produced a 28% rise in annual profit as global interest rates rise. StanChart said almost half its 10% income growth came from interest.For inflation-watchers, the world's biggest food group Nestle said it will push through further price increases this year after more expensive ingredients contributed to lower 2022 profits. "Our gross margin is down about 260 basis points - that is massive," said Chief Executive Mark Schneider.Planemaker Airbus gained 2.9% as the company targeted 2023 jet deliveries in line with its original estimate for last year.And in the tense geopolitics between Washington and Beijing, China's commerce ministry on Thursday said it put Lockheed Martin and Raytheon Technologies onto an "unreliable entities list" over arms sales to Taiwan.Key developments that may provide direction to U.S. markets later on Thursday:* U.S. Jan producer prices, housing starts and permits; weekly jobless claims; Philadelphia Fed's Feb business survey, New York Fed's Feb service sector survey; NY Fed's Q4 2022 Household Debt and Credit Report * U.S. Fed Board Governor Lisa Cook, St. Louis Fed President James Bullard, Cleveland Fed chief Loretta Mester all speak; Bank of Canada governor Tiff Macklem speaks; European Central Bank Vice President Luis de Guindos, ECB chief economist Philip Lane, ECB board member Fabio Panetta, Bundesbank chief Joachim Nagel, Irish central bank chief Gabriel Makhlouf all speak; Bank of England chief economist Huw Pill speaks. * U.S. corp earnings: Applied Materials, DoorDash, Paramount, Hasbro, Consolidated Edison, Digital Realty Trust, Bio Rad Labs, West Pharmaceutical, Constellation Energy, Vulcan Materials, Southern, Entergy, Zebra, Henry Schein, Organon, Epam, Pool etc (By Mike Dolan, editing by Jane Merriman mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/AMAT/2023.02.17/The prices are once again bringing down the mood.txt b/news/AMAT/2023.02.17/The prices are once again bringing down the mood.txt new file mode 100644 index 0000000000000000000000000000000000000000..6df8744ace60a7c518acbde28d843a5f37ad85db --- /dev/null +++ b/news/AMAT/2023.02.17/The prices are once again bringing down the mood.txt @@ -0,0 +1,34 @@ + +The US finally folded. For the past two days, we've felt that US macroeconomic statistics were starting to diverge from investors' favorite story (inflation falling + central bank stops raising rates + economy slowing down but not too much + central bank starts cutting rates again + economy picking up). Yesterday, producer prices accelerated upwards beyond what was feared in January. This is enough to shake the prognosis that inflation will no longer be a problem and that monetary policy will become more flexible. In fact, two U.S. central bankers yesterday raised the possibility of a more aggressive rate hike than expected at the next Fed meeting. 50 basis points. Moreover, two of their counterparts are still to speak today. We'll see if they play hawks too. +Wall Street ended up folding yesterday, after trying in vain to find something positive in the producer price statistics published at 8:30 am. The real stumble took place around 2:00 pm and brought the three main indexes to the lowest of the day. The Nasdaq 100 lost 2% and erased part of its lead for the week. The S&P500 gave up 1.38% and returned to exactly where it closed last Friday. As a result, there is a lot of gossip and chatter about monetary policy, the level of interest rates the Fed will have to raise to ensure that inflation is contained, the damage that this could do to growth, and so on. We haven't gone back three months, but the atmosphere has slowly changed. The market now sees Fed rates capped at 5.2%, whereas a level of 4.9% was almost considered aggressive two weeks ago. The yield on 10-year U.S. debt tightened further to 3.88%, a sign that the bond market is starting to take seriously the beginning of a backlash on macroeconomic statistics. Quite logically, the dollar strengthened against all currencies. The Fed's next rate decision will be on March 22. For now, the market assigns an 82% probability to a 25 basis point rate hike, compared to 18% for a 50 basis point hike, according to the CME FedWatch tool. +Meanwhile, Beijing announces a "decisive victory" against the coronavirus. Not sure if the "zero covid" policy abandoned in the fall has anything to do with it. China has lost another business leader. Bao Fan, a banker renowned for his operations in the technology sector, has disappeared without leaving an address. His firm, China Renaissance, collapsed this morning in Hong Kong, where the stock lost up to half its value. Finally, China, with new injections of liquidity by the central bank, which is seeking to revive the economic momentum damaged by the restrictions put in place until the end of last year. +The calendar of company publications is still relatively full, with American heavyweights such as Walmart, The Home Depot, Coinbase and Baidu. On the other hand, the calendar of major macroeconomic indicators is almost empty. +In Asia Pacific, the week ended lower in Japan (-0.66%), mainland China (-1.1%), Hong Kong (-1%), Seoul (-1%) and Sydney (-0.9%). The collapse of the US indexes has taken its toll. European indexes are also looking bearish. This is the third Friday of the month, synonymous with the clearing session, otherwise known as the three witches' session. It is a day marked by periods of volatility with the expiry of several types of derivatives. +Let's end with a little heads-up: My colleague Romain Fournier, MarketScreener's Chief Editor, will take over this column after being responsible for it for the last 2 weeks. It has been a pleasure for me to write this section for you every day. +Economic highlights of the day: +There will be no major indicator today. Fed central banker Michelle Bowman is scheduled to deliver a public address at 8:45 a.m. All the agenda here. +The dollar rose to 0.9407 EUR and 0.8379 GBP. The ounce of gold is falling in the wake of the dollar's strengthening, to USD 1,824. Oil is also giving up ground, with North Sea Brent crude at USD 82.81 a barrel and US WTI light crude at USD 76.46. The yield on 10-year US debt is stretching to 3.88%. Bitcoin is falling back to USD 23,800. +In corporate news: +* Moderna - The flu vaccine candidate, using messenger RNA technology, generated a strong immune response against A strains of the disease but failed to show it was at least as effective as an existing vaccine against the less common B strains, the U.S. company announced Thursday. Its stock was down 7% in after-hours trading. +* Boeing announced Thursday that it will integrate its Boeing Capital financing division into its commercial aircraft unit to simplify its corporate structure. +* Pfizer and Valneva announced the exclusion of a significant percentage of participants enrolled in the U.S. for a Phase III study of a Lyme disease vaccine candidate due to Good Clinical Practice (GCP) violations at some centers run by a third-party company. +* Applied Materials reported quarterly sales well ahead of expectations, driven by a strong backlog and solid demand for its tools used in automotive and artificial intelligence chip manufacturing. +* Visa announced the resignation of its chief financial officer, Vasant Prabhu, which will be effective at the end of September. +* Doordash announced a $750 million share repurchase program Thursday and anticipates a key earnings metric above expectations after strong fourth-quarter growth. The meal delivery group gained as much as 12% in after-hours trading Thursday. +* Tesla on Friday raised prices in China on some models of its mid-size Model Y SUV, its website shows.  + +Analyst recommendations: + +Applied Materials: Needham & Co increased price target to $135 from $120.  +Cohu: Needham & Co raised the target to $40 from $34. Maintains buy rating. +Crocs: Stifel maintains hold rating. PT up to $133 from $107. +Dunelm Group: Investec moved to buy from hold. PT set to 1,300 pence +Epam Systems: Susquehanna Financial cut the target to $410 from $462. Maintains positive rating. +HubSpot: RBC Capital Markets raised the target to $500 from $380. Maintains outperform rating. +Materion: KeyBanc Capital Markets maintains overweight rating. Price target upgrades to $130 from $92. +Paramount Global: Guggenheim Securities raised the target to $26 from $22. Maintains buy rating. +Reliance Steel & Aluminum: KeyBanc Capital Markets increased price target to $265 from $235. +Roku: BofA Global Research raised the recommendation to buy from underperform. PT up 20% to $85. +Tyler Technologies: JMP Securities cut the target to $415 from $465. Maintains market outperform rating. +Watsco: KeyBanc Capital Markets maintains overweight rating. Price target up to $365 from $335. + diff --git a/news/AMAT/2023.03.01/Applied Materials' Innovative Pattern-Shaping Technology Reduces the Cost, Complexity a...txt b/news/AMAT/2023.03.01/Applied Materials' Innovative Pattern-Shaping Technology Reduces the Cost, Complexity a...txt new file mode 100644 index 0000000000000000000000000000000000000000..bd173e358fcbaf7cd37f2343e660db353b45ca40 --- /dev/null +++ b/news/AMAT/2023.03.01/Applied Materials' Innovative Pattern-Shaping Technology Reduces the Cost, Complexity a...txt @@ -0,0 +1 @@ +SANTA CLARA, Calif., Feb. 28, 2023 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today unveiled a breakthrough in patterning technology that allows chipmakers to create high-performance transistors and interconnect wiring with fewer EUV lithography steps, thereby lowering the cost, complexity and environmental impact of advanced chipmaking.Customers increasingly use EUV double patterning to print chip features smaller than the resolution limits of EUV to optimize chip area and cost. Using EUV double patterning, chipmakers split a high-density pattern in half and produce two masks that adhere to the resolution limits of EUV. Both halves of the pattern are combined on intermediate patterning films and then etched into the wafer. While double patterning is effective at increasing feature density, it adds design and patterning complexity along with process steps that consume time, energy, materials and water – and increase the cost of wafer fabs and wafer production.Introducing the Applied Materials Centura® Sculpta® Patterning SystemTo help chipmakers continue shrinking designs without the added cost, complexity, and energy and materials consumption of EUV double patterning, Applied Materials worked closely with leading customers to develop the Centura Sculpta patterning system. Chipmakers can now print a single EUV pattern and then use the Sculpta system to elongate the shapes in any chosen direction to reduce the space between features and increase pattern density. Because the final pattern is created from a single mask, design cost and complexity are reduced, and the yield risk from double-patterning alignment errors is eliminated.EUV double patterning requires a number of added manufacturing process steps that generally include CVD patterning film deposition, CMP cleaning, photoresist deposition and removal, EUV lithography, eBeam metrology, patterning film etching and wafer cleaning. For each EUV double patterning sequence it replaces, the Sculpta system can provide chipmakers with:“The new Sculpta system is a great example of how advances in materials engineering can complement EUV lithography to help chipmakers optimize chip area and cost while also tackling the growing economic and environmental challenges of advanced chipmaking,” said Dr. Prabu Raja, Senior Vice President and General Manager of the Semiconductor Products Group at Applied Materials. “The Sculpta system’s unique pattern-shaping technology combines Applied’s deep expertise in ribbon-beam and materials removal technologies to create a breakthrough innovation for the patterning engineer’s toolkit.”Customer and Industry Comments“As Moore’s Law drives us to ever-greater compute performance and density, pattern shaping is proving to be an important new technology that can help reduce manufacturing cost and process complexity, and conserve energy and resources,” said Ryan Russell, corporate vice president for logic technology development at Intel Corp. “Having collaborated closely with Applied Materials in the optimization of Sculpta around our process architecture, Intel will be deploying pattern-shaping capabilities to help us deliver reduced design and manufacturing costs, process cycle times and environmental impact.”“Three critical issues must be considered when pushing the limits of patterning: tip-to-tip spacing, pattern bridge defects and line edge roughness,” said Jong-Chul Park, Master of Foundry Etch Technology Team at Samsung Electronics. “As an early development partner on the innovative pattern-shaping technology, I believe Applied's Sculpta system is a fascinating breakthrough that addresses these patterning challenges and reduces manufacturing costs for chipmakers worldwide.”“Applied Materials’ new Sculpta system is a revolution in patterning that brings an entirely new capability to chipmakers,” said Dan Hutcheson, Vice Chair, TechInsights. “As the industry keeps pushing the limits of chip scaling, we need breakthroughs like Applied’s pattern-shaping technology that can improve chip power, performance, area and cost while also reducing design cost, and energy and materials consumption. Sculpta is the most innovative new process step in wafer fabrication since the introduction of CMP.” The Sculpta system is receiving high interest from leading chipmakers and has been selected as a production tool of record for multiple steps in high-volume logic manufacturing.Additional information about Applied’s Sculpta system will be discussed at the company’s “New Ways to Shrink: Advanced Patterning Products Launch​” event being held today.Forward-Looking StatementsThis press release contains forward-looking statements, including those regarding anticipated growth and trends in our businesses and markets, industry outlooks and demand drivers, technology transitions, our market share positions, our development of new products and technologies, our products’ expected cost savings and environmental benefits, and other statements that are not historical facts. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance.Factors that could cause actual results to differ materially from those expressed or implied by such statements include, without limitation: the introduction of new and innovative technologies, and the timing of technology transitions; our ability to develop, deliver and support new products and technologies; market acceptance of existing and newly developed products; our ability to obtain and protect intellectual property rights in key technologies; the level of demand for our products, our ability to meet customer demand, and our suppliers' ability to meet our demand requirements; consumer demand for electronic products; the demand for semiconductors; customers’ technology and capacity requirements; our ability to accurately forecast cost savings and environmental benefits from using our products; and other risks and uncertainties described in our SEC filings, including our recent Forms 10-Q and 8-K. All forward-looking statements are based on management’s current estimates, projections and assumptions, and we assume no obligation to update them.About Applied MaterialsApplied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com.Contact:Ricky Gradwohl (editorial/media) 408.235.4676Michael Sullivan (financial community) 408.986.7977Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/95c841d6-ffc2-4894-b074-42b7dfb66fb2https://www.globenewswire.com/NewsRoom/AttachmentNg/dd3bd942-4a2d-4a2e-8bcb-43f16482f389These photos are also available at Newscom, www.newscom.com, and via AP PhotoExpress.2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/AMD/2023.01.04/AMD Highlights Future of High-Performance and Adaptive Computing During Opening Keynote...txt b/news/AMD/2023.01.04/AMD Highlights Future of High-Performance and Adaptive Computing During Opening Keynote...txt new file mode 100644 index 0000000000000000000000000000000000000000..daaf778a939021342194bb470de879f233c3a771 --- /dev/null +++ b/news/AMD/2023.01.04/AMD Highlights Future of High-Performance and Adaptive Computing During Opening Keynote...txt @@ -0,0 +1 @@ +— AMD CEO and partners including Microsoft, HP, Lenovo, Magic Leap and Intuitive Surgical showcase AMD technologies advancing AI, hybrid work, gaming, healthcare, aerospace and sustainable computing —— Unveils new mobile CPUs and GPUs, including first x86 PC CPU with dedicated AI engine and new 3D stacked desktop processors with leadership gaming performance, and previews leadership AI inference accelerator and data center APU —LAS VEGAS, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Today at CES 2023, AMD (NASDAQ: AMD) Chair and CEO Dr. Lisa Su detailed the significant role high-performance and adaptive computing plays in creating solutions to the world’s most important challenges. During her live keynote, Dr. Su showcased next-generation AMD leadership products redefining what's possible across the broad markets AMD serves today.“It is an honor to kick off CES 2023 and highlight all the ways AMD is pushing the envelope in high-performance and adaptive computing to help solve the world’s most important challenges,” said Dr. Su.  “Together with our partners, we highlighted how AMD technology is advancing what is possible in AI, hybrid work, gaming, healthcare, aerospace and sustainable computing. We also launched multiple new mobile, gaming and AI chips that will make 2023 an exciting year for AMD and the industry.”AMD Product Innovation at CES 2023 Supporting ResourcesAbout AMDFor more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and Twitter pages.Cautionary Statement This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as the features, functionality, performance, availability, timing and expected benefits of AMD products and technology including the AMD Ryzen™ 7040 Series processors, AMD Ryzen™ AI, AMD Ryzen™ 7045 HX Series processors, AMD Ryzen™ 9 7945 HX processor, AMD Radeon™ RX 7000 Series processors, AMD Radeon™ RX 7600M XT processor, Ryzen™ 7 5800X3D processor, AMD Ryzen™ 7 7800X3D processor, AMD Ryzen™ 9 7950X3D processor, AMD Ryzen™ 9 7900X3D Series processor, AMD Alveo™ V70 AI inference accelerator, and AMD Instinct™ MI300 processor; and the timing and number of future customer launches in 2023, the which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this presentation and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation’s dominance of the microprocessor market and its aggressive business practices; global economic uncertainty; cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; loss of a significant customer; impact of the COVID-19 pandemic on AMD’s business, financial condition and results of operations; competitive markets in which AMD’s products are sold; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD's ability to introduce products on a timely basis with expected features and performance levels; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyber-attacks; potential difficulties in upgrading and operating AMD’s new enterprise resource planning system; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products in a timely manner; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD's supply chain; AMD's ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; impact of government actions and regulations such as export administration regulations, tariffs and trade protection measures; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals-related provisions and other laws or regulations; impact of acquisitions, joint ventures and/or investments, including acquisitions of Xilinx and Pensando, on AMD’s business and AMD’s ability to integrate acquired businesses; impact of any impairment of the combined company’s assets on the combined company’s financial position and results of operation; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit facility; AMD's indebtedness; AMD's ability to generate sufficient cash to meet its working capital requirements or generate sufficient revenue and operating cash flow to make all of its planned R&D or strategic investments; political, legal, economic risks and natural disasters; future impairments of goodwill and technology license purchases; AMD’s ability to attract and retain qualified personnel; AMD’s stock price volatility; and worldwide political conditions. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.©2023 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, Ryzen, Radeon, RDNA, V-Cache, Alevo, Instinct, CDNA, Vitis, Versal and combinations thereof are trademarks of Advanced Micro Devices, Inc. Other product names used herein are for identification purposes and may be trademarks of their respective owners.   Contact: Brandi MartinaAMD Communications+1 512-705-1720Brandi.Martina@amd.comSuresh BhaskaranAMD Investor Relations+1 408-749-2845Suresh.Bhaskaran@amd.com 2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/AMD/2023.01.04/AMD Unveils Suite of New Radeon GPUs to Power High-Performance, Power-Efficient Gaming ...txt b/news/AMD/2023.01.04/AMD Unveils Suite of New Radeon GPUs to Power High-Performance, Power-Efficient Gaming ...txt new file mode 100644 index 0000000000000000000000000000000000000000..7d57ce538cb690b4932c15a433b7c1a547e702e5 --- /dev/null +++ b/news/AMD/2023.01.04/AMD Unveils Suite of New Radeon GPUs to Power High-Performance, Power-Efficient Gaming ...txt @@ -0,0 +1 @@ +LAS VEGAS, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Today at CES 2023, AMD (NASDAQ: AMD) announced the AMD Radeon™ RX 7000 Series Graphics for Laptops. Built on the groundbreaking AMD RDNA™ 3 architecture, the new GPUs are designed to deliver exceptional energy efficiency and performance to power 1080p gaming at ultra settings and advanced content creation applications on next-generation premium laptops.The new GPUs expand the recently announced AMD Radeon RX 7000 Series Graphics family. The new AMD Radeon RX 7000M Series Graphics offer outstanding performance-per-watt while delivering state-of-the-art visuals and high-FPS gaming, while the new AMD Radeon RX 7000S Series Graphics maximize the efficiencies of AMD RDNA 3 architecture to deliver outstanding performance at low power levels ideally suited for thin and light laptops.AMD Radeon RX 7000 Series Graphics for Laptops offer up to 32 new unified compute units, 32MB of second-generation AMD Infinity Cache™ technology, 8GB of high-speed GDDR6 memory with up to a 128-bit memory interface, as well as dedicated AI and raytracing hardware. In addition, they support AI-accelerated video encoding and hardware-accelerated AV1 encoding1, AMD FidelityFX™ Super Resolution (FSR) and AMD Radeon Super Resolution (RSR) upscaling technologies, advanced AMD smart technologies, and other features that provide visually stunning, high-refresh rate gaming experiences.“The new products expand our portfolio of RDNA 3 architecture-based GPUs and offer the ideal blend of performance and power efficiency to let gamers enjoy their favorite games when on the go,” said Scott Herkelman, senior vice president and general manager, Graphics Business Unit at AMD. “Modern games with increasingly life-like visuals require new levels of graphics horsepower, and we’re thrilled to offer a new family of GPUs allowing gamers to enjoy the most demanding games as they’re intended to be experienced wherever they are.”AMD Radeon RX 7000 Series Graphics for LaptopsCombining performance, balanced power profiles and pixel-perfect visuals, AMD Radeon RX 7600M XT and Radeon RX 7600M graphics redefine laptop gaming and content creation capabilities, bringing desktop-class experiences to mobile platforms. Enabling high framerates with max settings for the latest laptop displays, AMD Radeon RX 7600M XT graphics offer 26% higher performance on average than the previous generation AMD Radeon GPUs across select titles at 1080p2.AMD Radeon RX 7700S and Radeon RX 7600S graphics redefine gaming performance for thin-and-light laptops, providing serious horsepower for the latest games and content creation projects, while operating at 100W or below. AMD Radeon RX 7700S graphics enable high-framerate gaming and 29% higher performance on average than the previous generation across select 1080p titles3. Key features of the new graphics offerings include:Key specifications for the Radeon RX 7000M Series and Radeon RX 7000S Series Graphics can be found here.AMD Advantage™ Laptops and AMD Smart TechnologiesAMD Advantage-certified laptops are designed to deliver the ultimate platform for gamers and creators, offering state-of-the-art gaming experiences with new levels of performance and responsiveness. They combine AMD Radeon RX 6000M Series, Radeon RX 6000S Series, Radeon RX 7000M Series, or Radeon RX 7000S Series Graphics, AMD Ryzen™ 5000 Series, Ryzen 6000 Series or Ryzen 7000 Series mobile processors, AMD Software: Adrenaline Edition™ applications, and other advanced system design characteristics.AMD Advantage laptops also feature AMD smart technologies that amplify performance, including the new AMD SmartShift RSR technology. Expected to be available in the first half of 2023, AMD SmartShift RSR intelligently distributes rendering, upscaling, and presentation demands between APU and GPU resources to help deliver the best possible performance.Several leading OEMs announced plans to deliver AMD Advantage Edition laptops beginning in the first half of 2023, powered by the new AMD Radeon RX 7000 Series Graphics and AMD Ryzen 7000 Series processors, including new systems by Alienware, ASUS, Emdoor and IP3.Supporting ResourcesAbout AMDFor 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies ― the building blocks for gaming, immersive platforms and the datacenter. Hundreds of millions of consumers, leading Fortune 500 businesses and cutting-edge scientific research facilities around the world rely on AMD technology daily to improve how they live, work and play. AMD employees around the world are focused on building great products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ:AMD) website, blog, Facebook and Twitter pages. CAUTIONARY STATEMENTThis press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as the features, functionality, performance, availability, timing and expected benefits of AMD products including the AMD Radeon™ RX 7000M Series Graphics, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation’s dominance of the microprocessor market and its aggressive business practices; global economic uncertainty; cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; loss of a significant customer; impact of the COVID-19 pandemic on AMD’s business, financial condition and results of operations; competitive markets in which AMD’s products are sold; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD's ability to introduce products on a timely basis with expected features and performance levels; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyber-attacks; potential difficulties in upgrading and operating AMD’s new enterprise resource planning system; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products in a timely manner; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD's supply chain; AMD's ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; impact of government actions and regulations such as export administration regulations, tariffs and trade protection measures; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals-related provisions and other laws or regulations; impact of acquisitions, joint ventures and/or investments, including acquisitions of Xilinx and Pensando, on AMD’s business and AMD’s ability to integrate acquired businesses; impact of any impairment of the combined company’s assets on the combined company’s financial position and results of operation; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit facility; AMD's indebtedness; AMD's ability to generate sufficient cash to meet its working capital requirements or generate sufficient revenue and operating cash flow to make all of its planned R&D or strategic investments; political, legal, economic risks and natural disasters; future impairments of goodwill and technology license purchases; AMD’s ability to attract and retain qualified personnel; AMD’s stock price volatility; and worldwide political conditions. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.Contact:George Millington AMD Communications(408) 547-7481 George.Millington@amd.comSuresh BhaskaranAMD Investor Relations(408) 749-2845 suresh.bhaskaran@amd.com1 GD-176 – Video codec acceleration (including at least the HEVC (H.265), H.264, VP9, and AV1 codecs) is subject to and not operable without inclusion/installation of compatible media players. 2 RM-102 – Testing done by AMD performance labs, December 14, 2022, on a Reference System equipped with an AMD Ryzen 5 5600X and AMD Radeon RX 7600M XT 16GB DDR4-3600MHz, Video Driver 22.40 RCP 6, Win 11 versus a Reference System equipped with an AMD Ryzen 5 5600X and AMD Radeon RX 6600M 16GB DDR4-3600MHz, Video Driver 22.40 RCP 6, Win 11. Tested at 1080p on the following games and settings: Control @ DX12 High, Cyberpunk 2077 @ DX12 Ultra, Horizon Zero Dawn @ DX12 Ultimate Quality, Resident Evil Village @ DX12 Max, The Witcher 3 @ DX11 Ultra, Sniper Elite 5 @ DX12 Ultra, The Witcher 3 @ DX11 Ultra, Tiny Tina's Wonderlands @ DX12 Badass. System manufacturers may vary configurations, yielding different results. Performance may vary. 3 RM-106 – Testing done by AMD performance labs, December 14, 2022, on a Reference System equipped with an AMD Ryzen 5 5600X and AMD Radeon RX 7700S, 16GB DDR4-3600MHz, Video Driver 22.40 RCP 6, Win 11 versus a Reference System equipped with an AMD Ryzen 5 5600X and AMD Radeon RX 6700S, 16GB DDR4-3600MHz, Video Driver 526.86, Win 11.Tested at 1080p on the following games and settings: Assassin's Creed Valhalla @ DX12 Ultra High, Borderlands 3 @ DX12 Badass, Cyberpunk 2077 @ DX12 Ultra, Death Stranding @ DX12 Very High, The Division 2 @ DX12 Ultra, Far Cry 6 @ DX12 Ultra, Shadow of the Tomb Raider @ DX12 Highest, Tiny Tina's Wonderlands @ DX12 Badass. System manufacturers may vary configurations, yielding different results. Performance may vary.4 As of December 14, 2022©2023 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, AMD Advantage, Adrenalin Edition, FidelityFX, Radeon, RDNA, Ryzen, Smart Access Memory, and combinations thereof are trademarks of Advanced Micro Devices, Inc. DisplayPort and the DisplayPort logo are trademarks owned by the Video Electronics Standards Association (VESA®) in the United States and other countries. Other product names used herein are for identification purposes and may be trademarks of their respective owners.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4fecbc86-a724-4c55-8833-39f5cd9550cc2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/AMD/2023.01.04/Asian stocks in 2022 suffer biggest foreign outflows since 2008 global crisis.txt b/news/AMD/2023.01.04/Asian stocks in 2022 suffer biggest foreign outflows since 2008 global crisis.txt new file mode 100644 index 0000000000000000000000000000000000000000..303b5d51c112f04ea8e907cff9d66d009770a759 --- /dev/null +++ b/news/AMD/2023.01.04/Asian stocks in 2022 suffer biggest foreign outflows since 2008 global crisis.txt @@ -0,0 +1 @@ +Data from stock exchanges in Taiwan, India, the Philippines, Vietnam, Thailand, Indonesia and South Korea showed foreigners sold equities worth $57 billion last year, the biggest outflow since 2008.Graphic: Monthly foreign investment flows Asian equities - https://fingfx.thomsonreuters.com/gfx/mkt/znvnbbrxkvl/Monthly%20foreign%20investment%20flows%20Asian%20equities.jpgAfter four straight 75-basis point hikes earlier in 2022, the U.S. Federal Reserve raised its overnight borrowing rate by another 50 basis points in December.Due to the hikes, the yield on safer 10-year U.S. Treasuries climbed about 230 basis points to 3.83% last year, which hit the foreign demand for riskier regional equities.Taiwanese equities faced outflows worth $41.6 billion last year, leading the regional sales, while India and South Korea witnessed an outgo of $15.4 billion and $9.6 billion, respectively. Graphic: Yearly foreign investment flows: Asian equities - https://fingfx.thomsonreuters.com/gfx/mkt/xmvjkkmnzpr/Yearly%20foreign%20investment%20flows-%20Asian%20equities.jpgHit by falling foreign demand and a worsening economic outlook, the MSCI's Asia Pacific index plunged 19.4% last year - the biggest fall since dropping 43.3% in 2008.Some analysts expect more outflows, at least in the first half of the year, as U.S. interest rates are expected to rise further this year. "The first half of the new trading year could continue to bring a cautious tone in the region, as market participants brace for further economic impact from tighter global central banks' policies, along with risks of China's reopening triggering cross-border virus spreads," said Yeap Jun Rong, a market strategist at IG.In December, emerging Asian equities, excluding Japan and China, witnessed net sales worth $3 billion, with Taiwanese, Indonesian and South Korean equities facing outflow of $2.55 billion, $1.34 billion and $1.31 billion, respectively.On the flip side, India, Vietnam and Thailand received net inflows of $1.36 billion, $559 million and $372 million, respectively, in December. (Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Simon Cameron-Moore)By Gaurav Dogra \ No newline at end of file diff --git a/news/AMD/2023.01.11/AMD appoints Marvell Tech exec as CFO.txt b/news/AMD/2023.01.11/AMD appoints Marvell Tech exec as CFO.txt new file mode 100644 index 0000000000000000000000000000000000000000..2aa77daac0270acb94795c13bc6d38e4cd5fe02e --- /dev/null +++ b/news/AMD/2023.01.11/AMD appoints Marvell Tech exec as CFO.txt @@ -0,0 +1,6 @@ +Jan 11 (Reuters) - U.S. chip design firm Advanced Micro +Devices Inc on Wednesday appointed Jean Hu as its chief +financial officer, replacing Devinder Kumar.Hu, a Marvell Technology Inc executive, will be +join AMD on Jan. 23. +(Reporting by Aishwarya Nair in Bengaluru; Editing by Maju +Samuel) \ No newline at end of file diff --git a/news/AMD/2023.01.11/AMD names Jean Hu as new finance chief.txt b/news/AMD/2023.01.11/AMD names Jean Hu as new finance chief.txt new file mode 100644 index 0000000000000000000000000000000000000000..019c321b27ce11748ba37ea5ceeef69c9783ab4f --- /dev/null +++ b/news/AMD/2023.01.11/AMD names Jean Hu as new finance chief.txt @@ -0,0 +1,13 @@ +Jan 11 (Reuters) - U.S. chip design firm Advanced Micro +Devices Inc on Wednesday appointed Marvell Technology +Inc executive Jean Hu as its chief financial officer, +effective Jan. 23.Hu will succeed Devinder Kumar, who will be retiring +from the company two years after taking up the role.Kumar will remain at AMD through April to ensure a +smooth transition, the company said.Hu, who has been Marvell's CFO for more than six years, +also held senior roles in semiconductor companies Qlogic and +Conexan.AMD, which makes CPUs and graphics processors for PCs +and data centers, said in November that it expected some +strength in its data center business and promised to be careful +with spending. +(Reporting by Aishwarya Nair in Bengaluru; Editing by Maju +Samuel) \ No newline at end of file diff --git a/news/AMD/2023.01.11/Global PC market seen to recover late 2023 - reports.txt b/news/AMD/2023.01.11/Global PC market seen to recover late 2023 - reports.txt new file mode 100644 index 0000000000000000000000000000000000000000..7b4e9118dd8ed69c425a8a6702978b99d1b91197 --- /dev/null +++ b/news/AMD/2023.01.11/Global PC market seen to recover late 2023 - reports.txt @@ -0,0 +1 @@ +Inflation-hit and recession-wary customers have so far been delaying system upgrades, but these will be pushed into the latter part of the year and trigger PC market growth, the research firms said."The commercial segment has several drivers towards growth, including the approaching end of support for Windows 10 and a building refresh cycle," IDC analysts said.The recovery will be bolstered by an education demand bump in major markets as devices deployed during the pandemic peak reach the end of their life cycle, according to Canalys analyst Ishan Dutt."We expect delayed purchases to begin boosting the market in late 2023, with momentum picking up in 2024."The chip industry, too, is expected to rebound around the end of the first half of this year after a downturn, which was driven by a crash in electronics demand last year as red-hot inflation pushed consumers to be careful with spending.PC shipments fell 16.5% to 292.3 million units in 2022, IDC said. Fourth-quarter shipments declined 28.1%.PC maker HP Inc saw its shipments decline about 25% last year, followed by Lenovo Group Ltd and Dell Technologies Inc, according to IDC. Apple Inc was the only major PC maker that saw its shipments grow in 2022, IDC said.Shares of Dell and HP fell 27% and 29%, respectively, last year, while Lenovo dropped about 28%. Shares of PC chipmakers Intel Corp fell 48% and Advanced Micro Devices Inc declined 55.5% during the period. (Reporting by Chavi Mehta in Bengaluru; Editing by Shilpi Majumdar) \ No newline at end of file diff --git a/news/AMD/2023.01.12/MarketScreener's World Press Review: January 12.txt b/news/AMD/2023.01.12/MarketScreener's World Press Review: January 12.txt new file mode 100644 index 0000000000000000000000000000000000000000..01eb2105cb77e176b7b47a5d9f4d9dce3bf27f69 --- /dev/null +++ b/news/AMD/2023.01.12/MarketScreener's World Press Review: January 12.txt @@ -0,0 +1,12 @@ + +Savills, Tesco, Marks and Spencer, Asos, Cellnex, Bertelsmann, Barnes & Noble, Disney, BlackRock, Marvell Technology, Advanced Micro Devices, Alcoa Corp, Ford, LG Energy Solution, SK Innovation, Amazon, Lenovo, Dell, Apple and Maruti Suzuki feature in this press review! + + + + +  + +  +  +  +  diff --git a/news/AMD/2023.01.16/AMD Promotes Forrest Norrod to Executive Vice President of Data Center Solutions Busine...txt b/news/AMD/2023.01.16/AMD Promotes Forrest Norrod to Executive Vice President of Data Center Solutions Busine...txt new file mode 100644 index 0000000000000000000000000000000000000000..4ae4d4ab4f0fa3e02b91273c63c1fa7a28ad1496 --- /dev/null +++ b/news/AMD/2023.01.16/AMD Promotes Forrest Norrod to Executive Vice President of Data Center Solutions Busine...txt @@ -0,0 +1 @@ +SANTA CLARA, Calif., Jan. 16, 2023 (GLOBE NEWSWIRE) -- AMD (NASDAQ: AMD) today announced that Forrest Norrod has been promoted to executive vice president and general manager of the Data Center Solutions business group at AMD. The appointment reflects his record of leadership and market growth throughout his tenure with AMD and the strategic role of the data center business to the company’s continued growth strategy.“Under Forrest’s leadership, we have significantly grown our data center business and delivered multiple generations of AMD EPYC processors that combine leadership performance and energy efficiency,” said AMD Chair and CEO Dr. Lisa Su. “The data center is our largest growth opportunity, and we look forward to further expanding our presence with cloud, enterprise and edge customers driven by the industry’s strongest data center portfolio and Forrest’s leadership.”Norrod joined AMD in 2014 and most recently served as senior vice president and general manager of the Data Center Solutions business group. He has more than 30 years of technology industry experience across a number of engineering and business management roles at both the chip and system level.Supporting ResourcesAbout AMDFor more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and Twitter pages.AMD, the AMD Arrow logo, and combinations thereof, are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.Contact:Brandi MartinaAMD Communications+1 512-705-1720Brandi.Martina@amd.comSuresh BhaskaranAMD Investor Relations+1 408-749-2845Suresh.Bhaskaran@amd.com 2023 GlobeNewswire, Inc., source Press Releases - Canada \ No newline at end of file diff --git a/news/AMD/2023.01.16/Protecting Semiconductor Chip Design Under The Semiconductor Chip Protection Act Of 198...txt b/news/AMD/2023.01.16/Protecting Semiconductor Chip Design Under The Semiconductor Chip Protection Act Of 198...txt new file mode 100644 index 0000000000000000000000000000000000000000..a3d06fcf511133b32c4af7bae949ba918608c435 --- /dev/null +++ b/news/AMD/2023.01.16/Protecting Semiconductor Chip Design Under The Semiconductor Chip Protection Act Of 198...txt @@ -0,0 +1,12 @@ +Mask Work InfringementIn analogizing semiconductor chips to traditional areas of copyright law, the legislative history notes that, just as a plagiarist who copies only one chapter of a book may be held liable for infringement, a person may be liable for copying a part of a mask work if it is a qualitatively important portion that results in substantial similarity.This “substantial similarity” test has been applied in cases like Brooktree Corp. v. Advanced Micro Devices, Inc., 977 F.2d 1555 (Fed. Cir. 1992). In Brooktree,  the court stated that “If the copied portion [of the mask work] is qualitatively important, the finder of fact may properly find substantial similarity under copyright law and the Semiconductor Chip Protection Act,” even if other portions of the chip were not copied. Id. at 1564.The principle of “substantial similarity” recognizes that the existence of differences between the accused and copyrighted work may not negate infringement if the material portion of the copyrighted work is appropriated. 17 U.S.C.A. § 106. Whether the copied portions are “material portions” would require resolution on a fact-dependent, case-by-case basis. No hard and fast rule or percentage governs what constitutes “substantial similarity.” Substantial similarity may exist where an important part of the mask work is copied, even though the percentage of the entire chip which is copied may be relatively small. Brooktree Corp. v. Advanced Micro Devices, Inc., 977 F.2d 1555, 1564 (C.A. Fed. (Cal.),1992)TakeawayIt is always recommended for a mask work applicant to identify the “novel points” in the design during the registration step (e.g., by specifying the material portions in the MW form when registering the mask work). The registration history may be introduced as one piece of evidence to show the materiality of the copied portions.Mask Work Infringement DefenseAs a defendant in a mask work infringement case, a statutory defense is “reverse engineering” authorized by the SCPA. This reverse engineering provision explicitly protects industry practices and encourages innovation.Under the SCPA, it is not an infringement of an owner's exclusive right and protected mask work for another person, through reverse-engineering, to photograph and to study the mask work for the purpose of analyzing its circuitry—correction—the circuitry, logic flow, and organization of the components used in the mask work and to incorporate such analysis into an original mask work.To satisfy the “reverse engineering” defense, a defendant needs to establish at least two things: (1) the end product is a result of a reverse engineering effort (e.g., based on paper trials), and (2) the end product is itself original. In performing reverse engineering a person may disassemble, study, and analyze an existing chip in order to understand it. This knowledge may be used to create an original chip having a different design layout, but which performs the same or equivalent function as the existing chip, without penalty or prohibition.Therefore, it is insufficient for a defendant to only demonstrate the reverse engineering effort without showing the “originality” of its accused design. In Brooktree, the Federal Circuit analyzed the defendant's paper trail but held that “the sheer volume of paper” was not dispositive. Id. at 1569. The paper trail in that case was susceptible to an interpretation that the defendant copied the chip. The court held that the jury was entitled to weigh the evidence and consider the differences in the chips as well as the similarities, and could find the similarities sufficient to invalidate the reverse engineering defense. Id.TakeawayWhen using the “reverse engineering” defense authorized by SCPA, the defendant needs not only to demonstrate the evidence of the “reverse engineering”, but also that the accused product is original and a result of the reverse engineering process and effort.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Pengju (PJ) Shang +Sheppard Mullin Richter & Hampton +333 Hope Street, 48th Floor +Silicon Valley +California +90071 +UNITED STATES +Fax: 2136201398 +E-mail: mbennett@sheppardmullin.com +URL: www.sheppardmullin.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AMD/2023.01.23/Brace yourself for a flurry of earnings.txt b/news/AMD/2023.01.23/Brace yourself for a flurry of earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..3dee605962a5fa10502e724db28416649f160073 --- /dev/null +++ b/news/AMD/2023.01.23/Brace yourself for a flurry of earnings.txt @@ -0,0 +1,38 @@ + +Indeed, this week there will be about 20 earnings releases from very large companies, with a capitalization of more than $100 billion. Among them, Microsoft, Johnson & Johnson or Danaher tomorrow. Tesla, ASML and Abbott on Wednesday, then Visa, LVMH, Mastercard and Intel on Thursday. Before Chevron and American Express on Friday. For the record, U.S. companies in the traditional sectors generally publish before the opening of Wall Street, while technology companies are subscribed to the post-close. In addition to ASML and LVMH, the European agenda this week includes a few other iconic companies, such as Diageo, SAP, Atlas Copco, STMicroelectronics, Sartorius Stedim Biotech and Nokia. + +Why is this important? Because corporate results and forecasts are the reality on the ground for investors who have been juggling conflicting macroeconomic currents for a few weeks. The quality of the figures will affect the morale and perception of investors. When I talk about the reality on the ground, I am talking about the reality of listed companies, which is not entirely representative of the general economic situation. If they face the same backdrop as small businesses, they have many more levers to present their situation in a favorable light. +Last week, financial markets managed to salvage their weekly performance thanks to a rebound on Friday. This did not allow the S&P500 to post a positive weekly balance, as it ended the week -0.66% lower, despite gains of 1.9% on Friday. For the Nasdaq, on the other hand, the 2.86% surge at the close brought the index back into the green for the week, with a small increase of 0.67%. American technology stocks have thus recorded their third week of growth in 2023. +Investors are relying on their favorite triple driver of the moment: a soft economic landing, a recovery in China and the normalization of monetary policy by the Fed. The appetite for risk returns at a pivotal time for the market. Investors didn't pay much attention to the hard-line fringe of the Fed's central bankers last week, who reiterated that there is still a long way to go to overcome inflation. However, they did listen to several other members of the central bank, who were clearly more relaxed and called for a moderation of monetary tightening. Hence the nice acceleration in risk assets to close the week, before entering the hard part of the corporate earnings season starting tomorrow. +The other important element of the week is the Lunar New Year festivities in Asia. Several major stock markets are closed this morning. Shanghai will not open for the week. Trading will not resume until Wednesday in Seoul and Thursday in Hong Kong. Other markets like Singapore and Taiwan are also closed for varying lengths of time. +  +Economic highlights of the day: +Few appointments on the agenda today, apart from the index of leading indicators in the United States, which is not very followed. All the agenda is here.  +The dollar is slightly up to EUR 0.9213 and GBP 0.8106. The ounce of gold fell 0.4% to USD 1918. The North Sea Brent crude rose 1.3% to USD 87.27 per barrel and U.S. light crude WTI 0.9% to USD 81.39. The yield on 10-year US debt bounced back to 3.46%. Bitcoin is trading around its best recent levels, near USD 22,800. +  +In corporate news: +* Salesforce was up nearly 4 percent in pre-market trading after Reuters reports that activist fund Elliott Management has taken a multibillion-dollar stake in the IT group. +* Goldman Sachs asset management arm will significantly reduce its $59 billion in alternative investments that are weighing on the bank's performance, an executive told Reuters. +* Western Digital and Japan's Kioxia Holdings are in advanced discussions for a possible merger that will involve a dual listing, Bloomberg reported Friday. Western Digital shares were up 1.4 percent in premarket trading. +* Apple wants India to account for as much as 25 percent of its production, up from about 5 percent to 7 percent now, India's commerce minister said Monday. +* PayPal Holdings was down 2.1% in premarket trading after the German cartel regulator announced that it was launching proceedings against the group on suspicion of possible antitrust violations. +* Baker Hughes reported a lower-than-expected fourth-quarter profit as the oilfield services company struggled with component shortages, the impact of inflation and disruptions caused by the war in Ukraine. +* Spotify Technology announced plans to cut 6% of its workforce, or about 600 positions. The stock was up 3.5% in pre-market trading. +* Silvergate Capital, a cryptocurrency specialist, assured Friday after-hours that it had limited exposure to Genesis, the latest player in the sector to file for bankruptcy. +* The Abbott Laboratories plant in Michigan, which was at the heart of the 2022 U.S. infant milk shortage due to health problems, is under investigation by the Justice Department, the Wall Street Journal reported Friday. +  +Analyst recommendations: + +Advanced Micro Devices: Barclays upgraded its recommendation to "overweight" from "equal weight" +Applied Materials: Barclays downgrades to underweight from equal-weight. PT down 18% to $90. +Associated British Foods: Deutsche Bank upgrades from hold to buy targeting GBp 2180. +Close Brothers: Investec upgrades to hold from sell. PT down 1.9% to 955 pence. +KLA Corp: Barclays downgrades to underweight from equal-weight. PT down 21% to $325. +Pendragon: Jefferies resumes its Buy rating, targeting GBp 25. +PTC: KeyBanc Capital Markets upgrades to overweight from sector weight. PT up 19% to $155. +Qualcomm: Barclays upgraded its recommendation to "overweight" from "equal weight" +Skyworks: Barclays upgrades to overweight from equal-weight. PT up 21% to $125. +Vodafone: Jefferies remains "Hold" with a price target reduced from GBp 100 to GBp 85. +Warner Music: Barclays downgrades to equal-weight from overweight. PT down 1.6% to $35. +Western Digital: Exane BNP Paribas upgrades to neutral from underperform. PT up 9.2% to $42. + diff --git a/news/AMD/2023.01.23/Futures subdued with earnings in full swing, Salesforce up on Elliot stake.txt b/news/AMD/2023.01.23/Futures subdued with earnings in full swing, Salesforce up on Elliot stake.txt new file mode 100644 index 0000000000000000000000000000000000000000..f4eba452fa5f535afb60f0cd18ea53e7a323e657 --- /dev/null +++ b/news/AMD/2023.01.23/Futures subdued with earnings in full swing, Salesforce up on Elliot stake.txt @@ -0,0 +1 @@ +A slew of earnings in the coming weeks will also test the recent bounce in certain technology and growth stocks that took a large hit last year. Concerns of a possible recession amid a high interest rate environment have hit growth-related sectors, driving major tech companies such as Microsoft Corp, Amazon.com Inc and Alphabet Inc to lay off thousands of employees. Companies which make up more than half the S&P 500 index's market value will report earnings in the next two weeks, with Microsoft, the second-largest U.S. firm by market value, posting results on Tuesday, Tesla Inc and IBM on Wednesday and Intel on Thursday. Shares of cloud-based software firm Salesforce Inc rose 4.0% in premarket trading to lead gains among Dow components after activist investor Elliott Management Corp made a multi-billion-dollar investment in the company, according to people familiar with the matter. At 6:17 a.m. ET, Dow e-minis were down 5 points, or 0.01%, S&P 500 e-minis were down 3.25 points, or 0.08%, and Nasdaq 100 e-minis were down 5.75 points, or 0.05%. Data recently has pointed to some signs of inflation cooling but has also highlighted a tight labor market, which is key for the Federal Reserve to continue its aggressive rate-hiking cycle. Qualcomm Inc and Advanced Micro Devices Inc climbed around 2% each, after brokerage Barclays upgraded the chipmakers to "overweight" from "equal-weight". Payments firm PayPal Holdings Inc fell 2.1% after Germany's cartel office regulator said it had initiated proceedings against PayPal Europe over possible hindrance against competitors. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AMD/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt b/news/AMD/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt new file mode 100644 index 0000000000000000000000000000000000000000..e0450486bc3422bc88ca51d082472ea1496dc692 --- /dev/null +++ b/news/AMD/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Activist investor Elliott Management takes stake in +Salesforce*Baker Hughes falls on missing Q4 profit estimates*Futures up: Dow 0.24%, S&P 0.16%, Nasdaq 0.20%Jan 23 (Reuters) - U.S. stock indexes were set to open +higher at the start of another big week for corporate earnings, +with Salesforce leading gains on Monday following news that +Elliott Management had acquired a stake.A slew of earnings in the coming weeks will also test the +recent bounce in certain technology and growth stocks that took +a large hit last year. The tech-focused Nasdaq index was +the only major Wall Street benchmark that ended the previous +week higher.Concerns of a possible recession amid a high interest rate +environment have hit growth-related sectors, driving major tech +companies such as Microsoft Corp, Amazon.com Inc +and Alphabet Inc to lay off thousands of +employees.Companies which make up more than half the S&P 500 index's +market value will report earnings in the next two weeks, +with Microsoft, the second-largest U.S. firm by market value, +posting results on Tuesday, Tesla Inc and IBM +on Wednesday and Intel on Thursday.Analysts now expect year-over-year fourth-quarter earnings +from S&P 500 companies to decline 2.9%, according to IBES +Refinitiv data, compared with a 1.6% decline at the beginning of +the year."It's going to be a situation where I'm expecting to hear +weakness, not strength from corporate America," said Adam +Sarhan, chief executive of 50 Park Investments in New York."It's much better to lower expectations and then beat weak +expectations then it is to raise your guidance or have strong +expectations and then miss."Investors also await January manufacturing and +fourth-quarter GDP data for a clearer picture of the impact the +Federal Reserve's aggressive rate hikes have had on the economy.Data recently has signaled cooling inflation but has also +highlighted a tight labor market that offers the central bank +room to stick with its aggressive policy tightening.Shares of cloud-based software firm Salesforce Inc +rose 4.7% in premarket trading to lead gains among Dow +components after activist investor Elliott Management Corp made +a multi-billion-dollar investment in the company, according to +people familiar with the matter.At 8:39 a.m. ET, Dow e-minis were up 79 points, or +0.24%, S&P 500 e-minis were up 6.25 points, or 0.16%, +and Nasdaq 100 e-minis were up 23.5 points, or 0.2%.Among other stocks, Baker Hughes Co slid 1.4% on +missing fourth-quarter profit estimates, hit by component +shortages and supply chain disruptions.Xylem Inc fell 8.3% on its acquisition of water +treatment solutions firm Evoqua Water Technologies Corp +in a $7.42 billion deal. Evoqua shares jumped 13.7%.Qualcomm Inc and Advanced Micro Devices Inc +climbed above 2% each, after brokerage Barclays upgraded the +chipmakers to "overweight" from "equal-weight".Western Digital Corp rose 4.0% on a report that the +memory chip maker could merge with Japan's Kioxia Holdings. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AMD/2023.01.23/Wall Street extends gains as chipmakers lead tech shares higher.txt b/news/AMD/2023.01.23/Wall Street extends gains as chipmakers lead tech shares higher.txt new file mode 100644 index 0000000000000000000000000000000000000000..6847e8d2e82155b57b1f2a285169b5a05d5e70c7 --- /dev/null +++ b/news/AMD/2023.01.23/Wall Street extends gains as chipmakers lead tech shares higher.txt @@ -0,0 +1,46 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Baker Hughes falls on missing Q4 profit estimates*Activist investor Elliott Management takes stake in +Salesforce*Xylem top percentage decliner on S&P 500*Indexes up: Nasdaq 1.93%, S&P 1.29%, Dow 0.83%Jan 23 (Reuters) - U.S. stock indexes rose on Monday, +with the Nasdaq jumping nearly 2%, as gains in shares of +chipmakers helped ease pressure on the battered technology +sector at the start of another big week for corporate earnings.All of the 11 major S&P 500 sector indexes were up by +early afternoon trading, with a 2.5% rise in tech stocks +making them the biggest gainers.Qualcomm Inc and Advanced Micro Devices Inc +jumped about 8% each after Barclays upgraded their +stocks to "overweight" from "equal-weight". The Philadelphia SE +Semiconductor index was up 4.6% to hit a more than +one-month high.Western Digital Corp jumped 7.06% on a report that +the memory chipmaker could merge with Japan's Kioxia Holdings."All those names and sectors (chipmakers) in general +just got beat up much more than the market in general overall. +So now in a lot of those names, there's value," said Jimmy Lee, +chief executive officer of Wealth Consulting Group."It was a tough year for technology investors. So you're +starting to see investors going back into some of those names. +But instead of across the board, they'll be buying the names +that have a chance to do good this year, even in a choppy +economic environment."The communication services, consumer +discretionary and tech sectors are the top gainers in +January, after clocking big declines in 2022.Investors are eyeing results from Microsoft Corp +, Tesla Inc, IBM Corp and Intel Corp +this week to see how their businesses are coping with +the threat of an economic slowdown triggered by the Federal +Reserve's aggressive policy tightening.Analysts are expecting a 3% drop in earnings from S&P +500 companies, according to Refinitiv data, much wider than +their forecast of a 1.6% drop at the beginning of the year.At 12:36 p.m. ET, the Dow Jones Industrial Average +was up 278.26 points, or 0.83%, at 33,653.75, the S&P 500 +was up 51.07 points, or 1.29%, at 4,023.68, and the +Nasdaq Composite was up 214.83 points, or 1.93%, at +11,355.27.Baker Hughes Co dipped 0.4% on missing estimates for +fourth-quarter profit.Cloud-based software firm Salesforce Inc rose 3.62% +after activist investor Elliott Management Corp made a +multi-billion-dollar investment in the company, according to +people familiar with the matter.Xylem Inc dropped 8.74% on its acquisition of water +treatment solutions firm Evoqua Water Technologies Corp +in a $7.42 billion deal. Evoqua shares surged 14.50%.Investors are awaiting January manufacturing and +fourth-quarter GDP data during the week.Although recent data has signaled cooling inflation, a +tight labor market may keep the central bank on its aggressive +policy tightening path until rates rise over 5%, a level backed +by most policymakers.Advancing issues outnumbered decliners by a 3.40-to-1 ratio +on the NYSE and by a 1.90-to-1 ratio on the Nasdaq.The S&P index recorded nine new 52-week highs and no new +low, while the Nasdaq recorded 60 new highs and 12 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/AMD/2023.01.23/Wall Street rises as chipmakers lead tech shares higher.txt b/news/AMD/2023.01.23/Wall Street rises as chipmakers lead tech shares higher.txt new file mode 100644 index 0000000000000000000000000000000000000000..bc9f1fe4aab44dfdc15175ae775a4017bb2d3af5 --- /dev/null +++ b/news/AMD/2023.01.23/Wall Street rises as chipmakers lead tech shares higher.txt @@ -0,0 +1,43 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Activist investor Elliott Management takes stake in +Salesforce*Baker Hughes falls on missing Q4 profit estimates*Indexes up: Nasdaq 1.05%, S&P 0.59%, Dow 0.23%Jan 23 (Reuters) - U.S. stock indexes rose on Monday as +gains in shares of chipmakers helped ease pressure on the +battered technology sector at the start of another big week for +corporate earnings.Investors are eyeing results from Microsoft Corp, +Tesla Inc, IBM and Intel this week to +see how their business are coping with the threat of an economic +slowdown triggered by the Federal Reserve's aggressive policy +tightening.Six of the 11 major S&P 500 sector indexes were up in early +trading, with a 1.3% rise in tech stocks making them +the biggest gainers.Qualcomm Inc and Advanced Micro Devices Inc +climbed 4.5% and 7%, respectively, after Barclays +upgraded their stocks to "overweight" from "equal-weight".Western Digital Corp jumped 6% on a report that the +memory chipmaker could merge with Japan's Kioxia Holdings.Those gains helped the Philadelphia SE Semiconductor +Index add 2.9% and hit a one-month high."All those names and sectors (chipmakers) in general +just got beat up much more than the market in general overall. +So now in a lot of those names, there's value," said Jimmy Lee, +chief executive officer of Wealth Consulting Group."It was a tough year for technology investors. So you're +starting to see investors going back into some of those names. +But instead of across the board, they'll be buying the names +that have a chance to do good this year, even in a choppy +economic environment."Analysts now expect fourth-quarter earnings from S&P 500 +companies to fall 2.9%, according to IBES Refinitiv data, +compared with a 1.6% drop at the beginning of the year.Investors are also awaiting January manufacturing and +fourth-quarter GDP data to assess the impact of the Fed's rate +hikes on the economy.Although recent data has signaled cooling inflation, a tight +labor market may keep the central bank on its aggressive policy +tightening path until rates rise over 5%, a level backed by most +policymakers.At 10:04 a.m. ET the Dow Jones Industrial Average was +up 76.08 points, or 0.23%, at 33,451.57, the S&P 500 was +up 23.24 points, or 0.59%, at 3,995.85 and the Nasdaq Composite +was up 117.16 points, or 1.05%, at 11,257.59.Cloud-based software firm Salesforce Inc rose 2.0% +to lead gains among Dow components after activist investor +Elliott Management Corp made a multi-billion-dollar investment +in the company, according to people familiar with the matter.Baker Hughes Co slid 1.1% on missing fourth-quarter +profit estimates, hit by component shortages and supply chain +disruptions.Advancing issues outnumbered decliners by a 2.05-to-1 ratio +on the NYSE and by a 1.60-to-1 ratio on the Nasdaq.The S&P index recorded two new 52-week highs and no new low, +while the Nasdaq recorded 35 new highs and six new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/AMD/2023.01.24/Futures edge lower as earnings roll in, chipmakers retreat.txt b/news/AMD/2023.01.24/Futures edge lower as earnings roll in, chipmakers retreat.txt new file mode 100644 index 0000000000000000000000000000000000000000..2f5baa8272610391273993d5c7a8e2ec335315ea --- /dev/null +++ b/news/AMD/2023.01.24/Futures edge lower as earnings roll in, chipmakers retreat.txt @@ -0,0 +1 @@ +In a week packed with high-profile earnings reports and key economic data, investors will now look to assess the impact of the Federal Reserve's rate-hiking spree. The central bank is widely expected to raise rates by another quarter of a percentage point next week.Industrial conglomerate 3M Co fell 2.5%, leading the decliners among Dow components in premarket trading, after reporting a fall in quarterly profit.General Electric Co slipped 2.6% as it forecast a lower-than-expected 2023 adjusted profit.Johnson & Johnson, however, rose 2.2% after the healthcare giant beat estimates for fourth-quarter profit.Wall Street's main indexes started the earnings-heavy week on solid ground amid renewed appetite for growth stocks following a battering last year.After logging its biggest gain in over two months on Monday, Advanced Micro Devices Inc slipped 2.5% as brokerage Bernstein downgraded the chipmaker to "market-perform" from "outperform" citing a bleak outlook for the PC market.Other chipmakers including Nvidia Corp, Intel Corp and Broadcom Inc fell between 0.4% and 1%.Analysts now see fourth-quarter earnings for S&P 500 companies dropping 3% year-on-year, nearly twice as much as the 1.6% annual drop seen at the beginning of the year, per Refinitiv data.At 6:58 a.m. ET, Dow e-minis were down 65 points, or 0.19%, S&P 500 e-minis were down 9 points, or 0.22%, and Nasdaq 100 e-minis were down 49.5 points, or 0.41%.Other major growth stocks also dipped, with Alphabet Inc falling 1.1%. The U.S. Justice Department is poised to sue Google as soon as Tuesday, according to a report, regarding its dominance over the digital advertising market.Microsoft Corp is scheduled to report quarterly earnings after the bell. Shares of the company inched 0.1% lower.Zions Bancorporation slid 2.7% after Chief Executive Harris Simmons warned that the lender continued to build loan loss reserves on recession worries.Data from S&P Global later in the day will likely show flash manufacturing PMI fell to 46.0 in January from a final reading of 46.2 in December, while flash services PMI rose to 45 this month from 44.7 in December. (Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/AMD/2023.01.24/Wall Street edges lower as earnings kick into high gear.txt b/news/AMD/2023.01.24/Wall Street edges lower as earnings kick into high gear.txt new file mode 100644 index 0000000000000000000000000000000000000000..0660929cb698c86f12e7e6bd460cd5ea38d818e7 --- /dev/null +++ b/news/AMD/2023.01.24/Wall Street edges lower as earnings kick into high gear.txt @@ -0,0 +1,44 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*3M slides on downbeat Q1 forecast*J&J falls on sales warning; GE down on weak profit view*Microsoft to report quarterly earnings after market close*Indexes: S&P and Nasdaq down 0.1%, Dow flatJan 24 (Reuters) -Wall Street slipped on Tuesday after industry bellwethers +3M, Johnson & Johnson and GE warned of a challenging year ahead, +while a technical issue at the New York Stock Exchange briefly +halted trading in some stocks shortly after the opening bell.More than 80 NYSE-listed stocks were affected by theglitch, with shares of companies including Nike Inc and +Walmart Inc seeing big swings in opening prices.The problem sowed confusion among traders on an +earnings-heavy day, where the market reaction to the quarterly +results of some of the biggest companies was in focus.Industrial conglomerate 3M Co fell 5.7% as it +forecast a gloomy first quarter.Verizon Communications Inc dropped 0.4% after +forecasting annual profit below estimates, while Johnson & +Johnson fell 1.3% as it warned that a surge in China +COVID-19 cases could dent the first half sales in 2023.General Electric Co fell 0.2% on a disappointing +profit forecast for the year, despite topping quarterly earnings +estimates."The problem today is mainly earnings," said Fall Ainina, +research director at James Investments. "Now many are +forecasting a profit recession, which is back-to-back quarters +of negative earnings."Wall Street's main indexes started the week on a strong note +amid renewed appetite for growth stocks following a battering +last year.After logging its biggest gain in over two months on Monday, +Advanced Micro Devices Inc slipped 3.2% as Bernstein +downgraded it to "market-perform" from "outperform".The Philadelphia SE Semiconductor index dropped 0.7% +to slip from its one-month high.Big Tech earnings could also determine whether renewed +enthusiasm for growth stocks will be sustained."In the near-term, the answer seemingly lies with tech +earnings ... longer-term, if we do experience a Fed pivot this +year, then would anticipate a strong, positive buying impulse +for tech," JPMorgan analysts wrote in a client note.Microsoft Corp is scheduled to report quarterly +earnings after the bell.Analysts now see fourth-quarter earnings for S&P 500 +companies dropping 2.9% year-on-year, according to Refinitiv +data.The fourth-quarter earnings season is keenly watched as +companies are expected to feel the full impact of the Federal +Reserve's rate-hike campaign. The central bank is expected to +raise rates by another quarter of a percentage point next week.At 12:31 p.m. ET, the Dow Jones Industrial Average +was up 0.20 points, or 0.00%, at 33,629.76, the S&P 500 +was down 5.95 points, or 0.15%, at 4,013.86, and the Nasdaq +Composite was down 14.26 points, or 0.13%, at 11,350.15.Travelers Companiesadded 2.6% after the insurer reported +better-than-expected fourth-quarter revenue.Other major growth stocks also dipped, with Alphabet Inc +down 1.1%. The U.S. Justice Department will be joined +by about eight states in an antitrust lawsuit against Alphabet's +Google that is expected to be filed this week.Advancing issues outnumbered decliners by a 1.13-to-1 ratio +on the NYSE. Declining issues outnumbered advancers for a +1.08-to-1 ratio on the Nasdaq.The S&P index recorded 27 new 52-week highs and 10 new +lows, while the Nasdaq recorded 60 new highs and 18 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/AMD/2023.01.26/Stumbling Intel, seeing AMD gain ground, says it will recover balance.txt b/news/AMD/2023.01.26/Stumbling Intel, seeing AMD gain ground, says it will recover balance.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d9afe92da1d8b53a16af6348575941860a456ac --- /dev/null +++ b/news/AMD/2023.01.26/Stumbling Intel, seeing AMD gain ground, says it will recover balance.txt @@ -0,0 +1 @@ +The company shocked the market on Thursday with a revenue outlook that was behind Wall Street estimates by about $3 billion. The weakness of the global economy only makes Intel's challenges more difficult.Intel is still the three hundred pound gorilla in the market of microprocessors, called central processing units (CPUs), the brains of computers, and it says it has passed through the worst of a revamp under a new chief executive."We stumbled, right? We lost share; we lost momentum. We think that stabilizes this year," Chief Executive Pat Gelsinger told investors on a conference call.Intel still dominates the markets for PC and server processing chips, with a market share greater than 70%, tech research firm IDC calculated. But that is down from more than 90% in those markets in 2017."Someone going from 1% to 13% is significant. It tells you that now there's a viable second competitor in the server processor market, who has momentum and is gaining momentum," said IDC analyst Shane Rau.That competitor is Advanced Micro Devices which under the leadership of Chief Executive Lisa Su has come back from the brink of bankruptcy and has been taking business away from Intel quarter after quarter. AMD's market capitalization is about the same as Intel's, a sign of investor confidence in AMD's growth prospects.Rau said Intel and AMD would both face macroeconomic headwinds and challenges related to rolling out their newest chips, but that Intel also had the bigger issue of a chip glut to deal with. "I don't think Intel is in a position yet to start recovering share" in the market, he said.Customers of processors cannot launch products if new chip designs are late, and Intel has stumbled on delivering its latest data-center chip, code named Sapphire Rapids."Sapphire Rapids was about two years late. And so because of that, AMD has leapfrogged them," said Bob O'Donnell of TECHnalysis Research.Worse for Intel, the benchmarks published by the two companies show that AMD's latest server chip outperforms Sapphire Rapids on "general purpose workloads", according to Bernstein analyst Stacy Rasgon. Intel has rising competition, too, as graphics chip maker Nvidia branches into central processors and former processor customers, including Apple and Amazon, design their own chips.Gelsinger said that 2023 would be a year of stabilizing then re-acceleration. Intel had taken some painful steps and now needed to execute on a good plan, he said. Some agree. "Intel's turnaround is taking some time, exacerbated by the economy, but I believe its plan is working," said Glenn O'Donnell, analyst at Forrester Research. "It is delivering on new products and its manufacturing is ramping up with agreements from other chipmakers to use Intel's manufacturing capacity."Investors, meanwhile, are looking for the next piece of evidence: AMD will report its results on Tuesday. (Reporting By Jane Lanhee Lee and Chavi Mehta; Editing by Peter Henderson and Bradley Perrett)By Jane Lanhee Lee and Chavi Mehta \ No newline at end of file diff --git a/news/AMD/2023.01.27/Intel leads chip stock selloff after bleak outlook.txt b/news/AMD/2023.01.27/Intel leads chip stock selloff after bleak outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..65609f677b901a9d1522f971a6b4355141c3d2ef --- /dev/null +++ b/news/AMD/2023.01.27/Intel leads chip stock selloff after bleak outlook.txt @@ -0,0 +1 @@ +Intel said it lost momentum and market share to Advanced Micro Devices and other chip rivals but vowed to regain its footing.Wall Street was skeptical, however, as the stock fell more than 10% at the open, leading a decline in shares of chipmakers across the board.The challenge from AMD is playing out as tech spending slumps globally, complicating Intel's efforts to clear a record inventory glut. Business spending on tech is falling sharply as customers grow wary of a recession, and consumer electronics demand has weakened.That's a headwind for Intel and AMD, both of which are rolling out new chips, but Intel is facing a larger inventory problem. Intel still dominates in PC and server processing chips, with more than 70% of the market, according to tech research firm IDC. But that is down from over 90% in 2017.Intel also faces competition from Nvidia, which is branching out into central processors. It also faces competition from its former customers, including Apple and Amazon, which are designing their own chips. \ No newline at end of file diff --git a/news/AMD/2023.01.27/Intel's 'historic collapse' sparks selloff in chip stocks.txt b/news/AMD/2023.01.27/Intel's 'historic collapse' sparks selloff in chip stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..3349b6c7fc16b04ddb0fb30c974c371794e40d3b --- /dev/null +++ b/news/AMD/2023.01.27/Intel's 'historic collapse' sparks selloff in chip stocks.txt @@ -0,0 +1 @@ +The company's shares were down 10% in premarket trading after Intel predicted a surprise loss for the period and provided a revenue forecast that was below estimates by $3 billion.Intel supplier KLA Corp fell more than 5% after its own dismal forecast, while Advanced Micro Devices, Nvidia, Applied Materials and Qualcom lost between 0.8% and 3.2%.The projections put Intel on track for some of its worst results on record and underscore the challenges facing Chief Executive Pat Gelsinger due to a post-pandemic slump in PC demand and slowing growth in the data center business. "No words can portray or explain the historic collapse of Intel," said Hans Mosesmann, analyst at Rosenblatt Securities, who was among the 16 analysts who cut their price targets on the stock. Once the dominant player in both PC and data center markets, the company has been steadily losing share to rivals such as AMD, which has used contract chipmakers such as Taiwan-based TSMC to make chips that outpace Intel's technology. Some analysts said that puts Intel at a disadvantage even when the data center market bottoms out, expected in the second half of 2022, as it would have lost even more share by then. "AMD's Genoa and Bergamo chips have a strong price-performance advantage compared to Intel's Sapphire Rapids processors, which should drive further AMD share gains," said Matt Wegner, analyst at YipitData.Intel's results are also expected to sharply reduce the cash flow available to the company at a time when the CEO is trying to revive the business by expanding contract manufacturing and building new factories in the United States and Europe. "It is now clear why Intel needs to cut so much cost as the company's original plans prove to be fantasy," Bernstein analysts said. (Reporting by Aditya Soni, Nivedita Balu and Chavi Mehta in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/AMD/2023.01.27/Wall St set for subdued open as Intel warning hits chip stocks.txt b/news/AMD/2023.01.27/Wall St set for subdued open as Intel warning hits chip stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..1e9e2db1776992bae209d6e12d1013f3f5d1ca81 --- /dev/null +++ b/news/AMD/2023.01.27/Wall St set for subdued open as Intel warning hits chip stocks.txt @@ -0,0 +1 @@ +The Commerce Department's personal consumption expenditures (PCE) index showed a 0.1% rise last month after a similar increase in November. U.S. consumer spending also fell in December, putting the economy on a lower growth path heading into 2023. Traders of futures tied to the Fed's policy rate kept bets that the central bank will raise rates just once more beyond next week's widely expected quarter-point hike before stopping. Markets expect the terminal rate to rise to 4.9% in June, still below many policymakers expectations of beyond 5%."That in-line data is certainly going to be sufficient to justify the Fed slowing down to a 25 basis point rate hike when they make their decision on February 1st," said Art Hogan, chief market strategist at B Riley Wealth."We had expectations for better data and this better news is likely priced in, so then you can shift your focus to things like earnings and while (they are) a mixed bag, we are still getting more good news than bad news." Intel tumbled -9.5% in premarket trading after the company reported its worst revenue slump in at least two decades and warned of additional losses amid weak demand for personal computers.Rival Advanced Micro Devices Inc eased -2.6%, while Nvidia Corp and Applied Materials Inc fell -1.5% and -2.9%, respectively. Second largest U.S. oil producer Chevron Corp, slid -1.4% on quarterly earnings falling shy of analyst estimates undercut by an asset writedowns and a retreat in oil and gas prices.In a bright spot, American Express Co jumped 6.7% on raising its earnings forecast for 2023 above street expectations, while credit card rival Visa Inc added 1.5% on upbeat quarterly results.At 8:49 a.m. ET, Dow e-minis were up 1 points, or 0%, S&P 500 e-minis were down 11.75 points, or 0.29%, and Nasdaq 100 e-minis were down 53.25 points, or 0.44%.Market sentiment during the week was shaped by investors tracking the cautious tone heralded by companies drawing attention to concerns of a tough macro environment. Wall Street is still set to end the week higher aided by renewed appetite for growth stocks earlier in the month. Nearly a quarter of S&P 500 companies have reported earnings so far, of which 69% have beaten analysts' estimates, according to Refinitiv data as of Thursday. (Reporting by Bansari Mayur Kamdar, Johann M Cherian and Shreyashi Sanyal in Bengaluru; Additional reporting by Amruta Khandekar; Editing by Vinay Dwivedi)By Bansari Mayur Kamdar and Johann M Cherian \ No newline at end of file diff --git a/news/AMD/2023.01.31/AMD forecasts first-quarter revenue below expectations.txt b/news/AMD/2023.01.31/AMD forecasts first-quarter revenue below expectations.txt new file mode 100644 index 0000000000000000000000000000000000000000..13295ed32b59c24701818c3a80227d46935a6553 --- /dev/null +++ b/news/AMD/2023.01.31/AMD forecasts first-quarter revenue below expectations.txt @@ -0,0 +1 @@ +The company forecast current-quarter revenue of $5.3 billion, plus or minus $300 million. Analysts on average expected revenue of $5.48 billion, according to Refinitiv data. (Reporting by Chavi Mehta in Bengaluru; Editing by Anil D'Silva) \ No newline at end of file diff --git a/news/AMD/2023.01.31/AMD revenue beats targets, Wall St relieved after Intel's grim outlook.txt b/news/AMD/2023.01.31/AMD revenue beats targets, Wall St relieved after Intel's grim outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..f17248181920fc62f23ad27852ced21f1d9f5d39 --- /dev/null +++ b/news/AMD/2023.01.31/AMD revenue beats targets, Wall St relieved after Intel's grim outlook.txt @@ -0,0 +1,41 @@ +Jan 31 (Reuters) -U.S. chip maker Advanced Micro Devices Inc on +Tuesday posted revenue that beat Wall Street targets and said it +expected business to improve in the second half, enthusing +investors who saw the company gaining on rival Intel.Shares rose about 1.5% in after hours trading. Although +AMD's forecast was behind expectations, it was not as weak as +some worried. Recent earnings reports for both Intel and AMD +show the once fast growing data center business will be more +challenging for all chip makers as companies adjust their +spending."AMD remained resilient and even made gains in their +datacenter chips...against Intel," said Wayne Lam analyst at CCS +Insight.Chief Executive Lisa Su said she was confident AMD will +keep gaining market share this year and that the second half +would be stronger than the first.While Intel Corp. still dominates the PC and +server processing chip markets with a share exceeding 70%, that +is down from more than 90% in 2017, according to tech research +firm IDC. A big chunk of that share was taken by AMD.AMD's Data Center segment revenue grew 42% to $1.7 +billion during the fourth quarter, offsetting a 51% drop in +revenue of the client segment that includes PCs at $903 million.PC shipments fell 16.5% to 292.3 million units in 2022, +according to data from research firm IDC.Su said that AMD was expecting the PC market this year +to be down 10% and it would "continue to ship below consumption +in the first quarter to reduce downstream inventory"."First quarter should be the bottom for us in PCs and +then grow from there into the second quarter and then into the +second half," Su said on the earnings call.The slumping PC business pummeled Intel's first-quarter +outlook and Intel Chief Executive Pat Gelsinger said he was +seeing "some of the largest inventory corrections literally that +we've ever seen in the industry.""I think we will still see pain across the industry for at +least another few quarters before things turn around," said +Anshel Sag, analyst at Moor Insights & Strategy."We believe AMD’s results continue to show softness across +the PC and gaming markets," said Angelo Zino, analyst at CFRA +Research. "We also expect revenue levels in both segments to +trough in the first half of this year."AMD had already started under-shipping last year in response +to plummeting processor demand.This decline led chipmakers to slash revenue forecasts, +triggering a sell-off in chip stocks. AMD's stock fell 55% last +year, underperforming the Philadelphia SE Semiconductor index +during an industry downturnAdjusted fourth-quarter revenue rose 16% to $5.60 billion. +Analysts on average were expecting revenue of $5.50 billion, +according to Refinitiv data.The company forecast current-quarter revenue of $5.3 +billion, plus or minus $300 million. Analysts on average +expected revenue of $5.48 billion, according to Refinitiv data.(Reporting by Chavi Mehta in Bengaluru Jane Lanhee Lee in +Oakland, Calif; Editing by Anil D'Silva, Jonathan Oatis and +David Gregorio) \ No newline at end of file diff --git a/news/AMD/2023.01.31/Advanced Micro : Q4 Earnings Snapshot.txt b/news/AMD/2023.01.31/Advanced Micro : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..f1287f6db31646ddc630c3b97c13f0281777064f --- /dev/null +++ b/news/AMD/2023.01.31/Advanced Micro : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +SANTA CLARA, Calif. (AP) _ Advanced Micro Devices Inc. (AMD) on Tuesday reported fourth-quarter earnings of $21 million.On a per-share basis, the Santa Clara, California-based company said it had profit of 1 cent. Earnings, adjusted for one-time gains and costs, came to 69 cents per share.The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.The chipmaker posted revenue of $5.6 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $5.51 billion.For the year, the company reported profit of $1.32 billion, or 84 cents per share. Revenue was reported as $23.6 billion.For the current quarter ending in March, Advanced Micro said it expects revenue in the range of $5 billion to $5.6 billion. Analysts surveyed by Zacks had expected revenue of $5.93 billion.Advanced Micro shares have risen 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $75.15, a fall of 34% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMD at https://www.zacks.com/ap/AMDCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/AMD/2023.01.31/Advanced Micro Devices : Slide Presentation Q4 & FY 2022.txt b/news/AMD/2023.01.31/Advanced Micro Devices : Slide Presentation Q4 & FY 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..6295288f7040e5e97a2d53bc6172f74a129296bc --- /dev/null +++ b/news/AMD/2023.01.31/Advanced Micro Devices : Slide Presentation Q4 & FY 2022.txt @@ -0,0 +1,515 @@ + + + + + + + AMD + + + + + Fourth Quarter and + + + + + + + Full Year 2022 + + + + + + + FINANCIAL + + + + + + + RESULTS + + + + + January 31, 2023 + + + + + + + + + + + + + + + CAUTIONARY STATEMENT + + + This presentation contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as the features, functionality, performance, availability, timing and expected benefits of AMD products; AMD's expected first quarter of 2023 and fiscal 2023 financial outlook, including revenue, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP interest expense, taxes and other, non-GAAP tax rates and diluted share count; AMD's total addressable market; and AMD's ability to drive long-term shareholder returns, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this presentation are based on current beliefs, assumptions and expectations, speak only as of the date of this presentation and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation's dominance of the microprocessor market and its aggressive business practices; global economic uncertainty; cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; loss of a significant customer; impact of the COVID-19 pandemic on AMD's business, financial condition and results of operations; competitive markets in which AMD's products are sold; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD's products; AMD's ability to introduce products on a timely basis with expected features and performance levels; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyber-attacks; potential difficulties in upgrading and operating AMD's new enterprise resource planning system; uncertainties involving the ordering and shipment of AMD's products; AMD's reliance on third-party intellectual property to design and introduce new products in a timely manner; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD's products; AMD's reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD's internal business processes and information systems; compatibility of AMD's products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD's supply chain; AMD's ability to rely on third party supply-chain logistics functions; AMD's ability to effectively control sales of its products on the gray market; impact of government actions and regulations such as export administration regulations, tariffs and trade protection measures; AMD's ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals-related provisions and other laws or regulations; impact of acquisitions, joint ventures and/or investments, including acquisitions of Xilinx and Pensando, on AMD's business and AMD's ability to integrate acquired businesses; impact of any impairment of the combined company's assets on the combined company's financial position and results of operation; restrictions imposed by agreements governing AMD's notes, the guarantees of Xilinx's notes and the revolving credit facility; AMD's indebtedness; AMD's ability to generate sufficient cash to meet its working capital requirements or generate sufficient revenue and operating cash flow to make all of its planned R&D or strategic investments; political, legal, economic risks and natural disasters; future impairments of goodwill and technology license purchases; AMD's ability to attract and retain qualified personnel; AMD's stock price volatility; and worldwide political conditions. Investors are urged to review in detail the risks and uncertainties in AMD's Securities and Exchange Commission filings, including but not limited to AMD's most recent reports on Forms 10-K and 10-Q. + + + NON-GAAP FINANCIAL MEASURES + + + In this presentation, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP earnings per share and free cash flow. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2022, AMD uses a non-GAAP tax rate of 13%, which excludes the tax impact of pre-taxnon-GAAP adjustments. For fiscal year 2023, AMD uses a projected non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non GAAP adjustments, reflecting currently available information. In addition, AMD provided pro forma revenue for the year ended December 31, 2022 and December 25, 2021 which include unaudited Xilinx pre-acquisition revenue from January 2, 2022 to February 13, 2022 and for the twelve months ended January 1, 2022, respectively, as supplemental information. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD's performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance. The non-GAAP financial measures disclosed in this presentation should be viewed in addition to and not as a substitute for or superior to AMD's reported results prepared in accordance with GAAP and should be read only in conjunction with AMD's Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the Appendices at the end of this presentation. This presentation also contains forward-lookingnon-GAAP measures concerning AMD's financial outlook such as gross margin, operating expenses, interest expense, taxes and other. These forward-lookingnon-GAAP measures are based on current expectations as of January 31, 2023, and assumptions and beliefs that involve numerous risks and uncertainties. AMD undertakes no intent or obligation to publicly update or revise its forward-looking statements made in this presentation except as may be required by law. + + + + + 2 2 Q4 AND FY 2022 FINANCIAL RESULTS - JANUARY 31, 2023 + + + + + + + OUR JOURNEY + + + + + + Leadership + + + + + + + Expanding Customer + + + + + + + Data Center and + + + + + + + Strong + + + + + + + Product Portfolio + + + + + + + & Partner Ecosystem + + + + + + + Embedded Growth + + + + + + + Financial Foundation + + + + + + + + + + + + + + + + + + + + + + + + 3 3 Q4 AND FY 2022 FINANCIAL RESULTS - JANUARY 31, 2023 + + + + + + + OUR LEADERSHIP TECHNOLOGY + + + + + + Industry-Leading IP + + + + + + + Advanced Technology + + + + + + + Data Center Leadership + + + + + + + Software Enablement + + + + + + + Executing leadership CPU, + + + + + + + Driving leadership + + + + + + + Delivering innovation in + + + + + + + Open-source software + + + + + + + GPU, DPU, FPGA and Adaptive + + + + + + + process technology and + + + + + + + cloud, enterprise, AI and + + + + + + + co-designed with hardware and + + + + + + + SoC products and roadmaps + + + + + + + 3D chiplet packaging + + + + + + + accelerated computing + + + + + + + optimized for performance + + + + + + + + + + + + + + + + + + + across heterogenous solutions + + + + + + + + + + + + + + + + + + + + + + + + 4 4 Q4 AND FY 2022 FINANCIAL RESULTS - JANUARY 31, 2023 + + + + + + + OUR LEADERSHIP PRODUCTS + + + + + + + + + + + + + + + + + + + + + + Data Center + + + + + + + Client + + + + + + + Gaming + + + + + + + Embedded + + + + + + + Leadership data center + + + + + + + Leadership CPUs and APUs for + + + + + + + Top-to-bottom desktop and + + + + + + + Leadership FPGAs, + + + + + + + solutions with server CPUs, + + + + + + + notebook and desktop PCs and + + + + + + + notebook GPUs, game console + + + + + + + Adaptive SoCs and SoMs, and + + + + + + + GPUs, FPGAs, DPUs + + + + + + + commercial workstations + + + + + + + and semi-custom SoCs + + + + + + + embedded CPUs and GPUs + + + + + + + and Adaptive SoCs + + + + + + + + + + + + + + + for a broad set of markets + + + + + + + + + + + + + + + + + + + + + + + + 5 5 Q4 AND FY 2022 FINANCIAL RESULTS - JANUARY 31, 2023 + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +AMD - Advanced Micro Devices Inc. published this content on 31 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2023 22:07:01 UTC. + + diff --git a/news/AMD/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt b/news/AMD/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d3f81417321caae04ff9d49cdf90aeb52759543 --- /dev/null +++ b/news/AMD/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt @@ -0,0 +1 @@ +There's an uncomfortable feeling in markets this week that good news may be bad news once again - mainly because of what the former means for this week's big central banking set pieces.As U.S. Federal Reserve's Federal Open Market Committee kicks off its two-day policymaking meeting, the economic news from around the world brightened considerably. Possibly wary of a premature easing of financial conditions before its tightening campaign is finished, some investors suspect the Fed may want to hang tough for a bit longer - stressing more needs to be done to ensure inflation is licked even as it slows the pace of rate hikes another notch to a quarter point rise on Wednesday.Another one-two of half point rate rises from the European Central Bank and Bank of England the following day adds to the trepidation, not least with Spain reminding everyone on Monday that inflation rates can re-accelerate again even after peaking.And if global recession is avoided, the hawkishness may persist. That's why China's new year bounce back from COVID-lockdowns and the euro zone dodging a downturn due to falling energy prices in a warm winter matter so much. They account for the world's second and third biggest economic areas.China's economic activity swung back to growth in January after three months of contraction, according to official business surveys released on Tuesday.The euro zone economy confounded forecasts for a quarterly contraction of gross domestic product in the final three months of 2022. Eurostat estimated GDP in the bloc rose 0.1% in Q4 despite consensus expectations for a fall of 0.1%.And if the significant energy price relief of the past two months means activity picked up further early this year, the long-standing assumptions for a winter euro zone recession will evaporate.Underlining the point, the International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly due to "surprisingly resilient" demand in the United States and Europe, easing energy costs and China's reopening.Dogged by Brexit, tax rises and serial labour strikes, Britain was the clear outlier and is the only G7 nation to have suffered a cut to its 2023 IMF, with the economy set to shrink by 0.6% this year - a sharp downgrade from the prior IMF forecast.The constellation leaves markets on the back foot as they await the big monetary policy decisions.Deep in the weeds of the latest corporate earnings season - with more than a fifth of S&P500 firms reporting this week alone and Apple, Amazon and Alphabet all due on Thursday - Wall St stock futures remain in the red after a dour start to the week on Monday. European and Asia bourses were lower too. The dollar has picked up across the board, with two-year U.S. Treasury yields giving back only some of their gains to near three-week highs on Monday.Despite the upbeat macro news, China tech stocks dropped 1.7% on media reports that the Biden administration has stopped approving licenses for U.S. companies to export most items to China's Huawei, signalling new tension in the Sino-U.S. tech war.UniCredit jumped 8.1% to the top of STOXX 600 after the giant Italian lender pledged to return 5.25 billion euros ($5.69 billion) to investors based on its 2022 results after posting its best profit in more than a decade.UBS shares fell 3% after the Swiss banking giant predicted an "uncertain" year ahead plagued by accelerating inflation and higher interest rates - even as it beat estimates, upped its dividend and proposed another $5 billion stock buyback this year.Indian billionaire Gautam Adani's $2.5 billion share sale inched closer to full subscription on Tuesday as investors pumped in funds after a tumultuous week for his group in which its stocks were pummelled by a scathing short-seller reportKey developments that may provide direction to U.S. markets later on Tuesday: * U.S. Federal Reserve's Federal Open Market Committee starts two-day meeting * U.S. Q4 employment costs, Jan consumer confidence, Chicago PMI business survey, Dallas Fed services index, Nov house prices* U.S. corp earnings: Exxon Mobil, Marathon, Pfizer, McDonald's, UPS, Amgen, Caterpillar, AMD, Stryker, Mondelez, Moody's, GM, MSCI, Electronic Arts, Spotify, Snap, Chubb, Western Digital, Juniper Networks, Boston Properties, Edwards Lifesciences, Match, Sysco, Corning, Pentair, Intl Paper, AO Smith, Dover (By Mike Dolan, editing by Ed Osmond, mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/AMD/2023.02.01/AMD shares jump as earnings defy collapse seen at Intel.txt b/news/AMD/2023.02.01/AMD shares jump as earnings defy collapse seen at Intel.txt new file mode 100644 index 0000000000000000000000000000000000000000..a086a6160a013ebdad5940d6a7004633a91e0a7e --- /dev/null +++ b/news/AMD/2023.02.01/AMD shares jump as earnings defy collapse seen at Intel.txt @@ -0,0 +1 @@ +At least 11 analysts lifted their ratings on the stock, cheering results that defied the "historic collapse" seen at rival Intel Corp and stoked expectations for further gains in the server market this year. Lisa Su-led AMD on Tuesday posted quarterly revenue that beat Wall Street targets, but its sales forecast for the three months to March 31 fell short of estimates by over $150 million."While on an absolute basis results were not great, relative to their larger competitor's report last week the print came across much better," Bernstein analysts said in a note."Intel appears to be affected in a much worse way." AMD's data center business revenue grew 42% in the quarter, compared with the 33% decline recorded at Intel's data center and artificial intelligence unit in the same period.The data center market has slowed in recent months due to lower spending from recession-wary businesses, but AMD's faster and smaller chips have allowed it to gain ground on Intel."AMD can continue to beat Intel in the data center space due to its leading design," said Lucas Keh, semiconductors analyst at Third Bridge.J.P. Morgan pegged AMD's share gain in the server market this year at 5 to 7 percentage points to between 28% and 30%.The company, which started under-shipping PC chips last year in response to plummeting processor demand, said sales at the business that includes its PC chip unit fell 51% in the quarter."First quarter should be the bottom for us in PCs and then grow from there into the second quarter and then into the second half," Su said. (Reporting by Aditya Soni in Bengaluru)By Aditya Soni \ No newline at end of file diff --git a/news/AMD/2023.02.01/Electronic Arts, WestRock fall; Stryker, Peloton rise.txt b/news/AMD/2023.02.01/Electronic Arts, WestRock fall; Stryker, Peloton rise.txt new file mode 100644 index 0000000000000000000000000000000000000000..2b02f275086d6c3018b79deeffc8d84fd15fbf00 --- /dev/null +++ b/news/AMD/2023.02.01/Electronic Arts, WestRock fall; Stryker, Peloton rise.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday:Advanced Micro Devices Inc., up $9.49 to $84.64.The chipmaker's fourth-quarter financial results beat Wall Street forecasts.Electronic Arts Inc., down $11.92 to $116.76.The maker of “The Sims”, “FIFA” and other video games cut its revenue forecast for its fiscal year.Peloton Interactive Inc., up $3.43 to $16.36.The exercise bike and treadmill company reported strong fiscal second-quarter revenue.Stryker Corp., up $25.14 to 278.95.The medical device maker gave investors a strong profit forecast for the year.Brinker International Inc., down 18 cents to $39.28.The operator of Chili’s Grill & Bar reported strong financial results, but warned about economic uncertainty potentially hurting its forecasts.Thermo Fisher Scientific Inc., up $17.03 to $587.36.The maker of scientific instruments and laboratory supplies gave investors an encouraging profit forecast.WestRock Co., down $4.97 to $34.27.The paper and packaging company withdrew its earnings forecast for the year citing economic uncertainty.Waste Management Inc., down 32 cents to $154.41.The garbage and recycling hauler's fourth-quarter profit and revenue fell short of Wall Street forecasts.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMD/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt b/news/AMD/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..4d971c2fd50c98f9986744551e5f5b1613fdce60 --- /dev/null +++ b/news/AMD/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt @@ -0,0 +1 @@ +The Fed is widely seen as raising its target interest rate by a quarter of a percentage point in its first policy meeting of the year, after the rapid increases in 2022 to tame decades-high inflation.Investors will also likely parse Chair Jerome Powell news conference for clues on the trajectory of future rate hikes.Money markets are betting on one more 25 basis point (bps) hike in March, and a terminal rate of 4.9% in June. "A rise by 25 bps is likely to be interpreted as a more cautious move... officials will hope that the central bank's aggressive tightening slows economic activity and wage growth without causing a recessionary spike in the unemployment rate," said Richard Flynn, UK managing director at Charles Schwab.Recent readings have indicated that inflation is easing, with the Fed also looking at data which will determine the resilience of the labor market and the pace of wage growth.The ADP National Employment report, due at 0815 a.m. ET, is expected to show that private payrolls increased in January by 178,000, which is less than the 235,000 rise in the previous month, as per a Reuters poll. The survey will be seen as a precursor to the Labor Department's more comprehensive reading on nonfarm payrolls for January on Friday. On Tuesday, Wall Street indexes reversed declines and rallied when the Fed's preferred wages gauge, the U.S. Employment Cost index, showed its smallest increase in a year during the fourth quarter.Halfway into the busiest week of earnings season, videogame publisher Electronic Arts Inc slumped 10.1% in premarket trading on lowering its annual bookings forecast.Snap Inc tumbled 15% after the social media company said it expects current-quarter revenue to decline by as much as 10%. Other social media and internet firms like Meta Platforms Inc, Alphabet Inc and Pinterest were flat to 0.7% lower. Facebook parent Meta is expected to report quarterly results after the bell.Bucking the recent nervousness among chipmakers, Advanced Micro Devices Inc added 3.4% after projecting that it expects its business to improve in the second half of the year, boosting hopes that it is gaining on rival Intel Corp. Intel shares dipped 0.1%. At 7:25 a.m. ET, Dow e-minis were down 122 points, or 0.36%, S&P 500 e-minis were down 7.25 points, or 0.18%, and Nasdaq 100 e-minis were up 7.5 points, or 0.06%. Dow Jones Industrial Average component Amgen Inc fell 1.1% as the drugmaker said its fourth-quarter revenue fell slightly. As of Tuesday, quarterly earnings of S&P 500 firms are expected to decline 2.4%, improving from 3% decline in the previous session as per Refinitiv. (Reporting by Johann M Cherian and Shreyashi Sanyal in Bengaluru; Additional reporting by Sruthi Shankar; Editing by Sriraj Kalluvila)By Johann M Cherian \ No newline at end of file diff --git a/news/AMD/2023.02.01/Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap... .txt b/news/AMD/2023.02.01/Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap... .txt new file mode 100644 index 0000000000000000000000000000000000000000..94c1062d217e3295cb76267f64d928b4fd2096a2 --- /dev/null +++ b/news/AMD/2023.02.01/Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap... .txt @@ -0,0 +1,29 @@ + +  +  +Corporate news: + +Advanced Micro Devices: the stock gains 1.4% after better-than-expected Q4 results. +Amgen: Q4 results are quite good, but the stock is not moving much after the session. +Electronic Arts: the video game publisher misses the quarterly consensus, causing the stock to drop more than 10% in after-hours trading. +GSK: reports fourth-quarter profit and revenue above estimates. +Novartis: Full-year revenue below expectations but profitability beats consensus. +Novo Nordisk: expects sales growth between 13% and 19% in 2023. +PayPal to cut nearly 7% of its global workforce. +Snap: stock loses 15% in after-hours trading after announcing a net loss in the fourth quarter and pessimistic forecasts +Software AG: the group is targeting a lower than expected operating margin in 2023. +Vale: the Brazilian mining giant's Q4 production came in below expectations. +T-Mobile US and Meta Platforms are expected to release their quarterly results after the close. + +  +In other news: + +The rout of Adani Enterprises and its subsidiaries continues in Mumbai, after attacks by short seller Hindenburg. +Contemporary Amperex Technology may launch a secondary listing in Zurich. +Credit Suisse is considering transferring its private equity business to the First Boston spin-off. +BMW raises prices on some models in China due to rising costs. +After poor performance, Intel is cutting executive pay. +Tesla is reportedly looking to build an assembly plant near the new Mexico City airport. +Short seller Quintessential Capital Management pins Darktrace. + +Today's main earnings reports: Meta Platforms, Alibaba, Novo Nordisk, Costco Wholesale, Thermo Fisher, T-Mobile, Novartis, Keyence, Glencore, GSK, Vodafone, BBVA, Orsted... All the agenda is here. diff --git a/news/AMD/2023.02.01/Vodafone's Europe woes, Darktrace in trouble: Marke...txt b/news/AMD/2023.02.01/Vodafone's Europe woes, Darktrace in trouble: Marke...txt new file mode 100644 index 0000000000000000000000000000000000000000..e7a08a8bd8d7edbb168640f7fbfc02c5617e2e05 --- /dev/null +++ b/news/AMD/2023.02.01/Vodafone's Europe woes, Darktrace in trouble: Marke...txt @@ -0,0 +1,9 @@ + +Orpea, Vonovia, Vodafone, Darktrace, GSK, BBVA, Universal Music Group, Intel, Advanced Micro Devices, Electronic Arts, Exxon, Snap, Xylem & Evoqua Water Technologies, Spotify, General Motors, PayPal, Nomura and SK Hynix feature in this press review! + + + + +  + +  diff --git a/news/AMD/2023.02.01/Wall St falls as Fed decision looms; AMD boosts chipmakers.txt b/news/AMD/2023.02.01/Wall St falls as Fed decision looms; AMD boosts chipmakers.txt new file mode 100644 index 0000000000000000000000000000000000000000..33bc8bed16cfe5038070f37e6d43e2cd7590f998 --- /dev/null +++ b/news/AMD/2023.02.01/Wall St falls as Fed decision looms; AMD boosts chipmakers.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Fed's rate decision expected at 1400 ET*AMD expects strong second half of 2023*Amgen weighs on Dow as Q4 revenue falls slightly*EA cuts bookings view, shares slide*Indexes down: Dow 1.12%, S&P 0.63%, Nasdaq 0.44%Feb 1 (Reuters) - U.S. stock indexes fell on Wednesday +ahead of the Federal Reserve's decision on interest rates later +in the day, while an upbeat outlook from Advanced Micro Devices +lifted chipmakers.The Fed is widely seen as raising its target interest rate +by a quarter of a percentage point in its first policy meeting +of the year, after rapid increases in 2022 to tame decades-high +inflation.Money markets are betting on one more 25 basis point (bps) +hike in March, and a terminal rate of 4.9% in June."It's really boiling down to a longer term outlook +beyond this policy meeting and where this peak terminal rate +with Fed funds is going to be," Adam Turnquist, chief technical +strategist at LPL Financial.Recent readings have indicated that inflation is easing, +with the Fed also looking at data that will determine the +resilience of the labor market and the pace of wage growth.Meanwhile, data showed U.S. job openings unexpectedly rose +in December ahead of the Labor Department's comprehensive report +on nonfarm payrolls for January due on Friday.Separately, data showed U.S. manufacturing contracted +further in January as higher interest rates stifled demand for +goods."It's going to come down to the narrow line between +avoiding a recession and entering a recession. That's the Fed's +issue as they finish up their two-day policy meeting today," +Turnquist added.All three indexes had a strong start to the year, with +the S&P and the Dow witnessing their first gain +for January since 2019 as investors returned to markets, which +were bruised in the previous year by a hawkish Fed.Advanced Micro Devices Inc added 8.0% as the +semiconductor maker said it expects its business to improve in +the second half of the year, propping the Philadelphia SE +Semiconductor index, which climbed 1.8%.All of the 11 major sectors on the S&P 500 were down, with +technology shares falling the least.Snap Inc tumbled 14.2% after the social media +company said it expects current-quarter revenue to decline by as +much as 10%.Facebook parent Meta Platforms Inc dipped 0.1% +ahead of reporting fourth-quarter results after the bell.At 12:21 p.m. ET, the Dow Jones Industrial Average +was down 381.36 points, or 1.12%, at 33,704.68, the S&P +500 was down 25.69 points, or 0.63%, at 4,050.91, and the +Nasdaq Composite was down 51.42 points, or 0.44%, at +11,533.13.Dow component Amgen Inc dropped 4.8% as the +drugmaker said its fourth-quarter revenue fell slightly, while +videogame publisher Electronic Arts Inc slumped 12.0% on +lowering its annual bookings forecast.Seventy percent of the 200 companies in the S&P 500 that +have reported fourth-quarter earnings have topped Wall Street +expectations. Analysts now see earnings of S&P 500 firms +declining 2.4% for the quarter, per Refinitiv estimates.Declining issues outnumbered advancers for a 1.48-to-1 +ratio on the NYSE and for a 1.13-to-1 ratio on the Nasdaq.The S&P index recorded 13 new 52-week highs and no new low, +while the Nasdaq recorded 75 new highs and 21 new lows.(Reporting by Johann M Cherian and Shreyashi Sanyal in +Bengaluru; Additional reporting by Ankika Biswas; Editing by +Sriraj Kalluvila and Maju Samuel) \ No newline at end of file diff --git a/news/AMD/2023.02.03/Intel faces yet another EU antitrust fine despite court win last year.txt b/news/AMD/2023.02.03/Intel faces yet another EU antitrust fine despite court win last year.txt new file mode 100644 index 0000000000000000000000000000000000000000..47ed544b882b8237978fb2f1bd7b096952a33f56 --- /dev/null +++ b/news/AMD/2023.02.03/Intel faces yet another EU antitrust fine despite court win last year.txt @@ -0,0 +1 @@ +euro ($1.2 billion) penalty imposed 14 years ago for hindering a rival, the U.S. chipmaker said in a regulatory filing.Intel last year convinced Europe's second-top court to scrap the fine handed out by the European Commission in 2009 for giving rebates to four computer makers to buy most of their chips from the company and not from rival Advanced Micro Devices. "The General Court's January 2022 decision did not annul the EC's 2009 finding that Intel made payments to prevent sales of specific rival products, and in January 2023 the EC reopened its administrative procedure to determine a fine against Intel based on that alleged conduct," the company said in a Jan. 26 filing."Given the procedural posture and the nature of this proceeding, we are unable to make a reasonable estimate of the potential loss or range of losses, if any, that might arise from this matter," it said.Companies risk fines up to 10% of their global turnover for EU antitrust breaches.($1 = 0.9217 euros) (Reporting by Foo Yun Chee, Editing by Louise Heavens)By Foo Yun Chee \ No newline at end of file diff --git a/news/AMD/2023.02.03/PUMP | DUMP : Strong results for Align and AMD.txt b/news/AMD/2023.02.03/PUMP | DUMP : Strong results for Align and AMD.txt new file mode 100644 index 0000000000000000000000000000000000000000..1bec17e5bcc460c5962747fd9ea37fc6de6edb60 --- /dev/null +++ b/news/AMD/2023.02.03/PUMP | DUMP : Strong results for Align and AMD.txt @@ -0,0 +1,15 @@ + +This week, Zur Rose, Align Technology, ITM Power, Advanced Micro Devices, Adani Enterprises, Software AG, Electronic Arts, ConocoPhillips, and Kesko are featured! + + + + +  + +  +  +  +  +  +  +  diff --git a/news/AMD/2023.02.09/AMD wins nearly a third of processor market, Arm's climb slows, analyst report.txt b/news/AMD/2023.02.09/AMD wins nearly a third of processor market, Arm's climb slows, analyst report.txt new file mode 100644 index 0000000000000000000000000000000000000000..31608f969e9ba17986e75a05d42a866afe9ac2f5 --- /dev/null +++ b/news/AMD/2023.02.09/AMD wins nearly a third of processor market, Arm's climb slows, analyst report.txt @@ -0,0 +1 @@ +AMD has grabbed share away from Intel Corp, which still remains the largest player in the market for what are known as x86 processors, which work with popular operating systems like Microsoft Corp's Windows. In the fourth quarter, Intel had 68.7% market share for x86 processors versus AMD's 31.3%, which was up from 28.5% a year earlier, according to Mercury Research.The results came amid what Mercury Research President Dean McCarron said in the report was the worst downturn in the PC chip market since the 1980s and possibly the worst in the industry's history. After snapping up PCs and laptops for working from home during the pandemic, consumers and businesses have slowed their purchases amid rising inflation and economic uncertainty.But the slowdown has played out differently for AMD and Intel. AMD last month beat Wall Street sales expectations while Intel conceded that it has "stumbled" in competing with its longtime rival, with Intel's expected losses forcing broad employee pay cuts.AMD declined to comment on the analyst report. Arm was not immediately available for comment.But the PC sales slump has also affected Apple Inc's Mac computer lineup, which is the leading source of sales for Arm-based PC chips.Mercury said Arm PC chips, led by Apple's in-house chips but also joined by Qualcomm Inc's recent PC chips for Windows machines, now have 13.3% share of the market PC chips, down from 14.6% a quarter earlier but still up from 10.3% share a year ago.Arm, which is owned by Japan's Softbank Group Corp, licenses its technology to companies like Apple and Qualcomm to make into PC chips and has made expansion into new markets like PCs a major part of is sales growth strategy ahead of an expected initial public offering later this year. (Reporting by Stephen Nellis in San Francisco; editing by Diane Craft)By Stephen Nellis \ No newline at end of file diff --git a/news/AMD/2023.02.10/ChatGPT frenzy sweeps China as firms scramble for home-grown options.txt b/news/AMD/2023.02.10/ChatGPT frenzy sweeps China as firms scramble for home-grown options.txt new file mode 100644 index 0000000000000000000000000000000000000000..bd67475a7eb86074e24bba86d71f7df5506a6bb4 --- /dev/null +++ b/news/AMD/2023.02.10/ChatGPT frenzy sweeps China as firms scramble for home-grown options.txt @@ -0,0 +1 @@ +While residents in the country are unable to create OpenAI accounts to access the artificial intelligence-powered (AI) chatbot, virtual private networks (VPN) and foreign phone numbers are helping some bypass those restrictions.At the same time, the OpenAI models behind the ChatGPT programme, which can write essays, recipes and complex computer code, are relatively accessible in China and increasingly being incorporated into Chinese consumer technology applications from social networks to online shopping.The tool's surging popularity is rapidly raising awareness in China about how advanced U.S. AI is and, according to analysts, just how far behind tech firms in the world's second-largest economy are as they scramble to catch up."There is huge excitement around ChatGPT. Unlike the metaverse which faces huge difficulty in finding real-life application, ChatGPT has suddenly helped us achieve human-computer interaction," said Ding Daoshi, director of Beijing-based internet consultancy Sootoo. "The changes it will bring about are more immediate, more direct and way quicker."OpenAI or ChatGPT itself is not blocked by Chinese authorities but OpenAI does not allow users in mainland China, Hong Kong, Iran, Russia and parts of Africa to sign up.OpenAI has never publicly explained those restrictions and did not respond to Reuters' request for comments.In December, Tencent Holdings' WeChat, China's biggest messaging app, shut several ChatGPT-related programmes that had appeared on the network, according to local media reports, but they have continued to spring up.Dozens of bots rigged to ChatGPT technology have emerged on WeChat, with hobbyists using it to make programmes or automated accounts that can interact with users. At least one account charges users a fee of 9.99 yuan ($1.47) to ask 20 questions.Tencent did not respond to Reuters' request for comments.ChatGPT supports Chinese language interaction and is highly capable of conversing in Chinese, which has helped drive its unofficial adoption in the country.Chinese firms also use proxy tools or existing partnerships with Microsoft, which is investing billions of dollars in its OpenAI, to access tools that allow them to embed AI technology into their products.Shenzhen-based Proximai in December introduced a virtual character into its 3D game-like social app who used ChatGPT's underlying tech to converse. Beijing-based entertainment software company Kunlun Tech plans to incorporate ChatGPT in its web browser Opera.SleekFlow, a Tiger Global-backed startup in Hong Kong, said it was integrating the AI into its customer relations messaging tools."We have clients all over the world," Henson Tsai, SleekFlow's founder said. "Among other things, ChatGPT does excellent translations, sometimes better than other solutions available on the market."CENSORSHIPReuters' tests of ChatGPT indicate that the chatbot is not averse to questions that would be sensitive in mainland China. Asked for its thoughts on Chinese President Xi Jinping, for instance, it responded it does not have personal opinions and presented a range of views. But some of its proxy bots on WeChat have blacklisted such terms, according to other Reuters checks, complying with China's heavy censorship of its cyberspace. When asked the same question about Xi on one ChatGPT proxy bot, it responded by saying that the conversation violated rules.To comply with Chinese rules, Proximai's co-founder Will Duan said his platform would filter information presented to users during their interaction with ChatGPT.Chinese regulators, which last year introduced rules to strengthen governance of "deepfake" technology, have not commented on ChatGPT, however, state media this week warned about stock market risks amid a frenzy over local ChatGPT-concept stocks.The Cyberspace Administration of China, the internet regulator, did not respond to Reuters' request for comment."With the regulations released last year, the Chinese government is saying: we already see this technology coming and we want to be ahead of the curve," said Rogier Creemers, an assistant professor at Leiden University. "I fully expect the great majority of the AI-generated content to be non-political."CHINESE RIVALSJoining the buzz have been some of the country's largest tech giants such as Baidu and Alibaba who gave updates this week on AI models they have been working on, prompting their shares to zoom.Baidu said this week it would complete internal testing of its "Ernie Bot" in March, a big AI model the search firm has been working on since 2019.On Wednesday, Alibaba said that its research institute Damo Academy was also testing a ChatGPT-style tool.Duan, whose company has been using a Baidu AI framework named PaddlePaddle for natural language processing, said ChatGPT was at least a generation more powerful than China's current NLP solutions, though it was weaker in some areas, such as understanding conversation context.Baidu did not reply to Reuters' request for comments. Access to OpenAI's GPT-3, or Generative Pre-trained Transformer, was first launched in 2020, an update of which is the backbone of ChatGPT.Duan said potential long-term compliance risks mean Chinese companies would most likely replace ChatGPT with a local alternative, if they could match the U.S.-developed product's functionality. "So we actually hope that there can be alternative solutions in China which we can directly use...it may handle Chinese even better, and it can also better comply with regulations," he said.($1 = 6.7875 Chinese yuan) (Reporting by Josh Ye; Editing by Brenda Goh and Sam Holmes)By Josh Ye \ No newline at end of file diff --git a/news/AMD/2023.02.10/The Bears come back to bother the Bulls.txt b/news/AMD/2023.02.10/The Bears come back to bother the Bulls.txt new file mode 100644 index 0000000000000000000000000000000000000000..7b375913126b2a107c0b068131cfc40b8b09ccdd --- /dev/null +++ b/news/AMD/2023.02.10/The Bears come back to bother the Bulls.txt @@ -0,0 +1,47 @@ + +Investors were down for the second session in a row. The Nasdaq 100 and its technology stocks lost 0.9%, still penalized by a few stars like Alphabet and Meta Platforms. Financials are making a tactical withdrawal after the big gains accumulated on growth stocks at the beginning of the year. As repeated several times since the beginning of the week, they are not entirely comfortable with the outlook for the US central bank's key rates. Or rather, they seem to recognize that their unbridled optimism at the beginning of the year is a bit excessive. A little caution, then, as we await the next statistic that might put a piece back into the machine or dismay investors. In this case, the US inflation figures for January, which will be published next Tuesday.  +The week ends on a more cautious note than it began, but still in an avalanche of corporate results. The dominant figures of the day are those of L'Oréal, whose performance seems to have been hailed by the critics. And those of Lyft, because they earned the U.S. company a 30% plunge outside the session. Adidas is also facing a grimace, as it continues to revise its forecasts downwards. +In Asia Pacific, Japan ended the last session of the week with a gain of 0.3%, but all other markets were in the red. In Hong Kong, the Hang Seng fell by 2%, weighed down by its technology stocks. Things are not going well in Australia either, where the ASX200 lost 0.8% during the session, marking its first weekly decline of the year. +  +Economic highlights of the day: +The U.S. Consumer Sentiment Index compiled by the University of Michigan will focus attention at 10:00 am. All the agenda here. China announced this morning an annual inflation of 2.1% in January, in line with expectations. On the other hand, producer prices continued to contract at a faster pace than expected (-0.8%). + +The dollar remained in the 0.9350 EUR area. The ounce of gold has lost ground to 1863 USD. Oil is steady this morning, with North Sea Brent at USD 86.20 per barrel and U.S. light crude WTI at USD 79.79. The yield on 10-year US debt is back up to 3.66%. Bitcoin has fallen back below USD 22,000. +In corporate news: + +* Lyft lost 32.9 percent in pre-market trading after the U.S. ride-hailing group said it expects profit to fall well short of estimates in the current quarter due to lower prices, amplifying concerns it will lag rival Uber. + +* Intel is considering significantly increasing its $1.5 billion investment in Vietnam to expand its chip testing and assembly facility there. The potential deal could be worth about $1 billion. + +* Advanced Micro Devices has captured nearly a third of the market for central processing units (CPUs)-the main control circuitry in a computer-while the British chip designer Arm's progress in the PC market slowed in the fourth quarter of 2022. It has also taken market share from Intel, but Intel remains the biggest player in the x86 processor market. + +* Microsoft - Bill Gates, co-founder of Microsoft, believes that the chatbot ChatGPT, developed by the U.S. company OpenAI and backed by the computer giant, is as important an invention as the Internet. + +* Tesla raised the starting price in China of its best-selling Model Y vehicle by 0.8 percent to 261,900 yuan ($38,577.11) after aggressive price cuts announced by the electric carmaker earlier this year boosted demand. + +* News Corp, the parent company of media outlets such as The Wall Street Journal, announced Thursday it would cut 1,250 jobs, or 5 percent of its workforce, as the media conglomerate's quarterly profit and revenue failed to meet Wall Street expectations. + +* PayPal reported better-than-expected annual profit on Thursday, while warning of inflationary pressures on discretionary spending. The U.S. payments group also announced the departure of its chief executive Dan Schulman at the end of 2023. + +* Expedia - The online travel booking group reported a lower-than-expected quarterly profit on Thursday, due to an increase in cancellations and poor weather conditions late in the quarter. + +* Chemours, which missed estimates for its fourth-quarter profit on Thursday, nevertheless said it expects higher-than-expected earnings in 2023, due in part to strong demand for components used in semiconductor manufacturing as well as other specialty chemicals. + +* Boeing - A U.S. judge on Thursday night rejected a request by the families of passengers killed in the crashes of two 737 MAX jets to review or reject a so-called deferred prosecution agreement reached in January 2021 between the aircraft manufacturer and the U.S. government.  + +Analyst recommendations: + +Axcelis Technologies: Needham & Co maintains buy rating. Price target up to $140 from $100. +Baxter International: Stifel cut the target to $45 from $55. Maintains buy rating. +Eastman Chemical: Piper Sandler heightened the expectationto $96 from $86 maintaining neutral rating. +Expedia Group: Mizuho Securities raised the price target to $120 from $105. Maintains neutral rating. +First American Financial: Stephens raised the recommendation to overweight from equal-weight. PT set to $72. +Hilton Worldwide: Truist Securities uppepd the goal to $160 from $147. Maintains hold rating. +Lincoln National: Piper Sandler maintains neutral rating. Price target slightly up to $36 from $31. +Lyft: J.P. Morgan downgrades to neutral from overweight. PT down 7.5% to $15. + International Flavors & Fragrances: Barclays cut the target to $82 from $96. Maintains underweight rating. + Onto Innovation: Stifel raised the target to $97 from $85. Maintains buy rating. +AbbVie: SVB raised the recommendation to market perform from underperform. PT set to $153. +WEX: Mizuho Securities maintains buy rating. Price target upgrades to $220 from $200. + + diff --git a/news/AMD/2023.02.10/World Press Review: February 10.txt b/news/AMD/2023.02.10/World Press Review: February 10.txt new file mode 100644 index 0000000000000000000000000000000000000000..9a8e9dfa9ab211d22661b1b421420964091c19ea --- /dev/null +++ b/news/AMD/2023.02.10/World Press Review: February 10.txt @@ -0,0 +1,4 @@ + +Adidas, Barclays, Disney, Lyft, Uber, Southwest Airlines, Shopify, Apollo Global Management, Advanced Micro Devices, Intel, AbbVie, Interpublic Group of Companies, PayPal, Expedia, Semiconductor Manufacturing International Corporation, Tesla + + diff --git a/news/AMD/2023.02.14/Inflation is back (on the calendar).txt b/news/AMD/2023.02.14/Inflation is back (on the calendar).txt new file mode 100644 index 0000000000000000000000000000000000000000..31ca092010c5ce71172e8729f62417cb379923f0 --- /dev/null +++ b/news/AMD/2023.02.14/Inflation is back (on the calendar).txt @@ -0,0 +1,49 @@ + +The indexes all gained more than 1%, thanks in particular to cyclical and technology stocks. The wave of caution that had gripped the stock market last week has tended to recede. That's the problem with these periods of uncertainty: we know it's going up and down, but we don't know by how much. As mentioned yesterday, everyone is waiting for 8:30am and the announcement of January's US inflation to decide whether the rebound will continue or whether it will get deflated. To validate the first hypothesis, inflation must continue to decline for the U.S. central bank to adopt a less aggressive attitude on rates. On the other hand, signals of pressure on prices, which are possible between December and January for seasonal reasons, are likely to frighten financiers. On average, the market expects annual inflation to fall from 6.5% in December to 6.2% in January, but prices to rise by 0.5% over a month. ING points out in passing this morning that these two figures are incompatible because an increase of 0.5% between December and January should translate into an annual inflation of 6.3% or 6.4%. So economists, can't we count anymore? +In the rest of the news, apparently no balloons have been fired in the world sky for at least 24 hours. Tensions on this point remain high between the United States and China. Beijing has accused Washington of flying balloons in Chinese airspace. At least ten in January. According to my information, Brussels is preparing a working group on the subject. The white paper that will come out of it will allow aerial observations to be made from 2027 onwards, with a view to preparing a possible response at the beginning of the next decade. In Japan, Kazuo Ueda, who is 71 years old, will be the new governor of the central bank starting in April. I don't know anything about Japanese banking genealogy, but I noticed that Ueda was not on the list of contenders to succeed Haruhiko Kuroda that had been circulating until last week. This academic has a good reputation, even if he is rumored to owe his place to the evasion of Masayoshi Amamiya, the current deputy governor of the Bank of Japan. On a related note, the Wall Street Journal understands that Joe Biden will announce this week the appointment of current Fed Vice Chair Lael Brainard as head of the Fed's National Economic Council. +To continue on a funnier note, well, funnily enough, I noticed yesterday that Elon Musk appeared in all the suggestions of the MarketScreener Twitter account. I was a bit saddened by this, but I moved on. Apparently, I'm not the only one to have noticed this and a journalist from the American media The Verge also got upset, recalling that the American billionaire had complained a few days ago that his tweets weren't seen enough and that he even fired an engineer for this reason (I didn't check). Apparently, Musk's account has been on a downward slope in terms of popularity since April, with engagement dropping quite a bit. Not being a man to imagine that he could annoy his audience, Elon had a technical problem looked for, estimating that 95% of his tweets were not delivered. His teams having not identified any malfunction, he asked them to look for more. From there, it's only a short step to see a cause and effect relationship with the omnipresence of the boss's tweets in the suggestions of all of us. I guess you could call it ordered freedom of speech. It's really quite reassuring if it's true. The story in a bit more detail here. +New delivery of results today with Coca-Cola, Airbnb, Zoetis, Marriott, Ecolab, GlobalFoundries or Akamai in the United States. For its part, the American Palantir exceeded expectations. +Economic highlights of the day: +The US inflation for January will be presented at 8:30am. All the agenda here. Last night, Japan announced that its GDP grew modestly by 0.2% between Q3 and Q4 2022, less than expected (0.5%). + +The dollar drops to 0.9293 EUR. The ounce of gold is trading at 1857 USD. Oil remains firm, with North Sea Brent crude at USD 85.48 per barrel and U.S. light crude WTI at USD 78.97. The yield on 10-year US debt is back down to 3.69%. Bitcoin is sailing around USD 21,800. + +In corporate news: + + +* Boeing - Tata Group-owned Air India will buy 220 planes from Boeing and 250 planes from Airbus for a total of more than $100 billion at list price. + +* Ford plans to cut 3,800 engineering and administrative jobs in Europe over the next three years to improve its cost structure and competitiveness in electric vehicles, the automaker announced Tuesday. The stock is up 1% in pre-market trading. + +* Tesla adjusted its prices for the fourth time in two months, raising the price of the Model Y Performance and lowering the price of the Model 3 Propulsion. + +* Apple is facing difficulties with the transfer of part of its production to India, as the yield in the manufacture of certain components is less than 50%. + +* Liberty Global said Monday it has acquired a 4.92% stake in British telecom operator Vodafone, but added that it was not considering a takeover bid for the group. + +* Paramount Global is again trying to sell Simon & Schuster after a $2.2 billion deal with Penguin Random House failed last November. + +* Walmart will close three of its U.S. technology centers (Austin, Carlsbad and Portland), which will mean the transfer of hundreds of employees if they want to keep their jobs. + +* Palantir Technologies announced Monday that it expects to post its first full year in the black this year after better-than-expected fourth-quarter results. The stock jumped 17.7% in pre-market trading. + +* Avis Budget Group gained 4.2% in after-hours trading after reporting better-than-expected fourth-quarter results linked to strong demand in the corporate and leisure travel businesses. + +* T-Mobile US - Users of the U.S. telecom operator faced a giant nationwide outage Monday. + +Analyst recommendations: + +Advanced Micro Devices: Benchmark Company raised the target to $103 from $93. Maintains buy rating. +Belden: Benchmark Company increased its price target to $108 from $88. +Fidelity National Information Services: Morgan Stanley moved to overweight from equal-weight. PT set to $79. +Gilead Sciences: Mizuho Securities maintains buy rating. Price target downgrades to $101 from $88. + Interpublic Group: Citi raised its expectations to $45 from $39. Maintains buy rating. +Jupiter Fund Management: Morgan Stanley initiated coverage with a recommendation of equal-weight. Price target set to 152 pence. +Lattice Semiconductor: Susquehanna Financial raised the target to $95 from $75. Maintains positive rating. +Mettler-Toledo: UBS maintains neutral rating. PT upgrades to $1,580 from $1,292. +Occidental Petroleum: Goldman Sachs raised the recommendation to buy from neutral. Price target up 25% to $81. +Royal Caribbean: Macquarie maintains outperform rating and set price target to $85 from $65. +Take-Two Interactive Software: DZ Bank cut the recommendation to hold from buy. PT set to $105 +Willis Towers Watson: Stifel upgraded its price target to $255 from $228. Maintains hold rating. + + diff --git a/news/AMD/2023.02.20/AMD to Present at Morgan Stanley's Technology, Media and Telecom Conference.txt b/news/AMD/2023.02.20/AMD to Present at Morgan Stanley's Technology, Media and Telecom Conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..b9d2573c98534c925908a014b03331e12a8ea630 --- /dev/null +++ b/news/AMD/2023.02.20/AMD to Present at Morgan Stanley's Technology, Media and Telecom Conference.txt @@ -0,0 +1 @@ +SANTA CLARA, Calif., Feb. 20, 2023 (GLOBE NEWSWIRE) -- Today, AMD (NASDAQ: AMD) announced that Mark Papermaster, chief technology officer and executive vice president, Technology and Engineering, will present at the Morgan Stanley Technology, Media and Telecom Conference on Monday, March 6th at 11:35 a.m. EST/8:35 a.m. PST.  A real-time webcast of the presentation can be accessed on AMD’s Investor Relations website ir.amd.com. A replay of the webcast can be accessed after the conclusion of the live event and will be available for one year after the conference.About AMD For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn, Facebook and Twitter pages.AMD, the AMD Arrow logo and the combination thereof are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.Media Contact:Brandi MartinaAMD Communications512-705-1720 brandi.martina@amd.comInvestor Contact:Saskia AdamsAMD Investor Relations408-749-3116saskia.adams@amd.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/AMD/2023.02.22/AMD Expands 5G Telco Market Leadership with New High-Performance and Adaptive Computing...txt b/news/AMD/2023.02.22/AMD Expands 5G Telco Market Leadership with New High-Performance and Adaptive Computing...txt new file mode 100644 index 0000000000000000000000000000000000000000..574e4d9c9a06efb14e351adc28bd12d44ab5d806 --- /dev/null +++ b/news/AMD/2023.02.22/AMD Expands 5G Telco Market Leadership with New High-Performance and Adaptive Computing...txt @@ -0,0 +1 @@ +── Formation of Telco Solutions testing lab with VIAVI underscores AMD 5G leadership and growing momentum with ecosystem partners including Nokia ── ── New 4G/5G Zynq UltraScale+ RFSoC digital front-end devices unveiled to expand communications opportunities and accelerate radio deployments into cost-sensitive markets ── SANTA CLARA, Calif., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Today, AMD (NASDAQ: AMD) announced it will be expanding support of its growing 5G partner ecosystem spanning from core to radio access networks (RAN) applications, delivering additional new test capabilities and unveiling new 5G products. The AMD wireless telecom partner ecosystem has more than doubled in the past year, bolstered by the integration of the AMD and Xilinx product lines as well as the creation of its new Telco Solutions testing lab in collaboration with VIAVI.Telco Solutions Testing Lab The formation of the Telco Solutions testing lab is vital for operators and telco solution providers to test, validate and scale computing resources to deliver on the ever-increasing demands from RAN and edge-to-core. The testing lab supports validation of end-to-end solutions, including both hardware to software to leverage the performance and power efficiencies of the latest AMD processors, Adaptive SoCs, SmartNICs, FPGAs and DPUs. In support of this mission, the VIAVI end-to-end testing suite was selected to provide the network test solution to analyze, develop and validate the impact of real-life conditions across an entire telco network. The Telco Solutions testing lab will enable traffic simulation and generation across core, CU/DU, edge and RAN using both current and future AMD technologies to allow full functional and performance testing that meets current and future generation ecosystem requirements. Based in Santa Clara, Calif., the Telco Solutions testing lab will bring in its first 5G ecosystem partners beginning Q2 of 2023.New Zynq UltraScale+ RFSoC Devices for Emerging 4G/5G Growth Markets The strong adoption of 4G/5G AMD Zynq™ UltraScale+™ RFSoC and MPSoC radio technology has enabled new integrated remote radio unit designs and opened new business opportunities for AMD and its partner ecosystem. AMD is now expanding its Zynq UltraScale+ RFSoC digital front-end (DFE) portfolio with two additions to the family: the Zynq UltraScale+ RFSoC ZU63DR and Zynq UltraScale+ RFSoC ZU64DR devices. These new RFSoCs will enable the expansion and deployment of 4G/5G radios into markets around the globe where lower cost, power and spectrum-efficient radios are required to address increased wireless connectivity.“AMD has made incredible progress in the radio market and is proud to be showcasing at MWC Barcelona our collaboration with over 15 radio system ecosystem partners designing O-RAN-based remote radio units for open interfaces using AMD Zynq UltraScale+ RFSoCs and MPSoCs,” said Salil Raje, senior vice president and general manager, Adaptive and Embedded Computing Group, AMD. “With our focus toward increasing 5G deployments around the world, the new AMD Zynq UltraScale+ RFSoCs are especially cost-effective and energy-efficient, making them ideal for emerging global markets including rural and outdoor deployments.”The Zynq UltraScale+ RFSoC ZU63DR specifically targets four transmit and four receive (4T4R) and dual band entry-level O-RAN radio unit (O-RU) applications. The Zynq UltraScale+ RFSoC ZU64DR is targeted for eight transmit and eight receive (8T8R) O-RU applications using the 3rd Generation Partner Project (3GPP) split-8 option which supports alternative and legacy radio unit architectures.Both RFSoC devices leverage the deep DFE integration available in the flagship Zynq UltraScale+ RFSoC ZU67DR device and are expected to be in full production in Q2 of 2023. AMD will showcase its Zynq UltraScale+ RFSoC DFE family at the upcoming Mobile World Congress (MWC) Barcelona 2023.AMD Ecosystem Momentum with NokiaAs part of the growing AMD telco ecosystem, AMD and Nokia are jointly announcing an expanded collaboration using 4th Gen AMD EPYC™ processor-based servers to deliver Nokia Cloud RAN solutions to help communications service providers achieve their most stringent energy efficiency goals. AMD and Nokia recognize the challenges faced by operators dealing with spiraling energy costs and the growing importance of meeting carbon reduction targets at the core as well as the network edge.“As part of our ambition to provide the best Cloud RAN solutions, we are excited to extend our collaboration with AMD. We are looking to take advantage of the 4th Gen AMD EPYC processor’s capabilities to further enhance Nokia’s Cloud RAN solutions,” said Pasi Toivanen, Head of Partner Cloud RAN Solutions at Nokia. “Communication service providers across 5G Core and Cloud RAN increasingly demand new levels of performance and energy efficiency within their 5G networks. Our work with AMD recognizes the challenges faced by the telecommunications industry and helps to deliver on our partners’ and customers’ most ambitious energy efficiency targets.”5G Innovation at MWC Barcelona 2023At MWC 2023, AMD will showcase the latest 4th Gen AMD EPYC processor-powered systems in conjunction with technology partners including: Amdocs, Groundhog, Juniper and Nokia. 5G ecosystem partners showcasing radio solutions with AMD include: Abside, Astrome, AW2S, CellXica, Comba, Fujitsu, Mavenir, NEC, Solid, Tejas, Ulak, Viettel, VVDN and Zlink. Visit AMD at MWC in Hall 2, Stand 2M61 from February 27 – March 2, 2023.Supporting Resources:About AMDFor more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and Twitter pages. ©2023 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, Zynq, UltraScale+, Xilinx, and combinations thereof are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.Contact:David Szabados AMD Communications(408) 472-2439 david.szabados@amd.comSuresh Bhaskaran AMD Investor Relations(408) 749-2845 Suresh.bhaskaran@amd.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/AMD/2023.02.22/Nvidia forecasts first-quarter revenue above expectations.txt b/news/AMD/2023.02.22/Nvidia forecasts first-quarter revenue above expectations.txt new file mode 100644 index 0000000000000000000000000000000000000000..6b04739e5d225e3b0602e1c1e7388f7d3e21604d --- /dev/null +++ b/news/AMD/2023.02.22/Nvidia forecasts first-quarter revenue above expectations.txt @@ -0,0 +1 @@ +The company forecast current-quarter revenue of $6.50 billion, plus or minus 2%. Analysts on average expect $6.33 billion in revenue, according to Refinitiv data. (Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/AMD/2023.02.23/Futures rise as Nvidia's strong forecast lifts chipmakers.txt b/news/AMD/2023.02.23/Futures rise as Nvidia's strong forecast lifts chipmakers.txt new file mode 100644 index 0000000000000000000000000000000000000000..95d56ae9e8a9554c144dc8cccffb348a1b99c9c4 --- /dev/null +++ b/news/AMD/2023.02.23/Futures rise as Nvidia's strong forecast lifts chipmakers.txt @@ -0,0 +1 @@ +Nvidia Corp surged 9.6% in premarket trading after the chip designer forecast quarterly sales above estimates and reported a surge in the use of its chips to power artificial intelligence services, such as chatbots.Shares of Broadcom Inc, Qualcomm Inc, Intel Corp and Advanced Micro Devices Inc rose between 1.7% and 3.9%.At 07:21 a.m. ET, Dow e-minis were up 99 points, or 0.3%, S&P 500 e-minis were up 21 points, or 0.53%, and Nasdaq 100 e-minis were up 112.5 points, or 0.93%.The benchmark S&P 500 closed lower on Wednesday after minutes from the central bank's Jan. 31-Feb. 1 meeting showed nearly all policymakers supported more rate hikes but agreed that the shift to smaller-sized hikes would let them calibrate better with incoming data.After a strong January, stock markets have run into a volatile patch as evidence of inflation running above the Fed's 2% target, a resilient economy and hawkish commentary by central bank officials fanned concerns about further rate hikes.Those concerns will be at the back of traders' minds as they peruse remarks from Atlanta Fed President Raphael Bostic and San Francisco Fed President Mary Daly later in the day.The second reading of fourth-quarter gross domestic product (GDP) and weekly jobless claims data are also due.Analysts polled by Reuters predict a correction within the next three months even though they expect the S&P 500 to climb 5% by year-end.Among stock, eBay Inc slid 5.2% after warning of dour demand in the first half of 2023 due to strained consumer spending domestically and in Europe. (Reporting by Johann M Cherian in Bengaluru; Editing by Savio D'Souza) \ No newline at end of file diff --git a/news/AMD/2023.02.23/Northern Irish police supect New IRA behind detective shooting.txt b/news/AMD/2023.02.23/Northern Irish police supect New IRA behind detective shooting.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d70b2999f42a264d3721e40bd27d5fcb05b43a9 --- /dev/null +++ b/news/AMD/2023.02.23/Northern Irish police supect New IRA behind detective shooting.txt @@ -0,0 +1 @@ +Detective Chief Inspector John Caldwell was shot a number of times by two gunmen while putting footballs in his car after a youth training session, Assistant Chief Constable Mark McEwan said. He remains in a critical condition in hospial."We are keeping an open mind, there are multiple strands to that investigation. The primary focus is on violent dissident republicans and within that there is a primary focus as well on New IRA," McEwan told BBC Northern Ireland. (Reporting by Padraic Halpin; editing by William James) \ No newline at end of file diff --git a/news/AMD/2023.02.23/Nvidia results show its growing lead in AI chip race.txt b/news/AMD/2023.02.23/Nvidia results show its growing lead in AI chip race.txt new file mode 100644 index 0000000000000000000000000000000000000000..3ab897518e02d1718eefdc3d042bfbe7ef2a6c31 --- /dev/null +++ b/news/AMD/2023.02.23/Nvidia results show its growing lead in AI chip race.txt @@ -0,0 +1 @@ +AI has emerged as a bright spot for investments in the tech industry, whose slowing growth has led to widespread layoffs and a cutback on experimental bets.The surge in interest helped Nvidia report better-than-expected quarterly earnings on Wednesday and forecast sales above beat Wall Street expectations, in stark contrast to a projected loss and dividend cut from rival Intel Corp.Nvidia's market valuation dwarfs that of Intel, AMD https://fingfx.thomsonreuters.com/gfx/buzz/byprlqlbkpe/MicrosoftTeams-image%20(9).png Nvidia shares rose nearly 8% in trading before the bell on Thursday. They have jumped more than 40% since the turn of the year, nearly three times the gain in the Philadelphia Semiconductor Index. It now has a market value of more than $500 billion, about five times that of Intel, and is the seventh-largest publicly traded U.S. firm.The key to the company's success is that it controls about 80% of the market for graphic processing units (GPUs), which are specialized chips that provide the kind of computing power required for services such as Microsoft-backed OpenAI's wildly popular ChatGPT chatbot.SPECIALIZED CHIPSGraphics processing units are designed to handle the specific kind of math involved in AI computing very efficiently, while generic central processing units (CPUs) from Intel can handle a broader range of computing tasks with less efficiency. AI is taking over the tech industry and, according to research firm Gartner, the share of specialized chips such as GPUs that are used in data centers is expected to rise to more than 15% by 2026 from less than 3% in 2020.Advanced Micro Devices, whose shares also rose after Nvidia earnings on Wednesday, is the second-biggest player in the GPU industry, with a market share of roughly 20%. "The two companies that are leading the AI revolution on the hardware and processing side are Nvidia and AMD and, in our opinion, these two companies are head and shoulders above everybody else," Piper Sandler analyst Harsh Kumar said.Lisa Su-led AMD has made big investments in AI in recent years, including a series of chips designed to compete with Nvidia's fastest offerings. Intel holds a less than 1% share of the space. Chipmakers set to reap gains from AI arms race https://www.reuters.com/graphics/AI-CHIPSNVIDIA/gdvzqdxnnpw/chart.png "The enthusiasm around ChatGPT and the potential use case it unlocks likely represents an inflection point in adoption of AI," said Lei Qiu, a technology fund portfolio manager at AllianceBernstein, which has a 0.54% stake in Nvidia."While it is hard to pinpoint exactly how big AI is today as a percent of (Nvidia's) revenue, it has the potential to grow exponentially as large tech companies race to develop similar types of AI applications," Qiu said.Nvidia's strength in the AI industry has also attracted the attention of venture capitalists and startups, which are investing billions of dollars and promising improvements such as lower electricity consumption. None of them have so far made a big dent in Nvidia's business.INTEL NO LONGER INSIDEAll of this is bad news for Intel, which is also shedding CPU market share to AMD in the data center and personal computer industries that it once dominated. The company now risks losing out on the next growth leg of the industry. It has in recent months made efforts to sharpen focus on GPUs including a move in December to split its graphic chips unit into two: one focused on personal computers and the other working on data center and AI.Still, analysts say the company has a long way to go before Intel can make a dent in the market."Intel has more designs it has built to try and penetrate the (AI) market ... but to date it's seen a disappointing amount of traction despite its plethora of solutions," Wedbush Securities analyst Matthew Bryson said. (Reporting by Chavi Mehta in Bengaluru and Stephen Nellis in San Francisco; Editing by Aditya Soni and Anil D'Silva)By Chavi Mehta \ No newline at end of file diff --git a/news/AMD/2023.02.24/Northern Irish police arrest a fifth man over shooting of detective.txt b/news/AMD/2023.02.24/Northern Irish police arrest a fifth man over shooting of detective.txt new file mode 100644 index 0000000000000000000000000000000000000000..14a7ab41bcf9d9f92a01f917b191b65df6b48463 --- /dev/null +++ b/news/AMD/2023.02.24/Northern Irish police arrest a fifth man over shooting of detective.txt @@ -0,0 +1 @@ +A 43-year-old man was arrested in the Stewartstown area of County Tyrone under anti-terrorism laws and is being questioned by detectives, the Police Service of Northern Ireland said in an statement.Four men aged 22, 38, 45 and 47 arrested earlier in connection with the attack remain in police custody. Detective Chief Inspector John Caldwell is in critical condition after undergoing surgery. He was shot a number of times by two gunmen on Wednesday evening while putting footballs in his car after finishing a coaching session with an under-15 soccer team.While a 1998 peace deal largely ended three decades of sectarian violence in Northern Ireland, police officers are still sporadically targeted by splinter groups of mostly Irish nationalist militants opposed to Britain's rule over the region.Assistant Chief Constable for Crime Department Mark McEwan on Friday confirmed that Northern Irish police are treating the attack on Detective Chief Inspector Caldwell as "terrorist-related" and its primary line of enquiry is Irish nationalist militant group the New IRA. (Reporting by Amanda Ferguson; Writing by Graham Fahy; Editing by Sandra Maler)By Amanda Ferguson \ No newline at end of file diff --git a/news/AMD/2023.02.25/Northern Irish police arrest sixth man over shooting of detective.txt b/news/AMD/2023.02.25/Northern Irish police arrest sixth man over shooting of detective.txt new file mode 100644 index 0000000000000000000000000000000000000000..1eec26e3bd9ee243acfc3dc02bb7c064eb18a6ed --- /dev/null +++ b/news/AMD/2023.02.25/Northern Irish police arrest sixth man over shooting of detective.txt @@ -0,0 +1 @@ +A 71-year-old man was detained in Omagh under the Terrorism Act and was taken to Musgrave Serious Crime Suite to be questioned by detectives, the Police Service of Northern Ireland said in a statement. Five men aged 22, 38, 43, 45 and 47 arrested earlier in connection with the attack remain in police custody.Caldwell, a serving police officer for 26 years, is in critical condition after undergoing surgery. He was shot a number of times on Wednesday evening by two gunmen in front of his young son as he was putting footballs in his car after finishing a coaching session with an under-15 soccer team. (Reporting by Sneha Bhowmik in Bengaluru; Editing by Sandra Maler) \ No newline at end of file diff --git a/news/AMGN/2023.01.04/Amgen to present at the 41st annual j.p. morgan healthcare conference.txt b/news/AMGN/2023.01.04/Amgen to present at the 41st annual j.p. morgan healthcare conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..0bb43eee52275eb3ddefa499a86a2b6431f33ae4 --- /dev/null +++ b/news/AMGN/2023.01.04/Amgen to present at the 41st annual j.p. morgan healthcare conference.txt @@ -0,0 +1,17 @@ + + +THOUSAND OAKS, Calif., Jan. 4, 2023 /PRNewswire/ -- Amgen (NASDAQ:AMGN) will present at the 2023 J.P. Morgan Healthcare Conference at 6:45 p.m. ET on Monday, January 9, 2023. Robert A. Bradway, chairman and chief executive officer at Amgen will present at the conference. The webcast will be broadcast over the internet simultaneously and will be available to members of the news media, investors and the general public. +The webcast, as with other selected presentations regarding developments in Amgen's business given by management at certain investor and medical conferences, can be found on Amgen's website, www.amgen.com, under Investors. Information regarding presentation times, webcast availability and webcast links are noted on Amgen's Investor Relations Events Calendar. The webcast will be archived and available for replay for at least 90 days after the event. +About Amgen Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.   +Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.   +Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the "World's Best Employers" by Forbes and one of "America's 100 Most Sustainable Companies" by Barron's. +For more information, visit Amgen.com and follow us on Twitter, LinkedIn, Instagram, TikTok and YouTube.   +CONTACT: Amgen, Thousand Oaks Michael Strapazon, 805-313-5553 (media) Jessica Akopyan, 805-447-0974 (media) Arvind Sood, 805-447-1060 (investors)  + +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/amgen-to-present-at-the-41st-annual-jp-morgan-healthcare-conference-301713800.html +SOURCE Amgen + + diff --git a/news/AMGN/2023.01.05/Pfizer explores options for some rare disease, cancer drugs.txt b/news/AMGN/2023.01.05/Pfizer explores options for some rare disease, cancer drugs.txt new file mode 100644 index 0000000000000000000000000000000000000000..b0fb3631e02baaff76c95ac069ae89df4fcef13c --- /dev/null +++ b/news/AMGN/2023.01.05/Pfizer explores options for some rare disease, cancer drugs.txt @@ -0,0 +1,28 @@ +(Corrects to say value for Global Blood Therapeutics deal is +$5.4 billion, not $4.5 billion, in paragraph 7)Jan 6 (Reuters) - Pfizer Inc is exploring +options for some early-stage treatments for rare diseases and +cancer in a bid to focus on "high-impact" medicines and +vaccines, the company said on Thursday.The U.S. drugmaker said these options included +collaborations with other drug developers for these medicines, +or establishing a new company.Pfizer now plans to focus on internally developing rare +disease treatments using technologies such as gene editing, it +said, while exploring external opportunities for early-stage +gene therapy programs and its cancer-focused research facility +in Boulder, Colorado.It would also seek to externally advance its gene therapy +facility in Durham, North Carolina, the drugmaker said.That would free the company, which has been investing +heavily in its internal pipeline of medicines and striking deals +to boost revenue, to focus its internal portfolio of +experimental treatments to areas where the company thinks it is +"best-positioned"."We believe these actions will position us to lead the +industry in reaching more patients," a company spokesperson said +in an emailed statement, adding that depending on the +externalization approaches taken, Pfizer may maintain ties to +some of these programs through strategic investments.Pfizer in August 2022 announced a $5.4 billion deal for +sickle cell disease drugmaker Global Blood Therapeutics, +months after its $11.6 billion deal for Biohaven Pharmaceutical +Holding.Financial newspaper Barron's first reported on Pfizer's +plans on Thursday. +(Reporting by Manas Mishra, Akriti Sharma, Abinaya +Vijayaraghavan and Shubhendu Deshmukh in Bengaluru; Additional +reporting by Akanksha Khushi; Editing by Sherry Jacob-Phillips +and Nivedita Bhattacharjee) \ No newline at end of file diff --git a/news/AMGN/2023.01.06/Amgen : Statement on FOURIER Analysis Published in BMJ Open.txt b/news/AMGN/2023.01.06/Amgen : Statement on FOURIER Analysis Published in BMJ Open.txt new file mode 100644 index 0000000000000000000000000000000000000000..35481582b35e1c78ae7c69dc269fbd41550e6760 --- /dev/null +++ b/news/AMGN/2023.01.06/Amgen : Statement on FOURIER Analysis Published in BMJ Open.txt @@ -0,0 +1,93 @@ + + + Statement on FOURIER Analysis Published in BMJ Open + + + Amgen disagrees with the analysis of Repatha (evolocumab) published in BMJ Open by Erviti et al. and we stand behind the integrity and validity of the FOURIER trial and results. As mentioned in the BMJ Open manuscript, there are a number of limitations to the Erviti et al. analysis resulting in an incomplete assessment of the FOURIER data and a flawed conclusion. + + + We stand confident in the prospectively defined clinical trial event adjudication process that was applied to FOURIER and believe that the most rigorous classification process for adjudication was used by the TIMI Study Group. This process was based on the uniform Standardized Data Collection for Cardiovascular Trials Initiative established by the Food and Drug Administration, as well as guidance from other regulatory agencies and was consistent with the adjudication process used in other cardiovascular outcomes trials. Adjudication was performed by an independent Clinical Endpoints Committee (CEC), thereby ensuring all CV events were captured, accounted for, and not duplicated. The CEC was blinded to study treatment and had access to all information within each adjudication package that would not have been contained in a clinical study report narrative, enabling them to make a more accurate determination of the cause of death. + + + Treatment guidelines and recommendations across the world recommend PCSK9i mAbs, like Repatha, due to their demonstrated safety profile, efficacy and data from CV outcomes trials as a preferred therapy for patients with established ASCVD that need to intensify their lipid lowering therapy. + + + We stand behind the robust body of evidence supporting the safety and efficacy profile of Repatha, which has been used in 1.7 million patients worldwide since 2015 and has been studied in more than 51,000 patients through clinical studies. Our confidence in Repatha was recently reaffirmed by the publication of the FOURIER-OLE results in Circulation, which included more than 8 years of clinical trial follow-up. + + + + +Repatha Indications in the US: + + +Repatha® is indicated: + + + + In adults with established cardiovascular disease to reduce the risk of myocardial infarction, stroke, and coronary revascularization + + + As an adjunct to diet, alone or in combination with other low-density lipoprotein cholesterol (LDL-C)-lowering therapies, in adults with primary hyperlipidemia, including heterozygous familial hypercholesterolemia (HeFH), to reduce LDL-C + + + As an adjunct to diet and other LDL-C-lowering therapies in pediatric patients aged 10 years and older with HeFH, to reduce LDL-C + + + As an adjunct to other LDL-C-lowering therapies in adults and pediatric patients aged 10 years and older with homozygous familial hypercholesterolemia (HoFH), to reduce LDL-C + + + + The safety and effectiveness of Repatha® have not been established in pediatric patients with HeFH or HoFH who are younger than 10 years old or in pediatric patients with other types of hyperlipidemia. + + + +Repatha US Important Safety Information + + +Contraindication: Repatha® is contraindicated in patients with a history of a serious hypersensitivity reaction to evolocumab or any of the excipients in Repatha®. Serious hypersensitivity reactions including angioedema have occurred in patients treated with Repatha®. + + +Hypersensitivity Reactions: Hypersensitivity reactions, including angioedema, have been reported in patients treated with Repatha®. If signs or symptoms of serious hypersensitivity reactions occur, discontinue treatment with Repatha®, treat according to the standard of care, and monitor until signs and symptoms resolve. + + +Adverse Reactions in Adults with Primary Hyperlipidemia: The most common adverse reactions (>5% of patients treated with Repatha® and more frequently than placebo) were: nasopharyngitis, upper respiratory tract infection, influenza, back pain, and injection site reactions. + + + From a pool of the 52-week trial and seven 12-week trials: Local injection site reactions occurred in 3.2% and 3.0% of Repatha®-treated and placebo-treated patients, respectively. The most common injection site reactions were erythema, pain, and bruising. Hypersensitivity reactions occurred in 5.1% and 4.7% of Repatha®-treated and placebo-treated patients, respectively. The most common hypersensitivity reactions were rash (1.0% versus 0.5% for Repatha® and placebo, respectively), eczema (0.4% versus 0.2%), erythema (0.4% versus 0.2%), and urticaria (0.4% versus 0.1%). + + +Adverse Reactions in the Cardiovascular Outcomes Trial: The most common adverse reactions (>5% of patients treated with Repatha® and more frequently than placebo) were: diabetes mellitus (8.8% Repatha®, 8.2% placebo), nasopharyngitis (7.8% Repatha®, 7.4% placebo), and upper respiratory tract infection (5.1% Repatha®, 4.8% placebo). + + + Among the 16,676 patients without diabetes mellitus at baseline, the incidence of new-onset diabetes mellitus during the trial was 8.1% in patients treated with Repatha® compared with 7.7% in patients that received placebo. + + +Adverse Reactions in Pediatric Patients with HeFH: The most common adverse reactions (>5% of patients treated with Repatha® and more frequently than placebo) were: nasopharyngitis, headache, oropharyngeal pain, influenza, and upper respiratory tract infection. + + +Adverse Reactions in Adults and Pediatric Patients with HoFH: In a 12-week study in 49 patients, the adverse reactions that occurred in at least two patients treated with Repatha® and more frequently than placebo were: upper respiratory tract infection, influenza, gastroenteritis, and nasopharyngitis. In an open-label extension study in 106 patients, including 14 pediatric patients, no new adverse reactions were observed. + + +Immunogenicity: Repatha® is a human monoclonal antibody. As with all therapeutic proteins, there is potential for immunogenicity with Repatha®. + + +Please see full Prescribing Information. + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amgen Inc. published this content on 06 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 January 2023 23:49:24 UTC. + + diff --git a/news/AMGN/2023.01.06/Amgen and biolabs la at the lundquist institute announce nammi therapeutics to receive ...txt b/news/AMGN/2023.01.06/Amgen and biolabs la at the lundquist institute announce nammi therapeutics to receive ...txt new file mode 100644 index 0000000000000000000000000000000000000000..2d31f999c8762047f542b03ba0f345a78cab6e31 --- /dev/null +++ b/news/AMGN/2023.01.06/Amgen and biolabs la at the lundquist institute announce nammi therapeutics to receive ...txt @@ -0,0 +1,25 @@ + + +Biotherapeutics Company to Receive lab Space, Mentoring and Other Benefits +THOUSAND OAKS, Calif., Jan. 6, 2023 /PRNewswire/ -- Amgen (NASDAQ:AMGN) and BioLabs LA at The Lundquist Institute today announced that Nammi Therapeutics has been awarded the third Amgen Golden Ticket in Southern California. Nammi Therapeutics will receive one year of lab space at BioLabs LA at The Lundquist Institute (TLI) as well as additional facility benefits and connections to Amgen's scientific and business leaders. +The Amgen Golden Ticket winner was chosen by a team of Amgen scientific leaders at a virtual pitch event. Five finalists pitched their business plans before Amgen's internal committee that evaluated the strength and novelty of their scientific rationale, subject matter expertise and business plan viability. This is the third Amgen Golden Ticket awarded to help accelerate life science startups in Southern California. +Perspectives on announcement: +"As we announce our third Southern California Golden Ticket winner, it's exciting to see how Amgen's partnership with BioLabs LA at The Lundquist Institute has already made an impact on scientific research in the greater Los Angeles area, helping to accelerate the growth and development of several life-science startups. We look forward to extending this opportunity to Nammi Therapeutics and their exciting work in immuno-oncology." – Alan Russell, Ph.D., vice president of Biologic Therapeutic Discovery at Amgen"It has been an honor to work with BioLabs, the Lundquist Institute, and Amgen on the third consecutive Golden Ticket event. After witnessing the success of the first two award recipients (Karma Biotechnologies and Diadem Therapeutics), we cannot wait to see what progress this collaboration with Nammi Therapeutics drives next." – Lindsay Bourgeois, site director, BioLabs LA"Nammi is honored to have been chosen as the winner of the Amgen-BioLabs Golden Ticket Award. The material support for our organization is very helpful and having the promise of the Nammi immuno-oncology platform technologies to improve the lives of cancer patients recognized by a leader in the field such as Amgen is even more rewarding. We look forward to working with Amgen and BioLabs as we advance our lead programs and grow our organization." – David R. Stover, Ph.D., president and CEO, Nammi TherapeuticsAmgen supports life science startups through Golden Ticket awards and affiliated engagement in other biotech innovation hubs, including San Francisco, Boston, Singapore and Toronto. Nammi Therapeutics is the 30th Golden Ticket winner since program inception in 2014. +About Amgen Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.  +Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.  +Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the "World's Best Employers" by Forbes and one of "America's 100 Most Sustainable Companies" by Barron's. +For more information, visit Amgen.com and follow us on Twitter, LinkedIn, Instagram, TikTok and YouTube.  +About The Lundquist Institute: Research with reach™ The Lundquist Institute is an engine of innovation with a global reach and a 69-year reputation of improving and saving lives. With its new medical research building, its state-of-the-art incubator, "BioLabs at The Lundquist," existing laboratory and support infrastructure, and the development of a new 15-acre business tech park, the Lundquist Institute serves as a hub for the Los Angeles area's burgeoning biotech scene. The research institute has over 100 principal investigators (PhDs, MDs, and MD/PhDs) working on more than 600 research studies, including therapies for numerous, and often fatal orphan diseases. Find out more at https://lundquist.org. +About BioLabs LA at The Lundquist InstituteEncompassing the entire third floor of The Lundquist Institute's new Medical Research Lab building, BioLabs LA offers shared lab facilities designed for high-potential, early-stage life since companies. BioLabs creates co-working communities that pair premium, fully equipped and supported lab and office space with unparalleled access for entrepreneurs to networking, industry partners, and capital. Find out more at https://www.biolabs.io/la. +About Nammi Therapeutics, Inc.Nammi Therapeutics, Inc. is an immuno-oncology company based in Los Angeles that is developing platforms and products that selectively activate anti-tumor immunity within the tumor microenvironment while minimizing systemic activation.  By reducing systemic activation of the immune system, Nammi expects to improve safety and enhance the ability to combine multiple immune modulators. Nammi's lead product candidate, QXL138AM, is a Masked Immunocytokine (MIC) targeting a masked interferon to the tumor antigen, CD138. In addition to the MIC platform, Nammi has also developed a nanoparticle platform to deliver Immune Modulating Prodrugs (IMPs) using their Nammisome technology. Multiple Nammisome clinical candidates have also been selected for development. Find out more at www.NammiRX.com. +CONTACT: Amgen, Thousand Oaks Michael Strapazon, 805-313-5553 (media)  +The Lundquist Institute for Biomedical Innovation at Harbor-UCLA Medical CenterKeith B. Hoffman, Ph.D., 310-974-9301, keith.hoffman@lundquist.org +BioLabs LALindsay Bourgeois, 978-852-1081, lbourgeois@biolabs.io + +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/amgen-and-biolabs-la-at-the-lundquist-institute-announce-nammi-therapeutics-to-receive-the-third-amgen-golden-ticket-301715686.html +SOURCE Amgen + + diff --git a/news/AMGN/2023.01.09/Amgen and biolabs la at the lundquist institute announce nammi therapeutics to receive ...txt b/news/AMGN/2023.01.09/Amgen and biolabs la at the lundquist institute announce nammi therapeutics to receive ...txt new file mode 100644 index 0000000000000000000000000000000000000000..3b2b1340210c34f20bc1039e7a951a7bcb73f9e7 --- /dev/null +++ b/news/AMGN/2023.01.09/Amgen and biolabs la at the lundquist institute announce nammi therapeutics to receive ...txt @@ -0,0 +1 @@ +Amgen (NASDAQ: AMGN) and BioLabs LA at The Lundquist Institute today announced that Nammi Therapeutics has been awarded the third Amgen Golden Ticket in Southern California.Nammi Therapeutics will receive one year of lab space at BioLabs LA at The Lundquist Institute (TLI) as well as additional facility benefits and connections to Amgen's scientific and business leaders.The Amgen Golden Ticket winner was chosen by a team of Amgen scientific leaders at a virtual pitch event. Five finalists pitched their business plans before Amgen's internal committee that evaluated the strength and novelty of their scientific rationale, subject matter expertise and business plan viability. This is the third Amgen Golden Ticket awarded to help accelerate life science startups in Southern California.Perspectives on announcement:As we announce our third Southern California Golden Ticket winner, it's exciting to see how Amgen's partnership with BioLabs LA at The Lundquist Institute has already made an impact on scientific research in the greater Los Angeles area, helping to accelerate the growth and development of several life-science startups. We look forward to extending this opportunity to Nammi Therapeutics and their exciting work in immuno-oncology.' - Alan Russell, Ph.D., vice president of Biologic Therapeutic Discovery at AmgenIt has been an honor to work with BioLabs, the Lundquist Institute, and Amgen on the third consecutive Golden Ticket event. After witnessing the success of the first two award recipients (Karma Biotechnologies and Diadem Therapeutics), we cannot wait to see what progress this collaboration with Nammi Therapeutics drives next.' - Lindsay Bourgeois, site director, BioLabs LANammi is honored to have been chosen as the winner of the Amgen-BioLabs Golden Ticket Award. The material support for our organization is very helpful and having the promise of the Nammi immuno-oncology platform technologies to improve the lives of cancer patients recognized by a leader in the field such as Amgen is even more rewarding. We look forward to working with Amgen and BioLabs as we advance our lead programs and grow our organization.' - David R. Stover, Ph.D., president and CEO, Nammi TherapeuticsAmgen supports life science startups through Golden Ticket awards and affiliated engagement in other biotech innovation hubs, including San Francisco, Boston, Singapore and Toronto. Nammi Therapeutics is the 30th Golden Ticket winner since program inception in 2014.About AmgenAmgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the 'World's Best Employers' by Forbes and one of 'America's 100 Most Sustainable Companies' by Barron's.About The Lundquist Institute: Research with reachThe Lundquist Institute is an engine of innovation with a global reach and a 69-year reputation of improving and saving lives. With its new medical research building, its state-of-the-art incubator, 'BioLabs at The Lundquist,' existing laboratory and support infrastructure, and the development of a new 15-acre business tech park, the Lundquist Institute serves as a hub for the Los Angeles area's burgeoning biotech scene. The research institute has over 100 principal investigators (PhDs, MDs, and MD/PhDs) working on more than 600 research studies, including therapies for numerous, and often fatal orphan diseases. Find out more at https://lundquist.org.About BioLabs LA at The Lundquist InstituteEncompassing the entire third floor of The Lundquist Institute's new Medical Research Lab building, BioLabs LA offers shared lab facilities designed for high-potential, early-stage life since companies. BioLabs creates co-working communities that pair premium, fully equipped and supported lab and office space with unparalleled access for entrepreneurs to networking, industry partners, and capital. Find out more at https://www.biolabs.io/la.About Nammi Therapeutics, Inc.Nammi Therapeutics, Inc. is an immuno-oncology company based in Los Angeles that is developing platforms and products that selectively activate anti-tumor immunity within the tumor microenvironment while minimizing systemic activation. By reducing systemic activation of the immune system, Nammi expects to improve safety and enhance the ability to combine multiple immune modulators. Nammi's lead product candidate, QXL138AM, is a Masked Immunocytokine (MIC) targeting a masked interferon to the tumor antigen, CD138. In addition to the MIC platform, Nammi has also developed a nanoparticle platform to deliver Immune Modulating Prodrugs (IMPs) using their Nammisome technology. Multiple Nammisome clinical candidates have also been selected for development. Find out more at www.NammiRX.com.Contact:Tel: 805-313-5553(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git "a/news/AMGN/2023.01.10/Amgen : At Amgen, It's \"Innovate or Die\" Says Amgen CEO Bob Bradway in Interview with Morg...txt" "b/news/AMGN/2023.01.10/Amgen : At Amgen, It's \"Innovate or Die\" Says Amgen CEO Bob Bradway in Interview with Morg...txt" new file mode 100644 index 0000000000000000000000000000000000000000..d7ae5752fa260891383ead35038e4ca7bb83719b --- /dev/null +++ "b/news/AMGN/2023.01.10/Amgen : At Amgen, It's \"Innovate or Die\" Says Amgen CEO Bob Bradway in Interview with Morg...txt" @@ -0,0 +1,48 @@ + + + +As part of the financial services firm's "Exceptional Leaders/Exceptional Ideas" video series, Amgen's CEO discusses how innovation is key to the company's ability to serve patients, deliver strong financial results and attract the best talent. + + + On September 28, 2022, Amgen CEO Bob Bradway sat down with Matthew Harrison, managing director and head of biotech industry research at Morgan Stanley, to discuss Amgen's strategy of providing innovative medicines that make a big difference for patients suffering from serious diseases. The conversation coincided with "Mission Week" at Amgen and was published recently as part of Morgan Stanley's series of "Exceptional Leaders/Exceptional Ideas" interviews with leading CEOs across a range of industries. + + + "We like to say at Amgen, 'innovate or die'," Bradway told Harrison. "We believe we can earn a return [on our R&D investments] when we're able to generate innovative new molecules that have a very big effect size for the patients who use them, and where the unmet medical needs are high. If we are able to develop medicines that keep people out of the hospital and that improve a condition not just marginally but profoundly, then society should see that as a good investment." Bradway noted that one area where Amgen is focused on delivering innovation is cardiovascular disease, given that it is responsible for one of every three deaths globally. + + + Asked whether biosimilar medicines represent a threat to Amgen, Bradway noted that patent expirations are a fact of life in the biotechnology industry and spur the quest for new innovations. Amgen has also built its own industry-leading biosimilars business, taking advantage of its world-class manufacturing capabilities to ensure quality, safety and reliability. + + + "Manufacturing biologic medicines is a highly complex, science-rich process," he explained, adding that Amgen has always seen it as an area of potential competitive differentiation. "Our industry is littered with companies that lost control of their destinies because they couldn't reliably manufacture complex molecules." + + + Looking toward the future, Bradway said, "We're incredibly excited about what's happening at the intersection of biology and computing technologies, and in particular machine learning." He noted that Amgen had long anticipated the solution to a four-decade challenge: how to predict a protein's three-dimensional structure from its one-dimensional sequence of amino acids. Google subsidiary DeepMind solved this challenge in July 2021 and published the algorithms it used to do so. "We are already seeing benefits in the speed at which we are able to design new molecules," Bradway observed. + + + Bradway emphasized that Amgen's ultimate success hinges not on technology, but on attracting and retaining the very best talent. "There's nothing more important than people," he declared, noting the importance of "creating an environment for them to pursue the science and push the boundaries of biotechnology." + + + "People who want to change the practice of medicine are attracted to an environment like this where we have the resources and the caliber of people across all the different parts of our business to be able to successfully do that," he emphasized. "The common thread is people who don't accept 'no' for an answer, and that attracts other people who want to be part of that innovative environment." + + + Click here to view Bob Bradway's interview with Morgan Stanley's Matthew Harrison. + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amgen Inc. published this content on 10 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2023 22:38:15 UTC. + + diff --git a/news/AMGN/2023.01.10/Year In Review : Top Legal Developments Of 2022.txt b/news/AMGN/2023.01.10/Year In Review : Top Legal Developments Of 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..c8db165eb0979ae1baefe45385d2f80fe9af7df2 --- /dev/null +++ b/news/AMGN/2023.01.10/Year In Review : Top Legal Developments Of 2022.txt @@ -0,0 +1,11 @@ +As we ring in the new year, we look back at the top legal developments of 2022 that could influence the market for biologics and biosimilars. There were many interesting decisions and other developments in district court, at the Federal Circuit, and at the PTAB. Below is our recap of the top five legal decisions and developments in the biosimilars space in 2023.In November, the U.S. Supreme Court granted Amgen's petition for writ of certiorari and agreed to review "whether enablement is governed by the statutory requirement that the specification teach those skilled in the art to 'make and use' the claimed invention, 35 U.S.C. § 112, or whether it must instead enable those skilled in the art 'to reach the full scope of claimed embodiments' without undue experimentation." The case will be argued in early 2023 and will likely be decided by June 2023.In June, Regeneron Pharmaceuticals, Inc. filed an antitrust complaint against Amgen Inc. in the U.S. District Court for the District of Delaware. In its complaint, Regeneron alleges that Amgen is engaged in an "unlawful, anticompetitive bundling scheme" that allegedly forces third-party payors to "jettison Regeneron's Praluent® in favor of Amgen's Repatha®." Specifically, Regeneron alleges that Amgen is conditioning rebates on its Otezla® and Enbrel® drugs "on exclusivity or practical exclusivity" for Repatha® on drug formularies. Regeneron claims that "Amgen's bundled rebate scheme further excludes competition" by pricing Repatha® below its costs such that Regeneron "cannot make a financially viable case for Praluent®." And, according to Regeneron, Amgen's "scheme" is working: "As a result of Amgen's anticompetitive practices, in 2022, Regeneron stands to lose money for the first time on the formerly profitable Praluent®." Regeneron is seeking an injunction, actual damages, treble damages, costs, and attorneys fees, and a jury trial. No trial date has been scheduled.In April, The U.S. Court of Appeals for the Federal Circuit reversed the PTAB's determination in IPR2016-01542 that certain claims of Amgen's U.S. Patent No. 8,952,138 are obvious. Amgen appealed the Board's construction of "final thiol-pair ratio" and its obviousness determination based on the construction. The Federal Circuit agreed with Amgen, and found the PTAB's construction "inconsistent with the plain language of claim 1 and the specification." Under the correct construction, the Federal Circuit found that claims 1-24 of the '138 patent were not obvious over the prior art and reversed the PTAB's decision.In August, the Seventh Circuit issued a long-awaited opinion in the HUMIRA antitrust litigation, UFCW Local 1500 Welfare Fund v. AbbVie Inc., Case No. 20-2402. This case was an appeal from the Northern District of Illinois's dismissal of a proposed class action alleging that AbbVie, Inc. created a "patent thicket" around HUMIRA to block biosimilars from entering the market and entered into "reverse payment" settlement agreements with biosimilar applicants to further delay entry. The Seventh Circuit affirmed the dismissal, agreeing that nothing alleged in the complaint stated an antitrust violation.In November, the PTAB issued final written decisions in IPR2021-00880 and IPR2021-00881, where Mylan was challenging two Regeneron patents related to aflibercept-U.S. Patent Nos. 9,254,338 and 9,669,069. The PTAB ruled in Mylan's favor in both IPRs, holding all challenged claims of both patents invalid as anticipated by the same prior art reference. Mylan also filed three additional IPR petitions challenging claims of Regeneron patents directed to treating angiogenic eye disorders-IPR2022-01225, IPR2022-01226, and IPR2023-00099. Institution decisions on IPR2022-01225 and IPR2022-01226 are expected in January 2023 and the institution decision on IPR2023-00099 is expected in April 2023.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Ms Gabriella Montes +Goodwin Procter LLP +100 Northern Avenue +Boston +MA 02210 +UNITED STATES +Tel: 212813 8800 +E-mail: rmertz@goodwinlaw.com +URL: www.goodwinlaw.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AMGN/2023.01.13/Drug companies favor biotech meds over pills, citing new U.S. law.txt b/news/AMGN/2023.01.13/Drug companies favor biotech meds over pills, citing new U.S. law.txt new file mode 100644 index 0000000000000000000000000000000000000000..e12fe14c4d3833ab66c21528611f8067f45da051 --- /dev/null +++ b/news/AMGN/2023.01.13/Drug companies favor biotech meds over pills, citing new U.S. law.txt @@ -0,0 +1 @@ +The Inflation Reduction Act (IRA), which Democrats passed last August, for the first time allows the government's Medicare health plan for people age 65 and over to negotiate the prices it is willing to pay for certain medications.The pharmaceutical industry, whose members gathered in the thousands this week in San Francisco for the annual JP Morgan Healthcare conference, opposed the legislation and has begun implementing strategies to mitigate its impact.Such a shift in focus could result in the availability of far fewer cheap, generic pills in the long run.All other developed nations negotiate drug prices, making the United States the most lucrative market for the industry. The Congressional Budget Office estimates that the IRA's drug pricing provisions will reduce the federal deficit by $237 billion over the next decade.Medicare will select the first 10 drugs for the program this year. The number of medications subject to price negotiation will increase over time, but newer drugs are not included.The law sets a nine-year exemption period for "small-molecule" drugs, which are mainly pills, while "large molecule" biologics, generally injections or infusions, are protected from negotiation for 13 years."The difference between a nine- and 13-year product line is about 50 or 60% of the value," Eli Lilly Chief Executive Officer Dave Ricks said in an interview. "In 10 years, we'll have far fewer small molecules being developed than we do today."He questioned the benefit of "rules that really just disincentivize investment in what ends up being convenient drugs, drugs for tough conditions like cancer and drugs that get really cheap when they go generic."Lilly has already dropped a small-molecule blood cancer drug from its pipeline because "we just couldn't make the math work," Ricks said.The Indianapolis-based company is considering culling more early-stage pill programs and is directing its small molecule development group to only pursue opportunities "that would be clearly good enough within nine years to be winners."U.S. Congresswoman Katie Porter, a Democrat who has pressed for drug price limits, described the companies' strategy for dealing with the law as "treating potential new drugs as bargaining chips instead of as cures to save lives."Most medicines on the market today are small molecules, which can be taken by mouth, absorbed into the bloodstream and easily penetrate cell membranes. Common examples include aspirin, statins for high cholesterol and blood pressure drugs.In recent decades, pharmaceutical development has moved into more complex, difficult to manufacture large molecules, derived from living cells that can target a specific location or mechanism in the body. These biologics, like AbbVie's rheumatoid arthritis drug Humira, need to be injected or infused and can require special handling or monitoring of patients.But the industry has also come up with innovative pills, which patients often prefer. Lilly and other drugmakers, for instance, are developing oral drugs for a diabetes and obesity- related target that is currently reached only by injected drugs.'UNINTENDED CONSEQUENCES'When pills lose patent protection, generic copies usually enter the market at price discounts of up to 90%, while the competing "biosimilar" versions of large molecule drugs is much less robust and the discounts much lower. Steven Pearson, president of the influential drug pricing research group Institute for Clinical and Economic Review, said the IRA overall should help lower prices for Medicare patients but acknowledged new laws like it can have "unintended consequences." He noted it is not unusual for pharmaceutical companies to choose not to pursue a drug they once thought promising."We have only made it more complicated now," he said. Stephen Ubl, president of Pharmaceutical Research and Manufacturers of America (PhRMA), said the industry trade group believes the IRA should not set different exemption periods based on drug type. "We would like that provision to be fixed," he said.Executives at U.S. biotech Amgen Inc said the IRA will have broad industry impact, but that Amgen is well-positioned for growth due to its strong position in biologics."Large molecules are relatively favored under the IRA as opposed to small molecules," David Reese, head of Amgen research and development, said in an interview. "Given our history and our focus in protein therapeutics, that's one advantage." PhRMA said that when asked in a recent survey if they expect to shift research and development investment away from small molecule medicines, 63% of member companies who responded to the question said yes. (Reporting By Deena Beasley in Los Angeles; Editing by Caroline Humer and Bill Berkrot)By Deena Beasley \ No newline at end of file diff --git a/news/AMGN/2023.01.16/Exploring The Amgen Genus Claims Headed To High Court.txt b/news/AMGN/2023.01.16/Exploring The Amgen Genus Claims Headed To High Court.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d06b68e858c392323897a8b6b3910534233e640 --- /dev/null +++ b/news/AMGN/2023.01.16/Exploring The Amgen Genus Claims Headed To High Court.txt @@ -0,0 +1,12 @@ +Head of Life Sciences Irena Royzman and associate Jeffrey Coleman authored a Law360 article titled “Exploring The Amgen Genus Claims Headed To High Court” on Jan. 10, 2023. The article reviews whether generic claims in the chemical and biological arts are alive and well as the U.S. Court of Appeals for the Federal Circuit has explained in its 2021 Amgen Inc. v. Sanofi decision, as well as the hurdles faced by claiming biological materials by desired function rather than a structure shared by the biological materials.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Ms Irena Royzman +Kramer Levin Naftalis & Frankel LLP +1177 Avenue Of The Americas +New York +NY 10036 +UNITED STATES +Tel: 2127159100 +Fax: 2127158000 +E-mail: Pmanuele@kramerlevin.com +URL: www.kramerlevin.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AMGN/2023.01.24/Rule 17 Announcement - Horizon Therapeutics plc.txt b/news/AMGN/2023.01.24/Rule 17 Announcement - Horizon Therapeutics plc.txt new file mode 100644 index 0000000000000000000000000000000000000000..b869c9192428c2c229de89785c3830f33b9ce55a --- /dev/null +++ b/news/AMGN/2023.01.24/Rule 17 Announcement - Horizon Therapeutics plc.txt @@ -0,0 +1 @@ +On December 12, 2022, the board of directors of Horizon Therapeutics plc, a public limited company incorporated in Ireland (the 'Company' or 'Horizon') and the board of directors of Amgen Inc., a Delaware corporation ('Amgen'), announced that they had reached agreement on the terms of a cash offer for the Company by Pillartree Limited, a newly formed private limited company wholly owned by Amgen ('Acquirer Sub'), pursuant to which Acquirer Sub will acquire the entire issued and to be issued ordinary share capital of the Company (the 'Proposed Transaction').As outlined in that announcement, the Proposed Transaction is to be implemented by way of a scheme of arrangement under Chapter 1 of Part 9 of the Irish Companies Act of 2014 (the 'Scheme').The Company announces that earlier today it mailed a proxy statement to Horizon shareholders, which also constitutes a scheme circular, relating to the Proposed Transaction (as may be amended and supplemented, the 'Definitive Proxy Statement'). The Definitive Proxy Statement sets out, amongst other things, the full terms and conditions of the Proposed Transaction, information required under Section 452 of the Irish Companies Act 2014 and details of the actions to be taken by Horizon shareholders in relation to the Scheme.Furthermore, notices convening the scheme meeting of Horizon shareholders to consider and vote on the Scheme (the 'Scheme Meeting') and the related extraordinary general meeting (the 'EGM') are contained in the Definitive Proxy Statement. The Scheme Meeting will be held on February 24, 2023 commencing at 10:30 a.m. (Irish time) and the EGM will be held on February 24, 2023 commencing at 10:45 a.m. (Irish time), or, if the Scheme Meeting has not concluded by 10:45 a.m. (Irish time), as soon as possible after the conclusion or adjournment of the Scheme Meeting. Both the Scheme Meeting and the EGM will be held at Horizon's registered office at 70 St. Stephen's Green, Dublin 2, D02 E2X4, Ireland.Certain capitalised words used in this announcement and not herein defined have the meanings given to such words in the announcement issued by Horizon and Amgen on December 12, 2022 pursuant to Rule 2.7 of the Irish Takeover Rules.Contact:Tel: +1 224 383 3344Statement Required by the Irish Takeover RulesThe directors of Horizon accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the directors of Horizon (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.No Offer or SolicitationThis announcement is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the Proposed Transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable Law.The Proposed Transaction will be implemented by way of an Irish High Court-sanctioned scheme of arrangement on the terms provided for in the Scheme Document (or, if the Proposed Transaction is implemented by way of a Takeover Offer, the Takeover Offer Document), which contains the full terms and conditions of the Proposed Transaction, including details of how Horizon shareholders may vote in respect of the Proposed Transaction. Any decision in respect of, or other response to, the Proposed Transaction, should be made only on the basis of the information contained in the Definitive Proxy Statement (which includes the Scheme Document) (or, if the Proposed Transaction is implemented by way of a Takeover Offer, the Takeover Offer Document) and other relevant documents filed or to be filed with the SEC in connection with the Proposed Transaction, including any documents incorporated therein.Important Additional Information and Where to Find ItIn connection with the Proposed Transaction, Horizon filed with the SEC the Definitive Proxy Statement today, January 23, 2023, which includes the Scheme Document.Any vote in respect of the resolutions to be proposed at the Horizon shareholder meetings to approve the Proposed Transaction, the Scheme or related matters, or other responses in relation to the Proposed Transaction, should be made only on the basis of the information contained in the Definitive Proxy Statement (including the Scheme Document) and other relevant documents filed or to be filed with the SEC in connection with the Proposed Transaction, including any documents incorporated therein.The Definitive Proxy Statement, as well as Horizon's other public filings with the SEC, may be obtained without charge at the SEC's website at www.sec.gov and at Horizon's website at https://ir.horizontherapeutics.com/financial-information/sec-filings. Horizon shareholders and investors may also obtain, without charge, a copy of the Definitive Proxy Statement (including the Scheme Document) and other relevant documents (when available) by directing a written request to Horizon Therapeutics plc, Attn: Investor Relations, 70 St. Stephen's Green, Dublin 2, D02 E2X4, Ireland, or by contacting Tina Ventura, Investor Relations, via email at ir@horizontherapeutics.com.Participants in the SolicitationHorizon and certain of its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies from Horizon shareholders in connection with the Proposed Transaction and any other matters to be voted on at the Horizon shareholder meetings. Information regarding the persons who may, under the rules of the SEC, be deemed to be participants in the solicitation of Horizon shareholders, including a description of their direct or indirect interests, by security holdings or otherwise, is, or will be, set forth in the Definitive Proxy Statement (which contains the Scheme Document) and other relevant materials to be filed with the SEC in connection with the Proposed Transaction. Additional information about the directors and executive officers of Horizon, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in the Definitive Proxy Statement on Schedule 14A for its 2022 annual general meeting of shareholders, dated and filed with the SEC on March 17, 2022. You may obtain free copies of these documents using the sources indicated above.Cautionary Statement Regarding Forward-looking StatementsThis announcement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by words such as 'anticipate,' 'believe,' 'intend,' 'estimate,' 'expect,' 'see,' 'continue,' 'could,' 'can,' 'may,' 'will,' 'likely,' 'depend,' 'should,' 'would,' 'plan,' 'predict,' 'target,' and similar expressions, and may include references to assumptions and relate to Horizon's future prospects, developments and business strategies, and the Proposed Transaction. Such forward-looking statements include, but are not limited to, statements relating to the Proposed Transaction involving Amgen and Horizon, Horizon's current expectations and estimates about the expected effects and anticipated benefits of the Proposed Transaction, including Amgen's ability to further diversify its commercial portfolio and expand its pipeline to reinforce continued long-term growth, Amgen's broadened global scale to further maximize the growth potential of Horizon's marketed medicines, the combined companies' long-term R&D discovery and development efforts, and Amgen's R&D capabilities to rapidly advance the pipeline to find more therapies for patients who are underserved, the date of closing of the Proposed Transaction, including the parties' ability to satisfy the conditions to the consummation of the Proposed Transaction and the other conditions set forth in the Transaction Agreement, and Horizon's business activities and strategies. Horizon's expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks, and changes in circumstances, including but not limited to risks and uncertainties related to: the ability of the parties to consummate the Proposed Transaction in a timely manner or at all; the satisfaction (or waiver) of conditions to the consummation of the Proposed Transaction, including with respect to the approval of Horizon shareholders and required regulatory approvals; potential delays in consummating the Proposed Transaction; the ability of Horizon to timely and successfully achieve the anticipated benefits of the Proposed Transaction; the impact of health pandemics, including the COVID-19 pandemic, on the parties' respective businesses and the actions the parties may take in response thereto, the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the Transaction Agreement; the effect of the announcement or pendency of the Proposed Transaction on Horizon's business relationships, operating results and business generally; costs related to the Proposed Transaction and the outcome of any legal proceedings that may be instituted against the parties or any of their respective directors or officers related to the Transaction Agreement or the Proposed Transaction. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption 'Risk Factors' and elsewhere in Horizon's most recent filings with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 and any subsequent reports on Form 10-K, Form 10-Q or Form 8-K filed with the SEC from time to time and available at www.sec.gov. These documents can be accessed on Horizon's website at https://ir.horizontherapeutics.com/financial-information/sec-filings. The forward-looking statements set out in this announcement are made only as of the date hereof. Horizon assumes no obligation and does not intend to update these forward-looking statements, except as required by law.Contact:Tel: +1 224 383 3333(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMGN/2023.01.26/Amgen announces webcast of 2022 fourth quarter and full year financial results.txt b/news/AMGN/2023.01.26/Amgen announces webcast of 2022 fourth quarter and full year financial results.txt new file mode 100644 index 0000000000000000000000000000000000000000..a8f820fdf5d884c1c33de9babf53d952973fba8c --- /dev/null +++ b/news/AMGN/2023.01.26/Amgen announces webcast of 2022 fourth quarter and full year financial results.txt @@ -0,0 +1,18 @@ + + +THOUSAND OAKS, Calif., Jan. 26, 2023 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced that it will report its fourth quarter and full year 2022 financial results on Tuesday, Jan. 31, 2023, after the close of the U.S. financial markets. The announcement will be followed by a conference call with the investment community at 4:30 p.m. ET. Participating in the call from Amgen will be Robert A. Bradway, chairman and chief executive officer, and other members of Amgen's senior management team. +Live audio of the conference call will be simultaneously broadcast over the internet and will be available to members of the news media, investors and the general public. +The webcast, as with other selected presentations regarding developments in Amgen's business given by management at certain investor and medical conferences, can be found on Amgen's website, www.amgen.com, under Investors. Information regarding presentation times, webcast availability and webcast links are noted on Amgen's Investor Relations Events Calendar. The webcast will be archived and available for replay for at least 90 days after the event. +About Amgen Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.  +Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.  +Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the "World's Best Employers" by Forbes and one of "America's 100 Most Sustainable Companies" by Barron's. +For more information, visit Amgen.com and follow us on Twitter, LinkedIn, Instagram, TikTok and YouTube.  +CONTACT: Amgen, Thousand Oaks Jessica Akopyan, 805-447-0974 (media) Megan Fox, 805-447-1423 (media)Arvind Sood, 805-447-1060 (investors)  + +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/amgen-announces-webcast-of-2022-fourth-quarter-and-full-year-financial-results-301731833.html +SOURCE Amgen + + diff --git "a/news/AMGN/2023.01.26/Warren tells FTC she is \"particularly concerned\" about Amgen and Indivior deals.txt" "b/news/AMGN/2023.01.26/Warren tells FTC she is \"particularly concerned\" about Amgen and Indivior deals.txt" new file mode 100644 index 0000000000000000000000000000000000000000..8d6a8a02231b248a16e8e391bc45e410402f2f13 --- /dev/null +++ "b/news/AMGN/2023.01.26/Warren tells FTC she is \"particularly concerned\" about Amgen and Indivior deals.txt" @@ -0,0 +1 @@ +In a letter dated Wednesday, Warren said that she was focused on Amgen's plan to buy Horizon Therapeutics, and addiction specialist Indivior's plan to buy Opiant for $145 million, which was announced in mid-November. "Given these companies' records of anti-competitive business practices, these acquisitions could cause further price increases on lifesaving drugs and prevent affordable alternatives from entering the market," she wrote in the letter to FTC Chair Lina Khan as well as Commissioners Rebecca Slaughter and Alvaro Bedoya, all of whom are Democrats.The agency shares the job of assessing mergers to ensure they comply with antitrust law with the Justice Department. It can sue to block planned acquisitions that it believes are illegal.Warren said that both Amgen and Horizon Therapeutics "have engaged in brazen price increases," including on Amgen's Enbrel for arthritis and Horizon's Krystexxa, a gout medication.She noted that the FTC had settled with Indivior and its former parent over its attempt to protect its monopoly of the opioid addiction treatment Suboxone. Indivior makes Sublocade -- a slow-release treatment for opioid addiction that is administered monthly. Suboxone is given daily and also prevents an accidental overdose.Opiant, original owner of opioid overdose remedy Narcan, is working on getting approval for a nasal spray version of nalmefene, believed to be a more effective opioid antagonist."The FTC should strongly consider Indivior's history of anti-competitive and deceptive practices when evaluating how Indivior might behave after this potential transaction is completed," wrote Warren.Warren noted that the FTC, which has long focused on healthcare mergers, said in 2021 that it would prioritize pharmaceutical acquisitions. She also asked the agency how it factored into its merger reviews efforts by the companies to extend patent protections, using strategies that are sometimes controversial. (Reporting by Diane Bartz; Editing by Chizu Nomiyama) \ No newline at end of file diff --git a/news/AMGN/2023.01.30/Amgen lays off 300 employees.txt b/news/AMGN/2023.01.30/Amgen lays off 300 employees.txt new file mode 100644 index 0000000000000000000000000000000000000000..31417b0460bd07846fde21494f25ed8758c332c4 --- /dev/null +++ b/news/AMGN/2023.01.30/Amgen lays off 300 employees.txt @@ -0,0 +1 @@ + (Reporting by Bhanvi Satija in Bengaluru; Editing by Savio D'Souza) \ No newline at end of file diff --git a/news/AMGN/2023.01.30/Rule 15 Announcement, Horizon Therapeutics plc.txt b/news/AMGN/2023.01.30/Rule 15 Announcement, Horizon Therapeutics plc.txt new file mode 100644 index 0000000000000000000000000000000000000000..31198edf183b3baf2da8533fb563c4313a6bc63b --- /dev/null +++ b/news/AMGN/2023.01.30/Rule 15 Announcement, Horizon Therapeutics plc.txt @@ -0,0 +1 @@ +DUBLIN - Horizon Therapeutics plc (NASDAQ: HZNP), On December 12, 2022, the board of directors of Horizon Therapeutics plc, a public limited company incorporated in Ireland (the 'Company' or 'Horizon') and the board of directors of Amgen Inc., a Delaware corporation, announced that they had reached agreement on the terms of a cash offer for the Company by Pillartree Limited, a newly formed private limited company wholly owned by Amgen, pursuant to which Acquirer Sub will acquire the entire issued and to be issued ordinary share capital of the Company.As outlined in that announcement, the Proposed Transaction is to be implemented by way of a scheme of arrangement under Chapter 1 of Part 9 of the Irish Companies Act of 2014 (the 'Scheme').In accordance with Rule 15 of the Irish Takeover Panel Act, 1997, Takeover Rules, 2022 (the 'Irish Takeover Rules'), Amgen and Horizon announce that a joint letter, dated January 27, 2023, containing details of the proposal (the 'Proposal') to (i) equity award holders under the Horizon Pharma, Inc. Amended 2011 Equity Incentive Plan, the Horizon Pharma Public Limited Company 2014 Non-Employee Equity Plan, the Horizon Pharma Public Limited Company Amended and Restated 2014 Equity Incentive Plan, the Horizon Therapeutics Public Limited Company Amended and Restated 2018 Equity Incentive Plan and the Horizon Therapeutics Public Limited Company Amended and Restated 2020 Equity Incentive Plan (each a 'Horizon Equity Award Holder') and (ii) participants in the Horizon Therapeutics plc 2020 Employee Share Purchase Plan (each a 'Horizon ESPP Participant'), has been sent to the Horizon Equity Award Holders and the Horizon ESPP Participants in connection with the Proposed Transaction.Statements Required by the Irish Takeover RulesThe directors of Amgen and Acquirer Sub accept responsibility for the information contained in this announcement other than that relating to Horizon, the Horizon group, directors of Horizon and members of their immediate families, related trusts and persons connected with them. To the best of the knowledge and belief of the directors of Amgen and Acquirer Sub (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.The directors of Horizon accept responsibility for the information contained in this announcement relating to Horizon, the Horizon group, directors of Horizon and members of their immediate families, related trusts and persons connected with them. To the best of the knowledge and belief of the directors of Horizon (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.No Offer or SolicitationThis announcement is for information purposes only and is not intended to, and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the Proposed Transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable Law.The Proposed Transaction will be implemented by way of an Irish High Court-sanctioned scheme of arrangement on the terms provided for in the Scheme Document (or, if the Proposed Transaction is implemented by way of a Takeover Offer, the Takeover Offer Document), which contains the full terms and conditions of the Proposed Transaction, including details of how Horizon shareholders may vote in respect of the Proposed Transaction. Any decision in respect of, or other response to, the Proposed Transaction, should be made only on the basis of the information contained in the Proxy Statement (as defined below) (which includes the Scheme Document) (or, if the Proposed Transaction is implemented by way of a Takeover Offer, the Takeover Offer Document) and other relevant documents filed or to be filed with the U.S. Securities and Exchange Commission (the 'SEC') in connection with the Proposed Transaction, including any documents incorporated therein.Cautionary Statement Regarding Forward-looking StatementsThis announcement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by words such as 'anticipate,' 'believe,' 'intend,' 'estimate,' 'expect,' 'see,' 'continue,' 'could,' 'can,' 'may,' 'will,' 'likely,' 'depend,' 'should,' 'would,' 'plan,' 'predict,' 'target,' and similar expressions, and may include references to assumptions and relate to Horizon's and Amgen's future prospects, developments and business strategies, and the Proposed Transaction. Such forward-looking statements include, but are not limited to, statements relating to the Proposed Transaction involving Amgen and Horizon, Horizon's current expectations and estimates about the expected effects and anticipated benefits of the Proposed Transaction, including Amgen's ability to further diversify its commercial portfolio and expand its pipeline to reinforce continued long-term growth, Amgen's broadened global scale to further maximize the growth potential of Horizon's marketed medicines, the combined companies' long-term R&D discovery and development efforts, and Amgen's R&D capabilities to rapidly advance the pipeline to find more therapies for patients who are underserved, the date of closing of the Proposed Transaction, including the parties' ability to satisfy the conditions to the consummation of the Proposed Transaction and the other conditions set forth in the Transaction Agreement, and Horizon's business activities and strategies. Horizon's expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks, and changes in circumstances, including but not limited to risks and uncertainties related to: the ability of the parties to consummate the Proposed Transaction in a timely manner or at all; the satisfaction (or waiver) of conditions to the consummation of the Proposed Transaction, including with respect to the approval of Horizon shareholders and required regulatory approvals; potential delays in consummating the Proposed Transaction; the ability of Horizon to timely and successfully achieve the anticipated benefits of the Proposed Transaction; the impact of health pandemics, including the COVID-19 pandemic, on the parties' respective businesses and the actions the parties may take in response thereto, the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the Transaction Agreement; the effect of the announcement or pendency of the Proposed Transaction on Horizon's business relationships, operating results and business generally; costs related to the Proposed Transaction and the outcome of any legal proceedings that may be instituted against the parties or any of their respective directors or officers related to the Transaction Agreement or the Proposed Transaction. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption 'Risk Factors' and elsewhere in Horizon's most recent filings with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 and any subsequent reports on Form 10-K, Form 10-Q or Form 8-K filed with the SEC from time to time and available at www.sec.gov. These documents can be accessed on Horizon's website at https://ir.horizontherapeutics.com/financial-information/sec-filings. The forward-looking statements set out in this announcement are made only as of the date hereof. Horizon assumes no obligation and does not intend to update these forward-looking statements, except as required by law.Contact:Email: Investor-relations@horizontherapeutics.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git "a/news/AMGN/2023.01.31/AMJEVITA\342\204\242 (ADALIMUMAB-ATTO), FIRST BIOSIMILAR TO HUMIRA\302\256, NOW AVAILABLE IN THE UN...txt" "b/news/AMGN/2023.01.31/AMJEVITA\342\204\242 (ADALIMUMAB-ATTO), FIRST BIOSIMILAR TO HUMIRA\302\256, NOW AVAILABLE IN THE UN...txt" new file mode 100644 index 0000000000000000000000000000000000000000..caf0d1380faadec65a15ebf1b1c7db1df0eeb291 --- /dev/null +++ "b/news/AMGN/2023.01.31/AMJEVITA\342\204\242 (ADALIMUMAB-ATTO), FIRST BIOSIMILAR TO HUMIRA\302\256, NOW AVAILABLE IN THE UN...txt" @@ -0,0 +1,55 @@ + + +Four Years of Real-World Experience in More Than 300,000 Patients and Over 60 Countries1 +THOUSAND OAKS, Calif., Jan. 31, 2023 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced AMJEVITA™ (adalimumab-atto), a biosimilar to Humira®* (adalimumab), is now available in the United States. AMJEVITA was the first biosimilar to Humira approved by the U.S. Food and Drug Administration (FDA), in 2016.2,3 +"With today's announcement, AMJEVITA is the first U.S. biosimilar to Humira®, a medicine used by more than a million patients living with certain serious inflammatory diseases," said Murdo Gordon, executive vice president of Global Commercial Operations at Amgen. "With our track record of developing and manufacturing biologics and decades of experience in inflammation, Amgen is uniquely equipped to supply this biosimilar medicine while reducing costs." +"Biosimilars are extensively studied, FDA-approved treatments that have the potential to reduce costs to the healthcare system," said Steven Taylor, president and chief executive officer at the Arthritis Foundation. "AMJEVITA provides another treatment option for patients and their doctors." +AMJEVITA (40 mg) is available at a list price (Wholesale Acquisition Cost) 55% below the current Humira list price. AMJEVITA is also available at a list price 5% below the current Humira list price. Amgen's goal is to provide broad access for patients by offering two options to health plans and pharmacy benefit managers. More information on Amgen's approach to responsible pricing is on the company's website.   +Like Humira's citrate-free formulation that is associated with less pain at the injection site, AMJEVITA is citrate-free.2,4 AMJEVITA will be available in prefilled syringe and autoinjector presentations to support dosing in each of the approved indications. Amgen offers patient support, such as financial support information and educational resources, through AMJEVITA SupportPlus. To learn more, visit AMJEVITA.com. +Amgen currently has 11 biosimilar medicines in market or under development. Five are FDA-approved in the U.S. and three are approved in the European Union. +About AMJEVITA™ (adalimumab-atto)AMJEVITA is a biosimilar to Humira®* (adalimumab), an anti-TNF-α monoclonal antibody. The active ingredient of AMJEVITA is an anti-TNF-α monoclonal antibody that has the same amino acid sequence as Humira. AMJEVITA is approved to treat seven inflammatory diseases including moderate-to-severe rheumatoid arthritis in adults, moderate-to-severe polyarticular juvenile idiopathic arthritis in patients 2 years of age and older, psoriatic arthritis in adults, ankylosing spondylitis in adults, moderate-to-severe chronic plaque psoriasis in adults, moderate-to-severe Crohn's disease in adults and pediatric patients 6 years of age and older and moderate-to-severe ulcerative colitis in adults.2 AMJEVITA outside the U.S. is marketed as AMGEVITA® (adalimumab) and has been prescribed to more than 300,000 patients in over 60 countries. +*Humira® is a registered trademark of AbbVie, Inc. +In the U.S., AMJEVITA is indicated for: +reducing signs and symptoms, inducing major clinical response, inhibiting the progression of structural damage, and improving physical function in adult patients with moderately to severely active rheumatoid arthritis, alone or in combination with methotrexate or other non-biologic DMARDs.reducing signs and symptoms of moderately to severely active polyarticular juvenile idiopathic arthritis in patients 2 years of age and older, alone or in combination with methotrexate.reducing signs and symptoms, inhibiting the progression of structural damage, and improving physical function in adult patients with active psoriatic arthritis, alone or in combination with non-biologic DMARDs.reducing signs and symptoms in adult patients with active ankylosing spondylitis.the treatment of moderately to severely active Crohn's disease in adults and pediatric patients 6 years of age and older.the treatment of moderately to severely active ulcerative colitis in adult patients. The effectiveness of adalimumab products has not been established in patients who have lost response to or were intolerant to TNF blockers.the treatment of adult patients with moderate to severe chronic plaque psoriasis who are candidates for systemic therapy or phototherapy, and when other systemic therapies are medically less appropriate. AMJEVITA should only be administered to patients who will be closely monitored and have regular follow-up visits with a physician.AMJEVITA™ U.S. Important Safety Information +SERIOUS INFECTIONS +Patients treated with AMJEVITA are at increased risk for developing serious infections that may lead to hospitalization or death. Most patients who developed these infections were taking concomitant immunosuppressants such as methotrexate or corticosteroids. +Discontinue AMJEVITA if a patient develops a serious infection or sepsis. +Reported infections include: +Active tuberculosis (TB), including reactivation of latent TB. Patients with TB have frequently presented with disseminated or extrapulmonary disease. Test patients for latent TB before AMJEVITA use and during therapy. Initiate treatment for latent TB prior to AMJEVITA use.Invasive fungal infections, including histoplasmosis, coccidioidomycosis, candidiasis, aspergillosis, blastomycosis and pneumocystosis. Patients with histoplasmosis or other invasive fungal infections may present with disseminated, rather than localized, disease. Antigen and antibody testing for histoplasmosis may be negative in some patients with active infection. Consider empiric anti-fungal therapy in patients at risk for invasive fungal infections who develop severe systemic illness. Bacterial, viral, and other infections due to opportunistic pathogens, including Legionella and Listeria.Carefully consider the risks and benefits of treatment with AMJEVITA prior to initiating therapy in patients: 1. with chronic or recurrent infection, 2. who have been exposed to TB, 3. with a history of opportunistic infection, 4. who resided in or traveled in regions where mycoses are endemic, 5. with underlying conditions that may predispose them to infection. Monitor patients closely for the development of signs and symptoms of infection during and after treatment with AMJEVITA, including the possible development of TB in patients who tested negative for latent TB infection prior to initiating therapy. +Do not start AMJEVITA during an active infection, including localized infections.Patients older than 65 years, patients with co-morbid conditions, and/or patients taking concomitant immunosuppressants may be at greater risk of infection.If an infection develops, monitor carefully and initiate appropriate therapy.Drug interactions with biologic products: A higher rate of serious infections has been observed in rheumatoid arthritis (RA) patients treated with rituximab who received subsequent treatment with a TNF blocker. An increased risk of serious infections has been seen with the combination of TNF blockers with anakinra or abatacept, with no demonstrated added benefit in patients with RA. Concomitant administration of AMJEVITA with other biologic DMARDs (e.g., anakinra or abatacept) or other TNF blockers is not recommended based on the possible increased risk for infections and other potential pharmacological interactions.MALIGNANCY +Lymphoma and other malignancies, some fatal, have been reported in children and adolescent patients treated with TNF blockers including adalimumab products. Postmarketing cases of hepatosplenic T-cell lymphoma (HSTCL), a rare type of T-cell lymphoma, have been reported in patients treated with TNF blockers including adalimumab products. These cases have had a very aggressive disease course and have been fatal. The majority of reported TNF-blocker cases have occurred in patients with Crohn's disease or ulcerative colitis and the majority were in adolescent and young adult males. Almost all of these patients had received treatment with azathioprine or 6-mercaptopurine concomitantly with a TNF blocker at or prior to diagnosis. It is uncertain whether the occurrence of HSTCL is related to use of a TNF blocker or a TNF blocker in combination with these other immunosuppressants.  +Consider the risks and benefits of AMJEVITA prior to initiating or continuing therapy in a patient with known malignancy.In clinical trials of some TNF blockers, including adalimumab products, more cases of malignancies were observed among TNF-blocker-treated patients compared to control patients.Non-melanoma skin cancer (NMSC) was reported during clinical trials for adalimumab-treated patients. Examine all patients, particularly those with a history of prolonged immunosuppressant or PUVA therapy, for the presence of NMSC prior to and during treatment with AMJEVITA.In adalimumab clinical trials, there was an approximate 3-fold higher rate of lymphoma than expected in the general U.S. population. Patients with chronic inflammatory diseases, particularly those with highly active disease and/or chronic exposure to immunosuppressant therapies, may be at higher risk of lymphoma than the general population, even in the absence of TNF blockers.Postmarketing cases of acute and chronic leukemia were reported with TNF blocker use. Approximately half of the postmarketing cases of malignancies in children, adolescents, and young adults receiving TNF blockers were lymphomas; other cases included rare malignancies associated with immunosuppression and malignancies not usually observed in children and adolescents.HYPERSENSITIVITY +Anaphylaxis and angioneurotic edema have been reported following administration of adalimumab products. If a serious allergic reaction occurs, stop AMJEVITA and institute appropriate therapy. +HEPATITIS B VIRUS REACTIVATION +Use of TNF blockers, including AMJEVITA, may increase the risk of reactivation of hepatitis B virus (HBV) in patients who are chronic carriers. Some cases have been fatal.  Evaluate patients at risk for HBV infection for prior evidence of HBV infection before initiating TNF blocker therapy. Exercise caution in patients who are carriers of HBV and monitor them during and after AMJEVITA treatment. Discontinue AMJEVITA and begin antiviral therapy in patients who develop HBV reactivation. Exercise caution when resuming AMJEVITA after HBV treatment. +NEUROLOGIC REACTIONS +TNF blockers, including adalimumab products, have been associated with rare cases of new onset or exacerbation of central nervous system and peripheral demyelinating diseases, including multiple sclerosis, optic neuritis, and Guillain-Barré syndrome.  Exercise caution when considering AMJEVITA for patients with these disorders; discontinuation of AMJEVITA should be considered if any of these disorders develop. +HEMATOLOGICAL REACTIONS +Rare reports of pancytopenia, including aplastic anemia, have been reported with TNF blockers. Medically significant cytopenia has been infrequently reported with adalimumab products.  Consider stopping AMJEVITA if significant hematologic abnormalities occur. +CONGESTIVE HEART FAILURE +Worsening or new onset congestive heart failure (CHF) has been reported with TNF blockers. Cases of worsening CHF have been observed with adalimumab products; exercise caution and monitor carefully. +AUTOIMMUNITY +Treatment with adalimumab products may result in the formation of autoantibodies and, rarely, in development of a lupus-like syndrome. Discontinue treatment if symptoms of a lupus-like syndrome develop. +IMMUNIZATIONS +Patients on AMJEVITA should not receive live vaccines. Pediatric patients, if possible, should be brought up to date with all immunizations before initiating AMJEVITA therapy. Adalimumab is actively transferred across the placenta during the third trimester of pregnancy and may affect immune response in the in utero exposed infant. The safety of administering live or live-attenuated vaccines in infants exposed to adalimumab products in utero is unknown. Risks and benefits should be considered prior to vaccinating (live or live-attenuated) exposed infants. +ADVERSE REACTIONS +The most common adverse reactions in adalimumab clinical trials (>10%) were: infections (e.g., upper respiratory, sinusitis), injection site reactions, headache, and rash. +Please see the accompanying AMJEVITA full Prescribing Information, including Medication Guide. +About Amgen Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.  +Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.  +Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the "World's Best Employers" by Forbes and one of "America's 100 Most Sustainable Companies" by Barron's. +For more information, visit Amgen.com and follow us on Twitter, LinkedIn, Instagram, TikTok and YouTube. +Amgen Forward-Looking StatementsThis news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd., Kyowa-Kirin Co., Ltd., or any collaboration to manufacture therapeutic antibodies against COVID-19), the performance of Otezla® (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), the Five Prime Therapeutics, Inc. acquisition, the Teneobio, Inc. acquisition, the ChemoCentryx, Inc. acquisition, or the proposed acquisition of Horizon Therapeutics plc, as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic on our business, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. +No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, preclinical results do not guarantee safe and effective performance of product candidates in humans. The complexity of the human body cannot be perfectly, or sometimes, even adequately modeled by computer or cell culture systems or animal models. The length of time that it takes for us to complete clinical trials and obtain regulatory approval for product marketing has in the past varied and we expect similar variability in the future. Even when clinical trials are successful, regulatory authorities may question the sufficiency for approval of the trial endpoints we have selected. We develop product candidates internally and through licensing collaborations, partnerships and joint ventures. Product candidates that are derived from relationships may be subject to disputes between the parties or may prove to be not as effective or as safe as we may have believed at the time of entering into such relationship. Also, we or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. +Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. A breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our environmental, social and governance objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all. +CONTACT: Amgen, Thousand Oaks Michael Strapazon, 805-313-5553 (media) Jessica Akopyan 805-440-5721 (media)Arvind Sood, 805-447-1060 (investors)  +References +Data on File. Amgen. 2022.AMJEVITA U.S. prescribing information. Available at: https://www.pi.amgen.com/-/media/Project/Amgen/Repository/pi-amgen-com/Amjevita/amjevita_pi_hcp_english.pdf   [Last accessed: January 2023]Food and Drug Administration. FDA approves Amjevita, a biosimilar to Humira. Available at: https://www.fda.gov/news-events/press-announcements/fda-approves-amjevita-biosimilar-humira. Last accessed January 2023.Nash P, et al. Randomized Crossover Comparison of Injection Site Pain with 40 mg/0.4 or 0.8 mL Formulations of Adalimumab in Patients with Rheumatoid Arthritis. Rheumatol Ther. 2016 Dec; 3 (2): 257-270.  + +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/amjevita-adalimumab-atto-first-biosimilar-to-humira-now-available-in-the-united-states-301734177.html +SOURCE Amgen + + diff --git a/news/AMGN/2023.01.31/AbbVie's Humira gets a U.S. rival, but costs could stay high.txt b/news/AMGN/2023.01.31/AbbVie's Humira gets a U.S. rival, but costs could stay high.txt new file mode 100644 index 0000000000000000000000000000000000000000..988bedc62bfe1c6bc3eb9e69cdd4d1fca5b5d732 --- /dev/null +++ b/news/AMGN/2023.01.31/AbbVie's Humira gets a U.S. rival, but costs could stay high.txt @@ -0,0 +1 @@ +Rival drugmaker Amgen Inc on Tuesday launched Amjevita, the first biosimilar version of AbbVie's 20-year-old drug, with two tiers of pricing. One sets a 5% discount to Humira's monthly price of $6,922. The other will be about half price but may not be widely available.Most patients' co-insurance costs are set as a percentage of list price and are expected to be calculated off the higher price.At least another seven Humira biosimilars are expected this summer and could debut with discounted list prices. Even then, patient groups, pharmacists, doctors and academics said they will be obscured by the U.S. private insurance system of middlemen negotiation and after-market discounts called rebates. Pharmacy benefit managers (PBMs) say that the deep discounts they receive are returned to insurers and employers to lower their overall medical costs. Benjamin Rome, a drug pricing researcher at Harvard Medical School, said introduction of biosimilars in the United States has not sent prices tumbling as originally expected.Unlike pills, which have extremely cheap generic copies, complex, expensive biologic drugs made from living cells cannot be exactly duplicated. Their closest alternatives are called biosimilars."The bottom line is it's feasible that even if prices for Humira and biosimilars go down, this could be in the form of higher rebates to PBMs rather than actual lower prices that are passed onto patients," Rome said.The U.S. pays the highest drug prices in the world, in part because many different private sector companies do not have the power of a single government payer.The Biden Administration's Inflation Reduction Act will allow the government's Medicare program for people aged 65 and older to negotiate prices of its most costly medicines, but drugs like Humira with direct competition are excluded.Humira - the world's biggest selling non-COVID prescription drug - is used to treat rheumatoid arthritis, Crohn's disease, ulcerative colitis and psoriasis.A 5% lower list price would result in a savings of about $35 a month for a person whose coinsurance payment is 10% of the list price.Some patients who qualify for AbbVie's patient assistance programs pay heavily discounted rates. Amgen has launched a similar savings program for its version. There are currently about half a dozen drugs with biosimilar competition in the United States. Prices of those have decreased up to 20%, according to a report from the National Bureau of Economic Research. Amgen has set list prices of $1,557 and $3,288 per 40 milligram pen device, a two-week supply. Amgen executive Murdo Gordon told Reuters the lower price would attract healthcare systems that act as both an insurer and a provider and typically do not seek after-market discounts."If you think of a pharmaceutical benefit manager, they would prefer the high list price, because their business model is extracting rebates from manufacturers and passing them on to their employer, customers or their downstream health plan customers," Gordon said.UnitedHealth Group's OptumRX and Cigna Corp said last year they had deals to make Humira, as well as rivals from Amgen and others, available under the same pricing and access terms. CVS Health, another large PBM, plans to include the drug in its recommended coverage list but has not announced terms.JC Scott, president of the Pharmaceutical Care Management Association, said PBMs want more competition in the prescription drug marketplace and discouraged delays sought by drugmakers."The bottom line is that increased competition is the most effective and sustainable way to drive prescription drug costs down," he said.LIST PRICES TO FALLIn Europe, where governments negotiate drug prices, AbbVie offered up to 80% discounts in November 2018, a month after Humira went off patent, Reuters reported. Additional AbbVie patents continued to protect it in the United States, and the company struck deals with Amgen and others to allow rival drugs in exchange for royalty payments.AbbVie declined to comment.Douglas Hoey, chief executive of the National Community Pharmacists Association, said he expected U.S. prices for drugs of this type to fall about 15%-20% after new competition enters in July.But Robert Popovian, the chief science policy officer at patient advocacy group Global Healthy Living Foundation, said it would take further market and public pressure after the summer entries to get list prices down.Analysts expect the introduction of biosimilar competition will drive down Humira sales. They are forecasting sales of $21.2 billion in 2022, dropping to $13.4 billion this year and $8.3 billion in 2024, according to Refinitiv. Analysts expect Amgen's biosimilar to garner sales of $747.6 million in 2023 and $933.8 million in 2024.Marcus Snow, a rheumatologist at the University of Nebraska Medical Center, said he would prescribe adalimumab, the chemical name for Humira, based on price and each patient's insurance coverage terms.All things being equal, he said, he would keep existing patients on Humira and try to put new patients on the medicine that was most likely to be given preference on formularies in the future, to avoid switching. "I wouldn't expect to see the price changes that we all hope to have in the first year," Snow said. (Reporting by Patrick Wingrove in New York; Editing by Caroline Humer and Bill Berkrot)By Patrick Wingrove \ No newline at end of file diff --git a/news/AMGN/2023.01.31/Amgen : Q4 2022 Earnings Conference Call Transcript.txt b/news/AMGN/2023.01.31/Amgen : Q4 2022 Earnings Conference Call Transcript.txt new file mode 100644 index 0000000000000000000000000000000000000000..8d096cac319cd76178abb7f039ad62084b6f6f12 --- /dev/null +++ b/news/AMGN/2023.01.31/Amgen : Q4 2022 Earnings Conference Call Transcript.txt @@ -0,0 +1,149 @@ + + + + AMGEN TRANSCRIPT OF FOURTH QUARTER AND FULL YEAR 2022 + + + EARNINGS WEBCAST + + + January 31, 2023 + + + Operator + + + My name is Jason, and I will be the conference facilitator today for Amgen's Fourth Quarter / Full Year 2022 Financial Results Conference Call. I would now like to introduce Mr. Arvind Sood, Vice President of Investor Relations. Mr. Sood, you may now begin. + + + Arvind Sood + + + Vice President, Investor Relations + + + Okay. Thank you, Jason. Good afternoon, everyone, and welcome to our call to discuss the results for Q4 and full-year 2022. 2022 was once again a year exemplified by great execution despite some of the macro challenges. Our Chairman and CEO, Bob Bradway, will make some opening comments, followed by prepared comments from other members of our senior leadership team. + + + You should have received a link to our slides that we have posted. Through the course of our discussion, we will make some forward-looking statements and use non-GAAP financial measures to describe our performance, and just a reminder that actual results can vary materially. So, with that, I would like to turn the call over to Bob. + + + Robert Bradway + + + Chairman and Chief Executive Officer + + + Okay. Thank you, Arvind, and hello, everyone, and thank you for joining our call. So, beginning the year feeling confident about the long-term growth outlook for our business, and let me offer 5 reasons why. First, we have a number of innovative volume-driven products that still have plenty of room to run, and we saw that in 2022. Repatha, Prolia and EVENITY each generated double-digit sales and volume growth in the fourth quarter and for the full year. We expect continued growth from these products in in 2023 and beyond with Repatha, in particular, helped by important new data from the FOURIER open-label extension study and new prescribing guidelines. + + + OTEZLA delivered 7% volume growth in both the fourth quarter and the full year, benefiting from a label expansion that gives us the opportunity to reach millions of new patients in the U.S. with mild to moderate psoriasis. LUMAKRAS and TEZSPIRE collectively contributed more than $450 million in full year sales, and we're pursuing additional indications for both products. We're especially pleased to see + + + 1 + + + + + TEZSPIRE being utilized by patients across all types of severe asthma. Murdo will share more about the performance of our in-line products in a moment. + + + Second, we moved 6 first-in-class molecules into Phase 3 or potentially registration-enabling trials in 2022, including Olpasiran for LP(a), rocatinlimab for atopic dermatitis, TEZSPIRE in eosinophilic esophagitis, and of course, bemarituzimab, tarlatamab and BLINCYTO for cancer. We've also begun enrolling patients in a Phase 2 trial for AMG 133. Based on early data, this molecule, with its unique mechanism of action, looks like it may have an attractive profile for the treatment of obesity. And more on our pipeline from Dave Reese in a moment. + + + Third, we have an industry-leading biosimilars business that will contribute to our growth over time. In 2022, we delivered positive Phase 3 data for our biosimilar candidates to EYLEA, SOLIRIS and STELARA, positioning us to be in the first wave of these launches, which we know is critical to success. We're also less than 24 hours into the launch of AMJEVITA in the U.S., and AMGEVITA is the leading biosimilar to HUMIRA internationally. And with a 5-month lead over the next entrant, we're well positioned for success in the U.S. All told, we have six more biosimilar launches planned in the U.S. and markets around the world between now and the end of the decade, making this another source of long-term growth for us. + + + Fourth, we've often said that we would look to licensing and acquisitions in our stated areas of strategic interest. And that's what we've done, building on our decades of experience in inflammation with 2 significant transactions that will strengthen our presence in this space. Through the acquisition of ChemoCentryx, we added TAVNEOS, a first-in-class treatment for ANCA-associated vasculitis, and we're off to a strong start there. Our announced acquisition of Horizon Therapeutics will add several additional first-in-class early in life cycle biologic medicines, including TEPEZZA, KRYSTEXXA and UPLIZNA that will add to our growth profile through 2030 and beyond. We're working our way through the regulatory review processes for that deal and are confident that the deal poses no anticompetitive matters. And we have received a second request from the U.S. FTC, and we'll work with them to answer their questions while remaining optimistic that we can complete the deal in the first half of year. + + + Finally, we've stayed true to our capital allocation priorities, investing in our business to drive long-term growth while also returning capital to our shareholders through share repurchases and a growing dividend. You'll hear more from Peter on this shortly. And everything we achieved last year and everything we will achieve going forward is due to the hard work and commitment of our people. They're passionate about our mission to serve patients. They're clear on how their work contributes to our success, and they're ready to seize the opportunities and meet the challenges that await us. I'm grateful to all of them. I look forward to your questions a little later on, but now let me turn the call over to Murdo. + + + 2 + + + + + Murdo Gordon + + + Executive Vice President, Global Commercial Operations + + + Thanks, Bob. 2022 was another year of strong execution of our mission to bring innovative products to the millions of patients in the world who suffer from grievous illness. The evolution of our portfolio continued, driven by record sales for 16 brands. We saw strong volume gains across our general medicine and hematology-oncology growth brands. Our inflammation therapeutic area expanded with the launch of TEZSPIRE and the acquisition of TAVNEOS, 2 first-in-class medicines that treat serious disease. + + + In addition, our announced acquisition of Horizon Therapeutics will add several important medicines to our portfolio. In total, volume growth for 2022 was 9% with 7% growth in the U.S. and 14% growth ex U.S. as we continue to deliver on our international growth strategy. Excluding the impact of foreign exchange, full year global product sales grew 4% as our volume increases were offset by a 5% decline in net selling price, including the 2% negative foreign exchange impact, product sales increased 2% year-over-year. + + + In the quarter, we also saw strong volume growth with a 10% increase year-on-year. + + + Starting with our general medicine business, which includes Prolia, EVENITY, Repatha and Aimovig, overall revenue for these four products grew 21% year-over-year for the fourth quarter and 18% for the full year, driven by 19% and 21% volume growth, respectively. In bone health, Prolia sales grew 14% year-over-year for the fourth quarter, driven primarily by 11% volume growth. EVENITY, which complements Prolia in our bone portfolio, had record sales of $225 million for the quarter, driven by strong volume growth across markets. Repatha sales increased 22% year-over-year for the fourth quarter with volume growth of 31%, partially offset by lower net selling price. In the U.S., we generated volume growth of 32% for the fourth quarter, aided by broad adoption of Repatha by cardiologists and increasing adoption by primary care providers. We saw declining net selling prices in the U.S. as we offered higher rebates to support broad Medicare Part D and commercial patient access. Looking ahead to 2023, we expect less year-over-year U.S. price erosion than we saw in 2022. + + + Outside the U.S., fourth quarter sales of Repatha grew 36% year-over-year, driven by 31% volume growth. Globally, Repatha has treated over 1.5 million patients since launch. Repatha's strong prescribing history in cardiology and expanding use in the primary care setting position us well to bring Repatha to more patients globally. With the FOURIER long-termfollow-up data, in addition to evolving and more aggressive treatment guidelines, there's a clear rationale that lowering LDL cholesterol as much and as early as possible with Repatha will reduce cardiovascular risk for patients around the world. + + + 3 + + + + + Transitioning to our inflammation portfolio. Otezla sales decreased 2% year-over-year for the quarter and increased 2% for the full year. We saw 7% volume growth in both periods. This was offset by lower net selling price, stemming from enhancements to our co-pay and patient assistance programs to support new patients starting treatment as well as additional rebates to improve the quality of coverage. During the fourth quarter, our U.S. Otezla business was impacted by new patient demand from free drug programs by newly launched topical and systemic competition. We expect that impact to continue in Q1 of 2023. + + + We also expect to see the typical pattern of lower sales in the first quarter relative to subsequent quarters due primarily to the effect of insurance reverifications, co-pays and deductibles for patients. The combined effect could lead to first quarter Otezla sales being similar to or below those from Q1 of 2022. Longer term, we continue to see strong growth potential for Otezla, given its established safety profile, strong payer coverage with limited prior authorization requirements and ease of administration. Otezla remains the only approved oral systemic therapy with a broad indication and is well positioned to help the 4 million U.S. patients with mild to moderate psoriasis, 1.5 million of whom have psoriasis that cannot be optimally addressed by a topical and can benefit from a first-line systemic treatment like Otezla. + + + ENBREL sales decreased 1% year-over-year for the fourth quarter, driven by declines in volume and net selling price, partially offset by higher year-end inventory levels. ENBREL remains an important product for patients due to its long track record of efficacy and safety. TEZSPIRE continues its strong launch with $79 million in sales in the fourth quarter and $170 million for the full year. Allergists and pulmonologists have prescribed TEZSPIRE across a broad range of patients with severe uncontrolled asthma. We're also seeing initiation of TEZSPIRE in both biologic-naive and previously treated patients. Physicians acknowledge TEZSPIRE unique differentiated profile and has broad potential to treat the 2.5 million patients worldwide with severe uncontrolled asthma without any phenotypic and biomarker limitations. We're now preparing for the anticipated U.S. approval of the prefilled pen in the first quarter, which will offer patients the convenient option to administer TEZSPIRE at home. + + + Sales of TAVNEOS were $21 million in the fourth quarter. Our integration of ChemoCentryx is proceeding smoothly, confirming our belief that Amgen's deep experience in inflammation and nephrology and substantial market presence will allow us to bring TAVNEOS to more patients with ANCA-associated vasculitis. + + + We're also excited about our announced acquisition of Horizon Therapeutics. Our combined portfolio, which will include TEPEZZA, KRYSTEXXA and UPLIZNA will address serious inflammatory diseases and improve the lives of many patients. Amgen's commercial capabilities and global presence in approximately 100 markets will allow our combined team to deliver important therapies that will make a meaningful difference for more patients globally. + + + 4 + + + + + Today, we announced the launch of AMJEVITA, the first U.S. biosimilar to HUMIRA, a medicine used by more than 1 million patients living with serious inflammatory diseases. With our track record of developing and manufacturing biologics and decades of experience in inflammation, Amgen is uniquely equipped to supply patients with this biosimilar medicine. AMJEVITA is the first significant U.S. biosimilar in pharmacy benefit space, and we expect gradual uptake in the coming months as this market evolves. + + + Moving to our hematology and oncology business, which includes LUMAKRAS, KYPROLIS, XGEVA, Vectibix, Nplate and BLINCYTO. These six innovative products grew 14% year-over-year with 17% volume growth for the quarter. Full year sales grew 13%, driven by volume gains. KYPROLIS sales grew 14% in the fourth quarter. Nplate sales in the fourth quarter included $207 million related to a onetime order from the U.S. government. Given the strong performance of our hem/onc portfolio in 2022 and the recent positive data on both BLINCYTO and Vectibix, I look forward to the future growth potential of this portfolio. + + + LUMAKRAS reported $71 million in sales in the fourth quarter and $285 million for the full year. Quarter- over-quarter sales declined 5% with 12% volume growth, more than offset by a lower net selling price driven by a $12 million unfavorable price adjustment resulting from a reimbursement approval decision in France and unfavorable changes to estimated sales deductions. Outside the U.S., LUMAKRAS has now been approved in over 45 countries. We've launched LUMAKRAS in 30 markets and are rapidly pursuing reimbursement in the remaining countries. As we've noted before, the market for LUMAKRAS focused on the 7,000 U.S. and 20,000 ex U.S. patients in the second-line setting. Longer-term, we expect LUMAKRAS growth to come from moving into earlier lines of therapy and expanding into additional tumor types. + + + Sales of our oncology biosimilars declined 40% year-over-year for the for the fourth quarter and 30% full year, driven by lower price. While our biosimilars for MVASI and KANJINTI both hold leading shares, we expect continued net selling price deterioration and accelerating volume declines, driven by increased competition. The most recently published average selling price in the U.S. declined 38% year- over-year for MVASI and 51% for KANJINTI. Over time, we expect long-term growth in our biosimilars business to be driven by the addition of new molecules and additional launches. + + + And as we start the New Year, I'm inspired by the hard work of the thousands of Amgen employees around the world who wake up every day to serve our patients. Our expanding international presence and diverse portfolio of products, further strengthened by the integration of ChemoCentryx and the announced acquisition of Horizon, position us well to serve many more patients globally. And with that, I'll turn it to Dave. + + + 5 + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amgen Inc. published this content on 01 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2023 04:47:04 UTC. + + diff --git a/news/AMGN/2023.01.31/Amgen : Q4 Earnings Snapshot.txt b/news/AMGN/2023.01.31/Amgen : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..f3fd0b49f304048865915bd34f59b438ab15f455 --- /dev/null +++ b/news/AMGN/2023.01.31/Amgen : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +THOUSAND OAKS, Calif. (AP) _ Amgen Inc. (AMGN) on Tuesday reported fourth-quarter earnings of $1.62 billion.On a per-share basis, the Thousand Oaks, California-based company said it had profit of $3. Earnings, adjusted for non-recurring costs, came to $4.09 per share.The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.04 per share.The world's largest biotech drugmaker posted revenue of $6.84 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $6.74 billion.Amgen expects full-year earnings in the range of $17.40 to $18.60 per share, with revenue in the range of $26 billion to $27.2 billion.Amgen shares have fallen almost 4% since the beginning of the year, while the S&P's 500 index has increased 6%. In the final minutes of trading on Tuesday, shares hit $252.45, a rise of 11% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMGN at https://www.zacks.com/ap/AMGNCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/AMGN/2023.01.31/Amgen posts full transcript and audio replay of fourth quarter and full year 2022 earni...txt b/news/AMGN/2023.01.31/Amgen posts full transcript and audio replay of fourth quarter and full year 2022 earni...txt new file mode 100644 index 0000000000000000000000000000000000000000..af74b85ff3541e91368a19aafac2e39e0f7e3d6f --- /dev/null +++ b/news/AMGN/2023.01.31/Amgen posts full transcript and audio replay of fourth quarter and full year 2022 earni...txt @@ -0,0 +1,13 @@ + + +THOUSAND OAKS, Calif., Jan. 31, 2023 /PRNewswire/ -- Amgen (NASDAQ:AMGN) posted the full transcript and audio replay of the company's 2022 fourth quarter and full year financial results webcast from earlier today. +The transcript, as with other selected presentations regarding developments in Amgen's business given by management at certain investor and medical conferences, can be found on Amgen's website, www.amgen.com, under Investors. Audio of the webcast will also be archived and available for replay for at least 90 days after the event. +CONTACT: Amgen, Thousand Oaks Jessica Akopyan, 805-447-0974 (media)Megan Fox, 805-447-1423 (media)Arvind Sood, 805-447-1060 (investors)  + +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/amgen-posts-full-transcript-and-audio-replay-of-fourth-quarter-and-full-year-2022-earnings-webcast-301735625.html +SOURCE Amgen + + diff --git a/news/AMGN/2023.01.31/Amgen revenue falls slightly as Lilly COVID deal contributes less.txt b/news/AMGN/2023.01.31/Amgen revenue falls slightly as Lilly COVID deal contributes less.txt new file mode 100644 index 0000000000000000000000000000000000000000..a41e7b37051eaef47c5e3ba72f77a28e8116d191 --- /dev/null +++ b/news/AMGN/2023.01.31/Amgen revenue falls slightly as Lilly COVID deal contributes less.txt @@ -0,0 +1 @@ +Amgen reported revenue of $6.84 billion in the quarter, down from $6.85 billion a year ago, but ahead of analysts' estimates of $6.77 billion, according to Refinitiv data. Amgen partnered with Lilly in 2020 to increase the supply of its COVID-19 antibody treatments. U.S. health regulators pulled the authorization for Lilly's last COVID antibody in November after determining it would not be effective against currently circulating coronavirus variants.The biotechnology company's listed "other revenue," which includes the manufacturing deal, fell to $287 million from $575 million last year.Amgen product sales were led by a 14% jump in osteoporosis drug Prolia to a quarterly record of $992 million.Adjusted earnings per share decreased to $4.09 from $4.40 a year ago, just missing analyst estimates of $4.10. Net income fell 15% to $1.62 billion.The biotechnology company forecast 2023 revenue of $26 billion to $27.2 billion, excluding the impact of its anticipated acquisition of Horizon Therapeutics Plc. The company expects to provide an updated forecast once that deal closes.Analysts estimate $27.17 billion in revenue for the full year, according to Refinitiv. Earlier in December, Amgen agreed to buy Horizon in a deal valued at $27.8 billion, fortifying its rare diseases portfolio with the access to the blockbuster thyroid eye disease treatment Tepezza."The announced acquisition of Horizon Therapeutics, which we expect to complete in the first half of this year, represents a compelling opportunity to serve more patients and strengthen our growth profile," Amgen Chief Executive Robert Bradway said in a statement.Earlier on Tuesday, Amgen launched Amjevita, the first U.S. biosimilar of AbbVie Inc's blockbuster arthritis treatment Humira. It began selling it in Europe in October 2018 after Humira first went off patent. (Reporting by Sriparna Roy in Bengaluru and Michael Erman in Maplewood, New Jersey; Editing by Bill Berkrot) \ No newline at end of file diff --git a/news/AMGN/2023.01.31/Global markets live: GM, Pfizer, Exxon, UBS, Boeing....txt b/news/AMGN/2023.01.31/Global markets live: GM, Pfizer, Exxon, UBS, Boeing....txt new file mode 100644 index 0000000000000000000000000000000000000000..b49af13c55c8969751a1132d0c39fe25fd1a8873 --- /dev/null +++ b/news/AMGN/2023.01.31/Global markets live: GM, Pfizer, Exxon, UBS, Boeing....txt @@ -0,0 +1,35 @@ + +  +  +Corporate results: + +Hapag-Lloyd: 2022 Ebit rises 7.4% to €18.5bn. +Pets at Home: the British company raises its annual profit outlook. +Samsung Electronics: the Korean giant's Q4 earnings are lower-than-expected. The group expects chip investments similar to 2022. +Stora Enso: despite a more complicated year-end, the group reports its best results in 22 years. +UBS: Q4 profit rises 23% and beats estimates. +Unicredit: increases its dividend payout target by 40% after record profit. +General Motors reported higher fourth-quarter net income and expects to post a larger-than-expected profit for the full year 2023, sending the U.S. automaker's stock up more than 5% in pre-market trading. +Pfizer expects annual sales of its COVID-19 vaccine and antiviral to fall more than expected, reinforcing market concerns about demand for its products as government orders slow. In pre-market trading, the stock was down more than 3%. +Caterpillar, the world's largest construction equipment company, reported a lower-than-expected quarterly profit as higher manufacturing and transportation costs weighed on its margins. +Exxon Mobil reported a $56 billion profit in 2022, setting a record in the Western oil industry. +McDonald’s beat market expectations for like-for-like quarterly sales but warned of continued inflationary pressures in the near term. The fast-food group was down 1.5% in pre-market trading. + +In other news: + +Ford Motor cuts prices and increases production of the Mustang Mach-E, following Tesla's announced rebates. +Leoni 's CEO takes over the same role at AMS-Osram. +Boeing will increase 737 MAX production at its U.S. plant in 2024. The manufacturer wins a $2.3 billion contract to deliver aerial refueling aircraft to the US Air Force. +BYD expects a five-fold increase in profit by 2022. +Vedanta is reportedly abandoning plans to sell a copper smelter in India, according to Bloomberg. +Rheinmetall and General Motors are likely to win a large order for U.S. Army trucks. +Nike is suing Lululemon for patent infringement on shoes. +Bed Bath & Beyond is unlikely to escape bankruptcy this week, according to several sources. +MFE-MediaForEurope announces a merger by absorption with its subsidiary Mediaset España. +Logitech appoints a new CFO. +Webuild signs a €208 million contract for works in Sicily. +Roche cooperates with US-based Jana Care for home blood tests. +GSK acquires 11% stake in Wave Life Sciences for $50m. + +Today's main earnings reports: Exxon Mobil, Samsung Electronics, Pfizer, McDonald's, United Parcel Service, Amgen, Vale, Canadian Pacific Railway, UBS, Epiroc, Vantage Towers, Stora Enso...  +  diff --git a/news/AMGN/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt b/news/AMGN/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d3f81417321caae04ff9d49cdf90aeb52759543 --- /dev/null +++ b/news/AMGN/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt @@ -0,0 +1 @@ +There's an uncomfortable feeling in markets this week that good news may be bad news once again - mainly because of what the former means for this week's big central banking set pieces.As U.S. Federal Reserve's Federal Open Market Committee kicks off its two-day policymaking meeting, the economic news from around the world brightened considerably. Possibly wary of a premature easing of financial conditions before its tightening campaign is finished, some investors suspect the Fed may want to hang tough for a bit longer - stressing more needs to be done to ensure inflation is licked even as it slows the pace of rate hikes another notch to a quarter point rise on Wednesday.Another one-two of half point rate rises from the European Central Bank and Bank of England the following day adds to the trepidation, not least with Spain reminding everyone on Monday that inflation rates can re-accelerate again even after peaking.And if global recession is avoided, the hawkishness may persist. That's why China's new year bounce back from COVID-lockdowns and the euro zone dodging a downturn due to falling energy prices in a warm winter matter so much. They account for the world's second and third biggest economic areas.China's economic activity swung back to growth in January after three months of contraction, according to official business surveys released on Tuesday.The euro zone economy confounded forecasts for a quarterly contraction of gross domestic product in the final three months of 2022. Eurostat estimated GDP in the bloc rose 0.1% in Q4 despite consensus expectations for a fall of 0.1%.And if the significant energy price relief of the past two months means activity picked up further early this year, the long-standing assumptions for a winter euro zone recession will evaporate.Underlining the point, the International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly due to "surprisingly resilient" demand in the United States and Europe, easing energy costs and China's reopening.Dogged by Brexit, tax rises and serial labour strikes, Britain was the clear outlier and is the only G7 nation to have suffered a cut to its 2023 IMF, with the economy set to shrink by 0.6% this year - a sharp downgrade from the prior IMF forecast.The constellation leaves markets on the back foot as they await the big monetary policy decisions.Deep in the weeds of the latest corporate earnings season - with more than a fifth of S&P500 firms reporting this week alone and Apple, Amazon and Alphabet all due on Thursday - Wall St stock futures remain in the red after a dour start to the week on Monday. European and Asia bourses were lower too. The dollar has picked up across the board, with two-year U.S. Treasury yields giving back only some of their gains to near three-week highs on Monday.Despite the upbeat macro news, China tech stocks dropped 1.7% on media reports that the Biden administration has stopped approving licenses for U.S. companies to export most items to China's Huawei, signalling new tension in the Sino-U.S. tech war.UniCredit jumped 8.1% to the top of STOXX 600 after the giant Italian lender pledged to return 5.25 billion euros ($5.69 billion) to investors based on its 2022 results after posting its best profit in more than a decade.UBS shares fell 3% after the Swiss banking giant predicted an "uncertain" year ahead plagued by accelerating inflation and higher interest rates - even as it beat estimates, upped its dividend and proposed another $5 billion stock buyback this year.Indian billionaire Gautam Adani's $2.5 billion share sale inched closer to full subscription on Tuesday as investors pumped in funds after a tumultuous week for his group in which its stocks were pummelled by a scathing short-seller reportKey developments that may provide direction to U.S. markets later on Tuesday: * U.S. Federal Reserve's Federal Open Market Committee starts two-day meeting * U.S. Q4 employment costs, Jan consumer confidence, Chicago PMI business survey, Dallas Fed services index, Nov house prices* U.S. corp earnings: Exxon Mobil, Marathon, Pfizer, McDonald's, UPS, Amgen, Caterpillar, AMD, Stryker, Mondelez, Moody's, GM, MSCI, Electronic Arts, Spotify, Snap, Chubb, Western Digital, Juniper Networks, Boston Properties, Edwards Lifesciences, Match, Sysco, Corning, Pentair, Intl Paper, AO Smith, Dover (By Mike Dolan, editing by Ed Osmond, mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/AMGN/2023.02.01/AbbVie's Humira gets a U.S. rival, but costs could stay high.txt b/news/AMGN/2023.02.01/AbbVie's Humira gets a U.S. rival, but costs could stay high.txt new file mode 100644 index 0000000000000000000000000000000000000000..2202a6345cc4611864cbe702bbd6789a4f67a235 --- /dev/null +++ b/news/AMGN/2023.02.01/AbbVie's Humira gets a U.S. rival, but costs could stay high.txt @@ -0,0 +1,78 @@ +Jan 31 (Reuters) - U.S. patients will finally get access +to cheaper versions of AbbVie Inc’s blockbuster +arthritis drug Humira this year, but the cost savings are +expected to be limited.Rival drugmaker Amgen Inc on Tuesday launched +Amjevita, the first biosimilar version of AbbVie’s 20-year-old +drug, with two tiers of pricing.One sets a 5% discount to Humira’s monthly price of $6,922. +The other will be about half price but may not be widely used as +it is unlikely to appeal to pharmacy benefit managers (PBMs)that +recommend which drugs most insurance providers should cover.Most patients’ co-insurance costs are set as a percentage of +list price and are expected to be calculated off the higher +price.At least another seven Humira biosimilars are expected this +summer and could debut with discounted list prices. Even then, +patient groups, pharmacists, doctors and academics said they +will be obscured by the U.S. private insurance system of +middlemen negotiation and after-market discounts called rebates.PBMs say that the deep discounts they receive are returned +to insurers and employers to lower their overall medical costs.Benjamin Rome, a drug pricing researcher at Harvard Medical +School, said introduction of biosimilars in the United States +has not sent prices tumbling as originally expected.Unlike pills, which have extremely cheap generic copies, +complex, expensive biologic drugs made from living cells cannot +be exactly duplicated. Their closest alternatives are called +biosimilars."The bottom line is it’s feasible that even if prices for +Humira and biosimilars go down, this could be in the form of +higher rebates to PBMs rather than actual lower prices that are +passed onto patients," Rome said.The U.S. pays the highest drug prices in the world, in part +because many different private sector companies do not have the +power of a single government payer.The Biden Administration’s Inflation Reduction Act will +allow the government’s Medicare program for people aged 65 and +older to negotiate prices of its most costly medicines, but +drugs like Humira with direct competition are excluded.Humira - the world's biggest selling non-COVID prescription +drug - is used to treat rheumatoid arthritis, Crohn’s disease, +ulcerative colitis and psoriasis.A 5% lower list price would result in a savings of about $35 +a month for a person whose coinsurance payment is 10% of the +list price.Some patients who qualify for AbbVie’s patient assistance +programs pay heavily discounted rates. Amgen has launched a +similar savings program for its version.There are currently about half a dozen drugs with biosimilar +competition in the United States. Prices of those have decreased +up to 20%, according to a report from the National Bureau of +Economic Research.Amgen has set list prices of $1,557 and $3,288 per 40 +milligram pen device, a two-week supply. Amgen executive Murdo +Gordon told Reuters the lower price would attract healthcare +systems that act as both an insurer and a provider and typically +do not seek after-market discounts."If you think of a pharmaceutical benefit manager, they +would prefer the high list price, because their business model +is extracting rebates from manufacturers and passing them on to +their employer, customers or their downstream health plan +customers," Gordon said.UnitedHealth Group’s OptumRX and Cigna Corp +said last year they had deals to make Humira, as well as rivals +from Amgen and others, available under the same pricing and +access terms. CVS Health, another large PBM, plans to +include the drug on its coverage list but as non-preferred with +less favorable terms.JC Scott, president of the Pharmaceutical Care Management +Association, said PBMs want more competition in the prescription +drug marketplace and discouraged delays sought by drugmakers."The bottom line is that increased competition is the most +effective and sustainable way to drive prescription drug costs +down," he said.LIST PRICES TO FALLIn Europe, where governments negotiate drug prices, AbbVie +offered up to 80% discounts in November 2018, a month after +Humira went off patent, Reuters reported.Additional AbbVie patents continued to protect it in the +United States, and the company struck deals with Amgen and +others to allow rival drugs in exchange for royalty payments.AbbVie declined to comment.Douglas Hoey, chief executive of the National Community +Pharmacists Association, said he expected U.S. prices for drugs +of this type to fall about 15%-20% after new competition enters +in July.But Robert Popovian, the chief science policy officer at +patient advocacy group Global Healthy Living Foundation, said it +would take further market and public pressure after the summer +entries to get list prices down.Analysts expect the introduction of biosimilar competition +will drive down Humira sales. They are forecasting sales of +$21.2 billion in 2022, dropping to $13.4 billion this year and +$8.3 billion in 2024, according to Refinitiv. Analysts expect +Amgen’s biosimilar to garner sales of $747.6 million in 2023 and +$933.8 million in 2024.Marcus Snow, a rheumatologist at the University of Nebraska +Medical Center, said he would prescribe adalimumab, the chemical +name for Humira, based on price and each patient’s insurance +coverage terms.All things being equal, he said, he would keep existing +patients on Humira and try to put new patients on the medicine +that was most likely to be given preference on formularies in +the future, to avoid switching."I wouldn't expect to see the price changes that we all hope +to have in the first year," Snow said.(Reporting by Patrick Wingrove in New York; Editing by Caroline +Humer and Bill Berkrot) \ No newline at end of file diff --git a/news/AMGN/2023.02.01/Amgen reports fourth quarter and full year 2022 financial results.txt b/news/AMGN/2023.02.01/Amgen reports fourth quarter and full year 2022 financial results.txt new file mode 100644 index 0000000000000000000000000000000000000000..16bd638632e7bdc6aee6821f56818731f1f2191d --- /dev/null +++ b/news/AMGN/2023.02.01/Amgen reports fourth quarter and full year 2022 financial results.txt @@ -0,0 +1 @@ +Amgen (NASDAQ: AMGN) today announced financial results for the fourth quarter and full year 2022 versus comparable periods in 2021.We executed effectively in 2022, delivering strong volume growth, advancing numerous first-in-class medicines in our pipeline, and staying on track to achieve our long-term growth objectives,' said Robert A. Bradway, chairman and chief executive officer. 'The announced acquisition of Horizon Therapeutics, which we expect to complete in the first half of this year, represents a compelling opportunity to serve more patients and strengthen our growth profile.'Key results includeFor the fourth quarter, total revenues were $6.8 billion, largely unchanged from Q4 2021. Q4 revenues benefited from a 4% increase in product sales, offset by lower Other Revenue from our COVID-19 manufacturing collaboration. Product sales growth was driven by 10% volume growth, partially offset by 3% lower net selling price and 2% negative impact from foreign exchange. Excluding the 2% negative impact of foreign exchange on product sales, total revenues increased 2%.o Volume growth of 10% included double-digit volume growth for a number of products including LUMAKRAS/LUMYKRAS (sotorasib), Nplate (romiplostim), EVENITY (romosozumab-aqqg), Repatha (evolocumab), Parsabiv (etelcalcetide), AMGEVITA (adalimumab), KYPROLIS (carfilzomib), and Prolia (denosumab).For the full year, total revenues increased 1% to $26.3 billion, resulting from a 2% increase in product sales driven by a 9% increase in volume, partially offset by 5% lower net selling price and 2% negative impact from foreign exchange. Excluding the 2% negative impact of foreign exchange on product sales, total revenues increased 3% for the full year.GAAP earnings per share (EPS) decreased 11% from $3.36 to $3.00 in the fourth quarter driven by increased other expense, partially offset by lower weighted-average shares outstanding in Q4 2022. For the full year, GAAP EPS increased 18% from $10.28 to $12.11, primarily driven by the write-off of $1.5 billion in Acquired In-Process Research & Development (Acquired IPR&D) associated with our acquisition of Five Prime Therapeutics in 2021.For the fourth quarter, GAAP operating income decreased from $2.3 billion to $2.2 billion, and GAAP operating margin decreased 2.7 percentage points to 34.0%. For the full year, GAAP operating income increased from $7.6 billion to $9.6 billion, and GAAP operating margin increased 7.2 percentage points to 38.6%.Non-GAAP EPS decreased 7% from $4.40 to $4.09 in the fourth quarter, driven by increased other expense, partially offset by lower weighted-average shares outstanding in Q4 2022. For the full year, non-GAAP EPS increased 27% from $13.92 to $17.69 driven by the write-off of $1.5 billion in Acquired IPR&D associated with our acquisition of Five Prime Therapeutics in 2021 and lower weighted-average shares outstanding in 2022.For the fourth quarter, non-GAAP operating income remained unchanged at $3.0 billion, and non-GAAP operating margin decreased 1.9 percentage points to 45.9%. For the full year, non-GAAP operating income increased from $10.5 billion to $12.8 billion, and non-GAAP operating margin increased 8.2 percentage points to 51.5%.The Company generated $8.8 billion of free cash flow for the full year versus $8.4 billion in 2021.Non-GAAP Financial MeasuresIn this news release, management has presented its operating results for the fourth quarters and full years of 2022 and 2021, in accordance with U.S. Generally Accepted Accounting Principles (GAAP) and on a non-GAAP basis. In addition, management has presented its full year 2023 EPS and tax guidance in accordance with GAAP and on a non-GAAP basis. These non-GAAP financial measures are computed by excluding certain items related to acquisitions, divestitures, restructuring and certain other items from the related GAAP financial measures. Beginning January 1, 2022, following industry guidance from the U.S. Securities and Exchange Commission, the Company no longer excludes adjustments for upfront license fees, development milestones and IPR&D expenses of pre-approval programs related to licensing, collaboration and asset acquisition transactions from its non-GAAP financial measures. For purposes of comparability, the non-GAAP financial results for the fourth quarter and full year of 2021 have been updated to reflect this change. Reconciliations for these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the news release. Management has presented Free Cash Flow (FCF), which is a non-GAAP financial measure, for the fourth quarters and full years of 2022 and 2021. FCF is computed by subtracting capital expenditures from operating cash flow, each as determined in accordance with GAAP. Management has presented Total Revenues and Product Sales Adjusted for Foreign Currency Exchange Rate Impact, which is a non-GAAP financial measure, for the fourth quarter and full year of 2022. Total Revenues and Product Sales Adjusted for Foreign Currency Exchange Rate Impact is computed by converting our current period local currency product sales using the prior period foreign currency exchange rates and comparing that to our current period product sales. Management has also presented Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and debt leverage ratio for 2022, both of which are non-GAAP financial measures. EBITDA is computed by adding interest expense, provision for income taxes, and depreciation and amortization expense to GAAP net income. Debt leverage ratio is calculated as the ratio of GAAP total debt to EBITDA.The Company believes that its presentation of non-GAAP financial measures provides useful supplementary information to and facilitates additional analysis by investors. The Company uses certain non-GAAP financial measures to enhance an investor's overall understanding of the financial performance and prospects for the future of the Company's ongoing business activities by facilitating comparisons of results of ongoing business operations among current, past and future periods. The Company believes that FCF provides a further measure of the Company's liquidity. The Company believes Total Revenues and Product Sales Adjusted for Foreign Currency Exchange Rate Impact provides supplementary information on the Company's product sales performance by excluding changes in foreign currency exchange rates between comparative periods. The Company believes its debt leverage ratio provides an important ongoing operating metric as it compares the amount of cash generated by our operations during a given period relative to our debt obligations outstanding for the same period.The Company uses the non-GAAP financial measures set forth in the news release in connection with its own budgeting and financial planning internally to evaluate the performance of the business, including to allocate resources and to evaluate results relative to incentive compensation targets. The non-GAAP financial measures are in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.About AmgenAmgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the 'World's Best Employers' by Forbes and one of 'America's 100 Most Sustainable Companies' by Barron's.Forward-Looking StatementsThis news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd., Kyowa-Kirin Co., Ltd., or any collaboration to manufacture therapeutic antibodies against COVID-19), the performance of Otezla (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), the Five Prime Therapeutics, Inc. acquisition, the Teneobio, Inc. acquisition, the ChemoCentryx, Inc. acquisition, or the proposed acquisition of Horizon Therapeutics plc, as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic on our business, outcomes, progress, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. We or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. A breakdown, cyberattack or information security breach of our information technology systems could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our environmental, social and governance objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.Contact:Tel: 805-447-1060(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMGN/2023.02.01/Amjevita first biosimilar to humira, now available in the united states.txt b/news/AMGN/2023.02.01/Amjevita first biosimilar to humira, now available in the united states.txt new file mode 100644 index 0000000000000000000000000000000000000000..40f175ef4d03484310f3945046e65663ddca7b93 --- /dev/null +++ b/news/AMGN/2023.02.01/Amjevita first biosimilar to humira, now available in the united states.txt @@ -0,0 +1 @@ +Amgen (NASDAQ: AMGN) today announced AMJEVITA (adalimumab-atto), a biosimilar to Humira (adalimumab), is now available in the United States.AMJEVITA was the first biosimilar to Humira approved by the U.S. Food and Drug Administration (FDA), in 2016.2,3With today's announcement, AMJEVITA is the first U.S. biosimilar to Humira, a medicine used by more than a million patients living with certain serious inflammatory diseases,' said Murdo Gordon, executive vice president of Global Commercial Operations at Amgen. 'With our track record of developing and manufacturing biologics and decades of experience in inflammation, Amgen is uniquely equipped to supply this biosimilar medicine while reducing costs.'Biosimilars are extensively studied, FDA-approved treatments that have the potential to reduce costs to the healthcare system,' said Steven Taylor, president and chief executive officer at the Arthritis Foundation. 'AMJEVITA provides another treatment option for patients and their doctors.'AMJEVITA (40 mg) is available at a list price (Wholesale Acquisition Cost) 55% below the current Humira list price. AMJEVITA is also available at a list price 5% below the current Humira list price. Amgen's goal is to provide broad access for patients by offering two options to health plans and pharmacy benefit managers. More information on Amgen's approach to responsible pricing is on the company's website.Like Humira's citrate-free formulation that is associated with less pain at the injection site, AMJEVITA is citrate-free.2,4 AMJEVITA will be available in prefilled syringe and autoinjector presentations to support dosing in each of the approved indications. Amgen offers patient support, such as financial support information and educational resources, through AMJEVITA SupportPlus.Amgen currently has 11 biosimilar medicines in market or under development. Five are FDA-approved in the U.S. and three are approved in the European Union.About AMJEVITA (adalimumab-atto)AMJEVITA is a biosimilar to Humira (adalimumab), an anti-TNF monoclonal antibody. The active ingredient of AMJEVITA is an anti-TNF monoclonal antibody that has the same amino acid sequence as Humira. AMJEVITA is approved to treat seven inflammatory diseases including moderate-to-severe rheumatoid arthritis in adults, moderate-to-severe polyarticular juvenile idiopathic arthritis in patients 2 years of age and older, psoriatic arthritis in adults, ankylosing spondylitis in adults, moderate-to-severe chronic plaque psoriasis in adults, moderate-to-severe Crohn's disease in adults and pediatric patients 6 years of age and older and moderate-to-severe ulcerative colitis in adults.2 AMJEVITA outside the U.S. is marketed as AMGEVITA (adalimumab) and has been prescribed to more than 300,000 patients in over 60 countries.Humira is a registered trademark of AbbVie, Inc.About AmgenAmgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the 'World's Best Employers' by Forbes and one of 'America's 100 Most Sustainable Companies' by Barron's.Amgen Forward-Looking StatementsThis news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd., Kyowa-Kirin Co., Ltd., or any collaboration to manufacture therapeutic antibodies against COVID-19), the performance of Otezla (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), the Five Prime Therapeutics, Inc. acquisition, the Teneobio, Inc. acquisition, the ChemoCentryx, Inc. acquisition, or the proposed acquisition of Horizon Therapeutics plc, as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic on our business, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, preclinical results do not guarantee safe and effective performance of product candidates in humans. The complexity of the human body cannot be perfectly, or sometimes, even adequately modeled by computer or cell culture systems or animal models. The length of time that it takes for us to complete clinical trials and obtain regulatory approval for product marketing has in the past varied and we expect similar variability in the future. Even when clinical trials are successful, regulatory authorities may question the sufficiency for approval of the trial endpoints we have selected. We develop product candidates internally and through licensing collaborations, partnerships and joint ventures. Product candidates that are derived from relationships may be subject to disputes between the parties or may prove to be not as effective or as safe as we may have believed at the time of entering into such relationship. Also, we or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market.Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. A breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our environmental, social and governance objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.Contact:Tel: 805-447-1060(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMGN/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt b/news/AMGN/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..4d971c2fd50c98f9986744551e5f5b1613fdce60 --- /dev/null +++ b/news/AMGN/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt @@ -0,0 +1 @@ +The Fed is widely seen as raising its target interest rate by a quarter of a percentage point in its first policy meeting of the year, after the rapid increases in 2022 to tame decades-high inflation.Investors will also likely parse Chair Jerome Powell news conference for clues on the trajectory of future rate hikes.Money markets are betting on one more 25 basis point (bps) hike in March, and a terminal rate of 4.9% in June. "A rise by 25 bps is likely to be interpreted as a more cautious move... officials will hope that the central bank's aggressive tightening slows economic activity and wage growth without causing a recessionary spike in the unemployment rate," said Richard Flynn, UK managing director at Charles Schwab.Recent readings have indicated that inflation is easing, with the Fed also looking at data which will determine the resilience of the labor market and the pace of wage growth.The ADP National Employment report, due at 0815 a.m. ET, is expected to show that private payrolls increased in January by 178,000, which is less than the 235,000 rise in the previous month, as per a Reuters poll. The survey will be seen as a precursor to the Labor Department's more comprehensive reading on nonfarm payrolls for January on Friday. On Tuesday, Wall Street indexes reversed declines and rallied when the Fed's preferred wages gauge, the U.S. Employment Cost index, showed its smallest increase in a year during the fourth quarter.Halfway into the busiest week of earnings season, videogame publisher Electronic Arts Inc slumped 10.1% in premarket trading on lowering its annual bookings forecast.Snap Inc tumbled 15% after the social media company said it expects current-quarter revenue to decline by as much as 10%. Other social media and internet firms like Meta Platforms Inc, Alphabet Inc and Pinterest were flat to 0.7% lower. Facebook parent Meta is expected to report quarterly results after the bell.Bucking the recent nervousness among chipmakers, Advanced Micro Devices Inc added 3.4% after projecting that it expects its business to improve in the second half of the year, boosting hopes that it is gaining on rival Intel Corp. Intel shares dipped 0.1%. At 7:25 a.m. ET, Dow e-minis were down 122 points, or 0.36%, S&P 500 e-minis were down 7.25 points, or 0.18%, and Nasdaq 100 e-minis were up 7.5 points, or 0.06%. Dow Jones Industrial Average component Amgen Inc fell 1.1% as the drugmaker said its fourth-quarter revenue fell slightly. As of Tuesday, quarterly earnings of S&P 500 firms are expected to decline 2.4%, improving from 3% decline in the previous session as per Refinitiv. (Reporting by Johann M Cherian and Shreyashi Sanyal in Bengaluru; Additional reporting by Sruthi Shankar; Editing by Sriraj Kalluvila)By Johann M Cherian \ No newline at end of file diff --git a/news/AMGN/2023.02.01/Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap... .txt b/news/AMGN/2023.02.01/Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap... .txt new file mode 100644 index 0000000000000000000000000000000000000000..94c1062d217e3295cb76267f64d928b4fd2096a2 --- /dev/null +++ b/news/AMGN/2023.02.01/Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap... .txt @@ -0,0 +1,29 @@ + +  +  +Corporate news: + +Advanced Micro Devices: the stock gains 1.4% after better-than-expected Q4 results. +Amgen: Q4 results are quite good, but the stock is not moving much after the session. +Electronic Arts: the video game publisher misses the quarterly consensus, causing the stock to drop more than 10% in after-hours trading. +GSK: reports fourth-quarter profit and revenue above estimates. +Novartis: Full-year revenue below expectations but profitability beats consensus. +Novo Nordisk: expects sales growth between 13% and 19% in 2023. +PayPal to cut nearly 7% of its global workforce. +Snap: stock loses 15% in after-hours trading after announcing a net loss in the fourth quarter and pessimistic forecasts +Software AG: the group is targeting a lower than expected operating margin in 2023. +Vale: the Brazilian mining giant's Q4 production came in below expectations. +T-Mobile US and Meta Platforms are expected to release their quarterly results after the close. + +  +In other news: + +The rout of Adani Enterprises and its subsidiaries continues in Mumbai, after attacks by short seller Hindenburg. +Contemporary Amperex Technology may launch a secondary listing in Zurich. +Credit Suisse is considering transferring its private equity business to the First Boston spin-off. +BMW raises prices on some models in China due to rising costs. +After poor performance, Intel is cutting executive pay. +Tesla is reportedly looking to build an assembly plant near the new Mexico City airport. +Short seller Quintessential Capital Management pins Darktrace. + +Today's main earnings reports: Meta Platforms, Alibaba, Novo Nordisk, Costco Wholesale, Thermo Fisher, T-Mobile, Novartis, Keyence, Glencore, GSK, Vodafone, BBVA, Orsted... All the agenda is here. diff --git a/news/AMGN/2023.02.01/Wall St falls as Fed decision looms; AMD boosts chipmakers.txt b/news/AMGN/2023.02.01/Wall St falls as Fed decision looms; AMD boosts chipmakers.txt new file mode 100644 index 0000000000000000000000000000000000000000..33bc8bed16cfe5038070f37e6d43e2cd7590f998 --- /dev/null +++ b/news/AMGN/2023.02.01/Wall St falls as Fed decision looms; AMD boosts chipmakers.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Fed's rate decision expected at 1400 ET*AMD expects strong second half of 2023*Amgen weighs on Dow as Q4 revenue falls slightly*EA cuts bookings view, shares slide*Indexes down: Dow 1.12%, S&P 0.63%, Nasdaq 0.44%Feb 1 (Reuters) - U.S. stock indexes fell on Wednesday +ahead of the Federal Reserve's decision on interest rates later +in the day, while an upbeat outlook from Advanced Micro Devices +lifted chipmakers.The Fed is widely seen as raising its target interest rate +by a quarter of a percentage point in its first policy meeting +of the year, after rapid increases in 2022 to tame decades-high +inflation.Money markets are betting on one more 25 basis point (bps) +hike in March, and a terminal rate of 4.9% in June."It's really boiling down to a longer term outlook +beyond this policy meeting and where this peak terminal rate +with Fed funds is going to be," Adam Turnquist, chief technical +strategist at LPL Financial.Recent readings have indicated that inflation is easing, +with the Fed also looking at data that will determine the +resilience of the labor market and the pace of wage growth.Meanwhile, data showed U.S. job openings unexpectedly rose +in December ahead of the Labor Department's comprehensive report +on nonfarm payrolls for January due on Friday.Separately, data showed U.S. manufacturing contracted +further in January as higher interest rates stifled demand for +goods."It's going to come down to the narrow line between +avoiding a recession and entering a recession. That's the Fed's +issue as they finish up their two-day policy meeting today," +Turnquist added.All three indexes had a strong start to the year, with +the S&P and the Dow witnessing their first gain +for January since 2019 as investors returned to markets, which +were bruised in the previous year by a hawkish Fed.Advanced Micro Devices Inc added 8.0% as the +semiconductor maker said it expects its business to improve in +the second half of the year, propping the Philadelphia SE +Semiconductor index, which climbed 1.8%.All of the 11 major sectors on the S&P 500 were down, with +technology shares falling the least.Snap Inc tumbled 14.2% after the social media +company said it expects current-quarter revenue to decline by as +much as 10%.Facebook parent Meta Platforms Inc dipped 0.1% +ahead of reporting fourth-quarter results after the bell.At 12:21 p.m. ET, the Dow Jones Industrial Average +was down 381.36 points, or 1.12%, at 33,704.68, the S&P +500 was down 25.69 points, or 0.63%, at 4,050.91, and the +Nasdaq Composite was down 51.42 points, or 0.44%, at +11,533.13.Dow component Amgen Inc dropped 4.8% as the +drugmaker said its fourth-quarter revenue fell slightly, while +videogame publisher Electronic Arts Inc slumped 12.0% on +lowering its annual bookings forecast.Seventy percent of the 200 companies in the S&P 500 that +have reported fourth-quarter earnings have topped Wall Street +expectations. Analysts now see earnings of S&P 500 firms +declining 2.4% for the quarter, per Refinitiv estimates.Declining issues outnumbered advancers for a 1.48-to-1 +ratio on the NYSE and for a 1.13-to-1 ratio on the Nasdaq.The S&P index recorded 13 new 52-week highs and no new low, +while the Nasdaq recorded 75 new highs and 21 new lows.(Reporting by Johann M Cherian and Shreyashi Sanyal in +Bengaluru; Additional reporting by Ankika Biswas; Editing by +Sriraj Kalluvila and Maju Samuel) \ No newline at end of file diff --git "a/news/AMGN/2023.02.02/Amgen Launches AMJEVITA\342\200\224First Biosimilar To HUMIRA In The United States.txt" "b/news/AMGN/2023.02.02/Amgen Launches AMJEVITA\342\200\224First Biosimilar To HUMIRA In The United States.txt" new file mode 100644 index 0000000000000000000000000000000000000000..ac362cf5f96d626589f0aa60a974c41d79477e44 --- /dev/null +++ "b/news/AMGN/2023.02.02/Amgen Launches AMJEVITA\342\200\224First Biosimilar To HUMIRA In The United States.txt" @@ -0,0 +1,11 @@ +Amgen announced today the launch of AMJEVITA (adalimumab-atto), a biosimilar to AbbVie's HUMIRA (adalimumab), in the United States. AMJEVITA was the first HUMIRA biosimilar approved by the FDA and is now the first to be launched in the United States. AMJEVITA is approved to treat seven inflammatory diseases, including moderate-to-severe rheumatoid arthritis in adults, moderate-to-severe polyarticular juvenile idiopathic arthritis in patients 2 years of age and older, psoriatic arthritis in adults, ankylosing spondylitis in adults, moderate-to-severe chronic plaque psoriasis in adults, moderate-to-severe Crohn's disease in adults and pediatric patients 6 years of age and older and moderate-to-severe ulcerative colitis in adults.According to the press release, "AMJEVITA (40 mg) is available at a list price (Wholesale Acquisition Cost) 55% below the current Humira list price. AMJEVITA is also available at a list price 5% below the current Humira list price."As we reported previously, Amgen and AbbVie settled their BPCIA litigation regarding AMJEVITA back in 2017. In connection with the settlement, Amgen said that AbbVie would grant patent licenses for the use and sale of AMJEVITA worldwide, with Amgen's expected launch in the United States being today, January 31, 2023.Amgen stated that it currently has 11 biosimilars either on the marker or under development, with five FDA-approved in the United States and three approved in the European Union.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Christopher Cassella +Goodwin Procter LLP +1900 N Street NW +Washington +DC 20036 +UNITED STATES +Tel: 212813 8800 +E-mail: rmertz@goodwinlaw.com +URL: www.goodwinlaw.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AMGN/2023.02.02/AstraZeneca's, Amgen's Tezspire pre-filled pen wins approval.txt b/news/AMGN/2023.02.02/AstraZeneca's, Amgen's Tezspire pre-filled pen wins approval.txt new file mode 100644 index 0000000000000000000000000000000000000000..18f487e88d9f4da4769eaff86869ca5c7e457363 --- /dev/null +++ b/news/AMGN/2023.02.02/AstraZeneca's, Amgen's Tezspire pre-filled pen wins approval.txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC and Amgen Inc on Thursday said their severe asthma drug Tezspire has been approved in the form of a pre-filled pen by the US Food & Drug Administration for self-administration for people aged 12 and over.Cambridge, England-based pharmaceutical company AstraZeneca and California-based biotechnology company Amgen said Tezspire is the "first and only respiratory biologic without phenotype or biomarker limitations that offers the choice of administration at home or in a doctor's office." Biologics are drugs that slow or stop inflammation. The companies cite a phase III trial that showed that 92% of healthcare providers, patients and caregivers were able to successfully inject Tezspire in a clinical and a home setting. Kenneth Mendez, President & Chief Executive Officer of the Asthma & Allergy Foundation of America, said: "Severe asthma continues to be a very complex condition to manage, so we welcome the Tezspire pre-filled pen as an option that will empower patients and healthcare providers with increased choice. We believe self-administration alternatives can play an important role in patients' lives and address unmet needs for those living with severe asthma."AstraZeneca shares were virtually unchanged at 10,284.00 pence each in London on Thursday afternoon, while Amgen shares were down 4.0% at USD236.64 in New York.By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git "a/news/AMGN/2023.02.02/Tezspire\302\256 approved for self-administration in the u.s. with a new pre-filled pen.txt" "b/news/AMGN/2023.02.02/Tezspire\302\256 approved for self-administration in the u.s. with a new pre-filled pen.txt" new file mode 100644 index 0000000000000000000000000000000000000000..176b077fb5e06ee5c370de999138873d62c48817 --- /dev/null +++ "b/news/AMGN/2023.02.02/Tezspire\302\256 approved for self-administration in the u.s. with a new pre-filled pen.txt" @@ -0,0 +1,46 @@ + + +Now Offers Patients the Choice of Administration at Home or in a Doctor's Office +THOUSAND OAKS, Calif., Feb. 2, 2023 /PRNewswire/ -- Amgen (NASDAQ:AMGN) and AstraZeneca today announced the U.S. Food and Drug Administration (FDA) has approved TEZSPIRE® (tezepelumab-ekko) for self-administration in a pre-filled, single-use pen for patients aged 12 years and older with severe asthma.1 First approved by the FDA in December 2021, TEZSPIRE is the only biologic approved for severe asthma with no phenotype (e.g., eosinophilic or allergic) or biomarker limitation within its approved label.2-9 +"People with severe asthma will now have the flexibility to administer TEZSPIRE at home or continue to receive their medicine in their doctor's office," said Murdo Gordon, executive vice president of Global Commercial Operations at Amgen. "This approval reinforces our continued efforts to improve accessibility to TEZSPIRE, a first-in-class medicine proven to consistently and significantly reduce exacerbations across a broad population of people with severe asthma." +The approval by the FDA was based on results from the PATHFINDER clinical trial program, which included results from the PATH-BRIDGE Phase 1 trial and the PATH-HOME trial Phase 3 trial.10 The majority (92%) of healthcare providers, patients and caregivers were able to successfully administer TEZSPIRE both in the clinic and at home throughout the PATH-HOME trial. The improvements in asthma control and the safety profile of TEZSPIRE observed in the PATH-HOME trial were consistent with previous clinical trials.10 +"Severe asthma continues to be a very complex condition to manage, so we welcome the TEZSPIRE pre-filled pen as an option that will empower patients and healthcare providers with increased choice," said Kenneth Mendez, president and chief executive officer of the Asthma and Allergy Foundation of America. "We believe self-administration alternatives can play an important role in patients' lives and address unmet needs for those living with severe asthma." +The most common adverse reactions (incidence ≥3% and more common than placebo) of TEZSPIRE are pharyngitis, arthralgia, and back pain.1 +TEZSPIRE self-administration and the TEZSPIRE pre-filled pen are also approved in the European Union (EU) and are under regulatory review in several other countries around the world. TEZSPIRE is currently approved for the treatment of severe asthma in the U.S., EU, Japan and other countries.  +TEZSPIRE® (tezepelumab-ekko) U.S. IndicationTEZSPIRE is indicated for the add-on maintenance treatment of adult and pediatric patients aged 12 years and older with severe asthma. +TEZSPIRE is not indicated for the relief of acute bronchospasm or status asthmaticus. +TEZSPIRE® (tezepelumab-ekko) Important Safety Information  +CONTRAINDICATIONSKnown hypersensitivity to tezepelumab-ekko or excipients. +WARNINGS AND PRECAUTIONS +Hypersensitivity ReactionsHypersensitivity reactions were observed in the clinical trials (e.g., rash and allergic conjunctivitis) following the administration of TEZSPIRE. Postmarketing cases of anaphylaxis have been reported. These reactions can occur within hours of administration, but in some instances have a delayed onset (i.e., days). In the event of a hypersensitivity reaction, consider the benefits and risks for the individual patient to determine whether to continue or discontinue treatment with TEZSPIRE. +Acute Asthma Symptoms or Deteriorating DiseaseTEZSPIRE should not be used to treat acute asthma symptoms, acute exacerbations, acute bronchospasm, or status asthmaticus. +Abrupt Reduction of Corticosteroid DosageDo not discontinue systemic or inhaled corticosteroids abruptly upon initiation of therapy with TEZSPIRE. Reductions in corticosteroid dose, if appropriate, should be gradual and performed under the direct supervision of a physician. Reduction in corticosteroid dose may be associated with systemic withdrawal symptoms and/or unmask conditions previously suppressed by systemic corticosteroid therapy. +Parasitic (Helminth) InfectionIt is unknown if TEZSPIRE will influence a patient's response against helminth infections. Treat patients with pre-existing helminth infections before initiating therapy with TEZSPIRE. If patients become infected while receiving TEZSPIRE and do not respond to anti-helminth treatment, discontinue TEZSPIRE until infection resolves. +Live Attenuated VaccinesThe concomitant use of TEZSPIRE and live attenuated vaccines has not been evaluated. The use of live attenuated vaccines should be avoided in patients receiving TEZSPIRE.  +ADVERSE REACTIONSThe most common adverse reactions (incidence ≥3%) are pharyngitis, arthralgia, and back pain.  +USE IN SPECIFIC POPULATIONSThere are no available data on TEZSPIRE use in pregnant women to evaluate for any drug-associated risk of major birth defects, miscarriage, or other adverse maternal or fetal outcomes. Placental transfer of monoclonal antibodies such as Tezepelumab-ekko is greater during the third trimester of pregnancy; therefore, potential effects on a fetus are likely to be greater during the third trimester of pregnancy. +Please see the full Prescribing Information including Patient Information and Instructions for Use. +You may report side effects related to AstraZeneca products by clicking here. +About TEZSPIRE® (tezepelumab-ekko)TEZSPIRE is a first-in-class human monoclonal antibody that works on the primary source of inflammation: the airway epithelium, which is the first point of contact for viruses, allergens, pollutants and other environmental insults. Specifically, TEZSPIRE targets and blocks TSLP, a key epithelial cytokine that sits at the top of multiple inflammatory cascades and initiates an overreactive immune response to allergic, eosinophilic and other types of airway inflammation associated with severe asthma.11,12 TSLP is released in response to multiple triggers associated with asthma exacerbations, including allergens, viruses and other airborne particles.11,12 +Expression of TSLP is increased in the airways of patients with asthma and has been correlated with disease severity.11,13 Blocking TSLP may prevent the release of pro-inflammatory cytokines by immune cells, resulting in the prevention of asthma exacerbations and improved asthma control.11,13 By working at the top of the cascade, TEZSPIRE helps stop inflammation at the source and has the potential to treat a broad population of severe asthma patients.11,13  +TEZSPIRE is also in development for other potential indications including chronic obstructive pulmonary disease, chronic rhinosinusitis with nasal polyps, chronic spontaneous urticaria and eosinophilic esophagitis (EoE). In October 2021, tezepelumab was granted Orphan Drug Designation by the FDA for the treatment of EoE. +About Severe AsthmaGlobally, there are approximately 2.5 million patients with severe asthma who are uncontrolled or biologic eligible, with approximately 1.3 million in the U.S. Many patients with severe asthma have an inadequate response to currently available biologics and oral corticosteroids and thus fail to achieve asthma control.14-19 Uncontrolled asthma occurs when symptoms persist despite treatment. Severe, uncontrolled asthma is debilitating with patients experiencing frequent exacerbations, significant limitations on lung function and a reduced quality of life.15-17 Patients with severe uncontrolled asthma have twice the risk of asthma-related hospitalizations.20,21 There is also a significant socio-economic burden with these severe uncontrolled asthma patients accounting for 50% of asthma-related costs.22 +Multiple inflammatory pathways are involved in the pathogenesis of asthma.22-24 Eosinophilic asthma, and more broadly, T2 inflammation-driven asthma, accounts for about two-thirds of patients with severe asthma.24 These patients are typically characterized as having elevated levels of inflammatory biomarkers, including blood eosinophils, serum IgE and FeNO.25,26 However, many patients do not fit the criteria for eosinophilic or allergic asthma, may have unclear or multiple drivers of inflammation, and may not qualify for or respond well to a current biologic medicine.26 +About the Amgen and AstraZeneca CollaborationIn 2020, Amgen and AstraZeneca updated the 2012 collaboration agreement for TEZSPIRE. Both companies will continue to share costs and profits equally after payment by AstraZeneca of a mid-single-digit royalty to Amgen. AstraZeneca continues to lead development and Amgen continues to lead manufacturing. All aspects of the collaboration are under the oversight of joint governing bodies. Under the amended agreement, Amgen and AstraZeneca will jointly commercialize TEZSPIRE in North America. Amgen will record product sales in the U.S., with AstraZeneca recording its share of U.S. profits as Collaboration Revenue. Outside of the U.S., AstraZeneca will record product sales, with Amgen recording profit share as Other/Collaboration revenue. +About Amgen Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.  +Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.  +Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the "World's Best Employers" by Forbes and one of "America's 100 Most Sustainable Companies" by Barron's. +For more information, visit Amgen.com and follow us on Twitter, LinkedIn, Instagram, TikTok and YouTube. +Amgen Forward-Looking StatementsThis news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd., Kyowa Kirin Co., Ltd., or any collaboration to manufacture therapeutic antibodies against COVID-19), the performance of Otezla® (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), the Five Prime Therapeutics, Inc. acquisition, the Teneobio, Inc. acquisition, the ChemoCentryx, Inc. acquisition, or the proposed acquisition of Horizon Therapeutics plc, as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic on Amgen's business, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including its most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. +No forward-looking statement can be guaranteed and actual results may differ materially from those Amgen projects. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, preclinical results do not guarantee safe and effective performance of product candidates in humans. The complexity of the human body cannot be perfectly, or sometimes, even adequately modeled by computer or cell culture systems or animal models. The length of time that it takes for Amgen to complete clinical trials and obtain regulatory approval for product marketing has in the past varied and Amgen expects similar variability in the future. Even when clinical trials are successful, regulatory authorities may question the sufficiency for approval of the trial endpoints Amgen has selected. Amgen develops product candidates internally and through licensing collaborations, partnerships and joint ventures. Product candidates that are derived from relationships may be subject to disputes between the parties or may prove to be not as effective or as safe as Amgen may have believed at the time of entering into such relationship. Also, Amgen or others could identify safety, side effects or manufacturing problems with its products, including its devices, after they are on the market. +Amgen's results may be affected by its ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing its products and global economic conditions. In addition, sales of Amgen's products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, Amgen's research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. Amgen's business may be impacted by government investigations, litigation and product liability claims. In addition, Amgen's business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If Amgen fails to meet the compliance obligations in the corporate integrity agreement between Amgen and the U.S. government, Amgen could become subject to significant sanctions. Further, while Amgen routinely obtains patents for its products and technology, the protection offered by its patents and patent applications may be challenged, invalidated or circumvented by its competitors, or Amgen may fail to prevail in present and future intellectual property litigation. Amgen performs a substantial amount of its commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depends on third parties for a portion of its manufacturing activities, and limits on supply may constrain sales of certain of its current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for Amgen's manufacturing activities, the distribution of Amgen's products, the commercialization of Amgen's product candidates, and Amgen's clinical trial operations, and any such events may have a material adverse effect on Amgen's product development, product sales, business and results of operations. Amgen relies on collaborations with third parties for the development of some of its product candidates and for the commercialization and sales of some of its commercial products. In addition, Amgen competes with other companies with respect to many of its marketed products as well as for the discovery and development of new products. Further, some raw materials, medical devices and component parts for Amgen's products are supplied by sole third-party suppliers. Certain of Amgen's distributors, customers and payers have substantial purchasing leverage in their dealings with Amgen. The discovery of significant problems with a product similar to one of Amgen's products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on its business and results of operations. Amgen's efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology Amgen has acquired, may not be successful. A breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of Amgen's systems and Amgen's data. Amgen's stock price may be volatile and may be affected by a number of events. Amgen's business and operations may be negatively affected by the failure, or perceived failure, of achieving its environmental, social and governance objectives. The effects of global climate change and related natural disasters could negatively affect Amgen's business and operations. Global economic conditions may magnify certain risks that affect Amgen's business. Amgen's business performance could affect or limit the ability of the Amgen Board of Directors to declare a dividend or its ability to pay a dividend or repurchase its common stock. Amgen may not be able to access the capital and credit markets on terms that are favorable to it, or at all. +CONTACT: Amgen, Thousand Oaks Michael Strapazon, 805-313-5553 (media) Jessica Akopyan, 805-440-5721 (media) Arvind Sood, 805-447-1060 (investors)  +References +TEZSPIRE U.S. Prescribing Information. February 2023.Hanania NA, et al. Omalizumab in severe allergic asthma inadequately controlled with standard therapy: a randomized trial. Ann Intern Med. 2011;154 (9): 573-82.Yancey SW, et al. Disease burden and efficacy of mepolizumab in patients with severe asthma and blood eosinophil counts of ≥150-300 cells/μL. Respir Med. 2019; 151: 139-141.FitzGerald JM, et al. Predictors of enhanced response with benralizumab for patients with severe asthma: pooled analysis of the SIROCCO and CALIMA studies. Lancet Respir Med. 2018; 6 (1): 51-64.Castro M, et al. Dupilumab Efficacy and Safety in Moderate-to-Severe Uncontrolled Asthma. N Engl J Med. 2018; 378 (26): 2486-2496.Ortega HG, et al; on behalf of the MENSA Investigators. Mepolizumab treatment in patients with severe eosinophilic asthma. N Engl J Med. 2014;371(13):1198-207.Bleecker ER, et al, on behalf of the SIROCCO study investigators. Efficacy and safety of benralizumab for patients with severe asthma uncontrolled with high-dosage inhaled corticosteroids and long-acting beta2-agonists (SIROCCO): a randomised, multicentre, placebo-controlled phase 3 trial. Lancet 2016: 388 (10056): 2115-2127.FitzGerald JM, et al, on behalf of the CALIMA study investigators. Benralizumab, an anti-interleukin-5 receptor alpha monoclonal antibody, as add-on treatment for patients with severe, uncontrolled, eosinophilic asthma (CALIMA): a randomised, double-blind, placebo-controlled phase 3 trial. Lancet. 2016: 388(10056): 2128-2141.Wenzel S, et al. Dupilumab efficacy and safety in adults with uncontrolled persistent asthma despite use of medium-to-high-dose inhaled corticosteroids plus a long-acting β2 agonist: a randomised double-blind placebo-controlled pivotal phase 2b dose-ranging trial. Lancet. 2016 Jul 2;388(10039):31-44Alpizar, Sady et al. "Functionality and Performance of an Accessorized Pre-Filled Syringe and an Autoinjector for At-Home Administration of Tezepelumab in Patients with Severe, Uncontrolled Asthma." Journal of asthma and allergy vol. 14 381-392. 19 Apr. 2021, doi:10.2147/JAA.S305114Menzies-Gow A, et al. Tezepelumab in Adults and Adolescents with Severe, Uncontrolled Asthma. N Engl J Med. 2021;384:1800-1809. DOI: 10.1056/NEJMoa2034975.Varricchi G, et al. Thymic Stromal Lymphopoietin Isoforms, Inflammatory Disorders, and Cancer. Front Immunol. 2018; 9: 1595.Li Y, et al. Elevated Expression of IL-33 and TSLP in the Airways of Human Asthmatics In Vivo: A Potential Biomarker of Severe Refractory Disease. J Immunol. 2018; 200: 2253–2262.Centers for Disease Control and Prevention. Most Recent National Asthma Data. Available at: https://www.cdc.gov/asthma/most_recent_national_asthma_data.htm. Accessed December 2022Wenzel S. Severe Asthma in Adults. Am J Respir Crit Care Med. 2005;172;149–60.Chung KF, et al. International ERS/ATS guidelines on definition, evaluation and treatment of severe asthma. Eur Respir J. 2014; 43: 343–73.Kupczyk M, Wenzel S. U.S. and European severe asthma cohorts: what can they teach us about severe asthma? J Intern Med 2012;272:121–32.Chastek et al. J Manag Care Spec Pharm 2016;22:848-861.Chen et al. Curr Med Res Opin 2018;34(12):2075-2088.Price D, Fletcher M, van der Molen T. Asthma control and management in 8,000 European patients: the Recognise Asthma and Link to Symptoms and Experience (REALISE) survey. NPJ Prim Care Respir Med. 2014; 12; 24: 14009.World Allergy Organization (WAO). The management of severe asthma: economic analysis of the cost of treatments for severe asthma. Available at: https://www.worldallergy.org/educational_programs/world_allergy_forum/anaheim2005/blaiss.php [Last accessed: December 2022].Rabe KF, Busse W, Pavord I, Castro M. Raising the clinical bar beyond current biologics in uncontrolled persistent asthma: translating emerging data in future clinical decisions. EMJ Allergy Immunol. 2018; 3: 60-9.Godar M, Blanchetot C, de Haard H, et al. Personalized medicine with biologics for severe type 2 asthma: current status and future prospects. MAbs. 2018; 10 (1): 34–45.Peters MC, Mekonnen ZK, Yuan S, et al. Measures of gene expression in sputum cells can identify TH2-high and TH2-low subtypes of asthma. J Allergy Clin Immunol. 2014; 133: 388–94.Clinicaltrials.gov. Study to Evaluate the Efficacy and Safety of Tezepelumab in Reducing Oral Corticosteroid Use in Adults With Oral Corticosteroid Dependent Asthma (SOURCE) [Online]. Available at: https://clinicaltrials.gov/ct2/show/NCT03406078. [Last accessed: December 2022].Fahy JV. Type 2 inflammation in asthma--present in most, absent in many. Nat Rev Immunol. 2015; 15: 57-65. +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/tezspire-approved-for-self-administration-in-the-us-with-a-new-pre-filled-pen-301736900.html +SOURCE Amgen + + diff --git "a/news/AMGN/2023.02.06/Describing \"Everything, Everywhere, All At Once\" For Genus Claims?.txt" "b/news/AMGN/2023.02.06/Describing \"Everything, Everywhere, All At Once\" For Genus Claims?.txt" new file mode 100644 index 0000000000000000000000000000000000000000..4a18af9896a4c83e30438678627d036530eb5cee --- /dev/null +++ "b/news/AMGN/2023.02.06/Describing \"Everything, Everywhere, All At Once\" For Genus Claims?.txt" @@ -0,0 +1,9 @@ +Key TakeawaysThe case of Juno Therapeutics, Inc. v. Kite Pharma, Inc.1 has captured the attention of the legal community and beyond, as it delves into the complex world of written description in patent law. The Supreme Court recently made a significant decision in Juno by denying certiorari on appeal from the Federal Circuit. On January 9, 2023, the Supreme Court denied Juno's petition for rehearing.Juno presented the question of whether a patent's written description for a genus claim must "demonstrate the inventor's 'possession' of 'the full scope of the claimed invention' including all 'known and unknown' variations of each component."2 Thus, this Federal Circuit decision has major implications for the technology industry and beyond.This denial of rehearing is significant because it may take written description off the table as the Supreme Court considers whether full scope enablement is required for genus claims in Amgen v. Sanofi.Brief Overview of JunoJuno Therapeutics and Sloan Kettering Institute for Cancer Research (together, "Juno") filed a petition for a writ of certiorari to the U.S. Supreme Court to seek review on a Federal Circuit decision that invalidated claims 3, 5, 9, and 11 of U.S. Patent No. 7,446,190 ("'190 Patent") for lack of written description.3The claims at issue in Juno were generally directed to a chimeric T-cell receptor ("CAR") comprising single chain antibodies ("scFv") that can recognize and interact with selected target antigens, including a protein called CD19, for cancer treatment purposes.4 The '190 Patent disclosed two scFvs, but it did not disclose their amino acid sequences.5Claims 3 and 9 were broadly directed to "all scFvs, as part of the claimed CAR, that bind to any target."6 The Federal Circuit found no written description support for these claims because the specification "disclose[d] only two scFv examples and provide[d] no details regarding the characteristics, sequences, or structures that would allow a person of ordinary skill in the art to determine which scFvs will bind to which target."7 As a result, the "patent provide[d] nothing to indicate that the inventors possessed the full scope of the genus that they chose to claim."8Claims 5 and 11 were limited to scFVs that can bind to CD19.9 However, as with claims 3 and 9, the Federal Circuit found no written description support, noting that "the realm of possible CD19-specific scFvs was vast and the number of known CD19-specific scFvs was small (five at most)," but the '190 Patent "provide[d] no details about which scFvs bind to CD19 in a way that distinguishes them from scFvs that do not bind to CD19."10On November 7, 2022, the Supreme Court denied Juno's petition for a writ of certiorari11-just three days after it had granted certiorari in Amgen v. Sanofi, which presented the question of whether full scope enablement was required.12 Juno filed a petition for rehearing on November 23, 2022, asserting that "the question the Court agreed to review in Amgen is closely 'related' to the question presented in [Juno]" and that the Court should either grant its instant petition or at least hold off on denying certiorari until after Amgen is resolved.13 The Court denied Juno's petition for rehearing.So, Where Does Juno Leave Us on Written Description?With the Supreme Court's denial of rehearing in Juno, we are left with the Federal Circuit's decision. But Juno does not hold that a specification must describe everything for genus claims to meet this requirement; rather, what the Federal Circuit seemed to take more issue with was the specification's failure to provide enough details of defining characteristics, common structural features, and shared traits that could be used to sufficiently identify what exactly the inventors were in possession of. As such, while Juno does not ask for everything, it does provide a cautionary tale against disclosing too little.Written description remains a very fact-intensive inquiry. There is no perfect number of examples that a specification must have to meet this requirement, and it can be important from a patent drafting perspective to continuously balance the pros and cons with including too much (e.g., costly and unrealistic) with including too little (e.g., may be invalidated later). As for litigators, the denial of rehearing ends the road for Juno, but the outlook for additional guidance on written description and what "full scope" really means in the context of Section 112 disputes remains strong as the Supreme Court continues to consider enablement in Amgen v. Sanofi.Footnotes1 Juno Therapeutics, Inc. v. Kite Pharma, Inc., 10 F.4th 1330, 1333-34 (Fed. Cir. 2021),cert. denied,143 S. Ct. 402 (2022),reh'g denied,No. 21-1566, 2023 WL 124509 (Jan. 9, 2023).2 Petition for Writ of Certiorari, Juno Therapeutics, Inc. v. Kite Pharma, Inc., No. 21-1566 (2022).3 Id.4 Juno Therapeutics, Inc. v. Kite Pharma, Inc., 10 F.4th 1330, 1333-34 (Fed. Cir. 2021),cert. denied,143 S. Ct. 402 (2022),reh'g denied,No. 21-1566, 2023 WL 124509 (Jan. 9, 2023).5 Id. at 1333.6 Id. at 1339.7 Id.8 Id. at 1337.9 Id. at 1340.10 Id. at 1342.11 143 S. Ct. 402 (2022).12 Amgen Inc. v. Sanofi, 143 S. Ct. 399 (2022) (limited grant to Question 2 presented by the Petition for Writ of Certiorari, which asks whether enablement must "enable those skilled in the art 'to reach the full scope of claimed embodiments' without undue experimentation - i.e., to cumulatively identify and make all or nearly all embodiments of the invention without substantial 'time and effort'" (emphasis in original).).13Petitioners' Petition for Rehearing at 2-3, Juno Therapeutics, Inc. v. Kite Pharma, Inc., No. 21-1566 (2022).The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Anne Elise Herold Li +Crowell & Moring +590 Madison Avenue +20th Floor +New York +NY 10022 +UNITED STATES +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AMGN/2023.02.09/AbbVie's 2023 profit forecast misses as Humira faces heat from rivals.txt b/news/AMGN/2023.02.09/AbbVie's 2023 profit forecast misses as Humira faces heat from rivals.txt new file mode 100644 index 0000000000000000000000000000000000000000..b0a360c83ebd2d15d81bcb1f0d1cc28dfb00c8f3 --- /dev/null +++ b/news/AMGN/2023.02.09/AbbVie's 2023 profit forecast misses as Humira faces heat from rivals.txt @@ -0,0 +1 @@ +The company said it expected adjusted profit in the range of $10.70 to $11.10 per share for the full year, compared with analysts' average estimate of $11.65, according to Refinitiv IBES data.AbbVie's weak forecast suggests that Humira rivals could nibble away at the blockbuster drug's market share at a faster pace this year than analysts' projections.Amgen Inc recently launched Amjevita, the first such competition for Humira in the U.S., at a 5% and 55% discount to the drug's monthly price of $6,922.At least seven other Humira biosimilars are expected this summer and could debut with discounted list prices.Sales of the drug, AbbVie's growth driver for years, could decline by as much as 50% once more rivals gain health insurance coverage.In the fourth quarter, Humira sales dropped 26.5% to $573 million in international markets such as Europe, where it already faces competition from multiple cheaper versions. Overall, Humira sales rose 4.6% to $5.58 billion, in line with estimates, lifted by growth in the U.S. market. In 2020, Abbvie sought to pre-empt the so-called "sales cliff" from Humira patent expiry through its $63-billion deal to buy Botox-maker Allergan. Botox sales for cosmetic applications were up 2.6% at $642 million in the last three months of 2020, beating estimates of $629 million. The drugmaker has also been hoping that newer immunology drugs Skyrizi and Rinvoq can help replace the lost revenue from Humira. Skyrizi sales of $1.58 billion beat estimates of $1.52 billion, while Rinvoq missed with $770 million in sales compared with expectations of $816.14 million.Excluding items, AbbVie earned $3.60 per share in the fourth quarter, beating analysts' average estimates of $3.56 per share. (Reporting by Mariam E Sunny and Leroy Leo in Bengaluru; Editing by Sriraj Kalluvila) \ No newline at end of file diff --git a/news/AMGN/2023.02.09/Amgen to present at the 2023 svb securities global biopharma conference.txt b/news/AMGN/2023.02.09/Amgen to present at the 2023 svb securities global biopharma conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..a34e1da065ea92ff4350d64ad6a84d40f5295188 --- /dev/null +++ b/news/AMGN/2023.02.09/Amgen to present at the 2023 svb securities global biopharma conference.txt @@ -0,0 +1,17 @@ + + +THOUSAND OAKS, Calif., Feb. 9, 2023 /PRNewswire/ -- Amgen (NASDAQ:AMGN) will present at the 2023 SVB Securities Global Biopharma Conference at 10:40 a.m. ET on Tuesday, February 14, 2023. Susan Sweeney, senior vice president, Global Marketing, Access and Capabilities at Amgen will present at the conference. The webcast will be broadcast over the internet simultaneously and will be available to members of the news media, investors and the general public. +The webcast, as with other selected presentations regarding developments in Amgen's business given by management at certain investor and medical conferences, can be found on Amgen's website, www.amgen.com, under Investors. Information regarding presentation times, webcast availability and webcast links are noted on Amgen's Investor Relations Events Calendar. The webcast will be archived and available for replay for at least 90 days after the event. +About Amgen Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.   +Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.   +Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the "World's Best Employers" by Forbes and one of "America's 100 Most Sustainable Companies" by Barron's. +For more information, visit Amgen.com and follow us on Twitter, LinkedIn, Instagram, TikTok and YouTube.   +CONTACT: Amgen, Thousand Oaks Jessica Akopyan, 805-447-0974 (media) Arvind Sood, 805-447-1060 (investors)  + +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/amgen-to-present-at-the-2023-svb-securities-global-biopharma-conference-301743390.html +SOURCE Amgen + + diff --git a/news/AMGN/2023.02.13/Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF.txt b/news/AMGN/2023.02.13/Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF.txt new file mode 100644 index 0000000000000000000000000000000000000000..b60c66e94432a21b624ae753d49c13c8dba8b1fc --- /dev/null +++ b/news/AMGN/2023.02.13/Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF.txt @@ -0,0 +1 @@ +Soros disclosed a $325.3 million stake, or 2.9 million shares, in biotech firm Horizon Therapeutics, which was bought by Amgen in December for nearly $28 billion. It was the investment firm's biggest singular acquisition in the quarter.The firm also bought 2.8 million shares, valued at $90 million, in home health assessment firm Signify Health. It added $209.1 million, or 8.5 million shares, in Memphis-based financial services company First Horizon, which was acquired by Toronto-Dominion Bank roughly a year ago for $13.4 billion. The deal has been delayed and now is expected to be concluded in May. In finance, the investment firm also added consumer lending firm Capital One Financial Corp, Discover Financial Services, and SoFi Technologies, although it also dumped small investments in banks JPMorgan Chase & Co and Bank of New York Mellon Corp.Soros' portfolio dissolved or trimmed positions in tech companies.Shares in Zoom Technologies Inc and Airbnb Inc were sold, while it reduced its holdings in Amazon.com, by 54.5%, to 901 million shares. Shares in the company rose 18.5% this year.The regulatory filing also showed Soros bought $255 million in an investment grade corporate bond ETF.The so-called 13-F filings, which disclose investment firms portfolios, are closely watched for investment trends even though the data is released with a delay and can be dated.As interest rates rise, investors are increasing their bets on U.S. corporate bonds this year. (Reporting by Carolina Mandl, Editing by Chris Reese)By Carolina Mandl \ No newline at end of file diff --git a/news/AMGN/2023.02.14/Amgen : Non-GAAP Reconciliations - Amgen Fixed Income Investor Presentation February 2023.txt b/news/AMGN/2023.02.14/Amgen : Non-GAAP Reconciliations - Amgen Fixed Income Investor Presentation February 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..a15aa790fc50ca817f7e598fb006cdfb9b3f5dea --- /dev/null +++ b/news/AMGN/2023.02.14/Amgen : Non-GAAP Reconciliations - Amgen Fixed Income Investor Presentation February 2023.txt @@ -0,0 +1,46 @@ + + + + Reconciliation of Fourth Quarter Cash Flows 2021-2022 (In millions) + + + (Unaudited) + + + + + Reconciliation of GAAP to Non-GAAP Net Income 2019-2022 (In millions) + + + (Unaudited) + + + +The adjustments related primarily to noncash amortization of intangible assets from business acquisitions. + + +Starting January 2022, we no longer exclude adjustments for upfront license fees, development milestones and in-process research and development (IPR&D) expenses of pre-approval programs related to licensing, collaboration and asset acquisition transactions from our non-U.S. Generally Accepted Accounting Principles (GAAP) measures. The adjustments to net income reflect this update to our non-GAAP policy for 2021. + + +Starting January 2021, we began to exclude the gains and losses on our investments in equity securities from our non-GAAP measures that are recorded to Interest (expense) income, net, pursuant to an update to our non-GAAP policy. The adjustments to net income reflect this update to our non-GAAP policy for 2020. + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amgen Inc. published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2023 19:11:08 UTC. + + diff --git a/news/AMGN/2023.02.14/Health Rounds: Pancreas cancer rising faster among younger U.S. women.txt b/news/AMGN/2023.02.14/Health Rounds: Pancreas cancer rising faster among younger U.S. women.txt new file mode 100644 index 0000000000000000000000000000000000000000..92f1e4e626732c95a77bfa8c9ed670ce55e517a7 --- /dev/null +++ b/news/AMGN/2023.02.14/Health Rounds: Pancreas cancer rising faster among younger U.S. women.txt @@ -0,0 +1,87 @@ +(Health Rounds is published on Tuesdays and Thursdays. Think +your friend or colleague should know about us? Forward this +newsletter to them. They can also subscribe here.)Feb 14 (Reuters) -Welcome to Health Rounds! Pancreas cancer rates are climbing +in the U.S., but they’re rising faster in younger women than in +their male counterparts, a large study shows. Researchers say +the increases are relatively small, but while they work to +figure out the reasons, they hope awareness might refocus people +on the need for lifestyle changes that help decrease the risk.In other news, a drug that delivers a cancer-killing virus +directly into tumors may be an effective new alternative for +patients with a hard-to-treat form of breast cancer. And instead +of looking for new ways to kill antibiotic-resistant bacteria, +researchers suggest finding ways to disable the organisms and +make them less harmful.Pancreas cancer rates rising faster in young womenPancreas cancer rates in the United States are increasing +faster in younger women than in their male counterparts, a large +study has found.And while survival rates are improving overall, "that +improvement is largely among men. The mortality rate among women +is not improving," Dr. Srinivas Gaddam of Cedars Sinai Medical +Center in Los Angeles said in a statement.Gaddam's team used databases covering more than half the +country to study pancreatic cancer rates between 2001 and 2018. +During that period, the cancers were diagnosed in 454,611 +patients, roughly half of whom were female. Over that period, +the rate of new diagnoses rose by roughly 1%, with a similar +pattern seen in adults of both sexes over the age of 55.Among those younger than 55, however, the rate of new +pancreatic cancer diagnoses rose by 2.36% in women versus 0.62% +in men.The difference was most pronounced in the youngest patients. +Among women under age 34, the rate went up by 6.45%, compared to +2.97% in similarly aged men. The greatest increase in this age +group was in Black women, the research team reported in +Gastroenterology.The researchers also found that rates of pancreatic head +adenocarcinoma, an especially aggressive and deadly type of +tumor at the head of the pancreas, appear to be increasing.The increases are small and the findings should not cause +alarm, Gaddam said. The research team plans to look for +explanations for these trends, which might include differences +between pancreatic tumors in women and in men.The study was funded in part by The Widjaja Family Fund for +Pancreatic Cancer Research.Cancer-killing virus tested in hard-to-treat breast cancerAdding a drug that contains a cancer cell-killing virus to +treatment with chemotherapy yielded impressive results in a +small trial of patients with triple-negative breast cancer, with +nearly half seeing their tumors disappear.Triple-negative breast cancer has few treatment options +because many drugs do not bind to the cancer cells and so cannot +attack them. A new approach employs talimogene laherperepvec +(T-VEC), sold as Imlygic by Amgen Inc, which contains a +so-called oncolytic, or cancer-killing, herpes virus already in +use for treating advanced melanoma.With funding from Amgen, researchers at the Moffitt Cancer +Center in Tampa, Florida injected T-VEC directly into +triple-negative breast cancer tumors in 37 patients receiving +chemotherapy in advance of mastectomy or lumpectomy. The average +tumor size was about four centimeters (1.65 inches), all the +patients had stage 2 or stage 3 disease, and in nearly half, the +cancer had spread to the lymph nodes.As reported in Nature Medicine, the treatment led to a +complete response in 46% of the patients, meaning the tumor was +no longer detectable. Another 21% of the patients had +significant shrinkage of their tumors.Two years after the treatment and the surgery, 89% of the +patients remained cancer free, and there were no recurrences in +the patients who had strong responses to the treatment.The researchers noted that Merck and Co's +immunotherapy Keytruda is already approved for use along with +chemotherapy in patients with triple-negative breast cancer and +has led to significantly improved survival, but with a risk for +autoimmune side effects.Side effects with T-VEC were similar to what would be +expected of chemotherapy. There were higher rates of low grade +fevers, chills, headaches and injection site pain, researchers +reported."Locally administered agents like oncolytic viruses may +boost tumor anti-immunity without increasing systemic +toxicities," they said.If you can't kill MRSA, try disabling itInstead of trying to kill antibiotic-resistant bacteria, +limiting the damage they can do might be an option, laboratory +experiments suggest."If we can disarm it, then we may not have to worry about it +evading antimicrobial agents," study leader Seth Dickey of the +University of Maryland said in a statement.There is a huge unmet need for new medicines or approaches +to tackle bacteria resistant to many current drugs.Dickey's team has discovered that two proteins enable MRSA +bacteria (methicillin-resistant Staphylococcus aureus) to +secrete the toxins that make people sick. They also learned how +those proteins work and what happens if they are disabled, +according to a report released on Tuesday and scheduled for +publication this week in PNAS."We were looking for an alternative way of approaching +MRSA," Dickey said. "We were interested in understanding how the +bacterium causes disease to see if we could interfere directly +with the virulence factors that the bug produces."When they removed one of those proteins in test-tube +experiments, toxins could not leave the single-cell organisms, +the researchers found. Instead, the toxins merely built up +inside the bacteria, where they cannot hurt anyone. When the +other protein was removed, the bacteria were damaged by their +own toxins.The researchers theorize that if therapies could be +developed that target these two proteins, MRSA bacteria could be +disabled, making them less deadly and possibly even harmless.The research, funded by the U.S. National Institutes of +Health, has implications beyond MRSA because many other bacteria +also have dual transport protein systems similar to the one +found in MRSA. +(Reporting by Nancy Lapid; Editing by Bill Berkrot) \ No newline at end of file diff --git a/news/AMGN/2023.02.22/Genentech BPCIA Trastuzumab Case Against Tanvez Dismissed After Settlement.txt b/news/AMGN/2023.02.22/Genentech BPCIA Trastuzumab Case Against Tanvez Dismissed After Settlement.txt new file mode 100644 index 0000000000000000000000000000000000000000..3edfdae9530d115a4052fd935446f52e7fc6ffc8 --- /dev/null +++ b/news/AMGN/2023.02.22/Genentech BPCIA Trastuzumab Case Against Tanvez Dismissed After Settlement.txt @@ -0,0 +1,11 @@ +As previously reported, Genentech and Tanvex reached an agreement in January 2022 to settle BPCIA litigation relating to Tanvex's biosimilar of HERCEPTIN (trastuzumab). On February 9, the court entered an order dismissing all claims in the case. Tanvez's trastuzumab biosimilar has not yet been approved by FDA.Genentech previously settled cases filed against Pfizer, Celltrion/Teva, Amgen, and Samsung Bioepis/Merck involving their respective trastuzumab biosimilars. In 2017, Genentech also reached a settlement with Mylan in relation to Genentech's patents for HERCEPTIN (trastuzumab), in which Mylan agreed to withdraw two IPR challenges. Each company has commercially launched their trastuzumab biosimilars in the United States-Amgen launched KANJINTI (trastuzumab-anns) in July 2019, Mylan launched OGIVIRI (trastuzumab-dkst) in December 2019, Pfizer launched TRAZIMERA (trastuzumab-qyyp) in February 2020, Teva launched HERZUMA (trastuzumab-pkrb) in March 2020, and Samsung Bioepis launched ONTRUZANT (trastuzumab-dttb) in April 2020.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Kevin DeJong +Goodwin Procter LLP +100 Northern Avenue +Boston +MA 02210 +UNITED STATES +Tel: 212813 8800 +E-mail: rmertz@goodwinlaw.com +URL: www.goodwinlaw.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AMGN/2023.02.23/AMGEN ANNOUNCES CARDIOVASCULAR STUDY TO EVALUATE ASSOCIATION BETWEEN LIPOPROTEIN(a) AND...txt b/news/AMGN/2023.02.23/AMGEN ANNOUNCES CARDIOVASCULAR STUDY TO EVALUATE ASSOCIATION BETWEEN LIPOPROTEIN(a) AND...txt new file mode 100644 index 0000000000000000000000000000000000000000..051b3696f8e6c2096a2dd907c4913a07409d4133 --- /dev/null +++ b/news/AMGN/2023.02.23/AMGEN ANNOUNCES CARDIOVASCULAR STUDY TO EVALUATE ASSOCIATION BETWEEN LIPOPROTEIN(a) AND...txt @@ -0,0 +1 @@ +THOUSAND OAKS - Amgen (NASDAQ: AMGN) today announced the African American Heart Study, in collaboration with the Association of Black Cardiologists (ABC) and the Morehouse School of Medicine (MSM), which will measure the association between Lipoprotein(a), or Lp(a), and atherosclerotic cardiovascular disease (ASCVD) in 5,000 African American individuals across the United States.ASCVD is defined as the buildup of cholesterol plaque in arteries and includes events such as heart attack and stroke.'The African American Heart Study is a unique collaborative study including community outreach in partnership with trusted organizations to help improve our understanding of the disproportionate higher incidence of Lp(a) and cardiovascular disease progression in African Americans and hopefully provide insights of ways to address barriers in clinical trial access,' said Ponda Motsepe-Ditshego, M.D., vice president, global medical and head of Amgen's Representation in Clinical Research team. 'At Amgen, our mission is to serve patients, and important to that mission is expanding clinical trial access and diverse representation in the community setting to provide a full picture of how a disease impacts certain groups.'Cardiovascular disease is the number one killer of all Americans, and the cardiovascular risk for African Americans is even higher. According to the U.S. Department of Health and Human Services, African Americans are 30% more likely to die from heart disease than non-Hispanic whites.1-2Lp(a) is a presumed independent risk factor for heart disease; levels are genetically determined and are known to differ by race and ethnicity.3-6 African American individuals show a higher average Lp(a) concentration than white populations, but Lp(a) research to date has primarily been conducted in individuals of European descent.7 This leaves the association between Lp(a) levels and incident ASCVD in persons of African American descent uncertain and important to investigate further to understand drivers of cardiovascular risk in African Americans. Amgen has initiated the African American Heart Study to bridge this gap.'People of all races and ethnicities can have high levels of Lp(a), but it appears to be more common in African Americans. I am excited about the African American Heart Study because we have the opportunity to study up to 5,000 self-identified African Americans, who have been so often underrepresented in studies, in order to gain a better understanding of the genetic underpinnings of Lp(a) and to determine if African American patients are at a higher risk of cardiovascular disease,' said Elizabeth Ofili, M.D., M.P.H., FACC, professor of medicine at Morehouse School of Medicine and principal investigator of the study. 'The results of this study will potentially provide insights that will help determine which types of patients would benefit most from future therapy.'This prospective case-control study design will enroll 2,500 self-identified African Americans with ASCVD and 2,500 self-identified African Americans without ASCVD from cardiology and primary care practices across the United States. Enrollment is voluntary. ABC and MSM will conduct community outreach, as well as identify sites through the Health 360x Clinical Trial Network and Registry. The Health 360x Network practice sites are trusted providers, crucial to the success of the African American Heart Study. The Health 360x Clinical Trial Network and Registry is funded by the National Institutes of Health to support clinical trials in community-based practices.9Amgen's subsidiary, deCODE genetics, based in Iceland, with its world-class human genetics capabilities, will sequence and analyze DNA, RNA, and protein markers from participants' blood samples. With three years of follow-up planned, the broad omics data analyzed by deCODE will help Amgen broaden the understanding of ASCVD and other diseases that disproportionately affect African Americans. The learnings may also inform future clinical trials and drug development.'Increasing the diversity in our clinical trials is essential to achieving our ambition of serving all patients. This requires us to think differently than we have in the past about how we design and conduct our trials,' said Rob Lenz, M.D., Ph.D., senior vice president, Global Development at Amgen. 'To do that, we are educating the community on why this is critical and building trusted relationships with our partners. We also are training external investigators and building new capabilities that will help provide them with the right infrastructures in communities of underserved patient populations to make projects like the African American Heart Study possible.'The African American Heart Study is emblematic of Amgen's unwavering commitment to diversity in clinical trials. In 2020, Amgen launched its Representation in Clinical Research team to accelerate its work in promoting diversity in clinical trials and is focused on improving clinical trial diversity and proportional representation by addressing the systemic issues that deter people from participating in research, especially those who have been historically excluded due to race, ethnicity, sex, age, and other factors.About the African American Heart StudyThe main objective of the study is to determine associations between Lp(a) levels, sequence variants, clinical factors and cardiovascular outcomes in African Americans. Participants will be followed for at least three years leveraging real-world evidence from electronic health records.About Lp(a)Lp(a) is genetically determined and presumed to be an independent risk factor for cardiovascular disease (CVD). 4-6 Although an agreed upon threshold for elevated Lp(a) is not firmly established, it has been estimated that approximately 20% of adults have Lp(a) >125 nmol/L (or approximately 50 mg/dL).3-6 Evidence has emerged from pathophysiological, epidemiologic, and genetic studies on the potential role of elevated Lp(a) in contributing to myocardial infarction, stroke, and peripheral arterial disease.3-8About AmgenAmgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the 'World's Best Employers' by Forbes and one of 'America's 100 Most Sustainable Companies' by Barron's.About deCODE geneticsBased in Reykjavik, Iceland, deCODE genetics, is a global leader in analyzing and understanding the human genome. Using its unique expertise and population resources, deCODE has discovered genetic risk factors for dozens of common diseases. The purpose of understanding the genetics of disease is to use that information to create new means of diagnosing, treating and preventing disease. deCODE is a wholly-owned subsidiary of Amgen (NASDAQ: AMGN).Forward-Looking StatementsThis news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd., Kyowa-Kirin Co., Ltd., or any collaboration to manufacture therapeutic antibodies against COVID-19), the performance of Otezla (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), the Five Prime Therapeutics, Inc. acquisition, the Teneobio, Inc. acquisition, the ChemoCentryx, Inc. acquisition, or the proposed acquisition of Horizon Therapeutics plc, as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic on our business, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, preclinical results do not guarantee safe and effective performance of product candidates in humans. The complexity of the human body cannot be perfectly, or sometimes, even adequately modeled by computer or cell culture systems or animal models. The length of time that it takes for us to complete clinical trials and obtain regulatory approval for product marketing has in the past varied and we expect similar variability in the future. Even when clinical trials are successful, regulatory authorities may question the sufficiency for approval of the trial endpoints we have selected. We develop product candidates internally and through licensing collaborations, partnerships and joint ventures. Product candidates that are derived from relationships may be subject to disputes between the parties or may prove to be not as effective or as safe as we may have believed at the time of entering into such relationship. Also, we or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market.Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. A breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our environmental, social and governance objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.The scientific information discussed in this news release related to our product candidates is preliminary and investigative. Such product candidates are not approved by the U.S. Food and Drug Administration, and no conclusions can or should be drawn regarding the safety or effectiveness of the product candidates.[Further,] any scientific information discussed in this news release relating to new indications for our products is preliminary and investigative and is not part of the labeling approved by the U.S. Food and Drug Administration for the products. The products are not approved for the investigational use(s) discussed in this news release, and no conclusions can or should be drawn regarding the safety or effectiveness of the products for these uses.Contact:Michael StrapazonTel: 805-313-5553(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMZN/2023.01.02/SpaceX to raise $750 million at $137 billion valuation - CNBC.txt b/news/AMZN/2023.01.02/SpaceX to raise $750 million at $137 billion valuation - CNBC.txt new file mode 100644 index 0000000000000000000000000000000000000000..d0a923ed70e5ae7b312061eef279b8c221652645 --- /dev/null +++ b/news/AMZN/2023.01.02/SpaceX to raise $750 million at $137 billion valuation - CNBC.txt @@ -0,0 +1 @@ +Reuters had reported in November that SpaceX was in talks about an offering of mostly secondary shares that could value the company at up to $150 billion, representing a 20% increase in valuation.SpaceX, which counts Alphabet Inc and Fidelity Investments among its investors, had raised about $1.68 billion through equity financing in June. Spokespersons for SpaceX and Horowitz did not immediately respond to Reuters' requests for comment. Horowitz was also a co-investor in Musk's Twitter buyout deal worth $44 billion.SpaceX has launched numerous cargo payloads and astronauts to the International Space Station for the National Aeronautics and Space Administration (NASA).Starlink, SpaceX's growing network of thousands of internet satellites, is looking at generating major revenue with commercialized applications such as the rollout of high-speed internet on commercial airlines.SpaceX competes with Amazon.com founder Jeff Bezos's space venture Blue Origin and billionaire Richard Branson's Virgin Galactic. (Reporting by Aarati Krishna in Bengaluru; Editing by Sohini Goswami) \ No newline at end of file diff --git a/news/AMZN/2023.01.03/Amazon secures $8 billion loan.txt b/news/AMZN/2023.01.03/Amazon secures $8 billion loan.txt new file mode 100644 index 0000000000000000000000000000000000000000..40e3d4cb0905d1dc3a9b2120c49888354de60c92 --- /dev/null +++ b/news/AMZN/2023.01.03/Amazon secures $8 billion loan.txt @@ -0,0 +1 @@ +The term loan will mature in 364 days with an option to extend for an additional 364 days and the proceeds would be used for general corporate purposes, Amazon said.The company had about $35 billion in cash and cash equivalents and long-term debt of about $59 billion, at the end of the third quarter ended Sept. 30. (Reporting by Uday Sampath and Akash Sriram in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/AMZN/2023.01.03/Apple's stock market value falls below $2 trillion.txt b/news/AMZN/2023.01.03/Apple's stock market value falls below $2 trillion.txt new file mode 100644 index 0000000000000000000000000000000000000000..28c021fd1f0e352f68f639594669f39b73f37c73 --- /dev/null +++ b/news/AMZN/2023.01.03/Apple's stock market value falls below $2 trillion.txt @@ -0,0 +1,35 @@ +Jan 3 (Reuters) - Apple Inc's stock market +value shrank sharply on Tuesday following its steep drop last +year, leaving it below $2 trillion for the first time since +March 2021.The sell-off came a year after the iPhone maker became the +first company to reach the $3 trillion market capitalization +milestone.Apple's shares declined 3.7% to $125.07 after Exane BNP +Paribas analyst Jerome Ramel downgraded the company to "neutral" +from "outperform," slashing his price target to $140 from $180, +according to Refinitiv Eikon.Also exacerbating investors' worries that a slowing +global economy and high inflation may be hurting demand for +Apple devices, Nikkeireported, citing unnamed suppliers, that Apple has told suppliers to +manufacture fewer parts for its ear buds, watches and laptops.The drop in Apple's share price put its market +capitalization at $1.99 trillion.Ramel cut his iPhone shipment targets for fiscal 2023 to 224 +million units from 245 million units, reflecting supply chain +issues from manufacturer Foxconn and consumers cutting back +spending on high-end phones.At Apple's current stock price, the company's value is just +ahead of Microsoft Corp, valued at about $1.8 trillion.With investors worried about consumer demand, analysts on +average expect the Cupertino, California company to report a 1% +drop in December-quarter revenue in the coming weeks, according +to Refinitiv. That would mark Apple's first quarterly revenue +decline since the March quarter of 2019."They (Apple) tend to skew to the high-end consumer device +customer but even that demographic might be being affected by +the high price of everything," Bokeh Capital Partners' Kim +Forrest said.Last year's steep sell-off on Wall Street punished +tech-related heavyweights as investors worried about rising +interest rates dumped stocks with high valuations.The combined stock market value of Apple, Microsoft, +Amazon.com Inc, Alphabet Inc and Meta +Platforms now accounts for about 18% of the S&P 500, +down from as much as 24% in 2020.Even after its 27% drop last year, Apple has provided +stellar returns to long-term shareholders. Investors who bought +and held Apple shares when cofounder Steve Jobs launched the +iPhone in 2007 have enjoyed a gain of over 4,000%, not including +dividends, compared to a 180% gain in the S&P 500 over the same +period.(Reporting by Nivedita Balu in Bengaluru; Editing by Arun +Koyyur and Richard Chang) \ No newline at end of file diff --git a/news/AMZN/2023.01.03/IMDb Announces the Most Anticipated Movies and Series of 2023.txt b/news/AMZN/2023.01.03/IMDb Announces the Most Anticipated Movies and Series of 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..d00a291edb621f8b8da5d2091097517ceae8d89f --- /dev/null +++ b/news/AMZN/2023.01.03/IMDb Announces the Most Anticipated Movies and Series of 2023.txt @@ -0,0 +1,19 @@ + +IMDb (www.imdb.com), the world’s most popular and authoritative source for information on movies, TV shows, and celebrities, today unveiled the Most Anticipated Movies and TV Series of 2023. Rather than base its annual rankings on small statistical samplings or reviews from professional critics, IMDb determines its list of the most anticipated titles by the actual page views of the more than 200 million monthly visitors to IMDb. This exclusive and definitive data is derived from the IMDbPro movie and TV rankings, which are updated weekly throughout the year. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230103005024/en/IMDb Announces the Most Anticipated Movies and Series of 2023 (Photo credit: IMDb) +IMDb Most Anticipated Movies of 2023* + +*Among the movies with planned releases in 2023, these 10 were consistently the most popular with IMDb users, as determined by the actual page views of the more than 200 million monthly visitors to IMDb worldwide in 2022. This exclusive data is derived from the IMDbPro movie rankings, which are updated weekly throughout the year. IMDb users can add these and other titles to their IMDb Watchlist, and get alerts when they become available. + +IMDb Most Anticipated New Series of 2023* + +*The 10 new TV shows and limited series that will premiere in 2023 and consistently ranked highest on the IMDbPro proprietary weekly TV rankings throughout 2022. IMDbPro rankings are based on the actual page views of the more than 200 million monthly visitors to IMDb worldwide. IMDb users can add these and other titles to their IMDb Watchlist, and get alerts when they become available. + +"IMDb customers are eagerly anticipating tales of iconic childhood characters like Barbie, Ariel, and Winnie-the-Pooh, as well as new storylines from popular video game franchises Mario, and The Last of Us," said Nikki Santoro, IMDb chief operating officer. “What a lineup of incredible titles coming in 2023 for entertainment fans to start loading onto their IMDb Watchlists.” + +Additional insight into trending movies, TV shows, and celebrities, with rankings updated weekly, is available to IMDbPro members throughout the year on both the site and apps for iPhone, iPad, and Android. IMDbPro includes comprehensive information and tools designed to help entertainment industry professionals achieve success throughout all stages of their career. IMDbPro offers members the following: detailed contact and representation information; more than 25,000 in-development film and TV titles not available on IMDb; tools to manage and showcase their IMDb profile, including selecting their primary images and the credits they are best “known for”; IMDbPro Track, which allows members to receive personalized entertainment industry news and updates on the people and film and TV projects they want to follow; and a convenient tool that generates custom digital assets to promote their work on social media and other platforms. To become a member today, visit www.imdbpro.com. + +About IMDb + +IMDb is the world's most popular and authoritative source for information on movies, TV shows, and celebrities. Products and services to help fans decide what to watch and where to watch it include: the IMDb website for desktop and mobile devices; apps for iOS and Android; and X-Ray on Prime Video. IMDb also produces IMDb original video series and podcasts. For entertainment industry professionals, IMDb provides IMDbPro and Box Office Mojo. IMDb licenses information from its vast and authoritative database to third-party businesses worldwide; learn more at developer.imdb.com. IMDb is an Amazon company. For more information, visit imdb.com/press and follow @IMDb. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005024/en/ \ No newline at end of file diff --git a/news/AMZN/2023.01.03/Wall St falters at start of 2023 as Apple, Tesla shares fall.txt b/news/AMZN/2023.01.03/Wall St falters at start of 2023 as Apple, Tesla shares fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..d3f0e45b6d7f4890a1674fba9edffe724ead0598 --- /dev/null +++ b/news/AMZN/2023.01.03/Wall St falters at start of 2023 as Apple, Tesla shares fall.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tesla drops on Q4 deliveries miss*Apple hits lowest since June 2021*Indexes down: Dow 0.58%, S&P 0.85%, Nasdaq 1.26%Jan 3 (Reuters) - Wall Street's main indexes dropped on +the first trading day of 2023 due to heavy losses in Tesla and +Apple, while investors awaited minutes from the last policy +meeting of the Federal Reserve for more clarity on the path of +interest rate hikes.The electric-vehicle maker fell 13.7% after missing +Wall Street estimates for quarterly deliveries and iPhone maker +Apple Inc dropped 3.9% to its lowest since June 2021 +following a rating downgrade due to production cuts in China.Consumer discretionary and technology stocks +slipped more than 1% each.The energy sector, which logged stellar gains in +2022, slid 2.7%, tracking lower oil prices on bleak business +activity data from China and concerns about the outlook for the +global economy amid recession worries..Other rate-sensitive technology and growth stocks such as +Alphabet Inc, Meta Platforms Inc and +Amazon.com Inc were up between 0.9% and 2.9%."The market, like today, is not very much about fundamentals +or news, it's more about the emotion of a start of a new year +and investors trying to decide if a recovery is in front of +them," said Rick Meckler, partner at Cherry Lane Investments in +New Vernon, New Jersey."Given last year's weak performance, I would certainly +expect a better year ahead."The main stock indexes ended 2022 with their steepest annual +losses since 2008 following the Fed's fastest pace of rate hikes +since the 1980s to stamp out decades-high inflation.The S&P 500 shed 19.4% in 2022, marking a roughly $8 +trillion decline in market capitalization, while the Nasdaq fell +33.1%, dragged down by growth stocks.Investors on Wednesday will closely monitor the minutes of +the Fed's December policy meeting, when the central bank raised +interest rates by 50 basis points after four straight 75-bps +hikes and signaled rates could stay higher for longer.Other economic data due this week includes December's jobs +report and the ISM manufacturing report.Weakness in the labor market could give the Fed a reason to +ease its monetary policy tightening, but the data so far has +shown that the market remains tight despite interest rate hikes.Money market participants see a 68% chance the Fed will +raise the benchmark rate by 25 bps to 4.50%-4.75% in February, +with the rates peaking at 4.98% by June.At 12:17 p.m. ET, the Dow Jones Industrial Average +was down 190.79 points, or 0.58%, at 32,956.46, the S&P 500 +was down 32.46 points, or 0.85%, at 3,807.04, and the +Nasdaq Composite was down 131.84 points, or 1.26%, at +10,334.64.U.S.-listed Chinese firms such as Alibaba Group Holding Ltd +, JD.com Inc, Pinduoduo Inc rose between +1% and 4% on post-COVID recovery hopes.Advancing issues outnumbered decliners by a 1.16-to-1 ratio +on the NYSE and by a 1.08-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week highs and 5 new lows, +while the Nasdaq recorded 80 new highs and 32 new lows. +(Reporting by Shubham Batra, Ankika Biswas and Amruta Khandekar +in Bengaluru; Editing by Shounak Dasgupta and Arun Koyyur) \ No newline at end of file diff --git a/news/AMZN/2023.01.03/Wall Street drops as Apple, energy stocks weigh.txt b/news/AMZN/2023.01.03/Wall Street drops as Apple, energy stocks weigh.txt new file mode 100644 index 0000000000000000000000000000000000000000..f10d89f87367091f9727156ec418d5f3a9740642 --- /dev/null +++ b/news/AMZN/2023.01.03/Wall Street drops as Apple, energy stocks weigh.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tesla falls as quarterly deliveries miss estimates*China ADRs gain on post-COVID recovery hopes*Indexes down: Dow 0.07%, S&P 0.26%, Nasdaq 0.56%Jan 3 (Reuters) - Wall Street's main indexes fell on the +first trading day of the year following declines in Apple and +energy stocks, with investors awaiting the Federal Reserve's +meeting minutes for further clarity on the path of future +interest rate hikes.Most of the major S&P 500 sectors were in the red, with +information technology stocks pulled lower by a 3% +drop in the shares of iPhone maker Apple Inc following +a report of a rating downgrade by Exane BNP Paribas.Tesla Inc fell nearly 10% as the electric-vehicle +maker missed Wall Street estimates for quarterly deliveries.Other rate-sensitive technology and growth stocks such as +Alphabet Inc, Meta Platforms Inc, Microsoft +and Amazon.com Inc were up between 0.6% and +2.0%.The energy sector, which logged stellar gains in 2022, fell +1.2% tracking oil prices lower on bleak business activity data +from China as well as concerns about the global economic +outlook."The market, like today, is not very much about fundamentals +or news, it's more about the emotion of a start of a new year +and investors trying to decide if a recovery is in front of +them," said Rick Meckler, partner at Cherry Lane Investments in +New Vernon, New Jersey.The main U.S. stock indexes ended 2022 with their steepest +annual losses since 2008 against the backdrop of the Fed's +fastest pace of rate hikes since the 1980s.The S&P 500 shed 19.4% in 2022, marking a roughly $8 +trillion decline in market cap, while the Nasdaq fell 33.1%, +dragged down by growth stocks.Investors on Wednesday will closely monitor the minutes of +the Fed's December policy meeting, when the central bank raised +interest rates by 50 basis points after four back-to-back 75-bps +hikes and signaled rates could stay higher for a while.Other economic data due this week includes December's +nonfarm payrolls report as well as the ISM manufacturing report, +which will give further clues on the strength of the economy and +the labor market.Money market participants see a 68.8% chance the Fed will +raise the benchmark rate by 25 bps to 4.50%-4.75% in February, +with the rates peaking at 4.94% by June.At 10:48 a.m. ET, the Dow Jones Industrial Average +was down 24.82 points, or 0.07%, at 33,122.43, the S&P 500 +was down 9.92 points, or 0.26%, at 3,829.58, and the +Nasdaq Composite was down 58.43 points, or 0.56%, at +10,408.05.U.S.-listed Chinese firms such as Alibaba Group Holding Ltd +, JD.com Inc, Pinduoduo Inc rose between +3% and 6% on post-COVID recovery hopes.Advancing issues outnumbered decliners for a 1.85-to-1 ratio +on the NYSE and a 1.57-to-1 ratio on the Nasdaq.The S&P index recorded no new 52-week high and one new low, +while the Nasdaq recorded 73 new highs and 23 new lows. +(Reporting by Shubham Batra, Ankika Biswas and Amruta Khandekar +in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AMZN/2023.01.04/AMAZON COM INC : UBS reaffirms its Buy rating.txt b/news/AMZN/2023.01.04/AMAZON COM INC : UBS reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..9be7d93db4094c1fc1b0967ec9b99fc2d411e560 --- /dev/null +++ b/news/AMZN/2023.01.04/AMAZON COM INC : UBS reaffirms its Buy rating.txt @@ -0,0 +1 @@ +Lloyd Walmsley from UBS retains his positive opinion on the stock with a Buy rating. The target price is reduced from USD 165 to USD 125. \ No newline at end of file diff --git a/news/AMZN/2023.01.04/Amazon CEO Andy Jassy Says Co Plans To Eliminate Just Over 18,000 Roles- Statement.txt b/news/AMZN/2023.01.04/Amazon CEO Andy Jassy Says Co Plans To Eliminate Just Over 18,000 Roles- Statement.txt new file mode 100644 index 0000000000000000000000000000000000000000..d662285b6e2605f13f1190b61bc81f11d520a8ea --- /dev/null +++ b/news/AMZN/2023.01.04/Amazon CEO Andy Jassy Says Co Plans To Eliminate Just Over 18,000 Roles- Statement.txt @@ -0,0 +1,8 @@ +Jan 4 (Reuters) - Amazon.com Inc:* AMAZON CEO ANDY JASSY SAYS CO PLANS TO ELIMINATE JUST OVER +18,000 ROLES- STATEMENT* AMAZON CEO ANDY JASSY SAYS CO INTEND ON COMMUNICATING WITH +IMPACTED EMPLOYEES STARTING ON JANUARY 18 - STATEMENT* AMAZON CEO - SEVERAL TEAMS ARE IMPACTED; HOWEVER, THE +MAJORITY +OF ROLE ELIMINATIONS ARE IN OUR AMAZON STORES AND PXT +ORGANIZATIONS -STATEMENT +Source text: https://bit.ly/3GeIUZr +Further company coverage: \ No newline at end of file diff --git a/news/AMZN/2023.01.04/Amazon To Lay Off Over 17,000 Workers, More Than First Planned- WSJ.txt b/news/AMZN/2023.01.04/Amazon To Lay Off Over 17,000 Workers, More Than First Planned- WSJ.txt new file mode 100644 index 0000000000000000000000000000000000000000..c3a3b2360ad0cf2f4a12f29e45a3a5c72105071e --- /dev/null +++ b/news/AMZN/2023.01.04/Amazon To Lay Off Over 17,000 Workers, More Than First Planned- WSJ.txt @@ -0,0 +1,5 @@ +Jan 4 (Reuters) -* AMAZON TO LAY OFF OVER 17,000 WORKERS, MORE THAN FIRST +PLANNED- +WSJ +Source text: https://on.wsj.com/3Zepr3y +Further company coverage: \ No newline at end of file diff --git a/news/AMZN/2023.01.04/Amazon to cut 18,000 jobs as layoffs expand in tech sector.txt b/news/AMZN/2023.01.04/Amazon to cut 18,000 jobs as layoffs expand in tech sector.txt new file mode 100644 index 0000000000000000000000000000000000000000..f71bd7b25a61f436519f866ab6053682dc805813 --- /dev/null +++ b/news/AMZN/2023.01.04/Amazon to cut 18,000 jobs as layoffs expand in tech sector.txt @@ -0,0 +1,46 @@ +Jan 5 (Reuters) - Amazon.com Inc's layoffs will +now include more than 18,000 roles as part of a workforce +reduction it previously disclosed, Chief Executive Andy Jassy +said in a public staff note on Wednesday.The layoff decisions, which Amazon will communicate starting +Jan. 18, will largely impact the company's e-commerce and human +resources organizations, he said.The cuts amount to 6% of Amazon's roughly 300,000-person +corporate workforce and represent a swift turn for a retailer +that recently doubled its base pay ceiling to compete more +aggressively for talent.They also show how layoffs continue to shake the technology +sector. Amazon's layoffs now surpass the 11,000 cuts announced +last year by Facebook parent Meta Platforms Inc, +underscoring the retailer's slide from an essential business +moving goods during pandemic lockdowns, to a company that +overbuilt for demand.Its stock fell more than 1% on Thursday and is half the +price it was a year ago.Amazon has more than 1.5 million workers including warehouse +staff, making it America's second-largest private employer after +Walmart Inc. Jassy indicated its cuts extend to Europe.Jassy said in the note that annual planning "has been more +difficult given the uncertain economy and that we've hired +rapidly over the last several years."The reductions will bring Amazon's corporate workforce +closer to September 2021 levels, when it told Reuters this +headcount numbered around 275,000 people globally.For months the company has braced for likely slower growth +as soaring inflation encouraged businesses and consumers to cut +back spending. U.S. retailers overall saw a smaller rise in +online sales this holiday season, with a recent measure of +consumer prices up about 7% from a year earlier.Amazon began letting staff go in November from its devices +division, with a source telling Reuters at the time it was +targeting around 10,000 cuts.The tech industry shed more than 150,000 workers in 2022, +according to tracking site Layoffs.fyi, a number that is +continuing to grow. On Wednesday, Salesforce Inc also +said it planned to eliminate about 10% of staff, which numbered +nearly 8,000 as of Oct. 31.Jassy's note followed a report in the Wall Street Journal +that the reduction would be more than 17,000 jobs. He said +Amazon chose to disclose the news before informing affected +staff because of a leak.Amazon still must file certain legal notices about mass +layoffs, and it plans to pay severance.Jassy said: "Amazon has weathered uncertain and difficult +economies in the past, and we will continue to do so."A spokesperson for London-based trade union GMB said it was +aware of the reduction, but its members would not be affected.Those belonging to the union who work at the Amazon +warehouse in Coventry, central England, are planning to stage a +walkout on Jan. 25 over a pay row with the e-commerce giant.Douglas Harper, a spokesperson for Spain's largest trade +union CCOO, criticized what he said was a total lack of +information from the company."We don't know how this will affect us in Spain," Harper +told Reuters. Most Amazon employees do not have union +representation.Read more:FACTBOX-Tech firms leading job cuts in Corporate AmericaBREAKINGVIEWS-Amazon -- it’s just like them(Reporting by Jeffrey Dastin in Palo Alto, Uday Sampath in +Bengaluru, Muvija M in London, David Latona in Madrid and +Tassilo Hummel in Paris; Editing by Kim Coghill, Jan Harvey and +Lisa Shumaker) \ No newline at end of file diff --git a/news/AMZN/2023.01.04/Amazon to lay off over 17,000 workers - WSJ.txt b/news/AMZN/2023.01.04/Amazon to lay off over 17,000 workers - WSJ.txt new file mode 100644 index 0000000000000000000000000000000000000000..6c4a89e4d7ba8cc1c6d3ef29b81af668169b2747 --- /dev/null +++ b/news/AMZN/2023.01.04/Amazon to lay off over 17,000 workers - WSJ.txt @@ -0,0 +1 @@ +The e-commerce giant in November began laying off staff in its devices division, with the source telling Reuters at the time the company was targeting 10,000 job cuts. Some of the additional layoffs are from Amazon's corporate ranks, the Journal reported, citing people familiar with the matter.Amazon did not immediately respond to a Reuters request for comment.Salesforce Inc said on Wednesday it plans to cut jobs by 10% as technology companies from Meta Platforms Inc to Microsoft Corp slash thousands of jobs in preparation for a recession. (Reporting by Uday Sampath in Bengaluru; Editing by Shailesh Kuber and Sherry Jacob-Phillips) \ No newline at end of file diff --git a/news/AMZN/2023.01.04/Amazon to lay off over 17,000 workers- WSJ.txt b/news/AMZN/2023.01.04/Amazon to lay off over 17,000 workers- WSJ.txt new file mode 100644 index 0000000000000000000000000000000000000000..85fb274679c3c3736304d0e0e730de343c5b249a --- /dev/null +++ b/news/AMZN/2023.01.04/Amazon to lay off over 17,000 workers- WSJ.txt @@ -0,0 +1,6 @@ +Jan 4 (Reuters) - Amazon.com Inc is planning on +laying off over 17,000 workers, the Wall Street Journal reported +on Wednesday.The company had earlier been expected to lay off around +10,000 workers. +(Reporting by Uday Sampath in Bengaluru; Editing by Shailesh +Kuber) \ No newline at end of file diff --git a/news/AMZN/2023.01.04/Amazon, Salesforce jettison jobs in latest tech worker purge.txt b/news/AMZN/2023.01.04/Amazon, Salesforce jettison jobs in latest tech worker purge.txt new file mode 100644 index 0000000000000000000000000000000000000000..aae2043272138bcb9c0a311dad30f4886dc549b1 --- /dev/null +++ b/news/AMZN/2023.01.04/Amazon, Salesforce jettison jobs in latest tech worker purge.txt @@ -0,0 +1 @@ +E-commerce giant Amazon and business software maker Salesforce are the latest U.S. technology companies to announce major job cuts as they prune payrolls that rapidly expanded during the pandemic lockdown.Amazon said Wednesday that it will be cutting about 18,000 positions. It's the largest set of layoffs in the Seattle-based company’s history, although just a fraction of its 1.5 million global workforce.“Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so,” CEO Andy Jassy said in a note to employees that the company made public. “These changes will help us pursue our long-term opportunities with a stronger cost structure.”He said the layoffs will mostly impact the company's brick-and-mortar stores, which include Amazon Fresh and Amazon Go, and its PXT organizations, which handle human resources and other functions.In November, Jassy told staff that layoffs were coming due to the economic landscape and the company’s rapid hiring in the last several years. Wednesday's announcement included earlier job cuts that had not been numbered. The company had also offered voluntary buyouts and has been cutting costs in other areas of its sprawling business.Salesforce, meanwhile, said it is laying off about 8,000 employees, or 10% of its workforce.The cuts announced Wednesday are by far the largest in the 23-year history of a San Francisco company founded by former Oracle executive Marc Benioff. Benioff pioneered the method of leasing software services to internet-connected devices — a concept now known as “cloud computing."The layoffs are being made on the heels of a shake-up in Salesforce's top ranks. Benioff's hand-picked co-CEO Bret Taylor, who also was Twitter's chairman at the time of its tortuous $44 billion sale to billionaire Elon Musk, left Salesforce. Then, Slack co-founder Stewart Butterfield left. Salesforce bought Slack two years ago for nearly $28 billion.Salesforce workers who lose their jobs will receive nearly five months of pay, health insurance, career resources, and other benefits, according to the company. Amazon said it is also offering a separation payment, transitional health insurance benefits, and job placement support.Benioff, now the sole chief executive at Salesforce, told employees in a letter that he blamed himself for the layoffs after continuing to hire aggressively into the pandemic, with millions of Americans working from home and demand for the company's technology surging.“As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we’re now facing, and I take responsibility for that," Benioff wrote.Salesforce employed about 49,000 people in January 2020 just before the pandemic struck. Salesforce's workforce today is still 50% larger than it was before the pandemic.Meta Platforms CEO Mark Zuckerberg also acknowledged he misread the revenue gains that the owner of Facebook and Instagram was reaping during the pandemic when he announced in November that his company would by laying off 11,000 employees, or 13% of its workforce.Like other major tech companies, Salesforce's recent comedown from the heady days of the pandemic have taken a major toll on its stock. Before Wednesday's announcement, shares had plunged more 50% from their peak close to $310 in November 2021. The shares gained nearly 4% Wednesday to close at $139.59.“This is a smart poker move by Benioff to preserve margins in an uncertain backdrop as the company clearly overbuilt out its organization over the past few years along with the rest of the tech sector with a slowdown now on the horizon,” Wedbush analyst Dan Ives wrote.Salesforce also said Wednesday that it will be closing some of its offices, but didn't include locations. The company's 61-story headquarters is a prominent feature of the San Francisco skyline and a symbol of tech's importance to the city since its completion in 2018.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.01.04/Factbox-Corporate America lays off thousands as recession worries mount.txt b/news/AMZN/2023.01.04/Factbox-Corporate America lays off thousands as recession worries mount.txt new file mode 100644 index 0000000000000000000000000000000000000000..ba6be2fdfa3f554ffe3860fab099f7ee30b3a67e --- /dev/null +++ b/news/AMZN/2023.01.04/Factbox-Corporate America lays off thousands as recession worries mount.txt @@ -0,0 +1 @@ +(Reuters) - U.S. companies, from tech majors to consumer firms, are bracing for a potential economic downturn by shrinking their employee base to streamline operations.Job cuts announced by U.S.-based employers jumped 13% to 33,843 in October last year, the highest since February 2021, according to a report.Here are some of the major job cuts announced in recent weeks:Amazon.com Inc:The e-commerce giant has laid off some employees in its devices group as a person familiar with the company said it still targeted around 10,000 job cuts, including in its retail division and human resources.Meta Platforms Inc:The Facebook-parent said it would cut 13% of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs this year as it grapples with a weak advertising market and mounting costs.DoorDash Inc:The food delivery firm, which enjoyed a growth surge during the pandemic, said it was reducing its corporate headcount by about 1,250 employees. AMC Networks Inc:The cable TV network said it would cut about 20% of its U.S. workforce, as it announced Chief Executive Officer Christina Spade had stepped down, less than three months into the role. Kraken:The cryptocurrency exchange said it would cut its global workforce by 30%, or about 1,100 employees, citing tough market conditions that have crippled demand for digital assets this year. Citigroup Inc:The bank eliminated dozens of jobs across its investment banking division, as a dealmaking slump continues to weigh on Wall Street's biggest banks, Bloomberg News reported. Morgan Stanley:The Wall Street powerhouse is expected to start a fresh round of layoffs globally in the coming weeks, Reuters reported on Nov. 3, as dealmaking business takes a hit.Intel Corp:Chief Executive Officer Pat Gelsinger told Reuters "people actions" would be part of a cost-reduction plan. The chipmaker said it would reduce costs by $3 billion in 2023.The adjustments would start in the fourth quarter, Gelsinger said, but did not specify how many employees would be affected.Microsoft Corp: The software giant laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. Johnson & Johnson:The pharmaceutical giant has said it might cut some jobs amid inflationary pressure and a strong dollar, with CFO Joseph Wolk saying the healthcare conglomerate is looking at "right sizing" itself. Twitter Inc:The social media company laid off half its workforce across teams ranging from communications and content curation to product and engineering following Elon Musk's $44 billion takeover. However, Bloomberg later reported Twitter was reaching out to dozens of employees who lost their jobs, asking them to return.Lyft Inc:The ride-hailing firm said it would lay off 13% of its workforce, or about 683 employees, after it already cut 60 jobs earlier this year and froze hiring in September.Warner Bros Discovery:Film subsidiary Warner Bros. Pictures is planning to cut a number of jobs in distribution and marketing that will reduce headcount by 5% to 10%, Bloomberg News reported.Beyond Meat Inc: The vegan meat maker said it plans to cut 200 jobs this year, with the layoffs expected to save about $39 million. Stripe Inc:The digital payments firm is cutting its headcount by about 14% and will have about 7,000 employees after the layoffs, according to an email to employees from the company's founders. Chime Financial Inc:The online banking firm has laid off 12% of its employees, or about 160 jobs, a spokesperson said. Opendoor Technologies Inc: The property-selling platform is laying off about 550 employees, Chief Executive Officer Eric Wu said, adding that the company had already reduced its workforce by more than 830 positions. Phillips 66:The refiner reduced employee headcount by over 1,100 as it seeks to meet its 2022 cost savings target of $500 million. The reductions were communicated to employees in late October.Chesapeake Energy Corp:The U.S. shale gas producer cut about 3% of its workforce, sources told Reuters, as the company readies a sale of South Texas oil properties. Seagate Technology Holdings Plc:The memory chip firm announced a restructuring plan including reducing worldwide headcount by about 8%, or 3,000 employees. Arrival SA: The EV startup said it plans to further "right-size" the organization, which could have a "sizable impact" on its global workforce, mostly in the UK. The company in July said it may cut up to 30% of workforce in restructuring. Coinbase Global: The cryptocurrency exchange said it planned to cut over 60 jobs, in its recruiting and institutional onboarding teams.The move marks a second round of jobs cuts at the company this year, and comes at a time when cryptocurrencies have been roiled by extreme volatility as investors dump risky assets. Walt Disney Co:The media giant is planning to freeze hiring and cut some jobs, according to a company memo seen by Reuters.Roku Inc:The video-streaming device maker said it would reduce its headcount by 5%, or about 200 employees, due to "current economic conditions".Cisco Systems Inc:The networking and collaboration solutions company said it will undertake restructuring which could impact roughly 5% of its workforce. The effort will begin in the second quarter of the fiscal year 2023 and cost the company $600 million. HP Inc:The computing devices maker said it expected to cut up to 6,000 jobs by the end of fiscal 2025. CNN:Warner Bros Discovery-owned CNN's top boss Chris Licht informed employees in an all-staff memo that job cuts were underway.Buzzfeed Inc:The online media company said it will cut about 12% of its workforce. As of Dec. 31 last year, the company had 1,522 employees in six countries.Blue Apron Holdings Inc:The online meal-kit company said it will cut about 10% of its corporate workforce, as it looks to reduce costs and streamline operations. The company had about 1,657 full-time employees, as of Sept. 30. Wolverine World Wide Inc:The casual footwear and apparel retailer said it had initiated a workforce reduction earlier this week and expects this initiative to result in about $30 million in savings in 2023.TuSimple Holdings IncThe autonomous driving technology company will lay off 25% of its workforce, or nearly 350 employees, as part of a restructuring plan to rein in costs.Micron Technology IncThe memory chipmaker will cut 10% of its workforce in 2023 and would reduce its capex plans for fiscal 2024, citing a nagging glut in the semiconductor market.Salesforce IncThe software company said it would lay off about 10% of its employees and close some offices as a part of its restructuring plan, citing a challenging economy. (Reporting by Deborah Sophia in Bengaluru; Additional reporting by Akash Sriram, Granth Vanaik, Eva Mathews and Yuvraj Malik; Editing by Sriraj Kalluvila, Shounak Dasgupta, Sherry Jacob-Phillips, Maju Samuel and Vinay Dwivedi) \ No newline at end of file diff --git a/news/AMZN/2023.01.04/IN THE KNOW: UBS cuts Amazon.com price target.txt b/news/AMZN/2023.01.04/IN THE KNOW: UBS cuts Amazon.com price target.txt new file mode 100644 index 0000000000000000000000000000000000000000..09a17c44dbfb167f6cd1f9d00146246c41250faa --- /dev/null +++ b/news/AMZN/2023.01.04/IN THE KNOW: UBS cuts Amazon.com price target.txt @@ -0,0 +1 @@ +(Alliance News) - Amazon.com Inc had its price target cut by analysts at UBS Group in a research note issued on Wednesday.UBS said it has reduced its price target for Amazon to USD125 from USD165, but it maintained its "buy" recommendation.Analysts at UBS highlighted: "deteriorating cloud checks around (1) customer efforts to optimize/trim cloud spend, (2) delays in new workload migration to avoid upfront costs, and (3) beyond the cyclical/macro, a shift into a more mature "phase two" of market development, marked by slower growth of more difficult-to-migrate workloads."It therefore expects "meaningfully below consensus top line growth."However, UBS noted that retail trends finished the year on a strong note according to US census data.According to data, advance monthly non-store retail sales grew 7.7% year-on-year in November. Versus 2019 levels, November non-store sales growth re accelerated to 74%, after declining to 67% in October.Further, according to Mastercard SpendingPulse, US e-commerce also remained robust as online sales grew 10.6% year-on-year from November 1 to December 24, 2022, and US e-commerce made up 21.6% of total retail sales, up from 20.9% in 2021 and 20.6% in 2020.Shares in Amazon were down 1.7% to USD84.36 in New York on Wednesday morning.By Sophie Rose; Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AMZN/2023.01.04/MarketScreener's World Press Review: January 4, 2023.txt b/news/AMZN/2023.01.04/MarketScreener's World Press Review: January 4, 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..d7ba5c5a1ae41a709760e9833b1c8c801388f8da --- /dev/null +++ b/news/AMZN/2023.01.04/MarketScreener's World Press Review: January 4, 2023.txt @@ -0,0 +1,13 @@ + +Arm (SoftBank), H20, Apple, Disney, Warner Bros Discovery, Paramount, NBCUniversal (Comcast), Blackstone, Amazon, Rivian Automotive, Southwest Airlines, Exxon, Chevron, 3M Co, Chewy, C.H. Robinson, LG Electronics & Magna feature in this press review! + + + + +  + +  +  +  +  +  diff --git a/news/AMZN/2023.01.04/Microsoft shares lag Big Tech peers as growth worries prompt UBS downgrade.txt b/news/AMZN/2023.01.04/Microsoft shares lag Big Tech peers as growth worries prompt UBS downgrade.txt new file mode 100644 index 0000000000000000000000000000000000000000..b2009a054b129f2b5bfd3c1cdc9319982b973f62 --- /dev/null +++ b/news/AMZN/2023.01.04/Microsoft shares lag Big Tech peers as growth worries prompt UBS downgrade.txt @@ -0,0 +1 @@ +After years of rapid growth in the cloud business that made Microsoft an investor darling, the Satya Nadella-led software giant is now battling lower spending by businesses reeling with rising borrowing costs.Microsoft's Azure cloud unit "is entering a steep growth deceleration that could prove to be worse in FY23/FY24 than investors are modeling," lead analyst Karl Keirstead warned, adding the market could be reaching saturation. UBS lowered the stock to "neutral" from "buy" and cut the price target by $50 to $250. That is lower than the median of $290 and the average "buy" rating from more than 50 analysts, according to Refinitiv data.Microsoft's stock hit a near two-month low of $226, making it the biggest loser on the benchmark S&P 500 index. It had lost 29% of its value in 2022, but outperformed Big Tech peers such as Alphabet Inc and Amazon.com Inc in a dismal year for the rate-sensitive sector.Declining spending on enterprise software from companies cutting costs and slashing jobs could also weigh on Microsoft's Office 365 business this year, Keirstead said. "We don't have as much confidence in the stock ... (at current valuation) to see much (if any) multiple expansion," he said.Shares of Amazon were also down 2% after UBS lowered the price target on the stock to $125 from $165 on concerns over slowing cloud growth. (Reporting by Yuvraj Malik in Bengaluru; Editing by Arun Koyyur) \ No newline at end of file diff --git "a/news/AMZN/2023.01.04/Salesforce to cut 10% of workforce after hiring \"too many people\".txt" "b/news/AMZN/2023.01.04/Salesforce to cut 10% of workforce after hiring \"too many people\".txt" new file mode 100644 index 0000000000000000000000000000000000000000..110157826fd4c1b51d7b418f067ea443381b5e97 --- /dev/null +++ "b/news/AMZN/2023.01.04/Salesforce to cut 10% of workforce after hiring \"too many people\".txt" @@ -0,0 +1,30 @@ +Jan 4 (Reuters) - Salesforce Inc said it plans +to cut jobs by 10% and close some offices, after rapid pandemic +hiring left it with a bloated workforce amid an economic +slowdown.The cloud-based software firm said on Wednesday the job cuts +would lead to about $1.4 billion to $2.1 billion in charges, +while only about $800 million to $1 billion will be recorded in +the fourth quarter.Companies from Meta Platforms Inc to Amazon.com Inc +have slashed thousands of jobs in the past year, in +preparation for a recession, expected as a result of aggressive +interest rate hikes by global central banks to curb inflation.Businesses that relied on cloud services during the pandemic +are now trying to reduce expenses and are delaying new projects, +hurting companies such as Salesforce and Microsoft Corp +."The environment remains challenging and our customers are +taking a more measured approach to their purchasing decisions," +Salesforce co-Chief Executive Officer Marc Benioff said in a +letter to employees."As our revenue accelerated through the pandemic, we hired +too many people leading into this economic downturn we're now +facing, and I take responsibility for that."Salesforce had nearly 80,000 employees at the end of the +third quarter, up from about 70,000 a year earlier.The company said in its quarterly regulatoryfilingthat it increased headcount "to meet the higher demand for +services."Salesforce shares were up 3% on Wednesday. They lost roughly +half their value in 2022 as Salesforce posted four consecutive +quarters of slowing growth."It (the company) is certainly not alone as the sector has +grappled with a demand environment that has meaningfully +softened over the last 12 months," William Blair analyst Arjun +Bhatia said.The move puts Salesforce in a good position to meet its 2026 +target of 25% operating margin but the macro backdrop could pose +risk to its $50 billion revenue target, Bhatia said."There is high likelihood of right-sizing by other software +firms," RBC Capital Markets analyst Rishi Jaluria said.(Reporting by Nivedita Balu in Bengaluru; Additional reporting +by Tiyashi Datta, Akash Sriram and Yuvraj Malik; Editing by +Vinay Dwivedi, Shounak Dasgupta and Shinjini Ganguli) \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Alexa, help! Amazon partners with EVgo to ease EV charging pain.txt b/news/AMZN/2023.01.05/Alexa, help! Amazon partners with EVgo to ease EV charging pain.txt new file mode 100644 index 0000000000000000000000000000000000000000..b1a5021109201dd1b132bd26a07fb9c8299efb3b --- /dev/null +++ b/news/AMZN/2023.01.05/Alexa, help! Amazon partners with EVgo to ease EV charging pain.txt @@ -0,0 +1 @@ +Announced on Thursday at the 2023 Consumer Electronics Show in Las Vegas, the new service aims to streamline the process of locating, initiating and paying for a charging session -- still pain points for many EV drivers -- according to EVgo, one of the nation's largest EV charging network operators.When it launches later in 2023, the Alexa-assisted EV charging service will connect drivers to more than 150,000 U.S. public charging stations through EVgo's PlugShare map.The service will let drivers find charging stations operated by EVgo and other operators. If an EVgo station is selected, drivers then schedule and initiate a charging session and complete payment through the Alexa mobile app.EVgo said customers eventually will be able to view real-time charger availability and view session and billing information.Amazon said the service will be available on vehicles equipped with Alexa and accessories like its Echo Auto. (Reporting by Paul Lienert in Detroit; Editing by Sandra Maler)By Paul Lienert \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Amazon Com : and Disney team up to launch an entirely new, Alexa-enabled experience for fa...txt b/news/AMZN/2023.01.05/Amazon Com : and Disney team up to launch an entirely new, Alexa-enabled experience for fa...txt new file mode 100644 index 0000000000000000000000000000000000000000..edc889fcfb98fe737ce16ccc731d04c091923c7a --- /dev/null +++ b/news/AMZN/2023.01.05/Amazon Com : and Disney team up to launch an entirely new, Alexa-enabled experience for fa...txt @@ -0,0 +1,91 @@ + + + First-of-its-kind collaboration will bring the best of Disney, Pixar, and 'Star Wars' characters to your home and Disney Resort hotel rooms with the help of Amazon's Alexa. + + + + You'll soon be able to experience the magic of Disney in a new way-both at home and in select Disney Resort hotel rooms. The Hey Disney! experience launches later this year, but Amazon offered the public the first sneak peek during a live demonstration at the Consumer Electronics Show (CES) in Las Vegas. + + + Hey Disney! is a first-of-its-kind voice assistant that will give customers access to a wide range of Disney magic through Echo devices at home and as a complimentary service at select Disney Resorts hotels. Disney built the experience using the Alexa Custom Assistant, a voice AI foundation upon which the company could easily create its own custom voice assistant that coexists with Alexa. This new voice assistant, termed the "Disney Magical Companion," is the voice of Hey Disney! + + + The service will be available for purchase in the U.S. in the coming months. Customers who have purchased and enabled it can say, "Hey Disney!"-a new wake word Amazon created-to enjoy experiences featuring more than 20 Disney, Pixar, and Star Wars characters. Customers can interact with these fan-favorites-like Mickey Mouse, Dory from Finding Nemo, and Olaf from Frozen-to hear an array of jokes, play trivia, listen to soundscapes, and more. + + + How does Hey Disney! work? + + + Customers will access the service through Echo smart speakers at home and Disney Resort hotel rooms. Guests staying in select Walt Disney World and Disneyland Resort hotels will be able to ask questions about park hours, request fresh towels, and access other helpful features. + + + Hey Disney! will also feature support for Disney's MagicBand+, the smart and interactive wearable device that visitors use at Walt Disney World and Disneyland Resort to interact with shows, enter the park, redeem Lightning Lane access, and more. For example, when you answer trivia questions, MagicBand+ transforms into a game show-style buzzer and reacts with lights and vibrations. It will even light up and buzz when your alarm or timer goes off. + + + An entirely new experience for Disney fans + + + "As a first-of-its-kind voice assistant, Hey Disney! continues Disney's long tradition of using technology to provide the coolest, most convenient experiences to make your visit better," said Dan Soto, Disney's vice president of technology and digital. "We're always looking for new ways to open the door to even more stories, making them richer, more immersive, and forever memorable to guests and fans, whether they are at home or visiting Disney Parks. We can't wait for fans and families to discover all the surprising and delightful interactions we've built into this experience." + + + +3 startups backed by Amazon's Alexa Fund on display at CES 2023 + + + Innovations backed by the venture fund use ambient intelligence to conserve water and help improve lives. + + +Read more + + + + If you ask Hey Disney! for the weather, Olaf from Frozen might tell you it's cold out. Or if you're in the mood to cook a nice meal, you can ask Hey Disney! to play the soundscape from Ratatouille. + + + Dana Alia, a senior manager on the Alexa team, said Disney wanted to delight fans in a new way. "Disney was really focused on making something that brings you into their resort experience in a way that hadn't been done before," she said. + + + The goal to create a new, unique experience also came with challenges. "In a lot of collaborations, there's a template. You've done something similar before," said Erin Egan, who leads the collaboration for Amazon. "In this case, we were both starting from blank. This added complexity but meant we had the freedom to define it." + + + An innovation in storytelling + + + Aaron Rubenson, a vice president of Alexa, said customer education was another important challenge. "One of the fun areas for innovation was imagining how we were going to teach people about the feature," he said. + + + His team helped Disney build an introduction that guides fans and helps them get started. The team added various hints for users as they interact with Hey Disney!, like prompts to hear jokes or play trivia. The hints help to make sure customers at home and in the resort get the most out of the experience. + + + "Disney is the master storyteller, and its stories are so powerful for so many people," Rubenson said. "Now people can keep talking to a character and continue with the storyline when they go back to their room at the end of the day-or when they go home when the vacation is over. It's gratifying to imagine that we're a part of literally bringing that magic home." + + + Disney began installing Echo family devices with Hey Disney! in limited hotel rooms at Disney's Polynesian Village Resort. Hey Disney! will also be available for customers to purchase soon in the U.S. in the Alexa Skills Store or included with an Amazon Kids+ subscription in the coming months. + + + + + Related Tags + + +Amazon EchoDevicesSmart homeInnovationAlexa + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amazon.com Inc. published this content on 05 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 January 2023 14:07:06 UTC. + + diff --git a/news/AMZN/2023.01.05/Amazon layoff signals more pain for tech sector as recession fears mount.txt b/news/AMZN/2023.01.05/Amazon layoff signals more pain for tech sector as recession fears mount.txt new file mode 100644 index 0000000000000000000000000000000000000000..2751bb02aed5790806798d73b7e3e0a05dc7a93d --- /dev/null +++ b/news/AMZN/2023.01.05/Amazon layoff signals more pain for tech sector as recession fears mount.txt @@ -0,0 +1 @@ +As a demand boom during the pandemic rapidly turns into bust, tech companies shed more than 150,000 workers in 2022, according to tracking site Layoffs.fyi, a number that is growing as growth in the world's biggest economies start to slow."More layoffs are certainly possible ... given the scale of investment we saw in 2020-21, we would probably think that some degree of caution is probably appropriate," said Russ Mould, investment director at AJ Bell.Coming out of a global pandemic, job cuts in 2022 surged 649% from 2021, led by for technology companies, according to executive coaching firm Challenger, Gray & Christmas, Inc.The drop in demand amid a steep rise in borrowing costs has led several executives from the sector to admit they hired in excess during the COVID-19 crisis.Meta Platforms Inc axed 11,000 jobs last year, with Chief Executive Mark Zuckerberg saying he had wrongly expected that the pandemic boom would keep on going.Tech giants Microsoft and Google-parent Alphabet have already hinted at cost-cuts, including layoffs.Salesforce Inc top boss Marc Benioff said on Wednesday the enterprise software company had hired "too many people" as he announced plans to cut 10% of the jobs. For Amazon, growth in its cloud unit that brings most of its profit has slowed as businesses cut back spending, while its online retail unit is reeling from strained consumer budgets due to rising prices. The growing crisis has brought back memories of the dot-com bubble at the start of the century and the 2008 financial crisis when tens of thousands lost jobs. "Some of us will remember 2000 to 2003 after a massive bubble fed by cheap money, high investor expectations and plentiful cash," said Mould. "Whether we see a repetition or not will be very interesting as there is a danger of that." (Reporting by Nivedita Balu, Yuvraj Malik and Bansari Mayur Kamdar in Bengaluru; Editing by Arun Koyyur) \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Amazon to cut more than 18,000 jobs, CEO says.txt b/news/AMZN/2023.01.05/Amazon to cut more than 18,000 jobs, CEO says.txt new file mode 100644 index 0000000000000000000000000000000000000000..10470c52c7cc941585d2761105ee270817955b0a --- /dev/null +++ b/news/AMZN/2023.01.05/Amazon to cut more than 18,000 jobs, CEO says.txt @@ -0,0 +1 @@ +(Alliance News) - Amazon.com Inc announced Wednesday it will cut more than 18,000 jobs from its workforce, citing "the uncertain economy" and the fact that the online retail giant had "hired rapidly" during the pandemic."Between the reductions we made in November and the ones we're sharing today, we plan to eliminate just over 18,000 roles," said CEO Andy Jassy in a statement to his staff. The company had announced 10,000 layoffs in November.Jassy said the company's leadership was "deeply aware that these role eliminations are difficult for people, and we don't take these decisions lightly. "We are working to support those who are affected and are providing packages that include a separation payment, transitional health insurance benefits, and external job placement support," he said.Some of the layoffs would be in Europe, Jassy said, adding that the impacted workers would be informed starting on January 18. He said the sudden announcement was being made "because one of our teammates leaked this information externally.""This year's review has been more difficult given the uncertain economy and that we've hired rapidly over the last several years," Jassy said.But he added that "Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so." The retailer had indeed hired with a vengeance during the pandemic to meet an explosion in demand for deliveries, doubling its global staff between the beginning of 2020 and the beginning of 2022. The group had 1.54 million employees worldwide at the end of September, not including seasonal workers recruited during periods of increased activity, particularly during the holiday season.Amazon's job-slashing plan is the largest among recent workforce reductions that have impacted the US tech sector. It is also the largest in the Seattle-based company's history. Amazon saw its net profit drop nine percent year on year in the third quarter. And for the last quarter, Amazon anticipated in November anemic growth by its standards, between two and eight percent over one year, and an operating profit of between 0 and 4 billion dollars, against 3.5 for the same period of 2021. The group is due to announce its annual results on February 1. In the tech sector, major platforms with an advertising-based business model are facing budget cuts from advertisers, who are reducing expenses in the face of inflation and rising interest rates. Meta Platforms Inc, the parent company of Facebook, announced in November the loss of 11,000 jobs, or about 13% of its workforce. At the end of August, Snapchat let go about 20% of its employees, around 1,200 people.Twitter was bought in October by billionaire Elon Musk, who promptly fired about half of the social media platform's 7,500 employees. Also, the IT group Salesforce.com Inc, which specializes in management solutions and in cloud technology, announced on Wednesday that it was laying off around 10% of its employees, or just under 8,000 people.source: AFPCopyright 2023 Alliance News Limited. All Rights Reserved. \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Big tech layoffs may further disrupt equity and diversity efforts.txt b/news/AMZN/2023.01.05/Big tech layoffs may further disrupt equity and diversity efforts.txt new file mode 100644 index 0000000000000000000000000000000000000000..cc510e82bf7fd1a3c3545aa3054b0de01324dbc3 --- /dev/null +++ b/news/AMZN/2023.01.05/Big tech layoffs may further disrupt equity and diversity efforts.txt @@ -0,0 +1 @@ +Surging firings by technology companies last year are disproportionately affecting women and mid-career talent which may make it more difficult to improve diversity in one of the most sought-after industries, according to data from a research firm.In recent years, U.S. tech majors have stepped up hiring and made diversity, equity and inclusion (DEI) a priority. But as the industry grapples with over-hiring since mid-2020, rising interest rates and changes in business and consumer behavior, tech companies have announced deep cuts, risking their diversity efforts.Amazon.com Inc's layoffs will now include more than 18,000 roles as part of a workforce reduction it previously disclosed, its CEO said on Wednesday. That comes to about 6% of its corporate workforce. Salesforce Inc said on Wednesday it planned to eliminate about 10% of its staff. The rare shakeup in big tech companies risks further disrupting diversity pledges that have already grown stagnant as companies de-emphasize DEI efforts.Companies including Meta Platforms Inc, Amazon.com, Twitter Inc and Snap Inc have together cut over 97,000 jobs in 2022 to deal with the slowing economy and shareholder pressures, according to a report from employment firm Challenger, Gray & Christmas Inc. That is up 649% from 2021.Women and Latino workers represent 46.64% and 11.49%, respectively, of the tech layoffs from September to December 2022, while those segments make up 39.09% and 9.96%, respectively, of the entire industry, according to data from Revelio Labs Inc, a startup that analyzed data from tech layoff tracker Layoffs.fyi and talent database Parachute List by Rocket.Women, Latino workers hit hardest in tech layoffs: https://www.reuters.com/graphics/AMAZON-LAYOFFS/DIVERSITY/gkplwwrbbvb/chart.pngMid-career talent is also overrepresented in layoffs, said Reyhan Ayas, Revelio Labs senior economist.Meta, for instance, committed in 2019 to doubling the number of Black and Hispanic employees in its U.S. workforce as well as doubling the number of women in its global workforce by 2024. Donald Tomaskovic-Devey, sociology professor at the University of Massachusetts Amherst, who studied U.S. Equal Employment Opportunity data for 2008-2016, found that about 7% of tech firms are actively trying to diversify their workforce.Tomaskovic-Devey said if the same pattern holds, the current round of layoffs will lead to fewer women and non-Asian minorities in tech firms and further entrench the dominance of white and Asian males in the industry. Twitter was hit with a lawsuit that claimed the social media company disproportionately targeted female employees in layoffs.Snap and Twitter did not respond to requests for comment. Meta declined to comment. DISRUPT DIVERSITYBlack and Asian talent has been less affected by the job cuts but the unexpected layoffs in tech may make it more difficult to attract diverse early-career talent to "the cool kid on the block" or well-known tech companies, said Morgan DeBaun, CEO of Blavity Inc, which hosts the largest annual Black tech conference, AfroTech. This will disrupt diversity efforts even further, said Benjamin Juarez, a recruiting consultant and co-founder of Latinos in Tech. Underrepresented talent will face increased competition for entry-level roles as experienced workers settle for those jobs, he added.Entry-level jobs often present the best option for diverse candidates to get a foothold in the tech industry."Someone looking to break in to tech for the first time should anticipate that it could be a long road," said Amanda Daering, co-founder of HR consulting firm Newance which builds finance and tech teams at startups. Companies have made cuts to budgets allocated to make workplaces more diverse, said Nadiyah Johnson, CEO of Milky Way Tech Hub, which helps corporations source diverse candidates. "There's been patterns of pushing back projects that at one point in time were a priority, especially the first year or two since the George Floyd murder," she said. Still, some are hopeful.Latinos in Tech's Juarez said he is hopeful that massive layoffs will give rise to minority led-startups, his preferred solution to the stagnant DEI efforts."We want to increase the amount of Latinos in the tech space but we're starting to see that some of these DEI efforts just don't work and we just need to essentially build our own path." (Reporting by Doyinsola Oladipo in New York; Editing by Denny Thomas and Matthew Lewis)By Doyinsola Oladipo \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Federal Court Stays Class Action In : Difederico v. Amazon.txt b/news/AMZN/2023.01.05/Federal Court Stays Class Action In : Difederico v. Amazon.txt new file mode 100644 index 0000000000000000000000000000000000000000..9ebde9db3d2ea80482c34e1288162b9b5d36e7dc --- /dev/null +++ b/news/AMZN/2023.01.05/Federal Court Stays Class Action In : Difederico v. Amazon.txt @@ -0,0 +1,14 @@ +This article was first published on December 21, 2022 in the Ontario Bar association's Class Actions Law section, available here.In Difederico v. Amazon.com, Inc, 2022 FC 1256, the Federal Court enforced an arbitration agreement in Amazon's Conditions of Use to stay a proposed price-fixing class action against the company. This decision is the latest in a growing body of case law in which Canadian courts have held that arbitration agreements and class action waivers in standard form terms of use are binding on potential class members.The proposed class action alleged that Amazon had breached the Competition Act by conspiring with third-party sellers to fix the prices of their products on Amazon's platforms. Ms. Difederico sought to represent the portion of the class who purchased products on Amazon's e-commerce platforms. Amazon brought a motion to stay the claim by the e-commerce class in favour of arbitration.In granting the stay, the Federal Court set out a three-part test to determine whether a stay should be granted in recognition of an arbitration clause:The Court concluded that there was a binding arbitration agreement in place that would cover the proposed class's e-commerce purchases, and that there were no exceptional grounds on which to deny the stay. The Court also held that any challenge to the jurisdiction of the arbitrator or the validity of the arbitration clause was to be argued before the arbitrator.The arbitration agreementThe Federal Court held that there could be "no serious debate" that an arbitration agreement was in place: the plaintiff was notified of and agreed to Amazon's Conditions of Use, which included the arbitration clause, each time she "clicked through" to make an account or complete a purchase. The plaintiff made numerous purchases and continued to make purchases even after the claim was issued. The Court found that the Conditions of Use were accessible via hyperlink and users could take as much time as they wanted to review them. Similarly structured arbitration clauses have been found to be adequate notice to consumers.The claim fell within the scope of the arbitration agreementThe Federal Court held that the threshold at this stage is low: it must be "arguable" that the dispute falls within the scope of the agreement. In this case, the arbitration agreement was broad and covered all matters that pertain to purchases made on Amazon.ca.No grounds on which to refuse the stayHaving concluded that the proposed class action fell within the scope of a valid arbitration agreement, the Federal Court considered whether there were exceptional circumstances which justified refusing the stay but found none.The Federal Court acknowledged the general rule that challenges to the validity of an arbitration agreement or jurisdiction of the arbitrator are to be referred to the arbitrator. The exceptions to that rule arise where:The plaintiff argued that the third exception applied in this case, because the arbitrator could not apply the Competition Act. The arbitration agreement instead required the application of US law, which would prevent access to remedies available under the Competition Act. The plaintiff also argued that arbitration in the US without a class action would be prohibitively expensive. For these reasons, she said the arbitration agreement would prohibit access to justice, was contrary to public policy and unconscionable.The Federal Court held that it must be "clear on the record" that referral to arbitration would raise a real prospect of denial of access to justice and that it was not so clear that no relief would be available to the plaintiff if it proceeded to arbitration. Nor was it clear on the evidence that the choice of law clause would deny access to justice. The Court did not accept that access to justice would be denied because of the cost of proceeding with arbitration in the US.In considering whether the arbitration agreement was contrary to public policy, the Federal Court looked at whether the Competition Act included any legislative intervention that would prevent class action waivers or arbitration clauses. Finding none, and no such intervention in US law, the Court concluded that the legislative scheme did not favour a finding that the arbitration agreement was contrary to public policy.Finally, the arbitration agreement was not unconscionable. There was no clear inequality of bargaining power in the consumer contract between the plaintiff and Amazon and the bargain was not improvident at the time it was made.Looking aheadThis decision is a positive one for defendants who look to the courts to enforce their terms and conditions of use when litigation arises. While the courts will consider arbitration agreements and class action waivers on the unique circumstances of each case, Difederico confirms that in the absence of exceptional circumstances, those terms should prevail.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Irfan Kara +Torys LLP +79 Wellington St. W. +Box 270, TD South Tower +Toronto +Ontario +M5K 1N2 +CANADA +Tel: 416865 0040 +Fax: 416865 7380 +E-mail: Jweed@torys.com +URL: www.torys.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Futures muted as Fed minutes confirm more tightening ahead.txt b/news/AMZN/2023.01.05/Futures muted as Fed minutes confirm more tightening ahead.txt new file mode 100644 index 0000000000000000000000000000000000000000..621aa24a3b195d757e7f02f7ce2d80f0367ebe31 --- /dev/null +++ b/news/AMZN/2023.01.05/Futures muted as Fed minutes confirm more tightening ahead.txt @@ -0,0 +1 @@ +Wall Street's main indexes erased some of their gains on Wednesday after meeting minutes showed the Fed was laser-focused on fighting inflation even as officials agreed to slow the interest rate hiking pace to limit risks to economic growth."The meeting minutes suggested 'more evidence' is needed to confirm inflation is under control," said Victoria Scholar, head of investment at Interactive Investor."Consequently, the Fed is expected to continue raising interest rates, with hawkish policy a continued headwind for equities into 2023."Money market participants now expect a 60.5% chance of a 25-basis point rate hike to 4.50%-4.75% in February, but still see rates peaking just below 5% by June.Investors will closely monitor more jobs data due before the opening bell, including the ADP National Employment report, which is expected to show the private sector added more jobs in December than a month ago.This comes a day after data showed a moderate fall in U.S. job openings, indicating a still tight market.The more comprehensive nonfarm payrolls report is due on Friday, with investors hoping to see signs of cooling in the labor market that could give the Fed some reason to slow its monetary tightening.At 6:03 a.m. ET, Dow e-minis were up 13 points, or 0.04%, S&P 500 e-minis were up 3.25 points, or 0.08%, and Nasdaq 100 e-minis were up 13.5 points, or 0.12%.Shares of Amazon.com Inc jumped 2.8% in premarket trading after Chief Executive Andy Jassy said layoffs will now increase to more than 18,000 roles as part of a workforce reduction it previously disclosed. (Reporting by Shubham Batra, Bansari Mayur Kamdar and Ankika Biswas in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Got game? Automakers show off in-car entertainment options at CES.txt b/news/AMZN/2023.01.05/Got game? Automakers show off in-car entertainment options at CES.txt new file mode 100644 index 0000000000000000000000000000000000000000..48140e8e44867abcdc8476c4deeaae4d5dfe00cc --- /dev/null +++ b/news/AMZN/2023.01.05/Got game? Automakers show off in-car entertainment options at CES.txt @@ -0,0 +1 @@ +Automakers from Sony Honda to Hyundai are introducing ways at the CES 2023 technology trade show this week to reshape the in-car entertainment experience, including offering video games during the rides. They are positioning themselves to take advantage of the time people spend in their cars as a source of potentially lucrative, recurring revenue. "This is a field which can be deployed very quickly," Dirk Hilgenberg, head of Volkswagen AG's CARIAD software unit, told Reuters at CES. "You could just host the third-party app for a streaming service, or generate joint platforms. You guarantee certain volumes, you guarantee certain revenue."While car radios have been an entertainment staple in vehicles for decades, Tesla vehicles have reset consumer expectations with the ability to watch popular video streaming services, such as Netflix, YouTube and Hulu, while the vehicle is parked and charging. In December, Tesla issued a "holiday update" to its software to add access to 1,000 PC games through the Steam platform. Other automakers have followed suit. In October, BMW announced a partnership with AirConsole to bring casual gaming into its vehicles. Stellantis last year announced plans to add Amazon.com Inc's Fire TV for Auto to its new Wagoneer and Grand Wagoneer SUVs. In Las Vegas, South Korean carmaker Hyundai Motor Co said it would use technology developed by Nvidia Corp, a company whose chips power PC gaming, to stream games in cars. Nvidia's cloud-based game service, known as GeForce Now, would provide access to more than 1,000 titles from PC game stores such as Steam, as well as free-to-play games such as Fortnite. China's BYD and Swedish electric vehicle brand Polestar also are working with Nvidia.Japan's Sony, the maker of the market-leading PlayStation video game console, on Wednesday at CES said its newly christened electric vehicle, Afeela, would be powered by the same Unreal Engine 3D technology used in video games. Sony promised "best in class" movies, games and music, though it offered few details on the vehicle it is developing jointly with Honda Motor Co."In order to realize intelligent mobility, continuous software updates and high-performance computing are required," Yasuhide Mizuno, chief executive of Sony Honda Mobility, told the trade show. The auto industry has been grappling with how to introduce these new features safely, and restrict use to passengers while the vehicle is in operation. Tesla became the focus of regulators in 2021 following reports that one feature allowed drivers to play games on the cars' tablet-like touch screen. Tesla disabled the feature while the car was in motion.Hilgenberg said Volkswagen is developing vehicles that can drive themselves on the highway or in traffic jams, which could give drivers and passengers more time to view videos or play games. But those vehicles will have safety systems that could shut down gaming or video displays to the driver if conditions made automated driving unsafe, he said.Still, these are features that consumers are demanding, so VW is at CES seeking partnerships."In some regions, we will see people say, 'You don't have that? I'm not buying," Hilgenberg said. "We will see the content ... which is provided by software enabled functionality will be a decisive factor for buying." (Reporting by Dawn Chmielewski and Joseph White in Las Vegas; Editing by Ben Klayman and Matthew Lewis)By Joseph White and Dawn Chmielewski \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Heavy discounts drive record U.S. online holiday spending - report.txt b/news/AMZN/2023.01.05/Heavy discounts drive record U.S. online holiday spending - report.txt new file mode 100644 index 0000000000000000000000000000000000000000..5a1442f653eb61c92070ef2726030450267e6b8a --- /dev/null +++ b/news/AMZN/2023.01.05/Heavy discounts drive record U.S. online holiday spending - report.txt @@ -0,0 +1 @@ +Shoppers spent a record $211.7 billion online over the holiday season, which typically starts in November and ends in December, compared with an earlier forecast of $209.7 billion, the report showed on Thursday.While U.S. online holiday sales rose, it grew at the slowest pace as consumers felt the brunt of rising prices. "At a time when consumers were dealing with elevated prices in areas such as food, gas, and rent, holiday discounts were strong enough to sustain discretionary spending through the entire season," said Vivek Pandya, lead analyst, Adobe Digital Insights.Companies ranging from Amazon.com Inc, Target Corp, Walmart Inc to Best Buy Co Inc offered early discounts to spur demand and get rid of excess stock.Adobe Analytics, which measures e-commerce by tracking transactions at websites, has access to data covering purchases at 85% of the top 100 internet retailers in the United States.Majority of the discounts were for toys, where discounts peaked at 34% off listed price versus 19% last year, as well as electronics that saw discounts as high as 25% compared with 8% last year, according to the report.A big chunk of the holiday sales came during the Cyber Week - the five days between Thanksgiving and Cyber Monday - where consumers spent a total of $35.3 billion online, the report said. (Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Shinjini Ganguli) \ No newline at end of file diff --git a/news/AMZN/2023.01.05/IMDb Helps Audiences Share and Discover Movie and TV Content With New TikTok Feature.txt b/news/AMZN/2023.01.05/IMDb Helps Audiences Share and Discover Movie and TV Content With New TikTok Feature.txt new file mode 100644 index 0000000000000000000000000000000000000000..08f5a02244da6217dc097d098c379f2d32fd6187 --- /dev/null +++ b/news/AMZN/2023.01.05/IMDb Helps Audiences Share and Discover Movie and TV Content With New TikTok Feature.txt @@ -0,0 +1,17 @@ + +IMDb (www.imdb.com), the world’s most popular and authoritative source for information on movies, TV shows, and celebrities, and TikTok (www.tiktok.com), the leading destination for short-form mobile video, today announced a new collaboration to help the TikTok community share and discover movie and TV content and information. + +Powered by IMDb, the world’s most popular and authoritative source for movie and TV content, TikTok has launched a new feature that allows users to link to movie and TV titles directly within the videos they create. The link directs people to a dedicated in-app page that showcases a collection of other videos that linked to the same title and highlights essential data about the movie or TV show, provided by IMDb, including top cast members, director, genre, release date, runtime, and user rating. Users can also add movies and TV shows to the favorites tab of their profiles, allowing followers to access the titles’ information from IMDb. People can link up to five movies and/or TV show titles in a single video. At this time, the feature is available to users in the U.S. and the United Kingdom. + +“We’re excited to welcome TikTok as the latest major company to rely on IMDb data to power new experiences for their customers,” said Nikki Santoro, chief operating officer of IMDb. “This innovative collaboration enables TikTok creators to showcase and share the movies and shows they love, further extending the IMDb mission to help customers discover and decide what to watch and listen to, wherever they are.” + +"TikTok's global community of movie and TV enthusiasts is incredibly active and passionate, with more than 25 billion combined views for the hashtags #FilmTok, #MovieTok, and #TVTok," said Grace Li, director of strategic partnerships at TikTok and ByteDance. "As we continue to find new ways to enrich the TikTok experience, this new feature, developed in collaboration with IMDb, gives our community more opportunities to discover, create, and share the content they love.” + +Before publishing a video on TikTok, users will see an option to “add link.” They can then search “movie and TV” and look up any of the more than 12 million titles available on IMDb. Once they have selected their desired title(s), they can “add to video” to return to the post page. Once they “post” their video, the selected title(s) will be featured above the caption in the video. Clicking the displayed link will direct them to a page with more information about the linked title along with other videos that have tagged the same title. + +TikTok’s licensing of IMDb data and information is fulfilled through AWS Data Exchange, a service that makes it easy for millions of Amazon Web Services (AWS) customers to securely find, subscribe to, and use third-party data in the cloud. Essential metadata for every movie, TV, and over-the-top (OTT) series and video game title is available for licensing through IMDb via AWS Data Exchange. Major businesses worldwide rely on the vast and authoritative IMDb database to improve their own customers’ experience, power investment decisions, shape sentiment analysis, inform content acquisition strategies, and much more. Learn more at developer.imdb.com. + +About IMDb + +IMDb is the world's most popular and authoritative source for information on movies, TV shows, and celebrities. Products and services to help fans decide what to watch and where to watch it include: the IMDb website for desktop and mobile devices; apps for iOS and Android; and X-Ray on Prime Video. IMDb also produces IMDb original video series and podcasts. For entertainment industry professionals, IMDb provides IMDbPro and Box Office Mojo. IMDb licenses information from its vast and authoritative database to third-party businesses worldwide; learn more at developer.imdb.com. IMDb is an Amazon company. For more information, visit imdb.com/press and follow @IMDb. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230104005973/en/ \ No newline at end of file diff --git a/news/AMZN/2023.01.05/MarketScreener's World Press Review: January 5, 2023.txt b/news/AMZN/2023.01.05/MarketScreener's World Press Review: January 5, 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..48f87d42606deb4762290f15e933436d371966c8 --- /dev/null +++ b/news/AMZN/2023.01.05/MarketScreener's World Press Review: January 5, 2023.txt @@ -0,0 +1,11 @@ + +Next, Glencore, HSBC, Legal & General, Dignity, B&M European Value Retail, Ryanair, Meta, Shopify, Microsoft, Amazon, Salesforce, Coinbase, BlackRock, Dell, Walgreens Boots Alliance, CVS Health, Rite Aid, Cineworld, Apple, Foxconn, Luxshare Precision, Sony, Qualcomm, Honda, Alphabet feature in this press review! + + + + +  + +  +  +  diff --git a/news/AMZN/2023.01.05/Marketmind: Minutes come, minutes go.txt b/news/AMZN/2023.01.05/Marketmind: Minutes come, minutes go.txt new file mode 100644 index 0000000000000000000000000000000000000000..8cacc93ab9868e98d7736547bc73a427594db1e0 --- /dev/null +++ b/news/AMZN/2023.01.05/Marketmind: Minutes come, minutes go.txt @@ -0,0 +1 @@ +The eagerly-anticipated Fed minutes arrived and failed to surprise, with markets broadly shrugging off the hawkish tone and still pining for a rate cut sometime this year.Asian shares continue their bright start to the year with investors pinning their hopes on a swift rebound of the world's second-biggest economy after China dismantled much of its stringent COVID-related curbs. Now, how fast that recovery will be is something that remains to be seen, especially with rising infections taking a toll.China's services activity shrank last month as surging COVID infections hit demand, a private-sector survey showed on Thursday, underscoring the challenges facing the country. While the road to recovery is likely to be a long and winding one, the optimism around the reopening has boosted sentiment, with business confidence at a 17-month high.And so MSCI's broadest index of Asia-Pacific shares outside Japan is hovering at a four-month high and set for a fourth straight day of gains, while the U.S. dollar tries to find its footing after a volatile first four days of the year. Market focus will switch to Friday's U.S. payrolls data but before that a clutch of European data could provide more clues as to where inflation is headed in Europe. French inflation, which unexpectedly dropped below 7%, added to the hope that the worst of the cost-of-living crisis in Europe is over.Over in the corporate world, the tech industry's layoffs, which amounted to more than 150,000 workers in 2022, don't seem to end. Salesforce Inc says it plans to eliminate about 10% of staff, while Amazon.com will cut more than 18,000 jobs.Key developments that could influence markets on Thursday: Economic events: Eurozone producer prices for November, December S&P PMI data for Eurozone, Germany and France (Reporting by Ankur Banerjee; Editing by Jacqueline Wong) \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Next, Greggs and B&M saw festive cheer.txt b/news/AMZN/2023.01.05/Next, Greggs and B&M saw festive cheer.txt new file mode 100644 index 0000000000000000000000000000000000000000..2402acc0ccebc40c3472b77bdd5c16cd887b10dc --- /dev/null +++ b/news/AMZN/2023.01.05/Next, Greggs and B&M saw festive cheer.txt @@ -0,0 +1 @@ +(Alliance News) - Stocks in London are set to open lower on Thursday in the wake of Federal Open Market Committee meeting minutes released on Wednesday.The December meeting minutes indicated that further rate hikes would be "appropriate" for the Federal Reserve to contain "unacceptably high" inflation which remain "well above" the committee's target of 2%.A slowing of rate hikes should not be seen as a "weakening of resolve" in the fight against inflation, the central bank cautioned. In the UK, Prime Minister Rishi Sunak vowed that a recession-bound Britain will emerge from its winter of discontent with economic growth, lower inflation and shorter hospital waiting lists.Sunak issued a five-point list of promises for 2023, vowing to bring down the national debt, and pass new legislation to stop boatloads of migrants crossing the Channel from France.Elsewhere, China said it would begin to normalise travel between the mainland and Hong Kong from Sunday.Data also revealed that the nation's service sector remained in a downturn, though the rate of the decline was only modest overall. The latest Caixin business activity index rose to 48.0 points in December, from a six-month low of 46.7 in November.The in UK corporate space, clothing retailer Next upped its full-year guidance and bakery chain Greggs reported double-digit growth in fourth quarter sales.Here is what you need to know ahead of the London market open: ----------MARKETS----------FTSE 100: called down 11.99 points, or 0.2%, at 7,573.20----------Hang Seng: up 1.2% at 21,041.25Nikkei 225: closed up 0.4% at 25,820.80S&P/ASX 200: closed up 0.1% at 7,063.60----------DJIA: closed up 133.40 points, 0.4%, at 33,269.77S&P 500: closed up 28.83 points, 0.8%, at 3,852.97Nasdaq Composite: closed up 71.78 points, 0.7%, at 10,458.76----------EUR: higher at USD1.0608 (USD1.0598)GBP: lower at USD1.2022 (USD1.2054)USD: higher at JPY132.33 (JPY131.87)Gold: lower at USD1,854.10 per ounce (USD1,857.48)(Brent): higher at USD78.45 a barrel (USD78.07)(changes since previous London equities close)----------ECONOMICS----------Thursday's key economic events still to come: 11:00 CET EU PPI08:00 CET Germany foreign trade09:30 GMT UK S&P Global services PMI00:01 EST US employment outlook survey08:15 EST US ADP national employment report08:30 EST US international trade 08:30 EST US unemployment insurance weekly claims report 11:00 EST US services PMI16:30 EST US federal discount window borrowings16:30 EST US Foreign Central Bank holdings----------Christmas shoppers provided UK retail and hospitality with a crucial boost despite the cost-of-living crisis and rail strikes, figures show. Shopper footfall in December was up 5.8% on the month before and 9.9% higher than a year before, while the all-important gap between pre-pandemic 2019 also narrowed to 10.9% from 11.4% in November, according to retail consultants Springboard. December footfall on high streets was 12.7% higher than in 2021, while shopping centres saw a 10.3% uplift and retail parks also enjoyed 3.6% more visitors. However, in the penultimate week before Christmas, marred by four days of rail strikes, footfall was 20.1% lower than 2019, more than doubling from 9.6% the week before.----------UK rail passengers face a third consecutive day of travel disruption on Thursday because of a strike by train drivers. Services will be crippled by the walkout by members of Aslef at 15 rail companies in a long-running dispute over pay, with some areas having no trains all day. The action follows a 48-hour strike by members of the Rail, Maritime & Transport union which led to widespread disruption across the country on Tuesday and Wednesday. The latest wave of industrial action comes as reports suggest the prime minister could announce legislation to enforce minimum service levels during strikes as soon as Thursday.----------Consumer confidence in Japan saw a boost in December, data from the Economic & Social Research Institute showed. The consumer confidence index was 30.3 in December, up 1.7 points from 28.6 in November. Overall livelihood, a category under the consumer perception indices, rose to 27.4 in December from 26.5 the previous month.----------BROKER RATING CHANGES----------Jefferies raises HSBC to 'buy' ('hold') - price target 770 (574) pence----------Exane BNP cuts Prudential to 'underperform' ('neutral')----------Jefferies raises GSK price target to 1,575 (1,475) pence - 'hold'----------COMPANIES - FTSE 100----------Clothing retailer Next increased its pretax profit guidance for the year ending January 2023 by GBP20 million to GBP860 million as a result of better than expected full price sales during the year, as well as a stronger-than-anticipated Christmas period. The guidance would represent growth of 4.5% against the year prior, if achieved. It said in the six months to December 30, full price sales were up 2.2% against the previous year. In the three months to December 30, full price sales were up 4.7% against the year prior. In the nine weeks to December 30 alone, they were up 4.8% annually. "Sales in the Christmas period have been better than we anticipated," the company explained. Next, nonetheless, said it remained "cautious" in its outlook for the year ahead, with initial guidance for the year ending January 2024 at GBP795 million for pretax profit. It also expects a full price sales decline of 1.5% in that year against the current year. During financial 2023, Next has tinkered with its guidance on several occasions. It initially forecast pretax profit of GBP860 million, but then lowered this to GBP850 million in March. It raised its outlook back to GBP860 million in August, but cut it to GBP840 million in September. ----------Retailer B&M European Value Retail reported strong momentum across its "golden" third quarter despite a challenging macroeconomic environment. In the 13-week period from September 25, revenue grew by 12% year-on-year to GBP1.57 billion. It noted a very good performance across all B&M UK categories, both in grocery and general merchandise, as well as solid momentum in B&M France and Heron Foods. As a result, full-year earnings before interest, tax, depreciation and amortisation are now expected between GBP560 million to GBP580 million, coming above current analyst outlook consensus of GBP557 million. ----------COMPANIES - FTSE 250----------Bakery chain Greggs noted strong double-digit growth in fourth quarter sales, despite the impact of adverse weather and strikes at the end of 2022. Like-for-like sales in company-managed shops grew by 18% as a result of a favourable trading pattern leading into the Christmas period and softer trading conditions in the comparable quarter of 2021 due to disruption caused by the Omicron variant of Covid. In 2022, sales totalled GBP1.51 billion, up 23% from GBP1.23 billion the previous year. Greggs said it expects its full-year results to be in line with previous expectations. "While market conditions in 2023 will remain challenging, our value-for-money offer of freshly-prepared food and drink is highly relevant as consumers look to manage their budgets without compromising on quality and taste," the chain said.----------OTHER COMPANIES----------Mattioli Woods reported a "resilient" trading performance in the six months ended November 30, despite a "complex" macroeconomic and geopolitical backdrop. The wealth and asset management firm reported revenue in the half totalled GBP54.9 million, up 10% against the previous year. Gross discretionary asset under management fell 4% to GBP4.9 billion. Mattioli Woods said its outlook for the full-year remains in line with expectations. Chief Executive Ian Mattioli said: "The group delivered creditable revenue and profit before tax growth in the first six months of this financial year, despite the difficult economic and political complexities that persisted throughout the period."----------Glenveagh Properties reported a strong revenue performance in 2022, driven by its Suburban business segment. The housebuilder posted revenue of EUR649 million, up 36% against the previous year. Operating profit improved to around EUR70 million from EUR50.6 million, while its gross margin fell to 17% from 17.4%. Glenveagh said it was also beginning a buyback programme to repurchase up to 10% of the firm's share capital." Looking forward, the firm said it was "very well positioned" to grow longer term revenue and profitability. It currently expects an earnings per share outturn for 2023 in line with its 2022 performance. ----------Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing "the uncertain economy" and the fact that the online retail giant had "hired rapidly" during the pandemic. "Between the reductions we made in November and the ones we're sharing today, we plan to eliminate just over 18,000 roles," said Chief Executive Andy Jassy in a statement to his staff. The company had announced 10,000 layoffs in November. Some of the layoffs would be in Europe, Jassy said, adding that the impacted workers would be informed starting on January 18. ----------By Heather Rydings, Alliance News senior economics reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AMZN/2023.01.05/NovoCure, Lamb Weston rise; RPM International, Amazon fall.txt b/news/AMZN/2023.01.05/NovoCure, Lamb Weston rise; RPM International, Amazon fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..d10043c5f00287af32e1c562e4f93986db3b10b6 --- /dev/null +++ b/news/AMZN/2023.01.05/NovoCure, Lamb Weston rise; RPM International, Amazon fall.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Thursday:Amazon.com Inc., down $2.02 to $83.12.The e-commerce giant is cutting about 18,000 positions.Bed Bath & Beyond Inc., down 72 cents to $1.69.The home goods retailer warned investors of substantial doubt about its ability to continue as a “going concern”.NovoCure Ltd., up $48.28 to $118.81.The cancer therapy technology company gave investors an encouraging update on a study of lung cancer patients.Lamb Weston Holdings Inc., up $8.55 to $96.03.The french fry maker raised its profit forecast for the year.Conagra Brands Inc., up $1.32 to $39.97.The maker of Chef Boyardee and Hunt's ketchup reported strong fiscal second-quarter financial results.RPM International Inc., down $12.85 to $85.17.The specialty chemicals company warned investors challenging economic conditions are hurting demand.Constellation Brands Inc., down $22.48 to $208.68The marketer of Corona beer and Robert Mondavi wine trimmed its profit forecast for the year.Western Digital Corp., up $2.18 to $35.23.The hard drive maker reportedly resumed deal discussions with Japan's Kioxia.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Stocks stall as firm Fed reins in China rally.txt b/news/AMZN/2023.01.05/Stocks stall as firm Fed reins in China rally.txt new file mode 100644 index 0000000000000000000000000000000000000000..a587529efc04b6def34504d05e91723c27cefcab --- /dev/null +++ b/news/AMZN/2023.01.05/Stocks stall as firm Fed reins in China rally.txt @@ -0,0 +1,77 @@ +*Fed rebuttal of rate cut bets keeps Europe's stocks +subdued*Hang Seng touches six-month top, yuan sets four-month high*Oil bounces after heavy slide on recession angst*Benchmark government bond yields tick higher after fallsLONDON, Jan 5 (Reuters) - Wall Street was set to tap the +brakes on Thursday as upbeat jobs data after a firm message from +the Fed that it won't be cutting interest rates any time soon +offset China's latest reopening plans.News that China's mainland border with Hong Kong will be +reopened after three years had sent Asian-Pacific shares outside +Japan to a four-month high overnight, but with +both the dollar and bond market borrowing costs creeping up, +Europe couldn't keep up.The pan-European STOXX was fractionally lower after +gaining more than 3% in its first three sessions of 2023 while +Wall Street futures pointed to modest falls there too.London's FTSE did manage a respectable 0.5% rise as +better-than-expected numbers from retail giant Next +lifted the entire European sector, but it barely made up +for a groggy Frankfurt and Paris."Everyone expected a hawkish message from the Fed and that +is what we got," said MUFG's Head of Research for Global Markets +EMEA, Derek Halpenny."Really it's now about payrolls (U.S. jobs data) tomorrow," +he added, explaining that the labour market will be a big factor +in how high inflation remains this year."A strong print tomorrow and I think you are going to get a +fairly rapid repricing for a 50 bps hikes at the next (Fed) +meeting."Investors were already digesting their pre-payrolls +appetiser, the ADP National Employment report, which showed the +private sector added more jobs in December than a month ago. It +came a day after a moderate fall in U.S. job openings too.Markets are clearly being tugged in different directions +though. Amazon.com jumped 2.8% in premarket trading +after it had announced plans to layoff more than 18,000 staff.China too has abruptly dropped ultra-strict curbs on travel +and activity, fanning hopes that once the infection waves pass, +its giant economic motors can start firing again and offset the +slowdowns in other parts of the world.Thursday's biggest Asian gains included E-commerce and +consumer stocks in Hong Kong thanks to the China mainland border +news, which drove the Hang Seng to a six-month high.The yuan also rose about 0.2% to 6.8750 to a +four-month high and also supported other currencies such as the +Thai baht which, as Thailand is now expected to see a +mass return of Chinese holidaymakers, has surged nearly 14% in +less than 3 months."China reopening has a big impact ... worldwide," said +Joanne Goh, an investment strategist at DBS Bank in Singapore, +since it not only spurs tourism and consumption but can ease +some of the supply-chain crunches seen during 2022."There will be hiccups on the way," Goh said, during an +outlook presentation to reporters. "We give it six months +adjusting to the process. But we don't think it's reversible."RATES WARNINGChina's central bank also said overnight it will step up +financing support to spur domestic consumption and key +investment projects and support a stable real estate market.It has eased an unofficial ban on Australian coal imports in +recent days as well and the Australian dollar made a +three-week high overnight just below $0.69. It last bought +$0.6818.Oil rebounded too after posting the biggest two-day loss for +the start of a year in three decades.Brent crude was last up $1.49, or 1.9%, to $79.32 a +barrel, while U.S. West Texas Intermediate crude futures +gained $1.40 to $74.27 an unexpected shutdown of a major U.S. +fuel pipeline also lifted prices."This morning's rebound is due to the shutdown of Line 3 of +the Colonial pipeline," said Tamas Varga of oil broker PVM. +"There is no doubt that the prevailing trend is down," though he +added. "It is a bear market".Wall Street futures were down 0.3% after the jobs data. +Minutes from the Federal Reserve's December meeting, published +on Wednesday, had contained a pointed rebuttal against rate cuts +bets that traders have priced in for late in the year.Fed committee members noted that "unwarranted easing in +financial conditions" would complicate efforts to restore price +stability."Translating Fed speak, this is a warning to markets, that +being too optimistic may ironically backfire," said Vishnu +Varathan, Mizuho Bank's head of economics in Singapore."That is, insofar that premature rate cut bets drive looser +financial conditions, the Fed may have to tighten even more to +compensate."Fed funds futures pricing shows traders think the benchmark +U.S. interest rate will peak just below 5% in May or June, +before being cut back a little bit in the second half of 2023.Benchmark 10-year Treasury yields - which move inverse to +price - were fractionally higher at 3.74% in Europe +but still down nearly 10 basis points (bps)on the week.Germany's 10-year government bond yield was last +up 3 bps at 2.32%. It too though has fallen nearly 25 bps this +week after closing out 2022 at its highest level since 2011.Preliminary inflation data from Germany, France and Spain +all showed this week that consumer prices rose at a slower pace +in December than November, following an easing in energy price +rises.In currency markets, the dollar has been wobbly as investors +navigate between the Fed's hawkish tone and the support for +riskier currencies driven by China's reopening.It was pinning down the yen again at 133.45 per +dollar, cutting the wagers that Japan's ultra-easy monetary +policy will be finally tightened this year.In Europe, unseasonably warm weather has disappointed skiers +but been a boon for a euro basking in falling gas +prices. Benchmark Dutch gas prices fell to 14-month +lows overnight and the euro was down 0.3% at $1.0568.(Additional reporting by Tom Westbrook in Singapore, Editing by +William Maclean and David Evans) \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Tech firms, Wall Street lead job cuts in Corporate America.txt b/news/AMZN/2023.01.05/Tech firms, Wall Street lead job cuts in Corporate America.txt new file mode 100644 index 0000000000000000000000000000000000000000..b0d9a8a0e25d24c508ffa9206214c918dce2923b --- /dev/null +++ b/news/AMZN/2023.01.05/Tech firms, Wall Street lead job cuts in Corporate America.txt @@ -0,0 +1,61 @@ +(Corrects to remove reference to Amazon's previous round of +layoffs. The error also occurred in previous versions)Jan 10 (Reuters) - Big Tech firms and Wall Street titans +are leading a string of layoffs across corporate America as +companies look to rein in costs to ride out the economic +downturn.Rapid interest rate hikes, weak consumer demand and an +economic slowdown in China have forced firms such as Amazon, +Walt Disney, Facebook-owner Meta and American banks to trim +their workforce.As a pandemic-led demand boom rapidly fades, tech companies +shed more than 150,000 workers in 2022, according to tracking +site Layoffs.fyi, and more layoffs are expected as growth in the +world's biggest economies start to slow.Here are some of the job cuts by major American companies +announced in recent weeks:Technology, media and telecom companies:Amazon.com Inc:The e-commerce giant said company-wide layoffs would impact +over 18,000 employees.Meta Platforms Inc:The Facebook-parent said it would cut 13% of its workforce, +or more than 11,000 employees, as it grapples with a weak +advertising market and mounting costs.Intel Corp:CEO Pat Gelsinger told Reuters "people actions" would be +part of a cost-reduction plan. The chipmaker said it would +reduce costs by $3 billion in 2023.Microsoft Corp:The software giant laid off under 1,000 employees across +several divisions in October, Axios reported, citing a source.Twitter Inc:The social media company has aggressively cut its workforce +across teams ranging from communications and content curation to +product and engineering following Elon Musk's $44 billion +takeover.Lyft Inc:The ride-hailing firm said it would lay off 13% of its +workforce, or about 683 employees, after it already cut 60 jobs +earlier this year and froze hiring in September.Salesforce IncThe software company said it would lay off about 10% of its +employees and close some offices as a part of its restructuring +plan, citing a challenging economy.Cisco Systems Inc:The networking and collaboration solutions company said it +will undertake restructuring which could impact roughly 5% of +its workforce. The effort will begin in the second quarter of +the fiscal year 2023 and cost the company $600 million.HP Inc:The computing devices maker said it expected to cut up to +6,000 jobs by the end of fiscal 2025.Financial firms:Goldman Sachs Group Inc:The premier Wall Street investment bank will start cutting +thousands of jobs across the firm, two sources familiar with the +move have told Reuters, as it prepares for a tough economic +environment in the year ahead.The job cuts are expected to be just over 3,000, one of the +sources said, in what would be the biggest workforce reduction +for the bank since the 2008 financial crisis.Morgan Stanley:The Wall Street powerhouse is expected to start a fresh +round of layoffs globally in the coming weeks, Reuters reported +on Nov. 3, as dealmaking business takes a hit.Citigroup Inc:The bank eliminated dozens of jobs across its investment +banking division, as a dealmaking slump continues to weigh on +Wall Street's biggest banks, Bloomberg News reported.Genesis:The cryptocurrency firm has cut 30% of its workforce in a +second round of layoffs in less than six months, a person +familiar with the matter told Reuters.Coinbase Global:The cryptocurrency exchange said it would slash nearly 950 +jobs, the third round of workforce reduction in less than a year +after cryptocurrencies, already squeezed by rising interest +rates, came under renewed pressure following the collapse of +major exchange FTX.Stripe Inc:The digital payments firm is cutting its headcount by about +14% and will have about 7,000 employees after the layoffs, +according to an email to employees from the company's founders.Consumer and retail companies:Beyond Meat Inc:The vegan meat maker said it plans to cut 200 jobs this +year, with the layoffs expected to save about $39 million.Blue Apron Holdings Inc:The online meal-kit company said it will cut about 10% of +its corporate workforce, as it looks to reduce costs and +streamline operations. The company had about 1,657 full-time +employees, as of Sept. 30.DoorDash Inc:The food delivery firm, which enjoyed a growth surge during +the pandemic, said it was reducing its corporate headcount by +about 1,250 employees.Energy and resources firms:Phillips 66:The refiner reduced employee headcount by over 1,100 as it +seeks to meet its 2022 cost savings target of $500 million. The +reductions were communicated to employees in late October.Health and pharmaceutical companies:Johnson & Johnson:The pharmaceutical giant has said it might cut some jobs +amid inflationary pressure and a strong dollar, with CFO Joseph +Wolk saying the healthcare conglomerate is looking at "right +sizing" itself. +(Reporting by Deborah Sophia in Bengaluru; Additional reporting +by Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik and +Manya Saini; Editing by Vinay Dwivedi, Shounak Dasgupta and +Shinjini Ganguli) \ No newline at end of file diff --git a/news/AMZN/2023.01.05/The Fed is a real buzzkill.txt b/news/AMZN/2023.01.05/The Fed is a real buzzkill.txt new file mode 100644 index 0000000000000000000000000000000000000000..d255905cb59e45a62bb628a8cd4cbd24d14b1182 --- /dev/null +++ b/news/AMZN/2023.01.05/The Fed is a real buzzkill.txt @@ -0,0 +1,33 @@ + +In addition, the ADP National Employment report, which has just been released, showed that private employment rose more than expected in December, by 235,000 jobs versus 150,000 jobs expected in a Reuters consensus of economists, signaling that the economy is resilient enough to support more rate hikes. U.S. stock index futures fell sharply today after the report. + +Wall Street indices were up quite a bit until the release of the minutes of the last US central bank meeting. The content of the discussions between officials did not reveal any major scoop, but it did have a negative effect on the morale of the troops. The three indices fell sharply afterwards, before rebounding, then falling again, to finally close with moderate gains: +0.75% for the S&P500, +0.4% for the Dow Jones and +0.48% for the Nasdaq. Those who have a good knowledge of the American stock market could be surprised by this gap between the S&P500 and the Nasdaq, since they both include many large technology stocks. There are two reasons for this: first, the fact that the weight of technology in the S&P500 has declined in 2022 with the devaluation of the sector. Secondly, Microsoft has fallen by more than 4% after UBS lowered its recommendation. The Richmond-based group is 12.05% of the index (according to the latest score on the Invesco QQQ ETF). +Now, let's talk about the content of the minutes of the last Fed meeting, which are worth a look. The document mentions that none of the members of the central bank think it would be appropriate to cut rates at any point in this year 2023. But a little further on, we can read that some of the central bankers are afraid that the policy of raising rates will become excessive in relation to the objectives of bringing inflation back to around 2%. The immediate reaction of the equity markets was, as usual, quite bewildered, but the bond market tells a different story as it did not really blink: it does not believe that the Fed will remain hawkish if economic conditions really deteriorate (which some indicators suggest, but still not the labor market). +If I had to summarize all of the above, I would say that the two main engine of the financial world remain U.S. central bank policy and the Chinese recovery (a recovery that includes supportive economic policies and pandemic management). At the same time, there are events that help indexes rise and others that put downward pressure. Falling energy prices in Europe and reduced inflationary pressure are clearly among the events that are welcomed by the market. The stubborn resilience of the job market and hawkish speeches from central bankers, not so much. +  +Economic highlights of the day: +Today, we have the Challenger study on layoffs, the ADP study on employment, weekly unemployment registrations and trade balance, then the PMI services index. In Europe, November producer prices is the main event. All the agenda is here.  +The dollar is up 0.5% to EUR 0.9482 and up 1.2% to GBP 0.8394. The ounce of gold remains fell 1% to USD 1835. Oil rebounds modestly after a big drop, with North Sea Brent at USD 78.14 per barrel and US WTI light crude at USD 73.03. The yield on 10-year US debt rebounds slightly to 3.72%. Bitcoin is trading around 16,800 dollars. +  +Corporate news: +* Amazon will cut more than 18,000 jobs, the company's chief executive Andy Jassy announced Wednesday. The stock is up 2.8% in pre-market trading. +* Tesla delivered 55,796 electric vehicles produced in China in December, down 44% from November, the lowest level in five months, according to data released Thursday by the China Passenger Car Association (CPCA), an industry federation. +* Exxon Mobil, which will formally release its results on Jan. 31, said Wednesday it expects fourth-quarter operating profit of about $15.4 billion, which should give it a record full-year profit of more than $58 billion for 2022. +* Western Digital advanced 6.6 percent in premarket trading after Bloomberg reported that the U.S. memory-chip maker is considering resuming merger talks with Japanese semiconductor group Kioxia. +* Dell Technologies plans to stop sourcing Chinese semiconductors by 2024 and has asked its suppliers to start reducing the use of Chinese-made components in the face of tensions between the U.S. and China, the Nikkei business daily reported Thursday. +* Walgreens Boot Alliance and CVS Health announced on Wednesday their intention to offer drugs for voluntary termination of pregnancy after the U.S. Food and Drug Administration (FDA) decided to allow such products to be sold in U.S. pharmacies for the first time. +Separately, Walgreens Boots Alliance reported a quarterly net loss on Thursday related to a $6.5 billion charge in the opioid case. The stock is giving up 2.7% in pre-market trading. +* Constellations Brands is down 1.8% in premarket trading after it reported quarterly results. +  +Analyst recommendations: + +Air Products: Vertical Research Partners downgrades to hold from buy. PT up 7% to $328. +Albemarle: Vertical Research Partners upgrades to buy from hold. PT up 28% to $275. +Armstrong World: Loop Capital Markets downgrades to hold from buy. PT up  6.5% to $75. +Close Brothers: Investec downgrades to sell from hold. PT down 9.3% to 1,020 pence. +HSBC: Jefferies upgrades from hold to buy targeting GBp 770. +Illumina: Scotiabank initiated coverage with a recommendation of sector perform. PT up 6.6% to $216. +Olin: Barclays upgrades to overweight from equal-weight. PT up 22% to $65. +Wolverine World Wide: Piper Sandler downgrades to neutral from overweight. PT up 12% to $13. +Zimmer Biomet: Raymond James upgrades to outperform from market perform. PT up 12% to $144. + diff --git a/news/AMZN/2023.01.05/Wall St drops as tight labor market, Fed officials' view fan rate fears.txt b/news/AMZN/2023.01.05/Wall St drops as tight labor market, Fed officials' view fan rate fears.txt new file mode 100644 index 0000000000000000000000000000000000000000..b51178f7bacbcd66d9d1b20efc3c4ef81330e9d9 --- /dev/null +++ b/news/AMZN/2023.01.05/Wall St drops as tight labor market, Fed officials' view fan rate fears.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*U.S. private payrolls rise more than expected*Initial weekly jobless claims fall*Tesla drops as sales of China-made vehicles fall*Indexes down: Dow 0.91%, S&P 0.90%, Nasdaq 1.07%Jan 5 (Reuters) - Wall Street's main indexes were in the +red on Thursday as fresh evidence of a tight labor market and +hawkish comments from policymakers deepened fears of elevated +interest rates for longer than expected.Thursday's ADP National Employment report showed a +higher-than-expected rise in private employment in December. +Another report showed weekly jobless claims fell last week.On Wednesday, another data set showed a moderate fall in +U.S. job openings, growing evidence the labor market remains +tight.Among the benchmark S&P 500's 11 major sectors, real estate +, which was the biggest percentage gainer on Wednesday, +was leading percentage losses down 2.6%, with utilities +next, falling 2.1%.While a strong labor market would often be welcomed as a +sign of economic strength investors currently see it as a key +reason for the Federal Reserve to keep interest rates high."It's very clear that good news on the labor market means +bad news for the stock market. Data is showing that the labor +market is very resilient," said Anthony Saglimbene, chief market +strategist at Ameriprise in Tory Michigan."As long as the labor market is resilient, the Federal +Reserve has to continue to tighten financial conditions to bring +inflation down," said that strategist who expects investors to +be keenly focused on wage inflation in Friday's jobs report.By 2:27PM ET, the Dow Jones Industrial Average fell +302.88 points, or 0.91%, to 32,966.89, the S&P 500 lost +34.86 points, or 0.90%, to 3,818.11 and the Nasdaq Composite +dropped 112.01 points, or 1.07%, to 10,346.75.However, the indexes had pared losses a little on Thursday +after St. Louis Federal Reserve leader James Bullard in an +afternoon appearance that 2023 could finally bring some welcome +relief on the inflation front.While Saglimbene noted that Bullard's comments were not +surprising, his suggestion that rate hikes were starting to show +some signs of dampening inflation, provided some reassurance.In the previous session, Wall Street's main indexes erased +some of their gains after minutes from the Fed's December +meeting showed the central bank was laser-focused on fighting +inflation even as officials agreed to slow the pace of rate +hikes to limit risks to economic growth.Earlier in the day both Kansas City Fed leader Esther George +and Atlanta President Raphael Bostic stressed that the central +bank's priority was to curb inflation through policy tightening.Traders see rates peaking at slightly above 5% in June.The more comprehensive non farm payrolls report due on +Friday, will be looked to for further clues on labor demand and +the rate hike trajectory.Among individual stocks, Tesla Inc dropped 2.6% +after December sales of its China-made electric vehicles fell to +a five-month low, while Amazon.com Inc, which announced +increased layoff plans, was down 1.5%.Walgreens Boots Alliance Inc dropped 6.7% after the +drugstore chain posted a quarterly loss on an opioid litigation +charge.Home goods retailer Bed Bath & Beyond Inc was down +24% after saying it was exploring options, including bankruptcy.Declining issues outnumbered advancing ones on the NYSE by a +1.69-to-1 ratio; on Nasdaq, a 1.41-to-1 ratio favored decliners.The S&P 500 posted 7 new 52-week highs and 7 new lows; +the Nasdaq Composite recorded 49 new highs and 61 new lows. +(Reporting by Sinéad Carew in New York, Shubham Batra, Bansari +Mayur Kamdar and Ankika Biswas in Bengaluru; Editing by Arun +Koyyur, Shounak Dasgupta and David Gregorio) \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Wall St drops more than 1% with jobs data feeding fears of more Fed tightening.txt b/news/AMZN/2023.01.05/Wall St drops more than 1% with jobs data feeding fears of more Fed tightening.txt new file mode 100644 index 0000000000000000000000000000000000000000..7e02567c9acf3810ea66f1cd25d5e8ce5a48a66f --- /dev/null +++ b/news/AMZN/2023.01.05/Wall St drops more than 1% with jobs data feeding fears of more Fed tightening.txt @@ -0,0 +1,50 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*U.S. private payrolls rise more than expected*Initial weekly jobless claims fall*Tesla drops as sales of China-made vehicles fall*Indexes down: Dow 1.02%, S&P 1.16%, Nasdaq 1.47%Jan 5 (Reuters) - Wall Street's main indexes lost more +than 1% on Thursday, with Nasdaq leading the declines, as +evidence of a tight labor market eroded hopes that the Federal +Reserve could pause its rating hiking cycle anytime soon as it +keeps focused on inflation.Thursday's ADP National Employment report showed a +higher-than-expected rise in private employment in December. +Another report showed weekly jobless claims fell last week.On Wednesday, another data set showed a moderate fall in +U.S. job openings. While a strong labor market would usually be +welcomed as a sign of economic strength, investors currently see +it as a reason for the Fed to keep interest rates high."It's very clear that good news on the labor market means +bad news for the stock market. Data is showing that the labor +market is very resilient," said Anthony Saglimbene, chief market +strategist at Ameriprise in Tory Michigan."As long as the labor market is resilient, the Federal +Reserve has to continue to tighten financial conditions to bring +inflation down," said that strategist who expects investors to +be keenly focused on wage inflation in Friday's jobs report.The Dow Jones Industrial Average fell 339.69 points, +or 1.02%, to 32,930.08, the S&P 500 lost 44.87 points, or +1.16%, to 3,808.1 and the Nasdaq Composite dropped +153.52 points, or 1.47%, to 10,305.24.The indexes lost steam late in the day, ending close to +their session lows. They had pared losses in the early afternoon +when St. Louis Federal Reserve leader James Bullard said 2023 +could finally bring some welcome relief on the inflation front.While Saglimbene noted that Bullard's comments were not +surprising, his suggestion that rate hikes were starting to show +some signs of dampening inflation, provided some reassurance.Among the S&P's 11 major sectors, real estate - +which was the biggest percentage gainer on Wednesday - lead +Thursday's sector losses with a 2.9% drop, with utilities +came next, falling 2.2%.The sole gainer was energy, which closed up 1.99% +after crude oil futures settled higher.On Wednesday, Wall Street's main indexes had erased some of +their gains after minutes from the Fed's December meeting showed +officials were laser-focused on fighting inflation even as they +agreed to slow the hiking pace to limit economic risks.Earlier Thursday both Kansas City Fed leader Esther George +and Atlanta President Raphael Bostic stressed that the central +bank's priority was to curb inflation through policy tightening.Traders see rates peaking at slightly above 5% in June.The more comprehensive non farm payrolls report due on +Friday, will be looked to for further clues on labor demand and +the rate hike trajectory.Among individual stocks, Tesla Inc ended down 2.9% +after December sales of its China-made electric vehicles fell to +a five-month low, while Amazon.com Inc finished down +2.4% after it announced increased layoff plans.Walgreens Boots Alliance Inc finished down 6% at +$35.19 after the drugstore chain posted a quarterly loss on an +opioid litigation charge.Shares in Bed Bath & Beyond Inc plunged 29.9% to +$1.69 after the home goods retailer said it was exploring +options, including bankruptcy.Declining issues outnumbered advancing ones on the NYSE by a +1.58-to-1 ratio; on Nasdaq, a 1.44-to-1 ratio favored decliners.The S&P 500 posted 8 new 52-week highs and 7 new lows; +the Nasdaq Composite recorded 68 new highs and 66 new lows.On U.S. exchanges was 10.21 billion shares changed hands +compared with the 10.79 billion moving average for the last 20 +trading days. +(Reporting by Sinéad Carew in New York, Shubham Batra, Bansari +Mayur Kamdar and Ankika Biswas in Bengaluru; Editing by Arun +Koyyur, Shounak Dasgupta and David Gregorio) \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Wall St ends down; jobs data feeds fears of more Fed tightening.txt b/news/AMZN/2023.01.05/Wall St ends down; jobs data feeds fears of more Fed tightening.txt new file mode 100644 index 0000000000000000000000000000000000000000..92ed0466f68b3089e6833f4baa00c2ae6f7a76cd --- /dev/null +++ b/news/AMZN/2023.01.05/Wall St ends down; jobs data feeds fears of more Fed tightening.txt @@ -0,0 +1,46 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window) + + + Jan 5 (Reuters) - Wall Street's main indexes closed more +than 1% lower on Thursday as fresh evidence of a tight labor +market ate away at any hopes investors had that the Federal +Reserve could pause its rating hiking cycle anytime soon as it +keeps focused on inflation.Thursday's ADP National Employment report showed a +higher-than-expected rise in private employment in December. +Another report showed weekly jobless claims fell last week.On Wednesday, another data set showed a moderate fall in +U.S. job openings. While a strong labor market would usually be +welcomed as a sign of economic strength investors currently see +it as a reason for the Fed to keep interest rates high."It's very clear that good news on the labor market means +bad news for the stock market. Data is showing that the labor +market is very resilient," said Anthony Saglimbene, chief market +strategist at Ameriprise in Tory Michigan."As long as the labor market is resilient, the Federal +Reserve has to continue to tighten financial conditions to bring +inflation down," said that strategist who expects investors to +be keenly focused on wage inflation in Friday's jobs report.According to preliminary data, the S&P 500 lost 44.74 +points, or 1.16%, to end at 3,808.23 points, while the Nasdaq +Composite lost 153.53 points, or 1.47%, to 10,305.23. +The Dow Jones Industrial Average fell 339.18 points, or +1.02%, to 32,930.59.The indexes had pared losses earlier in the afternoon after +St. Louis Federal Reserve leader James Bullard said 2023 could +finally bring some welcome relief on the inflation front.While Saglimbene noted that Bullard's comments were not +surprising, his suggestion that rate hikes were starting to show +some signs of dampening inflation, provided some reassurance.In the previous session, Wall Street's main indexes erased +some of their gains after minutes from the Fed's December +meeting showed the central bank was laser-focused on fighting +inflation even as officials agreed to slow the pace of rate +hikes to limit risks to economic growth.Earlier Thursday both Kansas City Fed leader Esther George +and Atlanta President Raphael Bostic stressed that the central +bank's priority was to curb inflation through policy tightening.Traders see rates peaking at slightly above 5% in June.The more comprehensive non farm payrolls report due on +Friday, will be looked to for further clues on labor demand and +the rate hike trajectory.Among individual stocks, Tesla Inc sank after +December sales of its China-made electric vehicles fell to a +five-month low, while Amazon.com Inc also lost ground +after it announced increased layoff plans.Walgreens Boots Alliance Inc fell sharply after the +drugstore chain posted a quarterly loss on an opioid litigation +charge.Shares in Bed Bath & Beyond Inc plunged after the +home goods retailer said it was exploring options, including +bankruptcy. +(Reporting by Sinéad Carew in New York, Shubham Batra, Bansari +Mayur Kamdar and Ankika Biswas in Bengaluru; Editing by Arun +Koyyur, Shounak Dasgupta and David Gregorio) \ No newline at end of file diff --git a/news/AMZN/2023.01.05/Wall St eyes lower open as labor data fans rate hike fears.txt b/news/AMZN/2023.01.05/Wall St eyes lower open as labor data fans rate hike fears.txt new file mode 100644 index 0000000000000000000000000000000000000000..f35d59344a7b3a7ca2ce0109f2937093035357fa --- /dev/null +++ b/news/AMZN/2023.01.05/Wall St eyes lower open as labor data fans rate hike fears.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*U.S. private payrolls rise more than expected*Initial weekly jobless claims fall*Amazon rises after CEO flags more job cuts*Futures down: Dow 0.51%, S&P 0.52%, Nasdaq 0.57%Jan 5 (Reuters) - Wall Street's main indexes were set to +open lower on Thursday after further evidence of a strong labor +market spurred worries that the Federal Reserve could keep +raising interest rates for longer than expected.The ADP National Employment report showed private employment +rose by 235,000 jobs in December, after rising by 127,000 jobs +in November. Economists polled by Reuters had forecast an +increase of 150,000 jobs."The ADP report is causing investors to be on the defensive +again regarding the Fed and that it might indeed need to be +raising interest rates longer and higher than the market is +currently anticipating," said Sam Stovall, chief investment +strategist at CFRA Research, New York.Another report showed the number of Americans filing new +claims for unemployment benefits fell last week from the prior +week.Both the reports come a day after data showed a moderate +fall in U.S. job openings, adding to evidence that the labor +market remains tight.The labor market's resilience has been a cause of concern +for markets as it could give the Fed reason to keep raising +rates for longer than expected this year, after the central +bank's aggressive tightening pummeled U.S. equities in 2022.Wall Street's main indexes erased some of their gains on +Wednesday after minutes from the Fed's December meeting showed +the central bank was laser-focused on fighting inflation even as +officials agreed to slow the interest rate hiking pace to limit +risks to economic growth.After Minneapolis Fed President Neel Kashkari on Wednesday +stressed the need for continued tightening, investors will be +watching out for comments from Atlanta Federal Reserve President +Raphael Bostic and St. Louis Fed President James Bullard later +on Thursday.Money market participants now expect a 58.4% chance of a +25-basis point rate hike to 4.50%-4.75% in February, but still +see rates peaking at about 5% by June.The more comprehensive nonfarm payrolls report is due on +Friday, with investors hoping to see signs of cooling in the +labor market that could give the Fed some reason to slow its +monetary tightening.At 8:35 a.m. ET, Dow e-minis were down 170 points, +or 0.51%, S&P 500 e-minis were down 20.25 points, or +0.52%, and Nasdaq 100 e-minis were down 62.25 points, or +0.57%.Shares of Amazon.com Inc rose nearly 1% in +premarket trading after Chief Executive Andy Jassy said layoffs +will now increase to more than 18,000 roles as part of a +workforce reduction it previously disclosed.Walgreens Boots Alliance Inc fell 4.8% after the +drugstore chain posted a quarterly loss on an opioid litigation +charge.Bed Bath & Beyond Inc dropped 18.3% after the +company said it was exploring options including a bankruptcy +filing to address the home goods retailer's plunging sales, +dwindling cash and debt load. +(Reporting by Shubham Batra, Bansari Mayur Kamdar and Ankika +Biswas in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AMZN/2023.01.06/Miller Value Partners' Bill Miller III Says Personally Shorted More Tesla Today, Bought...txt b/news/AMZN/2023.01.06/Miller Value Partners' Bill Miller III Says Personally Shorted More Tesla Today, Bought...txt new file mode 100644 index 0000000000000000000000000000000000000000..2dfab24718431cbb80c66076cbc2e6c0259ccb27 --- /dev/null +++ b/news/AMZN/2023.01.06/Miller Value Partners' Bill Miller III Says Personally Shorted More Tesla Today, Bought...txt @@ -0,0 +1,11 @@ +Jan 6 (Reuters) -* MILLER VALUE PARTNERS PORTFOLIO MANAGER BILL MILLER IV +SAYS +"CHICO'S FAS IS INCREDIBLY A CHEAP STOCK" – CNBC INTERVIEW* MILLER VALUE PARTNERS CHAIRMAN AND CIO BILL MILLER III +SAYS +BOUGHT MORE SHARES OF AMAZON PERSONALLY - CNBC INTERVIEW* MILLER VALUE PARTNERS' BILL MILLER IV SAYS VERY OPTIMISTIC +ABOUT +BITCOIN IN COMING DECADE – CNBC* MILLER VALUE PARTNERS' BILL MILLER III SAYS "WE OWN +COINBASE AND +SILVERGATE" - CNBC* MILLER VALUE PARTNERS' BILL MILLER III SAYS "JUST SHORTED +MORE +TESLA PERSONALLY TODAY" - CNBC \ No newline at end of file diff --git "a/news/AMZN/2023.01.06/New memoir, \"The Transformation of a Wildflower\" by Chrissy Kanne is a released, a coll...txt" "b/news/AMZN/2023.01.06/New memoir, \"The Transformation of a Wildflower\" by Chrissy Kanne is a released, a coll...txt" new file mode 100644 index 0000000000000000000000000000000000000000..f6ac7828a47678c521dcc602fa762eba1cc1d571 --- /dev/null +++ "b/news/AMZN/2023.01.06/New memoir, \"The Transformation of a Wildflower\" by Chrissy Kanne is a released, a coll...txt" @@ -0,0 +1 @@ +"The Transformation of a Wildflower" by Chrissy Kanne has been released worldwide. This 186-page collection of stories, which has achieved bestseller status as #7 in Amazon's "Aging" category, reflects on growing older as a woman, sharing lessons learned from various stages of life, different careers, and personal reflections on maturity.With poignant prose and vulnerable honesty, Kanne presents her own experiences with aging, menopause, changing ideas about body image, and the ways she learned to accept - even celebrate - life's transformations. She shares stories of important moments throughout her life, weaving them into valuable messages through the persistent metaphor of blossoming flowers.Both practical and spiritual, this inspiring work reframes common notions of beauty and aging, showing the power of a connection to nature, the strength of self-acceptance, and that the growing pains of inevitable change can be seen as part of a joyous journey.Kanne's humor, patience, and zest for life are palpable throughout each story, and in the process of learning about her experiences, readers will learn something about themselves as well!The Transformation of a Wildflower (ISBN: 9781958729656 / 9781958729663) can be purchased through retailers worldwide, including Barnes and Noble and Amazon. The paperback retails for $14.95, and the hardcover retails for $22.95. Wholesale orders are available through Ingram. Review copies and interviews are available upon request.From the back cover:An anthology of reflections on life prompted by one woman's unrelenting search for fulfilling happiness as she enters menopause with brooding questions hanging over her head. Is there beauty in aging? Is there life after menopause?About the author:Chrissy Kanne, author of Nashville Skyline, under the name Chrissy Coleman, was published in 2006. She currently resides in a rural town in Missouri with her husband and their dogs and cat where she continues to write and tend to her gardens.About MindStir Media:MindStir Media LLC is an award-winning book publisher. To learn more about publishing a book with MindStir Media, visit http://mindstirmedia.com or call 800-767-0531.Media ContactCompany Name: MindStir Media LLCContact Person: Jen McNabneyEmail: press@mindstirmedia.comPhone: 800-767-0531Address:1 New Hampshire Ave Suite 125City: PortsmouthState: NHCountry: United StatesWebsite: https://mindstirmedia.com/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AMZN/2023.01.06/Strong U.S. jobs, wages growth expected in December.txt b/news/AMZN/2023.01.06/Strong U.S. jobs, wages growth expected in December.txt new file mode 100644 index 0000000000000000000000000000000000000000..e10d3d03d3b2abe2e2ccb049050aa34ad6e4526b --- /dev/null +++ b/news/AMZN/2023.01.06/Strong U.S. jobs, wages growth expected in December.txt @@ -0,0 +1 @@ +The Labor Department's closely watched employment report on Friday is also expected to show the unemployment rate unchanged at 3.7% last month. The labor market has remained strong since the Fed embarked last March on its fastest interest rate-hiking since the 1980s. Rate-sensitive industries like housing and finance, as well as technology companies, including Twitter, Amazon and Facebook parent Meta have slashed jobs, yet airlines, hotels, restaurants and bars are desperate for workers as the leisure and hospitality industries continue to recover from the pandemic. Labor market resilience has underpinned the economy by sustaining consumer spending, but could prompt the Fed to lift its target interest rate above the 5.1% peak the U.S. central bank projected last month and keep it there for a while."All indications are that the labor market remains strong," said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in Los Angeles. "Leisure and hospitality employers are not able to get anybody even after wages have been going up. That pattern has and will continue for a while, so that's where the rubber hits the road."The survey of business establishments is likely to show that nonfarm payrolls increased by 200,000 jobs last month after rising 263,000 in November, according to a Reuters poll of economists. That would be the smallest gain in two years.However, job growth would far exceed the pace needed to keep up with growth in the working-age population, comfortably in the 150,000-300,000 range that economists associate with tight labor markets. Estimates ranged from as low as 130,000 to as high as the 350,000 predicted by TD Securities.Data from payroll scheduling and tracking company Homebase showed employers held on to workers in December, which suggested a smaller-than-normal drop in not seasonally adjusted (NSA) terms.SEASONAL BOOST"This means that the seasonal factor, which should be adjusting over a plus 200,000 NSA decline, would be adding over a stronger than expected figure," said TD Securities macro strategist Oscar Munoz. "The seasonal adjustment has added around 430,000 jobs, on average, over the last five Decembers."An ongoing strike by 36,000 teachers in California is seen depressing government payrolls. The government will revise the seasonally adjusted data for the household survey, from which the unemployment rate is derived, for the last five years.Household employment decreased in October and November, leading some economists to speculate that overall job growth was overstated. Some Fed officials have also latched on to the divergence between the two measures. Yet the household survey tends to be volatile and most economists expect household employment would be revised toward nonfarm payrolls."Whenever trends in household employment have diverged from payroll employment, corrections have tended to come through household employment correcting towards now-stronger payrolls," said Veronica Clark, an economist at Citigroup in New York. "We would not be surprised to see an even larger rebound in household employment in December or over the coming months."Little impact is seen on the unemployment rate from the revision to the household data. Average hourly earnings are expected to have risen by 0.4% after surging 0.6% in November. That would lower the year-on-year increase in wages to 5.0% from 5.1% in November.Strong wage growth is likely to persist in January as several states raise their minimum wage and most workers across the country get cost of living adjustments. There were 10.458 million job openings at the end of November, which translated to 1.74 jobs for every unemployed person.But the trend in employment growth could slow significantly by mid-year. The Fed last year raised its policy rate by 425 basis points from near zero to a 4.25%-4.50% range, the highest since late 2007. Last month, it projected at least an additional 75 basis points of hikes in borrowing costs by the end of 2023.Confidence among chief executive officers is at its lowest level since the Great Recession, according to a recent survey from the Conference Board."If they think demand is weakening and revenues are going to slow, they're probably going to feel pressure to cut costs to maintain profitability," said James Knightley, chief international economist at ING in New York. "That does suggest that the pace of employment growth is likely to slow quite quickly through this year, and we could in fact, start to see some job losses in the middle of the year." (Reporting by Lucia Mutikani; Editing by David Gregorio)By Lucia Mutikani \ No newline at end of file diff --git a/news/AMZN/2023.01.09/AMAZON COM INC : Jefferies remains its Buy rating.txt b/news/AMZN/2023.01.09/AMAZON COM INC : Jefferies remains its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..9098ffb7c8783bd99ff03e43c0be582ebc635eee --- /dev/null +++ b/news/AMZN/2023.01.09/AMAZON COM INC : Jefferies remains its Buy rating.txt @@ -0,0 +1 @@ +In a research note published by Brent Thill, Jefferies advises its customers to buy the stock. The target price is revised downwards from USD 135 to USD 125. \ No newline at end of file diff --git a/news/AMZN/2023.01.09/Analysis-Some ocean shipping rates collapsing, but real price relief is months away.txt b/news/AMZN/2023.01.09/Analysis-Some ocean shipping rates collapsing, but real price relief is months away.txt new file mode 100644 index 0000000000000000000000000000000000000000..8922299d6bcd6aed49518f42d3ddaa5c8af8c15e --- /dev/null +++ b/news/AMZN/2023.01.09/Analysis-Some ocean shipping rates collapsing, but real price relief is months away.txt @@ -0,0 +1 @@ +Spot rates, which cover anywhere from 10% to 40% of ocean container shipments and are considered a key indicator of the industry's health, are in free fall as recession looms and the pandemic-fueled U.S. import bubble deflates.The cost to send a container from Asia to the United States on the demand-sensitive spot market has tumbled more than 80% from its September peak above $20,000 for a 40-foot container, according to freight booking platform Freightos. GRAPHIC-Ocean shipping rates in retreat https://www.reuters.com/graphics/USA-SUPPLYCHAIN/SHIPPING/xmvjklgbgpr/chart.pngMajor carriers like Mediterranean Shipping Co (MSC) and A.P. Moller-Maersk also are expecting delivery of hundreds of new container ships, which amplifies risk as carriers already have more ships than they need to handle shrinking demand."There is sense of payback-time in the market after the COVID years, where carriers have been in absolute control," said Peter Sand, chief analyst at air and ocean freight rate benchmarking platform Xeneta.Nonetheless, top customers like Walmart, Home Depot and Amazon.com will not necessarily dictate terms during contract talks that typically happen around May, experts said.This is partly because shippers that move thousands of containers every year want predictable pricing.Big shippers "go into their buying season ... wanting to know what their freight is going to cost. They're not interested in playing the (spot) market" by shopping for lower rates, shipping expert John McCown said.At the same time, Maersk and other carriers told investors they would continue to prop up rates by cancelling voyages to match shrinking demand. They are also scrapping small, old "rust buckets" to cut capacity. That means shoppers will suffer from higher prices a bit longer, experts said."The American consumer should not be expecting that this is going to lead to massive price relief. That's just not going to happen," said Jason Miller, associate professor of supply chain management at Michigan State University. 'BOTTOMING OUT' Carriers raised rates and reaped record profits during the pandemic shipping surge due to a spike in demand for shipping services. Many carriers prioritized loads with higher spot rates and bumped containers from overbooked ships, leading to an increase in the use of the spot market. However, this trend began to shift toward the end of last year due to a drop in the import of retail goods such as furniture, appliances, and apparel. The chief executive of container shipping company Ocean Network Express, Jeremy Nixon, said in December that short-term spot rates were "bottoming out." Meanwhile, long-term contract rates finished 2022 about 20% lower than the pandemic peak of more than $8,000 per container, according to maritime consultancy Drewry, which expects contract rates to halve in 2023. That forecast would put rates at about $3,200, versus the pre-pandemic rate of around $1,500. Several factors could support longer-term contract rates, including upheaval from China's COVID outbreak, war in Ukraine, and high labor costs. Steve Schult, vice president for almond farming cooperative Blue Diamond Growers, bets contract rates will not revisit pre-COVID levels. "It's kind of like inflation," he said. "It never really goes all the way back down." (Reporting by Lisa Baertlein in Los Angeles; Editing by Ben Klayman and Lisa Shumaker)By Lisa Baertlein \ No newline at end of file diff --git a/news/AMZN/2023.01.09/Factbox-Tech firms leading job cuts in Corporate America.txt b/news/AMZN/2023.01.09/Factbox-Tech firms leading job cuts in Corporate America.txt new file mode 100644 index 0000000000000000000000000000000000000000..c0c5d2f84c02eb48869184d35e8605844500afd9 --- /dev/null +++ b/news/AMZN/2023.01.09/Factbox-Tech firms leading job cuts in Corporate America.txt @@ -0,0 +1 @@ +Rapid interest rate hikes, weak consumer demand and an economic slowdown in China have forced firms such as Amazon, Walt Disney, Facebook-owner Meta and American banks to trim their workforce.As a pandemic-led demand boom rapidly wanes, tech companies shed more than 150,000 workers in 2022, according to tracking site Layoffs.fyi, and more layoffs are expected as growth in the world's biggest economies start to slow.Here are some of the major job cuts by American companies announced in recent weeks:Technology, media and telecom companies: Amazon.com Inc:The e-commerce giant said company-wide layoffs would impact over 18,000 employees, raising the figure from 10,000 layoffs it announced months ago.Meta Platforms Inc:The Facebook-parent said it would cut 13% of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs this year as it grapples with a weak advertising market and mounting costs.AMC Networks Inc:The cable TV network said it would cut about 20% of its U.S. workforce, as it announced Chief Executive Officer Christina Spade had stepped down, less than three months into the role.Intel Corp:CEO Pat Gelsinger told Reuters "people actions" would be part of a cost-reduction plan. The chipmaker said it would reduce costs by $3 billion in 2023.The adjustments would start in the fourth quarter, Gelsinger said, but did not specify how many employees would be affected.Microsoft Corp: The software giant laid off under 1,000 employees across several divisions in October, Axios reported, citing a source.Twitter Inc:The social media company laid off half its workforce across teams ranging from communications and content curation to product and engineering following Elon Musk's $44 billion takeover. However, Bloomberg later reported Twitter was reaching out to dozens of employees who lost their jobs, asking them to return.Twitter has since made further staff cuts in the trust and safety team handling global content moderation and in the unit related to hate speech and harassment, Bloomberg news reported.Seagate Technology Holdings Plc:The memory chip firm announced a restructuring plan including reducing worldwide headcount by about 8%, or 3,000 employees. Lyft Inc:The ride-hailing firm said it would lay off 13% of its workforce, or about 683 employees, after it already cut 60 jobs earlier this year and froze hiring in September.Warner Bros Discovery:Film subsidiary Warner Bros. Pictures is planning to cut a number of jobs in distribution and marketing that will reduce headcount by 5% to 10%, Bloomberg News reported.Roku Inc:The video-streaming device maker said it would reduce its headcount by 5%, or about 200 employees, due to "current economic conditions".TuSimple Holdings IncThe autonomous driving technology company will lay off 25% of its workforce, or nearly 350 employees, as part of a restructuring plan to rein in costs.Micron Technology IncThe memory chipmaker will cut 10% of its workforce in 2023 and would reduce its capex plans for fiscal 2024, citing a nagging glut in the semiconductor market.Salesforce IncThe software company said it would lay off about 10% of its employees and close some offices as a part of its restructuring plan, citing a challenging economy.Arrival SA: The EV startup said it plans to further "right-size" the organization, which could have a "sizable impact" on its global workforce, mostly in the UK. The company in July said it may cut up to 30% of workforce in restructuring. Opendoor Technologies Inc:The property-selling platform is laying off about 550 employees, Chief Executive Officer Eric Wu said, adding that the company had already reduced its workforce by more than 830 positions.Cisco Systems Inc:The networking and collaboration solutions company said it will undertake restructuring which could impact roughly 5% of its workforce. The effort will begin in the second quarter of the fiscal year 2023 and cost the company $600 million.HP Inc:The computing devices maker said it expected to cut up to 6,000 jobs by the end of fiscal 2025. CNN:Warner Bros Discovery-owned CNN's top boss Chris Licht informed employees in an all-staff memo that job cuts were underway.Buzzfeed Inc:The online media company said it will cut about 12% of its workforce. As of Dec. 31 last year, the company had 1,522 employees in six countries.Financial firms: Goldman Sachs Group Inc:The premier Wall Street investment bank will start cutting thousands of jobs across the firm, two sources familiar with the move told Reuters, as it prepares for a tough economic environment in the year ahead. The job cuts are expected to be just over 3,000, one of the sources said, but the final number is yet to be determined. Morgan Stanley:The Wall Street powerhouse is expected to start a fresh round of layoffs globally in the coming weeks, Reuters reported on Nov. 3, as dealmaking business takes a hit.Citigroup Inc:The bank eliminated dozens of jobs across its investment banking division, as a dealmaking slump continues to weigh on Wall Street's biggest banks, Bloomberg News reported.Kraken:The cryptocurrency exchange said it would cut its global workforce by 30%, or about 1,100 employees, citing tough market conditions that have crippled demand for digital assets this year.Genesis:The cryptocurrency firm has cut 30% of its workforce in a second round of layoffs in less than six months, a person familiar with the matter told Reuters. Coinbase Global: The cryptocurrency exchange said it planned to cut over 60 jobs, in its recruiting and institutional onboarding teams.The move marks a second round of jobs cuts at the company this year, and comes at a time when cryptocurrencies have been roiled by extreme volatility as investors dump risky assets. Chime Financial Inc:The online banking firm has laid off 12% of its employees, or about 160 jobs, a spokesperson said.Stripe Inc:The digital payments firm is cutting its headcount by about 14% and will have about 7,000 employees after the layoffs, according to an email to employees from the company's founders.Consumer and retail companies: Beyond Meat Inc: The vegan meat maker said it plans to cut 200 jobs this year, with the layoffs expected to save about $39 million.Blue Apron Holdings Inc:The online meal-kit company said it will cut about 10% of its corporate workforce, as it looks to reduce costs and streamline operations. The company had about 1,657 full-time employees, as of Sept. 30.Stitch Fix Inc:The online personalized styling service firm said it will cut about 20% of its salaried positions. The company had about 7,920 full- and part-time employees as of July 30.Wolverine World Wide Inc:The casual footwear and apparel retailer said it had initiated a workforce reduction earlier this week and expects this initiative to result in about $30 million in savings in 2023.DoorDash Inc:The food delivery firm, which enjoyed a growth surge during the pandemic, said it was reducing its corporate headcount by about 1,250 employees.Energy and resources firms: Chesapeake Energy Corp:The U.S. shale gas producer cut about 3% of its workforce, sources told Reuters, as the company readies a sale of South Texas oil properties.Phillips 66:The refiner reduced employee headcount by over 1,100 as it seeks to meet its 2022 cost savings target of $500 million. The reductions were communicated to employees in late October.Health and pharmaceutical companies:Johnson & Johnson:The pharmaceutical giant has said it might cut some jobs amid inflationary pressure and a strong dollar, with CFO Joseph Wolk saying the healthcare conglomerate is looking at "right sizing" itself. (Reporting by Deborah Sophia in Bengaluru; Additional reporting by Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik and Manya Saini; Editing by Vinay Dwivedi, Shounak Dasgupta and Shinjini Ganguli) \ No newline at end of file diff --git a/news/AMZN/2023.01.09/MarketScreener's World Press Review: January 9 .txt b/news/AMZN/2023.01.09/MarketScreener's World Press Review: January 9 .txt new file mode 100644 index 0000000000000000000000000000000000000000..a18daa60dbe71ccbe5d0e47a40fb24915a0465db --- /dev/null +++ b/news/AMZN/2023.01.09/MarketScreener's World Press Review: January 9 .txt @@ -0,0 +1,12 @@ + +Softbank, Hargreaves Lansdown, Walt Disney, Goldman Sachs, Deere & Co, Eisai & Biogen, Tesla, Amazon, Apple, Alphabet and Meta, General Electric & GE healthcare, Johnson & Johnson, Baxter, Novartis, Carnival, Royal Caribbean, Norwegian Cruise, Comcast, Adobe, Rakuten and SK Bioscience feature in this press review! + + + + +  +  + +  +  +  diff --git a/news/AMZN/2023.01.09/Mattel reannounces recall of Rock 'n Play sleepers after more infant deaths.txt b/news/AMZN/2023.01.09/Mattel reannounces recall of Rock 'n Play sleepers after more infant deaths.txt new file mode 100644 index 0000000000000000000000000000000000000000..b565dd5625eade52b80c9424e59ea59068d36590 --- /dev/null +++ b/news/AMZN/2023.01.09/Mattel reannounces recall of Rock 'n Play sleepers after more infant deaths.txt @@ -0,0 +1 @@ +The product was launched in 2009 and first recalled a decade later after more than 30 infant fatalities were reported. A total of about 100 deaths have reportedly occurred while infants were in the sleepers, the U.S. Consumer Product Safety Commission (CPSC) said on Monday. Fisher-Price has been unable to confirm the circumstances of the deaths or whether the product was a "Rock 'n Play" sleeper in some of the reports, the CPSC said. It was sold in major stores across the United States, including Walmart, Target, and online at Amazon.com, from September 2009 through April 2019. (Reporting by Deborah Sophia in Bengaluru; Editing by Devika Syamnath) \ No newline at end of file diff --git a/news/AMZN/2023.01.09/Nasdaq leads Wall St higher as interest rate worries ease.txt b/news/AMZN/2023.01.09/Nasdaq leads Wall St higher as interest rate worries ease.txt new file mode 100644 index 0000000000000000000000000000000000000000..225779d0e7722a0258afe0c68e0d52ffae81b6d3 --- /dev/null +++ b/news/AMZN/2023.01.09/Nasdaq leads Wall St higher as interest rate worries ease.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window)*Amazon up as Jefferies sees easing costs*Alibaba climbs as Ant Group's Jack Ma to cede control*Macy's, Lululemon drop on holiday-quarter warnings*Indexes up: Dow 0.39%, S&P 0.85%, Nasdaq 1.52%Jan 9 (Reuters) - The tech-heavy Nasdaq led gains among +the main Wall Street indexes on Monday, boosted by shares of +Amazon and Tesla, while signs of a cooling labor market +supported bets of a slower pace of interest rate hikes by the +Federal Reserve.Amazon.com Inc rose 3.4% after Jefferies said it +saw cost pressures easing for the e-commerce giant in the second +half of the year.Tesla Inc climbed 7.5% after the electric-vehicle +maker indicated longer waiting times for some versions of the +Model Y in China, signaling the recent price cuts could be +stoking demand.Other rate-sensitive growth stocks like Apple Inc +and Alphabet Inc gained about 1% each as U.S. Treasury +yields declined.The gains pushed technology to the top of the +major S&P 500 sector indexes list. The S&P 500 growth index +was up 3.6%, outperforming a 0.7% rise in its value peers +.The benchmark S&P 500 and the Nasdaq closed +the week higher on Friday after a moderation in wage increases +and a decline in U.S. services activity in December buoyed hopes +of a less hawkish stance from the Fed as well as a soft landing +for the U.S. economy."The number of jobs created is working its way down slowly +and wages are starting to calm down. Both of those are important +for inflation coming under control, without necessarily +careening the U.S economy to a recession," said Art Hogan, chief +market strategist at B. Riley Financial.The highly awaited U.S. Labor Department's inflation report +on Thursday is expected to show some moderation in year-on-year +consumer prices in December.Money market bets show 75% odds of a 25-basis point hike in +the Fed's February policy meeting, with the terminal rate +expected just below 5% by June.Other economic data such as weekly jobless claims and the +University of Michigan's consumer sentiment report will also be +in focus this week, as big U.S. banks kick off the quarterly +earnings season on Friday.A slew of Fed officials including Chair Jerome Powell are +due to speak this week, with investors parsing their commentary +for more clues on the rate-hike trajectory.U.S.-listed shares of Alibaba Group Holding Ltd +rose 2.7% on news that Ant Group's founder Jack Ma will give up +control of the Chinese fintech giant in an overhaul.At 9:58 a.m. ET, the Dow Jones Industrial Average was +up 132.40 points, or 0.39%, at 33,763.01, the S&P 500 was +up 33.17 points, or 0.85%, at 3,928.25, and the Nasdaq Composite +was up 160.39 points, or 1.52%, at 10,729.69.Macy's Inc and Lululemon Athletica Inc +dropped 8.7% and 10.3%, respectively, following dour +holiday-quarter forecasts from both the retailers.Other retailers such as Kohl's Corp and Nordstrom +Inc also took a hit, down 4.3% and 2.9%, respectively.Advancing issues outnumbered decliners for a 3.68-to-1 ratio +on the NYSE and a 2.15-to-1 ratio on the Nasdaq.The S&P index recorded 10 new 52-week highs and two new +lows, while the Nasdaq recorded 95 new highs and 14 new lows. +(Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas +in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AMZN/2023.01.09/Nasdaq leads gains on Wall Street as interest rate worries ease.txt b/news/AMZN/2023.01.09/Nasdaq leads gains on Wall Street as interest rate worries ease.txt new file mode 100644 index 0000000000000000000000000000000000000000..cde02fb37a92360a3101361136d34bc1be12f0af --- /dev/null +++ b/news/AMZN/2023.01.09/Nasdaq leads gains on Wall Street as interest rate worries ease.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Amazon up as Jefferies sees easing costs*Alibaba climbs as Ant Group's Jack Ma to give up control*Macy's, Lululemon drop on holiday-quarter warnings*Indexes up: Dow 0.68%, S&P 1.24%, Nasdaq 2.03%Jan 9 (Reuters) - The Nasdaq rose more than 2% on Monday +with Big Tech and growth stocks spearheading gains as recent +signs of a cooling labor market supported bets of a slower pace +of interest rate hikes by the Federal Reserve.Megacap growth stocks Apple Inc, Alphabet Inc +and Microsoft Corp gained over 2% each as +U.S. Treasury yields declined.Amazon.com Inc rose 3.4% after Jefferies said it +saw cost pressures easing for the e-commerce giant in the second +half of the year.Tesla Inc climbed 7% after the electric-vehicle +maker indicated longer waiting times for some versions of the +Model Y in China, signaling the recent price cuts could be +stoking demand.The gains pushed technology to the top of the +major S&P 500 sector indexes list, while consumer discretionary +stocks also rose with a near 2% gain.The benchmark S&P 500 and the Nasdaq closed +the week higher on Friday after a moderation in wage increases +and a decline in U.S. services activity in December buoyed hopes +of a less hawkish stance from the Fed as well as a soft landing +for the U.S. economy."The number of jobs created is working its way down slowly +and wages are starting to calm down. Both of those are important +for inflation coming under control, without necessarily +careening the U.S economy to a recession," said Art Hogan, chief +market strategist at B. Riley Financial.The highly awaited U.S. Labor Department's inflation report +on Thursday is expected to show some moderation in year-on-year +consumer prices in December.Money market bets show 79% odds of a 25-basis point hike in +the Fed's February policy meeting, with the terminal rate +expected at 4.92% by June.The CPI report would be crucial in shaping expectations for +when the Fed is close to the end of its tightening cycle and is +likely to show inflation is starting to move down, Jon Maier, +chief investment officer at Global X ETFs, said.Other economic data such as weekly jobless claims and the +University of Michigan's consumer sentiment report will also be +in focus this week, as big U.S. banks kick off the quarterly +earnings season on Friday.A slew of Fed officials including Chair Jerome Powell are +due to speak this week, with investors ready to parse their +commentary for more clues on the rate-hike trajectory.U.S.-listed shares of Alibaba Group Holding Ltd +rose 3.7% on news that Ant Group's founder Jack Ma will give up +control of the Chinese fintech giant in an overhaul.At 11:41 a.m. ET, the Dow Jones Industrial Average +was up 229.32 points, or 0.68%, at 33,859.93, the S&P 500 +was up 48.49 points, or 1.24%, at 3,943.57, and the Nasdaq +Composite was up 214.41 points, or 2.03%, at 10,783.70.Macy's Inc and Lululemon Athletica Inc fell +7.7% and 7.9%, respectively, following dour holiday-quarter +forecasts from both the retailers.Advancing issues outnumbered decliners for a 4.45-to-1 ratio +on the NYSE and a 2.54-to-1 ratio on the Nasdaq.The S&P index recorded 12 new 52-week highs and two new +lows, while the Nasdaq recorded 107 new highs and 18 new lows. +(Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas +in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AMZN/2023.01.09/Petroecuador flying in oil block supplies after protests hit logistics.txt b/news/AMZN/2023.01.09/Petroecuador flying in oil block supplies after protests hit logistics.txt new file mode 100644 index 0000000000000000000000000000000000000000..5eff77d2b47ba76b0b26b7e1d7f46c55d4fc0fdd --- /dev/null +++ b/news/AMZN/2023.01.09/Petroecuador flying in oil block supplies after protests hit logistics.txt @@ -0,0 +1,26 @@ +QUITO, Jan 9 (Reuters) - Ecuador's state-run oil company +Petroecuador is supplying a key Amazon oil block with planes, +the firm said on Monday, as it seeks to overcome road blockades +erected by a local indigenous community.The block is one of two that Petroecuador took control of +in the country's Amazonian Orellana province from a subsidiary +of Canada's New Status Energy on Jan. 1.The pair of blocks, numbered 16 and 67, pump more than +14,000 barrels of oil per day (bpd).Ecuador is one of South America's smaller oil and gas +producers, behind Brazil, Colombia and Argentina.Amid the handover process, the Waorani community of Dikaro +in Orellana began closing access roads to block 16, demanding a +free and informed consultation process for the new operator of +the oil blocks.Petroecuador said in its statement that it had been flying +in "chemicals, oils and food to maintain the operation of block +16 and to supply personnel."Petroecuador did not specify whether the protest will impact +production in the areas, adding that road closures are due to +"demands that were not met by the private operator."The company said it had staff and contracting required to +continue operations, and would do so in compliance with labor +laws.CONFENIAE, the main organization of indigenous groups in +Ecuador's Amazon, wrote on Twitter that the Waorani community +has been in a "peaceful resistance" since Dec. 25 to defend its +territory and had asked the government to consult the community +concerning Petroecuador's operations, among other requests.The government has said that Petroecuador will temporarily +operate both blocks until an international tender is called to +designate a private operator.Petroecuador's production stood at about 396,000 bpd on +Sunday, according to official data. +(Reporting by Alexandra Valencia; Editing by David Alire Garcia +and Sandra Maler) \ No newline at end of file diff --git a/news/AMZN/2023.01.09/S&P 500 near flat as investors weigh chances of less aggressive rate hikes.txt b/news/AMZN/2023.01.09/S&P 500 near flat as investors weigh chances of less aggressive rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..47ceaf1dfa5ec2a736ac5a057d2c3c79c94325db --- /dev/null +++ b/news/AMZN/2023.01.09/S&P 500 near flat as investors weigh chances of less aggressive rate hikes.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tech shares gain*Macy's, Lululemon drop on holiday-quarter warnings*Indexes: Dow down 0.3%, S&P 500 down 0.1%, Nasdaq up 0.6%NEW YORK, Jan 9 (Reuters) - The S&P 500 index +erased early gains to close nearly flat on Monday as +expectations that the Federal Reserve will become less +aggressive with its interest rate hikes were offset by lingering +worries about inflation.The Dow ended lower, and the Nasdaq Composite ended +well off the day's highs.Investors are awaiting comments Tuesday from Fed Chair +Jerome Powell, who some strategists expect could say more time +is needed to show inflation is under control.Money market bets were showing 77% odds of a 25-basis point +hike in the Fed's February policy meeting.A consumer prices report due Thursday could be key for rate +expectations, said Quincy Krosby, chief global strategist, LPL +Financial in Charlotte, North Carolina. "The CPI report this +week is going to be essential for fine-tuning the Fed funds +futures market."Investors also may have sold some shares after recent +strong market gains, said Paul Nolte, portfolio manager at +Kingsview Investment Management in Chicago. "You're seeing a +little bit of profit-taking ahead of the CPI number due out this +week."The technology sector gained as Treasury yields +fell. Consumer discretionary stocks also rose, with +Amazon.com Inc up 1.5% after Jefferies said it saw cost +pressures easing for the e-commerce giant in the second half of +the year.Also, S&P 500 companies are about to kick off the +fourth-quarter earnings period, with results from top U.S. banks +expected later this week.The Dow Jones Industrial Average fell 112.96 points, +or 0.34%, to 33,517.65, the S&P 500 lost 2.99 points, or +0.08%, to 3,892.09 and the Nasdaq Composite added 66.36 +points, or 0.63%, to 10,635.65.Shares of Broadcom Inc fell in late trading to end +down 2% after Bloomberg, citing people familiar with the matter, +reported that Apple Inc plans to drop a Broadcom chip +in 2025 and use an in-house design instead.Friday's jobs report, which showed a moderation in wage +increases, lifted hopes that the Fed might become less +aggressive in its rate-hike push to reduce inflation.Tesla Inc shares rose 5.9% after the +electric-vehicle maker indicated longer waiting times for some +versions of the Model Y in China, signaling the recent price +cuts could be stoking demand.Macy's Inc fell 7.7% and Lululemon Athletica Inc +dropped 9.3% after both retailers issued disappointing +holiday-quarter forecasts.Volume on U.S. exchanges was 11.35 billion shares, compared +with the 10.90 billion average for the full session over the +last 20 trading days.Advancing issues outnumbered decliners on the NYSE by a +1.85-to-1 ratio; on Nasdaq, a 1.48-to-1 ratio favored advancers.The S&P 500 posted 13 new 52-week highs and two new +lows; the Nasdaq Composite recorded 129 new highs and 32 new +lows. +(Additional reporting by Shubham Batra, Amruta Khandekar and +Ankika Biswas in Bengaluru; Editing by Shounak Dasgupta and +Richard Chang) \ No newline at end of file diff --git a/news/AMZN/2023.01.09/S&P 500 near flat as investors weigh likelihood of less aggressive rate hikes.txt b/news/AMZN/2023.01.09/S&P 500 near flat as investors weigh likelihood of less aggressive rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..6a626e9a08bcc134334a52dc46543d04ea67cdab --- /dev/null +++ b/news/AMZN/2023.01.09/S&P 500 near flat as investors weigh likelihood of less aggressive rate hikes.txt @@ -0,0 +1,36 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tech shares gain*Macy's, Lululemon drop on holiday-quarter warningsNEW YORK, Jan 9 (Reuters) - The S&P 500 index +closed barely changed on Monday as expectations that the Federal +Reserve will become less aggressive with its interest rate hikes +were offset by lingering worries about inflation.The Dow edged lower, and the Nasdaq Composite ended +off the day's highs.Investors are awaiting comments Tuesday from Fed Chair +Jerome Powell, who some strategists expect could say that more +time is needed to show inflation is under control.Money market bets were showing 77% odds of a 25-basis point +hike in the Fed's February policy meeting.A consumer prices report due Thursday could be key for rate +expectations, said Quincy Krosby, chief global strategist, LPL +Financial in Charlotte, North Carolina. "The CPI report this +week is going to be essential for fine-tuning the Fed funds +futures market."After recent strong market gains, "you're seeing a little +bit of profit-taking ahead of the CPI number due out this week," +said Paul Nolte, portfolio manager at Kingsview Investment +Management in Chicago.The technology sector gained as Treasury yields +fell. Consumer discretionary stocks also rose, with +Amazon.com Inc up after Jefferies said it saw cost +pressures easing for the e-commerce giant in the second half of +the year.Also, S&P 500 companies are about to kick off the +fourth-quarter earnings period, with results from top U.S. banks +expected later this week.According to preliminary data, the S&P 500 lost 2.74 +points, or 0.07%, to end at 3,892.34 points, while the Nasdaq +Composite gained 66.13 points, or 0.63%, to 10,635.96. +The Dow Jones Industrial Average fell 111.48 points, or +0.33%, to 33,519.13.Friday's jobs report, which showed a moderation in wage +increases, also lifted hopes that the Fed might become less +aggressive in its rate-hike push to reduce inflation.Tesla Inc rose after the electric-vehicle maker +indicated longer waiting times for some versions of the Model Y +in China, signaling the recent price cuts could be stoking +demand.Macy's Inc and Lululemon Athletica Inc fell +after both retailers issued disappointing holiday-quarter +forecasts. +(Additional reporting by Shubham Batra, Amruta Khandekar and +Ankika Biswas in Bengaluru; Editing by Shounak Dasgupta and +Richard Chang) \ No newline at end of file diff --git a/news/AMZN/2023.01.09/S&P 500, Nasdaq rise as investors bet on less aggressive rate hikes.txt b/news/AMZN/2023.01.09/S&P 500, Nasdaq rise as investors bet on less aggressive rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..056414b3cf63a50c386ddcf12350efa798215730 --- /dev/null +++ b/news/AMZN/2023.01.09/S&P 500, Nasdaq rise as investors bet on less aggressive rate hikes.txt @@ -0,0 +1,35 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tech shares lead S&P 500 sector gains*Alibaba climbs as Ant Group's Jack Ma to give up control*Macy's, Lululemon drop on holiday-quarter warnings*Indexes: Dow down 0.03%, S&P 500 up 0.5%, Nasdaq up 1.3%NEW YORK, Jan 9 (Reuters) - The Nasdaq Composite +and S&P 500 indexes rose Monday afternoon, led by +technology shares, on growing expectations that the Federal +Reserve will become less aggressive with its interest rate +hikes.Technology led the gains among S&P 500 sectors as +U.S. Treasury yields declined, while the Nasdaq led the rise +among the major indexes.The Dow edged lower.Consumer discretionary stocks also rose sharply, +with Amazon.com Inc up after Jefferies said it saw cost +pressures easing for the e-commerce giant in the second half of +the year.Investors are geared up for comments Tuesday from Fed Chair +Jerome Powell, who analysts expect could say that more time is +needed to show inflation is under control.Money market bets were showing 79% odds of a 25-basis point +hike in the Fed's February policy meeting.A consumer prices report due Thursday could be key for rate +expectations, said Quincy Krosby, chief global strategist, LPL +Financial in Charlotte, North Carolina. "The CPI report this +week is going to be essential for fine-tuning the Fed funds +futures market."Also, S&P 500 companies are about to kick off the +fourth-quarter earnings period, with results from top U.S. banks +expected later this week.The Dow Jones Industrial Average fell 9.63 points, or +0.03%, to 33,620.98, the S&P 500 gained 17.57 points, or +0.45%, to 3,912.65 and the Nasdaq Composite added 138.83 +points, or 1.31%, to 10,708.12.Friday's jobs report, which showed a moderation in wage +increases, also lifted hopes that the Fed might become less +aggressive in its rate-hike push to reduce inflation.Tesla Inc climbed after the electric-vehicle maker +indicated longer waiting times for some versions of the Model Y +in China, signaling the recent price cuts could be stoking +demand.Macy's Inc and Lululemon Athletica Inc fell +after both retailers issued disappointing holiday-quarter +forecasts.Advancing issues outnumbered decliners on the NYSE by a +2.60-to-1 ratio; on Nasdaq, a 1.93-to-1 ratio favored advancers.The S&P 500 posted 13 new 52-week highs and two new lows; +the Nasdaq Composite recorded 114 new highs and 23 new lows. +(Additional reporting by Shubham Batra, Amruta Khandekar and +Ankika Biswas in Bengaluru; Editing by Shounak Dasgupta and +Richard Chang) \ No newline at end of file diff --git a/news/AMZN/2023.01.09/UK firms considering redundancies to manage high costs - BDO report.txt b/news/AMZN/2023.01.09/UK firms considering redundancies to manage high costs - BDO report.txt new file mode 100644 index 0000000000000000000000000000000000000000..7d84fce4e7a8e0505eb1144449686da92959ca04 --- /dev/null +++ b/news/AMZN/2023.01.09/UK firms considering redundancies to manage high costs - BDO report.txt @@ -0,0 +1 @@ +(Alliance News) - Pessimism and low confidence among British businesses has led firms' recruitment plans to reach the lowest levels in two years, an influential report has found.Employers are pausing hiring plans and considering redundancies to manage rising costs, accounting and advisory firm BDO said in its analysis of more than 4,000 businesses surveyed across different sectors.Optimism and productivity eked up by a fraction in December, but it followed a significant drop in November, therefore remaining well below historic levels.BDO uses employment, inflation, optimism and productivity indices to get an overall picture of business sentiment. A score above 95 represents growth, and anything below is considered a contraction.In the latest report, business productivity and optimism were both given scores below 92, putting them firmly in negative territory.It was partly dragged down by declining manufacturing output, as global supply chain disruption has made it harder for firms to get hold of important materials, and energy prices have spiked.The services sector was a welcome bright spot with productivity increasing fractionally since the last report, indicating that consumers were more active over the typically busier Christmas period.Meanwhile, the employment index was scored just under 111 points, but it represents the weakest reading since January 2022.Furthermore, hiring intentions among businesses reached the lowest level since the end of 2020 when the UK was hit by the Omicron wave of Covid and faced further lockdowns.It suggests that employers are having to pause recruitment as they face higher costs and the looming threat of a recession, and are even having to make more redundancies, BDO said.Kaley Crossthwaite, a partner at BDO, said: "Although output and confidence levels grew slightly in December, the marginal upticks will do little to calm the nerves of UK businesses."Inflation and supply chain pressures are clearly being felt across the board, as employers pause recruitment plans and consider redundancies to manage rising costs."With an expected recession increasing pressure on the UK economy, firms will be looking for the right support from the government as it works to encourage growth and confidence in the run-up to the spring budget."Amazon.com Inc said it plans to cut more than 18,000 jobs across the globe, including in Europe, blaming the "uncertain economy" for the cuts.And software firm Salesforce.com Inc also recently announced it would be making a wave of redundancies, which could affect hundreds of staff in the UK.Analysts have suggested that many businesses hired rapidly over the pandemic and now are being met with weaker demand amid an economic downturn, prompting them to find ways to cut costs.source: PACopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AMZN/2023.01.10/ABL Space Systems' rocket fails on maiden launch.txt b/news/AMZN/2023.01.10/ABL Space Systems' rocket fails on maiden launch.txt new file mode 100644 index 0000000000000000000000000000000000000000..6948c9375cd9464fa346602b83ed039a1a36aa07 --- /dev/null +++ b/news/AMZN/2023.01.10/ABL Space Systems' rocket fails on maiden launch.txt @@ -0,0 +1 @@ +"After liftoff, RS1 experienced an anomaly and shut down prematurely," ABL said in a tweet.The startup's previous attempt at launch was on Monday, but pushed the launch to Tuesday due to high winds. ABL faced a series of delays due to weather and technical reasons late last year.ABL's flagship RS1 rocket, standing 88 feet or nearly 12 storeys tall, is designed to lift 2,976 pounds (1,350kg) of small satellites into orbit, and is at the center of the startup's aim to compete with a growing field of small rocket builders.ABL, founded in 2017, raised $200 million in fresh capital in an October 2021 funding round that valued the startup at $2.4 billion at the time, the company said. The funding was used to scale development of the RS1 rocket.The startup, in which Lockheed Martin Corp is an investor, is racing to make its first trek to orbit and kick off a business tailored for small satellites, such as low-Earth orbiting internet satellite constellations.Amazon.com Inc chose Boeing-Lockheed Martin joint venture United Launch Alliance to replace ABL's contract for its first two prototype satellite launches early this year after delays over RS1 development.The ecommerce firm's contract for at least two launches with the startup is still valid, although Amazon is unsure which satellites will use those rockets.Lockheed Martin inked a block-buy contract with ABL in 2021 for up to 58 rocket launches, a deal potentially worth hundreds of millions of dollars.The California-based company looks to charge customers about $12 million per launch of its rocket or nearly $9,000 per kilogram for launch into low-Earth orbit.While companies such as SpaceX and Rocket Lab USA Inc operate reusable rockets and others are developing similar launch vehicles, ABL aims to rapidly produce its low-cost RS1 rocket that cannot be used more than once. (Reporting by Akash Sriram and Baranjot Kaur in Bengaluru and Joey Roulette; Editing by Maju Samuel and Christopher Cushing) \ No newline at end of file diff --git "a/news/AMZN/2023.01.10/Amazon Com : EPIX will rebrand as MGM+ on January 15\342\200\224here are all the new shows and ...txt" "b/news/AMZN/2023.01.10/Amazon Com : EPIX will rebrand as MGM+ on January 15\342\200\224here are all the new shows and ...txt" new file mode 100644 index 0000000000000000000000000000000000000000..ccdd1545548963ce17c83c6743167c798025b950 --- /dev/null +++ "b/news/AMZN/2023.01.10/Amazon Com : EPIX will rebrand as MGM+ on January 15\342\200\224here are all the new shows and ...txt" @@ -0,0 +1,198 @@ + + + MGM+ announces premiere dates for 'A Spy Among Friends,' 'FROM,' and 'Murf the Surf.' + + + + MGM's former streaming platform, EPIX, will relaunch as MGM+ (an Amazon-owned company) starting January 15. The newly branded, premium linear streaming service will offer a broad lineup of original series and docuseries, the latest movie releases, and classic film franchises-all available in the U.S. on TV, on demand, online, and across devices. + + + "It's a new beginning for our service, as we introduce MGM+ and its distinctive brand promise to viewers on January 15," said Michael Wright, head of MGM+. "MGM+ will deliver on its iconic and beloved studio legacy, with cinematic, sophisticated, and transportive storytelling that audiences love." + + + Wright has unveiled a new programming lineup and original content production plans for MGM+, including premiere dates for Season Three of the critically acclaimed drama series Godfather of Harlem (January 15), the true-crime docuseries Murf the Surf (February 5), the six-episode limited series A Spy Among Friends (March 13), and the contemporary sci-fi horror FROM (April 23). + + + Keep reading for a list of all the MGM+ originals, renewals, and acquired series announced so far. + + + Returning shows + + + 'Godfather of Harlem' + + + Available January 15 + + + A gangster named Bumpy Johnson makes his way in Harlem during the 1960s in Godfather of Harlem, a TV prequel to the 2007 film American Gangster, which centered on the criminal enterprise of Frank Lucas. The series stars and is executive produced by Academy Award-winning actor Forest Whitaker, and is created by Chris Brancato and Paul Eckstein (Narcos). + + + 'FROM' + + + Available April 23 + + +FROM unravels the mystery of a nightmarish town that traps all those who enter. The stellar ensemble cast is led by Harold Perrineau (Lost), and the series is created and executive produced by John Griffin (Crater), directed and executive produced by Jack Bender (Game of Thrones), and executive produced by showrunner Jeff Pinkner (Lost). + + + New to MGM+ + + + 'Murf the Surf' + + + Available February 5 + + +Murf the Surf, based on the infamous jewel thief Jack Roland Murphy, is written and directed by Emmy winner R.J. Cutler (Billie Eilish: The World's a Little Blurry) and executive produced by Imagine Entertainment's Brian Grazer and Ron Howard. + + + 'A Spy Among Friends' + + + Available March 13 + + +A Spy Among Friends is based on the New York Times best-selling book written by Ben Macintyre, which follows the adventures of a British intelligence officer who learns his close friend and colleague might be a double agent. The series stars Golden Globe- and Emmy-winning actor Damian Lewis (Homeland), Emmy winner Guy Pearce (Mare of Easttown), and Anna Maxwell Martin (Motherland). + + + MGM+ originals in development + + + 'American Classic' + + +American Classic is a half-hour comedy about a man desperately trying to save himself, his family, and his hometown in the only way he knows how-by putting on a show. Broadway star and notorious narcissist Richard Bean (Kevin Kline) suffers a spectacular public meltdown, and decides to return home to the family-run theater where he first became aware of his own brilliance. When he arrives, he's shocked to find that his brother (Jon Tenney), and his brother's wife (who also happens to be his former lover), have turned his temple of art into a dinner theater-with the emphasis on dinner. To make matters worse, his hometown of Millersberg is teetering on the edge of economic disaster. Inspired, Richard vows to put on a show so great that it will save the theatre, the town, and, most importantly, his career. But with the family and town in chaos, the constant threat of financial ruin, and Richard's enormous ego, will they even make it to opening night? Michael Hoffman, Bob Martin, Leslie Urdang, Kline, Anthony Bregman, and Miriam Mintz are attached as executive producers. American Classic is being developed as a co-production between MGM+ Studios and Anonymous Content's AC Studios. + + + 'Ark' + + + It's 2030, the oceans have risen rapidly, and soon, the entire planet will be submerged. But the discovery of another life-sustaining planet light-years away gives those who remain alive hope. Only a few will be able to make the unprecedented, generations-long journey, and those who don't make the cut face a watery death. Based on the books by Stephen Baxter, the series is in development as a co-production between MGM+ Studios and Anonymous Content. Joe Pokaski and Vince Gerardis are attached as executive producers. + + + +Who's that actor? What's that song? Prime Video's interactive X-Ray feature has the answer + + + A step-by-step guide to X-Ray, Prime Video's exclusive viewing experience that allows you to find and view bonus content for your favorite TV shows and movies. + + +Read more + + + + 'Billy the Kid' Season Two + + + Featuring an ensemble cast led by Tom Blyth (TheHunger Games: The Ballad of Songbirds and Snakes), the epic romantic adventure inspired by the life of America's most infamous outlaw continues in Season Two, as Billy and his allies square off against his oldest friend Jesse Evans (Daniel Webber) and the corrupt powers of the Santa Fe Ring. When shots are fired, the conflict erupts into the bloody Lincoln County War. Amidst the fighting, Billy will struggle to hang onto his soul-and to the love of his life. Creator, writer, and executive producer Michael Hirst (Elizabeth, The Tudors, Vikings) will return for the second season alongside executive producers Donald De Line (De Line Pictures), Darryl Frank, and Justin Falvey (Amblin Television). The series is a co-production between MGM+ Studios and MGM International Television Productions, in association with Amblin Television and De Line Pictures. Production will begin in Canada later this year. + + + 'Earth Abides' + + + When a plague of unprecedented virulence sweeps the globe, the human race is all but wiped out. In the aftermath, as the great machine of civilization slowly and inexorably breaks down, only a few shattered survivors remain to struggle against the slide into barbarism-or extinction. Based on the novel by George R. Stewart, MGM+ Studios is developing, with Michael Phillips, Juliana Maio, and Kearie Peak attached as executive producers. + + + 'Hoodlum' + + + Based on the 1997 MGM film written by Chris Brancato, this drama series set in the 1930s follows the true story of Harlem numbers queen Stephanie St. Clair's rise to prominence and mentorship of Ellsworth "Bumpy" Johnson. MGM+ Studios is developing, and Brancato and Monica Macer are co-creating and executive-producing. + + + 'Hotel Cocaine' + + +Hotel Cocaine follows a CIA operative and manager of The Mutiny Hotel through Miami's cocaine scene in the late '70s and early '80s. The crime thriller is executive produced by Chris Brancato and is scheduled to premiere next winter. + + + 'Hollywood Black' + + + Based on the book by historian Donald Bogle, this four-part docuseries tells the epic story of the actors, writers, directors, and producers who fought for their place on the page, behind the camera, on the screen, and in the credits. It is a definitive chronicle of a century of the Black experience in Hollywood and a powerful reexamination of a quintessentially American story-in brilliant color. Culture Machine's Justin Simien (Dear White People, Bad Hair) and Kyle Laursen, Significant Productions' Forest Whitaker and Nina Yang Bongiovi (Godfather of Harlem), and RadicalMedia's Dave Sirulnick, Stacey Reiss, and Jon Kamen (Summer of Soul) will all serve as executive producers. Simien and Jeffrey Schwarz (Tab Hunter Confidential, I Am Divine) are set to direct. + + + +How to watch every 'The Lord of the Rings' included with Prime Video + + + Great news for J.R.R. Tolkien fans-there's now a central place to watch all of 'The Lord of the Rings' series and films. + + +Read more + + + + 'Hot Stuff' + + + Mention the word "disco" to most people and it brings back memories of a plastic music fad, the movie Saturday Night Fever, and the infamous New York City club Studio 54. Yet there is so much more to the story. Hot Stuff is a four-part docuseries that dives into what was nothing less than a liberation movement. From its birth in underground gay clubs, where DJs broke new music on their twin turntables, disco, with its infectious 4/4 beat and powerful basslines, exploded on the scene in the 1970s. From rampant hedonism to rule-breaking fashion, to a bevy of divas with luscious vocals, disco marked a transformation in the look and sound of a society ready for change. Was disco the forgettable fast-food of pop music, or was it a cultural revolution that still resonates today? Oscar-nominated documentary studio XTR (They Call Me Magic) will be producing the series, while David Friendly and Lesley Chilcott are attached as executive producers. + + + 'The Devil Within' + + + This four-part true-crime docuseries is based on the hit Cavalry Audio podcast The Devil Within, which follows the mysterious murder of Betty Ann Sullivan during the height of the Satanic Panic. Filled with twists, turns, and iconic legends, the series fuses true crime with horror. Simply put, what started as a dark, small-town murder investigation quickly spiraled into a paranormal mystery. Executive produced by Eli Roth, with executive producers Dirk Hoogstra and Nicole Sorrenti for Half Yard Productions, a North Road Company. + + + 'Rogue Heroes' Season Two + + + This critically acclaimed hit drama seriesfrom Peaky Blinders creator Steven Knight will return for a second season in 2024. Season One followed David Stirling (Connor Swindells), Jock Lewes (Alfie Allen), and Paddy Mayne (Jack O'Connell) in a dramatized account of how the British Army's Special Air Service (SAS) unit was formed in the darkest days of World War II, with fellow cast members including Dominic West, Sofia Boutella, Tom Glynn-Carney, and Theo Barklem-Biggs. The second season will show viewers what comes next for the SAS, following the dramatic turn of events in Season One's finale episode. Production on this six-part series with a 100% Rotten Tomatoes score will begin in 2023. + + + 'San Francisco Sounds' + + + This two-part documentary series tracks the history of the San Francisco music scene from 1965 to 1975. It is scheduled to premiere in the fall 2023. + + + 'The Emperor of Ocean Park' + + + From John Wells Productions and Warner Bros. Television, The Emperor of Ocean Park is a thrilling, suspenseful take on Stephen L. Carter's best-selling novel. Set in the worlds of D.C. politics, Ivy League academia, and the beaches of Martha's Vineyard, the series centers on Talcott Garland's quiet life as an Ivy League law professor whose world is shattered when his father, Judge Oliver Garland, dies of an apparent heart attack. The nature of the judge's death is questioned by Tal's sister, Mariah, a former journalist and constant conspiracy theorist, who believes that the judge, a former failed Black nominee to the Supreme Court, met with foul play. Sherman Payne is the writer, with Damian Marcano attached to direct. + + + 'Wonderland Murders & the Secret History of Hollywood' + + + When best-selling crime novelist Michael Connelly discovered that Scott Thorson, best known as Liberace's lover and author of the tell-all Behind the Candelabra, held the keys to the infamous Wonderland Murders, he only had one problem: Thorson's stories sounded too unbelievable to be true. As the stories got weirder and wilder, and Thorson's own "nine lives" stretched beyond the Wonderland Murders themselves, Connelly struggled with how far to follow this unreliable narrator. Connelly (The Lincoln Lawyer, Bosch, Bosch: Legacy) executive produces the four-episode documentary series alongside Jen Casey and Nick Gilhool for Miziker Content; Eli Holzman and Aaron Saidman for The Intellectual Property Corporation (IPC), a part of Sony Pictures Television; and Rick Jackson. Alison Ellwood (The Go-Go's, How to Change Your Mind, Laurel Canyon) will direct as well as executive produce. + + + More movies and shows from major Hollywood studios + + + The MGM+ service will also provide an expansive library of film titles from MGM and other major Hollywood studios. The library of titles includes blockbusters like Top Gun: Maverick; MGM hits NoTime to Die and House of Gucci; and beloved franchises like James Bond and Rocky. The service also offers fan favorites like The Silence of the Lambs,Platoon, Robocop, The Magnificent Seven, The Wolf of Wall Street, Star Trek: Into Darkness, The Lost City, Barbershop, The Pink Panther, In the Heat of the Night, The Thomas Crown Affair, A Quiet Place, and Father of the Bride. + + + MGM+ will continue to be available nationwide through cable, telco, satellite, and emerging digital distribution channels, as well as through the MGM+ app, providing more movies than any other network with thousands of titles available for streaming. Get more information about the current MGM+ lineupand follow along with updates on Twitter, Instagram, Facebook, TikTok, and YouTube. + + + + + Related Tags + + +EntertainmentPrime VideoAmazon Studios + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amazon.com Inc. published this content on 11 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 January 2023 01:58:09 UTC. + + diff --git a/news/AMZN/2023.01.10/Amazon Says Have Launched Consultation On Proposed Closure Of Three Fulfilment Centres ...txt b/news/AMZN/2023.01.10/Amazon Says Have Launched Consultation On Proposed Closure Of Three Fulfilment Centres ...txt new file mode 100644 index 0000000000000000000000000000000000000000..ba3d12037b024d653b1d2da7e47b6a660efcff8e --- /dev/null +++ b/news/AMZN/2023.01.10/Amazon Says Have Launched Consultation On Proposed Closure Of Three Fulfilment Centres ...txt @@ -0,0 +1,5 @@ +Jan 10 (Reuters) - Amazon.com Inc:* AMAZON SAYS HAVE LAUNCHED A CONSULTATION ON THE PROPOSED +CLOSURE +OF THREE FULFILMENT CENTRES IN UK IN 2023 - STATEMENT* AMAZON- PLAN TO OPEN TWO NEW FULFILMENT CENTRES IN UK +CREATING +2,500 NEW JOBS OVER THE NEXT THREE YEARS \ No newline at end of file diff --git a/news/AMZN/2023.01.10/Amazon faces renewed pressure from UK lawmakers over warehouse conditions.txt b/news/AMZN/2023.01.10/Amazon faces renewed pressure from UK lawmakers over warehouse conditions.txt new file mode 100644 index 0000000000000000000000000000000000000000..15faf09b51460876aa41e4d852ca4c32ca94b86f --- /dev/null +++ b/news/AMZN/2023.01.10/Amazon faces renewed pressure from UK lawmakers over warehouse conditions.txt @@ -0,0 +1,55 @@ +LONDON, Jan 10 (Reuters) -UK lawmakers have called on Amazon to clarify +comments made by a senior executive at a recent parliamentary +hearing, after an advocacy group accused him of providing +"misleading" evidence concerning the company's treatment of +warehouse workers.An Amazon spokesperson told Reuters the company strongly +denied the executive - European policy chief Brian Palmer - had +misled parliament when he testified to the Business, Energy, +and Industrial Strategy (BEIS) Select Committee on Nov. 15 as +part of a wide-reaching panel on technology in the workplace.At issue is whether Amazon uses tracking technology in +its warehouses in Britain primarily to surveil worker +productivity – a claim Amazon has repeatedly denied – or to +promote worker safety, as the company says.In response to a question about workplace surveillance from +the chairman of the committee, Labour MP Darren Jones, Palmer +said it was used mostly to monitor goods rather than people: +"They are not primarily or even secondarily to identify +under-performers. Performance-related feedback is really focused +on safety."Palmer also told MPs that Amazon continues to "perform +better than industry" on employee safety, and he said warehouse +workers could easily access their performance targets through +"online tools that are made available to every single employee".In a Dec. 2 letter seen by Reuters, Foxglove, a London-based +worker advocacy group, wrote to the committee disputing Palmer's +statements."Brian Palmer's evidence was materially misleading in +several respects," the letter said, refuting his statements on +the use of tracking tools, Amazon's track record on safety and +the transparency of workers' performance targets. It cited legal +filings related to U.S. court cases where regulators say safety +risks arose because of productivity pressure, and testimony from +workers at five warehouses in the UK."The Committee may wish to clarify with Mr Palmer and Amazon +whether the company can prove that the position is different in +UK warehouses - a matter that Amazon should be asked to +demonstrate with evidence, rather than merely assert," the group +said.Committee member Andy McDonald, MP for Middlesbrough for the +opposition Labour party, said he had raised concerns about +Palmer's testimony in writing with the group, after viewing +Foxglove's letter."We were extremely unhappy with his testimony," McDonald +told Reuters. "If somebody comes before the Committee and +misleads us, they are duty-bound to correct the record."Rather than recall Palmer, however, Committee chair Jones +has written to Amazon, outlining eight points he said required +further explanation, related to allegations of employee +surveillance and health and safety data."If the Committee isn't satisfied with the quality of the +answers we will call Amazon to give further public evidence," he +wrote.Palmer declined a Reuters request for comment.An Amazon spokesperson said that Amazon used CCTV cameras +"to ensure the safety of employees and security of products".Amazon has a system to recognize strong performance by +employees and to encourage coaching for those who are not +meeting their goals, the spokesperson said."To suggest that the use of these standard business +practices amount to surveillance of employees is wrong," the +Amazon spokesperson added.Labour's Shadow Minister for Employment Rights and +Protections, Justin Madders MP, told Reuters his party would +introduce legislation "to protect workers from surveillance" +should it win the next general election in Britain.The incident comes at a time when Amazon is facing +accusations by the U.S. Department of Labor that it failed to +properly record work-related injuries and illnesses at six +warehouses in five states.Amazon has until Jan. 24 to respond to Jones' letter. +(Reporting by Martin Coulter +Editing by Daniel Flynn and Aurora Ellis) \ No newline at end of file diff --git a/news/AMZN/2023.01.10/Amazon plans to shut three UK warehouses, impacting 1,200 jobs - PA.txt b/news/AMZN/2023.01.10/Amazon plans to shut three UK warehouses, impacting 1,200 jobs - PA.txt new file mode 100644 index 0000000000000000000000000000000000000000..e81840cb410fb5cb952e7f6924dcf5baae857a26 --- /dev/null +++ b/news/AMZN/2023.01.10/Amazon plans to shut three UK warehouses, impacting 1,200 jobs - PA.txt @@ -0,0 +1 @@ +An Amazon representative did not immediately respond to a request for comment.The Seattle-based online retailer last week said it would cut more than 18,000 roles, impacting its e-commerce and human resources organizations - the latest in a series of layoffs to affect the tech industry.Separately, Amazon's UK business has also faced demands for better pay from its warehouse staff, about 300 of whom plan to go on strike on Jan. 25. (Reporting by Sachin Ravikumar, Editing by Kylie MacLellan) \ No newline at end of file diff --git a/news/AMZN/2023.01.10/Amazon to shut down three warehouses in Britain.txt b/news/AMZN/2023.01.10/Amazon to shut down three warehouses in Britain.txt new file mode 100644 index 0000000000000000000000000000000000000000..f70e5b62b9dbc26b02f9c20d17c24273673eb071 --- /dev/null +++ b/news/AMZN/2023.01.10/Amazon to shut down three warehouses in Britain.txt @@ -0,0 +1 @@ +Amazon has entered consultations to shut down three of its warehouse locations in Britain, the company confirmed Tuesday. The warehouses in Doncaster, Hemel Hempstead and Gourock will be shut down this year.Approximately 1,200 workers will be affected by the shutdowns, but Amazon said all of them will be offered positions at other locations.Two new warehouses will open in Peddimore and Stockton-on-Tees in the next three years and create up to 2,500 new jobs, Amazon said.Earlier this month Amazon announced they would lay off more than 18,000 workers in the United States, but the company said the shutdown of British facilities is unrelated to the layoffs.Amazon saw a surge in business during the COVID-19 pandemic but has struggled to maintain pandemic-level sales as customers return to retail outlets. Over the past year Amazon has lost 46% of its stock value on the Nasdaq index.The GMB Union, which represents many warehouse workers, called the move a "kick in the teeth," and is expected to go ahead with a strike at Amazon's Coventry warehouse on Jan. 25.Copyright 2023 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source International Top News \ No newline at end of file diff --git a/news/AMZN/2023.01.10/Amazon to widely launch 'Buy with Prime', says offering improved merchant sales.txt b/news/AMZN/2023.01.10/Amazon to widely launch 'Buy with Prime', says offering improved merchant sales.txt new file mode 100644 index 0000000000000000000000000000000000000000..fb430dfbfae7b5c42ae3155a6917d0147da52a18 --- /dev/null +++ b/news/AMZN/2023.01.10/Amazon to widely launch 'Buy with Prime', says offering improved merchant sales.txt @@ -0,0 +1 @@ +'Buy With Prime', which was launched as an invite-only offering in April, will be widely available to U.S.-based merchants by Jan. 31, the company said. It added that the product has increased shopper conversion rate by an average of 25%, meaning that many more people placed an order when 'Buy with Prime' was available versus when it was not.Prime members, who pay $139 per year and drive most of Amazon's sales volume, can buy products from these merchants by clicking the 'Buy With Prime' button on their storefront.The offering competes with the Shopify Pay feature offered by the Canadian company, which has emerged as an alternative for online merchants looking to directly sell products to consumers.Several Amazon merchants, mostly small and medium-sized, started selling products directly to customers via their websites during the pandemic, citing high shipping costs and limited warehouse capacity.CNBC had reported in September that Shopify was warning merchants trying to install 'Buy With Prime' button that the feature violates its terms of service. (Reporting by Yuvraj Malik in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/AMZN/2023.01.10/Amazon's Buy with Prime Increases Shopper Conversion by an Average of 25%.txt b/news/AMZN/2023.01.10/Amazon's Buy with Prime Increases Shopper Conversion by an Average of 25%.txt new file mode 100644 index 0000000000000000000000000000000000000000..fa2dbec73bedf4ea965bb0b6e5f98b610b8ce8ee --- /dev/null +++ b/news/AMZN/2023.01.10/Amazon's Buy with Prime Increases Shopper Conversion by an Average of 25%.txt @@ -0,0 +1,33 @@ + +Amazon today announced that Buy with Prime, the company’s direct-to-consumer offering for merchants’ own online stores, has been shown to increase shopper conversion by an average of 25%. Launched in April, Buy with Prime empowers merchants to extend the proven and trusted benefits of Prime—fast, free delivery, a seamless checkout experience, and easy returns—on their own online stores to build their brands and establish direct customer relationships. + +Amazon also announced today that Buy with Prime will be widely available to U.S.-based merchants by January 31. Previously, Buy with Prime was available to merchants by invitation only. The company also announced the launch of Reviews from Amazon, a new capability to help Buy with Prime merchants increase shopper trust and conversion and better inform purchase decisions on their own online stores. + +“We’ve been working closely with merchants since the launch of Buy with Prime and have been thrilled to hear the results it’s helped drive for them so far,” said Peter Larsen, Amazon vice president of Buy with Prime. “We’ll continue innovating and investing in new features, such as Reviews from Amazon, to help merchants of all sizes succeed and give Prime members the shopping benefits they love, whether it’s on Amazon or beyond.” + +Increased Conversion: Driving traffic and converting shoppers are two primary pain-points for direct-to-consumer merchants. This data shows that offering Buy with Prime increases conversion by an average of 25%. This data point measures the average increase in shoppers who placed an order when Buy with Prime was an available purchase option versus when it was not, during the same time period. In September, Amazon released traffic-driving solutions to help merchants attract shoppers. + +“Our mission is to make smart home technology accessible to everyone, and that’s why we were quick to jump at the chance to offer Buy with Prime and the Prime shipping promise to our customers,” said Logan Dunn, head of ecommerce at Wyze. “I mean, who doesn't want an accelerated checkout and fast, free shipping? Our customers seem to agree. We're seeing a 25% higher conversion rate, and we've now added Buy with Prime to all eligible products in our catalog.” + +“Trophy Skin was founded in 2013 with the idea that costly in-office skincare treatments should be available at home,” said Susie Tew, director of ecommerce, Trophy Skin. “Adding Buy with Prime on our website allows us to take that idea further by giving Prime members the option to purchase skincare tools and topicals with fast, free shipping and hassle-free returns. When given the option to check out using Buy with Prime, we see a conversion rate increase of over 30%.” + +“As we continue to optimize our direct-to-consumer channels, we need to ensure our customers receive the same level of service wherever they shop, especially on our website,” said Emily Lease, director of ecommerce, Hydralyte. “Buy with Prime allows us to tap into our existing omni-channel operation to help build an even stronger ecommerce presence in the U.S. After adding Buy with Prime, we have seen a 14% increase in conversion.” + +Reviews from Amazon: Buy with Prime merchants are now able to display ratings and reviews from Amazon customers on their own online stores for no additional cost. When an Amazon shopper leaves a rating and review for a brand’s product on Amazon.com, the same rating and review will now appear on the product pages of a merchant’s own online store, wherever Buy with Prime is enabled. Created more than 20 years ago by Amazon to help customers inform their purchase decisions, customer reviews and ratings can help Buy with Prime merchants further increase shopper trust and conversion. + +“We are super excited to add Reviews from Amazon to our store,” said Javier Rabago, co-founder, Sustainable Glam. “By having our Amazon reviews shown directly on our website, it shows new customers what Amazon customers are saying about the quality and performance of our products and gives them confidence in their purchases.” + +Wide Availability: Buy with Prime will be widely available to interested U.S.-based merchants by January 31. Previously, Buy with Prime was available by invitation only. + +Buy with Prime is designed to work with most online stores, including ecommerce service providers such as BigCommerce. Today, BigCommerce announced it will launch the Buy with Prime app with BigCommerce in Q1 2023, which allows merchants to quickly add Buy with Prime to their BigCommerce site with no coding required. + +Learn more about Buy with Prime here. + +About Amazon + +Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews. + +Every Day Made Better with Prime + +Prime membership offers the best of shopping, savings and entertainment to make life every day more convenient, budget-friendly and fun. In the U.S. that includes free, fast delivery on millions of items—including prescription medication, grocery pickup and ultrafast delivery, unlimited streaming of movies and series like The Lord of the Rings: The Rings of Power and live sports like Thursday Night Football with Prime Video, ad-free listening of 100 million songs and millions of podcast episodes with Amazon Music, free games with Prime Gaming, more than 3,000 books and magazines with Prime Reading, unlimited photo storage with Amazon Photos, and incredible savings with Prime Day. Members can also enjoy a free, one-year Grubhub+ membership trial valued at $9.99 per month—at no added cost to their Prime membership for the first 12 months. Anyone can join Prime for just $14.99 per month or $139 per year, or start a free 30-day trial at amazon.com/prime. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230110005233/en/ \ No newline at end of file diff --git a/news/AMZN/2023.01.10/Exclusive-EU wants details of Big Tech, telcos investment plans - source.txt b/news/AMZN/2023.01.10/Exclusive-EU wants details of Big Tech, telcos investment plans - source.txt new file mode 100644 index 0000000000000000000000000000000000000000..4c1ed4c0b1e40fcf28993c5f2129a29a95f65e9a --- /dev/null +++ b/news/AMZN/2023.01.10/Exclusive-EU wants details of Big Tech, telcos investment plans - source.txt @@ -0,0 +1 @@ +Deutsche Telekom, Orange, Telefonica, Telecom Italia and the big operators say such a move is all about a fair share contribution as the six largest content providers account for just over half of data internet traffic.Alphabet Inc unit Google, Netflix Inc, Meta, Amazon.com Inc and other tech giants say the idea amounts to an internet traffic tax that could undermine Europe's net neutrality rules treating all users equally.The Commission plans to launch a public consultation with a lengthy questionnaire next week, although the timing may still change, the person said. It will likely last about 12 weeks before the Commission drafts legislation that EU countries and EU lawmakers will need to thrash out before it can become law.The Commission will ask Big Tech and telecoms what they are investing in, how this will evolve and whether there is an investment gap, the person said.They will be asked on their views on a shift into cloud infrastructure and the investments needed for this as regulators want the debate to go beyond spending on cables and tower.Regulators also want to know about the relationship between Big Tech and telecoms providers.The Commission will ask consultation participants about the regulatory responses in other parts of the world on network fees, such as in South Korea and Australia, and the lessons learned from these. (Reporting by Foo Yun Chee; Editing by Josie Kao)By Foo Yun Chee \ No newline at end of file diff --git a/news/AMZN/2023.01.10/FOMO drives markets.txt b/news/AMZN/2023.01.10/FOMO drives markets.txt new file mode 100644 index 0000000000000000000000000000000000000000..ff693fc5cb947d97eced06053bd25a2f47bb0e6b --- /dev/null +++ b/news/AMZN/2023.01.10/FOMO drives markets.txt @@ -0,0 +1,51 @@ + +Here we are once again. You know that moment you've experienced dozens of times when you see risky stocks go into the stratosphere while your nice quality stocks stay stuck on the ground, when they're not digging a hole. It’s due to FOMO, the fear of missing out. It was a powerful driver of stock performance when money was free and kept alive companies that had no business model other than the ability to raise money ad nauseam. But it has not disappeared and strengthens rebound phases like the one that is currently taking shape. It is the force that is boosting Tesla and Just Eat, while knocking out Eli Lilly. + +In short, the most daring investors are taking more daring bets, while the most cautious are watching the train go by, thinking that it will derail. It has been the same story for decades when there is a debate about a market inflection point. In this case, a majority of investors believe that there is a cluster of converging signals that central banks will soon hit the ceiling of their monetary tightening cycle. In the US, the implied peak in policy rates is, as I write, 4.93% next June, while the current Fed Funds range is 4.25% to 4.50%. In other words, there are not many more rate hikes to get there (remember that a year ago, the range was 0 to 0.25%). Moreover, the CME's FedWatch tool shows an 80% probability in favor of a 0.25% rate hike, the bare minimum, at the Fed's February 1 meeting. A month ago, the odds were still 50/50 between a 25 point rate hike and a 50 point rate hike. +While the various players are in rough agreement on the rate hike, there is much more divergence on two other unknowns. First, how long rates will remain at the assumed ceiling, and second, how much damage this will do to the economy. This is where the main questions currently lie, except for the most extreme camps. The one that thinks that the Fed is fooling itself with this punitive policy when inflation would have evaporated by itself. And at the other end of the spectrum, the one that believes that stagflation is inevitable because of past policy mistakes. +In this context, the Fed's rhetoric no longer seems to be the gospel. At least not as much as it did for most of 2022. The Fed may be making more and more calls for caution on inflation, but it's still rowing a bit. Yesterday, Raphael Bostic and Mary Daly, two of the central bank's regional governors, each spoke of a rate peak above 5%. This did not make the bond market hot or cold, with a 10-year still positioned around 3.52%, whereas it had exceeded 4.3% at the end of October. Translation? The market is no longer as worried as it was in the fall, after a series of statistics showing that economic overheating is dissipating. It does not believe that the Fed will go beyond 5%. +As I write these lines, supreme leader Jerome Powell is due to speak at a panel discussion. Some commentators believe that he will say inflation is still an issue and that it will keep raising rates until it is under control. Others believe that he might not comment on markets at all. +Meanwhile, on the equity side, risk appetite has been reawakened. US indices still lost some of their gains from the previous day's session, which even caused the S&P500 to fall slightly at the close (-0.08%) yesterday. But the Nasdaq remained up 0.62%, driven by semiconductors and massive purchases of stocks heavily punished over the past months, such as Tesla or DocuSign. In Europe, despite a small drop at the end of the day, the indices still shone. The French CAC40, for example, broke through the 6,900-point barrier for the fourth time in five sessions in 2023. This is the highest level since February 2022. +This morning, in premarket trading, Wall Street’s three main indexes remained in the red ahead of Powell’s speech. +  +Economic highlights of the day: +On the agenda, US wholesale sales for November (10:00am). All the agenda is here.  +The dollars is slightly up to EUR 0.9327 and GBP 0.8239. The ounce of gold is flat at USD 1873. Oil retreats slightly, with North Sea Brent crude at USD 79.90 per barrel and US WTI light crude at USD 75.17. The yield on 10-year US debt comes out slightly lower at 3.54%. Bitcoin is trading around 17,200 dollars. +  +In corporate news: +* Microsoft is discussing a $10 billion investment in OpenAI, the owner of the conversational robot ChatGPT, media outlet Semafor reported, citing sources close to the matter. +* Apple plans to replace in 2025 in its devices the Wifi and Bluetooth chips designed by Broadcom with its own products, Bloomberg reported Monday, citing sources close to the case. Broadcom was down 0.9% in pre-market trading. +* Amazon plans to close three warehouses in the U.K., which could affect 1,200 jobs, PA Media reported. +* Virgin Orbit was down 23.3% in premarket trading Tuesday after a failed satellite launch into space from the U.K. The group owned by British billionaire Richard Branson announced that an anomaly had prevented the Cosmic Girl rocket, carried by a modified Boeing 747, from reaching orbit. +* Pfizer is not discussing with Chinese authorities a license for generic versions of its anti-COVID-19 treatment Paxlovid in China, Chief Executive Albert Bourla said on Monday, reacting to a report by Reuters on Friday. The discussions are only about the price at which Paxlovid will be offered in China, the Pfizer boss said. +* CVS Health is considering an acquisition of health-care center operator Oak Street Health Bloomberg reported Monday, citing sources close to the matter. Oak Street Health shares jumped 28 percent in after-hours trading. +* The Carlyle Group - The U.S. private equity firm has acquired a majority stake in Indian beauty and wellness products group VLCC for about $300 million, two sources told Reuters on Tuesday. +* Jefferies Financial Group - The investment bank reported a 52.5 percent drop in fourth-quarter profit on Monday amid lower fees and market volatility that weighed on trading revenue. +* Coinbase Global gained 4.8% in premarket trading after the company announced a plan to cut nearly 1,000 jobs by the second quarter. +* Illumina plunged 10.03% in premarket trading after it lowered its revenue growth forecast for this year to a range of 7%-10% from 10%. +* Bed Bath & Beyond gained 4.9% in premarket trading before the release of its quarterly results. +* Agilent Technologies gained 1% in after-hours trading on the announcement of an additional $2 billion share buyback program beginning March 1. +  +Analyst recommendations: + +Admiral: Deutsche Bank upgraded from hold to buy. +Ally Financial: Jefferies downgrades to hold from buy. PT down 4.6% to $25. +Apple: Bernstein adjusts PT to $125 from $170, Maintains Market Perform rating. +Ashmore: Barclays moves from Overweight to Equal weight with a GBp 280 target. +AT&T: Wells Fargo upgrades to overweight from equal-weight. PT up 16% to $22. +Boeing: Morgan Stanley downgrades to equal-weight from overweight. PT up 5.5% to $220. +BT Group: Jefferies remains Buy with a price target reduced from GBp 250 to GBp 190. +Camden Property: Mizuho Securities upgrades to buy from neutral. PT up 11% to $125. +Centrica: Exane BNP Paribas resumes its Outperform rating, targeting GBp 150. +Clarkson: HSBC upgrades from buy to hold targeting GBp 3400. +Keysight: Barclays upgrades to overweight from equal-weight. PT up 14% to $202. +Nabors: Barclays upgrades to overweight from equal-weight. PT jumps 30% to $200. +NetApp: Barclays downgrades to equal-weight from overweight. PT up 11% to $71. +Next: Investec downgrades to hold from buy. PT set to 6,480 pence, implies a 0.4% increase from last price. +Nike: KGI Securities raised its recommendation on Nike Inc. Class B to outperform from neutral. PT up 8.9% to $136. +Oneok: J.P. Morgan upgrades to overweight from neutral. PT up 11% to $75. +PDC Energy: Mizuho Securities initiated coverage with a recommendation of buy. PT set to $97. +PPG Industries: RBC Capital Markets downgrades to sector perform from outperform. PT inches up 0.1% to $129. +Schwab: CICC initiated coverage with a recommendation of outperform. PT set to $110. +Superdry: RBC moves from Outperform to Sector Perform. + diff --git a/news/AMZN/2023.01.10/FTSE 100 pares loss before Powell takes stage.txt b/news/AMZN/2023.01.10/FTSE 100 pares loss before Powell takes stage.txt new file mode 100644 index 0000000000000000000000000000000000000000..4daa574b604618a1f471eb8a58751efedfb9bb5f --- /dev/null +++ b/news/AMZN/2023.01.10/FTSE 100 pares loss before Powell takes stage.txt @@ -0,0 +1 @@ +(Alliance News) - Stock prices in London fell short of producing a mid-morning turnaround but did go into Tuesday afternoon off session lows, though US interest rate worries still cast a dark cloud. Trading early this week has followed a pattern seen frequently in 2022, with optimism that central bank hawkishness has peaked being doused by tough talk from policymakers. Two Federal Reserve board members - Mary Daly and Raphael Bostic - on Monday said there is some way to go before the US central bank begins lowering rates. Daly said rates would likely go above 5% before the policy board decides to stop lifting. Bostic tipped a similar level and added that rates would then not be changed for "a long time".The FTSE 100 index was down 14.14 points, or 0.2%, at 7,710.80 midday Tuesday. It had been down 0.5% earlier in the morning.The FTSE 250 was down 53.44 points, or 0.3%, at 19,425.95, and the AIM All-Share was 1.23 points, or 0.1%, lower at 848.81.The Cboe UK 100 was down 0.2% at 771.30, and the Cboe UK 250 was down 0.4% at 16,953.20. The Cboe Small Companies was down 0.2% at 13,726.84.In European equities on Tuesday, the CAC 40 in Paris was 0.7% lower, while the DAX 40 in Frankfurt lost 0.4%."So far this year, there has been increasing hope of a softish landing for the US economy – that hope could be punctured if the Fed retains a hard line on rates. With that in mind, all eyes will be on Fed Chair Jerome Powell when he addresses a conference on central bank independence in Stockholm later," AJ Bell analyst Russ Mould commented. "Inflation figures out on Thursday also represent a test for the relative optimism of the markets so far this year."Despite Monday's hardline remarks from Daly and Bostic, traders are still largely pricing in a smaller 25 basis point rate hike by the Federal Reserve next month, according to the CME FedWatch Tool. That notion will be tested, however, if the US annual inflation rate comes in above the expected 6.5% on Thursday. At its December meeting, the Federal Open Market Committee lifted the target range for the federal funds rate by 50 basis points to 4.25% to 4.50% - the highest since 2007 - from a previous range of 3.75% to 4.00%. Powell speaks in Stockholm at 1400 GMT. The pound was quoted at USD1.2162 midday Tuesday in London, down from USD1.2203 late Monday. The euro stood at USD1.0737, down from USD1.0749. Against the yen, the dollar was trading at JPY132.14, higher from JPY131.88.In an otherwise underwhelming morning for London-listed blue-chips, insurer Admiral was a notable gainer. Shares rose 2.7% after Deutsche Bank lifted the stock to 'buy' from 'hold'. At the other end of the FTSE 100, retailer Next lost 2.3%. Investec cut it to 'hold' from 'buy'. Miners also struggled, with Anglo American among the worst, losing 2.5%. Shares in the sector have been largely on the up this year, due to optimism about revived demand from China. The nation is normally a big buyer of minerals, but repeated lockdowns have crimped this. Elsewhere in London, Card Factory rose 5.1%. The greeting cards, wrapping and gift card seller said it is trading ahead of expectations.In the 11 months to December 31, Card Factory says sales surged 28% to GBP432.6 million from GBP337.3 million in the same period a year earlier. Card Factory now expects annual earnings before interest, tax, depreciation and amortisation of at least GBP106 million, ahead of consensus of GBP96.9 million. The retailer has noticed a post-Covid shift back to the high street by UK shoppers, partly due to strikes at the Royal Mail discouraging online buying. Robert Walters fell 3.3%. The recruiter reported an improved fourth quarter, though its performance in China weakened. Group gross profit grew 11% to GBP105.3 million in the final quarter of 2022 from GBP95.1 million a year earlier. However, net fee income from Mainland China fell by 24% due to Covid restrictions that were only recently lifted.Fellow recruiters Hays and SThree lost 5.0% and 4.4%. Hostmore slumped 17%. The Edinburgh-based owner of the Fridays restaurant chain said like-for-like revenue in the 26 weeks to the start of January was 14% below three years earlier. "This result was achieved despite the impact of Her Majesty the Queen's passing, national rail strikes, the Football World Cup, and the unusually cold weather during the period," Hostmore explained. The company said Robert Cook has stepped down as chief executive with immediate effect. Julie McEwan was named interim CEO. She is currently chief operating officer of Fridays. She has held management roles with Premier Inn and was formerly brand director of Las Iguanas, a Latin American-themed dining chain. Analysts at finnCap commented: "Today's trading update and news of CEO Robert Cook's departure makes for sober reading"In New York on Tuesday, the Dow Jones Industrial Average was called to open 0.3% lower, the S&P 500 0.2% lower and the Nasdaq Composite 0.1% lower. Amazon shares were 0.2% higher in pre-market activity. It has revealed plans to shut three UK warehouses in a move which will impact 1,200 jobs.The company has launched consultations over the closure of sites in Hemel Hempstead, Doncaster and Gourock, in the west of Scotland.All workers at the sites will be offered roles at other Amazon locations.The Seattle, Washington-based online technology company has also revealed plans for two new major fulfilment centres in Peddimore, West Midlands, and Stockton-on-Tees, County Durham, which will create 2,500 jobs over the next three years.Plunging in the New York pre-market was Virgin Orbit, down 23%. An attempt to make British space history by launching a rocket into orbit from UK soil has ended in failure after suffering an "anomaly" during the flight. After taking off from Cornwall, the Virgin Orbit plane flew to 35,000 feet over the Atlantic Ocean where it jettisoned the rocket containing nine small satellites towards space.Organisers of the Start Me Up mission said the rocket – with a variety of civil and defence applications – failed to orbit. In a series of tweets, Virgin Orbit said: "We appear to have an anomaly that has prevented us from reaching orbit. We are evaluating the information."Early on Tuesday morning, Virgin Orbit issued a statement which said: "Out of five LauncherOne missions carrying payloads for private companies and governmental agencies, this is the first to fall short of delivering its payloads to their precise target orbit.""While we are very proud of the many things that we have successfully achieved as part of this mission, we are mindful that we failed to provide our customers with the launch service they deserve," Chief Executive Dan Hart added.Brent oil was quoted at USD79.88 a barrel midday Tuesday in London, down from USD80.46 on Monday. Gold fetched at USD1,875.01 an ounce, up slightly from USD1,874.24. By Eric Cunha, Alliance News news editorComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AMZN/2023.01.10/Global markets live: Microsoft, Apple, Pfizer, Shell, Ford....txt b/news/AMZN/2023.01.10/Global markets live: Microsoft, Apple, Pfizer, Shell, Ford....txt new file mode 100644 index 0000000000000000000000000000000000000000..d1f8ab3ffaa3ae98e23e832a5458e3e7b3bb67dc --- /dev/null +++ b/news/AMZN/2023.01.10/Global markets live: Microsoft, Apple, Pfizer, Shell, Ford....txt @@ -0,0 +1,30 @@ + +  +  +  + +Microsoft is reportedly in discussions to invest $10 billion in OpenAI, according to Semafor. +Apple would replace Broadcom chips and Qualcomm parts with its own components. +Pfizer CEO confirms a partner is preparing to manufacture the COVID-19 pill in China, but denies talks about a generic copy. +Danaher expects better-than-expected revenue growth for the fourth quarter. +Manchester United, Tottenham and Liverpool are reportedly takeover targets for the Qatar fund, according to Bloomberg News. +Holcim is acquiring Italy's Nicem. +Johnson & Johnson is eyeing acquisitions in eye care, surgical robots, orthopedics and cardiovascular products. +Shell is considering reducing its investments in the U.K. after the windfall tax increase. +The U.S. Supreme Court rejects Bristol-Myers Squibb's renewed bid in its patent dispute with Gilead Sciences. +General Electric HealthCare is to acquire Imactis for an undisclosed sum. +Nagarro adjusts its forecast. +Brunello Cucinelli targets €1 billion in revenue this year. +Enel places €1.75 billion in bonds. +Ford to collaborate with LG Energy Solution to build a battery plant in Turkey, dropping SK on the deal. +GSK wins U.S. appeals court victory in Zofran case. +Roche and Sonnet BioTherapeutics partner to evaluate an ovarian cancer combo in a Phase 1b/2a study. +Amazon plans to close three warehouses in the U.K., which could affect 1,200 jobs, PA Media reported. +Virgin Orbit’s satellite launch into space from the U.K. failed. The group owned by British billionaire Richard Branson announced that an anomaly had prevented the Cosmic Girl rocket, carried by a modified Boeing 747, from reaching orbit. +CVS Health is considering an acquisition of health-care center operator Oak Street Health Bloomberg reported Monday. +The Carlyle Group has acquired a majority stake in Indian beauty and wellness products group VLCC for about $300 million, two sources told Reuters on Tuesday. +Jefferies Financial Group reported a 52.5 percent drop in fourth-quarter profit on Monday amid lower fees and market volatility that weighed on trading revenue. +Coinbase Global gained 4.8% in premarket trading after the company announced a plan to cut nearly 1,000 jobs by the second quarter. +Illumina lowered its revenue growth forecast for this year to a range of 7%-10% from 10%. +Agilent Technologies announced an additional $2 billion share buyback program beginning March 1. + diff --git "a/news/AMZN/2023.01.10/New book \"Never Again Still Means Never Again\" by Michael Gutter is released, a collect...txt" "b/news/AMZN/2023.01.10/New book \"Never Again Still Means Never Again\" by Michael Gutter is released, a collect...txt" new file mode 100644 index 0000000000000000000000000000000000000000..5a8ba6ca9c79381bc37113cd74a163b7a491e014 --- /dev/null +++ "b/news/AMZN/2023.01.10/New book \"Never Again Still Means Never Again\" by Michael Gutter is released, a collect...txt" @@ -0,0 +1 @@ +"Never Again Still Means Never Again: Dismantling hate groups and other musings" by Amazon Bestselling Author Michael Gutter has been released worldwide. This 284-page work takes a fiery, compelling look at the history of antisemitism, from Hitler's rise to power to the ways bigoted viewpoints persist today.An expansion and revision of Gutter's first book, "Never Again Means Never Again," this educational work doesn't shy away from sensitive topics, digging into the past and present to expose the myths, coercion, and propaganda that have led to cruelty and closed-mindedness.The writing style is straightforward, even edgy at times, but serves to help readers understand how serious - and deeply personal - these issues are to so many people around the world. Regardless of background, readers of all kinds can gain valuable insights and perspective-shifting wisdom, and take this information with them into their daily interactions.While centered primarily on the Jewish experience and the plague of antisemitism, Gutter goes beyond this specific area to examine the larger causes (and impact) of homophobia, racism, xenophobia, and hateful thinking in general. In timely, poignant, and easily digestible quips, the author shows the folly of such thinking, and shows how these messages of intolerance can spread through societies if left unchecked. These ideas are essential for building a civil, understanding, and loving society. When we understand how hate spreads, we are better equipped to fight back against it.Never Again Still Means Never Again (ISBN: 9781959446071) can be purchased through retailers worldwide, including Barnes and Noble and Amazon. The paperback retails for $14.99 and the ebook retails for $4.99. Review copies and interviews are available upon request.Learn more at neveragainmeans.comFrom the back cover:The harsh tone and writing in my first book, Never Again MEANS Never Again, is based on anger and frustration due to blatant lies that I grew tired of constantly debunking. It's a "no holds barred" response and long overdue. I wrote this newest version without the "R" rated language, dark humor, and innuendo. It contains the same content and subject matter as the first book, but in a way that anyone of any age can read and understand. Frankly, it should be required reading worldwide, in my humble opinion.This book provides antisemites, homophobes, racists, and other minority haters an opportunity to compare the facts from this book to the lies they've been told, believe, and perpetuate.It's written for every Jew worldwide to help understand the parts of our history, our present, and our future. It provides facts and opinions on topics such as Hitler, Treaty of Versailles, Manhattan Project, Israeli-Palestinian conflict, Nazis, Nobel Prize, Hollywood and much, much more. Right now, our path looks bleak, but fixable. If you want to help, read the book and remember... Never Again Still MEANS Never Again.About the author:I have probably watched every episode of "First Time Watching Schindler's List" on YouTube. I got hooked on the viewers' changing emotions throughout the movie and still get extremely mad, disgusted, horrified, etc., by the end of each showing. That's how I wrote "Never Again MEANS Never Again." Angry, angry, angry.However, I also watch the credits of each viewing in anticipation of the movie watcher's reaction as they see the real, live, living Jews from "Schindler's List." These survivors smile and confirm to each new viewer that we are a tough, smart, and proud people. I'm not sure I want to know someone who doesn't shed a tear at those ending scenes.That's how I wrote "Never Again STILL MEANS Never Again" - an edgy, straight forward, honest book that should be required reading by most. In this version, I refrain from the dark humor, foul language and hardcore insults in the first book. Otherwise, all of the topics, subjects, storylines, facts, etc., etc. etc. haven't been changed.I had to write the first book exactly how I would discuss it with someone who wants to injure my family, my friends and those who can't defend themselves. Furthermore, I watched, read and listened to so much murder, torture, rape, medical experimentation, starvation and on and on. I was constantly writing in anger. Outside of a couple of chapters, I was perpetually pissed.Anyway, from that book came the second one and diplomatic way in which I normally speak to others.I stand by everything written in both books, but "Never Again STILL MEANS Never Again" is the book that anyone from anywhere can read, and I hope they do.Media ContactCompany Name: MindStir Media LLCContact Person: Jen McNabneyEmail: press@mindstirmedia.comPhone: 800-767-0531Address:1 New Hampshire Ave Suite 125City: PortsmouthState: NHCountry: United StatesWebsite: https://mindstirmedia.com/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git "a/news/AMZN/2023.01.10/New memoir \"Beatniks, Tupperware, and Chiles en Nogada\" by Robert de Paola is released,...txt" "b/news/AMZN/2023.01.10/New memoir \"Beatniks, Tupperware, and Chiles en Nogada\" by Robert de Paola is released,...txt" new file mode 100644 index 0000000000000000000000000000000000000000..86130bb271841e89ac03823f32848a245ceb51cf --- /dev/null +++ "b/news/AMZN/2023.01.10/New memoir \"Beatniks, Tupperware, and Chiles en Nogada\" by Robert de Paola is released,...txt" @@ -0,0 +1 @@ +"Beatniks, Tupperware, and Chiles en Nogada" by Robert de Paola has been released worldwide. This 336-page memoir, which has achieved bestseller status in Amazon's Hispanic & Latino and Immigration categories, is a broad, autobiographical work that is part travelogue, part character study, and throughout, a vibrant celebration of the human experience.Following the author's early life moving from place to place and surrogate parent to surrogate parent (including a commune of Beatniks), through collegiate and graduate experiences in New York, California, and Pennsylvania, into an adult life of academia, entrepreneurship, and adventure, a return to Mexico, and ultimately, parenthood, Robert's journey is filled with interesting characters and hard-won life lessons.After discovering he had a younger sister in his late 60s, Robert was inspired to tell his life story and share the insights gained from an unconventional upbringing. Throughout the novel-like narrative, letters written to Alessia (the author's sister) serve as summaries of different periods of his life. The surrounding chapters are rich with dialogue that bring the myriad characters to life, and throughout the book, readers learn valuable lessons alongside the author as the story of his life progresses. Through his story, de Paola reminds us to seek the richness of life each and every day, to learn from cultures different than our own, to immerse ourselves in music and art, to never stop learning, and to take charge of our own journey. This book sees the goodness in people, embraces differences, and emphasizes the importance of relationships with family and friends. As readers accompany Robert from his youth to adulthood, they'll see the value of moments small and large, and be inspired to reflect on their own lives to find the good things that make life worth living.Beatniks, Tupperware, and Chiles en Nogada (ISBN: 9798986295367) can be purchased through retailers worldwide, including Barnes and Noble and Amazon. The paperback retails for $18.99. Wholesale orders are available through Ingram. Review copies and interviews are available upon request.From the back cover:"Beatniks, Tupperware and Chiles en Nogada is that rare memoir that reads like fiction." ? JJ Hebert, bestselling author and founder of MindStir Media.Wrenched at the age of five from his Mexican family in Baja California, Robert lives with his unconventional birth mother who works as a traveling Tupperware salesman in 1950s Southern California. Their many adventures include living with a World War II veteran suffering from PTSD, reciting poetry to the rhythm of bongo drums in a Beatnik Commune, and extended periods of homelessness.Robert, a former professor at an Ivy League college and founder of a successful nationwide software company, emerges as a scholar searching for a feeling of belonging and a family. His journey takes him to both coasts of the US, to Europe, and finally, to a remote, mountainous region in Mexico. There, he rediscovers love where he least expects it, and finds a place to call home.Beatniks, Tupperware and Chiles en Nogada is written with humor, heart, and an understanding of how complex humanity can be. It is a celebration of the human spirit that will captivate the reader with unforgettable characters and exotic locales.About the author:Robert earned his doctorate from University of Pennsylvania where he became an Asst. Professor in the School of Medicine. He later founded PyraMed Health Systems, a nationwide software company. He presently lives in Florida with his wife, Rosa, and his daughters, Regina Sophia and Danna Melissa.About MindStir Media:MindStir Media LLC is an award-winning book publisher. To learn more about publishing a book with MindStir Media, visit http://mindstirmedia.com or call 800-767-0531.Media ContactCompany Name: MindStir Media LLCContact Person: Jen McNabneyEmail: press@mindstirmedia.comPhone: 800-767-0531Address:1 New Hampshire Ave Suite 125City: PortsmouthState: NHCountry: United StatesWebsite: https://mindstirmedia.com/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git "a/news/AMZN/2023.01.10/UK parliament considers recalling Amazon exec after lawmaker \"unhappy\" with testimony.txt" "b/news/AMZN/2023.01.10/UK parliament considers recalling Amazon exec after lawmaker \"unhappy\" with testimony.txt" new file mode 100644 index 0000000000000000000000000000000000000000..f0b862d6d6d1ef84eae5e298a8f82aeba215cfe7 --- /dev/null +++ "b/news/AMZN/2023.01.10/UK parliament considers recalling Amazon exec after lawmaker \"unhappy\" with testimony.txt" @@ -0,0 +1 @@ +At issue is whether Amazon uses tracking technology in its warehouses in Britain primarily to monitor productivity - an accusation Amazon has repeatedly denied - or to promote worker safety, as the company says. An Amazon spokesperson strongly denied the executive - European policy chief Brian Palmer - misled the committee.Palmer testified before parliament's Business, Energy, and Industrial Strategy (BEIS) Select Committee on Nov. 15 as part of a wide-reaching panel on technology in the workplace.In response to a question about workplace surveillance from the chairman of the committee, Palmer said its was used mostly to monitor goods rather than people: "They are not primarily or even secondarily to identify under-performers. Performance-related feedback is really focused on safety." Palmer also told MPs that Amazon continues to "perform better than industry" on employee safety, and he said warehouse workers could easily access their performance targets through "online tools that are made available to every single employee". In a Dec. 2 letter seen by Reuters, Foxglove, a London-based worker advocacy group, wrote to the committee disputing Palmer's statements on the use of tracking tools, Amazon's track record on safety and the transparency of workers' performance targets. It cited legal filings related to U.S. court cases and testimony from workers at five warehouses in the UK. Committee member Andy McDonald, MP for Middlesborough for the opposition Labour party, said he had raised concerns about Palmer's testimony in writing with the group's chair, Labour MP Darren Jones, after viewing Foxglove's letter. "We were extremely unhappy with his testimony," McDonald told Reuters. "If somebody comes before the Committee and misleads us, they are duty-bound to correct the record."A spokesperson for the 11-member committee - in response to Reuters' questions to Jones - said it was due to discuss Foxglove's allegations on Tuesday and would consider recalling Palmer before parliament. Other members of the committee did not respond to requests for comment.Reuters has no independent evidence that Palmer misled the committee. Palmer declined to comment. An Amazon spokesperson said that Amazon used CCTV cameras "to ensure the safety of employees and security of products". Amazon has a system to recognize strong performance by employees and to encourage coaching for those who are not meeting their goals, the spokesperson said."To suggest that the use of these standard business practices amount to surveillance of employees is wrong," the Amazon spokesperson added. Labour's Shadow Minister for Employment Rights and Protections, Justin Madders MP, told Reuters his party would introduce legislation "to protect workers from surveillance" should it win the next general election in Britain. The incident comes at a time when Amazon is facing accusations by the U.S. Department of Labor that it failed to properly record work-related injuries and illnesses at six warehouses in five states.In addition to vigorously defending Palmer's testimony and denying surveillance activities, Amazon highlighted to Reuters a recent company report stating its UK workers suffered "over 50% fewer injuries on average than other transportation and warehousing businesses". (Reporting by Martin Coulter; Editing by Daniel Flynn)By Martin Coulter \ No newline at end of file diff --git a/news/AMZN/2023.01.10/Wall St climbs; Powell comments avoid rate policy.txt b/news/AMZN/2023.01.10/Wall St climbs; Powell comments avoid rate policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..3c0a4566d8d260f6ba1fb02d34c5de26685da83e --- /dev/null +++ b/news/AMZN/2023.01.10/Wall St climbs; Powell comments avoid rate policy.txt @@ -0,0 +1,35 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Investors await CPI data Thursday*Indexes up: Dow 0.4%, S&P 500 0.5%, Nasdaq 0.8%NEW YORK, Jan 10 (Reuters) - U.S. stocks edged higher in +afternoon trading Tuesday, led by big growth shares, on relief +that Federal Reserve Chair Jerome Powell refrained in a speech +from commenting on rate policy.In his first public appearance of the year,Powell said at a forum sponsored by the Swedish central bank +that the Fed's independence is essential for it to battle +inflation.Recent comments by other Fed officials have supported the +view that the central bank needs to remain aggressive in raising +interest rates to control inflation. Fed Governor Michelle +Bowman said on Tuesday the bank will have to raise interest +rates further to combat high inflation.Investors anxiously awaited the U.S. consumer prices index +report Thursday, which is expected to show some moderation in +year-on-year prices in December."There are some indications that inflation is slowing +significantly. What investors are really looking for is a gap +down in major inflation data that could probably get the Fed's +attention," said Tim Ghriskey, senior portfolio strategist at +Ingalls & Snyder in New York.Traders are betting on a 25-basis point rate hike at the +Fed's upcoming policy meeting in February.Communications services and consumer discretionary +were among the day's best performers among sectors.The Dow Jones Industrial Average rose 119.1 points, +or 0.36%, to 33,636.75, the S&P 500 gained 20.54 points, +or 0.53%, to 3,912.63 and the Nasdaq Composite added +82.96 points, or 0.78%, to 10,718.61.Amazon.com Inc and Microsoft Corp gave the +S&P 500 its biggest boost.Some investors are hoping for signs that the Fed may soon +take a break after raising the federal funds rate seven times in +2022.The World Bank on Tuesday slashed its 2023 growth forecasts +on Tuesday to levels teetering on the brink of recession for +many countries as the impact of central bank rate hikes +intensifies.Broadcom Inc shares fell, a day after a report that +Apple Inc plans to replace a Broadcom chip from its +devices with an in-house design in 2025.Advancing issues outnumbered decliners on the NYSE by a +2.06-to-1 ratio; on Nasdaq, a 2.31-to-1 ratio favored advancers.The S&P 500 posted two new 52-week highs and no new lows; +the Nasdaq Composite recorded 54 new highs and 25 new lows. +(Additional reporting by Ankika Biswas, Amruta Khandekar and +Johann M Cherian in Bengaluru; Editing by Shinjini Ganguli, +Shounak Dasgupta and Richard Chang) \ No newline at end of file diff --git a/news/AMZN/2023.01.10/Wall St ends higher, Powell comments avoid rate policy.txt b/news/AMZN/2023.01.10/Wall St ends higher, Powell comments avoid rate policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..d9bacf4dcaa5f895aa5529614c7dffd82969d45a --- /dev/null +++ b/news/AMZN/2023.01.10/Wall St ends higher, Powell comments avoid rate policy.txt @@ -0,0 +1,50 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Investors await CPI data Thursday*U.S. earnings season begins this week*Jefferies shares rise after results*Indexes: Dow up 0.6%, S&P 500 up 0.7%, Nasdaq up 1%NEW YORK, Jan 10 (Reuters) - U.S. stocks ended solidly +higher on Tuesday, led by a 1% gain in the Nasdaq, on relief +that Federal Reserve Chair Jerome Powell refrained in a speech +from commenting on rate policy.In his first public appearance of the year, Powell said +at a forum sponsored by the Swedish central bank that the Fed's +independence is essential for it to battle inflation.Recent comments by other Fed officials have supported the +view that the central bank needs to remain aggressive in raising +interest rates to control inflation. Fed Governor Michelle +Bowman said on Tuesday the bank will have to raise interest +rates further to combat high inflation."Everybody hangs on every word from the Fed," said Tim +Ghriskey, senior portfolio strategist at Ingalls & Snyder in New +York. Powell "didn't really say anything" about policy, he +added.Investors anxiously awaited the U.S. consumer prices index +report Thursday, which is expected to show some moderation in +year-on-year prices in December.Traders are betting on a 25-basis point rate hike at the +Fed's upcoming policy meeting in February."There are some indications that inflation is slowing +significantly. What investors are really looking for is a gap +down in major inflation data that could probably get the Fed's +attention," Ghriskey said.Amazon.com Inc. shares rose 2.9% and gave the +Nasdaq and S&P 500 their biggest boosts.The Dow Jones Industrial Average rose 186.45 +points, or 0.56%, to 33,704.1; the S&P 500 gained 27.16 +points, or 0.70%, at 3,919.25; and the Nasdaq Composite +added 106.98 points, or 1.01%, at 10,742.63.Shares of Microsoft Corp rose 0.8%, a day after +Semafor, citing people familiar with the matter, reported that +the tech company was in talks to invest $10 billion in +ChatGPT-owner OpenAI.Communications services was the day's +best-performing sector, while energy rose along with oil +prices.This week marks the start of the fourth-quarter earnings +season for S&P 500 companies, with results from several of Wall +Street's biggest banks due later this week.Shares of investment bank Jefferies Financial Group +rose 3.8% on Tuesday, a day after it posted its second-best year +for investment banking revenue. It also reported a 52.5% slump +in fourth-quarter profit.Analysts expect overall S&P 500 earnings to have declined +2.2% in the fourth quarter from a year ago, according to IBES +data from Refinitiv, as worries about rising rates and the +economy mounted.Some investors are hoping for signs that the Fed may soon +take a break after raising the federal funds rate seven times in +2022.The World Bank on Tuesday slashed its 2023 growth forecasts +on Tuesday to levels teetering on the brink of recession for +many countries as the impact of central bank rate hikes +intensifies.Volume on U.S. exchanges was 10.02 billion shares, +compared with the 10.91 billion average for the full session +over the last 20 trading days.Advancing issues outnumbered decliners on the NYSE by a +2.33-to-1 ratio; on Nasdaq, a 2.45-to-1 ratio favored advancers.The S&P 500 posted four new 52-week highs and no new +lows; the Nasdaq Composite recorded 71 new highs and 30 new +lows. +(Additional reporting by Ankika Biswas, Amruta Khandekar and +Johann M Cherian in Bengaluru; Editing by Shinjini Ganguli, +Shounak Dasgupta and Richard Chang) \ No newline at end of file diff --git a/news/AMZN/2023.01.10/Wall St ends higher; Powell comments avoid rate policy.txt b/news/AMZN/2023.01.10/Wall St ends higher; Powell comments avoid rate policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..335626839426a533aee389b6bc4754609a9b02b9 --- /dev/null +++ b/news/AMZN/2023.01.10/Wall St ends higher; Powell comments avoid rate policy.txt @@ -0,0 +1,39 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Investors await CPI data Thursday*U.S. earnings season begins this week*Jefferies shares rise after resultsNEW YORK, Jan 10 (Reuters) - U.S. stocks ended higher on +Tuesday on relief that Federal Reserve Chair Jerome Powell +refrained in a speech from commenting on rate policy.In his first public appearance of the year,Powell said at a forum sponsored by the Swedish central bank +that the Fed's independence is essential for it to battle +inflation.Recent comments by other Fed officials have supported the +view that the central bank needs to remain aggressive in raising +interest rates to control inflation. Fed Governor Michelle +Bowman said on Tuesday the bank will have to raise interest +rates further to combat high inflation."Everybody hangs on every word from the Fed," said Tim +Ghriskey, senior portfolio strategist at Ingalls & Snyder in New +York. Powell "didn't really say anything" about policy, he +added.Investors anxiously awaited the U.S. consumer prices index +report Thursday, which is expected to show some moderation in +year-on-year prices in December.Traders are betting on a 25-basis point rate hike at the +Fed's upcoming policy meeting in February."There are some indications that inflation is slowing +significantly. What investors are really looking for is a gap +down in major inflation data that could probably get the Fed's +attention," Ghriskey said.Communications services was among the day's +best-performing sectors, while energy rose along with +oil prices.Unoffically, the Dow Jones Industrial Average +rose 187.9 points, or 0.56%, to 33,705.55, the S&P 500 +gained 27.32 points, or 0.70%, to 3,919.41 and the Nasdaq +Composite added 106.98 points, or 1.01%, to 10,742.63.This week marks the start of the fourth-quarter earnings +season for S&P 500 companies, with results from several of Wall +Street's biggest banks due later this week.Shares of investment bank Jefferies Financial Group +rose on Tuesday, a day after itpostedits second-best year for investment banking revenue. It +also reported a 52.5% slump in fourth-quarter profit.Analysts expect overall S&P 500 earnings to have +declined 2.2% in the fourth quarter from a year ago as worries +about rising rates and the economy mount, according to IBES data +from Refinitiv.Some investors are hoping for signs that the Fed may soon +take a break after raising the federal funds rate seven times in +2022.The World Bank on Tuesday slashed its 2023 growth forecasts +on Tuesday to levels teetering on the brink of recession for +many countries as the impact of central bank rate hikes +intensifies. +(Additional reporting by Ankika Biswas, Amruta Khandekar and +Johann M Cherian in Bengaluru; Editing by Shinjini Ganguli, +Shounak Dasgupta and Richard Chang) \ No newline at end of file diff --git a/news/AMZN/2023.01.10/Wall St rises as Fed's Powell steers clear of monetary policy outlook.txt b/news/AMZN/2023.01.10/Wall St rises as Fed's Powell steers clear of monetary policy outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a237688590975620c26af4f8ea4346f7d0d6c64 --- /dev/null +++ b/news/AMZN/2023.01.10/Wall St rises as Fed's Powell steers clear of monetary policy outlook.txt @@ -0,0 +1,41 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Broadcom falls on report of Apple's plan to replace chip*Indexes up: Dow 0.08%, S&P 0.07%, Nasdaq 0.16%Jan 10 (Reuters) - Wall Street's main indexes rose on +Tuesday as Federal Reserve Chair Jerome Powell steered clear of +commenting on the monetary policy outlook, with focus turning to +an upcoming inflation reading scheduled for later this week.Powell's remarks, which offered no clues on the Fed's plans +for future tightening, came as a major relief after two other +policymakers on Monday injected a note of caution over the +interest rate outlook."He (Powell) hasn't disrupted the market in any way and the +fact that he stresses the need for political independence while +tackling inflation, that's a definite positive for the markets," +said Peter Cardillo, chief market economist at Spartan Capital +Securities, New York.Traders held on to bets of a 25-basis point rate hike at the +U.S. central bank's upcoming policy meeting in February, with +the terminal rate seen slightly below 5% by June.Markets have been hoping that the Fed could soon signal an +end to its rate hiking cycle following recent signs of a +slowdown in the U.S. economy, even as policymakers reiterate the +central bank's priority to bring inflation under control."The Fed has a little bit more tightening to do," said David +Russell, vice president of market intelligence at TradeStation +Group, adding that Thursday's inflation report will be crucial +in shaping interest rate expectations.The much-awaited consumer prices index (CPI) report from the +U.S. Labor Department is expected to show some moderation in +year-on-year prices in December.The Fed's aggressive monetary policy tightening to curb +decades-high inflation hammered U.S. equities in 2022, with the +three main indexes logging their steepest annual declines since +2008.Fed Governor Michelle Bowman said on Tuesday the U.S. +central bank will have to raise interest rates further to combat +high inflation.Among major S&P 500 sectors, retailers were up 0.8% +and in the lead, while consumer discretionary stocks +rose 0.2%, with Amazon.com Inc driving gains in both +the subindexes.Healthcare stocks rose 0.5% and were also a major +boost to the benchmark S&P 500 index.At 11:59 a.m. ET, the Dow Jones Industrial Average +was up 28.41 points, or 0.08%, at 33,546.06, the S&P 500 +was up 2.71 points, or 0.07%, at 3,894.80, and the Nasdaq +Composite was up 17.25 points, or 0.16%, at 10,652.90.Broadcom Inc fell 3.4% on a report that Apple Inc +plans to replace a Broadcom chip from its devices with +an in-house design in 2025.Advancing issues outnumbered decliners for a 1.17-to-1 ratio +on the NYSE and a 1.62-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week high and no new low, +while the Nasdaq recorded 37 new highs and 20 new lows. +(Reporting by Ankika Biswas, Amruta Khandekar and Johann M +Cherian in Bengaluru; Editing by Shinjini Ganguli and Shounak +Dasgupta) \ No newline at end of file diff --git a/news/AMZN/2023.01.11/Amazon UK site closures to put 1,200 jobs at risk.txt b/news/AMZN/2023.01.11/Amazon UK site closures to put 1,200 jobs at risk.txt new file mode 100644 index 0000000000000000000000000000000000000000..155c9109bad92d5a392bc79668b8e528fd27d0fd --- /dev/null +++ b/news/AMZN/2023.01.11/Amazon UK site closures to put 1,200 jobs at risk.txt @@ -0,0 +1 @@ +AMAZON yesterday revealed plans to shut three UK warehouses in a move which will impact 1,200 jobs.The company has launched consultations over the closure of sites in Hemel Hempstead, Doncaster and Gourock, in the west of Scotland.All 1,200 workers at these sites will be offered roles at other Amazon locations, the firm said.The online technology giant has also revealed plans for two new major fulfilment centres in Peddimore and Stockton-on-Tees, which will create 2,500 jobs over the next three years.Around 500 employees currently work at Amazon's Hemel Hempstead site, and will all be offered roles at its nearby Dunstable warehouse or other nearby locations.The consultations will involve around 400 staff at its Doncaster site in Balby Carr Bank, who the company plans to transfer to its two other fulfilment centres at Doncaster's iPort.The proposals will also affect around 300 workers based at the Gourock site.Furthermore, Amazon said last night that it was closing seven of its delivery stations across the UK.Five stations in Huntingdon, Horley, Birmingham, Newcastle and Hemel Hempstead will close, with staff given the opportunity to transfer to stations in the local area.Also stations in Portsmouth and Aylesford will shut, with Amazon planning to open new delivery stations in Havant and Aylesford that staff can move to. Each of these sites employ a few dozen workers at most.It is understood these proposals are separate from Amazon's plan to cut around 18,000 jobs worldwide as part of a drive to cut costs.A spokesman for the company said: "All employees affected by site closure consultations will be offered the opportunity to transfer to other facilities, and we remain committed to our customers, employees, and communities across the UK."Steve Garelick, GMB union organiser, describes the plans as a "kick in the teeth" for Amazon workers.PA(c) 2023 City A.M., source Newspaper \ No newline at end of file diff --git a/news/AMZN/2023.01.11/Amazon workers' union victory upheld by U.S. labor board director.txt b/news/AMZN/2023.01.11/Amazon workers' union victory upheld by U.S. labor board director.txt new file mode 100644 index 0000000000000000000000000000000000000000..5f43407e6ac0b46dd7194bd71304fe66f862824d --- /dev/null +++ b/news/AMZN/2023.01.11/Amazon workers' union victory upheld by U.S. labor board director.txt @@ -0,0 +1 @@ +Amazon has the right to appeal the decision to a wider panel at the U.S. National Labor Relations Board (NRLB) or can start negotiating with the workers at its JFK8 facility in the New York City borough of Staten Island. The company did not immediately respond to a request for comment.The victory marked the first time U.S. staff at Amazon had decided to unionize in the company's nearly three-decade history, as well as a watershed moment for organized labor, which has taken issue with productivity tracking among other practices at the country's second-largest private employer.The news comes at a time when Amazon has moved to lay off more than 18,000 corporate staff in light of economic uncertainty as well as propose closing three warehouses in the United Kingdom while opening others in the country.The Amazon Labor Union (ALU) celebrated the labor board director's decision."This is a HUGE moment for the labor moment!" the group wrote on Twitter. "Let's continue to fight for what we deserve!"Some 55% of employees who voted during the election last March had opted in favor of joining the union, which argued for higher pay and job security. Turnout was about 58% of about 8,000 eligible voters.Amazon has since slowed the ALU's progress. Workers in different facilities in New York state have rejected joining the union in two elections since, and Amazon filed objections to conduct during the original contest.The NLRB regional director overruled those objections on Wednesday, in line with an NLRB hearing officer's recommendations last year. (Reporting By Jeffrey Dastin; Editing by Himani Sarkar)By Jeffrey Dastin \ No newline at end of file diff --git a/news/AMZN/2023.01.11/Biden's climate agenda has a problem: Not enough wo...txt b/news/AMZN/2023.01.11/Biden's climate agenda has a problem: Not enough wo...txt new file mode 100644 index 0000000000000000000000000000000000000000..f226554bf3f7ac7ef646eb51f559e6017bd02223 --- /dev/null +++ b/news/AMZN/2023.01.11/Biden's climate agenda has a problem: Not enough wo...txt @@ -0,0 +1 @@ +The Inflation Reduction Act, signed into law last year, provides for an estimated $370 billion in solar, wind and electric vehicle subsidies, according to the White House. Starting Jan. 1, American consumers can take advantage of those tax credits to upgrade home heating systems or put solar panels on their roofs. Those investments will create nearly 537,000 jobs a year for a decade, according to an analysis by BW Research commissioned by The Nature Conservancy.Graphic: The Inflation Reduction Act's green jobs promise https://www.reuters.com/graphics/USA-LABOR/CLEANENERGY/movakkxyyva/chart.pngBut with the U.S. unemployment rate at an historic low of 3.5%, companies say they fear they will struggle to fill those jobs, and that plans to transition away from fossil fuels could stall out. Despite layoff announcements and signs of a slowdown elsewhere in the economy, the labor market for clean energy jobs remains tight."It feels like a big risk for this expansion. Where are we going to find all the people?" said Abigail Ross Hopper, president of the Solar Energy Industries Association trade group.The shortage is anticipated to hit especially hard in electric vehicle and battery production and solar panel and home efficiency installations, forcing some of the companies into bold new approaches to find workers.Korea's SK Innovation Co Ltd, which makes batteries for Ford Motor Co's F-150 Lightning all-electric pickup truck in Commerce, Georgia, has pumped up pay and benefits as it ramps up its U.S. workforce to 20,000 people by 2025 from 4,000 today.The battery maker is advertising pay between $20 and $34 an hour, above Georgia's median hourly wage of $18.43, according to the U.S. Bureau of Labor Statistics. It is also covering 100% life insurance costs and matching retirement plan contributions up to 6.5%, above the national average of 5.6%, according to the Plan Sponsor Council of America. And the company is providing free food on the job."Georgia's talent pool is not really massive. But we are trying to improve some of our policies to better source and retain workers," said an SK official who declined to be named, citing the sensitivity of the matter.Georgia state officials said SK's hiring has been a success considering how quickly production had to ramp up to meet the company's obligations to automakers.While national residential solar installer SunPower Corp is recruiting aggressively, Chief Executive Peter Faricy said the company is also looking at what he called "crazy ideas" to secure labor - including buying up companies just for their workers."I'm not suggesting we will do this, but I want to give you an order of magnitude of what we're considering. Like, should we acquire a roofing company and make them all solar installers? Do we go buy an electrical company and acquire 100 electricians?" he said.SunPower also held talks within the last year with panel manufacturer First Solar Inc about developing a solar panel that would be easier to install, enabling crews to outfit two homes a day instead of just one, Faricy said.SunPower's competitor, Sunrun Inc, is deploying drones to survey roofs ahead of installation, reducing the number of workers required to scale roofs. It is also rewarding top crews with office parties."As best you can game-ify the experience for the employee... it just makes the industry more fun, more attractive," Chris McClellan, Sunrun's senior vice president of operations, said in an interview.Offshore wind developer Orsted, a Danish company that is planning to build projects off the East Coast, hopes to fly in employees from projects in the United Kingdom and Asia to help train staff. State reports have indicated that New York and Massachusetts face large offshore wind workforce gaps."We're creating sort of an ecosystem where we don't just have an offshore wind academy, but really train the trainers of the future," said Mads Nipper, Orsted's CEO, told Reuters.The Biden Administration has repeatedly promised that new green energy jobs would be well-paying union jobs.But many of those jobs have lagged the fossil fuel industry in pay, according to a 2021 study by BW Research, as clean energy companies have sought to contain costs to compete with entrenched industries. The IRA seeks to address that by tying prevailing wage and apprenticeship requirements to the subsidies.Those provisions -- and the hiring challenges -- have put pressure on some employers to use unionized labor.Learning from its earlier hiring challenges in Europe and Asia, Orsted signed an agreement with North America's Building Trades Unions to secure workers.Even Amazon.com Inc, a company that has been embroiled in disputes with workers trying to organize, has used union labor to build the electric charging infrastructure for its fleet of electric delivery vehicles in Maspeth, Queens, NY.Amazon did not respond to requests for comment.Corrine Case, an electrician represented by the International Brotherhood of Electrical Workers, said she was paid $43 an hour to install the charging system at Amazon.A single mother, Case said she was excited about the job security offered by the rising demand for electricians to install charging stations."Our field is constantly changing because of new energy sources and to be a part of that is amazing," she said. FREE WORKER TRAININGIn their hunt for workers, solar, wind and electric vehicle companies have expanded programs offering free and subsidized training to military veterans, women and the formerly incarcerated.SK told Reuters that it has been recruiting at military job fairs and American Legion chapters and collaborating with programs like the Georgia National Guard's Work for Warriors and the Manufacturing Institute's Heroes MAKE America.Some solar companies have tried to recruit veterans, saying the skills learned in military life translate well to the industry.Utility scale solar developer SOLV Energy, SunPower and Nextracker last year teamed up with nonprofit Solar Energy International to fund a women-only training program for solar installers. More than 30 women attended the week-long course in Colorado.In October, the nonprofit Solar Hands-On Instructional Network of Excellence (SHINE) teamed up with the Virginia Department of Corrections on a pilot program to train 30 prison inmates and recently incarcerated people in solar panel installation. SHINE's director David Peterson said the group is discussing expanding the program.In California, the nonprofit Grid Alternatives has trained 150 inmates at the Madera County jail in solar installation since 2017 and is expanding its program this year to other facilities in the state. Potential employers are more open to hiring the formerly incarcerated once they see they have received some training, Tom Esqueda, the nonprofit's outreach manager, said.In Los Angeles, nonprofit Homeboy Industries, which works to rehabilitate former gang members, is using the potential job opportunities for solar panel installers to help recruits for its state-funded jobs program. Homeboy trains 50-60 people a year as solar panel installers.More than 80% of the people who have gone through the training in the last year have found jobs in solar, according to Jackie Harper, who oversees the program."I'm going to be sticking with this," said Marco Reyes, 28, who went through the program after his release from prison in February and earns $23 an hour as an installer in Valencia, California.He now plans to train in the electrical end of solar installation, which would bump up his pay."Everyone has a chance to move up the ladder into a better position," he said. "This job to me is a life changer." (Reporting by Nichola Groom and Valerie Volcovici; Edited by Richard Valdmanis and Suzanne Goldenberg.)By Nichola Groom and Valerie Volcovici \ No newline at end of file diff --git a/news/AMZN/2023.01.11/Logistics startup Flexport cutting 20% of staff in restructuring.txt b/news/AMZN/2023.01.11/Logistics startup Flexport cutting 20% of staff in restructuring.txt new file mode 100644 index 0000000000000000000000000000000000000000..4e4bbe3cbe376d0f28425566b9649f0a3c116242 --- /dev/null +++ b/news/AMZN/2023.01.11/Logistics startup Flexport cutting 20% of staff in restructuring.txt @@ -0,0 +1 @@ +"Lower volumes, combined with improved efficiencies as a result of new organizational and operational structures, means we are overstaffed in a variety of roles across the company," Flexport said in a message to employees.The privately held company, which is one of the most valuable logistics startups after raising more than $2 billion in funding, declined to say the number of employees affected by the layoffs. Data aggregation firms say Flexport employs at least 3,000 people, which would result in at least 600 layoffs.Flexport is a fully-licensed freight forwarder, meaning it manages end-to-end sea, air, rail and road freight shipments. Its competitors include Kuehne + Nagel, DHL and United Parcel Service.Its move comes at a time when transportation and technology companies, as well as venture capital-backed startups, are either freezing hiring or laying off employees as global recession threatens. Flexport's leaving package for U.S. workers includes 12 weeks severance, six months extended healthcare and accelerated equity vesting, Flexport said.The company also said its plan to add about 400 engineers to double its technical team in 2023 remained intact. That move was spearheaded by Dave Clark who joined Flexport in September as co-chief executive after two decades at Amazon.com."The current slowdown in volume gives us time to focus on building our technology bench while the economy lags," Flexport said. (Reporting by Lisa Baertlein in Los Angeles; Editing by Marguerita Choy)By Lisa Baertlein \ No newline at end of file diff --git a/news/AMZN/2023.01.11/MarketScreener's World Press Review: January 11.txt b/news/AMZN/2023.01.11/MarketScreener's World Press Review: January 11.txt new file mode 100644 index 0000000000000000000000000000000000000000..abc0326657bc7546377748d4a654cce51784f80d --- /dev/null +++ b/news/AMZN/2023.01.11/MarketScreener's World Press Review: January 11.txt @@ -0,0 +1,9 @@ + +Direct Line, J Sainsbury, JD Sports Fashion, Amazon, BioNTech, Uniper, LVMH, Goldman Sachs, Coinbase, Tesla, Rivian, Walt Disney, Boeing & Airbus, Wells Fargo, FedEx, Bed Bath & Beyond, Fast Retailing feature in this press review! + + + + +  + +  diff --git a/news/AMZN/2023.01.11/Wall St ends sharply higher on optimism before key inflation report.txt b/news/AMZN/2023.01.11/Wall St ends sharply higher on optimism before key inflation report.txt new file mode 100644 index 0000000000000000000000000000000000000000..98acc7c327604cfb3788d02e732010e11cabeb15 --- /dev/null +++ b/news/AMZN/2023.01.11/Wall St ends sharply higher on optimism before key inflation report.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*CPI report due Thursday before the bell*Bed, Bath & Beyond extends recent gains*Indexes: Dow up 0.8%, S&P 500 up 1.3%, Nasdaq up 1.8%NEW YORK, Jan 11 (Reuters) - U.S. stocks ended up +sharply on Wednesday, with the S&P 500 and Nasdaq gaining more +than 1% each as investors were optimistic ahead of an inflation +report that could give the Federal Reserve room to dial back on +its aggressive interest rate hikes.The much-anticipated report due on Thursday is projected by +economists polled by Reuters to show U.S. consumer prices grew +6.5% year-on-year in December, moderating from a 7.1% rise in +November.Among sectors, real estate and consumer +discretionary were the day's strongest performers, +while Microsoft, Amazon.com and other mega-cap +growth names gave the S&P 500 its biggest boost.The benchmark index is up so far for 2023 after falling +sharply last year. Hopes that the Fed could soon ease back on +its aggressive tightening after raising the federal funds rate +seven times in 2022 have boosted the market in recent sessions, +even as comments by some Fed officials have supported the view +that the central bank needs to remain vigilant about raising +rates to fight inflation."Investors are anticipating that we're closer to a pause +than at any other point last year," said Jake Dollarhide, chief +executive officer of Longbow Asset Management in Tulsa, +Oklahoma. He said that would be welcomed by the market.Also, "any time you have a down year, it's not surprising +many times to have a reversal at the start of the new year," he +said.The Dow Jones Industrial Average rose 268.91 points, +or 0.8%, to 33,973.01, the S&P 500 gained 50.36 points, +or 1.28%, to 3,969.61 and the Nasdaq Composite added +189.04 points, or 1.76%, to 10,931.67.Money market participants see a 75% chance the Fed will +raise the benchmark rate by 25 basis points in February.This week also marks the start of the fourth-quarter +earnings season for S&P 500 companies, with overall S&P 500 +earnings expected to have declined year-over-year, according to +IBES data from Refinitiv.The biggest U.S. banks, which kick off the season later this +week, are expected to report lower quarterly earnings as risks +of a recession rise due to monetary policy tightening.Goldman Sachs began laying off staff on Wednesday +in a sweeping cost-cutting drive, a source familiar with the +matter said. Shares of Goldman Sachs ended up 2%.Retailer Bed Bath & Beyond Inc sharply extended +recent gains to end up 68.6% despite bleak quarterly results, +with some investors speculating it could be a potential +acquisition target.Volume on U.S. exchanges was 11.42 billion shares, compared +with the 11 billion average for the full session over the last +20 trading days.Advancing issues outnumbered declining ones on the NYSE +by a 3.78-to-1 ratio; on Nasdaq, a 2.25-to-1 ratio favored +advancers.The S&P 500 posted 11 new 52-week highs and 1 new low; +the Nasdaq Composite recorded 98 new highs and 20 new lows. +(Reporting by Caroline Valetkevitch; Additional reporting by +Shubham Batra and Amruta Khandekar in Bengaluru; Editing by +Shounak Dasgupta and Grant McCool) \ No newline at end of file diff --git a/news/AMZN/2023.01.11/Wall St gains with all eyes on key inflation data.txt b/news/AMZN/2023.01.11/Wall St gains with all eyes on key inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..16f6dec7110e9c2273964b2810270f896aae3a0f --- /dev/null +++ b/news/AMZN/2023.01.11/Wall St gains with all eyes on key inflation data.txt @@ -0,0 +1,46 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Airlines gain as U.S. flights slowly resume after FAA +outage*Bed Bath & Beyond extends gains*Indexes up: Dow 0.30%, S&P 0.62%, Nasdaq 0.99%Jan 11 (Reuters) - Wall Street's main indexes rose on +Wednesday with investors keenly awaiting a crucial inflation +reading due later in the week for more clarity on the Federal +Reserve's rate hike trajectory.Nearly all the major S&P 500 sectors rose, with real estate +up 2.4% and in the lead, while consumer discretionary +and technology stocks gained 1.9% and 0.6%, +respectively.Alphabet Inc, Amazon.com Inc and Tesla +Inc were up between 2.2% and 4.3%, among the top boosts +to the S&P 500 and the tech-heavy Nasdaq.Gains in the megacap growth firms, which had lost between +39% and 65% in value last year, come as markets face renewed +optimism in 2023 on hopes that slowing inflationary pressures +could pave the way for a less hawkish stance from the U.S. +central bank.The highly awaited inflation report from the Labor +Department on Thursday is expected to show U.S. consumer prices +likely grew 6.5% year-on-year in December, moderating from a +7.1% rise in November."The tech leaders last year got beat up really bad and +people are now wondering, did we over-do it," said Joe Saluzzi, +co-manager of trading at Themis Trading."But you're going to need earnings to support more bullish +theory. The bar is a little bit lower (for earnings), which +could be decent for the stock market."This week marks the start of the earnings season for S&P 500 +companies, with Wall Street's biggest banks expected to report +lower quarterly profits amid risks of a recession due to +monetary policy tightening.Markets are hoping that the Fed could soon pause its rate +hiking cycle, though recent comments by some policymakers have +supported the view that the Fed needs to remain aggressive in +raising interest rates to fight inflation.Money market participants see a 75% chance the Fed will +raise the benchmark rate by 25 basis points to 4.50%-4.75% in +February, and see rates peaking at 4.94% by June.At 11:58 a.m. ET, the Dow Jones Industrial Average +was up 101.44 points, or 0.30%, at 33,805.54, the S&P 500 +was up 24.13 points, or 0.62%, at 3,943.38, and the Nasdaq +Composite was up 106.63 points, or 0.99%, at 10,849.26.Home goods retailer Bed Bath & Beyond Inc jumped +45.9%, after logging gains in the previous session despite bleak +quarterly results as retail investors speculated it could be a +potential acquisition target and as short-sellers closed out +bets.Shares of airlines such as American Airlines Group Inc +and Spirit Airlines Inc reversed premarket +losses to rise between 0.9% and 1.9% as U.S. flights were slowly +beginning to resume departures and a ground stop was lifted +after the Federal Aviation Administration scrambled to fix a +system outage overnight.Advancing issues outnumbered decliners for a 3.15-to-1 ratio +on the NYSE and a 1.97-to-1 ratio on the Nasdaq.The S&P index recorded 10 new 52-week highs and one new low, +while the Nasdaq recorded 56 new highs and 12 new lows. +(Reporting by Shubham Batra and Amruta Khandekar in Bengaluru; +Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AMZN/2023.01.12/AMAZON COM INC : Receives a Buy rating from Bernstein.txt b/news/AMZN/2023.01.12/AMAZON COM INC : Receives a Buy rating from Bernstein.txt new file mode 100644 index 0000000000000000000000000000000000000000..e9d8b0d3713f390090b39aa2b691e46079936f5d --- /dev/null +++ b/news/AMZN/2023.01.12/AMAZON COM INC : Receives a Buy rating from Bernstein.txt @@ -0,0 +1 @@ +Bernstein is positive on the stock with a Buy rating. The target price is still set at USD 125. \ No newline at end of file diff --git a/news/AMZN/2023.01.12/AMAZON COM INC : Receives a Buy rating from UBS.txt b/news/AMZN/2023.01.12/AMAZON COM INC : Receives a Buy rating from UBS.txt new file mode 100644 index 0000000000000000000000000000000000000000..c0c71f825901cb01a74f152d1875f9dc540fcc29 --- /dev/null +++ b/news/AMZN/2023.01.12/AMAZON COM INC : Receives a Buy rating from UBS.txt @@ -0,0 +1 @@ +UBS is positive on the stock with a Buy rating. The target price remains set at USD 125. \ No newline at end of file diff --git a/news/AMZN/2023.01.12/MarketScreener's World Press Review: January 12.txt b/news/AMZN/2023.01.12/MarketScreener's World Press Review: January 12.txt new file mode 100644 index 0000000000000000000000000000000000000000..01eb2105cb77e176b7b47a5d9f4d9dce3bf27f69 --- /dev/null +++ b/news/AMZN/2023.01.12/MarketScreener's World Press Review: January 12.txt @@ -0,0 +1,12 @@ + +Savills, Tesco, Marks and Spencer, Asos, Cellnex, Bertelsmann, Barnes & Noble, Disney, BlackRock, Marvell Technology, Advanced Micro Devices, Alcoa Corp, Ford, LG Energy Solution, SK Innovation, Amazon, Lenovo, Dell, Apple and Maruti Suzuki feature in this press review! + + + + +  + +  +  +  +  diff --git a/news/AMZN/2023.01.12/NLRB affirms Amazon Labor Union win, union calls on Amazon to begin bargaining.txt b/news/AMZN/2023.01.12/NLRB affirms Amazon Labor Union win, union calls on Amazon to begin bargaining.txt new file mode 100644 index 0000000000000000000000000000000000000000..99b31a588d067e8285a0ec54641022f4043f2f41 --- /dev/null +++ b/news/AMZN/2023.01.12/NLRB affirms Amazon Labor Union win, union calls on Amazon to begin bargaining.txt @@ -0,0 +1 @@ +The National Labor Relations Board has certified the Amazon Labor Union's victory at an Amazon warehouse in New York City's Staten Island, rejecting complaints filed by Amazon. Amazon said it will appeal the ruling.In a tweet, Amazon Labor Union organizer Christian Smalls said, "We beat Amazon fair and square. Now is the time to sign a contract!"Amazon is against the union effort, and filed complaints with the NLRB to nullify the union election after workers at the Staten Island warehouse voted to join the Amazon Labor Union in April 2022.An NLRB hearing officer rejected Amazon's complaints in September.On Wednesday, NLRB Region 28 Director Cornele Overstreet agreed with the prior NLRB ruling dismissing Amazon's complaints and upholding the union election."Having carefully considered the exceptions and briefs, the Hearing Officer's rulings made at the hearing are free from prejudicial error and are hereby affirmed," NLRB Region 28's decision said.Amazon spokesperson Kelly Nantel said in a statement Amazon will file further appeals in an effort to derail the workers' choice to be represented by the union at the Staten Island warehouse."As we've said since the beginning, we don't believe this election process was fair, legitimate, or representative of the majority of what our team wants," Nantel said.Copyright 2023 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News \ No newline at end of file diff --git "a/news/AMZN/2023.01.12/The INFORM Act \342\200\223 A New Tool To Combat Online Counterfeits.txt" "b/news/AMZN/2023.01.12/The INFORM Act \342\200\223 A New Tool To Combat Online Counterfeits.txt" new file mode 100644 index 0000000000000000000000000000000000000000..3599901b3a8f629085f3ac8bf8b02b8cf3162cd7 --- /dev/null +++ "b/news/AMZN/2023.01.12/The INFORM Act \342\200\223 A New Tool To Combat Online Counterfeits.txt" @@ -0,0 +1,12 @@ +On December 29, 2022, President Biden passed the Integrity, Notification, and Fairness in Online Retail Marketplaces for Consumers Act, also known as the INFORM Consumers Act (the "INFORM Act") as part of the omnibus Consolidated Appropriations Act of 2023. The INFORM Act serves to target stolen and counterfeit products on e-commerce platforms by requiring Online Marketplaces, defined as "any person or entity that operates a consumer-directed electronically based or accessed platform," (e.g., Amazon, Facebook, Etsy) to gather identifiable information about its high-volume third-party sellers. High Volume Third-Party Sellers are defined as sellers that produce 200 or more transactions resulting in $5,000 or more in gross revenue during a continuous 12-month period. Within 10 days of qualifying as a High Volume Third-Party Seller ("Seller"), such Seller must provide the Online Marketplace its (1) bank account numbers, (2) government-issued identification, (3) tax identification numbers, and (4) contact information. Online Marketplaces are required to verify the accuracy of this information annually. If an Online Marketplace does not receive this information within the 10-day period, it is required to suspend the Seller's activity until it receives such information.The INFORM Act necessitates transparency not only between Online Marketplaces and Sellers, but with the consumer as well. The INFORM Act requires Sellers' identities and contact information be made available to consumers. In addition, Online Marketplaces are required to provide consumers with an electronic and telephonic method to report suspicious activity. The Federal Trade Commission will oversee and implement any penalties for violating the requirements, which go into effect June 27, 2023.With the proliferation of third-party sellers on online marketplaces such as Amazon, Facebook, and Etsy, the INFORM Act is aimed at protecting consumers from buying products that may be unsafe, deceptively labeled, expired, or even banned by federal regulators. At the same time, the INFORM Act should make it easier for intellectual property owners to report fraudulent, counterfeit, or infringing products and to enforce their intellectual property more swiftly and aggressively. The INFORM Act creates incentives for online marketplaces to be more diligent and proactive about vetting its third-party sellers, the result of which should help lower the cost and reduce the time it takes for IP owners to enforce their rights and combat counterfeit products on the market.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Brad Rose +Pryor Cashman LLP +7 Times Square +New York +NY 10036 +UNITED STATES +Tel: 212421 4100 +Fax: 212326 0806 +E-mail: marketingdepartment@pryorcashman.com +URL: www.pryorcashman.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AMZN/2023.01.12/Warner Bros Discovery rolls out first HBO Max price hike in U.S..txt b/news/AMZN/2023.01.12/Warner Bros Discovery rolls out first HBO Max price hike in U.S..txt new file mode 100644 index 0000000000000000000000000000000000000000..b1cbf81ff4c784e597525c826bdc9b946be5297f --- /dev/null +++ b/news/AMZN/2023.01.12/Warner Bros Discovery rolls out first HBO Max price hike in U.S..txt @@ -0,0 +1,20 @@ +Jan 12 (Reuters) - Warner Bros Discovery Inc is +raising HBO Max's ad-free subscription fee in the United States +for the first time since the streaming service was launched in +2020, the TV network said on Thursday, sending its shares down +3%.Prices for the platform, currently streaming shows such as +"The White Lotus" and "House of the Dragon", will rise by $1 to +$15.99 plus taxes a month for U.S. subscribers.HBO Max, which also has an ad-supported tier, faces pressure +from slowing user growth and tight competition from larger +rivals Netflix Inc and Walt Disney Co's +Disney+. Netflix and Disney had also raised prices for some of +their streaming services last year.Warner Bros Discovery, formed last year by the merger of +AT&T Inc's WarnerMedia unit and Discovery Inc, is pushing +for internal changes including plans to combine HBO Max and +Discovery+.The media company last month said it expected costs related +to content write-offs to rise by $1 billion to as much as $3.5 +billion.It also made both HBO Max and Discovery+ available on +Amazon.com Inc's Prime Video platform in select +markets. +(Reporting by Yuvraj Malik in Bengaluru; Editing by Devika +Syamnath) \ No newline at end of file diff --git a/news/AMZN/2023.01.13/Amazon Com : I'm an Amazon delivery driver in Baltimore. My favorite features on our new v...txt b/news/AMZN/2023.01.13/Amazon Com : I'm an Amazon delivery driver in Baltimore. My favorite features on our new v...txt new file mode 100644 index 0000000000000000000000000000000000000000..9c9167634368c59bb9ab214d4df2991c997c1c82 --- /dev/null +++ b/news/AMZN/2023.01.13/Amazon Com : I'm an Amazon delivery driver in Baltimore. My favorite features on our new v...txt @@ -0,0 +1,94 @@ + + + Brandi Monroe is a delivery driver for Kangaroo Direct, an Amazon Delivery Service Partner in the Baltimore, Maryland area. Follow her on a tour of her favorite features in the new electric delivery van. + + + + About two years ago, I started as a delivery associate driving for Kangaroo Direct, which is an Amazon Delivery Service Partner. We make deliveries for Amazon customers in the Baltimore, Maryland area. I've met some great customers as a driver-some recognize me from previous deliveries and have left nice thank you notes and even some snacks on my route. + + + +Amazon and Rivian CEOs on innovating to protect the planet + + + Andy Jassy and RJ Scaringe share their perspectives on building a more sustainable future as hundreds of Rivian vans begin delivering orders to Amazon customers. + + +Read more + + + + Recently, one of the coolest parts of my job has been working with the new vans from Rivian. We've had them for a few months so I've gotten pretty familiar with all the new features. One of the biggest differences between the new vans and the previous models is that they are electric powered. They're really quiet compared to the gas-powered vans. There are also a lot of new, techy features that help make work a bit easier and safer-I especially love the air-conditioned seats! + + + Let's go inside to check out some of the new features. + + + The screen built into the dash is also one of my favorite parts of the new vans. It shows real-time route information, customer notes, and other delivery details. + + + The size and details of the screen on the vans make it easy to work with. + + + You can also use the tablet to control the seats, heated steering wheel, defrost, air conditioning, and heat. + + + The sound system in the van is great too. I can listen to everything from R&B to EDM and hear the directions along the way. + + + The 360-degree camera shows me everything around the van. It really improves my visibility and reduces the blind spots. + + + The new vans also have regenerative braking. The vehicle slows down when you release the accelerator. + + + The door to the cargo area opens automatically when I park the van. The lights inside the van also come on, which is helpful when I'm delivering later in the day. + + + The space in the back is tall enough that you can stand up straight while you're looking for a package. + + + There are two rows of shelves available in the back, which makes it easy to store and find our deliveries. Some of shelves are adjustable, which allows me to customize the space for larger packages. + + + Another great safety feature is the slip-resistant floors and exterior steps. + + + When I'm ready to unload packages out of the back, I can simply press a button and the rear door releases, making it very easy to open. + + + All of these features are cool, but the air-conditioned seats are a clear winner in my book. + + + Learn more about Amazon's custom electric delivery vansfrom Rivian. + + +This article from Monroe was edited for length. + + + + + Related Tags + + +TransportationAmazon DSPDelivery Sustainability + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amazon.com Inc. published this content on 13 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2023 18:19:04 UTC. + + diff --git a/news/AMZN/2023.01.13/China's awakening on cryptos? - Crypto Recap.txt b/news/AMZN/2023.01.13/China's awakening on cryptos? - Crypto Recap.txt new file mode 100644 index 0000000000000000000000000000000000000000..0fa03040073decf5aff120930279971626eb93b4 --- /dev/null +++ b/news/AMZN/2023.01.13/China's awakening on cryptos? - Crypto Recap.txt @@ -0,0 +1,37 @@ + + +Block 1: Essential news +Binance is on all fronts +Everything seems to be going well for the crypto giant. First, Binance has just registered with the Swedish financial supervisory authority (FSA) to continue its regulation in Europe, after having done so in seven EU member states including France. Second, Binance.US, the platform's U.S. arm, announced that it is buying the assets of bankrupt platform Voyager Digital for $1 billion, which will allow Voyager's customers to recoup some of their deposits that are tied up in the bankruptcy process. Third, Binance announced that it is hiring 3,000 people in various positions for 2023. +Avalanche blockchain partners with Amazon +The cloud computing platform of the tech giant, Amazon Web Services (AWS), has partnered with Avalanche blockchain, "to accelerate the adoption of blockchain by businesses, institutions and governments". The goal is to bring the entire Avalanche ecosystem (decentralized applications, network nodes, subnets...) directly to AWS. We will see more concretely in the coming months how this partnership will materialize, but it raises questions about a potential progressive centralization of the Avalanche network in the hands of Amazon. Decentralization of networks being a feature dear to the eyes of cryptosphere aficionados. +Polygon blockchain partners with Mastercard +After having established partnerships with renowned companies such as Walt Disney, BMW, Mercedes, Adobe, Adidas or Starbucks, Polygon is partnering with the payment giant Mastercard. It was at the Consumer Electronics Show (CES) in Las Vegas that the company announced the launch of an accelerator dedicated to music artists. So what does this have to do with Polygon? The artist accelerator will include a limited edition NFT called "The Mastercard Music Pass" that will give holders access to "exclusive gear, unique resources and other physical and virtual experiences." This collection will be backed by the Polygon blockchain. More concrete details will be given in the coming months. But it does shows Mastercard's willingness to occupy the field in the crypto sphere. +Sam Bankman-Fried explains himself again +Sam Bankman-Fried, the disgraced former head of FTX, denied hiding billions of dollars and gave his take on what happened to his failed platform in a lengthy new post on Substack published Thursday. He denied stealing funds and said FTX and its sister company Alameda Research collapsed because of the crypto market collapse and inadequate hedging by Alameda. "I did not steal funds and I certainly did not hide billions of dollars," Bankman-Fried writes. Later in the post, he concludes that "Alameda lost money because of a market crash for which it was not properly covered." While claiming that the trading company "failed to adequately hedge its market exposure," he also stated that he "did not run Alameda in recent years." We should still have some wacky explanations from SBF by his trial date of October 2, 2023.  +Coinbase cuts 950 jobs +After being forced to pay $100 million last week to comply with regulators, the US crypto platform announced this week that it is laying off another 950 employees, knowing that it had already kicked out 1,100 employees six months earlier. Coinbase also mentioned that it will be dropping projects that are deemed to have a "low probability of success" in order to reduce expenses. As the chart below shows, Coinbase has been playing elbows with the Crypto.com platform in terms of layoffs since 2022.  + + +Number of layoffs at entities with ties to cryptosBloomberg + +Block 2: Crypto Analysis of the Week +President Xi Jinping's administration has taken market-friendly steps in recent days, such as easing policy toward tech giants and strengthening the real estate sector. Given these reversals, could cryptocurrency policy also change? Some crypto-optimists see a real possibility. This is particularly true of self-proclaimed crypto-billionaire and blockchain founder Tron, who expressed his excitement on Twitter. +After all, in recent months, Hong Kong has prioritized the creation of a virtual asset center, all under the watchful eye of Beijing. There has even been talk of a connection program that would allow Chinese people to access cryptocurrencies through Hong Kong. +Julia Leung Fung-yee, executive director of Hong Kong's Securities and Futures Commission (SFC), announced that the securities watchdog will propose a set of digital assets that it will allow to be traded by retail investors. Hong Kong's decision to allow retail trading of cryptocurrencies comes after months of turmoil in the industry, with the collapse of cryptocurrency platform FTX as the latest blow. +"Over the past year, virtual assets have gone from highs to low (price) levels. The good thing is that when the froth is taken out of the system with the collapse of platforms and some tokens, it focuses the minds of investors and sellers on protecting investors," Leung said during a panel discussion at the Asian Financial Forum in Hong Kong on Wednesday. +The SFC will start accepting applications for Virtual Asset Service Providers (VASP) licenses in mid-2024, Leung said. The new cryptocurrency regime requires all trading platforms and exchanges to apply for a license or face fines and jail time. +Many China watchers will dismiss such speculation as highly fanciful. In addition to the catastrophic fallout from the FTX debacle, policymakers still remain reticent about issues such as the waste of energy associated with cryptocurrency mining and the dangers of cryptocurrency speculation. +Yet even a partial easing of China's restrictions would be a boon to the industry, one enticing enough for crypto miners, crypto traders and crypto investors to pin at least some of their hopes on. +Dreams of a China-led renaissance may be nothing more than a triumph of hope over reason. But optimists can still look forward to the next Ethereum upgrade, which is expected to take place in March. Its name? Shanghai. We will detail the stakes of this upgrade in a dedicated article. +Block 3: Tops & Flops + +The evolution of the Top 20 cryptocurrencies in terms of capitalization over one week. (Click to enlarge) + + +Heatmap Crypto +Quantify +Block 4: Readings of the week +FTX destroyed the crypto party in paradise (Wired) +Six OpenAI rivals watched by Google and Microsoft (The Information) + diff --git a/news/AMZN/2023.01.13/Element Nutritional Sciences Provides Operational Milestone Review and 2023 Outlook.txt b/news/AMZN/2023.01.13/Element Nutritional Sciences Provides Operational Milestone Review and 2023 Outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..2ddb3b3dc31ef3736171a5689d426935cd014ae7 --- /dev/null +++ b/news/AMZN/2023.01.13/Element Nutritional Sciences Provides Operational Milestone Review and 2023 Outlook.txt @@ -0,0 +1 @@ +Element Nutritional Sciences Inc. (CSE: ELMT; OTC:ELNSF; FRANKFURT:93X) (the 'Company' or 'Element'), today provides a review of its operational milestones in 2022 and an outlook for 2023.Message from Stuart Lowther, Founder and Chief Executive Officer of ElementThe commercial opportunity for Element and its Rejuvenate and Promino brands remain as attractive as ever. In the U.S. alone, the functional beverage market is estimated to be over $48 billion1 and is forecast to grow at a CAGR of 6.6%. This growth is being driven by consumers evolving to become more knowledgeable and selective about the products they consume, with 73% of adults currently consuming drinks promoting some type of added functional benefit2. The Company expects the trends in the functional beverage market to remain favourable and allocated its resources in 2022 to rebranding and reformulating its flagship brands to better align with consumer preferences and optimize profitability.Element's strategy continues to focus on driving sales by developing innovative products that improve muscle health. We have already started to realize results from our rebranding and improved product formulation as demonstrated by recent purchase orders from Shoppers Drug Mart and Walgreens for our Rejuvenate Muscle Activator stick packs. Today, we have established 33,000 points of distribution in the U.S. and Canada. Our most recent financial results show revenue has increased over 100% from the same period in 2021, along with gross margins of 23%.Looking forward to 2023, regulatory changes from Health Canada are expected to result expedited time-to-market for Rejuvenate Muscle Activator ready-to-drink beverages by enabling listings with key retailers in Canada. The Company expects that aligning U.S. and Canadian retail launches for its patented ready-to-drink beverage will create significant synergies and economies of scale that will contribute to higher gross profit margins and new points of distribution in the North American retail channel. Additionally, we are implementing new supply chain initiatives that will significantly lower raw material costs on finished goods and increase gross profit margins on all products.The sports nutrition market is expected to drive incremental growth for Element in 2023. Our proprietary sports nutrition brand, Promino, is the first patented NSF Certified for Sport supplement to be made available to major sport leagues. Through a strategic partnership with James LaValle and Mike Potenza, Promino is being hand-delivered into the training rooms of virtually all major pro sports teams via the conditioning and nutrition teams for trial programs. Already Promino is in the locker rooms in the NBA, NHL, NFL and NCAA. This strategic outreach program will continue to seed this breakthrough product with today's premier athletes and will be recognized as one of the most highly beneficial muscle recovery, repair and strength supplements available, displacing whey protein as the go-to protein source.With the current changes to demographics and the continued demand for functional beverages are expected to provide tailwinds as we build revenue for our suite of innovative and patented brands. With a new formulation, changes in product mix, rigorous cost discipline and growing sales, we also believe we can improve profitability as we scale. In Q4 2022, we completed significant consumer insight work with our new ready-to-drink brand. We have positive consumer acceptance across the board in all areas including flavor, packaging, concept and price. This work is expected to translate into retail acceptance and consumer demand.I would like to personally thank all our investors for their support. In 2022, we made significant progress towards unlocking our potential and improving muscle health for global consumers. We believe our team is well equipped to maintain our momentum into 2023 by breaking into new distribution channels with brands that are among the most innovative muscle health products in the nutritional market and that can lead the way to help millions of people improve their overall health and well being.Key Milestones in 2022DistributionReceived purchase orders from Shoppers Drug Mart Inc. ('Shoppers') to distribute Rejuvenate Muscle Activator stick-packs across 594 Shoppers locations in CanadaAnnounced Rejuvenate Muscle Activator ready-to-drink beverage is scheduled to launch in Canada ahead of schedule, following Health Canada regulatory changes, with expected Canadian retail launch in 2023 Q2.Entered into a contract with Dr. James LaValle and Mike Potenza to promote and educate professional sports leagues and teams on the benefits of Promino, Element's proprietary sports nutrition brandAnnounced that Rejuvenate Immune Health is available to consumers on the Amazon platform in the U.S. through a distribution partnership with e-commerce accelerator Pattern Inc.Signed a distribution agreement with OCSB Emerging Brands Group ('OCS Brands'), whereby OCS Brands will distribute Rejuvenate across the convenience services channel in the U.S.Rejuvenate products became available online at Walgreens.Integrated its JAKTRX performance supplement branded products on Amazon.comAnnounced that its new and patented Promino line of sports nutrition products became available on Amazon with sales and fulfillment facilitated through PatternInnovationCompleted commercialization for Clinical Strength Rejuvenate targeted towards the medical practitioner marketAcquired the right to use the same plant-based amino acid formulation underlying its Rejuvenate muscle health products to develop a new higher dosage formulation for the sports nutrition marketAnnounced that the clinically proven amino acid formulation used in Rejuvenate received a global Patent Cooperation Treaty patent issued by the U.S. Patent and Trademark OfficeFinancial and CorporateGenerated revenue of $4.1 million for the year-to-date Q3 2022, a 100% increase over the same period in the prior year, with a gross margin of 23%Commenced trading on the OTCQB Venture Market (OTCQB) under the symbol 'ELNSF' on February 2, 2022About ElementElement is an innovative and research driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically on men and women over the age of 40. Element's lead product, Rejuvenate, is a proprietary formulation that is clinically proven to assist in the rebuilding, restoration and rejuvenation of natural loss of muscle mass due to aging or other medical conditions. Element also offers JAKTRX, an elite brand of performance supplements. Element was founded in 2015 and is located in Burlington, Ontario.Forward Looking StatementsThis news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward looking statements in this news release include: the expected growth in the functional beverage market, the expected launch of Rejuvenate ready-to-drink beverage in Canada in April 2023 and that this launch will create synergies that lead to improved profitability, the expectation that points of distribution will increase in 2023, the expectation that revenue will accelerate in 2023, the expectation that Promino will contribute to revenue in 2023, and improvements in the future profitability of the Company.These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; expectations regarding the size of the United States and Canadian health, nutraceutical and wellness markets and changing consumer habits; the viability of the Company's products; availability of distribution channels for the Company's product offerings; the ability of the Company to successfully achieve its business objectives; plans for expansion; successful development of the Company's proposed products; the presence of laws and regulations that may impose restrictions or recalls on the sale of the Company's products in the United States and Canada; customer and distributor relations; fluctuations in securities markets and the inability of the Company to obtain adequate insurance to cover risks and hazards. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.Contact:Stuart LowtherTel: 416-467-5229Email: ir@elementnutrition.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMZN/2023.01.13/Lifeist's Subsidiary Mikra to Sell CELLF in 5,000+ GNC Stores Across the U.S..txt b/news/AMZN/2023.01.13/Lifeist's Subsidiary Mikra to Sell CELLF in 5,000+ GNC Stores Across the U.S..txt new file mode 100644 index 0000000000000000000000000000000000000000..5950c97306ef3e93af1bd2f06dee86a9b7eace6f --- /dev/null +++ b/news/AMZN/2023.01.13/Lifeist's Subsidiary Mikra to Sell CELLF in 5,000+ GNC Stores Across the U.S..txt @@ -0,0 +1 @@ +Lifeist Wellness Inc. ('Lifeist' or the 'Company') (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: NXTTF), a health-tech company that leverages advancements in science and technology to build breakthrough companies that transform human wellness, today announced that its U.S. biosciences subsidiary Mikra Cellular Sciences Inc. ('Mikra') has signed a distribution agreement with GNC Holdings, LLC ('GNC') to make GNC the exclusive distribution partner for CELLF and its future derivates in the United States in GNC's retail stores, at gnc.com and on GNC's channel on Amazon.com, for an initial 12-month period.GNC is one of the world's largest specialty retailers of nutritional products including vitamin, mineral, herbal and other specialty supplements and sports nutrition, diet and energy products. As of January 2023, GNC has more than 5,000 retail locations throughout the U.S. and franchise operations in 42 international markets, as well as offers products online at gnc.com and through its growing Amazon channel.GNC is a dream partner to come on board as the first U.S. national retail partner for Mikra's flagship product CELLF,' said Faraaz Jamal, CEO of Mikra. 'GNC is a global leader in health and nutrition, which demonstrates the rapid growth potential of CELLF. We are working hard to ramp up production, ready logistics partners and finalize marketing activities with GNC, targeting for our product to be available for purchase online and in GNC stores across the U.S. in the coming months. We also look forward to expanding our distribution rights for our future product offerings.'A fantastic moment for Mikra and Lifeist,' said Meni Morim, CEO of Lifeist. 'This distribution deal yields access to over 5,000 retail doors with face-to-face time with millions of GNC consumers for CELLF, and greatly enhances Mikra's reputation at the perfect time as it looks to release an exciting line of new products in the next few weeks and months. For Lifeist, Mikra's distribution deal is an important building block toward Lifeist's profitability and represents large strides in our corporate evolution to wellness.'CELLF will also be available for sale at gnc.com, on Mikra's proprietary e-commerce platform wearemikra.com, and through other e-commerce marketplaces besides Amazon. Mikra also retains the ability to sell directly or indirectly outside the United States.About Lifeist Wellness Inc.Sitting at the forefront of the post-pandemic wellness revolution, Lifeist leverages advancements in science and technology to build breakthrough companies that transform human wellness. Portfolio business units include: CannMart, which operates a B2B wholesale distribution business facilitating recreational cannabis sales to Canadian provincial government control boards; CannMart Labs, a BHO extraction facility for the production of high margin cannabis 2.0 products; the CannMart.com marketplace, which provides U.S. customers with access to hemp-derived CBD and smoking accessories; Australian Vapes, Australia's largest online retailer of vaporizers and accessories and Mikra, a biosciences and consumer wellness company bringing to market innovative therapies for cellular health.Contact:Meni MorimTel: 647-362-0390Email: ir@lifeist.comForward Looking InformationThis news release contains 'forward-looking information' within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as 'may', 'expect', 'likely', 'should', 'would', 'plan', 'anticipate', 'intend', 'potential', 'proposed', 'estimate', 'believe' or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions 'may' or 'will' happen.The forward-looking information contained herein, including, without limitation, statements related to Mikra's fulfillment of its agreement with GNC and contribution to Lifeist profitability and evolution to wellness are made as of the date of this news release and is based on assumptions management believed to be reasonable at the time such statements were made. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. Such factors include, without limitation: issues relating to production, distribution and sales of CELLF. Additional risk factors can also be found in the Company's current MD&A filed under the Company's SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMZN/2023.01.16/Davos 2023: Palantir CEO predicts hiring while preparing for economic slowdow...txt b/news/AMZN/2023.01.16/Davos 2023: Palantir CEO predicts hiring while preparing for economic slowdow...txt new file mode 100644 index 0000000000000000000000000000000000000000..c597a10eb4125f8f29229a536f4a8a59f5bf91e2 --- /dev/null +++ b/news/AMZN/2023.01.16/Davos 2023: Palantir CEO predicts hiring while preparing for economic slowdow...txt @@ -0,0 +1,29 @@ +DAVOS, Switzerland, Jan 16 (Reuters) - Palantir +Technologies Inc is still looking to grow its headcount +even as it scrutinizes its spending and confronts economic +uncertainty, its chief executive told Reuters.The U.S. software company in 2023 expects to add a couple +hundred people to its roughly 3,500 staff, in line with prior +years of expansion just as peers in the technology industry are +firing people, CEO Alex Karp said on the sidelines of the World +Economic Forum in Davos.Vociferously contrarian, the company for years planned for +war, political upheaval and a souring economy - though not a +pandemic, "the only disaster I think we did not predict," Karp +said, joking that Palantir had "a basement filled with things +prepared (but) no masks."Palantir has clinched more business following Russia's war +with Ukraine, selling software to visualize an army's positions +as well as help enterprises vet their supply chains or reduce +costs. Still, its stock is down more than 50% in the past year +like other tech companies.Economists surveyed by the World Economic Forum largely +expect a recession this year.Asked about potential cuts, Karp said Palantir was doing +well in the United States, United Kingdom and Canada while +evaluating spend in slower markets."Things could get much, much worse, and then of course +everything's on the table," Karp said.The economy already is pinching Palantir's customers. Karp +said one of clients' top-ten priorities was reducing what they +were spending on cloud-computing, and Palantir was partnering +with Cloudflare Inc to monitor such usage."They're under enormous cost pressure. This is just a huge +cost center, and they need to find ways to do the same things +cheaper," he said. The top cloud providers are Amazon, +Microsoft and Google, though Karp said his +company is "cloud agnostic." +(Reporting By Jeffrey Dastin in Davos, Switzerland; Editing by +Josie Kao) \ No newline at end of file diff --git a/news/AMZN/2023.01.16/India plans cheaper finance, easier rules for small retailers -sources.txt b/news/AMZN/2023.01.16/India plans cheaper finance, easier rules for small retailers -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..5b578f332b93131f82561cfa2bce2990a0f8bf05 --- /dev/null +++ b/news/AMZN/2023.01.16/India plans cheaper finance, easier rules for small retailers -sources.txt @@ -0,0 +1 @@ +The proposal, which could be announced next month in the last full budget before the 2024 general election, aims to revive growth in the smaller physical retail sector which has been hit by the entry of companies such as Amazon, Flipkart, Tata Group-backed BigBasket and Reliance Industries."The government is working on a policy through which easy credit can be made available at low interest rates. Affordable and easy loans against inventories is one of the options," a government official, who declined to be named, told Reuters.The commerce ministry did not reply to a request for comment.Neither of the officials provided details on how banks would be compensated for providing cheap loans.The policy would also replace licensing requirements for new shops and renewals with a simple online process. Retail stores currently require between 25 and 50 different licences, some of which must be renewed annually, Kumar Rajagopalan, chief executive officer of the Retailers Association of India (RAI), said.Owners of small shops selling household items ranging from vegetables to refrigerators are considered a key voter base for the Bharatiya Janata Party but they have suffered a number of setbacks since Modi came to power.In a bid to formalise the economy and increase the number of tax payers, Modi banned high value notes in 2016 and later introduced a goods and services tax that hit small businesses the hardest.The pandemic also caused small business losses to mount while online giants gained momentum, prompting the government in 2020 to offer one-year collateral-free working capital loans of up to $123 to help street vendors restart their businesses.The share of e-commerce in India's retail space is expected to grow to nearly 19% by 2030 from 7% currently, according to a 2022 RAI report. "Many small retail set ups have faced closure because of e-commerce platforms. We have proposed uniform guidelines to address issues hindering a healthy environment," another government official said.($1 = 81.3650 Indian rupees) (Reporting by Sarita Chaganti Singh; Editing by Kirsten Donovan)By Sarita Chaganti Singh and Shivangi Acharya \ No newline at end of file diff --git a/news/AMZN/2023.01.16/UK's Clarkson apologises to Harry and Meghan over 'naked' column.txt b/news/AMZN/2023.01.16/UK's Clarkson apologises to Harry and Meghan over 'naked' column.txt new file mode 100644 index 0000000000000000000000000000000000000000..761a3ffb8a21e38c8df6140f6751777dbd2d63e2 --- /dev/null +++ b/news/AMZN/2023.01.16/UK's Clarkson apologises to Harry and Meghan over 'naked' column.txt @@ -0,0 +1 @@ +Clarkson, who gained worldwide fame as presenter of motoring show "Top Gear", wrote in the Sun tabloid in December that he hated Meghan on a "cellular level", earning widespread condemnation from politicians, his employers, and even his own daughter.Clarkson's opinion piece on the Duke and Duchess of Sussex became the most complained about article for Britain's press standards regulator, with more than 20,000 complaints received.On Monday, Variety reported that Amazon Prime Video was likely to part ways with Clarkson, citing sources who said the streaming giant would not be working with him beyond seasons of "The Grand Tour" and "Clarkson's Farm" that have already been commissioned. Neither Amazon Prime nor a representative for Clarkson immediately responded to a request for comment. "The language I'd used in my column was disgraceful," Clarkson said on Instagram on Monday, adding he had sent the apology on Christmas morning. "I really am sorry."Harry and Meghan have made headlines around the world in recent weeks after the couple released a Netflix series, and later Harry's book, in which they accused the British tabloid press of misogyny and racism.Harry told broadcaster ITV that Clarkson's comments were not only horrific and hurtful, but that they would encourage people around the world to think it was acceptable to "treat women that way". Following the widespread public backlash after his column was published, Clarkson has said previously he was "horrified to have caused so much hurt".He said on Monday that despite an apology from the Sun newspaper and his efforts to explain himself, more than 60 British lawmakers "demanded action to be taken".He said his employers - British broadcaster ITV and Amazon - "were incandescent". "It's hard to be interesting and vigilant at the same time," Clarkson said in his post."Very soon now I shall be a grandfather so in future, maybe I'll just write about that." (Reporting by Farouq Suleiman; Editing by Vin Shahrestani) \ No newline at end of file diff --git a/news/AMZN/2023.01.17/Amazon Com : How an agriculture company uses AWS Cloud computing to increase sustainabilit...txt b/news/AMZN/2023.01.17/Amazon Com : How an agriculture company uses AWS Cloud computing to increase sustainabilit...txt new file mode 100644 index 0000000000000000000000000000000000000000..152f8074018d1d98aaa02702ebdec0dbad5cc0ae --- /dev/null +++ b/news/AMZN/2023.01.17/Amazon Com : How an agriculture company uses AWS Cloud computing to increase sustainabilit...txt @@ -0,0 +1,152 @@ + + + Growing food and raising livestock contributes to global warming, but one AWS customer is using cloud-based tools to help farmers deploy climate change solutions. + + + + Global drought has been a stubbornly destructive presence this last year, even in parts of the world where it's rarely seen-including the United States and Europe. The Drought in Europe August 2022: GDO Analytical Reportby the Joint Research Centre (JRC), the European Commission's science and knowledge service, states that this year 64% of Europe is experiencing-or in danger of facing-drought. + + + +How AWS will return more water than it uses by 2030 + + + Getting AWS to be water positive requires new solutions and collaborations involving employees, global nonprofits, local communities, and public utilities-all with the same goal in mind: creating a better future for our planet. + + +Watch now + + + + Not surprisingly, a key driver of the worldwide drought we are experiencing is climate change. Many factors contribute to the environmental fix we find ourselves in. Among them is agriculture. The global agriculture industry has a massive impacton global water supplies and sustainability and is widely recognized as a significant contributor to climate change, particularly through methane gas emissions from cattle. But even in less extreme conditions than the drought European countries experienced last summer (and other parts of the world continue to deal with), the agriculture industry has a massive impact on global water supplies and sustainability. Food and livestock production uses 70% of available fresh waterand 50% of habitable land. + + + The quandary, of course, is that we need food. The question for the agriculture industry is: "How can farmers supply food to the world's population with as little contribution to climate change as possible?" + + + AWS customer CropXhas one answer. + + + The Israel-based agricultural firm uses AWS solutions to power more effective, cost-efficient farming. CropX's easy-to-use, do-it-yourself (DIY) agronomic farm management platform ("CropX platform") and app helps farmers boost crop yields by focusing on saving water, agrochemicals, labor, and energy-which in turn helps farmers reduce their environmental and planetary impact. + + + Digging for data, literally + + + While agricultural services are available that provide farmers with above-ground data for farming efficiency, less than 10% of companies extract data from the soil. And the soil "is where the most valuable data can be extracted," according to Matan Rahav, vice president of Business Development at CropX. + + + Without soil data, many farmers are not optimizing their resources, and they might irrigate or fertilize too much or too little, and so on. On a planet with a rapidly growing population, where farmers have to grow more food with less land, inputs, and overall environmental impact, CropX stepped in to address wasted resources in agriculture. + + + Using the dashboard, CropX customers can track soil and crop health, and manage their irrigation, fertilization, and crop protection. The CropX platform integrates both proprietary software and hardware, and contains patented internet of things (IoT) sensors that the company manufactures itself. The CropX platform is accessible on mobile and desktop systems, to aid farmers in minimizing resource inputs while increasing their yields. + + + Between 2018 and 2020, CropX scaled its in-soil data analytics platform on AWS fourfold, allowing it to ingest millions of soil and weather-related data points daily. Its platform also incorporates above-ground data layers, including satellite imagery, and the AWS Cloud enables it to incorporate more satellite imagery and real-time weather data. + + + From raw data to actionable insights + + + The CropX platform processes raw soil data via soil sensors and analyzes it in real time, which makes the data more accessible and user friendly, and integrating additional data layers easier. Data layers include soil maps, topography maps, weather data, weather forecasts, satellite imagery (CropX develops its own image-processing), hydraulic models, crop models, user inputs, data from the irrigation system and controllers, and data from all agricultural equipment (such as tractors, harvesters, and sprayers). CropX sends these layers together in the cloud to provide accurate insights and recommendations that are crop-specific and growth-stage specific, such as advising farmers when, where, and how much to irrigate, fertilize, and spray. + + + This information will update automatically on the CropX app, where farmers can view it on their mobile devices with additional insights and information, without having to download any raw data or export data. If farmers do want raw data, they can access it, as well as graph views. + + + Thanks to AWS' cloud and tools, we successfully built a hyper-scalable, DIY, global infrastructure and are now winning channels and customers, positioning ourselves as the world's leading agronomic farm management platform solution. + + + Matan Rahav + + + Vice President of Business Development of CropX + + + + + The CropX platform's insights for irrigation, nutrition, and disease management + + + CropX's data solution captures data from thousands of global soil sensors and sends it to a centralized platform running on hundreds of Amazon Elastic Compute Cloud (Amazon EC2)instances. It then analyzes and saves satellite imagery data, and stores all agronomical data and insights in the cloud. CropX also relies on AWS solutions to support growing traffic from web and mobile devices, and to transfer messages between services. + + + The company combines above-ground datasets with sensor-measured, in-soil data. It then transmits that data to its AWS-powered solution. The data is integrated with imaging, weather, and topography metrics, as well as crop models, hydraulic models, and user inputs. The CropX platform uses artificial intelligence to analyze the data and provides insights to farmers on the CropX web interface or mobile app. The solution specifically helps with irrigation management, telling farmers when they need to irrigate and how many millimeters of water is required for optimal moisture. The recommendations are specific to each crop and growth-stage. + + + The CropX platform also helps with nutrition management, alerting farmers when it detects risky buildup of salinity or leaching of nitrates from the root zone to the groundwater. Nutrition-management alerts can help farmers prevent overapplying nitrogen fertilizer, which is the main cause of agricultural pollution. It is also a very expensive fertilizer. + + + A third way the CropX platform helps farmers is with disease management. The solution identifies disease risks and specific sprays needed to prevent diseases from occurring. This more targeted approach counters and mitigates the common practice of spraying everything, every week-so that no disease can ever develop. This traditional approach is both costly and environmentally unfriendly. + + + "Our customers can use the app to view the updated status of soil readings, moisture levels, and root zones," said Sagi Briteman, vice president of Research and Development at CropX. "We also provide alerts and notifications if fields are too dry or too wet." + + + +How a climate change startup is using AWS Cloud computing to monitor new forest growth + + + Terraformation combines local expertise and AWS Cloud computing tools to regrow plants. + + +Read more + + + + CropX' technology helps farmers supplying PepsiCo Mexico to use less water + + + An example of a company effectively using the technology is CropX's collaboration with PepsiCo Mexico. PepsiCo Mexico's parent company, PepsiCo-an American multinational food, snack, and beverage corporation headquartered in the U.S.-has set a number of interconnected goals that aim to contribute to its positive water impact. It designs its efforts and partnerships to facilitate long-term, sustainable water security for its business. + + + PepsiCo has an ambitious goal of 15% water reduction by 2025. As part of this effort, CropX collaborates with PepsiCo Mexico (PepsiCo's largest operation in Latin America) to help the producers that supply the potatoes reduce their water use. + + + The CropX platform provides real-time recommendations to the potato farmers, which helps them optimize irrigation management. Previously, farmers went to the field to feel whether the soil was too wet or dry. By using the app to apply the right amount of water, in the right place, and at the right time, potato farmers now use up to 25% less water. Given PepsiCo Mexico's stature as the largest potato buyer, their helping each grower save water, in aggregate, has a very significant impact on water savings. + + + After delivering a very successful pilot with PepsiCo, where it demonstrated significant water, agrochemicals, and fertilizer savings and managed to significantly reduce greenhouse gas emissions, CropX expanded its collaboration to more countries. It now collaborates with PepsiCo in countries such as Guatemala, Colombia, Argentina, the Dominican Republic, Peru, Chile, Brazil, Egypt, Saudi Arabia, Australia, and New Zealand. + + + Serving over 5,000 customers with over 12,000 installations across 50 countries, CropX has demonstrated 50% water and 20% agrochemicals savings with 20% yield increase for 100 crop types. + + + Stewards of sustainability + + + This year, CropX expanded its platform to include an innovative disease-management capability that can lead to reduced chemical use while protecting crop yields. CropX platform tracks key fungal diseases on over 320 crop and fungal disease combinations and offers advice on when to spray. This new capability integrates 25 years of agronomic research and expertise of Netherlands-based Dacom Farm Intelligence, which CropX acquired in 2021. By timing the application correctly, farmers can ensure that they protect their crops while limiting the use of chemicals to what is absolutely necessary. + + + "Thanks to AWS' cloud and tools, we successfully built a hyper-scalable, DIY, global infrastructure and are now winning channels and customers, positioning ourselves as the world's leading agronomic farm management platform solution," said Rahav. + + + To learn more about CropX and AWS customers pioneering and powering agriculture in the cloud, visit Agriculture Customer Stories. And learn about innovative work AWS customers in other sectors and industries are doing in the cloud by visiting the AWS Customer Story Collections page. + + + + + Related Tags + + +AWSSustainabilityClimate + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amazon.com Inc. published this content on 17 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2023 21:39:02 UTC. + + diff --git a/news/AMZN/2023.01.17/Amazon Com : delivers more than 30 million meals to communities worldwide.txt b/news/AMZN/2023.01.17/Amazon Com : delivers more than 30 million meals to communities worldwide.txt new file mode 100644 index 0000000000000000000000000000000000000000..bed9c680efc23f796c0b43534238d9af25b7853d --- /dev/null +++ b/news/AMZN/2023.01.17/Amazon Com : delivers more than 30 million meals to communities worldwide.txt @@ -0,0 +1,82 @@ + + + +Updated January 17, 2023 + + + Amazon Community Delivery has reached a milestone: Our teams have delivered 30 million meals, for free, from food banks across the U.S. to families and individuals in need. The program began near the start of the pandemic and donated over $2 million to 25 food banks nationwide last year. But our work continues. As the weather gets colder across many parts of the U.S., access to food can become a bigger struggle for many families. Inflation has also impacted everyday consumers and food-relief organizations, which have seen a decrease in donations amid climbing food prices. Amazon Community Delivery remains committed to helping communities, including those where our employees live and work. + + +Updated December 13, 2021 + + + Since the first wave of the pandemic, Amazon has donated its logistics network to support food banks and community organizations, delivering groceries and pre-packaged meals directly to vulnerable families and those disproportionately impacted by COVID-19. Using Amazon's transportation network of delivery service partners, deliveries now total more than 20 million meals to underserved families, vulnerable seniors, and school children in more than 25 U.S. cities, and in communities in Australia, Japan, Singapore, Spain, and the UK. + + +Updated February 5, 2021 + + + Amazon continues to help get millions of meals to tens of thousands of people, as food banks and community organizations face unprecedented demand. Hunger is on the rise during the pandemic, and millions of Americans are unemployed. + + + Since March 2020, we have donated delivery servicesthrough our Amazon Flex network and other delivery service partners. These drivers have brought more than 12 million meals straight to those in need-in over 25 cities across the U.S. and in communities in Australia, Japan, Singapore, Spain, and the UK. + + + "Amazon has a longstanding commitment to addressing right now needs-with over $100 million in donations to homelessness, hunger, and disaster relief," said Alice Shobe, director of Amazon in the Community. "The pandemic intensified the need for hunger-relief efforts, and Amazon is committed to playing our part by donating delivery services to help food banks and community organizations get meals to the doorsteps of people in need." + + + George A. Jones, CEO of Bread for the City, a Washington, D.C.-based food pantry supported by Amazon, said the health and economic fallout of the pandemic is "hitting those we serve hardest." + + + An Amazon Flex driver loads her vehicle with groceries from Bread for the City, a Washington, D.C. food pantry. Amazon is donating delivery services so that food can be brought directly to the homes of people in need. + + + Jones added that "Amazon's generous donation of delivery services has enabled us to reach even more of our families and seniors, helping ensure that they get the food they need to stay safe and healthy while maintaining social distancing." + + + Amazon has also piloted deliveries of hundreds of thousands of meals with Portland Public Schools and Seattle Public Schools, and delivered meals and devices for Los Angeles Unified School District. In the Puget Sound region, our deliveries are specifically for students who are medically fragile and have disabilities. + + + "Amazon has been a great community partner because they've helped to fill a gap that was a challenge for our normal operations," said Seattle Public Schools Nutrition Services Director Aaron Smith. "Besides stepping up to help do so much, they did it with the passion and dedication that these students and families deserve." + + + Amazon made food deliveries in cities across 12 states, including Arizona (Phoenix); California (Los Angeles, Riverside, Anaheim, Long Beach, San Francisco, Oakland); Florida (Miami, Fort Lauderdale, Orlando, Tampa, St. Petersburg); Maryland (Baltimore); Michigan (Detroit); New York (New York City); Ohio (Cincinnati, Cleveland); Oklahoma (Oklahoma City); Oregon (Portland); Tennessee (Nashville); Texas (Houston, Dallas, Fort Worth); Washington (Seattle); and Washington D.C. + + + Food deliveries are also taking place around the world in Melbourne, Tokyo, Singapore, Madrid, Valencia, and London. In the U.K., Amazon teamed up with charity Magic Breakfast to help schools reach more children across the country at risk of hunger due to COVID-19 restrictions and deliver breakfast foods. + + + + Bread for the City staff prepare donations to be delivered by Amazon Flex drivers. + + + These bags from Bread for the City are headed directly to the doorsteps of people in need. + + + + + + Related Tags + + +COVID-19DonationsCommunityDelivery Washington D.C.Amazon Flex + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amazon.com Inc. published this content on 18 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2023 17:19:07 UTC. + + diff --git a/news/AMZN/2023.01.17/Amazon will not cut jobs in Italy, unions say after meeting.txt b/news/AMZN/2023.01.17/Amazon will not cut jobs in Italy, unions say after meeting.txt new file mode 100644 index 0000000000000000000000000000000000000000..1cf31e4dd4f94f4e87789d58473bdd6604e92503 --- /dev/null +++ b/news/AMZN/2023.01.17/Amazon will not cut jobs in Italy, unions say after meeting.txt @@ -0,0 +1 @@ +Amazon.com Inc said earlier this month it planned to cut over 18,000 jobs globally and later disclosed it would shut three warehouses in Britain, sparking concerns there could be workforce reductions in other European countries.Italian trade unions FIT-CISL, Filt-CGIL and UIL Trasporti said in separate statements that during the meeting, called in response to news reports, an Amazon Italy manager said there was no reason for Italian workers to worry.The manager added that there would likely be cuts in the workforce in Britain and Spain, according to FIT-CISL.Amazon Italy declined to comment on the meeting but said the company stood by the comments made by Chief Executive Andy Jassy on Jan. 5 about its plans to cut over 18,000 jobs. (Reporting by Elvira Pollina, writing by Federico Maccioni; editing by Alvise Armellini, Jon Boyle and Jonathan Oatis) \ No newline at end of file diff --git a/news/AMZN/2023.01.17/Davos 2023: Colombia pushes LatAm corporate tax accord.txt b/news/AMZN/2023.01.17/Davos 2023: Colombia pushes LatAm corporate tax accord.txt new file mode 100644 index 0000000000000000000000000000000000000000..ce0f03b724d1b03c09c80cec56dbd8090dfe8d94 --- /dev/null +++ b/news/AMZN/2023.01.17/Davos 2023: Colombia pushes LatAm corporate tax accord.txt @@ -0,0 +1 @@ +Paris-based think tank Organisation for Economic Cooperation and Development in 2021 rallied some 140 countries to support a revamp of cross-border tax rules to take better account of the emergence of big digital companies, such as Apple and Amazon that can book profits in low-tax countries.Ocampo said the OECD-brokered deal, which is expected to take effect in 2024, did not adequately reflect the interests of many developing economies."The idea is to have a mechanism of real cooperation that will go over what we consider the frustrating results of the OECD negotiations of a couple of years ago," Ocampo told Reuters on the sidelines of the World Economic Forum annual meeting."Only very large multinationals were captured by that regulation, which is too limited. And there is still a bias in favour of (countries that host) the headquarters of multinationals," he said in Davos.Ocampo said he was approaching Brazil and Chile initially with the proposal, and planned to discuss it with Mexico. The goal was to have a finance minister-level meeting of interested countries in July. (Reporting by Mark John in Davos; Editing by Alexander Smith) \ No newline at end of file diff --git a/news/AMZN/2023.01.17/IMDb Brings Coverage of the Sundance Film Festival Experience to Entertainment Fans Acr...txt b/news/AMZN/2023.01.17/IMDb Brings Coverage of the Sundance Film Festival Experience to Entertainment Fans Acr...txt new file mode 100644 index 0000000000000000000000000000000000000000..10f6094ae00952003629f0eec0df122a37deb4e5 --- /dev/null +++ b/news/AMZN/2023.01.17/IMDb Brings Coverage of the Sundance Film Festival Experience to Entertainment Fans Acr...txt @@ -0,0 +1,25 @@ + +IMDb (www.imdb.com), the world's most popular and authoritative source for information on movies, TV shows, and celebrities, will feature exclusive, on-the-ground coverage of the 2023 Sundance Film Festival across the IMDb site, apps, and social channels, offering hundreds of millions of entertainment fans around the world an inside peek at the biggest news, titles, and stars in Park City, Salt Lake City, and the Sundance Resort, Utah. As an official festival sponsor, IMDb will produce exclusive celebrity portraits and interviews with leading actors, writers, and directors of titles including Bad Behaviour, Cat Person, Fairyland, Flora and Son, Magazine Dreams, and Theater Camp in The IMDb Studio at Acura Festival Village on January 20-23. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230117005186/en/IMDb coverage of the 2023 Sundance Film Festival includes a celebrity portrait studio, and video interviews with top stars and filmmakers in The IMDb Studio at Acura Festival Village (Photo Credit: IMDb) +IMDbPro (www.imdbpro.com), the essential resource for entertainment industry professionals, is the presenting sponsor of Sundance Institute’s “Opening Night: A Taste of Sundance Presented by IMDbPro” celebration on January 19. Hosted on the first night of the Sundance Film Festival, the event will celebrate the Sundance Institute and artists changing the face of independent cinema. Honorees include Luca Guadagnino (Bones and All), Ryan Coogler (Black Panther: Wakanda Forever), Nikyatu Jusu (Nanny), and W. Kamau Bell (We Need to Talk About Cosby). “A Taste of Sundance” will raise crucial funds for the essential work Sundance Institute does year-round, including grants, mentorships, critical resources, and hosting the festival. + +At The IMDb Studio at Acura Festival Village—open January 20-23—celebrity photographer Corey Nickols will capture exclusive photos and slow-motion videos with casts and filmmakers in the IMDb portrait studio. IMDb will also produce original video interviews with select casts in the custom video studio. Coverage will be featured on the IMDb site, apps, and social channels, reaching hundreds of millions of entertainment fans around the world. IMDb customers can add their most anticipated festival titles to their IMDb Watchlist to be notified when they’re available in theaters or streaming. Access to The IMDb Studio at Acura Festival Village is by invitation only. + +Additionally, IMDb will present a “Fan Favorite” STARmeter Award to Academy Award winner Jennifer Connelly. Connelly will star as Lucy in the upcoming film Bad Behaviour, debuting at the festival, and most recently dazzled fans as Penny Benjamin in the 2022 blockbuster Top Gun: Maverick (recently ranked as one of the IMDb Top Movies of the year). IMDb STARmeter Awards recognize the most popular stars on the IMDbPro STARmeter chart, which is determined by the actual page views of the more than 200 million fans who visit IMDb every month. Connelly consistently trends on the IMDbPro STARmeter chart and recently ranked as the #40 most popular star of 2022. Previous IMDb STARmeter Award recipients at the Sundance Film Festival include Rachel Brosnahan, Nicholas Braun, Mindy Kaling, Bill Skarsgård, and Peter Dinklage. Learn more about IMDb STARmeter Awards at imdb.com/starmeterawards. + +“The Sundance Film Festival is renowned for its legacy of discovering the boldest and brightest new stars and stories, and we are thrilled to amplify this work by bringing exclusive coverage of the festival to hundreds of millions of fans around the world on IMDb,” said Col Needham, founder and CEO of IMDb. “We look forward to connecting with professionals at ‘Opening Night: A Taste of Sundance Presented by IMDbPro,’ and offering premium experiences and opportunities for them to promote their work in The IMDb Studio at Acura Festival Village.” + +On January 20, at 2:30 p.m. MST, IMDb and Prime Video will host the “Authentically Successful” panel, featuring a discussion between community leaders who are paving the way for authentic and inclusive productions. Panelists include Alex Schmider, director of Transgender Representation at GLAAD; Andria Wilson Mirza, director of ReFrame; Crystal Echo Hawk, founder and executive director of IllumiNative; Kyle Bowser, senior vice president of the NAACP Hollywood Bureau; and Nic Novicki, founder of the Easterseals Disability Film Challenge. The panel will be moderated by Latasha Gillespie, global head of Diversity, Equity, Inclusion, and Accessibility for Amazon Studios and Prime Video, with an introduction from Nikki Santoro, chief operating officer of IMDb. This event takes place at the Acura Energy Stage at Acura Festival Village at 480 Swede Alley and is open to the public. + +During the festival, fans can see exclusive IMDb interviews and photo galleries at imdb.com/sundance and on IMDb social media channels including TikTok, Instagram, YouTube, Facebook, and Twitter. IMDb will also share an exclusive peek into all of the behind-the-scenes action from The IMDb Studio at Acura Festival Village, available by following #IMDbStudio. + +IMDbPro members on the standard plan can quickly and easily access detailed information about Sundance Film Festival movies, filmmakers, cast, and crew. IMDbPro standard membership includes the following: detailed contact and representation information; tools for members to manage and showcase their IMDb profile, including selecting their primary images and the credits they are best “known for”; exclusive STARmeter rankings determined by page views on IMDb; the IMDbPro app for iPhone, iPad, and Android; IMDbPro Track, which empowers members to receive personalized entertainment industry news and notifications on the people and film and TV projects they want to follow; and a convenient feature that generates custom digital assets to promote their work on social media and other platforms. IMDbPro also offers a free membership plan with features for professionals to self-identify and manage the display of information about themselves and their careers on IMDb and IMDbPro and limited access to industry news, research, and cast and crew notices. Join IMDbPro today at www.imdbpro.com. + +About IMDb + +IMDb is the world's most popular and authoritative source for information on movies, TV shows, and celebrities. Products and services to help fans decide what to watch and where to watch it include: the IMDb website for desktop and mobile devices; apps for iOS and Android; and X-Ray on Prime Video. IMDb also produces IMDb original video series and podcasts. For entertainment industry professionals, IMDb provides IMDbPro and Box Office Mojo. IMDb licenses information from its vast and authoritative database to third-party businesses worldwide; learn more at developer.imdb.com. IMDb is an Amazon company. For more information, visit imdb.com/press and follow @IMDb. + +About Acura + +Acura is a leading automotive nameplate that delivers Precision Crafted Performance – a commitment to expressive styling, high-performance and innovative engineering, all built on a foundation of quality and reliability. The Acura lineup currently features four distinctive models – the next-gen Integra sport compact, TLX sport sedan, the RDX and MDX sport-utility vehicles, along with high-performance Type S variants. Acura’s first all-electric model will be an SUV, the ZDX and ZDX Type S, and will arrive in 2024. All Acura vehicles sold in America are made in the U.S., using domestic and globally sourced parts. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005186/en/ \ No newline at end of file diff --git a/news/AMZN/2023.01.17/Microsoft to cut thousands of jobs across divisions - reports.txt b/news/AMZN/2023.01.17/Microsoft to cut thousands of jobs across divisions - reports.txt new file mode 100644 index 0000000000000000000000000000000000000000..416cec796c3d00ed4f9759e5c1be07d7c90847e2 --- /dev/null +++ b/news/AMZN/2023.01.17/Microsoft to cut thousands of jobs across divisions - reports.txt @@ -0,0 +1,29 @@ +Jan 17 (Reuters) - Microsoft Corp plans to cut +thousands of jobs with some roles expected to be eliminated in +human resources and engineering divisions, according to media +reports on Tuesday.The expected layoffs would be the latest in the U.S. +technology sector, where companies including Amazon.com Inc +and Meta Platforms Inc have announced +retrenchment exercises in response to slowing demand and a +worsening global economic outlook.Microsoft's move could indicate that the tech sector may +continue to shed jobs."From a big picture perspective, another pending round of +layoffs at Microsoft suggests the environment is not improving, +and likely continues to worsen," Morningstar analyst Dan +Romanoff said.U.K broadcaster Sky News reported, citing sources, that +Microsoft plans to cut about 5% of its workforce, or about +11,000 roles.The company plans to cut jobs in a number of engineering +divisions on Wednesday, Bloomberg News reported, according to a +person familiar with the matter, while Insider reported that +Microsoft could cut recruiting staff by as much as one-third.The cuts will be significantly larger than other rounds in +the past year, the Bloomberg report said.Microsoft declined to comment on the reports.The company had 221,000 full-time employees, including +122,000 in the United States and 99,000 internationally, as of +June 30, according to filings.Microsoft is under pressure to maintain growth rates at its +cloud unit Azure, after several quarters of downturn in the +personal computer market hurt Windows and devices sales.It had said in July last year that a small number of roles +had been eliminated. In October, news site Axios reported that +Microsoft had laid off under 1,000 employees across several +divisions.Shares of Microsoft, which is set to report quarterly +results on Jan. 24, were marginally higher in late afternoon +trading. +(Reporting by Yuvraj Malik in Bengaluru; Editing by Maju Samuel +and Sriraj Kalluvila) \ No newline at end of file diff --git "a/news/AMZN/2023.01.18/\"Grow a Business that Services People Even In a Recession,\" - Modiv Automation Founder ...txt" "b/news/AMZN/2023.01.18/\"Grow a Business that Services People Even In a Recession,\" - Modiv Automation Founder ...txt" new file mode 100644 index 0000000000000000000000000000000000000000..f45a1ccaf0768df666b7bebeb303d9cf6fac568a --- /dev/null +++ "b/news/AMZN/2023.01.18/\"Grow a Business that Services People Even In a Recession,\" - Modiv Automation Founder ...txt" @@ -0,0 +1 @@ +Jose Toes, the founder of Modiv Automation, proposes a better financial strategy than investing in the latest crypto project, NFT, or company stock!There are a lot of hype words when it comes to investing and diversifying. You hear advice from all over suggesting the cryptocurrency market, NFTs or the latest stock pick. These can work great when the market is trending but it's not, you're left with heavy losses. Modiv Automation Founder, Jose Torres, thinks that it's smart to have investments but also have businesses that service people even in a recession."In a recession, you want to invest in businesses that don't require a lot of capital or risk and can still generate cash. Cryptocurrency and stocks are good but in the face of recession, they are not ideal. One of the best options for generating income in a recession-prone economy is e-commerce. Amazon or Walmart are perfect examples as people will continue to shop online despite the economic downturn. With an automated Amazon or Walmart store, you own and control something that will continue as the years go by"Led by Jose Torres, a seasoned entrepreneur and Amazon expert, Modiv Automation helps clients to set up automated Amazon and Walmart stores. The stores, which require little or no effort on the client's part to operate, are an incredible opportunity to establish a passive income stream. Modiv Automation handles the technical and demanding aspects of the automated Amazon and Walmart store creation and guarantees clients a $50k/month sales benchmark in less than six months or their team will work for free until they get you there."We have a unique approach to Amazon automation and Walmart automation based on what works, what doesn't work and what we know about the space," explained Jose Torres, Founder of Modiv Automation. "For over five years, we've been helping ambitious people like you grow their own hands-free businesses. We can help you diversify your income and have a business that you aren't stressed over depending on different market conditions."The Modiv Automation team manages hundreds of successful private clients with plenty of positive reviews. Their system has helped them generate over $100 million in sales on Amazon and Walmart. Additionally, they are the only company that offers Walmart and Amazon dropshipping that is not against terms of service which helps keep your account safe.About Modiv AutomationsModiv Automation is a performance-driven automation company by Jose Torres dedicated to growing eCommerce businesses for private clients. Over the years, the company has worked on personal and private accounts, helping thousands of clients from around the world grow a real business asset that will prove to be a great addition to their income portfolio.To learn more, log on to https://www.modivautomation.com/Media ContactCompany Name: Modiv AutomationContact Person: Jose TorresEmail: stonefelix962@gmail.comCountry: United StatesWebsite: https://www.modivautomations.com/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AMZN/2023.01.18/Amazon Says Majority Of Role Eliminations Are In WW Amazon Stores Business, People Expe...txt b/news/AMZN/2023.01.18/Amazon Says Majority Of Role Eliminations Are In WW Amazon Stores Business, People Expe...txt new file mode 100644 index 0000000000000000000000000000000000000000..38a5df5547558e04172702cc4bc3a4c989b9bec6 --- /dev/null +++ b/news/AMZN/2023.01.18/Amazon Says Majority Of Role Eliminations Are In WW Amazon Stores Business, People Expe...txt @@ -0,0 +1,10 @@ +Jan 18 (Reuters) - Amazon.com Inc:* AMAZON WILL BE NOTIFYING EMPLOYEES IMPACTED BY DECISION TO +REDUCE WW STORES CORPORATE HEADCOUNT - AMAZON MEMO* AMAZON EXPECTS ALL NOTIFICATIONS IN THE U.S. ,CANADA, AND +COSTA +RICA TO BE COMPLETED BY THE END OF JAN 18 - AMAZON MEMO* AMAZON WILL BE NOTIFYING EMPLOYEES IN CHINA AFTER THE +CHINESE +NEW YEAR - AMAZON MEMO* AMAZON SAYS MAJORITY OF ROLE ELIMINATIONS ARE IN OUR WW +AMAZON +STORES BUSINESS AND PEOPLE EXPERIENCE & TECHNOLOGY ORGANIZATION +- AMAZON MEMO +Further company coverage: \ No newline at end of file diff --git a/news/AMZN/2023.01.18/Amazon faces fines for unsafe warehouse worker conditions after OSHA inspections.txt b/news/AMZN/2023.01.18/Amazon faces fines for unsafe warehouse worker conditions after OSHA inspections.txt new file mode 100644 index 0000000000000000000000000000000000000000..a61a414fcc6b525a8fb28bb5b496acc043649895 --- /dev/null +++ b/news/AMZN/2023.01.18/Amazon faces fines for unsafe warehouse worker conditions after OSHA inspections.txt @@ -0,0 +1 @@ +The Occupational Safety and Health Administration Wednesday cited Amazon for safety violations as federal safety inspections at three Amazon warehouses found the company is failing to keep workers safe.OSHA said the warehouses, in Deltona, Fla., Waukegan, Ill., and New Windsor, N.Y., are violating the Occupational Safety and Health Act, which requires employers to provide safe workplaces."Each of these inspections found work processes that were designed for speed but not safety, and they resulted in serious worker injuries," said Assistant Secretary for Occupational Safety and Health Doug Parker in a statement. "While Amazon has developed impressive systems to make sure its customers' orders are shipped efficiently and quickly, the company has failed to show the same level of commitment to protecting the safety and well-being of its workers."OSHA said investigators found Amazon warehouse workers at high risk for lower back injuries and other musculoskeletal disorders related to workers frequently being required to lift packages and other items. It said that the heavy weight of the items; awkward postures, such as twisting, bending and long reaches while lifting; and long hours required to complete assigned tasks also contribute to the injuries.Amazon spokesperson Kelly Nantel said the company denies the allegations and intends to appeal."We've cooperated fully, and the government's allegations don't reflect the reality of safety at our sites," Nantel said. "Over the last several months we've demonstrated the extent to which we work every day to mitigate risk and protect our people, and our publicly available data show we've reduced injury rates nearly 15% between 2019 and 2021."OSHA also said it discovered Amazon warehouse workers experience high rates of musculoskeletal disorders.In a letter to an Amazon site manager in Deltona, Fla., OSHA said an inspection showed "workers face immense pressure to meet the pace of work and production quotas at the risk of sustaining musculoskeletal injuries, which are often acute."OSHA also said the Amazon on-site first aid clinic at the site is not staffed appropriately.Proposed penalties for the violations cited total $60,269.Ongoing OSHA inspections are being done at three other Amazon locations in Colorado, Idaho and New York state.Copyright 2023 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News \ No newline at end of file diff --git a/news/AMZN/2023.01.18/Amazon to lay off staff in U.S., Canada and Costa Rica by end of day.txt b/news/AMZN/2023.01.18/Amazon to lay off staff in U.S., Canada and Costa Rica by end of day.txt new file mode 100644 index 0000000000000000000000000000000000000000..59ab718999023a70b3288843f78f58ad83532eb6 --- /dev/null +++ b/news/AMZN/2023.01.18/Amazon to lay off staff in U.S., Canada and Costa Rica by end of day.txt @@ -0,0 +1,18 @@ +Jan 18 (Reuters) - Amazon.com Inc will cut some +jobs in the United States, Canada and Costa Rica by the end of +Wednesday as part of its plan to lay off 18,000 employees, the +e-commerce giant said in a memo to staff seen by Reuters.The layoffs are the latest in the U.S. technology sector, +with companies cutting their bloated workforce and slashing +costs to reverse pandemic-era excesses and prepare for a +worsening global economy.The company is terminating 2,300 employees in Seattle and +Bellevue, according to an update on the Worker Adjustment and +Retraining Notification (WARN) site. The U.S. labor law requires +companies planning a mass layoff to inform employees 60 days +before the closure.Amazon.com Chief Executive Andy Jassy said earlier this +month the cuts, about 6% of the company's roughly 300,000 +corporate employees, would mostly impact the e-commerce and +human resources divisions.Microsoft said earlier on Wednesday it would cut +about 10,000 jobs and take a $1.2-billion charge. +(Reporting by Tiyashi Datta, Eva Mathews and Maria Ponnezhath +in Bengaluru; Editing by Krishna Chandra Eluri, Shinjini +Ganguli, and Uttaresh.V) \ No newline at end of file diff --git a/news/AMZN/2023.01.18/Big Tech braces for dismal profits, more job cuts.txt b/news/AMZN/2023.01.18/Big Tech braces for dismal profits, more job cuts.txt new file mode 100644 index 0000000000000000000000000000000000000000..2cc13e8fee832cdcfca204a11a60e541c1fa6c33 --- /dev/null +++ b/news/AMZN/2023.01.18/Big Tech braces for dismal profits, more job cuts.txt @@ -0,0 +1 @@ +Each of America's five largest tech companies, though, are expected to report a fall in profits for the October-December period, as they try to recalibrate in a high-interest environment. Facebook-owner Meta Platforms Inc and Amazon.com Inc are expected to report the biggest declines.Analysts have cut their total revenue projection for the five companies - Meta, Amazon, Apple Inc, Alphabet Inc and Microsoft Corp - by 5% to $561.4 billion as of January from October.Big tech companies are expected to be among the biggest drags to S&P 500's eleven sectors, with the information technology sector projected to report an earnings decline of 9.5%, according to FactSet data.GRAPHIC: Wall Street analysts alter revenue estimates for Big Tech (https://www.reuters.com/graphics/BIGTECH-PREVIEW/akveqaobrvr/chart.png)"I would not expect good news for a while ... at least for the next three quarters. I would expect more layoffs," said Siddharth Singhai, chief investment officer at investment firm Ironhold Capital.Amazon, which is expected to report that earnings slumped 38% and revenue grew at the slowest pace in over 22 years, started communicating to staff on Wednesday whether they were laid off as part of its decision to cut 18,000 jobs.The reduction in workforce came after the retailer overhired based on pandemic demand, echoing Meta's aggressive hiring to meet a surge in social media usage by stuck-at-home consumers.Meta, which decided in November to chop 11,000 jobs, could see a 42% plunge in profit, its fifth straight quarter of decline. The company is also likely to see a 7% fall in revenue - its worst showing ever.The five companies on an average increased their employee base by 45% in 2020 and 20.5% in 2021, with Apple hiring the most modestly."We are forecasting another 5% to 10% headcount cut across the tech sector as many of these companies were spending money like 1980s rockstars," said Wedbush analyst Dan Ives.Microsoft said on Wednesday it would eliminate 10,000 roles, affecting less than 5% of its employees. Analysts expect the company to report a 2.4% rise in revenue, the slowest pace in about 24 quarters. Profit is expected to fall 9%.GRAPHIC: Amazon hired generously; Apple stayed frugal through pandemic (https://www.reuters.com/graphics/TECH-LAYOFF/zgpobrklqvd/chart.png)Apple's revenue is expected to fall for the first time in 15 quarters as its major supplier Foxconn faced major disruption at the biggest iPhone factory in China due to worker unrest related to COVID curbs.Revenue growth at Alphabet, which is slowing hiring and making "course corrections" to cut costs, is expected to be the slowest in 10 quarters.To shore up stock prices, analysts said these companies could pour money into buybacks this year. Their shares fell between 26% and over 60% last year versus the broader market's nearly 20% decline.They together have cash and cash equivalents of over $110 billion, with Amazon having the most and Meta having the least at the end of the September quarter. (Reporting by Nivedita Balu and Yuvraj Malik in Bengaluru; Editing by Maju Samuel)By Nivedita Balu and Yuvraj Malik \ No newline at end of file diff --git a/news/AMZN/2023.01.18/Dollar rises on safe haven bids; yen regains footing.txt b/news/AMZN/2023.01.18/Dollar rises on safe haven bids; yen regains footing.txt new file mode 100644 index 0000000000000000000000000000000000000000..9839d5ea10e4fceebe8fd421b9bd069576cd9105 --- /dev/null +++ b/news/AMZN/2023.01.18/Dollar rises on safe haven bids; yen regains footing.txt @@ -0,0 +1,44 @@ +SINGAPORE, Jan 19 (Reuters) - The dollar rose broadly on +Thursday as growth concerns about the U.S. economy drove demand +for the safe-haven greenback, while the yen renewed its ascent +as investors doubled down on bets that the Bank of Japan would +shift away from its yield curve control policy.Weak U.S. data released on Wednesday showed that U.S. retail +sales fell by the most in a year in December and manufacturing +output recorded its biggest drop in nearly two years, stoking +fears that the world's largest economy is headed for a +recession."Those weak data really reinforced market concerns about an +imminent U.S. recession ... (which) really supported the dollar, +and I think that will become a growing narrative in the coming +months," said Carol Kong, a currency strategist at Commonwealth +Bank of Australia (CBA).Sterling fell 0.17% to $1.2327, away from the +previous session's one-month high of $1.2435, while the Aussie +skidded 0.49% to $0.6907, after suffering a 0.64% loss +on Wednesday.The euro shed 0.02% to stand at $1.0792, similarly +some distance from Wednesday's nine-month high of $1.08875, even +as French central bank chief Francois Villeroy de Galhau +maintained a hawkish stance over the European Central Bank's +future rate-hike path.The fresh wave of risk aversion - compounded by news of job +cuts by tech giants Microsoft and Amazon - +also kept the dollar in bid."The effects of the FOMC tightening will just become more +and more visible," Kong said.However, the greenback failed to eke out a gain against the +Japanese yen and was last 0.4% lower at 128.42 yen, +unwinding most of its previous day's rally in the immediate +aftermath of the BOJ's decision to stand pat on its ultra-loose +monetary policy.Defying market expectations, the BOJ kept its interest rate +targets and yield band intact, and instead crafted a new weapon +to prevent long-term rates from rising too much, in a show of +resolve to maintain its YCC policy for the time being.The decision sent the yen plunging some 2% against the +greenback and against other currencies shortly after, alongside +Japanese government bond yields, which tumbled the most in two +decades at one point on Wednesday.The euro was last 0.39% lower at 138.58 yen, +while sterling fell 0.23% to 158.27 yen, as markets +continued to test the resolve of the BOJ's ultra-dovish stance."I think it's really reflecting the fact that market +participants are still speculating a shift in the Bank of +Japan's policy despite their inaction yesterday," said CBA's +Kong. "While there's still high expectations for a policy shift +... I think that will keep the yen pretty elevated in the near +term."Elsewhere, the kiwi fell 0.31% to $0.6425. New +Zealand Prime Minister Jacinda Ardern will not seek re-election +and plans to step down no later than early February, she said in +a televised statement on Thursday.Against a basket of currencies, the U.S. dollar index +rose 0.09% to 102.42.(Reporting by Rae Wee. Editing by Gerry Doyle) \ No newline at end of file diff --git a/news/AMZN/2023.01.18/E-commerce in 2023 - what's hot and what's not? ParcelHero predicts this year's booms a...txt b/news/AMZN/2023.01.18/E-commerce in 2023 - what's hot and what's not? ParcelHero predicts this year's booms a...txt new file mode 100644 index 0000000000000000000000000000000000000000..3d66bd75da98eb0d899770e5ae0ad81ca64be68b --- /dev/null +++ b/news/AMZN/2023.01.18/E-commerce in 2023 - what's hot and what's not? ParcelHero predicts this year's booms a...txt @@ -0,0 +1 @@ +The home delivery expert ParcelHero has gazed into its crystal ball to forecast the key trends in e-commerce and retail for 2023. As stores attempt to bounce back from the impact of Covid, Brexit and Putin's war in Ukraine, which developments will fuel the fastest growth and which retail fads will fizzle?The home delivery expert ParcelHero has been studying the latest in e-commerce trends driving the year ahead. It's identified five strong growth areas and five e-commerce fads to avoid.ParcelHero's Head of Consumer Research, David Jinks M.I.L.T., says: 'No one is predicting 2023 will be a golden year for retailers, but there are a healthy number of growth areas to concentrate on, to maximise potential opportunities. Equally, some trends that ballooned during lockdown are now likely to burst, as shoppers forge a new balance between in-store and online shopping.'What's hot:Online holds firm - Post-Covid, Britain's High Streets are beginning to thrive once more. That means the huge market share that online captured during the height of lockdown has declined. However, for the last seven months, online sales have held firm at a consistent 26% of the overall market. While that's far from the giddy heights of 37% in February 2021, it's still well above the 19% online was averaging pre-pandemic.The green pound - Despite tightened household budgets, online shoppers say they are happy to pay a £1 premium for greener deliveries and we suspect this will become a familiar option in 2023. Those retailers that can't demonstrate a commitment to protecting the environment may suffer.Couriers snaffle further market share - More retailers and traders will move away from traditional mail in 2023. Following strikes in the postal industry, they became increasingly aware of alternative options. The big winner will be Amazon Logistics, which has already captured 17% of the UK parcel market, even delivering for rival retailers who don't use its marketplace. The parcel industry is in a state of upheaval and it is traditional players who will lose out.Paid for returns - This time last year, UK shoppers expected their returns to be free, whatever their reason for sending something back. 'Bracketing' (buying a selection of sizes, keeping the one that fits and returning the rest) was the big new trend and online titans such as Zara and Boohoo all offered free returns. Today, the true cost of returns has hit home to many retailers. This year, you'll pay £1.95 to return an item to Zara and £1.99 to Boohoo. How long will ASOS hold out?Better UX - Web site user experience (UX) will be a key differentiator in the battle to win new custom in 2023. Those retailers who cling to older web platforms and don't offer a seamless in-store and online combined experience will suffer, as buy online, pick up in store (BOPUS) options grow rapidly. Innovators such as ParcelHero are also transforming UX, by offering customers new user-friendly tools. For example, its new volumetric weight calculator takes the sting out of sending parcels overseas. It enables customers to calculate the exact volumetric weight they will be billed for - eliminating surprise extra charges once and for all.What's not:Droids and Drones - When it comes to delivery options, to quote Obi-Wan Kenobi, 'These aren't the droids you are looking for'. Amazon has 'paused' testing its Scout home delivery robot as it continues to slash costs. This year, it will be down to tech pioneers Starship Technologies to push the cause of delivery droids in the UK. Similarly, there's a market for drones to deliver specific items, such as medical supplies, to targeted locations. However, the technology is not developed enough for urban drone deliveries to become an everyday occurrence.Massive warehouse expansion - The era of big distribution centre (DC) construction to support online growth is over. However, expect to see smaller, local hubs springing up where they can be used to recharge electric vehicles for last-mile deliveries. The one big growth area may be in the Government's new freeport economic zones, such as Freeport East. Tax breaks and other incentives could fuel new DCs in these locations.Smart shopping gizmos - Investment in retail tech will become far more focused in 2023. As we've seen from the fate of drones and droids, vanity tech projects will be shelved. Forget any mass moves to virtual reality (VR) online shopping this year. Tech firms have also slashed funding of non-core, Internet of Things (IoT) projects. Amazon cancelled its Dash scheme in 2020 and is shedding 2,000 jobs from the division that develops its Alexa shopping Apps. Till-free store openings will also stall.Home food deliveries - The food delivery market has a bad case of indigestion. Online food sales fell by -13% YOY as people returned to restaurants and fast-food outlets. Services such as London's Jiffy rapid grocery deliveries closed in 2022, while Deliveroo slashed its takeaway service growth forecast by half. Ocado Retail's revenue fell by 3.8% in 21/22 and it expects earnings and customers' basket sizes to fall further in the first half of 2023, although it's more upbeat about the second half of the year. Indeed, our prediction is that the only growth area may be local supermarket tie-ins, such as Sainsbury's and Just Eat's new joint venture, where the logistics makes sense.Subscriptions - It's the Great Unsubscribe. During lockdown, many households increased their number of subscriptions from two or less to five. However, last year, 7 in 10 Brits cut their subscriptions to beauty/home grooming, food boxes, entertainment, etc, following the end of the lockdown boom.'So that's our pick of e-commerce winning and losing trends for 2023. Retailers will double-down on tech that makes their customers' shopping experience easier but they will ditch ambitious vanity projects. As an example of customer-focussed tech, ParcelHero's new volumetric weight calculator tool is now live. It's supported by a volumetrics page crammed with advice on how to reduce the overall weight of a shipment, etc. To check the new easy-to-use tool, see https://www.parcelhero.com/en-gb/support/volumetric-weight-calculatorENDSParcelHero's Head of Consumer Research, David Jinks M.I.L.T., is available to supply exclusive written comment or for interview. David is available at david@parcelhero.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AMZN/2023.01.18/Jose Torres is Helping People Make Six Figures by Leveraging His Knowledge and Team Tha...txt b/news/AMZN/2023.01.18/Jose Torres is Helping People Make Six Figures by Leveraging His Knowledge and Team Tha...txt new file mode 100644 index 0000000000000000000000000000000000000000..aaf8c79b2c8ce1035bf9c94a0880625384cc7810 --- /dev/null +++ b/news/AMZN/2023.01.18/Jose Torres is Helping People Make Six Figures by Leveraging His Knowledge and Team Tha...txt @@ -0,0 +1 @@ +There are several ways to make money online but Jose Torres went all in on eCommerce years ago which has paid off for his family along with his private clientsOver the recent years, people have realized the many opportunities available to them on the Internet. The world continues to shift more online each year. The outbreak of COVID-19 led to a heightened interest in making money online as people saw the possibilities of working remotely and earning an income with no physical interaction. Today, the Internet is a prime resource for generating income, but many people still don't understand how to take advantage of its opportunities or where to even start.Jose Torres is a serial entrepreneur and Amazon/Walmart expert who has established several seven figure businesses for himself and others through eCommerce. He understands the various making money opportunities on the Internet and has mastered the ropes of starting, managing, and growing an online business. Having achieved financial freedom, Jose Torres has set up structures to help other people become financially free too."The fight is against poverty and not to compete about who's doing better than the other," explained Jose Torres. "I am honored to help others attain financial freedom, and it brings me great joy to see others succeed. We have put together a structure and team to help us actualize our vision to see more people escape the scourge of poverty. We are doing all we can because it's not about financial gain for us, it's truly to help people gain a life I have built for my own family"Jose started his online journey working as a Virtual Assistant on Upwork. His job involved collecting data for Amazon. On the job, Jose studied how the e-commerce giant operated and soon crafted a plan to build and scale his own success leading to managing millions of sales on Amazon for others. This led to the establishment of Modiv Automation. Jose and the team at Modiv Automation leverage the millions of products and brands selling on Amazon and Walmart to create automated stores for their clients.By working with Modiv Automation, a client can get a fully automated Amazon or Walmart store set up which allows them to diversify their income and improve their portfolio. They use the techniques that they have used to build other 6 and 7 figure stores.Jose guarantees that a client's store will do $50,000/month in sales within 6 months or they will work for free until they get you there. They have a framework that has been tested and proven over the last five years. Contact Jose Torres today to begin the journey to making passive income with little or no effort. Visit https://www.modivautomation.com/ for more information about Jose.About Modiv AutomationModiv Automation is a performance-driven automation company by Jose Torres dedicated to growing eCommerce businesses for private clients. Over the years, the company has worked on personal and private accounts, helping thousands of clients from around the world grow a real business asset that will prove to be a great addition to their income portfolio.To learn more, log on to https://www.modivautomation.com/Media ContactCompany Name: Modiv AutomationContact Person: Jose TorresEmail: stonefelix962@gmail.comCountry: United StatesWebsite: https://www.modivautomations.com/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AMZN/2023.01.18/Microsoft to cut 10,000 jobs as tech layoffs intensify.txt b/news/AMZN/2023.01.18/Microsoft to cut 10,000 jobs as tech layoffs intensify.txt new file mode 100644 index 0000000000000000000000000000000000000000..8913d9c93528b71009ccce829677cc9b457f1e87 --- /dev/null +++ b/news/AMZN/2023.01.18/Microsoft to cut 10,000 jobs as tech layoffs intensify.txt @@ -0,0 +1 @@ + (Reporting by Yuvraj Malik and Akash Sriram in Bengaluru; Editing by Maju Samuel and Sriraj Kalluvila) \ No newline at end of file diff --git a/news/AMZN/2023.01.18/OSHA cites 3 Amazon warehouses for high injury risk.txt b/news/AMZN/2023.01.18/OSHA cites 3 Amazon warehouses for high injury risk.txt new file mode 100644 index 0000000000000000000000000000000000000000..72a634b3dfc1a7257e27c91f2cb7c8b4f765a1e9 --- /dev/null +++ b/news/AMZN/2023.01.18/OSHA cites 3 Amazon warehouses for high injury risk.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Federal safety investigators cited three Amazon warehouses for putting workers at serious risk of injury from the bending, twisting and lifting required to rapidly move and stack packages for hours.Amazon rejected the findings by the Occupational Safety and Health Administration, and said it would appeal.OSHA announced the citations Wednesday at warehouses in Florida, Illinois and New York, which were inspected as part of an ongoing investigation into Amazon's safety practices in conjunction with the U.S. Attorney’s Office for the Southern District of New York.The Seattle-based e-commerce giant, which earned $33 billion in 2021, faces $60,269 in total fines if OSHA prevails.The fines are the maximum penalty under the Occupational Safety and Heath Act's “general duty” clause, which requires employers to provide a safe working environment, said Assistant Secretary for Occupational Safety and Health Doug Parker. But in a briefing with reporters, Parker dismissed the idea that Amazon could easily absorb the penalty rather than shoulder the cost of changing its practices, saying the company is legally required to take action or face more serious consequences.“Each of these inspections found work processes that were designed for speed but not safety, and they resulted in serious worker injuries,” Parker said, adding that Amazon “continues to conduct business as usual” despite serious injury rates at warehouses that were nearly double the industry average in 2021.Parker said the Amazon warehouses in New York and Florida had DART rates - meaning days away from work, job restrictions or transfers due to injuries - that were triple the industry average of 4.7 injuries per 100 workers.Amazon has itself has acknowledged at injury rates for its warehouse workers are higher compared to its peers but says it has invested millions of dollars in improving its safety record.Amazon spokesperson Kelly Nantel said OSHA's “allegations don’t reflect the reality of safety at our sites."“Over the last several months we’ve demonstrated the extent to which we work every day to mitigate risk and protect our people, and our publicly available data show we’ve reduced injury rates nearly 15% between 2019 and 2021,” Nantel said.OSHA said workers at the three facilities were at high risk of lower back injuries and other musculoskeletal disorders because of repeated bending, twisting and lifting and as they race to transfer heavy packages to and from carts, conveyer belts, trailers and tall shelves.Parker said workers were clocked making these repetitive moves up to nine times per minute.OSHA recommended a series of remedies including providing machinery that would reduce the need for workers to bend and twist, lift packages to dangerous heights, or walk too far with heavy loads. It also recommended providing more frequent breaks and job rotations.Amazon says those are the kinds of policies the company has already been implementing. The company cites its partnership with the National Safety Council to develop best practices, and says workers are regularly reminded to take breaks and join stretching groups.In an emailed statement, the company said it continually strives to reduce the risk of items becoming dislodged and falling on workers “including assessing and revising engineering protocols, regularly training employees, and continually assessing injuries and near-misses to identify additional ways to improve workplace safety.”Amazon said “we strongly disagree with OSHA's claims” that it has ignored health and safety standards.The inspections were conducted last summer after referrals from the U.S. Attorney’s Office for the Southern District of New York, which has encouraged former and current Amazon workers to directly report safety issues to them. In addition to potential safety violations, the office has said it is investigating “possible fraudulent conduct designed to hide injuries from OSHA and others.”Last month, OSHA issued 14 citations against Amazon for failing to properly record injuries at warehouses in five states.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.01.18/Pyrex maker settles over false 'Made in USA' claims.txt b/news/AMZN/2023.01.18/Pyrex maker settles over false 'Made in USA' claims.txt new file mode 100644 index 0000000000000000000000000000000000000000..fdfc92a05a52f50cb76557899949b21be30845f1 --- /dev/null +++ b/news/AMZN/2023.01.18/Pyrex maker settles over false 'Made in USA' claims.txt @@ -0,0 +1 @@ +Instant Brands LLC did not admit or deny wrongdoing in Wednesday's settlement with the Federal Trade Commission, which approved it by a 4-0 vote.The FTC said Instant Brands shifted some production of Pyrex cups, which are used in home baking, to China from March 2021 to May 2022 after being unable to meet demand on Amazon.com's website early in the COVID-19 pandemic.Despite the shift, Instant Brands marketed the Chinese-made cups as "Made in USA" and as "American as Apple Pie" though the cups were marked "Made in China," the FTC said.More than 110,000 Chinese-made cup sets that were advertised as "Made in USA" were sold to U.S. consumers, many of whom complained after seeing where the cups were made, the FTC said.Some consumers are willing to pay more for products made in the United States. The settlement calls for Instant Brands to pay a $129,416 fine, and stop claiming its products are U.S.-made unless their final assembly and all significant processing take place there, and virtually all components are sourced domestically.Instant Brands did not immediately respond to requests for comment. The Downers Grove, Illinois-based company is controlled by private equity firm Cornell Capital LLC.In 2021, the FTC adopted a "Made in USA Labeling Rule" to protect businesses and consumers from what it called "rampant" fraud by marketers over their products' origins. (Reporting by Jonathan Stempel in New York; Editing by Sandra Maler)By Jonathan Stempel \ No newline at end of file diff --git a/news/AMZN/2023.01.18/U.S. agency cites Amazon.com for safety hazards.txt b/news/AMZN/2023.01.18/U.S. agency cites Amazon.com for safety hazards.txt new file mode 100644 index 0000000000000000000000000000000000000000..2963daaa9ef3e16dc3cc4074869143dec741cba4 --- /dev/null +++ b/news/AMZN/2023.01.18/U.S. agency cites Amazon.com for safety hazards.txt @@ -0,0 +1 @@ +Workers at the facilities were exposed to ergonomic hazards that put them at high risk for lower back injuries and other musculoskeletal disorders, U.S. Attorney Damian Williams said in a statement.The facilities are located in New Windsor, New York, Waukegan, Illinois, and Deltona, Florida, Williams said. (Reporting by Jonathan Stempel in New York) \ No newline at end of file diff --git a/news/AMZN/2023.01.18/U.S. holiday sales miss estimates as inflation drag...txt b/news/AMZN/2023.01.18/U.S. holiday sales miss estimates as inflation drag...txt new file mode 100644 index 0000000000000000000000000000000000000000..b874d5690fea7beb76102c53a057b15abba44ac2 --- /dev/null +++ b/news/AMZN/2023.01.18/U.S. holiday sales miss estimates as inflation drag...txt @@ -0,0 +1 @@ +The leading retail industry group said including e-commerce, holiday sales jumped to $936.3 billion during November and December, missing its forecast of a rise of between 6% and 8% over 2021."We knew it could be touch-and-go for final holiday sales given early shopping in October that likely pulled some sales forward plus price pressures and cold, stormy weather," NRF Chief Economist Jack Kleinhenz said.In an attempt to exhaust excess inventories and bring back stocks to normal levels retailers including Amazon.com Inc, Target Corp and Walmart Inc offered discounts as early as October.This helped spur demand and lure in price sensitive consumers who are seeing decades-high inflation eat into their disposable income.Americans awaited their chance to purchase products at the lowest possible price between Thanksgiving and Cyber Monday. During the five-day long period, a record 196.7 million shoppers made purchases in stores and online, exceeding its expectations, according to the NRF. However, the Commerce Department said on Wednesday that retail sales dropped 1.1% in December putting consumer spending and the overall economy on a weaker growth path heading into 2023 as shoppers pulled forward holiday purchases into October. Earlier this month, Adobe Analytics reported U.S. online spending rose a better-than-expected 3.5% during the 2022 holiday season, as Americans capitalized on hefty discounts. However, online holiday sales grew at the slowest pace as customers felt the brunt of rising prices. (Reporting by Aatrayee Chatterjee and Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/AMZN/2023.01.19/Amazon announces end to AmazonSmile.txt b/news/AMZN/2023.01.19/Amazon announces end to AmazonSmile.txt new file mode 100644 index 0000000000000000000000000000000000000000..953e20f1857310c9533dd1cfbc7b13918b6ea659 --- /dev/null +++ b/news/AMZN/2023.01.19/Amazon announces end to AmazonSmile.txt @@ -0,0 +1 @@ +E-commerce giant Amazon announced Wednesday it will close its charity AmazonSmile to "pursue and invest" in other philanthropic efforts.AmazonSmile, which has been around since 2013, sought to make it easier for customers to support their favorite charities through the platform."However, after almost a decade, the program has not grown to create the impact that we had originally hoped," Amazon said in a statement. "With so many eligible organizations -- more than one million globally -- our ability to have an impact was often spread too thin."Amazon said it will wind down AmazonSmile by Feb. 20. It said it will give charities participating in AmazonSmile a one-time donation equivalent to three months of what each made in 2022 to help them in the transition."They will also be able to accrue additional donations until the program officially closes in February," Amazon said. "Once AmazonSmile closes, charities will still be able to seek support from Amazon customers by creating their own wish lists."Amazon said it will continue its investments in areas like affordable housing, access to computer science education for students in underserved communities, along with logistics infrastructure and technology to assist broad communities impacted by natural disasters.The news comes as Amazon faces and fines and layoffs in a sector that is facing headwinds.On Wednesday, the Occupational Safety and Health Administration cited Amazon for safety violations after federal safety inspections at three of its warehouses -- in Deltona, Fla., Waukegan, Ill., and New Windsor, N.Y.Earlier this month, Amazon announced layoffs totaling 18,000 positions. Amazon chief executive Andy Jassy said then that the company was facing an uncertain economy and that it hired too rapidly over the last few years.Copyright 2023 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News \ No newline at end of file diff --git a/news/AMZN/2023.01.19/Amazon to hike prices of some music subscription plans from Feb.txt b/news/AMZN/2023.01.19/Amazon to hike prices of some music subscription plans from Feb.txt new file mode 100644 index 0000000000000000000000000000000000000000..5e1722199a5c41c038a40ca83b504b960fccd2ad --- /dev/null +++ b/news/AMZN/2023.01.19/Amazon to hike prices of some music subscription plans from Feb.txt @@ -0,0 +1 @@ +The price of Amazon Music's 'Unlimited Individual Plan' will go up by $1 to $10.99 per month, while its 'Unlimited Individual Student Plan' will go up to $5.99 from $4.99 per month, according to the company's FAQ page.The company said the updated pricing starts on Feb. 21 and customers will begin seeing the new price on their bill following that date.Amazon raised its music streaming service's price for Amazon Prime members in May last year, according to a Verge report.The company raised the price of its annual U.S. Prime subscriptions by 17% in February last year, looking to offset higher costs for shipping and wages. It subsequently raised prices in Europe in July. (Reporting by Rahat Sandhu in Bengaluru; Editing by Rashmi Aich) \ No newline at end of file diff --git a/news/AMZN/2023.01.19/Amazon.com to Webcast Fourth Quarter 2022 Financial Results Conference Call.txt b/news/AMZN/2023.01.19/Amazon.com to Webcast Fourth Quarter 2022 Financial Results Conference Call.txt new file mode 100644 index 0000000000000000000000000000000000000000..a2783713d4860f82fb4335b74cfaaa5549c57f02 --- /dev/null +++ b/news/AMZN/2023.01.19/Amazon.com to Webcast Fourth Quarter 2022 Financial Results Conference Call.txt @@ -0,0 +1,5 @@ + +Amazon.com, Inc. (NASDAQ: AMZN) announced today that it will hold a conference call to discuss its fourth quarter 2022 financial results on Thursday, February 2, 2023, at 2:30 p.m. PT/5:30 p.m. ET. + +The event will be webcast live, and the audio and associated slides will be available for at least three months thereafter at www.amazon.com/ir. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005759/en/ \ No newline at end of file diff --git a/news/AMZN/2023.01.19/Busiest U.S. seaport books near-record results in 2022.txt b/news/AMZN/2023.01.19/Busiest U.S. seaport books near-record results in 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..4a9c70aa76a4eb23dae87c9620d46defd6f436be --- /dev/null +++ b/news/AMZN/2023.01.19/Busiest U.S. seaport books near-record results in 2022.txt @@ -0,0 +1,30 @@ +LOS ANGELES, Jan 19 (Reuters) - The No. 1 U.S. seaport +had its second-busiest year in 2022, even after ongoing West +Coast port labor talks, cooling demand for consumer goods and +global recession fears reduced cargo volume in the second half +of the year.The Port of Los Angeles handled 9.9 million twenty-foot +equivalent units (TEU) last year. That was down 7.2% from 2021, +when the 115-year-old seaport set an all-time cargo record, port +officials said.The Port of Los Angeles and the adjacent Port of Long Beach +typically handle about half of U.S. container shipments. The +complex lost market share to rival ports on the Atlantic and +Gulf Coasts in 2022 after shippers rerouted goods to avoid +potential disruptions from contract talks between union +dockworkers and their employers.Shipments for major retailers like Walmart, Home +Depot, Target and Amazon.com dominated +the U.S. container transportation business, accounting for about +half of total volume.The industry's imports also are shaping up to finish at near +record levels in 2022. https://tmsnrt.rs/3WavFPqThat comes despite a sharp drop in the latter half of 2022, +when the United States and other countries lifted COVID-19 +infection control measures and consumers resumed spending on +previously restricted dining, travel and other entertainment. +That change in buying behavior swamped stores and warehouses +with unsold kitchen gadgets, big-screen televisions, apparel and +other goods.The Port of Los Angeles in December added to its string of +monthly import declines with an 8.6% year-over-year drop.Forecasters expect U.S. import weakness to persist in 2023, +but some are starting to predict when the business could +rebound.Trucking company JB Hunt on Wednesday said its +customers could be finished clearing unsold inventory some time +in the second quarter of 2023, which could set the stage for +import reorders in the second half of the year.(Reporting by Lisa Baertlein in Los Angeles; Editing by Josie +Kao) \ No newline at end of file diff --git a/news/AMZN/2023.01.19/Chesapeake Energy gets rid of Texas oil assets, Ama...txt b/news/AMZN/2023.01.19/Chesapeake Energy gets rid of Texas oil assets, Ama...txt new file mode 100644 index 0000000000000000000000000000000000000000..901f675e487bb905a46a4e4db171b35d7f7a07e6 --- /dev/null +++ b/news/AMZN/2023.01.19/Chesapeake Energy gets rid of Texas oil assets, Ama...txt @@ -0,0 +1,10 @@ + +Boohoo, Dr. Martens, Goldman Sachs & JPMorgan, Bankinter, EQT, Eni, Chevron, TIM, Lufthansa, TAP, Chesapeake Energy, BNP Paribas, UBS, HSBC, Standard chartered, Delta, Southwest Airlines, Frontier, JetBlue, Amazon, Tesla, Alcoa, Citigroup and Microsoft feature in this press review! + + + + +  + +  +  diff --git a/news/AMZN/2023.01.19/Davos 2023: Global trade rethink: 'race of the big pockets'?.txt b/news/AMZN/2023.01.19/Davos 2023: Global trade rethink: 'race of the big pockets'?.txt new file mode 100644 index 0000000000000000000000000000000000000000..7b892abc5216cab812cdee099798a6547a5338ef --- /dev/null +++ b/news/AMZN/2023.01.19/Davos 2023: Global trade rethink: 'race of the big pockets'?.txt @@ -0,0 +1 @@ +The Big Three trading powers at this year's World Economic Forum all offered takes on how they saw the future of global commerce. What's not clear is where the rest of the world fits in."I am very concerned," World Trade Organization (WTO) chief Ngozi Okonjo-Iweala told Reuters on the sidelines of the meeting in Davos, Switzerland. "In this re-imagining of globalisation ... we must use it as an instrument to bring in those countries and regions that were left behind."Three decades of free global trade have, the International Monetary Fund estimates, lifted more than a billion people out of extreme poverty. In rich countries, it provided consumers with a seemingly endless supply of cheap goods. But it also left out many regions and failed to benefit the poorer members of wealthy economies, exacerbating inequality and fuelling populist demands for protectionism across the world.Add to that the more recent up-ending of the world's supply chains by the COVID-19 pandemic and the Ukraine war and a consensus has emerged that the world must do globalisation differently.The Biden administration, aware how Donald Trump benefited from voter fears that globalisation was killing U.S. jobs, is championing a trade policy that aims to protect worker rights. It is also promoting a "friend-shoring" drive to encourage firms to diversify activities to market-led economies and away from China - even as Beijing uses Davos to say it is ready to re-engage with the world after ditching its "zero-COVID" policy.Russia's invasion of Ukraine, meanwhile, has persuaded Europe it needs to wean itself off fossil fuel imports and pursue its own economic interests more vigorously, be it in clean energy or other strategic sectors such as semiconductors."RICH-COUNTRY GAME"All that played into the fixation at Davos on the $369 billion U.S. plan to tackle climate change and Europe's fears that this will suck clean tech business from elsewhere to the United States at its expense.As Europe scrambled to launch a plan of its own, Belgian Prime Minister Alexander De Croo voiced concerns that this should not turn into a "race of the big pockets" in which those countries without the resources to compete lost out.Washington promised to address concerns that its subsidies would discriminate against European manufacturers. Others noted the issue went a lot wider."Our only request would be to do that for all your partners, not just a sub-set of them," International Monetary Fund Deputy Managing Director Gita Gopinath told Reuters.Raghuram Rajan, former governor of the Reserve Bank of India, put it more bluntly."This becomes a rich-country game, right?" he told the Reuters Global Markets Forum. "We can subsidize this, you can subsidize that - what about the poor countries, who have limited fiscal room? They get left out in the cold.""Friendshoring" raises similar concerns. U.S. Treasury Secretary Janet Yellen and others use the term to describe how companies should privilege trade with like-minded countries - but that raises the question of who those countries are."Friends should not just be in Asia, there is Latin America, there is Africa," said WTO's Okonjo-Iweala. "You bring them into the supply chain and that way you also include them."Other components of what U.S. Trade Representative Katherine Tai on Wednesday described as the changing world economic order raise concerns.Some middle-income countries, for example, are smarting at what they see as the failure of a 2021 global revamp of tax rules intended to make sure multinationals such as Apple and Amazon pay a fair amount of tax on local business."There is still a bias in favour of (countries that host) the headquarters of multinationals," said Colombian Finance Minister Jose Antonio Ocampo of efforts to supplement that accord with an additional tax pact with fellow Latin American countries.There have been some efforts to ensure that the benefits of trade are spread more widely and fairly. The United States notably built into its trade pact with Mexico a mechanism for identifying and dealing with the denial of worker rights. The European Union, for its part, has stepped up efforts to ensure companies do proper due diligence on their supply chains and has long included labour rights provision in its trade deals - albeit with varying results.U.S. Trade Representative Tai told a panel on Wednesday the United States wanted to "lead a conversation" on a new version of globalisation. Many countries will want to ensure their voice is heard in that conversation. (Reporting by Mark John and Divya Chowdhury in Davos; Editing by Alex Richardson)By Mark John \ No newline at end of file diff --git a/news/AMZN/2023.01.19/Dollar climbs on safe haven bids; yen regains footing as speculators take charge.txt b/news/AMZN/2023.01.19/Dollar climbs on safe haven bids; yen regains footing as speculators take charge.txt new file mode 100644 index 0000000000000000000000000000000000000000..f417a631813158c6a8964f91ab0346f99c70421f --- /dev/null +++ b/news/AMZN/2023.01.19/Dollar climbs on safe haven bids; yen regains footing as speculators take charge.txt @@ -0,0 +1 @@ +Weak U.S. data released on Wednesday showed that retail sales fell by the most in a year in December and manufacturing output recorded its biggest drop in nearly two years, stoking fears that the world's largest economy is headed for a recession."Those weak data really reinforced market concerns about an imminent U.S. recession ... (which) really supported the dollar, and I think that will become a growing narrative in the coming months," said Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA).Sterling fell 0.15% to $1.2330, pulling further away from the previous session's one-month high of $1.2435, while the euro steadied at $1.0795, but was similarly some distance from Wednesday's nine-month high of $1.08875.The fresh wave of risk aversion - compounded by news of job cuts by tech giants Microsoft and Amazon - also kept the dollar in bid."The effects of the FOMC tightening will just become more and more visible," Kong said.The Aussie slumped 0.56% to $0.6902, further pressured by a surprise dip in Australia employment in December.The kiwi lost 0.47% to stand at $0.6415.New Zealand Prime Minister Jacinda Ardern on Thursday made a shock announcement that she would step down no later than early February and not seek re-election.Meanwhile, the greenback failed to eke out a gain against the Japanese yen and was last 0.82% lower at 127.87 yen, unwinding its previous day's rally in the immediate aftermath of the BOJ's decision to stand pat on its ultra-loose monetary policy.Defying market expectations, the BOJ kept its interest rate targets and yield band intact, and instead crafted a new weapon to prevent long-term rates from rising too much, in a show of resolve to maintain its YCC policy for the time being.The decision sent the yen plunging some 2% against the greenback and against other currencies shortly after, alongside Japanese government bond yields, which tumbled the most in two decades at one point.But markets were quick to bounce back from the initial shock and on Thursday continued to push back against the BOJ and test the resolve of its ultra-dovish stance.The euro was last 0.78% lower at 138.03 yen, while sterling fell 0.81% to 157.67 yen."I think it's really reflecting the fact that market participants are still speculating a shift in the Bank of Japan's policy despite their inaction yesterday," said CBA's Kong. "While there's still high expectations for a policy shift ... I think that will keep the yen pretty elevated in the near term."Elsewhere, the U.S. dollar index slipped 0.04% to 102.29. (Reporting by Rae Wee; Editing by Gerry Doyle and Kim Coghill)By Rae Wee \ No newline at end of file diff --git a/news/AMZN/2023.01.19/Futures fall as weak data fuel recession worries, Fed comments on tap.txt b/news/AMZN/2023.01.19/Futures fall as weak data fuel recession worries, Fed comments on tap.txt new file mode 100644 index 0000000000000000000000000000000000000000..c03f109d33aa6310182e114f71c1fe8cb05eef3b --- /dev/null +++ b/news/AMZN/2023.01.19/Futures fall as weak data fuel recession worries, Fed comments on tap.txt @@ -0,0 +1 @@ +Data on Wednesday showed retail sales, producer prices and production at U.S. factories fell more than expected in December, while November output was also weaker, adding to worries of a slowdown in the economy.This led to the S&P 500 and the Dow logging their biggest daily percentage declines in over a month in the previous session, with comments from Fed speakers that highlighted the disparity between the central bank's estimate of its terminal rate and market expectations.St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester stressed on the need to raise rates beyond 5% to bring inflation to heel, while money markets see the rate peaking at 4.85% by June, with a 25-basis point rate hike baked in for February."For once bad news really was bad news because of the implications it might have for interest rates. Weak retail sales suggested consumers' resilience may have been pushed beyond breaking point," said Russ Mould, investment director at AJ Bell."This undermined the hypothesis of a 'soft landing' for the U.S. economy."December's housing starts number, weekly jobless claims and Philadelphia Fed's Manufacturing Survey for January, due at 8:30 a.m. ET, will provide more clues on the strength of the U.S. economy.Investors are also focused on the fourth-quarter earnings season, with Netflix Inc, American Airlines Group Inc, Procter & Gamble Co and Truist Financial Corp among companies reporting results on Thursday.Analysts now expect year-over-year earnings from S&P 500 companies to decline 2.6% for the quarter, according to Refinitiv data, compared with a 1.6% decline in the beginning of the year.At 5:32 a.m. ET, Dow e-minis were down 173 points, or 0.52%, S&P 500 e-minis were down 21.25 points, or 0.54%, and Nasdaq 100 e-minis were down 69.5 points, or 0.61%.Tesla Inc fell 2% in premarket trading, leading declines among its growth peers Apple Inc, Amazon.com Inc and Microsoft Corp, whose shares were down between 0.6% and 1.0%.Piper Sandler cut the target price on electric-vehicle maker Tesla's stock to $300 from $340. (Reporting by Shubham Batra in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AMZN/2023.01.19/Google to delay portion of staff bonus.txt b/news/AMZN/2023.01.19/Google to delay portion of staff bonus.txt new file mode 100644 index 0000000000000000000000000000000000000000..e05cd97ecd0953ccc8d78e85aafb0868509aa988 --- /dev/null +++ b/news/AMZN/2023.01.19/Google to delay portion of staff bonus.txt @@ -0,0 +1 @@ +The company will pay 80% advance bonus to eligible employees initially and the remainder in later months, a spokesperson told Reuters, adding that the move was communicated to staff last year.The development comes amid tech companies' attempts to limit spending amid a broader slowdown in demand and deteriorating economic conditions.Alphabet has so far announced cuts impacting over 200 employees in its health sciences division even as its megacap peers Amazon.com Inc, Meta Platforms Inc and Microsoft Corp have let go thousands of employees.The advance bonus will be paid in January and the remaining 20% in March or April, helping Google spread out costs to the next quarter, according to a CNBC, which first reported the story. All bonuses next year onwards will be paid in March, the report added. Google typically paid full bonuses in the first month of the year. (Reporting by Yuvraj Malik in Bengaluru; Editing by Maju Samuel and Uttaresh.V) \ No newline at end of file diff --git a/news/AMZN/2023.01.19/Here's what Twitter lost in advertising revenue in final months of 2022.txt b/news/AMZN/2023.01.19/Here's what Twitter lost in advertising revenue in final months of 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..5487f5dece519f68329a3a016abf79319ff3f422 --- /dev/null +++ b/news/AMZN/2023.01.19/Here's what Twitter lost in advertising revenue in final months of 2022.txt @@ -0,0 +1 @@ +Fourteen of the top 30 advertisers on Twitter stopped all advertising on the platform after Musk took charge on October 27, according to the Pathmatics estimates. Four advertisers reduced spending between 92% and 98.7% from the week before Musk's acquisition through the end of the year.Overall, advertising spending by the top 30 companies fell by 42% to an estimated $53.8 million for November and December combined, according to Pathmatics, despite an increase in spending by six of them. Pathmatics said the previously unreported figures on Twitter advertising are estimates. The firm bases its estimates on technologies that track ads on desktop browsers and the Twitter app as well as those that mimic user experience.But the company said those estimates do not account for deals advertisers may receive from Twitter, or promoted trends and accounts. "It is possible the spending data could be higher for some brands" if Twitter is offering incentives, Pathmatics said in an email.Twitter did not respond to multiple requests for comment. In a November event on Twitter Spaces, Musk, addressing the issue of companies pausing ads, said that he understands if advertisers "want to give it a minute." He added that "the best way to see how things are evolving (at Twitter) is just use Twitter."Technology-focused publication The Information, citing details shared by a top Twitter ad executive at a staff meeting on Wednesday, reported that Twitter's fourth quarter revenue fell about 35% year over year due to a slump in advertising. Twitter posted a loss of $270 million in the three months ended June 30, on total revenue of about $1.18 billion.The Pathmatics estimates show continued upheaval in Twitter's main revenue stream heading into 2023, led by a pullback from top consumer brands.Forward bookings, or agreements to lock in future ads, were also down for January and February, according to research firm Standard Media Index, which did not provide details.Twitter is moving to reverse the advertiser exodus. It has introduced a slew of initiatives to win back advertisers, offering some free ads, lifting a ban on political advertising and allowing companies greater control over the positioning of their ads."They're frankly really amazing incentives. Honestly, I've not seen that type of incentive ever from any advertiser," said Molly Lopez, owner of ad agency HITE Digital Miami.In addition, Mark DiMassimo, founder of New York-based ad agency DiMassimo Goldstein, said that "bargain basement" direct marketers and political action committees - big spenders on Meta Platform Inc's Facebook - may fill the advertising gap.Coca-Cola Co halted spending in mid November, after purchasing an estimated $1.1 million in Twitter ads earlier that month, while HBO spending collapsed to approximately $38,000 in December from roughly $1.1 million in November, Pathmatics found.Coca-Cola declined to comment. HBO spokesperson Chris Willard did not comment on the specifics of advertising spending, but said "we will be assessing the platform under its new leadership and determine appropriate next steps."Among consumer brands, Heinz ketchup maker Kraft Heinz Co and Stouffers meal manufacturer Nestle SA stopped all advertising, according to the Pathmatics estimates. Heinz and Nestle declined to comment.Mass retailer Target Corp and department store operator Kohls Corp also skipped advertising on Twitter on Black Friday, one of the biggest shopping days of the year, the estimates show. Kohls did not return requests for comment.However, Apple Inc and PepsiCo Inc increased spending, according to Pathmatics. Apple did not respond to requests for comment. PepsiCo declined to comment.Financial technology provider SmartAsset and Amazon.com Inc said Pathmatics estimates showing an increase in advertising were inaccurate. Amazon did not elaborate further and SmartAsset said the figures were "inflated" without giving details. Pathmatics said "we want to reiterate that our figures are just estimates." BRAND SAFETYMusk's arrival at Twitter exacerbated a drop in advertising that began in September after Reuters reported that promotions appeared alongside tweets soliciting child pornography.Most of the companies stopped spending in November, the estimates show, the same month that Musk restored suspended accounts and released a paid account verification that resulted in scammers impersonating corporations.Telecommunications company AT&T Inc and pet food provider Mars Inc slashed spending in September due to concerns about brand safety. As the companies pulled back on Twitter, they maintained and in some cases boosted advertising on Meta Platform Inc's Facebook and Instagram and on short video app TikTok, according to Pathmatics.Meta and TikTok did not immediately return requests for comment.GRAPHIC: Some advertisers cut spending or leave Twitter after Musk's takeover (https://www.reuters.com/graphics/TWITTER-ADVERTISERS/TWITTER-ADVERTISERS-SPENDING/dwpkdadqrvm/graphic.jpg)AT&T said it paused advertising in September because of "concerns around content appearing next" to its ads. The company has been talking to Twitter about its concerns, according to a person familiar with AT&T's thinking.Mars said its "suspension remains in effect."Twitter has said to Reuters it is investing in child safety. The platform is leaning on automation to moderate content and restrict abuse-prone hashtags and search results in areas including child exploitation.Companies also scaled back on tweeting. As of January 19, Target and Special K cereal maker Kellogg Co hadn't tweeted since October; Coca-Cola and electronics retailer Best Buy Co Inc paused tweeting in November, according to a Reuters review of the company's main feeds.Target, Best Buy and Kellogg did not return requests for comment. (Reporting by Jessica DiNapoli in New York and Richa Naidu in London; additional reporting by Sheila Dang in Dallas; Editing by Vanessa O'Connell and Suzanne Goldenberg)By Jessica DiNapoli and Richa Naidu \ No newline at end of file diff --git a/news/AMZN/2023.01.19/Netflix founder Reed Hastings stepping down as CEO to become executive chairman.txt b/news/AMZN/2023.01.19/Netflix founder Reed Hastings stepping down as CEO to become executive chairman.txt new file mode 100644 index 0000000000000000000000000000000000000000..c865e6d877904ec14386bae5895a3ca57aceb267 --- /dev/null +++ b/news/AMZN/2023.01.19/Netflix founder Reed Hastings stepping down as CEO to become executive chairman.txt @@ -0,0 +1,20 @@ +LOS ANGELES, Jan 19 (Reuters) - Netflix co-founder Reed +Hastings is stepping down as chief executive of the streaming +video pioneer but will remain at the company as executive +chairman, he announced on Thursday.Greg Peters, who was serving as chief operating officer and +chief product officer, will become co-CEO alongside Ted +Sarandos, Hastings said in a blog post.Hastings said he had been increasingly delegating management +to Peters and Sarandos for more than two years. Sarandos was +elevated to co-CEO in July 2020."It was a baptism by fire, given COVID and recent challenges +within our business," Hastings wrote."But they’ve both managed incredibly well, ensuring Netflix +continues to improve and developing a clear path to reaccelerate +our revenue and earnings growth. So the board and I believe it’s +the right time to complete my succession," he added.Netflix has been under pressure from restrained consumer +spending and competition from Walt Disney Co, Amazon.com +Inc and others spending billions of dollars to make TV +shows and movies for online audiences.In the first half of 2022, Netflix shocked Wall Street by +losing customers. The company returned to growth in the second +half.Hastings, 62, said he planned to work with Sarandos and +Hastings as executive chairman for "many years to come."Netflix also promoted Bela Bajaria to chief content officer. +(Reporting by Lisa Richwine and Dawn Chmielewski in Los Angeles +Editing by Kenneth Li and Matthew Lewis) \ No newline at end of file diff --git a/news/AMZN/2023.01.19/Reed Hastings steps down as Netflix CEO as company posts subscriber gains.txt b/news/AMZN/2023.01.19/Reed Hastings steps down as Netflix CEO as company posts subscriber gains.txt new file mode 100644 index 0000000000000000000000000000000000000000..509ac566786b1dab0808a126995662c92207e68f --- /dev/null +++ b/news/AMZN/2023.01.19/Reed Hastings steps down as Netflix CEO as company posts subscriber gains.txt @@ -0,0 +1 @@ +Sarandos and Peters will share the title of chief executives, with Hastings serving as executive chairman. The change is effective immediately, representing the culmination of a decade of succession planning by the board. Both Peters and Sarandos were promoted in July 2020, amid a challenging time for the company."It was a baptism by fire, given Covid and recent challenges within our business," Hastings wrote in a blog post announcing his departure. "But they've both managed incredibly well ... so the board and I believe it's the right time to compete my succession."Hastings makes his exit on a high note. Netflix reported it added 7.66 million subscribers in the fourth quarter, beating Wall Street forecasts of 4.57 million with help from "Harry & Meghan" and "Wednesday" in the battle to attract streaming television viewers.The streaming video pioneer has been under pressure from restrained consumer spending and competition from Walt Disney Co, Amazon.com Inc and others spending billions of dollars to make TV shows and movies for online audiences.Netflix lost customers in the first half of 2022. It returned to growth in the second half, but new customer additions remains below the pace of recent years. To kickstart growth, Netflix introduced a cheaper, ad-supported option last November in 12 countries. It also has announced plans to crack down on password sharing.The company's global subscriber base hit 231 million at the end of December. Audiences flocked to Addams family tale "Wednesday," the third-most watched show in Netflix history, the company said. Murder mystery "Glass Onion" and British royals documentary "Harry & Meghan" also were hits during the quarter.Net income fell to $55 million or 12 cents per share, from $607 million or $1.33 per share a year earlier. Revenue rose 1.9% to $7.85 billion, in line with expectations.Bela Bajaria, Netflix's head of global television, was named chief content officer. (Reporting by Lisa Richwine and Dawn Chmielewski in Los Angeles, and Eva Matthews in Bengaluru; Editing by Kenneth Li and Matthew Lewis)By Lisa Richwine and Dawn Chmielewski \ No newline at end of file diff --git a/news/AMZN/2023.01.19/U.S. union membership rate falls to all-time low despite organizing efforts, data shows.txt b/news/AMZN/2023.01.19/U.S. union membership rate falls to all-time low despite organizing efforts, data shows.txt new file mode 100644 index 0000000000000000000000000000000000000000..1f62e1589199d246d099c360a98162769d772cdf --- /dev/null +++ b/news/AMZN/2023.01.19/U.S. union membership rate falls to all-time low despite organizing efforts, data shows.txt @@ -0,0 +1 @@ +The union membership rate fell from 10.3% in 2021 to 10.1% in 2022, according to data released by the U.S. Bureau of Labor Statistics on Thursday.However, the number of wage and salary workers who are members of unions, at 14.3 million last year, increased by 273,000, or 1.9%, from 2021, the data showed. The total number of wage and salary workers grew by 5.3 million, or 3.9%, most of them non-union workers."This disproportionately large increase in the number of total wage and salary employment compared with the increase in the number of union members led to a decrease in the union membership rate," the Bureau of Labor Statistics said in a statement.The data released Thursday shows that while unionization efforts have come into the limelight, they have not translated into greater representation of the workforce. A surge in union organizing began during the COVID-19 pandemic in the U.S. and has included unprecedented efforts to unionize Amazon.com Inc warehouses, Starbucks cafes, Apple Inc retail stores and video game developers.In December, the National Labor Relations Board (NLRB), the agency that enforces U.S. labor laws, made it easier for unions to organize small groups of a company's workforce, a move that was expected to give them a key advantage in campaigns to unionize factories, warehouses, universities and other sprawling workplaces.The data on union membership is collected as part of the Current Population Survey, a monthly survey of about 60,000 eligible households that obtains information on employment and unemployment among the United States' civilian, non-institutional population age 16 and over. (Reporting by Kanishka Singh in Washington; editing by Paul Thomasch and Jonathan Oatis)By Kanishka Singh \ No newline at end of file diff --git a/news/AMZN/2023.01.19/U.S. weekly jobless claims unexpectedly fall.txt b/news/AMZN/2023.01.19/U.S. weekly jobless claims unexpectedly fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..61824b8171c5627efe439fb79a90396679219d05 --- /dev/null +++ b/news/AMZN/2023.01.19/U.S. weekly jobless claims unexpectedly fall.txt @@ -0,0 +1 @@ +Initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 190,000 for the week ended Jan. 14, the Labor Department said on Thursday. Economists polled by Reuters had forecast 214,000 claims for the latest week.Part of the surprise drop in claims likely reflected continuing challenges adjusting the data for seasonal fluctuations at the start of the year.Through the seasonal volatility, claims have remained at levels consistent with a tight labor market, even as layoffs have accelerated in the technology industry and interest rate-sensitive sectors like finance and housing. Microsoft Corp said on Wednesday it would eliminate 10,000 jobs, joining cloud-computing rival Amazon.com, which this month started notifying employees of its own 18,000-person job cuts. Economists cautioned against reading the technology layoffs as flagging a deterioration in labor market conditions, arguing that these companies were right-sizing after over-hiring during the COVID-19 pandemic."The tech sector is just getting back to where they were in 2020 or 2021, which I don't think is a bad situation," said John Blevins, a guest lecturer at Cornell's SC Johnson College of Business. "It's still a huge workforce. These people being let go at these major tech firms will get new replacement jobs almost immediately." Outside the technology industry, economists say companies are generally reluctant to send workers home after difficulties finding labor during the pandemic. They expect companies to cut back on hiring before resorting to layoffs. Indeed, the Federal Reserve's Beige Book on Wednesday reported that "many firms hesitated to lay off employees even as demand for their goods and services slowed and planned to reduce headcount through attrition if needed."The claims data covered the period during which the government surveyed businesses for the nonfarm payrolls component of January's employment report. Claims decreased between the December and January survey weeks. The economy added 223,000 jobs in January.Data next week on the number of people receiving benefits after an initial week of aid, a proxy for hiring, will shed more light on employment growth in January. In the week ending Jan 7, the so-called continuing claims rose 17,000 to 1.647 million, the claims report showed. (Reporting By Lucia Mutikani; Editing by Chizu Nomiyama) \ No newline at end of file diff --git a/news/AMZN/2023.01.19/US union membership rate hits all-time low despite campaigns.txt b/news/AMZN/2023.01.19/US union membership rate hits all-time low despite campaigns.txt new file mode 100644 index 0000000000000000000000000000000000000000..9bd58793d3bb1ddc223260bbd192d0c65fac4a1b --- /dev/null +++ b/news/AMZN/2023.01.19/US union membership rate hits all-time low despite campaigns.txt @@ -0,0 +1 @@ +The U.S. union membership rate reached an all-time low last year despite high-profile unionization campaigns at Starbucks, Amazon, Apple and other companies.Union members fell to 10.1% of the overall U.S. workforce, according to the Bureau of Labor Statistics. That was down slightly from 10.3% in 2021.The number of workers belonging to a union actually increased by 1.9% to 14.3 million. But that failed to keep pace with higher overall employment rates. The number of wage- and salary-earning workers rose by 3.9%, the government said.U.S. union membership has been falling steadily for decades. In 1983, the first year that comparable data is available, the union membership rate was 20.1%, the government said.Public-sector workers, like police and teachers, had the highest unionization rates last year, at 33%. Just 6% of private-sector workers were unionized.Automation, outsourcing and lower unionization rates in traditional union strongholds, like auto manufacturing, are among the reasons for the steady decline. But states have also chipped away at unions’ power. Twenty-seven states now have “right-to-work” laws, which prohibit a company and a union from signing a contract that requires workers to pay dues to the union that represents them.Despite those laws, support for unions has been growing. In a survey published in August, Gallup found that 71% of Americans said they approve of labor unions, the highest percentage recorded since 1965.There has been a surge in demand for union representation as the pandemic has eased. Labor shortages gave workers a rare upper hand, which they used to seek higher pay and benefits from their employers. Median weekly earnings for union workers are about 18% higher than those for nonunion workers, the government said.The National Labor Relations Board reported a 53% increase in union representation petitions in its 2022 fiscal year, which ended Sept. 30. A total of 2,510 petitions were filed with the agency, the highest number since 2016.Dan Cornfield, a sociology professor at Vanderbilt University who studies unions, noted that while unionization rates are declining in some sectors, like telecommunications and clothing manufacturing, they’re rising in others, including hospitality, the arts and entertainment. Younger workers are largely driving those efforts, he said.“Those actions and attitudes could portend a reversal of this long-term decline,” Cornfield said.Workers at more than 270 U.S. Starbucks stores have voted to unionize over the last year, an effort that Starbucks opposes. Workers at REI and Chipotle followed with their own unionization campaigns.Contract negotiations began last week at an Apple store in Maryland that voted to unionize last June. And workers at an Amazon warehouse in New York City voted to unionize last spring, although Amazon workers at a different warehouse in upstate New York later rejected unionization.New York and Hawaii have the highest unionization rates, while North Carolina and South Carolina have the lowest, according to the government's data. Men are slightly more likely to be union members than women. And Black workers are more likely to be union members than white, Hispanic or Asian workers.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.01.19/Wall St falls as labor market resilience spurs rate hike worries.txt b/news/AMZN/2023.01.19/Wall St falls as labor market resilience spurs rate hike worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..15c97fa533647db2baa93b2e6810d36f752d651b --- /dev/null +++ b/news/AMZN/2023.01.19/Wall St falls as labor market resilience spurs rate hike worries.txt @@ -0,0 +1,48 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Procter & Gamble falls, warns of commodity cost pressures*Netflix down ahead of quarterly results*Indexes down: Dow 0.68%, S&P 0.75%, Nasdaq 1.00%Jan 19 (Reuters) - U.S. stock indexes fell on Thursday +after data pointing to a tight labor market sparked worries that +the Federal Reserve will continue with its aggressive +rate-hiking cycle that could potentially tip the economy into a +recession.The Labor Department's report showed a surprise fall in U.S. +weekly jobless claims, highlighting labor market resilience in a +higher interest rate environment.The report did not change expectations that the Fed will +further scale back the size of its interest rate increases next +month, hopes of which were sparked by a slump in retail sales in +December and a retreat in inflation in the previous session.A separate survey of goods producers showed on Thursday +manufacturing activity in the mid-Atlantic region softened again +in January, while data from the Commerce Department confirmed +that the downturn in the housing market persisted."One of the pieces of data that continues to be a conundrum +for the Fed is the tight labor market," said Art Hogan, chief +market strategist at B. Riley in New York."There's virtually no signs of any weakness in the labor +market and that's one of the things the Fed's been leaning +against to keep rates higher for longer."Comments from Fed officials continue to highlight the +disparity between the central bank's estimate of its terminal +rate and market expectations.Boston Fed President Susan Collins joined a chorus of +policymakers to back the case for interest rates to rise beyond +5%.Markets, on the other hand, expect the terminal rate at +4.89% by June and have priced in a 25-basis point rate hike from +the U.S. central bank in February..The S&P 500 and the Dow Jones Industrial Average +are now headed for their third straight day of declines.The challenging economic environment has dealt a blow to +corporate America, with companies such as Microsoft Corp +and Amazon.com Inc announcing plans to cut +thousands of jobs.Shares of both the companies fell around 2%, and were among +the top drags to the benchmark S&P 500 and Nasdaq +indexes.Industrial and consumer discretionary stocks +were among the leading decliners on the S&P 500, down +1.5% and 1.7%, respectively.Procter & Gamble Co fell 0.8% after warning of +commodity costs pressuring profits, despite raising its +full-year sales forecast.Analysts now expect year-over-year earnings from S&P 500 +companies to decline 2.8% for the fourth quarter, according to +Refinitiv data, compared with a 1.6% decline in the beginning of +the year.At 12:21 p.m. ET the Dow Jones Industrial Average was +down 224.90 points, or 0.68%, at 33,072.06, the S&P 500 +was down 29.38 points, or 0.75%, at 3,899.48 and the Nasdaq +Composite was down 109.91 points, or 1.00%, at +10,847.10.Netflix Inc is expected to report its slowest +quarterly revenue growth later on Thursday. The company's shares +fell 1.6%.Declining issues outnumbered advancers for a 2.09-to-1 ratio +on the NYSE and a 2.10-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week high and two new +lows, while the Nasdaq recorded 28 new highs and 27 new lows. +(Reporting by Amruta Khandekar and Shreyashi Sanyal in +Bengaluru; Additional reporting by Shubham Batra; Editing by +Shounak Dasgupta) \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI.txt b/news/AMZN/2023.01.20/Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI.txt new file mode 100644 index 0000000000000000000000000000000000000000..d5ec0e4f311e0fed5e822cf51f2efe15ed2c0c60 --- /dev/null +++ b/news/AMZN/2023.01.20/Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI.txt @@ -0,0 +1,64 @@ +Jan 20 (Reuters) - Google's parent Alphabet Inc +is cutting about 12,000 jobs as it faces "a different +economic reality", it said in a staff memo, doubling down on +artificial intelligence (AI) and axing staff who support +experimental projects.The job cuts affect 6% of its workforce, and follows +thousands of layoffs at tech giants including Amazon.com Inc +, Microsoft Corp and Meta Platforms Inc +who are downsizing after a pandemic-led hiring spree +left them flabby in a weak economy.Shares in Mountain View, California-based Alphabet, which +boosted its workforce by nearly a third through 2020 and 2021, +rose 4% on Friday. They had fallen 30% in the past 12 months, +echoing a 24% slump in the broader tech industry.Sundar Pichai, Alphabet's boss since 2019, said in the memo +on Friday that he took "full responsibility" for the decisions +that led to the layoffs.Pichai, whose pay was recently tied more closely to +performance, said this was a moment to "sharpen our focus, +reengineer our cost base and direct our talent and capital to +our highest priorities," as Alphabet looked to get imbue its +products with more AI, echoing comments from Microsoft that +announced job cuts on Wednesday.Alphabet, long a leader in AI, is facing competition +from Microsoft, which is reportedly looking to boost its stake +in ChatGPT - a promising chatbot that answers queries with +human-like responses.Advertising dollars, Alphabet's mainstay revenue source, +meanwhile, is feeling the squeeze from businesses chopping +budgets as consumers pull back spending."It is clear that Alphabet is not immune from the tough +economic backdrop, with worries about a U.S. recession growing," +said Susannah Streeter, an analyst at Hargreaves Lansdown."Ad growth has come off the boil ... Competition is also +heating up, with Alphabet facing a powerful rival in TikTok, and +Instagram also vying for its important YouTube viewers," +Streeter said, noting that Alphabet has also racked up billions +in regulatory fines.Evercore ISIS analyst Mark Mahaney said Alphabet's +record-high headcount had created major margin risk going into +fiscal 2023 and Bernstein analyst Mark Shmulik said the job cuts +could save the company Alphabet $2.5 billion to $3 billion in +costs.BIG JOB CUTSWith Alphabet's staff cuts, layoffs at four of the biggest +U.S. tech companies total 51,000 jobs in the past few months. +They have fanned fears of a recession even as the U.S. job +market remains tight."The tech sector is bit like the proverbial canary in the +coal mine," said Stuart Cole, an economist at Equiti Capital, +who believes the tech layoffs portend that the outlook for job +security is finally beginning to turn more negative.Apple, which hired more prudently through the +pandemic, has held off on cuts so far. On Friday, though, +website AppleInsider reported citing sources that the iPhone +maker had started to lay off non-seasonal employees in its +retail channel in places such as Best Buy stores.Apple was not immediately available for a comment on the +report.'LITTLE COMFORT'Alphabet has been working on a major AI launch, two people +familiar with the matter told Reuters. One of the sources said +it would take place in the spring. The New York Times also +reported that Google planned to unveil more than 20 new products +and a search engine including chatbot features.Among those losing their jobs are recruiters, corporate +staff and people working on engineering and product teams, +Pichai said. Google has cut most jobs at Area 120, its in-house +incubator for new projects, a company spokesperson told Reuters.The Alphabet Workers Union said in a statement that the +company's leadership taking "full responsibility" was "little +comfort.""It's appalling that our jobs are first on the chopping +block so shareholders can see a few more points in a chart next +quarter," the union said.In the United States, where Alphabet has already emailed +affected employees, staff would receive severance and six months +of healthcare as well as immigration support.Overseas, layoff notifications will take longer due to local +employment laws and practices, Pichai said in the memo. +Employees in Asia will learn starting in February if the +reduction impacts them.(Reporting by Jeffrey Dastin in Davos, Switzerland, Akash +Sriram, Deep Vakil, Chavi Mehta, Tiyashi Dutta, Nivedita Balu +and Yuvraj Malik in Bengaluru; Editing by Elaine Hardcastle, +Alexander Smith, Nick Zieminski, Sayantani Ghosh) \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Amazon's AWS to invest $35 billion in Virginia.txt b/news/AMZN/2023.01.20/Amazon's AWS to invest $35 billion in Virginia.txt new file mode 100644 index 0000000000000000000000000000000000000000..038af81d9e4961527edce91208b1993c683ca231 --- /dev/null +++ b/news/AMZN/2023.01.20/Amazon's AWS to invest $35 billion in Virginia.txt @@ -0,0 +1 @@ +Amazon Web Services (AWS) said the new investment will create 1,000 jobs. Virginia Republican Governor Glenn Youngkin said AWS will establish multiple data center campuses across Virginia.In 2021, AWS said from 2011 to 2020 it had invested $35 billion in data centers located in northern Virginia and had 3,500 full time employees at its data centers in the state.Pending approval by state lawmakers, Virginia is developing a new "Mega Data Center Incentive Program," which would allow the company to receive up to a 15-year extension of Data Center Sales and Use tax exemptions on equipment and software.AWS also will be eligible to receive a state grant of up to $140 million "for site and infrastructure improvements, workforce development, and other project-related costs."Amazon in 2018 after a long contest announced northern Virginia would be home to its second headquarters known as "HQ2" and eventually employ more than 25,000 employees. As of April, Amazon said its headcount assigned to the site was around 5,000.Youngkin has faced some criticism for withdrawing from a competition to attract a new Ford Motor battery plant expected to be built with China's Contemporary Amperex Technology Co Ltd CATL.A spokesperson for Youngkin said earlier this week "while Ford is an iconic American company, it became clear that this proposal would serve as a front for the Chinese Communist party, which could comprise our economic security and Virginians' personal privacy."Ford declined to comment on Youngkin's comments or the status of the planned facility or its talks with CATL, but in July said it plans to localize 40 GWh of battery capacity in North America starting in 2026. (Reporting by David Shepardson and Akash Sriram in Bengaluru; Editing by Maju Samuel and Aurora Ellis)By David Shepardson \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Analysis-Tesla's price cuts promise more pain for money-losing U.S. EV startups.txt b/news/AMZN/2023.01.20/Analysis-Tesla's price cuts promise more pain for money-losing U.S. EV startups.txt new file mode 100644 index 0000000000000000000000000000000000000000..5983087a268a998e8919f2d7342edebbf1d17292 --- /dev/null +++ b/news/AMZN/2023.01.20/Analysis-Tesla's price cuts promise more pain for money-losing U.S. EV startups.txt @@ -0,0 +1 @@ +Tesla's move last week to slash prices globally on its EVs by as much as 20% could draw new buyers to electric cars in the industry, but also will force other automakers to respond with lower prices or risk getting left behind, analysts and investors said.Some startups may not be able to afford lower prices as they struggle with staggering raw material and production costs combined with far lower output than the Elon Musk-led Tesla, which delivered more than 1.3 million vehicles last year.Tesla's move will "strengthen their ... competitive advantage over other automakers," CFRA Research analyst Garrett Nelson said.The struggles of most startups are a far cry from their initial public offerings over the past few years, when investors believed these companies would take over the EV market and echo the heady valuation Tesla has sported in the past.'GAME OF THRONES' FOR EV STARTUPSBoth Rivian and Lucid have yet to turn a profit. Together they delivered more than 24,000 cars last year, with Rivian spending more money on making each car than the selling price of that vehicle. The company's cost of goods sold was about 2.7 times its revenue in the last reported quarter, while Lucid's cost of revenue was about 2.5 times its sales.Still, Rivian had $13.8 billion in cash at the end of the third quarter - the most among the U.S. EV startups. Lucid had the second-highest cash reserves with $1.26 billion, and it raised another $1.52 billion in the fourth quarter. That gives the companies a sizeable production runway at a time peers Faraday Future and British EV startup Arrival have been seeking funding and have warned they might not be able to sustain operations through 2023."It's a 'Game of Thrones' battle for EV startups and they face some dire options over the next 12 to 18 months if they do not succeed in their financial targets," said Wedbush Securities analyst Daniel Ives. "We would expect some ... losers that face the prospect of consolidation or possibly worse on the horizon."A clearer picture of their balance sheets is expected when these companies report fourth-quarter earnings.Rivian declined to comment, while Lucid did not respond to a request for comment.Lucid aims to target the luxury and sport-luxury sedan segment of the EV market, with its cars starting at over $87,000, which is $8,000 less than the base version of Tesla's Model S sedan after the January discounts. Lucid, headed by former Tesla executive Peter Rawlinson, has not announced plans for a mass-market car to rival Tesla's Model 3 and Model Y, which start at about $44,000 and $53,000, respectively. Rivian sells its R1T pickup truck at a starting price of $73,000 while its R1S SUV starts at $78,000.The company, whose largest shareholder is Amazon.com Inc, does not plan on selling cheaper cars that it will build on a next-generation R2 platform before 2026. The platform will support higher volumes and be less expensive than the vehicles built on the R1 platform, Rivian says. Tesla's price cuts come just months after contract manufacturer Magna Steyr began production of Fisker's Ocean SUV, which starts at $37,499 and makes it more vulnerable, analysts said. Fisker declined to comment. Lordstown Motors, which in May sold a significant chunk of its assets to contract manufacturer Foxconn to raise funds, said its Endurance pickup targets the commercial fleet market only. (Reporting by Akash Sriram in Bengaluru, Writing by Aditya Soni; Editing by Ben Klayman and Matthew Lewis)By Akash Sriram \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Google axes 12,000 jobs, layoffs spread across tech sector.txt b/news/AMZN/2023.01.20/Google axes 12,000 jobs, layoffs spread across tech sector.txt new file mode 100644 index 0000000000000000000000000000000000000000..121794157206ed77dd3c5432c108060a08beadec --- /dev/null +++ b/news/AMZN/2023.01.20/Google axes 12,000 jobs, layoffs spread across tech sector.txt @@ -0,0 +1 @@ +LONDON (AP) — Google is laying off 12,000 workers, or about 6% of its workforce, becoming the latest tech company to trim staff as the economic boom that the industry rode during the COVID-19 pandemic ebbs.Google CEO Sundar Pichai, who also leads its parent company Alphabet, informed staff Friday at the Silicon Valley giant about the cuts in an email that was also posted on the company's news blog.It is the company's biggest-ever round of layoffs and adds to tens of thousands of other job losses recently announced by Microsoft, Amazon, Facebook parent Meta and other tech companies as they tighten their belts amid a darkening outlook for the industry. Just this month, there have been at least 48,000 job cuts announced by major companies in the sector.“Over the past two years we’ve seen periods of dramatic growth,” Pichai wrote. “To match and fuel that growth, we hired for a different economic reality than the one we face today.”He said the layoffs reflect a “rigorous review" carried out by Google of its operations.The jobs being eliminated “cut across Alphabet, product areas, functions, levels and regions,” Pichai said. He said he was “deeply sorry” for the layoffs.Regulatory filings illustrate how Google’s workforce swelled during the pandemic, ballooning to nearly 187,000 people by late last year from 119,000 at the end of 2019.Pichai said that Google, founded nearly a quarter of a century ago, was “bound to go through difficult economic cycles.”“These are important moments to sharpen our focus, reengineer our cost base, and direct our talent and capital to our highest priorities,” he wrote. He called out the company's investments in artificial intelligence as an area of opportunity.There will be job cuts in the U.S. and in other unspecified countries, according to Pichai’s letter.Tech companies that “not long ago were the darlings of the stock market” have been forced to freeze hiring and cut jobs in preparation for an economic downturn, said a note from Victoria Scholar, an analyst with U.K.-based Interactive Investment.“Digital spending is suffering, and ad revenues are falling with it,” she wrote.Just this week, Microsoft announced 10,000 job cuts, or nearly 5% of its workforce. Amazon said this month it is cutting 18,000 jobs, although that's a fraction of its 1.5 million strong workforce, while business software maker Salesforce is laying off about 8,000 employees, or 10% of the total. Last fall Facebook parent Meta announced it would shed 11,000 positions, or 13% of its workers. Elon Musk slashed jobs at Twitter after after he acquired the social media company last fall.Those job cuts are hitting smaller players as well. U.K.-based cybersecurity firm Sophos laid off 450 employees, or 10% of its global workforce. Cryptocurrency trading platform Coinbase cut 20% of its workforce, about 950 jobs, in its second round of layoffs in less than a year.Employment in the U.S. has been resilient despite signs of a slowing economy, and there were another 223,000 jobs added in December. Yet the tech sector grew exceptionally fast over the last several years due to increased demand as employees began to work remotely.CEOs of a number of companies have taken blame for growing too fast, yet those same companies, even after the latest round of job cuts, remain much larger than they were before the economic boom from the pandemic began.“I take full responsibility for the decisions that led us here,” Pichai wrote.While the tech layoffs are “shocking numbers,” their effect on tech industry employment is “nowhere near as bad as what it seems,” said John Blevins, an adjunct professor at Cornell University's business school.“These workers who were laid off will readily get new jobs,” most likely at smaller tech companies, Blevins said. “They’re coming with high credentials from these big firms. That knowledge will be transferred and will actually work to everyone’s benefit.”In their layoff announcements, both Pichai and Microsoft CEO Satya Nadella emphasized the importance of capitalizing on their advances in artificial intelligence technology, reflecting renewed competition between the tech giants sparked by Microsoft's growing partnership with the San Francisco startup OpenAI.—-AP Technology Writers Matt O'Brien and Michael Liedtke contributed to this report.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Investors no longer listen to central banks.txt b/news/AMZN/2023.01.20/Investors no longer listen to central banks.txt new file mode 100644 index 0000000000000000000000000000000000000000..83a58415ae807b65f86a152fa55fdc91d7f1e7e8 --- /dev/null +++ b/news/AMZN/2023.01.20/Investors no longer listen to central banks.txt @@ -0,0 +1,36 @@ + +But we start this morning with an anniversary, that of American presidents. January 20th is indeed the day when the presidents of the United States of America start their term of office, according to the XXth amendment of the American constitution, dating from 1937. Based on this measure, Joe Biden's term has two years left, with some worries about the debt ceiling. To put it simply, the US debt is large and constantly growing, the maximum amount of which has been set for more than a century by Congress. As a result, Congressmen have to vote regularly to raise it. This is not really a concern when the houses are controlled by the party that occupies the White House, but it becomes a concern in the event of power sharing, as is currently the case. Raising the ceiling is then the subject of intense negotiations, since it is a powerful political lever: if the United States can no longer borrow, it can no longer honor some of its obligations. In the past, there have been some memorable standoffs. They have been a source of volatility on markets, even though they have always led to compromise... + +This comes after the publication of statistics on Wednesday that have raised fears of a harder-than-expected economic landing. The Nasdaq lost 1% after having already given up 1.3% the day before and the S&P500 fell -0.8%, for a third session in the red. The US broad index, at the doorstep of 3900 points, is now down only 1.5% in 2023. For your information, the average of the expectations of 23 big names in finance is 4079 points for the S&P500 next December 31 (according to forecasts compiled by François Trahan). That's 4.6% of potential growth from the 3900 points touched last night. Projections range from 3,400 points for those big pessimists at BNP, to 4,750 points for the unicorns and rainbows at Fundstrat. However, there is little point in fiddling with strategies based on these, since the stars of the market are just as complacent as the average equity fan. In other words, this kind of forecasting doesn't work very well, except when markets are only going up. At the end of 2021, Goldman Sachs was telling its clients that the S&P500 would hit 5100 points by the end of 2022. JPMorgan Chase, in a prudent move, was content with 5050 points. As a result, instead of the 6 to 7% increase predicted by these two major Wall Street institutions, the S&P500 fell 19.4% last year. +What else happened in the world yesterday? Central bankers continued to make tough speeches about monetary policy, trying to convince investors who do not believe them that they have not changed course. This was the case with Fed Vice Chair Lael Brainard. As for Japan, it recorded inflation in December at 4%, the highest level since 1981. A level in line with expectations but which continues to question the BoJ's ultra-accommodating policy. Faced with these cautious signals, investors are focusing on the return of growth in China. This has allowed oil to move forward again and Hong Kong to wake up for the last session of the week. They will have time to meditate on the Chinese dynamics in a calm environment, since the country's markets will be closed for the Lunar New Year from Monday. Hong Kong will be closed on Monday, Tuesday and Wednesday, while Shanghai and Shenzhen will be closed all next week. +  +Economic highlights of the day: +US housing data for December is today's main indicator. All the agenda is here. Last night, Japan announced a 4% inflation in December, the highest recorded since 1981. +The dollar is up to EUR 0.9251 and GBP 0.8099. The ounce of gold is worth USD 1925. Oil rallied, with North Sea Brent crude at USD 86.54 a barrel and U.S. light crude WTI at USD 80.95. The yield on 10-year U.S. debt rebounded to 3.41%. Bitcoin is back below USD 21,000. +  +In corporate news: +* Netflix - The co-founder of the online video service, Reed Hastings, announced Thursday that he was stepping down as chief executive, handing the reins to a duo of his deputy and chief operating officer, following the release of the group's results that showed a better-than-expected quarterly subscriber gain. The share price climbed 6.2% in pre-market trading. +* Alphabet will cut 12,000 jobs, its chief executive said in a note to employees seen by Reuters. The stock rose 1.7% in premarket trading. +* Nordstrom lowered its annual profit forecast on Thursday after reporting weak sales during the Christmas season at its Rack discount stores despite heavy promotions and discounts. The stock is down 3.7% in pre-market trading. +* Schlumberger is up 1.5% in premarket trading after fourth-quarter earnings beat Wall Street expectations, driven by strong demand for drilling services and equipment. +* Amazon announced Thursday that it plans to raise prices on some of its music subscription plans starting in February. +* T-Mobile US - The third-largest wireless carrier by subscribers in the U.S. said Thursday it is investigating a flaw in its systems involving 37 million postpaid and prepaid accounts that could expose it to significant charges. The stock is down 2.4% in pre-market trading. +* Intel - Italy is just one of several possible destinations for Intel's new chip plant, and a decision is expected by the end of the year, the company's chief executive, Pat Gelsinger, told Italian daily Corriere della Sera on Friday. +* Texas Instruments announced on Thursday that its CEO Rich Templeton will leave the company in April and be replaced by current deputy CEO Haviv Ilan in a difficult context for the chipmaker amid declining demand in the sector. +* Eli Lilly announced Thursday that the U.S. Food and Drug Administration (FDA) had rejected an accelerated approval for its experimental Alzheimer's treatment due to insufficient clinical trial data. In pre-market trading, Eli Lilly's stock is down 1.1% while its rival BIOGEN is up 1.02%. +* Ally Financial jumped 9.9% after better-than-expected fourth-quarter adjusted operating income and revenue. +* JPMorgan on Thursday got the green light from Chinese authorities to expand its operations in the country as Beijing seeks to boost foreign business confidence after the lifting of the "zero COVID" policy. +  +Analyst recommendations: + +3i Infrastructure: Jefferies upgrades from hold to buy targeting GBp 333. +AIG: BMO Capital Markets initiated coverage with a recommendation of market perform. PT set to $64. +American Financial: BMO Capital Markets initiated coverage with a recommendation of market perform. PT set to $155. +Chubb: BMO Capital Markets initiated coverage with a recommendation of market perform. PT set to $225. +LCI Industries: Jefferies cut its recommendation to hold from buy. PT down 11% to $95. +Marsh & McLennan: BMO Capital Markets initiated coverage with a recommendation of market perform. PT set to $168. +Netflix: Jefferies has maintained its recommendation on the stock with a Buy rating. Previously set at USD 385, the target price has been raised to USD 400. +Regeneron: J.P. Morgan upgrades to overweight from neutral. PT up 19% to $850. +Virgin Money UK: Deutsche Bank downgrades from buy to hold, targeting GBp 220. +Wizz Air: Oddo BHF downgrades from Outperform to Neutral, targeting GBp 3140. + diff --git a/news/AMZN/2023.01.20/Mirriad Advertising shares rise as mulls formal sales process.txt b/news/AMZN/2023.01.20/Mirriad Advertising shares rise as mulls formal sales process.txt new file mode 100644 index 0000000000000000000000000000000000000000..be40b9c1872de48e335c32f7062d941d378fb85d --- /dev/null +++ b/news/AMZN/2023.01.20/Mirriad Advertising shares rise as mulls formal sales process.txt @@ -0,0 +1 @@ +(Alliance News) - Mirriad Advertising PLC on Friday said it is considering launching a formal sales process as it is conducting a formal strategic review, viewing itself as "significantly undervalued", as it underlined a pivot to the US from China.Mirriad Advertising shares rose 9.9% to 5.00 pence each in London on Friday morning.Mirriad Advertising is a London-based advertising technology company, which provides customers with an artificial-intelligence powered platform that inserts products and signage formats after content is produced.Explaining its strategic review, the company said: "Based on the announcements made by Amazon and NBCU at the US advertising 'upfronts' in May 2022, Mirriad expects that further major companies will enter the in-content arena, and that they will make similar announcements at the US advertising 'upfronts' in 2023. The company believes that ultimately this will lead to an industry-wide development and adoption of in-content advertising as a new advertising format."Mirriad has been developing the market for in-content advertising in the US since 2020. The company noted that it has not received any potential offer and is not in discussions with any potential offeror. Options other than being acquired include raising additional capital and seeking a strategic partner.Mirriad confirmed that revenue in 2022 was GBP1.5 million, down 25% from GBP2.0 million in 2021. "Revenues have firmly pivoted from China to the US over the last two years, with US revenue increasing from 14% of total revenue for FY 2020, to 44% in FY 2021 and 78% in FY 2022," the company noted. Cash and cash equivalents as at December 31, 2022 fell to GBP11.3 million, better than anticipated, from GBP24.5 million a year ago.Mirriad aims to deliver the majority of GBP2.5 million planned annualised cost savings in 2023.By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Nasdaq eyes higher open on Netflix boost.txt b/news/AMZN/2023.01.20/Nasdaq eyes higher open on Netflix boost.txt new file mode 100644 index 0000000000000000000000000000000000000000..f756adfe466692ff156af7c074ebf77f684d5c42 --- /dev/null +++ b/news/AMZN/2023.01.20/Nasdaq eyes higher open on Netflix boost.txt @@ -0,0 +1 @@ +Shares of Netflix Inc jumped 6.6% in premarket trading, after the streaming company added more subscribers than expected in the fourth quarter and said co-founder Reed Hastings was stepping down as chief executive.Netflix's quarterly update comes as the technology sector faces gloomy prospects due to rising interest rates and economic worries that have forced companies such as Microsoft Corp and Amazon.com Inc to lay off thousands of employees.Alphabet Inc was the latest to join the list as it said it was cutting 12,000 jobs on Friday. The company's shares rose 3.5%."While Netflix did really well and that's very promising, it's actually going to be one of the toughest earnings season for Big Tech," said Sylvia Jablonski, chief investment officer of Defiance ETFs."And we already have some insight into that because a lot of them have been coming out with massive layoffs."Wall Street's main indexes ended the previous session lower after resilient labor market data renewed concerns the Federal Reserve would continue its aggressive rate-hiking cycle that could tip the economy into a recession.Recent commentary from Fed officials has pointed to a terminal rate above 5%, while money market participants still bet rates peaking at 4.9% by June and see a 93.7% chance for a 25-basis point rate hike in February."We had encouraging data which showed inflationary pressures falling, which suggests the Fed may not have to tighten as far or as aggressively. That is good for equities generally, but if we're going to get a mild recession, that's not good for earnings," said Stuart Cole, Equiti Capital's head macroeconomist.At 8:29 a.m. ET, Dow e-minis were down 10 points, or 0.03%, S&P 500 e-minis were up 9 points, or 0.23%, and Nasdaq 100 e-minis were up 77.25 points, or 0.68%.SLB rose 0.5% after the oilfield services firm beat Wall Street estimates for fourth-quarter profit.The S&P 500 has lost 2.5% so far in the week and the Nasdaq is down more than 2%. The Dow is down 3.7% and is on track for its worst week since September.Investors will monitor existing home sales data, which is expected to show a moderation in December. The report is due at 10 a.m. ET.Also on the radar are comments from Philadelphia Fed President Patrick Harker and Fed Governor Christopher Waller. (Reporting by Shreyashi Sanyal and Amruta Khandekar; Additional reporting by Shubham Batra in Bengaluru; Editing by Anil D'Silva and Shounak Dasgupta)By Shreyashi Sanyal and Amruta Khandekar \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Nasdaq futures rise on Netflix boost.txt b/news/AMZN/2023.01.20/Nasdaq futures rise on Netflix boost.txt new file mode 100644 index 0000000000000000000000000000000000000000..8c813ffcb90b343cee91623439e896259aae93b7 --- /dev/null +++ b/news/AMZN/2023.01.20/Nasdaq futures rise on Netflix boost.txt @@ -0,0 +1,38 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Futures: Nasdaq up 0.38%, S&P up 0.11%, Dow flatJan 20 (Reuters) - Nasdaq futures rose on Friday, after +Netflix kicked off the earnings season for the growth sector on +a positive note, but worries about a U.S. recession kept a lid +on sentiment.Shares of Netflix Inc jumped 5.7% in premarket +trading, after the streaming company added more subscribers than +expected in the fourth quarter and said co-founder Reed Hastings +was stepping down as chief executive.Netflix's quarterly update comes as the technology sector +faces gloomy prospects due to rising interest rates and economic +worries that have forced companies such as Microsoft Corp +and Amazon.com Inc to lay off thousands of +employees.Alphabet Inc was the latest to join the list as it +said it was cutting 12,000 jobs on Friday. Shares of the company +rose 1.7%.Wall Street's main indexes ended the previous session lower +after resilient labor market data renewed concerns the Federal +Reserve would continue its aggressive rate-hiking cycle that +could tip the economy into a recession.Recent commentary from various Fed officials has pointed to +a terminal rate above 5%, while the money market participants +still bet rates peaking at 4.9% by June and see a 93.7% chance +for a 25-basis point rate hike in February."We had encouraging data which showed inflationary pressures +falling, which suggests that the Fed may not have to tighten as +far or as aggressively. That is good for equities generally, but +if we're going to get a mild recession, that's not good for +earnings," said Stuart Cole, Equiti Capital's head +macroeconomist."Overall we're just seeing uncertainty being reflected in +the kind of mixed message we're getting from futures this +morning."On the earnings front, State Street Corp and Ally +Financial Inc will report their fourth-quarter results +later in the day.At 6:06 a.m. ET, Dow e-minis were down 7 points, or +0.02%, S&P 500 e-minis were up 4.5 points, or 0.11%, and +Nasdaq 100 e-minis were up 43.5 points, or 0.38%.The S&P 500 has lost 2.5% so far in the week and the +Nasdaq is down more than 2%. The Dow is down +3.67% and is on track for its worst week since September.Investors will monitor existing home sales data, which is +expected to show a moderation in the sales of existing homes in +December. The report is due at 10 a.m. ET.Also on the radar are comments from Philadelphia Fed +President Patrick Harker and Board Governor Christopher Waller. +(Reporting by Shreyashi Sanyal and Shubham Batra in Bengaluru; +Editing by Anil D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Netflix's ability to churn out hits gives it an edge over rivals -analysts.txt b/news/AMZN/2023.01.20/Netflix's ability to churn out hits gives it an edge over rivals -analysts.txt new file mode 100644 index 0000000000000000000000000000000000000000..670b9ae92282f483e476891469bd16438a2ecd80 --- /dev/null +++ b/news/AMZN/2023.01.20/Netflix's ability to churn out hits gives it an edge over rivals -analysts.txt @@ -0,0 +1 @@ +Shares of the streaming pioneer surged nearly 6% on Friday as its fourth-quarter earnings report showed the company was coping well with weakening consumer sentiment and competition from Walt Disney Co and Amazon.com Inc.At least 18 brokerages raised their price targets on the stock as they cheered Netflix's 7.66 million subscribers additions that easily beat estimates of 4.57 million.The result was driven by some of the company's strongest content slate, including the "Addams Family" spin-off "Wednesday" - its third most watched TV show on record - and murder mystery "Glass Onion" - its fourth most popular movie. "Content performance is underpinning all aspects of financial improvement and helps investors sleep better," Wells Fargo analysts said, adding that double-digit revenue growth could be achievable in the second half of the year.That outlook, which was also mirrored by other brokerages, stems from positive signs for the ad-supported plan and a crackdown on password-sharing that Netflix says will get more revenue out of the 100 million people who use the service without paying for it.The company said it would roll out features this quarter to try and convert more password sharers to paying subscriber. "This will not be a universally popular move," said Greg Peters, who was promoted to co-CEO along with Ted Sarandos after Reed Hastings decided to move to the role of executive chairman.But the company expects increased engagement and monetization after a short period of churn."Netflix's move to launch ad supported and monetize the 100M (million) households effectively using the service outside of core subscriber households likely means ... they are likely to have solid results for at least the rest of '23," said Jeff Wlodarczak, an analyst with Pivotal Research Group. (Reporting by Aditya Soni, Tiyashi Datta and Eva Mathews in Bengaluru; Editing by Anil D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.01.20/U.S. consumer staples stocks limp after solid performance in 2022.txt b/news/AMZN/2023.01.20/U.S. consumer staples stocks limp after solid performance in 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d0c9f4f7dc43b5df2016107af9c84d051076143 --- /dev/null +++ b/news/AMZN/2023.01.20/U.S. consumer staples stocks limp after solid performance in 2022.txt @@ -0,0 +1 @@ +The S&P 500 consumer staple sector, along with other bond proxies including real estate and utilities, outperformed the broader market in 2022 amid recession fears, as investors sought shelter in dividend-paying companies.In a reversal of the trend, consumer staples sector has shed 3.4% in 2023, the most among the major S&P sectors, while the S&P 500 has climbed 1.5% on easing bets of a severe economic downturn."Fundamentally, investors are starting to recognize the valuation of staples as a whole, which trade at a 25% premium to historical averages," said David Wagner, portfolio manager at Aptus Capital Advisors LLC."You couple this with the fact that there are other yield alternatives now relative to the yield-rich sector of staples."Rising interest rates have lured investors towards robust payouts in U.S. government bonds for the first time in nearly a decade.The U.S. 10-year Treasury yield stands at 3.4%, while the consumer staples sector is offering a dividend yield of 2.7%, according to Refinitiv data.Consumer companies, which witnessed soaring demand for groceries and cleaning supplies during the peak of the pandemic, are now battling a triple whammy of low sales volumes, high input costs and a stronger dollar, as evidenced by results from Procter & Gamble Co on Thursday.The bellwether for consumer products companies warned of profit pressures due to high commodity prices, as well as inflation-weary shoppers cutting back.U.S. economic data showed retail sales and producer prices declined more than expected in December.Quarterly reports from Coca-Cola Co, PepsiCo Inc, Colgate Palmolive Co, Kimberly-Clark Corp, Kellogg Co and Hershey Co in the coming weeks will shed more light on the health of the sector and set the tone for its performance during the year.Investors have also piled into rate-sensitive tech and growth stocks, which were clobbered in 2022. Communication services index that houses Meta Platforms and Alphabet Inc, and consumer discretionary that includes Amazon.com are leading gains in 2023. "Large and small tech which were obliterated in 2022 could certainly be a bright spot in 2023 as they were way, way oversold," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. (Reporting by Medha Singh in Bengaluru; additional reporting by Ankika Biswas and Uday Sampath; Editing by Shinjini Ganguli)By Medha Singh \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Virginia, Amazon announce $35 billion data center plan.txt b/news/AMZN/2023.01.20/Virginia, Amazon announce $35 billion data center plan.txt new file mode 100644 index 0000000000000000000000000000000000000000..e16f5b476fe19a557d72b62412c7d1e979a84f19 --- /dev/null +++ b/news/AMZN/2023.01.20/Virginia, Amazon announce $35 billion data center plan.txt @@ -0,0 +1 @@ +ALEXANDRIA, Va. (AP) — Amazon Web Services plans to invest $35 billion in new data centers in Virginia under a deal with the state, Gov. Glenn Youngkin announced Friday.Millions of dollars in incentives to close the deal still require legislative approval, but General Assembly leaders in both parties expressed support in a news release issued by Youngkin’s office.Still, data centers have become a politically volatile topic, particularly in northern Virginia, where the structures are increasingly common and where neighbors are voicing noise and environmental concerns.Data centers house the computer servers and hardware required to support modern internet use, and demand continues to increase. But the data centers require high-powered fans and extensive cooling capacity that can generate noise. They also consume huge amounts of electricity that can require construction of high-voltage transmission lines to support them.Bills proposed in the legislature this year would increase regulate where centers could be located.The governor’s office said the locations of the data centers, to be built by 2040, will be determined at a later date. But tech companies prefer northern Virginia because it is close to the historical backbone of the internet, and proximity to those connection points provides nanoseconds of advantage that are of importance to tech companies that rely on the servers to support financial transactions, gaming technology and other time-sensitive applications.Bill Wright, a Prince William County resident who opposed a massive data center expansion recently approved by the county’s Board of Supervisors over considerable community opposition, said Friday’s announcement shows that “the influence of big tech money has become intoxicating to our politicians.”He said that he does not object to data centers in and of themselves and hopes that the state will place them in areas that don't harm the environment, and in rural areas where jobs are needed. But he expressed skepticism that the state is willing to stand up to tech companies that want the centers in northern Virginia.“Northern Virginia is being overwhelmed by these things,” Wright said. “We may as well start calling ourselves the Commonwealth of Amazon.”Suzanne Clark, a spokeswoman the the Virginia Economic Development Partnership, said Amazon Web Services is exploring several site locations “in collaboration with the Commonwealth” but did not specify any sites.Northern Virginia has been a tech hub since the formation of the internet, and now hosts more data centers than the next five largest U.S. markets combined, according to the Northern Virginia Technology Council. They have also proven to be a cash cow for local governments that embrace them — data centers now provide for more than 30 percent of the general fund budget of Loudoun County, a suburb of the nation’s capital with more than 400,000 residents.Another data center opponent, Elena Schlossberg with the Coalition to Protect Prince William County, expressed dismay that Youngkin felt emboldened to announce a data center deal in a year when state and local officials are all on the election ballot in Virginia — and as community concern over data centers is growing.“That is just mind-boggling that he does not see that communities are uniting” in opposition to data centers, she said.In a tweet, Youngkin spokeswoman Macaulay Porter said $35 billion represents the largest capital investment in Virginia history. In terms of jobs, the governor's office said it is expected to generate more than 1,000 jobs across the state. That pales in comparison to the 25,000 jobs associated with Amazon's decision in 2018 to build a second headquarters in Arlington County.The deal calls for Amazon to receive incentives from a new Mega Data Center Incentive Program, as well as a grant of up to $140 million for workforce development site improvements and other costs. Both will require legislative approval.The exact amount of the grant under the incentive program will depend on how many jobs are created, according to the enabling legislation under consideration by the General Assembly. It will also include temporary exemptions from a sales and use tax levied on data centers in Virginia.State Sen. Chap Petersen, D-Fairfax, is sponsoring legislation that would restrict the placement of data centers near natural or historic resources. Petersen said Virginia risks being overwhelmed by data centers if protections aren't put in place.“In my opinion, the data centers are short-term financial gains with long-term environmental consequences. Industrial buildings with no actual workers are not the economy of the future,” he said. “In fact, they may well be obsolete in a decade. Meanwhile, we are losing valuable farmland and historic sites.”An Amazon Web Services spokesman declined to comment on the record over how many data centers are planned and Amazon's preferences for where to locate them.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt b/news/AMZN/2023.01.20/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a32aaab561f7ebb22f6b9f34917c77f47e0648f --- /dev/null +++ b/news/AMZN/2023.01.20/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt @@ -0,0 +1,66 @@ +NEW YORK, Jan 20 (Reuters) - A spate of earnings reports +in coming weeks is set to test a recent bounce in technology and +other megacap stocks, a category whose leadership position in +U.S. markets has faltered after last year’s deep selloff.The tech-heavy Nasdaq 100 index has gained nearly +6.2% in 2023, compared to a 3.45% rise for the S&P 500. +Shares of some megacap companies - which include those grouped +outside of tech in sectors like communication services and +consumer discretionary - have shot higher, with Amazon, +Meta Platforms and Nvidia posting double-digit +percentage increases.Several factors are driving that outperformance, including +investors piling into stocks they believe were overly punished +in 2022. A moderation in bond yields, whose jump last year +particularly pressured tech-stock valuations, is also likely +helping the group, investors said.Now, however, the focus is shifting to whether these +companies can withstand a widely expected economic downturn +while supporting valuations that some investors believe are too +high."To keep this rebound going, the guidance for ’23 has to be +less worse than what people are anticipating," said Peter Tuz, +president of Chase Investment Counsel, whose firm recently pared +its holdings in Apple and Microsoft.Tech and growth stocks led U.S. equity markets for years +following the 2008 financial crisis, aided by near-zero interest +rates. They struggled along with broader markets last year as +the Federal Reserve raised rates to fight surging inflation, and +some investors doubt they will regain the market's pole position +any time soon. The Nasdaq 100 fell 33% in 2022, while the S&P +500 lost 19.4%. +The top six stocks by market value in late 2021 - Apple, +Microsoft, Alphabet, Amazon, Meta and Tesla - +have seen their collective weight in the S&P 500 fall from 25% +to 18%, according to Strategas Research Partners.That dynamic echoes a pattern seen after the market’s +dot-com bubble burst after the turn of the century. The six +biggest stocks at that time saw their collective weight in the +S&P 500 decline to 5% from a peak of 17% over a number of years, +according to Strategas."This leadership unwind ... is going to be one that is +measured in years, not in months or quarters," said Chris +Verrone, head of technical and macro research at Strategas.EARNINGS TESTCompanies comprising over half the S&P 500's market value +are due to report results in the next two weeks, including +Microsoft, the second-largest U.S. company by market value, on +Tuesday, Elon Musk's Tesla and IBM on Wednesday and +Intel on Thursday. Apple, the largest U.S. company by +market value, and Google-parent Alphabet report the following +week.Fourth-quarter earnings in the tech sector are expected to +have declined 9.1% from a year ago, compared to a 2.8% decline +for S&P 500 earnings overall, according to Refinitiv IBES.A critical question for many megacaps, once heralded for +their stellar growth, is whether they can increase revenue and +profits significantly while cutting costs in the face of a +possible recession.Alphabet Inc said Friday it is cutting about +12,000 jobs, or 6% of its workforce, the latest tech giant to +announce layoffs. Microsoft on Wednesday said it would eliminate +10,000 jobs while Amazon started notifying employees of its own +18,000-person job cuts."The biggest positive could be if they could show a control +of expenses while keeping at least reasonable growth intact," +said Rick Meckler, partner at Cherry Lane Investments in New +Vernon, New Jersey. "It’s a hard balancing act."Valuations for tech and megacap companies have moderated +after last year's selloff, though they still stand above those +of the broader market. The S&P 500 tech sector still trades at a +roughly 19% premium to the broader index, above its 7% average +of the past 10 years, according to Refinitiv Datastream.Nonetheless, some investors are reluctant to bet against +tech stocks.The Wells Fargo Investment Institute counts tech as one of +its favored U.S. sectors.The firm expects an economic downturn and believes many tech +companies have businesses that are resilient to economic +uncertainty, said Sameer Samana, a senior global market +strategist there."It’s just too important and too big a weighting not to +participate," Samana said. "But the years of handily +outperforming the S&P are probably now behind us.”(Reporting by Lewis Krauskopf; Editing by Ira Iosebashvili, +John Stonestreet and Daniel Wallis) \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Wall Street climbs on Alphabet, Netflix lift.txt b/news/AMZN/2023.01.20/Wall Street climbs on Alphabet, Netflix lift.txt new file mode 100644 index 0000000000000000000000000000000000000000..f50d8a6eebff1155f405d1467c078613149b3c84 --- /dev/null +++ b/news/AMZN/2023.01.20/Wall Street climbs on Alphabet, Netflix lift.txt @@ -0,0 +1,49 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window.)*Netflix co-founder Hastings steps down as CEO*Google parent Alphabet to lay off 12,000 workers*Goldman Sachs falls on report of probe*Dow up 0.53%, S&P 500 up 1.30%, Nasdaq up 2.02%Jan 20 (Reuters) -U.S. stocks rose on Friday, with the S&P 500 and Dow poised +to snap a three-session losing streak and the Nasdaq rose nearly +2%, as quarterly earnings helped lift Netflix, while Google +parent Alphabet climbed after announcing job cuts.Shares of Netflix Inc jumped 7.29% as the streaming +company added more subscribers than expected in the fourth +quarter and said co-founder Reed Hastings was stepping down as +chief executive.Netflix's quarterly report comes as the technology and other +growth-related sectors face hurdles due to the rising interest +rate path of the U.S. Federal Reserve and recession worries that +have led companies such as Microsoft Corp and +Amazon.com Inc to lay off thousands of employees.Alphabet Inc was the newest company to announce +job cuts as it said it was cutting 12,000 jobs, sending shares +up 4.62%.The gains sent the communication services index up +3.28% as the top performer among the 11 major S&P 500 sectors, +putting it on track for its biggest daily percentage gain since +Nov. 30.High-growth sectors such as communication services were +among the worst performing in 2022 and were notably weaker in +the last few months of the year as investors moved towards +stocks with high dividend yields."Today’s action is probably because we had three down days +so it got into a little bit of an oversold position and they are +just doing a little bit of bargain hunting today," said Ken +Polcari, managing partner at Kace Capital Advisors in Boca +Raton, Florida."If people are viewing an opportunity, if they are getting +more comfortable with the Fed’s narrative... investors are +starting to buy into that narrative and saying 'OK that is the +way it is, let’s look at the stocks that got really beaten up' +because the market is a discounting mechanism."The Dow Jones Industrial Average rose 173.93 points, +or 0.53%, to 33,218.49, the S&P 500 gained 50.81 points, +or 1.30%, to 3,949.66 and the Nasdaq Composite added +219.11 points, or 2.02%, to 11,071.38.Even with Friday's gains, each of the major indexes was on +track for a weekly decline.Comments from Federal Reserve officials have largely said +they expect interest rates to climb to at least 5% this year as +the central bank continues to try and tamp down high inflation. +On Friday, Fed Governor Christopher Waller said the central bank +may be "pretty close" to a point where rates are "sufficiently +restrictive" to cool inflation.The Fed is largely expected to raise rates by 25 basis +points (bps) at its Feb. 1 policy announcement.Still, concerns about corporate earnings persist as the U.S. +economy shows signs of a slowdown and a possible recession.Analysts now expect year-over-year earnings from S&P 500 +companies to decline 2.9% for the fourth quarter, according to +Refinitiv data, compared with a 1.6% decline in the beginning of +the year.Gains on the Dow were curbed, however, by a 2.85% fall in +shares of Goldman Sachs Group Inc after the Wall Street +Journal reported the Fed is probing the company's consumer +business.Advancing issues outnumbered declining ones on the NYSE by a +2.72-to-1 ratio; on Nasdaq, a 2.33-to-1 ratio favored advancers.The S&P 500 posted one new 52-week high and four new lows; +the Nasdaq Composite recorded 64 new highs and 19 new lows. +(Reporting by Chuck Mikolajczak +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Wall Street gains on boost from Alphabet, Netflix.txt b/news/AMZN/2023.01.20/Wall Street gains on boost from Alphabet, Netflix.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d6cab41796bbd155c1856f392268ea86c27be8a --- /dev/null +++ b/news/AMZN/2023.01.20/Wall Street gains on boost from Alphabet, Netflix.txt @@ -0,0 +1,48 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window.)*Netflix co-founder Hastings steps down as CEO*Google parent Alphabet to lay off 12,000 workers*Goldman Sachs falls on report of probe*Indexes up: Dow 0.34%, S&P 0.86%, Nasdaq 1.44%Jan 20 (Reuters) -Wall Street's main indexes rose on Friday after Netflix +kicked off the earnings season for growth stocks on an upbeat +note, while Google parent Alphabet gained on news of job cuts.Shares of Netflix Inc jumped 6.8% as the streaming +company added more subscribers than expected in the fourth +quarter and said co-founder Reed Hastings was stepping down as +chief executive.Netflix's quarterly update comes as the technology sector +faces gloomy prospects due to rising interest rates and economic +worries that have forced companies such as Microsoft Corp +and Amazon.com Inc to lay off thousands of +employees.Alphabet Inc was the latest to join the list as it +said it was cutting 12,000 jobs on Friday. The company's shares +rose 4.1%.The gains made communication services stocks the +top gainer among major S&P 500 sectors, climbing 2.7% with +information technology in tow, helped by a 2.9% rise +in Microsoft."Between Netflix and job cuts at Alphabet we have the sense +that things may not be as bad as feared (for tech stocks)," said +David Russell, vice president of market intelligence at +TradeStation Group."Those layoffs are actually a potential positive. Big +Silicon Valley firms are good at managing earnings and these +layoffs create the potential for some interesting guidance going +forward."The utilities sector, generally known as +"defensive", fell 0.6%.Still, concerns about corporate earnings remain as the U.S. +economy shows signs of a slowdown and recession worries +increase.Analysts now expect year-over-year earnings from S&P 500 +companies to decline 2.9% for the fourth quarter, according to +Refinitiv data, compared with a 1.6% decline in the beginning of +the year.Wall Street's main indexes ended the previous session lower +after resilient labor market data renewed concerns the Federal +Reserve would continue its aggressive rate-hiking cycle despite +recent evidence pointing to easing price pressures.Commentary from Fed officials has pointed to a terminal rate +above 5%, while money market participants still bet rates +peaking at 4.9% by June and see a 93.7% chance for a 25-basis +point rate hike in February.Philadelphia Fed President Patrick Harker repeated on Friday +his view that it's time to move to a slower pace of rate rises, +while outgoing Kansas City Fed President Esther George said more +evidence is needed to gauge a slowdown in services sector +inflation.At 12:12 p.m. ET, the Dow Jones Industrial Average +was up 110.93 points, or 0.34%, at 33,155.49, the S&P 500 +was up 33.47 points, or 0.86%, at 3,932.32, and the Nasdaq +Composite was up 156.63 points, or 1.44%, at 11,008.90.Weighing on the Dow, shares of Goldman Sachs Group Inc +dropped 2.2% after the Wall Street Journal reported the +Federal Reserve is probing the company's consumer business.Advancing issues outnumbered decliners by a 2.40-to-1 ratio +on the NYSE and by a 2.17-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week high and four new +lows, while the Nasdaq recorded 52 new highs and 16 new lows. +(Reporting by Shreyashi Sanyal and Amruta Khandekar; Additional +reporting by Shubham Batra in Bengaluru; Editing by Anil +D'Silva, Shounak Dasgupta and Maju Samuel) \ No newline at end of file diff --git a/news/AMZN/2023.01.20/Wall Street rallies to end higher on Alphabet, Netflix lift.txt b/news/AMZN/2023.01.20/Wall Street rallies to end higher on Alphabet, Netflix lift.txt new file mode 100644 index 0000000000000000000000000000000000000000..e32b5784766a80f8b08bac87a66f648cc78f0f85 --- /dev/null +++ b/news/AMZN/2023.01.20/Wall Street rallies to end higher on Alphabet, Netflix lift.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window.)*Netflix co-founder Hastings steps down as CEO*Google parent Alphabet to lay off 12,000 workers*Goldman Sachs falls on report of probe*Dow up 1%, S&P 500 up 1.89%, Nasdaq up 2.66%Jan 20 (Reuters) - U.S. stocks rallied to close higher +on Friday, as the S&P 500 and Dow snapped a three-session losing +streak and the Nasdaq rose more than 2%, as quarterly earnings +helped lift Netflix, while Google parent Alphabet climbed after +announcing job cuts.Shares of Netflix Inc jumped 8.46% as the streaming +company added more subscribers than expected in the fourth +quarter and said co-founder Reed Hastings was stepping down as +chief executive.Netflix's quarterly report comes as the technology +and other growth-related sectors face hurdles due to the rising +interest rate path of the U.S. Federal Reserve and recession +worries that have led companies such as Microsoft Corp +and Amazon.com Inc to lay off thousands of employees.Alphabet Inc was the most recent company to +announce job cuts as it said it was cutting 12,000 jobs, sending +shares 5.34% higher.The gains sent the communication services index up +3.96% as the top performer among the 11 major S&P 500 sectors, +notching its biggest daily percentage gain since Nov. 30.High-growth sectors such as communication services were +among the worst performing in 2022 and were notably weaker in +the last few months of the year as investors gravitated towards +stocks with high dividend yields."Today’s action is probably because we had three down days +so it got into a little bit of an oversold position and they are +just doing a little bit of bargain hunting today," said Ken +Polcari, managing partner at Kace Capital Advisors in Boca +Raton, Florida."If people are viewing an opportunity, if they are getting +more comfortable with the Fed’s narrative... investors are +starting to buy into that narrative and saying 'OK that is the +way it is, let’s look at the stocks that got really beaten up' +because the market is a discounting mechanism."The Dow Jones Industrial Average rose 330.93 points, +or 1%, to 33,375.49, the S&P 500 gained 73.76 points, or +1.89%, to 3,972.61 and the Nasdaq Composite added 288.17 +points, or 2.66%, to 11,140.43.For the week, the Dow lost 2.7%, the S&P 500 shed 0.66% and +the Nasdaq gained 0.55%.Comments from Federal Reserve officials have largely said +they expect interest rates to climb to at least 5% this year as +the central bank continues to try and tamp down high inflation. +On Friday, Fed Governor Christopher Waller said the central bank +may be "pretty close" to a point where rates are "sufficiently +restrictive" to cool inflation, which gave an additional boost +to equities.The Fed is largely expected to raise rates by 25 basis +points (bps) at its Feb. 1 policy announcement.Still, concerns about corporate earnings persist as the U.S. +economy shows signs of a slowdown and a possible recession.Analysts now expect year-over-year earnings from S&P 500 +companies to decline 2.9% for the fourth quarter, according to +Refinitiv data, compared with a 1.6% decline in the beginning of +the year.Gains on the Dow were curbed, however, by a 2.54% fall in +shares of Goldman Sachs Group Inc after the Wall Street +Journal reported the Fed was probing the company's consumer +business.Volume on U.S. exchanges was 11.90 billion shares, compared +with the 10.87 billion average for the full session over the +last 20 trading days.Advancing issues outnumbered declining ones on the NYSE by a +3.55-to-1 ratio; on Nasdaq, a 2.63-to-1 ratio favored advancers.The S&P 500 posted one new 52-week high and four new lows; +the Nasdaq Composite recorded 77 new highs and 20 new lows. +(Reporting by Chuck Mikolajczak +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/AMZN/2023.01.22/OneEach Technologies Launches In-Kind Donation Solution for Nonprofits to Drive Donor E...txt b/news/AMZN/2023.01.22/OneEach Technologies Launches In-Kind Donation Solution for Nonprofits to Drive Donor E...txt new file mode 100644 index 0000000000000000000000000000000000000000..3cb1ab7067ffe89f2d8b73d326645bad562e09c7 --- /dev/null +++ b/news/AMZN/2023.01.22/OneEach Technologies Launches In-Kind Donation Solution for Nonprofits to Drive Donor E...txt @@ -0,0 +1,33 @@ +OneEach Mindful Giving in-kind product donation solution helps nonprofits generate new donations and engage with more donors by deploying in less than two months.Phoenix, AZ January 22, 2023 --(PR.com)-- Today OneEach Technologies announces the launch of OneEach Mindful Giving. OneEach Mindful Giving works with Amazon Business to provide an e-commerce integration between nonprofit websites and the Amazon Business store. This integration automates the process for donors to easily give in-kind product donations and enables them to enjoy the familiar user experience of shopping online. + +“Our nonprofit customers need innovative ways to engage their donors. We’ve made the in-kind donation process easy with OneEach Mindful Giving. Donors can visit our customers’ websites, select the products the nonprofits need, purchase those products, and have them shipped directly to the nonprofit’s location. OneEach Mindful Giving is innovative when it comes to easy, convenient, and time-saving donations for donors and their preferred nonprofits,” said Tony Finneman, CEO & Founder at OneEach Technologies. + +The setup process is simple. First, nonprofits will connect their Mindful Giving solution with their Amazon Business Account and within Mindful Giving create a product catalog of the commonly needed items. Second, they set up the Mindful Giving donation page to display the catalog on their website where donors can select and pay for the products. Third, they receive the donated products directly at their location. This is convenient for both donors and the nonprofits in ease of use, efficiency, and time savings. + +Donors can easily identify the items the nonprofit needs, then complete the donation process in one place. No longer do donors have to go to the store to purchase products, then travel to another location to box up and ship those items. + +OneEach Mindful Giving was introduced at the 2022 United Way Western Regional Conference in Henderson, Nevada from August 2-5, 2022. The excitement and interest in the integration was palpable at the sold-out event. + +Available Now +New integrations have already started rolling out. To sign up for a demo and discussion, please visit oneeach.com/mindful-giving. + +Here’s a recent success story from United Way Northeast Louisiana’s launch of OneEach Mindful Giving. They had a challenge to collect in-kind donations to provide holiday gifts and necessities to local foster children through partnership agencies. They chose OneEach Mindful Giving as their solution. By creating a curated catalog directly on their website allowed donors to purchase the exact items needed and ship them directly to the agencies to wrap and deliver. On the first day of the campaign, they raised over $2,400 in in-kind donations and continue to see donations increase. + +“Having a tool like OneEach Mindful Giving allowed United Way of Northeast Louisiana to broaden the reach of our 2022 holiday project. Giving our donors and volunteers access to a convenient, easy-to-use online shopping experience helped us streamline our process and ultimately put more gifts into the hands of local foster children. We are excited about utilizing this platform for future projects,” said Meghan Jones, Director of Marketing and Communications at United Way Northeast Louisiana. + +About OneEach Technologies +OneEach Technologies is a family-owned, nonprofit-focused company based out of Phoenix, Arizona. With over 20 years of experience and 750+ nonprofit customers across the globe, we are driven by our passion for helping others. We work hard to keep our prices reasonable for the nonprofit community and continue to reinvest in our company to improve our products and services for our customers. + +Contact Info +Tony Finneman, CEO & Founder +602.334.4701 +Tony@oneeach.com +www.oneeach.comContact Information: +OneEach Technologies +Tony Finneman +602-334-4701 +Contact via Email +www.oneeach.com +CEO & FounderRead the full story here: https://www.pr.com/press-release/877345 +Press Release Distributed by PR.comCopyright © 2023 PR.com and its licensors +, source US Press Releases \ No newline at end of file diff --git a/news/AMZN/2023.01.22/Spotify to cut staff as soon as this week - Bloomberg News.txt b/news/AMZN/2023.01.22/Spotify to cut staff as soon as this week - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..4f278aa560280d95e258a549ca333362cd7ad923 --- /dev/null +++ b/news/AMZN/2023.01.22/Spotify to cut staff as soon as this week - Bloomberg News.txt @@ -0,0 +1 @@ +The report, which cited sources, said that the number of jobs being eliminated was not specified.Spotify did not immediately respond to a Reuters' request for comment.Tech firms shed jobs last year as a demand boom during the pandemic rapidly fizzled, and layoffs have continued this year with companies looking to rein in costs to ride out the economic downturn.In the last few weeks, Google parent Alphabet said it would eliminate 12,000 jobs, while Microsoft said it would eliminate 10,000. Amazon's layoff round will impact more than 18,000 roles.Other tech companies like Facebook-parent Meta and Elon Musk's Twitter laid off thousands late last year. (Reporting by Rahat Sandhu in Bengaluru; Editing by Eileen Soreng) \ No newline at end of file diff --git a/news/AMZN/2023.01.22/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt b/news/AMZN/2023.01.22/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a32aaab561f7ebb22f6b9f34917c77f47e0648f --- /dev/null +++ b/news/AMZN/2023.01.22/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt @@ -0,0 +1,66 @@ +NEW YORK, Jan 20 (Reuters) - A spate of earnings reports +in coming weeks is set to test a recent bounce in technology and +other megacap stocks, a category whose leadership position in +U.S. markets has faltered after last year’s deep selloff.The tech-heavy Nasdaq 100 index has gained nearly +6.2% in 2023, compared to a 3.45% rise for the S&P 500. +Shares of some megacap companies - which include those grouped +outside of tech in sectors like communication services and +consumer discretionary - have shot higher, with Amazon, +Meta Platforms and Nvidia posting double-digit +percentage increases.Several factors are driving that outperformance, including +investors piling into stocks they believe were overly punished +in 2022. A moderation in bond yields, whose jump last year +particularly pressured tech-stock valuations, is also likely +helping the group, investors said.Now, however, the focus is shifting to whether these +companies can withstand a widely expected economic downturn +while supporting valuations that some investors believe are too +high."To keep this rebound going, the guidance for ’23 has to be +less worse than what people are anticipating," said Peter Tuz, +president of Chase Investment Counsel, whose firm recently pared +its holdings in Apple and Microsoft.Tech and growth stocks led U.S. equity markets for years +following the 2008 financial crisis, aided by near-zero interest +rates. They struggled along with broader markets last year as +the Federal Reserve raised rates to fight surging inflation, and +some investors doubt they will regain the market's pole position +any time soon. The Nasdaq 100 fell 33% in 2022, while the S&P +500 lost 19.4%. +The top six stocks by market value in late 2021 - Apple, +Microsoft, Alphabet, Amazon, Meta and Tesla - +have seen their collective weight in the S&P 500 fall from 25% +to 18%, according to Strategas Research Partners.That dynamic echoes a pattern seen after the market’s +dot-com bubble burst after the turn of the century. The six +biggest stocks at that time saw their collective weight in the +S&P 500 decline to 5% from a peak of 17% over a number of years, +according to Strategas."This leadership unwind ... is going to be one that is +measured in years, not in months or quarters," said Chris +Verrone, head of technical and macro research at Strategas.EARNINGS TESTCompanies comprising over half the S&P 500's market value +are due to report results in the next two weeks, including +Microsoft, the second-largest U.S. company by market value, on +Tuesday, Elon Musk's Tesla and IBM on Wednesday and +Intel on Thursday. Apple, the largest U.S. company by +market value, and Google-parent Alphabet report the following +week.Fourth-quarter earnings in the tech sector are expected to +have declined 9.1% from a year ago, compared to a 2.8% decline +for S&P 500 earnings overall, according to Refinitiv IBES.A critical question for many megacaps, once heralded for +their stellar growth, is whether they can increase revenue and +profits significantly while cutting costs in the face of a +possible recession.Alphabet Inc said Friday it is cutting about +12,000 jobs, or 6% of its workforce, the latest tech giant to +announce layoffs. Microsoft on Wednesday said it would eliminate +10,000 jobs while Amazon started notifying employees of its own +18,000-person job cuts."The biggest positive could be if they could show a control +of expenses while keeping at least reasonable growth intact," +said Rick Meckler, partner at Cherry Lane Investments in New +Vernon, New Jersey. "It’s a hard balancing act."Valuations for tech and megacap companies have moderated +after last year's selloff, though they still stand above those +of the broader market. The S&P 500 tech sector still trades at a +roughly 19% premium to the broader index, above its 7% average +of the past 10 years, according to Refinitiv Datastream.Nonetheless, some investors are reluctant to bet against +tech stocks.The Wells Fargo Investment Institute counts tech as one of +its favored U.S. sectors.The firm expects an economic downturn and believes many tech +companies have businesses that are resilient to economic +uncertainty, said Sameer Samana, a senior global market +strategist there."It’s just too important and too big a weighting not to +participate," Samana said. "But the years of handily +outperforming the S&P are probably now behind us.”(Reporting by Lewis Krauskopf; Editing by Ira Iosebashvili, +John Stonestreet and Daniel Wallis) \ No newline at end of file diff --git a/news/AMZN/2023.01.23/AWS Launches Second Infrastructure Region in Australia.txt b/news/AMZN/2023.01.23/AWS Launches Second Infrastructure Region in Australia.txt new file mode 100644 index 0000000000000000000000000000000000000000..a3b08230996c5d80c75058e988c7992a7cf9bf7d --- /dev/null +++ b/news/AMZN/2023.01.23/AWS Launches Second Infrastructure Region in Australia.txt @@ -0,0 +1,43 @@ + +Amazon Web Services (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today announced the launch of its second AWS infrastructure Region in Australia—the AWS Asia Pacific (Melbourne) Region. Starting today, developers, startups, entrepreneurs, and enterprises, as well as government, education, and nonprofit organizations, will have greater choice for running their applications and serving end users from AWS data centers located in Australia. AWS is planning to invest an estimated $4.5 billion (approx. A$6.8 billion) in Australia by 2037 through the AWS Asia Pacific (Melbourne) Region. For more information about AWS Global Infrastructure, visit aws.amazon.com/about-aws/global-infrastructure. + +“Australia has a strong history of technical innovation, and the launch of a second AWS Region in Australia provides even greater resilience and enables more customers to develop cloud-based applications that help fuel economic development across the country,” said Prasad Kalyanaraman, vice president of Infrastructure Services at AWS. “The AWS Asia Pacific (Melbourne) Region adds to our ongoing infrastructure expansion and investments in Australia since we launched the AWS Asia Pacific (Sydney) Region in 2012. We are proud to deepen our investment by driving local job creation, building cloud skills, and creating opportunities for growth and collaboration with our local customers and AWS Partners.” + +“We know how important access to secure cloud infrastructure is to Victorian businesses, and providing more choice will deliver a boost to the economy, support innovation, and help to create new jobs locally,” said Victorian Minister for Trade and Investment Tim Pallas. + +With the launch of the AWS Asia Pacific (Melbourne) Region, AWS now has 99 Availability Zones across 31 geographic regions, with announced plans to launch 12 more Availability Zones and four more AWS Regions in Canada, Israel, New Zealand, and Thailand. AWS Regions are composed of Availability Zones that place infrastructure in separate and distinct geographic locations. The AWS Asia Pacific (Melbourne) Region consists of three Availability Zones and joins the existing AWS Asia Pacific (Sydney) Region, which opened in November 2012. Availability Zones are located far enough from each other to support customers’ business continuity and near enough to provide low latency for high availability applications that use multiple Availability Zones. Each Availability Zone has independent power, cooling, and physical security and is connected through redundant, ultra-low latency networks. AWS customers focused on high availability can design their applications to run in multiple Availability Zones to achieve even greater fault tolerance. + +The launch of the AWS Asia Pacific (Melbourne) Region will enable local customers with data residency preferences to store data securely in Australia while providing customers with even lower latency to drive greater productivity, more efficient business operations, and enhanced real-time application performance. Customers will also have access to advanced AWS technologies to drive innovation including compute, storage, networking, business applications, developer tools, data analytics, security, machine learning, and artificial intelligence. + +AWS also released an economic impact study estimating that the company’s projected spending on the construction and operation of the new Region will support more than 2,500 full-time jobs at external businesses annually, with a planned $4.5 billion (approx. A$6.8 billion) investment in Australia by 2037. The investment includes capital expenditures on the construction of data centers, operational expenses related to ongoing utilities and facility costs, and purchases of goods and services from regional businesses. These jobs, including construction, facility maintenance, engineering, telecommunications, and other jobs within the country’s broader economy, will be part of the AWS supply chain in Australia. The construction and operation of the AWS Asia Pacific (Melbourne) Region is also estimated to add approximately $10.6 billion (approx. A$15.9 billion) to Australia’s GDP by 2037. + +Customers welcome the AWS Asia Pacific (Melbourne) Region + +Hundreds of thousands of organizations in Australia are among the millions of active customers using AWS in more than 190 countries around the world. Enterprises in Australia choose AWS to innovate and assist with accelerating time to market. Customers using AWS include Airtasker, Animal Logic, ANZ Bank, Atlassian, Canva, Cochlear, Commonwealth Bank of Australia, Jim’s Group, Kmart, Lion, Lovisa, National Australia Bank, Optus, PEXA Group, Pizza Hut, Smiling Mind, Swimming Australia, Target, Telstra, Ticketek, Woodside Energy, and Youfoodz. Australian public sector customers use AWS to help drive cost savings and better serve local citizens. These customers include FrontierSI, Melbourne Genomics Health Alliance, Royal Melbourne Institute of Technology (RMIT), University of Melbourne, and Victorian Land Registry Services. Australian startups, including Brighte, FloodMapp, FrankieOne, Illuvium, Law On Earth, Littlepay, Mr Yum, Omniscient Neurotechnology (o8t), Reejig, and Swoop Aero, are building their businesses with the use of AWS to rapidly scale nationally and around the world. + +ANZ Bank provides banking and financial products and services to more than 8.5 million retail and business customers, and operate across 32 markets. “We plan to deploy our AWS targeted workloads and applications through the AWS Asia Pacific (Melbourne) Region on day one and want to make it our long-term primary AWS location,” said Gerard Florian, group executive of Technology at ANZ. “The lower latency and higher performance we expect of the new AWS Region in Melbourne will help us improve our customer experience and accelerate our cloud adoption.” + +Littlepay is a Melbourne-based financial technology company that works with more than 250 transport and mobility providers to enable contactless payments on local buses, city networks, and national public transport systems. “Our mission is to create a universal payment experience around the world, which requires world-class global infrastructure that can grow with us,” said Amin Shayan, CEO at Littlepay. “To drive a seamless experience for our customers, we ingest and process over 1 million monthly transactions in real time using AWS, which enables us to generate insights that help us improve our services. We are excited about the launch of a second AWS Region in Australia, as it gives us access to advanced technologies, like machine learning and artificial intelligence, at a lower latency to help make commuting a simpler and more enjoyable experience.” + +PEXA Group operates Australia’s leading digital property settlement platform, which provides an efficient, reliable, and secure settlement experience for home buyers and sellers. “Operational resilience is at the heart of our commitment to customers and our regulatory imperatives, which is why it is a top strategic priority at PEXA,” said Eglantine Etiemble, chief technology officer at PEXA Group. “The launch of a second AWS Region in Australia makes it possible for us to deploy applications securely across multiple Regions to improve the availability and performance of our PEXA platform and continue helping more than 20,000 families a week settle their homes sooner.” + +RMIT is a public research university with more than 96,000 students globally. “The launch of an AWS Region in Melbourne gives us the additional capacity to assist researchers, students, and academics to deliver world-class research outcomes that benefit society,” said professor Calum Drummond, deputy vice chancellor of Research and Innovation and vice president at RMIT. “We recently launched RMIT University’s AWS Cloud Supercomputing facility, known as RACE. RMIT researchers are using RACE to advance battery technologies, photonics, and geospatial science. The low latency and high throughput of the AWS Region in Melbourne, combined with our high-bandwidth private fiber network, will enable researchers and students to innovate beyond the limitations of traditional on-premises data centers.” + +Australian AWS Partners also welcome the AWS Asia Pacific (Melbourne) Region + +The AWS Partner Network (APN) includes tens of thousands of independent software vendors (ISVs) and systems integrators (SIs) around the world. AWS Partners build innovative solutions and services on AWS, and the APN helps by providing business, technical, marketing, and go-to-market support to customers. AWS ISVs, SIs, and consulting partners help enterprise and public sector customers migrate to AWS, deploy mission-critical applications, and provide a full range of monitoring, automation, and management services for customers' cloud environments. Examples of Australian-based AWS Partners include Cevo, CMD Solutions, DiUS, IntelligenceBank, Local Measure, NCS, Stax, Unleash live, Urban.io, and Versent. For the full list of AWS Partners, visit aws.amazon.com/partners. + +Cevo is an AWS Advanced Consulting Partner that provides cloud services such as migration, data analytics, and managed services to Australian companies including David Jones, Insignia Financial, MYOB, and Jim’s Group. “Working with AWS has enabled us to expand our team by more than 60 consultants in the past 12 months to meet increased customer demand for deploying highly-regulated cloud environments,” said James Lewis, CEO at Cevo. “As cloud adoption continues to scale, we’re seeing more customers—particularly in the financial, government, and retail sectors—move to the cloud to tap into advanced modernization and analytics capabilities to ideate, design and build new customer-focused services. With the AWS Asia Pacific (Melbourne) Region, we can enable customers to drive more experimentation at scale, while providing assurance that their data is stored securely in Australia.” + +Commitment to sustainability + +As part of The Climate Pledge, Amazon is committed to reaching net-zero carbon across its business by 2040 and is on a path to powering operations with 100% renewable energy by 2025, five years ahead of the original 2030 target. Amazon is the world’s largest corporate purchaser of renewable energy, and as of 2021, reached 85% renewable energy across its business. Additionally, AWS will be water positive by 2030, returning more water to communities than it uses in its direct operations. Amazon has three renewable energy investments in Australia, which include a wind farm in Hawkesdale, Victoria, and two solar farms in New South Wales, in Gunnedah and Suntop. When all three projects are operational, these renewable energy investments are expected to generate 717,000 megawatt-hours of renewable energy annually, the equivalent of the annual power use of almost 115,000 Australian homes. Amazon now has 57 renewable energy projects across the Asia-Pacific region. + +About Amazon Web Services + +For over 15 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud offering. AWS has been continually expanding its services to support virtually any workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 99 Availability Zones within 31 geographic regions, with announced plans for 12 more Availability Zones and four more AWS Regions in Canada, Israel, New Zealand, and Thailand. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com. + +About Amazon + +Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005697/en/ \ No newline at end of file diff --git a/news/AMZN/2023.01.23/Amazon Air begins first cargo service in India.txt b/news/AMZN/2023.01.23/Amazon Air begins first cargo service in India.txt new file mode 100644 index 0000000000000000000000000000000000000000..a2c7c0c7c73a66da60d3ebdeed61828f3d6f0072 --- /dev/null +++ b/news/AMZN/2023.01.23/Amazon Air begins first cargo service in India.txt @@ -0,0 +1 @@ +Amazon Air expanded its service area on Monday, becoming the first e-commerce company with its own dedicated cargo service in India.Amazon India will utilize two Boeing 737-800 cargo planes to deliver packages quickly throughout the country, a press release from Amazon said. The planes were unveiled at a hangar in Hyderabad, India, by Kalvakuntla Taraka Rama Rao, minister of municipal administration and urban development in the state of Telangana."Telangana offers a conducive environment for the development of multi-modal connectivity and I take great pride in the fact that Hyderabad has emerged as a major hub for e-commerce distribution and supply chain activities," he said.Telangana is also home to Amazon's largest campus, an Amazon Web Service center, and its largest fulfillment center in Asia, according to Rama Rao.India's is the third service area for Amazon Air. There are an estimated 1.1 million Amazon sellers in the country, Amazon said. The company has fulfillment centers in 15 states and distribution centers in 19.Amazon Air began in the United States in 2016 and later expanded to Europe. It operates 110 aircraft bringing shipments to 70 locations.Quikjet Cargo Airlines will operate the Amazon Air aircraft. It is a freight and cargo solutions company based in Delhi and Hyderabad."Hyderabad has emerged as a major hub for e-commerce distribution with its strategic geographic location, improved domestic air network, and the increasing popularity of e-commerce in the country," said Akhil Saxena, vice president of customer fulfillment for Amazon.Online retail accounted for about 44% of India's e-commerce in 2020, the International Trade Administration reports. E-commerce is a $46.2 billion industry. By 2026 it is projects to grow to $136.7 billion annually.Copyright 2023 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source International Top News \ No newline at end of file diff --git a/news/AMZN/2023.01.23/Amazon launches air freight service in India.txt b/news/AMZN/2023.01.23/Amazon launches air freight service in India.txt new file mode 100644 index 0000000000000000000000000000000000000000..38adff399653fc0c8a80b487f158719d3e1c2d64 --- /dev/null +++ b/news/AMZN/2023.01.23/Amazon launches air freight service in India.txt @@ -0,0 +1 @@ +India is the third market, after the United States and Europe, where the company has launched Amazon Air. The Seattle-headquartered firm, which started the service in 2016 in the U.S., operates a network of over 110 jets that fly to over 70 locations worldwide.Amazon has tied up with Quikjet Cargo Airline Private Ltd, a Bengaluru-based freight carrier, which will use a lone Boeing 737-800 jet to fly shipments, the company said in a statement. Quikjet will transport Amazon customer shipments to Hyderabad, Bengaluru, Delhi, and Mumbai, Amazon said in a press release.The books-to-boots online retailer, which competes with Walmart Inc-owned Flipkart in India, said the launch of Amazon Air would support over 1.1 million sellers in the country. Amazon, which uses its own ground delivery services for shipping, also partners with Deutsche Post DHL Group controlled Blue Dart Express Ltd, one of India's biggest air cargo carriers. (Reporting by Nandan Mandayam in Bengaluru; Editing by Nivedita Bhattacharjee) \ No newline at end of file diff --git a/news/AMZN/2023.01.23/Amazon launches dedicated air cargo service in India as online sales soar.txt b/news/AMZN/2023.01.23/Amazon launches dedicated air cargo service in India as online sales soar.txt new file mode 100644 index 0000000000000000000000000000000000000000..ca575ffefed34b134ed55c67b759be93334362da --- /dev/null +++ b/news/AMZN/2023.01.23/Amazon launches dedicated air cargo service in India as online sales soar.txt @@ -0,0 +1,30 @@ +(Recasts with comments from an executive)NEW DELHI/BENGALURU, Jan 23 (Reuters) - Amazon.com Inc +on Monday launched a dedicated air cargo service in +India, Amazon Air, as it looks to expand and speed-up deliveries +across one of its key markets amid fast-growing e-commerce +sales, an executive said on Monday.The company has invested in Indian cargo carrier Quikjet to +exclusively transport packages for Amazon across four major +Indian cities, Sarah Rhoads, vice president, Amazon Global Air +told Reuters, without specifying the size of the investment.The move to use a dedicated cargo service will give +Amazon tighter control over costs and flight schedules while +reducing delivery times across a wider range of products, said +Rhoads."When we use a dedicated network ... we have more +transparency with the cost, we control the negotiations and we +drive the schedule to make sure we are making the most efficient +use of the assets," she said."We want to deliver the majority of shipments in two days or +less and Amazon Air enables that."India is the third market, after the United States and +Europe, where the company has launched Amazon Air. The +Seattle-headquartered firm, which started the service in 2016 in +the United States, operates a network of more than 110 jets that +fly to over 70 locations worldwide.Quikjet, a Bengaluru-based freight carrier which is a unit +of Europe's ASL Aviation, already operates one plane for Amazon +and from Tuesday will begin its second across cities including +Mumbai, Delhi, Bengaluru and Hyderabad. ASL operates several +aircraft for Amazon in Europe, Rhoads said.Rhoads said Amazon, the books-to-boots online retailer which +competes with Walmart Inc-owned Flipkart in India, will +expand its fleet based on the success of its two planes.Amazon, which uses its own ground delivery services for +shipping, also partners with Deutsche Post DHL Group +controlled Blue Dart Express Ltd, one of India's +biggest air cargo carriers. +(Reporting by Nandan Mandayam in Bengaluru; Editing by Nivedita +Bhattacharjee and Emelia Sithole-Matarise) \ No newline at end of file diff --git a/news/AMZN/2023.01.23/Elliott Management acquires a multi-billion dollar ...txt b/news/AMZN/2023.01.23/Elliott Management acquires a multi-billion dollar ...txt new file mode 100644 index 0000000000000000000000000000000000000000..66deef62e3bbcb9e1dbc4d21f158a73e97a4cebe --- /dev/null +++ b/news/AMZN/2023.01.23/Elliott Management acquires a multi-billion dollar ...txt @@ -0,0 +1,11 @@ + +Airbus, Santander, Barclays, Nokia, Samsung, UniCredit, Salesforce, Intel, Tesla, Ford, General Motors, Amazon, Whirlpool, Ally Financial, Discover Financial Services, Wayfair, Spotify, Tokyo Electric Power Company, Hokkaido Electric Power and Apple feature in this press review! + + + + +  + +  +  +  diff --git a/news/AMZN/2023.01.23/Futures subdued with earnings in full swing, Salesforce up on Elliot stake.txt b/news/AMZN/2023.01.23/Futures subdued with earnings in full swing, Salesforce up on Elliot stake.txt new file mode 100644 index 0000000000000000000000000000000000000000..f4eba452fa5f535afb60f0cd18ea53e7a323e657 --- /dev/null +++ b/news/AMZN/2023.01.23/Futures subdued with earnings in full swing, Salesforce up on Elliot stake.txt @@ -0,0 +1 @@ +A slew of earnings in the coming weeks will also test the recent bounce in certain technology and growth stocks that took a large hit last year. Concerns of a possible recession amid a high interest rate environment have hit growth-related sectors, driving major tech companies such as Microsoft Corp, Amazon.com Inc and Alphabet Inc to lay off thousands of employees. Companies which make up more than half the S&P 500 index's market value will report earnings in the next two weeks, with Microsoft, the second-largest U.S. firm by market value, posting results on Tuesday, Tesla Inc and IBM on Wednesday and Intel on Thursday. Shares of cloud-based software firm Salesforce Inc rose 4.0% in premarket trading to lead gains among Dow components after activist investor Elliott Management Corp made a multi-billion-dollar investment in the company, according to people familiar with the matter. At 6:17 a.m. ET, Dow e-minis were down 5 points, or 0.01%, S&P 500 e-minis were down 3.25 points, or 0.08%, and Nasdaq 100 e-minis were down 5.75 points, or 0.05%. Data recently has pointed to some signs of inflation cooling but has also highlighted a tight labor market, which is key for the Federal Reserve to continue its aggressive rate-hiking cycle. Qualcomm Inc and Advanced Micro Devices Inc climbed around 2% each, after brokerage Barclays upgraded the chipmakers to "overweight" from "equal-weight". Payments firm PayPal Holdings Inc fell 2.1% after Germany's cartel office regulator said it had initiated proceedings against PayPal Europe over possible hindrance against competitors. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AMZN/2023.01.23/Jennifer Connelly Receives the IMDb STARmeter Award at the 2023 Sundance Film Festival.txt b/news/AMZN/2023.01.23/Jennifer Connelly Receives the IMDb STARmeter Award at the 2023 Sundance Film Festival.txt new file mode 100644 index 0000000000000000000000000000000000000000..d69cc3342f53a376b85670189eed92c2c45d32f7 --- /dev/null +++ b/news/AMZN/2023.01.23/Jennifer Connelly Receives the IMDb STARmeter Award at the 2023 Sundance Film Festival.txt @@ -0,0 +1,19 @@ + +IMDb: +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230123005538/en/Jennifer Connelly receives the IMDb STARmeter Award at the IMDb Studio at Acura Festival Village on Sunday, January 22, 2023 in Park City, Utah (Photo by Corey Nickols/Getty Images for IMDb) +WHAT: IMDb (www.imdb.com), the world's most popular and authoritative source for movie, TV, and celebrity content, presented the IMDb “Fan Favorite” STARmeter Award to Jennifer Connelly in the IMDb celebrity video studio (#IMDbStudio), located within Acura Festival Village at the 2023 Sundance Film Festival. IMDb STARmeter Awards recognize the stars who are fan favorites on the IMDbPro STARmeter chart, which is determined by the page views of the more than 200 million unique monthly visitors to IMDb worldwide. Learn more about IMDb STARmeter Awards at imdb.com/starmeterawards. + +WHO: IMDb presented a “Fan Favorite” STARmeter Award to Jennifer Connelly. + +WHY: Jennifer Connelly will star as Lucy in the upcoming film Bad Behaviour, debuting at the Festival, and most recently dazzled fans as Penny Benjamin in the 2022 blockbuster Top Gun: Maverick (recently ranked as one of the IMDb Top Movies of the Year). Connelly consistently trends on the IMDbPro STARmeter chart and recently ranked as the #40 most popular star of 2022. + +WHEN: Jennifer Connelly accepted the IMDb STARmeter Award yesterday (January 22) during a visit to the invitation-only IMDb celebrity video studio (#IMDbStudio), located within Acura Festival Village at the 2023 Sundance Film Festival. Original IMDb coverage of the Festival, including celebrity video interviews and photographs, is available now at www.imdb.com/sundance. During the Festival, fans can see exclusive IMDb interviews and photos on IMDb social media channels including TikTok, Instagram, YouTube, Facebook, and Twitter. + +PHOTOS: For award presentation images, please go to: https://dam.gettyimages.com/assignments/jennifer-connelly-receives-an-imdb-starmeter-award + +VIDEO: For award presentation video, please go to: https://www.imdb.com/video/vi2586952985/ + +About IMDb + +IMDb is the world's most popular and authoritative source for information on movies, TV shows, and celebrities. Products and services to help fans decide what to watch and where to watch it include: the IMDb website for desktop and mobile devices; apps for iOS and Android; and X-Ray on Prime Video. IMDb also produces IMDb original video series and podcasts. For entertainment industry professionals, IMDb provides IMDbPro and Box Office Mojo. IMDb licenses information from its vast and authoritative database to third-party businesses worldwide; learn more at developer.imdb.com. IMDb is an Amazon company. For more information, visit imdb.com/press and follow @IMDb. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005538/en/ \ No newline at end of file diff --git a/news/AMZN/2023.01.23/Judge dismisses Whole Foods workers' lawsuit over 'Black Lives Matter' masks.txt b/news/AMZN/2023.01.23/Judge dismisses Whole Foods workers' lawsuit over 'Black Lives Matter' masks.txt new file mode 100644 index 0000000000000000000000000000000000000000..3db17411208e92117083fc1b6d0f28cfb8b44d13 --- /dev/null +++ b/news/AMZN/2023.01.23/Judge dismisses Whole Foods workers' lawsuit over 'Black Lives Matter' masks.txt @@ -0,0 +1,35 @@ +Jan 23 (Reuters) - A federal judge on Monday dismissed a +lawsuit by three former Whole Foods employees who said they had +been illegally fired for opposing the upscale grocery chain's +alleged discriminatory discipline of workers who wore "Black +Lives Matter" masks.U.S. District Judge Allison Burroughs in Boston found little +evidence to refute Whole Foods' "legitimate business +explanations" for strictly enforcing the dress code, and no +significant evidence it had targeted the plaintiffs by firing +them in the summer of 2020."The evidence demonstrates only that Whole Foods did not +strenuously enforce the dress code policy until mid-2020, and +that when it increased enforcement, it did so uniformly," +Burroughs wrote in a 28-page decision."This holding is not about the importance of the Black +Lives Matter message, the value of plaintiffs' advocacy in +wearing the masks, the valor of their speaking out against what +they perceived to be discrimination in their workplace, or the +quality of Whole Foods' decision-making," the judge added.Whole Foods, part of Amazon.com Inc, has long +maintained that its adopted its dress code--which also covered +visible slogans, logos and ads--to foster a welcoming, safe and +inclusive shopping environment.Burroughs said the former employees Haley Evans, Savannah +Kinzer and Christopher Michno could not claim protection from +retaliation under Title VII of the federal Civil Rights Act of +1964.Lawyers for the plaintiffs did not immediately respond to +requests for comment. Whole Foods said it was pleased with the +lawsuit's dismissal.In June, the federal appeals court in Boston upheld +Burroughs' February 2021 dismissal of a proposed class action +over the dress code, though on somewhat different legal grounds +than hers.The Black Lives Matter movement started after police killed +several Black people in the United States.A video showing the May 2020 killing of George Floyd by a +police officer sparked nationwide protests about racial +injustice.Whole Foods had employed Evans in a Marlton, New Jersey, +store, while Kinzer worked in Cambridge, Massachusetts, and +Michno in Berkeley, California.The case is Kinzer et al v Whole Foods Market Inc, U.S. +District Court, District of Massachusetts, No. 20-11358. +(Reporting by Jonathan Stempel in New York; Editing by Leslie +Adler and Bradley Perrett) \ No newline at end of file diff --git a/news/AMZN/2023.01.23/Microsoft, Amazon results to highlight softening cloud business.txt b/news/AMZN/2023.01.23/Microsoft, Amazon results to highlight softening cloud business.txt new file mode 100644 index 0000000000000000000000000000000000000000..5b9476f2c330a6dd508f0f7381c1373d1065d016 --- /dev/null +++ b/news/AMZN/2023.01.23/Microsoft, Amazon results to highlight softening cloud business.txt @@ -0,0 +1 @@ +After years of blistering growth, most recently fuelled by remote working and studying during the pandemic, cloud demand has cooled in the past nine months and sales growth may slow further, analysts said.End-user cloud spending for services including those from the world's largest providers - Amazon Web Services (AWS) and Microsoft's Azure - is expected to grow 20.7% this year after 18.8% growth in 2022 and 52.8% in 2021, according to research firm Gartner."A lot of companies are slowing their migration to the cloud or asking for a lower price on their existing plans," RBC Capital Markets analyst Rishi Jaluria said. Microsoft Chief Executive Satya Nadella said last week that businesses were exercising caution as "some parts of the world are in a recession and other parts are anticipating one".THE CONTEXTAzure is set to grow 31% in the December quarter, according to Visible Alpha, its weakest growth since the Redmond, Washington-based company started breaking out the unit's numbers in 2015. AWS, Amazon's lucrative cloud business from which it gets more than a quarter of its revenue, is expected to post a 24% increase in sales in the quarter. It grew 28% in the July-September period.The slowdown is also expected to weigh on Alphabet Inc, the third-largest cloud provider, a sign that the overall market was maturing, analysts said. "Easy to move" workloads are already on the cloud and it will be harder for providers to encourage businesses to move the next batch of workloads to their platforms, brokerage UBS said earlier this month. Microsoft has also taken a hit from a slump in the personal computer market, where its Windows software is still the dominant operating system. Amazon, too, is feeling the heat from slowing retail demand.THE FUNDAMENTALS* Microsoft Q2 revenue is expected to rise 2.5% to $53 billion, the slowest increase in six years.* Amazon Q4 revenue is expected to rise 5.8% to $145.40 billion.WALL STREET SENTIMENT* 47 of 53 analysts rate Microsoft's stock "buy" or higher, and have a median price target of $285.* Microsoft shares have fallen 19% in the past 12 months.* 48 of 52 analysts rate Amazon's stock as "buy" or higher, and have a median price target of $135.* Amazon shares have fallen 32% in the past 12 months. (Reporting by Aditya Soni and Yuvraj Malik in Bengaluru; Editing by Anil D'Silva)By Yuvraj Malik and Aditya Soni \ No newline at end of file diff --git a/news/AMZN/2023.01.23/Stocks, euro gain amid divergent Fed, ECB rate hike outlooks.txt b/news/AMZN/2023.01.23/Stocks, euro gain amid divergent Fed, ECB rate hike outlooks.txt new file mode 100644 index 0000000000000000000000000000000000000000..347dbbae219b26ecd7c2f2a895eb6b525f808eef --- /dev/null +++ b/news/AMZN/2023.01.23/Stocks, euro gain amid divergent Fed, ECB rate hike outlooks.txt @@ -0,0 +1,52 @@ +*Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn*Graphic: World FX rates http://tmsnrt.rs/2egbfVhNEW YORK/LONDON, Jan 23 (Reuters) - Global equity +markets edged higher on Monday as hopes of a less aggressive +Federal Reserve buoyed investor sentiment, while the euro hit a +nine-month peak against the dollar on the rising likelihood of +more jumbo interest rate hikes in Europe.The start of another big week for U.S. corporate earnings is +expected to test a recent bounce in beaten-down technology and +growth stocks as speculation grows that the Fed on Feb. 1 will +only raise its key rate by 25 basis points.European shares edged up 0.41% as declining natural +gas prices have eased recession fears in the euro zone, despite +expectations the European Central Bank will hike rates by 50 +basis points on Feb. 2 and in March, a Reuters poll shows.The euro shot to $1.0927 as it climbs from a +two-decade low of $0.953 in September, but the single currency +later pared gains against the dollar to $1.0867."The combination of a risk-off mood in the stock market and +the divergence between the Fed and ECB allowed the euro to make +new highs above 109," said Marc Chandler, chief market +strategist at Bannockburn Global Forex in New York.Gains in chipmakers boosted the technology sector, which has +been hit by recession concerns amid high interest rates, leading +Microsoft Corp, Amazon.com Inc and Alphabet +Inc to lay off thousands of employees.Investors are anxious to hear from corporate executives +about their economic outlook in a week in which Microsoft posts +results on Tuesday, Tesla Inc and IBM on +Wednesday and Intel on Thursday.Analysts expect year-over-year fourth-quarter earnings from +S&P 500 companies to decline 2.9%, according to IBES Refinitiv +data, compared with a 1.6% decline at the beginning of the year.The Dow Jones Industrial Average rose 0.72%, the S&P +500 gained 0.99% and the Nasdaq Composite added +1.55%, pushing ahead from gains last Friday, its best session +since late November.Trading was thin in Asia, as markets in China, Hong Kong, +Singapore, Malaysia, South Korea and Taiwan were closed for the +Lunar New Year holiday.MSCI's gauge of stocks across the globe +gained 0.82%.Money markets are pricing in a 97.8% chance that the Fed +will raise rates by 25 basis points next month, and have lowered +the likely peak rate to 4.906% in June, below Fed projections of +its target rate staying above 5% into next year.."The market’s still quite buoyant at the moment," said Peter +Chatwell, head of global macro strategies trading at Mizuho, who +said markets were being driven by the idea that U.S. inflation +has peaked.Investors are waiting for euro zone and U.S. flash PMI data +on Tuesday, which are expected to show less severe economic +contractions than the previous month, according to analysts +polled by Reuters. The data is forecast to show more improvement +in Europe than in the United States.Sterling traded at $1.2368, down 0.20%, while the +Australian dollar, seen as a proxy for risk appetite, rose 0.56% +to $0.7005. The Japanese yen weakened 0.70% at 130.49 per +dollar.Treasury yields crept up to further erode a recent bond +rally that some investors say was overdone in reflecting fears +that the U.S. economy may soon enter a recession.The yield on 10-year Treasury notes rose 2.4 +basis points to 3.508%.Euro zone bonds were little changed, with the benchmark +10-year German yield at 2.191%.Crude prices rose to extend last week's gains on the back of +a stronger outlook thanks to an expected economic recovery in +top oil importer China this year.U.S. crude recently rose 0.34% to $81.92 per barrel +and Brent was at $88.43, up 0.91% on the day.(Reporting by Herbert Lash, additional reporting by Elizabeth +Howcroft in London, Editing by Christina Fincher, Chizu Nomiyama +and Sharon Singleton) \ No newline at end of file diff --git a/news/AMZN/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt b/news/AMZN/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt new file mode 100644 index 0000000000000000000000000000000000000000..e0450486bc3422bc88ca51d082472ea1496dc692 --- /dev/null +++ b/news/AMZN/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Activist investor Elliott Management takes stake in +Salesforce*Baker Hughes falls on missing Q4 profit estimates*Futures up: Dow 0.24%, S&P 0.16%, Nasdaq 0.20%Jan 23 (Reuters) - U.S. stock indexes were set to open +higher at the start of another big week for corporate earnings, +with Salesforce leading gains on Monday following news that +Elliott Management had acquired a stake.A slew of earnings in the coming weeks will also test the +recent bounce in certain technology and growth stocks that took +a large hit last year. The tech-focused Nasdaq index was +the only major Wall Street benchmark that ended the previous +week higher.Concerns of a possible recession amid a high interest rate +environment have hit growth-related sectors, driving major tech +companies such as Microsoft Corp, Amazon.com Inc +and Alphabet Inc to lay off thousands of +employees.Companies which make up more than half the S&P 500 index's +market value will report earnings in the next two weeks, +with Microsoft, the second-largest U.S. firm by market value, +posting results on Tuesday, Tesla Inc and IBM +on Wednesday and Intel on Thursday.Analysts now expect year-over-year fourth-quarter earnings +from S&P 500 companies to decline 2.9%, according to IBES +Refinitiv data, compared with a 1.6% decline at the beginning of +the year."It's going to be a situation where I'm expecting to hear +weakness, not strength from corporate America," said Adam +Sarhan, chief executive of 50 Park Investments in New York."It's much better to lower expectations and then beat weak +expectations then it is to raise your guidance or have strong +expectations and then miss."Investors also await January manufacturing and +fourth-quarter GDP data for a clearer picture of the impact the +Federal Reserve's aggressive rate hikes have had on the economy.Data recently has signaled cooling inflation but has also +highlighted a tight labor market that offers the central bank +room to stick with its aggressive policy tightening.Shares of cloud-based software firm Salesforce Inc +rose 4.7% in premarket trading to lead gains among Dow +components after activist investor Elliott Management Corp made +a multi-billion-dollar investment in the company, according to +people familiar with the matter.At 8:39 a.m. ET, Dow e-minis were up 79 points, or +0.24%, S&P 500 e-minis were up 6.25 points, or 0.16%, +and Nasdaq 100 e-minis were up 23.5 points, or 0.2%.Among other stocks, Baker Hughes Co slid 1.4% on +missing fourth-quarter profit estimates, hit by component +shortages and supply chain disruptions.Xylem Inc fell 8.3% on its acquisition of water +treatment solutions firm Evoqua Water Technologies Corp +in a $7.42 billion deal. Evoqua shares jumped 13.7%.Qualcomm Inc and Advanced Micro Devices Inc +climbed above 2% each, after brokerage Barclays upgraded the +chipmakers to "overweight" from "equal-weight".Western Digital Corp rose 4.0% on a report that the +memory chip maker could merge with Japan's Kioxia Holdings. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AMZN/2023.01.24/After a long, cold year, investors are flocking back to Europe.txt b/news/AMZN/2023.01.24/After a long, cold year, investors are flocking back to Europe.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d213fb1644fdb568ff34dc4dc0abaf0efb7707b --- /dev/null +++ b/news/AMZN/2023.01.24/After a long, cold year, investors are flocking back to Europe.txt @@ -0,0 +1,67 @@ +*Equity investors overweight Europe at 11-month high*Euro STOXX has beaten S&P by over 18 pct points since Sept*Euro on best three-month run since 2011 against the dollar*But analysts warn geopolitics remain a 'Sword of Damocles'MILAN/LONDON, Jan 24 (Reuters) - A European recession +looked like a no-brainer just a few weeks ago, but that picture +has changed dramatically, and investors have started pouring +money into the region's stocks, currency and bonds.Warmer temperatures and well-filled gas storage facilities +mean there's less concern about power shortages and sky-high +energy bills. That, along with China reopening its economy at +breakneck speed, promises a boost for Europe's export-oriented +economy.Figures on Tuesday on Tuesday showing euro zone business +activity made a surprise return to modest growth in January were +the latest indicator that the downturn in the bloc may not be as +deep as feared.JPMorgan has raised its forecast for euro zone first-quarter +economic growth to 1% from a contraction of 0.5%, echoing a +similar move from Goldman Sachs earlier this month, and data +from BofA Global Research on Friday showed the first weekly +inflow of investor money into European equity funds in almost a +year.Markets are picking up those positive vibes. The euro +is set for its largest three-month gain against the +dollar since 2011, having risen nearly 10%.European stocks have vastly outperformed their U.S. peers. +The euro STOXX benchmark has beaten its U.S. peer, the +S&P 500, by over 18 percentage points since September. +Morgan Stanley says this is its best outperformance in 20 years +relative to Wall Street."It's a very big move in European gas prices and that has +dramatically improved the outlook. The perception has shifted +from the worst kind of contraction, especially for countries +like Germany, to potentially avoiding recession," said Samy +Chaar, chief economist at Lombard Odier in Geneva."It's difficult to see a negative. Whether it's +investment-grade bonds, or equities, or the euro, it's all very +good news".Dutch natural gas futures, a regional +benchmark, have fallen back to where they were before Russia +invaded Ukraine and are down 80% from their August peak.Investors are allocating cash back to European equities and +cutting exposure to Wall Street, where pricey tech stocks are +getting hammered by rising rates.In terms of valuations, European blue-chips are trading at a +multiple of around 13, compared with a ratio of around 20 for +the S&P 500, according to Refinitiv data. That 7-point premium +is well above the five-year average of 1.5, suggesting that +European shares look cheap compared to the U.S.Roberto Lottici, portfolio manager at Banca Ifigest in +Milan, recently sold his Amazon position to buy +European banks like Intesa, BNP or Santander, +and utilities.That said, not everyone is upbeat.BofA European equity strategists, for example are +"positioned against (the) consensus view", as they feel recent +monetary tightening, the harshest in four decades, will lead to +a recession, which will drag down stocks.Even self-declared bulls are cautious.Banca Ifigest's Lottici said the "sword of Damocles" of the +war in Ukraine still dangles over Europe."Lower gas prices are surely a positive, but their rapid +fall also tell us that they can rise just as fast should things +go wrong. I'm managing my assets very carefully," he said.'RECOVERING IN A BIG WAY'The euro has stormed 15% higher against the dollar from +September's 20-year low of $0.9528 and some analysts think it +has much further to go."Europe is recovering in a big way," Nomura FX strategist +Jordan Rochester said. His bank expects the euro to reach $1.10 +by the end of January and $1.16 by year-end.The improvement in the European economy is also driving +flows into fixed income. Richard McGuire, head of rates strategy +at Rabobank, said while the impact of lower energy prices on +government bonds "has many moving parts... when you put them +together, we would argue that it's bullish."On the one hand, he said lower inflation and less need for +debt issuance to fund energy subsidies is positive for bonds, +but this has to be weighed against higher growth, which tends to +hurt traditional safe-haven.European peripheral debt has particularly benefited. The +Italian 10-year yield, the benchmark for non core +euro zone issuers, has fallen by 87 basis points year-to-date, +outpacing a 49 bps fall for the German equivalent +and 44 bps for the U.S. Yields move inversely to prices.Corporate credit has also got a lift. A closely watched +index of European corporate credit has seen its yield +fall nearly 50 basis points this year."We've been definitely increasing our weighting to credit, +we did most of that in October and November," said David Zahn, +head of European fixed income at Franklin Templeton."The credit markets in Europe were pricing in a recession, +and when you think a recession is going to be fairly mild, you +want to buy that".(Reporting by Alun John in London and Danilo Masoni in Milan; +graphics by Danilo Masoni; Editing by Bernadette Baum) \ No newline at end of file diff --git a/news/AMZN/2023.01.24/Alphabet-owned AI firm DeepMind shutters office in Canada's Edmonton.txt b/news/AMZN/2023.01.24/Alphabet-owned AI firm DeepMind shutters office in Canada's Edmonton.txt new file mode 100644 index 0000000000000000000000000000000000000000..fc94466582c72d2aaafb311ea83b1c94a7129de8 --- /dev/null +++ b/news/AMZN/2023.01.24/Alphabet-owned AI firm DeepMind shutters office in Canada's Edmonton.txt @@ -0,0 +1 @@ +London-based DeepMind's Edmonton office is the only international site directly managed by the artificial intelligence firm, making it far more resource-intensive to operate, the spokesperson said. All other DeepMind sites are housed within Google-managed offices.Alphabet's layoffs follow thousands of layoffs at tech giants including Amazon.com Inc, Microsoft Corp and Meta Platforms Inc, which are cutting costs and downsizing after a pandemic-led hiring spree left them flabby in a weak economy. Researchers have been offered the option to relocate to another DeepMind office, such as DeepMind Montreal, based in Google's Montreal office, the spokesperson added.Google acquired DeepMind in 2014, putting the tech giant ahead in the AI race than most of its peers. But competition escalated after Microsoft-backed OpenAI's chatbot ChatGPT boosted investor interest in the promise of generative artificial intelligence."I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI," Alphabet Chief Executive Sundar Pichai said in the blog post on Jan. 20. (Reporting by Chavi Mehta in Bengaluru and Jeffrey Dastin in Palo Alto; Editing by Maju Samuel) \ No newline at end of file diff --git a/news/AMZN/2023.01.24/Amazon Pharmacy Introduces Rxpass : Unlimited Prescription Medications for Only $5 a Month...txt b/news/AMZN/2023.01.24/Amazon Pharmacy Introduces Rxpass : Unlimited Prescription Medications for Only $5 a Month...txt new file mode 100644 index 0000000000000000000000000000000000000000..5789e30dafb46636a414a5c6781f584208827370 --- /dev/null +++ b/news/AMZN/2023.01.24/Amazon Pharmacy Introduces Rxpass : Unlimited Prescription Medications for Only $5 a Month...txt @@ -0,0 +1,25 @@ + +Amazon today announced RxPass, a new Prime membership benefit from Amazon Pharmacy that offers patients affordable access to commonly prescribed generic medications that treat more than 80 common health conditions. With RxPass, Prime members can receive all of their eligible medications for one flat, low monthly fee of $5, and have them delivered free of charge. There are no hidden fees and no markups to the $5 per month subscription. RxPass is available starting today in most U.S. states. + +“Prime members already get fast, free delivery on prescription medications, and RxPass is one more way to save with Amazon Pharmacy. Any customer who pays more than $10 a month for their eligible medications will see their prescription costs drop by 50% or more, plus they save time by skipping a trip to the pharmacy,” said John Love, vice president of Amazon Pharmacy. “We are excited to offer our customers surprisingly simple, low pricing on the eligible medications they need each month.” + +To enroll in RxPass, Prime members can go to Amazon.com or Amazon’s mobile app to create or update their Amazon Pharmacy profile. Once there, customers will be guided through a simple sign-up process that verifies their eligibility and prescription information. If customers have questions during the enrollment process or after a prescription arrives, Amazon pharmacists are on hand 24/7 to coordinate with a customer’s doctor or help with refills. + +Amazon Pharmacy offers choice and convenience, whether customers are paying with insurance or not. When not using insurance, Prime members now have two innovative, affordable options to pay for prescription medications. Prime members who typically take two or more medications per month to manage chronic or ongoing health conditions could save significant time and money with the $5 a month RxPass subscription. Alternately, Prime members can save with the Prime prescription savings benefit—available for no additional fee—to get discounts up to 80% off generic and 40% off brand name medications at more than 60,000 participating pharmacies nationwide, including Amazon Pharmacy and the PillPack by Amazon Pharmacy service. + +Amazon Pharmacy and PillPack by Amazon Pharmacy also welcome most health insurance plans, and offer low, transparent pricing for customers who use insurance to pay for their prescription medications. In addition, customers may use their HSA or FSA accounts when not paying with RxPass. + +To learn more about Amazon Pharmacy or to sign up for RxPass, visit amazon.com/rxpass. + +Every Day Made Better with Prime + +RxPass is the newest benefit available for Prime members. Prime membership offers the best of shopping, savings, and entertainment to make life every day more convenient, budget-friendly, and fun. In the U.S. that includes free, fast delivery on millions of items, unlimited streaming of movies and series like The Lord of the Rings: The Rings of Power and live sports like Thursday Night Football with Prime Video, ad-free listening of 100 million songs and millions of podcast episodes with Amazon Music, prescription medications as low as $1 per month and free two-day shipping from Amazon Pharmacy, ultrafast Fresh grocery delivery, in-store savings on select groceries at Amazon Fresh and Whole Foods Market stores across the U.S., unlimited photo storage with Amazon Photos, free gaming benefits with Prime Gaming, more than 3,000 books and magazines with Prime Reading, Buy with Prime, which offers Prime shopping benefits like fast, free delivery, a seamless checkout experience, and easy returns on online stores beyond Amazon.com, and exclusive deals and shopping events like Prime Day. Members can now also enjoy a free, one-year Grubhub+ membership trial valued at $9.99 per month, offering unlimited $0 delivery fees on orders over $12. Anyone can join Prime for just $14.99 per month or $139 per year, or start a free 30-day trial at amazon.com/prime. + +About Amazon Pharmacy + +Amazon Pharmacy is a full-service pharmacy in the Amazon.com store. Customers can use Amazon Pharmacy to purchase medications prescribed by their doctor and have them conveniently delivered to their door, with free two-day delivery for Prime members. At Amazon Pharmacy, we’re making pharmacy better—with upfront pricing, home delivery, and pharmacists available 24/7. We also support PillPack by Amazon Pharmacy, a service for people who manage multiple daily medications. Learn more at amazon.com/pharmacy. + +About Amazon + +Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230124005495/en/ \ No newline at end of file diff --git a/news/AMZN/2023.01.24/Amazon deepens healthcare push with $5 monthly subscription.txt b/news/AMZN/2023.01.24/Amazon deepens healthcare push with $5 monthly subscription.txt new file mode 100644 index 0000000000000000000000000000000000000000..676cacd950fa6fddd0ea834f1e31940a3f43c4c1 --- /dev/null +++ b/news/AMZN/2023.01.24/Amazon deepens healthcare push with $5 monthly subscription.txt @@ -0,0 +1 @@ +The program, named RxPass, includes more than 50 medications addressing over 80 chronic conditions such as high blood pressure, anxiety, diabetes and male pattern baldness, Vin Gupta, Amazon Pharmacy's chief medical officer, told Reuters.However, customers enrolled in Medicare, Medicaid or any other government healthcare program will not be able to enroll in Amazon Pharmacy's RxPass service.The average Prime member would save about $100 per year with RxPass, John Love, vice president of Amazon Pharmacy, said in an interview. Amazon Prime members in most U.S. states can sign up for the program from Tuesday.The flat $5 charge would be without insurance and on top of the Prime membership fee, which costs $139 per year in the United States. The new service aligns with Amazon's ongoing focus on its healthcare portfolio, which over the recent years has included telehealth, drug delivery, fitness trackers, and cancer research.Amazon's purchase of online pharmacy PillPack in 2018 helped the retail giant set up a prescription delivery and price-comparison site. Now, its Pharmacy initiative poses a growing threat to drugstore retailers CVS Health Corp and Walgreens Boots Alliance Inc.  "We believe a lot of Americans, particularly those that suffer from a chronic illness, are going to benefit from just Amazon's participation in pharmacy, the ability to get high-quality experience delivered to your door at low cost," Love said. (Reporting by Jeffery Dastin in Palo Alto, California and Chavi Mehta in Bengaluru; Editing by Devika Syamnath)By Jeffrey Dastin and Chavi Mehta \ No newline at end of file diff --git a/news/AMZN/2023.01.24/Amazon warehouse workers at Coventry walk out over pay in UK first.txt b/news/AMZN/2023.01.24/Amazon warehouse workers at Coventry walk out over pay in UK first.txt new file mode 100644 index 0000000000000000000000000000000000000000..b5c4dda113610f8b8729d267596508a1d1ad9f64 --- /dev/null +++ b/news/AMZN/2023.01.24/Amazon warehouse workers at Coventry walk out over pay in UK first.txt @@ -0,0 +1 @@ +About 300 employees in Coventry are expected to take part in the industrial action, according to the trade union GMB.Amazon increased starting pay by 50 pence to a minimum of between 10.50 and 11.45 pounds ($12.95 to $14.12) per hour last year. The country's minimum wage, which is currently 9.50 pounds an hour, is set to rise to 10.42 in April.Britain is facing its worst industrial unrest since Margaret Thatcher's leadership, with staff in crucial sectors from nurses and ambulance workers to railways and lawyers staging strikes in fights for better pay to deal with surging inflation. Setting out the strike date earlier this month, GMB Senior Organiser Amanda Gearing urged Amazon to give workers "a proper pay rise," saying staff at one of the world's most valuable companies should not have to strike to "win a wage they can live on." Amazon, which employs thousands of workers across its 30 warehouses in the UK, had then responded to say its pay was competitive.Darren Westwood, who says he has been at Amazon for three and a half years, told Reuters that the latest pay rise was not enough, as wage growth has lagged inflation, which hit a 41-year high of 11.1% at one point last year."None of us want to strike. We'd all rather be in the warmth inside than be drinking tea out here in the cold, but it's come to that point now where the cost of living has just gone crazy," he said ahead of the walkout.($1 = 0.8108 pounds) (Reporting by Muvija M; Editing by Lisa Shumaker)By Muvija M \ No newline at end of file diff --git a/news/AMZN/2023.01.24/Factbox-Biden administration continues Trump antitrust focus on tech giants.txt b/news/AMZN/2023.01.24/Factbox-Biden administration continues Trump antitrust focus on tech giants.txt new file mode 100644 index 0000000000000000000000000000000000000000..e28d244dea1d460456e46df8ab4b1215805ca2c7 --- /dev/null +++ b/news/AMZN/2023.01.24/Factbox-Biden administration continues Trump antitrust focus on tech giants.txt @@ -0,0 +1 @@ +Following are major U.S. government lawsuits and investigations regarding Big Tech.Google: The U.S. Justice Department sued Google on Tuesday, accusing the company of abusing its dominance of the digital advertising business and saying Google should be forced to sell its ad manager suite, in the government's latest attempt to slice away a portion of Big Tech's power. The U.S. Justice Department had previously sued Google in October 2020, accusing the $1 trillion company of illegally using its market muscle to hobble rivals in search. This case is scheduled to go to trial in September.Dozens of U.S. states and territories filed a broader version of the Justice Department lawsuit in December 2020. The state complaint accuses Google of abusing its market power to try to make its search engine as dominant inside cars, TVs and speakers as it is in phones. The same judge is hearing both the federal and state lawsuits in D.C. federal court. Also in 2020, Texas, backed by nine other states, filed a lawsuit against Google, accusing the internet search company of breaking antitrust law in how it runs its online advertising business. The case was moved to New York, to be heard with other, similar cases.The Justice Department is also probing Google to determine if bundling its Maps product with other Google software illegally stifles competition. Facebook:The Federal Trade Commission and a big group of states filed separate lawsuits to ask a court to force Meta Platforms to sell WhatsApp and Instagram, saying the social media company used a "buy or bury" strategy to snap up rivals and keep smaller competitors at bay. The judge threw out the state lawsuit on the grounds that they had waited too long to bring their case. The states have appealed while the FTC complaint goes forward. Apple: The Justice Department has a probe into Apple underway, which was revealed in June 2019. It appears to focus on Apple's app store. Some app developers have accused Apple of introducing new products very similar to existing apps created by other developers and sold in the Apple Store, and then trying to banish the older apps from the store because they compete with Apple's new product. Apple says it seeks to have only the highest-quality products in the app store.Amazon: In its investigation of Amazon, the FTC is believed to be probing the inherent conflict of interest of Amazon competing with small sellers on its marketplace platform, including allegations that it used information from sellers on its platform to decide what products it would introduce. (Reporting by Diane Bartz; Editing by Lisa Shumaker) \ No newline at end of file diff --git a/news/AMZN/2023.01.24/India's TVS Motor beats third-quarter profit estimates on price increases.txt b/news/AMZN/2023.01.24/India's TVS Motor beats third-quarter profit estimates on price increases.txt new file mode 100644 index 0000000000000000000000000000000000000000..8b3f3ff517bfaa8090f9a729b95376ba33a61d2d --- /dev/null +++ b/news/AMZN/2023.01.24/India's TVS Motor beats third-quarter profit estimates on price increases.txt @@ -0,0 +1 @@ +Corporate India raised prices of everything from toothpaste to scooters in recent quarters as costs shot up due to the Russia-Ukraine war.TVS' profit climbed nearly 22% to 3.53 billion Indian rupees ($43.25 million) for the quarter ended Dec. 31, with analysts attributing a bulk of it to price increases. Analysts had expected a profit of 3.43 billion rupees, according to Refinitiv data.The Tamil Nadu-based company, which makes the popular Apache bikes and Jupiter scooters, said sales volumes were roughly flat from a year earlier even as export volumes declined.TVS', which operates in 80 countries including South Africa, Argentina and Sri Lanka, revenue from operations rose to 65.45 billion rupees from 57.06 billion rupees.Sales of electric vehicles (EV) for the third quarter nearly doubled from the previous quarter, according to TVS, which has tied up with Amazon India to boost its EV business.Analysts now expect TVS and other two-wheeler makers, including Bajaj Auto and Hero MotoCorp, to book margin benefits in the coming quarters as prices of commodities are easing off their highs.However, they would still need to bet on a rebound in demand from rural India as customers, reeling from the impact of high inflation, are wary of spending on pricey goods and committing to instalment plans.Shares in TVS, which climbed nearly 73% last year and outperformed Nifty Auto index's 15% increase, closed marginally higher. TVS also declared an interim dividend of 5 rupees per share.($1 = 81.6100 Indian rupees) (Reporting by Praveen Paramasivam in Chennai; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/AMZN/2023.01.24/U.S. targets Google's online ad business monopoly in latest Big Tech lawsuit.txt b/news/AMZN/2023.01.24/U.S. targets Google's online ad business monopoly in latest Big Tech lawsuit.txt new file mode 100644 index 0000000000000000000000000000000000000000..a3cab28ebd99a518b7ed0f0a7db1bf5a3f4346ad --- /dev/null +++ b/news/AMZN/2023.01.24/U.S. targets Google's online ad business monopoly in latest Big Tech lawsuit.txt @@ -0,0 +1,74 @@ +WASHINGTON, Jan 24 (Reuters) - The U.S. Justice +Department accused Alphabet Inc's Google on Tuesday of +abusing its dominance in digital advertising, threatening to +dismantle a key business at the heart of one of Silicon Valley's +most successful internet companies.The government said Google should be forced to sell its ad +manager suite, tackling a business that generated about 12 +percent of Google's revenues in 2021, but also plays a vital +role in the search engine and cloud company's overall sales."Google has used anticompetitive, exclusionary, and unlawful +means to eliminate or severely diminish any threat to its +dominance over digital advertising technologies," the antitrust +complaint said.Google, whose advertising business is responsible for about +80% of its revenue, said the government was "doubling down on a +flawed argument that would slow innovation, raise advertising +fees, and make it harder for thousands of small businesses and +publishers to grow."The federal government has said its Big Tech investigations +and lawsuits are aimed at leveling the playing field for smaller +rivals to a group of powerful companies that includes Amazon.com +, Facebook owner Meta Platforms and Apple Inc +."By suing Google for monopolizing advertising technology, +the DOJ today aims at the heart of the internet giant’s power," +said Charlotte Slaiman, competition policy director at Public +Knowledge. "The complaint lays out the many anticompetitive +strategies from Google that have held our internet ecosystem +back."Tuesday's lawsuit by the administration of President Joe +Biden, a Democrat, follows a 2020 antitrust lawsuit brought +against Google during the term of Donald Trump, a Republican.The 2020 lawsuit alleged violations of antitrust law in how +the company acquires or maintains its dominance with its +monopoly in online search and is scheduled to go to trial in +September.EIGHT STATES IN LAWSUITEight states joined Tuesday's lawsuit, including Google's +home state of California.California State Attorney General Rob Bonta said that +Google's practices have "stifled creativity in a space where +innovation is crucial."Colorado Attorney General Phil Weiser said that Google's +dominance had led to higher fees for advertisers and less money +for publishers with ad space to offer. "We are taking action by +filing this lawsuit to unwind Google’s monopoly and restore +competition to the digital advertising business," he said in a +statement.Google shares were down 1.9 percent on Tuesday.In addition to its well-known search, which is free, Google +makes revenue through its interlocking ad tech businesses. The +government asked for the divestiture of the Google Ad Manager +suite, including Google's ad exchange, AdX.Google Ad Manager is a suite of tools including one that +allows websites to offer advertising space for sale and an +exchange that serves a marketplace that automatically matches +advertisers with those publishers.Advertisers and website publishers have complained that +Google has not been transparent about where ad dollars go, +specifically how much goes to publishers and how much to Google.The lawsuit raises concerns about certain products in the ad +tech stack, where publishers and advertisers use Google's tools +to buy and sell ad space on other websites. That business was +about $31.7 billion in 2021 or 12.3 percent of Google’s total +revenue. About 70% of that revenue goes to publishers.An ad tech divestiture "may not be a game changer but it +could be sneaky important to Google's ad targeting capability," +said Paul Gallant with the Cowen Washington Research Group."It connects to all of Google's other businesses and +ties them together. I think Google might be more concerned about +losing ad tech down the road than people might think," Gallant +said.The company made a series of purchases, including +DoubleClick in 2008 and AdMob in 2009, to help make it a +dominant player in online advertising.'PROJECT POIROT'While Google remains the market leader by a long shot, +its share of the U.S. digital ad revenue has been eroding, +falling to 28.8% last year from 36.7% in 2016, according to +Insider Intelligence.The Justice Department asked for a jury to decide the case, +which was filed in the U.S. District Court for the Eastern +District of Virginia.The lawsuit lays out a number of Google's attempts to +dominate the advertising market.The complaint discussed header bidding, which was a way that +companies could bypass Google to bid on ad space on websites.It lays out a series of projects including one dubbed +"Project Poirot" named after Agatha Christie’s master detective, +Hercule Poirot. The project "was designed to identify and +respond effectively to ad exchanges that had adopted header +bidding technology."The 149-page complaint said Google doubled down after +Project Poirot's initial success in manipulating its +advertisers' spending to reduce competition from rival ad +exchanges. Rivals AppNexus/Xandr lost 31% of DV360 advertiser +spending, Rubicon would lose 22%, OpenX would lose 42%, and +Pubmatic would lose 26%, the complaint said.(Reporting by Diane Bartz and David Shepardson; additional +reporting by Sheila Dang; editing by Chris Sanders and Grant +McCool) \ No newline at end of file diff --git a/news/AMZN/2023.01.24/Walmart to raise minimum wage for U.S. hourly workers to $14.txt b/news/AMZN/2023.01.24/Walmart to raise minimum wage for U.S. hourly workers to $14.txt new file mode 100644 index 0000000000000000000000000000000000000000..39bdc1ac9f3601e8d49e00ed45f93d5ba747f9ac --- /dev/null +++ b/news/AMZN/2023.01.24/Walmart to raise minimum wage for U.S. hourly workers to $14.txt @@ -0,0 +1,29 @@ +Jan 24 (Reuters) - Walmart Inc on Tuesday said +it will raise average hourly wages for its U.S. store workers +starting next month, as it seeks to attract and retain employees +in a tight domestic labor market.Walmart's new wage hikes lift its average hourly wage +pay to $17.50 from the current $17 an hour and will reflect in +March 2 paychecks, the company said. The minimum wage will rise +by as much as $2 for staff at its U.S. stores to a range of +$14-$19 per hour, depending on location, a spokesperson said in +an email, adding that about 340,000 workers at about 3,000 +stores will be eligible.Walmart employs 1.6 million U.S. workers, a majority of whom +work in rural and semi-urban areas.The hikes, however, still lag rivals including Amazon +, Costco and Target, which have been +offering minimum pay of atleast $15 an hour since 2021.Walmart's move comes as U.S. wage growth moderates. Data +from earlier this month showed average hourly earnings growth +for U.S. workers slowed to 0.3% in December, compared with 0.4% +in the prior month.Still, the labor market is resilient with rate of +unemployment falling to a 5-decade low of 3.5% in December and +number of job openings far outpacing the number of unemployed.This has raised prospects that the U.S. Federal Reserve +could further raise interest rates, putting further strain on +minimum wage workers and household budgets.The wage increases are a combination of regular annual +increases and targeted investments in starting rates, the +company said in a statement on Tuesday.Walmart's new round of hikes come six months after it raised +the average pay for pharmacy workers to more than $20 per hour +and said it would offer more frequent and automatic pay raises +as part of a new "progressive wage model" to fight labor +shortages. It has previously also raised pay for truck drivers +and distribution center workers. +(Reporting by Siddharth Cavale in New York and Uday Sampath in +Bengaluru; Editing by Devika Syamnath and David Gregorio) \ No newline at end of file diff --git a/news/AMZN/2023.01.25/AMAZON COM INC : Gets a Buy rating from UBS.txt b/news/AMZN/2023.01.25/AMAZON COM INC : Gets a Buy rating from UBS.txt new file mode 100644 index 0000000000000000000000000000000000000000..115b7a11e8d0d50974610a282f05133305c493b5 --- /dev/null +++ b/news/AMZN/2023.01.25/AMAZON COM INC : Gets a Buy rating from UBS.txt @@ -0,0 +1 @@ +UBS is positive on the stock with a Buy rating. The target price differs slightly and is now set at USD 118 versus USD 121. \ No newline at end of file diff --git a/news/AMZN/2023.01.25/Amazon workers hold first UK strike, adding to labor turmoil.txt b/news/AMZN/2023.01.25/Amazon workers hold first UK strike, adding to labor turmoil.txt new file mode 100644 index 0000000000000000000000000000000000000000..90f91de990dbe79083696b19380a1e917a4c428b --- /dev/null +++ b/news/AMZN/2023.01.25/Amazon workers hold first UK strike, adding to labor turmoil.txt @@ -0,0 +1 @@ +LONDON (AP) — Amazon warehouse workers went on strike for the first time in Britain on Wednesday because of a dispute over pay and working conditions, adding to a wave of industrial labor action across the country fueled by the soaring cost of living.Union members voted to walk off the job for one day at the e-commerce giant's fulfillment center in Coventry, a city about 100 miles (160 kilometers) northwest of London near Birmingham.Amanda Gearing, a senior organizer with the GMB union, said Amazon staff who worked through tough conditions during the COVID-19 pandemic are just “trying to get decent pay." Another big issue is performance targets set by an algorithm that piles extra pressure on workers, she said.The union is fighting for a bigger pay raise than the company's offer, which it says amounts to an extra 50 pence (61 cents) an hour.Amazon, which operates 30 fulfillment centers in the United Kingdom, said 2,000 workers are employed at the Coventry facility. The union says 98% of those who took part in the vote decided to strike, and Amazon said that amounts to only 178 workers.The company said it's offering “competitive pay” starting at 10.50 to 11.45 pounds an hour, depending on location. Amazon says that is a 29% increase in the minimum hourly wage for employees since 2018.Business at Seattle-based Amazon boomed during the pandemic but, like other tech companies, it has been reversing recent expansions as it faces economic uncertainty. This month, it announced 18,000 layoffs.Amazon staff are the latest group of British workers to join the picket lines as high food and energy prices drive the highest inflation in decades. Nurses, ambulance workers, train drivers, border staff, driving instructors, bus drivers, teachers and postal workers have all walked off their jobs in recent months to demand higher pay amid the cost-of-living crisis.Amazon routinely faces protests and walkouts from workers who want higher wages and better working conditions, including elsewhere in Europe, such as Spain and Germany.Last year on Black Friday, a coalition of unions and advocacy groups coordinated walkouts in more than 30 countries under a campaign called “Make Amazon Pay.” Organizers said they wanted the company to boost pay for hourly workers, extend sick leave and end its effort to fend off unionization, among other things.In October, the company suspended dozens of workers at a New York warehouse after many of them staged a protest and refused to return to their shifts following a trash compactor fire.AP Business Writer Haleluya Hadero in New York contributed to this report.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.01.25/AmazonSmile's end is alarming, say nonprofits that benefited.txt b/news/AMZN/2023.01.25/AmazonSmile's end is alarming, say nonprofits that benefited.txt new file mode 100644 index 0000000000000000000000000000000000000000..b22fb00067a2f1b390b8310037011512ba6b4653 --- /dev/null +++ b/news/AMZN/2023.01.25/AmazonSmile's end is alarming, say nonprofits that benefited.txt @@ -0,0 +1 @@ +Amazon's surprise decision to shut down its AmazonSmile donation program has left thousands of its nonprofit beneficiaries disappointed and concerned about finding ways to replace the funding.The e-commerce giant had launched AmazonSmile in 2013, contributing 0.5% of every purchase made by participating customers to the charity of their choosing. As of 2022, the company said it has donated $449 million to various charities.Before it ends the program next month, Amazon says, it will provide a final donation to each of the 1 million-plus nonprofits that used AmazonSmile, equivalent to 25% of what the charity received from the program in 2022.Some of the e-commerce giant's competitors, including Walmart and Target, have their own community donation programs that somewhat resemble AmazonSmile.But nonprofits say they feel let down.Tenisha Taylor says she felt Amazon insulted her Chicago nonprofit's work by saying its program hadn't provided enough of an impact for its charitable beneficiaries.“You haven’t talked to me," said Taylor, who founded the Ezekiel Taylor Foundation, which provides scholarships to young Black men from Chicago whose lives have been affected by gun violence. "You haven’t seen my bottom line of impact of these brilliant young men that I have walking on campuses across this country.”Taylor noted the huge disparity between the wealth of Amazon’s founder, Jeff Bezos, and the small amounts that nonprofits use to try to make their communities healthier and safer.“We are making this company (Amazon) rich — we are,” said Taylor referring to communities of color like hers. “At the very least, they can be good corporate citizens to pay it forward in the communities that are patronizing them.”Amazon's decision to end the program was part of a strategic shift to support initiatives that work on a larger scale, like its $2 billion contribution to build affordable housing, said Patrick Malone, a company spokesperson. After 10 years, he said, it was time to reevaluate the program. He said the move is not a criticism of the nonprofits it supported.The company also recently announced that it would lay off 18,000 employees and cut other less profitable parts of its business.Taylor and other nonprofit founders say they are angry that Amazon didn't give them an earlier warning about the program's end. Many nonprofits had promoted AmazonSmile in their own fundraising appeals because the program provided them with a passive revenue stream from Amazon customers.Lauren Wagner, executive director of the Long Island Arts Alliance, based in Patchogue, New York, said she had encouraged the nonprofits she supports to sign up for AmazonSmile. Now, she’s concerned that her organization doesn’t know the identity of those customers and wants Amazon to seek permission to share that information with nonprofits.Malone said Amazon had notified customers of the program’s end and has no plans to share customer information with nonprofits.Wagner said she contacted Amazon many times over the years to suggest improvements to the program. Among her suggestions were allowing users to donate without specifically going to smile.amazon.com and providing the option to donate when shopping on the Amazon app, something the company eventually allowed.“They certainly never listened to any of the emails that were sent or they never surveyed us," she said. "They never got our input on how to make it more impactful.”A former Amazon employee, Adam Goldstein, said he, too, doubts how interested the company was in improving the program. For three years at Amazon, Goldstein said, he helped nonprofits claim donations, which he said felt was personally rewarding. But he didn't get the impression that the company cared deeply about giving back to the community.“I only ever got the sense that it was really just about Amazon’s bottom line, and the charitable giving was marketing fodder,” Goldstein said.Goldstein, who went on to become a grant writer and now works for a jobs initiative in Seattle, said he was told by a senior marketing manager that the program had been created to encourage customers to buy directly from Amazon rather than clicking through from a Google search for the product. That saved Amazon from having to pay a fee to Google.Malone said that was not true. He said AmazonSmile was launched to allow customers to direct donations to a charity of their choosing, in what he called a win-win.Kari Niedfeldt-Thomas, a managing director of Chief Executives for Corporate Purpose, a business coalition that advises companies on social responsibility issues, said she was not surprised by Amazon’s decision to eliminate the program.“A lot of companies start out their corporate community investment programs with what we would refer to as a ‘confetti approach’ — they give to everyone and everyone’s really excited,” Niedfeldt-Thomas said. “Then, over time, we see companies moving their strategic pillars to what we would refer to as a more ‘concentrated approach.’ ”In its letter to customers, Amazon said it would “pursue and invest in other areas where we’ve seen we can make meaningful change — from building affordable housing to providing access to computer science education for students in underserved communities.”Niedfeldt-Thomas said her coalition considers companies that donate more than 1% of their pre-tax profits to be “good corporate citizens.” According to Amazon's 2021 financials, it donates much more than that. Malone said the company wants to focus its philanthropic work around its strengths — by, for example, mobilizing large responses during disasters or distributing food aid.The business coalition’s research for 2021 shows that corporate donations were down slightly compared to 2020, when companies accelerated contributions to combat the COVID-19 pandemic, Niedfeldt-Thomas said. She noted that the current economic climate, with inflation and recession concerns, may also cause further decline.Though some corporations were “leveling off” in their giving, Niedfeldt-Thomas said her coalition found that 58% of the companies surveyed increased their total community investment between 2019 and 2021 and 35% of companies increased their budgets by more than 25%.Walmart last year launched a community donation program called Spark Good, in addition to its existing philanthropic efforts that are directed through its store managers. The new program, Spark Good, like AmazonSmile, allows customers to select the nonprofit they want to support when they shop online with Walmart, and lets them buy goods from a nonprofit's registry.Unlike AmazonSmile, Spark Good does not donate a percentage of a customer's sale. Rather, it allows them to round up their payment to the nearest dollar.Julie Gehrki, Walmart's vice president of philanthropy, said that Spark Good was designed with input from nonprofits and that it lets them engage with customers in the ways that feel relevant to their organization.“We started with this idea that we could help connect customers to issues they care about,” she said. “We could make their daily shopping experience one that allows them to give back to who they want to and that, in aggregate, that would make a big difference.”Wagner and Taylor said they hoped Amazon would reinstate the program. The small donations they received from customers, they said, were always helpful.While working at Amazon, Goldstein said, he frequently saw how valuable even the smallest donations were to nonprofits.“When Amazon says it wasn’t the impact that we really wanted, I think the big question is: what was the impact that you wanted?” he said. “And what I hear is, the impact on Amazon’s bottom line isn’t what they wanted.”Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.01.25/British Amazon workers strike in first for the tech giant.txt b/news/AMZN/2023.01.25/British Amazon workers strike in first for the tech giant.txt new file mode 100644 index 0000000000000000000000000000000000000000..e7338358d727ff1761173c7d10d06152cbfeedfa --- /dev/null +++ b/news/AMZN/2023.01.25/British Amazon workers strike in first for the tech giant.txt @@ -0,0 +1 @@ +Workers at an Amazon warehouse in Britain walked out Wednesday in a strike over pay and conditions, the first time the U.S. tech giant has been hit by industrial action in the country.An estimated 300 of the 1,400 employees at the fulfillment center in the city of Coventry, about 90 miles north of London, are expected the join the action, according to the GMB Union which organized the strike.A news release on the union's website said the workers were angry over a $0.62-an-hour pay offer from the company and that if Amazon failed to come to the negotiating table, Wednesday's 24-hour walkout would be followed by further strikes.The union is seeking a raise to $18.50 an hour, up from the current $12.90 rate, to bring pay in line with Amazon employees in the United States, and improved working conditions.''Amazon workers in Coventry are set to make history on Jan. 25. They've shown they're willing to put themselves on the line to fight for what's right,'' said the news release."But people working for one of the most valuable companies in the world shouldn't have to threaten strike action just to win a wage they can live on."GMB urges Amazon U.K. bosses to give workers a proper pay rise and avoid industrial action altogether."According to the GMB, Amazon U.K. reported that it paid just $13.3 million in tax in 2021, despite recording a pre-tax profit of $251.3 millionHowever, the GMB is not recognized by Amazon and therefore is currently unable to negotiate with the company on behalf of its members.Amazon, which has insisted its pay rates are "competitive," told CNBC in a statement that the staff taking part in the industrial action represented "only a fraction of 1% of our U.K. employees."It added that pay for Amazon's U.K. warehouse workers has increased 29% since 2018, and pointed to a $616 one-time payment it had made to help employees with the cost-of-living crisis.In April workers at an Amazon warehouse in New York voted to establish the first-ever labor union in the company's history.The Amazon strikes come amid a winter of industrial discontent in Britain not seen since the late 1970s with wave after wave of strikes in sectors ranging from the railways and the postal service to health care and the civil service.Earlier this month, Amazon announced it would cut 18,000 jobs globally throughout the year, as CEO Andy Jassy cited uncertain economic conditions and a wave of rapid hirings in the past.Copyright 2023 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source International Top News \ No newline at end of file diff --git a/news/AMZN/2023.01.25/Google says U.S. Justice Department complaint is 'without merit'.txt b/news/AMZN/2023.01.25/Google says U.S. Justice Department complaint is 'without merit'.txt new file mode 100644 index 0000000000000000000000000000000000000000..1138b3675f90fb87ed59bb2fab5280323a85bc54 --- /dev/null +++ b/news/AMZN/2023.01.25/Google says U.S. Justice Department complaint is 'without merit'.txt @@ -0,0 +1 @@ +The company also added it will "defend itself vigorously".The government on Tuesday said Google should be forced to sell its ad manager suite, tackling a business that generated about 12% of Google's revenue in 2021 while also playing a vital role in the search engine and cloud company's overall sales.Google, which depends on its advertising business for about 80% of its revenue, said the government was "doubling down on a flawed argument that would slow innovation, raise advertising fees and make it harder for thousands of small businesses and publishers to grow."The federal government has said its Big Tech investigations and lawsuits are aimed at leveling the playing field for smaller rivals who are up against a group of powerful companies that include Amazon.com, Facebook-owner Meta Platforms and Apple Inc."In contrast with prior cases/investigations against Google's ad tech biz, we view the DOJ complaint as fairly substantive and preempting some potential Google lines of defense," said Wells Fargo analyst Brian Fitzgerald. (Reporting by Tiyashi Datta and Nivedita Balu in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/AMZN/2023.01.25/IBM cuts 3,900 jobs, misses annual cash target.txt b/news/AMZN/2023.01.25/IBM cuts 3,900 jobs, misses annual cash target.txt new file mode 100644 index 0000000000000000000000000000000000000000..1ea8ba8ce6002b3fafd83f3309c310a50dd72b19 --- /dev/null +++ b/news/AMZN/2023.01.25/IBM cuts 3,900 jobs, misses annual cash target.txt @@ -0,0 +1,32 @@ +Jan 25 (Reuters) - IBM Corp on Wednesday +announced 3,900 layoffs as part of some asset divestments and +missed its annual cash target, dampening cheer around beating +revenue expectations in the fourth quarter.Chief Financial Officer James Kavanaugh told Reuters that +the company was still "committed to hiring for client-facing +research and development".The layoffs - related to the spinoff of its Kyndryl +business and a part of AI unit Watson Health - will cause a $300 +million charge in the January-March period, IBM said.Shares of the company fell 2% in extended trading, erasing +earlier gains on the largely upbeat results. Analysts said news +of the job cuts and free cash flow miss was behind the drop."It seems as if the market is disappointed by the size of +its announced job cuts, which only amounted to 1.5% of its +workforce," said Jesse Cohen, senior analyst at Investing.com."Investors were hoping for deeper cost-cutting measures."From Big Tech to Wall Street banking majors, U.S. companies +have been downsizing in earnest and slashing costs to better +cope with the global economic downturn.IBM's 2022 cash flow was $9.3 billion, below its target of +$10 billion, due to higher-than-expected working capital needs.The company also forecast annual revenue growth in the +mid-single digits on constant currency terms, weaker than the +12% it reported last year, as pandemic-led demand for digitizing +businesses has given way to cautious spending by clients amid +rising recession fears.In October, IBM flagged softness in new bookings in Western +Europe while peer Accenture Plc noted weakness in its +consulting business. Cognizant Technology Solutions Corp +in November cut its 2022 forecast due to a pullback in +contracts.IBM's software and consulting business growth slowed down +sequentially in the fourth quarter, but cloud spending was a +bright spot, with deal signings doubling in 2022 for setting up +services with partners such as Amazon.com's AWS and +Microsoft's Azure.Its hybrid cloud revenue rose 2% in the quarter ended Dec. +31.Total revenue was flat at $16.69 billion in the period, +compared with analysts' estimates of $16.40 billion, according +to Refinitiv.For 2022, IBM recorded revenue growth of 5.5%, its highest +in a decade.(Reporting by Chavi Mehta in Bengaluru; Editing by Devika +Syamnath) \ No newline at end of file diff --git a/news/AMZN/2023.01.25/IBM reports highest annual revenue growth in a decade.txt b/news/AMZN/2023.01.25/IBM reports highest annual revenue growth in a decade.txt new file mode 100644 index 0000000000000000000000000000000000000000..32d3e3f7f13f158b5bfdddef5799208a6ae860cc --- /dev/null +++ b/news/AMZN/2023.01.25/IBM reports highest annual revenue growth in a decade.txt @@ -0,0 +1 @@ +The IT software and consulting company also forecast annual revenue growth in the mid-single digits on constant currency terms, weaker than the 12% it reported for 2022 but in line with mid-term targets announced in 2021. Analysts have raised concerns if IBM would be able to deliver on that considering the turbulent macroeconomic backdrop.Big Blue's forecast for slower growth comes after a boom over the pandemic when companies splurged on digitizing their operations. Now, rising borrowing costs and recession fears are forcing businesses to tighten spending. IBM in October flagged softness in new bookings in Western Europe while peer Accenture Plc also noted weakness in its consulting business. Cognizant Technology Solutions Corp in November cut its 2022 forecast due to a pullback in contracts.Still, IBM Chief Financial Officer James Kavanaugh told Reuters on Wednesday that the company is seeing its consulting business grow in terms of cloud spending. Its deal signings doubled in 2022 for setting up services with hyperscaler partners such as Amazon.com's AWS and Microsoft's Azure, he said. "I can't stress that enough ... enterprise clients are looking at how they can better optimize their application portfolio and consumption requirement." Analysts also expect digitization and cloud-related contracts to stay more resilient than other IT projects. IBM's full-year revenue grew 5.5% to $60.53 billion thanks to its shift to the so-called "hybrid cloud" strategy - where the company helps clients set up their own data centers and use leased computing resources. Its hybrid cloud revenue rose 2% to $6.3 billion in the reported quarter.The 110-year old company, which makes more than half of its revenue outside the United States, said it expects a neutral foreign exchange impact on its business this year as the U.S. dollar weakens. It booked a forex hit of more than $1 billion during the fourth quarter.Total revenue growth was flat at $16.69 billion in the quarter ended Dec. 31, compared with analysts' estimates of $16.40 billion, according to Refinitiv data.Graphic: https://www.reuters.com/graphics/IBM-RESULTS/gdvzqwomjpw/chart.png (Reporting by Chavi Mehta in Bengaluru; Editing by Devika Syamnath)By Chavi Mehta \ No newline at end of file diff --git a/news/AMZN/2023.01.25/Juan Valdez coffee exec gets 3-6 years prison in New York over $900,000 theft.txt b/news/AMZN/2023.01.25/Juan Valdez coffee exec gets 3-6 years prison in New York over $900,000 theft.txt new file mode 100644 index 0000000000000000000000000000000000000000..eb5cac2600ed60e5f9c6ab2332ce1cbc8f956e5f --- /dev/null +++ b/news/AMZN/2023.01.25/Juan Valdez coffee exec gets 3-6 years prison in New York over $900,000 theft.txt @@ -0,0 +1 @@ +Rosita Joseph, 52, the former chief operating officer of NFCGC Investments Inc, was sentenced on Wednesday by Justice Laura Ward of the Manhattan criminal court, after pleading guilty to one count of grand larceny in the second degree.Manhattan District Attorney Alvin Bragg said in a statement that Joseph "brazenly fleeced her employer" over more than five years to inflate her paychecks, pay for expensive vacations including to the Bahamas and Barbados, and buy gold and diamond jewelry and Gucci accessories on Amazon.com.The Brooklyn resident was sentenced after reaching a plea agreement. Her lawyer Liam Malanaphy said in an email: "In expressing profound remorse, Ms. Joseph took full responsibility for her actions."NFCGC manages U.S. retail sales of Juan Valdez coffee and several Juan Valdez cafes. Its parent Procafecol SA, which was created by the Colombian Coffee Growers Federation, represents the interests of coffee growers and operates Juan Valdez cafes.Prosecutors said NFCGC fired Joseph after she had refused numerous document requests for a routine financial audit. Joseph had faced up to 15 years in prison on the grand larceny charge. (Reporting by Jonathan Stempel in New York; Editing by Alistair Bell)By Jonathan Stempel \ No newline at end of file diff --git a/news/AMZN/2023.01.25/Microsoft's dour outlook raises red flags for tech sector.txt b/news/AMZN/2023.01.25/Microsoft's dour outlook raises red flags for tech sector.txt new file mode 100644 index 0000000000000000000000000000000000000000..0e9b4efc2f021805892d09871a1465e381b4aeb7 --- /dev/null +++ b/news/AMZN/2023.01.25/Microsoft's dour outlook raises red flags for tech sector.txt @@ -0,0 +1 @@ +(Reuters) - Microsoft Corp's lackluster quarterly outlook points to more gloom ahead for the tech sector, analysts said, after the tech bellwether warned its customers were cautious about spending in a turbulent economy.   Microsoft, the second most valuable U.S. company, sounded a cautious note in its quarterly earnings report as a steep fall in client spending has sparked a series of high-profile layoffs in the tech industry.The company's Chief Executive Officer, Satya Nadella, and other Microsoft executives used the words "caution" and "cautious" at least six times on the one hour call on Tuesday. "Microsoft is the biggest bellwether for enterprise and cloud spending in the world. Nadella's comments about slowdown in the cloud is not surprising... It confirms a darker macro is in the horizon," said Dan Ives, analyst at Wedbush. "This is going to be a trend we see across the tech space, with management teams being conservative given the uncertain environment," Ives added.Nadella, however, said Microsoft would focus on AI technology, calling it the next major wave of computing.The tech giant has made multibillion dollar investments in OpenAI, deepening ties with the startup behind the chatbot sensation ChatGPT and building on a bet it made on AI four years ago.Analysts said the sharp slowdown in Microsoft's revenue growth was a "warning sign" for the tech sector, with more weakness at its PC division than the cloud business.  "What we learned is that no one is immune to macro... what is telling is the quarter was largely fine, but we started to see softness in December and the outlook for this quarter was worse than expected," said Rishi Jaluria, analyst at RBC. Microsoft forecast third-quarter revenue in its so-called intelligent cloud business a tad below analysts' estimates, with a growth rate of as much as 19%. It did, however, report better-than-expected second-quarter revenue for that segment, which initially pushed shares higher on Tuesday evening.Companies from Amazon.com Inc to Facebook-parent Meta Platforms are already preparing for tougher months ahead by slashing tens of thousands of jobs to keep their cash reserves high.Analysts expect the cash to be used for other investments, which could include fresh buybacks, mergers and acquisitions or new technology such as artificial intelligence.Microsoft's shares were down about 3% in pre-market trading on Wednesday. Shares of cloud companies including Alphabet Inc's Google, Amazon.com, Salesforce, Cisco and Workday Inc all declined.  (Reporting by Nivedita Balu and Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri)By Nivedita Balu and Tiyashi Datta \ No newline at end of file diff --git a/news/AMZN/2023.01.25/Nasdaq futures drop 1% after Microsoft's bleak outlook.txt b/news/AMZN/2023.01.25/Nasdaq futures drop 1% after Microsoft's bleak outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..0b02fbc299950538120455b2c9202495bbb824b1 --- /dev/null +++ b/news/AMZN/2023.01.25/Nasdaq futures drop 1% after Microsoft's bleak outlook.txt @@ -0,0 +1 @@ +Microsoft Corp shares fell 2.1% in premarket trading after it warned that growth in its cloud business, which helped the company meet analysts' expectations in the second quarter, could stall, while its PC unit continues to struggle. Other large growth stocks including Amazon.com Inc, Tesla Inc, Apple Inc and Alphabet Inc also dropped between 1% and 2%. Growth stocks have enjoyed a bounce in January after a battering last year, with investors now focused on earnings reports to assess the impact of the Federal Reserve's rate hikes and to gauge whether the renewed enthusiasm for such stocks will be sustained."Microsoft is dealing with a marked slowdown in personal computing revenues, which reflects the incredibly challenging consumer environment," Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown wrote in a client note. "Despite renewed hope that interest rate hikes might be slowed and peak inflation coming into view, buying a new laptop and the software that comes with it is simply not a priority for many people right now." Microsoft was also hit with a networking outage that disrupted its cloud platform, Azure, along with services such as Teams and Outlook, potentially affecting millions of users globally. At 5:30 a.m. ET, Dow e-minis were down 215 points, or 0.64%, S&P 500 e-minis were down 31.75 points, or 0.79%, and Nasdaq 100 e-minis were down 140.25 points, or 1.18%. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AMZN/2023.01.25/Shah Rukh Khan's spy film sees bumper Bollywood opening despite protests.txt b/news/AMZN/2023.01.25/Shah Rukh Khan's spy film sees bumper Bollywood opening despite protests.txt new file mode 100644 index 0000000000000000000000000000000000000000..0b1f02d6e6bb94fcf69570666fbfc6aa06f115dd --- /dev/null +++ b/news/AMZN/2023.01.25/Shah Rukh Khan's spy film sees bumper Bollywood opening despite protests.txt @@ -0,0 +1 @@ +The success of "Pathaan", where Khan plays a spy fighting a militant outfit, is crucial for the Indian film industry that has seen a spate of high-profile flops since the COVID-19 pandemic began, as Netflix and Amazon have provided varied, and much cheaper, content at home."It has seen a bumper opening, the second-best in Bollywood ever, even on a non-holiday, mid-week day, when audiences don't go to theatres," said Girish Johar, a producer and trade analyst who tracks box-office figures.Movie critic Taran Adarsh said Pathaan, which marks Khan's return to the big screen after four years, sold about 556,000 tickets on the first day, just behind record-setter "Baahubali 2"'s 650,000 on the first day."Pathaan has it all: Star power, style, scale, songs, soul, substance and surprises," Adarsh said on Twitter, adding that Khan was "back with a vengeance".Of the 5,000 screens Pathaan was playing in, the occupancy rate was a high 65%-75%, a rarity in Bollywood for a film opening day, Johar said, especially as it was mid-week.The film will now be shown on 8,000 screens, 2,500 of whom are abroad where Khan has a strong following, Adarsh said.Right-wing Hindu nationalist groups had in recent days protested against the movie as promotional trailers showed lead heroine Deepika Padukone in an orange bikini, dancing to a racy song. The groups said the scenes denigrated the Hindu religion, which reveres the colour saffron as a symbol of spirituality."It is full of obscenities," said Hemanta Ratha, chief of Odisha political party Kalinga Sena, as dozens of its activists shouted slogans against Khan and tore down the film's posters on Wednesday. "It will have a bad impact on society."Nevertheless, local media showed audiences dancing inside theatres, waving their mobiles phones in the air and singing along with the songs from the movie as it played. (Reporting by Shilpa Jamkhandikar in Mumbai, Jatindra Dash in Bhubaneswar and Sumit Khanna in Ahmedabad; Editing by Krishna N. Das and Bernadette Baum)By Shilpa Jamkhandikar \ No newline at end of file diff --git a/news/AMZN/2023.01.25/Tech firms, Wall Street lead job cuts in corporate America.txt b/news/AMZN/2023.01.25/Tech firms, Wall Street lead job cuts in corporate America.txt new file mode 100644 index 0000000000000000000000000000000000000000..fd890bcdb7d35647563c0cadfba7f359ee7178e2 --- /dev/null +++ b/news/AMZN/2023.01.25/Tech firms, Wall Street lead job cuts in corporate America.txt @@ -0,0 +1,85 @@ +Feb 27 (Reuters) - Big Tech firms and Wall Street titans +are leading a string of layoffs across corporate America as +companies look to rein in costs to ride out a global economic +downturn.Rapid interest rate hikes and weak consumer demand have +forced firms such as Amazon, Walt Disney, Facebook-owner Meta +and American banks to trim their workforce.Tech companies shed more than 150,000 workers in 2022 amid a +rapidly fading pandemic-led demand boom, according to tracking +site Layoffs.fyi, and more layoffs are expected as growth in the +world's biggest economies slows.Here are some of the job cuts by major American companies +announced in recent weeks.TECHNOLOGY, MEDIA AND TELECOM SECTORIBM Corp:The software and consulting firm said it will lay off 3,900 +employees.Spotify Technology SA:Music streaming service Spotify is cutting 6% of its +workforce, or roughly 600 roles.Alphabet Inc:Alphabet Inc is eliminating 12,000 jobs, its chief executive +said in a staff memo.Microsoft Corp:The U.S. tech giant said it would cut 10,000 jobs by the end +of the third quarter of fiscal 2023.The company laid off under 1,000 employees across several +divisions in October, Axios reported, citing a source.Amazon.com Inc:The e-commerce giant said company-wide layoffs would impact +over 18,000 employees.Meta Platforms Inc:The Facebook-parent said it would cut 13% of its workforce, +or more than 11,000 employees, as it grapples with a weak +advertising market and mounting costs.Intel Corp:CEO Pat Gelsinger told Reuters "people actions" would be +part of a cost-reduction plan. The chipmaker said it would +reduce costs by $3 billion in 2023.Twitter Inc:The social media company has laid off at least 200 +employees, or about 10% of its workforce, the New York Times +reported. The layoffs come after Twitter terminated about 3,700 +people, representing about half of the total staff, in November, +soon after Elon Musk took over the firm.Lyft Inc:The ride-hailing firm said it would lay off 13% of its +workforce, or about 683 employees, after it already cut 60 jobs +earlier this year and froze hiring in September.Salesforce Inc:The software company said it would lay off about 10% of its +employees and close some offices as a part of its restructuring +plan, citing a challenging economy.Cisco Systems Inc:The networking and collaboration solutions company said it +will undertake restructuring which could impact roughly 5% of +its workforce. The effort will begin in the second quarter of +the fiscal year 2023 and cost the company $600 million.HP Inc:The computing devices maker said it expected to cut up to +6,000 jobs by the end of fiscal 2025.Workday Inc:The software company will cut roughly 500 jobs, or 3% of its +workforce, citing a challenging macroeconomic environment.NetApp Inc:The cloud firm announced an 8% reduction in its global +workforce. The company had 12,000 employees as of April 29, +2022.Rivian Automotive Inc:The company is laying off 6% of its workforce in an effort +to cut costs as the EV maker, already grappling with falling +cash reserves and a weak economy, braces for an industry-wide +price war.Match Group:The Tinder parent said it would lay off about 8% of its +workforce, a day after it forecast first-quarter revenue below +Wall Street expectations.Dell Technologies Inc:The company will eliminate about 6,650 jobs, or 5% of its +global workforce, as the PC maker grapples with falling demand +and braces for economic uncertainty.Palantir Technologies Inc:The data analytics firm said it had cut about 2% of its +workforce. Palantir, known for its work with the U.S. Central +Intelligence Agency, had 3,838 full-time employees as of Dec. +31, 2022.FINANCIAL SECTORGoldman Sachs Group Inc:Goldman Sachs began laying off staff on Jan. 11 in a +sweeping cost-cutting drive, with around a third of those +affected coming from the investment banking and global markets +division, a source familiar with the matter told Reuters.The job cuts are expected to be just over 3,000, one of the +sources said on Jan. 9, in what would be the biggest workforce +reduction for the bank since the financial crisis.Morgan Stanley:The Wall Street powerhouse is expected to start a fresh +round of layoffs globally in the coming weeks, Reuters reported +on Nov. 3, as dealmaking business takes a hit.Citigroup Inc:The bank eliminated dozens of jobs across its investment +banking division, as a dealmaking slump continues to weigh on +Wall Street's biggest banks, Bloomberg News reported.BlackRock Inc:The asset manager is cutting up to 500 jobs, Insider +reported, citing a memo.Genesis:The cryptocurrency firm has cut 30% of its workforce in a +second round of layoffs in less than six months, a person +familiar with the matter told Reuters.Coinbase Global:The cryptocurrency exchange said it would slash nearly 950 +jobs, the third round of workforce reduction in less than a year +after cryptocurrencies, already squeezed by rising interest +rates, came under renewed pressure following the collapse of +major exchange FTX.Stripe Inc:The digital payments firm is cutting its headcount by about +14% and will have about 7,000 employees after the layoffs, +according to an email to employees from the company's founders.CONSUMER AND RETAIL SECTORBeyond Meat Inc:The vegan meat maker said it plans to cut 200 jobs this +year, with the layoffs expected to save about $39 million.Blue Apron Holdings Inc:The online meal-kit company said it will cut about 10% of +its corporate workforce, as it looks to reduce costs and +streamline operations. The company had about 1,657 full-time +employees, as of Sept. 30.DoorDash Inc:The food delivery firm, which enjoyed a growth surge during +the pandemic, said it was reducing its corporate headcount by +about 1,250 employees.Bed Bath & Beyond:The retailer will lay off more employees this year in an +attempt to reduce costs. Last year, company executives had said +the home goods retailer was cutting about 20% of its corporate +and supply chain workforce.ENERGY AND RESOURCES SECTORDow Inc:The U.S. chemicals maker said it would cut about 2,000 jobs +as it navigates challenges including inflation and supply chain +disruptions.Phillips 66:The refiner reduced employee headcount by over 1,100 as it +seeks to meet its 2022 cost savings target of $500 million. The +reductions were communicated to employees in late October.HEALTH AND PHARMACEUTICAL SECTORJohnson & Johnson:The pharmaceutical giant has said it might cut some jobs +amid inflationary pressure and a strong dollar, with CFO Joseph +Wolk saying the healthcare conglomerate is looking at "right +sizing" itself.MANUFACTURING SECTOR3M Co:The industrial conglomerate said it would cut 2,500 +manufacturing jobs after reporting a lower profit. +(Reporting by Deborah Sophia in Bengaluru; Additional reporting +by Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik, +Sourasis Bose, Priyamvada C, Tiyashi Datta and Manya Saini; +Editing by Shinjini Ganguli, Shounak Dasgupta, Sriraj Kalluvila, +Vinay Dwivedi, Sonia Cheema and Maju Samuel) \ No newline at end of file diff --git a/news/AMZN/2023.01.25/Wall St falls as Microsoft outlook dents tech stocks, earnings disappoint.txt b/news/AMZN/2023.01.25/Wall St falls as Microsoft outlook dents tech stocks, earnings disappoint.txt new file mode 100644 index 0000000000000000000000000000000000000000..7f33cca16cd022dd399c3581f968f9b9ecaa3da2 --- /dev/null +++ b/news/AMZN/2023.01.25/Wall St falls as Microsoft outlook dents tech stocks, earnings disappoint.txt @@ -0,0 +1,46 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Microsoft falls on dismal Q3 cloud outlook*Salesforce, Amazon, other cloud-based stocks drop*Boeing slides after missing Q4 revenue estimates*Indexes down: Nasdaq 1.2%, S&P 0.9%, Dow 0.6%Jan 25 (Reuters) - Wall Street benchmarks dropped on +Wednesday as a decline in technology stocks after Microsoft's +downbeat forecast and a bleak quarterly report from Boeing +fanned fears of a recession.Shares of Microsoft Corp fell 1.2% after it warned +that growth in its lucrative cloud business could stall, while +its PC unit continues to struggle.Amazon.com Inc, Salesforce Inc and +ServiceNow Inc, which have large cloud businesses, fell +about 1% each. The S&P 500 technology index shed 1.3%.Other major growth stocks, including Apple Inc, +Alphabet Inc and Tesla Inc, also dropped +between 0.4% and 3%.Growth stocks, however, have enjoyed a bounce in January +after a battering last year, with investors now focused on +earnings reports to assess the impact of the Federal Reserve's +rate hikes and to gauge whether the renewed enthusiasm for these +stocks will be sustained."One of the most resilient sectors in the economy (tech) is +starting to feel the softness coming through," said Larry Adam, +chief investment officer at Raymond James."Microsoft particularly talked about December - and that's +another shot across the bow to the Fed that they make sure they +do not overtighten and send the economy into a more severe +recession than the one we're getting."An overwhelming majority of traders expect the Federal +Reserve to raise interest rates by another 25 basis points in +its meeting next week.They now see the terminal rate peaking at 4.91% in June, +even as Fed policymakers have repeatedly backed taking rates +above the 5% level.Data later in the week is likely to show December personal +consumption expenditure index (PCE) fell 0.1% from a 0.1% rise +in the prior month. Fourth quarter GDP advance numbers are also +awaited.Dow Jones Industrial Average constituent, Boeing Co +slipped 1.2% as the planemaker's losses widened in 2022 +and it missed fourth-quarter revenue estimates.At 12:21 p.m. ET, the Dow was down 208.76 points, or 0.62%, +at 33,525.20, the S&P 500 was down 34.45 points, or +0.86%, at 3,982.50, and the Nasdaq Composite was down +139.09 points, or 1.23%, at 11,195.19.Abbott Laboratories fell 1.9%, weighed down by +lower-than-expected medical device sales in the fourth quarter.In a bright spot, AT&T Inc jumped 5.4% on +higher-than-expected quarterly subscriber additions, while +Textron Inc added 0.9% as its revenue beat estimates.News Corp jumped 6.1%, leading gains on the S&P +500, after Rupert Murdoch withdrew a proposal to reunite News +Corp and Fox Corp.Meanwhile, the New York Stock Exchange said a manual error +triggered a technical issue on Tuesday, preventing the opening +auctions in some listed stocks, leading to widespread confusion +and attracting a review from the U.S. Securities and Exchange +Commission.Declining issues outnumbered advancers for a 2.20-to-1 ratio +on the NYSE and for a 1.92-to-1 ratio on the Nasdaq.The S&P index recorded two new 52-week highs and one new +low, while the Nasdaq recorded 45 new highs and 25 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Additional reporting by Medha Singh; Editing by Vinay +Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.01.26/SAP to cut 3,000 jobs in efficiency move, explores Qualtrics stake sale.txt b/news/AMZN/2023.01.26/SAP to cut 3,000 jobs in efficiency move, explores Qualtrics stake sale.txt new file mode 100644 index 0000000000000000000000000000000000000000..7a0bb4f126a4a6b8bc003e420045f14bc1bb20c5 --- /dev/null +++ b/news/AMZN/2023.01.26/SAP to cut 3,000 jobs in efficiency move, explores Qualtrics stake sale.txt @@ -0,0 +1 @@ +With the planned job cuts, SAP joins other big tech companies including Microsoft and Amazon in turning to layoffs to cut costs. SAP reported a 30% revenue increase in its cloud business in the fourth quarter, helped by strong demand for its HANA software. Analysts are worried that the lucrative cloud segment for big tech companies could be hit hard as customers look to cut spending.SAP's operating profit grew 17% in the three months through December to 1.71 billion euros ($1.87 billion) on group revenue of 8.44 billion euros, it said.($1 = 0.9159 euros) (Reporting by Kirsti Knolle; Editing by Paul Carrel and Miranda Murray) \ No newline at end of file diff --git a/news/AMZN/2023.01.27/Amazon axes free grocery delivery on Prime orders under $150.txt b/news/AMZN/2023.01.27/Amazon axes free grocery delivery on Prime orders under $150.txt new file mode 100644 index 0000000000000000000000000000000000000000..e0ae80a7d8f1a40046622dabf4c4e7347be42572 --- /dev/null +++ b/news/AMZN/2023.01.27/Amazon axes free grocery delivery on Prime orders under $150.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Amazon is axing free grocery delivery for Prime members on orders less than $150.Customers who get their groceries delivered from Amazon Fresh -- and pay less than $150 — will be charged between $3.95 and $9.95, depending on the order size, the company said in an email to Prime members Friday.The new policy starts February 28.“We will continue to offer convenient two-hour delivery windows for all orders, and customers in some areas will be able to select a longer, six-hour delivery window for a reduced fee," Amazon said in the email.Launched in 2005, Prime has more than 200 million members worldwide who pay $139 a year, or $14.99 a month, for faster shipping and other perks, such as free delivery and returns.Currently, the company offers members free grocery deliveries on orders above $35, with the exception of New York, where it’s $50.Under the new policy, the company said delivery charges will be $3.95 for orders between $100-$150, $6.95 for orders of $50 to $100, and $9.95 for orders under $50. Amazon Fresh deliveries over $150 will remain free.“We’re introducing a service fee on some Amazon Fresh delivery orders to help keep prices low in our online and physical grocery stores as we better cover grocery delivery costs and continue to enable offering a consistent, fast, and high-quality delivery experience,” Amazon spokesperson Lara Hendrickson said in a prepared statement.The company has dozens of Amazon Fresh stores across the U.S. and has opened some abroad. Amazon has also owned Whole Foods since 2017.The decision to impose new fees comes as the company attempts to trim costs amid a hazy economic environment. In the past few months, it has axed unprofitable areas of its business and paused hiring among its corporate workforce. It said this month that it will lay off 18,000 workers.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.01.27/Amazon beats claim that warehouse quotas biased against older workers.txt b/news/AMZN/2023.01.27/Amazon beats claim that warehouse quotas biased against older workers.txt new file mode 100644 index 0000000000000000000000000000000000000000..6ecb59a798732969e20e423cbe819548c17ac5b4 --- /dev/null +++ b/news/AMZN/2023.01.27/Amazon beats claim that warehouse quotas biased against older workers.txt @@ -0,0 +1 @@ +U.S. Magistrate Judge Kandis Westmore in Oakland said the 2021 lawsuit, which alleges the online retailer's hourly quotas place older workers at a higher risk of injury, was too vague and failed to identify specific policies that are discriminatory. "Simply because physical strength declines with age does not automatically mean that older workers are more likely to get injured or fail to keep up with the quotas," Westmore wrote.Amazon did not immediately respond to a request for comment. Nor did lawyers for the plaintiff. The lawsuit says Amazon requires warehouse employees to move 150 to 300 items through their work posts each hour, depending on their job duties. Workers can be disciplined or fired for missing quotas or spending too much time off task.The lawsuit claimed that because workers who are 49 and older are more susceptible to injuries, including those resulting from highly repetitive motions, the quotas amount to age discrimination in violation of California law.Westmore in granting Amazon's motion to dismiss the case said it would be improper to infer that older workers are more likely to be injured merely because of their age. Amazon has been criticized by employees, lawmakers and union organizers for putting profits over worker safety by enforcing strict production quotas.Last week, the U.S. workplace safety regulator said it had cited Amazon for placing workers at three warehouses at risk by exposing them to ergonomic hazards that resulted in serious injuries.Amazon, which faces up to $60,000 in fines, has said it invests hundreds of millions of dollars annually to ensure worker safety. (Reporting by Daniel Wiessner in Albany, New York; Editing by Alexia Garamfalvi and Angus MacSwan)By Daniel Wiessner \ No newline at end of file diff --git a/news/AMZN/2023.01.27/Australia regulator to probe social media influencers for false endorsements.txt b/news/AMZN/2023.01.27/Australia regulator to probe social media influencers for false endorsements.txt new file mode 100644 index 0000000000000000000000000000000000000000..bb02032b56906c6967771d9c79f7b54b2e0ea95f --- /dev/null +++ b/news/AMZN/2023.01.27/Australia regulator to probe social media influencers for false endorsements.txt @@ -0,0 +1 @@ +The Australian Competition and Consumer Commission (ACCC) said it would look at more than 100 influencers after several consumers informed the regulator about some endorsements and testimonials which they said were misleading."The number of tip-offs reflects the community concern about the ever-increasing number of manipulative marketing techniques on social media, designed to exploit or pressure consumers into purchasing goods or services," ACCC Chair Gina Cass-Gottlieb said in a statement.As part of the sweep, ACCC has begun reviewing Meta Platforms Inc's Facebook and Instagram, TikTok, Snap Inc's Snapchat, Alphabet Inc's YouTube and Amazon.com Inc's streaming service Twitch, Cass-Gottlieb said.The probe will target influencers in fashion, cosmetics, food and beverage, travel, fitness, parenting, gaming and technology. It will also check if advertisers, marketers, brands and social media platforms are facilitating any misconduct.Individuals who breach Australian consumer laws could be fined up to A$2.5 million ($1.78 million). The ACCC has been conducting a series of investigations as part of a broader Digital Platform Services Inquiry, focused on the provision of social media services, including sponsored posts and influencer advertising on social media platforms. It is expected to submit its sixth interim report by March 31. ($1 = 1.4053 Australian dollars) (Reporting by Renju Jose; Editing by Simon Cameron-Moore) \ No newline at end of file diff --git a/news/AMZN/2023.01.27/Footwear brand taps Jitterbit to streamline sales, processes.txt b/news/AMZN/2023.01.27/Footwear brand taps Jitterbit to streamline sales, processes.txt new file mode 100644 index 0000000000000000000000000000000000000000..d8e50eb3c5e70be549d3bc086324339f3d091463 --- /dev/null +++ b/news/AMZN/2023.01.27/Footwear brand taps Jitterbit to streamline sales, processes.txt @@ -0,0 +1 @@ +OluKai, an Hawaiian-inspired footwear company, is deploying Jitterbit technology to streamline sales and fulfillment processes and improve team productivity.The technology connected the retailer's enterprise resource planning system with Amazon to boost the recording of sales, return and inventory movement, according to a press release.When OluKai began selling on Amazon, the move made it difficult and time-consuming to log sales data from the Amazon Seller Central platform into the company's ERP and led to diminished productivity among team members, data inaccuracies and complications with fulfillment.OluKai was a customer of eBridge Connections, an e-commerce integration provider acquired by Jitterbit in 2021, prior to the technology effort.So far the retailer's return on investment include more accurate and automated tracking of sales, returns and general inventory movement."Our capacity at Amazon grew fast and the day-to-day work that was needed to keep up created a real challenge," Jason Ekinaka, operations manager at Olukai, said in the release. "Using Jitterbit, we went from weekly or bimonthly inventory updates to daily updates, which has been a game-changer. The improved accuracy gives us a better feel for our inventory, and our internal systems can more accurately record how Amazon is performing."Copyright © 2023 Networld Media. All rights reserved., source Industry News \ No newline at end of file diff --git a/news/AMZN/2023.01.27/Take Five: Goldilocks and the three bears.txt b/news/AMZN/2023.01.27/Take Five: Goldilocks and the three bears.txt new file mode 100644 index 0000000000000000000000000000000000000000..c48a8d6e8284274a6813126d25fb85878c489f5c --- /dev/null +++ b/news/AMZN/2023.01.27/Take Five: Goldilocks and the three bears.txt @@ -0,0 +1 @@ +But the story three of the world's largest central banks, set to hold their first policy meetings of 2023, tell isn't that of a "Goldilocks" scenario of a gentle slowdown in growth and a gradual easing in inflation. Here's a look at the week ahead in markets from Kevin Buckland in Tokyo, Dhara Ranasinghe and Naomi Rovnik in London and Ira Iosebashvili and Lewis Krauskopf in New York.1/WILL THE FED FOLD?Will the Federal Reserve tone down its hawkish rhetoric in the face of cooling inflation or stick to its guns? Investors widely expect a 25-basis point rate increase at the Feb. 1 meeting and for rates to stop short of hitting 5%.Fed officials, however, have indicated they expect the key policy rate to top out at 5.00-5.25% this year.Whatever signals the Fed sends could play an importing role in determining the longevity of the rally so far this year. Dollar bears, meanwhile, will watch for dovish leanings that could further accelerate a decline in the greenback. The currency has tumbled nearly 11% since hitting multi-decade highs last September. GRAPHIC - Summer peakhttps://www.reuters.com/graphics/GLOBAL-MARKETS/xmvjklalzpr/chart.png2/ BACK FROM BREAK Chinese markets are back from the week-long Lunar New Year holidays, and will look to pick up where they left off - at a five-month peak for mainland blue chips. The mood should stay bullish after officials said COVID deaths have dropped about 80% from the peak earlier this month, running counter to worries that the New Year travel rush would trigger a fresh wave of infections. Some experts even suggest that the surge in cases after the government abruptly reversed its zero-COVID policies last month has resulted in hyper-speedy herd immunity. The impact of China's Great Reopening may show up in PMIs next Tuesday, with the services sector bouncing back to expansion. Manufacturing is likely still contracting, but that has a lot to do with the timing of the New Year holiday, and next month should see a strong rebound.GRAPHIC - China's convalescent business activityhttps://www.reuters.com/graphics/CHINA-ECONOMY/PMI/gdpzqwozmvw/china-pmi-2022.jpg3/ YOUR MOVE, ECBThe ECB meets Thursday and is widely tipped to raise rates by 50 bps to 2.5%. Markets care most about what happens next and that's not clear. Policy hawks are already pushing for more of the same in March. After all, inflation is well above the 2% target as preliminary January data out on Wednesday is likely to show.Futures price in a further 100 bps worth of tightening between now and July. Amundi reckons ECB rates could reach 4%.But the doves are getting louder. Yes, inflation is high but it's off record peaks, they say. So, caution is needed before pre-commiting to rate hikes beyond February.Markets, whipped around by the differing opinions, will be looking for the ECB to speak with one voice. That, at least, is the hope. GRAPHIC - ECB expected to hike againhttps://www.reuters.com/graphics/GLOBAL-CENTRALBANKS/zjvqjebzqpx/chart.png4/THE "A" TEAM The three "A's" -- Apple, Amazon and Alphabet - three of the top four U.S. companies by market value - all report earnings on Thursday.Over 100 companies in the S&P 500 deliver results as the earnings season gets into full swing. Microsoft, the fourth of the U.S. megacaps, has already reported results. Its cloud business hit Wall Street targets, but it delivered a lacklustre forecast that offered little cheer to the broader tech sector. Tech companies generally are under pressure to grow while cutting costs ahead of a potential recession. S&P 500 earnings are set to have fallen 2.9% from the year-ago period, according to Refinitiv IBES data as of Tuesday. GRAPHIC - Big tech's earnings growth put to the testhttps://www.reuters.com/graphics/GLOBAL-MARKETS/mypmogzgmpr/chart.png 5/THE END MAY BE NIGH The Bank of England, the first of the major central banks to turn hawkish, is expected to deliver its tenth rate hike since December 2021. Money markets predict the BoE will raise rates by 0.5 percentage points to 4%. Headline inflation moderated in December to 10.5%, but it's still over five times the Bank's official target. Deutsche Bank analysts say this will be the BoE's final "forceful" hike. Recent data has shown a sharp contraction in UK business activity and lacklustre Christmas retail sales. Economists polled by Reuters now expect the BoE to stop at 4.25%. But many cited sticky core inflation, which excludes food and energy costs, as the main reason they could be wrong. GRAPHIC - Inflation mixed baghttps://www.reuters.com/graphics/BRITAIN-ECONOMY/jnvwywzdkvw/chart.png (Compiled by Amanda Cooper; Graphics by Sumanta Sen, Pasit Kongkunakornkul and Vincent Flasseur; Editing by Toby Chopra) \ No newline at end of file diff --git a/news/AMZN/2023.01.27/US STOCKS-Wall Street advances, on course for weekly gains as Fed meeting looms.txt b/news/AMZN/2023.01.27/US STOCKS-Wall Street advances, on course for weekly gains as Fed meeting looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..c4b4f65ee45fd2b3d46e32035cd5eac21bd8dd65 --- /dev/null +++ b/news/AMZN/2023.01.27/US STOCKS-Wall Street advances, on course for weekly gains as Fed meeting looms.txt @@ -0,0 +1,49 @@ +(Fixes typo in paragraph 13)*PCE: inflation cools, consumer spending falls*American Express, Visa climb higher*Chevron falls post missing profit estimates*Indexes up: Dow 0.24%, S&P 0.45%, Nasdaq 1.16%NEW YORK, Jan 27 (Reuters) - Wall Street advanced on +Friday, nearing the end of an rocky week in which economic data +and corporate earnings guidance both hinted at softening demand +but also economic resiliency ahead of next week's Federal +Reserve monetary policy meeting.All three major U.S. stock indexes were last green after +see-sawing earlier in the session, with the Nasdaq out front.From last Friday's close, the S&P and the Dow have set a +course for their third weekly gains in four, while the +tech-laden Nasdaq appears set to notch its fourth straight +weekly advance.The Commerce Department's hotly anticipated personal +consumption expenditures (PCE) report arrived largely in line +with consensus, showing softening demand and cooling inflation - +which is exactly what the Federal Reserve's restrictive interest +rate hikes are intended to accomplish."(The PCE report) is welcome news with regards to the Fed’s +mission, but they’re not ready to retreat at this point," said +Matthew Keator, managing partner in the Keator Group, a wealth +management firm in Lenox, Massachusetts. "They will stay focused +on their mission, but the hope is that they will begin to +moderate their hawkish tones."Fed Chair Jerome Powell has clearly stated that the central +bank's battle against decades-high inflation is far from over, +however. Financial markets still believe the central bank will +hike the Fed funds target rate by another 25 basis points at the +conclusion of next week's policy meeting.Fourth-quarter earnings season is running on all cylinders, +with 143 of the companies in the S&P 500 having reported. Of +those, 67.8% have beaten Street expectations, slightly better +than the 66% long-term average, but well below the 76% beat rate +over the past four quarters, according to Refinitiv.Analysts now see aggregate S&P 500 earnings falling 2.9% +year-on-year, compared with the milder 1.6% annual drop seen on +Jan. 1, per Refinitiv.The Dow Jones Industrial Average rose 81.28 points, +or 0.24%, to 34,030.69, the S&P 500 gained 18.1 points, +or 0.45%, to 4,078.53 and the Nasdaq Composite added +133.41 points, or 1.16%, to 11,645.82.Among the 11 major sectors of the S&P 500, consumer +discretionary led the percentage gainers, while energy +suffered the largest percentage losses.Shares of Intel Corp plunged 7.1% after the +chipmaker provided dismal earnings projections.Chevron Corp posted record 2022 profit, but its +fourth quarter earnings fell short of expectations, dragging the +stock down 4.1%.Rival payment companies American Express Co and Visa +Inc reported consensus-beating results, easing worries of +waning consumer demand. Their shares jumped 11.5% and 3.0%, +respectively.Bed Bath & Beyond Inc rose 4.2% in a partial +rebound after plummeting 22.2% on Thursday in the wake of +JPMorgan issuing a loan default notice.Next week, a raft of high profile earnings reports are +expected, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Advancing issues outnumbered declining ones on the NYSE by a +1.54-to-1 ratio; on Nasdaq, a 1.49-to-1 ratio favored advancers.The S&P 500 posted 14 new 52-week highs and no new lows; the +Nasdaq Composite recorded 80 new highs and 29 new lows. +(Reporting by Stephen Culp; Additonal Reporting by Bansari +Mayur Kamdar, Johann M Cherian and Shreyashi Sanyal in +Bengaluru; Editing by Aurora Ellis) \ No newline at end of file diff --git a/news/AMZN/2023.01.27/Wall Street ends higher, notches weekly gains as Fed meeting looms.txt b/news/AMZN/2023.01.27/Wall Street ends higher, notches weekly gains as Fed meeting looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..951cf12c05716ac921a5f5d82896a0ba34acf733 --- /dev/null +++ b/news/AMZN/2023.01.27/Wall Street ends higher, notches weekly gains as Fed meeting looms.txt @@ -0,0 +1,53 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*PCE: inflation cools along with consumer spending*American Express, Visa climb higher on solid demand*Chevron falls after missing profit estimates*Indexes up: Dow 0.08%, S&P 0.25%, Nasdaq 0.95%NEW YORK, Jan 27 (Reuters) - Wall Street advanced on +Friday, marking the end of an rocky week in which economic data +and corporate earnings guidance hinted at softening demand but +also economic resiliency ahead of next week's Federal Reserve +monetary policy meeting.All three major U.S. stock indexes ended the session +green, with the Nasdaq, powered by megacap momentum stocks, +enjoying the biggest gain.From last Friday's close, the S&P and the Dow posted +their third weekly gains in four, while the tech-laden Nasdaq +notched its fourth straight weekly advance.So far in the early weeks of 2023, the Nasdaq has jumped +11%, while the S&P 500 and the Dow have gained 6% and 2.5%, +respectively."It's a nice end to another solid week of what's shaping +up to be a historically strong month," said Ryan Detrick, chief +market strategist at Carson Group in Omaha. "It's a realization +that inflation continues to come down quickly and that is +alleviating a lot of worries regarding the economy."The Commerce Department's hotly anticipated personal +consumption expenditures (PCE) report arrived largely in line +with consensus, showing softening demand and cooling inflation - +which is exactly what the Federal Reserve's restrictive interest +rate hikes are intended to accomplish."(The PCE report) is another building block to the +inflation data we’ve been seeing recently," Detrick added. +"Supply chains continue to open up and improve, opening the door +for the Fed to end its aggressive rate hiking cycle."Fed Chair Jerome Powell has clearly stated that the central +bank's battle against decades-high inflation is far from over, +however. Financial markets still believe the central bank will +hike the Fed funds target rate by another 25 basis points at the +conclusion of next week's policy meeting.Fourth-quarter earnings season is running on all cylinders, +with 143 of the companies in the S&P 500 having reported. Of +those, 67.8% have beaten Street expectations, slightly better +than the 66% long-term average, but well below the 76% beat rate +over the past four quarters, according to Refinitiv.Analysts now see aggregate S&P 500 earnings falling 2.9% +year-on-year, compared with the milder 1.6% annual drop seen on +Jan. 1, per Refinitiv.The Dow Jones Industrial Average rose 28.67 points, +or 0.08%, to 33,978.08, the S&P 500 gained 10.13 points, +or 0.25%, to 4,070.56 and the Nasdaq Composite added +109.30 points, or 0.95%, to 11,621.71.Among the 11 major sectors of the S&P 500, consumer +discretionary led the percentage gainers, while energy +suffered the largest percentage loss, down 2%.Shares of Intel Corp plunged6.4% after the chipmaker provideddismal earnings projections.Chevron Corp posted record 2022 profit, but its +fourth quarter earningsfell short of expectations, dragging the stock down4.4%.Rival payment companies American Express Co and +Visa Inc reported consensus-beating results, easing +worries of waning consumer demand. There shares jumped10.5% and3.0%, respectively.Next week, in addition to the Fed meeting and January +employment data, a string of high profile earnings reports are +on tap, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Advancing issues outnumbered declining ones on the NYSE +by a 1.40-to-1 ratio; on Nasdaq, a 1.34-to-1 ratio favored +advancers.The S&P 500 posted 15 new 52-week highs and no new lows; +the Nasdaq Composite recorded 94 new highs and 32 new lows.Volume on U.S. exchanges was 11.88 billion shares, +compared with the 11.10 billion average over the last 20 trading +days. +(Reporting by Stephen Culp; Additonal Reporting by Bansari +Mayur Kamdar, Johann M Cherian and Shreyashi Sanyal in +Bengaluru; Editing by Aurora Ellis) \ No newline at end of file diff --git a/news/AMZN/2023.01.29/Asia shares brace for rate hikes, earnings rush.txt b/news/AMZN/2023.01.29/Asia shares brace for rate hikes, earnings rush.txt new file mode 100644 index 0000000000000000000000000000000000000000..ff041d5c244f79e93aa9ae63c173fd46ceab55cd --- /dev/null +++ b/news/AMZN/2023.01.29/Asia shares brace for rate hikes, earnings rush.txt @@ -0,0 +1 @@ +Earnings from a who's who of tech giants will also test the mettle of Wall Street bulls, who are looking to propel the Nasdaq to its best January since 2001.Asia has been no slouch either as China's swift reopening bolsters the economic outlook, with MSCI's broadest index of Asia-Pacific shares outside Japan up 11% in January at a nine-month high. Early Monday, the index was up 0.1% as investors looked forward to China's market resuming after the Lunar New Year holidays, while Japan's Nikkei added 0.2%. S&P 500 futures and Nasdaq futures both eased 0.1%.Investors are confident the Federal Reserve will raise rates by 25 basis points on Wednesday, followed the day after by half-point hikes from the Bank of England and European Central Bank, and any deviation from that script would be a real shock.Just as important will be the guidance on future policy with analysts expecting a hawkish message of inflation is not yet beaten and more needs to be done."With U.S. labor markets still tight, core inflation elevated, and financial conditions easing, Fed Chair Powell's tone will be hawkish, stressing that a downshifting to a 25bp hike doesn't mean a pause is coming," said Bruce Kasman, chief economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against market pricing of rate cuts later this year." There is a lot of pushing to do given futures currently have rates peaking at 5.0% in March, only to fall back to 4.5% by year end.EYEING APPLEYields on 10-year notes have fallen 31 basis points so far this month to 3.518%, essentially easing financial conditions even as the Fed seeks to tighten.That dovish outlook will also be tested by data on U.S. payrolls, the employment cost index and various ISM surveys.As for Wall Street's recent rally, much will depend on earnings from Apple Inc, Amazon.com, Alphabet Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for consumers globally and a snapshot of the China supply chain issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe iPhone 14 Pro demand is holding up firmer than expected," they added. "Apple will likely cut some costs around the edges, but we do not expect mass layoffs." Market pricing of early Fed easing has been a burden for the dollar, which has lost 1.5% so far this month against a basket of major currencies.The euro is up 1.4% for January at $1.0870 and just off a nine-month top. The dollar has even lost 1% on the yen to 129.92 despite the Bank of Japan's dogged defence of its uber-easy policies.The drop in the dollar and yields has been a boon for gold, which is up 5.6% for the month so far at $1,928 an ounce. [GOL/]China's rapid reopening is seen as a windfall for commodities in general, supporting everything from copper to iron ore to oil prices. [O/R]Beijing reported Lunar New Year travel trips inside China surged 74% from last year, though that was still only half of pre-pandemic levels.Early Monday, Brent was up 79 cents at $87.45 a barrel, while U.S. crude rose 66 cents to $80.34. (Reporting by Wayne Cole; Editing by Christopher Cushing)By Wayne Cole \ No newline at end of file diff --git a/news/AMZN/2023.01.29/Asia shares turn cagey as rate hikes, earnings loom.txt b/news/AMZN/2023.01.29/Asia shares turn cagey as rate hikes, earnings loom.txt new file mode 100644 index 0000000000000000000000000000000000000000..6e47c43e350a14682c1c2592df9b091df1e87756 --- /dev/null +++ b/news/AMZN/2023.01.29/Asia shares turn cagey as rate hikes, earnings loom.txt @@ -0,0 +1,53 @@ +*Asian stock markets: https://tmsnrt.rs/2zpUAr4*Fed seen hiking 25bp this week, ECB and BOE by 50bp*Tech giants lead host of earnings results*China shares up as holiday travel surgesSYDNEY, Jan 30 (Reuters) - Asian shares turned cagey on +Monday ahead of a week that is certain to see interest rates +rise in Europe and the United States, along with U.S. jobs and +wage data that may influence how much further they still have to +go.Earnings from a who's who of tech giants will also test the +mettle of Wall Street bulls, who are looking to propel the +Nasdaq to its best January since 2001.Asia has been no slouch either as China's swift reopening +bolsters the economic outlook, with MSCI's broadest index of +Asia-Pacific shares outside Japan up 11% in +January so far at a nine-month high.The index was off 0.2% on Monday with markets mixed across +the region. Japan's Nikkei went flat, while Taiwan +jumped 3.1%.The Nikkei newspaper reported Renault was to lower +its share holding in Nissan to 15%, while the latter +would invest in Renault's EV business.Chinese blue chips climbed 1.1% after returning +from the holidays. Beijing reported Lunar New Year travel trips +inside China surged 74% from last year, though that was still +only half of pre-pandemic levels.S&P 500 futures and Nasdaq futures both eased +0.3%, while EUROSTOXX 50 futures and FTSE futures +dipped 0.2%.Investors are confident the Federal Reserve will raise rates +by 25 basis points on Wednesday, followed the day after by +half-point hikes from the Bank of England and European Central +Bank, and any deviation from that script would be a real shock.Just as important will be the guidance on future policy with +analysts expecting a hawkish message of inflation is not yet +beaten and more needs to be done."With U.S. labor markets still tight, core inflation +elevated, and financial conditions easing, Fed Chair Powell's +tone will be hawkish, stressing that a downshifting to a 25bp +hike doesn't mean a pause is coming," said Bruce Kasman, chief +economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against +market pricing of rate cuts later this year."There is a lot of pushing to do given futures +currently have rates peaking at 5.0% in March, only to fall back +to 4.5% by year end.EYEING APPLEYields on 10-year notes have fallen 33 basis +points so far this month to 3.50%, essentially easing financial +conditions even as the Fed talks tough on tightening.That dovish outlook will also be tested by data on U.S. +payrolls, the employment cost index and various ISM surveys.Figures on EU inflation could be important for whether the +ECB signals a half-point rate rise for March, or opens the door +to slowdown in the pace of tightening.As for Wall Street's recent rally, much will depend on +earnings from Apple Inc, Amazon.com, Alphabet +Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for +consumers globally and a snapshot of the China supply chain +issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe +iPhone 14 Pro demand is holding up firmer than expected," they +added. "Apple will likely cut some costs around the edges, but +we do not expect mass layoffs."Market pricing of early Fed easing has been a burden for the +dollar, which has lost 1.6% so far this month to stand at +101.790 against a basket of major currencies.The euro is up 1.5% for January at $1.0878 and +just off a nine-month top. The dollar has even lost 1.3% on the +yen to 129.27 despite the Bank of Japan's dogged +defence of its uber-easy policies.The drop in the dollar and yields has been a boon for gold, +which is up 5.8% for the month so far at $1,930 an ounce.China's rapid reopening is seen as a windfall for +commodities in general, supporting everything from copper to +iron ore to oil prices.The oil market was hesitant on Monday, with Brent +off 11 cents at $86.55 a barrel, while U.S. crude eased 3 +cents to $79.65.(Reporting by Wayne Cole; Editing by Christopher Cushing) \ No newline at end of file diff --git a/news/AMZN/2023.01.29/Japan's Nikkei tracks Wall Street higher, U.S. events in focus.txt b/news/AMZN/2023.01.29/Japan's Nikkei tracks Wall Street higher, U.S. events in focus.txt new file mode 100644 index 0000000000000000000000000000000000000000..18392d59da98f4c577842d6ed901d3ae34aaa7ea --- /dev/null +++ b/news/AMZN/2023.01.29/Japan's Nikkei tracks Wall Street higher, U.S. events in focus.txt @@ -0,0 +1,27 @@ +TOKYO, Jan 30 (Reuters) - Japan's Nikkei index rose on +Monday, tracking Wall Street's climb in the previous session, +although the gains were capped by caution ahead of the Federal +Reserve's meeting and domestic corporate earnings announcements.The Nikkei share average was up 0.33% at 27,473.75 +by the midday break, while the broader Topix inched +0.14% higher at 1,985.42.The week is filled with market-moving cues, so investors are +being more cautious, said Shigetoshi Kamada, general manager at +the research department at Tachibana Securities."I am unsure if this (upbeat) momentum will continue this +week. Investors are cautious and could sell stocks to book +profits ahead of the Fed meeting, U.S. employment data as well +as domestic corporate results."Wall Street rose on Friday, marking the end of a rocky week +in which economic data and corporate earnings guidance hinted at +softening demand but also economic resiliency ahead of the U.S. +Federal Open Market Committee (FOMC) this week.A string of high profile earnings reports are on tap +globally, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Investors are also reacting to Japanese corporate outlook as +the earnings season reaches its peak this week.Fanuc jumped 4.25% after the robot maker raised its +annual operating profit outlook and announced a 5-for-1 stock +split.Shin-Etsu Chemical, up 4.48%, posted a fourth +straight session of gains as the silicon wafter maker raised its +annual operating profit outlook.Japanese semiconductor equipment makers showed muted +reaction to news that Washington had made progress towards a +deal to curb exports of some advanced chip-making equipment to +China with several governments.Tokyo Electron rose 0.54% and Advantest +inched up 0.21%, while Nikon rose 0.48%. +(Reporting by Junko Fujita; editing by Uttaresh.V) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/'They fire, we hire' - Germany seizes on Silicon Valley's woes.txt b/news/AMZN/2023.01.30/'They fire, we hire' - Germany seizes on Silicon Valley's woes.txt new file mode 100644 index 0000000000000000000000000000000000000000..0662de2ce765af8a9a9eed06d9f2df8acfbe058f --- /dev/null +++ b/news/AMZN/2023.01.30/'They fire, we hire' - Germany seizes on Silicon Valley's woes.txt @@ -0,0 +1 @@ +The U.S. West Coast has always been the main destination for ambitious software engineers looking to work in the best-paid, most elite corner of their profession, but the mass redundancies have created a pool of jobseekers that Germany is eager to tap."They fire, we hire," said Rainer Zugehoer, Chief People Officer at Cariad, the software subsidiary of automaker Volkswagen. "We have several hundred open positions in the U.S., in Europe and in China."Spooked by inflation and the prospect of recession, Google parent Alphabet, Microsoft and Facebook owner Meta have announced a combined almost 40,000 job cuts.While Germany is also teetering on the edge of recession, its companies have grown more slowly in recent years and, in a country notorious for still handling business by fax, there are huge technology leaps to be made.Germany, with one of the world's oldest populations, has gaping holes in its labour force: according to IT industry group Bitkom, 137,000 IT jobs are unfilled.The government is simplifying immigration rules and dangling the prospect of easily-acquired citizenship to tempt skilled would-be immigrants, and regional authorities are pressing ahead."I would like to cordially invite you to move to Bavaria," wrote Judith Gerlach, digitalisation minister in Germany's wealthiest region on LinkedIn in a post addressed to the recently laid off.Especially with the euro at dollar parity, few European companies pay rates that compete with the hundreds of thousands of dollars on offer at California's most successful companies, but some hope cheaper healthcare and lower costs compared to hotspots like San Francisco can help."And did I mention Oktoberfest?" Gerlach added, adding Munich's famed beer festival to the strong labour protections that might prove attractive to the newly jobless.Some are sceptical, with Bitkom's Bernhard Rohleder noting that Germany is competing not just with other countries for the most talented, but with potential recruits' home countries too.Germany's penchant for red tape could be another challenge: companies are already reporting months-long delays in securing appointments for their new hires to get work permits."Bureaucracy in Germany is utterly crippling for most highly-qualified workers when they first encounter it, especially if they don't speak German," said Diana Stoleru of Berlin startup Lendis. (Writing by Thomas Escritt; Editing by Mark Potter)By Rene Wagner and Jan Schwartz \ No newline at end of file diff --git a/news/AMZN/2023.01.30/AMAZON COM INC : Credit Suisse reiterates its Buy rating.txt b/news/AMZN/2023.01.30/AMAZON COM INC : Credit Suisse reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..b75bebb8f0933de0d9d6dfad21c0646790fdf148 --- /dev/null +++ b/news/AMZN/2023.01.30/AMAZON COM INC : Credit Suisse reiterates its Buy rating.txt @@ -0,0 +1 @@ +In a research note published by Stephen Ju, Credit Suisse advises its customers to buy the stock. The target price is being increased from USD 142 to USD 171. \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Asian stocks slip as investors eye central bank hikes.txt b/news/AMZN/2023.01.30/Asian stocks slip as investors eye central bank hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..8a07647ecf4e9245d7559e0d7c0bb6d1675c779f --- /dev/null +++ b/news/AMZN/2023.01.30/Asian stocks slip as investors eye central bank hikes.txt @@ -0,0 +1 @@ +Investors broadly expect the U.S. Federal Reserve will raise interest rates by 25 basis points (bps) on Wednesday. Rate announcements are due on Thursday from both the Bank of England and the European Central Bank - and both are expected to hike rates by 50 bps.Meanwhile, more than 100 S&P 500 companies including Apple, Amazon.com and Google parent Alphabet are expected to report results this week, which also will see the publication of closely watched U.S. employment numbers."It's a big week for both central banks and U.S. equities, with ... some of the household names due to make earnings announcements that will provide a micro overview of the macro economy," ANZ analysts said in a note."We expect a 25 bps (U.S.) rate rise and anticipate that the Fed will caution against an early pause in the tightening cycle ... Risk appetite could be vulnerable to a correction."Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1%. U.S. stock futures, the S&P 500 e-minis, rose 0.1%. Japan's Nikkei stock index slid 0.1% while Australian shares were up 0.2%. China's blue-chip CSI300 index remained flat in early trade. Hong Kong's Hang Seng index opened up 0.4%.On Monday, U.S. stocks lost ground with the major indexes sinking, weighed down by declines in technology and other giant corporations' shares. The Dow Jones Industrial Average fell 0.8% to 33,717.09, the S&P 500 lost 1.3% to 4,017.77 and the Nasdaq Composite dropped 2.0% to 11,393.81.Despite Monday's declines, the S&P 500 remained on track to post its biggest January gain since 2019.At the end of the Fed's two-day policy meeting on Wednesday investors will be glued to Chair Jerome Powell's news conference for clues on whether the rate-hiking cycle may be coming to a close, and for signs of how long rates could stay elevated. Markets will also grapple with a flood of U.S. economic data, culminating in Friday's payrolls report for January. Investors see signs of weakening in the labour market as a key factor in bringing down high inflation. U.S. Treasury yields remained firm ahead of the central bank meetings and economic data, with the yield on benchmark 10-year Treasury notes US10YT=RR standing at 3.5384% compared with its U.S. close of 3.551% on Monday. The two-year yield, which rises with traders' expectations of higher Fed fund rates, touched 4.2402% compared with a U.S. close of 4.261%. In currencies, the U.S. dollar, which was poised for its fourth month of declines, was down at 102.19 against a basket of other major currencies. The European single currency was up 0.1% on the day at $1.0852, having gained 1.4% in a month.In the energy market, oil prices fell on Monday ahead of the expected hikes by central banks and signals of strong Russian exports. U.S. crude ticked up 0.2% to $78.02 a barrel while Brent crude settled at $84.9 per barrel early in the Asia session. Gold was slightly higher. Spot gold was traded at $1922.91 per ounce. [GOL/] (Editing by Kenneth Maxwell)By Julie Zhu \ No newline at end of file diff --git a/news/AMZN/2023.01.30/BlackRock ups lobbying spending, Renault and Nissan...txt b/news/AMZN/2023.01.30/BlackRock ups lobbying spending, Renault and Nissan...txt new file mode 100644 index 0000000000000000000000000000000000000000..23c5562a525030436e7ab5cb276f651a5cafa917 --- /dev/null +++ b/news/AMZN/2023.01.30/BlackRock ups lobbying spending, Renault and Nissan...txt @@ -0,0 +1,9 @@ + +BlackRock, Amazon, Toyota, Renault, Nissan, Hermès, BP Plc, Ryanair, Unilever, Shell, Philips, Legal & General, 888, Rio Tinto, BBVA and Commerzbank feature in this press review! + + + + + +  +  diff --git a/news/AMZN/2023.01.30/Copper under pressure, China demand worry dominates mood.txt b/news/AMZN/2023.01.30/Copper under pressure, China demand worry dominates mood.txt new file mode 100644 index 0000000000000000000000000000000000000000..c7b59a4b8e170c902094ec118f64b59b91f19b6b --- /dev/null +++ b/news/AMZN/2023.01.30/Copper under pressure, China demand worry dominates mood.txt @@ -0,0 +1,32 @@ +LONDON, Jan 30 (Reuters) - Copper prices dropped on +Monday as worries about the outlook for demand in top consumer +China dominated sentiment ahead of data from the country's +manufacturing sector, while a softer dollar provided some +support.Benchmark copper on the London Metal Exchange was +down 0.7% at $9,197 a tonne at 1702 GMT. It hit a seven-month +high earlier this month as speculators piled in after China +removed its COVID-19 restrictions."Production of metal/copper containing goods in China, +things like cars and washing machines, rose significantly last +year. They don't need to be produced this year even if shoppers +return," said Julius Baer analyst Carsten Menke.Neither does Menke expect any boost to metals demand from +the property sector. "China's population is shrinking, demand +for property is declining structurally, why would the government +use property to stimulate growth?"Clues to demand prospects will come from surveys of +purchasing managers in China's manufacturing sector this week.A lower U.S. currency makes dollar-priced metals cheaper for +holders of other currencies, which could boost demand.The future direction of interest and currency rates could be +determined by earnings reports from Apple, Alphabet +and Amazon and a meeting of the Federal +Reserve this week."We have long argued that the Fed will need to take a rate +pause at some point, but we think it will not do so at this +particular meeting," Edward Meir, analyst at ED&F Man Capital +Markets, said.Technical support for copper is around $9,025 where a +Fibonacci retracement level and the 21-day moving average meet.Meanwhile, the zinc market is focused on dwindling stocks in +LME approved warehouses , which at 17,425 tonnes are +at their lowest since 1989 and large holdings of zinc warrants +and cash contracts <0#LME-WHC>.Concern about availability on the LME has created a premium +or backwardation for the cash over the three-month zinc +contracts , which was last trading at $26 a tonne.Three-month zinc was up 0.7% at $3,438 a tonne.In other metals, aluminium was down 1.5% at $2,588 a +tonne, lead fell 1.7% to $2,145, tin ceded 3.6% +to $29,740 and nickel was up 1.5% at $29,350. +(Reporting by Pratima Desai; editing by Kirsten Donovan and +Barbara Lewis) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Could The CCI's Determination To Take Down E- Commerce Marketplaces Really Be Counter-P...txt b/news/AMZN/2023.01.30/Could The CCI's Determination To Take Down E- Commerce Marketplaces Really Be Counter-P...txt new file mode 100644 index 0000000000000000000000000000000000000000..a950dc7523f597d6913ea98fd12f692dc7797365 --- /dev/null +++ b/news/AMZN/2023.01.30/Could The CCI's Determination To Take Down E- Commerce Marketplaces Really Be Counter-P...txt @@ -0,0 +1,9 @@ +Rarely does a day go by, without the Confederation of All India Traders (CAIT) or the All India Online Vendors Association (AIOVA), both powerful trader lobbies, accusing foreign owned e-commerce entities (such as Amazon and Flipkart) of having used underhanded means to circumvent the intent of India's Competition Act and Foreign Direct Investment policy. The accusations themselves come with such frequency, that it is surprising that they continue to be taken seriously by news agencies, as well as the Indian Government. This speaks to the serious political muscle that these associations enjoy as a large vote bank, which must be kept happy.Is it at all possible that in this instance, the focus on these e-commerce giants is doing the opposite of encouraging free and fair competition? Does the CCI's continued concentration on these e-commerce giants have the propensity to force these already squeezed businesses to shut shop? Where will this leave the Indian consumer that has greatly benefited from the marketplace model during the pandemic? Will it be to the detriment of small businesses that online e-commerce has purportedly saved during the pandemic by providing them an outlet to their wares?Let us consider some of the claims and consequences:1. Predatory PricingOne allegation is that these foreign owned ecommerce entities ensure that goods are priced below cost, with the intention of bleeding out competitors. Once these competitors have been pushed out, these e-commerce entities would then raise their prices to monopoly levels to recoup their losses. There are a few problems with this assertion:Overall, the breaking of the monopoly of mom-and-pop stores in their limited geographies, providing lower prices, a wider range, while also enabling the convenience of not having to leave the house during a pandemic in terms of customer benefit should be seen as far outweighing the need to protect the bottom line of these stores that have had it all their own way so far.The claim from trade associations that foreign owned e-commerce entities are putting small retailers out of business is obviously a self-defeating one, because it means that they compete, necessarily making the market not restricted only to e-commerce marketplaces, and greatly reducing the likelihood that they are dominant in a market where the vast majority of sales are still made directly from a local store.2. Use of Third-Party Seller DataWhile the CCI decided not to pursue this in March of 2022 against Amazon, there have been repeated claims/concerns and news reports raised about the use of third-party seller data to reverse engineer goods of leading brands and small businesses, thereafter undercutting them to put them out of business through the entity's own 'private brands'.This again is a claim that would require 'dominance' to be established. It is understandable if the brands have no choice but to sell on the marketplace, which is for all practical purposes an essential facility, but this is clearly not the case. Other than there being multiple online marketplaces, these brands can, and often do sell their goods through brick-and-mortar stores, as well as their own websites.If it can indeed be established that no dominance exists in favor of the e-commerce marketplace giants we have mentioned before, one cannot help but come to the conclusion that the outcome of the use of data is clearly pro-competitive. These private brands usually offer a cheaper alternative to branded goods, often aping the market leader. Consumers then have a choice of buying an established product at a slightly higher price, or a cheaper substitute that is designed to do the same job.Should the branded product have a suitably superior quality, be suitably differentiated, or be priced suitably reasonably, it is certain to survive. This is essentially the kind of competition that the free market predicates.3. Differential TreatmentThis is another area where the lines are extremely blurred between Competition Law and FDI Policy. Section 4(2) of the Competition Act 2002 states that a 'dominant' party cannot impose unfair or discriminatory conditions in the sale of services, here to be read as access to the marketplace. Needless to state here that the establishment of dominance would be a necessary criteria for this to even begin to be considered as something that could potentially fall foul of the Act.Press Note 2, however requires the e-commerce entity to maintain a level playing field for its sellers on the platform.It is notable that Press Note 2 also establishes that an ecommerce entity with FDI cannot have an ownership interest in sellers, and cannot dictate prices. Logically thus, what interest would a marketplace that survives on commissions have to discriminate against a seller, but based on performance or customer satisfaction?It is interesting to note that the Enforcement Directorate, one of India's most powerful enforcement agencies, responsible for enforcing economic laws and a part of the Department of Revenue, only chose to send a notice to Flipkart and not Amazon for purported violation of FEMA, asking why a fine to the tune of USD 1.35 Billion should not be imposed.2It appears that another way to bell the cat has been found here, where the antitrust challenge was destined to fail.AnalysisThere is little doubt that the overall impact of having Amazon and Flipkart operate and compete with each other, as well as disrupt existing supply chains is greatly pro-competitive when viewed from afar. Availability and customer choice have greatly improved. Prices and delivery times have nosedived.Add to this the fact that both provide jobs, either directly or indirectly to thousands of people, which goes up significantly during Big Billion Days and the Great India Sale festivals. There are also multiple instances that can be found on the internet, whereby Amazon and Flipkart claim to have taken steps such as waiving listing and onboarding fees and providing working capital loans to enable small businesses to keep afloat during the pandemic.Not for a minute can it be claimed that these organizations act solely altruistically. Positive media coverage and attention are nothing but attempts to drive up stock prices and profits. But where really are these profits? Both Amazon and Flipkart have reportedly made losses of over 500 and 300 million USD respectively3. This is without accounting for wholesale arms of both entities which also make massive losses.Walmart procured a 77% stake in Flipkart in May of 2018 for USD 16 Billion. This was surely done with the hope that Flipkart would become profitable at some point in the future, or at least that Walmart would be able to sell its stake down the line profitably. Unfortunately for them, later that year, PN2 would come into play that would cut off one of the avenues to be able to make revenue, i.e. by selling directly to the customer.It appears increasingly unlikely that Amazon or Flipkart will ever be able to turn it around to become profitable, particularly with mounting legal expenses and the threat of millions being imposed upon them as a fine.It will be unfortunate if the myopic protectionist measures to protect Indian companies leads to a withdrawal of these established global e-commerce giants.While active outreach programs that ensure you stay in the news for all the right reasons e.g. providing jobs, enabling cottage industries and small Indian businesses succeed will certainly help stem the tide of popular opinion against the 'outsiders', the importance of visibly and obviously being in compliance cannot be overstated particularly when it comes to FDI norms and the Competition Act. Some of the top most priorities should be:Admittedly, there is no bullet proof solution for safeguarding investments in an economy where ad-hoc decisions are unfortunately commonplace. The 4 steps mentioned above however, should go some way is providing some security to businesses.Footnotes1. Refer to paragraph 97 of Fast Track Call Cab Pvt. Ltd and Anr. Vs. ANI Technologies Pvt. Ltd. (6 of 2015)2. Refer to https://economictimes.indiatimes.com/industry/services/retail/enforcement-directorate-threatens-flipkart-its-founders-with-1-35-billion-fine-say-sources/articleshow/85056916.cms3. Refer to https://www.business-standard.com/article/companies/flipkart-clocks-25-growth-in-fy21-revenue-at-rs-43-357-cr-losses-drop-23-122010401221_1.htmlThe content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Dhruv Singh +G&W Legal +C-9 / 9624 +Vasant Kunj +New Delhi +110070 +INDIA +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Is Bitcoin benefiting from the January effect? - Crypto Recap.txt b/news/AMZN/2023.01.30/Is Bitcoin benefiting from the January effect? - Crypto Recap.txt new file mode 100644 index 0000000000000000000000000000000000000000..b54bfa137a75f7cb60d6a649c10f4777b37e5625 --- /dev/null +++ b/news/AMZN/2023.01.30/Is Bitcoin benefiting from the January effect? - Crypto Recap.txt @@ -0,0 +1,42 @@ + +Block 1: Essential News + +Amazon accelerates into the cryptosphere + +Amazon is reportedly planning to launch a digital asset service, notably based on NFT. The project will mainly focus on blockchain-based video games and related NFT applications. + +Coinbase has been fined 3.3 million euro + +The Dutch Central Bank (DNB) imposed this fine for operating in non-compliance with local anti-money laundering and anti-terrorist financing law between November 2020 and August 2022. The DNB said Coinbase Europe Limited would have received a competitive advantage due to its late registration. Coinbase has until March 2 to contest the fine, and said it was based on the time it took to obtain registration. + +Porsche: A turn off for NFT collection + +Huge setback for Porsche in launching its NFT collection. The prestige car brand launched a collection of 7500 NFTs, but the success was very mixed with only 25% of the NFTs sold in 48 hours. The price was set at 0.911 ETH (about $1350) in reference to the brand's 911 model. Due to the dissatisfaction of the community, Porsche suspended the NFT creation process (Mint) and reduced the amount of NFTs in circulation. The failure is attributed to a too high price and a bad communication. The roadmap was not clear and potential investors did not know why they should buy this NFT and what the concrete use cases associated with it would be. It seems that Porsche went a little too fast in the Web3 adventure. + + +Cryptocurrency adoption up 39% in 2022 + +The number of cryptocurrency holders reached 425 million in 2022. A report from Crypto.com shows that despite challenging market conditions and an anxiety-inducing macroeconomic atmosphere, the crypto ecosystem continues to attract new users. In January 2022, there were 306 million cryptocurrency holders worldwide. In December, that number reached 425 million, a 39% increase. The end of the year showed a particularly sharp increase. +. + +Number of cryptocurrency holders worldwide +Crypto.com +Block 2: Crypto Analysis of the Week +Is Bitcoin, and more broadly the cryptocurrency market, benefiting from the so-called "January effect"? That unique month where returns are on average higher than others and small cap stocks often have an exceptionally strong month. +We don't know exactly what causes the January effect. But we have some ideas. The end of December marks the end of the fiscal year and a key period for fund managers with their investors and for banks with their regulators. So there is a lot going on at the end of December, which could indirectly influence trading behavior in January. +Probably one of the most important factors is the tax loss harvest. For individual investors, it may be worthwhile to sell losing securities before the end of the year and thereby realize a tax loss. So the theory suggests that yielding stocks with little momentum - or those that literally got hammered like 2022 - can have a good January as they rebound from a tax sale in December. +And for bitcoin, the rebound at the beginning of the year is part of a broader trend in the financial markets where we've seen the riskiest, ultra-speculative stocks clearly rebound. Take meme stocks - shares of companies that have often become popular topics on social networks, and see their stock prices rise dramatically from time to time as a result of the crowd - which can be represented by the Roundhill MEME ETF, which includes stocks such as AMC, Robinhood and Gamestop, among others. It rose by 22% at the beginning of the year after being slaughtered in 2022, losing more than 60%, much like bitcoin. We can also look at Cathie Wood's Ark Invest Innovation fund, which is up 25% over the start of the year +. + +Since the beginning of January, bitcoin seems to benefit from the renewed appetite for ultra-risk in traditional finance, as evidenced by the surge of these speculative stocks. More generally, this gives the impression that investors are hoping that 2023 will be more like 2021 than 2022. It makes sense that the January effect will be more pronounced this time around, given how brutal 2022 will be for almost every type of investment. Related to bitcoin and cryptocurrencies, it is prudent to wait a little longer before selling the bear skin permanently. +Block 3: Tops & Flops +Cryptocurrencies in terms of capitalization (Click to enlarge) + + +MarketScreener + +Block 4: Readings of the week +ChatGPT is coming to the classrooms. Don't Panic (Wired) +Most Crypto Criminal Funnels Through Just 5 Exchanges (Wired) +People Don't Read Books (The Atlantic) +How could the Crypto Deal business pick up soon? The latest woes of Gemini and DCG (The Information) diff --git a/news/AMZN/2023.01.30/It's all about central banks this week.txt b/news/AMZN/2023.01.30/It's all about central banks this week.txt new file mode 100644 index 0000000000000000000000000000000000000000..b0c68f0a516bf423e0dee1534c18d36768253e7f --- /dev/null +++ b/news/AMZN/2023.01.30/It's all about central banks this week.txt @@ -0,0 +1,38 @@ + +I think it's safe to say that the Fed's decision on Wednesday will be this week's focus. For the new readers or listeners among you, I will explain why. This is because investors generally try to anticipate what is going to happen in the foreseeable future to optimize their asset allocations. For example, investing in companies that have strong earnings or low debt when the economic outlook deteriorates. Or investing in cyclical companies whose earnings are soaring when the economy is about to rebound. There are many classic patterns of this type in finance. + +Since the financial crisis of 2008, central banks have taken control of economic destinies by drowning fears of financial collapse in new money. They have accustomed investors to evolving in a world of abundant liquidity. As a result, these investors have taken increasingly risky bets. Yes, when money flows freely, it can irrigate areas where investors would not even dream of going under normal conditions. Speculative bubbles are formed. Some of them burst in 2022, notably because central banks were forced to reduce access to free money for fear of an inflationary spiral. To do so, they unraveled their asset purchase programs while raising their key rates. Investors then drastically reduced their riskiest bets: goodbye SPAC, meme-shares, companies without business models, crazy crypto-currencies, etc. Currently, the market is watching for the moment when central banks (and when I say central banks, it's mostly the Fed) will stop raising rates. Because that means two things: one, that the economic situation has stabilized. On the other hand, it means that the time when rates will come down again is approaching. In other words, a new growth cycle could appear and money will be cheaper. Hence the return of risk appetite. +This is more or less the situation now. And investors are looking to get two steps ahead. They know that the Fed is going to raise rates again, probably twice by the end of spring, but they are already gambling on the upturn that they hope will follow. To avoid missing the bandwagon, they're getting on the bandwagon early, if you will. On Wednesday, the Fed will likely announce another rate hike, but limited to the bare minimum, 25 basis points. Will it try to cool the market's ardor? This is the real unknown of the week. +Because January saw buyers return to the stock market in droves. In particular on cyclical or slightly daring bets. The taste for risk can be seen in the index charts: the MSCI China, the Hang Seng and the Argentine Merval rose by more than 14% in January. The Nasdaq, which was crushed in 2022, has recovered 11% in one month. Many markets have gained 9 to 10% since January 1, which is exceptional: Paris, Madrid and Seoul in particular. Last week, American indices were at their best, while Europe, which had made a better start in 2023, made only modest progress. +The week will be marked by the monetary policy decisions of three central banks. The Fed on Wednesday, then the European Central Bank and the Bank of England on Thursday. There will also be the earnings reports of some 40 companies worth more than $100 billion on the agenda this week. In the United States, Apple, Alphabet and Amazon on the evening of February 2. In Europe, Novo Nordisk, Novartis, Roche, Shell and Sanofi among others. But they are not the only ones and a few hundred smaller companies are also scheduled. +To end this column, I will mention a few important developments over the weekend: The United States, Japan and the Netherlands have reached an agreement to limit China's access to certain key semiconductor technologies. On a related topic, the Wall Street Journal revealed that China's main military nuclear lab continued to use advanced U.S. chips despite the 1997 embargo. Meanwhile, House Speaker Kevin McCarthy announced that he would meet with Speaker Joe Biden on Wednesday to discuss raising the federal debt ceiling. +Mainland Chinese equity markets reopened this morning after a week-long break for the Lunar New Year. +This morning, U.S. futures were all down, with the Nasdaq 100 losing 1.2% due to a fall in growth stocks ahead of central banks decisions. +  +Economic highlights of the day: +There aren't any important indicators today in the US. +The dollar is down 0.2% against the euro to EUR 0.9179 and is stable against the pound at GBP 0.8070. The ounce of gold is trading at USD 1925. Oil is losing ground, with North Sea Brent crude at USD 86.4 per barrel and US light crude WTI at USD 79.78. The yield on 10-year US debt is stagnant at 3.50%. Bitcoin is down to USD 23,000. +  +In corporate news: +* Apple, Amazon and Alphabet, which are due to report their fourth quarter results this week, are each down about 1.5% in premarket trading. +* Wall Street-listed Chinese companies Alibaba, Bilibili, Pinduoduo and JD.Com are down 4 percent to 7.5 percent in premarket trading after Mike McCaul, the new chairman of the U.S. House of Representatives' Foreign Affairs Committee, said Sunday that the risks of a conflict with China over Taiwan are "very high". +* Goldman Sachs Group has restructured its assets in Russia, which could pave the way for a full exit from the country, RBC reported Monday, citing two investment market sources. +* Biogen and Eisai announced in a joint statement that the Japanese Ministry of Health has granted priority review status to the two companies' Alzheimer's disease treatment lecanemab. +* Boeing - The U.S. aircraft manufacturer will deliver on Tuesday to Atlas Air the last Boeing 747, a twin-aisle aircraft designed in the late 1960s to meet the demand for mass travel and which will be discontinued. +  +Analyst recommendations: + +Axalta: Citi raised the recommendation to buy from neutral. PT up 20% to $35.19. +Eastman Chemical: Vertical Research Partners downgrades to hold from buy. PT up 6% to $92. +Federal Realty: Compass Point Research & Trading raised its recommendation to buy from neutral. PT up 12% to $125. +HCA Healthcare: Truist Securities raises price target to $290 from $270. Maintains buy rating. +Kohl's: Goldman Sachs reinstated coverage with a recommendation of sell. PT down 14% to $27. +Lockheed Martin: DZ Bank AG upgrades to buy from hold. PT up 14% to $523. +Macy's: Goldman Sachs reinstated coverage with a recommendation of buy. PT up 21% from last price to $28. +Nordstrom: Goldman Sachs reinstated coverage with a recommendation of neutral. PT up 8.6%  from last price to $20. +Regeneron: Cowen upgrades to outperform from market perform. PT jumps 18% to $875. +Rentokil: Numis moves from accumulate to hold targeting GBp 470. +Tanger: Compass Point Research & Trading LLC downgrades to neutral from buy. PT up 9% to $21. +Tesla: Berenberg upgrades to buy from hold. PT up 12% to $200. +Uber: MoffettNathanson initiated coverage with a recommendation of outperform. PT set to $47. + diff --git a/news/AMZN/2023.01.30/Japan's Nikkei tracks Wall Street gains to end at over 1-month high.txt b/news/AMZN/2023.01.30/Japan's Nikkei tracks Wall Street gains to end at over 1-month high.txt new file mode 100644 index 0000000000000000000000000000000000000000..98928ea4869e92300340681b4aa7c3a4b46bad8b --- /dev/null +++ b/news/AMZN/2023.01.30/Japan's Nikkei tracks Wall Street gains to end at over 1-month high.txt @@ -0,0 +1,30 @@ +TOKYO, Jan 30 (Reuters) - Japan's Nikkei index ended at +a more than one-month high on Monday, tracking Wall Street gains +in the last session, although the gains were capped by caution +ahead of the U.S. Federal Reserve's meeting and domestic +corporate earnings announcements.The Nikkei share average gained 0.19% to close at +27,433.40, its highest close since Dec. 16, after briefly +slipping in the negative territory. The broader Topix +was marginally down 0.01% at 1,982.40.The week is filled with market-moving events, so investors +are being more cautious, said Shigetoshi Kamada, general manager +at the research department at Tachibana Securities."I am unsure if this (upbeat) momentum will continue this +week. Investors are cautious and could sell stocks to book +profits ahead of the Fed meeting, U.S. employment data as well +as domestic corporate results."Wall Street rose on Friday, marking the end of a rocky week +in which economic data and corporate earnings guidance hinted at +softening demand but also economic resiliency ahead of the U.S. +Federal Open Market Committee this week.A string of high profile earnings reports are on tap +globally, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Investors are also reacting to Japan's corporate outlook, as +the earnings season reaches its peak this week.Fanuc jumped 3.58% after the robot maker raised its +annual operating profit outlook and announced a 5-for-1 stock +split.Shin-Etsu Chemical, up 5.08%, posted a fourth +straight session of gains as the silicon wafter maker raised its +annual operating profit outlook.Japanese semiconductor equipment makers showed muted +reaction to news that Washington had made progress towards a +deal to curb exports of some advanced chip-making equipment to +China with several governments.Tokyo Electron rose 0.68% and Advantest +lost 0.32%, while Nikon inched up 0.16%. +(Reporting by Junko Fujita; editing by Uttaresh.V and Rashmi +Aich) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Marketmind: Fasten your seatbelts.txt b/news/AMZN/2023.01.30/Marketmind: Fasten your seatbelts.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9dd4596c217f7493ad88980bc3edf3e5766280e --- /dev/null +++ b/news/AMZN/2023.01.30/Marketmind: Fasten your seatbelts.txt @@ -0,0 +1 @@ +Wall Street's downbeat start to an action-packed week has set a bumpy course for Asian markets on Tuesday.U.S. stocks appeared to take a breather near the end of a month of solid gains, dipping into red as market participants gird their loins for multiple central bank policy decisions and a spate of high profile megacap earnings, with the Labor Department's hotly anticipated January employment report due on Friday.The Federal Reserve convenes its two-day monetary policy meeting on Tuesday, which is expected to culminate on Wednesday with a bite-sized 25 basis point hike to the Fed funds target rate.The Bank of England and the European Central Bank are poised to follow the Fed by hiking crucial interest rates by a more aggressive 50 basis points.On the earnings front, Caterpillar Inc, General Motors Co, Pfizer Inc, United Parcel Service Inc and McDonald's Corp are expected before Tuesday's opening bell.Meta Platforms Inc waits in the wings on Wednesday, with Apple Inc, Amazon.com and Alphabet Inc on deck for Thursday.Those earnings calls, along with Fed Chairman Jerome Powell's post-rate-decision remarks, will be parsed and scrutinized by investors for clues regarding the likelihood, severity and timing of a potential recession.Elsewhere, the U.S. dollar gained ground against a basket of world currencies, crude prices plunged as the prospect of rate hikes and robust Russian exports dampened optimism over rebounding Chinese demand. Speaking of which, the world's second-largest economy's fiscal revenue growth decelerated sharply in 2022 to 0.6% from 10.7% in 2021, largely due to Beijing's strict COVID-19 policies.Those policies have since been relaxed, sparking hopes of demand revival in China, which could take some of the sting of restrictive central bank policy. Here are some key developments that could provide more direction to markets on Tuesday:- South Korea and Japan are expected to post December industrial output and retail sales data- China due to release manufacturing and composite PMI reports for January- U.S. will follow Case-Shiller home prices (November), consumer confidence (January) and Chicago PMI (January) (Reporting by Stephen Culp; Editing by Josie Kao)By Stephen Culp \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Marketmind: This might hurt.txt b/news/AMZN/2023.01.30/Marketmind: This might hurt.txt new file mode 100644 index 0000000000000000000000000000000000000000..b4057241bd779c3b5d02b8a8db38f70e32541476 --- /dev/null +++ b/news/AMZN/2023.01.30/Marketmind: This might hurt.txt @@ -0,0 +1 @@ +This week promises to be one of the most action-packed in a while. Three of the world's most influential central banks are likely to raise rates to their highest since the financial crisis, while Q4 earnings season is starting to gather pace.Big Tech royalty in the form of Apple, Alphabet and Amazon deliver earnings. With the tech sector bleeding profitability and jobs, whatever these three say on that front could carry almost as much weight as whatever the Federal Reserve says when it pronounces on the economic outlook on Wednesday.With 109 of the S&P's 500 components set to report in the coming five days alone, investors are going to get a non-stop barrage of hot takes on anything from inflation to the impact of the gyrations of the dollar, to China and beyond.The euphoria that marked the end of 2022, fed by China dismantling its COVID restrictions and more benign energy prices, has carried through this month, despite a decidedly gloomy earnings season and an insistence among central bankers that high inflation isn't going anywhere any time soon.The S&P itself is heading for a 6.1% rise this month - which would mark its best January since 2019. The first month of the year tends to be one of the strongest anyway, according to Refinitiv data.In the last 94 years, the S&P has risen by 1.2% on average in January, compared with an average rise of 1.3% in December, the month with the highest returns.One of the major boosts that the stock market has enjoyed this January has been the seemingly cast-iron conviction among traders and investors that the Fed, while not bluffing exactly, won't raise rates as much as policymakers say they will, and that inflation won't prove nearly as sticky.This has translated into a near 30 basis-point drop in 10-year Treasury yields and the S&P hasn't got as much bang for its buck in the month of January from a drop in yields like this in recent memory.Even in strong Januarys, such as that of 2019, when the index rose by 7%, 10-year yields fell only 6 bps. In January 1987, when the index rose 13%, yields fell just 6 bps.With so much riding on the Fed being wrong and the markets being right about the outlook for monetary policy, there would appear to be a lot more scope than usual for equity bulls to get a smack in the face from anything that might force a rethink on where U.S. rates might peak. Key developments that should provide more direction to markets on Monday: - Dallas Fed Manufacturing Business Index January -18.8 prior- Dallas Fed PCE 3.4% prior- German economy unexpectedly shrinks in Q4 (Reporting by Amanda Cooper; Editing by Hugh Lawson) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus.txt b/news/AMZN/2023.01.30/Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus.txt new file mode 100644 index 0000000000000000000000000000000000000000..0ab02216967df8173e8070c4fbe3ef229b56f935 --- /dev/null +++ b/news/AMZN/2023.01.30/Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Meta, Alphabet, Amazon.com slide ahead of earnings*Fed decision on interest rates on Wednesday*Indexes down: Nasdaq 1.29%, S&P 0.74%, Dow 0.23%Jan 30 (Reuters) - The tech-focused Nasdaq fell more +than 1% on Monday as megacap growth stocks including Apple, +Amazon and Alphabet fell ahead of their earnings reports this +week, while investors awaited the U.S. Federal Reserve's +rate-setting meeting.The central bank is seen hiking the Fed funds rate by 25 +basis points (bps) at the end of its two-day policy meeting on +Wednesday, followed by Fed Chair Jerome Powell's speech, which +will be scrutinized for any signs of further increases."How strong of a language he (Powell) uses is what it's +going to come down to," said Andre Bakhos, president at Ingenium +Analytics LLC in Bernardsville, New Jersey.This will likely be the smallest rate increase since the +Fed kicked off its tightening cycle 10 months ago with a 25 bps +hike, with financial markets pricing in a final rate hike in +March.Money markets now see rates peaking at 4.9% in June, still +below the 5% level expected by Fed policymakers.After a slew of layoffs by large-cap tech and financial +firms through the month, investors will now keep an eye on the +Labor Department's January nonfarm payrolls data expected on +Friday.A total of 107 S&P 500 firms are expected to report +quarterly results in the busiest week of the earnings season, +including heavyweight growth companies Apple Inc, +Amazon.com Inc, Alphabet Inc and Meta +Platforms Inc, each down between 1% to 2%.Analysts expect S&P 500 earnings for the fourth quarter to +decline 3%, compared with a 1.6% drop expected at the beginning +of the year, according to Refinitiv data.Wall Street is expected to end the month higher, with the +Nasdaq and the S&P 500 Growth index recouping +more than half their monthly losses from December. The S&P 500 +index is set for the best start to the year since 2019.Tighter monetary policies have stood in the way of growth +firms expanding their businesses, which have also been pressured +for much of last year by high Treasury yields.Bakhos said that the decline in growth stocks on Monday +could be due to some profit-taking, noting that earnings from +these companies could be less dire than what most expect.The European Central Bank and the Bank of England are also +seen raising interest rates later in the week.At 12:31 p.m. ET, the Dow Jones Industrial Average +was down 79.27 points, or 0.23%, at 33,898.81, the S&P +500 was down 30.03 points, or 0.74%, at 4,040.53, and the +Nasdaq Composite was down 149.66 points, or 1.29%, at +11,472.05.Johnson & Johnson slipped 3% on the dismissal of a +bankruptcy petition filed by its LTL Management unit by the 3rd +U.S. Circuit Court of Appeals.American Express Co rose 2.7% after several +brokerages raised price targets on the stock on its strong +full-year forecast.Declining issues outnumbered advancers for a 1.70-to-1 ratio +on the NYSE and for a 1.66-to-1 ratio on the Nasdaq.The S&P index recorded five new 52-week highs and no new +lows, while the Nasdaq recorded 46 new highs and 13 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Nasdaq leads drop in futures ahead of Fed rate decision.txt b/news/AMZN/2023.01.30/Nasdaq leads drop in futures ahead of Fed rate decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..705171f0edf678ebe1d1414f5a7f56cfb7e8b6e2 --- /dev/null +++ b/news/AMZN/2023.01.30/Nasdaq leads drop in futures ahead of Fed rate decision.txt @@ -0,0 +1 @@ +The U.S. Federal Reserve is seen hiking the Fed funds rate by 25 basis points (bps) at the end of its two-day policy meeting on Wednesday, close on the heels of data showing signs of slowing demand and cooling inflation. "The interest rate snowball is gathering speed, and its squashing down demand in its path," Susannah Streeter, markets analyst at Hargreaves Lansdown wrote in a client note. "Although rate rises are causing the U.S. economy to slip up, hopes have come in flurries that it will still have a soft landing. But there is nervousness ahead of the crucial Fed meeting this week." This will likely be the smallest rate increase since the Fed kicked off its tightening cycle 10 months ago with a 25 bps hike, with financial markets pricing in a final rate hike in March. Money markets now see rates peaking at 4.9% in June, still below the 5% level expected by Fed policymakers. [FEDWATCH]Heavyweight growth stocks, including Apple Inc, Amazon.com Inc and Alphabet Inc, fell about 1.5% each in premarket trading. They will report quarterly earnings on Thursday, after the bell.The tech-heavy Nasdaq index notched its fourth straight weekly gain on Friday.At 6:25 a.m. ET, Dow e-minis were down 242 points, or 0.71%, S&P 500 e-minis were down 40.25 points, or 0.99%, and Nasdaq 100 e-minis were down 164 points, or 1.34%. Other major central banks including the European Central Bank and the Bank of England are also seen raising interest rates later in the week. (Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Shares and bonds nervy as rate-hike week looms.txt b/news/AMZN/2023.01.30/Shares and bonds nervy as rate-hike week looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..9386fd7552ac4f165d2eee10f810c1537bc23dc0 --- /dev/null +++ b/news/AMZN/2023.01.30/Shares and bonds nervy as rate-hike week looms.txt @@ -0,0 +1,59 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Technology giants lead host of earnings results*Shares edge down after robust January rallyLONDON, Jan 30 (Reuters) - Stock markets worldwide +halted their January rally on Monday, pausing for breath at the +start of an agenda-setting week of central bank rate hikes and +data releases that will clarify if progress has been made in the +battle against inflation.Investors expect the Federal Reserve will raise rates by 25 +basis points on Wednesday, followed the day after by half-point +hikes from the Bank of England and European Central Bank, and +any deviation from that script would be a real shock.Europe's benchmark STOXX index fell 0.8% on Monday morning, +echoing a slight dip in MSCI's broadest index of Asia-Pacific +shares outside Japan, which has surged 11% in +January so far as China's reopening bolsters sentiment.The U.S. Nasdaq index is likewise on course for its best +January since 2001, a rally that will be tested by earnings +updates from tech giants this week.U.S. stocks were set to follow the nervous Monday mood +with S&P 500 futures down 1% and Nasdaq futures +falling 1.3%, as investors await guidance later in the week on +the Federal Reserve's policy.Analysts expect a hawkish tone suggesting that more needs to +be done to tame inflation."With U.S. labour markets still tight, core inflation +elevated and financial conditions easing, Fed Chair Powell's +tone will be hawkish, stressing that a downshifting to a 25bp +hike doesn't mean a pause is coming," said Bruce Kasman, chief +economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against +market pricing of rate cuts later this year."There is a lot of pushing to do given futures +currently expect rates to peak at 5% in March and to fall back +to 4.5% by year end.Europe offered a brisk reminder that the fight against +rising prices is far from over, as bond yields in the region +rose sharply on Monday in the wake of stronger-than-expected +Spanish inflation data.The data showing inflation rose 5.8% year-on-year in +January, against expectations of 4.7%, pushed up the zone's +benchmark German 10-year government bond yield 7 +basis points (bps) to 2.3190%, its highest since Jan. 10.Italian and Spanish yields also inched up.The dollar index was flat ahead of the week's key +data, on course for a fourth straight monthly loss of more than +1.5% on growing expectations that the Fed is nearing the end of +its rate-hike cycle.APPLE'S COREYields on 10-year notes have fallen 33 basis +points so far this month to 3.50%, essentially due to easing +financial conditions even as the Fed talks tough on tightening.That dovish outlook will also be tested by data on U.S. +payrolls, the employment cost index and various ISM surveys.Reading on EU inflation could be important for whether the +ECB signals a half-point rate rise for March, or opens the door +to a slowdown in the pace of tightening.As for Wall Street's recent rally, much will depend on +earnings from Apple Inc, Amazon.com, Alphabet +Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for +consumers globally and a snapshot of the China supply chain +issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe +iPhone 14 Pro demand is holding up firmer than expected," they +added. "Apple will likely cut some costs around the edges, but +we do not expect mass layoffs."Market pricing of early Fed easing has been a burden for the +dollar, which has lost 1.6% so far this month to stand at +101.85 against a basket of major currencies.The euro is up 1.5% for January at $1.0878 and +just off a nine-month top. The dollar has even lost 1.3% on the +yen to 129.27 despite the Bank of Japan's dogged +defence of its ultra-easy policies.The drop in the dollar and yields has been a boon for gold, +which is up 5.8% for the month so far at $1,930 an ounce.The precious metal was flat on Monday ahead of the slew of +key central bank moves and data releases.China's rapid reopening is seen as a windfall for +commodities in general, supporting everything from copper to +iron ore to oil prices.Oil steadied on Monday after earlier losses, with prices +bolstered by rising Middle East tension over a drone attack in +Iran and hopes of higher Chinese demand.Brent crude rose 10 cents, or 0.12%, to $86.76 a +barrel by 1200 GMT while U.S. West Texas Intermediate crude +added 4 cents, or 0.05%, to $79.72.(Reporting Lawrence White and Wayne Cole; Editing by +Christopher Cushing, Arun Koyyur and Christina Fincher) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Shares shaky as rate-hike week looms.txt b/news/AMZN/2023.01.30/Shares shaky as rate-hike week looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..22ed10e695987b5c81bbe002cfc11eebffe862fd --- /dev/null +++ b/news/AMZN/2023.01.30/Shares shaky as rate-hike week looms.txt @@ -0,0 +1,52 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Technology giants lead host of earnings results*Shares edge down after roaring January rallySYDNEY/LONDON, Jan 30 (Reuters) - Shares slipped on +Monday at the start of an agenda-setting week for markets in +which likely interest rate hikes in Europe and the United +States, as well as U.S. jobs and wage data will give markets a +fresh update on the battle against inflation.Investors expect the Federal Reserve will raise rates by 25 +basis points on Wednesday, followed the day after by half-point +hikes from the Bank of England and European Central Bank, and +any deviation from that script would be a real shock.Earnings from tech giants will also test the mettle of Wall +Street bulls, who are looking to propel the Nasdaq to its best +January since 2001.Europe's benchmark STOXX index fell 0.5% on Monday morning, +echoing a slight dip in MSCI's broadest index of Asia-Pacific +shares outside Japan, which has surged 11% in +January so far as China's reopening bolsters its economy.Meanwhile, U.S. stocks were set to follow the nervous +Monday mood with S&P 500 futures and Nasdaq futures +down nearly 1%, as investors await guidance later in the +week on the Federal Reserve's policy.Analysts expect a hawkish tone suggesting that more needs to +be done to tame inflation."With U.S. labour markets still tight, core inflation +elevated and financial conditions easing, Fed Chair Powell's +tone will be hawkish, stressing that a downshifting to a 25bp +hike doesn't mean a pause is coming," said Bruce Kasman, chief +economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against +market pricing of rate cuts later this year."There is a lot of pushing to do given futures +currently expect rates to peak at 5% in March, only to fall back +to 4.5% by year end.The dollar index was flat ahead of the data, on +course for a fourth straight monthly loss of more than 1.5% on +growing expectations that the Fed is nearing the end of its +rate-hike cycle.APPLE'S COREYields on 10-year notes have fallen 33 basis +points so far this month to 3.50%, essentially due to easing +financial conditions even as the Fed talks tough on tightening.That dovish outlook will also be tested by data on U.S. +payrolls, the employment cost index and various ISM surveys.Reading on EU inflation could be important for whether the +ECB signals a half-point rate rise for March, or opens the door +to a slowdown in the pace of tightening.As for Wall Street's recent rally, much will depend on +earnings from Apple Inc, Amazon.com, Alphabet +Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for +consumers globally and a snapshot of the China supply chain +issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe +iPhone 14 Pro demand is holding up firmer than expected," they +added. "Apple will likely cut some costs around the edges, but +we do not expect mass layoffs."Market pricing of early Fed easing has been a burden for the +dollar, which has lost 1.6% so far this month to stand at +101.790 against a basket of major currencies.The euro is up 1.5% for January at $1.0878 and +just off a nine-month top. The dollar has even lost 1.3% on the +yen to 129.27 despite the Bank of Japan's dogged +defence of its ultra-easy policies.The drop in the dollar and yields has been a boon for gold, +which is up 5.8% for the month so far at $1,930 an ounce.The precious metal was flat on Monday ahead of the slew of +key central bank moves and data releases.China's rapid reopening is seen as a windfall for +commodities in general, supporting everything from copper to +iron ore to oil prices.The oil market was hesitant amid concerns the likely Fed +rate hikes could choke fuel demand, with Brent down +nearly 1% $85.88 a barrel, while U.S. crude eased 87 +cents to $78.8.(Reporting by Wayne Cole and Lawrence White; Editing by +Christopher Cushing and Arun Koyyur) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Stocks dip, U.S. yields rise ahead of central bank flurry.txt b/news/AMZN/2023.01.30/Stocks dip, U.S. yields rise ahead of central bank flurry.txt new file mode 100644 index 0000000000000000000000000000000000000000..739ebd4dd620682774ba3b788fbd07fb3695060a --- /dev/null +++ b/news/AMZN/2023.01.30/Stocks dip, U.S. yields rise ahead of central bank flurry.txt @@ -0,0 +1,51 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Megacap stocks lead earnings results this week*MSCI index on track for biggest January pct gain since +2019NEW YORK, Jan 30 (Reuters) - A gauge of global stocks +dipped on Monday after six sessions of gains while the yield on +the U.S. ten-year Treasury rose for a third day, ahead of +central bank policy announcements and data that may shed light +on whether progress has been made in bringing down inflation.Investors widely expect the Federal Reserve will raise rates +by 25 basis points (bps) on Wednesday, with announcements on +Thursday from the Bank of England and European Central Bank +(ECB), both of which are largely expected to hike by 50 bps."This is probably a week where we are going to have a year’s +worth of surprises possibly, so it makes sense to me there is a +little bit of profit taking, some positioning ahead of some very +important meetings but also data releases," said Brian Jacobsen, +senior investment strategist at Allspring Global Investments in +Menomonee Falls, Wisconsin."(The Fed) would rather err on the side of sounding too +hawkish but talk is cheap - they are at the point now with the +hiking cycle where what really matters is what the data says and +what the Fed delivers."The Dow Jones Industrial Average fell 89.41 points, +or 0.26%, to 33,888.67, the S&P 500 lost 36.23 points, or +0.89%, to 4,034.33 and the Nasdaq Composite dropped +200.13 points, or 1.72%, to 11,421.58.The rate increase expected at the Federal Open Market +Committee's Jan. 31-Feb. 1 meeting would bring the policy rate +to the 4.5%-4.75% range. That's two quarter-point rate hikes +short of the level most Fed policymakers in December thought +would be "sufficiently restrictive" to bring inflation under +control. But futures currently expect rates to peak at +about 4.9% in June before retreating to 4.5% by year-end.Markets will also grapple with a host of U.S. economic data, +culminating in Friday's payrolls report for January. Investors +see signs of weakening in the labor market as a key factor in +bringing down high inflation. Other data included gauges of the +manufacturing and services sectors.The U.S. corporate earnings season also remains in high +gear, with earnings this week expected from the likes of Apple +, Alphabet and Amazon. Earnings for +S&P 500 companies are expected to show a decline of 3% for the +quarter, per Refinitiv data, weaker than the 1.6% fall seen at +the start of the year.Stocks in Europe were also lower, with rate-sensitive names +such as technology shares among the primary decliners.The pan-European STOXX 600 index lost 0.30% and +MSCI's gauge of stocks across the globe shed +0.68%. MSCI's index was on track for its biggest January +percentage gain since 2019 while the STOXX 600 was poised for +its largest January percentage gain since 2015.U.S. Treasury yields rose ahead of the central bank meetings +and economic data, with the 10-year yield up for a third +consecutive session. Benchmark 10-year notes were up +2.4 basis points to 3.542%, from 3.518% late on Friday.The greenback, which was poised for its fourth month of +declines as expectation have increased the Fed was nearing the +end of its rate-hiking cycle, was up slightly.The dollar index rose 0.098%, with the euro up +0.08% to $1.0876.The Japanese yen weakened 0.34% versus the greenback to +130.31 per dollar, while Sterling was last trading at +$1.2379, down 0.15% on the day.Crude prices fell ahead of the expected hikes by central +banks and signals of strong Russian exports.U.S. crude was down 1.13% at $78.78 per barrel and +Brent was at $85.75, down 1.05% on the day.(Reporting by Chuck Mikolajczak +Editing by Bernadette Baum) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Stocks fall, U.S. yields climb as central bank hikes awaited.txt b/news/AMZN/2023.01.30/Stocks fall, U.S. yields climb as central bank hikes awaited.txt new file mode 100644 index 0000000000000000000000000000000000000000..b3d60ba350d49becaf4045b083054e6f6f1e34fd --- /dev/null +++ b/news/AMZN/2023.01.30/Stocks fall, U.S. yields climb as central bank hikes awaited.txt @@ -0,0 +1,56 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Megacap stocks lead earnings results this week*MSCI index on track for biggest January pct gain since +2019NEW YORK, Jan 30 (Reuters) - A gauge of global stocks +retreated on Monday after six sessions of gains while U.S. +Treasury yields rose ahead of central bank policy announcements +and data that may shed light on whether progress has been made +in bringing down inflation.Investors widely expect the Federal Reserve will raise rates +by 25 basis points (bps) on Wednesday, with announcements on +Thursday from the Bank of England and European Central Bank +(ECB), both of which are largely expected to hike by 50 bps."The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market," said Keith Lerner, co-chief +investment officer at Truist Advisory Services in Atlanta, +Georgia.On Wall Street, U.S. stocks slumped, with 10 of the 11 S&P +sectors closing lower, while Johnson & Johnson lost +3.70% after a U.S. court rejected the company's plan to offload +into bankruptcy tens of thousands of lawsuits over its talc +products.The Dow Jones Industrial Average fell 260.99 points, +or 0.77%, to 33,717.09, the S&P 500 lost 52.79 points, or +1.30%, to 4,017.77 and the Nasdaq Composite dropped +227.90 points, or 1.96%, to 11,393.81.The rate increase expected at the Federal Open Market +Committee's Jan. 31-Feb. 1 meeting would bring the policy rate +to the 4.5%-4.75% range. That's two quarter-point rate hikes +short of the level most Fed policymakers in December thought +would be "sufficiently restrictive" to bring inflation under +control. But futures currently expect rates to peak at +about 4.9% in June before retreating to 4.5% by year-end.Markets will also grapple with a host of U.S. economic data, +culminating in Friday's payrolls report for January. Investors +see signs of weakening in the labor market as a key factor in +bringing down high inflation. Other data included gauges of the +manufacturing and services sectors.The U.S. corporate earnings season also rolls on, with +earnings this week expected from Apple, Alphabet +and Amazon. Earnings for S&P 500 companies +are expected to show a decline of 3% for the quarter, according +to Refinitiv data, weaker than the 1.6% fall seen at the start +of the year.Stocks in Europe closed lower, with rate-sensitive names +such as technology shares among the primary decliners after +inflation data from Spain came in above expectations while other +data showed the German economy unexpectedly contracted in the +fourth quarter.The pan-European STOXX 600 index lost 0.17% and +MSCI's gauge of stocks across the globe shed +0.99%. MSCI's index was on track for its biggest January +percentage gain since 2019 while the STOXX 600 was poised for +its largest January percentage gain since 2015.U.S. Treasury yields rose ahead of the central bank meetings +and economic data, with the 10-year yield up for a third +consecutive session. Benchmark 10-year notes were up +2.6 basis points to 3.544%, from 3.518% late on Friday.The greenback, which was poised for its fourth month of +declines as expectation have increased the Fed was nearing the +end of its rate-hiking cycle, was up for a third straight +session against a basket of major currencies.The dollar index rose 0.334%, with the euro +down 0.17% to $1.0848.The Japanese yen weakened 0.42% versus the greenback to +130.40 per dollar, while Sterling was last trading at +$1.2345, down 0.42% on the day.Crude prices fell ahead of the expected hikes by central +banks and signals of strong Russian exports.U.S. crude settled down 2.23% at $77.90 per barrel +and Brent settled at $84.90, down 2.03% on the day.(Reporting by Chuck Mikolajczak, additional reporting by Lewis +Krauskopf +Editing by Bernadette Baum and Deepa Babington) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Stocks fall, U.S. yields climb with central banks on tap.txt b/news/AMZN/2023.01.30/Stocks fall, U.S. yields climb with central banks on tap.txt new file mode 100644 index 0000000000000000000000000000000000000000..21f6f6d5488eea4be39d95e3b1a547c8f8eb88f6 --- /dev/null +++ b/news/AMZN/2023.01.30/Stocks fall, U.S. yields climb with central banks on tap.txt @@ -0,0 +1,54 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Megacap stocks lead earnings results this week*MSCI index on track for biggest January pct gain since +2019NEW YORK, Jan 30 (Reuters) - A gauge of global stocks +retreated on Monday after six sessions of gains while U.S. +Treasury yields rose ahead of central bank policy announcements +and data that may shed light on whether progress has been made +in bringing down inflation.Investors widely expect the Federal Reserve will raise rates +by 25 basis points (bps) on Wednesday, with announcements on +Thursday from the Bank of England and European Central Bank +(ECB), both of which are largely expected to hike by 50 bps."It would be pretty shocking for them to come out and do +anything other than 25 on Wednesday just because it has been +priced in there and they haven’t taken the opportunity to push +back on it," said Scott Ladner, chief investment officer at +Horizon Investments in Charlotte, North Carolina."It’s not necessarily in the Fed’s best interest to forecast +a pause or pivot at this stage – they still have an inflation +number that is too high, they still have an employment situation +they believe is too tight."The Dow Jones Industrial Average fell 189.88 points, +or 0.56%, to 33,788.2, the S&P 500 lost 43.59 points, or +1.07%, to 4,026.97 and the Nasdaq Composite dropped +193.19 points, or 1.66%, to 11,428.52.The rate increase expected at the Federal Open Market +Committee's Jan. 31-Feb. 1 meeting would bring the policy rate +to the 4.5%-4.75% range. That's two quarter-point rate hikes +short of the level most Fed policymakers in December thought +would be "sufficiently restrictive" to bring inflation under +control. But futures currently expect rates to peak at +about 4.9% in June before retreating to 4.5% by year-end.Markets will also grapple with a host of U.S. economic data, +culminating in Friday's payrolls report for January. Investors +see signs of weakening in the labor market as a key factor in +bringing down high inflation. Other data included gauges of the +manufacturing and services sectors.The U.S. corporate earnings season also continues to roll +on, with earnings this week expected from the likes of Apple +, Alphabet and Amazon. Earnings for +S&P 500 companies are expected to show a decline of 3% for the +quarter, per Refinitiv data, weaker than the 1.6% fall seen at +the start of the year.Stocks in Europe closed lower, with rate-sensitive names +such as technology shares among the primary decliners after +inflation data from Spain came in above expectations while other +data showed the German economy unexpectedly contracted in the +fourth quarter.The pan-European STOXX 600 index lost 0.17% and +MSCI's gauge of stocks across the globe shed +0.85%. MSCI's index was on track for its biggest January +percentage gain since 2019 while the STOXX 600 was poised for +its largest January percentage gain since 2015.U.S. Treasury yields rose ahead of the central bank meetings +and economic data, with the 10-year yield up for a third +consecutive session. Benchmark 10-year notes were up +2.6 basis points to 3.544%, from 3.518% late on Friday.The greenback, which was poised for its fourth month of +declines as expectation have increased the Fed was nearing the +end of its rate-hiking cycle, was up for a third straight +session against a basket of major currencies.The dollar index rose 0.402%, with the euro +down 0.25% to $1.084.The Japanese yen weakened 0.51% versus the greenback to +130.51 per dollar, while Sterling was last trading at +$1.2338, down 0.48% on the day.Crude prices fell ahead of the expected hikes by central +banks and signals of strong Russian exports.U.S. crude fell 2.16% to $77.96 per barrel and Brent +was at $84.86, down 2.08% on the day.(Reporting by Chuck Mikolajczak +Editing by Bernadette Baum) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Tech, megacaps drag Wall St down at start of big market week.txt b/news/AMZN/2023.01.30/Tech, megacaps drag Wall St down at start of big market week.txt new file mode 100644 index 0000000000000000000000000000000000000000..f2a3e6f20e695e456f2281e6dc64e40d3cd018ff --- /dev/null +++ b/news/AMZN/2023.01.30/Tech, megacaps drag Wall St down at start of big market week.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Alphabet, Amazon slide ahead of earnings*Fed decision on interest rates on Wednesday*J&J falls after U.S. court rejects talc-lawsuit strategy(Adds close of U.S. market, analyst comment)NEW YORK, Jan 30 (Reuters) - Major U.S. stock indexes +sank on Monday, weighed down by declines in technology and other +megacap shares, as investors looked toward a major week of +events including central bank meetings and a slew of earnings +reports.The heavyweight tech sector was among the biggest +S&P 500 sector decliners on the day. Shares of Apple Inc +, Amazon.com Inc and Google parent Alphabet Inc +, which are due to post results later this week, all +slumped.More than 100 S&P 500 companies are expected to report +results this week, which also includes central bank meetings in +the United States and Europe and closely watched U.S. employment +data.“The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market,” said Keith Lerner, co-chief +investment officer at Truist Advisory Services.According to preliminary data, the S&P 500 lost 52.38 +points, or 1.29%, to end at 4,018.18 points, while the Nasdaq +Composite lost 227.89 points, or 1.96%, to 11,393.81. +The Dow Jones Industrial Average fell 254.47 points, or +0.75%, to 33,723.61.Despite Monday's declines, the S&P 500 was on track to post +its biggest January gain since 2019.The U.S. central bank is seen hiking the Fed funds rate by +25 basis points at the end of its two-day policy meeting on +Wednesday, following a 2022 in which the Fed aggressively +boosted rates to control soaring inflation.Fed Chair Jerome Powell's news conference will be +scrutinized for whether the rate-hiking cycle may be coming to a +close and for signs of how rates could stay elevated.“It’s probably one of the most important meetings since the +whole thing began," said Sameer Samana, senior global market +strategist at Wells Fargo Investment Institute. "Unless the Fed +extends that timeline meaningfully from what the market expects, +which is that the Fed will be done in the next meeting or two, +this may end up marking the pause, so to speak.”Meanwhile, the European Central Bank is expected to deliver +another large rate hike on Thursday.Investors are also focused on earnings reports, amid +concerns the economy may be facing a recession. With more than +140 companies having reported so far, S&P 500 earnings are +expected to have fallen 3% in the fourth quarter compared with +the prior-year period, according to Refinitiv IBES.In company news, shares of Johnson & Johnson fell +after the healthcare giant's strategy to use bankruptcy to +resolve the multibillion-dollar litigation over claims its talc +products cause cancer was rejected by a federal appeals court. +(Reporting by Lewis Krauskopf in New York, and Shreyashi Sanyal +and Johann M Cherian in Bengaluru +Editing by Anil D'Silva and Matthew Lewis) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Tech, megacaps drag Wall St lower at start of big market week.txt b/news/AMZN/2023.01.30/Tech, megacaps drag Wall St lower at start of big market week.txt new file mode 100644 index 0000000000000000000000000000000000000000..1be0175b600c34caf949c962f5e1b00979b2a70f --- /dev/null +++ b/news/AMZN/2023.01.30/Tech, megacaps drag Wall St lower at start of big market week.txt @@ -0,0 +1,40 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Alphabet, Amazon slide ahead of earnings*Fed decision on interest rates on Wednesday*J&J falls after U.S. court rejects talc-lawsuit strategy*Indexes down: Dow 0.37%, S&P 500 0.95%, Nasdaq 1.59%(Recasts with midafternoon trading)NEW YORK, Jan 30 (Reuters) - Major U.S. stock indexes +fell on Monday, dragged lower by declines in technology and +other megacap shares, as investors looked toward a major week of +events including central bank meetings and a slew of earnings +reports.The tech sector slumped 1.7%, with most sectors +trading lower. Shares of Apple Inc, Amazon.com Inc +and Google parent Alphabet Inc, which are all +due to post results later this week, dropped over 1%.More than 100 S&P 500 companies are expected to report +results this week, which also includes central bank meetings in +the United States and Europe and closely watched U.S. employment +data.“The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market,” said Keith Lerner, co-chief +investment officer at Truist Advisory Services.The Dow Jones Industrial Average fell 125.11 points, +or 0.37%, to 33,852.97, the S&P 500 lost 38.49 points, or +0.95%, to 4,032.07 and the Nasdaq Composite dropped +184.56 points, or 1.59%, to 11,437.15.U.S. Treasury yields rose, providing another pressure point +for tech shares that have otherwise rebounded to start the year +after a rough 2022.Despite Monday's declines, the S&P 500 was on track to post +its biggest January gain since 2019.The U.S. central bank is seen hiking the Fed funds rate by +25 basis points at the end of its two-day policy meeting on +Wednesday, following a 2022 in which the Fed aggressively hiked +rates to control soaring inflation.Fed Chair Jerome Powell's news conference will be +scrutinized for signs of how high rates may go and how long they +could stay elevated. Meanwhile, the European Central Bank is +expected to deliver another large rate hike on Thursday.Investors are also focused on earnings reports, amid +concerns the economy may be facing a recession. With more than +140 companies having reported so far, S&P 500 earnings are +expected to have fallen 3% in the fourth quarter compared with +the prior-year period, according to Refinitiv IBES.In company news, shares of Johnson & Johnson fell +over 3% after the healthcare giant's strategy to use bankruptcy +to resolve the multibillion-dollar litigation over claims its +talc products cause cancer was rejected by a federal appeals +court.Declining issues outnumbered advancing ones on the NYSE by a +1.81-to-1 ratio; on Nasdaq, a 1.73-to-1 ratio favored decliners.The S&P 500 posted five new 52-week highs and no new lows; +the Nasdaq Composite recorded 51 new highs and 14 new lows. +(Reporting by Lewis Krauskopf in New York, and Shreyashi Sanyal +and Johann M Cherian in Bengaluru +Editing by Anil D'Silva and Matthew Lewis) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Tech, megacaps drag Wall St to lower close as big market week kicks off.txt b/news/AMZN/2023.01.30/Tech, megacaps drag Wall St to lower close as big market week kicks off.txt new file mode 100644 index 0000000000000000000000000000000000000000..c0b4c908ea6ef1fc20ce1bec65322033961c1340 --- /dev/null +++ b/news/AMZN/2023.01.30/Tech, megacaps drag Wall St to lower close as big market week kicks off.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Alphabet, Amazon slide ahead of earnings*Fed decision on interest rates on Wednesday*J&J falls after U.S. court rejects talc-lawsuit strategy*Indexes down: Dow 0.77%, S&P 500 1.3%, Nasdaq 1.96%(Adds market details after close of trading)NEW YORK, Jan 30 (Reuters) - Major U.S. stock indexes +sank on Monday, weighed down by declines in technology and other +megacap shares, as investors looked toward a major week of +events including central bank meetings and a slew of earnings +reports.The heavyweight tech sector dropped 1.9% while +energy shed 2.3%, the biggest drop among the S&P 500 +sectors. Shares of Apple Inc, Amazon.com Inc +and Google parent Alphabet Inc, which are due to post +results later this week, all slumped.More than 100 S&P 500 companies are expected to report +results this week, which also includes central bank meetings in +the United States and Europe and closely watched U.S. employment +data.“The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market,” said Keith Lerner, co-chief +investment officer at Truist Advisory Services.The Dow Jones Industrial Average fell 260.99 points, +or 0.77%, to 33,717.09, the S&P 500 lost 52.79 points, or +1.30%, to 4,017.77 and the Nasdaq Composite dropped +227.90 points, or 1.96%, to 11,393.81.U.S. Treasury yields rose, providing another +pressure point for tech shares that have otherwise rebounded to +start the year after a rough 2022.Despite Monday's declines, the S&P 500 remained on track to +post its biggest January gain since 2019.The U.S. central bank is seen hiking the Fed funds rate by +25 basis points at the end of its two-day policy meeting on +Wednesday, following a 2022 in which the Fed aggressively +boosted rates to control soaring inflation.Fed Chair Jerome Powell's news conference will be +scrutinized for whether the rate-hiking cycle may be coming to a +close and for signs of how long rates could stay elevated.“It’s probably one of the most important meetings since the +whole thing began," said Sameer Samana, senior global market +strategist at Wells Fargo Investment Institute. "Unless the Fed +extends that timeline meaningfully from what the market expects, +which is that the Fed will be done in the next meeting or two, +this may end up marking the pause, so to speak.”Meanwhile, the European Central Bank is expected to deliver +another large rate hike on Thursday.Investors are also focused on earnings reports, amid +concerns the economy may be facing a recession. With more than +140 companies having reported so far, S&P 500 earnings are +expected to have fallen 3% in the fourth quarter compared with +the prior-year period, according to Refinitiv IBES.In company news, shares of Johnson & Johnson fell +3.7% after the healthcare giant's strategy to use bankruptcy to +resolve the multibillion-dollar litigation over claims its talc +products cause cancer was rejected by a federal appeals court.Declining issues outnumbered advancing ones on the NYSE by a +2.40-to-1 ratio; on Nasdaq, a 2.08-to-1 ratio favored decliners.The S&P 500 posted 5 new 52-week highs and no new lows; the +Nasdaq Composite recorded 67 new highs and 20 new lows.About 10.6 billion shares changed hands in U.S. exchanges, +compared with the 11.2 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, and Shreyashi Sanyal +and Johann M Cherian in Bengaluru +Editing by Anil D'Silva and Matthew Lewis) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/UK video streaming market shows signs of recovery in last quarter of 2022.txt b/news/AMZN/2023.01.30/UK video streaming market shows signs of recovery in last quarter of 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..d8f287f4d2f90060cd1189a5bc3d97ee1ab8290a --- /dev/null +++ b/news/AMZN/2023.01.30/UK video streaming market shows signs of recovery in last quarter of 2022.txt @@ -0,0 +1 @@ +Market researcher Kantar said that between October and December the number of UK homes that had at least one paid-for video streaming service rose by 55,000 to 16.24 million, representing 56% of households.The gains were driven mainly by Prime Video, AppleTV+ and Paramount+, rather than Netflix.Kantar said 5% of British households took out a new streaming subscription during the final quarter of the year.The recovery followed a period of 12 months when one million British households dropped out of the subscription video-on-demand market, as they prioritised spending on essentials, such as food and energy."Prime Video had a strong final quarter of the year, with an increasing number of households taking out Prime memberships and using the Prime delivery service in the run-up to the Christmas holidays," Dominic Sunnebo, global insight director, Kantar, Worldpanel Division, said.However, the recovery may be short lived, Kantar added.The proportion of consumers planning to cancel one or more video-on-demand services in the next quarter rose to 12% versus 10% in the third quarter of 2022, it said, indicating that short-term subscribers looking to cover the festive period could soon cut back.Getting an accurate gauge of the UK economy is currently proving tricky.Official UK retail sales data showed inflation-pinched consumers cut their shopping by the most in the key month of December in at least 25 years and consumer confidence levels are at historic lows.However, several major British retailers, including Tesco, Sainsbury's and Marks & Spencer, reported better-than-expected Christmas sales, while airlines have reported strong bookings into summer.Also, unemployment is close to its lowest in almost 50 years. (Reporting by James Davey; editing by Clelia Oziel) \ No newline at end of file diff --git a/news/AMZN/2023.01.30/Wall Street set to open lower ahead of Fed rate decision.txt b/news/AMZN/2023.01.30/Wall Street set to open lower ahead of Fed rate decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..3157f4f0cd064fef67e00d2984ec4b5e53c67d58 --- /dev/null +++ b/news/AMZN/2023.01.30/Wall Street set to open lower ahead of Fed rate decision.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Megacap growth stocks lead declines*Fed decision on interest rates on Wednesday*Futures down: Nasdaq 1.13%, S&P 0.80%, Dow 0.46%Jan 30 (Reuters) - Wall Street was set to open lower on +Monday, with the tech-focused Nasdaq futures dropping more than +1%, at the start of the busiest week of the earnings season and +ahead of key central bank meetings.The U.S. Federal Reserve is seen hiking the Fed funds rate +by 25 basis points (bps) at the end of its two-day policy +meeting on Wednesday, close on the heels of economic reports +showing signs of slowing demand and cooling inflation.This will likely be the smallest rate increase since the Fed +kicked off its tightening cycle 10 months ago with a 25 bps +hike, with financial markets pricing in a final rate hike in +March."The Fed's going to continue to err on the side of caution +with respect to inflation because of the fact that it still +remains well above the 2% target ... we're seeing signs that +inflation may be coming down, but it's still not low enough," +said Adam Sarhan, chief executive of 50 Park Investments in New +York.Money markets now see rates peaking at 4.9% in June, still +below the 5% level expected by Fed policymakers.After a slew of layoffs by large-cap tech and financial +firms through the month, investors will now watch out for the +Labor Department's January nonfarm payrolls data expected on +Friday.A total of 107 S&P 500 firms are expected to report +quarterly earnings this week including heavyweight growth +companies Apple Inc, Amazon.com Inc, Alphabet +Inc and Meta Platforms Inc, all down about 1% +each in premarket trading.Analysts expect S&P 500 earnings during the fourth-quarter +to decline 2.9%, compared with the 1.6% drop expected at the +beginning of the year, according to Refinitiv data as of Friday.Data reflecting cooling inflation and a slowing economy has +raised hopes among investors that the Fed might steer away from +its hawkish rhetoric, stoking interest in growth stocks this +month, with the S&P 500 Growth index recouping more than +half its monthly losses from December.Tighter monetary policies have stood in the way of business +expansion of growth firms, which have also been pressured for +much of last year by high Treasury yields.Wall Street is expected to end the month higher with the +tech-inclined Nasdaq and the benchmark S&P 500 +recovering December losses."The month of January was a big 'up-month' on Wall Street, +led mostly by many of the big stocks that got crushed last +year," Sarhan added, noting that the decline in growth stocks on +Monday could be due to some profit-taking.At 8:48 a.m. ET, Dow e-minis were down 157 points, +or 0.46%, S&P 500 e-minis were down 32.5 points, or +0.8%, and Nasdaq 100 e-minis were down 138 points, or +1.13%.Other major central banks including the European Central +Bank and the Bank of England are also seen raising interest +rates later in the week. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Amazon Sets a New Record for Most Renewable Energy Purchased by a Single Company.txt b/news/AMZN/2023.01.31/Amazon Sets a New Record for Most Renewable Energy Purchased by a Single Company.txt new file mode 100644 index 0000000000000000000000000000000000000000..204a4588c6833c8d389b8f57b137defa3e2c9bb7 --- /dev/null +++ b/news/AMZN/2023.01.31/Amazon Sets a New Record for Most Renewable Energy Purchased by a Single Company.txt @@ -0,0 +1,29 @@ + +Amazon (NASDAQ: AMZN) today announced that in 2022 it grew its renewable energy capacity by 8.3 gigawatts (GW) through 133 new projects in 11 countries. This brings Amazon’s total portfolio to more than 20 GW—that could generate the amount of energy to power 5.3 million U.S. homes—across 401 renewable energy projects in 22 countries. The company’s renewable energy purchases continue to add new wind and solar projects on the grids that power Amazon’s operations, including Amazon Web Services (AWS) data centers, Amazon fulfillment centers, and physical stores around the world. + +With these continued investments, Amazon set a new corporate record for the most renewable energy announced by a single company in one year. The company remains the largest corporate buyer of renewable energy—a position it’s held since 2020, according to Bloomberg New Energy Finance. Amazon’s continued investment in renewable energy helps to accelerate growth in new regions through innovative deal structures, technologies, and cloud solutions. + +These purchases also bring Amazon closer to powering its operations with 100% renewable energy by 2025—five years ahead of its original 2030 target. In 2022, the company announced new projects in Australia, Canada, Finland, France, Germany, Japan, Poland, Singapore, Spain, and the U.S., and broke ground in Brazil, India, and Indonesia. With 25 new renewable energy projects secured to close out the year, the company now has 401 projects globally, including 164 wind farms and solar farms, and 237 rooftop solar projects on Amazon facilities. Once operational, Amazon’s global renewable energy projects are expected to generate 56,881 gigawatt-hours (GWh) of clean energy each year. + +“As we continue to launch new renewable energy projects around the world, we’re pleased to be on track to power our operations with 100% renewable energy, five years ahead of our original target. With 133 projects in 11 countries announced in 2022, Amazon had another record year,” said Adam Selipsky, CEO of AWS. “These projects highlight the diversity of our renewable energy sources and showcase our ability to bring new technologies to new markets and further reduce the impacts of climate change.” + +In addition to the 108 clean energy projects the company announced in 2022, Amazon today is announcing 25 additional 2022 clean energy projects. These include: + +Rapidly scaling renewable energy is one of the most effective strategies to fight climate change. To ensure organizations’ renewable energy purchases have the greatest impact on emissions reductions, Amazon recently led the creation of the new Emissions First coalition. This coalition is leading advocacy efforts to modernize the world’s leading carbon-accounting standard, helping to reduce carbon from global electricity grids as quickly and cost-effectively as possible. + +"Amazon's clean energy portfolio doesn't just top the corporate charts—it is now among the leading utilities globally, as well,” said Kyle Harrison, head of sustainability research at Bloomberg New Energy Finance. “The fact that it announced a new annual record of clean energy in a year mired by a global energy crisis, supply chain bottlenecks and high interest rates speaks to its forward planning and expertise in navigating power markets and executing long-term contracts." + +“Amidst the market uncertainty of 2022, Amazon led clean energy buyers and doubled down on its commitment to renewable energy,” said Miranda Ballentine, CEO of Clean Energy Buyers Association (CEBA). “Amazon’s commitment to decarbonization is demonstrated through its leading placement on CEBA’s Deal Tracker Top 10, within our member community, and on a global scale.” + +“As Asia continues to transition away from coal and gas, these investments by Amazon in wind and solar are further evidence that there is a large and growing corporate renewable electricity demand in this region. We look forward to continuing to work with Amazon and our other ACEC members to rapidly increase the supply of renewables and to achieve our shared 100% renewable ambitions in the region,” said Sam Kimmins, director of energy at Climate Group and Asia Clean Energy Coalition (ACEC) spokesperson. + +Amazon co-founded The Climate Pledge in 2019, committing to reach net-zero carbon by 2040—10 years ahead of the Paris Agreement. The Pledge now has nearly 400 signatories, including Best Buy, IBM, Microsoft, PepsiCo, Siemens, Unilever, Verizon, and Visa. Amazon continues to transform its transportation network, including electrifying its delivery fleet and sourcing alternatives to fossil fuels—it currently has thousands of electric delivery vehicles from Rivian in more than 100 cities and regions in the U.S., more than 3,000 electric vans delivering packages to customers in Europe, and several electric vehicle partnerships in APAC. The company is also investing $2 billion in the development of decarbonizing services and solutions through The Climate Pledge Fund. For more information, visit https://sustainability.aboutamazon.com/. + +About Amazon + +Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews. + +About Amazon Web Services + +Since 2006, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 99 Availability Zones within 31 geographic regions, with announced plans for 12 more Availability Zones and four more AWS Regions in Canada, Israel, New Zealand, and Thailand. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230131005303/en/ \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Amazon Web Services - Zurich Selects AWS to Accelerate Digital Transformation and Deliv...txt b/news/AMZN/2023.01.31/Amazon Web Services - Zurich Selects AWS to Accelerate Digital Transformation and Deliv...txt new file mode 100644 index 0000000000000000000000000000000000000000..798fd37007af5dece8f07708913029c6a6e57993 --- /dev/null +++ b/news/AMZN/2023.01.31/Amazon Web Services - Zurich Selects AWS to Accelerate Digital Transformation and Deliv...txt @@ -0,0 +1 @@ +SEATTLE- Amazon Web Services (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today announced that Zurich Insurance Group (Zurich), a leading multi-line insurer providing property, casualty, and life insurance solutions globally, is moving its enterprise information technology (IT) infrastructure to AWS. Zurich will use AWS's reliable global infrastructure, advanced analytics, and machine learning technologies to deliver new digital customer experiences and drive automation at scale, in support of its worldwide digital strategy. As part of the multiyear strategic collaboration, Zurich will move 1,000 applications to AWS by 2025, including core insurance and SAP workloads.Zurich will move its critical applications to AWS, simplifying, modernizing, and automating the company's infrastructure. This approach will provide flexible and scalable application environments, enabling agile product development. Using Amazon Relational Database Service (Amazon RDS), Amazon Aurora (AWS's fully managed MySQL and PostgreSQL-compatible relational database built for the cloud), and AWS App Runner (AWS's service to quickly deploy containerized web applications and APIs), Zurich will develop and bring new products to market quicker, saving approximately $30 million a year. As a result, Zurich can focus on innovation and new customer experiences, reinvesting valuable resources into new business opportunities, recruitment, and acquisition strategies. By embracing cloud technologies, Zurich will also be able to streamline and optimize its core business processes and better prepare for new reporting requirements in 2023, including alignment with international financial reporting standards-IFRS 9 and IFRS 17.Zurich will use RISE with SAP on AWS, a fully managed offering that combines SAP's solution and implementation experience with AWS' experience in helping customers transform their SAP landscapes on the cloud. By migrating its SAP environment to AWS, Zurich will create a modern, cloud-based system connecting data across its entire business. The SAP workloads migration will consist of 20 landscapes, a collection of servers for a specific workload, including more than 100 individual systems such as human resources (HR) and finance. AWS's extensive SAP experience will allow Zurich to increase the performance of its SAP applications and integrate its data with advanced analytics and machine learning services to gain predictive capabilities and enterprise-wide reporting.Zurich works with AWS Skills Guild, a comprehensive skills enablement program that helps organizations accelerate cloud outcomes by creating excitement, increasing employee engagement, and nurturing a culture of learning. The insurance provider has already trained more than 400 employees, with plans to further grow the program. Zurich offers skills development opportunities to help attract and train new employee talent, and accelerate cloud adoption across the company.'We want to help our retail customers lead safer and healthier lives, and bring our business customers peace of mind, by using the power of digital technologies to meet their evolving needs,' said Zurich's Ericson Chan, Group Chief Information and Digital Officer. 'Working with AWS will transform the way we bring solutions to market and enable us to make the most accurate and up-to-date insights available to our customers. We look forward to using the new AWS Region in Switzerland to support our regulatory reporting requirements.''Zurich's focus on customers and innovation over the last 150 years is why it remains a leading insurer for more than 55 million people and businesses around the world. Moving their most critical business applications to AWS allows Zurich to put data at the heart of its business to automate processes, increase efficiency, and improve customer responsiveness,' said Matt Garman, senior vice president of Sales, Marketing, and Global Services at Amazon Web Services. 'Combining Zurich's financial expertise with AWS's broad functionality will help the insurer continue to evolve its business to anticipate customer needs, and provide more personalized insurance products.'About Amazon Web ServicesSince 2006, Amazon Web Services has been the world's most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 99 Availability Zones within 31 geographic regions, with announced plans for 12 more Availability Zones and four more AWS Regions in Canada, Israel, New Zealand, and Thailand. Millions of customers-including the fastest-growing startups, largest enterprises, and leading government agencies-trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.About AmazonAmazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth's Most Customer-Centric Company, Earth's Best Employer, and Earth's Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.Amazon.com, Inc.Media HotlineAmazon-pr@amazon.comwww.amazon.com/prSource: Amazon.com, Inc.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Amazon illegally threatened NYC workers ahead of union votes, judge finds.txt b/news/AMZN/2023.01.31/Amazon illegally threatened NYC workers ahead of union votes, judge finds.txt new file mode 100644 index 0000000000000000000000000000000000000000..13671ca88e69ff6f588ea060b31b6589897cf1bd --- /dev/null +++ b/news/AMZN/2023.01.31/Amazon illegally threatened NYC workers ahead of union votes, judge finds.txt @@ -0,0 +1 @@ +In a decision issued on Monday, Administrative Law Judge Benjamin Green said Amazon supervisors told workers that they would miss out on regularly scheduled raises and improved benefits if the company was forced into lengthy union negotiations.U.S. labor law prohibits employers from making threats or promises in order to discourage unionizing. Workers at Amazon's JFK8 fulfillment center in Staten Island voted to join the Amazon Labor Union (ALU) last April, a first for the company in the United States. In May, employees at a smaller nearby storage facility rejected a union campaign. Green said Amazon also violated federal labor law in 2021 by removing a post from an internal message board asking workers to sign a union-backed petition to make Juneteenth a paid holiday.Amazon did not immediately respond to a request for comment. Nor did the ALU. The board's general counsel, which acts as a prosecutor, is trying to use the case to convince the five-member board to ban mandatory anti-union meetings. So-called "captive audience" meetings have for decades been a common tool used by employers to discourage unionizing.Green did not rule on that issue because administrative judges cannot make new legal precedent. But the board will likely take up the issue if Amazon appeals. Amazon has faced dozens of complaints from workers and the ALU as the union attempts to organize warehouses across the country. The company has generally denied wrongdoing.Earlier this month, an NLRB official rejected Amazon's bid to overturn the results of the JFK8 election. The company said it intends to appeal that ruling to the board. (Reporting by Daniel Wiessner in Albany, New York; Editing by Mark Potter)By Daniel Wiessner \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Asian stocks edge down as investors eye central bank hikes.txt b/news/AMZN/2023.01.31/Asian stocks edge down as investors eye central bank hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..f50d0cc35067940de02ab4703c8234cc0a19b03a --- /dev/null +++ b/news/AMZN/2023.01.31/Asian stocks edge down as investors eye central bank hikes.txt @@ -0,0 +1,57 @@ +Jan 31 (Reuters) - Asian shares edged down and bonds +nursed small losses on Tuesday as investors braced for an +eventful week that will include central bank meetings, a slew of +earnings reports and key U.S. economic data.Investors broadly expect the U.S. Federal Reserve to raise +interest rates by 25 basis points (bps) on Wednesday. Interest +rate announcements are due on Thursday from both the Bank of +England and the European Central Bank - and both are expected to +hike rates by 50 bps.Meanwhile, more than 100 S&P 500 companies, including Apple +, Amazon.com and Google parent Alphabet +, are expected to report results this week, which also +will see the publication of closely watched U.S. employment +numbers."It's a big week for both central banks and U.S. equities, +with ... some of the household names due to make earnings +announcements that will provide a micro overview of the macro +economy," ANZ analysts said in a note."We expect a 25 bps (U.S.) rate rise and anticipate that the +Fed will caution against an early pause in the tightening cycle +.... Risk appetite could be vulnerable to a correction."European markets were set for a lower open, with pan-region +Euro Stoxx 50 futures down 0.48%, German DAX futures +falling 0.47% and FTSE futures dropping 0.29%. +U.S. stock futures, the S&P 500 e-minis, were down 0.06%.In Asia, MSCI's broadest index of Asia-Pacific shares +outside Japan was 1.1% lower. The index is up +9.9% so far this month and is on course for its best January +performance since 2012.Japan's Nikkei stock index slid 0.23% while +Australian shares were down 0.15%.China's economic activity swung back to growth in +January, after a wave of COVID-19 infections passed through the +country faster than expected following abandonment of pandemic +controls. The official purchasing managers' index, which +measures manufacturing activity, rose to 50.1 from 47.0 in +December.Investors remained cautious, however, looking for more +signs of recovery in the pandemic-hit economy. China's blue-chip +CSI300 index was down 1% in afternoon trade after +reaching a half-year high on Monday.While Hong Kong's Hang Seng index dropped 1.23% +on Tuesday, it was still set to post its best January +performance since 1989.On Monday, U.S. stocks lost ground, with the major indexes +sinking, weighed down by declines in technology and other giant +corporations' shares.The Dow Jones Industrial Average fell 0.8% to +33,717.09, the S&P 500 lost 1.3% to 4,017.77 and the +Nasdaq Composite dropped 2.0% to 11,393.81.Despite Monday's declines, the S&P 500 remained on track to +post its biggest January gain since 2019.At the end of the Fed's two-day policy meeting on Wednesday, +investors will be glued to Chair Jerome Powell's news conference +for clues on whether the rate-hiking cycle may be coming to a +close, and for signs of how long rates could stay elevated.Markets will also grapple with a flood of U.S. economic +data, culminating in Friday's payrolls report for January. +Investors see signs of weakening in the labour market as a key +factor in bringing down high inflation.U.S. Treasury yields remained firm ahead of the central bank +meetings and economic data, with the yield on benchmark 10-year +Treasury notes US10YT=RR standing at 3.5457% compared with its +U.S. close of 3.551% on Monday.The two-year yield, which rises with traders' +expectations of higher Fed fund rates, touched 4.2424% compared +with a U.S. close of 4.261%.In currencies, the U.S. dollar, which was poised for its +fourth month of declines, was slightly up at 102.29 against a +basket of other major currencies.The European single currency was largely unchanged on +the day at $1.0841, having gained 1.3% in a month.In the energy market, oil prices fell ahead of the expected +hikes by central banks and signals of strong Russian exports.U.S. crude dipped 0.44% to $77.56 a barrel. Brent +crude fell to $84.85 per barrel.Gold was slightly lower. Spot gold was traded at +$1920.84 per ounce.(Additional reporting by Ankur Banerjee; Editing by Kenneth +Maxwell and B) \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Built Technologies Names James Chen as Chief Technology Officer.txt b/news/AMZN/2023.01.31/Built Technologies Names James Chen as Chief Technology Officer.txt new file mode 100644 index 0000000000000000000000000000000000000000..909640bef5552221134a87c9cbe92d53a85b98c4 --- /dev/null +++ b/news/AMZN/2023.01.31/Built Technologies Names James Chen as Chief Technology Officer.txt @@ -0,0 +1 @@ +NASHVILLE, Tenn. - Built Technologies, one of the fastest growing construction and real estate software providers in the U.S., announced the hiring of technology and e-commerce veteran James Chen as Chief Technology Officer. Under Chen's leadership, Built will continue to accelerate its development of innovative solutions for construction and real estate stakeholders as they build and manage the world around us.Chen arrives at Built with a distinguished career in technology leadership across domains including marketplace, logistics, and B2B technology. He has held multiple senior management positions building and scaling platform development, including at major e-commerce and marketplace companies Amazon and Rakuten. Most recently, Chen worked as CTO at Flexport, where his team steered B2B global logistics, empowering buyers, sellers and their logistics partners with technology and services to make global trading easier for everyone.While at Amazon, Chen served in separate stints as Director of Technology for both Amazon Shipping (Small Parcel & Freight) and Amazon Global Logistics, leading innovation and development of large scale global logistics and transportation systems. Previously, Chen was a senior executive officer at Rakuten for over six years, where he was widely acknowledged for his pioneering work in developing the company's global e-commerce platform. With his extensive experience in executive leadership and management of ground-up startups (CampusCraze, Freecause) to globally distributed multinational corporations and teams (Rakuten, Amazon), Chen is excited to join Built's mission and accelerate the scaling of the Built technology team.'James is a widely respected technology leader with an impressive track record of driving operational excellence at global marketplace and logistics companies,' said Built CEO Chase Gilbert. 'His breadth of experience as a B2B product visionary and technical strategist will translate into delivering exponential value for Built customers, who rely on our construction and real estate solutions for better financial management. James' history of innovating through a people-first approach makes him a perfect fit for the culture that we have developed.''I am thrilled to be joining Built at this exciting time in the company's evolution and growth story,' said Chen. 'It's been remarkable to watch Built grow over the years as the company develops innovative product offerings and technological capabilities that are powering smarter construction and real estate finance. Simultaneously, the company is attracting top talent from major companies in the space. I could not be more excited to get started with the Built team and our customers.'James earned a Bachelor of Science in Computer Science and Electrical Engineering from MIT. He has also worked to establish the San Francisco Agile Development Center, an organization pursuing technology innovation and global development coordination.Chen joins Built following the company's recent additions of digital payments expert Bora Chung and engineering veteran Matt Marenghi to its Board of Advisors.About Built TechnologiesBuilt is the leading provider of construction and real estate finance technology. By providing a centralized platform for all stakeholders, Built enables increased efficiency, collaboration, transparency, and business agility-with decreased risk-allowing customers to improve the way that the communities around them are built and managed. The Built platform is used by more than 250 leading North American lenders and asset managers, and thousands of developers, home builders and contractors. To learn more, visit www.getbuilt.com.Contact:Robin BectelREQ for Built TechnologiesE: rbectel@req.coT: 202-936-6335Kristi BrownBuilt TechnologiesE: kristi.brown@getbuilt.comT: 702-303-3019(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMZN/2023.01.31/EU studying whether Big Tech should pay network costs -EU document.txt b/news/AMZN/2023.01.31/EU studying whether Big Tech should pay network costs -EU document.txt new file mode 100644 index 0000000000000000000000000000000000000000..6131a64c7a1f8462303ea172fbe3a01e9bbb5e72 --- /dev/null +++ b/news/AMZN/2023.01.31/EU studying whether Big Tech should pay network costs -EU document.txt @@ -0,0 +1 @@ +EU telecoms providers including Deutsche Telekom, Orange, Telefonica and Telecom Italia say the six largest content providers account for more than half of data internet traffic and should contribute their fair share. The providers also point to Netflix Inc, Apple Inc and Microsoft Corp.The tech giants say the idea is equivalent to an internet traffic tax that could interfere with Europe's net neutrality rules treating all users equally.The commission's query is part of a 19-page document the EU executive drafted before it proposes legislation.The EU executive is expected to publish the document next week to garner feedback from telecoms operators and Big Tech, although the timing may change. The next step is an agreement with EU countries and lawmakers to finalise the legislation."Some stakeholders have suggested a mandatory mechanism of direct payments from CAPs (content application providers)/LTGs (large traffic generator) to contribute to finance network deployment. Do you support such suggestion and if so why? If no, why not?" the questionnaire asked.The questionnaire also asks who the mechanism should apply t; whether it would negatively impact innovation, the internet ecosystem and consumers; and whether the EU should create a continental or digital levy or fund.The EU will also query Big Tech and telecoms providers' investment spending and future developments, confirming a Reuters story this month."The Commission's questionnaire is basically asking questions that seek to justify the 'fair share' narrative pushed by big telcos. What is more, it seems to ignore the impact on consumers and fundamental net neutrality protections," an industry source said."The Commission is also asking for detailed business information, such as peering contracts, that is usually confidential. This effectively excludes key stakeholders from taking part. (Reporting by Foo Yun Chee; Editing by Josie Kao)By Foo Yun Chee \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt b/news/AMZN/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d3f81417321caae04ff9d49cdf90aeb52759543 --- /dev/null +++ b/news/AMZN/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt @@ -0,0 +1 @@ +There's an uncomfortable feeling in markets this week that good news may be bad news once again - mainly because of what the former means for this week's big central banking set pieces.As U.S. Federal Reserve's Federal Open Market Committee kicks off its two-day policymaking meeting, the economic news from around the world brightened considerably. Possibly wary of a premature easing of financial conditions before its tightening campaign is finished, some investors suspect the Fed may want to hang tough for a bit longer - stressing more needs to be done to ensure inflation is licked even as it slows the pace of rate hikes another notch to a quarter point rise on Wednesday.Another one-two of half point rate rises from the European Central Bank and Bank of England the following day adds to the trepidation, not least with Spain reminding everyone on Monday that inflation rates can re-accelerate again even after peaking.And if global recession is avoided, the hawkishness may persist. That's why China's new year bounce back from COVID-lockdowns and the euro zone dodging a downturn due to falling energy prices in a warm winter matter so much. They account for the world's second and third biggest economic areas.China's economic activity swung back to growth in January after three months of contraction, according to official business surveys released on Tuesday.The euro zone economy confounded forecasts for a quarterly contraction of gross domestic product in the final three months of 2022. Eurostat estimated GDP in the bloc rose 0.1% in Q4 despite consensus expectations for a fall of 0.1%.And if the significant energy price relief of the past two months means activity picked up further early this year, the long-standing assumptions for a winter euro zone recession will evaporate.Underlining the point, the International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly due to "surprisingly resilient" demand in the United States and Europe, easing energy costs and China's reopening.Dogged by Brexit, tax rises and serial labour strikes, Britain was the clear outlier and is the only G7 nation to have suffered a cut to its 2023 IMF, with the economy set to shrink by 0.6% this year - a sharp downgrade from the prior IMF forecast.The constellation leaves markets on the back foot as they await the big monetary policy decisions.Deep in the weeds of the latest corporate earnings season - with more than a fifth of S&P500 firms reporting this week alone and Apple, Amazon and Alphabet all due on Thursday - Wall St stock futures remain in the red after a dour start to the week on Monday. European and Asia bourses were lower too. The dollar has picked up across the board, with two-year U.S. Treasury yields giving back only some of their gains to near three-week highs on Monday.Despite the upbeat macro news, China tech stocks dropped 1.7% on media reports that the Biden administration has stopped approving licenses for U.S. companies to export most items to China's Huawei, signalling new tension in the Sino-U.S. tech war.UniCredit jumped 8.1% to the top of STOXX 600 after the giant Italian lender pledged to return 5.25 billion euros ($5.69 billion) to investors based on its 2022 results after posting its best profit in more than a decade.UBS shares fell 3% after the Swiss banking giant predicted an "uncertain" year ahead plagued by accelerating inflation and higher interest rates - even as it beat estimates, upped its dividend and proposed another $5 billion stock buyback this year.Indian billionaire Gautam Adani's $2.5 billion share sale inched closer to full subscription on Tuesday as investors pumped in funds after a tumultuous week for his group in which its stocks were pummelled by a scathing short-seller reportKey developments that may provide direction to U.S. markets later on Tuesday: * U.S. Federal Reserve's Federal Open Market Committee starts two-day meeting * U.S. Q4 employment costs, Jan consumer confidence, Chicago PMI business survey, Dallas Fed services index, Nov house prices* U.S. corp earnings: Exxon Mobil, Marathon, Pfizer, McDonald's, UPS, Amgen, Caterpillar, AMD, Stryker, Mondelez, Moody's, GM, MSCI, Electronic Arts, Spotify, Snap, Chubb, Western Digital, Juniper Networks, Boston Properties, Edwards Lifesciences, Match, Sysco, Corning, Pentair, Intl Paper, AO Smith, Dover (By Mike Dolan, editing by Ed Osmond, mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Marketmind: Fed games.txt b/news/AMZN/2023.01.31/Marketmind: Fed games.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9ab280cacb8700cca0f2912e0ed0460d2995cef --- /dev/null +++ b/news/AMZN/2023.01.31/Marketmind: Fed games.txt @@ -0,0 +1 @@ +Asian stocks are primed for a green Wednesday on the heels of a broad rally on Wall Street, as a slew of economic data suggested the Federal Reserve's restrictive monetary policy is working as directed.All three major U.S. stock indexes ended bright green and notched welcome gains for the month.The tech-heavy Nasdaq posted its biggest January percentage advance in 22 years.Risk appetite was largely fueled by economic data, specifically the Employment Cost Index (ECI) which decelerated in the fourth quarter to its slowest growth in a year - yet another sign that decades-high inflation is beginning to cool.This is welcome news for the Fed, which is expected to punctuate its two-day monetary policy meeting on Wednesday with a 25 basis point hike to the Fed funds target rate, its latest salvo in its battle against inflation.Upbeat quarterly results from a handful of major industrial firms, including Exxon Mobil Corp, United Parcel Service Inc and General Motors Co added muscle to the rally.On Wednesday, market participants will digest factory and labor market data and parse the Fed's statement and Chairman Jerome Powell's remarks at the subsequent press conference. Social media bellwether Meta Platforms Inc posts results after Wednesday's bell as a prologue to Apple Inc, Amazon.com and Alphabet Inc, all slated for Thursday after the bell.Crude prices advanced after EIA data showed solid U.S. energy demand.Factory data from China showed the manufacturing sector entered expansion territory after Beijing relaxed its COVID-19 restrictions, further hinting at a global demand rebound.(The race to raise rates https://www.reuters.com/graphics/CANADA-CENBANK/zjvqjebewpx/chart_eikon.jpg)Here are some key developments that could provide more direction to markets on Tuesday:- Japan posts manufacturing PMI (Jan)- South Korea releases preliminary import/export data (Jan)- S&P Global unveils Caixin manufacturing PMI for China (Jan)- The U.S. economic reports include ISM PMI (Jan), JOLTS (Dec), ADP payrolls (Jan) and construction spending (Dec) - The U.S. Federal Reserve issues its Fed funds target rate decision at 1400 GMT (Reporting by Stephen Culp; Editing by Josie Kao)By Stephen Culp \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Russian court fines Amazon's Twitch $57,000 over Ukraine content.txt b/news/AMZN/2023.01.31/Russian court fines Amazon's Twitch $57,000 over Ukraine content.txt new file mode 100644 index 0000000000000000000000000000000000000000..72703153dd4ce58a4edd4daf73cd44c2d6ed15f4 --- /dev/null +++ b/news/AMZN/2023.01.31/Russian court fines Amazon's Twitch $57,000 over Ukraine content.txt @@ -0,0 +1 @@ +Twitch, which is owned by Amazon, did not immediately respond to a request for comment.Moscow has long objected to foreign tech platforms' distribution of content that falls foul of its restrictions, with Russian courts regularly imposing penalties.($1 = 70.3200 roubles) (Reporting by Reuters, Editing by Louise Heavens) \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Stocks gain, yields dip after U.S. data; Fed eyed.txt b/news/AMZN/2023.01.31/Stocks gain, yields dip after U.S. data; Fed eyed.txt new file mode 100644 index 0000000000000000000000000000000000000000..490895b8e6964d0202b2bc59f9424d3d13c1da44 --- /dev/null +++ b/news/AMZN/2023.01.31/Stocks gain, yields dip after U.S. data; Fed eyed.txt @@ -0,0 +1,49 @@ +*U.S. Federal Reserve policy decision awaited*ECB, BoE policy announcements due Thursday*MSCI index set for biggest January pct gain since 2019*U.S. labor costs growth slows in Q4NEW YORK, Jan 31 (Reuters) -A gauge of global stocks advanced on Tuesday as it closed +out a strong month while U.S. Treasury yields fell as investors +assessed economic data and earnings reports ahead of a run of +central bank policy announcements.On Wall Street, U.S. stocks rallied and closed higher, +reversing declines in equity futures after data showed labor +cost growth in the fourth quarter was the smallest in a year, at +1.0%, even in a tight labor market. Other data showed consumer +confidence eased in January, as inflation expectations for the +next 12 months climbed to 6.8% from 6.6% last month.The Federal Reserve is widely expected to raise interest +rates by 25 basis points (bps) at the conclusion of its two-day +policy meeting on Wednesday. Investors will closely monitor +comments from Fed Chair Jerome Powell following the announcement +for clues on the path of monetary policy."Especially ahead of a Fed press conference, something like +this equity market rally is kind of explicitly against what they +want, and they have been pretty clear the market rallying on +what they expect the Fed to do is counter-productive," said Ross +Mayfield, investment strategist at Baird in Louisville, +Kentucky."We do feel like we’ve gotten a bit ahead of ourselves here +even if we are closer to the end of the Fed hiking cycle than +the beginning."The Dow Jones Industrial Averagerose 368.95 points, or 1.09%,to34,086.04, the S&P 500gained 58.83 points, or 1.46%,to4,076.6, and the Nasdaq Compositeadded 190.74 points, or 1.67%,to11,584.55.The S&P 500 closed up 6.2% for the month, its first +January gain since 2019, while the Nasdaq surged 10.7% for its +biggest percentage gain for the month of January since 2001.Interest rate announcements from the Bank of England and the +European Central Bank are scheduled for Thursday, with both seen +as likely to hike rates by 50 basis points.Markets will also grapple with a host of U.S. economic data +this week, culminating in Friday's payrolls report for January. +Investors see signs of weakening in the labor market as a key +factor in bringing down high inflation. Other data this week +include gauges of the manufacturing and services sectors.In addition, more than 100 S&P 500 companies, including +market heavyweights Apple Inc, Amazon.com Inc +and Google parent Alphabet, are scheduled to report +results this week.Despite the strong equity rally, Caterpillar and +McDonald's both lost ground on Tuesday following their +quarterly results. However, Exxon Mobil rose after posting a $56 +billion net profit for 2022.European shares retreated ahead of the central bank meetings +to end the month on a down note, but still notched their biggest +January percentage gain since 2015. Economic data for the euro +zone showed slight growth for the fourth quarter, but further +weakness is expected this year.The pan-European STOXX 600 index lost 0.26%, and +MSCI's gauge of stocks across the globe gained +0.72%. MSCI's index was on pace for its biggest January +percentage gain since 2019.Benchmark U.S. 10-year notes were down 3.5 basis +points to 3.516% in the wake of the data, after hitting a +two-week high of 3.574% on Monday.In currencies, the U.S. dollar index, poised for a +fourth month of declines, fell 0.176%, with the euro up +0.22% to $1.0868.Oil prices recovered from earlier lows, as U.S. crude +settled up 1.2% at $78.87 per barrel and Brent settled +at $84.49, down 0.48% on the day.(Reporting by Chuck Mikolajczak; additional reporting by Lisa +Pauline Mattackal; editing by Diane Craft, Leslie Adler and +Deepa Babington) \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Stocks up, yields dip after U.S. data; Fed on deck.txt b/news/AMZN/2023.01.31/Stocks up, yields dip after U.S. data; Fed on deck.txt new file mode 100644 index 0000000000000000000000000000000000000000..24ce283c784fb5e642f751d99da6fe0e9f3a1c7f --- /dev/null +++ b/news/AMZN/2023.01.31/Stocks up, yields dip after U.S. data; Fed on deck.txt @@ -0,0 +1,45 @@ +*U.S. Federal Reserve policy decision awaited*ECB, BoE policy announcements due Thursday*MSCI index on pace for biggest January pct gain since 2019*U.S. labor costs growth slows in Q4NEW YORK, Jan 31 (Reuters) -A gauge of global stocks rose on Tuesday while U.S. Treasury +yields mostly fell as investors assessed economic data and +earnings reports ahead of a run of central bank policy +announcements.On Wall Street, U.S. stocks were higher, reversing declines +in equity futures after data showed labor cost growth in the +fourth quarter was the smallest in a year, at 1.0%, even in a +tight labor market. Other data showed consumer confidence eased +in January, as inflation expectations for the next 12 months +climbed to 6.8% from 6.6% last month.The Federal Reserve is widely expected to raise interest +rates by 25 basis points (bps) at the conclusion of its two-day +policy meeting on Wednesday. Investors will closely monitor +comments from Fed Chair Jerome Powell following the announcement +for clues on the path of monetary policy."The Fed tomorrow will have to strike a delicate balance in +signaling slowing in the pace of rate increases, while at the +same time emphasizing that they're not done yet with tightening +rates," Oscar Munoz, U.S. macro strategist at TD Securities, +told the Reuters Global Markets Forum."It has to acknowledge the recent improvement in the +inflation data, but also note that the job's not done yet +despite the recent good news."The Dow Jones Industrial Averagerose 228.15 points, or 0.68%,to33,945.24, the S&P 500gained 37.97 points, or 0.95%,to4,055.74, and the Nasdaq Compositeadded 137.22 points, or 1.2%,to11,531.04.The S&P 500, up about 5.2% for the month, is on track +for its first January gain since 2019.Interest rate announcements from the Bank of England and the +European Central Bank are scheduled for Thursday, with both seen +as likely to hike rates by 50 basis points.Markets will also grapple with a host of U.S. economic data +this week, culminating in Friday's payrolls report for January. +Investors see signs of weakening in the labor market as a key +factor in bringing down high inflation. Other data this week +include gauges of the manufacturing and services sectors.In addition, more than 100 S&P 500 companies, including +market heavyweights Apple Inc, Amazon.com Inc +and Google parent Alphabet, are scheduled to report +results this week.Caterpillar and McDonald's both lost ground +on Tuesday following their quarterly results. However, Exxon +Mobil rose after posting a $56 billion net profit for 2022.European shares retreated ahead of the central bank meetings +to end the month on a down note, but still notched their biggest +January percentage gain since 2015. Economic data for the euro +zone showed slight growth for the fourth quarter, but further +weakness is expected this year.The pan-European STOXX 600 index lost 0.26%, and +MSCI's gauge of stocks across the globe gained +0.39%. MSCI's index was on pace for its biggest January +percentage gain since 2019.Benchmark U.S. 10-year notes were down 2.9 basis +points to 3.522% in the wake of the data, after hitting a +two-week high of 3.574% on Monday.In currencies, the U.S. dollar index, on track for a +fourth month of declines, fell 0.196%, with the euro up +0.22% to $1.0868.Oil prices recovered from earlier lows, as U.S. crude +recently rose 0.81% to $78.53 per barrel and Brent was +at $84.47, down 0.51% on the day.(Reporting by Chuck Mikolajczak; additional reporting by Lisa +Pauline Mattackal; editing by Diane Craft and Leslie Adler) \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Wall St gains after encouraging inflation data with Fed next.txt b/news/AMZN/2023.01.31/Wall St gains after encouraging inflation data with Fed next.txt new file mode 100644 index 0000000000000000000000000000000000000000..c450f8e0aa612d7827a0ec8023bb4737f2c50056 --- /dev/null +++ b/news/AMZN/2023.01.31/Wall St gains after encouraging inflation data with Fed next.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. labor cost growth slows in fourth quarter*McDonald's, Caterpillar slip after earnings*Exxon, GM, UPS rise after their results*Fed decision on interest rates on Wednesday(Recasts with close of U.S. trading)NEW YORK, Jan 31 (Reuters) - Major U.S. stock indexes +closed higher on Tuesday as labor cost data encouraged investors +about the Federal Reserve's aggressive approach to taming +inflation a day ahead of the central bank's critical policy +decision.Investors also digested a full plate of earnings reports, +including share-price gains in Exxon Mobil Corp and +United Parcel Service Inc following their results, +countered by declines in Caterpillar Inc and McDonald's +Corp.U.S. labor costs increased at their slowest pace in a year +in the fourth quarter as wage growth slowed, Labor Department +data showed. The U.S. central bank on Wednesday is expected to +hike the Fed funds rate by 25 basis points, following a 2022 in +which the Fed aggressively boosted rates to control soaring +inflation.The labor cost data is "indicating that maybe what the Fed +has done is working and ... we’re rounding the corner on +interest rate hikes," said Peter Tuz, president of Chase +Investment Counsel in Charlottesville, Virginia.According to preliminary data, the S&P 500 +gained 59.39 points, or 1.48%, to end at 4,077.16 points, +while the Nasdaq Composite gained 190.99 points, or +1.68%, to 11,584.55. The Dow Jones Industrial Average +rose 371.04 points, or 1.10%, to 34,088.13.The S&P 500 posted its first increase for the month of +January since 2019, following a brutal 2022 in which the +benchmark index sank 19.4%.Aside from the Fed's rate decision on Wednesday, Chair +Jerome Powell's news conference will be scrutinized for whether +the rate-hiking cycle may be coming to a close and for signs of +how long rates could stay elevated."Jerome Powell and team are probably looking at this easing +of financial conditions that has happened over the last month, +and we will see if they try to push back against it to any +extent," said Mona Mahajan, senior investment strategist at +Edward Jones. "I don’t think they would want markets to move up +too far, too fast either."In earnings news, Exxon Mobil shares rose after the oil +major posted a $56 billion net profit for 2022, setting not only +a company record but a historic high for the Western oil +industry.United Parcel Service shares climbed after its quarterly +profit topped estimates, while General Motors Co shares +jumped after it forecast stronger-than-expected earnings for +2023.Caterpillar shares sank as the machinery maker's +fourth-quarter earnings slid by 29%. McDonald's shares dropped +after the burger chain warned inflation will weigh on margins in +2023.A busy week for markets will also include reports in coming +days from Apple Inc, Amazon.com Inc and +Alphabet Inc, central bank meetings in Europe and the +monthly U.S. employment report. +(Reporting by Lewis Krauskopf in New York, and Johann M Cherian +and Shreyashi Sanyal in Bengaluru +Editing by Maju Samuel and Matthew Lewis) \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Wall St gains over 1% after encouraging inflation data with Fed next.txt b/news/AMZN/2023.01.31/Wall St gains over 1% after encouraging inflation data with Fed next.txt new file mode 100644 index 0000000000000000000000000000000000000000..ccf20e79254c085379b7f18f65981c63a9c1dc9f --- /dev/null +++ b/news/AMZN/2023.01.31/Wall St gains over 1% after encouraging inflation data with Fed next.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nasdaq posts biggest January gain since 2001*U.S. labor cost growth slows in fourth quarter*Exxon, UPS rise after results, Caterpillar slumps*Fed decision on interest rates on Wednesday*Indexes up: Dow 1.09%, S&P 500 1.46%, Nasdaq 1.67%(Adds further market data)NEW YORK, Jan 31 (Reuters) - Major U.S. stock indexes +closed over 1% higher on Tuesday as labor cost data encouraged +investors about the Federal Reserve's aggressive approach to +taming inflation a day ahead of the central bank's critical +policy decision.Investors also digested a full plate of earnings reports. +Shares of Exxon Mobil Corp and United Parcel Service Inc +rose following their respective results, while +Caterpillar Inc and McDonald's Corp ended weaker +after their results.The S&P 500 tallied its first January increase since 2019, +gaining 6.2%, while the tech-heavy Nasdaq jumped 10.7% for the +month - its biggest January percentage rise since 2001.U.S. labor costs increased at their slowest pace in a year +in the fourth quarter as wage growth slowed, Labor Department +data showed. The U.S. central bank on Wednesday is expected to +hike the Fed funds rate by 25 basis points, following a 2022 in +which the Fed aggressively boosted rates to control soaring +inflation.The labor cost data is "indicating that maybe what the Fed +has done is working and ... we’re rounding the corner on +interest rate hikes," said Peter Tuz, president of Chase +Investment Counsel in Charlottesville, Virginia.The Dow Jones Industrial Average rose 368.95 points, +or 1.09%, to 34,086.04, the S&P 500 gained 58.83 points, +or 1.46%, to 4,076.6 and the Nasdaq Composite added +190.74 points, or 1.67%, to 11,584.55.All 11 S&P 500 sectors ended in positive territory, led by +materials and consumer discretionary, both +up over 2%.Aside from the Fed's rate decision on Wednesday, Chair +Jerome Powell's news conference will be scrutinized for whether +the rate-hiking cycle may be coming to a close and for signs of +how long rates could stay elevated."Jerome Powell and team are probably looking at this easing +of financial conditions that has happened over the last month, +and we will see if they try to push back against it to any +extent," said Mona Mahajan, senior investment strategist at +Edward Jones. "I don’t think they would want markets to move up +too far, too fast either."In earnings news, Exxon Mobil shares rose 2.2% after the oil +major posted a $56 billion net profit for 2022, setting not only +a company record but a historic high for the Western oil +industry.United Parcel Service shares climbed 4.7% after its +quarterly profit topped estimates, while General Motors Co +shares jumped 8.3% after it forecast +stronger-than-expected earnings for 2023.Caterpillar shares sank 3.5% as the machinery maker's +fourth-quarter earnings slid by 29%. McDonald's shares dropped +1.3% after the burger chain warned inflation will weigh on +margins in 2023.A busy week for markets will also include reports in coming +days from Apple Inc, Amazon.com Inc and +Alphabet Inc, central bank meetings in Europe and the +monthly U.S. employment report.Advancing issues outnumbered declining ones on the NYSE by a +4.91-to-1 ratio; on Nasdaq, a 3.12-to-1 ratio favored advancers.The S&P 500 posted 10 new 52-week highs and no new lows; the +Nasdaq Composite recorded 100 new highs and 25 new lows.About 12 billion shares changed hands in U.S. exchanges, +compared with the 11.4 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, and Johann M Cherian +and Shreyashi Sanyal in Bengaluru +Editing by Maju Samuel and Matthew Lewis) \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Wall Street rises after encouraging inflation data with Fed on deck.txt b/news/AMZN/2023.01.31/Wall Street rises after encouraging inflation data with Fed on deck.txt new file mode 100644 index 0000000000000000000000000000000000000000..9f256254218edc6f2d77dd49de581dbf2293daf9 --- /dev/null +++ b/news/AMZN/2023.01.31/Wall Street rises after encouraging inflation data with Fed on deck.txt @@ -0,0 +1,48 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. labor costs growth slows in fourth quarter*McDonald's, Caterpillar slip after earnings*Exxon, GM, UPS rise after their results*Fed decision on interest rates on Wednesday*Indexes up: Dow 0.48%, S&P 500 0.73%, Nasdaq 0.95%(Adds midafternoon trading)NEW YORK, Jan 31 (Reuters) - Major U.S. stock indexes +rose on Tuesday as labor cost data encouraged investors about +the Federal Reserve's aggressive approach to taming inflation a +day ahead of the central bank's critical policy decision.Investors also digested a full plate of earnings reports, +with share declines in Caterpillar and McDonald's +following their results capping gains on the Dow.U.S. labor costs increased at their slowest pace in a year +in the fourth quarter as wage growth slowed, Labor Department +data showed. The U.S. central bank on Wednesday is expected to +hike the Fed funds rate by 25 basis points, following a 2022 in +which the Fed aggressively boosted rates to control soaring +inflation."The fact that we have had goods inflation cooling, we have +had housing cool, and the last shoe to drop is probably this +labor services inflation – we may be getting early indications +of that," said Mona Mahajan, senior investment strategist at +Edward Jones.The Dow Jones Industrial Average rose 163.23 points, +or 0.48%, to 33,880.32, the S&P 500 gained 29.51 points, +or 0.73%, to 4,047.28 and the Nasdaq Composite added +107.90 points, or 0.95%, to 11,501.72.Gains were widespread, with 10 of the 11 S&P 500 sectors in +positive territory, led by materials and consumer +discretionary. Utilities were the lone +sector logging a decline.The S&P 500 was on track to post its first increase for the +month of January since 2019, following a brutal 2022 in which +the benchmark index sank 19.4%.Aside from the Fed's rate decision on Wednesday, Chair +Jerome Powell's news conference will be scrutinized for whether +the rate-hiking cycle may be coming to a close and for signs of +how long rates could stay elevated."Jerome Powell and team are probably looking at this easing +of financial conditions that has happened over the last month, +and we will see if they try to push back against it to any +extent," Mahajan said. "I don’t think they would want markets to +move up too far, too fast either."In earnings news, Exxon Mobil Corp shares rose 2% +after the oil major posted a $56 billion net profit for 2022, +setting not only a company record but a historic high for the +Western oil industry.United Parcel Service Inc shares climbed 4.4% after +its quarterly profit topped estimates, while General Motors Co +shares jumped 8% after it forecast stronger-than-expected +earnings for 2023.Caterpillar Inc shares slumped over 3% as the machinery +maker's fourth-quarter earnings slid by 29%. McDonald's shares +slumped 1.8% after the burger chain warned inflation will weigh +on margins in 2023.A busy week for markets will also include reports in coming +days from Apple Inc, Amazon.com Inc and +Alphabet Inc, central bank meetings in Europe and the +monthly U.S. employment report.Advancing issues outnumbered declining ones on the NYSE by a +4.28-to-1 ratio; on Nasdaq, a 3.11-to-1 ratio favored advancers.The S&P 500 posted 6 new 52-week highs and no new lows; the +Nasdaq Composite recorded 73 new highs and 19 new lows. +(Reporting by Lewis Krauskopf in New York, and Johann M Cherian +and Shreyashi Sanyal in Bengaluru +Editing by Maju Samuel and Matthew Lewis) \ No newline at end of file diff --git a/news/AMZN/2023.01.31/Zurich Selects AWS to Accelerate Digital Transformation and Deliver New Customer Experi...txt b/news/AMZN/2023.01.31/Zurich Selects AWS to Accelerate Digital Transformation and Deliver New Customer Experi...txt new file mode 100644 index 0000000000000000000000000000000000000000..2059a71569167c6ef2fa3670a2ece7961486119c --- /dev/null +++ b/news/AMZN/2023.01.31/Zurich Selects AWS to Accelerate Digital Transformation and Deliver New Customer Experi...txt @@ -0,0 +1,21 @@ + +Amazon Web Services (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today announced that Zurich Insurance Group (Zurich), a leading multi-line insurer providing property, casualty, and life insurance solutions globally, is moving its enterprise information technology (IT) infrastructure to AWS. Zurich will use AWS’s reliable global infrastructure, advanced analytics, and machine learning technologies to deliver new digital customer experiences and drive automation at scale, in support of its worldwide digital strategy. As part of the multiyear strategic collaboration, Zurich will move 1,000 applications to AWS by 2025, including core insurance and SAP workloads. + +Zurich will move its critical applications to AWS, simplifying, modernizing, and automating the company’s infrastructure. This approach will provide flexible and scalable application environments, enabling agile product development. Using Amazon Relational Database Service (Amazon RDS), Amazon Aurora (AWS’s fully managed MySQL and PostgreSQL-compatible relational database built for the cloud), and AWS App Runner (AWS’s service to quickly deploy containerized web applications and APIs), Zurich will develop and bring new products to market quicker, saving approximately $30 million a year. As a result, Zurich can focus on innovation and new customer experiences, reinvesting valuable resources into new business opportunities, recruitment, and acquisition strategies. By embracing cloud technologies, Zurich will also be able to streamline and optimize its core business processes and better prepare for new reporting requirements in 2023, including alignment with international financial reporting standards—IFRS 9 and IFRS 17. + +Zurich will use RISE with SAP on AWS, a fully managed offering that combines SAP’s solution and implementation experience with AWS' experience in helping customers transform their SAP landscapes on the cloud. By migrating its SAP environment to AWS, Zurich will create a modern, cloud-based system connecting data across its entire business. The SAP workloads migration will consist of 20 landscapes, a collection of servers for a specific workload, including more than 100 individual systems such as human resources (HR) and finance. AWS’s extensive SAP experience will allow Zurich to increase the performance of its SAP applications and integrate its data with advanced analytics and machine learning services to gain predictive capabilities and enterprise-wide reporting. + +Zurich works with AWS Skills Guild, a comprehensive skills enablement program that helps organizations accelerate cloud outcomes by creating excitement, increasing employee engagement, and nurturing a culture of learning. The insurance provider has already trained more than 400 employees, with plans to further grow the program. Zurich offers skills development opportunities to help attract and train new employee talent, and accelerate cloud adoption across the company. + +“We want to help our retail customers lead safer and healthier lives, and bring our business customers peace of mind, by using the power of digital technologies to meet their evolving needs,” said Zurich’s Ericson Chan, Group Chief Information and Digital Officer. “Working with AWS will transform the way we bring solutions to market and enable us to make the most accurate and up-to-date insights available to our customers. We look forward to using the new AWS Region in Switzerland to support our regulatory reporting requirements.” + +“Zurich’s focus on customers and innovation over the last 150 years is why it remains a leading insurer for more than 55 million people and businesses around the world. Moving their most critical business applications to AWS allows Zurich to put data at the heart of its business to automate processes, increase efficiency, and improve customer responsiveness,” said Matt Garman, senior vice president of Sales, Marketing, and Global Services at Amazon Web Services. “Combining Zurich’s financial expertise with AWS’s broad functionality will help the insurer continue to evolve its business to anticipate customer needs, and provide more personalized insurance products.” + +About Amazon Web Services + +Since 2006, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 99 Availability Zones within 31 geographic regions, with announced plans for 12 more Availability Zones and four more AWS Regions in Canada, Israel, New Zealand, and Thailand. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com. + +About Amazon + +Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230131005187/en/ \ No newline at end of file diff --git a/news/AMZN/2023.02.01/Amazon faces more warehouse safety violations over worker injuries.txt b/news/AMZN/2023.02.01/Amazon faces more warehouse safety violations over worker injuries.txt new file mode 100644 index 0000000000000000000000000000000000000000..1543808609fd64026d18e94f43f2d41597313fa6 --- /dev/null +++ b/news/AMZN/2023.02.01/Amazon faces more warehouse safety violations over worker injuries.txt @@ -0,0 +1 @@ +Amazon is facing fines for safety violations at three additional warehouses, two weeks after the online retail giant was penalized for unsafe work conditions at several other fulfillment centers, the Department of Labor announced Wednesday.The Occupational Safety and Health Administration issued the citations citing back injuries and long hours at Amazon warehouses in Aurora, Colo.; Nampa, Idaho; and Castleton, N.Y. OSHA also issued hazard alert letters for exposing those workers to ergonomic hazards following inspections last year.After reviewing on-site injury logs in August of 2022, OSHA discovered Amazon warehouse workers had experienced a high rate of musculoskeletal disorders before fining the three facilities $46,875 in penalties."Amazon's operating methods are creating hazardous work conditions and processes, leading to serious worker injuries," said Assistant Secretary for Occupational Safety and Health Doug Parker."They need to take these injuries seriously and implement a company-wide strategy to protect their employees from these well-known and preventable hazards," Parker said.The inspections follow similar violations at three other Amazon warehouse facilities in Florida, Illinois and New York, where workers were found to be at high risk for lower back injuries and other musculoskeletal disorders due to lifting packages and other items for long hours. Last month's penalties for those violations totaled $60,269.At all six warehouses, OSHA investigators found Amazon had exposed its workers to injury due to the high frequency that employees are required to lift packages, in addition to the heavy weight of those items. Investigators also said employees were forced to "awkwardly twist, bend and extend themselves to lift items" during long hours to complete their assigned tasks."Workers face immense pressure to meet pace of work and production quotas at the risk of sustaining musculoskeletal injuries, which are often acute," OSHA wrote in a letter to the warehouse in Idaho.OSHA also said staffing shortages may have led Amazon to underreport injuries, which is required by federal law."Evidence that injuries may not have been reported, because Amazon's on-site first-aid clinic, Wellness Center, is not staffed appropriately, which our investigation has revealed would otherwise be an important mechanism by which Amazon gathers injuries to report," the letter added.In December of 2022, OSHA cited Amazon for 14 record keeping violations as part of the same investigation. Amazon has 15 days to comply with the citations or contest the findings.Last month, Amazon spokesperson Kelly Nantel said the company denies the allegations and plans to appeal."We've cooperated fully, and the government's allegations don't reflect the reality of safety at our sites," Nantel said. "Over the last several months, we've demonstrated the extent to which we work everyday to mitigate risk and protect our people."Copyright 2023 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News \ No newline at end of file diff --git a/news/AMZN/2023.02.01/EU may miss gigabit target, more investments needed, telecoms group says.txt b/news/AMZN/2023.02.01/EU may miss gigabit target, more investments needed, telecoms group says.txt new file mode 100644 index 0000000000000000000000000000000000000000..777ebec9422b2c8bfb868164f0b4ef2ce54fa34e --- /dev/null +++ b/news/AMZN/2023.02.01/EU may miss gigabit target, more investments needed, telecoms group says.txt @@ -0,0 +1,31 @@ +BRUSSELS, Feb 1 (Reuters) - The European Union risks +missing its target to connect all European households to a +gigabit network by 2030, underscoring the need for more +investments, according to a study commissioned by telecoms +lobbying group ETNO.The study by Analysys Mason comes as the bloc considers the +possibility of getting Alphabet Inc's Google, Meta +, Amazon.com Inc, Netflix , Apple +and Microsoft to bear some of the network +costs.Deutsche Telekom, Orange, Telefonica +, Telecom Italia and their peers say this +should be seen as a fair share contribution from the six content +providers which account for more than half of data internet +traffic.Big Tech sees it as an internet traffic tax at odds with EU +net neutrality rules treating all users equally, saying that +they also invest in their own content delivery networks.Total telecom investment in Europe peaked at 56.3 billion +euros in 2021, the highest since 2016, but still lagged behind +other regions, the report said."Europe continues to trail its peers worldwide in terms of +telecoms investment. Investment per capita adjusted to GDP was +104 euros in Europe in 2021 compared with 260 euros in Japan, +150 euros in the United States and 110 euros in China," the +study said."More investment capacity is needed to accelerate +innovation, but the established current trends place additional +pressure on many operators to sell or separate service and +innovation-related assets," it said.The study also noted the large gap between the returns on +investment for telecoms operators and those for Big Tech."There is an acute discrepancy between the returns on +investment in European telecoms infrastructure and the returns +on investment of the largest services that run over this +infrastructure," it said."When it comes to internet access, it is telecoms operators +that shoulder the investment burden, while in terms of new value +creation it is tech companies that benefit the most." +(Reporting by Foo Yun Chee, Editing by Louise Heavens) \ No newline at end of file diff --git a/news/AMZN/2023.02.01/End of easy-cash era is going to hurt.txt b/news/AMZN/2023.02.01/End of easy-cash era is going to hurt.txt new file mode 100644 index 0000000000000000000000000000000000000000..79a617faba3578dc57c0f2a9f0450deec492b2e0 --- /dev/null +++ b/news/AMZN/2023.02.01/End of easy-cash era is going to hurt.txt @@ -0,0 +1 @@ +U.S. and UK central banks are unwinding stimulus further by offloading bonds they hold, and the European Central Bank will join them soon. Nomura estimates the balance sheets of the three banks will shrink by $3 trillion this year.Graphic: Bloated central bank balance sheets start to shrink https://www.reuters.com/graphics/GLOBAL-MARKETS/znpnbkeaypl/chart.pngTech stocks and crypto currencies look vulnerable. They are among risky assets that soared as cash pumped out by central banks fighting weak inflation in recent years searched for a home."When you have unprecedented monetary tightening, the likelihood is that you get issues that are uncovered - that might be something hidden such as liquidity or something more obvious like pressures in the housing market," said Zurich Insurance Group chief market strategist Guy Miller. We look at some potential pressure points.1/ DARLINGS NO MORE Once darlings of the easy-cash era, tech stocks are being shunned by many investors even after a January bounce as higher rates make it more expensive to take punts on the potential earnings growth of early stage or speculative businesses.When economic uncertainty is high, investors often look for reliable returns from dividends to safeguard portfolios. That makes the likes of tech stalwarts such as Apple, whose shares trade on a dividend yield of less than 1%, look vulnerable. "We're at a stage where very elevated valuations in markets have collided with much less supportive policy," said James Harries, senior fund manager at Troy Asset Management. "So, the outlook is darkening."Tech firms are reversing pandemic-era exuberance, cutting jobs after years of hiring sprees. Google owner Alphabet plans to axe about 12,000 workers; Microsoft, Amazon and Meta are firing almost 40,000. Graphic: Big tech's earnings growth put to the test https://www.reuters.com/graphics/GLOBAL-MARKETS/mypmogzgmpr/chart.png 2/ DEFAULT RISKSConcerns about corporate defaults are mounting as rates rise, although recession worries have eased.S&P Global said Europe had the second-highest default count last year since 2009. It expects U.S. and European default rates to reach 3.75% and 3.25%, respectively, in September 2023 versus 1.6% and 1.4% a year before, with pessimistic forecasts of 6.0% and 5.5% not "out of the question."Man GLG portfolio manager Michael Scott said markets have not fully priced in the risk of higher defaults. Graphic: Corporate default rate may double in 2023 https://www.reuters.com/graphics/GLOBAL-STRESS/dwpkdegzdvm/chart.png3/ GOING PRIVATEPrivate debt markets have ballooned since the financial crisis to $1.4 trillion from $250 billion in 2010.The largely floating-rate nature of the financing appeals to investors, who can reap returns in high single to low double digits, and became popular as plunging rates post-2008 boosted risk assets.Now, a reality check: higher rates imply a heavier burden for companies as recession looms, casting a shadow over their ability to generate sufficient cash to pay ballooning interest costs."What surprises me is that you're almost back to complacency," said Will Nicole, CIO of Private and Alternative Assets at M&G Investments. "We've gone from a position where three months ago everybody was talking about a credit cycle coming through for the first time in decades and now people appear to have forgotten that." Graphic: Direct lending stellar growth https://www.reuters.com/graphics/GLOBAL-CREDIT/PRIVATE/lbpgggwlnpq/chart.png4/CRYPTO WINTER Rising borrowing costs roiled crypto markets in 2022. The price of bitcoin plunged 64% and around $1.3 trillion was wiped off the global cryptocurrency market cap.Bitcoin has rallied recently but caution remains. The collapse of various dominant crypto companies, most notably FTX, left investors shouldering large losses and prompted calls for more regulation.January brought a fresh wave of job cuts as firms brace for the so-called crypto winter, while the lending unit of Genesis recently filed for U.S. bankruptcy protection, owing creditors at least $3.4 billion. Graphic: Pain in crypto land https://www.reuters.com/graphics/GLOBAL-MARKETS/lgpdknmayvo/chart.png5/FOR SALEReal estate markets, first responders to rate hikes, started cracking last year and 2023 will be tough with U.S. house prices expected to drop 12%.Fund managers surveyed by BofA see China's troubled real estate sector as the second most likely source of a credit event. European real estate is reporting distress levels not seen since 2012, according to data from law firm Weil, Gotshal & Manges.How the sector services its debt is in focus and officials warn European banks risk significant profit hits from sliding house prices.Real estate investment management firm AEW estimates the UK, France and Germany could face a 24 billion euro debt funding gap through 2025. Luckily, bank balance sheets are better positioned to absorb losses, so few expect a 2008 repeat. Graphic: Distress in Europe's real estate sector rises https://www.reuters.com/graphics/GLOBAL-STRESS/byprlryzbpe/chart.png($1 = 0.9192 euros) (Reporting by Chiara Elisei, Dhara Ranasinghe, Naomi Rovnick, Elizabeth Howcroft and Yoruk Bahceli; Graphics by Kripa Jayaram and Vincent Flasseur; Editing by Dhara Ranasinghe and Christina Fincher) \ No newline at end of file diff --git a/news/AMZN/2023.02.01/Exclusive-EU may miss gigabit target, more investments needed, telcoms group says.txt b/news/AMZN/2023.02.01/Exclusive-EU may miss gigabit target, more investments needed, telcoms group says.txt new file mode 100644 index 0000000000000000000000000000000000000000..553f92efc4beeed5fb6168b856beaa5fb4d0015f --- /dev/null +++ b/news/AMZN/2023.02.01/Exclusive-EU may miss gigabit target, more investments needed, telcoms group says.txt @@ -0,0 +1 @@ +BRUSSELS (Reuters) - The European Union risks missing its target to connect all European households to a gigabit network by 2030, underscoring the need for more investments, according to a study commissioned by telecoms lobbying group ETNO.The study by Analysys Mason comes as the bloc considers the possibility of getting Alphabet Inc's Google, Meta, Amazon.com Inc, Netflix , Apple and Microsoft to bear some of the network costs.Deutsche Telekom, Orange, Telefonica, Telecom Italia and their peers say this should be seen as a fair share contribution from the six content providers which account for more than half of data internet traffic. (Reporting by Foo Yun Chee, Editing by Louise Heavens)By Foo Yun Chee \ No newline at end of file diff --git a/news/AMZN/2023.02.01/Exclusive-EV maker Rivian to cut 6% of jobs amid price war -internal memo.txt b/news/AMZN/2023.02.01/Exclusive-EV maker Rivian to cut 6% of jobs amid price war -internal memo.txt new file mode 100644 index 0000000000000000000000000000000000000000..e2c00a7fa52016a49ddd2ffc018611250263eeac --- /dev/null +++ b/news/AMZN/2023.02.01/Exclusive-EV maker Rivian to cut 6% of jobs amid price war -internal memo.txt @@ -0,0 +1 @@ +The company is focusing resources on ramping up vehicle production and reaching profitability, Chief Executive R.J. Scaringe said in an email to employees on Wednesday announcing the job cuts. Reuters obtained a copy of the email.Layoffs at Rivian come amid falling EV prices kicked off by cuts made recently by Elon Musk-led Tesla and Ford Motor Co. The price cuts by Tesla and Ford are expected to hurt EV upstarts such as Rivian, Lucid Group and British startup Arrival, which Monday said it would lay off half its staff.Despite a blockbuster initial public offering in November 2021, Rivian's shares have fallen nearly 90% from their peak that month to Tuesday's close. "We must focus our resources on ramp and our path to profitability," Scaringe said in the email, in which he apologized to employees for the necessity of the cuts. A Rivian spokesman confirmed the email was sent, but declined further comment.Rivian is focusing on ramping up production of its R1 trucks and EDV delivery vans for top shareholder Amazon.com, and launching its R2 platform, he said. "The changes we are announcing today reflect this focused roadmap." Irvine, California-based Rivian, which has about 14,000 employees, will let go of about 840 staff in a move that will not affect manufacturing operations at its plant in Normal, Illinois.Rivian, which has been losing money on every vehicle it builds, narrowly missed its full-year production target of 25,000 vehicles last year as it dealt with supply-chain disruptions caused by the COVID-19 pandemic. It had previously halved that target.To further conserve its cash, Rivian late last year shelved plans to build delivery vans in Europe with Mercedes. Rivian had earlier pushed back by a year to 2026 the planned launch of a smaller R2 vehicle family at the $5 billion plant it is building in Georgia.Last July, Rivian, which is scheduled to report fourth-quarter results on Feb. 28, laid off staff and suspended some programs as part of a broader restructuring.As of Sept. 30, 2022, the automaker reported having $13.27 billion in cash and cash equivalents, down from over $18 billion a year earlier. (Reporting by Akash Sriram in Bengaluru and Abhirup Roy in San Francisco; Editing by Ben Klayman and Nick Zieminski)By Abhirup Roy and Akash Sriram \ No newline at end of file diff --git a/news/AMZN/2023.02.01/FedEx to cut senior jobs as part of larger staff reduction.txt b/news/AMZN/2023.02.01/FedEx to cut senior jobs as part of larger staff reduction.txt new file mode 100644 index 0000000000000000000000000000000000000000..fcfb56ffaab0f475d88b334aab866158886678e0 --- /dev/null +++ b/news/AMZN/2023.02.01/FedEx to cut senior jobs as part of larger staff reduction.txt @@ -0,0 +1,44 @@ +LOS ANGELES, Feb 1 (Reuters) - FedEx Corp on +Wednesday said it would cut its officer and director ranks by +more than 10% as part of a broad cost-reduction effort that has +reduced staffing at the delivery giant by 12,000 workers since +June, a spokeswoman said.Shares in FedEx rose 3.4% to $200.52 as investors applauded +the move, which signals progress on the company's plan to slash +expenses by $3.7 billion this year.FedEx informed employees about the senior-level layoffs in a +memo, which did not say how many positions would be affected. +The company's overall workforce reductions account for a little +over 2% of FedEx's 547,000 full-time and part-time workers +reported for the year ended May 2022."Unfortunately, this was a necessary action to become a more +efficient, agile organization," wrote Chief Executive Raj +Subramaniam, who added that FedEx is consolidating some teams +and functions.Most of the cuts came through attrition and other headcount +management efforts, spokeswoman Rachael Simmons said.In mid-September, FedEx pulled its profit forecast and +shares swooned more than 20% - the largest single-day drop in +the company's 50-year history.Subramaniam, the company's newly minted CEO, blamed a global +business downturn while critics pointed to a flat-footed +response to slowing demand and ongoing profit pressure from +FedEx's expensive, separately run business units.Gary Bradshaw, a portfolio manager with Hodges Capital +Management in Dallas, recently told Reuters that job cuts would +be welcome, particularly after FedEx lowered its annual profit +forecast."They've got lots of right-sizing to do," Bradshaw said.For decades, FedEx was favored by investors over its +unionized competitor United Parcel Service because it +relied on less costly nonunion and outsourced labor. But in +recent years UPS CEO Carol Tomé has delivered bigger profits and +better service from that company's single network.With its move on jobs, FedEx will have reduced the number of +its full- and part-time employees to around 535,000 - roughly on +par with UPS, based on workforce counts in the most recent +annual reports for each company.But those numbers only tell part of the story because they +exclude roughly 6,000 FedEx contractors and their workers, who +handle most of the FedEx Ground's home delivery business.Most Ground contractors employ about nine to 12 employees +each, said consultant Satish Jindel, who helped found the +company that was rebranded as FedEx Ground. Using an average of +10.5 workers per contractor would add a total of 69,000 jobs at +Ground.FedEx already has temporarily furloughed workers at its +trucking division FedEx Freight as the pandemic-fueled +e-commerce delivery bubble deflates and a recession threatens, +joining transportation-focused companies ranging from delivery +upstart Amazon.com and trucking company C.H. Robinson +Worldwide to transportation broker Uber Freight and +freight forwarding startup Flexport in announcing layoffs. +(Reporting by Lisa Baertlein in Los Angeles; editing by Diane +Craft, Aurora Ellis and Jonathan Oatis) \ No newline at end of file diff --git a/news/AMZN/2023.02.01/Marketmind: Markets go all in for disinflation.txt b/news/AMZN/2023.02.01/Marketmind: Markets go all in for disinflation.txt new file mode 100644 index 0000000000000000000000000000000000000000..af6a850d8b2831b2b3306fe50fb2a5f1865feda2 --- /dev/null +++ b/news/AMZN/2023.02.01/Marketmind: Markets go all in for disinflation.txt @@ -0,0 +1 @@ +Push back? What push back? The main theme ahead of the Fed announcement was that Chair Jerome Powell would definitely, totally, absolutely push back against the recent rapid easing in market conditions given inflation was still sky high.Instead, Powell seemed to go out of his way to do the opposite. The very first question in the new conference invited him to scold markets, and he notes conditions had tightened a lot last year.Given another opportunity, he says he's "not particularly concerned" about market pricing, and later "I'm not going to try to persuade people that have a different forecast" on inflation and policy.Yes there were caveats about it being too early to declare victory and policy will need to be more restrictive. But even then he was blase about another "couple of hikes", and spent more time trying out his new favourite word "disinflation".A pdf search of the conference shows disinflation or disinflationary was used 13 times, compared to twice at his December event. For sure, service inflation had yet to turn the corner, but he expected to see that "fairly soon."For markets, this is like stealing the last cookie in the cookie jar, getting caught red handed, and, instead of a good spanking, you get another cookie, with chocolate on. So of course Treasuries rallied, with 10s down 9bp and 2s 10bp in the wake of the conference and a bit more in Asia. Next targets are the Jan lows at 3.321% and 4.04%.Fed funds partied by pricing in more rate cuts with Fed funds seen at 4.40% by end 2023 and 3.0% by the close of 2024.The euro jumped to a 10-month peak of $1.1034 and could go further if ECB chief Christine Lagarde sounds as hawkish as everyone seems to expect after today's policy meeting.The market is almost fully priced for a hike of 50bp and the promise of more to come, though it was notable that Euribor rallied overnight to imply deeper cuts next year.The ECB is also set to reveal how exactly it plans to reduce the multi-trillion euro stock of bonds on its balance sheet.Across the Channel, the Bank of England is also seen hiking 50bp today, though with some outside risk of 25bp.The following media conference by Governor Andrew Bailey and colleagues is likely to be a tough one, assuming they can even get to it given all the strikes. The IMF, and many others, are predicting recession but inflation is at 10.5% and wage growth running red hot - good luck squaring that circle.For Wall Street, it's a massive earnings day and Meta helped overnight by announcing a $40 billion buy-back that sent its shares up 18%.Healthcare companies BristolMeyers-Squibb Co, Eli Lilly and Co and Merck & Co are due to report before trading commences on Wall Street. The heavy-hitting trifecta of Apple Inc, Amazon.com and Alphabet Inc are after the bell.Key developments that could influence markets on Thursday:- BoE rate decision is at 1200 GMT and the ECB at 1315 GMT. BoE Gov Bailey speaks to reporters at 1230 GMT and ECB President Lagarde at 1345 GMT. (Reporting by Wayne Cole; Editing by Stephen Coates)By Wayne Cole \ No newline at end of file diff --git a/news/AMZN/2023.02.01/Marketmind: Riding the Fed dragon.txt b/news/AMZN/2023.02.01/Marketmind: Riding the Fed dragon.txt new file mode 100644 index 0000000000000000000000000000000000000000..b49b3448571c32affa388981661375bbe43b9edd --- /dev/null +++ b/news/AMZN/2023.02.01/Marketmind: Riding the Fed dragon.txt @@ -0,0 +1 @@ +Asian markets are set for an upbeat Thursday as U.S. stocks whipsawed to a higher close after the Federal Reserve delivered an expected 25 basis point interest rate hike and warned it still expects 'ongoing increases' as it battles inflation.All three major U.S. stock indexes reversed earlier losses to sail across the finish line in positive territory, under assurances from Fed Chairman Jerome Powell that he believes price growth can be tamed "without a significant economic decline."In his remarks and Q&A session following the policy decision, Powell said "there's more work to do," before its goals are met, but acknowledged data shows inflation is beginning to cool."The door is cracking open to end rate hikes, but they still have a chance for one more rate hike at the next meeting," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "Inflation data continues to show major improvements, which is exactly what the Fed needs to take their foot off the pedal."The European Central Bank and the Bank of England are expected to hike their key interest rates by 50 basis points on Thursday.On the economic front, restrictive central bank policies appear to be dampening factory activity, with purchasing managers' indexes around the world either in contraction or struggling to expand.Fourth-quarter earnings season is running on all cylinders, with 190 of the companies in the S&P 500 having reported already. Of those, 69% have delivered consensus-beating profits, according to Refinitiv.Shares of Meta Platforms Inc jumped more than 18% in extended trading after the social media bellwether forecast first-quarter revenue above Wall Street estimates, signaling a rebound in demand for digital ads after months of weak sales.Healthcare companies BristolMeyers-Squibb Co, Eli Lilly and Co and Merck & Co are due to report before trading commences on Wall Street on Thursday, with the heavy-hitting triple play of Apple Inc, Amazon.com and Alphabet Inc expected after the session ends.Elsewhere, the U.S. dollar lost ground against a basket of world currencies, while crude prices settled sharply lower due to a buildup of U.S. oil stocks.Here are some key developments that could provide more direction to markets on Thursday:- South Korea releases CPI inflation data (Jan)- Australia posts building approvals (Dec)- U.S. planned layoffs (Jan), weekly jobless claims land before the opening bell, factory orders (Dec) shortly after (Reporting by Stephen Culp; Editing by Deepa Babington)By Stephen Culp \ No newline at end of file diff --git a/news/AMZN/2023.02.01/Polish competition watchdog accuses Amazon EU of misleading consumers.txt b/news/AMZN/2023.02.01/Polish competition watchdog accuses Amazon EU of misleading consumers.txt new file mode 100644 index 0000000000000000000000000000000000000000..11681bba41bd4b91bf4bf6c9468fe039407e86b1 --- /dev/null +++ b/news/AMZN/2023.02.01/Polish competition watchdog accuses Amazon EU of misleading consumers.txt @@ -0,0 +1 @@ +The office said consumers on Amazon's Polish website were misled as to the moment a sales contract is concluded, product availability, delivery times and consumer rights, which if proven could result in a penalty for Amazon EU of up to 10% of its turnover. (Reporting by Karol Badohal; editing by Jason Neely) \ No newline at end of file diff --git a/news/AMZN/2023.02.01/Stocks rally, dollar slumps after Fed statement, Powell remarks.txt b/news/AMZN/2023.02.01/Stocks rally, dollar slumps after Fed statement, Powell remarks.txt new file mode 100644 index 0000000000000000000000000000000000000000..876b92ab333ac5d06857548fdaff74383a60e2d1 --- /dev/null +++ b/news/AMZN/2023.02.01/Stocks rally, dollar slumps after Fed statement, Powell remarks.txt @@ -0,0 +1,57 @@ +*ADP employment softer than expected*Fed hikes by 25 basis points*Powell acknowledges disinflation process has startedNEW YORK, Feb 1 (Reuters) - A gauge of global stocks +rallied and the U.S. dollar slumped on Wednesday after the +Federal Reserve raised its target interest rate by the expected +25 basis points but comments from Chair Jerome Powell were +interpreted as dovish by the market.The Fed said the U.S. economy was enjoying "modest growth" +and "robust" job gains, with policymakers still "highly +attentive to inflation risks" as it seeks to tighten financial +conditions and reign in high prices. Markets have been pricing +in the possibility of a rate cut by the Fed in the back half of +the year.On Wall Street, U.S. stocks were choppy after the Fed +announcement but began to rally after Chair Jerome Powell +acknowledged inflation was starting to ease and the +disinflationary process was at an early stage."The market’s reaction implies investors feel we are much +closer to the end than we are, let’s say, to the middle of the +rate tightening cycle," said Sam Stovall chief investment +strategist at CFRA in New York."You certainly need disinflation in order to get down to +your inflationary target and even though he did say multiple +times that we are not yet at a sufficiently restrictive policy +stance to bring inflation back down to 2%, the other statements +implied that we are getting pretty close."The Dow Jones Industrial Average rose 6.92 points, or +0.02%, to 34,092.96, the S&P 500 gained 42.61 points, or +1.05%, to 4,119.21 and the Nasdaq Composite added 231.77 +points, or 2%, to 11,816.32.The gains sent the S&P 500 to its highest close since August +25.Before the policy announcement, economic data painted a +mixed picture, with a labor market that remains strong while +manufacturing activity continues to weaken, showing contraction +for a third straight month.Investors have viewed a weaker labor market as a key +component to bring down stubbornly high inflation.Earnings season with earnings from names such as Apple +and Amazon are due on Thursday.Early gains for European shares faded to close virtually +unchanged ahead of the Fed statement, although industrial stocks +, up 0.85%, were a bright spot. On the heels of the Fed, +the European Central Bank (ECB) and Bank of England will make +their policy statements on Thursday, in which each is largely +expected to hike by 50 basis points.The pan-European STOXX 600 index closed down 0.03% +and MSCI's gauge of stocks across the globe +gained 1.08%. MSCI's index hit its highest intraday level since +August 17 and was poised for its biggest one-day percentage gain +since Jan 20.Data on Wednesday showed headline inflation in the euro zone +moderated to 8.5% in January, from 9% in December, while core +prices picked up to 7% from 6.9%, likely keeping pressure on the +ECB to raise interest rates aggressively.The dollar started February on a lower note, continuing its +weakening trajectory of the previous four months, losing further +ground after Powell's comments, hitting its lowest level since +late April. The dollar index fell 0.901%, with the euro +up 1.11% to $1.0983.The Japanese yen strengthened 0.83% versus the greenback at +129.02 per dollar, while Sterling was last trading at +$1.2371, up 0.41% on the day.U.S. Treasury yields initially moved up after the statement +but reversed course and mostly fell after Powell's comments were +still lower on the day, as benchmark 10-year notes +were down 10.5 basis points to 3.424%, from 3.529% late on +Tuesday, although the two-year yield briefly turned higher after +the most recent batch of economic data.Despite the drop in the dollar, U.S. crude settled +down 3.12% to $$76.41 per barrel and Brent settled at +$82.84, 3.07% lower on the day after U.S. government data showed +big builds in inventories while OPEC and its allies kept to +their output policy.(Reporting by Chuck Mikolajczak; editing by Jonathan Oatis and +Diane Craft) \ No newline at end of file diff --git a/news/AMZN/2023.02.01/Stocks rise, dollar falls after Fed hikes as expected.txt b/news/AMZN/2023.02.01/Stocks rise, dollar falls after Fed hikes as expected.txt new file mode 100644 index 0000000000000000000000000000000000000000..22f1381a0ee4e174312ab633750a673247834a43 --- /dev/null +++ b/news/AMZN/2023.02.01/Stocks rise, dollar falls after Fed hikes as expected.txt @@ -0,0 +1,54 @@ +*ADP employment softer than expected*Fed hikes by 25 basis pointsNEW YORK, Feb 1 (Reuters) - A gauge of global stocks +rose and the U.S. dollar and Treasury yields were lower on +Wednesday after the Federal Reserve raised its target interest +rate by the expected 25 basis points but communicated more +increases were on the horizon.The Fed said the U.S. economy was enjoying "modest growth" +and "robust" job gains, with policymakers still "highly +attentive to inflation risks" as it seeks to tighten financial +conditions and reign in high prices. Markets have been pricing +in the possibility of a rate cut by the Fed in the back half of +the year.On Wall Street, U.S. stocks were choppy after the Fed +announcement but rebounded to turn positive as Chair Jerome +Powell began to speak."The key thing the Fed is focused on is wages and we are +seeing wage inflation continue to ameliorate if you look at both +average hourly earnings and the employment cost index which just +came out, wages are beginning to soften, but they are not +softening enough to get inflation down to that 2% target," said +Ellen Hazen, chief market strategist at F.L.Putnam Investment +Management in Wellesley, Massachusetts."They had a very slightly dovish change in the language +where they previously had talked about determining the pace of +future increases and now they are talking about determining the +extent of future increases."Investors will now closely eye comments from Fed Chair +Powell for further signals on the path of the central bank's +policy.The Dow Jones Industrial Average fell 5.45 points, or +0.02%, to 34,080.59, the S&P 500 gained 30.83 points, or +0.76%, to 4,107.43 and the Nasdaq Composite added 173.22 +points, or 1.5%, to 11,757.77.Before the policy announcement, economic data painted a +mixed picture, with a labor market that remains strong while +manufacturing activity continues to weaken, showing contraction +for a third straight month.Investors have viewed a weaker labor market as a key +component to bring down stubbornly high inflation.Earnings season also continues to roll on, with Facebook +owner Meta reporting earnings after the closing bell on +Wednesday. Later in the week will bring earnings from names such +as Apple and Amazon.Early gains for European shares faded to close virtually +unchanged ahead of the Fed statement, although industrial stocks +, up 0.85%, were a bright spot. On the heels of the Fed, +the European Central Bank (ECB) and Bank of England will make +their policy statements on Thursday, in which each is largely +expected to hike by 50 basis points.The pan-European STOXX 600 index closed down 0.03% +and MSCI's gauge of stocks across the globe +gained 0.81%.Data on Wednesday showed headline inflation in the euro zone +moderated to 8.5% in January, from 9% in December, while core +prices picked up to 7% from 6.9%, likely keeping pressure on the +ECB to raise interest rates aggressively.The dollar started February on a lower note, continuing its +weakening trajectory of the previous four months. The dollar +index fell 0.823%, with the euro up 0.99% to +$1.097.The Japanese yen strengthened 0.94% versus the greenback at +128.89 per dollar, while Sterling was last trading at +$1.2378, up 0.47% on the day.U.S. Treasury yields moved up after the statement but were +still lower on the day, as benchmark 10-year notes +were down 11.6 basis points to 3.413%, from 3.529% late on +Tuesday, although the two-year yield briefly turned higher after +the most recent batch of economic data.U.S. crude recently fell 2.93% to $76.56 per barrel +and Brent was at $82.91, down 2.98% on the day.(Reporting by Chuck Mikolajczak; editing by Jonathan Oatis and +Diane Craft) \ No newline at end of file diff --git a/news/AMZN/2023.02.01/Tinder owner to lay off 8% of its staff as growth falters.txt b/news/AMZN/2023.02.01/Tinder owner to lay off 8% of its staff as growth falters.txt new file mode 100644 index 0000000000000000000000000000000000000000..7b0ea331ccbbcf445d55d09303b68cc75f307656 --- /dev/null +++ b/news/AMZN/2023.02.01/Tinder owner to lay off 8% of its staff as growth falters.txt @@ -0,0 +1,25 @@ +Feb 1 (Reuters) - Match Group Inc on Wednesday +joined a growing list of U.S. companies that are cutting jobs to +rein in costs after it announced plans to lay off about 8% of +its workforce, or about 200 employees, as spending on its dating +apps slows.The company gave a lackluster quarterly revenue forecast a +day earlier that it blamed on a tough economy, a strong dollar +and "significant" poor product execution at Tinder. Product +delays have also hit its Hinge app at a time when competition is +rising from rival Bumble Inc.The job cuts were mainly in areas such as recruiting, the +company said in an email. The cuts have already taken place in +the United States and are being implemented in other countries.Match incurred about $3 million in severance and similar +costs during the fourth quarter and said it was expecting +additional costs of about $6 million in 2023. It said the moves +would help improve margins in the second half of the year.Shares of Texas-based Match were down 7.7%.The layoffs come as other tech firms from Microsoft Corp +to Amazon.com Inc shed tens of thousands of +jobs to brace for a possible recession."In addition to the cuts, we expect Match to place greater +emphasis on marketing its Tinder and Hinge brands, core areas of +growth for 2023," CFRA Research analyst Angelo Zino said.Match, which has primarily relied on word-of-mouth +advertising, said Tinder will be launching its first global +marketing campaign in the current quarter to improve brand +perception.It forecast first-quarter revenue between $790 million and +$800 million, lower than analysts' estimates of $817.3 million, +according to Refinitiv data. The company also reported its +first-ever quarterly revenue decline.(Reporting by Vansh Agarwal and Shreyaa Narayanan in Bengaluru; +Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.02.02/AMAZON COM INC : Buy rating from Jefferies.txt b/news/AMZN/2023.02.02/AMAZON COM INC : Buy rating from Jefferies.txt new file mode 100644 index 0000000000000000000000000000000000000000..62dd9dc547b25354e2a26643da53bae054152544 --- /dev/null +++ b/news/AMZN/2023.02.02/AMAZON COM INC : Buy rating from Jefferies.txt @@ -0,0 +1 @@ +In a research note published by Alexander Thiel, Jefferies advises its customers to buy the stock. The target price is unchanged and still at USD 125. \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Amazon : Q4 Earnings Snapshot.txt b/news/AMZN/2023.02.02/Amazon : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..c89d3a4d4792f71af6075532c04a9741a23ec598 --- /dev/null +++ b/news/AMZN/2023.02.02/Amazon : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +SEATTLE (AP) _ Amazon.com Inc. (AMZN) on Thursday reported fourth-quarter profit of $278 million.On a per-share basis, the Seattle-based company said it had profit of 3 cents. Earnings, adjusted for non-recurring costs, came to 21 cents per share.The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.The online retailer posted revenue of $149.2 billion in the period, also exceeding Street forecasts. Thirteen analysts surveyed by Zacks expected $145.37 billion.For the current quarter ending in March, Amazon said it expects revenue in the range of $121 billion to $126 billion. Analysts surveyed by Zacks had expected revenue of $121.33 billion.Amazon shares have risen 34% since the beginning of the year, while the S&P's 500 index has risen almost 9%. In the final minutes of trading on Thursday, shares hit $112.44, a fall of 25% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMZN at https://www.zacks.com/ap/AMZNCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Amazon beats Q4 revenue estimates, but profits slump.txt b/news/AMZN/2023.02.02/Amazon beats Q4 revenue estimates, but profits slump.txt new file mode 100644 index 0000000000000000000000000000000000000000..7186655fb677d2042c769cfd68f99628739320ed --- /dev/null +++ b/news/AMZN/2023.02.02/Amazon beats Q4 revenue estimates, but profits slump.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Amazon on Thursday reported worse-than-expected fourth-quarter profits, but its revenue beat expectations boosted by sales in its cloud-computing unit AWS, which is also seeing a slow-down in growth.Amazon said it earned $300 million, or 3 cents per share, in the October-December quarter. Industry analysts were expecting the Seattle-based company to earn 17 cents a share, according to FactSet.The e-commerce giant said its bottom line was dented by a $2.3 billion write-down of the value of its stock investment in electric vehicle startup Rivian Automotive.Amazon's fourth quarter profits represent a significant drop from the $14.3 billion it posted during the same period in 2021, when the company had a nearly $12 billion gain from its investment in Rivian Automotive.Shares in Amazon.com Inc. fell 4% in after-hours trading.At the same time, Amazon said its overall revenue rose 9% to $149.2 billion, higher than the $145.7 billion analysts were expecting. It said it expects revenue of between $121 billion and $126 billion during the current quarter. Analysts had been expecting $125 billion.The earnings report closes a rough 2022 for Amazon. The company's stock lost nearly half of its value last year amid a broader sell-off of tech shares tied to rising inflation, interest rates and concerns about the wider economy. On Thursday, it posted a loss of $2.7 billion for the full-year.“While some of this is down to the company’s investment in Rivian, which is putting significant pressure on the bottom line, it is also clear that a material slowdown across many parts of the business is causing considerable pain,” said Neil Saunders, managing director of GlobalData.Amazon has been struggling to right-size its business in the past year as consumers pulled back from the pandemic-induced move towards online shopping. To keep up with the demand at the time, it boosted hiring at its corporate offices and its warehouses, nearly doubling its workforce to more than 1.6 million by the beginning of last year.But as its retail business cooled, Amazon has been attempting to curb expenses that have outpaced sales in its North America and international businesses since the fourth quarter of 2021. It spent some of last year reducing its warehouse workforce through attrition, and canceling or delaying plans to open warehouses in different parts of the country. The company said Thursday its North America business grew by 13%, but expenses still outpaced growth.Amazon has been further tightening its budget by eliminating certain parts of its business and laying off workers in the past few months amid rising concerns about whether the U.S. will dip into a recession. In November, it began what would be the largest set of job cuts among its corporate offices, expected to be over 18,000 jobs in total, according to a note to employees by the company’s CEO Andy Jassy. Other tech companies that hired rapidly during the pandemic, including Facebook parent Meta, Microsoft and Salesforce, have also been cutting jobs.Shoppers have been reducing their spending in recent months amid high inflation and wider economic uncertainty. Retail sales fell a worse-than-expected 1.1% in December, following a revised 1% drop in November, according to the Commerce Department.To entice budget-conscious shoppers, Amazon, along with other retailers, began offering holiday deals in October. The company said in November it saw its biggest ever Thanksgiving holiday shopping period. But Thursday’s report shows its online stores division fell by 2%.“We saw customers spend less in discretionary categories, shift to lower-priced items and value-brands,” Amazon’s Chief Financial Officer Brian Olsavsky said during a media call Thursday, adding the company was seeing lower growth rates internationally as consumers abroad feel the effects of high inflation and the economic repercussions of war in Ukraine.Amid the consumer pullback in online shopping, the company has relied on other profitable areas of its business to boost its revenue. Amazon’s advertising arm saw a 23% growth during the fourth quarter, but it's been slowing in growth as businesses cut their advertising costs. Meanwhile, its cloud-computing unit AWS grew by 20%, compared to 40% during the same period in 2021. Jassy said in an earnings call with analysts on Thursday that businesses that would use the service are being more cautious and looking for ways to save money.“We’re going to help our customers find ways to spend less money,” he said.Amazon's physical stores unit, which includes Whole Foods, grew by 6%. But Saunders said much of the could be tied to inflation rather than more sales.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Amazon beats estimates for quarterly sales.txt b/news/AMZN/2023.02.02/Amazon beats estimates for quarterly sales.txt new file mode 100644 index 0000000000000000000000000000000000000000..e5436f47592e09deaeaa0ce8d766b06638a449b5 --- /dev/null +++ b/news/AMZN/2023.02.02/Amazon beats estimates for quarterly sales.txt @@ -0,0 +1 @@ +Net sales were $149.20 billion in the fourth quarter, compared with analysts' expectations of $145.42 billion, according to IBES data from Refinitiv. (Reporting by Tiyashi Datta in Bengaluru; Editing by Anil D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Amazon still grasping for success with supermarkets, CEO says.txt b/news/AMZN/2023.02.02/Amazon still grasping for success with supermarkets, CEO says.txt new file mode 100644 index 0000000000000000000000000000000000000000..ecaacf4c9e6ffc20f351bfd65322772e8239a338 --- /dev/null +++ b/news/AMZN/2023.02.02/Amazon still grasping for success with supermarkets, CEO says.txt @@ -0,0 +1 @@ +The company has paused expansion of its Fresh supermarkets and cashier-less convenience stores until it finds the right recipe for success, Chief Executive Andy Jassy said on Thursday, in a rare appearance on the company's quarterly results call.What the company needs is a distinctive store format that's doing well financially before embarking on a major expansion, a formula Amazon hopes to find this year, he said.The remarks show how Amazon, which just a year ago said it would close its bookstores to focus on grocery, has yet to dominate brick-and-mortar retail since its closely watched acquisition of Whole Foods Market in 2017. Amazon has long viewed grocery as a key to unlock more consumer spending.Rival grocers like Kroger Co and Walmart Inc remain fearsome competition. Despite Amazon's large business from packaged food and other goods, it has yet to win significant market share in perishables, Jassy said.Michael Pachter, an analyst with Wedbush Securities, said Amazon has itself to blame, having drawn consumers to online shopping decades ago."Retail is a tough business," he said. "They are flushing money down a toilet pursuing Amazon Fresh stores" and thinking "they can brand a new concept and capture share from retailers who have been successful for decades."Jassy said the future of grocery was both online and offline, or omnichannel.He said Whole Foods is growing and remains on top for premium, organic grocery, but Amazon's mass-appeal offering needed work.The company has a few dozen Amazon Fresh stores so far, Jassy said. It has also experimented with technology that bills shoppers for what they take from a store without having to pass by a cash register.For the time being, the company has closed some grocery shops and impaired certain assets. It took a $720 million charge from such actions in the fourth quarter, its chief financial officer said. (Reporting By Jeffrey Dastin in San Francisco; Editing by Leslie Adler)By Jeffrey Dastin and Tiyashi Datta \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Amazon workers in Barcelona strike over warehouse closure.txt b/news/AMZN/2023.02.02/Amazon workers in Barcelona strike over warehouse closure.txt new file mode 100644 index 0000000000000000000000000000000000000000..84349dfec266c73919237df77ccb4a5ed600e05b --- /dev/null +++ b/news/AMZN/2023.02.02/Amazon workers in Barcelona strike over warehouse closure.txt @@ -0,0 +1 @@ +They have staged pickets at the entrances to the warehouse, but union leaders said they were allowing truck drivers to enter and leave the centre where 800 people work and accused Amazon of acting "in bad faith" by calling riot police to clear the area on the first day.Amazon declined to comment on the ongoing dispute. On Jan. 11, the delivery giant announced it would close the warehouse in the Martorelles suburb and shift its activity to the city of Zaragoza, some 300 km (186 miles) west of Barcelona.While Amazon said all employees would be transferred to other logistics centres in Spain without any job losses, trade unions described the move as "disguised layoffs" and said the collective bargaining deals in other provinces would result in worse pay conditions for workers. "Does Amazon really need to make more profit? It has more millions than entire countries," Elisenda Mas, a spokesperson for Spain's largest union CCOO, told Reuters. "It's shameful."She said that Amazon's latest offer for employees willing to move to Zaragoza or to Figueres in the neighbouring province of Girona - located 125 km north of Barcelona - was a one-off relocation bonus of 3,000 euros ($3,280) plus an unspecified amount spread out in 12 monthly instalments. But the separate collective bargaining agreement in those provinces would entail a pay cut of at least 700 euros per month, she said, adding that moving away from Barcelona, where her husband works and her child attends school, was not a viable option. Striking workers are asking to be relocated to other Amazon warehouses within the province of Barcelona. Last month, Amazon announced more than 18,000 job cuts globally, mainly impacting its e-commerce and human resources divisions, amid similar moves by tech companies such as Meta or Alphabet. ($1 = 0.9147 euros) (Reporting by David Latona; Editing by Andrei Khalip and Barbara Lewis) \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Amazon's outlook disappoints as customer budgets stay tight.txt b/news/AMZN/2023.02.02/Amazon's outlook disappoints as customer budgets stay tight.txt new file mode 100644 index 0000000000000000000000000000000000000000..de9d2f5e552e568babbaafebab5a384d216c028e --- /dev/null +++ b/news/AMZN/2023.02.02/Amazon's outlook disappoints as customer budgets stay tight.txt @@ -0,0 +1,38 @@ +Feb 2 (Reuters) -Amazon.com Inc on Thursday forecast operating +profit may continue to slump in the current quarter, as mass +layoffs at the retailer only dent the financial impact of +consumers and cloud customers clamping down on spending.And while Amazon's holiday revenue beat Wall Street's +expectations, sales growth from its lucrative cloud-computing +division slowed during the fourth quarter.Shares fell 5% in after-hours trade, erasing their 7% +gain before the market's close Thursday.Facing high inflation and an uncertain economy, CEO Andy +Jassy has aimed to slash costs across Amazon's vast array of +businesses.Last month, he announced more than 18,000 employees +particularly in its commerce and human resources divisions would +lose their jobs. Amazon likewise has scaled back or shut down +entire services like its virtual primary care offering for +employers.At the same time, Amazon is seeking new revenue in the +face of higher gas and consumer prices that have discouraged +shoppers from splurging online, especially in Europe. The +company plans to charge certain grocery delivery fees for U.S. +Prime members, on top of recent price hikes to join the loyalty +program; it has created an add-on generic-drug subscription to +attract business as well.Despite this, Amazon forecast it would earn between $0 +and $4 billion in operating income this quarter, compared with +$3.7 billion in the same period a year prior and $4.04 billion +analysts were expecting, according to research firm FactSet.In a press release, Jassy said the company was making +progress on cost cutting."In the short term, we face an uncertain economy, but we +remain quite optimistic about the long-term opportunities for +Amazon," he said.Amazon's outlook is in particular tied to the fortunes +of its cloud-computing division. Long a major source of profit, +Amazon Web Services has seen sales growth slow down, and +industry executives, including at rival Microsoft Corp +have said economic uncertainty has prompted enterprises to +rethink how much they're willing to spend on cloud.The division fell short of estimates of more than $22 +billion in fourth-quarter cloud sales, increasing them 20% to +$21.4 billion.An October sale to encourage early holiday shopping on +Amazon helped with retail revenue, to a point. The company's +total net sales were $149.20 billion in the fourth quarter, +compared with analysts' expectations of $145.42 billion, +according to IBES data from Refinitiv. +(Reporting by Jeffrey Dastin in San Francisco and Tiyashi Datta +in Bengaluru; Editing by Anil D'Silva and Aurora Ellis) \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Amazon.com Announces Fourth Quarter Results.txt b/news/AMZN/2023.02.02/Amazon.com Announces Fourth Quarter Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..a7d67a6336f484c2f37a03c02dc3151ee2fcbad3 --- /dev/null +++ b/news/AMZN/2023.02.02/Amazon.com Announces Fourth Quarter Results.txt @@ -0,0 +1,7761 @@ + +Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its fourth quarter ended December 31, 2022. + +Fourth Quarter 2022 + +Full Year 2022 + +“Our relentless focus on providing the broadest selection, exceptional value, and fast delivery drove customer demand in our Stores business during the fourth quarter that exceeded our expectations—and we’re appreciative of all our customers who turned to Amazon this past holiday season,” said Andy Jassy, Amazon CEO. “We’re also encouraged by the continued progress we’re making in reducing our cost to serve in the operations part of our Stores business. In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities for Amazon. The vast majority of total market segment share in both Global Retail and IT still reside in physical stores and on-premises datacenters; and as this equation steadily flips, we believe our leading customer experiences in these areas along with the results of our continued hard work and invention to improve every day, will lead to significant growth in the coming years. When you also factor in our investments and innovation in several other broad customer experiences (e.g. streaming entertainment, customer-first healthcare, broadband satellite connectivity for more communities globally), there’s additional reason to feel optimistic about what the future holds.” + +Highlights + +Obsessing over the customer experience + +Amazon obsesses over how to make customers’ lives better and easier every day. This is true for consumers, sellers, brands, developers, enterprises, and creators. For example, in the past quarter, Amazon: + +Inventing on behalf of customers + +Amazon is driven by a passion for invention across all of its business areas. The company builds new products and services that customers ask for, and also invents new ones that customers didn’t know they wanted but make their lives or businesses better in some meaningful way. For example, this past quarter, Amazon: + +Empowering employees and delivery service partners + +In addition to its focus on customers, Amazon strives to make every day better for its employees and delivery service providers. For example, in the fourth quarter, the company: + +Supporting communities and protecting the environment + +Amazon believes that success and scale bring broad responsibility to help the planet, future generations, and local communities in which the company has a significant presence. Amazon employees have passion for investing in these areas, and a sampling of the efforts from this past quarter are that Amazon: + +Financial Guidance + +The following forward-looking statements reflect Amazon.com’s expectations as of February 2, 2023, and are subject to substantial uncertainty. Our results are inherently unpredictable and may be materially affected by many factors, such as uncertainty regarding the impacts of the COVID-19 pandemic, fluctuations in foreign exchange rates, changes in global economic and geopolitical conditions and customer demand and spending (including the impact of recessionary fears), inflation, interest rates, regional labor market and global supply chain constraints, world events, the rate of growth of the Internet, online commerce, and cloud services, and the various factors detailed below. + +First Quarter 2023 Guidance + +A conference call will be webcast live today at 2:30 p.m. PT/5:30 p.m. ET, and will be available for at least three months at amazon.com/ir. This call will contain forward-looking statements and other material information regarding the Company’s financial and operating results. + +These forward-looking statements are inherently difficult to predict. Actual results and outcomes could differ materially for a variety of reasons, including, in addition to the factors discussed above, the amount that Amazon.com invests in new business opportunities and the timing of those investments, the mix of products and services sold to customers, the mix of net sales derived from products as compared with services, the extent to which we owe income or other taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the outcomes of claims, litigation, government investigations, and other proceedings, fulfillment, sortation, delivery, and data center optimization, risks of inventory management, variability in demand, the degree to which the Company enters into, maintains, and develops commercial agreements, proposed and completed acquisitions and strategic transactions, payments risks, and risks of fulfillment throughput and productivity. Other risks and uncertainties include, among others, risks related to new products, services, and technologies, system interruptions, government regulation and taxation, and fraud. In addition, global economic and geopolitical conditions and additional or unforeseen circumstances, developments, or events may give rise to or amplify many of these risks. More information about factors that potentially could affect Amazon.com’s financial results is included in Amazon.com’s filings with the Securities and Exchange Commission (“SEC”), including its most recent Annual Report on Form 10-K and subsequent filings. + +Our investor relations website is amazon.com/ir and we encourage investors to use it as a way of easily finding information about us. We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, corporate governance information (including our Code of Business Conduct and Ethics), and select press releases, which may contain material information about us, and you may subscribe to be notified of new information posted to this site. + +About Amazon + +Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. 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+ +23 + +% + +N/A + +  + +AWS + +$ + +16,110 + +  + +$ + +17,780 + +  + +$ + +18,441 + +  + +$ + +19,739 + +  + +$ + +20,538 + +  + +$ + +21,378 + +  + +20 + +% + +AWS -- Y/Y growth, excluding F/X + +  + +39 + +% + +  + +40 + +% + +  + +37 + +% + +  + +33 + +% + +  + +28 + +% + +  + +20 + +% + +N/A + +  + +Other (6) + +$ + +479 + +  + +$ + +710 + +  + +$ + +661 + +  + +$ + +1,070 + +  + +$ + +1,263 + +  + +$ + +1,253 + +  + +77 + +% + +Other -- Y/Y growth, excluding F/X + +  + +15 + +% + +  + +19 + +% + +  + +28 + +% + +  + +135 + +% + +  + +168 + +% + +  + +80 + +% + +N/A + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Stock-based Compensation Expense + +  + +  + +  + +  + +  + +  + +  + +Cost of sales + +$ + +126 + +  + +$ + +179 + +  + +$ + +146 + +  + +$ + +213 + +  + +$ + +190 + +  + +$ + +208 + +  + +16 + +% + +Fulfillment + +$ + +473 + +  + +$ + +565 + +  + +$ + +498 + +  + +$ + +763 + +  + +$ + +727 + +  + +$ + +757 + +  + +34 + +% + +Technology and content + +$ + +1,627 + +  + +$ + +1,903 + +  + +$ + +1,645 + +  + +$ + +2,814 + +  + +$ + +3,036 + +  + +$ + +3,126 + +  + +64 + +% + +Sales and marketing + +$ + +657 + +  + +$ + +726 + +  + +$ + +665 + +  + +$ + +990 + +  + +$ + +1,128 + +  + +$ + +1,092 + +  + +51 + +% + +General and administrative + +$ + +297 + +  + +$ + +307 + +  + +$ + +296 + +  + +$ + +429 + +  + +$ + +475 + +  + +$ + +423 + +  + +38 + +% + +Total stock-based compensation expense + +$ + +3,180 + +  + +$ + +3,680 + +  + +$ + +3,250 + +  + +$ + +5,209 + +  + +$ + +5,556 + +  + +$ + +5,606 + +  + +52 + +% + +Other + +  + +  + +  + +  + +  + +  + +  + +WW shipping costs + +$ + +18,108 + +  + +$ + +23,656 + +  + +$ + +19,560 + +  + +$ + +19,304 + +  + +$ + +19,942 + +  + +$ + +24,714 + +  + +4 + +% + +WW shipping costs -- Y/Y growth + +  + +20 + +% + +  + +10 + +% + +  + +14 + +% + +  + +9 + +% + +  + +10 + +% + +  + +4 + +% + +N/A + +  + +WW paid units -- Y/Y growth (7) + +  + +8 + +% + +  + +3 + +% + +  + +0 + +% + +  + +1 + +% + +  + +11 + +% + +  + +8 + +% + +N/A + +  + +WW seller unit mix -- % of WW paid units (7) + +  + +56 + +% + +  + +56 + +% + +  + +55 + +% + +  + +57 + +% + +  + +58 + +% + +  + +59 + +% + +N/A + +  + +Employees (full-time and part-time; excludes contractors & temporary personnel) + +  + +1,468,000 + +  + +  + +1,608,000 + +  + +  + +1,622,000 + +  + +  + +1,523,000 + +  + +  + +1,544,000 + +  + +  + +1,541,000 + +  + +(4 + +)% + +Employees (full-time and part-time; excludes contractors & temporary personnel) -- Y/Y growth (decline) + +  + +30 + +% + +  + +24 + +% + +  + +28 + +% + +  + +14 + +% + +  + +5 + +% + +  + +(4 + +)% + +N/A + +  + +________________________ + +(1) + +Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital product subscriptions that provide unlimited viewing or usage rights are included in “Subscription services.” + +(2) + +Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in “Online stores.” + +(3) + +Includes commissions and any related fulfillment and shipping fees, and other third-party seller services. + +(4) + +Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services. + +(5) + +Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising. + +(6) + +Includes sales related to various other offerings, such as certain licensing and distribution of video content and shipping services, and our co-branded credit card agreements. + +(7) + +Excludes the impact of Whole Foods Market. + +Amazon.com, Inc. +Certain Definitions + +Customer Accounts + +Seller Accounts + +AWS Customers + +Units + +  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005991/en/ \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt b/news/AMZN/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt new file mode 100644 index 0000000000000000000000000000000000000000..469ef069fc5071e3016f1e870dad7db43b7f7e17 --- /dev/null +++ b/news/AMZN/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt @@ -0,0 +1,35 @@ + +  +  +Corporate results: + +ABB: Order intake declines in Q4. +Banco Santander: Q4 net profit rises to €2.3bn. +Deutsche Bank: Q4 net profit comes up a little short of expectations. Current year revenues expected to be between €28-29bn. +Infineon: Segment margin expected to come out in fiscal Q2 at around 25%, versus 23.5% initially projected. +ING Groep: Q4 net profit came in at €1.1bn, slightly above consensus. +Nordea: Q4 net profit reaches €1.64bn. +Roche Holding: 2023 growth expected to slow. +Shell: The oil major company posted a record annual profit of $40bn. +Siemens Healthineers: The group reports a 28% drop in Q4 operating profit due to lower Covid test sales and delays at a supplier to its Varian business. +Sony: Annual operating profit should be slightly higher than expected. +Meta Platforms jumped 19 percent in pre-market trading after announcing Wednesday night a $40 billion share buyback program, tighter cost controls this year and an upbeat forecast for its first-quarter revenue. Apple, Alphabet and Amazon, which will report results after the U.S. markets close, were up 1.1% to 4.3% in pre-market trading. +Eli Lilly on Thursday raised its full-year profit target, expecting higher demand for its new diabetes drug Mounjaro. +Estee Lauder raised its full-year sales forecast Thursday on solid demand for its products and an expected recovery in China, its largest market. +Honeywell reported a 28.6% drop in fourth-quarter profit, hampered by supply problems and labor shortages. +Merck reported a better-than-expected quarterly profit on strong Asian sales of its Covid-19 antiviral. The company's profit forecast for this year, however, came in below analysts' consensus, sending the stock down 1% in premarket trading. +Metlife reported a 33% drop in adjusted fourth-quarter profit on Wednesday. + +In other news: + +KKR has made a non-binding offer to acquire a majority stake in Telecom Italia's fixed-line telecommunications network. +Boeing won a $1.62 billion contract from the U.S. Air Force to supply guidance systems for the Minuteman III intercontinental ballistic missile. +Pinterest decided to lay off about 150 employees, less than 5 percent of its workforce, Bloomberg reported Wednesday. +Adani Enterprises cancels its capital increase. +FedEx will lay off more than 10% of its executives and directors. +Sony will promote CFO Hiroki Totoki to president and COO. +Trading in several Adani stocks suspended after their plunge. +Honda will begin production of a new hydrogen fuel cell system developed jointly with General Motors. +Swatch proposes a dividend of CHF 6 per share (CHF 1.20 per registered share). + +Today's main earnings reports: Apple, Alphabet, Amazon, Eli Lilly, Roche, Merck & Co, Costco, Shell, Sony, Qualcomm, Estée Lauder, ABB, Dassault Systèmes, ING Groep, Infineon, Nordea, Deutsche Bank... All the agenda is here. diff --git a/news/AMZN/2023.02.02/Marketmind: Communication breakdown.txt b/news/AMZN/2023.02.02/Marketmind: Communication breakdown.txt new file mode 100644 index 0000000000000000000000000000000000000000..cdb0ae53159cf84bf7082186cab19d00d29e4576 --- /dev/null +++ b/news/AMZN/2023.02.02/Marketmind: Communication breakdown.txt @@ -0,0 +1 @@ +The Fed, ECB, and BoE have spoken, and the market's message is: We hear you, but we don't believe you.All three raised interest rates as expected this week, said they will act again at upcoming meetings, and with varying degrees of guidance and conviction said they stand ready to tighten even further if inflation conditions warrant it.But investors aren't buying it. Wall Street and world stocks have jumped, bond yields are tumbling, and economists and rates futures markets are scaling back central bank hiking expectations.Contrary to what policymakers are surely aiming for, financial conditions are easing. Look how Germany's 10-year bond yield reacted on Thursday to ECB president Lagarde's press conference - down 20 basis points, one of the biggest falls since the euro was launched in 1999. According to Goldman Sachs, U.S. financial conditions are the loosest since August and have eased 150 basis points since mid-October. That's despite 225 bps of rate hikes since September.The falling dollar and lower Treasury yields have helped loosen financial conditions across most of emerging Asia in recent weeks too. Regional risk appetite remains firm, even though a pause in the equity rally may be overdue.The MSCI Asia ex-Japan index only has to rise around 0.7% on Friday - not an insurmountable challenge on the back of Wall Street's latest bounce - to post its sixth consecutive weekly gain. That would mark 12 increases out of the last 14 weeks, while the MSCI World index has had only one down day in the last 10. Remarkable runs. (Hang Seng tech index )Watch for outsized moves in Asian tech stocks on Friday following the 23% surge in Meta Platforms Inc shares. Apple, Amazon and Google parent Alphabet also reported results after the U.S. close.On the economic data front, a batch of PMI reports will give the latest insight into the health of several key economies in Asia, including China and India, while December retail sales figures from Hong Kong and Singapore will also be released.Here are three key developments that could provide more direction to markets on Friday:- China Caixin services PMI (January)- India S&P Global Services PMI (January)- U.S. non-farm payrolls (January) (By Jamie McGeever; Editing by Deepa Babington)By Jamie McGeever \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Meta surges on cost cut, buyback plans; lifts mega-cap stocks.txt b/news/AMZN/2023.02.02/Meta surges on cost cut, buyback plans; lifts mega-cap stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..08db19fc41fb015a796c0a66cad422c75b79f50d --- /dev/null +++ b/news/AMZN/2023.02.02/Meta surges on cost cut, buyback plans; lifts mega-cap stocks.txt @@ -0,0 +1 @@ +Meta plans to cut costs in 2023 by $5 billion to between $89 billion and $95 billion compared with its earlier outlook of $94 billion to $100 billion, with CEO Mark Zuckerberg calling 2023 the "Year of Efficiency."The company further boosted investot confidence by forecasting first-quarter sales ahead of Wall Street estimates.If premarket gains hold, the company would add nearly $76 billion to its $401.51 billion market value. The stock slumped about 64% in 2022."Promising that 2023 will be a year of efficiency was always likely to go down well with investors concerned about the largesse in spending directed towards the unproven potential of the metaverse," said AJ Bell, investment director at Russ Mould.Meta results also sparked a rally in shares of other mega-cap firms that are set to report quarterly results later in the day. Amazon.com Inc and Google owner Alphabet Inc rose about 4% each, while Apple Inc firmed 1.1%.Shares of social media firm Pinterest Inc added about 5.8% after a report that the online pinboards firm was cutting staff by 150, nearly 5% of its workforce, while Snap Inc added 2% a day after ending nearly 10% lower after the company forecast a decline on current-quarter revenue.Rate-sensitive tech and growth stocks also got a boost as U.S. Treasury yields retreated after Federal Reserve chair Jerome Powell acknowledged on Wednesday that inflation was starting to ease. (Reporting by Medha Singh in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Nasdaq futures jump more than 1% on Meta surge, Fed relief.txt b/news/AMZN/2023.02.02/Nasdaq futures jump more than 1% on Meta surge, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..7718f4c05040d1e2fbcbab7d3e76a3485f93473f --- /dev/null +++ b/news/AMZN/2023.02.02/Nasdaq futures jump more than 1% on Meta surge, Fed relief.txt @@ -0,0 +1 @@ +Facebook-parent Meta Platforms Inc jumped 18.9% in premarket trading after the company also announced a new $40 billion share buyback and said it would cut costs in 2023 by $5 billion to a range of $89 billion to $95 billion.Shares of other growth companies including Apple Inc, Alphabet Inc and Amazon.com Inc rose between 1.1% and 4.3%. The three companies are slated to report quarterly results after market close.Wall Street's main indexes got a boost in the previous session from Powell acknowledging that inflation was starting to ease after the U.S. central bank raised rates by 25 basis points.Although a U.S. recession is widely priced in, Powell's comments aided hopes of it being a mild one.After a bruising 2022, U.S. stock markets have made a strong start to the year, with megacap companies gaining on hopes that the Fed will pull back from its hawkish monetary policy outlook, which in turn could ease some pressure off their valuations.At 5:18 a.m. ET, Dow e-minis were down 45 points, or 0.13%, S&P 500 e-minis were up 20.75 points, or 0.5%, and Nasdaq 100 e-minis were up 179 points, or 1.44%.A 0.2% decline in shares of drugmaker Merck & Co ahead of its quarterly report weighed on Dow futures. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt b/news/AMZN/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..7377c9230398c71d431349ca0d9e9cce14486d3a --- /dev/null +++ b/news/AMZN/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta jumps on $40 billion share buyback*Merck slides on disappointing forecast*Align Technology climbs to nine-month high*U.S. weekly jobless claims fall to nine-month low*Indexes: Dow 0.27%, S&P 1.49%, Nasdaq 3.24%Feb 2 (Reuters) - The Nasdaq rose to a near five-month +intraday high as Meta Platforms surged on rigorous cost +controls, while a dovish message from Federal Reserve Chair +Jerome Powell boosted appetite for risky assets.The Facebook parent soared 26.9% to a near +eight-month high after it announced a new $40 billion share +buyback and said it would cut costs in 2023 by $5 billion to +between $89 billion and $95 billion.The S&P 500 Value index housing Meta jumped 2% to +more than a year's high."It certainly seems that markets are up because earnings +for Meta were surprisingly positive," said Sam Stovall, chief +investment strategist at CFRA Research in New York.Seven of the top 11 S&P 500 sectors advanced, with the +communication services sector, which includes Meta, +jumping 6.7% to its highest in five months.Apple Inc, Alphabet Inc and Amazon.com +Inc rose between 3.2% and 6.4% ahead of their quarterly +results after markets close.Wall Street's main indexes got a boost as Powell +acknowledged that inflation was starting to ease. The U.S. +central bank raised rates by 25 basis points on Wednesday.After a bruising 2022, U.S. stocks have made a strong +comeback, with megacap companies gaining on hopes that the Fed +will ease its hawkish monetary policy stance."Investors are finally looking beyond the specter of the +Federal Reserve raising rates. They see there is an eventual end +to the misery of rate hikes and are realizing so many stocks +were oversold in the misery of last year," said Peter Andersen, +founder of Andersen Capital Management.Meanwhile, data showed jobless claims unexpectedly fell last +week to a nine-month low, highlighting the labor market's +resilience, ahead of nonfarm payroll numbers on Friday.At 13:23 ET, the Dow Jones Industrial Average was +down 93.07 points, or 0.27%, at 33,999.89, the S&P 500 +was up 61.41 points, or 1.49%, at 4,180.62, and the Nasdaq +Composite was up 383.38 points, or 3.24%, at 12,199.70.The S&P 500's chart formed a "golden cross" pattern, in +which its 50-day moving average vaulted above the 200-day moving +average, perceived by many as a bullish signal for near-term +momentum.The price-weighted Dow was the only major index in the red +after disappointing earnings by some of its components. +Honeywell International Inc shed 0.5% after posting a +28.6% fall in quarterly profit.Drugmaker Merck & Co slid 4.6% on a +lower-than-expected annual forecast, while Eli Lilly & Co +dropped 5.5% on missing quarterly revenue estimates.Align Technology Inc surged 29.3% to a nine-month +high on its first quarterly results beat in a year.Analysts now see earnings of S&P 500 firms declining 2.4% +for the quarter, according to Refinitiv estimates.Advancing issues outnumbered decliners by a 2.74-to-1 ratio +on the NYSE, and by a 3.15-to-1 ratio on the Nasdaq.The S&P index recorded 33 new 52-week highs and one new low, +while the Nasdaq recorded 135 new highs and nine new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Nasdaq, S&P 500 close higher on Meta bump, Fed lift.txt b/news/AMZN/2023.02.02/Nasdaq, S&P 500 close higher on Meta bump, Fed lift.txt new file mode 100644 index 0000000000000000000000000000000000000000..5ccf1825d36260d32b555804c9d4054f662fea74 --- /dev/null +++ b/news/AMZN/2023.02.02/Nasdaq, S&P 500 close higher on Meta bump, Fed lift.txt @@ -0,0 +1,43 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta soars after cost controls, $40 bln share buyback*Merck slides on disappointing forecast, UnitedHealth drops*S&P 500, Nasdaq hit roughly 5-month intraday highs(Updates with U.S. market close)Feb 2 (Reuters) - The Nasdaq and S&P 500 ended higher on +Thursday after touching roughly five-month intraday highs as a +more dovish-than-expected message from Federal Reserve Chair +Jerome Powell boosted equities and Meta Platforms shares soared +on rigorous cost controls.Declines in some big healthcare stocks weighed on the +Dow.Shares of megacap stocks Apple, Amazon and +Google parent Alphabet also gained strongly ahead of +their results due after market close.Investors were still digesting the Fed's policy decision on +Wednesday and comments from Powell, who acknowledged progress in +the fight against inflation and appeared reluctant to push back +against the rally in stocks and bonds.“I think the reaction to yesterday’s Fed comments really +encouraged investors to go risk on,” said Rick Meckler, partner +at Cherry Lane Investments in New Vernon, New Jersey. "The +bottom line for investors I think is that the Fed’s comments +were unexpected.”According to preliminary data, the S&P 500 +gained 61.05 points, or 1.48%, to end at 4,180.26 points, +while the Nasdaq Composite gained 384.91 points, or +3.26%, to 12,201.23. The Dow Jones Industrial Average +fell 38.26 points, or 0.11%, to 34,054.70.After a bruising 2022, U.S. stock markets have made a strong +start to the year, with tech and other stocks that lagged last +year leading the rebound amid hopes that the Fed will temper its +aggressive rate hikes, which in turn could alleviate some +pressure on equity valuations.Those trends continued on Thursday. The communications +services sector jumped, led by a surge for Facebook +parent Meta. The company revealed stricter cost +controls this year and a $40 billion share buyback, as CEO Mark +Zuckerberg called 2023 the "year of efficiency."“I think that encapsulates what investors want to hear from +tech companies this year," said Anthony Saglimbene, chief market +strategist at Ameriprise Financial. "They want to hear that it +is a year of efficiency, they are getting out ahead of a +slowdown in the economy."UnitedHealth Group shares fell after the U.S. +government proposed Medicare Advantage reimbursement rates below +analyst estimates, and the stock weighed down the Dow. A decline +in Merck shares, after the drugmaker forecast 2023 +earnings below Wall Street estimates, also dragged on the blue +chip index.Shares of drugmaker Eli Lilly dropped after sales of +its closely watched diabetes drug missed estimates.Data showed jobless claims fell last week to a nine-month +low, highlighting the labor market's resilience, ahead of +monthly U.S. employment numbers on Friday. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi, Anil +D'Silva and Cynthia Osterman) \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Nasdaq, S&P 500 jump on Meta rise, Fed relief.txt b/news/AMZN/2023.02.02/Nasdaq, S&P 500 jump on Meta rise, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..eba3217b97e185602ba2dbc6f8591d3b321d9ffa --- /dev/null +++ b/news/AMZN/2023.02.02/Nasdaq, S&P 500 jump on Meta rise, Fed relief.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta soars after cost controls, $40 bln share buyback*Merck slides on disappointing forecast, UnitedHealth drops*S&P 500, Nasdaq hit roughly 5 month highs*Indexes: Dow down 0.26%, S&P up 1.47%, Nasdaq up 3.38%(Updates with mid-afternoon trading)Feb 2 (Reuters) - The Nasdaq and S&P 500 jumped and +touched roughly five-month highs on Thursday as a more +dovish-than-expected message from Federal Reserve Chair Jerome +Powell boosted equities and Meta Platforms shares soared on +rigorous cost controls.The Dow slipped, weighed down by declines in some big +healthcare stocks.Shares of megacap stocks Apple, Amazon and +Google parent Alphabet also were gaining strongly +ahead of their results due after the market closes.Investors were still digesting the Fed's policy decision on +Wednesday and comments from Powell, who acknowledged progress in +the fight against inflation and appeared reluctant to push back +against the rally in stocks and bonds.“Markets are just reacting to I think a more dovish press +conference from Powell yesterday,” said Anthony Saglimbene, +chief market strategist at Ameriprise Financial. “I think the +market got out of that Fed meeting still hoping that conditions +can be easier at the end of the year.”The Dow Jones Industrial Average fell 88.57 points, +or 0.26%, to 34,004.39, the S&P 500 gained 60.52 points, +or 1.47%, to 4,179.73 and the Nasdaq Composite added +399.57 points, or 3.38%, to 12,215.89.After a bruising 2022, U.S. stock markets have made a strong +start to the year, with tech and other stocks that lagged last +year leading the rebound amid hopes that the Fed will temper its +aggressive rate hikes, which in turn could alleviate some +pressure on equity valuations.Those trends continued on Thursday. The communications +services sector jumped over 6%, led by a 26% gain for Facebook +parent Meta. The company revealed stricter cost controls this +year and a $40 billion share buyback, as CEO Mark Zuckerberg +called 2023 the "year of efficiency."“I think that encapsulates what investors want to hear from +tech companies this year," Saglimbene said. "They want to hear +that it is a year of efficiency, they are getting out ahead of a +slowdown in the economy."The consumer discretionary and tech +sectors rose 3.9% and 2.9%, respectively.The energy sector, one of last year's standout +performers, fell 3%, while healthcare dropped 1%.UnitedHealth Group shares fell 5.6% after the U.S. +government proposed Medicare Advantage reimbursement rates below +analyst estimates, and the stock weighed down the Dow. A 3.9% +decline in Merck shares, after the drugmaker forecast +2023 earnings below Wall Street estimates, also dragged on the +blue chip index.Shares of drugmaker Eli Lilly fell 6% after sales of +its closely watched diabetes drug missed estimates.Data showed jobless claims fell last week to a nine-month +low, highlighting the labor market's resilience, ahead of +monthly U.S. employment numbers on Friday.Advancing issues outnumbered declining ones on the NYSE by a +2.70-to-1 ratio; on Nasdaq, a 3.12-to-1 ratio favored advancers.The S&P 500 posted 35 new 52-week highs and one new low; the +Nasdaq Composite recorded 140 new highs and 11 new lows. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi, Anil +D'Silva and Cynthia Osterman) \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge.txt b/news/AMZN/2023.02.02/Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge.txt new file mode 100644 index 0000000000000000000000000000000000000000..f189214a0f7c2a18b82426aa8d3681c7f3fb8950 --- /dev/null +++ b/news/AMZN/2023.02.02/Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge.txt @@ -0,0 +1,49 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta soars on cost controls, $40 bln share buyback*Merck slides on disappointing forecast, UnitedHealth drops*S&P 500, Nasdaq hit roughly 5-month highs*Indexes: Dow down 0.11%, S&P up 1.47%, Nasdaq up 3.25%(Updates with after-hours trading of Apple, Amazon, Alphabet)Feb 2 (Reuters) - The Nasdaq and S&P 500 ended higher on +Thursday and touched roughly five-month highs as a more +dovish-than-expected message from Federal Reserve Chair Jerome +Powell boosted equities and Meta Platforms shares soared on +rigorous cost controls.The Dow slipped, dragged down by declines in some big +healthcare stocks.Investors were still digesting the Fed's policy decision on +Wednesday and comments from Powell, who acknowledged progress in +the fight against inflation and appeared reluctant to push back +against the rally in stocks and bonds.“I think the reaction to yesterday’s Fed comments really +encouraged investors to go risk on,” said Rick Meckler, partner +at Cherry Lane Investments in New Vernon, New Jersey. "The +bottom line for investors I think is that the Fed’s comments +were unexpected.”The Dow Jones Industrial Average fell 39.02 points, +or 0.11%, to 34,053.94, the S&P 500 gained 60.55 points, +or 1.47%, to 4,179.76 and the Nasdaq Composite added +384.50 points, or 3.25%, to 12,200.82.Shares of megacap stocks Apple, Amazon and +Google parent Alphabet also gained strongly ahead of +results due after market close on Thursday, with Apple rising +3.7%, and Amazon and Alphabet both up over 7%.In initial after-hours trading, however, shares of all three +companies fell after their respective results.After a bruising 2022, U.S. stock markets have made a strong +start to the year, with tech and other stocks that lagged last +year leading the rebound amid hopes that the Fed will temper its +aggressive rate hikes, which in turn could alleviate some +pressure on equity valuations.Those trends continued on Thursday. The communications +services sector jumped 6.7%, its biggest daily gain in +almost three years, led by a 23.3% surge for Facebook parent +Meta. The company revealed stricter cost controls this +year and a $40 billion share buyback, as CEO Mark Zuckerberg +called 2023 the "year of efficiency."The S&P 500's 50-day moving average moved above the 200-day +moving average, a pattern known as a "golden cross" that is +perceived by many as a bullish technical signal for near-term +momentum.The energy sector, one of last year's standout +performers, fell 2.5%, while healthcare dropped 0.7%.UnitedHealth Group shares fell 5.3% after the U.S. +government proposed Medicare Advantage reimbursement rates below +analyst estimates, and the stock weighed down the Dow. A 3.3% +decline in Merck shares, after the drugmaker forecast +2023 earnings below Wall Street estimates, also dragged on the +blue chip index.Shares of drugmaker Eli Lilly dropped 3.5% after +sales of its closely watched diabetes drug missed estimates.Data showed jobless claims fell last week to a nine-month +low, highlighting the labor market's resilience, ahead of +monthly U.S. employment numbers on Friday.Advancing issues outnumbered declining ones on the NYSE by a +2.29-to-1 ratio; on Nasdaq, a 2.55-to-1 ratio favored advancers.The S&P 500 posted 36 new 52-week highs and one new low; the +Nasdaq Composite recorded 162 new highs and 16 new lows.About 15 billion shares changed hands in U.S. exchanges, +compared with the 11.7 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi, Anil +D'Silva and Cynthia Osterman) \ No newline at end of file diff --git a/news/AMZN/2023.02.02/No-surprise rate hikes.txt b/news/AMZN/2023.02.02/No-surprise rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..2efcafd988604b7e8ee5fc53ac7f8455bbe0894b --- /dev/null +++ b/news/AMZN/2023.02.02/No-surprise rate hikes.txt @@ -0,0 +1,35 @@ + +"The more Powell talks, the more stocks and bonds go up". This comment, which graces the front page of Bloomberg's website this morning, is apt and sums up the mood of the moment. Yesterday, the U.S. central bank raised its key rate by 25 basis points, as expected. This comes after four hikes of 75 basis points and one of 50 basis points. The Fed Funds rate is now in the range of 4.50 to 4.75%. A year ago, it was close to zero (0.08% precisely in February). This is a measure of how far we have come in making money more expensive and, as was the plan, cooling inflation. + +That's for the mathematical part. As for the narrative, investors expected to get a bit of a slap on the wrist from Fed boss Jerome Powell. After all, they had given in to their penchant for optimism by moving back into risky assets, despite calls for caution from economists and central bankers. Instead, they got a soft Powell - a nicer version than they had imagined. And by soft, I mean a central banker who didn't use the usual codes of caution and seemed to give in. There were still some warnings, but investors focused on two things. First, the Fed acknowledged that inflation was falling. Second, it didn't seem particularly concerned about the risk taking seen since January 1. And when Powell got a little tougher, the market didn't believe him. It doesn't think that there will be two more rate hikes in the current cycle. Nor does it believe that a rate cut is unthinkable by the end of the year. +As a result, Wall Street up sharply after the press conference. The Nasdaq recovered 2.16% at the end of the day. This is the fourth time in ten sessions that the U.S. technology index gains more than 2%. The S&P500 was up 1.05% at the close. Penalized by its oil and health stocks, the Dow Jones limited its gains to 0.02%. If we had to summarize the session, tech blinked in fluorescent green and energy in red. +Today, the focus turned to the Bank of England and the ECB. The former is facing an inflation of 9.2% with key rates at 3.5%. The latter is facing an inflation of 8.5% with rates at 2.50%. Experts expected a 50 basis point tightening for both institutions, and that's what happened. +The Bank of England raised interest rates for the 10th consecutive time but dropped its pledge to continue to increase them "forcefully" if needed and said inflation had probably peaked. It voted to increase the Bank Rate to 4.0%. The European Central Bank raise rates to 2.5%. +At the same time, corporate earnings releases continue. After several disappointments, Meta Platforms delivered figures that reassured investors last night. The former Facebook was up 20% in after-hours trading, which helped fuel the rebound in technology stocks. Several dozen large companies are scheduled to report today, up to the trio of Apple, Amazon, Alphabet tonight after the close of Wall Street. In premarket trading, futures were up 1.7% on the Nasdaq 100 and 0.7% on the S&P 500, while the Dow was flat. +  +Economic highlights of the day: +We have the Challenger survey on layoffs (8:15 am), weekly jobless claims (10:30 am) and durable goods orders (10:00 am). All the agenda here. This morning, the Caixin Manufacturing PMI for China came in below expectations at 49.2 points, while the "official" PMI was in expansion territory.  +The dollar is up 0.2% against the euro to EUR 0.9105 and up 0.5% against the pound to GBP 8118. The ounce of gold is back up to 1953 dollars. Oil suffered yesterday, with North Sea Brent crude at USD 82.43 a barrel and U.S. light crude WTI at USD 76.08. The yield on 10-year US debt is down to 3.42%. Bitcoin remains near USD 23,000. +  +In corporate news: +* Meta Platforms jumped 19 percent in pre-market trading after announcing Wednesday night a $40 billion share buyback program, tighter cost controls this year and an upbeat forecast for its first-quarter revenue. Apple, Alphabet and Amazon, which will report results after the U.S. markets close, were up 1.1% to 4.3% in pre-market trading. +* Eli Lilly on Thursday raised its full-year profit target, expecting higher demand for its new diabetes drug Mounjaro. +* Estee Lauder raised its full-year sales forecast Thursday on solid demand for its products and an expected recovery in China, its largest market. +* Honeywell reported a 28.6% drop in fourth-quarter profit, hurt by supply problems and labor shortages. +* Merck reported a better-than-expected quarterly profit on strong Asian sales of its Covid-19 antiviral. The company's profit forecast for this year, however, came in below analysts' consensus, sending the stock down 1% in premarket trading. +* KKR has made a non-binding offer to acquire a majority stake in Telecom Italia's fixed-line telecommunications network, the Italian group said Thursday, adding that its board of directors would meet later today to discuss the deal. +* Boeing won a $1.62 billion contract from the U.S. Air Force to supply guidance systems for the Minuteman III intercontinental ballistic missile. +* Pinterest decided to lay off about 150 employees, less than 5 percent of its workforce, Bloomberg reported Wednesday. The stock was up 5.4 percent in premarket trading. +* Metlife reported a 33% drop in adjusted fourth-quarter profit on Wednesday. +  +Analyst recommendations: + +EasyJet: JP Morgan reiterates its Sell rating on the stock. The target price has been raised to GBp 370 from GBp 310. +Fedex: Citi upgrades to buy from neutral. PT up 19% to $240. +Goldman Sachs: Oppenheimer lifts price target to $463 From $441, Maintains Outperform rating +McDonald's: BofA Securities lowers PT to $297 from $303, Maintains Neutral rating +Meta Platforms: Piper Sandler upgrades to overweight from neutral. PT up 40% to $215. +Pets at Home: Liberum downgrades from buy to hold targeting GBp 390. +Standard Chartered: Goldman Sachs downgrades to neutral from buy. PT up 29% to 885 pence. +Stryker: DA Davidson raises price target to $290 From $250, Maintains Buy rating. + diff --git a/news/AMZN/2023.02.02/Stocks climb, U.S. yields fall on central bank pause hopes.txt b/news/AMZN/2023.02.02/Stocks climb, U.S. yields fall on central bank pause hopes.txt new file mode 100644 index 0000000000000000000000000000000000000000..304d231e2a931b2e89ae78708893ce496bc780e5 --- /dev/null +++ b/news/AMZN/2023.02.02/Stocks climb, U.S. yields fall on central bank pause hopes.txt @@ -0,0 +1,43 @@ +*Markets see Fed, BoE and ECB rate hike cycle end on +horizon*Dollar bounces after biggest daily pct drop in a monthNEW YORK, Feb 2 (Reuters) - A gauge of global stocks +rallied and U.S. Treasury yields mostly fell on Thursday, as +policy announcements from a string of central banks fueled +optimism that interest rate hike cycles may be nearing an end.After the U.S. Federal Reserve raised rates by 25 basis +points (bps), as was widely expected, on Wednesday, markets +rallied following comments from Fed Chair Jerome Powell +acknowledging the "disinflationary" process may have begun.The European Central Bank (ECB) and Bank of England (BoE) +hiked by 50 basis points each on Thursday, with the BoE +signaling the tide was turning against inflation and the ECB +indicating at least one more hike was on the horizon.On Wall Street, the S&P 500 and Nasdaq climbed, with the S&P +500 touching its highest intraday level since Aug. 26 and the +Nasdaq hitting its highest since Sept. 12, getting an additional +boost from a 24.24% surge in Facebook parent Meta Platforms Inc +following its quarterly results and $40 billion buyback +announcment."Central banks are in data-dependant mode, but that means +that they’re no longer in control and so markets are basically +leading the central banks at the moment," said Mazen Issa, +senior FX strategist at TD Securities in New York."It sounds like they may be nearing a pause. That doesn’t +necessarily mean that they’ll be cutting rates immediately, but +it means that its going to be much more difficult to price in +higher rates from here, at least for now."The Dow Jones Industrial Average fell 93.99 points, +or 0.28%, to 33,998.97; the S&P 500 gained 59.88 points, +or 1.45%, to 4,179.09; and the Nasdaq Composite added +351.13 points, or 2.97%, to 12,167.45.On the economic front, weekly initial jobless claims dropped +to a nine-month low, showing the labor market remains strong, +while worker productivity in the fourth quarter accelerated. +Investors will eye the January payrolls report on Friday for +further signs of labor market strength.After the closing bell, investors will see earnings from +heavyweights Apple Inc and Amazon.com IncEuropean stocks rallied, with the STOXX 600 poised for its +biggest one-day percentage gain in a month after hitting its +highest intraday level since late April.The pan-European STOXX 600 index rose 1.37% and +MSCI's gauge of stocks across the globe gained +1.21%.Benchmark 10-year notes were down 4 basis points +to 3.358%, from 3.398% late on Wednesday.The dollar bounced, however, from its biggest one-day +percentage drop in nearly a month on Wednesday, while the euro +also weakened following the ECB announcement.The dollar index rose 0.594%, with the euro +down 0.59% to $1.0924.The Japanese yen strengthened 0.44% versus the +greenback at 128.39 per dollar, while Sterling was last +trading at $1.2269, down 0.86% on the day.In commodities, oil prices slipped, with U.S. crude +recently falling 0.69% to $75.88 per barrel and Brent at +$82.23, down 0.74% on the day.(Reporting by Chuck Mikolajczak; additional reporting by Karen +Brettell; editing by Jonathan Oatis) \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Stocks rally, U.S. yields flat on hopes for central banks pause.txt b/news/AMZN/2023.02.02/Stocks rally, U.S. yields flat on hopes for central banks pause.txt new file mode 100644 index 0000000000000000000000000000000000000000..d65fe02e87ec86be96234145632ba80284116127 --- /dev/null +++ b/news/AMZN/2023.02.02/Stocks rally, U.S. yields flat on hopes for central banks pause.txt @@ -0,0 +1,50 @@ +*Markets see Fed, BoE and ECB rate hike cycle end on +horizon*Dollar bounces after biggest daily pct drop in a monthNEW YORK, Feb 2 (Reuters) - A gauge of global stocks +climbed for a third straight day and longer-dated U.S. Treasury +yields were flat on Thursday, as policy announcements from a +host of central banks added to optimism that the cycles of +interest rate hike cycles may be near an end.After the U.S. Federal Reserve raised rates by 25 basis +points (bps) on Wednesday, as was widely expected, markets +rallied following comments from Fed Chair Jerome Powell +acknowledging the "disinflationary" process may have begun.The European Central Bank (ECB) and Bank of England (BoE) +hiked by 50 basis points each on Thursday, with the BoE +signaling the tide was turning against inflation and the ECB +indicating at least one more hike was on the horizon.On Wall Street, the S&P 500 and Nasdaq rallied, with the S&P +500 touching its highest intraday level since Aug. 26 and the +Nasdaq hitting its highest since Sept. 12, getting an additional +boost from a 27.06% surge in Facebook parent Meta Platforms Inc +following its quarterly results and $40 billion buyback +announcement."The market has a different outlook. Judging from past +forecasts, the Fed is pretty awful. Also, the Fed knows the +economy is slowing but Fed Chairs never come out and say these +things," Steven Blitz, Chief U.S. Economist at TS Lombard told +the Reuters Global Markets Forum."So the market sees through this, and after being fooled in +2021 into believing no hikes into 2024 and they are not as +readily willing to be fooled into believing no cuts until 2024."The Dow Jones Industrial Average fell 37.98 points, +or 0.11%, to 34,054.98 while the S&P 500 gained 68.63 +points, or 1.67%, to 4,187.84 and the Nasdaq Composite +added 426.53 points, or 3.61%, to 12,242.85.On the economic front, weekly initial jobless claims dropped +to a nine-month low, showing the labor market remains strong, +while worker productivity in the fourth quarter accelerated. +Investors will eye the January payrolls report on Friday for +further signs of labor market strength.After the closing bell, earnings from heavyweights Apple Inc +and Amazon.com Inc are scheduled to be +released. With 46% of the S&P 500 having reported results, +earnings for the quarter are expected to decline from the +year-ago period, according to Refinitiv data, compared with a +1.6% expected decline at the start of the year.European stocks also jumped, with the STOXX 600 closing at +its highest level since April 21 as it notched its biggest +one-day percentage gain in a month.The pan-European STOXX 600 index rose 1.35% and +MSCI's gauge of stocks across the globe gained +1.31%. The MSCI index hit its highest intraday level since May 5 +and was on track for its ninth gain in the past ten sessions.Benchmark 10-year notes were unchanged to 3.398% +after yields earlier had moved lower.The dollar bounced, however, from its biggest one-day +percentage drop in nearly a month on Wednesday, while the euro +also weakened following the ECB announcement.The dollar index rose 0.674%, with the euro +down 0.64% to $1.0919.The Japanese yen strengthened 0.34% versus the +greenback at 128.51 per dollar, while sterling was last +trading at $1.2249, down 1.03% on the day.In commodities, oil prices were slightly higher, with U.S. +crude recently rose 0.37% to $76.69 per barrel and Brent +at $82.99, up 0.18% on the day.(Reporting by Chuck Mikolajczak; additional reporting by Karen +Brettell and Lisa Pauline Mattackal; editing by Jonathan Oatis +and Chizu Nomiyama) \ No newline at end of file diff --git a/news/AMZN/2023.02.02/Tech earnings hit pause button on market rally.txt b/news/AMZN/2023.02.02/Tech earnings hit pause button on market rally.txt new file mode 100644 index 0000000000000000000000000000000000000000..377052e8cc9d1dcc5c44819b5cbb3ca0821be082 --- /dev/null +++ b/news/AMZN/2023.02.02/Tech earnings hit pause button on market rally.txt @@ -0,0 +1 @@ +Apple Inc, Google parent Alphabet and Amazon.com all posted results for the end-of-year quarter that left a sour taste in investors' mouths. The reports renewed questions about global economic demand, the effect of higher interest rates and whether the market's January rally got ahead of itself.Nascent signs that consumer spending was beginning to rebound in China were not enough to change that.Apple, the world's largest publicly traded company, fell short of expectations, hurt by lower iPhone sales and production disruptions in China. Amazon said operating profits could fallthis quarter due to lower demand, and Alphabet's online advertisers cut back their spend as well. Shares of the three companies dropped after the results were released and were expected to drag the market lower Friday following a euphoric rally Thursday. "Maybe the tech stocks rallied a little bit too much into these numbers, so the market will be taking a deep breath and saying, 'OK, well these companies aren't bulletproof,'" said Daniel Morgan, senior portfolio manager at Synovus Trust Company in Atlanta, Georgia. These three firms and Microsoft, the four U.S. companies with trillion-dollar market values, have led the broad-market S&P 500 in 2023. The index is up nearly 9% year-to-date, with Amazon gaining 34%. Big Tech surged Thursday following a strong quarterly report from Facebook-owner Meta Platforms Inc.That's after the group was battered throughout 2022, trailing the S&P, which dropped nearly 20%. Some investors saw silver linings from Apple and other bellwethers, including Starbucks, that reported results on Thursday. They noted that lockdowns in China strangled sales for many companies in the world's second-biggest economy, expecting a rebound in the coming year. "When things started to reopen in December (in China), we did see an increase in traffic to our stores as compared to November and an increase in demand as December rolled around," Apple Chief Executive Tim Cook told Reuters.Cook said lockdowns in China hurt both production and demand, and the company faced headwinds from the strong U.S. dollar that pushed revenues lower."Currency was a headwind but will be a tailwind in Q1," said Nancy Tengler, chief executive of Laffer Tengler Investments in Scottsdale, Arizona, referring to the dollar's weakening trajectory. "The supply chain was a problem more so than demand, and that seems to have been right-sized." Similarly, Starbucks said comparable sales fell 29% from the previous year in China, the company's fastest-growing market, but that beginning in January, it saw "very encouraging" recovery momentum there. Other U.S. consumer bellwethers painted a mixed picture. Consumer staples giant Clorox said product volumes fell in three of the company's four business segments in the fourth quarter, while automaker Ford said the year ahead was going to be a difficult one. They, and other companies, are still grappling with higher interest rates that are slowing demand. This year's surge in stocks has been built on a rally in bonds, as lower yields make high-valuation shares more attractive. Cost-cutting by Alphabet and Meta led some investors to think that interest rates are affecting demand."In many respects we're waiting for that other shoe to drop - the impact of higher rates on the economy, inflation, earnings and jobs," said Jack Ablin, co-founder and chief investment officer at Cresset Capital, which manages $30 billion. "Profits tend to trough nine months after overnight rates peak and we haven't even seen the peak in overnight rates yet." (Reporting By Herbert Lash, Caroline Valetkevitch and David Gaffen; writing by David Gaffen; Editing by Peter Henderson and Cynthia Osterman)By Caroline Valetkevitch and Herbert Lash \ No newline at end of file diff --git a/news/AMZN/2023.02.02/U.S. layoffs hit two-year high in Jan. as tech slashed thousands of jobs - report.txt b/news/AMZN/2023.02.02/U.S. layoffs hit two-year high in Jan. as tech slashed thousands of jobs - report.txt new file mode 100644 index 0000000000000000000000000000000000000000..ed94f36af27ba13ac7528e33f6afe245eadadfa6 --- /dev/null +++ b/news/AMZN/2023.02.02/U.S. layoffs hit two-year high in Jan. as tech slashed thousands of jobs - report.txt @@ -0,0 +1 @@ +The layoffs impacted 102,943 workers, a more than two-fold jump from December and an over five-times surge from a year earlier, according to the report from employment firm Challenger, Gray & Christmas Inc.Companies from Microsoft Corp to Amazon.com Inc and Goldman Sachs Group Inc cut thousands of jobs last month in a bid to ride out a demand downturn as consumer and corporate spending shrinks due to high inflation and rising interest rates. "We're now on the other side of the hiring frenzy of the pandemic years," said Andrew Challenger, labor expert and Senior Vice President of the employment firm. "Companies are preparing for an economic slowdown, cutting workforce and slowing hiring."The push to correct pandemic excesses has been most evident in the tech sector, which slashed 41,829 jobs last month, the highest across industries. Retailers, second after tech, cut 13,000 positions in January, compared with virtually no layoffs a year earlier. Financial firms, meanwhile, shed 10,603 jobs last month, up from 696 roles a year earlier.With the Federal Reserve expected to continue on its rate-hiking path to stamp down inflation that is still on the higher side after several rounds of rate increases, analysts said more layoffs could be in store for U.S. companies. "For companies that ramped up headcount over the past few years, they will likely shrink their workforce as the economy is headed towards a rough patch," OANDA analyst Edward Moya said. (Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shinjini Ganguli)By Samrhitha A \ No newline at end of file diff --git a/news/AMZN/2023.02.03/AMAZON COM INC : Credit Suisse reaffirms its Buy rating.txt b/news/AMZN/2023.02.03/AMAZON COM INC : Credit Suisse reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..caf48bdb30672f499fe036c2f054dfb22fa97d51 --- /dev/null +++ b/news/AMZN/2023.02.03/AMAZON COM INC : Credit Suisse reaffirms its Buy rating.txt @@ -0,0 +1 @@ +Credit Suisse is positive on the stock with a Buy rating. The target price is lowered from USD 171 to USD 150. \ No newline at end of file diff --git a/news/AMZN/2023.02.03/AMAZON COM INC : Goldman Sachs reiterates its Buy rating.txt b/news/AMZN/2023.02.03/AMAZON COM INC : Goldman Sachs reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..c5cfbabc4fcebe230bc9d82187dab7ee6c4e3bd2 --- /dev/null +++ b/news/AMZN/2023.02.03/AMAZON COM INC : Goldman Sachs reiterates its Buy rating.txt @@ -0,0 +1 @@ +Goldman Sachs is positive on the stock with a Buy rating. The target price remains unchanged at USD 145. \ No newline at end of file diff --git a/news/AMZN/2023.02.03/AMAZON COM INC : JP Morgan reaffirms its Buy rating.txt b/news/AMZN/2023.02.03/AMAZON COM INC : JP Morgan reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..05c9b2116f1cb32fe7dd898b59cc7c97e843f622 --- /dev/null +++ b/news/AMZN/2023.02.03/AMAZON COM INC : JP Morgan reaffirms its Buy rating.txt @@ -0,0 +1 @@ +In a research note published by Douglas Anmuth, JP Morgan advises its customers to buy the stock. The target price has been raised from USD 130 to USD 142. \ No newline at end of file diff --git a/news/AMZN/2023.02.03/AMAZON COM INC : Jefferies gives a Buy rating.txt b/news/AMZN/2023.02.03/AMAZON COM INC : Jefferies gives a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..7e082c56d2cac59eb0e94f70001684de72195377 --- /dev/null +++ b/news/AMZN/2023.02.03/AMAZON COM INC : Jefferies gives a Buy rating.txt @@ -0,0 +1 @@ +Jefferies is positive on the stock with a Buy rating. The target price is still set at USD 125. \ No newline at end of file diff --git a/news/AMZN/2023.02.03/AMAZON COM INC : RBC reaffirms its Buy rating.txt b/news/AMZN/2023.02.03/AMAZON COM INC : RBC reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..2629f044e676efbcb4dc72bcf70cc447c1f69eff --- /dev/null +++ b/news/AMZN/2023.02.03/AMAZON COM INC : RBC reaffirms its Buy rating.txt @@ -0,0 +1 @@ +Brad Erickson from RBC retains his positive opinion on the stock with a Buy rating. The target price is unchanged and still at USD 135. \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt b/news/AMZN/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt new file mode 100644 index 0000000000000000000000000000000000000000..4c48bc046be011ad62cdf6382ec7199211d9ef99 --- /dev/null +++ b/news/AMZN/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt @@ -0,0 +1,8 @@ + +Sanofi, CaixaBank, Publicis, Apple, Alphabet, Amazon, Broadcom, VMWare, 3M Co, Brookfield Asset Management, Credit Suisse, Nordstrom, Ford, Beyond Meat, Kroger, Walmart, Costco Wholesale,  Starbucks, Coinbase, General Electric, Siemens Gamesa, Baidu and Tesla feature in this press review! + + + + + +  diff --git a/news/AMZN/2023.02.03/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt b/news/AMZN/2023.02.03/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt new file mode 100644 index 0000000000000000000000000000000000000000..79bd9a646c940f031a2c5fa717fc501a538d3c50 --- /dev/null +++ b/news/AMZN/2023.02.03/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt @@ -0,0 +1,73 @@ +*Asian stock markets: https://tmsnrt.rs/2zpUAr4*China shares fall, Japan's Nikkei up 0.3%*Sentiment hurt by weak earnings from U.S. tech giants*Sterling, euro falter after BOE, ECB signal pause*European yields sharply lower, Treasury flat ahead of +payrollsSYDNEY, Feb 3 (Reuters) - A global stock rally ran into +resistance in Asia on Friday as disappointing earnings from U.S. +tech giants undermined sentiment, while the dollar regained some +of its footing ahead of a key U.S. non-farm payrolls report.European markets are set to extend the caution, with +pan-region Euro Stoxx 50 futures down 0.1%, German DAX +futures falling 0.2%, and FTSE futures mostly +flat.Overnight, markets took a dovish view on rate guidance from +the European Central Bank and the Bank of England, hoping that +an end of the massive global tightening cycle is in sight, +pushing local bonds higher and the currencies lower.MSCI's broadest index of Asia-Pacific shares outside Japan +eased 0.6% on Friday, dragged down by a 1.3% +slump in Chinese blue-chips and a 1.4% tumble in Hong +Kong's Hang Seng index.Investors are waiting to see more tangible signs of an +economic recovery in China, after Beijing dropped nearly all of +its COVID curbs in December, sparking a surge in foreign +inflows.Other regional markets eked out modest gains. Japan's Nikkei +rose 0.3%, Australia's resources heavy shares +rallied 0.6% and South Korea's KOSPI climbed 0.5%.Disappointment over earnings results from Google, +Apple and Amazon tempered sentiment, with the +S&P 500 futures sliding 0.5% and Nasdaq futures +falling 1.5% on Friday.Tech shares took a beating in Thursday's after-hours +trading, with shares of Apple down 3.2%, Amazon down 5% and +Google parent Alphabet down 4.6%.Apple projected another revenue decline in the start of the +year, Amazon warned that its operating profit could fall to zero +in the current quarter, and Google parent Alphabet missed +expectations in its fourth-quarter profit and revenue.That took the shine off a strong regular trading session on +Thursday, when the S&P climbed 1.5% and the Nasdaq +surged 3.3%. The uptick built on strong gains from the +previous day after Federal Reserve Chair Jerome Powell said +disinflationary pressures are underway in the economy, raising +hopes that a pause to its monetary tightening streak is near.Investors are also watching the fallout from this week's +plunge in shares of India's Adani group, which continued to +nosedive on Friday with market losses amounting to $115 billion +in the wake of a U.S. short-seller's report.On Thursday, the European Central bank (ECB) and Bank of +England (BoE) hiked rates by 50 basis points each, with the BoE +saying the tide was turning against inflation and the ECB +indicating at least one more hike was on the horizon before +re-evaluating its rate hike path.Markets reacted by pushing European yields sharply lower, +with the 10-year German bunds falling 22.6 basis +points to 2.065%, the biggest drop since 2011, and Italian bonds +tumbling 40 bps to 3.887%, the most since 2020."The wash-up is that the BoE meeting was dovish, and the ECB +is now firmly open-minded and data-dependent, and the Fed chose +not to fight the market and the market feels validated by that," +said Chris Weston, head of research at Pepperstone.Alan Ruskin, macro strategist at Deutsche Bank, said that +given the current market price action ahead of the U.S. payrolls +data, a softer report would be regarded as endorsing all the +favourite trades of the year."Not least it would provide the most important evidence to +date to suggest that the market's rates pricing is more +appropriate than the Fed's own more hawkish signalling," said +Ruskin.Analysts expect 185,000 jobs were added last month, the +lowest since January 2021, unemployment edged up to 3.6%, and +hourly wage inflation to stay flat at 0.3% on a monthly basis, +suggesting the strong labour market might have started to ease +up.Futures markets still favour another 25-basis-point hike +from the Fed at its March policy meeting, while implying that +might be the end of its current tightening cycle. They have also +priced in one rate cut by the end of this year, a scenario +Powell dismissed.In the currency markets, the euro extended +losses to $1.0889, pulling further away from the ten-month top +of $1.1033 touched on Thursday.Sterling fell to $1.2213 on Friday, the lowest +in more than two weeks, after tumbling 1.2% the previous +session.That helped the U.S. dollar to recoup most of its +post-Fed losses, with the dollar index now standing at +101.85, away from its nine-month low of 100.80.Treasury yields held largely steady. The yield on +benchmark 10-year Treasury notes eased 2 basis +points to 3.3726%, while the two-year yield, which +rises with traders' expectations of higher Fed fund rates, was +mostly flat at 4.0918%.In the oil market, Brent crude futures reversed +earlier gains and slid 0.2% to $82.01 per barrel, while U.S. +West Texas Intermediate (WTI) crude was also down 0.2% at +$75.70.Gold was 0.2% higher. Spot gold was traded at +$1915.66 per ounce.(Editing by Shri Navaratnam and Kim Coghill) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Big Tech earnings face more heat as cloud cover fades.txt b/news/AMZN/2023.02.03/Big Tech earnings face more heat as cloud cover fades.txt new file mode 100644 index 0000000000000000000000000000000000000000..5a0a2b41b6892e16aefcf64c8a8d5a8026a13e12 --- /dev/null +++ b/news/AMZN/2023.02.03/Big Tech earnings face more heat as cloud cover fades.txt @@ -0,0 +1,46 @@ +Feb 3 (Reuters) - Big Tech results reinforced concerns a +boom in cloud services is easing, limiting a lucrative source of +profit when a slowing economy has hit the companies' other +businesses and prompting a bet on artificial intelligence as the +next growth driver.Earnings from Amazon.com Inc and Microsoft Corp +- which together dominate the cloud market - showed +growth in the business was at its lowest since they started +breaking out the metric in 2015 and was on track to slow +further.Alphabet Inc, which has the smallest cloud +business among the three, said Google Cloud grew 32%, the +slowest rise since the company began reporting the measure in +2019.The poor results reflect a shift to post-pandemic frugality +by corporate customers whose budgets have been squeezed in the +past year by high inflation and rising interest rates."Once thought as the most defensive revenue stream in tech, +we are seeing investors questioning the cyclicality for the +(cloud) business," analysts at Bernstein said.Cloud services had long been a reliable source of earnings +for Microsoft and Amazon.The Windows maker posted growth of around 50% in its Azure +cloud-computing business for each quarter of calendar 2020, when +the pandemic forced people to work and study at home. Meanwhile, +market leader Amazon Web Services (AWS) reported sales jump of +about 30% during the same period.Times, though, have changed.Growth at AWS slowed to a record low of 20% in the last +three months of 2022 to $21.4 billion, slightly missing +analysts' estimates of $22.03 billion, according to Refinitiv +data.Microsoft's revenue in its so-called intelligent cloud +business that includes Azure rose 18% to beat expectations for +October to December. But its current-quarter forecast of $21.7 +billion to $22 billion was below estimates of $22.14 billion."The deceleration in AWS was even worse than expected and +means Amazon can't rely on that business units' operating +profits as much in coming quarters," said Andrew Lipsman, +principal analyst at Insider Intelligence.Amazon finance chief Brian Olsavsky said on Thursday that +the company expects slower cloud growth rates for the next few +quarters. That echoed Microsoft, which said last week that +growth in its Azure cloud-computing business would slow by 4-5 +basis points in the March quarter."You've just come off two years of rapid movement of +workloads to the cloud, there's probably a lot of inefficiency +in cloud spending and now there is a shifting focus to greater +efficiency," said James Cordwell, analyst at Atlantic Equities.AI SILVER LININGA potential boom in AI after the viral success of OpenAI's +ChatGPT could boost demand for cloud services again though, +analysts said. AI applications require massive computing power, +a boon for companies whose services help run the technology.As an investor and partner of OpenAI, Microsoft looks well +poised, analysts said, but any gains may take time to translate +into profits."Those (AI) advancements and demand for related cloud +services will take time to materialize. They're not likely to +offset current headwinds in the enterprise market over the next +few quarters," Lipsman said.(Reporting by Aditya Soni, Yuvraj Malik, Akash Sriram and +Tiyashi Datta in Bengaluru; Editing by Sriraj Kalluvila) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/BlackRock sustainability chief Bodnar to join Bezos Earth Fund - memo.txt b/news/AMZN/2023.02.03/BlackRock sustainability chief Bodnar to join Bezos Earth Fund - memo.txt new file mode 100644 index 0000000000000000000000000000000000000000..0413e278f4edbe655864634e70b5724d04fd66e9 --- /dev/null +++ b/news/AMZN/2023.02.03/BlackRock sustainability chief Bodnar to join Bezos Earth Fund - memo.txt @@ -0,0 +1,20 @@ +*To leave BlackRock in April after two years*Will join $10 billion Bezos Earth Fund*Bodnar was previously global head of sustainable investingLONDON, Feb 3 (Reuters) - Paul Bodnar, the head of +sustainability policy and engagement at BlackRock, the +world's biggest asset manager, is to join tech mogul Jeff Bezos' +$10 billion Bezos Earth Fund, a memo to staff on Friday reviewed +by Reuters shows.The April move will mark the end of a two-year stint at the +company for Bodnar, who was previously global head of BlackRock +Sustainable Investing. He took up his most recent role during a +reorganisation of BlackRock's sustainability efforts in October.It follows a tough time for the company as it faces pressure +from campaigners to push for faster climate action by companies, +and concern from some U.S. politicians that doing so could +impact investor returns.The memo said BlackRock assets invested through its +dedicated sustainable investing platform now stood at around +$500 billion of its total of roughly $8.6 trillion in assets, +and Bodnar had been "central to that success"."Paul approached us recently with a plan to return to his +career path in the impact world, and today it will be announced +that he will be joining the Bezos Earth Fund to oversee programs +that involve collaboration among financial services, the real +economy and governments," the memo said. +(Reporting by Simon Jessop +Editing by Mark Potter) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Brave Bison buys Social Chain as expects 30% annual revenue growth .txt b/news/AMZN/2023.02.03/Brave Bison buys Social Chain as expects 30% annual revenue growth .txt new file mode 100644 index 0000000000000000000000000000000000000000..2b4c7a408e56993ad7b02ff8b97fa6f113b39d1c --- /dev/null +++ b/news/AMZN/2023.02.03/Brave Bison buys Social Chain as expects 30% annual revenue growth .txt @@ -0,0 +1 @@ +(Alliance News) - Brave Bison Group PLC on Friday said it will buy Social Chain Ltd for GBP7.7 million. Social Chain is a Manchester-based social media and influencer marketing agency, founded in 2014 by Steven Bartlett. Bartlett is known for being an investor on the BBC reality television business show Dragons' Den.It is a non-core division of Berlin-based Social Chain AG, a German e-commerce firm.Brave Bison, a London-based social and digital media company, expects the acquisition to improve its advertising revenue from social media seven-fold to GBP15 million, and an annual boost to 2023 revenue by over GBP40 million. It anticipates that Social Chain will report a revenue of GBP13.8 million and an adjusted earnings before interest, tax, depreciation and amortisation loss of GBP100,000 in 2022."The acquisition will bring access to new, global customers, including Amazon, TikTok, Arla, KFC and Apple Beats. On a combined basis for the Enlarged Brave Bison, no single customer will represent more than 8% of net revenue, and the top 10 customers will represent less than 50% of net revenue," Brave Bison said.On top of the GBP7.7 million Brave Bison pays initially, it will pay up to GBP9.5 million over three years following the acquisition, under Ebitda-based stretch performance targets.Meanwhile, Brave Bison announced a vendor placing to raise GBP4.8 million, which will represent about 16% of the firm's enlarged share capital on admission. Brothers Oliver Green, executive chair, and Theo Green, chief growth officer, have subscribed to GBP100,000 worth of placing shares, retaining a 19% stake in Brave Bison. Looking ahead, Brave Bison said it expects to meet current market expectations for 2022, anticipating a 30% annual revenue growth. Brave Bison shares rose 1.0% to 2.68 pence each on Friday morning in London.By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Dollar perks up as traders await U.S. jobs numbers.txt b/news/AMZN/2023.02.03/Dollar perks up as traders await U.S. jobs numbers.txt new file mode 100644 index 0000000000000000000000000000000000000000..575b313226e6e59c9ba9d85314939a812af2fed5 --- /dev/null +++ b/news/AMZN/2023.02.03/Dollar perks up as traders await U.S. jobs numbers.txt @@ -0,0 +1,36 @@ +LONDON, Feb 3 (Reuters) - The dollar rose slightly on +Friday, sustaining some momentum after jumping in the previous +session following a raft of central bank decisions in Europe.Trading was relatively subdued as markets waited for the +latest U.S. employment data later in the day which may shift +U.S. Federal Reserve policy.The dollar picked up against the euro, with the latter +down 0.1% to $1.09 in early European trading. The euro +remained well above the 20-year low of $0.953 hit in September, +however.The Federal Open Market Committee on Wednesday raised +interest rates by 25 basis points to a range of 4.5% to 4.75%, a +softer approach than the previous increase of 50 bps.The slowdown in the pace and comments from the central bank +helped send the dollar tumbling as traders hoped rate hikes +might soon end altogether.It then rallied sharply on Thursday when the European +Central Bank raised rates by 50 bps to 2.5%, but suggested that +it could be finished after another increase in March, causing +the euro to tumble."Essentially we have retraced everything before the +(Fed)meeting," said Alvin Tan, head of Asia FX strategy at RBC +Capital Markets.He said relatively weak earnings reports by tech giants +Alphabet, Apple and Amazon were +causing "a bit of a risk-off mood" in markets that was likely +boosting the dollar on Friday.The dollar index, which tracks the currency against +major peers, was up 0.1% to 101.89.Japan's yen was slightly higher against the +dollar, however, at 128.66 per dollar.The big event for markets on Friday is the release of U.S. +employment - or nonfarm payroll - numbers at 8.30 a.m. ET .Analysts polled by Reuters expect the U.S. economy to have +added 185,000 jobs in January, a strong showing but down from +223,000 in December. Wages data is also due.The pound was down 0.18% on Friday to $1.22, after +tumbling 1.2% on Thursday when the Bank of England raised +interest rates but stressed that inflation was showing signs of +relenting.The Australian dollar was 0.35% lower at $0.705. +Meanwhile, the U.S. dollar was up 0.35% against its Canadian +counterpart at C$1.336.Tan said he thinks the U.S. dollar should remain under +pressure in the coming weeks, given that the Fed is the central +bank closest to pausing interest rate hikes."I think that the path of least resistance in the next +quarter... is still for dollar weakness, unless we get a big +risk-off fright," he said.(Reporting by Harry Robertson; Additional reporting by Rae Wee; +Editing by Lincoln Feast, Simon Cameron-Moore and Emelia +Sithole-Matarise) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/European shares hit by weak earnings from U.S. tech giants.txt b/news/AMZN/2023.02.03/European shares hit by weak earnings from U.S. tech giants.txt new file mode 100644 index 0000000000000000000000000000000000000000..8ff6648b4cd247171040c435ed58ce76c100eacf --- /dev/null +++ b/news/AMZN/2023.02.03/European shares hit by weak earnings from U.S. tech giants.txt @@ -0,0 +1 @@ +The pan-European STOXX 600 was down 0.5% as of 0812 GMT.However, the benchmark index was on track for weekly gains, thanks to a strong increase on Thursday as the European Central Bank's (ECB) hawkish message failed to derail investor hopes of the global rate hiking cycle nearing an end.The technology sector index fell 0.6%, led by a near 2% drop in Apple supplier Infineon, while real estate stocks were down 1.5%.Frankfurt-listed shares of U.S. tech giants Amazon.com, Apple Inc and Alphabet Inc slid between 5% and 6% on disappointing earnings.Among others, French drugmaker Sanofi fell 4.7% after forecasting moderate 2023 earnings growth as strong demand for its bestselling drug, Dupixent, would be partly offset by generic competition for its multiple sclerosis pill, Aubagio.Dutch navigation and digital mapping company TomTom jumped 9.4% after raising its 2023 guidance following better-than-expected fourth-quarter revenue. (Reporting by Ankika Biswas in Bengaluru; Editing by Savio D'Souza) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Exclusive-BlackRock sustainability chief Bodnar to join Bezos Earth Fund - me...txt b/news/AMZN/2023.02.03/Exclusive-BlackRock sustainability chief Bodnar to join Bezos Earth Fund - me...txt new file mode 100644 index 0000000000000000000000000000000000000000..20b0dc60f2f7d90b625f20c61efab5c0581809d4 --- /dev/null +++ b/news/AMZN/2023.02.03/Exclusive-BlackRock sustainability chief Bodnar to join Bezos Earth Fund - me...txt @@ -0,0 +1 @@ +The April move will mark the end of a two-year stint at the company for Bodnar, who was previously global head of BlackRock Sustainable Investing. He took up his most recent role during a reorganisation of BlackRock's sustainability efforts in October.It follows a tough time for the company as it faces pressure from campaigners to push for faster climate action by companies, and concern from some U.S. politicians that doing so could impact investor returns. The memo said BlackRock assets invested through its dedicated sustainable investing platform now stood at around $500 billion of its total of roughly $8.6 trillion in assets, and Bodnar had been "central to that success". "Paul approached us recently with a plan to return to his career path in the impact world, and today it will be announced that he will be joining the Bezos Earth Fund to oversee programs that involve collaboration among financial services, the real economy and governments," the memo said. (Reporting by Simon Jessop; Editing by Mark Potter)By Simon Jessop \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Futures fall as megacaps slide on downbeat earnings.txt b/news/AMZN/2023.02.03/Futures fall as megacaps slide on downbeat earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..3033411cdffb68a5c6aa4d1ed0b10ce50bcbfe35 --- /dev/null +++ b/news/AMZN/2023.02.03/Futures fall as megacaps slide on downbeat earnings.txt @@ -0,0 +1 @@ +Shares of Wall Street heavyweights Apple, Amazon Inc and Alphabet Inc declined between 3.5% and 6% in premarket trading. Apple forecast another revenue decline at the start of the year, Amazon warned that its operating profit could fall to zero in the current quarter, and Google parent Alphabet missed Wall Street estimates for fourth-quarter results.The results looked set to snap the rally in U.S. equities in the previous session after Fed Chair Jerome Powell in his remarks after the Wednesday policy meeting referred repeatedly to the "disinflationary" process being underway.Both the Nasdaq and the S&P 500 posted strong gains on Thursday and touched near five-month highs, while the Dow slipped, dragged down by declines in some big healthcare stocks.Investors will closely monitor Labor Department's numbers for January nonfarm payrolls, due at 8:30 a.m. ET. The economy is expected to have added 185,000 jobs, fewer than the 223,000 additions in December. The unemployment rate is expected to tick higher to 3.6% in January, from 3.5% in December. The unemployment rate is expected to tick higher to 3.6% in Janaury, from 3.5% in December.U.S. stocks made a strong start in 2023 after a dismal 2022, with battered technology and related stocks leading the rebound on hopes that the Fed will temper its aggressive rate hikes, in turn alleviating some pressure on equity valuations. At 4:40 a.m. ET, Dow e-minis were down 81 points, or 0.24%, S&P 500 e-minis were down 29.25 points, or 0.7%, and Nasdaq 100 e-minis were down 181.5 points, or 1.41%. (Reporting by Shubham Batra; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Spanish Court : Amazon violated labor law with delivery app.txt b/news/AMZN/2023.02.03/Spanish Court : Amazon violated labor law with delivery app.txt new file mode 100644 index 0000000000000000000000000000000000000000..caa628365afc3b9e4fe053050a6e296ceaafe800 --- /dev/null +++ b/news/AMZN/2023.02.03/Spanish Court : Amazon violated labor law with delivery app.txt @@ -0,0 +1 @@ +MADRID (AP) — A Spanish court has ruled that Amazon broke labor laws by forcing more than 2,000 delivery drivers to use an app that the company controlled for scheduling work and payments and requiring them to use their own cars and cellphones on the job.Amazon could not treat workers using its Flex app as self-employed because the e-commerce giant's Spanish subsidiary “assumes the authority to make all decisions regarding the service, setting the conditions of execution and remuneration, and the circumstances of the day, time and duration” of labor, according to the Madrid labor court's decision released Friday.Amazon stopped using the Flex app in Spain in 2021.Friday's ruling is the result of a lawsuit brought by Spain’s social security body following a 2019 labor inspection at an Amazon facility. The government agency is seeking to recoup payments that it says Amazon should have made on behalf of the drivers.Amazon has long argued that Flex was an intermediary platform between freelance delivery workers and clients in Spain, rather than a delivery service in its own right.“We respect the court ruling, but we disagree and will be filing an appeal,” the company said in a statement, adding that it worked with a range of delivery companies.“Between 2018 and 2021, we also collaborated with some freelancers through the Amazon Flex program, which accounted for a small percentage of packages delivered in Spain," it added.The court decision is the latest in a series of legal measures in Spain that are designed to stop e-commerce and delivery app companies from designating workers as self-employed when they have little control over their hours and earnings.Spain’s socialist coalition government in 2021 passed the “Riders Law,” which classified food delivery riders as employees of the digital platforms they work for.“This is another step forward for jurisprudence as a corrective mechanism for new ways of working” using apps, said Spain’s UGT union, which backed the lawsuit.The ruling referenced a Spanish Supreme Court decision from 2020, which found that Barcelona-based food delivery app Glovo was illegally treating “riders” as self-employed.Spain’s labor ministry fined Glovo 57 million euros ($62 million) last month for violating the same labor laws. The company has since signed a deal with the Madrid regional government to deliver food to vulnerable people in the city.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Spanish court rules Amazon 'Flex' couriers were falsely self-employed.txt b/news/AMZN/2023.02.03/Spanish court rules Amazon 'Flex' couriers were falsely self-employed.txt new file mode 100644 index 0000000000000000000000000000000000000000..6e6f484d5b44c93f171b4df69f4e4de9b713a373 --- /dev/null +++ b/news/AMZN/2023.02.03/Spanish court rules Amazon 'Flex' couriers were falsely self-employed.txt @@ -0,0 +1 @@ +The Madrid labour court said in Thursday's ruling the tech giant would have to pay Social Security contributions for the 2,166 people it hired under the guise of external contractors within the now-defunct "Amazon Flex" scheme and recognise them as regular staff during the periods they made deliveries.It did not provide the total to be paid.Amazon scrapped the Flex programme in Spain last year, after a 2020 Supreme Court ruling forced companies to hire freelance couriers as staff and the government introduced a pioneering law to the same effect in 2021."Amazon is a company that is not only a logistics and transport operator, but also a courier and messenger service provider," the judge said. The company has repeatedly argued that it is not in the transportation business. It did not immediately respond to a request for comment on the ruling, which is subject to appeal. According to the court, Amazon made all decisions related to the service - including schedules, geographic distribution and remuneration - and used an app to direct and coordinate the couriers, who "lacked their own and autonomous business organisation"."This ruling is one of dozens that ratify that the gig-economy model used by digital platforms is a massive fraud," Ruben Ranz, a spokesperson for trade union UGT, told Reuters on Friday."We're happy with the result and especially happy that this Amazon Flex model no longer exists," Ranz added. (Reporting by David Latona, Emma Pinedo and Inti Landauro; Editing by Andrei Khalip and Frances Kerry) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Stocks stumble, U.S. bond yields jump on strong jobs report.txt b/news/AMZN/2023.02.03/Stocks stumble, U.S. bond yields jump on strong jobs report.txt new file mode 100644 index 0000000000000000000000000000000000000000..f9bdcd559dc3e7658ac30c1e53ee9805a6a6d3fe --- /dev/null +++ b/news/AMZN/2023.02.03/Stocks stumble, U.S. bond yields jump on strong jobs report.txt @@ -0,0 +1,57 @@ +*Jan U.S. payrolls 517k vs 185k estimate*Dollar bounces off 9-month lows*Amazon, Alphabet lower after earningsNEW YORK, Feb 3 (Reuters) - A gauge of global stocks +dropped more than 1%, while U.S. Treasury yields and the dollar +shot higher on Friday after a shockingly strong U.S. jobs report +renewed concerns the Federal Reserve may stay aggressive in its +interest rate hike path as it tries to tame inflation.The report from the Labor Department showed nonfarm payrolls +surged by 517,000 jobs in January, well above the 185,000 +estimate of economists polled by Reuters, with data for December +also being revised higher. Average hourly earnings increased +0.3%, as expected, down from the 0.4% in the prior month, while +the unemployment rate of 3.4% was the lowest since 1969.Equities have rallied to start the year on expectations the +Fed may be forced to pause or even pivot from its rate hikes in +the back half of the year, growing more confident after comments +from Fed Chair Powell on Wednesday that acknowledged the +"disinflationary" process may have begun. Additional fuel was +added after policy announcements by the European Central Bank +(ECB) and Bank of England (BoE) on Thursday."This make the Fed's job more difficult. Their dependence on +the data yet to come has increased, no doubt," said Russell +Price, chief economist at Ameriprise Financial in Troy, +Michigan."They’re concentrating on the labor market right now, they +want to see labor cost inflation under control, and this report +does not suggest that labor cost inflation in particular is +going to improve significantly anytime soon."Interest rate futures now indicate the Fed is likely to +deliver at least two more rate hikes, taking the benchmark rate +to above 5%.U.S. stocks opened lower after the report, with additional +downward pressure being supplied by a 2.83% decline in Google +parent Alphabet and a 7.70% drop in Amazon after their +quarterly results.Apple, however, helped prevent further declines, as the +stock erased losses in premarket trading to trade 2.74% higher +following its quarterly earnings.Earnings are now expected to decline 2.7% for the quarter +from the year-ago period, according to Refinitiv data, down from +the 1.6% fall expected at the start of the year.Other data showed the U.S. services industry rebounded +strongly in January, according to the Institute for Supply +Management (ISM).The Dow Jones Industrial Average fell 167.55 points, +or 0.49%, to 33,886.39; the S&P 500 lost 44.72 points, or +1.07%, to 4,135.04; and the Nasdaq Composite dropped +176.41 points, or 1.45%, to 12,024.41.Even with Friday's declines, both the S&P 500 and Nasdaq +were on track for weekly gains. The Nasdaq was poised for a +fifth straight week of gains, it's longest since +October-November 2021.European stocks closed modestly higher, erasing earlier +declines on optimism over the region's economy. The pan-European +STOXX 600 index rose 0.34% but MSCI's gauge of stocks +across the globe shed 1.08%. The STOXX index +closed with a 1.23% gain on the week for its highest closing +level since April 21. MSCI's index was on track for a second +straight weekly advance even with Friday's tumble.U.S. Treasury yields climbed after the payrolls report, with +those on the benchmark 10-year note up 13.2 basis +points to 3.530%, from 3.398% late on Thursday, poised for their +biggest one-day jump since Oct. 19.The greenback strengthened in the wake of the data, climbing +off a nine-month low hit on Thursday to 109.92, its highest +since January 12, with the dollar index rose 1.071% and +the euro down 0.93% to $1.0808.The Japanese yen weakened 1.88% to 131.11 per dollar, +while Sterling was last trading at $1.2058, down 1.35% on +the day.Crude prices turned lower in part due to strength in the +dollar and concerns about higher interest rates, with Brent and +WTI poised for weekly declines of about 7%.U.S. crude fell 3.15% to $73.49 per barrel and Brent +was at $79.92, down 2.74% on the day.(Reporting by Chuck Mikolajczak; additional reporting by +Herbert Lash; Editing by Kirsten Donovan and Jonathan Oatis) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Stocks tumble, U.S. bond yields rise on strong jobs report.txt b/news/AMZN/2023.02.03/Stocks tumble, U.S. bond yields rise on strong jobs report.txt new file mode 100644 index 0000000000000000000000000000000000000000..6b5da91e8c5ed6fe91634d3d9775c78aef314dad --- /dev/null +++ b/news/AMZN/2023.02.03/Stocks tumble, U.S. bond yields rise on strong jobs report.txt @@ -0,0 +1,56 @@ +*Jan U.S. payrolls 517k vs 185k estimate*Dollar bounces off 9-month lows*Amazon, Alphabet lower after earningsNEW YORK, Feb 3 (Reuters) - A gauge of global stocks +dropped more than 1%, while U.S. Treasury yields and the dollar +rose on Friday after a shockingly strong U.S. jobs report +renewed concerns the Federal Reserve may remain aggressive in +its path of interest rate hikes as it tries to tame inflation.The report from the Labor Department showed nonfarm payrolls +surged by 517,000 jobs in January, well above the 185,000 +estimate of economists polled by Reuters, with data for December +also being revised higher. Average hourly earnings increased +0.3%, as expected, down from the 0.4% in the prior month, while +the unemployment rate of 3.4% was the lowest since 1969.Equities have rallied to start the year on expectations the +Fed may be forced to pause or even pivot from its rate hikes in +the back half of the year, growing more confident after comments +from Fed Chair Powell on Wednesday that acknowledged the +"disinflationary" process may have begun. Additional fuel was +added after policy announcements by the European Central Bank +(ECB) and Bank of England (BoE) on Thursday."While it is very helpful to see the jobs increasing, it is +really a horse race between that ongoing income and how quickly +inflation comes down," said Lisa Erickson, head of public +markets group at U.S. Bank Wealth Management in Minneapolis, +Minnesota."The Fed really is in a tough place trying to navigate +between keeping those price pressures down and not causing too +much economic pain."Interest rate futures now indicate the Fed is likely to +deliver at least two more rate hikes, taking the benchmark rate +to above 5%.U.S. stocks closed lower, with additional downward pressure +being supplied by a 2.75% decline in Google parent Alphabet +and an 8.43% drop in Amazon after their +quarterly results.Apple, however, helped prevent further declines, as +the stock erased losses in premarket trading to close 2.44% +higher following its quarterly earnings.Earnings are now expected to decline 2.7% for the quarter +from the year-ago period, according to Refinitiv data, down from +the 1.6% fall expected at the start of the year.Other data showed the U.S. services industry rebounded +strongly in January, according to the Institute for Supply +Management (ISM).The Dow Jones Industrial Average fell 127.93 points, +or 0.38%, to 33,926.01; the S&P 500 lost 43.28 points, or +1.04%, to 4,136.48; and the Nasdaq Composite dropped +193.86 points, or 1.59%, to 12,006.96.Even with Friday's declines, both the S&P 500 and Nasdaq +notched weekly gains, with the Nasdaq securing a fifth straight +week of gains, its longest since October-November 2021.European stocks closed modestly higher, erasing earlier +declines on optimism over the region's economy. The pan-European +STOXX 600 index rose 0.34%, but MSCI's gauge of stocks +across the globe shed 1.08%. The STOXX index +closed with a 1.23% gain on the week, its highest closing level +since April 21. MSCI's index was on track for a second straight +weekly advance even with Friday's tumble.U.S. Treasury yields climbed after the payrolls report, with +those on the benchmark 10-year note up 13 basis +points to 3.528%, from 3.398% late on Thursday, poised for their +biggest one-day jump since Oct. 19.The greenback strengthened in the wake of the data, climbing +off a nine-month on Thursday to hit 103.01, its highest since +Jan. 12, as the dollar index rose 1.149% and the euro +was down 1.02% to $1.0799.The Japanese yen weakened 1.90% to 131.18 per dollar, +while Sterling was last trading at $1.2053, down 1.39% on +the day.Crude prices turned lower in part due to strength in the +dollar and concerns about higher interest rates, with Brent and +WTI both dropping nearly 8% on the week.U.S. crude settled down 3.28% at $73.39 per barrel +and Brent settled at $79.94, down 2.71% on the day.(Reporting by Chuck Mikolajczak; additional reporting by +Herbert Lash; Editing by Kirsten Donovan and Jonathan Oatis) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/TSX futures flat as commodity prices slip, U.S. jobs awaited.txt b/news/AMZN/2023.02.03/TSX futures flat as commodity prices slip, U.S. jobs awaited.txt new file mode 100644 index 0000000000000000000000000000000000000000..3e8f5d4ad29666167f91becadb28650bb623204a --- /dev/null +++ b/news/AMZN/2023.02.03/TSX futures flat as commodity prices slip, U.S. jobs awaited.txt @@ -0,0 +1 @@ +Futures on the S&P/TSX index were flat at 6:44 a.m. ET (1144 GMT) after the benchmark closed lower on Thursday, weighed down by losses in commodity-linked stocks.Investors would be looking for U.S. jobs data due at 8:30 a.m. ET, a key metric in gauging where the Fed stands on future rate increases, having hiked its lending rate by an expected 25 basis points on Wednesday.U.S. futures pointed to a lower opening on Wall Street, with disappointing quarterly results from megacap growth companies including Apple Inc, Amazon.com Inc and Alphabet Inc dampening sentiment. [.N]Oil prices eased, with major oil benchmarks headed for their second consecutive week of losses, as the market awaited further signs of fuel demand recovery in China to offset looming slumps in other major economies. [O/R]Gold steadied in a tight range as cautious investors took stock of a host of central bank statements and positioned themselves for the key U.S. nonfarm payrolls report. [GOL/]Materials and energy companies have a combined weightage of about 31% on the main index.In earnings, methanol producer Methanex reported better-than-expected quarterly results overnight.Software company OpenText Corp also reported its quarterly numbers, beating expectations on both revenue and earnings.On the research front, CIBC cut software company Lightspeed Commerce's rating to "neutral" from "outperformer". (Reporting by Shashwat Chauhan in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Tech giants call time on stocks rally, U.S. payrolls loom.txt b/news/AMZN/2023.02.03/Tech giants call time on stocks rally, U.S. payrolls loom.txt new file mode 100644 index 0000000000000000000000000000000000000000..5b743d43457793e389c23a97c924801105d9da78 --- /dev/null +++ b/news/AMZN/2023.02.03/Tech giants call time on stocks rally, U.S. payrolls loom.txt @@ -0,0 +1,56 @@ +*China shares fall, Japan's Nikkei up 0.3%*Sentiment hurt by weak earnings from U.S. tech giants*Sterling, euro falter after BOE, ECB decisions*U.S. payrolls data coming upLONDON/SYDNEY, Feb 3 (Reuters) - A global stock rally, +powered by hopes of central banks ending aggressive rate rises, +ran into roadblocks on Friday following weak earnings from U.S. +tech giants and as key U.S. jobs data loomed.The MSCI World Stock Index slipped 0.2%, but +was still near its highest since last August following a sharp +rebound in recent weeks on hopes that central bank rate hikes +are nearing an end.Wall Street stock futures fell sharply, with contracts +on the tech-heavy Nasdaq 100 2% lower, on disappointing +earnings from Google, Apple and Amazon +. S&P 500 futures slid 0.9%.Investors are also watching the fallout from this week's +plunge in shares of India's Adani group, which continued to +nosedive on Friday with market losses amounting to $115 billion +in the wake of a U.S. short-seller's report.In Europe, the Stoxx 600 share benchmark fell 0.6%. +Germany's benchmark 10-year bond yield inched 2 +basis points (bps) higher to 2.097%, having on Thursday dropped +by the most since 2011 as the price of the debt rallied.This week, the U.S. Federal Reserve, the European +Central bank (ECB) and Bank of England (BoE) all increased +benchmark borrowing costs and warned of more hikes to come.Markets initially shrugged off the hawkishness, however, +and clungto a statementby Fed chair Jay Powell on Wednesday that the United States +was in the early stages of "disinflation."The mood turned much more cautious on Thursday, however, +as U.S. tech sharestook a beating in U.S. after-hours trading.Apple projected another revenue decline in the start of the +year, Amazon warned that its operating profit could fall to zero +in the current quarter, and Google parent Alphabet missed +expectations in its fourth-quarter profit and revenue.The keenly watched U.S. non-farm payrolls report, due +out later on Friday, could now be crucial to supporting the +recent rally."If we are seeing an easing of net job creation that +would allow the Fed to just do one more rate hike of 25 basis +points and that would be the end of the cycle," said Willem +Sels, global chief investment officer at HSBC's private bank."We will see headwinds from further earnings downgrades, +but we have incorporated quite a lot [of this] already so I +think markets can hold here if we are indeed right on the Fed."U.S. job growth likely remained strong in January, with +economists polled by Reuters expecting185,000 new jobs were created last month.Hourly wages are predicted to have risen by 0.3% from +the month before, although the unemployment rate is also +forecast to have ticked up to 3.6% from 3.5%, which may give the +Fed comfort that wage inflation could decline.Alan Ruskin, macro strategist at Deutsche Bank, said that +given the current market price action ahead of the U.S. payrolls +data, a softer report would be regarded as endorsing all the +favourite trades of the year."Not least it would provide the most important evidence to +date to suggest that the market's rates pricing is more +appropriate than the Fed's own more hawkish signalling," Ruskin +said.Futures markets favour another 25 bp hike from the Fed in +March and imply that might be the end of its current tightening +cycle. They have also priced in two rate cuts by the end of this +year, a scenario Powell dismissed.In currency markets, the euro extended losses +to $1.0888, pulling further away from Thursday's 10-month top of +$1.1033.Sterling fell to $1.2185 on Friday, the lowest +in more than two weeks, after tumbling 1.2% the previous +session.That helped the U.S. dollar to recoup most of its +post-Fed losses, with the dollar index now standing at +101.94, away from its nine-month low of 100.80.Treasury yields held largely steady. Ten-year Treasury +yield were flat at 3.96%, while the two-year yield +, which rises with traders' expectations of higher Fed +fund rates, rose 2 bps to 4.106%.In the oil market, Brent crude futures reversed +earlier gains and slid 0.6% to $81.58 per barrel, while U.S. +West Texas Intermediate (WTI) crude was also down 0.6% at +$75.28.(Editing by Dhara Ranasinghe and Toby Chopra) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Tech trillion club's wobble in four charts.txt b/news/AMZN/2023.02.03/Tech trillion club's wobble in four charts.txt new file mode 100644 index 0000000000000000000000000000000000000000..cfb9c1b54496f1d5c4c3b9dea775133f50e49813 --- /dev/null +++ b/news/AMZN/2023.02.03/Tech trillion club's wobble in four charts.txt @@ -0,0 +1 @@ +The tech industry has already laid off thousands of employees in an effort to cut costs as they brace for an impending slowdown.The following graphics highlight the companies' shaky performance in key areas: WEAK IPHONE SALESThe world's largest publicly traded company's quarterly profit missed Wall Street expectations for the first time since 2016 as it struggled with disruptions to iPhone production in China."Apple's results are consistent with the broader technology-sector challenges, with a difficult macroeconomic environment slowing sales for digital advertising, e-commerce, and (as reflected by Apple's performance) consumer electronics," said D.A Davidson analyst Thomas Forte.Apple's iPhone sales fall for the first time since 2020 https://www.reuters.com/graphics/APPLE-RESULTS/lbpggbbkbpq/chart.png DIGITAL ADVERTISING SLUMPThe parent company of digital advertising giant Google also missed earnings expectations as businesses dialed back spending on fears of a possible recession."If a dominant ad player like Google can get hit like this, it is now officially a tough ad market," said Rosenblatt Securities analyst Barton Crockett.Google's ad sales growth in the last 2 years https://www.reuters.com/graphics/GOOGLE-ADVERTISING/egpbyaobavq/chart_eikon.jpg SLOW CLOUD GROWTHAmazon's revenue beat for the holiday quarter was largely overshadowed by a warning from the e-commerce giant that its lucrative cloud business was set for slower growth in the next few quarters."This year is likely to be a difficult year for AWS growth. One of the key advantages of AWS - that it is easy to flex spending upwards - is also one of its key disadvantages when the economy slows down," said Atlantic Equities analyst James Cordwell.Amazon's cloud growth in the last two years https://www.reuters.com/graphics/AMAZON-AWS/gdvzqdmbopw/chart.png POST-EARNINGS STOCK REACTIONShares of the three companies - all of which have market valuations of more than a trillion dollars - were down between 2.2% and 4.5%. The stock slump also dragged the wider market lower. Here is how the stocks have reacted after every quarterly earnings report in 2022:Big tech stock reaction after quarterly results over the pastyear https://www.reuters.com/graphics/USA-STOCKS/BIGTECH/lbpggblyrpq/chart.png (Reporting by Akash Sriram, Tiyashi Datta and Eva Mathews in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/The morning after the night before.txt b/news/AMZN/2023.02.03/The morning after the night before.txt new file mode 100644 index 0000000000000000000000000000000000000000..339bfafd1fa2ad1ac255a8520d30fc24538f9cbc --- /dev/null +++ b/news/AMZN/2023.02.03/The morning after the night before.txt @@ -0,0 +1 @@ +After the central bank triple-header (that's the Fed, ECB and BoE) buoyed risk appetite and emboldened investor hopes of the end of the massive global tightening cycle came the Big Tech triple-header to revive worries over global economic conditions. Dour fourth-quarter results from Apple, Google-parent Alphabet and Amazon are likely to cast a shadow on the markets on Friday before the crucial non-farms payroll data is released later in the day. Analysts expect 185,000 jobs were added last month and the report will likely paint a clearer picture of the labour market in the United States. With the market facing up to the reality of the economic downturn, Asian stocks eased with MSCI's broadest index of Asia-Pacific shares outside Japan 0.7% lower and set to end the week in the red after five consecutive weekly gains. The dollar firmed, while gold steadied. Meanwhile, Adani Group shares continue to bleed with market losses now over $115 billion (for the seven listed Adani firms)in the wake of a scathing report from U.S short-seller Hindenburg that came out on Jan. 24. The meltdown in share prices have stoked fears of wider impact on the Indian equities. A bright spot for the market was a private sector survey that showed China's services activity in January expanded for the first time in five months, sending business confidence to near 12-year highs.Even amidst the dire earnings reports from U.S. bellwethers there was a hint of hope that consumer spending was beginning to rebound in China. Key developments that could influence markets on Friday: Economic events: Euro zone, UK, Germany S&P Global business surveys, U.S. non-farm payrolls data Speakers, ECB's Christine Lagarde and BoE's Huw Pill to talk in separate events (Reporting by Ankur Banerjee; Editing by Jacqueline Wong) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/U.S. FTC prepares potential antitrust lawsuit against Amazon - WSJ.txt b/news/AMZN/2023.02.03/U.S. FTC prepares potential antitrust lawsuit against Amazon - WSJ.txt new file mode 100644 index 0000000000000000000000000000000000000000..0fb697ed1180d71f3dcdecc8d8358774f8e09c84 --- /dev/null +++ b/news/AMZN/2023.02.03/U.S. FTC prepares potential antitrust lawsuit against Amazon - WSJ.txt @@ -0,0 +1 @@ +It could not be determined exactly which aspects of Amazon's businesses the FTC would target and the timing of any case remains in flux, according to the report. Amazon did not immediately respond to a Reuters request for comment, while FTC declined to comment. The FTC has been scrutinizing the bundling practices of the company's Prime subscription service, the Journal also reported. Amazon in December reached a settlement with the European Union in three antitrust probes after it addressed the EU's concerns over its use of sellers' data, saving it from a fine of up to 10% of its global turnover. (Reporting by Eva Mathews in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/U.S. antitrust agency preparing lawsuit against Amazon - WSJ.txt b/news/AMZN/2023.02.03/U.S. antitrust agency preparing lawsuit against Amazon - WSJ.txt new file mode 100644 index 0000000000000000000000000000000000000000..eec4c1f729768df81fdd7627d70dcf8d9deecda1 --- /dev/null +++ b/news/AMZN/2023.02.03/U.S. antitrust agency preparing lawsuit against Amazon - WSJ.txt @@ -0,0 +1,27 @@ +Feb 3 (Reuters) - The U.S. Federal Trade Commission is +preparing a possible antitrust lawsuit against e-commerce giant +Amazon.com Inc, the Wall Street Journal reported on +Friday, citing people familiar with the matter.It could not be determined exactly which aspects of Amazon's +businesses the FTC would target and the timing of any case was +uncertain, according to the report.Amazon and the FTC declined to comment.The commission began probing Amazon during the Trump +administration. The company has been criticized for allegedly +favoring its own products and disfavoring outside sellers on its +platform.The FTC has been scrutinizing the bundling practices of the +company's Prime subscription service, the WSJ also reported.Amazon in December reached a settlement with the European +Union in three antitrust probes after it addressed the EU's +concerns over use of sellers' data, saving the company from a +fine of up to 10% of its global turnover.Outsiders got a small view into the relationship between the +agency and Amazon last August when the agency rejected an Amazon +bid to quash demands that both Chief Executive Andy Jassy and +Executive Chairman Jeff Bezos testify at investigative hearings. +Amazon had questioned what it called the agency's "burdensome" +requests in its investigation of the sign-up and cancellation +processes for its Prime program.The Justice Department and FTC have probes underway of all +four platforms. The Justice Department has sued Alphabet's +Google twice, once regarding its search business and a second +time on advertising technology. The FTC has sued Meta's +Facebook.The FTC has also lost a court ruling aimed at stopping a +deal that Meta undertook to buy VR company Within. +(Reporting by Eva Mathews in Bengaluru; additional reporting by +Diane Bartz in Washington; Editing by Shailesh Kuber and Josie +Kao) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/UK shares slip as weak tech earnings weigh on mood.txt b/news/AMZN/2023.02.03/UK shares slip as weak tech earnings weigh on mood.txt new file mode 100644 index 0000000000000000000000000000000000000000..35fb9192e3377e00df3670fff72cf10e71c6d2e0 --- /dev/null +++ b/news/AMZN/2023.02.03/UK shares slip as weak tech earnings weigh on mood.txt @@ -0,0 +1 @@ +The blue-chip FTSE 100 index slipped 0.1% by 0810 GMT, while the midcap FTSE 250 index slid 0.5% after touching a nine-month high in the previous session.Wall Street futures sank after tech titans Apple Inc, Amazon.com Inc and Alphabet Inc reported downbeat results.Still, both the UK equity indexes were heading for weekly gains after dovish comments from the U.S. Federal Reserve and the Bank of England raised hopes that the central banks could pause the rate-hike spree after a series of increases to bring inflation under control.Discount retailer B&M gained 2.2% and Marks & Spencer rose 3.2% after Deutsche Bank upgraded their stocks to "buy" from "hold". (Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Wall St pares declines after stunning jobs report.txt b/news/AMZN/2023.02.03/Wall St pares declines after stunning jobs report.txt new file mode 100644 index 0000000000000000000000000000000000000000..e9bc130cfdf8a68042a0d20d7de4dd378ad7e1fe --- /dev/null +++ b/news/AMZN/2023.02.03/Wall St pares declines after stunning jobs report.txt @@ -0,0 +1,43 @@ +(Corrects paragraph 14 to say Michael Matousek is a head trader +at U.S. Global Investors Inc)*U.S. job growth accelerates in Jan, jobless rate ticks +down*Amazon, Alphabet fall on disappointing results*Ford drops on downbeat outlook*Indexes down: Dow 0.17%, S&P 0.63%, Nasdaq 0.82%Feb 3 (Reuters) -U.S. stock indexes pared declines by afternoon on Friday as +a strong jobs report that initially raised fears of the Federal +Reserve keeping interest rates higher for longer also pointed to +the resilience in the economy in the face of aggressive policy +tightening.The Labor Department's nonfarm payrolls report showed +517,000 job additions in January, almost three times above +expectations, while the unemployment rate hit 3.4%, its lowest +since 1969.Separately, data showed that theU.S. servicesindustry's activity rebounded strongly in January."The data suggests an economy that is running cooler +than half a year ago, but not falling off the cliff," Bill +Adams, chief economist for Comerica Bank said."The outlook is cloudy, but the backward-looking data +shows 2023 began on a stronger footing than seemed the case a +few weeks ago."Money markets expect the U.S. central bank to hike rates two +more times before stopping, after the Fed raised its target rate +by 25 basis points on Wednesday. Rates are seen peaking at 4.95% +by June, compared with 4.91% earlier.Investors also parsed disappointing earnings, with +Amazon.com Inc sliding 5.8% as it warned that its +operating profit could fall to zero in the current quarter.Google parent Alphabet Inc dropped 2.0% as it +missed Wall Street estimates for fourth-quarter results.Markets rallied in the previous session on Fed Chair Jerome +Powell's repeated references to the "disinflationary" process +being underway in his remarks after Wednesday's meeting.Apple Inc forecast another revenue decline at the +start of the year, but the iPhone maker reversed course to trade +2.7% higher.Tesla Inc jumped 3.0% after the U.S. Treasury +Department said that some of its Model Y variants would be +eligible for tax credits.Wall Street's main indexes have had a solid start to the +year as megacap growth stocks, which took a beating last year, +rose on hopes that the Fed's hiking spree will come to an end +this year.The Nasdaq eyed its fifth consecutive weekly +advance, its best streak since October 2021."If the Fed is indeed less hawkish and the economy is doing +well, you would want to own the big names, why sit on the +sidelines?," said Michael Matousek, head trader at U.S. Global +Investors Inc.At 1:01 p.m. ET, the Dow was down 58.67 points, or +0.17%, at 33,995.27 and the S&P 500 was down 26.21 +points, or 0.63%, at 4,153.55.The Nasdaq Composite was down 99.50 points, or +0.82%, at 12,101.32.Ford Motor Co slid 6.6% after missing quarterly +earnings expectations while also warning of a rocky year ahead.Analysts now see fourth-quarter earnings of S&P 500 firms +declining 2.7%, according to Refinitiv.Declining issues outnumbered advancers for a 2.03-to-1 ratio +on the NYSE and for a 1.25-to-1 ratio on the Nasdaq.The S&P index recorded 15 new 52-week highs and no new low, +while the Nasdaq recorded 103 new highs and eight new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian; Additional +reporting by Shubham Batra; Editing by Sriraj Kalluvila and Maju +Samuel) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Wall Street ends down after stunning jobs growth raises Fed questions.txt b/news/AMZN/2023.02.03/Wall Street ends down after stunning jobs growth raises Fed questions.txt new file mode 100644 index 0000000000000000000000000000000000000000..04cb0a7ea0a317c8e23909faaae043d151c26a12 --- /dev/null +++ b/news/AMZN/2023.02.03/Wall Street ends down after stunning jobs growth raises Fed questions.txt @@ -0,0 +1,50 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nasdaq posts 5th straight weekly gain*U.S. reports blowout job data; unemployment lowest since +1969*Megapcap earnings reactions: Apple up; Amazon, Alphabet +slump*Ford Motor drops on downbeat outlook*Indexes down: Dow 0.38%, S&P 1.04%, Nasdaq 1.59%(Updates with further market data)Feb 3 (Reuters) - Major U.S. stock indexes ended lower +on Friday after surprisingly strong jobs data sparked concerns +about aggressive Federal Reserve action, while investors +digested a mixed bag of megacap company earnings reports.The S&P 500 still posted a gain for the week, which included +a string of major market events, and stood not far from +five-month highs. The Nasdaq tallied its fifth straight weekly +rise, its longest such streak since late 2021.U.S. job growth accelerated sharply in January, with nonfarm +payrolls surging by 517,000 jobs, well above an estimate of +185,000. The unemployment rate hit a more than 53-1/2-year low +of 3.4%.In another sign of economic strength, U.S. services industry +activity rebounded strongly in January.Investors have been balancing hopeful signs that the economy +could avoid a feared recession against concerns about how long +the Fed will keep interest rates high to rein in inflation. The +S&P 500 gained earlier this week after comments that were more +dovish than expected from Fed Chair Jerome Powell, who +acknowledged progress in the fight against inflation.The jobs report "was an incredible surprise and it raises a +lot of questions about what the Fed is going to do next,” said +Kristina Hooper, chief global market strategist at Invesco. +“What I think is causing some of the volatility is markets +trying to make sense of how the Fed will perceive this.”The Dow Jones Industrial Average fell 127.93 points, +or 0.38%, to 33,926.01, the S&P 500 lost 43.28 points, or +1.04%, to 4,136.48 and the Nasdaq Composite dropped +193.86 points, or 1.59%, to 12,006.96.For the week, the S&P 500 rose 1.6%, the Dow slipped 0.15%, +and the Nasdaq gained 3.3%.Wall Street's main indexes have had a solid start to the +year as tech and other stocks that struggled in 2022 have +rebounded, fueled by hopes that the Fed's rate hikes would soon +end and the economy might be able to navigate a soft landing.“So many things were trading at bargain-basement prices +three, four months ago," said Eric Kuby, chief investment +officer at North Star Investment Management Corp. "That has gone +away... I think we are in a fair game now.”On Friday, investors were also digesting another heavy +batch of corporate results.Shares of Apple, the largest U.S. company by market +value, rose 2.4%. The company forecast that revenue would fall +for a second quarter in a row but that iPhone sales were likely +to improve as production had returned to normal in China.Shares of Amazon slumped 8.4% as the company said +operating profit could fall to zero in the current quarter as +savings from layoffs do not make up for the financial impact of +consumers and cloud customers clamping down on spending.Alphabet shares dropped 2.7% after the Google +parent posted fourth-quarter profit and sales short of Wall +Street expectations.In other corporate news, Ford Motor shares slid 7.6% +after the automaker predicted a difficult year ahead.Declining issues outnumbered advancing ones on the NYSE by a +2.82-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored decliners.The S&P 500 posted 16 new 52-week highs and one new low; the +Nasdaq Composite recorded 127 new highs and 16 new lows.About 12.8 billion shares changed hands in U.S. exchanges, +compared with the 11.9 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian; Additional reporting by Shubham Batra; Editing +by Sriraj Kalluvila, Maju Samuel and Cynthia Osterman) \ No newline at end of file diff --git a/news/AMZN/2023.02.03/Wall Street sinks after stunning jobs growth raises questions about Fed.txt b/news/AMZN/2023.02.03/Wall Street sinks after stunning jobs growth raises questions about Fed.txt new file mode 100644 index 0000000000000000000000000000000000000000..caf292f8e595636d3d31c184d961e5576f689331 --- /dev/null +++ b/news/AMZN/2023.02.03/Wall Street sinks after stunning jobs growth raises questions about Fed.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. reports blowout job data; unemployment lowest since +1969*Megapcap earnings reactions: Apple up; Amazon, Alphabet +slump*Ford Motor drops on downbeat outlook*Indexes down: Dow 0.39%, S&P 0.91%, Nasdaq 1.25%(Updates with mid-afternoon trading)Feb 3 (Reuters) - Major U.S. stock indexes fell in +choppy trading on Friday after surprisingly strong jobs data +sparked concerns about aggressive Federal Reserve action, while +investors digested a mixed bag of megacap company earnings +reports.The S&P 500 was still set to end the week with gains and was +not far from five-month highs, while the Nasdaq was on pace for +its fifth straight weekly rise.U.S. job growth accelerated sharply in January, with nonfarm +payrolls surging by 517,000 jobs, well above an estimate of +185,000. The unemployment rate hit a more than 53-1/2-year low +of 3.4%.In another sign of economic strength, U.S. services industry +activity rebounded strongly in January.Investors have been balancing hopeful signs that the economy +could avoid a feared recession against concerns about how long +the Fed will keep interest rates high to rein in inflation. The +S&P 500 gained earlier this week after more dovish-than-expected +comments from Fed Chair Jerome Powell, who acknowledged progress +in the fight against inflation.The jobs report "was an incredible surprise and it raises a +lot of questions about what the Fed is going to do next,” said +Kristina Hooper, chief global market strategist at Invesco. +“What I think is causing some of the volatility is markets +trying to make sense of how the Fed will perceive this.”The Dow Jones Industrial Average fell 132.16 points, +or 0.39%, to 33,921.78, the S&P 500 lost 37.88 points, or +0.91%, to 4,141.88 and the Nasdaq Composite dropped +152.08 points, or 1.25%, to 12,048.74.Wall Street's main indexes have had a solid start to the +year as tech and other stocks that struggled last year have +rebounded, fueled by hopes that the Fed's rate hikes would soon +end and the economy might be able to navigate a soft landing.On Friday, investors were also digesting another heavy +batch of corporate results.Shares of Apple, the largest U.S. company by market +value, were up 3%. The company forecast that revenue would fall +for a second quarter in a row but that iPhone sales were likely +to improve as production had returned to normal in China.Shares of Amazon slumped more than 7% as the +company said operating profit could fall to zero in the current +quarter as savings from layoffs do not make up for the financial +impact of consumers and cloud customers clamping down on +spending.Alphabet shares shed over 2% after the Google +parent posted fourth-quarter profit and sales short of Wall +Street expectations.In other corporate news, Ford Motor shares slid over +7% after the automaker predicted a difficult year ahead.Declining issues outnumbered advancing ones on the NYSE by a +2.69-to-1 ratio; on Nasdaq, a 1.55-to-1 ratio favored decliners.The S&P 500 posted 15 new 52-week highs and one new low; the +Nasdaq Composite recorded 103 new highs and 10 new lows. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian; Additional reporting by Shubham Batra; Editing +by Sriraj Kalluvila, Maju Samuel and Cynthia Osterman) \ No newline at end of file diff --git a/news/AMZN/2023.02.06/AMAZON COM INC : Bernstein gives a Buy rating.txt b/news/AMZN/2023.02.06/AMAZON COM INC : Bernstein gives a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..b461ebc62c3dd557c6a47a422c8185f29ddc1cd1 --- /dev/null +++ b/news/AMZN/2023.02.06/AMAZON COM INC : Bernstein gives a Buy rating.txt @@ -0,0 +1 @@ +In his latest research note, analyst Mark Shmulik confirms his positive recommendation. The broker Bernstein is keeping its Buy rating. The target price is still set at USD 125. \ No newline at end of file diff --git a/news/AMZN/2023.02.06/AMAZON COM INC : UBS reiterates its Buy rating.txt b/news/AMZN/2023.02.06/AMAZON COM INC : UBS reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..fa3d52cb8eff6bbe644d2a31306937a86208e7f4 --- /dev/null +++ b/news/AMZN/2023.02.06/AMAZON COM INC : UBS reiterates its Buy rating.txt @@ -0,0 +1 @@ +Already positive, the research from UBS and its analyst Lloyd Walmsley still consider the stock as a Buy opportunity. The target price has been raised to USD 127 from USD 118. \ No newline at end of file diff --git a/news/AMZN/2023.02.06/Amazon.com Announces Fourth Quarter Results.txt b/news/AMZN/2023.02.06/Amazon.com Announces Fourth Quarter Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..985b5d74e449577d96a374c9f6fb968c93a1bc32 --- /dev/null +++ b/news/AMZN/2023.02.06/Amazon.com Announces Fourth Quarter Results.txt @@ -0,0 +1 @@ +SEATTLE- Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its fourth quarter ended December 31, 2022.Fourth Quarter 2022Net sales increased 9% to $149.2 billion in the fourth quarter, compared with $137.4 billion in fourth quarter 2021. Excluding the $5.0 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 12% compared with fourth quarter 2021.North America segment sales increased 13% year-over-year to $93.4 billion, or increased 14% excluding changes in foreign exchange rates.International segment sales decreased 8% year-over-year to $34.5 billion, or increased 5% excluding changes in foreign exchange rates.AWS segment sales increased 20% year-over-year to $21.4 billion.Operating income decreased to $2.7 billion in the fourth quarter, compared with $3.5 billion in fourth quarter 2021. Fourth quarter 2022 operating income includes approximately $2.7 billion of charges for changes in estimates related to self-insurance liabilities, impairments of property and equipment and operating leases, and estimated severance costs. These charges primarily impacted the North America segment.North America segment operating loss was $0.2 billion, compared with operating loss of $0.2 billion in fourth quarter 2021.International segment operating loss was $2.2 billion, compared with operating loss of $1.6 billion in fourth quarter 2021.AWS segment operating income was $5.2 billion, compared with operating income of $5.3 billion in fourth quarter 2021.Net income decreased to $0.3 billion in the fourth quarter, or $0.03 per diluted share, compared with $14.3 billion, or $1.39 per diluted share, in fourth quarter 2021. All share and per share information for comparable prior year periods throughout this release have been retroactively adjusted to reflect the 20-for-1 stock split effected on May 27, 2022.Fourth quarter 2022 net income includes a pre-tax valuation loss of $2.3 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive, Inc., compared to a pre-tax valuation gain of $11.8 billion from the investment in fourth quarter 2021.Full Year 2022Net sales increased 9% to $514.0 billion in 2022, compared with $469.8 billion in 2021. Excluding the $15.5 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 13% compared with 2021.North America segment sales increased 13% year-over-year to $315.9 billion.International segment sales decreased 8% year-over-year to $118.0 billion, or increased 4% excluding changes in foreign exchange rates.AWS segment sales increased 29% year-over-year to $80.1 billion.Operating income decreased to $12.2 billion in 2022, compared with $24.9 billion in 2021.North America segment operating loss was $2.8 billion, compared with operating income of $7.3 billion in 2021.International segment operating loss was $7.7 billion, compared with operating loss of $0.9 billion in 2021.AWS segment operating income was $22.8 billion, compared with operating income of $18.5 billion in 2021.Net loss was $2.7 billion in 2022, or $0.27 per diluted share, compared with net income of $33.4 billion, or $3.24 per diluted share, in 2021.2022 net loss includes a pre-tax valuation loss of $12.7 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive, Inc., compared to a pre-tax valuation gain of $11.8 billion from the investment in 2021.Operating cash flow increased 1% to $46.8 billion for the trailing twelve months, compared with $46.3 billion for the trailing twelve months ended December 31, 2021.Free cash flow decreased to an outflow of $11.6 billion for the trailing twelve months, compared with an outflow of $9.1 billion for the trailing twelve months ended December 31, 2021.Free cash flow less principal repayments of finance leases and financing obligations increased to an outflow of $19.8 billion for the trailing twelve months, compared with an outflow of $20.4 billion for the trailing twelve months ended December 31, 2021.Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations increased to an outflow of $12.8 billion for the trailing twelve months, compared with an outflow of $14.3 billion for the trailing twelve months ended December 31, 2021.'Our relentless focus on providing the broadest selection, exceptional value, and fast delivery drove customer demand in our Stores business during the fourth quarter that exceeded our expectations-and we're appreciative of all our customers who turned to Amazon this past holiday season,' said Andy Jassy, Amazon CEO. 'We're also encouraged by the continued progress we're making in reducing our cost to serve in the operations part of our Stores business. In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities for Amazon. The vast majority of total market segment share in both Global Retail and IT still reside in physical stores and on-premises datacenters; and as this equation steadily flips, we believe our leading customer experiences in these areas along with the results of our continued hard work and invention to improve every day, will lead to significant growth in the coming years. When you also factor in our investments and innovation in several other broad customer experiences (e.g. streaming entertainment, customer-first healthcare, broadband satellite connectivity for more communities globally), there's additional reason to feel optimistic about what the future holds.'HighlightsObsessing over the customer experienceAmazon obsesses over how to make customers' lives better and easier every day. This is true for consumers, sellers, brands, developers, enterprises, and creators. For example, in the past quarter, Amazon:Had a record-breaking holiday season with customers purchasing nearly half a billion items from small businesses in the U.S. During Amazon's biggest Thanksgiving-through-Cyber-Monday holiday shopping weekend ever, customers around the world purchased hundreds of millions of products, and small businesses in the U.S. generated more than $1 billion in sales over the five-day period.Made Same-Day Delivery even faster in major metropolitan areas in the U.S., such as Los Angeles, San Francisco, Phoenix, Sacramento, and Portland, Oregon, where customers can now receive hundreds of thousands of items within hours. Amazon's new Same-Day Delivery site in Sacramento is set to be the world's first logistics facility certified as Zero Carbon by the International Living Future Institute. In the EU, Same-Day Delivery is now available in Belgium.Attracted more than 100 million viewers worldwide to the first season of The Lord of the Rings: The Rings of Power, making it the most watched Amazon Original series in every region of the world, with more than 24 billion minutes streamed, and driving more Prime sign-ups worldwide during its launch window than any previous Prime Video content. Amazon Studios also announced the all-female slate of directors-Charlotte Brandstrom, Sanaa Hamri, and Louise Hooper-for Season Two of The Lord of the Rings: The Rings of Power, which is currently in production in the UK.Finished the Thursday Night Football (TNF) season with the youngest median age of any NFL broadcast package since 2013 and viewership up 11% from last season among hard-to-reach 18- to 34-year-olds, according to Nielsen Media Research. TNF featured the most streamed NFL games ever, with an average audience of 11.3 million viewers, according to combined data from Amazon's first-party measurement metrics and Nielsen Media Research. Prime Video also made history as the first streamer to place on Variety's Top 100 Primetime Telecasts of 2022, with four of its TNF telecasts making the list.Premiered several Original series and films, including Western drama The English, with Emily Blunt;family-friendly competition show Dr. Seuss Baking Challenge; My Policeman,starring Harry Styles;and documentary Good Night Oppy. Prime Video also released new seasons of existing series, including the fourth volume of Rihanna's annual fashion experience Savage X Fenty and the third season of Tom Clancy's Jack Ryan, starring John Krasinski. Wednesday, an MGM-produced series on Netflix, debuted at No. 1 on Nielsen's weekly streaming charts and earned Golden Globe nominations for Best Musical or Comedy Series and Best Actress in a Musical or Comedy Series (Jenna Ortega).Brought HBO back to Prime Video Channels in the U.S., after reaching an agreement with Warner Bros. Discovery. For $15.99 per month, customers who subscribe to HBO Max have access to approximately 15,000 hours of curated premium content.Announced new commitments and migrations from AWS customers.Nasdaq completed the migration of its MRX core trading system to the cloud, delivering a 10% performance improvement for market participants and marking a major milestone in Nasdaq's journey to deliver the first cloud-based U.S. options exchange.NFL and AWS announced the NFL Contact Detection Challenge, which invites experts to use machine learning (ML) and computer vision to predict and prevent injuries.Yahoo Ad Tech selected AWS as its preferred cloud provider to develop tailored and immersive solutions for brands to better connect with their audiences.Stability AI selected AWS as its preferred cloud provider to build and train artificial intelligence (AI) models for the best performance at the lowest cost.Descartes Labs is going all-in on AWS to give customers timely, actionable insights to tackle challenges like enhancing food security and mitigating climate change.Brookfield Asset Management selected AWS as a preferred cloud provider to advance renewable energy use globally.Duke Energy is working with AWS on smart grid solutions to improve reliability and resiliency in preparation for rapid electric vehicle adoption.Wallbox migrated to AWS, enabling customers to return excess energy to the grid and reducing the company's IT costs by 70%.American Family Insurance named AWS as its preferred cloud provider to unlock personalized service and security for its 13.1 million policyholders.Launched AWS Regions in Spain and Switzerland as well as a second Region in India to continue expanding AWS's infrastructure footprint, delivering the most secure, extensive, and reliable cloud technology to millions of customers around the world. As of the end of 2022, AWS has 96 Availability Zones within 30 geographic Regions globally, with announced plans to launch 15 more Availability Zones and five more AWS Regions.Expanded the AWS Partner Network to help customers accelerate innovation in their organizations and speed their journey to the cloud. Professional services company Accenture launched a platform that helps customers drive business outcomes up to 50% faster on AWS. Atos, a provider of managed infrastructure services, will collaborate with AWS to enable customers with large-scale infrastructure outsourcing contracts to accelerate digital transformation and workload migrations to the cloud. Global business and technology consulting company Slalom will develop vertical solutions and accelerators on AWS for joint customers.Inventing on behalf of customersAmazon is driven by a passion for invention across all of its business areas. The company builds new products and services that customers ask for, and also invents new ones that customers didn't know they wanted but make their lives or businesses better in some meaningful way. For example, this past quarter, Amazon:Expanded Buy with Prime to all eligible U.S. merchants, letting more merchants offer Prime customers fast, free delivery, a seamless checkout experience, and easy returns on their websites. Data shows that shopper conversion increases an average of 25% when merchants use Buy with Prime. Amazon also introduced a capability for Buy with Prime merchants to display customer reviews from Amazon.com within their own online stores and announced an integration with BigCommerce, an ecommerce platform, that will help merchants easily enable Buy with Prime on their storefronts with no coding required.Introduced Sparrow into the company's first fulfillment center. Sparrow is a robotic system that can detect, select, and handle individual products in Amazon's inventory-a major technological advancement that allows employees to shift their time and energy to other tasks. Sparrow also improves health and safety by reducing the repetitive tasks done by employees.Delivered the 10 millionth package using electric delivery vehicles from Rivian, custom-designed from the ground up with input from delivery services providers and their drivers. With thousands of miles driven, drivers have said the vehicle design and features make their jobs easier and more comfortable, the driving experience is improved, and they feel safe while driving. Amazon plans to have 100,000 electric delivery vehicles from Rivian on the road by 2030, saving millions of metric tons of carbon per year.Launched Amazon Clinic, a message-based virtual health service that delivers convenient, personalized, affordable care for more than 20 common conditions. Amazon Clinic lets customers choose from a network of leading telehealth providers based on their preferences. Amazon also recently launched RxPass, a new Prime membership benefit from Amazon Pharmacy that offers access to unlimited eligible prescription medications for only $5 per month including free shipping. Amazon's mission in healthcare is to make it dramatically easier for anyone to find, choose, and afford what they need to get and stay healthy.Announced AWS Graviton3E chips, which deliver the best price performance for high performance computing workloads on AWS; new AWS Nitro Cards, which deliver the highest network bandwidth, the highest packet rate performance, and the best price performance for network-intensive workloads; and Inf2 instances, powered by AWS Inferentia2 chips, which deliver the lowest latency at the lowest cost for ML inference on Amazon EC2.Announced Amazon Security Lake, a service that automatically centralizes an organization's security data from cloud and on-premises sources into a purpose-built data lake in a customer's AWS account so customers can act on security data faster.Announced Amazon DataZone, a new data management service that unlocks customer data across organizational boundaries, including the cloud, on-premises infrastructure, and third-party SaaS applications. With AWS DataZone, customers can catalog, discover, and share data with governance and access controls.Announced AWS Supply Chain, an application that helps businesses increase supply chain visibility to make faster, more-informed decisions that mitigate risks, lower costs, and improve customer experiences.Announced AWS SimSpace Weaver, a fully managed simulation service that helps customers build, operate, and run large-scale spatial simulations. With AWS SimSpace Weaver, customers can deploy spatial simulations to model dynamic systems with many data points, like traffic patterns across an entire city, crowd flows in a venue, or factory floor layouts, and use the simulations to visualize physical spaces, perform immersive training, and garner insights on different scenarios to make informed decisions.Announced AWS Clean Rooms, which helps companies across industries easily and securely analyze and collaborate on combined datasets without sharing or revealing underlying data. AWS Clean Rooms provide a broad set of built-in data access controls to protect sensitive data, while allowing customers to create secure data clean rooms to generate unique insights about advertising campaigns, investment decisions, clinical research, and more.Launched Inspire, a feed in the U.S. Amazon shopping app with content from customers, influencers, and brands to help customers discover products personalized for their selected interests.Partnered with Snapchat to launch an augmented reality shopping experience that allows millions of Snapchatters to digitally try-on thousands of Amazon eyewear styles via Snapchat and seamlessly purchase those items in the Amazon store. This experience is enabled by Amazon's 3D Asset technology, which easily integrates with third-party apps like Snapchat, to provide 3D assets for augmented reality-based shopping and dynamically supply up-to-date product details, pricing, and availability.Empowering employees and delivery service partnersIn addition to its focus on customers, Amazon strives to make every day better for its employees and delivery service providers. For example, in the fourth quarter, the company:Surpassed 100,000 participants in Career Choice, an education benefit that empowers employees to learn new skills for career success through a range of options, including prepaid college tuition, foundational skills training, and industry certifications. In 2022 in the U.S., the company celebrated 3,000 graduates of its new English language proficiency program.Continued to make its workplace more accessible and inclusive for employees who are deaf and hard of hearing. For example, Amazon rolled out new video stations over the past year at more than 200 sites across eight countries in North America and Europe to help employees learn the basics of sign language for their region and improve communication with colleagues who are deaf and hard of hearing.Expanded the Amazon Mentoring Program to support new people managers with opportunities to receive mentoring from experienced Amazon people managers and develop the foundational skills to be an effective people leader. Since its launch, the program grew from 18,800 employees in 2016 to over 159,000 employees in 2022.Launched a new Alexa feature where customers can say 'Alexa, thank my driver' to an Alexa-enabled device, the Alexa app, or the Amazon mobile shopping app, and the driver who delivered their most recent package would be notified. Nearly 8 million 'thank yous' have been received.Supporting communities and protecting the environmentAmazon believes that success and scale bring broad responsibility to help the planet, future generations, and local communities in which the company has a significant presence. Amazon employees have passion for investing in these areas, and a sampling of the efforts from this past quarter are that Amazon:Advanced its goal to decarbonize its transportation network globally. For example, Amazon partnered with TVS Motor Company to deploy a fleet of electric two-wheelers and three-wheelers for last mile deliveries in India. The agreement is part of Amazon's plan to bring 10,000 electric delivery vehicles to India by 2025.Released a report detailing Amazon's progress and methods to reduce packaging, including through the use of innovative technologies, processes, and materials. Since 2015, these efforts have helped reduce the weight of packaging per shipment by 38% and eliminated the use of more than 1.5 million tons of packaging materials. Amazon continues to take steps to reduce single-use plastics in outbound packaging, recently announcing that it reduced average plastic packaging weight per shipment by over 7% in 2021 across its global operations network.Unveiled its largest on-site solar energy installation in Europe at a fulfillment center in Seville, Spain that is fitted with more than 13,300 solar panels and is expected to produce more than 6 million kilowatt hours per year-enough energy to power the equivalent of more than 1,500 Spanish homes annually.Set a goal for AWS to be water positive by 2030, returning more water to communities than it uses in its direct operations, and announced that it achieved an industry-leading 2021 global water use efficiency metric of 0.25 liters of water per kilowatt-hour.Signed a memorandum of understanding confirming AWS's continued cooperation in 2023 with the Ukraine government. Since the start of the war, AWS has played a crucial role in helping the Ukraine government maintain continuity and provide critical services to its citizens. To date, Amazon has committed more than $75 million in support to help the people of Ukraine address immediate and long-term needs.Released its latest Community Impact Report, which detailed program milestones, including 85 million pounds of food donated through a partnership with Feeding America; 20 million relief items donated to date; $1.6 billion invested to create or preserve more than 11,000 affordable homes through Amazon's Housing Equity Fund; computer science education provided to 600,000 students across 5,000 schools through Amazon Future Engineer; and $96 million donated to more than 190 nonprofits in the Puget Sound, Washington region in 2021, making it the Seattle area's top corporate philanthropist that year.Financial GuidanceThe following forward-looking statements reflect Amazon.com's expectations as of February 2, 2023, and are subject to substantial uncertainty. Our results are inherently unpredictable and may be materially affected by many factors, such as uncertainty regarding the impacts of the COVID-19 pandemic, fluctuations in foreign exchange rates, changes in global economic and geopolitical conditions and customer demand and spending (including the impact of recessionary fears), inflation, interest rates, regional labor market and global supply chain constraints, world events, the rate of growth of the Internet, online commerce, and cloud services, and the various factors detailed below.First Quarter 2023 GuidanceNet sales are expected to be between $121.0 billion and $126.0 billion, or to grow between 4% and 8% compared with first quarter 2022. This guidance anticipates an unfavorable impact of approximately 210 basis points from foreign exchange rates.Operating income is expected to be between $0 and $4.0 billion, compared with $3.7 billion in first quarter 2022.This guidance assumes, among other things, that no additional business acquisitions, restructurings, or legal settlements are concluded.A conference call will be webcast live today at 2:30 p.m. PT/5:30 p.m. ET, and will be available for at least three months at amazon.com/ir. This call will contain forward-looking statements and other material information regarding the Company's financial and operating results.These forward-looking statements are inherently difficult to predict. Actual results and outcomes could differ materially for a variety of reasons, including, in addition to the factors discussed above, the amount that Amazon.com invests in new business opportunities and the timing of those investments, the mix of products and services sold to customers, the mix of net sales derived from products as compared with services, the extent to which we owe income or other taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the outcomes of claims, litigation, government investigations, and other proceedings, fulfillment, sortation, delivery, and data center optimization, risks of inventory management, variability in demand, the degree to which the Company enters into, maintains, and develops commercial agreements, proposed and completed acquisitions and strategic transactions, payments risks, and risks of fulfillment throughput and productivity. Other risks and uncertainties include, among others, risks related to new products, services, and technologies, system interruptions, government regulation and taxation, and fraud. In addition, global economic and geopolitical conditions and additional or unforeseen circumstances, developments, or events may give rise to or amplify many of these risks. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission ('SEC'), including its most recent Annual Report on Form 10-K and subsequent filings.Our investor relations website is amazon.com/ir and we encourage investors to use it as a way of easily finding information about us. We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, corporate governance information (including our Code of Business Conduct and Ethics), and select press releases, which may contain material information about us, and you may subscribe to be notified of new information posted to this site.About AmazonAmazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth's Most Customer-Centric Company, Earth's Best Employer, and Earth's Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.)Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital product subscriptions that provide unlimited viewing or usage rights are included in 'Subscription services.'(2)Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in 'Online stores.'(3)Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.(4)Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.(5)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.(6)Includes sales related to various other offerings, such as certain licensing and distribution of video content and shipping services, and our co-branded credit card agreements.(7)Excludes the impact of Whole Foods Market.Amazon.com, Inc.Certain DefinitionsCustomer AccountsReferences to customers mean customer accounts established when a customer places an order through one of our stores. Customer accounts exclude certain customers, including customers associated with certain of our acquisitions, Amazon Payments customers, AWS customers, and the customers of select companies with whom we have a technology alliance or marketing and promotional relationship. Customers are considered active when they have placed an order during the preceding twelve-month period.Seller AccountsReferences to sellers means seller accounts, which are established when a seller receives an order from a customer account. Sellers are considered active when they have received an order from a customer during the preceding twelve-month period.AWS CustomersReferences to AWS customers mean unique AWS customer accounts, which are unique customer account IDs that are eligible to use AWS services. This includes AWS accounts in the AWS free tier. Multiple users accessing AWS services via one account ID are counted as a single account. Customers are considered active when they have had AWS usage activity during the preceding one-month period.UnitsReferences to units mean physical and digital units sold (net of returns and cancellations) by us and sellers in our stores as well as Amazon-owned items sold in other stores. Units sold are paid units and do not include units associated with AWS, certain acquisitions, certain subscriptions, rental businesses, or advertising businesses, or Amazon gift cards.See full release at: https://press.aboutamazon.com/2023/2/amazon-com-announces-fourth-quarter-resultsAmazon Investor RelationsDave Fildes, amazon-ir@amazon.comamazon.com/irAmazon Public RelationsDan Perlet, amazon-pr@amazon.comamazon.com/prSource: Amazon.com, Inc.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMZN/2023.02.06/BBVA takes its investment banking platform to the Amazon Web Services cloud.txt b/news/AMZN/2023.02.06/BBVA takes its investment banking platform to the Amazon Web Services cloud.txt new file mode 100644 index 0000000000000000000000000000000000000000..5afd1f18547f22f515b63c67e7774235e515cf86 --- /dev/null +++ b/news/AMZN/2023.02.06/BBVA takes its investment banking platform to the Amazon Web Services cloud.txt @@ -0,0 +1 @@ +BBVA has chosen Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), to take the most sophisticated operations of the Corporate and Investment Banking area (BBVA CIB) to the cloud.Specifically, the new platform provides greater computing power to make calculations related to financial markets faster, more accurate and more efficient.Listen to audio Leer en espanolIn corporate banking, and especially in financial markets, more complex and precise calculations are required to a greater extent to meet customer demands. At BBVA CIB in particular, this need is evident in the valuations of complex transactions, risk scenarios and regulatory requirements in different business units.Digital processingBBVA collaborates with Amazon Web Services and Bloomberg to develop a new technology to boost its equity businessBBVA, in collaboration with Amazon Web Services (AWS) and Bloomberg, has developed a new cloud-based technology for the equity markets area of its Corporate & Investment Banking unit. The bank has created 'BBVA C-fit', a platform built around AWS and Bloomberg technologies, to provide its equity trading team with one of the most cutting edge platforms available in the financial markets sector.This need is met with specialized technologies known as High Performance Computing (HPC), which allow millions of calculations to be performed at the same time, resulting in more accurate and faster valuation processes for corporate and institutional clients.BBVA decided to collaborate with AWS for HPC workloads and to help provide the necessary infrastructure resources to improve these computations. BBVA relies on Amazon Elastic Compute Cloud (Amazon EC2) to drive computing and data processing operations. This collaboration also equips traders, data scientists and analysts with the flexibility and elasticity needed to have the cloud technology resources fully adjusted to real-time needs and demand at any given moment. This includes short periods of time to perform valuations of complex operations or risk scenarios, while maximizing turnaround time efficiency. In addition, the use of this new platform and the pay-per-use model will allow BBVA to significantly reduce service costs.In line with the transformation strategy, this milestone makes it easier for BBVA to continue leveraging cloud capabilities to sustainably increase the efficiency of the service it provides to its corporate customers. According to 451 Research, AWS infrastructure is five times more energy efficient than an average European enterprise data center.For Enrique Checa, Global Head of Architecture and Infrastructure at BBVA CIB, 'The flexibility, scalability and possibilities provided by AWS cloud solutions in this project allow us to take a very important technological leap forward and be ready for the future,'Yves Dupuy, Head of Global Banking, Southern Europe at AWS, said: 'BBVA is an example of a company that works with the customer in mind, aiming to make their experience easier. By employing AWS' extensive portfolio of cloud services, BBVA can continue to innovate and launch new financial solutions that will help BBVA CIB expand its business and help make it more efficient using AWS's global infrastructure that can allow them to accelerate processes, reduce costs, scale quickly and increase flexibility.'In this way, BBVA strengthens its commitment to cloud technology as an essential part of its innovation strategy, while at the same time reinforcing its collaboration with AWS. In addition to the pioneering equity platform, developed jointly with Bloomberg, AWS is one of BBVA's strategic collaborator with whom it has been cooperating for more than four years to drive digitalization and innovation within the Group.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMZN/2023.02.06/Dell to slash over 6,000 jobs amid 'uncertain market future'.txt b/news/AMZN/2023.02.06/Dell to slash over 6,000 jobs amid 'uncertain market future'.txt new file mode 100644 index 0000000000000000000000000000000000000000..3486396f3f935687f8e7c7d0bfbb078f038647d0 --- /dev/null +++ b/news/AMZN/2023.02.06/Dell to slash over 6,000 jobs amid 'uncertain market future'.txt @@ -0,0 +1,24 @@ +Feb 6 (Reuters) - Dell Technologies Inc is +cutting about 6,650 jobs, or 5% of its global workforce, as it +struggles with a slump in the personal computer market and +braces for a potential recession.The move on Monday aligns Dell with a raft of U.S. companies +from Goldman Sachs Group Inc to Alphabet Inc +that have laid off thousands this year to ride out a demand +downturn wrought by high inflation and rising interest rates.Dell had already rolled out cost-cutting moves such as a +hiring pause and limits on travel as it dealt with a +post-pandemic collapse in PC sales, which account more than half +of its revenue.However, those moves are "no longer enough", co-Chief +Operating Officer Jeff Clarke wrote in a memo to employees."What we know is market conditions continue to erode with an +uncertain future," Clarke said. Dell expects to book costs +related to the layoffs in its fiscal fourth quarter, which ends +in January.Rival HP Inc has also said it will cut up to 6,000 +jobs. The market for PCs and tablets is set for another year of +decline in 2023 with a fall of 2.6%, according to research firm +IDC, after rapid growth during the pandemic on the back of +remote working."It was only a matter of time before the wave of tech +layoffs reached Dell's shores, given how sensitive the company +is to both consumer and corporate confidence," said Susannah +Streeter, markets analyst, Hargreaves Lansdown.Dell had about 133,000 employees as of Jan. 28, 2022, of +which, about one-third were based in the United States.The layoffs were first reported by Bloomberg News earlier on +Monday.Dell's shares were flat before the bell.(Reporting by Shivani Tanna and Eva Mathews in Bengaluru; +Editing by Savio D'Souza and Shounak Dasgupta) \ No newline at end of file diff --git a/news/AMZN/2023.02.06/EU's Breton urges rethink on cross-border telecoms mergers.txt b/news/AMZN/2023.02.06/EU's Breton urges rethink on cross-border telecoms mergers.txt new file mode 100644 index 0000000000000000000000000000000000000000..12ec8985308bd9f0358c4e0f1838685f759d6c82 --- /dev/null +++ b/news/AMZN/2023.02.06/EU's Breton urges rethink on cross-border telecoms mergers.txt @@ -0,0 +1 @@ +EU antitrust chief Margrethe Vestager has been reluctant to allow telecoms providers acquire EU peers without hefty remedies, especially when deals reduce the number of players from four to three, underlining concerns about the market power of fewer but larger telecoms operators.The telecoms industry however said consolidation is required to pool resources to roll out costly fast-speed broadband and 5G."I believe that creating a true single market for telecommunications services also requires a reflection on encouraging cross-border consolidation, all while preserving fair and necessary competition for the benefit of our consumers," Breton said in a speech to be delivered at an event in Helsinki.On the issue of whether Alphabet Inc's Google, Meta, Amazon.com Inc, Netflix Inc, Apple Inc and Microsoft Corp should bear some network costs, Breton said the European Commission will launch a consultation this month on the topic."The investments which will be required to achieve our ambitions will be enormous and we need to ensure that they are matched by the availability of sufficient funding. The burden of this financing should not be only on the shoulders of the member states or the EU budget," he said."At a time when technology companies are using most bandwidth and telco operators are seeing their return on investment drop, this also raises the question of who pays for the next generation of connectivity infrastructure," Breton said. (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)By Foo Yun Chee \ No newline at end of file diff --git a/news/AMZN/2023.02.06/Saudi Arabia says tech giants to invest more than $9 bln in kingdom.txt b/news/AMZN/2023.02.06/Saudi Arabia says tech giants to invest more than $9 bln in kingdom.txt new file mode 100644 index 0000000000000000000000000000000000000000..cf8cb78dff56d8252bb2979dc47b3d8c80f815e9 --- /dev/null +++ b/news/AMZN/2023.02.06/Saudi Arabia says tech giants to invest more than $9 bln in kingdom.txt @@ -0,0 +1,28 @@ +RIYADH, Feb 6 (Reuters) - Saudi Arabia has attracted +more than $9 billion in investments in future technologies, +including by U.S. giants Microsoft and Oracle Corp +, which are building cloud regions in the kingdom, a +government minister said on Monday.Saudi Minister of Communication and Information Technology +Abdullah Alswaha said Microsoft will invest $2.1 billion in a +global super-scaler cloud, while Oracle has committed $1.5 +billion to build a new cloud region in Riyadh."The investments... will enhance the kingdom of Saudi +Arabia's position as the largest digital market in the Middle +East and North Africa," Alswaha said at LEAP, an international +technology forum taking place in Riyadh.Alswaha did not give details on the timeframe. Oracle told +Reuters the investment will be made over several years.Saudi officials have pressed international companies to +invest in the kingdom and move their regional headquarters to +Riyadh in order to benefit from government contracts.The kingdom has been pouring hundreds of billions of dollars +into an economic plan, known as Vision 2030, led by its de facto +ruler Crown Prince Mohammed bin Salman.But it has struggled to attract foreign direct investment +(FDI), one of the pillars of Vision 2030, which aims to +diversify the economy away from oil.The minister said China's Huawei will also invest +$400 million in cloud infrastructure for its services in Saudi +Arabia and another cloud region in partnership with oil giant +Aramco.An additional $4.5 billion was invested in global and local +assets across multiple sectors at the forum, Alswaha added.Tonomus, a subsidiary of the $500 billion signature NEOM +project of the crown prince, said last year it invested $1 +billion in 2022 in AI, including a metaverse platform.Increased demand for cloud computing has pushed technology +companies such as Oracle, Microsoft, Amazon and +Alphabet's Google to set up data centres across the +world to speed up data transfer. +(Reporting by Aziz El Yaakoubi; Editing by Sharon Singleton) \ No newline at end of file diff --git a/news/AMZN/2023.02.06/U.S. employment weighs on markets.txt b/news/AMZN/2023.02.06/U.S. employment weighs on markets.txt new file mode 100644 index 0000000000000000000000000000000000000000..2af7582aa51c68dd30b4c03bfa5ad8e7b7677bf0 --- /dev/null +++ b/news/AMZN/2023.02.06/U.S. employment weighs on markets.txt @@ -0,0 +1,43 @@ + +Equity markets posted another weekly gain, but the party was spoiled by a complicated Friday session in the US. Going into the details, quite a bit has happened in the last few sessions, of which I will focus on citing the most important here. +Firstly, The Fed's first monetary policy decision of 2023 was in line with expectations, with a small rate hike. But Jerome Powell was less combative than expected, which increased investors' risk appetite, who believe that the US central bank is moving towards a more favorable policy.  +Secondly, big American technology groups such as Apple, Alphabet, and Amazon have published mediocre quarterly results. Don't worry about them, they are still raking in billions. But they are not so proud of it because the sales figures are not so good. I would like to remind you that it is complicated to make a turnover look better than it really is. But it is quite easy to make earnings per share match market expectations with a minimum of accounting ingenuity and a few well-intentioned share buybacks. +Thirdly, the monthly US employment report published on Friday highlighted the saying "good news for the economy is not necessarily good news for the financial markets". Because the US economy is still going strong, at least from the point of view of the labor market where job creation is explosive and the unemployment rate is at a low point (for a more nuanced view, read a paper by economist James Knightley here). Written like that, it sounds like good news. And it probably is. But not from the point of view of US central bankers, who fear that this momentum could undermine their efforts to slash inflation in a sustainable way. At this stage, there are no signs of a price-wage spiral (rising prices lead to rising wages, which lead to rising prices, which... you get the idea). At least not in the same proportions: wages are rising, but less than prices. However, the statistic dampened the optimism seen in Tuesday, Wednesday and Thursday's sessions. Bond yields accelerated sharply on the 10-year US bond, which is a sign of the return of some tension on the path of monetary policy. But let's not get carried away: these yields are still a long way from the levels of the fall of 2022 when uncertainty about the evolution of inflation was at its peak. +The equity and bond markets feel that the central banks are getting closer to the end of their rate hike cycle. However, some doubts remain and investors are navigating with the statistics that confirm or refute these doubts. Among the main unknowns are + +The precise level of the rate peak +How long rates will remain at the peak level (and by implication the question of when the first drop in the cycle will occur) +And the profound economic consequences of current rate levels (on real estate, corporate financing, household consumption, etc.) + +Returning to last week's performance, Western equity markets posted gains generally between 1 and 2%, rising to over 3% for the Nasdaq 100, the major index that best symbolizes risk appetite. The French CAC40 performed well, gaining nearly 2%. The Parisian index was up thanks to technology companies and its exposure to luxury goods, which is an excellent mirror of the Chinese recovery. +Let's talk about China because Hong Kong and Shanghai are down sharply this morning. This is due to the renewed geopolitical tension between Washington and Beijing after the case of the Chinese observation balloon that drifted in the sky of the United States last week. The discovery of the balloon was initially surprising, but then China explained that it was a civilian balloon that had gone astray, which nobody believed. The balloon was eventually shot down: America could not afford to let a Chinese craft roam in its airspace. Beijing took offense. This is the typical action-reaction game of this kind of situation. Nevertheless, this affair comes at a bad time, since the two powers had planned to hold high-level talks. +In other news over the weekend, India will ban betting and lending apps linked to China. The EU is imposing a cap on Russian diesel exports and a massive earthquake hit southern Turkey and Syria. The macroeconomic calendar will be mostly filled with Asia this week, but it seems that investors are more concerned with the Fed boss' speech tomorrow at 6 pm. Will he get a clear message across after seeming to miss the point last week? That is the question. On the corporate front, the list is still particularly long this week. I'll mention a few to get you in the mood: Linde, BP Plc, BNP Paribas, Carlsberg (Tuesday), Walt Disney, TotalEnergies, CVS Health, Uber, AP Moller Maersk, Adyen, Societe Generale, Akzo, Amundi (Wednesday), AbbVie, PepsiCo, AstraZeneca, L'Oréal, Philip Morris, Unilever, S&P Global, PayPal, Siemens, Vinci, Compass, KBC, Legrand, Crédit Agricole (Thursday). Finally, there were a few capital transactions, including the "unsolicited" takeover offers of Newcrest by Newmont Corporation (that's in gold mining) and of Life Storage by Public Storage (that's in personal storage). +Economic highlights of the day: +German factory orders in December (3:00 am) and Eurozone retail sales in December (5:00am) will enliven the session. All the agenda here. +  +The dollar is up 0.2% to EUR 0.9288 and down 0.07% to GBP 0.8298. The ounce of gold is down to 1872 USD. Oil is also under pressure, with North Sea Brent crude at USD 80.18 a barrel and US WTI light crude at USD 73.70. The yield on 10-year US debt rebounds to 3.55%. Bitcoin is falling back to around USD 22,800. + +In corporate news: + +Newmont said it has made a $16.9 billion bid for Australian miner Newcrest Mining to build a global gold conglomerate. +Chevron has entered into negotiations with Algeria to undertake energy exploration activities in the North African country.  +Dell will cut about 6,650 jobs, or about 5 percent of the computer giant's global workforce, due to declining demand for its personal computers. +Oracle plans to invest $1.5 billion in Saudi Arabia in the coming years to build its cloud presence in the country. +Public Storage, the largest U.S. operator of self-storage properties, announced Sunday that it had made an unsolicited $11 billion bid for rival Life Storage Inc. +Carlyle has hired Harvey Schwartz, a former Goldman Sachs executive, as the private equity firm's next chief executive. +Tesla raised U.S. prices for its best-selling Model Y vehicle by $1,000 after the government raised the price cap on crossover electric vehicles eligible for tax credits. +Rogers - Starboard Value has amassed a significant stake in the electronic materials company and is seeking seats on the group's board. +Southwest Airlines - The airline's chief operating officer, Andrew Watterson, will testify on Feb. 9 before the U.S. Senate Commerce Committee after the group's operational problems in December led to the cancellation of more than 16,000 flights. + +Analyst recommendations: + +Hartford Financial Services Group: Piper Sandler raised the target to $96 from $83. Maintains overweight rating. +Lear: Evercore upgrades to inline from outperform. PT up 2.7% to $145. +M/I Homes: Wedbush raised the target to $73 from $63. Maintains outperform rating. +NVR: KeyBanc Capital Markets starts NVR at Sector Perform with $6,000 Price Target. +Pool: Stifel downgrades to hold from buy targeting $360. +RH: Telsey Advisory Group cut the recommendation to market perform from outperform. Price Target down 4% to $330. +Saia: Benchmark Company maintains buy rating to $320 from $230. Maintains buy rating. +Tesla: Guggenheim raised to $105 from $89. + + diff --git a/news/AMZN/2023.02.07/AMAZON COM INC : JP Morgan reiterates its Buy rating.txt b/news/AMZN/2023.02.07/AMAZON COM INC : JP Morgan reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..5464308820525c466f5de16d6c28eaccc92eecf5 --- /dev/null +++ b/news/AMZN/2023.02.07/AMAZON COM INC : JP Morgan reiterates its Buy rating.txt @@ -0,0 +1 @@ +In his latest research note, analyst Douglas Anmuth confirms his positive recommendation. The broker JP Morgan is keeping its Buy rating. The target price is still set at USD 142. \ No newline at end of file diff --git a/news/AMZN/2023.02.07/Amazon Com : How Amazon is helping communities impacted by the earthquake in Turkey.txt b/news/AMZN/2023.02.07/Amazon Com : How Amazon is helping communities impacted by the earthquake in Turkey.txt new file mode 100644 index 0000000000000000000000000000000000000000..0cb5ec312f802481149f79b25eca3fb55144f3e6 --- /dev/null +++ b/news/AMZN/2023.02.07/Amazon Com : How Amazon is helping communities impacted by the earthquake in Turkey.txt @@ -0,0 +1,78 @@ + + + Amazon activates disaster relief services to help organizations responding to the devastating earthquake in Turkey. + + + +February 7 +First shipment of Amazon relief items leaves Istanbul for areas affected by earthquake + + + A day after the devastating earthquake in Turkey, the first truckload of Amazon's donated relief items departed the company's fulfillment center in Istanbul. + + + The supplies are heading to Hatay Province and include heaters, blankets, and other goods to aide first responders and help victims stay warm amid frigid weather. Rescue operations are ongoing following the Monday morning earthquake, which officials say killed over 7,700 people. + + + Amazon customers can help by donating through a new donations page on Amazon's Turkey store. Within three hours of the page going live on Tuesday, customers had donated more than 5,000 items to help earthquake victims. + + + As of Tuesday morning, all of Amazon's nearly 2,000 employees in Turkey were safe and accounted for. We continue to be in contact with organizations on the ground and the Turkish government to learn more about what's needed in areas impacted by the earthquake, and we will work with partners to deliver relief items and logistical support. + + +February 6 + Just after 4 a.m. local time on Monday, February 6, a 7.8-magnitude earthquake struck Turkey and the surrounding region, causing widespread devastation. Local authorities have confirmed at least 2,600 deaths and expect the figure to increase as search and rescue efforts continue. + + + To assist impacted communities, Amazon has activated its disaster relief capabilities and is responding to help meet the immediate needs of the Red Crescent and other relief organizations. We are preparing to ship donated relief items from our fulfillment center in Istanbul to affected areas. Our donations will include items such as blankets, tents, heaters, food, diapers, baby food, medicine, and other emergency items as victims face not only the damage from the earthquake but frigid winter weather. + + + We expect the first truckloads to depart on Wednesday. + + + +Meet the employee behind Amazon's disaster relief efforts + + + The Disaster Relief by Amazon team helps us leverage our expertise in logistics to coordinate relief efforts around the world. + + +Read more + + + + "This immediate delivery is just the beginning of Amazon's response," said Abe Diaz, head of Amazon's Disaster Relief program. "Over the coming days, we'll work with local organizations and disaster-relief groups to identify on-the-ground needs and use Amazon's logistics and delivery network to meet them." + + + Amazon has nearly 2,000 employees in Turkey and no facilities in the impacted areas. Our local leaders spent the day Monday ensuring that staff and their families were safe and accounted for. We are committed to continue leveraging our infrastructure, inventory, and teams to provide the relief that's needed. + + + Read more about Disaster Relief by Amazon. + + + + + Related Tags + + +CommunityDisaster Relief by AmazonDonations + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amazon.com Inc. published this content on 07 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2023 23:33:07 UTC. + + diff --git a/news/AMZN/2023.02.07/Amazon EC2 High Memory instances are now available in South America (Sao Paulo) region.txt b/news/AMZN/2023.02.07/Amazon EC2 High Memory instances are now available in South America (Sao Paulo) region.txt new file mode 100644 index 0000000000000000000000000000000000000000..21718f5c3d447c9ff184065aaeb25d534eeafacb --- /dev/null +++ b/news/AMZN/2023.02.07/Amazon EC2 High Memory instances are now available in South America (Sao Paulo) region.txt @@ -0,0 +1 @@ +Starting today, Amazon EC2 High Memory instances with 12TiB (u-12tb1.112xlarge) of memory are now available in South America (Sao Paulo) region.Customers can start using these new High Memory instances with On Demand and Savings Plan purchase options.Amazon EC2 High Memory instances are certified by SAP for running Business Suite on HANA, SAP S/4HANA, Data Mart Solutions on HANA, Business Warehouse on HANA, and SAP BW/4HANA in production environments. For details, see the Certified and Supported SAP HANA Hardware Directory.For information on how to get started with your SAP HANA migration to EC2 High Memory instances, view the Migrating SAP HANA on AWS to an EC2 High Memory Instance documentation. To hear from Steven Jones, GM for SAP on AWS on what this launch means for our SAP customers, you can read his launch blog.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMZN/2023.02.07/Arm CEO says firm fully committed to a market listing this year.txt b/news/AMZN/2023.02.07/Arm CEO says firm fully committed to a market listing this year.txt new file mode 100644 index 0000000000000000000000000000000000000000..e18e3ba0b72d5f008608ac0a62051937b49e160f --- /dev/null +++ b/news/AMZN/2023.02.07/Arm CEO says firm fully committed to a market listing this year.txt @@ -0,0 +1 @@ +"The plans are actually fairly well developed and underway now," Rene Haas said in an interview after Arm's corporate parent reported its fourth straight quarter of losses. "We're doing everything we can and are committed to have it happen this year."Arm's fiscal third quarter sales were up 28% to $746 million, one of the few growth areas for Softbank as its vast portfolio of early stage technology startup investments weighed on its results.Arm is the world's biggest supplier of chip design elements used in smartphones, selling intellectual property to companies like Apple Inc and Qualcomm Inc. Arm makes money off upfront licensing deals with such companies and then a royalty on each chip sold using its technology. Part of Haas' strategy has been to speed up Arm's push into other markets such as data center servers, where companies like Amazon.com Inc's cloud unit are using Arm-based chips. Those efforts helped boost upfront license revenue 65% to $300 million as Arm signed new deals in cloud computing and other segments, though company executives conceded that some of the growth was driven by multiple deals landing at once. Arm said per-chip royalties, which are steadier than its deal-making business, were up 12% to $446 million in the quarter. That growth came amid a slowdown in the smartphone business that dragged down results at Apple and Qualcomm. Haas said Arm is "not immune" to the softening smartphone market but that the company has licensed more intellectual property into each chip than in the past. With the most advanced phone chips now using 10 to 12 computing cores along with the newest version of Arm's computing architecture, he said that translates into higher royalties for each chip sold."The diversification that we've done and, in core markets, just having more technology in the chips means that we've been able to withstand the downturn better than most," Haas said. (Additional reporting by Muvija M and Paul Sandle; Editing by Alistair Smout and Bill Berkrot)By Stephen Nellis \ No newline at end of file diff --git "a/news/AMZN/2023.02.07/Mystery Novel \"bert And Norah : The Nickel Dime Murders\" by Bernard H. Burgess is availabl...txt" "b/news/AMZN/2023.02.07/Mystery Novel \"bert And Norah : The Nickel Dime Murders\" by Bernard H. Burgess is availabl...txt" new file mode 100644 index 0000000000000000000000000000000000000000..d2dd0f4d24258a02df92b4fca6101a9bf29b2179 --- /dev/null +++ "b/news/AMZN/2023.02.07/Mystery Novel \"bert And Norah : The Nickel Dime Murders\" by Bernard H. Burgess is availabl...txt" @@ -0,0 +1 @@ +"Bert and Norah: The Nickel Dime Murders" by Bernard H. Burgess is available worldwide. This 300-page mystery novel, which has achieved bestseller status in Amazon's Psychic Mysteries and Crime Action & Adventure categories, follows Bert and Norah Lynnes, a husband and wife duo who operate B and N Investigations. Along with their coyote-wolf hybrid, Missy, the couple has built a reputation for finding missing people, empowered by Missy's incredible tracking and Norah's psychic abilities.As their investigative work draws them to a series of brutal murders, Bert and Norah realize that they are the only people with the skills to catch the killer. The resulting investigation brings them on a multi-state hunt, unraveling the grisly details of each crime as they bounce around the sparsely populated Upper Midwest, including Wyoming, Kansas, Montana, Colorado, and South Dakota. As they trail the killer, sometimes informed only by Norah's visions, the shocking truth begins to emerge. The beauty of American landscapes and the sweetness of Bert and Norah's love for one another combine with the chilling darkness of the crimes in Burgess's writing, bringing readers into a vivid world of twists, turns, and unexpected revelations. The first installment in a 5-part series of "Bert and Norah" novels, this compelling story explores mysticism, murder, romance, social issues, and beyond in a unique narrative that keeps readers guessing all the way up to the final page!Bert and Norah: The Nickel Dime Murders (ISBN: 9780692134122) can be purchased through retailers worldwide, including Barnes and Noble and Amazon. The paperback retails for $10.99. Review copies and interviews are available upon request.About the book:Murder sets the stage for a mystery woven around the undying love between a husband and wife private investigation team. Set under the wide open skies of the upper Midwest, the beauty and serenity of this expansive country is in stark contrast to the dark side of humanity being pursued by B and N Investigations. Norah's psychic abilities are combined with Bert's intuitive logic and the nose of their exceptional tracking animal, a coyote-wolf hybrid named Missy. Their combined skills make them unusually gifted at finding missing people. However, unusual circumstances draw them into the wake of a cunning and brutal killer. They begin to realize that they alone possess the unique skills to bring this case to a final and suspenseful conclusion. Can their love triumph over a killer's hatred? Don't be surprised if you say, "Wow, I did not see that coming!"About the author:Bernard H. Burgess is the oldest son of West Nebraska cattle ranchers. He entered the Air Force after graduating from the University of Nebraska and retired as a Command Pilot with the rank of Lieutenant Colonel. He was a freelance writer in Wyoming and a private investigator in Arkansas. Bernard lives in Fox, Arkansas, near daughter, Heidi, and family.Media ContactCompany Name: MindStir Media LLCContact Person: Jen McNabneyEmail: press@mindstirmedia.comPhone: 800-767-0531Address:1 New Hampshire Ave Suite 125City: PortsmouthState: NHCountry: United StatesWebsite: https://mindstirmedia.com/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AMZN/2023.02.08/A free digital book offer - special edition for income stream seekers.txt b/news/AMZN/2023.02.08/A free digital book offer - special edition for income stream seekers.txt new file mode 100644 index 0000000000000000000000000000000000000000..faebeb70d92ae58976f03733629357ea86d966f7 --- /dev/null +++ b/news/AMZN/2023.02.08/A free digital book offer - special edition for income stream seekers.txt @@ -0,0 +1 @@ +Readers can learn how to identify and overcome limiting beliefs, take action, and achieve success in your businessAnish Chatterjea, the author of the best-selling digital book "The Fearless Entrepreneur," is excited to announce the release of a special edition of the book tailored to individuals seeking to create additional income streams for themselves or wanting to start their own businesses. This edition of the book provides valuable insights and practical tips on how to create financial freedom through e-commerce businesses using platforms like Amazon and affiliate marketing.In this special edition, Anish shares how individuals can leverage their skills and expertise to create a successful e-commerce business and achieve financial freedom in terms of money in the bank and the freedom to do what they desire. The book covers topics such as finding the right business idea, creating a solid business plan, building a successful online presence, and leveraging platforms like Amazon and affiliate marketing to increase revenue and create financial freedom. It also provides strategies for balancing multiple income streams and using the skills and knowledge gained to create a successful e-commerce business.Anish said, "I understand the challenges that individuals face in today's world when it comes to creating multiple income streams or starting a business. I want to share my story and the lessons I've learned to help individuals achieve financial freedom through e-commerce business. I believe that with the right guidance and support, anyone can achieve their dreams of financial freedom and starting their own business."The digital book is available for free download on Anish's website.To get your free copy of "The Fearless Entrepreneur" Special Edition for Income Stream Seekers and start your own e-commerce business journey towards financial freedom today, visit https://secure.saazpro.com/FreeBook.Media ContactCompany Name: SaazLifeContact Person: Anish ChatterjeaEmail: anish@saazpro.comCity: VancouverState: British ColumbiaCountry: CanadaWebsite: secure.saazpro.com/FreeBookSource: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AMZN/2023.02.08/Foxconn in talks to invest in India's Karnataka state.txt b/news/AMZN/2023.02.08/Foxconn in talks to invest in India's Karnataka state.txt new file mode 100644 index 0000000000000000000000000000000000000000..aa44cf6dbccd53a29b09699ebea44e5aa01dc445 --- /dev/null +++ b/news/AMZN/2023.02.08/Foxconn in talks to invest in India's Karnataka state.txt @@ -0,0 +1 @@ +"We are in serious discussion of investment plans with Hon Hai Technology Group (Foxconn) at their Taiwan HQ & look forward to a fruitful collaboration," Bommai said in a tweet. "We remain committed to welcome the best companies to the state & reap rewards for our people."The state's investment promotion arm also tweeted that representatives held a meeting at the company's Taiwan headquarters to discuss the investment, without providing further details.Taiwan-based Foxconn already has operations in Andhra Pradesh and Tamil Nadu, where it manufactures products for companies such as Apple Inc and Amazon.com Inc. (Reporting by Maria Ponnezhath in Bengaluru; Editing by Shailesh Kuber and Anil D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.02.08/Schibsted, publishers look to EU tech rules to resolve Apple antitrust concerns.txt b/news/AMZN/2023.02.08/Schibsted, publishers look to EU tech rules to resolve Apple antitrust concerns.txt new file mode 100644 index 0000000000000000000000000000000000000000..8e20e171d8c0e9fab2adeb5d07d5bc286cba24cf --- /dev/null +++ b/news/AMZN/2023.02.08/Schibsted, publishers look to EU tech rules to resolve Apple antitrust concerns.txt @@ -0,0 +1,33 @@ +BRUSSELS, Feb 8 (Reuters) - Norwegian media group +Schibsted and the European Publishers Council have +urged EU antitrust regulators to ensure that tech rules coming +into play this year will rein in Apple's powers, +especially over its App Store.The comments from Schibsted, the largest media group in the +Scandinavia region, and the publishers' lobbying group come as +the European Commission's Digital Markets Act (DMA) takes effect +in May, targeting Big Tech.Apple is already in the EU antitrust crosshairs related to +its App Store practices in music streaming, in e-books and +competing apps as well as its mobile payment system Apple Pay.Apple's App Store practices affect Schibsted because of its +market power in Scandinavia where up to 60% of consumers have an +iPhone in Norway and Sweden, said Petra Wikstrom, director of +Public Policy at Schibsted."Apple's App Store policies, such as imposing high fees, +taking control of the entire customer relationship, and +withholding important user information under the guise of +privacy and security, hamper our transition to a +subscription-based business model," she told Reuters in an +interview."Therefore, to put an end to such abusive practices in the +digital space and induce positive behavioural change, it is +crucial that the DMA is effectively implemented and enforced," +Wikstrom said.The EPC, whose members include chairmen and chief executives +of Axel Springer, News UK, Conde Nast, the New York Times and +The Guardian, echoed similar concerns."Yes, the EPC has the same position and concerns which we +have raised directly with the commission too. The DMA is very +clear in its obligations and we expect them to be enforced," EPC +Executive Director Angela Mills Wade told Reuters.The commission did not immediately respond to a request for +comment. Apple, which would be forced to loosen its App Store +rules under the DMA, could not be reached for comment.The company has previously said that 85% of developers on +the App Store do not pay any commission and only apps with more +than $1 million in annual revenue pay 30%.In 2021, to allay Japanese antitrust concerns, it scraped +the ban on providing separate links on App Store apps for reader +apps which provide content such as e-books, video and music. +(Reporting by Foo Yun Chee; Editing by Mark Porter) \ No newline at end of file diff --git a/news/AMZN/2023.02.08/Third Point owns Salesforce stake, talks Bath & Body Works changes.txt b/news/AMZN/2023.02.08/Third Point owns Salesforce stake, talks Bath & Body Works changes.txt new file mode 100644 index 0000000000000000000000000000000000000000..9ead7f6cecf226ca1efd9cc66d4ca93727d66fa2 --- /dev/null +++ b/news/AMZN/2023.02.08/Third Point owns Salesforce stake, talks Bath & Body Works changes.txt @@ -0,0 +1 @@ +The size of Third Point's stake could not be learned. The hedge fund, which invests $12.6 billion in assets and sometimes plays the role of corporate agitator, has a broad investment mandate and owns dozens of stocks and other securities in its portfolio.Third Point declined to comment on its stake, which was first reported by the Wall Street Journal. Salesforce has been a magnet for activist investors with Elliott Management, Starboard Value, Inclusive Capital Partners and ValueAct all owning stakes.These firms have said publicly and privately that they would like to see changes at Salesforce.Last month Salesforce appointed three new directors, including the head of ValueAct, Mason Morfit, to join the board on March 1.Elliott, the biggest among the four activists, has laid the groundwork for a board challenge as it was recently interviewing director candidates. The window to nominate at Salesforce opens on February 12.Often investors pile into stocks where one or more activists have taken positions in the hopes that their complaints will lead to positive changes and push the share price higher.Third Point on Wednesday updated its own investors about other investments, including one in Bath & Body Works , where the firm hinted last year that it might mount a boardroom challenge.In the letter, Third Point's founder billionaire investor Daniel Loeb wrote that he sees a chance to work "constructively" with Bath & Body Works to "address its apparent governance issues and help it realize its significant potential." He praised the company, which had been without a chief executive for months, for selecting Gina Boswell from Unilever. She took over in December from Andrew Meslow who had stepped down in May. But Loeb said she faces a big task of transforming it from largely a U.S. retailer of soaps and candles to a more global "direct-to-consumer home and personal care brand.""We believe BBWI can change its equity story, improve its earnings power, and earn a more premium valuation," Loeb wrote. Third Point also said it took a new position in American International Group, a global property and casualty insurer. "AIG's strong fundamental operating results coupled with the catalysts following the separation of Corebridge position should help AIG close that substantial valuation discount," Loeb wrote in the letter seen by Reuters.Last year TP Partners lost 21.7% even as the fund's annualized net return remains at 16%. Last years biggest losers included Walt Disney Co and Amazon.com while Bath & Body Works counted among its biggest winners. (Reporting by Svea Herbst-Bayliss; editing by Diane Craft)By Svea Herbst-Bayliss \ No newline at end of file diff --git a/news/AMZN/2023.02.08/U.S. Treasury urges financial firms to examine cloud services.txt b/news/AMZN/2023.02.08/U.S. Treasury urges financial firms to examine cloud services.txt new file mode 100644 index 0000000000000000000000000000000000000000..1c8b92a192e600266e3b04e91417bd6c8c54cf46 --- /dev/null +++ b/news/AMZN/2023.02.08/U.S. Treasury urges financial firms to examine cloud services.txt @@ -0,0 +1,37 @@ +WASHINGTON, Feb 8 (Reuters) - U.S. Treasury Department +officials highlighted several challenges facing financial firms +that are increasingly turning to cloud computing services to +support a range of their activities, warning in a report on +Wednesday that failure to address them could leave lingering +vulnerabilities.The risk was particularly acute for small and medium-sized +financial institutions, the department said.Deputy Secretary of the Treasury Wally Adeyemo said while +"there is no question that providing consumers with secure and +reliable financial services means greater demand for cloud-based +technologies,” there needed to be "safe and effective migration" +as banks and other financial companies adopt cloud services."Treasury found that cloud services could help financial +institutions become more resilient and secure, but that there +were some significant challenges that could detract from these +benefits," department officials wrote in their report assessing +current cloud adoption in the financial industry.Those issues include financial firms' exposure to potential +cyber incidents, an industry-wide reliance on a small number of +cloud providers and a lack of technology workers able to help +financial institutions deploy cloud services, among other +challenges, department officials said.The report also noted that the patchwork global rules made +it "nearly impossible" for larger firms to consistently adopt +cloud systems globally.For example, financial firms and cloud service providers +in the European Union are facing stricter rules, and will need +to show how quickly they could recover from a cyber attack under +a law due to take effect at the end of 2024.Treasury officials recommended steps that could help the +sector adopt cloud computing, adding that it "neither endorses +nor discourages cloud service adoption by the sector."The banking industry was generally supportive of the report. +The Bank Policy Institute, which represents larger banks, said +in a statement it welcomed collaboration with government +officials on bolstering cloud adoption and addressing risks.The department was establishing a working group to address +the challenges raised in the report and said it would work with +U.S. financial regulators, the industry and international +partners to address the risks.Technology companies that provide cloud computing services +include Amazon Inc's Amazon Web Services, Alphabet +Inc's Google, Microsoft Corp and Oracle Corp +. +(Reporting by Susan Heavey and Pete Schroeder +Editing by Bernadette Baum and Marguerita Choy) \ No newline at end of file diff --git a/news/AMZN/2023.02.08/Wells Fargo taps Morgan Stanley veteran Jeff Hogan as new co-head of M&A.txt b/news/AMZN/2023.02.08/Wells Fargo taps Morgan Stanley veteran Jeff Hogan as new co-head of M&A.txt new file mode 100644 index 0000000000000000000000000000000000000000..a06832b3ff6732475b1ab4be8202b3e004d4b77f --- /dev/null +++ b/news/AMZN/2023.02.08/Wells Fargo taps Morgan Stanley veteran Jeff Hogan as new co-head of M&A.txt @@ -0,0 +1,26 @@ +NEW YORK, Feb 8 (Reuters) - Wells Fargo & Co on +Wednesday named a top Morgan Stanley banker as its new global +co-head of mergers and acquisitions, as part of the bank's +efforts to ramp up its investment banking franchise under Chief +Executive Charles Scharf.Jeff Hogan, who spent over 25 years at Morgan Stanley, will +join Wells Fargo later this year and will be based out of New +York. He will lead Wells Fargo's dealmaking unit alongside David +DeNunzio, the current global head of M&A at the bank.Hogan, who most recently served as co-head of global +technology M&A at Morgan Stanley, has spent most of his career +putting together deals primarily in the technology, media and +telecom (TMT) industries.Notable deals that Hogan advised on include Canadian telecom +giant BCE’s $61.7 billion spin-off of Nortel Networks, Suncor +Energy’s $18.2 merger with PetroCanada and MGM’s $8.45 billion +sale to Amazon.com Inc."As co-heads of global M&A, David and Jeff will partner +closely with the broader M&A team around strategy, client +targeting, and content to further grow our franchise," a Wells +Fargo spokeswoman said.Hogan's hire comes at a time when Wells Fargo is attempting +to bulk up its dealmaking franchise under Scharf and win market +share from larger investment banking rivals like Goldman Sachs +Group and JPMorgan Chase.Last year, Wells Fargo broke into the top-10 rankings for +M&A advisers for the first time in its history, after advising +on several high-profile transactions including Broadcom Inc's +$61 billion planned takeover of VMWare Inc, Kroger Co's pending +combination with Albertsons, and Intercontinental Exchange Inc's +proposed acquisition of Black Knight Inc. +(Reporting by Anirban Sen in New York; editing by Diane Craft) \ No newline at end of file diff --git a/news/AMZN/2023.02.08/Which CVS rivals also own primary care services.txt b/news/AMZN/2023.02.08/Which CVS rivals also own primary care services.txt new file mode 100644 index 0000000000000000000000000000000000000000..4a2ed0723daf5f13658baa7238491286549bd3bb --- /dev/null +++ b/news/AMZN/2023.02.08/Which CVS rivals also own primary care services.txt @@ -0,0 +1,34 @@ +Feb 8 (Reuters) - CVS Health Corp is moving +deeper into primary care with its planned $9.5 billion deal for +Oak Street Health announced on Wednesday, giving it a +bigger role in healthcare services in line with many of its +rival.Here is a list of some big companies that are also providing +medical services or have announced similar deals:UnitedHealth Group IncUnitedHealth's Optum Health business provides +services that range from primary care to specialty care such as +cardiology and oncology.Optum Health served more than 100 million people in the +first nine months of 2022, according to a quarterly regulatory +filing.UnitedHealth last year also announced a deal to buy LHC +Group, which provides healthcare services at home, for +about $5.4 billion. LHC operates at more than 900 service +locations in 37 U.S. states.Walgreens Boots AlliancePharmacy chain Walgreens in 2021 took a majority +stake in primary care provider VillageMD, which has nearly 400 +clinics in the United States including 200 co-located with +Walgreens retails stores, as of the end of 2022.VillageMD completed the acquisition of urgent care provider +Summit Health in a deal valued at $9 billion. Together, +VillageMD and Summit Health will operate at more than 680 +locations.Cigna CorpHealth insurer Cigna Corp invested $2.5 billion in +VillageMD to become a minority shareholder.Amazon.com IncAmazon.com Inc agreed to buy primary care provider +One Medical for $3.49 billion in July to expand its virtual +healthcare and add brick-and-mortar doctors' offices.One Medical has around 815,000 members in total and 214 +medical offices in 26 markets, according to its latest quarterly +filing.Walmart IncWalmart and UnitedHealth Group in September signed a +10-year partnership to provide preventive care for people ages +65 and older, and virtual healthcare services for all age +groups.Walmart's effort with UnitedHealth will target common +ailments among aging Americans such as heart disease and +diabetes.Centene CorpMedicaid provider Centene runs medical centers +through its Community Medical Group, which it acquired in 2018. +It runs 16 medical centers in South Florida and five centers in +Central Florida, according to its website. +(Reporting by Raghav Mahobe and Mariam E Sunny in Bengaluru; +Editing by Bill Berkrot) \ No newline at end of file diff --git "a/news/AMZN/2023.02.09/Amazon Com : How Amazon is helping communities impacted by the earthquake in T\303\274rkiye and S...txt" "b/news/AMZN/2023.02.09/Amazon Com : How Amazon is helping communities impacted by the earthquake in T\303\274rkiye and S...txt" new file mode 100644 index 0000000000000000000000000000000000000000..d36de50a3044d93accd01cecbc4396e67da1c8d4 --- /dev/null +++ "b/news/AMZN/2023.02.09/Amazon Com : How Amazon is helping communities impacted by the earthquake in T\303\274rkiye and S...txt" @@ -0,0 +1,88 @@ + + + Amazon activates disaster relief services to help organizations responding to the devastating earthquake in Türkiye and Syria. + + + +February 8 +Amazon provides cash donations to non-governmentalorganizations helping with relief efforts in Türkiye and Syria + + + Amazon has announced an initial commitment of $500,000 in total cash donations to non-governmental organizations providing critical support in areas affected by the earthquake in Türkiye and Syria. + + + The organizations include Red Crescent, AKUT (Search and Rescue Association), the AHBAP foundation, World Food Program, Save the Children, and UNICEF. Amazon's commitment is in addition to the product donations and logistics support that the company is already providing in the region. The first two truckloads of Amazon's donated relief items departed the company's fulfillment center in Istanbul on Tuesday, February 7, for Hatay Province. Additional trucks are scheduled to depart in the next few days to Hatay and Malatya provinces. Amazon stands with communities in the regions affected by the devastating earthquake. Amazon teams in Türkiye are closely working with local authorities and nonprofits on the ground to provide relief. + + +February 7 +First shipment of Amazon relief items leaves Istanbul for areas affected by earthquake + + + A day after the devastating earthquake in Türkiye, the first truckload of Amazon's donated relief items departed the company's fulfillment center in Istanbul. + + + The supplies are heading to Hatay Province and include heaters, blankets, and other goods to aide first responders and help victims stay warm amid frigid weather. Rescue operations are ongoing following the Monday morning earthquake, which officials say killed over 7,700 people. + + + Amazon customers can help by donating through a new donations page on Amazon's Türkiye store. Within three hours of the page going live on Tuesday, customers had donated more than 5,000 items to help earthquake victims. + + + As of Tuesday morning, all of Amazon's nearly 2,000 workers in Türkiye were safe and accounted for. We continue to be in contact with organizations on the ground and the Turkish government to learn more about what's needed in areas impacted by the earthquake, and we will work with partners to deliver relief items and logistical support. + + +February 6 + Just after 4 a.m. local time on Monday, February 6, a 7.8-magnitude earthquake struck Türkiye and the surrounding region, causing widespread devastation. Local authorities have confirmed at least 2,600 deaths and expect the figure to increase as search and rescue efforts continue. + + + To assist impacted communities, Amazon has activated its disaster relief capabilities and is responding to help meet the immediate needs of the Red Crescent and other relief organizations. We are preparing to ship donated relief items from our fulfillment center in Istanbul to affected areas. Our donations will include items such as blankets, tents, heaters, food, diapers, baby food, medicine, and other emergency items as victims face not only the damage from the earthquake but frigid winter weather. + + + We expect the first truckloads to depart on Wednesday. + + + +Meet the employee behind Amazon's disaster relief efforts + + + The Disaster Relief by Amazon team helps us leverage our expertise in logistics to coordinate relief efforts around the world. + + +Read more + + + + "This immediate delivery is just the beginning of Amazon's response," said Abe Diaz, head of Amazon's Disaster Relief program. "Over the coming days, we'll work with local organizations and disaster-relief groups to identify on-the-ground needs and use Amazon's logistics and delivery network to meet them." + + + Amazon has nearly 2,000 workers in Türkiye and no facilities in the impacted areas. Our local leaders spent the day Monday ensuring that staff and their families were safe and accounted for. We are committed to continue leveraging our infrastructure, inventory, and teams to provide the relief that's needed. + + + Read more about Disaster Relief by Amazon. + + + + + Related Tags + + +CommunityDisaster Relief by AmazonDonations + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amazon.com Inc. published this content on 08 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2023 16:00:07 UTC. + + diff --git a/news/AMZN/2023.02.09/Bytes Technology Group Announces Strategic Collaboration Agreement with Amazon Web Serv...txt b/news/AMZN/2023.02.09/Bytes Technology Group Announces Strategic Collaboration Agreement with Amazon Web Serv...txt new file mode 100644 index 0000000000000000000000000000000000000000..d0e364e2ac556e9b152a36e251761ce46e47f584 --- /dev/null +++ b/news/AMZN/2023.02.09/Bytes Technology Group Announces Strategic Collaboration Agreement with Amazon Web Serv...txt @@ -0,0 +1 @@ +*Bytes Technology Group to collaborate with AWS to scale migration and modernisation offerings on AWSLondon, UK - Bytes Technology Group (Bytes), a leading provider of IT services and digital transformation services, today announced its strategic collaboration agreement with Amazon Web Services, Inc (AWS), an Amazon.com company (NASDAQ:AMZN).As a result of this agreement, Bytes and AWS will collaborate to address the demand for cloud migration, modernisation and cloud security services in the UK and Ireland region across both commercial and public sector organisations.This collaboration will help Bytes to offer joint customers a comprehensive value proposition covering five main areas:*Solution Provider Expansion and Cloud Managed Services - Bytes will expand its business as an AWS Solution Provider for existing and new customers. It will also offer fully managed services on AWS including cloud security, storage, backup and disaster recovery with a focus on cloud cost optimisation. *Cloud Migration and Modernisation Factory - Bytes will offer end-to-end AWS services to enterprise, small and medium business (SMB), independent software vendor and public sector customers. This includes design, implementation, migration, modernisation, management and support. Migration workloads will include Windows and Microsoft applications, storage and database migrations. *Packaged Solutions for SMBs - Bytes will collaborate with AWS to offer packaged solutions to the SMB market across customer engagement, sales and marketing. The solutions will be deployed on AWS, leverage AWS's cloud native data and artificial intelligence and machine learning services and also tailor AWS solutions for industries like Retail, Financial Services and Hospitality for SMBs.*Expansion on AWS Marketplace - Bytes will leverage AWS Marketplace to expand its business and enable customers to procure cloud professional services and third-party software from Bytes partners such as Veeam, Druva, CrowdStrike, Trend, Checkpoint, Alert Logic, among others. *Bytes will also expand its AWS Practice and extend AWS training - Bytes will expand its offering and will train and certify more than 200 sales and technical specialists on AWS. This means that Bytes customers will have access to even more top cloud professionals and a seamless experience in their move to cloud services.Tim Mahoney, Head of Technology, Riviera Travel, said: "Bytes enabled us to make strategic business decisions by providing unambiguous and comprehendible cost options for migrating to the cloud and the cost of consumption once in the cloud. Furthermore, being an AWS Partner, Bytes gave us the clarity and confidence to move our existing environment to the cloud and reduce overall total cost of ownership of doing so.""Our customers are looking to make their next big move on the cloud and the Bytes collaboration with AWS is helping them accelerate the move. We have built and scaled a dedicated, fully-focused Bytes team of Engineers, Architects, Fin Ops, Security, Networking and DevOps to offer end-to-end lifecycle AWS services," added Jack Watson, Managing Director at Bytes.Amanda Sleight, Director, UKI SMB Lead at AWS, said: "We are excited to work with Bytes to address the unique requirements of SMB customers in the UK&I to deploy migrations and cloud security. With its proven delivery capabilities and large customer base, Bytes aims to add value to our customers by offering a one-stop-shop migration factory to accelerate customers' path to AWS cloud."To learn more about migrating to AWS with Bytes, visit the website here: https://www.bytes.co.uk/cloud/amazon-web-servicesENDNotes to EditorsBytes is a leading provider of IT solutions including cloud, security, licensing, SAM, storage, virtualization and managed services. Established in 1982, Bytes employs 773 people in the UK and Ireland. To learn more visit: https://www.bytes.co.uk.ContactLeah JonesCommsColjones@thecommsco.com+44 7876 117760Source: RealWire.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AMZN/2023.02.09/Euronext has no plans to copy rivals with cloud computing deal.txt b/news/AMZN/2023.02.09/Euronext has no plans to copy rivals with cloud computing deal.txt new file mode 100644 index 0000000000000000000000000000000000000000..f5feafc71c139ce38a5b614acf9655f711d15842 --- /dev/null +++ b/news/AMZN/2023.02.09/Euronext has no plans to copy rivals with cloud computing deal.txt @@ -0,0 +1 @@ +London Stock Exchange Group, CME and Nasdaq have all announced partnerships with cloud computing giants like Alphabet, Amazon and Microsoft, with Deutsche Boerse joining them on Thursday in a "strategic partnership" with Google."One of the reasons why we are cautious about the use of data centres of Microsoft, Google and Amazon for critical parts of what we do is because our core supervisors and regulators are themselves very cautious," Boujnah told Reuters on Thursday.Euronext only uses a cloud provider for storing historical data, he said."When it comes to strategic applications such as real-time data and operations of the market, we do not want them to be stored and operated by the data centres of companies which have decision-making centres outside the EU, and physical infrastructure outside the EU," Boujnah added.Euronext said earlier on Thursday it has postponed until further notice a weekly report on positions held in its commodity derivatives, as disruption from a ransomware attack on financial data firm ION Group outside the bloc continued."We analyse very carefully the dependency on certain providers," Boujnah said as Euronext reported full year earnings.Earlier this week, the Bank for International Settlements said a "rethink" is needed on regulating how finance is becoming increasingly dependent on outside parties like cloud firms, which new EU rules will address.Euronext reported record full-year 2022 revenue and income of 1.418 billion euros ($1.52 billion), up 9.3% on 2021 due to consolidating its acquisition of Borsa Italiana.Adjusted earnings per share in 2022 was down 4.8% at 5.21 euros due to higher share count, and the company proposes to pay a dividend of 2.22 euros per share. Euronext said it has increased its 2024 annual pre-tax savings related to integrating Borsa Italiana by 15 million euros to 115 million, with around 70 million of this achieved by the end of 2023 as implementation costs remain unchanged.The savings are nearly double what was promised at the deal's outset."This further demonstrates Euronext's successful track record in integrating acquired companies," Boujnah said.($1 = 0.9307 euros) (Reporting by Huw Jones; Editing by Alexander Smith)By Huw Jones \ No newline at end of file diff --git a/news/AMZN/2023.02.10/Futures fall amid rising yields; Lyft sinks on dour profit outlook.txt b/news/AMZN/2023.02.10/Futures fall amid rising yields; Lyft sinks on dour profit outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..c93a4a56e70b26a21c5b947da76825615c2d007b --- /dev/null +++ b/news/AMZN/2023.02.10/Futures fall amid rising yields; Lyft sinks on dour profit outlook.txt @@ -0,0 +1 @@ +Wall Street's main stock indexes were set to clock declines at the end of a week dominated by hawkish commentary from U.S. Federal Reserve officials, as more than half of the companies on the S&P 500 index wrap up quarterly earnings.The Nasdaq Composite eyed its first weekly fall this year, tracking declines of nearly 2%.Yield on the benchmark 10-year Treasury note rose to its highest level in more than a month, last at 3.69%, up 2.9 basis points. U.S. stock indexes fell in the previous session as Treasury yields gained after an auction of 30-year bonds went poorly. [US/]Rate-sensitive growth companies led declines in premarket trading on Friday, with Apple Inc, Amazon.com Inc, Microsoft Corp, Tesla Inc and Alphabet Inc down between 0.2% and 2.8%.Rising Treasury yields put valuations of growth stocks under pressure, which was also a recurring theme for 2022.Lyft Inc plummeted 32.9% after it also lowered prices, raising concerns it was falling behind bigger rival Uber Technologies Inc. Uber shares dropped 3.7%.At 5:59 a.m. ET, Dow e-minis were down 60 points, or 0.18%, S&P 500 e-minis were down 15 points, or 0.37%, and Nasdaq 100 e-minis were down 97.75 points, or 0.79%. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/AMZN/2023.02.10/North American companies notch another record year for robot orders.txt b/news/AMZN/2023.02.10/North American companies notch another record year for robot orders.txt new file mode 100644 index 0000000000000000000000000000000000000000..757c4398a7e3e76200a86f248b65be0c2a938b6d --- /dev/null +++ b/news/AMZN/2023.02.10/North American companies notch another record year for robot orders.txt @@ -0,0 +1 @@ +Demand for robots appears to have slackened near the end of the year, though, raising questions about how strong 2023 will be in the face of shifting household consumption patterns and the rising interest rates engineered by central bankers to bring high inflation under control.Companies, overwhelmingly located in the United States but including some in Canada and Mexico, ordered just over 44,100 robots in 2022, an 11% increase over the previous year and a new record, according to data compiled by the Association for Advancing Automation, an industry group also known as A3. The value of those machines totaled $2.38 billion, an 18% increase over the prior year, according to the data.The "labor shortage doesn't seem to be letting up," said Jeff Burnstein, president of A3. Many companies, scrambling to find workers amid the lowest U.S. unemployment rate since 1969, see automation as a quick fix.Burnstein said there was a visible slowdown in orders at the end of the year, which raises a question about how 2023 will evolve. "The fourth quarter was really propped up by the strength in the auto industry," he said. "We saw a falling-off in non-automotive" orders.A shift away from pandemic-era consumer behavior likely played a role in the orders drop-off in some segments, he added. "You saw companies like Amazon put a pause on building new warehouses, which means they probably canceled or delayed purchases of new automation."Supply chain problems may also have distorted last year's results. Burnstein said robot makers saw some customers place extra orders during the COVID-19 health crisis - just to ensure they would get part of what they needed. (Graphic: North American robot orders: https://www.reuters.com/graphics/USA-ECONOMY/ROBOT/lbvggbzaqvq/chart.png)AUTO SECTOR DRIVES DEMANDMore than half of last year's orders came from automakers and their suppliers - a group that has long led the way in automation of U.S. factories.New plants for electric vehicles, batteries and battery recycling have been announced since the beginning of 2021 at a cost of $160 billion, according to Atlas Public Policy, a U.S.-based research group working with automakers and environmental groups.Most robots ordered last year will be used for material handling - an expansive category that includes all types of movement and handling of goods inside factories and warehouses. Closure Systems International Inc's sprawling plant in Crawfordsville, Indiana, for instance, recently automated the job of packing and sealing boxes at the end of the assembly line. The company produces closures used for things like soda bottles and food packages.Next up are "auditor" jobs. Machines in the Crawfordsville plant spit out new caps faster than a machine gun, so workers called auditors currently sit in small booths along the line, constantly checking that specifications are met.Brad Bennett, the company's senior vice president of global operations, said small robots will soon be installed in the booths to do the inspection work. "We won't have to reduce people," he said. Those workers will move to other tasks.The new machines will help avoid what happened during the pandemic, he said. "During COVID, we were literally running with 30% of the plant down because we couldn't get a $15-an-hour guy to show up." (Reporting by Timothy Aeppel; Editing by Dan Burns and Paul Simao)By Timothy Aeppel \ No newline at end of file diff --git a/news/AMZN/2023.02.11/Meta delays setting team budgets as Facebook parent plans fresh round of layoffs -FT.txt b/news/AMZN/2023.02.11/Meta delays setting team budgets as Facebook parent plans fresh round of layoffs -FT.txt new file mode 100644 index 0000000000000000000000000000000000000000..73c7527833e9867d31f8886f67d32e44f044802c --- /dev/null +++ b/news/AMZN/2023.02.11/Meta delays setting team budgets as Facebook parent plans fresh round of layoffs -FT.txt @@ -0,0 +1 @@ +In recent weeks there had been a lack of clarity surrounding budgets and future head count, the FT reported, citing two Meta employees familiar with the situation.Meta did not immediately respond to a Reuters request for comment outside of normal business hours.Earlier this month, Meta announced that it expects its 2023 expenses at between $89 billion and $95 billion, with CEO Mark Zuckerberg calling the period a "Year of Efficiency."The WhatsApp owner had cut more than 11,000 jobs or 13% of its workforce in November, following such tech companies as Amazon.com Inc and Microsoft Corp which have announced thousands of layoffs due to the economic downturn. (Reporting by Anirudh Saligrama in Bengaluru; Editing by Matthew Lewis) \ No newline at end of file diff --git a/news/AMZN/2023.02.12/Wall St Week Ahead-Last year's laggards lead U.S. stocks' 2023 rebound, for now.txt b/news/AMZN/2023.02.12/Wall St Week Ahead-Last year's laggards lead U.S. stocks' 2023 rebound, for now.txt new file mode 100644 index 0000000000000000000000000000000000000000..d22b2e9eed03d5a7e231d3c5e4d3ff47d01a679e --- /dev/null +++ b/news/AMZN/2023.02.12/Wall St Week Ahead-Last year's laggards lead U.S. stocks' 2023 rebound, for now.txt @@ -0,0 +1,71 @@ +NEW YORK, Feb 10 (Reuters) - U.S. stocks that took a +beating last year are surging in the early weeks of 2023, +leading markets higher. Some investors believe that trend is +unlikely to last.Stunning gains in shares of companies such as Nvidia +, Netflix and Meta Platforms are +lifting sectors that struggled in last year’s selloff, including +technology, and communication services.Smaller stocks that tumbled in 2022 have also burst out of +the gate: a Goldman Sachs basket of unprofitable tech stocks +that tumbled over 60% in 2022 has rebounded 21% in 2023, +dwarfing the S&P 500’s 6.5% gain.A range of factors are driving the moves, including the +attractiveness of beaten-up shares, a tailwind from falling bond +yields and market participants unwinding bearish bets against +stocks.Some investors, however, are skeptical that the gains will +last, especially if markets continue recalibrating expectations +for how high the Federal Reserve will need to raise rates this +year to keep cooling off inflation.While it’s not unusual to see a reversal of trends to begin +a year, "the extent to which it’s occurred is pretty dramatic,” +said Walter Todd, chief investment officer at Greenwood Capital. +“It certainly can’t continue at the extremes it has been.”Greenwood Capital recently sold at least a portion of its +shares in some 2023 winners, including Meta Platforms and +Netflix. Meta is up 45% so far this year, while Netflix is up +almost 18%. Those stocks fell 64% and 51% last year, +respectively.The S&P 500 jumped 6.2% in January as many investors rushed +to raise their equity positioning after whittling it down last +year, encouraged by several months of easing inflation readings. +One measure, equity positioning for systematic investors, has +climbed to its highest in a year, according to a report from +Deutsche Bank issued Feb 3.Moderating bond yields, which surged in 2022 as the Fed +raised interest rates to fight soaring inflation, bolstered the +case for scooping up last year's losers. The yield on the +benchmark 10-year U.S. Treasury note fell about 40 +basis points during the first few weeks of the year to 3.4% at +the start of February after reaching 15-year highs last year.While falling yields often increase the allure of equities +in general, they are particularly beneficial for the technology +and growth stocks whose valuations suffered when yields shot +higher in 2022.“When interest rates fall, lower quality, longer duration +assets do well," said Rob Almeida, global investment strategist +at MFS Investment Management.Yields have headed higher again in recent days, however, as +investors raised estimates for how high the Fed will lift rates +and how long the central bank will keep them at peak levels. +That's weighed on stocks in the latest week, which saw the S&P +500 lose 1.1% after two straight weeks of gains."The market leaders to-date ... are vulnerable to the +higher-for-longer interest rates and a slowing economy," +strategists at the Wells Fargo Investment Institute said in a +note Thursday. "We do not view the recent breadth and leadership +as sustainable -- yet -- and prefer not to chase equity rallies +at this time."Investors will be closely watching Tuesday's release of U.S. +consumer price data for signs that inflation is continuing to +moderate.David Kotok, chief investment officer at Cumberland +Advisors, is skeptical of the latest rally and some of the +stocks leading the current run. His firm is underweight many of +the big tech and growth stocks that have rebounded in 2023, +preferring healthcare and defense shares and keeping a big +allocation in cash.“Either the deterioration last year from an overvalued space +is over, or this is a dead cat bounce in a wounded large sector +and the bear market of last year is not over," Kotok said. "I am +in the latter camp.”To be sure, there are some signs the leaders could continue +to do well.Since 1990, the three best-performing sectors in January +went on to post an average return of 11.3% over the next 12 +months versus the S&P 500’s average gain of 9.3% over that time, +according to investment research firm CFRA Research.Matt Stucky, senior portfolio manager at Northwestern Mutual +Wealth Management Company, said some of last year’s most +beaten-up stocks could continue moving higher in the near term +as investors cover more short positions.Short sellers have covered $51 billion of their bearish +bets so far in 2023, or about 6% of total shares shorted, +including over $1 billion in shorts each related to Amazon +and Alphabet shares, according to +financial and analytics firm S3 Partners.“Can this last a quarter or two? Yes," Stucky said. "Can it +last for the entirety of 2023 or a multiyear period? Likely +not."(Reporting by Lewis Krauskopf; Editing by Ira Iosebashvili and +Deepa Babignton) \ No newline at end of file diff --git a/news/AMZN/2023.02.13/Amazon CEO doubles down on grocery store business - FT.txt b/news/AMZN/2023.02.13/Amazon CEO doubles down on grocery store business - FT.txt new file mode 100644 index 0000000000000000000000000000000000000000..25cca09e4df13824f96da9151518fd728230c111 --- /dev/null +++ b/news/AMZN/2023.02.13/Amazon CEO doubles down on grocery store business - FT.txt @@ -0,0 +1,18 @@ +Feb 13 (Reuters) - Amazon.com Inc Chief +Executive Andy Jassy has vowed to double down on the ecommerce +giant's struggling grocery store business, the Financial Times +reported on Monday.Jassy blamed a lack of normalcy during the pandemic for a +series of stumbles and said the company was ready to "go big" on +bricks-and-mortar stores, the report added.Amazon did not immediately respond to a Reuters request for +comment.The company has paused expansion of its Fresh supermarkets +and cashier-less convenience stores until it finds the right +recipe for success, Jassy said, in a rare appearance on the +company's quarterly results call earlier this month.Jassy's remarks show how Amazon, which just a year ago +said it would close its bookstores to focus on grocery, has yet +to dominate brick-and-mortar retail since its closely watched +acquisition of Whole Foods Market in 2017.For the time being, the company has closed some grocery +shops and impaired certain assets. It took a $720 million charge +from such actions in the fourth quarter, its chief financial +officer said earlier this month. +(Reporting by Tiyashi Datta in Bengaluru; Editing by Shinjini +Ganguli and Shailesh Kuber) \ No newline at end of file diff --git "a/news/AMZN/2023.02.13/Amazon Com : How Amazon is helping communities impacted by the earthquake in T\303\274rkiye and S...txt" "b/news/AMZN/2023.02.13/Amazon Com : How Amazon is helping communities impacted by the earthquake in T\303\274rkiye and S...txt" new file mode 100644 index 0000000000000000000000000000000000000000..a5a67b21ce5e108865d23cbc6cb3d66d2d78b328 --- /dev/null +++ "b/news/AMZN/2023.02.13/Amazon Com : How Amazon is helping communities impacted by the earthquake in T\303\274rkiye and S...txt" @@ -0,0 +1,117 @@ + + + Amazon activates disaster relief services to help organizations responding to the devastating earthquake in Türkiye and Syria. + + + +February 10 +Amazon establishes Türkiye Disaster Relief Hub to expedite relief + + + Amazon has created the Türkiye Disaster Relief Hub near Istanbul to quickly provide relief items to areas impacted by the recent earthquake in Türkiye and Syria. + + + Working with one of Amazon's local logistics partners, the company has so far converted 2,000 square meters (nearly 21,530 square feet) of warehouse space into a facility that will help move critical supplies to front-line organizations. This facility-set up just four days after the devasting earthquake-will help Amazon expedite the delivery of essential relief items. The company and Amazon customers have donated nearly 100,000 relief items so far, and donations continue to come in. + + + Teams working at the Türkiye Disaster Relief Hub will handle those donations and other critical supplies, including heaters, blankets, shelter materials, and clothing, in close coordination with local authorities and nonprofits on the ground. The facility was established near Istanbul to improve the arrangement and shipment of relief supplies and quickly help people in impacted areas. + + + The first four truckloads of Amazon's donated relief items departed Amazon's fulfilment center in Istanbul earlier this week to Hatay and Malatya provinces. The first truckload carrying customer donations departed Thursday to Kahramanmaraş Province. + + +February 9 +Amazon helps customers in more countries donate to help earthquake victims + + + Amazon is helping customers contribute directly to organizations supporting earthquake relief in Türkiye and Syria. Customers in the United States, Germany, France, Italy, Spain, the Netherlands, the United Arab Emirates, and a growing number of countries can now visit their local sites and donate to organizations like the Red Cross and Red Crescent. Amazon customers in Türkiye can visit the Amazon Türkiye country pageto stay up to date on ways to donate and contribute. + + + Amazon is also providing technology support to organizations responding to the tragedy. The Amazon Web Services Disaster Preparedness and Response team is providing trained technical volunteers and technical solutions to Help.NGO, a United Nations standby partner assisting in the region. So far, Amazon has also provided cash grants to nonprofits on the ground and is using its logistic infrastructure to send relief items to impacted areas. + + + Officials say the death toll has climbed above 20,000, and cold weather now covers Türkiye and Syria. Amazon has already shipped donated blankets, tents, heaters, food, diapers, baby food, medicine, and other emergency items, and Amazon's Disaster Relief team continues to field requests for winter survival equipment, clothing, hygiene products, and other items. + + +February 8 +Amazon provides cash donations to non-governmentalorganizations helping with relief efforts in Türkiye and Syria + + + Amazon has announced an initial commitment of $600,000 in total cash donations to non-governmental organizations providing critical support in areas affected by the earthquake in Türkiye and Syria. + + + The organizations include Red Crescent of Türkiye, AKUT (Search and Rescue Association), the AHBAP foundation, Emirates Red Crescent, World Food Program, Save the Children, and UNICEF. Amazon's commitment is in addition to the product donations and logistics support that the company is already providing in the region. The first two truckloads of Amazon's donated relief items departed the company's fulfillment center in Istanbul on Tuesday, February 7, for Hatay Province. Additional trucks are scheduled to depart in the next few days to Hatay and Malatya provinces. Amazon stands with communities in the regions affected by the devastating earthquake. Amazon teams in Türkiye are closely working with local authorities and nonprofits on the ground to provide relief. + + +February 7 +First shipment of Amazon relief items leaves Istanbul for areas affected by earthquake + + + A day after the devastating earthquake in Türkiye, the first truckload of Amazon's donated relief items departed the company's fulfillment center in Istanbul. + + + The supplies are heading to Hatay Province and include heaters, blankets, and other goods to aide first responders and help victims stay warm amid frigid weather. Rescue operations are ongoing following the Monday morning earthquake, which officials say killed over 7,700 people. + + + Amazon customers can help by donating through a new donations page on Amazon's Türkiye store. Within three hours of the page going live on Tuesday, customers had donated more than 5,000 items to help earthquake victims. + + + As of Tuesday morning, all of Amazon's nearly 2,000 workers in Türkiye were safe and accounted for. We continue to be in contact with organizations on the ground and the Turkish government to learn more about what's needed in areas impacted by the earthquake, and we will work with partners to deliver relief items and logistical support. + + +February 6 + Just after 4 a.m. local time on Monday, February 6, a 7.8-magnitude earthquake struck Türkiye and the surrounding region, causing widespread devastation. Local authorities have confirmed at least 2,600 deaths and expect the figure to increase as search and rescue efforts continue. + + + To assist impacted communities, Amazon has activated its disaster relief capabilities and is responding to help meet the immediate needs of the Red Crescent and other relief organizations. We are preparing to ship donated relief items from our fulfillment center in Istanbul to affected areas. Our donations will include items such as blankets, tents, heaters, food, diapers, baby food, medicine, and other emergency items as victims face not only the damage from the earthquake but frigid winter weather. + + + We expect the first truckloads to depart on Wednesday. + + + +Meet the employee behind Amazon's disaster relief efforts + + + The Disaster Relief by Amazon team helps us leverage our expertise in logistics to coordinate relief efforts around the world. + + +Read more + + + + "This immediate delivery is just the beginning of Amazon's response," said Abe Diaz, head of Amazon's Disaster Relief program. "Over the coming days, we'll work with local organizations and disaster-relief groups to identify on-the-ground needs and use Amazon's logistics and delivery network to meet them." + + + Amazon has nearly 2,000 workers in Türkiye and no facilities in the impacted areas. Our local leaders spent the day Monday ensuring that staff and their families were safe and accounted for. We are committed to continue leveraging our infrastructure, inventory, and teams to provide the relief that's needed. + + + Read more about Disaster Relief by Amazon. + + + + + Related Tags + + +CommunityDisaster Relief by AmazonDonations + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amazon.com Inc. published this content on 13 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2023 17:27:01 UTC. + + diff --git a/news/AMZN/2023.02.13/Amazon EC2 X2idn instances now available in Europe (Zurich) region.txt b/news/AMZN/2023.02.13/Amazon EC2 X2idn instances now available in Europe (Zurich) region.txt new file mode 100644 index 0000000000000000000000000000000000000000..d9c5fe163659b70388931ec074f57bf19417c565 --- /dev/null +++ b/news/AMZN/2023.02.13/Amazon EC2 X2idn instances now available in Europe (Zurich) region.txt @@ -0,0 +1 @@ +Starting today, memory optimized Amazon Elastic Compute Cloud (Amazon EC2) X2idn instances are available in AWS Region Europe (Zurich).X2idn instances, powered by 3rd generation Intel Xeon Scalable Processors (Ice Lake), are designed for memory-intensive workloads and deliver improvements in price performance compared to previous generation X1 instances. The X2idn instance is built on the AWS Nitro System, a collection of AWS designed hardware and software innovations that enables the delivery of efficient, flexible, and secure cloud services with isolated multi-tenancy, private networking, and fast local storage. X2idn has a 16:1 ratio of memory to vCPU making this instance a great fit for workloads such as in-memory databases, analytics, and big data processing engines. X2idn instances are SAP-Certified for running Business Suite on HANA, SAP S/4HANA, Data Mart Solutions on HANA, Business Warehouse on HANA, SAP BW/4HANA, and SAP NetWeaver workloads on any database. You can view the certification data for X2idn on the Certified and Supported SAP HANA Hardware Directory.X2idn instances offer up to 80 Gbps bandwidth and 260k IOPS to Amazon Elastic Block Store (EBS). They are designed to meet the reliability needs of mission-critical workloads. X2idn is available in four different sizes: 16xlarge, 24xlarge, 32xlarge, and bare metal.With this launch, X2idn instances are available in the following AWS Regions: US East (Ohio), US East (N. Virginia), US West (Oregon), Asia Pacific (Jakarta), Asia Pacific (Mumbai), Asia Pacific (Seoul), Asia Pacific (Singapore), Asia Pacific (Sydney), Asia Pacific (Tokyo), Asia Pacific (Osaka), Canada (Central), Europe (Frankfurt), Europe (Ireland), Europe (London), Europe (Milan), Europe (Paris), Europe (Stockholm), Europe (Zurich), South America (Sao Paulo), and AWS GovCloud (US). They can be purchases with Savings Plans, Reserved Instances, Convertible Reserved, On-Demand, and Spot instances, or as Dedicated instances or Dedicated hosts.To learn more, visit the EC2 X2i Instances Page. To get started, see the AWS Management Console, AWS Command Line Interface (AWS CLI), and AWS SDKs.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMZN/2023.02.13/Amazon's Zoox tests robotaxi on public road with employees as passengers.txt b/news/AMZN/2023.02.13/Amazon's Zoox tests robotaxi on public road with employees as passengers.txt new file mode 100644 index 0000000000000000000000000000000000000000..eabebe97e4e11869c871d6e5fba6243a6af201df --- /dev/null +++ b/news/AMZN/2023.02.13/Amazon's Zoox tests robotaxi on public road with employees as passengers.txt @@ -0,0 +1 @@ +The Feb. 11 test, conducted between two Zoox buildings a mile apart at its headquarters in Foster City, California, was part of the launch of a no-cost employee shuttle service that will also help the company refine its technology."Putting the vehicle on (an) open public road and validating our approach to all of the different requirements, including regulatory, is a big step and we would not have done it unless internally we were already looking at the line of sight for going commercial," Chief Executive Aicha Evans told reporters on a conference call. Evans declined to provide a timeline for the commercial launch, which will need additional government clearances.The industry's automated vehicle segment has not rolled out as fast as originally expected as the technology has proven tough to master. Ford Motor Co and Volkswagen AG last fall announced they would shutter their Argo AI self-driving unit and focus on driver-assistance technology that provided more immediate returns. Companies still pursuing development of this technology include General Motors Co's Cruise unit and Alphabet Inc's Waymo.Zoox's robotaxi - built as a fully autonomous vehicle from scratch rather than retrofitting existing cars for self-driving - comes without a steering wheel or pedals and has room for four passengers, with two facing each other.Online retailer Amazon, which has been aggressively expanding into self-driving technology, bought Zoox for $1.3 billion in 2020. But rapid interest rate hikes and weak consumer demand sparked fears of a global recession, forcing many companies, including automakers and tech giants, to trim their workforcesand claw back costs. Zoox's tech chief, Jesse Levinson, said the company has been prudent about its growth but was still on track to reach 2,500 employees this year, up from just under 2,000 employees at the beginning of the year. (Reporting by Abhirup Roy in San Francisco; Editing by Ben Klayman and Matthew Lewis)By Abhirup Roy \ No newline at end of file diff --git a/news/AMZN/2023.02.13/Nasdaq futures edge higher as battered megacaps rise.txt b/news/AMZN/2023.02.13/Nasdaq futures edge higher as battered megacaps rise.txt new file mode 100644 index 0000000000000000000000000000000000000000..b78e634a403844b0bfb281bc3ba06904883aa95e --- /dev/null +++ b/news/AMZN/2023.02.13/Nasdaq futures edge higher as battered megacaps rise.txt @@ -0,0 +1 @@ +Amazon.com Inc, Alphabet Inc, Tesla Inc and Microsoft Corp added between 0.2% and 1.1% before the bell as yields on the U.S. 10-year Treasury note edged lower after hitting a fresh six-week high earlier in the day. [US/]A fall in Treasury note yields indicate traders expect greater return from investments in risky assets.Meanwhile, Meta climbed 1.4% on reports over the weekend that the Facebook parent is preparing to announce a fresh round of job cuts ahead of finalizing its teams budgets.The major U.S. stock indexes ended the week previous lower, with the tech-heavy Nasdaq clocking its first weekly loss this year. Investor sentiment was dented by fresh concerns that the Federal Reserve would keep higher interest rates for longer.Markets will await January inflation and retail sales data through the week to reassess their bets on the central bank's monetary policy path henceforth.Money markets expect the Fed to raise the benchmark interest rate to 5.2% in July, levels that New York Federal Reserve President John Williams favored last week.At 6:53 a.m. ET, Dow e-minis were down 18 points, or 0.05%, S&P 500 e-minis were up 4.5 points, or 0.11%, and Nasdaq 100 e-minis were up 50.5 points, or 0.41%. (Reporting by Johann M Cherian in Bengaluru; Editing by Maju Samuel) \ No newline at end of file diff --git a/news/AMZN/2023.02.13/Nasdaq set for higher open as megacaps rise.txt b/news/AMZN/2023.02.13/Nasdaq set for higher open as megacaps rise.txt new file mode 100644 index 0000000000000000000000000000000000000000..e3be271d10bdc5979a86dc65160791342af04af6 --- /dev/null +++ b/news/AMZN/2023.02.13/Nasdaq set for higher open as megacaps rise.txt @@ -0,0 +1,30 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta climbs on report of more layoffs*Fidelity National slumps on payments business spinoff*Novavax rises on report of U.S. government vaccine deal*Futures: Nasdaq up 0.33%, S&P up 0.09%, Dow flatFeb 13 (Reuters) - The Nasdaq index was set to open +higher on Monday as beaten-down megacap growth stocks gained, +while Meta Platforms climbed on reports of fresh layoffs.Apple Inc, Amazon.com Inc, Alphabet Inc +, Tesla Inc and Microsoft Corp added +between 0.1% and 1.1% before the bell."(Investors) have been holding back during the regime of +rate hikes because they believed it would kill the growth of +technology type stocks," said Peter Andersen, founder of +Andersen Capital Management.Andersen added that the Fed is now signaling that its near +the end of its tightening cycle, which could provide an added +boost to such high-growth firms.All U.S. indexes clocked their worst declines last year +since the financial crisis of 2008, led by a 33% slump in the +tech-heavy Nasdaq, on fears that the Federal Reserve +would tip the economy into a recession with its hawkish monetary +policy.While money markets are expecting rates to peak at 5.2% in +July, a resilient labor market has lifted hopes of a +milder-than-expected recession.Meanwhile, Meta rose 2.2% on reports over the +weekend that the Facebook parent is preparing to announce a +fresh round of job cuts.At 8:49 a.m. ET, Dow e-minis were down 14 points, +or 0.04%, S&P 500 e-minis were up 3.5 points, or 0.09%, +and Nasdaq 100 e-minis were up 40.5 points, or 0.33%.Defense firms such as Boeing Co, Raytheon +Technologies Corp, Lockheed Martin Corp and +L3harris Technologies Inc added between 0.2% and 0.8%.Novavax Inc added 1.8% after the U.S. government +agreed to buy 1.5 million more doses of its COVID-19 vaccine.Fidelity National Information Services Inc plunged +14.6% following its decision to spin off its merchant payments +business.Markets now await January inflation on Tuesday and retail +sales data later in the week to reassess their bets on the +central bank's monetary policy path. +(Reporting by Johann M Cherian in Bengaluru; Editing by Maju +Samuel and Sriraj Kalluvila) \ No newline at end of file diff --git a/news/AMZN/2023.02.13/Silicon Valley layoffs are a boon for tech-hungry farm equipment makers.txt b/news/AMZN/2023.02.13/Silicon Valley layoffs are a boon for tech-hungry farm equipment makers.txt new file mode 100644 index 0000000000000000000000000000000000000000..f8042d8abf1e7845db1e069654bea7f332969b36 --- /dev/null +++ b/news/AMZN/2023.02.13/Silicon Valley layoffs are a boon for tech-hungry farm equipment makers.txt @@ -0,0 +1 @@ +Mass layoffs at major tech firms have opened the talent pipeline for Illinois-based Deere & Co. - the world's largest tractor maker - and rivals who are eager to add tech workers to their payrolls as they expand into autonomous tractors, mining trucks, and other smart farming technology.With an abundance of job openings, the companies are offering remote work arrangements and opening new offices in major cities like Austin and Chicago, a potentially attractive draw for workers who don't want to move to smaller Midwestern cities, where many of the companies are based.The executives said the newly available tech talent could inject much-needed expertise into farm equipment manufacturing, helping to transform the industry through the use of more artificial intelligence and automation. Detroit automakers are also hiring tech workers to meet the growing software needs of vehicles, auto executives have said.Historically, it has been difficult for construction and agriculture equipment manufacturers to compete with Silicon Valley compensation packages, Scott Wine, chief executive of CNH Industrial, an American-Italian machinery maker, said in an interview."They were sucking so much oxygen out of the air because of their significant budgets," Wine said. "Now, they're not hiring and they're firing - so it just means we're getting a much larger pool of potential candidates that we can call upon."CNH hired more than 350 engineers last year, some of whom came from Amazon.com and Microsoft Corp, Wine said. CNH expects to spend more than $1.4 billion in research and development as the company scales precision agriculture offerings in 2023, he added. The combine harvester producer has increased its focus on agriculture in recent years to meet farmers' equipment demand, stacking its tech workforce with highly skilled workers in automation and artificial intelligence. Building more cutting-edge machinery, such as a driverless tillage tractor, appealed to 54-year-old Mukesh Agarwal who was recruited by CNH from Microsoft in July 2021, before the latest layoffs.He now works mostly from his home office in Minnesota and leads a team of software engineers as vice president of precision software and cloud applications development. "I didn't know much about the ag industry or what CNH did, Agarwal said, admitting that the cultural change was an adjustment during his transition to CNH. "But, I saw a tremendous opportunity to bring science and innovation together."REMOTE-CONTROLLEDDeere's main rival, Irving, Texas-based Caterpillar Inc., is also making a big push to recruit tech talent. New hires in machine learning, computer science, and software engineering were up 30% in 2022 from the previous year, Karl Weiss, chief technology officer at Caterpillar, said in an interview.The manufacturer has invested in digital products to improve construction safety using artificial intelligence. It had roughly 500 open tech jobs in December 2022 and it is looking to fill roles with the outflow of laid-off tech workers, Weiss said."The layoffs in the tech community have not been lost on us. We're actively talking to those employees," he said. To boost recruiting efforts, Caterpillar exhibited at the Consumer Electronics Show (CES) - an annual technology trade show in Las Vegas - in-person for the first time last month. Deere was also there, trying to recruit new talent. Attendees got to see first-hand how machinery giants are merging heavy metal with technology. In one demonstration, an excavator 1,600 miles (2,580 km) away at one of Caterpillar's Illinois plants was operated by someone using a remote operator station and joysticks.TECH TALENT PURGEThousands of workers have left or been laid off from tech giants Amazon, Microsoft and Meta Platforms Inc during the biggest purge of tech talent since the dot-com crash of the late 1990s.Large tech companies shed more than 150,000 workers in 2022, according to tracking site Layoffs.fyi. During the COVID-19 pandemic, big tech firms hired aggressively to capitalize on advertising dollars as lockdowns prompted a surge in social media use and online purchases. Layoffs at West Coast-based technology companies have coincided with Deere and CNH boosting investment in artificial intelligence and precision agriculture products, such as automated fertilizer applicators, that they hope to sell to farmers who are trying to boost food production at a time of global shortages.While the availability of tech workers is plentiful now, industry experts say the hiring window is short for companies to reel in tech workers who also have opportunities at startups. "Companies really need to jump into action," said Michael Solomon, co-founder at 10x Management, a compensation negotiation agency for senior tech talent. "It's a really great opportunity, but I don't think it's going to last long." Working from home was once a rare phenomenon at more traditional companies like Deere, but is now more common. And, in some cases, the companies are willing to let workers stay in their current cities rather than relocating. The goal is to offer prospective employees the best of both worlds: work from home or come to a city office that more closely resembles a Silicon Valley tech campus.Deere has its global headquarters in the small city of Moline, about 165 miles west of Chicago, but opening a tech hub in Chicago's trendy West Loop neighborhood last year has helped it be more visible to prospective job candidates who want to live in metro areas. The new office, which neighbors the corporate location of Alphabet Inc's Google in the Windy City, mimics the atmosphere of many startups with unlimited snacks and beer, standing desks, and a gameroom. The amenities aim to attract tech workers. In an acknowledgement that not all tech workers want to relocate to the Midwest, Deere is also hiring employees in Austin, Texas, where it opened an "Innovation Hub" in 2022 and in San Francisco, where it has had an office since 2017, said Johane Domersant, global director of talent at Deere.Previously, Deere would have required new employees to relocate to the Midwest, likely to Iowa or Moline. "We are going to go where the talent is and that is a different strategic bent that we wouldn't have done in the past," Domersant said. (Reporting by Bianca Flowers; Editing by Caroline Stauffer and Ross Colvin)By Bianca Flowers \ No newline at end of file diff --git a/news/AMZN/2023.02.13/Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF.txt b/news/AMZN/2023.02.13/Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF.txt new file mode 100644 index 0000000000000000000000000000000000000000..b60c66e94432a21b624ae753d49c13c8dba8b1fc --- /dev/null +++ b/news/AMZN/2023.02.13/Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF.txt @@ -0,0 +1 @@ +Soros disclosed a $325.3 million stake, or 2.9 million shares, in biotech firm Horizon Therapeutics, which was bought by Amgen in December for nearly $28 billion. It was the investment firm's biggest singular acquisition in the quarter.The firm also bought 2.8 million shares, valued at $90 million, in home health assessment firm Signify Health. It added $209.1 million, or 8.5 million shares, in Memphis-based financial services company First Horizon, which was acquired by Toronto-Dominion Bank roughly a year ago for $13.4 billion. The deal has been delayed and now is expected to be concluded in May. In finance, the investment firm also added consumer lending firm Capital One Financial Corp, Discover Financial Services, and SoFi Technologies, although it also dumped small investments in banks JPMorgan Chase & Co and Bank of New York Mellon Corp.Soros' portfolio dissolved or trimmed positions in tech companies.Shares in Zoom Technologies Inc and Airbnb Inc were sold, while it reduced its holdings in Amazon.com, by 54.5%, to 901 million shares. Shares in the company rose 18.5% this year.The regulatory filing also showed Soros bought $255 million in an investment grade corporate bond ETF.The so-called 13-F filings, which disclose investment firms portfolios, are closely watched for investment trends even though the data is released with a delay and can be dated.As interest rates rise, investors are increasing their bets on U.S. corporate bonds this year. (Reporting by Carolina Mandl, Editing by Chris Reese)By Carolina Mandl \ No newline at end of file diff --git a/news/AMZN/2023.02.13/The Book About Fear - A Step-By-Step Guide To Conquering Fear And Achieving Success.txt b/news/AMZN/2023.02.13/The Book About Fear - A Step-By-Step Guide To Conquering Fear And Achieving Success.txt new file mode 100644 index 0000000000000000000000000000000000000000..0f0a1ea31f2aa7495ca565fc7054067d6feb93e9 --- /dev/null +++ b/news/AMZN/2023.02.13/The Book About Fear - A Step-By-Step Guide To Conquering Fear And Achieving Success.txt @@ -0,0 +1 @@ +Learn the author's real-life experiences and strategies for overcoming fear and achieving success in your business.Anish Chatterjea, the author of the best-selling digital book "The Fearless Entrepreneur," is excited to announce that the book is still available for free download on his website. The book offers valuable insights and practical tips on how to create financial freedom through e-commerce business using platforms like Amazon and affiliate marketing.In "The Fearless Entrepreneur," Anish shares his personal story of facing his fears and starting his own e-commerce business. He also delves into why fear often stops us from stepping out of our comfort zones and starting our own businesses. He explains that fear can manifest in different ways, such as fear of failure, fear of the unknown, and fear of not being good enough. He provides a step-by-step guide on how he created a successful e-commerce business and achieved financial freedom in terms of money in the bank and the freedom to do what he desires.The book covers topics such as finding the right business idea, creating a solid business plan, building a successful online presence, and leveraging platforms like Amazon and affiliate marketing to increase revenue and create financial freedom. It also provides strategies to overcome the fear that often holds us back. It is designed to empower readers to take action and start their own e-commerce businesses with confidence.Anish said, "I am overwhelmed with the positive response to my book. I am glad that people are finding it helpful in starting their own e-commerce businesses and achieving financial freedom. I encourage anyone who is interested in starting their own e-commerce business to download the book for free and take the first step towards achieving their dreams."The digital book is available for free download on Anish's website.To get your free copy of "The Fearless Entrepreneur" and start your own e-commerce business journey towards financial freedom today, visit https://secure.saazpro.com/FreeBook.Media ContactCompany Name: SaazLifeContact Person: Anish ChatterjeaEmail: anish@saazpro.comCountry: CanadaWebsite: secure.saazpro.com/FreeBookSource: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AMZN/2023.02.13/U.S. companies face more pain as expected 'earnings recession' looms.txt b/news/AMZN/2023.02.13/U.S. companies face more pain as expected 'earnings recession' looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..04e67df758fa79054ebaeed8b25cabfe30cdc980 --- /dev/null +++ b/news/AMZN/2023.02.13/U.S. companies face more pain as expected 'earnings recession' looms.txt @@ -0,0 +1 @@ +    Expectations for U.S. earnings to decline in the first and second quarter come amid weaker-than-expected fourth-quarter results for 2022, which Credit Suisse estimates will be the worst earnings season outside of a recession in 24 years.With fourth-quarter 2022 earnings estimated to have fallen from a year ago, a subsequent decline in the first quarter of 2023 would put the S&P 500 into a so-called earnings recession, a back-to-back decline in earnings that hasn't occurred since COVID-19 blasted corporate results in 2020.  Fourth-quarter results are in already from 344 of the S&P 500 companies, and the quarter's earnings are estimated at this point to have fallen 2.8% from the year-ago period, according to IBES data from Refinitiv. Most strategists expect little improvement for the season, and analysts now forecast S&P 500 earnings falling 3.7% year-over-year in the first quarter of 2023 and 3.1% for the second quarter."What's clear is the speed with which the 2023 numbers are falling is just worse than (usual)," said Jonathan Golub, chief U.S. equity strategist & head of quantitative research at Credit Suisse Securities in New York.The darkening earnings picture bolsters the case for investors who believe the stock market's early-year rally is unlikely to last, adding to worries over how high the Federal Reserve will need to take interest rates in its fight to keep inflation on an easing trajectory. The S&P 500 notched its biggest percentage weekly decline since mid-December last week, though the index is up about 7% for the year to date. "The reality for equities is that monetary policy remains in restrictive territory in the context of an earnings recession that has now begun in earnest," wrote analysts at Morgan Stanley, including Michael Wilson, the bank's U.S. equity strategist, in a Monday report.Recent results and guidance from some of the most heavily weighted names in the tech-related space like Alphabet, Amazon.com and Apple have been among the most memorable disappointments this earnings season.Golub and other strategists say a tight labor market that is pressuring margins for companies as a key reason for the decline in earnings, and expect these costs to remain stickier than other pressures.The recent blowout U.S. jobs report for January, which showed job growth accelerating and the lowest unemployment rate in 53 and a half years, has bolstered that view, while also stirring worries that strong job growth could lead to more rate increases from the Federal Reserve. The central bank last year embarked on its most aggressive policy tightening since the 1980s in response to soaring inflation. "If you look at revenues, they're coming in fine," Golub said. "So you say, well, then what's the problem? Margins are collapsing from really high levels." (Reporting by Caroline Valetkevitch; Editing by Ira Iosebashvili and Deepa Babington)By Caroline Valetkevitch \ No newline at end of file diff --git a/news/AMZN/2023.02.13/US STOCKS-Wall St climbs higher on lift from battered growth stocks.txt b/news/AMZN/2023.02.13/US STOCKS-Wall St climbs higher on lift from battered growth stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..ad4317d03491ef3336fb1fb53acbe6416b416b3d --- /dev/null +++ b/news/AMZN/2023.02.13/US STOCKS-Wall St climbs higher on lift from battered growth stocks.txt @@ -0,0 +1,45 @@ +(Corrects time to p.m. from a.m. in paragraph 11)*Meta climbs on report of more layoffs*Fidelity National slumps on payments business spinoff*Indexes up: Dow 0.91%, S&P 1.00%, Nasdaq 1.46%Feb 13 (Reuters) - U.S. main stock indexes rose on +Monday as investors piled into beaten-down megacap growth stocks +with a decline in Treasury yields boosting sentiment, while Meta +Platforms gained on reports the Facebook parent was planning +fresh layoffs.Apple Inc, Amazon.com Inc, Alphabet Inc +and Microsoft Corp added between 0.1% and +3.6%, pushing the Russell 1000 growth sector up by 1.4%Driving gains in the megacap names were declining yields on +the U.S. 10-year Treasury note, with Microsoft also +boosted by a price target raise by Stifel, which said the +tech-giant is clearly looking to upend Alphabet's Google Search +dominance through its integration with ChatGPT.A fall in Treasury note yields indicate traders expect a +greater return from investments in risky assets."Tech type stocks are more sensitive to higher bond yields +and higher rates because their earnings are discounted into the +future," said Brian Klimke, investment director at Cetera +Investment Management LLC."In general we expect more volatility as we get more data +this week and investors reconcile with what the Fed is +thinking."Markets now await January inflation data on Tuesday and +retail sales numbers later in the week to reassess their bets on +the central bank's monetary policy path.All U.S. indexes clocked their worst decline last year since +the financial crisis of 2008, led by a 33% slump in the +tech-heavy Nasdaq, on fears the Federal Reserve would +tip the economy into a recession with its hawkish monetary +policy.While money markets are expecting rates to peak to 5.2% by +July, a resilient labor market has lifted hopes of a +milder-than-expected recession.Meanwhile, Meta rose 2.9% on reports over the +weekend that the company was preparing to announce a fresh round +of job cuts, pushing the consumer services sector 0.9% +higher.At 12:38 p.m. ET, the Dow Jones Industrial Average +was up 307.19 points, or 0.91%, at 34,176.46, the S&P 500 +was up 41.07 points, or 1.00%, at 4,131.53, and the Nasdaq +Composite was up 170.62 points, or 1.46%, at 11,888.74.Ten of the 11 major S&P 500 sectors climbed higher, with the +energy sector's 0.3% fall making it the sole decliner as +crude oil prices slipped on caution ahead of domestic inflation +data.Fidelity National Information Services Inc plunged +13.6% following its decision to spin off its merchant payments +business.TreeHouse Foods Inc dropped 2.7% on a disappointing +annual sales forecast.As the earnings season draws to a close, 69% of the S&P 500 +firms that have reported results thus far have beat profit +expectations, as per Refinitiv on Friday. However, analysts +expect fourth-quarter earnings to fall nearly 3% from a year +earlier.Advancing issues outnumbered decliners by a 2.96-to-1 ratio +on the NYSE and by a 1.77-to-1 ratio on the Nasdaq.The S&P index recorded four new 52-week highs and no new +lows, while the Nasdaq recorded 50 new highs and 49 new lows. +(Reporting by Johann M Cherian in Bengaluru; Editing by Maju +Samuel, Sriraj Kalluvila and Shinjini Ganguli) \ No newline at end of file diff --git a/news/AMZN/2023.02.13/Wall St climbs higher on lift from battered growth stocks.txt b/news/AMZN/2023.02.13/Wall St climbs higher on lift from battered growth stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..96b7cd74a7bcadd116ada5589ef9cb00b86d9bd8 --- /dev/null +++ b/news/AMZN/2023.02.13/Wall St climbs higher on lift from battered growth stocks.txt @@ -0,0 +1,42 @@ +(In seventh paragraph, corrects sector name to "communication +services", not "consumer services")*Meta climbs on report of more layoffs*Fidelity National slumps on payments business spinoff*Indexes up: Dow 0.58%, S&P 0.52%, Nasdaq 0.65%Feb 13 (Reuters) - U.S. main stock indexes rose on +Monday as investors piled into beaten-down megacap growth stocks +with a decline in Treasury yields boosting sentiment, while Meta +Platforms gained on reports the Facebook parent was planning +fresh layoffs.Apple Inc, Amazon.com Inc, Alphabet Inc +, and Microsoft Corp added between 0.7% and +3.4%, pushing up the Russell 1000 Growth sector by 0.7%."(Investors) have been holding back during the regime of +rate hikes because they believed it would kill the growth of +technology type stocks," said Peter Andersen, founder of +Andersen Capital Management.Andersen added that the Fed is now signaling that its near +the end of its tightening cycle, which could provide an added +boost to such high-growth firms.All U.S. indexes clocked their worst declines last year +since the financial crisis of 2008, led by a 33% slump in the +tech-heavy Nasdaq, on fears that the Federal Reserve +would tip the economy into a recession with its hawkish monetary +policy.While money markets are expecting rates to peak to 5.2% in +July, a resilient labor market has lifted hopes of a +milder-than-expected recession.Meanwhile, Meta rose 1.8% on reports over the +weekend that the Facebook parent is preparing to announce a +fresh round of job cuts, pushing the communication services +sector 0.3% higher.Microsoft added 3.4% and was the biggest boost to the +blue-chip Dow after brokerage Stifel said the tech-giant +is clearly looking to up-end Alphabet's Google Search dominance +through its integration with ChatGPT.Ten of the 11 major S&P 500 sector were in the black, with +the energy sector's 1.1% fall making it the sole sector +lower as crude oil prices slipped on caution ahead of domestic +inflation data.Markets now await January inflation on Tuesday and retail +sales data later in the week to reassess their bets on the +central bank's monetary policy path.At 10:12 a.m. ET, the Dow Jones Industrial Average +was up 196.57 points, or 0.58%, at 34,065.84, the S&P 500 +was up 21.17 points, or 0.52%, at 4,111.63, and the Nasdaq +Composite was up 75.59 points, or 0.65%, at 11,793.71.Further buoying gains in megacap names was declining yields +on the U.S. 10-year Treasury note after hitting a +fresh six-week high earlier in the day.A fall in Treasury note yields indicate traders expect +greater return from investments in risky assets.Fidelity National Information Services Inc plunged +15.4% following its decision to spin off its merchant payments +business.Advancing issues outnumbered decliners by a 2.26-to-1 ratio +on the NYSE and by a 1.31-to-1 ratio on the Nasdaq.The S&P index recorded three new 52-week highs and no new +low, while the Nasdaq recorded 39 new highs and 41 new lows. +(Reporting by Johann M Cherian in Bengaluru; Editing by Maju +Samuel and Sriraj Kalluvila) \ No newline at end of file diff --git a/news/AMZN/2023.02.13/Wall St ends higher on lift from growth stocks.txt b/news/AMZN/2023.02.13/Wall St ends higher on lift from growth stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..1743c76d7699abefcb3cddbde69260f22e5e8694 --- /dev/null +++ b/news/AMZN/2023.02.13/Wall St ends higher on lift from growth stocks.txt @@ -0,0 +1 @@ +The Dow and S&P 500 each added more than a percent, while the tech-heavy Nasdaq rose about one and a half percent.Ryan Belanger, founder and managing principal of Claro Advisors, said declining yields on the 10-year Treasury note were driving the gains in tech."I think tech stocks are now super expensive again and I think that's a function of where the bond market is signaling interest rates will be later this year. So the bond market is on one end saying; 'You're not going to be raising as much as you think. In fact, you're going to be cutting.' And [Federal Reserve] Chair Powell is on the other end staring and saying; 'No, I'm not.' And we're going to figure out who is going to blink first. But right now, the tech stocks are aligned with the bond market and lower rates later on this year. That's a good thing for tech stocks and that's what's driving the gains this year for the Nasdaq."Megacaps Apple and Amazon.com kicked off the week with near 2% gains, helping to lift the Russell 1000 growth sector.So too did shares of Microsoft, which rose 3.12% after Stifel lifted its price target on the stock, saying the tech-giant is clearly looking to upend Google Search dominance through its integration with ChatGPT. Shares of Google-parent Alphabet ended essentially flat.Shares of Meta Platforms rose 3% following reports the Facebook parent was planning fresh layoffs.And shares of Fidelity National Information Services fell 12.5% following its decision to spin off its merchant payments business. Investors now await the January CPI report on Tuesday to reassess their bets on the Fed's monetary policy path and the direction of the stock market. \ No newline at end of file diff --git a/news/AMZN/2023.02.13/Wall Street ends higher as investors eye inflation data.txt b/news/AMZN/2023.02.13/Wall Street ends higher as investors eye inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..2e942b64507a1b7daed04cfeaebb1c700c7b3216 --- /dev/null +++ b/news/AMZN/2023.02.13/Wall Street ends higher as investors eye inflation data.txt @@ -0,0 +1,35 @@ +(Updates with end of trading session)*Meta climbs after report of more layoffs*Fidelity National slumps on payments business spinoff*Tech-related heavyweights drive S&P 500 gainsFeb 13 (Reuters) - Wall Street closed higher on Monday +as investors awaited inflation data likely to hint at the path +of the Federal Reserve's future interest rate hikes, while Meta +Platforms gained after a report that the Facebook parent was +planning fresh layoffs.Meta jumped after the Financial Times reported on +Sunday that the company was preparing to announce a new round of +job cuts, adding to layoffs last November.Microsoft, Nvidia, Apple and +Amazon also gained. Along with Meta, those tech-related +heavyweights contributed more than any other stocks to the S&P +500's gains for the session.Helping lift Microsoft, Stifel raised its price target on +the software company and said it is clearly looking to upend +Alphabet's Google search dominance through its integration with +ChatGPT.Investors are laser-focused on January inflation data due +on Tuesday to reassess their bets on the central bank's monetary +policy path.Wall Street's main indexes lost ground last week after +Federal Reserve Chair Jerome Powell warned that interest rates +may need to move higher than expected in the central bank's +battle against inflation."Today is just a natural reaction in the opposite direction +after we've seen very heavy selling pressure," said Keith +Buchanan, portfolio manager at GLOBALT Investments in Atlanta.According to preliminary data, the S&P 500 +gained 46.50 points, or 1.15%, to end at 4,137.48 points, +while the Nasdaq Composite gained 174.12 points, or +1.49%, to 11,892.24. The Dow Jones Industrial Average +rose 374.45 points, or 1.11%, to 34,243.72.So far in this year, the S&P 500 has gained about 8%, +and the index remains down about 14% from its record high close +in January 2022.Fidelity National Information Services Inc plunged +following the banking and payments processing conglomerate's +decision to spin off its merchant payments business.Coca-Cola rose ahead of its quarterly report due out +early on Tuesday.As U.S. quarterly earnings reports wind down, 69% of the S&P +500 firms that have reported results so far have exceeded profit +expectations, according to Refinitiv data. Analysts expect +December-quarter earnings to have fallen nearly 3% from a year +earlier. +(Reporting by Johann M Cherian in Bengaluru; Editing by Maju +Samuel, Sriraj Kalluvila, Shinjini Ganguli and Deepa Babington) \ No newline at end of file diff --git a/news/AMZN/2023.02.13/Wall Street ends sharply higher as investors eye inflation data.txt b/news/AMZN/2023.02.13/Wall Street ends sharply higher as investors eye inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..3d3ed4d6056e1772410e323343748fd6a40ee3bd --- /dev/null +++ b/news/AMZN/2023.02.13/Wall Street ends sharply higher as investors eye inflation data.txt @@ -0,0 +1,42 @@ +(Updates following end of session with price moves)*Meta climbs after report of more layoffs*Fidelity National slumps on payments business spinoff*Tech-related heavyweights drive S&P 500 gains*Indexes rally: S&P 500 +1.15%, Nasdaq +1.48%, Dow +1.11%Feb 13 (Reuters) - Wall Street closed sharply higher on +Monday as investors awaited inflation data likely to hint at the +path of the Federal Reserve's future interest rate hikes, while +Meta Platforms gained after a report that the Facebook parent +was planning fresh layoffs.Meta jumped about 3% after the Financial Times +reported on Sunday that the company was preparing to announce a +new round of job cuts, adding to layoffs last November.Microsoft rose more than 3%, Nvidia +gained 2.5%, and Apple and Amazon each rose +over 1%. Along with Meta, those tech-related heavyweights +contributed more than any other stocks to the S&P 500's gains +during a trading session that saw light volume.Helping lift Microsoft, Stifel raised its price target on +the software company and said it is clearly looking to upend +Alphabet's Google search dominance through its integration with +ChatGPT.Investors are laser-focused on January inflation data due +on Tuesday to reassess their bets on the central bank's monetary +policy path.Wall Street's main indexes lost ground last week after +Federal Reserve Chair Jerome Powell warned that interest rates +may need to move higher than expected in the central bank's +battle against inflation."Today is just a natural reaction in the opposite direction +after we've seen very heavy selling pressure," said Keith +Buchanan, portfolio manager at GLOBALT Investments in Atlanta.Ten of the 11 S&P 500 sector indexes rose, led by +information technology, up 1.77%, followed by a 1.46% +gain in consumer discretionary. The energy index +dipped 0.6%.The S&P 500 climbed 1.15% to end the session at 4,137.32 +points.The Nasdaq gained 1.48% to 11,891.79 points, while the +Dow Jones Industrial Average rose 1.11% to 34,246.13 points.However, volume on U.S. exchanges was relatively light, +with 9.5 billion shares traded, compared to an average of 11.9 +billion shares over the previous 20 sessions.So far in this year, the S&P 500 has gained about 8%, and +the index remains down about 14% from its record high close in +January 2022.Fidelity National Information Services Inc plunged +12.5% following the banking and payments processing +conglomerate's decision to spin off its merchant payments +business.Coca-Cola rose 1.6% ahead of its quarterly report due +out early on Tuesday.As U.S. quarterly earnings reports wind down, 69% of the S&P +500 firms that have reported results so far have exceeded profit +expectations, according to Refinitiv data. Analysts expect +December-quarter earnings to have fallen nearly 3% from a year +earlier.Across the U.S. stock market, advancing stocks +outnumbered falling ones by a 2.5-to-one ratio.The S&P 500 posted four new highs and no new lows; the +Nasdaq recorded 80 new highs and 59 new lows. +(Reporting by Johann M Cherian in Bengaluru; Editing by Maju +Samuel, Sriraj Kalluvila, Shinjini Ganguli and Deepa Babington) \ No newline at end of file diff --git a/news/AMZN/2023.02.13/Wall Street rallies as investors eye inflation data.txt b/news/AMZN/2023.02.13/Wall Street rallies as investors eye inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..7bc70a1974e96bb59d0ed2ee13d9af0ca1c5ebfe --- /dev/null +++ b/news/AMZN/2023.02.13/Wall Street rallies as investors eye inflation data.txt @@ -0,0 +1,36 @@ +(Updates at mid-day with stock moves, investor comment)*Meta climbs after report of more layoffs*Fidelity National slumps on payments business spinoff*Indexes: S&P 500 +1.05%, Nasdaq +1.48%, Dow +0.99%Feb 13 (Reuters) -Wall Street rallied on Monday as investors awaited inflation +data likely to hint at the path of the Federal Reserve's future +interest rate hikes, while Meta Platforms gained after a report +said the Facebook parent was planning fresh layoffs.Microsoft and Nvidia climbed more +than 3%, while Apple and Amazon were each up +more than 1%. Those four tech-related heavyweights contributed +more than any other stocks to the S&P 500's gains for the +session.Helping lift Microsoft, Stifel raised its price target +on the software company and said it is clearly looking to upend +Alphabet's Google search dominance through its integration with +ChatGPT.Investors are laser-focused on January inflation data +due on Tuesday to reassess their bets on the central bank's +monetary policy path.Wall Street's main indexes lost ground last week after +Federal Reserve Chair Jerome Powellwarnedthat interest rates may need to move higher than expected +in the central bank's battle against inflation."Today is just a natural reaction in the opposite +direction after we've seen very heavy selling pressure," said +Keith Buchanan, said Keith Buchanan, portfolio manager at +GLOBALT Investments in Atlanta.Meta rose more than 3% after the Financial Times +reported on Sunday that the company was preparing to announce a +new round of job cuts, adding to layoffs last November.Of the 11 S&P 500 sector indexes, 10 rose, led by +information technology, up 1.86%, followed by a 1.43% +gain in consumer discretionary. The energy index +dipped 0.3%.In afternoon trading, the S&P 500 was up 1.05% at +4,133.27 points.The Nasdaq gained 1.48% to 11,891.06 points, while the +Dow Jones Industrial Average was up 0.99% at 34,205.73 points.Fidelity National Information Services Inc plunged +almost 14% following the banking and payments processing +conglomerate's decision to spin off its merchant payments +business.As U.S. quarterly earnings reports wind down, 69% of the S&P +500 firms that have reported results so far have exceeded profit +expectations, according to Refinitiv data on Friday. Analysts +expect fourth-quarter earnings to fall nearly 3% from a year +earlier.Advancing issues outnumbered falling ones within the S&P +500 by a 7.5-to-one ratio.The S&P 500 posted four new highs and no new lows; the +Nasdaq recorded 60 new highs and 50 new lows. +(Reporting by Johann M Cherian in Bengaluru; Editing by Maju +Samuel, Sriraj Kalluvila, Shinjini Ganguli and Deepa Babington) \ No newline at end of file diff --git a/news/AMZN/2023.02.13/World Press Review: February 13.txt b/news/AMZN/2023.02.13/World Press Review: February 13.txt new file mode 100644 index 0000000000000000000000000000000000000000..9a1d5f11b85637baf9ffe59f80a4f6114ad496fc --- /dev/null +++ b/news/AMZN/2023.02.13/World Press Review: February 13.txt @@ -0,0 +1,4 @@ + +BP plc, Deutsche Bank, Novo Nordisk, Renault, Nissan, Louis Vuitton (LVMH), Saipem, Citigroup, Meta, Amazon, The Clorox Company, Pinterest, General Motors, Lévi Strauss, Uber, Blackstone, Star Entertainment, Toyota, DBS, Geely + + diff --git a/news/AMZN/2023.02.14/EU's Breton plans consultation on Big Tech and telecoms network costs.txt b/news/AMZN/2023.02.14/EU's Breton plans consultation on Big Tech and telecoms network costs.txt new file mode 100644 index 0000000000000000000000000000000000000000..a9f331465481916ff23f336c8c8f896b826b0da9 --- /dev/null +++ b/news/AMZN/2023.02.14/EU's Breton plans consultation on Big Tech and telecoms network costs.txt @@ -0,0 +1,26 @@ +STRASBOURG, Feb 14 (Reuters) - EU industry chief Thierry +Breton is poised to launch a consultation on whether Big Tech +should bear some telecoms network costs, he said on Tuesday +ahead of a telecoms conference taking place in Barcelona from +Feb. 27 to March 2.EU telecoms providers including Deutsche Telekom, +Orange, Telefonica and Telecom Italia +have for years sought to have Big Tech foot some +infrastructure cost for 5G and broadband.The telecoms companies say the six largest content providers +- Meta, Amazon.com Inc, Netflix Inc, +Apple Inc, Microsoft Corp and Alphabet Inc's +Google - account for more than half of data internet +traffic.The tech giants say the idea amounts to an internet traffic +tax that could undermine Europe's net neutrality rules to ensure +all users are treated equally.Asked when the consultation would be launched, Breton told +Reuters: "Wait for my speech at Barcelona. Yes, I will announce +it soon. At Barcelona."The consultation is likely to take about 12 weeks before the +European Commission will propose legislation that will need to +be thrashed out by EU countries and EU lawmakers before it can +become law.Breton said he was confident the process could be wrapped up +by the end of the year. "We will have time, yes," he said.Announcing the start of the consultation at Barcelona is a +strong signal to the telecoms sector of Breton's backing, a +telecoms industry source said. It would be Breton's first +appearance at an event traditionally attended by all major +telecoms operators. +(Reporting by Foo Yun Chee +Editing by David Goodman) \ No newline at end of file diff --git a/news/AMZN/2023.02.14/Exclusive-EU's Breton to kick off network cost consultation end-Feb.txt b/news/AMZN/2023.02.14/Exclusive-EU's Breton to kick off network cost consultation end-Feb.txt new file mode 100644 index 0000000000000000000000000000000000000000..9eede627a11080b3240a323299542e92b3ac22a0 --- /dev/null +++ b/news/AMZN/2023.02.14/Exclusive-EU's Breton to kick off network cost consultation end-Feb.txt @@ -0,0 +1 @@ +Asked when the consultation would be launched, Breton told Reuters: "Wait for my speech at Barcelona. Yes, I will announce it soon. At Barcelona." (Reporting by Foo Yun Chee; Editing by David Goodman) \ No newline at end of file diff --git a/news/AMZN/2023.02.14/Futures edge higher ahead of consumer inflation data.txt b/news/AMZN/2023.02.14/Futures edge higher ahead of consumer inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..58291eec54d44cd135bf14e37fa213450d3c4486 --- /dev/null +++ b/news/AMZN/2023.02.14/Futures edge higher ahead of consumer inflation data.txt @@ -0,0 +1 @@ +The Labor Department report, due at 8:30 a.m. ET, is expected to show consumer prices climbed 0.5% in January, on a month-over-month basis following a 0.1% rise in December. However, on a year-on-year basis inflation is expected to have eased to 6.2% last month from a 6.5% rise in December.Markets have had an upbeat start to this year, driven by a renewed interest in growth stocks that were left battered in 2022 as the Fed worked to bring steep prices under control.However, the rally has stalled recently as signs of a still-tight labor market and hawkish commentary from Federal Reserve policymakers gave way to expectations of the U.S. central bank staying hawkish throughout the year.A Reuters poll showed that a majority of economists see two more rate hikes in March and May with no cuts by year-end, bringing the majority of private-sector forecasters in line with the central bank's own projections and rhetoric.Money market traders have priced in at least two more 25 basis point rate hikes this year and see interest rates peaking at 5.18% by July. [0#FEDWATCH]The yield on the U.S. 10-year Treasury notes slipped from six-week highs hit in the previous session. [US/]Megacap growth stocks such as Tesla Inc, Microsoft Corp, Apple Inc and Amazon.com Inc rose between 0.1% and 1.3% before the opening bell. At 7:22 a.m. ET, Dow e-minis were up 38 points, or 0.11%, S&P 500 e-minis were up 10.5 points, or 0.25%, and Nasdaq 100 e-minis were up 51 points, or 0.41%.Coca-Cola Co rose 0.8% after its strong full-year profit forecast as the soda maker bets on resilient demand despite multiple price hikes.Marriott International Inc added 1.5% as the U.S.-based hotel operator reported a surge in fourth-quarter earnings as it benefited from strong travel demand.Nearly 69% of more than half of the S&P 500 firms that have reported results have beaten profit expectations, as per Refinitiv on Friday. However, analysts expect fourth-quarter earnings to fall 2.8% from a year earlier. (Reporting by Johann M Cherian in Bengaluru; Editing by Maju Samuel) \ No newline at end of file diff --git a/news/AMZN/2023.02.14/India's TVS in talks with ADIA, Goldman, Carlyle for EV investment - ET.txt b/news/AMZN/2023.02.14/India's TVS in talks with ADIA, Goldman, Carlyle for EV investment - ET.txt new file mode 100644 index 0000000000000000000000000000000000000000..0225c1139d8017ff74fea7be5858d9b8acfcc63b --- /dev/null +++ b/news/AMZN/2023.02.14/India's TVS in talks with ADIA, Goldman, Carlyle for EV investment - ET.txt @@ -0,0 +1 @@ +The $300 million to $350 million investment would value TVS at about $3 billion to $3.5 billion, likely making it India's most valuable EV two-wheeler manufacturer, ET said, citing people with knowledge of the matter.Due diligence is currently underway, the report said.TVS, ADIA, Goldman Sachs and Carlyle did not immediately respond to Reuters' requests for comment.TVS Motors, which makes the iQube e-scooter, had reported its EV sales had nearly doubled in the October-December quarter.The company has also tied up with Amazon.com Inc's India unit to boost its EV business. (Reporting by Praveen Paramasivam in Chennai; Editing by Varun H K) \ No newline at end of file diff --git a/news/AMZN/2023.02.14/Minister And Paramedic, Albert Bened : From the Loss of a Mother to Reuniting with my Fath...txt b/news/AMZN/2023.02.14/Minister And Paramedic, Albert Bened : From the Loss of a Mother to Reuniting with my Fath...txt new file mode 100644 index 0000000000000000000000000000000000000000..897080feca0d772a90bd800a6294a4bab7f62d3c --- /dev/null +++ b/news/AMZN/2023.02.14/Minister And Paramedic, Albert Bened : From the Loss of a Mother to Reuniting with my Fath...txt @@ -0,0 +1 @@ +"As a minister and first responder paramedic, Cassell Jr. is uniquely positioned to minister to people right where they are."A memoir, "Pain, Tears, and Testimony: From the Loss of a Mother to Reuniting with my Father" by Albert Benedict Cassell Jr., tells the story of overcoming and resiliency.Los Angeles, CA, USA -- Albert Benedict Cassell Jr. first joined the Fire Department, staying up many nights and journaling his experiences. Over the years, his journaling became therapeutic, and he realized how much emotion and insight he held inside. Cassell Jr. says, "The words on the paper became a pathway to the inner me and communication with my Heavenly Father. It became healing for me, and now it's time to share that with others." The result was the publication of "Pain, Tears, and Testimony: From the Loss of a Mother to Reuniting with my Father" by Cassell Jr., published by Westbow Press on January 31, 2023. The book is available in eBook, paperback, and hardback from Amazon and Barnes and Noble. Cassell Jr. admits he was a broken man who was made whole by the power of God. "It's my mission to tell the world that your test does not have to end in tragedy. Your test is the catalyst to your triumph. My message is to the younger me, expressing my most inner thoughts throughout the book, as I navigate through grief, marriage, faith, and family," Cassell Jr. says. According to Cassell Jr., "Readers should purchase this book because there is healing in our testimonies. We do not go through the storms of life to be broken but to be renewed and made whole again. My story can help someone who may be grieving the loss of a loved one, a marriage, or internal trauma. Recognizing the pain is the first step towards building resiliency." As a minister and first responder paramedic, Cassell Jr. is in a unique position to minister to people right where they are.ABOUT THE BOOKPAIN, TEARS, AND TESTIMONY: From the Loss of a Mother to Reuniting with my FatherI have come to the realization that the Lord has allowed me to endure the pain, tears, and testimony, all for His glory. I'm here to share a story of a broken man made whole through the power of God. His grace and mercy found me when I lost myself. None of us are perfect, but the journey is all worth it. I thank God for the true freedom given to me through the salvation of Jesus Christ. Holy Spirit, lead me.Available in eBook, paperback, and hardback from Amazon and Barnes and NobleABOUT THE AUTHORAlbert Benedict Cassell Jr. is a bold communicator with a message of resilience and healing. Born in Providence, Rhode Island, Albert is the son of Albert Benedict Cassell Sr. and the late Sophie Muhlenburg Cassell of Liberia, West Africa. Albert is married to Crystal Greyann Cassell, and within their union, they have four children, Khalil, Alijah, Asaiah, and Azaniah. Albert spent his early childhood years in the Providence public school system before attending boarding school in Hershey, Pennsylvania. At the Milton Hershey School, Albert completed the academic standards with a focus in agriculture, visual, and performing arts. Albert is a graduate of Winston-Salem State University in North Carolina. There he received a Bachelor of Arts in Mass Communications with a focus in public relations. Upon graduation, he began his career at Viacom / MTV Networks in New York City. There he served as a field producer for the News and Documentary Department. Inspired by those who assisted with the personal and medical care of his mother before her death, Albert answered the call for public service, becoming a Career Firefighter / EMT. Within the Fire service, Albert learned the importance of staying calm under pressure while maintaining compassionate service to the community. Today Albert serves as a Minister, Author, and Paramedic. Albert has published a children's book, "Aji'Paw: The Boy Who Found the Sun" and a memoir entitled, "Pain, Tears, and Testimony." With the instrument of voice, Albert plans to be used as a vessel to bring healing and build resilience.Website: www.Alwritesbooks.comemail: alcassell@gmail.comemail: provxvi3@gmail.comInstagram: @al_cassell_jrInstagram: @alwritesbooksMedia ContactCompany Name: AAPH Press Distribution, LLCContact Person: Albert Benedict Cassell Jr.Email: alcassell@gmail.comPhone: 951-234-1620Address:1231 Williams BlvdCity: St. LouisState: MOCountry: United StatesWebsite: Alwritesbooks.comSource: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AMZN/2023.02.14/NCC expands reach by joining Amazon Web Services Marketplace.txt b/news/AMZN/2023.02.14/NCC expands reach by joining Amazon Web Services Marketplace.txt new file mode 100644 index 0000000000000000000000000000000000000000..254e55c3394e768662e1e6b2476bc5285d194fa0 --- /dev/null +++ b/news/AMZN/2023.02.14/NCC expands reach by joining Amazon Web Services Marketplace.txt @@ -0,0 +1 @@ +(Alliance News) - NCC Group PLC on Tuesday said it is has expanded its direct reach to software vendors by joining Amazon.com Inc's Web Services Marketplace.The Manchester-based cybersecurity company said it has joined the Amazon Web Services Marketplace with its Escrow as a Service product.The AWS Marketplace is a "global" platform hosting products and services to simplify procurement, provisioning, and governance of third-party software, services, and data.NCC added that by listing the Escrow as a Service product, it is expanding its direct reach to software vendors. By using the EaaS products, the company said that software vendors can "safeguard their reputation" by ensuring critical applications, code and data are always available and accessible in the event of service disruption. "NCC Group's range of EaaS products enable software vendors to reduce risk for their customers, help instil trust to their software supply chain, and provide assurances that their business critical software is both available and resilient," it explained.Global Cloud Vendor Alliances Director Michelle Ayres said: "We are delighted to be working together with Amazon Web Services to help organisations navigate the myriad of challenges they face when they rely on third party vendors for the supply of business critical software. Knowing who to turn to for the right level of assurance and resilience is key and with our EaaS products now available on the AWS Marketplace we'll be helping many more organisations gain peace of mind for the continuity of their AWS hosted applications."Shares in NCC were flat at 180.00 pence each in London on Tuesday morning.By Sophie Rose, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AMZN/2023.02.14/S&P 500 dips as inflation data supports rate worries.txt b/news/AMZN/2023.02.14/S&P 500 dips as inflation data supports rate worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..d9f980a522f10e57db5b49777a494605df5492cc --- /dev/null +++ b/news/AMZN/2023.02.14/S&P 500 dips as inflation data supports rate worries.txt @@ -0,0 +1,48 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Marriott rises on upbeat profit outlook*Palantir surges on forecasting profitable year*Apple, Alphabet weigh on S&P 500*Indexes: S&P 500 -0.20%, Nasdaq +0.07%, Dow -0.44%Feb 14 (Reuters) -The S&P 500 dipped on Tuesday after U.S. consumer +price data for January offered little to change expectations +about the Federal Reserve's path forward on interest rate hikes.Data showed U.S. consumer prices accelerated in January as +Americans continued to be burdened by higher rental housing +costs, suggesting that the Fed Federal Reserve will maintain a +moderate interest rate hiking path."Inflation remains elevated, albeit it appears to be +slowing," said Terry Sandven, chief equity strategist at U.S. +Bank Wealth Management in Minneapolis. "Looking at today's price +action, I think it might be a little bit of profit-taking on the +heels of strong year-to-date performance."Losses of about 1% in Apple Inc, Amazon.com Inc +and Alphabet Inc helped keep the S&P 500 in +negative territory.Of the 11 S&P 500 sector indexes, seven declined, led by +real estate, down 1.12%, followed by a 0.64% loss in +consumer staples.The consumer discretionary index rose 0.5% on a +4.4% gain in Tesla Inc. The electric car maker has +rebounded 65% in 2023 after losing two-thirds of its value last +year.Money market traders are betting on at least two more 25 +basis point rate hikes this year, with interest rates seen +peaking at 5.28% by July.Also adding to the investor angst were hawkish remarks by +Richmond Fed President Thomas Barkin and Dallas Fed President +Lorie Logan. Barkin said the Fed needs to prioritize quashing +inflation over risks to U.S. economic growth.Wall Street had an upbeat start to the year, lifted by +renewed interest in volatile growth stocks battered in 2022 as +the Fed raised rates aggressively to bring steep prices under +control.The rally, however, stalled last week following signs of a +tight labor market and hawkish commentary from Fed policymakers.The S&P 500 is up about 8% so far in 2023, while the +Nasdaq Composite Index has rebounded about 14%.Investors will closely watch January retail sales data on +Wednesday for hints on consumer spending amid worries of an +economic slowdown.In afternoon trading, the S&P 500 was down 0.20% at +4,129.11 points.The Nasdaq gained 0.07% at 11,900.01 points, while the +Dow Jones Industrial Average was down 0.44% at 34,094.88 +points.Shares of Boeing Co rose 1.8% to their highest in +over a year after Air India unveiled a deal to buy 220 of its +passenger planes.Coca-Cola Co slipped 1.4% despite a strong full-year +profit forecast.Marriott International Inc rose 2.8% after the hotel +operator forecast first-quarter earnings above Wall Street +estimates as it benefited from strong travel demand.Palantir Technologies soared more than 15% after +the data analytics firm forecast its first profitable year.Of the more than half of S&P 500 firms that have reported +results, nearly 69% have beaten profit expectations, as per +Refinitiv on Friday. However, analysts expect fourth-quarter +earnings to fall 2.8% from a year earlier.Across the U.S. stock market, declining stocks +outnumbered rising ones by a 1.3-to-one ratio.The S&P 500 posted 10 new highs and no new lows; the +Nasdaq recorded 60 new highs and 65 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru, +and by Noel Randewich in Oakland, California; Additional +reporting by Stephen Culp in New York; Editing by Sriraj +Kalluvila, Maju Samuel and Richard Chang) \ No newline at end of file diff --git a/news/AMZN/2023.02.14/Wall Street ends mixed as inflation data supports rate worries.txt b/news/AMZN/2023.02.14/Wall Street ends mixed as inflation data supports rate worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..b5ac5384ae8ca09b1d2985a8bc33064698b6a9f3 --- /dev/null +++ b/news/AMZN/2023.02.14/Wall Street ends mixed as inflation data supports rate worries.txt @@ -0,0 +1,40 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Marriott rises on upbeat profit outlook*Coca-Cola Co dips after quarterly report*Palantir surges on forecasting profitable yearFeb 14 (Reuters) -Wall Street stocks ended mixed on Tuesday after U.S. +consumer price data for January offered little to change +expectations about the Federal Reserve's path forward on +interest rate hikes.U.S. consumer prices accelerated as Americans continued to +be burdened by higher rental housing costs, suggesting that the +Fed will maintain a moderate rate hiking path."Inflation remains elevated, albeit it appears to be +slowing," said Terry Sandven, chief equity strategist at U.S. +Bank Wealth Management in Minneapolis. "Looking at today's price +action, I think it might be a little bit of profit-taking on the +heels of strong year-to-date performance."Money market traders are betting on at least two more 25 +basis point rate hikes this year, with interest rates seen +peaking at 5.28% by July.Also adding to the investor angst were hawkish remarks by +Richmond Fed President Thomas Barkin and Dallas Fed President +Lorie Logan. Barkin said the Fed needs to prioritize quashing +inflation over risks to U.S. economic growth.Wall Street had an upbeat start to the year, lifted by +renewed interest in volatile growth stocks battered in 2022 as +the Fed raised rates aggressively to bring steep prices under +control.The rally, however, stalled last week following signs of a +tight labor market and hawkish commentary from Fed policymakers.The S&P 500 is up about 8% so far in 2023, while the Nasdaq +Composite Index has rebounded about 14%.Investors will closely watch January retail sales data on +Wednesday for hints on consumer spending amid worries of an +economic slowdown.According to preliminary data, the S&P 500 lost 1.26 +points, or 0.03%, to end at 4,136.03 points, while the Nasdaq +Composite gained 65.49 points, or 0.55%, to 11,959.08. +The Dow Jones Industrial Average fell 164.41 points, or +0.48%, to 34,081.52.Shares of Boeing Co rose to their highest in over a +year after Air India unveiled a deal to buy 220 of its passenger +planes.Coca-Cola Co slipped despite a strong full-year +profit forecast.Marriott International Inc rose after the hotel +operator forecast first-quarter earnings above Wall Street +estimates as it benefited from strong travel demand.Palantir Technologies soared after the data +analytics firm forecast its first profitable year.Of the more than half of S&P 500 firms that have reported +results, nearly 69% have beaten profit expectations, as per +Refinitiv on Friday. However, analysts expect fourth-quarter +earnings to fall 2.8% from a year earlier. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru, +and by Noel Randewich in Oakland, California; Additional +reporting by Stephen Culp in New York; Editing by Sriraj +Kalluvila, Maju Samuel and Richard Chang) \ No newline at end of file diff --git a/news/AMZN/2023.02.14/World Press Review: February 14.txt b/news/AMZN/2023.02.14/World Press Review: February 14.txt new file mode 100644 index 0000000000000000000000000000000000000000..b4418901436c60b67fa173ea726becc5b2dd3d7b --- /dev/null +++ b/news/AMZN/2023.02.14/World Press Review: February 14.txt @@ -0,0 +1,4 @@ + +Tui, Flutter, Rothschild and Co, Chanel, Thyssenkrupp, Alantra Partners, Liberty Global, Vodafone, Ford, Contemporary Amperex Technology Co, Palantir, Amazon, Alphabet, Netflix, Disney, Spotify, Alibaba, Tencent, Walmart, Uber, Oracle, Apple + + diff --git a/news/AMZN/2023.02.15/'Retail ambitions of Amazon remain'.txt b/news/AMZN/2023.02.15/'Retail ambitions of Amazon remain'.txt new file mode 100644 index 0000000000000000000000000000000000000000..f617a06a089f07aca5513a741bda38c215f30254 --- /dev/null +++ b/news/AMZN/2023.02.15/'Retail ambitions of Amazon remain'.txt @@ -0,0 +1 @@ + Copyright Emerce Amazon may have laid off 18,000 people, but the company still wants to implement its plans to expand its physical stores. That's what CEO Andy Jassy tells the .Amazon bought Whole Foods in 2017 for $13.7 billion, but the company barely dominates the grocery market. The company's physical store division accounts for 3.4 percent of total sales and has only grown about 10 percent since acquiring Whole Foods.'We are still in the early stages,' Jassy told the Financial Times. 'We are hopeful that by 2023 we will have a formula that we can go big with. We have a history of experimenting a lot and rolling out quickly.'Many of the layoffs recently announced by Amazon concern the very supermarket division. Amazon has closed several of its Fresh supermarkets and put plans to open new ones on hold.Almost a year ago, Amazon said it would close all of its bookstores, 4-star stores and pop-up locations in the U.S. and UK.© The Content Exchange, source News \ No newline at end of file diff --git a/news/AMZN/2023.02.15/EU set to investigate Amazon's $1.7 billion iRobot deal - FT.txt b/news/AMZN/2023.02.15/EU set to investigate Amazon's $1.7 billion iRobot deal - FT.txt new file mode 100644 index 0000000000000000000000000000000000000000..31575c4ecd5f51fc53b1fb85b8bc701230ba4b3b --- /dev/null +++ b/news/AMZN/2023.02.15/EU set to investigate Amazon's $1.7 billion iRobot deal - FT.txt @@ -0,0 +1 @@ +Amazon did not immediately respond to a Reuters request for comment.  (Reporting by Samrhitha Arunasalam) \ No newline at end of file diff --git a/news/AMZN/2023.02.15/Itochu to supply renewable energy to Meta in U.S., Amazon in Japan.txt b/news/AMZN/2023.02.15/Itochu to supply renewable energy to Meta in U.S., Amazon in Japan.txt new file mode 100644 index 0000000000000000000000000000000000000000..c1c51065c3a5b78dadea0566a8e2a98efb4ab86a --- /dev/null +++ b/news/AMZN/2023.02.15/Itochu to supply renewable energy to Meta in U.S., Amazon in Japan.txt @@ -0,0 +1 @@ +Itochu would supply wind-generated power to Meta from the Texas-based Prairie Switch Wind project, set to have capacity of 160 megawatts when launched towards the end of this year and where Itochu agreed to invest.Separately, Itochu agreed with Amazon to develop 700 solar power sites to supply the e-commerce giant with renewable power in Japan by next year, Itochu said in a statement. (Reporting by Katya Golubkova; editing by Uttaresh.V) \ No newline at end of file diff --git a/news/AMZN/2023.02.15/S&P 500 ends higher after strong retail sales data.txt b/news/AMZN/2023.02.15/S&P 500 ends higher after strong retail sales data.txt new file mode 100644 index 0000000000000000000000000000000000000000..bfd1a0db7ab7969eb67bede739eea8cd2c5fbdf8 --- /dev/null +++ b/news/AMZN/2023.02.15/S&P 500 ends higher after strong retail sales data.txt @@ -0,0 +1,43 @@ +(Updates with price moves after end of trading session)*Retail sales up 3% in Jan vs. est. of 1.8% rise*TSM slides as Berkshire Hathaway chops stake*Devon Energy drops on profit miss*Indexes: S&P 500 +0.28%, Nasdaq +0.92%, Dow +0.11%Feb 15 (Reuters) - The S&P 500 ended higher on Wednesday +after stronger-than-expected retail sales data offered evidence +of resilience in the U.S. economy, but gains were capped as +investors worried about more interest rate hikes by Federal +Reserve in the months ahead.A Commerce Department report showed retail sales surged 3% +in January as purchases of motor vehicles and other goods pushed +the number well past the 1.8% estimate from economists polled by +Reuters.On Tuesday, data showed U.S. consumer prices accelerated in +January, boosting expectations that the Fed will raise the +policy rate at least twice more this year to the 5-5.25% range."The good news from retail, and broadly from the stronger +economy, has been mostly priced in," said Ross Mayfield, an +investment strategist at Baird in Louisville, Kentucky. "At the +same time, that strength has taken market expectations of rate +cuts off the table and moved the terminal Fed funds rate a +little bit higher."Fueled by a rebound in growth stocks that were hammered in +last year's stock market downturn, the S&P 500 has +climbed 8% so far in 2023, while the Nasdaq has +recovered 15%. A better-than-expected quarterly earnings season +has provided cautious optimism.More than half of all S&P 500 companies have reported +quarterly earnings, and nearly 70% of those have topped profit +expectations, according to I/B/E/S data from Refinitiv. That +compares to a long-term average of 66%.Apple, Alphabet, Amazon and +Tesla rose between 1.4% and 2.4%, driving gains in the +S&P 500 and Nasdaq.The S&P 500 climbed 0.28% to end the session at 4,147.61 +points.The Nasdaq gained 0.92% to 12,070.59 points, while Dow +Jones Industrial Average rose 0.11% to 34,128.05 points.Nine of the 11 S&P 500 sector indexes rose, led by a +1.2% gain in consumer discretionary.Roblox soared 26% after the gaming platform popular +with kids topped quarterly bookings estimates.U.S.-listed shares of Taiwan Semiconductor Manufacturing Co +(TSMC) fell 5.3% after Warren Buffett's Berkshire +Hathaway Inc slashed its stake in the chipmaker.Shares of Airbnb Inc rose over 13% after the +company posted forecast-beating results due to strong travel +demand.Devon Energy slumped about 10% after the shale oil +producer missed expectations for quarterly profit due to a hit +to production from severe cold weather in the United States and +higher expenses.After the bell, Roku surged 14% following a revenue +forecast that beat analysts' expectations.Across the U.S. stock market, advancing stocks +outnumbered falling ones by a 1.4-to-one ratio.The S&P 500 posted 19 new highs and no new lows; the +Nasdaq recorded 84 new highs and 55 new lows.Volume on U.S. exchanges was relatively light, with 10.5 +billion shares traded, compared to an average of 11.8 billion +shares over the previous 20 sessions.(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and by Noel Randewich in Oakland, Calif., additional reporting +by Shristi Achar A; Editing by Savio D'Souza, Anil D'Silva and +David Gregorio) \ No newline at end of file diff --git a/news/AMZN/2023.02.15/Town can't refuse Amazon offer despite Duvall opposition.txt b/news/AMZN/2023.02.15/Town can't refuse Amazon offer despite Duvall opposition.txt new file mode 100644 index 0000000000000000000000000000000000000000..738f6dcc06b4cb57b49686fe0e72d151720b50d3 --- /dev/null +++ b/news/AMZN/2023.02.15/Town can't refuse Amazon offer despite Duvall opposition.txt @@ -0,0 +1 @@ +Actor Robert Duvall was one of more than 100 speakers at a northern Virginia town's council meeting opposing a proposed $550 million data center from Amazon.The Town of Warrenton voted 4-3 early Wednesday morning to approve a special use permit for Amazon, despite Duvall's opposition.The 92-year-old “The Godfather” and “The Great Santini” actor lives on a farm in Fauquier County, which surrounds the town.“We must all work to preserve the character of this town,” Duvall said. “The vast majority of town and county residents agree that this is a bad use of this site.”He received a standing ovation from attendees at the meeting in Fauquier High School at the conclusion of his remarks.The northern Virginia region outside the nation's capital is home to the world's largest concentration of data centers, which house the computer servers and hardware required to support modern internet use, As data centers have expanded, community opposition has increased, and neighbors have expressed concern over noise from the fans required to keep the machines cool.Others express concerns about the data centers' need for electricity and the requirement to build high-voltage transmission lines to support them.Data centers have also been a revenue boon to local governments, and last month Virginia Gov. Glenn Youngkin announced a plan for Amazon Web Services to invest $35 billion in new data centers across the state.In Warrenton, Amazon projects that about 50 workers will be employed at the data center. Supporters said the data center will generate about $900,000 in tax revenue for the town annually.The permit approved by the town includes noise restrictions and bans construction of an electric substation on the site. Distribution lines from the off-site substation that will serve the data center must be constructed underground, according to the permit.The Warrenton council meeting began early Tuesday evening and concluded well after midnight early Wednesday morning.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.02.15/U.S. House Judiciary subpoenas Big Tech CEOs over free speech.txt b/news/AMZN/2023.02.15/U.S. House Judiciary subpoenas Big Tech CEOs over free speech.txt new file mode 100644 index 0000000000000000000000000000000000000000..9aa3172ce2bf5f0ec10bc02d2ab0a504fc99b956 --- /dev/null +++ b/news/AMZN/2023.02.15/U.S. House Judiciary subpoenas Big Tech CEOs over free speech.txt @@ -0,0 +1 @@ +Jordan and other conservatives accused the companies of suppressing conservative speech during the Trump administration, and expanded that accusation to include colluding with the Biden administration once he won the White House. The White House and major tech companies have rejected the allegation."These subpoenas are the first step in holding Big Tech accountable," Jordan's office said in a statement.Microsoft said in an email that it had "started producing documents, are engaged with the Committee, and committed to working in good faith." None of the other four companies immediately responded to a request for comment.The subpoenas were sent to Alphabet's Sundar Pichai, Andy Jassy of Amazon.com, Tim Cook of Apple, Meta's Mark Zuckerberg, and Satya Nadella of Microsoft and demand documents and communications related to alleged collusion between the government and the companies to stifle free speech.Jordan set a March 23 deadline to turn over documents.Republicans who took control of the House of Representatives in January after narrowly winning control in the November elections have made questions about Big Tech a top focus and created a Select Subcommittee on the Weaponization of the Federal Government.Last week, the panel held its first hearing into Republican claims that the Justice Department and FBI show anti-conservative bias, a move made following the FBI's discovery of hundreds of classified documents at Republican former President Donald Trump's Florida resort.Jordan wrote related letters to the companies in December, making similar demands but the House was in Democratic hands and before he became chair. Jordan's office said that the companies did not adequately comply. (Reporting by Diane Bartz, Susan Heavey, David Shepardson and Doina Chiacu; Additional reporting by Jeffrey Dastin; editing by Jonathan Oatis and Nick Zieminski) \ No newline at end of file diff --git a/news/AMZN/2023.02.16/Amazon grants 1.5 million euros to Dutch seaweed farm project.txt b/news/AMZN/2023.02.16/Amazon grants 1.5 million euros to Dutch seaweed farm project.txt new file mode 100644 index 0000000000000000000000000000000000000000..162d50c4dd4aad52583bf6bb19d45e9698f2ba16 --- /dev/null +++ b/news/AMZN/2023.02.16/Amazon grants 1.5 million euros to Dutch seaweed farm project.txt @@ -0,0 +1 @@ +The project, led by non-profit group North Sea Farmers, will also research the potential of using seaweed for carbon capture.Hundreds of thousands of hectares (acres) of the Dutch North Sea have been earmarked for wind parks as the government seeks to build 21 gigawatts of offshore wind power by 2030 and will be closed for shipping. The spaces between the turbines will be mostly unused.Other projects are looking at the feasibility of operating floating solar panels between the turbines.The Amazon grant will used to build a 10 hectare seaweed farm, called North Sea Farm 1, which organisers said would be finished by the end of 2023 and would produce about 6,000 kgs of fresh seaweed annually.($1 = 0.9339 euros) (Reporting by Toby Sterling; Editing by Edmund Blair) \ No newline at end of file diff --git a/news/AMZN/2023.02.16/World Press Review: February 16.txt b/news/AMZN/2023.02.16/World Press Review: February 16.txt new file mode 100644 index 0000000000000000000000000000000000000000..e25fa833a75d69d2a97d9feb0b1e24665e9898b8 --- /dev/null +++ b/news/AMZN/2023.02.16/World Press Review: February 16.txt @@ -0,0 +1,4 @@ + +Nestlé, Airbus, Renault, Schneider Electric, Aveva, Pernod Ricard, Standard Chartered, Amazon, ASML, Heineken, Repsol, Grifols, Cisco, Tesla, Meta, Roku, AIG, BYD, Newcrest Mining & Newmont + + diff --git a/news/AMZN/2023.02.17/Amazon EC2 X2iedn instances now available in Asia Pacific (Osaka) region.txt b/news/AMZN/2023.02.17/Amazon EC2 X2iedn instances now available in Asia Pacific (Osaka) region.txt new file mode 100644 index 0000000000000000000000000000000000000000..18bb5e426bf73eb72c71057237764f9418018f61 --- /dev/null +++ b/news/AMZN/2023.02.17/Amazon EC2 X2iedn instances now available in Asia Pacific (Osaka) region.txt @@ -0,0 +1 @@ +Starting today, memory optimized Amazon EC2 X2iedn instances are available in Asia-Pacific(Osaka) region.X2iedn instances are powered by 3rd generation Intel Xeon Scalable Processors and delivers improvements in performance, price performance, and cost per GiB of memory compared to previous generation X1e instances. X2iedn instances have a memory to vCPU ratio of 32:1 and are great fit for memory-intensive workloads such as databases and analytics, and big data processing engines. X2iedn instances are SAP-certified for running Business Suite on HANA, SAP S/4HANA, Data Mart Solutions on HANA, Business Warehouse on HANA, SAP BW/4HANA, and SAP NetWeaver workloads on any database. You can view the certification data for X2iedn on the Certified and Supported SAP HANA Hardware Directory.X2iedn instances offer up to 80 Gbps bandwidth and 260K IOPS for Amazon Elastic Block Store (Amazon EBS), and are designed to meet the reliability needs of mission-critical workloads. X2iedn is available in six different virtualized sizes, xlarge, 2xlarge, 4xlarge, 8xlarge, 16xlarge, 24xlarge and 32xlarge and as a bare metal instance. The X2iedn instance is built on the AWS Nitro System that offloads many of the traditional virtualization functions to dedicated hardware, delivering high performance, high availability, and highly-secure cloud instances.With this launch, X2iedn instances are available in the following AWS Regions: US East (Ohio), US East (N. Virginia), US West (Oregon), Asia Pacific (Jakarta), Asia Pacific (Mumbai), Asia Pacific (Osaka), Asia Pacific (Seoul), Asia Pacific (Singapore), Asia Pacific (Sydney), Asia Pacific (Tokyo), Europe (Frankfurt), Europe (Ireland), Europe (London), Europe (Milan), Europe (Paris), Europe (Stockholm), Canada (Central), South America (Sao Paulo), and AWS GovCloud (US). X2iedn will be available for purchase with Savings Plans, Reserved Instances, Convertible Reserved, On-Demand, and Spot instances, or as Dedicated instances or Dedicated hosts. To learn more, visit the EC2 X2i Instances Page, or connect with your AWS Support contacts.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMZN/2023.02.17/Amazon asks employees to be in office at least three days a week.txt b/news/AMZN/2023.02.17/Amazon asks employees to be in office at least three days a week.txt new file mode 100644 index 0000000000000000000000000000000000000000..56f7a36fe81e5ef2ddd9a594f59c26f468e791c2 --- /dev/null +++ b/news/AMZN/2023.02.17/Amazon asks employees to be in office at least three days a week.txt @@ -0,0 +1 @@ +The COVID-19 pandemic had altered the workplace, with companies sending employees home to work remotely. Even as lockdowns eased around the world, a large population of employees remains remote or in a hybrid environment.In a message that was posted on Amazon's blog, chief executive Andy Jassy wrote the decision was taken at a meeting earlier this week and the move would make it easier to learn and collaborate."This shift will provide a boost for the thousands of businesses located around our urban headquarter locations in the Puget Sound, Virginia, Nashville, and the dozens of cities around the world where our employees go to the office," Jassy wrote.The company added there would be some exceptions to the rule - customer support roles and salespeople would have the option of working remotely.Amazon had said in October 2021 it would let individual teams decide how many days corporate employees would be expected to work from office in a week. (Reporting by Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git "a/news/AMZN/2023.02.17/New Book \"the Time Agents : Search for the Leon Key\" by Sam Libraty is released, an advent...txt" "b/news/AMZN/2023.02.17/New Book \"the Time Agents : Search for the Leon Key\" by Sam Libraty is released, an advent...txt" new file mode 100644 index 0000000000000000000000000000000000000000..95c86d4782387be517d296debbf20529eaa0019e --- /dev/null +++ "b/news/AMZN/2023.02.17/New Book \"the Time Agents : Search for the Leon Key\" by Sam Libraty is released, an advent...txt" @@ -0,0 +1 @@ +"The Time Agents: Search for the Leon Key" by Sam Libraty has been released worldwide. This 196-page science fiction novel, which achieved Amazon Bestseller status as #10 in the Time Travel category and #19 in the Space Opera category, follows time agent Jon Howe as he travels across time and into a parallel world. Leaving the 25th century and arriving in 1939 Morocco, Jon teams up with the mysterious Shoshanna against a vicious dictator, Moogur, and his army of invading soldiers.As the pair discovers dictator Moogur's plot to take over both realities, an unlikely romance blossoms - and adds to their challenges. Fighting to reclaim the Leon Key before the Nazis can use it to bridge the rift between the two worlds, Jon and Shoshanna must come to grips with their differences, uncover secrets, and beat the odds to save both of their homes.Inspired by classic sci-fi writers like Robert Heinlein, Arthur C. Clarke, Isaac Asimov, Robert Silverberg, and others, this first installment of the Time Agents series draws from the rich tradition of futuristic technology, space, and time travel while also including elements of romance, mystery, and even detective noir. With compelling characters and a unique double world to explore, readers will be drawn into the story and kept in suspense as unexpected turns threaten Jon's mission.The Time Agents: Search for the Leon Key (ISBN: 9798215127841) can be purchased through retailers worldwide, including Barnes and Noble and Amazon. The paperback retails for $14.99, and the ebook retails for $2.99. Review copies and interviews are available for free upon request.Learn more at https://www.samlibraty.com/About the book:The Time Agents: Search for the Leon KeyVolume One of the Time Agents SeriesFrom author Sam Libraty comes a new science fiction contemporary series, The Time Agents. Book one of this series follows time agent Jon Howe as he travels from the 25th century to 1939 Morocco to stop an invasion from a parallel universe.Jon faces many challenges when he teams up with a beautiful and powerful woman from the parallel world, Shoshanna. Together, they must get the Leon Key away from the Nazis and use it to cross a rift between worlds. But not all is as it seems. Will Jon be able to cross to the other world, defeat a maniacal dictator and get the girl?About the author:Sam Libraty, raised in Pittsburgh, PA., was enamored with science fiction from an early age. His first encounter with science fiction was at age 7 when he discovered the Twilight Zone and Star Trek. One of the key moments in his life was, at age 15, meeting Gene Roddenberry, creator of Star Trek. After spending the afternoon talking about science fiction, the seed was planted. Sam knew that someday he would write science fiction.Sam studied music at Kent State University and Towson State University. After college, Sam dedicated his life to performing music, but with the birth of his first son, he changed his career to work in film and television.Some of his favorite authors are the Deans of science fiction from the 1950s-2020s. Authors such as Robert Heinlein, Arthur C. Clarke, Harlan Ellison, Robert Silverberg, and many contemporary writers.After a long career in entertainment, he began writing science fiction in his spare time. His first book, The Time Agents: Search for the Leon Key, was published in 2022.Sam is currently working on his next novel, The Time Agents: Fast Forward. Besides writing, he enjoys spending time with his family and friends, listening to music, and reading and watching good science fiction. Sam now lives in Los Angeles, California, with his wife Tam and cats, Noki and Mochi.Media ContactCompany Name: MindStir Media LLCContact Person: Jen McNabneyEmail: press@mindstirmedia.comPhone: 800-767-0531Address:1 New Hampshire Ave Suite 125City: PortsmouthState: NHCountry: United StatesWebsite: https://mindstirmedia.com/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AMZN/2023.02.17/S&P 500 ends down as investors fret about interest rates.txt b/news/AMZN/2023.02.17/S&P 500 ends down as investors fret about interest rates.txt new file mode 100644 index 0000000000000000000000000000000000000000..b731aa2c3a0d129913efebcaa39c6a7b99d1c1ab --- /dev/null +++ b/news/AMZN/2023.02.17/S&P 500 ends down as investors fret about interest rates.txt @@ -0,0 +1,40 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Defensive stocks limit market losses*Moderna slides after mixed data from flu vaccine trial*U.S. markets closed on Monday for Presidents' DayFeb 17 (Reuters) -The S&P 500 ended lower on Friday, weighed down by Microsoft +and Nvidia as investors worried that inflation and a strong U.S. +economy could put the Federal Reserve on pace for more interest +rate hikes.The see-saw session on Wall Street followed economic data +this week that pointed to elevated inflation, a tight job market +and resilience in consumer spending, giving the Fed more room +for to raise borrowing costs.Goldman Sachs and Bank of America forecast three more rate +hikes this year and by a quarter of a percentage point each, up +from their previous estimate of two rate rises.Traders are expecting at least two more rate increases and +see the Fed rate peaking at 5.3% by July as central bank +attempts to cool the economy and reduce inflation."A dark cloud has drifted over the stock market in the last +two weeks based on a higher watermark for the Fed funds rate," +said Jake Dollarhide, chief executive officer of Longbow Asset +Management in Tulsa, Oklahoma."The jobs numbers aren't getting weaker, and it's hard to go +into a recession with a strong labor market at the same time. +That means the Fed could push the button and move rates higher," +Dollarhide said.Microsoft Corp, Nvidia and Amazon.com Inc +lost ground and weighed heavily on the S&P 500 as the +yield on 10-year Treasury notes hit a three-month +high.The CBOE Volatility index, also known as Wall +Street's fear gauge, traded above 20 points for a second session +in a row.According to preliminary data, the S&P 500 lost 10.99 +points, or 0.27%, to end at 4,079.42 points, while the Nasdaq +Composite lost 68.56 points, or 0.58%, to 11,786.34. The +Dow Jones Industrial Average rose 133.73 points, or +0.40%, to 33,828.44.The S&P 500 has gained about 6% so far in 2023, while the +Nasdaq has rebounded about 13% following deep losses last year.Adding to recent worries about monetary policy, Fed Governor +Michelle Bowman said the central bank will need to keep raising +interest rates until it makes much more progress tackling +inflation. Richmond Fed President Thomas Barkin said the central +bank still needs to raise interest rates, but that it could +stick with quarter-point increases.Moderna Inc fell after its experimental messenger +RNA-based influenza vaccine delivered mixed results in a study.Deere & Co surged after the world's largest farm +equipment maker raised its annual profit and beat quarterly +earnings expectations.Lithium miners Livent Corp, Albemarle Corp +and Piedmont Lithium Inc slumped due to concerns about +weakness in Chinese prices for the EV battery metal.U.S. stock markets will be closed on Monday on account of +Presidents' Day.(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/AMZN/2023.02.17/Wall St drops on mounting worries about Fed staying hawkish.txt b/news/AMZN/2023.02.17/Wall St drops on mounting worries about Fed staying hawkish.txt new file mode 100644 index 0000000000000000000000000000000000000000..03090d71ae7a27be378b1a20d16de265b089ed81 --- /dev/null +++ b/news/AMZN/2023.02.17/Wall St drops on mounting worries about Fed staying hawkish.txt @@ -0,0 +1,44 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Defensive stocks limit market losses*Moderna slides after mixed data from flu vaccine trial +U.S. markets closed on Monday for Presidents' Day*Indexes down: Dow 0.18%, S&P 0.91%, Nasdaq 1.41%Feb 17 (Reuters) - U.S. stock indexes fell on Friday, +weighed down by energy and megacap growth names, as investors +worried that inflation and signs of strength in the U.S. economy +could put the Federal Reserve on pace for more interest rate +hikes.Wall Street indexes turned volatile this week following a +strong start to 2023 as economic data pointed to elevated +inflation, a tight job market and resilience in consumer +spending, giving the Fed more room for to raise borrowing costs.Goldman Sachs and Bank of America forecast three more rate +hikes this year and by a quarter of a percentage point each, up +from their previous estimate of two rate rises.Traders are expecting at least two more rate increases and +see the Fed rate peaking at 5.3% by July."Anything strong in terms of data is a sign of an overheated +economy, where the Fed is going to have to continue to raise +interest rates, either pushing them higher or keeping them +higher for longer," Robert Pavlik, senior portfolio manager at +Dakota Wealth said."So investors feel that the central bank is going to kill +the economy by jacking rates up too many times."Seven of the 11 major S&P sectors were lower, with energy +stocks sliding 3.6% as oil prices tumbled almost 3%.Rate-sensitive megacap names like Microsoft Corp, +Apple Inc and Amazon.com Inc lost more than 1% +as the yield on 10-year Treasury notes hit a +three-month high.Defensive sectors, which tend to outperform during economic +uncertainty, such as healthcare, consumer staple +and utilities gained.The CBOE Volatility index, also known as Wall +Street's fear gauge, traded above 20 points for a second session +in a row.At 12:51 p.m. ET, the Dow Jones Industrial Average +was down 60.12 points, or 0.18%, at 33,636.73, the S&P 500 +was down 37.34 points, or 0.91%, at 4,053.07, and the +Nasdaq Composite was down 167.37 points, or 1.41%, at +11,688.46.Adding to the gloom, Richmond Fed president Thomas Barkin +and Fed governor Michelle Bowman joined the chorus of officials +advocating for more rate hikes.Moderna Inc fell 5% after its experimental +messenger RNA-based influenza vaccine delivered mixed results in +a study.Deere & Co surged 7.6% after the world's largest farm +equipment maker raised its annual profit and beat quarterly +earnings expectations.Lithium miners Livent Corp, Albemarle Corp +and Piedmont Lithium Inc fell between 9% and 13% due to +weakness in Chinese price for the EV battery metal.U.S. markets will be closed on Monday on account of +Presidents' Day.Declining issues outnumbered advancers for a 2.08-to-1 ratio +on the NYSE and 1.36-to-1 ratio on the Nasdaq.The S&P index recorded six new 52-week highs and one new +low, while the Nasdaq recorded 55 new highs and 54 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; +Editing by Alden Bentley, Anil D'Silva, Sriraj Kalluvila and +Arun Koyyur) \ No newline at end of file diff --git a/news/AMZN/2023.02.17/Wall Street drops as investors fret about interest rates.txt b/news/AMZN/2023.02.17/Wall Street drops as investors fret about interest rates.txt new file mode 100644 index 0000000000000000000000000000000000000000..24b847c0ddad06bf32a0b8786c361f2f526fb0df --- /dev/null +++ b/news/AMZN/2023.02.17/Wall Street drops as investors fret about interest rates.txt @@ -0,0 +1,44 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Defensive stocks limit market losses*Moderna slides after mixed data from flu vaccine trial*U.S. markets closed on Monday for Presidents' Day*Indexes: S&P 500 -0.79%, Nasdaq -1.24%, Dow -0.08%Feb 17 (Reuters) -Wall Street dropped on Friday, weighed down by Microsoft and +Nvidia as investors worried that inflation and a strong U.S. +economy could put the Federal Reserve on pace for more interest +rate hikes.The main indexes were on track to lose ground for the week +as economic data pointed to elevated inflation, a tight job +market and resilience in consumer spending, giving the Fed more +room for to raise borrowing costs.Goldman Sachs and Bank of America forecast three more rate +hikes this year and by a quarter of a percentage point each, up +from their previous estimate of two rate rises.Traders are expecting at least two more rate increases and +see the Fed rate peaking at 5.3% by July as central bank +attempts to cool the economy and reduce inflation."A dark cloud has drifted over the stock market in the +last two weeks based on a higher watermark for the Fed funds +rate," said Jake Dollarhide, chief executive officer of Longbow +Asset Management in Tulsa, Oklahoma."The jobs numbers aren't getting weaker, and it's hard +to go into a recession with a strong labor market at the same +time. That means the Fed could push the button and move rates +higher," Dollarhide said.Of the 11 S&P 500 sector indexes, seven declined, led lower +by energy, down 3.75%, followed by a 1.73% loss in +information technology.Microsoft Corp, Nvidia and Amazon.com Inc +lost more than 2% each and weighed heavily on the S&P +500 as the yield on 10-year Treasury notes hit a +three-month high.The CBOE Volatility index, also known as Wall +Street's fear gauge, traded above 20 points for a second session +in a row.In afternoon trading, the S&P 500 was down 0.79% at 4,058.27 +points.The Nasdaq declined 1.24% to 11,708.36 points, while the +Dow Jones Industrial Average was down 0.08% at 33,668.55 points.The S&P 500 has gained about 6% so far in 2023, while the +Nasdaq has rebounded 12% following deep losses last year.Adding to the gloom, Fed Governor Michelle Bowman said the +central bank will need to keep raising interest rates until it +makes much more progress tackling inflation. Richmond Fed +President Thomas Barkin said the central bank still needs to +raise interest rates, but that it could stick with quarter-point +increases.Moderna Inc fell 5% after its experimental +messenger RNA-based influenza vaccine delivered mixed results in +a study.Deere & Co surged over 8% after the world's largest +farm equipment maker raised its annual profit and beat quarterly +earnings expectations.Lithium miners Livent Corp, Albemarle Corp +and Piedmont Lithium Inc all fell more than 10% due to +concerns about weakness in Chinese prices for the EV battery +metal.U.S. stock markets will be closed on Monday on account of +Presidents' Day.Across the U.S. stock market, declining stocks +outnumbered rising ones by a 1.7-to-one ratio.The S&P 500 posted six new highs and one new low; the +Nasdaq recorded 55 new highs and 57 new lows.(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/AMZN/2023.02.19/Wall St Week Ahead-Retailers' results may be next test for rally in U.S. stocks.txt b/news/AMZN/2023.02.19/Wall St Week Ahead-Retailers' results may be next test for rally in U.S. stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..d4be7dbbae3d6a68109b6f8c3833e5b02e81f0a4 --- /dev/null +++ b/news/AMZN/2023.02.19/Wall St Week Ahead-Retailers' results may be next test for rally in U.S. stocks.txt @@ -0,0 +1,58 @@ +NEW YORK, Feb 17 (Reuters) - Earnings results from major +retailers in the coming weeks will test the strength of the U.S. +stock market rally, as investors gain insight into the health of +consumer spending and the fallout on company bottom lines from +inflation.As a tepid fourth-quarter results season comes to an end, +Walmart and Home Depot are set to report in the +coming week, with other high-profile retailers including Best +Buy and Lowe's due the following week. +How consumers are faring amid soaring prices will be a +critical topic for investors, as some have become more confident +that the economy will be able to avoid a severe downturn even as +the Federal Reserve continues hiking rates to tamp down +inflation.One sign of economic resilience came in the past week, when +monthly data showed U.S. retail sales increased by the most in +nearly two years in January.“The retail sales numbers were reasonably strong, and we +want to see that confirmation come from the retailers +themselves,” said Paul Nolte, market strategist at Murphy and +Sylvest Wealth Management.Nolte is considering buying home-improvement retailer stocks +that were hit hard in 2022 as the housing market struggled.Stocks have run up despite underwhelming fourth-quarter +earnings that has S&P 500 firms on track to post a 2.8% drop in +profits from the year-ago period, according to Refintiv IBES. +Other companies set to report next week include chip company +Nvidia, COVID-19 vaccine maker Moderna and +e-commerce firm eBay.The S&P 500 has gained 6.5% so far in 2023 as of Thursday, +with stocks bouncing back from a brutal performance last year.Retail stocks have put up mixed returns so far in 2023. The +SPDR S&P Retail ETF, which weights small and large +companies fairly evenly, has jumped 17% this year. But the +performance has been less rosy for some of the biggest +companies.Shares of Walmart, the world's largest retailer by sales, +have gained only 1.7% in 2023, while shares of Home Depot, the +top U.S. home improvement chain, are also up 1.7%. Both +companies are set to report on Tuesday and will "set the stage +for everyone else," according to JPMorgan retail analysts."We expect HD and WMT’s tone on guidance and the consumer to +be cautious at best," the JPMorgan analysts wrote in an earnings +preview note this week. They rate Walmart shares "neutral" and +Home Depot as "overweight."Among the other retailers set to report in the coming week +are TJX Companies and Bath & Body Works.Peter Tuz, president of Chase Investment Counsel, said he +will be watching to see if retailers have been able to push up +prices to match their costs.His firm holds shares of a variety of retailers including +discounter Dollar Tree and specialty retailers Crocs +and Ulta Beauty, but does not own broad +retailers like Walmart and Amazon."We are clearly emphasizing retailers in select industries +versus the mass market retailers," Tuz said. "With the mass +retailers, it’s just harder to identify what is going to make +them grow.”Investors next week will also focus on Wednesday's release +of minutes from the Fed's latest meeting, when the central bank +scaled back its rate hikes to a quarter-point after a year of +heftier raises.Since that meeting, data has shown U.S. consumer prices +accelerating and monthly producer prices increasing by the most +in seven months in January.Together with a strong U.S. jobs report, the data has led +investors to push up expectations for how high the Fed will +raise rates and how long they will stay elevated, with futures +now pricing in a peak rate of over 5.2% in July.Extremely robust retailer earnings could fuel worries about +a more hawkish response from the Fed, said Chuck Carlson, chief +executive officer at Horizon Investment Services."If those numbers come in and are really, really, really +strong, that could be this idea that too much good news is bad +news from a Fed perspective,” Carlson said.(Reporting by Lewis Krauskopf +Editing by Bill Berkrot) \ No newline at end of file diff --git a/news/AMZN/2023.02.20/The Patent Flywheel : Driving A Culture Of Innovation.txt b/news/AMZN/2023.02.20/The Patent Flywheel : Driving A Culture Of Innovation.txt new file mode 100644 index 0000000000000000000000000000000000000000..a2a9de5cdbbef0a1cc713ba8e627f06345733f5d --- /dev/null +++ b/news/AMZN/2023.02.20/The Patent Flywheel : Driving A Culture Of Innovation.txt @@ -0,0 +1,12 @@ +Technology is advancing at a blistering pace. It permeates every area of our modern lives - from the specially-formulated shampoo we use in the shower to fight dandruff, to the fuel-efficient and electric cars in which we drive to work, to the synthetic materials used to create the clothing we wear. Many companies want to be a part of this future by being at the forefront of these advancements in technology. Going from a "good" company to a market leader - a "great" company - requires a culture where innovation is celebrated and efficiently generated systematically.Jim Collins, in his number one best-selling book Good to Great (Random House Business Books, 2001), introduces an insightful framework for establishing company culture using the image of a mechanical flywheel. The flywheel captures his impression of "the overall feel of what it was like inside companies that went from good to great." We believe that a particular flywheel architecture including as components the activities of patent filing and strategic portfolio management drives a company's high performance innovation culture: a culture that systematically and continuously generates market leading technology.PatentsFamiliar companies whose products and services we use daily spend billions of dollars on research and development. According to the Intellectual Property Owners Association, Microsoft and Apple spend $20 billion USD a year on R&D, while Amazon reportedly spends a similar amount. The creations that come out of those organizations - Windows, the iPad, Amazon Web Services - are woven into the fabric of our daily lives. Each of those companies are valued in the hundreds, if not thousands, of billions of dollars, because of these creations that we use every day. Each of these companies has at least one thing in common - thousands of patents. In 2022 alone, Microsoft received 1888 patents, Amazon received 2051 patents, and Apple received 2313 patents.Strong patents can be directly valuable: they can and do result in a windfall for companies that identify and pursue infringers. Among other large awards, in 2018, a Delaware jury awarded IBM $82.5 million in 2018 in its suit against Groupon.But value need not come only from a successful infringement suit. Patents are assets, like hardware, furniture, and real property. IP questions are often the first thing venture capital outfits ask when looking to invest. A 2006 study by Hsu et al, "Patents as Quality Signals for Entrepreneurial Ventures," found that doubling the size of a patent portfolio led to a 28% increase in overall valuation. A 2021 study by Richardson et al. (available athttps://www.ipwatchdog.com/2017/04/18/2016-patent-prices-key-diligence-data/id=81708) found that the asking price for the average patent was $208,000.Patents are most valuable as assets when they are filed and managed to align with the company's business, product, and technology strategies. For example, patents can be strategic assets when the claims protect future value streams enabling a company to essentially commercialize the patented innovations exclusively. Strategically aligned patents further provide the opportunity to capture all of the economic value that the patented innovations generate. Such patents protect future profit and revenue streams when directed to differentiating and market leading features or functions. A company can also leverage patents defensively and offensively to capture all of the economic value that the patents themselves generate. For example, to mitigate litigation or competitive risks, patents can be used for counter-assertion or deterrence. Finally, the more value protected by the patent, the more valuable the patent, not only from owning, but also through licensing or selling the patent to a third-party.A well executed patent filing, acquisition, and portfolio management program, therefore, can be a strategic and competitive advantage for an innovative company. Nevertheless, it is an advantage when patents not only merely protect innovations, but more important, when filing patents also contribute to the generation of more innovations. Applying the flywheel framework, we believe that an operationally efficient patent program that is aligned with a company's strategies will increase inventor engagement and drive a high performance innovation culture that systematically generates market leading technology.Innovation FlywheelIn Good to Great, Jim's flywheel is a massive 5000 pound metal disk mounted horizontally on an axle. The task is to get the flywheel rotating on the axle as fast and as long as possible. Pushing the disk initially even with great effort only produces imperceptible results. For example, at first the flywheel only inches forward. After persistent effort the flywheel eventually completes one entire turn. With continued effort in a consistent direction, the flywheel turns through two. four. one hundred. one thousand rotations per minute, building speed and momentum with each turn. Then, at some point, there is a breakthrough moment. In that moment, the momentum of the flywheel drives it forward with its own weight even with less effort than during the first turn. Each turn builds upon the work done previously compounding investments of effort. Collins writes: "The huge heavy disk flies forward, with almost unstoppable momentum."Observing companies experiencing the good-to-great transformations, Collins found the flywheel analogy compelling. No single defining action, program, nor killer innovation, explained how the transformations happened. Instead, transformations came about by a cumulative process: step by step, action by action, decision by decision, i.e. turn by turn of the flywheel, which added up to sustained and exceptional performance. In fact, what we experience or observe as company culture is actually those interlocking components comprising the steps, actions, and decisions that build one upon another to drive unstoppable momentum: the flywheel effect.The flywheel framework was so compelling that Amazon invited Jim to engage CEO Jeff Bezos and his executive team to teach them the flywheel effect in the midst of the dot-com crisis. In a 2019 follow-up to Good to Great, Collins shares the disciplined thought process for creating the first Amazon flywheel. Bezos and his lieutenants sketched their flywheel to articulate the magic momentum necessary to drive the enterprise at its best and infuse the culture with an obsession to create more value for more customers. Amazon committed fully to its flywheel and rode its momentum to becoming one of the most successful and enduring companies emerging out of the dot-com era.Innovation cultures are essential for consistently creating differentiating technology and an enduring competitive advantage in the marketplace. The underlying flywheel architecture of any company culture includes four to six interlocking components representing activities such that each component follows from the previous to create a circular path back to the first component. In other words, the interlocking components form a loop that cycles back upon itself to accelerate momentum driving the flywheel forward. A high performance innovation culture necessarily involves compounding interlocking components generating and commercializing new ideas and inventions. A portfolio of patents that meet the requirements for filing and allowance in any patent office anywhere in the world includes probably the most valuable and thoroughly curated ideas and innovations in any company.To file a patent application first you must start with an invention disclosure describing in some detail the concept that is the inventor's solution to a technological problem. After the invention is captured, a patent attorney along with other stakeholders in the company review the disclosure and evaluate whether to file a patent to protect the invention. Based on the intrinsic value of the underlying invention or the strategic importance of the patent, the patent attorney files one or more patent applications claiming the invention in relevant jurisdictions worldwide.Every filed application includes a written description and diagrams drafted by either the in-house patent attorney or by law firm patent counsel engaged by the company. The filed application describes the invention in a narrative form to tell the problem-solution story and to define the scope of protection claimed. Once filed within 18 months the claimed invention is published, except when non-publication is requested in the United States (US), in which case the invention will be publicly available only after a patent is granted by the US patent office. After prosecuting the application and negotiating with a patent office the scope of allowable subject matter, if any, the company receives a granted patent.Inventors are generally excited about successfully receiving a granted patent since it provides for them recognition as experts inside and outside the company. Many companies have rewards programs that compensate inventors financially for filing and successfully receiving granted patents, further incentivizing the disclosure of more inventions.Often, in-house patent attorneys periodically present internal reports and other communications about filed and granted patents to senior executives and technology and marketing leaders throughout the company. Also, in-house patent attorneys provide training to employees using previously filed and granted patents as examples of subject matter eligible for protection. These presentations, reports, trainings, and communications help scale and cross-pollinate innovations by making more innovators aware of the work that results in patents or potential improvements to patented solutions. After such awareness activities, inventors inevitably submit more invention disclosures.These patent filing components establish the patent-to-innovation flywheel generating recurring loops of patented inventions for disclosure, filing, publication, grant, inventor recognition, and consequently, more inventing, which contribute to the magic momentum driving a high performance innovation culture.The patent flywheel, however, requires buy-in from senior leadership and other stakeholders to start and keep it spinning. This can be difficult to do, given the cost. AIPLA estimates that the average cost for preparation and filing of one U.S. patent application on software innovations, for example, is about $13,000, while each office action response can cost $3,500. The average cost for one patent starts at about $40,000 USD.A strong patent program needs to get buy-in from the innovators as well. A 2016 survey of patent programs by Lecorpio found an interesting statistic: eighty percent of companies provide some form of inventor incentive. Many of the well-known companies that create our future have them.Apple's program reportedly awards $4,000 USD per filing. In addition to reported financial compensation, Microsoft awards stackable "patent cubes" and Amazon gives its inventors interlocking acrylic puzzle pieces. Other successful patent programs include public acknowledgements or competitive prizes for the most innovative engineer/team. These incentives, while relatively inexpensive, are prized by engineering teams at companies around the world. Companies should embrace these relatively modest investments for creating valuable innovations.It's not enough to simply set up a program. Like the flywheel, it can drive itself if it is set in motion without significant friction within and between the interlocking components.Three critical components for successful, frictionless programs are:While these processes can add significant friction and slow the flywheel, a carefully architected flywheel drives forward momentum. The flywheel framework does not only apply to driving the success of iconic technology companies like Amazon navigating economic crises. The flywheel effect can be found in any organization, department, or team producing repeatable successes arising from compounding steps, actions, and decisions. Tracing around the patent-to-innovation flywheel, the logic is inexorable: each component sets up the next component essentially throwing you around the innovation loop. The magic momentum is seeing the results, feeling the flywheel beginning to build speed. That's when inventors and stakeholders line up to throw their shoulders against the disk and push. And that's what drives a high performing innovation culture.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Christopher Johns +Finnegan, Henderson, Farabow, Garrett & Dunner, LLP +901 New York Avenue, NW +Washington, DC +20001-4413 +UNITED STATES +Tel: 2024084000 +Fax: 2024084400 +E-mail: info@finnegan.com +URL: www.finnegan.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AMZN/2023.02.21/AWS Announces AWS Telco Network Builder.txt b/news/AMZN/2023.02.21/AWS Announces AWS Telco Network Builder.txt new file mode 100644 index 0000000000000000000000000000000000000000..89fcc69877abef2f7c8420ae5cf5125492e8ad83 --- /dev/null +++ b/news/AMZN/2023.02.21/AWS Announces AWS Telco Network Builder.txt @@ -0,0 +1,29 @@ + +Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today announced the general availability of AWS Telco Network Builder, a fully managed service that helps customers deploy, run, and scale telco networks on AWS. Now, communications service providers (CSPs) can use their familiar telecom industry standard language to describe the details of their network (e.g., connection points, networking requirements, compute needs, and geographical distribution) in a template uploaded to the service. AWS Telco Network Builder translates the template into a cloud-based network architecture and provisions the necessary AWS infrastructure, shortening the deployment of an operational, cloud-configured telco network from days to hours. As customers update their networks, AWS Telco Network Builder automatically adjusts compute and storage resources, allowing CSPs to focus on business operations and deliver new services. AWS Telco Network Builder provides a centralized dashboard to monitor and manage the network running on AWS infrastructure – whether on premises or in AWS Regions. There are no upfront commitments or fees to use AWS Telco Network Builder, and customers pay only for the AWS services used to manage their network. To learn more, visit aws.amazon.com/tnb. + +CSPs want to take advantage of the cloud’s performance, elasticity, and scale to build modern telco networks that support emerging use cases like smart cities, autonomous vehicles, and robotics. However, designing and scaling a telco network in the cloud can be a laborious, time-intensive process due to the iterative nature and breadth of network use cases, such as business support systems, mobile core, and radio networks. CSPs must first deploy and securely interconnect hundreds of specialized network functions (NFs)—containerized network appliances, like routers and firewalls—across dozens of vendors and thousands of locations, often hardcoding the infrastructure’s parameters when replicating across deployment locations. Once the NFs are deployed, the CSP must update each NF individually to incorporate new software capabilities or make configuration changes, which is time-consuming work that strains resources. Building and running the network also requires skilled network architects with experience in cloud design and management. Additionally, CSPs must often purchase, setup, and maintain separate monitoring tools to observe the health of their on-premises and cloud-based infrastructures, making it challenging to obtain a complete view of their networks and address issues. As a result, CSPs can sometimes allocate too many resources to the undifferentiated heavy lifting of network management instead of focusing on innovating new experiences. + +AWS Telco Network Builder is a fully managed network automation service that enables CSPs to deploy, run, and scale their telco networks on AWS faster and more easily. To start, a CSP populates their network architecture (e.g., routing requirements, location of deployment, specific NFs) as a template in the service’s console using telecom industry standard language, making it intuitive and easy to begin. AWS Telco Network Builder translates the customer’s network specifications into a cloud-based network architecture, streamlining programming requirements across multiple software vendors and accounting for the network’s geographic footprint. AWS Telco Network Builder automatically maps the provided topology to network services, provisions the necessary compute and storage resources, and connects the NFs to create an operational telco network. Customers can then reuse the uploaded templates to replicate that network architecture in new regions. As customers change their network configuration or run software updates, AWS Telco Network Builder handles lifecycle management for the NFs, performs updates to the NFs, and adjusts related infrastructure. Together, AWS Telco Network Builder and Amazon CloudWatch provide a comprehensive view of the NFs and AWS infrastructure, so customers can efficiently monitor and manage their networks to identify and remediate issues more quickly. AWS Telco Network Builder also integrates with popular third-party, end-to-end orchestrators for CSPs to maintain continuity across existing telco network operations and business systems. With AWS Telco Network Builder, customers only pay for the AWS products and services they use, so they can quickly scale their network based on business requirements. + +“The telecom industry is undergoing a transformation as CSPs navigate building their telco networks in the cloud,” said Jan Hofmeyr, vice president of Amazon Elastic Compute Cloud (Amazon EC2). “Some of the biggest challenges CSPs face as they look to migrate include manually configuring and then managing these complex networks, which impedes growth and stifles innovation. Groundbreaking in the value it provides to the telecom industry, AWS Telco Network Builder removes the burden of translating a customer’s desired telco network into a cloud architecture, empowering them to easily modernize and quickly scale to meet demand while freeing time and capital to build new offerings, expand coverage, and refocus on invention.” + +AWS Telco Network Builder is generally available today in US East (N. Virginia), US West (Oregon), Asia Pacific (Sydney), Europe (Frankfurt), and Europe (Paris), and with availability in additional AWS Regions coming soon. + +Amdocs is a leading provider of software and services to communications and media companies. "The current era of 5G cloud-based networks creates an opportunity for communications service providers to deliver accelerated value at unparalleled scale and efficiency," said Anthony Goonetilleke, group president at Amdocs Technology. "Amdocs Intelligent Networking Suite takes advantage of AWS Telco Network Builder’s support of telecom interfaces to simplify service and network orchestration while bringing agility to network planning, deployment and operations.” + +Cloudify is an open source, multi-cloud orchestration platform that packages infrastructure, networking, and existing automation tools into self-service environments. "We've observed the challenges the industry faces in bridging the gap between applications and cloud environments," said Nati Shalom, CTO and founder of Cloudify. "Our work with AWS Telco Network Builder will help communications service providers more easily manage their network services by automating network planning, deployment, and operations activities using standard DevOps and IT service management tools. We are excited to use AWS Telco Network Builder to simplify the orchestration of network workloads using standard European Telecommunications Standards Institute-based interfaces." + +Infosys is a global leader in next-generation digital services and consulting. "The cloud's scalability and efficiency are key to enabling innovation and reducing the complexity of managing telco network operations, which arms us with the tools to deliver new services for our end users continuously," said Anand Swaminathan, executive vice president and global industry leader - Communications, Media, and Technology at Infosys. "As we look to build and operate cloud-based networks for our clients with Infosys Cobalt, we are excited to leverage AWS Telco Network Builder to increase the operational efficiency of mobile and private networks, ultimately enabling a streamlined operational model across Multi-G technologies." + +Mavenir is a network software provider building the future of networks with leading 4G, 5G, Core, and IP Multimedia Subsystem cloud-native software. "Managing 4G, 5G, Core, and IP Multimedia Subsystem networks is complex. Often these networks are distributed across the edge continuum," said Bejoy Pankajakshan, chief strategy officer at Mavenir. "AWS Telco Network Builder allows us to create repeatable network templates that speed up the definition, provisioning, deployment, and upgrading of network services for our customers. The collaboration between Mavenir and AWS offers customers flexibility and agility in the deployment of network functions, furthering us toward our goal of building a single, software-based automated network." + +O2 Telefónica is a leading telecommunications provider in Germany, with around 47 million mobile telephone lines and 2.3 million broadband lines. “As we transition our telco network to the cloud, we strive to achieve greater operational simplicity while accelerating the roll-out of our network and services,” said Bas Hendrikx, head of Cloud Center of Excellence at O2 Telefónica. “We are exploring AWS Telco Network Builder to enable us to leverage automation to deliver new 5G network services faster and manage our networks more efficiently. At O2 Telefónica, we are committed to shaping digital change that benefits everyone, and our investments in building cloud-native networks and using AWS services help to provide greater value and performance to our customers.” + +About Amazon Web Services + +Since 2006, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 99 Availability Zones within 31 geographic regions, with announced plans for 12 more Availability Zones and four more AWS Regions in Canada, Israel, New Zealand, and Thailand. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com. + +About Amazon + +Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005644/en/ \ No newline at end of file diff --git a/news/AMZN/2023.02.21/Amazon Web Services pairs with Hugging Face to target AI developers.txt b/news/AMZN/2023.02.21/Amazon Web Services pairs with Hugging Face to target AI developers.txt new file mode 100644 index 0000000000000000000000000000000000000000..71881d7e91db49315b052e46a3c0cae45030c73d --- /dev/null +++ b/news/AMZN/2023.02.21/Amazon Web Services pairs with Hugging Face to target AI developers.txt @@ -0,0 +1 @@ +While new generative AI services like chat-based search engines from Microsoft Corp and Alphabet Inc's Google have captured the public's imagination, tech companies such as AWS are also vying behind the scenes to supply the tools and services that software developers will need to weave similar technology into their own products.AWS, the biggest cloud computing provider, already offers tools to help developers create AI-based software, including proprietary computing chips for raining AI algorithms on huge amounts of data at lower cost than rivals to services that reduce how much time it takes to create a chatbot or other AI products.On Tuesday, AWS said it will work with Hugging Face, a New York-based company that has become a central place online where AI developers share open-source code and models. Clem Delangue, Hugging Face's chief executive, said that while the deal is not exclusive, the startup is working closely with AWS on making it easy for developers to take code from the site and run it on the AWS cloud."For this product collaboration, we're dedicating significant engineering resources to build our shared products," Delangue told Reuters in interview.Delangue also said the next generation of Bloom, an open-source AI model that competes in size and scope with the model that Microsoft-backed OpenAI used to create ChatGPT, will be run on Trainium, a proprietary artificial intelligence chip created by AWS.Swami Sivasubramanian, vice president of database, analyst and machine learning at AWS, said he believes technologies like Trainium can help developers save money as AI takes up more computing power and AWS wants to make it less time consuming for developers to adopt them."We want to make sure they have access to our silicon and networking innovations," Sivasubramanian told Reuters. (Reporting by Stephen Nellis in San Francisco; Editing by Mark Potter)By Stephen Nellis \ No newline at end of file diff --git "a/news/AMZN/2023.02.21/Amazon to \342\200\230go big' on physical grocery business.txt" "b/news/AMZN/2023.02.21/Amazon to \342\200\230go big' on physical grocery business.txt" new file mode 100644 index 0000000000000000000000000000000000000000..19c7b7197cb319610bac2c4e68a5091e0a1234da --- /dev/null +++ "b/news/AMZN/2023.02.21/Amazon to \342\200\230go big' on physical grocery business.txt" @@ -0,0 +1 @@ +Amazon may be laying off nearly 20,000 employees but it has big plans to grow its physical grocery store strategy.CEO Andy Jassy said Amazon plans to "go big," according to a Financial Times report cited in an Endgadget article.The omnichannel retailer made its foray into supermarkets when it bought Whole Foods six years ago and has steadily been launching Amazon Go grocery stories featuring its Just Walk Out cashierless technology.Jassy said Amazon has "a format" it plans to go big on and will be "doubling down on It," according to the Financial Times.Copyright © 2023 Networld Media. All rights reserved., source Industry News \ No newline at end of file diff --git a/news/AMZN/2023.02.21/ChatGPT launches boom in AI-written e-books on Amazon.txt b/news/AMZN/2023.02.21/ChatGPT launches boom in AI-written e-books on Amazon.txt new file mode 100644 index 0000000000000000000000000000000000000000..a7f0d72b4a889d2cbcd06047cadbdd3cc9f147b5 --- /dev/null +++ b/news/AMZN/2023.02.21/ChatGPT launches boom in AI-written e-books on Amazon.txt @@ -0,0 +1 @@ +"The idea of writing a book finally seemed possible," said Schickler, a salesman in Rochester, New York. "I thought 'I can do this.'"Using the AI software, which can generate blocks of text from simple prompts, Schickler created a 30-page illustrated children's e-book in a matter of hours, offering it for sale in January through Amazon.com Inc's self-publishing unit. In the edition, Sammy the Squirrel, crudely rendered also using AI, learns from his forest friends about saving money after happening upon a gold coin. He crafts an acorn-shaped piggy bank, invests in an acorn trading business and hopes to one day buy an acorn grinding stone.Sammy becomes the wealthiest squirrel in the forest, the envy of his friends and "the forest started prospering," according to the book."The Wise Little Squirrel: A Tale of Saving and Investing," available in the Amazon Kindle store for $2.99 - or $9.99 for a printed version - has netted Schickler less than $100, he said. While that may not sound like much, it is enough to inspire him to compose other books using the software."I could see people making a whole career out of this," said Schickler, who used prompts on ChatGPT like "write a story about a dad teaching his son about financial literacy."Schickler is on the leading edge of a movement testing the promise and limitations of ChatGPT, which debuted in November and has sent shock waves through Silicon Valley and beyond for its uncanny ability to create cogent blocks of text instantly. There were over 200 e-books in Amazon's Kindle store as of mid-February listing ChatGPT as an author or co-author, including "How to Write and Create Content Using ChatGPT," "The Power of Homework" and poetry collection "Echoes of the Universe." And the number is rising daily. There is even a new sub-genre on Amazon: Books about using ChatGPT, written entirely by ChatGPT.  But due to the nature of ChatGPT and many authors' failure to disclose they have used it, it is nearly impossible to get a full accounting of how many e-books may be written by AI. The software's emergence has already ruffled some of the biggest technology firms, prompting Alphabet Inc and Microsoft Corp to hastily debut new functions in Google and Bing, respectively, that incorporate AI.The rapid consumer adoption of ChatGPT has spurred frenzied activity in tech circles as investors pour money into AI-focused startups and given technology firms new purpose amid the gloom of massive layoffs. Microsoft, for one, received fawning coverage this month over its otherwise moribund Bing search engine after demonstrating an integration with ChatGPT. But already there are concerns over authenticity, because ChatGPT learns how to write by scanning millions of pages of existing text. An experiment with AI by CNET resulted in multiple corrections and apparent plagiarism before the tech news site suspended its use.THREAT TO 'REAL' AUTHORS? Now ChatGPT appears ready to upend the staid book industry as would-be novelists and self-help gurus looking to make a quick buck are turning to the software to help create bot-made e-books and publish them through Amazon's Kindle Direct Publishing arm. Illustrated children's books are a favorite for such first-time authors. On YouTube, TikTok and Reddit hundreds of tutorials have spring up, demonstrating how to make a book in just a few hours. Subjects include get-rich-quick schemes, dieting advice, software coding tips and recipes."This is something we really need to be worried about, these books will flood the market and a lot of authors are going to be out of work," said Mary Rasenberger, executive director of writers' group the Authors Guild. Ghostwriting - by humans - has a long tradition, she said, but the ability to automate through AI could turn book writing from a craft into a commodity."There needs to be transparency from the authors and the platforms about how these books are created or you're going to end up with a lot of low-quality books," she said. One author, who goes by Frank White, showed in a YouTube video how in less than a day he created a 119-page novella called "Galactic Pimp: Vol. 1" about alien factions in a far-off galaxy warring over a human-staffed brothel. The book can be had for just $1 on Amazon's Kindle e-book store. In the video, White says anyone with the wherewithal and time could create 300 such books a year, all using AI. Many authors, like White, feel no duty to disclose in the Kindle store that their great American novel was written wholesale by a computer, in part because Amazon's policies do not require it. When asked for comment by Reuters, Amazon did not address whether it had plans to change or review its Kindle store policies around authors' use of AI or other automated writing tools. "All books in the store must adhere to our content guidelines, including by complying with intellectual property rights and all other applicable laws," Amazon spokeswoman Lindsay Hamilton said via email.A spokeswoman for ChatGPT developer OpenAI declined to comment. FROM CONCEPTION TO PUBLICATION IN JUST HOURSAmazon is by far the largest seller of both physical and e-books, commanding well over half of sales in the United States and, by some estimates, over 80% of the e-book market. Its Kindle Direct Publishing service has spawned a cottage industry of self-published novelists, carving out particular niches for enthusiasts of erotic content and self-help books. Amazon created Kindle Direct Publishing in 2007 to allow anyone to sell and market a book from their couch without the hassle or expense of seeking out literary agents or publishing houses. Generally, Amazon allows authors to publish instantly through the unit without any oversight, splitting whatever proceeds they generate.That has attracted new AI-assisted authors like Kamil Banc, whose primary job is selling fragrances online, who bet his wife he could make a book from conception to publication in less than one day. Using ChatGPT, an AI image creator and prompts like "write a bedtime story about a pink dolphin that teaches children how to be honest," Banc published an illustrated 27-page book in December. Available on Amazon, "Bedtime Stories: Short and Sweet, For a Good Night's Sleep" took Banc about four hours to create, he said.Consumer interest so far has been admittedly sleepy: Banc said sales have totaled about a dozen copies. But readers rated it worthy of five stars, including one who praised its "wonderful and memorable characters."Banc has since published two more AI-generated books, including an adult coloring book, with more in the works. "It actually is really simple," he said. "I was surprised at how fast it went from concept to publishing." Not everyone is blown away by the software. Mark Dawson, who has reportedly sold millions of copies of books he wrote himself through Kindle Direct Publishing, was quick to call ChatGPT-assisted novels "dull" in an email to Reuters. "Merit plays a part in how books are recommended to other readers. If a book gets bad reviews because the writing is dull then it's quickly going to sink to the bottom." (Reporting by Greg Bensinger in San Francisco; Editing by Kenneth Li and Matthew Lewis)By Greg Bensinger \ No newline at end of file diff --git a/news/AMZN/2023.02.21/Darktrace audits, Pfizer compensates : MarketScreen...txt b/news/AMZN/2023.02.21/Darktrace audits, Pfizer compensates : MarketScreen...txt new file mode 100644 index 0000000000000000000000000000000000000000..7fca0bde045d16fffa090154635e5884f1c2f5d6 --- /dev/null +++ b/news/AMZN/2023.02.21/Darktrace audits, Pfizer compensates : MarketScreen...txt @@ -0,0 +1,12 @@ + +Ericsson, Segro, InterContinental Hotels Group, Darktrace, Manchester United, Ping An, HSBC, Aedas Homes, Metrovacesa, Atresmedia, Enagas, Telefonica, Pfizer, Amazon, Walmart, Grocery Outlet, Dollar General, Dollar Tree, Kroger and BJ's Wholesale Club,  BHP, and Magnis Energy feature in this press review! + + + + +  + +  +  +  +  diff --git a/news/AMZN/2023.02.21/Futures fall as Home Depot outlook disappoints.txt b/news/AMZN/2023.02.21/Futures fall as Home Depot outlook disappoints.txt new file mode 100644 index 0000000000000000000000000000000000000000..022ca9f3fc3136976c575a96e28aaa99528bb55f --- /dev/null +++ b/news/AMZN/2023.02.21/Futures fall as Home Depot outlook disappoints.txt @@ -0,0 +1 @@ +The No. 1 U.S. home improvement chain dropped 3.8% in premarket trading after its fourth-quarter comparable sales fell short of estimates on higher supply-chain costs and weak demand due to inflation.Investors will be focusing on retail giant Walmart Inc's results due later in the day.At 6:34 a.m. ET, Dow e-minis were down 264 points, or 0.78%, S&P 500 e-minis were down 30.75 points, or 0.75%, and Nasdaq 100 e-minis were down 110.25 points, or 0.89%.The U.S. stock market got a lift this year from its worst annual showing in more than a decade in 2022, as investors were hopeful that the central bank's rate hiking cycle was nearing its end.However, recent economic data points to a resilient economy with inflation far from the Fed's 2% target, raising bets for two or three more 25 basis point hikes and lower chances of rate cuts at year-end.Money market participants see the benchmark level peaking to a 5.3% in July, and staying near those levels throughout the year.Yield on the U.S. benchmark 10-year Treasury note edged higher, in turn pressuring rate-sensitive growth stocks.Apple Inc, Amazon.com Inc, Microsoft Corp and Google-parent Alphabet Inc fell between 1% and 1.4% in premarket trading as yield on the benchmark 10-year Treasury note climbed. Traders find government bonds as a safe alternative to investments in riskier assets like megacap firms.In a bright spot, Meta Platforms Inc added 2.0% after the Facebook parent said it is testing a monthly subscription service called Meta Verified, which will let users verify their accounts using a government ID and get a blue badge. (Reporting by Johann M Cherian and Medha Singh in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/AMZN/2023.02.21/How to spot Red Flags?.txt b/news/AMZN/2023.02.21/How to spot Red Flags?.txt new file mode 100644 index 0000000000000000000000000000000000000000..958820a8eaff71ee53d4ccd70f3cec833e3338c4 --- /dev/null +++ b/news/AMZN/2023.02.21/How to spot Red Flags?.txt @@ -0,0 +1,134 @@ + +A red flag does not necessarily mean that there is a fraud or a scandal to be expected. It's simply something that needs to be watched. The problem is when they accumulate. These red flags should be understood as warnings: the more they multiply during the study of a company, the more the risks of a possible permanent loss of capital - if you decide to invest in this file anyway - intensify.  +  +Investors should therefore perform due diligence, i.e. a thorough and systematic analysis of the documents and information available to shareholders to ensure that there are no irregularities and that the company is financially sound, in order to reduce the possible risks associated with the investment.  +  +Looking for red flags is an integral part of the job of a professional financial analyst, but it can also be extremely useful for any conscientious investor looking to avoid bad companies and maximize their returns. In this article, we will learn about the 12 main types of red flags that can be spotted and then we will study a detailed case study with a listed stock.  +  +Part 1: The 12 main types of red flags +  +A lack of transparency  +  +Let's start with a common characteristic of any shady company that doesn't want anyone to look into its accounts. Lack of transparency is an overall perception when reading financial statements. This can take the form of an omission of additional information that could have been useful, the use of allusive or roundabout vocabulary, the unnecessary complexity of a document or data presentation, or the systematic placing in footnotes of all information that could be perceived as negative by the investor. Most of the time, nothing is illegal, but we have this feeling that information is difficult to obtain. This is a first warning sign. It should invite us to dig deeper into the subject.  +  +Unproven (or unprovable) competitive advantages  +  +The company boasts about a lot of things but without really proving anything. It describes itself as more efficient, employing the best engineers, offering the fastest solutions. But when you look for the facts behind the claims: que tchi, nada, zilch. There is simply no proof. So of course, an investor presentation is spun in a way that appeals to its readership, but when you can't find any evidence, chances are it's all just talk.  +  +The company is burning cash and not generating free cash flow  +  +Stable cash flow is a sign of a healthy, thriving business, while large fluctuations in cash flow can signal that a company is in trouble. But it gets worse: when the evolution of free cash flow (FCF) does not follow the evolution of turnover at all. When the FCF is negative, it means that the company is burning cash. It will therefore need to finance itself sooner or later if it does not manage to turn the tide and go into the black. In this case, the company can refinance itself with debt or equity. In any case, this is a bad sign for the shareholder. Indeed, either the balance sheet situation of the company risks to deteriorate soon and its stock market valuation will drop to take into account this deterioration of the fundamentals, or the issue of shares will dilute the shareholder and the share will drop to readjust to the initial market capitalization.  +  +(Overly) promising results  +  +The company tends to promise much. The growth forecasts are gargantuan. But when you look at previous earnings releases, the company struggles to deliver on these overly optimistic forecasts. Announcements regularly disappoint and the promise of a year of finally creating shareholder value fades as the disenchantment of a bright future fades.  +  +A history of dilution  +  +Dilution is what happens when an ownership interest in a company is reduced due to a new share issue or the exercise of stock options. Each time a company issues new shares, it results in a smaller share of ownership for the shareholders. In effect, more shares in the hands of more people means that each holder of existing common stock owns a smaller or diluted percentage of the company. Some companies tend to abuse the issuance of shares. So it's essential to consider this parameter when analyzing a stock. Look at the evolution of the number of shares over the last few years, avoid companies that dilute their shareholders too much and favor companies that buy back their own shares.  +  +OCABSAs  +  +In the same line as share dilution, the company can find alternative financing methods if it no longer has access to loans. This is where the OCABSA come into play. This is a structured product that combines bonds convertible into shares (OCA), with a short maturity (less than three years) and warrants to subscribe for shares (BSA). They are most often issued by companies that no longer have access to credit, are not able to increase their capital under good conditions, or do not offer reassuring prospects for their development. Few companies that enter into this trap come out unscathed. We often speak of OCABSA but other dilutive instruments exist (ORNANE, BEOCEANE, ABSA, OCEANE/BSA, ODIRNANE, etc). The shareholder loses his feathers almost every time. When you see this kind of thing, it is better to run away.  +  +No or few insiders in the capital  +  +If this company is so great and the stock has so much potential, why aren't the key stakeholders buying shares? This is a question you need to ask yourself. Do you want to invest with a "skin in the game" management, who is up to his neck in his entrepreneurial project, who wants, just like you, the business to flourish and the stock to rise because that's how he makes his money? Or do you want to invest in a company owned by institutional investors and index managers who have little regard for the practices of the management, which itself pays itself a large salary that does not depend on the share price? Choose your side, but remember that incentives are often highly correlated with results. As Charlie Munger said: "Show me the incentive, and I will show you the outcome".  +  +Massive insider selling  +  +When you look at the latest insider deals, if you see massive sales from the executive team (CEO, CFO, COO, VP, Director, etc.), it is usually not good news. So there are many reasons to sell a stock. The CEO may exercise call options and then resell the stock to compensate himself. The CFO may need to diversify his or her personal investments so as not to "put all his or her eggs in one basket. The vice-chairman of the board of directors simply sells some shares to finance the renovation of his house and, in passing, to build a new swimming pool in his second home. Why not! But it can also be because insiders have privileged information or observe a slowdown in activity. They prefer to cash in some gains and come back to the stock later. There is always a good reason to sell stocks. However, when you have the wind at your back, with a committed management that strongly believes in its entrepreneurial project and continues to invest its own money because it sees the long-term potential, it is still more reassuring.  +  +A CEO out of nowhere  +  +This is a phenomenon that has accelerated in recent years, especially since the advent of SPACs and other "empty shell" investment vehicles. Some executives have gone from CEO of a SaaS software company in Silicon Valley to CEO of a mining company in southern Montana out of nowhere. Others have wacky backgrounds that don't give a sense of expertise in a business area. How can you be an expert in a field of endeavor after only two years in an industry? Some things take time, like building expertise. On the contrary, it's nice to invest in a company where the current CEO has worked hard for many years (or even decades), spending time with major competitors to understand their environment and then working his way up the corporate ladder.  +  +High salaries  +  +Another indicator that the company is a "cash pig" for its management is when the salaries are far too high compared to the turnover and the net result generated. As we will see in "Part 2: Case study", some managers go as far as paying themselves a salary equivalent to 10% of the turnover, that's simply enormous. How do you expect the company to have good profit margins if 10% of the turnover is used to pay the CEO? In a healthy company, salaries are balanced in relation to the value created and there is enough cash left over to invest in organic growth, make targeted acquisitions, carry out share buybacks or pay a dividend to shareholders.  +  +SBC's in spades  +  +This due diligence goes hand in hand with the study of salaries and other benefits paid to executives. SBC for Stock Based Compensation is a variable remuneration in the form of shares for employees, directors or executives. This includes stock payouts, stock options, phantom shares, restricted stock units or employee stock ownership plans. Like the issuance of shares or OCABSAs, this dilutes existing shareholders. It is not alarming to see them, they exist in most large listed companies. The important thing is the proportion they take in relation to the cash flow profile, the minimum holding period imposed on holders (usually several years) and the behavior of the latter (do they systematically sell or not).  +  +A feeling of "too good to be true " +  +When reading the financial statements, you have the feeling that you have stumbled upon a five-legged sheep. The company has everything going for it: it is profitable, in good financial health, showing sustained growth, the management seems competent and the stock is paying a discount. It seems almost too good to be true. How is it that no one has seen this bargain, or rather, this anomaly in the financial markets? And then you say to yourself: "So the markets are inefficient, I have tangible proof of this right in front of me".  +  +But what if it really is too good to be true? If the market gives a modest valuation to a stock, there is surely a good reason for it that you may not have seen. Is the company positioned in a very cyclical business? Is it at the top of the cycle? Is a slowdown in activity to be expected in the coming quarters? Or perhaps it is due to the company's positioning in its market: does the company have little bargaining power with its customers or suppliers? The products or services it offers are in the process of being disrupted? The company is undergoing a regulatory shock or is subject to regulation? Its business model is very capitalist? The company is facing a financing or management problem? A scandal is about to break? Who knows? There are many factors that can enter into the equation and you may have missed some.  +  +Look at the big picture. Would you invest in this company with your eyes closed if you couldn't sell your shares for the next ten years? If the answer is no, reconsider your enthusiasm.  +Here is a summary of the 12 main types of red flags: + +I invite you not to duly believe the words of leaders and the flattering comments of observers, but instead to go deep into the information for yourself. Independent thinking is essential in this world where information is a weapon of mass concealment. You must dig, dig and use all (legal) means at your disposal to gather information in order to form a solid, constructed opinion. This is especially true when you are investing in individual stocks in poorly regulated markets or in small companies with little analyst coverage.  +  +Part 2: Case Study  +  +Now that you know the main points to watch out for when looking at a company, you'll have to move on to the next step: the case study.  +  +This example of a company we're going to break down is a perfect example of what we often see in the markets: "a promise of a wonderful future that rings a little hollow".  +  +Pointerra Limited (3DP) is a small Australian company with a market capitalization of just under $100 million as of this writing. The company provides a data-as-a-service (DaaS) solution for managing, working with, analyzing and sharing three-dimensional (3D) data sets.  +  +The company's cloud platform, Pointerra3D, is an end-to-end solution that stores, processes, manages, analyzes, extracts, visualizes and shares key information from 3D data. The company also offers real-time web visualization tools to access data from any device and any location. +  +The applications of its tools are obvious and extremely useful for many sectors such as engineering, architecture, infrastructure management, defense or commerce. This specialist in 3D visualization and digital twins (digital replica of an object) addresses markets in structural growth.  +  +This precise 3D mapping can be used as a platform to manage a fleet of robots (such as Amazon's warehouses with which Pointerra has a pilot project on 200 sites in the United States and Europe) or to manage electrical infrastructures (such as with the high voltage lines of FPL (Florida Power & Light Company), the main subsidiary of Nextera Energy with which Pointerra has a contract).  +  +In short, the company is in a trendy sector, uses a plethora of keywords (3D mapping, cloud platform, virtual twin, etc.) and presents itself as an agile solution and the fastest on the market. The pitch is well-tuned and an inattentive investor could easily fall for it after reading their well-polished presentation.  + +Source : Investor presentation 2022 +We are going to go a little deeper and deconstruct the substance of Pointerra in order to identify potential "red flags" on this share.  +  + +Red Flag #1 : First of all, what is surprising is the apparent lack of transparency. As an analyst, when I study a company, I prefer when information (positive or negative) is easily available and expressed in clear terms. First, it makes my job easier. And second, it makes me feel more confident. Here, Pointerra uses the ACV metric for "annual contract value". A curious term, which can be explained in the case of a SaaS business, but which hides unverifiable data. Then, we notice that the most interesting information is in the footnotes. Here is what you can find when you look in the "fine print": 10% of the turnover comes from an R&D tax credit (the Australian equivalent of our research credit). Of course, the company does not brag about it in the headlines, you have to look in the footnotes. Do you want to invest in a company where about 10% of the turnover comes from a government grant?  +Red Flag #2: Despite LCA's meteoric growth, the company is burning cash, not generating Free Cash Flow (FCF) and its expenses are accelerating. Growth is good, but if it's profitable, it's better. This real and rapidly growing cash-burn will surely not allow the company to survive another 18 months without a capital increase, and thus a potential dilution for the current shareholder. In fact, over its last six fiscal years in operation, we observe that the company has burned through AUD 12.5 million, and unsurprisingly, this is in line with the AUD 12 million it has raised in equity over the same period.  + + +Source : Investor presentation 2022 + +Red Flag #3: The Australian company announces that it has the fastest solution available on the market. Faster than Ansys or Dassault Systèmes (to name but two), while the means and reputation of these competitors are no longer to be demonstrated. When you look at the technical team on LinkedIn, it is tiny (barely 10 full-time engineers). How could this small team of engineers compete with the global giants of 3D visualization with a faster solution? This is a source of amazement to me. Especially since the growth of 2022 is almost entirely due to a pilot project with an American energy company (FPL mentioned earlier in the article). Only one big customer for the fastest solution in the world, surprising that customers are not yet convinced.  + +  + +Red Flag #4: Let's look at compensation this time. And not surprisingly, the salaries of the management team are (very) high for a small-cap with less than $100 million in market capitalization and $10 million in revenue in 2022. The CEO, Ian Olson, is paid $492,255 per year all in cash, or 5% of the company's revenue. This is what we call value capture!  + + +Source : Annual report 2022 + +Red Flag #5 : There is a classic incentive program in Australia which allows the management to borrow from the company at a rate of 0.4% to buy shares of the company at $0.03 and to sell them potentially at $0.06. The management has used it well. In short, there are many signs that the management is getting paid handsomely at the expense of shareholders.  + + +Source : Annual report 2022 + +Red Flag #6 : In the accounts, the details of the SBC (stock based compensation) do not appear in the cash flow statements. The SBC are classified under the catch-all name of "share based payments" much further down in the annual report. This is not a very elegant practice when one considers that SBCs represent almost one third of EBITDA (gross operating profit).  + + +Source : Annual report 2022 + +Source : Annual report 2022 + +Red Flag #7: To keep the momentum going, there are 17 million options up in the air with a strike at $0.07 per share. This clearly doesn't foreshadow any incentive for management, who are going to take money no matter what happens to the company's trajectory in the coming quarters.  + + + + +Source : Annual report 2022 + +Red Flag #8: We then observe a provision for bad debt of AUD 437,497 in 2022. In other words, 5% of the 2022 revenue (excluding tax credits) is set aside as a provision because it appears to have been earned from insolvent or non-paying customers. All this seems abnormally high. It also allows the company to potentially juggle cash flow artificially since the provisions are a non-cash item.  + + + + +Source : Annual report 2022 + +Red Flag #9: Finally, the ninth and last "red flag" identified here: the latest Q1 2023 release. Like a nail in the coffin, this last one announces billing delays and delayed projects in the US with an impact on the "cash collection". Surprising for a supposedly SaaS business where normally the customer pays in advance to access the services.  + + +Source : Quarterly Activities/Appendix 4C Cash Flow Report 01/31/2023 +To go further, I have put the links, documents and corresponding pages so that you can check for yourself and trace the path when looking for potential anomalies on a company.  +  +As you can guess, all this does not inspire much confidence. And even if the turnover continues to grow in the next few years, do you want to invest in this kind of company? Maybe Pointerra will improve its current situation and turn out to be a good investment, but in the meantime, there is a lot of risk. When we want to become long-term shareholders of a company and therefore partners with the management team, we have to trust them because it is our savings that they have in their hands.  +  +Identifying potential red flags is part of an investor's job. Unfortunately, not all investors take the time to thoroughly study a company's financial statements before investing in it. I invite you to think for yourself and to do this work, which certainly takes time, but will allow you to avoid big mistakes and to eventually identify the most qualitative companies.  diff --git a/news/AMZN/2023.02.21/S&P, Nasdaq extend losing streak, as Wall St frets on rate path.txt b/news/AMZN/2023.02.21/S&P, Nasdaq extend losing streak, as Wall St frets on rate path.txt new file mode 100644 index 0000000000000000000000000000000000000000..e2c8e8d82e3e11d5b3be093c050681a73b7425cd --- /dev/null +++ b/news/AMZN/2023.02.21/S&P, Nasdaq extend losing streak, as Wall St frets on rate path.txt @@ -0,0 +1,54 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Home Depot falls as FY profit forecast disappoints*Big tech stocks hit in widespread decline*U.S. business activity expands for first time in 8 monthsFeb 21 (Reuters) -The S&P 500 and Nasdaq ended down for the third straight +session as Wall Street slumped on Tuesday, with investors +interpreting a rebound in U.S. business activity in February to +mean interest rates will need to stay higher for longer to +control inflation.The S&P Global Purchasing Manufacturer's index, which +reflects business activity in the United States, returned to +expansion for the first time in eight months in February. The +50.2 reading, up from 46.8 in January, was buoyed by a robust +services sector, according to a survey.The report adds to a recent slew of economic data which has +painted a picture of a resilient economy, which continues to +perform against a backdrop of multiple rate-rises by the central +bank in 2022 aimed at tamping down inflation.With inflation still far from the Fed's 2% target, and the +economy retaining much of its vigor, money market participants +have been revising upwards where they see the Fed fund rates +peaking - currently at 5.35% in July and staying near those +levels throughout the year."Today, the realization is that the Fed is not kidding +around about higher for longer, and in fact it might a little +bit higher for a little-to-a-lot bit longer," said Carol +Schleif, chief investment officer at BMO Family Office.U.S. stocks had an upbeat start to the year after their +worst annual showing in more than a decade in 2022, as investors +hoped the central bank's rate-hike cycle was nearing its end.With this positive mindset driving indexes higher, it makes +equity markets susceptible to pull-backs when data undermines +expectations on what the Fed might do."The market keeps looking for a dovish pivot, and they are +just not going to get it," said Schleif.Investors will be looking to the minutes detailing +discussion at the Fed's last policy meeting, due out on +Wednesday, for further clues on attitudes within the central +bank on rates.According to preliminary data, the S&P 500 lost 81.85 +points, or 2.01%, to end at 3,997.39 points, while the Nasdaq +Composite lost 294.72 points, or 2.50%, to 11,492.55. +The Dow Jones Industrial Average fell 693.35 points, or +2.06%, to 33,133.34.Among those hit by Tuesday's widespread declines were big +tech stocks, with Tesla Inc, Amazon.com Inc, +Microsoft Corp and Google-parent Alphabet Inc +all falling.Not helping them was the fact the U.S. benchmark 10-year +Treasury notes hit a fresh three-month high.Higher yields typically weigh on growth stocks, whose +valuations tend to be based on future profits that are +discounted heavily as rates go higher.Meta Platforms Inc ended lower. The Facebook parent +had initially been buoyed by confirmation it was testing a +monthly subscription service called Meta Verified, which will +let users verify their accounts using a government ID and get a +blue badge.Elsewhere, Home Depot Inc slumped to a three-month +low after the No. 1 domestic home improvement chain warned of +weakening demand and issued a dour profit forecast for 2023.Smaller rival Lowe's Cos Inc fell ahead of its +results next week.Walmart forecast full-year earnings below estimates +and painted a grim picture of hotter-than-expected food +inflation squeezing profit margins. However, the world's largest +retailer recovered from an initial decline to advance.Analysts are expecting earnings of S&P 500 companies to grow +by 1.6% in 2023, compared with 4.4% growth estimated at the +start of the year, as per Refinitiv data.All of the major 11 S&P 500 sectors fell, with the consumer +discretionary index's decline leading the way. +(Reporting by Johann M Cherian and Medha Singh in Bengaluru and +David French in New York; Editing by Marguerita Choy and Anil +D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.02.21/U.S. will not challenge Amazon.com's plan to buy One Medical -FTC official.txt b/news/AMZN/2023.02.21/U.S. will not challenge Amazon.com's plan to buy One Medical -FTC official.txt new file mode 100644 index 0000000000000000000000000000000000000000..b7fb05a142424bbcc3e41c18f0acb95cdf60f24d --- /dev/null +++ b/news/AMZN/2023.02.21/U.S. will not challenge Amazon.com's plan to buy One Medical -FTC official.txt @@ -0,0 +1,30 @@ +WASHINGTON, Feb 21 (Reuters) - The U.S. Federal Trade +Commission will not file a complaint aimed at stopping +Amazon.com's plan to buy primary care provider One +Medical, an FTC official said on Tuesday.Amazon.com Inc said in July it would buy One Medical for +$3.49 billion, expanding the e-commerce giant's virtual +healthcare business and adding brick-and-mortar doctors' offices +for the first time.Amazon declined comment about the FTC decision.The FTC official said that the agency planned to send a +pre-consummation warning letter that would say it still had +specific concerns about the deal. Antitrust agencies can, and +sometimes do, file complaints to undo mergers that have closed.The official said the agency would watch for any potential +harm to competition as well as how consumer data was used.The deal is part of Amazon's long-running ambition to delve +deeper into healthcare, helping consumers receive more efficient +medical advice and medicines. The company has yet to disrupt the +complex industry as it has book and other retail sales.The online retailer first piloted virtual care visits +for its own staff in Seattle in 2019 before offering services to +other employers under the Amazon Care brand, which it has since +said that it would wind down.Amazon likewise bought online pharmacy PillPack in 2018, +underpinning a prescription delivery and price-comparison site +it later launched.One Medical is in more than a dozen U.S. markets and gives +members access to virtual care at any time of the day or night. +It provides services to the employees of some 8,500 companies.The FTC is also probing Amazon.com's plan to buy Roomba +maker iRobot Corp for $1.7 billion. Senator Elizabeth +Warren has urged that the deal be stopped.Separate from the merger probes, the FTC has been +investigating Amazon.com since mid-2019 amid allegations that +the company abuses its dominance of online retail.That probe was part of a series of investigations into Big +Tech begun by the FTC and Justice Department during the Trump +administration. They have resulted in two lawsuits against +Alphabet's Google and one against Meta's Facebook. +(Reporting by Diane Bartz; additional reporting by Jeffrey +Dastin; Editing by Sandra Maler and Bradley Perrett) \ No newline at end of file diff --git a/news/AMZN/2023.02.21/Wall St posts worst day of 2023 on higher-for-longer rate fears.txt b/news/AMZN/2023.02.21/Wall St posts worst day of 2023 on higher-for-longer rate fears.txt new file mode 100644 index 0000000000000000000000000000000000000000..49cc53dc2cd531ac3b8e5a0ff2c8f88136b89c56 --- /dev/null +++ b/news/AMZN/2023.02.21/Wall St posts worst day of 2023 on higher-for-longer rate fears.txt @@ -0,0 +1,55 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Biggest daily falls on Wall St since Dec. 15*Home Depot falls as FY profit forecast disappoints*Big tech stocks hit in widespread decline*U.S. business activity expands for first time in 8 months*Indexes down: Dow 2.06%, S&P 2%, Nasdaq 2.5%Feb 21 (Reuters) -Wall Street posted its worst performance of the year on +Tuesday, with the main benchmarks ending down as investors +interpreted a rebound in U.S. business activity in February to +mean interest rates will need to stay higher for longer to +control inflation.For the S&P 500 and Nasdaq Composite, it +was their third session in a row closing lower, while the +decline in the Dow Jones Industrial wiped out its gains +for 2023.The falls came after the S&P Global Purchasing +Manufacturer's index, which reflects business activity in the +United States, returned to expansion for the first time in eight +months in February. The 50.2 reading, up from 46.8 in January, +was buoyed by a robust services sector, according to a survey.The report added to a recent slew of economic data which has +painted a picture of a resilient economy, which continues to +perform against a backdrop of multiple rate-rises by the central +bank in 2022 aimed at tamping down inflation.With inflation still far from the Fed's 2% target, and the +economy retaining much of its vigor, money market participants +have been revising upwards where they see the Fed fund rates +peaking - currently at 5.35% in July and staying near those +levels throughout the year."Today, the realization is that the Fed is not kidding +around about higher for longer, and in fact it might be a little +bit higher for a little-to-a-lot bit longer," said Carol +Schleif, chief investment officer at BMO Family Office.U.S. stocks had an upbeat start to the year after their +worst annual showing in more than a decade in 2022, as investors +hoped the central bank's rate-hike cycle was nearing its end. +Such positivity makes equity markets susceptible to pull-backs +though, when data undermines such expectations."The market keeps looking for a dovish pivot, and they are +just not going to get it," said Schleif.Investors will look to the minutes detailing discussion at +the Fed's last policy meeting, due out on Wednesday, for further +clues on attitudes within the central bank on rates.The Dow Jones Industrial Average fell 697.1 points, +or 2.06%, to 33,129.59, the S&P 500 lost 81.75 points, or +2.00%, to 3,997.34 and the Nasdaq Composite dropped +294.97 points, or 2.5%, to 11,492.30.Among those hit by Tuesday's widespread declines were big +tech stocks, with Tesla Inc, Amazon.com Inc, +Microsoft Corp and Google-parent Alphabet Inc +all falling between 2.1% and 5.3%.Not helping them was the fact the U.S. benchmark 10-year +Treasury notes hit a fresh three-month high.Higher yields typically weigh on growth stocks, whose +valuations tend to be based on future profits that are +discounted heavily as rates go higher.The semiconductor index was also impacted, dropping +3.3%.Elsewhere, Home Depot Inc slumped 7.1% to a +three-month low after the No. 1 domestic home improvement chain +warned of weakening demand and issued a dour profit forecast for +2023.Smaller rival Lowe's Cos Inc fell 5.1% ahead of its +results next week.Walmart forecast full-year earnings below estimates +and painted a grim picture of hotter-than-expected food +inflation squeezing profit margins. However, the world's largest +retailer rose 0.6%.All of the major 11 S&P 500 sectors fell, with the consumer +discretionary index's 3.3% decline leading the way.Volume on U.S. exchanges was 11 billion shares, compared +with the 11.62 billion average for the full session over the +last 20 trading days.The S&P 500 posted two new 52-week highs and one new +low; the Nasdaq Composite recorded 57 new highs and 112 new +lows. +(Reporting by Johann M Cherian and Medha Singh in Bengaluru and +David French in New York; Editing by Marguerita Choy and Anil +D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.02.21/Wall St set for lower open as Walmart, Home Depot forecasts disappoint.txt b/news/AMZN/2023.02.21/Wall St set for lower open as Walmart, Home Depot forecasts disappoint.txt new file mode 100644 index 0000000000000000000000000000000000000000..dbeab3b7aadaec41eca3b38103717d294ba5583a --- /dev/null +++ b/news/AMZN/2023.02.21/Wall St set for lower open as Walmart, Home Depot forecasts disappoint.txt @@ -0,0 +1,41 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Walmart, Home Depot fall as FY profit forecast disappoints*Meta Platforms rises as Facebook tests subscription +service*Futures down: Dow 0.84%, S&P 0.72%, Nasdaq 0.95%Feb 21 (Reuters) - Wall Street's main stock indexes were +set to open lower on Tuesday as retailers Walmart and Home Depot +delivered a double blow to traders returning after a long +weekend amid worries that interest rates will remain higher for +longer.Walmart, the world's largest retailer, shed 3.7% in +premarket trading as it forecast full-year earnings below +estimates and said consumers were likely to continue shopping +for lower-priced items that could pressure its margins."Walmart is a bellweather for how the consumer is doing and +the fact is that they envision that the consumer may be getting +to that point of having to pull back," said Art Hogan, chief +market strategist at B Riley Wealth.Home Depot dropped 4.0% as the home improvement chain +forecast annual profit below estimates due to higher +supply-chain costs and weak demand.Smaller rival Lowe's Cos Inc, which is expected to +post results next week, was down 2.9%.The U.S. stock market got a lift this year from its worst +annual showing in more than a decade in 2022, as investors were +hopeful that the central bank's rate hiking cycle was nearing +its end.However, recent economic data has pointed to a resilient +economy with inflation far from the Fed's 2% target, raising +bets for two or three more 25 basis point hikes amid dwindling +hopes of rate cuts at year-end.Money market participants see the benchmark level peaking to +a 5.3% in July, and staying near those levels throughout the +year.At 7:54 a.m. ET, Dow e-minis were down 285 points, +or 0.84%, S&P 500 e-minis were down 29.5 points, or +0.72%, and Nasdaq 100 e-minis were down 117.25 points, +or 0.95%.Yield on the U.S. benchmark 10-year Treasury note +edged higher, in turn pressuring rate-sensitive +growth stocks.Apple Inc, Amazon.com Inc, Microsoft Corp +and Google-parent Alphabet Inc fell between +1% and 1.5%.Traders find government bonds as a safe alternative to +investments in riskier assets like megacap firms.In a bright spot, Meta Platforms Inc added 1.4% +after the Facebook parent said it is testing a monthly +subscription service called Meta Verified, which will let users +verify their accounts using a government ID and get a blue +badge.Traders are awaiting business activity data for February +at 9:45 a.m. ET. The S&P Global Flash U.S. Composite Output +Index is expected to rise to 47.5 as per a Reuters poll from a +46.8 in the previous month. +(Reporting by Johann M Cherian and Medha Singh in Bengaluru; +Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/AMZN/2023.02.21/Wall St slumps as business rebound undermines rate-hike thinking.txt b/news/AMZN/2023.02.21/Wall St slumps as business rebound undermines rate-hike thinking.txt new file mode 100644 index 0000000000000000000000000000000000000000..533cc473ccf447a8201fa304358c4b683a9584c6 --- /dev/null +++ b/news/AMZN/2023.02.21/Wall St slumps as business rebound undermines rate-hike thinking.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Home Depot falls as FY profit forecast disappoints*Meta Platforms slips despite Facebook testing +subscriptions*U.S. business activity rebounds to eight-month high*Indexes down: Dow 1.92%, S&P 1.93%, Nasdaq 2.28%Feb 21 (Reuters) -The Wall Street benchmark indexes tumbled on Tuesday, +weighed by megacap names, after data showing a rebound in +business activity in February stoked fears that the U.S. Federal +Reserve might need to hike interest rates by more than expected +to control inflation.The S&P Global Purchasing Manufacturer's index showed that +business activity in the United States rebounded to its highest +level in eight months in February to 50.2 from 46.8 in January, +buoyed by a robust services sector, according to a survey.The report adds to a recent slew of economic data which has +painted a picture of a resilient economy, which continues to +perform against a backdrop of multiple rate-rises by the central +bank in 2022 aimed at tamping down inflation.With inflation still far from the Fed's 2% target, and +the economy retaining much of its vigor, money market +participants have been revising upwards where they see the Fed +fund rates peaking - currently at 5.35% in July and staying near +those levels throughout the year."This (business activity) data doesn't do anything to get +rid of the fears that the Fed might be more hawkish and might +feel like taking rates higher than what investors were thinking +just a month ago," said Brian Jacobsen, senior investment +strategist at Allspring Global Investments.U.S. stocks had an upbeat start to the year after their +worst annual showing in more than a decade in 2022, as investors +hoped the central bank's rate-hike cycle was nearing its end.With this positive mindset driving indexes higher, it makes +equity markets susceptible to pull-backs when data undermines +expectations on what the Fed might do.Among those hit by this on Tuesday were big tech stocks, +with Tesla Inc, Amazon.com Inc, Microsoft Corp +and Google-parent Alphabet Inc falling +between 2.1% and 3.9%.Not helping them was the fact the U.S. benchmark 10-year +Treasury notes hit a fresh three-month high.Higher yields typically weigh on growth stocks, whose +valuations tend to be based on future profits that are +discounted heavily as rates go higher.By 2:09 p.m. ET (1909 GMT), the Dow Jones Industrial Average +fell 649.81 points, or 1.92%, to 33,176.88, the S&P 500 +lost 78.6 points, or 1.93%, to 4,000.49 and the Nasdaq +Composite dropped 268.86 points, or 2.28%, to 11,518.41.After being an exception to Tuesday's big tech woes during +the morning, Meta Platforms Inc slipped 0.2%. The +Facebook parent had initially been buoyed by confirmation it was +testing a monthly subscription service called Meta Verified, +which will let users verify their accounts using a government ID +and get a blue badge.Elsewhere, Home Depot Inc slumped 6.3% to a +three-month low after the No. 1 domestic home improvement chain +warned of weakening demand and issued a dour profit forecast for +2023.Smaller rival Lowe's Cos Inc fell 5.2% ahead of its +results next week.Walmart forecast full-year earnings below estimates +and painted a grim picture of hotter-than-expected food +inflation squeezing profit margins. However, the world's largest +retailer recovered from an initial decline to gain 0.8%.Analysts are expecting earnings of S&P 500 companies to grow +by 1.6% in 2023, compared with 4.4% growth estimated at the +start of the year, as per Refinitiv data.All of the major 11 S&P 500 sectors fell, with the consumer +discretionary index's 3% decline leading the way. +(Reporting by Johann M Cherian and Medha Singh in Bengaluru and +David French in New York; Editing by Marguerita Choy and Anil +D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.02.21/Wall St tumbles as rising yields pressure growth stocks.txt b/news/AMZN/2023.02.21/Wall St tumbles as rising yields pressure growth stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..7da0ec980ac47c8f86ab553d1b1ca949d1df589a --- /dev/null +++ b/news/AMZN/2023.02.21/Wall St tumbles as rising yields pressure growth stocks.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Home Depot falls as FY profit forecast disappoints*Meta Platforms rises as Facebook tests subscription +service*U.S. business activity rebounds to eight-month high*Indexes down: Dow 1.61%, S&P 1.63%, Nasdaq 2.02%Feb 21 (Reuters) -Wall Street's main stock indexes fell on Tuesday, dragged +down by megacap names, after data showing a rebound in business +activity in February stoked fears that the Federal Reserve might +have more room to raise rates to control inflation.Tesla Inc, Amazon.com Inc, Microsoft +Corp and Google-parent Alphabet Inc fell +between 1.7% and 3.2%, as the yield on the U.S. benchmark +10-year Treasury notes hit a fresh three-month +high. [US?]Higher yields typically weigh on growth stocks, whose +valuations tend to be based on future profits that are +discounted heavily as rates go higher.The S&P Global Purchasing Manufacturer's index showed +that business activity in the U.S. rebounded to its highest +level in eight months in February to 50.2 from 46.8 in January, +buoyed by a robust services sector, according to asurvey."This (business activity) data doesn't do anything to +get rid of the fears that the Fed might be more hawkish and +might feel like taking rates higher than what investors were +thinking just a month ago," said Brian Jacobsen, senior +investment strategist at Allspring Global Investments.U.S. stocks had an upbeat start to the year after their +worst annual showing in more than a decade in 2022, as investors +hoped the central bank's rate-hike cycle was nearing its end.However, recent economic data has pointed to a resilient +economy, with inflation far from the Fed's 2% target, raising +bets for two or three more 25 basis point increases.Money market participants see the Fed fund rates peaking +at 5.35% in July and staying near those levels throughout the +year.At 12:43 p.m. ET, the Dow Jones Industrial Average +was down 543.47 points, or 1.61%, at 33,283.22, the S&P +500 was down 66.45 points, or 1.63%, at 4,012.64, and the +Nasdaq Composite was down 238.52 points, or 2.02%, at +11,548.75.Further weighing on markets,Home Depot Inc slumped 5.8% to a three-month low +after the No. 1 domestic home improvement chain warned of +weakening demand and issued a dour profit forecast for 2023.Smaller rival Lowe's Cos Inc fell 4.9% ahead of its +results next week.Walmart forecast full-year earnings below estimates +and painted a grim picture of hotter-than-expected food +inflation squeezing profit margins. However, the world's largest +retailer added 0.3%.Analysts are expecting earnings of S&P 500 companies to grow +by 1.6% in 2023, compared with 4.4% growth estimated at the +start of the year, as per Refinitiv data.Ten of the major 11 S&P 500 sectors fell, with the consumer +discretionary index slumping 2.7%.Meta Platforms Inc added 0.5% after the Facebook +parent said it was testing a monthly subscription service called +Meta Verified, which will let users verify their accounts using +a government ID and get a blue badge.Declining issues outnumbered advancers for a 6.17-to-1 ratio +on the NYSE and 4.24-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week high and one new low, +while the Nasdaq recorded 36 new highs and 85 new lows. +(Reporting by Johann M Cherian and Medha Singh in Bengaluru; +Editing by Saumyadeb Chakrabarty, Arun Koyyur and Anil D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.02.22/Amazon Games and NCSOFT Reach Deal to Publish Highly Anticipated Online Game THRONE AND...txt b/news/AMZN/2023.02.22/Amazon Games and NCSOFT Reach Deal to Publish Highly Anticipated Online Game THRONE AND...txt new file mode 100644 index 0000000000000000000000000000000000000000..00b0ef137b939ef23ec9ed12bb89f2bd144736c5 --- /dev/null +++ b/news/AMZN/2023.02.22/Amazon Games and NCSOFT Reach Deal to Publish Highly Anticipated Online Game THRONE AND...txt @@ -0,0 +1,23 @@ + +Amazon Games and NCSOFT today announced an agreement to bring massively multiplayer online role-playing game THRONE AND LIBERTY to North America, South America, Europe, and Japan. Amazon Games will publish the highly anticipated title for PC, PlayStation 5, and Xbox Series X|S, with support for cross-platform play. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230222005200/en/(Graphic: Business Wire) +“NCSOFT has created some of the most popular and longest-running online games in the world, so it’s no surprise that THRONE AND LIBERTY is among today’s most anticipated MMOs,” said Christoph Hartmann, VP, Amazon Games. “Publishing games that live and grow over time remains a critical piece of our strategy, and delivering games of the highest quality from the world’s most talented developers is one of the cornerstones of our business. The last year has taught us a great deal about publishing and managing a successful live-service game on a global scale, and we’re ready to bring THRONE AND LIBERTY players an incredible experience at launch.” + +THRONE AND LIBERTY is a massively multiplayer online role-playing game that combines story-driven adventure and action combat. In THRONE AND LIBERTY, players enter a vast world with constantly shifting geographical and environmental features that change the course of play. Massive-scale player vs. player and player vs. environment combat are fundamental to THRONE AND LIBERTY. Players can transform into animals to soar through the air or explore the depths of the sea, and even tip the odds of battle in their favor by triggering powerful environmental effects, like solar eclipses or rainstorms. + +NCSOFT has a long history of developing and publishing beloved multiplayer franchises across the globe, including Lineage, AION, Blade & Soul, and Guild Wars. THRONE AND LIBERTY is the latest next-gen MMO from the South Korea-based developer, and its first to be released across multiple regions in collaboration with an external publisher. + +“Amazon Games is one of the most reliable partners for publishing massive live-service games globally, with proven expertise in operations, localization, marketing, and community support,” said Moonyoung Choi, principal development management officer at NCSOFT. “For our next-gen flagship title, we’re confident they are the right publisher to bring THRONE AND LIBERTY’s inimitable value and its dynamic, immersive MMO experience to players around the world.” + +THRONE AND LIBERTY continues Amazon Games’ momentum in game publishing, following the success of its internally developed MMO New World and action RPG Lost Ark from Smilegate RPG, both of which have topped Steam and Twitch charts and continue to nurture strong player communities. Amazon has also announced publishing agreements with Bandai Namco Online for Blue Protocol, Crystal Dynamics for the next major Tomb Raider game, and Glowmade and Disruptive Games for unannounced titles. + +About Amazon Games + +At Amazon Games, our ambition is to create bold new experiences that foster community in and around our games. Our team of game industry veterans draws on the power of Prime Gaming, Twitch, Amazon retail, AWS, and more to push boundaries and deliver captivating experiences to our players. Amazon Games is developing AAA multiplayer games based on original IPs, including New World, with our studios and teams in Seattle, Orange County, San Diego, and Montreal. Amazon Games also publishes best-in-class third-party games, leading with Lost Ark from Smilegate RPG and Blue Protocol from Bandai Namco Online, as well as the next major Tomb Raider title from Crystal Dynamics. + +About NCSOFT + +NCSOFT, headquartered in Pangyo, Korea, is the world's premier publisher and developer of massively multiplayer online games, including the critically acclaimed Lineage, AION, Blade & Soul, Guild Wars franchises as well as numerous casual games. + +With approximately 5,000 employees worldwide, NCSOFT aims to provide fun for everyone, everywhere in the world. More information can be found at www.ncsoft.com. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230222005200/en/ \ No newline at end of file diff --git a/news/AMZN/2023.02.22/Amazon closes $3.9B buyout of health company One Medical.txt b/news/AMZN/2023.02.22/Amazon closes $3.9B buyout of health company One Medical.txt new file mode 100644 index 0000000000000000000000000000000000000000..4d6ed15cb4c42ff6521e94d7ca007cd151be8596 --- /dev/null +++ b/news/AMZN/2023.02.22/Amazon closes $3.9B buyout of health company One Medical.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Amazon said Wednesday it has closed its $3.9 billion acquisition of the primary care organization One Medical.The e-commerce giant has said the buyout, which was announced in July, is a key component of its growing health care business, which includes its online drugstore Amazon Pharmacy and a patient to doctor messaging service called Amazon Clinic.One Medical, which was owned by San Francisco-based 1Life Healthcare Inc, has about 815,000 members and 214 medical offices in more than 20 markets. Its membership-based service offers virtual care as well as in-person visits.The two companies said Wednesday that for the first year, membership will be available to new U.S. customers for $144, a 28% discount intended to lure new customers.Anti-monopoly groups have been calling on the Federal Trade Commission to block Amazon's purchase of the company, arguing it would endanger patient privacy and give the online retailer more dominance in the marketplace.Last September, both One Medical and Amazon received a request for additional information from the FTC in connection with a review of the merger. FTC spokesperson Peter Kaplan said the agency won't bring forth a lawsuit to block the merger. But it's not ruling out any challenges in the future.“The FTC’s investigation of Amazon’s acquisition of One Medical continues," Kaplan said in a statement. "The commission will continue to look at possible harms to competition created by this merger as well as possible harms to consumers that may result from Amazon’s control and use of sensitive consumer health information held by One Medical.”The One Medical purchase is the first acquisition made under Amazon CEO Andy Jassy, who took over from founder Jeff Bezos in 2021 and sees health care as a growth opportunity for the company.“Customers want and deserve better, and that’s what One Medical has been working and innovating on for more than a decade. Together, we believe we can make the health care experience easier, faster, more personal, and more convenient for everyone," Jassy said in a statement.The FTC is also reviewing Amazon’s $1.65 billion planned purchase of iRobot, which was announced last August.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AMZN/2023.02.22/Amazon completes One Medical takeover after FTC nod, discounts membership.txt b/news/AMZN/2023.02.22/Amazon completes One Medical takeover after FTC nod, discounts membership.txt new file mode 100644 index 0000000000000000000000000000000000000000..d2675db1b7699b25d5f83a7a09bd5be4e62f37bb --- /dev/null +++ b/news/AMZN/2023.02.22/Amazon completes One Medical takeover after FTC nod, discounts membership.txt @@ -0,0 +1 @@ +The acquisition, announced last July, gives the online retailer brick-and-mortar offices for consumers to receive medical care for the first time, in addition to a virtual health offering. Amazon also said it would discount One Medical membership to $144 from $199 for the first year to new customers, irrespective of whether they're Prime loyalty subscribers. (Reporting by Mrinmay Dey in Bengaluru and Jeffrey Dastin in Palo Alto, Calif.; Editing by Sherry Jacob-Phillips) \ No newline at end of file diff --git a/news/AMZN/2023.02.22/Nvidia forecasts first-quarter revenue above expectations.txt b/news/AMZN/2023.02.22/Nvidia forecasts first-quarter revenue above expectations.txt new file mode 100644 index 0000000000000000000000000000000000000000..6b04739e5d225e3b0602e1c1e7388f7d3e21604d --- /dev/null +++ b/news/AMZN/2023.02.22/Nvidia forecasts first-quarter revenue above expectations.txt @@ -0,0 +1 @@ +The company forecast current-quarter revenue of $6.50 billion, plus or minus 2%. Analysts on average expect $6.33 billion in revenue, according to Refinitiv data. (Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/AMZN/2023.02.22/One Medical Joins Amazon to Make It Easier for People to Get and Stay Healthier.txt b/news/AMZN/2023.02.22/One Medical Joins Amazon to Make It Easier for People to Get and Stay Healthier.txt new file mode 100644 index 0000000000000000000000000000000000000000..7138f6009fa92e8749287446c78d2e3638d6e29c --- /dev/null +++ b/news/AMZN/2023.02.22/One Medical Joins Amazon to Make It Easier for People to Get and Stay Healthier.txt @@ -0,0 +1,51 @@ + +Today, Amazon (NASDAQ: AMZN) and 1Life Healthcare, Inc. (NASDAQ: ONEM, “One Medical”) announced that Amazon completed its acquisition of One Medical. One Medical’s seamless in-office and 24/7 virtual care services, on-site labs, and programs for preventive care, chronic care management, common illnesses, and mental health concerns have been delighting people for the past 15 years. Together, Amazon and One Medical look to deliver exceptional health care to more people to achieve better health outcomes, better care experiences, and more value, within a better care team environment. For a limited time, One Medical is offering annual memberships at the discounted price of $144 for the first year (regularly $199/year), the equivalent of $12 per month, to new customers. Redeem the One Medical membership promotion and learn more about what’s included. + +“We’re on a mission to make it dramatically easier for people to find, choose, afford, and engage with the services, products, and professionals they need to get and stay healthy, and coming together with One Medical is a big step on that journey,” said Neil Lindsay, senior vice president of Amazon Health Services. “One Medical has set the bar for what a quality, convenient, and affordable primary care experience should be like. We’re inspired by their human-centered, technology-forward approach and excited to help them continue to grow and serve more patients.” + +“One Medical has been on a mission to help transform health care through its human-centered and technology-powered model to delight people with better health, better care, and better value, within a better team environment,” said Amir Dan Rubin, CEO of One Medical. “We now set our sights on delivering even further positive impacts for consumers, employers, care teams, and health networks, as we join Amazon with its long-term orientation, history of invention, and passion for reimagining a better future.” + +“If you fast forward 10 years from now, people are not going to believe how primary care was administered. For decades, you called your doctor, made an appointment three or four weeks out, drove 15-20 minutes to the doctor, parked your car, signed in and waited several minutes in reception, eventually were placed in an exam room, where you waited another 10-15 minutes before the doctor came in, saw you for five to ten minutes and prescribed medicine, and then you drove 20 minutes to the pharmacy to pick it up—and that’s if you didn’t have to then go see a specialist for additional evaluation, where the process repeated and could take even longer for an appointment,” said Amazon CEO Andy Jassy. “Customers want and deserve better, and that’s what One Medical has been working and innovating on for more than a decade. Together, we believe we can make the health care experience easier, faster, more personal, and more convenient for everyone.” + +One Medical sets a high bar for human-centered primary care experiences: + +Access to primary care where, when, and how people prefer, with: + +A comprehensive approach to make health care easier to navigate by offering: + +A more human health care experience enabled by: + +For customers looking for additional information, here are answers to some frequently asked questions: + +What does the One Medical membership fee cover? + +The One Medical annual membership fee covers access to One Medical’s on-demand and asynchronous virtual care services as well as high-touch and value-added personal services such as insurance navigation and referral management. The on-demand virtual services are accessible through the One Medical app (at no additional cost), featuring 24/7/365 on-demand video chats, secure provider messaging, “Treat Me Now” assessments for common health concerns, easy vaccine and medical record access, prescription renewals, and proactive reminders for follow-up care and referral needs. + +What does One Medical joining the Amazon family mean for current One Medical members? + +One Medical members can continue to count on One Medical for the high-quality care and high-level of service they receive. One Medical looks forward to continuing to increase access to care and improve health outcomes with the support of Amazon. + +How does One Medical differ from a typical primary care or urgent care practice? + +One Medical aims to make health care easier to access and even enjoyable, while improving health outcomes for people across every stage of life. One Medical offers same and next-day in-office or remote visits, seamlessly paired with 24/7 on-demand virtual care services through the One Medical mobile or web app, allowing members to seek care when and where it’s most convenient to them. One Medical is designed to better serve the needs of its patients and providers, including through thoughtfully designed and welcoming offices across the U.S., appointments that start on time, more appointment time with providers, and onsite labs. One Medical provides a comprehensive and human-centered primary care experience, including preventive and everyday health visits, chronic care management, pediatric and mental health services in a growing number of locations, and more. Members enjoy access to 24/7/365 virtual care services through the One Medical app, which allows them to continue their care from the comfort of home or on the go, whether it’s for acute needs at odd-hours, or to simply manage follow-up needs and prescription renewals. + +Do Amazon Prime members receive One Medical memberships? + +No, One Medical membership is separate from Prime membership. For a limited time, One Medical membership, regardless of Prime membership, is available to new U.S. customers for $144 for the first year (regularly $199/year), the equivalent of $12 per month. Visit here to redeem the One Medical membership promotion and learn more about what’s included. + +How do Amazon and One Medical protect private health information? + +The Health Insurance Portability and Accountability Act (HIPAA) governs what One Medical, Amazon, and others can do with Protected Health Information and this includes information like medication history, medical conditions, and treatment information. Amazon and One Medical have extensive experience protecting data of all kinds appropriately across a variety of businesses and nothing about this acquisition changes Amazon or One Medical’s commitment to privacy or the strong protections we have for Protected Health Information. + +About Amazon + +Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews. + +About One Medical + +One Medical is a U.S. national human-centered and technology-powered primary care organization with seamless digital health and inviting in-office care, convenient to where people work, shop, live, and click. One Medical’s vision is to delight millions of members with better health and better care while reducing costs, within a better team environment. One Medical’s mission is to transform health care for all through a human-centered, technology-powered model. Headquartered in San Francisco, 1Life Healthcare, Inc. is the administrative and managerial services company for the affiliated One Medical physician-owned professional corporations that deliver medical services in-office and virtually. 1Life and the One Medical entities do business under the “One Medical” brand. + +Cautionary Statement Regarding Forward-Looking Statements + +This press release contains forward-looking statements. We use words and phrases such as anticipate, believe, expect, intend, look to, set our sights on, mission, future, and similar expressions to identify forward-looking statements. Actual results could differ materially from those contemplated by the forward-looking statements. Factors that could cause actual results to differ materially include the following: Amazon may be unable to achieve the anticipated benefits of the transaction; Amazon may be unsuccessful in integrating One Medical’s business into its operations; operating costs, customer loss, and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, partners, and commercial counterparties) may be greater than expected; Amazon may assume unexpected risks and liabilities; initiatives with One Medical may distract Amazon’s management from other important matters; regulatory impediments may arise, either with respect to the acquisition itself or Amazon’s operation of One Medical’s business; and the other factors discussed in “Risk Factors” in Amazon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and in Amazon’s other filings with the SEC, which are available at http://www.sec.gov. Amazon assumes no obligation to update the information in this press release, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005953/en/ \ No newline at end of file diff --git a/news/AMZN/2023.02.22/Wall St slightly higher as investors focus on Fed minutes.txt b/news/AMZN/2023.02.22/Wall St slightly higher as investors focus on Fed minutes.txt new file mode 100644 index 0000000000000000000000000000000000000000..34c1f01202e8c26515201c59670e0040d35b4865 --- /dev/null +++ b/news/AMZN/2023.02.22/Wall St slightly higher as investors focus on Fed minutes.txt @@ -0,0 +1,43 @@ +*Fed minutes due at 2:00 p.m. ET*Palo Alto Networks rises on upbeat forecast*CoStar slumps as talks to buy Move from News Corp stalled*Indexes up: Dow 0.26%, S&P 0.22%, Nasdaq 0.28%Feb 22 (Reuters) - Wall Street's main indexes edged +higher in choppy trading on Wednesday, a day after their worst +performance of the year, as investors awaited minutes from the +Federal Reserve's policy meeting for fresh clues on the +trajectory of interest rates.U.S. stocks shed more than 2% on Tuesday after a rebound in +business activity in February stoked fears of interest rates +staying higher for longer.Minutes from the Fed's Jan. 31-Feb. 1 meeting, due at 2:00 +p.m. ET, are expected to detail the breadth of debate at the +central bank about the rate hike path."Few members of the Fed have talked publicly about the +case for a 50 bp hike and investors would want to gauge how +serious that discussion is within the central bank," said Matt +Stucky, senior portfolio manager at Northwestern Mutual Wealth +Management Co.St. Louis Fed President James Bullard, who advocated for +a half-point increase at the Fed's last session, said the U.S. +central bank needs to get inflation toward its 2% goal this year +to avoid its prolonged impact.New York Fed President John Williams, a voting member of the +rate-setting committee this year, is scheduled to speak later in +the day.Following a market rout in 2022, the three major indexes +logged monthly gains in January as investors hoped the Fed would +pause its rate hikes and perhaps pivot around year-end.However, stocks have had a volatile run in February, leaving +the Dow flat for the year as traders priced in higher interest +rates for longer, assuming that inflation remains higher in a +sturdy economy.Money market participants expect rates to peak at 5.35% by +July and stay around those levels till the end of 2023.At 12:29 a.m. ET, the Dow Jones Industrial Average +was up 87.29 points, or 0.26%, at 33,216.88, the S&P 500 +was up 8.86 points, or 0.22%, at 4,006.20, and the Nasdaq +Composite was up 31.84 points, or 0.28%, at 11,524.14.Nine of the 11 major S&P 500 sectors gained, with consumer +discretionary stocks climbing 0.9%.Analysts polled by Reuters expect the S&P 500 index to +advance 5% by year-end, but high-interest rates and inflation +have led many strategists to predict a correction within the +next three months.Growth names like Tesla Inc, Nvidia Corp, +Qualcomm Inc and Amazon.com Inc edged higher +as the yield on 10-year U.S. Treasury notes slid from +multi-month highs.Palo Alto Networks Inc rose 11.6% after the +cybersecurity company raised its annual profit forecast.CoStar Group dropped 4.0% as the online real estate +marketplace provider said it was no longer in talks to buy +Realtor.com-owner Move Inc from News Corp and forecast +disappointing first-quarter revenue.Advancing issues outnumbered decliners by a 1.69-to-1 +ratio on the NYSE. Advancing issues outnumbered decliners by a +1.27-to-1 ratio on the Nasdaq.The S&P index recorded three new 52-week highs and one new +lows, while the Nasdaq recorded 21 new highs and 92 new low. +(Reporting by Johann M Cherian and Medha Singh in Bengaluru; +Editing by Arun Koyyur and Anil D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.02.23/EU eyes Big Tech as it seeks feedback on who should pay network costs.txt b/news/AMZN/2023.02.23/EU eyes Big Tech as it seeks feedback on who should pay network costs.txt new file mode 100644 index 0000000000000000000000000000000000000000..985d2e0956dbeaf46e20c6d0fe5873e676560ec0 --- /dev/null +++ b/news/AMZN/2023.02.23/EU eyes Big Tech as it seeks feedback on who should pay network costs.txt @@ -0,0 +1 @@ +The move by the EU executive followed more than two decades of lobbying by Deutsche Telekom, Orange, Telefonica, Telecom Italia and other operators who want leading technology companies to contribute to 5G and broadband roll-out.They said the companies including Amazon and Microsoft account for more than half of data internet traffic. Big Tech in turn calls it an internet tax that will undermine EU network neutrality rules to treat all users equally.EU officials said the 12-week consultation will look at "fair contribution by all digital players". Tech and telecoms companies will be asked to respond to 60 questions. The Commission is likely to propose legislation after the consultation, which will need to be agreed with EU countries and EU lawmakers before it can become law.According to a document seen by Reuters last month, respondents will be asked whether CAPs (content application providers)/LTGs (large traffic generators) should be subject to a mandatory mechanism of direct payments to finance network deployment.The questionnaire also asked whether the EU should create a continental or digital levy or fund. "This consultation is a positive and urgent step towards addressing major imbalances in the internet ecosystem to the benefit of European end-users," telecoms lobbying group ETNO said in a statement.Tech group Computer & Communications Industry Association (CCIA) criticised the proposal. "Europeans already pay telecom operators for internet access, they should not have to pay telcos a second time through pricier streaming and cloud services," Christian Borggreen, CCIA Europe's senior vice president, said in a statement. (Reporting by Foo Yun Chee; Editing by Tomasz Janowski)By Foo Yun Chee \ No newline at end of file diff --git a/news/AMZN/2023.02.23/Jonathan Majors Receives an IMDb STARmeter Award.txt b/news/AMZN/2023.02.23/Jonathan Majors Receives an IMDb STARmeter Award.txt new file mode 100644 index 0000000000000000000000000000000000000000..253dbabc5a86b46af895d04d6cab48c5d8cf7d46 --- /dev/null +++ b/news/AMZN/2023.02.23/Jonathan Majors Receives an IMDb STARmeter Award.txt @@ -0,0 +1,21 @@ + +IMDb (www.imdb.com), the world's most popular and authoritative source for information on movies, TV shows, and celebrities, presented an IMDb “Fan Favorite” STARmeter Award to Lovecraft Country, The Last Black Man in San Francisco, and Ant-Man & The Wasp: Quantumania star Jonathan Majors. IMDb STARmeter Awards recognize the stars who are strong performers on the IMDbPro STARmeter rankings, which chart the page views of the more than 200 million monthly visitors to IMDb worldwide. Majors' STARmeter Award is also in celebration of Black History Month, for which IMDb features exclusive videos, editorial lists, and photo galleries recognizing Black talent, filmmakers, titles, and achievements. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230223005018/en/Jonathan Majors Receives an IMDb "Fan Favorite" STARmeter Award (Photo by Corey Nickols/Getty Images for IMDb) +Jonathan Majors continues to hold a strong presence on the IMDbPro STARmeter chart, propelled by his recent performance as Kang the Conqueror in Ant-Man and the Wasp: Quantumania. The blockbuster film released this past weekend, boosting Majors to the #13 spot on the IMDb STARmeter chart, and is trending as #2 on the IMDb MOVIEmeter. Majors was recently presented with the Actor Award in Film for his role in Devotion at the 2022 Critics Choice Association Celebration of Black Cinema and Television. He also earned an Emmy nomination for his role in Lovecraft Country, an Independent Spirit Award nomination for The Last Black Man in San Francisco, a 2021 African American Film Critics Association (AAFCA) TV award for Best Actor in Lovecraft Country, and a 2021 Gotham Awards Ensemble Tribute for The Harder They Fall. Fans are eager to watch his performance in Creed III and his role as Killian Maddox in the feature film Magazine Dreams, which recently premiered to rave reviews at this year’s Sundance Film Festival. Video of Majors accepting his STARmeter Award is available here: https://www.imdb.com/video/vi1286259737/ + +Speaking with IMDb, Jonathan Majors shared his appreciation for the award, saying, “IMDb fans, thank you so much for checking out my IMDb name page and making me the STARmeter Award winner. When I first started pursuing a career in TV and film, IMDb was an essential resource in helping me understand the entertainment industry and it continues to help me discover titles to watch and connect with other professionals.” + +“Jonathan’s stand-out performances in titles including Ant-Man and the Wasp: Quantumania, The Last Black Man in San Francisco, The Harder They Fall, Devotion, and Lovecraft Country have captivated audiences worldwide and driven fans and professionals to IMDb and IMDbPro to learn more about his work,” said Nikki Santoro, IMDb chief operating officer. “As part of our recognition of Black History Month and our ongoing commitment to highlighting extraordinary entertainment talent who are reflective of our diverse global audience, we are honored to celebrate Jonathan's accomplishments and growing career.” + +Throughout the month of February, IMDb is featuring prominent Black actors, directors, producers, and writers with exclusive videos, and curated photo galleries. Features including “What to Watch: Important Black Stories” (which includes Jonathan Majors), “A Celebration of Black Superheroes,” and a photo gallery highlighting “Black Hollywood Stars to Watch in 2023.” As an advocate for Black voices, Majors currently sits on the board of directors for The Gotham, and was a driving force behind The Gotham’s Sidney Poitier Initiative (SPI), a program whose pillars focus on mentorship, scholarship, project funding, and career advancement of Black and other marginalized artists. SPI strives to expand on Sidney Poitier’s legacy and to support the next generation of filmmakers. + +Jonathan Majors also shared some of the actors and filmmakers who have inspired his career, including Sidney Poitier, Denzel Washington, and director Yann Demange. Majors shared how Poitier and Washington inspired him to become an actor, saying, “the very existence of Sidney Poitier and Denzel Washington let me know that a career in entertainment was possible.” IMDb users can add the TV series and films from Majors’ IMDb filmography, as well as other titles, to their IMDb Watchlist at www.imdb.com/watchlist. + +Previous IMDb “Fan Favorite” STARmeter Award recipients include Jennifer Connelly, Simu Liu, Lauren Ridloff, Eiza González, Rachel Brosnahan, Peter Dinklage, Sam Rockwell, and Alexander Skarsgård. Learn more about IMDb STARmeter Awards at www.imdb.com/starmeterawards. + +Additional insight into trending movies, TV shows, and celebrities, with rankings updated weekly, is available to IMDbPro members throughout the year on both the site and apps for iPhone, iPad, and Android. IMDbPro is the essential resource for entertainment industry professionals and includes comprehensive information and tools designed to help members achieve success throughout all stages of their career. IMDbPro offers the following: detailed contact and representation information; more than 25,000 in-development film and TV titles not available on IMDb; tools to manage and showcase their IMDb profile, including selecting their primary images and the credits they are best “known for;” IMDbPro Track, which allows members to receive personalized entertainment industry news and updates on the people and film and TV projects they want to follow; and a convenient tool that generates custom digital assets to promote their work on social media and other platforms. To become a member today, visit imdbpro.com. + +About IMDb + +IMDb is the world's most popular and authoritative source for information on movies, TV shows, and celebrities. Products and services to help fans decide what to watch and where to watch it include: the IMDb website for desktop and mobile devices; apps for iOS and Android; and X-Ray on Prime Video. IMDb also produces IMDb original video series and podcasts. For entertainment industry professionals, IMDb provides IMDbPro and Box Office Mojo. IMDb licenses information from its vast and authoritative database to third-party businesses worldwide; learn more at developer.imdb.com. IMDb is an Amazon company. For more information, visit imdb.com/press and follow @IMDb. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005018/en/ \ No newline at end of file diff --git a/news/AMZN/2023.02.23/Mexico's Televisa posts Q4 net loss of 13.75 billion pesos.txt b/news/AMZN/2023.02.23/Mexico's Televisa posts Q4 net loss of 13.75 billion pesos.txt new file mode 100644 index 0000000000000000000000000000000000000000..7b9b403685199a88466d1eb36e59b23a193fbbcd --- /dev/null +++ b/news/AMZN/2023.02.23/Mexico's Televisa posts Q4 net loss of 13.75 billion pesos.txt @@ -0,0 +1 @@ +The result compares with a net profit of 3.7 billion pesos in the year-earlier period, according to a statement filed with the Mexican stock exchange.The company's revenue increased 1.6% from the year-earlier period to 19.13 billion pesos, slightly missing the Refinitiv forecast of 19.28 billion pesos. TelevisaUnivision, a firm that combines content with U.S. broadcaster Univision, has rolled out a subscription-based version of streaming platform, ViX+, which will compete with established rivals like Netflix Inc and Amazon.com Inc's Prime Video. Televisa said in its statement that it saw losses partially related to depreciation in the value of the TelevisaUnivision venture recognized in the quarter. Sky, Televisa's satellite TV unit, had about 410,400 disconnections of revenue generating units, and sales in the quarter decreased by 8.1%. Shares of Televisa closed slightly higher with a gain of 1.15% on Thursday the company released its report. (Reporting by Carolina Pulice and Noe Torres; Writing by Cassandra Garrisson; Editing by Brendan O'Boyle and Bradley Perrett) \ No newline at end of file diff --git a/news/AMZN/2023.02.23/Read the full report and watch training which reveals top resilient income streams in t...txt b/news/AMZN/2023.02.23/Read the full report and watch training which reveals top resilient income streams in t...txt new file mode 100644 index 0000000000000000000000000000000000000000..ec61958cf2748e8fac0a4adcfe676f7452e51d83 --- /dev/null +++ b/news/AMZN/2023.02.23/Read the full report and watch training which reveals top resilient income streams in t...txt @@ -0,0 +1 @@ +To get guidance for starting and scaling a business in challenging times read full report and watch the training.New Report Provides Insights into Businesses that Offer a Resilient Income Stream in a Down Market, Including Selling on Amazon training. SaazLife, a leading research and consulting firm, is sharing a new report titled "How-to-Profit-From-A-Recession." It's a brilliant little report that will outline a completely different approach to extracting profits from Amazon and yeah, it's recession-proof. Complementing the report is an exclusive webinar replay which is going to be available till March 2nd. The webinar "The Wholesale Formula" shows the step-by-step method to gain in the down market.This exclusive report and webinar offer comprehensive insights into businesses most suitable for starting an income stream during a down market, including selling on Amazon.As the global economy continues to be impacted by recent events, many businesses are struggling to stay afloat. However, the report highlights that there are still plenty of opportunities for entrepreneurs willing to adapt to changing market conditions.The report examines a range of industries, including e-commerce, healthcare, technology, and food and beverage, and identifies businesses that have proven resilient during economic downturns. It also provides guidance on how to start and scale a business in these industries, including selling on Amazon."Our research has shown that even in a down market, there are still opportunities for entrepreneurs to start a business that offers a resilient income stream," quotes Anish Chatterjea, CEO of SaazLife. "In the online marketing world, people tend to avoid it, because it's either too much competition, it pays too little, or you have to wait for results for too long. Or all of that, combined. They couldn't be more wrong, though. If you knew what I know, you would be Amazon's biggest fan. We found that selling on Amazon can be a huge benefit for creating an additional income for anyone, especially during these challenging times."The webinar training and report covers the following topics:- Overview of the current down market- Businesses that have proven to be resilient during economic downturns- Detailed analysis of each industry and businesses within it- Strategies for starting and scaling a business in each industry, including selling on Amazon- Case studies of successful businesses that have thrived during a down market, including those that sell on AmazonSelling on Amazon has become an increasingly popular option for entrepreneurs looking to start a business or diversify their income streams. The report outlines the benefits of selling on Amazon, including access to a global marketplace, low start-up costs, and the ability to reach millions of potential customers.The report also provides guidance on how to start selling on Amazon, including how to choose the right product, create an effective listing, and optimize for search. It also includes case studies of successful Amazon sellers and tips for scaling a business on the platform.The report is available for download on SaazLife's website and can be accessed by visiting https://secure.saazpro.com/2023-Report.To check the webinar replay visit: https://secure.saazpro.com/Online-TrainingIt is an essential resource for entrepreneurs looking to start a business and generate a resilient income stream in the current down market, particularly for those interested in selling on Amazon.SaazLife is a leading research and consulting firm that provides insights and guidance to businesses across various industries. Our team of experts is dedicated to helping our clients navigate challenging market conditions and achieve their business goals.Media ContactCompany Name: SaazLifeContact Person: Anish ChatterjeaEmail: anish@saazpro.comCity: Los AngelesState: CaliforniaCountry: United StatesWebsite: secure.saazpro.com/FreeBookSource: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AMZN/2023.02.23/S&P, Dow dip as resilient economic data stokes fears of rate hikes.txt b/news/AMZN/2023.02.23/S&P, Dow dip as resilient economic data stokes fears of rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..2f81aa031837d613a02c671ba3b5488801cfda01 --- /dev/null +++ b/news/AMZN/2023.02.23/S&P, Dow dip as resilient economic data stokes fears of rate hikes.txt @@ -0,0 +1,49 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia hits 10-month high on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4*Indexes: Dow down 0.3%, S&P dips 0.02%, Nasdaq up 0.06%Feb 23 (Reuters) -Wall Street was mostly lower in choppy trading on Thursday, +with the S&P 500 on track for a fifth straight daily decline and +the Dow Jones Industrial Average down too, as investors remained +wary of further interest rate hikes due to recent strong U.S. +economic data.On a topsy-turvy day, the tech-heavy Nasdaq was up slightly, +retreating from a session high earlier of more than 1%. Megacap +stocks were mixed, with Tesla Inc up and Amazon.com Inc +lower.Stock markets have been volatile this month, with the S&P +500 shedding more than 4% in the past six sessions, as data +pointing to a strong economy and hawkish commentary by Fed +officials dented appetite for risky assets.The Labor Department said the number of Americans filing new +claims for unemployment benefits unexpectedly fell last week, +reflecting tight labor market conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though rising inventory levels were responsible +for much of the increase.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."Any incremental piece of economic data builds the narrative +of the bears in the market that the rally so far is a false +euphoria, and this is weighing on the market more than the good +news from some of these earnings," said Peter Andersen, founder +of Andersen Capital Management.Analysts polled by Reuters predicted a correction within the +next three months even though they expect the S&P 500 to +climb 5% by year-end.Right now, the S&P is testing both the 50-day moving average +at 3,980 points and the 200-day moving average at 3,940.Nvidia Corp surged 14.2% to the highest in more +than 10 months after the company forecast quarterly sales above +estimates and reported a surge in the use of its chips to power +artificial intelligence services.Other chipmakers also gained, including Broadcom Inc +up 0.4% and Qualcomm Inc rising 0.8%. The +Philadelphia SE Semiconductor index climbed 2.5%.At 2.06 p.m. ET, the Dow Jones Industrial Average +fell 97.71 points, or 0.3%, to 32,947.38, the S&P 500 +lost 0.92 points, or 0.02%, to 3,990.13 and the Nasdaq Composite +added 6.36 points, or 0.06%, to 11,513.43.Eight of the 11 major S&P 500 sectors declined, with +communication services dropping 1.1%, hurt by a 3.8% +fall in Netflix Inc on reports that the streaming +service was cutting subscription prices in 30 countries.The communication services index was on course for its fifth +straight decline, which would be its biggest since another +five-loss streak in October.Energy was one of the few gainers, rising 1.3% +on the back of higher crude prices. Should the index +advance hold, it would halt a losing run at seven, tying its +worst stretch since an eight-session skid in March 2017.Among other stocks, eBay Inc slid 5.8% after +warning of dour demand in the first half of 2023 due to strained +consumer spending in the United States and Europe.Moderna Inc fell 8.4% after the vaccine maker +reaffirmed its annual sales forecast of $5 billion for its +COVID-19 vaccines despite its fourth-quarter sales exceeding +estimates. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Editing by Savio D'Souza, Arun +Koyyur, Anil D'Silva and David Gregorio) \ No newline at end of file diff --git a/news/AMZN/2023.02.23/U.S. likely to cap level of S.Korean chips made in China- U.S. official.txt b/news/AMZN/2023.02.23/U.S. likely to cap level of S.Korean chips made in China- U.S. official.txt new file mode 100644 index 0000000000000000000000000000000000000000..f9cabd0e757a53cd647d6ebe0f8990c77ab59bb2 --- /dev/null +++ b/news/AMZN/2023.02.23/U.S. likely to cap level of S.Korean chips made in China- U.S. official.txt @@ -0,0 +1 @@ +In October, South Korea's Samsung Electronics and SK Hynix, the world's top memory chip makers, received an one-year reprieve from U.S. export restrictions aimed at thwarting Beijing's technological ambitions and blocking its military advances. "What will likely be is a cap on the levels that they can grow to in China," said Alan Estevez, the U.S. Commerce Department's under secretary for industry and security, when asked what would happen after the waiver ended.Estevez who oversees restrictions on tech exports to China made the comments on Thursday during a forum hosted by the Center for Strategic and International Studies, a Washington-based think tank."If you're at whatever layer of NAND, we will stop it somewhere in that range," Estevez said, referring to a flash memory product manufactured by Samsung and SK. He added that the U.S. government was in deep dialogue with the South Korean chipmakers."We work with them to ensure that we aren't going to harm our allies' companies. At the same time, we're going to impede the Chinese capability of building capabilities that are going to threaten us collectively," he said.Samsung Electronics and SK Hynix were not immediately available for comment. Samsung and SK Hynix, which control about half of the global NAND flash memory chip market, have invested heavily in China in recent decades to produce chips that are vital to customers including tech giants Apple, and Amazon.Earlier, an American official acknowledged the existence of a deal with Japan and the Netherlands for those countries to impose new restrictions on exports of chipmaking tools to China. (Reporting by Ju-min Park and Heekyong Yang; Editing by Kim Coghill) \ No newline at end of file diff --git a/news/AMZN/2023.02.23/U.S. weekly jobless claims fall ; fourth-quarter growth trimmed.txt b/news/AMZN/2023.02.23/U.S. weekly jobless claims fall ; fourth-quarter growth trimmed.txt new file mode 100644 index 0000000000000000000000000000000000000000..eed94fce0cb6e2264e81849cdb84ad4873d37b2e --- /dev/null +++ b/news/AMZN/2023.02.23/U.S. weekly jobless claims fall ; fourth-quarter growth trimmed.txt @@ -0,0 +1 @@ +Initial claims for state unemployment benefits decreased 3,000 to a seasonally adjusted 192,000 for the week ended Feb. 18, the Labor Department said on Thursday. Economists polled by Reuters had forecast 200,000 claims for the latest week. Claims have been hemmed in a tight 183,000-206,000 range this year. They have been consistently low despite high-profile layoffs in the technology sector and interest-rate sensitive industries.Economists have long argued that the big job cuts by Twitter, Microsoft Amazon.com and Meta, the parent of Facebook, which over-hired during the pandemic, were not representative of the overall economy.That view is also shared by policymakers. Minutes of the Federal Reserve's Jan. 31 and Feb. 1 policy meeting published on Wednesday showed "several participants noted that recent reductions in the workforces of some large technology businesses followed much larger increases over the previous few years and judged that these reductions did not appear to reflect widespread weakness in the demand for labor."The U.S. central bank has raised its policy rate by 450 basis points since last March from near zero to a 4.50%-4.75% range, with the bulk of the increases between May and December. Though two additional rate hikes of 25 basis points are expected in March and May, financial markets are betting on another increase in June because of sustained labor market strength.STRONG EMPLOYMENT GAINSThe claims data covered the week during which the government surveyed business establishments for the nonfarm payrolls component of February's employment report. Claims were unchanged between the January and February survey weeks. Economists expect strong employment growth in February, though the pace probably slowed from last month's eye-popping 517,000 jobs. Data next week on the number of people receiving benefits after an initial week of aid will offer more light on the state of the labor market in February.The so-called continuing claims, a proxy for hiring, dropped 37,000 to 1.654 million during the week ending Feb 11, the claims report also showed. Though continuing claims have been elevated in recent weeks, they remain very low by historical standards amid millions of job openings. There were 1.9 job openings for every unemployed person in December, data showed this month. The unemployment rate at 3.4% in January was the lowest in more than 53 years. Goldman Sachs said on Wednesday it expected the jobless rate to rise to 3.6% by the end of this year and stay there at the end of 2024.Strong wage growth generated by the tight labor market is helping to underpin consumer spending and the overall economy. A separate report from the Commerce Department on Thursday confirmed that the economy grew solidly in the fourth quarter, though much of the increase in output came from unsold goods at businesses.Gross domestic product increased at a revised 2.7% annualized rate last quarter, the government said in its second estimate of fourth-quarter GDP. That was revised down from the 2.9% pace reported last month. Economists had expected GDP growth to be unrevised. The robust second-half growth erased the 1.1% contraction in the first six months of the year. Though activity slowed in the last two months of 2022, the economy appears to have regained speed at the start of the new year.Retail sales growth surged in January and production at factories rebounded as did activity in the services industry. The housing market slump looks to be nearing a bottom, with sales of previously owned homes falling moderately last month. But monthly inflation accelerated in January. (Reporting by Lucia Mutikani; Editing by Chizu Nomiyama) \ No newline at end of file diff --git a/news/AMZN/2023.02.23/Wall St ends topsy-turvy day higher, S&P snaps losing streak.txt b/news/AMZN/2023.02.23/Wall St ends topsy-turvy day higher, S&P snaps losing streak.txt new file mode 100644 index 0000000000000000000000000000000000000000..ed6da973efb218d467515d17c24641f2e8da5f5c --- /dev/null +++ b/news/AMZN/2023.02.23/Wall St ends topsy-turvy day higher, S&P snaps losing streak.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia jumps on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4Feb 23 (Reuters) -The main Wall Street benchmarks closed a topsy-turvy +Thursday in positive territory, with the S&P 500 snapping a +four-session losing streak, as investors grappled with how +interest rate policy might affect the U.S. economy.Stock markets have been volatile this year, pulling back in +February after a strong January as investors try to figure out +what the U.S. Federal Reserve will do with interest rates. +Hawkish comments from policymakers have been interspersed with +data pointing to a strong American economy.On Thursday, the Labor Department said the number of +Americans filing new claims for unemployment benefits +unexpectedly fell last week, reflecting tight labor market +conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though rising inventory levels were responsible +for much of the increase.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."If you're a bull, you can pull out plenty of things that +are supportive, and if you're bear there are plenty of things to +point to that are supportive," said Jack Janasiewicz, lead +portfolio strategist at Natixis Investment Managers Solutions."There are so many cross currents that are moving in +very different directions, I think it's very difficult to fall +back on one or two things. That's creating a lot of +hand-wringing uncertainty, and we're range-trading as a result +of it."For part of the day, the S&P was trading below its 50-day +moving average of 3,980 points, before rallying in the +afternoon.Influencing this intraday dip werelarge trades in short-dated derivativesthat piled selling pressure on the market, according to +Nomura strategist Charlie McElligott.Helping provide confidence to buyers was positive +earnings fromNvidia Corp, which surged after forecasting +quarterly sales above estimates and reporting a surge in the use +of its chips to power artificial intelligence services.Other chipmakers also gained, including Broadcom Inc +and Qualcomm Inc. The Philadelphia SE +Semiconductor index climbed.According to preliminary data, the S&P 500 +gained 21.09 points, or 0.53%, to end at 4,012.14 points, +while the Nasdaq Composite gained 83.26 points, or +0.72%, to 11,590.33. The Dow Jones Industrial Average +rose 113.99 points, or 0.34%, to 33,159.08.Many of the 11 major S&P 500 sectors rose. Higher crude +prices pushed energy to be one of the biggest gainers on +the day, and also helped the index halt a losing run at seven. +This tied its worst stretch since an eight-session skid in March +2017.Among the fallers was communication services, +which recorded its fifth straight decline, matching another +five-loss streak in October. It was weighed by Netflix Inc +, which slipped on reports that the streaming service +was cutting subscription prices in 30 countries.Among other stocks, eBay Inc slid after warning of +dour demand in the first half of 2023 due to strained consumer +spending in the United States and Europe.Moderna Inc fell after the vaccine maker reaffirmed +its annual sales forecast of $5 billion for its COVID-19 +vaccines despite its fourth-quarter sales exceeding estimates.However, Bumble Inc jumped. The owner of the +eponymous dating app projected annual revenue growth above +market estimates on optimism over rising paying users. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Editing by Savio D'Souza, Arun +Koyyur, Anil D'Silva and David Gregorio) \ No newline at end of file diff --git a/news/AMZN/2023.02.23/Wall Street falls as rate worries outweigh Nvidia cheer.txt b/news/AMZN/2023.02.23/Wall Street falls as rate worries outweigh Nvidia cheer.txt new file mode 100644 index 0000000000000000000000000000000000000000..c8e353b92d4f8ccc7076d9255f05f3dfa4015d6f --- /dev/null +++ b/news/AMZN/2023.02.23/Wall Street falls as rate worries outweigh Nvidia cheer.txt @@ -0,0 +1,44 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia hits 10-month high on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4*Indexes down: Dow 0.59%, S&P 0.34%, Nasdaq 0.36%Feb 23 (Reuters) - U.S. stock indexes slipped on +Thursday as investors worried that a resilient economy would +give the Federal Reserve more room to raise interest rates, +although a surge in Nvidia shares helped lift some of that +gloom.Stock markets have hit a volatile patch this month, with +the S&P 500 shedding more than 4% in the past six sessions, as +data pointing to a strong economy and hawkish commentary by Fed +officials dent appetite for risky assets.The Labor Department said the number of Americans filing +new claims for unemployment benefits unexpectedly fell last +week, reflecting tight labor market conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though much of the increase in output came from +rising inventory levels at businesses.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."Any incremental piece of economic data builds the +narrative of the bears in the market that the rally so far is a +false euphoria, and this is weighing on the market more than the +good news from some of these earnings," said Peter Andersen, +founder of Andersen Capital Management.Analysts polled by Reuters predict a correction within +the next three months even though they expect the S&P 500 +to climb 5% by year-end.The tech-heavy Nasdaq slipped after rising more than 1% +earlier in session, as megacap stocks including Apple +and Amazon.com Inc fell.Nvidia Corp surged 13.3% to a more than 10-month +high after the company forecast quarterly sales above estimates +and reported a surge in the use of its chips to power artificial +intelligence services.Other chipmakers such as Broadcom Inc, Qualcomm +Inc and Intel Corp rose between 0.2% and 2.6%. +The Philadelphia SE Semiconductor index climbed 1.8%.At 12:34 p.m. ET, the Dow Jones Industrial Average +was down 195.20 points, or 0.59%, at 32,849.89, the S&P 500 +was down 13.44 points, or 0.34%, at 3,977.61, and the +Nasdaq Composite was down 41.84 points, or 0.36%, at +11,465.23.Nine of the 11 major S&P 500 sectors declined, with +communication services dropping 1.5%, hurt by a 5.7% +fall in Netflix Inc on reports that the streaming +service was cutting subscription prices in 30 countries.Among other stocks, eBay Inc slid 7.2% after +warning of dour demand in the first half of 2023 due to strained +consumer spending in the United States and Europe.Moderna Inc fell 8.4% after the vaccine maker +reaffirmed its annual sales forecast of $5 billion for its +COVID-19 vaccines despite its fourth-quarter sales exceeding +estimates.Declining issues outnumbered advancers for a 1.28-to-1 +ratio on the NYSE and a 1.45-to-1 ratio on the Nasdaq.The S&P index recorded seven new 52-week highs and three new +lows, while the Nasdaq recorded 40 new highs and 102 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; +Editing by Savio D'Souza, Arun Koyyur and Anil D'Silva) \ No newline at end of file diff --git a/news/AMZN/2023.02.24/Futures slide on caution ahead of inflation data.txt b/news/AMZN/2023.02.24/Futures slide on caution ahead of inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..9a605b775c57625d459e440fe771d594577577c7 --- /dev/null +++ b/news/AMZN/2023.02.24/Futures slide on caution ahead of inflation data.txt @@ -0,0 +1 @@ +The core personal consumption expenditure (PCE) index is expected to have risen 0.4% on a monthly basis in January from 0.3% in December. Annual core PCE, however, is seen easing to 4.3% last month from 4.4%. The data is expected at 8:30 a.m. ET.The three major U.S. indexes are set for weekly losses despite a modest rebound in the previous session, with the blue-chip Dow set for post losses for February.After a strong January, equity markets have retreated this month as a slew of economic data fed into worries that the central bank might have to keep interest rates higher for longer on sticky inflation and a resilient labor market.Market participants expect the Fed fund rates to peak at 5.35% by July and stay near those levels till year-end.Megacap stocks like Tesla Inc, Amazon.com Inc and Nvidia Corp slid around 1% each in premarket trading as yield on the benchmark U.S. 10-year Treasury note edged up. [US/]At 6:40 a.m. ET, Dow e-minis were down 164 points, or 0.49%, S&P 500 e-minis were down 24 points, or 0.6%, and Nasdaq 100 e-minis were down 111.5 points, or 0.91%.Separately, January home sales data and the University of Michigan's final reading of consumer sentiment for February are also due later in the day. A string of Fed policymakers including Cleveland Fed President Loretta Mester and Boston Fed President Susan Collins are also slated to speak.Boeing Co slid 3% after the Federal Aviation Administration said the planemaker temporarily halted deliveries of its 787 Dreamliner jets.Warner Bros Discovery Inc fell 4.9% after reporting a greater than expected quarterly loss due to one-off charges related to Warner Bros-Discovery merger. (Reporting by Johann M Cherian in Bengaluru; Editing by Arun Koyyur) \ No newline at end of file diff --git a/news/AMZN/2023.02.24/SciSparc Ltd. - Jeffs Brands Entered into a Definitive Agreement to acquire a 49% inter...txt b/news/AMZN/2023.02.24/SciSparc Ltd. - Jeffs Brands Entered into a Definitive Agreement to acquire a 49% inter...txt new file mode 100644 index 0000000000000000000000000000000000000000..2912da9e58b8a04efb7d6b1133627fcf67ff3f39 --- /dev/null +++ b/news/AMZN/2023.02.24/SciSparc Ltd. - Jeffs Brands Entered into a Definitive Agreement to acquire a 49% inter...txt @@ -0,0 +1 @@ +Tel Aviv - Jeffs Brands Ltd (the 'Company' or 'Jeffs' Brands') (Nasdaq: JFBR), a data-driven e-commerce company operating on the Amazon Marketplace, today announced that it has entered into a definitive agreement (the 'Agreement') with SciSparc Ltd. ('SciSparc') (Nasdaq: SPRC), to purchase from it approximately 49% of the outstanding capital stock of SciSparc Nutraceuticals Inc., a wholly-owned subsidiary of SciSparc that owns Wellution TM, a top-selling Amazon.com Marketplace food supplements and cosmetics brand, for $2.5 million in cash.The stock interest of Jeffs' Brands in the Subsidiary is expected to be held by a wholly-owned Delaware subsidiary of Jeffs' Brands. In addition, the Agreement also includes a mutual share exchange between SciSparc and the Company of restricted shares (the 'Share'), in the total amount of $300,000. The number of shares in the share exchange will be calculated based on the average closing price of the relevant company's shares for 30 consecutive trading days ending on the third trading day immediately prior to closing the transaction. The closing of the transaction is subject to certain customary conditions and is expected to be completed within seven business days. At closing, the Company and the Subsidiary will enter into a consulting agreement by which the Company will provide management services for the Brand for a monthly fee of $20,000. The agreement is for an undefined period of time, and may be terminated by either party with 30-days' advance notice.The Brand is profitable with millions of dollars in gross annual sales on the Amazon market place.The Brand sells dozens of hemp-based, top-ranked products, including hemp gummies, hemp oil capsules, hemp gel, hemp cream, detox pills, height pills, antibacterial creams, and anti-aging creams, among other beauty and hair treatment products that are all manufactured in the United States.The Brand offers eight variations of natural hemp candy supplements under two parent Amazon Standard Identification Number (each, an 'ASIN') on Amazon that are differentiated by their hemp oil potency. The leading parent ASIN, that was launched in 2019, has received over 26,500 reviews and has consistently ranked as the #1 best seller in the category. In total, the Brand had approximately 40,000 product reviews to date, most of which are 4 and 5-star reviews.Mr. Oz Adler, the Chairman and a director of the Company is the Chief Executive Officer and Chief Financial Officer of SciSparc, Mr. Amitai Weiss, the Chairman of SciSparc, is a director of Jeff's Brands, and Mr. Moshe Revach is a member of the board of directors of the Company and SciSparc.The Shares have not been registered under the Securities Act of 1933, as amended (the 'Securities Act'), or any states' securities laws and may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act.About Jeffs' Brands LtdJeffs' Brands is transforming the world of e-commerce by creating and acquiring products and turning them into market leaders, tapping into vast, unrealized growth potential. Through our stellar team's insight into the FBA Amazon business model, we're using both human capability and advanced technology to take products to the next level.About SciSparc Ltd.SciSparc Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. SciSparc's focus is on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company is currently engaged in the following drug development programs based on THC and/or non-psychoactive cannabidiol (CBD): SCI-110 for the treatment of Tourette Syndrome, for the treatment of Alzheimer's disease and agitation; SCI-160 for the treatment of pain and SCI-210 for the treatment of autism spectrum disorder and status epilepticus.Forward-Looking Statement DisclaimerThis press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the 'safe harbor' created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as 'believe,' 'expect,' 'may,' 'should,' 'could,' 'seek,' 'intend,' 'plan,' 'goal,' 'estimate,' 'anticipate' or other comparable terms. For example, we are using forward-looking statements when we are discussing the Company's expectations regarding the closing of the transaction and the satisfaction of customary closing conditions related to the transaction. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to adapt to significant future alterations in Amazon's policies; our ability to sell our existing products and grow our brands and product offerings, including by acquiring new brands; our ability to meet our expectations regarding the revenue growth and the demand for e-commerce; the overall global economic environment; the impact of competition and new e-commerce technologies; general market, political and economic conditions in the countries in which we operate; projected capital expenditures and liquidity; the impact of possible changes in Amazon's policies and terms of use and the other risks and uncertainties described in the Registration Statement on Form F-1, as amended, filed with the SEC related to our initial public offering and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.Contact:Michal EfratyTel: +972-(0)52-3044404Email: michal@efraty.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AMZN/2023.02.24/Wall St closes sharply down, biggest weekly drop of 2023.txt b/news/AMZN/2023.02.24/Wall St closes sharply down, biggest weekly drop of 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..3d88d3c153083b4eae4b284ff1113d617221b66c --- /dev/null +++ b/news/AMZN/2023.02.24/Wall St closes sharply down, biggest weekly drop of 2023.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*PCE index up 0.6% m-o-m in Jan after 0.2% rise in Dec*Boeing slides on 787 Dreamliner jets temporary halt*Adobe falls as DoJ to block Figma deal - reportFeb 24 (Reuters) - Wall Street closed well down on +Friday, dragging all three main stock indexes to their biggest +weekly drop of 2023, as investors braced for the possibility of +more aggressive rate hikes from the U.S. Federal Reserve as U.S. +economic data pointed to resilient consumers.All three indexes posted weekly declines of around 3%, with +the blue-chip Dow Jones Industrial Average on track for +its biggest weekly decline in five months.After a strong January, stocks have retreated this month as +a slew of economic data amplified worries that the U.S. central +bank might have to keep rates higher for longer.Data on Friday showed the personal consumption expenditures +(PCE) price index, the Fed's preferred inflation gauge, shot up +0.6% last month after gaining just 0.2% in December. Consumer +spending, which accounts for more than two-thirds of U.S. +economic activity, jumped 1.8% last month, exceeding forecasts +for a 1.3% rise."The headline and core PCE numbers were well above +expectations. What worries us most is that the data since the +last Fed meeting has been extremely strong," said Gene Goldman, +chief investment officer at Cetera Investment Management."If the Fed had this data at the last meeting they probably +would've raised by 50 bps and the tone from the press conference +would've been a lot different."Traders of futures tied to the Fed's policy rate added to +bets of at least three more rate hikes this year, with the peak +rate seen in the range of 5.25%-5.5% by June.Cleveland Fed President Loretta Mester said the Fed should +raise interest rates higher than necessary if need be to get +inflation fully under control.According to preliminary data, the S&P 500 lost 41.90 +points, or 1.04%, to end at 3,970.42 points, while the Nasdaq +Composite lost 195.52 points, or 1.67%, to 11,394.88. +The Dow Jones Industrial Average fell 335.47 points, or +1.01%, to 32,818.44.Most of the major S&P sectors fell, with technology +and consumer discretionary among the biggest +decliners. Communication services fell to a sixth +straight loss, its worst run since a similar six-session skid in +August.Megacap stocks including Tesla Inc, Amazon.com Inc +and Nvidia Corp slid as Treasury yields rose.The yield on two-year Treasury notes, which are +highly sensitive to Fed policy, climbed to 4.826% - its highest +in nearly four months.Boeing Co slid after the Federal Aviation +Administration said the planemaker temporarily halted deliveries +of its 787 Dreamliner jets.Adobe Inc sank on reports the U.S. Justice +Department would block the Photoshop maker's $20 billion bid for +cloud-based designer platform Figma.On the positive side, Beyond Meat Inc surged as the +plant-based meat maker's results indicated that its cost-control +measures were finally bearing fruit.Block Inc gained after offering an upbeat forecast +for a key profit metric and noting it was slowing hiring to +control costs this year. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Additional reporting by Sinead +Carew; Editing by Arun Koyyur, Sriraj Kalluvila and David +Gregorio) \ No newline at end of file diff --git a/news/AMZN/2023.02.24/Wall St ends sharply down, posts biggest weekly drop of 2023.txt b/news/AMZN/2023.02.24/Wall St ends sharply down, posts biggest weekly drop of 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..6e7b84ba42e5f5d79a51c206443c7ae7225f2ba2 --- /dev/null +++ b/news/AMZN/2023.02.24/Wall St ends sharply down, posts biggest weekly drop of 2023.txt @@ -0,0 +1,56 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Dow's worst weekly performance in 5 months*PCE data comes in strong, showing resilient consumer*For the week, all down: Dow 2.99%, S&P 2.66%, Nasdaq 3.33%*Indexes down: Dow 1.02%, S&P 1.05%, Nasdaq 1.69%Feb 24 (Reuters) -Wall Street's main indexes posted their biggest weekly drop +of 2023 after sharp losses on Friday, as investors braced for +the possibility of more aggressive rate hikes from the U.S. +Federal Reserve as U.S. economic data pointed to resilient +consumers.For the blue-chip Dow Jones Industrial Average, the +3% fall was its biggest weekly decline since September. It was +also the Dow's fourth straight weekly decline, its longest +losing streak for nearly 10 months.The S&P 500 and Nasdaq Composite were +also down 2.7% and 3.3%, respectively.After a strong January, stocks have retreated this month as +a slew of economic data amplified worries that the U.S. central +bank might have to keep rates higher for longer.Data on Friday showed the personal consumption expenditures +(PCE) price index, the Fed's preferred inflation gauge, shot up +0.6% last month after gaining just 0.2% in December. Consumer +spending, which accounts for more than two-thirds of U.S. +economic activity, jumped 1.8% last month, exceeding forecasts +for a 1.3% rise.Jason Pride, chief investment officer of private wealth +at Glenmede, said previous market cycles had witnessed similar +delayed reactions by the market to rising interest rates and +data releases, which helps explain volatile trading patterns as +investors slowly adjust."This market has not yet realized the likelihood of a +recession that we think is reality," he said, noting past rate +hikes normally had taken between six and 18 months before their +effects had fully filtered through into the economy."We don't think (a recession is) a given, but there's a +higher likelihood than the market has embedded in its thought +process."Traders of futures tied to the Fed's policy rate added to +bets of at least three more rate hikes this year, with the peak +rate seen in the range of 5.25%-5.5% by June.Cleveland Fed President Loretta Mester said the Fed should +raise interest rates higher than necessary if need be to get +inflation fully under control.The Dow Jones Industrial Average fell 336.99 points, +or 1.02%, to 32,816.92, the S&P 500 lost 42.28 points, or +1.05%, to 3,970.04 and the Nasdaq Composite dropped +195.46 points, or 1.69%, to 11,394.94.Nine of the 11 major S&P sectors fell, with real estate +, technology and consumer discretionary +the biggest decliners. Communication services +fell 1.4% to a sixth straight loss, its worst run +since a similar six-session skid in August.Megacap stocks including Tesla Inc, Amazon.com Inc +and Nvidia Corp slid between 1.6% and 2.6% as +Treasury yields rose.The yield on two-year Treasury notes, which are +highly sensitive to Fed policy, climbed to 4.826% - its highest +in nearly four months.Boeing Co slid 4.8% after the Federal Aviation +Administration said the planemaker temporarily halted deliveries +of its 787 Dreamliner jets.Adobe Inc sank 7.6% on reports the U.S. Justice +Department would block the Photoshop maker's $20 billion bid for +cloud-based designer platform Figma.The decline in Adobe's stock was the largest since Sept. 15, +the day the Figma agreement was announced.Meanwhile, Range Resources Corp jumped 11.9% in +late trading, its biggest gain in nine months, after Bloomberg +News reported that Pioneer Natural Resources was in +talks to buy it. Pioneer's stock fell 4.1% on the report.Volume on U.S. exchanges was 10.31 billion shares, +compared with the 11.53 billion average for the full session +over the last 20 trading days.The S&P 500 posted 2 new 52-week highs and 11 new lows; +the Nasdaq Composite recorded 44 new highs and 162 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Additional reporting by Sinead +Carew; Editing by Arun Koyyur, Sriraj Kalluvila and David +Gregorio) \ No newline at end of file diff --git a/news/AMZN/2023.02.24/Wall St heads for big weekly drop as investors sweat rate hikes.txt b/news/AMZN/2023.02.24/Wall St heads for big weekly drop as investors sweat rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..63f7fd6f61cfda2256c0ee668d27d7014a909277 --- /dev/null +++ b/news/AMZN/2023.02.24/Wall St heads for big weekly drop as investors sweat rate hikes.txt @@ -0,0 +1,51 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*PCE index up 0.6% m-o-m in Jan after 0.2% rise in Dec*Boeing slides on 787 Dreamliner jets temporary halt*Adobe falls as DoJ to block Figma deal - report*Indexes down: Dow 1.12%, S&P 1.28%, Nasdaq 1.94%Feb 24 (Reuters) -Wall Street's main indexes tumbled on Friday, on course for +their biggest weekly drop of 2023, as further strong consumer +data had investors bracing for more aggressive rate hikes from +the Federal Reserve to fight sticky inflation.All three indexes were set for weekly declines of around 3%, +with the blue-chip Dow Jones Industrial Average on track +for its biggest weekly decline in five months.After a strong performance in January, stocks have retreated +this month as a slew of economic data amplified worries that the +U.S. central bank might have to keep rates higher for longer.Data on Friday showed the personal consumption expenditures +(PCE) price index, the Fed's preferred inflation gauge, shot up +0.6% last month after gaining just 0.2% in December. Consumer +spending, which accounts for more than two-thirds of U.S. +economic activity, jumped 1.8% last month, exceeding forecasts +for a 1.3% rise."The headline and core PCE numbers were well above +expectations. What worries us most is that the data since the +last Fed meeting has been extremely strong," said Gene Goldman, +chief investment officer at Cetera Investment Management."If the Fed had this data at the last meeting they probably +would've raised by 50 bps and the tone from the press conference +would've been a lot different."Traders of futures tied to the Fed's policy rate added to +bets of at least three more rate hikes this year, with the peak +rate seen in the range of 5.25%-5.5% by June.Cleveland Fed President Loretta Mester said the Fed should +raise interest rates higher than necessary if need be to get +inflation fully under control.The S&P 500 slipped below its 50-day moving average of 3,980 +points and, at one point, was threatening its 200-day moving +average of 3,940 points. The Nasdaq Composite did slip below its +200-day level of 11,406 points, while the Dow dropped underneath +its 100-day moving average of 32,937 points, having spent this +week below its 50-day mark.At 2.02 p.m. ET, the Dow fell 370.57 points, or +1.12%, to 32,783.34, the S&P 500 lost 51.16 points, or +1.28%, to 3,961.16 and the Nasdaq Composite dropped +224.62 points, or 1.94%, to 11,365.78.All 11 major S&P sectors fell, with technology and +consumer discretionary among the biggest decliners. +Communication services fell 1.6%, on course for a +sixth straight loss, its worst run since a similar six-session +skid in August.Megacap stocks including Tesla Inc, Amazon.com Inc +and Nvidia Corp slid in the range of 1.9% and +3.2% as Treasury yields rose.The yield on two-year Treasury notes, which are +highly sensitive to Fed policy, climbed to 4.826% - its highest +in nearly four months.Boeing Co slid 4.7% after the Federal Aviation +Administration said the planemaker temporarily halted deliveries +of its 787 Dreamliner jets.Adobe Inc sank 7.6% on reports the U.S. Justice +Department would block the Photoshop maker's $20 billion bid for +cloud-based designer platform Figma.On the positive side, Beyond Meat Inc surged 9.2% +as the plant-based meat maker's results indicated that its +cost-control measures were finally bearing fruit.Block Inc gained 4.2% after offering an upbeat +forecast for a key profit metric and noting it was slowing +hiring to control costs this year. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Additional reporting by Sinead +Carew; Editing by Arun Koyyur, Sriraj Kalluvila and David +Gregorio) \ No newline at end of file diff --git a/news/AMZN/2023.02.24/Wall St set for sharp weekly declines as rate worries mount.txt b/news/AMZN/2023.02.24/Wall St set for sharp weekly declines as rate worries mount.txt new file mode 100644 index 0000000000000000000000000000000000000000..a5e8d7718c500fa8d150d19eb759be1a429b5fc1 --- /dev/null +++ b/news/AMZN/2023.02.24/Wall St set for sharp weekly declines as rate worries mount.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*PCE index up 0.6% m-o-m in Jan after 0.2% rise in Dec*Boeing slides on 787 Dreamliner jets temporary halt*Adobe falls as DoJ to block Figma deal - report*Indexes down: Dow 0.91%, S&P 1.04%, Nasdaq 1.56%Feb 24 (Reuters) - Wall Street's main indexes tumbled on +Friday, on course for their worst weekly performance of the +year, as data signaling strong consumer spending and inflation +sparked worries that the Federal Reserve will stick to its +hawkish stance for longer.All the three indexes were set for weekly declines of around +3% each, with the blue-chip Dow on track for its biggest +weekly decline in five months.After a strong performance in January, stocks have retreated +this month as a slew of economic data amplified worries that the +U.S. central bank might have to keep rates higher for longer +amid signs of sticky inflation and a resilient labor market.Data on Friday showed the personal consumption expenditures +(PCE) price index, the Fed's preferred gauge of inflation, shot +up 0.6% last month after gaining 0.2% in December.Another set showed consumer spending, which accounts for +more than two-thirds of U.S. economic activity, jumped 1.8% last +month, higher than the economists' forecast of a 1.3% rise."The headline and core PCE numbers were well above +expectations. What worries us most is that the data since the +last Fed meeting has been extremely strong," said Gene Goldman, +chief investment officer at Cetera Investment Management."If the Fed had this data at the last meeting they probably +would've raised by 50 bps and the tone from the press conference +would've been a lot different."Traders of futures tied to the Fed's policy rate added to +bets that the central bank will raise rates at least three more +times this year, with the peak rate seen in the range of +5.25%-5.5% by June.Cleveland Fed President Loretta Mester said the Fed should +err on raising interest rates higher than necessary if need be +in order to get inflation fully under control.At 11:52 a.m. ET, the Dow Jones Industrial Average +was down 302.42 points, or 0.91%, at 32,851.49, the S&P 500 +was down 41.64 points, or 1.04%, at 3,970.68, and the +Nasdaq Composite was down 181.32 points, or 1.56%, at +11,409.09.All the 11 major S&P sectors fell, with technology +and consumer discretionary indexes leading losses.Megacap stocks including Tesla Inc, Amazon.com Inc +and Nvidia Corp slid in the range of 1.3% and +2.3% as Treasury yields rose.The yield on two-year Treasury notes, which are +highly sensitive to Fed policy, climbed to 4.826% - its highest +in nearly four months.Boeing Co slid 4.3% after the Federal Aviation +Administration said the planemaker temporarily halted deliveries +of its 787 Dreamliner jets.Beyond Meat Inc surged 13.5% as the plant-based +meat maker's results indicated that its cost-control measures +were finally bearing fruit.Adobe Inc sank 7.3% on reports the U.S. Justice +Department would block the Photoshop maker's $20 billion bid for +cloud-based designer platform Figma.Declining issues outnumbered advancers for a 4.28-to-1 ratio +on the NYSE and 3.19-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week highs and seven new +lows, while the Nasdaq recorded 26 new highs and 131 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru, +additional reporting by Sinead Carew; Editing by Arun Koyyur and +Sriraj Kalluvila) \ No newline at end of file diff --git a/news/AMZN/2023.02.26/Nokia changes iconic logo to signal strategy shift.txt b/news/AMZN/2023.02.26/Nokia changes iconic logo to signal strategy shift.txt new file mode 100644 index 0000000000000000000000000000000000000000..1612f7d9d599c60ea0eb8b8bad428cbe8d9c1831 --- /dev/null +++ b/news/AMZN/2023.02.26/Nokia changes iconic logo to signal strategy shift.txt @@ -0,0 +1 @@ +The new logo comprises five different shapes forming the word NOKIA. The iconic blue color of the old logo has been dropped for a range of colours depending on the use. "There was the association to smartphones and nowadays we are a business technology company," Chief Executive Pekka Lundmark told Reuters in an interview.He was speaking ahead of a business update by the company on the eve of the annual Mobile World Congress (MWC) which opens in Barcelona on Monday and runs until March 2.After taking over the top job at the struggling Finnish company in 2020, Lundmark set out a strategy with three stages: reset, accelerate and scale. With the reset stage now complete, Lundmark said the second stage is beginning.While Nokia still aims to grow its service provider business, where it sells equipment to telecom companies, its main focus is now to sell gear to other businesses."We had very good 21% growth last year in enterprise, which is currently about 8% of our sales, (or) 2 billion euros ($2.11 billion) roughly," Lundmark said. "We want to take that to double digits as quickly as possible."Major technology firms have been partnering with telecom gear makers such as Nokia to sell private 5G networks and gears for automated factories to customers, mostly in the manufacturing sector.Nokia plans to review the growth path of its different businesses and consider alternatives, including divestment."The signal is very clear. We only want to be in businesses where we can see global leadership," Lundmark said.Nokia's move toward factory automation and datacentres will also see them locking horns with big tech companies, such as Microsoft and Amazon."There will be multiple different types of cases, sometimes they will be our partners ... sometimes they can be our customers... and I am sure that there will also be situations where they will be competitors."The market to sell telecom gear is under pressure with macro environment denting demand from high-margin markets such as North America, being replaced by growth in low-margin India, pushing rival Ericsson to lay off 8,500 employees."India is our fastest growing market that has lower margins - this is a structural change," Lundmark said, adding that Nokia expects North America to be stronger in the second half of the year.($1 = 0.9482 euros) (Reporting by Supantha Mukherjee in Barcelona; Editing by Mike Harrison)By Supantha Mukherjee \ No newline at end of file diff --git "a/news/AMZN/2023.02.27/Amazon Com : How Amazon is helping communities impacted by the earthquake in T\303\274rkiye and S...txt" "b/news/AMZN/2023.02.27/Amazon Com : How Amazon is helping communities impacted by the earthquake in T\303\274rkiye and S...txt" new file mode 100644 index 0000000000000000000000000000000000000000..731639d56c6cd6765669b1070c8fe166cd0a5766 --- /dev/null +++ "b/news/AMZN/2023.02.27/Amazon Com : How Amazon is helping communities impacted by the earthquake in T\303\274rkiye and S...txt" @@ -0,0 +1,183 @@ + + + Amazon activates disaster relief services to help organizations responding to the devastating earthquake in Türkiye and Syria. + + + +February 27 +Amazon Air sends planes to deliver relief supplies to Türkiye and Syria + + + Two Amazon Air cargo planes loaded with relief supplies flew to Istanbul from the U.S. and Germany over the weekend to deliver aid to earthquake response in Türkiye and Syria. + + + Amazon Air executed two relief flights with over 100lbs of supplies to Türkiye and Syria + + + The planes delivered tents, sleeping bags, blankets, heaters, and other much-needed supplies. Amazon teams across Europe and the U.S. packed and loaded hundreds of pallets with supplies, totaling more than 100,000 pounds of items. Relying on teams and facilities in both regions allows Amazon to more efficiently move goods thanks to a wider available inventory. + + + The Amazon-donated products will support the ongoing humanitarian response through partner organizations like the International Organization for Migration (IOM), ensuring that the supplies will be delivered to families who have lost their homes in the affected areas. The work is being done in close coordination with the Government of Türkiye and through implementing partners in northwest Syria. + + + IOM's response in the two countries builds on existing expertise in disaster relief, with more than 1,000 staff in Türkiye, 600 of whom are based in the affected areas in southeast Türkiye, and large-scale, cross-border operations in northwest Syria that run from the Turkish city of Gaziantep. More than 1 million people have been reached with immediate relief assistance, and 422 trucks worth of aid have been dispatched in the two countries, with support from national partners in Türkiye and through implementing partners in northwest Syria. + + + + Relief supplies being loaded in Amazon Air aircraft at KCVG. + + + Relief supplies being unloaded in Türkiye. + + + Relief supplies being unloaded in Türkiye. + + + Relief supplies being unloaded in Türkiye. + + + Relief supplies being unloaded in Türkiye. + + + Relief supplies being unloaded in Türkiye. + + + Relief supplies being unloaded in Türkiye. + + + + The work is a continuation of Amazon's efforts in the region. Just days after the devastating earthquake, Amazon sent tens of thousands of relief items to the impacted areas and established a Disaster Relief Hub near Istanbul within four days. + + + Amazon also made an initial commitment of $600,000 in total cash donations to non-governmental organizations providing critical support. To help customers easily donate to organizations providing help on the ground, the company activated donation campaigns on 16 Amazon stores around the world. + + + According to officials, more than 48,000 people lost their lives in the earthquake and survivors are struggling with cold weather. + + +Amazon Web Services provides technical support following the earthquake in Türkiye and Syria + + + Tech professionals also came together using a chat room to help launch another mapping effort supported by AWS, Afetharita.com, which translates to "disaster map." The app uses artificial intelligence to create a map showing requests for help posted through social media. + + + Amazon Web Services (AWS) is providing cloud credits and technical support to local organizations that are helping with relief efforts following the devastating earthquake in Türkiye and Syria. + + + AWS rallied to help the AKUT Search and Rescue Association scale their app Güvendeyim (which translates to "I am Safe" in English) within days of the earthquake to help local residents notify loved ones that they were safe. The app now has over 1 million downloads. + + + Turkish tech firm Başarsoft also received cloud computing credits through AWS Promotional Credit to create the Earthquake Assistance Needs Mapping Portal. The portal uses location-based social media posts to help direct search efforts to critical areas, such as collapsed buildings and rubble. The app also helps locate people in need of assistance and allows anyone to submit aid requests. + + +February 10 +Amazon establishes Türkiye Disaster Relief Hub to expedite relief + + + Amazon has created the Türkiye Disaster Relief Hub near Istanbul to quickly provide relief items to areas impacted by the recent earthquake in Türkiye and Syria. + + + Working with one of Amazon's local logistics partners, the company has so far converted 2,000 square meters (nearly 21,530 square feet) of warehouse space into a facility that will help move critical supplies to front-line organizations. This facility-set up just four days after the devasting earthquake-will help Amazon expedite the delivery of essential relief items. The company and Amazon customers have donated nearly 100,000 relief items so far, and donations continue to come in. + + + Teams working at the Türkiye Disaster Relief Hub will handle those donations and other critical supplies, including heaters, blankets, shelter materials, and clothing, in close coordination with local authorities and nonprofits on the ground. The facility was established near Istanbul to improve the arrangement and shipment of relief supplies and quickly help people in impacted areas. + + + The first four truckloads of Amazon's donated relief items departed Amazon's fulfilment center in Istanbul earlier this week to Hatay and Malatya provinces. The first truckload carrying customer donations departed Thursday to Kahramanmaraş Province. + + +February 9 +Amazon helps customers in more countries donate to help earthquake victims + + + Amazon is helping customers contribute directly to organizations supporting earthquake relief in Türkiye and Syria. Customers in the United States, Germany, France, Italy, Spain, the Netherlands, the United Arab Emirates, and a growing number of countries can now visit their local sites and donate to organizations like the Red Cross and Red Crescent. Amazon customers in Türkiye can visit the Amazon Türkiye country pageto stay up to date on ways to donate and contribute. + + + Amazon is also providing technology support to organizations responding to the tragedy. The Amazon Web Services Disaster Preparedness and Response team is providing trained technical volunteers and technical solutions to Help.NGO, a United Nations standby partner assisting in the region. So far, Amazon has also provided cash grants to nonprofits on the ground and is using its logistic infrastructure to send relief items to impacted areas. + + + Officials say the death toll has climbed above 20,000, and cold weather now covers Türkiye and Syria. Amazon has already shipped donated blankets, tents, heaters, food, diapers, baby food, medicine, and other emergency items, and Amazon's Disaster Relief team continues to field requests for winter survival equipment, clothing, hygiene products, and other items. + + +February 8 +Amazon provides cash donations to non-governmentalorganizations helping with relief efforts in Türkiye and Syria + + + Amazon has announced an initial commitment of $600,000 in total cash donations to non-governmental organizations providing critical support in areas affected by the earthquake in Türkiye and Syria. + + + The organizations include Red Crescent of Türkiye, AKUT (Search and Rescue Association), the AHBAP foundation, Emirates Red Crescent, World Food Program, Save the Children, and UNICEF. Amazon's commitment is in addition to the product donations and logistics support that the company is already providing in the region. The first two truckloads of Amazon's donated relief items departed the company's fulfillment center in Istanbul on Tuesday, February 7, for Hatay Province. Additional trucks are scheduled to depart in the next few days to Hatay and Malatya provinces. Amazon stands with communities in the regions affected by the devastating earthquake. Amazon teams in Türkiye are closely working with local authorities and nonprofits on the ground to provide relief. + + +February 7 +First shipment of Amazon relief items leaves Istanbul for areas affected by earthquake + + + A day after the devastating earthquake in Türkiye, the first truckload of Amazon's donated relief items departed the company's fulfillment center in Istanbul. + + + The supplies are heading to Hatay Province and include heaters, blankets, and other goods to aide first responders and help victims stay warm amid frigid weather. Rescue operations are ongoing following the Monday morning earthquake, which officials say killed over 7,700 people. + + + Amazon customers can help by donating through a new donations page on Amazon's Türkiye store. Within three hours of the page going live on Tuesday, customers had donated more than 5,000 items to help earthquake victims. + + + As of Tuesday morning, all of Amazon's nearly 2,000 workers in Türkiye were safe and accounted for. We continue to be in contact with organizations on the ground and the Turkish government to learn more about what's needed in areas impacted by the earthquake, and we will work with partners to deliver relief items and logistical support. + + +February 6 + Just after 4 a.m. local time on Monday, February 6, a 7.8-magnitude earthquake struck Türkiye and the surrounding region, causing widespread devastation. Local authorities have confirmed at least 2,600 deaths and expect the figure to increase as search and rescue efforts continue. + + + To assist impacted communities, Amazon has activated its disaster relief capabilities and is responding to help meet the immediate needs of the Red Crescent and other relief organizations. We are preparing to ship donated relief items from our fulfillment center in Istanbul to affected areas. Our donations will include items such as blankets, tents, heaters, food, diapers, baby food, medicine, and other emergency items as victims face not only the damage from the earthquake but frigid winter weather. + + + We expect the first truckloads to depart on Wednesday. + + + +Meet the employee behind Amazon's disaster relief efforts + + + The Disaster Relief by Amazon team helps us leverage our expertise in logistics to coordinate relief efforts around the world. + + +Read more + + + + "This immediate delivery is just the beginning of Amazon's response," said Abe Diaz, head of Amazon's Disaster Relief program. "Over the coming days, we'll work with local organizations and disaster-relief groups to identify on-the-ground needs and use Amazon's logistics and delivery network to meet them." + + + Amazon has nearly 2,000 workers in Türkiye and no facilities in the impacted areas. Our local leaders spent the day Monday ensuring that staff and their families were safe and accounted for. We are committed to continue leveraging our infrastructure, inventory, and teams to provide the relief that's needed. + + + Read more about Disaster Relief by Amazon. + + + + + Related Tags + + +CommunityDisaster Relief by AmazonDonations + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amazon.com Inc. published this content on 27 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 February 2023 19:32:00 UTC. + + diff --git a/news/AMZN/2023.02.27/Amazon Com : will spend $200 million on safety technology across its transportation networ...txt b/news/AMZN/2023.02.27/Amazon Com : will spend $200 million on safety technology across its transportation networ...txt new file mode 100644 index 0000000000000000000000000000000000000000..37ae135340c9c5c87cccdf8818e29da5b2794754 --- /dev/null +++ b/news/AMZN/2023.02.27/Amazon Com : will spend $200 million on safety technology across its transportation networ...txt @@ -0,0 +1,70 @@ + + + Industry-leading investments in new technologies will provide drivers with vehicles that are best-in-class in safety and sustainability. + + + + Safety is integral to everything we do across our operations at Amazon-every day, in every country, and especially on the road. As we work to deliver for our customers, we continue to innovate and advance safety features in the trucks and vans we deploy, keeping the safety of our partners and communities where we deliver as our top priority. + + + A challenge as complex as roadway safety requires strong leadership across both the public and private sectors. Amazon has helped lead the way in investments and innovations, and I'm proud to share some highlights of how Amazon is already working toward the goals outlined in the U.S. Department of Transportation's National Roadway Safety Strategy (NRSS). The examples below are each part of a $200 million investment in new safety technology, and part of our continuing work to ensure Amazon vehicles and our delivery partners are safe on the road. It's our belief that the technology we create, along with innovations spearheaded by our industry partners, can raise the bar on safety and reduce crash frequency and severity. And in many cases, these innovations are better for the environment, too. + + + As we follow through on our ongoing commitment to safety, here are some of the tech-based safety and sustainability solutions we're continuing to invest in this year: + + + + We've equipped our middle mile trucking network, which is responsible for shipping packages to and from our operations sites before they're dispatched for last mile delivery to customers, with leading safety technology, including automatic emergency braking, front-collision warning, stability control, lane-departure warning, side-object detection, adaptive cruise control, and speed limiters. Since 2017, Amazon tractors have also been equipped with driver-facing cameras that can help identify unsafe behaviors, like distracted driving, so drivers can be coached to prevent those behaviors from happening again. Our trailers are outfitted with sensors to monitor lights, anti-lock braking systems, cargo and door sensors, and more. Based on our full technology package, equipment manufacturers have indicated that Amazon is a pioneer in incorporating the most advanced safety features. And outside of our fleet, we've invested heavily in our route planning navigation systems and predictive analytics software to better monitor fleet safety. All of this is embedded into our mobile technology, called Relay, that connects carriers and drivers to Amazon, and provides them with navigation assistance, real-time driver-facing alerts, safety performance summaries, and additional safety learning. + + + + +An inside look at the innovations that power Amazon's operations and delivery networks + + + From new robotic systems and Prime Air drones to vehicle safety technology for drivers, learn how Amazon is improving operations for employees and customers. + + +Read more + + + + + We're also investing to expand in-vehicle camera safety technology across our last mile delivery network, which is proven to help reduce unsafe behavior in real time by reducing driver-controllable safety incidents. This technology identifies safety events and provides real-time alerts. We began outfitting Amazon-branded delivery vans in the U.S. with this technology in 2020 and, since rolling it out, we've seen a 35 percent reduction in accident rates across our network. This technology is a game-changer and will be in nearly 100 percent of Amazon branded vehicles by April 2023. This technology is just one of the safety features in our custom electric delivery vehicles (EDVs) from Rivian, which are now delivering Amazon packages in more than 100 cities nationwide. In addition, these vans include a 360-degree camera detection system so drivers can see exactly what's next to them as they back up and turn, emergency braking, rollaway detection, and more. Beyond these in-vehicle systems, our Fleet Edgetechnology leverages data to improve our routing software to solve for common roadway issues such as construction, accurate lane navigation, and unsafe maneuvers. This technology has increased GPS accuracy by over 2.5 times since we began testing it, which helps our drivers be both safer and more efficient-benefitting them, our communities, and our planet. + + + + + As we look to the future, we continue to pilot cutting edge technologies in the transportation space. For example, we're currently piloting strobing brake light technology in some of our trailers to provide greater visibility during braking to others on the road. This technology has the potential to reduce rear-end collisions by as much as 30 percent. And later this year we'll begin deploying an innovative new safety feature in our trucking fleet that uses digital side mirror camera technology to reduce blind spots and enhance the overall safety of our already industry-leading trucks. As we pilot new technologies and learn about the safety efficacy, we'll be able to make data-driven decisions about whether and how to deploy these and other technologies broadly across our fleet of vehicles and trailers. + + + + We're excited about the progress we've made to date and what our continued investments in 2023 will mean as we work to continuously improve in both safety and sustainability. We will continue to invest and invent to ensure our trucks, delivery vans, trailers, and drivers are among the safest on the road. + + + + + Related Tags + + +TransportationSafetyTechnology + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Amazon.com Inc. published this content on 27 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 February 2023 14:16:04 UTC. + + diff --git a/news/AMZN/2023.02.27/Aviation industry turns to childcare, free iPhones to lure workers.txt b/news/AMZN/2023.02.27/Aviation industry turns to childcare, free iPhones to lure workers.txt new file mode 100644 index 0000000000000000000000000000000000000000..292b1189855b6c103abdf9149fd938e68060be2f --- /dev/null +++ b/news/AMZN/2023.02.27/Aviation industry turns to childcare, free iPhones to lure workers.txt @@ -0,0 +1,94 @@ +Feb 27 (Reuters) - The North American aviation industry +is wooing workers with daycare centers, cheaper transport and +free iPhones to compete in a tight market where salaries for +entry-level, low-skilled jobs often lag those at e-commerce +companies like Amazon.Shortages of workers like baggage handlers and customer +service agents led to long lines and delayed luggage during the +peak summer travel season last year, marring the industry's +recovery from the COVID-19 pandemic and spurring demand for new +initiatives to attract workers."If you want people to work crazy shifts, in the middle of +the night, in the middle of the day, you need to be able to +accommodate their family life too," Thomas Romig, vice president +at airport trade group Airports Council International, or ACI +World, said of services like daycare."Airports are taking more actions to try and recruit, retain +and train (or) upskill workers."ACI, which has member airports around the world, is now +preparing guidance for them on making jobs at 24-hour centers +outside city cores more friendly to workers.Part of the issue for the aviation industry is that low +wages and taxing work have long made retaining staff at airports +a challenge, a problem exacerbated by the pandemic and now, +historically low unemployment rates. In the United States, the +unemployment rate is at its lowest level in more than 53 years.U.S. air transportation employment has recovered over the +past year to above pre-pandemic levels. But the sector still +needs to add jobs as U.S. air travel also rebounds - forecasts +show it is set to rise again this year from pre-pandemic levels +hit in 2022.'DAYCARE IS COMING'Job sweeteners are necessary because average pay for U.S. +airport workers at just under $18 an hour drastically lags that +of e-commerce employers like Amazon, which pay almost +$33 an hour on average, according to ZipRecruiter.Childcare programs have been one response. Apart from +airports in California, they are not usually offered at North +American airports. But that is changing.The city of Phoenix's aviation department, which runs the +Phoenix Sky Harbor International Airport, has launched a +childcare program for airport workers and plans to build a +childcare facility on airport property. The department, which +has about 900 full-time positions, currently has 133 of 171 job +openings still unfilled.Since its launch, 37 airport workers have joined the +program, which covers daycare costs partially. The city of +Phoenix is also spending $1 million to develop a separate +childcare facility next to the airport.The effort is aimed at getting people back to work after the +pandemic and helping the airport run smoothly, said Matthew +Heil, the city department's special projects administrator.At Kelowna International Airport in British Columbia, +Canada, construction is underway for a daycare primarily for +children of employees who work on airport property.The project already helped retain one customer service +agent, a single father who had considered leaving, said Phillip +Elchitz, senior manager of airport operations."Now he knows the daycare is coming and he's not looking for +(other) work anymore," Elchitz said. "That is exactly why we are +doing this."Cincinnati/Northern Kentucky International Airport is +similarly weighing offering childcare on-site or nearby in a bid +to offer attractive benefits to workers, said airport +spokesperson Mindy Kershner.Some California airports, which already offer daycare, are +adding other services to make life easier for employees.San Francisco in July will increase monthly subsidies +offered to employees using public transit by more than 50% to +$200, while a free shuttle is being piloted for workers who live +further away, an airport spokesperson said.Kelowna's airport is also considering shuttle service for +hard-to-fill night or pre-dawn shifts when public transit is not +available.FREE CARS AND IPHONESAirlines are facing similar struggles on the hiring front.Delta Air Lines is offering a $5,000 sign-on bonus +for a ramp agent position - among the more taxing jobs in +aviation - in Minneapolis. Other carriers such as United +Airlines and Alaska Airlines are also trying to +attract workers for ramp operations with signing bonuses, +according to job postings.Ground handling company Unifi, which provides labor and +equipment to Delta, United, and Alaska Airlines, has seen costs +to bring on new workers in tight labor markets rise as much as +60% from pre-pandemic levels, Unifi Chief Strategy Officer Ying +McPherson said.With Unifi's staff turnover rate above pre-pandemic levels, +it has turned to incentive programs to retain talent, McPherson +said.For example, it last year gave away brand new cars to three +employees and smartphones, including iPhones, to over 3,000 +workers who met performance targets, a company spokesperson +said. It is now offering emergency funds and sponsoring a +program that allows employees to pay for purchases such as +appliances and computers over time, the spokesperson added.In some cases, airlines and aviation services companies are +flying in workers and hosting them at local hotels for temporary +assignments to avoid the costs of hiring additional staff in +tighter labor markets, McPherson said.Facility services and management specialist Grupo Eulen, +which works with carriers like American Airlines, +estimates wages for ground handlers will rise around 6% to 8% +this year, although fewer hiring bonuses are being offered.Unions argue the industry needs to do more to attract and +retain workers, especially given practices like +contract-flipping - work being transferred from one company to +another - are common.Yavar Qadri, a representative for Unifor, Canada's largest +private sector union, says his salary was cut by 5% and he then +lost dental benefits during two separate flips over the last 15 +years while working as a security guard overnight for a +contractor at Canada's largest airport in Toronto.A security guard like Qadri would normally start on wages of +C$15.55 an hour and hit just C$16.14 hourly after six years, +according to Unifor, underscoring the dim pay rise prospects."People are working multiple jobs. Or they are trying to get +a lot of overtime hours," added Qadri. "The whole scenario +creates a very toxic atmosphere. Everybody is tired."And then there are others - like Jared Barker, a 33-year-old +baggage handler at Minneapolis–Saint Paul International Airport +who quit and left the industry altogether last year after mass +departures during the pandemic led to a heavier workload."It just burned me out," said Barker, who now works in +insurance sales. +(Reporting by Allison Lampert in Montreal and Rajesh Kumar +Singh in Chicago, additional reporting by Doyinsola Oladipo in +New York, editing by Ben Klayman and Deepa Babington) \ No newline at end of file diff --git a/news/AMZN/2023.02.27/Broadcom faces EU antitrust warning on $61 bln VMware deal - sources.txt b/news/AMZN/2023.02.27/Broadcom faces EU antitrust warning on $61 bln VMware deal - sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..53109da190be52570324f014aedb63ab6494f1b1 --- /dev/null +++ b/news/AMZN/2023.02.27/Broadcom faces EU antitrust warning on $61 bln VMware deal - sources.txt @@ -0,0 +1,36 @@ +BRUSSELS, Feb 27 (Reuters) - U.S. chipmaker Broadcom +is set to receive a European Union antitrust warning +about the possible anti-competitive effects of its proposed $61 +billion bid for cloud computing company VMware in the +coming weeks, people familiar with the matter said.The European Commission opened an investigation in December, +saying the deal, announced last year, would allow Broadcom to +restrict competition in the market for certain hardware +components which interoperate with VMware's software.The EU competition enforcer, which will decide on the deal +by June 7, declined to comment.Tech M&A deals have attracted more intense scrutiny on both +sides of the Atlantic recently as regulators worry about giant +companies acquiring smaller, more innovative rivals.The Commission will set out its concerns in a statement of +objections, the people said. Companies can subsequently ask for +a closed hearing to defend their deals in front of senior +Commission and national competition officials as well as rivals +and the Commission's lawyers.Broadcom is expected to offer remedies only after receiving +the EU charge sheet and not before that, with no asset sale +foreseen, one of the sources said.Broadcom said it would continue its "constructive work" with +the Commission. The deal has received the green light in Brazil, +South Africa and Canada, while the UK competition watchdog is +investigating the acquisition."We continue to expect the transaction will close in +Broadcom's fiscal year 2023," the company said.The two companies received a "second request" for +information about their deal from the U.S. Federal Trade +Commission in July, indicating that the planned transaction +would be closely scrutinized, according to a government filing.U.S. antitrust enforcers have sought to stop an +unusually large number of deals during the Biden administration +because of concerns over concentration in the U.S. economy.Broadcom has told the EU enforcer that the presence of +Amazon, Microsoft and Google shows +that there is strong competition in the cloud computing market, +other people familiar with the matter told Reuters in October.Beltug, a Belgian association of CIOs & Digital Technology +leaders, and its counterparts France's Cigref, CIO platform +Nederland and VOICE Germany have said that the deal could lead +to big price increases and tougher commercial practices against +customers. +(Reporting by Foo Yun Chee, Additional reporting by Diane +Bartz; Editing by Louise Heavens, Jane Merriman and Marguerita +Choy) \ No newline at end of file diff --git a/news/AMZN/2023.02.27/Dutch warn against internet toll as EU looks to Big Tech to fund networks.txt b/news/AMZN/2023.02.27/Dutch warn against internet toll as EU looks to Big Tech to fund networks.txt new file mode 100644 index 0000000000000000000000000000000000000000..f04efaef15d9919c52639bbd2292da9b9acd4933 --- /dev/null +++ b/news/AMZN/2023.02.27/Dutch warn against internet toll as EU looks to Big Tech to fund networks.txt @@ -0,0 +1 @@ +The comments by Dutch Economic Affairs Minister Micky Adriaansens marked the first by an EU country after EU industry chief Thierry Breton kicked off a consultation last Thursday on who should foot the bill to roll out costly 5G and broadband.Deutsche Telekom, Orange, Telefonica, Telecom Italia and other operators have long lobbied for a Big Tech contribution and have found an ally in Breton, a former chief executive at Orange.Among the companies that said an internet tax would undermine EU rules to treat all users equally are Alphabet Inc's Google, Apple Inc, Meta Platforms Inc, Netflix Inc, Amazon.com Inc and Microsoft Corp. These companies account for more than half of data internet traffic, according to telecom operators.Adriaansens said the Dutch government had commissioned a study by economic consultancy Oxera which showed the drawbacks of such a tax."It will penalise the consumers," she told Reuters in an interview, saying that consumers who pay subscription fees to telecoms providers and also subscribe to streaming and video services may see the latter fees go up with Big Tech likely to pass on the internet tax."We should analyse the problem first and what the normal market reaction is to these challenges. The first one is the government in place to facilitate or are there other funds available or is it just the markets' responsibility to take care of this infrastructure?" Adriaansens said."I think that there is this concern that our infrastructure is not able to meet our expectations and our ambitions. So I understand that concern but I don't think that this is the way to go then, so fast," she said.According to Oxera's study, Europe's telecoms providers have not been burdened with higher network costs despite the strong growth in internet data traffic. Oxera also found that these companies' operating profits have been boosted by network modernisation which has led to fewer employees and lower capital costs."Our analysis of the proposals for a levy shows that such a policy cannot robustly be shown to increase economic efficiency, and would potentially bring substantial transaction and set-up costs," the report said. (Reporting by Foo Yun Chee in Brussels; Editing by Matthew Lewis)By Foo Yun Chee \ No newline at end of file diff --git a/news/AMZN/2023.02.27/EU industry chief Breton says not favouring Big Telecoms over Big Tech.txt b/news/AMZN/2023.02.27/EU industry chief Breton says not favouring Big Telecoms over Big Tech.txt new file mode 100644 index 0000000000000000000000000000000000000000..b0f749584b92dcc6c254d151791d9c46ee4a9793 --- /dev/null +++ b/news/AMZN/2023.02.27/EU industry chief Breton says not favouring Big Telecoms over Big Tech.txt @@ -0,0 +1 @@ +The consultation launched last week pits Deutsche Telekom AG, Orange SA, Telefonica SA, Telecom Italia SpA against Alphabet Inc's Google, Apple Inc, Meta Platforms Inc, Netflix Inc, Amazon.com Inc and Microsoft Corp.The European Union official said he did not see the issue as "a binary choice between those who provide networks today and those who feed them with the traffic". "For me the real challenge is to make sure that by 2030 our fellow citizens and business on our streets across the EU - including here in Barcelona - have access to fast, reliable and data-intense Gigabit connectivity," Breton said in the text of a speech to be delivered at the Mobile World Congress (MWC) in the Spanish city. "And for that we need the connectivity networks - highways - of the future. That is the vision. It is not about whether one vested interest should prevail over another," he said.The Dutch government on Monday warned against imposing an internet toll on tech companies, the first EU government to criticise Breton's plan after its Thursday launch, saying such a move may breach net neutrality rules and lead to price hikes for Europeans. Still, Breton took a swipe at the big U.S. tech companies with their large-scale data centres, their cloud-based radio access network (RAN) - the radio element of a cellular system - and their closed ecosystems."We see hyperscalers in cloud and platform services leveraging their market dominance to move into the telco space, using their cash reserves to develop Cloud RAN networks and to provide direct services to business," he said."And interoperability or openness are not currently a strong feature of their business model."He called for a serious discussion of possible hurdles to cross-border telecoms consolidation, siding with operators who say tough EU merger rules impede deals, and also talked up the benefits of an integrated radio spectrum market."I see these two issues as currently holding back our collective potential compared to other continents," Breton said. (Reporting by Foo Yun Chee; editing by Jonathan Oatis)By Foo Yun Chee \ No newline at end of file diff --git a/news/AMZN/2023.02.27/Wall Street climbs after worst weekly selloff of 2023.txt b/news/AMZN/2023.02.27/Wall Street climbs after worst weekly selloff of 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..234ecd0ea310b5a0d76146b8bb594b432e8ccb00 --- /dev/null +++ b/news/AMZN/2023.02.27/Wall Street climbs after worst weekly selloff of 2023.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. Treasury yields slip after rally*Seagen surges on Pfizer-buyout report*Union Pacific jumps as CEO to step down*Indexes up: Dow 0.61%, S&P 0.71%, Nasdaq 0.91%Feb 27 (Reuters) - U.S. stocks climbed on Monday as +investors bought beaten-down shares after the main benchmarks +suffered their worst weekly selloff this year on worries about +tighter monetary policies.The blue-chip Dow erased its gains for the year in +Friday's selloff and the S&P 500 logged its third +straight week of losses on fears of that a strong U.S. economy +and high inflation will give the Fed more room to raise rates.The mood, however, was buoyant on Monday as U.S. Treasury +yields slipped after a strong rally, lifting rate-sensitive +growth stocks such Apple Inc and Amazon.com Inc +more than 1%.Tesla rallied 4% after the electric automaker said +its plant in Brandenburg near Berlin was producing 4,000 cars a +week, three weeks ahead of schedule according to a recent +production plan reviewed by Reuters."We are looking at a relief rally today because the market +was down so much last week," said Sam Stovall, chief investment +strategist at CFRA Research in New York."February historically is the second worst month of the year +for the stock market. So investors are concluding from a +seasonal perspective that maybe stocks could rally at least in +the near term."The yield on two-year notes, the most sensitive +to short-term rate expectations, slipped after touching a near +four-month high earlier in the session.Traders added to their bets of a 50-basis-point (bps) hike +in March after data last week showed the Personal Consumption +Expenditures price index, the metric by which the Fed measures +its 2% inflation target, rose 5.4% last month.Fed fund futures show traders have priced in a third 25 bps +hikes this year and see rates peaking at 5.39% by September.At 9:47 a.m. ET, the Dow Jones Industrial Average was +up 200.27 points, or 0.61%, at 33,017.19, the S&P 500 was +up 28.03 points, or 0.71%, at 3,998.07, and the Nasdaq Composite +was up 104.12 points, or 0.91%, at 11,499.06.Data on Monday showed new orders for key U.S.-made capital +goods increased more than expected in January but orders for +durable goods that are meant to last three years or more fell +more than forecast.After last week's hawkish comments from the Fed +policymakers, investors will turn to Fed Governor Philip +Jefferson's speech later in the day.Warren Buffett's Berkshire Hathaway Inc inched +higher after it reported its highest-ever annual operating +profit, even as foreign currency losses and rising rates led to +lower earnings in the fourth quarter.Seagen Inc surged 12.2% after the Wall Street +Journal reported that Pfizer was in early talks to +acquire the biotech firm. Pfizer's shares slipped 1.1%.U.S. railroad operator Union Pacific jumped 9.6% as +Chief Executive Lance Fritz said he would step down, a move that +follows calls from hedge fund Soroban Capital Partners for his +ouster.Fisker Inc soared 23.7% after the EV maker reported +increased orders for its sports utility vehicle Ocean and +maintained its production forecast for the year.Advancing issues outnumbered decliners by a 4.29-to-1 ratio +on the NYSE and 2.66-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week highs and three new +lows, while the Nasdaq recorded 37 new highs and 28 new lows. +(Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru; +Editing by Saumyadeb Chakrabarty and Arun Koyyur) \ No newline at end of file diff --git a/news/AMZN/2023.02.27/Wall Street set for opening gains after sharp weekly losses.txt b/news/AMZN/2023.02.27/Wall Street set for opening gains after sharp weekly losses.txt new file mode 100644 index 0000000000000000000000000000000000000000..e5f3f7026708be523cc03f06a2641fc74ece2ebe --- /dev/null +++ b/news/AMZN/2023.02.27/Wall Street set for opening gains after sharp weekly losses.txt @@ -0,0 +1,40 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Futures point to opening gains for markets*Seagen surges on Pfizer-buyout report*Union Pacific jumps as CEO to step down*Futures up: Dow 0.72%, S&P 0.86%, Nasdaq 1.12%Feb 27 (Reuters) - U.S. stocks were set for a relief +rally on Monday as investors found value in beaten-down shares +after the main benchmarks suffered their worst weekly selloff +this year on worries about restrictive monetary policies.The blue-chip Dow erased its gains for the year in +Friday's selloff and the S&P 500 logged its third +straight week of losses on fears of that a strong U.S. economy +and high inflation will give the Fed more room to raise rates.Futures pointed to a recovery in sentiment on Monday as U.S. +Treasury yields slipped after a strong rally. Rate-sensitive +growth stocks such as Apple Inc and Amazon.com Inc +climbed in premarket trading.Tesla added 2.8% after the electric automaker said +its plant in Brandenburg near Berlin was producing 4,000 cars a +week, three weeks ahead of schedule according to a recent +production plan reviewed by Reuters."We are looking at a relief rally today because the market +was down so much last week," said Sam Stovall, chief investment +strategist at CFRA Research in New York."February historically is the second worst month of the year +for the stock market. So investors are concluding from a +seasonal perspective that maybe stocks could rally at least in +the near term."The yield on two-year notes, the most +sensitive to short-term rate expectations, slipped after +touching a near four-month high earlier in the session.Traders added to their bets of a 50-basis-point (bps) +hike in March after data last week showed the Personal +Consumption Expenditures price index, the metric by which the +Fed measures its 2% inflation target, rose 5.4% last month.Fed fund futures show traders have priced in a third 25 bps +hikes this year and see rates peaking at 5.38% by September.At 8:52 a.m. ET, Dow e-minis were up 235 points, or +0.72%, S&P 500 e-minis were up 34 points, or 0.86%, and +Nasdaq 100 e-minis were up 134.5 points, or 1.12%.Data on Monday showed new orders for key +U.S.-manufactured capital goods increased more than expected in +January but orders for durable goods fell more than expected.After last week's hawkish comments from the Fed +policymakers, investors will turn to Fed Governor Philip +Jefferson's speech later in the day.Seagen Inc surged 13.2% after the Wall Street +Journal reported that Pfizer was in early talks to +acquire the biotech firm. Pfizer's shares slipped 1.1%.U.S. railroad operator Union Pacific jumped 9.7% as +Chief Executive Lance Fritz said he would step down, a move that +follows calls from hedge fund Soroban Capital Partners for his +ouster.Fisker Inc climbed 9.2% after the EV maker reported +increased orders for its sports utility vehicle Ocean and +maintained its production forecast for the year. +(Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru; +Editing by Saumyadeb Chakrabarty and Arun Koyyur) \ No newline at end of file diff --git a/news/AMZN/2023.02.28/Amazon workers to walk out today in Coventry as pay row rumbles on.txt b/news/AMZN/2023.02.28/Amazon workers to walk out today in Coventry as pay row rumbles on.txt new file mode 100644 index 0000000000000000000000000000000000000000..93ec99eb9ee9d4450d58ea9c0439c32de2c9b0f1 --- /dev/null +++ b/news/AMZN/2023.02.28/Amazon workers to walk out today in Coventry as pay row rumbles on.txt @@ -0,0 +1 @@ +AMAZON workers have said that they are ready for a "David and Goliath battle" as they begin their second round of strikes this year over poor pay and working conditions.More than 350 workers at Amazon's Coventry warehouse will walk out today in a row over pay.Employees at the warehouse have said they want a wage of £15 an hour, after a recent rise saw their pay increase to £10.50 an hour.The workers initially began strike action in January, making history as the first UK branch of Amazon employees to revolt over conditions.Amazon workers will also walk out on Thursday 2 March and for five consecutive days from 13-17 March.Stuart Richards, senior organiser at GMB union, described the action as "a David and Goliath battle" and said its members were "determined to make sure it ends with a pay rise they deserve".Amazon is also facing allegations of poor working conditions, with workers previously alleging to the BBC that staff toilet breaks are timed."Amazon does not recognise the trade union involved (GMB) so this is a very difficult position to manage for them," Jo Mackie, head of employment law at Lawrence Stephens, told City A.M.When approached for comment on the strikes, an Amazon spokesperson said only a "tiny proportion" of its workforce was involved and defended its pay offer as "competitive".(c) 2023 City A.M., source Newspaper \ No newline at end of file diff --git a/news/AMZN/2023.02.28/Casino posts slower sales growth as France ops weigh.txt b/news/AMZN/2023.02.28/Casino posts slower sales growth as France ops weigh.txt new file mode 100644 index 0000000000000000000000000000000000000000..0040c5d12abbbd15cc55666db04e028afcbc54fd --- /dev/null +++ b/news/AMZN/2023.02.28/Casino posts slower sales growth as France ops weigh.txt @@ -0,0 +1,27 @@ +PARIS, Feb 28 (Reuters) - French retailer Casino +said group sales slowed in the fourth quarter of 2022, +as a robust performance in Latin America was offset by weakness +in France, where sales at its Geant hypermarkets and at its +supermarkets fell amid competitive pressure.Casino said it planned to spend more on promotions to +help cash-strapped shoppers in the first quarter of 2023.The performance of its core French business will be +closely watched as Casino and Teract earlier this +month announced they were in preliminary discussions to combine +their retail activities in France within a single entity +controlled by Casino.The company, which has been facing concerns over high +debt and low cash flow, on March 10 is scheduled to report its +earnings for the full year, one in which it had said it aimed +for a good level of profit and improved cash flow generation.Casino, which also controls Brazil's Grupo Pao de Acucar +, said group sales for the fourth quarter reached +9.155 billion euros ($9.7 billion), up 4.4% on a same store +basis but slower than the 5.4% growth it posted in the third +quarter.In France, sales rose just 0.1% on a same store basis after +rising 3.9% in the third quarter.Sales at its French hypermarkets fell 6.2% on a same store +basis and by 4% at its French supermarkets while sales at +convenience stores rose 4.5%.Casino is banking on an expansion of convenience stores +located in city centres and its focus on e-commerce, notably +home delivery through partnerships with Ocado or Amazon +, to boost sales.Casino said it opened 352 new stores in convenience +formats during the quarter and 879 new stores over the year, +exceeding its initial target of 800 openings.($1 = 0.9447 euros) +(Reporting by Dominique Vidalon; +Editing by Sudip Kar-Gupta) \ No newline at end of file diff --git a/news/AMZN/2023.02.28/Casino to step up promotions as cost of living crisis weighs on French sales.txt b/news/AMZN/2023.02.28/Casino to step up promotions as cost of living crisis weighs on French sales.txt new file mode 100644 index 0000000000000000000000000000000000000000..55572d408050047fb219a286bc07d6da56cd5c4d --- /dev/null +++ b/news/AMZN/2023.02.28/Casino to step up promotions as cost of living crisis weighs on French sales.txt @@ -0,0 +1,29 @@ +*Q4 group same-store sales up 4.4% vs up 5.4% in Q3*Q4 French same-store sales up 0.1%, hypermarkets down 6.2%*Shares down 2.5%PARIS, Feb 28 (Reuters) - French retailer Casino +vowed on Tuesday to spend more on promotions this +quarter to help cash-strapped shoppers after sales at its Geant +hypermarkets in France fell sharply in the fourth quarter of +2022 amid competitive pressure.Overall group sales growth slowed in the fourth quarter +despite a robust performance in Latin America, and shares in +Casino, whose domestic rivals include Carrefour and +unlisted Leclerc, fell 2.5%.The performance in France will be closely watched after +Casino and Teract earlier this month said they were +in preliminary talks to combine their retail activities there +within an entity controlled by Casino.The company, which has been facing concerns over high debt +and low cash flow, is scheduled on March 10 to report its +full-year earnings, having said previously it was aiming for a +good level of profit and improved cash flow generation.That outlook was not included in Tuesday's press release.Casino, which also controls Brazil's Grupo Pao de Acucar +, said group fourth quarter sales reached 9.16 billion +euros ($9.7 billion), up 4.4% on a same store basis, but slower +than the 5.4% growth reported in the third quarter.FRENCH SALES BELOW ESTIMATESIn France, sales rose just 0.1% on a same store basis after +rising 3.9% in the third quarter. That was below consensus +expectations, which Jefferies analysts said stood at 2.7%."Full results will be reported on March 10 and will provide +more insights into how this is impacting the precarious leverage +position," Jefferies added.Sales at French hypermarkets fell 6.2% on a same store basis +and by 4% at French supermarkets, while sales at convenience +stores rose 4.5%.Casino is banking on an expansion of city centre convenience +stores and e-commerce, notably home delivery via partnerships +with Ocado and Amazon, to boost sales.The group said it opened 352 new convenience shops during +the quarter and 879 new stores over the year, exceeding its +target of 800 openings.($1 = 0.9447 euros) +(Reporting by Dominique Vidalon; +Editing by Sudip Kar-Gupta and Mark Potter) \ No newline at end of file diff --git "a/news/AMZN/2023.02.28/Thrilling Crime Novel \"the Shop : Part 1\" by M.E. Brow achieves #1 bestseller status on Am...txt" "b/news/AMZN/2023.02.28/Thrilling Crime Novel \"the Shop : Part 1\" by M.E. Brow achieves #1 bestseller status on Am...txt" new file mode 100644 index 0000000000000000000000000000000000000000..33a0f25697b13a972ba63f1bb00ef839519d791f --- /dev/null +++ "b/news/AMZN/2023.02.28/Thrilling Crime Novel \"the Shop : Part 1\" by M.E. Brow achieves #1 bestseller status on Am...txt" @@ -0,0 +1 @@ +"The Shop: Part 1" by M.E. Brow has achieved coveted status a #1 bestseller in Amazon's "Penology" category, surpassing iconic crime author John Grisham, and #5 in the "Violence in Society" category, and #6 in the competitive "Criminology" category, surpassing a book about the hit Netflix show Mindhunter.This 287-page crime thriller follows Jack Blasik, part of a family that owns a historic New Hampshire barbershop that has been long been used as a front for guns, drugs, and gambling. When an ex-con and former associate attempts a hostile takeover of the enterprise, violence among gangs, police, and those involved with The Shop soon follows.Full of excitement and gritty action, the novel pulls readers into a world of suspicion tension, where characters may turn on one another at any moment. As Jack considers leaving the family business to start a family, the turmoil of The Shop may prevent him from escaping - or worse, cost him his life.The Shop: Part 1 (ISBN: 9798627319162) can be purchased through retailers worldwide, including Barnes and Noble and Amazon. The paperback retails for $8.99, and the ebook retails for $2.99. Review copies and interviews are available upon request.From the back cover:Jack Blasik has grown up in the family business-a barber shop called The Shop: Cuts for Men. Few would guess this pillar of the community has always been a front for guns, drugs, and gambling in an otherwise quaint New England town in the southwestern corner of New Hampshire. When Kane Wexler, one of the shop's long-time colleagues, is released from a five-year stint in prison, he aims to take charge of The Shop and will stop at nothing to make it happen. What Kane doesn't bargain for is a rival criminal element in town, or Jack showing signs of wanting to get out of the family business and start a new life with his fiance. A violent power struggle erupts between rival gangs, law enforcement, and even among the members of The Shop that threatens to destroy them all.About the author:M. E. Brow is a native New Englander who has lived in Massachusetts and New Hampshire all his life. Brow has published three short story collections and his debut novel, "An Odyssey of Jackals", was released in 2019. His fiction has been aptly described as what might be the result of Quentin Tarantino and Edgar Allan Poe embarking on a joint writing project.You can follow him at facebook.com/mebrow09Media ContactCompany Name: MindStir Media LLCContact Person: Jen McNabneyEmail: press@mindstirmedia.comPhone: 800-767-0531Address:1 New Hampshire Ave Suite 125City: PortsmouthState: NHCountry: United StatesWebsite: https://mindstirmedia.com/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AMZN/2023.03.01/Amazon workers to walk out today in Coventry as pay row rumbles on.txt b/news/AMZN/2023.03.01/Amazon workers to walk out today in Coventry as pay row rumbles on.txt new file mode 100644 index 0000000000000000000000000000000000000000..93ec99eb9ee9d4450d58ea9c0439c32de2c9b0f1 --- /dev/null +++ b/news/AMZN/2023.03.01/Amazon workers to walk out today in Coventry as pay row rumbles on.txt @@ -0,0 +1 @@ +AMAZON workers have said that they are ready for a "David and Goliath battle" as they begin their second round of strikes this year over poor pay and working conditions.More than 350 workers at Amazon's Coventry warehouse will walk out today in a row over pay.Employees at the warehouse have said they want a wage of £15 an hour, after a recent rise saw their pay increase to £10.50 an hour.The workers initially began strike action in January, making history as the first UK branch of Amazon employees to revolt over conditions.Amazon workers will also walk out on Thursday 2 March and for five consecutive days from 13-17 March.Stuart Richards, senior organiser at GMB union, described the action as "a David and Goliath battle" and said its members were "determined to make sure it ends with a pay rise they deserve".Amazon is also facing allegations of poor working conditions, with workers previously alleging to the BBC that staff toilet breaks are timed."Amazon does not recognise the trade union involved (GMB) so this is a very difficult position to manage for them," Jo Mackie, head of employment law at Lawrence Stephens, told City A.M.When approached for comment on the strikes, an Amazon spokesperson said only a "tiny proportion" of its workforce was involved and defended its pay offer as "competitive".(c) 2023 City A.M., source Newspaper \ No newline at end of file diff --git a/news/AMZN/2023.03.01/Casino to step up promotions as cost of living crisis weighs on French sales.txt b/news/AMZN/2023.03.01/Casino to step up promotions as cost of living crisis weighs on French sales.txt new file mode 100644 index 0000000000000000000000000000000000000000..55572d408050047fb219a286bc07d6da56cd5c4d --- /dev/null +++ b/news/AMZN/2023.03.01/Casino to step up promotions as cost of living crisis weighs on French sales.txt @@ -0,0 +1,29 @@ +*Q4 group same-store sales up 4.4% vs up 5.4% in Q3*Q4 French same-store sales up 0.1%, hypermarkets down 6.2%*Shares down 2.5%PARIS, Feb 28 (Reuters) - French retailer Casino +vowed on Tuesday to spend more on promotions this +quarter to help cash-strapped shoppers after sales at its Geant +hypermarkets in France fell sharply in the fourth quarter of +2022 amid competitive pressure.Overall group sales growth slowed in the fourth quarter +despite a robust performance in Latin America, and shares in +Casino, whose domestic rivals include Carrefour and +unlisted Leclerc, fell 2.5%.The performance in France will be closely watched after +Casino and Teract earlier this month said they were +in preliminary talks to combine their retail activities there +within an entity controlled by Casino.The company, which has been facing concerns over high debt +and low cash flow, is scheduled on March 10 to report its +full-year earnings, having said previously it was aiming for a +good level of profit and improved cash flow generation.That outlook was not included in Tuesday's press release.Casino, which also controls Brazil's Grupo Pao de Acucar +, said group fourth quarter sales reached 9.16 billion +euros ($9.7 billion), up 4.4% on a same store basis, but slower +than the 5.4% growth reported in the third quarter.FRENCH SALES BELOW ESTIMATESIn France, sales rose just 0.1% on a same store basis after +rising 3.9% in the third quarter. That was below consensus +expectations, which Jefferies analysts said stood at 2.7%."Full results will be reported on March 10 and will provide +more insights into how this is impacting the precarious leverage +position," Jefferies added.Sales at French hypermarkets fell 6.2% on a same store basis +and by 4% at French supermarkets, while sales at convenience +stores rose 4.5%.Casino is banking on an expansion of city centre convenience +stores and e-commerce, notably home delivery via partnerships +with Ocado and Amazon, to boost sales.The group said it opened 352 new convenience shops during +the quarter and 879 new stores over the year, exceeding its +target of 800 openings.($1 = 0.9447 euros) +(Reporting by Dominique Vidalon; +Editing by Sudip Kar-Gupta and Mark Potter) \ No newline at end of file diff --git a/news/AMZN/2023.03.01/Deceptive Amazon Marketing And The FTC.txt b/news/AMZN/2023.03.01/Deceptive Amazon Marketing And The FTC.txt new file mode 100644 index 0000000000000000000000000000000000000000..f04de9581691d49b3a2254608f51eb6214f4763d --- /dev/null +++ b/news/AMZN/2023.03.01/Deceptive Amazon Marketing And The FTC.txt @@ -0,0 +1,12 @@ +On February 16, 2023, the Federal Trade Commission ("FTC") fined The Bountiful Company ("Bountiful") $600,000 for its misleading marketing practices on the Amazon e-commerce site. The FTC is a United States governmental agency whose primary mission is to protect consumers and enforce civil antitrust laws. Bountiful is a New York State corporation that markets and sells vitamins, minerals, and other supplements primarily through the Nature's Bounty and Sundown brands. The FTC's complaint alleged that Bountiful knowingly abused an Amazon convenience feature to market its newer/underperforming products by using reviews for Bountiful's established products. After reviewing the allegations, Bountiful signed a Consent Agreement with the FTC, agreeing to a fine of $600,000, as well as mandatory injunctive provisions. The complaint against Bountiful was the first FTC case involving Amazon "review hijacking." Because it will certainly not be the last, vendors engaged in Amazon marketing would be well-advised to understand the allegations involved in the Bountiful proceeding.What Were the Specific Bountiful Deceptive Amazon Marketing Allegations?According to the FTC, Bountiful engaged in "review hijacking," by stealing or repurposing reviews of its other established products. On multiple occasions, Bountiful is alleged to have misled Amazon consumers by combining product pages of different Bountiful supplements in order to artificially boost the review numbers and ratings for some of its newer/underperforming products.Amazon's variation policy allows vendors to group products together on the same page as long as the only differences between them are minor. For example, different quantities and flavors of a company's Vitamin D gummy may be advertised on the same page, and share the same reviews and badges. The FTC alleged that Bountiful exploited Amazon's variation policy to market completely different supplements on the same page. By listing newer, unpopular supplements, as variants of older, well-established, products, the newer items benefited from the positive reviews, ratings, and Amazon badges of the older products.In its complaint, the FTC included numerous internal emails demonstrating that Bountiful intentionally manipulated Amazon's variation policy in order to boost sales of some of its new products. For example, in an August 2020 email, a Bountiful executive explained that Bountiful "got creative" and "created variations with some of our [new products] to try and ramp them faster as they were NOT selling and we wanted to give them a little boost in R[atings]&R[eviews] to gain visibility and allow them to also borrow the 'amazon choice' badge and best seller badge which worked." In a November 2020 email, the same executive explained that her strategy of listing new products with "top sellers" allowed the new products "to essentially 'borrow' the best-selling flags, ratings, and reviews, and first page placement" of the top sellers, that she was "using this strategy with all of our launches," and that the strategy was "extremely successful" for the "Zinc gummy."By taking action against Bountiful, the FTC sends a clear message to the industry that it will take the steps necessary to protect consumers from misleading marketing on Amazon.How Can Companies Ensure FTC Compliance when Marketing on Amazon?In addition to being fined $600,000, Bountiful also agreed to future marketing restrictions contained in the FTC Consent Agreement. Companies advertising on Amazon can employ these marketing restrictions as a checklist to help avoid FTC scrutiny:Products or services must not make any misrepresentation:A. that a reviewer or other person reviewed, endorsed, or used the product or service;B. about the number of ratings or reviews the product or service has received;C. about the average star rating of the product or service;D. about the product or service being a best seller; orE. about the product or service having earned an Amazon's Choice badge or designation.In addition, companies must not:A. create or request the creation of variation or other relationships between different products sold on Amazon.com or any other online shopping platform or website; orB. otherwise procure, suppress, boost, organize, selectively publish, up-vote, down-vote, or edit consumer reviews or ratings of products or services,in any manner that distorts or otherwise misrepresents what consumers think of such products or services.As mentioned above, this was the first FTC case involving review hijacking. It is unlikely to be the last. As most Amazon shoppers know, many items are listed on variant product pages. Companies engaged in marketing on Amazon and other e-commerce sites should retain counsel to ensure that their products are properly advertised.Similar Blog Posts:New FTC Health-Related Advertising Guidelines ReleasedFTC Guidelines on Negative Option Marketing ReleasedLendEDU to Settle Alleged FTC Marketing Law ViolationsThe content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr David O. Klein +Klein Moynihan Turco LLP +450 7th Avenue +New York +NY 10123 +UNITED STATES +Tel: 212246 0900 +Fax: 212246 0900 +E-mail: dklein@legal.org +URL: www.kleinmoynihan.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git "a/news/AMZN/2023.03.01/Thrilling Crime Novel \"the Shop : Part 1\" by M.E. Brow achieves #1 bestseller status on Am...txt" "b/news/AMZN/2023.03.01/Thrilling Crime Novel \"the Shop : Part 1\" by M.E. Brow achieves #1 bestseller status on Am...txt" new file mode 100644 index 0000000000000000000000000000000000000000..33a0f25697b13a972ba63f1bb00ef839519d791f --- /dev/null +++ "b/news/AMZN/2023.03.01/Thrilling Crime Novel \"the Shop : Part 1\" by M.E. Brow achieves #1 bestseller status on Am...txt" @@ -0,0 +1 @@ +"The Shop: Part 1" by M.E. Brow has achieved coveted status a #1 bestseller in Amazon's "Penology" category, surpassing iconic crime author John Grisham, and #5 in the "Violence in Society" category, and #6 in the competitive "Criminology" category, surpassing a book about the hit Netflix show Mindhunter.This 287-page crime thriller follows Jack Blasik, part of a family that owns a historic New Hampshire barbershop that has been long been used as a front for guns, drugs, and gambling. When an ex-con and former associate attempts a hostile takeover of the enterprise, violence among gangs, police, and those involved with The Shop soon follows.Full of excitement and gritty action, the novel pulls readers into a world of suspicion tension, where characters may turn on one another at any moment. As Jack considers leaving the family business to start a family, the turmoil of The Shop may prevent him from escaping - or worse, cost him his life.The Shop: Part 1 (ISBN: 9798627319162) can be purchased through retailers worldwide, including Barnes and Noble and Amazon. The paperback retails for $8.99, and the ebook retails for $2.99. Review copies and interviews are available upon request.From the back cover:Jack Blasik has grown up in the family business-a barber shop called The Shop: Cuts for Men. Few would guess this pillar of the community has always been a front for guns, drugs, and gambling in an otherwise quaint New England town in the southwestern corner of New Hampshire. When Kane Wexler, one of the shop's long-time colleagues, is released from a five-year stint in prison, he aims to take charge of The Shop and will stop at nothing to make it happen. What Kane doesn't bargain for is a rival criminal element in town, or Jack showing signs of wanting to get out of the family business and start a new life with his fiance. A violent power struggle erupts between rival gangs, law enforcement, and even among the members of The Shop that threatens to destroy them all.About the author:M. E. Brow is a native New Englander who has lived in Massachusetts and New Hampshire all his life. Brow has published three short story collections and his debut novel, "An Odyssey of Jackals", was released in 2019. His fiction has been aptly described as what might be the result of Quentin Tarantino and Edgar Allan Poe embarking on a joint writing project.You can follow him at facebook.com/mebrow09Media ContactCompany Name: MindStir Media LLCContact Person: Jen McNabneyEmail: press@mindstirmedia.comPhone: 800-767-0531Address:1 New Hampshire Ave Suite 125City: PortsmouthState: NHCountry: United StatesWebsite: https://mindstirmedia.com/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/ANSS/2023.01.03/Ansys Acquires Leading Particle Dynamics Simulation Software Rocky.txt b/news/ANSS/2023.01.03/Ansys Acquires Leading Particle Dynamics Simulation Software Rocky.txt new file mode 100644 index 0000000000000000000000000000000000000000..7a3859579dce6dc0ca1ee14b753566c297bf3476 --- /dev/null +++ b/news/ANSS/2023.01.03/Ansys Acquires Leading Particle Dynamics Simulation Software Rocky.txt @@ -0,0 +1,42 @@ + + +The product acquisition builds Ansys' presence in South America; further accelerates Ansys' discrete particle mechanics offerings across multiple industrial sectors; and drives deeper integration into the Ansys ecosystem +Key Highlights +Ansys will add Rocky DEM to its portfolio — helping engineers solve challenging design problems involving discrete solids with complex multiphysics interactionsRocky DEM software can model a wide variety of cross-industry applications related to bulk materials and solid handling processes enabling users to assess the dynamic behavior of the particles and the related equipment early in the design phaseDeeper integration with Ansys ecosystem further extends particle mechanics to applications that involve Ansys' structural and fluid analysis toolsPITTSBURGH, Jan. 3, 2023 /PRNewswire/ -- Ansys (NASDAQ: ANSS), the global leader and innovator of engineering simulation software, announced today the acquisition of Engineering Simulation and Scientific Software Rocky DEM, S.L. ("Rocky").  With this acquisition, Ansys adds Rocky, the leading discrete element method (DEM) tool, and a skilled team of developers, application support technicians and customer-facing staff in Brazil, Spain, and the United States. The transaction is not expected to have a material impact on Ansys' consolidated financial statements in 2023. + + + + + + + +Rocky was a subsidiary of Engineering Simulation and Scientific Software (ESSS), a long-term Ansys Channel Partner, and developer of engineering software dedicated to modeling discrete mechanics problems. Ansys' acquisition of Rocky builds on the companies' long-term partnership and joint particle modeling workflow announced in 2021. Rocky's software, with specific strengths in GPU computing and applying particle methods to multiphysics simulations, is used in wide variety of cross-industry applications that involve discrete solids of any size and shape. +Particle modeling spans many industries and applications; particles can consist of medical tablets, food snacks, agriculture seeds, powders, and even fibers used in filtration devices. Industry leaders are challenged to improve their product quality and find solutions to help accelerate their decision-making related to the design, manufacturing, and operation of their particulate systems.   +Rocky is a leading DEM software package that quickly and accurately simulates the dynamic flow behavior of discrete solids and particle-laden free-surface flows in multiple industries. Rocky simulations provide powerful insight to help reduce waste, improve product quality, increase product uniformity, predict performance and +durability of equipment during operation, meet resource management, and address sustainability concerns. +"Rocky's unique approach to discrete particle modeling empowers our customers to solve a wide variety of problems across virtually all industries," said Shane Emswiler, senior vice president of products at Ansys. "Fully integrating Rocky into Ansys' portfolio and welcoming its distinguished experts to our team builds upon our demonstrated success and enables Ansys to provide an even more efficient and powerful solution for our customers. We are delighted to welcome Rocky into the Ansys family." +This acquisition will ensure that Ansys customers have long-term, uninterrupted access to powerful high-fidelity particle modelling that is deeply integrated with other Ansys solutions to solve an expanding set of problems involving discrete particles. Incorporating Rocky technology into the Ansys portfolio will also facilitate long-term synergies in the Ansys portfolio that would not otherwise be possible, such as inclusion of Rocky into the PyAnsys framework. +"Our longstanding relationship with Ansys has not only expanded Rocky's reach to new sectors and industries, but also given engineers access to a technology to rapidly run large, highly-realistic simulations that include accurate particle details," said Dr. Alexander Potapov, chief technology officer at Rocky. +"The Rocky team is elated to join Ansys and further combine Rocky's state-of-the-art particle simulation capabilities with Ansys' flagship simulations — allowing engineers to design more reliable products, slash development time, and win the race to market," said Marcos Damiani, numerical development principal at Rocky. +/ About Ansys +When visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys. +Take a leap of certainty … with Ansys. +Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners. +/ Forward-Looking Information  +This information contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the acquisition, including statements regarding the benefits of the acquisition and the products and markets of each company. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "future," "opportunity," "plan," "may," "should," "will," "would," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements including but not limited to: (i) the risk that the acquisition may not be completed in a timely manner or at all; (ii) the failure to satisfy the conditions to the consummation of the acquisition; (iii) risks that the proposed transaction disrupts current plans and operations of Rocky and potential difficulties in Rocky's employee retention as a result of the transaction; (iv) the occurrence of any event, change or other circumstance that could give rise to the termination of the acquisition agreement; (v) risks related to diverting management's attention from Rocky's ongoing business operations; (vi) the ability of Ansys to successfully integrate Rocky's operations, product lines, and technology; (vii) the ability of Ansys to implement its plans, forecasts, and other expectations with respect to Rocky's business after the completion of the acquisition and realize additional opportunities for growth and innovation; and (viii) adverse changes in the economic and political conditions in the regions in which Ansys and Rocky operate. In addition, please refer to the documents that Ansys files with the SEC on Forms 10-K, 10-Q and 8-K. These filings identify and address other important risks and uncertainties that could cause events and results to differ materially from those contained in the forward-looking statements set forth herein. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Ansys assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners. +ANSS–F +/ Contacts +Media          Mary Kate Joyce                    724.820.4368                    marykate.joyce@ansys.com  +Investors     Kelsey DeBriyn                    724.820.3927                    kelsey.debriyn@ansys.com  + + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/ansys-acquires-leading-particle-dynamics-simulation-software-rocky-301712288.html +SOURCE Ansys + + diff --git a/news/ANSS/2023.01.05/Ansys Simulation Empowers Atomberg to Reduce Home Appliance Energy Consumption by 65%.txt b/news/ANSS/2023.01.05/Ansys Simulation Empowers Atomberg to Reduce Home Appliance Energy Consumption by 65%.txt new file mode 100644 index 0000000000000000000000000000000000000000..15431a90520d93b121c606fbc738d9e67c1fd12e --- /dev/null +++ b/news/ANSS/2023.01.05/Ansys Simulation Empowers Atomberg to Reduce Home Appliance Energy Consumption by 65%.txt @@ -0,0 +1,43 @@ + + +Ansys technology enables a smarter, "sustainable-by-design" R&D strategy for home appliances with much smaller carbon footprints +/ Key Highlights +Designed with a simulation-driven, super-efficient brushless DC motor, the fan generates energy savings of approximately 50 watts of electricity per dayWith support from Ansys Elite Channel Partner CADFEM India, Ansys software is used throughout Atomberg's development process for blade airflow, aero-acoustic and modal analysis, blade rivet dynamic load studies as well as stress and deformation analysis of the rotor  PITTSBURGH, Jan. 5, 2023 /PRNewswire/ -- Ansys (NASDAQ: ANSS) simulation solutions empowered Atomberg, a high-efficiency fan and small appliance manufacturer, to develop a more energy-efficient electric fan motor. The result is a smarter, more sustainable and streamlined internet-of-things (IoT)-enabled ceiling fan design that consumes 65% less electricity than conventionally powered fans. + + + + + + + +Traditional ceiling fans consume 70-80 watts of electricity per day, yet only use 22 watts of that energy to power the fan blades — resulting in a net loss of almost 50 watts in the form of heat. This performance has a negative environmental impact on a very large scale. Atomberg was founded to challenge the existing market and deliver new home appliance experiences as part of its "sustainable-by-design" R&D strategy. +The Atomberg team leveraged Ansys software to deliver a more compact, energy-efficient brushless DC motor design that runs on 28 watts of electricity versus the 70-80 watts required by a conventional induction motor. This design enables roughly three Atomberg fans to run on the same amount of power required by a single induction-motor-based fan. +Atomberg also uses Ansys simulation for structural analysis and assessment of fluid dynamics in various aspects of its fan designs to further streamline and improve overall fan performance. +"Our fan designs are undergoing drastic changes in terms of energy efficiency, materials, and overall look and feel," said Manoj Meena, chief executive officer and founder of Atomberg. "Our motor technology is continuously evolving, and simulation is an important part of that evolutionary journey. Ansys tools help us to efficiently validate all kinds of variables including cost optimization, product design, and performance requirements, reducing our prototyping efforts."   +"Simulation and virtual prototyping can play a powerful role in reducing manufacturing's carbon footprint and creating novel sustainable solutions by default technologies," said Walt Hearn, vice president of worldwide sales and customer excellence at Ansys. "Ansys is proud to provide innovators with the engineering simulation to make better decisions more efficiently with the speed and scale required." +To speak with Ansys executives and subject matters and learn more about how customers are leveraging Ansys solutions, visit Ansys at CES in Las Vegas from Jan. 5-8, 2023, at booth #4401. +/ About AnsysWhen visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys. +Take a leap of certainty … with Ansys. +Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners. +ANSS–C +/ Contacts +Media      +Mary Kate Joyce +724.820.4368  +marykate.joyce@ansys.com  +Investors    +Kelsey DeBriyn +724.820.3927  +kelsey.debriyn@ansys.com  +  + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/ansys-simulation-empowers-atomberg-to-reduce-home-appliance-energy-consumption-by-65-301714134.html +SOURCE Ansys + + diff --git a/news/ANSS/2023.01.05/Bianchi Uses Ansys to Reduce Physical Bicycle Prototypes by 70.txt b/news/ANSS/2023.01.05/Bianchi Uses Ansys to Reduce Physical Bicycle Prototypes by 70.txt new file mode 100644 index 0000000000000000000000000000000000000000..e09402fdc3fb83e0955f9ad1a9fd5f837e63273a --- /dev/null +++ b/news/ANSS/2023.01.05/Bianchi Uses Ansys to Reduce Physical Bicycle Prototypes by 70.txt @@ -0,0 +1,42 @@ + + +Ansys showcases Bianchi's E-Omnia high-performance e-bike during CES 2023 +/ Key Highlights +Ansys simulation helped enable a new approach to road bike prototyping, using every model size and test bench with fewer physical prototypes and design modificationsWith support from Ansys channel partner EnginSoft, Bianchi also uses Ansys software for design and safety verification of its e-bikes in response to growing consumer demands for green mobilityPITTSBURGH, Jan. 5, 2023 /PRNewswire/ -- Italian bicycle manufacturer Bianchi used Ansys (NASDAQ: ANSS) simulation software to realize a 70% reduction in frame prototyping in the efficient optimization of its road bike and e-bike designs – speeding time to market and reducing development costs. Ansys solutions helped enable stronger, lighter, stiffer bike frame geometries that meet ISO safety standards while satisfying competitive cycling and e-bike design requirements. Bianchi's E-Omnia e-bike is on display during CES at Ansys booth #4401. + + + + + + + +Designing bicycles that conform to numerous applications or environments presents significant challenges for manufacturers. In the world of competitive cycling, there is considerable demand for bikes that are lighter, stiffer and faster. For e-bikes, suspension components must be lightweight, yet strong enough to withstand pavement impacts. To meet these demands, engineers require an understanding of frame design as it relates to material stiffness, weight, component integration, and the aerodynamics of rider and bike in a variety of environments. +Bianchi used Ansys' multiphysics capabilities to understand the impact of frame geometry on overall performance. Within Ansys® SpaceClaim®, Bianchi used a dynamic 3D model of rider position in combination with drivetrain efficiency data to make predictions about what levels of power and performance can be expected during time trials or specific stages of a competitive race. Ansys® Mechanical™ also helped engineers understand and identify the level of suspension e-bike kinematics needed to withstand hard pavement yet conform with lighter component materials — often revealing interesting mechanical properties that led to new design ideas. +"One of the biggest discoveries we made during testing was that frame stiffness is dependent on the geometrical harmony between all the tubes of the frame, including the top tube, which we had previously overlooked," said Marco Borgonovo, head of product at Bianchi. "It's just one of many examples of how using Ansys simulation helped us to understand which parts of the frame really influence aerodynamic performance — where it makes sense to work more and optimize more, rather than stick to conventional wisdom and dismiss the importance of the top tube altogether." +"The role of bicycles has evolved beyond recreation to green transportation," said Walt Hearn, vice president of worldwide sales and customer excellence at Ansys. "This shift reflects a preference for ergonomic designs influenced by lower drag, lighter frames and greater performance. Using Ansys simulation solutions helps our customers efficiently work through large design challenges like these with fewer prototypes, saving them time, effort and costs on the way to something new." +Visit Ansys at CES in Las Vegas from Jan. 5-8, 2023, at booth #4401 to see Bianchi's e-bike, E Omnia, on display and learn more. +/ About AnsysWhen visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys. +Take a leap of certainty … with Ansys. +Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners. +ANSS–C +/ Contacts +Media    +Mary Kate Joyce +724.820.4368 +marykate.joyce@ansys.com  +Investors    +Kelsey DeBriyn +724.820.3927 +kelsey.debriyn@ansys.com  +  + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/bianchi-uses-ansys-to-reduce-physical-bicycle-prototypes-by-70-301714142.html +SOURCE Ansys + + diff --git a/news/ANSS/2023.01.05/Halodi Robotics Leverages Ansys Simulation to Develop Humanoid Robots to Safely Work Am...txt b/news/ANSS/2023.01.05/Halodi Robotics Leverages Ansys Simulation to Develop Humanoid Robots to Safely Work Am...txt new file mode 100644 index 0000000000000000000000000000000000000000..8ff75f71c59d82cb5ff75badd8daf391389b3906 --- /dev/null +++ b/news/ANSS/2023.01.05/Halodi Robotics Leverages Ansys Simulation to Develop Humanoid Robots to Safely Work Am...txt @@ -0,0 +1,39 @@ + + +Ansys software enables engineers to develop high-torque density motors and low-gear ratio transmission so powerful robots can interact gently with humans in real-world settings +/ Key Highlights +Halodi Robotics used simulation through the Ansys Startup Program to reduce development time of humanoid robots by monthsAnsys helped enable Halodi Robotics engineers to develop motors with enough power to lift heavy items while simultaneously being gentle enough to retrieve a laptop and hand it to a human colleaguePITTSBURGH, Jan. 5, 2023 /PRNewswire/ -- Halodi Robotics is using Ansys (NASDAQ: ANSS) simulation software through the Ansys Startup Program to develop its humanoid robots designed to work among humans in everyday environments. Humanoid robots can help alleviate the growing labor shortage, and free critical personnel to focus on tasks that require their high-level skills. These robots will perform jobs such as patrolling buildings at night, stocking grocery shelves, and executing logistical tasks at hospitals. With Elite Channel Partner EDRMedeso, Ansys enabled Halodi Robotics to shorten development time by months. + + + + + + + +Up until now, robotic machines have only been seen working in factories performing repetitive and precise tasks. With humanoid robots, the most significant difference is that they are capable of interacting with the world just like humans do. To be able to do so, safety is the most important factor for ensuring successful deployment. Halodi Robotics engineers used Ansys to develop motors with enough power to lift heavy packages in a warehouse while simultaneously being gentle enough to retrieve a laptop and hand it to a human colleague. +Last spring, Halodi Robotics tested its robot EVE as an assistant to healthcare personnel at Sunnaas Hospital in Norway, executing logistical tasks. The hospital identified that using EVE as an assistant has the potential to free up the approximately 200 hours nurses spend on simple logistics tasks, allowing them to spend more time caring for patients. +"Safety must come first when designing a humanoid robot that will interact with and work among people. Our goal is to engineer a product that is passively safe, making sure that if everything fails, the robot is still harmless," said Bernt Øivind Børnich, chief executive officer at Halodi Robotics. "Simulating the design of powerful yet safe electric motor systems using Ansys software reduced the development time of our second generation of motors by months." +Halodi Robotics engineers used Ansys Motor-CAD simulation software to develop motors that mimic biological systems, such as human muscles. Synthetic fiber threads connected to actuators are driven by very lightweight, low-speed motors with very high torque. These motors provide the high power and low-energy interactions required by humanoid robots. +"We're amazed at what Halodi Robotics has been able to accomplish. With the help of Ansys software, engineers are making humanoid robots safe to work around people," said Walt Hearn, vice president of worldwide sales and customer excellence at Ansys. "Moving robots out of confined, structured industrial settings and enabling them to interact with people in real-world settings is a significant leap forward in robotics technology." +To speak with Ansys executives and subject matters and learn more about how customers are leveraging Ansys solutions, visit Ansys at CES in Las Vegas from Jan. 5-8, 2023, at booth #4401. +/ About AnsysWhen visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys. +Take a leap of certainty … with Ansys. +Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners. +ANSS–C +/ Contacts +Media +Mary Kate Joyce724.820.4368 marykate.joyce@ansys.com  +Investors +Kelsey DeBriyn 724.820.3927 kelsey.debriyn@ansys.com  +  + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/halodi-robotics-leverages-ansys-simulation-to-develop-humanoid-robots-to-safely-work-among-people-301714136.html +SOURCE Ansys + + diff --git a/news/ANSS/2023.01.05/Praan Speeds Development of Sustainable Air Purification Technology with Ansys Simulati...txt b/news/ANSS/2023.01.05/Praan Speeds Development of Sustainable Air Purification Technology with Ansys Simulati...txt new file mode 100644 index 0000000000000000000000000000000000000000..5f8fedd833d954fe67540898accaf4d391a96cb8 --- /dev/null +++ b/news/ANSS/2023.01.05/Praan Speeds Development of Sustainable Air Purification Technology with Ansys Simulati...txt @@ -0,0 +1,42 @@ + + +The company developed filterless air purification technology for small and large spaces using Ansys' best-in-class simulation solutions +/ Key Highlights +Praan accessed Ansys simulation through the Ansys Startup Program to develop filterless, large-space air purifiers that ensure near-zero cost of maintenance and provide affordable clean airAnsys simulation enabled Praan to develop its MK One, MK Two, and HIVE products, all of which are redefining the user experience for air purification of large spacesWith support from Ansys Elite Channel Partner CADFEM India, Ansys solutions helped Praan develop the purifiers up to 36X faster than traditional development methods, eliminating the need for multiple, expensive physical prototypesPITTSBURGH, Jan. 5, 2023 /PRNewswire/ -- US and India-based technology startup Praan, Inc. (Praan) developed its latest filterless air purification technology using Ansys' (NASDAQ: ANSS) industry-leading simulation solutions. The company's advanced technology includes filterless purifiers for indoor air in large spaces with near-zero maintenance costs, and an advanced tablet-based activated carbon filter. Praan's technology is currently on display at CES at Ansys' booth, #4401. + + + + + + + +To help mitigate the worldwide problem of air pollution, Praan designed the MK One and MK Two for large spaces. The advanced air purification technologies — designed with Ansys® Fluent® computational fluid dynamics — capture polluted air, separate microscopic particulate matter (particle pollution) into a collection chamber, and release cleaner air back into the atmosphere. Additionally, Praan offsets any carbon dioxide emitted during manufacturing through afforestation or direct air capture methods, making all their products net-zero. +"With Ansys simulation, our team significantly reduced the development time of functional prototypes from four and a half years to 45 days," said Angad Daryani, founder and chief executive officer at Praan. "Without simulation, it would have cost tens of millions of dollars and lots of time. It's just not feasible when building large devices to build multiple physical prototypes, which is why it's essential for us to incorporate Ansys simulation and virtual prototyping into our development and design processes." +Beyond its strides with filterless technology in industrial markets, Praan also used Ansys simulation to develop the HIVE air purifier for smaller spaces. The HIVE uses an advanced tablet-based activated carbon filter and a recyclable high-efficiency particulate air (HEPA) filter, ensuring complete reuse without the disposal of unsustainable materials. HEPA filtration was instrumental during the COVID-19 pandemic and continues to be a vital tool in mitigating airborne bacteria. For the HIVE, Praan used Ansys simulation solutions to understand fan requirements and develop specifications in two weeks, rather than the estimated four months it would have taken without simulation. +"Ansys is committed to sustainability, and we are grateful that Ansys' simulation solutions have enabled Praan to contribute to the global clean-air mission," said Walt Hearn, vice president of worldwide sales and customer excellence at Ansys. "By developing advanced air purification technology for small and large spaces, Praan is helping improve air quality in a wide range of environments around the world." +Visit Ansys at CES in Las Vegas from Jan. 5-8, 2023, at booth #4401 to see Praan's HIVE on display. +/ About AnsysWhen visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys. +Take a leap of certainty … with Ansys. +Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners. +ANSS–C +/ Contacts +Media +Mary Kate Joyce                 +724.820.4368 +marykate.joyce@ansys.com  +Investors +Kelsey DeBriyn  +724.820.3927 +kelsey.debriyn@ansys.com  +  + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/praan-speeds-development-of-sustainable-air-purification-technology-with-ansys-simulation-301714408.html +SOURCE Ansys + + diff --git a/news/ANSS/2023.01.05/Sub-Zero Group, Inc. Expands Use of Ansys' Simulation Solutions to Drive Digital Transf...txt b/news/ANSS/2023.01.05/Sub-Zero Group, Inc. Expands Use of Ansys' Simulation Solutions to Drive Digital Transf...txt new file mode 100644 index 0000000000000000000000000000000000000000..2389e6adc8970f23f9c7439bd9f90e8a56076ea0 --- /dev/null +++ b/news/ANSS/2023.01.05/Sub-Zero Group, Inc. Expands Use of Ansys' Simulation Solutions to Drive Digital Transf...txt @@ -0,0 +1,33 @@ + + +Sub-Zero Group and Ansys enter into a new multiyear agreement to advance simulation-driven product development, improve designs, and reduce physical prototyping +/ Key Highlights +Sub-Zero Group integrates Ansys simulation solutions into early R&D stages to optimize designs, workflows, and efficiencyAnsys simulation helps Sub-Zero Group accelerate development timelines by nearly 20% and reduce physical prototypes by 50%PITTSBURGH, Jan. 5, 2023 /PRNewswire/ -- Building on a longstanding relationship, Ansys (NASDAQ: ANSS) signed a multiyear agreement with Sub-Zero Group, Inc. (Sub-Zero Group) to expand Sub-Zero Group's use of Ansys' simulation solutions and digitally transform its research and development (R&D) processes to optimize designs, efficiency, and product quality. The industry-leading manufacturer of premium kitchen appliance brands Sub-Zero, Wolf, and Cove, Sub-Zero Group implements Ansys' industry-leading simulation tools to inform designs from early stages, reduce physical prototypes by up to 50%, and accelerate development by nearly 20%. + + + + + + + +Historically, Sub-Zero Group integrated simulation as a late-stage verification method. Today, Ansys helps Sub-Zero Group create and maintain an infrastructure that includes automated and semi-automated workflows in which simulation is used to ideate and fine-tune designs before a physical prototype is ever made. Further, by shifting to virtual prototyping and testing, Sub-Zero Group improves sustainability by decreasing material usage and manufacturing time, which preserves energy and eliminates unnecessary waste. +"By incorporating Ansys' simulation solutions earlier in our R&D processes, we are now beginning with the end in mind," said Terry Hoffman, senior director at Sub-Zero Group. "With simulation front and center from early-stage design, we can see the bigger picture and better inform our development process, accelerate timelines, reduce physical prototyping, and, ultimately, enhance product quality and safety. Essentially, Ansys simulation enables us to deliver our brand promise of producing world-class kitchen appliances." +Under the agreement, Sub-Zero Group will continue to leverage tools such as Ansys® Mechanical™ for structural analyses, Ansys® Fluent® for computational fluid dynamics, and developing Ansys® HFSS™ capabilities to understand electromagnetic phenomena. From noise to thermal stresses, connectivity, and more, Ansys simulation provides Sub-Zero Group with insight into areas that could not be fully explored with physical testing alone. +"Ansys is proud to collaborate with Sub-Zero Group to drive digital transformation and sustainable product development by encouraging simulation as an active part of development," said Walt Hearn, vice president of worldwide sales and customer excellence at Ansys. "Simulation integration not only saves time and cost but provides critical insight to optimize product performance, safety, and efficiency." +To speak with Ansys executives and subject matters and learn more about how customers are leveraging Ansys solutions, visit Ansys at CES in Las Vegas from Jan. 5-8, 2023, at booth #4401. +/ About AnsysWhen visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys. +Take a leap of certainty … with Ansys. +Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners. +ANSS–C +/ Contacts +Media +Mary Kate Joyce 724.820.4368 marykate.joyce@ansys.com  +Investors +Kelsey DeBriyn 724.820.3927 kelsey.debriyn@ansys.com  + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/sub-zero-group-inc-expands-use-of-ansys-simulation-solutions-to-drive-digital-transformation-and-sustainable-product-development-301714147.html +SOURCE Ansys + + diff --git a/news/ANSS/2023.01.05/Turntide Leverages Ansys to Reduce Development Costs for Electric-Powered Construction ...txt b/news/ANSS/2023.01.05/Turntide Leverages Ansys to Reduce Development Costs for Electric-Powered Construction ...txt new file mode 100644 index 0000000000000000000000000000000000000000..7c6e33ed30e8f943ec6a4e61c2e88f8990f632cd --- /dev/null +++ b/news/ANSS/2023.01.05/Turntide Leverages Ansys to Reduce Development Costs for Electric-Powered Construction ...txt @@ -0,0 +1,46 @@ + + +Ansys simulation solutions are key to developing Turntide's zero-emissions electric powertrain components and battery systems +/ Key Highlights +Turntide uses a suite of Ansys tools to develop and test electrification solutions for off-highway vehicles such as construction and agricultural machinesAnsys electromagnetic simulation solutions helped Turntide engineers reduce development costs by about 25%PITTSBURGH, Jan. 5, 2023 /PRNewswire/ -- Turntide Technologies (Turntide), developer of electrification and sustainable operations technologies, is leveraging Ansys (NASDAQ: ANSS) solutions to produce electric vehicle powertrain components that help its customers transform commercial and industrial vehicles from gas and diesel engines to clean, quiet battery electric machines — a significant step towards achieving global net-zero goals. + + + + + + + +While many automakers electrify passenger vehicles, Turntide is focused on supplying electrification solutions for commercial and industrial vehicles, such as construction equipment, agricultural machines, trains, marine and freight movers. These vehicles present greater sustainability challenges than passenger vehicles because of their heavy-duty loads, work cycles, and vibration. Timely, cost-effective simulation is essential to develop the solution components. +Turntide uses a suite of Ansys tools to design and test components for construction equipment such as front wheel loaders or mini excavators. These simulations show the impact of extreme scenarios including weather, vibration, impact, and corrosive exposure to salt, sand and chemicals and provide performance and safety data. +"Typically, testing a product prototype for electromagnetic compatibility at an accredited test facility costs more than $34,000 over a two-week period," said Biswadip Shome, senior director, simulation and analysis at Turntide. "Instead of performing prototype-based trial and error solutioning, which is not only time consuming but also expensive, a physics-based simulation using Ansys toolsets provides a significant business advantage. We estimate that we save about 25% on development costs by using simulation." +Critical simulations for inverters, one of the most important components for electric vehicles, are conducted for shock and vibration to ensure the printed circuit board assembly can endure rugged environments, and thermal systems are simulated to evaluate coolant pressure drops and effectiveness in harsh climates. +"It's astounding to see the energy and carbon emissions savings that Turntide is achieving by using Ansys simulation to develop electric powertrains," said Walt Hearn, vice president of worldwide sales and customer excellence at Ansys. "We are proud to be part of their success story."  +Visit Ansys at CES in Las Vegas from Jan. 5-8, 2023, at booth #4401 to see Turntide's batteries and inverters on display and learn more. +/ About Turntide Technologies  +Turntide Technologies (Turntide) invents and scales breakthrough technologies to accelerate electrification and sustainable operations for energy-intensive industries. Turntide's full stack, integrated, open systems support commercial and industrial electric vehicles, building operations, and agriculture to optimize how the world uses energy. Turntide enables companies to lead their industries by attacking energy waste at every level and operating smarter for accelerated growth. For more information, visit https://turntide.com/ or follow the company on LinkedIn and YouTube. +/ About Ansys +When visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys. +Take a leap of certainty … with Ansys. +Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners. +ANSS–C +/ Contacts +Media +Mary Kate Joyce +724.820.4368 +marykate.joyce@ansys.com +Investors +Kelsey DeBriyn +724.820.3927 +kelsey.debriyn@ansys.com  +  + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/turntide-leverages-ansys-to-reduce-development-costs-for-electric-powered-construction-vehicles-301714132.html +SOURCE Ansys + + diff --git a/news/ANSS/2023.01.09/Ansys : Observations from COP27.txt b/news/ANSS/2023.01.09/Ansys : Observations from COP27.txt new file mode 100644 index 0000000000000000000000000000000000000000..2fa7ba0dd480bcf6cba8fbdc56afe7217719a032 --- /dev/null +++ b/news/ANSS/2023.01.09/Ansys : Observations from COP27.txt @@ -0,0 +1,159 @@ + + + + ANSYS BLOG + + + January 9, 2023 + + + + + Observations from COP27: How Engineering Simulation Supports Sustainability + + + + + For two weeks in November, much of the world's attention was focused on Sharm El Sheikh, Egypt, which hosted COP27, a meeting of the 198 countries that have signed the UN Framework Convention on Climate Change. COP27 is more than a UN meeting - it's a broader gathering of government officials, non-governmnet organizations (NGOs), activists, company leaders, and academics who collaborate and discuss ways to tackle this global problem. + + + Given the increasing role of technology in driving down emissions, capturing and storing carbon, and leveraging green materials, the role that Ansys can play in this effort is becoming increasingly important. To assess the potential extent of our role, we have been casting a wide net to collect what our customers are doing under the banner of sustainability. We recognize that the contribution of engineering, and by extension simulation, to this massive global effort is growing. So, when Microsoft, one of our strategic partners, invited us to attend COP27, we were grateful for the opportunity. + + + We learned a lot at COP27. Here we share a few observations of major importance that we took away from the meeting. + + + + + The author (right) and Ansys Program Director for Healthcare Solutions, Thierry Marchal, attended COP27 in Egypt. + + + + + The Finances Are Coming + + + A common theme at COP27 was the massive shift of capital needed to fund the energy transition required to fight climate change. Ministers, bankers, and technology leaders noted that the movement of funds and interest has been truly remarkable. In the U.S., major investment and build-out opportunities will be dramatically increasing thanks to the recently passed Inflation Reduction Act. More broadly, governments worldwide are increasingly looking to invest alongside private capital to help close the "green premium" gap that exists in moving to renewable energy. Their participation is also key in lowering the risk for companies that are taking the lead in deploying new technologies. + + + Where is the money going? + + + + Startups are going to receive a lot of funding, and for good reasons. Our experience in this area shows that nearly 30% of active startups using Ansys software primarily define themselves as developing sustainability technologies. + + + Many medium and large companies that are active in sustainability efforts stand to benefit from this influx of funding, too. + + + Academic programs that are starting new sustainability programs, or even, as in the case of Stanford, entire new colleges, will also look to take advantage of this financial movement to train the next generation of climate engineers and scientists. + + + + + + "We Have the Technology, We Just Need to Scale" + + + Speaker after speaker at COP27 drilled home the point that the most important technology-related action we can take now is to scale up what we already have. This doesn't mean that R&D into new energy or carbon capture technologies should stop, but we should not mistake these future technologies as magical solutions that will absolve us of doing what we can right now with existing technologies. Luckily, Ansys has experience helping our customers with scaling up operations. + + + + + + Take, for instance, another kind of global emergency that we recently experienced: the COVID-19 pandemic. Scaling up vaccine production from beaker to bioreactor is critical for inoculating global populations against disease. In most instances, vaccine development begins in a small beaker on a lab bench and must be rapidly scaled up - initially to meet the requirements of clinical trials and subsequently, when approved, to immunize billions of people. Scaling up is a high stakes process: Improperly designed or operated bioreactors can cause months-long delays and cost millions of dollars in wasted raw materials. Engineers use field-tested Ansys computational fluid dynamics (CFD) simulations to scale up bioreactors for vaccine production and other applications. + + + Examples of existing sustainability technologies that could benefit from similar production and cost scaling include: + + + + Green hydrogen + + + Carbon capture and storage + + + Electrification of transportation + + + Green steel and concrete + + + Large-scale solar plants + + + More efficient equipment (HVAC, other) + + + New nuclear technologies, like small modular reactors (SMR) + + + Offshore wind + + + + + + Ansys Program Director for Healthcare Solutions, Thierry Marchal, speaks with a COP27 attendee. + + + + + + Beware of the Greenwashing Danger + + + "Greenwashing involves making an unsubstantiated claim to deceive consumers into believing that a company's products are environmentally friendly or have a greater positive environmental impact than they actually do," according to Investopedia. + + + Concern about avoiding greenwashing was evident at COP27 in an undercurrent of discussion that can be summarized as "talk is cheap, but this all requires action to back it up." At Ansys, we're committed to taking real, intentional action to further our impact. To that end, we're going to focus on the following as distinct next steps: + + + +Academic - Ramp up on building training and curriculum materials and focus on specific leading universities through direct engagement, funding, and internships. + + +Government - Find new ways to engage with key government labs and officials around the world to explore how targeted government investment in simulation can help drive innovation in the right areas to accelerate the work that needs to be done. + + +Commercial - Engage directly with chief sustainability officers to better understand their perspectives and get their advice about how to optimally deploy simulation within their teams. Ultimately, we want to help these executives achieve their sustainability goals, and we believe simulation can play a major role. This includes a possible large-scale shift to cloud computing, which has a lower carbon footprint compared to on-premises computing and could be of value to those counting scope 2 or 3 emissions. + + + + + + COP27 organizers created the Green Zone as a platform for the business community, academia, and other non-government organizations to promote dialogue, awareness, education, and commitments. + + + + + +Center of Excellence - In support of all the above, Ansys will create a global "center of excellence" focused on sustainability pillars. This center will be dedicated to rapidly delivering our technology to the most impactful areas and tracking its effects. It will also consider recommendations for product roadmaps, training material creation, partnerships or acquisitions, and other projects that Ansys staff can drive in the context of sustainability. + + +Green Ansys - Ansys should be leading by example by exploiting our technologies and reducing our environmental impact as quickly as possible. Ansys also made an initial commitment to emissions reduction targets and has a global "Green Ansys" team that meets on a regular basis to explore additional ways we can reduce our carbon footprint across all aspects of our business. + + + + Clearly, we don't have all the answers, and this is a constantly evolving field. But we are energized by our first participation in COP27, and we hope that it represents a key moment in the history of Ansys. + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +ANSYS Inc. published this content on 09 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 January 2023 20:03:09 UTC. + + diff --git a/news/ANSS/2023.01.12/Ansys : Get an Overview of Electro-Optic Infrared Systems.txt b/news/ANSS/2023.01.12/Ansys : Get an Overview of Electro-Optic Infrared Systems.txt new file mode 100644 index 0000000000000000000000000000000000000000..4f94c138daf3a4098c3a8240f8066f9b93401800 --- /dev/null +++ b/news/ANSS/2023.01.12/Ansys : Get an Overview of Electro-Optic Infrared Systems.txt @@ -0,0 +1,108 @@ + + + + ANSYS BLOG + + + January 12, 2023 + + + + + Get an Overview of Electro-Optic Infrared Systems + + + + + Electro-optic infrared (EO/IR) systems are a type of sensor technology that uses a combination of optics and electronics to detect, track, and identify objects or targets in the infrared spectrum. EO/IR systems can be used for a variety of purposes, including target acquisition, tracking, and identification. + + + EO/IR systems operate in a variety of weather conditions and environments, including fog, rain, and smoke. This is because they rely on the detection of IR radiation, which is emitted by all objects with a temperature above absolute zero. IR radiation is invisible to the human eye but can be detected by specialized sensors called IR detectors. A main advantage of EO/IR systems is their ability to operate in low light or total darkness, making them ideal for use in a variety of situations where traditional optical sensors may not be effective. They are also highly accurate and can provide real-time data and images, making them a valuable tool for a wide range of applications. + + + + + EO/IR systems typically consist of three main components: + + + +IR detector: responsible for detecting the IR radiation emitted by a target and converting it into an electrical signal + + +Focusing lens: used to focus the IR radiation onto the IR detector + + +Display or imaging device: used to display the resulting image or data + + + + Electro-Optic Infrared System Design Challenges + + + + + There are several challenges that must be considered when designing EO/IR systems: + + + +Performance optimization: EO/IR systems must perform effectively in different weather conditions, at different times of day, and in different environments. + + +Size, weight, and power (SWaP) constraints: EO/IR systems are often used in applications where size, weight, and power are critical factors, such as on military aircraft or satellite platforms. + + +Cost: EO/IR systems can be expensive to develop and produce, so it is important to consider cost when designing these systems. + + +Complexity: EO/IR systems are complex, with many different components and subsystems that must be integrated and tested. + + +Manufacturing: EO/IR systems often require specialized manufacturing processes and techniques, which can be challenging to implement and control. + + + + These challenges must be carefully considered and addressed during the design process to ensure that the resulting system is reliable, effective, and cost effective. + + + + +The Ansys EO/IR Solution + + + + + To address these challenges, Ansys Lumerical, Ansys Zemax OpticStudio, Ansys Speos, Ansys AVxcelerate Sensors, and Ansys Systems Tool Kit (STK) provide a range of features and capabilities that enable designers to enhance the performance of EO/IR systems under different conditions and environments. These software tools provide accurate simulations and analysis of photonics and opto-electronic systems, satellite and aircraft systems, and optical systems, which enable designers to predict the performance of EO/IR systems in different environments and optimize their design for specific applications. + + + + Speos enables designers to analyze the performance of EO/IR systems under different weather conditions, such as fog, rain, and smoke, and to optimize the design of the system for specific applications. + + + STK enables designers to analyze the performance of EO/IR systems on satellite and aircraft platforms and to optimize the design of the system for these applications. + + + OpticStudio enables designers to optimize the design of EO/IR systems by analyzing the performance of optical components and predicting the behavior of the system in different environments. + + + + Join us on January 19 to learn how the Ansys optronics solution for EO/IR systems design provides the essential tools and capabilities that are necessary for the development and optimization of EO/IR systems. + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +ANSYS Inc. published this content on 12 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 January 2023 16:19:06 UTC. + + diff --git a/news/ANSS/2023.01.19/Ansys to Release Fourth Quarter and FY 2022 Earnings on February 22, 2023.txt b/news/ANSS/2023.01.19/Ansys to Release Fourth Quarter and FY 2022 Earnings on February 22, 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..0005872240c3525d482f1c6469fbb37ecdad1c54 --- /dev/null +++ b/news/ANSS/2023.01.19/Ansys to Release Fourth Quarter and FY 2022 Earnings on February 22, 2023.txt @@ -0,0 +1,39 @@ + + +PITTSBURGH, Jan. 19, 2023 /PRNewswire/ -- ANSYS, Inc. (NASDAQ: ANSS) announced today that the Company expects to release its fourth quarter and FY 2022 earnings on Wednesday, February 22, 2023, after the market closes. The Company will hold a conference call conducted by Ajei Gopal, president and chief executive officer and Nicole Anasenes, chief financial officer and senior vice president of finance at 8:30 a.m. Eastern Time on Thursday, February 23, 2023 to discuss fourth quarter and FY 2022 results and future outlook. + + + + + + + +CONFERENCE CALL INFORMATION: +What: Ansys Fourth Quarter and FY 2022 Earnings Conference CallWhen: February 23, 2023 at 8:30 a.m. Eastern Time +We encourage participants to pre-register for the conference call using the enclosed link.  Callers who pre-register will be given a unique PIN to gain immediate access to the call, bypassing the live operator. Participants may pre-register any time, including up to and after the call start time.  You will immediately receive an online confirmation, an email with the dial in number and a calendar invitation for the event. +To pre-register, go to: https://dpregister.com/sreg/10174181/f5727a11f6 +You may also register for the conference call on the investor section of our website at https://investors.ansys.com and clicking on Events & Presentations, then Events and clicking on the Webcast link or by clicking on Financials, then Quarterly Results and clicking on the Webcast link. +The following will be available on the investor section of our website at https://investors.ansys.com at or prior to the time of the conference call: a link to the live audio webcast of the call as well as the earnings press release and earnings prepared remarks.  +For those who do not have internet access or are unable to pre-register, simply join the call on the day of the event by dialing (855) 239-2942 (US) or (412) 542-4124 (CAN and INT'L).  Ask the operator to join you into the Ansys Conference Call.  +The call will be recorded with replay available within two hours after the call at https://investors.ansys.com or at (877) 344-7529 (US), (855) 669-9658 (toll-free Canada) or (412) 317-0088 (INT'L).  Access code: 3180704. +/ About AnsysWhen visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys. +Take a leap of certainty … with Ansys. +Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners. +ANSS–F +/ ContactsInvestors    +Kelsey DeBriyn                   +724.820.3927          +kelsey.debriyn@ansys.com +Media +Mary Kate Joyce +724.820.4368 +marykate.joyce@ansys.com +  +  +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/ansys-to-release-fourth-quarter-and-fy-2022-earnings-on-february-22-2023-301726316.html +SOURCE Ansys + + diff --git a/news/ANSS/2023.01.26/New Ansys 2023 Release Amplifies Product Design and Engineering Success for Customers A...txt b/news/ANSS/2023.01.26/New Ansys 2023 Release Amplifies Product Design and Engineering Success for Customers A...txt new file mode 100644 index 0000000000000000000000000000000000000000..e0c66d8744f78336a2c735edf40d2dbeeb8d18d5 --- /dev/null +++ b/news/ANSS/2023.01.26/New Ansys 2023 Release Amplifies Product Design and Engineering Success for Customers A...txt @@ -0,0 +1,51 @@ + + +Product development teams achieve more with new capabilities from Ansys +/ Key Highlights +With the newly launched Ansys 2023 R1, engineers can simulate more complex products faster than ever via new cloud options and optimized use of multiple graphics processing units (GPUs)The new release amplifies the benefits of simulation by supporting collaborative, model-based systems engineering (MBSE) workflowsExpanded integration of artificial intelligence/machine (AI/ML) and other advanced technologies boost efficiency and improve the user experiencePITTSBURGH, Jan. 26, 2023 /PRNewswire/ -- The software and service improvements in Ansys (NASDAQ: ANSS) 2023 R1 concentrate and amplify the incredible advantages that engineering simulation provides to multidisciplinary engineering and R&D teams. Ansys 2023 R1 enables organizations to accelerate past complexity and integration challenges to design the next generation of world-changing products by taking advantage of performance improvements, cross-discipline workflow integrations, and innovative capabilities. + + + + + + + +"Simulation enables design teams to advance in the right direction by quickly and confidently making decisions that define market leaders," said Shane Emswiler, vice president of products at Ansys. "Our latest advancements help engineers magnify their success through greater precision, streamlined workflows, and cloud scalability." +Enhance Simulation PerformanceThe Structures product collection delivers new features and capabilities that allow users to perform more predictively accurate, efficient, and customizable simulation analyses. For example, a new capability within Ansys® Mechanical™ enables users to leverage AI/ML to determine the computational spend and time required to run a simulation. +Ansys 2023 R1 also empowers users to run large, high-fidelity simulations more efficiently by overcoming hardware capacity limitations with high-performance computing (HPC) and by employing enhanced solver algorithms that take advantage of GPUs. +The full release of the multi-GPU solver in Ansys® Fluent® computational fluid dynamics (CFD) software unleashes the power of multiple GPUs for a broad spectrum of applications — substantially reducing solve time and total power consumption. This full release adds support for species transport, non-stiff reacting flows, and enhanced numeric for large eddy simulation (LES). +Ansys Gateway powered by AWS enables developers, designers, and engineers to manage their complete Ansys simulation and computer-aided design engineering (CAD/CAE) projects from anywhere on virtually any device via a web browser. The new release allows design teams to create or resize virtual machines and HPC clusters quickly, while streamlining access for teams via AWS cloud subscriptions and flexible single sign-on features for access to company environments. +Integrate and Automate WorkflowsAnsys 2023 R1 also builds on the capabilities of materials, simulation process and data management (SPDM), optimization, and MBSE to improve engineering efficiency by supporting intelligent workflow automation and collaboration. The Ansys Connect product collection boasts user experience improvements, new integrations, and ease-of-use features to connect the latest processes, tools, and data more readily for different engineering teams. +"We believe that the integration of Ansys simulation tools and MBSE gives us visibility into the entire design process, reducing development costs, improving engineering efficiency, driving innovation, and designing competitive products," said Takeo Hashimoto, general manager of the MBSE Design Center at Hitachi Industry & Control Solutions. "With Ansys tools and Hitachi Industry & Control Solutions' MBSE-focused engineering, we will support autonomous development in the automotive field and help customers solve their manufacturing issues in a more connected society." +Engineers can boost efficiency faster with "one-click" Ansys® optiSLang™ optimization of simulation toolchains to perform design studies that enable engineers to quickly explore optimal designs. Those same optimization algorithms run trade studies for MBSE in Ansys ModelCenter. Fluent users can also use optimizations from optiSLang along with smarter collaboration and data management using Ansys Minerva's SPDM solution. +Innovate Across the Product Development ProcessIn semiconductors, Ansys continues to deliver 3D-IC multiphysics leadership with Ansys® RedHawk-SC™ and RedHawk-SC Electrothermal included in TSMC's 3Dblox™ Reference Flow for power integrity, signal integrity, and thermal reliability signoff. A new thermal analysis methodology for RedHawk-SC Electrothermal uses half as much memory so that complex designs can be handled more efficiently. New performance and predictive accuracy improvements are obtained with updated RTL power predictability in Ansys® PowerArtist™. A 30% reduction in RedHawk-SC's database size enables engineers to solve complex designs more efficiently, and 2X faster transient simulations in RedHawk-SC speed time to solution. +Ansys® Granta™ features material eco-data and tools that are now available on the cloud, which help optimize material selection for more cost-effective, sustainable products. +In the Ansys Electronics collection, users can accelerate finite-sized antenna array simulations by adapting individual 3D component cells in parallel. This remarkable technology is unmatched in the industry and will empower organizations designing antennas for satellite communications, automotive radar, and aerospace applications. +"Kymeta develops exciting and innovative product offerings in our pursuit of global satellite and cellular broadband communications on the move, and Ansys plays a key role in enabling technology introduction of new antenna and mechanical hardware ranging from microelectronics to thermomechanical structures," said Paul Klassen, vice president of engineering at Kymeta. "We use the extensive toolset in Mechanical, Fluent, and HFSS to explore optimal designs, and are incorporating Granta and Sherlock into our product development process while optimizing designs for harsh vibration and thermal environments in industrial, commercial, and consumer applications." +To learn more about Ansys 2023 R1, please visit: ansys.com/products/release-highlights. +/ About Ansys +When visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys. +Take a leap of certainty … with Ansys. +Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners. +ANSS-T +/ Contacts +Media        +Mary Kate Joyce +724.820.4368 +marykate.joyce@ansys.com  +Investors      +Kelsey DeBriyn +724.820.3927 +kelsey.debriyn@ansys.com  +  + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/new-ansys-2023-release-amplifies-product-design-and-engineering-success-for-customers-across-industries-301731495.html +SOURCE Ansys + + diff --git a/news/ANSS/2023.01.27/Special Interview : Aviation Update Editor Kartikeya In conversation with Mr. Aniruddha Mu...txt b/news/ANSS/2023.01.27/Special Interview : Aviation Update Editor Kartikeya In conversation with Mr. Aniruddha Mu...txt new file mode 100644 index 0000000000000000000000000000000000000000..aa084701b814ea5f8ac4a95ba7ce46007e70ecb6 --- /dev/null +++ b/news/ANSS/2023.01.27/Special Interview : Aviation Update Editor Kartikeya In conversation with Mr. Aniruddha Mu...txt @@ -0,0 +1 @@ +Q. What changes have you implemented since your appointment?A. In my role as Ansys Fellow and Lead Field Chief Technologist, I represent a unique capacity and access to bi-directional long-term trends in technology between global businesses and the Ansys team. Demystifying digital transformation specific to individual customers is a critical step to our sustained long-term relationship and mutual success. This demands continuous focus on the available technologies and the adoption threshold as well as the capacity of our individual customers who are often driven by the vision of their executives. So, aligning with key executives, both in government establishments and private/public enterprises was a key starting point.We are also deeply focused on an adaptable ecosystem with Ansys and non-Ansys toolchains to enable customers from startups to government enterprises in establishing and executing their own Model-Based Systems Engineering roadmap. In our journey, we ensured clear visibility for our customers about their foreseeable needs and gains for model-based approaches from requirement analysis to final product delivery, operations, and services till the end of life. A key difference we established compared to any other current or previous approaches is the open collaboration paradigm through our open-sourced, publicly hosted APIs for all our capabilities. For customers, this is a key enabler of change management. It is also non-disruptive as it can support current practices to mature into future digitally smart practices while creating and maintaining full access and control of internal and supply-chain data.Q. India is gradually emerging as the fastest growing country in Aviation, Defense, Space, and Drones. What kind of opportunities do engineering simulation software companies like Ansys expect to come by?A. Ansys is engaged globally with many corporations in different industries. We recognize the variations in the utilization capacity of our customers. Accordingly, we serve the needs from startups to the global enterprises. While momentum in any of the areas you mentioned, namely, Aviation, Defense, Space, Electronics, Drones, Electric and Autonomous vehicles are fast picking up speed in India, globally these are active businesses and Ansys had been supporting these global innovators for more than two decades now. I welcome anyone to peruse the Ansys Advantage articles on these topics as available online. With quite mature set of solutions for these industries and related applications, we are poised to participate in this journey of the Indian innovators both in public and private sectors within the framework of accelerated development and scaling with digital engineering.For aviation, defense, and drones, the main areas of Ansys’ impact are around system design and verification, electronics-related new technologies like 5G/6G digital design, optimization, verification, and safety-critical software including functional safety and cyber-security. Additionally, the defense sector needs digital mission engineering, operational planning, and mission assurance. Ansys has an industry-leading set of capabilities that are proven repeatedly in space and defense programs over the last few decades and are currently being extended with newer technologies like hydrogen propulsion, 6G, 3D ICs, SAR, ISAR, along with space technologies like orbital determination, space situational awareness, debris management, active threat detection and avoidance, and related advanced techniques.Q. The Indian manufacturing sector is part of a global supply chain and nowadays, we talk about Atmanirbhar or self-reliance. What are the challenges faced by the Industry and opportunities available for Ansys?A. India is making rapid progress in the Atmanirbhar or self-reliance initiative set by the Government of India. As we all know, self-reliance in Defense is being targeted through Make in India 1.0 & 2.0 initiatives, the cross-links to Electronics Systems, Communication, Information Technology as well as Skill Development / Education are very important. India’s defense sector also continues to pursue growth with new partnerships and collaborations with various global OEM companies that would like to co-create along with Indian companies. Self-reliance is driven by many different companies – ranging from government-owned defense labs & companies to academics & startups. Each one of them faces unique challenges in innovation and design.There are distinct challenges in Space and Defense sectors. India has launched successful space missions including mission to Mars and the Moon. An important need now is to scale the program which will require public-private partnership.Defense programs on other hand aim to bring self-reliance in technology and products. A simultaneous development of NTI (New technology Introduction) and NPI (New product introduction) requires a change in the paradigm of the product development process.Another challenge for A&D is to keep up with global regulations, upcoming sustainability requirements and shared technology development. Many of the bi- and multi-national treaties play significant roles in promoting or deterring overall progress.Academic programs in Tier-1, 2 and 3 in India have some scope to further boost skill development needed for the accelerated development in the aerospace and defense industries indigenous development needs.Discussing the opportunities, globally speaking, many large and small aerospace and defense players have been Ansys customers for more than two decades. The applications span all physics, software, safety, and compliance domains. These on the one hand provide Ansys with the ability to increase knowledge and value for the customers, and on the other hand, remain an impetus for technology acquisition and growth for Ansys.Several critical areas where Ansys can help this industry in India are essentially geared toward leapfrogging into the future rather than reinventing all the steps that other nations had to go through on their way to learning. Let’s list some examples of these technology areas to prioritize on:Propulsion systems design and validation, A&D and space communication technologies, Imagery and detection systems design and validation, Digital operation and mission planning and engineering, Functional safety and cybersecurity Critical software applications, Hierarchical system design, performance, cost and , verification, , and finally, Skill development for sustained scalable development efforts.In fact, in most of these areas, our current footprint with the Government Labs and OEMs are well aligned and rapidly evolving based on the capacity to absorb and utilize the veracity of our capabilities. For example, our engagements with the EU and Airbus on formation flights and autonomy are currently in the exploratory level of engagement in India. However, we are aware of private startups that are both active and interested in this state-of-the-art technology. This is a rich area for AI-ML driven development and verification of systems.Q. What are some near future goals within India A&D industry that you are targeting for Ansys?A. Our key goals are aligned with the industry requirements and occasionally, we enable the market-specific solutions to meet the evolution of the ecosystem. In India, alongside of design and verification, government is promoting private sectors’ participation in other areas, for example, manufacturing, virtualization, new technology development etc.Aviation, Space, Defense and Drones: A sector highly dominated by continuous needs and application of new technologies from propulsion, electronics, controls, and software. All these are longstanding, world-leading solutions from Ansys used by all industry players globally. Apart from capabilities, Ansys is distinct in this space actively promoting collaboration with technology tools as substantiated by our open APIs on GitHub and support forum for this API ecosystem. We are a simulation leader and highly focused on unparalleled capabilities along with managing the modeling and simulation environments, process, and data, including custom reporting for decision support. In this industry segment we have demonstrated to both Space and Defense communities our ability to bring the latest 5G technologies in accelerating next-generation radar technologies like SAR and ISAR. We also enabled some defense laboratories to accelerate operational environment testing by virtualizing the so-called concepts of operation and mission engineering on computers along with the working models of their hardware in the loop.Q. Can you throw some light on Ansys contribution to the development of skill capabilities in India?A. I already touched upon this earlier. This is a very relevant question and an area that we focus on quite proactively. First, the current generation entering the job market, had been used to touch-screen technology since their childhood and expects the most useful and accessible technologies to inherit such user experience. Moreover, the implied expectation is learning-on-the-go and not so much traditional classroom teaching. Similarly, as laptops are becoming more powerful and cloud access from any user-machine is effortless, customers expect to utilize our technology in a ubiquitous environment with no major effort on their part. To meet such expectations at scale, Ansys has globally established what we call Ansys Learning Hub (ALH). ALH provides just-in-time content as well as all traditional classroom-type training content delivered both on demand as well as on schedule with and without tutors. We also provide customer-specific training rooms and content within the ALH framework. These are all customer-centric. We also have an elaborate forum for academic communities with special attention to partner universities and institutes. In India, we are also building specific skill development hubs as Center of Excellence with Universities. On December 14, 2022, honorable minister, Shree Rajeev Chandrasekhar, virtually inaugurated the IEEE-Ansys Center for Skill Development for Radio Frequency and Microwave in Bengaluru and also launched the Ansys Innovation Space (AIS) portal that provide virtual courses developed by Industry Experts.AIS provides four distinct value propositions: Learning new skills, Certification for job searches, finding answers to technical questions, and learning technology and industry trends. We are collaborating with similar organizations to expand our regional outreach for scalable skill development in India. Additionally, we provide a host of free courses to modeling and simulation enthusiasts and practitioners of all maturity levels through the portal: https://courses. ansys.com/. We also continue to support many student competitions that are targeted to help students develop design and manufacturing skills. Ansys has also established a Center of Excellence at MKSSS’ Cummins College of Engineering for Women and at Hindustan Management Academy. Lastly, we continue to work with many scientific and industry bodies such as IEEE, SAEIndia Aerospace to deliver advanced training programs through workshops, webinars, and seminars.Q. Is your customer innovation and design acceleration vision resonating well for India customers and industry?A. Indeed, we are very pleased with the industries’ responses to our initiatives. There is a palpable acknowledgement that our approach, our readiness, and our vision align with both individual company’s and the government vision, plan and needs of the day and into the future. As a matter fact, we are described by many in decision-making roles as trend-setters and that leadership of Ansys in Modeling, Simulation, and Analysis domain is quite recognizable. We are invited to the key notes, plenary sessions, and special events to share our thoughts, vision, and progress routinely in forums like IEEE, SAE, CII, University forums, and conferences. In terms of business, and our internal metrics, a continued paradigm shift is very visible. We are very much excited to partner with Indian Space & Defense industry in this transformative journey.Copyright 2023 Future Aviation Media Pvt Ltd, distributed by Contify.com, source Contify News \ No newline at end of file diff --git a/news/ANSS/2023.02.09/Ansys Expands Cloud-Based Simulation Solutions Through Extended Collaboration with Micr...txt b/news/ANSS/2023.02.09/Ansys Expands Cloud-Based Simulation Solutions Through Extended Collaboration with Micr...txt new file mode 100644 index 0000000000000000000000000000000000000000..45837bafc518634a082df16327be0e2785a6f3f6 --- /dev/null +++ b/news/ANSS/2023.02.09/Ansys Expands Cloud-Based Simulation Solutions Through Extended Collaboration with Micr...txt @@ -0,0 +1,44 @@ + + +Ansys advances availability of Ansys' simulation solutions in the cloud with Ansys Access on Microsoft Azure +/ Key Highlights +Ansys expands long-term collaboration with Microsoft to increase availability of Ansys' simulation solutions and tools on the Microsoft Azure cloud-computing platform, providing customers with browser-based, location-independent accessAnsys Access on Microsoft Azure will deliver extensive benefits to Ansys customers, including improved, cost-effective HPC in the cloud to provide the scale required to meet today's most difficult engineering challengesThe extended collaboration with Microsoft deepens Ansys' commitment to provide simple, cloud-based access to advanced simulation solutions in areas like advanced communications, electrification, and sustainabilityPITTSBURGH, Feb. 9, 2023 /PRNewswire/ -- Ansys (NASDAQ: ANSS) is extending its long-term strategic collaboration with Microsoft to accelerate virtual product design through expanded cloud-based access to Ansys' simulation solutions and computer-aided engineering (CAE) tools. As a next step, Ansys will develop a new offering that will enable customers to launch Ansys products using their Azure enrollment and connect third-party tools more easily. + + + + + + + +As an integral component of the collaboration, Ansys will expand its go-to-market strategy with Microsoft, including digital twins connected to the internet of things, autonomous driving and flying systems development, and the use of simulation data to train artificial intelligence/machine learning (AI/ML) systems. Mutual customers who migrate to the cloud can increase productivity, reduce in-house technology costs, and improve virtual collaboration. +Ansys Access on Microsoft Azure will be a new offering available on the Azure Marketplace that will provide an alternative to Ansys' current managed cloud offering, Ansys Cloud Direct, which also runs on Azure. This new offering will enable customers to use their existing Ansys applications along with Azure services purchased directly from Microsoft to deliver cost-savings and improved data management as well as greater flexibility. The addition of Ansys Access on Microsoft Azure to Ansys' current cloud offerings will allow customers to choose the most effective method to realize the benefits of cloud-based simulation for their organizations. +Beyond cloud collaboration, Ansys is also working to integrate Microsoft 365 capabilities into the context of its engineering simulation tools to aid in the highly collaborative process of product design. +"Ansys Access on Microsoft Azure will enhance the development and design processes of our mutual customers through increased productivity, sharper workflows, and greater access to cloud-based CAE tools," said Shane Emswiler, senior vice president of products at Ansys. "By pairing Ansys' industry-leading simulation solutions with Azure, customers can innovate at scale in a virtual environment without compromising design accuracy or product integrity." +"Our continued collaboration connects the cloud computing capabilities of Microsoft Azure with Ansys' advanced simulation solutions to better enable virtual design and innovation worldwide," said Kurt Niebuhr, Principal PDM Manager at Microsoft. "In a time when digital solutions are needed more than ever, our collaboration enables us to provide engineers and innovators with cloud-based tools that meet and exceed their needs." +/ About Ansys +When visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled +innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys. +Take a leap of certainty … with Ansys. +Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners. +ANSS–T +/ Contacts +Media +Mary Kate Joyce +724.820.4368 +marykate.joyce@ansys.com  +Investors +Kelsey DeBriyn +724.820.3927 +kelsey.debriyn@ansys.com  +  + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/ansys-expands-cloud-based-simulation-solutions-through-extended-collaboration-with-microsoft-301742814.html +SOURCE Ansys + + diff --git a/news/ANSS/2023.02.21/How to spot Red Flags?.txt b/news/ANSS/2023.02.21/How to spot Red Flags?.txt new file mode 100644 index 0000000000000000000000000000000000000000..958820a8eaff71ee53d4ccd70f3cec833e3338c4 --- /dev/null +++ b/news/ANSS/2023.02.21/How to spot Red Flags?.txt @@ -0,0 +1,134 @@ + +A red flag does not necessarily mean that there is a fraud or a scandal to be expected. It's simply something that needs to be watched. The problem is when they accumulate. These red flags should be understood as warnings: the more they multiply during the study of a company, the more the risks of a possible permanent loss of capital - if you decide to invest in this file anyway - intensify.  +  +Investors should therefore perform due diligence, i.e. a thorough and systematic analysis of the documents and information available to shareholders to ensure that there are no irregularities and that the company is financially sound, in order to reduce the possible risks associated with the investment.  +  +Looking for red flags is an integral part of the job of a professional financial analyst, but it can also be extremely useful for any conscientious investor looking to avoid bad companies and maximize their returns. In this article, we will learn about the 12 main types of red flags that can be spotted and then we will study a detailed case study with a listed stock.  +  +Part 1: The 12 main types of red flags +  +A lack of transparency  +  +Let's start with a common characteristic of any shady company that doesn't want anyone to look into its accounts. Lack of transparency is an overall perception when reading financial statements. This can take the form of an omission of additional information that could have been useful, the use of allusive or roundabout vocabulary, the unnecessary complexity of a document or data presentation, or the systematic placing in footnotes of all information that could be perceived as negative by the investor. Most of the time, nothing is illegal, but we have this feeling that information is difficult to obtain. This is a first warning sign. It should invite us to dig deeper into the subject.  +  +Unproven (or unprovable) competitive advantages  +  +The company boasts about a lot of things but without really proving anything. It describes itself as more efficient, employing the best engineers, offering the fastest solutions. But when you look for the facts behind the claims: que tchi, nada, zilch. There is simply no proof. So of course, an investor presentation is spun in a way that appeals to its readership, but when you can't find any evidence, chances are it's all just talk.  +  +The company is burning cash and not generating free cash flow  +  +Stable cash flow is a sign of a healthy, thriving business, while large fluctuations in cash flow can signal that a company is in trouble. But it gets worse: when the evolution of free cash flow (FCF) does not follow the evolution of turnover at all. When the FCF is negative, it means that the company is burning cash. It will therefore need to finance itself sooner or later if it does not manage to turn the tide and go into the black. In this case, the company can refinance itself with debt or equity. In any case, this is a bad sign for the shareholder. Indeed, either the balance sheet situation of the company risks to deteriorate soon and its stock market valuation will drop to take into account this deterioration of the fundamentals, or the issue of shares will dilute the shareholder and the share will drop to readjust to the initial market capitalization.  +  +(Overly) promising results  +  +The company tends to promise much. The growth forecasts are gargantuan. But when you look at previous earnings releases, the company struggles to deliver on these overly optimistic forecasts. Announcements regularly disappoint and the promise of a year of finally creating shareholder value fades as the disenchantment of a bright future fades.  +  +A history of dilution  +  +Dilution is what happens when an ownership interest in a company is reduced due to a new share issue or the exercise of stock options. Each time a company issues new shares, it results in a smaller share of ownership for the shareholders. In effect, more shares in the hands of more people means that each holder of existing common stock owns a smaller or diluted percentage of the company. Some companies tend to abuse the issuance of shares. So it's essential to consider this parameter when analyzing a stock. Look at the evolution of the number of shares over the last few years, avoid companies that dilute their shareholders too much and favor companies that buy back their own shares.  +  +OCABSAs  +  +In the same line as share dilution, the company can find alternative financing methods if it no longer has access to loans. This is where the OCABSA come into play. This is a structured product that combines bonds convertible into shares (OCA), with a short maturity (less than three years) and warrants to subscribe for shares (BSA). They are most often issued by companies that no longer have access to credit, are not able to increase their capital under good conditions, or do not offer reassuring prospects for their development. Few companies that enter into this trap come out unscathed. We often speak of OCABSA but other dilutive instruments exist (ORNANE, BEOCEANE, ABSA, OCEANE/BSA, ODIRNANE, etc). The shareholder loses his feathers almost every time. When you see this kind of thing, it is better to run away.  +  +No or few insiders in the capital  +  +If this company is so great and the stock has so much potential, why aren't the key stakeholders buying shares? This is a question you need to ask yourself. Do you want to invest with a "skin in the game" management, who is up to his neck in his entrepreneurial project, who wants, just like you, the business to flourish and the stock to rise because that's how he makes his money? Or do you want to invest in a company owned by institutional investors and index managers who have little regard for the practices of the management, which itself pays itself a large salary that does not depend on the share price? Choose your side, but remember that incentives are often highly correlated with results. As Charlie Munger said: "Show me the incentive, and I will show you the outcome".  +  +Massive insider selling  +  +When you look at the latest insider deals, if you see massive sales from the executive team (CEO, CFO, COO, VP, Director, etc.), it is usually not good news. So there are many reasons to sell a stock. The CEO may exercise call options and then resell the stock to compensate himself. The CFO may need to diversify his or her personal investments so as not to "put all his or her eggs in one basket. The vice-chairman of the board of directors simply sells some shares to finance the renovation of his house and, in passing, to build a new swimming pool in his second home. Why not! But it can also be because insiders have privileged information or observe a slowdown in activity. They prefer to cash in some gains and come back to the stock later. There is always a good reason to sell stocks. However, when you have the wind at your back, with a committed management that strongly believes in its entrepreneurial project and continues to invest its own money because it sees the long-term potential, it is still more reassuring.  +  +A CEO out of nowhere  +  +This is a phenomenon that has accelerated in recent years, especially since the advent of SPACs and other "empty shell" investment vehicles. Some executives have gone from CEO of a SaaS software company in Silicon Valley to CEO of a mining company in southern Montana out of nowhere. Others have wacky backgrounds that don't give a sense of expertise in a business area. How can you be an expert in a field of endeavor after only two years in an industry? Some things take time, like building expertise. On the contrary, it's nice to invest in a company where the current CEO has worked hard for many years (or even decades), spending time with major competitors to understand their environment and then working his way up the corporate ladder.  +  +High salaries  +  +Another indicator that the company is a "cash pig" for its management is when the salaries are far too high compared to the turnover and the net result generated. As we will see in "Part 2: Case study", some managers go as far as paying themselves a salary equivalent to 10% of the turnover, that's simply enormous. How do you expect the company to have good profit margins if 10% of the turnover is used to pay the CEO? In a healthy company, salaries are balanced in relation to the value created and there is enough cash left over to invest in organic growth, make targeted acquisitions, carry out share buybacks or pay a dividend to shareholders.  +  +SBC's in spades  +  +This due diligence goes hand in hand with the study of salaries and other benefits paid to executives. SBC for Stock Based Compensation is a variable remuneration in the form of shares for employees, directors or executives. This includes stock payouts, stock options, phantom shares, restricted stock units or employee stock ownership plans. Like the issuance of shares or OCABSAs, this dilutes existing shareholders. It is not alarming to see them, they exist in most large listed companies. The important thing is the proportion they take in relation to the cash flow profile, the minimum holding period imposed on holders (usually several years) and the behavior of the latter (do they systematically sell or not).  +  +A feeling of "too good to be true " +  +When reading the financial statements, you have the feeling that you have stumbled upon a five-legged sheep. The company has everything going for it: it is profitable, in good financial health, showing sustained growth, the management seems competent and the stock is paying a discount. It seems almost too good to be true. How is it that no one has seen this bargain, or rather, this anomaly in the financial markets? And then you say to yourself: "So the markets are inefficient, I have tangible proof of this right in front of me".  +  +But what if it really is too good to be true? If the market gives a modest valuation to a stock, there is surely a good reason for it that you may not have seen. Is the company positioned in a very cyclical business? Is it at the top of the cycle? Is a slowdown in activity to be expected in the coming quarters? Or perhaps it is due to the company's positioning in its market: does the company have little bargaining power with its customers or suppliers? The products or services it offers are in the process of being disrupted? The company is undergoing a regulatory shock or is subject to regulation? Its business model is very capitalist? The company is facing a financing or management problem? A scandal is about to break? Who knows? There are many factors that can enter into the equation and you may have missed some.  +  +Look at the big picture. Would you invest in this company with your eyes closed if you couldn't sell your shares for the next ten years? If the answer is no, reconsider your enthusiasm.  +Here is a summary of the 12 main types of red flags: + +I invite you not to duly believe the words of leaders and the flattering comments of observers, but instead to go deep into the information for yourself. Independent thinking is essential in this world where information is a weapon of mass concealment. You must dig, dig and use all (legal) means at your disposal to gather information in order to form a solid, constructed opinion. This is especially true when you are investing in individual stocks in poorly regulated markets or in small companies with little analyst coverage.  +  +Part 2: Case Study  +  +Now that you know the main points to watch out for when looking at a company, you'll have to move on to the next step: the case study.  +  +This example of a company we're going to break down is a perfect example of what we often see in the markets: "a promise of a wonderful future that rings a little hollow".  +  +Pointerra Limited (3DP) is a small Australian company with a market capitalization of just under $100 million as of this writing. The company provides a data-as-a-service (DaaS) solution for managing, working with, analyzing and sharing three-dimensional (3D) data sets.  +  +The company's cloud platform, Pointerra3D, is an end-to-end solution that stores, processes, manages, analyzes, extracts, visualizes and shares key information from 3D data. The company also offers real-time web visualization tools to access data from any device and any location. +  +The applications of its tools are obvious and extremely useful for many sectors such as engineering, architecture, infrastructure management, defense or commerce. This specialist in 3D visualization and digital twins (digital replica of an object) addresses markets in structural growth.  +  +This precise 3D mapping can be used as a platform to manage a fleet of robots (such as Amazon's warehouses with which Pointerra has a pilot project on 200 sites in the United States and Europe) or to manage electrical infrastructures (such as with the high voltage lines of FPL (Florida Power & Light Company), the main subsidiary of Nextera Energy with which Pointerra has a contract).  +  +In short, the company is in a trendy sector, uses a plethora of keywords (3D mapping, cloud platform, virtual twin, etc.) and presents itself as an agile solution and the fastest on the market. The pitch is well-tuned and an inattentive investor could easily fall for it after reading their well-polished presentation.  + +Source : Investor presentation 2022 +We are going to go a little deeper and deconstruct the substance of Pointerra in order to identify potential "red flags" on this share.  +  + +Red Flag #1 : First of all, what is surprising is the apparent lack of transparency. As an analyst, when I study a company, I prefer when information (positive or negative) is easily available and expressed in clear terms. First, it makes my job easier. And second, it makes me feel more confident. Here, Pointerra uses the ACV metric for "annual contract value". A curious term, which can be explained in the case of a SaaS business, but which hides unverifiable data. Then, we notice that the most interesting information is in the footnotes. Here is what you can find when you look in the "fine print": 10% of the turnover comes from an R&D tax credit (the Australian equivalent of our research credit). Of course, the company does not brag about it in the headlines, you have to look in the footnotes. Do you want to invest in a company where about 10% of the turnover comes from a government grant?  +Red Flag #2: Despite LCA's meteoric growth, the company is burning cash, not generating Free Cash Flow (FCF) and its expenses are accelerating. Growth is good, but if it's profitable, it's better. This real and rapidly growing cash-burn will surely not allow the company to survive another 18 months without a capital increase, and thus a potential dilution for the current shareholder. In fact, over its last six fiscal years in operation, we observe that the company has burned through AUD 12.5 million, and unsurprisingly, this is in line with the AUD 12 million it has raised in equity over the same period.  + + +Source : Investor presentation 2022 + +Red Flag #3: The Australian company announces that it has the fastest solution available on the market. Faster than Ansys or Dassault Systèmes (to name but two), while the means and reputation of these competitors are no longer to be demonstrated. When you look at the technical team on LinkedIn, it is tiny (barely 10 full-time engineers). How could this small team of engineers compete with the global giants of 3D visualization with a faster solution? This is a source of amazement to me. Especially since the growth of 2022 is almost entirely due to a pilot project with an American energy company (FPL mentioned earlier in the article). Only one big customer for the fastest solution in the world, surprising that customers are not yet convinced.  + +  + +Red Flag #4: Let's look at compensation this time. And not surprisingly, the salaries of the management team are (very) high for a small-cap with less than $100 million in market capitalization and $10 million in revenue in 2022. The CEO, Ian Olson, is paid $492,255 per year all in cash, or 5% of the company's revenue. This is what we call value capture!  + + +Source : Annual report 2022 + +Red Flag #5 : There is a classic incentive program in Australia which allows the management to borrow from the company at a rate of 0.4% to buy shares of the company at $0.03 and to sell them potentially at $0.06. The management has used it well. In short, there are many signs that the management is getting paid handsomely at the expense of shareholders.  + + +Source : Annual report 2022 + +Red Flag #6 : In the accounts, the details of the SBC (stock based compensation) do not appear in the cash flow statements. The SBC are classified under the catch-all name of "share based payments" much further down in the annual report. This is not a very elegant practice when one considers that SBCs represent almost one third of EBITDA (gross operating profit).  + + +Source : Annual report 2022 + +Source : Annual report 2022 + +Red Flag #7: To keep the momentum going, there are 17 million options up in the air with a strike at $0.07 per share. This clearly doesn't foreshadow any incentive for management, who are going to take money no matter what happens to the company's trajectory in the coming quarters.  + + + + +Source : Annual report 2022 + +Red Flag #8: We then observe a provision for bad debt of AUD 437,497 in 2022. In other words, 5% of the 2022 revenue (excluding tax credits) is set aside as a provision because it appears to have been earned from insolvent or non-paying customers. All this seems abnormally high. It also allows the company to potentially juggle cash flow artificially since the provisions are a non-cash item.  + + + + +Source : Annual report 2022 + +Red Flag #9: Finally, the ninth and last "red flag" identified here: the latest Q1 2023 release. Like a nail in the coffin, this last one announces billing delays and delayed projects in the US with an impact on the "cash collection". Surprising for a supposedly SaaS business where normally the customer pays in advance to access the services.  + + +Source : Quarterly Activities/Appendix 4C Cash Flow Report 01/31/2023 +To go further, I have put the links, documents and corresponding pages so that you can check for yourself and trace the path when looking for potential anomalies on a company.  +  +As you can guess, all this does not inspire much confidence. And even if the turnover continues to grow in the next few years, do you want to invest in this kind of company? Maybe Pointerra will improve its current situation and turn out to be a good investment, but in the meantime, there is a lot of risk. When we want to become long-term shareholders of a company and therefore partners with the management team, we have to trust them because it is our savings that they have in their hands.  +  +Identifying potential red flags is part of an investor's job. Unfortunately, not all investors take the time to thoroughly study a company's financial statements before investing in it. I invite you to think for yourself and to do this work, which certainly takes time, but will allow you to avoid big mistakes and to eventually identify the most qualitative companies.  diff --git a/news/ANSS/2023.02.22/Ansys : Q4 Earnings Snapshot.txt b/news/ANSS/2023.02.22/Ansys : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..746c6a815ff9ab8a2e5f6f12fdc2b3d42fdff52b --- /dev/null +++ b/news/ANSS/2023.02.22/Ansys : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +CANONSBURG, Pa. (AP) — CANONSBURG, Pa. (AP) — Ansys Inc. (ANSS) on Wednesday reported fourth-quarter earnings of $257.9 million.On a per-share basis, the Canonsburg, Pennsylvania-based company said it had profit of $2.95. Earnings, adjusted for one-time gains and costs, came to $3.09 per share.The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.79 per share.The maker of engineering-simulation software posted revenue of $694.1 million in the period. Its adjusted revenue was $694.7 million, which also beat Street forecasts. Six analysts surveyed by Zacks expected $646.4 million.For the year, the company reported profit of $523.7 million, or $5.99 per share. Revenue was reported as $2.07 billion.For the current quarter ending in March, Ansys expects its per-share earnings to range from $1.53 to $1.71. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.95.The company said it expects revenue in the range of $482.5 million to $507.5 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $671.6 million.Ansys expects full-year earnings in the range of $8.34 to $8.86 per share, with revenue ranging from $2.24 billion to $2.32 billion.Ansys shares have increased 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $266.78, a fall of 12% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ANSS at https://www.zacks.com/ap/ANSSFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/ANSS/2023.02.22/Ansys Announces Financial Results With Record Q4 and FY 2022 ACV, Revenue, Diluted EPS ...txt b/news/ANSS/2023.02.22/Ansys Announces Financial Results With Record Q4 and FY 2022 ACV, Revenue, Diluted EPS ...txt new file mode 100644 index 0000000000000000000000000000000000000000..78b0a70a62da5fca2c410483d7d209429daa9e67 --- /dev/null +++ b/news/ANSS/2023.02.22/Ansys Announces Financial Results With Record Q4 and FY 2022 ACV, Revenue, Diluted EPS ...txt @@ -0,0 +1 @@ +Initiates Q1 and FY 2023 OutlookDetails related to our financial guidance, including assumptions, are included in our prepared remarks document./ Key Highlights - Q4 2022/ Key Highlights - FY 2022PITTSBURGH, Feb. 22, 2023 (GLOBE NEWSWIRE) -- ANSYS, Inc. (NASDAQ: ANSS), today reported fourth quarter 2022 GAAP and non-GAAP revenue growth of 6% and 5% in reported currency, respectively, or 11% and 10% in constant currency, respectively, when compared to the fourth quarter of 2021. For FY 2022, GAAP and non-GAAP revenue growth was 8% and 7% in reported currency, respectively, or 14% and 13% in constant currency, respectively, when compared to FY 2021. For the fourth quarter of 2022, the Company reported diluted earnings per share of $2.95 and $3.09 on a GAAP and non-GAAP basis, respectively, compared to $2.30 and $2.81 on a GAAP and non-GAAP basis, respectively, for the fourth quarter of 2021. For FY 2022, the Company reported diluted earnings per share of $5.99 and $7.99 on a GAAP and non-GAAP basis, respectively, compared to $5.16 and $7.37 on a GAAP and non-GAAP basis, respectively, for FY 2021. Additionally, the Company reported fourth quarter and FY 2022 ACV growth of 8% and 9% in reported currency, respectively, and 13% and 14% in constant currency, respectively.“2022 was an outstanding year for Ansys. Our focus on customer success, product leadership and execution drove double-digit constant currency ACV and revenue growth for the fourth quarter and full year. Our excellent performance is evidence of the significant value that our best-in-class multiphysics product portfolio delivers to our customers as well as the immense opportunity that lies ahead of Ansys,” said Ajei Gopal, Ansys president and CEO. “Our customers continue to rely on Ansys simulation to drive innovation across their next-generation products. We recently released the latest version of our portfolio, which is helping users to bring smarter, more sustainable products to market faster and at lower costs.”Gopal further stated, “I am also proud to say that we achieved over $2.0 billion in ACV in 2022, which exceeds the 2022 ACV target outlined at our 2019 investor day. We did this despite a global pandemic, the war in Ukraine and trade sanctions, that made for a challenging and volatile macroeconomic environment with unprecedented foreign exchange headwinds. Looking ahead to 2023 and beyond, I am confident in our ability to continue to meet the 2025 goals we outlined in our investor update last August.”Nicole Anasenes, Ansys CFO, stated, “Q4 concluded another excellent year and demonstrated the strength and resilience of our business model against a backdrop of consistent customer demand for simulation and exceptional execution by the Ansys team. We exceeded our financial guidance across all key metrics for the quarter and the full year. With strong, consistent growth throughout 2022, ACV and non-GAAP revenue grew 14% and 13% in constant currency, respectively, on a full-year basis. In FY 2022, we saw broad-based growth across geographies, industries and customer types. We are entering 2023 with momentum and a robust pipeline and backlog, which gives us continued confidence in achieving our long-term outlook of 12% ACV CAGR and $3.0 billion of unlevered operating cash flow from 2022-2025.”The non-GAAP financial results highlighted, and the non-GAAP financial outlook for 2023 discussed below, represent non-GAAP financial measures. Reconciliations of these measures to the appropriate GAAP measures, for the three and twelve months ended December 31, 2022 and 2021, and for the 2023 financial outlook, can be found later in this release./ Financial ResultsAnsys' fourth quarter and FY 2022 and 2021 financial results are presented below. The 2022 and 2021 non-GAAP results exclude the income statement effects of the acquisition accounting adjustments to deferred revenue from business combinations closed prior to 2022, stock-based compensation, excess payroll taxes related to stock-based compensation, amortization of acquired intangible assets, expenses related to business combinations and adjustments for the income tax effect of the excluded items.GAAP and non-GAAP results are as follows:/ Other Performance MetricsACV is a key performance metric and is useful to investors in assessing the strength and trajectory of our business. ACV is a supplemental metric to help evaluate the annual performance of the business. Over the life of the contract, ACV equals the total value realized from a customer. ACV is not impacted by the timing of license revenue recognition. ACV is used by management in financial and operational decision-making and in setting sales targets used for compensation. ACV is not a replacement for, and should be viewed independently of, GAAP revenue and deferred revenue as ACV is a performance metric and is not intended to be combined with any of these items. There is no GAAP measure comparable to ACV. ACV is composed of the following:When we refer to the anniversary dates in the definition of ACV above, we are referencing the date of the beginning of the next twelve-month period in a contractually committed multi-year contract. If a contract is three years in duration, with a start date of July 1, 2022, the anniversary dates would be July 1, 2023 and July 1, 2024. We label these anniversary dates as they are contractually committed. While this contract would be up for renewal on July 1, 2025, our ACV performance metric does not assume any contract renewals.Example 1: For purposes of calculating ACV, a $100,000 subscription lease contract or a $100,000 maintenance contract with a term of July 1, 2022 – June 30, 2023, would each contribute $100,000 to ACV for fiscal year 2022 with no contribution to ACV for fiscal year 2023.Example 2: For purposes of calculating ACV, a $300,000 subscription lease contract or a $300,000 maintenance contract with a term of July 1, 2022 – June 30, 2025, would each contribute $100,000 to ACV in each of fiscal years 2022, 2023 and 2024. There would be no contribution to ACV for fiscal year 2025 as each period captures the full annual value upon the anniversary date.Example 3: A perpetual license valued at $200,000 with a contract start date of March 1, 2022 would contribute $200,000 to ACV in fiscal year 2022./ Management's 2023 Financial OutlookThe Company's first quarter and FY 2023 revenue, diluted earnings per share and ACV guidance is provided below. The Company is also providing its FY 2023 guidance for operating cash flows and unlevered operating cash flow. The revenue and diluted earnings per share guidance is provided on both a GAAP and non-GAAP basis. Non-GAAP financial measures exclude the income statement effects of the acquisition accounting adjustments to deferred revenue from business combinations closed prior to 2022, stock-based compensation, excess payroll taxes related to stock-based compensation, amortization of acquired intangible assets, expenses related to business combinations and adjustments for the income tax effect of the excluded items.This guidance is based on the Company's evaluation of factual information it has determined to be relevant and the application of certain assumptions made by the Company. Please refer to the Company's prepared remarks document for additional information regarding the Company's financial guidance, including its assumptions regarding overall business dynamics./ First Quarter 2023 Guidance The Company currently expects the following for the quarter ending March 31, 2023:/ Fiscal Year 2023 GuidanceThe Company currently expects the following for the fiscal year ending December 31, 2023:Our diluted FY 2023 EPS guidance is inclusive of $44.1 million in interest expense ($36.4 million, net of tax). This compares to interest expense in FY 2022 of $22.7 million ($18.6 million, net of tax) with the significant increase in FY 2023 driven by the recent rising interest rate environment and our floating interest rate on our term loans. Because of the unpredictable nature of the interest rate environment, our go-forward guidance for operating cash flow will be on an unlevered basis. We will continue to provide a reconciliation to operating cash flow in our GAAP to Non-GAAP reconciliations. Reconciliations of the GAAP to Non-GAAP diluted EPS outlook and the operating cash flow to unlevered operating cash flow outlook are available in our "Reconciliations of GAAP to Non-GAAP Measures" section found later in this document./ Conference Call InformationAnsys will hold a conference call at 8:30 a.m. Eastern Time on February 23, 2023 to discuss fourth quarter and FY 2022 results. The Company will provide its prepared remarks on the Company’s investor relations homepage and as an exhibit in its Form 8-K in advance of the call to provide stockholders and analysts with additional time and detail for analyzing its results in preparation for the conference call. The prepared remarks will not be read on the call, and only brief remarks will be made prior to the Q&A session.To participate in the live conference call, dial 855-239-2942 (US) or 412-542-4124 (Canada & Int’l). The call will be recorded and a replay will be available within two hours after the call. The replay will be available by dialing (877) 344-7529 (US), (855) 669-9658 (Canada) or (412) 317-0088 (Int’l) and entering the access code 3180704. The archived webcast can be accessed, along with other financial information, on Ansys' website at https://investors.ansys.com/events-presentations/events./ GAAP Financial StatementsANSYS, INC. AND SUBSIDIARIESCondensed Consolidated Balance Sheets(Unaudited)/ Reconciliations of GAAP to Non-GAAP Measures (Unaudited)1 Diluted weighted average shares were 87,473.1 Diluted weighted average shares were 88,201.1 Diluted weighted average shares were 87,490.1 Diluted weighted average shares were 88,102./ Use of Non-GAAP MeasuresWe provide non-GAAP revenue, non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating income, non-GAAP operating profit margin, non-GAAP net income, non-GAAP diluted earnings per share and unlevered operating cash flows as supplemental measures to GAAP regarding our operational performance. These financial measures exclude the impact of certain items and, therefore, have not been calculated in accordance with GAAP. A detailed explanation of each of the adjustments to such financial measures is described below. This press release also contains a reconciliation of each of these non-GAAP financial measures to its most comparable GAAP financial measure.We use non-GAAP financial measures (a) to evaluate our historical and prospective financial performance as well as our performance relative to our competitors, (b) to set internal sales targets and spending budgets, (c) to allocate resources, (d) to measure operational profitability and the accuracy of forecasting, (e) to assess financial discipline over operational expenditures and (f) as an important factor in determining variable compensation for management and employees. In addition, many financial analysts that follow us focus on and publish both historical results and future projections based on non-GAAP financial measures. We believe that it is in the best interest of our investors to provide this information to analysts so that they accurately report the non-GAAP financial information. Moreover, investors have historically requested, and we have historically reported, these non-GAAP financial measures as a means of providing consistent and comparable information with past reports of financial results.While we believe that these non-GAAP financial measures provide useful supplemental information to investors, there are limitations associated with the use of these non-GAAP financial measures. These non-GAAP financial measures are not prepared in accordance with GAAP, are not reported by all our competitors and may not be directly comparable to similarly titled measures of our competitors due to potential differences in the exact method of calculation. We compensate for these limitations by using these non-GAAP financial measures as supplements to GAAP financial measures and by reviewing the reconciliations of the non-GAAP financial measures to their most comparable GAAP financial measures.The adjustments to these non-GAAP financial measures, and the basis for such adjustments, are outlined below:Acquisition accounting for deferred revenue. Historically, we have consummated acquisitions in order to support our strategic and other business objectives. Under prior accounting guidance, a fair value provision resulted in acquired deferred revenue that was often recorded on the opening balance sheet at an amount that was lower than the historical carrying value. Although this fair value provision has no impact on our business or cash flow, it adversely impacts our reported GAAP revenue in the reporting periods following an acquisition. In 2022, we adopted accounting guidance which eliminates the fair value provision that resulted in the deferred revenue adjustment on a prospective basis. In order to provide investors with financial information that facilitates comparison of both historical and future results, we provide non-GAAP financial measures which exclude the impact of the acquisition accounting adjustment for acquisitions prior to the adoption of the new guidance in 2022. We believe that this non-GAAP financial adjustment is useful to investors because it allows investors to (a) evaluate the effectiveness of the methodology and information used by us in our financial and operational decision-making, and (b) compare our past and future reports of financial results as the revenue reduction related to acquired deferred revenue will not recur when related subscription leases and software maintenance contracts are renewed in future periods.Amortization of intangible assets from acquisitions. We incur amortization of intangible assets, included in our GAAP presentation of amortization expense, related to various acquisitions we have made. We exclude these expenses for the purpose of calculating non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating income, non-GAAP operating profit margin, non-GAAP net income and non-GAAP diluted earnings per share when we evaluate our continuing operational performance because these costs are fixed at the time of an acquisition, are then amortized over a period of several years after the acquisition and generally cannot be changed or influenced by us after the acquisition. Accordingly, we do not consider these expenses for purposes of evaluating our performance during the applicable time period after the acquisition, and we exclude such expenses when making decisions to allocate resources. We believe that these non-GAAP financial measures are useful to investors because they allow investors to (a) evaluate the effectiveness of the methodology and information used by us in our financial and operational decision-making, and (b) compare our past reports of financial results as we have historically reported these non-GAAP financial measures.Stock-based compensation expense. We incur expense related to stock-based compensation included in our GAAP presentation of cost of maintenance and service; research and development expense; and selling, general and administrative expense. This non-GAAP adjustment also includes excess payroll tax expense related to stock-based compensation. Although stock-based compensation is an expense and viewed as a form of compensation, we exclude these expenses for the purpose of calculating non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating income, non-GAAP operating profit margin, non-GAAP net income and non-GAAP diluted earnings per share when we evaluate our continuing operational performance. Specifically, we exclude stock-based compensation during our annual budgeting process and our quarterly and annual assessments of our performance. The annual budgeting process is the primary mechanism whereby we allocate resources to various initiatives and operational requirements. Additionally, the annual review by our board of directors during which it compares our historical business model and profitability to the planned business model and profitability for the forthcoming year excludes the impact of stock-based compensation. In evaluating the performance of our senior management and department managers, charges related to stock-based compensation are excluded from expenditure and profitability results. In fact, we record stock-based compensation expense into a stand-alone cost center for which no single operational manager is responsible or accountable. In this way, we can review, on a period-to-period basis, each manager's performance and assess financial discipline over operational expenditures without the effect of stock-based compensation. We believe that these non-GAAP financial measures are useful to investors because they allow investors to (a) evaluate our operating results and the effectiveness of the methodology used by us to review our operating results, and (b) review historical comparability in our financial reporting as well as comparability with competitors' operating results.Expenses related to business combinations. We incur expenses for professional services rendered in connection with business combinations, which are included in our GAAP presentation of selling, general and administrative expense. Beginning in the second quarter of 2022, we have updated this non-GAAP measure to include, in addition to professional services rendered in connection with business combinations, other expenses directly related to business combinations, including compensation expenses and concurrent restructuring activities, such as employee severances and other exit costs. These costs are included in our GAAP presentation of selling, general and administrative and research and development expenses. The additional expenses were not material in the current or prior year period. We exclude these acquisition-related expenses for the purpose of calculating non-GAAP operating income, non-GAAP operating profit margin, non-GAAP net income and non-GAAP diluted earnings per share when we evaluate our continuing operational performance, as we generally would not have otherwise incurred these expenses in the periods presented as a part of our operations. We believe that these non-GAAP financial measures are useful to investors because they allow investors to (a) evaluate our operating results and the effectiveness of the methodology used by us to review our operating results, and (b) review historical comparability in our financial reporting as well as comparability with competitors' operating results.Non-GAAP tax provision. We utilize a normalized non-GAAP annual effective tax rate (AETR) to calculate non-GAAP measures. This methodology provides better consistency across interim reporting periods by eliminating the effects of non-recurring items and aligning the non-GAAP tax rate with our expected geographic earnings mix. To project this rate, we analyzed our historic and projected non-GAAP earnings mix by geography along with other factors such as our current tax structure, recurring tax credits and incentives, and expected tax positions. On an annual basis we re-evaluate and update this rate for significant items that may materially affect our projections.Unlevered operating cash flows. We make cash payments for the interest incurred in connection with our debt financing which are included in our GAAP presentation of operating cash flows. We exclude this cash paid for interest, net of the associated tax benefit, for the purpose of calculating unlevered operating cash flows. Unlevered operating cash flow is a supplemental non-GAAP measure that we use to evaluate our core operating business. We believe this measure is useful to investors and management because it provides a measure of our cash generated through operating activities independent of the capital structure of the business.Non-GAAP financial measures are not in accordance with, or an alternative for, GAAP. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.We have provided a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures as listed below:Constant currency. In addition to the non-GAAP financial measures detailed above, we use constant currency results for financial and operational decision-making and as a means to evaluate period-to-period comparisons by excluding the effects of foreign currency fluctuations on the reported results. To present this information, the 2022 results for entities whose functional currency is a currency other than the U.S. Dollar were converted to U.S. Dollars at rates that were in effect for the 2021 comparable period, rather than the actual exchange rates in effect for 2022. Constant currency growth rates are calculated by adjusting the 2022 reported amounts by the 2022 currency fluctuation impacts and comparing the adjusted amounts to the 2021 comparable period reported amounts. We believe that these non-GAAP financial measures are useful to investors because they allow investors to (a) evaluate the effectiveness of the methodology and information used by us in our financial and operational decision-making, and (b) compare our reported results to our past reports of financial results without the effects of foreign currency fluctuations./ About AnsysWhen visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys.Take a leap of certainty … with Ansys./ Forward-Looking InformationThis document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that provide current expectations or forecasts of future events based on certain assumptions. Forward-looking statements are subject to risks, uncertainties, and factors relating to our business which could cause our actual results to differ materially from the expectations expressed in or implied by such forward-looking statements.Forward-looking statements use words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “may,” “outlook,” “plan,” “predict,” “project,” “should,” “target,” or other words of similar meaning. Forward-looking statements include those about market opportunity, including our total addressable market. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise.The risks associated with the following, among others, could cause actual results to differ materially from those described in any forward-looking statements:Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners.Visit https://investors.ansys.com for more information.ANSS-F2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ANSS/2023.02.23/Ansys : Leads and Learns at the 12th Annual oSTEM Conference.txt b/news/ANSS/2023.02.23/Ansys : Leads and Learns at the 12th Annual oSTEM Conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..1d2f9766657f1f42ff6ead1a7f82efc9cf0b7061 --- /dev/null +++ b/news/ANSS/2023.02.23/Ansys : Leads and Learns at the 12th Annual oSTEM Conference.txt @@ -0,0 +1,131 @@ + + + + ANSYS BLOG + + + February 23, 2023 + + + + + Ansys Leads and Learns at the 12th Annual oSTEM Conference + + + + + In November 2022, members of our Ansys Talent Acquisition and Pride Alliance employee resource group leadership teams attended the 12th annual Out in Science, Technology, Engineering, and Mathematics (oSTEM) Conference in Boston, Massachusetts. + + + + + Members of the Ansys Talent Acquisition team and Ansys Pride Alliance Leadership Team posing together at the Ansys booth at the oSTEM 2022 conference. + + + + + If you're not familiar with oSTEM, it's a nonprofit professional organization for LGBTQ+ people in the STEM community. It is the largest chapter-based organization focused on LGBTQ+ people in STEM, represented by over 100 student chapters at colleges and universities and professional chapters globally. + + + oSTEM's mission is to empower LGBTQ+ people in STEM to succeed personally, academically, and professionally by cultivating environments and communities that nurture innovation, leadership, and advocacy. + + + In-person attendance at the conference was a first for both Ansys teams. We'd like to share a recap of a very productive weekend of oSTEM activities at the conference as experienced by all from Ansys who attended. So, for those who couldn't make it, what happened at the conference? + + + Taking Home the Strategic Alliance Award + + + First and foremost, we're proud to have received the Strategic Alliance Award, joining previous recipients including engineering companies like Ford Motor Company, Lockheed Martin, and Boeing. + + + The award is presented to a current sponsoring organization, community partner, or grant provider of oSTEM who has demonstrated a strong dedication to oSTEM, LGBTQ+ people in STEM, and STEM education. Gilles Eggenspieler, our Global Partnerships Lead and Pride Alliance co-lead, was there to accept it. + + + + + Pride Alliance Leadership team members Dan Witman, Gilles Eggenspieler, and Alex Moon posing with the oSTEM Strategic Alliance Award. + + + + + Two oSTEM Scholarships Awarded + + + Part of our participation in oSTEM involves scholarships. Each year we set out to sponsor at least one student during their journey through STEM education. This year, we sponsored two engineering students, one of which is pursuing a bachelor's degree in industrial systems engineering at Texas A&M University and the other, a master's degree in industrial engineering at the University of Illinois. + + + Our Ansys team had the pleasure of meeting one of the recipients at the conference banquet dinner, where she shared her main passions: engineering and interior design. In her upcoming coursework, she will be working with digital twin simulations to help solve real-world problems. + + + Scouting New Talent + + + Another benefit for all participants is the oSTEM Career Fair and Graduate School Expo. Members of the Ansys teams came together for two days of career fair interactions with prospective students. + + + During that time, we met with individuals seeking internship and full-time positions within our company. Students came to the booth with varied interests - from fluids and aerospace to data science and software engineering. + + + As a departing gift for visiting our booth, each student walked away with a bag of Ansys swag and a sense of connection with our brand, including a better understanding of what we do and how that might impact their career path in the future. + + + Promoting Simulation as a Superpower + + + The oSTEM conference consisted of two packed days of workshops - 50 sessions in total - for students and professionals to gain skills and knowledge across STEM domains. + + + Gilles Eggenspieler hosted a workshop session titled "Learning Simulation to Boost Your Career." The presentation stressed the importance of knowing and using simulation across engineering disciplines, as well as how this knowledge can make you stand out during the recruitment process. + + + + + + After the presentation, Eggenspieler engaged in a lively Q&A with students who were keen to learn more about Ansys simulation solutions and how they can be used to solve real-world problems. At the end of the workshop, one lucky attendee won a drone. + + + "This is a great conference," says Eggenspieler. "I have met many students the past few days. It is extremely impressive to see the quality of the students, the skills they show, and the amazing resumes. I would not be surprised if every student here got a job by the end of this conference." + + + + + Gilles Eggenspieler hosting a workshop session at the oSTEM 2022 conference. + + + + + + Learning Valuable Skills at STEM Workshops + + + Ansys Pride Alliance leaders also took advantage of opportunities for personal enrichment by attending workshops organized by professionals in our industry. + + + Through these workshops, the team learned important new skills such as how to conduct "courageous conversations" about inclusion in the workplace and how to overcome traditional corporate barriers to our diversity, equity, inclusion, and belonging (DEI&B) efforts. Professionals also shared many valuable insights and experiences in STEM, such as transitioning in the tech industry or leading change as a Latina in traditionally white spaces. + + + Of course, another benefit of these workshops is professional network building. This includes establishing relationships with employee resource group leaders from other companies, which has already fostered knowledge-sharing between Ansys and our industry competitors. We believe that growing these external relationships will only strengthen Ansys' position as a prominent leader in DEI&B STEM efforts. + + + Want to learn more about #LIfeAtAnsys? Check out our Careers page. + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +ANSYS Inc. published this content on 23 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 February 2023 13:23:54 UTC. + + diff --git a/news/ANSS/2023.02.23/Nvidia, Planet Fitness rise; Domino's, Wayfair fall.txt b/news/ANSS/2023.02.23/Nvidia, Planet Fitness rise; Domino's, Wayfair fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..6af27577f96e2f38a9e3aee9f0e77c097475b5d1 --- /dev/null +++ b/news/ANSS/2023.02.23/Nvidia, Planet Fitness rise; Domino's, Wayfair fall.txt @@ -0,0 +1,2 @@ +Stocks that traded heavily or had substantial price changes Thursday: Nvidia Corp., up $29.10 to $236.64.The chipmaker gave investors a strong sales forecast.Ansys Inc., up $27.97 to $294.75.The maker of engineering-simulation software gave investors a strong profit and revenue forecast.Lucid Group Inc., down $1.19 to $8.79.The electric vehicle maker's fourth-quarter revenue fell short of analysts' expectations.Domino’s Pizza Inc., down $40.60 to $307.86.The pizza chain reported weak fourth-quarter revenue.Wayfair Inc., down $11.48 to $38.33.The online home goods retailer reported a bigger fourth-quarter loss than analysts had expected.Nikola Corp., down 13 cents to $2.20.The electric truck maker's fourth-quarter revenue fell short of Wall Street forecasts.Tennant Co., up $4.54 to $73.The cleaning products maker beat analysts' fourth-quarter earnings forecasts.Planet Fitness Inc., up $4.18 to $83.29.The New Hampshire-based gym chain reported encouraging fourth-quarter financial results.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. +, source Associated Press News \ No newline at end of file diff --git a/news/ASML/2023.01.05/ASML : UBS reaffirms its Buy rating.txt b/news/ASML/2023.01.05/ASML : UBS reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..cb930404ba193bd068196173f41610da64eadacd --- /dev/null +++ b/news/ASML/2023.01.05/ASML : UBS reaffirms its Buy rating.txt @@ -0,0 +1 @@ +In his latest research note, analyst Francois-Xavier Bouvignies confirms his positive recommendation. The broker UBS is keeping its Buy rating. The target price continues to be set at EUR 660. \ No newline at end of file diff --git a/news/ASML/2023.01.06/ASML : Jefferies gives a Buy rating.txt b/news/ASML/2023.01.06/ASML : Jefferies gives a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..464acf5a4c22ae092f5ce8ae0a5aa6869a106a80 --- /dev/null +++ b/news/ASML/2023.01.06/ASML : Jefferies gives a Buy rating.txt @@ -0,0 +1 @@ +Jefferies is positive on the stock with a Buy rating. The target price continues to be set at EUR 700. \ No newline at end of file diff --git a/news/ASML/2023.01.06/ASML : Receives a Buy rating from Jefferies.txt b/news/ASML/2023.01.06/ASML : Receives a Buy rating from Jefferies.txt new file mode 100644 index 0000000000000000000000000000000000000000..b85ea06cdff7c4a3a0f6fa09011df97f5257f293 --- /dev/null +++ b/news/ASML/2023.01.06/ASML : Receives a Buy rating from Jefferies.txt @@ -0,0 +1 @@ +In a research note published by Janardan Menon, Jefferies advises its customers to buy the stock. The target price is unchanged at EUR 700. \ No newline at end of file diff --git a/news/ASML/2023.01.11/ASML : Credit Suisse reiterates its Buy rating.txt b/news/ASML/2023.01.11/ASML : Credit Suisse reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..89188e358a15c7f75b5353ee68fd962abd94b49e --- /dev/null +++ b/news/ASML/2023.01.11/ASML : Credit Suisse reiterates its Buy rating.txt @@ -0,0 +1 @@ +Adithya Metuku from Credit Suisse retains his positive opinion on the stock with a Buy rating. No major update to the target price set at EUR 745 compared to EUR 752. \ No newline at end of file diff --git a/news/ASML/2023.01.11/ASML : JP Morgan keeps its Buy rating.txt b/news/ASML/2023.01.11/ASML : JP Morgan keeps its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..0f00fe8cd2d369c85b3e0212256f63d2ec4840ac --- /dev/null +++ b/news/ASML/2023.01.11/ASML : JP Morgan keeps its Buy rating.txt @@ -0,0 +1 @@ +In a research note, JP Morgan analyst Sandeep Deshpande has maintained his recommendation on the stock with a Buy rating. The target price remains set at EUR 690. \ No newline at end of file diff --git a/news/ASML/2023.01.12/ASML : Goldman Sachs reiterates its Buy rating.txt b/news/ASML/2023.01.12/ASML : Goldman Sachs reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..fbad2c4f91d12d7def2bd5ee9454c0dd0e1bebb4 --- /dev/null +++ b/news/ASML/2023.01.12/ASML : Goldman Sachs reiterates its Buy rating.txt @@ -0,0 +1 @@ +Alexander Duval from Goldman Sachs retains his positive opinion on the stock with a Buy rating. The target price remains set at EUR 750. \ No newline at end of file diff --git a/news/ASML/2023.01.12/Analysis-Why the U.S. needs Japan's help on China chips restrictions.txt b/news/ASML/2023.01.12/Analysis-Why the U.S. needs Japan's help on China chips restrictions.txt new file mode 100644 index 0000000000000000000000000000000000000000..5983e540d76ef632717ae5f76e77bbc73ff89551 --- /dev/null +++ b/news/ASML/2023.01.12/Analysis-Why the U.S. needs Japan's help on China chips restrictions.txt @@ -0,0 +1 @@ +Persuading Japan to join the U.S. effort, which limits Chinese access to U.S. chipmaking technology and cuts China off from certain semiconductor chips made anywhere in the world, will be high on U.S. President Joe Biden's to-do list when he meets with Japanese Prime Minister Fumio Kishida in Washington on Friday.American officials, touting an ever-closer strategic alignment with Japan, are praising Tokyo's plan for the biggest Japanese military buildup since World War Two as rivalry with China in the region grows. But while Japan is broadly in-line with the goals of the Biden administration's expanded U.S. export controls, Kishida's government has been vague about the extent to which it will join in. Speaking in Washington last week, Japan's minister of Economy, Trade and Industry, Yasutoshi Nishimura, promised to work more closely with Washington on export controls, although he did not say whether Tokyo would match sweeping U.S. restrictions. The hesitation is understandable - Japan is a top producer of the specialized tooling equipment needed to manufacture advanced chips and its companies hold 27% of global market share, according to the Semiconductor Industry Association. Tokyo Electron, Japan's leading chip manufacturing equipment maker, relies on China for about a quarter of its revenue.The other top producers of chip-making gear are the United States and the Netherlands, home to ASML, another of the world's biggest makers of chip-making tools. SEEKING A DEALU.S. officials are quick to play down the differences between the United States, Japan and other allies. "I think there's a very, very similar vision of the challenges," a senior U.S. administration official told Reuters on Wednesday, adding that Japanese export restrictions may not be exactly the same as the U.S. controls. "But I don't think the Japanese question the basic premise that we need to be working closely together on this."A U.S. Commerce Department official said in October he expected a deal with allies in the near term. Netherlands Prime Minister Mark Rutte will travel to Washington to meet Biden on Tuesday and discuss "cooperation on critical technologies and shared vision for a free and open Indo-Pacific," the White House said on Thursday. Still, said Daniel Russel, a former top U.S. diplomat for Asia, a gap remains between the U.S. and Japanese positions. "Kishida wants the U.S. to take a Goldilocks approach that is tough enough to deter Chinese assertiveness, but cautious enough to allow Japan's business interests to thrive," he said.Behind the U.S. drive for high-tech export controls is rising alarm about China's military buildup and its effort to outpace the United States in technologies such as artificial intelligence and quantum computing. Fearing that this will yield a military edge for an increasingly assertive China, U.S. officials hope that keeping the most sophisticated chips - and the tools needed to make them - out of China's hands will slow the country's progress on advanced technologies. But unless Japan and the Netherlands impose their own export controls, China will soon perfect other ways of getting the equipment it needs, even as American companies stand to lose market share.A U.S. deal with the Netherlands could also be within reach. One toolmaking industry executive familiar with that country's sector said that if the Dutch government imposed similar export controls on its industry, ASML would probably not suffer a severe impact due to its extensive network of customers beyond China. If U.S. diplomacy succeeds, its policies could have the intended impact, argues Chris Miller, author of "Chip War" and an associate professor at Tufts University.With Japan on board, particularly in terms of chip manufacturing tools, the United States could put up "a really large number of road blocks to China's ability to advance its own domestic chipmaking," Miller said. That would have knock-on effects for Beijing's other tech ambitions, including in artificial intelligence. Japanese companies can make up for lost China business by expanding elsewhere, such as Southeast Asia, a chip industry source familiar with internal discussions about export restrictions said. "For better or worse, Japan's semiconductor strategy is moving in accordance with what the United States wants." (Reporting by Michael Martina and David Brunnstrom in Washington; Additional reporting by Alexandra Alper in Washington and Tim Kelly, Maki Shiraki and Mariko Katsumura in Tokyo; Editing by Don Durfee and Matthew Lewis)By Michael Martina and David Brunnstrom \ No newline at end of file diff --git a/news/ASML/2023.01.12/U.S. talks with Japanese, Dutch to yield no immediate China chip export curbs -source.txt b/news/ASML/2023.01.12/U.S. talks with Japanese, Dutch to yield no immediate China chip export curbs -source.txt new file mode 100644 index 0000000000000000000000000000000000000000..4382aa79d3505ea4087f5cf326052a92a7fd48ec --- /dev/null +++ b/news/ASML/2023.01.12/U.S. talks with Japanese, Dutch to yield no immediate China chip export curbs -source.txt @@ -0,0 +1 @@ +The Biden administration in October published a sweeping set of export controls, including measures tightly restricting Chinese access to U.S. chipmaking technology, as part of a bid to slow Beijing's technological and military advances.But it has not yet convinced key allies to put in place similar equipment curbs seen as essential to making the restrictions effective, since Japanese and Dutch firms Tokyo Electron Ltd and ASML Holding NV also are top producers of chipmaking equipment.Upcoming meetings between U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida and Dutch Prime Minister Mark Rutte at the White House on Friday and next Tuesday, respectively, will provide forums to discuss the issue, said a person briefed on U.S. officials' thinking.But, "these visits will not result in immediate announcements and (are) part of our ongoing consultations on these issues," the person cautioned. A key commerce department official said in October that such agreements were coming "in the near term." (Reporting by Alexandra Alper; Editing by Leslie Adler and Lincoln Feast.)By Alexandra Alper \ No newline at end of file diff --git a/news/ASML/2023.01.12/White House meetings with Japanese, Dutch to yield no immediate China export curbs -sou...txt b/news/ASML/2023.01.12/White House meetings with Japanese, Dutch to yield no immediate China export curbs -sou...txt new file mode 100644 index 0000000000000000000000000000000000000000..860f538335ab11c873eb7bb81708ba789ee77eea --- /dev/null +++ b/news/ASML/2023.01.12/White House meetings with Japanese, Dutch to yield no immediate China export curbs -sou...txt @@ -0,0 +1,7 @@ +WASHINGTON, Jan 12 (Reuters) - The White House will +discuss a recent crackdown on exports of chip-making tools to +China with Japanese and Dutch officials during upcoming visits, +but they won't result in "immediate" pledges from those two +countries to impose similar curbs, a person familiar with U.S. +officials' thinking said on Thursday. +(Reporting by Alexandra Alper; Editing by Leslie Adler) \ No newline at end of file diff --git a/news/ASML/2023.01.13/Dutch PM Rutte denies U.S. pressure over chip export policy.txt b/news/ASML/2023.01.13/Dutch PM Rutte denies U.S. pressure over chip export policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..0a56ec0de6e0462494222eb5dfc6e5c502a134ff --- /dev/null +++ b/news/ASML/2023.01.13/Dutch PM Rutte denies U.S. pressure over chip export policy.txt @@ -0,0 +1 @@ +The Hague has denied licenses for its largest company, ASML Holding NV, to export its most advanced machines to China since 2019, following lobbying by the Trump administration, raising concerns it is under pressure again to adopt further restrictions.U.S. officials have said they expect the Netherlands to implement similar rules to those imposed on U.S. companies by Washington in October 2022, which are aimed at hobbling China's ability to make its own chips.Rutte is travelling to Washington next week to meet with U.S. President Joe Biden to discuss security and trade issues, including chip-making tool exports. "This is a terrain where we're a world player and we can conduct discussions about it without immediately talking in terms ... of being 'put under pressure'. I don't experience it like that at all," Rutte said at his weekly press conference."When you're talking about vital technologies ... it can be important to talk to others about that, so that's what we are doing, but from a position of sovereignty, self-confidence."ASML, which dominates the market for lithography systems used to create the circuitry of chips, sold around 2 billion euros ($2.17 billion) of its older equipment, which is not currently restricted, to China, in 2021. It has said new U.S. rules could affect a third of that."We are talking about how you prevent - without naming any specific third country - modern chips being used for weapons systems. Or that you make yourself dependent" on other countries for technology, Rutte said at his weekly press briefing."That kind of conversation is happening intensively in the European Union...and also in the United States," he said, adding that Ukraine will likely be the top issue in talks with Biden.($1 = 0.9235 euros) (Reporting by Toby Sterling; Editing by Andrew Cawthorne) \ No newline at end of file diff --git a/news/ASML/2023.01.16/Dutch trade minister: won't summarily agree to U.S. rules on China ...txt b/news/ASML/2023.01.16/Dutch trade minister: won't summarily agree to U.S. rules on China ...txt new file mode 100644 index 0000000000000000000000000000000000000000..ecb946cde6897b795453dba7e12e6765e250b33f --- /dev/null +++ b/news/ASML/2023.01.16/Dutch trade minister: won't summarily agree to U.S. rules on China ...txt @@ -0,0 +1 @@ +Trade Minister Liesje Schreinemacher spoke on Sunday on the television show Buitenhof ahead of a visit to the U.S. by Dutch Prime Minister Mark Rutte on Tuesday, when he is expected to discuss export policy with President Joe Biden.The Netherlands' largest company is ASML Holding, a key supplier to semiconductor equipment makers.The Dutch government has denied ASML permission to ship its most advanced machines to China since 2019 following a pressure campaign by the Trump administration, but ASML did sell 2 billion euros worth of older machines to China in 2021. The U.S. in October adopted measures aimed at hobbling China's ability to make its own chips, and U.S. trade officials said at the time they expected the Netherlands and Japan to implement similar rules soon.ASML has said that the U.S. rules could impact roughly 5% of its group sales.Schreinemacher said the U.S. had "justified worries" about over-reliance on Asia, where 80% of advanced chips are made, and the threat that they could wind up in a military application or being used against the Netherlands."We've been talking with the Americans for a long time, but they came up with new rules in October, so that changes the playing field," said Schreinemacher. "So you can't say that they've been pressuring us for two years and now we have to sign on the dotted line. And we won't."She said the Netherlands is also talking with Japan, South Korea, Taiwan, Germany and France. She underlined that Germany has an economic interest as it is a key supplier to ASML and to "ensure that if we put a certain technology on a list of products that can't be easily exported, that other countries do too." (Reporting by Toby Sterling; Editing by Leslie Adler) \ No newline at end of file diff --git a/news/ASML/2023.01.17/ASML : Gets a Neutral rating from Barclays.txt b/news/ASML/2023.01.17/ASML : Gets a Neutral rating from Barclays.txt new file mode 100644 index 0000000000000000000000000000000000000000..55ba36f49c8d587f887e35c8b8be8773e7e265ae --- /dev/null +++ b/news/ASML/2023.01.17/ASML : Gets a Neutral rating from Barclays.txt @@ -0,0 +1 @@ +Barclays's research confirms his advice and maintains his neutral opinion on the stock. The target price is unchanged and still at EUR 680. \ No newline at end of file diff --git a/news/ASML/2023.01.17/Dutch PM Rutte sees progress in talks on U.S. chip export restrictions.txt b/news/ASML/2023.01.17/Dutch PM Rutte sees progress in talks on U.S. chip export restrictions.txt new file mode 100644 index 0000000000000000000000000000000000000000..285572163af5adb510ca01601fbf9e08e8b5de1f --- /dev/null +++ b/news/ASML/2023.01.17/Dutch PM Rutte sees progress in talks on U.S. chip export restrictions.txt @@ -0,0 +1 @@ +"I think that step by step we will be able to reach a good outcome in cooperation," Rutte said in an interview with Dutch TV programme Nieuwsuur following his visit to the White House.The leaders discussed U.S. requests for the Netherlands to adopt U.S. rules introduced in October aimed at hobbling China's chipmaking industry to slow its technological and military advances, but details of the talks were not disclosed.The Netherlands is home to ASML Holding NV, a key maker of semiconductor manufacturing equipment. China accounted for 15% of its sales in 2021 - about 2 billion euros ($2.2 billion) worth of sales that could be affected if the Netherlands were to adopt the new U.S. rules. Rutte said it was important for Western countries to not lose their leading position in advanced semiconductor technologies and that advanced chips should not be used for military purposes "in countries where you do not wish that to happen."But he also warned that global supply chains for simpler technologies should not be disrupted by export restrictions."This goes broader than just one country. We don't talk only with the U.S., we talk to many partners," he said. (Reporting by Bart Meijer and Toby Sterling, editing by Deepa Babington) \ No newline at end of file diff --git a/news/ASML/2023.01.17/Dutch premier pledges Patriot missiles for Ukraine at Biden meeting.txt b/news/ASML/2023.01.17/Dutch premier pledges Patriot missiles for Ukraine at Biden meeting.txt new file mode 100644 index 0000000000000000000000000000000000000000..a5bf9e3d39d8bff13577f72d5fd865e02cce2e2e --- /dev/null +++ b/news/ASML/2023.01.17/Dutch premier pledges Patriot missiles for Ukraine at Biden meeting.txt @@ -0,0 +1 @@ +The Netherlands will join the United States and Germany in sending the Patriot missile defense system to Ukraine, Rutte told Biden at the White House. "I think that it's important we join that and I discussed it also this morning with Olaf Scholz of Germany," Rutte said. Biden told Rutte he looked forward to discussing ways to strengthen the supply chain as he welcomed the prime minister to the White House. Biden also thanked Rutte for being "very very stalwart" on its support for Ukraine. Rutte said the Netherlands has decided to spend an additional 2.5 billion euros ($2.70 billion) supporting Ukraine, an announcement the government made previously. Trade Minister Liesje Schreinemacher said on Sunday the Netherlands would not summarily accept demands by the United States on chip technology. Biden and Rutte are expected to discuss further support to Ukraine, "as well as further cooperation in the fields of defense and security and strengthening of the bilateral trade relationship," a Dutch statement said.The United States in October adopted sweeping measures to hobble China's ability to make its own chips, and U.S. trade officials said at the time they expected the Netherlands and Japan to implement similar rules soon.The Netherlands' largest company is ASML Holding, a supplier to the semiconductor industry.Rutte told reporters on Friday that he did not feel pressure from Washington to adopt more restrictions on semiconductor exports to China."This is a terrain where we're a world player and we can conduct discussions about it without immediately talking in terms ... of being 'put under pressure'. I don't experience it like that at all," he said.($1 = 0.9267 euros) (Reporting By Steve Holland; Editing by Tomasz Janowski and Heather Timmons) \ No newline at end of file diff --git a/news/ASML/2023.01.17/Dutch tech industry urges EU to take a stand on China chip exports.txt b/news/ASML/2023.01.17/Dutch tech industry urges EU to take a stand on China chip exports.txt new file mode 100644 index 0000000000000000000000000000000000000000..dae452b1e5fe38aa9a1299741d8684ea9cb21813 --- /dev/null +++ b/news/ASML/2023.01.17/Dutch tech industry urges EU to take a stand on China chip exports.txt @@ -0,0 +1 @@ +The call comes as Dutch Prime Minister Mark Rutte visits U.S. President Joe Biden in Washington. The leaders are expected to discuss U.S. requests for the Netherlands to adopt U.S. rules introduced in October aimed at hobbling China's chipmaking industry to slow its technological and military advances.The Netherlands is home to ASML Holding NV, a key maker of semiconductor manufacturing equipment. It had 15% of its sales to China in 2021, or 2 billion euros ($2.2 billion)worth, that could be affected if the Netherlands were to adopt the new U.S. rules."In these times ... of geopolitical tensions, national and European strategic autonomy is of great importance," said FME chairman Theo Henrar."The Netherlands would be helped by more unified and powerful action by the European Union."Some European politicians, including Belgium's prime minister, have questioned whether the Netherlands should be left to negotiate chip policy with the U.S. alone, but Rutte on Friday denied feeling pressured by Washington over the matter. The Dutch trade minister on Sunday said she shared U.S. concerns about over-reliance on Asian chipmakers and that chip technology had military applications, but the Netherlands would not simply adopt American rules.FME represents the interests of 2,200 Dutch technology firms, including ASML and smaller equipment maker ASM International.($1 = 0.9269 euros) (Reporting by Toby Sterling; Editing by Mark Potter) \ No newline at end of file diff --git a/news/ASML/2023.01.18/ASML : UBS keeps its Buy rating.txt b/news/ASML/2023.01.18/ASML : UBS keeps its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..094084fcba4cccee6636362491261d93427a785c --- /dev/null +++ b/news/ASML/2023.01.18/ASML : UBS keeps its Buy rating.txt @@ -0,0 +1 @@ +Francois-Xavier Bouvignies from UBS retains his positive opinion on the stock with a Buy rating. The target price remains set at EUR 660. \ No newline at end of file diff --git a/news/ASML/2023.01.20/Dutch defence ministry advised against ASML exports to China in 2020 -FD.txt b/news/ASML/2023.01.20/Dutch defence ministry advised against ASML exports to China in 2020 -FD.txt new file mode 100644 index 0000000000000000000000000000000000000000..88d05c95c118528d9ec24ca922bb250671c61173 --- /dev/null +++ b/news/ASML/2023.01.20/Dutch defence ministry advised against ASML exports to China in 2020 -FD.txt @@ -0,0 +1 @@ +The FD obtained a slightly redacted version of the advice, which it has published on its website, via a Freedom of Information Act request."From the perspective of the Dutch military and security interests in the mid-to-long-term it is of importance ... that ASML not be granted any export permit for the delivery of EUV machines to China and that this unique technology be protected as much as possible," the advice addressed to the foreign ministry said.EUV refers to ASML's flagship lithography machines, which cost $200 million each and are used by chipmakers to create the circuitry of computer chips.The advice has been heeded, as ASML has not shipped EUV technology to Chinese customers.The publication comes as the Dutch government is weighing additional restrictions on ASML's exports of older equipment to China.Prime Minister Mark Rutte said on Jan. 17 he expected a "good outcome" to discussions with the United States on the matter after meeting with President Joe Biden in Washington.The letter also spelled out the potential risks of exporting the technology."The chance that a NATO member state in the future must defend itself against independently produced weapons systems would become much larger if EUV machines are exported," the advice said."In addition our most important strategic security partner, the United States, has made an urgent appeal to the Netherlands not to export the EUV technology to China." (Reporting by Toby Sterling; Editing by Mark Potter) \ No newline at end of file diff --git a/news/ASML/2023.01.20/Dutch export rules on China in focus ahead of ASML results.txt b/news/ASML/2023.01.20/Dutch export rules on China in focus ahead of ASML results.txt new file mode 100644 index 0000000000000000000000000000000000000000..cca8577df0050fc1785f69eec2b362a1ab6b9316 --- /dev/null +++ b/news/ASML/2023.01.20/Dutch export rules on China in focus ahead of ASML results.txt @@ -0,0 +1 @@ +The Hague is expected to impose at least some additional restrictions on ASML's exports to China, a Dutch government source familiar with security discussions between the United States and Netherlands told Reuters, though they could not give a timeframe. ASML, a key supplier to chipmakers, generates about 15% of its sales in China, an important growth market even after it was restricted from selling its most advanced machines there under U.S. pressure in 2019. Tensions between Washington and Beijing over semiconductors have since steadily worsened.Washington in October imposed export restrictions on its own chip equipment companies aimed at hobbling China's ability to make chips and to blunt its military progress. U.S. officials say they expect the Netherlands to follow suit.Dutch Prime Minister Mark Rutte on Jan. 17 said he expected a "good outcome" to discussions with the United States on the matter after meeting with President Joe Biden in Washington.But Dutch trade minister Liesje Schreinemacher has underlined the Netherlands will not simply adopt U.S. rules."I know there's a lot of pressure internationally but I will be fighting for open trade and against protectionism," she told a panel in Davos on Jan. 19.The government source said The Hague has been working to resolve several concerns.One is making sure Dutch rules are drafted in such a way that they are not actually more restrictive for ASML than for U.S. companies.Another is that Japan, home to ASML competitor Nikon, have similar rules, and a third is that new restrictions do not upend the global chip market, which is just emerging from COVID-19 era shortages and needs Chinese production, especially for less-advanced chips."We will figure it out," the source said.EARNINGSThe Dutch Foreign Affairs Ministry, which oversees export controls, declined to comment. ASML also declined to comment citing a quiet period ahead of earnings due on Jan. 25.ASML is expected to post fourth-quarter net income of 1.68 billion euros ($1.82 billion) on record revenue of 6.37 billion euros, according to Refinitiv Eikon data.In November ASML raised its annual revenue estimates by 25% to at least 30 billion euros by 2025.The company's top customers including TSMC, Samsung and Intel are engaged in major expansions, so any loss of Chinese sales could initially be offset elsewhere.Still, the U.S. restrictions are expected to impact 5% of ASML's 38-billion-euro order backlog.There could be further losses from tougher Dutch rules, if for example, limits are re-applied to sales to China of older technology deep ultraviolet lithography (DUV) equipment.ASML has sold more than 8 billion euros worth of such equipment in China since 2014, when DUV was removed from international lists of goods deemed of possible military use.The government would need to expand its definition of sensitive technology to include DUV in order to restrict it and may not specify that such a move is targeting China.($1 = 0.9223 euros) (Reporting by Toby Sterling; editing by Jason Neely)By Toby Sterling and Stephanie van den Berg \ No newline at end of file diff --git a/news/ASML/2023.01.23/Brace yourself for a flurry of earnings.txt b/news/ASML/2023.01.23/Brace yourself for a flurry of earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..3dee605962a5fa10502e724db28416649f160073 --- /dev/null +++ b/news/ASML/2023.01.23/Brace yourself for a flurry of earnings.txt @@ -0,0 +1,38 @@ + +Indeed, this week there will be about 20 earnings releases from very large companies, with a capitalization of more than $100 billion. Among them, Microsoft, Johnson & Johnson or Danaher tomorrow. Tesla, ASML and Abbott on Wednesday, then Visa, LVMH, Mastercard and Intel on Thursday. Before Chevron and American Express on Friday. For the record, U.S. companies in the traditional sectors generally publish before the opening of Wall Street, while technology companies are subscribed to the post-close. In addition to ASML and LVMH, the European agenda this week includes a few other iconic companies, such as Diageo, SAP, Atlas Copco, STMicroelectronics, Sartorius Stedim Biotech and Nokia. + +Why is this important? Because corporate results and forecasts are the reality on the ground for investors who have been juggling conflicting macroeconomic currents for a few weeks. The quality of the figures will affect the morale and perception of investors. When I talk about the reality on the ground, I am talking about the reality of listed companies, which is not entirely representative of the general economic situation. If they face the same backdrop as small businesses, they have many more levers to present their situation in a favorable light. +Last week, financial markets managed to salvage their weekly performance thanks to a rebound on Friday. This did not allow the S&P500 to post a positive weekly balance, as it ended the week -0.66% lower, despite gains of 1.9% on Friday. For the Nasdaq, on the other hand, the 2.86% surge at the close brought the index back into the green for the week, with a small increase of 0.67%. American technology stocks have thus recorded their third week of growth in 2023. +Investors are relying on their favorite triple driver of the moment: a soft economic landing, a recovery in China and the normalization of monetary policy by the Fed. The appetite for risk returns at a pivotal time for the market. Investors didn't pay much attention to the hard-line fringe of the Fed's central bankers last week, who reiterated that there is still a long way to go to overcome inflation. However, they did listen to several other members of the central bank, who were clearly more relaxed and called for a moderation of monetary tightening. Hence the nice acceleration in risk assets to close the week, before entering the hard part of the corporate earnings season starting tomorrow. +The other important element of the week is the Lunar New Year festivities in Asia. Several major stock markets are closed this morning. Shanghai will not open for the week. Trading will not resume until Wednesday in Seoul and Thursday in Hong Kong. Other markets like Singapore and Taiwan are also closed for varying lengths of time. +  +Economic highlights of the day: +Few appointments on the agenda today, apart from the index of leading indicators in the United States, which is not very followed. All the agenda is here.  +The dollar is slightly up to EUR 0.9213 and GBP 0.8106. The ounce of gold fell 0.4% to USD 1918. The North Sea Brent crude rose 1.3% to USD 87.27 per barrel and U.S. light crude WTI 0.9% to USD 81.39. The yield on 10-year US debt bounced back to 3.46%. Bitcoin is trading around its best recent levels, near USD 22,800. +  +In corporate news: +* Salesforce was up nearly 4 percent in pre-market trading after Reuters reports that activist fund Elliott Management has taken a multibillion-dollar stake in the IT group. +* Goldman Sachs asset management arm will significantly reduce its $59 billion in alternative investments that are weighing on the bank's performance, an executive told Reuters. +* Western Digital and Japan's Kioxia Holdings are in advanced discussions for a possible merger that will involve a dual listing, Bloomberg reported Friday. Western Digital shares were up 1.4 percent in premarket trading. +* Apple wants India to account for as much as 25 percent of its production, up from about 5 percent to 7 percent now, India's commerce minister said Monday. +* PayPal Holdings was down 2.1% in premarket trading after the German cartel regulator announced that it was launching proceedings against the group on suspicion of possible antitrust violations. +* Baker Hughes reported a lower-than-expected fourth-quarter profit as the oilfield services company struggled with component shortages, the impact of inflation and disruptions caused by the war in Ukraine. +* Spotify Technology announced plans to cut 6% of its workforce, or about 600 positions. The stock was up 3.5% in pre-market trading. +* Silvergate Capital, a cryptocurrency specialist, assured Friday after-hours that it had limited exposure to Genesis, the latest player in the sector to file for bankruptcy. +* The Abbott Laboratories plant in Michigan, which was at the heart of the 2022 U.S. infant milk shortage due to health problems, is under investigation by the Justice Department, the Wall Street Journal reported Friday. +  +Analyst recommendations: + +Advanced Micro Devices: Barclays upgraded its recommendation to "overweight" from "equal weight" +Applied Materials: Barclays downgrades to underweight from equal-weight. PT down 18% to $90. +Associated British Foods: Deutsche Bank upgrades from hold to buy targeting GBp 2180. +Close Brothers: Investec upgrades to hold from sell. PT down 1.9% to 955 pence. +KLA Corp: Barclays downgrades to underweight from equal-weight. PT down 21% to $325. +Pendragon: Jefferies resumes its Buy rating, targeting GBp 25. +PTC: KeyBanc Capital Markets upgrades to overweight from sector weight. PT up 19% to $155. +Qualcomm: Barclays upgraded its recommendation to "overweight" from "equal weight" +Skyworks: Barclays upgrades to overweight from equal-weight. PT up 21% to $125. +Vodafone: Jefferies remains "Hold" with a price target reduced from GBp 100 to GBp 85. +Warner Music: Barclays downgrades to equal-weight from overweight. PT down 1.6% to $35. +Western Digital: Exane BNP Paribas upgrades to neutral from underperform. PT up 9.2% to $42. + diff --git a/news/ASML/2023.01.25/ASML : Gets a Buy rating from Credit Suisse.txt b/news/ASML/2023.01.25/ASML : Gets a Buy rating from Credit Suisse.txt new file mode 100644 index 0000000000000000000000000000000000000000..374a48673ea0b9309718adb2c89842a253c9503e --- /dev/null +++ b/news/ASML/2023.01.25/ASML : Gets a Buy rating from Credit Suisse.txt @@ -0,0 +1 @@ +Already positive, the research from Credit Suisse and its analyst Adithya Metuku still consider the stock as a Buy opportunity. The target price is set at 767 versus 752 EUR. \ No newline at end of file diff --git a/news/ASML/2023.01.25/ASML : Gets a Buy rating from Goldman Sachs.txt b/news/ASML/2023.01.25/ASML : Gets a Buy rating from Goldman Sachs.txt new file mode 100644 index 0000000000000000000000000000000000000000..ef60926f94a063a697bf19cb911ff775d9068074 --- /dev/null +++ b/news/ASML/2023.01.25/ASML : Gets a Buy rating from Goldman Sachs.txt @@ -0,0 +1 @@ +Alexander Duval from Goldman Sachs retains his positive opinion on the stock with a Buy rating. The target price is set at 765 versus 750 EUR. \ No newline at end of file diff --git a/news/ASML/2023.01.25/ASML : UBS maintains a Buy rating.txt b/news/ASML/2023.01.25/ASML : UBS maintains a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..2abc2006c0ef6762f6627061ba3551384c403378 --- /dev/null +++ b/news/ASML/2023.01.25/ASML : UBS maintains a Buy rating.txt @@ -0,0 +1 @@ +Analyst Francois-Xavier Bouvignies from UBS research considers the stock attractive and recommends it with a Buy rating. The target price is still set at EUR 660. \ No newline at end of file diff --git a/news/ASML/2023.01.25/ASML CEO expects steady China sales in 2023 despite restrictions.txt b/news/ASML/2023.01.25/ASML CEO expects steady China sales in 2023 despite restrictions.txt new file mode 100644 index 0000000000000000000000000000000000000000..f035727beeefa4b350f4ce3494fc6c722c3925e7 --- /dev/null +++ b/news/ASML/2023.01.25/ASML CEO expects steady China sales in 2023 despite restrictions.txt @@ -0,0 +1 @@ +ASML, which dominates the market for machines used in one step of the chipmaking process, was restricted from selling its most advanced EUV machines to Chinese customers in 2019 following U.S. pressure, due to fears they could be used to make chips that have military applications.The company still sends older DUV machines to China, although these are now a focus of the U.S.-Dutch talks. Such sales totalled around 2.16 billion euros ($2.35 billion), or 14% of total revenue, last year, down marginally from 2.17 billion in 2021.In an interview with Reuters following the company's fourth quarter earnings, Wennink said he expected sales to China to be "about the same" this year, adding that orders from Chinese firms make up about 15% of the company's 40 billion euro order backlog.The EUV machines account for 50% of ASML's sales, Wennink said, noting that the company's U.S. peers such as LAM Research and Applied Materials had not had similar restrictions imposed on their own sales to China until Washington announced sweeping new measures in October in a bid to hobble Beijing's chip-making ability.After a meeting with U.S. President Joe Biden last week, Dutch Prime Minister Mark Rutte signalled that while the Netherlands is aligned with the U.S. on security policy, it will not simply adopt the new restrictions. China is the world's biggest consumer of computer chips and Wennink said the first effect of the U.S. rules was to push local chipmakers to invest in capacity, albeit to make slightly less sophisticated chips."They just become very practical," he said, adding that Chinese customers are investing in 20 nanometre chips and larger - those considered cutting edge before the year 2014."This is an area where there is massive shortage." ($1 = 0.9175 euros) (Reporting by Toby Sterling; Editing by Kirsten Donovan)By Toby Sterling \ No newline at end of file diff --git a/news/ASML/2023.01.25/ASML beats earnings forecasts, sees 2023 growth amid China worries.txt b/news/ASML/2023.01.25/ASML beats earnings forecasts, sees 2023 growth amid China worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..8be3704354991fdd69152c7b35c78a99b2025bc0 --- /dev/null +++ b/news/ASML/2023.01.25/ASML beats earnings forecasts, sees 2023 growth amid China worries.txt @@ -0,0 +1,32 @@ +*Q4 net profit 1.82 bln euros (analysts: 1.70 billion)*Revenue 6.43 bln euros (analysts: 6.38 billion euros)*Order backlog record high 40 bln eurosVELDHOVEN, Netherlands, Jan 25 (Reuters) - ASML Holding +NV, Europe's largest technology company, beat +fourth-quarter earnings forecasts on Wednesday and forecast a +rise more than 25% in 2023 sales despite possible new curbs on +its exports to China.The maker of equipment to produce semiconductors has +struggled to meet demand as top customers TSMC, +Samsung and Intel are all engaged in major +expansions.It said its order backlog had grown to a record 40 billion +euros ($43.62 billion) at the end of the year.Credit Suisse analysts said the earnings may be "taken +negatively" by the market, given recent rallies in the company's +share price, up 22% in January and up 55% from October lows."However, ASML’s structural prospects remain unchanged," +they said in a note.Shares were down 1.7% at 605.40 euros at 0744 GMT.CEO Peter Wennink said that although the economic outlook +for 2023 is clouded by worries over the economy and growing +semiconductor inventories, customers also see conditions +improving toward the end of the year and China's economy +recovering after the end of COVID-19 curbs."That means that the demand is still higher than what we can +make," he said.CHINAThe numbers come a week after U.S. President Joe Biden and +Dutch Prime Minister Mark Rutte discussed possible new export +restrictions on some of ASML's sales to customers in China due +to security concerns.Wennink currently said "nothing has changed" regarding +ASML's exports to China despite the United States imposing new +export restrictions on its own companies in October.""We just have to wait for the governments and the +politicians to keep talking and come to a reasonable solution +(on possible restrictions)," Wennink said."We can still ship DUV (older) ... tools" to mainland China, +Wennink said.The company had China sales worth 2.16 billion euros in 2022 +accounting for 14% of its total revenue. It was the firm's third +biggest market behind Taiwan and South Korea.Veldhoven, Netherlands-based ASML reported fourth-quarter +net profit of 1.82 billion euros, up from 1.77 billion a year +earlier, on revenue of 6.43 billion euros.That beat analyst forecasts for a net profit of 1.70 billion +euros on sales of 6.38 billion, Refinitiv Eikon data showed.($1 = 0.9169 euros) +(Reporting by Toby Sterling; editing by Christopher Cushing and +Jason Neely) \ No newline at end of file diff --git a/news/ASML/2023.01.25/ASML reports net profit of $1.98 billion in Q4, sees 25% sales growth in 2023.txt b/news/ASML/2023.01.25/ASML reports net profit of $1.98 billion in Q4, sees 25% sales growth in 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..526e9884046aea21f9384ea3f6fdde934b62b5f6 --- /dev/null +++ b/news/ASML/2023.01.25/ASML reports net profit of $1.98 billion in Q4, sees 25% sales growth in 2023.txt @@ -0,0 +1 @@ +The company had fourth-quarter net profit of 1.82 billion euros ($1.98 billion), up from net profit of 1.77 billion euros in the same period a year earlier, on record revenues of 6.43 billion euros.Analysts had forecast net profit of 1.70 billion euros on sales of 6.38 billion euros according to Refinitiv data.($1 = 0.9179 euros) (Reporting by Toby Sterling; Editing by Tom Hogue) \ No newline at end of file diff --git "a/news/ASML/2023.01.25/ASML reports \302\20021.2 billion net sales and \302\2005.6 billion net income in 2022.txt" "b/news/ASML/2023.01.25/ASML reports \302\20021.2 billion net sales and \302\2005.6 billion net income in 2022.txt" new file mode 100644 index 0000000000000000000000000000000000000000..1efd9aec0092c5d6f2b7919690e081318fdca937 --- /dev/null +++ "b/news/ASML/2023.01.25/ASML reports \302\20021.2 billion net sales and \302\2005.6 billion net income in 2022.txt" @@ -0,0 +1,3 @@ +ASML reports €21.2 billion net sales and €5.6 billion net income in 2022Despite challenging environment, continued strong sales growth expected in 2023 VELDHOVEN, the Netherlands, January 25, 2023 – today ASML Holding NV (ASML) has published its 2022 fourth-quarter and full-year results. (*) A fast shipment process skips some of the testing in our factory. Final testing and formal acceptance then takes place at the customer site. This leads to a deferral of revenue recognition for those shipments until formal customer acceptance, but does provide our customers with earlier access to wafer output capacity.(1) Installed Base Management sales equals our net service and field option sales(2) Net bookings include all system sales orders and inflation related adjustments, for which written authorizations have been accepted. Numbers have been rounded for readers' convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.comCEO statement and outlook"Our fourth-quarter net sales came in around the midpoint of our guidance at €6.4 billion. The gross margin of 51.5% was above our guidance due to additional upgrades and insurance settlement for last year's ASML Berlin fire. "For ASML, 2022 was another strong year ending with total net sales for the year of €21.2 billion, gross margin of 50.5% and a record backlog at the end of 2022 of €40.4 billion."We continue to see uncertainty in the market caused by inflation, rising interest rates, risk of recession and geopolitical developments related to export controls. However, our customers indicate that they expect the market to rebound in the second half of the year. Considering our order lead times and the strategic nature of lithography investments, demand for our systems therefore remains strong. "For 2023, ASML expects continued strong growth with a net sales increase of more than 25% and a slight improvement in gross margin, relative to 2022. We expect first-quarter net sales between €6.1 billion and €6.5 billion with a gross margin between 49% and 50%. ASML expects R&D costs of around €965 million and SG&A costs of around €285 million," said ASML President and Chief Executive Officer Peter Wennink. Update share buyback program and dividend proposalIn the fourth quarter we purchased around €300 million worth of shares under the previous, completed share buyback program and the current 2022-2025 program. ASML intends to declare a total dividend for the year 2022 of €5.80 per ordinary share, which is a 5.5% increase compared to 2021. An interim dividend of €1.37 per ordinary share will be made payable on February 15, 2023.Recognizing this interim dividend and the two interim dividends of €1.37 per ordinary share paid in 2022, this leads to a final dividend proposal to the General Meeting of €1.69 per ordinary share.Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend proposal are published on ASML's website (www.asml.com/investors). Quarterly video interview, investor call and annual press conferenceWith this press release, ASML has published a video interview in which CEO Peter Wennink discusses the 2022 fourth-quarter and full-year results and outlook for 2023. This video and the transcript can be viewed on www.asml.com.CEO Peter Wennink and CFO Roger Dassen will host a press conference in Veldhoven on January 25, 2023, at 11:00 Central European Time, which will also be accessible via a live webcast on www.asml.com.An investor call for both investors and the media will be hosted by CEO Peter Wennink and CFO Roger Dassen on January 25, 2023 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website. About ASMLASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity's toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across Europe, the US and Asia. Every day, ASML’s more than 39,000 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at www.asml.com. US GAAP and IFRS Financial Reporting ASML's primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly US GAAP consolidated statements of operations, consolidated statements of cash flows and consolidated balance sheets are available on www.asml.com.The consolidated balance sheets of ASML Holding N.V. as of December 31, 2022, the related consolidated statements of operations and consolidated statements of cash flows for the quarter and twelve months ended December 31, 2022 as presented in this press release are unaudited.In addition to reporting financial figures in accordance with US GAAP, ASML also reports financial figures in accordance with International Financial Reporting Standards as adopted by the European Union ('IFRS') for statutory purposes. The most significant recurring differences between US GAAP and IFRS that affect ASML concerns the capitalization of certain product development costs and accounting for income taxes.2022 Annual ReportsASML will publish its 2022 Annual Report based on US GAAP and its 2022 Annual Report based on IFRS on February 15, 2023. The reports will be published on our website, www.asml.com.Regulated informationThis press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.Forward Looking StatementsThis document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including trends in semiconductor end markets and technology industry and business environment trends, statements with respect to demand and capacity, plans to increase capacity and capacity goals, outlook, backlog, bookings and orders, expected financial results, including expected net sales, gross margin, R&D costs, SG&A costs and estimated annualized effective tax rate for Q1 and full year 2023, expected shipments in 2023 including expected shipments of EUV and DUV systems, expected growth in EUV, non-EUV and IBM sales in 2023, statements made at our 2022 Investor Day including revenue and gross margin opportunity for 2025 and 2030, statements with respect to fast shipments including estimates of amounts of deferred revenue not yet recognized and expected timing of recognition of such deferred revenue for fast shipments, including deferred revenue from fast shipments in 2022 expected to be recognized in 2023, expected customer demand trends including expected rebound in second half of the year, statements about the market and macroeconomic trends including global megatrends, long-term growth opportunity, statements with respect to the geopolitical situation and export control policy and restrictions, statements with respect to capital allocation policy including plans to return significant amounts of cash thought growing dividends and buybacks and statements with respect to the Q4 interim and final 2022 dividend and statements with respect to share buyback programs, aim to improve ESG sustainability KPIs and upgrade ESG sustainability strategy and other non-historical statements. You can generally identify these statements by the use of words like “may”, “will”, “could”, “should”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “intend”, “continue”, “target”, “future”, “progress”, “goal” and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, economic conditions, product demand and semiconductor equipment industry capacity, worldwide demand and manufacturing capacity utilization for semiconductors, trends in the semi-conductor industry, the impact of general economic conditions including the impact of the current macroeconomic uncertainty in the market and in consumer confidence, inflation, rising interest rates, geopolitical developments, the risk of a recession, demand for our customers’ products, performance of our systems, the impact of the COVID-19 outbreak and measures taken to contain it on us, our suppliers, the global economy and financial markets, the impact of the Russian military actions in the Ukraine and measures taken in response on the global economy and global financial markets and other factors that may impact ASML’s financial results, including customer demand and ASML’s ability to obtain parts and components for its products and otherwise meet demand, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products, production capacity and our ability to increase capacity to meet demand, the impact of inflation, the number and timing of systems ordered, shipped and recognized in revenue, and the risk of order cancellation or push out, supply chain capacity and constraints and logistics and constraints on our ability to produce systems to meet demand, the timing of recognition of deferred revenue from fast shipments and impact on our results, the impact of the gas shortage on us and our suppliers, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, availability of raw materials, critical manufacturing equipment and qualified employees, trade environment, import/export and national security regulations and orders and their impact on us including the impact of the recently updated US export regulations, changes in exchange and tax rates, available liquidity and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, results of the share repurchase programs, our ability to meet ESG goals and improve ESG KPIs and upgrade ESG strategy and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F for the year ended December 31, 2021 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law. +Attachments +2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ASML/2023.01.25/Asml : Q4 Earnings Snapshot.txt b/news/ASML/2023.01.25/Asml : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..ba8c2a05b507102d71e93e7acfe281aee2831877 --- /dev/null +++ b/news/ASML/2023.01.25/Asml : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +DR VELDHOVEN, Netherlands (AP) _ ASML Holding NV (ASML) on Wednesday reported fourth-quarter earnings of $1.85 billion.On a per-share basis, the Dr Veldhoven, Netherlands-based company said it had net income of $4.70.The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $4.62 per share.The equipment supplier to semiconductor makers posted revenue of $6.57 billion in the period.For the year, the company reported profit of $5.93 billion, or $14.89 per share. Revenue was reported as $16.26 billion.ASML shares have risen 23% since the beginning of the year. The stock has declined 2.5% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ASML at https://www.zacks.com/ap/ASMLCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/ASML/2023.01.25/Asml N : Despite challenging environment, continued strong sales growth expected in 2023 -...txt b/news/ASML/2023.01.25/Asml N : Despite challenging environment, continued strong sales growth expected in 2023 -...txt new file mode 100644 index 0000000000000000000000000000000000000000..cb4c32ccb7c44225ad13b62ba917e4ef648ad7a4 --- /dev/null +++ b/news/ASML/2023.01.25/Asml N : Despite challenging environment, continued strong sales growth expected in 2023 -...txt @@ -0,0 +1,502 @@ + + + Despite challenging environment, continued strong sales growth expected in 2023 + + + + + + VELDHOVEN, the Netherlands, January 25, 2023 - today ASML Holding NV (ASML) has published its 2022 fourth-quarter and full-year results. + + + + + + •Q4 net sales of €6.4 billion, gross margin of 51.5%, net income of €1.8 billion + + + •Quarterly net bookings in Q4 of €6.3 billion2of which €3.4 billion is EUV + + + •2022 net sales of €21.2 billion, gross margin of 50.5%, net income of €5.6 billion + + + •ASML expects 2023 net sales to grow over 25% compared to 2022 + + + •ASML expects Q1 2023 net sales between €6.1 billion and €6.5 billion and a gross margin between 49% and 50% + + + •The value of fast shipments* in 2022 leading to delayed revenue recognition into 2023 is around €3.1 billion + + + •ASML intends to declare a total dividend for the year 2022 of €5.80 per ordinary share; a 5.5% increase compared to 2021 + + + + + + (*) A fast shipment process skips some of the testing in our factory. Final testing and formal acceptance then takes place at the customer site. This leads to a deferral of revenue recognition for those shipments until formal customer acceptance, but does provide our customers with earlier access to wafer output capacity. + + + + + + + + + + (Figures in millions of euros unless otherwise indicated) + + + Q3 2022 + + + Q4 2022 + + + FY 2021 + + + FY 2022 + + + + + Net sales + + + 5,778 + + + 6,430 + + + 18,611 + + + 21,173 + + + + + + ...of which Installed Base Management sales 1 + + + + 1,524 + + + 1,682 + + + 4,958 + + + 5,743 + + + + + + + + + New lithography systems sold (units) + + + 80 + + + 95 + + + 286 + + + 317 + + + + + Used lithography systems sold (units) + + + 6 + + + 11 + + + 23 + + + 28 + + + + + + + + + + Net bookings 2 + + + + + + + 8,920 + + + 6,316 + + + 26,240 + + + 30,674 + + + + + + + + + Gross profit + + + 2,994 + + + 3,311 + + + 9,809 + + + 10,700 + + + + + Gross margin (%) + + + 51.8 + + + 51.5 + + + 52.7 + + + 50.5 + + + + + + + + + Net income + + + 1,701 + + + 1,817 + + + 5,883 + + + 5,624 + + + + + EPS (basic; in euros) + + + 4.29 + + + 4.60 + + + 14.36 + + + 14.14 + + + + + + + + + End-quarter cash and cash equivalents and short-term investments + + + 3,363 + + + 7,376 + + + 7,590 + + + 7,376 + + + + + + (1) Installed Base Management sales equals our net service and field option sales + + + (2) Net bookings include all system sales orders and inflation related adjustments, for which written authorizations have been accepted. + + + Numbers have been rounded for readers' convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com + + + + + + CEO statement and outlook + + + "Our fourth-quarter net sales came in around the midpoint of our guidance at €6.4 billion. The gross margin of 51.5% was above our guidance due to additional upgrades and insurance settlement for last year's ASML Berlin fire. + + + + + + "For ASML, 2022 was another strong year ending with total net sales for the year of €21.2 billion, gross margin of 50.5% and a record backlog at the end of 2022 of €40.4 billion. + + + + + + "We continue to see uncertainty in the market caused by inflation, rising interest rates, risk of recession and geopolitical developments related to export controls. However, our customers indicate that they expect the market to rebound in the second half of the year. Considering our order lead times and the strategic nature of lithography investments, demand for our systems therefore remains strong. + + + + + + + 1 + + + + + + + + + + + + + "For 2023, ASML expects continued strong growth with a net sales increase of more than 25% and a slight improvement in gross margin, relative to 2022. We expect first-quarter net sales between €6.1 billion and €6.5 billion with a gross margin between 49% and 50%. ASML expects R&D costs of around €965 million and SG&A costs of around €285 million," said ASML President and Chief Executive Officer Peter Wennink. + + + + + + Update share buyback program and dividend proposal + + + In the fourth quarter we purchased around €300 million worth of shares under the previous, completed share buyback program and the current 2022-2025 program. + + + + + + ASML intends to declare a total dividend for the year 2022 of €5.80 per ordinary share, which is a 5.5% increase compared to 2021. An interim dividend of €1.37 per ordinary share will be made payable on February 15, 2023. + + + Recognizing this interim dividend and the two interim dividends of €1.37 per ordinary share paid in 2022, this leads to a final dividend proposal to the General Meeting of €1.69 per ordinary share. + + + Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend proposal are published on ASML's website (www.asml.com/investors). + + + + + + + + + + + + + + Media Relations contacts + + + + + Investor Relations contacts + + + + + + Monique Mols +31 6 5284 4418 + + + Skip Miller +1 480 235 0934 + + + + + + Ryan Young +1 480 205 8659 + + + + Marcel Kemp +31 40 268 6494 + + + + + Karen Lo +886 939788635 + + + Peter Cheang +886 3 659 6771 + + + + + + + + + Quarterly video interview, investor call and annual press conference + + + With this press release, ASML has published a video interview in which CEO Peter Wennink discusses the 2022 fourth-quarter and full-year results and outlook for 2023. This video and the transcript can be viewed on www.asml.com. + + + + + + CEO Peter Wennink and CFO Roger Dassen will host a press conference in Veldhoven on January 25, 2023, at 11:00 Central European Time, which will also be accessible via a live webcast on www.asml.com. + + + + + + An investor call for both investors and the media will be hosted by CEO Peter Wennink and CFO Roger Dassen on January 25, 2023 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website. + + + + + + About ASML + + + ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity's toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across Europe, the US and Asia. Every day, ASML's more than 39,000 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML - our products, technology and career opportunities - at www.asml.com. + + + + + + US GAAP and IFRS Financial Reporting + + + ASML's primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly US GAAP consolidated statements of operations, consolidated statements of cash flows and consolidated balance sheets are available on www.asml.com. + + + The consolidated balance sheets of ASML Holding N.V. as of December 31, 2022, the related consolidated statements of operations and consolidated statements of cash flows for the quarter and twelve months ended December 31, 2022 as presented in this press release are unaudited. + + + + 2 + + + + + + + + + + In addition to reporting financial figures in accordance with US GAAP, ASML also reports financial figures in accordance with International Financial Reporting Standards as adopted by the European Union ('IFRS') for statutory purposes. The most significant recurring differences between US GAAP and IFRS that affect ASML concerns the capitalization of certain product development costs and accounting for income taxes. + + + 2022 Annual Reports + + + ASML will publish its 2022 Annual Report based on US GAAP and its 2022 Annual Report based on IFRS on February 15, 2023. The reports will be published on our website, www.asml.com. + + + + + + Regulated information + + + This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. + + + + + + + 3 + + + + + + + + + + Forward Looking Statements + + + This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including trends in semiconductor end markets and technology industry and business environment trends, statements with respect to demand and capacity, plans to increase capacity and capacity goals, outlook, backlog, bookings and orders, expected financial results, including expected net sales, gross margin, R&D costs, SG&A costs and estimated annualized effective tax rate for Q1 and full year 2023, expected shipments in 2023 including expected shipments of EUV and DUV systems, expected growth in EUV, non-EUV and IBM sales in 2023, statements made at our 2022 Investor Day including revenue and gross margin opportunity for 2025 and 2030, statements with respect to fast shipments including estimates of amounts of deferred revenue not yet recognized and expected timing of recognition of such deferred revenue for fast shipments, including deferred revenue from fast shipments in 2022 expected to be recognized in 2023, expected customer demand trends including expected rebound in second half of the year, statements about the market and macroeconomic trends including global megatrends, long-term growth opportunity, statements with respect to the geopolitical situation and export control policy and restrictions, statements with respect to capital allocation policy including plans to return significant amounts of cash thought growing dividends and buybacks and statements with respect to the Q4 interim and final 2022 dividend and statements with respect to share buyback programs, aim to improve ESG sustainability KPIs and upgrade ESG sustainability strategy and other non-historical statements. You can generally identify these statements by the use of words like "may", "will", "could", "should", "project", "believe", "anticipate", "expect", "plan", "estimate", "forecast", "potential", "intend", "continue", "target", "future", "progress", "goal" and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, economic conditions, product demand and semiconductor equipment industry capacity, worldwide demand and manufacturing capacity utilization for semiconductors, trends in the semi-conductor industry, the impact of general economic conditions including the impact of the current macroeconomic uncertainty in the market and in consumer confidence, inflation, rising interest rates, geopolitical developments, the risk of a recession, demand for our customers' products, performance of our systems, the impact of the COVID-19 outbreak and measures taken to contain it on us, our suppliers, the global economy and financial markets, the impact of the Russian military actions in the Ukraine and measures taken in response on the global economy and global financial markets and other factors that may impact ASML's financial results, including customer demand and ASML's ability to obtain parts and components for its products and otherwise meet demand, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products, production capacity and our ability to increase capacity to meet demand, the impact of inflation, the number and timing of systems ordered, shipped and recognized in revenue, and the risk of order cancellation or push out, supply chain capacity and constraints and logistics and constraints on our ability to produce systems to meet demand, the timing of recognition of deferred revenue from fast shipments and impact on our results, the impact of the gas shortage on us and our suppliers, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, availability of raw materials, critical manufacturing equipment and qualified employees, trade environment, import/export and national security regulations and orders and their impact on us including the impact of the recently updated US export regulations, changes in exchange and tax rates, available liquidity and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, results of the share repurchase programs, our ability to meet ESG goals and improve ESG KPIs and upgrade ESG strategy and other risks indicated in the risk factors included in ASML's Annual Report on Form 20-F for the year ended December 31, 2021 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law. + + + + + + + 4 + + + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +ASML Holding NV published this content on 25 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2023 11:07:06 UTC. + + diff --git a/news/ASML/2023.01.25/Asml N : Presentation Investor Relations.txt b/news/ASML/2023.01.25/Asml N : Presentation Investor Relations.txt new file mode 100644 index 0000000000000000000000000000000000000000..fd8453497e73a5186520e06070ed44f6a1fbe4a1 --- /dev/null +++ b/news/ASML/2023.01.25/Asml N : Presentation Investor Relations.txt @@ -0,0 +1,170 @@ + + + + ASML reports €21.2 billion net sales and €5.6 billion net income in 2022 + + + Despite challenging environment, continued strong sales growth expected in 2023 + + + ASML 2022 Fourth-Quarter and Full-Year results + + + Veldhoven, the Netherlands + + + January 25, 2023 + + + + + + Agenda + + + +Investor key messages + + +Business summary + + +Outlook + + +Financial statements + + + + + + + + + January 25, 2023 + + + + + Page 2 + + + + + + + + + + Investor key messages + + + + + + + + January 25, 2023 + + + + + Page 3 + + + + + + + + + + Investor key messages + + + +Global megatrends in the electronics industry, supported by a highly profitable and fiercely innovative ecosystem, are expected to continue to fuel growth across the semiconductor market + + +Growth in semiconductor end markets and increasing lithography intensity are driving demand for our products and services + + +ASML's comprehensive product portfolio is aligned with our customers' roadmaps, delivering cost effective solutions in support of all applications from leading edge to mature nodes + + +Based on different market scenarios1 as presented during our Investor Day in November 2022, we modeled an opportunity to reach annual revenue in 2025 between approximately €30 billion and €40 billion, with a gross margin between approximately 54% and 56% and in 2030 an annual revenue between approximately €44 billion and €60 billion, with a gross margin between approximately 56% and 60% + + +ASML and its supply chain partners are actively adding and improving capacity to meet current and future customer demand + + +We are continuously striving toimprove our performance on ESG Sustainability and are upgrading our ESG Sustainability strategy to accelerate progress + + +We expect to continue to return significant amounts of cash to our shareholders through a combination of growing dividends and share buybacks + + + + + + + + + January 25, 2023 + + + + +1 based on third party research and our assumptions + + + + + Page 4 + + + + + + + + + + Business summary + + + + + + + + January 25, 2023 + + + + + Page 5 + + + + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +ASML Holding NV published this content on 25 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2023 08:06:06 UTC. + + diff --git a/news/ASML/2023.01.25/Asml N : Q4 2022.txt b/news/ASML/2023.01.25/Asml N : Q4 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..292bc2e8f30bbff2dcf151355d712a338861e0e1 --- /dev/null +++ b/news/ASML/2023.01.25/Asml N : Q4 2022.txt @@ -0,0 +1,558 @@ + + + + ASML reports €21.2 billion net sales and €5.6 billion net income in 2022 + + + Despite challenging environment, continued strong sales growth expected in 2023 + + + VELDHOVEN, the Netherlands, January 25, 2023 - today ASML Holding NV (ASML) has published its 2022 fourth- quarter and full-year results. + + + +Q4 net sales of €6.4 billion, gross margin of 51.5%, net income of €1.8 billion + + +Quarterly net bookings in Q4 of €6.3 billion2 of which €3.4 billion is EUV + + +2022 net sales of €21.2 billion, gross margin of 50.5%, net income of €5.6 billion + + +ASML expects 2023 net sales to grow over 25% compared to 2022 + + +ASML expects Q1 2023 net sales between €6.1 billion and €6.5 billion and a gross margin between 49% and 50% + + +The value of fast shipments* in 2022 leading to delayed revenue recognition into 2023 is around €3.1 billion + + +ASML intends to declare a total dividend for the year 2022 of €5.80 per ordinary share; a 5.5% increase compared to 2021 + (*) A fast shipment process skips some of the testing in our factory. Final testing and formal acceptance then takes place at the customer site. This leads to a deferral of revenue recognition for those shipments until formal customer acceptance, but does provide our customers with earlier access to wafer output capacity. + + + + + + + (Figures in millions of euros unless otherwise indicated) + + + + + Q3 2022 + + + + + Q4 2022 + + + + + FY 2021 + + + + + FY 2022 + + + + + + + Net sales + + + + + 5,778 + + + + + 6,430 + + + + + 18,611 + + + + + 21,173 + + + + + + + ...of which Installed Base Management sales 1 + + + + + 1,524 + + + + + 1,682 + + + + + 4,958 + + + + + 5,743 + + + + + + + New lithography systems sold (units) + + + + + 80 + + + + + 95 + + + + + 286 + + + + + 317 + + + + + + + Used lithography systems sold (units) + + + + + 6 + + + + + 11 + + + + + 23 + + + + + 28 + + + + + + + + + + + + + + + + + + + Net bookings 2 + + + + + 8,920 + + + + + 6,316 + + + + + 26,240 + + + + + 30,674 + + + + + + + + + + + + + + + + + + + Gross profit + + + + + 2,994 + + + + + 3,311 + + + + + 9,809 + + + + + 10,700 + + + + + + + Gross margin (%) + + + + + 51.8 + + + + + 51.5 + + + + + 52.7 + + + + + 50.5 + + + + + + + Net income + + + + + 1,701 + + + + + 1,817 + + + + + 5,883 + + + + + 5,624 + + + + + + + EPS (basic; in euros) + + + + + 4.29 + + + + + 4.60 + + + + + 14.36 + + + + + 14.14 + + + + + + + End-quarter cash and cash equivalents and short-term + + + + + 3,363 + + + + + 7,376 + + + + + 7,590 + + + + + 7,376 + + + + + + + investments + + + + + + + + + + + + + + +Installed Base Management sales equals our net service and field option sales + + +Net bookings include all system sales orders and inflation related adjustments, for which written authorizations have been accepted. + + + + Numbers have been rounded for readers' convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com + + + CEO statement and outlook + + + "Our fourth-quarter net sales came in around the midpoint of our guidance at €6.4 billion. The gross margin of 51.5% was above our guidance due to additional upgrades and insurance settlement for last year's ASML Berlin fire. + + + "For ASML, 2022 was another strong year ending with total net sales for the year of €21.2 billion, gross margin of 50.5% and a record backlog at the end of 2022 of €40.4 billion. + + + 1 + + + Public + + + + + "We continue to see uncertainty in the market caused by inflation, rising interest rates, risk of recession and geopolitical developments related to export controls. However, our customers indicate that they expect the market to rebound in the second half of the year. Considering our order lead times and the strategic nature of lithography investments, demand for our systems therefore remains strong. + + + "For 2023, ASML expects continued strong growth with a net sales increase of more than 25% and a slight improvement in gross margin, relative to 2022. We expect first-quarter net sales between €6.1 billion and €6.5 billion with a gross margin between 49% and 50%. ASML expects R&D costs of around €965 million and SG&A costs of around €285 million," said ASML President and Chief Executive Officer Peter Wennink. + + + Update share buyback program and dividend proposal + + + In the fourth quarter we purchased around €300 million worth of shares under the previous, completed share buyback program and the current 2022-2025 program. + + + ASML intends to declare a total dividend for the year 2022 of €5.80 per ordinary share, which is a 5.5% increase compared to 2021. An interim dividend of €1.37 per ordinary share will be made payable on February 15, 2023. Recognizing this interim dividend and the two interim dividends of €1.37 per ordinary share paid in 2022, this leads to a final dividend proposal to the General Meeting of €1.69 per ordinary share. + + + Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend proposal are published on ASML's website (www.asml.com/investors). + + + + + + Media Relations contacts + + + + + Investor Relations contacts + + + + + + + Monique Mols +31 6 5284 4418 + + + + + Skip Miller +1 480 235 0934 + + + + + + + Ryan Young +1 480 205 8659 + + + + + Marcel Kemp +31 40 268 6494 + + + + + + + Karen Lo +886 939788635 + + + + + Peter Cheang +886 3 659 6771 + + + + + + Quarterly video interview, investor call and annual press conference + + + With this press release, ASML has published a video interview in which CEO Peter Wennink discusses the 2022 fourth- quarter and full-year results and outlook for 2023. This video and the transcript can be viewed on www.asml.com. + + + CEO Peter Wennink and CFO Roger Dassen will host a press conference in Veldhoven on January 25, 2023, at 11:00 Central European Time, which will also be accessible via a live webcast on www.asml.com. + + + An investor call for both investors and the media will be hosted by CEO Peter Wennink and CFO Roger Dassen on January 25, 2023 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website. + + + About ASML + + + ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity's toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across Europe, the US and Asia. Every day, ASML's more than 39,000 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML - our products, technology and career opportunities - at www.asml.com. + + + 2 + + + Public + + + + + US GAAP and IFRS Financial Reporting + + + ASML's primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly US GAAP consolidated statements of operations, consolidated statements of cash flows and consolidated balance sheets are available on www.asml.com. + + + The consolidated balance sheets of ASML Holding N.V. as of December 31, 2022, the related consolidated statements of operations and consolidated statements of cash flows for the quarter and twelve months ended December 31, 2022 as presented in this press release are unaudited. + + + In addition to reporting financial figures in accordance with US GAAP, ASML also reports financial figures in accordance with International Financial Reporting Standards as adopted by the European Union ('IFRS') for statutory purposes. The most significant recurring differences between US GAAP and IFRS that affect ASML concerns the capitalization of certain product development costs and accounting for income taxes. + + + 2022 Annual Reports + + + ASML will publish its 2022 Annual Report based on US GAAP and its 2022 Annual Report based on IFRS on February 15, 2023. The reports will be published on our website, www.asml.com. + + + Regulated information + + + This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. + + + 3 + + + Public + + + + + Forward Looking Statements + + + This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including trends in semiconductor end markets and technology industry and business environment trends, statements with respect to demand and capacity, plans to increase capacity and capacity goals, outlook, backlog, bookings and orders, expected financial results, including expected net sales, gross margin, R&D costs, SG&A costs and estimated annualized effective tax rate for Q1 and full year 2023, expected shipments in 2023 including expected shipments of EUV and DUV systems, expected growth in EUV, non-EUV and IBM sales in 2023, statements made at our 2022 Investor Day including revenue and gross margin opportunity for 2025 and 2030, statements with respect to fast shipments including estimates of amounts of deferred revenue not yet recognized and expected timing of recognition of such deferred revenue for fast shipments, including deferred revenue from fast shipments in 2022 expected to be recognized in 2023, expected customer demand trends including expected rebound in second half of the year, statements about the market and macroeconomic trends including global megatrends, long-term growth opportunity, statements with respect to the geopolitical situation and export control policy and restrictions, statements with respect to capital allocation policy including plans to return significant amounts of cash thought growing dividends and buybacks and statements with respect to the Q4 interim and final 2022 dividend and statements with respect to share buyback programs, aim to improve ESG sustainability KPIs and upgrade ESG sustainability strategy and other non-historical statements. You can generally identify these statements by the use of words like "may", "will", "could", "should", "project", "believe", "anticipate", "expect", "plan", "estimate", "forecast", "potential", "intend", "continue", "target", "future", "progress", "goal" and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, economic conditions, product demand and semiconductor equipment industry capacity, worldwide demand and manufacturing capacity utilization for semiconductors, trends in the semi-conductor industry, the impact of general economic conditions including the impact of the current macroeconomic uncertainty in the market and in consumer confidence, inflation, rising interest rates, geopolitical developments, the risk of a recession, demand for our customers' products, performance of our systems, the impact of the COVID-19 outbreak and measures taken to contain it on us, our suppliers, the global economy and financial markets, the impact of the Russian military actions in the Ukraine and measures taken in response on the global economy and global financial markets and other factors that may impact ASML's financial results, including customer demand and ASML's ability to obtain parts and components for its products and otherwise meet demand, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products, production capacity and our ability to increase capacity to meet demand, the impact of inflation, the number and timing of systems ordered, shipped and recognized in revenue, and the risk of order cancellation or push out, supply chain capacity and constraints and logistics and constraints on our ability to produce systems to meet demand, the timing of recognition of deferred revenue from fast shipments and impact on our results, the impact of the gas shortage on us and our suppliers, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, availability of raw materials, critical manufacturing equipment and qualified employees, trade environment, import/export and national security regulations and orders and their impact on us including the impact of the recently updated US export regulations, changes in exchange and tax rates, available liquidity and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, results of the share repurchase programs, our ability to meet ESG goals and improve ESG KPIs and upgrade ESG strategy and other risks indicated in the risk factors included in ASML's Annual Report on Form 20-F for the year ended December 31, 2021 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law. + + + 4 + + + Public + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +ASML Holding NV published this content on 25 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2023 14:38:11 UTC. + + diff --git "a/news/ASML/2023.01.25/Asml ceo says despite politics \"we can still ship duv\" semicondu\342\200\246.txt" "b/news/ASML/2023.01.25/Asml ceo says despite politics \"we can still ship duv\" semicondu\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..f3e293626dfe6b9289fbc09195c6e24d3dfa7489 --- /dev/null +++ "b/news/ASML/2023.01.25/Asml ceo says despite politics \"we can still ship duv\" semicondu\342\200\246.txt" @@ -0,0 +1 @@ +ASML CEO SAYS DESPITE POLITICS "WE CAN STILL SHIP DUV" SEMICONDUCTOR TOOLS TO CHINA -STATEMENT \ No newline at end of file diff --git a/news/ASML/2023.01.25/European shares slip as investors weigh earnings reports.txt b/news/ASML/2023.01.25/European shares slip as investors weigh earnings reports.txt new file mode 100644 index 0000000000000000000000000000000000000000..389e93ac52f37dad6837c32e808835e9fee51488 --- /dev/null +++ b/news/ASML/2023.01.25/European shares slip as investors weigh earnings reports.txt @@ -0,0 +1 @@ +The pan-European STOXX 600 fell 0.2% by 0816 GMT, with technology and financials declining the most.Shares of ASML Holding NV lost 2% and were among the top drags on the STOXX 600, despite forecasting sales growth of more than 25% for 2023.Lonza Group AG fell 2.8%, even as the Swiss drug contract manufacturer reaffirmed its longer-term growth prospects.The STOXX 600 had snapped two days of gains in the prior session, as an improvement in economic activity spurred speculation that the European Central Bank (ECB) might have more room to raise interest rates to tackle inflation.Investors will monitor Germany's 2023 annual economic report in Berlin due at 1315 GMT amid easing fears of a recession in the euro zone's largest economy.EasyJet PLC jumped 9.2% after projecting it would beat current market expectations for 2023 and deliver a full-year profit. (Reporting by Ankika Biswas in Bengaluru; Editing by Subhranshu Sahu) \ No newline at end of file diff --git a/news/ASML/2023.01.25/Exclusive-Dutch officials headed to Washington to talk controls on chipmaking gear - so...txt b/news/ASML/2023.01.25/Exclusive-Dutch officials headed to Washington to talk controls on chipmaking gear - so...txt new file mode 100644 index 0000000000000000000000000000000000000000..bcffee23980ffd91827ddc6a935a0125f8078b5e --- /dev/null +++ b/news/ASML/2023.01.25/Exclusive-Dutch officials headed to Washington to talk controls on chipmaking gear - so...txt @@ -0,0 +1 @@ +A deal could be announced as soon as Friday if the two sides can agree on the details, said one of the sources, speaking on condition of anonymity. The source added that it was possible that any deal reached might not be announced immediately.The Biden administration in October published wide-ranging export controls, including measures tightly restricting Chinese access to U.S. chipmaking technology, as part of an effort to slow Beijing's technological and military advances.But it has not yet convinced key allies, most notably the Netherlands and Japan, to implement similar equipment curbs seen as essential to making the restrictions effective.The Netherlands is home to ASML Holding, the world's leading maker of lithography equipment, which is critical for making semiconductors. The second person familiar with the matter said a central concern for negotiators is that even small supply chain changes could reignite a global chip shortage that has eased in recent months but created havoc in supply chains for the past two years. Dutch officials are also adamant the controls be tailored to national security concerns and not give the appearance that the United States is trying to favor its own chipmaking industry, said the second source.The Dutch Foreign Ministry declined to comment. U.S. officials did not respond immediately to a request for comment. In a press conference with reporters after ASML reported fourth quarter earnings on Wednesday, CEO Peter Wennink said an export control deal may be close and that his company does not participate in the political talks. However, he said that while a deal may be announced soon, it is less clear whether the technical details of any regulations have been resolved. (Additional reporting by Toby Sterling in Amsterdam; Writing by Stephen Nellis in San Francisco; Editing by Don Durfee and Daniel Wallis)By Michael Martina \ No newline at end of file diff --git a/news/ASML/2023.01.25/Marketmind: Cloudy outlook.txt b/news/ASML/2023.01.25/Marketmind: Cloudy outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..30c43da88a0e108d583093b0838339dfbd4319a2 --- /dev/null +++ b/news/ASML/2023.01.25/Marketmind: Cloudy outlook.txt @@ -0,0 +1 @@ +With market visibility extremely low, bouts of optimism about peak interest rates this year are being repeatedly punctured by the related fear of falling demand and the prospect of a looming profits recession.And deep in the weeds of the fourth-quarter corporate earnings season, Microsoft's overnight rollercoaster probably defines the uncertainty.Microsoft stock surged almost 5% in after-hours trading on Tuesday after its bottom line beat the Street consensus. But the gains were quickly wiped out after a gloomier outlook for its cloud business Azure dampened the mood, before Wednesday's outage of its Teams and Outlook services added another glitch to leave the stock down 1% ahead of Wednesday's open.The mixed earnings picture dampened early week enthusiasm surrounding tech stocks and chipmakers. Even forecast sales growth of 25% in 2023 wasn't enough to stop shares in Dutch chip equipment giant ASML giving back some of its 20%-plus gains for the year so far and they dropped 2% on Wednesday.Antitrust worries also rattled Big Tech. Google-parent Alphabet lost 2% on Tuesday after the Justice Department filed a lawsuit against Google for abusing its dominance of the digital advertising business.Up next on the corporate roundup on Wednesday are Tesla, IBM, Boeing, AT&T and NextEra Energy.After a spluttering close on Tuesday, Wall St stock futures were down almost 1% before the open today. The bigger macro picture was no less equivocal than the earnings drumbeat. While the first U.S. business surveys of the year showed some of last year's pessimism lifting, and above forecast, they also showed the 7th straight month of contracting activity in January. The Richmond Federal Reserve's manufacturing index plunged back to its lowest since June, the low for the current cycle.U.S. Treasury yields slipped back, with 10-year yields falling to 3.43% as eyes drift to next week's Fed policy meeting and the assumption the central bank will downsize its latest rate rise to 25 basis points. With the debt ceiling impasse also in the background, the U.S. yield curve between 3-months and 10-years inverted to another 40-year low of minus 130bp.Traders will watch the Bank of Canada policy decision later on Wednesday for confirmation that interest rate rises are slowing down at least. The BoC is expected to raise rates by another 25bp to 4.5% this week, but then hit the pause button on what has been an aggressive tightening campaign.The global inflation picture also gives mixed signals. While annual British input and factory gate price inflation fell back far more than forecast last month, Australian consumer price inflation data shocked markets as it shot to a 33-year high in the December quarter. The chance it may force the Reserve Bank of Australia to lift interest rates again boosted the Aussie dollar.There was more evidence of the new year euro zone business rejuvenation as Germany firms' optimism improved amid easing energy costs and a warm winter.In deals news, Rupert Murdoch withdrew a proposal to reunite News Corp and Fox - with the company exploring a sale of Move Inc, which operates the Realtor.com website, to CoStar Group for about $3 billion.Key developments that may provide direction to U.S. markets later on Wednesday: * Bank of Canada policy decision. * U.S. Treasury Secretary visits South Africa* U.S. Treasury auctions 5-year note, 2-year floating rate note* U.S. corp earnings: Tesla, Ameriprise, Nasdaq, U.S. Bancorp, Abbott, NextEra, AT&T, IBM, Boeing, CSX, Seagate Technology, Crown Castle, Lam Research, Freeport-McMoRan, Hess, Las Vegas Sands, ADP, ServiceNow, Teradyne, United Rentals, Kimberly-Clark, Norfolk Southern, Marketaxess, Amphenol, Textron etc (By Mike Dolan, editing by Elaine Hardcastle mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/ASML/2023.01.26/ASML : Barclays sticks Neutral.txt b/news/ASML/2023.01.26/ASML : Barclays sticks Neutral.txt new file mode 100644 index 0000000000000000000000000000000000000000..19c6db5688848576c3e3af35a1f3884151179a5d --- /dev/null +++ b/news/ASML/2023.01.26/ASML : Barclays sticks Neutral.txt @@ -0,0 +1 @@ +Barclays's research confirms his advice and maintains his neutral opinion on the stock. The target price has been modified and is now set at EUR 665 compared to EUR 680. \ No newline at end of file diff --git a/news/ASML/2023.01.26/ASML : Berenberg remains its Buy rating.txt b/news/ASML/2023.01.26/ASML : Berenberg remains its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..ded28e365ee4d5e4059b536865abdd291fed9910 --- /dev/null +++ b/news/ASML/2023.01.26/ASML : Berenberg remains its Buy rating.txt @@ -0,0 +1 @@ +In his latest research note, analyst Tammy Qiu confirms his positive recommendation. The broker Berenberg is keeping its Buy rating. The target price has been revised upwards and is now set at EUR 700, compared with EUR 615 previously. \ No newline at end of file diff --git a/news/ASML/2023.01.26/ASML : Deutsche Bank keeps its Buy rating.txt b/news/ASML/2023.01.26/ASML : Deutsche Bank keeps its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..858d36499b7834fcbf407769255c35740e54cbaa --- /dev/null +++ b/news/ASML/2023.01.26/ASML : Deutsche Bank keeps its Buy rating.txt @@ -0,0 +1 @@ +Analyst Robert Sanders from Deutsche Bank research considers the stock attractive and recommends it with a Buy rating. The target price has been revised upwards and is now set at EUR 675, compared with EUR 650 previously. \ No newline at end of file diff --git a/news/ASML/2023.01.26/ASML : Gets a Buy rating from UBS.txt b/news/ASML/2023.01.26/ASML : Gets a Buy rating from UBS.txt new file mode 100644 index 0000000000000000000000000000000000000000..145896ec22247d4377d193d370f54decf99b1085 --- /dev/null +++ b/news/ASML/2023.01.26/ASML : Gets a Buy rating from UBS.txt @@ -0,0 +1 @@ +Analyst Jarrod Castle from UBS research considers the stock attractive and recommends it with a Buy rating. The target price is reviewed upwards from EUR 660 to EUR 700. \ No newline at end of file diff --git a/news/ASML/2023.01.26/ASML : JP Morgan reiterates its Buy rating.txt b/news/ASML/2023.01.26/ASML : JP Morgan reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..d4e73b9652adc7cf3f1b8262d68bec051f52a1bb --- /dev/null +++ b/news/ASML/2023.01.26/ASML : JP Morgan reiterates its Buy rating.txt @@ -0,0 +1 @@ +JP Morgan is positive on the stock with a Buy rating. The target price is unchanged and still at EUR 690. \ No newline at end of file diff --git a/news/ASML/2023.01.26/Japan, Netherlands to join U.S. in restricting chip equipment exports to China-Bloomber...txt b/news/ASML/2023.01.26/Japan, Netherlands to join U.S. in restricting chip equipment exports to China-Bloomber...txt new file mode 100644 index 0000000000000000000000000000000000000000..a3d35862ca2fa9f41568c70dd4edd48b5a002def --- /dev/null +++ b/news/ASML/2023.01.26/Japan, Netherlands to join U.S. in restricting chip equipment exports to China-Bloomber...txt @@ -0,0 +1,46 @@ +TOKYO, Jan 27 (Reuters) - Japan and the Netherlands will +soon agree to join the United States in restricting exports of +semiconductor manufacturing equipment to China, Bloomberg News +reported.Talks between the countries will conclude as early as +Friday, with the Netherlands restricting ASML Holding NV +from selling machines to China used to make certain +types of advanced chips, Bloomberg reported, citing people +familiar with the matter.Japan would impose similar restrictions on Nikon Corp +, the report said.Deputy Chief Cabinet Secretary Seiji Kihara, a government +spokesperson, said Japan would make "appropriate steps" based on +the United States' and other nations' regulatory moves. He +declined to comment further when asked about the report at a +Friday afternoon media briefing.The Dutch foreign ministry declined comment. Prime Minister +Mark Rutte, who has said he expects to reach agreement with the +United States and other allies on stricter controls but that the +Netherlands will not simply adopt U.S. rules, will take +questions at his weekly news briefing later on Friday.Sources have told Reuters that a deal between Dutch and U.S. +officials could be clinched by the end of the month as +representatives from the two countries meet in Washington on +Friday.Getting the Netherlands and Japan to impose tighter export +controls on China would be a major diplomatic win for U.S. +President Joe Biden's administration, which in October announced +sweeping restrictions on Beijing's access to U.S. chipmaking +technology to slow its technological and military advances.Without Japanese or Dutch cooperation, U.S. companies would +face a competitive disadvantage."We have been in discussion with the United States and other +countries regarding the export-control regime," Yasutoshi +Nishimura, Japan's Minister of Economy, Trade and Industry, told +reporters on Friday."We will implement any measures in accordance with our +Foreign Exchange Law and through international cooperation," he +added, declining to provide further details.While Nikon could be affected, the Japanese company most +likely to be affected by new restrictions will be chip +manufacturing machinery maker Tokyo Electron, which relies on +China for about a quarter of its sales, said Masahiko Hosokawa, +a Meisei University professor and former director general of +trade control at the ministry."A balance needs to be struck so no one among Japan, the +United States and Europe will be disproportionately +disadvantaged. It's about fairness," he said.Dutch officials have insisted that fresh controls address +national security concerns rather than favour U.S. chip-related +companies, a source familiar with the discussions told Reuters.Japan expects sales at affected chip-related companies to +rebound quickly because the market for their equipment is +expanding, a trade and industry official involved in overseeing +semiconductor firms told Reuters. He asked not to be identified +because he is not authorised to speak to the media. +(Reporting by Tim Kelly, Kiysho Takenaka, Mayu Sakoda, Kantaro +Komiya and Satoshi Sugiyama; Editing by Chang-Ran Kim, Gerry +Doyle and Jacqueline Wong) \ No newline at end of file diff --git a/news/ASML/2023.01.26/Japan, Netherlands to join US in China chip controls -Bloomberg.txt b/news/ASML/2023.01.26/Japan, Netherlands to join US in China chip controls -Bloomberg.txt new file mode 100644 index 0000000000000000000000000000000000000000..7f8e6c8b60c04e222e5d9e523fa8cdab2fe0ca95 --- /dev/null +++ b/news/ASML/2023.01.26/Japan, Netherlands to join US in China chip controls -Bloomberg.txt @@ -0,0 +1 @@ +The trilateral talks are set to conclude as early as Friday U.S. time, the report said, citing people familiar with the matter.The Netherlands would expand restrictions on ASML Holding NV in a move that would prevent the sale of machines that are crucial to making certain types of advanced chips, Bloomberg reported. Japan would set similar limits on Nikon Corp, it said.Sources have told Reuters that a deal between Dutch and U.S. officials could possibly conclude by the end of the month as representatives from the two countries meet in Washington on Friday. (Reporting by Kantaro Komiya; Editing by Chang-Ran Kim) \ No newline at end of file diff --git a/news/ASML/2023.01.26/What is a chip making tool?.txt b/news/ASML/2023.01.26/What is a chip making tool?.txt new file mode 100644 index 0000000000000000000000000000000000000000..d11510afe85384a008ec9c8f544610b14fd99e11 --- /dev/null +++ b/news/ASML/2023.01.26/What is a chip making tool?.txt @@ -0,0 +1,42 @@ +WASHINGTON, Jan 26 (Reuters) - Sophisticated and +expensive machinery used to make semiconductors, more +widely-known as "chip-making tools", are in the news again, amid +talks where the United States will urge Japanese and Dutch +officials to crack down on shipments of the prized equipment to +China.Below is more information about these machines.WHAT ARE CHIP-MAKING TOOLS?A single chip factory can contain 1,000 or more tools, each +tuned to a different step in the process. One +critical chipmaking step, called lithography, involves tools +that can be the size of double-decker buses, weighing more than +200 tonnes. They produce beams of focused light that create the +microscopic circuitry on computer chips used in everything from +phones and laptops to cars and AI.The biggest and most sophisticated lithography machines +require three Boeing 747s to carry them in sections and can cost +as much as $160 million.WHICH FIRMS MAKE THEM?While American firms such as Applied Materials, KLA +and LAM Research are dominant players in the +chip manufacturing equipment industry, they face competition +from Japanese rivals like Tokyo Electron. And certain +parts of the process, such as lithography, are dominated by +Dutch firm ASML and Japan's Nikon and Canon +, with no meaningful U.S. competitors.Since 2000, ASML has rapidly taken market share from +Japanese competitors, which now mainly focus on older +technology. ASML controls more than 90% of the lithography +market. No competitor is attempting to build the most +sophisticated EUV system, citing high development costs.Shortages of ASML’s machines are a bottleneck for +chipmakers, which have plans to spend more than $100 billion in +the coming years to build extra fabrication plants to meet +demand.WHY DOES THE U.S. WANT TO LIMIT CHINA'S ACCESS TO THEM?American officials have said they want to limit China's +progress in making advanced semiconductors because such work is +key to China's efforts to modernise its military. They want to +slow China's military progress because they are concerned about +a direct confrontation if China moves to take Taiwan, the +democratic island off its coast that China claims is part of its +territory.WHAT IS THE U.S. DOING TO LIMIT CHINA'S ACCESS?In October, the United States annnounced a sweeping set of +export controls, including measures tightly restricting Chinese +access to U.S. chipmaking technology, in a bid to slow Beijing's +technological and military advances.The raft of measures, if effective, could hobble China's +chip manufacturing industry by forcing American and foreign +companies that use U.S. technology to cut off support for some +of China's leading factories and chip designers.But to be effective, the United States needs the Netherlands +and Japan to jump on board with similar restrictions. +(Reporting by Chris Sanders and Stephen Nellis; Editing by +Sharon Singleton) \ No newline at end of file diff --git a/news/ASML/2023.01.27/ASML : Receives a Buy rating from Jefferies.txt b/news/ASML/2023.01.27/ASML : Receives a Buy rating from Jefferies.txt new file mode 100644 index 0000000000000000000000000000000000000000..e6d73bb1dcf97325d62e92b69baae0d55d6ce7a0 --- /dev/null +++ b/news/ASML/2023.01.27/ASML : Receives a Buy rating from Jefferies.txt @@ -0,0 +1 @@ +Janardan Menon from Jefferies retains his positive opinion on the stock with a Buy rating. The target price continues to be set at EUR 700. \ No newline at end of file diff --git a/news/ASML/2023.01.27/Dutch PM Rutte: may not disclose result of U.S. chip export control talks.txt b/news/ASML/2023.01.27/Dutch PM Rutte: may not disclose result of U.S. chip export control talks.txt new file mode 100644 index 0000000000000000000000000000000000000000..c0907f3baa86c4e110061120a5bef2ca0aa98ef5 --- /dev/null +++ b/news/ASML/2023.01.27/Dutch PM Rutte: may not disclose result of U.S. chip export control talks.txt @@ -0,0 +1 @@ +U.S. officials have said they expect the Netherlands and Japan soon to adopt restrictions similar to those introduced for U.S. companies in October, aimed at hobbling China's domestic chipmaking industry. A Dutch delegation is in the U.S. on Friday for talks.Netherlands-based ASML Holding, a key supplier to chipmakers, could see at least some of its $2.4 billion in annual sales to China affected by the decision. "Those talks have been going on for a long time and we're not saying anything about it," Rutte said. "It's really in doubt that if something comes out of them, that it will be very visible. We'll have to see."Asked whether ASML would not need to be informed of the decision in order to implement new restrictions, Rutte said government communications with the company "are also private."ASML CEO Peter Wennink told Reuters on Wednesday Chinese chipmakers are already adjusting their plans to account for new restrictions seen as likely and he expects sales to China to be flat in 2023 while ASML group sales rise by 25%. Rutte's government has previously signalled it intends to reach some agreement with the U.S. over export controls, but that it will not simply adopt the U.S. rules.Rutte said on Friday the talks were ongoing with "many countries" and that they are aimed at maintaining technological leadership, and preventing "the best technology be used in defence systems where you don't want it.""But also how do you ensure at the same time that you don't damage supply lines," he said. (Reporting by Stephanie van den Berg, Toby Sterling, Charlotte Van Campenhout, Editing by Louise Heavens) \ No newline at end of file diff --git a/news/ASML/2023.01.27/Japan, Netherlands to restrict China chip exports.txt b/news/ASML/2023.01.27/Japan, Netherlands to restrict China chip exports.txt new file mode 100644 index 0000000000000000000000000000000000000000..7a49827e280437494e0c1ec42acbd66495d329ef --- /dev/null +++ b/news/ASML/2023.01.27/Japan, Netherlands to restrict China chip exports.txt @@ -0,0 +1 @@ +Japan and the Netherlands will soon join the U.S. in restricting exports of semiconductor manufacturing equipment to China.That's according to a report by Bloomberg on Friday (January 27).Sources said the Netherlands will stop tech giant ASML from selling machines to China that make advanced chips.The report said Japan would put similar restrictions on Nikon.A government spokesperson said Japan would make 'appropriate steps' based on regulatory moves made by the U.S. and other nations.The spokesperson did not comment further about the Bloomberg report.Dutch Prime Minister Mark Rutte has said he expects to reach an agreement with the U.S. on stricter controls.Sources have told Reuters a deal between Dutch and U.S. officials could be reached by the end of the month.Any moves by the Netherlands and Japan would be a diplomatic win for U.S. President Joe Biden.His administration announced restrictions on Beijing's access to U.S. chipmaking technology last October. \ No newline at end of file diff --git a/news/ASML/2023.01.27/U.S. secures deal with Netherlands, Japan on China chip export limit - Bloomberg.txt b/news/ASML/2023.01.27/U.S. secures deal with Netherlands, Japan on China chip export limit - Bloomberg.txt new file mode 100644 index 0000000000000000000000000000000000000000..11414af9d886b9b53ebe039c008ce308963e7625 --- /dev/null +++ b/news/ASML/2023.01.27/U.S. secures deal with Netherlands, Japan on China chip export limit - Bloomberg.txt @@ -0,0 +1 @@ +The agreement would extend some export controls the United States adopted in October to companies based in the two allied nations, including ASML Holding NV, Nikon Corp and Tokyo Electron Ltd, the report added. (Reporting by Kanishka Singh; Editing by Tim Ahmann) \ No newline at end of file diff --git a/news/ASML/2023.01.28/ASML says it understands steps made towards agreement on new export restrictions.txt b/news/ASML/2023.01.28/ASML says it understands steps made towards agreement on new export restrictions.txt new file mode 100644 index 0000000000000000000000000000000000000000..0fdcd8c4a415f36d0452244d8d3a87314beb40ae --- /dev/null +++ b/news/ASML/2023.01.28/ASML says it understands steps made towards agreement on new export restrictions.txt @@ -0,0 +1,8 @@ +THE HAGUE, Jan 28 (Reuters) - ASML Holding NV's +on Saturday said in a statement that it understands +steps have been made towards an agreement between several +governments on new restrictions on the company's exports to +China but added the measures are not expected to have a material +impact in 2023 financial forecasts. +(Reporting by Toby Sterling and Stephanie van den Berg; Editing +by Alison Williams) \ No newline at end of file diff --git a/news/ASML/2023.01.28/ASML: Steps made towards deal on curbing exports to China.txt b/news/ASML/2023.01.28/ASML: Steps made towards deal on curbing exports to China.txt new file mode 100644 index 0000000000000000000000000000000000000000..de291e4e9a2590a27dbcd9750272ebfb1cb4f8eb --- /dev/null +++ b/news/ASML/2023.01.28/ASML: Steps made towards deal on curbing exports to China.txt @@ -0,0 +1 @@ +ASML, a key supplier to chipmakers, has been restricted from selling its most advanced tools to China since 2019.Tensions between the United States and China over semiconductors have steadily worsened since then, prompting Washington in October to impose export restrictions on its own chip manufacturing equipment companies."It is our understanding that steps have been made towards an agreement between governments which, to our understanding, will be focused on advanced chip manufacturing technology, including but not limited to advanced lithography tools," ASML said.The Dutch company added that the measures were not expected to have a material impact on its 2023 financial forecasts. "Before it will come into effect it has to be detailed out and implemented into legislation which will take time," the company said. Its statement follows a Bloomberg report on Friday that said the United States, Japan and the Netherlands had reached an agreement following months of talks. (Reporting by Toby Sterling and Stephanie van den Berg; editing by Alison Williams and Jason Neely) \ No newline at end of file diff --git a/news/ASML/2023.01.28/Asml N : Statement.txt b/news/ASML/2023.01.28/Asml N : Statement.txt new file mode 100644 index 0000000000000000000000000000000000000000..2088a4bc95c9f240614d933301f677de2f3971aa --- /dev/null +++ b/news/ASML/2023.01.28/Asml N : Statement.txt @@ -0,0 +1,141 @@ + + + + +Home + + +News + + +Press releases & announcements + + + + Statement + + +01/ 05 + + + + +Announcement - Veldhoven, the Netherlands, January 28, 2023 + + + + + It is our understanding that steps have been made towards an agreement between governments which, to our understanding, will be focused on advanced chip manufacturing technology, including but not limited to advanced lithography tools. Before it will come into effect, the measures will have to be detailed out and implemented into legislation, which will take time. As a reminder, our business in China is predominantly directed at mature nodes. + + + At this point, it is not possible to make any statement about the process going forward and on the medium and long-term financial, organizational and global industry-wide impact of new export control regulations. Based on what has been said by government officials and our understanding of the timelines of the legislative process and the effective dates of the different provisions, in combination with the current market situation, we do not expect these measures to have a material effect on the financial outlook that we have published for 2023. + + + While these rules are being finalized, ASML will continue to engage with the authorities to discuss the potential impact of any proposed regulation in order to ensure the impact on the global semiconductor supply chain is properly assessed. Meanwhile, ASML's business activities globally will continue. What we need now is stability and reliability in our industry to avoid further disturbances in the global semiconductor industry. + + + + + + Contact information + + + + + + + Monique Mols + + + Head of Media Relations + + + +31 652 844 418 + + + + + + + Ryan Young + + + Media relations manager, US + + + +1 4802058659 + + + + + + + Karen Lo + + + Communications Taiwan + + + +886 939788635 + + + + + + + Skip Miller + + + Head Investor Relations Worldwide + + + +1 480 235 0934 + + + + + + + Marcel Kemp + + + Head Investor Relations Europe + + + +31 40 268 6494 + + + + + + + Peter Cheang + + + Head Investor Relations Asia + + + +886 3 6596771 + + + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +ASML Holding NV published this content on 28 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2023 13:37:03 UTC. + + diff --git a/news/ASML/2023.01.29/Japan chip stocks mostly flat after ASML confirms steps toward China export curbs.txt b/news/ASML/2023.01.29/Japan chip stocks mostly flat after ASML confirms steps toward China export curbs.txt new file mode 100644 index 0000000000000000000000000000000000000000..694b91fd4a00de146c4e653f391191cb5cd2ce4e --- /dev/null +++ b/news/ASML/2023.01.29/Japan chip stocks mostly flat after ASML confirms steps toward China export curbs.txt @@ -0,0 +1,12 @@ +TOKYO, Jan 30 (Reuters) - Shares of Japanese +semiconductor equipment makers were mostly flat on Monday on +muted reaction to news that Washington had made progress towards +a deal to curb exports of some advanced chip-making equipment to +China with several governments.Tokyo Electron was down 0.2% while Advantest Corp +fell 0.6%. Nikon Corp was up 0.2%, in line +with the benchmark Nikkei average.Dutch company ASML Holding NV, a key supplier to +chipmakers, said on Saturday it "understood" that progress had +been made towards an agreement among several governments.Its statement followed a Bloomberg report that the United +States had secured a deal with the Netherlands and Japan. +(Reporting by Mariko Katsumura +Editing by Chang-Ran Kim) \ No newline at end of file diff --git a/news/ASML/2023.01.30/ASML : Goldman Sachs maintains a Buy rating.txt b/news/ASML/2023.01.30/ASML : Goldman Sachs maintains a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..5d62a58561875a1723a019c9f978b028822fcca1 --- /dev/null +++ b/news/ASML/2023.01.30/ASML : Goldman Sachs maintains a Buy rating.txt @@ -0,0 +1 @@ +Goldman Sachs is positive on the stock with a Buy rating. The target price is unchanged at EUR 765. \ No newline at end of file diff --git a/news/ASML/2023.01.30/ASML reports transactions under its current share buyback program.txt b/news/ASML/2023.01.30/ASML reports transactions under its current share buyback program.txt new file mode 100644 index 0000000000000000000000000000000000000000..0f28f481276e74182bd269ea4c5fc14db5491c06 --- /dev/null +++ b/news/ASML/2023.01.30/ASML reports transactions under its current share buyback program.txt @@ -0,0 +1 @@ +ASML reports transactions under its current share buyback programVELDHOVEN, the Netherlands – ASML Holding N.V. (ASML) reports the following transactions, conducted under ASML's current share buyback program.ASML’s current share buyback program was announced on 10 November 2022, and details are available on our website at https://www.asml.com/en/news/share-buybacksThis regular update of the transactions conducted under the buyback program is to be made public under the Market Abuse Regulation (Nr. 596/2014).2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ASML/2023.01.30/Japan's chip equipment makers in the dark about new China export restrictions.txt b/news/ASML/2023.01.30/Japan's chip equipment makers in the dark about new China export restrictions.txt new file mode 100644 index 0000000000000000000000000000000000000000..ac199ffef49583f746e53324623383e9454109a0 --- /dev/null +++ b/news/ASML/2023.01.30/Japan's chip equipment makers in the dark about new China export restrictions.txt @@ -0,0 +1 @@ +Reuters contacted 10 chip-related companies, of which five - Advantest Corp, Nikon Corp, Resonac Holdings Corp, Lasertec Corp and Shin-Etsu Chemical Co Ltd - said they were unaware of any contact from Japan's Ministry of Economy, Trade and Industry about any new restrictions reportedly agreed by Japan, the United States and the Netherlands last week to stymie rival China's technological advancement."As we do not know what the situation is, we cannot comment on what the impact is and what our response will be," said a spokesman for Advantest, which makes chip-testing machines and other chip-related equipment.Past restrictions on advanced semiconductor shipments to China have not affected Japan because the country, which once dominated global chip manufacturing, now only makes around a 10th of the world's semiconductors, most of them less advanced than the chips made by the likes of Taiwan Semiconductor Manufacturing Co Ltd (TSMC) and South Korea's Samsung Electronics Co Ltd.Japan, however, is a major supplier of machines used to make those leading-edge semiconductors that could come under restrictions following reports Washington and other governments had agreed on a deal to curb their exports to China."South Korea has constantly beaten Japan in semiconductors all these years, but one thing they don't have is steppers," which are used to project electronic circuits on to silicon plates, said Tokai Tokyo Research Institute analyst Masahiko Ishino. Without knowing the details of any new restrictions it is impossible to know their impact, he said.Dutch company ASML Holding NV, a key supplier to chipmakers, said on Saturday it "understood" that progress had been made towards an agreement among several governments.Its statement followed a Bloomberg report that the United States had secured a deal with the Netherlands and Japan.The five other Japanese firms Reuters contacted did not respond when asked about the possible impact of tighter export rules and whether they were concerned China would retaliate. Among them was Tokyo Electron Ltd, Japan's biggest semiconductor manufacturing machinery maker.Shares of Japanese semiconductor equipment makers were mostly flat on Monday, with Tokyo Electron up 0.68% while Advantest Corp fell 0.32%. Nikon Corp was up 0.16%, in line with the benchmark Nikkei average. (Reporting by Tim Kelly, Mayu Sakoda, Kiyoshi Takenaka and Mariko Katsumura; Editing by Chang-Ran Kim and Christopher Cushing) \ No newline at end of file diff --git a/news/ASML/2023.01.30/Tech stocks lead losses in Europe on rate jitters.txt b/news/ASML/2023.01.30/Tech stocks lead losses in Europe on rate jitters.txt new file mode 100644 index 0000000000000000000000000000000000000000..0e5f62a726be7388a672d5379f7cc04da5e06656 --- /dev/null +++ b/news/ASML/2023.01.30/Tech stocks lead losses in Europe on rate jitters.txt @@ -0,0 +1 @@ +The pan-European STOXX 600 was down 0.6% at 0818 GMT. Europe's technology index, led by losses in Prosus NV and ASML Holding NV, was the top decliner among sectors - down 2.1%.Money market bets show that the U.S. Federal Reserve is set to raise its policy rate by 25 basis points (bps) to 4.50%-4.75% on Wednesday, while the European Central Bank (ECB) and the Bank of England (BoE) are seen raising rates by 50 bps each to 2.50% and 4.0% on Thursday.Philips gained 4.3% after the Dutch health technology company announced it would scrap 6,000 jobs to restore profitability following a recall of respiratory devices that knocked off 70% of its market value.German renewable firm PNE AG slid 15.3% after Morgan Stanley's infrastructure investment arm informed PNE AG's board that it is no longer pursuing talks with potential buyers of Photon's PNE stake. (Reporting by Ankika Biswas in Bengaluru; Editing by Janane Venkatraman) \ No newline at end of file diff --git a/news/ASML/2023.01.31/Factbox-Chinese chipmakers caught in U.S.-China tech spat.txt b/news/ASML/2023.01.31/Factbox-Chinese chipmakers caught in U.S.-China tech spat.txt new file mode 100644 index 0000000000000000000000000000000000000000..f0fcceb832eefd6af0e67f30e333516517fa7e4e --- /dev/null +++ b/news/ASML/2023.01.31/Factbox-Chinese chipmakers caught in U.S.-China tech spat.txt @@ -0,0 +1 @@ +While Beijing has ploughed vast sums of money into cultivating a domestic chip industry, its fabrication plants, known as fabs, still heavily rely on foreign-made equipment that they use to turn slabs of silicon into chips that power hardware.Below are the Chinese fabs that are bearing the biggest brunt of Washington's curbs:SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORP (SMIC)SMIC, China's largest fab, makes chips that go into a range of products for the automotive sector, internet-of-things devices and some smartphones.Founded in 2000 with backing from the Shanghai government, the firm stands as China's would-be rival to Taiwan Semiconductor Manufacturing Co Ltd (TSMC), though it is dwarfed in technology and income. TSMC is the world's most valuable chipmaker and counts Apple Inc and Nvidia Corp among major clients. Its government-backing and ambition to make high-end chips caught the attention of the United States which put the firm on its Entity List in 2020. The placement effectively barred Dutch firm ASML Holding AS from providing critical Extreme Ultraviolet lithography machines to SMIC, scuttling that ambition.To date, most of SMIC's sales are made using the outdated 45 nanometer process node and above. Since late 2020, this specialisation in older chips has proven a boon due to a global shortage of lower-end chips. Still, its global market share in the pure-play foundry sector remains in the single digits, and its sales and research-and-development expenditure remain well below those of TSMC.The company shocked the industry in 2022 when researchers discovered it had produced a chip that appeared to share qualities with TSMC's 7 nanometer process node technology, even without ASML equipment.Experts disputed the long-term viability of its breakthrough. SMIC has not responded to the findings.HUA HONG SEMICONDUCTOR LTDHua Hong Semiconductor Ltd is China's second-largest fab. It was founded in 1996 and specialises in making mature-node technology, generating most of its revenue from chips made at the 55 nanometer process node and above. The firm has devoted fewer resources to producing advanced nodes than SMIC. It plans to conduct an additional public offering in 2023, and aims to build a new fab in the eastern city of Wuxi.YANGTZE MEMORY TECHNOLOGIES CO LTD (YMTC)YMTC is China's only player in the global NAND memory market - an ultra-competitive sector long dominated by a handful of firms from the United States and Korea. It designs and makes chips and was added to the U.S. Entity List last year.While YMTC's market share of the overall sector is small, experts said it has steadily entered the Chinese supply chain and that its products have become more competitive on price and quality.It unveiled a chip last year with 232 layers of memory cells, placing the firm closer to rivals such as South Korea's Samsung Electronics Co Ltd. Experts said equipment export restrictions are likely to derail further efforts.YMTC was founded in 2016 with backing from the Wuhan government and China National Integrated Circuit Industry Investment Fund, and originally operated under chip conglomerate Tsinghua Unigroup. It was later spun out as its parent company restructured while facing bankruptcy.CHANGXIN MEMORY TECHNOLOGIES (CXMT)CXMT is China's only major player designing and making DRAM chips, which like NAND memory, is a sector long dominated by a handful of legacy companies in the United States, South Korea and Taiwan.It has one fab in operation and is building two others. It produces DRAM at the 19 nanometer node and is moving into the 17 nanometer node - process nodes behind the industry leading-edge.Researcher Trendforce wrote that the impact from equipment export restrictions imposed since October might affect expansion plans. (Reporting by Josh Horwitz; Editing by Brenda Goh and Christopher Cushing)By Josh Horwitz \ No newline at end of file diff --git a/news/ASML/2023.01.31/U.S. official acknowledges Japan, Netherlands deal to curb chipmaking exports to China.txt b/news/ASML/2023.01.31/U.S. official acknowledges Japan, Netherlands deal to curb chipmaking exports to China.txt new file mode 100644 index 0000000000000000000000000000000000000000..96fd8b2f930cc8708c80ddb302c5a0c7a5bbafb8 --- /dev/null +++ b/news/ASML/2023.01.31/U.S. official acknowledges Japan, Netherlands deal to curb chipmaking exports to China.txt @@ -0,0 +1 @@ +"We can't talk about the deal right now," Deputy Commerce Department Secretary Don Graves said on the sidelines of an event in Washington. "But you can certainly talk to our friends in Japan and the Netherlands." Bloomberg reported on Friday an agreement had been finalized and two people familiar with the matter later confirmed the news to Reuters. The United States in October imposed sweeping export restrictions on shipments of chipmaking tools to China, seeking to hobble Beijing's ability to supercharge its chip industry and enhance its military capabilities. For the restrictions to be effective, though, Washington needed to bring on board the Netherlands and Japan, home to chipmaking powerhouses ASML and Tokyo Electron, among others.The Commerce Department said in an email it will continue to coordinate on export controls with allies. "We recognize that multilateral controls are more effective than unilateral controls, and foreign engagement on these controls is a ... priority," the agency said. Officials from the Netherlands and Japan were in Washington discussing a wide range of issues in talks led by White House national security adviser Jake Sullivan on Friday. When asked on Friday if an agreement on semiconductors had been discussed, U.S. President Joe Biden said: "Yes, we talked about a lot of things, but a lot of it is private." (Reporting by Alexandra Alper and David Shepardson; Additional reporting by Steve Holland; Writing by Alexandra Alper; Editing by Tom Hogue)By Alexandra Alper and David Shepardson \ No newline at end of file diff --git a/news/ASML/2023.02.01/ASML : Buy rating from Berenberg.txt b/news/ASML/2023.02.01/ASML : Buy rating from Berenberg.txt new file mode 100644 index 0000000000000000000000000000000000000000..811a833b7e97793f26898957e9683feafd5641f2 --- /dev/null +++ b/news/ASML/2023.02.01/ASML : Buy rating from Berenberg.txt @@ -0,0 +1 @@ +In a research note published by Tammy Qiu, Berenberg advises its customers to buy the stock. The target price is unchanged and still at EUR 700. \ No newline at end of file diff --git a/news/ASML/2023.02.04/Japan to restrict chip manufacturing machine exports to China - Kyodo.txt b/news/ASML/2023.02.04/Japan to restrict chip manufacturing machine exports to China - Kyodo.txt new file mode 100644 index 0000000000000000000000000000000000000000..1eab6abb82aa880908e8476b72afa118262ed4d0 --- /dev/null +++ b/news/ASML/2023.02.04/Japan to restrict chip manufacturing machine exports to China - Kyodo.txt @@ -0,0 +1 @@ +The new regulation will not mention China specifically in a bid to reduce the risk of retaliation by Beijing, the report said, without saying where it obtained the information.Japan and the Netherlands have agreed to join the United States in halting shipments of semiconductor manufacturing equipment produced by the likes of Nikon Corp and ASML Holdings in a bid to stop China developing and advanced chips that could be used to enhance its military power, sources told Reuters, confirming earlier media reports.Only Washington, however, has acknowledged the existence of the deal, and has yet to release any details of what equipment will be restricted. (Reporting by Tim Kelly,; Editing by Lincoln Feast.) \ No newline at end of file diff --git a/news/ASML/2023.02.06/ASML reports transactions under its current share buyback program.txt b/news/ASML/2023.02.06/ASML reports transactions under its current share buyback program.txt new file mode 100644 index 0000000000000000000000000000000000000000..0f28f481276e74182bd269ea4c5fc14db5491c06 --- /dev/null +++ b/news/ASML/2023.02.06/ASML reports transactions under its current share buyback program.txt @@ -0,0 +1 @@ +ASML reports transactions under its current share buyback programVELDHOVEN, the Netherlands – ASML Holding N.V. (ASML) reports the following transactions, conducted under ASML's current share buyback program.ASML’s current share buyback program was announced on 10 November 2022, and details are available on our website at https://www.asml.com/en/news/share-buybacksThis regular update of the transactions conducted under the buyback program is to be made public under the Market Abuse Regulation (Nr. 596/2014).2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ASML/2023.02.13/ASML : JP Morgan remains its Buy rating.txt b/news/ASML/2023.02.13/ASML : JP Morgan remains its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..9e4b0ee72a7ddc02973018968b94232258a04018 --- /dev/null +++ b/news/ASML/2023.02.13/ASML : JP Morgan remains its Buy rating.txt @@ -0,0 +1 @@ +In a research note, JP Morgan analyst Sandeep Deshpande has maintained his recommendation on the stock with a Buy rating. The target price continues to be set at EUR 690. \ No newline at end of file diff --git a/news/ASML/2023.02.13/ASML reports transactions under its current share buyback program.txt b/news/ASML/2023.02.13/ASML reports transactions under its current share buyback program.txt new file mode 100644 index 0000000000000000000000000000000000000000..0f28f481276e74182bd269ea4c5fc14db5491c06 --- /dev/null +++ b/news/ASML/2023.02.13/ASML reports transactions under its current share buyback program.txt @@ -0,0 +1 @@ +ASML reports transactions under its current share buyback programVELDHOVEN, the Netherlands – ASML Holding N.V. (ASML) reports the following transactions, conducted under ASML's current share buyback program.ASML’s current share buyback program was announced on 10 November 2022, and details are available on our website at https://www.asml.com/en/news/share-buybacksThis regular update of the transactions conducted under the buyback program is to be made public under the Market Abuse Regulation (Nr. 596/2014).2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ASML/2023.02.15/ASML : Goldman Sachs reiterates its Buy rating.txt b/news/ASML/2023.02.15/ASML : Goldman Sachs reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..075c759bc784717d3efac832d0a926e14397828e --- /dev/null +++ b/news/ASML/2023.02.15/ASML : Goldman Sachs reiterates its Buy rating.txt @@ -0,0 +1 @@ +Goldman Sachs analyst Alexander Duval maintains his Buy rating on the stock. The target price is unchanged at EUR 765. \ No newline at end of file diff --git a/news/ASML/2023.02.15/ASML discloses IP theft incident by former employee in China.txt b/news/ASML/2023.02.15/ASML discloses IP theft incident by former employee in China.txt new file mode 100644 index 0000000000000000000000000000000000000000..a51045cf1c5fa721c2a4df3ac4f6f33f92c188ca --- /dev/null +++ b/news/ASML/2023.02.15/ASML discloses IP theft incident by former employee in China.txt @@ -0,0 +1,9 @@ +AMSTERDAM, Feb 15 (Reuters) - ASML Holding NV, +a top supplier of semiconductor manufacturing equipment, on +Wednesday disclosed that it had recently discovered the +"misappropriation" of confidential information by a +now-dismissed employee in China."Based upon our initial findings, we do not believe that the +misappropriation is material to our business," the company said +in a statement, adding that it had informed relevant authorities +of the incident. +(Reporting by Toby Sterling; editing by Jason Neely) \ No newline at end of file diff --git a/news/ASML/2023.02.15/ASML publishes 2022 Annual Reports.txt b/news/ASML/2023.02.15/ASML publishes 2022 Annual Reports.txt new file mode 100644 index 0000000000000000000000000000000000000000..71a143d73cf0b909de8faeb160e65f765b4f7d18 --- /dev/null +++ b/news/ASML/2023.02.15/ASML publishes 2022 Annual Reports.txt @@ -0,0 +1,3 @@ +ASML publishes 2022 Annual ReportsIntegrated overview of ASML’s business and ESG performance in 2022VELDHOVEN, the Netherlands, February 15, 2023 - Today, ASML Holding NV (ASML) has published its 2022 Annual Reports. With the central theme “Small patterns. Big impact.”, the report includes messages from our CEO, CTO and CFO, reflecting on ASML’s financial performance, market, business model and technology roadmap. It also includes our Environmental, Social and Governance (ESG) Sustainability strategy, looking at our performance over 2022 and action plans for the coming years. Launched in 2021, our ESG Sustainability strategy acknowledges and addresses the impact we have on society. “This underpins our drive to be a responsible organization and a force for good in the world. We aim to contribute to expanding computing power but with minimal waste, energy use and emissions, while at the same time having a positive role in society for our employees, supply chain, everyone involved in our innovation ecosystem and the communities around us. The only way to do that is to act on our responsibilities and fully anchor them in the way we do business through our focus on integrated governance, engaged stakeholders and transparent reporting,” said ASML President and Chief Executive Officer Peter Wennink.To discover ASML’s contributions to a better, more inclusive and sustainable future through technology, find the full 2022 Annual Report on our website. The reporting criteria used for the preparation of the nonfinancial information are the Sustainability Reporting Standards of the Global Reporting Initiative (GRI) and the applied supplemental reporting criteria as disclosed in section ‘About the non-financial information’ of the Annual Report. ASML will file its 2022 Annual Report based on US GAAP with the US Securities and Exchange Commission (SEC) and its 2022 Annual Report based on IFRS-EU with the Dutch Authority for the Financial Markets (AFM). ASML's 2022 Annual Reports are available at www.asml.com. ASML's 2022 Annual Report based on US GAAP will also be available at www.sec.gov. The Annual Report based on IFRS will be published at www.afm.nl. ASML will hold its Annual General Meeting of Shareholders (AGM) in Veldhoven on April 26, 2023. The AGM agenda with all related documents will be available at www.asml.com on March 13, 2023.About ASMLASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity's toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across Europe, the US and Asia. Every day, ASML’s more than 39,000 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at www.asml.com.Forward Looking StatementsThis press release contains forward looking statements, including statements relating to our ESG sustainability strategy, related statements to our reports to be filed with the SEC and AFM and other non-historical statements. These statements are based on current expectations, estimates, assumptions and projections and you should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve risks and uncertainties. These risks and uncertainties include risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F for the year ended December 31, 2022 and other filings with the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. +Attachment +2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ASML/2023.02.15/ASML: trade war risks increasing, but no 2023 impact on China sales.txt b/news/ASML/2023.02.15/ASML: trade war risks increasing, but no 2023 impact on China sales.txt new file mode 100644 index 0000000000000000000000000000000000000000..9dde875f552bfb904a68f3b2f898f7a12fccaf15 --- /dev/null +++ b/news/ASML/2023.02.15/ASML: trade war risks increasing, but no 2023 impact on China sales.txt @@ -0,0 +1 @@ +In a discussion of risks in its annual report, the top supplier of equipment to semiconductor makers outlined how it has already been affected by restrictions introduced by the United States government last year, which were aimed at hobbling China's domestic chip-making industry.Washington has been pushing the Netherlands and Japan to adopt similar measures.Curbs imposed by the Dutch government under pressure from the U.S. have prevented ASML from selling its most advanced machines to China since 2019. "Such developments, including the drive for technological sovereignty, could also lead to long-term changes in global trade, competition and technology supply chains, which could adversely affect our business and growth prospects," ASML said.Separately on Wednesday, China's semiconductor industry group CSIA warned that further export controls, if they materialise, would damage "China, with detriment to the global economy (and)...interests of consumers worldwide."In a foreword to the report, ASML CEO Peter Wennink said the company understood that the United States had reached some agreement with its allies in late January but no details have been disclosed publicly and any new restrictions would take months to draw up and enact."We understand that steps have been taken that would cover advanced lithography tools as well as other types of equipment," Wennink said."We do not expect these measures to have a material effect on our expectations for 2023."Last month ASML forecast a 25% rise in sales for 2023 with sales to China steady at about 2.2 billion euros, or 14% of 2021 revenue. (Reporting by Toby Sterling; editing by David Goodman and Jason Neely)By Toby Sterling \ No newline at end of file diff --git a/news/ASML/2023.02.15/Asml N : 2022 Annual Report based on US GAAP.txt b/news/ASML/2023.02.15/Asml N : 2022 Annual Report based on US GAAP.txt new file mode 100644 index 0000000000000000000000000000000000000000..807de4d6b70139a993608804d6f74e6304f6a312 --- /dev/null +++ b/news/ASML/2023.02.15/Asml N : 2022 Annual Report based on US GAAP.txt @@ -0,0 +1,1026 @@ + + + + + +ASML ANNUAL REPORT 2022 + + + + + STRATEGIC REPORT + + + + + GOVERNANCE + + + + + FINANCIALS + + + + + 2 + + + + + + Smaller size, bigger capability is a well-established trend in the chip industry. + + + And thanks to the joint efforts of our 39,000 people working together with suppliers, + + + customers and innovation partners, we are taking that ever further. + + + Every day we push the boundaries of physics and shrink patterns to help shape the + + + future of life, work and play across the planet. Strongly embedded in a global + + + innovation ecosystem, we enable ground-breaking technology that can help humanity manage challenges and seize opportunities by facilitating smart living and mobility, accessible healthcare, food security and the transition to renewable energy. + + + Creating small patterns that enable a big impact. + + + + + + Tackling + + + + + Global + + + + + Food + + + + + Energy + + + + + Smart + + + + + Virtual and + + + + + Wearable + + + + + + + augmented + + + + + + + pollution + + + + + well-being + + + + + security + + + + + transition + + + + + mobility + + + + + technology + + + + + + + reality + + + + + + + + + + + + + + + + + + + + + + + + + See page 8 > + + + + + See page 22 > + + + + + See page 30 > + + + + + See page 40 > + + + + + See page 51 > + + + + + See page 69 > + + + + + See page 149 > + + + + + + + + + + + + + +ASML ANNUAL REPORT 2022 + + + + + CONTENTS + + + + + + + + STRATEGIC REPORT + + + + + GOVERNANCE + + + + + FINANCIALS + + + + + 3 + + + + + + + Contents + + + Message from the CEO on page 5 > + + + Q&A with the CTO on page 20 > + + + Q&A with the CFO on page 41 > + + + + + STRATEGIC REPORT + + + + + + 4 + + + + + Forward-looking statements + + + + + + + Environmental + + + + + + + 5 + + + + + Message from the CEO + + + + + 76 + + + + + Energy efficiency and climate action + + + + + + + 9 + + + + + Our company + + + + + 85 + + + + + Circular economy + + + + + + + 20 + + + + + Q&A with the CTO + + + + + + + Social + + + + + + + 23 + + + + + Marketplace + + + + + 97 + + + + + Attractive workplace for all + + + + + + + 31 + + + + + Our business and ESG strategy + + + + + 109 + + + + + Our supply chain + + + + + + + 33 + + + + + Our business model + + + + + 118 + + + + + Innovation ecosystem + + + + + + + 41 + + + + + Q&A with the CFO + + + + + 124 + + + + + Valued partner in our communities + + + + + + + + + Financial performance + + + + + + + Governance + + + + + + + 44 + + + + + Performance KPIs + + + + + 134 + + + + + Managing ESG Sustainability + + + + + + + 49 + + + + + Long-term growth opportunities + + + + + 135 + + + + + Responsible business + + + + + + + + + Risk + + + + + 147 + + + + + Our approach to tax + + + + + +52 How we manage risk + + + + + + 56 + + + + + Risk factors + + + + + + + Our stories + + + + + + + + + Environmental, Social and + + + + + 8 + + + + + Tackling pollution + + + + + + + + + Governance + + + + + 22 + + + + + Global well-being + + + + + + + 70 + + + + + ESG at a glance + + + + + 30 + + + + + Food security + + + + + + + 71 + + + + + Our material ESG sustainability topics + + + + + 40 + + + + + Energy transition + + + + + + + + + + + 51 + + + + + Smart mobility + + + + + + + + + + + 69 + + + + + Virtual and augmented reality + + + + + + + + + + + 149 + + + + + Wearable technology + + + + + + + + + + + + + + + + + + CORPORATE GOVERNANCE + + + Corporate Governance + + + +Board of Management + + + + +Supervisory Board + + + + +Other Board-related matters + + + + +AGM and share capital + + + + +Financial reporting and audit + + + + +Compliance with Corporate Governance requirements + Supervisory Board report + + +Message from the Chair of the Supervisory Board + + + + +Supervisory Board focus in 2022 + + + + +Meetings and attendance + + + + +Supervisory Board committees + + + + +Financial Statements and Profit Allocation + Remuneration Report + + +Message from the Chair of the Remuneration Committee + + + + +Remuneration at a glance + + + + +Remuneration Committee + + + + +Board of Management remuneration + + + + +Supervisory Board remuneration + + + + + + FINANCIALS & NON FINANCIALS + + + Consolidated Financial Statements + + +214 Report of Independent Registered Public Accounting Firm + + + +Consolidated Statements of Operations + + +Consolidated Statements of Comprehensive Income + + +Consolidated Balance Sheets + + +Consolidated Statements of Shareholders' Equity + + + + +Consolidated Statements of Cash Flows + + +Notes to the Consolidated Financial Statements + + + + Non-financial statements + + +264 Assurance Report of the Independent Auditor + + + +About the non-financial information + + + + +Non-financialindicators + + + + +Other appendices + + + +309 Definitions + + +317 Exhibit index + + + + + + +View our Highlights online > + + + + + A definition or explanation of abbreviations, technical terms and other terms used throughout this Annual Report can be found in the chapter Definitions. In some cases, numbers have been rounded for readers' convenience. + + + This report comprises regulated information within the meaning of articles 1:1 and 5:25c of the Dutch Financial Markets Supervision Act (Wet op het Financieel Toezicht). + + + + + In this report the name 'ASML' is sometimes used for convenience in contexts where reference is made to ASML Holding N.V. and/or any of its subsidiaries, as the context may require. + + + References to our website and/or video presentations in this Annual Report are for reference only and none nor any portion thereof are incorporated by reference in this report. + + + © 2023, ASML Holding N.V. All Rights Reserved. + + + + + + + + + + + +ASML ANNUAL REPORT 2022 + + + + + FORWARD-LOOKING STATEMENTS + + + + + + + + STRATEGIC REPORT + + + + + GOVERNANCE + + + + + FINANCIALS + + + + + 4 + + + + + + Special note regarding forward-looking statements + + + + + + This Annual Report contains statements relating to our expected business, results projections, business trends and other matters that are "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify these statements by the use of words like "may", "will", "could", "should", "project", "believe", "anticipate", "expect", "plan", "estimate", "forecast", "potential", "intend", "continue" and variations of these words or comparable words. They appear in a number of places throughout this Annual Report and include statements with respect to our expected trends and outlook, strategies, corporate priorities and goals, expected semiconductor industry trends, expected trends in markets served by our customers, including expected growth in semiconductor demand, manufacturing + + + + + capacity, expected semiconductor market trends and market growth and drivers of such trends and growth, expected financial results, including expected sales, service revenue, gross margin, expected capital expenditures, R&D and SG&A expenses, effective annualized tax rate, annual revenue growth rate and outlook for 2023 and other statements under "Trend Information", annual sales and gross margin opportunity and potential and growth outlook and for 2025 and 2030, sales model for 2025 and other statements under the section entitled "Long-term growth opportunities", statements under the section entitled "Risk factors", expected trends in customer demand and demand for semiconductors including expected trends in end markets, including Memory and Logic, expected development of High-NA and expected timing to start shipment of High-NA systems + + + + + and high-volume production of High-NA systems, for semiconductor industry market opportunities, expected EUV and DUV and installed based management sales and the expectation about continuing role of DUV systems, EUV product roadmap, our supply chain strategies and goals, customer, partner and industry roadmaps, expected productivity and benefits of our tools, potential future innovations and system performance, expected shipments of our tools, including demand for and timing of shipments, statements with respect to DUV and EUV competitiveness, the development of EUV technology, revenue recognition, expected demand for wafers, expected impact of inflation, ESG strategy including our sustainability targets, goals and strategies, environmental, diversity and sustainability strategy, ambitions, goals and + + + + + targets, including circular procurement goals, targeted greenhouse gas emissions and waste reduction, recycling and refurbishment initiatives, investments and goals and energy-saving strategies and targets, including statements on targeting zero carbon emissions and indirect emissions from energy use across operations and reducing intensity of all other emissions in the value chain and the goals for timing thereof, statements with respect to Moore's Law, cash return and dividend policy, our expectation to continue to return cash to our shareholders through share buybacks and dividends including our proposed dividend for 2022 and statements relating to our share buyback program, statements with respect to the expected impact of accounting standards and other non-historical statements. These forward-looking + + + + + statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about business and future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance, and actual results may differ materially from projected results as a result of certain risks, and uncertainties. These risks and uncertainties include, without limitation, those described under How we manage risk - Risk factors. These forward-looking statements are made only as of the date of this Annual Report. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. + + + + + + + + + + + +ASML ANNUAL REPORT 2022 + + + + + MESSAGE FROM THE CEO + + + + + + + + STRATEGIC REPORT + + + + + GOVERNANCE + + + + + FINANCIALS + + + + + 5 + + + + + + Record performance in a challenging year + + + With record net bookings for 2022, an innovation pipeline filled with new products and services and our talented, energized and engaged people, we face the future with great confidence. + + + + + + Dear Stakeholder, + + + The figures speak for themselves: record sales of €21.2 billion, up by 13.8% compared with 2021, a gross margin of 50.5% and a dividend per share of €5.80 add up to another outstanding year for ASML. Our net bookings stand at an unparalleled €30.7 billion for the year 2022, our pipeline is flowing freely, with a number of new products launched, set to launch or in development, and our people are talented, energized and engaged. Not surprisingly, we are looking forward to a very bright future with strong growth. I would like to thank all our stakeholders for their support during the year - and in particular I wish to pay tribute to our people, who have again displayed outstanding commitment and expertise, and without whom none of our achievements would have been possible. + + + Yet despite the positive numbers, the reality is that 2022 could actually have been even better. Our ability to meet customer demand continued to be impacted by a set of circumstances that were not fully in our control. The aftermath of COVID-19, the ongoing war in Ukraine and struggles among + + + + + Ultimately, we have seen the global chip shortage that first appeared in 2020 continue through 2022. We have all encountered this in one way or another in our personal lives, whether through delays in taking ownership of a new vehicle or reduced availability of technology such as solar panels. + + + Delivering on our business strategy… + + + Although we have at times struggled operationally, from a strategic standpoint we have continued to deliver. Our comprehensive product portfolio is aligned to our customers' roadmaps, delivering cost- effective solutions in support of all applications, from leading-edge to mature nodes. Among many highlights of the year, we shipped the first TWINSCAN NXT:2100i, received new orders for the TWINSCAN EXE:5200 and saw several customers adopt Alignment Optimization 12 Color. + + + + + While we had more unhappy customers than I would have liked, we have also experienced empathy and support. We have always kept customers fully informed of any delays to shipments, and they can see for themselves how our investments are set to increase capacity. Cranes stand across the skylines of our sites as our investment to increase our manufacturing capacity to 90 EUV 0.33 NA and 600 DUV systems by 2025-2026 begins to take shape, while we are also ramping our EUV 0.55 NA (High-NA) capacity to 20 systems by 2027-2028. And key partners such as Carl Zeiss are also busy adding capacity, doing everything they can to free the logjam in the supply chain. + + + + + + + some of our supply chain partners to deliver according to our agreed plans due to material shortages have combined to cause significant turbulence and meant that we were unable to give our customers what they needed all of the time. + + + + + Our investments are set to increase capacity." + + + Peter Wennink + + + President, Chief Executive Officer and Chair of the Board of Management + + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +ASML Holding NV published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 09:04:05 UTC. + + diff --git a/news/ASML/2023.02.15/Asml N : 2022 Annual Report.txt b/news/ASML/2023.02.15/Asml N : 2022 Annual Report.txt new file mode 100644 index 0000000000000000000000000000000000000000..3da68e459dcc9b85481d60768c7476a22c46ea81 --- /dev/null +++ b/news/ASML/2023.02.15/Asml N : 2022 Annual Report.txt @@ -0,0 +1,1026 @@ + + + + + +ASML ANNUAL REPORT 2022 + + + + + STRATEGIC REPORT + + + + + GOVERNANCE + + + + + FINANCIALS + + + + + 2 + + + + + + Smaller size, bigger capability is a well-established trend in the chip industry. + + + And thanks to the joint efforts of our 39,000 people working together with suppliers, + + + customers and innovation partners, we are taking that ever further. + + + Every day we push the boundaries of physics and shrink patterns to help shape the + + + future of life, work and play across the planet. Strongly embedded in a global + + + innovation ecosystem, we enable ground-breaking technology that can help humanity manage challenges and seize opportunities by facilitating smart living and mobility, accessible healthcare, food security and the transition to renewable energy. + + + Creating small patterns that enable a big impact. + + + + + + Tackling + + + + + Global + + + + + Food + + + + + Energy + + + + + Smart + + + + + Virtual and + + + + + Wearable + + + + + + + augmented + + + + + + + pollution + + + + + well-being + + + + + security + + + + + transition + + + + + mobility + + + + + technology + + + + + + + reality + + + + + + + + + + + + + + + + + + + + + + + + + See page 8 > + + + + + See page 22 > + + + + + See page 30 > + + + + + See page 40 > + + + + + See page 51 > + + + + + See page 69 > + + + + + See page 149 > + + + + + + + + + + + + + +ASML ANNUAL REPORT 2022 + + + + + CONTENTS + + + + + + + + STRATEGIC REPORT + + + + + GOVERNANCE + + + + + FINANCIALS + + + + + 3 + + + + + + + Contents + + + Message from the CEO on page 5 > + + + Q&A with the CTO on page 20 > + + + Q&A with the CFO on page 41 > + + + + + STRATEGIC REPORT + + + + + + 4 + + + + + Forward-looking statements + + + + + + + Environmental + + + + + + + 5 + + + + + Message from the CEO + + + + + 76 + + + + + Energy efficiency and climate action + + + + + + + 9 + + + + + Our company + + + + + 85 + + + + + Circular economy + + + + + + + 20 + + + + + Q&A with the CTO + + + + + + + Social + + + + + + + 23 + + + + + Marketplace + + + + + 97 + + + + + Attractive workplace for all + + + + + + + 31 + + + + + Our business and ESG strategy + + + + + 109 + + + + + Our supply chain + + + + + + + 33 + + + + + Our business model + + + + + 118 + + + + + Innovation ecosystem + + + + + + + 41 + + + + + Q&A with the CFO + + + + + 124 + + + + + Valued partner in our communities + + + + + + + + + Financial performance + + + + + + + Governance + + + + + + + 44 + + + + + Performance KPIs + + + + + 134 + + + + + Managing ESG Sustainability + + + + + + + 49 + + + + + Long-term growth opportunities + + + + + 135 + + + + + Responsible business + + + + + + + + + Risk + + + + + 147 + + + + + Our approach to tax + + + + + +52 How we manage risk + + + + + + 56 + + + + + Risk factors + + + + + + + Our stories + + + + + + + + + Environmental, Social and + + + + + 8 + + + + + Tackling pollution + + + + + + + + + Governance + + + + + 22 + + + + + Global well-being + + + + + + + 70 + + + + + ESG at a glance + + + + + 30 + + + + + Food security + + + + + + + 71 + + + + + Our material ESG sustainability topics + + + + + 40 + + + + + Energy transition + + + + + + + + + + + 51 + + + + + Smart mobility + + + + + + + + + + + 69 + + + + + Virtual and augmented reality + + + + + + + + + + + 149 + + + + + Wearable technology + + + + + + + + + + + + + + + + + + CORPORATE GOVERNANCE + + + Corporate Governance + + + +Board of Management + + + + +Supervisory Board + + + + +Other Board-related matters + + + + +AGM and share capital + + + + +Financial reporting and audit + + + + +Compliance with Corporate Governance requirements + Supervisory Board report + + +Message from the Chair of the Supervisory Board + + + + +Supervisory Board focus in 2022 + + + + +Meetings and attendance + + + + +Supervisory Board committees + + + + +Financial Statements and Profit Allocation + Remuneration Report + + +Message from the Chair of the Remuneration Committee + + + + +Remuneration at a glance + + + + +Remuneration Committee + + + + +Board of Management remuneration + + + + +Supervisory Board remuneration + + + + + + FINANCIALS & NON FINANCIALS + + + Consolidated Financial Statements + + +214 Report of Independent Registered Public Accounting Firm + + + +Consolidated Statements of Operations + + +Consolidated Statements of Comprehensive Income + + +Consolidated Balance Sheets + + +Consolidated Statements of Shareholders' Equity + + + + +Consolidated Statements of Cash Flows + + +Notes to the Consolidated Financial Statements + + + + Non-financial statements + + +264 Assurance Report of the Independent Auditor + + + +About the non-financial information + + + + +Non-financialindicators + + + + +Other appendices + + + +309 Definitions + + +317 Exhibit index + + + + + + +View our Highlights online > + + + + + A definition or explanation of abbreviations, technical terms and other terms used throughout this Annual Report can be found in the chapter Definitions. In some cases, numbers have been rounded for readers' convenience. + + + This report comprises regulated information within the meaning of articles 1:1 and 5:25c of the Dutch Financial Markets Supervision Act (Wet op het Financieel Toezicht). + + + + + In this report the name 'ASML' is sometimes used for convenience in contexts where reference is made to ASML Holding N.V. and/or any of its subsidiaries, as the context may require. + + + References to our website and/or video presentations in this Annual Report are for reference only and none nor any portion thereof are incorporated by reference in this report. + + + © 2023, ASML Holding N.V. All Rights Reserved. + + + + + + + + + + + +ASML ANNUAL REPORT 2022 + + + + + FORWARD-LOOKING STATEMENTS + + + + + + + + STRATEGIC REPORT + + + + + GOVERNANCE + + + + + FINANCIALS + + + + + 4 + + + + + + Special note regarding forward-looking statements + + + + + + This Annual Report contains statements relating to our expected business, results projections, business trends and other matters that are "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify these statements by the use of words like "may", "will", "could", "should", "project", "believe", "anticipate", "expect", "plan", "estimate", "forecast", "potential", "intend", "continue" and variations of these words or comparable words. They appear in a number of places throughout this Annual Report and include statements with respect to our expected trends and outlook, strategies, corporate priorities and goals, expected semiconductor industry trends, expected trends in markets served by our customers, including expected growth in semiconductor demand, manufacturing + + + + + capacity, expected semiconductor market trends and market growth and drivers of such trends and growth, expected financial results, including expected sales, service revenue, gross margin, expected capital expenditures, R&D and SG&A expenses, effective annualized tax rate, annual revenue growth rate and outlook for 2023 and other statements under "Trend Information", annual sales and gross margin opportunity and potential and growth outlook and for 2025 and 2030, sales model for 2025 and other statements under the section entitled "Long-term growth opportunities", statements under the section entitled "Risk factors", expected trends in customer demand and demand for semiconductors including expected trends in end markets, including Memory and Logic, expected development of High-NA and expected timing to start shipment of High-NA systems + + + + + and high-volume production of High-NA systems, for semiconductor industry market opportunities, expected EUV and DUV and installed based management sales and the expectation about continuing role of DUV systems, EUV product roadmap, our supply chain strategies and goals, customer, partner and industry roadmaps, expected productivity and benefits of our tools, potential future innovations and system performance, expected shipments of our tools, including demand for and timing of shipments, statements with respect to DUV and EUV competitiveness, the development of EUV technology, revenue recognition, expected demand for wafers, expected impact of inflation, ESG strategy including our sustainability targets, goals and strategies, environmental, diversity and sustainability strategy, ambitions, goals and + + + + + targets, including circular procurement goals, targeted greenhouse gas emissions and waste reduction, recycling and refurbishment initiatives, investments and goals and energy-saving strategies and targets, including statements on targeting zero carbon emissions and indirect emissions from energy use across operations and reducing intensity of all other emissions in the value chain and the goals for timing thereof, statements with respect to Moore's Law, cash return and dividend policy, our expectation to continue to return cash to our shareholders through share buybacks and dividends including our proposed dividend for 2022 and statements relating to our share buyback program, statements with respect to the expected impact of accounting standards and other non-historical statements. These forward-looking + + + + + statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about business and future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance, and actual results may differ materially from projected results as a result of certain risks, and uncertainties. These risks and uncertainties include, without limitation, those described under How we manage risk - Risk factors. These forward-looking statements are made only as of the date of this Annual Report. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. + + + + + + + + + + + +ASML ANNUAL REPORT 2022 + + + + + MESSAGE FROM THE CEO + + + + + + + + STRATEGIC REPORT + + + + + GOVERNANCE + + + + + FINANCIALS + + + + + 5 + + + + + + Record performance in a challenging year + + + With record net bookings for 2022, an innovation pipeline filled with new products and services and our talented, energized and engaged people, we face the future with great confidence. + + + + + + Dear Stakeholder, + + + The figures speak for themselves: record sales of €21.2 billion, up by 13.8% compared with 2021, a gross margin of 50.5% and a dividend per share of €5.80 add up to another outstanding year for ASML. Our net bookings stand at an unparalleled €30.7 billion for the year 2022, our pipeline is flowing freely, with a number of new products launched, set to launch or in development, and our people are talented, energized and engaged. Not surprisingly, we are looking forward to a very bright future with strong growth. I would like to thank all our stakeholders for their support during the year - and in particular I wish to pay tribute to our people, who have again displayed outstanding commitment and expertise, and without whom none of our achievements would have been possible. + + + Yet despite the positive numbers, the reality is that 2022 could actually have been even better. Our ability to meet customer demand continued to be impacted by a set of circumstances that were not fully in our control. The aftermath of COVID-19, the ongoing war in Ukraine and struggles among + + + + + Ultimately, we have seen the global chip shortage that first appeared in 2020 continue through 2022. We have all encountered this in one way or another in our personal lives, whether through delays in taking ownership of a new vehicle or reduced availability of technology such as solar panels. + + + Delivering on our business strategy… + + + Although we have at times struggled operationally, from a strategic standpoint we have continued to deliver. Our comprehensive product portfolio is aligned to our customers' roadmaps, delivering cost- effective solutions in support of all applications, from leading-edge to mature nodes. Among many highlights of the year, we shipped the first TWINSCAN NXT:2100i, received new orders for the TWINSCAN EXE:5200 and saw several customers adopt Alignment Optimization 12 Color. + + + + + While we had more unhappy customers than I would have liked, we have also experienced empathy and support. We have always kept customers fully informed of any delays to shipments, and they can see for themselves how our investments are set to increase capacity. Cranes stand across the skylines of our sites as our investment to increase our manufacturing capacity to 90 EUV 0.33 NA and 600 DUV systems by 2025-2026 begins to take shape, while we are also ramping our EUV 0.55 NA (High-NA) capacity to 20 systems by 2027-2028. And key partners such as Carl Zeiss are also busy adding capacity, doing everything they can to free the logjam in the supply chain. + + + + + + + some of our supply chain partners to deliver according to our agreed plans due to material shortages have combined to cause significant turbulence and meant that we were unable to give our customers what they needed all of the time. + + + + + Our investments are set to increase capacity." + + + Peter Wennink + + + President, Chief Executive Officer and Chair of the Board of Management + + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +ASML Holding NV published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 08:34:03 UTC. + + diff --git "a/news/ASML/2023.02.15/Asml N : Jaarlijkse financi\303\253le verslaggeving.txt" "b/news/ASML/2023.02.15/Asml N : Jaarlijkse financi\303\253le verslaggeving.txt" new file mode 100644 index 0000000000000000000000000000000000000000..39de0f4149166befbd211c651e68cead5ba11c54 --- /dev/null +++ "b/news/ASML/2023.02.15/Asml N : Jaarlijkse financi\303\253le verslaggeving.txt" @@ -0,0 +1,81 @@ + +ASML Holding N.V., Jaarlijkse financiële verslaggeving + + + ASML Holding N.V., Jaarlijkse financiële verslaggeving + + + Below you will find information from the register financial reporting. The information has been provided by the organisation. + + + + +Filing date15 feb 2023 + + +Issuing institutionASML Holding N.V. + + +Reporting year2022 + + + + + Previous result + + +Next result + + + + + + Document + + + + + + + Type of document + + + Document + + + + + + +Type of documentJaarlijkse financiële verslaggeving + + +Documentasml-2022-12-31-en-a2204-02167.zip + + + + + + + + Date last update: 15 February 2023 + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +ASML Holding NV published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 20:27:04 UTC. + + diff --git "a/news/ASML/2023.02.15/Asml: based on initial findings, we do not believe \"misappropria\342\200\246.txt" "b/news/ASML/2023.02.15/Asml: based on initial findings, we do not believe \"misappropria\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..6c6e572e052324e4c0f36befd384d98c5afd2a47 --- /dev/null +++ "b/news/ASML/2023.02.15/Asml: based on initial findings, we do not believe \"misappropria\342\200\246.txt" @@ -0,0 +1 @@ +ASML: BASED ON INITIAL FINDINGS, WE DO NOT BELIEVE "MISAPPROPRIATION" INCIDENT WAS MATERIAL TO BUSINESS \ No newline at end of file diff --git "a/news/ASML/2023.02.15/Asml: we have reported \"misappropriation\" incident to authoritie\342\200\246.txt" "b/news/ASML/2023.02.15/Asml: we have reported \"misappropriation\" incident to authoritie\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..ab9a19d5463e4d55c4838608c8309b3701772a24 --- /dev/null +++ "b/news/ASML/2023.02.15/Asml: we have reported \"misappropriation\" incident to authoritie\342\200\246.txt" @@ -0,0 +1 @@ +ASML: WE HAVE REPORTED "MISAPPROPRIATION" INCIDENT TO AUTHORITIES -STATEMENT \ No newline at end of file diff --git a/news/ASML/2023.02.15/Chinese chip trade group opposes export controls from U.S., Netherlands, Japan.txt b/news/ASML/2023.02.15/Chinese chip trade group opposes export controls from U.S., Netherlands, Japan.txt new file mode 100644 index 0000000000000000000000000000000000000000..ac60abcfda91bc0f045b8f8dab276cc33648940b --- /dev/null +++ b/news/ASML/2023.02.15/Chinese chip trade group opposes export controls from U.S., Netherlands, Japan.txt @@ -0,0 +1 @@ +The restrictions, should they become a reality, "will cause serious harm to the semiconductor industry in China, with detriment to the global economy, as well as long-term damages to the interests of consumers world-wide," the association said in a statement.CSIA also called on the Chinese government to establish rules "for maintaining the healthy development of the global semiconductor industry ecology." In January, media reports surfaced stating that Japan and the Netherlands had agreed to comply with export restrictions against China's chip sector that the U.S. government had announced in October 2022. The initial U.S. sanctions took aim at Chinese purchases of advanced artificial intelligence (AI) computing chips, as well as equipment that chip factories could use to produce leading-edge computing chips.Japan and the Netherlands are market leaders in the latter category. Both countries are the only producers of market-competitive lithography machines, which are a key component in the chip manufacturing process. The governments have not directly addressed reports that they are cooperating with the United States, and the degree of their compliance and the restrictions' enforcement remains unclear.The Netherlands' ASML is the world's dominant provider of extreme ultraviolet (EUV) lithography machines, which it had already ceased selling to China in compliance with an earlier U.S. ban.Along with ASML, Japan's Nikon Corp and Canon Inc produce deep ultraviolet (DUV) lithography machines, which chip manufacturers use to make less advanced chips.Shanghai-based chip foundry Semiconductor Manufacturing International Corp and Wuhan-based memory maker Yangtze Memory Technologies Co Ltd are among the Chinese companies set to be affected by the restrictions. (Reporting by Josh Horwitz; Editing by Christopher Cushing, Tom Hogue and Jamie Freed) \ No newline at end of file diff --git a/news/ASML/2023.02.16/European shares at one-year high on Airbus, Relx boost.txt b/news/ASML/2023.02.16/European shares at one-year high on Airbus, Relx boost.txt new file mode 100644 index 0000000000000000000000000000000000000000..1d7d111781aee0cc1769e0144e5d35f4e5ab478a --- /dev/null +++ b/news/ASML/2023.02.16/European shares at one-year high on Airbus, Relx boost.txt @@ -0,0 +1 @@ +The pan-Europe STOXX 600 index rose 0.5%, its highest level since Feb. 16, 2022. France's CAC 40 added 0.9% to lead gains among its regional peers.Planemaker Airbus gained 3.2%, boosting both indexes, while opioid addiction treatment maker Indivior tumbled 11.2% to lead losses on the main European index after it reported an annual operating loss. Airbus targeted 2023 jet deliveries, in line with its original estimate for last year, but slowed the production ramp-up of its best-selling A320neo jets.Positive sentiment also spilled over from Asian markets as investors choose to cheer strong U.S. retail sales data as good news for earnings rather than worry about it being likely to support interest rate rises. [MKTS/GLOB]All eyes will now be on European Central Bank speakers through the day, with board member Fabio Panetta backing the case for raising interest rates in smaller increments and avoid committing to future moves as inflation in the euro zone falls. "U.S. data support a soft (or no) landing scenario," said Rainer Guntermann, rates strategist at Commerzbank, but warned that the ECB terminal rate pricing continues to flirt with new highs. Rate-sensitive technology shares added 0.6%, with Dutch chip equipment maker ASML Holding delivering the biggest boost. European miners rose 0.9% as copper prices in London rebounded from five-week lows amid hopes for a demand recovery in top consumer China. [MET/L]The STOXX 600 has had a positive start to the year following a battering in 2022, boosted by hopes that the euro zone will narrowly avoid a recession, a recovery in China demand and upbeat earnings. BIG EARNINGS BOOST Relx gained 3.1%, lifting European media stocks by 1.6%, as the company said it was using generative AI to supercharge its legal, health and science products and forecast strong growth in 2023. Pernod Ricard gained 4.6% after the drinks maker delivered forecast-beating first-half profit and sales, while UK's Standard Chartered reported a 28% rise in annual pretax profit and unveiled a new $1 billion share buyback programme, pushing its shares 1.8% higher. Germany's Commerzbank jumped 9.6% on better-than-expected quarterly net profit, while French telecoms company Orange rose 5% as it said it expects to bolster cash flows and increase shareholder returns by 2025. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty and Sherry Jacob-Phillips)By Shreyashi Sanyal \ No newline at end of file diff --git a/news/ASML/2023.02.16/World Press Review: February 16.txt b/news/ASML/2023.02.16/World Press Review: February 16.txt new file mode 100644 index 0000000000000000000000000000000000000000..e25fa833a75d69d2a97d9feb0b1e24665e9898b8 --- /dev/null +++ b/news/ASML/2023.02.16/World Press Review: February 16.txt @@ -0,0 +1,4 @@ + +Nestlé, Airbus, Renault, Schneider Electric, Aveva, Pernod Ricard, Standard Chartered, Amazon, ASML, Heineken, Repsol, Grifols, Cisco, Tesla, Meta, Roku, AIG, BYD, Newcrest Mining & Newmont + + diff --git a/news/ASML/2023.02.20/ASML reports transactions under its current share buyback program.txt b/news/ASML/2023.02.20/ASML reports transactions under its current share buyback program.txt new file mode 100644 index 0000000000000000000000000000000000000000..0f28f481276e74182bd269ea4c5fc14db5491c06 --- /dev/null +++ b/news/ASML/2023.02.20/ASML reports transactions under its current share buyback program.txt @@ -0,0 +1 @@ +ASML reports transactions under its current share buyback programVELDHOVEN, the Netherlands – ASML Holding N.V. (ASML) reports the following transactions, conducted under ASML's current share buyback program.ASML’s current share buyback program was announced on 10 November 2022, and details are available on our website at https://www.asml.com/en/news/share-buybacksThis regular update of the transactions conducted under the buyback program is to be made public under the Market Abuse Regulation (Nr. 596/2014).2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ASML/2023.02.24/U.S. economic resilience could add luster to semiconductor shares.txt b/news/ASML/2023.02.24/U.S. economic resilience could add luster to semiconductor shares.txt new file mode 100644 index 0000000000000000000000000000000000000000..11bff76b0e6d994a6bce91bae325f49564e13612 --- /dev/null +++ b/news/ASML/2023.02.24/U.S. economic resilience could add luster to semiconductor shares.txt @@ -0,0 +1 @@ +The Philadelphia SE Semiconductor index is up about 16% so far this year, dwarfing the 3% year-to-date gain for the S&P 500 and the Nasdaq Composite's 8.5% rise. Semiconductors were among the worst hit areas in last year's market rout, which saw the SOX index lose 36%, fueled by worries of an imminent recession. They have been standouts in the market's 2023 rebound, supported in part by evidence that the U.S. economy continues to be robust even after the Federal Reserve unleashed its most aggressive monetary policy tightening in decades to fight inflation. With semiconductors a key component in countless products, some investors are betting economic strength could help the shares outperform. Despite last year's recession fears, the market now believes "the economy is going to continue to chug along," said King Lip, chief strategist at Baker Avenue Wealth Management, whose firm owns shares of Nvidia and On Semiconductor. "If that's the case, then I think semiconductors can do very well."Of course, economic strength has been a double-edged sword for stocks lately. Semiconductor shares have pulled back recently along with broader markets on worries of a "no landing" economic scenario in which strong growth keeps inflation elevated and prompts the Fed to raise interest rates higher for longer. More insight into the state of the economy comes next week with a raft of data due, including consumer confidence and durable goods.Still, virtually all of the 30-component Philadelphia semis index have outperformed the broader market this year, led by heavyweight Nvidia's roughly 60% year-to-date gain.The chip designer's shares rose 14% on Thursday after it forecast first-quarter revenue above estimates as its CEO said use of its chips to power artificial intelligence services had "gone through the roof in the last 60 days." The rally in Nvidia's shares has catapulted its market value to $570 billion, making it the sixth most valuable S&P 500 company after electric automaker Tesla.Graphic: Chip stocks vs the S&P 500 Whether the group maintains its momentum could depend on companies hitting earnings estimates that were marked down severely in the last year.Forward 12-month earnings estimates for semiconductor companies declined 28% from June of last year to January, the largest such downward revision in a decade, according to Stacy Rasgon, an analyst at Bernstein."We have had one of the larger earnings resets that we have had in a quite a while," Rasgon said.Earnings for the S&P 500 semiconductor and semiconductor equipment industry, which has a nearly 6% weight in the index, are expected to fall 20% this year, but are seen perking up in the last quarter of the year, according to Refinitiv IBES. "It's not that fundamentals are incredibly good right now," said Peter Tuz, president of Chase Investment Counsel. But, he said, "the outlook down the road seems to be a little bit better than it was in late 2022."Not every chip stock has thrived. Intel shares have slumped 5% this year. The company earlier this week cut its dividend payout to its lowest in 16 years amid slowing demand for its chips used in personal computers and data centers.While chip stocks might benefit from a stronger economy, few expect them to be immune to the adverse effects of higher Treasury yields, which have surged along with Fed rate expectations. Rising yields offer investment competition to stocks and make equities more expensive in standard analyst valuation models - particularly for tech companies, whose market value is more dependent on future profits.And if tighter Fed policy eventually brings on a recession in the second half of the year, as some fear, semis could suffer.Burns McKinney, a portfolio manager at NFJ Investments, also sees declining demand in the personal computer market after the pandemic boom as yet another obstacle for the sector. Nevertheless, he believes the sector could thrive in the longer-term, especially if signs of cooling inflation eventually allow the Fed to slow its monetary policy tightening later in the year. McKinney holds positions in Texas Instruments and ASML Holding. "Lower data prints should give the Fed the ability to take their foot off the brakes, and if that takes place it would be a positive for cyclical tech stocks," McKinney said. (Reporting by Lewis Krauskopf; additional reporting by David Randall in New York and Noel Randewich in San Francisco; Editing by Ira Iosebashvili and Deepa Babington)By Lewis Krauskopf \ No newline at end of file diff --git a/news/ASML/2023.02.27/ASML reports transactions under its current share buyback program.txt b/news/ASML/2023.02.27/ASML reports transactions under its current share buyback program.txt new file mode 100644 index 0000000000000000000000000000000000000000..0f28f481276e74182bd269ea4c5fc14db5491c06 --- /dev/null +++ b/news/ASML/2023.02.27/ASML reports transactions under its current share buyback program.txt @@ -0,0 +1 @@ +ASML reports transactions under its current share buyback programVELDHOVEN, the Netherlands – ASML Holding N.V. (ASML) reports the following transactions, conducted under ASML's current share buyback program.ASML’s current share buyback program was announced on 10 November 2022, and details are available on our website at https://www.asml.com/en/news/share-buybacksThis regular update of the transactions conducted under the buyback program is to be made public under the Market Abuse Regulation (Nr. 596/2014).2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ATVI/2023.01.03/Microsoft videogame testers form company's first U.S. union.txt b/news/ATVI/2023.01.03/Microsoft videogame testers form company's first U.S. union.txt new file mode 100644 index 0000000000000000000000000000000000000000..adff3fd4c022b150c2714f39fd36d37a990d24dd --- /dev/null +++ b/news/ATVI/2023.01.03/Microsoft videogame testers form company's first U.S. union.txt @@ -0,0 +1 @@ +The CWA said Zenimax employees at four locations in Maryland and Texas voted overwhelmingly to join the union, but did not provide a tally. Zenimax owns major game franchises including The Elder Scrolls and Fallout.Microsoft did not immediately respond to a request for comment. It has said it would voluntarily recognize the union if the workers voted to unionize.Voluntarily agreeing to bargain allows Microsoft to avoid a formal election overseen by the U.S. National Labor Relations Board and the legal battles that often ensue.CWA President Christopher Shelton in a statement said Microsoft has set itself apart from other tech companies that have discouraged union campaigns. "Microsoft is charting a different course which will strengthen its corporate culture and ability to serve its customers and should serve as a model for the industry and as a blueprint for regulators," Shelton said.The company in June entered into an agreement with the CWA to remain neutral in union organizing campaigns at Activision Blizzard Inc, which Microsoft is seeking to purchase for $69 billion. U.S. regulators sued to block the deal last month. Game testers at Activision units Blizzard Albany and Raven Software voted in 2022 to join unions amid claims by the CWA that the company has threatened and retaliated against union supporters. Activision has denied wrongdoing. (Reporting by Daniel Wiessner in Albany, New York; Editing by Bill Berkrot)By Daniel Wiessner \ No newline at end of file diff --git a/news/ATVI/2023.01.03/No 'substantive' settlement talks between U.S. FTC, Microsoft over Activision -lawyer.txt b/news/ATVI/2023.01.03/No 'substantive' settlement talks between U.S. FTC, Microsoft over Activision -lawyer.txt new file mode 100644 index 0000000000000000000000000000000000000000..7a4bab073ba09c82a092c1f01430a1a982587c98 --- /dev/null +++ b/news/ATVI/2023.01.03/No 'substantive' settlement talks between U.S. FTC, Microsoft over Activision -lawyer.txt @@ -0,0 +1 @@ +The FTC, which enforces antitrust law, asked a judge to block the transaction in early December, arguing it would give Microsoft's Xbox exclusive access to Activision games, leaving Nintendo consoles and Sony Group Corp's PlayStation out in the cold. FTC attorney James Weingarten, speaking in a brief telephonic pretrial hearing, said there were no "substantive" settlement discussions between the two sides under way.Microsoft argues that the deal would benefit gamers and gaming companies alike, offering to sign a legally binding consent decree with the FTC to provide "Call of Duty" games to rivals including Sony for a decade.The case reflects the muscular approach to antitrust enforcement being taken by the administration of U.S. President Joe Biden. But antitrust experts say the FTC faces an uphill battle to convince a judge to block the deal, because of the voluntary concessions offered by Microsoft to allay fears it could dominate the gaming market.Michael Chappell, the FTC administrative law judge, will rule on the deal after hearings set for August 2023. Either side can then appeal to the same FTC commissioners who voted to bring the challenge, and then to a U.S. appeals court.The deal faces scrutiny in the European Union which is to decide by March 23 whether to clear or block the deal. (Reporting by Diane Bartz in Washington; Editing by Matthew Lewis) \ No newline at end of file diff --git a/news/ATVI/2023.01.03/Video game workers form Microsoft's first US labor union.txt b/news/ATVI/2023.01.03/Video game workers form Microsoft's first US labor union.txt new file mode 100644 index 0000000000000000000000000000000000000000..8d66ab52988a719eea823d5a3c3f100ff1073fe2 --- /dev/null +++ b/news/ATVI/2023.01.03/Video game workers form Microsoft's first US labor union.txt @@ -0,0 +1 @@ +A group of video game testers has formed Microsoft's first labor union in the U.S., which will also be the largest in the video game industry.The Communications Workers of America said Tuesday that a majority of about 300 quality-assurance workers at Microsoft video game subsidiary ZeniMax Studios has voted to join the union.Microsoft already told the CWA it would accept the formation of the union at its Maryland-based video game subsidiary, fulfilling a promise it made to try to build public support for its $68.7 billion acquisition of another big game company, Activision Blizzard.Microsoft bought ZeniMax for $7.5 billion in 2021, giving the Xbox-maker control of ZeniMax's well-known game publishing division Bethesda Softworks and popular game franchises such as The Elder Scrolls, Doom and Fallout.Senior game tester Wayne Dayberry said in an interview with The Associated Press that the unionization campaign began before Microsoft took over and reflected workplace concerns that are common at video game companies.“Throughout the industry, the quality assurance departments are treated poorly, paid very little, and treated as replaceable cogs,” said Dayberry, who has worked for five years at ZeniMax’s Rockville, Maryland headquarters on games such as Fallout, Prey and The Evil Within.“There’s not a lot of dignity involved in it," he said. "That’s something we’re hoping to show people in the industry who are in like situations, that if we can do it, they can do it as well.”The unionization campaign accelerated thanks to Microsoft's ongoing bid to buy California-based game giant Activision Blizzard. Microsoft, which is based in Redmond, Washington, made a June pact with the CWA union to stay neutral if Activision Blizzard workers sought to form a union.The worker-friendly pledge sought to appeal to U.S. regulator concerns under President Joe Biden about the labor implications of massive business mergers, though it didn't stop the Federal Trade Commission from suing last month to block Microsoft's planned Activision Blizzard acquisition. The antitrust case had its first hearing Tuesday and could drag on for months.Two small units of Activision Blizzard workers were the first to certify unions last year in Middleton, Wisconsin and Albany, New York. A third, Boston-based Activision Blizzard subsidiary Proletariat, filed a Dec. 27 petition with the National Labor Relations Board to unionize its 57 workers.Microsoft's legally binding neutrality agreement specifically applied to Activision Blizzard workers after the closing of the merger. But it also reflects Microsoft's broader principles on handling unionization, which is still uncommon in the tech and gaming industries.Dayberry said Microsoft's neutrality promise gave workers confidence that there wouldn’t be any “retaliation or union-busting, which there has been none of.”Microsoft's green light allowed the ZeniMax union certification to go through a third-party arbitrator rather than the lengthier process typically overseen by the NLRB. A weekslong election period ended on Dec. 31 and was formally certified Tuesday. Microsoft said in a statement that it recognizes the union.“They have definitely stood by their word all along,” said CWA spokesperson Beth Allen. “It’s pretty momentous. Microsoft is an outlier in the way tech companies have been behaving.”The unionizing workers are based in Hunt Valley and Rockville, Maryland, as well as the Texas cities of Austin and Dallas.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/ATVI/2023.01.11/Activision Blizzard to Release Fourth Quarter 2022 Financial Results on February 6, 202...txt b/news/ATVI/2023.01.11/Activision Blizzard to Release Fourth Quarter 2022 Financial Results on February 6, 202...txt new file mode 100644 index 0000000000000000000000000000000000000000..f11e8f306c735c30da3ce4e11351e58d73760f34 --- /dev/null +++ b/news/ATVI/2023.01.11/Activision Blizzard to Release Fourth Quarter 2022 Financial Results on February 6, 202...txt @@ -0,0 +1,25 @@ + +Activision Blizzard, Inc. (Nasdaq: ATVI) intends to release its fourth quarter 2022 results after the close of the market on Monday, February 6, 2023. + +As announced on January 18, 2022, Microsoft plans to acquire Activision Blizzard for $95.00 per share in an all-cash transaction. The transaction is subject to customary closing conditions and completion of regulatory review. The transaction has been approved by the boards of directors of both Activision Blizzard and Microsoft and by Activision Blizzard’s stockholders. + +In light of the proposed transaction with Microsoft, and as is customary during the pendency of an acquisition, Activision Blizzard will not be hosting a conference call, issuing an earnings presentation, or providing detailed quantitative financial guidance in conjunction with its fourth quarter 2022 earnings release. + +Activision Blizzard Disclosure Channels to Disseminate Information + +Activision Blizzard, Inc. (“Activision Blizzard”) discloses information to the public concerning Activision Blizzard, Activision Blizzard’s products, content and services, and other items through a variety of disclosure channels in order to achieve broad, non-exclusionary distribution of information to the public. Some of the information distributed through these disclosure channels may be considered material information. Investors and others are encouraged to review the information we make public in the locations below.1 This list may be updated from time to time. + +1 These corporate websites and social media channels, and the contents thereof, are not incorporated by reference into this press release nor deemed filed with the U.S. Securities and Exchange Commission. + +About Activision Blizzard + +Our mission, to connect and engage the world through epic entertainment has never been more important. Through communities rooted in our video games we enable hundreds of millions of people to experience joy, thrill and achievement. We enable social connections through the lens of fun, and we foster purpose and a sense of accomplishment through healthy competition. Like sport, but with greater accessibility, our players can find purpose and meaning through competitive gaming. Video games, unlike any other social or entertainment media, have the ability to break down the barriers that can inhibit tolerance and understanding. Celebrating differences is at the core of our culture and ensures we can create games for players of diverse backgrounds in the 190 countries our games are played. + +As a member of the Fortune 500 and as a component company of the S&P 500, we have an extraordinary track record of delivering superior shareholder returns for over 30 years. Our sustained success has enabled the company to support corporate social responsibility initiatives that are directly tied to our games. As an example, our Call of Duty Endowment has helped find employment for over 100,000 veterans. + +Learn more information about Activision Blizzard and how we connect and engage the world through epic entertainment on the company's website, www.activisionblizzard.com. + +Forward-Looking Statements + +This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 with respect to the proposed transaction between Microsoft Corporation (“Microsoft”) and Activision Blizzard, Inc. (“Activision Blizzard”), including statements regarding the benefits of the transaction, the anticipated timing of the transaction and the products and markets of each company. These forward-looking statements generally are identified by the words “believe,” “project,” “predicts,” “budget,” “forecast,” “continue,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (or the negative versions of such words or expressions). Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect Activision Blizzard’s business and the price of the common stock of Activision Blizzard, (ii) the failure to satisfy the conditions to the consummation of the transaction, including the receipt of certain governmental and regulatory approvals, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (iv) the effect of the announcement or pendency of the transaction on Activision Blizzard’s business relationships, operating results, and business generally, (v) risks that the proposed transaction disrupts current plans and operations of Activision Blizzard or Microsoft and potential difficulties in Activision Blizzard employee retention as a result of the transaction, (vi) risks related to diverting management’s attention from Activision Blizzard’s ongoing business operations, (vii) the outcome of any legal proceedings that have been or may be instituted against Microsoft or against Activision Blizzard related to the merger agreement or the transaction, (viii) the ability of Microsoft to successfully integrate Activision Blizzard’s operations, product lines, and technology, the impact of the COVID-19 pandemic on Activision Blizzard’s business and general economic conditions, (ix) restrictions during the pendency of the proposed transaction that may impact Activision Blizzard’s ability to pursue certain business opportunities or strategic transactions and (x) the ability of Microsoft to implement its plans, forecasts, and other expectations with respect to Activision Blizzard’s business after the completion of the proposed merger and realize additional opportunities for growth and innovation. In addition, please refer to the documents that Microsoft and Activision Blizzard file with the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K. These filings identify and address other important risks and uncertainties that could cause events and results to differ materially from those contained in the forward-looking statements set forth in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Microsoft and Activision Blizzard assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230111005882/en/ \ No newline at end of file diff --git a/news/ATVI/2023.01.16/Microsoft faces EU antitrust warning over Activision deal - sources.txt b/news/ATVI/2023.01.16/Microsoft faces EU antitrust warning over Activision deal - sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..0f6db11cade54bd5279047d36b32e916de561438 --- /dev/null +++ b/news/ATVI/2023.01.16/Microsoft faces EU antitrust warning over Activision deal - sources.txt @@ -0,0 +1 @@ +The European Commission is readying a charge sheet known as a statement of objections setting out its concerns about the deal which will be sent to Microsoft in the coming weeks, the people said.The EU antitrust watchdog, which has set an April 11 deadline for its decision on the deal, declined to comment.Microsoft said: "We're continuing to work with the European Commission to address any marketplace concerns. Our goal is to bring more games to more people, and this deal will further that goal."The U.S. software giant and Xbox maker announced the acquisition in January last year to help it compete better with leaders Tencent and Sony.U.S. and UK regulators, however, have voiced concerns, with the U.S. Federal Trade Commission going to court to block the deal.Microsoft was expected to offer remedies to EU regulators in an attempt to avert a statement of charge and shorten the regulatory process, other sources familiar with the matter told Reuters in November.The EU competition enforcer, however, is not expected to be open to remedies without first sending out its charge sheet, although there are ongoing informal discussions on concessions, the people said. Microsoft last month reached a 10-year deal with Nintendo to make "Call of Duty" available on Nintendo consoles, saying it was open to a similar agreement with Sony, which is critical of the acquisition.The deal has received the green light without conditions in Brazil, Saudi Arabia and Serbia. (Reporting by Foo Yun Chee; Editing by Mark Potter)By Foo Yun Chee \ No newline at end of file diff --git a/news/ATVI/2023.01.16/Microsoft may face EU warning over Activision deal.txt b/news/ATVI/2023.01.16/Microsoft may face EU warning over Activision deal.txt new file mode 100644 index 0000000000000000000000000000000000000000..350ff346471655cc3dec6539fe1181ff94b713ba --- /dev/null +++ b/news/ATVI/2023.01.16/Microsoft may face EU warning over Activision deal.txt @@ -0,0 +1 @@ +Reuters sources say the $69 billion deal is likely to attract a warning from EU competition watchdogs. The European Commission is said to be readying a charge sheet known as a 'statement of objections'. That's a list of concerns which will be sent to Microsoft. The software giant announced the acquisition of the 'Call of Duty' maker in January last year. It hopes the deal will help it compete with rivals Tencent and Sony. But the takeover has already faced objections from watchdogs in the U.S. and UK. The U.S. Fair Trade Commission is going to court to block it. Microsoft was expected to offer remedies to EU regulators to head off trouble there. However, the Reuters sources say Brussels won't consider remedies before first setting out its concerns. Microsoft last month reached a 10-year deal with Nintendo to make Call of Duty available on its consoles. It says it's open to a similar deal with Sony, which has been strongly critical of the takeover. \ No newline at end of file diff --git a/news/ATVI/2023.01.17/'World of Warcraft' battle heats up as NetEase rejects Blizzard offer.txt b/news/ATVI/2023.01.17/'World of Warcraft' battle heats up as NetEase rejects Blizzard offer.txt new file mode 100644 index 0000000000000000000000000000000000000000..010640f02b90b66e03f868748afa53ce5b8cf23d --- /dev/null +++ b/news/ATVI/2023.01.17/'World of Warcraft' battle heats up as NetEase rejects Blizzard offer.txt @@ -0,0 +1,39 @@ +HONG KONG, Jan 18 (Reuters) - Chinese games publisher +NetEase Inc NTES.O said on Wednesday it has rejected a +proposal from Activision Blizzard Inc to extend their +long-time partnership for six months, as the U.S. game developer +looks for a new partner.NetEase said the proposal was "commercially illogical" and +accused the U.S. firm of "seeking a divorce but still remaining +attached," in a rare public display of acrimony between the two +gaming giants.Blizzard said in November it would end its 14-year +partnership with NetEase - sending shockwaves across the +industry as the partnership was widely seen as one of the most +lucrative in video games.The companies had been unable to agree on key terms of +cooperation and hits such as 'World of Warcraft' will not be +available in China, the world’s largest gaming market, from Jan. +23.NetEase said Blizzard reached out last week with an offer to +extend the partnership for six months but also made it clear +that it would not stop negotiating with other potential +partners."Considering the non-reciprocity, unfairness and other +strict conditions attached to the cooperation, the parties could +not reach an agreement in the end," China's second-largest +gaming company said in a statement.The exact sticking points that soured the deal, which +started in 2008 and was renewed in 2019, remain unclear.A person close to Blizzard said the dispute that scuttled +the renewal revolved around commercial terms rather than data +issues as some media had reported.The person, who declined to be identified due to the +sensitivity of the issue, said NetEase had proposed to make +structural changes to the partnership that would affect +Blizzard’s control over its intellectual property (IP).In its statement late on Tuesday, NetEase said it had +never requested control over IP from Blizzard or any other +partners as a publishing company over the past 14 years.“Any usage and licensing of Blizzard’s IP were done in +accordance with contract terms and with Blizzard’s consent and +approval,” it said.Activision Blizzard did not immediately respond to a Reuters +request for comment.With the demise of their partnership, Blizzard is currently +without a Chinese publisher. Unlike other countries, foreign +gaming companies typically need a Chinese publisher before they +can release games in China.NetEase rose to become a gaming giant partly by publishing +Blizzard's games in China. It has since accelerated its own game +development capability, with in-house games now accounting for +more than 60% of revenue. +(Reporting by Josh Ye; Editing by Anne Marie Roantree, Edwina +Gibbs and Kim Coghill) \ No newline at end of file diff --git a/news/ATVI/2023.01.17/Blizzard says China's NetEase rejects proposal to extend partnership for six months.txt b/news/ATVI/2023.01.17/Blizzard says China's NetEase rejects proposal to extend partnership for six months.txt new file mode 100644 index 0000000000000000000000000000000000000000..c6e59f2312cd99dc65d9123eb71827d13e15aac4 --- /dev/null +++ b/news/ATVI/2023.01.17/Blizzard says China's NetEase rejects proposal to extend partnership for six months.txt @@ -0,0 +1 @@ +In a statement released on Chinese microblogging site Weibo, the company's subsidiary Blizzard China said it had contacted NetEase last week with a proposal to extend their partnership for six months which the Hangzhou-based company had rejected. Blizzard China added that its game services will be discontinued on Jan. 23 in accordance with NetEase' announcement. (Reporting by Josh Ye; Editing by Kim Coghill)By Josh Ye \ No newline at end of file diff --git a/news/ATVI/2023.01.17/Microsoft expands access to OpenAI tools, M&S inves...txt b/news/ATVI/2023.01.17/Microsoft expands access to OpenAI tools, M&S inves...txt new file mode 100644 index 0000000000000000000000000000000000000000..d73a5fd59b69f018174988b2ac2b6e35c384734e --- /dev/null +++ b/news/ATVI/2023.01.17/Microsoft expands access to OpenAI tools, M&S inves...txt @@ -0,0 +1,12 @@ + +Microsoft, Bain Capital, Activision & NetEase, Marks and Spencer, Wise, THG, Ocado, ITM Power, BNP Paribas, Renault, Saudi Aramco, Iberdrola, Siemens, Evergrande and Alibaba feature in this press review! + + + + + +  +  +  +  +  diff --git a/news/ATVI/2023.01.19/Playtika offers to buy 'Angry Birds' maker Rovio for $683 million.txt b/news/ATVI/2023.01.19/Playtika offers to buy 'Angry Birds' maker Rovio for $683 million.txt new file mode 100644 index 0000000000000000000000000000000000000000..b8b719321d0b44bfa47c89dc312dbe55b4418bf0 --- /dev/null +++ b/news/ATVI/2023.01.19/Playtika offers to buy 'Angry Birds' maker Rovio for $683 million.txt @@ -0,0 +1 @@ +The offer price of 9.08 euros per share represents a premium of about 60% to Rovio's close of trading on Jan. 19.Rovio did not immediately respond to a request for comment.Playtika's offer is roughly 40 million euros more than its previous offer in November.Shares of Playtika were down 4.7%.The latest offer comes as the gaming industry is going through a round of consolidation. Last year, Microsoft offered to buy Activision Blizzard for $69 billion, while Sony Interactive Entertainment said it would acquire Bungie Inc, the original creator of the "Halo" videogame, in a deal valued at $3.6 billion.($1 = 0.9261 euros) (Reporting by Tiyashi Datta in Bengaluru; Editing by Maju Samuel) \ No newline at end of file diff --git "a/news/ATVI/2023.01.24/Microsoft cfo says company continues to aim for fiscal-year 2023\342\200\246.txt" "b/news/ATVI/2023.01.24/Microsoft cfo says company continues to aim for fiscal-year 2023\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..fb1bfd13b69ac69ff8aae1b81a38111d5fb29b96 --- /dev/null +++ "b/news/ATVI/2023.01.24/Microsoft cfo says company continues to aim for fiscal-year 2023\342\200\246.txt" @@ -0,0 +1 @@ +MICROSOFT CFO SAYS COMPANY CONTINUES TO AIM FOR FISCAL-YEAR 2023 CLOSURE OF ACTIVISION DEAL SUBJECT TO REGULATORY APPROVAL \ No newline at end of file diff --git a/news/ATVI/2023.01.26/Sony's gaming chief met EU's Vestager on Microsoft's Activision deal -source.txt b/news/ATVI/2023.01.26/Sony's gaming chief met EU's Vestager on Microsoft's Activision deal -source.txt new file mode 100644 index 0000000000000000000000000000000000000000..6380ebfc89d530124023fa65d935d5442defc874 --- /dev/null +++ b/news/ATVI/2023.01.26/Sony's gaming chief met EU's Vestager on Microsoft's Activision deal -source.txt @@ -0,0 +1 @@ +The meeting came as the EU competition watchdog prepares to warn Microsoft this week about the potential anti-competitive effects of the U.S. software giant and Xbox maker's acquisition in the biggest gaming industry deal in history.Microsoft is looking to Activision to help it compete better with leaders Tencent and Sony. The latter has criticised the deal and even called for a regulatory veto.The person declined to provide details of the discussion between Ryan and Vestager. The European Commission, which is scheduled to rule on the deal by April 11, did not immediately respond to a request for comment. The U.S. Federal Trade Commission has sued to block the deal while UK regulators have also expressed concerns. (Reporting by Foo Yun Chee; Editing by Kirsten Donovan)By Foo Yun Chee \ No newline at end of file diff --git a/news/ATVI/2023.02.03/Activision Blizzard settles SEC charges for $35 million.txt b/news/ATVI/2023.02.03/Activision Blizzard settles SEC charges for $35 million.txt new file mode 100644 index 0000000000000000000000000000000000000000..2df76674068fe61c83984d48393a91eb429201e8 --- /dev/null +++ b/news/ATVI/2023.02.03/Activision Blizzard settles SEC charges for $35 million.txt @@ -0,0 +1 @@ +Government regulators announced Friday that videogame maker Activision Blizzard has agreed to pay $35 million to settle charges that it failed to maintain controls to collect and assess workplace complaints with regard to disclosure requirements and violated a federal whistleblower protection rule.The lack of necessary controls left Activision "without the means to determine whether larger issues existed that needed to be disclosed to investors,” said Jason Burt, director of the SEC’s Denver office. “Moreover, taking action to impede former employees from communicating directly with the Commission staff about a possible securities law violation is not only bad corporate governance, it is illegal.”In paying the settlement, Activision neither admitted nor denied the SEC's findings and agreed to a cease-and-desist order, the agency said.Friday's settlement comes after the troubled Santa Monica, California-based gaming company settled with U.S. workplace regulators in 2021 over employee complaints about sexual harassment. Workers then also accused the company of discriminating against employees who were pregnant and retaliating against employees who spoke out, including firing them.In that settlement, the maker of Candy Crush, Call of Duty, Overwatch and World of Warcraft agreed to create an $18 million fund to compensate people who were harassed or discriminated against. Money left over would go to charities for women in the video game industry or other gender equity measures. Activision also agreed to strengthen its policies and training on harassment and discrimination and hire an independent consultant to oversee its compliance with the U.S. Equal Employment Opportunity Commission's conditions.One month before that, in August of 2021, the company announced that its president, J. Allen Brack, was stepping down after the company was hit with a discrimination and sexual harassment lawsuit in California. California’s civil rights agency sued the Santa Monica-based company in July of 2021, citing a “frat boy” culture that had become a “breeding ground for harassment and discrimination against women.”Activision shares fell close to 2%, to $75.60 in afternoon trading on Friday. Shares hovered near $100 in the weeks leading up to the flurry of workplace misconduct charges in the summer of 2021.Just over a year ago, Microsoft said it was paying a hefty $68.7 billion for Activision, but the deal is being held up by regulators in the U.S. and Europe over anti-competitive concerns.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/ATVI/2023.02.03/Activision Blizzard to Pay $35 Million for Failing to Maintain Disclosure Controls Rela...txt b/news/ATVI/2023.02.03/Activision Blizzard to Pay $35 Million for Failing to Maintain Disclosure Controls Rela...txt new file mode 100644 index 0000000000000000000000000000000000000000..08e3acca6bb8a4b47efc288ca845468e2ca8d416 --- /dev/null +++ b/news/ATVI/2023.02.03/Activision Blizzard to Pay $35 Million for Failing to Maintain Disclosure Controls Rela...txt @@ -0,0 +1 @@ +Washington D.C. -- The Securities and Exchange Commission today announced that Activision Blizzard Inc., a video game development and publishing company, agreed to pay $35 million to settle charges that it failed to maintain disclosure controls and procedures to ensure that the company could assess whether its disclosures pertaining to its workforce were adequate. The company also settled charges that it violated an SEC whistleblower protection rule.According to the SEC's order, between 2018 and 2021, Activision Blizzard was aware that its ability to attract, retain, and motivate employees was a particularly important risk in its business, but it lacked controls and procedures among its separate business units to collect and analyze employee complaints of workplace misconduct. As a result, the company's management lacked sufficient information to understand the volume and substance of employee complaints about workplace misconduct and did not assess whether any material issues existed that would have required public disclosure. Separately, the SEC's order finds that, between 2016 and 2021, Activision Blizzard executed separation agreements in the ordinary course of its business that violated a Commission whistleblower protection rule by requiring former employees to provide notice to the company if they received a request for information from the Commission's staff."The SEC's order finds that Activision Blizzard failed to implement necessary controls to collect and review employee complaints about workplace misconduct, which left it without the means to determine whether larger issues existed that needed to be disclosed to investors," said Jason Burt, Director of the SEC's Denver Regional Office. "Moreover, taking action to impede former employees from communicating directly with the Commission staff about a possible securities law violation is not only bad corporate governance, it is illegal."The SEC's order finds that Activision Blizzard violated Exchange Act Rules 13a-15(a) and 21F-17(a). Without admitting or denying the SEC's findings, Activision Blizzard agreed to a cease-and-desist order and to pay a $35 million penalty.The SEC's investigation was conducted by Eric J. Day, Yamini Piplani Grema, and Daniel M. Konosky and was assisted by Helena Engelhart Bean of the Denver Regional Office. The investigation was supervised by Danielle R. Voorhees and Mr. Burt, also of the Denver Regional Office..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/ATVI/2023.02.03/Activision Blizzard to pay $35mln to settle workplace charges, U.S. SEC says.txt b/news/ATVI/2023.02.03/Activision Blizzard to pay $35mln to settle workplace charges, U.S. SEC says.txt new file mode 100644 index 0000000000000000000000000000000000000000..24597a4effe1568b996fd871b3f15e4f6d3d964a --- /dev/null +++ b/news/ATVI/2023.02.03/Activision Blizzard to pay $35mln to settle workplace charges, U.S. SEC says.txt @@ -0,0 +1 @@ +"Activision Blizzard failed to implement necessary controls to collect and review employee complaints about workplace misconduct, which left it without the means to determine whether larger issues existed that needed to be disclosed to investors," said Jason Burt, who heads the Securities and Exchange Commission's Denver office, said in a statement. (Reporting by Susan Heavey; Editing by Doina Chiacu) \ No newline at end of file diff --git a/news/ATVI/2023.02.06/'Call of Duty' steers Activision sales in tough quarter for game makers.txt b/news/ATVI/2023.02.06/'Call of Duty' steers Activision sales in tough quarter for game makers.txt new file mode 100644 index 0000000000000000000000000000000000000000..14d823ee42fa661e2d00b0b21c5afc692deee68f --- /dev/null +++ b/news/ATVI/2023.02.06/'Call of Duty' steers Activision sales in tough quarter for game makers.txt @@ -0,0 +1,32 @@ +Feb 6 (Reuters) - Videogame publisher Activision +Blizzard beat Wall Street estimates for fourth-quarter +adjusted sales on Monday, thanks to the success of the latest +game in its "Call of Duty" franchise.A string of launches in October and November, including +"Call of Duty: Modern Warfare II", "Warzone 2.0" and "World of +Warcraft: Dragonflight" from the fantastical world of "Azeroth", +helped the company hold the attention of the gaming community.Activision's results are a bright spot as some of its +industry peers including Electronics Arts, Take-Two +Interactive Software and Xbox maker Microsoft +have reported drab results.The video-gaming industry is feeling the squeeze of +inflation as American households tighten their budgets. However, +Activision has managed to largely avoid the issues plaguing the +wider industry and keep the buzz around its news launches +through its focus on building strong gaming franchises."Modern Warfare II" delivered the highest +opening-quarter sell-through in the franchise's history and +crossed the $1 billion mark within 10 days of its late-October +launch, the company said."Our specialists have highlighted a flight to quality by +gamers and that is what Activision Blizzard is experiencing," +said Nicholas Cauley, an analyst at global research firm Third +Bridge.Activision expects its full-year adjusted sales to grow at +least in high-single digits, bolstered by the launch of games +including "Diablo IV."Adjusted sales in the quarter ended Dec. 31 came in at $3.57 +billion, compared with analysts' estimate of $3.16 billion, +according to Refinitiv data.Activision's $69-billion takeover by Microsoft is being +challenged by the U.S. Federal Trade Commission and being +investigated by EU authorities. Activision said the companies +are continuing to engage with regulators reviewing the +transaction.Fourth quarter net income fell to $403 million, or 51 cents +per share, from $564 million, or 72 cents per share, a year +earlier. +(Reporting by Chavi Mehta in Bengaluru; Editing by Anil +D'Silva) \ No newline at end of file diff --git a/news/ATVI/2023.02.06/Activision Blizzard Announces Fourth Quarter and 2022 Financial Results.txt b/news/ATVI/2023.02.06/Activision Blizzard Announces Fourth Quarter and 2022 Financial Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..364ef48b63320cb1d680c3b49f548100d2d4b79e --- /dev/null +++ b/news/ATVI/2023.02.06/Activision Blizzard Announces Fourth Quarter and 2022 Financial Results.txt @@ -0,0 +1,11849 @@ + +Activision Blizzard, Inc. (Nasdaq: ATVI) today announced fourth quarter 2022 results. + +Bobby Kotick, CEO of Activision Blizzard, shared, "We ended 2022 with record quarterly net bookings as we delivered on our mission to bring epic joy to players. I’m grateful to our talented and hardworking teams for their many successes entertaining our hundreds of millions of players around the world. We look forward to a historic year, as we work toward merging with Microsoft. This merger will enable us to better serve our players, create greater opportunities for our employees, and allow us to succeed in an increasingly competitive global gaming industry.” + +Financial Metrics + +  + +  + +Q4 + +  + +CY + +(in millions, except EPS) + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +GAAP Net Revenues + +  + +$2,334 + +  + +$2,163 + +  + +$7,528 + +  + +$8,803 + +Impact of GAAP deferralsA + +  + +$1,232 + +  + +$324 + +  + +$986 + +  + +$(449) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP EPS + +  + +$0.51 + +  + +$0.72 + +  + +$1.92 + +  + +$3.44 + +Non-GAAP EPS + +  + +$0.78 + +  + +$1.01 + +  + +$2.58 + +  + +$4.08 + +Impact of GAAP deferralsA + +  + +$1.09 + +  + +$0.24 + +  + +$0.83 + +  + +$(0.36) + +Please refer to the tables at the back of this earnings release for a reconciliation of the company’s GAAP and non-GAAP results. + +For the year ended December 31, 2022, Activision Blizzard’s net revenues presented in accordance with GAAP were $7.53 billion, as compared with $8.80 billion for 2021. GAAP net revenues from digital channels were $6.63 billion. GAAP operating margin was 22%. GAAP earnings per diluted share was $1.92, as compared with $3.44 for 2021. On a non-GAAP basis, Activision Blizzard’s operating margin was 30% and earnings per diluted share was $2.58, as compared with $4.08 for 2021. + +For the quarter ended December 31, 2022, Activision Blizzard’s net revenues presented in accordance with GAAP were $2.33 billion, as compared with $2.16 billion for the fourth quarter of 2021. GAAP net revenues from digital channels were $1.97 billion. GAAP operating margin was 16%. GAAP earnings per diluted share was $0.51, as compared with $0.72 for the fourth quarter of 2021. On a non-GAAP basis, Activision Blizzard’s operating margin was 24% and earnings per diluted share was $0.78, as compared with $1.01 for the fourth quarter of 2021. + +Activision Blizzard generated $2.22 billion in operating cash flow for the year ended December 31, 2022, as compared with $2.41 billion for 2021. Activision Blizzard generated $1.12 billion in operating cash flow for the quarter as compared with $661 million for the fourth quarter of 2021. + +Please refer to the tables at the back of this press release for a reconciliation of the company’s GAAP and non-GAAP results. + +Operating Metrics + +For the year ended December 31, 2022, Activision Blizzard’s net bookingsB were $8.51 billion, as compared with $8.35 billion for 2021. In-game net bookingsC were $5.38 billion, as compared with $5.10 billion for 2021. + +For the quarter ended December 31, 2022, Activision Blizzard’s net bookingsB were $3.57 billion, as compared with $2.49 billion for the fourth quarter of 2021. In-game net bookingsC were $1.82 billion, as compared with $1.24 billion for the fourth quarter of 2021. + +For the quarter ended December 31, 2022, overall Activision Blizzard Monthly Active Users (MAUs)D were 389 million. + +Microsoft transaction + +As announced on January 18, 2022, Microsoft plans to acquire Activision Blizzard for $95.00 per share in an all-cash transaction. The transaction has been approved by the boards of directors of both Activision Blizzard and Microsoft and by Activision Blizzard’s stockholders. The two parties are continuing to engage with regulators reviewing the transaction and are working toward closing it in Microsoft’s fiscal year ending June 30 2023, subject to obtaining required regulatory approvals and satisfaction of other customary closing conditions. + +Conference Call and Earnings Presentation + +In light of the proposed transaction with Microsoft, and as is customary during the pendency of an acquisition, Activision Blizzard will not be hosting a conference call, issuing an earnings presentation, or providing detailed quantitative financial guidance in conjunction with its fourth quarter 2022 earnings release. For further detail and discussion of our financial performance please refer to our upcoming Annual Report on Form 10-K for the year ended December 31, 2022. + +Selected Business Highlights + +Activision Blizzard delivered 43% year-over-year net bookings growth and record segment financial results in the fourth quarter. Net bookings grew 49% year-over-year on a constant currency basisE. Amid an uncertain macro environment, our focus on expanding key intellectual properties across platforms, geographies and business models positions the business for further growth. + +Strong execution by our talented teams enabled each of our business units to break records in the fourth quarter. At Activision, Call of Duty®: Modern Warfare® II delivered the highest opening-quarter sell-through in franchise history. Blizzard reported its highest quarterly net bookings to date, driven by strong growth for Warcraft® and the reinvigoration of Overwatch® and Diablo®. At King, Candy Crush® once again delivered a record performance. Activision Blizzard net bookings on the mobile platform grew mid-teens year-over-year while overall in-game net bookings grew 46% year-over-year. + +Our robust product pipeline, live game opportunity, and ongoing focus on operational discipline create a foundation for strong financial performance in 2023. While we remain cognizant of risks, including those related to our execution, economic conditions, the labor market, and exchange rates, we expect at least high-teens year-over-year growth for GAAP revenue, and at least high-single digit year-over-year growth in net bookings and total segment operating income for 2023. We also expect interest income to be significantly higher year-over-year in 2023 given the current rate environment. + +For the first quarter, we expect at least high-teens year-over-year growth for GAAP revenue, at least mid-teens year-over-year growth for net bookings, and at least high-single digit year-over-year growth for total segment operating income. The first quarter will see significant development and marketing investment in live operations and future releases, including the June launch of Diablo IV. + +In the fourth quarter we continued to invest in growing our development teams and in our goal of being the model workplace in our industry. Our game development teams grew over 25% year-over-year in 2022. We shared our latest representation update in the quarter, which showed that we increased our representation for those who identify as women or non-binary to 26% globally, as of the end of November, versus 24% a year earlier. Representation for underrepresented ethnic groups increased to 38% from 36% in the US over the same period. + +Activision + +Blizzard + +King + +Balance Sheet + +Service Periods for Games + +As we have continued to focus on delivering increased content to our players and to deliver such content more frequently through in-game updates, certain of our games are seeing player engagement and monetization over longer periods of time. This has resulted in certain expenses, including capitalized software cost amortization, and GAAP revenues being recognized over longer periods of time than in prior years. Additionally, these elongations have resulted in an increased portion of our capitalized software costs being classified as non-current on our consolidated balance sheet. For further details and discussion, refer to our upcoming Annual Report on Form 10-K for the year ended December 31, 2022. + +Activision Blizzard Disclosure Channels to Disseminate Information + +Activision Blizzard, Inc. (“Activision Blizzard”) discloses information to the public concerning Activision Blizzard, Activision Blizzard’s products, content and services, and other items through a variety of disclosure channels in order to achieve broad, non-exclusionary distribution of information to the public. Some of the information distributed through these disclosure channels may be considered material information. Investors and others are encouraged to review the information we make public in the locations below.2 This list may be updated from time to time. + +About Activision Blizzard + +Our mission, to connect and engage the world through epic entertainment, has never been more important. Through communities rooted in our video games we enable hundreds of millions of people to experience joy, thrill and achievement. We enable social connections through the lens of fun, and we foster purpose and a sense of accomplishment through healthy competition. Like sport, but with greater accessibility, our players can find purpose and meaning through competitive gaming. Video games, unlike any other social or entertainment media, have the ability to break down the barriers that can inhibit tolerance and understanding. Celebrating differences is at the core of our culture and ensures we can create games for players of diverse backgrounds in the 190 countries our games are played. + +As a member of the Fortune 500 and as a component company of the S&P 500, we have an extraordinary track record of delivering superior shareholder returns for over 30 years. Our sustained success has enabled the company to support corporate social responsibility initiatives that are directly tied to our games. As an example, our Call of Duty Endowment has helped find employment for over 100,000 veterans. + +Learn more information about Activision Blizzard and how we connect and engage the world through epic entertainment on the company's website, www.activisionblizzard.com. + +1 Based on data.ai Intelligence + +2 These corporate websites and social media channels, and the contents thereof, are not incorporated by reference into this press release nor deemed filed with the U.S. Securities and Exchange Commission. + +A Net effect of accounting treatment from revenue deferrals on certain of our online-enabled products. Since certain of our games are hosted online or include significant online functionality that represents a separate performance obligation, we defer the transaction price allocable to the online functionality from the sale of these games and then recognize the attributable revenues over the relevant estimated service periods, which are generally less than a year. The related cost of revenues is deferred and recognized as an expense as the related revenues are recognized. Impact from changes in deferrals refers to the net effect from revenue deferrals accounting treatment for the purposes of revenues, along with, for the purposes of EPS, the related cost of revenues deferrals treatment and the related tax impacts. Internally, management excludes the impact of this change in deferred revenues and related cost of revenues when evaluating the company’s operating performance, when planning, forecasting and analyzing future periods, and when assessing the performance of its management team. Management believes this is appropriate because doing so enables an analysis of performance based on the timing of actual transactions with our customers. In addition, management believes excluding the change in deferred revenues and the related cost of revenues provides a much more timely indication of trends in our operating results. + +In the fourth quarter of 2022, the Company completed its annual assessment of the estimated service periods for players of our games. We have noted that players who purchase in-game content are playing certain of our titles, notably those in our Call of Duty and World of Warcraft offerings, for longer periods of time than in prior years as they engage with services we provide that are designed to enhance and extend gameplay. As such, we have concluded that the estimated service period for in-game revenues from such games has lengthened by approximately 3 months. + +Based on the carrying amount of deferred revenue and deferred cost of revenue as of September 30, 2022, the change resulted in a decrease in net revenues recognized of $103 million, a decrease in cost of revenues recognized of $9 million, and a decrease in earnings per diluted share of $0.10 during the three months ended December 31, 2022. Such amounts will now be recognized during the year ended December 31, 2023. The change in the estimated service period had no impact on net bookings, segment net revenues, or net cash provided by operating activities. + +B Net bookings is an operating metric that is defined as the net amount of products and services sold digitally or sold-in physically in the period, and includes license fees, merchandise, and publisher incentives, among others, and is equal to net revenues excluding the impact from deferrals. + +C In-game net bookings primarily includes the net amount of downloadable content and microtransactions sold during the period, and is equal to in-game net revenues excluding the impact from deferrals. + +D Monthly Active User (“MAU”) Definition: We monitor MAUs as a key measure of the overall size of our user base. MAUs are the number of individuals who accessed a particular game in a given month. We calculate average MAUs in a period by adding the total number of MAUs in each of the months in a given period and dividing that total by the number of months in the period. An individual who accesses two of our games would be counted as two users. In addition, due to technical limitations, for Activision and King, an individual who accesses the same game on two platforms or devices in the relevant period would be counted as two users. For Blizzard, an individual who accesses the same game on two platforms or devices in the relevant period would generally be counted as a single user. In certain instances, we rely on third parties to publish our games. In these instances, MAU data is based on information provided to us by those third parties, or, if final data is not available, reasonable estimates of MAUs for these third-party published games. + +E Year-over-year growth on a constant currency basis is calculated by translating current quarter local currency amounts to U.S. dollars based on prior period exchange rates. These amounts are compared to the prior period to derive constant-currency year-over-year performance. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of currency rate fluctuations. + +F Net cash is defined as cash and cash equivalents ($7.1B as of December 31, 2022) and short-term investments ($5.0B as of December 31, 2022) minus gross debt ($3.7B as of December 31, 2022). + +Non-GAAP Financial Measures: As a supplement to our financial measures presented in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), Activision Blizzard presents certain non-GAAP measures of financial performance. These non-GAAP financial measures are not intended to be considered in isolation from, as a substitute for, or as more important than, the financial information prepared and presented in accordance with GAAP. In addition, these non-GAAP measures have limitations in that they do not reflect all of the items associated with the company’s results of operations as determined in accordance with GAAP. + +Activision Blizzard provides net income (loss), earnings (loss) per share, and operating margin data and guidance both including (in accordance with GAAP) and excluding (non-GAAP) certain items. When relevant, the company also provides constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of currency rate fluctuations. In addition, Activision Blizzard provides EBITDA (defined as GAAP net income (loss) before interest (income) expense, income taxes, depreciation, and amortization) and adjusted EBITDA (defined as non-GAAP operating margin (see non-GAAP financial measure below) before depreciation). The non-GAAP financial measures exclude the following items, as applicable in any given reporting period and our outlook: + +In the future, Activision Blizzard may also consider whether other items should also be excluded in calculating the non-GAAP financial measures used by the company. Management believes that the presentation of these non-GAAP financial measures provides investors with additional useful information to measure Activision Blizzard’s financial and operating performance. In particular, the measures facilitate comparison of operating performance between periods and help investors to better understand the operating results of Activision Blizzard by excluding certain items that may not be indicative of the company’s core business, operating results, or future outlook. Additionally, we consider quantitative and qualitative factors in assessing whether to adjust for the impact of items that may be significant or that could affect an understanding of our ongoing financial and business performance or trends. Internally, management uses these non-GAAP financial measures, along with others, in assessing the company’s operating results, and measuring compliance with the requirements of the company’s debt financing agreements, as well as in planning and forecasting. + +Activision Blizzard’s non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles, and the terms non-GAAP net income, non-GAAP earnings per share, non-GAAP operating margin, and non-GAAP or adjusted EBITDA do not have a standardized meaning. Therefore, other companies may use the same or similarly named measures, but exclude different items, which may not provide investors a comparable view of Activision Blizzard’s performance in relation to other companies. + +Management compensates for the limitations resulting from the exclusion of these items by considering the impact of the items separately and by considering Activision Blizzard’s GAAP, as well as non-GAAP, results and outlook, and by presenting the most comparable GAAP measures directly ahead of non-GAAP measures, and by providing a reconciliation that indicates and describes the adjustments made. + +Cautionary Note Regarding Forward-looking Statements: The statements contained herein that are not historical facts are forward-looking statements including, but not limited to statements about: (1) projections of revenues, expenses, income or loss, earnings or loss per share, cash flow, or other financial items; (2) statements of our plans and objectives, including those related to releases of products or services; (3) statements of future financial or operating performance, including the impact of tax items thereon; (4) statements regarding the proposed transaction between Activision Blizzard and Microsoft (such transaction, “the proposed transaction with Microsoft”), including any statements regarding the expected timetable for completing the proposed transaction with Microsoft, the ability to complete the proposed transaction with Microsoft, and the expected benefits of the proposed transaction with Microsoft; and (5) statements of assumptions underlying such statements. Activision Blizzard, Inc. generally uses words such as “outlook,” “forecast,” “will,” “could,” “should,” “would,” “to be,” “plan,” “aims,” “believes,” “may,” “might,” “expects,” “intends,” “seeks,” “anticipates,” “estimate,” “future,” “positioned,” “potential,” “project,” “remain,” “scheduled,” “set to,” “subject to,” “upcoming,” and the negative version of these words and other similar words and expressions to help identify forward-looking statements. Forward-looking statements are subject to business and economic risks, reflect management’s current expectations, estimates, and projections about our business, and are inherently uncertain and difficult to predict. + +We caution that a number of important factors, many of which are beyond our control, could cause our actual future results and other future circumstances to differ materially from those expressed in any forward-looking statements. Such factors include, but are not limited to: the risk that the proposed transaction with Microsoft may not be completed in a timely manner or at all, which may adversely affect our business and the price of our common stock; the failure to satisfy the conditions to the consummation of the proposed transaction with Microsoft, including the receipt of certain governmental and regulatory approvals; the occurrence of any event, change, or other circumstance that could give rise to the termination of the Agreement and Plan of Merger, dated as of January 18, 2022, by and among Activision Blizzard, Microsoft, and Anchorage Merger Sub Inc., a wholly owned subsidiary of Microsoft (the “Merger Agreement”); the effect of the announcement or pendency of the proposed transaction with Microsoft on our business relationships, operating results, and business generally; risks that the proposed transaction with Microsoft disrupts our current plans and operations and potential difficulties in employee retention as a result of the proposed transaction with Microsoft; risks related to diverting management’s attention from ongoing business operations; the outcome of any legal proceedings that have been or may be instituted against us related to the Merger Agreement or the transactions contemplated thereby; restrictions during the pendency of the proposed transaction with Microsoft that may impact our ability to pursue certain business opportunities or strategic transactions; the global impact of the ongoing COVID-19 pandemic and other macroeconomic factors (including, without limitation, the potential for significant short- and long-term global unemployment and economic weakness and a resulting impact on global discretionary spending; potential strain on the retailers, distributors, and manufacturers who sell our physical products to customers and the platform providers on whose networks and consoles certain of our games are available; effects on our ability to release our content in a timely manner and with effective quality control; effects on our ability to prevent cyber-security incidents while our workforce is dispersed; effects on the operations of our professional esports leagues; the impact of rising interest rates as a result of large-scale intervention by the Federal Reserve and other central banks around the world and other economic factors; increased demand for our games due to stay-at-home orders and curtailment of other forms of entertainment, which may not be sustained and may fluctuate as stay-at-home orders are reduced, lifted, and/or reinstated; macroeconomic impacts arising from the long duration of the COVID-19 pandemic, including labor shortages and supply chain disruptions; and volatility in foreign exchange rates); our ability to consistently deliver popular, high-quality titles in a timely manner, which has been made more difficult as a result of the COVID-19 pandemic; our ability to satisfy the expectations of consumers with respect to our brands, games, services, and/or business practices; negative impacts on our business from concerns regarding our workplace; our ability to attract, retain, and motivate skilled personnel; competition; concentration of revenue among a small number of franchises; negative impacts from unionization or attempts to unionize by our workforce; rapid changes in technology and industry standards; increasing importance of revenues derived from digital distribution channels; our ability to manage growth in the scope and complexity of our business; substantial influence of third-party platform providers over our products and costs; success and availability of video game consoles manufactured by third parties, including our ability to predict the consoles that will be most successful in the marketplace and develop commercially-successful products for those consoles; risks associated with the free-to-play business model, including our dependence on a relatively small number of consumers for a significant portion of revenues and profits from any given game; risks and uncertainties of conducting business outside the United States (the “U.S.”), including the need for regulatory approval to operate, impacts on our business arising from the current conflict between Russia and Ukraine, the relatively weaker protection for our intellectual property rights, and the impact of cultural differences on consumer preferences; risks associated with the retail sales business model; difficulties in integrating acquired businesses or otherwise realizing the anticipated benefits of strategic transactions; the seasonality in the sale of our products; fluctuation in our recurring business; risks relating to behavior of our distributors, retailers, development, and licensing partners, or other affiliated third parties that may harm our brands or business operations; our reliance on tools and technologies owned by third parties; risks associated with our use of open source software; risks associated with undisclosed content or features that may result in consumers’ refusal to buy or retailers’ refusal to sell our products; risks associated with objectionable consumer- or other third-party-created content; outages, disruptions or degradations in our services, products, and/or technological infrastructure; data breaches, fraudulent activity, and other cybersecurity risks; significant disruption during our live events; risks related to the impacts of catastrophic events; climate change; provisions in our corporate documents that may make it more difficult for any person to acquire control of our company; ongoing legal proceedings related to workplace concerns and otherwise, including the impact of the complaint filed in 2021 by the California Civil Rights Department (formerly known as the Department of Fair Employment and Housing) alleging violations of the California Fair Employment and Housing Act and the California Equal Pay Act and separate investigations and complaints by other parties and regulators related to certain employment practices and related disclosures; successful implementation of the requirements of the court-approved consent decree with the Equal Employment Opportunity Commission; intellectual property claims; increasing regulation in key territories; regulation relating to the Internet, including potential harm from laws impacting “net neutrality;” regulation concerning data privacy, including China’s Personal Information Protection Law; scrutiny regarding the appropriateness of our games’ content, including ratings assigned by third parties; changes in tax rates and/or tax laws or exposure to additional tax liabilities; fluctuations in currency exchange rates; impacts of changes in financial accounting standards; insolvency or business failure of any of our business partners, which has been magnified as a result of the COVID-19 pandemic; risks associated with our reliance on consumer discretionary spending; risks associated with increased inflation on our costs and the impacts on consumer discretionary spending; and the other factors included in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the U.S. Securities and Exchange Commission. + +The forward-looking statements contained herein are based on information available to Activision Blizzard, Inc. as of the date of this filing, and we assume no obligation to update any such forward-looking statements. Actual events or results may differ from those expressed in forward-looking statements. As such, you should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statements contained herein primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, operating results, prospects, strategy, and financial needs. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and may cause actual results to differ materially from current expectations. + +ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES + +CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS + +(Unaudited) + +(Amounts in millions) + +  + +Three Months Ended December 31, + +  + +Year Ended December 31, + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +Net revenues + +  + +  + +  + +  + +  + +  + +  + +Product sales + +$ + +721 + +  + +  + +$ + +645 + +  + +$ + +1,642 + +  + +  + +$ + +2,311 + +  + +In-game, subscription, and other revenues + +  + +1,613 + +  + +  + +  + +1,518 + +  + +  + +5,886 + +  + +  + +  + +6,492 + +  + +Total net revenues + +  + +2,334 + +  + +  + +  + +2,163 + +  + +  + +7,528 + +  + +  + +  + +8,803 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Costs and expenses + +  + +  + +  + +  + +  + +  + +  + +Cost of revenues—product sales: + +  + +  + +  + +  + +  + +  + +  + +Product costs + +  + +240 + +  + +  + +  + +274 + +  + +  + +519 + +  + +  + +  + +649 + +  + +Software royalties and amortization + +  + +78 + +  + +  + +  + +73 + +  + +  + +231 + +  + +  + +  + +346 + +  + +Cost of revenues—in-game, subscription, and other: + +  + +  + +  + +  + +  + +  + +  + +Game operations and distribution costs + +  + +376 + +  + +  + +  + +290 + +  + +  + +1,324 + +  + +  + +  + +1,215 + +  + +Software royalties and amortization + +  + +62 + +  + +  + +  + +20 + +  + +  + +148 + +  + +  + +  + +107 + +  + +Product development + +  + +486 + +  + +  + +  + +321 + +  + +  + +1,421 + +  + +  + +  + +1,337 + +  + +Sales and marketing + +  + +415 + +  + +  + +  + +299 + +  + +  + +1,217 + +  + +  + +  + +1,025 + +  + +General and administrative 1 + +  + +309 + +  + +  + +  + +174 + +  + +  + +1,001 + +  + +  + +  + +788 + +  + +Restructuring and related costs + +  + +— + +  + +  + +  + +30 + +  + +  + +(3 + +) + +  + +  + +77 + +  + +Total costs and expenses + +  + +1,966 + +  + +  + +  + +1,481 + +  + +  + +5,858 + +  + +  + +  + +5,544 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Operating income + +  + +368 + +  + +  + +  + +682 + +  + +  + +1,670 + +  + +  + +  + +3,259 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Interest expense from debt + +  + +27 + +  + +  + +  + +27 + +  + +  + +108 + +  + +  + +  + +108 + +  + +Other (income) expense, net + +  + +(117 + +) + +  + +  + +18 + +  + +  + +(182 + +) + +  + +  + +(13 + +) + +Income before income tax expense + +  + +458 + +  + +  + +  + +637 + +  + +  + +1,744 + +  + +  + +  + +3,164 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Income tax expense + +  + +55 + +  + +  + +  + +73 + +  + +  + +231 + +  + +  + +  + +465 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Net income + +$ + +403 + +  + +  + +$ + +564 + +  + +$ + +1,513 + +  + +  + +$ + +2,699 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Basic earnings per common share + +$ + +0.52 + +  + +  + +$ + +0.72 + +  + +$ + +1.94 + +  + +  + +$ + +3.47 + +  + +Weighted average common shares outstanding + +  + +783 + +  + +  + +  + +779 + +  + +  + +782 + +  + +  + +  + +777 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Diluted earnings per common share + +$ + +0.51 + +  + +  + +$ + +0.72 + +  + +$ + +1.92 + +  + +  + +$ + +3.44 + +  + +Weighted average common shares outstanding assuming dilution + +  + +791 + +  + +  + +  + +782 + +  + +  + +789 + +  + +  + +  + +784 + +  + +1 + +Included in the three months and year ended December 31, 2022 is $35 million for settlement of the SEC matter announced February 3, 2023. + +ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES + +CONDENSED CONSOLIDATED BALANCE SHEETS + +(Unaudited) + +(Amounts in millions) + +  + +December 31, 2022 + +  + +December 31, 2021 + +Assets + +  + +  + +  + +Current assets + +  + +  + +  + +Cash and cash equivalents + +$ + +7,060 + +  + +  + +$ + +10,423 + +  + +Held-to-maturity investments + +  + +4,932 + +  + +  + +  + +— + +  + +Accounts receivable, net + +  + +1,204 + +  + +  + +  + +972 + +  + +Software development + +  + +640 + +  + +  + +  + +449 + +  + +Other current assets + +  + +633 + +  + +  + +  + +712 + +  + +Total current assets + +  + +14,469 + +  + +  + +  + +12,556 + +  + +Software development + +  + +641 + +  + +  + +  + +211 + +  + +Property and equipment, net + +  + +193 + +  + +  + +  + +169 + +  + +Deferred income taxes, net + +  + +1,201 + +  + +  + +  + +1,377 + +  + +Other assets + +  + +508 + +  + +  + +  + +497 + +  + +Intangible assets, net + +  + +442 + +  + +  + +  + +447 + +  + +Goodwill + +  + +9,929 + +  + +  + +  + +9,799 + +  + +Total assets + +$ + +27,383 + +  + +  + +$ + +25,056 + +  + +  + +  + +  + +  + +Liabilities and Shareholders' Equity + +  + +  + +  + +Current liabilities + +  + +  + +  + +Accounts payable + +$ + +324 + +  + +  + +$ + +285 + +  + +Deferred revenues + +  + +2,088 + +  + +  + +  + +1,118 + +  + +Accrued expenses and other liabilities + +  + +1,143 + +  + +  + +  + +1,008 + +  + +Total current liabilities + +  + +3,555 + +  + +  + +  + +2,411 + +  + +Long-term debt, net + +  + +3,611 + +  + +  + +  + +3,608 + +  + +Deferred income taxes, net + +  + +158 + +  + +  + +  + +506 + +  + +Other liabilities + +  + +816 + +  + +  + +  + +932 + +  + +Total liabilities + +  + +8,140 + +  + +  + +  + +7,457 + +  + +  + +  + +  + +  + +Shareholders' equity + +  + +  + +  + +Common stock + +  + +— + +  + +  + +  + +— + +  + +Additional paid-in capital + +  + +12,260 + +  + +  + +  + +11,715 + +  + +Treasury stock + +  + +(5,563 + +) + +  + +  + +(5,563 + +) + +Retained earnings + +  + +13,171 + +  + +  + +  + +12,025 + +  + +Accumulated other comprehensive loss + +  + +(625 + +) + +  + +  + +(578 + +) + +Total shareholders’ equity + +  + +19,243 + +  + +  + +  + +17,599 + +  + +Total liabilities and shareholders’ equity + +$ + +27,383 + +  + +  + +$ + +25,056 + +  + +ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES + +CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS + +(Unaudited) + +(Amounts in millions) + +  + +Year Ended December 31, + +  + +2022 + +  + +2021 + +Cash flows from operating activities: + +  + +  + +  + +Net income + +$ + +1,513 + +  + +  + +$ + +2,699 + +  + +Adjustments to reconcile net income to net cash provided by operating activities: + +  + +  + +  + +Deferred income taxes + +  + +(164 + +) + +  + +  + +7 + +  + +Non-cash operating lease cost + +  + +77 + +  + +  + +  + +65 + +  + +Depreciation and amortization + +  + +106 + +  + +  + +  + +116 + +  + +Amortization of capitalized software development costs and intellectual property licenses1 + +  + +213 + +  + +  + +  + +324 + +  + +Share-based compensation expense2 + +  + +462 + +  + +  + +  + +508 + +  + +Other + +  + +(31 + +) + +  + +  + +(26 + +) + +Changes in operating assets and liabilities, net of effect of business acquisitions: + +  + +  + +  + +Accounts receivable, net + +  + +(231 + +) + +  + +  + +71 + +  + +Software development and intellectual property licenses + +  + +(693 + +) + +  + +  + +(426 + +) + +Other assets + +  + +(140 + +) + +  + +  + +(114 + +) + +Deferred revenues + +  + +987 + +  + +  + +  + +(537 + +) + +Accounts payable + +  + +37 + +  + +  + +  + +(7 + +) + +Accrued expenses and other liabilities + +  + +84 + +  + +  + +  + +(266 + +) + +Net cash provided by operating activities + +  + +2,220 + +  + +  + +  + +2,414 + +  + +  + +  + +  + +  + +Cash flows from investing activities: + +  + +  + +  + +Proceeds from maturities of available-for-sale investments + +  + +213 + +  + +  + +  + +214 + +  + +Proceeds from sale of available-for-sale investments + +  + +26 + +  + +  + +  + +66 + +  + +Purchases of available-for-sale investments + +  + +(109 + +) + +  + +  + +(248 + +) + +Purchases of held-to-maturity investments + +  + +(4,899 + +) + +  + +  + +— + +  + +Acquisition of business, net of cash acquired + +  + +(135 + +) + +  + +  + +— + +  + +Capital expenditures + +  + +(91 + +) + +  + +  + +(80 + +) + +Other investing activities + +  + +1 + +  + +  + +  + +(11 + +) + +Net cash used in investing activities + +  + +(4,994 + +) + +  + +  + +(59 + +) + +  + +  + +  + +  + +Cash flows from financing activities: + +  + +  + +  + +Proceeds from issuance of common stock to employees + +  + +47 + +  + +  + +  + +90 + +  + +Tax payment related to net share settlements on restricted stock units + +  + +(214 + +) + +  + +  + +(246 + +) + +Dividends paid + +  + +(367 + +) + +  + +  + +(365 + +) + +Net cash used in financing activities + +  + +(534 + +) + +  + +  + +(521 + +) + +  + +  + +  + +  + +Effect of foreign exchange rate changes on cash and cash equivalents + +  + +(44 + +) + +  + +  + +(48 + +) + +  + +  + +  + +  + +Net (decrease) increase in cash and cash equivalents and restricted cash + +  + +(3,352 + +) + +  + +  + +1,786 + +  + +  + +  + +  + +  + +Cash and cash equivalents and restricted cash at beginning of period + +  + +10,438 + +  + +  + +  + +8,652 + +  + +  + +  + +  + +  + +Cash and cash equivalents and restricted cash at end of period + +$ + +7,086 + +  + +  + +$ + +10,438 + +  + +1 + +Excludes deferral and amortization of share-based compensation expense. + +2 + +Includes the net effects of capitalization, deferral, and amortization of share-based compensation expense. + +ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES + +SUPPLEMENTAL CASH FLOW INFORMATION + +(Amounts in millions) + +  + +  + +Three Months Ended + +  + +  + +  + +  + +March 31, +2021 + +  + +June 30, +2021 + +  + +September 30, +2021 + +  + +December 31, +2021 + +  + +March 31, +2022 + +  + +June 30, +2022 + +  + +September 30, +2022 + +  + +December 31, +2022 + +  + +Year over Year +% Increase (Decrease) + +Cash Flow Data + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Operating Cash Flow + +  + +$ + +844 + +  + +$ + +388 + +  + +$ + +521 + +  + +$ + +661 + +  + +$ + +642 + +  + +$ + +198 + +  + +$ + +257 + +  + +$ + +1,123 + +  + +70 + +% + +Capital Expenditures + +  + +  + +22 + +  + +  + +14 + +  + +  + +23 + +  + +  + +21 + +  + +  + +15 + +  + +  + +37 + +  + +  + +15 + +  + +  + +24 + +  + +14 + +  + +Non-GAAP Free Cash Flow1 + +  + +$ + +822 + +  + +$ + +374 + +  + +$ + +498 + +  + +$ + +640 + +  + +$ + +627 + +  + +$ + +161 + +  + +$ + +242 + +  + +$ + +1,099 + +  + +72 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Operating Cash Flow - TTM2 + +  + +$ + +2,948 + +  + +$ + +2,568 + +  + +$ + +2,893 + +  + +$ + +2,414 + +  + +$ + +2,212 + +  + +$ + +2,022 + +  + +$ + +1,758 + +  + +$ + +2,220 + +  + +(8 + +) + +Capital Expenditures - TTM2 + +  + +  + +81 + +  + +  + +82 + +  + +  + +81 + +  + +  + +80 + +  + +  + +73 + +  + +  + +96 + +  + +  + +88 + +  + +  + +91 + +  + +14 + +  + +Non-GAAP Free Cash Flow1 - TTM2 + +  + +$ + +2,867 + +  + +$ + +2,486 + +  + +$ + +2,812 + +  + +$ + +2,334 + +  + +$ + +2,139 + +  + +$ + +1,926 + +  + +$ + +1,670 + +  + +$ + +2,129 + +  + +(9 + +) % + +1 + +Non-GAAP free cash flow represents operating cash flow minus capital expenditures. + +2 + +TTM represents trailing twelve months. Operating Cash Flow for three months ended June 30, 2020, three months ended September 30, 2020, and three months ended December 31, 2020, were $768 million, $196 million, and $1,140 million, respectively. Capital Expenditures for the three months ended June 30, 2020, three months ended September 30, 2020, and three months ended December 31, 2020, were $13 million, $24 million, and $22 million, respectively. + +ACTIVISION BLIZZARD, INC. 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Tax impact on non-GAAP pre-tax income is calculated under the same accounting principles applied to the GAAP pre-tax income under ASC 740, which employs an annual effective tax rate method to the results. + +The GAAP and non-GAAP earnings per share information is presented as calculated. The sum of these measures, as presented, may differ due to the impact of rounding. + +ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES + +OPERATING SEGMENTS INFORMATION + +(Amounts in millions) + +Three Months Ended + +  + +December 31, 2022 + +  + +$ Increase / (Decrease) + +  + +  + +Activision + +  + +Blizzard + +  + +King + +  + +Total + +  + +Activision + +  + +Blizzard + +  + +King + +  + +Total + +Segment Net Revenues + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Net revenues from external customers + +  + +$ + +1,851 + +  + +$ + +747 + +  + +$ + +727 + +  + +$ + +3,325 + +  + +  + +$ + +694 + +  + +  + +$ + +360 + +  + +  + +$ + +43 + +  + +  + +$ + +1,097 + +  + +Intersegment net revenues1 + +  + +  + +— + +  + +  + +47 + +  + +  + +— + +  + +  + +47 + +  + +  + +  + +— + +  + +  + +  + +15 + +  + +  + +  + +— + +  + +  + +  + +15 + +  + +Segment net revenues + +  + +$ + +1,851 + +  + +$ + +794 + +  + +$ + +727 + +  + +$ + +3,372 + +  + +  + +$ + +694 + +  + +  + +$ + +375 + +  + +  + +$ + +43 + +  + +  + +$ + +1,112 + +  + +  + +  + +  + +  + +  + +  + +  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+  + +  + +  + +  + +  + +Segment operating income + +  + +$ + +1,667 + +  + +$ + +698 + +  + +$ + +1,140 + +  + +$ + +3,505 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Operating Margin + +  + +  + +  + +  + +  + +  + +  + +  + +44.5 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +1 + +Intersegment revenues reflect licensing and service fees charged between segments. + +Our operating segments are consistent with the manner in which our operations are reviewed and managed by our Chief Executive Officer, who is our chief operating decision maker (“CODM”). The CODM reviews segment performance exclusive of: the impact of the change in deferred revenues and related cost of revenues with respect to certain of our online-enabled games; share-based compensation expense (including liability awards accounted for under ASC 718); amortization of intangible assets as a result of purchase price accounting; fees and other expenses (including legal fees, costs, expenses and accruals) related to acquisitions, associated integration activities, and financings; certain restructuring and related costs; and other non-cash charges. See the following page for the reconciliation tables of segment revenues and operating income to consolidated net revenues and consolidated income before income tax expense. + +Our operating segments are also consistent with our internal organization structure, the way we assess operating performance and allocate resources, and the availability of separate financial information. We do not aggregate operating segments. + +In 2021, the Company reviewed its overall compensation structure and philosophy and began implementing changes to its compensation payments for 2021, primarily to enhance equity ownership for employees and bring our employee equity compensation more in line with current industry practice. As an aspect of this change, the Company determined to settle amounts not yet paid as of December 31, 2021 under its annual performance plans in stock as opposed to cash and further to provide such incentives at no less than target performance without regard to whether target performance was achieved, resulting in a year-end share-based compensation liability of $194 million. The changes in Q4 2021 resulted in $160 million of expense related to achievement against 2021 performance targets that would have otherwise been included in our segment operating income to instead be excluded from our 2021 segment operating income as it is now part of share-based compensation, accounted for as a liability under ASC 718. The changes increased our Activision, Blizzard, King and non-reportable segment operating income by $43 million, $25 million, $65 million, and $27 million, respectively, for the three months and year ended December 31, 2021. + +Similarly, in 2022, the Company is expecting to pay out certain of its annual performance plans in stock as opposed to cash. The share-based compensation expense associated with the bonus programs for Activision, Blizzard, King and non-reportable segments was $19 million, $32 million, $4 million, and $3 million, respectively, for the three months ended December 31, 2022. The share-based compensation expense associated with the bonus programs for Activision, Blizzard, King and non-reportable segments was $37 million, $34 million, $16 million, and $24 million, respectively, for the year ended December 31, 2022. + +ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES + +OPERATING SEGMENTS INFORMATION + +(Amounts in millions) + +  + +  + +Three Months Ended December 31, + +  + +Year Ended December 31, + +  + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +Reconciliation to consolidated net revenues: + +  + +  + +  + +  + +  + +  + +  + +  + +Segment net revenues + +  + +$ + +3,372 + +  + +  + +$ + +2,260 + +  + +  + +$ + +8,072 + +  + +  + +$ + +7,885 + +  + +Revenues from non-reportable segments1 + +  + +  + +241 + +  + +  + +  + +259 + +  + +  + +  + +518 + +  + +  + +  + +563 + +  + +Net effect from recognition (deferral) of deferred net revenues2 + +  + +  + +(1,232 + +) + +  + +  + +(324 + +) + +  + +  + +(986 + +) + +  + +  + +449 + +  + +Elimination of intersegment revenues3 + +  + +  + +(47 + +) + +  + +  + +(32 + +) + +  + +  + +(76 + +) + +  + +  + +(94 + +) + +Consolidated net revenues + +  + +$ + +2,334 + +  + +  + +$ + +2,163 + +  + +  + +$ + +7,528 + +  + +  + +$ + +8,803 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Reconciliation to consolidated income before income tax expense: + +  + +  + +  + +  + +  + +  + +  + +  + +Segment operating income + +  + +$ + +1,634 + +  + +  + +$ + +1,164 + +  + +  + +$ + +3,063 + +  + +  + +$ + +3,505 + +  + +Operating income (loss) from non-reportable segments1 + +  + +  + +(6 + +) + +  + +  + +14 + +  + +  + +  + +22 + +  + +  + +  + +2 + +  + +Net effect from recognition (deferral) of deferred net revenues and related cost of revenues2 + +  + +  + +(1,059 + +) + +  + +  + +(215 + +) + +  + +  + +(848 + +) + +  + +  + +347 + +  + +Share-based compensation expense4 + +  + +  + +(161 + +) + +  + +  + +(249 + +) + +  + +  + +(462 + +) + +  + +  + +(508 + +) + +Amortization of intangible assets + +  + +  + +(3 + +) + +  + +  + +(2 + +) + +  + +  + +(13 + +) + +  + +  + +(10 + +) + +Restructuring and related costs5 + +  + +  + +— + +  + +  + +  + +(30 + +) + +  + +  + +3 + +  + +  + +  + +(77 + +) + +Partnership wind down and related costs6 + +  + +  + +(27 + +) + +  + +  + +— + +  + +  + +  + +(27 + +) + +  + +  + +— + +  + +Merger and acquisition-related fees and other expenses7 + +  + +  + +(10 + +) + +  + +  + +— + +  + +  + +  + +(68 + +) + +  + +  + +— + +  + +Consolidated operating income + +  + +  + +368 + +  + +  + +  + +682 + +  + +  + +  + +1,670 + +  + +  + +  + +3,259 + +  + +Interest expense from debt + +  + +  + +27 + +  + +  + +  + +27 + +  + +  + +  + +108 + +  + +  + +  + +108 + +  + +Other (income) expense, net + +  + +  + +(117 + +) + +  + +  + +18 + +  + +  + +  + +(182 + +) + +  + +  + +(13 + +) + +Consolidated income before income tax expense + +  + +$ + +458 + +  + +  + +$ + +637 + +  + +  + +$ + +1,744 + +  + +  + +$ + +3,164 + +  + +1 + +Includes other income and expenses outside of our reportable segments, including our distribution business and unallocated corporate income and expenses. + +2 + +Reflects the net effect from (deferral) of revenues and recognition of deferred revenues, along with related cost of revenues, on certain of our online-enabled products. + +3 + +Intersegment revenues reflect licensing and service fees charged between segments. + +4 + +Reflects expenses related to share-based compensation. + +5 + +Reflects restructuring initiatives, primarily severance and other restructuring-related costs. + +6 + +Reflects expenses related to the wind down of our partnership with NetEase in China in regards to licenses covering the publication of several Blizzard titles which expired in January 2023. + +7 + +Reflects fees and other expenses related to our proposed transaction with Microsoft, primarily legal and advisory fees. + +ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES + +NET REVENUES BY DISTRIBUTION CHANNEL + +(Amounts in millions) + +  + +Three Months Ended + +  + +December 31, 2022 + +  + +December 31, 2021 + +  + +$ Increase +(Decrease) + +  + +% Increase +(Decrease) + +  + +Amount + +  + +% of Total1 + +  + +Amount + +  + +% of Total1 + +  + +  + +Net Revenues by Distribution Channel + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Digital online channels2 + +$ + +1,965 + +  + +84 + +% + +  + +$ + +1,780 + +  + +  + +82 + +% + +  + +$ + +185 + +  + +  + +10 + +% + +Retail channels + +  + +114 + +  + +5 + +  + +  + +  + +125 + +  + +  + +6 + +  + +  + +  + +(11 + +) + +  + +(9 + +) + +Other3 + +  + +255 + +  + +11 + +  + +  + +  + +258 + +  + +  + +12 + +  + +  + +  + +(3 + +) + +  + +(1 + +) + +Total consolidated net revenues + +$ + +2,334 + +  + +100 + +% + +  + +$ + +2,163 + +  + +  + +100 + +% + +  + +$ + +171 + +  + +  + +8 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Change in deferred revenues4 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Digital online channels2 + +$ + +1,087 + +  + +  + +  + +$ + +169 + +  + +  + +  + +  + +  + +  + +  + +Retail channels + +  + +137 + +  + +  + +  + +  + +151 + +  + +  + +  + +  + +  + +  + +  + +Other3 + +  + +8 + +  + +  + +  + +  + +4 + +  + +  + +  + +  + +  + +  + +  + +Total changes in deferred revenues + +$ + +1,232 + +  + +  + +  + +$ + +324 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Year Ended + +  + +December 31, 2022 + +  + +December 31, 2021 + +  + +$ Increase +(Decrease) + +  + +% Increase +(Decrease) + +  + +Amount + +  + +% of Total1 + +  + +Amount + +  + +% of Total1 + +  + +  + +Net Revenues by Distribution Channel + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Digital online channels2 + +$ + +6,633 + +  + +88 + +% + +  + +$ + +7,663 + +  + +  + +87 + +% + +  + +$ + +(1,030 + +) + +  + +(13 + +) % + +Retail channels + +  + +290 + +  + +4 + +  + +  + +  + +479 + +  + +  + +5 + +  + +  + +  + +(189 + +) + +  + +(39 + +) + +Other3 + +  + +605 + +  + +8 + +  + +  + +  + +661 + +  + +  + +8 + +  + +  + +  + +(56 + +) + +  + +(8 + +) + +Total consolidated net revenues + +$ + +7,528 + +  + +100 + +% + +  + +$ + +8,803 + +  + +  + +100 + +% + +  + +$ + +(1,275 + +) + +  + +(14 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Change in deferred revenues4 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Digital online channels2 + +$ + +970 + +  + +  + +  + +$ + +(421 + +) + +  + +  + +  + +  + +  + +  + +Retail channels + +  + +3 + +  + +  + +  + +  + +(42 + +) + +  + +  + +  + +  + +  + +  + +Other3 + +  + +13 + +  + +  + +  + +  + +14 + +  + +  + +  + +  + +  + +  + +  + +Total changes in deferred revenues + +$ + +986 + +  + +  + +  + +$ + +(449 + +) + +  + +  + +  + +  + +  + +  + +1 + +The percentages of total are presented as calculated. Therefore, the sum of these percentages, as presented, may differ due to the impact of rounding. + +2 + +Net revenues from Digital online channels represent revenues from digitally-distributed downloadable content, microtransactions, subscriptions, and products, as well as licensing royalties. + +3 + +Net revenues from Other primarily include revenues from our distribution business, the Overwatch League, and the Call of Duty League. + +4 + +Reflects the net effect from deferral of revenues and (recognition) of deferred revenues on certain of our online-enabled products. + +ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES + +NET REVENUES BY PLATFORM + +(Amounts in millions) + +  + +Three Months Ended + +  + +December 31, 2022 + +  + +December 31, 2021 + +  + +$ Increase +(Decrease) + +  + +% Increase +(Decrease) + +  + +Amount + +  + +% of Total1 + +  + +Amount + +  + +% of Total1 + +  + +  + +Net Revenues by Platform + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Console + +$ + +558 + +  + +24 + +% + +  + +$ + +576 + +  + +  + +27 + +% + +  + +$ + +(18 + +) + +  + +(3 + +) % + +PC + +  + +573 + +  + +25 + +  + +  + +  + +496 + +  + +  + +23 + +  + +  + +  + +77 + +  + +  + +16 + +  + +Mobile and ancillary2 + +  + +948 + +  + +41 + +  + +  + +  + +833 + +  + +  + +39 + +  + +  + +  + +115 + +  + +  + +14 + +  + +Other3 + +  + +255 + +  + +11 + +  + +  + +  + +258 + +  + +  + +12 + +  + +  + +  + +(3 + +) + +  + +(1 + +) + +Total consolidated net revenues + +$ + +2,334 + +  + +100 + +% + +  + +$ + +2,163 + +  + +  + +100 + +% + +  + +$ + +171 + +  + +  + +8 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Change in deferred revenues4 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Console + +$ + +679 + +  + +  + +  + +$ + +276 + +  + +  + +  + +  + +  + +  + +  + +PC + +  + +519 + +  + +  + +  + +  + +25 + +  + +  + +  + +  + +  + +  + +  + +Mobile and ancillary2 + +  + +26 + +  + +  + +  + +  + +19 + +  + +  + +  + +  + +  + +  + +  + +Other3 + +  + +8 + +  + +  + +  + +  + +4 + +  + +  + +  + +  + +  + +  + +  + +Total changes in deferred revenues + +$ + +1,232 + +  + +  + +  + +$ + +324 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Year Ended + +  + +December 31, 2022 + +  + +December 31, 2021 + +  + +$ Increase +(Decrease) + +  + +% Increase +(Decrease) + +  + +Amount + +  + +% of Total1 + +  + +Amount + +  + +% of Total1 + +  + +  + +Net Revenues by Platform + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Console + +$ + +1,753 + +  + +23 + +% + +  + +$ + +2,637 + +  + +  + +30 + +% + +  + +$ + +(884 + +) + +  + +(34 + +) % + +PC + +  + +1,653 + +  + +22 + +  + +  + +  + +2,323 + +  + +  + +26 + +  + +  + +  + +(670 + +) + +  + +(29 + +) + +Mobile and ancillary2 + +  + +3,517 + +  + +47 + +  + +  + +  + +3,182 + +  + +  + +36 + +  + +  + +  + +335 + +  + +  + +11 + +  + +Other3 + +  + +605 + +  + +8 + +  + +  + +  + +661 + +  + +  + +8 + +  + +  + +  + +(56 + +) + +  + +(8 + +) + +Total consolidated net revenues + +$ + +7,528 + +  + +100 + +% + +  + +$ + +8,803 + +  + +  + +100 + +% + +  + +$ + +(1,275 + +) + +  + +(14 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Change in deferred revenues4 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Console + +$ + +313 + +  + +  + +  + +$ + +(254 + +) + +  + +  + +  + +  + +  + +  + +PC + +  + +491 + +  + +  + +  + +  + +(228 + +) + +  + +  + +  + +  + +  + +  + +Mobile and ancillary2 + +  + +168 + +  + +  + +  + +  + +19 + +  + +  + +  + +  + +  + +  + +  + +Other3 + +  + +13 + +  + +  + +  + +  + +14 + +  + +  + +  + +  + +  + +  + +  + +Total changes in deferred revenues + +$ + +985 + +  + +  + +  + +$ + +(449 + +) + +  + +  + +  + +  + +  + +  + +1 + +The percentages of total are presented as calculated. Therefore, the sum of these percentages, as presented, may differ due to the impact of rounding. + +2 + +Net revenues from Mobile and ancillary primarily include revenues from mobile devices. + +3 + +Net revenues from Other primarily include revenues from our distribution business, the Overwatch League, and the Call of Duty League. + +4 + +Reflects the net effect from deferral of revenues and (recognition) of deferred revenues on certain of our online-enabled products. + +ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES + +NET REVENUES BY GEOGRAPHIC REGION + +(Amounts in millions) + +  + +Three Months Ended + +  + +December 31, 2022 + +  + +December 31, 2021 + +  + +$ Increase +(Decrease) + +  + +% Increase +(Decrease) + +  + +Amount + +  + +% of Total1 + +  + +Amount + +  + +% of Total1 + +  + +  + +Net Revenues by Geographic Region + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Americas + +$ + +1,211 + +  + +52 + +% + +  + +$ + +1,112 + +  + +  + +51 + +% + +  + +$ + +99 + +  + +  + +9 + +% + +EMEA2 + +  + +742 + +  + +32 + +  + +  + +  + +751 + +  + +  + +35 + +  + +  + +  + +(9 + +) + +  + +(1 + +) + +Asia Pacific + +  + +381 + +  + +16 + +  + +  + +  + +300 + +  + +  + +14 + +  + +  + +  + +81 + +  + +  + +27 + +  + +Total consolidated net revenues + +$ + +2,334 + +  + +100 + +% + +  + +$ + +2,163 + +  + +  + +100 + +% + +  + +$ + +171 + +  + +  + +8 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Change in deferred revenues3 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Americas + +$ + +784 + +  + +  + +  + +$ + +188 + +  + +  + +  + +  + +  + +  + +  + +EMEA2 + +  + +363 + +  + +  + +  + +  + +123 + +  + +  + +  + +  + +  + +  + +  + +Asia Pacific + +  + +85 + +  + +  + +  + +  + +13 + +  + +  + +  + +  + +  + +  + +  + +Total changes in deferred revenues + +$ + +1,232 + +  + +  + +  + +$ + +324 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Year Ended + +  + +December 31, 2022 + +  + +December 31, 2021 + +  + +$ Increase +(Decrease) + +  + +% Increase +(Decrease) + +  + +Amount + +  + +% of Total1 + +  + +Amount + +  + +% of Total1 + +  + +  + +Net Revenues by Geographic Region + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Americas + +$ + +4,208 + +  + +56 + +% + +  + +$ + +4,931 + +  + +  + +56 + +% + +  + +$ + +(723 + +) + +  + +(15 + +) % + +EMEA2 + +  + +2,236 + +  + +30 + +  + +  + +  + +2,797 + +  + +  + +32 + +  + +  + +  + +(561 + +) + +  + +(20 + +) + +Asia Pacific + +  + +1,084 + +  + +14 + +  + +  + +  + +1,075 + +  + +  + +12 + +  + +  + +  + +9 + +  + +  + +1 + +  + +Total consolidated net revenues + +$ + +7,528 + +  + +100 + +% + +  + +$ + +8,803 + +  + +  + +100 + +% + +  + +$ + +(1,275 + +) + +  + +(14 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Change in deferred revenues3 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Americas + +$ + +609 + +  + +  + +  + +$ + +(288 + +) + +  + +  + +  + +  + +  + +  + +EMEA2 + +  + +257 + +  + +  + +  + +  + +(136 + +) + +  + +  + +  + +  + +  + +  + +Asia Pacific + +  + +120 + +  + +  + +  + +  + +(25 + +) + +  + +  + +  + +  + +  + +  + +Total changes in deferred revenues + +$ + +986 + +  + +  + +  + +$ + +(449 + +) + +  + +  + +  + +  + +  + +  + +1 + +The percentages of total are presented as calculated. Therefore, the sum of these percentages, as presented, may differ due to the impact of rounding. + +2 + +Net revenues from EMEA consist of the Europe, Middle East, and Africa geographic regions. + +3 + +Reflects the net effect from deferral of revenues and (recognition) of deferred revenues on certain of our online-enabled products. + +ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES + +EBITDA AND ADJUSTED EBITDA + +(Amounts in millions) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +March 31, +2022 + +  + +June 30, +2022 + +  + +September 30, +2022 + +  + +December 31, +2022 + +  + +Trailing Twelve +Months Ended +December 31, +2022 + +GAAP Net Income + +$ + +395 + +  + +  + +$ + +280 + +  + +  + +$ + +435 + +  + +  + +$ + +403 + +  + +  + +$ + +1,513 + +  + +Interest expense from debt + +  + +27 + +  + +  + +  + +27 + +  + +  + +  + +27 + +  + +  + +  + +27 + +  + +  + +  + +108 + +  + +Other income (expense), net + +  + +(13 + +) + +  + +  + +(10 + +) + +  + +  + +(42 + +) + +  + +  + +(117 + +) + +  + +  + +(182 + +) + +Provision for income taxes + +  + +70 + +  + +  + +  + +41 + +  + +  + +  + +65 + +  + +  + +  + +55 + +  + +  + +  + +231 + +  + +Depreciation and amortization + +  + +24 + +  + +  + +  + +25 + +  + +  + +  + +29 + +  + +  + +  + +28 + +  + +  + +  + +106 + +  + +EBITDA + +  + +503 + +  + +  + +  + +363 + +  + +  + +  + +514 + +  + +  + +  + +396 + +  + +  + +  + +1,776 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Share-based compensation expense1 + +  + +98 + +  + +  + +  + +100 + +  + +  + +  + +102 + +  + +  + +  + +161 + +  + +  + +  + +462 + +  + +Restructuring and related costs2 + +  + +(2 + +) + +  + +  + +(3 + +) + +  + +  + +2 + +  + +  + +  + +— + +  + +  + +  + +(3 + +) + +Partnership wind down and related costs3 + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +27 + +  + +  + +  + +27 + +  + +Merger and acquisition-related fees and other expenses4 + +  + +32 + +  + +  + +  + +16 + +  + +  + +  + +10 + +  + +  + +  + +10 + +  + +  + +  + +68 + +  + +Adjusted EBITDA + +$ + +631 + +  + +  + +$ + +476 + +  + +  + +$ + +628 + +  + +  + +$ + +594 + +  + +  + +$ + +2,330 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Change in deferred net revenues and related cost of revenues5 + +$ + +(235 + +) + +  + +$ + +(1 + +) + +  + +$ + +25 + +  + +  + +$ + +1,059 + +  + +  + +$ + +848 + +  + +1 + +Reflects expenses related to share-based compensation. + +2 + +Reflects restructuring initiatives. + +3 + +Reflects expenses related to the wind down of our partnership with NetEase in China in regards to licenses covering the publication of several Blizzard titles which expired in January 2023. + +4 + +Reflects fees and other expenses related to our proposed transaction with Microsoft, primarily legal and advisory fees. + +5 + +Reflects the net effect from deferral of revenues and (recognition) of deferred revenues, along with related cost of revenues, on certain of our online-enabled products. + +Trailing twelve months amounts are presented as calculated. Therefore, the sum of the four quarters, as presented, may differ due to the impact of rounding. + +ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES + +OPERATING METRICS + +(Amounts in millions) + +Net Bookings1 + +  + +Three Months Ended December 31, + +  + +Year Ended December 31, + +  + +2022 + +  + +2021 + +  + +$ Increase +(Decrease) + +  + +% Increase +(Decrease) + +  + +2022 + +  + +2021 + +  + +$ Increase +(Decrease) + +  + +% Increase +(Decrease) + +Net bookings1 + +$ + +3,566 + +  + +$ + +2,487 + +  + +$ + +1,079 + +  + +43 + +% + +  + +$ + +8,514 + +  + +$ + +8,354 + +  + +$ + +160 + +  + +2 + +% + +In-game net bookings2 + +$ + +1,818 + +  + +$ + +1,241 + +  + +$ + +577 + +  + +46 + +% + +  + +$ + +5,382 + +  + +$ + +5,100 + +  + +$ + +282 + +  + +6 + +% + +1 + +We monitor net bookings as a key operating metric in evaluating the performance of our business because it enables an analysis of performance based on the timing of actual transactions with our customers and provides more timely indications of trends in our operating results. Net bookings is the net amount of products and services sold digitally or sold-in physically in the period, and includes license fees, merchandise, and publisher incentives, among others. Net bookings is equal to net revenues excluding the impact from deferrals. + +2 + +In-game net bookings primarily includes the net amount of downloadable content and microtransactions sold during the period, and is equal to in-game net revenues excluding the impact from deferrals. + +  + +December 31, 2021 + +  + +March 31, 2022 + +  + +June 30, 2022 + +  + +September 30, 2022 + +  + +December 31, 2022 + +Activision + +107 + +  + +100 + +  + +94 + +  + +97 + +  + +111 + +Blizzard + +24 + +  + +22 + +  + +27 + +  + +31 + +  + +45 + +King + +240 + +  + +250 + +  + +240 + +  + +240 + +  + +233 + +Total MAUs + +371 + +  + +372 + +  + +361 + +  + +368 + +  + +389 + +3 + +We monitor monthly active users (“MAUs”) as a key measure of the overall size of our user base. MAUs are the number of individuals who accessed a particular game in a given month. We calculate average MAUs in a period by adding the total number of MAUs in each of the months in a given period and dividing that total by the number of months in the period. An individual who accesses two of our games would be counted as two users. In addition, due to technical limitations, for Activision and King, an individual who accesses the same game on two platforms or devices in the relevant period would be counted as two users. For Blizzard, an individual who accesses the same game on two platforms or devices in the relevant period would generally be counted as a single user. In certain instances, we rely on third parties to publish our games. In these instances, MAU data is based on information provided to us by those third parties, or, if final data is not available, reasonable estimates of MAUs for these third-party published games. + +  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230204005007/en/ \ No newline at end of file diff --git a/news/ATVI/2023.02.06/Futures fall with eyes on earnings.txt b/news/ATVI/2023.02.06/Futures fall with eyes on earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..4632cb5cad33b0a703a640b008ffb4aadc16f2e2 --- /dev/null +++ b/news/ATVI/2023.02.06/Futures fall with eyes on earnings.txt @@ -0,0 +1 @@ +Companies reporting quarterly results this week include Walt Disney Co and PepsiCo Inc, while Tyson Foods Inc, Lowe's Cos Inc, Activision Blizzard Inc and Cummins Inc report results later in the day.Halfway through the earnings of the S&P 500 companies, 69.6% have reported results above expectations, according to Refinitiv. Overall, analysts still expect quarterly earnings of S&P 500 firms declining 2.7%.Last week's stunning nonfarm payrolls report, which showed U.S. economy added jobs at a rapid pace, pulled Wall Street's main indexes down on Friday, but for the week both the S&P 500 and Nasdaq gained 1.6% and 3.3%, respectively.Job growth in the U.S. accelerated sharply in January, with nonfarm payrolls surging by 517,000 jobs, well above an estimate of 185,000. The unemployment rate hit a more than 53-1/2-year low of 3.4%.After a bruising 2022, U.S. equities have posted strong gains in 2023 led by technology stocks amid hopes that the Fed will temper its aggressive rate hikes, which in turn could alleviate some pressure on equity valuations.On the data front, investors will monitor jobless claims for the week ended Feb. 4 and University of Michigan's consumer sentiment survey to assess the strength of the U.S. economy.A host of Fed officials are also scheduled to speak this week, including Powell on Tuesday.At 5:30 a.m. ET, Dow e-minis were down 237 points, or 0.7%, S&P 500 e-minis were down 37 points, or 0.89%, and Nasdaq 100 e-minis were down 144.25 points, or 1.14%. (Reporting by Shubham Batra; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/ATVI/2023.02.06/Reuters-schedule.txt b/news/ATVI/2023.02.06/Reuters-schedule.txt new file mode 100644 index 0000000000000000000000000000000000000000..896a69ab3fc46a3aa2b1375606d77fae532b9ba5 --- /dev/null +++ b/news/ATVI/2023.02.06/Reuters-schedule.txt @@ -0,0 +1,146 @@ +Here are the top stories and upcoming coverage plans for Reuters +text service as of XX GMT/XX ET. For a full schedule of news and +events, go to our editorial calendar on Reuters Connect.TOP STORIESGLOBALTURKEY-QUAKE/SYRIAHuge earthquake kills 3,000 in Turkey and Syria, bad weather +worsens plightKAHRAMANMARAS, Turkey/DAMASCUS, Feb 6 (Reuters) - A huge +earthquake killed more than 3,000 people across a swathe of +Turkey and northwest Syria on Monday, with freezing winter +weather adding to the plight of the thousands left injured or +homeless and hampering efforts to find survivors.UKRAINE-CRISIS/Ukraine's defence ministry in turmoil as Russia readies +offensiveKYIV, Feb 6 (Reuters) - Ukraine sowed confusion on Monday +about whether its defence minister would be replaced, creating +doubts about the leadership of its war effort just as it braces +for an expected Russian offensive.U.S.USA-CHINA/BALLOONU.S. imposes security zone in search for Chinese balloon +remnantsWASHINGTON/BEIJING, Feb 6 (Reuters) - The U.S. Coast Guard +on Monday imposed a temporary security zone in waters off South +Carolina during the military's search and recovery of debris +from a suspected Chinese spy balloon that a U.S. fighter jet +shot down.USA-FED/BOSTICFed may need to push rates higher, Bostic tells BloombergFeb 6 (Reuters) - The U.S. Federal Reserve may need to lift +borrowing costs higher than previously anticipated given the +unexpectedly strong reading on jobs gains in January, Atlanta +Federal Reserve Bank President Raphael Bostic said on Monday.BUSINESSSLNEWCREST-M&A/NEWMONTNewmont open to sweetening $16.9 bln bid for gold rival +Newcrest -sourceFeb 6 (Reuters) - U.S.-based Newmont Corp is open to +slightly increasing its $16.9 billion offer for Newcrest Mining +Ltd, according to a source familiar with management's thinking, +amid concerns its current bid is too low after recent leadership +changes at the Australian company.ACTIVISION-RESULTS/'Call of Duty' steers Activision sales in tough quarter for +game makersFeb 6 (Reuters) - Videogame publisher Activision Blizzard +beat Wall Street estimates for fourth-quarter adjusted sales on +Monday, thanks to the success of the latest game in its "Call of +Duty" franchise.ENTERTAINMENTAWARDS-GRAMMYS/Beyonce breaks all-time Grammy wins record, Harry Styles +claims album prizeLOS ANGELES, Feb 5 (Reuters) - Pop superstar Beyonce broke +the record for most career wins at music's Grammy awards on +Sunday but lost again in the prestigious album of the year +category, this time to British singer Harry Styles.PEOPLE-SALMAN RUSHDIE/BOOKSalman Rushdie releases new novel six months after stabbing +attackNEW YORK, Feb 6 (Reuters) - Salman Rushdie's new novel +"Victory City" will be published on Tuesday, nearly six months +after a man repeatedly stabbed the writer onstage during a +lecture in New York state in what was widely condemned as an +attack on freedom of expression.SPORTSSOCCER-ENGLAND-MCI/FINANCESPremier League charges Man City over alleged financial rule +breachesFeb 6 (Reuters) - The Premier League has referred Manchester +City to an independent commission over more than 100 alleged +breaches of finance rules since the club were acquired by the +Abu Dhabi-based City Football Group.MOTOR-F1-WILLIAMS/F1 seat means more time in the gym for SargeantGROVE, England, Feb 6 (Reuters) - Logan Sargeant has not let +his new status as a Formula One driver go to his head as he +prepares for a race debut with Williams in Bahrain next month.UPCOMINGBUSINESS / ECONOMICSUSA-DEBT/ (PIX)U.S. House Speaker Kevin McCarthy speaks about the debt +ceilingU.S. House Speaker Kevin McCarthy (R-CA) delivers an address +on the debt ceiling.6 Feb 22:30 ET / 22:30 GMTFOREX-POLL/CANADAPOLL-Canadian dollar outlook for the coming yearForeign exchange strategists forecast the performance of the +Canadian dollar against its U.S. counterpart over the coming 12 +months.7 FebCENTENE-RESULTS/Centene Corp Q4 earningsCentene Corp to release its Q4 results on Tuesday before +markets open. Investors focus is expected to be on the insurer's +annual forecast, medical costs as the quarter saw rise in RSV, +flu infections, and any comments on CMS' RADV rule and Medicare +Advantage reimbursement rates.7 FebMINING-INDABA/ (PIX)Investing in African Mining Indaba conference takes place in +Cape TownThe Investing in African Mining Indaba conference takes +place in Cape Town on Feb. 6-9, bringing together mining company +executives, investors, and mines ministers from across Africa +and beyond to discuss industry issues and to network.7 FebTAIWAN-USA/TRADEAmCham Taiwan business climate survey releaseThe American Chamber of Commerce in Taiwan launches its 2023 +Business Climate Survey.7 Feb 02:00 ET / 02:00 GMTMONEY-BOOK/RESETWhat is your Plan B? Prepping for a money resetThe question is not whether a Great Money Reset is coming +your way – it is when. So as you sit down and think through the +elements of a financial reboot – spending, saving, career path, +retirement outlook, and more – here are a few factors to +consider.7 Feb 05:00 ET / 05:00 GMTMINING-INDABA/RAMAPHOSA (PIX)South African President Ramaphosa to address African Mining +Indaba conferenceSouth African President Cyril Ramaphosa will deliver a +keynote address on Tuesday at the Investing in African Mining +Indaba conference, aimed at driving investments in Africa.7 Feb 07:00 ET / 07:00 GMTBRITAIN-BANKS/SAVINGSUK bank bosses set to be grilled by lawmakers over savings +ratesThe bosses of Britain’s top retail banks are set to be +grilled by lawmakers on the Treasury Select Committee over +whether they are passing on enough of central bank rate rises to +struggling consumers.7 Feb 09:30 ET / 09:30 GMTNIGERIA-ELECTION/BUSINESS (PIX) (TV)Printers of Nigeria election regalia lose out as ad +campaigns pivot onlineA loud whir fills the back of a print shop in Nigeria's +capital Abuja as machines churn out grinning faces of +presidential election frontrunners on posters, flyers and food +packaging.7 Feb 10:00 ET / 10:00 GMTUSA-FED/POWELL (PIX)Do blockbuster job gains jive with 'slow-flation'? Fed's +Powell faces new dilemmaAfter vouching last week that a "gratifying" drop in +inflation was underway, Federal Reserve Chair Jerome Powell will +face questions on Tuesday about whether a blowout January jobs +report has shaken his confidence the decline can continue +without harsher steps by the U.S. central bank to slow the +economy.7 Feb 11:00 ET / 11:00 GMTROYALCARIBBEANGROUP-RESULTS/Royal Caribbean Group Q4 2022 EarningsRoyal Caribbean Group is expected to post a rise in +fourth-quarter revenue on Tuesday, helped by a rebound in cruise +travel and strong bookings as on-board COVID-19 protocols ease.7 Feb 13:00 ET / 13:00 GMTPOLITICS / INTERNATIONAL AFFAIRSUSA-BIDEN/CONGRESS-EXPLAINERWhen is the State of the Union 2023? Date of Biden's address +and what to expectU.S. President Joe Biden will deliver his first State of the +Union address after Republicans took control of the House of +Representatives in a speech that may mark the unofficial start +of the 2024 presidential campaign season. Here's what to expect.7 FebGERMANY-USA/HABECK (PIX) (TV)German economy minister Habeck meets business leaders, +politicians in WashingtonGerman Economy Minister Robert Habeck meets business +leaders, politicians in Washington to discuss cooperation with +European businesses.7 FebUKRAINE-CRISIS/USA-NATONATO's Stoltenberg visits the United StatesNATO Secretary-General Jens Stoltenberg visits the United +States Feb 7-9. He is meeting Secretary of State Antony Blinken, +Secretary of Defense Lloyd Austin, U.S. National Security +Advisor Jake Sullivan and other senior U.S. officials7 FebUSA-BIDEN/CONGRESS-REPUBLICANS (TV)Republican response to Biden's State of the Union addressArkansas Governor Sarah Huckabee Sanders to give speech +responding to Democratic President Joe Biden's State of the +Union address.7 FebUSA-BIDEN/APPROVALReuters/Ipsos monthly poll on President Joe Biden's job +approvalReuters/Ipsos conducts monthly polling on U.S. President Joe +Biden's job approval rating and Americans' views of the +direction the country is headed in.7 FebMEMPHIS-POLICE/CONGRESS-BIDENTyre Nichols' mother, stepfather attend Biden State of the +Union speechMother and stepfather of Tyre Nichols, Black man who was +fatally beaten by Memphis, Tenn., police officers, accept +invitation to attend U.S. President Joe Biden's State of the +Union address. Biden has spoken with Nichols' mother, RowVaughn +Wells, and his stepfather, Rodney Wells.7 FebUKRAINE-CRISIS/NATONATO deputy secretary general, defence minister of +Sweden/Finland and Norway PM attend Leangkollen security +conference in OsloNorway PM, defence ministers of Sweden and Finland, deputy +secretary general of NATO, various Norwegian military chiefs are +attending two-day conference dedicated to the war in Ukraine.7 FebPHILIPPINES-POLITICS/MARCOSPhilippines President Ferdinand Marcos Jr delivers speech at +a national tax campaign launchPhilippines President Ferdinand Marcos Jr delivers speech at +a national tax campaign launch.7 Feb 06:00 ET / 06:00 GMTBRITAIN-POLITICS/JOHNSON-BBC (TV)BBC Chairman faces questions from UK parliamentary committee +on his appointmentA British parliamentary committee will question BBC Chairman +Richard Sharp after media reports about his appointment. There +has been speculation about his selection process and his role in +securing a loan for then-prime minister Boris Johnson.7 Feb 10:00 ET / 10:00 GMTMALI-RUSSIA/Russian foreign minister Lavrov visits MaliRussian Foreign Minister Sergei Lavrov arrives in Mali for a +two-day visit reflecting what the Malian foreign ministry has +described as a shared wish to strengthen defence and security +ties.7 Feb 11:30 ET / 11:30 GMTDISASTERS / ACCIDENTSTURKEY-QUAKE/ (PIX) (TV)Turkey, Syria still seek survivors after major quake killed +thousandsSearch and rescue operations continue a day after a huge +earthquake killed more than 2,200 people and injured thousands +more in Turkey and northwest Syria. The magnitude 7.8 quake was +the worst to strike Turkey this century.7 FebARTS / CULTURE / ENTERTAINMENTFASHION-NEW YORK/YOUNG DESIGNERS (TV)Black male teens debut their designs during NYFWBlack male teens debut their designs during NYFW.7 FebMUSIC-SHANIA TWAIN/ (PIX) (TV)Shania Twain dreams up joyful new music for post-pandemic +celebrationsAfter a life-threatening bout of COVID-19, five-time Grammy +winner Shania Twain hopes to bring joy to the world with her new +album ‘Queen of Me’.7 Feb 06:00 ET / 06:00 GMTART-NETHERLANDS/VERMEER (PIX) (TV)Major Vermeer exhibition to open in AmsterdamAn exhibition bringing together 28 works by Dutch painter +Johannes Vermeer which are fit to travel opens at the +Rijksmusuem in Amsterdam.7 Feb 10:00 ET / 10:00 GMTCRIME / LAW / JUSTICEBRITAIN-COURT/POLICE (TV)UK police officer sentenced for sex offencesBritish police officer David Carrick sentenced for multiple +sex offences including rape. Sentencing could take place over +several days.7 FebCLIMATE CHANGE-COURT/GERMANY-BMWMunich regional court gives verdict on climate change case +against BMWA regional court in Munich gives a verdict on a case by +German environmental NGO Deutsche Umwelthilfe against BMW over +the carmaker's impact on climate change.7 Feb 09:00 ET / 09:00 GMTCANADA-DRUGS/DECRIMINALIZATION (PIX)Canada's decriminalization experiment no match for toxic +drug supplyA bold Canadian experiment to decriminalize hard drugs +stands to reduce stigma and police run-ins for addicts but does +little to tackle a bigger problem of overdose deaths from drug +supplies adulterated with lethal ingredients.7 Feb 11:00 ET / 11:00 GMTCONFLICTS / WAR / PEACETAIWAN-DEFENCE/ (TV)Regular Taiwan Defence Ministry press conferenceRegular Taiwan Defence Ministry press conference.7 Feb 02:00 ET / 02:00 GMTNIGERIA-MILITARY/ABORTIONS-INVESTIGATION (TV)Nigeria's human rights body to launch panel to probe +abortion allegations against militaryThe National Human Rights Commission of Nigeria will launch +a seven-member special panel whose role will include +investigating a Reuters report that the military ran a secret +abortion programme in its fight against Islamist insurgents in +the northeast.7 Feb 11:00 ET / 11:00 GMTSYRIA-CRISIS/CHEMICALWEAPONSUN Security Council to meet on Syria's chemical weapons +programThe UN Security Council will meet on Syria's chemical +weapons program.7 Feb 15:00 ET / 15:00 GMTSCIENCE / TECHNOLOGYTURKEY-QUAKE/SYRIA-WHO (PIX) (TV)WHO chief and emergencies director to brief members on +situation in Turkey and Syria after earthquakeDirector-General Dr Tedros Adhanom Ghebreyesus and by Dr +Mike Ryan, Executive Director of WHO’s Health Emergencies +Programme, will give an overview of the situation in Turkey and +Syria at the World Health Organization’s Executive Board +meeting.7 Feb 08:00 ET / 08:00 GMTSPORTSMOTOR-F1-ALFAROMEO/ (TV)Motor racing-Alfa Romeo Formula One car launchSwiss-based Alfa Romeo launch their 2023 Formula One car in +an online presentation in Zurich.7 Feb 09:00 ET / 09:00 GMTALPINE SKIING-WORLD/MEN (PIX)Men's Alpine Combined FIS Alpine World SKI Championship in +CourchevelFIS Alpine World SKI Championship for Men's Alpine Combined +in Courchevel.1100 first run1430 second run1830 medal ceremony7 Feb 10:00 ET / 10:00 GMT \ No newline at end of file diff --git a/news/ATVI/2023.02.06/Take-Two's dour forecast deepens concern in videogame industry.txt b/news/ATVI/2023.02.06/Take-Two's dour forecast deepens concern in videogame industry.txt new file mode 100644 index 0000000000000000000000000000000000000000..3033bf09378ac0ef6fdd643455d779166dd67ae5 --- /dev/null +++ b/news/ATVI/2023.02.06/Take-Two's dour forecast deepens concern in videogame industry.txt @@ -0,0 +1,23 @@ +Feb 6 (Reuters) - Take-Two Interactive Software Inc lowered its +annual bookings forecast on Monday, signaling a deeper struggle faced by +videogame publishers to keep gamers glued amid a weakening economy and broader +slump in the gaming market.The dour forecast follows the disappointing show from rival Electronic Arts +and Xbox maker Microsoft Corp, increasing fears that the slump +in gaming market might sustain this year."The repeated misses by major publishers evidences the softer market for +video games after a strong period during the last few years and tests their +ability to navigate the coming quarters as they compete for consumer attention +and spending," said Joost Van Dreunen, a lecturer at New York University Stern +School of Business.Shares of New York-based Take-Two fell 1% in extended trading.Take-Two Chief Executive Strauss Zelnick said net bookings took a hit as +"consumers shifted their holiday spending toward established blockbuster +franchises and titles that were offered with pricing promotions in light of +macroeconomic conditions."He added that the trend affected performance of some new releases.Despite releasing to good reviews on Dec. 2, Take-Two's role-playing game +"Marvel's Midnight Suns" was the 14th most downloaded title on Sony's +PlayStation 5 in December, trailing even the two-year-old title "Spider-Man: +Miles Morales."As inflation squeezes budgets, more gamers are expected to stick to their +favorite gaming franchises, instead of experimenting with newer titles from +other studios, analysts have said.Activision's latest title in this popular franchise "Call of Duty" helped it +to beat Street estimates for fourth-quarter adjusted sales on Monday.Take-Two posted third quarter adjusted sales of $1.38 billion, compared to +analysts' estimate of $1.46 billion. Excluding items, it earned 86 cents per +share during the quarter.The company now expects full-year adjusted sales between $5.2 billion and +$5.25 billion, compared with $5.4 billion to $5.5 billion forecast previously. +(Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/ATVI/2023.02.07/Chegg, Bed Bath & Beyond fall; Hertz, Activision rise.txt b/news/ATVI/2023.02.07/Chegg, Bed Bath & Beyond fall; Hertz, Activision rise.txt new file mode 100644 index 0000000000000000000000000000000000000000..89195cfe87d49529ed5b1c56a458d17d007ea1aa --- /dev/null +++ b/news/ATVI/2023.02.07/Chegg, Bed Bath & Beyond fall; Hertz, Activision rise.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Tuesday:Activision Blizzard Inc., up $4.02 to $75.60.The maker of “Call of Duty” and other video games reported strong fourth-quarter financial results.Skyworks Solutions Inc., up $13.69 to $122.97.The chipmaker announced a $2 billion stock buyback plan.Royal Caribbean Group, up $4.92 to $74.01.The cruise line operator's fourth-quarter earnings beat Wall Street forecasts.ZoomInfo Technologies Inc., up $1.52 to $30.24.The software and data company beat analysts' fourth-quarter profit and revenue forecasts.Hertz Global Holdings Inc., up $1.32 to $19.The car rental company reported strong fourth-quarter financial results.Chegg Inc., down $3.60 to $17.43.The provider of online textbook rental services gave investors a weak revenue forecast.CONSOL Energy Inc., up $4.13 to $62.45.The coal company handily beat Wall Street's fourth-quarter profit and revenue forecasts.Bed Bath & Beyond Inc., down $2.85 to $3.01.The struggling home goods retailer is hoping to raise just over $1 billion through an equity offering.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/ATVI/2023.02.07/Jerome returns in the second week.txt b/news/ATVI/2023.02.07/Jerome returns in the second week.txt new file mode 100644 index 0000000000000000000000000000000000000000..faf41943178f9b34404145dbcd69b26f72148bfb --- /dev/null +++ b/news/ATVI/2023.02.07/Jerome returns in the second week.txt @@ -0,0 +1,38 @@ + +There are wars, the devastating earthquake in Turkey and Syria, trade tensions, strikes, balloons or recession fears, but it is probably a discussion scheduled for tonight in Washington that will seal part of the fate of the financial markets in the weeks to come. This discussion should take place at 12:40 pm in the American capital between David Rubenstein and Jerome Powell. The first is the former head of Carlyle and the president of the Economic Club of Washington, D.C. and will play the role of the interviewer. The second is the head of the U.S. central bank. The duo could chat about fishing, the weather or the recipe for four-cheese pizza, but it's still a safe bet that they'll mostly be discussing monetary policy. The question for investors is whether the Fed boss will try to dampen the enthusiasm or whether he will let it go, as he seemed to do last week. +The market has its own idea. It has tensed up since Friday, vaguely aware that it may have gone a little too far in its optimism. Stock market indexes have fallen, the dollar has risen and the yield on 10-year US debt has recovered quite a bit of ground. But it doesn't look like it will take much for stocks and bonds to catch fire again. In my opinion, it will take a very aggressive Powell to convince the financial community that they should be more cautious. If they perceive some hesitation or a flaw in the phrasing, optimism is likely to take over quite quickly. Powell received a boost last night from Atlanta Fed boss Raphael Bostic, who believes that the current rate hike cycle could be revised upward because of the overheated job market. Bostic is usually a moderate within the Federal Reserve, more dove-like (those who favor a loose monetary policy) than hawk-like (those who favor an orthodox monetary policy). +Company results are going to pile up again in the United States with Linde, Vertex and KKR are also on the agenda. Overall, we expect mixed results but big share buybacks, because it looks good, we have money and it avoids saying that we pay dividends, because dividends are evil. +In the rest of the macroeconomy, the civilian balloon launchers have announced a new guideline for the medium term, in addition to the economic growth objectives. It revolves around "quality" and consists of upgrading Chinese society on many standards. It's a bit of a catch-all at this point, but it does reflect a desire to accompany economic expansion with a variety of civil advances. The markets have noted that this could lead to additional investment, which is not to their displeasure. In the United States, Joe Biden is scheduled to deliver his 2023 State of the Union address today. The financial press understands that he will use the occasion to relaunch his plan to tax billionaires and to mention a quadrupling of the tax on share buybacks (read in the Financial Times this morning). He looks good, Joe. +  +Economic highlights of the day: +On the agenda, the US trade balance for December (8:30am). All the agenda here. This morning, the Australian central bank raised rates by a quarter point, as expected, while warning that further rate hikes will be necessary in the coming months. +  + +The dollar continues to rise to 0.9340EUR. The ounce of gold remains under pressure at 1869 USD. Oil is recovering slightly, with North Sea Brent crude at 82.10 USD per barrel and U.S. light crude WTI at 75.52 USD. The yield on 10-year US debt is back up to 3.62%. Bitcoin is trading around 23,000 USD. + + +In corporate news: + +* Apollo Global Management is among several financial companies in discussions with Credit Suisse to acquire a stake in the investment bank that the Swiss group intends to spin off. +* Boeing expects to cut about 2,000 financial and human resources jobs this year through a layoff plan and natural attrition. +* Chevron - Italy's Eni may take over the U.S. oil company's stake in the Indonesia Deepwater Development (IDD) gas project and operate it by mid-2023. +* CVS is close to a deal to acquire healthcare group OAK STREET HEALTH for about $10.5 billion including debt. +* Activision Blizzard reported better-than-expected adjusted fourth-quarter revenue Monday night, helped by the success of its "Call of Duty" video game franchise. +* Pinterest - The image-sharing platform reported weaker-than-expected quarterly revenue Monday night, sending its stock down nearly 4% in pre-market trading. +* Take-Two Interactive Software on Monday night lowered its annual adjusted revenue forecast after lower-than-expected sales for its third quarter off-year. The video game publisher's stock was down 1% in after-hours trading. +* Baidu - The New York-listed Chinese group's stock soared 15% in pre-opening trading as the search engine giant said it would complete internal testing of its ChatGPT-like project dubbed "Ernie Bot" in March. +  + +Analyst recommendations: + +Akamai Technologies: Loop Capital Markets initiated coverage with a recommendation of hold. Price target set to $91. +Illinois Tool Works: Morgan Stanley raised price target to $223 from $174. +On Semiconductor: KeyBanc Capital Markets raised the target to $100 from $80. Maintains overweight rating. +Neurocrine Biosciences:  RBC Capital Markets cut the target to $110 from $122. Maintains sector perform rating. +Parker-Hannifin: Argus Research maintains buy rating. Price target up to $390 from $335 +Pfizer: Daiwa Securities raised the recommendation to outperform from neutral. PT up 17% to $51. +Saia: Susquehanna Financial maintains neutral rating. PT up to $280 from $220. +Skyworks Solutions: Needham & Co raised the target to $140 from $110. Maintains buy rating. +Timken: Stifel maintains buy rating to $100 from $85. +Tyson Foods: Goldman Sachs cut the recommendation to neutral from buy. PT set to $66. + diff --git a/news/ATVI/2023.02.07/Workplace Misconduct Again! SEC Charges Failure Of Disclosure Controls.txt b/news/ATVI/2023.02.07/Workplace Misconduct Again! SEC Charges Failure Of Disclosure Controls.txt new file mode 100644 index 0000000000000000000000000000000000000000..9c4c976503440ae2bce6dbcfc8036b7cc1b45bc3 --- /dev/null +++ b/news/ATVI/2023.02.07/Workplace Misconduct Again! SEC Charges Failure Of Disclosure Controls.txt @@ -0,0 +1,11 @@ +Alleged workplace misconduct—and the obligation to collect information and report up about it—rears its head again in yet another case, this time involving Activision Blizzard, Inc. Just last month, in In re McDonald's Corporation, the former "Chief People Officer" of McDonald's Corporation was alleged to have breached his fiduciary duty of oversight by consciously ignoring red flags about sexual harassment and misconduct in the workplace. According to the court in that case, the defendant "had an obligation to make a good faith effort to put in place reasonable information systems so that he obtained the information necessary to do his job and report to the CEO and the board, and he could not consciously ignore red flags indicating that the corporation was going to suffer harm." (See this PubCo post.) Now, the SEC has issued an Order in connection with a settled action alleging that Activision Blizzard, Inc., a videogame developer and publisher, violated the Exchange Act's disclosure controls rule because it "lacked controls and procedures designed to ensure that information related to employee complaints of workplace misconduct would be communicated to Activision Blizzard's disclosure personnel to allow for timely assessment on its disclosures." In addition, the SEC alleged that the company violated the whistleblower protection rules by requiring, in separation agreements, that former employees "notify the company if they received a request from a government administrative agency in connection with a report or complaint." As a result, Activision Blizzard agreed to pay a $35 million civil penalty. These cases suggest that company actions (or lack thereof) around workplace misconduct and information gathering and reporting have resonance far beyond employment law. It's also noteworthy that this Order represents yet another case (see this PubCo post) where a "control failure" is a lever used by SEC Enforcement to bring charges against a company notwithstanding the absence of any specific allegations of material misrepresentation or misleading disclosure, a point underscored by Commissioner Hester Peirce in her dissenting statement, discussed below.Disclosure controls and procedures. Rule 13a-15(a) requires public companies to maintain disclosure controls and procedures: that is, controls and procedures "designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the [Exchange] Act is accumulated and communicated to the issuer's management . . . to allow timely decisions regarding required disclosure." In the absence of effective disclosure controls and procedures, the underlying theory is, management may not have sufficient information to judge whether its public disclosures are accurate, complete and not misleading.According to the SEC's Order, the company included in its Forms 10-K for the years 2017 through 2020 risk factors that emphasized the importance to its business of attracting, retaining and motivating skilled personnel, especially in light of the competitive recruiting characteristic of the industry. Similar cautionary language appeared in company Forms 10-Q throughout the period. However, the SEC alleged, the company lacked the "controls and procedures designed to ensure that it captured and assessed—from a disclosure perspective—certain information related to these risk factors. This included lacking controls and procedures among its separate business units designed to collect or analyze employee complaints of workplace misconduct." Although the company did have in place controls requiring business unit leaders to report to a Disclosure Committee about "certain categories of potentially material information," those "categories did not include information relevant to Activision Blizzard's ability to retain employees, such as employee complaints or incidents of workplace misconduct." As a result, the Order alleged, management and disclosure personnel "did not have sufficient information to understand the volume and substance of employee complaints of workplace misconduct, [or] to assess related risks to the company's business, whether material issues existed that warranted disclosure to investors," or whether any of the disclosures the company did make were accurate and complete. Between May 2020 and May 2022, the Order stated, the company did implement "structural changes and policies" that enhanced reporting of employee complaints to senior management and disclosure personnel. The SEC did not allege that any particular statement was materially inaccurate or misleading.SideBarAlthough the Order's cryptic description of events did not provide much sense of the substance of the alleged workplace misconduct or employee complaints, this statement from the EEOC indicates that, in its litigation, it alleged that Activision Blizzard "violated Title VII of the Civil Rights Act of 1964 by subjecting employees to sexual harassment, pregnancy discrimination, and retaliation related to sexual harassment or pregnancy discrimination."Whistleblower protection rules. Section 21F of the Exchange Act, "Whistleblower Incentives and Protection," provides that "[n]o person may take any action to impede an individual from communicating directly with the Commission staff about a possible securities law violation, including enforcing, or threatening to enforce, a confidentiality agreement . . . with respect to such communications." Beginning in 2016, the company's template separation agreements with departing employees provided that former employees must notify the company of any requests from an administrative agency in connection with a report or complaint. More specifically, the provision permitted the former employees to make "truthful representations in connection with a report or complaint to an administrative agency (but only if [the employee] notif[ies] the Company of a disclosure obligation or request within one business day after[the employee] learn[s] of it and permit[s] the Company to take all steps it deems to be appropriate to prevent or limit the required disclosure)." In 2022, the company removed that language. Many of the agreements also stated that "[n]othing in this Release prevents me from . . . giving truthful testimony, or truthfully responding to a valid subpoena, or communicating or filing a charge with government or regulatory entities (such as the Equal Employment Opportunity Commission, National Labor Relations Board, Department of Labor, or Securities and Exchange Commission)." Although the SEC stated that it was "not aware of any specific instances in which a former Activision Blizzard employee was prevented from communicating with Commission staff about potential violations of securities laws or in which Activision Blizzard took action to enforce the notification clause or otherwise prevent such communications," the SEC nevertheless concluded that the language in the agreements "undermines the purpose of Section 21F and Rule 21F-17(a) to 'encourag[e] individuals to report to the Commission.'"The SEC determined that Activision Blizzard had violated the disclosure controls and procedures provision of Exchange Act Rule 13a-15(a), as well as the whistleblower protection provisions of Exchange Act Rule 21F-17(a). As a result, Activision Blizzard was required to pay a civil monetary penalty of $35 million.Peirce dissenting statement. As noted above, Commissioner Peirce dissented from the decision "because the Order does not articulate any securities law violations." According to Peirce, the SEC "alleges no fraud, misrepresentations, omissions, or investor harm. The settled enforcement action comes in the wake of public reports of rampant workplace misconduct at Activision Blizzard, which the Commission believes was not adequately tracked and reported to the people within the company responsible for SEC disclosures." She noted that the SEC also charged the company with "undermin[ing] the purpose of Section 21F and Rule 21F-17(a) to 'encourag[e] individuals to report to the Commission.'" She disagreed on both charges.While she viewed the reports of widespread workplace harassment, if accurate, to be "deeply concerning," it was, she observed, not the SEC's concern. In her view, the SEC's Order "contorts the securities laws to reach for a nexus, but never fully makes the connection." As she interpreted the Order, the SEC considered the company's risk factor regarding the importance of recruiting and retention of skilled personnel to require "the company to 'collect or analyze employee complaints of workplace misconduct.'" Peirce read the rule to require disclosure controls and procedures to apply only to "information that is required to be disclosed." However, she observed, in the Order, the SEC indicates that the required disclosure controls and procedures must also capture "an additional, vaguely defined category—information 'relevant' to a company's determination about whether a risk or other issue reaches the threshold where it is 'required to be disclosed.'"Quoting from the relevant risk factor, Peirce emphasized that the "Order nowhere claims that this disclosure was misleading, either by affirmative misstatement or by omission"; rather, the Order faults the company for lacking controls and failing to provide workplace misconduct-related information to management and the board. But was that data, among a multitude of factors, relevant to the disclosure regarding recruiting and retaining the workforce? The Order, she noted, did not "allege that workplace misconduct was in fact affecting worker retention and recruitment during the relevant time period." If it had been relevant, she suggests, you would expect the SEC to have determined that the disclosure was incomplete and misleading. But there was no such charge.Significantly, she saw no boundaries to the Order:"It is also difficult to see where the logic of this Order stops. When the SEC gets this granular, the limits are not clear. If workplace misconduct must be reported to the disclosure committee, so too must changes in any number of workplace amenities and workplace requirements, and so too must any multitude of factors relevant to other risk factors. The requirement cannot be that a company's disclosure controls and procedures must capture potentially relevant, but ultimately—for purposes of disclosure—unimportant information. As I read it, in this Order, the SEC once again has sat down at the gaming console to play its new favorite game 'Corporate Manager.' Using disclosure controls and procedures as its tool, it seeks to nudge companies to manage themselves according to the metrics the SEC finds interesting at the moment. For Activision Blizzard, today, that metric is workplace misconduct statistics, but other issues will follow. In this level of the enforcement game, the SEC has added $35,000,000 to its point total despite the Order not identifying any investor harm. For companies, though, setting up internal data tracking systems with an eye toward placating the SEC is not a game. It may distract management from collecting the data it actually needs to provide material information to investors and impose additional, unnecessary costs on investors who will not benefit from the company's collection of data points that the SEC highlights, but are not necessary for good disclosure at the particular company."Peirce also thought the Order "strain[ed] to read a violation into Activision Blizzard's separation agreements," but did not explain the violation—how communication was actually impeded. Although the separation agreements expressly stated that there was no prohibition on truthful representations to administrative agencies, she said, the Order treats the qualification to notify the company as sufficient to violate Rule 21F-17. Peirce, though, did "not believe that this is a fair reading of the separation agreement." How did that provision impede former employees from communicating with the SEC? The Order itself acknowledges that, to the SEC's knowledge, there were no instances of Activision Blizzard's attempting to enforce the notice requirement or of former employees who were prevented from communicating with SEC staff. In her view, "even if it were enforced, the notice requirement does not impede communication with the Commission for purposes of Rule 21F-17 because the requirement is about communications with the company, not communications with the Commission." Peirce did not believe that Rule 21F-17, "prohibit[ed] all actions that 'undermine' the statutory purpose by possibly discouraging reporting to the Commission; it prohibits taking actions to impede communications with the Commission. If we are to find a company in violation of a rule, we at least ought to articulate clearly both what conduct violated the rule and how it did so."The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Ms Cydney Posner +Cooley LLP +The Grace Building +1114 Avenue Of The Americas +New York +10036-7798 +UNITED STATES +E-mail: aorzehoski@cooley.com +URL: www.cooley.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/ATVI/2023.02.08/Activision aims to help UK regulator 'better understand our industry'.txt b/news/ATVI/2023.02.08/Activision aims to help UK regulator 'better understand our industry'.txt new file mode 100644 index 0000000000000000000000000000000000000000..b5b16c6ce254e06dd97a482533780b95b665bcdf --- /dev/null +++ b/news/ATVI/2023.02.08/Activision aims to help UK regulator 'better understand our industry'.txt @@ -0,0 +1 @@ +"These are provisional findings, which means the CMA sets forth its concerns in writing, and both parties have a chance to respond," a spokesperson said. "We hope between now and April we will be able to help the CMA better understand our industry to ensure they can achieve their stated mandate to promote an environment where people can be confident they are getting great choices and fair deals, where competitive, fair-dealing business can innovate and thrive, and where the whole UK economy can grow productively and sustainably." (Reporting by Paul Sandle; editing by William James) \ No newline at end of file diff --git a/news/ATVI/2023.02.08/Britain says Microsoft's Activision deal could harm gamers.txt b/news/ATVI/2023.02.08/Britain says Microsoft's Activision deal could harm gamers.txt new file mode 100644 index 0000000000000000000000000000000000000000..7b51def3a099d5a524b8c18c926f096851a74022 --- /dev/null +++ b/news/ATVI/2023.02.08/Britain says Microsoft's Activision deal could harm gamers.txt @@ -0,0 +1 @@ + (Reporting by Paul Sandle and Aby Jose Koilparambil; editing by Michael Holden) \ No newline at end of file diff --git a/news/ATVI/2023.02.08/Microsoft's Activision deal hurts gamers, UK watchdog says.txt b/news/ATVI/2023.02.08/Microsoft's Activision deal hurts gamers, UK watchdog says.txt new file mode 100644 index 0000000000000000000000000000000000000000..fe840f408a13af87bcf269fc53706f34fe80597e --- /dev/null +++ b/news/ATVI/2023.02.08/Microsoft's Activision deal hurts gamers, UK watchdog says.txt @@ -0,0 +1 @@ +LONDON (AP) — Microsoft’s stalled $68.7 billion deal to buy video game company Activision Blizzard has hit a fresh hurdle in the United Kingdom, where the antitrust watchdog said Wednesday that it will stifle competition and hurt gamers.Britain’s Competition and Markets Authority said its in-depth investigation found that the deal could strengthen Microsoft's position in the growing cloud gaming market, “harming U.K. gamers who cannot afford expensive consoles." In cloud gaming, players stream games on mobile phones and handheld devices they already own.The blockbuster deal also could hurt British gamers by “weakening the important rivalry” between Microsoft's Xbox console and Sony's rival PlayStation machines, the watchdog said in a provisional report.The all-cash deal, which is set to be the largest in the history of the tech industry, is facing opposition from Sony and pushback from regulators in the U.S. and Europe because it would give Microsoft control of popular game franchises such as Call of Duty, World of Warcraft and Candy Crush.“Our job is to make sure that U.K. gamers are not caught in the crossfire of global deals that, over time, could damage competition and result in higher prices, fewer choices, or less innovation," Martin Coleman, chair of the independent expert panel that carried out the investigation, said in a press release. “We have provisionally found that this may be the case here.”Microsoft's deputy general counsel, Rima Alaily, said the company is “committed to offering effective and easily enforceable solutions that address the CMA’s concerns.”Activision also said it hopes to “be able to help the CMA better understand our industry." In an internal email to employees, CEO Bobby Kotick said Activision looks forward to continuing constructive talks with regulators in Britain and the European Union, where a separate investigation is underway.“We are also confident that the law — and the facts — are on our side,” he said.The U.K. antitrust investigation is now set to drag on for a few more months, dashing Microsoft's hopes that a speedy favorable outcome could help it resolve a lawsuit brought by the U.S. Federal Trade Commission.But the fact that the U.K. didn't move to prohibit the deal leaves an opening to Microsoft for further negotiation, said William Kovacic, a former FTC chairman"The key thing in the decision is it invites further discussion about solutions,' said Kovacic, now a law professor at George Washington University.The British regulator said it will seek feedback, including possible options to address its competition concerns, from interested parties for its final report due April 26.The FTC has sought to block the deal, arguing that the merger could violate antitrust laws by suppressing competitors to Xbox and its growing game subscription business.Microsoft told the FTC’s administrative judge in January that it was working to resolve the U.K. investigation, as well as the EU probe, and hoped to bring back proposed remedies to U.S. regulators. But emboldened by President Joe Biden to take a tougher look at big mergers, the Democratic-led commission has shown little appetite for talks.“It helps the FTC enormously if another major competition authority in the world moves to ban the transaction and not accept a settlement,” Kovacic said.The Activision Blizzard deal is one of several regulatory hassles for Microsoft in Europe amid expanded scrutiny for Big Tech companies on both sides of the Atlantic over worries that they have become too dominant.One of the deal's flashpoints is Activision's hit video game Call of Duty. Sony has raised concerns about losing access to what it calls a “must-have” game title, while Microsoft has promised to make it available on all platforms.“Our commitment to grant long-term 100% equal access to  Call of Duty to Sony, Nintendo, Steam and others preserves the deal’s benefits to gamers and developers and increases competition in the market," Alaily said.The U.K. watchdog said options to ease its concerns include blocking the deal, selling off part of Activision's business or a so-called behavioral remedy such as an agreement to make popular games like Call of Duty available on other platforms, which it said would be less effective.It's not the first time the British watchdog has flexed its antitrust enforcement muscles over a Big Tech agreement. Last year, it blocked Facebook parent Meta's acquisition of GIF-sharing platform Giphy over competition concerns, forcing the social media company to unwind the deal.___AP Technology Writer Matt O'Brien in Bellevue, Washington contributed to this report.© 2023 The Canadian Press. All rights reserved., source Canadian Press DataFile \ No newline at end of file diff --git a/news/ATVI/2023.02.08/UK watchdog says Microsoft's Activision deal hurts gamers.txt b/news/ATVI/2023.02.08/UK watchdog says Microsoft's Activision deal hurts gamers.txt new file mode 100644 index 0000000000000000000000000000000000000000..17126b87cee5faace6678b6371f29a7dfdea3570 --- /dev/null +++ b/news/ATVI/2023.02.08/UK watchdog says Microsoft's Activision deal hurts gamers.txt @@ -0,0 +1 @@ +LONDON (AP) — Microsoft’s stalled $68.7 billion deal to buy video game company Activision Blizzard has hit a fresh hurdle in the United Kingdom, where the antitrust watchdog said Wednesday that it will stifle competition and hurt gamers.Britain’s Competition and Markets Authority said its in-depth investigation found that the deal could strengthen Microsoft's position in the growing cloud gaming market, “harming U.K. gamers who cannot afford expensive consoles." In cloud gaming, players stream games on mobile phones and handheld devices they already own.The blockbuster deal also could hurt British gamers by “weakening the important rivalry” between Microsoft's Xbox console and Sony's rival PlayStation machines, the watchdog said in a provisional report.The all-cash deal, which is set to be the largest in the history of the tech industry, is facing opposition from Sony and pushback from regulators in the U.S. and Europe because it would give Microsoft control of popular game franchises such as Call of Duty, World of Warcraft and Candy Crush.“Our job is to make sure that U.K. gamers are not caught in the crossfire of global deals that, over time, could damage competition and result in higher prices, fewer choices, or less innovation," Martin Coleman, chair of the independent expert panel that carried out the investigation, said in a press release. “We have provisionally found that this may be the case here.”Microsoft's deputy general counsel, Rima Alaily, said the company is “committed to offering effective and easily enforceable solutions that address the CMA’s concerns.”Activision also said it hopes to “be able to help the CMA better understand our industry." In an internal email to employees, CEO Bobby Kotick said Activision looks forward to continuing constructive talks with regulators in Britain and the European Union, with the 27-nation bloc also investigating the deal.“We are also confident that the law — and the facts — are on our side,” he said.The U.K. antitrust investigation is now set to drag on for a few more months, dashing Microsoft's hopes that a speedy favorable outcome could help it resolve a lawsuit brought by the U.S. Federal Trade Commission.The British regulator said it will seek feedback, including possible options to address its competition concerns, from interested parties for its final report due April 26.The FTC has sought to block the deal, arguing that the merger could violate antitrust laws by suppressing competitors to Xbox and its growing game subscription business.Microsoft told the FTC’s administrative judge in January that it was working to resolve the U.K. investigation, as well as the separate EU probe, and hoped to bring back proposed remedies to U.S. regulators.The Activision Blizzard deal is one of several regulatory hassles for Microsoft in Europe amid expanded scrutiny for Big Tech companies on both sides of the Atlantic over worries that they have become too dominant.One of the deal's flashpoints is Activision's hit video game Call of Duty. Sony has raised concerns about losing access to what it calls a “must-have” game title, while Microsoft has promised to make it available on all platforms.“Our commitment to grant long-term 100% equal access to  Call of Duty to Sony, Nintendo, Steam and others preserves the deal’s benefits to gamers and developers and increases competition in the market," Alaily said.The U.K. watchdog said options to ease its concerns include blocking the deal, selling off part of Activision's business or a so-called behavioral remedy such as an agreement to make popular games like Call of Duty available on other platforms, which it said would be less effective.It's not the first time the British watchdog has flexed its antitrust enforcement muscles over a Big Tech agreement. Last year, it blocked Facebook parent Meta's acquisition of GIF-sharing platform Giphy over competition concerns, forcing the social media company to unwind the deal.AP Technology Writer Matt O'Brien in Providence, R.I., contributed to this report.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/ATVI/2023.02.08/World Press Review: February 8.txt b/news/ATVI/2023.02.08/World Press Review: February 8.txt new file mode 100644 index 0000000000000000000000000000000000000000..d06887c245ee8910025510b2bc4d1f2709f59e05 --- /dev/null +++ b/news/ATVI/2023.02.08/World Press Review: February 8.txt @@ -0,0 +1,4 @@ + +TotalEnergies, Société Générale, Barratt Developments, Ashmore, Maersk, Equinor, Carlsberg, Siemens Gamesa, Siemens Energy, Ionos, Monte dei Paschi, Ebay, Zoom, Chipotle Mexican Grill, Microsoft vs Google, Omnicom, Activision Blizzard + + diff --git a/news/ATVI/2023.02.09/Activision Blizzard takeover could harm gaming market, CMA warns.txt b/news/ATVI/2023.02.09/Activision Blizzard takeover could harm gaming market, CMA warns.txt new file mode 100644 index 0000000000000000000000000000000000000000..7e452a6108876293a3c0cbd334f177c037df64f3 --- /dev/null +++ b/news/ATVI/2023.02.09/Activision Blizzard takeover could harm gaming market, CMA warns.txt @@ -0,0 +1 @@ +MICROSOFT's proposed acquisition of gaming firm Activision Blizzard could result in higher prices, fewer choices or less innovation for UK gamers, the Competition and Markets Authority (CMA) has said.In the provisional findings of its five-month investigation into the $68.7bn (£56.7bn) deal, the CMA said the merger could make Microsoft stronger, stifle competition and harm the rivalry between its Xbox console and Sony's Playstation.Activision Blizzard is the maker of a number of popular video games series, including Call Of Duty, and rivals have raised concerns that Microsoft taking over Activision could see their access to the popular franchise restricted - somethingMicrosoft has denied.In response, Microsoft's corporate vice president and deputy general counsel, Rima Alaily, said: "We are committed to offering effective and easily enforceable solutions that address the CMA's concerns. "Seventy-five per cent of respondents to the CMA's public consultation agree that this deal is good for competition in UK gaming."PA(c) 2023 City A.M., source Newspaper \ No newline at end of file diff --git a/news/ATVI/2023.02.14/Berkshire reduces stake in Activision Blizzard, BNY Mellon.txt b/news/ATVI/2023.02.14/Berkshire reduces stake in Activision Blizzard, BNY Mellon.txt new file mode 100644 index 0000000000000000000000000000000000000000..c1fde0225c93b5fa383d54ae34c1a301ed62a4e2 --- /dev/null +++ b/news/ATVI/2023.02.14/Berkshire reduces stake in Activision Blizzard, BNY Mellon.txt @@ -0,0 +1 @@ +The move by Berkshire comes as Microsoft Corp makes efforts to conclude its acquisition of Activision Blizzard, maker of the "Call of Duty" video game. On Feb. 21, Microsoft will defend the deal in front of European Union and national antitrust officials at a closed hearing.Berkshire reduced its stake in Activision Blizzard by 12.35%, and now holds a 6.7% stake, or 52,717,075 shares, according to the filing.Berkshire also trimmed its stake in BNY Mellon by roughly 60% in the last quarter, to 25.1 million shares. At current prices, it represents roughly $2 billion in shares of the bank sold.On Apple, Buffett's company bought another 20.8 million shares, or $3.2 billion, bringing his stake to 5.8% in Apple, which Buffett considers more as a consumer products company, according to the filing. (Reporting by Carolina Mandl in New York; editing by Jonathan Oatis and Leslie Adler)By Carolina Mandl and Sittrarasu S \ No newline at end of file diff --git a/news/ATVI/2023.02.14/Microsoft to defend Activision deal at EU hearing on Feb. 21.txt b/news/ATVI/2023.02.14/Microsoft to defend Activision deal at EU hearing on Feb. 21.txt new file mode 100644 index 0000000000000000000000000000000000000000..d60daa03e150b0f4fbad03c75610d91d522d6469 --- /dev/null +++ b/news/ATVI/2023.02.14/Microsoft to defend Activision deal at EU hearing on Feb. 21.txt @@ -0,0 +1 @@ +The company asked for the hearing after receiving a statement of objections from the European Commission warning about the possible anti-competitive effects of the deal.A Microsoft spokesperson confirmed the oral hearing.The Xbox maker announced the Activision Blizzard acquisition in January last year to help it compete better with leaders Tencent and Sony, but has run into regulatory headwinds in Europe, Britain and the United States.Microsoft is expected to offer remedies after the hearing. It has reached a 10-year deal with Nintendo to make "Call of Duty" available on Nintendo consoles, a remedy aimed at convincing competition enforcers but which has been criticised by Sony, which wants the deal to be blocked. (Reporting by Foo Yun Chee; Editing by David Holmes)By Foo Yun Chee \ No newline at end of file diff --git a/news/ATVI/2023.02.14/SEC's ESG Task Force Strikes Again.txt b/news/ATVI/2023.02.14/SEC's ESG Task Force Strikes Again.txt new file mode 100644 index 0000000000000000000000000000000000000000..fd8e939ae3952d254234b8fe4d284d418ad73b78 --- /dev/null +++ b/news/ATVI/2023.02.14/SEC's ESG Task Force Strikes Again.txt @@ -0,0 +1,13 @@ +Activision Blizzard Workplace Misconduct Allegations Transformed into Securities ViolationsIn another victory for the Securities and Exchange Commission's (SEC) Climate and ESG Task Force, videogame developer Activision Blizzard Inc. (Activision) agreed on February 3, 2023 to a $35 million no-admit, no-deny settlement with the SEC for alleged governance deficiencies between 2016 and 2021. File No. 3-21294. The SEC alleged that Activision failed to maintain disclosure controls and procedures to ensure complaints of workplace misconduct were communicated timely to the Company's disclosure personnel, and also that the Company violated SEC whistleblower protection rules in its separation agreements with former employees.The SEC first charged Activision with violating Exchange Act Rule 13a-15(a), which requires certain issuers of securities to maintain controls and procedures to ensure that disclosures are adequate. 17 C.F.R. § 240.13a-15(a). In addition to extensive financial disclosures, business risk factors also must be disclosed by issuers. According to the SEC, Activision's periodic financial reports from 2018 to 2021 identified its ability to "attract, retain, and motivate skilled employees" as a material risk to its business. The SEC alleged that the Company had not established controls and procedures to collect or analyze employee complaints of workplace misconduct for disclosure purposes. Therefore, the lack of controls and procedures prevented Activision from assessing whether misconduct allegations were sufficiently material to warrant specific disclosure to investors.The SEC also charged Activision with violating Section 21F-17 of the Dodd Frank Act, which was designed to encourage whistleblowers to report possible securities law violations. The Section mandates that "[n]o person may take any action to impede an individual from communicating directly with the Commission staff about a possible securities law violation, including enforcing, or threatening to enforce, a confidentiality agreement . . . with respect to such communications." 17 C.F.R. § 240.21F-17. According to the SEC, in 2016, Activision began to use separation agreements that required employees to notify the Company one business day prior to speaking with an administrative agency regarding a report or complaint. The separation agreement clarified that this notification requirement did not prohibit truthful disclosures to an administrative agency. Despite that clarification, the SEC alleged that the requirement to notify the Company prior to any communication with an administrative agency undermined the purpose of Rule 21F-17, impeding former employees from communicating with the SEC about potential securities law violations.According to the SEC's order announcing the settlement, the Company has since remediated these alleged deficiencies by implementing structural changes and policies to facilitate greater compliance with disclosure requirements and removing the notification clause from its separation agreements.The SEC originally opened its investigation into the Company in September 2021 following a summer of accusations of sexual misconduct, harassment, and workplace discrimination that culminated in a walkout and protest by Activision employees. Although the SEC is traditionally tasked with enforcing the nation's securities laws, this recent settlement demonstrates the Commission's exceptionally broad interpretation of "securities laws" and increasing willingness to investigate and charge alleged violations of all "ESG" elements, not just the environmental disclosures that have attracted the most public scrutiny.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Ms Johnjerica Hodge +Katten Muchin Rosenman LLP +525 West Monroe Street +Suite 1600 +Chicago +IL 60661 +UNITED STATES +Tel: 3125778469 +Fax: 3125774678 +E-mail: brook.radford@katten.com +URL: www.kattenlaw.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/ATVI/2023.02.14/Saudi Arabia's PIF says U.S. stocks value falls nearly $6 billion in fourth quarter.txt b/news/ATVI/2023.02.14/Saudi Arabia's PIF says U.S. stocks value falls nearly $6 billion in fourth quarter.txt new file mode 100644 index 0000000000000000000000000000000000000000..a4f3a91774106cd36c7455456088eb4467dcb7e4 --- /dev/null +++ b/news/ATVI/2023.02.14/Saudi Arabia's PIF says U.S. stocks value falls nearly $6 billion in fourth quarter.txt @@ -0,0 +1 @@ +PIF, which already owned more than 60% of Lucid, bought more than 93.75 million shares in the carmaker in the third quarter, according to Reuters calculations based on the U.S. filing. That was equivalent to roughly 5.6% of Lucid shares, according to calculations based on Refinitiv data.PIF's stake in Lucid, despite increasing, nearly halved in value to $7.57 billion at the end of December from $14.18 billion three months earlier, the filing showed.Shares of Lucid, which plans to build its first overseas factory in Saudi Arabia, were down 51% in the fourth quarter.PIF, at the centre of Saudi Arabia's ambitious plans to diversify the economy away from oil, invested over $1 billion in Lucid in 2018.Building electric vehicles is part of the kingdom's push to create new industries and jobs.Last year Saudi Arabia signed a deal with Lucid to buy up to 100,000 of its cars over the following decade.PIF cut its holding in online luxury shopping retailer Farfetch shares by 36.5% and the value of its holding decreased by about $14.7 million in the fourth quarter, the filing showed.It also bought more than 39,000 additional shares in "Call of Duty" maker Activision Blizzard and the value of its stake rose nearly $86.7 million.The value of PIF's stake in Uber fell by nearly $129 million, the filing showed. (Reporting by Yousef Saba; Editing by Mike Harrison)By Yousef Saba \ No newline at end of file diff --git a/news/ATVI/2023.02.15/Berkshire boosts Apple stake, dumps TSMC.txt b/news/ATVI/2023.02.15/Berkshire boosts Apple stake, dumps TSMC.txt new file mode 100644 index 0000000000000000000000000000000000000000..cd8b0bd383486ae68a277183d57deb67d8428821 --- /dev/null +++ b/news/ATVI/2023.02.15/Berkshire boosts Apple stake, dumps TSMC.txt @@ -0,0 +1 @@ +All the while bolstering its holdings in Apple.According to a regulatory filing, Berkshire cut its position in TSMC, the world's largest contract chipmaker, by just over 86% in the fourth quarter.It comes just three months after the conglomerate unveiled it had bought more than $4.1 billion worth of TSMC stock.Such a turnaround is rare for Berkshire but not unprecedented.TSMC last month said revenue in the first quarter is likely to dip 5% as it weathers a global downturn in the chip industry.Berkshire also divested its shares in some banks,and trimmed some positions across its portfolio of U.S. listed companies.Those to face the chop include Chevron and Activision Blizzard - the maker of the "Call of Duty" video game.Microsoft is trying to acquire the video game maker but is facing regulatory scrutiny.Apple was among Berkshire's few additions, which Buffett views more as a consumer products company. Berkshire bought another 20.8 million shares of the firm worth $3.2 billion.Shares in Apple have surged nearly 18% since the start of the year. \ No newline at end of file diff --git a/news/ATVI/2023.02.15/Let the dust settle.txt b/news/ATVI/2023.02.15/Let the dust settle.txt new file mode 100644 index 0000000000000000000000000000000000000000..ed5554c3e3001e49dd3b10eac1f981e20af7a5f8 --- /dev/null +++ b/news/ATVI/2023.02.15/Let the dust settle.txt @@ -0,0 +1,30 @@ + +Nothing is ever certain in finance and yesterday's session was a good illustration of this. Investors were waiting for the January inflation figures in the US to adjust their strategies, with two dominant and probably a bit simplistic scenarios. Well, it's a bit easy to say after the fact, but it comes down to this. Either inflation continues to fall without too many bumps in the road, allowing the bullish party to continue. Or inflation continues to bite a little too hard and the equity markets take the hit. That's the theory. In practice, inflation figures have been a little more worrying than expected, and equity markets have been rising. Well, rather disparate performances, but still a gain of 0.7% for the Nasdaq, the index most sensitive to the path of monetary policy, and therefore to the indications provided by inflation. The Nasdaq fluctuated a lot, but ended up almost at its highs for the session. It should be noted that it was not imitated by the Dow Jones (-0.46%) and that the S&P500 failed to rise (-0.03%). The same confusion in Europe with small increases in Paris, London and Zurich and slight decreases in Frankfurt, Stockholm and Brussels. +Consumer prices in the United States rose as expected between December and January, mainly due to seasonal factors. At this point, the financial community seems to view this as a minor blip on the road to a decline in price increases. In a sense, the statistic has not invalidated the prevailing narrative that the Fed is near the end of its rate hike cycle. But it probably added some weight to the theory that rates will remain at their current high level for longer than the markets currently expect.. However, this does not necessarily upset investors, who fear uncertainty about the path of rates more than rates themselves... especially as they approach the peak. The bond market, which is more subtle than the stock market when it comes to making monetary predictions, became a little tense yesterday on the announcement of US inflation, but without excess. The yield on 10-year U.S. debt rose to 3.74%, which is almost a non-event. +In other news, Joe Biden has named, as rumors suggested, Fed Vice Chair Lael Brainard as his chief economic advisor. She is therefore leaving the central bank. The litany of corporate results continues with since yesterday evening the figures of Carrefour, Vinci, Airbnb, Kering, Nexans, Heineken, Barclays, Ahold Delhaize and many other listed companies. The session will also be marked by a new series of macroeconomic indicators in the United States, which will refine the reading of inflation from the previous day. In particular, we will have to follow the January retail sales at 8:30 am. In China, the central bank left its one-year rate unchanged while injecting liquidity to meet increased demand for financing. Strangely, the Chinese recovery has been off the radar for a few days, even though it was a driving force behind the awakening of the equity markets. +In Asia Pacific this morning, we are more cautious than in the United States. The Nikkei 225 is down 0.37% in Japan, while the Korean KOSPI is down a hefty 1.53%. Even the Australian ASX200 index is down more than 1%. China is also doing poorly, especially the Hang Seng, which is down 1.3% and is now down more than 10% from its January peak. Regularly against the tide, India grabs a few points. +Economic highlights of the day: +In the United States, the Empire Manufacturing index for February and the retail sales for January will be announced at 8:30 am, before the industrial production for January at 9:15 am. At 10:00 am, the NAHB house price index for February and business inventories will be released. All the agenda here. +The dollar is back up to 0.9330 EUR. Gold is trading at 1834 USD per ounce. Oil is losing ground, with North Sea Brent crude at USD 85.05 a barrel and US WTI light crude at USD 78.65. The yield on 10-year US debt is climbing back to 3.74%. Bitcoin is climbing back up to USD 22,400. + +In corporate news: + +* TSMC was down 6% in pre-market trading as Berkshire Hathaway cut its stake in the Taiwanese chipmaker by 86.2%. Warren Buffett's investment firm also sold shares in US Bancorp, Bny Mellon, Chevron, Activision Blizzard and Kroger but increased its stake in Apple. +* Airbnb expects to report higher-than-consensus revenue for the current quarter, thanks to strong demand and tight control of its expenses. The short-term accommodation rental platform was gaining more than 9% in pre-market trading + +Analyst recommendations: + +Akamai Technologies: RBC Capital Markets cut the recommendation to sector perform from outperform. PT set to $85. +Dick's Sporting Goods: Loop Capital Markets initiated coverage with a recommendation of hold. Price target set to $130. +Ecolab: RBC Capital Markets raised the recommendation to outperform from sector perform. PT set to $185, implies a 17% increase from last price. +Entegris: Needham & Co raised the target to $100 from $86. Maintains buy rating. +IPG Photonics: Stifel raised the target to $145 from $110. Maintains buy rating. +Prudential: DBS Bank initiated coverage with a recommendation of buy. PT upgrades 34% to 1,732 pence. +Rogers: B Riley Securities initiated coverage with a recommendation of buy. Price target increases 22% to $180. +Southwest Airlines: Melius Research downgrades to hold from buy. PT set to $39. +TD Synnex: Barclays set price target to $109 with a recommendation of equal-weight. +TE Connectivity: Stifel cut the recommendation to hold from buy. PT set to $130. +Terex: Citi downgrades to neutral from buy. Price target set to $63. + Wesco International: RBC Capital Markets raised the target to $200 from $163. Maintains outperform rating. + + diff --git a/news/ATVI/2023.02.15/World Press Review: February 15.txt b/news/ATVI/2023.02.15/World Press Review: February 15.txt new file mode 100644 index 0000000000000000000000000000000000000000..28e60aae604f9094c23f047cf547d32671ef2785 --- /dev/null +++ b/news/ATVI/2023.02.15/World Press Review: February 15.txt @@ -0,0 +1,4 @@ + +Kering, Heineken, Barclays, Glencore, LVMH, SAS, Airbus, Boeing, Berkshire Hathaway, Activision Blizzard, Microsoft, TSMC (Taiwan Semiconductor Manufacturing Company), U.S. Bancorp, BNY Mellon, Ally Financial, Chevron, McKesson Corp, Kroger, Apple, Louisiana-Pacific, Paramount Global, TripAdvisor, Airbnb, Reddit, Tesla, Starbucks, Ford  + + diff --git a/news/ATVI/2023.02.16/In Weightlessness.txt b/news/ATVI/2023.02.16/In Weightlessness.txt new file mode 100644 index 0000000000000000000000000000000000000000..65994071205a3a15e3a0d297516a64a1e165d36d --- /dev/null +++ b/news/ATVI/2023.02.16/In Weightlessness.txt @@ -0,0 +1,34 @@ + +You get used to anything, even higher interest rates. This has been the message sent by the financial markets since the beginning of the year. We are currently witnessing what lawyers would probably call a form of reversal of the burden of proof. Until the end of last year, everything was going badly, until proven otherwise. Well, now everything is better, until proven otherwise. The change is important because it means looking at the positive side of a mixed indicator, instead of the dark side. This week illustrates this very well. In 2022, the combination of slightly less favorable than expected inflation numbers (that was Tuesday) with a healthy consumer sentiment and an improving housing market (that was yesterday) would have probably led investors to consider further rate hikes. This would have made them deeply depressed. Remember, there is little that financiers hate more than restrictive monetary policies. +But in 2023, no one cares. In January, stocks had ridden the wave of a sharper-than-expected slowdown in inflation, which confirmed that the U.S. central bank's rate-raising cycle would soon end. This was quite logical. All that was missing was a slightly more adverse context to test the strength of the recovery. This more adverse context materialized in February, with less unambiguous statistics and an unresolved dilemma at this stage: is it better to have strong growth and some fears about a Fed that might be even more punitive, or faltering growth that would push the Fed to return to a more flexible monetary policy? But what is important here is that the market is saying: the dilemma is not clear-cut, but both situations are ultimately acceptable if the published data remain within reasonable limits, they do not require a radical response such as a forceful rate hike as was the case a year ago. This feeling is reinforced by the non-materialization of the extreme scenarios that had been envisaged, in particular an energy cataclysm in Europe and an out-of-control coronavirus in China after the end of the zero-covid policy. +Coming back to concrete things, the US macroeconomic statistics published yesterday show that strategic parts of the economy are still strong, even if industrial production was a bit weak. Initially, this affected the indexes in the aforementioned pattern. But like the day before, they ended fairly close to their highs. In the United States, the Nasdaq 100 continued to rise, gaining 0.8%, well ahead of the S&P 500 (+0.3%). In Europe, green dominated everywhere, especially on the French CAC40, which recovered 1.2%, boosted by its large caps in luxury and industry. An American media (Bloomberg I think, I forgot where I read it) pointed out that the index compiled by Goldman Sachs to gauge investors' risk appetite based on the track record of unprofitable technology companies is at +30% since January 1st. The Nasdaq 100 is up nearly 16%. +Meanwhile, the bond market is once again looking at higher rates and/or longer, but without dampening sentiment. The US 10-year touched 3.8% yesterday, its highest level of the year. The yield curve is still inverted, which is historically a signal of recession. But one can sense that investors seem ready to put this gloomy prediction in the curiosity cupboard, along with the aforementioned energy cataclysm in Europe and the out-of-control coronavirus in China. Today, a new set of statistics from the US to test the strength of the mood I have just tried to paint. With the necessary caution, since we know that the pendulum effect is powerful on the equity markets. +Economic highlights of the day: +At 8:30 am in the United States, the market will mainly follow the producer prices and to a lesser extent the Philly Fed index, the weekly unemployment figures and the data on housing starts and building permits. All the agenda here. This morning, Japan reported an acceleration in exports in January, while economists had feared a contraction. +The dollar is trading at 0.9342 EUR and 0.8299 GBP. The ounce of gold remains positioned around 1836 USD. Oil is rebounding, with North Sea Brent crude at USD 85.57 a barrel and U.S. light crude WTI at USD 78.81. The yield on 10-year US debt tightens to 3.78%. Bitcoin jumps to USD 24,550. + +In corporate news: + +* Cisco Systems jumped 6% in after-hours trading as the networking equipment specialist raised its full-year profit growth forecast on Wednesday after strong quarterly results. +* Tesla has sold all of its Model Y inventory scheduled for this quarter in the U.S. market and nothing is expected until April. The company will also open part of its U.S. charging network to competitors' vehicles as part of a $7.5 billion government program to boost electric car use and lower carbon emissions. +* Ford Motor is down 0.7% in premarket trading after announcing an extension at least until the end of next week of the production suspension of its F-150 electric vehicle, which is facing battery problems. +* Roku jumped 10.2% in premarket trading after announcing a first-quarter revenue forecast that beat Wall Street expectations and a commitment to reduce its costs. +* Lockheed Martin and Raytheon Technologies - China's Ministry of Commerce announced Thursday that it had placed the two U.S. groups on a "list of unreliable entities" after arms sales to Taiwan. +* Baker Hughes - Piper Sandler raised its recommendation to "overweight" from "neutral".  + + +Analyst recommendations: + +Activision Blizzard: Deutsche Bank raised the recommendation to buy from hold. PT up 16% to $90. +Eli Lilly: Societe Generale cut the recommendation to sell from hold. Price target decreases 19% to $278. +Idexx Laboratories: Piper Sandler maintains overweight rating. Price target up to $600 from $500. +Inchcape: Citi initiated coverage with a recommendation of buy. PT set to 1,131 pence +Marathon Oil: Benchmark Company moved to buy from hold. Price target set to $32. +Nvidia: DZ Bank cut the recommendation to sell from buy. Price target downgrades to $195. +Pegasystems: Truist Securities maintains hold rating. PT up to $45 from $40. +Roku: Benchmark Company raised the target to $89 from $65. Maintains buy rating. +Seagen: Raymond James raised the recommendation to strong buy from outperform. PT up 23% to $175. +Smith & Nephew: Liberum initiated coverage with a recommendation of hold. PT set to 1,120 pence. +Upstart Holdings: Loop Capital Markets raised the recommendation to buy from hold. PT up 42% to $24. +Zillow Group: Benchmark Company upgrades price target to $60 from $52. + diff --git a/news/ATVI/2023.02.21/Microsoft inks Nvidia game deal to assuage regulators over Activision merger.txt b/news/ATVI/2023.02.21/Microsoft inks Nvidia game deal to assuage regulators over Activision merger.txt new file mode 100644 index 0000000000000000000000000000000000000000..b9cf2bab8a0fdf5ea284312d4ae10a728f8430ee --- /dev/null +++ b/news/ATVI/2023.02.21/Microsoft inks Nvidia game deal to assuage regulators over Activision merger.txt @@ -0,0 +1,52 @@ +BRUSSELS, Feb 21 (Reuters) - Microsoft Corp has +struck a 10-year deal to bring "Call of Duty" and other +Activision games to Nvidia Corp's gaming +platform if the Xbox maker is allowed to complete its +much-contested $69 billion acquisition of Activision.Regulators and competitors like Sony have come out hard +against the proposed Microsoft-Activision tie-up. The move may +allay concerns by ensuring more ways for consumers to get games +controlled by Microsoft, but regulators around the world have +been skeptical about the acquisition.Britain earlier this month said the deal could harm gamers +by weakening the rivalry between Xbox and PlayStation, resulting +in higher prices, fewer choices and less innovation for millions +of players, as well as stifling competition in cloud gaming.Microsoft President Brad Smith told a news conference on +Tuesday he was now more optimistic of getting the Activision +acquisition done after the Nvidia deal and a similar arrangement +with Nintendo Co Ltd.Phil Eisler, vice president and general manager of Nvidia's +GeForce Now segment, said that titles such that "Call of Duty" +will not be available on Nvidia's service unless Microsoft +acquires Activision but that other Microsoft-owned titles such +as "Minecraft" are covered immediately under the 10-year license +agreement."We were a little concerned about it at the beginning," +Eisler said of the Microsoft-Activision deal. "But then we +reached out to Microsoft, and they were very open about wanting +to enable cloud gaming and work with us on a 10-year license +agreement. So over time, they made us more and more comfortable +with it."Eisler said Nvidia is not paying Microsoft for access to the +titles, which is the same arrangement the company has with other +gaming companies such as "Fortnite" maker Epic Games. Instead, +Nvidia's 25 million customers will need to pay Nvidia for access +to its cloud gaming platform and pay Microsoft for its games.Shares of Microsoft fell 2%, Nvidia dropped 3.4% and +Activision fell 0.7% in a broadly lower market on Tuesday +afternoon.Nvidia said it now supports the Xbox maker's bid to purchase +Activision, but the deal could still be a hard sell with +regulators. European officials issued Microsoft a warning about +the deal earlier this month, while the U.S. Federal Trade +Commission has asked a judge to block it. The British +competition watchdog has said Microsoft may have to divest "Call +of Duty."Smith said he hoped that rival Sony Group Corp will +consider doing the same type of deal with Nvidia.Sony has led opposition to the Microsoft-Activision deal, +saying last year it was "bad for competition, bad for the gaming +industry and bad for gamers themselves."Apart from Sony and Nvidia, other companies including +Alphabet Inc's Google had expressed concerns to the +FTC about the deal, according to media reports.Microsoft has pledged to keep "Call of Duty" on Sony's +PlayStation. The popularity of the first-person shooter +franchise is undimmed nearly two decades after launch, with the +latest installment achieving $1 billion sales in its first 10 +days in October.The U.S. tech giant has said the deal is about more than +"Call of Duty." It has said buying the company that also makes +"Overwatch" and "Candy Crush" would charge its growth in mobile, +PC, and cloud gaming, as well as consoles, helping it compete +with the likes of Tencent as well as Sony.(Reporting by Foo Yun Chee in Brussels and Stephen Nellis in +San Francisco; Editing by Peter Henderson, Matthew Lewis and +Bradley Perrett) \ No newline at end of file diff --git a/news/ATVI/2023.02.21/Microsoft makes case for Activision merger amid EU scrutiny.txt b/news/ATVI/2023.02.21/Microsoft makes case for Activision merger amid EU scrutiny.txt new file mode 100644 index 0000000000000000000000000000000000000000..fcda6256e29088c9684c32e756d05fd0a4a13570 --- /dev/null +++ b/news/ATVI/2023.02.21/Microsoft makes case for Activision merger amid EU scrutiny.txt @@ -0,0 +1 @@ +BRUSSELS (AP) — Microsoft's Xbox video game division on Tuesday announced new partnerships with Nintendo and chipmaker Nvidia as it tries to persuade European regulators to approve its planned $68.7 billion takeover of game publishing giant Activision Blizzard.A key audience for the announcements were the European Union antitrust regulators who held a closed-door meeting Tuesday with executives from Microsoft and some of its competitors, including Sony and Google.Microsoft announced a 10-year agreement with chipmaker Nvidia to bring Xbox games to Nvidia's cloud gaming service. Microsoft also said it has now signed a similar deal with Nintendo, formalizing a commitment it revealed late last year.What it does not have is an agreement with Xbox's chief rival, PlayStation-maker Sony, which has sought to convince antitrust regulators around the world to stop the Activision Blizzard merger.The all-cash deal, which is set to be the largest in the history of the tech industry, faces pushback from regulators in the U.S. and Europe because it would give Microsoft control of popular game franchises such as Call of Duty, World of Warcraft and Candy Crush.The European Commission, the 27-nation bloc’s executive arm, has been investigating whether the merger would distort fair competition to popular Activision Blizzard game titles. It's scheduled to make a decision by March 23.Microsoft first announced the agreement to buy the California-based game publisher early last year, but the takeover has also been stalled in the U.S., where the Federal Trade Commission has sued to block the deal, and in Britain, where an antitrust watchdog's provisional report said it will stifle competition and hurt gamers.Microsoft, which is based in Redmond, Washington, has been counting on getting approval in either the EU or Britain to help advance its case in the U.S.Microsoft's president, Brad Smith, said at a Brussels news conference after meeting with regulators Tuesday that he was “not in a position to say exactly what was said in the hearing room” but emphasized that Xbox has a much smaller share of the market than PlayStation does in Europe, and asserted that the deal would be good for the industry by bringing more games to more people.“For us at Microsoft, this has never been about spending $69 billion so that we could acquire titles like Call of Duty and make them less available to people,” Smith said. “That’s actually not a great way to turn a $69 billion asset into something that will become more valuable over time.”Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git "a/news/ATVI/2023.02.21/Microsoft president brad smith says if activision deal is appro\342\200\246.txt" "b/news/ATVI/2023.02.21/Microsoft president brad smith says if activision deal is appro\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..461b1b0695edf0197ec9e26977f2fb3bc7d34400 --- /dev/null +++ "b/news/ATVI/2023.02.21/Microsoft president brad smith says if activision deal is appro\342\200\246.txt" @@ -0,0 +1 @@ +MICROSOFT PRESIDENT BRAD SMITH SAYS IF ACTIVISION DEAL IS APPROVED BY REGULATORS, ACTIVISION'S CALL OF DUTY WILL BE AVAILABLE ON NVIDIA'S PLATFORM \ No newline at end of file diff --git "a/news/ATVI/2023.02.21/Microsoft president brad smith says regulators thinking about b\342\200\246.txt" "b/news/ATVI/2023.02.21/Microsoft president brad smith says regulators thinking about b\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..10edd56c56002f459c7da93f24c7f146ceddf28f --- /dev/null +++ "b/news/ATVI/2023.02.21/Microsoft president brad smith says regulators thinking about b\342\200\246.txt" @@ -0,0 +1 @@ +MICROSOFT PRESIDENT BRAD SMITH SAYS REGULATORS THINKING ABOUT BLOCKING ACTIVISION DEAL SHOULD THINK ABOUT SONY'S 80% MARKET SHARE \ No newline at end of file diff --git "a/news/ATVI/2023.02.21/Microsoft president brad smith says more optimistic about gettin\342\200\246.txt" "b/news/ATVI/2023.02.21/Microsoft president brad smith says more optimistic about gettin\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..b41f718aed3df6a76e79df49543e8e33fdb5c497 --- /dev/null +++ "b/news/ATVI/2023.02.21/Microsoft president brad smith says more optimistic about gettin\342\200\246.txt" @@ -0,0 +1 @@ +MICROSOFT PRESIDENT BRAD SMITH SAYS MORE OPTIMISTIC ABOUT GETTING ACTIVISION DEAL DONE BECAUSE OF LICENSING DEALS WITH SONY, NVIDIA \ No newline at end of file diff --git "a/news/ATVI/2023.02.21/Microsoft president brad smith says nvidia supports microsoft's\342\200\246.txt" "b/news/ATVI/2023.02.21/Microsoft president brad smith says nvidia supports microsoft's\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..b2a995b08f801a52b59445d079598bd920561856 --- /dev/null +++ "b/news/ATVI/2023.02.21/Microsoft president brad smith says nvidia supports microsoft's\342\200\246.txt" @@ -0,0 +1 @@ +MICROSOFT PRESIDENT BRAD SMITH SAYS NVIDIA SUPPORTS MICROSOFT'S ACQUISITION OF ACTIVISION \ No newline at end of file diff --git a/news/ATVI/2023.02.21/Microsoft president says he has Activision licensing deal with Nvidia.txt b/news/ATVI/2023.02.21/Microsoft president says he has Activision licensing deal with Nvidia.txt new file mode 100644 index 0000000000000000000000000000000000000000..c279fc340ae8bf3f1ab87f30984327aaff24652d --- /dev/null +++ b/news/ATVI/2023.02.21/Microsoft president says he has Activision licensing deal with Nvidia.txt @@ -0,0 +1 @@ +Smith told a news conference he was now more optimistic of getting the Activision acquisition done after the Nvidia licensing deal as well as a similar arrangement with Nintendo.Smith also said Nvidia supports the Xbox maker's bid to purchase Activision, which has come under scrutiny by antitrust regulators in the United States and Europe. European officials issued Microsoft a warning about the deal earlier this month, while the U.S. Federal Trade Commission has asked a judge to block the deal.Nvidia said in a press statement that it has struck a 10- year deal with Microsoft to immediately start work on integrating Xbox games into its GeForce Now streaming games service, which has 25 million users in more than 100 countries. (Reporting by Foo Yun Chee in Brussels and Stephen Nellis in San Francisco; Editing by Chris Reese and Matthew Lewis)By Foo Yun Chee and Stephen Nellis \ No newline at end of file diff --git a/news/ATVI/2023.02.21/Microsoft's president to push Activision deal at EU hearing; Google, Nvidia also presen...txt b/news/ATVI/2023.02.21/Microsoft's president to push Activision deal at EU hearing; Google, Nvidia also presen...txt new file mode 100644 index 0000000000000000000000000000000000000000..fd74ca7c99b3daa9484f19abd642ab24a72d9102 --- /dev/null +++ b/news/ATVI/2023.02.21/Microsoft's president to push Activision deal at EU hearing; Google, Nvidia also presen...txt @@ -0,0 +1,35 @@ +BRUSSELS, Feb 21 (Reuters) - Microsoft +President Brad Smith on Tuesday will seek to convince EU +antitrust regulators at a closed hearing that the U.S. software +giant's $69 billion bid for "Call of Duty" maker Activision +Blizzard will boost competition.Smith will lead a delegation of 18 senior executives, +including Microsoft Gaming Chief Executive Officer Phil Spencer, +while Activision will be represented by its CEO Robert Kotick, a +European Commission document seen by Reuters showed.The hearing will allow Xbox maker Microsoft to gauge the +mood among senior EU and national competition officials and +European Commission lawyers ahead of the submission of remedies +to address antitrust concerns."I think we will make clear that our acquisition of +Activision Blizzard will bring more games to more people on more +devices and platforms than ever before," Smith told reporters on +his way to the hearing.Microsoft was willing to address concerns with "Call of +Duty" licensing offers similar to the 10-year deal with Nintendo +and regulatory undertakings, Smith added, without +providing any further details.Microsoft announced the Activision acquisition in January +last year to take on leaders Tencent and Sony +, but has run into regulatory headwinds in Europe, +Britain and the United States.Sony, which wants the deal to be blocked, sent its gaming +chief Jim Ryan.Alphabet's Google and chip designer and computing +firm Nvidia Corp, which has a gaming business, also +took part in the hearing."The European Commission asked for our views in the course +of their inquiries into this issue. We will continue to +cooperate in any processes, when requested, to ensure all views +are considered," a Google spokesperson said.Nvidia declined to comment. The European Games Developer +Federation, which has said the deal will allow Microsoft to +challenge Apple, Google and Tencent, is one of the +participants.Video game distributor Valve, video game publisher +Electronic Arts and the German competition watchdog and +its peers in Belgium, the Czech Republic, Finland, France, +Italy, Portugal, Spain and Sweden will also be taking part in +the event. +(Reporting by Foo Yun Chee; Editing by Chris Reese and Shounak +Dasgupta) \ No newline at end of file diff --git a/news/ATVI/2023.02.22/Explainer-How Microsoft is addressing antitrust concerns over Activision deal.txt b/news/ATVI/2023.02.22/Explainer-How Microsoft is addressing antitrust concerns over Activision deal.txt new file mode 100644 index 0000000000000000000000000000000000000000..80745bc08cc336d6b79f4b59eaa735b33b8df31a --- /dev/null +++ b/news/ATVI/2023.02.22/Explainer-How Microsoft is addressing antitrust concerns over Activision deal.txt @@ -0,0 +1 @@ +WHAT IS THE ACTIVISION DEAL?Microsoft announced the Activision bid in January last year, its biggest ever, to boost its firepower in the booming videogaming market and take on leaders Tencent and Sony, and lay the base for its investment in metaverse, digital spaces which are made more lifelike by the use of virtual reality (VR) or augmented reality (AR).WHAT DO ANTITRUST REGULATORS SAY?In December, the U.S. Federal Trade Commission (FTC) asked a judge to block the deal, saying it would give Microsoft's Xbox exclusive access to Activision games and leave out Sony's Playstation and Nintendo consoles.The UK competition agency CMA has suggested divesting Call of Duty to address its concerns while the European Commission has warned Microsoft about the possible anti-competitive impact of the deal. WHO ARE THE CRITICS AND FANS OF THE DEAL?Market leader Sony wants the deal to be blocked. A group of 10 gamers in the United States has filed a private consumer antitrust lawsuit over the deal. The European Games Development Federation, with more than 2,500 game studios in 22 European countries, and the UNI Global Union back the acquisition.WHAT HAS MICROSOFT PRESIDENT SAID AND OFFERED?Microsoft President Brad Smith said he doesn't think "it is feasible or realistic to think that one game or one slice of this company (Activision) can be carved out and separated from the rest" and that he doesn't "see a viable path to sell the Activision studio for the quality of the game to someone else."Smith said the CMA has a choice to either kill the deal and cement Sony's 80% market share in Europe or clear it with behavioural remedies such as the licensing deals with Nintendo and Nvidia that will bring Call of Duty to 150 more million people.WHAT ARE THE NINTENDO AND NVIDIA LICENSING DEALS? Both companies have signed 10-year licensing deals that will bring Call of Duty to their gaming platforms but these are conditional on the Activision deal being approved.WILL MICROSOFT'S TACTIC WORK?Behavioral remedies like licensing deals are a hard sell for the CMA which flexed its muscles in 2021 when it ordered Facebook owner Meta to sell animated-images platform Giphy after the deal had been completed.The European Commission could be more open to such remedies if they can allay their concerns, but it is still too early to tell.WHO HAS GIVEN THE GREEN LIGHT SO FAR?Brazil, Chile, Serbia and Saudi Arabia have given unconditional approval. WHAT NEXT?The EU antitrust enforcer's decision is due by April 11 but the deadline can be extended depending on when remedies are offered.The CMA has given Microsoft until 1700 GMT Feb. 22 to comment on possible remedies, with a response hearing possible by early March, final submissions and responses in March and April 26 for a final report. Microsoft's Smith said the company would fight the FTC's request to block the deal. (Reporting by Foo Yun Chee; Editing by Aurora Ellis)By Foo Yun Chee \ No newline at end of file diff --git a/news/ATVI/2023.02.22/Marketmind: Hang on a minute.txt b/news/ATVI/2023.02.22/Marketmind: Hang on a minute.txt new file mode 100644 index 0000000000000000000000000000000000000000..d48f172ec25ff61a61873a822ebd0cfbd1b351b0 --- /dev/null +++ b/news/ATVI/2023.02.22/Marketmind: Hang on a minute.txt @@ -0,0 +1 @@ +Only seven weeks into the new year and many of the year's favoured investments look spent already - or at least they require something of a rethink.With Wall St stocks clocking their worst day of 2023 on Tuesday, many of the big consensus trades - short dollar, long bonds and long emerging markets - all look questionable if the U.S. and world economies are re-acclerating, buoying above-target inflation and forcing central banks to tighten further.At 4.73%, two-year U.S. Treasury yields closed at their highest in 15 years. The dollar is now almost 1% higher for the year to date. Emerging market equities are at their lowest since Jan 4, the VIX 'fear index' is at its highest since Jan 3 and the S&P500 and Nasdaq have wiped out all of February gains.Whether or not stocks are in what Morgan Stanley strategist Mike Wilson likens to the 'death zone' at the top of Everest, some soul searching is underway nonetheless. And markets have calmed a little early on Wednesday. Minutes of the Federal Reserve's latest policy meeting are due for release on Wednesday - but data releases showing sticky inflation, booming retail sales and a service sector back in expansion emerged after that meeting. And so a speech from New York Fed chief John Williams make give a better steer on current thinking.Markets are now priced for a Fed 'terminal rate' in the 5.25-5.50% range by July and no cut from there by year-end.European central bankers are also talking tough as the region's economies dodge recession and inflation stays high. Deutsche Bank lifted its forecast for where the European Central Bank's key rate will peak in this tightening cycle to 3.75% from 3.25% previously - 125bp up from current rates.The only positive inflation news was that ebbing world oil prices are now tracking year-on-year declines of 15% as huge base effects from last February's Ukraine invasion kick in. Weak U.S. housing updates and downbeat retail readouts from Walmart and Home Depot also question the prevailing narrative.But geopolitical concerns rankle again ahead of Friday's anniversary, with Russia unilaterally withdrawing from a key nuclear arms control treaty.As G20 finance chiefs meet in India, the world is watching closely the extent of the alliance between Beijing and Moscow. According to the Wall Street Journal, China's top diplomat has indicated that Beijing's relationship with Moscow is "rock solid" and Chinese leader Xi Jinping is preparing to visit Moscow for a summit with Vladimir Putin in the coming months.Elsewhere, the Bank of Japan doubled down again on its bond yield cap as Japan's 10-year government bond yield breached the BoJ's policy band for a second straight session. Big manufacturers in Japan remained gloomy in February too.In banking, shares of Lloyds fell 2.6% after Britain's biggest mortgage lender reported a flat annual profit for 2022 as a jump in interest income was offset by mounting bad loan provisions. Lloyds said falling house prices, competition for savings and rising costs may crimp future returns. With results from Nvidia due on Wednesday, Microsoft struck a 10-year deal to bring "Call of Duty" and other Activision games to Nvidia's gaming platform if the Xbox maker is allowed to complete a much-contested $69 billion acquisition of Activision.Coinbase Global reported a fourth-quarter loss, as trading volume at the cryptocurrency exchange came under pressure from an industry-wide downturn triggered by a string of high-profile bankruptcies.Key developments that may provide direction to U.S. markets later on Wednesday:* U.S. Federal Reserve's Federal Open Market Committee releases minutes from its latest meeting; New York Fed President John Williams speaks* G20 finance ministers and central bank chiefs meet in Bengaluru in southern India* U.S. Treasury sells 5-year notes, 2-year floating rate notes* U.S. corp earnings: NVIDIA, EBay, NetApp, ETSY, Garmin, Allegion etcGraphic: World economy surprises in 2023 https://fingfx.thomsonreuters.com/gfx/mkt/movakqnyjva/One.PNGGraphic: US service sector expanding again https://www.reuters.com/graphics/USA-STOCKS/klvygnewkvg/spglobalpmi.pngGraphic: Japan govt. bond yields breach cap https://www.reuters.com/graphics/JAPAN-ECONOMY/BOJ%20JAPAN-ECONOMY/myvmoanagvr/Screenshot%202023-02-22%20at%2011.43.03%20AM.pngGraphic: Coinbase reports 4th consecutive quarterly net loss https://www.reuters.com/graphics/FINTECH-CRYPTO/COINBASE/klvygnkexvg/chart.pngGraphic: Moscow suspends nuclear arms control treaty https://www.reuters.com/graphics/UKRAINE-CRISIS/PUTIN-NUCLEAR/akpeqogrwpr/chart_eikon.jpg (By Mike Dolan, editing by Christina Fincher mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/ATVI/2023.02.23/Antitrust & Competition Technology 2022 Year In Review.txt b/news/ATVI/2023.02.23/Antitrust & Competition Technology 2022 Year In Review.txt new file mode 100644 index 0000000000000000000000000000000000000000..b1d0e062cbfe3de82abf54aaeee4c48b9baa6d5a --- /dev/null +++ b/news/ATVI/2023.02.23/Antitrust & Competition Technology 2022 Year In Review.txt @@ -0,0 +1,11 @@ +2022 saw a major uptick in antitrust scrutiny and enforcement, primarily related to vertical transactions by large technology companies. Meta/Within, Microsoft/Activision, and Broadcom/VMware (among others) faced resistance from, or were challenged by, antitrust agencies alleging theories of harm ranging from the traditional (i.e., input foreclosure)1 to the more novel (i.e., a loss of potential future competition). We expect this trend to continue in 2023, with global agencies continuing their skepticism of vertical transactions and exploring all potential theories of harm, novel or otherwise.Background and Updates to Technology Transactions We're MonitoringMeta/Within UpdateThe Federal Trade Commission (FTC) filed a complaint in July seeking to block Meta's acquisition of the virtual reality (VR) app maker Within.2 Meta makes Meta Quest, a leading VR hardware device. It also operates the Oculus Quest app store and sells several best-selling VR apps. Within's flagship product is a VR fitness app called Supernatural, which provides users with virtual fitness classes for a monthly subscription fee.3The FTC's complaint relied on two varieties of the potential competition theory of harm: "actual" and "perceived" potential competition. Under the FTC's actual potential competition theory, but for the acquisition of Within, Meta would have become a competitor in the dedicated VR fitness app market. In its filings and at trial, the FTC tried to establish that Meta had the "resources, capabilities, and incentives to enter the VR Dedicated Fitness App market" and "intended to do just that but for the proposed acquisition" of Within.4 The FTC's other theory of harm, a perceived potential competition theory, alleges that even if Meta wouldn't have actually entered the market, Within perceived Meta as a potential entrant, and the elimination of Meta's perceived competition would therefore substantially lessen competition.5A three-week trial in the Northern District of California began on December 8, 2022. On February 1, 2023, the court ruled in favor of Meta, rejecting the FTC's request for a preliminary injunction6 and clearing the way for the acquisition to close after the agency decided not to appeal the decision.7Unsealed on February 6, Judge Edward Davila's decision ultimately found that the agency had failed to meet its burdens with respect to the potential competition theories it had put forth. Although the FTC lost on the facts, however, Davila rejected the parties' claims that these potential competition theories were not legally cognizable or were subject to extremely high thresholds of proof. Further, Davila accorded "little weight" to the testimony provided by Meta's employees during the litigation, concerned that such "ex post facto testimony" would be inherently and unavoidably biased. With regard to Meta's motives and plans, Davila looked instead to "contemporaneous statements made by Meta employees" (i.e., ordinary-course documents).The ultimate outcome for the agency is mixed. While this decision adds to a recent string of losses for the FTC, the agency now has a road map for future potential competition cases, with respect to both the legal standards/burdens and the types of evidence about the specific parties and the product markets more generally likely to be deemed probative in that context.While the FTC has historically dropped parallel administrative actions when it loses a preliminary injunction action in federal court,8 as of this writing, the FTC has not indicated whether it will move forward in this instance. Considering that the agency under Chair Lina Khan has bucked unwritten rules in the past, we would not be surprised to see the FTC use every available resource to challenge the transaction and proceed with the administrative trial.Microsoft/Activision UpdateMicrosoft's acquisition of Activision, which was announced in January, ran into several major challenges in 2022. The deal has a clear vertical component given that Microsoft manufactures Xbox, one of the three top-selling video game consoles, and Activision Blizzard makes one of the most popular video game franchises, Call of Duty. Activision Blizzard also makes popular PC and mobile video games, such as World of Warcraft and Candy Crush. Microsoft's acquisition of a strong and innovative video game developer could be seen as a move into business lines that are distant from, though in the same ecosystem as, the company's "core" business lines including PC software (Microsoft Office) and video game hardware (Xbox).Microsoft has publicly committed to making Call of Duty available to its biggest rivals, PlayStation and Nintendo, for 10 years once the game launches on Microsoft platforms.9 Although Nintendo accepted the proposal, Sony has vehemently opposed the transaction, arguing it would harm competition around the globe. Behavioral fixes like the one proposed by Microsoft have historically been acceptable to antitrust regulators. But in recent years, regulators' views, including those in the EU, UK, and US, have shifted toward greater skepticism of vertical transactions and the ability of behavioral remedies to alleviate competition concerns.On December 8, 2022, the FTC filed an administrative lawsuit challenging the merger.10 In its complaint, the FTC alleges the acquisition would "enable Microsoft to suppress competitors to its Xbox gaming consoles and its rapidly growing subscription content and cloud-gaming business."11 In other words, the FTC alleges that Microsoft could block new Call of Duty games from being offered on its rivals' consoles, giving the Xbox an unfair advantage. The agency also focused on Microsoft's burgeoning subscription and cloud-based gaming service (Game Pass), where subscribers get access to hundreds of games for a single monthly fee. Adding Call of Duty (and other Activision Blizzard games) to this service and blocking it from rivals (e.g., PlayStation Plus) would also create an unfair advantage, according to the agency.As Microsoft gears up for the administrative trial in the US, the Competition and Markets Authority (CMA) issued its Provisional Findings in its Phase 2 investigation.12 The CMA provisionally found that the merger gives rise to a substantial lessening of competition (SLC) regarding (i) input foreclosure in the supply of console gaming in the UK, based on a finding that Microsoft would find it commercially and financially beneficial to make Call of Duty exclusive to Xbox or available on Xbox on materially better terms than on PlayStation, and (ii) input foreclosure in the (nascent) cloud gaming services market in the UK.As is standard in cases where an SLC has been identified, the CMA also published a Notice of Possible Remedies. This document acts as a formal starting point for the discussion of remedies with the merging parties and soliciting views from the market. The CMA's current position is that Microsoft should divest the Activision Blizzard businesses associated with its Call of Duty game, or for the merger to be prohibited entirely. Unsurprisingly, the CMA has shown reluctance to consider behavioral remedies, which could just be posturing at this stage; however, the CMA (in common with other authorities) is willing to accept behavioral remedies only in limited circumstances, so Microsoft has a high bar to convince the CMA that a behavioral commitment would be workable in this case (e.g., a commitment to supply Call of Duty to its rivals).The European Commission (EC) also continues its own in-depth investigation and, as with the FTC and CMA, is expected to oppose the deal and/or require significant remedies. The deal is also still under review by authorities in Australia, Japan, New Zealand, and South Korea.Broadcom/VMwareMicrochip maker Broadcom's proposed acquisition of the software company VMware has generated significant headwinds despite the fact that the parties seem to be in adjacent, not horizontal or vertical, markets. Broadcom is a semiconductor company that primarily designs and sells (but does not manufacture) chips for the wireless and broadband communication industry. VMware, by contrast, is in the cloud-computing and visualization space, providing cloud infrastructure and virtual machine services, largely for enterprise customers.The FTC issued second requests to the parties in early July, and the EC announced an in-depth investigation of the transaction in late December 2022. When announcing the investigation, Margrethe Vestager, the EC's head of antitrust enforcement, said the commission had concerns that Broadcom could eliminate its competitors' access to VMware's virtualization software. The EC previously investigated Broadcom for its sales tactics, resulting in a seven-year consent decree.The additional scrutiny could be due to the strength of Broadcom's chips and VMware's cloud management software in the broader cloud ecosystem. Or it may simply be a reflection of a more aggressive antitrust environment, particularly with respect to large players in the technology space that have been scrutinized by antitrust agencies for either conduct or proposed mergers in the past.Conclusions and Predictions for 20232022 saw global antitrust agencies taking an aggressive approach to vertical and adjacent transactions in the technology space. We expect this trend to continue in 2023. Even if certain transactions are ultimately able to proceed (such as Meta/Within after winning in federal court), global antitrust agencies are signaling they will leave no stone unturned in their investigations of transactions, including those that lack traditional horizontal concerns.Footnotes1. CRN, "Broadcom-VMware Deal Under Pressure In US, EU: Five Things To Know" (Dec. 22, 2022).2. Complaint for a Temporary Restraining Order and Preliminary Injunction, FTC v. Meta Platforms Inc., Mark Zuckerberg, and Within Unlimited, Case No. 5:22-cv-04325 (N.D. Cal. July 27, 2022) (hereinafter "Meta/Within Complaint").3. Supernatural, "Get Supernatural."4. Plaintiff's Reply to Defendants' Opposition to Prelim. Injunction Motion, FTC v. Meta Platforms Inc., Mark Zuckerberg, and Within Unlimited, Case No. Case 5:22-cv-04325, at 1 (N.D. Cal. Nov. 21, 2022).5. Plaintiff's Mem. of Points and Authorities in Support of Mot. for a Prelim. Injunction, FTC v. Meta Platforms Inc., Mark Zuckerberg, and Within Unlimited, Case No. Case 5:22-cv-04325, at 211 (N.D. Cal. Oct. 31, 2022), available at https://www.law360.com/articles/1545376/attachments/1.6. Order Denying Plaintiff's Motion for Preliminary Injunction, FTC v. Meta Platforms Inc., Mark Zuckerberg, and Within Unlimited, Case No. Case 5:22-cv-04325, at 211 (N.D. Cal., 2022), available at https://www.documentcloud.org/documents/23598337-ftc-vs-meta-within-ruling?responsive=1&title=1.7. The Verge, "Meta wins fight to buy VR startup Within" (updated Feb. 4, 2023); Reuters, "US FTC will not appeal decision allowing Meta to purchase VR content maker Within" (Feb. 6, 2022).8. The agency did not bring a preliminary injunction in federal court in Illumina/GRAIL due to a belief the parties would not consummate over the EU's ongoing objections9. CNBC, " Microsoft says it will bring Call of Duty to Nintendo for 10 years if Activision deal closes" (Dec. 7, 2022).10. Similar to Illumina/GRAIL, the FTC is not currently seeking a preliminary injunction in federal court to block the transaction due to Microsoft's ongoing engagement with the EC.11. Administrative Complaint, In re FTC v. Microsoft Corp. and Activision Blizzard Inc., Docket No. 9412 (Dec. 8, 2022).12. Competition & Markets Authority, "Anticipated acquisition by Microsoft of Activision Blizzard, Inc.: Provisional findings report " (February 2023). Available at: https://assets.publishing.service.gov.uk/media/63e3e9aee90e0762692b970a/Microsoft_Activision_-_Provisional_Findings_Report_3.pdf.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Arman Oruc +Goodwin Procter LLP +100 Northern Avenue +Boston +MA 02210 +UNITED STATES +Tel: 212813 8800 +E-mail: rmertz@goodwinlaw.com +URL: www.goodwinlaw.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/ATVI/2023.03.01/Activision fired staff for using 'strong language' about remote work policy - union.txt b/news/ATVI/2023.03.01/Activision fired staff for using 'strong language' about remote work policy - union.txt new file mode 100644 index 0000000000000000000000000000000000000000..da8db4ebfe53f21389d0934749487162e1a63cd4 --- /dev/null +++ b/news/ATVI/2023.03.01/Activision fired staff for using 'strong language' about remote work policy - union.txt @@ -0,0 +1 @@ +The Communication Workers of America union (CWA) said it filed a complaint with the U.S. National Labor Relations Board on Tuesday seeking to have the workers reinstated. The case is the latest the union has brought to the labor board as part of a campaign to unionize the firm and its subsidiaries. Small groups of game testers at three Activision subsidiaries voted to join the CWA last year. Microsoft Corp is seeking to acquire Activision for $69 billion, but U.S. regulators have sued to block the deal. The labor board last year issued complaints accusing Santa Monica, California-based Activision of threatening employees who posted on social media about their working conditions and withholding raises from pro-union workers, which the company denies. Activision did not immediately respond to a request for comment on Wednesday. According to the union, Activision last month announced its employees would be required to report to the office three days per week beginning in April, ending a policy that had allowed more flexible arrangements during the COVID-19 pandemic.The change received an overwhelmingly negative response from employees, the CWA said, and Activision fired two game testers who "expressed their outrage using strong language." The CWA suggested the Democrat-led labor board could use the case to revisit a 2020 ruling by a Republican majority that limited legal protections for workers who use vulgar or offensive language during workplace disputes. "When faced with unfair treatment by unscrupulous employers like Activision, workers should have the right to express themselves," CWA Secretary-Treasurer Sara Steffens said in a statement. (Reporting by Daniel Wiessner in Albany, New York, Editing by Alexia Garamfalvi and John Stonestreet)By Daniel Wiessner \ No newline at end of file diff --git a/news/ATVI/2023.03.01/EU regulators extend deadline for Microsoft, Activision deal to April 25.txt b/news/ATVI/2023.03.01/EU regulators extend deadline for Microsoft, Activision deal to April 25.txt new file mode 100644 index 0000000000000000000000000000000000000000..7df01ed30c472c3933f3b1b3a7a72cb5e37de5b3 --- /dev/null +++ b/news/ATVI/2023.03.01/EU regulators extend deadline for Microsoft, Activision deal to April 25.txt @@ -0,0 +1 @@ +The Xbox maker announced the Activision Blizzard deal in January last year to help it compete better with leaders Tencent and Sony but has encountered regulatory hurdles in Europe, Britain and the United States.It is expected to offer remedies to the EU competition enforcer soon. (Reporting by Foo Yun Chee; Editing by Angus MacSwan) \ No newline at end of file diff --git a/news/ATVI/2023.03.01/What The SEC's Activision Blizzard Settlement Means For ESG Enforcement Trends, Company...txt b/news/ATVI/2023.03.01/What The SEC's Activision Blizzard Settlement Means For ESG Enforcement Trends, Company...txt new file mode 100644 index 0000000000000000000000000000000000000000..556982e13fbef6247a23e11b968a22367715dcf6 --- /dev/null +++ b/news/ATVI/2023.03.01/What The SEC's Activision Blizzard Settlement Means For ESG Enforcement Trends, Company...txt @@ -0,0 +1,12 @@ +On February 3, 2023, the US Securities and Exchange Commission (SEC or Commission) announced that video game developer Activision Blizzard, Inc. (Activision) agreed to pay $35 million to settle charges for its failure to maintain adequate disclosure controls and for violation of an SEC whistleblower protection rule. The settlement marks the end of a headline-making probe into the company's handling of employee harassment complaints and workplace misconduct allegations.A key takeaway from the Activision settlement is the extension of the rule regarding disclosure controls to address what might typically be thought of as an HR-only issue. In its order (the Order), the SEC contrasted risk factor disclosures in Activision's SEC filings between 2018 and 2021 "acknowledg[ing] that attracting, retaining, and motivating a workforce of employees with specialized skills is particularly important to its business," with Activision's failure to maintain "controls and procedures designed to ensure that information related to employee complaints of workplace misconduct would be communicated to [Activision]'s disclosure personnel to allow for timely assessment on its disclosures." The emphasis on Activision's failure to collect what the SEC views as relevant information about employee concerns to assess the accuracy of risk factor disclosures is an interesting indication of where the Commission may go in the future. While the Order does not assert that Activision's disclosures were actually inaccurate, the Commission's focus on risk factor language regarding the importance of skilled personnel is emblematic of the SEC's increased focus on human capital disclosures, including the "Social" aspects of Environmental, Social and Corporate Governance (ESG) issues. It also demonstrates yet another avenue for potential enforcement in this area beyond those actions premised on demonstrably inaccurate disclosures.The case also highlights the SEC's continued vigilance in enforcing whistleblower protection laws, its scrutiny of separation agreements, and its interest in keeping open the pipeline of tips from whistleblowers. As Arnold & Porter partner Jane Norberg, former Chief of the SEC's Office of the Whistleblower, discussed in a recent article in Law360, Rule 21F-17 impeding cases are now "bread-and-butter" cases for the SEC's Office of the Whistleblower.Background: Activision's Historic IssuesSince 2021, Activision has been embroiled in allegations related to workplace harassment and discrimination, resulting in several lawsuits and the recently-concluded SEC investigation. The Wall Street Journal first reported on the SEC investigation in September 2021, revealing that the SEC was investigating Activision's disclosures regarding employees' sexual misconduct and discrimination allegations. The SEC reportedly subpoenaed documents from Activision and its senior executives, including CEO Bobby Kotick, related to the allegations. In February 2022, the Wall Street Journal reported that the SEC issued another subpoena to Activision, expanding the scope of the investigation and requesting additional documents. The SEC's probe into Activision's workplace misconduct allegations was the subject of a previous Arnold & Porter Advisory, available here.The SEC Order and SettlementThe SEC's Order found that Activision violated two provisions of the Securities and Exchange Act of 1934 (Exchange Act)—Rule 13a-15(a) (related to disclosure controls) and Rule 21F-17(a) (related to impeding whistleblower tip reporting)—for conduct that occurred between 2018 and 2021.Disclosure Control ViolationsPursuant to Rule 13a-15(a), issuers must maintain disclosure controls and procedures designed to ensure that information required to be disclosed is recorded, processed, summarized, and reported within the required time period. To demonstrate Activision's violation of this rule, the Commission highlighted a specific risk factor disclosed by Activision and contrasted it with Activision's failure to adequately capture and collect employee complaints to pass along to its disclosure personnel.Specifically, in its annual and quarterly SEC filings, Activision included a risk factor regarding the importance of attracting, retaining, and motivating skilled personnel, emphasizing that the failure to do so could be detrimental to the company's success. Given the emphasis on the need to maintain this workforce, the Commission found that Activision lacked controls and procedures designed to ensure that information related to employee complaints of workplace misconduct would be "accessible" to and assessed by Activision's disclosure personnel. According to the SEC, Activision's management and disclosure personnel were therefore unable to assess related risks to the company's business and determine whether such risks warranted disclosure to investors.Notably, the SEC did not charge Activision with making misleading statements or omissions. It only charged the company with the failure to maintain proper controls. Activision also took remedial action: between May 2020 and May 2022, Activision implemented several company-wide structural changes and policies to enhance reporting policies regarding employee complaints.SEC Commissioner Hester M. Peirce dissented on the basis that the Order failed to articulate any securities laws violations. Specifically, Commissioner Peirce questioned what she perceived as an overly-broad interpretation of Rule 13a-15(a). In her opinion, the majority deviated from a straightforward reading of the rule, which she says mandates that disclosure controls and procedures capture only information required to be disclosed, and instead adopted an interpretation requiring companies to capture an "additional, vaguely defined category" of information purportedly relevant to a company's determination about whether a risk requires disclosure. That logic, according to Commissioner Peirce, will result in a slippery slope whereby companies' disclosure controls and procedures must capture potentially relevant, but ultimately unimportant, information.Whistleblower Impeding ChargesThe Order also found that Activision violated Rule 21F-17 of the Exchange Act, which prohibits anyone from taking steps "to impede an individual from communicating directly with the Commission staff about a possible securities law violation, including enforcing, or threatening to enforce, a confidentiality agreement." According to the Order, Activision's standard separation agreement template contained the following language requiring former employees to notify the company of any requests from an administrative agency in connection with a report or complaint:Nothing in this Separation Agreement shall prohibit . . . disclosures that are truthful representations in connection with a report or complaint to an administrative agency (but only if I notify the Company of a disclosure obligation or request within one business day after I learn of it and permit the Company to take all steps it deems to be appropriate to prevent or limit the required disclosure).Additionally, the Order explains that between 2016 and 2021, most, but not all, of the executed separation agreements also contained this additional clause:Nothing in this Release prevents me from . . . giving truthful testimony, or truthfully responding to a valid subpoena, or communicating or filing a charge with government or regulatory entities (such as the Equal Employment Opportunity Commission, National Labor Relations Board, Department of Labor, or Securities and Exchange Commission.)Although the SEC was unaware of any instances in which a former Activision employee was prevented from communicating with Commission staff about potential securities laws violations, the Order found that the separate provision requiring notification to the company of a government request undermined the purpose of the whistleblower program to "encourag[e] individuals to report to the Commission."Implications of the Activision ActionDisclosure Controls and ESGThere is no doubt that the policing of disclosures and disclosure controls related to ESG will continue under Chairman Gensler's administration. The SEC's action against Activision, however, highlights the "Social" component of ESG, which dovetails with the Gensler Commission's commitment to seeking new avenues for enforcement in this area and to preventing violations of whistleblower protection laws. Last year, the SEC brought several high-profile enforcement actions in both spheres, highlighting the SEC's intensified focus on workplace misconduct and associated disclosure requirements.In light of the Activision action, issuers would do well to consider the "Social" aspect of their disclosures and disclosure controls, including how they interact with other areas of the business such as HR, compliance, and legal that may receive complaints or whistleblower tips. The action against Activision puts issuers on notice from the Gensler Commission that, if they discuss an area as a particular risk to their business (e.g., attracting and retaining workers with a specific skillset) in their filings, then they should ensure that their disclosure controls (i) are broad enough to capture information related to all risk categories and (ii) include the timely sharing of information with management or a disclosure committee.Whistleblower ProtectionsThe whistleblower protection charges in Activision serve as another reminder that companies should carefully review separation and employment agreements to ensure that they contain no contradictory terms that could be viewed as impeding reporting to the SEC. Importantly, as evidenced by this Order, having an incomplete "catch-all" or "carve-out" clause for government reporting in one area of a document will not excuse non-compliant or contradictory language in another section of the document.Finally, companies should conduct risk assessments to test that internal tips and complaints are being properly reviewed and investigated, if appropriate. And, as evidenced by the Activision enforcement action, companies should test internal whistleblower reporting procedures and disclosure controls to ensure that complaints related to information listed as a risk factor in SEC filings is being communicated to disclosure personnel. In a recent Advisory, available here, Arnold & Porter offered key takeaways for companies to consider to ensure compliance with whistleblower protection laws.Arnold & Porter has both a Whistleblower Risk Mitigation & Defense practice and a multidisciplinary ESG working group. Our Whistleblower Risk Mitigation & Defense team includes former SEC enforcement senior leaders, including Ms. Norberg, the former Chief of the SEC's Whistleblower Office. The team assists clients with handling sensitive whistleblower issues, both internally and with defense of governmental claims. Our ESG working group includes former EPA, SEC, and DOJ officials who assist clients with all aspects of ESG, including disclosures, disclosure controls, and SEC and regulatory defense.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Ms Jane Norberg +Arnold & Porter +601 Mass. Ave., NW +Washington, DC +DC 20001-3743 +UNITED STATES +Tel: 202942.5000 +Fax: 202942.5999 +E-mail: anna.shelkin@arnoldporter.com +URL: www.arnoldporter.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git "a/news/ATVI/2023.03.02/Eu antitrust regulators not expected to demand microso\342\200\246.txt" "b/news/ATVI/2023.03.02/Eu antitrust regulators not expected to demand microso\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..e69de29bb2d1d6434b8b29ae775ad8c2e48c5391 diff --git a/news/ATVI/2023.03.02/Exclusive-EU unlikely to demand asset sales in Microsoft, Activision deal, sources say.txt b/news/ATVI/2023.03.02/Exclusive-EU unlikely to demand asset sales in Microsoft, Activision deal, sources say.txt new file mode 100644 index 0000000000000000000000000000000000000000..5ee95a02c5985f39d88717210ef3da318653423f --- /dev/null +++ b/news/ATVI/2023.03.02/Exclusive-EU unlikely to demand asset sales in Microsoft, Activision deal, sources say.txt @@ -0,0 +1 @@ +Microsoft President Brad Smith last month said the U.S. software giant was ready to offer rivals licensing deals to address antitrust concerns but it would not sell Activision's lucrative "Call of Duty" franchise. (Reporting by Foo Yun Chee; Editing by Hugh Lawson) \ No newline at end of file diff --git a/news/ATVI/2023.03.02/Microsoft set to win EU nod on Activision with licensing offer, sources say.txt b/news/ATVI/2023.03.02/Microsoft set to win EU nod on Activision with licensing offer, sources say.txt new file mode 100644 index 0000000000000000000000000000000000000000..47d265a1144f6a75d9d232c0945a54aea0ba2f4a --- /dev/null +++ b/news/ATVI/2023.03.02/Microsoft set to win EU nod on Activision with licensing offer, sources say.txt @@ -0,0 +1,35 @@ +BRUSSELS, March 2 (Reuters) - Microsoft Corp is +expected to secure EU antitrust approval for its $69 billion +acquisition of Activision with its offer of licensing +deals to rivals, three people familiar with the matter said, +helping it to clear a major hurdle.Microsoft announced the Activision bid in January last year, +its biggest ever, to take on leaders Tencent and Sony +, in the booming videogaming market and to venture in +the metaverse which is virtual online worlds where people can +work, play and socialise.The European Commission, which is scheduled to decide on the +deal by April 25, is not expected to demand that Microsoft sell +assets to win its approval, the people said.In addition to the licensing deals for rivals, Microsoft may +also have to offer other behavioural remedies to allay concerns +of other parties than Sony, one of the people said. Such +remedies typically refer to the future conduct of the merged +company.Activision shares, which jumped 1.8% in pre-market trading +after the Reuters' story was published, were up 2.6% in late +trade.Microsoft President Brad Smith last month said the U.S. +software group was ready to offer rivals licensing deals to +address antitrust concerns but it would not sell Activision's +lucrative "Call of Duty" franchise.Smith said it was not feasible or realistic to think that +one game or one slice of Activision can be carved out and +separated from the rest.The EU competition enforcer declined to comment.Microsoft said it was "committed to offering effective and +easily enforceable solutions that address the European +Commission's concerns.""Our commitment to grant long term 100% equal access to +Call of Duty to Sony, Steam, NVIDIA and others preserves the +deal's benefits to gamers and developers and increases +competition in the market," a Microsoft spokesperson said.Last month, Microsoft said it had signed 10-year licensing +deals with Nintendo and Nvidia that will bring +Call of Duty to their gaming platforms, with the agreements +conditional on a green light for the Activision deal.The deal faces regulatory headwinds in Britain, where the UK +competition agency has suggested that Microsoft divests Call of +Duty to address its concerns while the U.S. Federal Trade +Commission (FTC) has asked a judge to block the deal. +(Reporting by Foo Yun Chee; Editing by Hugh Lawson, Elaine +Hardcastle, Jane Merriman and Marguerita Choy) \ No newline at end of file diff --git a/news/ATVI/2023.03.02/The Romans Named Global Consumer PR Agency of Record for the Candy Crush Franchise.txt b/news/ATVI/2023.03.02/The Romans Named Global Consumer PR Agency of Record for the Candy Crush Franchise.txt new file mode 100644 index 0000000000000000000000000000000000000000..0a78fdb857446bddbb13691637baec326d5851dc --- /dev/null +++ b/news/ATVI/2023.03.02/The Romans Named Global Consumer PR Agency of Record for the Candy Crush Franchise.txt @@ -0,0 +1,29 @@ + + +Sweeeeeet +NEW YORK, March 2, 2023 /PRNewswire/ -- King, makers of Candy Crush, the top grossing mobile gaming franchise in U.S. app stores1, has appointed creative agency The Romans as its retained consumer PR agency. The appointment is the result of a competitive pitch process which began in December, 2022. + + + + + + + +The Romans will be responsible for the brand's consumer PR efforts, leading the charge on creative campaigns, events, stunts, and ongoing press office activities, with a focus on its key markets in the US and UK. +Of the appointment, Louise Ramsden, Brand Communications Lead at King said, +"We were looking for a global agency with an implicit understanding of gaming, tech, and most importantly, culture. The response The Romans delivered showed they not only had a deep understanding of our audience, but they also knew how to reach new audiences around the world via high-impact creative campaigning. We're at a pivotal point with the brand turning 10 years old, and our consumers demanding more engagement and entertainment than ever. We not only want to serve them by providing that on the platform, but IRL too, and that's what we plan on delivering with The Romans - high-impact initiatives at every turn. We want to disrupt the category in a distinctly Candy Crush Saga way, while celebrating our players. 2023 is just the beginning." +Sarah Jenkins, Partner at The Romans New York said, +"King is the exact type of client we're looking for as we continue our agency growth and we couldn't be more honored to have them select The Romans as their creative partner for the Candy Crush franchise. Their team is dynamic, bold and eager to work collaboratively to inject the brand back into the cultural zeitgeist. We're thrilled to hit the ground running with them and look forward to showing up with some sweet surprises for consumers, while generating the buzz Candy Crush deserves as one of the most beloved worldwide mobile game franchises being played today." +The account will be led on a day-to-day basis in the US by Katherine Espinosa, Vice President, and in Europe, by Kate Brazier, Director, who joined The Romans from her role as Global Growth Director at Grayling in 2021. +About King +With a mission of Making the World Playful, King is a leading interactive entertainment company and the creator of the world-famous Candy Crush franchise, as well as other mobile game hits including Farm Heroes Saga. Candy Crush is the top-grossing franchise in U.S. app stores, a position it has held for the last five years, and King's games are being played by 233 million monthly active users as of Q4 2022. King, a part of Activision Blizzard (NASDAQ: ATVI), has game studios in Stockholm, Malmö, London, Barcelona and Berlin and offices in San Francisco, New York, Los Angeles and Malta. More information can be found at King.com or by following us on LinkedIn, @lifeatking on Instagram, or @king_games on Twitter. +© 2023 King.com Ltd. King, the King crown logo, Candy Crush, the Tiffi character, Candy Crush Saga and related marks are trademarks of King.com Ltd and/or related entities. +About The Romans +Founded in 2015, The Romans has been named 'Agency of The Year' at a major awards show every year for the past six years, and is currently PRWeek UK's Mid-Sized Agency of The Year 2022 and Campaign's PR Agency of The Year 2022. It has offices in New York, Dubai and London and its clients include Ben & Jerry's, Dove, Unilever, Pernod Ricard and Heineken. For more information, visit www.wearetheromans.com.  +1 Activision Blizzard Q4 2022 earnings press release + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/the-romans-named-global-consumer-pr-agency-of-record-for-the-candy-crush-franchise-301761335.html +SOURCE The Romans + + diff --git a/news/ATVI/2023.03.03/EU to OK Microsoft's huge Activision bid: sources.txt b/news/ATVI/2023.03.03/EU to OK Microsoft's huge Activision bid: sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..e69de29bb2d1d6434b8b29ae775ad8c2e48c5391 diff --git a/news/ATVI/2023.03.03/Fed's 'slow and steady' lifts market mood.txt b/news/ATVI/2023.03.03/Fed's 'slow and steady' lifts market mood.txt new file mode 100644 index 0000000000000000000000000000000000000000..e69de29bb2d1d6434b8b29ae775ad8c2e48c5391 diff --git a/news/AVGO/2023.01.04/Momentum Picks Q1 2023 : 5 stocks for the winter.txt b/news/AVGO/2023.01.04/Momentum Picks Q1 2023 : 5 stocks for the winter.txt new file mode 100644 index 0000000000000000000000000000000000000000..75d631bdd27941f1a4bca5327dbd36ebb8fd3452 --- /dev/null +++ b/news/AVGO/2023.01.04/Momentum Picks Q1 2023 : 5 stocks for the winter.txt @@ -0,0 +1,36 @@ + +In the classic sense of the term, momentum is an investment vision that favors stocks that have been trending upward over the past six and twelve months. At MarketScreener, Raytheon Technologies, Air Products & Chemicals, Broadcom, Unitedhealth Group and Black Stone Minerals. A portfolio weighted on these five positions would have generated a return of +17.05% compared to +3.24% for our benchmark, the S&P 500 Index, over the fourth quarter of 2022 (from 9/29/2022 to 12/31/2022). At the individual level, Raytheon Technologies gained +22.08% for the quarter, Air Products & Chemicals +32.41%, Broadcom +21.31%, Black Stone Minerals +6.44% and Unitedhealth Group +2.99%. This selection significantly outperformed the U.S. Broad Index while offering lower volatility. +  + +  +The Momentum Picks selection started on January 1, 2022 ended the year with a much better performance than the S&P 500: +2.67% versus -19.44% for the US index. This outperformance was mainly achieved in Q2 and Q4 2022.  +Let's take a closer look at the five U.S. stocks selected for the first quarter of 2023: +  + +  +Paccar +Paccar is a very well-run company, arguably the best manufacturer of heavy-duty vehicles. The company provides a ROIC of almost 12% to its shareholders. Over the past 20 years, sales have grown at a steady rate of 8% per year, with low volatility even during recessions. EPS and sales revisions are bullish and momentum is good. + +Source: Paccar +Microchip Technology +Microchip Technology is a U.S. manufacturer of semiconductors for the home goods, automotive, computer and telecom industries. Its flagship products are microcontrollers, which account for more than 50% of its revenues, and programmable logic arrays (FPGAs for those in the know). Microcontrollers enable automation and are becoming more and more indispensable in a number of devices, notably in the automotive and connected object industries. The company should continue to grow this year with a strong demand from its customers. The group's profitability is exemplary (net margin estimated at 27% in 2023 and ROE of 50%). The valuation seems to be quite cheap compared to the quality of the company and its future prospects +. + +Source: Microchip Technology +Ulta Beauty +The undisputed leader in the sale of beauty products in the United States, Ulta, as it is known, has been able to thwart the growth plans of Sephora, the rival cosmetics retailer of the powerful LVMH group, for several years. With a vast network of 1,300 stores, Ulta Beauty has established itself over the past 30 years as the leading destination for consumers for cosmetics, fragrances, skin care, hair care and beauty services. Customers have a wide range of products to choose from. In Ulta's shelves, you can find an assortment of more than 25,000 items from over 600 brands. Ulta Beauty also distributes its own brand, sold under the same name, which today represents nearly 6% of sales in terms of revenue. The group is experiencing significant growth and its territorial implementation strategy is exemplary. More than 350 stores under its own name have been opened over the last five years and a strategic partnership with the American retailer Target has enabled the opening of around 100 shop-in-shops. This expansion, unlike some of its peers, has not been at the expense of profitability. Regular share buybacks and the defensive but growth-oriented nature of the company support the stock. +  + +Source: Ulta Beauty +Vertex Pharmaceuticals +Vertex Pharmaceuticals is an American pharmaceutical company specializing in the research and development of drugs for the treatment of cancer, viral, inflammatory and autoimmune diseases. Numerous treatments are in development and the pipeline is full. These include the promising VX-522 in co-location with Moderna to treat cystic fibrosis patients and Exa-cel in collaboration with CRISPR Therapeutics to treat sickle cell disease and beta thalassemia, which is in late Phase 3 and is expected to be completed in Q1 2023. Vertex Pharmaceuticals has capitalized on its cystic fibrosis treatments to invest in new high-potential treatments, including cystic fibrosis. Revenues should continue to grow in the coming years and 2023 will certainly be a good year for Vertex. Beyond the potential, the company's outstanding profitability and healthy financial position make it a defensive growth stock to be favored in times of recession +. + +Source: Vertex Pharmaceuticals +Cal-Maine Foods +What is more boring than an egg company? Cal-Maine Foods is the largest U.S. egg producer in the United States. Its operations include hatching chicks, raising and maintaining flocks of pullets, layers and breeders, manufacturing feed, and producing, processing, packing and distributing shell eggs. Boring. But hey, what we're interested in is what's behind the appearances. The company is taking advantage of the HPAI epidemic that has caused egg prices to spike by more than 30% in 2022 in the US. The company supplies most US retailers, including Walmart, who regularly buy fresh eggs (this ensures regular revenue). The last few quarters have been exceptional as this price increase has boosted the Ridgeland firm's net margins to 24.8% in Q3 2022. Everyone seems to agree that this won't last forever. I'm pretty much in favor of this idea, but it may not be for a while yet. 2023 should be another great year, especially the first half of the year. The company should continue to benefit from high egg prices. Momentum is good and earnings revisions continue to be bullish. +. + +Source: Cal-Maine Foods +You notice that this Momentum Picks portfolio is well balanced across 5 sectors (consumer staples with Cal-Maine, healthcare with Vertex, consumer discretionary with Ulta, technology with Microchip and industrials with Paccar). We shall meet again at the end of March 2023 to review its progress and propose a selection for the following quarter. +  diff --git a/news/AVGO/2023.01.05/FocalPoint Announces Strategic Investment from GM Ventures, Collaboration with General...txt b/news/AVGO/2023.01.05/FocalPoint Announces Strategic Investment from GM Ventures, Collaboration with General...txt new file mode 100644 index 0000000000000000000000000000000000000000..ac8d5b17432f87fae42096f029312fb97e2b2e1d --- /dev/null +++ b/news/AVGO/2023.01.05/FocalPoint Announces Strategic Investment from GM Ventures, Collaboration with General...txt @@ -0,0 +1 @@ +Cambridge, UK: FocalPoint, the UK software company which provides next generation positioning solutions for mobiles, wearables and vehicles, has announced a strategic investment from GM Ventures, the venture capital arm of General Motors (NYSE: GM), and a collaboration with GM to explore the application of next generation GPS technologies to the automotive market.FocalPoint's SupercorrelationTM technology addresses the critical issue of GPS inaccuracies from current receivers in cities, bringing navigation positioning better in line with modern customer and business demands. The collaboration with GM will focus on possible application of the technology in future vehicles, including potential enhancements and expansion of its Super Cruise advanced hands-free driving assistance technology and its upcoming Ultra Cruise advanced driver assistance system in the coming years.Overview? Technology revolutionizes the accuracy and security of GPS and other global navigation satellite systems in dense urban areas? Companies to collaborate on potential application of SupercorrelationTM in EVs and AVs? Technology redefines the state of the art for safety and reliability of positioning"FocalPoint's Supercorrelation technology can make navigation and positioning more precise, especially in dense urban environments, which we believe can have significant benefits for the ongoing growth and capability of ADAS and AV systems," said Scott Pomerantz, FocalPoint CEO. "We're delighted to expand our advanced technology into the automotive sector with GM, a leader in advanced driver assistance systems.""We're constantly researching technologies to support and enhance the growth and performance of our vehicles, both within our internal research and development operations and through collaborations with innovators beyond our company," said Kent Helfrich, President, GM Ventures. "This collaboration with FocalPoint targets a specific aspect of the ongoing expansion of Super Cruise and Ultra Cruise going forward."FocalPoint was founded to address the critical issue of GPS inaccuracies of current receivers and bring navigation and positioning better in line with the demands of businesses and individuals in the 21st century.This latest investment follows the announcement in September of a Series C funding round of £23m, led by Molten Ventures and Gresham House Ventures. FocalPoint has also secured funding from the European Space Agency's NAVISP programme to develop a live demonstration and rapid prototyping system to accelerate FocalPoint's activities in the automotive and mobile sector.Having already licensed some of its technologies to u-blox (SWX:UBXN), the leading European manufacturer of wireless communication and positioning technologies, for use in their GNSS receivers, this collaboration signifies the first steps into the booming automotive market.Currently, over a trillion dollars of the US economy and over 800 billion euros of the European economy depend on positioning and timing systems.Solving the critical issue of GPS inaccuracy and spoofing FocalPoint's groundbreaking SupercorrelationTM technology enables a new class of satellite positioning receiver that can measure the directions of the incoming signals, allowing them to ignore reflected signals and fake 'spoofed' signals, making them more accurate in cities and more resilient against spoofing attacks.Spoofing is used by criminal networks, maritime pirates, and fraudsters to broadcast fake satellite signals and confuse the receiver. This is a critical threat to business and consumers, particularly as the criminals become more sophisticated and the cost of spoofing technology comes down.FocalPoint's unique technology can instantly detect fake signals as spoofers, ignore those signals, and pinpoint where in the physical environment the signal is coming from. It is the only consumer-grade product in the market capable of these unique performance characteristics."This is a major milestone for FocalPoint as we work with General Motors to explore the deployment of our technologies in EVs and AVs. Accurate positioning for autonomous cars and driver assistance platforms is an opportunity for the industry and we are proud to be providing a much-needed solution," commented Ramsey Faragher, FocalPoint Founder, President and CTO.In the last year, FocalPoint has almost doubled its headcount across its offices spanning the UK and US and brought in former Broadcom SVP Scott Pomerantz as its new Chief Executive Officer alongside other senior executives with deep experience in building and scaling technology firms.Media Contact:James Lambertjames@intelligentpr.co.ukTEL: (+44) 7528006746Notes for Editors? Supercorrelation(TM) is a patented, chipset-level software product developed by FocalPoint for mobiles, wearables, and vehicles - increasing the positioning accuracy in urban environments by a factor of 10. It requires no extra hardware or infrastructure and is therefore a cost efficient and environmentally friendly option by reducing the requirement for high cost antennas and reducing power consumption.? GNSS stands for Global Navigation Satellite System - a blanket term to describe systems that include GPS, Galileo, BeiDou, Glonass.? Developed and launched by the US military in the 1980s, GPS became fully operational in 1993.? Other nations have launched similar systems: Russia's GLONASS, China's BeiDou and Europe's Galileo, along with smaller regional services.? 1.8bn GPS chipsets were shipped in 2019, this is expected to grow to 2.8bn by 2029, with the majority of growth coming from receivers for autonomy, road and drone (source).? A US Government study in 2019 estimated the economic benefits of the US Global Positioning System at $1.4 trillion.? GNSS technology touches almost every part of today's interconnected world and economy. A 2017 US government study estimated that the loss of GPS service would average a $1 billion per-day impact to the nation (reference).? Inaccurate satellite positioning in cities is caused by obscured, reflected and weak satellite signals due to surrounding buildings, resulting in positioning and timing errors on GPS and other GNSS-dependent devices.? Recent coverage on GPS Spoofing and safety issues in WSJ, The Times, New York TimesAbout FocalPointFocalPoint develops technologies that redefine the positioning of any mobile device including Smartphones, wearables, and autonomous vehicles. Their mission is to improve the accuracy and reliability of every mobile device that touches the lives of almost every person on the planet.FocalPoint was founded in 2015 by Dr. Ramsey Faragher. The team includes alumni from Broadcom (NASDAQ:AVGO), BAE Systems (LSE:BA), The European Space Agency, and the Universities of Cambridge, Oxford, UCL and Imperial College. It has offices in the UK and the US where their research and technical teams are recognised by the UK Royal Institute of Navigation and the US Institute of Navigation for their pioneering innovations.Its SupercorrelationTM technology is currently licensed to u-blox (SWX:UBXN) and is in advanced trials with several major device manufacturers. Investors include Molten Ventures, Gresham House, Passion Capital, IQ Capital, Cambridge Angels, Rockspring Nominees, Cambridge Innovation Capital, and DeepMind Founder Demis Hassabis..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AVGO/2023.01.09/Apple Plans To Drop Key Broadcom Chip To Use In-House Design- Bloomberg News.txt b/news/AVGO/2023.01.09/Apple Plans To Drop Key Broadcom Chip To Use In-House Design- Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..eae4c60f266d6b1f04ccb4d6ece7f8beea58ca7f --- /dev/null +++ b/news/AVGO/2023.01.09/Apple Plans To Drop Key Broadcom Chip To Use In-House Design- Bloomberg News.txt @@ -0,0 +1,8 @@ +Jan 9 (Reuters) -* APPLE PLANS TO DROP KEY BROADCOM CHIP TO USE IN-HOUSE +DESIGN- +BLOOMBERG NEWS* APPLE IS ALSO SWAPPING OUT QUALCOMM FOR HOMEGROWN MODEM - +BLOOMBERG NEWS* APPLE ALSO AIMS TO READY ITS FIRST CELLULAR MODEM CHIP BY +THE +END OF 2024 OR EARLY 2025 - BLOOMBERG NEWS +Source text [https://bit.ly/3Zlxvjg] +Further company coverage: \ No newline at end of file diff --git "a/news/AVGO/2023.01.09/Apple plans to drop key broadcom chip to use in-house design- bl\342\200\246.txt" "b/news/AVGO/2023.01.09/Apple plans to drop key broadcom chip to use in-house design- bl\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c3f7ca25a4f15d220cc3ea4c399e510ca48f146d --- /dev/null +++ "b/news/AVGO/2023.01.09/Apple plans to drop key broadcom chip to use in-house design- bl\342\200\246.txt" @@ -0,0 +1 @@ +APPLE PLANS TO DROP KEY BROADCOM CHIP TO USE IN-HOUSE DESIGN- BLOOMBERG NEWS \ No newline at end of file diff --git a/news/AVGO/2023.01.09/Apple to drop key Broadcom chip in 2025 for in-house design - Bloomberg News.txt b/news/AVGO/2023.01.09/Apple to drop key Broadcom chip in 2025 for in-house design - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..0a5709495e65947c27dabae7634c3070bbd1ed38 --- /dev/null +++ b/news/AVGO/2023.01.09/Apple to drop key Broadcom chip in 2025 for in-house design - Bloomberg News.txt @@ -0,0 +1 @@ +The iPhone-maker is also swapping out Qualcomm Inc for homegrown modems, according to the report.Apple, Broadcom and Qualcomm did not immediately reply to Reuters' requests for comments. (Reporting by Yuvraj Malik in Bengaluru) \ No newline at end of file diff --git a/news/AVGO/2023.01.09/S&P 500 near flat as investors weigh chances of less aggressive rate hikes.txt b/news/AVGO/2023.01.09/S&P 500 near flat as investors weigh chances of less aggressive rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..47ceaf1dfa5ec2a736ac5a057d2c3c79c94325db --- /dev/null +++ b/news/AVGO/2023.01.09/S&P 500 near flat as investors weigh chances of less aggressive rate hikes.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tech shares gain*Macy's, Lululemon drop on holiday-quarter warnings*Indexes: Dow down 0.3%, S&P 500 down 0.1%, Nasdaq up 0.6%NEW YORK, Jan 9 (Reuters) - The S&P 500 index +erased early gains to close nearly flat on Monday as +expectations that the Federal Reserve will become less +aggressive with its interest rate hikes were offset by lingering +worries about inflation.The Dow ended lower, and the Nasdaq Composite ended +well off the day's highs.Investors are awaiting comments Tuesday from Fed Chair +Jerome Powell, who some strategists expect could say more time +is needed to show inflation is under control.Money market bets were showing 77% odds of a 25-basis point +hike in the Fed's February policy meeting.A consumer prices report due Thursday could be key for rate +expectations, said Quincy Krosby, chief global strategist, LPL +Financial in Charlotte, North Carolina. "The CPI report this +week is going to be essential for fine-tuning the Fed funds +futures market."Investors also may have sold some shares after recent +strong market gains, said Paul Nolte, portfolio manager at +Kingsview Investment Management in Chicago. "You're seeing a +little bit of profit-taking ahead of the CPI number due out this +week."The technology sector gained as Treasury yields +fell. Consumer discretionary stocks also rose, with +Amazon.com Inc up 1.5% after Jefferies said it saw cost +pressures easing for the e-commerce giant in the second half of +the year.Also, S&P 500 companies are about to kick off the +fourth-quarter earnings period, with results from top U.S. banks +expected later this week.The Dow Jones Industrial Average fell 112.96 points, +or 0.34%, to 33,517.65, the S&P 500 lost 2.99 points, or +0.08%, to 3,892.09 and the Nasdaq Composite added 66.36 +points, or 0.63%, to 10,635.65.Shares of Broadcom Inc fell in late trading to end +down 2% after Bloomberg, citing people familiar with the matter, +reported that Apple Inc plans to drop a Broadcom chip +in 2025 and use an in-house design instead.Friday's jobs report, which showed a moderation in wage +increases, lifted hopes that the Fed might become less +aggressive in its rate-hike push to reduce inflation.Tesla Inc shares rose 5.9% after the +electric-vehicle maker indicated longer waiting times for some +versions of the Model Y in China, signaling the recent price +cuts could be stoking demand.Macy's Inc fell 7.7% and Lululemon Athletica Inc +dropped 9.3% after both retailers issued disappointing +holiday-quarter forecasts.Volume on U.S. exchanges was 11.35 billion shares, compared +with the 10.90 billion average for the full session over the +last 20 trading days.Advancing issues outnumbered decliners on the NYSE by a +1.85-to-1 ratio; on Nasdaq, a 1.48-to-1 ratio favored advancers.The S&P 500 posted 13 new 52-week highs and two new +lows; the Nasdaq Composite recorded 129 new highs and 32 new +lows. +(Additional reporting by Shubham Batra, Amruta Khandekar and +Ankika Biswas in Bengaluru; Editing by Shounak Dasgupta and +Richard Chang) \ No newline at end of file diff --git a/news/AVGO/2023.01.10/Apple to start using in-house screens from 2024 - Bloomberg News.txt b/news/AVGO/2023.01.10/Apple to start using in-house screens from 2024 - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..de7edcf3506299bfb382c9095350e6db95984b00 --- /dev/null +++ b/news/AVGO/2023.01.10/Apple to start using in-house screens from 2024 - Bloomberg News.txt @@ -0,0 +1,19 @@ +Jan 10 (Reuters) - Apple Inc is planning to +start using its own custom displays in its mobile devices from +2024 onwards in an attempt to bring more components in-house, +Bloomberg News reported on Tuesday, citing people with knowledge +of the matter.The company intends to begin by swapping out the display in +the highest-end Apple Watches by the end of next year. Apple +plans to eventually bring these displays to other devices as +well, including the iPhone, according to the report.The Cupertino, California-based tech giant is aiming to +reduce its reliance on other partners such as Samsung +Electronics and LG Corp.Apple did not immediately respond to a Reuters' request for +comment, while Samsung Display, a unit of Samsung Electronics +, and LG Display declined to comment.The report added that the screens would upgrade the current +OLED standard to a technology called microLED.Bloomberg News had reported on Monday that Apple plans to +replace Broadcom Inc chips from its devices with an +in-house design in 2025.The iPhone maker has been working to limit its reliance +on other chipmakers, having moved to its own line of chips for +recent models of its Mac computers, replacing those from Intel +Corp.(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Sherry +Jacob-Phillips) \ No newline at end of file diff --git a/news/AVGO/2023.01.10/MarketScreener's World Press Review: January 10.txt b/news/AVGO/2023.01.10/MarketScreener's World Press Review: January 10.txt new file mode 100644 index 0000000000000000000000000000000000000000..4bed09fd8aed18aff6287b521ecab839365e9c89 --- /dev/null +++ b/news/AVGO/2023.01.10/MarketScreener's World Press Review: January 10.txt @@ -0,0 +1,11 @@ + +AstraZeneca, CinCor, Bayer, Lukoil, Morgan Stanley, Rite Aid, Cargill, CureVac, Novavax, Harmony Biosciences & Sanofi, Pfizer & Zhejiang Huahai, Lululemon, American Eagle Outfitters, Abercrombie & Fitch, Intel, Apple, Broadcom, Qualcomm, Inari Amertron, Walt Disney, Microsoft, Coca-Cola, PepsiCo, Bed Bath & Beyond, Lockheed Martin, Fujitsu feature in this press review! + + + + +  + +  +  +  diff --git a/news/AVGO/2023.01.10/Sotera Health, Coinbase rise; Broadcom falls.txt b/news/AVGO/2023.01.10/Sotera Health, Coinbase rise; Broadcom falls.txt new file mode 100644 index 0000000000000000000000000000000000000000..48f376235653b7808d913b8b583567117352c7c2 --- /dev/null +++ b/news/AVGO/2023.01.10/Sotera Health, Coinbase rise; Broadcom falls.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Tuesday:Bed Bath & Beyond Inc., up 45 cents to $2.07.The home goods retailer said it will slash an additional $80 million to $100 million in costs across the company, including an unspecified number of layoffs.Coinbase Global Inc., up $4.96 to $43.23.The cryptocurrency trading platform is cutting approximately 20% of its workforce in a second round of layoffs in less than a year.Microsoft Corp., up $1.73 to $228.85.The technology company is reportedly considering a $10 billion investment in chatbot creator OpenAI.Sotera Health Co., up $8.61 to $17.25.The lab testing services company announced a $408 million settlement over allegations of pollution at an industrial plant in Illinois.Oak Street Health Inc., up $6.20 to $28.77.CVS is reportedly considering buying the operator of primary care centers.Inari Medical Inc., up $3.56 to $67.56.The medical device company gave investors an encouraging financial update.Urban Outfitters Inc., up $2.20 to $27.66.The clothing and accessories retailer gave investors an encouraging holiday sales report.Broadcom Inc., down $1.96 to $574.93.Apple will reportedly replace a component made by the chipmaker with one developed in-house.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/AVGO/2023.01.10/Stocks rise as Powell remarks avoid rate policy.txt b/news/AVGO/2023.01.10/Stocks rise as Powell remarks avoid rate policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..725e90947dd30783d7a71b5d128716451e66c5e2 --- /dev/null +++ b/news/AVGO/2023.01.10/Stocks rise as Powell remarks avoid rate policy.txt @@ -0,0 +1 @@ +The Dow ended half a percent higher. The S&P 500 finished up seven tenths of a percent, while the Nasdaq rose a full percent.Powell said at a forum sponsored by the Swedish central bank that the Fed's independence is essential for it to battle inflation, but he offered no clues on future interest rate hikes. George Ball is chairman of Sanders Morris Harris. "He was quite careful not to say anything that would tip his hand or tip his hand differently as to the monetary policy so that there was no new light shed on what the Fed may do next. And that's really the big question right now. Everybody wants direction from the Fed, and that direction may be a year or a year and a half off... Right now, the Fed is going to stay hawkish in tone. They are going to stay even handed and will raise rates in more moderate steps, but raise rates to something like a 5% or 5.25% level over the first half of the year. And then we'll probably just keep it there for a long time until circumstances change substantially."Tech shares, including Amazon and Microsoft, gave the S&P 500 its biggest boost on Tuesday. Shares of Broadcom fell, but pared much of the losses by the close, after a report said Apple plans to replace a Broadcom chip from its devices with an in-house design in 2025.Shares of investment bank Jefferies Financial rose, a day after it posted its second-best year for investment banking revenue.And shares of Bed Bath & Beyond jumped more than 27% as retail investors speculated it could be a potential acquisition target and as short-sellers closed out their bets on the stock falling.The struggling retailer on Tuesday also said it will lay off more employees in an attempt to reduce costs, a week after announcing it was considering filing for bankruptcy. \ No newline at end of file diff --git a/news/AVGO/2023.01.10/Wall St climbs; Powell comments avoid rate policy.txt b/news/AVGO/2023.01.10/Wall St climbs; Powell comments avoid rate policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..3c0a4566d8d260f6ba1fb02d34c5de26685da83e --- /dev/null +++ b/news/AVGO/2023.01.10/Wall St climbs; Powell comments avoid rate policy.txt @@ -0,0 +1,35 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Investors await CPI data Thursday*Indexes up: Dow 0.4%, S&P 500 0.5%, Nasdaq 0.8%NEW YORK, Jan 10 (Reuters) - U.S. stocks edged higher in +afternoon trading Tuesday, led by big growth shares, on relief +that Federal Reserve Chair Jerome Powell refrained in a speech +from commenting on rate policy.In his first public appearance of the year,Powell said at a forum sponsored by the Swedish central bank +that the Fed's independence is essential for it to battle +inflation.Recent comments by other Fed officials have supported the +view that the central bank needs to remain aggressive in raising +interest rates to control inflation. Fed Governor Michelle +Bowman said on Tuesday the bank will have to raise interest +rates further to combat high inflation.Investors anxiously awaited the U.S. consumer prices index +report Thursday, which is expected to show some moderation in +year-on-year prices in December."There are some indications that inflation is slowing +significantly. What investors are really looking for is a gap +down in major inflation data that could probably get the Fed's +attention," said Tim Ghriskey, senior portfolio strategist at +Ingalls & Snyder in New York.Traders are betting on a 25-basis point rate hike at the +Fed's upcoming policy meeting in February.Communications services and consumer discretionary +were among the day's best performers among sectors.The Dow Jones Industrial Average rose 119.1 points, +or 0.36%, to 33,636.75, the S&P 500 gained 20.54 points, +or 0.53%, to 3,912.63 and the Nasdaq Composite added +82.96 points, or 0.78%, to 10,718.61.Amazon.com Inc and Microsoft Corp gave the +S&P 500 its biggest boost.Some investors are hoping for signs that the Fed may soon +take a break after raising the federal funds rate seven times in +2022.The World Bank on Tuesday slashed its 2023 growth forecasts +on Tuesday to levels teetering on the brink of recession for +many countries as the impact of central bank rate hikes +intensifies.Broadcom Inc shares fell, a day after a report that +Apple Inc plans to replace a Broadcom chip from its +devices with an in-house design in 2025.Advancing issues outnumbered decliners on the NYSE by a +2.06-to-1 ratio; on Nasdaq, a 2.31-to-1 ratio favored advancers.The S&P 500 posted two new 52-week highs and no new lows; +the Nasdaq Composite recorded 54 new highs and 25 new lows. +(Additional reporting by Ankika Biswas, Amruta Khandekar and +Johann M Cherian in Bengaluru; Editing by Shinjini Ganguli, +Shounak Dasgupta and Richard Chang) \ No newline at end of file diff --git a/news/AVGO/2023.01.10/Wall St ends higher; Powell comments avoid rate policy.txt b/news/AVGO/2023.01.10/Wall St ends higher; Powell comments avoid rate policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..335626839426a533aee389b6bc4754609a9b02b9 --- /dev/null +++ b/news/AVGO/2023.01.10/Wall St ends higher; Powell comments avoid rate policy.txt @@ -0,0 +1,39 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Investors await CPI data Thursday*U.S. earnings season begins this week*Jefferies shares rise after resultsNEW YORK, Jan 10 (Reuters) - U.S. stocks ended higher on +Tuesday on relief that Federal Reserve Chair Jerome Powell +refrained in a speech from commenting on rate policy.In his first public appearance of the year,Powell said at a forum sponsored by the Swedish central bank +that the Fed's independence is essential for it to battle +inflation.Recent comments by other Fed officials have supported the +view that the central bank needs to remain aggressive in raising +interest rates to control inflation. Fed Governor Michelle +Bowman said on Tuesday the bank will have to raise interest +rates further to combat high inflation."Everybody hangs on every word from the Fed," said Tim +Ghriskey, senior portfolio strategist at Ingalls & Snyder in New +York. Powell "didn't really say anything" about policy, he +added.Investors anxiously awaited the U.S. consumer prices index +report Thursday, which is expected to show some moderation in +year-on-year prices in December.Traders are betting on a 25-basis point rate hike at the +Fed's upcoming policy meeting in February."There are some indications that inflation is slowing +significantly. What investors are really looking for is a gap +down in major inflation data that could probably get the Fed's +attention," Ghriskey said.Communications services was among the day's +best-performing sectors, while energy rose along with +oil prices.Unoffically, the Dow Jones Industrial Average +rose 187.9 points, or 0.56%, to 33,705.55, the S&P 500 +gained 27.32 points, or 0.70%, to 3,919.41 and the Nasdaq +Composite added 106.98 points, or 1.01%, to 10,742.63.This week marks the start of the fourth-quarter earnings +season for S&P 500 companies, with results from several of Wall +Street's biggest banks due later this week.Shares of investment bank Jefferies Financial Group +rose on Tuesday, a day after itpostedits second-best year for investment banking revenue. It +also reported a 52.5% slump in fourth-quarter profit.Analysts expect overall S&P 500 earnings to have +declined 2.2% in the fourth quarter from a year ago as worries +about rising rates and the economy mount, according to IBES data +from Refinitiv.Some investors are hoping for signs that the Fed may soon +take a break after raising the federal funds rate seven times in +2022.The World Bank on Tuesday slashed its 2023 growth forecasts +on Tuesday to levels teetering on the brink of recession for +many countries as the impact of central bank rate hikes +intensifies. +(Additional reporting by Ankika Biswas, Amruta Khandekar and +Johann M Cherian in Bengaluru; Editing by Shinjini Ganguli, +Shounak Dasgupta and Richard Chang) \ No newline at end of file diff --git a/news/AVGO/2023.01.10/Wall St rises as Fed's Powell steers clear of monetary policy outlook.txt b/news/AVGO/2023.01.10/Wall St rises as Fed's Powell steers clear of monetary policy outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a237688590975620c26af4f8ea4346f7d0d6c64 --- /dev/null +++ b/news/AVGO/2023.01.10/Wall St rises as Fed's Powell steers clear of monetary policy outlook.txt @@ -0,0 +1,41 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Broadcom falls on report of Apple's plan to replace chip*Indexes up: Dow 0.08%, S&P 0.07%, Nasdaq 0.16%Jan 10 (Reuters) - Wall Street's main indexes rose on +Tuesday as Federal Reserve Chair Jerome Powell steered clear of +commenting on the monetary policy outlook, with focus turning to +an upcoming inflation reading scheduled for later this week.Powell's remarks, which offered no clues on the Fed's plans +for future tightening, came as a major relief after two other +policymakers on Monday injected a note of caution over the +interest rate outlook."He (Powell) hasn't disrupted the market in any way and the +fact that he stresses the need for political independence while +tackling inflation, that's a definite positive for the markets," +said Peter Cardillo, chief market economist at Spartan Capital +Securities, New York.Traders held on to bets of a 25-basis point rate hike at the +U.S. central bank's upcoming policy meeting in February, with +the terminal rate seen slightly below 5% by June.Markets have been hoping that the Fed could soon signal an +end to its rate hiking cycle following recent signs of a +slowdown in the U.S. economy, even as policymakers reiterate the +central bank's priority to bring inflation under control."The Fed has a little bit more tightening to do," said David +Russell, vice president of market intelligence at TradeStation +Group, adding that Thursday's inflation report will be crucial +in shaping interest rate expectations.The much-awaited consumer prices index (CPI) report from the +U.S. Labor Department is expected to show some moderation in +year-on-year prices in December.The Fed's aggressive monetary policy tightening to curb +decades-high inflation hammered U.S. equities in 2022, with the +three main indexes logging their steepest annual declines since +2008.Fed Governor Michelle Bowman said on Tuesday the U.S. +central bank will have to raise interest rates further to combat +high inflation.Among major S&P 500 sectors, retailers were up 0.8% +and in the lead, while consumer discretionary stocks +rose 0.2%, with Amazon.com Inc driving gains in both +the subindexes.Healthcare stocks rose 0.5% and were also a major +boost to the benchmark S&P 500 index.At 11:59 a.m. ET, the Dow Jones Industrial Average +was up 28.41 points, or 0.08%, at 33,546.06, the S&P 500 +was up 2.71 points, or 0.07%, at 3,894.80, and the Nasdaq +Composite was up 17.25 points, or 0.16%, at 10,652.90.Broadcom Inc fell 3.4% on a report that Apple Inc +plans to replace a Broadcom chip from its devices with +an in-house design in 2025.Advancing issues outnumbered decliners for a 1.17-to-1 ratio +on the NYSE and a 1.62-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week high and no new low, +while the Nasdaq recorded 37 new highs and 20 new lows. +(Reporting by Ankika Biswas, Amruta Khandekar and Johann M +Cherian in Bengaluru; Editing by Shinjini Ganguli and Shounak +Dasgupta) \ No newline at end of file diff --git a/news/AVGO/2023.01.10/Wall St rises as Powell gives no clear comment on monetary policy outlook.txt b/news/AVGO/2023.01.10/Wall St rises as Powell gives no clear comment on monetary policy outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9058acdcd81e18920febd9a2d79bd3e067f3397 --- /dev/null +++ b/news/AVGO/2023.01.10/Wall St rises as Powell gives no clear comment on monetary policy outlook.txt @@ -0,0 +1,39 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window.)*Powell steers clear of monetary policy outlook*Microsoft up on report of investment talks*Boeing down on report of rating downgrade*Indexes up: Dow 0.33%, S&P 0.42%, Nasdaq 0.70%Jan 10 (Reuters) - Wall Street's main indexes edged +higher on Tuesday, boosted by gains in Microsoft and Amazon, as +investors assessed commentary from Federal Reserve Chair Jerome +Powell that steered clear of the monetary policy outlook.Microsoft Corp rose 1.2% after a report stated the +software company was in talks to invest $10 bln in ChatGPT +creator OpenAI.The gains pushed up the S&P 500 information technology +sector 0.3%, while a 1.6% rise in Amazon boosted the +consumer discretionary sector.Boeing Co dipped 1.3%, pressuring the Dow Jones +, on a report that Morgan Stanley downgraded the U.S. +planemaker's rating to "equal weight" from "overweight".The U.S. central bank's independence from political +influence is central to its ability to battle inflation, Powell +said on Tuesday.Powell's remarks failed to assuage investors rattled by +remarks from two other Federal Reserve policymakers on Monday.The comments had dampened hopes that inflation in the United +States had peaked and the Fed may soon signal an end to its rate +hiking cycle, bolstered by data last week that showed a +moderation in wage increases."He (Powell) hasn't disrupted the market in any way and the +fact that he stresses the need for political independence while +tackling inflation, that's a definite positive for the markets," +said Peter Cardillo, chief market economist at Spartan Capital +Securities, New York."But he has not touched upon or given hints about what the +Fed is going do in the future on rates."Money market bets of a 25-bps hike to in the Fed's upcoming +policy meeting were unchanged at 75%, with the terminal rate +seen slightly below 5% by June.Investors are now keenly awaiting the U.S. Labor +Department's consumer prices report on Thursday. It is expected +to show some moderation in year-on-year consumer prices in +December.The Fed's aggressive monetary policy tightening to curb +decades-high inflation hammered U.S. equities in 2022, with the +three main indexes logging their steepest annual declines since +2008.At 10:18 a.m. ET, the Dow Jones Industrial Average +was up 111.74 points, or 0.33%, at 33,629.39, the S&P 500 +was up 16.52 points, or 0.42%, at 3,908.61, and the Nasdaq +Composite was up 74.50 points, or 0.70%, at 10,710.15.Broadcom Inc fell 3.3% on a report that Apple Inc +plans to replace the former's chip from its devices +with an in-house design in 2025.Advancing issues outnumbered decliners by a 1.32-to-1 ratio +on the NYSE and by a 1.75-to-1 ratio on the Nasdaq.The S&P index recorded 1 new 52-week high and no new lows, +while the Nasdaq recorded 27 new highs and 14 new lows. +(Reporting by Ankika Biswas and Amruta Khandekar ; Editing by +Shinjini Ganguli) \ No newline at end of file diff --git a/news/AVGO/2023.01.12/Apple's diversification strategy makes its first victims.txt b/news/AVGO/2023.01.12/Apple's diversification strategy makes its first victims.txt new file mode 100644 index 0000000000000000000000000000000000000000..2469cd8c8e2e1ea9f95718344ff9bff3443416d5 --- /dev/null +++ b/news/AVGO/2023.01.12/Apple's diversification strategy makes its first victims.txt @@ -0,0 +1,8 @@ + +Whether it is the Chinese subcontractor Foxconn or semiconductor manufacturers Intel, Broadcom or Qualcomm, all have suffered in recent months from the strategic changes of the iPhone maker. +Indeed, Bloomberg revealed on Monday that Apple wants to replace Broadcom's chips with an internal design by 2025. This is a tough pill to swallow for the San Jose-based group, whose 20% of revenues depend on the Cupertino firm, its biggest customer. The same goes for Qualcomm: Apple would like to replace its cellular chips with its own production by the end of 2024. As for Intel's chips, it's already partly done. Tim Cook's group has adopted its own range of semiconductors for its Mac computers. The idea behind this is to create more and more "home-made" electronic gadgets and to increase (even more) its already record margins (the operating margin is 30.3% in 2022). +The tech giant's choices have major consequences on its suppliers. Last autumn, the Taiwanese behemoth Foxconn took the full brunt of Apple's decision to entrust part of the Chinese production to Luxshare Precision. A kind of punishment after the protests that agitated the Foxconn factory during this period. In this little game, the big winner is obviously Apple, since putting subcontractors in competition allows it to lower prices. + + + +Drawing by Amandine Victor, for MarketScreener diff --git a/news/AVGO/2023.01.17/U.S. Supreme Court asks for govt views on blockbuster Apple|Caltech patent dispute.txt b/news/AVGO/2023.01.17/U.S. Supreme Court asks for govt views on blockbuster Apple|Caltech patent dispute.txt new file mode 100644 index 0000000000000000000000000000000000000000..e6cf9c247175b52428a35c8b28067cb44bb726bc --- /dev/null +++ b/news/AVGO/2023.01.17/U.S. Supreme Court asks for govt views on blockbuster Apple|Caltech patent dispute.txt @@ -0,0 +1 @@ +The justices asked for the U.S. Solicitor General's input on a lower court decision that prevented Apple and Broadcom from arguing the patents were invalid at trial.Representatives for the parties did not immediately respond to requests for comment.Caltech, located in Pasadena, California, sued Cupertino-based Apple and San Jose-based Broadcom in 2016 in federal court in Los Angeles, alleging that millions of iPhones, iPads, Apple Watches and other devices with Broadcom Wi-Fi chips infringed its data-transmission patents. A jury ruled for Caltech, ordering Apple to pay $837.8 million and Broadcom to pay $270.2 million. The U.S. Court of Appeals for the Federal Circuit took issue with the amount of the award and sent the case back for a new trial on damages, which is set to begin in June.Apple and Broadcom also told the Federal Circuit that they should have been allowed to challenge the patents' validity at trial. The patent-focused appeals court upheld the trial judge's decision to block the companies from making the arguments because they could have raised them in their petitions for U.S. Patent and Trademark Office review of the patents.The companies appealed that decision to the Supreme Court last September. They told the justices that the Federal Circuit misread the law, which they said only bars arguments that could have been raised during the review itself, not in the petition.Caltech has also sued Microsoft Corp, Samsung Electronics Co, Dell Technologies Inc and HP Inc, accusing them of infringing the same patents in separate cases that are still pending.Apple is a major purchaser of Broadcom chips, and in January 2020 reached a $15 billion supply agreement with the company. Apple reportedly plans to replace Broadcom's chips with an in-house design in 2025.Broadcom has estimated that 20% of its revenue comes from Apple.The case is Apple Inc v. California Institute of Technology, U.S. Supreme Court, No. 22-203.For Apple and Broadcom: Bill Lee of Wilmer Cutler Pickering Hale & DorrFor Caltech: Kathleen Sullivan of Quinn Emanuel Urquhart & Sullivan Read more:Apple, Broadcom win new trial in $1.1 bln Caltech patent caseCalTech wins $1.1 billion jury verdict in patent case against Apple, BroadcomBy Blake Brittain \ No newline at end of file diff --git a/news/AVGO/2023.01.20/Samsung loses bid to pause Caltech patent lawsuit over wireless chips.txt b/news/AVGO/2023.01.20/Samsung loses bid to pause Caltech patent lawsuit over wireless chips.txt new file mode 100644 index 0000000000000000000000000000000000000000..1367ddb3012e7f00a4a9609f4afe57c66ebdba2f --- /dev/null +++ b/news/AVGO/2023.01.20/Samsung loses bid to pause Caltech patent lawsuit over wireless chips.txt @@ -0,0 +1 @@ +U.S. District Judge Rodney Gilstrap said halting the lawsuit until the Patent Trial and Appeal Board reviews the patents would unnecessarily delay the court case and prejudice Caltech. Caltech had no comment on the decision. Representatives for Samsung and Caltech did not immediately respond to a request for comment.Caltech sued Samsung after it won a $1.1 billion California jury verdict in 2020 against Apple and Broadcom in a dispute over some of the same patents. A U.S. appeals court tossed the verdict last year and remanded for a new trial on damages.The school's 2021 lawsuit alleges Samsung's Galaxy phones, tablets, watches and Wi-Fi-enabled Samsung products like televisions and refrigerators infringe its data-transmission patents.Caltech has separately sued Microsoft, Dell and HP over the patents. Samsung challenged their validity at the USPTO last year. Samsung asked the Texas court to freeze Caltech's case against it until the reviews finish, arguing the lawsuit was at an early stage and the PTAB decisions would simplify the issues.But Gilstrap said Friday that pausing the case would "do nothing more than draw out the time to trial," and that he could not determine whether the PTAB challenges would simplify the lawsuit because the board had not yet decided whether to hear them.Gilstrap also said a pause would "require the parties to sink additional resources into the case," which has already been going on for over a year, "all the while postponing Caltech's vindication of its patent rights."The Texas case is scheduled to go to trial in September. The board's final decisions on patent validity would be due in November.The case is California Institute of Technology v. Samsung Electronics Co, U.S. District Court for the Eastern District of Texas, No. 2:21-cv-00446.For Caltech: Dan Shih, Kalpana Srinivasan, Shawn Blackburn, Daniel Wilson and Tamar Lusztig of Susman GodfreyFor Samsung: Greg Arovas, Robert Appleby, Ed Donovan, Chris Mizzo, Mike Pearson, John Rhine, Nichole DeJulio, and Eric Hayes of Kirkland & EllisRead more:After winning $1 bln in Apple case, Caltech sues Samsung over same patentsCalTech wins $1.1 billion jury verdict in patent case against Apple, BroadcomApple, Broadcom win new trial in $1.1 bln Caltech patent caseU.S. Supreme Court asks for gov't views on blockbuster Apple/Caltech patent disputeBy Blake Brittain \ No newline at end of file diff --git a/news/AVGO/2023.01.24/Futures edge lower as earnings roll in, chipmakers retreat.txt b/news/AVGO/2023.01.24/Futures edge lower as earnings roll in, chipmakers retreat.txt new file mode 100644 index 0000000000000000000000000000000000000000..2f5baa8272610391273993d5c7a8e2ec335315ea --- /dev/null +++ b/news/AVGO/2023.01.24/Futures edge lower as earnings roll in, chipmakers retreat.txt @@ -0,0 +1 @@ +In a week packed with high-profile earnings reports and key economic data, investors will now look to assess the impact of the Federal Reserve's rate-hiking spree. The central bank is widely expected to raise rates by another quarter of a percentage point next week.Industrial conglomerate 3M Co fell 2.5%, leading the decliners among Dow components in premarket trading, after reporting a fall in quarterly profit.General Electric Co slipped 2.6% as it forecast a lower-than-expected 2023 adjusted profit.Johnson & Johnson, however, rose 2.2% after the healthcare giant beat estimates for fourth-quarter profit.Wall Street's main indexes started the earnings-heavy week on solid ground amid renewed appetite for growth stocks following a battering last year.After logging its biggest gain in over two months on Monday, Advanced Micro Devices Inc slipped 2.5% as brokerage Bernstein downgraded the chipmaker to "market-perform" from "outperform" citing a bleak outlook for the PC market.Other chipmakers including Nvidia Corp, Intel Corp and Broadcom Inc fell between 0.4% and 1%.Analysts now see fourth-quarter earnings for S&P 500 companies dropping 3% year-on-year, nearly twice as much as the 1.6% annual drop seen at the beginning of the year, per Refinitiv data.At 6:58 a.m. ET, Dow e-minis were down 65 points, or 0.19%, S&P 500 e-minis were down 9 points, or 0.22%, and Nasdaq 100 e-minis were down 49.5 points, or 0.41%.Other major growth stocks also dipped, with Alphabet Inc falling 1.1%. The U.S. Justice Department is poised to sue Google as soon as Tuesday, according to a report, regarding its dominance over the digital advertising market.Microsoft Corp is scheduled to report quarterly earnings after the bell. Shares of the company inched 0.1% lower.Zions Bancorporation slid 2.7% after Chief Executive Harris Simmons warned that the lender continued to build loan loss reserves on recession worries.Data from S&P Global later in the day will likely show flash manufacturing PMI fell to 46.0 in January from a final reading of 46.2 in December, while flash services PMI rose to 45 this month from 44.7 in December. (Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/AVGO/2023.01.25/UK competition watchdog starts probe into Broadcom's $61 billion deal for VMware.txt b/news/AVGO/2023.01.25/UK competition watchdog starts probe into Broadcom's $61 billion deal for VMware.txt new file mode 100644 index 0000000000000000000000000000000000000000..a84da5eaf6005a1c526c5105ba620ed2868a311d --- /dev/null +++ b/news/AVGO/2023.01.25/UK competition watchdog starts probe into Broadcom's $61 billion deal for VMware.txt @@ -0,0 +1 @@ +The Competition and Markets Authority (CMA) said it had until March 22 to make its decision on whether the deal announced in May last year would reduce competition in the UK. (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Dhanya Ann Thoppil) \ No newline at end of file diff --git a/news/AVGO/2023.02.02/Broadcom Inc. to Announce First Quarter Fiscal Year 2023 Financial Results on Thursday,...txt b/news/AVGO/2023.02.02/Broadcom Inc. to Announce First Quarter Fiscal Year 2023 Financial Results on Thursday,...txt new file mode 100644 index 0000000000000000000000000000000000000000..7f9e24f93c8a214b5eecfd5458ce95f37c721319 --- /dev/null +++ b/news/AVGO/2023.02.02/Broadcom Inc. to Announce First Quarter Fiscal Year 2023 Financial Results on Thursday,...txt @@ -0,0 +1,14 @@ + + +SAN JOSE, Calif., Feb. 2, 2023 /PRNewswire/ -- Broadcom Inc. (NASDAQ: AVGO), a Delaware corporation headquartered in San Jose, CA, and a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced it will report its first quarter fiscal year 2023 financial results and business outlook on Thursday, March 2, 2023 after the close of the market. Broadcom's management will host a conference call at 2:00 p.m. Pacific Time on the same day to discuss these results and business outlook. +Date: Thursday, March 2, 2023 +Time: 2:00 PM (PT); 5:00 PM (ET) +To Listen via Telephone: Preregistration is required by the conference call operator. Please preregister at https://register.vevent.com/register/BI8c37496b52db4705a80eea80b94ccb9b. Upon registering, you will be emailed a link to the dial-in number and unique PIN. +To Listen via Internet: The conference call can be accessed live online in the Investors section of the Broadcom website at https://investors.broadcom.com/.  +Replay: An audio replay of the conference call can be accessed for one year through the Investors section of Broadcom's website at https://investors.broadcom.com/. +About Broadcom Inc. Broadcom Inc. (NASDAQ: AVGO), a Delaware corporation headquartered in San Jose, CA, is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation. For more information, go to https://investors.broadcom.com/. +Contact: Broadcom Inc. Ji Yoo Investor Relations 408-433-8000investor.relations@broadcom.com (AVGO-Q) + View original content:https://www.prnewswire.com/news-releases/broadcom-inc-to-announce-first-quarter-fiscal-year-2023-financial-results-on-thursday-march-2-2023-301736834.html +SOURCE Broadcom Inc. + + diff --git a/news/AVGO/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt b/news/AVGO/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt new file mode 100644 index 0000000000000000000000000000000000000000..4c48bc046be011ad62cdf6382ec7199211d9ef99 --- /dev/null +++ b/news/AVGO/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt @@ -0,0 +1,8 @@ + +Sanofi, CaixaBank, Publicis, Apple, Alphabet, Amazon, Broadcom, VMWare, 3M Co, Brookfield Asset Management, Credit Suisse, Nordstrom, Ford, Beyond Meat, Kroger, Walmart, Costco Wholesale,  Starbucks, Coinbase, General Electric, Siemens Gamesa, Baidu and Tesla feature in this press review! + + + + + +  diff --git a/news/AVGO/2023.02.03/EU antitrust regulators pause Broadcom, VMware probe, await data.txt b/news/AVGO/2023.02.03/EU antitrust regulators pause Broadcom, VMware probe, await data.txt new file mode 100644 index 0000000000000000000000000000000000000000..fb8960dd05216cc73766e75d5b9a4a59b074c719 --- /dev/null +++ b/news/AVGO/2023.02.03/EU antitrust regulators pause Broadcom, VMware probe, await data.txt @@ -0,0 +1 @@ +The European Union competition watchdog said it stopped the clock on its investigation on Jan. 31, effective Jan. 24."This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them," a Commission spokesperson said."Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission's decision is then adjusted accordingly."Broadcom's move to diversify into enterprise software comes as regulators worldwide ramp up scrutiny of deals by Big Tech. (Reporting by Foo Yun Chee; Editing by Alexander Smith)By Foo Yun Chee \ No newline at end of file diff --git a/news/AVGO/2023.02.08/Wells Fargo taps Morgan Stanley veteran Jeff Hogan as new co-head of M&A.txt b/news/AVGO/2023.02.08/Wells Fargo taps Morgan Stanley veteran Jeff Hogan as new co-head of M&A.txt new file mode 100644 index 0000000000000000000000000000000000000000..a06832b3ff6732475b1ab4be8202b3e004d4b77f --- /dev/null +++ b/news/AVGO/2023.02.08/Wells Fargo taps Morgan Stanley veteran Jeff Hogan as new co-head of M&A.txt @@ -0,0 +1,26 @@ +NEW YORK, Feb 8 (Reuters) - Wells Fargo & Co on +Wednesday named a top Morgan Stanley banker as its new global +co-head of mergers and acquisitions, as part of the bank's +efforts to ramp up its investment banking franchise under Chief +Executive Charles Scharf.Jeff Hogan, who spent over 25 years at Morgan Stanley, will +join Wells Fargo later this year and will be based out of New +York. He will lead Wells Fargo's dealmaking unit alongside David +DeNunzio, the current global head of M&A at the bank.Hogan, who most recently served as co-head of global +technology M&A at Morgan Stanley, has spent most of his career +putting together deals primarily in the technology, media and +telecom (TMT) industries.Notable deals that Hogan advised on include Canadian telecom +giant BCE’s $61.7 billion spin-off of Nortel Networks, Suncor +Energy’s $18.2 merger with PetroCanada and MGM’s $8.45 billion +sale to Amazon.com Inc."As co-heads of global M&A, David and Jeff will partner +closely with the broader M&A team around strategy, client +targeting, and content to further grow our franchise," a Wells +Fargo spokeswoman said.Hogan's hire comes at a time when Wells Fargo is attempting +to bulk up its dealmaking franchise under Scharf and win market +share from larger investment banking rivals like Goldman Sachs +Group and JPMorgan Chase.Last year, Wells Fargo broke into the top-10 rankings for +M&A advisers for the first time in its history, after advising +on several high-profile transactions including Broadcom Inc's +$61 billion planned takeover of VMWare Inc, Kroger Co's pending +combination with Albertsons, and Intercontinental Exchange Inc's +proposed acquisition of Black Knight Inc. +(Reporting by Anirban Sen in New York; editing by Diane Craft) \ No newline at end of file diff --git a/news/AVGO/2023.02.15/EU regulators set new June 7 deadline for Broadcom, VMware deal.txt b/news/AVGO/2023.02.15/EU regulators set new June 7 deadline for Broadcom, VMware deal.txt new file mode 100644 index 0000000000000000000000000000000000000000..d8247f5325630f9df02bcea4a9cfbd8ade4b5a2b --- /dev/null +++ b/news/AVGO/2023.02.15/EU regulators set new June 7 deadline for Broadcom, VMware deal.txt @@ -0,0 +1 @@ +The EU competition watchdog had stopped the clock on its investigation on Jan. 31, effective Jan. 24, while waiting for the companies to provide requested information.The UK antitrust agency is also investigating the deal. (Reporting by Foo Yun Chee. Editing by Jane Merriman) \ No newline at end of file diff --git a/news/AVGO/2023.02.17/Broadcom : Notice of 2023 Annual Meeting and Proxy Statement.txt b/news/AVGO/2023.02.17/Broadcom : Notice of 2023 Annual Meeting and Proxy Statement.txt new file mode 100644 index 0000000000000000000000000000000000000000..8836094d03837999f8e6f12f5ae0fca9ac8cef4a --- /dev/null +++ b/news/AVGO/2023.02.17/Broadcom : Notice of 2023 Annual Meeting and Proxy Statement.txt @@ -0,0 +1,677 @@ + + + + + NOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS + + + + + + + + + Date: + + + + + April 3, 2023 + + + + + +Time: 4:00 p.m. Pacific Time + + +Place: 1320 Ridder Park Drive, San Jose, California 95131 + + +Record February 6, 2023 + + + Date: + + +Items of  To elect each of the nine director nominees until the next annual + + +Business: meeting of stockholders or until their successors have been elected + + + +To ratify the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm of Broadcom for the fiscal year ending October 29, 2023 + + +To approve an amendment and restatement of the 2012 Stock Incentive Plan + + +To hold an advisory vote to approve the named executive officer compensation + + +To hold an advisory vote on the frequency of the advisory vote on named executive officer compensation + + +To transact any other business as may properly come before the meeting or any postponements or adjournments to the meeting + + + + + + Vote via the Internet + + + You can vote your + + + shares online at + + + www.proxyvote.com + + + Vote by Telephone + + + In the U.S. or Canada, you can vote by calling (800) 690-6903 + + + Vote by Mail + + + Complete, sign, date and return your proxy card in the postage- paid envelope + + + + + + These items of business are described more fully in the accompanying Proxy Statement. On or about February 17, 2023, we are mailing to most of Broadcom's stockholders at the close of business on the Record Date a notice of internet availability of proxy materials instead of a paper copy of the proxy materials. + + + Your vote is important. Regardless of whether you plan to participate in the Annual Meeting, we hope you will vote as soon as possible via the Internet, by telephone or by mail to ensure you are represented at the Annual Meeting. Instructions for using these voting methods are set forth on the proxy card or the notice of internet availability of proxy materials. + + + Important notice of internet availability of proxy materials: + + + The notice of meeting, Proxy Statement and annual report to stockholders are available at https://investors.broadcom.com. + + + By Order of the Board, + + + Hock E. Tan + + + Director, President and Chief Executive Officer + + + February 17, 2023 + + + + + + + TABLE OF CONTENTS + + + + + + + + Page + + + + + + + PROXY STATEMENT SUMMARY + + + + + 1 + + + + + + + CORPORATE GOVERNANCE + + + + + 6 + + + + + + + BOARD OF DIRECTORS + + + + + 9 + + + + + + + PROPOSAL 1: ELECTION OF DIRECTORS + + + + + 16 + + + + + + + PROPOSAL 2: RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC + + + + + 22 + + + + + + + ACCOUNTING FIRM + + + + + + + + + AUDIT COMMITTEE REPORT + + + + + 24 + + + + + + + PROPOSAL 3: APPROVE AN AMENDMENT AND RESTATEMENT OF THE 2012 STOCK + + + + + 25 + + + + + + + INCENTIVE PLAN + + + + + + + + + PROPOSAL 4: ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION + + + + + 36 + + + + + + + PROPOSAL 5: ADVISORY VOTE ON THE FREQUENCY OF THE ADVISORY VOTE ON NAMED + + + + + 37 + + + + + + + EXECUTIVE OFFICERS COMPENSATION + + + + + + + + + COMPENSATION DISCUSSION AND ANALYSIS + + + + + 38 + + + + + + + COMPENSATION COMMITTEE REPORT + + + + + 57 + + + + + + + EXECUTIVE COMPENSATION + + + + + 58 + + + + + + + CEO PAY RATIO + + + + + 67 + + + + + + + EQUITY COMPENSATION PLAN INFORMATION + + + + + 68 + + + + + + + STOCKHOLDER INFORMATION + + + + + 69 + + + + + + + CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS + + + + + 71 + + + + + + + ADDITIONAL MEETING INFORMATION + + + + + 72 + + + + + + + OTHER INFORMATION + + + + + 75 + + + + + + + APPENDIX A - Reconciliation of Non-GAAP Financial Measures + + + + + A-1 + + + + + + + APPENDIX B - Broadcom Inc. 2012 Stock Incentive Plan + + + + + B-1 + + + + + + + APPENDIX C - Directions to the Annual Meeting + + + + + C-1 + + + + + + This proxy statement contains forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Forward-looking statements contained in this proxy statement should be considered in light of the many uncertainties that affect our business and specifically those factors in our filings filed with the Securities and Exchange Commission, such as those discussed under the heading "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended October 30, 2022, and as may be updated in our subsequent filings. + + + + + + + + Broadcom Inc. + + + + + i + + + + + + + + + [THIS PAGE INTENTIONALLY LEFT BLANK] + + + + + + PROXY SUMMARY + + + PROXY STATEMENT SUMMARY + + + Your proxy is being solicited by the Board of Directors of Broadcom Inc. (the "Board") in connection with the 2023 Annual Meeting of Stockholders (the "Annual Meeting"). We are making the Notice of Internet Availability of Proxy Materials (the "Internet Notice"), this proxy statement (the "Proxy Statement") and the accompanying proxy card, and our Annual Report on Form 10-K (the "2022 Annual Report") for the fiscal year ended October 30, 2022 ("Fiscal Year 2022") available to stockholders at the close of business on February 6, 2023 (the "Record Date") on or about February 17, 2023. This summary highlights information contained elsewhere in this Proxy Statement. We encourage you to review the entire Proxy Statement before voting. + + + Unless the context otherwise requires, references in this Proxy Statement to "Broadcom," "we," "our," "us" and similar terms are to Broadcom Inc. + + + Proposals and Board Recommendations + + + + + + Proposal + + + + + Board Recommendation + + + + + Page + + + + + + + To elect each of the nine director nominees until the next annual meeting + + + + + For + + + + + 16 + + + + + + + of stockholders or until their successors have been elected + + + + + each director nominee + + + + + + + + + + + To ratify the appointment of PricewaterhouseCoopers LLP as the + + + + + For + + + + + 22 + + + + + + + independent registered public accounting firm of Broadcom for the fiscal + + + + + + + year ending October 29, 2023 + + + + + + + + + + + + + +To approve an amendment and restatement of the 2012 Stock Incentive Plan + + +To hold an advisory vote to approve the named executive officer compensation + + +To hold an advisory vote on the frequency of the advisory vote on named executive officer compensation + + + + + + For25 + + + For36 + + + + + + 1 Year + + + + + 37 + + + + + + + + + Corporate Governance + + + We are committed to strong corporate governance and have designed our corporate governance framework to support the long-term interests of our stockholders, as well as our workforce, customers and communities. Some of our key governance practices include the following: + + + + + + +Proxy access + + +Ability to call special meetings by two or more stockholders holding at least 10% of outstanding shares + + +No supermajority voting requirements for bylaw amendments + + +No "poison pill" + + +Annual say-on-pay vote + + +Robust stock ownership guidelines for all executive officers and directors + + +Anti-hedgingand anti-pledging policy for employees and directors + + +Robust stockholder engagement program + + + + + + +Annual election of directors (no classified Board structure) + + +Majority voting for directors in uncontested election + + +Separate Chairman and Chief Executive Officer ("CEO") roles, with a Lead Independent Director + + +Strong independent Board - 7 of 9 directors are independent + + +Annual Board and committee evaluations + + +Independentsession directors regularly meet in executive + + +Annual review of Board refreshment and composition + + +Activereview CEO and senior management succession + + + + + + + + + + Broadcom Inc. + + + + + 1 + + + + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Broadcom Inc. published this content on 17 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 February 2023 21:56:38 UTC. + + diff --git a/news/AVGO/2023.02.17/VMware, Broadcom extend merger close deadline by three months.txt b/news/AVGO/2023.02.17/VMware, Broadcom extend merger close deadline by three months.txt new file mode 100644 index 0000000000000000000000000000000000000000..ce22e56199a8ee17e862fe411ef801dfcd5a7a2b --- /dev/null +++ b/news/AVGO/2023.02.17/VMware, Broadcom extend merger close deadline by three months.txt @@ -0,0 +1,15 @@ +Feb 17 (Reuters) - Cloud computing company VMware Inc and +chipmaker Broadcom Inc extended the date by which their $61 billion +merger is to be completed by 90 days, according to a regulatory filing on +Friday.The new "outside date" for the deal is May 26, the filing said.The Broadcom-VMware deal was one of the biggest announcements globally in +2022, marking the chipmaker's attempt to diversify into the enterprise software +segment.Broadcom's move comes as regulators worldwide ramp up scrutiny of deals by +Big Tech.Britain's competition regulator in January said it had started the first +phase of an investigation into the acquisition, while EU antitrust regulators in +February have resumed their investigation and will decide by June 7 whether to +clear or block the deal.A Broadcom spokesperson said it was common for acquisitions of this size +to extend their deal deadline."We are continuing to make progress with regulatory authorities around +the world, and we continue to expect the transaction to close in Broadcom’s +fiscal year 2023," the spokesperson said. +(Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber and Leslie +Adler) \ No newline at end of file diff --git a/news/AVGO/2023.02.23/Fast, Reliable Wi-Fi for Standard Power Devices across Brazil Supported through Ground-...txt b/news/AVGO/2023.02.23/Fast, Reliable Wi-Fi for Standard Power Devices across Brazil Supported through Ground-...txt new file mode 100644 index 0000000000000000000000000000000000000000..68ce46521b5186f2962071a3d0f358141dd77366 --- /dev/null +++ b/news/AVGO/2023.02.23/Fast, Reliable Wi-Fi for Standard Power Devices across Brazil Supported through Ground-...txt @@ -0,0 +1 @@ +Brasília, Brazil -- Wireless broadband access in Brazil will be expanded through the standard power unlicensed use of the 6 GHz as a result of a partnership between the biggest civil association for Internet Service Providers (ISPs) in Brazil (ABRINT) and the Dynamic Spectrum Alliance (DSA), alongside its member companies Broadcom Inc. and Cisco Systems Inc.With the publishing of public consultation N° 79 in November 2022, Brazilian regulator ANATEL has proposed the outdoor use of the 6 GHz band by Access Points (classified as restricted radiation equipment) under the control of Automated Frequency Coordination (AFC) systems. If enacted, this would further advance broadband connectivity throughout Brazil by allowing outdoor use for Access Points at higher powers to increase the coverage area.In addition, standard power operations will allow ISPs to expand their internet coverage by extending the fiber coverage another few kilometers via a wireless point to point microwave link, whilst protecting existing licensed operations in the band.To this end, ABRINT is partnering with the DSA and its member companies Broadcom and Cisco, to provide AFC technology and capability to ISP operators in Brazil. Both Broadcom and Cisco are the founders of the Telecom Infra Project's Open AFC Software Project, which is designing a fully functioning open AFC platform that can be downloaded by members to provision AFC services."All parties involved in this exciting partnership believe that this will benefit Brazilian users with improved broadband connectivity," said Martha Suarez, President of the DSA. "The DSA looks forward to working with ABRINT under this agreement and would like to compliment ANATEL for its leadership in providing reliable Wi-Fi for all Brazilians."In 2021, ANATEL enabled Brazil to become one of the first countries to open up unlicensed access in the 5925 - 7125 MHz band for low power indoor devices and very low power portable devices. This greatly advanced the country's connectivity goals and helped support over 20,000 ISPs to provision more reliable W-Fi using the 6 GHz band. Today, ISPs lead in growth and market share, providing Internet connectivity for more than 50% of nearly 45 million fixed access points, which are mostly enabled via fiber to the home (FTTH). The agreement between ABRINT, DSA and its member companies will provide further support to the ISPs across Brazil, with the aim to provide reliable Wi-Fi for all."This will strengthen cooperation between these entities and provide the rollout for information exchange to maximize the full benefits of 6 GHz Wi-Fi," said Mauricélio Oliveira Junior, Director General of ABRINT. "Whether Wi-Fi 6E today, or Wi-Fi 7 in the near future, it will ensure that existing services are protected from interference."The capabilities are currently designed around the US and Canadian requirements, but as a result of the new collaboration, Broadcom and Cisco have committed to modifying the Open AFC code to meet the requirements of Brazil, once finalized by the regulator. The DSA will be responsible for training ISPs on AFC, and how it can be used to provision wireless services."Broadcom is thrilled to partner with ABRINT to further accelerate and support the forward leaning 6 GHz unlicensed spectrum policies being enacted by ANATEL," said Christopher Szymanski, Director of Product Marketing for the Wireless Communications and Connectivity Division at Broadcom. "We applaud ANATEL's dedication to enabling Brazilian Internet Service Providers to level up the broadband experience for their subscribers. We are fully committed through Open AFC to develop an individualized AFC platform for Brazil that can be used by operators to provision outdoor and higher caliber wireless internet once ANATEL enables standard power 6 GHz Wi-Fi.""Cisco has been a proud partner in Brazil for over 25 years, with a new WebEx call center and in-country manufacturing operations that will soon include Wi-Fi 6E devices," said Matt MacPherson, wireless CTO at Cisco. "This collaboration with ABRINT is just the latest example of our company's commitment to Brazil's digital acceleration. ANATEL has led Latin America in making the full 6 GHz band available for Wi-Fi. Creating a Brazil-focused Open AFC platform capitalizes on that leadership and will help ensure that all Brazilians have access to the high-quality wireless service that comes from standard power 6GHz Wi-Fi."-ENDS-About the Dynamic Spectrum AllianceThe Dynamic Spectrum Alliance is a global organization advocating for laws and regulations that will lead to more efficient and effective spectrum utilization. The DSA's membership spans multinationals, small- and medium-sized enterprises, and academic, research, and other organizations from around the world, all working to create innovative solutions that will increase the amount of available spectrum to the benefit of consumers and businesses alike. Visit http://www.dynamicspectrumalliance.org/.To find out more about the DSA and its mission, please visit its website.Media EnquiriesFor all media enquiries, please contact Proactive PR at dsa@proactive-pr.com.Source: RealWire.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AVGO/2023.02.23/Futures rise as Nvidia's strong forecast lifts chipmakers.txt b/news/AVGO/2023.02.23/Futures rise as Nvidia's strong forecast lifts chipmakers.txt new file mode 100644 index 0000000000000000000000000000000000000000..95d56ae9e8a9554c144dc8cccffb348a1b99c9c4 --- /dev/null +++ b/news/AVGO/2023.02.23/Futures rise as Nvidia's strong forecast lifts chipmakers.txt @@ -0,0 +1 @@ +Nvidia Corp surged 9.6% in premarket trading after the chip designer forecast quarterly sales above estimates and reported a surge in the use of its chips to power artificial intelligence services, such as chatbots.Shares of Broadcom Inc, Qualcomm Inc, Intel Corp and Advanced Micro Devices Inc rose between 1.7% and 3.9%.At 07:21 a.m. ET, Dow e-minis were up 99 points, or 0.3%, S&P 500 e-minis were up 21 points, or 0.53%, and Nasdaq 100 e-minis were up 112.5 points, or 0.93%.The benchmark S&P 500 closed lower on Wednesday after minutes from the central bank's Jan. 31-Feb. 1 meeting showed nearly all policymakers supported more rate hikes but agreed that the shift to smaller-sized hikes would let them calibrate better with incoming data.After a strong January, stock markets have run into a volatile patch as evidence of inflation running above the Fed's 2% target, a resilient economy and hawkish commentary by central bank officials fanned concerns about further rate hikes.Those concerns will be at the back of traders' minds as they peruse remarks from Atlanta Fed President Raphael Bostic and San Francisco Fed President Mary Daly later in the day.The second reading of fourth-quarter gross domestic product (GDP) and weekly jobless claims data are also due.Analysts polled by Reuters predict a correction within the next three months even though they expect the S&P 500 to climb 5% by year-end.Among stock, eBay Inc slid 5.2% after warning of dour demand in the first half of 2023 due to strained consumer spending domestically and in Europe. (Reporting by Johann M Cherian in Bengaluru; Editing by Savio D'Souza) \ No newline at end of file diff --git a/news/AVGO/2023.02.23/S&P, Dow dip as resilient economic data stokes fears of rate hikes.txt b/news/AVGO/2023.02.23/S&P, Dow dip as resilient economic data stokes fears of rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..2f81aa031837d613a02c671ba3b5488801cfda01 --- /dev/null +++ b/news/AVGO/2023.02.23/S&P, Dow dip as resilient economic data stokes fears of rate hikes.txt @@ -0,0 +1,49 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia hits 10-month high on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4*Indexes: Dow down 0.3%, S&P dips 0.02%, Nasdaq up 0.06%Feb 23 (Reuters) -Wall Street was mostly lower in choppy trading on Thursday, +with the S&P 500 on track for a fifth straight daily decline and +the Dow Jones Industrial Average down too, as investors remained +wary of further interest rate hikes due to recent strong U.S. +economic data.On a topsy-turvy day, the tech-heavy Nasdaq was up slightly, +retreating from a session high earlier of more than 1%. Megacap +stocks were mixed, with Tesla Inc up and Amazon.com Inc +lower.Stock markets have been volatile this month, with the S&P +500 shedding more than 4% in the past six sessions, as data +pointing to a strong economy and hawkish commentary by Fed +officials dented appetite for risky assets.The Labor Department said the number of Americans filing new +claims for unemployment benefits unexpectedly fell last week, +reflecting tight labor market conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though rising inventory levels were responsible +for much of the increase.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."Any incremental piece of economic data builds the narrative +of the bears in the market that the rally so far is a false +euphoria, and this is weighing on the market more than the good +news from some of these earnings," said Peter Andersen, founder +of Andersen Capital Management.Analysts polled by Reuters predicted a correction within the +next three months even though they expect the S&P 500 to +climb 5% by year-end.Right now, the S&P is testing both the 50-day moving average +at 3,980 points and the 200-day moving average at 3,940.Nvidia Corp surged 14.2% to the highest in more +than 10 months after the company forecast quarterly sales above +estimates and reported a surge in the use of its chips to power +artificial intelligence services.Other chipmakers also gained, including Broadcom Inc +up 0.4% and Qualcomm Inc rising 0.8%. The +Philadelphia SE Semiconductor index climbed 2.5%.At 2.06 p.m. ET, the Dow Jones Industrial Average +fell 97.71 points, or 0.3%, to 32,947.38, the S&P 500 +lost 0.92 points, or 0.02%, to 3,990.13 and the Nasdaq Composite +added 6.36 points, or 0.06%, to 11,513.43.Eight of the 11 major S&P 500 sectors declined, with +communication services dropping 1.1%, hurt by a 3.8% +fall in Netflix Inc on reports that the streaming +service was cutting subscription prices in 30 countries.The communication services index was on course for its fifth +straight decline, which would be its biggest since another +five-loss streak in October.Energy was one of the few gainers, rising 1.3% +on the back of higher crude prices. Should the index +advance hold, it would halt a losing run at seven, tying its +worst stretch since an eight-session skid in March 2017.Among other stocks, eBay Inc slid 5.8% after +warning of dour demand in the first half of 2023 due to strained +consumer spending in the United States and Europe.Moderna Inc fell 8.4% after the vaccine maker +reaffirmed its annual sales forecast of $5 billion for its +COVID-19 vaccines despite its fourth-quarter sales exceeding +estimates. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Editing by Savio D'Souza, Arun +Koyyur, Anil D'Silva and David Gregorio) \ No newline at end of file diff --git a/news/AVGO/2023.02.23/Wall St ends topsy-turvy day higher, S&P snaps losing streak.txt b/news/AVGO/2023.02.23/Wall St ends topsy-turvy day higher, S&P snaps losing streak.txt new file mode 100644 index 0000000000000000000000000000000000000000..ed6da973efb218d467515d17c24641f2e8da5f5c --- /dev/null +++ b/news/AVGO/2023.02.23/Wall St ends topsy-turvy day higher, S&P snaps losing streak.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia jumps on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4Feb 23 (Reuters) -The main Wall Street benchmarks closed a topsy-turvy +Thursday in positive territory, with the S&P 500 snapping a +four-session losing streak, as investors grappled with how +interest rate policy might affect the U.S. economy.Stock markets have been volatile this year, pulling back in +February after a strong January as investors try to figure out +what the U.S. Federal Reserve will do with interest rates. +Hawkish comments from policymakers have been interspersed with +data pointing to a strong American economy.On Thursday, the Labor Department said the number of +Americans filing new claims for unemployment benefits +unexpectedly fell last week, reflecting tight labor market +conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though rising inventory levels were responsible +for much of the increase.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."If you're a bull, you can pull out plenty of things that +are supportive, and if you're bear there are plenty of things to +point to that are supportive," said Jack Janasiewicz, lead +portfolio strategist at Natixis Investment Managers Solutions."There are so many cross currents that are moving in +very different directions, I think it's very difficult to fall +back on one or two things. That's creating a lot of +hand-wringing uncertainty, and we're range-trading as a result +of it."For part of the day, the S&P was trading below its 50-day +moving average of 3,980 points, before rallying in the +afternoon.Influencing this intraday dip werelarge trades in short-dated derivativesthat piled selling pressure on the market, according to +Nomura strategist Charlie McElligott.Helping provide confidence to buyers was positive +earnings fromNvidia Corp, which surged after forecasting +quarterly sales above estimates and reporting a surge in the use +of its chips to power artificial intelligence services.Other chipmakers also gained, including Broadcom Inc +and Qualcomm Inc. The Philadelphia SE +Semiconductor index climbed.According to preliminary data, the S&P 500 +gained 21.09 points, or 0.53%, to end at 4,012.14 points, +while the Nasdaq Composite gained 83.26 points, or +0.72%, to 11,590.33. The Dow Jones Industrial Average +rose 113.99 points, or 0.34%, to 33,159.08.Many of the 11 major S&P 500 sectors rose. Higher crude +prices pushed energy to be one of the biggest gainers on +the day, and also helped the index halt a losing run at seven. +This tied its worst stretch since an eight-session skid in March +2017.Among the fallers was communication services, +which recorded its fifth straight decline, matching another +five-loss streak in October. It was weighed by Netflix Inc +, which slipped on reports that the streaming service +was cutting subscription prices in 30 countries.Among other stocks, eBay Inc slid after warning of +dour demand in the first half of 2023 due to strained consumer +spending in the United States and Europe.Moderna Inc fell after the vaccine maker reaffirmed +its annual sales forecast of $5 billion for its COVID-19 +vaccines despite its fourth-quarter sales exceeding estimates.However, Bumble Inc jumped. The owner of the +eponymous dating app projected annual revenue growth above +market estimates on optimism over rising paying users. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Editing by Savio D'Souza, Arun +Koyyur, Anil D'Silva and David Gregorio) \ No newline at end of file diff --git a/news/AVGO/2023.02.23/Wall St finishes topsy-turvy day higher, S&P snaps losing run.txt b/news/AVGO/2023.02.23/Wall St finishes topsy-turvy day higher, S&P snaps losing run.txt new file mode 100644 index 0000000000000000000000000000000000000000..7c755019d05300e5cc7368c20f195feb565742d6 --- /dev/null +++ b/news/AVGO/2023.02.23/Wall St finishes topsy-turvy day higher, S&P snaps losing run.txt @@ -0,0 +1,56 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia hits 10-month high on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4*Intraday dip fueled by short-dated derivatives trades - +Nomura*Indexes up: Dow 0.33%, S&P 0.53%, Nasdaq 0.72%Feb 23 (Reuters) -Wall Street ended a topsy-turvy Thursday in positive +territory, with the S&P 500 snapping a four-session losing +streak, as investors grappled with how interest rate policy +might affect the U.S. economy.Stock markets have been volatile this year, pulling back in +February after a strong January as investors tried to figure out +what the U.S. Federal Reserve will do with interest rates. +Hawkish comments from policymakers have been interspersed with +data pointing to a strong American economy.On Thursday, the Labor Department said the number of +Americans filing new claims for unemployment benefits +unexpectedly fell last week, reflecting tight labor market +conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though rising inventory levels were responsible +for much of the increase.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."If you're a bull, you can pull out plenty of things that +are supportive, and if you're bear there are plenty of things to +point to that are supportive," said Jack Janasiewicz, lead +portfolio strategist at Natixis Investment Managers Solutions."There are so many cross currents that are moving in very +different directions, I think it's very difficult to fall back +on one or two things. That's creating a lot of hand-wringing +uncertainty, and we're range-trading as a result of it."For part of the day, the S&P was trading below its 50-day +moving average of 3,980 points, before rallying in the afternoon +to finish above 4,000 points for the first time this week.Influencing this intraday dip were large trades in +short-dated derivatives that piled selling pressure on the +market, according to Nomura strategist Charlie McElligott.Helping provide confidence to buyers, Nvidia Corp +posted positive earnings and surged 14% after forecasting +quarterly sales above estimates and reporting a surge in the use +of its chips to power artificial intelligence services.Other chipmakers also gained, with Broadcom Inc, +Intel Corp and Qualcomm Inc rising between +0.6% and 1.8%. The Philadelphia SE Semiconductor index +climbed 3.3%.The Dow Jones Industrial Average rose 108.82 points, +or 0.33%, to 33,153.91, the S&P 500 gained 21.27 points, +or 0.53%, to 4,012.32 and the Nasdaq Composite added +83.33 points, or 0.72%, to 11,590.40.Seven of the 11 major S&P 500 sectors rose. Higher crude +prices pushed energy up 1.3%, and the index halted a +losing run at seven. This tied its biggest stretch of declines +since an eight-session skid in March 2017.Communication services was the biggest decliner, +dropping 0.7%. This was its fifth straight fall, matching +another five-loss streak in October. It was weighed by Netflix +Inc, which slipped 3.4% on reports the streaming +service was cutting subscription prices in 30 countries.Among other stocks, eBay Inc recorded its biggest +daily drop since Sept. 13, sliding 5.2%, after warning of dour +demand in the first half.Moderna Inc fell 6.7%, to its lower close since +Nov. 3, after the vaccine maker reaffirmed its annual sales +forecast of $5 billion for its COVID-19 vaccines despite its +fourth-quarter sales exceeding estimates.However, Bumble Inc jumped 7.5%. The owner of the +eponymous dating app projected annual revenue growth above +market estimates on optimism over rising paying users.Volume on U.S. exchanges was 10.43 billion shares, compared +with the 11.59 billion average for the full session over the +last 20 trading days.The S&P 500 posted 7 new 52-week highs and 3 new lows; +the Nasdaq Composite recorded 59 new highs and 128 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Editing by Savio D'Souza, Arun +Koyyur, Anil D'Silva and David Gregorio) \ No newline at end of file diff --git a/news/AVGO/2023.02.23/Wall Street falls as rate worries outweigh Nvidia cheer.txt b/news/AVGO/2023.02.23/Wall Street falls as rate worries outweigh Nvidia cheer.txt new file mode 100644 index 0000000000000000000000000000000000000000..c8e353b92d4f8ccc7076d9255f05f3dfa4015d6f --- /dev/null +++ b/news/AVGO/2023.02.23/Wall Street falls as rate worries outweigh Nvidia cheer.txt @@ -0,0 +1,44 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia hits 10-month high on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4*Indexes down: Dow 0.59%, S&P 0.34%, Nasdaq 0.36%Feb 23 (Reuters) - U.S. stock indexes slipped on +Thursday as investors worried that a resilient economy would +give the Federal Reserve more room to raise interest rates, +although a surge in Nvidia shares helped lift some of that +gloom.Stock markets have hit a volatile patch this month, with +the S&P 500 shedding more than 4% in the past six sessions, as +data pointing to a strong economy and hawkish commentary by Fed +officials dent appetite for risky assets.The Labor Department said the number of Americans filing +new claims for unemployment benefits unexpectedly fell last +week, reflecting tight labor market conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though much of the increase in output came from +rising inventory levels at businesses.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."Any incremental piece of economic data builds the +narrative of the bears in the market that the rally so far is a +false euphoria, and this is weighing on the market more than the +good news from some of these earnings," said Peter Andersen, +founder of Andersen Capital Management.Analysts polled by Reuters predict a correction within +the next three months even though they expect the S&P 500 +to climb 5% by year-end.The tech-heavy Nasdaq slipped after rising more than 1% +earlier in session, as megacap stocks including Apple +and Amazon.com Inc fell.Nvidia Corp surged 13.3% to a more than 10-month +high after the company forecast quarterly sales above estimates +and reported a surge in the use of its chips to power artificial +intelligence services.Other chipmakers such as Broadcom Inc, Qualcomm +Inc and Intel Corp rose between 0.2% and 2.6%. +The Philadelphia SE Semiconductor index climbed 1.8%.At 12:34 p.m. ET, the Dow Jones Industrial Average +was down 195.20 points, or 0.59%, at 32,849.89, the S&P 500 +was down 13.44 points, or 0.34%, at 3,977.61, and the +Nasdaq Composite was down 41.84 points, or 0.36%, at +11,465.23.Nine of the 11 major S&P 500 sectors declined, with +communication services dropping 1.5%, hurt by a 5.7% +fall in Netflix Inc on reports that the streaming +service was cutting subscription prices in 30 countries.Among other stocks, eBay Inc slid 7.2% after +warning of dour demand in the first half of 2023 due to strained +consumer spending in the United States and Europe.Moderna Inc fell 8.4% after the vaccine maker +reaffirmed its annual sales forecast of $5 billion for its +COVID-19 vaccines despite its fourth-quarter sales exceeding +estimates.Declining issues outnumbered advancers for a 1.28-to-1 +ratio on the NYSE and a 1.45-to-1 ratio on the Nasdaq.The S&P index recorded seven new 52-week highs and three new +lows, while the Nasdaq recorded 40 new highs and 102 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; +Editing by Savio D'Souza, Arun Koyyur and Anil D'Silva) \ No newline at end of file diff --git a/news/AVGO/2023.02.27/Broadcom faces EU antitrust warning on $61 bln VMware deal - sources.txt b/news/AVGO/2023.02.27/Broadcom faces EU antitrust warning on $61 bln VMware deal - sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..53109da190be52570324f014aedb63ab6494f1b1 --- /dev/null +++ b/news/AVGO/2023.02.27/Broadcom faces EU antitrust warning on $61 bln VMware deal - sources.txt @@ -0,0 +1,36 @@ +BRUSSELS, Feb 27 (Reuters) - U.S. chipmaker Broadcom +is set to receive a European Union antitrust warning +about the possible anti-competitive effects of its proposed $61 +billion bid for cloud computing company VMware in the +coming weeks, people familiar with the matter said.The European Commission opened an investigation in December, +saying the deal, announced last year, would allow Broadcom to +restrict competition in the market for certain hardware +components which interoperate with VMware's software.The EU competition enforcer, which will decide on the deal +by June 7, declined to comment.Tech M&A deals have attracted more intense scrutiny on both +sides of the Atlantic recently as regulators worry about giant +companies acquiring smaller, more innovative rivals.The Commission will set out its concerns in a statement of +objections, the people said. Companies can subsequently ask for +a closed hearing to defend their deals in front of senior +Commission and national competition officials as well as rivals +and the Commission's lawyers.Broadcom is expected to offer remedies only after receiving +the EU charge sheet and not before that, with no asset sale +foreseen, one of the sources said.Broadcom said it would continue its "constructive work" with +the Commission. The deal has received the green light in Brazil, +South Africa and Canada, while the UK competition watchdog is +investigating the acquisition."We continue to expect the transaction will close in +Broadcom's fiscal year 2023," the company said.The two companies received a "second request" for +information about their deal from the U.S. Federal Trade +Commission in July, indicating that the planned transaction +would be closely scrutinized, according to a government filing.U.S. antitrust enforcers have sought to stop an +unusually large number of deals during the Biden administration +because of concerns over concentration in the U.S. economy.Broadcom has told the EU enforcer that the presence of +Amazon, Microsoft and Google shows +that there is strong competition in the cloud computing market, +other people familiar with the matter told Reuters in October.Beltug, a Belgian association of CIOs & Digital Technology +leaders, and its counterparts France's Cigref, CIO platform +Nederland and VOICE Germany have said that the deal could lead +to big price increases and tougher commercial practices against +customers. +(Reporting by Foo Yun Chee, Additional reporting by Diane +Bartz; Editing by Louise Heavens, Jane Merriman and Marguerita +Choy) \ No newline at end of file diff --git a/news/AVGO/2023.02.27/Broadcom faces EU warning over $61 bln VMware deal.txt b/news/AVGO/2023.02.27/Broadcom faces EU warning over $61 bln VMware deal.txt new file mode 100644 index 0000000000000000000000000000000000000000..8a679f97c643313fb21fb28628bf4b6c4be51196 --- /dev/null +++ b/news/AVGO/2023.02.27/Broadcom faces EU warning over $61 bln VMware deal.txt @@ -0,0 +1 @@ +Reuters sources say it's set to face an EU warning over the deal. The EU opened a probe into the proposal back in December, saying the takeover could restrict competition in the market for some hardware components. Brussels watchdogs, which are due to give their verdict by early June, declined to comment on Monday's (February 27) reports. But tech M&A deals have attracted growing scrutiny on both sides of the Atlantic. Regulators are worried that big firms could stifle competition by acquiring smaller, more innovative rivals. Now the sources say the European Commission will set out its concerns in a so-called "statement of objections". The deal is also under investigation in the UK, but has been approved in Brazil, South Africa and elsewhere. Broadcom says it will continue to work with watchdogs. It says the existence of Amazon, Microsoft and Google shows there is strong competition in the cloud computing market. \ No newline at end of file diff --git "a/news/AVGO/2023.02.27/Broadcom says will continue constructive work with eu regulators\342\200\246.txt" "b/news/AVGO/2023.02.27/Broadcom says will continue constructive work with eu regulators\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..af72e5ed4074dca657de02ca98b65efc73ce5a42 --- /dev/null +++ "b/news/AVGO/2023.02.27/Broadcom says will continue constructive work with eu regulators\342\200\246.txt" @@ -0,0 +1 @@ +BROADCOM SAYS WILL CONTINUE CONSTRUCTIVE WORK WITH EU REGULATORS, STILL EXPECTS TO CLOSE DEAL IN FISCAL 2023 \ No newline at end of file diff --git "a/news/AVGO/2023.02.27/Broadcom to offer remedies after receiving eu warning,\342\200\246.txt" "b/news/AVGO/2023.02.27/Broadcom to offer remedies after receiving eu warning,\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..25d165468148cda75bf390f1ede76d72853f9fbf --- /dev/null +++ "b/news/AVGO/2023.02.27/Broadcom to offer remedies after receiving eu warning,\342\200\246.txt" @@ -0,0 +1 @@ +EXCLUSIVE-BROADCOM TO OFFER REMEDIES AFTER RECEIVING EU WARNING, SOURCES SAY \ No newline at end of file diff --git a/news/AVGO/2023.02.27/Crushed hopes and dreams.txt b/news/AVGO/2023.02.27/Crushed hopes and dreams.txt new file mode 100644 index 0000000000000000000000000000000000000000..24f155e9e2046a9dda2182de60ffd7bc17795cca --- /dev/null +++ b/news/AVGO/2023.02.27/Crushed hopes and dreams.txt @@ -0,0 +1,35 @@ + +As the best-case scenario lost a few points of probability, equity markets have taken a hit. With the drying up of annual corporate earnings releases, macroeconomic indicators will take on even more weight in the coming days. + +Investors had a tough time last week, with all global indices giving up ground. The MSCI China was down 4.15%, the Nasdaq 100 fell 3.1%. Losses range from -2.5% to -3% for the US S&P500, the Indian Sensex or the Dutch AEX and the CAC40. The FTSE 100 lost 1.6%. +If January was a month of revival for stock markets, February sees the return of doubt. But not of gloom, since indices are not as far from equilibrium as one might think. The Nasdaq 100, for example, is only down 1% in the current month, after gains of 10.6% respectively in January. The broad US S&P500 index is down -2.6% after gaining 6.2% in January. There are two sessions left, including today, to make the final assessment of February. +What is bothering investors is the ongoing series of indicators that are no longer clearly showing that inflation is cooling. Or no longer going in the direction of a decline in prices as clearly as expected, which is not quite the same thing, but which amounts to fairly similar consequences: the confidence displayed a few weeks ago has crumbled. This is visible in US bond yields. At this point, no one really knows if this is a sign that rates will remain high for longer. Or if it's a double whammy coming: rates that go even higher and stay there for longer. It's that scenario that would be the most damaging to equity markets, especially if it comes with the recession that everyone is talking about but not seeing yet. The market will be closely watching the next set of statistics to get more clues about which scenario will prevail. +We end with a statement by Warren Buffett, made on the sidelines of the publication of Berkshire Hathaway’s annual results. "I have never yet seen a time when it was wise to make a long-term bet against America," he stressed to mark his confidence in the economy. Food for thought. +This week, earnings season is slowing down. However, there are still some big names like Occidental Petroleum, Target, Monster Beverage, Bayer, Salesforce, Reckitt, Broadcom, Costco, Merck KGaA, the London Stock Exchange or Anheuser-Busch Inbev. On the macro side, there are several highlights this week. First, US durable goods orders (Monday), then the Conference Board's US consumer confidence index (Tuesday). The final ISM manufacturing indexes for February is due Wednesday. The first estimate of Eurozone inflation in February will take over (Thursday). The week will end with the final February PMI indexes for services and the ISM services index (Friday). +This morning, Wall Street's main indexes opened higher as investors looked for bargains after the main indices recorded their worst weekly selloff of the year last week. +The Dow Jones Industrial Average was up 0.6% at just after the open, the S&P 500 gained 0.7%, while the Nasdaq 100 rose 1.1%. +  +Economic highlights of the day: +In the United States, durable goods orders and Pending Home Sales. All the agenda is here.  +The dollar is down 0.3% to 0.9447 and 0.5% to GBP 0.8322. The ounce of gold is worth $1817. Oil is stabilizing, with North Sea Brent crude at USD 82.37 per barrel and US WTI light crude at USD 75.99. The yield on 10-year US debt is climbing back up to 3.94%. Bitcoin is falling back not far from USD 23,734. +  +In corporate news: +* Berkshire Hathaway posted the largest operating profit in its history last year, despite foreign-exchange losses and lower investment returns that weighed on its fourth-quarter profit, figures released Saturday by Warren Buffett's conglomerate show. +* Pfizer is in talks to buy pharmaceutical company Seagen in a deal that could be worth billions of dollars, the Wall Street Journal reported Sunday, citing sources. In pre-market trading, Pfizer was down 1% and Seagan was up 14.6%. +* Tesla announced that its plant near Berlin, Germany, was producing 4,000 vehicles a week, three weeks ahead of schedule. The automaker's stock was up more than 2% in premarket trading. +* Broadcom is expected to receive a warning from the European Commission in the coming weeks about the possible impact of the VMWare takeover on competition, sources close to the case said. +* Pioneer Natural Resources said Friday it isn't looking to make an acquisition after Bloomberg News reported the oil and gas explorer is considering a takeover of rival Range Resources. The latter was down 7% in pre-market trading. +  +Analyst recommendations: + +Best Buy: Telsey Advisory Group downgrades to market perform from outperform. PT down 1% to $83. +British American Tobacco: Jefferies remains Buy with a price target reduced from GBp 4700 to 4100. +Coca-Cola: Baptista Research initiated coverage with a recommendation of outperform. PT up 17% to $70.30. +GSK: Goldman Sachs upgrades from Sell to Buy. The target price remains set at GBp 2000. +Hikma: Berenberg remains "Hold" with a price target raised from GBp 1440 to GBp 1740. +Mondi: Jefferies remains Buy with a price target reduced from GBp 1730 to GBp 1710. +Rightmove: HSBC moves from light to hold, targeting GBp 530. +Shell: Goldman Sachs increases its rating from Neutral to Buy. +State Street: Wells Fargo Securities upgrades to overweight from equal-weight. PT up 12% to $98. +Zillow: J.P. Morgan initiated coverage of Zillow Group Inc. Class C with a recommendation of overweight. PT set to $48. + diff --git "a/news/AVGO/2023.02.27/Eu antitrust regulators set to warn broadcom about pos\342\200\246.txt" "b/news/AVGO/2023.02.27/Eu antitrust regulators set to warn broadcom about pos\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..06e224fd5058fac7597a930890bd39b6f80e059e --- /dev/null +++ "b/news/AVGO/2023.02.27/Eu antitrust regulators set to warn broadcom about pos\342\200\246.txt" @@ -0,0 +1 @@ +EXCLUSIVE-EU ANTITRUST REGULATORS SET TO WARN BROADCOM ABOUT POSSIBLE ANTI-COMPETITIVE IMPACT OF $61 BLN VMWARE BID, SOURCES SAY \ No newline at end of file diff --git a/news/AVGO/2023.02.27/Exclusive-EU antitrust regulators set to warn Broadcom on $61 billion VMware deal - sou...txt b/news/AVGO/2023.02.27/Exclusive-EU antitrust regulators set to warn Broadcom on $61 billion VMware deal - sou...txt new file mode 100644 index 0000000000000000000000000000000000000000..6fde7f6db81ffbe7cc6f1d9a57fc296d088403bb --- /dev/null +++ b/news/AVGO/2023.02.27/Exclusive-EU antitrust regulators set to warn Broadcom on $61 billion VMware deal - sou...txt @@ -0,0 +1 @@ +The European Commission opened an investigation in December last year, saying the deal would allow Broadcom to restrict competition in the market for certain hardware components which interoperate with VMware's software. (Reporting by Foo Yun Chee, Editing by Louise Heavens) \ No newline at end of file diff --git a/news/AVGO/2023.02.27/Global markets live: Berkshire Hathaway, Pfizer, Ford, Tesla, Broadc...txt b/news/AVGO/2023.02.27/Global markets live: Berkshire Hathaway, Pfizer, Ford, Tesla, Broadc...txt new file mode 100644 index 0000000000000000000000000000000000000000..972d15fa4ca3db41ce103e2bb0fb7b3a37832e1e --- /dev/null +++ b/news/AVGO/2023.02.27/Global markets live: Berkshire Hathaway, Pfizer, Ford, Tesla, Broadc...txt @@ -0,0 +1,26 @@ + +  +  +Corporate results: + +Berkshire Hathaway: quarterly net income of $6.7 billion is lower than expected, but it posted the largest operating profit in its history last year +PostNL: expects 2023 results to fall far short of expectations. +SES S.A.: the Luxembourg-based company expects 2023 revenues of €1.95-2bn and EBITDA of €1.01-1.05bn. + +In other news: + +Pfizer is in talks to buy Seagen for probably more than $30B, according to the WSJ. +Apple is reportedly replacing Lumentum with Sony for iPhone components. +Pioneer Natural Resources is reportedly eyeing Range Resources, according to Bloomberg. +Cvent Holding reportedly rejected an $8 per share offer from Blackstone. +Getinge under pressure after the prospect of CE mark suspension for two medical kits, for previously known but apparently poorly addressed issues. +Ford on Friday extended by at least a week the suspension of manufacturing of its popular F-150 Lightning electric "pickup", decided after a battery fire in early February. +Telecom Italia is asking KKR to raise its bid for its fixed network. +Ericsson to cut 8,500 jobs worldwide. +Anima Holding completes acquisition of 80% of Castello SGR. +China Renaissance's "missing" boss cooperates with an investigation by authorities, Beijing says. +Stabilus chairman sees room for acquisitions of up to €700m. +Tesla announced that its plant near Berlin, Germany, was producing 4,000 vehicles a week, three weeks ahead of schedule. +Broadcom is expected to receive a warning from the European Commission in the coming weeks about the possible impact of the VMware takeover on competition. + +Today’s main earnings reports: Occidental Petroleum, Zoom Video, Bunzl, Acciona, SES S.A., Saipem, Fluidra, PostNL... All the agenda is here.  diff --git a/news/AZN/2023.01.03/ASTRAZENECA : JP Morgan reaffirms its Buy rating.txt b/news/AZN/2023.01.03/ASTRAZENECA : JP Morgan reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..a31cadadfd09abd2a0e3ca97409e3d267dcca634 --- /dev/null +++ b/news/AZN/2023.01.03/ASTRAZENECA : JP Morgan reaffirms its Buy rating.txt @@ -0,0 +1 @@ +Richard Vosser from JP Morgan retains his positive opinion on the stock with a Buy rating. The target price has been raised from GBX 12500 to GBX 13500. \ No newline at end of file diff --git a/news/AZN/2023.01.03/Astrazeneca : Transparency Directive - Form 6-K.txt b/news/AZN/2023.01.03/Astrazeneca : Transparency Directive - Form 6-K.txt new file mode 100644 index 0000000000000000000000000000000000000000..75941333a0abcb8ef3a57ce20a1dc2d0d66014dc --- /dev/null +++ b/news/AZN/2023.01.03/Astrazeneca : Transparency Directive - Form 6-K.txt @@ -0,0 +1,52 @@ + + + Transparency Directive + + + Voting rights and capital + + + The following notification is made in accordance with the UK Financial Conduct Authority's Disclosure and Transparency Rule 5.6.1. As at 31 December 2022 the issued share capital of AstraZeneca PLC with voting rights is 1,549,800,030 ordinary shares of US$0.25. No shares are held in Treasury. Therefore, the total number of voting rights in AstraZeneca PLC is 1,549,800,030. + + + The above figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, AstraZeneca PLC under the UK Financial Conduct Authority's Disclosure and Transparency Rules. + + + AstraZeneca + + + AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca. + + + Contacts + + + For details on how to contact the Investor Relations Team, please click here. For Media contacts, click here. + + + Adrian Kemp + + + Company Secretary + + + AstraZeneca PLC + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +AstraZeneca plc published this content on 03 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 January 2023 16:17:03 UTC. + + diff --git a/news/AZN/2023.01.03/Citigroup cuts Wizz Air; Redburn likes CRH.txt b/news/AZN/2023.01.03/Citigroup cuts Wizz Air; Redburn likes CRH.txt new file mode 100644 index 0000000000000000000000000000000000000000..ecd2e47a0acd789bec7b4eed315cb888bf211da9 --- /dev/null +++ b/news/AZN/2023.01.03/Citigroup cuts Wizz Air; Redburn likes CRH.txt @@ -0,0 +1 @@ +(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning, Monday and late Friday:----------FTSE 100----------Redburn raises CRH to 'buy' (neutral)----------Jefferies raises Next price target to 5,700 (5,500) pence - 'hold'----------Goldman Sachs cuts Diageo price target to 4,700 (4,800) pence - 'buy'----------Goldman Sachs cuts Diageo price target to 4,700 (4,800) pence - 'buy'----------Barclays cuts Reckitt Benckiser price target to 7,800 (8,200) pence - 'overweight'----------JPMorgan cuts GSK to 'underweight' (neutral) - price target 1,350 (1,600) pence----------JPMorgan raises AstraZeneca price target to 13,500 (12,500) pence - 'overweight'----------Jefferies raises Rolls-Royce to 'buy' (hold) - price target 125 (90) pence----------Jefferies cuts SSE to 'hold' (buy) - price target 1,830 (2,080) pence----------FTSE 250----------Citigroup cut Wizz Air to 'sell' (neutral) - price target 1,700 pence----------JPMorgan cuts Dechra Pharmaceuticals price target to 4,600 (5,700) pence - 'overweight'----------JPMorgan raises Hikma Pharmaceuticals to 'overweight' (neutral) - price target 1,950 (1,760) pence----------Jefferies raises Drax price target to 800 (650) pence - 'buy'----------Copyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.03/Dollar jumps, U.S. stocks buck global rally.txt b/news/AZN/2023.01.03/Dollar jumps, U.S. stocks buck global rally.txt new file mode 100644 index 0000000000000000000000000000000000000000..e351f558a02fe015853f125a0c1d5097c53ad91b --- /dev/null +++ b/news/AZN/2023.01.03/Dollar jumps, U.S. stocks buck global rally.txt @@ -0,0 +1,73 @@ +*Global shares edge up, but Wall Street drops*Correlation with dollar softens*Yen takes a breather from recent rallyLONDON/NEW YORK, Jan 3 (Reuters) - The dollar jumped on +Tuesday as oil prices sank, while U.S. stocks bucked a global +equities rally in a macro-packed week that could offer a steer +on when and where U.S. interest rates might peak.The MSCI All-World index fell 0.2%, dragged +by losses in U.S. stocks. The Dow Jones Industrial Average +ended little changed, the S&P 500 dropped 0.4%, +and the Nasdaq Composite lost 0.76%.Losses in U.S. stocks were led by a 12.2% tumble in +electric-vehicle maker Tesla after it missed Wall +Street estimates for quarterly deliveries. IPhone maker Apple +Inc dropped 3.7% to its lowest since June 2021 +following a rating downgrade due to production cuts in China.The U.S. dollar firmed ahead of Wednesday's release +of the minutes from the Federal Reserve's last meeting, with +expectations they will signal more policy tightening is in +store.A higher dollar walloped oil prices, which also took a +beating from concerns about slowing global economic growth, +especially after data showed China's factory activity shrank in +December."We expect the December FOMC minutes to shed additional +light on Fed officials' policy views for 2023. Note that at the +meeting, the Committee signalled broad expectations for a +substantially higher terminal rate this year," analysts at TD +Securities said in a note.The dollar index jumped 0.94% to 104.64.The euro was the worst-performing currency against the +dollar, falling by the most since late September, +after German regional inflation data showed consumer price +pressures eased sharply in December, thanks in large part to +government measures to contain natural gas bills for households +and businesses.Data on U.S. payrolls this week is expected to show the +labour market remains tight, while EU consumer prices could show +some slowdown in inflation as energy prices ease."Energy base effects will bring about a sizeable reduction +in inflation in the major economies in 2023, but stickiness in +core components, much of this stemming from tight labour +markets, will prevent an early dovish policy 'pivot' by central +banks," analysts at NatWest Markets wrote in a note.They expect interest rates to top out at 5% in the United +States, 2.25% in the EU and 4.5% in Britain and to stay there +for the entire year. Markets, on the other hand, are pricing in +rate cuts for late 2023, with fed fund futures implying +a range of 4.25% to 4.5% by December."The thing that makes me nervous about this year is that we +still do not know the full impact of the very significant +monetary tightening that's taken place across the advanced +world," Berenberg Senior Economist Kallum Pickering said."It takes a good year, or 18 months, for the full effect to +kick in," he said.Central banks have expressed concern about rising wages, +even as consumers have struggled to keep up with the soaring +cost of living and companies are running out of room to protect +their profitability by raising their own prices.However, said Pickering, the labour market tends to lag the +broader economy by some time, meaning there is a risk that +central banks could be raising interest rates by more than the +economy can withstand."What central banks are inducing is essentially excess +cyclicality, which is - they overstimulated in 2021 and +triggered an inflationary boom and then overtightened in 2022 +and triggered a disinflationary recession. It’s exactly the +opposite of what you want central banks to do," he said.EUROPEAN SHARES RALLYOn the markets, European shares rose thanks to gains in +classic defensive sectors, such as healthcare and food and +beverages. Drugmakers Novo Nordisk, Astrazeneca +and Roche were among the biggest positive +weights on the STOXX 600, along with NestleThe STOXX, which lost 13% in 2022, rose 1.2%. The FTSE 100 +, the only major European index not to trade on Monday, +rose 1.4%.Markets have for a while priced in an eventual U.S. easing, +but they were badly wrong-footed by the Bank of Japan's shock +upward shift in its ceiling for bond yields.The BOJ is now considering raising its inflation forecasts +in January to show price growth close to its 2% target in fiscal +2023 and 2024, according to the Nikkei.Such a move at its next policy meeting on Jan. 17-18 would +only add to speculation of an end to ultra-loose policy, which +has essentially acted as a floor for bond yields globally.The policy shift has boosted the yen across the board, with +the dollar losing 5% in December and the euro 2.3%.The yen took a breather on Tuesday, easing 0.3% against the +dollar to 130.895. The dollar earlier touched a six-month low of +129.52 yen.Oil succumbed to the strength of the dollar, and concern +about demand in China, the world's second-largest economy, added +to the downward momentum.A batch of surveys has shown China's factory activity shrank +at the sharpest pace in nearly three years as COVID infections +swept through production lines."China is entering the most dangerous weeks of the +pandemic," warned analysts at Capital Economics.Brent crude lost 4.2% to settle at $82.10 a barrel.(Reporting by Koh Gui Qing in New York and Amanda Cooper in +London +Additional reporting by Wayne Cole in Sydney +Editing by Andrea Ricci and Matthew Lewis) \ No newline at end of file diff --git a/news/AZN/2023.01.03/Dollar posts big gains, U.S. stocks buck global rally.txt b/news/AZN/2023.01.03/Dollar posts big gains, U.S. stocks buck global rally.txt new file mode 100644 index 0000000000000000000000000000000000000000..43c0ee7d13f23b73106078e74db9dc6ec278a21e --- /dev/null +++ b/news/AZN/2023.01.03/Dollar posts big gains, U.S. stocks buck global rally.txt @@ -0,0 +1,70 @@ +*Global shares edge up, but Wall Street drops*Correlation with dollar softens*Yen takes a breather from recent rallyLONDON/NEW YORK, Jan 3 (Reuters) - The dollar jumped on +Tuesday as oil prices sank, while U.S. stocks bucked a global +equities rally in a macro-packed week that could offer a steer +on when and where U.S. interest rates might peak.The MSCI All-World index fell 0.5%, dragged +by losses in U.S. stocks. The Dow Jones Industrial Average +lost 0.64%, the S&P 500 dropped 0.9%, and the +Nasdaq Composite lost 1.3%.Losses in U.S. stocks were led by a 14.7% tumble in +electric-vehicle maker Tesla after it missed Wall +Street estimates for quarterly deliveries. iPhone maker Apple +Inc dropped 4.3% to its lowest since June 2021 +following a rating downgrade due to production cuts in China.The U.S. dollar firmed ahead of Wednesday's +release of the minutes from the Federal Reserve's last meeting, +with expectations they will signal more policy tightening is in +store.A higher dollar walloped oil prices, which also took a +beating from concerns about slowing global economic growth, +especially after data showedChina's factory activity shrank in December."We expect the December FOMC minutes to shed additional +light on Fed officials' policy views for 2023. Note that at the +meeting, the Committee signalled broad expectations for a +substantially higher terminal rate this year," analysts at TD +Securities said in a note.The dollar index jumped 0.97% to 104.66.The euro was the worst-performing currency against the +dollar, falling by the most since late September, +after German regional inflation data showed consumer price +pressures eased sharply in December, thanks in large part to +government measures to contain natural gas bills for households +and businesses.Data on U.S. payrolls this week is expected to show the +labour market remains tight, while EU consumer prices could show +some slowdown in inflation as energy prices ease."Energy base effects will bring about a sizeable reduction +in inflation in the major economies in 2023, but stickiness in +core components, much of this stemming from tight labour +markets, will prevent an early dovish policy 'pivot' by central +banks," analysts at NatWest Markets wrote in a note.They expect interest rates to top out at 5% in the United +States, 2.25% in the EU and 4.5% in Britain and to stay there +for the entire year. Markets, on the other hand, are pricing in +rate cuts for late 2023, with fed fund futures implying +a range of 4.25% to 4.5% by December."The thing that makes me nervous about this year is that we +still do not know the full impact of the very significant +monetary tightening that's taken place across the advanced +world," Berenberg Senior Economist Kallum Pickering said."It takes a good year, or 18 months, for the full effect to +kick in," he said.Central banks have expressed concern about rising wages, +even as consumers have struggled to keep up with the soaring +cost of living and companies are running out of room to protect +their profitability by raising their own prices.But, Pickering said, the labour market tends to lag the +broader economy by some time, meaning that there is a risk that +central banks could be raising interest rates by more than the +economy can withstand."What central banks are inducing is essentially excess +cyclicality, which is - they overstimulated in 2021 and +triggered an inflationary boom and then overtightened in 2022 +and triggered a disinflationary recession. It’s exactly the +opposite of what you want central banks to do," he said.EUROPEAN SHARES RALLYOn the markets, European shares rose thanks to gains in +classic defensive sectors, such as healthcare and food and +beverages. Drugmakers Novo Nordisk, Astrazeneca +and Roche were among the biggest positive +weights on the STOXX 600, along with NestleThe STOXX, which lost 13% in 2022, rose 1.2%. The FTSE 100 +, the only major European index not to trade on Monday, +rose 1.4%.Markets have for a while priced in an eventual U.S. easing, +but they were badly wrong-footed by the Bank of Japan's shock +upward shift in its ceiling for bond yields.The BOJ is now considering raising its inflation forecasts +in January to show price growth close to its 2% target in fiscal +2023 and 2024, according to the Nikkei.Such a move at its next policy meeting on Jan. 17-18 would +only add to speculation of an end to ultra-loose policy, which +has essentially acted as a floor for bond yields globally.The policy shift has boosted the yen across the board, with +the dollar losing 5% in December and the euro 2.3%.The yen took a breather on Tuesday, easing 0.4% against the +dollar to 130.69. The dollar earlier touched a six-month low of +129.52 yen.Oil succumbed to the strength of the dollar, and concern +about demand in China, the world's second-largest economy, added +to the downward momentum.A batch of surveys has shown China's factory activity shrank +at the sharpest pace in nearly three years as COVID infections +swept through production lines."China is entering the most dangerous weeks of the +pandemic," warned analysts at Capital Economics.Brent crude lost 3% to trade around $83.32 a barrel.(Reporting by Wayne Cole; Editing by Bradley Perrett, Sam +Holmes, Chizu Nomiyama and Andrea Ricci) \ No newline at end of file diff --git a/news/AZN/2023.01.03/Dollar set for biggest one-day gain in three months, equities rally.txt b/news/AZN/2023.01.03/Dollar set for biggest one-day gain in three months, equities rally.txt new file mode 100644 index 0000000000000000000000000000000000000000..4e8534ace810e874d42028b6ba625479f6c86b19 --- /dev/null +++ b/news/AZN/2023.01.03/Dollar set for biggest one-day gain in three months, equities rally.txt @@ -0,0 +1,71 @@ +*Global shares edge up*Correlation with dollar softens*Yen takes a breather from recent rallyLONDON, Jan 3 (Reuters) - The dollar headed for its +largest one-day rise in over three months on Tuesday, while +equities rallied in a macro-packed week that could offer a steer +on when, and at what level, U.S. interest rates might peak.The MSCI All-World index was roughly +unchanged, although European stocks, led by hefty gains in +anything from financials, to oil and gas stocks, to healthcare, +bounced to two-week highs.Typically, stocks tend to fall when the dollar gains, but +that negative correlation between the two softened on Tuesday to +its weakest since early September. The dollar index was +last up 1% at 104.69.The euro was the worst-performing currency against the +dollar, falling by the most since late September, +after German regional inflation data showed consumer price +pressures eased sharply in December, thanks in large part to +government measures to contain natural gas bills for households +and businesses.Data on U.S. payrolls this week are expected to show the +labour market remains tight, while EU consumer prices could show +some slowdown in inflation as energy prices ease."Energy base effects will bring about a sizeable reduction +in inflation in the major economies in 2023, but stickiness in +core components, much of this stemming from tight labour +markets, will prevent an early dovish policy 'pivot' by central +banks," analysts at NatWest Markets wrote in a note.They expect interest rates to top out at 5% in the United +States, 2.25% in the EU and 4.5% in Britain and to stay there +for the entire year. Markets, on the other hand, are pricing in +rate cuts for late 2023, with fed fund futures implying +a range of 4.25 to 4.5% by December."The thing that makes me nervous about this year is that we +still do not know the full impact of the very significant +monetary tightening that's taken place across the advanced +world," Berenberg senior economist Kallum Pickering said."It takes a good year, or 18 months, for the full effect to +kick in," he said.Central banks have expressed concern about rising wages, +even as consumers have struggled to keep up with the soaring +cost of living and companies are running out of room to protect +their profitability by raising their own prices.But, Pickering said, the labour market tends to lag the +broader economy by some time, meaning that there is a risk that +central banks could be raising interest rates by more than the +economy can withstand."What central banks are inducing is essentially excess +cyclicality, which is - they overstimulated in 2021 and +triggered an inflationary boom and then overtightened in 2022 +and triggered a disinflationary recession. It’s exactly the +opposite of what you want central banks to do," he said.Investors will get their first insight into central bank +thinking later this week when the Federal Reserve releases the +minutes from its December policy meeting.The minutes will likely show many members saw risks that +interest rates would need to go higher for longer, but investors +are conscious of how much they've risen already.On the markets, European shares rose thanks to gains in +classic defensive sectors, such as healthcare and food and +beverages. Drugmakers Novo Nordisk, Astrazeneca +and Roche were among the biggest positive +weights on the STOXX 600, along with NestleThe STOXX, which lost 13% in 2022, rose 1.1%. The FTSE 100 +, the only major European index not to trade on Monday, +rose 1.3%.U.S. stock index futures gained between 0.4-0.5% +, pointing to an upbeat start at the opening bell.Markets have for a while priced in an eventual U.S. easing, +but they were badly wrong-footed by the Bank of Japan's shock +upward shift in its ceiling for bond yields.The BOJ is now considering raising its inflation forecasts +in January to show price growth close to its 2% target in fiscal +2023 and 2024, according to the Nikkei.Such a move at its next policy meeting on Jan. 17-18 would +only add to speculation of an end to ultra-loose policy, which +has essentially acted as a floor for bond yields globally.The policy shift has boosted the yen across the board, with +the dollar losing 5% in December and the euro 2.3%.The yen took a breather on Tuesday, easing 0.3% against the +dollar to 130.96. The dollar earlier touched a six-month low of +129.52 yen. Against the dollar, the euro fell 1.1% to +$1.05395, having dropped by as much as 1.4% earlier in the day."A theme we’ve often noticed is the euro's negative +seasonality in January, down around 1.3% since 1980 on average +in January, with a 64% hit ratio. If history is any guide, it’s +a rough month for euro longs," Nomura strategist Jordan +Rochester said.Oil succumbed to the strength of the dollar, and reversed +course, falling as concern about demand in China, the world's +second largest economy, added to the downward momentum.A batch of surveys have shownChina's factory activity shrank +at the sharpest pace in nearly three years as COVID infections +swept through production lines."China is entering the most dangerous weeks of the +pandemic," warned analysts at Capital Economics.Brent crude lost 0.9% to trade around $85.15 a +barrel, having hit a session high of $87.00 earlier on.(Reporting by Wayne Cole; Editing by Bradley Perrett, Sam +Holmes and Chizu Nomiyama) \ No newline at end of file diff --git a/news/AZN/2023.01.05/ASTRAZENECA : JP Morgan maintains a Buy rating.txt b/news/AZN/2023.01.05/ASTRAZENECA : JP Morgan maintains a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..b267b2966f1b8efc145d51b3f74364fb2a266b0c --- /dev/null +++ b/news/AZN/2023.01.05/ASTRAZENECA : JP Morgan maintains a Buy rating.txt @@ -0,0 +1 @@ +In a research note published by James Gordon, JP Morgan advises its customers to buy the stock. The target price remains unchanged at GBX 13500. \ No newline at end of file diff --git a/news/AZN/2023.01.05/ASTRAZENECA : Jefferies sticks Neutral.txt b/news/AZN/2023.01.05/ASTRAZENECA : Jefferies sticks Neutral.txt new file mode 100644 index 0000000000000000000000000000000000000000..00d7bcc57f839115dbd82ef41288e1a2b08b6304 --- /dev/null +++ b/news/AZN/2023.01.05/ASTRAZENECA : Jefferies sticks Neutral.txt @@ -0,0 +1 @@ +Jefferies confirms his opinion on the stock and remains Neutral. The target price differs slightly and is now set at GBX 10800 versus GBX 10500. \ No newline at end of file diff --git a/news/AZN/2023.01.05/AstraZeneca's and Sanofi's nirsevimab approved for US review.txt b/news/AZN/2023.01.05/AstraZeneca's and Sanofi's nirsevimab approved for US review.txt new file mode 100644 index 0000000000000000000000000000000000000000..dbb2a59e18f90ab40e172f2463ea9cb4c60bbada --- /dev/null +++ b/news/AZN/2023.01.05/AstraZeneca's and Sanofi's nirsevimab approved for US review.txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC and its partner Sanofi SA on Thursday said nirsevimab, their antibody against respiratory syncytial virus, has been approved for review by the US Food & Drug Administration for preventing RSV lower respiratory tract disease in newborns and infants up to 24 months of age. RSV is a common contagious virus affecting the lungs and breathing passages, with no vaccine currently approved. If approved in the US, nirsevimab will be available for the 2023/2024 RSV season. Citing medical studies, AstraZeneca said RSV is the leading cause of hospitalisations for babies in the US under the age of one, with 75% of infants hospitalised having been born with no underlying conditions.In November 2022, the drug was granted marketing authorisation in the EU for the prevention of RSV lower respiratory tract disease in newborns and infants under the name beyfortus.By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.05/Bank of America cuts Pearson to 'underperform'.txt b/news/AZN/2023.01.05/Bank of America cuts Pearson to 'underperform'.txt new file mode 100644 index 0000000000000000000000000000000000000000..98a02fdbf92c29f29a75a0910136fa10f9d9c95d --- /dev/null +++ b/news/AZN/2023.01.05/Bank of America cuts Pearson to 'underperform'.txt @@ -0,0 +1 @@ +(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday afternoon:----------FTSE 100----------Bank of America raises WPP price target to 720 (675) pence - 'underperform'----------Bank of America cuts Pearson to 'underperform' (neutral) - price target 865 pence----------Bernstein raises Burberry price target to 2,115 (2,000) pence - 'market-perform'----------Exane BNP cuts Prudential to 'underperform' (neutral)----------Jefferies raises GSK price target to 1,575 (1,475) pence - 'hold'----------Jefferies raises AstraZeneca price target to 10,800 (10,500) pence - 'hold'----------Bernstein raises InterContinental Hotels target to 5,100 (5,000) pence - 'market-perform'----------Barclays raises Vodafone price target to 115 (110) pence - 'equal weight'----------Jefferies raises HSBC to 'buy' (hold) - price target 770 (574) pence ----------FTSE 250----------Bank of America cuts ITV price target to 49 (54) pence - 'underperform' ----------SMALL CAP----------Liberum raises Ryanair to 'buy' (hold) - price target 16 EUR ----------Copyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.05/ENHERTU Type II Variation Application Validated by EMA for the Treatment of HER2 Mutant...txt b/news/AZN/2023.01.05/ENHERTU Type II Variation Application Validated by EMA for the Treatment of HER2 Mutant...txt new file mode 100644 index 0000000000000000000000000000000000000000..de4a8fc59d4cd0ea3903360c588e2913c3005304 --- /dev/null +++ b/news/AZN/2023.01.05/ENHERTU Type II Variation Application Validated by EMA for the Treatment of HER2 Mutant...txt @@ -0,0 +1 @@ +Daiichi Sankyo (TSE: 4568) today announced that the European Medicines Agency (EMA) has validated the Type II Variation application for ENHERTU (trastuzumab deruxtecan) as a monotherapy for the treatment of adult patients with unresectable or metastatic non-small cell lung cancer (NSCLC) whose tumors have activating HER2 (ERBB2) mutations and who have received a prior systemic therapy.ENHERTU is a specifically engineered HER2 directed antibody drug conjugate (ADC) being jointly developed and commercialized by Daiichi Sankyo and AstraZeneca (LSE/STO/Nasdaq: AZN). Validation confirms that the application is complete and commences the scientific review process by the EMA's Committee for Medicinal Products for Human Use. This application is based on data from the DESTINY-Lung02 phase 2 trial presented at the European Society for Medical Oncology (ESMO) 2022 Congress and the DESTINY-Lung01 phase 2 trial published in The New England Journal of Medicine with updated data also presented at ESMO 2022.ENHERTU is the first HER2 directed medicine shown to have a clinically meaningful tumor response in patients with previously treated HER2 mutant metastatic non-small cell lung cancer based on the results of the DESTINY-Lung02 and DESTINY-Lung01 trials,' said Ken Takeshita, MD, Global Head, R&D, Daiichi Sankyo. 'As there are no approved therapies targeting HER2 mutant non-small cell lung cancer in Europe, we look forward to working closely with the European Medicines Agency to potentially bring a new treatment option to these patients.'About DESTINY-Lung02DESTINY-Lung02 is a global, randomized phase 2 trial evaluating the safety and efficacy of ENHERTU in patients with HER2 mutant metastatic NSCLC with disease recurrence or progression during or after at least one regimen of prior anticancer therapy that must have contained a platinum-based chemotherapy. Patients were randomized 2:1 to receive ENHERTU 5.4 mg/kg (Cohort 1; n=102) or ENHERTU 6.4 mg/kg (Cohort 2; n=50).The primary endpoint of the trial is confirmed objective response rate (ORR) as assessed by blinded independent central review (BICR). Secondary endpoints include confirmed disease control rate (DCR), duration of response (DoR) and progression free survival (PFS) assessed by investigator and BICR, investigator-assessed overall survival (OS) and safety. DESTINY-Lung02 enrolled 152 patients at multiple sites, including Asia, Europe, Oceania and North America.About ENHERTUENHERTU (trastuzumab deruxtecan; fam-trastuzumab deruxtecan-nxki in the U.S. only) is a HER2 directed antibody drug conjugate (ADC). Designed using Daiichi Sankyo's proprietary DXd ADC technology, ENHERTU is the lead ADC in the oncology portfolio of Daiichi Sankyo and the most advanced program in AstraZeneca's ADC scientific platform. ENHERTU consists of a HER2 monoclonal antibody attached to a topoisomerase I inhibitor payload, an exatecan derivative, via a stable tetrapeptide-based cleavable linker.ENHERTU (5.4 mg/kg) is approved in more than 40 countries for the treatment of adult patients with unresectable or metastatic HER2 positive breast cancer who have received a (or one or more) prior anti-HER2-based regimen, either in the metastatic setting or in the neoadjuvant or adjuvant setting, and have developed disease recurrence during or within six months of completing therapy based on the results from the DESTINY-Breast03 trial. ENHERTU also is approved in several countries for the treatment of adult patients with unresectable or metastatic HER2 positive breast cancer who have received two or more prior anti-HER2-based regimens based on the results from the DESTINY-Breast01 trial.ENHERTU (5.4 mg/kg) is approved in Brazil and the U.S. for the treatment of adult patients with unresectable or metastatic HER2 low (immunohistochemistry (IHC) 1+ or IHC 2+/in-situ hybridization (ISH)) breast cancer who have received a prior systemic therapy in the metastatic setting or developed disease recurrence during or within six months of completing adjuvant chemotherapy based on the results from the DESTINY-Breast04 trial. ENHERTU (5.4 mg/kg) is approved under accelerated approval in the U.S. for the treatment of adult patients with unresectable or metastatic non-small cell lung cancer (NSCLC) whose tumors have activating HER2 (ERBB2) mutations, as detected by a FDA-approved test, and who have received a prior systemic therapy based on the results from the DESTINY-Lung02 trial. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial.ENHERTU (6.4 mg/kg) is approved in several countries for the treatment of adult patients with locally advanced or metastatic HER2 positive gastric or gastroesophageal junction (GEJ) adenocarcinoma who have received a prior trastuzumab-based regimen based on the results from the DESTINY-Gastric01 and/or DESTINY-Gastric02 trial.About the Daiichi Sankyo and AstraZeneca CollaborationDaiichi Sankyo and AstraZeneca entered into a global collaboration to jointly develop and commercialize ENHERTU in March 2019 and datopotamab deruxtecan (Dato-DXd) in July 2020, except in Japan where Daiichi Sankyo maintains exclusive rights for each ADC. Daiichi Sankyo is responsible for the manufacturing and supply of ENHERTU and datopotamab deruxtecan.About Daiichi SankyoDaiichi Sankyo is dedicated to creating new modalities and innovative medicines by leveraging our worldclass science and technology for our purpose 'to contribute to the enrichment of quality of life around the world.' In addition to our current portfolio of medicines for cancer and cardiovascular disease, Daiichi Sankyo is primarily focused on developing novel therapies for people with cancer as well as other diseases with high unmet medical needs. With more than 100 years of scientific expertise and a presence in more than 20 countries, Daiichi Sankyo and its 16,000 employees around the world draw upon a rich legacy of innovation to realize our 2030 Vision to become an 'Innovative Global Healthcare Company Contributing to the Sustainable Development of Society.'Contact:Tel: +49 (89) 78080(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AZN/2023.01.05/FTSE 100 rises on Next boost; focus on business activity data.txt b/news/AZN/2023.01.05/FTSE 100 rises on Next boost; focus on business activity data.txt new file mode 100644 index 0000000000000000000000000000000000000000..05ff1604ba03934a54bfda470fb4fabf9f3fb202 --- /dev/null +++ b/news/AZN/2023.01.05/FTSE 100 rises on Next boost; focus on business activity data.txt @@ -0,0 +1 @@ +The blue-chip FTSE 100 climbed 0.2%, outperforming regional peers in early trading. The domestically-focused FTSE 250 midcap index was muted.British clothing retailer Next surged 7.6% after raising its pretax profit forecast for the current year, pushing the broader retailers index to a more than four-month high.Losses in drugmakers GSK and AstraZeneca weighed on the FTSE 100, losing 1.6% and 0.6%, respectively.Market participants would be looking out for December services sector business activity data, along with a composite reading due at 0930 GMT.Overnight, minutes from the Federal Reserve's December meeting showed that all officials agreed the central bank should slow the pace of its aggressive rate hikes though warned it would not be appropriate to begin reducing rates target in 2023. (Reporting by Shashwat Chauhan in Bengaluru; editing by Uttaresh.V) \ No newline at end of file diff --git a/news/AZN/2023.01.05/Tempus Announces Prospective Study for Biomarker Discovery in Small Cell Lung Cancer.txt b/news/AZN/2023.01.05/Tempus Announces Prospective Study for Biomarker Discovery in Small Cell Lung Cancer.txt new file mode 100644 index 0000000000000000000000000000000000000000..267fdd3a68af3bc18fe593cbcd9dde916e0c6eaf --- /dev/null +++ b/news/AZN/2023.01.05/Tempus Announces Prospective Study for Biomarker Discovery in Small Cell Lung Cancer.txt @@ -0,0 +1,15 @@ + +Tempus, a leader in artificial intelligence and precision medicine, today announced a prospective study (NCT05257551), in collaboration with AstraZeneca (LSE/STO/Nasdaq: AZN), that aims to identify biomarkers of response in patients with small cell lung cancer (SCLC). The study, titled Sculptor, is co-sponsored by Tempus and AstraZeneca’s Personalize SCLC Initiative and is currently open for enrollment. + +In the United States, lung cancer is the second most common cancer, and approximately 13% of people diagnosed with lung cancer have SCLC, according to the American Cancer Society. SCLC is an aggressive disease characterized by rapid growth, early metastasis, and acquired therapeutic resistance in which there is a high unmet need for therapeutic targets. To date, there are limited ways to stratify this specific patient population and limited defined therapeutic targets or associated treatments. + +The Sculptor study is leveraging Tempus’ comprehensive portfolio of molecular profiling offerings to gather the insights necessary to support this kind of early research, with the goal of identifying distinct segments that may benefit from emerging therapies, or a treatable target from which to develop an associated therapy to treat patients with SCLC. This study is currently active at five TIME Trial Network sites, with plans to expand to additional providers across the country to ensure the study’s dataset is representative of the overall SCLC patient population in the United States. + +“This collaborative study will facilitate the investigation of SCLC patient populations to provide us with key insights in hopes of enabling pharmaceutical solutions that increase the overall survival of this disease,” said Kate Sasser, PhD, Chief Scientific Officer at Tempus. “This type of early-stage, prospective study is only possible when combining Tempus’ comprehensive sequencing capabilities, multimodal database, and just-in-time clinical trial network.” + +“We are excited to announce commencement of the first clinical trial stemming from our strategic collaboration with Tempus,” said Cristian Massacesi, Chief Medical Officer & Oncology Chief Development Officer, AstraZeneca. “AstraZeneca’s investigation of novel therapies for SCLC sub-populations is another example of our precision medicine approach and mission to put patients first and follow the science.” + +About Tempus + +Tempus is a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare. With one of the world’s largest libraries of clinical and molecular data, and an operating system to make that data accessible and useful, Tempus enables physicians to make near real-time, data-driven decisions to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics. The goal is for each patient to benefit from the treatment of others who came before by providing physicians with tools that learn as the company gathers more data. For more information, visit tempus.com. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230105005152/en/ \ No newline at end of file diff --git a/news/AZN/2023.01.05/U.S. new drug price exceeds $200,000 median in 2022.txt b/news/AZN/2023.01.05/U.S. new drug price exceeds $200,000 median in 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..2608fc9af6b54b9631bc444c05ac9a2f52a391b5 --- /dev/null +++ b/news/AZN/2023.01.05/U.S. new drug price exceeds $200,000 median in 2022.txt @@ -0,0 +1,40 @@ +Jan 5 (Reuters) - After setting record-high U.S. prices +in the first half of 2022, drugmakers continued to launch +medicines at high prices in the second half, a Reuters analysis +has found, highlighting their power despite new legislation to +lower costs for older prescription products.The median annual price of the 17 novel drugs the U.S. Food +and Drug Administration (FDA) approved since July 2022 is +$193,900, down from $257,000 in the first half of 2022, Reuters +found. For full year 2022, the median was $222,003.In 2021, the median annual price was $180,000 for the 30 +drugs first marketed through mid-July, according to a study +published recently in JAMA.The latest numbers imply double digit year-over-year price +growth."I don't see anything changing that trend," Dr. Aaron +Kesselheim, professor of medicine at Harvard Medical School and +Brigham and Women’s Hospital, told Reuters. Kesselheim, who +co-authored the JAMA study, believes Congress will eventually +have to address excessively high launch prices.The Reuters analysis includes three costly one-time gene +therapies the FDA approved in the second half of 2022. Hemgenix, +CSL Ltd's $3.5 million gene therapy for hemophilia B +was approved in November, making it the most expensive drug in +history.The analysis excludes drugs used intermittently or for +cosmetic purposes, as well as imaging agents, products that have +not yet been launched commercially and drugs intended for use as +part of a bundled reimbursement in a hospital setting.The findings follow a recent analysis from U.S. Democratic +Representative Katie Porter which found that the annual price of +a newly-launched cancer drug in the United States averaged +$283,000 in 2021, a 53% increase from 2017. +The pharmaceutical industry says new drugs, many of which +treat rare diseases, offer value, including the possibility of +fewer emergency room visits and hospital stays.Drugmakers also stress that they do not determine what U.S. +patients end up paying for the medicines. Many offer savings +cards and other programs to reduce out-of-pocket costs.Health insurers and other payers often demand discounts and +rebates for prescription drugs once competing treatments become +available. As patents expire, lower-cost generics also mitigate +prescription drug price inflation, which in the 12 months +through November 2022 was 1.9%, according to the Bureau of Labor +Statistics.Congress last year passed the landmark Inflation Reduction +Act that includes a cap on annual drug price increases and +allows the Medicare health program for seniors to negotiate +prices for up to 20 of the drugs on which it spends the most.The legislation, however, does not limit what drugmakers can +charge for new medications.(Reporting By Deena Beasley; Editing by Caroline Humer and +Josie Kao) \ No newline at end of file diff --git a/news/AZN/2023.01.06/ASTRAZENECA : Gets a Neutral rating from Credit Suisse.txt b/news/AZN/2023.01.06/ASTRAZENECA : Gets a Neutral rating from Credit Suisse.txt new file mode 100644 index 0000000000000000000000000000000000000000..f38be51dc36735c49397d865ddf9d2e79165ba13 --- /dev/null +++ b/news/AZN/2023.01.06/ASTRAZENECA : Gets a Neutral rating from Credit Suisse.txt @@ -0,0 +1 @@ +In a research note, Credit Suisse analyst Dominic Lunn has maintained his recommendation on the stock with a Neutral rating. The target price is increased from GBX 11000 to GBX 11800. \ No newline at end of file diff --git a/news/AZN/2023.01.06/Agreement augments Fusion's existing isotope supply as pipeline of clinical stage actin...txt b/news/AZN/2023.01.06/Agreement augments Fusion's existing isotope supply as pipeline of clinical stage actin...txt new file mode 100644 index 0000000000000000000000000000000000000000..57ed7f4bfb54f5a4814d2a1f2c9b01438f569e9f --- /dev/null +++ b/news/AZN/2023.01.06/Agreement augments Fusion's existing isotope supply as pipeline of clinical stage actin...txt @@ -0,0 +1 @@ +* Furthers BWXT Medical's position as a global leader in medical isotope supply(Ottawa, ON) - Fusion Pharmaceuticals Inc. (Nasdaq: FUSN), and BWXT Medical Ltd., a subsidiary of BWX Technologies, Inc. (NYSE: BWXT), today announced that the companies have entered into a preferred partner agreement for the supply of actinium-225. Under the agreement, BWXT Medical will provide predetermined amounts of Fusion's actinium supply needs at volume-based pricing.Actinium-225 is an alpha-emitting isotope used in targeted alpha therapies (TATs) that combine the isotope with specific tumor-seeking targeting vectors to kill cancer cells while minimizing the impact to healthy tissues. There is growing demand for the isotope but a limited number of suppliers who are currently able to produce meaningful quantities of high purity actinium.Fusion Chief Executive Officer John Valliant, Ph.D., said, "Fusion's portfolio of clinical-stage targeted alpha therapies is expanding, with three proprietary programs in clinical trials and additional programs advancing under our collaboration with AstraZeneca. Based on emerging clinical data in the literature which show the power of alpha particles over conventional beta emitters, we continue to proactively prioritize access to actinium as a critical component of Fusion's development plans and we are excited to partner with BWXT Medical. As an established global leader in medical isotope manufacturing and supply with proven ability to produce high purity actinium, BWXT Medical has the necessary infrastructure and shipping logistics capabilities to support both clinical and commercial scale manufacturing and distribution of medical isotopes. This agreement increases our existing actinium supply for both current programs as well as future business development opportunities and partnered programs, diversifies our supply chain, and establishes a relationship to collaborate on longer-term commercial production needs."BWXT Medical President and Chief Executive Officer Jonathan Cirtain, Ph. D., said, "Excitement for the potential of targeted alpha therapies to treat cancer is growing, and we have made the necessary investments in infrastructure and intellectual property to help meet the increasing global demand for actinium. BWXT Medical is now producing high-purity non-carrier added actinium-225. Fusion is a leading developer of targeted alpha therapies, and we are pleased to work with them as their clinical programs continue to advance."About FusionFusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Fusion connects alpha particle emitting isotopes to various targeting molecules in order to selectively deliver the alpha emitting payloads to tumors. Fusion's lead program, FPI-1434 targeting insulin-like growth factor 1 receptor, is currently in a Phase 1 clinical trial. The pipeline includes FPI-1966, targeting the fibroblast growth factor receptor 3 (FGFR3), advancing to a Phase 1 study following the investigational new drug (IND) clearance; and FPI-2059, a small molecule targeting neurotensin receptor 1 (NTSR1). In addition to a robust proprietary pipeline, Fusion has a collaboration with AstraZeneca to jointly develop novel targeted alpha therapies (TATs) and combination programs between Fusion's TATs and AstraZeneca's DNA Damage Repair Inhibitors (DDRis) and immuno-oncology agents. Fusion has also entered into a collaboration with Merck to evaluate FPI-1434 in combination with Merck's KEYTRUDA® (pembrolizumab) in patients with solid tumors expressing IGF-1R. Fusion and Hamilton, Ontario-based McMaster University are building a current Good Manufacturing Practice (GMP) compliant radiopharmaceutical manufacturing facility designed to support manufacturing of the Company's growing pipeline of TATs.About BWXT MedicalBWXT Medical Ltd. manufactures custom radiopharmaceuticals, radiotherapies and medical isotopes in an 80,000-square-foot cGMP manufacturing facility in Ottawa and at the state-of-the-art commercial cyclotron facility within TRIUMF, Canada's particle acceleration centre. BWXT Medical Ltd. is a subsidiary of BWX Technologies, Inc. (NYSE: BWXT). BWXT is a Fortune 1000 and Defense News Top 100 manufacturing and engineering innovator that provides safe and effective nuclear solutions for global security, clean energy, environmental remediation, nuclear medicine and space exploration. Follow us on Twitter at @BWXT and learn more at www.bwxt.com.Forward Looking StatementsBWX Technologies, Inc. ("BWXT") cautions that this release contains forward-looking statements, including statements relating to expectations for the development, production, performance, demand, timing and impact of Ac-225. These forward-looking statements involve a number of risks and uncertainties, including, among other things, changes in market demand, delays in the development and automation of our production, regulatory approvals and potential supply chain issues. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see BWXT's annual report on Form 10-K for the year ended December 31, 2021 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.###Media ContactJud SimmonsDirector, Media & Public Relations434.522.6462 hjsimmons@bwxt.comInvestor ContactMark KratzVice President, Investor Relations980.365.4300 investors@bwxt.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.01.06/Credit Suisse cuts Next to 'underperform'.txt b/news/AZN/2023.01.06/Credit Suisse cuts Next to 'underperform'.txt new file mode 100644 index 0000000000000000000000000000000000000000..c769844fbcb2b0f9b4fdc89f01eeea9f53ec49a4 --- /dev/null +++ b/news/AZN/2023.01.06/Credit Suisse cuts Next to 'underperform'.txt @@ -0,0 +1 @@ +(Alliance News) - The following London-listed shares received analyst recommendations late Thursday and Friday morning:----------FTSE 100----------Deutsche Bank raises Next price target to 6,100 (5,700) pence - 'hold'----------Credit Suisse cuts Next to 'underperform' (neutral) - price target 6,100 pence----------Goldman Sachs raises Next price target to 6,800 (6,150) pence - 'neutral'----------JPMorgan raises Next price target to 6,000 (5,600) pence - 'neutral'----------Deutsche Bank raises B&M price target to 460 (415) pence - 'hold'----------Goldman Sachs raises B&M price target to 560 (490) pence - 'buy'----------Barclays raises B&M price target to 485 (475) pence - 'overweight'----------Exane BNP starts Experian with 'outperform' - price target 3,200 pence----------Goldman Sachs raises Tesco price target to 290 (245) pence - 'buy'----------Goldman Sachs raises Sainsbury price target to 225 (195) pence - 'neutral'----------Jefferies cuts Standard Chartered price target to 950 (991) pence - 'buy'----------Morgan Stanley cuts Diageo to 'equal-weight' (overweight) - price target 3,900 pence----------Morgan Stanley raises AstraZeneca price target to 12,500 (12,000) pence - equal-weight ----------FTSE 250----------Jefferies raises Greggs price target to 3,050 (2,900) pence - 'buy'----------Berenberg raises Inchcape price target to 1,085 (1,035) pence - 'buy'----------Goldman Sachs cuts easyJet to 'neutral' (buy) - price target 450 (606) pence----------Bank of America cuts Vesuvius to 'neutral' (buy) - price target 410 (475) pence----------Bank of America cuts IMI price target to 2,000 (2,100) pence - 'buy'----------Bank of America raises Bodycote to 'buy' (underperform) ----------SMALL CAP----------Bank of America cuts Deliveroo price target to 100 (125) pence - 'neutral'----------UBS starts Dalata Hotel with 'buy' - price target 5.50 pence ----------Copyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.06/U.S. FDA says Evusheld may not protect against Omicron subvariant XBB.1.5.txt b/news/AZN/2023.01.06/U.S. FDA says Evusheld may not protect against Omicron subvariant XBB.1.5.txt new file mode 100644 index 0000000000000000000000000000000000000000..4652c3b83e9fb23fa65434b71d003238496f9348 --- /dev/null +++ b/news/AZN/2023.01.06/U.S. FDA says Evusheld may not protect against Omicron subvariant XBB.1.5.txt @@ -0,0 +1 @@ +The subvariant has been causing concern among scientists after its rapid spread in the United States in December.While the agency is awaiting additional data to verify how Evusheld works against XBB.1.5, it said it does not expect the drug to neutralize the subvariant due to similarities with other Omicron subvariants against which Evusheld does not work. XBB.1.5 is yet another descendant of Omicron and is an offshoot of XBB, first detected in October, which is itself a recombinant of two other Omicron sub-variants.The agency said it was closely monitoring the emergence of the XBB.1.5 subvariant, which accounted for 27.6% of COVID-19 cases in the United States for the week ending Jan. 7. Evusheld was first authorized in late 2021 in the United States to prevent COVID-19 infections in individuals with weak immune systems or a history of severe side effects from coronavirus vaccines. (Reporting by Bhanvi Satija in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/AZN/2023.01.09/ASTRAZENECA : Barclays reaffirms its Buy rating.txt b/news/AZN/2023.01.09/ASTRAZENECA : Barclays reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..714bb4e273cd4d1e84bbd66cc36bf9e132fa3a8d --- /dev/null +++ b/news/AZN/2023.01.09/ASTRAZENECA : Barclays reaffirms its Buy rating.txt @@ -0,0 +1 @@ +Already positive, the research from Barclays and its analyst Emily Field still consider the stock as a Buy opportunity. The target price is unchanged and still at GBX 12500. \ No newline at end of file diff --git a/news/AZN/2023.01.09/ASTRAZENECA : Gets a Buy rating from JP Morgan.txt b/news/AZN/2023.01.09/ASTRAZENECA : Gets a Buy rating from JP Morgan.txt new file mode 100644 index 0000000000000000000000000000000000000000..e8b3b6621f836bd3ee46a9ea41a69fe93e1d8543 --- /dev/null +++ b/news/AZN/2023.01.09/ASTRAZENECA : Gets a Buy rating from JP Morgan.txt @@ -0,0 +1 @@ +Analyst James Gordon from JP Morgan research considers the stock attractive and recommends it with a Buy rating. The target price is still set at GBX 13500. \ No newline at end of file diff --git a/news/AZN/2023.01.09/ASTRAZENECA : UBS remains Neutral.txt b/news/AZN/2023.01.09/ASTRAZENECA : UBS remains Neutral.txt new file mode 100644 index 0000000000000000000000000000000000000000..241f61437b920d4ded936d3c332679756691201d --- /dev/null +++ b/news/AZN/2023.01.09/ASTRAZENECA : UBS remains Neutral.txt @@ -0,0 +1 @@ +UBS's research confirms his advice and maintains his neutral opinion on the stock. The target price remains unchanged at GBX 10100. \ No newline at end of file diff --git a/news/AZN/2023.01.09/Astra makes USD1.8 billion buy; Keller hit by fraud.txt b/news/AZN/2023.01.09/Astra makes USD1.8 billion buy; Keller hit by fraud.txt new file mode 100644 index 0000000000000000000000000000000000000000..20c3cc0686ada42043b5c34d8cbb9ff2b4626e75 --- /dev/null +++ b/news/AZN/2023.01.09/Astra makes USD1.8 billion buy; Keller hit by fraud.txt @@ -0,0 +1 @@ +(Alliance News) - London's FTSE 100 was called to start the new week higher, after a strong handover from Asia on Monday and a bullish end to the first week of the year in New York. Hopes that the US Federal Reserve would slow the pace of rate hikes, as well a further easing of Covid curbs in China, have lifted the mood. "European open looks set to be a positive one, with Asia markets also getting a boost as China took further steps to reopen its economy, as it relaxed its zero-Covid policy further resuming travel with Hong Kong," CMC Markets analyst Michael Hewson commented. Grim virus infection figures from a province in China served as a reminder of the risks the country faces in reopening, however.Almost 90% of people in China's third most populous province have now been infected with Covid-19, a top official said on Monday.In early UK corporate news, AstraZeneca announced an acquisition, while Keller warned of an earnings hit after finding fraudulent activity at a unit in Australia. Here is what you need to know ahead of the London market open: ----------MARKETS----------FTSE 100: called up 0.2% at 7,717.29----------Nikkei 225: Tokyo closed for Coming of Age Day holidayHang Seng: up 1.8% at 21,365.24S&P/ASX 200: closed up 0.6% at 7,151.30----------DJIA: closed up 700.53 points, 2.1%, at 33,630.61S&P 500: closed up 2.3% at 3,895.08Nasdaq Composite: closed up 2.6% at 10,569.29----------EUR: up at USD1.0672 (USD1.0612)GBP: up at USD1.2134 (USD1.2051)USD: down at JPY132.11 (JPY132.44)GOLD: up at USD1,877.42 per ounce (USD1,861.63)Brent: up at USD79.94 a barrel (USD79.64)(changes since previous London equities close)----------ECONOMICS----------Monday's key economic events still to come: 10:00 GMT EU unemployment11:00 GMT Ireland industrial production----------UK government ministers will hold a series of meetings with union leaders as they seek to prevent future strikes over pay in the NHS, in class rooms, and on the rails. Health Secretary Steve Barclay will meet with leaders including from the Royal College of Nursing on Monday, amid cautious optimism the government might soften its stance. Teaching unions will attend talks with Education Secretary Gillian Keegan ahead of announcements this week over whether their members will go on strike. Rail Minister Huw Merriman is also holding talks on Monday with train workers after sustained action crippled services, with only one in five trains running between Tuesday and Saturday. UK Prime Minister Rishi Sunak raised hopes on Sunday by saying he was willing to discuss pay with health workers, though this is unlikely to prevent strikes if the current pay deal is not renegotiated.----------The UK Treasury is poised to announce a reduced scheme to support businesses with their energy bills after Chancellor Jeremy Hunt warned existing spending is "unsustainably expensive". The new package will be announced to members of Parliament on Monday, with the current cap on the unit cost of electricity and gas for firms set to expire at the end of March. Sources told PA that the replacement will give a discount on wholesale prices, not a fixed price, with very heavy energy-using sectors getting a larger discount than other businesses. No 11 has rolled the pitch for the levels of support to be scaled back, arguing the current scheme costing more than GBP18 billion cannot be sustained forever. Hunt last week told business leaders the level of support was unsustainable and reiterated it was always limited to run for six months.----------Pessimism and low confidence among UK businesses has led firms' recruitment plans to reach the lowest levels in two years, an influential report has found. Employers are pausing hiring plans and considering redundancies to manage rising costs, accounting and advisory firm BDO said in its analysis of more than 4,000 businesses surveyed across different sectors. Optimism and productivity eked up by a fraction in December, but it followed a significant drop in November, therefore remaining well below historic levels. BDO uses employment, inflation, optimism and productivity indices to get an overall picture of business sentiment. A score above 95 points represents growth, and anything below is considered a contraction. In the latest report, business productivity and optimism were both given scores below 92, putting them firmly in negative territory.----------The political chaos of the last year has hit the competitiveness of the UK as a place to manufacture and made it less attractive for foreign investment, according to surveys. Two in five of more than 200 firms surveyed said they believe the UK is now less attractive to foreign investors, while more than half warned that on-going political instability was damaging business confidence. Almost three-quarters of respondents to the Make UK survey expected their energy costs to increase this year, with two-thirds predicting reducing production or cutting jobs despite the government energy support package. Three out of five manufacturers said they were increasingly concerned about energy blackouts affecting their business. Make UK warned that a less generous relief package may not shield companies from the worst of these increases, while excluding some companies which have a high energy exposure but do not currently fall under the traditional 'energy intensive' definition.----------BROKER RATING CHANGES----------Citigroup reinitiates London Stock Exchange Group with 'buy' - price target 8,800 pence----------UBS cuts Ashmore Group to 'neutral' ('buy') - price target 255 (235) pence----------HSBC starts YouGov with 'buy' - price target 1,225 pence----------COMPANIES - FTSE 100----------AstraZeneca said it will fork out up to USD1.8 billion to acquire hypertension and chronic kidney disease therapies developer CinCor Pharma. The deal gives AstraZeneca global right to the baxdrostat high blood pressure treatment. The Cambridge-based pharmaceutical firm will buy outstanding CinCor shares for USD26, plus a possible extra USD10 each depending on regulatory submission of a baxdrostat product. Astra will pay USD1.3 billion upfront, more than twice CinCor's USD515.5 million market capitalisation. The consideration rises to USD1.8 billion if potential contingent value payments are made. ----------Vodafone said the buyers of its Hungary arm have completed due diligence, with the EUR1.7 billion sale to 4iG Public and Corvinus set to take place later this month. "This combination establishes a scaled converged operator across mobile and fixed communications and supports the Hungarian government's goal of creating a national Information and Communications Technology champion. The combined entity will increase competition and accelerate investment in the ongoing digitalisation of Hungary," Vodafone Interim Chief Executive Margherita Della Valle said. The UK company said it will use the cash received to pay down its debt.----------COMPANIES - FTSE 250----------Geotechnical specialist contractor Keller Group said it has identified "deliberate and sophisticated financial reporting fraud" in its Austral arm in Australia. Keller said two individuals have been dismissed and an internal probe is underway. It is also in the process of naming an external adviser to perform an independent investigation. "Austral, contributing [around] 3% of group revenue, is a unique business within the group, and is the only business that exclusively accounts for revenue on a percentage of completion basis in the division," Keller added. The fraud relates to Austral's performance from 2019 onwards. Keller expects a hit of GBP6 million for the first half of 2022 and GBP8 million to GBP10 million relating to prior years. The fraud continued into the second half of 2022, it added. Keller expects full-year operating profit "slightly below" the bottom end of a GBP109 million to GBP114 million market forecast range. For 2021, Keller posted statutory operating profit of GBP80.5 million, or GBP92.8 million on an underlying basis. ----------OTHER COMPANIES----------Video games publisher and developer Frontier Developments expects a first-half revenue hike, helped by the release of the F1 Manager 2022 racing title and survival game Stranded: Alien Dawn. Frontier expects revenue of GBP57 million for the six months to November 30, up 16% year-on-year from GBP49.1 million. For the full-year, however, it no longer expects to meet market consensus forecasts for revenue and operating profit, which stand at GBP135 million and GBP19 million, respectively. Sales across its portfolio were subdued during the key festive period. Frontier also noted an "uncertain contribution" from its Frontier Foundry arm, which publishes games developed by partner studios. "The outturn over the five remaining months of the financial year is dependent on a number of variables, including the timing and contribution from the scheduled Foundry releases and the macro-economic environment. The board believes it is still possible to surpass last year's record revenue performance of GBP114 million, particularly if one of the upcoming Foundry titles is a conspicuous success." Its new top-line guidance is for revenue of "not less" than GBP100 million. ----------Tortilla Mexican Grill expects annual results in line with expectations, despite UK rail strikes hitting trade. For the financial year ended January 1, the dining chain dealt with "ongoing uncertainties impacting the market and wider sector in the short term". It said revenue climbed 20% year-on-year to GBP57.7 million from GBP48.1 million the financial year prior. Fourth-quarter like-for-like growth was 16% on three years earlier, before the onset of the pandemic. "This was despite challenging trading conditions in December due to the combined impact of poor weather and multiple train strikes. Some favourable changes in input costs, together with actions taken by management and the strong trade in the majority of the fourth quarter give the board confidence that FY22 revenue and profit will be in line with market expectations," the company said.----------By Eric Cunha, Alliance News news editorComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.09/AstraZeneca boosts heart, kidney business with $1.8 bln CinCor deal.txt b/news/AZN/2023.01.09/AstraZeneca boosts heart, kidney business with $1.8 bln CinCor deal.txt new file mode 100644 index 0000000000000000000000000000000000000000..280ab3ce7856ee0194e644240143d6911be1072e --- /dev/null +++ b/news/AZN/2023.01.09/AstraZeneca boosts heart, kidney business with $1.8 bln CinCor deal.txt @@ -0,0 +1,46 @@ +*AZN shares slip 1% on Monday*Farxiga-baxdrostat combination could extend franchise - +AZN exec*Fall in value of biotech companies could drive deal-makingJan 9 (Reuters) - AstraZeneca said on Monday it +had struck a deal to buy U.S.-based drug developer CinCor Pharma +Inc for up to $1.8 billion to increase its stock of +heart and kidney drugs.Core to the deal is CinCor's experimental therapy +baxdrostat, which is in development to treat conditions +including high blood pressure and chronic kidney disease.AstraZeneca aims to combine baxdrostat with its own Farxiga, +a diabetes drug whose sales ballooned after it was also shown to +benefit patients with heart failure and kidney disease.Farxiga, whose sales jumped by almost 50% during the first +nine months of 2022 to reach $3.2 billion, belongs to a highly +competitive class of drugs that includes rivals such as +Boehringer Ingelheim and Eli Lilly's Jardiance.AstraZeneca gets about a third of its revenue from cancer +drugs, but its heart, kidney and diabetes medicines are its +second most lucrative business by sales, generating roughly $6.9 +billion of the drugmaker's total revenue of more than $33 +billion in the first three quarters of 2022.Farxiga and the oncology drugs Lynparza and Calquence could +face generic competition as early as 2024, BMO Capital Market +analysts said in a note last week, citing their own assumptions +and company filings.In theory, a combination of baxdrostat with Farxiga could +enable AstraZeneca to prolong its Farxiga franchise, Mene +Pangalos, executive vice president of bioPharmaceuticals R&D at +AstraZeneca, said.DEAL AT NEARLY 121% PREMIUMThe Anglo-Swedish drugmaker on Monday agreed to pay $26 per +CinCor share in cash, or $1.3 billion in total, a premium of +nearly 121% to the U.S.-based company's closing price on Friday.The offer also includes a non-tradable contingent value +right of $10 per share in cash payable upon a specified +regulatory baxdrostat submission.CinCor's shares closed at $11.78 on Friday, well below its +initial public offering price of $16 per share in January 2022."Obviously, there's been a devaluation of biotech companies +over the past year," said Pangalos. "I think we're very happy +with what we've managed to achieve here in terms of the cost."The value of the Nasdaq Biotechnology Index fell +around 20% by mid-December from its peak in August 2021, giving +large drugmakers impetus to seek deals to replenish their +pipelines as their big sellers approach the end of their patent +life.CinCor's baxdrostat has a mixed track record in treating +hypertension.Although it succeeded in a phase II treatment-resistent +hypertension trial, the drug failed to outperform a placebo in +another mid-stage study involving patients with uncontrolled +high blood pressure.In mid-session trading on Monday, AstraZeneca's stock +slipped about 1%.Before joining CinCor, CEO Marc de Garidel led AstraZeneca- +spinoff Corvidia Therapeutics, which Novo Nordisk +took over in 2020 for $2.1 billion.Garidel is also chairman (and former CEO) of French +drugmaker Ipsen, which separately on Monday agreed to +buy U.S-based drugmaker Albireo for just under $1 +billion to enrich its rare disease pipeline. +(Additional reporting by Radhika Anilkumar in Bengaluru and +Ludwig Burger in Frankfurt; editing by Susan Fenton, Jason Neely +and Barbara Lewis) \ No newline at end of file diff --git a/news/AZN/2023.01.09/AstraZeneca buys biotech CinCor for up to USD1.8 billion .txt b/news/AZN/2023.01.09/AstraZeneca buys biotech CinCor for up to USD1.8 billion .txt new file mode 100644 index 0000000000000000000000000000000000000000..cbab29633b9e525736cf287a2e0ce52958b00bf9 --- /dev/null +++ b/news/AZN/2023.01.09/AstraZeneca buys biotech CinCor for up to USD1.8 billion .txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC on Monday said it has acquired CinCor Pharma Inc for an upfront cash consideration of around USD1.3 billion, though the fee could rise to USD1.8 billion. AstraZeneca is a Cambridge, UK-based science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in oncology, rare diseases, and biopharmaceuticals.The company said it will initiate a tender offer for all of CinCor's outstanding shares, paying USD26 each, as well as a non-tradeable contingent value right of USD10 per share.AstraZeneca said the cost of the acquisition of CinCor - a Waltham, US-based clinical-stage biopharmaceutical company - will come to a maximum of USD1.8 billion. CinCor shares closed 0.4% higher at USD11.78 each in New York on Friday, giving it a USD515.5 million market capitalisation. As part of the transaction, AstraZeneca will acquire CinCor's cash and marketable securities, which totalled USD522 million as of September 30. Mene Pangalos, executive vice president of biopharmaceuticals R&D at AstraZeneca said: "Acquiring CinCor supports our commitment to cardiorenal disease and further strengthens our pipeline with baxdrostat."The company said baxdrostat, a CinCor candidate drug, "represents a potentially leading next-generation [aldosterone synthase inhibitor] as it is highly selective for aldosterone synthase and spares the cortisol pathway in humans". AstraZeneca said the acquisition brings the potential for the combination of baxdrostat with its Farxiga drug, and complements its "strategy to provide added benefit across cardiorenal diseases, where there is a high unmet medical need."AstraZeneca shares were trading 0.9% lower at 11,672.00 pence per share on Monday morning in London.By Harvey Dorset, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.09/AstraZeneca to buy U.S.-based CinCor Pharma in $1.8 billion deal.txt b/news/AZN/2023.01.09/AstraZeneca to buy U.S.-based CinCor Pharma in $1.8 billion deal.txt new file mode 100644 index 0000000000000000000000000000000000000000..a5ee3c572f804098c72762cf3856ceb11b6e37a5 --- /dev/null +++ b/news/AZN/2023.01.09/AstraZeneca to buy U.S.-based CinCor Pharma in $1.8 billion deal.txt @@ -0,0 +1 @@ + (Reporting by Radhika Anilkumar in Bengaluru; Editing by Savio D'Souza) \ No newline at end of file diff --git a/news/AZN/2023.01.09/Astrazeneca : to acquire CinCor Pharma to strengthen cardiorenal pipeline.txt b/news/AZN/2023.01.09/Astrazeneca : to acquire CinCor Pharma to strengthen cardiorenal pipeline.txt new file mode 100644 index 0000000000000000000000000000000000000000..3ef3b7046c91f39f62011f57ab5f32a5a6cf8f4d --- /dev/null +++ b/news/AZN/2023.01.09/Astrazeneca : to acquire CinCor Pharma to strengthen cardiorenal pipeline.txt @@ -0,0 +1,25 @@ + + + +Acquisition to access global rights to baxdrostat, a novel aldosterone synthase inhibitor in development for blood pressure lowering + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +AstraZeneca plc published this content on 09 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 January 2023 07:08:14 UTC. + + diff --git a/news/AZN/2023.01.10/Astrazeneca strikes $1.8bn deal for Cincor.txt b/news/AZN/2023.01.10/Astrazeneca strikes $1.8bn deal for Cincor.txt new file mode 100644 index 0000000000000000000000000000000000000000..77901c7566c5af733deb9b951aaae2df3fe97171 --- /dev/null +++ b/news/AZN/2023.01.10/Astrazeneca strikes $1.8bn deal for Cincor.txt @@ -0,0 +1 @@ +ASTRAZENECA yesterday said it had struck a deal to buy US-based drug developer Cincor Pharma for up to $1.8bn (£1.4bn) to increase its stock of heart and kidney drugs.Core to the deal is Cincor's experimental therapy baxdrostat, which is in development to treat conditions including high blood pressure and chronic kidney disease.Astrazeneca aims to combine baxdrostat with its own Farxiga, a diabetes drug whose sales ballooned after it was also shown to benefit patients with heart failure and kidney disease.Farxiga, whose sales jumped by almost 50 per cent during the first nine months of 2022 to reach $3.2bn, belongs to a highly competitive class of drugs that includes rivals such as Boehringer Ingelheim.Astrazeneca gets about a third of its revenue from cancer drugs, but its heart, kidney and diabetes medicines are its second most lucrative business by sales, generating roughly $6.9bn of the drugmaker's total revenue of more than $33bn in the first three quarters of 2022.Farxiga and the oncology drugs Lynparza and Calquence could face generic competition as early as 2024, BMO Capital Market analysts said in a note last week.In theory, a combination of baxdrostat with Farxiga could enable Astrazeneca to prolong its Farxiga franchise, Mene Pangalos, executive VP of biopharmaceuticals research and development at Astrazeneca, said.The Anglo-Swedish drugmaker on Monday agreed to pay $26 per Cincor share in cash, or $1.3bn in total, a premium of nearly 121 per cent to the USbased company's closing price on Friday. The offer also includes a nontradable contingent value right of $10 per share in cash payable upon a specified regulatory baxdrostat submission.Reuters(c) 2023 City A.M., source Newspaper \ No newline at end of file diff --git a/news/AZN/2023.01.10/C4X Discovery promotes Nick Ray to chief scientific officer.txt b/news/AZN/2023.01.10/C4X Discovery promotes Nick Ray to chief scientific officer.txt new file mode 100644 index 0000000000000000000000000000000000000000..aa28ad0dea8e8a4321059601f4dde6bf75e1548c --- /dev/null +++ b/news/AZN/2023.01.10/C4X Discovery promotes Nick Ray to chief scientific officer.txt @@ -0,0 +1 @@ +(Alliance News) - C4X Discovery Holdings PLC on Tuesday said it appointed a new scientific officer, promoting internally.The drug discovery company said Nick Ray was promoted to CSO with immediate effect from his previous role as senior vice president in drug discovery.Ray previously led the medicinal chemistry, structural analysis and computational chemistry and cheminformatics teams. C4X Discovery said Ray will continue to work towards advancing the company's drug discovery portfolio, from target selection through to pre-clinical candidate generation and partnering, alongside development of its conformational analysis technology 4Sight."Nick has played a key role in the growth of C4XD and its reputation as a leading drug discovery company," said Chief Executive Officer Clive Dix. "Since joining the company in 2016, his in-depth scientific expertise, particularly in medicinal and computational chemistry, has enabled C4XD to develop a growing portfolio of high quality small molecule drug discovery programmes, the very core of our business."Nick is highly respected both within C4XD and across our industry, and more recently, he has made a significant contribution to the commercial side of the business with the successful partnering of our IL-17A Inhibitor programme with Sanofi [SA] and our NRF2 Activator programme with AstraZeneca [PLC]."Shares in C4X Discovery were up 1.4% to 18.00 pence each in London on Tuesday afternoon.By Greg Rosenvinge, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.10/MarketScreener's World Press Review: January 10.txt b/news/AZN/2023.01.10/MarketScreener's World Press Review: January 10.txt new file mode 100644 index 0000000000000000000000000000000000000000..4bed09fd8aed18aff6287b521ecab839365e9c89 --- /dev/null +++ b/news/AZN/2023.01.10/MarketScreener's World Press Review: January 10.txt @@ -0,0 +1,11 @@ + +AstraZeneca, CinCor, Bayer, Lukoil, Morgan Stanley, Rite Aid, Cargill, CureVac, Novavax, Harmony Biosciences & Sanofi, Pfizer & Zhejiang Huahai, Lululemon, American Eagle Outfitters, Abercrombie & Fitch, Intel, Apple, Broadcom, Qualcomm, Inari Amertron, Walt Disney, Microsoft, Coca-Cola, PepsiCo, Bed Bath & Beyond, Lockheed Martin, Fujitsu feature in this press review! + + + + +  + +  +  +  diff --git "a/news/AZN/2023.01.11/AIRSUPRA\342\204\242 (PT027) approved in the US for asthma.txt" "b/news/AZN/2023.01.11/AIRSUPRA\342\204\242 (PT027) approved in the US for asthma.txt" new file mode 100644 index 0000000000000000000000000000000000000000..ef18931504ae8a83f7a1d75b57fb6c78bf779f8a --- /dev/null +++ "b/news/AZN/2023.01.11/AIRSUPRA\342\204\242 (PT027) approved in the US for asthma.txt" @@ -0,0 +1,211 @@ + +AIRSUPRA™ (albuterol/budesonide), formerly known as PT027, has been approved in the US for the as-needed treatment or prevention of bronchoconstriction and to reduce the risk of exacerbations in people with asthma aged 18 years and older. + +The approval by the Food and Drug Administration (FDA) was based on results from the MANDALA and DENALI Phase III trials.1,2 In MANDALA, AIRSUPRA significantly reduced the risk of severe exacerbations compared to albuterol in patients with moderate to severe asthma when used as an as-needed rescue medication in response to symptoms.1 Importantly, in the secondary endpoint of mean annualized total systemic corticosteroid exposure, AIRSUPRA demonstrated a significant reduction compared to albuterol at the approved dose of 180mcg albuterol/160mcg budesonide.1 In DENALI, AIRSUPRA significantly improved lung function compared to the individual components albuterol and budesonide in patients with mild to moderate asthma.2 + +AIRSUPRA is a first-in-class, pressurized metered-dose inhaler (pMDI), fixed-dose combination rescue medication containing albuterol, a short-acting beta2-agonist (SABA), and budesonide, an anti-inflammatory inhaled corticosteroid (ICS) in the US. It is being developed by AstraZeneca and Avillion. + +Bradley E. Chipps, Past President of the American College of Allergy, Asthma & Immunology and Medical Director of Capital Allergy & Respiratory Disease Center in Sacramento, US, said: “People with asthma are at risk of severe exacerbations regardless of their disease severity or level of control. Current albuterol rescue inhalers alleviate acute symptoms, but do not treat the underlying inflammation in asthma. The approval of AIRSUPRA means that for the first time, adults with asthma in the US have a rescue treatment to manage both their symptoms and the inflammatory nature of their disease.” + +Mene Pangalos, Executive Vice President, BioPharmaceuticals R&D, AstraZeneca, said: “With patients experiencing more than 10 million asthma exacerbations each year in the US and uncontrolled asthma expected to cost the US economy billions of dollars in direct medical costs alone over the next 20 years, today’s positive decision is good news for those adults with asthma who make up more than 80% of asthma patients in the US. Physicians will be able to offer their patients AIRSUPRA, an important new rescue treatment that reduces the risk of asthma exacerbations.” + +Asthma is a chronic, inflammatory respiratory disease with variable symptoms that affects as many as 262 million people worldwide.3 In the US over 21 million adults have asthma, representing more than 80% of the total number of people with asthma.4 Adults have 8.5 million exacerbations each year in the US.4 Uncontrolled asthma will cost the US economy an estimated $300 billion (in 2018 dollar values) in the next 20 years in direct medical costs alone.5 + +The safety and tolerability of AIRSUPRA in both trials were consistent with the known profiles of the components,1,2 with the most common adverse events including headache, oral candidiasis, cough and dysphonia.6 + +Results from the MANDALA trial were published in the New England Journal of Medicine in May 2022.1 + +INDICATION + +AIRSUPRA is a combination of albuterol, a beta2-adrenergic agonist and budesonide, a corticosteroid, indicated for the as-needed treatment or prevention of bronchoconstriction and to reduce the risk of exacerbations in patients with asthma 18 years of age and older. + +IMPORTANT SAFETY INFORMATION + +Please see full Prescribing Information, including Patient Information. + +Notes + +Asthma + +Asthma is a chronic, inflammatory respiratory disease with variable symptoms that affects as many as 262 million people worldwide,3 including over 25 million in the US.4 + +Patients with asthma experience recurrent breathlessness and wheezing, which varies over time, and in severity and frequency.7 These patients are at risk of severe exacerbations regardless of their disease severity, adherence to treatment or level of control.8,9 + +There are an estimated 136 million asthma exacerbations globally per year,10 including more than 10 million in the US;4 these are physically threatening and emotionally significant for many patients11 and can be fatal.3,12 + +Inflammation is central to both asthma symptoms8 and exacerbations.13 Many patients experiencing asthma symptoms use a SABA (e.g. albuterol) as a rescue medicine;14-16 however, taking a SABA alone does not address inflammation, leaving patients at risk of severe exacerbations,17 which can result in impaired quality of life,18 hospitalization19 and frequent oral corticosteroid (OCS) use.19 Treatment of exacerbations with as few as 1-3 short courses of OCS are associated with an increased risk of adverse health conditions including type 2 diabetes, depression/anxiety, renal impairment, cataracts, cardiovascular disease, pneumonia and fracture.20 International recommendations from the Global Initiative for Asthma no longer recommend SABA alone as the preferred rescue therapy.7 + +MANDALA, DENALI and the CREST (Combination REliever STudies) program + +The CREST clinical trial program studied the efficacy and safety of PT027 and included the MANDALA,1,21,22 DENALI2,23,24 and TYREE25 Phase III trials. + +MANDALA1,21,22 was a Phase III, randomized, double-blind, multicenter, parallel-group, event-driven trial evaluating the efficacy and safety of AIRSUPRA compared to albuterol on the time to first severe asthma exacerbation in 3,132 adults, adolescents, and children (aged 4–11 years) with moderate to severe asthma taking ICS alone or in combination with a range of asthma maintenance therapies, including long-acting beta2-agonists (LABA), leukotriene receptor antagonists (LTRA), long-acting muscarinic antagonists (LAMA) or theophylline. The trial comprised a two-to-four-week screening period, at least a 24-week treatment period and a two-week post-treatment follow-up period. + +Patients were randomly assigned to one of the following three treatment groups in a 1:1:1 ratio: AIRSUPRA 180/160mcg (excluding children aged 4–11 years), albuterol/budesonide 180/80mcg or albuterol 180mcg, taken as an as-needed rescue medicine. AIRSUPRA and the albuterol comparator were delivered in a pMDI using AstraZeneca’s Aerosphere delivery technology. The primary efficacy endpoint was the time to first severe asthma exacerbation during the treatment period. Secondary endpoints included severe exacerbation rate (annualized), total systemic corticosteroid exposure (annualized), asthma control and health-related quality of life. + +Results from the positive MANDALA Phase III trial showed that AIRSUPRA demonstrated a statistically significant reduction in the risk of a severe exacerbation versus albuterol rescue in patients with moderate to severe asthma.1,22 Compared with albuterol rescue, AIRSUPRA at the 180mcg albuterol/160mcg budesonide dose reduced the risk of a severe exacerbation by 27% (p<0.001) in adults and adolescents.1,22 + +Primary and secondary endpoint results in adults and adolescents1,22 +(pre-planned on-treatment efficacy analysis) + +Treatment Group + +Comparison versus albuterol 180mcg + +Time to first severe exacerbation + +n + +Number (%) of Patients with a Severe Exacerbation a, b + +Hazard Ratio +(95% CI) + +p value (2‑sided) + +AIRSUPRA 180/160mcg + +1013 + +207 (20.4) + +0.73 (0.61, 0.88) + +<0.001 + +Albuterol 180mcg + +1014 + +266 (26.2) + +  + +Annualized severe exacerbation rate (rate ratio) + +n + +Number of Severe Exacerbations a, b + +Annualized rate +(95% CI) + +Rate Ratio +(95% CI) + +AIRSUPRA 180/160mcg + +1013 + +334 + +0.45 (0.34, 0.60) + +0.76 (0.62, 0.93) + +Albuterol 180mcg + +1014 + +413 + +0.59 (0.44, 0.78) + +  + +Annualized total SCS dose (mg/year) + +n + +Mean (SD) b + +% reduction in mean + +AIRSUPRA 180/160mcg + +1012 + +86.2 (262.86) + +33.4% + +Albuterol 180mcg + +1011 + +129.3 (657.19) + +  + +aDeterioration of asthma requiring use of SCS for ≥3 days, or inpatient hospitalization, or emergency room visit, that required SCS. bBefore discontinuation of randomized treatment or change in maintenance therapy. +CI, confidence interval; SCS, systemic corticosteroid; SD, standard deviation + +Primary endpoint results in adults, adolescents, and children1,22 +(pre-planned on-treatment efficacy analysis) + +Treatment Group + +Comparison versus albuterol 180mcg + +Time to first severe exacerbation + +n + +Number (%) of Patients with a Severe Exacerbation a, b + +Hazard Ratio +(95% CI) + +p value (2‑sided) + +Albuterol/budesonide 180/80mcg + +1054 + +241 (22.9) + +0.83 (0.70, 0.99) + +0.041 + +Albuterol 180mcg + +1056 + +276 (26.1) + +  + +aDeterioration of asthma requiring use of SCS for ≥3 days, or inpatient hospitalization, or emergency room visit, that required SCS. bBefore discontinuation of randomized treatment or change in maintenance therapy. +CI, confidence interval + +Adverse events (AEs) were similar across the treatment groups in the trial and consistent with the known safety profiles of the individual components, with the most common AEs including nasopharyngitis and headache.1,22 + +DENALI2,23,24 was a Phase III, randomized, double-blind, placebo-controlled, multicenter, parallel-group trial evaluating the efficacy and safety of AIRSUPRA compared to its components albuterol and budesonide on improvement in lung function in 1,001 adults, adolescents, and children aged 4–11 years with mild to moderate asthma previously treated either with SABA as-needed alone or in addition to regular low-dose ICS maintenance therapy. The trial comprised a two-to-four-week screening period, a 12-week treatment period and a two-week post-treatment follow-up period. + +Patients were randomly assigned to one of the following five treatment groups in a 1:1:1:1:1 ratio: AIRSUPRA 180/160mcg four times daily (excluding children aged 4–11 years), albuterol/budesonide 180/80mcg four times daily, albuterol 180mcg four times daily, budesonide 160mcg four times daily (excluding children aged 4–11 years) and placebo four times daily. AIRSUPRA, the albuterol and budesonide comparators and placebo were delivered in a pMDI using AstraZeneca’s Aerosphere delivery technology. The dual primary efficacy endpoints were change from baseline in FEV1 area under the curve 0-6 hours over 12 weeks of AIRSUPRA compared to budesonide to assess the effect of albuterol and change from baseline in trough FEV1 at Week 12 of AIRSUPRA compared to albuterol to assess the effect of budesonide. Secondary endpoints included the time to onset and duration of response on day one, number of patients who achieved a clinically meaningful improvement in asthma control from baseline at Week 12 and trough FEV1 at Week 1. + +In the trial, AIRSUPRA demonstrated a statistically significant improvement in lung function measured by forced expiratory volume in one second (FEV1), compared to the individual components albuterol and budesonide, and compared to placebo in patients with mild to moderate asthma aged 12 years or older. Onset of action and duration of effect were similar for AIRSUPRA and albuterol. The safety and tolerability of AIRSUPRA in DENALI was consistent with the known profiles of the components. + +AIRSUPRA + +AIRSUPRA (albuterol/budesonide), formerly known as PT027, is a first-in-class SABA/ICS rescue treatment for asthma in the US, to be taken as needed. It is an inhaled, fixed-dose combination rescue medication containing albuterol (also known as salbutamol), a SABA, and budesonide, a corticosteroid, and has been developed in a pMDI using AstraZeneca’s Aerosphere delivery technology. + +AstraZeneca and Avillion collaboration + +In March 2018, AstraZeneca and Avillion signed an agreement to advance AIRSUPRA through a global clinical development program for the treatment of asthma. Under the terms of the agreement, Avillion became the trial sponsor responsible for executing and funding the multicenter, global clinical trial program for AIRSUPRA through NDA filing to a regulatory decision in the US. Following the successful approval of AIRSUPRA, AstraZeneca has the option, upon certain financial payments, to commercialize the medicine in the US. + +AstraZeneca in Respiratory and Immunology + +Respiratory & Immunology, part of BioPharmaceuticals, is one of AstraZeneca’s main disease areas and is a key growth driver for the Company. + +AstraZeneca is an established leader in respiratory care with a 50-year heritage. The Company aims to transform the treatment of asthma and COPD by focusing on earlier biology-led treatment, eliminating preventable asthma attacks, and removing COPD as a top-three leading cause of death. The Company’s early respiratory research is focused on emerging science involving immune mechanisms, lung damage and abnormal cell-repair processes in disease and neuronal dysfunction. + +With common pathways and underlying disease drivers across respiratory and immunology, AstraZeneca is following the science from chronic lung diseases to immunology-driven disease areas. The Company’s growing presence in immunology is focused on five mid- to late-stage franchises with multi-disease potential, in areas including rheumatology (including systemic lupus erythematosus), dermatology, gastroenterology, and systemic eosinophilic-driven diseases. AstraZeneca’s ambition in Respiratory & Immunology is to achieve disease modification and durable remission for millions of patients worldwide. + +AstraZeneca + +AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialization of prescription medicines in Oncology, Rare Diseases and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries, and its innovative medicines are used by millions of patients worldwide. For more information, please visit www.astrazeneca-us.com and follow us on Twitter @AstraZenecaUS. + +References +View source version on businesswire.com: https://www.businesswire.com/news/home/20230111005595/en/ \ No newline at end of file diff --git a/news/AZN/2023.01.11/ASTRAZENECA : JP Morgan reaffirms its Buy rating.txt b/news/AZN/2023.01.11/ASTRAZENECA : JP Morgan reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..bbb36b2e910d5ebd6487470b85a26f28da53719a --- /dev/null +++ b/news/AZN/2023.01.11/ASTRAZENECA : JP Morgan reaffirms its Buy rating.txt @@ -0,0 +1 @@ +Already positive, the research from JP Morgan and its analyst James Gordon still consider the stock as a Buy opportunity. The target price remains set at GBX 13500. \ No newline at end of file diff --git a/news/AZN/2023.01.11/Airsupra (PT027) approved in the US for asthma.txt b/news/AZN/2023.01.11/Airsupra (PT027) approved in the US for asthma.txt new file mode 100644 index 0000000000000000000000000000000000000000..61089ea209472fd8573b6e15ed2bd5c1d5567a4e --- /dev/null +++ b/news/AZN/2023.01.11/Airsupra (PT027) approved in the US for asthma.txt @@ -0,0 +1 @@ +* First and only rescue medication approved in the US for as-needed use to reduce risk of asthma exacerbationsAirsupra (albuterol/budesonide), formerly known as PT027, has been approved in the US for the as-needed treatment or prevention of bronchoconstriction and to reduce the risk of exacerbations in people with asthma aged 18 years and older.The approval by the Food and Drug Administration (FDA) was based on results from the MANDALA and DENALI Phase III trials.1,2 In MANDALA, Airsupra significantly reduced the risk of severe exacerbations compared to albuterol in patients with moderate to severe asthma when used as an as-needed rescue medication in response to symptoms.1 Importantly, in the secondary endpoint of mean annualised total systemic corticosteroid exposure, Airsupra demonstrated a significant reduction compared to albuterol at the approved dose of 180mcg albuterol/160mcg budesonide.1 In DENALI, Airsupra significantly improved lung function compared to the individual components albuterol and budesonide in patients with mild to moderate asthma.2Airsupra is a first-in-class, pressurised metered-dose inhaler (pMDI), fixed-dose combination rescue medication containing albuterol, a short-acting beta2-agonist (SABA), and budesonide, an anti-inflammatory inhaled corticosteroid (ICS) in the US. It is being developed by AstraZeneca and Avillion.Bradley E. Chipps, Past President of the American College of Allergy, Asthma & Immunology and Medical Director of Capital Allergy & Respiratory Disease Center in Sacramento, US, said: "People with asthma are at risk of severe exacerbations regardless of their disease severity or level of control. Current albuterol rescue inhalers alleviate acute symptoms, but do not treat the underlying inflammation in asthma. The approval of Airsupra means that for the first time, adults with asthma in the US have a rescue treatment to manage both their symptoms and the inflammatory nature of their disease."Mene Pangalos, Executive Vice President, BioPharmaceuticals R&D, AstraZeneca, said: "With patients experiencing more than 10 million asthma exacerbations each year in the US and uncontrolled asthma expected to cost the US economy billions of dollars in direct medical costs alone over the next 20 years, today's positive decision is good news for those adults with asthma who make up more than 80% of asthma patients in the US. Physicians will be able to offer their patients Airsupra, an important new rescue treatment that reduces the risk of asthma exacerbations."Asthma is a chronic, inflammatory respiratory disease with variable symptoms that affects as many as 262 million people worldwide.3 In the US over 21 million adults have asthma, representing more than 80% of the total number of people with asthma.4 Adults have 8.5 million exacerbations each year in the US.4 Uncontrolled asthma will cost the US economy an estimated $300 billion (in 2018 dollar values) in the next 20 years in direct medical costs alone.5The safety and tolerability of Airsupra in both trials were consistent with the known profiles of the components,1,2 with the most common adverse events including headache, oral candidiasis, cough and dysphonia.6Results from the MANDALA trial were published in the New England Journal of Medicine in May 2022.1NotesAsthmaAsthma is a chronic, inflammatory respiratory disease with variable symptoms that affects as many as 262 million people worldwide,3 including over 25 million in the US.4Patients with asthma experience recurrent breathlessness and wheezing, which varies over time, and in severity and frequency.7 These patients are at risk of severe exacerbations regardless of their disease severity, adherence to treatment or level of control.8,9There are an estimated 136 million asthma exacerbations globally per year,10 including more than 10 million in the US;4 these are physically threatening and emotionally significant for many patients11 and can be fatal.3,12Inflammation is central to both asthma symptoms8 and exacerbations.13 Many patients experiencing asthma symptoms use a SABA (e.g. albuterol) as a rescue medicine;14-16 however, taking a SABA alone does not address inflammation, leaving patients at risk of severe exacerbations,17 which can result in impaired quality of life,18 hospitalisation19 and frequent oral corticosteroid (OCS) use.19 Treatment of exacerbations with as few as 1-3 short courses of OCS are associated with an increased risk of adverse health conditions including type 2 diabetes, depression/anxiety, renal impairment, cataracts, cardiovascular disease, pneumonia and fracture.20 International recommendations from the Global Initiative for Asthma no longer recommend SABA alone as the preferred rescue therapy.7MANDALA, DENALI and the CREST (Combination REliever STudies) programmeThe CREST clinical trial programme studied the efficacy and safety of PT027 and included the MANDALA,1,21,22 DENALI2,23,24 and TYREE25 Phase III trials.MANDALA1,21,22 was a Phase III, randomised, double-blind, multicentre, parallel-group, event-driven trial evaluating the efficacy and safety of Airsupra compared to albuterol on the time to first severe asthma exacerbation in 3,132 adults, adolescents, and children (aged 4-11 years) with moderate to severe asthma taking ICS alone or in combination with a range of asthma maintenance therapies, including long-acting beta2-agonists (LABA), leukotriene receptor antagonists (LTRA), long-acting muscarinic antagonists (LAMA) or theophylline. The trial comprised a two-to-four-week screening period, at least a 24-week treatment period and a two-week post-treatment follow-up period.Patients were randomly assigned to one of the following three treatment groups in a 1:1:1 ratio: Airsupra 180/160mcg (excluding children aged 4-11 years), albuterol/budesonide180/80mcg or albuterol 180mcg, taken as an as-needed rescue medicine. Airsupra and the albuterol comparator were delivered in a pMDI using AstraZeneca's Aerosphere delivery technology. The primary efficacy endpoint was the time to first severe asthma exacerbation during the treatment period. Secondary endpoints included severe exacerbation rate (annualised), total systemic corticosteroid exposure (annualised), asthma control and health-related quality of life.Results from the positive MANDALA Phase III trial showed that Airsupra demonstrated a statistically significant reduction in the risk of a severe exacerbation versus albuterol rescue in patients with moderate to severe asthma.1,22 Compared with albuterol rescue, Airsupra at the 180mcg albuterol/160mcg budesonide dose reduced the risk of a severe exacerbation by 27% (p.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.01.11/FDA approves AstraZeneca asthma drug Airsupra for adults.txt b/news/AZN/2023.01.11/FDA approves AstraZeneca asthma drug Airsupra for adults.txt new file mode 100644 index 0000000000000000000000000000000000000000..80512c855fde90828e9b346cc79bc525b8c4791b --- /dev/null +++ b/news/AZN/2023.01.11/FDA approves AstraZeneca asthma drug Airsupra for adults.txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC on Wednesday said the US Food & Drug Administration approved its asthma drug Airsupra for adults.Citing the Centers for Disease Control & Prevention, AstraZeneca said asthma affects around 25 million people in the US. In a phase 3 study entitled Denali, "Airsupra significantly improved lung function compared to the individual components albuterol and budesonide in patients with mild to moderate asthma," Astra said. Albuterol is used to prevent and treat breathing difficulties, while budesonide treats asthma and chronic obstructive pulmonary disease. "With patients experiencing more than 10 million asthma exacerbations each year in the US and uncontrolled asthma expected to cost the US economy billions of dollars in direct medical costs alone over the next 20 years, today’s positive decision is good news for those adults with asthma who make up more than 80% of asthma patients in the US. Physicians will be able to offer their patients Airsupra, an important new rescue treatment that reduces the risk of asthma exacerbations," said Mene Pangalos, executive vice president at AstraZeneca's BioPharmaceuticals research & development unit.AstraZeneca shares were 0.6% lower at 11,736.00 pence each on Wednesday afternoon in London.By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.11/Ono Pharmaceutical Co., Ltd. - Revision of Electronic Package Insert of Forxiga, a Sele...txt b/news/AZN/2023.01.11/Ono Pharmaceutical Co., Ltd. - Revision of Electronic Package Insert of Forxiga, a Sele...txt new file mode 100644 index 0000000000000000000000000000000000000000..1082b3e7ec750528f07a80310ff81db434c9fd37 --- /dev/null +++ b/news/AZN/2023.01.11/Ono Pharmaceutical Co., Ltd. - Revision of Electronic Package Insert of Forxiga, a Sele...txt @@ -0,0 +1 @@ +AstraZeneca K.K. (Osaka, Japan; President and Representative Director: Takafumi Hori) and Ono Pharmaceutical Co., Ltd. (Osaka, Japan; President and CEO: Gyo Sagara) announced that the electronic Japanese package insert of Forxiga (generic name: dapagliflozin propylene glycolate hydrate) Tablets 5mg, 10mg ('Forxiga'), an inhibitor of sodium-glucose co-transporter 2 (SGLT2) has been revised for currently approved indication of chronic heart failure.In this revision, the description related to 'left ventricular ejection fraction' in the 'Precautions related to Indications' for the approved chronic heart failure was deleted, and its concerned information was added.The main revisions are as follows: The description 'Safety and efficacy of Forxiga have not been established for the treatment of chronic heart failure with preserved left ventricular ejection fraction, and therefore, it should be administered to patients with reduced chronic heart failure' In the item of ''Precautions related to Indications' was deleted.The results of the global Phase III trial (DELIVER trial) in patients with chronic heart failure with preserved left ventricular ejection fraction were added to the 'Clinical Studies' section.These revisions have been made based on the results of the DELIVER trial described above. This revision of the electronic package insert allows Farxiga to be used as a treatment of patients with chronic heart failure regardless of left ventricular ejection fraction.The currently approved indications of Forxiga in Japan are 'type 2 diabetes mellitus', 'type 1 diabetes mellitus', 'chronic heart failure (limited to the patients who receive standard of care for chronic heart failure)' and 'chronic kidney disease (excluding patients with end-stage renal disease or undergoing dialysis)'.AstraZeneca and Ono Pharmaceutical Co., Ltd. entered into a co-promotion agreement for Forxiga in Japan. Under the agreement, Ono is responsible for the distribution and marketing of Forxiga, and has been co-promoting Forxiga with AstraZeneca in Japan.About Heart FailureHeart Failure (HF) is a chronic, long-term condition that worsens over time1. It affects nearly 64 million people globally2 and is associated with substantial morbidity and mortality3. Chronic HF is the leading cause of hospitalisation for those over the age of 65 and represents a significant clinical and economic burden4. There are several types of HF often defined by left ventricular ejection fraction (LVEF), a measurement of the percentage of blood leaving the heart each time it contracts, including: HFrEF (LVEF less than or equal to 40%), HFmrEF (LVEF 41-49%) and HFpEF (LVEF greater than or equal to 50%)5. Approximately half of all HF patients have HFmrEF or HFpEF, with few therapeutic options available5, 6.About DELIVER Trial7,8DELIVER trial was an international, randomised, double-blind, parallel-group, placebo-controlled, event-driven Phase III trial designed to evaluate the efficacy of Forxiga, compared with placebo, in the treatment of heart failure (HF) patients with left ventricular ejection fraction (LVEF) greater than 40%, with or without type 2 diabetes mellitus. Forxiga was given once daily in addition to background therapy (regional standard of care for all comorbidities, including diabetes and hypertension, with the exception of concomitant use of a sodium-glucose cotransporter 2 (SGLT2) inhibitor)7. DELIVER trial is the largest clinical trial to date in HF patients with LVEF above 40%, with 6,263 randomized patients7.The primary composite endpoint was the time to first occurrence of CV death, hospitalization due to HF (hHF) or an urgent HF visit. Key secondary endpoints include the total number of HF events (hHF or urgent HF visit) and CV death, change from baseline in the total symptom score of the KCCQ at eight months, time to the occurrence of CV death and time to the occurrence of death from any cause7.About ForxigaForxiga (dapagliflozin) is a first-in-class, oral, once-daily SGLT2 inhibitor. Research has shown Forxiga's efficacy in preventing and delaying cardiorenal disease, while also protecting the organs - important findings given the underlying links between the heart, kidneys and pancreas. Damage to one of these organs can cause the other organs to fail, contributing to leading causes of death worldwide, including type 2 diabetes (T2D) mellitus, heart failure and chronic kidney disease (CKD).Forxiga is approved in adults and children aged 10 years and above (adults only approved in Japan) for the improvement of glycaemic control in patients with T2D mellitus as an adjunct to diet and exercise. Forxiga is also approved for the treatment of CKD in adults based on the findings of the DAPA-CKD Phase III trial.AstraZeneca in CVRMCardiovascular, Renal and Metabolism (CVRM), part of BioPharmaceuticals, forms one of AstraZeneca's main disease areas and is a key growth driver for the Company. By following the science to understand more clearly the underlying links between the heart, kidneys and pancreas, AstraZeneca is investing in a portfolio of medicines for organ protection and improving outcomes by slowing disease progression, reducing risks and tackling co-morbidities. The Company's ambition is to modify or halt the natural course of CVRM diseases and potentially regenerate organs and restore function, by continuing to deliver transformative science that improves treatment practices and CV health for millions of patients worldwide.AstraZenecaAstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide.About Ono Pharmaceutical Co., Ltd.Ono Pharmaceutical Co., Ltd., headquartered in Osaka, is an R&D-oriented pharmaceutical company committed to creating innovative medicines in specific areas. Ono focuses its research on the oncology, immunology, neurology and specialty research with high medical needs, as priority areas for discovery and development of innovative medicines.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AZN/2023.01.12/ASTRAZENECA : Deutsche Bank gives a Buy rating.txt b/news/AZN/2023.01.12/ASTRAZENECA : Deutsche Bank gives a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..e7742eb929b2a23923fa104656e44cde90cc7147 --- /dev/null +++ b/news/AZN/2023.01.12/ASTRAZENECA : Deutsche Bank gives a Buy rating.txt @@ -0,0 +1 @@ +Deutsche Bank is positive on the stock with a Buy rating. The target price is still set at GBX 13000. \ No newline at end of file diff --git a/news/AZN/2023.01.12/Astrazeneca - Airsupra approved in the US for asthma.txt b/news/AZN/2023.01.12/Astrazeneca - Airsupra approved in the US for asthma.txt new file mode 100644 index 0000000000000000000000000000000000000000..688a5c089763969badf042ff71e7e31925833792 --- /dev/null +++ b/news/AZN/2023.01.12/Astrazeneca - Airsupra approved in the US for asthma.txt @@ -0,0 +1 @@ +Airsupra (albuterol/budesonide), formerly known as PT027, has been approved in the US for the as-needed treatment or prevention of bronchoconstriction and to reduce the risk of exacerbations in people with asthma aged 18 years and older.The approval by the Food and Drug Administration (FDA) was based on results from the MANDALA and DENALI Phase III trials.1,2 In MANDALA, Airsupra significantly reduced the risk of severe exacerbations compared to albuterol in patients with moderate to severe asthma when used as an as-needed rescue medication in response to symptoms.1 Importantly, in the secondary endpoint of mean annualised total systemic corticosteroid exposure, Airsupra demonstrated a significant reduction compared to albuterol at the approved dose of 180mcg albuterol/160mcg budesonide.1 In DENALI, Airsupra significantly improved lung function compared to the individual components albuterol and budesonide in patients with mild to moderate asthma.2Airsupra is a first-in-class, pressurised metered-dose inhaler (pMDI), fixed-dose combination rescue medication containing albuterol, a short-acting beta2-agonist (SABA), and budesonide, an anti-inflammatory inhaled corticosteroid (ICS) in the US. It is being developed by AstraZeneca and Avillion.Bradley E. Chipps, Past President of the American College of Allergy, Asthma & Immunology and Medical Director of Capital Allergy & Respiratory Disease Center in Sacramento, US, said: 'People with asthma are at risk of severe exacerbations regardless of their disease severity or level of control. Current albuterol rescue inhalers alleviate acute symptoms, but do not treat the underlying inflammation in asthma. The approval of Airsupra means that for the first time, adults with asthma in the US have a rescue treatment to manage both their symptoms and the inflammatory nature of their disease.'Mene Pangalos, Executive Vice President, BioPharmaceuticals R&D, AstraZeneca, said: 'With patients experiencing more than 10 million asthma exacerbations each year in the US and uncontrolled asthma expected to cost the US economy billions of dollars in direct medical costs alone over the next 20 years, today's positive decision is good news for those adults with asthma who make up more than 80% of asthma patients in the US. Physicians will be able to offer their patients Airsupra, an important new rescue treatment that reduces the risk of asthma exacerbations.'Asthma is a chronic, inflammatory respiratory disease with variable symptoms that affects as many as 262 million people worldwide.3 In the US over 21 million adults have asthma, representing more than 80% of the total number of people with asthma.4 Adults have 8.5 million exacerbations each year in the US.4 Uncontrolled asthma will cost the US economy an estimated $300 billion (in 2018 dollar values) in the next 20 years in direct medical costs alone.5The safety and tolerability of Airsupra in both trials were consistent with the known profiles of the components,1,2 with the most common adverse events including headache, oral candidiasis, cough and dysphonia.6Results from the MANDALA trial were published in the New England Journal of Medicine in May 2022.1NotesAsthmaAsthma is a chronic, inflammatory respiratory disease with variable symptoms that affects as many as 262 million people worldwide,3 including over 25 million in the US.4Patients with asthma experience recurrent breathlessness and wheezing, which varies over time, and in severity and frequency.7 These patients are at risk of severe exacerbations regardless of their disease severity, adherence to treatment or level of control.8,9There are an estimated 136 million asthma exacerbations globally per year,10 including more than 10 million in the US;4 these are physically threatening and emotionally significant for many patients11 and can be fatal.3,12Inflammation is central to both asthma symptoms8 and exacerbations.13 Many patients experiencing asthma symptoms use a SABA (e.g. albuterol) as a rescue medicine;14-16 however, taking a SABA alone does not address inflammation, leaving patients at risk of severe exacerbations,17 which can result in impaired quality of life,18 hospitalisation19 and frequent oral corticosteroid (OCS) use.19 Treatment of exacerbations with as few as 1-3 short courses of OCS are associated with an increased risk of adverse health conditions including type 2 diabetes, depression/anxiety, renal impairment, cataracts, cardiovascular disease, pneumonia and fracture.20 International recommendations from the Global Initiative for Asthma no longer recommend SABA alone as the preferred rescue therapy.7MANDALA, DENALI and the CREST (Combination REliever STudies) programmeThe CREST clinical trial programme studied the efficacy and safety of PT027 and included the MANDALA,1,21,22 DENALI2,23,24 and TYREE25 Phase III trials.MANDALA1,21,22 was a Phase III, randomised, double-blind, multicentre, parallel-group, event-driven trial evaluating the efficacy and safety of Airsupra compared to albuterol on the time to first severe asthma exacerbation in 3,132 adults, adolescents, and children (aged 4-11 years) with moderate to severe asthma taking ICS alone or in combination with a range of asthma maintenance therapies, including long-acting beta2-agonists (LABA), leukotriene receptor antagonists (LTRA), long-acting muscarinic antagonists (LAMA) or theophylline. The trial comprised a two-to-four-week screening period, at least a 24-week treatment period and a two-week post-treatment follow-up period.Patients were randomly assigned to one of the following three treatment groups in a 1:1:1 ratio: Airsupra 180/160mcg (excluding children aged 4-11 years), albuterol/budesonide 180/80mcg or albuterol 180mcg, taken as an as-needed rescue medicine. Airsupra and the albuterol comparator were delivered in a pMDI using AstraZeneca's Aerosphere delivery technology. The primary efficacy endpoint was the time to first severe asthma exacerbation during the treatment period. Secondary endpoints included severe exacerbation rate (annualised), total systemic corticosteroid exposure (annualised), asthma control and health-related quality of life.Results from the positive MANDALA Phase III trial showed that Airsupra demonstrated a statistically significant reduction in the risk of a severe exacerbation versus albuterol rescue in patients with moderate to severe asthma.1,22 Compared with albuterol rescue, Airsupra at the 180mcg albuterol/160mcg budesonide dose reduced the risk of a severe exacerbation by 27% (p(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AZN/2023.01.13/AstraZeneca asthma drug approved in US for self-administration .txt b/news/AZN/2023.01.13/AstraZeneca asthma drug approved in US for self-administration .txt new file mode 100644 index 0000000000000000000000000000000000000000..06fc768ee92837f1b79327fb4eeebbdc1f1ac198 --- /dev/null +++ b/news/AZN/2023.01.13/AstraZeneca asthma drug approved in US for self-administration .txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC on Friday said Tezspire has been approved for self-administration in the EU in a new pre-filled pen, for severe asthma patients aged 12 years and older.The Cambridge-based pharmaceutical company said Tezspire, whose generic name is tezepelumab, received a positive opinion from the European Medicine Agency’s Committee for Medicinal Products for Human Use for self-administration in a pre-filled, single-use pen."The CHMP opinion can be implemented without the need for a European Commission decision due to the nature of the Type-II label variation," Astra said.The approval was based on results from the Pathfinder clinical trial programme. "The improvements in asthma control and the safety profile of Tezspire observed in the Path-home trial were consistent with previous clinical trials," the company says. Executive Vice President Mene Pangalos of AstraZeneca said: "Tezspire is the first and only biologic approved in Europe for patients with severe asthma with no phenotype or biomarker limitation. With the approval of the Tezspire pre-filled pen, we can give patients in Europe greater flexibility and support physicians in treating a broad population of severe asthma patients."AstraZeneca said it expects a regulatory decision by the US Food & Drug Administration on self-administration and the new pre-filled pen in the first half of 2023.Tezspire is currently approved for the treatment of severe asthma in the US, EU, Japan and other countries.Shares were up 1.7% at 11,642.00 pence each on Friday morning in London. By Xindi Wei, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.13/AstraZeneca signs COVID treatment deal with China's Genertec Meheco.txt b/news/AZN/2023.01.13/AstraZeneca signs COVID treatment deal with China's Genertec Meheco.txt new file mode 100644 index 0000000000000000000000000000000000000000..f2a3800ec371f1805ef489e37a375fb0e26218d5 --- /dev/null +++ b/news/AZN/2023.01.13/AstraZeneca signs COVID treatment deal with China's Genertec Meheco.txt @@ -0,0 +1 @@ +Genertec Meheco, a unit of Shanghai-listed China Meheco Group Co, will be responsible for the import and distribution of Evusheld in mainland China once the drug is approved to enter the Chinese market with conditions or for emergency use. (Reporting by Beijing newsroom; Editing by David Goodman) \ No newline at end of file diff --git a/news/AZN/2023.01.13/CORRECT: AstraZeneca asthma drug okayed in EU for self-administration .txt b/news/AZN/2023.01.13/CORRECT: AstraZeneca asthma drug okayed in EU for self-administration .txt new file mode 100644 index 0000000000000000000000000000000000000000..466708bece5762f1497d35e07156b7f41975d26a --- /dev/null +++ b/news/AZN/2023.01.13/CORRECT: AstraZeneca asthma drug okayed in EU for self-administration .txt @@ -0,0 +1 @@ +(Correcting headline to refer to EU.)(Alliance News) - AstraZeneca PLC on Friday said Tezspire has been approved for self-administration in the EU in a new pre-filled pen, for severe asthma patients aged 12 years and older.The Cambridge-based pharmaceutical company said Tezspire, whose generic name is tezepelumab, received a positive opinion from the European Medicine Agency’s Committee for Medicinal Products for Human Use for self-administration in a pre-filled, single-use pen."The CHMP opinion can be implemented without the need for a European Commission decision due to the nature of the Type-II label variation," Astra said.The approval was based on results from the Pathfinder clinical trial programme. "The improvements in asthma control and the safety profile of Tezspire observed in the Path-home trial were consistent with previous clinical trials," the company says. Executive Vice President Mene Pangalos of AstraZeneca said: "Tezspire is the first and only biologic approved in Europe for patients with severe asthma with no phenotype or biomarker limitation. With the approval of the Tezspire pre-filled pen, we can give patients in Europe greater flexibility and support physicians in treating a broad population of severe asthma patients."AstraZeneca said it expects a regulatory decision by the US Food & Drug Administration on self-administration and the new pre-filled pen in the first half of 2023.Tezspire is currently approved for the treatment of severe asthma in the US, EU, Japan and other countries.Shares were up 1.2% at 11,584.00 pence each on Friday morning in London. By Xindi Wei, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.13/Tezspire approved for self-administration in the EU in a new pre-filled pen.txt b/news/AZN/2023.01.13/Tezspire approved for self-administration in the EU in a new pre-filled pen.txt new file mode 100644 index 0000000000000000000000000000000000000000..4c27645db71cf35a7b2378537b197041d8885b75 --- /dev/null +++ b/news/AZN/2023.01.13/Tezspire approved for self-administration in the EU in a new pre-filled pen.txt @@ -0,0 +1 @@ +New administration option for first and only severe asthma biologic approved in the EU with no phenotype or biomarker limitationsAstraZeneca's Tezspire (tezepelumab) has received a positive opinion from the European Medicine Agency's Committee for Medicinal Products for Human Use (CHMP) for self-administration in a pre-filled, single-use pen for patients aged 12 years and older with severe asthma. The CHMP opinion can be implemented without the need for a European Commission decision due to the nature of the Type-II label variation.The approval for self-administration was based on results from the PATHFINDER clinical trial programme, which included results from the PATH-BRIDGE Phase I trial and the PATH-HOME Phase III trial.1,2 The majority (92%) of healthcare providers, patients and caregivers were able to successfully administer Tezspire both in the clinic and at home throughout the PATH-HOME trial.2 The improvements in asthma control and the safety profile of Tezspire observed in the PATH-HOME trial were consistent with previous clinical trials.2 Tezspire is the only biologic approved for severe asthma with no phenotype (e.g. eosinophilic or allergic) or biomarker limitation within its approved label.3Professor Ian Pavord, Professor of Respiratory Medicine at the University of Oxford and Honorary Consultant Physician at the Oxford University Hospitals, said: "Severe asthma continues to have a debilitating impact for people living with the disease. I believe the approval of the Tezspire pre-filled pen will be welcome news for physicians and patients in Europe as it offers increased choice and greater flexibility when administering this important medicine."Mene Pangalos, Executive Vice President, BioPharmaceuticals R&D, AstraZeneca, said: "Tezspire is the first and only biologic approved in Europe for patients with severe asthma with no phenotype or biomarker limitation. With the approval of the Tezspire pre-filled pen, we can give patients in Europe greater flexibility and support physicians in treating a broad population of severe asthma patients."AstraZeneca anticipates a regulatory decision by the US Food and Drug Administration (FDA) on self-administration and the new pre-filled pen in the first half of 2023. Tezspire is currently approved for the treatment of severe asthma in the US, EU, Japan and other countries.4-6NotesTezspire pre-filledpenTezspire will be available as a fixed-dose 210mg subcutaneous injection via a pre-filled, single-use auto-injector (the Tezspire pre-filled pen), in addition to the pre-filled, single-use syringe (Tezspire pre-filled syringe). Both are administered every four weeks.The Tezspire pre-filledpenenables patients and caregivers to self-administer the medicine at home or in clinic via a simple process. The device is fitted with a safety guard and viewing window and has audible clicks at the start and end of the injection to guide patients.Clinical trialsPATH-HOME was a Phase III multi-centre, open-label, parallel-group trial designed to assess patient, caregiver and healthcare provider-reported functionality and performance of a single-use, pre-filled syringe (PFS) or auto-injector (AI) with a fixed 210mg dose of Tezspire administered subcutaneously every four weeksin a clinic and in an at-home setting in 216 patients aged 12 years and older with severe asthma.2The majority (92%) of healthcare providers, patients and caregivers were able to successfully administer the Tezspire pre-filled pen both in the clinic and at home throughout the trial.2 At-home administration of the Tezspire pre-filled pen at weeks 12 and 16 was successful in 97% of the patients or caregivers (102/105).2 The trial also demonstrated for the first time that adolescents can successfully administer Tezspire using the two devices.2 The very low proportion of device malfunctions (0.9% of PFS and 0.8% of AIs) provides support that the instructions for use provided to healthcare providers, patients and caregivers is adequate for successful subcutaneous administration of Tezspire both in the clinic and at home.2PATH-BRIDGE was a single-centre, randomised, open-label, parallel-group Phase I trial in healthy people to compare the pharmacokinetic (PK) exposure following a single 210mg dose of Tezspire by using a vial-and-syringe (V-S), PFS or pre-filled AI device.1 Tezspire PK exposure was comparable following subcutaneous administration via V-S, PFS or AI.1 In addition, injection site-pain was low in severity and injection-site reactions were uncommon in all device groups.1In addition to PATH-BRIDGE and PATH-HOME, the PATHFINDER clinical trial programme included the pivotal NAVIGATOR Phase III trial in which Tezspire demonstrated superiority across every primary and key secondary endpoint in patients with severe asthma, compared to placebo, when added to standard therapy.7NAVIGATOR was the first Phase III trial to show benefit in severe asthma irrespective of eosinophils by targeting thymic stromal lymphopoietin (TSLP).7 These results support the FDA Breakthrough Therapy Designation granted to Tezspire in September 2018 for patients with severe asthma, without an eosinophilic phenotype. In July 2021, Tezspire was the first and only biologic to be granted Priority Review in the US for the treatment of asthma by the FDA.TezspireTezspire (tezepelumab) is being developed by AstraZeneca in collaboration with Amgen as a first-in-class human monoclonal antibody that inhibits the action of TSLP, a key epithelial cytokine that sits at the top of multiple inflammatory cascades and is critical in the initiation and persistence of allergic, eosinophilic and other types of airway inflammation associated with severe asthma, including airway hyperresponsiveness.8,9 TSLP is released in response to multiple triggers associated with asthma exacerbations, including allergens, viruses and other airborne particles.8,9 Expression of TSLP is increased in the airways of patients with asthma and has been correlated with disease severity.8,9 Blocking TSLP may prevent the release of pro-inflammatory cytokines by immune cells, resulting in the prevention of asthma exacerbations and improved asthma control.7,8,10 Tezspire acts at the top of the inflammation cascade and has the potential to help address a broad population of severe asthma patients irrespective of biomarker levels.7,8Tezspire is approved in the US, EU, Japan and other countries for the treatment of severe asthma.4-6 Tezspire is also in development for other potential indications including chronic obstructive pulmonary disease (COPD), chronic rhinosinusitis with nasal polyps, chronic spontaneous urticaria and eosinophilic esophagitis (EoE). In October 2021, tezepelumab was granted Orphan Drug Designation by the FDA for the treatment of EoE.Amgen collaborationIn 2020, Amgen and AstraZeneca updated a 2012 collaboration agreement for Tezspire. Both companies will continue to share costs and profits equally after payment by AstraZeneca of a mid single-digit inventor royalty to Amgen. AstraZeneca continues to lead development and Amgen continues to lead manufacturing. All aspects of the collaboration are under the oversight of joint governing bodies. Under the amended agreement, Amgen and AstraZeneca will jointly commercialise Tezspire in North America. Amgen will record product sales in the US, with AZ recording its share of US profits as Collaboration Revenue. Outside of the US, AstraZeneca will record product sales, with Amgen recording profit share as Other/Collaboration revenue.AstraZeneca in Respiratory & ImmunologyRespiratory & Immunology, part of BioPharmaceuticals, is one of AstraZeneca's main disease areas and is a key growth driver for the Company.AstraZeneca is an established leader in respiratory care with a 50-year heritage. The Company aims to transform the treatment of asthma and COPD by focusing on earlier biology-led treatment, eliminating preventable asthma attacks, and removing COPD as a top-three leading cause of death. The Company's early respiratory research is focused on emerging science involving immune mechanisms, lung damage and abnormal cell-repair processes in disease and neuronal dysfunction.With common pathways and underlying disease drivers across respiratory and immunology, AstraZeneca is following the science from chronic lung diseases to immunology-driven disease areas. The Company's growing presence in immunology is focused on five mid- to late-stage franchises with multi-disease potential, in areas including rheumatology (including systemic lupus erythematosus), dermatology, gastroenterology, and systemic eosinophilic-driven diseases. AstraZeneca's ambition in Respiratory & Immunology is to achieve disease modification and durable remission for millions of patients worldwide.AstraZeneca AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visitastrazeneca.com and follow the Company on Twitter @AstraZeneca.ContactsFor details on how to contact the Investor Relations Team, please click here. For Media contacts, click here.References1. Zheng Y, et al. Tezepelumab Pharmacokinetics, Safety, and Tolerability After Administration via Vial-and-syringe, Accessorized Prefilled Syringe, or Autoinjector: A Randomized Trial in Healthy Volunteers. Clin Thera. 2020;43(1):142-155.2. Alpizar S, et al. Functionality and Performance of an Accessorized Pre-Filled Syringe and an Autoinjector for At-Home Administration of Tezepelumab in Patients with Severe, Uncontrolled Asthma. J. Asthma Allergy. 2021;14:381-392.3. European Medicines Agency. Tezspire (tezepelumab) Summary of Product Characteristics (SmPC). Available at: https://www.ema.europa.eu/en/documents/product-information/tezspire-epar-product-information_en.pdf [Last accessed: January 2023].4. AstraZeneca plc. Tezspire (tezepelumab) approved in the US for severe asthma. Available at: https://www.astrazeneca.com/media-centre/press-releases/2021/Tezspire-tezepelumab-approved-in-the-us-for-severe-asthma.html. [Last accessed: January 2023].5. AstraZeneca plc. Tezspire approved in the EU for the treatment of severe asthma. 2022. Available at: https://www.astrazeneca.com/content/astraz/media-centre/press-releases/2022/tezspire-approved-in-the-eu-for-the-treatment-of-severe-asthma.html. [Last accessed: January 2023].6. AstraZeneca plc. Tezspire approved in Japan for the treatment of severe asthma. Available at: https://www.astrazeneca.com/media-centre/press-releases/2022/tezspire-approved-in-japan-for-severe-asthma.html. [Last accessed: January 2023].7. Menzies-Gow A, et al. Tezepelumab in Adults and Adolescents with Severe, Uncontrolled Asthma. N Engl J Med. 2021;384:1800-1809. DOI: 10.1056/NEJMoa2034975.8. Corren J, et al. Tezepelumab in adults with uncontrolled asthma [supplementary appendix; updated April 18, 2019]. N Engl J Med. 2017;377:936-946.9. Varricchi G, et al. Thymic Stromal Lymphopoietin Isoforms, Inflammatory Disorders, and Cancer. Front Immunol. 2018;9:1595.10. Li Y, et al. Elevated Expression of IL-33 and TSLP in the Airways of Human Asthmatics In Vivo: A Potential Biomarker of Severe Refractory Disease. J Immunol. 2018;200:2253-2262.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.01.16/Acquisition of Neogene Therapeutics completed.txt b/news/AZN/2023.01.16/Acquisition of Neogene Therapeutics completed.txt new file mode 100644 index 0000000000000000000000000000000000000000..5513ce83ee50171a45b6d75789d4e7fd83d379fe --- /dev/null +++ b/news/AZN/2023.01.16/Acquisition of Neogene Therapeutics completed.txt @@ -0,0 +1 @@ +AstraZeneca has completed the acquisition of Neogene Therapeutics Inc. (Neogene), a global clinical-stage biotechnology company pioneering the discovery, development and manufacturing of next-generation T-cell receptor therapies (TCR-Ts).Neogene will operate as a wholly owned subsidiary of AstraZeneca, with operations in Amsterdam, the Netherlands and California, US.Financial considerationsAstraZeneca has acquired all outstanding equity of Neogene in exchange for an initial payment of $200m. Under the terms of the agreement, AstraZeneca will pay up to $120m in additional contingent milestone-based and non-contingent consideration.NotesNeogene TherapeuticsNeogene Therapeutics, Inc. is a global biotechnology company focused on discovering, developing and manufacturing next-generation, transformative TCR therapies targeting neoantigens in solid cancers. Neogene is advancing a pipeline of fully individualized TCR therapies as well as TCR therapies targeting shared neoantigens, including mutated KRAS (mKRAS) and mutated TP53 (mTP53).Neogene was founded by Carsten Linnemann, PhD, Chief Executive Officer of Neogene, and Ton Schumacher, PhD, Principal Investigator at the Netherlands Cancer Institute, Oncode Institute in partnership with Two River, and cell therapy industry veteran Arie Belldegrun, MD, founder of Kite Pharma, Inc. and Co-Founder and Executive Chairman of Allogene Therapeutics, Inc. as well as key investments from Vida Ventures, TPG, EcoR1 Capital, Jeito Capital, Syncona, Polaris Partners and Pontifax.Neogene has EU headquarters in Amsterdam and U.S. headquarters in Santa Monica. Its team of over 120 employees has deep gene and cell therapy expertise and a shared mission to bring next-generation transformative TCR therapies to patients with solid cancers worldwide. Please visit www.neogene.com and follow Neogene on LinkedIn.AstraZeneca in oncology cell therapyAstraZeneca is building a cell therapy portfolio that aims to empower and equip the immune system's T cells to more effectively fight cancer. The Company is building on the work already done in blood cancers where chimeric antigen receptor T-cell (CAR-T) therapies, a type of living medicine created by isolating and modifying a patient's T cells to target their specific tumour, are being used to treat some haematological malignancies. Their research teams are exploring new ways to target and arm CAR-Ts to increase their effectiveness in solid tumours by overcoming the immune-suppressive tumour microenvironment. Looking to the future, AstraZeneca is working to engineer next-generation cell therapies, where physicians could potentially select from a library of off-the-shelf patient-ready therapies already developed from the cells of healthy donors.Ultimately, by utilising innovative strategies to improve the precision and effectiveness of cell therapies, the Company's goal is to deliver new medicines to help transform the lives of patients living with a range of cancers.AstraZeneca in oncologyAstraZeneca is leading a revolution in oncology with the ambition to provide cures for cancer in every form, following the science to understand cancer and all its complexities to discover, develop and deliver life-changing medicines to patients.The Company's focus is on some of the most challenging cancers. It is through persistent innovation that AstraZeneca has built one of the most diverse portfolios and pipelines in the industry, with the potential to catalyse changes in the practice of medicine and transform the patient experience.AstraZeneca has the vision to redefine cancer care and, one day, eliminate cancer as a cause of death.AstraZenecaAstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca.Adrian KempCompany SecretaryAstraZeneca PLC.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.01.16/AstraZeneca completes acquisition of Neogene Therapeutics.txt b/news/AZN/2023.01.16/AstraZeneca completes acquisition of Neogene Therapeutics.txt new file mode 100644 index 0000000000000000000000000000000000000000..738ee299b6be0df3434ae8fe3c27d12ae63779b3 --- /dev/null +++ b/news/AZN/2023.01.16/AstraZeneca completes acquisition of Neogene Therapeutics.txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC on Monday said it completed its acquisition of Neogene Therapeutics Inc, a clinical-stage biotechnology company focused on the discovery, development and manufacturing of T-cell receptor therapies. Neogene Therapeutics now will operate as a wholly-owned subsidiary of the Cambridge-based pharmaceutical company, with operations in both Amsterdam and Santa Monica, California. AstraZeneca bought Neogene Therapeutics for an initial payment of USD200 million in November last year. It will pay an additional consideration of up to USD120 million if milestones are met.TCR-Ts are emerging as a promising therapeutic modality in cancer treatment.Last Friday, Astra said its Tezspire has been approved for self-administration in the EU in a new pre-filled pen, for severe asthma patients aged 12 years and older.Shares were up 0.4% at 11,702.00 pence each on Monday morning in London. By Xindi Wei, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.16/FTSE 100 seen flat; Just Eat and Sainsbury's partner.txt b/news/AZN/2023.01.16/FTSE 100 seen flat; Just Eat and Sainsbury's partner.txt new file mode 100644 index 0000000000000000000000000000000000000000..b08b414faed348617d9f408c80b87ed0c443af0a --- /dev/null +++ b/news/AZN/2023.01.16/FTSE 100 seen flat; Just Eat and Sainsbury's partner.txt @@ -0,0 +1 @@ +(Alliance News) - With US financial markets closed for a public holiday on Monday and after better-than-expected data for the UK economy on Friday, stocks in London were set to start the week slightly higher. UK gross domestic product grew by 0.1% month-on-month in November, slowing from October's unrevised growth of 0.5%. The economy defied expectations which anticipated it to shrink by 0.2% in November, according to consensus cited by FXStreet.GDP was helped by the start of the football World Cup, which boosted consumer-facing sectors, the Office for National Statistics explained.In further signs of emerging stability for the UK economy, the average asking price for a house in the UK rose in January, according to the data from Rightmove on Monday. The average price of a property coming to the market for sale rose to GBP362,438 in January, up 0.9% from GBP359,137 in December. Rightmove said this was the biggest increase at this time of year since 2020."After the market's uncertain final few months of 2022, this familiar seasonality is a tentative sign of stability...It's still early days, but this is a more encouraging start to the year than many anticipated," Rightmove said.In UK company news, ITM Power issued a warning on its full-year results, while AstraZeneca completed its acquisition of clinical-stage biotechnology company Neogene Therapeutics.Here is what you need to know ahead of the London market open: ----------MARKETS----------FTSE 100: called flat at 7,844.00----------Hang Seng: down 0.2% at 21,706.14Nikkei 225: closed down 1.1% at 25,822.32S&P/ASX 200: closed up 0.8% at 7,388.20----------DJIA: closed up 112.64 points, or 0.3%, at 34,302.61S&P 500: closed up 15.92 points, or 0.4%, at 3,999.09Nasdaq Composite: closed up 78.05 points, or 0.7%, at 4,000.70----------EUR: higher at USD1.0835 (USD1.0820)GBP: higher at USD1.2230 (USD1.2209)USD: higher at JPY128.10 (JPY127.85)Gold: higher at USD1,916.75 per ounce (USD1,911.40)(Brent): lower at USD84.63 a barrel (USD84.80)(changes since previous London equities close)----------ECONOMICS----------Monday's key economic events still to come: US Martin Luther King Day holiday. Financial markets closed.----------The UK foreign secretary will resume talks with his European Commission counterpart as speculation mounts that London and Brussels could be nearing a breakthrough on the Northern Ireland protocol. James Cleverly will speak to Maros Sefcovic, the commission's vice-president, on Monday over a proposal to iron out issues with post-Brexit trade arrangements affecting Northern Ireland and Great Britain. Political expectation about the prospect of an accord has grown, with suggestions that cross-Channel relations have improved since Rishi Sunak became prime minister. The announcement last week that a deal had been reached on sharing real-time data on goods travelling from Great Britain to Northern Ireland was seen as a step towards an overall resolution.----------BROKER RATING CHANGES----------Investec cuts HSBC to 'hold'----------Jefferies cuts abrdn to 'hold' ('buy') - price target 215 (210) pence----------Bofa cuts Burberry to 'underperform' ('neutral') - price target 2,000 pence----------COMPANIES - FTSE 100----------Pharmaceutical firm AstraZeneca completed its acquisition of Neogene Therapeutics, a clinical-stage biotechnology company focused on the discovery, development and manufacturing of T-cell receptor therapies. Neogene Therapeutics now will operate as a wholly-owned subsidiary of Astra, with operations in both Amsterdam and Santa Monica, California. AstraZeneca bought Neogene Therapeutics for an initial payment of USD200 million. It will pay an additional consideration of up to USD120 million if milestones are met.----------Food delivery app Just Eat announced a partnership with supermarket chain J Sainsbury for grocery delivery in the UK. The partnership will launch with more than 175 Sainsbury's stores by the end of February. As a result of the contact, Just Eat customer will have access to thousands of products, including Sainsbury's own brand products, for delivery, it says. ----------COMPANIES - FTSE 250----------Asset manager Ashmore said that in the final quarter of 2022 its assets under management increased by USD1.2 billion to an estimated USD57.2 billion. At September 30, Ashmore had USD56.0 billion in AuM. Ashmore said the increase was due to a positive investment performance of USD3.8 billion, offset by net outflows of USD2.6 billion. "Reflecting a modest easing of global macro concerns, the Emerging Markets delivered strong returns over the quarter with the main fixed income and equity benchmark indices rising by between 5% and 10%. Ashmore's active investment processes delivered outperformance in the period across a broad range of fixed income and equity strategies, reflecting the typical profile of alpha creation as markets begin to recover from oversold levels," Ashmore explained.----------Primary care property investor Assura said it had a portfolio of 607 properties with an annualised rent roll of GBP141.6 million as of the end of 2022. It is currently on site with 11 developments which have a total cost of GBP121 million. However, Assura noted its net initial yield as of December 31 was 4.86%. It explained this represented a 7% reduction in its portfolio value which, at the end of 2022, stood at GBP2.7 billion.----------QinetiQ announced it has won a GBP80 million contract with the UK Ministry of Defence. The contract will provide specialist mission data and electronic warfare skills solutions, alongside training and IT support, the firm explained. QinetiQ will work with the UK MOD for a 10-year period. Chief Executive James Willis said: "The contract demonstrates how the MoD works closely with industry to build the skills of the future and introduce innovative approaches to enhance mission capability." QinetiQ is an engineering firm operating primarily in the defence and security markets.----------OTHER COMPANIES----------ITM Power said it has become clear that the outcome for the year ending April 30 will be "materially different" from current guidance, with lower revenue and a higher earnings before interest, taxation, depreciation and amortisation loss. The hydrogen-generating electrolyser system manufacturer said this conclusion came following a review of its operations after the appoint of Dennis Schulz as chief executive. The main factors hurting its outcome for the full-year are losses on customer contracts, legacy commitments for earlier product generations causing on-site support costs, warranty provisions, and inventory write-downs originating from iterations of product designs during manufacturing. ITM Power outlined a 12-month priorities plan, which will be presented in full on January 31, which aims to make ITM Power a "more focused" company. It covers three main areas: its core product portfolio, plans for future testing and automation and its approach to capital allocation and costs. ----------NewMed Energy said it continues to promote its proposed merger with Capricorn Energy on the existing terms, saying this is the most compelling option for all stakeholders. However, NewMed also says it continues to consider alternative strategic options to the merger with Capricorn, which is facing pushback on the deal from shareholder Palliser Capital Master Fund. ----------By Heather Rydings, Alliance News senior economics reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.16/JUVENESCENCE Appoints Dr Richard Marshall CBE as CEO.txt b/news/AZN/2023.01.16/JUVENESCENCE Appoints Dr Richard Marshall CBE as CEO.txt new file mode 100644 index 0000000000000000000000000000000000000000..79017cae7b3c5be0ef47d00279d1d5f5de1b4486 --- /dev/null +++ b/news/AZN/2023.01.16/JUVENESCENCE Appoints Dr Richard Marshall CBE as CEO.txt @@ -0,0 +1 @@ +RAMSEY, Isle of Man - Juvenescence has named Dr Richard Marshall CBE as its new CEO, effective. Dr Marshall succeeds co-founder Dr Gregory Bailey, who will remain on the company's board as Executive Chairman.Dr Marshall brings over twenty years of business leadership to the company, with fifteen years at GSK culminating in his position as Vice President, Head of the Fibrosis & Lung Injury Discovery Performance Unit (DPU). Most recently, Dr Marshall was Senior Vice President, Global Development Head, Respiratory & Immunology of AstraZeneca. Dr Marshall was awarded a CBE in the 2021 Queen's Honours List for his contribution to UK science and COVID-19.'I am delighted that Dr Richard Marshall CBE, the former Senior Vice-President, Global Head of Development, Respiratory & Immunology at AstraZeneca, has agreed to lead Juvenescence as CEO. Throughout his career, Richard has been the architect of numerous transformative R&D strategies to drive innovation and deliver rapid growth, with a track record of collegial success, building high performing teams and developing novel therapies,' outgoing CEO Dr Gregory Bailey said. 'Richard is a results-oriented leader who believes that in a post-COVID-19 world facing the impending crisis of an inverted demographic pyramid coupled with undercapitalized pension funds and ever-increasing healthcare costs, proactive, decentralized solutions are desperately needed. Juvenescence is a critical player in the mega-trends now driving towards the healthier lifestyles and digital health strategies needed to confront these issues. I am confident that with this appointment, we have a world class team with the experience and skillset to position Juvenescence as one of the premier biotech and pharmaceutical companies focused on modifying aging through prevention.'Dr Richard Marshall CBE said, 'I am thrilled to be joining Juvenescence at such a pivotal point in the company's history. They are at a real inflection point, with an incredible opportunity to build on Juvenescence's trusted brand and the Founders' 30-year history of developing drugs to bring innovative approaches to modify and prevent the impact of aging to the market. With its broad portfolio and depth of experience, Juvenescence is building a unique ecosystem of key partnerships and acquiring the critical capabilities needed for success in this rapidly evolving field. I look forward to working with the team, our partners, and shareholders to capitalize on this incredible opportunity.'About JuvenescenceJuvenescence is a life sciences company developing therapies to modify aging and increase healthy human lifespan. It was founded by Jim Mellon, Dr Greg Bailey and Dr Declan Doogan. The Juvenescence team consists of highly experienced drug developers, entrepreneurs, marketers, and investors with a significant history of success in pharmaceutical drug development, synthetic biology, and tissue and cellular engineering.Juvenescence has a broad portfolio of products in development and is driving innovation, with a focus on discovering and developing these therapies to modify the aging process, through prevention and by regenerating damage, to support healthy aging and increase health span. The company is committed to inspiring and equipping the world to, not just reimagine what it means to age, but to help people Reimagine A Lifetime. For more information see: www.JuvLabs.comContact:E: juvenescenceir@juvlabs.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AZN/2023.01.17/Astrazeneca - Acquisition of Neogene Therapeutics completed.txt b/news/AZN/2023.01.17/Astrazeneca - Acquisition of Neogene Therapeutics completed.txt new file mode 100644 index 0000000000000000000000000000000000000000..2b082cb62186c5f96cc98611428edee89056b706 --- /dev/null +++ b/news/AZN/2023.01.17/Astrazeneca - Acquisition of Neogene Therapeutics completed.txt @@ -0,0 +1 @@ +AstraZeneca has completed the acquisition of Neogene Therapeutics Inc. (Neogene), a global clinical-stage biotechnology company pioneering the discovery, development and manufacturing of next-generation T-cell receptor therapies (TCR-Ts).Neogene will operate as a wholly owned subsidiary of AstraZeneca, with operations in Amsterdam, the Netherlands and California, US.Financial considerationsAstraZeneca has acquired all outstanding equity of Neogene in exchange for an initial payment of $200m. Under the terms of the agreement, AstraZeneca will pay up to $120m in additional contingent milestone-based and non-contingent consideration.NotesNeogene TherapeuticsNeogene Therapeutics, Inc. is a global biotechnology company focused on discovering, developing and manufacturing next-generation, transformative TCR therapies targeting neoantigens in solid cancers. Neogene is advancing a pipeline of fully individualized TCR therapies as well as TCR therapies targeting shared neoantigens, including mutated KRAS (mKRAS) and mutated TP53 (mTP53).Neogene was founded by Carsten Linnemann, PhD, Chief Executive Officer of Neogene, and Ton Schumacher, PhD, Principal Investigator at the Netherlands Cancer Institute, Oncode Institute in partnership with Two River, and cell therapy industry veteran Arie Belldegrun, MD, founder of Kite Pharma, Inc. and Co-Founder and Executive Chairman of Allogene Therapeutics, Inc. as well as key investments from Vida Ventures, TPG, EcoR1 Capital, Jeito Capital, Syncona, Polaris Partners and Pontifax.Neogene has EU headquarters in Amsterdam and U.S. headquarters in Santa Monica. Its team of over 120 employees has deep gene and cell therapy expertise and a shared mission to bring next-generation transformative TCR therapies to patients with solid cancers worldwide.AstraZeneca in oncology cell therapyAstraZeneca is building a cell therapy portfolio that aims to empower and equip the immune system's T cells to more effectively fight cancer. The Company is building on the work already done in blood cancers where chimeric antigen receptor T-cell (CAR-T) therapies, a type of living medicine created by isolating and modifying a patient's T cells to target their specific tumour, are being used to treat some haematological malignancies. Their research teams are exploring new ways to target and arm CAR-Ts to increase their effectiveness in solid tumours by overcoming the immune-suppressive tumour microenvironment. Looking to the future, AstraZeneca is working to engineer next-generation cell therapies, where physicians could potentially select from a library of off-the-shelf patient-ready therapies already developed from the cells of healthy donors.Ultimately, by utilising innovative strategies to improve the precision and effectiveness of cell therapies, the Company's goal is to deliver new medicines to help transform the lives of patients living with a range of cancers.AstraZeneca in oncologyAstraZeneca is leading a revolution in oncology with the ambition to provide cures for cancer in every form, following the science to understand cancer and all its complexities to discover, develop and deliver life-changing medicines to patients.The Company's focus is on some of the most challenging cancers. It is through persistent innovation that AstraZeneca has built one of the most diverse portfolios and pipelines in the industry, with the potential to catalyse changes in the practice of medicine and transform the patient experience.AstraZeneca has the vision to redefine cancer care and, one day, eliminate cancer as a cause of death.AstraZenecaAstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide.Contact:Angela FiorinTel: +44 (0)1223 344 800(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AZN/2023.01.17/FTSE 100 snaps four-day winning streak as Britain's Ocado slumps.txt b/news/AZN/2023.01.17/FTSE 100 snaps four-day winning streak as Britain's Ocado slumps.txt new file mode 100644 index 0000000000000000000000000000000000000000..7f4900eacb75bf40957b8690ca77d6531f79681f --- /dev/null +++ b/news/AZN/2023.01.17/FTSE 100 snaps four-day winning streak as Britain's Ocado slumps.txt @@ -0,0 +1,31 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window)*FTSE 100 down 0.1%, FTSE 250 off 0.7%*Wage growth rises unexpectedly*Ocado drops on profit warningJan 17 (Reuters) - UK's blue-chip index closed lower on +Tuesday, ending a four-day winning streak after weak economic +data from China raised concerns about global growth, while +shares of Ocado Group slumped after disappointing results.The FTSE 100 dipped 0.1% to 7,851.0, hovering below +its record high of 7,903.5 hit in May 2018, while the +domestically-focused FTSE 250 shed 0.7%.Ocado Group tumbled 9.3% after online supermarket +Ocado Retail warned it would not return to profit until the +second half of its financial year.Drugmaker AstraZeneca dropped 0.7%, while consumer +company Unilever fell 1.5% after Bernstein downgraded +the stock to "underperform"."This looks like a temporary interruption to the index’s +victorious progress however – the trading statement season has +gone well so far for UK firms, providing a foundation for +further gains in the near-term," said Chris Beauchamp, chief +market analyst at online trading platform IG.Data showed pay growth in Britain - which is being closely +watched by the Bank of England as it gauges how much higher to +raise interest rates - gained pace in the three months to +November, official data showed.Asia-focused bank HSBC and insurer Prudential +slipped 0.8% and 0.4%, respectively, after data showed +China's economic growth in 2022 slumped to one of its weakest in +nearly half a century."Despite our less optimistic view on earnings we think that +lower energy costs, the reopening of China and lower rates +volatility will be supportive for equity valuations," said +Maximilian Uleer, senior strategist at Deutsche Bank Research."We are positive for equity markets in 2023 and have a +year-end target of 8,200 for the FTSE 100."The benchmark outperformed major global stock indexes last +year, riding a surge in commodity prices. The midcaps, however, +fell the most since the global financial crisis, hit by a severe +cost-of-living crisis and weak economic growth. +(Reporting by Johann M Cherian and Shashwat Chauhan in +Bengaluru; Editing by Saumyadeb Chakrabarty, Shailesh Kuber and +Tomasz Janowski) \ No newline at end of file diff --git a/news/AZN/2023.01.17/Moderna data puts the spotlight on RSV vaccines under development.txt b/news/AZN/2023.01.17/Moderna data puts the spotlight on RSV vaccines under development.txt new file mode 100644 index 0000000000000000000000000000000000000000..fee588bab37df4be0201f10e50a6fa15aa0e66c3 --- /dev/null +++ b/news/AZN/2023.01.17/Moderna data puts the spotlight on RSV vaccines under development.txt @@ -0,0 +1,37 @@ +Jan 18 (Reuters) - Moderna Inc said on Tuesday +its respiratory syncytial virus (RSV) vaccine was highly +effective in preventing at least two symptoms of infections in +older adults in a late-stage trial, as drugmakers race to +develop a shot against the virus.There is only one drug in the United States for RSV, and +rivals Pfizer Inc and GSK Plc expect a decision +in May 2023 for their experimental RSV shots for adults.RSV is a common respiratory virus that usually causes mild, +cold-like symptoms but can also lead to serious illness and +hospitalization.Following is a list of companies developing drugs and +vaccines for the virus:MODERNAModerna Inc's experimental messenger RNA vaccine for RSV was +83.7% effective in a late-stage trial at preventing at least two +symptoms, such as cough and fever, in adults aged 60 and older.The company plans to submit the vaccine, mRNA-1345, for +approval consideration globally in the first half of 2023.PFIZERThe company is developing an RSV shot for older adults as +well as for infants when given to expectant mothers. The U.S. +Food and Drug Administration is set to decide by May this year +for adults RSV shot.In November last year, Pfizer Inc reported that its +RSV vaccine was 81.8% effective in a late-stage study in +preventing severe infections in infants when given to expectant +mothers.The vaccine in August was shown to be 66.7% effective in a +different trial among participants aged 60 and above with two or +more symptoms.GSKGSK Plc's vaccine was 82.6% effective against RSV +infection in a late-stage study involving adults aged 60 and +over, data showed in October last year.U.S. and Europe authorities are yet to approve the vaccine.SANOFI AND ASTRAZENECAIn November last year, Sanofi SA and AstraZeneca +Plc gained the European Commission's marketing +authorization for their antibody treatment nirsevimab for +preventing disease caused by RSV in infants.Nirsevimab in March last year had showed an efficacy of +74.5% against some types of lower respiratory tract infections +compared with a placebo in infants in a late-stage study.It received a breakthrough therapy designation in the United +States and is under review by the FDA.JOHNSON & JOHNSONJohnson & Johnson began a late-stage study of its +RSV vaccine in 2021 for adults aged 60 years and older.MERCKMerck & Co Inc is currently conducting a late-stage +study testing its experimental antibody drug clesrovimab to +prevent RSV infections in infants and children. It expects to +complete the trial in 2024.BAVARIAN NORDICDenmark-based Bavarian Nordic in April last year +began a late-stage trial for its RSV vaccine in volunteers aged +60 years and older. Study results are expected by mid-2023. +(Reporting by Raghav Mahobe and Nandhini Srinivasan in +Bengaluru; Editing by Devika Syamnath and Sriraj Kalluvila) \ No newline at end of file diff --git a/news/AZN/2023.01.18/ASTRAZENECA : Berenberg reiterates its Buy rating.txt b/news/AZN/2023.01.18/ASTRAZENECA : Berenberg reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..a74a8e4c42ec8a80b7f9340165897c6b8ddf3ad6 --- /dev/null +++ b/news/AZN/2023.01.18/ASTRAZENECA : Berenberg reiterates its Buy rating.txt @@ -0,0 +1 @@ +Already positive, the research from Berenberg and its analyst Luisa Hector still consider the stock as a Buy opportunity. The target price has been raised from GBX 11800 to GBX 12600. \ No newline at end of file diff --git a/news/AZN/2023.01.18/Analyst recommendations: Adobe, AstraZeneca, Morgan Stanley, Ora...txt b/news/AZN/2023.01.18/Analyst recommendations: Adobe, AstraZeneca, Morgan Stanley, Ora...txt new file mode 100644 index 0000000000000000000000000000000000000000..178ac0a84be706a0f196d4e566cb56abc38a5114 --- /dev/null +++ b/news/AZN/2023.01.18/Analyst recommendations: Adobe, AstraZeneca, Morgan Stanley, Ora...txt @@ -0,0 +1,18 @@ + +  + +Adobe: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $350. +AstraZeneca: Berenberg remains Buy with a price target raised from GBp 118 to GBp 126. +Magellan Midstream: Barclays upgrades to overweight from equal-weight. PT up 12% to $59. +Monarch Casino: Macquarie downgrades to neutral from outperform. PT up 2.2% to $81. +Morgan Stanley: Citi downgrades to neutral from buy. PT up 3% to $100. +Oracle:  D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $85. +Salesforce: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $150. +Snowflake: Scotiabank initiated coverage with a recommendation of sector perform. PT set to $125. +Unilever: Jefferies remains Buy with a price target raised from GBp 4500 to GBp 4850. +Vertex Pharmaceuticals: Canaccord Genuity reinstated coverage with a recommendation of hold. PT set to $311, a 0.3% decrease from last price. +Whitbread: Oddo BHF upgrades from Outperform to Neutral with a target of GBp 3500. +Williams Co: Barclays downgrades to equal-weight from overweight. PT up 13% to $37. +Willis Towers: Keefe, Bruyette & Woods upgrades to outperform from market perform. PT jumps 20% to $303. +UGI: Barclays cut its recommendation to underweight from equal-weight. PT down 3.7% to $39. + diff --git a/news/AZN/2023.01.18/Bank of America and Oddo BHF cut Whitbread.txt b/news/AZN/2023.01.18/Bank of America and Oddo BHF cut Whitbread.txt new file mode 100644 index 0000000000000000000000000000000000000000..188d3790e2200f612f76b0da046edf9cc40bf13b --- /dev/null +++ b/news/AZN/2023.01.18/Bank of America and Oddo BHF cut Whitbread.txt @@ -0,0 +1 @@ +(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:----------FTSE 100----------Bank of America cuts Whitbread to 'underperform' (buy) - price target 3,100 (3,300) pence----------Deutsche Bank raises Whitbread target to 3,530 (3,100) pence - 'buy'----------Oddo BHF cuts Whitbread to 'neutral' (outperform)----------Bank of America raises InterContinental Hotels to 'buy' (neutral) - price target 6,300 (5,500) pence----------Deutsche Bank raises InterContinental Hotels price target to 5,730 (5,520) pence - 'buy'----------Bank of America raises Compass price target to 2,050 (2,000) pence - 'neutral'----------Deutsche Bank raises Compass target to 2,000 (1,990) pence - 'hold'----------Redburn cuts Shell to 'neutral'----------Redburn cuts BP to 'neutral'----------Deutsche Bank raises Entain price target to 1,892 (1,800) pence - 'buy'----------Deutsche Bank raises Flutter Entertainment price target to 16,116 (15,147) pence - 'buy'----------Bank of America cuts Segro to 'neutral' (buy) - price target 840 (850) pence----------Bank of America raises Land Securities to 'buy' (neutral) - price target 740 (640) pence----------Bank of America raises British Land to 'buy' (underperform) - price target 470 (400) pence----------Bernstein raises Tesco price target to 280 (270) pence - 'outperform'----------Bernstein raises Sainsbury price target to 210 (200) pence - 'market-perform'----------Barclays raises United Utilities target to 1,310 (1,250) pence - 'overweight'----------Barclays raises SSE price target to 2,110 (1,835) pence - 'overweight'----------Barclays raises Centrica price target to 160 (150) pence - 'overweight'----------Berenberg raises AstraZeneca price target to 12,600 (11,800) pence - 'buy'----------RBC raises HSBC price target to 750 (725) pence - 'outperform'----------Goldman Sachs cuts Beazley price target to 810 (840) pence - 'buy'----------Bank of America raises Rio Tinto price target to 7,400 (6,900) pence - 'buy'----------Credit Suisse raises NatWest price target to 390 (370) pence - 'outperform'----------Credit Suisse cuts Standard Chartered target to 525 (535) pence - 'underperform'----------JPMorgan raises Prudential price target to 1,750 (1,500) pence - 'overweight'----------Jefferies raises Unilever price target to 4,850 (4,500) pence - 'buy' ----------FTSE 250----------JPMorgan cuts TI Fluid Systems price target to 150 (170) pence - 'overweight'----------Kepler Cheuvreux cuts John Wood to 'hold' (buy) - price target 140 (275) pence----------Barclays raises John Wood price target to 190 (180) pence - 'equal weight'----------Bank of America raises SSP price target to 310 (290) pence - 'buy'----------Deutsche Bank research cuts SSP price target to 240 (250) pence - 'hold'----------Bank of America raises Carnival price target to 900 (770) pence - 'neutral'----------Bank of America cuts Hammerson price target to 18 (20) pence - 'underperform'----------Bank of America cuts Workspace price target to 440 (450) pence - 'underperform'----------Bank of America raises Capital & Counties to 'neutral' (underperform) - price target 115 (140) pence----------Deutsche Bank raises Playtech price target to 608 (601) pence - 'buy'----------Deutsche Bank raises Britvic price target to 750 (740) pence - 'hold'----------Deutsche Bank raises JD Wetherspoon target to 640 (630) pence - 'buy'----------Deutsche Bank raises Tui price target to 1.80 (1.70) EUR - 'hold'----------Deutsche Bank raises Tui price target to 152 (140) pence - 'hold'----------Deutsche Bank raises Mitchells & Butlers target to 240 (213) pence - 'buy'----------Deutsche Bank raises Greggs to 'buy' (hold) - price target 2,950 (1,950) pence----------Bank of America raises Great Portland price target to 600 (540) pence - 'neutral'----------Bank of America cuts Big Yellow price target to 1400 (1900) pence - 'buy'----------Bank of America raises Safestore to 'buy' (neutral) - price target 1200 (1410) pence----------Bank of America cuts Derwent London price target to 3,000 (3,100) pence - 'buy'----------Goldman Sachs raises Lancashire price target to 655 (635) pence - 'neutral'----------Goldman Sachs cuts Hiscox price target to 1325 (1375) pence - 'buy' ----------SMALL CAP----------Kepler Cheuvreux cuts Petrofac to 'reduce' (hold) - price target 70 (140) pence----------Berenberg raises Kenmare Resources price target to 780 (710) pence - 'buy'----------Deutsche Bank cuts Restaurant Group target to 42 (47) pence - 'hold'----------Deutsche Bank raises Marston's target to 50 (44.40) pence - 'hold'----------Barclays raises Hunting price target to 420 (390) pence - 'overweight'----------Credit Suisse cuts Wise price target to 480 (500) pence - 'neutral'----------JPMorgan cuts THG price target to 47 (54) pence - 'underweight' ----------Copyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.18/Factbox-Moderna data puts the spotlight on RSV vaccines under development.txt b/news/AZN/2023.01.18/Factbox-Moderna data puts the spotlight on RSV vaccines under development.txt new file mode 100644 index 0000000000000000000000000000000000000000..504ff390661bc28eb7dca6af45b39f7f4fb14083 --- /dev/null +++ b/news/AZN/2023.01.18/Factbox-Moderna data puts the spotlight on RSV vaccines under development.txt @@ -0,0 +1 @@ +There is only one drug in the United States for RSV, and rivals Pfizer Inc and GSK Plc expect a decision in May 2023 for their experimental RSV shots for adults. RSV is a common respiratory virus that usually causes mild, cold-like symptoms but can also lead to serious illness and hospitalization. Following is a list of companies developing drugs and vaccines for the virus: MODERNAModerna Inc's experimental messenger RNA vaccine for RSV was 83.7% effective in a late-stage trial at preventing at least two symptoms, such as cough and fever, in adults aged 60 and older.The company plans to submit the vaccine, mRNA-1345, for approval consideration globally in the first half of 2023.PFIZERThe company is developing an RSV shot for older adults as well as for infants when given to expectant mothers. The U.S. Food and Drug Administration is set to decide by May this year for adults RSV shot. In November last year, Pfizer Inc reported that its RSV vaccine was 81.8% effective in a late-stage study in preventing severe infections in infants when given to expectant mothers. The vaccine in August was shown to be 66.7% effective in a different trial among participants aged 60 and above with two or more symptoms. GSKGSK Plc's vaccine was 82.6% effective against RSV infection in a late-stage study involving adults aged 60 and over, data showed in October last year. U.S. and Europe authorities are yet to approve the vaccine. SANOFI AND ASTRAZENECAIn November last year, Sanofi SA and AstraZeneca Plc gained the European Commission's marketing authorization for their antibody treatment nirsevimab for preventing disease caused by RSV in infants. Nirsevimab in March last year had showed an efficacy of 74.5% against some types of lower respiratory tract infections compared with a placebo in infants in a late-stage study. It received a breakthrough therapy designation in the United States and is under review by the FDA. JOHNSON & JOHNSONJohnson & Johnson began a late-stage study of its RSV vaccine in 2021 for adults aged 60 years and older.MERCK Merck & Co Inc is currently conducting a late-stage study testing its experimental antibody drug clesrovimab to prevent RSV infections in infants and children. It expects to complete the trial in 2024. BAVARIAN NORDICDenmark-based Bavarian Nordic in April last year began a late-stage trial for its RSV vaccine in volunteers aged 60 years and older. Study results are expected by mid-2023. (Reporting by Raghav Mahobe and Nandhini Srinivasan in Bengaluru; Editing by Devika Syamnath and Sriraj Kalluvila) \ No newline at end of file diff --git a/news/AZN/2023.01.18/How long will this bullish phase last?.txt b/news/AZN/2023.01.18/How long will this bullish phase last?.txt new file mode 100644 index 0000000000000000000000000000000000000000..bd2ca39bc1b93eaede4ac1cd0a7f5b9a572b9134 --- /dev/null +++ b/news/AZN/2023.01.18/How long will this bullish phase last?.txt @@ -0,0 +1,39 @@ + +According to Refinitiv, analysts expect Q4 earnings from S&P 500 companies to fall 2.4% from the year-ago quarter. +At the open, the Dow Jones was up 0.2%, the S&P 500 gained 0.3%, and the Nasdaq 100 rose 0.7%. + +Equity markets are on a bullish streak since the start of the year. The Nasdaq added a seventh consecutive session of gains. The U.S. technology index is a good gauge of investors' risk appetite. +That said, the streak almost came to an end yesterday, as the Nasdaq only gained 0.1% at the close. There was also a big gap with the Dow Jones, which fell 1.14%. The old index was hampered by Goldman Sachs, which fell 6.4% after very disappointing results. The U.S. bank is the second most influential stock of the Dow Jones, since it weighed more than 7% before yesterday's session. This is because the historical index of Wall Street is calculated from the price of shares and not their real capitalization. This is why Goldman Sachs, with its price of 350 dollars, has more influence on the index than Apple, which only quotes 136 dollars, even though the capitalization of the Cupertino-based group is 15 times higher. Modern indices take into account the floating capitalization of companies. +Now, question! Is the confidence boost of early 2023, fueled by the prospect of monetary policy normalization, a soft economic landing and a rebound in China, deeply rooted? This is what we will try to determine by dissecting Bank of America's monthly survey of a host of asset managers. The panel is representative (286 professionals managing $772 billion) and the timing is appropriate (the answers were given between January 6 and 12, which is as close as possible to the renewed optimism). The survey shows that investors are "still bearish, but much less so than in the fourth quarter", thanks to the dual factor of China and the Fed, but that they are still going in with a pinch of salt. There is a rotation towards emerging markets, the European Union and cyclical stocks, which is a pretty good description of what happened in the first half of January. +What is surprising, but which I mentioned earlier this week, is that managers are much more optimistic than economists about the months ahead. Their optimism for global growth is at its highest in a year, while fears of recession are at their lowest in 6 months. The adjustment variable, apparently, is China's return to the economic arena. We will see in the coming months who will be right. The main risks cited are "inflation remains high" at 35%, ahead of "a deep recession" (20%) and "central banks remain punitive" (18%). Other risks cited to a lesser extent are a geopolitical deterioration, a systemic credit event and the return of the coronavirus. As for the most bottled bets, being long the US dollar comes out on top but down from December. "Being long ESG assets" comes next, ahead of "being long Chinese stocks". Nothing very original, but no big surprises there. +One thing that is definitely weirder in this survey: in the prediction game for the end of 2023, investors see the 10-year US government bond yield at 3.6%, the S&P500 at 3900 and bitcoin at USD 15,500. Currently, we are at 3.48%, 3991 points and 21,200 USD respectively. I won't go into the 10-year rate, which looks pretty consistent, or the level of bitcoin, which is total mysticism, but I find it surprising that with a pretty bullish economic view, managers see the S&P500 lower than it is now. The answer is probably that investors are looking for performance elsewhere than in the US. And probably also that they are still a bit confused about their strategies. +Let's get back to today's session, with many corporate results, including Charles Schwabb, Prologis and PNC Financial. We also have speeches from Fed members during the day, in particular Raphael Bostic and Lorie Logan. Perhaps an opportunity for investors to refine their predictions on the central bank's intentions. +  +Economic highlights of the day: +In Europe, December inflation for the UK and the euro zone. In the US, a busy schedule with retail sales, industrial production, NAHB house price index and business inventories. All the agenda is here. Overnight, Japan reported sharply falling machinery orders in December, while the Bank of Japan left its monetary policy unchanged. +The dollar is down 0.5% to EUR 0.9218 and GBP 0.8069. The ounce of gold is up to USD 1917. Oil advanced, with North Sea Brent crude at USD 87.55 a barrel and U.S. light crude WTI at USD 82.05. The yield on 10-year US debt is down to 3.48%. Bitcoin is holding steady around USD 21,100. +  +In corporate news: +* United Airlines Holdings is up 3 percent in premarket trading after the airline said Tuesday it expects at least a fourfold increase in profit this year after quarterly earnings beat Wall Street expectations. +* Moderna climbed 6.7% in premarket trading after positive results from a clinical trial for its experimental messenger RNA vaccine against respiratory syncytial virus (RSV). +* Apple postponed indefinitely the expected launch of its connected glasses due to technical difficulties but still plans to launch a virtual and augmented reality headset this year, Bloomberg reported Tuesday. +* Uber - VTC platforms and representatives of independent VTC drivers in France have signed an agreement on minimum net income per ride set at 7.65 euros, Uber and labor organizations announced Wednesday. +* Coinbase Global - The crypto asset exchange platform announced Wednesday a suspension of its operations in Japan due to financial market volatility. +  +Analyst recommendations: + +Adobe: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $350. +AstraZeneca: Berenberg remains Buy with a price target raised from GBp 118 to GBp 126. +Magellan Midstream: Barclays upgrades to overweight from equal-weight. PT up 12% to $59. +Monarch Casino: Macquarie downgrades to neutral from outperform. PT up 2.2% to $81. +Morgan Stanley: Citi downgrades to neutral from buy. PT up 3% to $100. +Oracle:  D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $85. +Salesforce: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $150. +Snowflake: Scotiabank initiated coverage with a recommendation of sector perform. PT set to $125. +Unilever: Jefferies remains Buy with a price target raised from GBp 4500 to GBp 4850. +Vertex Pharmaceuticals: Canaccord Genuity reinstated coverage with a recommendation of hold. PT set to $311, a 0.3% decrease from last price. +Whitbread: Oddo BHF upgrades from Outperform to Neutral with a target of GBp 3500. +Williams Co: Barclays downgrades to equal-weight from overweight. PT up 13% to $37. +Willis Towers: Keefe, Bruyette & Woods upgrades to outperform from market perform. PT jumps 20% to $303. +UGI: Barclays cut its recommendation to underweight from equal-weight. PT down 3.7% to $39. + diff --git "a/news/AZN/2023.01.18/UPS AND DOWNS \"The FTSE ....txt" "b/news/AZN/2023.01.18/UPS AND DOWNS \"The FTSE ....txt" new file mode 100644 index 0000000000000000000000000000000000000000..edc8e4c10393ff9ddadf437952c5e472c99250a4 --- /dev/null +++ "b/news/AZN/2023.01.18/UPS AND DOWNS \"The FTSE ....txt" @@ -0,0 +1 @@ +UPS AND DOWNS "The FTSE 100 has underperformed despite briefly pushing up to a new four year high, with the record high at 7,903 remaining tantalisingly just out of reach. The main drags on the UK benchmark were the more defensive sectors of health care, with some underperformance from some big caps like Unilever, Astrazeneca, and HSBC. MICHAEL HEWSON, CMC MARKETS(c) 2023 City A.M., source Newspaper \ No newline at end of file diff --git a/news/AZN/2023.01.19/Goldman Sachs cuts Relx but raises WPP.txt b/news/AZN/2023.01.19/Goldman Sachs cuts Relx but raises WPP.txt new file mode 100644 index 0000000000000000000000000000000000000000..ff3385fe1a700d87756a8158fa03da62f1635c49 --- /dev/null +++ b/news/AZN/2023.01.19/Goldman Sachs cuts Relx but raises WPP.txt @@ -0,0 +1 @@ +(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:----------FTSE 100----------Kepler Cheuvreux raises Burberry price target to 2,300 (2,000) pence - 'hold'----------Goldman Sachs raises Burberry price target to 2,815 (2,770) pence - 'buy'----------UBS raises Burberry price target to 2,321 (2,213) pence - 'neutral'----------Oddo BHF raises AstraZeneca price target to 13,800 (12,300) pence - 'outperform'----------JPMorgan raises Sage Group price target to 780 (725) pence - 'neutral'----------Jefferies cuts Imperial Brands price target to 2,007 (2,008) pence - 'hold'----------Jefferies cuts British American Tobacco price target to 4,700 (4,800) pence - 'buy'----------Berenberg raises Reckitt Benckiser price target to 7,400 (7,050) pence - 'buy'----------Goldman Sachs cuts Reckitt Benckiser price target to 6,400 (6700) pence - 'neutral'----------Berenberg raises Unilever price target to 5,190 (4,800) pence - 'buy'----------Goldman Sachs cuts Unilever price target to 50 (51) EUR - 'neutral'----------RBC raises JD Sports Fashion price target to 185 (150) pence - 'outperform'----------Barclays cuts Pearson price target to 945 (970) pence - 'equal weight'----------Goldman Sachs raises Pearson price target to 1,209 (1,181) pence - 'buy'----------Barclays raises Beazley price target to 755 (748) pence - 'overweight'----------Goldman Sachs cuts Rightmove price target to 628 (715) pence - 'neutral'----------Goldman Sachs raises Auto Trader to 'buy' (neutral) - price target 749 (644) pence----------Goldman Sachs raises Informa to 'conviction buy list' (buy) - price target 907 (789) pence----------Goldman Sachs raises WPP to 'buy' (neutral) - price target 1,158 (920) pence----------Goldman Sachs cuts Relx to 'neutral' (buy) - price target 2,863 (2,869) pence----------JPMorgan places Shell on 'positive catalyst watch'----------JPMorgan cuts BP price target to 540 (560) pence - 'neutral'----------JPMorgan cuts Antofagasta price target to 1,280 (1,410) pence - 'neutral' ----------UBS cuts Fresnillo to 'sell' (neutral) - price target 850 (900) pence----------FTSE 250----------Deutsche Bank cuts Ibstock price target to 176 (200) pence - 'hold'----------Berenberg raises Centamin price target to 141 (123) pence - 'buy'----------Berenberg raises Tate & Lyle price target to 940 (935) pence - 'buy'----------Barclays raises Lancashire price target to 693 (589) pence - 'equal weight'----------Barclays raises Hiscox price target to 1153 (1145) pence - 'equal weight'----------Goldman Sachs raises ITV price target to 82 (75) pence - 'neutral'----------JPMorgan raises Vistry price target to 570 (560) pence - 'underweight'----------Credit Suisse raises Man Group price target to 265 (250) pence - 'outperform'----------Exane BNP cuts Wizz Air to 'underperform' (neutral) - price target 2,000 (1,800) pence ----------SMALL CAP----------Jefferies cuts boohoo price target to 85 (100) pence - 'buy'----------Berenberg cuts Ilika price target to 125 (130) pence - 'buy'----------Berenberg cuts Craneware price target to 2,300 (2,600) pence - 'buy'----------Berenberg cuts Yamana Gold to 'hold' (buy) - price target 500 (660) pence----------Berenberg cuts DFS Furniture price target to 195 (280) pence - 'buy'----------Berenberg raises Fevertree Drinks price target to 1,150 (1,000) pence - 'hold'----------Goldman Sachs raises Fevertree Drinks price target to 1,100 (1,070) pence - 'neutral' ----------Copyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.20/Bank of America raises Asos, boohoo to 'buy' .txt b/news/AZN/2023.01.20/Bank of America raises Asos, boohoo to 'buy' .txt new file mode 100644 index 0000000000000000000000000000000000000000..fe7d4e143e2a83cea9df02492235f4d37166a46f --- /dev/null +++ b/news/AZN/2023.01.20/Bank of America raises Asos, boohoo to 'buy' .txt @@ -0,0 +1 @@ +(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:----------FTSE 100----------Stifel cuts AstraZeneca price target to 12,800 (13,300) pence - 'buy'----------Deutsche Bank raises CRH price target to 51 (50) EUR - 'buy'----------Oddo BHF raises IAG price target to 1.50 (1.20) EUR - 'underperform'----------Barclays raises Informa price target to 765 (725) pence - 'overweight'----------Barclays raises Vodafone price target to 120 (115) pence - 'equal weight'----------Goldman Sachs raises Croda International price target to 8,300 (8,200) pence - 'buy'----------Jefferies cuts Hargreaves Landsdown to 'underperform' (hold) - price target 800 pence----------Investec cuts Scottish Mortgage in to 'sell' (hold) ----------FTSE 250----------Bank of America raises Asos to 'buy' (underperform) - price target 1,650 (450) pence----------RBC cuts Dr Martens price target to 250 (300) pence - 'outperform' ----------Credit Suisse cuts Network International price target to 360 (390) pence - 'outperform'----------Barclays cuts Harbour Energy price target to 520 (585) pence - 'overweight'----------Peel Hunt cuts Harbour Energy to 'hold' - price target 325 pence----------Barclays raises Dunelm price target to 1,300 (1,100) pence - 'overweight'----------JPMorgan raises Dunelm price target to 1,150 (1,130) pence - 'neutral'----------Barclays raises AJ Bell price target to 310 (280) pence - 'underweight'----------Deutsche Bank cuts Virgin Money to 'hold' (buy) - price target 220 (230) pence----------Oddo BHF cuts Wizz Air to 'neutral' (outperform) - price target 3,140 (2,900) pence----------Jefferies raises 3i Infrastructure to 'buy'----------SMALL CAP----------Bank of America raises boohoo to 'buy' (neutral) - price target 75 (53) pence----------SocGen raises boohoo price target to 49 (38) pence - 'hold'----------Jefferies cuts Secure Trust Bank price target to 1,420 (1,820) pence - 'buy'----------Oddo BHF raises Ryanair price target to 18 (15.60) EUR - 'outperform'----------Barclays raises Just Eat Takeaway price target to 2,630 (1,450) pence - 'equal weight'----------Barclays raises Just Eat Takeaway price target to 30 (17) EUR - 'equal weight'----------Barclays cuts Deliveroo price target to 105 (110) pence - 'equal weight'----------JPMorgan raises BHP Group price target to 2,500 (2,450) pence - 'neutral' ----------Copyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.20/FTSE 100 steadies after difficult week.txt b/news/AZN/2023.01.20/FTSE 100 steadies after difficult week.txt new file mode 100644 index 0000000000000000000000000000000000000000..774942722714fadf3a24dc0b17859eba1936388a --- /dev/null +++ b/news/AZN/2023.01.20/FTSE 100 steadies after difficult week.txt @@ -0,0 +1 @@ +(Alliance News) - European equities closed higher on Friday, clawing back some losses at the end of a week which saw post-new year optimism in stock markets give way to caution. In London, blue-chip and mid-cap retailers shook off poor UK consumer data. The FTSE 100 underperformed European peers, however, as international earners struggled amid a stronger pound. The FTSE 100 index closed up 23.30 points, 0.3%, at 7,770.59. The FTSE 250 rose 128.52 points, or 0.7%, at 19,702.63, and the AIM All-Share rose 3.93 points, or 0.5%, at 856.02.For the week, the FTSE 100 lost 0.9%, the FTSE 250 gave back 1.3% and the AIM All-Share gave returned 1.0%.The Cboe UK 100 ended up 0.2% at 777.04 on Friday. The Cboe UK 250 rose 0.7% at 17,225.22, and the Cboe Small Companies added 0.1% at 13,982.67.In European equities on Friday, the CAC 40 in Paris closed up 0.6%, while the DAX 40 in Frankfurt added 0.7%. "2022 was a battle over inflation and how high interest rates would go. 2023 is turning into a battle over recessionary conditions and how much negative news is priced into stocks and bonds. There is wide disagreement on both, leading to an even cloudier picture for investors," analysts at Tower Bridge Advisors commented. The euro stood at USD1.0837 at the time of the European equities close on Friday, higher against USD1.0795 on Thursday. Against the yen, the dollar was trading at JPY129.88, higher compared to JPY128.45. Fresh economic data painted a gloomy picture about the UK economy, meanwhile. According to the latest data released by the Office for National Statistics, UK retail sales volumes are estimated to have fallen by 1.0% in December from November.Markets had expected retail sales volumes to rise by 0.5% monthly in December, according to FXStreet.In addition, GfK's UK consumer confidence indicator dipped to a near-historic low in January.The pound was quoted at USD1.2379 late Friday in London, up from USD1.2363 on Thursday. Retail shares largely shook-off the poor data, which has been at odds with largely positive post-Christmas updates from the sector. JD Sports added 2.8%, among the best FTSE 100 performers.Asos jumped 11% after Bank of America lifted the online fashion retailer to 'buy' from 'underperform'. Peer boohoo rose 8.5% after BofA upped it to 'buy' from 'neutral'. The stronger pound hit international earners however, with AstraZeneca and Diageo, two of the FTSE 100's largest constituents, falling 1.9% and 0.3%. While larger peers shone, retailer In The Style tumbled 29%. The seller of womenswear fashion expects a swing to a loss for the year ending March 31.In The Style expects annual revenue "to be in region" of GBP46 million, down 19% from GBP57.3 million a year ago. It anticipates an adjusted loss before interest, tax, depreciation and amortisation between GBP4.3 million and GBP4.8 million, swinging from an adjusted Ebitda of GBP551,000 a year ago. Elsewhere in London, Spirent dropped 19% as it noted some hesitance among its clients for the first half of 2023.The firm explained that global economic conditions have caused some of its customers to delay their investment decisions in the new year. As a result, it now expects its annual performance to have a "heavier than usual" weighting towards the second half of 2023.In 2022, however, the provider of testing, analytics and security for telecommunications networks said its results were in line with expectations. Close Brothers gave back 11%. The merchant bank said it expects to recognise an additional provision in its interim financial statements against the Novitas loan book of up to GBP90 million.In 2021, Close Brothers decided to permanently cease the approval of lending to new customers across all the products offered by Novitas and withdraw from the legal services financing market.Brent oil was quoted at USD86.55 a barrel late Friday in London, up from USD85.36 late Thursday. Gold was quoted at USD1,925.41 an ounce, higher against USD1,919.03. Stocks in New York were higher at the time of the equities close in London. The Dow Jones Industrial Average was up 0.5%, the S&P 500 climbed 0.9%, and the Nasdaq Composite surged 1.4%.Alphabet's 'A' stock was up 4.6%. Google's parent company said it will cut around 12,000 jobs, the latest major technology firm to slash its workforce.Alphabet's Chief Executive Sundar Pichai said in an email sent to staff: "I have some difficult news to share. We've decided to reduce our workforce by approximately 12,000 roles."I take full responsibility for the decisions that led us here."The CEO said the lay-offs are global, impacting US employees immediately, and will affect teams across the company.Alphabet joins Microsoft, Salesforce, Facebook-owner Meta Platforms and Amazon in imposing job cuts as the world economy heads into a downturn.Netflix added 6.5% on the back of forecast-topping subscriber growth and a change at the top. Netflix said it added 7.7 million subscribers in the fourth quarter of 2022, markedly beating a forecast of 4.5 million, though slowing from 8.3 million a year earlier.The streaming service said its founder, Reed Hastings, will switch from co-chief executive to executive chair. The move mirrors those of other tech founders, such as Amazon's Jeff Bezos.Joining Ted Sarandos as a co-chief executive is operating chief Greg Peters.The company also reiterated its intention to use revenue growth as its key growth metric going forward, rather than subscriber adds. Financial markets in Shanghai and Hong Kong are closed on Monday for the Lunar New Year holiday. Shanghai is closed for the whole week, while Hong Kong re-opens on Thursday. The week picks up pace with a series of flash PMIs on Tuesday and a Bank of Canada interest rate announcement on Wednesday. Monday's local corporate calendar has half-year results from cannabinoid medicines-focused firm Oxford Cannabinoid Technologies and a trading statement from Tritax Big Box REIT. Over in New York, Microsoft reports half-year results on Tuesday, aerospace company Boeing and electric carmaker Tesla post annual numbers on Wednesday, before oil major Chevron on Thursday.By Eric Cunha, Alliance News news editorComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.23/AstraZeneca Begins Tender Offer to Acquire CinCor Pharma, Inc..txt b/news/AZN/2023.01.23/AstraZeneca Begins Tender Offer to Acquire CinCor Pharma, Inc..txt new file mode 100644 index 0000000000000000000000000000000000000000..228e128cc0080184f3c1ba590b2f410d66658e64 --- /dev/null +++ b/news/AZN/2023.01.23/AstraZeneca Begins Tender Offer to Acquire CinCor Pharma, Inc..txt @@ -0,0 +1,31 @@ + +AstraZeneca is commencing today, through a subsidiary, a tender offer to purchase all outstanding shares of CinCor Pharma, Inc. (CinCor), for $26 per share in cash at closing, plus a non-tradable contingent value right of $10 per share in cash payable upon a specified regulatory submission for a baxdrostat product. On 9 January 2023, AstraZeneca announced that it had entered into a definitive agreement to acquire CinCor. Following the successful closing of the tender offer, CinCor will become a subsidiary of AstraZeneca. + +AstraZeneca will file today with the U.S. Securities and Exchange Commission (the SEC) a tender offer statement on Schedule TO, which provides the terms of the tender offer. Additionally, CinCor will file with the SEC a solicitation/recommendation statement on Schedule 14D-9 that includes the recommendation of the CinCor board of directors that CinCor stockholders accept the tender offer and tender their shares. + +The tender offer will expire at one minute past 11:59 p.m. Eastern Time, on 23 February 2023, unless extended or earlier terminated in accordance with the merger agreement and the applicable rules and regulations of the SEC. The closing of the tender offer is subject to certain conditions, including the tender of shares representing at least one more than 50% of the total number of CinCor’s outstanding shares, receipt of applicable regulatory approvals, and other customary conditions. The transaction is expected to close in the first quarter of 2023. + +Important information about the tender offer + +This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any shares of the common stock of CinCor or any other securities, nor is it a substitute for the tender offer materials described herein. A tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and related documents, will be filed today by AstraZeneca PLC (AstraZeneca), AstraZeneca Finance and Holdings Inc. and Cinnamon Acquisition, Inc., a wholly-owned indirect subsidiary of AstraZeneca, with the Securities and Exchange Commission (the SEC), and a solicitation/recommendation statement on Schedule 14D-9 will be filed by CinCor with the SEC. + +INVESTORS AND SECURITY HOLDERS ARE URGED TO CAREFULLY READ BOTH THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 REGARDING THE OFFER, AS THEY MAY BE AMENDED FROM TIME TO TIME, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT INVESTORS AND SECURITY HOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SECURITIES. + +Investors and security holders may obtain a free copy of the Offer to Purchase, the related Letter of Transmittal, certain other tender offer documents and the Solicitation/Recommendation Statement (when available) and other documents filed with the SEC at the website maintained by the SEC at www.sec.gov or by directing such requests to the information agent for the tender offer, which will be named in the tender offer statement. In addition, CinCor files annual, quarterly and current reports and other information, and AstraZeneca files annual reports and other information with the SEC, which are available to the public from commercial document-retrieval services and at the SEC’s website at www.sec.gov. Copies of the documents filed with the SEC by AstraZeneca may be obtained at no charge on the investor relations page of AstraZeneca’s internet website at www.astrazeneca.com. Copies of the documents filed with the SEC by CinCor may be obtained at no charge under the “Investors” section of CinCor’s internet website at www.cincor.com. + +Forward-looking statements + +This announcement may include statements that are not statements of historical fact, or “forward-looking statements,” including with respect to AstraZeneca’s proposed acquisition of CinCor. Such forward-looking statements include, but are not limited to, the ability of AstraZeneca and CinCor to complete the transactions contemplated by the acquisition agreement, including the parties’ ability to satisfy the conditions to the consummation of the offer contemplated thereby and the other conditions set forth in the merger agreement, statements about the expected timetable for completing the transaction, AstraZeneca’s and CinCor’s beliefs and expectations and statements about the benefits sought to be achieved in AstraZeneca’s proposed acquisition of CinCor, the potential effects of the acquisition on both AstraZeneca and CinCor, the possibility of any termination of the acquisition agreement, as well as the expected benefits and success of baxdrostat and any combination product. These statements are based upon the current beliefs and expectations of AstraZeneca’s and CinCor’s management and are subject to significant risks and uncertainties. There can be no guarantees that the conditions to the closing of the proposed transaction will be satisfied on the expected timetable or at all or that baxdrostat or any combination product will receive the necessary regulatory approvals or prove to be commercially successful if approved. If underlying assumptions prove inaccurate or risks or uncertainties materialise, actual results may differ materially from those set forth in the forward-looking statements. + +Risks and uncertainties include but are not limited to, uncertainties as to the timing of the offer and the subsequent merger; uncertainties as to how many of CinCor’s stockholders will tender their shares in the offer; the risk that competing offers or acquisition proposals will be made; the possibility that various conditions to the consummation of the offer and the merger contemplated by the acquisition agreement may not be satisfied or waived; the ability to obtain necessary regulatory approvals or to obtain them on acceptable terms or within expected timing; the effects of disruption from the transactions contemplated by the acquisition agreement and the impact of the announcement and pendency of the transactions on CinCor’s business; the risk that stockholder litigation in connection with the offer or the merger may result in significant costs of defense, indemnification and liability; the possibility that the milestone related to the contingent value right will not be achieved; general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of COVID-19; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; competition from other products; and challenges inherent in new product development, including obtaining regulatory approval. + +Neither AstraZeneca nor CinCor undertakes any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in AstraZeneca’s Annual Report on Form 20-F for the year ended 31 December 2021, CinCor’s Annual Report on Form 10-K for the year ended 31 December 2021 and CinCor’s Quarterly Reports on Form 10-Q for the three months ended 31 March 2022, 30 June 2022 and 30 September 2022, in each case as amended by any subsequent filings made with the SEC. These and other filings made by AstraZeneca and CinCor with the SEC are available at the SEC’s Internet site (www.sec.gov). + +AstraZeneca in CVRM + +Cardiovascular, Renal and Metabolism (CVRM), part of BioPharmaceuticals, forms one of AstraZeneca’s main disease areas and is a key growth driver for the Company. By following the science to understand more clearly the underlying links between the heart, kidneys and pancreas, AstraZeneca is investing in a portfolio of medicines for organ protection and improve outcomes by slowing disease progression, reducing risks and tackling co-morbidities. The Company’s ambition is to modify or halt the natural course of CVRM diseases and potentially regenerate organs and restore function, by continuing to deliver transformative science that improves treatment practices and CV health for millions of patients worldwide. + +AstraZeneca + +AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230122005024/en/ \ No newline at end of file diff --git a/news/AZN/2023.01.23/Jefferies cuts Berkeley; HSBC cuts St James's.txt b/news/AZN/2023.01.23/Jefferies cuts Berkeley; HSBC cuts St James's.txt new file mode 100644 index 0000000000000000000000000000000000000000..1ebc67e63a554616b87e5e924a86d3b55c1c9b29 --- /dev/null +++ b/news/AZN/2023.01.23/Jefferies cuts Berkeley; HSBC cuts St James's.txt @@ -0,0 +1 @@ +(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:----------FTSE 100----------Jefferies cuts Berkeley Group to 'hold' (buy) - price target 4,651 (4,554) pence----------Jefferies raises Taylor Wimpey price target to 135 (124) pence - 'buy'----------Jefferies raises Barratt Developments price target to 486 (452) pence - 'hold'----------Jefferies raises Persimmon price target to 1,469 (1,436) pence - 'hold'----------HSBC cuts St James's Place to 'hold' (buy)----------Barclays cuts St James's Place target to 1,507 (1,549) pence - 'equal weight'----------Berenberg cuts National Grid price target to 1,100 (1,210) pence - 'hold'----------RBC raises Smiths Group price target to 1,650 (1,600) pence - 'underperform'----------Morgan Stanley cuts Shell to 'equal-weight' (overweight)----------Berenberg raises Fresnillo price target to 1,100 (800) pence - 'hold'----------RBC raises Antofagasta price target to 1,400 (1,200) pence - 'sector perform'----------Jefferies cuts Vodafone price target to 85 (100) pence - 'hold'----------Bernstein cuts Vodafone price target to 100 (116) pence - 'market-perform'----------Deutsche Bank cuts Vodafone price target to 195 (215) pence - 'buy'----------Bernstein cuts BT Group price target to 145 (183) pence - 'market-perform'----------Berenberg raises Barclays price target to 270 (260) pence - 'buy'----------Kepler Cheuvreux raises AstraZeneca price target to 11,300 (10,500) pence - 'hold'----------Stifel raises Burberry price target to 2,550 (2,200) pence - 'buy'----------Deutsche Bank raises AB Foods to 'buy' (hold) - price target 2,180 (1,600) pence----------Deutsche Bank raises AB Foods to 'buy' ('hold') - target 2,180 (1,600) pence----------FTSE 250----------Jefferies raises Bellway price target to 2,554 (2,458) pence - 'buy'----------Jefferies raises Crest Nicholson price target to 313 (278) pence - 'buy'----------Jefferies raises Redrow price target to 650 (592) pence - 'buy'----------Jefferies raises Vistry price target to 929 (829) pence - 'buy'----------Kepler Cheuvreux cuts PageGroup to 'hold' (buy) - price target 475 (610) pence----------RBC raises Dunelm Group price target to 1,100 (820) pence - 'sector perform'----------RBC raises Currys price target to 70 (60) pence - 'sector perform'----------Goldman Sachs cuts Dr Martens to 'neutral' (buy) - price target 165 (330) pence----------SocGen cuts Watches of Switzerland price target to 1,240 (1,300) pence - 'buy'----------RBC raises Greencoat UK Wind price target to 210 (200) pence - 'outperform'----------Berenberg cuts Centamin price target to 140 (141) pence - 'buy'----------Berenberg cuts Energean price target to 1,580 (1,750) pence - 'buy'----------SMALL CAP, AIM AND OTHER MAIN MARKET----------Jefferies reinitiates Pendragon with 'buy' - price target 25 pence----------JPMorgan cuts ITM Power price target to 230 (280) pence - 'overweight'----------Berenberg cuts Yellow Cake price target to 543 (600) pence - 'buy' ----------Berenberg cuts Sovereign Metals price target to 83 (84) pence - 'buy'----------Berenberg raises Greatland Gold price target to 19 (18) pence - 'buy'----------Berenberg cuts Rainbow Rare Earths price target to 32 (33) pence - 'buy'----------Berenberg raises Pan African Resource price target to 32 (27) pence - 'buy'----------Berenberg raises Tharisa price target to 270 (250) pence - 'buy'----------Berenberg cuts Resolute Mining price target to 31 (37) pence - 'buy'----------Copyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.24/FTSE 100 dips after weak economic data fans recession fears.txt b/news/AZN/2023.01.24/FTSE 100 dips after weak economic data fans recession fears.txt new file mode 100644 index 0000000000000000000000000000000000000000..e57cb1a3bdf0b859415626d904ca152c1ec9abe5 --- /dev/null +++ b/news/AZN/2023.01.24/FTSE 100 dips after weak economic data fans recession fears.txt @@ -0,0 +1,33 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window)*UK PMI falls at fastest rate in 2 years*Senior jumps after upbeat forecast*FTSE 100 down 0.4%, FTSE 250 adds 0.3%Jan 24 (Reuters) - UK's blue-chip index closed in the +red on Tuesday, with healthcare and commodity stocks leading +losses after data showed British private-sector economic +activity fell at its fastest rate in two years in January.The FTSE 100 closed the session 0.4% lower, with +drugmaker AstraZeneca and miner Glencore being +the top drags.The S&P Global/CIPS flash composite Purchasing +Managers' Index (PMI) dropped to 47.8 in January from 49.0 in +December, at the bottom end of economist forecasts, as +businesses blamed higher Bank of England interest rates, strikes +and weak consumer demand for the slowdown."The PMI wasn't particularly robust. It is a reminder +that 2023, from a macroeconomic perspective, is likely to be a +challenging year," said Richard Flax, chief investment officer +at Moneyfarm.The healthcare and mining +sectors fell 2.4% and 0.7% respectively.Separately, data showed Britain's government borrowed more +last month than in any December since monthly records began 30 +years ago, reflecting the huge cost of energy support and +soaring debt interest linked to rising inflation."A difficult morning for the UK data-wise, as the +higher-than-expected borrowing figures highlight the tight +fiscal constraints the government is working under," said Stuart +Cole, head macro economist at Equiti Capital.Market participants are pricing in a 69.5% chance of a +50-basis-point hike by the Bank of England next week.Interest rate hikes are expected to continue with the U.S. +Federal Reserve and the European Central Bank coming out with +their monetary policy decisions next week.Senior surged 7.5% after the aerospace company said +its adjusted profit for 2022 is expected to exceed expectations, +pushing the FTSE 250 midcaps to close up 0.3%.Associated British Foods fell 2.0% after the group +cautioned economic headwinds may dent consumer spending in 2023.Aircraft engine maker Rolls-Royce gained 3.0% to the +top of FTSE 100 after Exane BNP Paribas upgraded the stock to +"neutral" from "underperform" on the company having a balanced +risk-reward ratio. +(Reporting by Shashwat Chauhan and Shristi Achar A in +Bengaluru; Editing by Rashmi Aich, Krishna Chandra Eluri and +Mark Heinrich) \ No newline at end of file diff --git a/news/AZN/2023.01.24/FTSE 100 lags as other indices make headway.txt b/news/AZN/2023.01.24/FTSE 100 lags as other indices make headway.txt new file mode 100644 index 0000000000000000000000000000000000000000..1d063f8c0c69ed372e978b9119863ed5ca7f3efb --- /dev/null +++ b/news/AZN/2023.01.24/FTSE 100 lags as other indices make headway.txt @@ -0,0 +1 @@ +(Correcting December borrowing figure to billion.)(Alliance News) - Stock prices in London opened mixed on Tuesday, with the FTSE 100 underperforming, as a more positive mood prevailed elsewhere.The FTSE 100 index opened down 37.70 points, 0.5%, at 7,747.28. The FTSE 250 was up 31.45 points, 0.2%, at 19,833.14, and the AIM All-Share was up 2.51 points, 0.3%, at 861.59.The Cboe UK 100 was down 0.6% at 861.59, the Cboe UK 250 was up 0.4% at 17,341.81, and the Cboe Small Companies was slightly lower at 13988.99"Winds of optimism are still blowing through financial markets, with indices in Europe and Asia higher after stocks on Wall Street sailed ahead at a clip. Investors are looking through the storm clouds hovering over the global economy hoping that the downpour won't completely drown growth," said Hargreaves Lansdown's Susannah Streeter.In local data, UK public sector borrowing - excluding public sector banks - in the final month of 2022 reached its highest December figure since monthly records began in 1993, according to the ONS.Borrowing hit GBP27.4 billion, which was GBP16.7 billion higher than the previous year, and GBP9.8 billion higher than the latest official forecast from the Office for Budget Responsibility.The increase was largely due to a sharp rise in the spend for energy support schemes, as well as an increase in debt interest."It's the third month in a row that borrowing has exceeded expectations, and faced with this deteriorating deficit, it will leave the government with no wriggle room for any quick tax giveaways in the March budget and it's likely that a very tight grip will be kept on spending," HL's Streeter said.In European equities early Tuesday, the CAC 40 index in Paris was up 0.3%, while the DAX 40 in Frankfurt was up 0.1%.Consumer confidence in Germany improved at the start of 2023 for the fourth consecutive month, according to the latest Growth for Knowledge survey.GfK forecasts a reading of minus 33.9 points for its consumer sentiment tracker in February, up 3.7 points from a revised figure of minus 37.6 in January.The brighter outlook is mostly due to falling prices of energy, including gasoline and heating oil, GfK noted."It's another positive sign for companies fearing the effects of well-flagged interest rate rises, indicating that consumers are showing resilience, but they are still likely to stay cautious," HL's Streeter noted.In further positive news, the rate of deterioration in Europe's largest private sector eased in January. The BME Germany flash composite purchasing managers' index rose to 49.7 in January from 49.0 in December. Remaining below the 50.0 no-change mark, it shows the sector remains in contraction, but the pace of decline has slowed. The services PMI returned to growth at 50.4 points, sup from 49.7, offsetting the manufacturing PMI which fell to 47.0 from 47.1.In the foreign exchange market, the dollar was slightly softer early Tuesday.Sterling was quoted at USD1.2398, higher than USD1.2368 at the London equities close on Monday. The euro traded at USD1.0884, up from USD1.0870. Against the yen, the dollar was quoted at JPY130.00, down from JPY130.62.In the FTSE 100, Associated British Foods shed 1.1% in early trade.AB Foods said its Primark high-street retail chain enjoyed a "very strong Christmas period", bucking a consumer confidence malaise in the UK and beyond. However, it said things could sour as tough economic conditions may "weigh on consumer spending in the months ahead".In the 16 weeks to January 7, group revenue surged 20% to GBP6.70 billion, from GBP5.57 billion, as a strong dollar boosted dollar-denominated sales in pound terms. At constant currency, growth was slightly weaker at 16%.By unit, Grocery revenue climbed 14% and Agriculture revenue by 19%. In Sugar and Ingredients, it rose 31% and 36%, respectively. Across the whole of its Food sub-group, revenue was up 23% to GBP3.55 billion. In the Retail division, revenue was 18% higher at GBP3.15 billion from GBP2.67 billion a year earlier. Sales in the week leading up to Christmas Day "reached a new record", AB Foods said. Overall, AB Foods said its expectations for group annual results remain unchanged. It expects "significant" sales growth, with adjusted operating profit and adjusted earnings per share to be lower than the previous financial year."On the whole, there is an element of pleasant surprise within these numbers. The group has been able to pull different levers as it navigated changing conditions, and this diversification continues to deliver with Primark now returning to form," said interactive investor's Richard Hunter."However, this was not quite enough to repair the damage of the last financial period which included a profit warning...While the update may prompt some upgrades, the current market consensus remains at a hold until the new course can be shown to be sustainable."Share price falls for some of the FTSE 100 index's largest constituents were weighing it down early Tuesday, with AstraZeneca down 2.3%, Glencore down 1.9%, BP losing 0.% and Shell down 0.9%. In the FTSE 250, Senior jumped 9.8%, as the engineering firm boasted a rosy outlook, with profit expected to beat consensus. The components and systems manufacturer expects adjusted pretax profit to beat market consensus. Senior said its company-compiled consensus range is GBP16.2 million to GBP18.0 million. In 2021, it had made a GBP1.9 million adjusted pretax loss, narrowing from GBP6.2 million in 2020.Senior suffered from pandemic-driven supply chain weakness at an industry level last year. The Hertfordshire-based company's fortunes improved in 2022, however. The strong results will be led by an "outperformance" in its Flexonics arm, with the Aerospace division having traded in line with expectations. Among London small-caps, pub operator Marston's added 6.0%.The firm said like-for-like sales in the 16-week period to Saturday of last week were 13% ahead of the previous year, including the hit from Omicron. On a like-for-like basis, sales in the eight weeks to November 26 were 6.8% ahead of a year before, as previously reported. In the eight weeks after that, like-for-like sales were 19% ahead. The Wolverhampton, England-based pub chain also noted like-for-like sales were 4.5% ahead of financial 2020. the firm also noted its electricity costs are now hedged for the entirety of the current financial year to September. It left earnings guidance unchanged.In Tokyo on Tuesday, the Nikkei 225 index rose 1.5%, as preliminary survey results showed the Japanese private sector returned to growth in January.The latest au Jibun Bank services PMI rose to 52.4 points in January from 51.1 the month before, according to the flash reading.The services score lifted the flash composite PMI to 50.8 in January, from 49.7 in December. Crossing above the 50.0 no-change mark, it shows Japan's private sector has returned to marginal growth from last month's slight contraction.The manufacturing sector remained in contraction. The output index edged up to 47.1 points from 46.6.Meanwhile, markets in Shanghai and Hong Kong remained shut to mark Lunar New Year.The S&P/ASX 200 index in Sydney closed up 0.4%. Wall Street ended higher on Monday, with the Dow Jones Industrial Average up 0.8%, the S&P 500 up 1.2% and the tech-heavy Nasdaq Composite up 2.0%.Gold was quoted at USD1,938.72 an ounce early Tuesday, higher than USD1,922.40 late Monday. Brent oil was trading at USD88.04 a barrel, down from USD88.82In the economic calendar, there's the UK flash PMI at 0930 GMT, with the US to follow at 1445 GMT. By Elizabeth Winter, Alliance News senior markets reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.24/UK's FTSE 100 slips ahead of business activity data.txt b/news/AZN/2023.01.24/UK's FTSE 100 slips ahead of business activity data.txt new file mode 100644 index 0000000000000000000000000000000000000000..2ef9225435c27683f748fb12959987dc38f1454c --- /dev/null +++ b/news/AZN/2023.01.24/UK's FTSE 100 slips ahead of business activity data.txt @@ -0,0 +1 @@ +The blue chip FTSE 100 slipped 0.5% at 0825 GMT, while the domestically-inclined FTSE 250 midcap index rose 0.1%.Early losses in drugmaker AstraZeneca and GSK weighed on the FTSE 100, with both the stocks dropping 2.2% and 0.8%, respectively.Oil majors BP and Shell also added to losses, falling between 0.5% and 0.8%.Investors would be on the lookout for UK's January business activity data due 0930 GMT, a crucial pit stop in gauging the state of the economy heading into the Bank of England's (BoE) decision on interest rates next week. (Reporting by Shashwat Chauhan in Bengaluru; Editing by Rashmi Aich) \ No newline at end of file diff --git a/news/AZN/2023.01.25/ASTRAZENECA : Barclays gives a Buy rating.txt b/news/AZN/2023.01.25/ASTRAZENECA : Barclays gives a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..a427cddcbf1227b5a8580a91dac9baa3aa932c88 --- /dev/null +++ b/news/AZN/2023.01.25/ASTRAZENECA : Barclays gives a Buy rating.txt @@ -0,0 +1 @@ +Barclays analyst Emily Field maintains his Buy rating on the stock. The target price has been raised from GBX 12500 to GBX 13500. \ No newline at end of file diff --git a/news/AZN/2023.01.25/Goldman likes UK banks; HSBC cuts Dr Martens.txt b/news/AZN/2023.01.25/Goldman likes UK banks; HSBC cuts Dr Martens.txt new file mode 100644 index 0000000000000000000000000000000000000000..79754c5199634d516dd67b9632c87af09a41d6b9 --- /dev/null +++ b/news/AZN/2023.01.25/Goldman likes UK banks; HSBC cuts Dr Martens.txt @@ -0,0 +1 @@ +(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:----------FTSE 100----------Jefferies raises InterContinental Hotels target to 6,200 (5,500) pence - 'buy'----------Jefferies raises Auto Trader price target to 700 (610) pence - 'buy'----------Jefferies raises Rightmove price target to 385 (340) pence - 'underperform'----------Credit Suisse cuts Experian to 'neutral' (outperform) - price target 2,900 (3,250) pence----------Goldman Sachs raises NatWest price target to 490 (460) pence - 'conviction buy list'----------Goldman Sachs raises Lloyds Banking price target to 76 (73) pence - 'buy'----------Goldman Sachs raises Barclays price target to 280 (255) pence - 'buy'----------SocGen raises AB Foods price target to 1,900 (1,575) pence - 'hold'----------Barclays raises AB Foods price target to 2,000 (1,700) pence - 'equal weight'----------Goldman Sachs raises AB Foods price target to 2,000 (1,900) pence - 'neutral'----------Barclays raises AstraZeneca price target to 13,500 (12,500) pence - 'overweight'----------Goldman Sachs cuts Segro price target to 920 (960) pence - 'buy'----------Goldman Sachs raises Land Securities price target to 660 (620) pence - 'neutral'----------Goldman Sachs raises British Land price target to 420 (390) pence - 'neutral'----------FTSE 250----------Berenberg cuts Direct Line Insurance to 'hold' (buy) - price target 160 (272) pence----------Goldman Sachs raises Virgin Money price target to 210 (200) pence - 'neutral'----------Goldman Sachs raises Hammerson price target to 22 (20) pence - 'sell'----------Goldman Sachs raises Supermarket Income REIT target to 98 (97) pence - 'neutral'----------Goldman Sachs raises Derwent London price target to 2,980 (2,910) pence - 'buy'----------Goldman Sachs raises Great Portland price target to 610 (570) pence - 'buy'----------HSBC raises easyJet to 'buy' - price target 630 pence----------HSBC cuts Dr Martens to 'hold' (buy) - price target 140 (320) pence----------Barclays raises Hikma Pharmaceuticals target to 1,650 (1,350) pence - 'equal weight'----------Berenberg starts Petershill Partners with 'buy' - price target 220 pence----------Goldman Sachs raises Big Yellow price target to 1,390 (1,250) pence - 'buy'----------Goldman Sachs raises Tritax Big Box price target to 170 (160) pence - 'buy'----------SMALL CAP----------Deutsche Bank cuts South32 price target to 240 (265) pence - 'hold'----------Berenberg cuts Nichols price target to 1,100 (1,325) pence - 'hold'----------Berenberg raises Conduit Holdings price target to 590 (570) pence - 'buy'----------Copyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.26/AstraZeneca loses emergency use authorisation for Evusheld.txt b/news/AZN/2023.01.26/AstraZeneca loses emergency use authorisation for Evusheld.txt new file mode 100644 index 0000000000000000000000000000000000000000..024b774e1df0b3787ea93086f5f4d553110eed82 --- /dev/null +++ b/news/AZN/2023.01.26/AstraZeneca loses emergency use authorisation for Evusheld.txt @@ -0,0 +1 @@ +AstraZeneca PLC - Cambridge, England-based pharmaceutical firm - Reports that the US Food & Drug Administration withdrew its authorisation for the emergency use of Evusheld, a medicine used to prevent Covid-19 in adults and adolescents, for the emergency use for pre-exposure prophylaxis of Covid-19 in the US. Says that the FDA will make a determination about reinstating authorisation of Evusheld if the national prevalence of resistant variants decreases to 90%. Explains that the withdrawal is due the sustained high frequency of circulating SARS-CoV-2 variants that Evusheld does not retain in vitro neutralisation against.Current stock price: 10,809.75 pence12-month change: up 22%By Abby Amoakuh, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Limited. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.26/AstraZeneca's Enhertu approved in EU for breast cancer form.txt b/news/AZN/2023.01.26/AstraZeneca's Enhertu approved in EU for breast cancer form.txt new file mode 100644 index 0000000000000000000000000000000000000000..64fd95381fcc500324e45de586bd942cc9981a00 --- /dev/null +++ b/news/AZN/2023.01.26/AstraZeneca's Enhertu approved in EU for breast cancer form.txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC on Thursday said its cancer drug Enhertu, which it develops with Daiichi Sankyo Co Ltd, has been approved in the EU for the treatment of metastatic breast cancer.The Cambridge-based pharmaceutical company said the approval is the first for HER2-directed therapy for patients with human epidermal growth factor receptor 2-low metastatic breast cancer. Enhertu is an antibody-drug conjugate.The approval was based on results from study Destiny-Breast04, which showed a risk of disease progression or death by 50% as well as increased overall survival by more than six months compared to chemotherapy. "A median progression-free survival of 9.9 months was seen with Enhertu versus 5.1 months in those treated with chemotherapy, as assessed by blinded independent central review," AstraZeneca explained.Dave Fredrickson, executive vice president of AstraZeneca's Oncology Business unit, said: "Historically, patients with breast cancer who have tumours with low levels of HER2 expression have been classified as HER2-negative, giving them limited treatment options beyond chemotherapy. This approval reinforces the important role Enhertu may have for patients with HER2-low disease and highlights the need to evolve the way breast cancer is treated to improve patient outcomes.”AstraZeneca shares were 0.03% higher at 10,814.00 pence each in London on Thursday morning, while Daiichi shares were 0.3% lower at JPY4,377.00 in Tokyo.By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.26/Astrazeneca : Update on US Food and Drug Administration Emergency Use Authorisation of Evu...txt b/news/AZN/2023.01.26/Astrazeneca : Update on US Food and Drug Administration Emergency Use Authorisation of Evu...txt new file mode 100644 index 0000000000000000000000000000000000000000..3baf8162cf177e2b51029b9f65074030ad84f1c9 --- /dev/null +++ b/news/AZN/2023.01.26/Astrazeneca : Update on US Food and Drug Administration Emergency Use Authorisation of Evu...txt @@ -0,0 +1,135 @@ + + + +PUBLISHED26 January 2023 + + + + + + 26 January 2023 18:15 GMT + + + + + The US Food and Drug Administration (FDA) has stated that AstraZeneca's Evusheld (tixagevimab co-packaged with cilgavimab) is not currently authorised for Emergency Use for pre-exposure prophylaxis (prevention) of COVID-19 in the US until further notice, due to the sustained high frequency of circulating SARS-CoV-2 variants that Evusheld does not retain in vitro neutralisation against. + + + The FDA has notified AstraZeneca that the Agency will make a determination about reinstating authorisation of Evusheld if the national prevalence of resistant variants decreases to 90% or less on a sustained basis. The US government recommends all Evusheld product be retained and properly stored in the event that variants susceptible to Evusheld, including those currently circulating at lower prevalence, become more prevalent in the future. + + + Based on in vitro pseudovirus assay laboratory data, Evusheld does not neutralise Omicron subvariants BQ.1, BQ.1.1, BF.7, BF.11, BA.5.2.6, BA.4.6, BA.2.75.2, XBB and XBB.1.5.1 The combined proportion of COVID-19 cases caused by these subvariants is currently greater than 90% in the US, according to the Centers for Disease Control and Prevention (CDC) Nowcast modelling data.2 + + + AstraZeneca will continue to work with the FDA and other health authorities to collect, assess and share relevant data regarding Evusheld and SARS-CoV-2 variants. Evusheld currently remains authorised in other countries where it is approved for COVID-19 pre-exposure prophylaxis and treatment, including the EU and Japan. + + +Next-generation long-acting antibody Phase I/III trial underway +AstraZeneca has initiated the SUPERNOVA Phase I/III trial to investigate the safety and efficacy of a next-generation long-acting antibody (LAAB) in COVID-19 pre-exposure prophylaxis in an immunocompromised population. In in vitro lab studies, the new LAAB has been shown to neutralise all SARS-CoV-2 variants tested to date, including variants that have proved resistant to other monoclonal antibodies.3 AstraZeneca is aiming to make the new LAAB available in the second half of 2023, subject to trial readouts and regulatory reviews. + + + About 2% of the global population is considered at increased risk of an inadequate response to COVID-19 vaccination and could benefit from monoclonal antibodies for COVID-19 protection.4,5 + + +Notes + + +Evusheld +Evusheld is a combination of two long-acting antibodies - tixagevimab (AZD8895) and cilgavimab (AZD1061) - derived from B-cells donated by convalescent patients after SARS-CoV-2 infection. Discovered by Vanderbilt University Medical Center and licensed to AstraZeneca in June 2020, the human monoclonal antibodies bind to distinct sites on the SARS-CoV-2 spike protein6 and were optimised by AstraZeneca with half-life extension and reduction of Fc effector function and complement C1q binding.7 The half-life extension more than triples the durability of its action compared to conventional antibodies;8-10 data from the PROVENT Phase III trial show protection lasting six months.11 The reduced Fc effector function aims to minimise the risk of antibody-dependent enhancement of disease - a phenomenon in which virus-specific antibodies promote, rather than inhibit, infection and/or disease.12 + + +Evusheld is being developed with support from the US government, including federal funds from the Department of Health and Human Services; Administration for Strategic Preparedness and Response; Biomedical Advanced Research and Development Authority in partnership with the Department of Defense; Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense, under contract number W911QY-21-9-0001. + + + Under the terms of the licensing agreement with Vanderbilt, AstraZeneca will pay single-digit royalties on future net sales. + + +AstraZeneca +AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca. + + +Contacts +For details on how to contact the Investor Relations Team, please click here. For Media contacts, click here. + + + + +References + + + + 1. US Food and Drug Administration Fact Sheet for Healthcare Providers: Emergency Use Authorization for EvusheldTM (Tixagevimab Co-Packaged with Cilgavimab). https://www.fda.gov/media/154701/download [Last accessed: January 2023] + + + 2. Centers for Disease Control and Prevention CDC COVID Data Tracker: Variant Proportions. https://covid.cdc.gov/covid-data-tracker/#variant-proportions [Last accessed: January 2023] + + + 3. AstraZeneca Data on File - REF-173560 + + + 4. Harpaz R, et al. Prevalence of Immunosuppression Among US Adults, 2013. JAMA. 2016;316(23):2547-2548. doi:10.1001/JAMA.2016.16477 + + + 5. AstraZeneca Data on File - REF-129335 + + + 6. Dong J, et al. Genetic and Structural Basis for SARS-CoV-2 Variant Neutralization by a Two-Antibody Cocktail. Nat Microbiol. 2021;6(10):1233-1244 + + + 7. Loo YM, et al. AZD7442 Demonstrates Prophylactic and Therapeutic Efficacy in Non-Human Primates and Extended Half-Life in Humans. Sci Transl Med . 2022;14(635):eabl8124 + + + 8. Robbie GJ, et al. A Novel Investigational Fc-Modified Humanized Monoclonal Antibody, Motavizumab-YTE, Has an Extended Half-Life in Healthy Adults. Antimicrob Agents Chemother. 2013;57(12):6147-6153 + + + 9. Griffin MP, et al. Safety, Tolerability, and Pharmacokinetics of MEDI8897, the Respiratory Syncytial Virus Prefusion F-Targeting Monoclonal Antibody with an Extended Half-Life, in Healthy Adults. Antimicrob Agents Chemother. 2017;61(3) + + + 10. Domachowske, JB et al. Safety, Tolerability and Pharmacokinetics of MEDI8897, an Extended Half-Life Single-Dose Respiratory Syncytial Virus Prefusion F-Targeting Monoclonal Antibody Administered as a Single Dose to Healthy Preterm Infants. Pediatr Infect Dis J. 2018;37(9):886-892 + + + 11. Levin MJ, et al. Intramuscular AZD7442 (Tixagevimab-Cilgavimab) for Prevention of Covid-19. N Engl J Med. 2022;386(23):2188-2200 + + + 12. van Erp EA, et al. Fc-Mediated Antibody Effector Functions During Respiratory Syncytial Virus Infection and Disease. Front Immunol. 2019;10(MAR) + + + + + +Adrian Kemp + Company Secretary + AstraZeneca PLC + + + + + + tags + + + + Corporate and financial + + + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +AstraZeneca plc published this content on 26 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2023 18:22:52 UTC. + + diff --git a/news/AZN/2023.01.26/Enhertu approved in the EU as the first HER2-directed therapy for patients with HER2-lo...txt b/news/AZN/2023.01.26/Enhertu approved in the EU as the first HER2-directed therapy for patients with HER2-lo...txt new file mode 100644 index 0000000000000000000000000000000000000000..15e2208698767ef9fc15dbcaec330426449d0a7d --- /dev/null +++ b/news/AZN/2023.01.26/Enhertu approved in the EU as the first HER2-directed therapy for patients with HER2-lo...txt @@ -0,0 +1 @@ +Approval based on DESTINY-Breast04 results where AstraZeneca and Daiichi Sankyo's Enhertu reduced the risk of disease progression or death by 50% and increased overall survival by more than 6 months vs. chemotherapyAstraZeneca and Daiichi Sankyo's Enhertu (trastuzumab deruxtecan) has been approved in the European Union (EU) as monotherapy for the treatment of adult patients with unresectable or metastatic HER2-low (IHC 1+ or IHC 2+/ISH-) breast cancer who have received prior chemotherapy in the metastatic setting or developed disease recurrence during or within six months of completing adjuvant chemotherapy.Enhertu is a specifically engineered HER2-directed antibody drug conjugate (ADC) being jointly developed and commercialised by AstraZeneca and Daiichi Sankyo.The approval by the European Commission follows the positive opinion of the Committee for Medicinal Products for Human Use and is based on results from the DESTINY-Breast04 Phase III trial, which were presented at the American Society of Clinical Oncology 2022 Annual Meeting and published in The New England Journal of Medicine.1In the trial, Enhertu significantly reduced the risk of disease progression or death by 50% versus physician's choice of chemotherapy (based on a hazard ratio [HR] of 0.50; 95% confidence interval [CI]: 0.40-0.63; p.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.01.26/U.S. FDA pulls authorization for AstraZeneca's COVID-19 treatment Evusheld.txt b/news/AZN/2023.01.26/U.S. FDA pulls authorization for AstraZeneca's COVID-19 treatment Evusheld.txt new file mode 100644 index 0000000000000000000000000000000000000000..2560d448cbbc54746bf062c53a0bdf439d180e23 --- /dev/null +++ b/news/AZN/2023.01.26/U.S. FDA pulls authorization for AstraZeneca's COVID-19 treatment Evusheld.txt @@ -0,0 +1 @@ +The Food and Drug Administration (FDA) had limited Evusheld's use earlier this month for the same reason and the agency's Thursday announcement sent U.S. shares of London-based AstraZeneca down 1.31% to $65.75.Omicron subvariant XBB.1.5 has been spreading rapidly in the country since December and it made up nearly half of all U.S. COVID-19 cases last week, according to government data.The FDA's decision resonates with concerns raised by the European health regulator about the effectiveness of monoclonal antibodies such as Evusheld against newer variants.AstraZeneca said it was informed that the agency will decide about reinstating authorization of Evusheld if the prevalence of resistant variants in the United States decreases to 90% or less on a sustained basis. The drugmaker plans to continue to share relevant data with the FDA and other health authorities regarding Evusheld and SARS-CoV-2 variants. Monoclonal antibodies act by binding to the spike protein on the surface of the SARS-CoV-2 virus, but the virus has been evolving, causing changes in this protein and affecting how the antibodies work against them.In November, the U.S. health regulator also pulled emergency use authorization for Eli Lilly and Co's COVID-19 drug bebtelovimab, citing similar concerns.Evusheld was first authorized in late 2021 by the FDA to prevent COVID-19 infections in individuals with weak immune systems or a history of severe side effects from coronavirus vaccines. (Reporting by Bhanvi Satija and Khushi Mandowara in Bengaluru; Editing by Shailesh Kuber and Devika Syamnath) \ No newline at end of file diff --git a/news/AZN/2023.01.26/U.S. FDA withdraws authorization for AstraZeneca's Evusheld .txt b/news/AZN/2023.01.26/U.S. FDA withdraws authorization for AstraZeneca's Evusheld .txt new file mode 100644 index 0000000000000000000000000000000000000000..a740418366c1cdaffbc11d4537627dc2114fc943 --- /dev/null +++ b/news/AZN/2023.01.26/U.S. FDA withdraws authorization for AstraZeneca's Evusheld .txt @@ -0,0 +1,5 @@ +Jan 26 (Reuters) - The U.S. Food and Drug Administration +said on Thursday that AstraZeneca's COVID-19 antibody +cocktail Evusheld is not currently authorized for use in the +United States until further notice by the agency. +(Reporting by Bhanvi Satija in Bengaluru) \ No newline at end of file diff --git a/news/AZN/2023.01.30/Daiichi begins Tropion-Lung07 phase 3 trial for lung cancer treatment.txt b/news/AZN/2023.01.30/Daiichi begins Tropion-Lung07 phase 3 trial for lung cancer treatment.txt new file mode 100644 index 0000000000000000000000000000000000000000..9dea231355795fff2ae91cdf634e5f6121bf317b --- /dev/null +++ b/news/AZN/2023.01.30/Daiichi begins Tropion-Lung07 phase 3 trial for lung cancer treatment.txt @@ -0,0 +1 @@ +(Alliance News) - Daiichi Sankyo Co Ltd on Monday said the first patient has been dosed in its Tropion-Lung07 phase 3 trial, which is evaluating a combination of treatments for patients with metastatic non-small cell lung cancer.The Tokyo-based pharmaceutical company said the trial would specifically evaluate datopotamab deruxtecan (Dato-DXd), in combination with pembrolizumab with or without platinum chemotherapy, in patients with previously untreated advanced or metastatic non-squamous NSCLC.Datopotamab deruxtecan is a specifically engineered antibody drug conjugate being jointly developed by Daiichi and AstraZeneca PLC.Nearly half of those with NSCLC are diagnosed at an advanced stage and generally have a poor prognosis, Daiichi said."Metastatic non-squamous non-small cell lung cancer remains a challenge because the majority of patients experience disease progression following their initial treatment, underscoring the need for more effective treatment optionsin the first-line setting," said Mark Rutstein, managing director and global head of oncology clinical development at Daiichi. "The TROPION-Lung07 trial will assess the potential of the combination of datopotamab deruxtecan and pembrolizumab with and without chemotherapy, to evaluate whether this combination may be a more effective standard treatment option than the current standard of care for patients in the first-line setting." Cristian Massacesi, managing director, chief medical officer and oncology chief development officer at AstraZeneca, added: "The combination of datopotamab deruxtecan with a checkpoint inhibitor with orwithout chemotherapy, has shown increased activity and a manageable safety profile in early trials, including TROPION-Lung02."TROPION-Lung07 is the third clinical trial collaboration and supply agreement between Daiichi Sankyoand AstraZeneca alongside a subsidiary of Merck & Co Inc subsidiary to evaluate the combination ofdatopotamab deruxtecan and pembrolizumab. Previous clinical trial collaboration agreements were entered in October 2021 for the TROPION-Lung08 phase 3 trial and in May 2020 for the TROPION-Lung02 phase 1b trial. Shares in Daiichi were down 1.4% to JPY4,274.00 each in Tokyo on Monday afternoon, up 0.6% to 10,690.00 pence per AstraZeneca share in London and up 0.7% to USD106.11 per Merck share in New York on Monday morning.By Greg Rosenvinge, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.01.30/Drugmakers prevail in dispute over U.S. discount drug program.txt b/news/AZN/2023.01.30/Drugmakers prevail in dispute over U.S. discount drug program.txt new file mode 100644 index 0000000000000000000000000000000000000000..bfd3e58aa66cfc5e120eb94f72af02b5f54ab2c9 --- /dev/null +++ b/news/AZN/2023.01.30/Drugmakers prevail in dispute over U.S. discount drug program.txt @@ -0,0 +1 @@ +The ruling from a three-judge panel of the 3rd U.S. Circuit Court of Appeals based in Philadelphia is a victory for Sanofi SA, Novo Nordisk AS and AstraZeneca PLc. The companies had sued the U.S. Department of Health and Human Services (HHS) after it ordered them to stop restricting sales of discounted drugs to so-called contract pharmacies.Spokespersons for Sanofi and AstraZeneca said the companies were pleased with the decision. HHS and Novo Nordisk did not immediately respond to requests for comment.The case centers on the federal 340B program, in which drugmakers provide discounts to eligible healthcare providers that serve low-income populations. Drugmakers are required to participate in the 340B program in order to receive funds from government health insurance programs like Medicare and Medicaid.Many providers eligible for the program do not have in-house pharmacies, and so contract with outside pharmacies. In 2010, HHS issued new guidance stating that 340B providers could use an unlimited number of contract pharmacies, replacing previous guidance that they could use only one such pharmacy.In 2020, drugmakers began limiting 340B drug sales to contract pharmacies. They said such pharmacies had become overused, leading to illegal diversion of drugs and, in some cases, to the drugmakers providing double discounts on the same drug.Sanofi, Novo Nordisk and AstraZeneca all continued to allow 340B providers without in-house pharmacies to use a single contract pharmacy. Sanofi and Novo Nordisk also allowed the use of multiple pharmacies in some cases.HHS ordered them to stop, saying the new policies were not allowed under the 340B program. But 3rd Circuit Judge Stephanos Bibas said Monday that the federal law behind the program did not say anything about contract pharmacies."Legal duties do not spring from silence," he wrote.The ruling reverses an order from a federal judge in New Jersey against Sanofi and Novo Nordisk, while upholding an order from a Delaware judge in favor of AstraZeneca. (Reporting By Brendan Pierson in New York, Editing by Alexia Garamfalvi and Jonathan Oatis)By Brendan Pierson \ No newline at end of file diff --git a/news/AZN/2023.01.31/ASTRAZENECA : Gets a Buy rating from JP Morgan.txt b/news/AZN/2023.01.31/ASTRAZENECA : Gets a Buy rating from JP Morgan.txt new file mode 100644 index 0000000000000000000000000000000000000000..ed826563f2b01341d1ef5ec9ca71f89b89db444e --- /dev/null +++ b/news/AZN/2023.01.31/ASTRAZENECA : Gets a Buy rating from JP Morgan.txt @@ -0,0 +1 @@ +In a research note published by James Gordon, JP Morgan advises its customers to buy the stock. The target price is unchanged and still at GBX 13500. \ No newline at end of file diff --git a/news/AZN/2023.01.31/European shares drop as focus shifts to cenbank meetings.txt b/news/AZN/2023.01.31/European shares drop as focus shifts to cenbank meetings.txt new file mode 100644 index 0000000000000000000000000000000000000000..56635c70b927ae078530bf81d2d9384893e1b19f --- /dev/null +++ b/news/AZN/2023.01.31/European shares drop as focus shifts to cenbank meetings.txt @@ -0,0 +1 @@ +The pan-European STOXX 600 was down 0.2% at 0816 GMT, but on track to end January on a positive note, buoyed by hopes of better-than-feared corporate earnings and economic resilience. Rheinmetall AG, which dropped 5% following the launch of a convertible bond offering, was the biggest drag among industrials, while Novo Nordisk AS and AstraZeneca PLc pulled down the healthcare sector.UniCredit jumped 8.1% to the top of STOXX 600 after the Italian lender pledged to return 5.25 billion euros ($5.69 billion) to investors based on its 2022 results, after posting its best profit in more than a decade.Shares of UBS Group AG fell 2.6% after the world's largest wealth manager predicted an "uncertain" year ahead.The U.S. Federal Reserve will kick-off its two-day meet on Tuesday and is widely expected to raise its policy rate by 25 basis points to 4.50%-4.75%. Meanwhile, the European Central Bank and the Bank of England are seen raising rates by 50 bps each to 2.50% and 4%, respectively, on Thursday. (Reporting by Ankika Biswas in Bengaluru; Editing by Sherry Jacob-Phillips) \ No newline at end of file diff --git a/news/AZN/2023.01.31/Marketmind: Mind the gap.txt b/news/AZN/2023.01.31/Marketmind: Mind the gap.txt new file mode 100644 index 0000000000000000000000000000000000000000..6dff127207bf1b43d6f1fdc1d7906c8c6a46ae29 --- /dev/null +++ b/news/AZN/2023.01.31/Marketmind: Mind the gap.txt @@ -0,0 +1 @@ +An impressive 6% rally in global stocks this month, the first gain in January after three years, has got investors all excited after a dismal 2022.Fundamentally, prospects for the world economy are not as bad as feared just a few months ago, prompting the International Monetary Fund to raise its 2023 global growth outlook slightly.The IMF cited "surprisingly resilient" demand in the United States and Europe, easing of energy costs and the reopening of China's economy.Still, it would be wise for investors to be mindful of a gap between expectations and reality.On Monday, hotter-than-expected inflation data from Spain and an unexpected decline in the German economy in the fourth quarter created uneasiness for stock bulls, dragging down European shares.Asian equities fell 1% on Tuesday and the dollar was eyeing a fourth monthly loss as investors reckon a peak in U.S. interest rates could swing into view as soon as this week's Federal Reserve meeting.Flash GDP numbers are due from the euro zone, along with growth data for France and Italy. The numbers are likely to be keenly watched for signs on how weary economies are faring.The ECB is all but certain to raise rates by half a percentage point on Thursday but fresh inflation data is still crucial for the central bank's policy guidance for subsequent meetings.The Bank of England is set to raise rates by 50 bps to 4.0%, respectively. Headline inflation moderated in December to 10.5%, but it's still over five times its official target.Money market bets show that the U.S. Federal Reserve is set to raise its policy rate by 25 basis points to 4.50%-4.75% on Wednesday.Adding to pressure on British finance minister Jeremy Hunt to come up with a growth plan, the country became the only Group of Seven nation to suffer a cut to its 2023 economic growth outlook in IMF forecasts published on Tuesday.Britain's flagging economy now appears set to shrink by 0.6% this year, a sharp downgrade from previously expected growth of 0.3% in the IMF's last forecast in October.Meanwhile, a U.S. federal appeals court ruled on Monday that drug manufacturers can limit healthcare providers' use of outside pharmacies for dispensing drugs under a federal drug discount programme, marking a victory for Sanofi, Novo Nordisk and AstraZeneca.Finally, there's good news for tech staff. With thousands of layoffs taking place in Silicon Valley, some German companies, faced with a tight labour market and a shortage of workers with key software engineering skills, are seizing on the West Coast's woes as an opportunity to recruit top talent.Key developments that could influence markets on Tuesday:Economic data: Euro zone Q4 flash GDP; France Q4 GDP, Jan CPI flash; Germany Dec import prices, retail sales, flash CPI; Italy preliminary Q4 GDPSpeakers: Swedish central bank governor Erik Thedeen participates in an open hearing on financial stability in the Swedish economy in StockholmEuropean results: UBS, SwedbankU.S. economic data: Q4 employment wages, Q4 Nov house prices U.S. Federal Reserve begins two-day meetingU.S. results: Exxon Mobil, Caterpillar, General Motors, Pfizer, McDonald's, UPS (Reporting by Anshuman Daga; Editing by Jacqueline Wong) \ No newline at end of file diff --git a/news/AZN/2023.02.01/ASTRAZENECA : JP Morgan remains its Buy rating.txt b/news/AZN/2023.02.01/ASTRAZENECA : JP Morgan remains its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..500914afdc84f86fe8f017c32c78156daaa935e0 --- /dev/null +++ b/news/AZN/2023.02.01/ASTRAZENECA : JP Morgan remains its Buy rating.txt @@ -0,0 +1 @@ +In a research note published by James Gordon, JP Morgan advises its customers to buy the stock. The target price remains set at GBX 13500. \ No newline at end of file diff --git a/news/AZN/2023.02.01/Analysis-GSK gives few clues on plans to replenish medicine cabinet.txt b/news/AZN/2023.02.01/Analysis-GSK gives few clues on plans to replenish medicine cabinet.txt new file mode 100644 index 0000000000000000000000000000000000000000..8db612f8fd9da340bb8ebed94b57b445b702b061 --- /dev/null +++ b/news/AZN/2023.02.01/Analysis-GSK gives few clues on plans to replenish medicine cabinet.txt @@ -0,0 +1 @@ +But analysts were disappointed she did not give more details on how she and her management team plan to find the company's next set of blockbuster drugs. The current pipeline will sustain growth through the end of this decade and beyond, Walmsley said on a call after the world's biggest vaccine maker reported stronger than expected fourth-quarter results.But analysts say there is not enough in the medicine cabinet to keep the momentum going even beyond the next few years.Investors were particularly keen to hear about the pipeline strategy after GKS spun off Haleon, its consumer health products business, which makes Sensodyne toothpaste and other staples last July, providing cash to supplement its drugs pipeline.GSK largely missed out on the lucrative market for COVID-19 vaccines, but has had a string of strong quarters after years of underperformance relative to its peers. Fourth-quarter results were boosted by sales of its HIV drugs and its blockbuster shingles vaccine Shingrix.But after an early burst higher, GSK's shares on London's blue-chip FTSE 100 ended down 0.2%. "We didn't really learn a lot new today in terms of their efforts to broaden out the pipeline," said Barclays analyst Emily Field.The loss of patent protection by 2027 for dolutegravir, the compound that forms part of four GSK's HIV treatments, is a particular concern because this puts more than 5 billion pounds ($6.2 billion) of sales at risk, Sebastian Skeet, healthcare analyst at research firm Third Bridge.Among a handful of prospects, GSK is leaning primarily on its vaccine targeted at the respiratory syncytial virus (RSV), which causes thousands of hospitalisations and deaths each year, to least partially offset that loss.It has been submitted for regulatory review in the United States, European Union and Japan.  But with rivals Pfizer and Moderna also competing for a slice of the estimated $10 billion market, some analysts expect GSK may end up with only a portion of that, Skeet told Reuters."The implication, therefore, is that there is still ground to make up," he said.The company has announced some acquisitions, including a deal to buy U.S.-based Sierra Oncology in 2022, but it has culled a handful of programmes from its pipeline, including abandoning a cancer-focused pact and the field of cell and gene therapy altogether.GSK has also suffered setbacks in its marketed cancer drug portfolio in recent months. Meanwhile, analysts say the market for Shingrix will eventually become saturated, further limiting the company's growth prospects. R&D SPEND GSK's spending on R&D has long lagged behind its peers, something activist investor Elliott highlighted in a 2021 letter pressuring the company to make sweeping changes. The company has begun to close the gap somewhat, spending just over 5 billion pounds ($6.2 billion) on R&D in 2022, but is still behind rivals Roche, AstraZeneca and Pfizer, said Andrew McConaghie, senior healthcare analyst at Citeline.GSK's top scientists say they are working on doubling its R&D productivity from the industry standard of 10% to 20%, or taking 2 in 10 drugs all the way from early trials to market, with the help of technologies like artificial intelligence. Some investors and industry experts say there is still time for the company to turn its drug pipeline around.Lucy Coutts, investment director at wealth management firm JM Finn, which holds GSK shares, there is hope the company will eventually deliver a streamlined and specialist portfolio of blockbuster drugs.But until that happens, the stock may remain under pressure."There is little visibility on that for investors at this stage," she said.($1 = 0.8107 pounds) (Reporting by Natalie Grover and Maggie Fick in London. Editing by Jane Merriman)By Natalie Grover and Maggie Fick \ No newline at end of file diff --git a/news/AZN/2023.02.01/Astrazeneca : Transparency Directive - Form 6-K.txt b/news/AZN/2023.02.01/Astrazeneca : Transparency Directive - Form 6-K.txt new file mode 100644 index 0000000000000000000000000000000000000000..9615d39400f3e46a627c59a6003d3d387dff92a5 --- /dev/null +++ b/news/AZN/2023.02.01/Astrazeneca : Transparency Directive - Form 6-K.txt @@ -0,0 +1,52 @@ + + + Transparency Directive + + + Voting rights and capital + + + The following notification is made in accordance with the UK Financial Conduct Authority's Disclosure and Transparency Rule 5.6.1. As at 31 January 2023 the issued share capital of AstraZeneca PLC with voting rights is 1,549,818,422 ordinary shares of US$0.25. No shares are held in Treasury. Therefore, the total number of voting rights in AstraZeneca PLC is 1,549,818,422. + + + The above figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, AstraZeneca PLC under the UK Financial Conduct Authority's Disclosure and Transparency Rules. + + + AstraZeneca + + + AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca. + + + Contacts + + + For details on how to contact the Investor Relations Team, please click here. For Media contacts, click here. + + + Adrian Kemp + + + Company Secretary + + + AstraZeneca PLC + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +AstraZeneca plc published this content on 01 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2023 16:27:03 UTC. + + diff --git a/news/AZN/2023.02.01/Novartis says operating profit to grow again ahead of Sandoz spin-off.txt b/news/AZN/2023.02.01/Novartis says operating profit to grow again ahead of Sandoz spin-off.txt new file mode 100644 index 0000000000000000000000000000000000000000..d3553afc1bb45cb4ad5535dc7a9c7f7b56ab6227 --- /dev/null +++ b/news/AZN/2023.02.01/Novartis says operating profit to grow again ahead of Sandoz spin-off.txt @@ -0,0 +1,31 @@ +*FY operating income flat, slightly below expectations*Co on track to spin off generic business Sandoz in H2*Market pinning hopes on breast cancer, blood disorder +therapies*Shares fall on 'disappointing' Sandoz outlookBASEL, Feb 1 (Reuters) - Novartis on Wednesday +predicted that core operating income would grow in a "mid single +digit" percentage range in 2023 following stagnation last year, +as the Swiss drugmaker prepares to spin off its Sandoz generics +business.Full-year core operating income was broadly flat at $16.7 +billion, it said in a statement, coming in slightly below market +expectations of $16.8 billion.Adjusted for overall negative currency effects, group sales +in 2022 advanced 4% to $50.5 billion as gains from heart failure +drug Entresto and multiple sclerosis (MS) drug Kesimpta were +partly offset by competition from cheap generic copies of +established MS drug Gilenya.Novartis said it was on track to spin off its generics unit +Sandoz in the second half of the year as part of its effort to +sharpen its focus on its patented prescription medicines.Analysts have welcomed a program unveiled in 2022 to trim +costs and cut 8,000 jobs and plans to focus on fewer therapy +areas and drug technologies. But the market has been +underwhelmed by prospects for medium-term growth from new drugs.Novartis shares were down 1.3% in early trade on +Wednesday and have fallen about 11% since January 2020, +underperforming most rivals.Credit Suisse analysts said that best-selling psoriasis +and arthritis drug Cosentyx fell short of estimates as the +company cited retroactive price cuts under the U.S. Medicaid +program for low-income households.They were also disappointed by guidance for Sandoz's +core operating income to decline by a "low double digit" +percentage in 2023 due to cost inflation and investments to make +it a stand-alone entity.The market has been pinning hopes for future sales growth on +wider use of breast cancer drug Kisqali and iptacopan, which is +being tested against a rare genetic blood disorder, possibly +challenging AstraZeneca's drugs Soliris and Ultomiris.MS drug Kesimpta, which requires fewer injections than +standard therapies, is expected to become Novartis' second +largest growth driver in 2023, after Entresto.(Reporting by Ludwig Burger; editing by Josephine Mason and +Jason Neely) \ No newline at end of file diff --git a/news/AZN/2023.02.01/U.S. FDA approves GSK's anemia drug for patients on dialysis.txt b/news/AZN/2023.02.01/U.S. FDA approves GSK's anemia drug for patients on dialysis.txt new file mode 100644 index 0000000000000000000000000000000000000000..b5ceeaba9eeabb996e6d2cf659efa31fc4bf420e --- /dev/null +++ b/news/AZN/2023.02.01/U.S. FDA approves GSK's anemia drug for patients on dialysis.txt @@ -0,0 +1,28 @@ +Feb 1 (Reuters) - The U.S. Food and Drug Administration +(FDA) on Wednesday approved GSK Plc's drug as the first +oral treatment for anemia caused by chronic kidney disease in +adults who have been on dialysis for at least four months.The drug Jesduvroq comes with the boxed warning for +increased thrombotic vascular events, including death, heart +attack, stroke, and blood clots in the lungs, legs, or dialysis +access site. The warnings and precautions also include a risk of +hospitalization for heart failure, worsening increase of blood +pressure, stomach erosions, and gastrointestinal bleeding.The treatment is not approved for patients who are not on +dialysis because its safety has not been established in that +population, the FDA said.The approval makes it GSK's first since the company spun-off +its consumer health business — home to Sensodyne toothpaste and +Advil pain killers — last year.The health agency's decision also comes after its advisory +committee recommended the treatment for some kidney patients in +October.The wholesale acquisition cost has not yet been set for +Jesduvroq, GSK told Reuters. "As 87% of dialysis patients are on +Medicare, we are in the process of submitting the required +documentation with Centers for Medicare & Medicaid Services +(CMS) to help ensure timely reimbursement and patient access to +Jesduvroq."This is the first drug in the HIF-PH inhibitor class to win +U.S. FDA approval, as similar drugs developed by FibroGen +and AstraZeneca, and Akebia Therapeutics +have failed to secure the regulator's nod earlier.HIF-PH inhibitors are a class of oral drugs designed to +boost production of red blood cells by mimicking the body's +response at high altitudes, where a lack of oxygen leads to +increase in red cell numbers and hemoglobin concentration. +(Reporting by Khushi Mandowara and Sriparna Roy in Bengaluru; +Editing by Shailesh Kuber, Anil D'Silva, and Uttaresh.V) \ No newline at end of file diff --git a/news/AZN/2023.02.02/AstraZeneca's, Amgen's Tezspire pre-filled pen wins approval.txt b/news/AZN/2023.02.02/AstraZeneca's, Amgen's Tezspire pre-filled pen wins approval.txt new file mode 100644 index 0000000000000000000000000000000000000000..18f487e88d9f4da4769eaff86869ca5c7e457363 --- /dev/null +++ b/news/AZN/2023.02.02/AstraZeneca's, Amgen's Tezspire pre-filled pen wins approval.txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC and Amgen Inc on Thursday said their severe asthma drug Tezspire has been approved in the form of a pre-filled pen by the US Food & Drug Administration for self-administration for people aged 12 and over.Cambridge, England-based pharmaceutical company AstraZeneca and California-based biotechnology company Amgen said Tezspire is the "first and only respiratory biologic without phenotype or biomarker limitations that offers the choice of administration at home or in a doctor's office." Biologics are drugs that slow or stop inflammation. The companies cite a phase III trial that showed that 92% of healthcare providers, patients and caregivers were able to successfully inject Tezspire in a clinical and a home setting. Kenneth Mendez, President & Chief Executive Officer of the Asthma & Allergy Foundation of America, said: "Severe asthma continues to be a very complex condition to manage, so we welcome the Tezspire pre-filled pen as an option that will empower patients and healthcare providers with increased choice. We believe self-administration alternatives can play an important role in patients' lives and address unmet needs for those living with severe asthma."AstraZeneca shares were virtually unchanged at 10,284.00 pence each in London on Thursday afternoon, while Amgen shares were down 4.0% at USD236.64 in New York.By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git "a/news/AZN/2023.02.02/TEZSPIRE\302\256 approved for self-administration in the US with a new pre-filled pen.txt" "b/news/AZN/2023.02.02/TEZSPIRE\302\256 approved for self-administration in the US with a new pre-filled pen.txt" new file mode 100644 index 0000000000000000000000000000000000000000..5e456e4a0914753f055877c4a32ba51762214542 --- /dev/null +++ "b/news/AZN/2023.02.02/TEZSPIRE\302\256 approved for self-administration in the US with a new pre-filled pen.txt" @@ -0,0 +1,103 @@ + +AstraZeneca and Amgen’s TEZSPIRE® (tezepelumab-ekko) has been approved in the US for self-administration in a pre-filled, single-use pen for patients aged 12 years and older with severe asthma. TEZSPIRE is the only biologic approved for severe asthma with no phenotype (e.g. eosinophilic or allergic) or biomarker limitation within its approved label.1 + +The approval by the US Food and Drug Administration (FDA) was based on results from the PATHFINDER clinical trial program, which included results from the PATH-BRIDGE Phase I trial and the PATH-HOME Phase III trial.2,3 The majority (92%) of healthcare providers, patients and caregivers were able to successfully administer TEZSPIRE both in the clinic and at home throughout the PATH-HOME trial.3 The improvements in asthma control and the safety profile of TEZSPIRE observed in the PATH-HOME trial were consistent with previous clinical trials.3 + +Kenneth Mendez, President and CEO of the Asthma and Allergy Foundation of America, said: “Severe asthma continues to be a very complex condition to manage, so we welcome the TEZSPIRE pre-filled pen as an option that will empower patients and healthcare providers with increased choice. We believe self-administration alternatives can play an important role in patients’ lives and address unmet needs for those living with severe asthma.” + +Ruud Dobber, Executive Vice President and President, BioPharmaceuticals Business Unit, AstraZeneca, said: “TEZSPIRE is the first and only biologic approved for patients with severe asthma with no phenotype or biomarker limitation within its approved label. With the approval of the pre-filled pen in the US, we can now offer greater flexibility to patients and physicians with the option to administer TEZSPIRE at home or in the clinic.” + +TEZSPIRE self-administration and the TEZSPIRE pre-filled pen are also approved in the European Union (EU) and are under regulatory review in several other countries around the world. TEZSPIRE is currently approved for the treatment of severe asthma in the US, EU, Japan and other countries.4-6 + +TEZSPIRE® (tezepelumab-ekko) Important Safety Information + +CONTRAINDICATIONS + +Known hypersensitivity to tezepelumab-ekko or excipients. + +WARNINGS AND PRECAUTIONS + +Hypersensitivity Reactions + +Hypersensitivity reactions were observed in the clinical trials (eg, rash and allergic conjunctivitis) following the administration of TEZSPIRE. Postmarketing cases of anaphylaxis have been reported. These reactions can occur within hours of administration, but in some instances have a delayed onset (ie, days). In the event of a hypersensitivity reaction, consider the benefits and risks for the individual patient to determine whether to continue or discontinue treatment with TEZSPIRE. + +Acute Asthma Symptoms or Deteriorating Disease + +TEZSPIRE should not be used to treat acute asthma symptoms, acute exacerbations, acute bronchospasm, or status asthmaticus. + +Abrupt Reduction of Corticosteroid Dosage + +Do not discontinue systemic or inhaled corticosteroids abruptly upon initiation of therapy with TEZSPIRE. Reductions in corticosteroid dose, if appropriate, should be gradual and performed under the direct supervision of a physician. Reduction in corticosteroid dose may be associated with systemic withdrawal symptoms and/or unmask conditions previously suppressed by systemic corticosteroid therapy. + +Parasitic (Helminth) Infection + +It is unknown if TEZSPIRE will influence a patient’s response against helminth infections. Treat patients with pre-existing helminth infections before initiating therapy with TEZSPIRE. If patients become infected while receiving TEZSPIRE and do not respond to anti-helminth treatment, discontinue TEZSPIRE until infection resolves. + +Live Attenuated Vaccines + +The concomitant use of TEZSPIRE and live attenuated vaccines has not been evaluated. The use of live attenuated vaccines should be avoided in patients receiving TEZSPIRE. + +ADVERSE REACTIONS + +The most common adverse reactions (incidence ≥3%) are pharyngitis, arthralgia, and back pain. + +USE IN SPECIFIC POPULATIONS + +There are no available data on TEZSPIRE use in pregnant women to evaluate for any drug-associated risk of major birth defects, miscarriage, or other adverse maternal or fetal outcomes. Placental transfer of monoclonal antibodies such as tezepelumab-ekko is greater during the third trimester of pregnancy; therefore, potential effects on a fetus are likely to be greater during the third trimester of pregnancy. + +INDICATION + +TEZSPIRE is indicated for the add-on maintenance treatment of adult and pediatric patients aged 12 years and older with severe asthma. + +TEZSPIRE is not indicated for the relief of acute bronchospasm or status asthmaticus. + +Full Prescribing Information including Patient Information and Instructions for Use. + +You may report side effects related to AstraZeneca products by clicking here. + +Notes + +TEZSPIRE® pre-filled pen + +TEZSPIRE will be available as a fixed-dose 210mg subcutaneous injection via a pre-filled, single-use auto-injector (the TEZSPIRE pre-filled pen) or via a pre-filled, single-use syringe (the TEZSPIRE pre-filled syringe). Both are administered every four weeks. + +The TEZSPIRE pre-filled pen enables patients and caregivers to self-administer the medicine at home or in clinic via a simple process. The device is fitted with a safety guard and viewing window and has audible clicks at the start and end of the injection to guide patients. + +Clinical trials + +PATH-HOME was a Phase III multi-center, open-label, parallel-group trial designed to assess patient, caregiver and healthcare provider-reported functionality and performance of a single-use, pre-filled syringe (PFS) or auto-injector (AI) with a fixed 210mg dose of TEZSPIRE administered subcutaneously every four weeks in a clinic and in an at-home setting in 216 patients aged 12 years and older with severe asthma.3 + +The majority (92%) of healthcare providers, patients and caregivers were able to successfully administer the TEZSPIRE pre-filled pen both in the clinic and at home throughout the trial.3 At-home administration of the TEZSPIRE pre-filled pen at weeks 12 and 16 was successful in 97% of the patients or caregivers (102/105).3 The trial also demonstrated for the first time that adolescents can successfully administer TEZSPIRE using the two devices.3 The very low proportion of device malfunctions (0.9% of PFS and 0.8% of AIs) provides support that the instructions for use provided to healthcare providers, patients and caregivers is adequate for successful subcutaneous administration of TEZSPIRE both in the clinic and at home.3 + +PATH-BRIDGE was a single-center, randomized, open-label, parallel-group Phase I trial in healthy people to compare the pharmacokinetic (PK) exposure following a single 210mg dose of TEZSPIRE by using a vial-and-syringe (V-S), PFS or pre-filled AI device.2 TEZSPIRE PK exposure was comparable following subcutaneous administration via V-S, PFS or AI.2 In addition, injection site-pain was low in severity and injection-site reactions were uncommon in all device groups.2 + +In addition to PATH-BRIDGE and PATH-HOME, the PATHFINDER clinical trial program included the pivotal NAVIGATOR Phase III trial in which TEZSPIRE demonstrated superiority across every primary and key secondary endpoint in patients with severe asthma, compared to placebo, when added to standard therapy.7 + +NAVIGATOR was the first Phase III trial to show benefit in severe asthma irrespective of eosinophils by targeting thymic stromal lymphopoietin (TSLP).7 These results support the FDA Breakthrough Therapy Designation granted to TEZSPIRE in September 2018 for patients with severe asthma, without an eosinophilic phenotype. In July 2021, TEZSPIRE was the first and only biologic to be granted Priority Review in the US for the treatment of asthma by the FDA. + +TEZSPIRE® + +TEZSPIRE (tezepelumab-ekko) is being developed by AstraZeneca in collaboration with Amgen as a first-in-class human monoclonal antibody that inhibits the action of TSLP, a key epithelial cytokine that sits at the top of multiple inflammatory cascades and is critical in the initiation and persistence of allergic, eosinophilic and other types of airway inflammation associated with severe asthma, including airway hyperresponsiveness.8,9 TSLP is released in response to multiple triggers associated with asthma exacerbations, including allergens, viruses and other airborne particles.8,9 Expression of TSLP is increased in the airways of patients with asthma and has been correlated with disease severity.8,10 Blocking TSLP may prevent the release of pro-inflammatory cytokines by immune cells, resulting in the prevention of asthma exacerbations and improved asthma control.7,8,10 TEZSPIRE acts at the top of the inflammation cascade and has the potential to help address a broad population of severe asthma patients irrespective of biomarker levels.7,8 + +TEZSPIRE is approved in the US, EU, Japan and other countries for the treatment of severe asthma.4-6 TEZSPIRE is also in development for other potential indications including chronic obstructive pulmonary disease (COPD), chronic rhinosinusitis with nasal polyps, chronic spontaneous urticaria and eosinophilic esophagitis (EoE). In October 2021, tezepelumab-ekko was granted Orphan Drug Designation by the FDA for the treatment of EoE. + +Amgen collaboration + +In 2020, Amgen and AstraZeneca updated a 2012 collaboration agreement for TEZSPIRE. Both companies will continue to share costs and profits equally after payment by AstraZeneca of a mid single-digit inventor royalty to Amgen. AstraZeneca continues to lead development and Amgen continues to lead manufacturing. All aspects of the collaboration are under the oversight of joint governing bodies. Under the amended agreement, Amgen and AstraZeneca will jointly commercialize TEZSPIRE in North America. Amgen will record product sales in the US, with AZ recording its share of US profits as Collaboration Revenue. Outside of the US, AstraZeneca will record product sales, with Amgen recording profit share as Other/Collaboration revenue. + +AstraZeneca in Respiratory & Immunology + +Respiratory & Immunology, part of BioPharmaceuticals, is one of AstraZeneca’s main disease areas and is a key growth driver for the Company. + +AstraZeneca is an established leader in respiratory care with a 50-year heritage. The Company aims to transform the treatment of asthma and COPD by focusing on earlier biology-led treatment, eliminating preventable asthma attacks, and removing COPD as a top-three leading cause of death. The Company’s early respiratory research is focused on emerging science involving immune mechanisms, lung damage and abnormal cell-repair processes in disease and neuronal dysfunction. + +With common pathways and underlying disease drivers across respiratory and immunology, AstraZeneca is following the science from chronic lung diseases to immunology-driven disease areas. The Company’s growing presence in immunology is focused on five mid- to late-stage franchises with multi-disease potential, in areas including rheumatology (including systemic lupus erythematosus), dermatology, gastroenterology, and systemic eosinophilic-driven diseases. AstraZeneca’s ambition in Respiratory & Immunology is to achieve disease modification and durable remission for millions of patients worldwide. + +AstraZeneca + +AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialization of prescription medicines in Oncology, Rare Diseases and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries, and its innovative medicines are used by millions of patients worldwide. For more information, please visit www.astrazeneca-us.com and follow us on Twitter @AstraZenecaUS. + +References + +  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005369/en/ \ No newline at end of file diff --git a/news/AZN/2023.02.03/Sanofi forecasts moderate profit growth on Dupixent demand.txt b/news/AZN/2023.02.03/Sanofi forecasts moderate profit growth on Dupixent demand.txt new file mode 100644 index 0000000000000000000000000000000000000000..63b952736b32cecb1fc829ca48970ee82d37c508 --- /dev/null +++ b/news/AZN/2023.02.03/Sanofi forecasts moderate profit growth on Dupixent demand.txt @@ -0,0 +1,60 @@ +*Sees "low single digit" percentage core EPS growth, FX +adjusted*Established MS pill faces competition from cheaper +products*Shares down 3%, lowest since mid-November*CEO says Dupixent "mega-blockbuster" protected beyond 2031Feb 3 (Reuters) - Sanofi forecast moderate +earnings growth that undershot expectations, saying demand for +bestselling asthma and eczema drug Dupixent would be partly +offset by competition for its multiple sclerosis pill Aubagio +and product launch costs.The Paris-based drugmaker said on Friday it expected 2023 +adjusted earnings per share to grow by a "low single digit" +percentage, not taking into account an expected negative +currency impact of between 3.5% and 4.5%.Aubagio, with 2 billion euros ($2.2 billion) in sales last +year, will face competition from cheaper products over the next +few months after losing patent protection, Sanofi said.Sanofi shares were down 3% at 1107 GMT, having earlier +fallen as much as 5.2% to their lowest since mid-November with +JP Morgan analysts saying investors had expected a better 2023 +outlook and a more benign view on foreign exchange headwinds.The company reaffirmed its target to achieve sales of +Dupixent, jointly developed with Regeneron, of 10 +billion euros this year, up more than 20% from 8.29 billion +euros in 2022."The results today were mixed and there's still the +impression that Sanofi has a relatively weak development +pipeline," said Markus Manns, portfolio manager at Germany-based +Union Investment, which holds Sanofi stock.Sanofi shares have yet to recover from a plunge in August +following disappointing trial results of a once-promising breast +cancer drug candidate put the strength of its development +pipeline in doubt. Legal claims that heartburn drug Zantac +caused cancer have also weighed on the stock.Analysts have said that this year's expected market debut of +two new products, to balance out reliance on Dupixent, would be +important tests of the company's marketing prowess and a chance +to regain investor confidence.These products are haemophilia A treatment Altuviiio, +requiring fewer injections than standard therapy, and Beyfortus +from a partnership with AstraZeneca, which is a +preventive once-a-year shot against the common RSV airways +infection in infants.But for this year, marketing and sales expenses to boost +those launches would drag earnings lower, finance chief +Jean-Baptiste de Chatillon said in a media briefing.'HOME-GROWN INNOVATION'Chief Executive Paul Hudson pushed back when asked in a +press conference whether Sanofi was too dependant on Dupixent."When you don’t have a mega-blockbuster people say: don’t +you need a mega-blockbuster to be a success?" he said, adding +the intellectual property on the product with multiple uses was +protected beyond 2031."We understand the requirement to be ready for the 2030s and +beyond and we’d like to see more of our own home-grown +innovation accelerate," said Hudson. But he added that three to +five drug candidates with peak annual sales potential above 1 +billion euros were in the pipeline over the next six years.Sanofi reported a 20.7% rise in fourth-quarter business +operating income, or adjusted earnings before interest and tax, +to 2.72 billion euros ($2.96 billion), edging past an average +analyst estimate of 2.69 billion euros posted on the company's +website.Revenue from Dupixent surged 42% to 2.4 billion euros during +the quarter ended Dec. 31, slightly above a consensus of 2.37 +billion euros.The French drugmaker has forecast that Dupixent would +generate up to 13 billion euros in sales in its best year as it +seeks to widen its use across a number of inflammatory +conditions.Investors are expecting even more on average, partly on +hopes that the injection will also succeed in a trial on +smoker's lung, or COPD, a common disease that the company has so +far excluded from its sales target."The Altuviiio launch is expected to be relatively strong +but the market overall will for now wait for as-yet uncertain +COPD trial data on Dupixent," said mutual fund manager Manns.Analysts expect the study result to be published during the +first half. +($1 = 0.9163 euros) +(Reporting by Ludwig Burger; Editing by Rashmi Aich, Matt +Scuffham, Jane Merriman and Emelia Sithole-Matarise) \ No newline at end of file diff --git a/news/AZN/2023.02.03/Tezspire approved for self-administration in the US with a new pre-filled pen.txt b/news/AZN/2023.02.03/Tezspire approved for self-administration in the US with a new pre-filled pen.txt new file mode 100644 index 0000000000000000000000000000000000000000..bda09e06be519b54c0afc2708cbf106101ea0c01 --- /dev/null +++ b/news/AZN/2023.02.03/Tezspire approved for self-administration in the US with a new pre-filled pen.txt @@ -0,0 +1 @@ +First and only respiratory biologic without phenotype or biomarker limitations that offers the choice of administration at home or in a doctor's officeAstraZeneca and Amgen's Tezspire (tezepelumab) has been approved in the US for self-administration in a pre-filled, single-use pen for patients aged 12 years and older with severe asthma. Tezspire is the only biologic approved for severe asthma with no phenotype (e.g. eosinophilic or allergic) or biomarker limitation within its approved label.1The approval by the US Food and Drug Administration (FDA) was based on results from the PATHFINDER clinical trial programme, which included results from the PATH-BRIDGE Phase I trial and the PATH-HOME Phase III trial.2,3 The majority (92%) of healthcare providers, patients and caregivers were able to successfully administer Tezspire both in the clinic and at home throughout the PATH-HOME trial.3 The improvements in asthma control and the safety profile of Tezspire observed in the PATH-HOME trial were consistent with previous clinical trials.3Kenneth Mendez, President and CEO of the Asthma and Allergy Foundation of America, said: "Severe asthma continues to be a very complex condition to manage, so we welcome the Tezspire pre-filledpen as an option that will empower patients and healthcare providers with increased choice. We believe self-administration alternatives can play an important role in patients' lives and address unmet needs for those living with severe asthma."Ruud Dobber, Executive Vice President and President, BioPharmaceuticals Business Unit, AstraZeneca, said: "Tezspire is the first and only biologic approved for patients with severe asthma with no phenotype or biomarker limitation within its approved label. With the approval of the pre-filledpenin the US, we can now offer greater flexibility to patients and physicians with the option to administer Tezspire at home or in the clinic."Tezspire self-administration and the Tezspire pre-filled pen are also approved in the European Union (EU) and are under regulatory review in several other countries around the world. Tezspire is currently approved for the treatment of severe asthma in the US, EU, Japan and other countries.4-6NotesTezspire pre-filledpenTezspire will be available as a fixed-dose 210mg subcutaneous injection via a pre-filled, single-use auto-injector (the Tezspire pre-filled pen) or via a pre-filled, single-use syringe (the Tezspire pre-filled syringe). Both are administered every four weeks.The Tezspire pre-filledpenenables patients and caregivers to self-administer the medicine at home or in clinic via a simple process. The device is fitted with a safety guard and viewing window and has audible clicks at the start and end of the injection to guide patients.Clinical trialsPATH-HOME was a Phase III multi-centre, open-label, parallel-group trial designed to assess patient, caregiver and healthcare provider-reported functionality and performance of a single-use, pre-filled syringe (PFS) or auto-injector (AI) with a fixed 210mg dose of Tezspire administered subcutaneously every four weeksin a clinic and in an at-home setting in 216 patients aged 12 years and older with severe asthma.3The majority (92%) of healthcare providers, patients and caregivers were able to successfully administer the Tezspire pre-filled penboth in the clinic and at home throughout the trial.3 At-home administration of the Tezspire pre-filled pen at weeks 12 and 16 was successful in 97% of the patients or caregivers (102/105).3 The trial also demonstrated for the first time that adolescents can successfully administer Tezspire using the two devices.3 The very low proportion of device malfunctions (0.9% of PFS and 0.8% of AIs) provides support that the instructions for use provided to healthcare providers, patients and caregivers is adequate for successful subcutaneous administration of Tezspire both in the clinic and at home.3PATH-BRIDGE was a single-centre, randomised, open-label, parallel-group Phase I trial in healthy people to compare the pharmacokinetic (PK) exposure following a single 210mg dose of Tezspire by using a vial-and-syringe (V-S), PFS or pre-filled AI device.2 Tezspire PK exposure was comparable following subcutaneous administration via V-S, PFS or AI.2 In addition, injection site-pain was low in severity and injection-site reactions were uncommon in all device groups.2In addition to PATH-BRIDGE and PATH-HOME, the PATHFINDER clinical trial programme included the pivotal NAVIGATOR Phase III trial in which Tezspire demonstrated superiority across every primary and key secondary endpoint in patients with severe asthma, compared to placebo, when added to standard therapy.7NAVIGATOR was the first Phase III trial to show benefit in severe asthma irrespective of eosinophils by targeting thymic stromal lymphopoietin (TSLP).7 These results support the FDA Breakthrough Therapy Designation granted to Tezspire in September 2018 for patients with severe asthma, without an eosinophilic phenotype. In July 2021, Tezspire was the first and only biologic to be granted Priority Review in the US for the treatment of asthma by the FDA.TezspireTezspire (tezepelumab) is being developed by AstraZeneca in collaboration with Amgen as a first-in-class human monoclonal antibody that inhibits the action of TSLP, a key epithelial cytokine that sits at the top of multiple inflammatory cascades and is critical in the initiation and persistence of allergic, eosinophilic and other types of airway inflammation associated with severe asthma, including airway hyperresponsiveness.8,9 TSLP is released in response to multiple triggers associated with asthma exacerbations, including allergens, viruses and other airborne particles.8,9 Expression of TSLP is increased in the airways of patients with asthma and has been correlated with disease severity.8,10 Blocking TSLP may prevent the release of pro-inflammatory cytokines by immune cells, resulting in the prevention of asthma exacerbations and improved asthma control.7,8,10 Tezspire acts at the top of the inflammation cascade and has the potential to help address a broad population of severe asthma patients irrespective of biomarker levels.7,8Tezspire is approved in the US, EU, Japan and other countries for the treatment of severe asthma.4-6 Tezspire is also in development for other potential indications including chronic obstructive pulmonary disease (COPD), chronic rhinosinusitis with nasal polyps, chronic spontaneous urticaria and eosinophilic esophagitis (EoE). In October 2021, tezepelumab was granted Orphan Drug Designation by the FDA for the treatment of EoE.Amgen collaborationIn 2020, Amgen and AstraZeneca updated a 2012 collaboration agreement for Tezspire. Both companies will continue to share costs and profits equally after payment by AstraZeneca of a mid single-digit inventor royalty to Amgen. AstraZeneca continues to lead development and Amgen continues to lead manufacturing. All aspects of the collaboration are under the oversight of joint governing bodies. Under the amended agreement, Amgen and AstraZeneca will jointly commercialise Tezspire in North America. Amgen will record product sales in the US, with AZ recording its share of US profits as Collaboration Revenue. Outside of the US, AstraZeneca will record product sales, with Amgen recording profit share as Other/Collaboration revenue.AstraZeneca in Respiratory & ImmunologyRespiratory & Immunology, part of BioPharmaceuticals, is one of AstraZeneca's main disease areas and is a key growth driver for the Company.AstraZeneca is an established leader in respiratory care with a 50-year heritage. The Company aims to transform the treatment of asthma and COPD by focusing on earlier biology-led treatment, eliminating preventable asthma attacks, and removing COPD as a top-three leading cause of death. The Company's early respiratory research is focused on emerging science involving immune mechanisms, lung damage and abnormal cell-repair processes in disease and neuronal dysfunction.With common pathways and underlying disease drivers across respiratory and immunology, AstraZeneca is following the science from chronic lung diseases to immunology-driven disease areas. The Company's growing presence in immunology is focused on five mid- to late-stage franchises with multi-disease potential, in areas including rheumatology (including systemic lupus erythematosus), dermatology, gastroenterology, and systemic eosinophilic-driven diseases. AstraZeneca's ambition in Respiratory & Immunology is to achieve disease modification and durable remission for millions of patients worldwide.AstraZeneca AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visitastrazeneca.com and follow the Company on Twitter @AstraZeneca.ContactsFor details on how to contact the Investor Relations Team, please click here. For Media contacts, click here.References1. Tezspire US prescribing information. Available at: https://www.accessdata.fda.gov/drugsatfda_docs/label/2021/761224s000lbl.pdf. [Last accessed: January 2023].2. Zheng Y, et al. Tezepelumab Pharmacokinetics, Safety, and Tolerability After Administration via Vial-and-syringe, Accessorized Prefilled Syringe, or Autoinjector: A Randomized Trial in Healthy Volunteers. Clin Thera. 2020;43(1):142-155.3. Alpizar S, et al. Functionality and Performance of an Accessorized Pre-Filled Syringe and an Autoinjector for At-Home Administration of Tezepelumab in Patients with Severe, Uncontrolled Asthma. J. Asthma Allergy. 2021;14:381-392.4. AstraZeneca plc. Tezspire (tezepelumab) approved in the US for severe asthma. Available at: https://www.astrazeneca.com/media-centre/press-releases/2021/Tezspire-tezepelumab-approved-in-the-us-for-severe-asthma.html. [Last accessed: January 2023].5. AstraZeneca plc. Tezspire approved in the EU for the treatment of severe asthma. 2022. Available at: https://www.astrazeneca.com/content/astraz/media-centre/press-releases/2022/tezspire-approved-in-the-eu-for-the-treatment-of-severe-asthma.html. [Last accessed: January 2023].6. AstraZeneca plc. Tezspire approved in Japan for the treatment of severe asthma. Available at: https://www.astrazeneca.com/media-centre/press-releases/2022/tezspire-approved-in-japan-for-severe-asthma.html. [Last accessed: January 2023].7. Menzies-Gow A, et al. Tezepelumab in Adults and Adolescents with Severe, Uncontrolled Asthma. N Engl J Med. 2021;384: 1800-1809. DOI: 10.1056/NEJMoa2034975.8. Corren J, et al. Tezepelumab in adults with uncontrolled asthma [supplementary appendix; updated April 18, 2019]. N Engl J Med. 2017;377:936-946.9. Varricchi G, et al. Thymic Stromal Lymphopoietin Isoforms, Inflammatory Disorders, and Cancer. Front Immunol. 2018;9:1595.10. Li Y, et al. Elevated Expression of IL-33 and TSLP in the Airways of Human Asthmatics In Vivo: A Potential Biomarker of Severe Refractory Disease. J Immunol. 2018;200:2253-2262..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.02.06/Drug companies face COVID cliff in 2023 as sales set to plummet.txt b/news/AZN/2023.02.06/Drug companies face COVID cliff in 2023 as sales set to plummet.txt new file mode 100644 index 0000000000000000000000000000000000000000..826271a00e5b14e9979d969cbe6dca1937e9f6e2 --- /dev/null +++ b/news/AZN/2023.02.06/Drug companies face COVID cliff in 2023 as sales set to plummet.txt @@ -0,0 +1 @@ +Western drugmakers including Pfizer Inc, BioNTech SE, Moderna Inc, Gilead Sciences Inc, AstraZeneca Plc and Merck & Co are estimated to have brought in about $100 billion in revenue from COVID vaccines and treatments in 2022.Company and analyst estimates suggest those sales could fall by nearly two-thirds this year due to built up product inventories around the world including in the countries that pay the most. Population immunity from high rates of vaccination and previous infections means that demand for treatments could dip as well. GRAPHIC: Pharmaceutical companies made billions from the pandemic, https://www.reuters.com/graphics/HEALTH-CORONAVIRUS/REVENUES/jnpwyxjgzpw/chart.pngThese companies are used to steep revenue drops known as patent cliffs that occur when their exclusivities on big-selling drugs expire and generic rivals move in, but they strategize for those swings for years. "When you think about traditional drug and vaccine development and longevity of sales, it's usually much more spread out," Morningstar analyst Damien Conover said. "This is very, very concentrated." The sudden inflow of revenue should prod companies to strike deals and link up with new partners, he said. BMO Capital Markets analyst Evan Seigerman said companies should use the quick cash for transformative deals. "Pfizer did these $10 billion deals to build their portfolio and I think they need to do something bigger and more impactful," he said, referring to the $5.4 billion buyout of Global Blood Therapeutics and $11.6 billion purchase of migraine drugmaker Biohaven Pharmaceutical. Pfizer has been the biggest corporate beneficiary of the pandemic financially, with more than $56 billion in 2022 revenue from the vaccine it developed with German partner BioNTech and from its COVID-19 antiviral treatment Paxlovid.Pfizer has said it expects that revenue to drop to around $21.5 billion in 2023, although some analysts believe that forecast is overly optimistic. "We remain skeptical that COVID revenues will grow in 2024 and beyond," JP Morgan analyst Chris Schott said in a research note, adding that vaccination rates could fall even further than the significant decline seen with booster shots in 2022. Vaccine maker Moderna also expects 2023 revenue to fall sharply. The company's only product - its messenger RNA COVID vaccine - pulled in around $18.4 billion in 2022. Analysts expect that to drop to around $7 billion in 2023. The company is due to report earnings later this month. Oppenheimer & Co analyst Hartaj Singh said investors are "frustrated Moderna hasn't used their firepower more effectively to prepare for revenues and earnings going down in 2023 or 2024."Moderna shares are up in recent months, but a $173.25 closing price on Friday is more than 65% off their pandemic high of close to $500 in August 2021. "There are examples of companies that have sat on their hands and the share price has not done well, and Moderna could go down that path," Singh cautioned. MERCK, LILLY PLAN FOR DECLINE Other companies have seen a more modest impact from their COVID businesses. "We are not counting on Lagevrio as a driver of growth for our business," Merck Chief Executive Rob Davis said in an interview last week of the company's antiviral pill. "We very much saw Lagevrio as an opportunity to make a meaningful difference at a time of need."Merck reported sales of $5.7 billion from the treatment last year. Analysts expect that to drop below $1 billion this year. Merck had over $59 billion in total sales in 2022.Eli Lilly and Co made $2 billion in 2022 from monoclonal antibody COVID treatments and is not expecting any revenue from the business in 2023. The U.S. Food and Drug Administration pulled its authorization of Lilly's latest antibody bebtelovimab in November because it was not effective against circulating Omicron subvariants. "We did fine with COVID," Eli Lilly CEO Dave Ricks said in an interview. "We made a little bit of money with it. What we did with that was we mostly reinvested it in R&D (Research and Development), and last year was a record R&D spending year for the company." (Additional reporting by Khushi Mandowara in Bengaluru; Editing by Caroline Humer and Bill Berkrot)By Michael Erman and Patrick Wingrove \ No newline at end of file diff --git a/news/AZN/2023.02.06/Drug companies face huge drop in sales in 2023.txt b/news/AZN/2023.02.06/Drug companies face huge drop in sales in 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..8d4b27fac11093b69a41b3673271f1465eab6d1f --- /dev/null +++ b/news/AZN/2023.02.06/Drug companies face huge drop in sales in 2023.txt @@ -0,0 +1 @@ +and Moderna are facing a "COVID cliff"Those firms, along with others like Gilead Sciences, AstraZeneca, and Merckare estimated to have earned $100 billion over the last two years from COVID vaccines and treatmentsAnalysts expect those sales could fall by nearly two-thirds this year Pfizer brought in $56 billion in revenue in 2022 fromits vaccine with BioNTech and antiviral drug PaxlovidThe company expects that to drop to $21.5 billion in 2023Moderna pulled in around $18.4 billion in2022 from its messenger RNA COVID vaccineIt expects revenue to drop to around $7 billion in 2023Other companies like Merck and Eli Lilly have seen a more modest impact from their COVID businessesQuote from David Ricks, Eli Lilly CEO:"We did fine with COVID. We made a little bit of money with it. What we did with that was we mostly reinvested it in R&D (Research and Development), and last year was a record R&D spending year for the company." \ No newline at end of file diff --git a/news/AZN/2023.02.06/U.S. employment weighs on markets.txt b/news/AZN/2023.02.06/U.S. employment weighs on markets.txt new file mode 100644 index 0000000000000000000000000000000000000000..2af7582aa51c68dd30b4c03bfa5ad8e7b7677bf0 --- /dev/null +++ b/news/AZN/2023.02.06/U.S. employment weighs on markets.txt @@ -0,0 +1,43 @@ + +Equity markets posted another weekly gain, but the party was spoiled by a complicated Friday session in the US. Going into the details, quite a bit has happened in the last few sessions, of which I will focus on citing the most important here. +Firstly, The Fed's first monetary policy decision of 2023 was in line with expectations, with a small rate hike. But Jerome Powell was less combative than expected, which increased investors' risk appetite, who believe that the US central bank is moving towards a more favorable policy.  +Secondly, big American technology groups such as Apple, Alphabet, and Amazon have published mediocre quarterly results. Don't worry about them, they are still raking in billions. But they are not so proud of it because the sales figures are not so good. I would like to remind you that it is complicated to make a turnover look better than it really is. But it is quite easy to make earnings per share match market expectations with a minimum of accounting ingenuity and a few well-intentioned share buybacks. +Thirdly, the monthly US employment report published on Friday highlighted the saying "good news for the economy is not necessarily good news for the financial markets". Because the US economy is still going strong, at least from the point of view of the labor market where job creation is explosive and the unemployment rate is at a low point (for a more nuanced view, read a paper by economist James Knightley here). Written like that, it sounds like good news. And it probably is. But not from the point of view of US central bankers, who fear that this momentum could undermine their efforts to slash inflation in a sustainable way. At this stage, there are no signs of a price-wage spiral (rising prices lead to rising wages, which lead to rising prices, which... you get the idea). At least not in the same proportions: wages are rising, but less than prices. However, the statistic dampened the optimism seen in Tuesday, Wednesday and Thursday's sessions. Bond yields accelerated sharply on the 10-year US bond, which is a sign of the return of some tension on the path of monetary policy. But let's not get carried away: these yields are still a long way from the levels of the fall of 2022 when uncertainty about the evolution of inflation was at its peak. +The equity and bond markets feel that the central banks are getting closer to the end of their rate hike cycle. However, some doubts remain and investors are navigating with the statistics that confirm or refute these doubts. Among the main unknowns are + +The precise level of the rate peak +How long rates will remain at the peak level (and by implication the question of when the first drop in the cycle will occur) +And the profound economic consequences of current rate levels (on real estate, corporate financing, household consumption, etc.) + +Returning to last week's performance, Western equity markets posted gains generally between 1 and 2%, rising to over 3% for the Nasdaq 100, the major index that best symbolizes risk appetite. The French CAC40 performed well, gaining nearly 2%. The Parisian index was up thanks to technology companies and its exposure to luxury goods, which is an excellent mirror of the Chinese recovery. +Let's talk about China because Hong Kong and Shanghai are down sharply this morning. This is due to the renewed geopolitical tension between Washington and Beijing after the case of the Chinese observation balloon that drifted in the sky of the United States last week. The discovery of the balloon was initially surprising, but then China explained that it was a civilian balloon that had gone astray, which nobody believed. The balloon was eventually shot down: America could not afford to let a Chinese craft roam in its airspace. Beijing took offense. This is the typical action-reaction game of this kind of situation. Nevertheless, this affair comes at a bad time, since the two powers had planned to hold high-level talks. +In other news over the weekend, India will ban betting and lending apps linked to China. The EU is imposing a cap on Russian diesel exports and a massive earthquake hit southern Turkey and Syria. The macroeconomic calendar will be mostly filled with Asia this week, but it seems that investors are more concerned with the Fed boss' speech tomorrow at 6 pm. Will he get a clear message across after seeming to miss the point last week? That is the question. On the corporate front, the list is still particularly long this week. I'll mention a few to get you in the mood: Linde, BP Plc, BNP Paribas, Carlsberg (Tuesday), Walt Disney, TotalEnergies, CVS Health, Uber, AP Moller Maersk, Adyen, Societe Generale, Akzo, Amundi (Wednesday), AbbVie, PepsiCo, AstraZeneca, L'Oréal, Philip Morris, Unilever, S&P Global, PayPal, Siemens, Vinci, Compass, KBC, Legrand, Crédit Agricole (Thursday). Finally, there were a few capital transactions, including the "unsolicited" takeover offers of Newcrest by Newmont Corporation (that's in gold mining) and of Life Storage by Public Storage (that's in personal storage). +Economic highlights of the day: +German factory orders in December (3:00 am) and Eurozone retail sales in December (5:00am) will enliven the session. All the agenda here. +  +The dollar is up 0.2% to EUR 0.9288 and down 0.07% to GBP 0.8298. The ounce of gold is down to 1872 USD. Oil is also under pressure, with North Sea Brent crude at USD 80.18 a barrel and US WTI light crude at USD 73.70. The yield on 10-year US debt rebounds to 3.55%. Bitcoin is falling back to around USD 22,800. + +In corporate news: + +Newmont said it has made a $16.9 billion bid for Australian miner Newcrest Mining to build a global gold conglomerate. +Chevron has entered into negotiations with Algeria to undertake energy exploration activities in the North African country.  +Dell will cut about 6,650 jobs, or about 5 percent of the computer giant's global workforce, due to declining demand for its personal computers. +Oracle plans to invest $1.5 billion in Saudi Arabia in the coming years to build its cloud presence in the country. +Public Storage, the largest U.S. operator of self-storage properties, announced Sunday that it had made an unsolicited $11 billion bid for rival Life Storage Inc. +Carlyle has hired Harvey Schwartz, a former Goldman Sachs executive, as the private equity firm's next chief executive. +Tesla raised U.S. prices for its best-selling Model Y vehicle by $1,000 after the government raised the price cap on crossover electric vehicles eligible for tax credits. +Rogers - Starboard Value has amassed a significant stake in the electronic materials company and is seeking seats on the group's board. +Southwest Airlines - The airline's chief operating officer, Andrew Watterson, will testify on Feb. 9 before the U.S. Senate Commerce Committee after the group's operational problems in December led to the cancellation of more than 16,000 flights. + +Analyst recommendations: + +Hartford Financial Services Group: Piper Sandler raised the target to $96 from $83. Maintains overweight rating. +Lear: Evercore upgrades to inline from outperform. PT up 2.7% to $145. +M/I Homes: Wedbush raised the target to $73 from $63. Maintains outperform rating. +NVR: KeyBanc Capital Markets starts NVR at Sector Perform with $6,000 Price Target. +Pool: Stifel downgrades to hold from buy targeting $360. +RH: Telsey Advisory Group cut the recommendation to market perform from outperform. Price Target down 4% to $330. +Saia: Benchmark Company maintains buy rating to $320 from $230. Maintains buy rating. +Tesla: Guggenheim raised to $105 from $89. + + diff --git a/news/AZN/2023.02.06/UK earnings, trading statements calendar - next 7 days.txt b/news/AZN/2023.02.06/UK earnings, trading statements calendar - next 7 days.txt new file mode 100644 index 0000000000000000000000000000000000000000..e69de29bb2d1d6434b8b29ae775ad8c2e48c5391 diff --git a/news/AZN/2023.02.06/UK stocks slip as rate hike worries grip investors.txt b/news/AZN/2023.02.06/UK stocks slip as rate hike worries grip investors.txt new file mode 100644 index 0000000000000000000000000000000000000000..db8c8cd81f4cb99eb11764faeffcd1714ee644a0 --- /dev/null +++ b/news/AZN/2023.02.06/UK stocks slip as rate hike worries grip investors.txt @@ -0,0 +1,32 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window)*Global sentiment dented by worries over higher interest +rates*BoE's Catherine Mann backs rate hikes*FTSE 100 down 0.8%, FTSE 250 off 0.9%Feb 6 (Reuters) - The UK's FTSE 100 closed lower on +Monday, as upbeat U.S. economic data last week sparked fears of +further monetary tightening and as a top Bank of England (BoE) +official voiced concerns that rates need to stay higher for +longer.The blue-chip FTSE 100 fell 0.8% after briefly +hitting a new record high in the previous session, while the +domestically-focused FTSE 250 recorded a near 1% drop +after climbing to an eight-month peak last week.Nearly all major sectors finished in the red, but precious +metal miners eked out a meagre rise of 0.7%.China-exposed financial services firm Prudential +fell nearly 5% on concerns around elevated Sino-U.S. +geopolitical tensions.Globally, stocks wilted and government bond yields rose +after last week's upbeat economic data from the United States +and other economies lessened the risk of recession, but also +suggested rates might have to be hiked further."Markets are pricing some cuts this year and I think that is +not going to work, that's not going to be what transpires, so +there is room for downside from here for equities," said Vivek +Paul, UK chief investment strategist at BlackRock Investment +Institute.BoE rate-setter Catherine Mann backed further increases in +interest rates and warned that pausing risked a confusing +"policy boogie" if it turned out rates would need to rise again.The Bank of England delivered its 10th straight interest +rate hike last week and signalled the tide was turning in its +battle against high inflation.Data on Monday showed Britain's construction sector had its +worst month in almost three years in January as rising borrowing +costs hit house-building hard.Looking ahead, the week houses some big corporate earnings, +including oil major BP, drugmaker AstraZeneca and +consumer goods maker Unilever.Among individual stocks, Hargreaves Lansdown fell +3.3% after Credit Suisse downgraded the wealth manager's shares +to "underperform" from "neutral". +(Reporting by Sruthi Shankar and Shashwat Chauhan in Bengaluru; +Editing by Subhranshu Sahu, Rashmi Aich and Sharon Singleton) \ No newline at end of file diff --git a/news/AZN/2023.02.06/United States Court Of Appeals For The Third Circuit Holds That Drug Manufacturers Are ...txt b/news/AZN/2023.02.06/United States Court Of Appeals For The Third Circuit Holds That Drug Manufacturers Are ...txt new file mode 100644 index 0000000000000000000000000000000000000000..d859b4154c7e1ab2debd9cbce00fcb20b35c3e58 --- /dev/null +++ b/news/AZN/2023.02.06/United States Court Of Appeals For The Third Circuit Holds That Drug Manufacturers Are ...txt @@ -0,0 +1,13 @@ +Key Takeaways:On January 30, 2023, the United States Court of Appeals for the Third Circuit issued its decision in Sanofi Aventis U.S. LLC v. United States Department of Health and Human Services, enjoining the United States Department of Health and Human Services (HHS) from requiring three drug manufacturers to provide drugs at the 340B ceiling price to an unlimited number of retail pharmacies contracted with 340B covered entities. Specifically, the court held that: (1) the drug makers' challenge to HHS' Advisory Opinion describing HHS' contract pharmacy policy is not moot; (2) Section 340B of the Public Health Service Act (Section 340B) does not require drug makers to deliver drugs to an unlimited number of contract pharmacies, so HHS' enforcement efforts against drug makers are unlawful; and (3) HHS' administrative dispute resolution (ADR) Rule was lawfully promulgated. Notably, the Third Circuit only enjoined HHS from enforcing this policy against the three manufacturers in the suit: Sanofi, Novo Nordisk, and AstraZeneca. Ultimately, this decision leaves HHS with an important question: if the statute does not support covered entities contracting with an unlimited number of contract pharmacies, does it support any minimum level of contract pharmacies? Further, it leaves those manufacturers that are not a party to the litigation with an important question: should they consider restricting distribution of drugs sold under the 340B Drug Pricing Program to only covered entities, or to a single contract pharmacy under arrangements with that covered entity?Background: 340B Contract Pharmacy DisputeThe 340B Drug Pricing Program requires drug manufacturers to offer outpatient pharmaceuticals to statutorily defined covered entities (including certain hospitals and certain federal grantees, such as federally qualified health centers) at a deeply discounted 340B ceiling price. While drug manufacturers were originally required to offer 340B discounts only to covered entities' in-house pharmacies, the Health Resources and Services Administration (HRSA)—an HHS agency—has since authorized covered entities to contract with retail pharmacies to fill prescriptions for 340B-acquired drugs on their behalf. The use of contract pharmacies was initially limited, but in 2010, HRSA issued guidance allowing covered entities to work with an unlimited number of contract pharmacies. Many manufacturers oppose the 2010 contract pharmacy policy on the basis that it has contributed to the explosive growth in the 340B program and because it generates issues related to diversion and program compliance.In the ACA, Congress instructed HHS to establish an ADR procedure to hear disputes between manufacturers and covered entities regarding the 340B program. Although the statute required HHS to promulgate those rules within 180 days, HHS did not issue a proposed rule creating ADR procedures until 2016. A year later, after receiving comments on the rule, HHS withdrew the ADR rule from the Unified Agenda of Federal Regulatory and Deregulatory Actions. In December 2020, in response to litigation filed by several 340B covered entities, HHS finalized the ADR rule originally proposed in 2016, despite having withdrawn the rule from the unified agenda three years earlier.Also in December 2020, HHS released an Advisory Opinion declaring that Section 340B unambiguously requires drug makers to deliver 340B drugs to an unlimited number of contract pharmacies, in line with its earlier 2010 guidance. Five months later, HHS issued Violation Letters to several drug makers who adopted policies limiting the distribution of 340B drugs to contact pharmacies allegedly in violation of the Advisory Opinion's guidance. The Advisory Opinion and Violation Letters both concluded that drug makers must deliver discounted drugs to an unlimited number of contract pharmacies.Shortly after HHS issued its Advisory Opinion, six different pharmaceutical manufacturers filed separate litigations in federal district courts across the country challenging HRSA's policy requiring manufacturers to provide drugs at 340B ceiling prices to an unlimited number of contract pharmacies. Not only did the manufacturers bring the litigation, they also notified covered entities that they would not honor multiple contract pharmacy arrangements. While their exact claims varied, the manufacturers generally asserted that HRSA exceeded its authority by permitting unlimited use of contract pharmacies in the 340B program, and, furthermore, that HRSA's ADR Rule conflicts with the Administrative Procedure Act (APA).Over the past year, the federal district courts reviewing these cases have come to different conclusions about the permissibility of HRSA's 340B contract pharmacy policy. Most relevant for the appeal in the Third Circuit, the District Court for the District of Delaware held in a case brought by AstraZeneca that the Advisory Opinion was arbitrary and capricious because it wrongly characterized the Section 340B statute as unambiguous, which led to HRSA withdrawing the advisory opinion. The District Court also vacated the Violation Letter because it rested on the flawed premise that Section 340B was unambiguous.Things played out differently in the District Court for the District of New Jersey in cases brought by Sanofi-Aventis and Novo Nordisk. There, in a consolidated opinion, the District Court held that Sanofi and Novo Nordisk's challenge to HHS' Advisory Opinion was moot because the Advisory Opinion had been withdrawn by HRSA. Further, while the court found that contract pharmacy arrangements are consistent with the 340B statute and there is no statutory support for manufacturer restrictions, it ultimately vacated the Violation Letters and remanded to the agency to further consider and explain how many contract pharmacies the 340B statute permits. Lastly, the District Court upheld the ADR Rule.The Third Circuit Holds HRSA's Interpretation of 340B Statute is Invalid, But Upholds the ADR RuleOn appeal, the Third Circuit reviewed the AstraZeneca, Sanofi-Aventis, and Novo Nordisk decisions in a single consolidated appeal. First, as a preliminary matter, the Third Circuit held that the drug makers' challenge to the Advisory Opinion is not moot. Although HHS rescinded its Advisory Opinion after losing in the District of Delaware, HHS maintained its position that drug makers must deliver their drugs to an unlimited number of contract pharmacies by taking enforcement action in accordance with that view.Next, the Third Circuit addressed whether HRSA's position in the Advisory Opinion and Violation Letters that the 340B program requires drug makers to deliver drugs to an unlimited number of contract pharmacies is permissible. The court held that HHS' Advisory Opinion and Violation Letters were unlawful for the following reasons:Lastly, the Third Circuit found that HHS did not violate the APA by withdrawing the proposed ADR Rule before later finalizing it. The Third Circuit noted that "[t]he APA does not mention withdrawing proposed rules. Nor has the Supreme Court." Further, the court stated that if HHS "...had the power to effectively nullify the prior notice and comments, we think it would require something more than what happened here." While the ADR Rule was marked as withdrawn in the Unified Agenda of Federal Regulatory and Deregulatory Actions, that publication was not created as part of the APA. In essence, the proposed rule was marked as withdrawn in an informal publication with no nexus to the APA, so the Third Circuit deemed the ADR Rule satisfied the APA's procedural requirements.Next StepsThe Third Circuit is the first U.S. Court of Appeals to issue its opinion in the contract pharmacy cases currently pending in federal courts across the country. As mentioned above, several other drug manufacturers have challenged HRSA's 340B contract pharmacy policy, and those manufacturers are still awaiting decisions in the D.C. Circuit and the Seventh Circuit. These courts could reach different conclusions than the Third Circuit and create a circuit split. If that happens, there is a significant likelihood that this issue could go to the Supreme Court next term. Ultimately, while this case is a significant win for drug manufacturers, it is unclear what the potential impact on the Section 340B program will be until the other appellate courts have ruled and it is clear whether the Supreme Court will or will not grant certiorari. In addition, the decision leaves open a significant question for HRSA to consider: if the statute does not support covered entities contracting with an unlimited number of contract pharmacies, does it support any minimum level of contract pharmacies (for example, a single contract pharmacy for those 340B covered entities that lack an in-house pharmacy)? For the time being, the Third Circuit only enjoined HHS from enforcing this policy against the three manufacturers in the suit: Sanofi, Novo Nordisk, and AstraZeneca. As such, HHS can continue enforcement against other drug manufacturers for the time being.Our healthcare lawyers at Foley Hoag will continue to track the ongoing dispute regarding 340B contract pharmacies carefully, and will provide further updates as they develop.Law Clerk Kian Azimpoor co-authored this alert.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Andrew London +Foley Hoag LLP +Seaport West +155 Seaport Boulevard +Boston +MA US 02210-2600 +UNITED STATES +Tel: 6178321000 +Fax: 617 8327000 +E-mail: ACallanan@foleyhoag.com +URL: www.foleyhoag.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/AZN/2023.02.07/ASTRAZENECA : Buy rating from Deutsche Bank.txt b/news/AZN/2023.02.07/ASTRAZENECA : Buy rating from Deutsche Bank.txt new file mode 100644 index 0000000000000000000000000000000000000000..25c007b6ed4eeca018d1e792887f25f5fbb504f3 --- /dev/null +++ b/news/AZN/2023.02.07/ASTRAZENECA : Buy rating from Deutsche Bank.txt @@ -0,0 +1 @@ +Deutsche Bank analyst Emmanuel Papadakis maintains his Buy rating on the stock. The target price is still set at GBX 13000. \ No newline at end of file diff --git a/news/AZN/2023.02.07/CORRECT: EU approves AstraZeneca's Forxiga for chronic heart failure.txt b/news/AZN/2023.02.07/CORRECT: EU approves AstraZeneca's Forxiga for chronic heart failure.txt new file mode 100644 index 0000000000000000000000000000000000000000..217db5a54c741cf5b9a8fdd276b8e7d5a31467ca --- /dev/null +++ b/news/AZN/2023.02.07/CORRECT: EU approves AstraZeneca's Forxiga for chronic heart failure.txt @@ -0,0 +1 @@ +(Corrects share price information.)(Alliance News) - AstraZeneca PLC on Tuesday announced that the EU has approved its drug Forxiga for the treatment of symptomatic chronic heart failure.The approval comes after the European Medicines Agency's Committee for Medicinal Products for Human Use recommended approval in December. The Cambridge-based pharmaceutical company said the approval marks the "first and only heart failure therapy with proven mortality benefit across the full ejection fraction range."Heart failure affects about 15 million people in Europe, AstraZeneca said, quoting a 2008 study that was endorsed by the European Society of Intensive Care Medicine.Mene Pangalos, executive vice president, at AstraZeneca's BioPharmaceuticals research & development unit, said: "This broader indication for Forxiga for the treatment of symptomatic chronic heart failure across the full ejection fraction range will help more patients to benefit from this well-tolerated and guideline-directed treatment. We are redefining treatment of cardiorenal diseases with Forxiga's demonstration of life-saving benefits, underscoring AstraZeneca's commitment to provide innovative solutions that can help address the complexities of heart failure across the spectrum of the disease."Besides treating heart failure, AstraZeneca's Forxiga is also approved in the EU for the treatment of type 2 diabetes and chronic kidney disease.Shares in AstraZeneca were up 0.3% to 10,616.00 pence on Tuesday morning in London.By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.07/EU approves AstraZeneca's Forxiga for chronic heart failure.txt b/news/AZN/2023.02.07/EU approves AstraZeneca's Forxiga for chronic heart failure.txt new file mode 100644 index 0000000000000000000000000000000000000000..718c23aa45767452e6cb218705e953d6a6220bf7 --- /dev/null +++ b/news/AZN/2023.02.07/EU approves AstraZeneca's Forxiga for chronic heart failure.txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC on Tuesday announced that the EU has approved its drug Forxiga for the treatment of symptomatic chronic heart failure.The approval comes after the European Medicines Agency's Committee for Medicinal Products for Human Use recommended approval in December. The Cambridge-based pharmaceutical company said the approval marks the "first and only heart failure therapy with proven mortality benefit across the full ejection fraction range."Heart failure affects about 15 million people in Europe, AstraZeneca said, quoting a 2008 study that was endorsed by the European Society of Intensive Care Medicine.Mene Pangalos, executive vice president, at AstraZeneca's BioPharmaceuticals research & development unit, said: "This broader indication for Forxiga for the treatment of symptomatic chronic heart failure across the full ejection fraction range will help more patients to benefit from this well-tolerated and guideline-directed treatment. We are redefining treatment of cardiorenal diseases with Forxiga's demonstration of life-saving benefits, underscoring AstraZeneca's commitment to provide innovative solutions that can help address the complexities of heart failure across the spectrum of the disease."Besides treating heart failure, AstraZeneca's Forxiga is also approved in the EU for the treatment of type 2 diabetes and chronic kidney disease.Shares in AstraZeneca were up 0.2% to 10,601.20 pence on Thursday morning in London.By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.07/Forxiga approved in EU for chronic heart failure.txt b/news/AZN/2023.02.07/Forxiga approved in EU for chronic heart failure.txt new file mode 100644 index 0000000000000000000000000000000000000000..712a534ed980e71ec5cb9115bbadeb6356a1a5a3 --- /dev/null +++ b/news/AZN/2023.02.07/Forxiga approved in EU for chronic heart failure.txt @@ -0,0 +1 @@ +Forxiga (dapagliflozin) has been approved in the European Union for heart failure (HF) with reduced ejection fraction (HFrEF) across the full spectrum of left ventricular ejection fraction (LVEF).AstraZeneca's Forxiga is the first and only heart failure therapy with proven mortality benefit across the full ejection fraction range. The first-in-class, oral, once-daily SGLT2 inhibitor has shown efficacy in preventing and delaying cardiorenal disease, while also protecting the organs, research has shown.The approval by the European Commission follows the positive opinion of the Committee for Medicinal Products for Human Use (CHMP) in December 2022. It was based on the positive results from the DELIVER Phase III trial, comparing Forxiga with placebo. This was the largest clinical trial to date in HF patients with LVEF above 40 percent, with 6,263 randomised patients.Forxiga is approved for type-2 diabetes (T2D), HFrEF and chronic kidney disease (CKD) in more than 100 countries around the world including the US, the EU, China and Japan. It has most recently received regulatory approvals in Great Britain, Japan and Turkey to extend the HF indication to include patients across the full spectrum of LVEF. The HF indication extension application is currently under review in the US and other countries.Dapagliflozin approved for heart failure across LVEFs…"This broader indication for Forxiga for the treatment of symptomatic chronic heart failure across the full ejection fraction range will help more patients to benefit from this well-tolerated and guideline-directed treatment," commented Mene Pangalos, Executive Vice President of BioPharmaceuticals R&D at AstraZeneca.Heart failureHF affects nearly 64 million people globally, according to a study published in the Lancet in 2017. Research shows approximately half of all HF patients have mildly reduced ejection fraction (HFmrEF) or preserved ejection fraction (HFpEF), with few therapeutic options available. Approximately half of HF patients die within five years of diagnosis, according to a report by the American Heart Association.The post Forxiga approved in EU for chronic heart failure appeared first on European Pharmaceutical Review.© Russell Publishing Limited, 2023. All Rights Reserved., source Trade Journals \ No newline at end of file diff --git a/news/AZN/2023.02.07/UK earnings, trading statements calendar - next 7 days.txt b/news/AZN/2023.02.07/UK earnings, trading statements calendar - next 7 days.txt new file mode 100644 index 0000000000000000000000000000000000000000..e69de29bb2d1d6434b8b29ae775ad8c2e48c5391 diff --git a/news/AZN/2023.02.07/World Press Review: February 7.txt b/news/AZN/2023.02.07/World Press Review: February 7.txt new file mode 100644 index 0000000000000000000000000000000000000000..cc3659b4459e26509c45f8c51dd8cd8636e339a6 --- /dev/null +++ b/news/AZN/2023.02.07/World Press Review: February 7.txt @@ -0,0 +1,4 @@ + +BP, BNP Paribas, Eurazeo, Santander, Rolls-Royce, Intesa Sanpaolo, Inditex, Siemens Energy, AstraZeneca, Google (Alphabet), Baidu, Bed Bath & Beyond, CVS Health, AMC Entertainment, SoftBank, Nintendo, Mitsubishi Heavy and Siemens gamesa + + diff --git "a/news/AZN/2023.02.08/Biostock : \302\240Elicera on AstraZeneca's acquisition of Neogene Therapeutics.txt" "b/news/AZN/2023.02.08/Biostock : \302\240Elicera on AstraZeneca's acquisition of Neogene Therapeutics.txt" new file mode 100644 index 0000000000000000000000000000000000000000..66754339524888ba9b8b66f1df6f6a716035b737 --- /dev/null +++ "b/news/AZN/2023.02.08/Biostock : \302\240Elicera on AstraZeneca's acquisition of Neogene Therapeutics.txt" @@ -0,0 +1 @@ +Interest in cell therapies is on the rise, which is noticeable both in research and the huge deals that have been made in the field in recent years. One of the latest proofs of this is AstraZeneca's acquisition of Neogene Therapeutics, which develops T-cell receptor therapies. BioStock contacted the Swedish cell and gene therapy company Elicera Therapeutics, who commented on the importance of the acquisition for the cell and gene therapy field.Read the interview with Elicera Therapeutics CEO Jamal El-Mosleh at biostock.se:https://www.biostock.se/en/2023/02/elicera-on-astrazenecas-acquisition-of-neogene-therapeutics/This is a press release from BioStock - Connecting Innovation & Capital. https://www.biostock.se/https://news.cision.com/elicera-therapeutics/r/biostock-elicera-on-astrazeneca-s-acquisition-of-neogene-therapeutics,c3710972(c) 2023 Cision. All rights reserved., source Press Releases - English \ No newline at end of file diff --git a/news/AZN/2023.02.08/Forxiga approved in the EU for the treatment of symptomatic chronic heart failure.txt b/news/AZN/2023.02.08/Forxiga approved in the EU for the treatment of symptomatic chronic heart failure.txt new file mode 100644 index 0000000000000000000000000000000000000000..6f2cfcaf4b285d1e1da440e6da984fd1d9a25d6d --- /dev/null +++ b/news/AZN/2023.02.08/Forxiga approved in the EU for the treatment of symptomatic chronic heart failure.txt @@ -0,0 +1 @@ +* First and only heart failure therapy with proven mortality benefit across the full ejection fraction rangeForxiga (dapagliflozin) has been approved in the European Union to extend the indication for heart failure (HF) with reduced ejection fraction (HFrEF) to cover patients across the full spectrum of left ventricular ejection fraction (LVEF), including HF with mildly reduced and preserved ejection fraction (HFmrEF, HFpEF).The approval by the European Commission follows the positive opinion of the Committee for Medicinal Products for Human Use in December 2022 and was based on the positive results from the DELIVER Phase III trial1. Results from the prespecified pooled analysis of DELIVER and DAPA-HF Phase III trials also established Forxiga as the first HF medication to demonstrate mortality benefit across the full ejection fraction range2.Mene Pangalos, Executive Vice President, BioPharmaceuticals R&D, AstraZeneca, said: "This broader indication for Forxiga for the treatment of symptomatic chronic heart failure across the full ejection fraction range will help more patients to benefit from this well-tolerated and guideline-directed treatment. We are redefining treatment of cardiorenal diseases with Forxiga's demonstration of life-saving benefits, underscoring AstraZeneca's commitment to provide innovative solutions that can help address the complexities of heart failure across the spectrum of the disease."HF is a chronic, long-term condition that worsens over time3 and affects about 15 million people in Europe4. Approximately half of HF patients die within five years of diagnosis5 and patients with HFmrEF and HFpEF are not only at greater risk of death and hospitalisations but experience an especially high burden of symptoms and physical limitations, and a poor quality of life6.HFmrEF and HFpEF are also severely underdiagnosed as signs and symptoms are often nonspecific and overlapping with other clinical conditions7. These conditions are frequently complicated by multiple interrelated diseases, specifically coronary heart disease, obesity, diabetes, long-standing hypertension, and chronic kidney disease (CKD), highlighting the importance of risk management for patients with this complex syndrome7.Forxiga (known as Farxiga in the US) is approved for the treatment of patients with type-2 diabetes (T2D), HFrEF and CKD in more than 100 countries around the world including the US, the EU, China and Japan.It has most recently received regulatory approvals in Great Britain, Japan and Turkey to extend the HF indication to include patients across the full spectrum of LVEF. The HF indication extension application is currently under review in the US and other countries.NotesHFHF is a chronic, long-term condition that worsens over time3. It affects nearly 64 million people globally8 and is associated with substantial morbidity and mortality5. Chronic HF is the leading cause of hospitalisation for those over the age of 65 and represents a significant clinical and economic burden9. There are several types of HF often defined by LVEF, a measurement of the percentage of blood leaving the heart each time it contracts, including: HFrEF (LVEF less than or equal to 40%), HFmrEF (LVEF 41-49%) and HFpEF (LVEF greater than or equal to 50%)7. Approximately half of all HF patients have HFmrEF or HFpEF, with few therapeutic options available7,10.DAPA-HFDAPA-HF (Dapagliflozin And Prevention of Adverse-outcomes in Heart Failure) was an international, multi-centre, parallel-group, randomised, double-blinded Phase III trial in 4,744 patients with HFrEF, with and without T2D), designed to evaluate the effect of Forxiga 10mg, compared with placebo, given once daily in addition to standard of care (SoC). The primary composite endpoint was time to the first occurrence of a worsening HF event (hospitalisation or equivalent event, i.e. an urgent HF visit), or cardiovascular (CV) death. The median duration of follow-up was 18.2 months. Key secondary endpoints included the total number of hospitalisations for HF (hHF) (including repeat admissions) and CV deaths, change from baseline to 8 months in the total symptom score on the Kansas City Cardiomyopathy Questionnaire (KCCQ)11.DELIVERDELIVER was an international, randomised, double-blind, parallel-group, placebo-controlled, event-driven Phase III trial designed to evaluate the efficacy of Forxiga, compared with placebo, in the treatment of HF patients with LVEF greater than 40%, with or without T2D. Forxiga was given once daily in addition to background therapy (regional SoC for all comorbidities, including diabetes and hypertension, with the exception of concomitant use of SGLT2 inhibitor)12. DELIVER is the largest clinical trial to date in HF patients with LVEF above 40%, with 6,263 randomised patients12.The primary composite endpoint was the time to first occurrence of CV death, hHF or an urgent HF visit. Key secondary endpoints include the total number of HF events (hHF or urgent HF visit) and CV death, change from baseline in the total symptom score of the KCCQ at eight months, time to the occurrence of CV death and time to the occurrence of death from any cause12.ForxigaForxiga (dapagliflozin) is a first-in-class, oral, once-daily SGLT2 inhibitor. Research has shown Forxiga's efficacy in preventing and delaying cardiorenal disease, while also protecting the organs - important findings given the underlying links between the heart, kidneys and pancreas11,13,14. Damage to one of these organs can cause the other organs to fail, contributing to leading causes of death worldwide, including T2D, HF and CKD8,15-17.Forxiga is approved in adults and children aged 10 years and above for the treatment of insufficiently controlled T2D mellitus as an adjunct to diet and exercise. Forxiga is also approved for the treatment of HFrEF in adults and the treatment of CKD in adults based on the findings of the DAPA-HF and DAPA-CKD Phase III trials.AstraZeneca in CVRMCardiovascular, Renal and Metabolism (CVRM), part of BioPharmaceuticals, forms one of AstraZeneca's main disease areas and is a key growth driver for the Company. By following the science to understand more clearly the underlying links between the heart, kidneys and pancreas, AstraZeneca is investing in a portfolio of medicines for organ protection and improving outcomes by slowing disease progression, reducing risks and tackling co-morbidities. The Company's ambition is to modify or halt the natural course of CVRM diseases and potentially regenerate organs and restore function, by continuing to deliver transformative science that improves treatment practices and CV health for millions of patients worldwide.AstraZenecaAstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca.ContactsFor details on how to contact the Investor Relations Team, please click here. For Media contacts, click here.References1. Solomon S, et al. Dapagliflozin in heart failure with mildly reduced or preserved ejection fraction. N Engl J Med. 2022; 387(12):1089-1098.2. Jhund P, et al. Dapagliflozin across the range of ejection fraction in patients with heart failure: a patient-level, pooled meta-analysis of DAPA-HF and DELIVER. Nat Med. 2022; 28(9):1956-1964.3. Cleveland Clinic [Internet]. Heart failure [cited 2023 Jan 11]. Available from: https://my.clevelandclinic.org/health/diseases/17069-heart-failure-understanding-heart-failure.4. Dickstein K, et al. ESC guidelines for the diagnosis and treatment of acute and chronic heart failure 2008: the Task Force for the Diagnosis and Treatment of Acute and Chronic Heart Failure 2008 of the European Society of Cardiology. Developed in collaboration with the Heart Failure Association of the ESC (HFA) and endorsed by the European Society of Intensive Care Medicine (ESICM). Eur Heart J. 2008;10(10):933-989.5. Mozaffarian D, et al. Heart Disease and Stroke Statistics-2016 Update: A Report From the American Heart Association. Circulation. 2016;133(4):e38-360.6. Warraich HJ, et al. Physical function, frailty, cognition, depression, and quality of life in hospitalized adults >=60 years with acute decompensated heart failure with preserved versus reduced ejection fraction. Circ Heart Fail. 2018;11(11):e005254.7. Heidenreich PA, et al. 2022 AHA/ACC/HFSA Guideline for the Management of Heart Failure: A Report of the American College of Cardiology/American Heart Association Joint Committee on Clinical Practice Guidelines. J Am Coll Cardiol. 2008;10(10):933-989.8. Vos T, et al. Global, regional, and national incidence, prevalence, and years lived with disability for 328 diseases and injuries for 195 countries, 1990-2016: A systematic analysis for the Global Burden of Disease Study 2016. Lancet. 2017;390(10100):1211-1259.9. Azad N, et al. Management of chronic heart failure in the older population. J Geriatr Cardiol. 2014;11(4):329-337.10. Dunlay SM, et al. Epidemiology of heart failure with preserved ejection fraction. Nat Rev Cardiol. 2017;14(10):591-602.11. McMurray JJV, et al. Dapagliflozin in patients with heart failure and reduced ejection fraction. N Engl J Med. 2019;381(21):1995-2008.12. Solomon SD, et al. Dapagliflozin in heart failure with preserved and mildly reduced ejection fraction: rationale and design of the DELIVER trial. Eur J Heart Fail. 2021;23(7):1217-1225.13. Heerspink HJL, et al. Dapagliflozin in patients with chronic kidney disease. N Engl J Med. 2020;383(15):1436-1446.14. Wiviott SD, et al; for the DECLARE-TIMI 58 Investigators. Dapagliflozin and cardiovascular outcomes in type 2 diabetes [article and supplementary appendix]. N Engl J Med. 2019;380(4):347-357.15. Mayo Clinic [Internet]. Heart failure [cited 2023 Jan 11]. Available from: https://www.mayoclinic.org/diseases-conditions/heart-failure/symptoms-causes/syc-20373142.16. Centers for Disease Control and Prevention (CDC) [Internet]. A snapshot: Diabetes in the United States [cited 2023 Jan 11]. Available from: https://www.cdc.gov/diabetes/library/socialmedia/infographics/diabetes.html.17. National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) [Internet]. Heart disease & kidney disease [cited 2023 Jan 11]. Available from: https://www.niddk.nih.gov/health-information/kidney-disease/heart-disease..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.02.08/Powell comments, hope for UK economy lift stocks.txt b/news/AZN/2023.02.08/Powell comments, hope for UK economy lift stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..906591e80a6bb755eb52729b6fd228f6f08a1752 --- /dev/null +++ b/news/AZN/2023.02.08/Powell comments, hope for UK economy lift stocks.txt @@ -0,0 +1 @@ +(Alliance News) - Stocks in London were higher at the close on Wednesday, with sentiment buoyed by a steady message from US Federal Reserve Chair Jerome Powell and indications that the UK may narrowly avoid a recession.The FTSE 100 index closed up 20.46 points, or 0.3% at 7,885.17 on Wednesday. The blue-chip index hit an intraday high of 7,934.30, surpassing the record set on Friday. The FTSE 250 ended up 114.81 points, or 0.6%, at 20,303.81. The AIM All-Share closed up 4.10 points, or 0.5%, at 883.23.The Cboe UK 100 ended up 0.3% at 788.68, the Cboe UK 250 closed up 0.8% at 17,753.74, and the Cboe Small Companies ended up 0.4% at 13,854.58.Speaking at The Economic Club of Washington, Fed Chair Jerome Powell said the US central bank will need to keep raising interest rates."We think that we'll need to do further rate increases and we think we will need to hold policy at a restricted level for some time," Powell said, echoing his language at a press conference last week.AJ Bell's Russ Mould said this was "just the soothing message the market was looking for.""Concerns that last Friday's bumper jobs report would see the Fed react to what it perceived as an overheating labour market were eased, with Powell's relatively relaxed response possibly reflecting the seasonal anomalies which often affect the January numbers," Mould explained.Lifting market mood closer to home, meanwhile, was a new forecast from the National Institute of Economic & Social Research which predicted that the UK will swerve a technical recession this year.It is a more optimistic outlook for the UK economy than that offered by the Bank of England last week, which predicted a shallower but still protracted recession, as well as a recent gloomy prediction from the International Monetary Fund, which saw Britain being the only major economy to suffer a contraction this year.Sterling strengthened following the more-positive forecast. The pound was quoted at USD1.2084 at the London equities close on Wednesday, up from USD1.2015 at the close on Tuesday.In the FTSE 100, BP held on to Tuesday's gains, finishing 2.4% higher. The oil major said that its underlying replacement profit more than doubled in 2022 and was also higher in the fourth quarter, in line with increasing natural gas and oil sales from rising prices.Barratt Developments closed up 1.4% as it reported double-digit interim growth in both revenue and profit, but warned of lower reservation rates early in 2023 due to "tentative" demand. For the half-year that ended on December 31, the housebuilder said revenue rose 24% year-on-year to GBP2.78 billion from GBP2.25 billion. Pretax profit rose 16% to GBP501.5 million from GBP432.6 million, despite operating margin worsening to 17.8% from 19.3%. Smurfit Kappa fell 3.5% despite raising its dividend amid a rise in profit during 2022, as it noted high energy costs and inflation.The Dublin-based packaging maker said pretax profit rose 42% to EUR1.29 billion in 2022 from EUR913 million in 2021. Revenue climbed 27% to EUR12.82 billion from EUR10.11 billion.The company recommended a final dividend of 107.6 euro cents per share, up 12% from 96.1 cents a year prior.However, Smurfit noted high costs driven by energy: "The year was characterised by unprecedented cost inflation, especially in energy, which moderated in the latter part of the year."The company said that cost of sales in 2022 rose by 25% to EUR8.75 billion from EUR7.02 billion in 2021.In the FTSE 250, PZ Cussons dropped 9.0% despite reporting double-digit rises in both interim profit and revenue, and keeping its dividend unchanged. The Manchester-based manufacturer of personal care brands such as Imperial Leather said, in the six months to December 3, revenue rose 19% to GBP336.9 million from GBP283.7 million a year before. It explained that this was led by the Childs Farm acquisition, favourable foreign exchange market and the "impact of additional reporting days in the period".Pretax profit surged 72% to GBP40.5 million from GBP23.5 million, as administrative expenses declined to GBP30.7 million from GBP45.1 million a year earlier.Future lost 6.1% as it warned of a slowdown in consumer spending.The magazine publisher said trading in the four-month period that ended on January 31 has been broadly in-line with expectations, but added that the market slowdown in audience numbers and consumer spending seen towards the end of its last financial year has continued, impacting the "growth of digital advertising and affiliate for products revenue, notably in the consumer technology vertical".Elsewhere in London, Speedy Hire plunged 12% as the tool and equipment hire services company said a count for its 2023 audit identified a GBP20.4 million deficiency in the value of its non-itemised assets. It has launched an external investigation into the issue, and said the deficiency is expected to be recorded as a one-off non-cash write down in its balance sheet for the year ending March 31.Speedy Hire also said it has closed 20 depots at the end of January, which will cost around GBP2.9 million. In European equities on Wednesday, the CAC 40 in Paris ended 0.2% lower, while the DAX 40 in Frankfurt ended up 0.6%.The euro stood at USD1.0734 at the European equities close on Wednesday, higher against USD1.0700 at the same time on Tuesday. Against the yen, the dollar was trading at JPY131.29, higher compared to JPY131.17 late Tuesday.Stocks in New York were in the red at the London equities close, with the Dow Jones Industrial Average down 0.2%, the S&P 500 index down 0.7%, and the Nasdaq Composite down 1.3%.Brent oil was quoted at USD84.01 a barrel at the London equities close on Wednesday, up from USD82.75 late Tuesday. Gold was quoted at USD1,878.10 an ounce, higher against USD1,875.35 at the close on Tuesday.In Thursday's UK corporate calendar, there are full-year results from pharmaceutical firm AstraZeneca, cigarette maker British American Tobacco, and consumer goods firm Unilever. In the economic calendar, there US will publish its weekly unemployment insurance claims report at 1330 GMT. By Heather Rydings, Alliance News senior economics reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.08/UK earnings, trading statements calendar - next 7 days.txt b/news/AZN/2023.02.08/UK earnings, trading statements calendar - next 7 days.txt new file mode 100644 index 0000000000000000000000000000000000000000..e69de29bb2d1d6434b8b29ae775ad8c2e48c5391 diff --git a/news/AZN/2023.02.09/ASTRAZENECA : Gets a Sell rating from Goldman Sachs.txt b/news/AZN/2023.02.09/ASTRAZENECA : Gets a Sell rating from Goldman Sachs.txt new file mode 100644 index 0000000000000000000000000000000000000000..623423fe4109da98e52a461589ef55da182e849c --- /dev/null +++ b/news/AZN/2023.02.09/ASTRAZENECA : Gets a Sell rating from Goldman Sachs.txt @@ -0,0 +1 @@ +Goldman Sachs is negative on the stock with a Sell rating. The target price continues to be set at GBX 6950. \ No newline at end of file diff --git a/news/AZN/2023.02.09/ASTRAZENECA : JP Morgan reiterates its Buy rating.txt b/news/AZN/2023.02.09/ASTRAZENECA : JP Morgan reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..c894cc42b385618182201d975044886803ffdcb2 --- /dev/null +++ b/news/AZN/2023.02.09/ASTRAZENECA : JP Morgan reiterates its Buy rating.txt @@ -0,0 +1 @@ +James Gordon from JP Morgan retains his positive opinion on the stock with a Buy rating. The target price continues to be set at GBX 13500. \ No newline at end of file diff --git a/news/AZN/2023.02.09/ASTRAZENECA : Jefferies sticks Neutral.txt b/news/AZN/2023.02.09/ASTRAZENECA : Jefferies sticks Neutral.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d78b4f281d6ae2970818563c81cc96d3b1abe6d --- /dev/null +++ b/news/AZN/2023.02.09/ASTRAZENECA : Jefferies sticks Neutral.txt @@ -0,0 +1 @@ +Jefferies analyst Peter Welford maintains his Neutral opinion on the stock. The target price is unchanged at GBX 10800. \ No newline at end of file diff --git a/news/AZN/2023.02.09/Analysis: Bayer's new CEO has a full in-tray as investors push for change.txt b/news/AZN/2023.02.09/Analysis: Bayer's new CEO has a full in-tray as investors push for change.txt new file mode 100644 index 0000000000000000000000000000000000000000..9a55fe8aa03c517ea980ebbe86eb702b1764d604 --- /dev/null +++ b/news/AZN/2023.02.09/Analysis: Bayer's new CEO has a full in-tray as investors push for change.txt @@ -0,0 +1 @@ +Top investors, including mutual funds group Deka, are among those to have complained that Bayer's sagging shares have been burdened by a lack of trust in the company's leadership, with others reckoning one easy fix would be to separate the healthcare and agricultural businesses.Bayer on Wednesday named long-time Roche executive Bill Anderson for the top job after months of shareholder pressure to remove embattled CEO Werner Baumann, who had previously said he would hold on until the end of his current term in April 2024.The nearly 160-year-old German company's Frankfurt shares rallied to their highest since June as investors welcomed the change, underscoring the depth of frustration about Baumann's lack of responsiveness to the concerns of major shareholders."The most important task for Bill Anderson is to regain investors' trust," said Markus Manns, a portfolio manager at Germany's Union Investment, a top 20 shareholder.He added that Anderson would also need to reconsider the group's structure and strengthen the drug development pipeline.Bayer's shares lag those of its global rivals, having fallen about 40% - knocking about 30 billion euros off its market valuation - since it bought Monsanto in 2018 for about $63 billion.Concerns about litigation over weedkiller Roundup continue to weigh on the share price, despite a recent string of courtroom victories, an improvement in the Crop Science unit's profit last year and better prospects in drug development.BREAK-UP, STOCK UP?Baumann's early exit has stirred debate about what the 56-year-old Anderson can do to restore investor trust and boost Bayer's shares.The American is an accomplished drug industry leader, particularly in oncology and ophthalmology, where Bayer has development ambitions."This may generate optimism from investors looking for an improvement in the Pharma business," Credit Suisse analysts said.But some investors, including activist Bluebell which disclosed it had bought a stake in Bayer last month, have demanded the sale or spin-off of the consumer health unit, which makes Aspirin painkillers and Clarityn allergy relief.They say it's a relatively quick way to remove at least some of the conglomerate discount, estimated by Credit Suisse on Wednesday at 40%.More of the discount could be eliminated by a separation of the much larger pharmaceutical and agriculture divisions because most money managers regard pure-play stocks as more attractive.JP Morgan said early last month, when the shares were trading at around 49 euros, that Bayer stock was about 36% cheaper than the sum of the value of its parts of 76 euros per share.Investment bankers say a separate listing or even the relocation to the United States of the Crop Science division, with 20 billion euros in 2021 sales, could give that unit's shares a further boost.They cite a more investor-friendly jurisdiction and specialised U.S. money managers who are more appreciative of the agribusiness, which generates most of its sales in the Americas.PHARMA STANDALONEPolitical sources and industry experts say moving the Crop Science division abroad would create fears of job cuts at home. A stand-alone pharmaceuticals business, with 18.3 billion euros in 2021 sales, could also become a takeover target.Labour representatives on Bayer's supervisory board, which have a say in strategic decisions thanks to Germany's co-determination laws, on Thursday weighed in against a break-up.But political intervention would likely be limited to efforts to save jobs rather than standing in the way of a deal for one of Germany's oldest companies, the sources said.Large takeovers have also become rare in the drug industry, with the exception of AstraZeneca's $39 billion purchase of Axelion in 2021."Megamergers are not so much on the agenda any more," said Mark Seidler, chief executive officer of consultancy firm Strategic Decisions Group.Uncertainty over promising new drug technologies made buyers look for a string of smaller assets to hedge their bets on future blockbuster drugs instead, he added. (Additional reporting by Matthias Inverardi; Editing by Josephine Mason and Kirsten Donovan)By Ludwig Burger and Patricia Weiss \ No newline at end of file diff --git a/news/AZN/2023.02.09/AstraZeneca CEO say UK business climate deters investment.txt b/news/AZN/2023.02.09/AstraZeneca CEO say UK business climate deters investment.txt new file mode 100644 index 0000000000000000000000000000000000000000..4c639f1a9c03cd1ba6cb0156ef03e90523c69e19 --- /dev/null +++ b/news/AZN/2023.02.09/AstraZeneca CEO say UK business climate deters investment.txt @@ -0,0 +1 @@ +CEO Pascal Soriot gave list of reasons why the UK government's ambition to be a global life sciences hub has hit snags, telling a news conference: "We want to invest in the UK... but we need to see supporting policies for the whole industry."While Britain has world-class research capabilities, he said it lacked other requirements to make it a life sciences centre - such as regulatory experts, manufacturing incentives, and access to green energy.Without those elements, he said, companies like his will need to develop drugs in other markets "where you know you're going to get access and you're going to get a price that can justify the investment"."In fact lately we've made a $400 million investment in a state of the art manufacturing facility which we wanted to make in this country and we made in Ireland because the tax rate was discouraging," he told the briefing. Adding to the appeal of Ireland, he said its government was "very committed," he added, to delivering green energy "very rapidly over the next few years".A spokesperson clarified the CEO had referred to a decision made in 2021 to invest in Ireland and said it was also linked to the UK government's Voluntary Scheme for Branded Medicines Pricing and Access (VPAS). The VPAS began in 2019 to help make drugs more affordable and returns a proportion of funds to the national health system (NHS) based on the sales of branded prescription medicines when a maximum sales growth rate is exceeded. (Reporting by Natalie Grover and Maggie FickEditing by Tomasz Janowski and Barbara Lewis)By Natalie Grover and Maggie Fick \ No newline at end of file diff --git a/news/AZN/2023.02.09/AstraZeneca PLC Full Year and Q4 2022 results.txt b/news/AZN/2023.02.09/AstraZeneca PLC Full Year and Q4 2022 results.txt new file mode 100644 index 0000000000000000000000000000000000000000..5818d04879e0accef0442a27b77237636759a37c --- /dev/null +++ b/news/AZN/2023.02.09/AstraZeneca PLC Full Year and Q4 2022 results.txt @@ -0,0 +1 @@ +Pascal Soriot, Chief Executive Officer, commenting on the results said:"2022 was a year of continued strong company performance and execution of our long-term growth strategy. We made excellent pipeline progress with a record 34 approvals in major markets and we are initiating new late-stage trials for high potential medicines such as camizestrant, datopotamab deruxtecan and volrustomig.In 2023, we expect to see another year of double-digit revenue growth at CER, excluding our COVID-19 medicines. We will continue to invest behind our pipeline and recent launches while continuing to improve profitability. We plan to initiate more than thirty Phase III trials this year, of which ten have the potential to deliver peak year sales over one billion dollars.Our R&D success and revenue increase in 2022 demonstrate that we are on track to deliver industry-leading revenue growth through 2025 and beyond, and have set AstraZeneca on a path to deliver at least fifteen new medicines before the end of the decade."Adrian KempCompany SecretaryAstraZeneca PLC.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.02.09/AstraZeneca Q4 revenue just shy of analyst estimates.txt b/news/AZN/2023.02.09/AstraZeneca Q4 revenue just shy of analyst estimates.txt new file mode 100644 index 0000000000000000000000000000000000000000..b008c654acf7f86ea27abbc9f8f410b87f12deee --- /dev/null +++ b/news/AZN/2023.02.09/AstraZeneca Q4 revenue just shy of analyst estimates.txt @@ -0,0 +1 @@ +The London-listed drugmaker, which reports its results in U.S. dollars, reported an adjusted profit of 1.38 cents per share on sales of about $11.2 billion. Analysts were expecting $1.34 per share on sales of about $11.3 billion, according to company-compiled consensus estimates. (Reporting by Natalie Grover and Maggie Fick; editing by Jason Neely) \ No newline at end of file diff --git a/news/AZN/2023.02.09/AstraZeneca swings to profit as Alexion adds to 2022 revenue.txt b/news/AZN/2023.02.09/AstraZeneca swings to profit as Alexion adds to 2022 revenue.txt new file mode 100644 index 0000000000000000000000000000000000000000..36090af773be57ad6fb9b02abd4f4ee653cb4ec9 --- /dev/null +++ b/news/AZN/2023.02.09/AstraZeneca swings to profit as Alexion adds to 2022 revenue.txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC on Thursday reported a swing to full-year profit and saw a double-digit revenue rise, despite a weaker fourth quarter.The Cambridge, England-based pharmaceutical firm said total revenue in 2022 rose by 19% to USD44.35 billion from USD37.42 billion a year before, or by 24% at constant currency. It noted that growth came from all therapy areas, as well as the addition of Alexion Pharmaceuticals, a US acquisition that was added to Astra accounts starting in July 2021. Product sales amounted to USD43.00 billion, up from USD36.54 million a year earlier. AstraZeneca swung to a pretax profit of USD2.50 billion from a loss of USD265 million, while core earnings per share jumped 26% to USD6.66. Operating profit surged to USD31.96 billion from USD24.98 billion a year ago. The pharmaceutical maker saw a weaker fourth quarter, however, as revenue fell by 7% to USD11.21 billion and core EPS fell by 17% to USD1.38. The lower revenue in the quarter was partly due to the decline in Vaxzevria, Astra said. Revenue excluding Vaxzevria rose 17%. Astra announced a second interim dividend of USD1.97 per share, taking its full-year dividend per share to USD2.90. This is marginally up from USD2.87 in 2021.Chief Executive Officer Pascal Soriot said: "2022 was a year of continued strong company performance and execution of our long-term growth strategy. We made excellent pipeline progress with a record 34 approvals in major markets and we are initiating new late-stage trials for high potential medicines such as camizestrant, datopotamab deruxtecan and volrustomig. Our research and development success and revenue increase in 2022 demonstrate that we are on track to deliver industry-leading revenue growth through 2025 and beyond, and have set AstraZeneca on a path to deliver at least fifteen new medicines before the end of the decade."Looking ahead, Astra expects revenue in 2023 to grow at low-to-mid single-digit percentages at constant currency, or by low double-digit percentages excluding Covid-19 medicines. Core EPS is expected to see high single-digit to low double-digit growth. Shares were up 2.5% at 11,018.00 pence each on Thursday morning in London. By Xindi Wei, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.09/AstraZeneca swings to profit; Unilever volumes fall.txt b/news/AZN/2023.02.09/AstraZeneca swings to profit; Unilever volumes fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..2b478cd423f57607f9b6aa47e38ea4197349b952 --- /dev/null +++ b/news/AZN/2023.02.09/AstraZeneca swings to profit; Unilever volumes fall.txt @@ -0,0 +1 @@ +(Alliance News) - Stocks in London were called to open higher on Thursday, as investors in Europe kept their cool, despite hawkish US central bankers and a weak finish on Wall Street. Sentiment in New York was undermined by the latest comments by a Federal Reserve official, seeming to indicated high interest rates could persist for "a few years". In comments reported by Bloomberg, Fed Vice Chair John Williams advocated for a "sufficiently restrictive stance of policy", adding that interest rates were "barely into restrictive territory"."We're going to need to maintain that for a few years to make sure we get inflation to 2%, and then eventually over time we'll get interest rates presumably back to more normal levels," Williams said.Fed Governor Christopher Waller added: "It might be a long fight, with interest rates higher for longer than some are currently expecting."Meanwhile, Minneapolis Fed President Neel Kashkari warned there was "not yet much evidence, in my judgment, that the rate hikes that we've done so far are having much effect on the labour market"."We need to bring the labour market into balance, so that tells me we need to do more.""So, the message is clear. The Fed is not done yet. This means that the rate hikes will continue, and that will continue pressuring the US yields higher as well," said Swissquote Bank's Ipek Ozkardeskaya.Meanwhile, Europe's largest economy saw inflation speed up slightly at the beginning of the year, according to preliminary figures released early Thursday. Destatis said consumer prices in Germany rose 1.0% in January from the month before, reversing a 0.8% monthly decline in December. Annual inflation ticked up to 8.7% from 8.6% at the end of 2022. On a harmonised basis - which allows for EU-wide comparison - prices rose 0.5% on a monthly basis, compared to a 1.2% fall in December. Harmonised annual inflation eased to 9.2% from 9.6% a month before, however. In early corporate news, AstraZeneca saw double-digit annual sales growth in 2022, despite a weaker fourth quarter, while Unilever said a fall in annual sales volumes is likely to persist into the first half of 2023. Here is what you need to know at the London market open: ----------MARKETS----------FTSE 100: called up 22.7 points, 0.3%, at 7,907.87----------Hang Seng: up 1.5% at 21,592.60Nikkei 225: closed down 0.1% at 27,584.35S&P/ASX 200: closed down 0.5% at 7,490.30----------DJIA: closed down 207.68 points, or 0.6%, at 33,949.01S&P 500: closed down 46.14 points, or 1.1%, at 4,117.86Nasdaq Composite: closed down 203.27 points, or 1.7%, at 11,910.52----------EUR: up at USD1.0738 (USD1.0734)GBP: up at USD1.2097 (USD1.2084)USD: flat at JPY131.28 (JPY131.29)GOLD: up at USD1,880.75 per ounce (USD1,878.10)OIL (Brent): up at USD85.17 a barrel (USD84.01)(changes since previous London equities close)----------ECONOMICS----------Thursday's key economic events still to come: 08:30 EST US unemployment insurance weekly claims report08:30 EST US weekly export sales16:30 EST US Foreign Central Bank holdings16:30 EST US federal discount window borrowings----------UK house prices are starting to reflect the shift in demand in the market, according to surveyors. Agreed sales, house prices and new instructions to sell homes remained on a downward trend in January, the Royal Institution of Chartered Surveyors said. Property professionals' expectations suggest this picture is likely to remain in place for a while longer as the market adjusts to higher interest rates, Rics' report added. A net balance of 47% of surveyors reported seeing a fall rather than an increase in new buyer inquiries, deteriorating from a balance of 40% who saw this the previous month. ----------Civil servants working in the UK government's biggest department start 20 days of strikes as part of the long-running dispute over pay, jobs, pensions and conditions. Members of the Public & Commercial Services union working for the Department for Work & Pensions in a number of jobcentres and other offices will be involved in the action. The PCS said around 500 of its members in Bolton and Stockport and 170 in jobcentres in Liverpool will strike in the coming weeks.----------BROKER RATING CHANGES----------Berenberg starts Ashtead Technology with 'buy' - price target 405 pence ----------Barclays starts Ithaca Energy with 'underweight' - price target 140 pence ----------HSBC cuts Hiscox to 'hold' (buy) - price target 1,250 (1,150) pence ----------COMPANIES - FTSE 100----------British American Tobacco said revenue rose 7.7% in 2022, reaching GBP27.66 billion from GBP25.68 billion, with GBP2.89 billion coming from New Categories, which saw 41% growth. Pretax profit edged up to GBP9.32 billion from GBP9.16 billion. Looking ahead to 2023, BAT expects global tobacco industry volume to fall by around 2%. The Dunhill cigarette maker expects 3% to 5% organic constant currency revenue growth, with strong growth expected in New Categories, which includes heated and vaping products. It expects mid-single figure constant currency adjusted earnings per share growth, which will be weighted towards the second half. CEO Jack Bowles expects the macro-economic environment to "remain challenging", but is confident of delivering "long-term sustainable value" for BAT's shareholders. ----------AstraZeneca said total revenue in 2022 rose by 19% to USD44.35 billion from USD37.42 billion a year before, or by 24% at constant currency. Growth came from all therapy areas, as well as the addition of Alexion. Astra swung to a pretax profit of USD2.50 billion from a loss of USD265 million, while core earnings per share jumped 26% to USD6.66. The pharmaceutical maker saw a weaker fourth quarter, however, as revenue fell by 7% to USD11.21 billion and core EPS fell by 17% to USD1.38. The lower revenue in the quarter was partly due to the decline in Vaxzevria, Astra said. Revenue excluding Vaxzevria rose 17%. Looking ahead, Astra expects revenue in 2023 to grow at low-to-mid single-digit percentages at constant currency, or by low double-digit percentages excluding Covid-19 medicines. Core EPS is expected to see high single-digit to low double-digit growth. ----------Consumer goods firm Unilever said annual turnover rose 15% year-on-year to EUR60.07 billion from EUR52.44 billion, as pretax profit rose 21% to EUR10.34 billion from EUR8.56 billion. Underlying sales growth was 9.0%, driven by price growth, given that volumes fell 2.1%. In 2023, Unilever expects to deliver strong underlying sales growth and improving volume performance. It said net material inflation in the first half is expected to be around EUR1.5 billion, but will be "significantly lower" in the second half. It expects underlying price growth to remain high and volumes to fall in the first half, but said it is "too early to say" whether volumes will see positive growth in the second half. Unilever expects 2023 underlying sales growth to be at least in the upper half of a 3% to 5% range. "Despite sharp rises in material costs, we have prioritised stepping up our brand and marketing investment," said CEO Alan Jope. ----------COMPANIES - FTSE 250----------Watches of Switzerland reported double-digit growth in its financial third quarter ended January 29, as revenue rose 17% year-on-year to GBP407 million from GBP348 million. This was driven by luxury watches, "where demand continues to exceed supply". The firm remains confident of delivery long-term growth. For the whole of financial 2023, Watches expects to bring in revenue of GBP1.50 billion to GBP1.55 billion, with adjusted earnings before interest and tax to be between GBP163 million to GBP175 million. The guidance is on a pre-IFRS 16 basis, with a constant exchange rate applied to the fourth quarter. CEO Brian Duffy reports the firm's expansion into Europe is seeing "positive" early trading. ----------OTHER COMPANIES----------Japan's Toyota Motor left its annual forecasts unchanged despite ongoing disruption from the global chip shortage. The world's top-selling automaker, which reshuffled its executive line-up last month, is still suffering production setbacks caused by the semiconductor shortage along with other industry players. But it said it still expects net profit of JPY2.36 trillion, about USD18 billion, in the 12 months to March 2023, down 17% on-year. Toyota logged a third-quarter net profit of JPY727.9 billion, down 8% on-year, and for April-December, net profit dropped 18% to JPY1.90 trillion. Sales revenue rose 18% to JPY27.464 trillion from JPY23.267 trillion. ----------By Elizabeth Winter, Alliance News senior markets reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.09/Astrazeneca : Full Year and Q4 2022 results announcement.txt b/news/AZN/2023.02.09/Astrazeneca : Full Year and Q4 2022 results announcement.txt new file mode 100644 index 0000000000000000000000000000000000000000..29ac7a461b7710ec1dc82bdafca6b1fc6f25af2a --- /dev/null +++ b/news/AZN/2023.02.09/Astrazeneca : Full Year and Q4 2022 results announcement.txt @@ -0,0 +1,2764 @@ + + + + + AstraZeneca + + + 9 February 2023 07:00 GMT + + + Full year and Q4 2022 results + + + Strong performance and pipeline progress in 2022 underpins 2023 outlook On track to deliver industry-leading revenue growth through 2025 and beyond + + + + + + Revenue and EPS summary + + + +Product Sales + + +Collaboration Revenue Total Revenue Reported2 EPS3 Core4 EPS + + + + + + + + + + + FY 2022 + + + + + + + + + Q4 2022 + + + + + + + + + + + % Change + + + + + + + + + % Change + + + + + + + + + $m + + + + + Actual + + + + + CER1 + + + + + $m + + + + + Actual + + + + + CER + + + + + + + 42,998 + + + + + 18 + + + + + 24 + + + + + 10,798 + + + + + (6) + + + + + 2 + + + + + + + 1,353 + + + + + 54 + + + + + 56 + + + + + 409 + + + + + (20) + + + + + (19) + + + + + + + 44,351 + + + + + 19 + + + + + 25 + + + + + 11,207 + + + + + (7) + + + + + 1 + + + + + + + $2.12 + + + + + n/m + + + + + n/m + + + + + $0.58 + + + + + n/m + + + + + n/m + + + + + + + $6.66 + + + + + 26 + + + + + 33 + + + + + $1.38 + + + + + (17) + + + + + (5) + + + + + + + + +Financial performance (FY 2022 figures unless otherwise stated, growth numbers and commentary at CER) + + + +Total Revenue increased 25% to $44,351m, with growth coming from all therapy areas, and from the addition of Alexion, which was incorporated into the Group's results from 21 July 2021 + + +Total Revenue in the fourth quarter was impacted by the decline in Vaxzevria. Excluding Vaxzevria, Total Revenue in the quarter increased 17% + + +Oncology Total Revenue including milestone receipts increased 20%; Oncology Product Sales increased 19%. Total Revenue CVRM5 increased 19%6, R&I7 increased 3%, and Rare Disease increased 10%6 + + +Core Gross Margin of 80%, up six percentage points, reflecting the lower revenue from Vaxzevria and the increased share of Oncology and Rare Disease medicines. Core Gross Margin of 77% in the fourth quarter was impacted by inventory write downs and manufacturing termination fees for Evusheld + + +Core Total Operating Expense increased 23%, reflecting the addition of Alexion, and continued investment in new launches and the pipeline to deliver sustainable long-term growth + + +Core Operating Margin of 30%, up four percentage points + + +Core EPS increased 33% to $6.66. Second interim dividend declared of $1.97 per share, making a total dividend declared for FY 2022 of $2.90 for the year. The Core Tax Rate for the year was 17%, reflecting IP incentive regimes, geographical mix of profits and adjustments to prior year tax liabilities + + + + FY 2023 Guidance summary (Growth numbers at CER) + + + +Total Revenue is expected to increase by a low-to-midsingle-digit percentage + + +Total Revenue excluding COVID-19 medicines8 is expected to increase by a low double-digit percentage + + +Core EPS is expected to increase by a high single-digit to low double-digit percentage + + + + Pascal Soriot, Chief Executive Officer, AstraZeneca, said: + + + "2022 was a year of continued strong company performance and execution of our long-term growth strategy. We made excellent pipeline progress with a record 34 approvals in major markets and we are initiating new late-stage trials for high potential medicines such as camizestrant, datopotamab deruxtecan and volrustomig. + + + In 2023, we expect to see another year of double-digit revenue growth at CER, excluding our COVID-19 medicines. We will continue to invest behind our pipeline and recent launches while continuing to improve profitability. We plan to initiate more than thirty Phase III trials this year, of which ten have the potential to deliver peak year sales over one billion dollars. + + + Our R&D success and revenue increase in 2022 demonstrate that we are on track to deliver industry-leading revenue growth through 2025 and beyond, and have set AstraZeneca on a path to deliver at least fifteen new medicines before the end of the decade." + + + 1 + + + + + + Key milestones achieved since the prior results + + + +Key regulatory approvals: US approval for Airsupra (PT027) in asthma. EU approvals for Lynparza9 in mCRPC10 (PROpel), Enhertu in gastric cancer (DESTINY-Gastric01) and HER211-low breast cancer (DESTINY-Breast04),Imfinzi in biliary tract cancer (TOPAZ-1),Imfinzi+Imjudo in HCC12 and Forxiga in heart failure with preserved ejection fraction. Five approvals in Japan, including Imfinzi and Imjudo in liver cancer (TOPAZ-1) and NSCLC13 (POSEIDON) and Calquence for treatment-naïve CLL (ELEVATE-TN) + + +Other regulatory milestones: US Fast Track designations for capivasertib in HR-positiveHER2-negative breast cancer (CAPItello-291), tozorakimab in treatment/prevention of acute respiratory failure in patients with viral lung infection (TILIA), and Orpathys plus Tagrisso in NSCLC with MET14 overexpression (SAVANNAH/SAFFRON); US Orphan Drug Designation for Saphnelo in idiopathic inflammatory myopathies; US Emergency Use Authorisation for Evusheld revised - as of January 2023, Evusheld is not currently authorised for use in the US. + + + + Guidance + + + The Company provides guidance for FY 2023 at CER, based on the average exchange rates through 2022. + + + Total Revenue is expected to increase by a low-to-midsingle-digit percentage + + + Excluding COVID-19 medicines, Total Revenue is expected to increase by a low double-digit percentage + + + Core EPS is expected to increase by a high single-digit to low double-digit percentage + + + +While challenging to forecast, Total Revenue from COVID-19 medicines (Vaxzevria, Evusheld and AZD3152, the COVID-19 LAAB15 currently in development) is expected to decline significantly in FY 2023, with minimal revenue from Vaxzevria + + +Total Revenue from China is expected to return to growth and increase by a low single-digit percentage in FY 2023 + + +Collaboration Revenue and Other Operating Income are both expected to increase, driven by continued growth of our partnered medicines, success-based milestones, and certain anticipated transactions + + +Core Operating Expenses are expected to increase by a low-to-midsingle-digit percentage, driven by investment in recent launches and the ungating of new trials + + +The Core Tax Rate is expected to be between 18-22% + + + + The Company is unable to provide guidance on a Reported basis because it cannot reliably forecast material elements of the Reported result, including any fair value adjustments arising on acquisition-related liabilities, intangible asset impairment charges and legal settlement provisions. Please refer to the cautionary statements section regarding forward-looking statements at the end of this announcement. + + + Currency impact + + + If foreign exchange rates for February to December 2023 were to remain at the average rates seen in January 2023, it is anticipated that FY 2023 Total Revenue and FY 2023 Core EPS would both incur a low single-digit adverse impact versus the performance at CER. + + + The Company's foreign exchange rate sensitivity analysis is provided in Table 17. + + + 2 + + + + + + Table 1: Key elements of Total Revenue performance in Q4 2022 + + + + + + Revenue type + + + Product Sales + + + Collaboration Revenue + + + Total Revenue + + + Therapy areas + + + Oncology + + + CVRM6 + + + R&I + + + V&I18 + + + Rare Disease6 + + + Other Medicines + + + Total Revenue + + + Regions inc. Vaxzevria + + + Emerging Markets + + + +China + + +Ex-ChinaEmerging Markets + US Europe Established RoW + Total Revenue inc. Vaxzevria + + + + + + + + + + + % Change + + + + + + + + + + + + + $m + + + + + Actual + + + + + CER + + + + + + + + + + + 10,798 + + + + + (6) + + + + + 2 + + + + + + + Decline of 6% (2% increase at CER) due to lower + + + + + + + + + + + + + + + sales of Vaxzevria16 + + + + + + + + + + + + + + + Strong growth in Oncology, CVRM and Rare + + + + + + + + + + + + + + + Disease + + + + + + + 409 + + + + + (20) + + + + + (19) + + + + + + + $188m for Enhertu (Q4 2021: $60m) + + + + + + + + + + + + + + + $37m for Tezspire (Q4 2021: $nil) + + + + + + + + + + + + + + + Milestone of $105m for Lynparza + + + + + + + 11,207 + + + + + (7) + + + + + 1 + + + + + + + Excluding Vaxzevria, Q4 2022 Total Revenue + + + + + + + + + + + + + + + increased by 8% (17% at CER) - see below + + + + + + + + + + + + + + + + + + + + + $m + + + + + Actual + + + + + CER + + + + + + + + + + + 4,046 + + + + + 4 + + + + + 12 + + + + + + + Strong performance across key medicines and + + + + + + + + + + + + + + + regions + + + + + + + 2,284 + + + + + 12 + + + + + 22 + + + + + + + Farxiga up 39% (52% CER), Lokelma up 50% + + + + + + + + + + + + + + + (63% at CER), roxadustat up 61% (83% CER), + + + + + + + + + + + + + + +Brilinta decreased 1% (increased 4% at CER) + + + + + + + 1,485 + + + + + (7) + + + + + (1) + + + + + + + Growth in Fasenra, Breztri and Saphnelo offset + + + + + + + + + + + + + + + by decline in Pulmicort of 33% (28% at CER) + + + + + + + + + + + + + + + primarily due to the impact of VBP17 + + + + + + + + + + + + + + + implementation in China + + + + + + + 1,163 + + + + + (50) + + + + + (43) + + + + + + + $734m from Evusheld (Q4 2021: $135m) + + + + + + + + + + + + + + + $95m from Vaxzevria (Q4 2021: $1,762m) + + + + + + + 1,816 + + + + + 4 + + + + + 10 + + + + + + + Ultomiris up 52% (62% at CER) as gMG launch + + + + + + + + + + + + + + + and conversion progressed; offset by decline in + + + + + + + + + + + + + + + Soliris + + + + + + + + + + + + + + + Strensiq up 24% (27% at CER) reflecting + + + + + + + + + + + + + + + strength of patient demand and geographic + + + + + + + + + + + + + + + expansion + + + + + + + 412 + + + + + (2) + + + + + 12 + + + + + + + + + + + 11,207 + + + + + (7) + + + + + 1 + + + + + + + + + + + + + $m + + + + + Actual + + + + + CER + + + + + + + + + + + 2,733 + + + + + (25) + + + + + (18) + + + + + + + Decline due to lower sales of Vaxzevria (growth + + + + + + + + + + + + + + + rates excluding Vaxzevria shown below) + + + + + + + 1,194 + + + + + (9) + + + + + 3 + + + + + + + Second consecutive quarter of growth at CER + + + + + + + 1,538 + + + + + (35) + + + + + (29) + + + + + + + Decline due to lower sales of Vaxzevria + + + + + + + 4,788 + + + + + 22 + + + + + 22 + + + + + + + + + + + 2,308 + + + + + (20) + + + + + (8) + + + + + + + Decline due to lower sales of Vaxzevria + + + + + + + 1,378 + + + + + (11) + + + + + 8 + + + + + + + + + + + 11,207 + + + + + (7) + + + + + 1 + + + + + + + + + + + + + + Regions exc. Vaxzevria + + + Emerging Markets + + + +China + + +Ex-ChinaEmerging Markets + + + + US Europe Established RoW + + + Total Revenue exc. Vaxzevria + + + + + + + + $m + + + + + Actual + + + + + CER + + + + + + + 2,678 + + + + + 7 + + + + + 18 + + + + + + + 1,194 + + + + + (8) + + + + + 4 + + + + + + + 1,484 + + + + + 24 + + + + + 33 + + + + + + + 4,788 + + + + + 24 + + + + + 24 + + + + + + + 2,268 + + + + + (12) + + + + + 1 + + + + + + + 1,378 + + + + + 4 + + + + + 27 + + + + + + + 11,112 + + + + + 8 + + + + + 17 + + + + + + + + + + + + + + + + +Second consecutive quarter of growth at CER + + +Strong growth in Oncology and CVRM + + +$246m from Evusheld in Q4 (Q4 2021: $69m) + + +Growth in Oncology medicines + + + + + + + 3 + + + + + + + Table 2: Key elements of financial performance in Q4 2022 + + + + + + Metric + + + + + Reported + + + + + Reported + + + + + Core + + + + + Core + + + + + + + + + + + change + + + + + + + change + + + + + + + + + + + + + + + + + + + Total + + + + + $11,207m + + + + + -7% Actual + + + + + $11,207m + + + + + -7% Actual + + + + + + + Revenue + + + + + 1% CER + + + + + 1% CER + + + + + + + + + + + + + + + + + + + + + + + + + + + Gross + + + + + 73% + + + + + 13pp Actual + + + + + 77% + + + + + 3pp Actual + + + + + + + margin20 + + + + + 15pp CER + + + + + 4pp CER + + + + + + + + + + + + + + + R&D + + + + + $2,625m + + + + + 2% Actual + + + + + $2,526m + + + + + 5% Actual + + + + + + + expense + + + + + 9% CER + + + + + 12% CER + + + + + + + + + + + + + + + + + + + + + + + + + SG&A + + + + + $4,621m + + + + + -10% Actual + + + + + $3,583m + + + + + 6% Actual + + + + + + + expense + + + + + -3% CER + + + + + 15% CER + + + + + + + + + + + + + + + + + + + + + + + + + Other + + + + + + + 29% Actual + + + + + + + -11% Actual + + + + + + + operating + + + + + $189m + + + + + $130m + + + + + + + 33% CER + + + + + -7% CER + + + + + + + income21 + + + + + + + + + + + + + + + + + + + + + Operating + + + + + 10% + + + + + 12pp Actual + + + + + 23% + + + + + -4pp Actual + + + + + + + margin + + + + + 14pp CER + + + + + -3pp CER + + + + + + + + + + + + + + + + + + + + + + + + + Net finance + + + + + $315m + + + + + -6% Actual + + + + + $245m + + + + + 5% Actual + + + + + + + expense + + + + + stable at CER + + + + + 9% CER + + + + + + + + + + + + + + + + + + + + + + + + + Tax rate + + + + + -16% + + + + + n/m + + + + + 10% + + + + + -7pp Actual + + + + + + + -6pp CER + + + + + + + + + + + + + + + + + + + + + + + + + + + + + EPS + + + + + $0.58 + + + + + n/m + + + + + $1.38 + + + + + -17% Actual + + + + + + + -5% CER + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Comments19 + + + +Excluding Vaxzevria, Q4 2022 Total Revenue increased by 8% (17% at CER) + + +See Table 1 and the Total Revenue section of this document for further details + + + + +Increasing mix of sales from Oncology and Rare Disease medicines + + +Decreasing mix of Vaxzevria sales + + + + +Negative impact in the quarter from currency fluctuations + + +Inventory write downs and manufacturing termination fees relating to Evusheld reduced Gross Profit by $335m in Q4 2022 + + +Mix impact from profit-sharing arrangements (e.g. Lynparza) + + +Reported Gross Margin impacted by unwind of Alexion inventory fair value adjustment + + + + + Increased investment in the pipeline + + + +Core R&D-to-Total Revenue ratio of 23% (Q4 2021: 20%) + + + + +Market development activities for recent launches + + +Core SG&A-to-Total Revenue ratio of 32% (Q4 2021: 28%). The year-on-year comparison is impacted by differences in cost phasing during H2 2021 and H2 2022 + + + + +Reported and Core OOI includes income from sale of the Waltham site + + +See Gross Margin and Expenses commentary above + + +Reported impacted by a reduction in the discount unwind on acquisition-related liabilities + + +The Reported and Core Tax Rates in the quarter reflected IP incentive regimes, geographical mix of profits and adjustments to prior year tax liabilities including several one-time items + + +Variations in the tax rate can be expected to continue quarter to quarter + + +Further details of differences between Reported and Core are shown in Table 12 + + + + 4 + + + + + + + Table 3: Pipeline highlights since prior results announcement + + + + + + Event + + + + + Medicine + + + + + Indication / Trial + + + + + Event + + + + + + + + + + + + + + + + + + + Imfinzi +/- Imjudo + + + + + NSCLC (1st-line) (POSEIDON) + + + + + Regulatory approval (US, JP) + + + + + + + + + Imfinzi + Imjudo + + + + + Hepatocellular carcinoma (1st-line) + + + + + Regulatory approval (JP) + + + + + + + + + + + (HIMALAYA) + + + + + + + + + + + + + + + + + + + + + + Imfinzi + + + + + + + Regulatory + + + + + Lynparza + + + + + + + + + + + approvals and + + + + + Enhertu + + + + + + + other regulatory + + + + + + + actions + + + + + Enhertu + + + + + + + + + + + + + Enhertu + + + + + + + + Biliary tract cancer (TOPAZ-1) mCRPC (1st-line) (PROpel) + + + HER2-positive breast cancer (2nd-line)(DESTINY-Breast03) + + + HER2-low breast cancer (3rd-line)(DESTINY-Breast04)HER2-positive/HER2-low gastric (2nd-line)(DESTINY-Gastric01,DESTINY-Gastric02) + + + + + Regulatory approval (EU, JP) Regulatory approval (EU) + + + Regulatory approval (JP) + + + Regulatory approval (EU) + + + Regulatory approval (EU) + + + + + + + + + + + Calquence + + + + + CLL22 (ELEVATE-TN) + + + + + Regulatory approval (JP) + + + + + + + + + Calquence + + + + + Maleate tablet formulation + + + + + Regulatory approval (EU) + + + + + + + + + Forxiga + + + + + HFpEF23 (DELIVER) + + + + + Regulatory approval (EU, JP) + + + + + + + + + Airsupra + + + + + Severe asthma (MANDALA/DENALI) + + + + + Regulatory approval (US) + + + + + + + + + Tezspire + + + + + Pre-filled pen + + + + + Regulatory approval (US, EU) + + + + + + + + + + + + + + + + + + + Enhertu + + + + + HER2-mutated NSCLC (2nd-line+) + + + + + Regulatory submission (EU, JP) + + + + + + + Regulatory + + + + + (DESTINY-Lung01) + + + + + + + + + + + + + submissions + + + + + Calquence + + + + + CLL (ASCEND) + + + + + Regulatory submission (CN) + + + + + + + or acceptances + + + + + Beyfortus + + + + + RSV24 (MELODY/MEDLEY) + + + + + Regulatory submission (US) + + + + + + + + + Soliris + + + + + NMOSD25 + + + + + Regulatory submission (CN) + + + + + + + + + Imfinzi + + + + + NSCLC (1st-line) (PEARL) + + + + + Primary endpoint not met + + + + + + + + + capivasertib + + + + + HR26+/HER2-negative breast cancer + + + + + Fast Track Designation (US) + + + + + + + + + (1st-line)(CAPItello-291) + + + + + + + + + + + + + + + + + Orpathys + + + + + + NSCLC with MET overexpression + + + + + Fast Track Designation (US) + + + + + + + + + Tagrisso + + + + + (SAVANNAH/SAFFRON) + + + + + + + Major Phase III + + + + + + + + + data readouts + + + + + + + Treatment/prevention of acute + + + + + + + + + and other + + + + + tozorakimab + + + + + respiratory failure in patients with viral + + + + + Fast Track Designation (US) + + + + + + + developments + + + + + + + lung infection (TILIA) + + + + + + + + + + + Saphnelo + + + + + Idiopathic inflammatory myopathies + + + + + Orphan Drug Designation (US) + + + + + + + + + + + + + Revision of Emergency Use + + + + + + + + + Evusheld + + + + + Pre-exposure prophylaxis of COVID-19 + + + + + Authorisation (US) - Evusheld is not + + + + + + + + + currently authorised in the US until + + + + + + + + + + + + + + + + + + + + + further notice from the FDA27 + + + + + + 5 + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +AstraZeneca plc published this content on 09 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2023 07:12:41 UTC. + + diff --git a/news/AZN/2023.02.09/Astrazeneca : Full Year and Q4 2022 results clinical trials appendix.txt b/news/AZN/2023.02.09/Astrazeneca : Full Year and Q4 2022 results clinical trials appendix.txt new file mode 100644 index 0000000000000000000000000000000000000000..00c9b435095e1522d95714c16c100c4ba8820954 --- /dev/null +++ b/news/AZN/2023.02.09/Astrazeneca : Full Year and Q4 2022 results clinical trials appendix.txt @@ -0,0 +1,1399 @@ + + + + Clinical Trials Appendix + + + Q4 2022 Results Update + + + + + + Upcoming pipeline catalysts: 2023 and 2024 + + +Oncology BioPharmaceuticals Rare Disease + + + + + + H1 2023 + + + + + H2 2023 + + + + + 2024 + + + + + + + + + Regulatory decision + + + + +Imfinzi + Imjudo - hepatocellular carcinoma (1L) (HIMALAYA) (EU) Imfinzi +/- Imjudo - NSCLC (1L) (POSEIDON) (EU) + + +Lynparza - prostate cancer (1L) (PROpel) (US, JP) + + +Enhertu - HER2+ breast cancer (2L) (DESTINY-Breast03) (CN) Enhertu - HER2-low breast cancer (3L) (DESTINY-Breast04) (JP) Farxiga - HFpEF (DELIVER) (US) + + +Beyfortus - respiratory syncytial virus (US) Ultomiris - NMOSD (CHAMPION-NMOSD) + + + + +Enhertu - HER2m NSCLC (2L+) (DESTINY-Lung01) (EU, JP) Enhertu - HER2-low breast cancer (3L) (DESTINY-Breast04) (CN) Calquence - CLL (ASCEND) (CN) + + +Forxiga - HFpEF (DELIVER) (CN) Soliris - gMG (CN) + + +Soliris - NMOSD (CN) + + +Koselugo - NF1-PN (SPRINT) (CN) + + + + + + + Regulatory submission and/or acceptance + + + + +Lynparza - gBRCA breast cancer (adjuvant) (OlympiA) (CN) Enhertu - HER2+ breast cancer (3L) (DESTINY-Breast02)capivasertib - HR+/HER2- breast cancer (1L) (CAPItello-291)Dato-DXd - NSCLC (3L) (TROPION-Lung01) + + +eplontersen - hATTR-PN(NEURO-TTRansform) (US) Beyfortus - respiratory syncytial virus (JP, CN) Evusheld - COVID-19 (TACKLE/PROVENT) (CN) danicopan - PNH with extravascular haemolysis + + + + +Tagrisso - EGFRm NSCLC (1L) (FLAURA2) + + +Tagrisso - EGFRm NSCLC (unresectable Stg. III) (LAURA) Imfinzi - NSCLC (neoadjuvant) (AEGEAN) + + +Imfinzi - liver cancer (adjuvant) (EMERALD-2)Imfinzi - bladder cancer (muscle invasive) (NIAGARA) Imfinzi - biliary tract cancer (TOPAZ-1) (CN) + + +Imfinzi - bladder cancer (1L) (NILE) + + +capivasertib - TNBC (locally adv./met.) (CAPItello-290)AZD3152 - prevention of COVID-19 (SUPERNOVA) ALXN1840 - Wilson disease + + + + + + + +Tagrisso - EGFRm NSCLC (resectable, Stg. II/III) (NeoADAURA) + + + + +Calquence - MCL (1L) (ECHO) + + + + + + +Imfinzi + Imjudo - hepatocellular carcinoma (1L) (HIMALAYA) (CN) + + + + +camizestrant - HR+/HER2-neg breast cancer (SERENA-6) + + + + + + +Imfinzi - NSCLC (unresectable, Stg. III) (PACIFIC-2) + + + + +roxadustat - anaemia of myelodysplastic syndrome) + + + + + + +Imfinzi - liver cancer (locoregional) (EMERALD-1) + + + + +tozorakimab - acute respiratory failure (TILIA) + + + + + + +Imfinzi - SCLC (limited-stage) (ADRIATIC) + + + + +Breztri - severe asthma (KALOS) + + + + + + +Lynparza - ovarian cancer (1L) (DUO-O) + + + + +Breztri - severe asthma (LOGOS) + + + + + + +Lynparza - endometrial cancer (1L) (DUO-E) + + + + +Fasenra - bullous pemphigoid (FJORD) + + + + + + +Lynparza - prostate cancer (1L) (PROpel) (CN) + + + + +Fasenra - EGPA (MANDARA) + + + + + + +Enhertu - HER2+/HER2low gastric 3L (DESTINY-Gastric01) (CN) + + + + +Fasenra - HES (NATRON) + + + + + + +Enhertu - HER2+ gastric (2L) (DESTINY-Gastric04) + + + + +acoramidis - ATTR-CM(ALXN2060-TAC-302) + + + + + + +Enhertu - HER2-low breast cancer (2L) (DESTINY-Breast06) + + + + +anselamimab - AL amyloidosis (CAEL101-302) + + + + + + +Enhertu - High-risk HER2+ early breast cancer (non-met.) + + + + + + + + + (DESTINY-Breast11) + + + + + + + + + + + + Key Phase III data readouts + + + + + + + +Tagrisso - EGFRm NSCLC (1L) (FLAURA2) + + + + +Tagrisso - EGFRm NSCLC (unresectable Stg. III) (LAURA) + + + + +Tagrisso - EGFRm NSCLC (resectable, Stg. II/III) (NeoADAURA) + + + + + Fasenra - CRwNP (ORCHID) + + + + + + +Imfinzi - NSCLC (neoadjuvant) (AEGEAN) + + + + +Imfinzi - NSCLC (unresectable, Stg. III) (PACIFIC-2) + + + + +Lynparza - PARP 1L BRCAwt ovarian cancer (MONO-OLA1) + + + + +Fasenra - bullous pemphigoid (FJORD) + + + + + + +Lynparza - ovarian cancer (1L) (DUO-O) + + + + +Imfinzi - SCLC (limited-stage)(ADRIATIC) + + + + +Enhertu - High-risk HER2+ early breast cancer (non-met.) + + + + +Saphnelo - moderate to severe SLE (TULIP-SC) + + + + + + +Dato-DXd - NSCLC (3L) (TROPION-Lung01) + + + + +Imfinzi - liver cancer (locoregional) (EMERALD-1) + + + + + (DESTINY-Breast11) + + + + +Tezspire - chronic rhinosinusitis with nasal polyps + + + + + + +roxadustat - anaemia of myelodysplastic syndrome + + + + +Imfinzi - liver cancer (adjuvant) (EMERALD-2) + + + + +Enhertu - HER2+ gastric (2L) (DESTINY-Gastric04) + + + + + (WAYPOINT) + + + + + + + + +Imfinzi - bladder cancer (muscle invasive) (NIAGARA) + + + + +Calquence - MCL (1L) (ECHO) + + + + +Tezspire - severe asthma (DIRECTION) + + + + + + + + +Imfinzi - bladder cancer (1L) (NILE) + + + + +Orpathys - NSCLC with MET exon 14 mutations (locally adv./met.) + + + + +Ultomiris - HSCT-TMA (ALXN1210-TM-313) + + + + + + + + +Lynparza - endometrial cancer (1L) (DUO-E) + + + + +camizestrant - HR+/HER2- breast cancer (SERENA-6) + + + + +Ultomiris - paedeatric HSCT-TMA(ALXN1210-TM-314) + + + + + + + + +Enhertu - HER2-low breast cancer (2L) (DESTINY-Breast06) + + + + +Dato-DXd - TNBC (locally recurrent inop./met.) + + + + + Koselugo - NF1-PN (KOMET) + + + + + + + + +capivasertib - TNBC (locally adv./met.) (CAPItello-290) + + + + + (TROPION-Breast02) + + + + +acoramidis - ATTR-CM (ALXN2060-TAC-302) + + + + + + + + +Farxiga - myocardial infarction (DAPA-MI) + + + + +tozorakimab - acute respiratory failure (TILIA) + + + + +anselamimab - AL amyloidosis (CAEL101-302) + + + + + + + + +Fasenra - EGPA (MANDARA) + + + + +Breztri - severe asthma (KALOS) + + + + + + + + + + + Fasenra - HES (NATRON) + + + + +Breztri - severe asthma (LOGOS) + + + + + + + + + + +AZD3152 - prevention of COVID-19(SUPERNOVA) + + + + + + + + + + + + + 2 + + + + + Appendix: Glossary. + + + + + + + Clinical Trials Appendix: selected highlights + + + + + + Approved medicines: key LCM + + + Next-wave pipeline + + + + + + + + BioPharmaceuticals + + + + + Oncology + + + + + Rare Disease + + + + + + + + + + + Dato-DXd (TROP2 ADC) + + + + + + + tozorakimab (IL-33) + + + + + + + + + + + volrustomig (PD-1/CTLA-4) + + + + + + + AZD3152 (COVID-19 LAAB) + + + + + vemircopan (oral Factor D) + + + + + + + + + capivasertib (AKT) + + + + + + + eplontersen (LICA) + + + + + gefurulimab (C5 mini-body) + + + + + + + + + camizestrant (ngSERD) + + + + + + + mitiperstat (MPO) + + + + + ALXN1850 (ngHPP) + + + + + + + + + rilvegostomig (PD-1/TIGIT) + + + + + + + cotadutide (GLP-1/glucagon) + + + + + + + + + + + AZD5305 (PARP-1sel) + + + + + + + + + 3 + + + + + Appendix: Glossary. + + + + + + + Movements since Q3 2022 update + + + + + + New to Phase I + + + + + New to Phase II + + + + + New to Pivotal trial + + + + + New to registration + + + + + + + NME + + + + + NME + + + + + NME + + + + + + + + + AZD0186# + + + + + MEDI1341# + + + + + AZD3152¶ + + + + + + + + + GLP-1R agonism type-2 diabetes + + + + + alpha synuclein mAb multiple system + + + + + SARS-CoV-2 LAAB prevention of COVID-19 + + + + + + + + + + + atrophy/Parkinson's disease + + + + + + + + + + + AZD6793 + + + + + + + ceralasertib + Imfinzi LATIFY# + + + + + + + + + IRAK4 inhibitor inflammatory diseases + + + + + rilvegostomig (AZD2936) ARTEMIDE-1# + + + + + ATR inhibitor + PDL-1 mAb non-small cell lung + + + + + + + + + + + PD-1/TIGIT bispecific mAb solid tumours + + + + + cancer + + + + + + + + + AZD9592 + + + + + + + + + + + + + EGFR/cMET solid tumours + + + + + Additional indication + + + + + gefurulimab + + + + + + + + + + + mitiperstat# + + + + + humanised bispecific VHH antibody generalised + + + + + + + + + + + myeloperoxidase COPD + + + + + myasthenia gravis + + + + + + + + + + + mitiperstat# + + + + + Additional indication + + + + + + + + + + + myeloperoxidase NASH + + + + + tozorakimab + + + + + + + + + + + + + IL-33 mAb acute respiratory failure + + + + + + + + + + + + + datopotamab deructucan AVANZAR# + + + + + + + + + + + + + TROP2 ADC 1L NSCLC, squamous and non- + + + + + + + + + + + + + squamous 1L NSCLC, TROP2 BM+ + + + + + + + + + + + + + Dato-DXd TROPION Lung07# + + + + + + + + + + + + + TROP2 ADC 1L NSCLC PD-L1 <50% non-squamous + + + + + + + + + + + + + Dato-DXdTROPION-Breast03# + + + + + + + + + + + + + TROP2 ADC adjuvant residual disease triple + + + + + + + + + + + + + negative breast cancer + + + + + + + + + + + + + + + + + + + + Phase progressions based on first patient dose achievement. + + +4 #Partnered and/or in collaboration ¶Registrational Phase I/III trial Appendix: Glossary. + + + + + + + Movements since Q3 2022 update + + + + + + Removed from Phase I + + + + + Removed from Phase II + + + + + Removed from Phase III + + + + + Removed from registration + + + + + + + + + + + + + + + + + NME + + + + + NME + + + + + Life-cycle management + + + + + NME + + + + + + + AZD8701 +/- Imfinzi# + + + + + navafenterol# + + + + + Fasenra HUDSON + + + + + Airsupra (PT027)#2 + + + + + + + FOXP3 +/- PD-L1 mAb solid tumours + + + + + MABA chronic obstructive pulmonary + + + + + IL-5R mAb eosinophilic gastritis and + + + + + ICS/SABA asthma + + + + + + + + + disease + + + + + eosinophilic gastroenteritis + + + + + + + + + MEDI9253 + + + + + + + + + Life-cycle management + + + + + + + rNDV IL-12 solid tumours + + + + + Additional indication + + + + + Imfinzi PEARL# + + + + + Farxiga/Forxiga DELIVER2 + + + + + + + + + tozorakimab + + + + + PD-L1 mAb 1st-line metastatic non-small cell + + + + + SGLT2 inhibitor worsening HF or CV death in + + + + + + + + + IL-33 mAb atopic dermatitis + + + + + lung cancer + + + + + patients with chronic heart failure + + + + + + + + + Life-cycle management + + + + + + +Imfinzi +/- Imjudo + CTx POSEIDON#2 + + + + + + + + + Fasenra ARROYO + + + + + + + PD-L1 mAb +/- CTLA-4 mAb + CTx 1st-line non- + + + + + + + + + IL-5R mAb chronic spontaneous urticaria + + + + + + + small cell lung cancer + + + + + + + + + + + + +Lynparza + abiraterone PROpel#2 + + + + + + + + + + + + + PARP inhibitor + NHA prostate cancer + + + + + + + + + + + + + + + + + + Phase progressions based on first patient dose achievement. + + +5 2Approved #Partnered and/or in collaboration Appendix: Glossary. + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +AstraZeneca plc published this content on 09 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2023 07:12:40 UTC. + + diff --git a/news/AZN/2023.02.09/Astrazeneca : Full Year and Q4 2022 results presentation.txt b/news/AZN/2023.02.09/Astrazeneca : Full Year and Q4 2022 results presentation.txt new file mode 100644 index 0000000000000000000000000000000000000000..ae35225e1121b433cd40f48a927936b3a40d6ec8 --- /dev/null +++ b/news/AZN/2023.02.09/Astrazeneca : Full Year and Q4 2022 results presentation.txt @@ -0,0 +1,638 @@ + + + + + Full Year and Q4 2022 Results + + + Conference call and webcast for investors and analysts + + + + + 9 February 2023 + + + + + + + Forward-looking statements + + + AstraZeneca (hereafter 'the Group') provides the following cautionary statement: this document contains certain forward-looking statements with respect to the operations, performance and financial condition of the Group, including, among other things, statements about expected revenues, margins, earnings per share or other financial or other measures. Although the Group believes its expectations are based on reasonable assumptions, any forward-looking statements, by their very nature, involve risks and uncertainties and may be influenced by factors that could cause actual outcomes and results to be materially different from those predicted. The forward-looking statements reflect knowledge and information available at the date of preparation of this document and the Group undertakes no obligation to update these forward-looking statements. The Group identifies the forward-looking statements by using the words 'anticipates', 'believes', 'expects', 'intends' and similar expressions in such statements. Important factors that could cause actual results to differ materially from those contained in forward-looking statements, certain of which are beyond the Group's control, include, among other things: ability of the Group and CinCor to complete the transactions contemplated by the acquisition agreement, including the parties' ability to satisfy the conditions to the consummation of the offer contemplated thereby and the other conditions set forth in the merger agreement; statements about the expected timetable for completing the transaction; the Group's and CinCor's beliefs and expectations and statements about the benefits sought to be achieved in the Group's proposed acquisition of CinCor; the potential effects of the acquisition on both the Group and CinCor; the possibility of any termination of the acquisition agreement; the expected benefits and success of baxdrostat and any combination product, the possibility that the milestone related to the contingent value right will not be achieved; the risk of failure or delay in delivery of pipeline or launch of new medicines; the risk of failure to meet regulatory or ethical requirements for medicine development or approval; the risk of failure to obtain, defend and enforce effective IP protection and IP challenges by third parties; the impact of competitive pressures including expiry or loss of IP rights, and generic competition; the impact of price controls and reductions; the impact of economic, regulatory and political pressures; the impact of uncertainty and volatility in relation to the UK's exit from the EU; the risk of failures or delays in the quality or execution of the Group's commercial strategies; the risk of failure to maintain supply of compliant, quality medicines; the risk of illegal trade in the Group's medicines; the impact of reliance on third-party goods and services; the risk of failure in information technology, data protection or cybercrime; the risk of failure of critical processes; any expected gains from productivity initiatives are uncertain; the risk of failure to attract, develop, engage and retain a diverse, talented and capable workforce; the risk of failure to adhere to applicable laws, rules and regulations; the risk of the safety and efficacy of marketed medicines being questioned; the risk of adverse outcome of litigation and/or governmental investigations; the risk of failure to adhere to increasingly stringent anti-bribery and anti-corruption legislation; the risk of failure to achieve strategic plans or meet targets or expectations; the risk of failure in financial control or the occurrence of fraud; the risk of unexpected deterioration in the Group's financial position; and the impact that global and/or geopolitical events such as the COVID-19 pandemic and the Russia- Ukraine war, may have or continue to have on these risks, on the Group's ability to continue to mitigate these risks, and on the Group's operations, financial results or financial condition. Nothing in this document, or any related presentation/webcast, should be construed as a profit forecast. There can be no guarantees that the conditions to the closing of the proposed transaction with CinCor will be satisfied on the expected timetable or at all or that baxdrostat or any combination product will receive the necessary regulatory approvals or prove to be commercially successful if approved. + + + + + 2 + + + + + + + Full Year and Q4 2022 results + + + Conference call agenda + + + + + + CEO Opening Remarks + + + + + Pascal Soriot + + + + + + + + + Chief Executive Officer + + + + + + + + + + + + + + + + + + + + + + + Financial Results + + + + + Aradhana Sarin + + + + + + + + + Chief Financial Officer + + + + + + + + + + + + + + + + + + + + + + + Oncology + + + + + Dave Fredrickson + + + + + Susan Galbraith + + + + + + + EVP, Oncology Business + + + + + EVP, Oncology R&D + + + + + + + + + + + + + + + + + + + BioPharmaceuticals + + + + + Ruud Dobber + + + + + Mene Pangalos + + + + + + + EVP, BioPharmaceuticals Business + + + + + EVP, BioPharmaceuticals R&D + + + + + + + + + + + + + + + + + + + Rare Disease + + + + + Marc Dunoyer + + + + + + + + + Chief Executive Officer, Alexion + + + + + + + + + + + + + + + + + + + + + + + CEO Closing Remarks, Q&A + + + + + Pascal Soriot + + + + + + + + + Chief Executive Officer + + + + + + + + + + + + + + + + 3 + + + + + + CEO Opening Remarks + + + Pascal Soriot + + + C H I E F E X E C U T I V E O F F I C E R + + + + + + + + + CEO Opening Remarks + + + + + Financial Results + + + + + Oncology + + + + + BioPharmaceuticals + + + + + Rare Disease + + + + + CEO Closing Remarks + + + + + + Strong FY 2022 - well positioned to deliver future growth + + + + + + Delivered on our upgraded FY 2022 guidance + + + + + Broad-based, diverse source of business + + + + + + + + + Total Revenue + + + + + + +25% + + + + + $44.4bn + + + + + + + CER + + + + + + + + + + + FY 2021 + + + + + FY 2022 + + + + + + + Q4 Total Revenue $11.2bn, +1% CER + + + + + + + + Core EPS + + + + + + +33% + + + + + $6.66 + + + + + + + + + + + CER + + + + + + + + + FY 2021 + + + + + FY 2022 + + + + + + + Q4 Core EPS $1.38, -5% CER + + + + + + + + FY 2022 | % Total Revenue by therapy area1 + + + + + + Oncology + + + + + CVRM + + + + + R&I + + + + + V&I + + + + + Rare Disease Other + + + + + + + 35% + + + + + 21% + + + + + 13% + + + + + 11% + + + + + 16% + + + + + 4% + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + FY 2022 | % Total Revenue by geography + + + + + + US + + + + + Emerging Markets + + + + + Europe + + + + + ERoW + + + + + + + 40% + + + + + 26% + + + + + 20% + + + + + 13% + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +[2023 Guidance: Core EPS to increase by a high single-digit to low double-digit % + + + 1. Koselugo Total Revenue is included in Rare Disease (FY 2021: Oncology) and Andexxa Total Revenue is included in BioPharmaceuticals (FY 2021: Rare Disease). Growth rates for CVRM and Rare Disease are pro forma. Total 5 Revenue and Core EPS increases benefitted from the addition of Alexion effective 21st July 2021. CER = Constant Exchange Rates; EPS = Earnings Per Share; CVRM = Cardiovascular, Renal & Metabolism; R&I = Respiratory & + + + Immunology; V&I = Vaccines & Immune Therapies; ERoW = Established Rest of World. + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +AstraZeneca plc published this content on 09 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2023 07:42:02 UTC. + + diff --git a/news/AZN/2023.02.09/Astrazeneca : Full Year and Q4 2022 results.txt b/news/AZN/2023.02.09/Astrazeneca : Full Year and Q4 2022 results.txt new file mode 100644 index 0000000000000000000000000000000000000000..1f0891e3d2cf22aff8468f6c551e195183a007b9 --- /dev/null +++ b/news/AZN/2023.02.09/Astrazeneca : Full Year and Q4 2022 results.txt @@ -0,0 +1,66 @@ + + + + 9 February 2023 07:00 GMT + + + + +Pascal Soriot, Chief Executive Officer, commenting on the results said: + + + "2022 was a year of continued strong company performance and execution of our long-term growth strategy. We made excellent pipeline progress with a record 34 approvals in major markets and we are initiating new late-stage trials for high potential medicines such as camizestrant, datopotamab deruxtecan and volrustomig. + + + In 2023, we expect to see another year of double-digit revenue growth at CER, excluding our COVID-19 medicines. We will continue to invest behind our pipeline and recent launches while continuing to improve profitability. We plan to initiate more than thirty Phase III trials this year, of which ten have the potential to deliver peak year sales over one billion dollars. + + + Our R&D success and revenue increase in 2022 demonstrate that we are on track to deliver industry-leading revenue growth through 2025 and beyond, and have set AstraZeneca on a path to deliver at least fifteen new medicines before the end of the decade." + + + + +Downloads + + + + +Full Year and Q4 2022 results announcement + + +PDF 1,582KB + + + + +Full Year and Q4 2022 results clinical trials appendix + + +PDF 3,279KB + + + + +Adrian Kemp + Company Secretary + AstraZeneca PLC + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +AstraZeneca plc published this content on 09 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2023 07:12:42 UTC. + + diff --git a/news/AZN/2023.02.09/Astrazeneca : Q4 Earnings Snapshot.txt b/news/AZN/2023.02.09/Astrazeneca : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..d8efc80625884060ff42b5e028cf2ac0b5aece94 --- /dev/null +++ b/news/AZN/2023.02.09/Astrazeneca : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +CAMBRIDGE, Britain (AP) — CAMBRIDGE, Britain (AP) — Astrazeneca PLC (AZN) on Thursday reported fourth-quarter net income of $901 million, after reporting a loss in the same period a year earlier.The Cambridge, Britain-based company said it had net income of 29 cents per share. Earnings, adjusted for one-time gains and costs, were 69 cents per share.The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.The pharmaceutical posted revenue of $11.21 billion in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $11.4 billion.For the year, the company reported profit of $3.29 billion, or $1.06 per share. Revenue was reported as $44.35 billion.Astrazeneca shares have declined 5% since the beginning of the year. The stock has increased 14% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AZN at https://www.zacks.com/ap/AZNFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/AZN/2023.02.09/BAT falls on sales miss; Entain hit by MGM remark.txt b/news/AZN/2023.02.09/BAT falls on sales miss; Entain hit by MGM remark.txt new file mode 100644 index 0000000000000000000000000000000000000000..1ab344c58be242f46b2356d1136a239738681891 --- /dev/null +++ b/news/AZN/2023.02.09/BAT falls on sales miss; Entain hit by MGM remark.txt @@ -0,0 +1 @@ +(Alliance News) - Stock prices in London opened higher on Thursday, as investors digested a mixed set of UK company earnings. The FTSE 100 index opened up 46.46 points, 0.6%, at 7,931.63. The FTSE 250 was 32.18 points, 0.2%, at 20,335.99, and the AIM All-Share was up just 0.1 of a point at 883.32. The Cboe UK 100 was up 0.6% at 793.36, the Cboe UK 250 down 0.1% at 17,737.05, and the Cboe Small Companies was up 0.1% at 14,173.52. In European equities on Thursday, the CAC 40 in Paris was up 1.1%, while the DAX 40 in Frankfurt was 1.2% higher.Europe's largest economy saw inflation speed up slightly at the beginning of the year, according to preliminary figures.Destatis said consumer prices in Germany rose 1.0% in January from the month before, reversing a 0.8% monthly decline in December. Annual inflation ticked up slightly to 8.7% from 8.6% at the end of 2022.In Zurich, Credit Suisse fell 5.9%. The troubled Swiss lender posting an annual net loss of CHF7.29 billion, widening several-fold from CHF1.65 billion in 2021. It was the firm's biggest annual loss since the global financial crisis. Net revenue plunged 34% to CHF14.92 billion from CHF22.70 billion.Credit Suisse said its 2022 results were "significantly affected by the challenging macro and geopolitical environment with market uncertainty and client risk aversion", affecting client activity across all of its conditions.Equities in New York had struggled on Wednesday. The Dow Jones Industrial Average closed down 0.6%, the S&P 500 down 1.1% and the Nasdaq Composite down 1.7%. This came in the wake of several hawkish comments from Federal Reserve officials, stoking fears of persisted high interest rates and potential further hikes. In comments reported by Bloomberg, Fed Vice Chair John Williams advocated for a "sufficiently restrictive stance of policy", adding that interest rates were "barely into restrictive territory"."We're going to need to maintain that for a few years to make sure we get inflation to 2%, and then eventually over time we'll get interest rates presumably back to more normal levels," Williams said.Fed Governor Christopher Waller added: "It might be a long fight, with interest rates higher for longer than some are currently expecting."Meanwhile, Minneapolis Fed President Neel Kashkari warned there was "not yet much evidence, in my judgment, that the rate hikes that we've done so far are having much effect on the labour market".Despite the hawkish rhetoric, the dollar was softer in early trade. Sterling was quoted at USD1.2127, higher than USD1.2084 at the London equities close on Wednesday. The euro traded at USD1.0757, higher than USD1.0734. Against the yen, the dollar was quoted at JPY130.99, down from JPY131.29.In the FTSE 100, Asia-focused bank Standard Chartered was the top performer, up 7.6%, while gambling operator Entain shed 11%. In an earnings call on Wednesday, US casino operator MGM Resorts International confirmed it is no longer considering a takeover of Entain. "The simple answer on Entain is no; we've moved on," said MGM CEO Bill Hornbuckle. Entain had rebuffed a takeover bid from MGM back in 2021. The two firms operate the BetMGM joint-venture together in the US.AstraZeneca rose 4.1%, as the pharmaceutical firm swung to an annual profit. Astra said total revenue in 2022 rose by 19% to USD44.35 billion from USD37.42 billion a year before, or by 24% at constant currency. Growth came from all therapy areas, as well as the addition of Alexion. It swung to a pretax profit of USD2.50 billion from a loss of USD265 million, while core earnings per share jumped 26% to USD6.66. The pharmaceutical maker saw a weaker fourth quarter, however, as revenue fell by 7% to USD11.21 billion and core EPS fell by 17% to USD1.38. The lower revenue in the quarter was partly due to the decline in Vaxzevria, Astra said. Revenue excluding Vaxzevria rose 17%. Looking ahead, Astra expects revenue in 2023 to grow at low-to-mid single-digit percentages at constant currency, or by low double-digit percentages excluding Covid-19 medicines. Core EPS is expected to see high single-digit to low double-digit growth.Shore Capital said Astra's fourth-quarter EPS beat consensus. While Astra's forward guidance was in line with expectations, it "might disappoint" investors, the broker said.British American Tobacco was down 4.1%. BAT reported a marginal rise in profit for 2022, as the cigarette maker navigated an "increasingly challenging" economic environment, but it noted that momentum in New Category was "strong". In 2022, revenue grew 7.7% to GBP27.65 billion from GBP25.68 billion, despite lower volumes. The figure was below Vuma-cited market consensus of USD28.02 billion. Cigarettes and tobacco heating products volumes fell by 4.2%. Pretax profit was up just 1.7% to GBP9.32 billion in 2022 from GBP9.16 billion in 2021.It improved its total dividend by 1.0% to 217.80 pence from 215.60p a year earlier. Looking ahead to 2023, BAT expects global tobacco industry volume to fall by around 2%. It expects mid-single figure constant currency adjusted earnings per share growth, which will be weighted towards the second half.Unilever added 0.6% The consumer goods firm said annual turnover rose 15% year-on-year to EUR60.07 billion from EUR52.44 billion, as pretax profit rose 21% to EUR10.34 billion from EUR8.56 billion. Underlying sales growth was 9.0%, driven by price growth, given that volumes fell 2.1%. In 2023, Unilever expects to deliver strong underlying sales growth.Underlying price growth is expected to remain high, with volumes to fall in the first half, but said it is "too early to say" whether volumes will see positive growth in the second half. Unilever expects 2023 underlying sales growth to be at least in the upper half of a 3% to 5% range. "Despite sharp rises in material costs, we have prioritised stepping up our brand and marketing investment," said CEO Alan Jope. According to interactive investor's Richard Hunter, the increased marketing spend shows Unilever "recognises the importance of keeping its brands in the mind of consumers". This is "despite price increases which run the risk of alienating cost-conscious shoppers". In the FTSE 250, cybersecurity AI firm Darktrace rose 4.5%, as it closed its "largest deal-to-date". The "multi-million dollar, multi-year" contract was signed with an unnamed "major" provider of critical infrastructure services. Watches of Switzerland shed 5.7% in early trade.The luxury watch firm reported double-digit growth in its financial third quarter ended January 29, as revenue rose 17% year-on-year to GBP407 million from GBP348 million. This was driven by luxury watches, "where demand continues to exceed supply". For the whole of financial 2023, Watches expects to bring in revenue of GBP1.50 billion to GBP1.55 billion, with adjusted earnings before interest and tax to be between GBP163 million to GBP175 million. The guidance is on a pre-IFRS 16 basis, with a constant exchange rate applied to the fourth quarter. CEO Brian Duffy reports the firm's expansion into Europe is seeing "positive" early trading.On AIM, Genedrive surged 34%.The molecular diagnostics company said the UK's National Institute for Health & Care Excellence has preliminarily recommended its antiobiotic-induced hearing loss test for use in the National Health Service. NICE's final guidance will follow a public consultation period, which will close on February 21. In Asia on Thursday, the Nikkei 225 index closed down 0.1%. In China, the Shanghai Composite rose 1.2%, and the Hang Seng index in Hong Kong added 1.6%. The S&P/ASX 200 in Sydney closed down 0.5%.Gold was quoted at USD1,884.81 an ounce early Thursday, higher than USD1,878.10 on Wednesday. Brent oil was trading at USD85.27 a barrel, edging up from USD84.01.In the economic calendar, the US will publish its weekly unemployment insurance claims report at 1330 GMT.By Elizabeth Winter, Alliance News senior markets reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.09/BoE chief lifts FTSE 100; Disney up in New York.txt b/news/AZN/2023.02.09/BoE chief lifts FTSE 100; Disney up in New York.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d295fb48cb2da59ff73967f9d1dc08c19f55ebd --- /dev/null +++ b/news/AZN/2023.02.09/BoE chief lifts FTSE 100; Disney up in New York.txt @@ -0,0 +1 @@ +(Alliance News) - London's FTSE 100 hit another record high on Thursday as largely soothing words from the Bank of England governor lifted the mood, while equities in New York joined in on the action, with Walt Disney a star performer. The blue-chip index retreated from its fresh intraday high of 7,949.57 points, though it did achieve a new closing record. There was little joy elsewhere in London, however, as mid and small-cap measures ended lower. The FTSE 100 index ended up 25.98 points, or 0.3%, at 7,911.15. The FTSE 250 index, however, fell 26.47 points, or 0.1%, at 20,277.34. The AIM All-Share closed down 2.39 points, or 0.3%, at 880.84.The Cboe UK 100 ended up 0.5% at 792.32, the Cboe UK 250 lost 0.3% at 17,707.17, and the Cboe Small Companies fell 0.1% to 14,144.35.In European equities on Thursday, the CAC 40 index in Paris closed up 1.0%, while the DAX 40 in Frankfurt ended up 0.7%.Policymakers at the Bank of England have said inflation is almost "guaranteed" to come down rapidly this year unless there is a new, unexpected global event.Andrew Bailey, the bank's governor, told MPs during the Treasury Committee that he is "concerned" about the continued persistence of inflation, but expects the rate to halve this year.He said: "We are concerned about persistence. This is why we raised interest rates at this time. I'm very uncertain, particularly about pricing and wages, and we have the largest upside force we've ever had on inflation. We do put weight on the persistent risks, but there are also very powerful downside forces this year."Bailey insisted that there would be a "very powerful unwinding" of inflation throughout the year, which would only be derailed if there is a new external shock, like a development in the Ukraine war, that it cannot foresee.Silvana Tenreyo, an external member of the bank's nine-person Monetary Policy Committee, stressed that declining inflation is all but guaranteed.The euro stood at USD1.0750 at the time of European equities close on Thursday, higher against USD1.0734 on Wednesday. The pound was quoted at USD1.2154, higher compared to USD1.2084. Against the yen, the dollar was trading at JPY131.10, lower compared to JPY131.29.The dollar was weaker after a rise in US jobless claims. In the week that ended February 4 - this past Saturday - the advance figure for seasonally adjusted initial claims was 196,000. This represents an increase of 13,000 from the previous week's unrevised total of 183,000.London's FTSE 100 was supported by gains from Standard Chartered and pharmaceutical firm AstraZeneca. There were falls for gambling firm Entain and British American Tobacco, however. Standard Chartered jumped 11% on a report that First Abu Dhabi Bank is pressing ahead with a potential USD35 billion offer for the London-based lender.According to Bloomberg, FAB's proposed acquisition of Standard Chartered is still in play, after a move to put earlier takeover plans on hold "didn't halt its ambitions to become a global financial powerhouse".AstraZeneca added 4.1%. The pharmaceutical firm posted a swing to profit in 2022, despite ending the year with a slightly weaker fourth quarter. Revenue in 2022 rose by 19% to USD44.35 billion from USD37.42 billion a year before, or by 24% at constant currency. AstraZeneca swung to a pretax profit of USD2.50 billion from a loss of USD265 million, while core earnings per share jumped 26% to USD6.66. Earnings from BAT disappointed. The cigarette maker reported a marginal rise in profit for 2022, amid an "increasingly challenging" economic environment, but it noted that momentum in its New Category was "strong".The London-based maker of Dunhill, Kent and Lucky Strike cigarettes said pretax profit was up just 1.7% to GBP9.32 billion in 2022 from GBP9.16 billion in 2021. Annual revenue grew 7.7% to GBP27.65 billion from GBP25.68 billion.The stock closed down 2.4%. While StanChart got a boost from possible M&A action, Labdrokes owner Entain plunged 14% as one-time suitor and current joint-venture partner MGM Resorts ruled out a deal. In an earnings call on Wednesday, US casino operator MGM Resorts International squashed any speculation of a potential takeover."The simple answer on Entain is no; we've moved on," said MGM Chief Executive Bill Hornbuckle, later adding: "We value the relationship with Entain. We value BetMGM."Elsewhere in London, Watches of Switzerland slid 11% as a fall in jewellery sales overshadowed otherwise decent third-quarter results. The luxury watch retailer said revenue rose 17% year-on-year to GBP407 million from GBP348 million. However, jewellery revenue alone fell 2% year-on-year to GBP41 million. "The company may be taken aback at the scale of the negative reaction to what were otherwise reasonably robust third quarter numbers accompanied by reiterated guidance. It suggests a degree of scepticism over its claims to be relatively insulated from weaker consumer demand thanks to a wealthier clientele and the continuing strong demand for luxury watches," AJ Bell analyst Russ Mould commented. Elsewhere in London, Deliveroo rose 0.1%. The food delivery company plans to axe about 350 roles, amid a slowdown in the number of people ordering takeaways. It is understood the majority of the cuts will affect UK-based employees, PA reported. The delivery firm's founder, Will Shu, told staff on Thursday that it will cut 9% of roles, as it became the latest tech business to cut jobs. Deliveroo said it expects the total number of workers to be made redundant to be "closer to 300" due to redeployments elsewhere in the business.After also announcing job cuts, Walt Disney climbed 1.6% in New York. The entertainment company will lay off 7,000 workers, Chief Executive Robert Iger said on a call to analysts on Wednesday. It will be one of his first major decisions since returning to the role. It is targeting USD5.5 billion worth of cost savings. The company's share price rise on Thursday suggests investors are impressed by Iger's more austere approach. Former boss Bob Chapek spent two years as CEO, a period that saw Wall Street concerned about rising expenses at the company.Stocks in New York were higher at the time of the closing bell in London on Thursday. The Dow Jones Industrial Average and the S&P 500 index were up 0.2%. The Nasdaq Composite was up 0.3%. Brent oil was quoted at USD83.73 a barrel late Thursday in London, down from USD84.01 late Wednesday. Gold was quoted at USD1,873.46 an ounce, down against USD1,878.10.Friday's economic events calendar has inflation data from China overnight, before a UK gross domestic product reading at 0700 GMT. The local corporate events calendar has a trading statement from speciality chemicals firm Victrex and annual results from insurer Lancashire Holdings. By Eric Cunha, Alliance News news editorComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.09/European shares hit fresh nine-month high on earnings boost.txt b/news/AZN/2023.02.09/European shares hit fresh nine-month high on earnings boost.txt new file mode 100644 index 0000000000000000000000000000000000000000..222ff30e8f6b3b4c1470ef3d3b0aba438cc6713d --- /dev/null +++ b/news/AZN/2023.02.09/European shares hit fresh nine-month high on earnings boost.txt @@ -0,0 +1 @@ +The pan-European STOXX 600 was up 0.8% at 0820 GMT, extending gains for the third straight session.Industrials was the top sector index performer, bolstered by 6.3% gains in Siemens on better-than-expected earnings and higher full-year sales guidance.Electric component maker Legrand jumped 7.5% on 2022 revenue and operating profit beat.A near 2% gain in AstraZeneca on better-than-expected fourth-quarter profit and a 3.5% rise in Bayer, after replacing its CEO early, boosted the healthcare sector.Among the top laggards, Credit Suisse Group slid 5.3% on reporting the worst annual loss since the 2008 global financial crisis and warning that a further "substantial" loss would come this year.Volvo Cars fell 2.5%, as the Swedish carmaker sees 2023 likely to be another challenging year after reporting a fall in quarterly profit.Federal Reserve officials on Wednesday hinted that more rate rises were on the table to further cool inflation, although none suggested that January's hot jobs report could trigger a more aggressive monetary policy stance. (Reporting by Ankika Biswas in Bengaluru; editing by Eileen Soreng) \ No newline at end of file diff --git a/news/AZN/2023.02.09/FTSE 100 stays composed despite hawkish Fed.txt b/news/AZN/2023.02.09/FTSE 100 stays composed despite hawkish Fed.txt new file mode 100644 index 0000000000000000000000000000000000000000..6c0dc2a553295c1d0eb2773365e5303c33ff1723 --- /dev/null +++ b/news/AZN/2023.02.09/FTSE 100 stays composed despite hawkish Fed.txt @@ -0,0 +1 @@ +(Alliance News) - Stocks in London were set to open higher on Thursday, despite investors in New York taking fright from hawkish comments from Federal Reserve officials. IG says futures indicate the FTSE 100 index of large-caps to open up 17.7 points, 0.2%, at 7,902.87 on Thursday. The FTSE 100 index closed up 20.46 points, or 0.3% at 7,885.17 on Wednesday. The blue-chip index hit an intraday high of 7,934.30, surpassing the record peak set on Friday. "We saw another day of record highs for the FTSE 100 yesterday, as European markets once again outperformed markets in the US, which slid back reversing their gains from the previous day," said CMC Markets' Michael Hewson. The Dow Jones Industrial Average closed down 0.6%, the S&P 500 down 1.1% and the Nasdaq Composite down 1.7%"While US stocks once again shrugged off Fed chair Powell's comments on Tuesday, a succession of Fed speakers on Wednesday doubled down on the hawkish chatter, with Fed Vice Chair John Williams echoing Powell's comments but going a bit further by saying that rates might need to remain restrictive for a few years, which was a significant departure from recent comments from other Fed policymakers," Hewson added.In comments reported by Bloomberg, Williams advocated for a "sufficiently restrictive stance of policy", adding that interest rates were "barely into restrictive territory". "We're going to need to maintain that for a few years to make sure we get inflation to 2%, and then eventually over time we'll get interest rates presumably back to more normal levels," Williams said. The dollar was somewhat softer in early London trade on Thursday.Sterling was quoted at USD1.2100, higher than USD1.2084 at the London equities close on Wednesday. The euro traded at USD1.0740, higher than USD1.0734. Against the yen, the dollar was quoted at JPY131.26, little changed from JPY131.29.In Asia on Thursday, the Nikkei 225 index closed down 0.1%. In China, the Shanghai Composite was up 1.1%, while the Hang Seng index in Hong Kong was 1.5%. The S&P/ASX 200 in Sydney closed down 0.5%.Gold was quoted at USD1,881.19 an ounce early Thursday, higher than USD1,878.10 on Wednesday. Brent oil was trading at USD85.15 a barrel, edging up from USD84.01.In Thursday's UK corporate calendar, there are full-year results from drug maker AstraZeneca, cigarette maker British American Tobacco, and soap and ice cream maker Unilever.In the economic calendar, there will be German inflation figures at 0700 GMT, and the US will publish its weekly unemployment insurance claims report at 1330 GMT.By Elizabeth Winter, Alliance News senior markets reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.09/Marketmind: Corporate scatter.txt b/news/AZN/2023.02.09/Marketmind: Corporate scatter.txt new file mode 100644 index 0000000000000000000000000000000000000000..e9c95e580f3c806f8d3f69d5d825610da3b18cc8 --- /dev/null +++ b/news/AZN/2023.02.09/Marketmind: Corporate scatter.txt @@ -0,0 +1 @@ +A hail of mega corporate updates distracted stock markets from a confusing macro picture - but offers little more clarity with scattergun fortunes and ambiguous readouts for the wider economy. Shares in Walt Disney surged 6% ahead of Thursday's open after the firm announced a sweeping restructuring under reinstated CEO Bob Iger and cut 7,000 jobs - 3.6% of its workforce - in an effort to save $5.5 billion and make its streaming business profitable.Disney's job shedding is yet another sign that January's red-hot U.S. employment reading may not be the full picture as company apes many big tech and digital firms in downsizing its staff this year.The share price reaction, however, was in contrast to the bizarre Alphabet swoon on Wednesday. Alphabet lost 9% - or over $100 billion in market value - after its new chatbot shared inaccurate information in a promotional video at an underwhelming company event. The flub fed worries that the Google parent is losing ground to rival Microsoft in the renewed craze around artificial intelligence.Fears over ailing Swiss bank Credit Suisse dominated in Europe. Its shares dropped 5% after it reported its worst annual loss since the 2008 global financial crisis and warned of a further "substantial" loss this year. The mood didn't improve even as it marked out another step towards creating a standalone investment bank by buying Michael Klein's advisory boutique for $175 million.For inflation worriers, consumer goods firms bear close watching. Unilever said on Thursday it would continue to raise prices for its detergents, soaps and packaged food to offset rising input costs but the pace of price rises was slowing and would ease up more in the second half of 2023.Price increases would continue in the second half "but it will be a lower rates of increases...we are probably past peak inflation, but not yet past peak pricing," finance chief Graeme Pitkethly said.That disinflation drum continued to beat in Germany, where consumer prices inflation fell more than anticipated last month, easing back below the 10% expected to 9.2% on the year.Sweden's central bank emphasised that rising global interest rates were still some way from their peaks as it raised its key rate by half a percentage point to 3.0%, forecasting more to come.Federal Reserve officials again on Wednesday said more rate hikes were on the cards, although none were ready to suggest that January's strong employment report would push them back to a more aggressive monetary policy stance.Moving to a funds rate of between 5.00% and 5.25% "seems a very reasonable view," said New York Fed chief John Williams. More generally, U.S. stock futures were higher on Thursday, with Treasury yields and the dollar falling back. European shares touched a fresh nine-month high on Thursday as Germany's Siemens and UK's AstraZeneca boosted earnings euphoria, while Britain's bank, commodity and pharma heavy FTSE100 hit another record high.The share in troubled Indian giant Adani took another negative twist. Financial index provider MSCI said some Adani securities should no longer be designated as free float, after market participants raised concerns about the eligibility of the Indian conglomerate's companies for some of its indexes.Norway's $1.35 trillion sovereign wealth fund said it had recently divested virtually all its remaining shares in the Adani group.Key developments that may provide direction to U.S. markets later on Thursday:* U.S. weekly jobless claims* Bank of England Governor Andrew Bailey, European Central Bank board member Luis de Guindos speak* European Union summit* U.S. Treasury auctions 30-year bond* U.S. corp earnings: AbbVie, PepsiCo, S&P Global, PayPal, Apollo, Hilton, Expedia, News Corp, Ralph Lauren, Lyft, Kellogg, Motorola Solutions, Mohawk Industries, Philip Morris, Huntington Ingalls, Duke Energy, Wills Towers WatsonGRAPHICS:Disney+ loses subscribers for the first time https://www.reuters.com/graphics/DISNEY-RESULTS/zgpobkzqxvd/chart.pngGoogle owns significant chunk of the search engine market https://www.reuters.com/graphics/ALPHABET-SEARCHENGINE/jnpwyxbzopw/chart_eikon.jpgCredit Suisse goes off piste https://www.reuters.com/graphics/CREDITSUISSEGP-OUTLOOK/lgpdknabmvo/chart_eikon.jpgBig Oil's record profits https://www.reuters.com/graphics/OILMAJORS-PROFITS/lgvdknaqkpo/chart.png (By Mike Dolan; mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/AZN/2023.02.09/Standard Chartered takeover talks lift FTSE 100.txt b/news/AZN/2023.02.09/Standard Chartered takeover talks lift FTSE 100.txt new file mode 100644 index 0000000000000000000000000000000000000000..d130dbeeacd896f8dbab7d10791ec6e761cd644c --- /dev/null +++ b/news/AZN/2023.02.09/Standard Chartered takeover talks lift FTSE 100.txt @@ -0,0 +1 @@ +(Alliance News) - Stock prices in London were largely higher at midday on Thursday, thanks to a strong set of results from drug maker AstraZeneca and renewed takeover talks for lender Standard Chartered. The FTSE 100 index was up 55.09 points, or 0.7%, at 7,940.26. The FTSE 250 was up 39.69 points, or 0.2%, at 20,343.50. The AIM All-Share was down 0.50 of a point, or 0.1%, at 882.73.The Cboe UK 100 was up 0.8% at 794.63, the Cboe UK 250 was flat at 17,759.83, and the Cboe Small Companies was up 0.7% at 13,947.25.Standard Chartered climbed 8.6%, the best blue-chip performer at midday, on a report that First Abu Dhabi Bank is pressing ahead with a potential USD35 billion offer for the London-based lender.According to a Bloomberg, FAB's proposed acquisition of Standard Chartered is still in play, after a move to put earlier takeover plans on hold "didn't halt its ambitions to become a global financial powerhouse".Standard Chartered's market value is around USD24 billion, compared to FAB's USD43 billion. Bloomberg suggested that the drop in the pound last autumn added to Standard Chartered's attractiveness.AJ Bell Investment Director Russ Mould commented that, if the takeover were successful, it would play into the theory that "industry players are more likely to buy UK-listed companies than private equity in the current environment".He explained: "Whereas the sharp rise in the cost of debt has made life harder for private equity to do leveraged deals, a lot of businesses have come out of the pandemic in a robust financial shape and have plenty of cash on their books to buy rivals in their respective sectors."AstraZeneca rose 4.7% as it reported a swing to profit in 2022 amid a double-digit revenue rise, despite a weaker fourth quarter.The pharmaceutical firm said total revenue in 2022 rose by 19% to USD44.35 billion from USD37.42 billion a year before, or by 24% at constant currency.It noted that growth came from all therapy areas, as well as the addition of Alexion Pharmaceuticals, a US acquisition that was added to AstraZeneca's accounts starting in July 2021.AstraZeneca swung to a pretax profit of USD2.50 billion from a loss of USD265 million, while core earnings per share jumped 26% to USD6.66. Entain shares dropped 8.7% after former suitor MGM Resorts International confirmed it was no longer considering a takeover for the gambling operator. In an earnings call on Wednesday, US casino operator MGM Resorts International squashed any speculation of a potential takeover."The simple answer on Entain is no; we've moved on," said MGM Chief Executive Bill Hornbuckle, later adding: "We value the relationship with Entain. We value BetMGM."BetMGM is the two firms' North American sports betting and gaming entertainment joint-venture, which was started in 2018.British American Tobacco was down 4.7%. The cigarette maker reported a marginal rise in profit for 2022, amid an "increasingly challenging" economic environment, but it noted that momentum in its New Category was "strong".The London-based maker of Dunhill, Kent and Lucky Strike cigarettes said pretax profit was up just 1.7% to GBP9.32 billion in 2022 from GBP9.16 billion in 2021. Annual revenue grew 7.7% to GBP27.65 billion from GBP25.68 billion.New Categories were now a "meaningful" contributor to group's financial results, it said, expecting this emerging business to be profitable in 2024, one year ahead of target.In 2022, the group invested more than GBP2 billion in New Categories, while making progress in reducing operating losses by 62%. British American Tobacco said it was confident of reaching GBP5 billion revenue target for New Categories by 2025.BAT improved its total dividend by 6.0% to 230.90 pence in 2022 from 217.80p in 2021. In the FTSE 250 index, Watches of Switzerland lost 7.6% despite reporting a double-digit rise in quarterly revenue and reiterating its full-year guidance.The luxury watch retailer said revenue rose 17% year-on-year to GBP407 million from GBP348 million. This was driven by luxury watches "where demand continues to exceed supply", it said. Elsewhere in London, Genedrive jumped 27% as the UK National Institute for Health & Care Excellence preliminarily recommended its antibiotic hearing loss test, the MT-RNR1 ID kit.The committee concluded MT-RNR1 can "quickly and accurately" identify babies with the primary genetic variant who may be at risk of hearing loss if given aminoglycoside antibiotics, according to Genedrive.In European equities on Thursday, the CAC 40 index in Paris was up 1.2%, while the DAX 40 in Frankfurt was up 1.3%.The euro stood at USD1.0763 at midday on Thursday in London, higher against USD1.0734 at the close on Wednesday. The pound was quoted at USD1.2138, higherr compared to USD1.2084. Against the yen, the dollar was trading at JPY131.03, lower compared to JPY131.29.The dollar fell back slightly despite fairly hawkish rhetoric from two further US Federal Reserve policymakers on Wednesday, who echoed Fed Chair Jerome Powell's words a day earlier, confirming that the US central bank was not finished raising rates.New York Fed President John Williams said that US monetary policy could turn even tighter than originally anticipated, while Fed Governor Christopher Weller warned that the inflation fight is not over, with the potential for rates in excess of market expectations a possibility. Stocks in New York were called higher, bouncing back from lower close on Wednesday. The Dow Jones Industrial Average was called up 0.6%, the S&P 500 index up 0.8%, and the Nasdaq Composite up 1.2%. On Wednesday, the Dow had lost 0.6%, the S&P 1.1% and the Nasdaq 1.7%.Shares in Alphabet plunged 7.7% in New York on Wednesday after Google's new artificial intelligence-powered chatbot Bard made a blunder in an ad. The bot was asked about what to tell a nine-year-old about discoveries from the James Webb Space Telescope. It incorrectly offered the response that the telescope was the first to take pictures of a planet outside Earth's solar system, when that honour actually belongs to the European Very Large Telescope.The mess-up sent the share price spiralling. Analysts have suggested Google rushed its Bard announcement under pressure from Microsoft - which has invested in ChatGPT owner OpenAI - but Google Vice President Prabhakar Raghavan denied the claim.Alphabet was up 0.6% in pre-market trade on Thursday. Microsoft finished 0.3% lower on Wednesday, but was up 1.8% in the pre-market. Brent oil was quoted at USD85.21 a barrel at midday in London on Thursday, up from USD84.01 late Wednesday. Gold was quoted at USD1,881.64 an ounce, higher against USD1,878.10.Still to come on Thursday's economic calendar, the US will publish its weekly unemployment claims report at 1330 GMT. By Heather Rydings, Alliance News senior economics reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.09/UK's FTSE 100 hits another record high; Standard Chartered tops index.txt b/news/AZN/2023.02.09/UK's FTSE 100 hits another record high; Standard Chartered tops index.txt new file mode 100644 index 0000000000000000000000000000000000000000..90059e347765710d7dcc3ed8b562f6ec1e035800 --- /dev/null +++ b/news/AZN/2023.02.09/UK's FTSE 100 hits another record high; Standard Chartered tops index.txt @@ -0,0 +1,30 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window)*Stanchart surges on report FAD Bank pressing ahead with +bid*Entain tumbles as MGM says "moved on" amid M&A speculation*FTSE 100 up 0.3%, FTSE 250 off 0.1%Feb 9 (Reuters) -Britain's FTSE 100 index rose for the third straight session +on Thursday after breaching its record-high level again, buoyed +by a slate of upbeat earnings and merger talks tied to Standard +Chartered.The blue-chip FTSE 100 ended 0.3% higher after +hitting a record high of 7,949.57 in intraday trading, the third +time it has hit a new peak in less than a week.Standard Chartered jumped 11.4% to record its +best day in more than nine months after Bloomberg News reported +that First Abu Dhabi Bank is pressing ahead with an +all-cash bid of $30 billion-$35 billion for the Asia-focussed +bank.AstraZeneca rose 4.1%, logging its biggest +single-day percentage gain in nearly a year, after the drugmaker +forecast earnings growth in 2023."The broad environment is a really positive one for the UK +equity market," said James Klempster, deputy head of multi-asset +at Liontrust."The last couple of years have had an environment that +suits the kind of sector composition that the UK has, so it's +not a surprise to see UK generally faring well."Meanwhile, Bank of England policymakersdisagreedabout where interest rates need to go to tame inflation, +with Governor Andrew Bailey stressing the uncertainty of the +outlook, a week after the BoE suggested its run of rate hikes +might be peaking.Investors will keep a close eye on the UK gross domestic +product (GDP) data due to be published on Friday, a key metric +in gauging the state of the economy.Weighing the FTSE 100 down were losses in Entain, +which tumbled 14.0% after MGM's chief executive officer +said on Wednesday that the company had "moved on" from the +gambling firm amid speculation of a takeover.Watches of Switzerland Group slumped 11.0% after it +gave its quarterly trading update, taking the +domestically-focussed FTSE 250 index 0.1% lower. +(Reporting by Sruthi Shankar and Shashwat Chauhan in Bengaluru; +Editing by Rashmi Aich and Kylie MacLellan) \ No newline at end of file diff --git a/news/AZN/2023.02.09/Upbeat earnings keep FTSE 100 near record highs, Entain tumbles.txt b/news/AZN/2023.02.09/Upbeat earnings keep FTSE 100 near record highs, Entain tumbles.txt new file mode 100644 index 0000000000000000000000000000000000000000..eaf0eb5e6ca9ffd8291b0c1313c97fdb506945eb --- /dev/null +++ b/news/AZN/2023.02.09/Upbeat earnings keep FTSE 100 near record highs, Entain tumbles.txt @@ -0,0 +1 @@ +The blue-chip FTSE 100 rose 0.5% by 0820 GMT, hovering near record levels hit in the previous session, while the midcap FTSE 250 index inched up 0.2%.Unilever rose 0.5% after the consumer goods giant reported quarterly underlying sales growth above expectations, helped by higher prices for its detergents, soaps and packaged food.AstraZeneca jumped 1.7% after the drugmaker beat expectations with fourth-quarter profits despite lower than expected sales of its best-selling oncology and rare blood disorder drugs.Entain tumbled 11.4%, after a Jefferies report pointed to MGM's chief executive officer saying the company had "moved on" from the gambling firm amid speculation of a takeover. British American Tobacco fell 3.9% after it reported full-year results and said it expects to complete the sale of its Russian business to its local partner in 2023. The company controlled almost a quarter of the Russian market before the country invaded Ukraine. (Reporting by Sruthi Shankar in Bengaluru; Editing by Rashmi Aich) \ No newline at end of file diff --git a/news/AZN/2023.02.09/World Press Review: February 9.txt b/news/AZN/2023.02.09/World Press Review: February 9.txt new file mode 100644 index 0000000000000000000000000000000000000000..1088742a7acc08b90ddbf3d48f89871a76724abb --- /dev/null +++ b/news/AZN/2023.02.09/World Press Review: February 9.txt @@ -0,0 +1,4 @@ + +Credit Suisse, Repsol, BBVA, Inditex, Mapfre, Enagás, Aegon, Akzo, Unilever, Bayer, Roche, Rothschild & Co, Hermès, AstraZeneca, Volvo Car, Geely, Disney, Robinhood, Sumo Logic, Netflix, Mattel, Toshiba, Rohm, Orix, Toyota  + + diff --git a/news/AZN/2023.02.10/ASTRAZENECA : Credit Suisse reiterates its Neutral rating.txt b/news/AZN/2023.02.10/ASTRAZENECA : Credit Suisse reiterates its Neutral rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..d062ee1cc715096fe6388503a944174004a29dea --- /dev/null +++ b/news/AZN/2023.02.10/ASTRAZENECA : Credit Suisse reiterates its Neutral rating.txt @@ -0,0 +1 @@ +Analyst Dominic Lunn from Credit Suisse research gives the stock a Neutral rating. The target price is unchanged at GBX 11800. \ No newline at end of file diff --git a/news/AZN/2023.02.10/ASTRAZENECA : Deutsche Bank maintains a Buy rating.txt b/news/AZN/2023.02.10/ASTRAZENECA : Deutsche Bank maintains a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..a8ccab289b169f0cacac4d0dfe1247bbe24f9826 --- /dev/null +++ b/news/AZN/2023.02.10/ASTRAZENECA : Deutsche Bank maintains a Buy rating.txt @@ -0,0 +1 @@ +Already positive, the research from Deutsche Bank and its analyst Emmanuel Papadakis still consider the stock as a Buy opportunity. The target price is unchanged at GBX 13000. \ No newline at end of file diff --git a/news/AZN/2023.02.10/ASTRAZENECA : UBS reiterates its Neutral rating.txt b/news/AZN/2023.02.10/ASTRAZENECA : UBS reiterates its Neutral rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..5010c365be30b2efde60f4b5cd0b6adbeb61b3ef --- /dev/null +++ b/news/AZN/2023.02.10/ASTRAZENECA : UBS reiterates its Neutral rating.txt @@ -0,0 +1 @@ +Michael Leuchten from UBS retains his Neutral opinion on the stock. The target price continues to be set at GBX 10100. \ No newline at end of file diff --git a/news/AZN/2023.02.10/Hunt disappointed UK 'lost out this time' on new AstraZeneca factory.txt b/news/AZN/2023.02.10/Hunt disappointed UK 'lost out this time' on new AstraZeneca factory.txt new file mode 100644 index 0000000000000000000000000000000000000000..7133fd9af6988829d6cd8dc2afdddda3a8a4eb6b --- /dev/null +++ b/news/AZN/2023.02.10/Hunt disappointed UK 'lost out this time' on new AstraZeneca factory.txt @@ -0,0 +1 @@ +(Alliance News) - UK Chancellor Jeremy Hunt said he was disappointed the UK "lost out this time" on a GBP320 million new AstraZeneca PLC factory after the pharmaceutical company chose the low-tax Republic of Ireland instead.The group had wanted to build a plant near its existing sites close to Macclesfield, Cheshire, but the "discouraging" tax rate had prompted a switch to Dublin, AstraZeneca Chief Executive Pascal Soriot reportedly said.Hunt said he agreed with the firm's "fundamental" argument on taxes.Speaking to broadcasters at a science facility in central London on Friday, the Chancellor said: "We're disappointed that we lost out this time and we agree with the fundamental case they're making which is that we need our business taxation to be more competitive and we want to bring business taxes down."But the only tax cuts we won't consider are ones that are funded by borrowing because they're not a real tax cut. They're just passing on the bill to future generations."The corporate tax rate is due to rise from 19% to 25% in April, while a tax relief scheme for businesses is expected to end and energy support will begin to fall away.AstraZeneca has warned the UK for some time not to take its life sciences sector for granted and that it is losing out on investment to more competitive countries.Richard Torbett, chief executive of the Association of the British Pharmaceutical Industry, called for government action to provide a "level playing field".He told BBC Radio 4's Today programme: "There are more stories about losing investment, like the one we've seen with AstraZeneca, than the positive noise stories coming in, and we really have to turn that around."He continued: "I do think there is a basic point that the economy is not growing fast enough at the moment to pay for the public services that we all need, so we've got a choice."We can either go so far down the route of fiscal conservativism that it would undermine potential growth industries, or we act responsibly but we try to make sure we are competitive with other countries that are going through similar challenges."Concerns within AstraZeneca and the wider industry have been focused on the NHS-branded medicines sales levy, which has soared because of rising demand since the pandemic.Torbett said: "The agreement we have with the NHS, that has got to the point where companies are now paying more than a quarter of their revenues — not profit but revenues — back to the government."That is vastly in excess of anything the industry pays anywhere else in the world and we have to get to the point where the UK is able to compete for investment on a level playing field, and we are not there yet."AstraZeneca shares were 0.1% higher at 11,206.00 pence each on Friday morning in London. By Sophie Wingate, PA Political CorrespondentPress Association: Financesource: PACopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.10/Hunt disappointed UK loses new AstraZeneca factory to Ireland.txt b/news/AZN/2023.02.10/Hunt disappointed UK loses new AstraZeneca factory to Ireland.txt new file mode 100644 index 0000000000000000000000000000000000000000..8cc387116aca84f1d9e5840fbed017d63601dfbd --- /dev/null +++ b/news/AZN/2023.02.10/Hunt disappointed UK loses new AstraZeneca factory to Ireland.txt @@ -0,0 +1 @@ +(Alliance News) - Chancellor Jeremy Hunt said he was disappointed the UK "lost out this time" on a GBP320 million new AstraZeneca PLC factory after the pharmaceutical company chose the low-tax Republic of Ireland instead.The group had wanted to build a plant near its existing sites close to Macclesfield, Cheshire, but the "discouraging" tax rate had prompted a switch to Dublin, AstraZeneca Chief Executive Pascal Soriot reportedly said.Hunt said he agreed with the firm's "fundamental" argument on taxes.Speaking to broadcasters at a science facility in central London on Friday, the chancellor said: "We're disappointed that we lost out this time and we agree with the fundamental case they're making which is that we need our business taxation to be more competitive and we want to bring business taxes down."But the only tax cuts we won't consider are ones that are funded by borrowing because they're not a real tax cut. They're just passing on the bill to future generations."The corporate tax rate is due to rise from 19% to 25% in April, while a tax relief scheme for businesses is expected to end and energy support will begin to fall away.AstraZeneca has warned the UK for some time not to take its life sciences sector for granted and that it is losing out on investment to more competitive countries.Richard Torbett, chief executive of the Association of the British Pharmaceutical Industry, called for government action to provide a "level playing field".He told BBC Radio 4's Today programme: "There are more stories about losing investment, like the one we've seen with AstraZeneca, than the positive noise stories coming in, and we really have to turn that around."He continued: "I do think there is a basic point that the economy is not growing fast enough at the moment to pay for the public services that we all need, so we've got a choice."We can either go so far down the route of fiscal conservativism that it would undermine potential growth industries, or we act responsibly but we try to make sure we are competitive with other countries that are going through similar challenges."Concerns within AstraZeneca and the wider industry have been focused on the NHS-branded medicines sales levy, which has soared because of rising demand since the pandemic.Torbett said: "The agreement we have with the NHS, that has got to the point where companies are now paying more than a quarter of their revenues — not profit but revenues — back to the government."That is vastly in excess of anything the industry pays anywhere else in the world and we have to get to the point where the UK is able to compete for investment on a level playing field, and we are not there yet."Prime Minister Rishi Sunak's shake-up of Whitehall this week included the creation of a new government department focused on science, innovation and technology.Hunt said the UK's life sciences industry was "tremendously strong"."If you look at life sciences, we have billion pound investments announced recently by BioNTech, by Moderna, by Merck, by other big pharmaceutical companies and we think we are in a tremendously strong position with the biggest life science sector in Europe."AstraZeneca shares were 0.3% higher at 11,220.00 pence each on Friday morning in London. By Sophie Wingate, PA Political CorrespondentPress Association: Financesource: PACopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.10/Rate worries keep European stocks in check.txt b/news/AZN/2023.02.10/Rate worries keep European stocks in check.txt new file mode 100644 index 0000000000000000000000000000000000000000..7baba4f55670726d45fc24a5dcee1d27b9e5dadf --- /dev/null +++ b/news/AZN/2023.02.10/Rate worries keep European stocks in check.txt @@ -0,0 +1 @@ +(Alliance News) - Stock prices in London closed lower on Friday, as news that the UK managed to avert a recession failed to inspire equities, with interest rate worries hanging over markets again. "I think it's safe to say the sparkling wine can remain on ice after data this morning confirmed the UK avoided a recession at the end of 2022 by the narrowest of margins. So much so that there's every chance that a tiny revision over the next couple of months confirms quite the opposite," Oanda analyst Craig Erlam commented. "Ultimately, this isn't a story of whether the UK is in recession or not as that's just a simple technical definition. It's a story of zero growth - quite literally in the case of the fourth quarter - and the fact that this likely represents the recent past, present, and near-term future prospects for the UK economy. High but falling inflation and basically no growth for some time. It's all a bit bleak really."The FTSE 100 index closed down 28.70 points, or 0.4%, at 7,882.45. London's blue-chip benchmark achieved a record high on Thursday, but is ultimately 0.2% lower than it was last Friday. The FTSE 250 closed down 247.27 points, or 1.2%, at 20,030.07, and the AIM All-Share ended down 6.45 points, or 0.7%, at 874.39.For the week, the FTSE 250 slipped 2.7% and the AIM All-Share lost 1.7%. The Cboe UK 100 closed down 0.5% at 788.29, the Cboe UK 250 lost 1.4% to 17,466.59, and the Cboe Small Companies ended down 0.3% at 14,097.73.In European equities on Friday, the CAC 40 in Paris closed down 0.8%, while the DAX 40 in Frankfurt slumped 1.4%.Oanda analyst Erlam added: "Central bankers, particularly from the Fed, have been out in force stressing caution over interest rate expectations. "Markets are now pricing in two more hikes from the Fed and possibly one cut later in the year."The dollar was stronger as the week draws to a close. The pound bought USD1.2072 at the time of the London equities close on Friday, down from USD1.2154 at the same time on Thursday. The euro stood at USD1.0677, lower against USD1.0750. Against the yen, the dollar was trading at JPY131.44, higher compared to JPY131.10.According to a first estimate from the Office for National Statistics, UK gross domestic product saw no growth in the fourth quarter from the third. This follows a revised contraction of 0.2% in the third quarter from the second.It means the UK avoided a technical recession, which is defined as two consecutive quarters of economic shrinkage.The outlook for the UK economy is anything but promising, however, hitting sterling. In London, share price gains for Shell and BP, on the back of rising Brent prices, prevented the FTSE 100 from suffering an even worse fall on Friday. Shell added 3.0% and BP rose 2.6%.Brent oil was quoted at USD86.41 late Friday in London, up from USD83.73 late Thursday. Russia announced Friday it will slash crude oil output by 5% next month after Western countries imposed a price cap over the Ukraine conflict.International crude prices surged after Deputy Prime Minister Alexander Novak said that Russia would "voluntarily" reduce production by 500,000 barrels per day in March.SPI Asset Management analyst Stephen Innes commented: "Novak certainly feels the pulse of the oil markets as the intervention comes on the heels of the street's biggest bull (Goldman Sachs) downgrading their 2023 forecast, ironically because of more supply coming from Russia than expected."Despite the intervention, there is a good chance we have seen the high oil price in H1 due to significantly increasing US recession odds and a far more hawkish Fed than expected. Given China's lack of organic growth, signalling a slower consumption recovery, it is doubtful we will get that slingshot rebound in Q2. We now see Brent trading back to USD78 [a barrel] in Q1 before rising to USD82 in Q2 as balances get tighter." Back in London, AstraZeneca extended gains, rising 1.8% and helping the FTSE 100 avoid suffering a bigger fall at the end of the week. The stock had closed up 4.1% on Thursday. Weighing on the index, however, Standard Chartered lost 5.0% as First Abu Dhabi Bank repeated that it has no plans to make a takeover offer for the lender. FAB said on Friday that its stance had not changed since early last month, when it said it ended "very early stages" of evaluating a possible offer for StanChart.Wealth managers also hurt the index, with abrdn sliding 4.0%, St James's Place losing 2.3% and M&G declining 2.2%. HSBC predicted a tough outlook for the sector. It cut abrdn to 'reduce' but maintained the 'hold' and 'buy' ratings for St James's and M&G, respectively. Elsewhere in London, Itim plunged 20% after it said annual earnings will fall short of market expectations.The London-based click-and-collect software firm said earnings before interest, tax, depreciation and amortisation are expected to be GBP200,000 below current market expectations, at about GBP200,000, collapsing by more than 90% from GBP2.2 million in 2021.Itim said this was due to its increased cost base after self-financing its projects to drive growth, offering transitions to its platform free of charge.Stocks in New York were mixed at the time of the closing bell in London on Friday. The Dow Jones Industrial Average was up 0.3%, the S&P 500 index edged up 0.1%, though the Nasdaq Composite was down 0.6%. Eyes were on the US bond markets on Friday, as the inversion of the treasury yield curve deepened on Thursday. The 10-year bond traded at a 3.73% yield around 1630 GMT, the five-year a 3.92% yield and the two-year at a 4.51% yield. A normal yield curve would show that bonds with a longer maturity offer higher yields, while instruments with shorter maturity offer less chunky rewards. The opposite is true with an inverted yield curve - shorter-dated bonds pay more than those with a longer maturity. SPI's Innes commented: "Indeed, the yield curve inversions are scaring bulls back to the pen, while new-year hibernating bears are stirring again. The [two to 10] treasury yield curve inverted by 85 basis points, the deepest inversion since the early 1980s, is waving multiple red flags about economic dangers just as investors price in a more hawkish Federal Reserve."Gold was quoted at USD1,858.39 an ounce late Friday, lower against USD1,873.46 on Thursday.In a quiet economic calendar on Monday, Federal Reserve Governor Michelle Bowman speaks at 1300 GMT. The week picks up pace with eurozone GDP and unemployment readings on Tuesday, US inflation later that day, before UK consumer price index on Wednesday. By Eric Cunha, Alliance News news editorComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.10/Rq bio strengthens board with industry-leading infectious disease experts joining as no...txt b/news/AZN/2023.02.10/Rq bio strengthens board with industry-leading infectious disease experts joining as no...txt new file mode 100644 index 0000000000000000000000000000000000000000..89d43a74c51215054026edd2354dab89c616fed5 --- /dev/null +++ b/news/AZN/2023.02.10/Rq bio strengthens board with industry-leading infectious disease experts joining as no...txt @@ -0,0 +1 @@ +RQ Bio is scaling up at speed, with the appointment of Non-Executive Directors, Dr W. Ripley ('Rip') Ballou and Dr Jacques Cholat to its Board of Directors.Both new Non-Executive Directors have extensive scientific and leadership experience in vaccines and infectious diseases in the United States, Europe and around the world. They take up their position with immediate effect and will support the strategic, business and scientific direction of the company.The appointments come after RQ Bio last month announced the first of its discovered monoclonal antibodies to prevent COVID-19 in vulnerable patients, has entered clinical trials. Less than 12 months after discovery, AstraZeneca started the SUPERNOVA Phase I/III trial [1]. Just six months before, RQ Bio was launched following a $157m licencing deal for Covid-19 antibodies with AstraZeneca.These appointments add significant expertise to the team. Hugo Fry, CEO of RQ Bio, comments: 'We are charging ahead. We have the funding to match our ambition, and now we are announcing two non-executive appointments that match the scale of our ambition. There is no time to waste in protecting millions of vulnerable patients, so being joined by such highly experienced and talented leaders in the industry will further accelerate our progress.'Fry adds: 'We are seeking pharmaceutical industry partners to develop our antibody discoveries for patients, so it's a great vote of confidence to have acquired such senior level experience with Rip and Jacques joining the board. Both will be invaluable in supporting the rapid growth of RQ Bio and helping us make the case for our innovations to our colleagues in the pharmaceutical industry.'Dr Ripley Ballou is a senior R&D leader with a wealth of experience in vaccines and infectious diseases. His experience includes research, technical and clinical development, quality and regulatory activities involved in taking vaccines and monoclonal antibodies targeting infectious diseases, from discovery through to the clinic. He also has experience of start-up companies including being instrumental in the launch of Univax Corporation which was developing a monoclonal antibody programme against sepsis targets.Dr Ballou said: 'It is a real privilege to join the RQ Bio Board of Directors. The company is at the forefront of pharmaceutical discovery, discovering monoclonal antibodies to protect the most vulnerable patients from infectious diseases. I am excited to be able to work with, and guide their expert teams, to further expand their development programme. Our pharmaceutical industry partners will also play a crucial role in allowing us to create access for these treatments.'Dr Jacques Cholat has long been inspired by the combined aspects of public health and commercial considerations in the infectious disease/vaccines arena. While working at Merck & Co he was instrumental in securing the roll out of several life saving vaccination programs, to the lowest income countries of the world: Human Papillomavirus (HPV), Rotavirus and Ebola vaccination in Africa.Dr Cholat comments: 'Whilst we know that the global Covid-19 pandemic devastated communities, we learnt from it and it has provided rich insights which have helped to advance cutting-edge scientific research. Now, as I join the Board of Directors at RQ Bio, an innovative and forward-thinking company, together we are committed to further that scientific understanding and to prevent a recurrence of healthcare systems being overwhelmed by preventable illness, as we witnessed during the pandemic.'Contact:Email: info@rqbiotechnology.comABOUT OUR NON-EXECUTIVE DIRECTORSDr Ballou currently serves as a Senior Scientific Advisor to the International AIDS Vaccine Initiative (IAVI) where he works on monoclonal antibody programs targeting HIV. He was previously Vice President and Head at GSK Global Vaccines, based in Maryland, US where he led programs developing vaccines for Respiratory Syncytial Virus (RSV), Dengue, Ebola and Cytomegalovirus (CMV). Prior to that he was Vice President and Head, Clinical Research and Translational Science, Vaccine Discovery and Development at GSK Vaccines in Rixensart, Belgium. He has also served as Deputy Director for Vaccines, Infectious Diseases Development, Global Health at the Bill and Melinda Gates Foundation and as a Vice President, Clinical Development at MedImmune where he worked on early and late-stage vaccine and monoclonal antibody programs. Dr Ballou received his MD from Emory University School of Medicine, trained in Medicine and Infectious Disease at the Walter Reed Army Medical Centre and began his research career in vaccine development at the Walter Reed Army Institute of Research where he led a team that, with GSK, co-developed a malaria vaccine that was recently recommended by the World Health Organization (WHO) for widespread use in sub-Saharan Africa.Dr Cholat was previously President of Merck Vaccines and before that Vice President of the company's Global Commercial Vaccines. Prior to joining Merck, he was Vice President Commercial Operations International for Sanofi Pasteur and Vice President Commercial Operations Asia Pacific for Aventis. He gained his MD at Genoble University's Medical School.ABOUT RQ BIORQ Bio was founded in May 2021 by scientific experts previously involved with the UK BIA Antibody Taskforce. This Taskforce built a community of infectious disease antibody experts focussed on the development of rapid and efficient delivery of highly potent neutralising antibodies to help support the UK COVID-19 response.RQ Bio is extending the concept beyond SARS-CoV-2, combining deep knowledge of virus and antibody evolution to engineer potent neutralising antibodies that are future-proofed against common escape mutations, even in highly variable viruses like influenza.RQ Bio's mission has been to develop medicines based on potent broad-spectrum monoclonal antibodies to provide instant and long-lasting immunity for vulnerable people at risk of severe disease or death from current and future variants of viral infections. RQ Bio has achieved this by combining innovative excellence in core areas to create a smarter approach to antibody generation. RQ Bio has multiple sources of leads and a deep collaboration with the University of Oxford.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AZN/2023.02.13/Astrazeneca : Transaction by Person Discharging Managerial Responsibilities - Form 6-K.txt b/news/AZN/2023.02.13/Astrazeneca : Transaction by Person Discharging Managerial Responsibilities - Form 6-K.txt new file mode 100644 index 0000000000000000000000000000000000000000..26bd65778cbccda87da7a131ae9c277f998ca39f --- /dev/null +++ b/news/AZN/2023.02.13/Astrazeneca : Transaction by Person Discharging Managerial Responsibilities - Form 6-K.txt @@ -0,0 +1,644 @@ + + + Transaction by Person Discharging Managerial Responsibilities + + + AstraZeneca PLC (the Company) announced that on 9 February 2023 certain awards of the Company's ordinary shares of $0.25 each (Ordinary Shares) and the Company's American Depositary Shares (ADSs) vested to Dr Aradhana Sarin, Executive Director and Chief Financial Officer. Each ADS represents one half of an Ordinary Share. + + + Following the reinvestment of dividends and the withholding to satisfy certain tax obligations arising on vesting, Dr Sarin acquired the ADSs and Ordinary Shares as detailed in the table below. + + + + + + + PDMR + + + + + ADSs acquired under the Alexion equity awards + + + + + Ordinary Shares acquired under restricted share award + + + + + + + Aradhana Sarin + + + + + 29,362 + + + + + 7,514 + + + + + + + Further details on the awards is also set out below. + + + Alexion equity awards + + + In accordance with the Agreement and Plan of Merger between the Company and Alexion Pharmaceuticals, Inc. (Alexion), Dr Sarin's in-flight share awards granted by Alexion were converted to awards over AstraZeneca ADSs under the AstraZeneca Global Restricted Stock Plan at the time of closing of the Alexion acquisition. The awards that vested on 9 February 2023 replaced in-flight Alexion awards originally granted to Dr Sarin between February 2020 and February 2021 under the Alexion 2017 Incentive Plan. + + + Restricted share award + + + Dr Sarin's previous employment contract with Alexion included an entitlement to cash severance arrangements, which would have been triggered at the date of closing of the acquisition of Alexion. To compensate Dr Sarin for the forfeiture of these contractual entitlements an award of £2,015,540 was made in August 2021, 50% in cash and 50% in restricted shares. The restricted shares vested and were released to Dr Sarin on 9 February 2023, 18 months after her appointment. + + + For tax purposes, the fair market value of an ADS at vest of the awards was US$64.36, being the closing price on the last trading day preceding the vesting. The fair market value of an Ordinary Share at vest was 10,572 pence, being the closing price on the last trading day preceding the vesting. + + + Further details are set out in the attached notification, made in accordance with the requirements of the EU Market Abuse Regulation (as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018. + + + + + + + 1 + + + + + Details of the person discharging managerial responsibilities / person closely associated + + + + + + + a) + + + + + Name + + + + + Aradhana Sarin + + + + + + + 2 + + + + + Reason for the notification + + + + + + + a) + + + + + Position/status + + + + + Chief Financial Officer + + + + + + + b) + + + + + Initial notification/Amendment + + + + + Initial notification + + + + + + + 3 + + + + + Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor + + + + + + + a) + + + + + Name + + + + + AstraZeneca PLC + + + + + + + b) + + + + + LEI + + + + + PY6ZZQWO2IZFZC3IOL08 + + + + + + + 4i + + + + + Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted + + + + + + + a) + + + + + Description of the financial instrument, type of instrument + + + Identification code + + + + + AstraZeneca PLC American Depositary Shares + + + CUSIP: 046353108 + + + + + + + b) + + + + + Nature of the transaction + + + + + Acquisition of AstraZeneca PLC American Depository Shares pursuant to a vesting under the Global Restricted Stock Plan + + + + + + + c) + + + + + Price(s) and volume(s) + + + + + Price(s) + + + + + Volume(s) + + + + + + + 0 + + + + + 29,362 + + + + + + + d) + + + + + Aggregated information + + + - Aggregated volume + + + - Price + + + + + Not applicable - single transaction + + + + + + + e) + + + + + Date of the transaction + + + + + 9 February 2023 + + + + + + + f) + + + + + Place of the transaction + + + + + Outside a trading venue + + + + + + + + + + + 1 + + + + + Details of the person discharging managerial responsibilities / person closely associated + + + + + + + a) + + + + + Name + + + + + Aradhana Sarin + + + + + + + 2 + + + + + Reason for the notification + + + + + + + a) + + + + + Position/status + + + + + Chief Financial Officer + + + + + + + b) + + + + + Initial notification/Amendment + + + + + Initial notification + + + + + + + 3 + + + + + Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor + + + + + + + a) + + + + + Name + + + + + AstraZeneca PLC + + + + + + + b) + + + + + LEI + + + + + PY6ZZQWO2IZFZC3IOL08 + + + + + + + 4i + + + + + Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted + + + + + + + a) + + + + + Description of the financial instrument, type of instrument + + + Identification code + + + + + Ordinary Shares of US$0.25 each in AstraZeneca PLC + + + GB0009895292 + + + + + + + b) + + + + + Nature of the transaction + + + + + Acquisition of AstraZeneca PLC Ordinary Shares pursuant to a vesting of a Restricted Share Award + + + + + + + c) + + + + + Price(s) and volume(s) + + + + + Price(s) + + + + + Volume(s) + + + + + + + 0 + + + + + 7,514 + + + + + + + d) + + + + + Aggregated information + + + - Aggregated volume + + + - Price + + + + + Not applicable - single transaction + + + + + + + e) + + + + + Date of the transaction + + + + + 9 February 2023 + + + + + + + f) + + + + + Place of the transaction + + + + + Outside a trading venue + + + + + + + AstraZeneca + + + AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca. + + + Contacts + + + For details on how to contact the Investor Relations Team, please click here. For Media contacts, click here. + + + Adrian Kemp + + + Company Secretary + + + AstraZeneca PLC + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +AstraZeneca plc published this content on 13 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2023 14:17:03 UTC. + + diff --git a/news/AZN/2023.02.15/AstraZeneca's Evusheld not recommended by NHS for vulnerable people .txt b/news/AZN/2023.02.15/AstraZeneca's Evusheld not recommended by NHS for vulnerable people .txt new file mode 100644 index 0000000000000000000000000000000000000000..a823ca39508608243395a43c51b4bff79daaf342 --- /dev/null +++ b/news/AZN/2023.02.15/AstraZeneca's Evusheld not recommended by NHS for vulnerable people .txt @@ -0,0 +1 @@ +(Alliance News) - The Covid drug Evusheld will not be recommended by the NHS for people with weakened immune systems.The National Institute for Health & Care Excellence, or Nice, said there is no clinical evidence that the drug, made by AstraZeneca PLC, protects against existing coronavirus variants or those expected to circulate in the next six months.It follows a decision by the Department of Health last year not to back Evusheld due to a lack of evidence of benefit against variants, and a similar decision in the USA last month.Evusheld contains two antibodies against Covid that boost protection for those whose immune systems do not respond well to vaccines.These include people with blood cancer and those who have received organ transplants.Nice said it is now developing a new review process to update recommendations on the cost-effectiveness of Covid treatments "so they can be made available more quickly to patients if they show promise against new variants and are found to be cost-effective".Fiona Loud, policy director at Kidney Care UK, criticised the speed of the Nice analysis.She said: "We believe that Evusheld could have helped vulnerable people over the past year by supporting them to return to normal life, as it has in over 30 countries around the world; but that opportunity was wasted due to the failure to act quickly and decisively."It is clear that the current protracted Nice process is completely inappropriate and has left a huge number of people without protection and reassurance when they needed it most."This is a painful lesson that, in the case of a rapidly mutating virus like Covid-19, time is of the essence for people who remain at greater risk."People who have less protection despite being vaccinated deserve the same urgency that led to the rapid development of effective vaccines that enabled the general population to get back to normal life."By Jane Kirby, PA Health EditorPress Association: Newssource: PACopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.15/Britain's NICE to speed up reviews of COVID-19 treatments.txt b/news/AZN/2023.02.15/Britain's NICE to speed up reviews of COVID-19 treatments.txt new file mode 100644 index 0000000000000000000000000000000000000000..a3552f3d58b53d2c98c18b16d9f5a712552849e8 --- /dev/null +++ b/news/AZN/2023.02.15/Britain's NICE to speed up reviews of COVID-19 treatments.txt @@ -0,0 +1 @@ +By Maggie FickLONDON (Reuters) - Britain's agency that determines if medicines should be used in the National Health Service (NHS) said on Thursday it is speeding up how it decides if COVID-19 therapies are still effective against circulating variants.The new review process will enable the agency to update its recommendations on the cost-effectiveness of COVID treatments so they can be made available more swiftly to patients, it said."The rapidly evolving nature of COVID-19 means we need to have a way of establishing the cost effectiveness of existing medicines against current variants in an agile way," the National Institute for Health and Care Excellence (NICE) said.It said it will "monitor real world data and re-evaluate the medicines as needed against that data in a faster way than we currently do for other drugs."The agency decided that a quicker update system was needed for COVID-19 medicines than for other medicines, a spokesperson told Reuters, adding that, in come cases, evidence has emerged swiftly that shows certain monoclonal antibody treatments have different effectiveness against new variants compared to when NICE's recommendation was made.One expert said the new review system was a smart move."NICE recognise that the virus is evolving faster than the evidence can be produced and their assessment process can be undertaken, so that they need to find a way of more rapidly assessing treatments for the immune vulnerable," said Alex Richter, Director of the Clinical Immunology Service at the University of Birmingham.The spokesperson cited the example of Evusheld, a antibody therapy from AstraZeneca. NICE said in its statement that it does not recommend the use of Evusheld for preventing COVID-19 in adults who are unlikely to have an adequate immune response to vaccination, or for whom vaccination is not recommended. It said there is no evidence of Evusheld's clinicial effectiveness against current variants and those likely to be circulating in the next 6 months.The agency is still evaluating Evusheld's efficacy when it's used to prevent COVID-19 infection in adults who are at high risk of severe disease, such as people with cancer. Evusheld was initially approved by the UK drugs regulator as a preventative therapy in March 2022, but the government said in August that it would not be procuring the treatment. The announcement comes as demand for COVID treatments appears set to drop this year, due to population immunity from high rates of vaccination and previous infections. With COVID-related deaths and cases down significantly, many countries are navigating how to transition from the public health emergency phase, and facing questions about the cost to their budgets of COVID care moving forward. (Reporting by Maggie Fick; Additional reporting by Natalie Grover; Editing by Mike Harrison) \ No newline at end of file diff --git a/news/AZN/2023.02.15/Bryan Garnier starts Unilever with 'neutral'.txt b/news/AZN/2023.02.15/Bryan Garnier starts Unilever with 'neutral'.txt new file mode 100644 index 0000000000000000000000000000000000000000..27dd90ba1219e0beb52a64f02ca6f100610b793b --- /dev/null +++ b/news/AZN/2023.02.15/Bryan Garnier starts Unilever with 'neutral'.txt @@ -0,0 +1 @@ +(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:----------FTSE 100----------Stifel cuts AstraZeneca price target to 12,650 (12,800) pence - 'buy'----------UBS raises M&G price target to 235 (215) pence - 'buy'----------UBS raises Legal & General price target to 250 (240) pence - 'neutral'----------UBS raises Aviva price target to 505 (490) pence - 'buy'----------Bryan Garnier starts Unilever with 'neutral'----------Deutsche Bank raises Coca-Cola HBC target to 2,580 (2,420) pence - 'buy'----------Bank of America raises Coca-Cola HBC price target to 2,700 (2,500) pence - 'buy'----------Goldman Sachs raises Coca-Cola HBC price target to 2,600 (2,500) pence - 'buy' ----------FTSE 250----------Oddo BHF raises Tui price target to 1.80 (1.50) EUR - 'underperform'----------Deutsche Bank raises Tui price target to 168 (152) pence - 'hold'----------Deutsche Bank raises Tui price target to 1.90 (1.80) EUR - 'hold'----------Berenberg raises Pets at Home price target to 430 (370) pence - 'buy'----------Barclays cuts Trainline price target to 270 (280) pence - 'underweight'----------Barclays cuts Domino's Pizza price target to 370 (410) pence - 'equal weight'----------JPMorgan raises Spectris price target to 3,100 (3,050) pence - 'neutral' ----------Copyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.16/ASTRAZENECA : Gets a Buy rating from Deutsche Bank.txt b/news/AZN/2023.02.16/ASTRAZENECA : Gets a Buy rating from Deutsche Bank.txt new file mode 100644 index 0000000000000000000000000000000000000000..a4b2974b72da8a086a18d90399cd6741e22b147e --- /dev/null +++ b/news/AZN/2023.02.16/ASTRAZENECA : Gets a Buy rating from Deutsche Bank.txt @@ -0,0 +1 @@ +Deutsche Bank analyst Emmanuel Papadakis maintains his Buy rating on the stock. The target price continues to be set at GBX 13000. \ No newline at end of file diff --git a/news/AZN/2023.02.16/AstraZeneca and Merck present final results of key secondary overall survival endpoint ...txt b/news/AZN/2023.02.16/AstraZeneca and Merck present final results of key secondary overall survival endpoint ...txt new file mode 100644 index 0000000000000000000000000000000000000000..aa79b83d0a35837748737f8d7455eadaf49ca1f7 --- /dev/null +++ b/news/AZN/2023.02.16/AstraZeneca and Merck present final results of key secondary overall survival endpoint ...txt @@ -0,0 +1,323 @@ + +Results from the final prespecified overall survival (OS) analysis of the PROpel Phase III trial in metastatic castration-resistant prostate cancer (mCRPC) showed LYNPARZA® (olaparib), jointly developed and commercialized by AstraZeneca and Merck & Co., Inc., known as MSD outside the US and Canada in combination with abiraterone and prednisone or prednisolone demonstrated median OS of 42.1 months versus 34.7 months for abiraterone plus placebo. This result represents a 7.4-month absolute difference in median OS versus a standard of care (47.9% maturity, hazard ratio [HR] of 0.81, 95% confidence interval [CI] 0.67-1.00; p=0.0544). + +While this numerical increase in median OS did not achieve statistical significance, this clinical activity builds on the meaningful survival gains achieved for patients in this setting treated with abiraterone alone, a current standard of care. Results will be presented today in an oral presentation at the 2023 American Society of Clinical Oncology (ASCO) Genitourinary (GU) Cancers Symposium (#LBA16). + +In the primary analysis presented at ASCO GU 2022, and published in The New England Journal of Medicine Evidence, PROpel met its primary endpoint of radiographic progression-free survival (rPFS), showing that LYNPARZA in combination with abiraterone significantly reduced the risk of disease progression or death by 34% versus abiraterone alone (HR 0.66; 95% CI 0.54-0.81; p<0.0001). + +Noel Clarke, Urological Surgeon and Professor of Urological Oncology at Manchester’s Christie/Salford Royal Hospitals and Manchester University, and a senior investigator in the PROpel trial, said: “From the primary radiographic progression-free survival analysis presented at ASCO GU last year to the updated overall survival data presented today, the data reinforce the therapeutic potential of olaparib plus abiraterone and prednisone for patients with metastatic castration-resistant prostate cancer in the overall trial population and across subgroups. The results of PROpel are important for patients and the oncology community alike, providing support for this combination as a potential and critically needed new treatment option in metastatic castration-resistant prostate cancer.” + +Susan Galbraith, Executive Vice President, Oncology R&D, AstraZeneca, said: “Both PARP, the target of LYNPARZA, and the androgen receptor are important for providing DNA repair in prostate cancer. The results in the overall trial population from PROpel illustrate how the combination of LYNPARZA and abiraterone can exploit the dependency of the androgen receptor’s role in DNA repair on PARP to provide greater anticancer activity than abiraterone alone. Based on the totality of the data, it is notable to see this combination delivering a meaningful benefit in a broad population of patients in this setting, which is further underscored by the recent indication approved in the EU.” + +Dr Eliav Barr, Head, Global Clinical Development and Chief Medical Officer, Merck & Co, Inc. Research Laboratories, said: “Prostate cancer is the second most commonly diagnosed cancer in patients assigned male at birth, and mortality is estimated to almost double over the next 20 years. With limited treatment options for these patients, we recognize the critical need for therapies that can delay disease progression. We are proud of our collaboration with AstraZeneca as we work together to advance pending regulatory reviews and bring a new treatment option to the prostate cancer community.” + +Summary of results on key secondary OS endpoint across subgroups + +  + +LYNPARZA + abiraterone + +Placebo + abiraterone + +ITT + +  + +  + +Number of patients (n) + +399 + +397 + +Median OS in months + +42.1 + +34.7 + +HR (95% CI) + +0.81 (0.67, 1.00) + +HRRm + +  + +  + +Number of patients (n) + +111 + +115 + +Median OS in months + +NR + +28.5 + +HR (95% CI) + +0.66 (0.45, 0.95) + +Non-HRRm + +  + +  + +Number of patients (n) + +279 + +273 + +Median OS in months + +42.1 + +38.9 + +HR (95% CI) + +0.89 (0.70, 1.14) + +BRCAm + +  + +  + +Number of patients (n) + +47 + +38 + +Median OS in months + +NR + +23.0 + +HR (95% CI) + +0.29 (0.14, 0.56) + +Non-BRCAm + +  + +  + +Number of patients (n) + +343 + +350 + +Median OS in months + +39.6 + +38.0 + +HR (95% CI) + +0.91 (0.73, 1.13) + +*18 patients with unknown HRRm status were excluded from subgroup analysis. NR, not reached + +The safety and tolerability of LYNPARZA plus abiraterone was in line with that observed in prior clinical trials and the known profiles of the individual medicines. At the time of this updated analysis, there were no new long-term safety issues identified. + +The most common adverse events (AEs) in the LYNPARZA plus abiraterone arm (greater than or equal to 20% of patients) were anemia (49.7%), fatigue (38.7%), nausea (30.7%), back pain (21.6%) and diarrhea (20.6%). Approximately 83% of patients treated with LYNPARZA plus abiraterone who experienced AEs remained on treatment at the time of data cut-off. + +LYNPARZA in combination with abiraterone was approved by the European Commission in December 2022 for the treatment of mCRPC in adult men for whom chemotherapy is not clinically indicated and is currently undergoing regulatory review in other countries. + +IMPORTANT SAFETY INFORMATION + +CONTRAINDICATIONS + +There are no contraindications for LYNPARZA. + +WARNINGS AND PRECAUTIONS + +Myelodysplastic Syndrome/Acute Myeloid Leukemia (MDS/AML): Occurred in approximately 1.5% of patients exposed to LYNPARZA monotherapy, and the majority of events had a fatal outcome. The median duration of therapy in patients who developed MDS/AML was 2 years (range: <6 months to >10 years). All of these patients had previous chemotherapy with platinum agents and/or other DNA-damaging agents, including radiotherapy. + +Do not start LYNPARZA until patients have recovered from hematological toxicity caused by previous chemotherapy (≤Grade 1). Monitor complete blood count for cytopenia at baseline and monthly thereafter for clinically significant changes during treatment. For prolonged hematological toxicities, interrupt LYNPARZA and monitor blood count weekly until recovery. + +If the levels have not recovered to Grade 1 or less after 4 weeks, refer the patient to a hematologist for further investigations, including bone marrow analysis and blood sample for cytogenetics. Discontinue LYNPARZA if MDS/AML is confirmed. + +Pneumonitis: Occurred in 0.8% of patients exposed to LYNPARZA monotherapy, and some cases were fatal. If patients present with new or worsening respiratory symptoms such as dyspnea, cough, and fever, or a radiological abnormality occurs, interrupt LYNPARZA treatment and initiate prompt investigation. Discontinue LYNPARZA if pneumonitis is confirmed and treat patient appropriately. + +Venous Thromboembolic Events (VTE): Including severe or fatal pulmonary embolism (PE) occurred in patients treated with LYNPARZA. VTE occurred in 7% of patients with metastatic castration-resistant prostate cancer who received LYNPARZA plus androgen deprivation therapy (ADT) compared to 3.1% of patients receiving enzalutamide or abiraterone plus ADT in the PROfound study. Patients receiving LYNPARZA and ADT had a 6% incidence of pulmonary embolism compared to 0.8% of patients treated with ADT plus either enzalutamide or abiraterone. Monitor patients for signs and symptoms of venous thrombosis and pulmonary embolism, and treat as medically appropriate, which may include long-term anticoagulation as clinically indicated. + +Embryo-Fetal Toxicity: Based on its mechanism of action and findings in animals, LYNPARZA can cause fetal harm. A pregnancy test is recommended for females of reproductive potential prior to initiating treatment. + +Females + +Advise females of reproductive potential of the potential risk to a fetus and to use effective contraception during treatment and for 6 months following the last dose. + +Males + +Advise male patients with female partners of reproductive potential or who are pregnant to use effective contraception during treatment and for 3 months following the last dose of LYNPARZA and to not donate sperm during this time. + +ADVERSE REACTIONS—First-Line Maintenance BRCAm Advanced Ovarian Cancer + +Most common adverse reactions (Grades 1-4) in ≥10% of patients who received LYNPARZA in the first-line maintenance setting for SOLO-1 were: nausea (77%), fatigue (67%), abdominal pain (45%), vomiting (40%), anemia (38%), diarrhea (37%), constipation (28%), upper respiratory tract infection/influenza/nasopharyngitis/bronchitis (28%), dysgeusia (26%), decreased appetite (20%), dizziness (20%), neutropenia (17%), dyspepsia (17%), dyspnea (15%), leukopenia (13%), urinary tract infection (13%), thrombocytopenia (11%), and stomatitis (11%). + +Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients who received LYNPARZA in the first-line maintenance setting for SOLO-1 were: decrease in hemoglobin (87%), increase in mean corpuscular volume (87%), decrease in leukocytes (70%), decrease in lymphocytes (67%), decrease in absolute neutrophil count (51%), decrease in platelets (35%), and increase in serum creatinine (34%). + +ADVERSE REACTIONS—First-Line Maintenance Advanced Ovarian Cancer in Combination with Bevacizumab + +Most common adverse reactions (Grades 1-4) in ≥10% of patients treated with LYNPARZA/bevacizumab and at a ≥5% frequency compared to placebo/bevacizumab in the first-line maintenance setting for PAOLA-1 were: nausea (53%), fatigue (including asthenia) (53%), anemia (41%), lymphopenia (24%), vomiting (22%), and leukopenia (18%). In addition, the most common adverse reactions (≥10%) for patients receiving LYNPARZA/bevacizumab irrespective of the frequency compared with the placebo/bevacizumab arm were: diarrhea (18%), neutropenia (18%), urinary tract infection (15%), and headache (14%). + +In addition, venous thromboembolic events occurred more commonly in patients receiving LYNPARZA/bevacizumab (5%) than in those receiving placebo/bevacizumab (1.9%). + +Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients for LYNPARZA in combination with bevacizumab in the first-line maintenance setting for PAOLA-1 were: decrease in hemoglobin (79%), decrease in lymphocytes (63%), increase in serum creatinine (61%), decrease in leukocytes (59%), decrease in absolute neutrophil count (35%), and decrease in platelets (35%). + +ADVERSE REACTIONS—Maintenance Recurrent Ovarian Cancer + +Most common adverse reactions (Grades 1-4) in ≥20% of patients who received LYNPARZA in the maintenance setting for SOLO-2 were: nausea (76%), fatigue (including asthenia) (66%), anemia (44%), vomiting (37%), nasopharyngitis/upper respiratory tract infection (URI)/influenza (36%), diarrhea (33%), arthralgia/myalgia (30%), dysgeusia (27%), headache (26%), decreased appetite (22%), and stomatitis (20%). + +Study 19: nausea (71%), fatigue (including asthenia) (63%), vomiting (35%), diarrhea (28%), anemia (23%), respiratory tract infection (22%), constipation (22%), headache (21%), decreased appetite (21%), and dyspepsia (20%). + +Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients who received LYNPARZA in the maintenance setting (SOLO-2/Study 19) were: increase in mean corpuscular volume (89%/82%), decrease in hemoglobin (83%/82%), decrease in leukocytes (69%/58%), decrease in lymphocytes (67%/52%), decrease in absolute neutrophil count (51%/47%), increase in serum creatinine (44%/45%), and decrease in platelets (42%/36%). + +ADVERSE REACTIONS—Adjuvant Treatment of gBRCAm, HER2-Negative, High-Risk Early Breast Cancer + +Most common adverse reactions (Grades 1-4) in ≥10% of patients who received LYNPARZA in the adjuvant setting for OlympiA were: nausea (57%), fatigue (including asthenia) (42%), anemia (24%), vomiting (23%), headache (20%), diarrhea (18%), leukopenia (17%), neutropenia (16%), decreased appetite (13%), dysgeusia (12%), dizziness (11%), and stomatitis (10%). + +Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients who received LYNPARZA in the adjuvant setting for OlympiA were: decrease in lymphocytes (77%), increase in mean corpuscular volume (67%), decrease in hemoglobin (65%), decrease in leukocytes (64%), and decrease in absolute neutrophil count (39%). + +ADVERSE REACTIONS—gBRCAm, HER2-Negative Metastatic Breast Cancer + +Most common adverse reactions (Grades 1-4) in ≥20% of patients who received LYNPARZA in the metastatic setting for OlympiAD were: nausea (58%), anemia (40%), fatigue (including asthenia) (37%), vomiting (30%), neutropenia (27%), respiratory tract infection (27%), leukopenia (25%), diarrhea (21%), and headache (20%). + +Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients who received LYNPARZA in the metastatic setting for OlympiAD were: decrease in hemoglobin (82%), decrease in lymphocytes (73%), decrease in leukocytes (71%), increase in mean corpuscular volume (71%), decrease in absolute neutrophil count (46%), and decrease in platelets (33%). + +ADVERSE REACTIONS—First-Line Maintenance gBRCAm Metastatic Pancreatic Adenocarcinoma + +Most common adverse reactions (Grades 1-4) in ≥10% of patients who received LYNPARZA in the first-line maintenance setting for POLO were: fatigue (60%), nausea (45%), abdominal pain (34%), diarrhea (29%), anemia (27%), decreased appetite (25%), constipation (23%), vomiting (20%), back pain (19%), arthralgia (15%), rash (15%), thrombocytopenia (14%), dyspnea (13%), neutropenia (12%), nasopharyngitis (12%), dysgeusia (11%), and stomatitis (10%). + +Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients who received LYNPARZA in the first-line maintenance setting for POLO were: increase in serum creatinine (99%), decrease in hemoglobin (86%), increase in mean corpuscular volume (71%), decrease in lymphocytes (61%), decrease in platelets (56%), decrease in leukocytes (50%), and decrease in absolute neutrophil count (25%). + +ADVERSE REACTIONS—HRR Gene-mutated Metastatic Castration-Resistant Prostate Cancer + +Most common adverse reactions (Grades 1-4) in ≥10% of patients who received LYNPARZA for PROfound were: anemia (46%), fatigue (including asthenia) (41%), nausea (41%), decreased appetite (30%), diarrhea (21%), vomiting (18%), thrombocytopenia (12%), cough (11%), and dyspnea (10%). + +Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients who received LYNPARZA for PROfound were: decrease in hemoglobin (98%), decrease in lymphocytes (62%), decrease in leukocytes (53%), and decrease in absolute neutrophil count (34%). + +DRUG INTERACTIONS + +Anticancer Agents: Clinical studies of LYNPARZA with other myelosuppressive anticancer agents, including DNA-damaging agents, indicate a potentiation and prolongation of myelosuppressive toxicity. + +CYP3A Inhibitors: Avoid coadministration of strong or moderate CYP3A inhibitors when using LYNPARZA. If a strong or moderate CYP3A inhibitor must be coadministered, reduce the dose of LYNPARZA. Advise patients to avoid grapefruit, grapefruit juice, Seville oranges, and Seville orange juice during LYNPARZA treatment. + +CYP3A Inducers: Avoid coadministration of strong or moderate CYP3A inducers when using LYNPARZA. + +USE IN SPECIFIC POPULATIONS + +Lactation: No data are available regarding the presence of olaparib in human milk, its effects on the breastfed infant or on milk production. Because of the potential for serious adverse reactions in the breastfed infant, advise a lactating woman not to breastfeed during treatment with LYNPARZA and for 1 month after receiving the final dose. + +Pediatric Use: The safety and efficacy of LYNPARZA have not been established in pediatric patients. + +Hepatic Impairment: No adjustment to the starting dose is required in patients with mild or moderate hepatic impairment (Child-Pugh classification A and B). There are no data in patients with severe hepatic impairment (Child-Pugh classification C). + +Renal Impairment: No dosage modification is recommended in patients with mild renal impairment (CLcr 51-80 mL/min estimated by Cockcroft-Gault). In patients with moderate renal impairment (CLcr 31-50 mL/min), reduce the dose of LYNPARZA to 200 mg twice daily. There are no data in patients with severe renal impairment or end-stage renal disease (CLcr ≤30 mL/min). + +INDICATIONS + +LYNPARZA is a poly (ADP-ribose) polymerase (PARP) inhibitor indicated: + +First-Line Maintenance BRCAm Advanced Ovarian Cancer + +For the maintenance treatment of adult patients with deleterious or suspected deleterious germline or somatic BRCA-mutated (gBRCAm or sBRCAm) advanced epithelial ovarian, fallopian tube, or primary peritoneal cancer who are in complete or partial response to first-line platinum-based chemotherapy. Select patients for therapy based on an FDA-approved companion diagnostic for LYNPARZA. + +First-Line Maintenance HRD-Positive Advanced Ovarian Cancer in Combination with Bevacizumab + +In combination with bevacizumab for the maintenance treatment of adult patients with advanced epithelial ovarian, fallopian tube or primary peritoneal cancer who are in complete or partial response to first-line platinum-based chemotherapy and whose cancer is associated with homologous recombination deficiency (HRD)-positive status defined by either: + +Select patients for therapy based on an FDA-approved companion diagnostic for LYNPARZA. + +Maintenance Recurrent Ovarian Cancer + +For the maintenance treatment of adult patients with recurrent epithelial ovarian, fallopian tube, or primary peritoneal cancer, who are in complete or partial response to platinum-based chemotherapy. + +Adjuvant Treatment of gBRCAm, HER2-Negative, High-Risk Early Breast Cancer + +For the adjuvant treatment of adult patients with deleterious or suspected deleterious gBRCAm, human epidermal growth factor receptor 2 (HER2)-negative high-risk early breast cancer who have been treated with neoadjuvant or adjuvant chemotherapy. Select patients for therapy based on an FDA-approved companion diagnostic for LYNPARZA. + +gBRCAm, HER2-Negative Metastatic Breast Cancer + +For the treatment of adult patients with deleterious or suspected deleterious gBRCAm, human epidermal growth factor receptor 2 (HER2)-negative metastatic breast cancer who have been treated with chemotherapy in the neoadjuvant, adjuvant, or metastatic setting. Patients with hormone receptor (HR)-positive breast cancer should have been treated with a prior endocrine therapy or be considered inappropriate for endocrine therapy. Select patients for therapy based on an FDA-approved companion diagnostic for LYNPARZA. + +First-Line Maintenance gBRCAm Metastatic Pancreatic Cancer + +For the maintenance treatment of adult patients with deleterious or suspected deleterious gBRCAm metastatic pancreatic adenocarcinoma whose disease has not progressed on at least 16 weeks of a first-line platinum-based chemotherapy regimen. Select patients for therapy based on an FDA-approved companion diagnostic for LYNPARZA. + +HRR Gene-mutated Metastatic Castration-Resistant Prostate Cancer + +For the treatment of adult patients with deleterious or suspected deleterious germline or somatic homologous recombination repair (HRR) gene-mutated metastatic castration-resistant prostate cancer (mCRPC) who have progressed following prior treatment with enzalutamide or abiraterone. Select patients for therapy based on an FDA-approved companion diagnostic for LYNPARZA. + +Please see complete Prescribing Information, including Medication Guide. + +Notes + +Prostate cancer + +Prostate cancer is the second most commonly diagnosed cancer in men and the fifth leading cause of cancer death in men globally, with an incidence of 1.4 million and 375,000 deaths in 2020.1,2,3 In the United States, it is estimated that there were 268,490 new cases and 34,500 deaths in 2022.4,5 Overall survival for patients with mCRPC is approximately three years in clinical trial settings, and even shorter in the real-world.6 Approximately half of patients with mCRPC may receive only one line of active treatment, with diminishing benefit of subsequent therapies.7-12 + +Metastatic castration-resistant prostate cancer + +Metastatic prostate cancer is associated with a significant mortality rate.14 Development of prostate cancer is often driven by male sex hormones called androgens, including testosterone.15 + +In patients with mCRPC, their prostate cancer grows and spreads to other parts of the body despite the use of androgen-deprivation therapy to block the action of male sex hormones.16 Approximately 10-20% of men with advanced prostate cancer will develop castration-resistant prostate cancer (CRPC) within five years, and at least 84% of these men will have metastases at the time of CRPC diagnosis.16 Of patients with no metastases at CRPC diagnosis, 33% are likely to develop metastases within two years.16 + +Despite the advances in mCRPC treatment in the past decade with taxane and new hormonal agent (NHA) treatment, there is high unmet need in this population.16-19 + +PROpel + +PROpel is a randomized, double-blind, multi-center Phase III trial testing the efficacy, safety, and tolerability of LYNPARZA versus placebo when given in addition to abiraterone, as well as prednisone or prednisolone, in men with mCRPC who had not received prior chemotherapy or NHAs in the mCRPC setting. + +The primary endpoint is rPFS and secondary endpoints include overall survival, time to secondary progression or death, and time to first subsequent therapy. + +In the PROpel Phase III trial, LYNPARZA is combined with abiraterone, an NHA which targets the androgen receptor (AR) pathway. AR signaling engages a transcriptional program that is critical for tumor cell growth and survival in prostate cancer.20,21 In addition, the AR also plays a role in repairing DNA damage in prostate cancer cells, including damage not normally repaired by HRR. Preclinical models have suggested a number of potential mechanisms that could account for increased combination efficacy in both HRR deficient and HRR proficient prostate cancer. 22,23,24,26,27 Recent data provides evidence that PARP facilitates AR-DNA binding in the presence of DNA damage (AZ internal data on file) and that combined inhibition of PARP with LYNPARZA and AR activity with an NHA results in enhanced DNA damage and anti-tumor activity in non-HRRm prostate cancer models.22,24 + +For more information about the trial please visit ClinicalTrials.gov. + +LYNPARZA + +LYNPARZA® (olaparib) is a first-in-class PARP inhibitor and the first targeted treatment to block DNA damage response (DDR) in cells/tumors harboring a deficiency in HRR, such as those with mutations in BRCA1 and/or BRCA2, or those where deficiency is induced by other agents (such as NHAs). + +Inhibition of PARP with LYNPARZA leads to the trapping of PARP bound to DNA single-strand breaks, stalling of replication forks, their collapse and the generation of DNA double-strand breaks and cancer cell death. + +LYNPARZA is currently approved in a number of countries across multiple tumor types including maintenance treatment of platinum-sensitive relapsed ovarian cancer and as both monotherapy and in combination with bevacizumab for the 1st-line maintenance treatment of BRCA-mutated (BRCAm) and homologous recombination repair deficient (HRD)-positive advanced ovarian cancer, respectively; for gBRCAm, HER2-negative metastatic breast cancer (in the EU and Japan this includes locally advanced breast cancer); for gBRCAm, HER2-negative high-risk early breast cancer (in Japan this includes all BRCAm HER2-negative high-risk early breast cancer); for gBRCAm metastatic pancreatic cancer; and HRR gene-mutated metastatic castration-resistant prostate cancer (BRCAm only in the EU and Japan). In China, LYNPARZA is approved for the treatment of BRCA-mutated metastatic castration-resistant prostate cancer as well as a 1st-line maintenance therapy in BRCA-mutated advanced ovarian cancer. + +LYNPARZA, which is being jointly developed and commercialized by AstraZeneca and Merck, has been used to treat over 75,000 patients worldwide. LYNPARZA has a broad clinical trial development program, and AstraZeneca and Merck & Co, Inc. are working together to understand how it may affect multiple PARP-dependent tumors as a monotherapy and in combination across multiple cancer types. LYNPARZA is the foundation of AstraZeneca's industry-leading portfolio of potential new medicines targeting DDR mechanisms in cancer cells. + +The AstraZeneca and Merck strategic oncology collaboration + +In July 2017, AstraZeneca and Merck & Co., Inc., Kenilworth, NJ, US, known as MSD outside the US and Canada, announced a global strategic oncology collaboration to co-develop and co-commercialize LYNPARZA, the world’s first PARP inhibitor, and selumetinib, a mitogen-activated protein kinase (MEK) inhibitor, for multiple cancer types. + +Working together, the companies will develop LYNPARZA and selumetinib and other potential new medicines as monotherapies and as combinations. The companies will also develop LYNPARZA and selumetinib in combination with their respective PD-L1 and PD-1 medicines independently. + +AstraZeneca in oncology + +AstraZeneca is leading a revolution in oncology with the ambition to provide cures for cancer in every form, following the science to understand cancer and all its complexities to discover, develop and deliver life-changing medicines to patients. + +The Company's focus is on some of the most challenging cancers. It is through persistent innovation that AstraZeneca has built one of the most diverse portfolios and pipelines in the industry, with the potential to catalyze changes in the practice of medicine and transform the patient experience. + +AstraZeneca has the vision to redefine cancer care and, one day, eliminate cancer as a cause of death. + +About AstraZeneca + +AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialization of prescription medicines in Oncology, Rare Diseases, and Biopharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit www.astrazeneca-us.com and follow the Company on Twitter @AstraZenecaUS. + +References + +US-72847 Last Updated 02/23 +View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005538/en/ \ No newline at end of file diff --git a/news/AZN/2023.02.16/UK dividends calendar - next 7 days.txt b/news/AZN/2023.02.16/UK dividends calendar - next 7 days.txt new file mode 100644 index 0000000000000000000000000000000000000000..e69de29bb2d1d6434b8b29ae775ad8c2e48c5391 diff --git a/news/AZN/2023.02.17/AstraZeneca and MSD present final results of key secondary overall survival endpoint fr...txt b/news/AZN/2023.02.17/AstraZeneca and MSD present final results of key secondary overall survival endpoint fr...txt new file mode 100644 index 0000000000000000000000000000000000000000..5a743905bf12fbeb3fcc34b6d19319063bff4db4 --- /dev/null +++ b/news/AZN/2023.02.17/AstraZeneca and MSD present final results of key secondary overall survival endpoint fr...txt @@ -0,0 +1 @@ +Results showed an absolute difference of an additional 7.4 months in median overall survival for Lynparza plus abiraterone in this setting vs. abiraterone aloneResults from the final prespecified overall survival (OS) analysis of the PROpel Phase III trial in metastatic castration-resistant prostate cancer (mCRPC) showed AstraZeneca and MSD's Lynparza (olaparib) in combination with abiraterone and prednisone or prednisolone demonstrated median overall survival (OS) of 42.1 months versus 34.7 months for abiraterone plus placebo. This result represents a 7.4-month absolute difference in median OS versus a standard of care (47.9% maturity, hazard ratio [HR] of 0.81, 95% confidence interval [CI] 0.67-1.00; p=0.0544).While this numerical increase in median OS did not achieve statistical significance, this clinical activity builds on the meaningful survival gains achieved for patients in this setting treated with abiraterone alone, a current standard of care. Results will be presented today in an oral presentation at the 2023 American Society of Clinical Oncology (ASCO) Genitourinary (GU) Cancers Symposium (#LBA16).In the primary analysis presented at ASCO GU 2022, and published in The New England Journal of Medicine Evidence, PROpel met its primary endpoint of radiographic progression-free survival (rPFS), showing that Lynparza in combination with abiraterone significantly reduced the risk of disease progression or death by 34% versus abiraterone alone (HR 0.66; 95% CI 0.54-0.81; p.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.02.17/UK dividends calendar - next 7 days.txt b/news/AZN/2023.02.17/UK dividends calendar - next 7 days.txt new file mode 100644 index 0000000000000000000000000000000000000000..e69de29bb2d1d6434b8b29ae775ad8c2e48c5391 diff --git a/news/AZN/2023.02.20/UK dividends calendar - next 7 days.txt b/news/AZN/2023.02.20/UK dividends calendar - next 7 days.txt new file mode 100644 index 0000000000000000000000000000000000000000..e69de29bb2d1d6434b8b29ae775ad8c2e48c5391 diff --git a/news/AZN/2023.02.21/ASTRAZENECA : UBS remains Neutral.txt b/news/AZN/2023.02.21/ASTRAZENECA : UBS remains Neutral.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d7949173c20d202ad36a786b0c2a4ffb1b48489 --- /dev/null +++ b/news/AZN/2023.02.21/ASTRAZENECA : UBS remains Neutral.txt @@ -0,0 +1 @@ +In a research note, UBS analyst Michael Leuchten has maintained his recommendation on the stock with a Neutral rating. The target price is reviewed upwards from GBX 10100 to GBX 11900. \ No newline at end of file diff --git a/news/AZN/2023.02.21/AstraZeneca reports protection against RSV in infants with Beyfortus .txt b/news/AZN/2023.02.21/AstraZeneca reports protection against RSV in infants with Beyfortus .txt new file mode 100644 index 0000000000000000000000000000000000000000..c42585499a29e0d0969811772e819d385b38d530 --- /dev/null +++ b/news/AZN/2023.02.21/AstraZeneca reports protection against RSV in infants with Beyfortus .txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC on Tuesday said Beyfortus continues to show consistent protection against respiratory syncytial virus in infants. RSV is a contagious virus that causes respiratory illness in infants, including lung infections such as bronchiolitis and pneumonia.The Cambridge, England-based pharmaceutical firm said it will showcase new data across its vaccines and immune therapies RSV portfolio at the ReSViNe conference in Lisbon, Portugal on Wednesday and Thursday.Astra said the data which feature Beyfortus and Synagis will reinforce its commitment to help protect infants from RSV. Beyfortus and Synagis are used to prevent lower respiratory tract disease caused by RSV in newborns.The company said the findings are from the Phase III 'Melody' clinical trial investigating Beyfortus, also known as nirsevimab, which is a long-acting antibody designed to protect all infants through their first RSV season wit a single dose.Iskra Reic, Astra's executive vice president for Vaccines & Immune Therapies, said: "I am proud of AstraZeneca’s commitment to respiratory syncytial virus and our continued focus on innovating antibodies to provide protection to the most vulnerable. We believe that Beyfortus has the potential to transform the medical community’s approach to preventing RSV infections in infants, and this is of particular importance given the recent surges of the virus amongst infants this past winter season."Astra added that a new Canadian analysis showed Synagis, or palivizumab, to be highly cost-effective. Shares were up 0.8% at 11,626.00 pence each on Tuesday morning in London. By Xindi Wei, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.21/BoA cuts DS Smith; Jefferies likes JTC.txt b/news/AZN/2023.02.21/BoA cuts DS Smith; Jefferies likes JTC.txt new file mode 100644 index 0000000000000000000000000000000000000000..bbb71a7bc94bd491856ff17794a101ce9a014efe --- /dev/null +++ b/news/AZN/2023.02.21/BoA cuts DS Smith; Jefferies likes JTC.txt @@ -0,0 +1 @@ +(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:----------FTSE 100---------UBS raises AstraZeneca price target to 11,900 (10,100) pence - 'neutral'----------DZ Bank raises fair value for Unilever to 4,550 (4,400) pence - 'hold'----------Goldman Sachs raises AB Foods price target to 2,040 (2,000) pence - 'neutral'----------Goldman Sachs raises Kingfisher price target to 305 (250) pence - 'neutral'----------UBS raises Standard Chartered price target to 890 (825) pence - 'buy'----------JPMorgan cuts Antofagasta price target to 1,260 (1,280) pence - 'neutral'----------Citigroup cuts Glencore price target to 650 (700) pence - 'buy'----------Bank of America cuts DS Smith to 'neutral' (buy)----------Goldman Sachs raises JD Sports Fashion to 'conviction buy list' (buy) - price target 270 (230) pence----------Goldman Sachs raises B&M price target to 600 (560) pence - 'buy'----------Goldman Sachs raises Next price target to 7,750 (6,800) pence - 'neutral'----------JPMorgan raises Segro price target to 1,000 (960) pence - 'overweight'----------RBC raises Segro price target to 975 (925) pence - 'outperform'----------JPMorgan raises NatWest price target to 330 (310) pence - 'neutral'----------Barclays starts International Consolidated Airlines with 'equal weight' - price target 160 pence----------FTSE 250----------Barclays cuts Wizz Air to 'underweight' (overweight) - price target 2,400 (3,000) pence----------Barclays starts easyJet with 'equal weight' - price target 510 pence----------Goldman Sachs raises Asos price target to 1,050 (850) pence - 'neutral'----------Goldman Sachs raises Marks & Spencer price target to 165 (145) pence - 'sell'----------Numis raises Dunelm Group price target to 1,450 (1,350) pence - 'buy'----------Jefferies starts IntegraFin with 'hold' - price target 330 pence----------Jefferies starts JTC with 'buy' - price target 860 pence----------Berenberg raises Howden Joinery Group to 'buy' (hold) - price target 870 (620) pence----------Berenberg raises Marshalls Group price target to 350 (280) pence - 'hold'----------Numis raises IG Group price target to 1,150 (1,100) pence - 'buy'----------Numis cuts Moneysupermarket.com to 'add' (buy) - price target 260 pence----------SMALL CAP----------Goldman Sachs raises Boohoo price target to 60 (55) pence - 'neutral'----------Barclays starts Ryanair with 'overweight' - price target 23 eur----------Berenberg cuts TT Electronics price target to 260 (280) pence - 'buy'----------Berenberg cuts XP Power to 'hold' (buy) - price target 2,430 pence----------Numis cuts GB Group price target to 600 (720) pence - 'buy'----------Copyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.21/ReSViNet 2023 data reinforce AstraZeneca's commitment to help prevent Respiratory Syncy...txt b/news/AZN/2023.02.21/ReSViNet 2023 data reinforce AstraZeneca's commitment to help prevent Respiratory Syncy...txt new file mode 100644 index 0000000000000000000000000000000000000000..b0ced4bc330335b242db66da57aab332401aa8b8 --- /dev/null +++ b/news/AZN/2023.02.21/ReSViNet 2023 data reinforce AstraZeneca's commitment to help prevent Respiratory Syncy...txt @@ -0,0 +1 @@ +Beyfortus continues to demonstrate consistent protection against RSV disease through the RSV seasonNew Canadian analysis demonstrates Synagis to be highly cost-effective in 29-35 weeks gestational age infantsAstraZeneca will showcase new data across its Vaccines and Immune Therapies Respiratory Syncytial Virus (RSV) portfolio at the 7th Respiratory Syncytial Virus Foundation (ReSViNET) Conference in Lisbon, Portugal from 22-24 February 2023, reinforcing its commitment to help protect infants from RSV. The Company is set to present five abstracts and posters at the event, including new data featuring Beyfortus (nirsevimab) and Synagis (palivizumab).Iskra Reic, Executive Vice President, Vaccines and Immune Therapies, AstraZeneca, said: "I am proud of AstraZeneca's commitment to respiratory syncytial virus (RSV) and our continued focus on innovating antibodies to provide protection to the most vulnerable. We believe that Beyfortus has the potential totransform the medical community's approach to preventing RSV infections in infants, and this is of particular importance given the recent surges of the virus amongst infants this past winter season."Underscoring the continued need for RSV protectionAstraZeneca is working with the global clinical community to advance the understanding of RSV and is partnering with the ReSViNET Foundation to create the first global RSV surveillance dashboard set to launch in March 2023. RSV is a highly contagious virus that causes respiratory illness in infants, including lung infections such as bronchiolitis and pneumonia.1 This seasonal respiratory virus is the most common cause of lower respiratory tract infections and a leading cause of hospitalisation in infants.1-5Dr. Louis Bont, Pediatrician Infectologist at the Wilhelmina Children's Hospital in the University Medical Center Utrecht, The Netherlands, and the founder and chairman of ReSViNET, said: "The ReSViNET Foundation's new dashboard will make it easier and more accessible to track worldwide changes in RSV seasonality, helping clinicians to protect babies and prevent the rise in hospitalisations that RSV can cause."Pursuing a breakthrough for broad RSV preventionAstraZeneca is presenting the safety and efficacy findings from the full cohort of the Phase III MELODY clinical trial investigating Beyfortus in healthy late preterm and term infants (35 weeks gestational age or greater) entering their first RSV season. These data reinforce Beyfortus' consistent efficacy across endpoints and studies with approximately 70-80% efficacy against medically attended RSV lower respiratory tract infections vs placebo, including hospitalisations.6-10New cost effectiveness data for high-risk infant protectionSynagis continues to build on 25 years of real-world usage with a new cost effectiveness analysis being presented at ReSViNet. This analysis is the first to incorporate the International Risk Scoring Tool, which helps clinicians identify pre-term infants with the highest risk of hospitalisation.Key AstraZeneca presentations during ReSViNet Conference 2023Abstract titlePresentation detailsSafety and efficacy of nirsevimab for prevention of medically attended RSV lower respiratory tract infection in all infants enrolled in the Phase III MELODY trialOral presentation #35; Session III: (Thursday 23 February, 11:40am-1pm) EPIC SANA Lisboa Hotel, Morus HallSafety and pharmacokinetics of nirsevimab for prevention of RSV disease in children with congenital heart disease or chronic lung disease of prematurityPoster #127; EPIC SANA Lisboa Hotel, FoyerFc mediated function of nirsevimab complements direct RSV neutralisation but is not required for optimal protection in preclinical modelsPoster #184; EPIC SANA Lisboa Hotel, FoyerGenotypic and phenotypic features of RSV infections in MEDLEY, a randomised double-blind Phase III study of nirsevimab in children at high risk of severe diseasePoster #170; EPIC SANA Lisboa Hotel, FoyerNew cost-effectiveness analysis of palivizumab for the prevention of RSV infection in otherwise healthy Canadian infants born 29-35 weeks' gestational age (wGA)Poster #155; EPIC SANA Lisboa Hotel, FoyerNotesRSVRSV is the most common cause of lower respiratory infections, including bronchiolitis and pneumonia in infants.1 It is also a leading cause of hospitalisation in all infants.1-5 Globally, in 2019, there were approximately 33 million cases of acute lower respiratory infections leading to more than three million hospitalisations, and it was estimated that there were 26,300 in-hospital deaths of children younger than five years.11 RSV-related direct medical costs, globally - including hospital, outpatient and follow-up care - were estimated at EUR 4.82 billion in 2017.12Beyfortus (nirsevimab)Beyfortus is a single dose long-acting antibody, developed and commercialised in partnership by AstraZeneca and Sanofi using AstraZeneca's YTE technology. It is designed to protect infants entering or during their first RSV season and for children up to 24 months of age who remain vulnerable to severe RSV disease through their second RSV season.Beyfortus has been developed to offer newborns and infants direct RSV protection via an antibody to help prevent LRTI caused by RSV.Monoclonal antibodies do not require the activation of the immune system to help offer timely, rapid and direct protection against disease.14Beyfortus has been granted regulatory and other designations to facilitate expedited development by several major regulatory agencies around the world. These include Breakthrough Therapy Designation by the China Center for Drug Evaluation under the National Medical Products Administration; Breakthrough Therapy Designation from the US Food and Drug Administration; access granted to the European Medicines Agency (EMA) PRIority Medicines (PRIME) scheme; and named "a medicine for prioritized development" under the Project for Drug Selection to Promote New Drug Development in Pediatrics by the Japan Agency for Medical Research and Development (AMED). In November 2022, Beyfortus was approved by the European Commission and by the UK Medicines and Healthcare products Regulatory Agency (MHRA).15-16Sanofi AllianceIn March 2017, AstraZeneca and Sanofi announced an agreement to develop and commercialise nirsevimab. Under the terms of the agreement, AstraZeneca leads all development and manufacturing activities, and Sanofi leads commercialisation activities and records revenue. Under the terms of the global agreement, Sanofi made an upfront payment of EUR 120m, has paid a development milestone of EUR 30m and will pay up to a further EUR 465m upon achievement of certain development and sales-related milestones. The two companies share costs and profits. Revenue from the agreement is reported as Collaboration Revenue in the Company's financial statements.Sobi agreementRelated, in November 2018, AstraZeneca agreed to sell US commercial rights for Synagis (palivizumab) to Swedish Orphan Biovitrum AB (publ) (Sobi) in addition to the right to participate in payments that may be received by AstraZeneca from the US profits or losses for nirsevimab. Under the agreement, AstraZeneca received upfront consideration, non-contingent payments for nirsevimab during 2019-2021, and following the FDA's acceptance of the Biologics License Application (BLA) filing for nirsevimab, will receive a $175m cash payment. AstraZeneca is also entitled to receive certain other milestone payments for nirsevimab, including a $90m cash payment following the date on which BLA approval in the US occurs. AstraZeneca will continue to manufacture and supply nirsevimab globally and is entitled to an additional royalty from Sobi if profits from nirsevimab in the US exceed a pre-specified level.Synagis (palivizumab)Synagis (palivizumab) is an RSV F protein inhibitor monoclonal antibody indicated for the prevention of serious lower respiratory tract disease caused by RSV in paediatric patients with a history of premature birth (less than or equal to 35 weeks gestational age) and who are 6 months of age or younger at the beginning of the RSV season, with bronchopulmonary dysplasia (BPD) that required medical treatment within the previous 6 months and who are 24 months of age or younger at the beginning of the RSV season, or with hemodynamically significant congenital heart disease (CHD) and who are 24 months of age or younger at the beginning of the RSV season.13AstraZenecaAstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca.ContactsFor details on how to contact the Investor Relations Team, please click here. For Media contacts, click here.References1. R K. Respiratory Syncytial Virus Vaccines. Plotkin SA, Orenstein WA, Offitt PA, Edwards KM, eds Plotkin's Vaccines 7th ed Philadelphia. 2018;7th ed. Philadelphia:943-9.2. Leader S, Kohlhase K. Respiratory syncytial virus-coded pediatric hospitalizations, 1997 to 1999. The Pediatric infectious disease journal. 2002;21(7):629-32.3. McLaurin KK, Farr AM, Wade SW, Diakun DR, Stewart DL. Respiratory syncytial virus hospitalization outcomes and costs of full-term and preterm infants. Journal of Perinatology: official journal of the California Perinatal Association. 2016;36(11):990-6.4. Rha B, et al. Respiratory Syncytial Virus-Associated Hospitalizations Among Young Children: 2015-2016. Pediatrics. 2020;146:e20193611.5. Arriola CS, et al. Estimated Burden of Community-Onset Respiratory Syncytial Virus-Associated Hospitalizations Among Children Aged.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.02.21/UK dividends calendar - next 7 days.txt b/news/AZN/2023.02.21/UK dividends calendar - next 7 days.txt new file mode 100644 index 0000000000000000000000000000000000000000..e69de29bb2d1d6434b8b29ae775ad8c2e48c5391 diff --git a/news/AZN/2023.02.22/AstraZeneca BTK inhibitor tablet approved in EU for leukaemia.txt b/news/AZN/2023.02.22/AstraZeneca BTK inhibitor tablet approved in EU for leukaemia.txt new file mode 100644 index 0000000000000000000000000000000000000000..2c0edbc03f611ebf68cacac5ee7b09e8ef2fe764 --- /dev/null +++ b/news/AZN/2023.02.22/AstraZeneca BTK inhibitor tablet approved in EU for leukaemia.txt @@ -0,0 +1,2 @@ +AstraZeneca's tablet formulation of Calquence (acalabrutinib) has been approved in the European Union (EU) for adults with chronic lymphocytic leukaemia (CLL). Calquence is a selective inhibitor of Bruton's tyrosine kinase (BTK). It binds covalently to BTK, inhibiting its activity. According to AstraZeneca, in B cells, BTK signalling results in activation of pathways necessary for B-cell proliferation, trafficking, chemotaxis and adhesion.The European Commission (EC)’s decision means the tablet can be taken with gastric acid-reducing agents, including proton pump inhibitor (PPI) antacids and H2-receptor antagonists (H2RAs). "Today's approval offers physicians and patients in the EU more flexibility to determine the right treatment plan and enables more patients to potentially benefit from this medicine," explained Dave Fredrickson, Executive Vice President of AstraZeneca’s Oncology Business Unit.Approval by the EC follows the positive opinion of the Committee for Medicinal Products for Human Use (CHMP) and is based on results from the ELEVATE-PLUS trials published in the journal Blood. ELEVATE-PLUS clinical trialsELEVATE-PLUS is comprised of three Phase I studies in 116 healthy subjects. The studies evaluated the PPI effect of acalabrutinib tablets administered in the presence versus absence of proton pump inhibitor (PPI) rabeprazole. An investigation into the effect of food by comparing acalabrutinib tablets administered with a high-fat diet versus fasted was also performed.The trial results showed the 100mg Calquence capsule and tablet formulations are bioequivalent, indicating the same efficacy and safety profile can be expected when prescribed with the same dosing strength and schedule.The majority of observed adverse events (AEs) in these studies were mild with no new safety concerns identified.Approval of AstraZeneca’s BTK inhibitor – capsule and tablet formulationThe BTK inhibitor is approved as a capsule formulation for CLL in the EU. It is also approved in the US as a capsule and tablet formulation for patients with CLL, small lymphocytic lymphoma (SLL) and relapsed or refractory mantle cell lymphoma (MCL). Additionally, Calquence is approved as a capsule formulation for CLL in Japan, Canada, Australia and other countries worldwide.Bruton's tyrosine kinase (BTK) inhibitor for chronic lymphocytic leukaemia (CLL): + MHRA authorises BRUKINSA® in Great Britain for two cancers… The post AstraZeneca BTK inhibitor tablet approved in EU for leukaemia appeared first on European Pharmaceutical Review.© Russell Publishing Limited, 2023. All Rights Reserved., source Trade Journals \ No newline at end of file diff --git a/news/AZN/2023.02.22/AstraZeneca wins three approvals in EU for cancer drugs.txt b/news/AZN/2023.02.22/AstraZeneca wins three approvals in EU for cancer drugs.txt new file mode 100644 index 0000000000000000000000000000000000000000..313b2dbc611c477697e908a5571e9c21bf9ff37b --- /dev/null +++ b/news/AZN/2023.02.22/AstraZeneca wins three approvals in EU for cancer drugs.txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC on Wednesday said its Imfinzi and Imjudo were approved in the European Union for the treatment of advanced liver and lung cancers. Its Calquence was also approved to treat chronic lymphocytic leukaemia. The Cambridge, England-based pharmaceutical firm said its Imfinzi and Imjudo immunotherapy combinations were approved by the European Commission based on positive results from the Himalaya Phase III trial. Astra said the approvals authorise Imfinzi, also known as durvalumab in combination with Imjudo, whose generic name is tremelimumab, for first-line treatment of adult patients with advanced hepatocellular carcinoma. Moreover, Imfinzi combined with Imjudo and platinum-based chemotherapy were authorised for the treatment of adult patients with metastatic non-small cell lung cancer.Dave Fredrickson, executive vice president of AstraZeneca's Oncology business unit said: "Lung cancer is one of the most prevalent and deadly cancers in Europe, and rates of liver cancer are rising steadily across the region. These approvals for Imfinzi and Imjudo bring critically needed, novel immunotherapy-based treatment regimens that will potentially deliver life-extending benefits for European patients with advanced liver and non-small cell lung cancers."Imfinzi is a human monoclonal antibody that binds to the PD-L1 protein and blocks the interaction of PD-L1 with the PD-1 and CD80 proteins, while Imjudo is a human monoclonal antibody that targets the activity of cytotoxic T-lymphocyte-associated protein.Separately, AstraZeneca said its tablet formulation of Acalabrutinib, sold under the brand name of Calquence, has been approved in the EU for the treatment of adult patients with chronic lymphocytic leukaemia.Chronic lymphocytic leukaemia is a rare type of cancer that affects the blood and bone marrow. The company said the approval was based on results from the Elevate-Plus trials, conducted in 116 healthy subjects.Fredrickson added: "The Calquence tablet formulation underscores our commitment to understanding the needs of the chronic lymphocytic leukaemia community and providing patient-oriented treatment solutions. Today’s approval offers physicians and patients in the EU more flexibility to determine the right treatment plan and enables more patients to potentially benefit from this medicine."Back in August, Calquence was approved in the US. Calquence is a selective inhibitor of Bruton’s tyrosine kinase. Calquence binds covalently to BTK, thereby inhibiting its activity. In B cells, BTK signalling results in activation of pathways necessary for B-cell proliferation, trafficking, chemotaxis and adhesion.Shares were down 0.7% at 11,492.00 pence each on Wednesday morning in London.By Xindi Wei, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.22/Calquence tablet formulation approved in the EU for patients with chronic lymphocytic l...txt b/news/AZN/2023.02.22/Calquence tablet formulation approved in the EU for patients with chronic lymphocytic l...txt new file mode 100644 index 0000000000000000000000000000000000000000..7897b2971a7e8835aa5ece7fb985119711289a7b --- /dev/null +++ b/news/AZN/2023.02.22/Calquence tablet formulation approved in the EU for patients with chronic lymphocytic l...txt @@ -0,0 +1 @@ +Tablet formulation can be co-administered with gastric acid-reducing agents allowing greater patient and physician choice Approval based on ELEVATE-PLUS trials which showed bioequivalence and consistent dosing vs. current capsuleAstraZeneca's tablet formulation of Calquence (acalabrutinib) has been approved in the European Union (EU) for the treatment of adult patients with chronic lymphocytic leukaemia (CLL).The approval by the European Commission follows the positive opinion of the Committee for Medicinal Products for Human Use and is based on results from the ELEVATE-PLUS trials published in the American Society of Haematology journal, Blood.1In the trials, results showed the Calquence capsule and tablet formulations are bioequivalent, indicating the same efficacy and safety profile can be expected when prescribed with the same dosing strength and schedule.1 The tablet can be taken with gastric acid-reducing agents, including proton pump inhibitors (PPIs), antacids and H2-receptor antagonists (H2RAs).1 The majority of observed adverse events (AEs) in these studies were mild with no new safety concerns identified.1Paolo Ghia, MD, Director, Strategic Research Program on CLL, Università Vita-Salute San Raffaele in Milan, said: "Many patients with chronic lymphocytic leukaemia face multiple medical conditions that require daily treatment, including the use of acid-reducing agents forconditions such as gastro-oesophageal reflux. The tablet formulation allows for co-administration with these drugs, allowing more patients with chronic lymphocytic leukaemia to assume Calquence."Dave Fredrickson, Executive Vice President, Oncology Business Unit, AstraZeneca, said: "The Calquence tablet formulation underscores our commitment to understanding the needs of the chronic lymphocytic leukaemia community and providing patient-oriented treatment solutions. Today's approval offers physicians and patients in the EU more flexibility to determine the right treatment plan and enables more patients to potentially benefit from this medicine."Calquence is approved as a capsule formulation for CLL in the EU. It is also approved in the US as a capsule and tablet formulation for patients with CLL, small lymphocytic lymphoma (SLL) and relapsed or refractory mantle cell lymphoma (MCL). Additionally, Calquence is approved as a capsule formulation in many other countries worldwide. Indications may vary by market.NotesCLLCLL is the most prevalent type of leukaemia in adults, with over 100,000 new cases globally in 2019.2 Although some people with CLL may not experience any symptoms at diagnosis, others may experience symptoms, such as weakness, fatigue, weight loss, chills, fever, night sweats, swollen lymph nodes and abdominal pain.3In CLL, there is an accumulation of abnormal lymphocytes within the bone marrow and in blood and lymph nodes. As the number of abnormal cells increases, there is less room within the marrow for the production of normal white blood cells, red blood cells and platelets. This could result in anaemia, infection and bleeding.4 B-cell receptor signalling through BTK is one of the essential growth pathways for CLL.ELEVATE-PLUSELEVATE-PLUS is comprised of three Phase I, open-label, single-dose, cross-over studies conducted in 116 healthy subjects. The trials established bioequivalence between acalabrutinib tablets (100mg) and acalabrutinib (100mg) capsules, evaluated the PPI effect of acalabrutinib tablets administered in the presence versus absence of PPI rabeprazole and investigated the effect of food by comparing acalabrutinib tablets administered with a high-fat diet versus fasted.1CalquenceCalquence (acalabrutinib) is a next-generation, selective inhibitor of Bruton's tyrosine kinase (BTK). Calquence binds covalently to BTK, thereby inhibiting its activity.5,6 In B cells, BTK signalling results in activation of pathways necessary for B-cell proliferation, trafficking, chemotaxis and adhesion.5Calquence is available for prescribing in capsule and tablet formulations in the US and EU for the treatment of CLL. Capsules have restrictions in relation to use with gastric acid reducing agents.Calquence capsules are approved for CLL in Japan, Canada, Australia and many other countries worldwide.In the US and several other countries, Calquence capsules are also approved for the treatment of adult patients with MCL who have received at least one prior therapy. The US MCL indication is approved under accelerated approval based on overall response rate. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials. Calquence is not currently approved for the treatment of MCL in Europe or Japan.As part of an extensive clinical development programme, AstraZeneca and Acerta Pharma are currently evaluating Calquence in more than 20 company-sponsored clinical trials. Calquence is being evaluated for the treatment of multiple B-cell blood cancers, including CLL, MCL, diffuse large B-cell lymphoma, Waldenström's macroglobulinaemia, follicular lymphoma and marginal zone lymphoma.AstraZeneca in haematologyAstraZeneca is pushing the boundaries of science to redefine care in haematology. We have expanded our commitment to patients with haematologic conditions, not only in oncology but also in rare diseases with the acquisition of Alexion, allowing us to reach more patients with high unmet needs. By applying our deep understanding of blood cancers, leveraging our strength in solid tumour oncology and delivering on Alexion's pioneering legacy in complement science to provide innovative medicines for rare diseases, we are pursuing the end-to-end development of novel therapies designed to target underlying drivers of disease.By targeting haematologic conditions with high unmet medical needs, we aim to deliver innovative medicines and approaches to improve patient outcomes. Our goal is to help transform the lives of patients living with malignant, rare and other related haematologic diseases, shaped by insights from patients, caregivers and physicians to have the most meaningful impact.AstraZeneca in OncologyAstraZeneca is leading a revolution in oncology with the ambition to provide cures for cancer in every form, following the science to understand cancer and all its complexities to discover, develop and deliver life-changing medicines to patients. The Company's focus is on some of the most challenging cancers. It is through persistent innovation that AstraZeneca has built one of the most diverse portfolios and pipelines in the industry, with the potential to catalyse changes in the practice of medicine and transform the patient experience.AstraZeneca has the vision to redefine cancer care and, one day, eliminate cancer as a cause of death.AstraZenecaAstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines in Oncology, Rare Diseases and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca.ContactsFor details on how to contact the Investor Relations Team, please click here. For media contacts, click here.References1. Sharma S, Pepin X, Burri H, et al. Bioequivalence and relative bioavailability studies to assess a new acalabrutinib formulation that enables coadministration with proton-pump inhibitors. Clin Pharmacol Drug Dev. 2022;11: 1294-1307.2. Yao Y, Lin X, Li F, et al. The global burden and attributable risk factors of chronic lymphocytic leukemia in 204 countries and territories from 1990 to 2019: analysis based on the global burden of disease study 2019. Biomed Eng Online. 2022;1: 4.3. American Cancer Society. Signs and Symptoms of Chronic Lymphocytic Leukemia. Accessed online. Accessed June 2022.4. National Cancer Institute. Chronic lymphocytic leukemia treatment (PDQ®)-Patient version. Accessed online. Accessed June 2022.5. Calquence® (acalabrutinib) [prescribing information]. Wilmington, DE; AstraZeneca Pharmaceuticals LP; 2019.6. Wu J, Zhang M, Liu D. Acalabrutinib (ACP-196): a selective second-generation BTK inhibitor. J Hematol Oncol. 2016;9(21)..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.02.22/Imfinzi plus Imjudo approved in the EU for patients with advanced liver and non-small c...txt b/news/AZN/2023.02.22/Imfinzi plus Imjudo approved in the EU for patients with advanced liver and non-small c...txt new file mode 100644 index 0000000000000000000000000000000000000000..df89f698a43aafe5b7a241632217b066fc85c6c6 --- /dev/null +++ b/news/AZN/2023.02.22/Imfinzi plus Imjudo approved in the EU for patients with advanced liver and non-small c...txt @@ -0,0 +1 @@ +Approvals based on significant survival benefits in HIMALAYA and POSEIDON Phase III trialsAstraZeneca's Imfinzi (durvalumab) and Imjudo (tremelimumab) immunotherapy combinations have been approved in the European Union (EU) for the treatment of advanced liver and lung cancers.The approvals authorise Imfinzi in combination with Imjudo for the 1st-line treatment of adult patients with advanced or unresectable hepatocellular carcinoma (HCC) and Imfinzi in combination with Imjudo and platinum-based chemotherapy for the treatment of adult patients with metastatic (Stage IV) non-small cell lung cancer (NSCLC).The two approvals by the European Commission follow positive recommendations by The Committee for Medicinal Products for Human Use of the European Medicines Agency in December 2022 and are based on positive results from the HIMALAYA Phase III trial, published in the New England Journal of Medicine Evidence and the POSEIDON Phase III trial, published in the Journal of Clinical Oncology.Bruno Sangro, MD, PhD, Director of the Liver Unit and Professor of Internal Medicine at Clínica Universidad de Navarra, and a lead investigator in the HIMALAYA Phase III trial, said: "This approval in Europe is welcome news for eligible patients with advanced liver cancer, who face a poor prognosis and are in need of well-tolerated treatments that can meaningfully extend overall survival. In HIMALAYA, an estimated 31% of patients treated with this novel combination of tremelimumab with durvalumab were alive at three years, while only 20% of patients treated with sorafenib were still alive at the same duration of follow-up."Solange Peters, MD, PhD, Head of the Medical Oncology Service and Chair of Thoracic Oncology at Hospitalier Universitaire Vaudois, Lausanne, Switzerland, and principal investigator in the POSEIDON Phase III trial, said: "Patients with metastatic non-small cell lung cancer continue to need new therapies that can meaningfully extend survival, including for many patients whose disease does not respond to current therapies. The approval of tremelimumab added to durvalumab and chemotherapy means that patients in Europe with this devastating cancer now have a valuable new treatment approach with demonstrated long-term survival benefits."Dave Fredrickson, Executive Vice President, Oncology Business Unit, AstraZeneca, said: "Lung cancer is one of the most prevalent and deadly cancers in Europe, and rates of liver cancer are rising steadily across the region. These approvals for Imfinzi and Imjudo bring critically needed, novel immunotherapy-based treatment regimens that will potentially deliver life-extending benefits for European patients with advanced liver and non-small cell lung cancers."Imjudo and Imfinzi approvedin liver cancerThe approval for the treatment of HCC is based on results from the HIMALAYA Phase III trial, where the Single Tremelimumab Regular Interval Durvalumab (STRIDE) regimen, comprised of a single dose of the anti-CTLA-4 antibody Imjudo (300mg) combined with anti-PD-L1 antibody Imfinzi (1500mg dose) followed by Imfinzi every four weeks significantly reduced the risk of death by 22% versus sorafenib (hazard ratio [HR] 0.78; 95% confidence interval [CI], 0.66-0.92; p=0.0035). Median overall survival (OS) was 16.4 months versus 13.8 for sorafenib. An estimated 31% of patients treated with the combination were still alive after three years with 20% of patients treated with sorafenib still alive at the same duration of follow-up.The safety profile of the combination of Imjudo added to Imfinzi were consistent with the known profiles of each medicine, and no new safety signals were identified.Liver cancer is the third-leading cause of cancer death and the sixth most commonly diagnosed cancer worldwide.1,2 Approximately 87,000 Europeans were diagnosed with liver cancer in 2020, with 51% of patients at an advanced cancer stage at time of diagnosis. Rates of liver cancer continue to rise rapidly, with a 70% increase of liver cancer-related mortality in Europe from 1990-2019.3Imfinzi and Imjudo approvedin NSCLCThe approval for the treatment of metastatic NSCLC is based on results from the POSEIDON Phase III trial, which showed a limited course of five cycles of the anti-CTLA-4 antibody Imjudo added to Imfinzi plus four cycles of platinum-based chemotherapy significantly reduced the risk of death by 23% versus a range of chemotherapy options (HR 0.77; 95% CI, 0.65-0.92; p=0.00304). Median OS was 14.0 months versus 11.7 months for chemotherapy. An estimated 33% of patients were alive at two years versus 22% for chemotherapy. This treatment combination also reduced the risk of disease progression or death by 28% compared to chemotherapy alone (HR 0.72; 95% CI, 0.60-0.86; p=0.00031) with a median progression-free survival (PFS) of 6.2 months versus 4.8 months, respectively.Updated results from the POSEIDON Phase III trial after approximately four years of follow-up presented at the European Society for Medical Oncology Congress 2022 demonstrated sustained survival benefit, reducing the risk of death by 25% compared to chemotherapy alone (HR 0.75; 95% CI, 0.63-0.88). Updated median OS was 14 months for the combination versus 11.7 months for chemotherapy alone. An estimated 25% of patients treated with the combination were alive at three years versus 13.6% for those treated with chemotherapy alone.The safety profile for Imjudo plus Imfinzi and chemotherapy was consistent with the known profiles of each medicine, and no new safety signals were identified.Metastatic lung cancer is the most advanced form of lung cancer.4,5 Approximately 40% of people with NSCLC have metastatic disease at the time of diagnosis.6 An estimated 5% of patients with metastatic NSCLC in Europe will survive five years after diagnosis.7-8For the POSEIDON indication in the EU, Imjudo will be temporarily marketed under the name Tremelimumab AstraZeneca until the second half of 2023.NotesLiver cancerAbout 75% of all primary liver cancers in adults are HCC.1 Between 80-90% of all patients with HCC also have cirrhosis.9 Chronic liver diseases are associated with inflammation that over time can lead to the development of HCC.9More than half of patients are diagnosed at advanced stages of the disease, often when symptoms first appear.10 A critical unmet need exists for patients with HCC who face limited treatment options.10 The unique immune environment of liver cancer provides clear rationale for investigating medications that harness the power of the immune system to treat HCC.10Stage IV NSCLCLung cancer is the leading cause of cancer-related death and is the second most common form of cancer globally, with more than two million patients diagnosed in 2020.11 Lung cancer is broadly split into NSCLC and small-cell lung cancer (SCLC), with 80-85% classified as NSCLC. Within NSCLC, patients are classified as squamous, representing 25-30% of patients, or non-squamous, in approximately 70-75% of patients.4, 12-13HIMALAYAHIMALAYA is a randomised, open-label, multicentre, global Phase III trial of Imfinzi monotherapy and a regimen comprising a single priming dose of Imjudo 300mg added to Imfinzi 1500mg followed by Imfinzi every four weeks versus sorafenib, a standard-of-care multi-kinase inhibitor.The trial included a total of 1,324 randomised patients with unresectable, advanced HCC who had not been treated with prior systemic therapy and were not eligible for locoregional therapy (treatment localised to the liver and surrounding tissue).The trial was conducted in 181 centres across 16 countries, including in the US, Canada, Europe, South America and Asia. The primary endpoint was OS for the combination versus sorafenib and key secondary endpoints included OS for Imfinzi versus sorafenib, objective response rate and PFS for the combination and for Imfinzi alone.POSEIDONPOSEIDON is a randomised, open-label, multi-centre, global, Phase III trial of Imfinzi plus platinum-based chemotherapy or Imfinzi, tremelimumab and chemotherapy versus chemotherapy alone in the 1st-line treatment of 1,013 patients with metastatic NSCLC. The trial population included patients with either non-squamous or squamous disease and the full range of PD-L1 expression levels. POSEIDON excluded patients with certain epidermal growth factor receptor (EGFR) mutations or anaplastic lymphoma kinase (ALK) fusions.In the experimental arms, patients were treated with a flat dose of either Imfinzi (1,500mg) or Imfinzi plus Imjudo (75mg) with up to four cycles of chemotherapy every three weeks before either Imfinzi maintenance once every four weeks or Imfinzi and a fifth dose of Imjudo given at week 16. In comparison, the control arm allowed up to six cycles of chemotherapy. Pemetrexed maintenance treatment was allowed in all arms in patients with non-squamous disease if given during the induction phase. Nearly all patients with non-squamous disease (95.5%) had pemetrexed and platinum, while the majority of patients with squamous disease receiving chemotherapy (88.3%) received gemcitabine and platinum.Primary endpoints included PFS and OS for the Imfinzi plus chemotherapy arm. Key secondary endpoints included PFS and OS in the Imfinzi plus Imjudo and chemotherapy arm. As PFS endpoints were met for both experimental arms, the prespecified statistical analysis plan allowed for testing OS in the Imfinzi plus Imjudo and chemotherapy arm. The OS trend observed in the Imfinzi plus chemotherapy arm did not achieve statistical significance. The trial was conducted in more than 150 centres across 18 countries, including the US, Europe, South America, Asia and South Africa.ImfinziImfinzi (durvalumab) is a human monoclonal antibody that binds to the PD-L1 protein and blocks the interaction of PD-L1 with the PD-1 and CD80 proteins, countering the tumour's immune-evading tactics and releasing the inhibition of immune responses.Imfinzi is the only approved immunotherapy in the curative-intent setting of unresectable, Stage III NSCLC in patients whose disease has not progressed after chemoradiotherapy and is the global standard of care in this setting based on the PACIFIC Phase III trial.Imfinzi is also approved in the US, EU, Japan, China and many other countries around the world for the treatment of extensive-stage SCLC based on the CASPIAN Phase III trial. In an exploratory analysis in 2021, updated results from the CASPIAN trial showed Imfinzi plus chemotherapy tripled patient survival at three years versus chemotherapy alone.Imfinzi is also approved in combination with Imjudo and chemotherapy in metastatic NSCLC in the US, EU and Japan;in combination with chemotherapy in locally advanced or metastatic biliary tract cancer (BTC) in the US, EU, Japan and several other countries; in combination with Imjudo in unresectable HCC in the US, EU and Japan; as monotherapy in unresectable HCC in Japan; and in previously treated patients with advanced bladder cancer in several countries.Since the first approval in May 2017, more than 100,000 patients have been treated with Imfinzi.As part of a broad development programme, Imfinzi is being tested as a single treatment and in combinations with other anti-cancer treatments for patients with SCLC, NSCLC, bladder cancer, several gastrointestinal (GI) cancers, ovarian cancer, endometrial cancer and other solid tumours.ImjudoImjudo (tremelimumab) is a human monoclonal antibody that targets the activity of cytotoxic T-lymphocyte-associated protein 4 (CTLA-4). Imjudo blocks the activity of CTLA-4, contributing to T-cell activation, priming the immune response to cancer and fostering cancer cell death.In addition to its approved indications in liver and lung cancers, Imjudo is being tested in combination with Imfinzi across multiple tumour types including locoregional HCC (EMERALD-3 trial), SCLC (ADRIATIC trial) and bladder cancer (VOLGA and NILE trials).AstraZeneca in GI cancersAstraZeneca has a broad development programme for the treatment of GI cancers across several medicines and a variety of tumour types and stages of disease. In 2020, GI cancers collectively represented approximately 5.1 million new cancer cases leading to approximately 3.6 million deaths.14Within this programme, the Company is committed to improving outcomes in gastric, liver, biliary tract, oesophageal, pancreatic, and colorectal cancers.In addition to its approved indications in biliary tract and liver cancers, Imfinzi is being assessed in combinations, including with Imjudo, in liver, oesophageal and gastric cancers in an extensive development programme spanning early to late-stage disease across settings.Enhertu (trastuzumab deruxtecan), a HER2-directed antibody drug conjugate, is approved in the US, EU and several other countries for HER2-positive advanced gastric cancer and is being assessed in colorectal cancer. Enhertu is jointly developed and commercialised by AstraZeneca and Daiichi Sankyo.Lynparza (olaparib), a first-in-class PARP inhibitor, is approved in the US, EU and several other countries for the treatment of BRCA-mutated metastatic pancreatic cancer. Lynparza is developed and commercialised in collaboration with MSD (Merck & Co., Inc. inside the US and Canada).AstraZeneca in lung cancerAstraZeneca is working to bring patients with lung cancer closer to cure through the detection and treatment of early-stage disease, while also pushing the boundaries of science to improve outcomes in the resistant and advanced settings. By defining new therapeutic targets and investigating innovative approaches, the Company aims to match medicines to the patients who can benefit most.The Company's comprehensive portfolio includes leading lung cancer medicines and the next wave of innovations, including Tagrisso (osimertinib) and Iressa (gefitinib); Imfinzi (durvalumab) and Imjudo (tremelimumab); Enhertu (trastuzumab deruxtecan) and datopotamab deruxtecan in collaboration with Daiichi Sankyo; Orpathys (savolitinib) in collaboration with HUTCHMED; as well as a pipeline of potential new medicines and combinations across diverse mechanisms of action.AstraZeneca is a founding member of the Lung Ambition Alliance, a global coalition working to accelerate innovation and deliver meaningful improvements for people with lung cancer, including and beyond treatment.AstraZeneca in immuno-oncology (IO)AstraZeneca is a pioneer in introducing the concept of immunotherapy into dedicated clinical areas of high unmet medical need. The Company has a comprehensive and diverse IO portfolio and pipeline anchored in immunotherapies designed to overcome evasion of the anti-tumour immune response and stimulate the body's immune system to attack tumours.AstraZeneca aims to reimagine cancer care and help transform outcomes for patients with Imfinzi as a single treatment and in combination with Imjudo as well as other novel immunotherapies and modalities. The Company is also exploring next-generation immunotherapies like bispecific antibodies and therapeutics that harness different aspects of immunity to target cancer.AstraZeneca is boldly pursuing an innovative clinical strategy to bring IO-based therapies that deliver long-term survival to new settings across a wide range of cancer types. With an extensive clinical programme, the Company also champions the use of IO treatment in earlier disease stages, where there is the greatest potential for cure.AstraZeneca in oncologyAstraZeneca is leading a revolution in oncology with the ambition to provide cures for cancer in every form, following the science to understand cancer and all its complexities to discover, develop and deliver life-changing medicines to patients.The Company's focus is on some of the most challenging cancers. It is through persistent innovation that AstraZeneca has built one of the most diverse portfolios and pipelines in the industry, with the potential to catalyse changes in the practice of medicine and transform the patient experience.AstraZeneca has the vision to redefine cancer care and, one day, eliminate cancer as a cause of death.AstraZenecaAstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.02.22/UK dividends calendar - next 7 days.txt b/news/AZN/2023.02.22/UK dividends calendar - next 7 days.txt new file mode 100644 index 0000000000000000000000000000000000000000..e69de29bb2d1d6434b8b29ae775ad8c2e48c5391 diff --git a/news/AZN/2023.02.23/AstraZeneca - Imfinzi plus Imjudo approved in the EU for patients with advanced liver a...txt b/news/AZN/2023.02.23/AstraZeneca - Imfinzi plus Imjudo approved in the EU for patients with advanced liver a...txt new file mode 100644 index 0000000000000000000000000000000000000000..179474a4e147247ae99161550331a7981a92fb34 --- /dev/null +++ b/news/AZN/2023.02.23/AstraZeneca - Imfinzi plus Imjudo approved in the EU for patients with advanced liver a...txt @@ -0,0 +1 @@ +AstraZeneca's Imfinzi (durvalumab) and Imjudo (tremelimumab) immunotherapy combinations have been approved in the European Union (EU) for the treatment of advanced liver and lung cancers.The approvals authorise Imfinzi in combination with Imjudo for the 1st-line treatment of adult patients with advanced or unresectable hepatocellular carcinoma (HCC) and Imfinzi in combination with Imjudo and platinum-based chemotherapy for the treatment of adult patients with metastatic (Stage IV) non-small cell lung cancer (NSCLC).The two approvals by the European Commission follow positive recommendations by The Committee for Medicinal Products for Human Use of the European Medicines Agency in December 2022 and are based on positive results from the HIMALAYA Phase III trial, published in the New England Journal of Medicine Evidence and the POSEIDON Phase III trial, published in the Journal of Clinical Oncology.Bruno Sangro, MD, PhD, Director of the Liver Unit and Professor of Internal Medicine at Clinica Universidad de Navarra, and a lead investigator in the HIMALAYA Phase III trial, said: 'This approval in Europe is welcome news for eligible patients with advanced liver cancer, who face a poor prognosis and are in need of well-tolerated treatments that can meaningfully extend overall survival. In HIMALAYA, an estimated 31% of patients treated with this novel combination of tremelimumab with durvalumab were alive at three years, while only 20% of patients treated with sorafenib were still alive at the same duration of follow-up.'Solange Peters, MD, PhD, Head of the Medical Oncology Service and Chair of Thoracic Oncology at Hospitalier Universitaire Vaudois, Lausanne, Switzerland, and principal investigator in the POSEIDON Phase III trial, said: 'Patients with metastatic non-small cell lung cancer continue to need new therapies that can meaningfully extend survival, including for many patients whose disease does not respond to current therapies. The approval of tremelimumab added to durvalumab and chemotherapy means that patients in Europe with this devastating cancer now have a valuable new treatment approach with demonstrated long-term survival benefits.'Dave Fredrickson, Executive Vice President, Oncology Business Unit, AstraZeneca, said: 'Lung cancer is one of the most prevalent and deadly cancers in Europe, and rates of liver cancer are rising steadily across the region. These approvals for Imfinzi and Imjudo bring critically needed, novel immunotherapy-based treatment regimens that will potentially deliver life-extending benefits for European patients with advanced liver and non-small cell lung cancers.'Imjudo and Imfinzi approved in liver cancerThe approval for the treatment of HCC is based on results from the HIMALAYA Phase III trial, where the Single Tremelimumab Regular Interval Durvalumab (STRIDE) regimen, comprised of a single dose of the anti-CTLA-4 antibody Imjudo (300mg) combined with anti-PD-L1 antibody Imfinzi (1500mg dose) followed by Imfinzi every four weeks significantly reduced the risk of death by 22% versus sorafenib (hazard ratio [HR] 0.78; 95% confidence interval [CI], 0.66-0.92; p=0.0035). Median overall survival (OS) was 16.4 months versus 13.8 for sorafenib. An estimated 31% of patients treated with the combination were still alive after three years with 20% of patients treated with sorafenib still alive at the same duration of follow-up.The safety profile of the combination of Imjudo added to Imfinzi were consistent with the known profiles of each medicine, and no new safety signals were identified.Liver cancer is the third-leading cause of cancer death and the sixth most commonly diagnosed cancer worldwide.1,2 Approximately 87,000 Europeans were diagnosed with liver cancer in 2020, with 51% of patients at an advanced cancer stage at time of diagnosis. Rates of liver cancer continue to rise rapidly, with a 70% increase of liver cancer-related mortality in Europe from 1990-2019.3Imfinzi and Imjudo approved in NSCLCThe approval for the treatment of metastatic NSCLC is based on results from the POSEIDON Phase III trial, which showed a limited course of five cycles of the anti-CTLA-4 antibody Imjudo added to Imfinzi plus four cycles of platinum-based chemotherapy significantly reduced the risk of death by 23% versus a range of chemotherapy options (HR 0.77; 95% CI, 0.65-0.92; p=0.00304). Median OS was 14.0 months versus 11.7 months for chemotherapy. An estimated 33% of patients were alive at two years versus 22% for chemotherapy. This treatment combination also reduced the risk of disease progression or death by 28% compared to chemotherapy alone (HR 0.72; 95% CI, 0.60-0.86; p=0.00031) with a median progression-free survival (PFS) of 6.2 months versus 4.8 months, respectively.Updated results from the POSEIDON Phase III trial after approximately four years of follow-up presented at the European Society for Medical Oncology Congress 2022 demonstrated sustained survival benefit, reducing the risk of death by 25% compared to chemotherapy alone (HR 0.75; 95% CI, 0.63-0.88). Updated median OS was 14 months for the combination versus 11.7 months for chemotherapy alone. An estimated 25% of patients treated with the combination were alive at three years versus 13.6% for those treated with chemotherapy alone.The safety profile for Imjudo plus Imfinzi and chemotherapy was consistent with the known profiles of each medicine, and no new safety signals were identified.Metastatic lung cancer is the most advanced form of lung cancer.4,5 Approximately 40% of people with NSCLC have metastatic disease at the time of diagnosis.6 An estimated 5% of patients with metastatic NSCLC in Europe will survive five years after diagnosis.7-8Liver cancerAbout 75% of all primary liver cancers in adults are HCC.1 Between 80-90% of all patients with HCC also have cirrhosis.9 Chronic liver diseases are associated with inflammation that over time can lead to the development of HCC.9More than half of patients are diagnosed at advanced stages of the disease, often when symptoms first appear.10 A critical unmet need exists for patients with HCC who face limited treatment options.10 The unique immune environment of liver cancer provides clear rationale for investigating medications that harness the power of the immune system to treat HCC.10Stage IV NSCLCLung cancer is the leading cause of cancer-related death and is the second most common form of cancer globally, with more than two million patients diagnosed in 2020.11 Lung cancer is broadly split into NSCLC and small-cell lung cancer (SCLC), with 80-85% classified as NSCLC. Within NSCLC, patients are classified as squamous, representing 25-30% of patients, or non-squamous, in approximately 70-75% of patients.4, 12-13HIMALAYAHIMALAYA is a randomised, open-label, multicentre, global Phase III trial of Imfinzi monotherapy and a regimen comprising a single priming dose of Imjudo 300mg added to Imfinzi 1500mg followed by Imfinzi every four weeks versus sorafenib, a standard-of-care multi-kinase inhibitor.The trial included a total of 1,324 randomised patients with unresectable, advanced HCC who had not been treated with prior systemic therapy and were not eligible for locoregional therapy (treatment localised to the liver and surrounding tissue).The trial was conducted in 181 centres across 16 countries, including in the US, Canada, Europe, South America and Asia. The primary endpoint was OS for the combination versus sorafenib and key secondary endpoints included OS for Imfinzi versus sorafenib, objective response rate and PFS for the combination and for Imfinzi alone.POSEIDONPOSEIDON is a randomised, open-label, multi-centre, global, Phase III trial of Imfinzi plus platinum-based chemotherapy or Imfinzi, tremelimumab and chemotherapy versus chemotherapy alone in the 1st-line treatment of 1,013 patients with metastatic NSCLC. The trial population included patients with either non-squamous or squamous disease and the full range of PD-L1 expression levels. POSEIDON excluded patients with certain epidermal growth factor receptor (EGFR) mutations or anaplastic lymphoma kinase (ALK) fusions.In the experimental arms, patients were treated with a flat dose of either Imfinzi (1,500mg) or Imfinzi plus Imjudo (75mg) with up to four cycles of chemotherapy every three weeks before either Imfinzi maintenance once every four weeks or Imfinzi and a fifth dose of Imjudo given at week 16. In comparison, the control arm allowed up to six cycles of chemotherapy. Pemetrexed maintenance treatment was allowed in all arms in patients with non-squamous disease if given during the induction phase. Nearly all patients with non-squamous disease (95.5%) had pemetrexed and platinum, while the majority of patients with squamous disease receiving chemotherapy (88.3%) received gemcitabine and platinum.Primary endpoints included PFS and OS for the Imfinzi plus chemotherapy arm. Key secondary endpoints included PFS and OS in the Imfinzi plus Imjudo and chemotherapy arm. As PFS endpoints were met for both experimental arms, the prespecified statistical analysis plan allowed for testing OS in the Imfinzi plus Imjudo and chemotherapy arm. The OS trend observed in the Imfinzi plus chemotherapy arm did not achieve statistical significance. The trial was conducted in more than 150 centres across 18 countries, including the US, Europe, South America, Asia and South Africa.ImfinziImfinzi (durvalumab) is a human monoclonal antibody that binds to the PD-L1 protein and blocks the interaction of PD-L1 with the PD-1 and CD80 proteins, countering the tumour's immune-evading tactics and releasing the inhibition of immune responses.Imfinzi is the only approved immunotherapy in the curative-intent setting of unresectable, Stage III NSCLC in patients whose disease has not progressed after chemoradiotherapy and is the global standard of care in this setting based on the PACIFIC Phase III trial.Imfinzi is also approved in the US, EU, Japan, China and many other countries around the world for the treatment of extensive-stage SCLC based on the CASPIAN Phase III trial. In an exploratory analysis in 2021, updated results from the CASPIAN trial showed Imfinzi plus chemotherapy tripled patient survival at three years versus chemotherapy alone.Imfinzi is also approved in combination with Imjudo and chemotherapy in metastatic NSCLC in the US, EU and Japan; in combination with chemotherapy in locally advanced or metastatic biliary tract cancer (BTC) in the US, EU, Japan and several other countries; in combination with Imjudo in unresectable HCC in the US, EU and Japan; as monotherapy in unresectable HCC in Japan and in previously treated patients with advanced bladder cancer in several countries.Since the first approval in May 2017, more than 100,000 patients have been treated with Imfinzi.As part of a broad development programme, Imfinzi is being tested as a single treatment and in combinations with other anti-cancer treatments for patients with SCLC, NSCLC, bladder cancer, several gastrointestinal (GI) cancers, ovarian cancer, endometrial cancer and other solid tumours.ImjudoImjudo (tremelimumab) is a human monoclonal antibody that targets the activity of cytotoxic T-lymphocyte-associated protein 4 (CTLA-4). Imjudo blocks the activity of CTLA-4, contributing to T-cell activation, priming the immune response to cancer and fostering cancer cell death.In addition to its approved indications in liver and lung cancers, Imjudo is being tested in combination with Imfinzi across multiple tumour types including locoregional HCC (EMERALD-3 trial), SCLC (ADRIATIC trial) and bladder cancer (VOLGA and NILE trials).AstraZeneca in GI cancersAstraZeneca has a broad development programme for the treatment of GI cancers across several medicines and a variety of tumour types and stages of disease. In 2020, GI cancers collectively represented approximately 5.1 million new cancer cases leading to approximately 3.6 million deaths.14Within this programme, the Company is committed to improving outcomes in gastric, liver, biliary tract, oesophageal, pancreatic, and colorectal cancers.In addition to its approved indications in biliary tract and liver cancers, Imfinzi is being assessed in combinations, including with Imjudo, in liver, oesophageal and gastric cancers in an extensive development programme spanning early to late-stage disease across settings.Enhertu (trastuzumab deruxtecan), a HER2-directed antibody drug conjugate, is approved in the US, EU and several other countries for HER2-positive advanced gastric cancer and is being assessed in colorectal cancer. Enhertu is jointly developed and commercialised by AstraZeneca and Daiichi Sankyo.Lynparza (olaparib), a first-in-class PARP inhibitor, is approved in the US, EU and several other countries for the treatment of BRCA-mutated metastatic pancreatic cancer. Lynparza is developed and commercialised in collaboration with MSD (Merck & Co., Inc. inside the US and Canada).AstraZeneca in lung cancerAstraZeneca is working to bring patients with lung cancer closer to cure through the detection and treatment of early-stage disease, while also pushing the boundaries of science to improve outcomes in the resistant and advanced settings. By defining new therapeutic targets and investigating innovative approaches, the Company aims to match medicines to the patients who can benefit most.AstraZeneca in immuno-oncology (IO)AstraZeneca is a pioneer in introducing the concept of immunotherapy into dedicated clinical areas of high unmet medical need. The Company has a comprehensive and diverse IO portfolio and pipeline anchored in immunotherapies designed to overcome evasion of the anti-tumour immune response and stimulate the body's immune system to attack tumours.AstraZeneca aims to reimagine cancer care and help transform outcomes for patients with Imfinzi as a single treatment and in combination with Imjudo as well as other novel immunotherapies and modalities. The Company is also exploring next-generation immunotherapies like bispecific antibodies and therapeutics that harness different aspects of immunity to target cancer.AstraZeneca is boldly pursuing an innovative clinical strategy to bring IO-based therapies that deliver long-term survival to new settings across a wide range of cancer types. With an extensive clinical programme, the Company also champions the use of IO treatment in earlier disease stages, where there is the greatest potential for cure.AstraZeneca in oncologyAstraZeneca is leading a revolution in oncology with the ambition to provide cures for cancer in every form, following the science to understand cancer and all its complexities to discover, develop and deliver life-changing medicines to patients.The Company's focus is on some of the most challenging cancers. It is through persistent innovation that AstraZeneca has built one of the most diverse portfolios and pipelines in the industry, with the potential to catalyse changes in the practice of medicine and transform the patient experience.AstraZenecaAstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide.Contact:Tel: +1 301 398 3251(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AZN/2023.02.23/AstraZeneca enters license agreement with KYM Biosciences for CMG901, a Claudin-18.2 an...txt b/news/AZN/2023.02.23/AstraZeneca enters license agreement with KYM Biosciences for CMG901, a Claudin-18.2 an...txt new file mode 100644 index 0000000000000000000000000000000000000000..6030f2b3931b595ec0fc4eb6a9ddda3582e11d53 --- /dev/null +++ b/news/AZN/2023.02.23/AstraZeneca enters license agreement with KYM Biosciences for CMG901, a Claudin-18.2 an...txt @@ -0,0 +1 @@ +CMG901 expands AstraZeneca's commitment in gastric cancerAstraZeneca and KYM Biosciences Inc.i have entered into a global exclusive licence agreement for CMG901, a potential first-in-class antibody drug conjugate (ADC) targeting Claudin 18.2, a promising therapeutic target in gastric cancer. Under the licence agreement, AstraZeneca will be responsible for the research, development, manufacture and commercialisation of CMG901 globally.CMG901 is currently being evaluated in a Phase I clinical trial for the treatment of Claudin 18.2-positive solid tumours, including gastric cancer. Preliminary results from the Phase I trial have shown an encouraging clinical profile for CMG901, with early signs of anti-tumour activity across the dose levels tested.Puja Sapra, Senior Vice President, Biologics Engineering & Oncology Targeted Delivery, Oncology R&D, AstraZeneca, said, "We are excited by the opportunity to accelerate the development of CMG901, a potential new medicine for patients with Claudin18.2-expressing cancers. CMG901 strengthens our growing pipeline of antibody drug conjugates and supports our ambition to expand treatment options and transform outcomes for patients with gastrointestinal cancers."Dr Bo Chen, Chief Executive Officer of Keymed and Board Chairman of KYM Biosciences, said, "We are pleased to announce our agreement with AstraZeneca, a global biopharmaceutical company with leadership in developing and commercializing novel anti-cancer therapies. This is not only a recognition of CMG901, a potential first-in-class Claudin 18.2 ADC, but also Keymed's internal discovery and development capabilities. The global scope of this agreement has the potential to benefit patients in China, and throughout the world."Financial considerationsAstraZeneca will make an upfront payment of $63m on transaction closing and additional development and sales-related milestone payments of up to $1.1bn to KYM Biosciences as well as tiered royalties up to low double digits.The transaction is expected to close in the first half of 2023, subject to customary closing conditions and regulatory clearances. The transaction does not impact AstraZeneca's financial guidance for 2023.i. KYM Biosciences is a joint venture established by affiliates of Keymed Biosciences and Lepu Biopharma.NotesCMG901CMG901 is a novel antibody drug conjugate targeting Claudin 18.2, and consists of an anti-Claudin 18.2 monoclonal antibody, a protease-degradable linker, and a cytotoxic small molecule monomethyl auristatin E (MMAE). CMG901 is being developed for the treatment of solid tumours that express the cell surface protein Claudin 18.2, including gastric cancers. CMG901 is owned by KYM Biosciences Inc. (KYM), a joint venture established by affiliates of Keymed Biosciences (70% of KYM ownership) and Lepu Biopharma (30% of KYM ownership).AstraZeneca in gastrointestinal cancersAstraZeneca has a broad development programme for the treatment of gastrointestinal (GI) cancers across several medicines and a variety of tumour types and stages of disease. In 2020, GI cancers collectively represented approximately 5.1 million new cancer cases leading to approximately 3.6 million deaths.1Within this programme, the Company is committed to improving outcomes in gastric, liver, biliary tract, oesophageal, pancreatic and colorectal cancers.Imfinzi (durvalumab) is approved in the US in combination with chemotherapy (gemcitabine plus cisplatin) for advanced biliary tract cancer and in combination with Imjudo in unresectable hepatocellular carcinoma. Imfinzi is being assessed in combinations, including with Imjudo in liver, oesophageal and gastric cancers in an extensive development programme spanning early to late-stage disease across settings.Enhertu (trastuzumab deruxtecan), a HER2-directed antibody drug conjugate, is approved in HER2-positive advanced gastric cancer and is being assessed in colorectal cancer. Enhertu is jointly developed and commercialised by AstraZeneca and Daiichi Sankyo.Lynparza (olaparib), a first-in-class PARP inhibitor, is approved in BRCA-mutated metastatic pancreatic cancer. Lynparza is developed and commercialised in collaboration with MSD (Merck & Co., Inc. inside the US and Canada).AstraZeneca in oncologyAstraZeneca is leading a revolution in oncology with the ambition to provide cures for cancer in every form, following the science to understand cancer and all its complexities to discover, develop and deliver life-changing medicines to patients.The Company's focus is on some of the most challenging cancers. It is through persistent innovation that AstraZeneca has built one of the most diverse portfolios and pipelines in the industry, with the potential to catalyse changes in the practice of medicine and transform the patient experience.AstraZeneca has the vision to redefine cancer care and, one day, eliminate cancer as a cause of death.AstraZenecaAstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca.ReferencesAdrian KempCompany SecretaryAstraZeneca PLC.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.02.23/AstraZeneca signs USD63 million agreement to address gastric cancer.txt b/news/AZN/2023.02.23/AstraZeneca signs USD63 million agreement to address gastric cancer.txt new file mode 100644 index 0000000000000000000000000000000000000000..2fd0db64210ceecfd9edbbd07f1d9d8cbdb52126 --- /dev/null +++ b/news/AZN/2023.02.23/AstraZeneca signs USD63 million agreement to address gastric cancer.txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC on Thursday said it has signed an exclusive licence agreement alongside KYM Biosciences Inc for CMG901, an antibody drug conjugate looking to address gastric cancer.Under the licence agreement, the Cambridge, England-based pharmaceutical firm will be responsible for the research, development, manufacture and commercialisation of CMG901 globally.AstraZeneca will make an upfront payment of USD63 million on transaction closing, and expects additional development and sales-related milestone payments of up to USD1.1 billion to KYM Biosciences, as well as tiered royalties up to low double digits.The transaction is expected to close in the first half of 2023, subject to customary closing conditions and regulatory clearances. The transaction does not impact AstraZeneca's financial guidance for 2023.CMG901 is currently being evaluated in a phase one clinical trial for the treatment of Claudin 18.2 positive solid tumours, including gastric cancer. Preliminary results from the trial have shown an encouraging clinical profile for CMG901, Astra told investors, with early signs of anti-tumour activity across the dose levels tested."We are excited by the opportunity to accelerate the development of CMG901, a potential new medicine for patients with Claudin18.2-expressing cancers. CMG901 strengthens our growing pipeline of antibody drug conjugates and supports our ambition to expand treatment options and transform outcomes for patients with gastrointestinal cancers," said Puja Sapra, senior vice president of Biologics Engineering & Oncology Targeted Delivery at Astra.AstraZeneca shares were trading 1.8% lower at 11,290.00 pence each in London on Thursday morning.By Holly Beveridge; Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.23/FTSE 100 drops despite good corporate results.txt b/news/AZN/2023.02.23/FTSE 100 drops despite good corporate results.txt new file mode 100644 index 0000000000000000000000000000000000000000..73173471326dd81d5f775c2a37d2f5025e4f5b0a --- /dev/null +++ b/news/AZN/2023.02.23/FTSE 100 drops despite good corporate results.txt @@ -0,0 +1,10 @@ + +London shares were down again this morning, partly because several big names, including Barclays and AstraZeneca, traded ex-dividend. +On the plus side, there’ve been some strong corporate results in the past few hours. Nvidia posted better-than-expected revenues and earnings, sending its shares up 9%. +Rolls-Royce jumped 15.1% after it forecast more profit growth in 2023 after 2022 earnings topped expectations. +However, Anglo American fell 2% after cutting its total payout to shareholders by 60%. +  +Things to read today: +The Economic War Against Putin Has Only Just Begun (Bloomberg) +US Stocks fluctuate as investors assess rate rise talk in Fed Minutes (Financial Times) +US Considers Release of Intelligence on China’s Potential Arms Transfer to Russia (WSJ) diff --git a/news/AZN/2023.02.23/FTSE 100 falls as ex-dividend trades weigh; Rolls-Royce soars.txt b/news/AZN/2023.02.23/FTSE 100 falls as ex-dividend trades weigh; Rolls-Royce soars.txt new file mode 100644 index 0000000000000000000000000000000000000000..e9d3ea0648ab16f7b6788083fd50fb6a08ef02a5 --- /dev/null +++ b/news/AZN/2023.02.23/FTSE 100 falls as ex-dividend trades weigh; Rolls-Royce soars.txt @@ -0,0 +1 @@ +Some banks, including Barclays and Standard Chartered, and healthcare majors AstraZeneca and GSK traded without an entitlement for dividend payout.The blue-chip FTSE 100 was down 0.2% at 0823 GMT, and was set for its third straight day of declines. Engineering firm Rolls-Royce surged 15.1% after the company's CEO forecast more profit growth in 2023 after last year's profit beat expectations. The domestically-inclined FTSE 250 midcap index rose 0.5%, with John Wood Group Plc jumping 32.3% to the top of the index. The oilfield services and engineering firm said it received and rejected takeover proposals from Apollo Global Management. (Reporting by Shashwat Chauhan in Bengaluru; editing by Uttaresh.V) \ No newline at end of file diff --git a/news/AZN/2023.02.23/FTSE 100 struggles, but European peers rise.txt b/news/AZN/2023.02.23/FTSE 100 struggles, but European peers rise.txt new file mode 100644 index 0000000000000000000000000000000000000000..711f41b7b5c6586c465964476b13fb117ac4ceab --- /dev/null +++ b/news/AZN/2023.02.23/FTSE 100 struggles, but European peers rise.txt @@ -0,0 +1 @@ +(Alliance News) - Stock prices in London closed mixed on Thursday, with blue-chips ending in the red on renewed concerns of higher rates in the US, as well as a host of stocks going ex-dividend. The FTSE 100 index closed down 22.91 points, 0.3%, at 7,907.72. However, the FTSE 250 ended up 110.20 points, 0.6%, at 19,790.49, and the AIM All-Share closed up 0.4%, or 3.23 points, at 855.51.The Cboe UK 100 ended down 0.1% at 792.22, the Cboe UK 250 closed up 0.6% at 17,274.38, and the Cboe Small Companies ended up 0.4% at 13,987.18.London's blue-chip index struggled after minutes from the most recent Federal Open Market Committee meeting revealed that US central bank officials anticipate further increases in interest rates will be needed to ensure their inflation target is met. That is despite signs pricing pressures are easing.Stocks in New York initially shrugged aside the renewed rate concerns and pushed higher, but fell back to trade in negative territory at the time of the London equities close. The Dow Jones Industrial Average was down 0.3%, the S&P 500 index down 0.2%, and the Nasdaq Composite down 0.3%.In European equities on Thursday, the mood was brighter. The CAC 40 in Paris ended up 0.3%, while the DAX 40 in Frankfurt closed up 0.5%.Putting pressure on the FTSE 100 were share price falls for pharmaceutical firms GSK and AstraZeneca. The duo fell 1.6% and 2.5% after going ex-dividend, meaning new buyers would not qualify for their latest payout. In London, Rolls-Royce topped the list of FTSE 100 risers, soaring 24%, after better-than-expected full-year results. New Chief Executive Tufan Erginbilgic unveiled a seven-pronged transformation plan to further improve performance and reduce debt.Broker Shore Capital said the results, "show good progress towards improved profitability with Civil Aerospace performing better than expected".Susannah Streeter, head of money and markets, Hargreaves Lansdown said, "investors have cheered the turnaround and welcomed the strategic plan". Streeter said: "[The] restructuring plan announced is likely to see changes made to the global footprint, some divisions scaled back, and investment re-routed into other operations.""The company will be helped in the meantime by the re-opening in China, with its core business of manufacturing and maintaining jet engines set to be boosted by renewed popularity of longer haul routes."WPP climbed 3.4%. The London-based advertising and communications company said revenue in 2022 rose 13% to GBP14.43 billion from GBP12.80 billion in 2021. Pretax profit jumped 22% to GBP1.16 billion from GBP951 million.Shares in John Wood Group soared 29% after it said after the market close Wednesday that it had rebuffed bid approaches from Apollo Global Management.The FTSE 250 company said that it had turned down all unsolicited proposals from the US firm, with the most recent approach in late January valuing it at GBP1.59 billion. The cash offer for all of its shares was worth 230 pence each.The company said: "The board carefully considered each of the proposals, together with its financial advisers, and has engaged on a limited basis with Apollo. The board unanimously rejected each of the proposals, having concluded that they each significantly undervalued the repositioned group’s prospects." Mondi shares fell 4.8% despite strong 2022 results. The paper and packaging firm reported a pretax profit of EUR1.56 billion in 2022, up from EUR712 million in 2021. Revenue jumped 28% to EUR8.90 billion from EUR6.97 billion.But the FTSE 100 listed firm warned it continues to see softer demand and pricing, however, despite declining input costs.Shares in SigmaRoc leapt 7.2% after the quarried materials group successfully raised GBP30 million through a placing of shares at 54 pence each.The AIM-listed company's management team actively participated in the structuring and allocation of the fundraising.Proceeds from the placing will part fund 10 potential near-term strategic acquisition opportunities and four organic growth and carbon footprint reduction projects.Taken together, the acquisitions and organic investment projects are anticipated, should they all complete, to generate approximately GBP42 million of net revenue. The pound was quoted at USD1.2023 at the London equities close Thursday, down compared to USD1.2066 at the equities close on Wednesday.The euro stood at USD1.0593 at the European equities close Thursday, down against USD1.0629 at the same time on Wednesday. Against the yen, the dollar was trading at JPY134.72, up compared to JPY134.67 late Wednesday. Capital Economics expects the dollar to strengthen further. "While US economic resilience may keep the green back strong in the near term, we still think that recessions in most advanced economies and souring appetite for risk will ultimately be the factor that pushes the dollar back towards its cyclical high later this year," CE analysts said. Brent was quoted at USD81.71 a barrel at the London equities close Thursday, up from USD81.24 Wednesday. Gold was quoted at USD1,821.05 an ounce, down against USD1,825.00.Friday's economic calendar has a Japanese inflation reading overnight, before US core personal consumption expenditures data at 1330 GMT. The local corporate calendar has annual results from British Airways parent International Consolidated Airlines Group and half-year numbers from veterinary services provider CVS Group. By Jeremy Cutler, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.23/Global markets live: BAE Systems, Ebay, Nvidia, Lucid Group, Bumble....txt b/news/AZN/2023.02.23/Global markets live: BAE Systems, Ebay, Nvidia, Lucid Group, Bumble....txt new file mode 100644 index 0000000000000000000000000000000000000000..76ba265fc1874e6a101576f4231dc44f8c117480 --- /dev/null +++ b/news/AZN/2023.02.23/Global markets live: BAE Systems, Ebay, Nvidia, Lucid Group, Bumble....txt @@ -0,0 +1,35 @@ + +  +  +Corporate results: + +BAE Systems: The British company posted a 9.5% increase in annual profits and expects further growth this year. +Ebay warned to expect a decline in demand in the current six months after a drop in profit in the last three months of 2022 amid pressure on consumer spending in the U.S. and Europe. +Eni: sees its net profit doubling to €13.8 billion in 2022. +Genmab: The Danish company expects its sales to rise and its operating profit to fall in 2023. +NVidia issued a revenue forecast for the current quarter on Wednesday that beat Wall Street expectations. +Pirelli: strong growth in 2022 results. The market will be less dynamic this year. +Rolls-Royce topped forecasts with a 57% increase in profit. +NetApp reported adjusted fourth-quarter earnings per share below Wall Street expectations. +Telefonica: 2022 net profit exceeds market expectations at €2bn. +WPP: expects growth of 3 to 5% in 2023. +Lucid Group posted quarterly revenue below the Refinitiv consensus. +Bumble expects revenue growth this year of 16 percent to 19 percent, a rate higher than the market expected. + +  +In other news: + +Firmenich and Royal DSM get the green light from the EU for their merger. +Third Point wants to make its voice heard at the general meeting at Bed Bath & Beyond. +The supervisory board of SAP nominates Punit Renjen as chairman to replace Hasso Plattner. +John Wood rejects Apollo's takeover offer for 1.6 bn GBP. +Sika agrees to sell some of MBCC's assets to resolve competition issues in Canada. +Orsted offers €2bn of green bonds to finance renewable energy expansion. +Eni reaches agreement on biofuels for Saipem's naval fleet. +Roche commercializes two antibodies to diagnose brain cancer. +Deutsche Bank plans to strengthen its operations in Mexico. +Moderna announced that its experimental skin cancer vaccine combined with Merck& Co's Keytruda now has "breakthrough therapy" status as designated by U.S. regulators. +Bank of America (BofA) set aside $1.2 billion for litigation and fine settlements last year, compared with $164 million in 2021. +Wells Fargo laid off hundreds of mortgage bankers this week as part of its recent strategic plan, CNBC reports. + +Main earnings reports today: Alibaba, AstraZeneca, Raytheon, Honeywell, Unilever, S&P Global, Intuit, Deutsche Telekom, EssilorLuxottica, AXA, Solvay, GSK, Moderna... All the agenda is here. diff --git a/news/AZN/2023.02.23/Imfinzi plus Imjudo approved in EU for advanced cancers.txt b/news/AZN/2023.02.23/Imfinzi plus Imjudo approved in EU for advanced cancers.txt new file mode 100644 index 0000000000000000000000000000000000000000..d7085a074081bdb6b14c84de1763dc3e70050cb5 --- /dev/null +++ b/news/AZN/2023.02.23/Imfinzi plus Imjudo approved in EU for advanced cancers.txt @@ -0,0 +1 @@ +AstraZeneca's Imfinzi (durvalumab) and Imjudo (tremelimumab) immunotherapy combinations have been approved in the European Union (EU) for advanced liver and lung cancers.The approvals authorise the dual immunotherapy for first-line treatment in adults with advanced or unresectable hepatocellular carcinoma (HCC) and Imfinzi in combination with Imjudo and platinum-based chemotherapy for adults with metastatic (Stage IV) non-small cell lung cancer (NSCLC).EU approval of the immunotherapy combinationsThe approvals by the European Commission (EC) follow positive recommendations by The Committee for Medicinal Products for Human Use (CHMP) in December 2022. Positive results from the HIMALAYA Phase III trial were published in the New England Journal of Medicine Evidence. Results from the POSEIDON Phase III trial were published in the Journal of Clinical Oncology.Dr Solange Peters, PhD, Head of the Medical Oncology Service and Chair of Thoracic Oncology at Hospitalier Universitaire Vaudois, Lausanne, Switzerland, and principal investigator in the POSEIDON Phase III trial stated the EU approval means that patients in Europe “now have a valuable new treatment approach with demonstrated long-term survival benefits."The trials for Imfinzi with Imjudo"In HIMALAYA, an estimated 31 percent of patients treated with this novel combination of tremelimumab with durvalumab were alive at three years, while only 20 percent of patients treated with sorafenib were still alive at the same duration of follow-up," commented Dr Bruno Sangro, PhD, Director of the Liver Unit and Professor of Internal Medicine at Clínica Universidad de Navarra, and a lead investigator in the HIMALAYA Phase III trial.A single dose of the anti-CTLA-4 antibody Imjudo (300mg) combined with anti-PD-L1 antibody Imfinzi (1500mg dose) was given to patients followed by Imfinzi every four weeks. The treatment significantly reduced the risk of death by 22 percent versus sorafenib. Median overall survival (OS) was 16.4 months versus 13.8 for sorafenib. An estimated 31 percent of patients treated with the combination were still alive after three years. A total of 20 percent of patients treated with sorafenib were still alive at the same duration of follow-up.The EU approval for metastatic NSCLC is based on results from the POSEIDON Phase III trial. The trial demonstrated that a limited course of five cycles of the anti-CTLA-4 antibody Imjudo added to Imfinzi, plus four cycles of platinum-based chemotherapy significantly reduced the risk of death by 23 percent versus a range of chemotherapy options.Additional data on metastatic NSCLC in the POSEIDON Phase III trial showed:Updated results from a four-year follow-up of the trial showed:The safety profile for Imjudo plus Imfinzi and chemotherapy in both trials was consistent with the known profiles of each medicine, and no new safety signals were identified.For the POSEIDON indication in the EU, Imjudo will be temporarily marketed under the name Tremelimumab AstraZeneca until the second half of 2023.AstraZeneca dual immunotherapy approved for US liver cancer patients…The post Imfinzi plus Imjudo approved in EU for advanced cancers appeared first on European Pharmaceutical Review.© Russell Publishing Limited, 2023. All Rights Reserved., source Trade Journals \ No newline at end of file diff --git a/news/AZN/2023.02.23/Ionis reports fourth quarter and full year 2022 financial results.txt b/news/AZN/2023.02.23/Ionis reports fourth quarter and full year 2022 financial results.txt new file mode 100644 index 0000000000000000000000000000000000000000..471bafe0cbdcf5d690b81bef67818bd1f50b986f --- /dev/null +++ b/news/AZN/2023.02.23/Ionis reports fourth quarter and full year 2022 financial results.txt @@ -0,0 +1 @@ +CARLSBAD - Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) (the 'Company'), a genetic medicines company, today reported financial results for the fourth quarter and full year ended December 31, 2022.Financial Highlights2022 revenue was in line with expectations, reflecting revenue from numerous diverse sources. The prior year fourth quarter and full year benefited from the $200 million earned from AstraZeneca to jointly develop and commercialize eplontersen2022 operating expenses increased as planned compared to the prior year, reflecting investments in pipeline, technology and go-to-market activities for eplontersen, olezarsen and donidalorsenFurther strengthened financial position with royalty monetization and sale and leaseback transactions worth up to $1.5 billion, including more than $700 million already receivedInitiated construction of a new manufacturing facility to support Ionis' goal to sustainably deliver genetic medicines to the marketRecent Late-Stage Pipeline HighlightsSubmitted the eplontersen NDA in the U.S. for patients with polyneuropathy caused by hereditary TTR amyloidosisFDA Advisory Committee meeting planned for March 22, 2023 to review Biogen's NDA for tofersen for patients with SOD1-ALS (PDUFA date of April 25, 2023); EMA accepted MAA for reviewFDA granted olezarsen Fast Track designation for the treatment of patients with FCSReported positive Phase 2 data from the open label extension study of donidalorsen in patients with hereditary angioedema treated for one year, including new data showing clinically meaningful improvement in angioedema quality of life score; Phase 3 study expected to complete enrollment in 2023GSK advanced bepirovirsen into Phase 3 development in patients with chronic hepatitis BRecent Additional Pipeline HighlightsBiogen initiated a Phase 2 study of IONIS-MAPTRx (BIIB080) in patients with mild cognitive impairment or mild dementia due to Alzheimer's diseaseRoche initiated a Phase 2 study of tominersen in patients with prodromal or early manifest Huntington's diseaseBiogen initiated a Phase 1 study of ION306 (BIIB115) for the treatment of spinal muscular atrophy with the potential for long interval dosingRecent Technology Advancement HighlightsPartnered with Metagenomi to add gene editing capabilities to Ionis' technology platformAdvanced programs incorporating muscle LICA technology and MsPA backbone chemistry into preclinical development'We made substantial progress in 2022, marked by important achievements, including the December submission of the eplontersen NDA for people with ATTRv-PN. We also delivered multiple positive data readouts, enabling us to advance and expand our rich late- and mid-stage pipeline. And we took important steps to expand and diversify our technology, including our Metagenomi collaboration to add DNA editing to our platform,' said Brett P. Monia, Ph.D., chief executive officer of Ionis. 'As we start 2023, we are positioned to build upon our achievements by bringing our first near-term commercial opportunities to the market. We look forward to reporting the 66-week results from the eplontersen NEURO-TTRansform study in the first half of this year. Importantly, we are prepared to co-commercialization eplontersen with our partner, AstraZeneca. We also look forward to Phase 3 data from olezarsen in FCS patients, positioning us for our first independent launch. With the talent and resources we have today, we anticipate a highly productive year that will enable us to drive increasing value for all stakeholders.'About Ionis Pharmaceuticals, Inc.For more than 30 years, Ionis has been the leader in RNA-targeted therapy, pioneering new markets and changing the standards of care with its novel antisense technology. Ionis currently has three marketed medicines and a premier late-stage pipeline highlighted by industry leading cardiovascular and neurological franchises. Our scientific innovation began and continues with the knowledge that sick people depend on us, which fuels our vision of becoming the leader in genetic medicine, utilizing a multi-platform approach to discover, develop and deliver life-transforming therapies.Ionis Forward-looking StatementThis press release includes forward-looking statements regarding Ionis' business, financial guidance and the therapeutic and commercial potential of SPINRAZA (nusinersen), TEGSEDI (inotersen), WAYLIVRA (volanesorsen), eplontersen, olezarsen, donidalorsen, ION363, tofersen, pelacarsen, bepirovirsen, Ionis' technologies and Ionis' other products in development. Any statement describing Ionis' goals, expectations, financial or other projections, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties including those inherent in the process of discovering, developing and commercializing medicines that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such medicines. Ionis' forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Ionis' forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Ionis. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Ionis' programs are described in additional detail in Ionis' annual report on Form 10-K for the year ended December 31, 2021, and most recent Form 10-Q, which are on file with the Securities and Exchange Commission.In this press release, unless the context requires otherwise, 'Ionis,' 'Company,' 'we,' 'our' and 'us' all refer to Ionis Pharmaceuticals and its subsidiaries.Ionis Pharmaceuticals is a registered trademark of Ionis Pharmaceuticals, Inc. Akcea Therapeutics is a registered trademark of Akcea Therapeutics, Inc. TEGSEDI is a registered trademark of Akcea Therapeutics, Inc. WAYLIVRA is a registered trademark of Akcea Therapeutics, Inc. SPINRAZA is a registered trademark of Biogen.Contact:Email: info@ionisph.comTel: 760-603-2331(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AZN/2023.02.23/Mixed open in London; Rolls-Royce up, Mondi down.txt b/news/AZN/2023.02.23/Mixed open in London; Rolls-Royce up, Mondi down.txt new file mode 100644 index 0000000000000000000000000000000000000000..ddcbae32d706bee4646ba28a0e1964bed6f4c840 --- /dev/null +++ b/news/AZN/2023.02.23/Mixed open in London; Rolls-Royce up, Mondi down.txt @@ -0,0 +1 @@ +(Alliance News) - Stock prices in London opened mixed on Thursday, with large-cap indices underperforming amid mixed corporate earnings. The FTSE 100 index opened down 13.51 points, or 0.2%, at 7,917.12. The FTSE 250 was up 172.45 points, 0.9%, at 19,852.74, and the AIM All-Share was up 3.13 points, 0.4%, at 855.41. The Cboe UK 100 was down 0.2% at 792.14, the Cboe UK 250 was up 1.0% at 17,341.55, and the Cboe Small Companies was 0.1% lower at 13,929.97.In European equities on Thursday, the CAC 40 in Paris was up 0.4%, while the DAX 40 in Frankfurt was up 0.2%.Investors were also considering the latest policy-meeting minutes from the US Federal Reserve.Although the 25 basis point rate hike was agreed upon, the minutes showed a "few" members said they wanted a half-point, or 50-basis-point, hike that would show even greater resolve to get inflation down.Since the February meeting, regional presidents James Bullard of St Louis and Loretta Mester of Cleveland have said they were among the group that wanted a more aggressive move at the January 31 to February 1 rate-setting meeting."A lot of the takeaway from the minutes last night was that they didn't provide a lot of new information. That isn't entirely true, given that we now know that a number of other Fed officials share the view of Bullard and Mester that more needs to be done, and in light of the data since then that position will only have hardened further," said CMC Markets' Michael Hewson. There was a fairly muted response on Wall Street, with the Dow Jones Industrial Average ending down 0.3% and the S&P 500 down 0.2% but the Nasdaq Composite up 0.1%.The dollar was stronger against major currencies.Sterling was quoted at USD1.2052 early Thursday, lower than USD1.2066 at the London equities close on Wednesday. The euro traded at USD1.0612, down from USD1.0629. Against the yen, the dollar was quoted at JPY134.86, firm on JPY134.67.In the FTSE 100, Rolls-Royce shares jumped 17% in early trade. The jet engine maker's annual revenue increased to GBP13.52 billion from GBP11.22 billion a year before, but its pretax loss widened to GBP1.50 billion from GBP294 million, due to GBP2.42 billion in net financing costs. Operating profit improved to GBP837 million from GBP513 million, however. CEO Tufan Erginbilgic said Rolls-Royce will begin a strategic review as part of its restructuring programme, and will share the findings and its medium term goals in the second half of 2023. Looking to 2023, the company noted a "continued recovery" in its end markets, and is confidence of higher profit and cash flow. "When Erginbilgic took over earlier this year he didn't hold back in the challenges facing the current business. Likening the company to a 'burning platform' his words pulled the shares off their recent highs, which where their highest levels since February last year," said CMC's Hewson. "The announcement of a strategic review of all the businesses should go some way to indicating how he intends to steer the company."WPP added 3.9% in early trading, boasting strong performance across all its major agencies in 2022. Ad agency said revenue in 2022 rose 13% to GBP14.43 billion from GBP12.80 billion in 2021. Revenue less pass-through costs rose 14% to GBP11.80 billion. Pretax profit jumped 22% to GBP1.16 billion from GBP951 million. WPP raised its dividend to 39.4p from 31.2p. "We enter 2023 in a strong financial position with good momentum from new business and the many opportunities ahead of us," said CEO Mark Read. WPP expects like-for-like revenue less pass-through costs growth of 3% to 5% in 2023. "As a media giant, WPP has been stung by a global slowdown in marketing spending brought on my enormous geopolitical and economic stress. By all accounts this looks to be reversing, which has fed into strong growth at the end of the year," said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown. At the other end of London's blue-chips was Mondi, down 6.3%.The packaging and paper company said revenue jumped 28% in 2022 to EUR8.90 billion from EUR6.97 billion a year before. Pretax profit more than doubled to EUR1.56 billion from EUR712 million. The figures are based on continuing operations, excluding its divested Russian operations. Mondi recommended a dividend of 70 euro cents, up 7.7% from 65 cents a year before. However, investors seemed perturbed by the firm's shaky outlook."Whilst a number of input costs are starting to decline, we continue to see an environment of softer demand and pricing, with destocking expected to continue through the first quarter," Mondi warned. Ex-dividend stocks also were holding back the FTSE 100. AstraZeneca was down 1.8%, Unilever 1.4%, and Barclays 0.6%. In the FTSE 250, John Wood surged 31%. Late Wednesday, the energy sector-focused engineering and consulting business said it has rebuffed three unsolicited proposals for a takeover by Apollo Global Management.It said the most recent approach was received in late January, proposing a cash offer for all of its shares at a price of 230 pence each, around GBP1.59 billion in total.John Wood said the board "carefully considered" each of the proposals with its financial advisers and "engaged on a limited basis" with Apollo, before unanimously rejecting each proposal.Hikma Pharmaceuticals rose 5.3%, as it reported a dip in annual revenue while profit tumbled, but shared a more positive outlook for the current year.Revenue edged down 1% to USD2.52 billion from USD2.55 billion, but pretax profit dropped to USD233 million from USD544 million. This was due to an impairment in its Generics business. Hikma noted a strong performance from Injectables and Branded businesses, which helped to partially offset the Generics decline. The annual dividend was lifted by 4% to 56 cents."Looking ahead, we are confident that we will deliver good growth across all three of our businesses in 2023," said Chair & CEO Said Darwazah.On AIM, Quadrise Fuels added 10%. The residual oil technology licensor updated on its Moroccan material transfer & cooperation agreement. The company confirmed the MSAR fuel for the forthcoming trial has been cleared at Moroccan customers, and is now on its way to the client's facility. It is now finalising the trial schedule with its client, and expects fuel trials to begin before the end of the current quarter. In Asia on Thursday, financial markets in Tokyo were closed for the Emperor's Birthday holiday. In China, the Shanghai Composite fell 0.1%, while the Hang Seng index in Hong Kong lost 0.4%. The S&P/ASX 200 in Sydney closed down 0.4%. Gold was quoted at USD1,827.78 an ounce early Thursday, down from USD1,835.00 on Wednesday. Brent oil was trading at USD80.96 a barrel, lower than USD81.16Still to come on Thursday's economic calendar, there's a eurozone inflation reading at 1000 GMT, before the latest US jobless claims data at 1330 GMT.By Elizabeth Winter, Alliance News senior markets reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.23/Stocks to rise after uneventful Fed minutes.txt b/news/AZN/2023.02.23/Stocks to rise after uneventful Fed minutes.txt new file mode 100644 index 0000000000000000000000000000000000000000..09b0d3f7e8a077e9a4269416e3b65a777196845f --- /dev/null +++ b/news/AZN/2023.02.23/Stocks to rise after uneventful Fed minutes.txt @@ -0,0 +1 @@ +(Alliance News) - Stocks in London are set to open higher on Thursday, as investors seemed unfazed by the latest meeting minutes from the US Federal Reserve."The FTSE 100 looks set to underperform due to a host of big companies going ex-dividend, including GSK, AstraZeneca, Unilever and Barclays," said CMC Markets' Michael Hewson. IG says futures indicate the FTSE 100 to open up 17.5 points, or 0.2%, at 7,948.13 on Thursday. The index of London large-caps ended down 47.12 points, or 0.6%, at 7,930.63 on Wednesday. The CAC 40 index in Paris was called up 0.4%, and the DAX in Frankfurt was called up 0.5%. "Last night's Fed minutes didn't tell the markets much that hadn't been deduced already given the recent comments from Mester and Bullard last week," Hewson commented.Since the February meeting, regional presidents James Bullard of St Louis and Loretta Mester of Cleveland have said they were among the group that wanted a more aggressive move at the January 31 to February 1 rate-setting meeeting.Although the 25 basis point rate hike was agreed upon, the minutes showed a "few" members said they wanted a half-point, or 50 basis points, hike that would show even greater resolve to get inflation down."What they did show however was that there was significant sympathy for a 50bps rate hike from a few FOMC members before they settled on the more gradual option of a 25bps rate rise," Hewson added. There was a fairly muted response on Wall Street, with the Dow Jones Industrial Average ending down 0.3%, the S&P 500 down 0.2% and the Nasdaq Composite up 0.1%.The dollar was mixed against major currencies. Sterling was quoted at USD1.2074 early Thursday, higher than USD1.2066 at the London equities close on Wednesday. The euro traded at USD1.0627, unchanged from USD1.0629. Against the yen, the dollar was quoted at JPY134.74, firm on JPY134.67.In Asia on Thursday, financial markets in Tokyo were closed for the Emperor's Birthday holiday. In China, the Shanghai Composite was down 0.3%, while the Hang Seng index in Hong Kong was down 0.4%. The S&P/ASX 200 in Sydney closed down 0.4%. Gold was quoted at USD1,833.01 an ounce early Thursday, edging down from USD1,835.00 on Wednesday. Brent oil was trading at USD80.76 a barrel, lower than USD81.16.Thursday's economic calendar has a eurozone inflation reading at 1000 GMT, before the latest US jobless claims data at 1330 GMT.The London corporate calendar has annual results from defence contractor BAE Systems, jet-engine maker Rolls-Royce, and advertising agency WPP. By Elizabeth Winter, Alliance News senior markets reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.23/Upbeat corporate guidances lift European shares, Nvidia forecast boosts chip stocks.txt b/news/AZN/2023.02.23/Upbeat corporate guidances lift European shares, Nvidia forecast boosts chip stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..b84426d7622c907e702406df5f0ff7745c974e12 --- /dev/null +++ b/news/AZN/2023.02.23/Upbeat corporate guidances lift European shares, Nvidia forecast boosts chip stocks.txt @@ -0,0 +1,44 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window)*UK healthcare giants fall on ex-dividend trades*WPP leads gains among media stocks*AXA rises on guidance hike, surprise share buy-back*Rolls-Royce jumps on upbeat profit outlook for 2023*Euro zone inflation marginally higher in Jan; core also +lifted*STOXX 600 up 0.1%Feb 23 (Reuters) - European shares inched higher on +Thursday, after two straight sessions of declines, supported by +financial stocks and upbeat guidance by regional companies, +while U.S. semiconductor designer Nvidia's positive sales +forecast sparked a rally in chip stocks.The pan-European STOXX 600 index rose 0.1%.AXArose 3.2% after the French insurer raised its +2023 guidance and announced a share buy-back programme, while +posting lower-than-expected full-year earnings.Banks gained 0.9%, while insurers added +0.3%.Also aiding sentiment, data earlier in the day showed +that euro zone inflation was only atouch higherthan earlier estimated in January, confirming that price +growth is now well past its peak.The rate-sensitive technology sector rose 0.4%, +supported by a jump in semiconductor stocks.Chipmakers ASM International, BE Semiconductor +and Aixtron gained between 0.4% and 1.2%.U.S. peer Nvidia Corp forecast first-quarter +revenue above Wall Street estimates on Wednesday, noting a +strong boost from the use of its chips in artificial +intelligence (AI) services such as chatbots.The shorter-term demand for chips will get a boost to fuel +"an AI gold rush, if you think such a phenomenon will actually +materialize," said Greg Bassuk, chief executive at AXS +Investments.However, the worries of central banks raising interest rates +for longer still lingered.The minutes from the U.S. Federal Reserve's last policy +meeting released on Wednesday showed nearly all policymakers +rallied behind a decision to further slow the pace of interest +rate hikes, noting inflation would determine how much further +rates needed to rise."The starkest takeaway was, arguably, that some policymakers +could have gotten behind another 50 basis point increase and all +backed further tightening ahead," said Craig Erlam, senior +market analyst at OANDA.Recent data showed French and German economic activity moved +into growth territory, while a rebound in U.S. business activity +also backed views that interest rates in both economies will +remain higher for longer.Still, the STOXX 600 has risen nearly 9% so far this year, +more than double the S&P 500 index's 3.9% rise.Europe has benefited from better weather, hopes that the +economy will narrowly avoid a recession and a boost from China's +reopening.Engineering firm Rolls-Royce surged 23.7%, to the top +of the STOXX 600, after the company's CEO forecast more profit +growth in 2023 after last year's profit beat expectations.Auto stocks rose 1.0%, with carmaker Stellantis +up 3.6%.Media stocks were up 0.3%, boosted by a 3.4% rise in +British ad group WPP after it forecast +better-than-expected organic growth of 3% to 5% for the year.UK banks and healthcare majors fell, weighing on the FTSE +100 index. Barclays, Standard Chartered +, AstraZeneca and GSK fell as they +traded without an entitlement for dividend payout. +(Reporting by Shreyashi Sanyal in Bengaluru; Editing by +Subhranshu Sahu, Savio D'Souza and Andrew Heavens) \ No newline at end of file diff --git a/news/AZN/2023.02.24/American Cancer Society Receives $2.8 Million Grant from AstraZeneca to Expand Access t...txt b/news/AZN/2023.02.24/American Cancer Society Receives $2.8 Million Grant from AstraZeneca to Expand Access t...txt new file mode 100644 index 0000000000000000000000000000000000000000..0cd583968d4328224d70a3dfbc60f0aefc783d7b --- /dev/null +++ b/news/AZN/2023.02.24/American Cancer Society Receives $2.8 Million Grant from AstraZeneca to Expand Access t...txt @@ -0,0 +1 @@ +ATLANTA - Continuing their support of increased access to quality care across the cancer continuum, AstraZeneca has committed $2.8 million toward the American Cancer Society's (ACS) Navigation Capacity-Building Initiative Grant Program.The program is part of ACS's commitment to enhancing oncology patient navigation and addressing barriers to individualized, timely, and equitable care for cancer patients and their families.'Strategic partnerships have always been critical in our goal to end cancer as we know it, for everyone. We are excited to have the support of our longtime partner, AstraZeneca, to strengthen our patient support navigation programs,' said Dr. Karen E. Knudsen, CEO of the American Cancer Society. 'These programs are critical in addressing health inequities for cancer patients, especially those that face the greatest barriers to care.'Patient navigation is one of the only evidence-based interventions to effectively help eliminate health disparities and improve health equity across the cancer continuum. ACS and AstraZeneca's continued partnership will help expand access to patient navigation by addressing barriers to individualized, timely, and equitable means of entry to care for cancer patients.'While scientific innovation has advanced greatly, not all patients have benefited equally,' said Dr. Carlos Doti, AstraZeneca vice president of US Oncology Medical Affairs. 'ACS is leading critical work to address barriers to innovative cancer prevention, detection, and treatment options that help patients live longer healthier lives. AstraZeneca is proud to partner with ACS on this initiative to advance our shared mission to end cancer.'Last year, ACS rolled out a three-phase patient navigation initiative to advance health equity, expand clinical and patient navigation support, and increase funding stability and reimbursement. This program ensures that medically underserved populations can access the right type of information, supportive resources, and patient services.For more than 15 years, the American Cancer Society and AstraZeneca have collaborated in developing and growing ACS' Patient Navigation programs. Most recently, AstraZeneca awarded ACS with an additional $250,000 grant to expand the Health Equity Ambassadors network. The network helps increase cancer prevention, early detection education, and community collaboration within medically underserved populations to deliver critical cancer-related information and resources.About the American Cancer SocietyThe American Cancer Society is a leading cancer-fighting organization with a vision to end cancer as we know it, for everyone. For more than 100 years, we have been improving the lives of people with cancer and their families as the only organization combating cancer through advocacy, research, and patient support. We are committed to ensuring everyone has an opportunity to prevent, detect, treat, and survive cancer.Contact:Ana MarquezEmail: ana.marquez@cancer.org(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AZN/2023.02.24/AstraZeneca closes CinCor buy; Enhertu wins Chinese approval.txt b/news/AZN/2023.02.24/AstraZeneca closes CinCor buy; Enhertu wins Chinese approval.txt new file mode 100644 index 0000000000000000000000000000000000000000..66a9db322c46c38dd470eef4e738c4bd84bafb00 --- /dev/null +++ b/news/AZN/2023.02.24/AstraZeneca closes CinCor buy; Enhertu wins Chinese approval.txt @@ -0,0 +1 @@ +(Alliance News) - AstraZeneca PLC on Friday reported that it completed the acquisition of CinCor Pharma Inc, which focuses on hypertension and chronic kidney disease, while its cancer drug Enhertu won another approval, its first in China.The Cambridge-based pharmaceutical company said it completed the acquisition of Cincor Pharma for about USD1.3 billion. "The acquisition bolsters AstraZeneca's cardiorenal pipeline by adding baxdrostat, an aldosterone synthase inhibitor for blood pressure lowering in treatment-resistant hypertension, to its cardiorenal portfolio," AstraZeneca said. The value of the transaction could rise to USD1.8 billion if potential contingent value payments are made. AstraZeneca highlighted that the acquisition gives it the opportunity to potentially combine CinCor's baxdrostat with AstraZeneca's farxiga, which treats chronic kidney disease and heart failure. This could complement its strategy to provide added benefit across cardiorenal diseases, citing "a high unmet medical need".CinCor is a Waltham, Massachusetts-based clinical-stage biopharmaceutical company. Baxdrostat is CinCor's key clinical stage candidate. It is a high blood pressure treatment. Meanwhile, Enhertu, which AstraZeneca develops with Tokyo-based partner Daiichi Sankyo Co Ltd, was approved in China for a form of breast cancer. The approval is for patients with HER2-positive metastatic breast cancer that have been treated with one or more prior anti-HER2-based regimens. The approval is based on a phase III trial which showed a 72% reduction in the risk of disease progression or death compared to trastuzumab emtansine, in patients with HER2-positive unresectable and/or metastatic breast cancer previously treated with trastuzumab and a taxane. HER-2 is a growth promoting protein.Trastuzumab is a cancer drug, with trastuzumab emtansine specifically targeting breast cancer, while taxane is a drug aiming to block cell growth by stopping cell division. AstraZeneca shares were 0.3% lower at 11,172.00 pence each in London on Friday afternoon, while Daiichi Sankyo's shares closed down 2.1% at JPY4,323.00 each in Tokyo, before the announcements were publicised.By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/AZN/2023.02.24/Conoya and Lepu Bio jointly announced that they have reached an exclusive global licens...txt b/news/AZN/2023.02.24/Conoya and Lepu Bio jointly announced that they have reached an exclusive global licens...txt new file mode 100644 index 0000000000000000000000000000000000000000..aa2ec8459a4a49ef290f1440847de46bf3bd4d47 --- /dev/null +++ b/news/AZN/2023.02.24/Conoya and Lepu Bio jointly announced that they have reached an exclusive global licens...txt @@ -0,0 +1 @@ +China - Kangnuoya Biomedical Technology Co., Ltd. (HK: 02162) and Lepu Biotechnology Co., Ltd. (HK: 02157) jointly announced today that they will cooperate with AstraZeneca (LSE/STO /NASDAQ: AZN) has reached an exclusive global licensing agreement for the potential world's first Claudin 18.2 antibody conjugate drug CMG901.Under the license agreement, AstraZeneca will be responsible for the global development, production and commercialization of CMG901.CMG901 is undergoing a phase I clinical trial for the treatment of patients with solid tumors positive for Claudin18.2 expression. The preliminary results of the phase I clinical trial show that CMG901 has good safety and tolerability, and exhibits encouraging anti-tumor efficacy at the dose level of the current clinical trial.Based on this agreement and terms, KYM Biosciences Inc., a joint venture between Conoya and Lepu Biosciences, will receive an upfront payment of US$63 million and potential additional R&D and sales-related milestone payments of more than US$1.1 billion, as well as up to double digits Number of tiered royalties. AstraZeneca will receive an exclusive worldwide license for the research, development, registration, production and commercialization of CMG901. The transaction is expected to close in the first half of 2023, subject to customary closing conditions and regulatory clearances.Dr. Chen Bo, Co-Founder, Chairman and CEO of Conoya and Chairman of KYM Biosciences Inc. said: 'We are very pleased to cooperate with AstraZeneca. As a world-class biopharmaceutical company, AstraZeneca is in the field of anticancer The field has rich and successful experience in drug development and commercialization. This cooperation is not only based on the affirmation of CMG901 as the potential world's first Claudin18.2 ADC, but also the recognition of Connoya's independent R&D and innovation capabilities. Looking forward to this global project The cooperation will benefit patients at home and abroad.'Puja Sapra, Senior Vice President, Biologics Engineering and Tumor Targeted Delivery, AstraZeneca Oncology R&D, said: 'We welcome the opportunity to accelerate the development of CMG901, a potential new medicine for patients with Claudin18.2 positive cancers. CMG901 not only strengthens our growing pipeline of antibody-drug conjugates, but also supports our ambition to expand treatment options and improve outcomes for patients with gastrointestinal cancers.'About CMG901CMG901 is the first new recombinant humanized monoclonal antibody drug conjugate targeting Claudin 18.2 that has been approved for clinical trials in both China and the United States. It consists of an anti-Claudin 18.2 monoclonal antibody, a cleavable linker and a cytotoxic small molecule Composition of monomethyl auristatin E (MMAE). CMG901 is owned by KYM Biosciences Inc. (KYM), a joint venture between Conoya (70% owned by KYM) and Lepu Bio (30% owned by KYM) to jointly develop, manufacture and commercialize CMG901.Contact:Tel: 028-88610620Email: pr@keymedbio.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/AZN/2023.02.24/Enhertu approved in China for patients with HER2-positive metastatic breast cancer trea...txt b/news/AZN/2023.02.24/Enhertu approved in China for patients with HER2-positive metastatic breast cancer trea...txt new file mode 100644 index 0000000000000000000000000000000000000000..72cfe3921b873d87d1ebae108ebc344f47e3a14d --- /dev/null +++ b/news/AZN/2023.02.24/Enhertu approved in China for patients with HER2-positive metastatic breast cancer trea...txt @@ -0,0 +1 @@ +First approval for AstraZeneca and Daiichi Sankyo's Enhertu in ChinaApproval based on DESTINY-Breast03 results where Enhertu demonstrated a 72% reduction in the risk of disease progression or death vs. trastuzumab emtansine (T-DM1)AstraZeneca and Daiichi Sankyo's Enhertu (trastuzumab deruxtecan) has been approved in China as a monotherapy for the treatment of adult patients with unresectable or metastatic HER2-positive breast cancer who have received one or more prior anti-HER2-based regimens.Enhertu is a specifically engineered HER2-directed antibody drug conjugate (ADC) being jointly developed and commercialised by AstraZeneca and Daiichi Sankyo.The approval by China's National Medical Products Administration (NMPA) is based on the results of the DESTINY-Breast03 Phase III trial, where Enhertu demonstrated a 72% reduction in the risk of disease progression or death compared to trastuzumab emtansine (T-DM1) (hazard ratio [HR] 0.28; 95% confidence interval [CI] 0.22-0.37; p.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.02.27/Acquisition of CinCor Pharma complete.txt b/news/AZN/2023.02.27/Acquisition of CinCor Pharma complete.txt new file mode 100644 index 0000000000000000000000000000000000000000..56c16724d20b8c01a5a3ff1f84896cf0f57a5e25 --- /dev/null +++ b/news/AZN/2023.02.27/Acquisition of CinCor Pharma complete.txt @@ -0,0 +1 @@ +AstraZeneca announced today the successful completion of the acquisition of CinCor Pharma, Inc. (CinCor), a US-based clinical-stage biopharmaceutical company, focused on developing novel treatments for resistant and uncontrolled hypertension as well as chronic kidney disease.The acquisition bolsters AstraZeneca's cardiorenal pipeline by adding baxdrostat (CIN-107), an aldosterone synthase inhibitor (ASI) for blood pressure lowering in treatment-resistant hypertension, to its cardiorenal portfolio.Baxdrostat represents a potentially leading next-generation ASI as it is highly selective for aldosterone synthase and spares the cortisol pathway in humans1. The opportunity also brings the potential for combination with Farxiga and complements AstraZeneca's strategy to provide added benefit across cardiorenal diseases, where there is a high unmet medical need.The acquisition was completed through a tender offer to purchase all outstanding shares of CinCor for approximately $1.3bn upfront. As part of the transaction, AstraZeneca acquired the cash and marketable securities on CinCor's balance sheet, which totalled approximately $500 million as of the closing, excluding transaction-related expenses. Under the terms of the agreement, CinCor shareholders also received a non-tradable contingent value right, payable upon a specified regulatory submission of a baxdrostat product. Combined, the upfront and contingent value payments represent, if achieved, a transaction value of approximately $1.8bn. As of the expiration of the tender offer, 39,580,275 shares of CinCor were validly tendered and not validly withdrawn from the tender offer, representing approximately 86.3% of the outstanding shares of common stock of CinCor, and such shares have been accepted for payment in accordance with the terms of the tender offer. CinCor's shares will be delisted from the Nasdaq Stock Market, and CinCor will terminate its registration under the U.S. Securities Exchange Act of 1934 as soon as practicable following completion of the acquisition.Forward-looking statementsThis announcement may include statements that are not statements of historical fact, or "forward-looking statements," including with respect to AstraZeneca's acquisition of CinCor. Such forward-looking statements include, but are not limited to, AstraZeneca's and CinCor's beliefs and expectations and statements about the benefits sought to be achieved in AstraZeneca's acquisition of CinCor, the potential effects of the acquisition on both AstraZeneca and CinCor, as well as the expected benefits and success of baxdrostat and any combination product. These statements are based upon the current beliefs and expectations of AstraZeneca's and CinCor's management and are subject to significant risks and uncertainties. There can be no guarantees that baxdrostat or any combination product will receive the necessary regulatory approvals or prove to be commercially successful if approved. If underlying assumptions prove inaccurate or risks or uncertainties materialise, actual results may differ materially from those set forth in the forward-looking statements.Risks and uncertainties include but are not limited to, the possibility that the milestone related to the contingent value right will not be achieved; general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of COVID-19; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; competition from other products; and challenges inherent in new product development, including obtaining regulatory approval.Neither AstraZeneca nor CinCor undertakes any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in AstraZeneca's Annual Report on Form 20-F for the year ended 31 December 2022, CinCor's Annual Report on Form 10-K for the year ended 31 December 2021 and CinCor's Quarterly Reports on Form 10-Q for the three months ended 31 March 2022, 30 June 2022 and 30 September 2022, in each case as amended by any subsequent filings made with the SEC. These and other filings made by AstraZeneca and CinCor with the SEC are available at the SEC's Internet site (www.sec.gov).NotesBaxdrostat (CIN-107)Baxdrostat is a highly selective, oral small molecule inhibitor of aldosterone synthase, the enzyme responsible for the synthesis of aldosterone in the adrenal gland, in development for patient populations with significant unmet medical needs, including treatment-resistant hypertension, primary aldosteronism and chronic kidney disease. Baxdrostat selectively targets aldosterone synthase, which is encoded by the CYP11B2 gene while having a much lower affinity for the blocking activity of 11ß-hydroxylase, the enzyme responsible for cortisol synthesis, which is encoded by the CYP11B1 gene. In clinical trials, baxdrostat was observed to significantly lower aldosterone levels without affecting cortisol levels, across a wide range of doses1.In patients with treatment-resistant hypertension, a key focus area, baxdrostat met the primary endpoint in the BrigHTN Phase II trial showing a statistically significant reduction in systolic blood pressure (SBP) after a 12-week treatment period1,2. Baxdrostat did not meet the primary endpoint of showing a statistically significant reduction in SBP at eight weeks in the HALO Phase II trial in patients with uncontrolled hypertension3,4. Baxdrostat was well tolerated in both trials. Two additional Phase II trials are ongoing in hypertensive patients with primary aldosteronism (Spark-PA)5 and in chronic kidney disease (CKD)6. A Phase III trial of baxdrostat is planned to start in treatment-resistant hypertension during the first half of 2023.FarxigaFarxiga (dapagliflozin) is a first-in-class, oral, once-daily SGLT2 inhibitor. Research has shown Farxiga's efficacy in preventing and delaying cardiorenal disease, while also protecting the organs - important findings given the underlying links between the heart, kidneys and pancreas7-9. Damage to one of these organs can cause the other organs to fail, contributing to leading causes of death worldwide, including T2D, HF and chronic kidney disease (CKD)10-13.AstraZeneca in CVRMCardiovascular, Renal and Metabolism (CVRM), part of BioPharmaceuticals, forms one of AstraZeneca's main disease areas and is a key growth driver for the Company. By following the science to understand more clearly the underlying links between the heart, kidneys and pancreas, AstraZeneca is investing in a portfolio of medicines for organ protection and improve outcomes by slowing disease progression, reducing risks and tackling co-morbidities. The Company's ambition is to modify or halt the natural course of CVRM diseases and potentially regenerate organs and restore function, by continuing to deliver transformative science that improves treatment practices and CV health for millions of patients worldwide.AstraZenecaAstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca.ContactsFor details on how to contact the Investor Relations Team, please click here. For Media contacts, click here.References1. Freeman MW, et al. (2022) Phase 2 Trial of Baxdrostat for Treatment-Resistant Hypertension. NEJM, DOI: 10.1056/NEJMoa2213169.2. A Study of CIN-107 in Adults With Treatment-Resistant Hypertension (rHTN) (BrigHTN). Available from: https://www.clinicaltrials.gov/ct2/show/NCT04519658?term=cin-107&draw=2&rank=2 [Last accessed 28 Dec 2022]3. CinCor Pharma Announces Topline Data for Phase 2 HALO Trial Evaluating Selective Aldosterone Synthase Inhibitor Baxdrostat in Uncontrolled Hypertension. Available from: https://www.cincor.com/news-releases/news-release-details/cincor-pharma-announces-topline-data-phase-2-halo-trial [Last accessed 30 Dec 2022].4. A Study of CIN-107 in Patients With Uncontrolled Hypertension Receiving 1 Antihypertensive Agent (HALO). Available from: https://www.clinicaltrials.gov/ct2/show/NCT05137002?term=cin-107&draw=2&rank=1 [Last accessed 28 Dec 2022]5. A Study of CIN-107 in Adults With Primary Aldosteronism (spark-PA). Available from: https://www.clinicaltrials.gov/ct2/show/NCT04605549?term=cin-107&draw=2&rank=3 [Last accessed 28 Dec 2021]6. A Study to Evaluate CIN-107 for the Treatment of Patients With Uncontrolled Hypertension and Chronic Kidney Disease. Available from: https://clinicaltrials.gov/ct2/show/NCT05432167?term=CIN-107&draw=2&rank=4 [Last accessed 28 Dec 2022].7. McMurray JJV, et al. (2019) Dapagliflozin in patients with heart failure and reduced ejection fraction. NEJM, 381(21):1995-2008.8. Heerspink HJL, et al. (2020) Dapagliflozin in patients with chronic kidney disease. NEJM, 383(15):1436-46.9. Wiviott SD, et al. (2019) Dapagliflozin and cardiovascular outcomes in type-2 diabetes [article and supplementary appendix]. NEJM, 380(4):347-57.10. Mayo Clinic [Internet]. Heart failure [cited 2022 Nov 23]. Available from: https://www.mayoclinic.org/diseases-conditions/heart-failure/symptoms-causes/syc-20373142.11. Vos T, et al. (2017) Global, regional, and national incidence, prevalence, and years lived with disability for 328 diseases and injuries for 195 countries, 1990-2016: A systematic analysis for the Global Burden of Disease Study 2016. Lancet, 390(10100):1211-59.12. Centers for Disease Control and Prevention (CDC) [Internet]. A snapshot: Diabetes in the United States. Available from: https://www.cdc.gov/diabetes/library/socialmedia/infographics/diabetes.html [Last accessed 28 Dec 2022].13. National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) [Internet]. Heart disease & kidney disease. Available from: https://www.niddk.nih.gov/health-information/kidney-disease/heart-disease [Last accessed 28 Dec 2022].Adrian KempCompany SecretaryAstraZeneca PLC.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/AZN/2023.02.27/Shionogi sees COVID pill reaping $2 billion in annual sales upon U.S. approval.txt b/news/AZN/2023.02.27/Shionogi sees COVID pill reaping $2 billion in annual sales upon U.S. approval.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d4265c9208c73703f5a3cc8df1ef49a6331243e --- /dev/null +++ b/news/AZN/2023.02.27/Shionogi sees COVID pill reaping $2 billion in annual sales upon U.S. approval.txt @@ -0,0 +1 @@ +Xocova, a protease inhibitor like the COVID treatments developed by Pfizer Inc and Merck & Co, was granted emergency approval by Japanese regulators in November, making it the nation's first domestically produced oral treatment for COVID.CEO Isao Teshirogi told Reuters that the drug - seen as the biggest of heavy bets by Shionogi on pandemic-related treatments - could be approved in South Korea and China as early as next month.While Xocova came later to the market than Shionogi initially hoped for after Japanese regulators twice requested more data, the company says interim results of a study suggest taking the pill could lessen a patient's chances of developing long COVID."If you kill the virus fast enough and sharp enough, the lower the probability of long COVID. That's our hypothesis, but we need to prove that," Teshirogi said in an interview.Competing drugs are also under the microscope for their potential to deliver similar outcomes. According to one study by the Veterans Affairs St. Louis Health Care System, Pfizer's antiviral drug Paxlovid cuts the risk of developing many long COVID symptoms.Shionogi sold 2 million courses of Xocova, taken once daily for five days, to the Japanese government last year for 100 billion yen ($740 million).Jefferies analyst Stephen Barker estimates, however, that only about 11,000 courses of Xocova are being consumed each month in Japan.Shionogi is hoping for Xocova sales of around $1 billion to $1.5 billion this year.Teshirogi said he expects U.S. approval of the drug could also come by the winter of 2024, pending a Phase III trial funded in part by the National Institutes of Health."I think $2 billion out of the COVID-19 market is not very difficult," he said, basing his estimate on Pfizer's forecast for more than $20 billion in COVID-related sales in 2023.Shionogi, a specialist drugmaker for infectious diseases like HIV and influenza, has ploughed about 80% of its research and development budget on coronavirus treatments in recent years.A recombinant protein-based COVID vaccine has been submitted for approval in Japan. The shot is being retooled for the Omicron variant and a nasally inhaled version is also in the works.But nearly all COVID inoculations in Japan have been with mRNA-type vaccines. The government has cancelled orders for tens of millions of shots developed by AstraZeneca Plc and Novavax Inc, clouding prospects for non-mRNA shots like Shionogi's. The company's heavy investment in COVID projects has led to concern among some analysts that its mainline drug pipeline is stagnating. "I have no regrets," Teshirogi said, adding that expectations among shareholders and the public had demanded that Shionogi devote its resources to fighting COVID. ($1 = 134.9600 yen) (Reporting by Rocky Swift; Editing by Miyoung Kim and Edwina Gibbs)By Rocky Swift \ No newline at end of file diff --git a/news/BIIB/2023.01.04/Biogen and Alcyone Therapeutics Announce License and Collaboration Agreement to Evaluat...txt b/news/BIIB/2023.01.04/Biogen and Alcyone Therapeutics Announce License and Collaboration Agreement to Evaluat...txt new file mode 100644 index 0000000000000000000000000000000000000000..155165d73475bc0484661a4d9ef53d9faa51b450 --- /dev/null +++ b/news/BIIB/2023.01.04/Biogen and Alcyone Therapeutics Announce License and Collaboration Agreement to Evaluat...txt @@ -0,0 +1 @@ +CAMBRIDGE, Mass. and LOWELL, Mass., Jan. 04, 2023 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) and Alcyone Therapeutics (Alcyone) have entered into a license and collaboration agreement to develop Alcyone’s ThecaFlex DRx™ System, an implantable medical device intended for subcutaneous delivery of antisense oligonucleotide (ASO) therapies into the intrathecal space. Through this agreement, Biogen aims to leverage the ThecaFlex DRx™ System with a goal of improving the patient treatment experience and accessibility for a broader population of people suffering from neurological disorders, such as spinal muscular atrophy (SMA) and amyotrophic lateral sclerosis (ALS).The ThecaFlex DRx™ System has the potential to be the first implantable device designed to enable routine subcutaneous administration of ASO therapies to the cerebrospinal fluid. The ThecaFlex DRx™ System has received a CE Mark in Europe. In addition, it has also received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) and will require further clinical studies before it can be submitted to the FDA for review.“We are continually listening to the neuromuscular disease community and whenever possible, adapting our work to meet their evolving needs for treatment and patient care,” said Priya Singhal, Interim Head of R&D at Biogen. “Biogen looks forward to working with Alcyone to explore the potential of this device, which we believe will provide greater flexibility to people with spinal muscular atrophy and other neurological disorders as well as their doctors in making the right treatment decisions.”“Alcyone designed the ThecaFlex DRx™ System to be a therapeutic delivery alternative for patients with a chronic neurological condition whose current treatment requires repeat lumbar puncture,” said PJ Anand, Chief Executive Officer of Alcyone. "This agreement underscores Alcyone’s expertise in cerebrospinal fluid delivery technology which we believe will lead to an improved treatment experience for some people living with neurological conditions and their caregivers. We consider Biogen, a global leader, an ideal collaborator toward this mutual goal.”Under the terms of the agreement, Biogen will make an upfront payment of $10 million to Alcyone for an exclusive global license to the ThecaFlex DRx™ System in SMA and ALS as well as a co-exclusive global license in an unnamed indication. Should certain development and commercial milestones be achieved, Alcyone will be eligible to receive up to $41 million in potential milestone payments. The deal also provides flexibility to expand the collaboration as additional ASO therapies progress through Biogen’s pipeline.Biogen and Alcyone will jointly collaborate on clinical development of the ThecaFlex DRx™ System for ASO therapies, and Alcyone will be solely responsible for its manufacture and commercialization. The ThecaFlex DRx™ System will initially be evaluated with SPINRAZA® (nusinersen) in SMA, which will inform pathways for Biogen's broader portfolio of investigational ASO therapies.About The ThecaFlex DRx™ SystemThe ThecaFlex DRx™ System (ThecaFlex), a technology within Alcyone’s Falcon™ Delivery Platform, is an implantable intrathecal (IT) catheter, catheter fixation device, and subcutaneous port system designed to provide access to the cerebrospinal fluid (CSF) for the infusion of therapy by IT bolus administration. Lumbar puncture (LP), commonly known as a spinal tap, is the current standard of care approach to delivering therapeutics into the CSF. ThecaFlex is designed to be an alternative to LP, especially for people with challenging anatomy or for those who require multiple anesthesia and radiation exposures for repeat LPs.The ThecaFlex DRx™ System has received CE Mark in Europe and Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA). ThecaFlex is not approved by the FDA. For more information, visit www.alcyonetx.com.About SPINRAZA® (nusinersen)SPINRAZA is approved to treat infants, children and adults with spinal muscular atrophy (SMA) and is approved in more than 60 countries. As a foundation of care in SMA, more than 13,000 individuals have been treated with SPINRAZA worldwide.1 SPINRAZA is an antisense oligonucleotide (ASO) that targets the root cause of SMA by continuously increasing the amount of full-length survival motor neuron (SMN) protein produced in the body.2 It is administered directly into the central nervous system, where motor neurons reside, to deliver treatment where the disease starts.2 SPINRAZA has demonstrated sustained efficacy across ages and SMA types with a well-established safety profile based on data in patients treated up to 8 years, combined with unsurpassed real-world experience.3 The nusinersen clinical development program encompasses more than 10 clinical studies, which have included more than 460 individuals across a broad spectrum of patient populations, including two randomized controlled studies (ENDEAR and CHERISH). The ongoing SHINE and NURTURE open-label extension studies are evaluating the long-term impact of SPINRAZA. The most common adverse events observed in clinical studies were respiratory infection, fever, constipation, headache, vomiting and back pain. Laboratory tests can monitor for renal toxicity and coagulation abnormalities, including acute severe low platelet counts, which have been observed after administration of some ASOs. Biogen licensed the global rights to develop, manufacture and commercialize SPINRAZA from Ionis Pharmaceuticals, Inc. (Nasdaq: IONS). Please click here for Important Safety Information and full Prescribing Information for SPINRAZA in the U.S., or visit your respective country’s product website. About BiogenAs pioneers in neuroscience, Biogen discovers, develops, and delivers worldwide innovative therapies for people living with serious neurological diseases as well as related therapeutic adjacencies. One of the world’s first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Sir Kenneth Murray, and Nobel Prize winners Walter Gilbert and Phillip Sharp. Today, Biogen has a leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, and developed the first and only approved treatment to address a defining pathology of Alzheimer’s disease. Biogen is also commercializing biosimilars and focusing on advancing one of the industry’s most diversified pipelines in neuroscience that will transform the standard of care for patients in several areas of high unmet need.We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media - Twitter, LinkedIn, Facebook, YouTube.About Alcyone TherapeuticsAlcyone Therapeutics is a biotechnology company pioneering next-generation precision gene-based therapies for complex neurological conditions. The company integrates innovation in neuroscience, precision dosing platforms, and manufacturing capabilities to deliver transformative therapies to patients. Alcyone leverages the synergy between Falcon™, the Company’s proprietary intrathecal precision dosing and biodistribution platform that incorporates deep knowledge of cerebral spinal fluid (CSF) dynamics, computational modeling, and bioengineering, and novel gene-based therapeutics platforms developed at the Abigail Wexner Research Institute at Nationwide Children’s Hospital (AWRI). This comprehensive approach allows for the optimization of central nervous system (CNS) dosing and delivery to better target the pathophysiology and anatomy specific to various neurological diseases. Alcyone’s lead programs utilize X chromosome reactivation for X-linked disorders and targets the treatment of Rett syndrome, and gene replacement for the treatment of IGHMBP2-related disorders including spinal muscular atrophy with respiratory distress type 1 (SMARD1) and Charcot Marie Tooth disease type 2S (CMT2S). For more information, visit www.alcyonetx.com.Biogen Safe Harbor This news release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the potential benefits, safety and efficacy of the ThecaFlex DRx™ System; the clinical development program for ThecaFlex DRx™ system; our collaboration with Alcyone; the potential of our commercial business and pipeline programs and risks and uncertainties associated with drug development and commercialization. These forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “possible,” “will,” “would” and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk and only a small number of research and development programs result in commercialization of a product. Results in early stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements or the scientific data presented.These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including without limitation, uncertainty of success in the development and potential commercialization of the ThecaFlex DRx™ System; the risk that we may not fully enroll our clinical trials or enrollment will take longer than expected; unexpected concerns may arise from additional data, analysis or results obtained during our clinical trials; regulatory authorities may require additional information or further studies, or may fail or refuse to approve or may delay approval of our drug candidates; the occurrence of adverse safety events; the risks of unexpected hurdles, costs or delays; failure to protect and enforce our data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; product liability claims; and the direct and indirect impacts of the ongoing COVID-19 pandemic on our business, results of operations and financial condition. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in our most recent annual or quarterly report and in other reports we have filed with the U.S. Securities and Exchange Commission. These statements are based on our current beliefs and expectations and speak only as of the date of this news release.We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.References:© OMX, source GlobeNewswire - EU Press Releases \ No newline at end of file diff --git a/news/BIIB/2023.01.05/Biogen Names Priya Singhal as Executive Vice President, Head of Development.txt b/news/BIIB/2023.01.05/Biogen Names Priya Singhal as Executive Vice President, Head of Development.txt new file mode 100644 index 0000000000000000000000000000000000000000..1972aa478b22cd462eb5c6361ad2f3e3331691b9 --- /dev/null +++ b/news/BIIB/2023.01.05/Biogen Names Priya Singhal as Executive Vice President, Head of Development.txt @@ -0,0 +1 @@ +CAMBRIDGE, Mass., Jan. 05, 2023 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) announced that Priya Singhal, M.D., M.P.H., currently Head of Global Safety and Regulatory Sciences and Interim Head of Research & Development (R&D), has been promoted to Executive Vice President, Head of Development, following a decision to separate Research and Development into two distinct functions that will both report directly to the CEO.In addition, Biogen has initiated a search for a new Executive Vice President, Head of Research; Dr. Singhal will serve as interim head of Research until a new leader is named.“Throughout her tenure at Biogen, Priya has demonstrated excellent leadership and judgement. In this new role, Priya will focus on delivering on our development programs while working closely with a new dedicated head of Research to strengthen Biogen’s translational science capabilities,” said Christopher A. Viehbacher, President and Chief Executive Officer of Biogen. “We believe having two dedicated leaders will enhance productivity in bringing to patients worldwide medicines to treat some of the most challenging diseases, while assuring better risk management and resource stewardship.”Priya Singhal, M.D., M.P.H. – Dr. Singhal most recently served as Senior Vice President and Head of Global Safety and Regulatory Sciences and Interim Head of R&D at Biogen. She also had oversight of Japan and China R&D. Dr. Singhal rejoined Biogen in 2020, having previously led Biogen’s Global Safety and Benefit Risk Management as the interim co-lead and Senior Vice President of Global Development. In this role she managed the worldwide benefit-risk strategy for the portfolio as well as for the filings and approvals of six products. She joined Biogen in late 2012 as Vice President Clinical Trials and Benefit-Risk Management. Prior to her return to Biogen, Dr. Singhal served as Head of R&D and Manufacturing at Zafgen Inc., a clinical-stage biopharmaceutical company leveraging its proprietary knowledge of MetAP2 systems biology to develop novel therapies for patients affected by a range of metabolic diseases. From 2008-2012 she was at Vertex Pharmaceuticals where she served as the Vice President, Medical Affairs and held roles of increasing seniority in Global Patient Safety. She began her drug-development career at Millennium Pharmaceuticals where she led benefit-risk for Velcade and two compounds in the development portfolio.Preceding her career in the biotechnology Industry, Dr. Singhal completed her M.P.H. in International Health at Harvard School of Public Health and obtained her training in Internal Medicine in Mumbai, India.About BiogenAs pioneers in neuroscience, Biogen discovers, develops, and delivers worldwide innovative therapies for people living with serious neurological diseases as well as related therapeutic adjacencies. One of the world’s first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Sir Kenneth Murray, and Nobel Prize winners Walter Gilbert and Phillip Sharp. Today, Biogen has a leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, and developed the first and only approved treatment to address a defining pathology of Alzheimer’s disease. Biogen is also commercializing biosimilars and focusing on advancing one of the industry’s most diversified pipelines in neuroscience that will transform the standard of care for patients in several areas of high unmet need.We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media - Twitter, LinkedIn, Facebook, YouTube.Biogen Safe Harbor This news release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, relating to: our strategy and plans; potential of, and expectations for, our commercial business and pipeline programs; capital allocation and investment strategy; clinical development programs, clinical trials, and data readouts and presentations; the expected benefits from Ms. Singhal’s appointment as Executive Vice President, Head of Development; and the expected benefits from the separation of Research and Development into two distinct functions. These forward-looking statements may be accompanied by such words as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “plan,” “potential,” “possible,” “prospect,” “will,” “would,” and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements or the scientific data presented.These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including: our dependence on sales from our products; uncertainty of long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; failure to compete effectively due to significant product competition in the markets for our products; failure to successfully execute or realize the anticipated benefits of our strategic and growth initiatives; difficulties in obtaining and maintaining adequate coverage, pricing, and reimbursement for our products; our dependence on collaborators, joint venture partners, and other third parties for the development, regulatory approval, and commercialization of products and other aspects of our business, which are outside of our full control; the potential impact of the conflict in Ukraine; risks associated with current and potential future healthcare reforms; risks related to commercialization of biosimilars; risks relating to the distribution and sale by third parties of counterfeit or unfit versions of our products; risks relating to the use of social media for our business; failure to obtain, protect, and enforce our data, intellectual property, and other proprietary rights and the risks and uncertainties relating to intellectual property claims and challenges; the risk that positive results in a clinical trial may not be replicated in subsequent or confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical trials or trials in other potential indications; risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates; the occurrence of adverse safety events, restrictions on use with our products, or product liability claims; risks relating to technology failures or breaches; problems with our manufacturing processes; risks relating to management and personnel changes, including attracting and retaining personnel; failure to comply with legal and regulatory requirements; the risks of doing business internationally, including currency exchange rate fluctuations; risks relating to investment in our manufacturing capacity; the direct and indirect impacts of the ongoing COVID-19 pandemic on our business, results of operations, and financial condition; fluctuations in our operating results; risks related to investment in properties; the market, interest, and credit risks associated with our investment portfolio; risks relating to share repurchase programs; risks relating to access to capital and credit markets; risks related to indebtedness; change in control provisions in certain of our collaboration agreements; fluctuations in our effective tax rate; environmental risks; and any other risks and uncertainties that are described in other reports we have filed with the U.S. Securities and Exchange Commission.These statements are based on our current beliefs and expectations and speak only as of the date of this news release. We do not undertake any obligation to publicly update any forward-looking statements.© OMX, source GlobeNewswire - EU Press Releases \ No newline at end of file diff --git a/news/BIIB/2023.01.05/Biogen names Priya Singhal as head of development after splitting R&D division.txt b/news/BIIB/2023.01.05/Biogen names Priya Singhal as head of development after splitting R&D division.txt new file mode 100644 index 0000000000000000000000000000000000000000..4b03826dd6df17678896d297b6cfbdf7e884ac10 --- /dev/null +++ b/news/BIIB/2023.01.05/Biogen names Priya Singhal as head of development after splitting R&D division.txt @@ -0,0 +1,6 @@ +Jan 5 (Reuters) - Biogen Inc on Thursday named +Interim Research and Development Chief Priya Singhal as +executive vice president, head of development following the +separation of the drugmaker's R&D division into two units. +(Reporting by Leroy Leo in Bengaluru; Editing by Shounak +Dasgupta) \ No newline at end of file diff --git a/news/BIIB/2023.01.05/Biogen splits R&D division ahead of key decision on Alzheimer's drug.txt b/news/BIIB/2023.01.05/Biogen splits R&D division ahead of key decision on Alzheimer's drug.txt new file mode 100644 index 0000000000000000000000000000000000000000..ffc4cd630c95fd9239bfccdfedef8a411bf901bd --- /dev/null +++ b/news/BIIB/2023.01.05/Biogen splits R&D division ahead of key decision on Alzheimer's drug.txt @@ -0,0 +1,15 @@ +Jan 5 (Reuters) - Biogen Inc said on Thursday +it will split its research and development division into two +units ahead of a highly anticipated decision by the U.S. health +regulator about the company's second Alzheimer's drug.The company named interim R&D chief Priya Singhal as +executive vice president, head of development following the +separation.Singhal will also serve as the interim head of research till +the company completes its search for a new chief for that +division.Both Singhal and the new research head will report to Chief +Executive Officer Christopher Viehbacher, the former Sanofi SA +boss who was appointed after a months-long search to +replace Michel Vounatsos.The announcement comes as the company awaits the U.S. Food +and Drug Administration's decision for Biogen and Japanese +partner Eisai Co's Alzheimer's drug lecanemab. +(Reporting by Leroy Leo in Bengaluru; Editing by Shounak +Dasgupta) \ No newline at end of file diff --git a/news/BIIB/2023.01.06/Eisai Submits Supplemental Biologics License Application to FDA for Traditional Approva...txt b/news/BIIB/2023.01.06/Eisai Submits Supplemental Biologics License Application to FDA for Traditional Approva...txt new file mode 100644 index 0000000000000000000000000000000000000000..b6caa7242128ce2dac07c2bb36d8e66309259ad7 --- /dev/null +++ b/news/BIIB/2023.01.06/Eisai Submits Supplemental Biologics License Application to FDA for Traditional Approva...txt @@ -0,0 +1,82 @@ + + +Submission for traditional approval follows FDA accelerated approval of LEQEMBI on the same day, and is based on data from the confirmatory Phase 3 Clarity AD clinical trial +TOKYO and CAMBRIDGE, Mass., Jan. 6, 2023 /PRNewswire/ -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") and Biogen Inc. (Nasdaq: BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher "Biogen") announced Eisai has submitted a supplemental Biologics License Application (sBLA) to the U.S. Food and Drug Administration (FDA) supporting the conversion of the Accelerated Approval of LEQEMBI™ (lecanemab-irmb) 100 mg/mL injection for intravenous use to a traditional approval. This sBLA is subject to validation of whether the FDA accepts the application for review. LEQEMBI is a humanized immunoglobulin gamma 1 (IgG1) monoclonal antibody directed against aggregated soluble ("protofibrils")* and insoluble forms of amyloid beta (Aβ), approved under Accelerated Approval Pathway by the FDA on January 6, 2023, for the treatment of Alzheimer's Disease (AD). Treatment with LEQEMBI should only be initiated in patients with the mild cognitive impairment or mild dementia stage of disease and confirmed presence of Aβ pathology. + + + + + + + +Accelerated Approval of LEQEMBI was based on Phase 2 data that demonstrated LEQEMBI reduced the accumulation of Aβ plaque in the brain, a defining feature of AD. Continued approval for this indication is contingent upon verification of LEQEMBI's clinical benefit in a confirmatory trial. The sBLA for LEQEMBI is based on the data from the Phase 3 confirmatory Clarity AD clinical trial. In Clarity AD, LEQEMBI met the primary endpoint and all key secondary endpoints with highly statistically significant results, and the profile of Amyloid-Related Imaging Abnormalities (ARIA) incidence was within expectations. In November 2022, the results of the Clarity AD study were presented at the 2022 Clinical Trials on Alzheimer's Disease (CTAD) conference, and simultaneously published in the New England Journal of Medicine, peer-reviewed medical journals. +"We deeply appreciate the cooperation of people living with Alzheimer's disease and healthcare professionals who participated in LEQEMBI's Phase 3 Clarity AD clinical study, which enabled us to submit this sBLA. Alzheimer's disease causes significant impairment and burden to both the people living with this disease and their families, as well as having a profound impact on society," said Haruo Naito, Chief Executive Officer at Eisai. "The fact that Eisai was able to file LEQEMBI's supplemental Biologics License Application for traditional FDA approval on the same day we received accelerated approval demonstrates our commitment to the Alzheimer's disease community and is a major step forward in ensuring access for all those in the U.S living with this disease in need of this medicine. We will continue to actively cooperate with the FDA's review." +Eisai has initiated submission of data for BLA to the National Medical Products Administration (NMPA) of China in December 2022. Eisai plans to file for marketing authorization applications of lecanemab in Japan and EU by the end of Eisai's FY2022, which ends March 31, 2023. +"Today's filing is an important milestone for people living with Alzheimer's disease, demonstrating the resilience of the scientific and medical communities in their fight against this terrible disease despite the many setbacks and the challenges they've faced," said Christopher A. Viehbacher, President and Chief Executive Officer of Biogen. "We commend Eisai for their leadership on the development of lecanemab and for the speed in which they were able to complete this filing, which is based on important new data from the pivotal late-stage Clarity AD study." +Eisai serves as the lead of LEQEMBI development and regulatory submissions globally with both Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority. +* Protofibrils are large Aβ aggregated soluble species of 75-500 Kd. 1, 2 +To learn more, visit www.LEQEMBI.com. +INDICATION, DOSAGE AND ADMINISTRATION, AND IMPORTANT SAFETY INFORMATION IN THE U.S +INDICATIONLEQEMBI is indicated for the treatment of Alzheimer's disease. Treatment with LEQEMBI should be initiated in patients with mild cognitive impairment or mild dementia stage of disease, the population in which treatment was initiated in clinical trials. There are no safety or effectiveness data on initiating treatment at earlier or later stages of the disease than were studied. This indication is approved under accelerated approval based on reduction in amyloid beta plaques observed in patients treated with LEQEMBI. Continued approval for this indication may be contingent upon verification of clinical benefit in a confirmatory trial. +IMPORTANT SAFETY INFORMATIONWARNINGS AND PRECAUTIONS +Amyloid Related Imaging Abnormalities +LEQEMBI can cause amyloid related imaging abnormalities-edema (ARIA-E) and -hemosiderin deposition (ARIA-H). ARIA-E can be observed on MRI as brain edema or sulcal effusions, and ARIA-H as microhemorrhage and superficial siderosis. ARIA is usually asymptomatic, although serious and life-threatening events, including seizure and status epilepticus, rarely can occur. Reported symptoms associated with ARIA may include headache, confusion, visual changes, dizziness, nausea, and gait difficulty. Focal neurologic deficits may also occur. Symptoms associated with ARIA usually resolve over time.ARIA Monitoring and Dose Management Guidelines +Obtain recent (within one year) brain magnetic resonance imaging (MRI) prior to initiating treatment with LEQEMBI. Obtain an MRI prior to the 5th, 7th, and 14th infusions.Recommendations for dosing in patients with ARIA-E and ARIA-H depend on clinical symptoms and radiographic severity. Depending on ARIA severity, use clinical judgment in considering whether to continue dosing, temporarily discontinue treatment, or permanently discontinue LEQEMBI.Enhanced clinical vigilance for ARIA is recommended during the first 14 weeks of treatment with LEQEMBI. If a patient experiences symptoms suggestive of ARIA, clinical evaluation should be performed, including MRI if indicated. If ARIA is observed on MRI, careful clinical evaluation should be performed prior to continuing treatment.There is no experience in patients who continued dosing through symptomatic ARIA-E or through asymptomatic, but radiographically severe, ARIA-E. There is limited experience in patients who continued dosing through asymptomatic but radiographically mild to moderate ARIA-E. There are limited data in dosing patients who experienced recurrent ARIA-E.Incidence of ARIA +In Study 1 (Study 201), symptomatic ARIA occurred in 3% (5/161) of LEQEMBI-treated patients. Clinical symptoms associated with ARIA resolved in 80% of patients during the period of observation.Including asymptomatic cases, ARIA was observed in LEQEMBI: 12% (20/161); placebo: 5% (13/245). ARIA-E was observed in LEQEMBI: 10% (16/161); placebo: 1% (2/245). ARIA-H was observed in LEQEMBI: 6% (10/161); placebo: 5% (12/245). There was no increase in isolated ARIA-H for LEQEMBI compared to placebo.Intracerebral hemorrhage >1 cm in diameter was reported after one treatment in LEQEMBI: 1 patient; placebo: zero patients. Events of intracerebral hemorrhage, including fatal events, in patients taking LEQEMBI have also been reported in other studies.Apolipoprotein E ε4 (ApoE ε4) Carrier Status and Risk of ARIA +In Study 1, 6% (10/161) of patients in the LEQEMBI group were ApoE ε4 homozygotes, 24% (39/161) were heterozygotes, and 70% (112/161) were noncarriers.The incidence of ARIA was higher in ApoE ε4 homozygotes than in heterozygotes and noncarriers among patients treated with LEQEMBI. Of the 5 LEQEMBI-treated patients who had symptomatic ARIA, 4 were ApoE ε4 homozygotes, 2 of whom experienced severe symptoms. An increased incidence of symptomatic and overall ARIA in ApoE ε4 homozygotes compared to heterozygotes and noncarriers in LEQEMBI-treated patients has been reported in other studies.The recommendations on management of ARIA do not differ between ApoE ε4 carriers and noncarriers.Consider testing for ApoE ε4 status to inform the risk of developing ARIA when deciding to initiate treatment with LEQEMBI.Radiographic Findings +The majority of ARIA-E radiographic events occurred early in treatment (within the first 7 doses), although ARIA can occur at any time and patients can have more than 1 episode. The maximum radiographic severity of ARIA-E in patients treated with LEQEMBI was mild in 4% (7/161) of patients, moderate in 4% (7/161) of patients, and severe in 1% (2/161) of patients. Resolution on MRI occurred in 62% of ARIA-E patients by 12 weeks, 81% by 21 weeks, and 94% overall after detection. The maximum radiographic severity of ARIA-H microhemorrhage in patients treated with LEQEMBI was mild in 4% (7/161) of patients and severe in 1% (2/161) of patients; of the 10 patients with ARIA-H had mild superficial siderosis.Concomitant Antithrombotic Medication and Other Risk Factors for Intracerebral Hemorrhage +Patients were excluded from enrollment in Study 1 for baseline use of anticoagulant medications. Antiplatelet medications such as aspirin and clopidogrel were allowed. If anticoagulant medication was used because of intercurrent medical events that required treatment for ≤4 weeks, treatment with LEQEMBI was to be temporarily suspended.Most exposures to antithrombotic medications were to aspirin; few patients were exposed to other antiplatelet drugs or anticoagulants, limiting any meaningful conclusions about the risk of ARIA or intracerebral hemorrhage in patients taking other antiplatelet drugs or anticoagulants. Because intracerebral hemorrhages >1 cm in diameter have been observed in patients taking LEQEMBI, additional caution should be exercised when considering the administration of antithrombotics or a thrombolytic agent (e.g., tissue plasminogen activator) to a patient already being treated with LEQEMBI.Patients were excluded from enrollment in Study 1 for the following risk factors for intracerebral hemorrhage: prior cerebral hemorrhage >1 cm in greatest diameter, more than microhemorrhages, superficial siderosis, evidence of vasogenic edema, evidence of cerebral contusion, aneurysm, vascular malformation, infective lesions, multiple lacunar infarcts or stroke involving a major vascular territory, and severe small vessel or white matter disease. Caution should be exercised when considering the use of LEQEMBI in patients with these risk factors.Infusion-Related Reactions +Infusion-related reactions were observed in LEQEMBI: 20% (32/161); placebo: 3% (8/245), and the majority of cases in LEQEMBI-treated patients (88%, 28/32) occurred with the first infusion. All infusion-related reactions were mild (56%) or moderate (44%) in severity. Infusion-related reactions resulted in discontinuations in 2% (4/161) of patients treated with LEQEMBI. Symptoms of infusion-related reactions included fever and flu-like symptoms (chills, generalized aches, feeling shaky, and joint pain), nausea, vomiting, hypotension, hypertension, and oxygen desaturation.After the first infusion, 38% of LEQEMBI-treated patients had transient decreased lymphocyte counts to <0.9 x109/L compared to 2% on placebo, and 22% of LEQEMBI-treated patients had transient increased neutrophil counts to >7.9 x109/L compared to 1% on placebo.In the event of an infusion-related reaction, the infusion rate may be reduced, or the infusion may be discontinued, and appropriate therapy initiated as clinically indicated. Prophylactic treatment with antihistamines, acetaminophen, nonsteroidal anti-inflammatory drugs, or corticosteroids prior to future infusions may be considered.ADVERSE REACTIONS +In Study 1, 15% of LEQEMBI-treated patients, compared to 6% of placebo-treated patients, stopped study treatment because of an adverse reaction. The most common adverse reaction leading to discontinuation of LEQEMBI was infusion-related reactions that led to discontinuation in 2% (4/161) of patients treated with LEQEMBI compared to 1% (2/245) of patients on placebo.The most common adverse reactions reported in ≥5% of patients treated with LEQEMBI (N=161) and ≥2% higher than placebo (N=245) in Study 1 were infusion-related reactions (LEQEMBI: 20%; placebo: 3%), headache (LEQEMBI: 14%; placebo: 10%), ARIA-E (LEQEMBI: 10%; placebo: 1%), cough (LEQEMBI: 9%; placebo: 5%), and diarrhea (LEQEMBI: 8%; placebo: 5%).Please see full Prescribing Information. +Media Contacts: +Eisai Co., Ltd. +Public Relations Department +TEL: +81 (0)3-3817-5120 +  +Eisai Inc. (U.S.) +Libby Holman ++ 1-201-753-1945 +Libby_Holman@eisai.com +  +Eisai Europe, Ltd. +(Europe, Australia, New Zealand and Russia) +EMEA Communications Department +EMEA-comms@eisai.net ++44 (0) 786 601 1272 +Biogen Inc. +Natacha Gassenbach ++ 1-857-777-6573 +public.affairs@biogen.com  +Investor Contacts: +Eisai Co., Ltd. +Investor Relations Department +TEL: +81 (0) 3-3817-5122 +Biogen Inc. +Mike Hencke ++ 1-781-464-2442 +IR@biogen.com +Notes to Editors +1.  About LEQEMBITM (lecanemab-irmb)LEQEMBITM (lecanemab-irmb) is a humanized immunoglobulin gamma 1 (IgG1) monoclonal antibody that is directed against aggregated soluble ("protofibrils") and insoluble forms of amyloid-beta (Aβ). LEQEMBI is indicated for the treatment of Alzheimer's disease (AD) in the U.S. Treatment with LEQEMBI should be initiated in patients with mild cognitive impairment or mild dementia stage of disease, the population in which treatment was initiated in clinical trials. There are no safety or effectiveness data on initiating treatment at earlier or later stages of the disease than were studied. This indication is approved under accelerated approval based on reduction in Aβ plaques observed in patients treated with LEQEMBI. Continued approval for this indication may be contingent upon verification of clinical benefit in a confirmatory trial. +LEQEMBI is the result of a strategic research alliance between Eisai and BioArctic. Eisai has been initiated submission of data for the BLA to the National Medical Products Administration (NMPA) of China in December 2022. Eisai plans to file for marketing authorization applications of lecanemab in Japan and EU by the end of Eisai's FY2022. +Since July 2020, Eisai's Phase 3 clinical study (AHEAD 3-45) for individuals with preclinical AD, meaning they are clinically normal and have intermediate or elevated levels of amyloid in their brains, is ongoing. AHEAD 3-45 is conducted as a public-private partnership between the Alzheimer's Clinical Trial Consortium that provides the infrastructure for academic clinical trials in AD and related dementias in the U.S., funded by the National Institute on Aging, part of the National Institutes of Health, Eisai and Biogen. +The Tau NexGen clinical study for Dominantly Inherited AD (DIAD), that is conducted by Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU), led by Washington University School of Medicine in St. Louis, has been ongoing since January 2022. Eisai has completed a LEQEMBI subcutaneous bioavailability study, and subcutaneous dosing is currently being evaluated in the Clarity AD (Study 301) OLE. +2.  About Amyloid-Related Imaging Abnormalities (ARIA)ARIA is an important adverse event of amyloid-lowering therapies that is critical to monitor and manage during treatment. ARIA is most commonly seen as temporary swelling/effusion (ARIA-E) in areas of the brain that usually resolves over time. Some people may also have small spots of bleeding in or on the surface of the brain (ARIA-H) with the swelling. Although most people with ARIA-E do not have symptoms, some people may have symptoms such as headache, confusion, dizziness, vision changes and nausea. +3.  About the Collaboration between Eisai and Biogen for ADEisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally, with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority. +4.  About the Collaboration between Eisai and BioArctic for ADSince 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market LEQEMBI for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody LEQEMBI back-up was signed in May 2015. +5.  About Eisai Co., Ltd.Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this concept (also known as the human health care [hhc] concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of neurology and oncology. +In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), by working on various activities together with global partners. +For more information about Eisai, please visit www.eisai.com (for global headquarters: Eisai Co., Ltd.), and connect with us on Twitter @Eisai_SDGs. +6.  About BiogenAs pioneers in neuroscience, Biogen discovers, develops and delivers worldwide innovative therapies for people living with serious neurological diseases as well as related therapeutic adjacencies. One of the world's first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Sir Kenneth Murray, and Nobel Prize winners Walter Gilbert and Phillip Sharp. Today, Biogen has a leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, and developed the first and only approved treatment to address a defining pathology of Alzheimer's disease. Biogen is also commercializing biosimilars and focusing on advancing one of the industry's most diversified pipelines in neuroscience that will transform the standard of care for patients in several areas of high unmet need. +The company routinely posts information that may be important to investors on its website at www.biogen.com. To learn more, please visit www.biogen.com and Follow Biogen on social media – Twitter, LinkedIn, Facebook, YouTube. +Biogen Safe HarborThis news release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about the potential clinical effects of lecanemab; the potential benefits, safety and efficacy of lecanemab; potential regulatory discussions, submissions and approvals and the timing thereof; the treatment of Alzheimer's disease; the anticipated benefits and potential of Biogen's collaboration arrangements with Eisai; the potential of Biogen's commercial business and pipeline programs, including lecanemab; and risks and uncertainties associated with drug development and commercialization. These statements may be identified by words such as  "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "possible,"" "potential," "will," "would" and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical studies may not be indicative of full results or results from later stage or larger scale clinical studies and do not ensure regulatory approval. You should not place undue reliance on these statements or the scientific data presented. +These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including without limitation unexpected concerns that may arise from additional data, analysis or results obtained during clinical studies, including the Clarity AD clinical trial and AHEAD 3-45 study; the occurrence of adverse safety events; risks of unexpected costs or delays; the risk of other unexpected hurdles; regulatory submissions may take longer or be more difficult to complete than expected; regulatory authorities may require additional information or further studies, or may fail or refuse to approve or may delay approval of Biogen's drug candidates, including lecanemab; actual timing and content of submissions to and decisions made by the regulatory authorities regarding lecanemab; uncertainty of success in the development and potential commercialization of lecanemab; failure to protect and enforce Biogen's data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; product liability claims; third party collaboration risks; and the direct and indirect impacts of the ongoing COVID-19 pandemic on Biogen's business, results of operations and financial condition. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Biogen's expectations in any forward-looking statement. Investors should consider this cautionary statement as well as the risk factors identified in Biogen's most recent annual or quarterly report and in other reports Biogen has filed with the U.S. Securities and Exchange Commission. These statements are based on Biogen's current beliefs and expectations and speak only as of the date of this news release. Biogen does not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise. +References +"Lecanemab Sweeps up Toxic AΒ Protofibrils, Catches Eyes of Trialists." ALZFORUM, ALZFORUM, 21 Nov. 2021, https://www.alzforum.org/news/conference-coverage/lecanemab-sweeps-toxic-av-protofibrils-catches-eyes-trialists.Sehlin D, Englund H, Simu B, Karlsson M, Ingelsson M, Nikolajeff F, Lannfelt L, Pettersson FE. Large aggregates are the major soluble Aβ species in AD brain fractionated with density gradient ultracentrifugation. PLoS One. 2012;7(2): e32014. doi: 10.1371/journal.pone.0032014. Epub 2012 Feb 15. PMID: 22355408; PMCID: PMC3280222.  +  +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/eisai-submits-supplemental-biologics-license-application-to-fda-for-traditional-approval-of-leqembi-lecanemab-irmb-for-the-treatment-of-alzheimers-disease-301715905.html +SOURCE Eisai Inc. + + diff --git a/news/BIIB/2023.01.06/Eisai files for full FDA approval for Alzheimer's drug Leqembi.txt b/news/BIIB/2023.01.06/Eisai files for full FDA approval for Alzheimer's drug Leqembi.txt new file mode 100644 index 0000000000000000000000000000000000000000..1a5b66da4dc83a8da905469262332801d3d61c23 --- /dev/null +++ b/news/BIIB/2023.01.06/Eisai files for full FDA approval for Alzheimer's drug Leqembi.txt @@ -0,0 +1 @@ + (Reporting by Bhanvi Satija in Bengaluru; Editing by William Mallard) \ No newline at end of file diff --git a/news/BIIB/2023.01.06/Eisai says new Alzheimer's drug to cost $26,500 annually.txt b/news/BIIB/2023.01.06/Eisai says new Alzheimer's drug to cost $26,500 annually.txt new file mode 100644 index 0000000000000000000000000000000000000000..6326a5d4b82485f9c68523bc91acbf0126943f8a --- /dev/null +++ b/news/BIIB/2023.01.06/Eisai says new Alzheimer's drug to cost $26,500 annually.txt @@ -0,0 +1,13 @@ +Jan 6 (Reuters) - Japanese drugmaker Eisai Co Ltd +said on Friday it had priced its newly approved +Alzheimer's disease drug called Leqembi at $26,500 a year.Eisai developed the drug with Biogen Inc.Wall Street analysts were expecting the drug to be priced at +roughly $20,000 per year, while William Blair analyst Myles +Minter late last year forecast a price closer to $28,000 given +its most recent data.The Institute for Clinical and Economic Review (ICER), a +drug pricing research group, said the treatment would be cost +effective if priced in the range of $8,500 to $20,600 a year.The U.S. Food and Drug Administration allowed use of the +drug, known chemically as lecanemab, via its accelerated +approval pathway in people with the early stages of the +brain-wasting disease. +(Reporting by Bhanvi Satija in Bengaluru; Editing by Bill +Berkrot) \ No newline at end of file diff --git "a/news/BIIB/2023.01.06/FDA Approves LEQEMBI\342\204\242 (lecanemab-irmb) Under the Accelerated Approval Pathway for...txt" "b/news/BIIB/2023.01.06/FDA Approves LEQEMBI\342\204\242 (lecanemab-irmb) Under the Accelerated Approval Pathway for...txt" new file mode 100644 index 0000000000000000000000000000000000000000..4ad0b7d3408b7619bc669721a5ab464b6794cdf2 --- /dev/null +++ "b/news/BIIB/2023.01.06/FDA Approves LEQEMBI\342\204\242 (lecanemab-irmb) Under the Accelerated Approval Pathway for...txt" @@ -0,0 +1,84 @@ + + +Accelerated Approval is based on Phase 2 data showing a reduction in amyloid-beta plaques in early AD patients treated with LEQEMBI™ +Treatment with LEQEMBI should be initiated in patients with mild cognitive impairment or mild dementia stage of disease, the population in which treatment was initiated in clinical trials +TOKYO and CAMBRIDGE, Mass., Jan. 6, 2023 /PRNewswire/ -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") and Biogen Inc. (Nasdaq: BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, "Biogen") announced today that under the Accelerated Approval Pathway the U.S. Food and Drug Administration (FDA) has approved lecanemab-irmb (Brand Name in the U.S.: LEQEMBI™) 100 mg/mL injection for intravenous use, a humanized immunoglobulin gamma 1 (IgG1) monoclonal antibody directed against aggregated soluble ("protofibril")* and insoluble forms of amyloid beta (Aβ) for the treatment of Alzheimer's disease (AD). The approval is based on Phase 2 data that demonstrated that LEQEMBI reduced the accumulation of Aβ plaque in the brain, a defining feature of AD. Using the recently published data from the large global confirmatory Phase 3 clinical trial, Clarity AD, Eisai will work quickly to file a Supplemental Biologics License Application (sBLA) to the FDA for approval under the traditional pathway. + + + + + + + +INDICATIONLEQEMBI is indicated for the treatment of Alzheimer's disease. Treatment with LEQEMBI should be initiated in patients with mild cognitive impairment or mild dementia stage of disease, the population in which treatment was initiated in clinical trials. There are no safety or effectiveness data on initiating treatment at earlier or later stages of the disease than were studied. This indication is approved under accelerated approval based on reduction in amyloid beta plaques observed in patients treated with LEQEMBI. Continued approval for this indication may be contingent upon verification of clinical benefit in a confirmatory trial. +DOSAGE AND ADMINISTRATION (Patient Selection, Dosing Instructions, Monitoring and Dosing Interruption for ARIA)The recommended dosage of LEQEMBI is 10 mg/kg administered intravenously once every two weeks to eligible patients with confirmed presence of Aβ pathology prior to initiating treatment. Enhanced clinical vigilance for amyloid-related imaging abnormalities (ARIA) is recommended during the first 14 weeks of treatment with LEQEMBI. Baseline, recent (within one year) brain MRI prior to initiating treatment with LEQEMBI and periodic monitoring with MRI prior to the 5th, 7th, and 14th infusions should be obtained. +ADVERSE REACTIONSThe safety of LEQEMBI has been evaluated in 763 patients who received at least one dose of LEQEMBI in Study 201. The most common adverse reactions reported in at least 5% of patients treated with LEQEMBI 10 mg/kg biweekly (N=161) and at least 2% higher incidence than patients on placebo (N=245) were infusion-related reactions (LEQEMBI 20%; placebo 3%), headache (LEQEMBI 14%; placebo 10%), ARIA-E (LEQEMBI 10%; placebo 1%), cough (LEQEMBI, 9%; placebo, 5%) and diarrhea (LEQEMBI, 8%; placebo, 5%). The most common adverse reaction leading to discontinuation of LEQEMBI was infusion-related reactions that led to discontinuation in 2% (4/161) of patients treated with LEQEMBI compared to 1% (2/245) of patients on placebo. +CONCOMITANT ANTITHROMBOTIC MEDICATION AND OTHER RISK FACTORS FOR INTRACEREBRAL HEMORRHAGEPatients were excluded from enrollment in Study 201 for baseline use of anticoagulant medications. Antiplatelet medications such as aspirin and clopidogrel were allowed. Patients who received LEQEMBI and an antithrombotic medication (aspirin, other antiplatelets, or anticoagulants) did not have an increased risk of ARIA-H compared to patients who received placebo and an antithrombotic medication. The majority of exposures to antithrombotic medications were to aspirin; few patients were exposed to other antiplatelet drugs or anticoagulants, limiting any meaningful conclusions about the risk of ARIA or intracerebral hemorrhage in patients taking other antiplatelet drugs or anticoagulants. Because intracerebral hemorrhages greater than 1 cm in diameter have been observed in patients taking LEQEMBI, additional caution should be exercised when considering the administration of antithrombotics or a thrombolytic agent (e.g., tissue plasminogen activator) to a patient already being treated with LEQEMBI. Additionally, patients were excluded from enrollment in Study 201 for the following risk factors for intracerebral hemorrhage: prior cerebral hemorrhage greater than 1 cm in greatest diameter, more than 4 microhemorrhages, superficial siderosis, evidence of vasogenic edema, evidence of cerebral contusion, aneurysm, vascular malformation, infective lesions, multiple lacunar infarcts or stroke involving a major vascular territory, and severe small vessel or white matter disease. Caution should be exercised when considering the use of LEQEMBI in patients with these risk factors. +"The FDA's approval of LEQEMBI under the Accelerated Approval pathway is an important milestone in Eisai's four decades of research in Alzheimer's disease and reflects our continued commitment to alleviating the burden of Alzheimer's disease for patients and their families. Eisai has made great efforts to understand the reality of the challenges and concerns facing patients and their families who are living in the various stages of Alzheimer's disease, and we are incredibly pleased to offer LEQEMBI as a new treatment option to help with the tremendous unmet needs of this community," said Haruo Naito, Chief Executive Officer at Eisai Co., Ltd. "The challenges of Alzheimer's disease reach beyond medical implications for patients and considerations for their families, but also impact society as a whole through reduced productivity, elevated social costs and anxiety. Upon receiving this Accelerated Approval, we will focus on providing important information on proper usage of LEQEMBI to healthcare professionals. Eisai will also engage with various payers to provide access to LEQEMBI, offer a patient support program, and will do its utmost to complete submission for traditional approval as soon as possible to serve more people living with early Alzheimer's disease." +"The approval of LEQEMBI provides new hope to patients with Alzheimer's disease. Patients at an early stage of the disease and their caregivers can now consider a new treatment option with their doctors. Our focus now is on the path forward, working alongside Eisai with the goal of making LEQEMBI available to patients who may benefit from this treatment as soon as possible," said Christopher A. Viehbacher, President and Chief Executive Officer of Biogen. "This approval is also a recognition of the many scientists and doctors who have, over many years, patiently and persistently worked to find a treatment for this highly complex disease. Eisai and Biogen have collaborated for nearly a decade to advance research to improve the lives of those suffering from Alzheimer's, and we know that this commitment must and will continue in the fight against Alzheimer's disease." +LEQEMBI's ACCESS AND INITIATIVES TO SUPPORT PEOPLE LIVING WITH ADThe Eisai Patient Support Program offers several support programs to help patients and care partners. Dedicated Patient Navigators will work directly with patients and families to navigate treatment and coverage for eligible and appropriate patients and to help with what to expect regarding insurance coverage, co-pay and patient access programs. To learn more visit LEQEMBI.com, call 1-833-4-LEQEMBI (1-833-453-7362), Monday-Friday, 8 a.m. to 8 p.m. Eastern Time or fax to 1-833-770-7017. +In addition, to support access to LEQEMBI for certain financially disadvantaged patients, Eisai's Patient Assistance Program (PAP) will provide LEQEMBI at no cost, for eligible uninsured and underinsured patients, including Medicare beneficiaries, who meet financial need and other program criteria. +Eisai looks forward to continuing to engage constructively with various payors, including the Centers for Medicare and Medicaid (CMS), TRICARE, the U.S. Veteran's Health Administration and private health insurance companies to ensure appropriate beneficiaries have access to this new therapy. Currently, Medicare patients do not have access to LEQEMBI. Medicaid sole beneficiaries who are diagnosed by a healthcare professional with mild cognitive impairment or mild dementia stage of disease, and with confirmed presence of amyloid plaque in the brain will have access to LEQEMBI under the Medicaid program post accelerated approval, depending on individual state processes. +Eisai is developing a multi-faceted educational initiative to further advance the understanding in the AD healthcare community of the real-world management and monitoring of ARIA. This initiative, Understanding ARIA™, will provide resources and programs that will include peer-to-peer education, individual and group educational sessions and subject-matter-expert evaluation of historical case studies. Understanding ARIA will include engagements with leading experts in medical imaging as well as major professional societies. Initial resources will be available by January 2023.  +LEQEMBI will be available during or before the week of January 23, 2023. Eisai announced the U.S. pricing and rationale for LEQEMBI today. +Eisai serves as the lead of LEQEMBI development and regulatory submissions globally with both Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority. +*Protofibrils are large Aβ aggregated soluble species of 75-500 Kd. 1, 2  +INDICATION, DOSAGE AND ADMINISTRATION, AND IMPORTANT SAFETY INFORMATION IN THE U.S. +INDICATIONLEQEMBI is indicated for the treatment of Alzheimer's disease. Treatment with LEQEMBI should be initiated in patients with mild cognitive impairment or mild dementia stage of disease, the population in which treatment was initiated in clinical trials. There are no safety or effectiveness data on initiating treatment at earlier or later stages of the disease than were studied. This indication is approved under accelerated approval based on reduction in amyloid beta plaques observed in patients treated with LEQEMBI. Continued approval for this indication may be contingent upon verification of clinical benefit in a confirmatory trial. +IMPORTANT SAFETY INFORMATIONWARNINGS AND PRECAUTIONS +Amyloid Related Imaging Abnormalities +LEQEMBI can cause amyloid related imaging abnormalities-edema (ARIA-E) and -hemosiderin deposition (ARIA-H). ARIA-E can be observed on MRI as brain edema or sulcal effusions, and ARIA-H as microhemorrhage and superficial siderosis. ARIA is usually asymptomatic, although serious and life-threatening events, including seizure and status epilepticus, rarely can occur. Reported symptoms associated with ARIA may include headache, confusion, visual changes, dizziness, nausea, and gait difficulty. Focal neurologic deficits may also occur. Symptoms associated with ARIA usually resolve over time.ARIA Monitoring and Dose Management Guidelines +Obtain recent (within one year) brain magnetic resonance imaging (MRI) prior to initiating treatment with LEQEMBI. Obtain an MRI prior to the 5th, 7th, and 14th infusions.Recommendations for dosing in patients with ARIA-E and ARIA-H depend on clinical symptoms and radiographic severity. Depending on ARIA severity, use clinical judgment in considering whether to continue dosing, temporarily discontinue treatment, or permanently discontinue LEQEMBI.Enhanced clinical vigilance for ARIA is recommended during the first 14 weeks of treatment with LEQEMBI. If a patient experiences symptoms suggestive of ARIA, clinical evaluation should be performed, including MRI if indicated. If ARIA is observed on MRI, careful clinical evaluation should be performed prior to continuing treatment.There is no experience in patients who continued dosing through symptomatic ARIA-E or through asymptomatic, but radiographically severe, ARIA-E. There is limited experience in patients who continued dosing through asymptomatic but radiographically mild to moderate ARIA-E. There are limited data in dosing patients who experienced recurrent ARIA-E.Incidence of ARIA +In Study 1 (Study 201), symptomatic ARIA occurred in 3% (5/161) of LEQEMBI-treated patients. Clinical symptoms associated with ARIA resolved in 80% of patients during the period of observation.Including asymptomatic cases, ARIA was observed in LEQEMBI: 12% (20/161); placebo: 5% (13/245). ARIA-E was observed in LEQEMBI: 10% (16/161); placebo: 1% (2/245). ARIA-H was observed in LEQEMBI: 6% (10/161); placebo: 5% (12/245). There was no increase in isolated ARIA-H for LEQEMBI compared to placebo.Intracerebral hemorrhage >1 cm in diameter was reported after one treatment in LEQEMBI: 1 patient; placebo: zero patients. Events of intracerebral hemorrhage, including fatal events, in patients taking LEQEMBI have also been reported in other studies.Apolipoprotein E ε4 (ApoE ε4) Carrier Status and Risk of ARIA +In Study 1, 6% (10/161) of patients in the LEQEMBI group were ApoE ε4 homozygotes, 24% (39/161) were heterozygotes, and 70% (112/161) were noncarriers.The incidence of ARIA was higher in ApoE ε4 homozygotes than in heterozygotes and noncarriers among patients treated with LEQEMBI. Of the 5 LEQEMBI-treated patients who had symptomatic ARIA, 4 were ApoE ε4 homozygotes, 2 of whom experienced severe symptoms. An increased incidence of symptomatic and overall ARIA in ApoE ε4 homozygotes compared to heterozygotes and noncarriers in LEQEMBI-treated patients has been reported in other studies.The recommendations on management of ARIA do not differ between ApoE ε4 carriers and noncarriers.Consider testing for ApoE ε4 status to inform the risk of developing ARIA when deciding to initiate treatment with LEQEMBI.Radiographic Findings +The majority of ARIA-E radiographic events occurred early in treatment (within the first 7 doses), although ARIA can occur at any time and patients can have more than 1 episode. The maximum radiographic severity of ARIA-E in patients treated with LEQEMBI was mild in 4% (7/161) of patients, moderate in 4% (7/161) of patients, and severe in 1% (2/161) of patients. Resolution on MRI occurred in 62% of ARIA-E patients by 12 weeks, 81% by 21 weeks, and 94% overall after detection. The maximum radiographic severity of ARIA-H microhemorrhage in patients treated with LEQEMBI was mild in 4% (7/161) of patients and severe in 1% (2/161) of patients; 1 of the 10 patients with ARIA-H had mild superficial siderosis.Concomitant Antithrombotic Medication and Other Risk Factors for Intracerebral Hemorrhage +Patients were excluded from enrollment in Study 1 for baseline use of anticoagulant medications. Antiplatelet medications such as aspirin and clopidogrel were allowed. If anticoagulant medication was used because of intercurrent medical events that required treatment for ≤4 weeks, treatment with LEQEMBI was to be temporarily suspended.Most exposures to antithrombotic medications were to aspirin; few patients were exposed to other antiplatelet drugs or anticoagulants, limiting any meaningful conclusions about the risk of ARIA or intracerebral hemorrhage in patients taking other antiplatelet drugs or anticoagulants. Because intracerebral hemorrhages >1 cm in diameter have been observed in patients taking LEQEMBI, additional caution should be exercised when considering the administration of antithrombotics or a thrombolytic agent (e.g., tissue plasminogen activator) to a patient already being treated with LEQEMBI.Patients were excluded from enrollment in Study 1 for the following risk factors for intracerebral hemorrhage: prior cerebral hemorrhage >1 cm in greatest diameter, more than 4 microhemorrhages, superficial siderosis, evidence of vasogenic edema, evidence of cerebral contusion, aneurysm, vascular malformation, infective lesions, multiple lacunar infarcts or stroke involving a major vascular territory, and severe small vessel or white matter disease. Caution should be exercised when considering the use of LEQEMBI in patients with these risk factors.Infusion-Related Reactions +Infusion-related reactions were observed in LEQEMBI: 20% (32/161); placebo: 3% (8/245), and the majority of cases in LEQEMBI-treated patients (88%, 28/32) occurred with the first infusion. All infusion-related reactions were mild (56%) or moderate (44%) in severity. Infusion-related reactions resulted in discontinuations in 2% (4/161) of patients treated with LEQEMBI. Symptoms of infusion-related reactions included fever and flu-like symptoms (chills, generalized aches, feeling shaky, and joint pain), nausea, vomiting, hypotension, hypertension, and oxygen desaturation.After the first infusion, 38% of LEQEMBI-treated patients had transient decreased lymphocyte counts to <0.9 x109/L compared to 2% on placebo, and 22% of LEQEMBI-treated patients had transient increased neutrophil counts to >7.9 x109/L compared to 1% on placebo.In the event of an infusion-related reaction, the infusion rate may be reduced, or the infusion may be discontinued, and appropriate therapy initiated as clinically indicated. Prophylactic treatment with antihistamines, acetaminophen, nonsteroidal anti-inflammatory drugs, or corticosteroids prior to future infusions may be considered.ADVERSE REACTIONS +In Study 201, 15% of LEQEMBI-treated patients, compared to 6% of placebo-treated patients, stopped study treatment because of an adverse reaction. The most common adverse reaction leading to discontinuation of LEQEMBI was infusion-related reactions that led to discontinuation in 2% (4/161) of patients treated with LEQEMBI compared to 1% (2/245) of patients on placebo.The most common adverse reactions reported in ≥5% of patients treated with LEQEMBI (N=161) and ≥2% higher than placebo (N=245) in Study 1 were infusion-related reactions (LEQEMBI: 20%; placebo: 3%), headache (LEQEMBI: 14%; placebo: 10%), ARIA-E (LEQEMBI: 10%; placebo: 1%), cough (LEQEMBI: 9%; placebo: 5%), and diarrhea (LEQEMBI: 8%; placebo: 5%).Please see full Prescribing Information. +Media Contacts: +Eisai Co., Ltd. +Biogen Inc. +Public Relations Department +Natacha Gassenbach +TEL: +81 (0)3-3817-5120 ++ 1-857-777-6573 +public.affairs@biogen.com +Eisai Inc. (U.S.) +Libby Holman ++ 1-201-753-1945 +Libby_Holman@eisai.com +Eisai Europe, Ltd. +(UK, Europe, Australia, New Zealand and Russia)  +EMEA Communications Department ++44 (0) 786 601 1272 +EMEA-comms@eisai.net +Investor Contacts: +Eisai Co., Ltd. +Biogen Inc. +Investor Relations Department +Mike Hencke +TEL: +81 (0) 3-3817-5122 ++ 1-781-464-2442 +IR@biogen.com  +Notes to Editors +1.  About LEQEMBITM (lecanemab-irmb)LEQEMBITM (lecanemab-irmb) is a humanized immunoglobulin gamma 1 (IgG1) monoclonal antibody directed against aggregated soluble (protofibril) and insoluble forms of amyloid-beta (Aβ). LEQEMBI is indicated for the treatment of Alzheimer's disease (AD) in the U.S. This indication is approved under accelerated approval based on reduction in Aβ plaques observed in patients treated with LEQEMBI. Continued approval for this indication may be contingent upon verification of clinical benefit in a confirmatory trial. +LEQEMBI is the result of a strategic research alliance between Eisai and BioArctic. Eisai has been initiated submission of data for BLA to the National Medical Products Administration (NMPA) of China in December 2022. Eisai plans to file for marketing authorization applications of lecanemab in Japan and Europe by the end of Eisai's FY2022. +Since July 2020 Eisai's Phase 3 clinical study (AHEAD 3-45) for individuals with preclinical AD, meaning they are clinically normal and have intermediate or elevated levels of amyloid in their brains, is ongoing. AHEAD 3-45 is conducted as a public-private partnership between the Alzheimer's Clinical Trial Consortium that provides the infrastructure for academic clinical trials in AD and related dementias in the U.S, funded by the National Institute on Aging, part of the National Institutes of Health, Eisai and Biogen. +Since January 2022, the Tau NexGen clinical study for Dominantly Inherited AD (DIAD), that is conducted by Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU), led by Washington University School of Medicine in St. Louis, is ongoing. Eisai has completed a LEQEMBI subcutaneous bioavailability study, and subcutaneous dosing is currently being evaluated in the Clarity AD (Study 301) OLE. +2.  About Amyloid-Related Imaging Abnormalities (ARIA)ARIA is an important adverse event of amyloid-lowering therapies that is critical to monitor and manage during treatment. ARIA is most commonly seen as temporary swelling/effusion (ARIA-E) in areas of the brain that usually resolves over time. Some people may also have small spots of bleeding in or on the surface of the brain (ARIA-H) with the swelling. Although most people with ARIA-E do not have symptoms, some people may have symptoms such as headache, confusion, dizziness, vision changes and nausea. +3.  About the Collaboration between Eisai and Biogen for ADEisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of LEQEMBI development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority. +4.  About the Collaboration between Eisai and BioArctic for ADSince 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market LEQEMBI for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody LEQEMBI back-up was signed in May 2015. +5.  About Eisai Co., Ltd.Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care (hhc) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology. +In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), by working on various activities together with global partners. +For more information about Eisai, please visit www.eisai.com (for global headquarters: Eisai Co., Ltd.), and connect with us on Twitter @Eisai_SDGs. +6.  About BiogenAs pioneers in neuroscience, Biogen discovers, develops and delivers worldwide innovative therapies for people living with serious neurological diseases as well as related therapeutic adjacencies. One of the world's first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Sir Kenneth Murray, and Nobel Prize winners Walter Gilbert and Phillip Sharp. Today, Biogen has a leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, and developed the first approved treatment to address a defining pathology of Alzheimer's disease. Biogen is also commercializing biosimilars and focusing on advancing one of the industry's most diversified pipelines in neuroscience that will transform the standard of care for patients in several areas of high unmet need. +The company routinely posts information that may be important to investors on its website at www.biogen.com. To learn more, please visit www.biogen.com and Follow Biogen on social media – Twitter, LinkedIn, Facebook, YouTube. +Biogen Safe HarborThis news release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about the potential clinical effects of lecanemab; the potential benefits, safety and efficacy of lecanemab; potential regulatory discussions, submissions and approvals and the timing thereof; the treatment of Alzheimer's disease; the anticipated benefits and potential of Biogen's collaboration arrangements with Eisai; the potential of Biogen's commercial business and pipeline programs, including lecanemab; and risks and uncertainties associated with drug development and commercialization. These statements may be identified by words such as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "possible," "potential," "will," "would" and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical studies may not be indicative of full results or results from later stage or larger scale clinical studies and do not ensure regulatory approval. You should not place undue reliance on these statements or the scientific data presented. +These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including without limitation unexpected concerns that may arise from additional data, analysis or results obtained during clinical studies, including the Clarity AD clinical trial and AHEAD 3-45 study; the occurrence of adverse safety events; risks of unexpected costs or delays; the risk of other unexpected hurdles; regulatory submissions may take longer or be more difficult to complete than expected; regulatory authorities may require additional information or further studies, or may fail or refuse to approve or may delay approval of Biogen's drug candidates, including lecanemab; actual timing and content of submissions to and decisions made by the regulatory authorities regarding lecanemab; uncertainty of success in the development and potential commercialization of lecanemab; failure to protect and enforce Biogen's data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; product liability claims; third party collaboration risks; and the direct and indirect impacts of the ongoing COVID-19 pandemic on Biogen's business, results of operations and financial condition. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Biogen's expectations in any forward-looking statement. Investors should consider this cautionary statement as well as the risk factors identified in Biogen's most recent annual or quarterly report and in other reports Biogen has filed with the U.S. Securities and Exchange Commission. These statements are based on Biogen's current beliefs and expectations and speak only as of the date of this news release. Biogen does not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise. +References1.  https://www.alzforum.org/news/conference-coverage/lecanemab-sweeps-toxic-av-protofibrils-catches-eyes-trialists2.  Sehlin D, Englund H, Simu B, Karlsson M, Ingelsson M, Nikolajeff F, Lannfelt L, Pettersson FE. Large aggregates are the major soluble Aβ species in AD brain fractionated with density gradient ultracentrifugation. PLoS One. 2012;7(2):e32014. doi: 10.1371/journal.pone.0032014. Epub 2012 Feb 15. PMID: 22355408; PMCID: PMC3280222. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/fda-approves-leqembi-lecanemab-irmb-under-the-accelerated-approval-pathway-for-the-treatment-of-alzheimers-disease-301715691.html +SOURCE Eisai Inc. + + diff --git a/news/BIIB/2023.01.06/Factbox-Who can get the newly approved Eisai and Biogen Alzheimer's drug?.txt b/news/BIIB/2023.01.06/Factbox-Who can get the newly approved Eisai and Biogen Alzheimer's drug?.txt new file mode 100644 index 0000000000000000000000000000000000000000..64ad4cd70e84662ab837261504031b6988d00e38 --- /dev/null +++ b/news/BIIB/2023.01.06/Factbox-Who can get the newly approved Eisai and Biogen Alzheimer's drug?.txt @@ -0,0 +1 @@ +Like their earlier Alzheimer's drug Aduhelm, lecanemab, to be sold under the brand name Leqembi, belongs to a class of treatments that aim to slow disease progression by removing sticky clumps of the toxic protein beta amyloid from the brain.Here's what we know about access to the drug so far:PATIENT POPULATION Leqembi was approved for patients with Alzheimer's disease, and is recommended for use in people with mild cognitive impairment or early Alzheimer's - the same population in which the drug was tested. To qualify for treatment, patients will need to have a special diagnostic test - either a PET scan of the brain or spinal tap - to confirm the presence of amyloid in the brain.MEDICARE COVERAGEThe companies said the drug would be available to patients during or before the week of Jan. 23. However, most patients will have to pay out of pocket for the drug, which costs $26,500 a year, as insurance coverage will be limited. The U.S. Centers for Medicare & Medicaid Services (CMS) said Leqembi falls under its current policy severely limiting coverage of amyloid-lowering drugs to people enrolled in an approved clinical trial if the drug has gone through the FDA's accelerated approval process. CMS, which runs the national Medicare healthcare plan for those age 65 and older, said in a statement it is currently reviewing all available data and "may reconsider" its coverage decision. The agency added that it would provide broader coverage if the drug receives standard FDA approval. The companies said they intend to apply for full approval shortly. "Given the data behind lecanemab, there is a case that Eisai can make for CMS reimbursement for the drug," said BMO analyst Evan Seigerman, adding that the drugmaker will need to negotiate with the agency.SAFETYThe drug comes with a requirement that patients undergo four MRI scans over the course of 14 weeks to check for signs of Amyloid Related Imaging Abnormalities or "ARIA," a type of temporary brain swelling that is frequently seen with drugs that remove amyloid from the brain.In some patients, this type of brain swelling has led to hemorrhages. Because of that, Leqembi's label urges doctors to warn patients of this risk, especially if patients are already taking blood thinners.The label urges doctors to be especially careful in giving the clot-busting stroke treatment known as a tissue plasminogen activator, or t-PA, to patients taking Leqembi, saying it can increase the risk of bleeding in the brain.Because of this risk, some physicians have said they would not recommend Leqembi for patients on blood thinners. (Reporting by Bhanvi Satija and Raghav Mahobe in Bengaluru and Julie Steenhuysen in Chicago; editing by Caroline Humer and Bill Berkrot) \ No newline at end of file diff --git a/news/BIIB/2023.01.06/U.S. FDA approves Eisai, Biogen's Alzheimer's drug.txt b/news/BIIB/2023.01.06/U.S. FDA approves Eisai, Biogen's Alzheimer's drug.txt new file mode 100644 index 0000000000000000000000000000000000000000..09a8c05a21b04b014bc821965cc8953fcb02c6ea --- /dev/null +++ b/news/BIIB/2023.01.06/U.S. FDA approves Eisai, Biogen's Alzheimer's drug.txt @@ -0,0 +1 @@ +The drug, to be sold under the brand Leqembi, belongs to a class of treatments that aims to slow the advance of the neurodegenerative disease by removing sticky clumps of the toxic brain protein known as beta amyloid. Nearly all previous experimental drugs using the same approach had failed.Initial access to the drug likely will be limited by a number of factors including reimbursement decisions from Medicare, the U.S. government insurance program for Americans aged 65 and older who represent some 90% of individuals likely to be eligible for Leqembi. (Reporting by Deena Beasley in Los Angeles and Bhanvi Satija in Bengaluru; Editing by Bill Berkrot) \ No newline at end of file diff --git a/news/BIIB/2023.01.06/U.S. FDA approves experimental Alzheimer's drug.txt b/news/BIIB/2023.01.06/U.S. FDA approves experimental Alzheimer's drug.txt new file mode 100644 index 0000000000000000000000000000000000000000..e3595ca59ffa86fcb250b274794c56cf589ec303 --- /dev/null +++ b/news/BIIB/2023.01.06/U.S. FDA approves experimental Alzheimer's drug.txt @@ -0,0 +1 @@ +Developed by Eisai and Biogen, the drug is called lecanemab and will be marketed under the brand Leqembi.It's intended for patients in the early stages of Alzheimers, in the hopes it can remove sticky clumps of what's called beta amyloid from the brain.Thomas Wisniewski is the director of the Alzheimer's Research Center at NYU Langone."Amyloid beta is a protein that accumulates in Alzheimer's disease, and it specifically forms aggregates. And those aggregates are toxic to neurons, that is brain cells, and it causes neuronal dysfunction and death that correlates with the cognitive symptoms of Alzheimer's disease, dementia."Nearly all previous experimental drugs following the same approach have so far failed.An Eisai trial found that the drug slowed the rate of cognitive decline in patients with early Alzheimer's by 27% compared to a placebo. But nearly 13% of patients treated with Leqembi in the trial had brain swelling."This form of therapy is not without risks, but in the present data, it looks like the risks are greatly outweighed by the potential benefits. But nevertheless, the treatment would need to be closely monitored with the clinician who's familiar with this type of therapeutic approach."Eisai said the drug would launch at an annual price of $26,500.Leqembi was approved under the FDA's accelerated review process, an expedited pathway that speeds access to a drug based on its impact on underlying disease-related biomarkers believed to predict a clinical benefit. \ No newline at end of file diff --git a/news/BIIB/2023.01.06/U.S. regulators OK Alzheimer's drug developed by Japan's Eisai.txt b/news/BIIB/2023.01.06/U.S. regulators OK Alzheimer's drug developed by Japan's Eisai.txt new file mode 100644 index 0000000000000000000000000000000000000000..459c91aa2620623ca0da860ac9cd81c0d2f2ecc1 --- /dev/null +++ b/news/BIIB/2023.01.06/U.S. regulators OK Alzheimer's drug developed by Japan's Eisai.txt @@ -0,0 +1 @@ +U.S. regulators on Friday approved an Alzheimer's drug developed by Japanese drug maker Eisai Co. and U.S. firm Biogen Inc. for treatment in the early stage of the fatal, brain-robbing disease.The new drug, lecanemab, removes a type of protein called amyloid beta, considered the cause of the disease. The U.S. Food and Drug Administration granted fast-track approval to the drug as it awaits further data to confirm the treatment's clinical benefits, a step paving the way for full-fledged approval.The drug will cost $26,500 annually, according to Eisai, adding that the price tag has been set with the aim of promoting broader patient access and reducing the overall financial burden.The FDA welcomed the "important advancement in the ongoing fight to effectively treat Alzheimer's disease," saying that the treatment option is the latest therapy to target and affect the underlying disease process of Alzheimer's, instead of only treating the symptoms of the disease.The treatment with lecanemab is intended to be initiated in patients with mild cognitive impairment or the mild dementia stage.While the FDA's accelerated approval was based on the observed reduction of amyloid beta, further study has showed that lecanemab curbed the progression of symptoms, such as worsening memory and impairment in judgment, by 27 percent compared with a placebo, according to Eisai.The additional data will be submitted to the FDA "very shortly" for review for traditional approval, the Japanese company said.Eisai is seeking to apply for approval of the drug also in Japan by March.In 2021, a panel at Japan's health ministry refused to approve aducanumab, another Alzheimer's disease drug jointly developed by Eisai and Biogen. The drug, however, was approved by the FDA the same year.==Kyodo© Kyodo News International, Inc., source Newswire \ No newline at end of file diff --git a/news/BIIB/2023.01.06/Wall St rallies as jobs, services data calm rate hike worries.txt b/news/BIIB/2023.01.06/Wall St rallies as jobs, services data calm rate hike worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..8fc508538eb00970f764f008b9170223875dcff3 --- /dev/null +++ b/news/BIIB/2023.01.06/Wall St rallies as jobs, services data calm rate hike worries.txt @@ -0,0 +1,65 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*U.S. December payrolls up 223,000 vs est 200,000*Dec. non-manufacturing PMI 49.6 vs November's 56.5 read*Biogen closes higher as FDA approves Alzheimer's drug*Indexes up: Dow 2.13%, S&P 2.28%, Nasdaq 2.56%Jan 6 (Reuters) - Wall Street's main indexes all gained +more than 2% on Friday after December payrolls expanded more +than expected even as wage increases slowed and services +activity contracted, easing worries about the Federal Reserve's +interest rate hiking path.U.S. nonfarm payrolls rose by 223,000 jobs in December, +Labor Department data showed, while a 0.3% rise in average +earnings was smaller than expected and less than the previous +month's 0.4%.In another set of data, U.S. services activity declined for +the first time in more than 2-1/2 years in December as demand +weakened, with more signs of inflation easing."We got good news on the inflation front with wage gains +that are slowing. We got participation rates pick up again and +yet we're still creating jobs. It's a kind of a win-win for the +economy. And on the other side the ISM services report was +really weak and broadly weak," said Megan Horneman, chief +investment officer at Verdence Capital Management in Hunt +Valley, Maryland."That's basically making people think the Fed is nearing the +end of what's been one of the most aggressive tightening cycles +we've seen in decades. That's why the markets are taking off."By 4:23 p.m. ET, the Dow Jones Industrial Average +rose 700.53 points, or 2.13%, to 33,630.61; the S&P 500 +gained 86.98 points, or 2.28%, at 3,895.08; and the Nasdaq +Composite added 264.05 points, or 2.56%, at 10,569.29.Friday's rally boosted the benchmark S&P and the Nasdaq +enough to snap four weeks of declines. For the holiday-shortened +week, the S&P rose 1.45% while the Nasdaq added 0.98% and the +Dow advanced by 1.46%.For the gains, John Augustine, chief investment officer +at Huntington National Bank in Columbus, Ohio, pointed to a +calming of anxiety that the Fed would raise rates so much that +it causes a recession."Today's reports may alleviate that pressure to force a +recession. They may already have slowed down the economy enough. +They just need validation from inflation reports."Still the Fed last month projected an a interest rate target +peak of around 5% and said it would keep rates high until +inflation is where it wants it to be.Fed officials on Friday acknowledged cooling wage growth and +other signs of a gradually slowing economy, with Atlanta +President Raphael Bostic hinting at the chance of a quarter +percentage point hike at the next policy meeting.But Huntington's Augustine said the central bank needs to +see further slowing of price increases in the December inflation +report, due out on Thursday, before deciding whether to slow its +next rate hike. It raised rates 50 basis points in December.Also next week several of the biggest U.S. banks +including JPMorgan and Bank of America will kick +off the fourth-quarter earnings season on Friday."That's the part of the puzzle people haven't been able to +figure out. How much should earnings estimates be cut for the +calendar year or have they been cut enough?" said Horneman at +Verdence.All the major S&P 500 indexes gained with materials' +3.44% increase leading the pack. Interest-rate +sensitive technology was next with a 2.99% gain.The weakest sector was healthcare, which rose +0.89% followed by energy's 1.68% increase.Consumer staples was boosted by Costco +Wholesale Corp, whose shares jumped 7% after the +membership-only retailer reported strong December sales growth.Shares in Biogen Inc closed up 2.8% after the U.S. +Food and Drug Administration on Friday approved the Alzheimer's +drug lecanemab developed by Eisai Co Ltd and Biogen for +patients in the earliest stages of the disease. Eisai's U.S. +shares closed up 4% at $64.20.Pfizer Inc shares advanced 2.5% after reports of +talks with China to secure a license that will allow domestic +drugmakers to manufacture and distribute a generic version of +the U.S. company's COVID-19 antiviral drug Paxlovid in China.Bed Bath & Beyond Inc tumbled 22% after Reuters +reported that the home goods retailer was preparing to seek +bankruptcy protection in coming weeks.Advancing issues outnumbered decliners on the NYSE by a +6.69-to-1 ratio; on Nasdaq, a 2.59-to-1 ratio favored advancers.The S&P 500 posted 18 new 52-week highs and five new +lows; the Nasdaq Composite recorded 97 new highs and 65 new +lows.On U.S. exchanges 11.15 billion shares changed hands +compared with the 10.84 billion average for the full session +over the last 20 trading days. +(Reporting by Shubham Batra, Ankika Biswas and Shashwat Chauhan +in Bengaluru; Editing by Shounak Dasgupta, Arun Koyyur and +Richard Chang) \ No newline at end of file diff --git a/news/BIIB/2023.01.07/Reuters-schedule.txt b/news/BIIB/2023.01.07/Reuters-schedule.txt new file mode 100644 index 0000000000000000000000000000000000000000..1667a8d099522435333f9af5ed817000041b563c --- /dev/null +++ b/news/BIIB/2023.01.07/Reuters-schedule.txt @@ -0,0 +1,46 @@ +Here are the top stories and upcoming coverage plans for Reuters +text service as of 10 a.m. GMT/6 a.m. ET. For a full schedule of +news and events, go to our editorial calendar on Reuters +Connect.TOP STORIESGLOBALHEALTH-CORONAVIRUS/CHINAChina's 'great migration' kicks-off under shadow of COVIDSHANGHAI, Jan 7 (Reuters) - China on Saturday marked the +first day of "chun yun", the 40-day period of Lunar New Year +travel known pre-pandemic as the world's largest annual +migration of people, bracing for a huge increase in travellers +and the spread of COVID-19 infections.IRAN-WOMEN/EXECUTIONIran hangs two men accused of killing security official +during protestsJan 7 (Reuters) - Iran hanged two men on Saturday for +allegedly killing a security official during nationwide protests +that followed the death of 22-year-old Kurdish Iranian woman +Mahsa Amini on Sept. 16.U.S.USA-CONGRESSKevin McCarthy elected Republican U.S. House speaker, +but at a costWASHINGTON, Jan 7 (Reuters) - Republican Kevin McCarthy was +elected speaker of the U.S. House of Representatives early on +Saturday, after making extensive concessions to a group of +right-wing hardliners that raised questions about the party's +ability to govern.USA-GUNS/BUMP STOCKSU.S. appeals court strikes down ban on bump stocksJan 6 (Reuters) - A U.S. appeals court on Friday struck down +a rule the Trump administration had adopted following a 2017 Las +Vegas mass shooting that banned "bump stocks," devices that +allow people to rapidly fire multiple rounds from semi-automatic +guns.BUSINESSEISAI-BIOGEN/ALZHEIMERS-FDAEisai, Biogen get U.S. FDA approval for Alzheimer's drug, +apply for full approvalJan 7 (Reuters) - The U.S. Food and Drug Administration on +Friday approved the Alzheimer's drug lecanemab developed by +Eisai Co Ltd 4523.T and Biogen Inc BIIB.O for patients in the +earliest stages of the mind-wasting disease.INDIA-GM/MUSTARDActivists accuse India of lapses in genetically modified +mustard approvalNEW DELHI, Jan 7 (Reuters) - Indian authorities rushed +approvals for a locally developed genetically modified (GM) +mustard variety by violating environmental regulations, a group +of activists opposed to GM crops said on Friday.SPORTSCRICKET-TEST-AUS-ZAF/Cricket-Australia chase Sydney victory after declaration +- Reuters NewsSYDNEY, Jan 7 (Reuters) - Australia reduced South Africa to +149 for six at the close of play on the fourth day of the +rain-disrupted third test on Saturday after declaring on 475-4 +in pursuit of a victory that would give them a 3-0 series sweep.SOCCER-FRANCE/DESCHAMPSSoccer-France head coach Deschamps extends contract +until 2026Jan 7 (Reuters) - France head coach Didier Deschamps has +extended his contract until June 2026, the French football +federation (FFF) said in a statement on Saturday.UPCOMINGBUSINESS / ECONOMICSUSA-STOCKS/WEEKAHEADWall Street WeekaheadA look at the week ahead in the US stock market.8 JanINDONESIA-CRYPTOCURRENCY/Interview with co-founder of Binance's TokocryptoInterview with the co-founder and chief operation officer of +Indonesia's crypto exchange Tokocrypto, which recently acquired +by the world's largest exchange Binance.9 Jan 21:00 ET / 02:00 GMTDANONE-PLASTIC/COMPLAINTDanone targeted by NGOs over plastic wasteSeveral NGOs including Surfrider Foundation and Zero Waste +France plan to file a complaint against dairy giant Danone voer +plastic waste, using France's Loi de Vigilance. We will storify +IF the legal complaint is filed.9 JanEGYPT-ECONOMY/TOURISM (TV)Interview with Egypt's new tourism ministerInterview with Egypt's new tourism minister on his plans for +the sector after the shocks of COVID-19 and the Ukraine war, and +his strategy for increasing badly needed foreign currency +revenues.9 JanUSA-BANKS/RESULTSPREVIEW-U.S. banks' Q4 profitsThe biggest U.S. banks are expected to report fourth-quarter +profits.9 JanLUNAR-NEWYEAR/TAIWAN (PIX)Lunar New Year market in TaipeiPeople shop for festive goods in Taipei ahead of the Lunar +New Year, which will usher in the Year of the Rabbit.9 Jan \ No newline at end of file diff --git a/news/BIIB/2023.01.08/Reuters-schedule.txt b/news/BIIB/2023.01.08/Reuters-schedule.txt new file mode 100644 index 0000000000000000000000000000000000000000..8a8771c33986a0af4983b45ea653d4e4f3b17db8 --- /dev/null +++ b/news/BIIB/2023.01.08/Reuters-schedule.txt @@ -0,0 +1,83 @@ +Here are the top stories and upcoming coverage plans for Reuters +text service as of 7:00 A.M. GMT/ 2:00 A.M. ET. For a full +schedule of news and events, go to our editorial calendar on +Reuters Connect.TOP STORIESGLOBALHEALTH-CORONAVIRUS-CHINAChina reopens borders in final farewell to zero-COVIDHONG KONG/SHANGHAI, Jan 8 (Reuters) - Travellers began +streaming across land and sea crossings from Hong Kong to +mainland China on Sunday, many eager for long-awaited reunions, +as Beijing opened borders that have been all but shut since the +start of the COVID-19 pandemic.UKRAINE-CRISIS-BLASTS-EASTUKRAINEMoscow ends self-proclaimed ceasefire, vows to press +ahead in UkraineJan 8 (Reuters) - Russia's overnight bombing of regions in +eastern Ukraine killed at least one, local officials said on +Sunday, after Moscow ended a self-declared Christmas ceasefire +and vowed to push on with combat until it reaches a victory over +its neighbour.U.S.USA-CONGRESS-MCCARTHY-NEWSMAKERMcCarthy's dream job could become a nightmareWASHINGTON, Jan 7 (Reuters) - Kevin McCarthy woke up on +Saturday morning with a long-held dream fulfilled: After a +four-day standoff, he was elected speaker of the U.S. House of +Representatives, becoming the most powerful member of the +Republican Party.USA-WEATHERHeavy rains and snow clobber California and more is on +the wayJan 7 (Reuters) - Yet another "atmospheric river" of dense, +moist tropical air will clobber California on Monday with rain +and mountain snow - the fifth of the weather phenomenon since +Christmas - even as the state was being pummeled by storms this +weekend, forecasters said.BUSINESSCNH-INDUSTRIAL-STRIKECNH Industrial union workers at two U.S. plants reject +proposed contractJan 7 (Reuters) - The U.S. Food and Drug Administration on +Friday approved the Alzheimer's drug lecanemab developed by +Eisai Co Ltd and Biogen Inc for patients in the earliest stages +of the mind-wasting disease.EISAI-BIOGEN-ALZHEIMERS-FDAEisai, Biogen get U.S. FDA approval for Alzheimer's drug, +apply for full approvalJan 7 (Reuters) - The U.S. Food and Drug Administration on +Friday approved the Alzheimer's drug lecanemab developed by +Eisai Co Ltd (4523.T) and Biogen Inc (BIIB.O) for patients in +the earliest stages of the mind-wasting disease.ENTERTAINMENTBRITAIN-ROYALS-HARRYPrince Harry set to deliver more broadsides at UK royals in +TV interviewsLONDON, Jan 8 (Reuters) - Days after Prince Harry's memoir +accidentally went on sale early with new allegations of discord +and conflict within the British royal family, a series of TV +interviews with him will start airing on Sunday with the +prospect of yet more damaging attacks on the monarchy.AUSTRALIA-ELVIS-FESTIVAL-ANNIVERSARYAustralian Elvis festival still 'fantastic' after 30 yearsPARKES, Jan 7 (Reuters) - Hundreds of Elvis Presley +impersonators paraded down the main street of Parkes on +Saturday, as the Australian country town celebrated 30 years +hosting an Elvis-tribute gala that has become one of the +country's biggest festivals.SPORTSTENNIS-AUSOPEN-OSAKAFormer champion Osaka withdraws from Australian OpenJan 8 (Reuters) - Two-times champion Naomi Osaka has pulled +out of the Australian Open, organisers of the year's first Grand +Slam which begins on Jan. 16 said on Sunday without elaborating +on the reason, as a cloud hung over one of the sport's brightest +stars.FOOTBALL-NFL-HAMLIN-PROGRESSBills' Hamlin continues to progress, shows 'excellent' +neurological functionJan 7 (Reuters) - Buffalo Bills safety Damar Hamlin +continues to make progress after suffering a cardiac arrest +during a game last Monday but remains in critical condition, the +NFL team said on Saturday.UPCOMINGPOLITICS / INTERNATIONAL AFFAIRSBENIN-ELECTION/Benin holds parliamentary election seen as test of +democracyBenin holds a parliamentary election seen as a test of +democracy after a 2021 presidential poll was boycotted by much +of the opposition and marred by violent protests. Benin's image +as a bastion of democracy and stability in West Africa was +dented by the exclusion of opposition parties from the last +parliamentary elections in 2019.8 Jan 02:00 ET / 07:00 GMTCLIMATE-CHANGE/UN-PAKISTANPakistan seeks help with $16 bln flood rebuilding at UN +conferencePakistan and the United Nations are holding a major +conference in Geneva on Monday aimed at marshalling support to +rebuild the country after devastating floods in what is expected +to be a major test case for who pays for climate disasters.8 Jan 03:00 ET / 08:00 GMTINDONESIA-MALAYSIA/(PIX)(TV)Malaysian PM Anwar visits Indonesia in first state tripMalaysia's recently elected Prime Minister Anwar Ibrahim +visits Indonesia in his first official trip abroad after +assuming office.9 JanUSA-CONGRESS/Republican-controlled U.S. House meets to vote on new rulesThe newly Republican-controlled U.S. House of +Representatives on Monday meets to vote on new rules to govern +its operations over the next two years, some of which will limit +Speaker Kevin McCarthy's power in his new role, as a result of +concessions he made to hard-liners in his party to win the +role.9 JanNORTHAMERICA-SUMMIT/(PIX)(TV)Biden, North American leaders meet in Mexico City for +summitU.S. President Joe Biden meets his Mexican counterpart +Andres Manuel Lopez Obrador and Canada's Prime Minister Justin +Trudeau at North American leaders summit in Mexico City.9 JanBUSINESS / ECONOMICSBRITAIN-BOE/PILLBank of England's Huw Pill chairs panel at AEA conferenceBank of England Chief Economist Huw Pill chairs a panel +discussion on monetary policy toolkits at the American Economic +Association's annual conference in New Orleans8 Jan 09:00 ET / 14:00 GMTTRINIDAD-OIL/AUCTIONTrinidad's onshore bidding round resultsTrinidad's government is expected to announce the results of +a bidding round for onshore oil and gas blocks in the Caribbean +country.9 JanSCIENCE / TECHNOLOGYHEALTH-CORONAVIRUS/THAILAND-CHINA(PIX)(TV)Thai ministers inspect preparedness at Bangkok airport and +welcome Chinese touristsThai health minister Anutin Charnvirakul, transport minister +Arkhom Termpittayapaisith and tourism minister Phiphat +Ratchakitprakarn inspect the preparation work at the Bankok +Suvarnabhumi Airport to welcome back Chinese tourists after +China dropped border controls for inbound travellers over the +weekend. The ministers are also expected to attend a ceremony +welcoming Chinese tourists arriving on the day.9 JanBRITAIN-SPACE/LAUNCH(PIX)(TV)The UK's first satellite launch takes offBritain's maiden satellite launches from Cornwall.9 JanRELIGIONRELIGION-PHILIPPINES/BLACK NAZARENE(PIX)(TV)Philippines' Catholics parade "Black Nazarene" in +celebration of ChristThousands of barefoot devotees attend mass in front of a +Catholic church housing a centuries-old black wooden statue of +Jesus Christ believed to have healing powers. This year's +celebration does not include the tradition of parading the black +statue due to COVID restrictions.9 Jan \ No newline at end of file diff --git a/news/BIIB/2023.01.09/Eisai, Biogen's Alzheimer's drug price should not dent demand - analysts.txt b/news/BIIB/2023.01.09/Eisai, Biogen's Alzheimer's drug price should not dent demand - analysts.txt new file mode 100644 index 0000000000000000000000000000000000000000..ae8d8d0cd3eb333a80e55ab309fec6c0da656834 --- /dev/null +++ b/news/BIIB/2023.01.09/Eisai, Biogen's Alzheimer's drug price should not dent demand - analysts.txt @@ -0,0 +1 @@ +The U.S. health regulator on Friday granted accelerated approval to the drug, Leqembi, and the decision was hailed by patient groups. The price set by the companies is higher than some analyst estimates of about $20,000. "As a result of this higher than expected pricing, we think it is reasonable to see peak sales reach $15.2 billion worldwide," BMO analyst Evan Seigerman said in a research note. However, the price tag is lower than that of Eisai and Biogen's first Alzheimer's disease drug, Aduhelm, which was initially priced at $56,000 annually before the drugmakers halved the price amid controversy over its approval. "We think this level of pricing is unlikely to generate the intense scrutiny that followed the initial $56K Aduhelm price tag," said Baird analyst Brian Skorney in a research note. "We don't expect this price to stunt demand for a product (Leqembi) that, in the best case scenario, could slow clinical decline by multiple years."Still, initial patient access will be limited by several factors including reimbursement restrictions by Medicare, the U.S. government insurance program for Americans aged 65 and older who represent some 90% of individuals likely to be eligible for Leqembi.Eisai and Biogen said on Saturday the Japanese drugmaker had applied for full approval by the U.S. Food and Drug Administration. Some analysts expect broader coverage by Medicare if the drug is granted full approval. (Reporting by Manas Mishra and Raghav Mahobe in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/BIIB/2023.01.09/Global markets live: Alibaba, Qiagen, Macy's, Oracle, Chevron....txt b/news/BIIB/2023.01.09/Global markets live: Alibaba, Qiagen, Macy's, Oracle, Chevron....txt new file mode 100644 index 0000000000000000000000000000000000000000..777be50374414a182c7deb379c4056f65b34a541 --- /dev/null +++ b/news/BIIB/2023.01.09/Global markets live: Alibaba, Qiagen, Macy's, Oracle, Chevron....txt @@ -0,0 +1,29 @@ + +  +  + +Eisai and Biogen received accelerated approval for their Alzheimer's treatment in the U.S. at an annual cost of $26,500. +Goldman Sachs will cut about 3,200 jobs this week as part of a restructuring program, according to Bloomberg. +Qatar Energy and Chevron are partnering in a $6 billion petrochemical plant. +Stora Enso completed the acquisition of De Jong Packaging Group for €1.02 billion. +Silchester becomes WPP's third largest shareholder and may ask for the removal of the chairman of the board. +Alibaba plans to invest $1bn in Turkey. +FDA reports potential ineffectiveness of AstraZeneca's COVID-19 drug against the new Omicron sub-variant. AstraZeneca to acquire CinCor Pharma for $1.8 billion. +Sartorius AG CEO expects less technological opening with China. +Autoneum acquires Borgers for €117 million. +Qiagen acquires Verogen for $150M. +Otsuka and Lundbeck gets FDA priority review for Brexpiprazole for the treatment of agitation associated with Alzheimer's dementia. +Macy's estimates Q4 2022 revenue at the low end of guidance. +Jack Ma no longer controls Ant Group. +Oracle, Verizon, AT&T, Intuit, Repsol, Equinor and Barry Callebaut detach dividends. +Tesla announced Monday an extension of delivery times for some of its Y models in China, a sign of increased demand after the recent price cut. +Chevron and Exxon Mobil were up about 1.5% in premarket trading as oil prices rose following the reopening of China's borders on Sunday. +Macy's expects to report lower-than-expected fourth-quarter sales and limited spending in 2023 due to inflation. +Salesforce is looking to save $3 billion to $5 billion, CEO Marc Benioff told employees, Fortune magazine reported Friday, citing an audio recording of the meeting. +Moderna - COVID-19 vaccine sales were $18.4 billion in 2022, in line with the group's forecast. +CVS expects to post annual sales above its expectations of $309 billion to $314 billion and adjusted earnings per share at the high end of its guidance. +Abercrombie & Fitch raised its sales guidance for the last three months of 2022. +Lululemon Athletica lost 10% in premarket trading after announcing it expects gross margins to decline in the fourth quarter, hurt by inflation. +China will not include Pfizer's COVID-19 antiviral Paxlovid on its list of treatments covered by medical insurance plans because of its high price. +Biopharmaceutical company Cincor is to be bought by AstraZeneca for up to $1.8 billion, the Anglo-Swedish company announced Monday. + diff --git a/news/BIIB/2023.01.09/Japan's Nikkei gains as tech shares track U.S. peers higher.txt b/news/BIIB/2023.01.09/Japan's Nikkei gains as tech shares track U.S. peers higher.txt new file mode 100644 index 0000000000000000000000000000000000000000..3ca41f34fa2ada470e1d5b505343c690821b80de --- /dev/null +++ b/news/BIIB/2023.01.09/Japan's Nikkei gains as tech shares track U.S. peers higher.txt @@ -0,0 +1,28 @@ +TOKYO, Jan 10 (Reuters) - Japan's Nikkei share average +rose on Tuesday, as technology stocks tracked their U.S. peers +higher, but gains were limited as investors awaited the Bank of +Japan's policy meeting due next week.The Nikkei rose 0.87% to 26,199.25 by the midday +break, while the broader Topix gained 0.48% to 1,884.80.The Nasdaq Composite ended well off the day's highs +overnight even as the Dow ended lower and the S&P 500 +index closed nearly flat, as expectations that the +Federal Reserve would dial back on its hawkish stance were +offset by lingering worries about inflation."Treasury yields fell and the Nasdaq gained momentum in the +U.S. overnight. So investors bought Japanese stocks but the +gains were limited," said Shuji Hosoi, senior strategist at +Daiwa Securities."That is because investors were cautious about the Bank of +Japan's decision to be made at a policy meeting next week. The +bank surprised investors last month, and the (central) bank may +do something similar."Japan's central bank last month widened the trading band for +the benchmark 10-year government bonds to 0.5% from 0.25%, +sending yields across the curve higher.Drugmaker Eisai jumped as much as 8% in early trade +after the U.S. Food and Drug Administration approved its +Alzheimer's drug lecanemab, developed in partnership with Biogen +Inc, for patients in the earliest stages of the +disease. It last traded up 4.28%.Chip giants Tokyo Electron rose 3.35% and Advantest +gained 1.53%. Technology investor SoftBank Group +climbed 2.53%.Heavyweight Fast Retailing, the owner of the Uniqlo +clothing brand, gained 0.74%.Bucking the trend, utility Tokyo Electric Power Company +Holdings lost 3.08% and was the worst performer on the +Nikkei, followed by staffing agency Recruit Holdings, +which lost 2.81%. Kansai Electric Power shed 2.55%. +(Reporting by Junko Fujita; Editing by Eileen Soreng) \ No newline at end of file diff --git a/news/BIIB/2023.01.09/MarketScreener's World Press Review: January 9 .txt b/news/BIIB/2023.01.09/MarketScreener's World Press Review: January 9 .txt new file mode 100644 index 0000000000000000000000000000000000000000..a18daa60dbe71ccbe5d0e47a40fb24915a0465db --- /dev/null +++ b/news/BIIB/2023.01.09/MarketScreener's World Press Review: January 9 .txt @@ -0,0 +1,12 @@ + +Softbank, Hargreaves Lansdown, Walt Disney, Goldman Sachs, Deere & Co, Eisai & Biogen, Tesla, Amazon, Apple, Alphabet and Meta, General Electric & GE healthcare, Johnson & Johnson, Baxter, Novartis, Carnival, Royal Caribbean, Norwegian Cruise, Comcast, Adobe, Rakuten and SK Bioscience feature in this press review! + + + + +  +  + +  +  +  diff --git a/news/BIIB/2023.01.10/Eisai submits marketing authorization application for lecanemab as treatment for early ...txt b/news/BIIB/2023.01.10/Eisai submits marketing authorization application for lecanemab as treatment for early ...txt new file mode 100644 index 0000000000000000000000000000000000000000..cc7d2238e350e927d35d88d62c634a352ea4bb3d --- /dev/null +++ b/news/BIIB/2023.01.10/Eisai submits marketing authorization application for lecanemab as treatment for early ...txt @@ -0,0 +1,69 @@ + + +TOKYO and CAMBRIDGE, Mass., Jan. 10, 2023 /PRNewswire/ -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") and Biogen Inc. (Nasdaq: BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, "Biogen") announced today that Eisai has submitted a marketing authorization application (MAA) for lecanemab (Brand Name in the U.S.: LEQEMBI™), an investigational anti-amyloid beta (Aβ) protofibril antibody, for the treatment of early Alzheimer's disease (mild cognitive impairment due to Alzheimer's disease (AD) and mild AD dementia) to the European Medicines Agency (EMA). This application is based on the results of the Phase III Clarity AD study and the Phase IIb clinical study (Study 201), which demonstrated that lecanemab treatment showed a reduction of clinical decline in early AD and is subject to a validation to determine whether the EMA accepts the application for review. + + + + + + + +The Clarity AD study met its primary endpoint (CDR-SB1: Clinical Dementia Rating-Sum of Boxes) and all key secondary endpoints with highly statistically significant results. The most common adverse events (>10%) in the lecanemab group were infusion reactions, ARIA-H (combined cerebral microhemorrhages, cerebral macrohemorrhages, and superficial siderosis), ARIA-E (edema/effusion), headache, and fall. In November 2022, the results of the Clarity AD study were presented at the 2022 Clinical Trials on Alzheimer's Disease (CTAD) conference, and simultaneously published in the New England Journal of Medicine, peer-reviewed medical journals. +In the U.S., lecanemab was granted accelerated approval as a treatment for AD by the U.S. Food and Drug Administration (FDA) on January 6, 2023. Eisai submitted a Supplemental Biologics License Application (sBLA) to the FDA for approval under the traditional pathway on the same day. In China, Eisai has initiated submission of data for BLA to the National Medical Products Administration (NMPA) of China in December 2022. In Japan, Eisai plans to submit a marketing authorization application by the end of Eisai's fiscal year 2022, which ends March 31, 2023. +Eisai serves as the lead of lecanemab development and regulatory submissions globally with both Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority. +1 CDR-SB is a numeric scale used to quantify the various severity of symptoms of dementia. Based on interviews of people living with AD and family/caregivers, qualified healthcare professionals assess cognitive and functional performance in six areas: memory, orientation, judgment and problem solving, community affairs, home and hobbies, and personal care. The total score of the six areas is the score of CDR-SB, and CDR-SB is also used as an appropriate item for evaluating the effectiveness of therapeutic drugs targeting the early stages of AD. +Contacts +MEDIA CONTACT: +MEDIA CONTACT: +Eisai Co., Ltd. +Biogen Inc. +Public Relations Department +Natacha Gassenbach +TEL: +81-(0)3-3817-5120 ++ 1-857-777-6573 +public.affairs@biogen.com +Eisai Europe, Ltd. +(Europe, Australia, New Zealand and Russia) +INVESTOR CONTACT: +EMEA Communications Department +Biogen Inc. +EMEA-comms@eisai.net +Mike Hencke +TEL: +44-(0)786-601-1272 ++ 1-781-464-2442 +IR@biogen.com +INVESTOR CONTACT: +Eisai Co., Ltd. +Investor Relations Department +TEL: +81-(0)3-3817-5122 +[Notes to editors]1.  INDICATION, DOSAGE AND ADMINISTRATION, AND IMPORTANT SAFETY INFORMATION IN THE U.S. INDICATIONLEQEMBI is indicated for the treatment of Alzheimer's disease. Treatment with LEQEMBI should be initiated in patients with mild cognitive impairment or mild dementia stage of disease, the population in which treatment was initiated in clinical trials. There are no safety or effectiveness data on initiating treatment at earlier or later stages of the disease than were studied. This indication is approved under accelerated approval based on reduction in amyloid beta plaques observed in patients treated with LEQEMBI. Continued approval for this indication may be contingent upon verification of clinical benefit in a confirmatory trial. +IMPORTANT SAFETY INFORMATIONWARNINGS AND PRECAUTIONSAmyloid Related Imaging AbnormalitiesLEQEMBI can cause amyloid related imaging abnormalities-edema (ARIA-E) and -hemosiderin deposition (ARIA-H). ARIA-E can be observed on MRI as brain edema or sulcal effusions, and ARIA-H as microhemorrhage and superficial siderosis. ARIA is usually asymptomatic, although serious and life-threatening events, including seizure and status epilepticus, rarely can occur. Reported symptoms associated with ARIA may include headache, confusion, visual changes, dizziness, nausea, and gait difficulty. Focal neurologic deficits may also occur. Symptoms associated with ARIA usually resolve over time. +ARIA Monitoring and Dose Management Guidelines +Obtain recent (within one year) brain magnetic resonance imaging (MRI) prior to initiating treatment with LEQEMBI. Obtain an MRI prior to the 5th, 7th, and 14th infusions.Recommendations for dosing in patients with ARIA-E and ARIA-H depend on clinical symptoms and radiographic severity. Depending on ARIA severity, use clinical judgment in considering whether to continue dosing, temporarily discontinue treatment, or permanently discontinue LEQEMBI.Enhanced clinical vigilance for ARIA is recommended during the first 14 weeks of treatment with LEQEMBI. If a patient experiences symptoms suggestive of ARIA, clinical evaluation should be performed, including MRI if indicated. If ARIA is observed on MRI, careful clinical evaluation should be performed prior to continuing treatment.There is no experience in patients who continued dosing through symptomatic ARIA-E or through asymptomatic, but radiographically severe, ARIA-E. There is limited experience in patients who continued dosing through asymptomatic but radiographically mild to moderate ARIA-E. There are limited data in dosing patients who experienced recurrent ARIA-E.Incidence of ARIA +In Study 1 (Study 201), symptomatic ARIA occurred in 3% (5/161) of LEQEMBI-treated patients. Clinical symptoms associated with ARIA resolved in 80% of patients during the period of observation.Including asymptomatic cases, ARIA was observed in LEQEMBI: 12% (20/161); placebo: 5% (13/245). ARIA-E was observed in LEQEMBI: 10% (16/161); placebo: 1% (2/245). ARIA-H was observed in LEQEMBI: 6% (10/161); placebo: 5% (12/245). There was no increase in isolated ARIA-H for LEQEMBI compared to placebo.Intracerebral hemorrhage >1 cm in diameter was reported after one treatment in LEQEMBI: 1 patient; placebo: zero patients. Events of intracerebral hemorrhage, including fatal events, in patients taking LEQEMBI have also been reported in other studies.Apolipoprotein E ε4 (ApoE ε4) Carrier Status and Risk of ARIA +In Study 1, 6% (10/161) of patients in the LEQEMBI group were ApoE ε4 homozygotes, 24% (39/161) were heterozygotes, and 70% (112/161) were noncarriers.The incidence of ARIA was higher in ApoE ε4 homozygotes than in heterozygotes and noncarriers among patients treated with LEQEMBI. Of the 5 LEQEMBI-treated patients who had symptomatic ARIA, 4 were ApoE ε4 homozygotes, 2 of whom experienced severe symptoms. An increased incidence of symptomatic and overall ARIA in ApoE ε4 homozygotes compared to heterozygotes and noncarriers in LEQEMBI-treated patients has been reported in other studies.The recommendations on management of ARIA do not differ between ApoE ε4 carriers and noncarriers.Consider testing for ApoE ε4 status to inform the risk of developing ARIA when deciding to initiate treatment with LEQEMBI.Radiographic Findings +The majority of ARIA-E radiographic events occurred early in treatment (within the first 7 doses), although ARIA can occur at any time and patients can have more than 1 episode. The maximum radiographic severity of ARIA-E in patients treated with LEQEMBI was mild in 4% (7/161) of patients, moderate in 4% (7/161) of patients, and severe in 1% (2/161) of patients. Resolution on MRI occurred in 62% of ARIA-E patients by 12 weeks, 81% by 21 weeks, and 94% overall after detection. The maximum radiographic severity of ARIA-H microhemorrhage in patients treated with LEQEMBI was mild in 4% (7/161) of patients and severe in 1% (2/161) of patients; 1 of the 10 patients with ARIA-H had mild superficial siderosis.Concomitant Antithrombotic Medication and Other Risk Factors for Intracerebral Hemorrhage +Patients were excluded from enrollment in Study 1 for baseline use of anticoagulant medications. Antiplatelet medications such as aspirin and clopidogrel were allowed. If anticoagulant medication was used because of intercurrent medical events that required treatment for ≤4 weeks, treatment with LEQEMBI was to be temporarily suspended.Most exposures to antithrombotic medications were to aspirin; few patients were exposed to other antiplatelet drugs or anticoagulants, limiting any meaningful conclusions about the risk of ARIA or intracerebral hemorrhage in patients taking other antiplatelet drugs or anticoagulants. Because intracerebral hemorrhages >1 cm in diameter have been observed in patients taking LEQEMBI, additional caution should be exercised when considering the administration of antithrombotics or a thrombolytic agent (e.g., tissue plasminogen activator) to a patient already being treated with LEQEMBI.Patients were excluded from enrollment in Study 1 for the following risk factors for intracerebral hemorrhage: prior cerebral hemorrhage >1 cm in greatest diameter, more than 4 microhemorrhages, superficial siderosis, evidence of vasogenic edema, evidence of cerebral contusion, aneurysm, vascular malformation, infective lesions, multiple lacunar infarcts or stroke involving a major vascular territory, and severe small vessel or white matter disease. Caution should be exercised when considering the use of LEQEMBI in patients with these risk factors.Infusion-Related Reactions +Infusion-related reactions were observed in LEQEMBI: 20% (32/161); placebo: 3% (8/245), and the majority of cases in LEQEMBI-treated patients (88%, 28/32) occurred with the first infusion. All infusion-related reactions were mild (56%) or moderate (44%) in severity. Infusion-related reactions resulted in discontinuations in 2% (4/161) of patients treated with LEQEMBI. Symptoms of infusion-related reactions included fever and flu-like symptoms (chills, generalized aches, feeling shaky, and joint pain), nausea, vomiting, hypotension, hypertension, and oxygen desaturation.After the first infusion, 38% of LEQEMBI-treated patients had transient decreased lymphocyte counts to <0.9 x109/L compared to 2% on placebo, and 22% of LEQEMBI-treated patients had transient increased neutrophil counts to >7.9 x109/L compared to 1% on placebo.In the event of an infusion-related reaction, the infusion rate may be reduced, or the infusion may be discontinued, and appropriate therapy initiated as clinically indicated. Prophylactic treatment with antihistamines, acetaminophen, nonsteroidal anti-inflammatory drugs, or corticosteroids prior to future infusions may be considered.ADVERSE REACTIONS +In Study 1, 15% of LEQEMBI-treated patients, compared to 6% of placebo-treated patients, stopped study treatment because of an adverse reaction. The most common adverse reaction leading to discontinuation of LEQEMBI was infusion-related reactions that led to discontinuation in 2% (4/161) of patients treated with LEQEMBI compared to 1% (2/245) of patients on placebo.The most common adverse reactions reported in ≥5% of patients treated with LEQEMBI (N=161) and ≥2% higher than placebo (N=245) in Study 1 were infusion-related reactions (LEQEMBI: 20%; placebo: 3%), headache (LEQEMBI: 14%; placebo: 10%), ARIA-E (LEQEMBI: 10%; placebo: 1%), cough (LEQEMBI: 9%; placebo: 5%), and diarrhea (LEQEMBI: 8%; placebo: 5%).Please see full Prescribing Information. +2.  About Lecanemab Lecanemab (Brand Name in the U.S.: LEQEMBI™) is the result of a strategic research alliance between Eisai and BioArctic. Lecanemab is a humanized immunoglobulin gamma 1 (IgG1) monoclonal antibody directed against aggregated soluble (protofibril) and insoluble forms of amyloid-beta (Aβ). In the U.S., LEQEMBI was granted accelerated approval by the U.S. Food and Drug Administration (FDA) on January 6, 2023. LEQEMBI is indicated for the treatment of Alzheimer's disease (AD) in the U.S. Treatment with LEQEMBI should be initiated in patients with mild cognitive impairment or mild dementia stage of disease, the population in which treatment was initiated in clinical trials. There are no safety or effectiveness data on initiating treatment at earlier or later stages of the disease than were studied. This indication is approved under accelerated approval based on reduction in Aβ plaques observed in patients treated with LEQEMBI. Continued approval for this indication may be contingent upon verification of clinical benefit in a confirmatory trial.Eisai has completed lecanemab subcutaneous bioavailability study, and subcutaneous dosing is currently being evaluated in the Clarity AD (Study 301) OLE.Since July 2020 the Phase 3 clinical study (AHEAD 3-45) for individuals with preclinical AD, meaning they are clinically normal and have intermediate or elevated levels of amyloid in their brains, is ongoing. AHEAD 3-45 is conducted as a public-private partnership between the Alzheimer's Clinical Trial Consortium that provides the infrastructure for academic clinical trials in AD and related dementias in the U.S, funded by the National Institute on Aging, part of the National Institutes of Health, Eisai and Biogen. +Since January 2022, the Tau NexGen clinical study for Dominantly Inherited AD (DIAD), that is conducted by Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU), led by Washington University School of Medicine in St. Louis, is ongoing.  +3.  About Phase IIb (Study 201) study and Phase III Clarity AD studyPhase IIb clinical study (Study 201) was conducted as a double-blind, parallel-group, dose-finding study of lecanemab or placebo for 18 months in 856 people living with early AD. Lecanemab treatment resulted in a dose-dependent, longitudinal, and significant reduction in PET SUVR, which assesses amyloid-β accumulation in the brain, compared to placebo. At 18 months, ADCOMS2, CDR-SB, and ADAS-cog143 showed a dose-dependent reduction in clinical decline, with suppression rates of 29.7%, 26.5%, and 47.2% in the 10 mg/kg bi-weekly treatment, respectively. The study did not achieve its primary outcome measure4 at 12 months of treatment. The most common adverse events occurring in the 10 mg/kg biweekly group (incidence ≥ 5% and more frequent than in the placebo group) were infusion reactions (19.9%), headache (13.7%), ARIA-E (9.9%), cough (8.7%), diarrhea (8.1%), dizziness (7.5%), cerebral microhemorrhages (5.6%). +2 Developed by Eisai, ADCOMS combines items from the ADAS-Cog scale for assessing cognitive functions, MMSE and the CDR scale for evaluating the severity of dementia to enable highly sensitive detection of changes in clinical functions of early AD symptoms and changes in memory3 ADAS-Cog is the most common cognitive assessment instrument used in AD clinical trials all over the world. ADAS-Cog14 consists of 14 competencies: word recall, commands, constructional praxis, object and finger naming, ideational praxis, orientation, word recognition, remembering word recognition instructions, comprehension of spoken language, word finding difficulty, spoken language ability, delayed word recall, number cancellation, and maze task. ADAS-Cog has been used in clinical trials for earlier stages of AD including MCI.4 An 80% or higher estimated probability of demonstrating 25% or greater slowing in clinical decline at 12 months treatment measured by ADCOMS from baseline compared to placebo. +Phase III Clarity AD study was conducted as a placebo-controlled, double-blind, parallel-group, randomized study of lecanemab 10 mg/kg or placebo administered bi-weekly for 18 months in 1,795 people living with early AD. Mean change of CDR-SB from baseline at 18 months as the primary endpoint was 1.21 and 1.66 for lecanemab and placebo groups, respectively. Lecanemab treatment resulted in highly statistically significant results, reducing clinical decline on the global cognitive and functional scale, compared with placebo at 18 months by -0.45 (95% Confidence Interval (CI): -0.67, -0.23; P=0.00005), representing a 27% slowing of decline. Starting as early as six months (difference: -0.17 [95% CI: -0.29, -0.05]; P<0.01), and increasing in absolute difference over time across all time points every 3 months, the treatment showed highly statistically significant changes in CDR-SB from baseline compared to placebo (all p-values are less than 0.01). All key secondary endpoints, amyloid Positron Emission Tomography (PET) using Centiloids, ADAS-Cog14, ADCOMS and ADCS MCI-ADL5, also showed highly statistically significant results compared with placebo (P<0.001).The most common adverse events (>10%) in the lecanemab group were infusion reactions (lecanemab: 26.4%; placebo: 7.4%), ARIA-H (combined cerebral microhemorrhages, cerebral macrohemorrhages, and superficial siderosis; lecanemab: 17.3%; placebo: 9.0%), ARIA-E (edema/effusion; lecanemab: 12.6%; placebo: 1.7%), headache (lecanemab: 11.1%; placebo: 8.1%), and fall (lecanemab: 10.4%; placebo: 9.6%). Infusion reactions were largely mild-to-moderate (grade 1-2: 96%) and occurred on the first dose (75%).During the study period, deaths occurred in 0.7% and 0.8% of participants in the lecanemab and placebo groups, respectively and no deaths were related to lecanemab or occurred with amyloid-related imaging abnormalities (ARIA) in 18-month double-blind study period. Serious adverse events were experienced by 14.0% of participants in the lecanemab group and 11.3% of participants in the placebo group. Treatment-emergent adverse events occurred in 88.9% and 81.9% of participants in the lecanemab and placebo groups, respectively. Treatment-emergent adverse events leading to drug withdrawal occurred in 6.9% and 2.9% of participants in the lecanemab and placebo groups, respectively.Overall, lecanemab's ARIA incidence profile was within expectations based on the Phase 2 trial results. ARIA-E events were largely mild-to-moderate radiographically (91% of those who had ARIA-E), asymptomatic (78% of those who had ARIA-E), occurred within the first 3 months of treatment (71% of those who had ARIA-E) and resolved within 4 months of detection (81% of those who had ARIA-E). Among the 2.8% of lecanemab-treated subjects with symptomatic ARIA-E, the most commonly reported symptoms were headache, visual disturbance, and confusion. The incidence of symptomatic ARIA-H was 0.7% in the lecanemab group and 0.2% in the placebo group. No imbalance was observed in isolated ARIA-H (i.e., ARIA-H in participants who did not also experience ARIA-E) between lecanemab (8.9%) and placebo (7.8%). +5 ADCS MCI-ADL assesses the competence of patients with MCI in activities of daily living (ADLs), based on 24 questions to the patient's partner about actual recent activities of daily living. +4.  About the Collaboration between Eisai and Biogen for ADEisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority. +5.  About the Collaboration between Eisai and BioArctic for ADSince 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015. +6.  About Eisai Co., Ltd.Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care (hhc) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology. +In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), with working on various activities together with global partners. +For more information about Eisai, please visit www.eisai.com (for global headquarters: Eisai Co., Ltd.), and connect with us on Twitter @Eisai_SDGs. +7.  About BiogenAs pioneers in neuroscience, Biogen discovers, develops, and delivers worldwide innovative therapies for people living with serious neurological diseases as well as related therapeutic adjacencies. One of the world's first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Sir Kenneth Murray, and Nobel Prize winners Walter Gilbert and Phillip Sharp. Today, Biogen has a leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, and developed the first approved treatment to address a defining pathology of Alzheimer's disease. Biogen is also commercializing biosimilars and focusing on advancing one of the industry's most diversified pipelines in neuroscience that will transform the standard of care for patients in several areas of high unmet need. +The company routinely posts information that may be important to investors on its website at www.biogen.com. Follow Biogen on social media – Twitter, LinkedIn, Facebook, YouTube. +Biogen Safe Harbor This news release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about the potential clinical effects of lecanemab; the potential benefits, safety and efficacy of lecanemab; potential regulatory discussions, submissions and approvals and the timing thereof; the treatment of Alzheimer's disease; the anticipated benefits and potential of Biogen's collaboration arrangements with Eisai; the potential of Biogen's commercial business and pipeline programs, including lecanemab; and risks and uncertainties associated with drug development and commercialization. These statements may be identified by words such as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "possible," "potential," "will," "would" and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical studies may not be indicative of full results or results from later stage or larger scale clinical studies and do not ensure regulatory approval. You should not place undue reliance on these statements or the scientific data presented. +These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including without limitation unexpected concerns that may arise from additional data, analysis or results obtained during clinical studies, including the Clarity AD clinical trial and AHEAD 3-45 study; the occurrence of adverse safety events; risks of unexpected costs or delays; the risk of other unexpected hurdles; regulatory submissions may take longer or be more difficult to complete than expected; regulatory authorities may require additional information or further studies, or may fail or refuse to approve or may delay approval of Biogen's drug candidates, including lecanemab; actual timing and content of submissions to and decisions made by the regulatory authorities regarding lecanemab; uncertainty of success in the development and potential commercialization of lecanemab; failure to protect and enforce Biogen's data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; product liability claims; third party collaboration risks; and the direct and indirect impacts of the ongoing COVID-19 pandemic on Biogen's business, results of operations and financial condition. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Biogen's expectations in any forward-looking statement. Investors should consider this cautionary statement as well as the risk factors identified in Biogen's most recent annual or quarterly report and in other reports Biogen has filed with the U.S. Securities and Exchange Commission. These statements are based on Biogen's current beliefs and expectations and speak only as of the date of this news release. Biogen does not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/eisai-submits-marketing-authorization-application-for-lecanemab-as-treatment-for-early-alzheimers-disease-in-europe-301718200.html +SOURCE Eisai Inc. + + diff --git a/news/BIIB/2023.01.10/Japan's Nikkei closes at 2-week high on tech boost.txt b/news/BIIB/2023.01.10/Japan's Nikkei closes at 2-week high on tech boost.txt new file mode 100644 index 0000000000000000000000000000000000000000..da271940fd7853eadf7b389f01ef36bf6da82372 --- /dev/null +++ b/news/BIIB/2023.01.10/Japan's Nikkei closes at 2-week high on tech boost.txt @@ -0,0 +1,33 @@ +TOKYO, Jan 10 (Reuters) - Japan's Nikkei index on +Tuesday closed at its highest in two weeks, as technology stocks +jumped, but the gains were capped by caution ahead of next +week's meeting by the Bank of Japan.The Nikkei share average ended 0.78% higher at +26,175.56, its highest since Dec. 28. The broader Topix +gained 0.27% to 1,880.88.The Nasdaq Composite ended well off the day's highs +overnight even as the Dow ended lower and the S&P 500 +index closed nearly flat, as expectations that the +Federal Reserve would dial back on its hawkish stance were +offset by lingering worries about inflation."Treasury yields fell and the Nasdaq gained momentum in the +U.S. overnight. So, investors bought Japanese stocks but the +gains were limited," said Shuji Hosoi, senior strategist at +Daiwa Securities."... Investors are cautious about the Bank of Japan's +decision to be made at a policy meeting next week. The bank +surprised investors last month, and the (central) bank may do +something similar."Japan's central bank last month widened the trading band for +the benchmark 10-year government bonds to 0.5% from 0.25%, +sending yields across the curve higher.Eisai closed up 4.84%, after jumping as much as 8% +after the U.S. Food and Drug Administration approved its +Alzheimer's drug lecanemab, developed in partnership with Biogen +Inc, for patients in the earliest stages of the +disease.Chip giants Tokyo Electron climbed 3.08% and +Advantest gained 1.88%. Air-conditioning maker Daikin +Industries rose 5.33%.Technology investor SoftBank Group climbed 2.36% +after a report said British Prime Minister Rishi Sunak has +revived talks with the Japanese firm regarding a London listing +for chip designer Arm LtdHeavyweight Fast Retailing, the owner of the Uniqlo +clothing brand, gained 0.98%.Bucking the trend, utility Tokyo Electric Power Company +Holdings lost 4.18% and was the worst performer on the +Nikkei. Kansai Electric Power shed 2.79%. Staffing +agency Recruit Holdings lost 3.02%. +(Reporting by Junko Fujita; Editing by Eileen Soreng and +Uttaresh.V) \ No newline at end of file diff --git a/news/BIIB/2023.01.11/U.S. to announce list of drugs for pricing negotiations Sept. 1.txt b/news/BIIB/2023.01.11/U.S. to announce list of drugs for pricing negotiations Sept. 1.txt new file mode 100644 index 0000000000000000000000000000000000000000..9ab738c2abd601b7cb7a1a58cc6c8649348ab493 --- /dev/null +++ b/news/BIIB/2023.01.11/U.S. to announce list of drugs for pricing negotiations Sept. 1.txt @@ -0,0 +1 @@ +President Joe Biden in August signed into law the Inflation Reduction Act, which among its provisions for the first time allows the federal Medicare health plan for people age 65 and older and the disabled to negotiate prices on some of the most expensive drugs.The U.S. Department of Health and Human Services (HHS) and the Centers of Medicare & Medicaid Services (CMS) - which oversees Medicare and the negotiation process - announced the specific timeline for the first year of negotiations on Wednesday. It had previously said it would release the names of the 10 Part D high-spend brand name medicines that would be included in pricing negotiations in the fall of 2023.In September of 2024, CMS expects to publish the negotiated "maximum fair price" that would become effective in 2026, CMS Administrator Chiquita Brooks-LaSure said on a call with reporters. (Reporting by Ahmed Aboulenein; Additional reporting by Leroy Dsouza in Bengaluru; Editing by Bill Berkrot)By Ahmed Aboulenein \ No newline at end of file diff --git a/news/BIIB/2023.01.15/Eisai files for approval of Alzheimer's drug in Japan.txt b/news/BIIB/2023.01.15/Eisai files for approval of Alzheimer's drug in Japan.txt new file mode 100644 index 0000000000000000000000000000000000000000..dd0f774be37c70adee134d50a9956a07fac3c9d9 --- /dev/null +++ b/news/BIIB/2023.01.15/Eisai files for approval of Alzheimer's drug in Japan.txt @@ -0,0 +1 @@ +The drug, developed in partnership with Biogen Inc , is an antibody that has been shown to remove sticky deposits of a protein called amyloid beta from the brains of those in the early stages of the mind-wasting disease. The company's application is based on results from a late-stage study in which the drug was shown to reduce the rate of cognitive decline in patients with early Alzheimer's by 27%, compared with a placebo.Nearly all previous experimental drugs using the same approach have failed.Earlier this month, Eisai also applied for full approval of the drug with the U.S. Food and Drug Administration (FDA) as a treatment for patients in the earliest stages of the neurodegenerative disease. (Reporting by Shivani Tanna in Bengaluru; Editing by Tom Hogue and Gerry Doyle) \ No newline at end of file diff --git a/news/BIIB/2023.01.15/Eisai, Biogen apply for Alzheimer's drug approval in Japan.txt b/news/BIIB/2023.01.15/Eisai, Biogen apply for Alzheimer's drug approval in Japan.txt new file mode 100644 index 0000000000000000000000000000000000000000..c3cc2f8b2ca9f146f32c129c5e3015e1b5b4efdb --- /dev/null +++ b/news/BIIB/2023.01.15/Eisai, Biogen apply for Alzheimer's drug approval in Japan.txt @@ -0,0 +1 @@ +Japanese pharmaceutical firm Eisai Co. said Monday it and U.S. firm Biogen Inc. applied with the health ministry for approval of an Alzheimer's drug that could become the first available in Japan that both treats the disease's cause and slows symptom progression.The two companies hope to gain approval by the end of the year following the U.S. Food and Drug Administration's decision earlier in the month to grant it fast-track approval.Branded lecanemab, the new drug co-developed by Eisai and Biogen is for early-stage treatment of the fatal, brain-robbing disease. The drug removes a type of protein called amyloid beta, which is considered the cause of the disease.==Kyodo© Kyodo News International, Inc., source Newswire \ No newline at end of file diff --git a/news/BIIB/2023.01.18/Biogen : To report fourth quarter and full year 2022 financial results february 15, 2023.txt b/news/BIIB/2023.01.18/Biogen : To report fourth quarter and full year 2022 financial results february 15, 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..efe6f43efd4d88b5981d73bb13a4f7c8991ba491 --- /dev/null +++ b/news/BIIB/2023.01.18/Biogen : To report fourth quarter and full year 2022 financial results february 15, 2023.txt @@ -0,0 +1,43 @@ + + + + Cambridge, Mass.- Biogen Inc. (Nasdaq:BIIB) today announced it will report fourth quarter and full year 2022 financial results Wednesday, February 15, 2023, before the financial markets open. + + + Following the release of the financials, the Company will host a live webcast with Biogen management at 8:00 a.m. ET. To access the live webcast, please go to the investors section of Biogen's website at investors.biogen.com. Following the live webcast, an archived version of the call will be available on the website. + + +About Biogen + + + As pioneers in neuroscience, Biogen discovers, develops, and delivers worldwide innovative therapies for people living with serious neurological diseases as well as related therapeutic adjacencies. One of the world's first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Sir Kenneth Murray, and Nobel Prize winners Walter Gilbert and Phillip Sharp. Today, Biogen has a leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, and developed the first approved treatment to address a defining pathology of Alzheimer's disease. Biogen is also commercializing biosimilars and focusing on advancing one of the industry's most diversified pipelines in neuroscience that will transform the standard of care for patients in several areas of high unmet need. + + + We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media - Twitter, LinkedIn, Facebook, YouTube. + + +Contact: + Karen Jewell + Investor Relations + Biogen + 781.464.2442 + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Biogen Inc. published this content on 18 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 January 2023 21:09:05 UTC. + + diff --git a/news/BIIB/2023.01.19/Eli Lilly says U.S. FDA rejects accelerated approval for Alzheimer's drug.txt b/news/BIIB/2023.01.19/Eli Lilly says U.S. FDA rejects accelerated approval for Alzheimer's drug.txt new file mode 100644 index 0000000000000000000000000000000000000000..062e0529bbc14c880e616fa5ac86658a8139f169 --- /dev/null +++ b/news/BIIB/2023.01.19/Eli Lilly says U.S. FDA rejects accelerated approval for Alzheimer's drug.txt @@ -0,0 +1 @@ +Lilly said the FDA sent it a complete response letter for donanemab, an antibody designed to remove amyloid protein plaques from the brains of people with early Alzheimer's. Such letters typically outline concerns and conditions that must be addressed to gain U.S. approval.Lilly said the FDA issued the letter "due to the limited number of patients with at least 12 months of drug exposure data provided in the submission."The company said it remained on track to report in the second quarter of this year results from a confirmatory Phase 3 trial of donanemab. That study, Lilly said, will form the basis of donanemab's application for traditional FDA approval shortly thereafter.The FDA action "doesn't change the fact that true opportunity for donanemab rests entirely on the upcoming Phase 3 readout ... along with a traditional approval," Evercore ISI analyst Umer Raffat said in a research note. The FDA can grant "accelerated" approval to drugs based on their impact on a measurement, in this case amyloid brain plaques, likely to correlate with patient responses. Full approval requires clinical evidence a drug will help patient outcomes. Shares of Lilly were down 2% in after hours trading at $343.99.Donanemab is in the same class as lecanemab, a treatment for early Alzheimer's which was given accelerated approval by the FDA earlier this month. It is being marketed under the brand name Leqembi by partners Eisai Co Ltd and Biogen Inc, which have said they are in the process of seeking full FDA approval.Shares of Biogen were up 3% after hours at $289.Sales of amyloid-lowering Alzheimer's drugs, which need to be given by infusion, are expected to be minimal until they receive standard FDA approval. That is because the U.S. government's Medicare health plan for people over age 65 currently reimburses amyloid-targeting drugs with accelerated approval only if patients are enrolled in a validated clinical study. (Reporting by Sriparna Roy in Bengaluru; Editing by Sriraj Kalluvila, David Gregorio and Chris Reese)By Deena Beasley \ No newline at end of file diff --git a/news/BIIB/2023.01.20/Eli Lilly Alzheimer's drug setback extends rival Biogen's lead - analysts.txt b/news/BIIB/2023.01.20/Eli Lilly Alzheimer's drug setback extends rival Biogen's lead - analysts.txt new file mode 100644 index 0000000000000000000000000000000000000000..143c0ae7586837d3e35a3b97b152f2d11e226a60 --- /dev/null +++ b/news/BIIB/2023.01.20/Eli Lilly Alzheimer's drug setback extends rival Biogen's lead - analysts.txt @@ -0,0 +1,26 @@ +Jan 20 (Reuters) - The U.S. health regulator's rejection +of accelerated approval for Eli Lilly and Co's +Alzheimer's disease drug extends the market lead for rivals +Eisai and Biogen's treatment by months, analysts said.The U.S. Food and Drug Administration (FDA) declined to +approve donanemab because Lilly had not submitted data from +enough patients who were treated for at least a year, the +drugmaker said late Thursday."This is a modest positive for Biogen" because it delays +donanemab's launch, Jefferies analyst Michael Yee said, adding +that Eli Lilly could file for traditional approval by mid-2023.Lilly's shares fell 1.1% to $347.23 in premarket trading."Lilly's inability to launch donanemab near-term will +prevent them from expediting their launch post-full approval by +depriving them of the ability to begin to educate physicians and +patients," said Citi analyst Andrew Baum.The setback for Lilly comes just weeks after the FDA granted +Biogen Inc and Japanese drugmaker Eisai Co Ltd's +accelerated approval for their Alzheimer's drug +Leqembi.Analysts are waiting for the traditional approval of +Biogen's drug and for wider health insurance coverage before +they expect sales of the drug to pick up.Still, "we think, at minimum, it gives Eisai some extra time +on the market... to build a lead over donanemab", said Baird +analyst Brian Skorney.Lilly expects to report results from a confirmatory +late-stage trial of donanemab in the second quarter, which would +form the basis of the drug's application seeking traditional FDA +approval shortly thereafter."But if there is anything wrong with the (Eli Lilly) data +set, it is easier to reject an unapproved drug than remove an +approved drug from market," said Skorney. +(Reporting by Khushi Mandowara in Bengaluru; Editing by +Shailesh Kuber) \ No newline at end of file diff --git a/news/BIIB/2023.01.24/Biogen : Shares Update on FDA Advisory Committee Meeting for Tofersen.txt b/news/BIIB/2023.01.24/Biogen : Shares Update on FDA Advisory Committee Meeting for Tofersen.txt new file mode 100644 index 0000000000000000000000000000000000000000..c71625dcee6ee6a1cde214f6d0c71d9565f04b36 --- /dev/null +++ b/news/BIIB/2023.01.24/Biogen : Shares Update on FDA Advisory Committee Meeting for Tofersen.txt @@ -0,0 +1,44 @@ + + + + On January 23, 2023, the Federal Register published a notice that the U.S. Food and Drug Administration (FDA) will convene a virtual meeting of the Peripheral and Central Nervous System Drugs Advisory Committee for the New Drug Application (NDA) for tofersen, an investigational product for the treatment of superoxide dismutase 1 (SOD1) amyotrophic lateral sclerosis (ALS). The advisory committee meeting is scheduled for March 22, 2023 and will be available for live streaming. + + + The FDA intends to make the advisory committee meeting's background materials available to the public no later than two business days before the meeting, according to the notice. The FDA said if they are unable to post the background materials on its website prior to the advisory committee meeting, the background material will be made publicly available on the FDA's website at the time of the advisory committee meeting. + + + SOD1-ALS is an ultra-rare genetic form of ALS that affects approximately 330 people in the U.S.1, it is progressive, leads to the loss of everyday functions and is uniformly fatal. Biogen's NDA for tofersen was accepted for priority review by the FDA under the accelerated approval pathway and has a Prescription Drug User Fee Act action date of April 25, 2023. + + +Biogen Safe Harbor + + + This statement includes forward-looking statements based on Biogen's current expectations and beliefs that are subject to risks and uncertainties. Biogen's actual results may differ materially. Please consult the risk factors section of Biogen's SEC filings. + + +References: + + + + Brown CA, Lally C, Kupelian V, Flanders WD. Estimated Prevalence and Incidence of Amyotrophic Lateral Sclerosis and SOD1 and C9orf72 Genetic Variants. Neuroepidemiology. 2021 + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Biogen Inc. published this content on 23 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 17:34:28 UTC. + + diff --git a/news/BIIB/2023.01.25/Lonza underscores growth prospects with share buy-back, dividend hike.txt b/news/BIIB/2023.01.25/Lonza underscores growth prospects with share buy-back, dividend hike.txt new file mode 100644 index 0000000000000000000000000000000000000000..77d9a681861d7974fe2bd9541179f3ad509b7f79 --- /dev/null +++ b/news/BIIB/2023.01.25/Lonza underscores growth prospects with share buy-back, dividend hike.txt @@ -0,0 +1 @@ +In a statement on Wednesday, Lonza predicted its 2023 core EBITDA margin would dip to between 30% and 31%, down from 32.1% in 2022, as last year's boost in demand for COVID-19 vaccine manufacturing services is waning. But it reiterated a 33%-35% margin target for 2024.The group proposed an annual dividend of 3.50 francs per share, up 17% year-on-year, and said the share buy-back programme would be launched this year."We are also pleased to confirm our Mid-Term Guidance 2024, supported by new capacity coming online and robust industry fundamentals," said Chief Executive Pierre-Alain Ruffieux.The Basel-based firm also reported 2022 core EBITDA, or earnings before interest, taxes, depreciation, amortisation and special items, of 2.0 billion Swiss francs, up 19.8% and slightly ahead of market expectations.($1 = 0.9226 Swiss francs)($1 = 0.9223 Swiss francs) (Reporting by Ludwig Burger in Frankfurtby and Tristan Chabba in Gdansk; Editing by Paul Carrel)By Ludwig Burger and Tristan Chabba \ No newline at end of file diff --git a/news/BIIB/2023.01.26/Marketing authorization application for lecanemab as treatment for early alzheimer's di...txt b/news/BIIB/2023.01.26/Marketing authorization application for lecanemab as treatment for early alzheimer's di...txt new file mode 100644 index 0000000000000000000000000000000000000000..2b7b67674120c38412b8379c5eaefdf6ce981d31 --- /dev/null +++ b/news/BIIB/2023.01.26/Marketing authorization application for lecanemab as treatment for early alzheimer's di...txt @@ -0,0 +1,66 @@ + + +TOKYO and CAMBRIDGE, Mass., Jan. 26, 2023 /PRNewswire/ -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") and Biogen Inc. (Nasdaq: BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, "Biogen") announced today that the European Medicines Agency (EMA) has accepted a marketing authorization application (MAA) for lecanemab (Brand Name in the U.S.: LEQEMBI™), an investigational anti-amyloid beta (Aβ) protofibril* antibody, for the treatment of early Alzheimer's disease (mild cognitive impairment due to Alzheimer's disease (AD) and mild AD dementia) with confirmed amyloid pathology, for review following a standard timeline. + + + + + + + +In the U.S., lecanemab was granted accelerated approval as a treatment for AD by the U.S. Food and Drug Administration (FDA) on January 6, 2023. On the same day, Eisai submitted a Supplemental Biologics License Application (sBLA) to the FDA for approval under the traditional pathway based on the results from the Phase III Clarity AD confirmatory study. In Japan, Eisai submitted a marketing authorization application to the Pharmaceuticals and Medical Devices Agency (PMDA) on January 16, 2023. In China, Eisai has initiated submission of data for a BLA to the National Medical Products Administration (NMPA) of China in December 2022. +Eisai serves as the lead of lecanemab development and regulatory submissions globally with both Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority. +* Protofibrils are large Aβ aggregated soluble species of 75-500 Kd.1,2 +Contacts +MEDIA CONTACT: +Eisai Co., Ltd. +Public Relations Department +TEL: +81-(0)3-3817-5120 +  +Eisai Europe, Ltd. +(Europe, Australia, New Zealand and Russia) +EMEA Communications Department +EMEA-comms@eisai.net +TEL: +44-(0)7739-600-678 +  +INVESTOR CONTACT: +Eisai Co., Ltd. +Investor Relations Department +TEL: +81-(0)3-3817-5122 +MEDIA CONTACT: +Biogen Inc. +Natacha Gassenbach ++ 1-857-777-6573 +public.affairs@biogen.com +  +INVESTOR CONTACT: +Biogen Inc. +Mike Hencke ++ 1-781-464-2442 +IR@biogen.com +[Notes to editors]1.  About Lecanemab Lecanemab (Brand Name in the U.S.: LEQEMBI™) is the result of a strategic research alliance between Eisai and BioArctic. Lecanemab is a humanized immunoglobulin gamma 1 (IgG1) monoclonal antibody directed against aggregated soluble (protofibril) and insoluble forms of amyloid-beta (Aβ). Lecanemab selectively binds and eliminates Aβ protofibrils that are thought to contribute to the neurotoxicity in AD. As such, lecanemab may have the potential to have an effect on disease pathology and to slow down the progression of the disease. In the U.S., LEQEMBI was granted accelerated approval by the U.S. Food and Drug Administration (FDA) on January 6, 2023. LEQEMBI is indicated for the treatment of Alzheimer's disease (AD) in the U.S. Treatment with LEQEMBI should be initiated in patients with mild cognitive impairment or mild dementia stage of disease, the population in which treatment was initiated in clinical trials. There are no safety or effectiveness data on initiating treatment at earlier or later stages of the disease than were studied. This indication is approved under accelerated approval based on reduction in Aβ plaques observed in patients treated with LEQEMBI. Continued approval for this indication may be contingent upon verification of clinical benefit in a confirmatory trial. The Clarity AD study of lecanemab met its primary endpoint and all key secondary endpoints with highly statistically significant results.  +Please see full Prescribing Information in the United States. +Eisai has completed a lecanemab subcutaneous bioavailability study, and subcutaneous dosing is currently being evaluated in the Clarity AD (Study 301) OLE. +Since July 2020 the Phase 3 clinical study (AHEAD 3-45) for individuals with preclinical AD, meaning they are clinically normal and have intermediate or elevated levels of amyloid in their brains, has been ongoing. AHEAD 3-45 is conducted as a public-private partnership between the Alzheimer's Clinical Trial Consortium that provides the infrastructure for academic clinical trials in AD and related dementias in the U.S., funded by the National Institute on Aging, part of the National Institutes of Health, Eisai and Biogen. +Since January 2022, the Tau NexGen clinical study for Dominantly Inherited AD (DIAD), that is conducted by the Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU), led by Washington University School of Medicine in St. Louis, has been ongoing.  +2.  About the Collaboration between Eisai and Biogen for ADEisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority. +3.  About the Collaboration between Eisai and BioArctic for ADSince 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015. +4.  About Eisai Co., Ltd.Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care (hhc) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology. +In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), with working on various activities together with global partners. +For more information about Eisai, please visit www.eisai.com (for global headquarters: Eisai Co., Ltd.), and connect with us on Twitter @Eisai_SDGs. +5.  About BiogenAs pioneers in neuroscience, Biogen discovers, develops, and delivers worldwide innovative therapies for people living with serious neurological diseases as well as related therapeutic adjacencies. One of the world's first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Sir Kenneth Murray, and Nobel Prize winners Walter Gilbert and Phillip Sharp. Today, Biogen has a leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, and developed the first approved treatment to address a defining pathology of Alzheimer's disease. Biogen is also commercializing biosimilars and focusing on advancing one of the industry's most diversified pipelines in neuroscience that will transform the standard of care for patients in several areas of high unmet need. +The company routinely posts information that may be important to investors on its website at www.biogen.com. Follow Biogen on social media – Twitter, LinkedIn, Facebook, YouTube. +Biogen Safe Harbor This news release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about the potential clinical effects of lecanemab; the potential benefits, safety and efficacy of lecanemab; potential regulatory discussions, submissions and approvals and the timing thereof; the treatment of Alzheimer's disease; the anticipated benefits and potential of Biogen's collaboration arrangements with Eisai; the potential of Biogen's commercial business and pipeline programs, including lecanemab; and risks and uncertainties associated with drug development and commercialization. These statements may be identified by words such as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "possible," "potential," "will," "would" and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical studies may not be indicative of full results or results from later stage or larger scale clinical studies and do not ensure regulatory approval. You should not place undue reliance on these statements or the scientific data presented. +These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including without limitation unexpected concerns that may arise from additional data, analysis or results obtained during clinical studies, including the Clarity AD clinical trial and AHEAD 3-45 study; the occurrence of adverse safety events; risks of unexpected costs or delays; the risk of other unexpected hurdles; regulatory submissions may take longer or be more difficult to complete than expected; regulatory authorities may require additional information or further studies, or may fail or refuse to approve or may delay approval of Biogen's drug candidates, including lecanemab; actual timing and content of submissions to and decisions made by the regulatory authorities regarding lecanemab; uncertainty of success in the development and potential commercialization of lecanemab; failure to protect and enforce Biogen's data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; product liability claims; third party collaboration risks; and the direct and indirect impacts of the ongoing COVID-19 pandemic on Biogen's business, results of operations and financial condition. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Biogen's expectations in any forward-looking statement. Investors should consider this cautionary statement as well as the risk factors identified in Biogen's most recent annual or quarterly report and in other reports Biogen has filed with the U.S. Securities and Exchange Commission. These statements are based on Biogen's current beliefs and expectations and speak only as of the date of this news release. Biogen does not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise. +References +1. +"Lecanemab Sweeps up Toxic AΒ Protofibrils, Catches Eyes of Trialists." ALZFORUM, ALZFORUM, 21 Nov. 2021, https://www.alzforum.org/news/conference-coverage/lecanemab-sweeps-toxic-av-protofibrils-catches-eyes-trialists. +2. +Sehlin D, Englund H, Simu B, Karlsson M, Ingelsson M, Nikolajeff F, Lannfelt L, Pettersson FE. Large aggregates are the major soluble Aβ species in AD brain fractionated with density gradient ultracentrifugation. PLoS One. 2012;7(2): e32014. doi: 10.1371/journal.pone.0032014. Epub 2012 Feb 15. PMID: 22355408; PMCID: PMC3280222. + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/marketing-authorization-application-for-lecanemab-as-treatment-for-early-alzheimers-disease-accepted-by-european-medicines-agency-301731983.html +SOURCE Eisai Inc. + + diff --git a/news/BIIB/2023.01.29/Japan gives priority review status to Alzheimer's drug developed by Eisai, Biogen.txt b/news/BIIB/2023.01.29/Japan gives priority review status to Alzheimer's drug developed by Eisai, Biogen.txt new file mode 100644 index 0000000000000000000000000000000000000000..b6a940b30883ce80d26ac114d825f02ab429760b --- /dev/null +++ b/news/BIIB/2023.01.29/Japan gives priority review status to Alzheimer's drug developed by Eisai, Biogen.txt @@ -0,0 +1,22 @@ +Jan 29 (Reuters) - Japanese drugmaker Eisai Co Ltd +and U.S. biotech firm Biogen Inc said in a +joint statement that the Japanese Ministry of Health, Labour and +Welfare has granted priority review status to their Alzheimer's +disease treatment.The drug, lecanemab, which was recently granted accelerated +approval in the United States, is an antibody that has been +shown to remove sticky deposits of a protein called amyloid beta +from the brains of patients in the early stages of the +mind-wasting disease.In their Jan. 29 statement, the companies said priority +review in Japan is granted to new medicines recognised as having +high medical utility for serious diseases. Once the priority +status has been granted, the target total review period is +shortened, they said.The pair's application for priority status was based on +results from a late-stage study in which the drug was shown to +reduce the rate of cognitive decline in patients with early +Alzheimer's by 27%, compared with a placebo.Nearly all previous experimental drugs using the same +approach have failed.Earlier this month, Eisai also applied for full approval of +the drug with the U.S. Food and Drug Administration (FDA) as a +treatment for patients in the earliest stages of the +neurodegenerative disease. +(Reporting by Baranjot Kaur in Bengaluru; Editing by Stephen +Coates and Kenneth Maxwell) \ No newline at end of file diff --git a/news/BIIB/2023.01.29/Japan grants priority review status to Alzheimer's treatment from Eisai-Biogen.txt b/news/BIIB/2023.01.29/Japan grants priority review status to Alzheimer's treatment from Eisai-Biogen.txt new file mode 100644 index 0000000000000000000000000000000000000000..29ab1085518954dd0f2a279b0424784b1bcf1daf --- /dev/null +++ b/news/BIIB/2023.01.29/Japan grants priority review status to Alzheimer's treatment from Eisai-Biogen.txt @@ -0,0 +1 @@ +The drug, lecanemab, which was recently granted accelerated approval in the United States, is an antibody that has been shown to remove sticky deposits of a protein called amyloid beta from the brains of patients in the early stages of the mind-wasting disease. (Reporting by Baranjot Kaur in Bengaluru; Editing by Stephen Coates) \ No newline at end of file diff --git a/news/BIIB/2023.01.29/Lecanemab receives priority review status in japan.txt b/news/BIIB/2023.01.29/Lecanemab receives priority review status in japan.txt new file mode 100644 index 0000000000000000000000000000000000000000..1625132c000f9c38fc0c8c0979154a25e5fc1cf8 --- /dev/null +++ b/news/BIIB/2023.01.29/Lecanemab receives priority review status in japan.txt @@ -0,0 +1,71 @@ + + +TOKYO and CAMBRIDGE, Mass., January 29, 2023  /PRNewswire/ -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") and Biogen Inc. (Nasdaq: BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, "Biogen") announced today that an application for manufacturing and marketing approval for lecanemab (generic name, U.S. brand name: LEQEMBI™), an anti-amyloid-β (Aβ) protofibril* antibody, in Japan has been designated for Priority Review by the Japanese Ministry of Health, Labour and Welfare (MHLW). Priority Review in Japan is granted to new medicines recognized as having high medical utility for serious diseases, and once designated for Priority Review, the target total review period is shortened. + + + + + + + +In Japan, Eisai submitted the manufacturing and marketing approval for lecanemab to the Pharmaceuticals and Medical Devices Agency (PMDA) on January 16, 2023. This application is based on the results of the Phase III Clarity AD study and the Phase IIb clinical study (Study 201), which demonstrated that lecanemab treatment showed a reduction of clinical decline in early AD. +Lecanemab selectively binds and eliminates soluble, toxic Aβ aggregates (protofibrils) that are thought to contribute to the neurotoxicity in AD. As such, lecanemab may have the potential to have an effect on disease pathology and to slow down the progression of the disease. The Clarity AD study of lecanemab met its primary endpoint and all key secondary endpoints with highly statistically significant results. In November 2022, the results of the Clarity AD study were presented at the 2022 Clinical Trials on Alzheimer's Disease (CTAD) conference and simultaneously published in the New England Journal of Medicine, a peer-reviewed medical journal. +In the U.S., lecanemab was granted accelerated approval as a treatment for AD by the U.S. Food and Drug Administration (FDA) on January 6, 2023. On the same day, Eisai submitted a Supplemental Biologics License Application (sBLA) to the FDA for approval under the traditional pathway. In Europe, Eisai submitted a marketing authorization application (MAA) to the European Medicines Agency (EMA) on January 9, 2023 and accepted on January 26, 2023. In China, Eisai initiated submission of data for a BLA to the National Medical Products Administration (NMPA) in December 2022. +Eisai serves as the lead of lecanemab development and regulatory submissions globally with both Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority. +* Protofibrils are large Aβ aggregated soluble species of 75-500 Kd. 1,2 +  +Contacts +MEDIA CONTACT: +Eisai Co., Ltd. +Public Relations Department +TEL: +81-(0)3-3817-5120 +  +Eisai Inc. (U.S.) +Libby Holman ++ 1-201-753-1945 +Libby_Holman@eisai.com +  +INVESTOR CONTACT: +Eisai Co., Ltd. +Investor Relations Department +TEL: +81-(0)03-3817-5122 +MEDIA CONTACT: +Biogen Inc. +Natacha Gassenbach ++ 1-857-777-6573 +public.affairs@biogen.com +  +INVESTOR CONTACT: +Biogen Inc. +Mike Hencke ++ 1-781-464-2442 +IR@biogen.com +  +[Notes to editors]1.  About Priority Review in JapanPriority review is granted to medicines that meet all of the following requirements. In addition, medicines designated as orphan drugs and pioneering medicines will be given priority for review.i. the qualifying disease is deemed to be serious; andii. the efficacy or safety of the product is recognized to be clearly superior to that of existing medicines, medical devices, or regenerative medical products or treatment methods from a medical point of view. +2.  About Lecanemab Lecanemab (Brand Name in the U.S.: LEQEMBI™) is the result of a strategic research alliance between Eisai and BioArctic. Lecanemab is a humanized immunoglobulin gamma 1 (IgG1) monoclonal antibody directed against aggregated soluble (protofibril) and insoluble forms of amyloid-beta (Aβ). Lecanemab selectively binds and eliminates Aβ protofibrils that are thought to contribute to the neurotoxicity in AD. As such, lecanemab may have the potential to have an effect on disease pathology and to slow down the progression of the disease. In the U.S., LEQEMBI was granted accelerated approval by the U.S. Food and Drug Administration (FDA) on January 6, 2023. LEQEMBI is indicated for the treatment of Alzheimer's disease (AD) in the U.S. Treatment with LEQEMBI should be initiated in patients with mild cognitive impairment or mild dementia stage of disease, the population in which treatment was initiated in clinical trials. There are no safety or effectiveness data on initiating treatment at earlier or later stages of the disease than were studied. This indication is approved under accelerated approval based on reduction in Aβ plaques observed in patients treated with LEQEMBI. Continued approval for this indication may be contingent upon verification of clinical benefit in a confirmatory trial. The Clarity AD study of lecanemab met its primary endpoint and all key secondary endpoints with highly statistically significant results. +Please see full Prescribing Information in the United States. +Eisai submitted an application for manufacturing and marketing approval to the Pharmaceuticals and Medical Devices Agency (PMDA) on January 16, 2023 in Japan. Eisai utilized the prior assessment consultation system of PMDA, with the aim of shortening the review period for lecanemab. In the U.S., Eisai submitted a Supplemental Biologics License Application (sBLA) to the FDA for approval under the traditional pathway on January 6, 2023. In Europe, Eisai submitted a marketing authorization application (MAA) to the European Medicines Agency (EMA) on January 9, 2023 and accepted on January 26, 2023. In China, Eisai initiated submission of data for a BLA to the National Medical Products Administration (NMPA) of China in December 2022. +Eisai has completed a lecanemab subcutaneous bioavailability study, and subcutaneous dosing is currently being evaluated in the Clarity AD OLE. +Since July 2020 the Phase 3 clinical study (AHEAD 3-45) for individuals with preclinical AD, meaning they are clinically normal and have intermediate or elevated levels of amyloid in their brains, has been ongoing. AHEAD 3-45 is conducted as a public-private partnership between the Alzheimer's Clinical Trial Consortium that provides the infrastructure for academic clinical trials in AD and related dementias in the U.S., funded by the National Institute on Aging, part of the National Institutes of Health, Eisai and Biogen. +Since January 2022, the Tau NexGen clinical study for Dominantly Inherited AD (DIAD), that is conducted by the Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU), led by Washington University School of Medicine in St. Louis, has been ongoing. +3.  About the Collaboration between Eisai and Biogen for ADEisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority. +4.  About the Collaboration between Eisai and BioArctic for ADSince 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015. +5.  About Eisai Co., Ltd.Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care (hhc) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology. +In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), with working on various activities together with global partners. +For more information about Eisai, please visit www.eisai.com (for global headquarters: Eisai Co., Ltd.), and connect with us on Twitter @Eisai_SDGs. +6.  About BiogenAs pioneers in neuroscience, Biogen discovers, develops, and delivers worldwide innovative therapies for people living with serious neurological diseases as well as related therapeutic adjacencies. One of the world's first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Sir Kenneth Murray, and Nobel Prize winners Walter Gilbert and Phillip Sharp. Today, Biogen has a leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, and developed the first approved treatment to address a defining pathology of Alzheimer's disease. Biogen is also commercializing biosimilars and focusing on advancing one of the industry's most diversified pipelines in neuroscience that will transform the standard of care for patients in several areas of high unmet need. +We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media - Twitter, LinkedIn, Facebook, YouTube. +Biogen Safe Harbor This news release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about the potential clinical effects of lecanemab; the potential benefits, safety and efficacy of lecanemab; potential regulatory discussions, submissions and approvals and the timing thereof; the treatment of Alzheimer's disease; the anticipated benefits and potential of Biogen's collaboration arrangements with Eisai; the potential of Biogen's commercial business and pipeline programs, including lecanemab; and risks and uncertainties associated with drug development and commercialization. These statements may be identified by words such as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "possible," "potential," "will," "would" and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical studies may not be indicative of full results or results from later stage or larger scale clinical studies and do not ensure regulatory approval. You should not place undue reliance on these statements or the scientific data presented. +These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including without limitation unexpected concerns that may arise from additional data, analysis or results obtained during clinical studies, including the Clarity AD clinical trial and AHEAD 3-45 study; the occurrence of adverse safety events; risks of unexpected costs or delays; the risk of other unexpected hurdles; regulatory submissions may take longer or be more difficult to complete than expected; regulatory authorities may require additional information or further studies, or may fail or refuse to approve or may delay approval of Biogen's drug candidates, including lecanemab; actual timing and content of submissions to and decisions made by the regulatory authorities regarding lecanemab; uncertainty of success in the development and potential commercialization of lecanemab; failure to protect and enforce Biogen's data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; product liability claims; third party collaboration risks; and the direct and indirect impacts of the ongoing COVID-19 pandemic on Biogen's business, results of operations and financial condition. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Biogen's expectations in any forward-looking statement. Investors should consider this cautionary statement as well as the risk factors identified in Biogen's most recent annual or quarterly report and in other reports Biogen has filed with the U.S. Securities and Exchange Commission. These statements are based on Biogen's current beliefs and expectations and speak only as of the date of this news release. Biogen does not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise. +References +1. +"Lecanemab Sweeps up Toxic AΒ Protofibrils, Catches Eyes of Trialists." ALZFORUM, ALZFORUM, 21 Nov. 2021, https://www.alzforum.org/news/conference-coverage/lecanemab-sweeps-toxic-av-protofibrils-catches-eyes-trialists. +2. +Sehlin D, Englund H, Simu B, Karlsson M, Ingelsson M, Nikolajeff F, Lannfelt L, Pettersson FE. Large aggregates are the major soluble Aβ species in AD brain fractionated with density gradient ultracentrifugation. PLoS One. 2012;7(2): e32014. doi: 10.1371/journal.pone.0032014. Epub 2012 Feb 15. PMID: 22355408; PMCID: PMC3280222. +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/lecanemab-receives-priority-review-status-in-japan-301733026.html +SOURCE Eisai Inc. + + diff --git a/news/BIIB/2023.01.30/Global markets live: Toyota, Unilever, Bayer, Goldman Sachs, Biogen....txt b/news/BIIB/2023.01.30/Global markets live: Toyota, Unilever, Bayer, Goldman Sachs, Biogen....txt new file mode 100644 index 0000000000000000000000000000000000000000..b5cdfe6add4b2877cf280d58794a4ca1588eee73 --- /dev/null +++ b/news/BIIB/2023.01.30/Global markets live: Toyota, Unilever, Bayer, Goldman Sachs, Biogen....txt @@ -0,0 +1,29 @@ + +  +  +  +Corporate results: + +Philips: Annual results are higher than expected. The group will cut 6000 more jobs. +Ryanair: Q3 fiscal revenue comes in at €2.31bn. + +  +In other news: + +Toyota Motor sold 10.5 million vehicles in 2022, keeping its title as the world's number one automaker. +Volkswagen expects to reap the benefits of its heavy investments from 2026. +Unilever appoints Hein Schumacher as CEO. +Eni signs an $8 billion gas deal in Libya. +Baidu plans to launch an artificial intelligence similar to ChatGPT by March in China. +Deka calls for the swift replacement of Bayer CEO Werner Baumann. +Elon Musk is under investigation by the SEC for his role in reporting on Tesla's self-driving capabilities. +The Italian Treasury has signed a letter of intent with Lufthansa to sell a minority stake in state-owned ITA Airways (formerly Alitalia). +Rheinmetall wants to increase its arms production. +Adani Enterprises calls Hindenburg's bearish study a premeditated stock fraud. +The bankrupt Flybe airline ceases operations and cancels all its flights. +Wall Street-listed Chinese companies Alibaba, Bilibili, Pinduoduo and JD.Com were down 4 percent to 7.5 percent in premarket trading after Mike McCaul, the new chairman of the U.S. House of Representatives' Foreign Affairs Committee, said Sunday that the risks of a conflict with China over Taiwan are "very high". +Goldman Sachs Group has restructured its assets in Russia, which could pave the way for a full exit from the country, RBC reported Monday, citing two investment market sources. +Biogen and Eisai announced in a joint statement that the Japanese Ministry of Health has granted priority review status to the two companies' Alzheimer's disease treatment lecanemab. +Boeing - The U.S. aircraft manufacturer will deliver on Tuesday to Atlas Air the last Boeing 747, a twin-aisle aircraft designed in the late 1960s to meet the demand for mass travel and which will be discontinued. + +Today's main earnings reports: Unicredit, Sumitomo Mitsui, NXP Semiconductors, Canon, Philips, Galp Energia, Computacenter, Interroll... All the agenda here. diff --git a/news/BIIB/2023.01.30/It's all about central banks this week.txt b/news/BIIB/2023.01.30/It's all about central banks this week.txt new file mode 100644 index 0000000000000000000000000000000000000000..b0c68f0a516bf423e0dee1534c18d36768253e7f --- /dev/null +++ b/news/BIIB/2023.01.30/It's all about central banks this week.txt @@ -0,0 +1,38 @@ + +I think it's safe to say that the Fed's decision on Wednesday will be this week's focus. For the new readers or listeners among you, I will explain why. This is because investors generally try to anticipate what is going to happen in the foreseeable future to optimize their asset allocations. For example, investing in companies that have strong earnings or low debt when the economic outlook deteriorates. Or investing in cyclical companies whose earnings are soaring when the economy is about to rebound. There are many classic patterns of this type in finance. + +Since the financial crisis of 2008, central banks have taken control of economic destinies by drowning fears of financial collapse in new money. They have accustomed investors to evolving in a world of abundant liquidity. As a result, these investors have taken increasingly risky bets. Yes, when money flows freely, it can irrigate areas where investors would not even dream of going under normal conditions. Speculative bubbles are formed. Some of them burst in 2022, notably because central banks were forced to reduce access to free money for fear of an inflationary spiral. To do so, they unraveled their asset purchase programs while raising their key rates. Investors then drastically reduced their riskiest bets: goodbye SPAC, meme-shares, companies without business models, crazy crypto-currencies, etc. Currently, the market is watching for the moment when central banks (and when I say central banks, it's mostly the Fed) will stop raising rates. Because that means two things: one, that the economic situation has stabilized. On the other hand, it means that the time when rates will come down again is approaching. In other words, a new growth cycle could appear and money will be cheaper. Hence the return of risk appetite. +This is more or less the situation now. And investors are looking to get two steps ahead. They know that the Fed is going to raise rates again, probably twice by the end of spring, but they are already gambling on the upturn that they hope will follow. To avoid missing the bandwagon, they're getting on the bandwagon early, if you will. On Wednesday, the Fed will likely announce another rate hike, but limited to the bare minimum, 25 basis points. Will it try to cool the market's ardor? This is the real unknown of the week. +Because January saw buyers return to the stock market in droves. In particular on cyclical or slightly daring bets. The taste for risk can be seen in the index charts: the MSCI China, the Hang Seng and the Argentine Merval rose by more than 14% in January. The Nasdaq, which was crushed in 2022, has recovered 11% in one month. Many markets have gained 9 to 10% since January 1, which is exceptional: Paris, Madrid and Seoul in particular. Last week, American indices were at their best, while Europe, which had made a better start in 2023, made only modest progress. +The week will be marked by the monetary policy decisions of three central banks. The Fed on Wednesday, then the European Central Bank and the Bank of England on Thursday. There will also be the earnings reports of some 40 companies worth more than $100 billion on the agenda this week. In the United States, Apple, Alphabet and Amazon on the evening of February 2. In Europe, Novo Nordisk, Novartis, Roche, Shell and Sanofi among others. But they are not the only ones and a few hundred smaller companies are also scheduled. +To end this column, I will mention a few important developments over the weekend: The United States, Japan and the Netherlands have reached an agreement to limit China's access to certain key semiconductor technologies. On a related topic, the Wall Street Journal revealed that China's main military nuclear lab continued to use advanced U.S. chips despite the 1997 embargo. Meanwhile, House Speaker Kevin McCarthy announced that he would meet with Speaker Joe Biden on Wednesday to discuss raising the federal debt ceiling. +Mainland Chinese equity markets reopened this morning after a week-long break for the Lunar New Year. +This morning, U.S. futures were all down, with the Nasdaq 100 losing 1.2% due to a fall in growth stocks ahead of central banks decisions. +  +Economic highlights of the day: +There aren't any important indicators today in the US. +The dollar is down 0.2% against the euro to EUR 0.9179 and is stable against the pound at GBP 0.8070. The ounce of gold is trading at USD 1925. Oil is losing ground, with North Sea Brent crude at USD 86.4 per barrel and US light crude WTI at USD 79.78. The yield on 10-year US debt is stagnant at 3.50%. Bitcoin is down to USD 23,000. +  +In corporate news: +* Apple, Amazon and Alphabet, which are due to report their fourth quarter results this week, are each down about 1.5% in premarket trading. +* Wall Street-listed Chinese companies Alibaba, Bilibili, Pinduoduo and JD.Com are down 4 percent to 7.5 percent in premarket trading after Mike McCaul, the new chairman of the U.S. House of Representatives' Foreign Affairs Committee, said Sunday that the risks of a conflict with China over Taiwan are "very high". +* Goldman Sachs Group has restructured its assets in Russia, which could pave the way for a full exit from the country, RBC reported Monday, citing two investment market sources. +* Biogen and Eisai announced in a joint statement that the Japanese Ministry of Health has granted priority review status to the two companies' Alzheimer's disease treatment lecanemab. +* Boeing - The U.S. aircraft manufacturer will deliver on Tuesday to Atlas Air the last Boeing 747, a twin-aisle aircraft designed in the late 1960s to meet the demand for mass travel and which will be discontinued. +  +Analyst recommendations: + +Axalta: Citi raised the recommendation to buy from neutral. PT up 20% to $35.19. +Eastman Chemical: Vertical Research Partners downgrades to hold from buy. PT up 6% to $92. +Federal Realty: Compass Point Research & Trading raised its recommendation to buy from neutral. PT up 12% to $125. +HCA Healthcare: Truist Securities raises price target to $290 from $270. Maintains buy rating. +Kohl's: Goldman Sachs reinstated coverage with a recommendation of sell. PT down 14% to $27. +Lockheed Martin: DZ Bank AG upgrades to buy from hold. PT up 14% to $523. +Macy's: Goldman Sachs reinstated coverage with a recommendation of buy. PT up 21% from last price to $28. +Nordstrom: Goldman Sachs reinstated coverage with a recommendation of neutral. PT up 8.6%  from last price to $20. +Regeneron: Cowen upgrades to outperform from market perform. PT jumps 18% to $875. +Rentokil: Numis moves from accumulate to hold targeting GBp 470. +Tanger: Compass Point Research & Trading LLC downgrades to neutral from buy. PT up 9% to $21. +Tesla: Berenberg upgrades to buy from hold. PT up 12% to $200. +Uber: MoffettNathanson initiated coverage with a recommendation of outperform. PT set to $47. + diff --git a/news/BIIB/2023.02.06/Biogen and Sage Therapeutics Announce FDA Accepts Filing of New Drug Application and Gr...txt b/news/BIIB/2023.02.06/Biogen and Sage Therapeutics Announce FDA Accepts Filing of New Drug Application and Gr...txt new file mode 100644 index 0000000000000000000000000000000000000000..4430da51dc915020b9cbece182217bd0ae72bcdd --- /dev/null +++ b/news/BIIB/2023.02.06/Biogen and Sage Therapeutics Announce FDA Accepts Filing of New Drug Application and Gr...txt @@ -0,0 +1 @@ +CAMBRIDGE, Mass., Feb. 06, 2023 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) and Sage Therapeutics, Inc. (Nasdaq: SAGE) announced the U.S. Food and Drug Administration (FDA) has accepted the filing of a New Drug Application (NDA) for zuranolone in the treatment of major depressive disorder (MDD) and postpartum depression (PPD). Zuranolone is an investigational drug being evaluated as a 14-day, rapid-acting, once-daily, oral treatment in adults with MDD and PPD. The application has been granted priority review and the FDA has assigned a Prescription Drug User Fee Act (PDUFA) action date of August 5, 2023.“We see potential for zuranolone, if approved, to be a meaningful new option that can help address the serious unmet need faced by the diverse populations struggling with MDD and PPD,” said Priya Singhal, M.D., M.P.H., Executive Vice President, Head of Development and Interim Head of Research and Global Safety and Regulatory Sciences at Biogen. “The FDA filing acceptance and granting of priority review are important milestones in the mission Biogen and our collaboration partner Sage share to advance the understanding and treatment of depression.”Depression is one of the leading contributors to disability worldwide.1 It is estimated that more than 21 million adults in the U.S. experienced at least one major depressive episode in 2020, with nearly 14 million people diagnosed with major depressive disorder,2 and an estimated 500,000 cases of PPD annually.3 Symptoms of MDD and PPD have been shown to have an impact on a person’s overall quality of life, functioning and well-being. In 2018, the incremental economic burden of MDD was an estimated $326 billion in the U.S. alone.4The zuranolone NDA includes data from the LANDSCAPE and NEST clinical development programs as well as a Phase 2 study of zuranolone completed by Shionogi in Japan in adults with MDD. The LANDSCAPE program includes five studies of zuranolone in adults with MDD (MDD-201B, MOUNTAIN, SHORELINE, WATERFALL, and CORAL). The NEST program includes two studies of zuranolone in adult women with PPD (ROBIN and SKYLARK).“We feel a tremendous responsibility to patients with MDD and PPD to deliver a potential new treatment option, which is so desperately needed. Most current approved therapies may take weeks or months to work. We are committed to advancing treatments that could help physicians and patients by addressing depression symptoms quickly,” said Laura Gault, M.D., Ph.D., Chief Medical Officer at Sage. “We believe zuranolone, if approved, could offer a new way for physicians to support patients.”Zuranolone, a neuroactive steroid, has a novel mechanism of action as a positive allosteric modulator of GABA-A receptors. In people with depression, it is thought to work by rapidly rebalancing dysregulated neuronal networks to help reset brain function. Zuranolone targets brain networks responsible for functions such as mood, arousal, behavior, and cognition.Priority Review is granted by the FDA to applications for medicines that, if approved, would provide significant improvements in the effectiveness or safety of the treatment, diagnosis, or prevention of serious conditions.About Major Depressive Disorder (MDD)Major depressive disorder (MDD) is a common but serious mood disorder in which people experience depressive symptoms that impair their social, occupational, educational, or other important functioning, such as a depressed mood or loss of interest or pleasure in daily activities, consistently for at least a two-week period. It is estimated that in 2020, more than 21 million adults in the U.S. experienced at least one major depressive episode with nearly 14 million people diagnosed with major depressive disorder.2 There were approximately 190 million cases of MDD worldwide in 2020.5About Postpartum Depression (PPD)Postpartum depression (PPD) is one of the most common medical complications during and after pregnancy.6 PPD can have a serious negative impact on a woman, including significant functional impairment, depressed mood and/or loss of interest in her newborn, and associated symptoms of depression such as loss of appetite, difficulty sleeping, motor challenges, lack of concentration, loss of energy and poor self-esteem. PPD is estimated to affect approximately one in eight women who have given birth in the U.S. or approximately 500,000 women annually.3About ZURANOLONEZuranolone (SAGE-217/BIIB125) is a once-daily, 14-day, investigational drug in development for the treatment of major depressive disorder (MDD) and postpartum depression (PPD). Zuranolone is an oral neuroactive steroid (NAS) GABA-A receptor positive allosteric modulator (PAM). The GABA system is the major inhibitory signaling pathway of the brain and central nervous system and contributes to regulating brain function.Zuranolone is being evaluated in the LANDSCAPE and NEST clinical development programs. The two development programs include multiple studies examining use of zuranolone in several thousand people with a variety of dosing, clinical endpoints, and treatment paradigms. The LANDSCAPE program includes five studies of zuranolone in people with MDD (MDD-201B, MOUNTAIN, SHORELINE, WATERFALL, and CORAL). The NEST program includes two placebo-controlled studies of zuranolone in women with PPD (ROBIN and SKYLARK). Additionally, Shionogi completed a Phase 2 study of zuranolone in Japan in people with MDD.About BiogenAs pioneers in neuroscience, Biogen discovers, develops, and delivers worldwide innovative therapies for people living with serious neurological diseases as well as related therapeutic adjacencies. One of the world’s first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Sir Kenneth Murray, and Nobel Prize winners Walter Gilbert and Phillip Sharp. Today, Biogen has a leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, and developed the first approved treatment to address a defining pathology of Alzheimer’s disease. Biogen is also commercializing biosimilars and focusing on advancing one of the industry’s most diversified pipelines in neuroscience that will transform the standard of care for patients in several areas of high unmet need.We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media - Twitter, LinkedIn, Facebook, YouTube.About Sage Therapeutics Sage Therapeutics is a biopharmaceutical company fearlessly leading the way to create a world with better brain health. Our mission is to pioneer solutions to deliver life-changing brain health medicines, so every person can thrive. For more information, please visit www.sagerx.com.Biogen Safe Harbor This news release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, relating to the potential, benefits, safety and efficacy of zuranolone; the potential clinical effects of zuranolone; the clinical development program for zuranolone; clinical development programs, clinical trials and data readouts and presentations for zuranolone; the potential treatment of MDD and PPD; the potential of Biogen’s commercial business and pipeline programs, including zuranolone; the anticipated benefits and potential of Biogen’s collaboration arrangement with Sage; and risks and uncertainties associated with drug development and commercialization. These forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “possible,” “will,” “would” and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements, or the scientific data presented.These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including without limitation, uncertainty of success in the development and potential commercialization of zuranolone; unexpected concerns may arise from additional data, analysis or results of clinical studies of zuranolone; regulatory authorities may require additional information or further studies, or may fail or refuse to approve or may delay approval of Biogen’s drug candidates, including zuranolone; the occurrence of adverse safety events; the risks of other unexpected hurdles, costs or delays; failure to protect and enforce data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; product liability claims; third party collaboration risks; and the direct and indirect impacts of the ongoing COVID-19 pandemic on our business, results of operations and financial condition. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Biogen’s expectations in any forward-looking statement. Investors should consider this cautionary statement as well as the risk factors identified in Biogen’s most recent annual or quarterly report and in other reports Biogen has filed with the U.S. Securities and Exchange Commission. These statements are based on Biogen’s current beliefs and expectations and speak only as of the date of this news release. Biogen does not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.Sage Therapeutics Safe Harbor Various statements in this release concern Sage's future expectations, plans and prospects, including without limitation our statements regarding: the potential profile and benefit of zuranolone in the treatment of MDD and PPD; our belief that the data from our clinical programs support the potential for approval of zuranolone in the treatment of MDD and PPD and the potential benefit of zuranolone, if approved, as a new treatment option in the treatment of MDD and PPD; our expectations regarding the PDUFA date for our NDA; our estimates as to the number of people with MDD and PPD and the need for new treatment options; and other statements as to our mission, goals and plans. These statements constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are neither promises nor guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements, including the risks that: the FDA may find that the data included in our NDA for zuranolone are not sufficient for approval and may not approve the NDA or may grant a more narrow or limited approval than we are seeking; the FDA may decide that the design, conduct or results of our completed and ongoing clinical trials for zuranolone, even if positive, are not sufficient for approval in MDD or PPD and may require additional trials or data which may significantly delay and put at risk our efforts to obtain approval and may not be successful; the FDA may not meet expected review timelines for our NDA or there may be other delays in such timelines; an Advisory Committee of the FDA, if convened, may not recommend approval of our NDA or may recommend a more narrow approval than we are seeking; other decisions or actions of the FDA may affect our efforts with respect to zuranolone and our plans, progress or results; results of ongoing or future studies may impact our ability to obtain approval of zuranolone or impair the potential profile of zuranolone; unexpected concerns may arise from additional data, analysis or results from any of our completed studies; we may encounter adverse events at any stage of development or use that negatively impact further development or that require additional nonclinical and clinical work which may not yield positive results; the number of patients with MDD and PPD, the unmet need for additional treatment options and the potential profile and market for zuranolone in the treatment of MDD and PPD, if approved, may be significantly smaller than we expect; and we may encounter technical and other unexpected hurdles which may delay our timing or change our plans, increase our costs or otherwise negatively impact our efforts to gain approval of zuranolone and to make it available as a treatment option for MDD and PPD or to accomplish other aspects of our mission and goals; as well as those risks more fully discussed in the section entitled "Risk Factors" in our most recent quarterly report with the Securities and Exchange Commission (SEC), as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the SEC. In addition, any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We explicitly disclaim any obligation to update any forward-looking statements.References: 2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/BIIB/2023.02.08/Bayer's new CEO: long-time Roche, Genentech executive, Bill Anderson.txt b/news/BIIB/2023.02.08/Bayer's new CEO: long-time Roche, Genentech executive, Bill Anderson.txt new file mode 100644 index 0000000000000000000000000000000000000000..eb35c102b7e0a5de0a4bb7a025b225faabd1ae34 --- /dev/null +++ b/news/BIIB/2023.02.08/Bayer's new CEO: long-time Roche, Genentech executive, Bill Anderson.txt @@ -0,0 +1,16 @@ +LONDON, Feb 8 (Reuters) - Bayer bowed to +investor pressure on Wednesday and named Bill Anderson, most +recently head of Roche's pharmaceuticals business, to +take over from Werner Baumann as its CEO in June.Here are some key facts about the career about the +56-year-old American who will run the nearly 160-year-old German +drugmaker:He is a chemical engineer by education and has worked for +Genentech and its parent Roche since 2006CAREER:1989: started his career at Ethyl Corp, a U.S.-based fuel +additives company, with postings in Belgium and the Netherlands1995: joined Raychem Corp., a U.S. technology and +electronics firm1997-2006: worked at Biogen in the United States, +UK and Ireland; roles included running its neurology unit, its +largest business2006: joined Genentech as senior vice president, immunology +and ophthalmology2010: became svp BioOncology2013: left Genentech to become global product strategy +head/chief marketing officer at Genentech's parent company, +Roche2016: returned to Genentech as head of North American +operations2017: appointed chief executive officer at Genentech2019-2023: CEO of Roche PharmaceuticalSources: Roche and Bayer +(Compiled by Josephine Mason. Editing by Jane Merriman) \ No newline at end of file diff --git a/news/BIIB/2023.02.15/Biogen : Q4 and Full Year 2022 Biogen Earnings Presentation.txt b/news/BIIB/2023.02.15/Biogen : Q4 and Full Year 2022 Biogen Earnings Presentation.txt new file mode 100644 index 0000000000000000000000000000000000000000..97bee2b1bbb90345f59d980e1b7637959cccb24b --- /dev/null +++ b/news/BIIB/2023.02.15/Biogen : Q4 and Full Year 2022 Biogen Earnings Presentation.txt @@ -0,0 +1,171 @@ + + + + Q4 and Full Year 2022 + + + Financial Results and Business Update + + + February 15, 2023 + + + + + + Non-GAAP financial information + + + This presentation and the discussions during this conference call include certain financial measures that were not prepared in accordance with accounting principles generally accepted in the U.S. (GAAP), including adjusted net income, adjusted diluted earnings per share, revenue growth at constant currency, which excludes the impact of changes in foreign exchange rates and hedging gains or losses, and free cash flow, which is defined as net cash flow from operations less capital expenditures. Additional information regarding the GAAP and Non-GAAP financial measures and a reconciliation of the GAAP to Non-GAAP financial measures can be found on slides 50-54 of this presentation and in the Q4 2022 earnings release and related financial tables posted on the Investors section of Biogen.com. We believe that these and other Non-GAAP financial measures provide additional insight into the ongoing economics of our business and reflect how we manage our business internally, set operational goals, and form the basis of our management incentive programs. Non- GAAP financial measures are in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. + + + We do not provide guidance for GAAP reported financial measures (other than revenue) or a reconciliation of forward-lookingNon-GAAP financial measures to the most directly comparable GAAP reported financial measures because we are unable to predict with reasonable certainty the financial impact of items such as the transaction, integration, and other costs related to acquisitions or business development transactions; unusual gains and losses; potential future asset impairments; gains and losses from our equity security investments; and the ultimate outcome of litigation. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, we are unable to address the significance of the unavailable information, which could be material to future results. + + + Note regarding trademarks: ADUHELM®, AVONEX®, PLEGRIDY®, RITUXAN®, RITUXAN HYCELA®, SPINRAZA®, TECFIDERA®, TYSABRI® and VUMERITY® are registered trademarks of Biogen. BENEPALI™, BYOOVIZ™, FLIXABI™, FUMADERM™, IMRALDI™ are trademarks of Biogen. The following are trademarks of the respective companies listed: LEQEMBI™ - Eisai Co., Ltd.; GAZYVA® and OCREVUS® - Genentech, Inc. Other trademarks referenced in this presentation are the property of their respective owners. + + + + + 2 + + + + + + + Forward-looking statements + + + This presentation and the discussions during this conference call contain forward-looking statements, relating to: our strategy and plans; potential of, and expectations for, our commercial business and pipeline programs; capital allocation and investment strategy; clinical development programs, clinical trials, and data readouts and presentations; + + + regulatory discussions, submissions, filings, and approvals; the potential benefits, safety, and efficacy of our and our collaboration partners' products and investigational therapies; the anticipated benefits and potential of investments, optimization of the cost structure, actions to improve risk profile and productivity of R&D pipeline, collaborations, and business development activities; our future financial and operating results; 2023 financial guidance. These forward-looking statements may be accompanied by such words as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "plan," "potential," "possible," "prospect," "will," "would," and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a + + + product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements. + + + These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including: our dependence on sales from our products; uncertainty of long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; failure to compete effectively due to significant product competition in the markets for our products; failure to successfully execute or realize the anticipated benefits of our strategic and growth initiatives; difficulties in obtaining and maintaining adequate coverage, pricing, and reimbursement for our products; our dependence on collaborators, joint venture partners, and other third parties for the development, regulatory approval, and commercialization of products and other aspects of our business, which are outside of our full control; the potential impact of the conflict in Ukraine; risks associated with current and potential future healthcare reforms; risks related to commercialization of biosimilars; failure to obtain, protect, and enforce our data, intellectual property, and other proprietary rights and the risks and uncertainties relating to intellectual property claims and challenges; the risk that positive results in a clinical trial may not be replicated in subsequent or confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical trials or trials in other potential indications; risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates; the occurrence of adverse safety events, restrictions on use with our products, or product liability claims; risks relating to technology failures or breaches; problems with our manufacturing processes; risks relating to management and personnel changes, including attracting and retaining personnel; failure to comply with legal and regulatory requirements; the risks of doing business internationally, including currency exchange rate fluctuations; risks relating to investment in our manufacturing capacity; the direct and indirect impacts of the ongoing COVID-19 pandemic on our business; risks relating to the distribution and sale by third parties of counterfeit or unfit versions of our products; risks relating to the use of social media for our business; results of operations, and financial condition; fluctuations in our operating results; risks related to investment in properties; the market, interest, and credit risks associated with our investment portfolio; risks relating to share repurchase programs; risks relating to access to capital and credit markets; risks related to indebtedness; change in control provisions in certain of our collaboration agreements; fluctuations in our effective tax rate; environmental risks; and any other risks and uncertainties that are described in other reports we have filed with the U.S. Securities and Exchange Commission. + + + These statements speak only as of the date of this presentation. We do not undertake any obligation to publicly update any forward-looking statements. + + + + + 3 + + + + + + + Q4 and full year 2022 earnings call agenda + + + + + + Introduction + + + Opening + + + Financial Results + + + Business Priorities + + + R&D Update + + + 2023 Guidance + + + + + Michael Hencke + + + Head of Investor Relations + + + Christopher A. Viehbacher + + + President and Chief Executive Officer + + + Michael McDonnell + + + Chief Financial Officer + + + Christopher A. Viehbacher + + + President and Chief Executive Officer + + + Priya Singhal, M.D., M.P.H. + + + Head of Development + + + Interim Head of Research & Global Safety and Regulatory Sciences + + + Michael McDonnell + + + Chief Financial Officer + + + + + + 4 + + + + + + + Opening + + + Christopher A. Viehbacher + + + President and Chief Executive Officer + + + + + 5 + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Biogen Inc. published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 12:06:02 UTC. + + diff --git a/news/BIIB/2023.02.15/Biogen : Reports Fourth Quarter and Full Year 2022 Results.txt b/news/BIIB/2023.02.15/Biogen : Reports Fourth Quarter and Full Year 2022 Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..4d2a9d8d6b32d2d4bdfe21840e8e7cb8169e3be6 --- /dev/null +++ b/news/BIIB/2023.02.15/Biogen : Reports Fourth Quarter and Full Year 2022 Results.txt @@ -0,0 +1,1815 @@ + + + + Press Release + + + Cambridge, Mass. - Feb. 15, 2023 + + + Biogen advances significant potential growth drivers; Company reports full year 2022 results and + + + provides full year 2023 guidance + + + Full year 2022 revenue and Non-GAAP EPS exceed guidance + + + +Fourth quarter revenue $2,544 million; GAAP diluted EPS $3.79; Non-GAAP diluted EPS $4.05 + + +Full year revenue $10,173 million; GAAP diluted EPS $20.87; Non-GAAP diluted EPS $17.67 + + + + Positioned to lead in Alzheimer's Disease with LEQEMBI accelerated approval, pipeline advancements + + + +LEQEMBI (lecanemab-irmb) FDA Accelerated Approval; submitted for traditional approval in U.S. + + +Regulatory filing for traditional approval accepted in E.U.; granted Priority Review in Japan; initiated submission of data for biologics license application (BLA) in China + + +Together with Eisai, advancing clinical studies to enhance patient experience and potential outcomes; investigating pre-symptomatic patients, maintenance dosing, subcutaneous formulation + + +Phase 2 initiated for Biogen's potential first-in-class therapy targeting tau + + + + Advancing launch plans with Sage Therapeutics for zuranolone, a new mechanism of action for potential treatment of depression + + + +Zuranolone New Drug Application for major depressive disorder (MDD) and postpartum depression (PPD) accepted in the U.S. and granted Priority Review; PDUFA August 5, 2023 + + +Filing supported by data demonstrating rapid onset of action with a consistent safety and tolerability profile from 14-day,once-daily treatment with the potential to offer an important new treatment option for patients suffering from MDD and PPD + + + + Working to improve risk profile and productivity of R&D pipeline + + + +Appointed Head of Development; Recruiting Head of Research + + +Prioritizing programs believed to have the most attractive risk-reward profile + + +Potential to further diversify in specialized immunology, neuropsychiatry, and rare disease + + + + Capitalizing on opportunities in existing product portfolio + + + +Driving potential revenue growth for SPINRAZA + + +Working to improve profitability of multiple sclerosis (MS) business + + +Considering strategic options for biosimilars business + + + + Aligning Biogen's cost base with revenue + + + +Prioritizing near-term potential launches while optimizing cost structure + + +On track to achieve previously announced cost savings + + + + Full Year 2023 Financial Guidance + + + +Expect mid-single digit revenue decline versus 2022 and Non-GAAPEPS of $15.00 to $16.00 + + + + Commenting on Biogen Inc.(Nasdaq: BIIB) results, President and Chief Executive Officer Christopher A. Viehbacher said: + + + "Strategically, we are working to put Biogen on a sustainable growth trajectory as we execute on two important near-term opportunities with LEQEMBI in Alzheimer's disease and zuranolone in depression, further diversify our product portfolio, and seek expansion through organic and external opportunities, including new partnerships. I believe we have a solid foundation on which to build Biogen's future, including strong internal talent with a passion for making a difference for patients." + + + + + + Financial Highlights + + + + + + + + + + Q4 '22 + + + + + + + Q4 '21 + + + + + + + Δ + + + + + + +Δ (CC#) + + + + + + + FY '22 + + + + + + + FY '21 + + + + + + + Δ + + + + + + +Δ (CC#) + + + + + + + Total Revenue (in millions) + + + + + $ + + + + + 2,544 + + + + + + + $ + + + + + 2,734 + + + + + + + (7%) + + + + + + + (4%) + + + + + + + $ + + + + + 10,173 + + + + + + + $ + + + + + 10,982 + + + + + + + (7%) + + + + + + + (5%) + + + + + + + GAAP diluted EPS + + + + + $ + + + + + 3.79 + + + + + $ + + + + + 2.50 + + + + + 52% + + + + + - + + + + + + + $ + + + + + 20.87 + + + + + $ + + + + + 10.40 + + + + + 101% + + + + + - + + + + + + + Non-GAAP diluted EPS + + + + + $ + + + + + 4.05 + + + + + $ + + + + + 3.39 + + + + + 19% + + + + + - + + + + + + + $ + + + + + 17.67 + + + + + $ + + + + + 19.13 + + + + + (8%) + + + + + - + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Note: Percent changes represented as favorable/(unfavorable) versus the prior year period + + + +Percentage changes in revenue growth at constant currency (CC) are presented excluding the impact of changes in foreign currency exchange + + + + rates and hedging gains or losses. The current period's foreign currency revenue values are converted into U.S. dollars using the average exchange rates from the prior period. + + + A reconciliation of GAAP to Non-GAAP financial measures can be found in Table 4 at the end of this news release. + + + Revenue Summary + + + + + + + + + (in millions) + + + + + Q4 '22 + + + + + + + Q4 '21 + + + + + + + Δ + + + + + + + + + + + + + + + + + + + + + + + + + + + MS product revenue+ + + + + + $ + + + + + 1,269 + + + + + + + $ + + + + + 1,528 (17%) + + + + + + + Spinal muscular atrophy + + + + + + + + + + + + + + + + + + + + + + + (SMA) product revenue + + + + + $ + + + + + 459 + + + + + $ + + + + + 441 + + + + + 4% + + + + + + + + + Biosimilars product revenue + + + + + $ + + + + + 175 + + + + + $ + + + + + 221 + + + + + (21%) + + + + + + + Other product revenue^ + + + + + $ + + + + + 2 + + + + + $ + + + + + 4 + + + + + (42%) + + + + + + + Total product revenue* + + + + + $ + + + + + 1,905 + + + + + $ + + + + + 2,194 (13%) + + + + + + + Revenue from anti-CD20 + + + + + + + + + + + + + + + + + + + + + + + therapeutic programs + + + + + $ + + + + + 448 + + + + + $ + + + + + 414 + + + + + 8% + + + + + + + + + Contract manufacturing and + + + + + + + + + + + + + + + + + + + + + + + royalty revenue + + + + + $ + + + + + 192 + + + + + $ + + + + + 126 + + + + + 52% + + + + + + + + + + + + +Δ (CC#) + + + + + + + FY '22 + + + + + + + FY '21 + + + + + Δ + + + + +Δ (CC#) + + + + + + + (14%) + + + + + $ + + + + + 5,430 + + + + + $ + + + + + 6,097 + + + + + (11%) + + + + + (9%) + + + + + + + + + 10% + + + + + $ + + + + + 1,794 + + + + + $ + + + + + 1,905 + + + + + (6%) + + + + + (2%) + + + + + + + + + + + + + + + + + + + + + + + (15%) + + + + + $ + + + + + 751 + + + + + $ + + + + + 831 + + + + + (10%) + + + + + (4%) + + + + + + + + + + + + + + + + + + + + + + + (36%) + + + + + $ + + + + + 13 + + + + + $ + + + + + 14 + + + + + (7%) + + + + + (0%) + + + + + + + + + + + + + + + + + + + + + + + (10%) + + + + + $ + + + + + 7,988 + + + + + $ + + + + + 8,847 + + + + + (10%) + + + + + (7%) + + + + + + + + + + + + + + + + + + + + + + + 8% + + + + + $ + + + + + 1,701 + + + + + $ + + + + + 1,659 + + + + + 3% + + + + + 3% + + + + + + + + + + + + + + + + + + + + + + + 52% + + + + + $ + + + + + 485 + + + + + $ + + + + + 476 + + + + + 2% + + + + + 2% + + + + + + + + + + + + + + + + + + + + + + + + + + + + Total Revenue* + + + + + $ 2,544 + + + + + $ 2,734 (7%) (4%) + + + + + $ 10,173 + + + + + $ 10,982 (7%) (5%) + + + + + + + + + + + + + + + + + + Note: Percent changes represented as favorable/(unfavorable) versus the prior year period + + + Numbers may not foot or recalculate due to rounding + + + + Multiple sclerosis includes TECFIDERA®, VUMERITY®, AVONEX®, PLEGRIDY®, TYSABRI®, and FAMPYRATM ^ includes ADUHELM® and FUMADERMTM + + + * Net of hedge + + + Expense Summary + + + + + + (in millions) + + + + + Q4 '22 + + + + + + + + + Q4 '21 + + + + + + + Δ + + + + + + + FY '22 + + + + + + + FY '21 + + + + + + + Δ + + + + + + + GAAP and Non-GAAP cost of sales* + + + + + $ + + + + + 571 + + + + + + + + + $ + + + + + 660 + + + + + + + 14% + + + + + + + $ + + + + + 2,278 + + + + + + + $ 2,110 + + + + + + + (8%) + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + % of Total Revenue + + + + + + + 22% + + + + + + + + + + + 24% + + + + + - + + + + + + + + + 22% + + + + + 19% + + + + + - + + + + + + + GAAP and Non-GAAP R&D + + + + + $ + + + + + 602 + + + + + $ + + + + + 700 + + + + + 14% + + + + + + + $ + + + + + 2,231 + + + + + $ 2,501 + + + + + 11% + + + + + + + GAAP SG&A + + + + + $ + + + + + 633 + + + + + $ + + + + + 788 + + + + + 20% + + + + + + + $ + + + + + 2,404 + + + + + $ 2,674 + + + + + 10% + + + + + + + Non-GAAP SG&A + + + + + $ + + + + + 632 + + + + + $ + + + + + 785 + + + + + 19% + + + + + + + $ + + + + + 2,399 + + + + + $ 2,666 + + + + + 10% + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Note: Percent changes represented as favorable/(unfavorable) versus the prior year period *Excluding amortization and impairment of acquired intangible assets + + + | 2 | + + + + + + +Fourth quarter 2022 GAAP and Non-GAAP cost of sales includes approximately $36 million of idle capacity charges. Eisai Co., Ltd.'s (Eisai) share of these charges (approximately $18 million) is reflected in collaboration profit sharing. Full year 2022 GAAP and Non-GAAP cost of sales includes approximately $119 million of idle capacity charges. Eisai's share of these charges (approximately $55 million) is reflected in collaboration profit sharing. + + +Full year 2022 GAAP and Non-GAAP cost of sales includes approximately $286 million in charges associated with the write-off of inventory and purchase commitments in excess of forecasted demand related to ADUHELM. Eisai's share of these charges (approximately $142 million) is reflected in collaboration profit sharing. Fourth quarter and full year 2021 GAAP and Non-GAAP cost of sales includes approximately $165 million and $170 million, respectively, in charges associated with the write-off of inventory and purchase commitments in excess of forecasted demand related to + ADUHELM. Eisai's share of these charges (approximately $82 million and $84 million, respectively) is reflected in collaboration profit sharing. + + +Fourth quarter 2021 GAAP and Non-GAAP R&D expense includes a $60 million opt-in payment to Ionis Pharmaceuticals, Inc. to obtain exclusive rights to develop and commercialize BIIB115, a preclinical investigational antisense oligonucleotide (ASO) for the treatment of spinal muscular atrophy (SMA), and approximately $50 million related to the exercise of our option to participate in a profit-sharing arrangement with Genentech, Inc. for the development and commercialization of mosunetuzumab (now approved in the U.S. as LUNSUMIOTM), a late-stage bispecific antibody in development for B-cellnon-Hodgkin's lymphoma and other therapeutic areas. + + +Full year 2021 GAAP and Non-GAAP R&D expense includes a total of $285 million in payments related to our collaborations with InnoCare Pharma Limited, Ionis, Bio-Thera Solutions, Ltd., Genentech, Capsigen Inc., and Ginkgo Bioworks, as well as $39 million of estimated clinical trial close-out costs and manufacturing commitments due to suspended development of BIIB111 in choroideremia and BIIB112 in X-linked retinitis pigmentosa. + + +The decrease in fourth quarter and full year 2022 GAAP and Non-GAAP SG&A expense was driven primarily by cost savings initiatives. + + + + Other Financial Highlights + + + +In the fourth quarter of 2022, Biogen discontinued further development of vixotrigine (BIIB074) for the treatment of neuropathic pain, resulting in a GAAP impairment charge of approximately $120 million. In addition, this decision resulted in a GAAP pre-tax gain of approximately $195 million due to an adjustment to the value of contingent consideration obligations related to vixotrigine. + + +Fourth quarter 2022 GAAP and Non-GAAP collaboration profit sharing was a net expense of $35 million, which includes $46 million of net profit sharing expense related to Biogen's collaboration with + Samsung Bioepis, partially offset by reimbursement of $11 million from Eisai related to ADUHELM in the U.S. Full year 2022 GAAP and Non-GAAP collaboration profit sharing reduced our net operating expense by $7 million, which includes reimbursement of $225 million from Eisai related to ADUHELM in the U.S., partially offset by $217 million of net profit sharing expense related to Biogen's collaboration with Samsung Bioepis. + + + + | 3 | + + + + + +Fourth quarter 2022 GAAP other expense was $113 million, primarily driven by net unrealized losses on strategic equity investments of $107 million. Fourth quarter 2022 Non-GAAP other expense was $7 million, primarily driven by net interest expense. Full year 2022 GAAP other income was $108 million, driven by a realized gain of $1,505 million related to the sale of equity interest in Samsung Bioepis, partially offset by net unrealized losses on strategic equity investments of $265 million, net interest expense of $157 million, and an expense of $917 million related to the previously disclosed litigation settlement. Full year 2022 Non-GAAP other expense was $213 million, primarily driven by net interest expense. + + +Fourth quarter 2022 GAAP and Non-GAAP effective tax rates were 9% and 15%, respectively. The fourth quarter 2022 effective GAAP tax rate benefited from the decision to discontinue development of vixotrigine and the resulting impairment and adjustment to contingent consideration as well as mark-to-market losses on our marketable equity securities portfolio. Full year 2022 GAAP and Non- GAAP effective tax rates were 18% and 15%, respectively. The full year 2022 GAAP effective tax rate was unfavorably impacted by a valuation allowance recorded on Neurimmune's tax basis in ADUHELM as well as the non-deductible portion of the previously disclosed litigation settlement, partially offset by the deferred tax benefits of an international restructuring. + + + + Financial Position + + + +Fourth quarter 2022 net cash outflow from operations was $175 million, which includes a payment of approximately $917 million related to the previously disclosed litigation settlement. Capital expenditures were $86 million, and free cash flow, defined as cash flow from operations less capital expenditures, was a net cash outflow of $261 million. + + +Full year 2022 cash flow from operations was $1,384 million, which also includes the payment of approximately $917 million related to the previously disclosed litigation settlement. Capital expenditures were $240 million, and free cash flow, defined as cash flow from operations less capital expenditures, was $1,144 million. + + +As of December 31, 2022, Biogen had cash, cash equivalents, and marketable securities totaling $5,598 million and $6,281 million in total debt, resulting in net debt of $683 million. + + +Throughout 2022 Biogen repurchased approximately 3.6 million shares of the Company's common stock for a total value of $750 million. No shares were repurchased in the fourth quarter of 2022. As of December 31, 2022, there was $2,050 million remaining under the share repurchase program authorized in October 2020. + + +For the fourth quarter of 2022 the Company's weighted average diluted shares were 145 million. For 2022 the Company's full year weighted average diluted shares were 146 million. + + + + | 4 | + + + + + Full Year 2023 Financial Guidance + + + For the full year 2023, Biogen expects revenue and Non-GAAP diluted EPS guidance ranges as follows: + + + + + + + + Full Year 2023 + + + + + + + Total revenue + + + + + Mid-single digit percentage decline versus + + + + + + + + + reported full year 2022 + + + + + + + Non-GAAP diluted EPS + + + + + $15.00 to $16.00 + + + + + + This guidance assumes a favorable decision by the Court of Justice of the European Union relating to regulatory data protection for TECFIDERA, which is currently expected on March 16, 2023, although Biogen cannot predict the outcome. + + + Biogen expects modest in-market revenue for LEQEMBITM in 2023 with commercialization expenses exceeding revenue. Biogen will record its share of net commercial profits and losses for LEQEMBI in the U.S. as a component of total revenue, which is expected to be a headwind to revenue in 2023. + + + This guidance assumes that foreign exchange rates as of December 31, 2022, will remain in effect for the remainder of the year, net of hedging activities. + + + This financial guidance does not include any impact from potential acquisitions or large business development transactions or pending and future litigation, as all are hard to predict, or any impact of potential tax or healthcare reform. Biogen may incur charges, realize gains or losses, or experience other events or circumstances in 2023 that could cause any of these assumptions to change and/or actual results to vary from this financial guidance. + + + Biogen does not provide guidance for GAAP reported financial measures (other than revenue) or a reconciliation of forward-lookingNon-GAAP financial measures to the most directly comparable GAAP reported financial measures because the Company is unable to predict with reasonable certainty the financial impact of items such as the transaction, integration, and certain other costs related to acquisitions or large business development transactions; unusual gains and losses; potential future asset impairments; gains and losses from our equity security investments; and the ultimate outcome of pending significant litigation without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, the Company is unable to address the significance of the unavailable information, which could be material to future results. + + + Recent Developments + + + +In the fourth quarter of 2022 Biogen initiated a Phase 2 Study of BIIB080 (anti-tau ASO) in early + Alzheimer's disease. + + +In the fourth quarter of 2022 Biogen initiated the Phase 1 Study of BIIB115, an ASO in development for SMA that may have the potential to help address additional unmet needs of patients as well as to be administered at extended dosing intervals. + + + + | 5 | + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Biogen Inc. published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 12:06:02 UTC. + + diff --git a/news/BIIB/2023.02.15/Biogen : Reports Q4 2022 Earnings.txt b/news/BIIB/2023.02.15/Biogen : Reports Q4 2022 Earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..02721a6552238516f1083b168b04259fe4a5e8d4 --- /dev/null +++ b/news/BIIB/2023.02.15/Biogen : Reports Q4 2022 Earnings.txt @@ -0,0 +1,1815 @@ + + + + Press Release + + + Cambridge, Mass. - Feb. 15, 2023 + + + Biogen advances significant potential growth drivers; Company reports full year 2022 results and + + + provides full year 2023 guidance + + + Full year 2022 revenue and Non-GAAP EPS exceed guidance + + + +Fourth quarter revenue $2,544 million; GAAP diluted EPS $3.79; Non-GAAP diluted EPS $4.05 + + +Full year revenue $10,173 million; GAAP diluted EPS $20.87; Non-GAAP diluted EPS $17.67 + + + + Positioned to lead in Alzheimer's Disease with LEQEMBI accelerated approval, pipeline advancements + + + +LEQEMBI (lecanemab-irmb) FDA Accelerated Approval; submitted for traditional approval in U.S. + + +Regulatory filing for traditional approval accepted in E.U.; granted Priority Review in Japan; initiated submission of data for biologics license application (BLA) in China + + +Together with Eisai, advancing clinical studies to enhance patient experience and potential outcomes; investigating pre-symptomatic patients, maintenance dosing, subcutaneous formulation + + +Phase 2 initiated for Biogen's potential first-in-class therapy targeting tau + + + + Advancing launch plans with Sage Therapeutics for zuranolone, a new mechanism of action for potential treatment of depression + + + +Zuranolone New Drug Application for major depressive disorder (MDD) and postpartum depression (PPD) accepted in the U.S. and granted Priority Review; PDUFA August 5, 2023 + + +Filing supported by data demonstrating rapid onset of action with a consistent safety and tolerability profile from 14-day,once-daily treatment with the potential to offer an important new treatment option for patients suffering from MDD and PPD + + + + Working to improve risk profile and productivity of R&D pipeline + + + +Appointed Head of Development; Recruiting Head of Research + + +Prioritizing programs believed to have the most attractive risk-reward profile + + +Potential to further diversify in specialized immunology, neuropsychiatry, and rare disease + + + + Capitalizing on opportunities in existing product portfolio + + + +Driving potential revenue growth for SPINRAZA + + +Working to improve profitability of multiple sclerosis (MS) business + + +Considering strategic options for biosimilars business + + + + Aligning Biogen's cost base with revenue + + + +Prioritizing near-term potential launches while optimizing cost structure + + +On track to achieve previously announced cost savings + + + + Full Year 2023 Financial Guidance + + + +Expect mid-single digit revenue decline versus 2022 and Non-GAAPEPS of $15.00 to $16.00 + + + + Commenting on Biogen Inc.(Nasdaq: BIIB) results, President and Chief Executive Officer Christopher A. Viehbacher said: + + + "Strategically, we are working to put Biogen on a sustainable growth trajectory as we execute on two important near-term opportunities with LEQEMBI in Alzheimer's disease and zuranolone in depression, further diversify our product portfolio, and seek expansion through organic and external opportunities, including new partnerships. I believe we have a solid foundation on which to build Biogen's future, including strong internal talent with a passion for making a difference for patients." + + + + + + Financial Highlights + + + + + + + + + + Q4 '22 + + + + + + + Q4 '21 + + + + + + + Δ + + + + + + +Δ (CC#) + + + + + + + FY '22 + + + + + + + FY '21 + + + + + + + Δ + + + + + + +Δ (CC#) + + + + + + + Total Revenue (in millions) + + + + + $ + + + + + 2,544 + + + + + + + $ + + + + + 2,734 + + + + + + + (7%) + + + + + + + (4%) + + + + + + + $ + + + + + 10,173 + + + + + + + $ + + + + + 10,982 + + + + + + + (7%) + + + + + + + (5%) + + + + + + + GAAP diluted EPS + + + + + $ + + + + + 3.79 + + + + + $ + + + + + 2.50 + + + + + 52% + + + + + - + + + + + + + $ + + + + + 20.87 + + + + + $ + + + + + 10.40 + + + + + 101% + + + + + - + + + + + + + Non-GAAP diluted EPS + + + + + $ + + + + + 4.05 + + + + + $ + + + + + 3.39 + + + + + 19% + + + + + - + + + + + + + $ + + + + + 17.67 + + + + + $ + + + + + 19.13 + + + + + (8%) + + + + + - + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Note: Percent changes represented as favorable/(unfavorable) versus the prior year period + + + +Percentage changes in revenue growth at constant currency (CC) are presented excluding the impact of changes in foreign currency exchange + + + + rates and hedging gains or losses. The current period's foreign currency revenue values are converted into U.S. dollars using the average exchange rates from the prior period. + + + A reconciliation of GAAP to Non-GAAP financial measures can be found in Table 4 at the end of this news release. + + + Revenue Summary + + + + + + + + + (in millions) + + + + + Q4 '22 + + + + + + + Q4 '21 + + + + + + + Δ + + + + + + + + + + + + + + + + + + + + + + + + + + + MS product revenue+ + + + + + $ + + + + + 1,269 + + + + + + + $ + + + + + 1,528 (17%) + + + + + + + Spinal muscular atrophy + + + + + + + + + + + + + + + + + + + + + + + (SMA) product revenue + + + + + $ + + + + + 459 + + + + + $ + + + + + 441 + + + + + 4% + + + + + + + + + Biosimilars product revenue + + + + + $ + + + + + 175 + + + + + $ + + + + + 221 + + + + + (21%) + + + + + + + Other product revenue^ + + + + + $ + + + + + 2 + + + + + $ + + + + + 4 + + + + + (42%) + + + + + + + Total product revenue* + + + + + $ + + + + + 1,905 + + + + + $ + + + + + 2,194 (13%) + + + + + + + Revenue from anti-CD20 + + + + + + + + + + + + + + + + + + + + + + + therapeutic programs + + + + + $ + + + + + 448 + + + + + $ + + + + + 414 + + + + + 8% + + + + + + + + + Contract manufacturing and + + + + + + + + + + + + + + + + + + + + + + + royalty revenue + + + + + $ + + + + + 192 + + + + + $ + + + + + 126 + + + + + 52% + + + + + + + + + + + + +Δ (CC#) + + + + + + + FY '22 + + + + + + + FY '21 + + + + + Δ + + + + +Δ (CC#) + + + + + + + (14%) + + + + + $ + + + + + 5,430 + + + + + $ + + + + + 6,097 + + + + + (11%) + + + + + (9%) + + + + + + + + + 10% + + + + + $ + + + + + 1,794 + + + + + $ + + + + + 1,905 + + + + + (6%) + + + + + (2%) + + + + + + + + + + + + + + + + + + + + + + + (15%) + + + + + $ + + + + + 751 + + + + + $ + + + + + 831 + + + + + (10%) + + + + + (4%) + + + + + + + + + + + + + + + + + + + + + + + (36%) + + + + + $ + + + + + 13 + + + + + $ + + + + + 14 + + + + + (7%) + + + + + (0%) + + + + + + + + + + + + + + + + + + + + + + + (10%) + + + + + $ + + + + + 7,988 + + + + + $ + + + + + 8,847 + + + + + (10%) + + + + + (7%) + + + + + + + + + + + + + + + + + + + + + + + 8% + + + + + $ + + + + + 1,701 + + + + + $ + + + + + 1,659 + + + + + 3% + + + + + 3% + + + + + + + + + + + + + + + + + + + + + + + 52% + + + + + $ + + + + + 485 + + + + + $ + + + + + 476 + + + + + 2% + + + + + 2% + + + + + + + + + + + + + + + + + + + + + + + + + + + + Total Revenue* + + + + + $ 2,544 + + + + + $ 2,734 (7%) (4%) + + + + + $ 10,173 + + + + + $ 10,982 (7%) (5%) + + + + + + + + + + + + + + + + + + Note: Percent changes represented as favorable/(unfavorable) versus the prior year period + + + Numbers may not foot or recalculate due to rounding + + + + Multiple sclerosis includes TECFIDERA®, VUMERITY®, AVONEX®, PLEGRIDY®, TYSABRI®, and FAMPYRATM ^ includes ADUHELM® and FUMADERMTM + + + * Net of hedge + + + Expense Summary + + + + + + (in millions) + + + + + Q4 '22 + + + + + + + + + Q4 '21 + + + + + + + Δ + + + + + + + FY '22 + + + + + + + FY '21 + + + + + + + Δ + + + + + + + GAAP and Non-GAAP cost of sales* + + + + + $ + + + + + 571 + + + + + + + + + $ + + + + + 660 + + + + + + + 14% + + + + + + + $ + + + + + 2,278 + + + + + + + $ 2,110 + + + + + + + (8%) + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + % of Total Revenue + + + + + + + 22% + + + + + + + + + + + 24% + + + + + - + + + + + + + + + 22% + + + + + 19% + + + + + - + + + + + + + GAAP and Non-GAAP R&D + + + + + $ + + + + + 602 + + + + + $ + + + + + 700 + + + + + 14% + + + + + + + $ + + + + + 2,231 + + + + + $ 2,501 + + + + + 11% + + + + + + + GAAP SG&A + + + + + $ + + + + + 633 + + + + + $ + + + + + 788 + + + + + 20% + + + + + + + $ + + + + + 2,404 + + + + + $ 2,674 + + + + + 10% + + + + + + + Non-GAAP SG&A + + + + + $ + + + + + 632 + + + + + $ + + + + + 785 + + + + + 19% + + + + + + + $ + + + + + 2,399 + + + + + $ 2,666 + + + + + 10% + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Note: Percent changes represented as favorable/(unfavorable) versus the prior year period *Excluding amortization and impairment of acquired intangible assets + + + | 2 | + + + + + + +Fourth quarter 2022 GAAP and Non-GAAP cost of sales includes approximately $36 million of idle capacity charges. Eisai Co., Ltd.'s (Eisai) share of these charges (approximately $18 million) is reflected in collaboration profit sharing. Full year 2022 GAAP and Non-GAAP cost of sales includes approximately $119 million of idle capacity charges. Eisai's share of these charges (approximately $55 million) is reflected in collaboration profit sharing. + + +Full year 2022 GAAP and Non-GAAP cost of sales includes approximately $286 million in charges associated with the write-off of inventory and purchase commitments in excess of forecasted demand related to ADUHELM. Eisai's share of these charges (approximately $142 million) is reflected in collaboration profit sharing. Fourth quarter and full year 2021 GAAP and Non-GAAP cost of sales includes approximately $165 million and $170 million, respectively, in charges associated with the write-off of inventory and purchase commitments in excess of forecasted demand related to + ADUHELM. Eisai's share of these charges (approximately $82 million and $84 million, respectively) is reflected in collaboration profit sharing. + + +Fourth quarter 2021 GAAP and Non-GAAP R&D expense includes a $60 million opt-in payment to Ionis Pharmaceuticals, Inc. to obtain exclusive rights to develop and commercialize BIIB115, a preclinical investigational antisense oligonucleotide (ASO) for the treatment of spinal muscular atrophy (SMA), and approximately $50 million related to the exercise of our option to participate in a profit-sharing arrangement with Genentech, Inc. for the development and commercialization of mosunetuzumab (now approved in the U.S. as LUNSUMIOTM), a late-stage bispecific antibody in development for B-cellnon-Hodgkin's lymphoma and other therapeutic areas. + + +Full year 2021 GAAP and Non-GAAP R&D expense includes a total of $285 million in payments related to our collaborations with InnoCare Pharma Limited, Ionis, Bio-Thera Solutions, Ltd., Genentech, Capsigen Inc., and Ginkgo Bioworks, as well as $39 million of estimated clinical trial close-out costs and manufacturing commitments due to suspended development of BIIB111 in choroideremia and BIIB112 in X-linked retinitis pigmentosa. + + +The decrease in fourth quarter and full year 2022 GAAP and Non-GAAP SG&A expense was driven primarily by cost savings initiatives. + + + + Other Financial Highlights + + + +In the fourth quarter of 2022, Biogen discontinued further development of vixotrigine (BIIB074) for the treatment of neuropathic pain, resulting in a GAAP impairment charge of approximately $120 million. In addition, this decision resulted in a GAAP pre-tax gain of approximately $195 million due to an adjustment to the value of contingent consideration obligations related to vixotrigine. + + +Fourth quarter 2022 GAAP and Non-GAAP collaboration profit sharing was a net expense of $35 million, which includes $46 million of net profit sharing expense related to Biogen's collaboration with + Samsung Bioepis, partially offset by reimbursement of $11 million from Eisai related to ADUHELM in the U.S. Full year 2022 GAAP and Non-GAAP collaboration profit sharing reduced our net operating expense by $7 million, which includes reimbursement of $225 million from Eisai related to ADUHELM in the U.S., partially offset by $217 million of net profit sharing expense related to Biogen's collaboration with Samsung Bioepis. + + + + | 3 | + + + + + +Fourth quarter 2022 GAAP other expense was $113 million, primarily driven by net unrealized losses on strategic equity investments of $107 million. Fourth quarter 2022 Non-GAAP other expense was $7 million, primarily driven by net interest expense. Full year 2022 GAAP other income was $108 million, driven by a realized gain of $1,505 million related to the sale of equity interest in Samsung Bioepis, partially offset by net unrealized losses on strategic equity investments of $265 million, net interest expense of $157 million, and an expense of $917 million related to the previously disclosed litigation settlement. Full year 2022 Non-GAAP other expense was $213 million, primarily driven by net interest expense. + + +Fourth quarter 2022 GAAP and Non-GAAP effective tax rates were 9% and 15%, respectively. The fourth quarter 2022 effective GAAP tax rate benefited from the decision to discontinue development of vixotrigine and the resulting impairment and adjustment to contingent consideration as well as mark-to-market losses on our marketable equity securities portfolio. Full year 2022 GAAP and Non- GAAP effective tax rates were 18% and 15%, respectively. The full year 2022 GAAP effective tax rate was unfavorably impacted by a valuation allowance recorded on Neurimmune's tax basis in ADUHELM as well as the non-deductible portion of the previously disclosed litigation settlement, partially offset by the deferred tax benefits of an international restructuring. + + + + Financial Position + + + +Fourth quarter 2022 net cash outflow from operations was $175 million, which includes a payment of approximately $917 million related to the previously disclosed litigation settlement. Capital expenditures were $86 million, and free cash flow, defined as cash flow from operations less capital expenditures, was a net cash outflow of $261 million. + + +Full year 2022 cash flow from operations was $1,384 million, which also includes the payment of approximately $917 million related to the previously disclosed litigation settlement. Capital expenditures were $240 million, and free cash flow, defined as cash flow from operations less capital expenditures, was $1,144 million. + + +As of December 31, 2022, Biogen had cash, cash equivalents, and marketable securities totaling $5,598 million and $6,281 million in total debt, resulting in net debt of $683 million. + + +Throughout 2022 Biogen repurchased approximately 3.6 million shares of the Company's common stock for a total value of $750 million. No shares were repurchased in the fourth quarter of 2022. As of December 31, 2022, there was $2,050 million remaining under the share repurchase program authorized in October 2020. + + +For the fourth quarter of 2022 the Company's weighted average diluted shares were 145 million. For 2022 the Company's full year weighted average diluted shares were 146 million. + + + + | 4 | + + + + + Full Year 2023 Financial Guidance + + + For the full year 2023, Biogen expects revenue and Non-GAAP diluted EPS guidance ranges as follows: + + + + + + + + Full Year 2023 + + + + + + + Total revenue + + + + + Mid-single digit percentage decline versus + + + + + + + + + reported full year 2022 + + + + + + + Non-GAAP diluted EPS + + + + + $15.00 to $16.00 + + + + + + This guidance assumes a favorable decision by the Court of Justice of the European Union relating to regulatory data protection for TECFIDERA, which is currently expected on March 16, 2023, although Biogen cannot predict the outcome. + + + Biogen expects modest in-market revenue for LEQEMBITM in 2023 with commercialization expenses exceeding revenue. Biogen will record its share of net commercial profits and losses for LEQEMBI in the U.S. as a component of total revenue, which is expected to be a headwind to revenue in 2023. + + + This guidance assumes that foreign exchange rates as of December 31, 2022, will remain in effect for the remainder of the year, net of hedging activities. + + + This financial guidance does not include any impact from potential acquisitions or large business development transactions or pending and future litigation, as all are hard to predict, or any impact of potential tax or healthcare reform. Biogen may incur charges, realize gains or losses, or experience other events or circumstances in 2023 that could cause any of these assumptions to change and/or actual results to vary from this financial guidance. + + + Biogen does not provide guidance for GAAP reported financial measures (other than revenue) or a reconciliation of forward-lookingNon-GAAP financial measures to the most directly comparable GAAP reported financial measures because the Company is unable to predict with reasonable certainty the financial impact of items such as the transaction, integration, and certain other costs related to acquisitions or large business development transactions; unusual gains and losses; potential future asset impairments; gains and losses from our equity security investments; and the ultimate outcome of pending significant litigation without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, the Company is unable to address the significance of the unavailable information, which could be material to future results. + + + Recent Developments + + + +In the fourth quarter of 2022 Biogen initiated a Phase 2 Study of BIIB080 (anti-tau ASO) in early + Alzheimer's disease. + + +In the fourth quarter of 2022 Biogen initiated the Phase 1 Study of BIIB115, an ASO in development for SMA that may have the potential to help address additional unmet needs of patients as well as to be administered at extended dosing intervals. + + + + | 5 | + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Biogen Inc. published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 12:06:02 UTC. + + diff --git a/news/BIIB/2023.02.15/Biogen : advances significant potential growth drivers; Company reports full year 2022 res...txt b/news/BIIB/2023.02.15/Biogen : advances significant potential growth drivers; Company reports full year 2022 res...txt new file mode 100644 index 0000000000000000000000000000000000000000..49c309ce5a51cc8c78b8736f47a86e3f1b0ad37f --- /dev/null +++ b/news/BIIB/2023.02.15/Biogen : advances significant potential growth drivers; Company reports full year 2022 res...txt @@ -0,0 +1,5143 @@ + + + Biogen advances significant potential growth drivers; Company reports full year 2022 results and provides full year 2023 guidance + + + + + + Full year 2022 revenue and Non-GAAP EPS exceed guidance + + + •Fourth quarter revenue $2,544 million; GAAP diluted EPS $3.79; Non-GAAP diluted EPS $4.05 + + + •Full year revenue $10,173 million; GAAP diluted EPS $20.87; Non-GAAP diluted EPS $17.67 + + + Positioned to lead in Alzheimer's Disease with LEQEMBI accelerated approval, pipeline advancements + + + •LEQEMBI (lecanemab-irmb) FDA Accelerated Approval; submitted for traditional approval in U.S. + + + •Regulatory filing for traditional approval accepted in E.U.; granted Priority Review in Japan; initiated submission of data for biologics license application (BLA) in China + + + •Together with Eisai, advancing clinical studies to enhance patient experience and potential outcomes; investigating pre-symptomatic patients, maintenance dosing, subcutaneous formulation + + + •Phase 2 initiated for Biogen's potential first-in-class therapy targeting tau + + + Advancing launch plans with Sage Therapeutics for zuranolone, a new mechanism of action for potential treatment of depression + + + •Zuranolone New Drug Application for major depressive disorder (MDD) and postpartum depression (PPD) accepted in the U.S. and granted Priority Review; PDUFA August 5, 2023 + + + •Filing supported by data demonstrating rapid onset of action with a consistent safety and tolerability profile from 14-day, once-daily treatment with the potential to offer an important new treatment option for patients suffering from MDD and PPD + + + Working to improve risk profile and productivity of R&D pipeline + + + •Appointed Head of Development; Recruiting Head of Research + + + •Prioritizing programs believed to have the most attractive risk-reward profile + + + •Potential to further diversify in specialized immunology, neuropsychiatry, and rare disease + + + Capitalizing on opportunities in existing product portfolio + + + •Driving potential revenue growth for SPINRAZA + + + •Working to improve profitability of multiple sclerosis (MS) business + + + •Considering strategic options for biosimilars business + + + Aligning Biogen's cost base with revenue + + + •Prioritizing near-term potential launches while optimizing cost structure + + + •On track to achieve previously announced cost savings + + + Full Year 2023 Financial Guidance + + + •Expect mid-single digit revenue decline versus 2022 and Non-GAAP EPS of $15.00 to $16.00 + + + Commenting on Biogen Inc. (Nasdaq: BIIB) results, President and Chief Executive Officer Christopher A. Viehbacher said: + + + "Strategically, we are working to put Biogen on a sustainable growth trajectory as we execute on two important near-term opportunities with LEQEMBI in Alzheimer's disease and zuranolone in depression, further diversify our product portfolio, and seek expansion through organic and external opportunities, including new partnerships. I believe we have a solid foundation on which to build Biogen's future, including strong internal talent with a passion for making a difference for patients." + + + + + + 1 + + + + + + Financial Highlights + + + + + + + + + + Q4 '22 + + + Q4' 21 + + + r + + + + r (CC#) + + + + FY '22 + + + FY '21 + + + r + + + + r (CC#) + + + + + + Total Revenue (in millions) + + + $2,544 + + + $2,734 + + + (7)% + + + (4)% + + + $10,173 + + + $10,982 + + + (7)% + + + (5)% + + + + + GAAP diluted EPS + + + $3.79 + + + $2.50 + + + 52% + + + - + + + $20.87 + + + $10.40 + + + 101% + + + - + + + + + Non-GAAP diluted EPS + + + $4.05 + + + $3.39 + + + 19% + + + - + + + $17.67 + + + $19.13 + + + (8)% + + + - + + + + + + Note: Percent changes represented as favorable/(unfavorable) versus the prior year period + + + # Percentage changes in revenue growth at constant currency (CC) are presented excluding the impact of changes in foreign currency exchange rates and hedging gains or losses. The current period's foreign currency revenue values are converted into U.S. dollars using the average exchange rates from the prior period. + + + + + + A reconciliation of GAAP to Non-GAAP financial measures can be found in Table 4 at the end of this news release. + + + Revenue Summary + + + + + + + + + + (in millions) + + + Q4 '22 + + + Q4' 21 + + + r + + + + r (CC#) + + + + FY '22 + + + FY '21 + + + r + + + + r (CC#) + + + + + + + MS product revenue+ + + + + $1,269 + + + $1,528 + + + (17)% + + + (14)% + + + $5,430 + + + $6,097 + + + (11)% + + + (9)% + + + + + Spinal muscular atrophy (SMA) product revenue + + + $459 + + + $441 + + + 4% + + + 10% + + + $1,794 + + + $1,905 + + + (6)% + + + (2)% + + + + + Biosimilars product revenue + + + $175 + + + $221 + + + (21)% + + + (15)% + + + $751 + + + $831 + + + (10)% + + + (4)% + + + + + + Other product revenue^ + + + + $2 + + + $4 + + + (42)% + + + (36)% + + + $13 + + + $14 + + + (7)% + + + -% + + + + + + Total product revenue* + + + + $1,905 + + + $2,194 + + + (13)% + + + (10)% + + + $7,988 + + + $8,847 + + + (10)% + + + (7)% + + + + + Revenue from anti-CD20 therapeutic programs + + + $448 + + + $414 + + + 8% + + + 8% + + + $1,701 + + + $1,659 + + + 3% + + + 3% + + + + + Contract manufacturing and royalty revenue + + + $192 + + + $126 + + + 52% + + + 52% + + + $485 + + + $476 + + + 2% + + + 2% + + + + + Total Revenue* + + + $2,544 + + + $2,734 + + + (7)% + + + (4)% + + + $10,173 + + + $10,982 + + + (7)% + + + (5)% + + + + + + Note: Percent changes represented as favorable/(unfavorable) versus the prior year period + + + Numbers may not foot or recalculate due to rounding + + + + Multiple sclerosis includes TECFIDERA®, VUMERITY®, AVONEX®, PLEGRIDY®, TYSABRI®, and FAMPYRATM + + + ^ includes ADUHELM® and FUMADERMTM + + + * Net of hedge + + + Expense Summary + + + + + + + + + + (in millions) + + + Q4 '22 + + + Q4' 21 + + + r + + + FY '22 + + + FY '21 + + + + r + + + + + + + GAAP and Non-GAAP cost of sales* + + + + $571 + + + $660 + + + 14% + + + $2,278 + + + $2,110 + + + (8)% + + + + + % of Total Revenue + + + 22% + + + 24% + + + - + + + 22% + + + 19% + + + - + + + + + GAAP and Non-GAAP R&D + + + $602 + + + $700 + + + 14% + + + $2,231 + + + $2,501 + + + 11% + + + + + GAAP SG&A + + + $633 + + + $788 + + + 20% + + + $2,404 + + + $2,674 + + + 10% + + + + + Non-GAAP SG&A + + + $632 + + + $785 + + + 19% + + + $2,399 + + + $2,666 + + + 10% + + + + + + Note: Percent changes represented as favorable/(unfavorable) versus the prior year period + + + *Excluding amortization and impairment of acquired intangible assets + + + + + + •Fourth quarter 2022 GAAP and Non-GAAP cost of sales includes approximately $36 million of idle capacity charges. Eisai Co., Ltd.'s (Eisai) share of these charges (approximately $18 million) is reflected in collaboration profit sharing. Full year 2022 GAAP and Non-GAAP cost of sales includes approximately $119 million of idle capacity charges. Eisai's share of these charges (approximately $55 million) is reflected in collaboration profit sharing. + + + + + + •Full year 2022 GAAP and Non-GAAP cost of sales includes approximately $286 million in charges associated with the write-off of inventory and purchase commitments in excess of forecasted demand related to ADUHELM. Eisai's share of these charges (approximately $142 million) is reflected in collaboration profit sharing. Fourth quarter and full year 2021 GAAP and Non-GAAP cost of sales includes approximately $165 million and $170 million, respectively, in charges associated with the + + + 2 + + + + + + write-off of inventory and purchase commitments in excess of forecasted demand related to ADUHELM. Eisai's share of these charges (approximately $82 million and $84 million, respectively) is reflected in collaboration profit sharing. + + + + + + •Fourth quarter 2021 GAAP and Non-GAAP R&D expense includes a $60 million opt-in payment to Ionis Pharmaceuticals, Inc. to obtain exclusive rights to develop and commercialize BIIB115, a preclinical investigational antisense oligonucleotide (ASO) for the treatment of spinal muscular atrophy (SMA), and approximately $50 million related to the exercise of our option to participate in a profit-sharing arrangement with Genentech, Inc. for the development and commercialization of mosunetuzumab (now approved in the U.S. as LUNSUMIOTM), a late-stage bispecific antibody in development for B-cell non-Hodgkin's lymphoma and other therapeutic areas. + + + + + + •Full year 2021 GAAP and Non-GAAP R&D expense includes a total of $285 million in payments related to our collaborations with InnoCare Pharma Limited, Ionis, Bio-Thera Solutions, Ltd., Genentech, Capsigen Inc., and Ginkgo Bioworks, as well as $39 million of estimated clinical trial close-out costs and manufacturing commitments due to suspended development of BIIB111 in choroideremia and BIIB112 in X-linked retinitis pigmentosa. + + + + + + •The decrease in fourth quarter and full year 2022 GAAP and Non-GAAP SG&A expense was driven primarily by cost savings initiatives. + + + Other Financial Highlights + + + + + + •In the fourth quarter of 2022, Biogen discontinued further development of vixotrigine (BIIB074) for the treatment of neuropathic pain, resulting in a GAAP impairment charge of approximately $120 million. In addition, this decision resulted in a GAAP pre-tax gain of approximately $195 million due to an adjustment to the value of contingent consideration obligations related to vixotrigine. + + + + + + •Fourth quarter 2022 GAAP and Non-GAAP collaboration profit sharing was a net expense of $35 million, which includes $46 million of net profit sharing expense related to Biogen's collaboration with Samsung Bioepis, partially offset by reimbursement of $11 million from Eisai related to ADUHELM in the U.S. Full year 2022 GAAP and Non-GAAP collaboration profit sharing reduced our net operating expense by $7 million, which includes reimbursement of $225 million from Eisai related to ADUHELM in the U.S., partially offset by $217 million of net profit sharing expense related to Biogen's collaboration with Samsung Bioepis. + + + + + + •Fourth quarter 2022 GAAP other expense was $113 million, primarily driven by net unrealized losses on strategic equity investments of $107 million. Fourth quarter 2022 Non-GAAP other expense was $7 million, primarily driven by net interest expense. Full year 2022 GAAP other income was $108 million, driven by a realized gain of $1,505 million related to the sale of equity interest in Samsung Bioepis, partially offset by net unrealized losses on strategic equity investments of $265 million, net interest expense of $157 million, and an expense of $917 million related to the previously disclosed litigation settlement. Full year 2022 Non-GAAP other expense was $213 million, primarily driven by net interest expense. + + + + + + •Fourth quarter 2022 GAAP and Non-GAAP effective tax rates were 9% and 15%, respectively. The fourth quarter 2022 effective GAAP tax rate benefited from the decision to discontinue development of vixotrigine and the resulting impairment and adjustment to contingent consideration as well as mark-to-market losses on our marketable equity securities portfolio. Full year 2022 GAAP and Non-GAAP effective tax rates were 18% and 15%, respectively. The full year 2022 GAAP effective tax rate was unfavorably impacted by a valuation allowance recorded on Neurimmune's tax basis in ADUHELM as well as the non-deductible portion of the previously disclosed litigation settlement, partially offset by the deferred tax benefits of an international restructuring. + + + 3 + + + + + + Financial Position + + + + + + •Fourth quarter 2022 net cash outflow from operations was $175 million, which includes a payment of approximately $917 million related to the previously disclosed litigation settlement. Capital expenditures were $86 million, and free cash flow, defined as cash flow from operations less capital expenditures, was a net cash outflow of $261 million. + + + + + + •Full year 2022 cash flow from operations was $1,384 million, which also includes the payment of approximately $917 million related to the previously disclosed litigation settlement. Capital expenditures were $240 million, and free cash flow, defined as cash flow from operations less capital expenditures, was $1,144 million. + + + + + + •As of December 31, 2022, Biogen had cash, cash equivalents, and marketable securities totaling $5,598 million and $6,281 million in total debt, resulting in net debt of $683 million. + + + + + + •Throughout 2022 Biogen repurchased approximately 3.6 million shares of the Company's common stock for a total value of $750 million. No shares were repurchased in the fourth quarter of 2022. As of December 31, 2022, there was $2,050 million remaining under the share repurchase program authorized in October 2020. + + + + + + •For the fourth quarter of 2022 the Company's weighted average diluted shares were 145 million. For 2022 the Company's full year weighted average diluted shares were 146 million. + + + + + + Full Year 2023 Financial Guidance + + + + + + For the full year 2023, Biogen expects revenue and Non-GAAP diluted EPS guidance ranges as follows: + + + + + + + + + + Full Year 2023 + + + + + Total revenue + + + Mid-single digit percentage decline versus reported full year 2022 + + + + + Non-GAAP diluted EPS + + + $15.00 to $16.00 + + + + + + + + + This guidance assumes a favorable decision by the Court of Justice of the European Union relating to regulatory data protection for TECFIDERA, which is currently expected on March 16, 2023, although Biogen cannot predict the outcome. + + + + + + Biogen expects modest in-market revenue for LEQEMBITM in 2023 with commercialization expenses exceeding revenue. Biogen will record its share of net commercial profits and losses for LEQEMBI in the U.S. as a component of total revenue, which is expected to be a headwind to revenue in 2023. + + + + + + This guidance assumes that foreign exchange rates as of December 31, 2022, will remain in effect for the remainder of the year, net of hedging activities. + + + + + + This financial guidance does not include any impact from potential acquisitions or large business development transactions or pending and future litigation, as all are hard to predict, or any impact of potential tax or healthcare reform. Biogen may incur charges, realize gains or losses, or experience other events or circumstances in 2023 that could cause any of these assumptions to change and/or actual results to vary from this financial guidance. + + + + + + Biogen does not provide guidance for GAAP reported financial measures (other than revenue) or a reconciliation of forward-looking Non-GAAP financial measures to the most directly comparable GAAP reported financial measures because the Company is unable to predict with reasonable certainty the financial impact of items such as the transaction, integration, and certain other costs related to acquisitions or large business development transactions; unusual gains and losses; potential future asset impairments; gains and losses from our equity security investments; and the ultimate outcome of pending significant litigation without unreasonable effort. These items are uncertain, depend on various factors, + + + 4 + + + + + + and could have a material impact on GAAP reported results for the guidance period. For the same reasons, the Company is unable to address the significance of the unavailable information, which could be material to future results. + + + + + + Recent Developments + + + + + + •In the fourth quarter of 2022 Biogen initiated a Phase 2 Study of BIIB080 (anti-tau ASO) in early Alzheimer's disease. + + + + + + •In the fourth quarter of 2022 Biogen initiated the Phase 1 Study of BIIB115, an ASO in development for SMA that may have the potential to help address additional unmet needs of patients as well as to be administered at extended dosing intervals. + + + + + + •In February 2023 Biogen notified InnoCare Pharma Limited of its decision to terminate its license and collaboration agreement with InnoCare for orelabrutinib, an oral small molecule Bruton's tyrosine kinase (BTK) inhibitor for the potential treatment of MS. + + + + + + Conference Call and Webcast + + + The Company's earnings conference call for the fourth quarter and full year will be broadcast via the internet at 8:00 a.m. ET on February 15, 2023 and will be accessible through the Investors section of Biogen's website, www.biogen.com. Supplemental information in the form of a slide presentation is also accessible at the same location on the internet and will be subsequently available on the website for at least one month. + + + About Biogen + + + Founded in 1978, Biogen is a leading global biotechnology company that has pioneered multiple breakthrough innovations including a broad portfolio of medicines to treat multiple sclerosis, the first approved treatment for spinal muscular atrophy, and two co-developed treatments to address a defining pathology of Alzheimer's disease. Biogen is advancing a pipeline of potential novel therapies across neurology, neuropsychiatry, specialized immunology and rare diseases and remains acutely focused on its purpose of serving humanity through science while advancing a healthier, more sustainable and equitable world. + + + + + + We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media - Twitter, LinkedIn, Facebook, YouTube. + + + + + + Biogen Safe Harbor + + + + + + This press release contains forward-looking statements relating to: our strategy and plans; potential of, and expectations for, our commercial business and pipeline programs; capital allocation and investment strategy; clinical development programs, clinical trials, and data readouts and presentations; regulatory discussions, submissions, filings, and approvals; the potential benefits, safety, and efficacy of our and our collaboration partners' products and investigational therapies; the anticipated benefits and potential of investments, optimization of the cost structure, actions to improve risk profile and productivity of R&D pipeline, collaborations, and business development activities; our future financial and operating results; 2023 financial guidance. These forward-looking statements may be accompanied by such words as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "plan," "potential," "possible," "prospect," "will," "would," and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements. + + + + + + These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including: our dependence on sales from our products; uncertainty of + + + 5 + + + + + + long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; failure to compete effectively due to significant product competition in the markets for our products; failure to successfully execute or realize the anticipated benefits of our strategic and growth initiatives; difficulties in obtaining and maintaining adequate coverage, pricing, and reimbursement for our products; our dependence on collaborators, joint venture partners, and other third parties for the development, regulatory approval, and commercialization of products and other aspects of our business, which are outside of our full control; the potential impact of the conflict in Ukraine; risks associated with current and potential future healthcare reforms; risks related to commercialization of biosimilars; failure to obtain, protect, and enforce our data, intellectual property, and other proprietary rights and the risks and uncertainties relating to intellectual property claims and challenges; the risk that positive results in a clinical trial may not be replicated in subsequent or confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical trials or trials in other potential indications; risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates; the occurrence of adverse safety events, restrictions on use with our products, or product liability claims; risks relating to technology failures or breaches; problems with our manufacturing processes; risks relating to management and personnel changes, including attracting and retaining personnel; failure to comply with legal and regulatory requirements; the risks of doing business internationally, including currency exchange rate fluctuations; risks relating to investment in our manufacturing capacity; the direct and indirect impacts of the ongoing COVID-19 pandemic on our business; risks relating to the distribution and sale by third parties of counterfeit or unfit versions of our products; risks relating to the use of social media for our business; results of operations, and financial condition; fluctuations in our operating results; risks related to investment in properties; the market, interest, and credit risks associated with our investment portfolio; risks relating to share repurchase programs; risks relating to access to capital and credit markets; risks related to indebtedness; change in control provisions in certain of our collaboration agreements; fluctuations in our effective tax rate; environmental risks; and any other risks and uncertainties that are described in other reports we have filed with the U.S. Securities and Exchange Commission. + + + + + + These statements speak only as of the date of this press release. We do not undertake any obligation to publicly update any forward-looking statements. + + + + + + ### + + + + + + + + + + + + + MEDIA CONTACT: + + + + INVESTOR CONTACT: + + + + + + Biogen + + + + Biogen + + + + + + Jack Cox + + + + Mike Hencke + + + + + + + Tel: +1 210-544-7920 + + + + + Tel: +1 781-464-2442 + + + + + + + public.affairs@biogen.com + + + + + IR@biogen.com + + + + + + + + + + + + + + + + + + + + + + + + + + + 6 + + + + + + TABLE 1 + + + + + + BIOGEN INC. AND SUBSIDIARIES + + + CONDENSED CONSOLIDATED STATEMENT OF INCOME + + + (unaudited, in millions, except per share amounts) + + + + + + + + + + + + + For the Three Months Ended December 31, + + + For the Twelve Months Ended December 31, + + + + + 2022 + + + 2021 + + + 2022 + + + 2021 + + + + + Revenue: + + + + + Product, net + + + $ + + + 1,904.5 + + + $ + + + 2,193.5 + + + $ + + + 7,987.8 + + + $ + + + 8,846.9 + + + + + Revenue from anti-CD20 therapeutic programs + + + 447.9 + + + 414.1 + + + 1,700.5 + + + 1,658.5 + + + + + Other + + + 191.6 + + + 126.2 + + + 485.1 + + + 476.3 + + + + + Total revenue + + + 2,544.0 + + + 2,733.8 + + + 10,173.4 + + + 10,981.7 + + + + + Cost and expense: + + + + + Cost of sales, excluding amortization and impairment of acquired intangible assets + + + 570.9 + + + 660.1 + + + 2,278.3 + + + 2,109.7 + + + + + Research and development + + + 601.6 + + + 699.5 + + + 2,231.1 + + + 2,501.2 + + + + + Selling, general and administrative + + + 632.8 + + + 787.9 + + + 2,403.6 + + + 2,674.3 + + + + + Amortization and impairment of acquired intangible assets + + + 175.0 + + + 68.1 + + + 365.9 + + + 881.3 + + + + + Collaboration profit (loss) sharing + + + 35.2 + + + (67.3) + + + (7.4) + + + 7.2 + + + + + (Gain) loss on fair value remeasurement of contingent consideration + + + (195.3) + + + (1.6) + + + (209.1) + + + (50.7) + + + + + Acquired in-process research and development + + + - + + + - + + + - + + + 18.0 + + + + + Restructuring charges + + + 6.9 + + + - + + + 131.1 + + + - + + + + + Gain on sale of building + + + - + + + - + + + (503.7) + + + - + + + + + Other (income) expense, net + + + 113.1 + + + 182.1 + + + (108.2) + + + 1,095.5 + + + + + Total cost and expense + + + 1,940.2 + + + 2,328.8 + + + 6,581.6 + + + 9,236.5 + + + + + Income before income tax expense and equity in loss of investee, net of tax + + + 603.8 + + + 405.0 + + + 3,591.8 + + + 1,745.2 + + + + + Income tax (benefit) expense + + + 54.3 + + + 443.2 + + + 632.8 + + + 52.5 + + + + + Equity in (income) loss of investee, net of tax + + + - + + + (17.7) + + + (2.6) + + + (34.9) + + + + + Net income + + + 549.5 + + + (20.5) + + + 2,961.6 + + + 1,727.6 + + + + + Net income (loss) attributable to noncontrolling interests, net of tax + + + (0.9) + + + (388.7) + + + (85.3) + + + 171.5 + + + + + Net income attributable to Biogen Inc. + + + $ + + + 550.4 + + + $ + + + 368.2 + + + $ + + + 3,046.9 + + + $ + + + 1,556.1 + + + + + + + + + Net income per share: + + + + + Basic earnings per share attributable to Biogen Inc. + + + $ + + + 3.82 + + + $ + + + 2.51 + + + $ + + + 20.96 + + + $ + + + 10.44 + + + + + Diluted earnings per share attributable to Biogen Inc. + + + $ + + + 3.79 + + + $ + + + 2.50 + + + $ + + + 20.87 + + + $ + + + 10.40 + + + + + + + + + Weighted-average shares used in calculating: + + + + + Basic earnings per share attributable to Biogen Inc. + + + 144.1 + + + 146.9 + + + 145.3 + + + 149.1 + + + + + Diluted earnings per share attributable to Biogen Inc. + + + 145.2 + + + 147.5 + + + 146.0 + + + 149.6 + + + + + + 8 + + + + + + TABLE 2 + + + + + + BIOGEN INC. AND SUBSIDIARIES + + + CONDENSED CONSOLIDATED BALANCE SHEETS + + + (unaudited, in millions) + + + + + + + + + + + + + As of December 31, 2022 + + + As of December 31, 2021 + + + + + ASSETS + + + + + Cash and cash equivalents + + + $ + + + 3,419.3 + + + $ + + + 2,261.4 + + + + + Marketable securities + + + 1,473.5 + + + 1,541.1 + + + + + Accounts receivable, net + + + 1,705.0 + + + 1,549.4 + + + + + Due from anti-CD20 therapeutic programs, net + + + 431.4 + + + 412.3 + + + + + Inventory + + + 1,344.4 + + + 1,351.5 + + + + + Other current assets + + + 1,417.6 + + + 740.8 + + + + + Total current assets + + + 9,791.2 + + + 7,856.5 + + + + + Marketable securities + + + 705.7 + + + 892.0 + + + + + Property, plant and equipment, net + + + 3,298.6 + + + 3,416.4 + + + + + Operating lease assets + + + 403.9 + + + 375.4 + + + + + Intangible assets, net + + + 1,850.1 + + + 2,221.3 + + + + + Goodwill + + + 5,749.0 + + + 5,761.1 + + + + + Deferred tax asset + + + 1,226.4 + + + 1,415.1 + + + + + Investments and other assets + + + 1,529.2 + + + 1,939.5 + + + + + TOTAL ASSETS + + + $ + + + 24,554.1 + + + $ + + + 23,877.3 + + + + + + + + + LIABILITIES AND EQUITY + + + + + Current portion of notes payable + + + $ + + + - + + + $ + + + 999.1 + + + + + Taxes payable + + + 259.9 + + + 174.7 + + + + + Accounts payable + + + 491.5 + + + 589.2 + + + + + Accrued expenses and other + + + 2,521.4 + + + 2,535.2 + + + + + Total current liabilities + + + 3,272.8 + + + 4,298.2 + + + + + Notes payable + + + 6,281.0 + + + 6,274.0 + + + + + Deferred tax liability + + + 334.7 + + + 694.5 + + + + + Long-term operating lease liabilities + + + 333.0 + + + 330.4 + + + + + Other long-term liabilities + + + 944.2 + + + 1,320.5 + + + + + Equity + + + 13,388.4 + + + 10,959.7 + + + + + TOTAL LIABILITIES AND EQUITY + + + $ + + + 24,554.1 + + + $ + + + 23,877.3 + + + + + + + + + 9 + + + + + + TABLE 3 + + + + + + BIOGEN INC. AND SUBSIDIARIES + + + PRODUCT REVENUE & TOTAL REVENUE + + + (unaudited, in millions) + + + + + + + + + + + + For the Three Months Ended December 31, + + + + + + + 2022 + + + 2021 + + + + + United + States + + + Rest of + World + + + Total + + + United + States + + + Rest of + World + + + Total + + + + + Multiple Sclerosis (MS): + + + + + + TECFIDERA® + + + + $ + + + 87.4 + + + $ + + + 209.7 + + + $ + + + 297.1 + + + $ + + + 160.5 + + + $ + + + 326.0 + + + $ + + + 486.5 + + + + + + VUMERITY®* + + + + 138.3 + + + 12.5 + + + 150.8 + + + 123.9 + + + 1.0 + + + 124.9 + + + + + Total Fumarate + + + 225.7 + + + 222.2 + + + 447.9 + + + 284.4 + + + 327.0 + + + 611.4 + + + + + + + + + + AVONEX® + + + + 155.4 + + + 74.7 + + + 230.1 + + + 193.8 + + + 91.6 + + + 285.4 + + + + + + PLEGRIDY® + + + + 34.2 + + + 45.3 + + + 79.5 + + + 37.7 + + + 54.6 + + + 92.3 + + + + + Total Interferon + + + 189.6 + + + 120.0 + + + 309.6 + + + 231.5 + + + 146.2 + + + 377.7 + + + + + + + + + + TYSABRI® + + + + 274.0 + + + 214.4 + + + 488.4 + + + 288.0 + + + 224.7 + + + 512.7 + + + + + + FAMPYRA® + + + + - + + + 22.9 + + + 22.9 + + + - + + + 26.4 + + + 26.4 + + + + + Total MS product revenue, net + + + 689.3 + + + 579.5 + + + 1,268.8 + + + 803.9 + + + 724.3 + + + 1,528.2 + + + + + + + + + Spinal Muscular Atrophy: + + + + + SPINRAZA + + + 156.9 + + + 301.9 + + + 458.8 + + + 150.1 + + + 290.6 + + + 440.7 + + + + + + + + + Biosimilars: + + + + + BENEPALI™ + + + - + + + 100.3 + + + 100.3 + + + - + + + 134.4 + + + 134.4 + + + + + IMRALDI™ + + + - + + + 52.1 + + + 52.1 + + + - + + + 62.5 + + + 62.5 + + + + + FLIXABI™ + + + - + + + 19.3 + + + 19.3 + + + - + + + 24.0 + + + 24.0 + + + + + BYOOVIZ™ ** + + + 3.1 + + + - + + + 3.1 + + + - + + + - + + + - + + + + + Total biosimilars product revenue, net + + + 3.1 + + + 171.7 + + + 174.8 + + + - + + + 220.9 + + + 220.9 + + + + + + + + + Other: + + + + + FUMADERM™ + + + - + + + 1.8 + + + 1.8 + + + - + + + 2.7 + + + 2.7 + + + + + + ADUHELM® + + + + 0.3 + + + - + + + 0.3 + + + 1.0 + + + - + + + 1.0 + + + + + Total product revenue, net + + + $ + + + 849.6 + + + $ + + + 1,054.9 + + + $ + + + 1,904.5 + + + $ + + + 955.0 + + + $ + + + 1,238.5 + + + $ + + + 2,193.5 + + + + + + + + + + + + + + + + + + * VUMERITY became commercially available in the European Union (E.U.) during the fourth quarter of 2021. + + + ** BYOOVIZ launched in the United States (U.S.) in June 2022 and became commercially available during the third quarter of 2022. + + + 10 + + + + + + TABLE 3 (continued) + + + + + + BIOGEN INC. AND SUBSIDIARIES + + + PRODUCT REVENUE & TOTAL REVENUE + + + (unaudited, in millions) + + + + + + + + + + + + For the Twelve Months Ended December 31, + + + + + + + 2022 + + + 2021 + + + + + United + States + + + Rest of + World + + + Total + + + United + States + + + Rest of + World + + + Total + + + + + Multiple Sclerosis (MS): + + + + + + TECFIDERA® + + + + $ + + + 417.7 + + + $ + + + 1,026.2 + + + $ + + + 1,443.9 + + + $ + + + 680.6 + + + $ + + + 1,271.3 + + + $ + + + 1,951.9 + + + + + + VUMERITY®* + + + + 521.3 + + + 32.1 + + + 553.4 + + + 408.9 + + + 1.5 + + + 410.4 + + + + + Total Fumarate + + + 939.0 + + + 1,058.3 + + + 1,997.3 + + + 1,089.5 + + + 1,272.8 + + + 2,362.3 + + + + + + + + + + AVONEX® + + + + 649.2 + + + 324.3 + + + 973.5 + + + 830.2 + + + 378.5 + + + 1,208.7 + + + + + + PLEGRIDY® + + + + 148.4 + + + 183.5 + + + 331.9 + + + 152.9 + + + 204.5 + + + 357.4 + + + + + Total Interferon + + + 797.6 + + + 507.8 + + + 1,305.4 + + + 983.1 + + + 583.0 + + + 1,566.1 + + + + + + + + + + TYSABRI® + + + + 1,123.4 + + + 907.5 + + + 2,030.9 + + + 1,142.2 + + + 920.9 + + + 2,063.1 + + + + + + FAMPYRA® + + + + - + + + 96.6 + + + 96.6 + + + - + + + 105.2 + + + 105.2 + + + + + Total MS product revenue, net + + + 2,860.0 + + + 2,570.2 + + + 5,430.2 + + + 3,214.8 + + + 2,881.9 + + + 6,096.7 + + + + + + + + + Spinal Muscular Atrophy: + + + + + SPINRAZA + + + 600.2 + + + 1,193.3 + + + 1,793.5 + + + 587.9 + + + 1,317.2 + + + 1,905.1 + + + + + + + + + Biosimilars: + + + + + BENEPALI™ + + + - + + + 441.0 + + + 441.0 + + + - + + + 498.3 + + + 498.3 + + + + + IMRALDI™ + + + - + + + 224.5 + + + 224.5 + + + - + + + 233.4 + + + 233.4 + + + + + FLIXABI™ + + + - + + + 81.3 + + + 81.3 + + + - + + + 99.4 + + + 99.4 + + + + + BYOOVIZ™ ** + + + 4.3 + + + - + + + 4.3 + + + - + + + - + + + - + + + + + Total biosimilars product revenue, net + + + 4.3 + + + 746.8 + + + 751.1 + + + - + + + 831.1 + + + 831.1 + + + + + + + + + Other: + + + + + FUMADERM™ + + + - + + + 8.2 + + + 8.2 + + + - + + + 11.0 + + + 11.0 + + + + + + ADUHELM® + + + + 4.8 + + + - + + + 4.8 + + + 3.0 + + + - + + + 3.0 + + + + + Total product revenue, net + + + $ + + + 3,469.3 + + + $ + + + 4,518.5 + + + $ + + + 7,987.8 + + + $ + + + 3,805.7 + + + $ + + + 5,041.2 + + + $ + + + 8,846.9 + + + + + + + + + + + + + + + + + + * VUMERITY became commercially available in the E.U. during the fourth quarter of 2021. + + + ** BYOOVIZ launched in the U.S. in June 2022 and became commercially available during the third quarter of 2022. + + + + + + + + + + + + + For the Three Months Ended December 31, + + + For the Twelve Months Ended December 31, + + + + + (In millions) + + + 2022 + + + 2021 + + + 2022 + + + 2021 + + + + + Product revenue + + + $ + + + 1,904.5 + + + $ + + + 2,193.5 + + + $ + + + 7,987.8 + + + $ + + + 8,846.9 + + + + + OCREVUS royalties + + + 311.1 + + + 261.2 + + + 1,136.3 + + + 991.7 + + + + + + RITUXAN/GAZYVA® revenue + + + + 136.8 + + + 152.9 + + + 564.2 + + + 666.8 + + + + + Other revenue + + + 191.6 + + + 126.2 + + + 485.1 + + + 476.3 + + + + + Total revenue + + + $ + + + 2,544.0 + + + $ + + + 2,733.8 + + + $ + + + 10,173.4 + + + $ + + + 10,981.7 + + + + + + + + + 11 + + + + + + TABLE 4 + + + + + + BIOGEN INC. AND SUBSIDIARIES + + + GAAP TO NON-GAAP RECONCILIATION + + + OPERATING EXPENSE, OTHER (INCOME) EXPENSE, NET, AND INCOME TAX + + + (unaudited, in millions, except per share amounts) + + + We supplement our GAAP consolidated financial statements and GAAP financial measures with other financial measures, such as adjusted net income, adjusted diluted earnings per share, revenue growth at constant currency, which excludes the impact of changes in foreign exchange rates and hedging gains or losses, and free cash flow, which is defined as net cash flow from operations less capital expenditures. We believe that these and other Non-GAAP financial measures provide additional insight into the ongoing economics of our business and reflect how we manage our business internally, set operational goals and form the basis of our management incentive programs. Non-GAAP financial measures are in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. + + + + + + + + + + For the Three Months Ended December 31, + + + For the Twelve Months Ended December 31, + + + + + (In millions, except per share amounts) + + + + 2022(1) + + + + + 2021(1)(2) + + + + + 2022(1) + + + + + 2021(1)(2) + + + + + + Selling, General and Administrative Expense: + + + + + Total selling, general and administrative, GAAP + + + $ + + + 632.8 + + + $ + + + 787.9 + + + $ + + + 2,403.6 + + + $ + + + 2,674.3 + + + + + Less: other + + + 0.6 + + + 2.7 + + + 4.1 + + + 7.9 + + + + + Total selling, general and administrative, Non-GAAP + + + $ + + + 632.2 + + + $ + + + 785.2 + + + $ + + + 2,399.5 + + + $ + + + 2,666.4 + + + + + + + + + Amortization and Impairment of Acquired Intangible Assets: + + + + + Total amortization and impairment of acquired intangible assets, GAAP + + + $ + + + 175.0 + + + $ + + + 68.1 + + + $ + + + 365.9 + + + $ + + + 881.3 + + + + + + Less: impairment charges A + + + + 119.6 + + + - + + + 119.6 + + + 629.3 + + + + + Less: amortization of acquired intangible assets + + + 47.1 + + + 60.5 + + + 215.2 + + + 237.1 + + + + + Total amortization and impairment of acquired intangible assets, Non-GAAP + + + $ + + + 8.3 + + + $ + + + 7.6 + + + $ + + + 31.1 + + + $ + + + 14.9 + + + + + + + + + Other (Income) Expense, net: + + + + + Total other (income) expense, net, GAAP + + + $ + + + 113.1 + + + $ + + + 182.1 + + + $ + + + (108.2) + + + $ + + + 1,095.5 + + + + + Less: (gain) loss on equity security investments + + + 106.5 + + + 115.4 + + + 264.6 + + + 821.3 + + + + + + Less: (gain) on sale of equity interest in Samsung Bioepis B + + + + - + + + - + + + (1,505.3) + + + - + + + + + + Less: litigation settlement agreement and settled fees C + + + + - + + + - + + + 917.0 + + + - + + + + + + Less: premium paid on debt exchange or early debt redemption D + + + + - + + + - + + + 2.2 + + + 9.5 + + + + + Total other (income) expense, net, Non-GAAP + + + $ + + + 6.6 + + + $ + + + 66.7 + + + $ + + + 213.3 + + + $ + + + 264.7 + + + + + + + + + Income Tax (Benefit) Expense: + + + + + Total income tax (benefit) expense, GAAP + + + $ + + + 54.3 + + + $ + + + 443.2 + + + $ + + + 632.8 + + + $ + + + 52.5 + + + + + + Less: Neurimmune step-up tax basis E + + + + - + + + 395.6 + + + 83.9 + + + (96.4) + + + + + Less: international reorganization & income tax effect related to Non-GAAP reconciling items + + + (48.7) + + + (52.7) + + + 84.4 + + + (384.2) + + + + + Total income tax expense, Non-GAAP + + + $ + + + 103.0 + + + $ + + + 100.3 + + + $ + + + 464.5 + + + $ + + + 533.1 + + + + + + + + + Effective Tax Rate: + + + + + Total effective tax rate, GAAP + + + 9.0 + + + % + + + 109.5 + + + % + + + 17.6 + + + % + + + 3.0 + + + % + + + + + + Less: Neurimmune step-up tax basis E + + + + - + + + 97.7 + + + 2.2 + + + (5.5) + + + + + Less: impact of GAAP to Non-GAAP adjustments + + + (5.9) + + + (5.4) + + + 0.1 + + + (7.2) + + + + + Total effective tax rate, Non-GAAP + + + 14.9 + + + % + + + 17.2 + + + % + + + 15.3 + + + % + + + 15.7 + + + % + + + + + + + + + + 12 + + + + + + TABLE 4 (continued) + + + + + + BIOGEN INC. AND SUBSIDIARIES + + + GAAP TO NON-GAAP RECONCILIATION + + + NET INCOME ATTRIBUTABLE TO BIOGEN INC. & DILUTED EPS + + + (unaudited, in millions, except per share amounts) + + + + + + + + + + + + + For the Three Months Ended December 31, + + + For the Twelve Months Ended December 31, + + + + + (In millions, except per share amounts) + + + + 2022(1) + + + + + 2021(1)(2) + + + + + 2022(1) + + + + + 2021(1)(2) + + + + + + Net Income Attributable to Biogen Inc.: + + + + + Total net income attributable to Biogen Inc., GAAP + + + $ + + + 550.4 + + + $ + + + 368.2 + + + $ + + + 3,046.9 + + + $ + + + 1,556.1 + + + + + + Plus: impairment charges A + + + + 119.6 + + + - + + + 119.6 + + + 629.3 + + + + + Plus: amortization of acquired intangible assets + + + 47.1 + + + 60.5 + + + 215.2 + + + 237.1 + + + + + Plus: acquired in-process research and development + + + - + + + - + + + - + + + - + + + + + Plus: restructuring charges + + + 6.9 + + + - + + + 131.1 + + + - + + + + + + Plus: (gain) loss on fair value remeasurement of contingent consideration A + + + + (195.3) + + + (1.6) + + + (209.1) + + + (50.7) + + + + + Plus: (gain) loss on equity security investments + + + 106.5 + + + 115.4 + + + 264.6 + + + 821.3 + + + + + Plus: net distribution to noncontrolling interests & amortization of equity in (income) loss of investee + + + - + + + 7.5 + + + 12.9 + + + 34.1 + + + + + + Plus: gain on sale of equity interest in Samsung Bioepis B + + + + - + + + - + + + (1,505.3) + + + - + + + + + + Plus: litigation settlement agreement and settled fees C + + + + - + + + - + + + 917.0 + + + - + + + + + + Plus: (gain) on sale of building F + + + + - + + + - + + + (503.7) + + + - + + + + + + Plus: premium paid on debt exchange or early debt redemption D + + + + - + + + - + + + 2.2 + + + 9.5 + + + + + Plus: international reorganization & income tax effect related to Non-GAAP reconciling items + + + (48.7) + + + (52.7) + + + 84.4 + + + (384.2) + + + + + Plus: other + + + 0.7 + + + 3.1 + + + 4.2 + + + 8.3 + + + + + Total net income attributable to Biogen Inc., Non-GAAP + + + $ + + + 587.2 + + + $ + + + 500.4 + + + $ + + + 2,580.0 + + + $ + + + 2,860.8 + + + + + + + + + Diluted Earnings Per Share + + + + + Total diluted earnings per share, GAAP + + + $ + + + 3.79 + + + $ + + + 2.50 + + + $ + + + 20.87 + + + $ + + + 10.40 + + + + + (Less) Plus: adjustments to GAAP net income attributable to Biogen Inc. (as detailed above) + + + 0.26 + + + 0.89 + + + (3.20) + + + 8.73 + + + + + Total diluted earnings per share, Non-GAAP + + + $ + + + 4.05 + + + $ + + + 3.39 + + + $ + + + 17.67 + + + $ + + + 19.13 + + + + + + + + + + (1)Beginning in the second quarter of 2021 material upfront payments and premiums paid on the acquisition of common stock associated with significant collaboration and licensing arrangements along with the related transaction costs incurred are no longer excluded from Non-GAAP research and development expense and selling, general and administrative expense. Beginning in the first quarter of 2022 material payments paid on the acquisition of in-process research and development assets are no longer excluded in the determination of Non-GAAP net income. Prior period Non-GAAP results have been updated to reflect these changes. + + + + + + (2) Beginning in the third quarter of 2021 amortization expense recorded in intangible assets that arose from collaboration and licensing arrangements is no longer excluded from our Non-GAAP results on a prospective basis. Non-GAAP financial results prior to the third quarter of 2021 have not been updated to reflect this change. + + + 13 + + + + + + TABLE 4 (continued) + + + + + + BIOGEN INC. AND SUBSIDIARIES + + + GAAP TO NON-GAAP RECONCILIATION + + + REVENUE GROWTH AT CONSTANT CURRENCY + + + (unaudited) + + + Percentage changes in revenue growth at constant currency are presented excluding the impact of changes in foreign currency exchange rates and hedging gains or losses. The current period's foreign currency revenue values are converted into U.S. dollars using the average exchange rates from the prior period. + + + + + + + + + + Q4 2022 + vs. + Q4 2021 + + + YTD 2022 + vs. + YTD 2021 + + + + + Total Revenue + + + + + Revenue change, as reported + + + (6.9) + + + % + + + (7.4) + + + % + + + + + Less: impact of foreign currency translation and hedging gains / losses + + + (2.9) + + + (2.0) + + + + + Revenue change at constant currency + + + (4.0) + + + % + + + (5.4) + + + % + + + + + + + + + Total Product Revenue + + + + + Revenue change, as reported + + + (13.2) + + + % + + + (9.7) + + + % + + + + + Less: impact of foreign currency translation and hedging gains / losses + + + (3.6) + + + (2.4) + + + + + Revenue change at constant currency + + + (9.6) + + + % + + + (7.3) + + + % + + + + + + + + + Total MS Product Revenue + + + + + Revenue change, as reported + + + (17.0) + + + % + + + (10.9) + + + % + + + + + Less: impact of foreign currency translation and hedging gains / losses + + + (2.8) + + + (1.6) + + + + + Revenue change at constant currency + + + (14.2) + + + % + + + (9.3) + + + % + + + + + + + + + Total SPINRAZA Product Revenue + + + + + Revenue change, as reported + + + 4.1 + + + % + + + (5.9) + + + % + + + + + Less: impact of foreign currency translation and hedging gains / losses + + + (5.6) + + + (3.9) + + + + + Revenue change at constant currency + + + 9.7 + + + % + + + (2.0) + + + % + + + + + + + + + Total Biosimilars Product Revenue + + + + + Revenue change, as reported + + + (20.9) + + + % + + + (9.6) + + + % + + + + + Less: impact of foreign currency translation and hedging gains / losses + + + (5.6) + + + (5.2) + + + + + Revenue change at constant currency + + + (15.3) + + + % + + + (4.4) + + + % + + + + + + + + + Total Other Product Revenue + + + + + Revenue change, as reported + + + (42.1) + + + % + + + (7.3) + + + % + + + + + Less: impact of foreign currency translation and hedging gains / losses + + + (6.4) + + + (7.2) + + + + + Revenue change at constant currency + + + (35.7) + + + % + + + (0.1) + + + % + + + + + + + + + Total Other Revenue (contract manufacturing and royalty revenue) + + + + + Revenue change, as reported + + + 51.9 + + + % + + + 1.9 + + + % + + + + + Less: impact of foreign currency translation and hedging gains / losses + + + (0.3) + + + (0.3) + + + + + Revenue change at constant currency + + + 52.2 + + + % + + + 2.2 + + + % + + + + + + 14 + + + + + + TABLE 4 (continued) + + + + + + BIOGEN INC. AND SUBSIDIARIES + + + GAAP TO NON-GAAP RECONCILIATION + + + FREE CASH FLOW + + + (unaudited, in millions) + + + We define free cash flow as net cash provided by (used in) operating activities in the period less capital expenditures made in the period. The following table reconciles net cash provided by (used in) operating activities, a GAAP measure, to free cash flow, a Non-GAAP measure. + + + + + + + + + + + + + For the Three Months Ended December 31, + + + For the Twelve Months Ended December 31, + + + + + 2022 + + + 2021 + + + 2022 + + + 2021 + + + + + Cash Flow: + + + + + Net cash provided by (used in) operating activities + + + $ + + + (175.0) + + + $ + + + 838.3 + + + $ + + + 1,384.3 + + + $ + + + 3,639.9 + + + + + Net cash provided by (used in) investing activities + + + (141.1) + + + (112.7) + + + 1,576.6 + + + (563.7) + + + + + Net cash provided by (used in) financing activities + + + (7.4) + + + 9.8 + + + (1,747.3) + + + (2,086.2) + + + + + Net increase (decrease) in cash and cash equivalents + + + $ + + + (323.5) + + + $ + + + 735.4 + + + $ + + + 1,213.6 + + + $ + + + 990.0 + + + + + + + + + Net cash provided by (used in) operating activities + + + $ + + + (175.0) + + + $ + + + 838.3 + + + $ + + + 1,384.3 + + + $ + + + 3,639.9 + + + + + Less: Purchases of property, plant and equipment + + + 86.4 + + + 51.6 + + + 240.3 + + + 258.1 + + + + + Free cash flow + + + $ + + + (261.4) + + + $ + + + 786.7 + + + $ + + + 1,144.0 + + + $ + + + 3,381.8 + + + + + + + + + 15 + + + + + + Notes to GAAP to Non-GAAP Reconciliation + + + A Amortization and impairment of acquired intangible assets for the year ended December 31, 2022, compared to 2021, decreased primarily due to higher impairment charges recognized during 2021. + + + For the year ended December 31, 2022, amortization and impairment of acquired intangible assets reflects the impact of a $119.6 million impairment charge related to vixotrigine (BIIB074) for the potential treatment of diabetic painful neuropathy (DPN). During the fourth quarter of 2022 we discontinued further development of vixotrigine based on regulatory, development and commercialization challenges. We also adjusted the value of our contingent consideration obligations related to this asset resulting in a pre-tax gain of approximately $209.1 million, which was recognized in (gain) loss on fair value remeasurement of contingent consideration within our consolidated statements of income. + + + For the year ended December 31, 2021, amortization and impairment of acquired intangible assets reflects the impact of a $365.0 million impairment charge related to BIIB111, a $220.0 million impairment charge related to BIIB112 and a $44.3 million impairment charge related to vixotrigine for the potential treatment of trigeminal neuralgia (TGN). + + + + + + BIn April 2022 we completed the sale of our 49.9% equity interest in Samsung Bioepis to Samsung BioLogics Co., Ltd (Samsung BioLogics). Under the terms of this transaction, we received approximately $1.0 billion in cash at closing and expect to receive approximately $1.3 billion in cash to be deferred over two payments of approximately $812.5 million due at the first anniversary and approximately $437.5 million due at the second anniversary of the closing of this transaction. + + + For the year ended December 31, 2022, we recognized a pre-tax gain of approximately $1.5 billion related to this transaction, which was recorded in other (income) expense, net in our consolidated statements of income. + + + + + + C During the second quarter of 2022 we recorded a pre-tax charge of $900.0 million, plus settlement fees and expenses, related to a litigation settlement agreement to resolve a qui tam litigation relating to conduct prior to 2015. + + + + + + DIn July 2022 we redeemed our 3.625% Senior Notes prior to their maturity and recognized a net pre-tax charge of approximately $2.4 million upon the extinguishment of these Senior Notes, which primarily reflects the payment of an early call premium as well as the write-off of remaining unamortized original debt issuance costs and discount balances. These charges were recognized as interest expense in other (income) expense, net in our consolidated statements of income for the year ended December 31, 2022. + + + + + + E For the year ended December 31, 2022, compared to 2021, the increase in our effective tax rate, excluding the impact of the net Neurimmune deferred tax asset, as discussed below, includes the tax impacts of the litigation settlement agreement and the sale of our building at 125 Broadway. These increases were partially offset by the impact of the current year tax benefits related to an international reorganization to align with global tax developments, the impacts of the sale of our equity interest in Samsung Bioepis and the tax impacts of the decision to discontinue development of vixotrigine. Further in 2021, our effective tax rate benefited from the tax effects of the BIIB111 and BIIB112 impairment charges and the non-cash tax effects of changes in the value of our equity instruments. + + + During 2021 we recorded a net deferred tax asset in Switzerland of approximately $100.0 million on Neurimmune's tax basis in ADUHELM, the realization of which was dependent on future sales of ADUHELM. + + + During the first quarter of 2022, upon issuance of the final NCD related to ADUHELM, we recorded an increase in a valuation allowance of approximately $85.0 million to reduce the net value of this deferred tax asset to zero. These adjustments to our net deferred tax asset are each recorded with an equal and offsetting amount assigned to net income (loss) attributable to noncontrolling interests, net of tax in our consolidated statements of income, resulting in a zero net impact to net income attributable to Biogen Inc. + + + + + + F In September 2022 we completed the sale of our building and land parcel located at 125 Broadway for an aggregate sales price of approximately $603.0 million, which is inclusive of a $10.8 million tenant allowance. This sale resulted in a pre-tax gain on sale of approximately $503.7 million, net of transaction costs, which is reflected within gain on sale of building in our consolidated statements of income for the year ended December 31, 2022. + + + + + + 16 + + + + + + Use of Non-GAAP Financial Measures + + + We supplement our GAAP consolidated financial statements and GAAP financial measures with other financial measures, such as adjusted net income, adjusted diluted earnings per share, revenue growth at constant currency, which excludes the impact of changes in foreign exchange rates and hedging gains or losses, and free cash flow, which is defined as net cash flow from operations less capital expenditures. We believe that these and other Non-GAAP financial measures provide additional insight into the ongoing economics of our business and reflect how we manage our business internally, set operational goals and form the basis of our management incentive programs. Non-GAAP financial measures are in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. + + + Our "Non-GAAP net income attributable to Biogen Inc." and "Non-GAAP earnings per share - Diluted" financial measures exclude the following items from "GAAP net income attributable to Biogen Inc." and "GAAP earnings per share - Diluted": + + + 1. Acquisitions and divestitures + + + We exclude transaction, integration and certain other costs related to the acquisition and divestiture of businesses and items associated with the initial consolidation or deconsolidation of variable interest entities. These adjustments include, but are not limited to, the amortization and impairment of intangible assets, charges or credits from the fair value remeasurement of our contingent consideration obligations and losses on assets and liabilities held for sale. + + + 2. Restructuring, business transformation and other cost saving initiatives + + + We exclude costs associated with our execution of certain strategies and initiatives to streamline operations, achieve targeted cost reductions, rationalize manufacturing facilities or refocus research and development activities. These costs may include employee separation costs, retention bonuses, facility closing and exit costs, asset impairment charges or additional depreciation when the expected useful life of certain assets have been shortened due to changes in anticipated usage and other costs or credits that management believes do not have a direct correlation to our ongoing or future business operations. + + + 3. (Gain) loss on equity security investments + + + We exclude unrealized and realized gains and losses related to our equity security investments as we do not believe that these components of income or expense have a direct correlation to our ongoing or future business operations. + + + 4. Other items + + + We evaluate other items of income and expense on an individual basis and consider both the quantitative and qualitative aspects of the item, including (i) its size and nature, (ii) whether or not it relates to our ongoing business operations and (iii) whether or not we expect it to occur as part of our normal business on a regular basis. We also include an adjustment to reflect the related tax effect of all reconciling items within our reconciliation of our GAAP to Non-GAAP net income attributable to Biogen Inc. and earnings per share - diluted. + + + 17 + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Biogen Inc. published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 12:16:02 UTC. + + diff --git a/news/BIIB/2023.02.15/Biogen earnings beat estimates on boost from muscle disorder drug.txt b/news/BIIB/2023.02.15/Biogen earnings beat estimates on boost from muscle disorder drug.txt new file mode 100644 index 0000000000000000000000000000000000000000..6b28a6dd3496bea64c2b91a21ee2538ec26ce34d --- /dev/null +++ b/news/BIIB/2023.02.15/Biogen earnings beat estimates on boost from muscle disorder drug.txt @@ -0,0 +1 @@ +The company expects a full-year adjusted profit of $15 to $16 per share, compared with analysts' estimates of $15.72 per share.Biogen said it was expecting commercialization expenses for Leqembi, the Alzheimer's disease drug developed jointly with Eisai Co Ltd, to exceed revenue from the treatment in 2023. The company has been counting on Leqembi to help overcome a series of setbacks from its older Alzheimer's drug Aduhelm, as new Chief Executive Officer Christopher Viehbacher tries to jumpstart growth.Revenue for the quarter fell 6.9% to $2.54 billion, partly hit by a near 40% slump in sales of multiple sclerosis drug Tecfidera, but beat analysts' estimates of $2.44 billion. Tecfidera is facing competition from cheaper copycat drugs. Sales of its spinal muscular atrophy drug Spinraza rose 4.1% to $458.8 million, above estimates of $425.1 million.The company reported a Q4 adjusted profit of $4.05 per share, above Refinitiv IBES estimates of $3.48 per share. (Reporting by Manas Mishra and Sriparna Roy in Bengaluru; Editing by Anil D'Silva) \ No newline at end of file diff --git a/news/BIIB/2023.02.15/Drugmaker Biogen tops 4Q forecasts despite sales slip.txt b/news/BIIB/2023.02.15/Drugmaker Biogen tops 4Q forecasts despite sales slip.txt new file mode 100644 index 0000000000000000000000000000000000000000..c41bfa8824407862d366b9f93336d8fa5ea9eba0 --- /dev/null +++ b/news/BIIB/2023.02.15/Drugmaker Biogen tops 4Q forecasts despite sales slip.txt @@ -0,0 +1 @@ +Biogen closed 2022 with a better-than-expected fourth quarter, as more cost cutting helped counter sales declines for some key treatments.The drugmaker said Wednesday that total cost and expenses fell 17% in the quarter, and Biogen’s bottom line grew nearly 50% to $550.4 million.Adjusted earnings totaled $4.05 per share. Total revenue slid 7% to $2.54 billion. Sales of the company's multiple sclerosis treatments tumbled as cheaper generic competition hurt the drug Tecfidera.Analysts expected earnings of $3.48 per share on $2.44 billion in revenue, according to FactSet.Biogen embarked on a broad cost-cutting program last year, which included slashing most of its spending on Aduhelm. The once highly anticipated Alzheimer’s disease treatment has flopped since it debuted with strict government restrictions on who can take it.The drug brought in only $4.8 million in sales last year. Biogen’s top-selling multiple sclerosis treatment Tysabri generated $2 billion in global sales.Biogen Inc. made $3 billion in 2022, with adjusted earnings totaling $17.67 per share.For 2023, the company forecasts adjusted earnings to range between $15 and $16 per share.Analysts forecast $15.80 per share.Biogen also expects revenue to slip next year. The company is helping to produce and sell another Alzheimer's treatment, Leqembi from the Japanese drugmaker Eisai. Biogen said Wednesday that it predicts expenses tied to the drug will exceed the “modest” initial revenue it expects from Leqembi.Shares of the Cambridge, Massachusetts-based company fell more than 2%, or $7.45, to $281.63 in midday trading. Broader indexes were down less than 1%.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/BIIB/2023.02.15/Futures slip ahead of retail sales data.txt b/news/BIIB/2023.02.15/Futures slip ahead of retail sales data.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a3e14fe9bdf8be2267111006af0d2a12d84224d --- /dev/null +++ b/news/BIIB/2023.02.15/Futures slip ahead of retail sales data.txt @@ -0,0 +1 @@ +The benchmark S&P 500 came under pressure on Tuesday after data showed U.S. consumer prices accelerated in January, boosting expectations that the Fed will raise the policy rate at least twice more this year to the 5%-5.25% range.The consumer price index rose 6.4% last month from a year earlier, far above the Fed's 2% target but a step down from last year's blistering pace.The focus, now, will shift to retail sales data, due at 8:30 a.m. ET, for clues on consumer spending amid worries of slowing economic growth and high inflation.U.S. retail sales are expected to have risen 1.8% in January, as per a Reuters poll, after falling more than anticipated in December.At 7:18 a.m. ET, Dow e-minis were down 36 points, or 0.11%, S&P 500 e-minis were down 6.75 points, or 0.16%, and Nasdaq 100 e-minis were down 19.75 points, or 0.16%.U.S.-listed shares of Taiwan Semiconductor Manufacturing Co (TSMC) fell 5.7% in premarket trading after Warren Buffett's Berkshire Hathaway Inc slashed its stake in the chipmaker.Shares of Airbnb Inc and Tripadvisor Inc jumped more than 9% each after the companies posted forecast-beating results due to strong demand for travel.Kraft Heinz rose 1.3% after the ketchup maker beat quarterly sales estimates, helped by demand for its packaged meals and condiments, despite high prices.Biogen Inc added 1.4% after it beat analysts' estimates for quarterly results on strong demand for its spinal muscular atrophy drug, Spinraza.Nearly 70% of the S&P 500 firms that have reported results so far, have topped profit expectations, as per Refinitiv as of Friday.However, analysts estimate fourth-quarter earnings fell 2.8% from a year earlier. (Reporting by Johann M Cherian in Bengaluru; Editing by Savio D'Souza) \ No newline at end of file diff --git a/news/BIIB/2023.02.15/Marketmind: Interminable anxiety.txt b/news/BIIB/2023.02.15/Marketmind: Interminable anxiety.txt new file mode 100644 index 0000000000000000000000000000000000000000..e41385056a9d2f7542c8b70d37ebc88929122843 --- /dev/null +++ b/news/BIIB/2023.02.15/Marketmind: Interminable anxiety.txt @@ -0,0 +1 @@ +U.S. inflation is not falling fast enough, the Federal Reserve is stamping its foot and the assumed 'terminal' interest rate in this brutal monetary policy tightening cycle is climbing upwards once again.The net impact of Tuesday's sticky U.S. inflation report for January and the red hot employment readout for the same month has been to catapult market pricing of both peak Fed rates and where they'll be at year-end well above 5% and above where even Fed guidance had been late last year.Deutsche Bank, for one, has raised its U.S. terminal rate forecast by half a percentage point to 5.6% since the CPI release, with some market players already mulling the chance that even 6% now comes on the risk radar. And as one of the leading doves on the Fed's policymaking council - Vice Chair Lael Brainard - is set to depart the central bank later this month, her colleagues seem happy for markets to look ever higher for the rates summit."Clearly there are risks that inflation stays higher for longer than expected, or that we might need to raise rates higher" than current forecasts, said New York Fed President John Williams, adding that a year-end rate between 5.0% and 5.50% was "the right kind of framing".The about-turn in rates markets in just two weeks has been extraordinary - with Fed funds futures pricing moving from a terminal rate as low as 4.8% to 5.26% on Wednesday. Year-end pricing has moved above 5% too. Two-year Treasury yields soared to a 3-month high of 4.64% on Tuesday - where current Fed rates sit - and only gave back a fraction of that on Wednesday.The dollar extended gains against Japan's yen and the pound but was restrained against the euro by speculation the European Central Bank faces a similar rethink on inflation and rates that's also pushing up where its peak tightening might be.U.S. stocks held up remarkably well on Tuesday - helped by hopes recession fears are easing even as rate speculation intensifies. But futures and world stocks in general were feeling the heat today.U.S. January industrial production and retail sales data are now the next gauge of what's happening on the ground in the U.S. economy.Sterling slipped as UK inflation fell faster than expected last month, even though the annual inflation rate remains in double digits.Despite many banks benefiting from the higher interest rate environment, Britain's Barclays has proven an outlier and its shares dropped almost 10% on Wednesday after a dire 2022 earnings update.Barclays reported a 14% fall in full-year pre-tax profit as earnings were pole-axed by surging costs, a collapse in deal fees and multi-million dollar fines relating to an administrative blunder.There was better news on the inflation front in energy markets. Oil dropped for a second day on Wednesday, as an industry report pointed to ample supplies in the United States and anticipation of further rate hikes sparked concerns over weaker fuel demand and the economic outlook.Warren Buffett's Berkshire Hathaway, meantime, slashed its stake in Taiwanese contract chipmaker TSMC as well as in some banks in the fourth quarter, while bolstering its holdings in Apple Inc.Berkshire cut its position in Taiwan Semiconductor Manufacturing Co - roughly three months after it said it had bought more than $4.1 billion worth of the stock.Key developments that may provide direction to U.S. markets later on Wednesday:* U.S. Feb NAHB housing index, Empire manufacturing index, Jan retail sales, industrial production, Dec business inventories, Dec TIC Treasury holdings data * European Central Bank President Christine Lagarde speaks in European Parliament* U.S. Treasury auctions 20-year bonds* U.S. corp earnings: Cisco, Analog Devices, Marathon, AIG, Equinix, Kraft Heinz, Biogen, Albemarle, ROBLOX, Zillow, Roku, Rollins, EQT, Synopsys (By Mike Dolan, editing by Emelia Sithole-Matarise; mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/BIIB/2023.02.20/Biogen : to Participate in the Cowen 43rd Annual Health Care Conference.txt b/news/BIIB/2023.02.20/Biogen : to Participate in the Cowen 43rd Annual Health Care Conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..57b7cd541e763751392fdfad23d4a28f371ee30f --- /dev/null +++ b/news/BIIB/2023.02.20/Biogen : to Participate in the Cowen 43rd Annual Health Care Conference.txt @@ -0,0 +1,38 @@ + + + +Cambridge, MA, - - Biogen Inc. (Nasdaq: BIIB) announced today that Christopher A. Viehbacher, President and Chief Executive Officer, will participate in the Cowen 43rd Annual Health Care Conference. The webcast will be live on Monday, March 6, 2023, at 9:50 a.m. ET. To access the live webcast, please visit the Investors section of Biogen's website at investors.biogen.com. An archived version of the webcast will be available following the presentation. + + +About Biogen + Founded in 1978, Biogen is a leading global biotechnology company that has pioneered multiple breakthrough innovations including a broad portfolio of medicines to treat multiple sclerosis, the first approved treatment for spinal muscular atrophy, and two co-developed treatments to address a defining pathology of Alzheimer's disease. Biogen is advancing a pipeline of potential novel therapies across neurology, neuropsychiatry, specialized immunology and rare diseases and remains acutely focused on its purpose of serving humanity through science while advancing a healthier, more sustainable and equitable world. + + + We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media - Twitter, LinkedIn, Facebook, YouTube. + + +Contact: + Karen Jewell + Investor Relations + Biogen + 781.464.2442 + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Biogen Inc. published this content on 20 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 February 2023 21:19:03 UTC. + + diff --git a/news/BIIB/2023.02.22/U.S. Medicare says no change to Alzheimer's drug restrictions.txt b/news/BIIB/2023.02.22/U.S. Medicare says no change to Alzheimer's drug restrictions.txt new file mode 100644 index 0000000000000000000000000000000000000000..c3f2cea1e7badc0ebd9fa7bd98aa8387a0da4ee2 --- /dev/null +++ b/news/BIIB/2023.02.22/U.S. Medicare says no change to Alzheimer's drug restrictions.txt @@ -0,0 +1 @@ +The Centers for Medicare and Medicaid Services (CMS) said it would allow coverage for drugs designed to clear amyloid plaques from the brains of Alzheimer's patients only if a medication is approved under the Food and Drug Administration's standard review process, not under its accelerated review program. The agency said it will also continue to require a registry to collect evidence of patient outcomes to reflect "real-world" care.Two Alzheimer's drugs developed by partners Eisai Co Ltd and Biogen Inc, Leqembi and Aduhelm, have so far only been approved under the FDA's accelerated review program based on evidence of their ability to reduce levels of amyloid brain plaques.Leqembi is currently also undergoing the FDA's standard review process, which will weigh the drug's impact on cognitive function.Because Alzheimer's is an age-related disease, around 85% of people who might use the medicines are covered by Medicare. (Reporting By Deena Beasley; Editing by Sonali Paul) \ No newline at end of file diff --git a/news/BIIB/2023.02.23/U.S. FDA approves Sanofi's bleeding disorder therapy.txt b/news/BIIB/2023.02.23/U.S. FDA approves Sanofi's bleeding disorder therapy.txt new file mode 100644 index 0000000000000000000000000000000000000000..8b6745e10844c36e7f615e17b3cadea0c9e128e6 --- /dev/null +++ b/news/BIIB/2023.02.23/U.S. FDA approves Sanofi's bleeding disorder therapy.txt @@ -0,0 +1,30 @@ +Feb 24 (Reuters) - The U.S. Food and Drug Administration +has approved Sanofi SA's therapy to treat a type of +inherited bleeding disorder known as hemophilia A and expects to +launch it in the United States in April, the French drugmaker +said on Thursday.Sanofi's replacement therapy – Altuviiio – is entering a +market dominated by rivals like Takeda Pharmaceutical, +Bayer AG and Novo Nordisk, which sell +factor replacement therapies that have been the standard +treatment for decades.Factor replacement therapies replace the missing blood +clotting factor so that blood can clot properly by injecting +treatment products into a person's vein.Sanofi's drug is likely to be considered one of the best in +that class, said Damien Conover, Morningstar analyst, ahead of +the approval."We see 2.3 billion euros of peak sales globally," said +Barclays analyst Emily Field.The average annual cost of existing clotting factor +therapies is roughly $300,000, and at least two analysts ahead +of the approval estimated the price of Sanofi's drug to be +slightly at a premium to the traditional factor therapies.Sanofi, which developed the drug along with Swedish +drugmaker Sobi, said it will price Altuviiio at +parity to the annual cost of treating a prophylaxis patient on +Eloctate.The French drugmaker gained access to Elocate and Altuviiio +through a $11.6-billion buyout of U.S. hemophilia specialist +Bioverativ in 2018, which was separated from Biogen Inc.The FDA approval also provides patients an alternative to +Roche's blockbuster drug, Hemlibra, which is the market +leader for this indication."I think that most doctors are thinking that at least in the +first couple of years of the launch Altuviiio would only take +share from the other factor therapies and not from Hemlibra," +said Field.Hemophilia A is a genetic disorder caused by missing or +defective factor VIII, a clotting protein. +(Reporting by Sriparna Roy and Khushi Mandowara in Bengaluru; +Editing by Shinjini Ganguli, Shailesh Kuber and Arun Koyyur) \ No newline at end of file diff --git a/news/BIIB/2023.02.24/U.S. FDA approves Sanofi's bleeding disorder therapy.txt b/news/BIIB/2023.02.24/U.S. FDA approves Sanofi's bleeding disorder therapy.txt new file mode 100644 index 0000000000000000000000000000000000000000..e2cbff71dc77ed988347ac0eee01304733941574 --- /dev/null +++ b/news/BIIB/2023.02.24/U.S. FDA approves Sanofi's bleeding disorder therapy.txt @@ -0,0 +1 @@ +Sanofi's replacement therapy - Altuviiio - is entering a market dominated by rivals like Takeda Pharmaceutical, Bayer AG and Novo Nordisk, which sell factor replacement therapies that have been the standard treatment for decades.Factor replacement therapies replace the missing blood clotting factor so that blood can clot properly by injecting treatment products into a person's vein.Sanofi's drug is likely to be considered one of the best in that class, said Damien Conover, Morningstar analyst, ahead of the approval."We see 2.3 billion euros of peak sales globally," said Barclays analyst Emily Field.The average annual cost of existing clotting factor therapies is roughly $300,000, and at least two analysts ahead of the approval estimated the price of Sanofi's drug to be slightly at a premium to the traditional factor therapies.Sanofi, which developed the drug along with Swedish drugmaker Sobi, said it will price Altuviiio at parity to the annual cost of treating a prophylaxis patient on Eloctate.The French drugmaker gained access to Elocate and Altuviiio through a $11.6-billion buyout of U.S. hemophilia specialist Bioverativ in 2018, which was separated from Biogen Inc.The FDA approval also provides patients an alternative to Roche's blockbuster drug, Hemlibra, which is the market leader for this indication. "I think that most doctors are thinking that at least in the first couple of years of the launch Altuviiio would only take share from the other factor therapies and not from Hemlibra," said Field.Hemophilia A is a genetic disorder caused by missing or defective factor VIII, a clotting protein. (Reporting by Sriparna Roy and Khushi Mandowara in Bengaluru; Editing by Shinjini Ganguli, Shailesh Kuber and Arun Koyyur)By Sriparna Roy and Khushi Mandowara \ No newline at end of file diff --git a/news/BIIB/2023.02.27/Biologics license application for lecanemab designated for priority review by china nat...txt b/news/BIIB/2023.02.27/Biologics license application for lecanemab designated for priority review by china nat...txt new file mode 100644 index 0000000000000000000000000000000000000000..3d1f83b8c92b8436197117c4a45581bc0b299773 --- /dev/null +++ b/news/BIIB/2023.02.27/Biologics license application for lecanemab designated for priority review by china nat...txt @@ -0,0 +1,47 @@ + + +TOKYO and CAMBRIDGE, Mass., Feb. 27, 2023 /PRNewswire/ -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") and Biogen Inc. (Nasdaq: BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, "Biogen") announced today that the Biologics License Application (BLA) for lecanemab (brand name in the U.S.: LEQEMBI™), an investigational anti-amyloid beta (Aβ) protofibril antibody, has been designated for Priority Review by the National Medical Products Administration (NMPA) in China. The Priority Review and Approval Procedure was implemented by the NMPA with the aim of accelerating research, development and launch of new medicines that have significant clinical value. Under this Procedure, the assessment period is expected to be shortened. +In China, Eisai initiated submission of data for the BLA to the NMPA in December 2022. Eisai initially submitted a package that includes data from the Phase II clinical trial (Study 201) and the top-line data of the large global Phase III Clarity AD study in mild cognitive impairment (MCI) due to Alzheimer's disease (AD) and mild AD (collectively known as early AD) with confirmed Aβ accumulation in the brain. Eisai will submit additional data including full data of the Clarity AD study, as directed by the NMPA. +Lecanemab selectively binds and eliminates soluble, toxic Aβ aggregates (protofibrils) that are thought to contribute to the neurotoxicity in AD. As such, lecanemab may have the potential to have an effect on disease pathology and to slow down the progression of the disease. The Clarity AD study of lecanemab met its primary endpoint and all key secondary endpoints with highly statistically significant results. In November 2022, the results of the Clarity AD study were presented at the 2022 Clinical Trials on Alzheimer's Disease (CTAD) conference, and simultaneously published in the New England Journal of Medicine, a peer-reviewed medical journal. +In the U.S., lecanemab was granted accelerated approval by the U.S. Food and Drug Administration (FDA) on January 6, 2023. On the same day, Eisai submitted a supplemental Biologics License Application (sBLA) to the FDA for approval under the traditional pathway. In Europe, Eisai submitted a marketing authorization application (MAA) to the European Medicines Agency (EMA) on January 9, 2023,  which was accepted on January 26, 2023. In Japan, Eisai submitted a marketing authorization application to the Pharmaceuticals and Medical Devices Agency (PMDA) on January 16, 2023, and  Priority Review was designated by the Ministry of Health, Labour and Welfare (MHLW)  on January 26, 2023. +Eisai serves as the lead of lecanemab development and regulatory submissions globally with both Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority. +Contacts +MEDIA CONTACT: +MEDIA CONTACT: +Eisai Co., Ltd. +Biogen Inc. +Public Relations Department +Natacha Gassenbach +TEL: +81-(0)3-3817-5120 ++ 1-857-777-6573 +public.affairs@biogen.com +INVESTOR CONTACT: +INVESTOR CONTACT: +Eisai Co., Ltd. +Biogen Inc. +Investor Relations Department +Mike Hencke +TEL: +81-(0)3-3817-5122 ++ 1-781-464-2442 +IR@biogen.com +[Notes to editors] +1.  About Priority Review and Approval Procedure in ChinaThe Priority Review and Approval Procedure was implemented by the National Medical Products Administration (NMPA) with the aim of accelerating research, development and launch of new medicines that have significant clinical value. Under this Procedure, the assessment period is expected to be shortened. There are six categories of priority review designations as follows and lecanemab was designated as Category 1: 1) Innovative new drugs and new dosage forms for the prevention and treatment of serious infectious diseases and rare diseases for which there is an urgent clinical need. 2) Drugs with additional indications and new dosage forms that are compatible with the physiological characteristics of children. 3) Vaccines and innovative vaccines that are urgently needed to prevent or control disease. 4) Drugs designated as breakthrough therapies. 5) Medicinal products that are reviewed under the conditional approval procedure. 6) Other drugs designated by NMPA for priority review. +2.  About LecanemabLecanemab (Brand Name in the U.S.: LEQEMBI™) is the result of a strategic research alliance between Eisai and BioArctic. Lecanemab is a humanized immunoglobulin gamma 1 (IgG1) monoclonal antibody directed against aggregated soluble (protofibril) and insoluble forms of amyloid-beta (Aβ). In the U.S., LEQEMBI was granted accelerated approval by the U.S. Food and Drug Administration (FDA) on January 6, 2023. LEQEMBI is indicated for the treatment of Alzheimer's disease (AD) in the U.S. Treatment with LEQEMBI should be initiated in patients with mild cognitive impairment or mild dementia stage of disease, the population in which treatment was initiated in clinical trials. There are no safety or effectiveness data on initiating treatment at earlier or later stages of the disease than were studied. This indication is approved under accelerated approval based on reduction in Aβ plaques observed in patients treated with LEQEMBI. Continued approval for this indication may be contingent upon verification of clinical benefit in a confirmatory trial. +Please see full Prescribing Information. +Eisai has completed lecanemab subcutaneous bioavailability study, and subcutaneous dosing is currently being evaluated in the Clarity AD (Study 301) OLE. +Since July 2020 the Phase 3 clinical study (AHEAD 3-45) for individuals with preclinical AD, meaning they are clinically normal and have intermediate or elevated levels of amyloid in their brains, is ongoing. AHEAD 3-45 is conducted as a public-private partnership between the Alzheimer's Clinical Trial Consortium that provides the infrastructure for academic clinical trials in AD and related dementias in the U.S, funded by the National Institute on Aging, part of the National Institutes of Health, Eisai and Biogen. +Since January 2022, the Tau NexGen clinical study for Dominantly Inherited AD (DIAD), that is conducted by Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU), led by Washington University School of Medicine in St. Louis, is ongoing.  +3.  About the Collaboration between Eisai and Biogen for ADEisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority. +4.  About the Collaboration between Eisai and BioArctic for ADSince 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015. +5.  About Eisai Co., Ltd.Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care (hhc) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology. +In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), with working on various activities together with global partners. +For more information about Eisai, please visit www.eisai.com (for global headquarters: Eisai Co., Ltd.), and connect with us on Twitter @Eisai_SDGs. +6.  About BiogenFounded in 1978, Biogen is a leading global biotechnology company that has pioneered multiple breakthrough innovations including a broad portfolio of medicines to treat multiple sclerosis, the first approved treatment for spinal muscular atrophy, and two co-developed treatments to address a defining pathology of Alzheimer's disease. Biogen is advancing a pipeline of potential novel therapies across neurology, neuropsychiatry, specialized immunology and rare diseases and remains acutely focused on its purpose of serving humanity through science while advancing a healthier, more sustainable and equitable world. +The company routinely posts information that may be important to investors on its website at www.biogen.com. Follow Biogen on social media – Twitter, LinkedIn, Facebook, YouTube. +Biogen Safe HarborThis news release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about the potential clinical effects of lecanemab; the potential benefits, safety and efficacy of lecanemab; potential regulatory discussions, submissions and approvals and the timing thereof; the treatment of Alzheimer's disease; the anticipated benefits and potential of Biogen's collaboration arrangements with Eisai; the potential of Biogen's commercial business and pipeline programs, including lecanemab; and risks and uncertainties associated with drug development and commercialization. These statements may be identified by words such as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "possible," "potential," "will," "would" and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical studies may not be indicative of full results or results from later stage or larger scale clinical studies and do not ensure regulatory approval. You should not place undue reliance on these statements or the scientific data presented. +These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including without limitation unexpected concerns that may arise from additional data, analysis or results obtained during clinical studies, including the Clarity AD clinical trial and AHEAD 3-45 study; the occurrence of adverse safety events; risks of unexpected costs or delays; the risk of other unexpected hurdles; regulatory submissions may take longer or be more difficult to complete than expected; regulatory authorities may require additional information or further studies, or may fail or refuse to approve or may delay approval of Biogen's drug candidates, including lecanemab; actual timing and content of submissions to and decisions made by the regulatory authorities regarding lecanemab; uncertainty of success in the development and potential commercialization of lecanemab; failure to protect and enforce Biogen's data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; product liability claims; third party collaboration risks; and the direct and indirect impacts of the ongoing COVID-19 pandemic on Biogen's business, results of operations and financial condition. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Biogen's expectations in any forward-looking statement. Investors should consider this cautionary statement as well as the risk factors identified in Biogen's most recent annual or quarterly report and in other reports Biogen has filed with the U.S. Securities and Exchange Commission. These statements are based on Biogen's current beliefs and expectations and speak only as of the date of this news release. Biogen does not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise. +  + View original content:https://www.prnewswire.com/news-releases/biologics-license-application-for-lecanemab-designated-for-priority-review-by-china-national-medical-products-administration-301756928.html +SOURCE Eisai Inc. + + diff --git a/news/BIIB/2023.03.01/February ends with uncertainty.txt b/news/BIIB/2023.03.01/February ends with uncertainty.txt new file mode 100644 index 0000000000000000000000000000000000000000..526d08fd35ad9158098694016888ef3960b20012 --- /dev/null +++ b/news/BIIB/2023.03.01/February ends with uncertainty.txt @@ -0,0 +1,40 @@ + +After last week’s big selloff on renewed rate hike fears, investors looked for bargains yesterday and it seems like today might be the same, with the main three Wall Street indices slightly up in pre-market trading. +After Friday’s stronger-than-expected PCE data, investors have started to consider the possibility of a 50 bps rate hike in March, instead of 25, with the odds at about 25%, according to the CME FedWatch tool.  Fed fund futures sees rates peaking at 5.4% by September, up from 4.57% now. + +BofA Global Research even believes the Fed may hike interest rates to nearly 6%: "Aggregate demand needs to weaken significantly for inflation to return to the Fed's target. Further supply-chain normalization and a slowdown in the labor market will help, but only to a degree," said BofA in a note. "Moreover, these processes are taking longer than we and markets were expecting." +Yesterday, the session started well but ended lower. The Nasdaq 100 still held on to 0.7% gains, but the S&P500 and the Dow Jones were limited to 0.2 / 0.3%. This did not prevent Elon Musk from regaining his place as the richest man in the world in the Bloomberg ranking of billionaires. He is credited with $187 billion compared to $185 billion for LVMH head Bernard Arnault. The ranking changes with the rise and fall of LVMH and Tesla, as the competition is left behind: that big loser Jeff Bezos only reaches $117 billion. But enough of the billionaire's ramblings. Wall Street has had a little trouble keeping up, even if the appetite for risky assets has recovered a little. In Europe, the good behavior of indices was also favored by the announcement of a Northern Ireland trading deal between the EU and the UK. +Behind the rise in equity markets, the backdrop has not changed much. U.S. bond yields are still being stretched by uncertainty about the path of rates. All in all, the two statistics released yesterday did not do much to advance the debate. Housing data was surprisingly strong, while the durable goods orders numbers faltered. Experts are still struggling to quantify the impact of the "January effect" on these data. Investors will be closely looking at the Conference Board's U.S. Consumer Confidence Index, released at 10:00 am ET today. There will also be real estate prices and activity indexes. +  +Economic highlights of the day: +France and Spain’s February inflation figures, wholesale inventories, the FHFA house price index, the Chicago PMI,  the Conference Board's consumer confidence index and the Richmond Fed's index are today’s main events. All the agenda is here. This morning, Japan reported a sharper than expected contraction in industrial production of -4.6% in January. +The dollar is flat against the euro at EUR 0.9419 and down 0.4% against the pound at GBP 0.8255. The ounce of gold is down slightly to 1809 dollars. Oil remains firm, with North Sea Brent at USD 83.73 per barrel and U.S. WTI light crude at USD 77.60. The yield on 10-year US debt loses a point to 3.93%. Bitcoin is trading around 23,400 dollars. +  +In corporate news: +* Chevron on Tuesday raised its share buyback target to between $10 billion and $20 billion a year and confirmed its production forecast, up more than 3% a year by 2027. The oil giant was up 1.3% in pre-market trading. +* Target gained more than 2% in premarket trading after posting unexpected sales growth in the last three months of 2022, with the retailer pointing to the effect of promotions in its North American stores. +* Zoom Video was up 6.6% in pre-market trading after it reported a better-than-expected annual profit forecast thanks in part to cost reductions. +* Tesla - Elon Musk, the CEO of Tesla and Twitter, has contacted artificial intelligence researchers in recent weeks to develop an alternative to OpenAI's chatbot ChatGPT, The Information reported Monday, citing sources with direct knowledge of the matter. +* Apple - The U.S. company's Indian supplier, Foxlink, will be unable to fully resume operations for two months following a major fire, raising concerns about supplies to the iPhone maker, a source with direct knowledge of the matter told Reuters on Tuesday. +* Boeing said on Tuesday that its MQ-28 drone, developed in collaboration with the Royal Australian Air Force, could meet the U.S. Air Force's collaborative combat aircraft (CCA) requirements and is designed to fit into a fleet of manned fighter jets, which could include the Lockheed Martin F-35. +* Merck & Co announced the termination of a late-stage clinical trial evaluating a therapy involving its immuno-oncology drug Keytruda after interim data showed that the study's primary endpoints were unlikely to be met. +* Biogen - The U.S. biotech company and its Japanese partner Eisai announced Tuesday that Chinese authorities had granted priority review status to their Alzheimer's disease treatment Lecanemab. +* Goldman Sachs - Chief Executive David Solomon is expected to unveil the U.S. investment bank's medium-term financial targets at an investor day on Tuesday, analysts said. +* Robinhood Markets announced Monday that it has received a subpoena in December from the Securities and Exchange Commission (SEC), the U.S. securities regulator, regarding trading in cryptocurrencies. +* Oaktree Capital plans to raise $10 billion for a new fund to finance major acquisitions in private equity, the Financial Times reported Tuesday, citing a letter to clients of the U.S. asset manager. +  +Analyst recommendations: + +Anywhere Real Estate: Keefe, Bruyette & Woods downgrades to market perform from outperform. PT up 18% to $7. +Axcelis Technologies: Loop Capital Markets initiated coverage with a recommendation of buy. PT set to $150. +Eli Lilly: Societe Generale downgrades to sell from hold. PT down 12% to $278. +Glencore: JPMorgan lowered its price target to 6.30 pounds sterling from 6.40 pounds and kept its overweight rating. +Mondi: J.P. Morgan downgrades from Overweight to Neutral targeting GBp 1606. +Pioneer Natural: Tudor Pickering & Co upgrades to buy from hold. PT up 24% to $243. +Prudential: Credit Suisse increased the price target to 15.40 pounds sterling from 14.50 pounds, with an unchanged outperform rating. +Shell: RBC reduced the price target to 29.00 pounds sterling from 32.00 pounds and maintained its outperform rating. + +  +  +  +  diff --git a/news/BKNG/2023.01.09/CEO of Booking.com parent talks about travel, leadership.txt b/news/BKNG/2023.01.09/CEO of Booking.com parent talks about travel, leadership.txt new file mode 100644 index 0000000000000000000000000000000000000000..381f5b3e3f493ead7e49123a59730fbe8dde06ca --- /dev/null +++ b/news/BKNG/2023.01.09/CEO of Booking.com parent talks about travel, leadership.txt @@ -0,0 +1 @@ +The travel recovery has boosted Booking Holdings Inc. to record quarterly earnings, and Wall Street expects the company to post even bigger profits this year.The company, which operates its namesake website, Booking.com, plus Priceline, Kayak and other travel and dining sites, has earned $1.8 billion through the first three quarters of 2022. Customer bookings are running more than one-third ahead of the year-ago pace.The stock, while finishing down 16% in 2022, is holding up much better than shares of rival online travel agencies.CEO Glenn Fogel spoke recently to The Associated Press about whether the rebound in travel is sustainable, uncertainty about the economy, and his management style. The answers have been edited for length and clarity.Q. You had a record third-quarter profit, and analysts expect a good fourth quarter. What's the outlook for the new year?A. Gross bookings for the first quarter are up 25% over 2019. So that was a very positive sign. It’s always a very early indicator, and things can change, there can be cancellations — certainly we’ve seen that over the last few years. But we are encouraged by what we see so far.Q. Airline and hotel prices are up sharply. How long can consumers pay those prices?A. The prices are very high. Those prices would not be so high if there wasn’t demand -- simple supply and demand. One hypothesis is people have built up large savings during the last few years because of the different government programs and the fact that people were locked down in their homes. So people built up savings, and now they want to spend them.Q. But aren’t they going to exhaust those savings, and will that be soon?A. Well, that is the question. At what point do we get back to, say, a 2019 world in which people had a lower amount of savings and a higher level of debt? And do people start correcting there or not? One thing that nobody knows is what’s going to happen with our economies going forward, the U.S. economy in particular. Right now things are good. Right now we’re feeling hopeful.Q. How is working from home changing travel demand?A. If people are under a flexible work schedule -- meaning they only have to show up at a set location some of the time ... they are working from another location that they will also combine with a vacation. You see that in the increased amount of travel on Thursdays and Fridays. Not sure how the companies are keeping track of how much work is actually being done on Friday afternoon.Q. Booking Holdings has a lot of exposure to Europe. Do you need to grow in the U.S.?A. We do believe it’s important for us to continue to build our share in the U.S. One of my jobs to make sure that we make ourselves as aware to the U.S. traveler who wants to find a home in the U.S. as any other part of the world. Our room-night growth rate in the U.S. for the third quarter was up approximately 30% versus 2019. That’s a huge jump, and we definitely are gaining share and I hope we will continue to do so.Q. Airbnb is ratcheting up its search for people to list their homes. Are you doing the same thing?A. Some time ago, people who owned a home would perhaps go to a platform and list it themselves. (Now) there are intermediaries. These are people, professional managers, who will take care of the listing for the property owner, handle all the issues. We’re going to large property managers who have a significant amount of inventory, and that enables us to have more selection, more different places that people can stay on our platform.Q. What new products do you have?A. One that I do think it’s important is the area of sustainability, our Travel Sustainable Badge program. (Properties are rated in tiers.) Some of the stuff is obvious like changing your incandescent lights to LED lights, but there a lot of other things in terms of water, all sorts of things.Q. But do consumers book based on sustainability ratings?A. Price is always the first thing on someone’s mind, but that doesn’t mean they don’t care about sustainability.Q. How big a problem are fake reviews, and how does that affect the company?A. We already do a very good job making sure that what’s put on is an opinion of someone that at least has actually experienced whatever they’re commenting on. One cannot put a comment or a review on a hotel unless they’ve actually stayed at a hotel on our platform. If we see an interesting change in someone’s review score, our machine learning will immediately say, ‘Hmm, this is an anomaly. We should look into this.’Q. Has your management style changed in the time you’ve been CEO?A. As you age, you recognize how important it is to reserve judgment and wait, think before making decisions — that it’s important to let things settle. When I was much younger, I had a higher-percentage chance that I think I knew the right answer right away.Q. You're 60. How long do you plan to stay, and what's the succession plan?A. (Laughs) That’s something that I discuss with my board of directors. It’s always important for all companies to keep in mind that nobody is ever in a job forever. I will say I love this job, I love what we’re doing.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/BKNG/2023.01.25/Booking.com Unveils the Traveller Review Awards 2023 Recipients and This Year's Most We...txt b/news/BKNG/2023.01.25/Booking.com Unveils the Traveller Review Awards 2023 Recipients and This Year's Most We...txt new file mode 100644 index 0000000000000000000000000000000000000000..fc5b8582bde1fdb9fba0c65db2c26d84526bd69c --- /dev/null +++ b/news/BKNG/2023.01.25/Booking.com Unveils the Traveller Review Awards 2023 Recipients and This Year's Most We...txt @@ -0,0 +1 @@ +Booking.com Unveils the Traveller Review Awards 2023 Recipients and This Year's Most Welcoming Places on Earth.Highlights:* A record 1.36 million travel providers are being recognized for their hospitality with a Traveller Review Award 2023* For the sixth year in a row, apartments (629,421) are the most-awarded accommodation type globally, with more than three times as many awards as holidays homes (177,795), coming in second, or hotels (172,036) in third* Nearly one in ten accommodation award recipients globally have also been recognized with a Travel Sustainable badge for their efforts to operate more sustainably* Polignano a Mare in Italy makes its debut at the very top of this year's Most Welcoming Cities on Earth, with La Rioja in Spain also a newcomer as 2023's Most Welcoming Region on EarthAMSTERDAM - As travel continues to make its return in most parts of the world, the eleventh annual Booking.com Traveller Review Awards recognize travel providers from across 220 countries and territories for their commitment to providing consistently excellent service and hospitality over the course of the year. Based on a pool of over 240 million verified customer reviews on Booking.com, 1,364,415 accommodation partners, 230 car rental providers and 58 airport taxi suppliers are receiving a Traveller Review Award 2023. Italy leads the way again in 2023 with a total of 170,638 accommodation awards, followed by Spain (108,217), France (103,365), Germany (76,479), Croatia (64,206), Poland (60,721), UK (60,697), Greece (54,473), Brazil (53,658) and the US (46,839).Apartments and homes continue to shineAs the most-awarded property type globally, apartments take the top spot for the sixth year in a row, with a grand total of 629,421 partners being recognized for their efforts in the 2023 edition of the Traveller Review Awards. For the very first time in the history of the awards, holiday homes (177,795) have claimed the second spot from hotels (172,036), with guest houses (91,635) and bed and breakfasts (78,247) rounding out the top five. When it comes to the countries being recognized with the most awards for homes, apartments and other unique places to stay, Italy (153,895), Spain (98,788), France (94,285), Germany (64,748) and Croatia (63,219) lead the way.A more sustainable traveler experienceNearly one in ten accommodation award recipients globally (122,095) have also been recognized with a Travel Sustainable badge for their efforts to operate more sustainably. In fact, Travel Sustainable accommodations were three times more likely to receive a Traveller Review Award 2023, compared to those not being recognized with a Travel Sustainable badge. Out of all accommodation types, hotels had the highest share of Travel Sustainable accommodations (15%) receiving a Traveller Review Award 2023.Helping travelers get from A to BThis is the fourth year that Booking.com is recognising in-trip transport providers for their consistently great service, with 230 car rental companies from across 150 countries picking up a Traveller Review Award 2023. Car rental companies in Spain are being recognized with the most 2023 awards (23), followed by Greece (21), France (14), Italy (13) and Portugal (11). In addition, 58 airport taxi providers, representing a total of 6,131 drivers from across 120 countries are also being recognized with a 2023 award. Companies in Spain are again receiving the most awards (11 providers representing 442 drivers), followed by Greece (7 providers representing 1,196 drivers), Italy (5 providers representing 315 drivers), Poland (3 providers representing 524 drivers) and Portugal (3 providers representing 655 drivers).It's that personal attention to detail when checking in or sharing helpful recommendations to explore the destination like a local that demonstrates how our partners show up and shine for travelers in a multitude of ways each and every day. These awards are our way of thanking them for their dedication to making everyone feel welcome and to going out of their way to create incredible experiences for our customers. Whether it's a friendly greeting from a taxi driver at the airport, sharing some local driving tips at the car rental counter or a thoughtful note waiting in the room, our passionate partners help make every trip more special.Arjan Dijk, SVP and Chief Marketing Officer for Booking.com2023's Most Welcoming Places on EarthThis year's Most Welcoming Places on Earth span five continents and feature hidden coastal gems, rural destinations surrounded by breathtaking natural beauty and even a bustling Latin American metropolis. They have all been identified based on the share of accommodation partners receiving a Traveller Review Award 2023* and provide even the most seasoned traveler with bucket list inspiration for their future trips.2023's Most Welcoming Cities On EarthPolignano a Mare, ItalyHualien City, TaiwanSan Sebastian, SpainDresden, GermanyKlaipeda, LithuaniaYork, UKUshuaia, ArgentinaPorto De Galinhas, BrazilMexico City, MexicoGold Coast, AustraliaFor more about exploring and experiencing all these welcoming cities have to offer, check out this destination guide.2023's Most Welcoming Regions On Earth*La Rioja, SpainEpirus, GreeceOberosterreich, AustriaCounty Down, UKMures, RomaniaMarlborough, New ZealandNinh Binh, VietnamLimon, Costa RicaNewfoundland & Labrador, CanadaNorth Dakota, USTo be recognized with an award, accommodation partners had to have an average review score of 8.0 (out of 10) or higher based on at least 3 reviews, as of 11:59pm (CET) on November 30, 2022. Car rental partners had to have an average review score of 8.5 (out of 10) or higher based on at least 20 reviews, as of 11:59pm (CET) on November 30, 2022. To be recognized with an award, taxi providers had to have an average review score of 4.5 (out of 5) or higher and completed 5,000 rides as of 11:59pm (CET) on November 30, 2022.Only customers that have actually stayed at an accommodation, rented a car or rode in a taxi can leave a review of their experience on Booking.com. As these reviews are never edited or adjusted in any way, travelers can reference them for an authentic account of what the real traveler experience is like at every place to stay or with every ground transport provider on Booking.com.*Destinations were sorted by the total share of Traveller Review Award 2023 recipients when compared to the total amount of eligible properties in that city or region (accommodation only). Destinations also had to have an above-average amount of winners to be included on this list (500 award recipients or higher for cities and 500 recipients or higher for regions) and were curated for geographic spread.About Booking.comPart of Booking Holdings Inc. (NASDAQ: BKNG), Booking.com's mission is to make it easier for everyone to experience the world. By investing in the technology that helps take the friction out of travel, Booking.com seamlessly connects millions of travellers with memorable experiences, a range of transportation options and incredible places to stay - from homes to hotels and much more. As one of the world's largest travel marketplaces for both established brands and entrepreneurs of all sizes, Booking.com enables properties all over the world to reach a global audience and grow their businesses. Booking.com is available in 44 languages and offers more than 28 million total reported accommodation listings, including more than 6.6 million listings of homes, apartments and other unique places to stay. No matter where you want to go or what you want to do, Booking.com makes it easy and backs it all up with 24/7 customer support.Follow us on TikTok, Instagram and Twitter, like us on Facebook, and for the latest news, data and insights, please visit our global media room.Press Office Booking.com+31 20 709 4743(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/BKNG/2023.01.31/Booking Holdings to Webcast Fourth Quarter and Full Year 2022 Financial Results on Febr...txt b/news/BKNG/2023.01.31/Booking Holdings to Webcast Fourth Quarter and Full Year 2022 Financial Results on Febr...txt new file mode 100644 index 0000000000000000000000000000000000000000..a9b306342d2c775390a5dc5842422a0990321284 --- /dev/null +++ b/news/BKNG/2023.01.31/Booking Holdings to Webcast Fourth Quarter and Full Year 2022 Financial Results on Febr...txt @@ -0,0 +1,21 @@ + + +NORWALK, Conn., Jan. 31, 2023 /PRNewswire/ -- Booking Holdings (NASDAQ: BKNG) announced today that it intends to hold a conference call to discuss its fourth quarter and full year 2022 financial results on Thursday, February 23 at 4:30 p.m. ET. The event will be webcasted at ir.bookingholdings.com and the audio will be available for replay on the website for seven days thereafter. + + + + + + + +Booking Holdings will post a release containing its fourth quarter and full year 2022 financial results on the company's Investor Relations website, ir.bookingholdings.com, at approximately 4:00 p.m. ET on Thursday, February 23. +Source: Booking Holdings#BKNG_Earnings +About Booking Holdings +Booking Holdings (NASDAQ: BKNG) is the world's leading provider of online travel and related services, provided to consumers and local partners in more than 220 countries and territories through six primary consumer-facing brands: Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK and OpenTable. The mission of Booking Holdings is to make it easier for everyone to experience the world. For more information, visit BookingHoldings.com and follow us on Twitter @BookingHoldings. +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/booking-holdings-to-webcast-fourth-quarter-and-full-year-2022-financial-results-on-february-23-301734537.html +SOURCE Booking Holdings + + diff --git a/news/BKNG/2023.02.06/New booking.com ad campaign with actress & producer melissa mccarthy aims to inspire tr...txt b/news/BKNG/2023.02.06/New booking.com ad campaign with actress & producer melissa mccarthy aims to inspire tr...txt new file mode 100644 index 0000000000000000000000000000000000000000..b33f2bbbb4541c9176c0869a809e6db60f661e91 --- /dev/null +++ b/news/BKNG/2023.02.06/New booking.com ad campaign with actress & producer melissa mccarthy aims to inspire tr...txt @@ -0,0 +1,13 @@ +Airing live for the first time during the "big game" on February 12, Booking.com will give away half a million dollars in travel credits with 50 lucky winners receiving $10,000 eachNEW YORK, Feb. 6, 2023 /CNW/ -- Booking.com, the leading digital travel app with a mission to make it easier for everyone to experience the world, is launching a new ad campaign to show that booking a trip is half the fun. Starring Emmy Award winning, Academy Award and Golden Globe nominated American actress and producer, Melissa McCarthy, this continuation of the beloved Booking.yeah campaign will debut live during the upcoming "big game" on February 12, during which Booking.com will once again be giving away half a million dollars in vacations. A sneak peak of the ad can be found on YouTube.com/Bookingcom. + + + +With 73%* of U.S. travelers saying they enjoyed the experience of booking their last trip, as well as 73%** of Americans reporting that travel will always be worth it and that they are overwhelmingly optimistic about traveling this year, Booking.com is here to help travelers find and book "Somewhere, Anywhere," the mantra of the brand's new ad campaign with Melissa McCarthy. The comedic spots, which include cameos by Melissa's husband, American actor, comedian and filmmaker Ben Falcone, focus on how Booking.com makes booking a trip easy, reliable and fun, with the widest choice of places to stay. The brand aims for all travelers to truly have the "Booking.yeah" feeling - from the minute they start exploring the array of amazing hotels, homes and unique properties on the site, to hitting the "book" button and then excitedly anticipating their journey ahead, and of course, enjoying the trip itself."The joy and excitement we get from traveling and exploring the world, or even taking a short trip close to home, gives us such wonderful memories. Every time my family travels, we come back as a little bit better versions of ourselves and we're immediately inspired to start daydreaming about our next trip. I'm tickled pink to be working with Booking.com as their #1 Travel Fan," said Melissa McCarthy. "The fun of travel starts with a world of possibilities, so I hope the ad gives everybody the inspiration to book their next trip with Booking.com and bring their travel dreams to life. Of course, all of this is to be done while singing "Somewhere, Anywhere."To kick off the campaign, Booking.com will give away half a million dollars in vacation funds - 50 winners will receive $10,000 each in travel credits - to explore the amazing "Somewhere, Anywhere" destinations across the U.S. and the world. Just follow @bookingcom on Instagram or TikTok and leave a comment on any Booking.com giveaway post noting the "Somewhere, Anywhere" you want to go using #ShareYourAnywhere along with #Sweepstakes to be entered for a chance to win $10,000 in travel credits to use on Booking.com. The entry period for the giveaway begins on February 7, 2023 at 12:00pm EST, and ends February 19 at 11:59pm EST, with winners chosen at random. For more information on how to enter, visit Booking.com's social channels (Instagram.com/bookingcom, Tiktok.com/bookingcom) and for the Official Rules, visit www.promoterms.com/shareyouranywhere.With creative developed by Zulu Alpha Kilo and Mindshare managing the media strategy and planning, the integrated campaign will run across TV - including prime time - audio streaming, online and social channels, through the end of April with a second rollout in the summer. The campaign includes a mix of :30 and :15 second commercials, including the "big game" spot - "Melissa McCarthy in 'Somewhere, Anywhere'" - as well as "Vacay in the USA," "Perfect Vacation Rental," "Room Service," and "Double Booked." All of the ads, including a teaser video released earlier this month, as well as a soon-to-be-released extended two minute version of "Melissa McCarthy in Somewhere, Anywhere" (Full Musical) can be viewed on YouTube.com/Bookingcom."Booking.com is committed to helping American travelers find and book the perfect trip by offering the widest choice of places to stay - from hotels to homes - as well as a highly intuitive app - the #1 most downloaded online travel app in the U.S. last year*** - making the booking process easy and fun," says Arjan Dijk, Senior Vice President and Chief Marketing Officer at Booking.com. "This year's Booking.yeah campaign aims to showcase that Booking.com is the most reliable platform to book a trip, no matter where travelers want to go, with features including instantly bookable vacation rentals, free cancellation on most bookings, verified reviews, great deals and more. The incomparably talented Melissa McCarthy truly helped bring the creative to life with the message that we hope will resonate with Americans - the best way to book your stay in the U.S. is through Booking.com - and we couldn't think of a better time to kick off the campaign than the 'big game.'"For travelers looking for some inspiration on where to travel this year across the U.S., Booking.com's 2023 list of 10 top trending global destinations features Santa Fe, New Mexico,**** while other U.S. top trending destinations for 2023 include Anaheim, Honolulu, Seattle, San Francisco, Boston, Nashville, Louisville and more. Travelers have access to the widest choice of places to stay on Booking.com - from sleek city hotels and beach houses, to cabins and treehouses, to apartments, tiny homes and more. Research conducted by Booking.com also shows that while Americans will continue to prioritize and invest in travel in 2023 (57%),** they will also be more mindful on how to make the most of their travel budget, with 70%** of travelers seeking more bang for their buck.Travelers can have peace of mind when they book "Somewhere, Anywhere" on Booking.com, with access to great places to stay across the U.S. and the globe, free cancellation on most bookings, verified reviews and great deals. For more information on travel offerings, including Early 2023 Deals with discounts starting at 15%, visit Booking.com or download the Booking.com app.SOURCES /  METHODOLOGY:*Zulu Alpha Kilo Bookers Study conducted for Booking.com. 547 U.S. primary household travel bookers 18–54 were asked to rate the experience of booking their last vacation on a spectrum from "stressful" to "enjoyable." Respondents completed an online survey in August 2022.**Travel Predictions 2023 research commissioned by Booking.com and conducted among a sample of adults who plan to travel for business or leisure in the next 12-24 months. In total 24,179 respondents across 32 countries and territories were polled (including 1014 from Argentina, 1006 from Australia, 505 from Austria, 504 from Belgium, 1009 from Brazil, 503 from Canada, 1009 from China, 1010 from Colombia, 505 from Croatia, 505 from Denmark, 1010 from France, 1001 from Germany, 500 from Hong Kong, 1005 from India, 504 from Ireland, 504 from Israel, 1008 from Italy, 1003 from Japan, 504 from Mexico, 502 from The Netherlands, 1007 from New Zealand, 1009 from Portugal, 507 from Singapore, 1008 from South Korea, 1001 from Spain, 505 from Sweden, 508 from Switzerland, 500 from Taiwan, 504 from Thailand, 1006 from the UK, 1009 from the US and 504 from Vietnam). Respondents completed an online survey in August 2022.***Apptopia, Worldwide and US Download Leaders 2022 - Booking.com included as the top downloaded OTA app in the U.S.****Destinations had to be in the top 1,000 most booked on Booking.com between 1 August 2021 and 31 July 2022. The resulting list was sorted by year-over-year increase and destinations with a large decrease in the share of domestic bookings were removed. This was to ensure that the list represents destinations that have managed to maintain domestic interest (as well as international), even in the face of loosening COVID-related travel restrictions.About Booking.com: Part of Booking Holdings Inc. (NASDAQ: BKNG), Booking.com's mission is to make it easier for everyone to experience the world. By investing in the technology that helps take the friction out of travel, Booking.com's marketplace seamlessly connects millions of travelers with memorable experiences every day. For more information, follow @bookingcom on social media or visit globalnews.booking.com.Photo - https://mma.prnewswire.com/media/1996485/Melissa_Teaser.jpgPhoto - https://mma.prnewswire.com/media/1996486/Melissa_Balcony.jpgPhoto - https://mma.prnewswire.com/media/1996487/VILLA_POOL.jpg + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/new-bookingcom-ad-campaign-with-actress--producer-melissa-mccarthy-aims-to-inspire-travelers-to-book-somewhere-anywhere-301739471.htmlSOURCE Booking.com© Canada Newswire, source Canada Newswire English \ No newline at end of file diff --git a/news/BKNG/2023.02.22/Booking Holdings to Make Fourth Quarter and Full Year 2022 Earnings Press Release Avail...txt b/news/BKNG/2023.02.22/Booking Holdings to Make Fourth Quarter and Full Year 2022 Earnings Press Release Avail...txt new file mode 100644 index 0000000000000000000000000000000000000000..432986a3336afde8305a8caba64c816baa2486ca --- /dev/null +++ b/news/BKNG/2023.02.22/Booking Holdings to Make Fourth Quarter and Full Year 2022 Earnings Press Release Avail...txt @@ -0,0 +1,19 @@ + + +NORWALK, Conn., Feb. 22, 2023 /PRNewswire/ -- Fourth quarter and full year 2022 financial results for Booking Holdings (NASDAQ: BKNG) will be made available at approximately 4:00 p.m. ET on February 23 through a press release posted to the company's Investor Relations website: http://ir.bookingholdings.com. + + + + + + + +Booking Holdings intends to hold a conference call on February 23 at 4:30 p.m. ET to discuss its fourth quarter and full year 2022 financial results. The event will be webcasted at http://ir.bookingholdings.com. Audio replays will be available on the website for seven days thereafter. +Source: Booking Holdings#BKNG_Earnings +About Booking HoldingsBooking Holdings (NASDAQ: BKNG) is the world's leading provider of online travel and related services, provided to consumers and local partners in more than 220 countries and territories through six primary consumer-facing brands: Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK and OpenTable. The mission of Booking Holdings is to make it easier for everyone to experience the world. For more information, visit BookingHoldings.com and follow us on Twitter @BookingHoldings. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/booking-holdings-to-make-fourth-quarter-and-full-year-2022-earnings-press-release-available-on-companys-investor-relations-website-on-february-23-301752194.html +SOURCE Booking Holdings + + diff --git a/news/BKNG/2023.02.23/Booking : 1999 OMNIBUS PLAN FORM OF PERFORMANCE SHARE UNIT AGREEMENT - Form 8-K.txt b/news/BKNG/2023.02.23/Booking : 1999 OMNIBUS PLAN FORM OF PERFORMANCE SHARE UNIT AGREEMENT - Form 8-K.txt new file mode 100644 index 0000000000000000000000000000000000000000..09a3176138584ebd26dfcb09bb75ab13cd600331 --- /dev/null +++ b/news/BKNG/2023.02.23/Booking : 1999 OMNIBUS PLAN FORM OF PERFORMANCE SHARE UNIT AGREEMENT - Form 8-K.txt @@ -0,0 +1,435 @@ + + + BOOKING HOLDINGS INC. 1999 OMNIBUS PLAN + + + FORM OF PERFORMANCE SHARE UNIT AGREEMENT + + + THIS PERFORMANCE SHARE UNIT AGREEMENT (this "Agreement") is made by and between Booking Holdings Inc., a Delaware corporation, with its principal United States office at 800 Connecticut Avenue, Norwalk, Connecticut 06854 (the "Company"), and the Participant, as of the Grant Date in ____, which is provided, along with additional grant details, on the web portal of the secure third-party vendor website (the "Web Portal") used by the Company (such information to be referred to herein as the "Grant Summary") for the administration of the Booking Holdings Inc. 1999 Omnibus Plan, as amended from time to time (the "Plan"). Pursuant to the terms of the Plan, the Compensation Committee of the Board (the "Committee") has authorized this Agreement and approved the grant of Performance Share Units evidenced by this Agreement. + + + Unless otherwise indicated, any capitalized term used herein, but not defined herein, shall have the meaning ascribed to such term in the Plan. + + + 1.Definitions + + + (a)"Cause" shall mean (i) the willful and continued failure by the Participant substantially to perform his or her duties and obligations to the Company (other than any such failure resulting from his or her incapacity due to physical or mental illness); (ii) the willful engaging by the Participant in misconduct which is materially injurious to the Company; (iii) the commission by the Participant of a felony; (iv) the willful and material violation by the Participant of any Company code of conduct; (v) the commission by the Participant of a crime against the Company which is materially injurious to the Company; (vi) a material breach by the Participant of any non-competition, non-solicitation, or other restrictive covenant that the Participant has entered into with the Company or a Subsidiary; or (vii) the willful and material breach by the Participant of any confidentiality agreement that the Participant has entered into with the Company or a Subsidiary. For purposes of this Section 1(a), no act, or failure to act, on a Participant's part shall be considered "willful" unless done, or omitted to be done, by the Participant not in good faith and without reasonable belief that his or her action or omission was in the best interest of the Company. Determination of Cause shall be made by the Committee (or its delegate) in its sole discretion. + + + (b)"Company" shall mean Booking Holdings Inc. and any of its Subsidiaries and Affiliates. + + + (c)"Continuous Service" shall mean the Participant's service with the Company or any Subsidiary or Affiliate, whether as an employee, director or consultant, which is not interrupted or terminated. + + + (d)"Determination Date" shall mean __________. + + + (e)"Disability" shall mean that (i) the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than __________ months or (ii) the Participant is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than __________ months, receiving income replacement benefits for a period of not less than __________ months under an accident and health plan covering employees of the Company. + + + + + + + + + (f)"Form 10-Q Filing Date" shall mean the date the Company files its quarterly report on Form 10-Q with the SEC for the quarter ending on __________. + + + (g)"Good Reason" shall mean (i) a material diminution in the Participant's authority, duties, title, reporting structure or responsibilities, (ii) relocation of the Participant's principal office to a location more than __________ miles from its current location or more than __________ miles further from the Participant's residence at the time of relocation (provided the Participant is required by the Company to work regularly from such principal office location), or (iii) any material breach by the Company of an employment agreement, if any, that is in effect at any time between the Participant and the Company. + + + Before a termination by the Participant will constitute termination for Good Reason, the Participant must give the Company a Notice of Good Reason within __________ calendar days following the occurrence of the event that constitutes Good Reason. Failure to provide such Notice of Good Reason within such __________ period shall be conclusive proof that the Participant shall not have Good Reason to terminate employment by reason of such occurrence. + + + Good Reason shall exist only if (A) the Company fails to remedy the event or events constituting Good Reason within __________ calendar days after receipt of the Notice of Good Reason from the Participant and (B) the Participant terminates his or her employment within __________ days after the end of the period set forth in clause (A) above. + + + (h)"Notice of Good Reason" shall mean a written notice by the Participant to the Company which sets forth in reasonable detail the specific reason for a termination of employment for Good Reason and the facts and circumstances claimed to provide a basis for such termination and is provided to the Company in accordance with the terms set forth in Section 1(g) hereof. + + + (i)"Performance Period" shall mean the three-year period commencing on __________ and ending on __________. + + + (j) "SEC" shall mean the U.S. Securities and Exchange Commission. + + + (k)"Stock" shall mean shares of common stock, par value $0.008, of the Company. + + + (l)"Target Amount" shall have the meaning given such term under Section 2. + + + (m)"Vesting Factor" shall mean the factor determined in accordance with . + + + (n)"Vesting Period" shall mean the period from (and excluding) __________ to (and including) __________. + + + 2.The Grant + + + Subject to the terms and conditions set forth herein, the Participant has been granted on the Grant Date in ____ the number of Performance Share Units as indicated on the Grant Summary for the corresponding Grant Date in ____ (the "Target Amount"). + + + 3.Vesting; Effect of Termination of Continuous Service; Change in Control + + + (a)Vesting Schedule. __________ of the Performance Share Unit number determined in accordance with Exhibit 1 shall vest on the __________ anniversary of the Grant Date and __________ of the Performance Share Unit number shall vest on __________ (each, a "Vesting Date"), respectively, such that the Performance Share Unit number evidenced by this Agreement + + + + 2 + + + + + + + + + + shall be fully vested on __________; provided, on each Vesting Date, the Participant has been in Continuous Service through such date (except that if, prior to a Vesting Date, the Participant's Continuous Service is terminated by the Company other than for Cause or by the Participant for Good Reason, the Participant shall be deemed to have continued in Continuous Service through the next following Vesting Date); provided, further, that in no event shall such number of shares of Stock exceed _____ times the Target Amount. All shares of Stock to be issued to the Participant under this Section 3(a), if any, shall be issued to the Participant as soon as practicable after the Determination Date and in no event later than __________. The Participant shall be entitled to the greater of the number of shares of Stock determined under this Section 3(a) and the number of shares of Stock determined under Section 3(c), 3(d), 3(e), 3(f) or 3(g), whichever is applicable. + + + (b)Termination for Cause. If, prior to the Determination Date, the Participant's Continuous Service is terminated by the Company for Cause, then the Participant shall forfeit any right to, and not be issued or receive, any shares of Stock under this Agreement. + + + (c)Termination Prior to a Change in Control Due to Death. If, prior to the Determination Date and prior to a Change in Control, the Participant's Continuous Service is terminated on account of death, then the Participant's Performance Share Unit number shall be determined in accordance with , and the Participant shall be vested either (i) on the Form 10-Q Filing Date if such termination occurs on or prior to such date during the Vesting Period or (ii) at the time of such termination, if such termination occurs after the Form 10-Q Filing Date, in a number of shares of Stock equal to such Performance Share Unit number; provided, this Section 3(c) shall supersede the vesting schedule set forth in Section 3(a) of this Agreement only to the extent that it results in accelerated vesting of the Performance Share Unit number and it shall not result in a delay of any vesting or non-vesting of any Performance Share Units that otherwise would occur on any Vesting Date during the Vesting Period under the terms of Section 3(a) above; and provided, that in no event shall the number of shares of Stock earned pursuant to this Section 3(c) exceed _____ times the Target Amount. Subject to Section 3(h), the number of shares of Stock determined pursuant to the preceding sentence, if any, shall be issued to the Participant's designated beneficiary as soon as practicable after the __________, but in no event later than __________. + + + (d)Termination Prior to a Change in Control Without Cause, for Good Reason or Disability. If, prior to the Determination Date and prior to a Change in Control, the Participant's Continuous Service is terminated by the Company other than for Cause or by the Participant on account of Good Reason or Disability, then the Participant's Performance Share Unit number shall be determined in accordance with , and the Participant shall be vested either (i) on the Form 10-Q Filing Date if such termination occurs on or prior to such date during such Vesting Period or (ii) at the time of such termination, if such termination occurs after the Form 10-Q Filing Date, in a number of shares of Stock equal to such Performance Share Unit number; provided, this Section 3(d) shall supersede the vesting schedule set forth in Section 3(a) of this Agreement only to the extent that it results in accelerated vesting of the Performance Share Unit number and it shall not result in a delay of any vesting or non-vesting of any Performance Share Units that otherwise would occur on any Vesting Date during the Vesting Period under the terms of Section 3(a) above; provided, that in no event shall the number of shares of Stock earned pursuant to this Section 3(d) exceed _____ times the Target Amount. Subject to Section 3(h), the number of shares of Stock determined pursuant to the preceding sentence, if any, shall be issued to the Participant as soon as practicable after the __________, but in no event later than __________. + + + (e)Change in Control. If a Change in Control occurs prior to the Determination Date and the Participant remains in Continuous Service through and including the Determination Date, the Participant shall be vested on the Determination Date in the Performance Share Unit number + + + + 3 + + + + + + + + + + determined in accordance with ; provided, this Section 3(e) shall supersede the vesting schedule set forth in Section 3(a) of this Agreement only to the extent that it results in accelerated vesting of the Performance Share Unit number and it shall not result in a delay of any vesting or non-vesting of any Performance Share Units that otherwise would occur on any Vesting Date during the Vesting Period under the terms of Section 3(a) above; provided, that in no event shall the number of shares of Stock earned pursuant to this Section 3(e) exceed _____ times the Target Amount. The number of shares of Stock determined pursuant to the preceding sentence, if any, shall be issued to the Participant as soon as practicable after the Determination Date, but in no event later than __________. + + + (f)Termination Coincident with or Following a Change in Control Due to Death. If a Change in Control occurs prior to the Determination Date, and the Participant's Continuous Service is terminated on account of the Participant's death prior to the Determination Date on or following such Change in Control, the Participant shall be vested at the time of such termination in the number of shares equal to the Performance Share Unit number determined in accordance with ; provided, this Section 3(f) shall supersede the vesting schedule set forth in Section 3(a) of this Agreement only to the extent that it results in accelerated vesting of the Performance Share Unit number and it shall not result in a delay of any vesting or non-vesting of any Performance Share Units that otherwise would occur on any Vesting Date during the Vesting Period under the terms of Section 3(a) above; provided, that in no event shall the number of shares of Stock earned pursuant to this Section 3(f) exceed _____ times the Target Amount. Subject to Section 3(h), the number of shares of Stock determined pursuant to the preceding sentence, if any, shall be issued to the Participant's designated beneficiary as soon as practicable after the __________, but in no event later than __________. + + + (g)Termination Without Cause, For Good Reason or Disability Coincident with or Following a Change in Control. If a Change in Control occurs prior to the Determination Date, and the Participant's Continuous Service is terminated prior to the Determination Date on or following such Change in Control by the Company other than for Cause or by the Participant on account of Good Reason or Disability, the Participant shall be vested at the time of such termination in the number of shares equal to the Performance Share Unit number determined in accordance with ; provided, this Section 3(g) shall supersede the vesting schedule set forth in Section 3(a) of this Agreement only to the extent that it results in accelerated vesting of the Performance Share Unit number and it shall not result in a delay of any vesting or non-vesting of any Performance Share Units that otherwise would occur on any Vesting Date during the Vesting Period under the terms of Section 3(a) above; provided, that in no event shall the number of shares of Stock earned pursuant to this Section 3(g) exceed _____ times the Target Amount. Subject to Section 3(h), the number of shares of Stock determined pursuant to the preceding sentence, if any, shall be issued to the Participant as soon as practicable after the __________, but in no event later than __________. + + + (h)Specified Employee. Notwithstanding anything in this Agreement to the contrary, if (i) the Participant is a "specified employee" (within the meaning of Section 409A of the Code), (ii) the issuance of the shares of Stock pursuant to this Agreement is considered to be a "deferral of compensation" (as such phrase is defined for purposes of Section 409A of the Code), and (iii) such issuance is made by reason of the Participant's "separation from service" with the Company (determined in accordance with Section 409A of the Code), then the Participant's date of issuance of the shares of Stock shall be the date that is the first day of the seventh month after the date of the Participant's separation from service. + + + (i)Rounding Method. For purposes of calculations of share amounts made under this Section 3, results shall be rounded to the nearest whole number using the common rounding method (i.e., increase to the next highest whole number if the first decimal is 5 or more). + + + + 4 + + + + + + + + + + (j)Unpaid Leave of Absence. Notwithstanding anything in this Section 3 to the contrary, in the event that, during the Performance Period, the Participant takes an unpaid leave of absence for a period of three consecutive months or more, then the number of shares of Stock the Participant shall be entitled to receive shall be adjusted by multiplying the Performance Share Unit number, as determined in accordance with , by a fraction, the numerator of which is the number of days the Participant was not on an unpaid leave of absence since the Grant Date in ____ until (i) the Determination Date (including such date) or (ii) if the Participant's Continuous Service terminates prior to the Determination Date, the date on which the Participant's Continuous Service terminates (including such date), and the denominator of which is the number of days from the Grant Date (excluding such date) until the Determination Date (including such date). + + + 4.Nontransferability of Grant + + + Except as otherwise provided herein or in the Plan, no Performance Share Units shall be assigned, negotiated, pledged, or hypothecated in any way or be subject to execution, attachment or similar process. No transfer of the Participant's rights with respect to such Performance Share Units, whether voluntary or involuntary, by operation of law or otherwise, shall be permitted. Immediately upon any attempt to transfer such rights, such Performance Share Units, and all of the rights related thereto, shall be forfeited by the Participant. + + + 5.Distribution and Voting Rights + + + (a)General. Performance Share Units shall have no distribution, dividend or voting rights, and the Participant will have no rights as a stockholder of the Company by virtue of any Performance Share Unit awarded to the Participant until shares of Stock, if any, are issued to the Participant as described in this Agreement. + + + (b)Dividend Equivalents. Notwithstanding the foregoing, the Company shall credit the Participant, on the Determination Date, with an additional number of Performance Share Units (rounded down to the nearest whole number) equal in value to any dividends that the Participant would have received after the Grant Date and prior to the applicable Vesting Date had the Participant been the actual owner of the number of shares of Stock represented by the Performance Share Units as determined upon application of the Vesting Factor as provided in Exhibit 1. The additional Performance Share Units shall be subject to the same terms and conditions as reflected in this Agreement (and any related addendum, if applicable), including the vesting, settlement and clawback/recoupment provisions applicable to the original Performance Share Units. Notwithstanding the foregoing, the Company may, in its discretion and in lieu of crediting the Participant with an additional number of Performance Share Units for such dividend equivalents, provide such dividend equivalents in the form of a cash payment to the Participant (subject to any applicable withholding of Tax-Related Items). + + + 6.Stock; Adjustment Upon Certain Events + + + (a)Stock to be issued under this Agreement, if any, shall be made available, at the discretion of the Board, either from authorized but unissued Stock or from Stock reacquired by the Company in the open market, in private transactions or otherwise. + + + (b)The existence of this Agreement and the Performance Share Units evidenced hereunder shall not affect in any way the right or power of the Board or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company's capital structure or its business, any merger or consolidation of the Company or any affiliate, any issue of bonds, debentures, preferred or prior preference stocks ahead of or affecting the Stock, the authorization or issuance of additional shares of Stock, the dissolution or + + + + 5 + + + + + + + + + + liquidation of the Company or any affiliate or sale or transfer of all or part of the assets or business of the Company or any affiliate, or any other corporate act or proceeding. + + + (c)Upon a Change in Control, the purchaser(s) of the Company's assets or stock or the surviving entity in a merger or consolidation may, in its or their discretion, deliver to the Participant the same kind of consideration that is delivered to the stockholders of the Company as a result of such Change in Control, or the Board may cancel all outstanding Performance Share Units in exchange for consideration in cash or in kind, which consideration in both cases shall be determined by the Board. + + + (d)In the event of any dividend or other distribution (whether in the form of cash, Stock, or other property), recapitalization, Stock split, reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase, or share exchange, or other similar corporate transaction or event that affects the Stock such that an adjustment is required in order to prevent dilution or enlargement of the rights of holders of Performance Share Units under the Plan, then the Committee shall make such equitable changes or adjustments to any or all of (i) the number and kind of shares of Stock or other property (including cash) that may thereafter be issued in connection with the Performance Share Units granted under the Plan, (ii) the number and kind of shares of Stock or other property (including cash) issued or issuable in respect of outstanding Performance Share Units, (iii) performance targets, and (iv) any individual limitations applicable to the Performance Share Units granted under the Plan. + + + 7.Determinations + + + The Committee (by proper delegation or otherwise) shall determine the extent to which an award has been earned, if at all, in accordance with Section 3 of this Agreement on or prior to the Determination Date. Such determination and all other determinations, interpretations or other actions made or taken pursuant to the provisions of this Agreement by the Committee (or its delegate) in good faith shall be final, conclusive and binding for all purposes and upon all persons, including, without limitation, the Participant and the Company, and their respective heirs, executors, administrators, personal representatives and other successors in interest. + + + 8.Other Conditions + + + The transfer of any Stock under this Agreement, if any, shall be effective only at such time as counsel to the Company shall have determined that the issuance and delivery of such Stock is in compliance with all applicable laws, regulations of governmental authority and the requirements of any securities exchange on which Stock is traded. + + + 9.Subject to Clawback Policy + + + Notwithstanding anything in this Agreement to the contrary, the Performance Share Units covered by this Agreement are subject to the terms and provisions of the Company's clawback policies as may be in effect from time to time, to the extent provided for under such policies and applicable to the Participant. + + + 10.Withholding Taxes + + + (a)Regardless of any action the Company or the employer takes with respect to any or all federal, state, local or foreign income tax, social insurance, payroll tax, payment on account or other tax related-items ("Tax-Related Items"), the Participant acknowledges that the ultimate liability for all Tax Related-Items associated with the Performance Share Units is the Participant's responsibility and that the Company and the employer (i) make no representations or undertakings regarding the treatment of any Tax Related-Items in connection with any aspect + + + + 6 + + + + + + + + + + of the Performance Share Units, including, but not limited to, the grant or vesting of the Performance Share Units, the delivery of shares of Stock, the subsequent sale of shares of Stock acquired at vesting, and the receipt of any dividends or dividend equivalents; and (ii) do not commit to structure the terms of the grant or any aspect of the Performance Share Units to reduce or eliminate the Participant's liability for Tax Related-Items. Further, if the Participant is subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the employer (or former employer, as applicable) may be required to withhold or account for Tax Related-Items in more than one jurisdiction. + + + (b)If the Participant's country of residence (and/or the country of employment, if different) requires withholding of Tax-Related Items, the Company may withhold any shares of Stock otherwise issuable upon vesting that have an aggregate Fair Market Value sufficient to pay the minimum Tax-Related Items required to be withheld (or an equivalent cash amount, where the Performance Share Units are settled in cash). For purposes of the foregoing, no fractional shares of Stock will be withheld or issued pursuant to the grant of the Performance Share Units. If the obligation for Tax-Related Items is satisfied by withholding shares of Stock, for tax purposes, the Participant shall be deemed to have been issued the full number of shares of Stock (or the gross amount of the cash payment), notwithstanding that a number of shares of Stock are withheld solely for the purpose of satisfying any withholding obligations for the Tax-Related Items due as a result of any aspect of the Participant's participation in the Plan. In addition, where the Performance Share Units are settled in shares of Stock, the Company may, on behalf of the Participant, sell a sufficient number of whole shares of Stock issued upon vesting of the Performance Share Units having an aggregate Fair Market Value that would satisfy the withholding amount. Alternatively, the Company or the employer may, in its discretion and subject to applicable law, withhold any amount necessary to pay the Tax-Related Items from the Participant's regular salary/wages or other amounts payable to the Participant, with no withholding of shares of Stock payable upon vesting, or the Participant may, in his or her discretion, submit payment equivalent to the minimum Tax-Related Items required to be withheld by means of certified check, cashier's check, or wire transfer. In the event the withholding requirements for Tax-Related Items are not satisfied through one of the foregoing methods, no shares of Stock will be released to the Participant (or the Participant's estate) upon vesting of the Performance Share Units unless and until satisfactory arrangements (as determined by the Company in its sole discretion) have been made by the Participant with respect to the payment of any such Tax-Related Items. By accepting the Performance Share Units, the Participant expressly consents to the withholding methods for Tax-Related Items as provided hereunder and/or any other methods of withholding that the Company or the employer may take and are permitted under the Plan to meet the withholding and/or other requirements as provided under applicable laws, rules, and regulations. All other Tax-Related Items related to the Performance Share Units shall be the sole responsibility of the Participant. + + + (c)Notwithstanding the foregoing, if the Participant is subject to Section 16 of the Securities Exchange Act of 1934 as of the date the relevant Performance Share Unit first becomes includible in the gross income of the Participant for purposes of Tax Related-Items, all Tax Related-Items legally payable by the Participant in respect of the Performance Share Units shall be satisfied by the Company withholding a number of the shares of Stock that would otherwise be delivered to the Participant upon the vesting or settlement of the Performance Share Units with a Fair Market Value, determined as of the date of the relevant taxable event, equal to the minimum statutory withholding amount that applies to the Participant, rounded up to the nearest whole share ("Net Settlement"), or the Participant may, in his or her discretion, submit payment to the Company equivalent to the minimum Tax-Related Items required to be withheld by means of certified check, cashier's check or wire transfer. The Net Settlement mechanism described herein was approved by the Committee prior to the Grant Date in a manner intended to constitute "approval in advance" by the Committee for purposes of Rule 16b3-(e) under the Securities Exchange Act of 1934, as amended. + + + + 7 + + + + + + + + + + (d)If the obligation for Tax Related-Items is satisfied by net settlement, for tax purposes, the Participant shall be deemed to have been issued the full number of shares of Stock issued upon vesting of the Performance Share Units notwithstanding that a number of the shares of Stock are held back solely for the purpose of paying the Tax Related-Items. + + + 11.Distribution of Stock + + + Subject to Section 8, the Company shall cause the Participant to be the beneficial owner of any shares of Stock that the Participant becomes entitled to receive under this Agreement in accordance with the payment terms described in Section 3. + + + 12.Incorporation of the Plan + + + The Plan, as it exists on the date of this Agreement and as amended from time to time, is hereby incorporated by reference and made a part hereof, and the Performance Share Units and this Agreement shall be subject to all terms and conditions of the Plan. In the event of any conflict between the provisions of this Agreement and the provisions of the Plan, the terms of the Plan shall control, except as expressly stated otherwise. + + + 13.Miscellaneous + + + (a)Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, personal legal representatives, successors, trustees, administrators, distributees, devisees and legatees. Subject to Sections 6(c) and 6(d), the Company shall assign this Agreement to any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, and will require such successor to expressly assume and agree in writing to perform this Agreement. Notwithstanding the foregoing, this Agreement may not be assigned by the Participant. + + + (b)Confidentiality. The Participant acknowledges that the Company intends for the information contained in this Agreement, including , to remain confidential unless and until the Company publishes such information publicly. Notwithstanding any other provision hereof, the Participant's entitlement to any award or payment hereunder is contingent upon the Participant maintaining the confidentiality of the information contained in this Agreement, including . The Participant agrees that he or she shall not disclose or cause the disclosure of such information and shall hold such information confidential. + + + (c)Amendments. Any amendment to the Plan will be deemed to be an amendment to this Agreement to the extent that the amendment is applicable to this Agreement. Furthermore, subject to Section 2 of , no modification or waiver of any of the provisions of this Agreement that would reduce the Participant's rights under this Agreement shall be effective unless memorialized in writing and consented to by the party against whom it is sought to be enforced (which consent may be by failure to object to any such modification or waiver by a specified date). + + + (d)Section 409A of the Code. To the extent applicable, it is intended that this Agreement comply with the provisions of Section 409A of the Code, so that the income inclusion provisions of Section 409A(a)(1) of the Code do not apply to the Participant. This Agreement shall be administered in a manner consistent with this intent. References to Section 409A of the Code will also include any regulations or any other formal guidance promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal Revenue Service. + + + + 8 + + + + + + + + + + (e)Waiver. The failure of any party hereto at any time to require performance by another party of any provision of this Agreement shall not affect the right of such party to require performance of that provision, and any waiver by any party of any breach of any provision of this Agreement shall not be construed as a waiver of any continuing or succeeding breach of such provision, a waiver of the provision itself, or a waiver of any right under this Agreement. + + + (f)Headings. The headings of the sections of this Agreement have been inserted for convenience of reference only and shall in no way restrict or modify any of the terms or provisions hereof. + + + (g)Fees and Compliance with Law. The Company shall pay all fees and expenses necessarily incurred by it in connection with this Agreement and will use its reasonable efforts to comply with all laws and regulations which, in the opinion of counsel to the Company, are applicable thereto. + + + (h)Notices. All notices, consents, requests, approvals, instructions and other communications provided for herein shall be in writing and validly given or made when delivered (including via email, the Web Portal or any other electronic means), or on the second succeeding business day after being mailed by registered or certified mail, whichever is earlier, to the persons entitled or required to receive the same, at the addresses set forth at the heading of this Agreement or to such other address as either party may designate by like notice. Notices by the Participant under, pursuant to or in connection with this Agreement shall be addressed to the Company's principal office, attention of the Company's General Counsel. + + + (i)Complete Agreement. The Plan, this Agreement and the Grant Summary constitute the entire agreement and understanding between the parties with respect to the matters described herein and supersede all prior and contemporaneous agreements and understandings, oral and written, between the parties with respect to such subject matter. + + + (j)Governing Law; Choice of Law. This Agreement shall be governed and construed and the legal relationships of the parties determined in accordance with the laws of the state of Delaware without reference to principles of conflict of laws.Further, for purposes of litigating any dispute that arises directly or indirectly between the parties regarding the Performance Share Units evidenced by this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction and venue of the federal or state courts of the state of Delaware of the United States of America, and agree that such litigation shall be conducted exclusively in such courts. + + + (k)Authorization. The Company represents and warrants that it is duly authorized by its Board and/or the Committee (and by any other person or body whose authorization is required) to enter into this Agreement, that there is no agreement or other legal restriction which would prevent it from entering into, and carrying out its obligations under, this Agreement, and that the officer signing this Agreement is duly authorized and empowered to sign this Agreement on behalf of the Company. + + + (l)Investigations. Notwithstanding anything in this Agreement or any other agreement with the Company or a Subsidiary, nothing shall limit the Participant's rights under applicable law to provide truthful information to any governmental entity or to file a charge with or participate in an investigation conducted by any governmental entity. + + + (m) Severability. In the event that one or more of the provisions of this Agreement is invalidated for any reason by a court of competent jurisdiction, any provision so invalidated will be deemed to be separable from the other provisions of this Agreement, and the remaining provisions of this Agreement will continue to be valid and fully enforceable. + + + + 9 + + + + + + + + + + 14.Imposition of Other Requirements + + + The Company reserves the right to impose other requirements on the Performance Share Units, any payment made pursuant to the Performance Share Units, and the Participant's participation in the Plan, to the extent the Company determines, in its sole discretion, that such other requirements are necessary or advisable in order to comply with local law, rules and regulations or to facilitate the operation and administration of the Performance Share Units and the Plan. Such requirements may include (but are not limited to) requiring the Participant to sign any agreements or undertakings that may be necessary to accomplish the foregoing. + + + 15.Insider Trading/Market Abuse Laws + + + By accepting the Performance Share Units, the Participant acknowledges that the Participant is bound by all the terms and conditions of any Company insider trading policy as may be in effect from time to time. The Participant further acknowledges that, depending on the Participant's country of residence (and country of employment, if different), the Participant may be or may become subject to insider trading restrictions and/or market abuse laws, which may affect the Participant's ability to accept, acquire, sell or otherwise dispose of shares of Stock, rights to shares of Stock (e.g., Performance Share Units) or rights linked to the value of shares of Stock under the Plan during such times as the Participant is considered to have "inside information" regarding the Company (as defined by the laws in the applicable jurisdictions). Local insider trading laws and regulations may prohibit the cancellation or amendment of orders the Participant placed before the Participant possessed inside information. Furthermore, the Participant could be prohibited from (i) disclosing the inside information to any third party, which may include fellow employees and (ii) "tipping" third parties or causing them otherwise to buy or sell securities. + + + Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any Company insider trading policy as may be in effect from time to time. The Participant acknowledges that it is the Participant's personal responsibility to comply with any applicable restrictions, and the Participant should consult with the Participant's personal legal and investment advisors for additional information. + + + 16.No Advice Regarding Grant + + + No employee of the Company is permitted to advise the Participant on whether the Participant should acquire shares of Stock under the Plan or provide the Participant with any legal, tax or financial advice with respect to the grant of the Performance Share Units. Investment in shares of Stock involves a degree of risk. Before deciding to acquire shares of Stock pursuant to the Performance Share Units, the Participant should carefully consider all risk factors and tax considerations relevant to the acquisition of shares of Stock under the Plan or the disposition of them. Further, the Participant should carefully review all of the materials related to the Performance Share Units and the Plan, and the Participant should consult with the Participant's personal legal, tax, and financial advisors for professional advice in relation to the Participant's personal circumstances. + + + + + + + 10 + + + + + + + + + + + + + IN WITNESS WHEREOF, this Agreement has been executed by the Company as of the Grant Date in ____ as set forth on the Grant Summary. + + + + + + BOOKING HOLDINGS INC. + + + + + + + [INSERT NAME AND TITLE] + + + + + + + 11 + + + + + + + + + + + + + [INSERT THE RELEVANT PERFORMANCE GOALS AND ANY SPECIFIC DEFINITIONS RELATED TO SUCH GOALS HERE]1 + + + + + + [INSERT METHODOLOGY FOR DETERMINING THE NUMBER OF PERFORMANCE SHARE UNITS EARNED AT THE END OF THE PERFORMANCE PERIOD AND UPON EARLY TERMINATION EVENTS BASED ON THE ACHIEVEMENT OF THE APPLICABLE PERFORMANCE GOALS HERE.] + + + 1 The Performance Goals shall be determined by the Committee in accordance with the Plan and may include quantitative and/or qualitative goals, including, without limitation, the following, any combination of the following, or any metrics based in part on any of the following: (i) pre-tax income or after-tax income, (ii) operating profit, (iii) return on equity, assets, capital or investment, (iv) earnings, (v) earnings before interest, taxes, depreciation and/or amortization, (vi) book value per share, (vii) sales or revenues, (viii) operating expenses, (ix) margins, (x) market share, (xi) gross bookings, (xi) hotel/accommodation room nights, (xii) price appreciation or other measurement of the change in value of a share of Stock, (xiii) organizational structure or restructuring goals, (xiv) establishment and/or implementation of company policies, (xv) regulatory or compliance goals, (xvi) human resource related goals or (xvii) strategic goals. Where applicable, the Performance Goals may be expressed in terms of attaining a specified level of the particular criteria or the attainment of a percentage increase or decrease in the particular criteria, and may be applied to one or more of the Company, a Subsidiary or Affiliate, or a division or strategic business unit of the Company, or may be applied to the performance of the Company relative to a market index, a group of other companies or a combination thereof, all as determined by the Committee. The Performance Goals may include a threshold level of performance below which no vesting will occur, levels of performance at which specified vesting will occur, and a maximum level of performance at which full vesting will occur. As provided for in the Plan, the Committee shall have the authority to make equitable adjustments to the Performance Goals in recognition of, among other things, unusual or non-recurring events affecting the Company or any Subsidiary or Affiliate or the financial statements of the Company or any Subsidiary or Affiliate, in response to changes in applicable laws or regulations, or to account for items of gain, loss or expense determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business or related to a change in accounting principles. + + + + 12 + + + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Booking Holdings Inc. published this content on 23 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2023 00:10:17 UTC. + + diff --git a/news/BKNG/2023.02.23/Booking Holdings : Q4 Earnings Snapshot.txt b/news/BKNG/2023.02.23/Booking Holdings : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..4e231caed2c705ae3f83dd5635864f201af83803 --- /dev/null +++ b/news/BKNG/2023.02.23/Booking Holdings : Q4 Earnings Snapshot.txt @@ -0,0 +1,2 @@ +NORWALK, Conn. (AP) — NORWALK, Conn. (AP) — Booking Holdings Inc. (BKNG) on Thursday reported fourth-quarter earnings of $1.24 billion.On a per-share basis, the Norwalk, Connecticut-based company said it had net income of $31.92. Earnings, adjusted for non-recurring gains, were $24.74 per share.The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $20.97 per share.The online booking service posted revenue of $4.05 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $3.86 billion.For the year, the company reported profit of $3.06 billion, or $76.35 per share. Revenue was reported as $17.09 billion.Booking Holdings shares have increased 20% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $2,426.49, a decrease of almost 2% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BKNG at https://www.zacks.com/ap/BKNGFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. +, source Associated Press News \ No newline at end of file diff --git a/news/BKNG/2023.02.23/Booking Holdings says quarterly revenue up 36% on strong travel demand.txt b/news/BKNG/2023.02.23/Booking Holdings says quarterly revenue up 36% on strong travel demand.txt new file mode 100644 index 0000000000000000000000000000000000000000..6a83c3aef0682ac71d243c24ffd3e01b9d55d297 --- /dev/null +++ b/news/BKNG/2023.02.23/Booking Holdings says quarterly revenue up 36% on strong travel demand.txt @@ -0,0 +1 @@ +The Booking.com and KAYAK operator's revenue rose to $4 billion for the quarter. Gross bookings for the quarter rose 44% from the year-ago period to $27.3 billion, the company said. (Reporting by Doyinsola Oladipo in New York) \ No newline at end of file diff --git a/news/BKNG/2023.02.24/Booking sets record with monthly overnight stays.txt b/news/BKNG/2023.02.24/Booking sets record with monthly overnight stays.txt new file mode 100644 index 0000000000000000000000000000000000000000..299b4ba860b76575a9951c76b1b498d2e99f44f3 --- /dev/null +++ b/news/BKNG/2023.02.24/Booking sets record with monthly overnight stays.txt @@ -0,0 +1 @@ + Copyright Emerce Online travel agency Booking Holdings set a new record for monthly overnight stays in January. Earlier, Airbnb also reported sharply increasing demand for overnight stays.Booking booked more than 95 million overnight stays in January 2023, up 10 million from its previous record in May 2022).Revenue for the company behind Booking.com and KAYAK rose 36 percent year-on-year to $4 billion in the fourth quarter. Profits rose 46 percent to 957 million.Gross bookings for the quarter rose 44 percent from the same period last year to 27.3 billion.For the full year, Booking posted a record $17 billion, 13 percent more than in 2019.Meanwhile, the European Parliament is working on for the remittance of municipal tourist taxes by booking platforms such as Airbnb and booking.com. They will soon have to open their records to governments and regulators. This will prevent room rentals and hotels from evading municipal taxes. GroenLinks MEP Kim van Sparrentak has been appointed "rapporteur" for this new European regulation.© The Content Exchange, source News \ No newline at end of file diff --git a/news/BKNG/2023.02.24/U.S. travel companies experience high demand but economic worries cloud outlook.txt b/news/BKNG/2023.02.24/U.S. travel companies experience high demand but economic worries cloud outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..c56b9e2f61b31e025f786a755bf38fbd2f94582c --- /dev/null +++ b/news/BKNG/2023.02.24/U.S. travel companies experience high demand but economic worries cloud outlook.txt @@ -0,0 +1 @@ +Several big names in the travel and leisure industry, including Airbnb Inc, Hilton Worldwide Holdings and Royal Caribbean Cruises are reporting faster rates of bookings in 2023 than in 2019 prior to the coronavirus pandemic. U.S. travel spending in December 2022 totaled $97 billion, 3% above 2019 levels and 7% above 2021 levels, according to the U.S. Travel Association.The demand contrasts with declining home improvement sales and other discretionary purchases that have hurt furniture stores and retailers like Home Depot. "Investors are increasingly becoming more comfortable that we are not going to see a travel pullback in the first half of the year, but the back half of the year remains to be seen," said Patrick Scholes, Truist Securities managing director.International travel spurred demand growth for Airbnb and Marriott International Inc in the fourth quarter. Short-term rental demand in December increased 33% compared to 2019, according to data from analytics firm AirDNA. American Express said bookings through its consumer travel business were 50% higher in the fourth quarter compared to pre-pandemic levels, the strongest rate that the credit card company has seen since the beginning of the recovery.Online travel company Booking Holdings Inc CEO Glenn Fogel said on Thursday that January 2023 set a new record for monthly room night bookings. But that is having an effect on other retailers. "You can't fight the tide (with consumer spending) going back to services, people traveling and whatnot," said Home Depot CEO Edward Decker on an earnings call earlier this week. However, Hilton said it anticipates demand will plateau as the economy slows in the second half of 2023, Chief Executive Officer Christopher Nassetta told investors on a call.Group bookings are still down 15% compared to pre-pandemic levels as headwinds in several industries continue to affect business travel, said Truist's Scholes.And U.S. travel companies with large exposure to China, the largest outbound travel market in the world before the pandemic, were cautious in sales guidance, noted AB Bernstein Analyst Richard Clarke, even as they expect demand to rebound. Hyatt Hotels said its occupancy in China in the first weeks of February was higher than in the United States."We believe there's still further upside in 2023, especially now that China's borders have reopened," Marriott Chief Executive Anthony Capuano told investors. (Reporting by Doyinsola Oladipo in New York; Editing by Kirsten Donovan)By Doyinsola Oladipo \ No newline at end of file diff --git a/news/BKR/2023.01.03/Baker Hughes to provide equipment for Petronas carbon capture project.txt b/news/BKR/2023.01.03/Baker Hughes to provide equipment for Petronas carbon capture project.txt new file mode 100644 index 0000000000000000000000000000000000000000..2e556ef07974db4098ee52a5fc2eeb9e41befe52 --- /dev/null +++ b/news/BKR/2023.01.03/Baker Hughes to provide equipment for Petronas carbon capture project.txt @@ -0,0 +1,10 @@ +Jan 3 (Reuters) - Oilfield services firm Baker Hughes Co +said on Tuesday it has won a contract to provide carbon +dioxide compression equipment to Petronas' Kasawari +offshore carbon capture project.The project is expected to be the world's largest offshore +carbon capture and sequestration facility, the companies said.Baker Hughes will provide turbocompression equipment to +transport CO2 emitted from flaring at the Kasawari gas +development and reinject it into a depleted offshore field +through a subsea pipeline.The contract will be booked in Baker Hughes' fourth quarter +results, according to the company. +(Reporting by Ruhi Soni) \ No newline at end of file diff --git a/news/BKR/2023.01.05/Mib down slightly, down utilities and up oil.txt b/news/BKR/2023.01.05/Mib down slightly, down utilities and up oil.txt new file mode 100644 index 0000000000000000000000000000000000000000..e76cb78de0aa7b46112feafe65100770c387ef92 --- /dev/null +++ b/news/BKR/2023.01.05/Mib down slightly, down utilities and up oil.txt @@ -0,0 +1 @@ +(Alliance News) - Piazza Affari closed slightly lower on Thursday, the day after the release of the minutes of the Federal Reserve's latest FOMC meeting and after Istat reported that inflation in Italy slowed only marginally year-on-year in December, to 11.6 percent from 11.8 percent in November.Of note is the dollar's significant jump against other major currencies--euro and pound sterling above all--after today's ADP data.U.S. private businesses created 235,000 jobs in December 2022, well above market forecasts of 150,000, according to data from Automatic Data Processing on Thursday. Service providers added 213,000 jobs, led by the leisure and hospitality, professional and business services, and education and health services sectors. The goods-producing sector increased by 22,000, led by construction with 41,000 place.For Chris Beauchamp, chief analyst at IG, "the dollar is looking for a reason to strengthen, since yesterday's Fed minutes provided nothing new. Today's ADP payrolls report, which shattered expectations and indicated signs of strong wage growth, was just the ticket for a rally, although a rally of more than a few days will need much stronger data as the Fed's tightening is expected to reach its apogee in the coming months."After the data, the euro changed hands at USD1.0525 versus USD1.0619 at Wednesday's close. In contrast, the pound is worth USD1.1897 from USD1.2048 last night.The FTSE Mib closed down 0.1 percent to 24,832.70, the Mid-Cap lost 0.1 percent to 40,614.78, the Small-Cap fell slightly to 28,288.48, and Italy Growth finished the session down 0.1 percent to 9,390.35.In Europe, London's FTSE 100 rose 0.6 percent, Paris' CAC 40 closed down 0.2 percent and Frankfurt's DAX 40 gave up 0.3 percent.On the mostly bearish main list of Piazza Affari, oils recovered as Brent crude rose and slowly approached USD80 a barrel. Tenaris rises 2.9%. Also doing well are Saipem, up 0.4 percent, and Eni, up 0.2 percent.ERG gives up 1.6.% as does Snam after the latter reported Tuesday that natural gas stocks as of Dec. 31, 2022 in its subsidiary Stogit's storage facilities amount to 9.3 billion cubic meters, to which 4.5 billion cubic meters of strategic storage must be added.This is about 2.6 billion more than the stock of 6.7 billion cubic meters recorded at the end of December 2021.Stellantis, up 1.0 percent, said Thursday that it will "significantly expand" its partnership with Archer Aviation -- a California-based company that markets electric vertical takeoff and landing aircraft -- after joining forces to produce Archer's Midnight eVTOL aircraft.Stellantis also agreed to provide up to USD150 million in equity for a potential drawdown by Archer, at its discretion, in 2023 and 2024.Hera lost 3.4 percent after announcing Thursday EUR150 million in district heating investments over the 2023-2026 period.Of these, three Hera Group projects dedicated to district heating -- in Bologna, Ferrara, and Forlì -- were awarded funding under the National Recovery and Resilience Plan, mission "Green Revolution and Ecological Transition," totaling nearly EUR50 million.Terna gave up 1.9 percent after signing an agreement to acquire 100 percent of the capital of Edyna Transmission, an Alperia Group company dedicated to the transmission sector, which owns 34 km of high-voltage power lines and two power stations in South Tyrol.The assets are already part of the national electricity transmission grid and were taken over by Terna for a total value of about EUR14 million. The deal is subject to the fulfillment of certain conditions precedent. Moncler, meanwhile, rose 0.4 percent, with Bernstein raising the target price to EUR60.00 from EUR54.00.On the Mid-Cap, Industrie De Nora remains in the upper quarters, up 1.7 percent.Piaggio, up 2.6 percent, and Saras, which, like the other oil-related companies on the Mib, is following a bullish trend, up 2.7 percent.PharmaNutra is down 0.5 percent. The company announced the signing of three new international commercial agreements for the distribution of products from the SiderAL® and Cetilar® lines in the Indonesian Republic, Kuwait, and Mexico.With the signing of these new contracts, the PharmaNutra Group currently has 47 distributors in 70 countries across Europe, Asia, Latin America and Africa.Webuild lost 0.5 percent. On Monday, it announced that in the week of Dec. 28-30, 2022, inclusive, it bought back 40,500 of its own common shares.On the Small-Cap, BasicNet gained 0.5 percent. The company disclosed Friday that it purchased 16,500 shares of its own common stock between Dec. 27 and Dec. 30. As of today, the company holds 3.9 million treasury shares, or 7.2 percent of its share capital.Civitanavi Systems rose 1.3 percent. The company announced that it has signed a ruling agreement with the Internal Revenue Service that will allow the company to have access to the Patent Box tax benefit for intellectual property for patents and know-how.The tax benefit for the five-year period 2017-2021 will be accounted for in the fiscal year 2022 and the quantification will take place when the financial statements are prepared.Among SMEs, Clabo gained 22 percent after being suspended for excess volatility for most of the session and after it announced on Wednesday that its U.S. subsidiary Howard McCray has concluded two commercial agreements worth a total of USD750,000, or EUR710,000, with 2 retail chains operating within the HoReCa channel.The two trade agreements refer to deliveries to be made in the year 2023 regarding products in the "Dairy - Multipurpose" line.Circle rose 1.1 percent. On Monday, the company announced that it has signed a new contract through the Log@Sea business network to supply advanced Gate Automation solutions to a leading Tyrrhenian multipurpose terminal."The order, the value of which exceeds EUR145,000, involves the implementation of a complete project of specialized hardware components and Milos software for the management of gate access control procedures for vehicles and Intermodal Transport Units. The topical moment and market confidence in the solutions behind our Connect 4 Agile Growth plan are confirmed," explained president and CEO, Luca Abatello.Pharmacosmo closed up 1.5 percent. The company reported Wednesday that CEO Fabio de Concilio bought more than 26,500 shares of the company's common stock.In New York, the Dow is down 1.0 percent to 32,935.04, the Nasdaq gives up 1.2 percent to 10,337.17 and the S&P 500 is down 1.0 percent to 3,814.51.Among commodities, Brent crude is worth USD78.14 per barrel from USD78.34 per barrel last night. Gold, on the other hand, trades at USD1,826.70 an ounce from USD1,865.60 an ounce Wednesday night.Friday's macro calendar opens with Japan's services PMI, due at 0130 CET, followed by Germany's factory orders at 0800 CET, coming 45 minutes before France's consumer spending and asset reserve numbers.At 1030 CET, room for the U.K. construction PMI, half an hour before consumer and business confidence, retail sales, and Eurozone inflation.From the US, focus on December nonfarm payrolls, coming at 1430 CET, at the same time as the unemployment rate. At 1600 CET, it will be the turn of factory orders and durable goods data. At 1900 CET, close the day with Baker Hughes drilling rig data.Among companies in the Piazza Affari, no particular major events are expected.By Giuseppe Fabio Ciccomascolo, Alliance News senior reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/BKR/2023.01.06/Futures await European listers in green.txt b/news/BKR/2023.01.06/Futures await European listers in green.txt new file mode 100644 index 0000000000000000000000000000000000000000..285e349ab41c39685c24aaad44db6a3b22e4e7b0 --- /dev/null +++ b/news/BKR/2023.01.06/Futures await European listers in green.txt @@ -0,0 +1 @@ +(Alliance News) - On Friday, Piazza Affari is expected to open up in the last session of the first week of the year, according to IG futures indications, followed by the other major European bourses in another day when Eurozone and US macros will be the most interesting part.Thus, futures give the FTSE Mib up 105.0 points or up 0.4 percent, after closing Thursday down 0.1 percent at 24,832.70.Paris' CAC 40 is expected to be up 30.0 points or 0.4 percent, as is Frankfurt's DAX 40 up 56.0 points or 0.4 percent, while London's FTSE 100 is expected to be in the green 20.7 points or 0.3 percent.Among the smaller lists in Milan on Thursday, the Mid-Cap lost 0.1 percent to 40,614.78, the Small-Cap fell slightly to 28,288.48, and Italy Growth finished the session down 0.1 percent to 9,390.35.On the predominantly bearish main list of Piazza Affari, oils recovered as Brent crude rose and slowly approached USD80 a barrel. Tenaris rose 2.9 percent. Saipem, up 0.4 percent, and Eni, up 0.2 percent, also did well.ERG gave up 1.6.% as did Snam after the latter reported Tuesday that natural gas inventories as of Dec. 31, 2022 in its subsidiary Stogit's storage facilities amount to 9.3 billion cubic meters, plus 4.5 billion cubic meters of strategic storage.This is about 2.6 billion more than the stock of 6.7 billion cubic meters recorded at the end of December 2021.Stellantis, up 1.0 percent, said Thursday that it will "significantly expand" its partnership with Archer Aviation -- a California-based company that markets electric vertical takeoff and landing aircraft -- after joining forces to produce Archer's Midnight eVTOL aircraft.Stellantis also agreed to provide up to USD150 million in equity for a potential drawdown by Archer, at its discretion, in 2023 and 2024.Hera lost 3.4 percent after announcing Thursday EUR150 million in district heating investments over the 2023-2026 period.Of these, three Hera Group projects dedicated to district heating -- in Bologna, Ferrara, and Forlì -- were awarded funding under the National Recovery and Resilience Plan, mission "Green Revolution and Ecological Transition," totaling nearly EUR50 million.Terna gave up 1.9 percent after signing an agreement to acquire 100 percent of the capital of Edyna Transmission, an Alperia Group company dedicated to the transmission sector, which owns 34 km of high-voltage power lines and two power stations in South Tyrol.The assets are already part of the national electricity transmission grid and were taken over by Terna for a total value of about EUR14 million. The deal is subject to the fulfillment of certain conditions precedent. Moncler, meanwhile, rose 0.4 percent, with Bernstein raising the target price to EUR60.00 from EUR54.00.On the Mid-Cap, Industrie De Nora remained in the upper quarters, up 1.7 percent.Piaggio was good, up 2.6 percent, and Saras, which, like the other oil-related companies on the Mib, followed a bullish trend, up 2.7 percent.PharmaNutra is down 0.5 percent. The company announced the signing of three new international commercial agreements for the distribution of products from the SiderAL® and Cetilar® lines in the Indonesian Republic, Kuwait, and Mexico.With the signing of these new contracts, the PharmaNutra Group currently has 47 distributors in 70 countries across Europe, Asia, Latin America and Africa.Webuild lost 0.5 percent. On Monday, it announced that in the week of Dec. 28-30, 2022, inclusive, it bought back 40,500 of its own common shares.On the Small-Cap, BasicNet gained 0.5 percent. The company disclosed on Friday that it purchased 16,500 shares of its own common stock between Dec. 27 and Dec. 30. As of today, the company holds 3.9 million treasury shares, or 7.2 percent of its share capital.Civitanavi Systems rose 1.3 percent. The company announced that it has signed a ruling agreement with the Internal Revenue Service that will allow the company to have access to the Patent Box tax benefit for intellectual property for patents and know-how.The tax benefit for the five-year period 2017-2021 will be accounted for in the fiscal year 2022 and the quantification will take place when the financial statements are prepared.Among SMEs, Clabo gained 22 percent after being suspended for excess volatility for most of the session and after it announced on Wednesday that its U.S. subsidiary Howard McCray has concluded two commercial agreements worth a total of USD750,000, or EUR710,000, with 2 retail chains operating within the HoReCa channel.The two trade agreements refer to deliveries to be made in the year 2023 regarding products in the "Dairy - Multipurpose" line.Circle rose 1.1 percent. On Monday, the company announced that it has signed a new contract through the Log@Sea business network to supply advanced Gate Automation solutions to a leading Tyrrhenian multipurpose terminal."The order, the value of which exceeds EUR145,000, involves the implementation of a complete project of specialized hardware components and Milos software for the management of gate access control procedures for vehicles and Intermodal Transport Units. The topical moment and market confidence in the solutions behind our Connect 4 Agile Growth plan are confirmed," explained president and CEO, Luca Abatello.Pharmacosmo closed up 1.5 percent. The company reported Wednesday that CEO Fabio de Concilio bought more than 26,500 shares of the company's common stock.In Asia, the Nikkei closed in the green 0.6 percent to 25,973.85, the Shanghai Composite rose 0.1 percent to 3,157.64, and the Hang Seng rose 0.1 percent to 21,060.41.In New York on Thursday, the Dow Jones closed 1.0 percent in the red at 32,930.08, the S&P gave up 1.2 percent to 3,808.10, while the Nasdaq left 1.5 percent on the sidelines at 10,305.24. Among currencies, the euro changed hands at USD1.0513 versus USD1.0525 at Thursday's close. In contrast, the pound is worth USD1.1905 from USD1.1897 last night.Among commodities, Brent crude is worth USD79.19 a barrel from USD78.14 a barrel last night. Gold, on the other hand, trades at USD1,842.85 an ounce from USD1,826.70 an ounce Thursday night.Friday's macro calendar includes a slot for the UK construction PMI at 1030 CET, half an hour before consumer and business confidence, retail sales, and Eurozone inflation.From the US, focus on December nonfarm payrolls, coming at 1430 CET, the same time as the unemployment rate. At 1600 CET, it will be the turn of factory orders and durable goods data. At 1900 CET, close the day with Baker Hughes drilling rig data.Among companies in the Piazza Affari, no particular major events are expected.By Claudia Cavaliere, Alliance News reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/BKR/2023.01.06/Mib touches 25,000; momentum after Eurozone data.txt b/news/BKR/2023.01.06/Mib touches 25,000; momentum after Eurozone data.txt new file mode 100644 index 0000000000000000000000000000000000000000..f1d8d2657f772811793ebb6a8659cb61ec802bf8 --- /dev/null +++ b/news/BKR/2023.01.06/Mib touches 25,000; momentum after Eurozone data.txt @@ -0,0 +1 @@ +(Alliance News) - On Friday, the trend in the markets is to confirm the opening results, with the major European stock markets in positive territory with the only exception of the Francorte Stock Exchange, which is holding down.Thus, the FTSE Mib is in the green by 0.4 percent at 24,926.90, the Mid-Cap is in the green by 0.2 percent at 40,676.44, as is the Small-Cap at 28,354.70, while Italy Growth is up by 0.1 percent at 9,399.43.In Europe, Paris' CAC 40 rises 0.2 percent, London's FTSE 100 gains 0.3 percent, while Frankfurt's DAX 40 is down 0.1 percent.In macroeconomic news, it is reported from the Eurozone that inflation cooled more than expected in the last month of last year, falling below double digits after two months.Looking at the main components of inflation in the eurozone, energy recorded the highest annual rate in December at 26 percent compared to 35 percent in November, followed by food, alcohol and tobacco at 13.8 percent compared to 13.6 percent in November, non-energy industrial goods at 6.4 percent from 6.1 percent in November, and services at 4.4 percent compared to 4.2 percent in November.Still, Eurozone retail sales returned to growth on a monthly basis in November but fell further on an annual basis. As Eurostat explains, non-food retail sales rose 1.6 percent on a monthly basis in November and fell 2.3 percent on a year-over-year basis; auto fuels rose 1.0 percent on the month before and 4.4 percent on the year; and sales fell 0.9 percent for food, alcohol and tobacco on a monthly basis and fell 4.6 percent on a year-over-year basis.As for economic sentiment, in December, the Economic Sentiment Indicator rose for the second month in both the EU, by 1.5 points to 94.2, and the euro area, by 1.8 points to 95.8, but remained below the long-term average.The employment expectations indicator remained broadly stable, well above the long-term average, falling only 0.4 points to 105.9 in the EU and remaining unchanged at 107.3 in the euro area.In Milan, on the main list of Piazza Affari, Stellantis is down 0.6 percent. The company reaffirmed its commitment to grow its data and connected services offering by launching Mobilisights, a new independent business unit.Its new offering, Mobilisights, is designed to grow the company's data as a service business and develop and license business-to-business products, applications and services.The new unit will leverage Stellantis' connected vehicle data, which is expected to reach 34 million by 2030.Hera rises 1.2 percent after announcing Thursday EUR150 million in district heating investments from 2023-2026.Of these, three Hera Group projects dedicated to district heating -- in Bologna, Ferrara, and Forlì -- have been awarded funding under the National Recovery and Resilience Plan, "Green Revolution and Ecological Transition" mission, totaling nearly EUR50 million.Terna is in the green by 0.5 percent after signing an agreement to acquire 100 percent of the capital of Edyna Transmission, an Alperia Group company dedicated to the transmission sector, which owns 34 km of high-voltage power lines and two power stations in South Tyrol.The assets are already part of the national electricity transmission grid and were taken over by Terna for a total value of about EUR14 million. The deal is subject to the fulfillment of certain conditions precedent. Moncler, on the other hand, falls 0.5 percent, with Bernstein raising the targer price to EUR60.00 from EUR54.00.On the Mid-Cap, PharmaNutra is down 1.3 percent. The company announced the signing of three new international commercial agreements for the distribution of products from the SiderAL and Cetilar lines in the Indonesian Republic, Kuwait, and Mexico.With the signing of these new contracts, PharmaNutra Group currently has 47 distributors in 70 countries across Europe, Asia, Latin America and Africa.Taking the top spot is Carel Industries, up 1.8 percent. The company on Wednesday made it known that it no longer qualifies as an "SME," Small and Medium Enterprise.Same fate for GVS, however, which sits at the tail end of the list and gives up 1.8 percent.On the Small-Cap, Aeroporto Guglielmo Marconi Di Bologna is flat after making it known that in 2022 air traffic performance has been gradually improving, starting in the spring, with the end of the emergency phase and travel restrictions.Specifically, at the Airport, monthly passenger figures went from minus 51 percent in January 2022 over January 2019 to plus 2.4 percent in June 2022 over June 2019, with figures rising throughout the summer season, then falling back in the last two months of the year.Cellularline - up 1.0 percent - reported Thursday that the average monthly price of its common shares for the month of December 2022, was EUR2.9878.Given that the average monthly price of Cellularline's common shares is below the strike price of EUR9.50, the warrants are not exercisable during January 2023.Civitanavi Systems is up 0.9 percent. The company announced that it has signed a ruling agreement with the Internal Revenue Service that will allow the company to have access to the Patent Box tax benefit for intellectual property for patents and know-how.The tax benefit for the five-year period 2017-2021 will be accounted for in the fiscal year 2022 and the quantification will take place when preparing the financial statements.Among SMEs, Clabo rises 4.7 percent after gaining 22 percent at the close on Thursday and after letting it be known on Wednesday that U.S. subsidiary Howard McCray has concluded two commercial agreements worth a total of USD750,000, or EUR710,000, with 2 retail chains operating within the HoReCa channel.Circle rises 1.3 percent. On Monday, the company announced that it has signed a new contract through the Log@Sea business network to supply advanced Gate Automation solutions to a leading Tyrrhenian multipurpose terminal.Bifire does not trade after reporting Thursday that it purchased 17,500 of its own ordinary shares between Jan. 2 and Jan. 5.The shares were taken over at an average price per unit of EUR2.6234, for a total countervalue of just over EUR45,909.90.In New York on Thursday, the Dow Jones closed 1.0 percent in the red at 32,930.08, the S&P gave up 1.2 percent to 3,808.10, and the Nasdaq left 1.5 percent at 10,305.24 on the parterre. Among currencies, the euro changed hands at USD1.0514 versus USD1.0525 at Thursday's close. In contrast, the pound is worth USD1.1857 from USD1.1897 last night.Among commodities, Brent crude is worth USD79.19 a barrel from USD78.14 a barrel last night. Gold, on the other hand, trades at USD1,841.60 an ounce from USD1,826.70 an ounce Thursday night.Friday's macro calendar includes, from the US, a focus on December nonfarm payrolls, coming in at 1430 CET, the same time as the unemployment rate. At 1600 CET, it will be the turn of factory orders and durable goods data. At 1900 CET, close the day with Baker Hughes drilling rig data.By Claudia Cavaliere, Alliance News reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/BKR/2023.01.06/Stock markets up ahead of Eurozone CPI flash data.txt b/news/BKR/2023.01.06/Stock markets up ahead of Eurozone CPI flash data.txt new file mode 100644 index 0000000000000000000000000000000000000000..f30e4cb785640fd55c30eee240bfc5037ad1420a --- /dev/null +++ b/news/BKR/2023.01.06/Stock markets up ahead of Eurozone CPI flash data.txt @@ -0,0 +1 @@ +(Alliance News) - On Friday, major European stock markets confirm expectations and open in positive territory -- with the exception of Frankfurt -- as they look ahead to flash data on the consumer price index for the Eurozone expected mid-morning.Thus, the FTSE Mib is in green by 0.1 percent at 24,863.08, the Mid-Cap is down by 0.1 percent at 40,589.71, the Small-Cap is in fractional green at 28,322.14, while Italy Growth is in fractional red at 9,388.00.In Europe, Paris' CAC 40 rises 0.1 percent, London's FTSE 100 gains 0.3 percent, while Frankfurt's DAX 40 is down 0.1 percent."The start of 2023 has been generally positive for European markets, as optimism that inflation has peaked, coupled with falling oil and gas prices, suggests that central banks may not be forced to tighten as aggressively as feared in late 2022," commented Michael Hewson, chief market analyst at CMC Markets."Today's EU flash CPI for December could add further fuel to the inflation spike narrative if, as expected, headline inflation falls to 9.5 percent from the 10.1 percent recorded in November, although a pickup in core data would somewhat mitigate this."In macroeconomic news, factory orders in Germany slumped 5.3 percent monthly in November 2022, after a downwardly revised 0.6 percent growth in October, doing worse than market forecasts of a 0.5 percent drop, recording the largest decline since October 2021. In addition, as for retail sales in Germany, these increased by 1.1 percent monthly in November 2022, after a 2.8 percent decline in October and compared to market forecasts of a 1 percent increase. From Japan, the services sector ended the year with further expansion in output and orders, according to data provided Friday by S&P Global.Bank au Jibun's services activity index rose to 51.5 in December from 50.3 in November.In Milan, on the main list of Piazza Affari, ERG rose 0.4 percent as did Snam after the latter reported Tuesday that natural gas inventories as of Dec. 31, 2022 in its subsidiary Stogit's storage facilities amounted to 9.3 billion cubic meters, plus 4.5 billion cubic meters of strategic storage.This is about 2.6 billion more than the storage of 6.7 billion cubic meters recorded at the end of December 2021.Stellantis, down 1.4 percent, said Thursday that it will "significantly expand" its partnership with Archer Aviation -- a California-based company that markets electric vertical takeoff and landing aircraft -- after joining forces to produce Archer's Midnight eVTOL aircraft.Stellantis has also agreed to provide up to USD150 million in equity for potential drawdown by Archer, at its discretion, in 2023 and 2024.Hera rises 1.1 percent after announcing Thursday EUR150 million in district heating investments over the 2023-2026 period.Of these, three Hera Group projects dedicated to district heating -- in Bologna, Ferrara, and Forlì -- have been awarded funding under the National Recovery and Resilience Plan, mission "Green Revolution and Ecological Transition," totaling nearly EUR50 million.Terna is in the green by 0.5 percent after signing an agreement to acquire 100 percent of the capital of Edyna Transmission, an Alperia Group company dedicated to the transmission sector, which owns 34 km of high-voltage power lines and two power stations in South Tyrol.The assets are already part of the national electricity transmission grid and were taken over by Terna for a total value of about EUR14 million. The deal is subject to the fulfillment of certain conditions precedent. Moncler, on the other hand, falls 0.5 percent, with Bernstein raising the targer price to EUR60.00 from EUR54.00.On the Mid-Cap, PharmaNutra still does not trade. The company announced the signing of three new international commercial agreements for the distribution of products from the SiderAL® and Cetilar® lines in the Indonesian Republic, Kuwait, and Mexico.With the signing of these new contracts, the PharmaNutra Group currently has 47 distributors in 70 countries across Europe, Asia, Latin America and Africa.Webuild is flat. The company announced that in the week of Dec. 28-30, 2022, inclusive, it purchased 40,500 of its own common shares.On the Small-Cap, BasicNet rises 1.3 percent. The company disclosed Friday that it purchased 16,500 shares of its own common stock between Dec. 27 and Dec. 30. As of today, the company holds 3.9 million of its own shares, or 7.2 percent of its share capital.Civitanavi Systems is in the black by 0.7 percent. The company announced that it has signed a ruling agreement with the Internal Revenue Service that will allow the company to have access to the Patent Box tax benefit for intellectual property for patents and know-how.The tax benefit for the five-year period 2017-2021 will be accounted for in the fiscal year 2022 and the quantification will take place when preparing the financial statements.Among SMEs, Clabo gives up 0.5 percent after gaining 22 percent at the close on Thursday and after announcing on Wednesday that U.S. subsidiary Howard McCray has concluded two commercial agreements worth a total of USD750,000, or EUR710,000, with 2 retail chains operating within the HoReCa channel.The two trade agreements refer to deliveries to be made in the year 2023 regarding products in the "Dairy - Multipurpose" line.Circle rises 1.3 percent. On Monday, the company announced that it has signed a new contract through the Log@Sea business network to supply advanced Gate Automation solutions to a leading Tyrrhenian multipurpose terminal."The order, the value of which exceeds EUR145,000, involves the implementation of a complete project of specialized hardware components and Milos software for the management of gate access control procedures for vehicles and Intermodal Transport Units. The topical moment and market confidence in the solutions behind our Connect 4 Agile Growth plan are confirmed," explained President and CEO, Luca Abatello.Pharmacosmo is in the red by 2.6 percent. The company reported Wednesday that the CEO, Fabio de Concilio, bought more than 26,500 shares of the company's common stock.In Asia, the Nikkei closed in the green 0.6 percent to 25,973.85, the Shanghai Composite rose 0.1 percent to 3,157.64, and the Hang Seng closed in the red 0.3 percent to 20,991.64.In New York on Thursday, the Dow Jones closed 1.0 percent in the red at 32,930.08, the S&P gave up 1.2 percent to 3,808.10, and the Nasdaq left 1.5 percent on the sidelines at 10,305.24. Among currencies, the euro changed hands at USD1.0520 versus USD1.0525 at Thursday's close. In contrast, the pound is worth USD1.1891 from USD1.1897 last night.Among commodities, Brent crude is worth USD78.95 per barrel from USD78.14 per barrel last night. Gold, on the other hand, trades at USD1,842.45 an ounce from USD1,826.70 an ounce Thursday night.Friday's macro calendar includes a slot for the UK construction PMI at 1030 CET, half an hour before consumer and business confidence, retail sales, and Eurozone inflation.From the US, focus on December nonfarm payrolls, coming at 1430 CET, the same time as the unemployment rate. At 1600 CET, it will be the turn of factory orders and durable goods data. At 1900 CET, close the day with Baker Hughes drilling rig data.Among companies in the Piazza Affari, no particular major events are expected.By Claudia Cavaliere, Alliance News reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/BKR/2023.01.06/U.S. drillers cut most rigs in a week since Sept. 2021 - Baker Hughes.txt b/news/BKR/2023.01.06/U.S. drillers cut most rigs in a week since Sept. 2021 - Baker Hughes.txt new file mode 100644 index 0000000000000000000000000000000000000000..3fd21a5b646e061d148e8715d5f0d64ed172cc7c --- /dev/null +++ b/news/BKR/2023.01.06/U.S. drillers cut most rigs in a week since Sept. 2021 - Baker Hughes.txt @@ -0,0 +1,19 @@ +Jan 6 (Reuters) - U.S. energy firms this week cut seven +oil and natural gas rigs in their biggest weekly decline since +September 2021, energy services firm Baker Hughes Co +said in its closely followed report on Friday.The U.S. oil and gas rig count, an early indicator of future +output, fell by seven to 772 in the week to Jan. 6, the lowest +since November. U.S. oil rigs fell three to 618 this week, their lowest +since November, while gas rigs dropped by four to 152, their +lowest since June.U.S. oil futures were down about 7% this week in +their worst start to the year since 2016. It had gained about 7% +in 2022.The shale oil patch closed the door ona disappointing yearwhile bracing for weaker output gains in 2023, hamstrung by +rising costs, dwindling reserves and pressures to hold down +spending.U.S. oil production last year was forecast to have risen +by an average of 620,000 barrels per day, according to the +latest government estimates, a third less than the roughly 1 +million bpd some forecasts called for at the start of the year. +That shortfall has undercut shale's influence on global markets +and helped lift prices for the second year in a row. +(Reporting by Scott DiSavino +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/BKR/2023.01.08/Oil nudges higher after China opens borders, lifts fuel demand outlook.txt b/news/BKR/2023.01.08/Oil nudges higher after China opens borders, lifts fuel demand outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..2f21e4a01d6e4108285fe4ea14b9dbd35afa8f83 --- /dev/null +++ b/news/BKR/2023.01.08/Oil nudges higher after China opens borders, lifts fuel demand outlook.txt @@ -0,0 +1 @@ +Brent crude futures had risen 53 cents, or 0.7%, to $79.10 a barrel by 0114 GMT while U.S. West Texas Intermediate crude was at $74.23 a barrel, up 46 cents, or 0.6%.Hopes for less-aggressive U.S. interest rate rises are buoying financial markets and depressing the dollar. A weaker greenback makes dollar-denominated commodities more affordable for investors holding other currencies.Both Brent and WTI tumbled more than 8% last week, their biggest weekly dives at the start of a year since 2016."Crude oil futures had their biggest weekly losses in a month due to recession fears as oil prices have been positively correlated with inflation since 2022, though China's reopening may buffer the decline in the near term," CMC Markets analyst Tina Teng said in a note.China, the world's second-biggest oil consumer, opened its borders on Saturday for the first time in three years, buoying the outlook for its demand for transportation fuels.Domestically, some 2 billion trips are expected during the Lunar New Year season, nearly double last year's movement and recovering to 70% of 2019 levels, Beijing says.However, concerns remain that the massive flow of travellers may cause another surge in infections and cap recovery in China's economic activity.Energy futures for crude oil, refined products and natural gas have plummeted in the New Year as traders have reconsidered near-term worries over cold weather and fears of supply shortages and dumped contracts.Last week, U.S. energy firms cut the number of operating oil and natural gas rigs by seven, the biggest weekly decline since September 2021, energy services firm Baker Hughes Co said on Friday. (Reporting by Florence Tan; Editing by Bradley Perrett)By Florence Tan \ No newline at end of file diff --git a/news/BKR/2023.01.13/U.S. drillers add oil and gas rigs for first time in three weeks - Baker Hughes.txt b/news/BKR/2023.01.13/U.S. drillers add oil and gas rigs for first time in three weeks - Baker Hughes.txt new file mode 100644 index 0000000000000000000000000000000000000000..a3d95e4dd8cff348e0116795415dca741e93b234 --- /dev/null +++ b/news/BKR/2023.01.13/U.S. drillers add oil and gas rigs for first time in three weeks - Baker Hughes.txt @@ -0,0 +1,20 @@ +Jan 13 (Reuters) - U.S. energy firms this week added oil +and natural gas rigs for the first time in three weeks, energy +services firm Baker Hughes Co said in its closely +followed report on Friday.The oil and gas rig count, an early indicator of future +output, rose three to 775 in the week to Jan. 13. + Baker Hughes said that puts the total rig count up 174, +or 29%, over this time last year.U.S. oil rigs rose five to 623 this week, in their +biggest build since November, while gas rigs fell two to 150, +their lowest since May.U.S. oil futures were down about 1% so far this +year after gaining about 7% in 2022.The U.S. Energy Information Administration this week raised +its forecast for crude output growth.U.S. crude production was on track to rise from 11.9 million +barrels per day (bpd) in 2022 to 12.4 million bpd in 2023 and +12.8 million bpd in 2024, according to the EIA. That compares +with a record 12.3 million bpd in 2019.However, shale producer EOG Resources Inc last week +said it anticipates its activity in the Permian Basin, the +largest U.S. oilfield, to be flat this year, as supplies and +equipment remain expensive and as it focuses on shareholder +returns. +(Reporting by Scott DiSavino +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/BKR/2023.01.19/Oil settles up more than 1% on China demand outlook, second weekly gain.txt b/news/BKR/2023.01.19/Oil settles up more than 1% on China demand outlook, second weekly gain.txt new file mode 100644 index 0000000000000000000000000000000000000000..6f563712f935ce543be6b7fc9d270684abea2483 --- /dev/null +++ b/news/BKR/2023.01.19/Oil settles up more than 1% on China demand outlook, second weekly gain.txt @@ -0,0 +1,41 @@ +*OPEC and IEA forecast growing Chinese oil demand in 2023*Hopes for Fed downshift on interest rate hikes also +support*U.S. oil rig count falls by most since Sept 2021 - Baker +Hughes*Market shrugs off large increase in U.S. crude inventoriesNEW YORK, Jan 20 (Reuters) - Oil settled up about $1 a +barrel on Friday and notched a second straight weekly gain as +China's economic prospects brightened, boosting expectations for +fuel demand in the world's second-biggest economy.China's lifting of COVID-19 restrictions should bring global +demand to a record high this year, the International Energy +Agency (IEA) said on Wednesday, a day after OPEC also forecast a +Chinese demand rebound.Brent crude settled at $87.63 a barrel, up $1.47, or +1.7%. U.S. crude settled at $81.31 a barrel, gaining 98 +cents, or 1.2%."Many traders believe it is highly likely that we are going +to see higher demand coming from China as it continues to +dismantle its COVID policies," said Naeem Aslam, analyst at +broker Avatrade.For the week, Brent logged a 2.8% increase and the U.S. +benchmark saw a 1.8% rise.Oil was also supported by hopes that the U.S. Federal +Reserve will soon downshift to smaller interest rate hikes, +which could brighten the U.S. economic outlook.A Reuters poll predicted the Fed will end its tightening +cycle after increases of 25 basis points at each of its next two +policy meetings and should then hold rates steady for at least +the rest of the year.Chances of a "soft landing" for the U.S. economy appear to +be growing, Federal Reserve Vice Chair Lael Brainard said on +Thursday. The Fed's next rate-setting meeting is over Jan. 31 to +Feb. 1.Also helping oil prices, Baker Hughes Co said the +U.S. oil rig count fell 10 to 613, its lowest since November.The world's two largest economies need more crude, said +Edward Moya, senior market analyst at OANDA."The oil market has been down on global recession fears, but +it is still showing signs it can remain tight a little while +longer," he said.Oil rose despite U.S. inventory figures this week showing +crude stockpiles rose by 8.4 million barrels in the week to Jan. +13 to about 448 million barrels, the highest since June 2021.A tapering off of sales from the U.S. Strategic Petroleum +Reserve helped reverse negative sentiment from the report and +push oil prices, said Andy Lipow, president of Lipow Oil +Associates in Houston.A price cap on Russian oil, which has been rippling through +the global market, is helping to boost crude prices, said Jim +Ritterbusch of consultancy Ritterbusch and Associates."Sanctions and caps on Russian crude are gradually acquiring +some price impact and will become more of a bullish factor when +last month's influx of Russian crude cargoes is absorbed into +the global market," Ritterbusch said.Russia was China's second-largest crude supplier in 2022, +while Saudi Arabia took the top spot. +(Additional reporting by Noah Browning, Alex Lawler, Sudarshan +Varadhan and Arathy Somasekhar; editing by Diane Craft, Kirsten +Donovan and David Gregorio) \ No newline at end of file diff --git a/news/BKR/2023.01.19/SLB wins Russia business as oilfield rivals exit after Ukraine invasion.txt b/news/BKR/2023.01.19/SLB wins Russia business as oilfield rivals exit after Ukraine invasion.txt new file mode 100644 index 0000000000000000000000000000000000000000..08ce360ade233bf71b18cfaa280abc36222b9b9a --- /dev/null +++ b/news/BKR/2023.01.19/SLB wins Russia business as oilfield rivals exit after Ukraine invasion.txt @@ -0,0 +1 @@ +While SLB's continued embrace of Russia has drawn sharp criticism, interviews with two people close to the company and industry sources, as well company documents reviewed by Reuters show SLB's decision to help Russia increase oil and gas production with its services and drilling equipment has paid off. For example, SLB's Russia and Central Asia reservoir performance division in the third quarter of 2022 grew revenue by 25% over the prior quarter. That outpaced growth of 12% and 11% for its Asia and Middle East and North Africa regions, respectively, according to one of half a dozen documents viewed by Reuters.The company also expects to report record results for the fourth quarter for its Russian reservoir performance division, according to a separate presentation viewed by Reuters. SLB, which changed its name from Schlumberger last October, did not respond to several requests for interviews or written questions for this story. The company said in March that, while it is continuing operations in Russia, it has halted new investments there. SLB has not likely fallen afoul of U.S. and European sanctions prohibiting financial transactions with Russia, in part because measures taken against Russia's energy sector are not meant to fully curtail oil production, according to sanctions experts interviewed by Reuters. "The Russian energy sector is not subject to comprehensive sanctions, and with care, companies can comply with prohibitions or restrictions that may apply to certain transactions," said Peter Kucik, a managing director with Mercury Public Affairs and a former official with the U.S. Office of Foreign Assets Control, a unit of the Treasury Department that administers sanctions. "Trading with Russia is financing aggression, murder of civilians and destruction of peaceful cities," said a spokesperson for Ukraine's embassy in Washington, D.C. in response to a question about SLB's operations in Russia. The Business & Human Rights Resource Centre, an international organization that monitors corporate responses to human rights issues, has warned the firm risks being pulled into the war efforts with Russia's military mobilization. Companies working in Russia must take steps to "mitigate the increased risk of contributing, or being directly linked, to the armed conflict," said Ella Skybenko, a senior researcher at that organization. She pointed to SLB's compliance with Russia's military mobilization as an example of being complicit in the conflict.SLB did not respond to requests for comment. Russia's Ministry of Energy and the Russian embassy in Washington, D.C. did not respond to a request for comment. In the months since Russia invaded Ukraine, scores of western companies have shuttered or sold their operations there to avoid running afoul of sanctions or avoid the appearance of aiding Vladimir Putin's war. Others have suspended investment or operations, while some remain in Russia.RUSSIA UNIT GROWSBy contrast, SLB added around 70 employees in Russia in late 2022, including personnel to its key accounts such as Gazprom and Rosneft, according to two sources familiar with the matter who cited this as a sign that its business there is not slowing down.The Curacao-registered company is a major foreign employer in Russia with some 10,000 employees, or around 10% of its global workforce, spread across Russia and neighboring Kazakhstan, where it has also posted sales increases. Russia accounted for 6%, or $1.21 billion, of SLB's total revenue in the first nine months of last year, according to a regulatory filing, up from 5% before the invasion of Ukraine. Business there is further slated to ramp up this summer, according to a source and company documents.One reason SLB is finding new success in Russia is that rivals have exited the region. Halliburton Co and Baker Hughes Co sold their businesses in recent months. The companies did not specify the reason for selling.SLB's regional unit that includes Russia saw revenue grow by 45% between the first and third quarters of 2022, while a similar unit at Halliburton experienced a 6% decline, according to regulatory filings. Halliburton said in September it sold its business to a Russia-based management team made up of former Halliburton employees. It now operates under the name BurService LLC and is independent from Halliburton, the company said. Baker Hughes and Halliburton declined to comment. Weatherford, a smaller competitor remains, but its participation in the industry is diminishing as it has terminated some existing contracts that SLB has been able to pick up, a source working in Russia told Reuters. Reuters was unable to determine how many contracts SLB has gained.SLB is also in line to be the exclusive provider of directional drilling for a major Russian gas project, a source said. "The message from HQ is to take mostly exclusive contracts with high revenue," said a SLB employee involved in the business wins. With fewer rivals, SLB has been able to receive price increases and better terms and conditions, the source, who is not authorized to speak to the press, said. Weatherford declined to comment for this story.PAST VIOLATIONSRussia's output has defied predictions of a steep decline, and for January through November of last year rose by 2.2% from year-ago levels, averaging 10.91 million bpd of oil and gas condensate production, Reuters reported last year, citing Russian media. Countries like India, China and Pakistan are buying Russian oil at steep discounts, while production at the Sakhalin-1 project, which was operated by Exxon Mobil Corp before it exited after the Ukraine invasion, is nearing a return to full capacity. SLB is currently a contractor on that Russian Far East mega-project, and is anticipating more business in 2023, including work to help produce more natural gas at the Sakhalin-3 project, according to a recent presentation viewed by Reuters. The company continued to work there in 2014 after the U.S. slapped sanctions on Rosneft, a partner in the project. SLB has previously violated government sanctions imposed on countries where it operates. In 2015, a unit of SLB pleaded guilty to violating sanctions related to Iran and Sudan, paying a $237.2 million fine to the U.S. Justice Department. In a 2015 statement, the company said it "cooperated with the investigation" and was "satisfied that this matter is finally resolved." In 2021, SLB paid $1.4 million for violations of Ukraine-related sanctions by its subsidiary Cameron International Corp for providing services to Russian energy firm Gazprom-Neft Shelf. (Reporting by Liz Hampton in Denver; Editing by Anna Driver and Gary McWilliams)By Liz Hampton \ No newline at end of file diff --git a/news/BKR/2023.01.20/Baker Hughes : Fourth Quarter 2022 Earnings Conference Call Prepared Remarks.txt b/news/BKR/2023.01.20/Baker Hughes : Fourth Quarter 2022 Earnings Conference Call Prepared Remarks.txt new file mode 100644 index 0000000000000000000000000000000000000000..0041d472f865b9106de5f92a8d82f35a834fc791 --- /dev/null +++ b/news/BKR/2023.01.20/Baker Hughes : Fourth Quarter 2022 Earnings Conference Call Prepared Remarks.txt @@ -0,0 +1,215 @@ + + + + Baker Hughes Fourth Quarter 2022 - Earnings Conference Call Prepared Remarks + + + Fourth Quarter 2022 - Earnings Conference Call Prepared Remarks + + +Jud Bailey Baker Hughes - VP of Investor Relations + + + Thank you. + + + Good morning everyone, and welcome to the Baker Hughes Fourth Quarter 2022 Earnings Conference Call. Here with me are our Chairman and CEO, Lorenzo Simonelli; and our CFO, Nancy Buese. The earnings release we issued earlier today can be found on our website at bakerhughes.com. + + + As a reminder, during the course of this conference call, we will provide forward-looking statements. These statements are not guarantees of future performance and involve a number of risks and assumptions. Please review our SEC filings and website for a discussion of the factors that could cause actual results to differ materially. + + + As you know, reconciliations of operating income and other GAAP to non-GAAP measures can be found in our earnings release. + + + With that I will turn the call over to Lorenzo. + + +Lorenzo Simonelli Baker Hughes - Chairman & CEO + + + Thank you, Jud. Good morning everyone and thanks for joining us. + + + I would like to start off by highlighting a couple of changes for this earnings call. For the first time, we are hosting our earnings call from Florence, Italy, where we will host our Board meeting later this week and welcome over 2,000 customers and industry experts next week at our Annual Meeting. We will also be using a presentation during this webcast, which has also been published on our investor website, that we will reference over the course of our prepared remarks. + + + As you can see on slide 4, we were very pleased to end 2022 with solid momentum across our two business segments. In the fourth quarter, we saw continued margin improvement in our OFSE segment and an extremely strong level of orders for IET, which was driven by multiple awards across different end markets. + + + 2022 was an important year for Baker Hughes on a number of fronts. Strategically, we took a large step forward in re-shaping the company as we announced a formal restructuring and re- segmentation of Baker Hughes into two business segments. This kicked off a major transformation effort across the organization, including key executive management changes, which will fundamentally improve the way the company operates. + + + 1 + + + + + Baker Hughes Fourth Quarter 2022 - Earnings Conference Call Prepared Remarks + + + Operationally, our performance for the year was mixed. During the first half of the year, we experienced multiple headwinds across our organization, as well as a number of operational challenges. While our performance improved over the second half, we still have more work to do and are focused on various initiatives to improve shorter-term execution and meet the longer-term financial objectives we laid out at an investor conference last September. + + + Commercially, orders performance in LNG and New Energy hit new highs and are poised to remain strong into 2023. In 2022, we booked almost $3.5 billion in LNG equipment orders, our highest ever, and booked over $400 million in New Energy orders, showing over 50% growth versus 2021. + + + Although not yet back to previous historical levels, orders for our offshore-exposed businesses also accelerated. Within OFSE, SSPS booked over $3 billion in orders in 2022, representing 36% growth versus 2021. In IET, Onshore/Offshore Production recorded equipment orders of almost $1.9 billion in 2022. + + + We are also seeing improvements in our industrial segments with Industrial Technology orders of $3.3 billion in 2022, up 6% year-over-year. + + + As we look ahead to 2023, we expect order momentum to continue across both OFSE and IET despite what is likely to be a mixed macro environment. + + + Turning to slide 5, in 2023, the global economy is expected to experience some challenges under the weight of inflationary pressures and tightening monetary conditions. Despite recessionary pressures in some of the world's largest economies, we maintain a positive outlook for the energy sector. With years of under investment now being amplified by recent geopolitical factors, global spare capacity for oil and gas has deteriorated and will likely require years of investment growth to meet forecasted future demand. + + + For this reason, we continue to believe that we are in the early stages of a multi-year upturn in global activity and are poised to see a second consecutive year of solid double-digit increases in global upstream spending in 2023. In addition to strong growth in traditional oil and gas spending, we also believe that the Inflation Reduction Act in the US and potential new legislation in Europe will support significant growth opportunities in New Energy in 2023 and beyond. + + + We also remain positive on the near term and long-term prospects for the natural gas and LNG investment cycle. Near term, we believe that the likely reopening of China, combined with Europe's need to refill gas storage supplies, will play a critical role in keeping global gas and LNG markets tight. Longer-term, we remain optimistic on the structural growth outlook for natural gas and LNG as the world looks to lower emissions and displace the consumption of coal. + + + While cost inflation and higher interest rates slowed the pace of new LNG FIDs in 2022, we are seeing progress on a number of fronts. We continue to expect significant growth in new project sanctions in 2023, with elevated activity levels likely continuing into 2024. Following 36 MTPA of LNG FIDs in 2022, we continue to expect to see an additional 65 to 115 MTPA of LNG projects reach FID in 2023. + + + Just as important as the near-term outlook for LNG orders, we are now gaining visibility into new project opportunities that are developing towards the middle of the decade. Most notably, we are seeing progress on a number of brownfield initiatives and advancements in new modular concepts that is likely to extend the current wave of activity several more years. + + + 2 + + + + + Baker Hughes Fourth Quarter 2022 - Earnings Conference Call Prepared Remarks + + + Turning to slide 6, given this macro backdrop, Baker Hughes is intensely focused on four key areas in 2023 in order to drive future value for shareholders. + + + First, we are well positioned to capitalize on the significant growth opportunities that are building across both business segments. These opportunities reach across the entire OFSE portfolio, as well as in IET, most notably in LNG, Onshore/Offshore Production, and New Energy. + + + Second, we remain focused on optimizing our corporate structure and transforming the Baker Hughes organization to drive improvements in our margin and returns profile. While we are still in the early stages of this process, we are increasingly confident in driving at least $150 million of cost-out by the end of 2023 as well as structural changes that will simplify the organization and enhance our operational efficiency. + + + The cost-out and integration initiatives we are undertaking over the next 12 to 18 months will play a key role in hitting our EBITDA margin targets of 20% in OFSE and IET over the next two to three years, and delivering Return on Invested Capital of 15% and 20%, for OFSE and IET respectively. + + + Third, we continue to develop our portfolio of new energy technologies. We have been particularly active over the last few years acquiring and investing in multiple new technologies around hydrogen, carbon capture, clean power, and geothermal. We are now transitioning more towards the incubation of the existing portfolio. This will enable our new energy portfolio to achieve its full commercial potential, with a particular focus on high impact technologies like NET Power and Mosaic. + + + Finally, we will continue to focus on all these initiatives and while also generating strong free cash flow and returning 60% to 80% of this to shareholders through a combination of share buybacks and dividends. + + + In 2022, we increased our dividend for the first time since 2017. Going forward, our goal is to continue to increase shareholder returns with an emphasis on continuing to grow the dividend as the IET business experiences broader structural growth in revenue and earnings. + + + Turning to slide 7, I will provide an update on each of our segments. + + + In Oilfield Services and Equipment, the outlook remains promising with growth trends shifting more in favor of international and offshore markets, while North America activity levels off. Importantly, the team continues to execute well as supply chain pressures moderate and the pricing environment remains favorable. + + + Geographically, the Middle East retains the most promising outlook with activity scheduled to increase in multiple countries this year and likely next year. In Latin America and West Africa, offshore activity is driving growth in several countries and creating opportunities across our diverse portfolio. In North America, visibility remains limited given the current oil and gas price environment, and generally expect range bound activity from current levels over the course of 2023. + + + Within our OFSE product lines, we have seen strong growth for Well Construction, driven by opportunities across our drilling portfolio, and for CIM, where our completions portfolio continues to see solid improvement. + + + 3 + + + + + Baker Hughes Fourth Quarter 2022 - Earnings Conference Call Prepared Remarks + + + In Production Solutions, we saw strong volume growth and margin improvement in our chemicals business throughout the year as supply chain constraints continue to ease and profitability normalizes. For 2023, we expect further improvement in our chemicals business as margin levels normalize back to historical levels and our Singapore plant becomes fully operational. + + + Our legacy OFS segment executed well in the fourth quarter, and we were pleased to see them achieve 19.6% EBITDA margins, and 20% when normalizing for the impact of Russia. + + + In SSPS, order activity remains strong as offshore activity continues to pick up. Importantly, we saw good order traction in both subsea trees and Flexibles in the fourth quarter. After a record year in 2022 in Flexibles orders, we expect another strong year in 2023 as well as a significant increase in subsea trees awards. + + + We also continue to make progress on integrating SSPS into our OFSE segment, as well as restructuring the business to drive better profitability and returns. After a thorough review of the SSPS business, Maria Claudia and her team are finalizing plans to rationalize approximately 40% to 50% of the manufacturing capacity in Subsea Production Systems. These steps will be in addition to the cost savings gained from removing management layers and will largely come into effect in 2024. + + + For 2023, we expect OFSE to deliver double-digit revenue growth and solid improvement in margins as activity increases in multiple regions, inflationary pressures subside, we execute our cost-out program, and pricing remains favorable in most key markets. + + + Moving to IET, the fourth quarter generated record orders driven by multiple awards in LNG and multiple awards in Onshore/Offshore Production. Operationally, IET continues to navigate challenges in Gas Tech Services, as well as challenges in different parts of the supply chain, ranging from chips and circuit boards to gas engines, castings, and forgings. + + + Orders during the fourth quarter for Gas Technology illustrate the breadth and depth of its portfolio. + + + In LNG, we saw continued progress across our world-class franchise. During the quarter, we were pleased to be awarded another major order to provide an LNG system for the second phase of Venture Global's Plaquemines project. This order builds on an award in the third quarter of 2022 for another power island system. + + + Furthermore, this follows an award in the first quarter of 2022 for the first phase of Plaquemines and a similar contract for VG's Calcasieu Pass terminal in 2019, which are all part of a 70 MTPA master supply agreement. + + + In Onshore/Offshore Production, IET booked contracts for five different projects in Latin America and Sub-Saharan Africa worth almost $900 million on a combined basis. With these awards, IET maintains its leadership in the FPSO market by providing power generation systems, compression trains and pumps that totals more than 30 aeroderivative gas turbines, two steam turbines and 20 compressors of various sizes. + + + 4 + + + + + Baker Hughes Fourth Quarter 2022 - Earnings Conference Call Prepared Remarks + + + On the New Energy front, we were pleased to book an order from Malaysia Marine and Heavy Engineering to supply CO2 compression equipment to PETRONAS' Kasawari offshore carbon capture and sequestration project in Sarawak, Malaysia. The project is expected to be the world's largest offshore CCS facility, with capacity to reduce CO2 emissions by 3.3 MTPA. + + + Baker Hughes will deliver two trains of low-pressure booster compressors to enable CO2 removal through membrane separation technology, as well as two trains for reinjecting the separated CO2 into a dedicated storage site. + + + Orders in our Industrial Technology business continue to perform well with strong traction this quarter across Inspection and Pumps, Valves and Gears. In our Inspection business, we achieved significant commercial wins in the recovering aviation industry, including a record deal for visual inspection services in the Latin America region, as well as a number of orders for advanced ultrasonic testing systems with different customers in Asia Pacific. + + + In addition to solid growth in orders, we were pleased to see some signs of operational improvement in our Industrial Tech businesses, led by volume and margin increases in Condition Monitoring and Inspection. We expect this positive momentum to continue into 2023 as the chip shortage and supply chain issues start to abate and backlog convertibility recovers. + + + As we enter 2023, IET has a record backlog of $25 billion and a robust pipeline of new order opportunities in LNG, Onshore/Offshore, and New Energy, and we now expect IET orders in 2023 between $10.5 to $11.5 billion. Despite the supply chain challenges we are closely monitoring for both Gas Tech and Industrial Tech, we are well positioned to execute on this backlog to help drive significant revenue growth in 2023 and 2024. + + + While 2022 presented some unique challenges to Baker Hughes, it was also a pivotal year for us strategically and accelerated a number of changes in the organization. As we look at 2023 and beyond, I feel confident in the structural changes we are executing and our positioning to capitalize on the multi-year upstream spending cycle, the unfolding wave of LNG investment, and the acceleration in New Energy opportunities. + + + Across our entire enterprise, Baker Hughes is focused on significantly improving our margins and financial returns and meeting our customers' needs in a quickly changing energy landscape. Achieving these goals will require acute focus across the entire organization, as well as the depth and scale of global resources and engineering talent. + + + The culture of this company is unique in its diversity, its inclusiveness, and its principles, as well as its ability to adapt to change. Our team is focused on taking energy forward, transforming the way we operate, and achieving the margin and return targets we have laid out to help drive best- in-class shareholder value and returns. + + + With that, I will turn the call over to Nancy. + + + 5 + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Baker Hughes Company published this content on 20 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 January 2023 23:46:41 UTC. + + diff --git a/news/BKR/2023.01.20/Oilfield firm SLB beats Wall St. estimates for fourth-quarter profit.txt b/news/BKR/2023.01.20/Oilfield firm SLB beats Wall St. estimates for fourth-quarter profit.txt new file mode 100644 index 0000000000000000000000000000000000000000..bfeec38fc1664fff54dbe911b928a3b3f8bc2c7c --- /dev/null +++ b/news/BKR/2023.01.20/Oilfield firm SLB beats Wall St. estimates for fourth-quarter profit.txt @@ -0,0 +1 @@ +SLB had benefited from increased oil drilling and production activity in North America last year. The top oilfield services firm said revenue from North America rose 27% to $1.63 billion in the reported quarter.Average North America rig count, an early indicator of future output, for Oct-Dec 2022 quarter, rose to 965 from 720 a year earlier, according to data from Baker Hughes. Average international rig count for the quarter stood at 1,872, nearly 22% higher from the previous year."Looking ahead, we believe the macro backdrop and market fundamentals that underpin a strong multi-year upcycle for energy remain very compelling in oil and gas and in low-carbon energy resource," Olivier Le Peuch, SLB's Chief Executive Officer, said. Formerly called Schlumberger, the top oilfield services firm's net income excluding items stood at $1.03 billion, or 71 cents per share, for the three months ended Dec. 31, compared with analysts' estimate of 68 cents per share, according to Refinitiv data. (Reporting by Arunima Kumar in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/BKR/2023.01.20/U.S. oil rig count falls this week by most since Sept 2021 - Baker Hughes.txt b/news/BKR/2023.01.20/U.S. oil rig count falls this week by most since Sept 2021 - Baker Hughes.txt new file mode 100644 index 0000000000000000000000000000000000000000..84a0c29a79cb559119a97c313b0c9ba710efb177 --- /dev/null +++ b/news/BKR/2023.01.20/U.S. oil rig count falls this week by most since Sept 2021 - Baker Hughes.txt @@ -0,0 +1,33 @@ +Jan 20 (Reuters) - U.S. energy firms cut the most oil +rigs in a week since September 2021, energy services firm Baker +Hughes Co said in its closely followed report on Friday.Oil rigs fell 10 to 613, their lowest since November, while +gas rigs rose six to 156, in their biggest weekly rise since +February.The combined oil and gas rig count, an early indicator of +future output, fell four to 771 in the week to Jan. 20, the +lowest since November. +Despite this week's rig decline, Baker Hughes said the total +count was still up 167, or 28%, over this time last year.U.S. oil futures were up about 1% so far this +year after gaining about 7% in 2022.Oil output from top shale regions in the United States is +due to rise by about 77,300 barrels per day (bpd) to a record +9.38 million bpd in February, the U.S. Energy Information +Administration (EIA) said in its productivity report on Tuesday.However, that monthly increase would be the lowest since +June, with growth shrinking on weaker productivity per well and +as inflation cuts into oil companies’ production budgets.Overall, U.S. crude production was on track to rise from +11.9 million bpd in 2022 to 12.4 million bpd in 2023 and 12.8 +million bpd in 2024, according to EIA forecasts. That compares +with a record 12.3 million bpd in 2019.Olivier Le Peuch, chief executive at oilfield service +company SLB, formerly called Schlumberger, said he sees +onshore drilling activity in North America picking up as +companies look to rebuild drilled but uncompleted (DUC) +inventory.There "is a little bit of a shift to drilling to rebuild the +DUC inventory that will favor us in a month and a couple of +quarters to come before the usual plateauing or a moderation of +growth in the second half" of the year, Le Peuch said.The number of DUC wells in the seven biggest U.S. shale +basins fell to 4,521 in October 2022, the lowest in a month +since December 2013, according to federal data.The EIA said this week that producers drilled 1,011 wells in +the seven biggest U.S. shale basins in December 2022, the most +since March 2020. That helped boost total DUC wells in those +basins by 40 to 4,577 in December 2022, the most since August +2022. +(Reporting by Scott DiSavino +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/BKR/2023.01.22/Baker Hughes : Fourth Quarter 2022 Earnings Conference Call Slides.txt b/news/BKR/2023.01.22/Baker Hughes : Fourth Quarter 2022 Earnings Conference Call Slides.txt new file mode 100644 index 0000000000000000000000000000000000000000..5dc322894c01bd773a8e5e83d7286442abe9f57c --- /dev/null +++ b/news/BKR/2023.01.22/Baker Hughes : Fourth Quarter 2022 Earnings Conference Call Slides.txt @@ -0,0 +1,164 @@ + + + + + 4Q & FY 2022 Results + + + January 23, 2023 + + + + + Copyright 2023 Baker Hughes Company. All rights reserved. The information contained in this document is company confidential and proprietary property of Baker Hughes and its affiliates. It is to be used only for the benefit of Baker Hughes and may not be distributed, transmitted, reproduced, altered, or used for any purpose without the express written consent of Baker Hughes. + + + + + + + 2 + + + This presentation (and oral statements made regarding the subjects of this release) may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, (each a "forward-looking statement"). The words "anticipate," "believe," "ensure," "expect," "if," "intend," "estimate," "project," "foresee," "forecasts," "predict," "outlook," "aim," "will," "could," "should," "potential," "would," "may," "probable," "likely," and similar expressions, and the negative thereof, are intended to identify forward-looking statements. There are many + + + risks and uncertainties that could cause actual results to differ materially from our forward-looking statements. These + + + forward-looking statements are also affected by the risk factors described in the Company's annual report on Form 10-K for the period ended December 31, 2021 and those set forth from time to time in other filings with the Securities and Exchange Commission ("SEC"). The documents are available through the Company's website at: www.investors.bakerhughes.com or through the SEC's Electronic Data Gathering and Analysis Retrieval ("EDGAR") system at: www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statement. + + + The Company presents its financial results in accordance with GAAP; however, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. See the Appendix of this presentation for a reconciliation of GAAP to non-GAAP financial measures. + + + + + Copyright 2023 Baker Hughes Company. All rights reserved. + + + + + + Lorenzo Simonelli + + + Chairman & Chief Executive Officer + + + + + + + + + 4Q & FY 2022 RESULTS + + + + + 4 + + + + + + + + + + + + 4Q & FY 2022 Highlights + + + Continued OFSE margin improvement … legacy + + + OFS margins achieved 20% EBITDA target + + + Record IET orders of $4.3 billion in 4Q driven by + + + LNG, Onshore/Offshore, and New Energy + + + Initiated reorganization of Baker Hughes into + + +two leaner and more focused business segments + + + Increased the dividend to $0.19 per share and repurchased ~$100 million of common stock + + + Booked over $400M in New Energy orders, showing 50+% growth versus 2021 + + + + + Copyright 2023 Baker Hughes Company. All rights reserved. + + + Note: EBITDA is a non-GAAP measure - see earnings release and/or appendix for GAAP to non-GAAP reconciliations + + + + + + + MACRO OUTLOOK + + + Positive energy outlook for 2023, despite macro headwinds + + + Global economy likely weighed down by inflation and tightening monetary conditions + + + Global oil and gas spare capacity near historical lows… double digit upstream spending growth still anticipated in 2023 + + + China reopening + need to refill Europe's gas storage will keep LNG markets tight … supporting continued wave of project sanctions + + + Inflation Reduction Act and potential new EU legislation to support significant growth in New Energy investment + + + Copyright 2023 Baker Hughes Company. All rights reserved. + + + + + 5 + + + Early stages of multi- + + + year growth cycle in + + +energy … supported by underlying economics, security concerns and decarbonization goals + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Baker Hughes Company published this content on 22 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2023 14:57:04 UTC. + + diff --git a/news/BKR/2023.01.23/Baker Hughes : Q4 Earnings Snapshot.txt b/news/BKR/2023.01.23/Baker Hughes : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9969aa6efea3e1e423c668985dff124a8d32aa1 --- /dev/null +++ b/news/BKR/2023.01.23/Baker Hughes : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +HOUSTON (AP) _ Baker Hughes Co. (BKR) on Monday reported fourth-quarter earnings of $182 million.The Houston-based company said it had net income of 18 cents per share. Earnings, adjusted for one-time gains and costs, came to 38 cents per share.The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.The oilfield services company posted revenue of $5.91 billion in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $6.06 billion.For the year, the company reported that its loss widened to $601 million, or 61 cents per share. Revenue was reported as $21.16 billion.Baker Hughes shares have risen 5% since the beginning of the year. The stock has risen 14% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BKR at https://www.zacks.com/ap/BKRCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/BKR/2023.01.23/Baker Hughes Expects Q1 Revenue Between $5.3 Bln - $5.7 Bln.txt b/news/BKR/2023.01.23/Baker Hughes Expects Q1 Revenue Between $5.3 Bln - $5.7 Bln.txt new file mode 100644 index 0000000000000000000000000000000000000000..7578d41775be6a5b8ee7e28ad59b95db4a15b1d7 --- /dev/null +++ b/news/BKR/2023.01.23/Baker Hughes Expects Q1 Revenue Between $5.3 Bln - $5.7 Bln.txt @@ -0,0 +1,46 @@ +Jan 23 (Reuters) - Baker Hughes Co:* BAKER HUGHES SAYS INFLATION REDUCTION ACT AND POTENTIAL +NEW +LEGISLATION IN EUROPE WILL SUPPORT GROWTH OPPORTUNITIES IN NEW +ENERGY IN 2023 AND BEYOND* BAKER HUGHES SAYS POSITIVE ON NEAR-TERM AND LONG-TERM +PROSPECTS +FOR THE NATURAL GAS AND LNG INVESTMENT CYCLE* BAKER HUGHES SAYS REOPENING OF CHINA, COMBINED WITH +EUROPE'S +NEED TO REFILL GAS STORAGE SUPPLIES WILL KEEP GLOBAL GAS AND LNG +MARKETS TIGHT* BAKER HUGHES SAYS OILFIELD SERVICES AND EQUIPMENT (OFSE) +SEEING +GROWTH TREND IN FAVOR OF INTERNATIONAL WHILE NORTH AMERICA +ACTIVITY LEVELS OFF* BAKER HUGHES SAYS FOR 2023, EXPECT OFSE TO DELIVER +DOUBLE-DIGIT +REVENUE GROWTH* BAKER HUGHES WILL RATIONALIZE ROUGHLY 40% TO 50% OF SUBSEA +PRODUCTION SYSTEMS MANUFACTURING CAPACITY* BAKER HUGHES SAYS AS CO ENTERS 2023, INDUSTRIAL & ENERGY +TECHNOLOGY (IET) HAS A RECORD BACKLOG OF $25 BILLION* BAKER HUGHES EXPECTS IET ORDERS IN 2023 BETWEEN $10.5 +BILLION TO +$11.5 BILLION* BAKER HUGHES EXPECTS TO INVEST IN BOLT-ON M&A +OPPORTUNITIES THAT +CAN COMPLEMENT CURRENT BUSINESSES AS WELL AS IN NEW ENERGY* BAKER HUGHES EXPECTS Q1 REVENUE BETWEEN $5.3 BILLION - +$5.7 +BILLION* BAKER HUGHES EXPECTS Q1 ADJUSTED. EBITDA $700 MILLION - +$760 +MILLION* BAKER HUGHES EXPECTS FY 2023 REVENUE BETWEEN $24 BILLION - +$26 +BILLION* BAKER HUGHES EXPECTS FY 2023 ADJUSTED. EBITDA $3.6 BILLION +- +$3.8 BILLION* BAKER HUGHES ANTICIPATES NORTH AMERICA ACTIVITY TO REMAIN +RANGE-BOUND FOR THE YEAR* BAKER HUGHES EXPECTS Q1 IET REVENUE BETWEEN $1.9 BILLION - +$2.4 +BILLION* BAKER HUGHES EXPECTS Q1 OFSE ADJUSTED. EBITDA BETWEEN $515 +MILLION - $585 MILLION* BAKER HUGHES EXPECTS FY 2023 OFSE REVENUE BETWEEN $14.5 +BILLION +- $15.5 BILLION* BAKER HUGHES EXPECTS FY 2023 OFSE EBITDA BETWEEN $2.4 +BILLION - +$2.8 BILLION* BAKER HUGHES EXPECTS FY 2023 IET EBITDA BETWEEN $1.35 +BILLION - +$1.65 BILLION* BAKER HUGHES EXPECTS FY 2023 IET REVENUE BETWEEN $9.5 NLN +- +$10.5 BILLION* BAKER HUGHES EXPECTS INTERNATIONAL DRILLING AND COMPLETION +SPENDING TO LIKELY INCREASE IN MIDDLE DOUBLE DIGITS ON A +YEAR-OVER-YEAR BASIS* BAKER HUGHES EXPECTS NORTH AMERICA DRILLING AND COMPLETION +SPENDING GROWTH IN THE HIGH DOUBLE DIGITS IN 2023 DRIVEN BY COST +INFLATION +Source: Q4 Conference Call +Further company coverage: \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes anticipates north america activity to remain range-\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes anticipates north america activity to remain range-\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..6e162941b71a8ed9fda9080bea140213ce2ea01a --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes anticipates north america activity to remain range-\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES ANTICIPATES NORTH AMERICA ACTIVITY TO REMAIN RANGE-BOUND FOR THE YEAR \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects fy 2023 adj. ebitda $3.6 bln - $3.8 bln\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects fy 2023 adj. ebitda $3.6 bln - $3.8 bln\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c311ae68d5a5febca9d332807b66f7deb303c2ef --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects fy 2023 adj. ebitda $3.6 bln - $3.8 bln\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS FY 2023 ADJ. EBITDA $3.6 BLN - $3.8 BLN \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects fy 2023 iet ebitda between $1.35 bln - $1.6\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects fy 2023 iet ebitda between $1.35 bln - $1.6\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..feb75b5d61c64f67315e42e62df117dadc96953f --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects fy 2023 iet ebitda between $1.35 bln - $1.6\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS FY 2023 IET EBITDA BETWEEN $1.35 BLN - $1.65 BLN \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects fy 2023 iet revenue between $9.5 nln - $10.\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects fy 2023 iet revenue between $9.5 nln - $10.\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..2a0e858335bc4125603e12563a918375a5b910aa --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects fy 2023 iet revenue between $9.5 nln - $10.\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS FY 2023 IET REVENUE BETWEEN $9.5 NLN - $10.5 BLN \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects fy 2023 ofse ebitda between $2.4 bln - $2.8\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects fy 2023 ofse ebitda between $2.4 bln - $2.8\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..26e7f00500f24e3d07e1d4c18e8a011a8ba8db05 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects fy 2023 ofse ebitda between $2.4 bln - $2.8\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS FY 2023 OFSE EBITDA BETWEEN $2.4 BLN - $2.8 BLN \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects fy 2023 ofse revenue between $14.5 bln - $1\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects fy 2023 ofse revenue between $14.5 bln - $1\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c242b75b4f6c7ae765eb89080c69b705e14df600 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects fy 2023 ofse revenue between $14.5 bln - $1\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS FY 2023 OFSE REVENUE BETWEEN $14.5 BLN - $15.5 BLN \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects fy 2023 revenue between $24 bln - $26 bln\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects fy 2023 revenue between $24 bln - $26 bln\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..217b3c1a7eb10ddba95af3fccfd0b48c3e45fec4 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects fy 2023 revenue between $24 bln - $26 bln\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS FY 2023 REVENUE BETWEEN $24 BLN - $26 BLN \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects iet orders in 2023 between $10.5 billion to\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects iet orders in 2023 between $10.5 billion to\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..251e84a4ba81a5315e636400e264d0b5b2037980 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects iet orders in 2023 between $10.5 billion to\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS IET ORDERS IN 2023 BETWEEN $10.5 BILLION TO $11.5 BILLION \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects international drilling and completion spend\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects international drilling and completion spend\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..e6a7836b07aef17b230a5360aba6492084a63146 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects international drilling and completion spend\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS INTERNATIONAL DRILLING AND COMPLETION SPENDING TO LIKELY INCREASE IN MIDDLE DOUBLE DIGITS ON A YEAR-OVER-YEAR BASIS \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects north america drilling and completion spend\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects north america drilling and completion spend\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..34265e81a0a62a429b5863fb7876edd37faf6c50 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects north america drilling and completion spend\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS NORTH AMERICA DRILLING AND COMPLETION SPENDING GROWTH IN THE HIGH DOUBLE DIGITS IN 2023 DRIVEN BY COST INFLATION \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects q1 adj. ebitda $700 mln - $760 mln\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects q1 adj. ebitda $700 mln - $760 mln\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..d38f3f2376884de7ca3881682484ca57f9dd1506 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects q1 adj. ebitda $700 mln - $760 mln\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS Q1 ADJ. EBITDA $700 MLN - $760 MLN \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects q1 iet revenue between $1.9 bln - $2.4 bln\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects q1 iet revenue between $1.9 bln - $2.4 bln\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..4018e05e69386df43c48a0453059faca1c7854c2 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects q1 iet revenue between $1.9 bln - $2.4 bln\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS Q1 IET REVENUE BETWEEN $1.9 BLN - $2.4 BLN \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects q1 ofse adj. ebitda between $515 mln - $585\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects q1 ofse adj. ebitda between $515 mln - $585\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..00b356dfda6ea26489b830d30a4b07f879cc54fe --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects q1 ofse adj. ebitda between $515 mln - $585\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS Q1 OFSE ADJ. EBITDA BETWEEN $515 MLN - $585 MLN \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects q1 revenue between $5.3 bln - $5.7 bln\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects q1 revenue between $5.3 bln - $5.7 bln\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..08cb7b492309c0e230151f321a37695dc11d6311 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects q1 revenue between $5.3 bln - $5.7 bln\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS Q1 REVENUE BETWEEN $5.3 BLN - $5.7 BLN \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes expects to invest in bolt-on m&a opportunities that\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes expects to invest in bolt-on m&a opportunities that\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..cff73663b4c70733042fab8e6335e78b1522e0ea --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes expects to invest in bolt-on m&a opportunities that\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES EXPECTS TO INVEST IN BOLT-ON M&A OPPORTUNITIES THAT CAN COMPLEMENT CURRENT BUSINESSES AS WELL AS IN NEW ENERGY \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes says as co enters 2023, industrial & energy technol\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes says as co enters 2023, industrial & energy technol\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..67eb59249fa9e5cc1bb1914c8d222df5dab5c544 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes says as co enters 2023, industrial & energy technol\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES SAYS AS CO ENTERS 2023, INDUSTRIAL & ENERGY TECHNOLOGY (IET) HAS A RECORD BACKLOG OF $25 BILLION \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes says for 2023, expect ofse to deliver double-digit\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes says for 2023, expect ofse to deliver double-digit\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..b45d8d0b4cf3abd921a92454c2bf22078c1076e6 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes says for 2023, expect ofse to deliver double-digit\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES SAYS FOR 2023, EXPECT OFSE TO DELIVER DOUBLE-DIGIT REVENUE GROWTH \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes says inflation reduction act and potential new legi\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes says inflation reduction act and potential new legi\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..4a0f63b9c3c55e3d69605c1515ab109fc0efdc37 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes says inflation reduction act and potential new legi\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES SAYS INFLATION REDUCTION ACT AND POTENTIAL NEW LEGISLATION IN EUROPE WILL SUPPORT GROWTH OPPORTUNITIES IN NEW ENERGY IN 2023 AND BEYOND \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes says oilfield services and equipment (ofse) seeing\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes says oilfield services and equipment (ofse) seeing\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c2e57c7e6fabf139303a908aed2011498ca2921d --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes says oilfield services and equipment (ofse) seeing\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES SAYS OILFIELD SERVICES AND EQUIPMENT (OFSE) SEEING GROWTH TREND IN FAVOR OF INTERNATIONAL WHILE NORTH AMERICA ACTIVITY LEVELS OFF \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes says positive on near-term and long-term prospects\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes says positive on near-term and long-term prospects\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..bb23af151517f288ab7ce2f86a6f98a5079ea11c --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes says positive on near-term and long-term prospects\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES SAYS POSITIVE ON NEAR-TERM AND LONG-TERM PROSPECTS FOR THE NATURAL GAS AND LNG INVESTMENT CYCLE \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes says reopening of china, combined with europe's nee\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes says reopening of china, combined with europe's nee\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c4bbfb5021129fd1e2a60c4e71c64b358552d55f --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes says reopening of china, combined with europe's nee\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES SAYS REOPENING OF CHINA, COMBINED WITH EUROPE'S NEED TO REFILL GAS STORAGE SUPPLIES WILL KEEP GLOBAL GAS AND LNG MARKETS TIGHT \ No newline at end of file diff --git "a/news/BKR/2023.01.23/Baker hughes will rationalize roughly 40% to 50% of subsea produ\342\200\246.txt" "b/news/BKR/2023.01.23/Baker hughes will rationalize roughly 40% to 50% of subsea produ\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..75bb7c0090ccdfa7d7244347846c5bc4a934dc08 --- /dev/null +++ "b/news/BKR/2023.01.23/Baker hughes will rationalize roughly 40% to 50% of subsea produ\342\200\246.txt" @@ -0,0 +1 @@ +BAKER HUGHES WILL RATIONALIZE ROUGHLY 40% TO 50% OF SUBSEA PRODUCTION SYSTEMS MANUFACTURING CAPACITY \ No newline at end of file diff --git a/news/BKR/2023.01.23/Brace yourself for a flurry of earnings.txt b/news/BKR/2023.01.23/Brace yourself for a flurry of earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..3dee605962a5fa10502e724db28416649f160073 --- /dev/null +++ b/news/BKR/2023.01.23/Brace yourself for a flurry of earnings.txt @@ -0,0 +1,38 @@ + +Indeed, this week there will be about 20 earnings releases from very large companies, with a capitalization of more than $100 billion. Among them, Microsoft, Johnson & Johnson or Danaher tomorrow. Tesla, ASML and Abbott on Wednesday, then Visa, LVMH, Mastercard and Intel on Thursday. Before Chevron and American Express on Friday. For the record, U.S. companies in the traditional sectors generally publish before the opening of Wall Street, while technology companies are subscribed to the post-close. In addition to ASML and LVMH, the European agenda this week includes a few other iconic companies, such as Diageo, SAP, Atlas Copco, STMicroelectronics, Sartorius Stedim Biotech and Nokia. + +Why is this important? Because corporate results and forecasts are the reality on the ground for investors who have been juggling conflicting macroeconomic currents for a few weeks. The quality of the figures will affect the morale and perception of investors. When I talk about the reality on the ground, I am talking about the reality of listed companies, which is not entirely representative of the general economic situation. If they face the same backdrop as small businesses, they have many more levers to present their situation in a favorable light. +Last week, financial markets managed to salvage their weekly performance thanks to a rebound on Friday. This did not allow the S&P500 to post a positive weekly balance, as it ended the week -0.66% lower, despite gains of 1.9% on Friday. For the Nasdaq, on the other hand, the 2.86% surge at the close brought the index back into the green for the week, with a small increase of 0.67%. American technology stocks have thus recorded their third week of growth in 2023. +Investors are relying on their favorite triple driver of the moment: a soft economic landing, a recovery in China and the normalization of monetary policy by the Fed. The appetite for risk returns at a pivotal time for the market. Investors didn't pay much attention to the hard-line fringe of the Fed's central bankers last week, who reiterated that there is still a long way to go to overcome inflation. However, they did listen to several other members of the central bank, who were clearly more relaxed and called for a moderation of monetary tightening. Hence the nice acceleration in risk assets to close the week, before entering the hard part of the corporate earnings season starting tomorrow. +The other important element of the week is the Lunar New Year festivities in Asia. Several major stock markets are closed this morning. Shanghai will not open for the week. Trading will not resume until Wednesday in Seoul and Thursday in Hong Kong. Other markets like Singapore and Taiwan are also closed for varying lengths of time. +  +Economic highlights of the day: +Few appointments on the agenda today, apart from the index of leading indicators in the United States, which is not very followed. All the agenda is here.  +The dollar is slightly up to EUR 0.9213 and GBP 0.8106. The ounce of gold fell 0.4% to USD 1918. The North Sea Brent crude rose 1.3% to USD 87.27 per barrel and U.S. light crude WTI 0.9% to USD 81.39. The yield on 10-year US debt bounced back to 3.46%. Bitcoin is trading around its best recent levels, near USD 22,800. +  +In corporate news: +* Salesforce was up nearly 4 percent in pre-market trading after Reuters reports that activist fund Elliott Management has taken a multibillion-dollar stake in the IT group. +* Goldman Sachs asset management arm will significantly reduce its $59 billion in alternative investments that are weighing on the bank's performance, an executive told Reuters. +* Western Digital and Japan's Kioxia Holdings are in advanced discussions for a possible merger that will involve a dual listing, Bloomberg reported Friday. Western Digital shares were up 1.4 percent in premarket trading. +* Apple wants India to account for as much as 25 percent of its production, up from about 5 percent to 7 percent now, India's commerce minister said Monday. +* PayPal Holdings was down 2.1% in premarket trading after the German cartel regulator announced that it was launching proceedings against the group on suspicion of possible antitrust violations. +* Baker Hughes reported a lower-than-expected fourth-quarter profit as the oilfield services company struggled with component shortages, the impact of inflation and disruptions caused by the war in Ukraine. +* Spotify Technology announced plans to cut 6% of its workforce, or about 600 positions. The stock was up 3.5% in pre-market trading. +* Silvergate Capital, a cryptocurrency specialist, assured Friday after-hours that it had limited exposure to Genesis, the latest player in the sector to file for bankruptcy. +* The Abbott Laboratories plant in Michigan, which was at the heart of the 2022 U.S. infant milk shortage due to health problems, is under investigation by the Justice Department, the Wall Street Journal reported Friday. +  +Analyst recommendations: + +Advanced Micro Devices: Barclays upgraded its recommendation to "overweight" from "equal weight" +Applied Materials: Barclays downgrades to underweight from equal-weight. PT down 18% to $90. +Associated British Foods: Deutsche Bank upgrades from hold to buy targeting GBp 2180. +Close Brothers: Investec upgrades to hold from sell. PT down 1.9% to 955 pence. +KLA Corp: Barclays downgrades to underweight from equal-weight. PT down 21% to $325. +Pendragon: Jefferies resumes its Buy rating, targeting GBp 25. +PTC: KeyBanc Capital Markets upgrades to overweight from sector weight. PT up 19% to $155. +Qualcomm: Barclays upgraded its recommendation to "overweight" from "equal weight" +Skyworks: Barclays upgrades to overweight from equal-weight. PT up 21% to $125. +Vodafone: Jefferies remains "Hold" with a price target reduced from GBp 100 to GBp 85. +Warner Music: Barclays downgrades to equal-weight from overweight. PT down 1.6% to $35. +Western Digital: Exane BNP Paribas upgrades to neutral from underperform. PT up 9.2% to $42. + diff --git a/news/BKR/2023.01.23/Global markets live: Abbott, Goldman Sachs, Alphabet, Eli Lilly, Pay...txt b/news/BKR/2023.01.23/Global markets live: Abbott, Goldman Sachs, Alphabet, Eli Lilly, Pay...txt new file mode 100644 index 0000000000000000000000000000000000000000..64b61f120291b72a575fc2343ade9eb3c84e52bb --- /dev/null +++ b/news/BKR/2023.01.23/Global markets live: Abbott, Goldman Sachs, Alphabet, Eli Lilly, Pay...txt @@ -0,0 +1,24 @@ + +  +  + +Abbott has confirmed that it is under investigation by the U.S. Department of Justice regarding the closure of its infant milk plant. +Elliott takes a multibillion-dollar stake in Salesforce. +Goldman Sachs asset management arm will significantly reduce its $59 billion in alternative investments that are weighing on the bank's performance, an executive told Reuters. +Apple wants India to account for as much as 25 percent of its production, up from about 5 percent to 7 percent now, India's commerce minister said Monday. +Nokia and Samsung agree on a new 5G patent licensing deal. +Alphabet, Google's parent company, announces a large-scale redundancy plan with the elimination of about 12,000 jobs worldwide. +Union Investment, one of Bayer's shareholders, criticized on Sunday the lack of initiative of the group's chairman. +Holcim is buying up aggregates activities in the United States. +Salzgitter wants to cut about 500 to 800 jobs by 2033. +The FDA won't do an accelerated review for Eli Lilly's Alzheimer's treatment. +Elon Musk announces a new, more expensive subscription to hide ads on Twitter. +The owners of UK supermarkets Asda and EG Group are reportedly considering a merger. +Saga is looking to sell its insurance underwriting business, according to the British press. +Western Digital and Japan's Kioxia Holdings are in advanced discussions for a possible merger that will involve a dual listing, Bloomberg reports. +The German cartel regulator announced that it was launching proceedings against PayPal on suspicion of possible antitrust violations. +Baker Hughes reported a lower-than-expected fourth-quarter profit as the oilfield services company struggled with component shortages, the impact of inflation and disruptions caused by the war in Ukraine. +Spotify Technology announced plans to cut 6% of its workforce, or about 600 positions. +Silvergate Capital, a cryptocurrency specialist, assured Friday after-hours that it had limited exposure to Genesis, the latest player in the sector to file for bankruptcy. + +Main earnings reports today: Baker Hughes, Secunet... All the agenda is here.  diff --git a/news/BKR/2023.01.23/Oilfield firm Baker Hughes misses fourth-quarter Wall St. profit estimate.txt b/news/BKR/2023.01.23/Oilfield firm Baker Hughes misses fourth-quarter Wall St. profit estimate.txt new file mode 100644 index 0000000000000000000000000000000000000000..bd6fb5d9b4e6caf2189c0901a985ce6e241bbca5 --- /dev/null +++ b/news/BKR/2023.01.23/Oilfield firm Baker Hughes misses fourth-quarter Wall St. profit estimate.txt @@ -0,0 +1 @@ +Adjusted net income stood at $381 million or 38 cents per share, for the three months ended Dec. 31, compared with average analyst estimates of 40 cents per share, according to Refinitiv data. (Reporting by Arunima Kumar in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/BKR/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt b/news/BKR/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt new file mode 100644 index 0000000000000000000000000000000000000000..e0450486bc3422bc88ca51d082472ea1496dc692 --- /dev/null +++ b/news/BKR/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Activist investor Elliott Management takes stake in +Salesforce*Baker Hughes falls on missing Q4 profit estimates*Futures up: Dow 0.24%, S&P 0.16%, Nasdaq 0.20%Jan 23 (Reuters) - U.S. stock indexes were set to open +higher at the start of another big week for corporate earnings, +with Salesforce leading gains on Monday following news that +Elliott Management had acquired a stake.A slew of earnings in the coming weeks will also test the +recent bounce in certain technology and growth stocks that took +a large hit last year. The tech-focused Nasdaq index was +the only major Wall Street benchmark that ended the previous +week higher.Concerns of a possible recession amid a high interest rate +environment have hit growth-related sectors, driving major tech +companies such as Microsoft Corp, Amazon.com Inc +and Alphabet Inc to lay off thousands of +employees.Companies which make up more than half the S&P 500 index's +market value will report earnings in the next two weeks, +with Microsoft, the second-largest U.S. firm by market value, +posting results on Tuesday, Tesla Inc and IBM +on Wednesday and Intel on Thursday.Analysts now expect year-over-year fourth-quarter earnings +from S&P 500 companies to decline 2.9%, according to IBES +Refinitiv data, compared with a 1.6% decline at the beginning of +the year."It's going to be a situation where I'm expecting to hear +weakness, not strength from corporate America," said Adam +Sarhan, chief executive of 50 Park Investments in New York."It's much better to lower expectations and then beat weak +expectations then it is to raise your guidance or have strong +expectations and then miss."Investors also await January manufacturing and +fourth-quarter GDP data for a clearer picture of the impact the +Federal Reserve's aggressive rate hikes have had on the economy.Data recently has signaled cooling inflation but has also +highlighted a tight labor market that offers the central bank +room to stick with its aggressive policy tightening.Shares of cloud-based software firm Salesforce Inc +rose 4.7% in premarket trading to lead gains among Dow +components after activist investor Elliott Management Corp made +a multi-billion-dollar investment in the company, according to +people familiar with the matter.At 8:39 a.m. ET, Dow e-minis were up 79 points, or +0.24%, S&P 500 e-minis were up 6.25 points, or 0.16%, +and Nasdaq 100 e-minis were up 23.5 points, or 0.2%.Among other stocks, Baker Hughes Co slid 1.4% on +missing fourth-quarter profit estimates, hit by component +shortages and supply chain disruptions.Xylem Inc fell 8.3% on its acquisition of water +treatment solutions firm Evoqua Water Technologies Corp +in a $7.42 billion deal. Evoqua shares jumped 13.7%.Qualcomm Inc and Advanced Micro Devices Inc +climbed above 2% each, after brokerage Barclays upgraded the +chipmakers to "overweight" from "equal-weight".Western Digital Corp rose 4.0% on a report that the +memory chip maker could merge with Japan's Kioxia Holdings. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/BKR/2023.01.23/Wall Street extends gains as chipmakers lead tech shares higher.txt b/news/BKR/2023.01.23/Wall Street extends gains as chipmakers lead tech shares higher.txt new file mode 100644 index 0000000000000000000000000000000000000000..6847e8d2e82155b57b1f2a285169b5a05d5e70c7 --- /dev/null +++ b/news/BKR/2023.01.23/Wall Street extends gains as chipmakers lead tech shares higher.txt @@ -0,0 +1,46 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Baker Hughes falls on missing Q4 profit estimates*Activist investor Elliott Management takes stake in +Salesforce*Xylem top percentage decliner on S&P 500*Indexes up: Nasdaq 1.93%, S&P 1.29%, Dow 0.83%Jan 23 (Reuters) - U.S. stock indexes rose on Monday, +with the Nasdaq jumping nearly 2%, as gains in shares of +chipmakers helped ease pressure on the battered technology +sector at the start of another big week for corporate earnings.All of the 11 major S&P 500 sector indexes were up by +early afternoon trading, with a 2.5% rise in tech stocks +making them the biggest gainers.Qualcomm Inc and Advanced Micro Devices Inc +jumped about 8% each after Barclays upgraded their +stocks to "overweight" from "equal-weight". The Philadelphia SE +Semiconductor index was up 4.6% to hit a more than +one-month high.Western Digital Corp jumped 7.06% on a report that +the memory chipmaker could merge with Japan's Kioxia Holdings."All those names and sectors (chipmakers) in general +just got beat up much more than the market in general overall. +So now in a lot of those names, there's value," said Jimmy Lee, +chief executive officer of Wealth Consulting Group."It was a tough year for technology investors. So you're +starting to see investors going back into some of those names. +But instead of across the board, they'll be buying the names +that have a chance to do good this year, even in a choppy +economic environment."The communication services, consumer +discretionary and tech sectors are the top gainers in +January, after clocking big declines in 2022.Investors are eyeing results from Microsoft Corp +, Tesla Inc, IBM Corp and Intel Corp +this week to see how their businesses are coping with +the threat of an economic slowdown triggered by the Federal +Reserve's aggressive policy tightening.Analysts are expecting a 3% drop in earnings from S&P +500 companies, according to Refinitiv data, much wider than +their forecast of a 1.6% drop at the beginning of the year.At 12:36 p.m. ET, the Dow Jones Industrial Average +was up 278.26 points, or 0.83%, at 33,653.75, the S&P 500 +was up 51.07 points, or 1.29%, at 4,023.68, and the +Nasdaq Composite was up 214.83 points, or 1.93%, at +11,355.27.Baker Hughes Co dipped 0.4% on missing estimates for +fourth-quarter profit.Cloud-based software firm Salesforce Inc rose 3.62% +after activist investor Elliott Management Corp made a +multi-billion-dollar investment in the company, according to +people familiar with the matter.Xylem Inc dropped 8.74% on its acquisition of water +treatment solutions firm Evoqua Water Technologies Corp +in a $7.42 billion deal. Evoqua shares surged 14.50%.Investors are awaiting January manufacturing and +fourth-quarter GDP data during the week.Although recent data has signaled cooling inflation, a +tight labor market may keep the central bank on its aggressive +policy tightening path until rates rise over 5%, a level backed +by most policymakers.Advancing issues outnumbered decliners by a 3.40-to-1 ratio +on the NYSE and by a 1.90-to-1 ratio on the Nasdaq.The S&P index recorded nine new 52-week highs and no new +low, while the Nasdaq recorded 60 new highs and 12 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/BKR/2023.01.23/Wall Street extends rally, powered by tech bounce.txt b/news/BKR/2023.01.23/Wall Street extends rally, powered by tech bounce.txt new file mode 100644 index 0000000000000000000000000000000000000000..57d2600c8ab313dd2d3793f6a0adecf15393bf18 --- /dev/null +++ b/news/BKR/2023.01.23/Wall Street extends rally, powered by tech bounce.txt @@ -0,0 +1,59 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Baker Hughes falls on missing Q4 profit estimates*Activist investor Elliott Management takes stake in +Salesforce*Chips surge on Barclay's upgrade*Indexes up: Dow 0.76%, S&P 1.19%, Nasdaq 2.01%NEW YORK, Jan 23 (Reuters) -Wall Street closed sharply higher on Monday, fueled by +surging technology stocks as investors began an earnings-heavy +week with a renewed enthusiasm for market-leading momentum +stocks that were battered last year.All three major stock indexes extended Friday's gains, +with the tech-heavy Nasdaq leading the pack, boosted by +semiconductor shares."(Chips are) a group that's been depressed, so I’m not +too surprised," said Peter Tuz, president of Chase Investment +Counsel in Charlottesville, Virginia. "We're going to see +earnings from these companies over the next couple of weeks and +that will be where the rubber meets the road.""It’s a group that was ripe for a rebound."The session marks a calm before the storm in a week +jam-packed with high profile earnings reports and back-end +loaded with crucial economic data.Investors are all but certain the Federal Reserve will +implement a bite-sized interest rate hike next week even as the +U.S. central bank remains committed to taming the hottest +inflationary cycle in decades."(Investors) are pretty comfortable that they’re going +to see lower rate hikes from the Fed, that we are rounding the +corner on inflation and interest rate hikes," Tuz added. "Stocks +can do well in that environment, especially the big growth +stocks that drive the market."Financial markets have priced in a 99.9% likelihood of a 25 +basis point hike to the Fed funds target rate at the conclusion +of its two-day monetary policy meeting next Wednesday, according +to CME's FedWatch tool.The Dow Jones Industrial Average rose 254.07 points, +or 0.76%, to 33,629.56, the S&P 500 gained 47.2 points, +or 1.19%, to 4,019.81 and the Nasdaq Composite added +223.98 points, or 2.01%, to 11,364.41.Of the 11 major S&P 500 sectors, all but energy +ended green, with tech shares enjoying the largest +percentage gain, up 2.3% on the session.The fourth-quarter reporting season has shifted into +overdrive, with 57 of the companies in the S&P 500 having posted +results. Of those, 63% have delivered better-than-expected +earnings, according to Refinitiv.Analysts now see S&P 500 fourth-quarter earnings, on +aggregate, dropping 3% year-on-year, nearly twice as steep as +the 1.6% annual drop seen at the beginning of the year, per +Refinitiv.This week, Microsoft Corp and Tesla Inc, +along with a spate of heavy-hitting industrials including Boeing +CO, 3M Co, Union Pacific Corp, Dow Inc +, and Northrop Grumman Corp, are expected to post +quarterly results.The Philadelphia SE semiconductor index jumped 5.0%, +its biggest one-day gain since Nov. 30 after Barclays upgraded +the sector to "overweight" from "equal weight."Tesla surged7.7% after Chief Executive Elon Musktook the standin his fraud trial related to a tweet saying he had backing +to take the electric automaker private.Baker Hughes Comissedquarterly profit estimates due to inflation pressures and +ongoing disruptions due to Russia's war on Ukraine. The oilfield +services company's shares dipped1.5%.Cloud-based software firm Salesforce Inc jumped3.1% following news that activist investor Elliot Management +Corp has taken amulti-billion dollar stakein the company.Spotify Technology SA joined the growing list +of tech-related companies to announceimpending job cuts, shedding 6% of its workforce as rising interest rates and +the looming possibility of recession continue to pressure growth +stocks. The music streaming company's shares rose2.1%.On the economic front, the U.S. Commerce Department is +expected to unveil its initial "advance" take on fourth-quarter +GDP on Thursday, which analysts expect to land at 2.5%.On Friday, the wide-ranging personal consumption +expenditures (PCE) report is due to shed light on consumer +spending, income growth, and crucially, inflation.Advancing issues outnumbered declining ones on the NYSE by a +2.77-to-1 ratio; on Nasdaq, a 1.73-to-1 ratio favored advancers.The S&P 500 posted 11 new 52-week highs and no new lows; +the Nasdaq Composite recorded 82 new highs and 19 new lows.Volume on U.S. exchanges was 11.99 billion shares, +compared with the 10.62 billion average over the last 20 trading +days. +(Reporting by Stephen Culp; Additional reporting by Shreyashi +Sanyal and Johann M Cherian in Bengaluru +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/BKR/2023.01.23/Wall Street rallies to higher close, fueled by tech bounce.txt b/news/BKR/2023.01.23/Wall Street rallies to higher close, fueled by tech bounce.txt new file mode 100644 index 0000000000000000000000000000000000000000..ce0c3ccd950a6bfecdbf7b435b093d3341662610 --- /dev/null +++ b/news/BKR/2023.01.23/Wall Street rallies to higher close, fueled by tech bounce.txt @@ -0,0 +1,56 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Baker Hughes falls on missing Q4 profit estimates*Activist investor Elliott Management takes stake in +Salesforce*Chips surge on Barclay's upgradeNEW YORK, Jan 23 (Reuters) -Wall Street ended sharply higher on Monday, powered by +surging technology stocks as investors began an earnings-heavy +week with a renewed enthusiasm for market leading momentum +stocks that were battered last year.All three major stock indexes extended Friday's rally, +gaining altitude as the day progressed. The tech-heavy Nasdaq +led the pack, boosted by semiconductor shares."(Chips are) a group that's been depressed, so I’m not +too surprised," said Peter Tuz, president of Chase Investment +Counsel in Charlottesville, Virginia. "We're going to see +earnings from these companies over the next couple of weeks and +that will be where the rubber meets the road.""It’s a group that was ripe for a rebound."The session marks a calm before the storm in a week +jam-packed with high profile earnings reports and back-end +loaded with crucial economic data.Investors are all but certain the Federal Reserve will +implement a bite-sized interest rate hike next week even as the +U.S. central bank remains committed to taming the hottest +inflationary cycle in decades."(Investors) are pretty comfortable that they’re going +to see lower rate hikes from the Fed, that we are rounding the +corner on inflation and interest rate hikes," Tuz added. "Stocks +can do well in that environment, especially the big growth +stocks that drive the market."Financial markets have priced in a 99.8% likelihood of a 25 +basis point hike to the Fed funds target rate at the conclusion +of its two-day monetary policy meeting next Wednesday, according +to CME's FedWatch tool.According to preliminary data, the S&P 500 +gained 46.75 points, or 1.18%, to end at 4,019.36 points, +while the Nasdaq Composite gained 223.34 points, or +2.00%, to 11,363.77. The Dow Jones Industrial Average +rose 252.36 points, or 0.76%, to 33,627.85.The fourth-quarter reporting season has shifted into +overdrive, with 57 of the companies in the S&P 500 having posted +results. Of those, 63% have delivered better-than-expected +earnings, according to Refinitiv.Analysts now see S&P 500 fourth-quarter earnings, on +aggregate, dropping 3% year-on-year, nearly twice as steep as +the 1.6% annual drop seen at the beginning of the year, per +Refinitiv.This week, Microsoft Corp and Tesla Inc, +along with a spate of heavy-hitting industrials including Boeing +CO, 3M Co, Union Pacific Corp, Dow Inc +, and Northrop Grumman Corp, are expected to post +quarterly results.The Philadelphia SE semiconductor index posted sharp +gains after Barclays upgraded the sector to "overweight" from +"equal weight."Tesla surged 7.8% as Chief Executive Elon Musk took the +stand in his fraud trial related to a tweet saying he had +backing to take the electric automaker private.Baker Hughes Co missed quarterly profit estimates +due to inflation pressures and ongoing disruptions due to +Russia's war on Ukraine.Cloud-based software firm Salesforce Inc jumped +following news that activist investor Elliot Management Corp has +taken a multi-billion dollar stake in the company.Spotify Technology SA joined the growing list of +tech-related companies to announce impending job cuts, shedding +6% of its workforce as rising interest rates and the looming +possibility of recession continue to pressure growth stocks.On the economic front, the U.S. Commerce Department is +expected to unveil its initial "advance" take on fourth-quarter +GDP on Thursday, which analysts expect to land at 2.5%.On Friday, the wide-ranging personal consumption +expenditures (PCE) report is due to shed light on consumer +spending, income growth, and crucially, inflation. +(Reporting by Stephen Culp; Additional reporting by Shreyashi +Sanyal and Johann M Cherian in Bengaluru +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/BKR/2023.01.23/Wall Street rises as chipmakers lead tech shares higher.txt b/news/BKR/2023.01.23/Wall Street rises as chipmakers lead tech shares higher.txt new file mode 100644 index 0000000000000000000000000000000000000000..bc9f1fe4aab44dfdc15175ae775a4017bb2d3af5 --- /dev/null +++ b/news/BKR/2023.01.23/Wall Street rises as chipmakers lead tech shares higher.txt @@ -0,0 +1,43 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Activist investor Elliott Management takes stake in +Salesforce*Baker Hughes falls on missing Q4 profit estimates*Indexes up: Nasdaq 1.05%, S&P 0.59%, Dow 0.23%Jan 23 (Reuters) - U.S. stock indexes rose on Monday as +gains in shares of chipmakers helped ease pressure on the +battered technology sector at the start of another big week for +corporate earnings.Investors are eyeing results from Microsoft Corp, +Tesla Inc, IBM and Intel this week to +see how their business are coping with the threat of an economic +slowdown triggered by the Federal Reserve's aggressive policy +tightening.Six of the 11 major S&P 500 sector indexes were up in early +trading, with a 1.3% rise in tech stocks making them +the biggest gainers.Qualcomm Inc and Advanced Micro Devices Inc +climbed 4.5% and 7%, respectively, after Barclays +upgraded their stocks to "overweight" from "equal-weight".Western Digital Corp jumped 6% on a report that the +memory chipmaker could merge with Japan's Kioxia Holdings.Those gains helped the Philadelphia SE Semiconductor +Index add 2.9% and hit a one-month high."All those names and sectors (chipmakers) in general +just got beat up much more than the market in general overall. +So now in a lot of those names, there's value," said Jimmy Lee, +chief executive officer of Wealth Consulting Group."It was a tough year for technology investors. So you're +starting to see investors going back into some of those names. +But instead of across the board, they'll be buying the names +that have a chance to do good this year, even in a choppy +economic environment."Analysts now expect fourth-quarter earnings from S&P 500 +companies to fall 2.9%, according to IBES Refinitiv data, +compared with a 1.6% drop at the beginning of the year.Investors are also awaiting January manufacturing and +fourth-quarter GDP data to assess the impact of the Fed's rate +hikes on the economy.Although recent data has signaled cooling inflation, a tight +labor market may keep the central bank on its aggressive policy +tightening path until rates rise over 5%, a level backed by most +policymakers.At 10:04 a.m. ET the Dow Jones Industrial Average was +up 76.08 points, or 0.23%, at 33,451.57, the S&P 500 was +up 23.24 points, or 0.59%, at 3,995.85 and the Nasdaq Composite +was up 117.16 points, or 1.05%, at 11,257.59.Cloud-based software firm Salesforce Inc rose 2.0% +to lead gains among Dow components after activist investor +Elliott Management Corp made a multi-billion-dollar investment +in the company, according to people familiar with the matter.Baker Hughes Co slid 1.1% on missing fourth-quarter +profit estimates, hit by component shortages and supply chain +disruptions.Advancing issues outnumbered decliners by a 2.05-to-1 ratio +on the NYSE and by a 1.60-to-1 ratio on the Nasdaq.The S&P index recorded two new 52-week highs and no new low, +while the Nasdaq recorded 35 new highs and six new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/BKR/2023.01.23/Wall Street surges, powered by tech rebound.txt b/news/BKR/2023.01.23/Wall Street surges, powered by tech rebound.txt new file mode 100644 index 0000000000000000000000000000000000000000..02248781cec065a80c15ccc0c2b26f6a4248b9b5 --- /dev/null +++ b/news/BKR/2023.01.23/Wall Street surges, powered by tech rebound.txt @@ -0,0 +1 @@ +The Dow rose three quarters of a percent. The S&P 500 added more than a percent, while the tech-heavy Nasdaq ended the session with 2% gain.Investors felt renewed enthusiasm for tech stocks ahead of earnings from Microsoft and Tesla this week.But the momentum may be short-lived, said James Demmert, founder and chief investment officer at Main Street Research."I think that the Microsoft, Tesla, IBM earnings are something that people should focus on and everything next week. I mean, there's got to be half the S&P 500 reporting in the next two weeks. And this is the, sort of, we're going to find out if these the canaries in the coal mine. You know, Microsoft just had a big layoff. I think what you're going to see from the Teslas, the IBMs, the Microsofts, is they're going to probably maybe miss the numbers, even though estimates have been lowered. What we've been seeing, particular in technology, is they're still not making them. And I think, more importantly, not just the announcement of the earnings, it's the guidance. You know, what are these CFOs, CEOs saying on these calls, which our team listens to? And I think there's where you're going to start to hear that concern; 'Hey, we're worried about what's going to happen this quarter or next, hence we're laying people off.' A lot of this is very much what you see in the last phase of the bear markets and sort of getting close to a tougher economic climate."Shares of Microsoft rose about a percent ahead of earnings set for Tuesday.And shares of Tesla surged more than seven and a half percent ahead of earnings scheduled for Wednesday. CEO Elon Musk took the stand again on Monday in his fraud trial related to a tweet saying he had backing to take the electric car company private, a deal that never materialized.Shares of Baker Hughes fell about one and a half percent after the energy company missed quarterly profit estimates due to inflation pressures and ongoing disruptions due to Russia's war on Ukraine.And cloud-based software firm Salesforce jumped 3% following news that activist investor Elliot Management has taken a multi-billion dollar stake in the company. \ No newline at end of file diff --git a/news/BKR/2023.01.24/Baker Hughes : Fourth Quarter 2022 Earnings Conference Call Prepared Remarks.txt b/news/BKR/2023.01.24/Baker Hughes : Fourth Quarter 2022 Earnings Conference Call Prepared Remarks.txt new file mode 100644 index 0000000000000000000000000000000000000000..b52ff4778cafbc8e4a4f93d6279717d65847e1ec --- /dev/null +++ b/news/BKR/2023.01.24/Baker Hughes : Fourth Quarter 2022 Earnings Conference Call Prepared Remarks.txt @@ -0,0 +1,215 @@ + + + + Baker Hughes Fourth Quarter 2022 - Earnings Conference Call Prepared Remarks + + + Fourth Quarter 2022 - Earnings Conference Call Prepared Remarks + + +Jud Bailey Baker Hughes - VP of Investor Relations + + + Thank you. + + + Good morning everyone, and welcome to the Baker Hughes Fourth Quarter 2022 Earnings Conference Call. Here with me are our Chairman and CEO, Lorenzo Simonelli; and our CFO, Nancy Buese. The earnings release we issued earlier today can be found on our website at bakerhughes.com. + + + As a reminder, during the course of this conference call, we will provide forward-looking statements. These statements are not guarantees of future performance and involve a number of risks and assumptions. Please review our SEC filings and website for a discussion of the factors that could cause actual results to differ materially. + + + As you know, reconciliations of operating income and other GAAP to non-GAAP measures can be found in our earnings release. + + + With that I will turn the call over to Lorenzo. + + +Lorenzo Simonelli Baker Hughes - Chairman & CEO + + + Thank you, Jud. Good morning everyone and thanks for joining us. + + + I would like to start off by highlighting a couple of changes for this earnings call. For the first time, we are hosting our earnings call from Florence, Italy, where we will host our Board meeting later this week and welcome over 2,000 customers and industry experts next week at our Annual Meeting. We will also be using a presentation during this webcast, which has also been published on our investor website, that we will reference over the course of our prepared remarks. + + + As you can see on slide 4, we were very pleased to end 2022 with solid momentum across our two business segments. In the fourth quarter, we saw continued margin improvement in our OFSE segment and an extremely strong level of orders for IET, which was driven by multiple awards across different end markets. + + + 2022 was an important year for Baker Hughes on a number of fronts. Strategically, we took a large step forward in re-shaping the company as we announced a formal restructuring and re- segmentation of Baker Hughes into two business segments. This kicked off a major transformation effort across the organization, including key executive management changes, which will fundamentally improve the way the company operates. + + + 1 + + + + + Baker Hughes Fourth Quarter 2022 - Earnings Conference Call Prepared Remarks + + + Operationally, our performance for the year was mixed. During the first half of the year, we experienced multiple headwinds across our organization, as well as a number of operational challenges. While our performance improved over the second half, we still have more work to do and are focused on various initiatives to improve shorter-term execution and meet the longer-term financial objectives we laid out at an investor conference last September. + + + Commercially, orders performance in LNG and New Energy hit new highs and are poised to remain strong into 2023. In 2022, we booked almost $3.5 billion in LNG equipment orders, our highest ever, and booked over $400 million in New Energy orders, showing over 50% growth versus 2021. + + + Although not yet back to previous historical levels, orders for our offshore-exposed businesses also accelerated. Within OFSE, SSPS booked over $3 billion in orders in 2022, representing 36% growth versus 2021. In IET, Onshore/Offshore Production recorded equipment orders of almost $1.9 billion in 2022. + + + We are also seeing improvements in our industrial segments with Industrial Technology orders of $3.3 billion in 2022, up 6% year-over-year. + + + As we look ahead to 2023, we expect order momentum to continue across both OFSE and IET despite what is likely to be a mixed macro environment. + + + Turning to slide 5, in 2023, the global economy is expected to experience some challenges under the weight of inflationary pressures and tightening monetary conditions. Despite recessionary pressures in some of the world's largest economies, we maintain a positive outlook for the energy sector. With years of under investment now being amplified by recent geopolitical factors, global spare capacity for oil and gas has deteriorated and will likely require years of investment growth to meet forecasted future demand. + + + For this reason, we continue to believe that we are in the early stages of a multi-year upturn in global activity and are poised to see a second consecutive year of solid double-digit increases in global upstream spending in 2023. In addition to strong growth in traditional oil and gas spending, we also believe that the Inflation Reduction Act in the US and potential new legislation in Europe will support significant growth opportunities in New Energy in 2023 and beyond. + + + We also remain positive on the near term and long-term prospects for the natural gas and LNG investment cycle. Near term, we believe that the likely reopening of China, combined with Europe's need to refill gas storage supplies, will play a critical role in keeping global gas and LNG markets tight. Longer-term, we remain optimistic on the structural growth outlook for natural gas and LNG as the world looks to lower emissions and displace the consumption of coal. + + + While cost inflation and higher interest rates slowed the pace of new LNG FIDs in 2022, we are seeing progress on a number of fronts. We continue to expect significant growth in new project sanctions in 2023, with elevated activity levels likely continuing into 2024. Following 36 MTPA of LNG FIDs in 2022, we continue to expect to see an additional 65 to 115 MTPA of LNG projects reach FID in 2023. + + + Just as important as the near-term outlook for LNG orders, we are now gaining visibility into new project opportunities that are developing towards the middle of the decade. Most notably, we are seeing progress on a number of brownfield initiatives and advancements in new modular concepts that is likely to extend the current wave of activity several more years. + + + 2 + + + + + Baker Hughes Fourth Quarter 2022 - Earnings Conference Call Prepared Remarks + + + Turning to slide 6, given this macro backdrop, Baker Hughes is intensely focused on four key areas in 2023 in order to drive future value for shareholders. + + + First, we are well positioned to capitalize on the significant growth opportunities that are building across both business segments. These opportunities reach across the entire OFSE portfolio, as well as in IET, most notably in LNG, Onshore/Offshore Production, and New Energy. + + + Second, we remain focused on optimizing our corporate structure and transforming the Baker Hughes organization to drive improvements in our margin and returns profile. While we are still in the early stages of this process, we are increasingly confident in driving at least $150 million of cost-out by the end of 2023 as well as structural changes that will simplify the organization and enhance our operational efficiency. + + + The cost-out and integration initiatives we are undertaking over the next 12 to 18 months will play a key role in hitting our EBITDA margin targets of 20% in OFSE and IET over the next two to three years, and delivering Return on Invested Capital of 15% and 20%, for OFSE and IET respectively. + + + Third, we continue to develop our portfolio of new energy technologies. We have been particularly active over the last few years acquiring and investing in multiple new technologies around hydrogen, carbon capture, clean power, and geothermal. We are now transitioning more towards the incubation of the existing portfolio. This will enable our new energy portfolio to achieve its full commercial potential, with a particular focus on high impact technologies like NET Power and Mosaic. + + + Finally, we will continue to focus on all these initiatives and while also generating strong free cash flow and returning 60% to 80% of this to shareholders through a combination of share buybacks and dividends. + + + In 2022, we increased our dividend for the first time since 2017. Going forward, our goal is to continue to increase shareholder returns with an emphasis on continuing to grow the dividend as the IET business experiences broader structural growth in revenue and earnings. + + + Turning to slide 7, I will provide an update on each of our segments. + + + In Oilfield Services and Equipment, the outlook remains promising with growth trends shifting more in favor of international and offshore markets, while North America activity levels off. Importantly, the team continues to execute well as supply chain pressures moderate and the pricing environment remains favorable. + + + Geographically, the Middle East retains the most promising outlook with activity scheduled to increase in multiple countries this year and likely next year. In Latin America and West Africa, offshore activity is driving growth in several countries and creating opportunities across our diverse portfolio. In North America, visibility remains limited given the current oil and gas price environment, and generally expect range bound activity from current levels over the course of 2023. + + + Within our OFSE product lines, we have seen strong growth for Well Construction, driven by opportunities across our drilling portfolio, and for CIM, where our completions portfolio continues to see solid improvement. + + + 3 + + + + + Baker Hughes Fourth Quarter 2022 - Earnings Conference Call Prepared Remarks + + + In Production Solutions, we saw strong volume growth and margin improvement in our chemicals business throughout the year as supply chain constraints continue to ease and profitability normalizes. For 2023, we expect further improvement in our chemicals business as margin levels normalize back to historical levels and our Singapore plant becomes fully operational. + + + Our legacy OFS segment executed well in the fourth quarter, and we were pleased to see them achieve 19.6% EBITDA margins, and 20% when normalizing for the impact of Russia. + + + In SSPS, order activity remains strong as offshore activity continues to pick up. Importantly, we saw good order traction in both subsea trees and Flexibles in the fourth quarter. After a record year in 2022 in Flexibles orders, we expect another strong year in 2023 as well as a significant increase in subsea trees awards. + + + We also continue to make progress on integrating SSPS into our OFSE segment, as well as restructuring the business to drive better profitability and returns. After a thorough review of the SSPS business, Maria Claudia and her team are finalizing plans to rationalize approximately 40% to 50% of the manufacturing capacity in Subsea Production Systems. These steps will be in addition to the cost savings gained from removing management layers and will largely come into effect in 2024. + + + For 2023, we expect OFSE to deliver double-digit revenue growth and solid improvement in margins as activity increases in multiple regions, inflationary pressures subside, we execute our cost-out program, and pricing remains favorable in most key markets. + + + Moving to IET, the fourth quarter generated record orders driven by multiple awards in LNG and multiple awards in Onshore/Offshore Production. Operationally, IET continues to navigate challenges in Gas Tech Services, as well as challenges in different parts of the supply chain, ranging from chips and circuit boards to gas engines, castings, and forgings. + + + Orders during the fourth quarter for Gas Technology illustrate the breadth and depth of its portfolio. + + + In LNG, we saw continued progress across our world-class franchise. During the quarter, we were pleased to be awarded another major order to provide an LNG system for the second phase of Venture Global's Plaquemines project. This order builds on an award in the third quarter of 2022 for another power island system. + + + Furthermore, this follows an award in the first quarter of 2022 for the first phase of Plaquemines and a similar contract for VG's Calcasieu Pass terminal in 2019, which are all part of a 70 MTPA master supply agreement. + + + In Onshore/Offshore Production, IET booked contracts for five different projects in Latin America and Sub-Saharan Africa worth almost $900 million on a combined basis. With these awards, IET maintains its leadership in the FPSO market by providing power generation systems, compression trains and pumps that totals more than 30 aeroderivative gas turbines, two steam turbines and 20 compressors of various sizes. + + + 4 + + + + + Baker Hughes Fourth Quarter 2022 - Earnings Conference Call Prepared Remarks + + + On the New Energy front, we were pleased to book an order from Malaysia Marine and Heavy Engineering to supply CO2 compression equipment to PETRONAS' Kasawari offshore carbon capture and sequestration project in Sarawak, Malaysia. The project is expected to be the world's largest offshore CCS facility, with capacity to reduce CO2 emissions by 3.3 MTPA. + + + Baker Hughes will deliver two trains of low-pressure booster compressors to enable CO2 removal through membrane separation technology, as well as two trains for reinjecting the separated CO2 into a dedicated storage site. + + + Orders in our Industrial Technology business continue to perform well with strong traction this quarter across Inspection and Pumps, Valves and Gears. In our Inspection business, we achieved significant commercial wins in the recovering aviation industry, including a record deal for visual inspection services in the Latin America region, as well as a number of orders for advanced ultrasonic testing systems with different customers in Asia Pacific. + + + In addition to solid growth in orders, we were pleased to see some signs of operational improvement in our Industrial Tech businesses, led by volume and margin increases in Condition Monitoring and Inspection. We expect this positive momentum to continue into 2023 as the chip shortage and supply chain issues start to abate and backlog convertibility recovers. + + + As we enter 2023, IET has a record backlog of $25 billion and a robust pipeline of new order opportunities in LNG, Onshore/Offshore, and New Energy, and we now expect IET orders in 2023 between $10.5 to $11.5 billion. Despite the supply chain challenges we are closely monitoring for both Gas Tech and Industrial Tech, we are well positioned to execute on this backlog to help drive significant revenue growth in 2023 and 2024. + + + While 2022 presented some unique challenges to Baker Hughes, it was also a pivotal year for us strategically and accelerated a number of changes in the organization. As we look at 2023 and beyond, I feel confident in the structural changes we are executing and our positioning to capitalize on the multi-year upstream spending cycle, the unfolding wave of LNG investment, and the acceleration in New Energy opportunities. + + + Across our entire enterprise, Baker Hughes is focused on significantly improving our margins and financial returns and meeting our customers' needs in a quickly changing energy landscape. Achieving these goals will require acute focus across the entire organization, as well as the depth and scale of global resources and engineering talent. + + + The culture of this company is unique in its diversity, its inclusiveness, and its principles, as well as its ability to adapt to change. Our team is focused on taking energy forward, transforming the way we operate, and achieving the margin and return targets we have laid out to help drive best- in-class shareholder value and returns. + + + With that, I will turn the call over to Nancy. + + + 5 + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Baker Hughes Company published this content on 23 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 17:23:01 UTC. + + diff --git a/news/BKR/2023.01.24/Baker Hughes : Fourth Quarter 2022 Earnings Conference Call Slides.txt b/news/BKR/2023.01.24/Baker Hughes : Fourth Quarter 2022 Earnings Conference Call Slides.txt new file mode 100644 index 0000000000000000000000000000000000000000..7700470a8aa917187129f3f61ea56994115ce346 --- /dev/null +++ b/news/BKR/2023.01.24/Baker Hughes : Fourth Quarter 2022 Earnings Conference Call Slides.txt @@ -0,0 +1,164 @@ + + + + + 4Q & FY 2022 Results + + + January 23, 2023 + + + + + Copyright 2023 Baker Hughes Company. All rights reserved. The information contained in this document is company confidential and proprietary property of Baker Hughes and its affiliates. It is to be used only for the benefit of Baker Hughes and may not be distributed, transmitted, reproduced, altered, or used for any purpose without the express written consent of Baker Hughes. + + + + + + + 2 + + + This presentation (and oral statements made regarding the subjects of this release) may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, (each a "forward-looking statement"). The words "anticipate," "believe," "ensure," "expect," "if," "intend," "estimate," "project," "foresee," "forecasts," "predict," "outlook," "aim," "will," "could," "should," "potential," "would," "may," "probable," "likely," and similar expressions, and the negative thereof, are intended to identify forward-looking statements. There are many + + + risks and uncertainties that could cause actual results to differ materially from our forward-looking statements. These + + + forward-looking statements are also affected by the risk factors described in the Company's annual report on Form 10-K for the period ended December 31, 2021 and those set forth from time to time in other filings with the Securities and Exchange Commission ("SEC"). The documents are available through the Company's website at: www.investors.bakerhughes.com or through the SEC's Electronic Data Gathering and Analysis Retrieval ("EDGAR") system at: www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statement. + + + The Company presents its financial results in accordance with GAAP; however, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. See the Appendix of this presentation for a reconciliation of GAAP to non-GAAP financial measures. + + + + + Copyright 2023 Baker Hughes Company. All rights reserved. + + + + + + Lorenzo Simonelli + + + Chairman & Chief Executive Officer + + + + + + + + + 4Q & FY 2022 RESULTS + + + + + 4 + + + + + + + + + + + + 4Q & FY 2022 Highlights + + + Continued OFSE margin improvement … legacy + + + OFS margins achieved 20% EBITDA target + + + Record IET orders of $4.3 billion in 4Q driven by + + + LNG, Onshore/Offshore, and New Energy + + + Initiated reorganization of Baker Hughes into + + +two leaner and more focused business segments + + + Increased the dividend to $0.19 per share and repurchased ~$100 million of common stock + + + Booked over $400M in New Energy orders, showing 50+% growth versus 2021 + + + + + Copyright 2023 Baker Hughes Company. All rights reserved. + + + Note: EBITDA is a non-GAAP measure - see earnings release and/or appendix for GAAP to non-GAAP reconciliations + + + + + + + MACRO OUTLOOK + + + Positive energy outlook for 2023, despite macro headwinds + + + Global economy likely weighed down by inflation and tightening monetary conditions + + + Global oil and gas spare capacity near historical lows… double digit upstream spending growth still anticipated in 2023 + + + China reopening + need to refill Europe's gas storage will keep LNG markets tight … supporting continued wave of project sanctions + + + Inflation Reduction Act and potential new EU legislation to support significant growth in New Energy investment + + + Copyright 2023 Baker Hughes Company. All rights reserved. + + + + + 5 + + + Early stages of multi- + + + year growth cycle in + + +energy … supported by underlying economics, security concerns and decarbonization goals + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Baker Hughes Company published this content on 23 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 15:58:08 UTC. + + diff --git a/news/BKR/2023.01.24/Halliburton tops Wall St. quarterly profit estimates.txt b/news/BKR/2023.01.24/Halliburton tops Wall St. quarterly profit estimates.txt new file mode 100644 index 0000000000000000000000000000000000000000..3ea73b09ca91c662e8ef88dc7226e0f7e214494f --- /dev/null +++ b/news/BKR/2023.01.24/Halliburton tops Wall St. quarterly profit estimates.txt @@ -0,0 +1 @@ +Brent crude averaged $88.62 a barrel during the fourth quarter, up about 11% from a year earlier, as sanctions on large oil producer Russia for its invasion of Ukraine have upended global supply routes.Meanwhile, average North America rig count, an early indicator of future output, for the Oct-Dec 2022 quarter rose to 965 from 720 from the previous year, according to Baker Hughes data.Halliburton also raised its first-quarter dividend by 33% to $0.16 per share.The Houston, Texas-based firm posted adjusted income of $656 million, or 72 cents per share, for the three months ended Dec. 31, compared with average analyst estimate of 67 cents per share.Market leader Schlumberger beat Wall Street estimates for fourth-quarter profit. Baker Hughes missed both quarterly profit and revenue estimates on Monday and said the global economy is expected to experience inflationary pressures and tightening monetary conditions. (Reporting by Arunima Kumar in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/BKR/2023.01.25/Baker Hughes 2023 Energy Transition : Confidence To Hit Net-Zero Emissions Goals Stable ...txt b/news/BKR/2023.01.25/Baker Hughes 2023 Energy Transition : Confidence To Hit Net-Zero Emissions Goals Stable ...txt new file mode 100644 index 0000000000000000000000000000000000000000..a67c9c309ca89ae29590464f4c03070e6aad627f --- /dev/null +++ b/news/BKR/2023.01.25/Baker Hughes 2023 Energy Transition : Confidence To Hit Net-Zero Emissions Goals Stable ...txt @@ -0,0 +1 @@ +- Survey of over 500 global executives cites economic instability as greatest threat to investments in energy transition technologies- Majority of those surveyed (57%) investing or plan to invest in more LNG- Net-zero goals to be achieved through partnerships, technology innovation, and new investmentHOUSTON and LONDON - Baker Hughes (NASDAQ: BKR), an energy technology company, on Wednesday launched its 2023 Energy Transition Pulse report - a survey of 555 global senior executives to assess the industrial sector's ability to focus on advancing cleaner energy amidst geopolitical and economic challenges.The report, produced over a two-year period by FT Longitude, the specialist research and content marketing division of the Financial Times Group, found that while 41% of respondents cited economic uncertainty and rising inflation as hurdles to energy transition investments, confidence in net-zero emissions preparedness remains strong across most of the globe."While we now face heightened need for more energy sources to address the energy trilemma of security, sustainability and affordability, I am pleased this report shows that like Baker Hughes, the majority of our global peers remain focused on attaining our individual net-zero emissions goals by 2050," said Baker Hughes Chairman and CEO Lorenzo Simonelli. "With the demand for hydrocarbons continuing for decades, it is critical to apply the technology we have today to reduce emissions."Despite geopolitical challenges and the energy security crisis, the report found that in 2022, more organizations say they are prepared to achieve net-zero emissions by 2050 than they did in 2021."The big learning from this crisis is that we really need to rethink the type and the way we use our energy," said Ilham Kadri, CEO and president of the Executive Committee of Solvay. "It's painful in the short term, but it doesn't change our climate initiatives."In response to the energy crisis largely brought about in 2022, the majority of respondents (57%) are investing or planning to make new investments in gas/liquefied natural gas (LNG) to address energy security. Meeting those supply demands and progressing the energy transition will require collaborations and partnerships between government, society, industry and the wider business community."Hydrocarbons are going to play a role for decades, and it's crucial we apply the technology that we have today and work together as partners to reduce those emissions," Simonelli said.Baker Hughes and FT Longitude surveyed 555 executives in oil and gas, renewable energy and hard-to-abate industrial sectors - such as cement and mining - across 21 countries in the third and fourth quarters of 2022. The preceding survey was conducted in the fourth quarter of 2021, polling 500 executives across 20 countries.The full 2023 Baker Hughes Energy Transition Pulse may be found here. Baker Hughes will share more insights and learnings next week at its Annual Meeting 2023 in Florence, Italy.About Baker HughesBaker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward - making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.About FT Longitude:FT Longitude is a specialist thought leadership agency that is owned by the Financial Times. We combine strategy, research, content and activation services to produce real thought leadership that enables our clients to genuinely influence and inspire their audience. We work with a wide range of the world's most prestigious B2B brands across Europe, the US and Asia Pacific. Our 80+ clients are concentrated in the professional services, financial services and technology sectors, but also stretch into energy, infrastructure, manufacturing and other sectors. Headquartered in London, the company was founded in 2011 and was selected as one of Chief Marketer 200, Top Marketing Agencies of 2020, an Inc. 5000 Europe in 2018, an FT 1000 company in 2017, and a 2016 Leap 100 high growth UK company by City A.M. and Mishcon de Reya. It is led by founders Rob Mitchell (CEO), James Watson (COO) and Gareth Lofthouse (Chief Revenue Officer).Visit longitude.ft.com, follow @FTLongitude on Twitter, or connect on LinkedIn.###For more information, please contact:Media RelationsAdrienne M. Lynch+1 713-906-8407adrienne.lynch@bakerhughes.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/BKR/2023.01.25/Baker Hughes Declares Quarterly Dividend.txt b/news/BKR/2023.01.25/Baker Hughes Declares Quarterly Dividend.txt new file mode 100644 index 0000000000000000000000000000000000000000..6437f124e4ea3f788b8ee11b1271aa46f08e2c99 --- /dev/null +++ b/news/BKR/2023.01.25/Baker Hughes Declares Quarterly Dividend.txt @@ -0,0 +1 @@ +HOUSTON and LONDON, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR) announced today that the Baker Hughes Board of Directors declared a cash dividend of $.19 per share of Class A common stock payable on Feb. 17, 2023 to holders of record on Feb. 6, 2023.About Baker Hughes:Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.For more information, please contact:Investor RelationsJud Bailey+1 281-809-9088investor.relations@bakerhughes.comMedia RelationsThomas Millas+1 713-879-2862thomas.millas@bakerhughes.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/BKR/2023.01.25/SLB warns of business risks from Western sanctions as Russia revenue rises.txt b/news/BKR/2023.01.25/SLB warns of business risks from Western sanctions as Russia revenue rises.txt new file mode 100644 index 0000000000000000000000000000000000000000..6f693c6f0671a5f57808880692b0cee63e5f9a43 --- /dev/null +++ b/news/BKR/2023.01.25/SLB warns of business risks from Western sanctions as Russia revenue rises.txt @@ -0,0 +1,30 @@ +Jan 25 (Reuters) - Top oilfield services firm SLB +on Wednesday warned of business risks associated with +additional sanctions on Russia, even as its revenue there +continued to grow, according to a regulatory filing.SLB boosted its business in Russia last year, as oil prices +surged and rivals fled following Western sanctions on Russia for +its invasion of Ukraine. Russia represented 6% of SLB's +full-year 2022 revenue, or $1.69 billion, the company said in an +annual filing.Russia accounted for 5% of total company revenues in the +quarter before Moscow invaded Ukraine, according to a previous +company filing. It began disclosing more details around Russian +revenue and assets following the war.The Curacao-domiciled company, which suspended new +investments and technology deployment in Russia last March, said +it continued to "actively monitor the dynamic situation in +Ukraine and applicable laws, sanctions and trade control +restrictions resulting from the conflict," according to the +filing.It continued to work for Russian energy companies +including Lukoil, Rosneft , Gazprom +as rivals Halliburton and Baker Hughes exited or sold +off their operations.SLB said the carrying value of its net assets in Russia +totaled roughly $700 million at the end of 2022, down from $900 +million at the end of the third quarter 2022. It closed out the +year with $300 million in receivables, down from $400 million in +third quarter.The oilfield company also said it had roughly $1 billion in +unpaid bills related to Mexico, according to the filing. It said +the receivables, from its primary customer in Mexico that was +not identified, were not in dispute. It has not historically +experienced any material write-offs resulting from uncollected +bills from this firm, it said.SLB did not immediately respond to an email seeking more +detail on the filing. +(Reporting by Liz Hampton in Denver; Editing by Anna Driver) \ No newline at end of file diff --git a/news/BKR/2023.01.26/Oil prices settle lower on stronger supply outlook.txt b/news/BKR/2023.01.26/Oil prices settle lower on stronger supply outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..0e84f4863dda2846ee548939bb3edcbc4bb99f71 --- /dev/null +++ b/news/BKR/2023.01.26/Oil prices settle lower on stronger supply outlook.txt @@ -0,0 +1,32 @@ +Jan 27 (Reuters) - Oil prices settled lower on Friday, +making their weekly finish flat to lower, as indications of +strong Russian oil supply offset better-than-expected U.S. +economic growth data, strong middle distillate refining margins +and hopes of a rapid recovery in Chinese demand.Brent futures settled down 81 cents, or 0.9%, at +$86.66 per barrel, up just 3 cents from last week's settlement. +U.S. crude fell $1.33, or 1.6 %, to settle at $79.68, 2% +lower on the week.Oil loadings from Russia's Baltic ports are set to rise by +50% this month from December as sellers try to meet strong +demand in Asia and benefit from rising global energy prices, +traders said and Reuters calculations showed.Urals and KEBCO crude oil loadings from Ust-Luga over Feb. +1-10 may rise to 1.0 million tonnes from 0.9 million in the plan +for the same period of January, traders also."If Russian supply remains strong heading into next month, +oil is probably going to continue to trend lower," said John +Kilduff, partner at Again Capital LLC in New York.He added that profit taking ahead of the weekend may also +have driven prices lower.U.S. energy firms this week kept oil and natural gas rigs +steady at 771, energy services firm Baker Hughes Co BKR.O said +in its closely followed report on Friday.Meanwhile, OPEC+ delegates meet next week to review crude +production levels, with sources from the oil producer group +expecting no change to current output policy.The U.S. Federal Reserve's next decision on interest rates +will be made at meeting over Jan. 31 and Feb. 1 against a +backdrop of a dip in inflation and gross domestic product that +grew by a faster than expected 2.9% in the fourth quarter.A 4.2 million barrel build this week in stocks at Cushing, +the pricing hub for NYMEX oil futures, also weighed on the +market.In China, critically ill COVID-19 cases are down 72% from a +peak early this month while daily deaths among COVID-19 patients +in hospitals have dropped by 79% from their peak, pointing to a +normalisation of the Chinese economy and boosting expectations +of a recovery in oil demand. +(Additional reporting by Shadia Nasralla; Additional reporting +by Julia Payne in London and Sudarshan Varadhan in Singapore; +Editing by David Goodman, Kirsten Donovan and David Gregorio) \ No newline at end of file diff --git a/news/BKR/2023.01.27/U.S. drillers leave oil and gas rigs unchanged - Baker Hughes.txt b/news/BKR/2023.01.27/U.S. drillers leave oil and gas rigs unchanged - Baker Hughes.txt new file mode 100644 index 0000000000000000000000000000000000000000..ad1b8d2c4a684e3afc01288df19b580adc30c157 --- /dev/null +++ b/news/BKR/2023.01.27/U.S. drillers leave oil and gas rigs unchanged - Baker Hughes.txt @@ -0,0 +1,23 @@ +Jan 27 (Reuters) - U.S. energy firms this week kept oil +and natural gas rigs steady, energy services firm Baker Hughes +Co said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future +output, remains at 771 in the week to Jan. 27. + Baker Hughes said that puts the total rig count up 161 rigs, +or 26%, over this time last year.U.S. oil rigs fell by 4 to 609 this week, their lowest +since October, while gas rigs rose 4 to 160, their highest since +September.For the month, total oil and gas rigs were down by 8 +rigs, the biggest monthly decline since July 2020. It also put +the total count down for two months in a row for the first time +since July 2020.U.S. oil futures were down about 1% so far this +year after gaining about 7% in 2022.Overall, U.S. crude production was on track to rise from +11.9 million barrels per day (bpd) in 2022 to 12.4 million bpd +in 2023 and 12.8 million bpd in 2024, according to federal +energy data. That compares with a record 12.3 million bpd in +2019.Even though energy companies boosted spending in 2021 and +2022, crude output remained below 2019's record because many +firms have focused more on returning money to investors and +paying down debt rather than boosting production.Even when producers may have been looking to boost output, +analysts said soaring inflation and supply disruptions in 2022 +forced many energy firms to spend the extra money on more +expensive equipment and rising labor costs. +(Reporting by Scott DiSavino; Editing by Aurora Ellis) \ No newline at end of file diff --git "a/news/BKR/2023.01.27/U.s. drillers add natgas rigs last week to highest since septemb\342\200\246.txt" "b/news/BKR/2023.01.27/U.s. drillers add natgas rigs last week to highest since septemb\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..bd78e5ccb3f4e42541b10c054cc504d1e14d2066 --- /dev/null +++ "b/news/BKR/2023.01.27/U.s. drillers add natgas rigs last week to highest since septemb\342\200\246.txt" @@ -0,0 +1 @@ +U.S. DRILLERS ADD NATGAS RIGS LAST WEEK TO HIGHEST SINCE SEPTEMBER- BAKER HUGHES \ No newline at end of file diff --git "a/news/BKR/2023.01.27/U.s. drillers cut oil and natgas rigs for second month in a row\342\200\246.txt" "b/news/BKR/2023.01.27/U.s. drillers cut oil and natgas rigs for second month in a row\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..cf187ab873e9fe3818d2891f493facefef85548f --- /dev/null +++ "b/news/BKR/2023.01.27/U.s. drillers cut oil and natgas rigs for second month in a row\342\200\246.txt" @@ -0,0 +1 @@ +U.S. DRILLERS CUT OIL AND NATGAS RIGS FOR SECOND MONTH IN A ROW - BAKER HUGHES \ No newline at end of file diff --git "a/news/BKR/2023.01.27/U.s. drillers cut oil rigs last week to lowest since october - b\342\200\246.txt" "b/news/BKR/2023.01.27/U.s. drillers cut oil rigs last week to lowest since october - b\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..a6407d7ad1e7bd15818238d1f14fb9dd67f7d920 --- /dev/null +++ "b/news/BKR/2023.01.27/U.s. drillers cut oil rigs last week to lowest since october - b\342\200\246.txt" @@ -0,0 +1 @@ +U.S. DRILLERS CUT OIL RIGS LAST WEEK TO LOWEST SINCE OCTOBER - BAKER HUGHES \ No newline at end of file diff --git "a/news/BKR/2023.01.27/U.s. drillers leave weekly oil and natgas rigs unchanged - baker\342\200\246.txt" "b/news/BKR/2023.01.27/U.s. drillers leave weekly oil and natgas rigs unchanged - baker\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..ad0a96d0b4b75252f13681fca8bc42f50db328ba --- /dev/null +++ "b/news/BKR/2023.01.27/U.s. drillers leave weekly oil and natgas rigs unchanged - baker\342\200\246.txt" @@ -0,0 +1 @@ +U.S. DRILLERS LEAVE WEEKLY OIL AND NATGAS RIGS UNCHANGED - BAKER HUGHES \ No newline at end of file diff --git a/news/BKR/2023.01.30/Baker Hughes : AM 2023 - CTS Overview.txt b/news/BKR/2023.01.30/Baker Hughes : AM 2023 - CTS Overview.txt new file mode 100644 index 0000000000000000000000000000000000000000..4b9a8b4893a1bc080b9e6d9b6989ec127a729e83 --- /dev/null +++ b/news/BKR/2023.01.30/Baker Hughes : AM 2023 - CTS Overview.txt @@ -0,0 +1,341 @@ + + + + + Baker Hughes + + + Climate Technology Solutions + + + Chris Barkey, CTO, Industrial & Energy Technology Alessandro Bresciani, SVP - Climate Technology Solutions + + + Tom Harper, VP - Commercial Development, Climate Technology Solutions + + + January 30, 2023 + + + + + Copyright 2023 Baker Hughes Company. All rights reserved. The information contained in this document is company confidential and proprietary property of Baker Hughes and its affiliates. It is to be used only for the benefit of Baker Hughes and may not be distributed, transmitted, reproduced, altered, or used for any purpose without the express written consent of Baker Hughes. + + + + + + 2 + + + This presentation (and oral statements made regarding the subjects of this release) may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of + + + 1934, as amended, (each a "forward-looking statement"). The words "anticipate," "believe," "ensure," "expect," "if," "intend," "estimate," "project," "foresee," "forecasts," "predict," "outlook," "aim," "will," "could," "should," "potential," "would," "may," "probable," "likely," and similar expressions, and the negative thereof, are intended to identify forward-looking statements. There are many risks and uncertainties that could cause actual results to differ materially from our forward-looking statements. These forward-looking statements are also affected by the risk factors described in the Company's annual report on Form 10-K for the period ended December 31, 2021 and those set forth from time to time in other filings with the Securities and Exchange Commission ("SEC"). The documents are available through the Company's website at: www.investors.bakerhughes.com or through the SEC's Electronic Data Gathering and Analysis Retrieval ("EDGAR") system at: www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statement. + + + Copyright 2023 Baker Hughes Company. All rights reserved. + + + + + + + + + CLIMATE TECHNOLOGY SOLUTIONS + + + + + 3 + + + + + + Decades of experience working with natural gas, H2 & CO2 + + + Uniquely placed to play a leading role in the decarbonization of the energy & industrial sectors + + + + + + Baker Hughes Today + + +#1 provider of liquefaction equipment and services + + +60 years of experience working with Hydrogen + + + Leading provider of compression equipment for all gases + + + Condition monitoring specialist - driving equipment reliability & efficiency + + + + + Early Life of CTS + + +~$400M of New Energy orders in 2023 + + + Deploying existing equipment in CCUS, H2, Clean Power & + + + Emissions Management applications + + + Leveraging relationships with energy companies to play a leading role in early-stage projects + + + + + Future CTS + + +$6-7B New Energy orders opportunity by 2030 + + + Global leader in energy efficiency and carbon abatement technologies + + + Successfully incubated and commercially deployed technology investments + + + Diverse customer base across energy & industrial sectors + + + + + + Copyright 2023 Baker Hughes Company. All rights reserved. + + + + + + + + + + CLIMATE TECHNOLOGY SOLUTIONS + + + + + 4 + + + + + + + + + + + + CTS - our approach + + + Leveraging our existing technologies and market presence, while we build for the future + + + OUR APPROACH + + + + + +Enter new markets & penetrate + + + existing customer base + + + Decarbonize existing O&G customer operations with existing technology + + + +Leverage installed base + + +Emissions Abatement leveraging proven technologies + + + + Enter new industrial markets + + + +Create new cross-industry partnerships + + +Build new industrial sales + + + + Building new business models & + + + offerings for a "forming" market + + + +Creating a differentiated position as the market evolves + + + + Copyright 2023 Baker Hughes Company. All rights reserved. + + + + +Invest in future, innovative + + + technologies + + + Focused on adding capabilities in areas of CCUS, H2 & Clean Power + + + The future of gas fired power generation + + + Low LCOC1 for small emitters + + + Net-zero H2 + + + Gen II Solvent for large scale Carbon Capture + + + MOFs2 platform for Direct + + + Air Capture + + + + Additional 7 investments + + + + +Leverage technology expertise to commercialize investments + + + World leading R&D capability + + + +Advanced manufacturing & materials engineering + + +Turbomachinery, Fluid dynamics, Roto dynamics & combustion + + + + Global network of test centers + + + +Bench Scale , Full Scale & Field Pilot testing facilities + + + + Global supply chain and manufacturing scale + + + + + + +Levelized Cost of Capture + + +Metal-organicFramework + + + + + + + + + + + CLIMATE TECHNOLOGY SOLUTIONS + + + + + 5 + + + + + + + + + + + + Market activity - strategic collaborations + + + A sample of our successes so far + + + + + + +Green Hydrogen, NEOM, Saudi Arabia - Providing advanced hydrogen compression technology + + +Blue Hydrogen, Edmonton, Alberta, Canada - Providing 100% hydrogen fueled NovaLT 16 gas turbine technology to APD + + + + + + +CCUS, Kasawari, Sarawak, Malaysia - Separate and compress 3.3 MTPA of CO2 at the offshore CCS platform, the worlds largest offshore CCS facility + + + + + + + Copyright 2023 Baker Hughes Company. All rights reserved. + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Baker Hughes Company published this content on 30 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 January 2023 12:43:08 UTC. + + diff --git a/news/BKR/2023.01.30/Baker Hughes : Forms Strategic Digital Collaboration with Corva to Enhance Customer&hellip...txt b/news/BKR/2023.01.30/Baker Hughes : Forms Strategic Digital Collaboration with Corva to Enhance Customer&hellip...txt new file mode 100644 index 0000000000000000000000000000000000000000..10c89bbe0acf1cc00ddcaa1bb20c4359c07f9596 --- /dev/null +++ b/news/BKR/2023.01.30/Baker Hughes : Forms Strategic Digital Collaboration with Corva to Enhance Customer&hellip...txt @@ -0,0 +1,66 @@ + + + + +Baker Hughes to become reseller of Corva's 100+ well construction software applications Corva provides a superior user experience with mission-critical data and analytics to optimize operational performance + + +Baker Hughes' minority investment in Corva will diversify and grow its oil and gas digital ecosystem offerings for customers + + +FLORENCE, Italy - Jan. 30, 2023 - Baker Hughes, an energy technology company, announced Monday a strategic investment and collaboration with Corva, a Houston-based company that delivers cloud-based well construction digital solutions, to bolster oil and gas customers' rig visualization and drive enhanced decision making across the well lifecycle. + +Corva provides an outstanding user experience and industry-leading analytics for over 100 well construction applications through the use of offset and real-time data, enabling customers to save money by enhancing their well construction operations. Its open development platform also encourages innovation by operators and service providers, resulting in an all-inclusive solution that addresses the customer's core need of reducing well construction costs and improving wellbore placement for more efficient and intelligent oil and gas operations. + + +Baker Hughes has provided a minority investment in Corva and will become an international reseller of Corva well construction products for global customers, as well as being the exclusive international reseller for Corva in certain regions. By bringing this cutting-edge digital solution to customers, Baker Hughes continues to expand its well construction digital offerings for the oil and gas industry. + + +Together, Baker Hughes and Corva plan to deliver a powerhouse of digital applications for oil and gas operations that drive better outcomes for customers. In addition to its investment and reseller agreement, Baker Hughes will introduce new applications on the Corva App Store to offer customers access to its oilfield expertise. + + +"With our century-long expertise delivering advanced oilfield solutions, we are pleased to join forces with Corva, a leader in well construction applications, to drive more intelligent and efficient operations for our customers," said Maria Claudia Borras, executive vice president of Oilfield Services and Equipment (OFSE) at Baker Hughes. "At Baker Hughes, we see digital as a language that - when combined with our domain expertise - helps us speak to our customers and differentiate OFSE's core service offerings. With our investment and collaboration, customers can expect a truly collaborative digital oilfield, allowing us to deliver enhanced digital capabilities and ensure customers can drill faster, better and more accurately." + + +"Corva is excited about the strategic collaboration with Baker Hughes as it creates an opportunity to enhance digital capabilities across well construction globally," said Ryan Dawson, founder and CEO of Corva. "This collaboration joins Corva's market-leading digital offerings with Baker Hughes's technology leadership for a superior end user experience that results in long-term value for our customers. Baker Hughes will also leverage Corva's Dev Center to broaden well construction solutions in the Corva App Store." + + +Baker Hughes customers can experience the benefits of this strategic collaboration immediately by leveraging Corva's existing applications in the international market. The two companies will also continue to develop and expand their offerings in the well construction digital space over time. + + +About Baker Hughes + + +Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward - making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com. + + +About Corva + + +Headquartered in Houston, Corva is the App Store for Energy, empowering operators and service companies to build solutions at the speed of business. The software developer pioneered a first-of-its-kind cloud-based platform to monitor drilling, completions, and geoscience operations in real time, avoid hazards, maximize crew performance, and drive quantifiable financial efficiencies. Corva's platform supports wellsite operations worldwide on hundreds of rigs and from remote operations centers. Accelerating the expansion of its app store, Corva Dev Center enables customers or third-party developers to rapidly create low-code app solutions with capital efficiency to support their operational needs, reducing development cycles from months to days. For more information, please visit corva.ai. + + +Media Relations + + +Victoria Ingalls +1-346-269-5764 Victoria.ingalls@bakerhughes.com + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Baker Hughes Company published this content on 30 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 January 2023 05:13:05 UTC. + + diff --git a/news/BKR/2023.01.30/Baker Hughes and Fortescue Future Industries to Collaborate on Exploring Green Hydrogen...txt b/news/BKR/2023.01.30/Baker Hughes and Fortescue Future Industries to Collaborate on Exploring Green Hydrogen...txt new file mode 100644 index 0000000000000000000000000000000000000000..97ba105d6c824ad5e5ba6f98f19e59aed6251ebe --- /dev/null +++ b/news/BKR/2023.01.30/Baker Hughes and Fortescue Future Industries to Collaborate on Exploring Green Hydrogen...txt @@ -0,0 +1 @@ +FLORENCE, Italy, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR) announced Monday a memorandum of understanding (MoU) with Fortescue Future Industries (FFI) to jointly explore potential opportunities for the scale up and adoption of novel technology solutions for green hydrogen, green ammonia and geothermal projects. The companies see new pathways to accelerate the energy transition thanks to their respective expertise and portfolio of technologies on new projects.For hydrogen and ammonia development, the collaboration will leverage Baker Hughes’ expertise and technology related to liquefaction and compression, turboexpanders and hydrogen-fueled turbines. For geothermal, Baker Hughes will provide its expertise for existing technologies in geothermal subsurface analysis, geothermal well services, emissions measurement, monitoring and carbon reinjection, as well as digital solutions for asset performance management and process optimization.“FFI and Baker Hughes share ambitions for transforming and accelerating the energy transition,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “Our portfolio of technologies can help place both companies at the forefront of tackling climate change with practical and implementable solutions. We are excited to support FFI in its ambitions for a more sustainable future.”The companies aspire to bring early-stage technologies to commercial scale faster than what would otherwise be possible. These technologies will potentially benefit the reduction of greenhouse gas emissions in both energy production and hard-to-abate industrial sectors including mining, steel and cement.“There is enormous demand for green hydrogen and green energy, and engineering solutions such as those pioneered by Baker Hughes are vital to increasing supply,” said Mark Hutchinson, CEO of Fortescue Future Industries. “We look forward to working with Baker Hughes on a variety of projects that will help to enable industries and the world to move beyond fossil fuels.”The MoU was announced at the 23rd Baker Hughes Annual Meeting in Florence, Italy. With more than 1,600 attendees, the Annual Meeting is a premier convening event for energy and broader industry leaders to engage on thoughtful dialogue on the changing energy landscape and practical solutions to address climate change concretely while ensuring access to secure and affordable energy for all. For more information, visit the Annual Meeting website.About Baker HughesBaker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.For more information, please contact:Media Relations Chiara Toniato+39 346 382 3419Chiara.toniato@bakerhughes.com Investor Relations: Jud Bailey+1-281-809-9088investor.relations@bakerhughes.comA photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d925bf89-4221-48ad-a66a-c9b011d65b5d2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/BKR/2023.01.30/Caspian Sunrise notes oil flow at deep well 802 before completion.txt b/news/BKR/2023.01.30/Caspian Sunrise notes oil flow at deep well 802 before completion.txt new file mode 100644 index 0000000000000000000000000000000000000000..a4fe65ce75522e95d21c592d8b358900c82c728e --- /dev/null +++ b/news/BKR/2023.01.30/Caspian Sunrise notes oil flow at deep well 802 before completion.txt @@ -0,0 +1 @@ +(Alliance News) - Caspian Sunrise PLC on Monday said that its deep well 802 at the BNG contract area in the south-west of Kazakhstan is flowing at between 700 to 900 barrels of oil per day, as oil was discovered before the well was completed.Caspian Sunrise is a Kazakhstan-focused oil & gas exploration and production company.The company said that oil was discovered earlier than expected at a depth of 3,900 metres, before completion of the well. It added that advisers provided Caspian "with the highest estimate of success for any of our BNG deep wells drilled to date." As oil was discovered sooner than anticipated, this led to the company drilling a new side-track from a depth of 2,416 metres to about 4,100 metres, to target the oil at the higher level previously encountered.Caspian explained that about 100 metres remain to be drilled to complete the side-track. The company continues to work with Texas-based oil field services company Baker Hughes Co to stabilise the well. Caspian's current total production from the BNG contract area is over 3,000 barrels of oil per day. Caspian Sunrise shares were 16% higher at 5.96 pence each in London on Monday morning.By Tom Budszus, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/BKR/2023.02.02/Europeans bullish after ECB; TIM in bullish trend.txt b/news/BKR/2023.02.02/Europeans bullish after ECB; TIM in bullish trend.txt new file mode 100644 index 0000000000000000000000000000000000000000..6ee7ac49c0053016782de8b89530ae05e26e6f14 --- /dev/null +++ b/news/BKR/2023.02.02/Europeans bullish after ECB; TIM in bullish trend.txt @@ -0,0 +1 @@ +(Alliance News) - European stock markets closed on Thursday with bullish trends, on the day the European Central Bank raised interest rates by 50 basis points-as widely expected-and hinting that there will be a similar increase at its next meeting in March. Although the ECB did not provide a more accommodative tone like its counterpart in the United States and the United Kingdom, risk appetite remained buoyed by the narrative that the tightening cycle is coming to an end. In the U.S. on Wednesday, the Fed reduced the magnitude of rate hikes as expected--going up only 25 bps--while acknowledging that the central bank has made progress in fighting inflation. However, it hinted at further increases at future meetings.Thus, the FTSE Mib closed in the green by 1.5 percent at 27,100.62.Among the smaller listings, the Mid-Cap closed up 1.1 percent to 44,460.60, the Small-Cap in the green by 0.9 percent to 29,945.63, and Italy Growth in the green by 0.5 percent to 9,542.98.In Europe, Paris's CAC 40 closed up 1.4 percent, London's FTSE 100 picked up 0.8 percent, while Frankfurt's DAX 40 finished in the green by 2.2 percent.On the main list of Piazza Affari, Telecom Italia moved ahead 9.5 percent to EUR0.2870. As Francesco Bonazzi writes in Alliance News, "after last night's anticipations, Telecom Italia confirmed this morning that it has received a non-binding offer from KKR for a stake in a newly formed company that will comprise the fixed network perimeter, including FiberCop, and the controlling stake in Telecom Sparkle, which owns the submarine cables and ensures, among others, internet services to Israel." "The stake in NetCo will be a majority stake and the acquisition of KKR would result in the loss of vertical integration with respect to TIM. The value of the offer, according to sources close to the deal, would be EUR20 billion," writes the Alliance News columinist. Ferrari -- up 7.3 percent -- announced on Thursday its preliminary consolidated results for the fourth quarter and twelve months ended December 31, 2022, reporting a full-year net profit of EUR939 million, up 13 percent from the previous year, when it amounted to EUR833 million. As for fourth-quarter net income, this stands at EUR221 million in 2022 from EUR214 million in fourth-quarter 2021.Amplifon, on the other hand, rises 7.8 percent, following eve's green with 1.5 percent. CNH Industrial -- down 7.5 percent -- on Thursday released its fourth-quarter and full-year 2022 results, its first as a player in Agriculture and Construction, confirming that the board intends to recommend an annual dividend per share of EUR0.36. In the 12 months to Dec. 31, the group made a net profit of USD2.04 billion up from USD1.80 billion in 2021.The company also announced that the board of directors has decided to delist from Euronext Milan and "that shareholders will benefit more from listing on the NYSE only," as the company explained in a note.On the Mid-Cap, Sesa advances 6.7 percent. The stock is trading high with nearly 50,000 units traded, compared with a three-month daily average of about 14,800. High quarters also on Mutuionline, which scores a plus 5.2 percent. The company is proceeding with its buyback program, where it most recently announced Monday evening that it has purchased ordinary shares for a total value of EUR107,000 or so. Among the bearish minority, Saras gives up 9.7 percent, reversing course after four bearish sessions. Industrie De Nora closes 3.5 percent in the red after eve's gain of 2.9 percent. The company on Thursday reviewed preliminary data as of Dec. 31, letting it know it reported consolidated revenues of more than EUR850 million from EUR615.9 million in 2021 and marking a 38 percent increase.On the Small-Cap, good buying on Alkemy, which closes ahead 2.7 percent. The company announced Wednesday that it has launched an internal division dedicated to funds, "able to support the strategy and develop the business of the investees in its portfolio with the aim of accelerating their growth by making the most of all the levers of digital," as explained in a note.Eurotech, on the other hand, rises 4.5 percent with assets on the month rising to 16 percent. Geox - up 0.5 percent - shared preliminary full-year 2022 results on Thursday, reporting revenues of EUR735.5 million up 21 percent from EUR608.9 million in 2021. Net financial position as of Dec. 31, 2022 is negative EUR49.8 million from minus EUR64.3 million as of Dec. 31, 2021.On the bearish front, Eems is reported to be down, giving up 0.5 percent, replicating the 2.3 percent red with which it closed the previous session.Among SMEs, Almawave advances with 5.0% on the heels of the 1.3% gain on the eve. CleanBnB ahead 3.4% to EUR1.06 after six sessions closed on the bearish side. Pharmacosmo, on the other hand, advanced 4.6%, rearing its head after two bearish sessions. Confinvest - up 1.0 percent - announced Thursday that it had signed a partnership with Fabrick - the first player established in Italy with the aim of fostering open banking - aimed at including Conto Lingotto in the services offered by Fabrick.In New York-with stock exchanges trading in full swing-the Dow is giving up 0.4 percent, the Nasdaq is up 2.9 percent, and the S&P 500 is marking a 1.4 percent green. Among currencies, the euro changes hands at USD1.0917 versus USD1.0918 at Wednesday's close. In contrast, the pound is worth USD1.2255 from USD1.2302 last night.Among commodities, Brent crude is worth USD82.70 per barrel compared to USD85.07 per barrel on Wednesday evening. Gold, on the other hand, trades at USD1,919.70 an ounce from USD1,924.75 an ounce last session.Friday's macroeconomic calendar will feature China's services PMI at 0245 CET, while from Italy it will be released at 0945 CET. Five minutes apart will then come from France, Germany, and finally at 1000 CET from the Eurozone. At 1030 CET, that of the United Kingdom will be released instead.At 1100 CET, from the Eurozone, coming the producer price index. From the US, at 1430 CET the unemployment and nonfarm payrolls, at 1545 CET the manufacturing PMI and at 1900 CET the report from Baker Hughes on drilling rigs.At 2130 CET, as usual on Friday, the COT Report. Among companies, results from Intesa Sanpaolo are expected. By Maurizio Carta, Alliance News reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/BKR/2023.02.02/Oil falls about 3% as strong U.S. jobs data prompt interest rate concerns.txt b/news/BKR/2023.02.02/Oil falls about 3% as strong U.S. jobs data prompt interest rate concerns.txt new file mode 100644 index 0000000000000000000000000000000000000000..524ae138ee351334f7faf51c2a537f059c8c9293 --- /dev/null +++ b/news/BKR/2023.02.02/Oil falls about 3% as strong U.S. jobs data prompt interest rate concerns.txt @@ -0,0 +1,44 @@ +*Brent and WTI post weekly declines of nearly 8%*U.S. reports blowout job growth*EU agrees on price caps on Russian refined oil products*Russia says EU oil products ban will unbalance marketsNEW YORK, Feb 3 (Reuters) - Oil prices fell to over +three-week lows on Friday in a volatile session, after strong +U.S. jobs data raised concerns about higher interest rates and +as investors sought more clarity on the imminent EU embargo on +Russian refined products.Brent crude futures fell $2.23, or 2.7%, to $79.94 a +barrel, after rising to a session high of $84.20. It hit a +session low of $79.72, its lowest since Jan. 11.U.S. West Texas Intermediate crude (WTI) ended down +$2.49, or 3.3%, at $73.39, after trading between $78.00 and +$73.13, its lowest since Jan. 5.Brent registered a 7.8% decline this week while WTI dropped +7.9%.U.S. job growth accelerated sharply in January amid a +persistently resilient labour market, but a further moderation +in wage gains should give the Federal Reserve some comfort in +its fight against inflation."The market can't decide whether it should be nervous about +a recession or more worried about the Federal Reserve being +aggressive with interest rates," said Phil Flynn, analyst at +Price Futures Group.The U.S. central bank on Wednesday scaled back to a milder +rate increase than those over the past year, but policymakers +also projected that "ongoing increases" in borrowing costs would +be needed.Increases in interest rates in 2023 are likely to weigh on +the U.S. and European economies, boosting fears of an economic +slowdown that is highly likely to dent global crude oil demand, +said Priyanka Sachdeva, market analyst at Phillip Nova.European Union countries agreed to set price caps on Russian +refined oil products to limit Moscow's funds for its invasion of +Ukraine, the Swedish presidency of the EU said on Friday.EU diplomats said the price caps are $100 per barrel on +products that trade at a premium to crude, principally diesel, +and $45 per barrel for products that trade at a discount, such +as fuel oil and naphtha.The Kremlin said the EU embargo on Russia's refined oil +products would lead to further imbalance in global energy +markets.Meanwhile, ANZ analysts noted a sharp jump in traffic in +China's 15 largest cities after the Lunar New Year holiday but +said that Chinese traders had been "relatively absent."In U.S. supply, energy firms this week cut the number of oil +and natural gas rigs by the most since June 2020, energy +services firm Baker Hughes Co said. U.S. oil rigs fell +10 to 599 this week, their lowest since September, while gas +rigs dropped by two to 158.The U.S. Commodity Futures Trading Commission said on +Thursday that as a result of the ransomware attack on ION +Trading UK, the CFTC's weekly Commitments of Traders report will +be delayed until all trades can be reported. CFTC reports +provide a snapshot of investor positioning on various assets, +including oil. +(Reporting by Stephanie Kelly in New York; Ahmad Ghaddar and +Swati Verma in London, Sonali Paul in Melbourne and Jeslyn Lerh +in Singapore +Editing by Marguerita Choy and Susan Fenton) \ No newline at end of file diff --git a/news/BKR/2023.02.03/European stock exchanges down; wait for services activity data.txt b/news/BKR/2023.02.03/European stock exchanges down; wait for services activity data.txt new file mode 100644 index 0000000000000000000000000000000000000000..c21361c8ef129b5baeb9e37fa6757732e98e720b --- /dev/null +++ b/news/BKR/2023.02.03/European stock exchanges down; wait for services activity data.txt @@ -0,0 +1 @@ +(Alliance News) - On Friday, major European stock markets contravened expectations by opening in negative territory on the last trading day of the week and ahead of data on service sector performance in the Old Continent's major economies."European markets rallied sharply yesterday after the Bank of England and the European Central Bank both raised rates by 50bp, with the DAX closing at a new 11-month high and U.S. markets posting a strong session. While central banks would like to give the impression that they still have time to raise rates, markets are of the opposite view, assuming, rightly or wrongly, that we are close to a peak as far as rates are concerned and that, although they are not done yet, they are close, with bond yields falling sharply across the board," commented Michael Hewson, Chief Market Analyst at CMC Markets."The assumptions that have emerged over the past two days are certainly many, but this week's market price action tells a different story than what we have heard from all three central banks over the past two days. While the central banks are essentially saying that they are still waiting for a rate hike, the markets are saying that we don't believe you and that even if you raise again, you will have to cut again by the end of the year."Thus, the FTSE Mib is in the red 0.6 percent at 26,9444.50, the Mid-Cap is down 0.4 percent at 44,281.86, the Small-Cap is in the green 0.1 percent at 29,975.01, while Italy Growth is in the fractional green at 9,546.32.In Europe, Paris' CAC 40 gives up 0.7 percent, London's FTSE 100 is on the parity line, and Frankfurt's DAX 40 is down 0.8 percent.On the main list in Piazza Affari, Pirelli is at the top, in the green by 1.3 percent, followed by the banking sector with UniCredit still grinding out gains after the accounts and rising 1.2 percent and Intesa Sanpaolo in the green by 0.8 percent on the day when it is expected to publish its own. Ferrari, after surging 7.3 percent in Thursday's close, gives up 1.8 percent the day after it reported its preliminary consolidated results for the fourth quarter and twelve months ended Dec. 31, 2022, reporting a full-year net profit of EUR939 million, up 13 percent from the previous year, when it amounted to EUR833 million. As for fourth-quarter net income, this stands at EUR221 million in 2022 from EUR214 million in fourth-quarter 2021.CNH Industrial -- down 1.8 percent -- on Thursday released its fourth-quarter and full-year 2022 results, its first as a player in Agriculture and Construction, confirming that the board intends to recommend an annual dividend per share of EUR0.36. In the 12 months to Dec. 31, the group made a net profit of USD2.04 billion up from USD1.80 billion in 2021.The company also announced that the board of directors has decided to delist from Euronext Milan and "that shareholders will benefit more from listing on the NYSE only," as the company explained in a note.On the Mid-Cap, Webuild--up 0.3 percent--reported Friday that it had signed the agreement to purchase Clough, taking over EUR4 billion of backlog and securing 1,100 jobs.The integration of Clough into Webuild will create a group that is among the largest players in Australia and among the most historic. The projects included in the acquisition scope are among the most important infrastructure projects under construction in Australia and Papua New Guinea, and the agreement reached between Deloitte and Webuild facilitates their delivery for the governments, local communities, and businesses involved.Following the news given by Saras, which now trades in the red by 1.5 percent, on the funded collar transaction between ACM and Bank of Amercia, comes a clarifying note from both the fund and Angelo Moratti."The funded collar transaction in question between Angel Capital Management and BofA Securities Europe is in the nature of a financing transaction, with provision for a disbursement of a sum of money from BofASE to ACM as an interest-bearing loan and a collar derivative, for hedging purposes, involving a maximum of 47.6 million ordinary shares of Saras Spa. On Feb. 1, 2023, BofASE -in total autonomy from ACM-completed an accelerated book building transaction involving Saras shares for the purpose of hedging the long position taken under the collar," BofA specified.Industrie De Nora gives up 2.3 percent. The company on Thursday reviewed preliminary data as of Dec. 31, letting it know it reported consolidated revenues of more than EUR850 million from EUR615.9 million in 2021 and marking a 38 percent increase.On the Small-Cap, Risanamento is in the red by 0.5 percent, after the board of directors announced Thursday that it had reviewed preliminary results for 2022, whereby the company reported a net loss of EUR53.8 million from EUR24.9 million in the same period last year.Geox -- up 2.7 percent -- shared preliminary results for the year 2022 on Thursday, reporting revenues of EUR735.5 million up 21 percent from EUR608.9 million in 2021. Net financial position as of December 31, 2022 is negative EUR49.8 million from minus EUR64.3 million as of December 31, 2021.Bologna's Aeroporto Guglielmo Marconi - up 0.5 percent - announced Thursday the consolidation of its partnership with Ryanair, which began in 2008 and was strengthened in 2016, is now confirmed with a six-year agreement.Among SMEs, Confinvest - not yet affected by the exchanges - announced Thursday that it has signed a partnership with Fabrick - the first player created in Italy with the aim of fostering open banking - aimed at including Conto Lingotto in the services offered by Fabrick.Convergenze gives up 1.7 percent. The company reported Tuesday that it ended 2022 with revenues of EUR28.2 million, up 53% from EUR18.4 million a year earlier.In Asia, the Nikkei rose 0.4 percent today to 27,509.46, the Shanghai Composite fell 0.7 percent to 3,263.41, and the Hang Seng gave up 1.4 percent to 21,660.47.In New York at Thursday's close, the Dow gave up 0.1 percent to 34,053.94, the Nasdaq rose 3.3 percent to 12,200.82 while the S&P 500 gained 1.5 percent to 4,179.76.Among currencies, the euro changed hands at USD1.0887 versus USD1.0917 at Wednesday's close. In contrast, the pound is worth USD1.2184 from USD1.2255 last night.Among commodities, Brent crude is worth USD81.47 per barrel versus USD82.70 per barrel on Thursday evening. Gold, meanwhile, trades at USD1,926.40 an ounce from USD1,919.70 an ounce last session.On Friday's macroeconomic calendar, from 0945 CET, the services and composite PMIs for Italy, France, Germany and the Eurozone, in that order, and the UK are due.Also coming in from the Eurozone at 1100 CET is the producer price index.From the US, at 1430 CET, room for unemployment and nonfarm payrolls, at 1545 CET the manufacturing PMI will be known, and at 1900 CET the report from Baker Hughes on drilling rigs.At 2130 CET, as usual on Friday, will come the COT Report.Among companies, results from Intesa Sanpaolo are expected.By Claudia Cavaliere, Alliance News reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/BKR/2023.02.03/Factbox-Bumper profits fuel surge in dividends, buybacks at oil firms.txt b/news/BKR/2023.02.03/Factbox-Bumper profits fuel surge in dividends, buybacks at oil firms.txt new file mode 100644 index 0000000000000000000000000000000000000000..d2f170975f43876959e6f38b829ed6435e6b764c --- /dev/null +++ b/news/BKR/2023.02.03/Factbox-Bumper profits fuel surge in dividends, buybacks at oil firms.txt @@ -0,0 +1 @@ +The top 25 North American oil and gas companies by market capital posted a combined profit of $70.04 billion for the quarter ended Sept. 30, 186.3% higher than a year earlier, according to Refinitiv data. However, the record profits have renewed calls for a windfall tax, especially as sky-rocketing prices have fueled inflation around the globe.Below are some of the companies that have announced higher dividends and repurchases in recent weeks:Valero Energy Corp Dividend: Increased quarterly dividend by 4.1% to $1.02 per shareNet Income in latest quarter: More than tripled to $3.11 billionExxon Mobil Corp Dividend: Q4 per-share dividend of 91 cents, up 3 centsNet Income in latest quarter: Jumped 43.7% to $12.75 billionChevron CorpDividend: Raised quarterly dividend by 9 cents to $1.51 per shareShare buyback: Approves a $75 billion buyback programNet Income in latest quarter: Jumped 25.6% to $6.35 billionConocoPhillips Dividend: Declares variable dividend of 60 cents per shareShare buyback: Raised existing share repurchase authorization by $20 billionNet Income in latest quarter: Rose 23% to $3.2 billionCHESAPEAKE ENERGY CORP Dividend: Increased total quarterly dividend to $3.16/shr from $2.32/shrNet Income in latest quarter: Stood at $883 mln, compared with $345 mln year-ago lossBAKER HUGHES CO Dividend: Increased quarterly dividend by 5.5% to 19 cents per share Share buyback: Authorized an additional $2 bln Net Income in latest quarter: Fell 38.1% to $182 millionSLB (formerly Schlumberger) Dividend: Increased quarterly cash dividend 43% to $0.25 per shareShare buyback: Resumed share repurchase program Net Income in latest quarter: Rose 77.2% to $1.07 billionMarathon Petroleum CorpShare buyback: Approved an additional $5 billion in stock repurchasesNet Income in latest quarter: Rose 329.1% to $3.32 billionPhillips 66 Share buyback: Plans to return up to $12 bln more to shareholders by end-2024 through dividends and buybacksNet Income in latest quarter: Jumped 1241% to $5.4 billionMarathon Oil Corp Dividend: Expects to raise base dividend by an additional 11% after closing the purchase of EnsignNet Income in latest quarter: Climbed 344% to $817 millionEOG Resources Inc Dividend: Raised regular dividend by 10%, $1.50/shr special dividendNet Income in latest quarter: Rose 160.6% to $2.85 billionAPA Corp Dividend: Doubled quarterly dividend to an annualized rate of $1.00/shrNet Income in latest quarter: Stood at $422 million, compared with a loss of $113 millionCOTERRA ENERGY INC Dividend: Increased dividend by 3 cents to 68 cents/shrNet Income in latest quarter: Surged 1768.75% to $1.2 billionPATTERSON-UTI Dividend: Doubled quarterly cash dividend to 8 cents/shrShare buyback: Increased share repurchase authorization to $300 millionNet Income in latest quarter: Rose 181% to $61.5 million TEXAS PACIFIC LAND CORP Share buyback: Approved purchase of up to $250 mln worth of sharesNet Income in latest quarter: Rose 55% to $129.8 mlnCANADIAN NATURAL RESOURCES LTD Dividend: Raised quarterly dividend by 13% to 85 Canadian cents/shr Net Income in latest quarter: Rose 27.7% to C$2.81 blnCenovus Energy Inc Dividend: Announced a variable dividend of C$0.114 Share buyback: Plans to renew repurchase programNet Income in latest quarter: Climbed 192% to C$1.61 bln IMPERIAL OIL Dividend: Raised quarterly dividend by 29% to 44 Canadian cents/shrShare buyback: Announced a C$1.5 bln substantial issuer bid to buy back sharesNet Income in latest quarter: Rose 123.6% to C$2.03 bln TOURMALINE OIL CORP Dividend: Announced a special dividend of C$2.25/shr; raised quarterly dividend by 11% to 25 Canadian cents/shrNet Income in latest quarter: Rose 481% to C$2.09 bln (Reporting by Sourasis Bose, Ankit Kumar and Arunima Kumar in Bengaluru; Editing by Sriraj Kalluvila and Maju Samuel) \ No newline at end of file diff --git a/news/BKR/2023.02.03/Handbags down after services data; London in green.txt b/news/BKR/2023.02.03/Handbags down after services data; London in green.txt new file mode 100644 index 0000000000000000000000000000000000000000..20fb6c892df9c190a64a361f40cfdc9e79a7d0b9 --- /dev/null +++ b/news/BKR/2023.02.03/Handbags down after services data; London in green.txt @@ -0,0 +1 @@ +(Alliance News) - On Friday, major European stock markets continued in negative territory -- except for the FTSE100 -- following the release of data on the Eurozone producer price index and those on services activity in the Old Continent's major economies.Thus, the FTSE Mib is in the red by 0.5 percent at 26,978.66, the Mid-Cap is fractional green at 44,466.85, the Small-Cap is in the green by 0.3 percent at 30,044.47, while Italy Growth is in the green by 0.5 percent at 9,588.11.In Europe, Paris' CAC 40 gives up 0.3 percent, London's FTSE 100 is in the green by 0.2 percent, while Frankfurt's DAX 40 is down 0.6 percent.In macroeconomic news, Italian private sector activity returned to growth in January, helped by a good boost from the services sector. In fact, Italy's services PMI rose to 51.2 in January -- in line with estimates -- from 49.9 in December, crossing the 50.0-point threshold separating contraction from expansion.As S&P Global explains, the tertiary companies surveyed linked this modest increase in activity to an increase in the flow of new orders, up for the second consecutive month. The growth was strong, the highest since May 2022, and was linked to improving demand.In the Eurozone, in early 2023 and after six months of contraction, the economy indicated a marginal expansion.Thus, for the first time since June 2022, the Eurozone's seasonally adjusted composite manufacturing PMI index in January marked an expansion, according to data released by S&P on Friday. At 50.3, up from 49.3 in December, it indicated a gradual recovery for the third consecutive month.Overall, the headline index indicated marginal growth in Eurozone private sector activity. Finally, in December 2022, industrial producer prices increased by 1.1 percent in the Eurozone and 1.2 percent in the EU, compared with the previous month. Compared to December 2021, prices rose 24.6 percent in the eurozone and 25.2 percent in the EU.On the main list in Piazza Affari, Pirelli is at the top, in the green by 2.3 percent, followed by the banking sector with UniCredit still grinding out gains after the accounts and rising 0.6 percent and Intesa Sanpaolo in the green by 0.7 percent on the day when it is expected to publish its own. Ferrari gives up 2.6 percent the day after it has preliminary consolidated results for the fourth quarter and twelve months ended Dec. 31, 2022, reporting a full-year net profit of EUR939 million, up 13 percent from a year earlier when it amounted to EUR833 million. As for fourth-quarter net income, this stands at EUR221 million in 2022 from EUR214 million in fourth-quarter 2021.CNH Industrial -- down 1.4 percent -- on Thursday released its fourth-quarter and full-year 2022 results, its first as a player in Agriculture and Construction, confirming that the board intends to recommend an annual dividend per share of EUR0.36. In the 12 months to Dec. 31, the group made a net profit of USD2.04 billion up from USD1.80 billion in 2021.The company also announced that the board of directors has decided to delist from Euronext Milan and "that shareholders will benefit more from listing on the NYSE only," as the company explained in a note.On the Mid-Cap, Webuild--slumping 0.2 percent--reported Friday that it had signed the agreement to buy Clough, taking over EUR4 billion of backlog and securing 1,100 jobs.The integration of Clough into Webuild will create a group that is among the largest players in Australia and among the most historic. The projects included in the scope of the acquisition are among the most important infrastructure projects under construction in Australia and Papua New Guinea, and the agreement reached between Deloitte and Webuild facilitates their delivery for the governments, local communities, and businesses involved.Following the news given by Saras, which now trades in the red by 0.8 percent, on the funded collar transaction between ACM and Bank of Amercia, comes a clarifying note from both the fund and Angelo Moratti."The funded collar transaction in question between Angel Capital Management and BofA Securities Europe is in the nature of a financing transaction, with provision for a disbursement of a sum of money from BofASE to ACM as an interest-bearing loan and a collar derivative, for hedging purposes, concerning a maximum of 47.6 million ordinary shares of Saras Spa. On Feb. 1, 2023, BofASE - in total autonomy from ACM completed an accelerated book building transaction involving Saras shares for the purpose of hedging the long position taken under the collar," BofA specified.Industrie De Nora rises 0.4 percent. The company on Thursday reviewed preliminary data as of Dec. 31, letting it know it reported consolidated revenues of more than EUR850 million from EUR615.9 million in 2021 and marking a 38 percent increase.On the Small-Cap, Risanamento is in the red by 1.3 percent, after the board of directors announced Thursday that it had reviewed preliminary results for 2022, whereby the company reported a net loss of EUR53.8 million from EUR24.9 million in the same period last year.Geox -- up 3.0 percent -- shared preliminary results for the year 2022 on Thursday, reporting revenues of EUR735.5 million up 21 percent from EUR608.9 million in 2021. Net financial position as of December 31, 2022 is negative EUR49.8 million from minus EUR64.3 million as of December 31, 2021.Bologna's Aeroporto Guglielmo Marconi - up 1.2 percent - announced Thursday the consolidation of its partnership with Ryanair, which began in 2008 and was strengthened in 2016, is now confirmed with a six-year agreement.Among SMEs, Confinvest - up 3.0 percent - announced Thursday that it had signed a partnership with Fabrick - the first player established in Italy with the aim of fostering open banking - aimed at including Conto Lingotto in the services offered by Fabrick.Convergences rises 1.7 percent. The company reported Tuesday that it closed 2022 with revenues of EUR28.2 million, up 53 percent from EUR18.4 million a year earlier.In New York at Thursday's close, the Dow gave up 0.1% to 34,053.94, the Nasdaq rose 3.3% to 12,200.82 while the S&P 500 gained 1.5% to 4,179.76.Among currencies, the euro changed hands at USD1.0932 versus USD1.0917 at Wednesday's close. In contrast, the pound is worth USD1.2252 from USD1.2255 last night.Among commodities, Brent crude is worth USD82.01 per barrel versus USD82.70 per barrel Thursday night. Gold, meanwhile, trades at USD1,924.05 an ounce from USD1,919.70 an ounce last session.On Friday's macroeconomic calendar from the US, at 1430 CET, room for unemployment and nonfarm payrolls, at 1545 CET the manufacturing PMI will be known, and at 1900 CET the report from Baker Hughes on drilling rigs.At 2130 CET, as usual on Fridays, will come the COT Report.By Claudia Cavaliere, Alliance News reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/BKR/2023.02.03/Indices down, focus on services PMI.txt b/news/BKR/2023.02.03/Indices down, focus on services PMI.txt new file mode 100644 index 0000000000000000000000000000000000000000..7f15ff8d3df849bcca46af9f09eb4d46694a7137 --- /dev/null +++ b/news/BKR/2023.02.03/Indices down, focus on services PMI.txt @@ -0,0 +1 @@ +(Alliance News) - With the two days of central banking dismissed, with the Federal Reserve raising rates by 0.25 percent and the European Central Bank and Bank of England each making half-point hikes, interest shifts back to macro data on Friday.Pending the performance of the Eurozone and U.K. services sectors, the Caixin PMI index for China's services sector rose to 52.9 in January 2023 from 48.0 in December, according to data released Friday by S&P Global.This was the first growth in the services sector since last August, buoyed by the recent release of pandemic-related restrictions and the faster-than-expected spike in infections.Also in Asia, the au Jibun Bank index for Japan's service sector was revised downward to 52.3 in January 2023 from preliminary estimates of 52.4.The latest result followed December 2022's 51.1, marking the fifth consecutive month of service sector expansion and the fastest pace since October last year, thanks to the National Travel Discount Program.IG futures give the FTSE Mib down 92.5 points or 0.3 percent after closing up 1.5 percent at 27,100.62 on Thursday's session.London's FTSE 100 is given down 5.8 points or 0.1 percent, Paris' CAC 40 is estimated to be down 33.5 points or 0.5 percent and Frankfurt's DAX 40 is expected to be in the red 60.0 points or 0.4 percent.In Milan last night, the Mid-Cap closed up 1.1 percent to 44,460.60, the Small-Cap up 0.9 percent to 29,945.63 while the Italy Growth gained 0.5 percent to 9,542.98.On the main list in Piazza Affari, Telecom Italia gained 9.5 percent to EUR0.2870. As Francesco Bonazzi writes in Alliance News, "after last night's anticipations, Telecom Italia confirmed this morning that it has received a non-binding offer from KKR for a stake in a newly formed company that will include the fixed network perimeter, including FiberCop, and the controlling stake in Telecom Sparkle, which owns the submarine cables and ensures, among others, internet services to Israel.""The stake in NetCo will be a majority stake and the acquisition of KKR would result in the loss of vertical integration with respect to TIM. The value of the offer, according to sources close to the deal, would be EUR20 billion," writes the Alliance News columinist.Ferrari -- up 7.3 percent -- announced on Thursday its preliminary consolidated results for the fourth quarter and twelve months ended December 31, 2022, reporting a full-year net profit of EUR939 million, up 13 percent from the previous year, when it amounted to EUR833 million. As for fourth-quarter net income, this stands at EUR221 million in 2022 from EUR214 million in fourth-quarter 2021.Amplifon, on the other hand, rose 7.8 percent, following eve's 1.5 percent rise.CNH Industrial -- down 7.5 percent -- on Thursday released its fourth-quarter and full-year 2022 results, its first as a player in Agriculture and Construction, confirming that the board intends to recommend an annual dividend per share of EUR0.36. In the 12 months to Dec. 31, the group made a net profit of USD2.04 billion up from USD1.80 billion in 2021.The company also announced that the board of directors has decided to delist from Euronext Milan and "that shareholders will benefit more from listing on the NYSE only," as the company explained in a note.On the Mid-Cap, Sesa is up 6.7 percent. The stock is trading high with nearly 50,000 units traded, compared to a three-month daily average of about 14,800.High quarters also on MutuiOnline, which posted a plus 5.2 percent. The company is proceeding with its buyback program, where it most recently announced Monday evening that it has purchased ordinary shares for a total consideration of EUR107,000 or so.Among the bearish minority, Saras gave up 9.7 percent, reversing course after four bearish sessions.Industrie De Nora closed 3.5 percent in the red after eve's gain of 2.9 percent. The company on Thursday reviewed preliminary data as of Dec. 31, letting it know it reported consolidated revenues of more than EUR850 million from EUR615.9 million in 2021 and marking a 38 percent increase.On the Small-Cap, good buying on Alkemy, which closed up 2.7 percent. The company announced Wednesday that it has launched an internal division dedicated to funds, "capable of supporting the strategy and developing the business of the investees in its portfolio with the aim of accelerating their growth by making the most of all the levers of digital," as explained in a note.Eurotech, on the other hand, rose 4.5 percent ,with a monthly gain to 16 percent.Geox - up 0.5 percent - shared preliminary full-year 2022 results on Thursday, reporting revenues of EUR735.5 million up 21 percent from EUR608.9 million in 2021. Net financial position as of Dec. 31, 2022 is negative EUR49.8 million from minus EUR64.3 million as of Dec. 31, 2021.On the bearish front, Eems was down 0.5 percent, replicating the 2.3 percent red with which it closed the previous session.Among SMEs, Almawave rose 5.0 percent, on the heels of the 1.3 percent gain on the eve.Confinvest - up 1.0 percent - announced Thursday that it has signed a partnership with Fabrick - the first player established in Italy with the aim of fostering open banking - aimed at including Conto Lingotto in the services offered by Fabrick.In Asia, the Nikkei rose 0.4 percent today to 27,509.46, the Shanghai Composite fell 0.7 percent to 3,263.41 and the Hang Seng is giving up 1.3 percent to 21,684.18.In New York at Thursday's close, the Dow gave up 0.1 percent to 34,053.94, the Nasdaq rose 3.3 percent to 12,200.82 while the S&P 500 gained 1.5 percent to 4,179.76.Among currencies, the euro changed hands at USD1.0902 versus USD1.0917 at Wednesday's close. In contrast, the pound is worth USD1.2215 from USD1.2255 last night.Among commodities, Brent crude is worth USD82.18 per barrel versus USD82.70 per barrel on Thursday evening. Gold, meanwhile, trades at USD1,915.85 an ounce from USD1,919.70 an ounce last session.On Friday's macroeconomic calendar, from 0915 CET, the services and composite PMIs from Spain, Italy, France, Germany and the Eurozone, in that order, and the United Kingdom are due.Also coming in from the Eurozone at 1100 CET is the producer price index.From the US, at 1430 CET, room for unemployment and nonfarm payrolls, at 1545 CET the manufacturing PMI will be known, and at 1900 CET the report from Baker Hughes on drilling rigs.At 2130 CET, as usual on Friday, will come the COT Report.Among companies, results from Intesa Sanpaolo are expected.By Giuseppe Fabio Ciccomascolo, Alliance News senior reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/BKR/2023.02.03/U.S. oil & gas rig count falls by the most in a week since June 2020 - Baker Hughes.txt b/news/BKR/2023.02.03/U.S. oil & gas rig count falls by the most in a week since June 2020 - Baker Hughes.txt new file mode 100644 index 0000000000000000000000000000000000000000..c54567d4d20a04fb3e263639c48c63efbd8d8bb2 --- /dev/null +++ b/news/BKR/2023.02.03/U.S. oil & gas rig count falls by the most in a week since June 2020 - Baker Hughes.txt @@ -0,0 +1,32 @@ +Feb 3 (Reuters) - U.S. energy firms this week cut the +number of oil and natural gas rigs by the most since June 2020, +energy services firm Baker Hughes Co said in its closely +followed report on Friday.The oil and gas rig count, an early indicator of future +output, fell by 12 to 759 in the week to Feb. 3, the lowest +since September. Despite this week's rig decline, Baker Hughes said the total +count was still up 146 rigs, or 24%, over this time last year.U.S. oil rigs fell 10 to 599 this week, their lowest +since September, while gas rigs dropped by two to 158.U.S. oil futures were down about 8% so far this +year after gaining about 7% in 2022. U.S. gas futures, +meanwhile, have plunged about 46% so far this year after rising +about 20% last year.Overall, U.S. crude production was on track to rise from +11.9 million barrels per day (bpd) in 2022 to 12.4 million bpd +in 2023 and 12.8 million bpd in 2024, according to federal +energy data. That compares with a record 12.3 million bpd in +2019.Gas production was to rise on track to 100.34 billion cubic +feet per day (bcfd) in 2023 and 102.29 bcfd in 2024 from a +record 98.02 bcfd in 2022, according to federal energy data.Gas consumption, however, was on track to fall to 86.74 bcfd +in 2023 and 85.79 bcfd in 2024 from a record 88.72 bcfd in 2022.Analysts at Tudor Pickering Holt & Co said the gas market +was heading for an oversupply situation and the gas "price needs +to head lower to clear the decks of unwarranted supply growth +... to force operators to shut down drilling plans."Drilling contractor Helmerich & Payne this weekwarnedthat weaker gas prices could prompt a shift in drilling +work, with some equipment moving to shale regions more heavily +focused on oil production.It also said oil and gas producer budgets are slated to +be "moderately higher" in 2023, with activity also anticipated +to grow modestly in the coming months.Exxon Mobil Corp, which this week postedrecord annual profitsof $56 billion, boosted spending in new oil and gas +projects last year by 37% to $22.7 billion.Investments can go up to $25 billion this year, Exxon +Chief Executive Darren Woods said, part of it explained by +rising costs in the Permian, with inflation in the double +digits, amid "really, really hot" demand for equipments and +services. +(Reporting by Scott DiSavino +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/BKR/2023.02.10/U.S. drillers cut the most gas rigs in a week since 2017 - Baker Hughes.txt b/news/BKR/2023.02.10/U.S. drillers cut the most gas rigs in a week since 2017 - Baker Hughes.txt new file mode 100644 index 0000000000000000000000000000000000000000..b8eea7e6680f1c5cb1f75173fa399a2266ef864f --- /dev/null +++ b/news/BKR/2023.02.10/U.S. drillers cut the most gas rigs in a week since 2017 - Baker Hughes.txt @@ -0,0 +1,31 @@ +Feb 10 (Reuters) - U.S. energy firms cut the number of +natural gas rigs by the most in a week since October 2017, while +adding the most oil rigs in a week since June, energy services +firm Baker Hughes Co said in its closely followed report +on Friday.The total oil and gas rig count, an early indicator of +future output, rose two to 761 in the week to Feb. 10. + Baker Hughes said that puts the total rig count up 126, or +20%, over this time last year.U.S. oil rigs rose 10 to 609 this week, while gas rigs +fell eight to 150.U.S. oil futures were down about 1% so far this +year after gaining about 7% in 2022. U.S. gas futures, +meanwhile, have plunged about 44% so far this year after rising +about 20% last year.To avoid a looming oversupply situation in the gas market +that has already helped pressure prices to 25-month lows earlier +this week, many analysts have said producers will likely have to +cut the number of rigs drilling for gas this year."The lagging (gas) price effect will negatively impact rig +count, but do little for 2023. Our base case estimates 740 +average total rigs during 2023, with gas rigs materially +decreasing over the next 3-4 months," analysts at Raymond James +said in a note. The U.S. investment bank has previously forecast +an average of 813 rigs.Oilfield services firm Patterson-UTI Energy Inc's +chief executive said some rigs focused on drilling gas +outside of the northeastern United States may be let go amid the +price collapse, while oil-focused regions will see work pick up.Despite a recovery in drilling since pandemic-related cuts, +U.S. crude production has been slow to return to its peak of +12.3 million barrels per day (bpd) in 2019, only reaching 11.9 +million in 2022. It is forecast to rise to 12.5 million bpd in +2023 and 12.7 million bpd in 2024, according to government data.U.S. gas production was to rise on track to rise from a +record 98.09 billion cubic feet per day (bcfd) in 2022 to 100.27 +bcfd in 2023 and 101.68 bcfd in 2024, the government forecast. +(Reporting by Scott DiSavino +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/BKR/2023.02.12/Oil falls on demand concerns as impact of Russian output cut fades.txt b/news/BKR/2023.02.12/Oil falls on demand concerns as impact of Russian output cut fades.txt new file mode 100644 index 0000000000000000000000000000000000000000..0b3806b59c20c3ece7b3cef526333483a27925ec --- /dev/null +++ b/news/BKR/2023.02.12/Oil falls on demand concerns as impact of Russian output cut fades.txt @@ -0,0 +1 @@ +Prices rose on Friday after Russia, the world's third largest oil producer, said it would cut crude production in March by 500,000 barrels per day (bpd), or about 5% of output, in retaliation against western curbs on its exports that were imposed in response to the Ukraine conflict.Brent crude futures fell 69 cents, or 0.8%, to $85.70 a barrel by 0153 GMT after a 2.2% gain on Friday. U.S. West Texas Intermediate crude was at $79.04 a barrel, down 68 cents, or 0.9%, after rising 2.1% in the previous session."The weakness that we are seeing in prices in early morning trading today likely reflects the market coming to the realisation that these cuts are already largely priced in," ING analyst Warren Patterson said in a note.Both contracts rose more than 8% last week, buoyed by optimism over demand recovery in China, the world's top crude importer and No. 2 oil consumer, after COVID curbs were scrapped in December.China's oil demand recovery is curbing its gasoline exports in February although its refiners are maintaining diesel shipments at above 2 million tonnes.Stefano Grasso, a senior portfolio manager at 8VantEdge in Singapore, said the 500,000 bpd cut would bring Russia back in line with its OPEC+ quota as Moscow is currently over exporting.The Organization of the Petroleum Exporting Countries (OPEC) and their allies including Russia, a group known as OPEC+, in October agreed to cut production by 2 million bpd, about 2% of world demand.Oil prices may resume their rally back to $100 a barrel later this year on China's demand recovery and limited supply growth due to a lack of investment, OPEC country officials told Reuters.In the United States, the world's biggest oil producer, the number of operating oil rigs rose by 10 to 609 last week, the largest weekly addition since June, according to Baker Hughes report on Friday. (Reporting by Florence Tan; Editing by Christian Schmollinger)By Florence Tan \ No newline at end of file diff --git a/news/BKR/2023.02.16/In Weightlessness.txt b/news/BKR/2023.02.16/In Weightlessness.txt new file mode 100644 index 0000000000000000000000000000000000000000..65994071205a3a15e3a0d297516a64a1e165d36d --- /dev/null +++ b/news/BKR/2023.02.16/In Weightlessness.txt @@ -0,0 +1,34 @@ + +You get used to anything, even higher interest rates. This has been the message sent by the financial markets since the beginning of the year. We are currently witnessing what lawyers would probably call a form of reversal of the burden of proof. Until the end of last year, everything was going badly, until proven otherwise. Well, now everything is better, until proven otherwise. The change is important because it means looking at the positive side of a mixed indicator, instead of the dark side. This week illustrates this very well. In 2022, the combination of slightly less favorable than expected inflation numbers (that was Tuesday) with a healthy consumer sentiment and an improving housing market (that was yesterday) would have probably led investors to consider further rate hikes. This would have made them deeply depressed. Remember, there is little that financiers hate more than restrictive monetary policies. +But in 2023, no one cares. In January, stocks had ridden the wave of a sharper-than-expected slowdown in inflation, which confirmed that the U.S. central bank's rate-raising cycle would soon end. This was quite logical. All that was missing was a slightly more adverse context to test the strength of the recovery. This more adverse context materialized in February, with less unambiguous statistics and an unresolved dilemma at this stage: is it better to have strong growth and some fears about a Fed that might be even more punitive, or faltering growth that would push the Fed to return to a more flexible monetary policy? But what is important here is that the market is saying: the dilemma is not clear-cut, but both situations are ultimately acceptable if the published data remain within reasonable limits, they do not require a radical response such as a forceful rate hike as was the case a year ago. This feeling is reinforced by the non-materialization of the extreme scenarios that had been envisaged, in particular an energy cataclysm in Europe and an out-of-control coronavirus in China after the end of the zero-covid policy. +Coming back to concrete things, the US macroeconomic statistics published yesterday show that strategic parts of the economy are still strong, even if industrial production was a bit weak. Initially, this affected the indexes in the aforementioned pattern. But like the day before, they ended fairly close to their highs. In the United States, the Nasdaq 100 continued to rise, gaining 0.8%, well ahead of the S&P 500 (+0.3%). In Europe, green dominated everywhere, especially on the French CAC40, which recovered 1.2%, boosted by its large caps in luxury and industry. An American media (Bloomberg I think, I forgot where I read it) pointed out that the index compiled by Goldman Sachs to gauge investors' risk appetite based on the track record of unprofitable technology companies is at +30% since January 1st. The Nasdaq 100 is up nearly 16%. +Meanwhile, the bond market is once again looking at higher rates and/or longer, but without dampening sentiment. The US 10-year touched 3.8% yesterday, its highest level of the year. The yield curve is still inverted, which is historically a signal of recession. But one can sense that investors seem ready to put this gloomy prediction in the curiosity cupboard, along with the aforementioned energy cataclysm in Europe and the out-of-control coronavirus in China. Today, a new set of statistics from the US to test the strength of the mood I have just tried to paint. With the necessary caution, since we know that the pendulum effect is powerful on the equity markets. +Economic highlights of the day: +At 8:30 am in the United States, the market will mainly follow the producer prices and to a lesser extent the Philly Fed index, the weekly unemployment figures and the data on housing starts and building permits. All the agenda here. This morning, Japan reported an acceleration in exports in January, while economists had feared a contraction. +The dollar is trading at 0.9342 EUR and 0.8299 GBP. The ounce of gold remains positioned around 1836 USD. Oil is rebounding, with North Sea Brent crude at USD 85.57 a barrel and U.S. light crude WTI at USD 78.81. The yield on 10-year US debt tightens to 3.78%. Bitcoin jumps to USD 24,550. + +In corporate news: + +* Cisco Systems jumped 6% in after-hours trading as the networking equipment specialist raised its full-year profit growth forecast on Wednesday after strong quarterly results. +* Tesla has sold all of its Model Y inventory scheduled for this quarter in the U.S. market and nothing is expected until April. The company will also open part of its U.S. charging network to competitors' vehicles as part of a $7.5 billion government program to boost electric car use and lower carbon emissions. +* Ford Motor is down 0.7% in premarket trading after announcing an extension at least until the end of next week of the production suspension of its F-150 electric vehicle, which is facing battery problems. +* Roku jumped 10.2% in premarket trading after announcing a first-quarter revenue forecast that beat Wall Street expectations and a commitment to reduce its costs. +* Lockheed Martin and Raytheon Technologies - China's Ministry of Commerce announced Thursday that it had placed the two U.S. groups on a "list of unreliable entities" after arms sales to Taiwan. +* Baker Hughes - Piper Sandler raised its recommendation to "overweight" from "neutral".  + + +Analyst recommendations: + +Activision Blizzard: Deutsche Bank raised the recommendation to buy from hold. PT up 16% to $90. +Eli Lilly: Societe Generale cut the recommendation to sell from hold. Price target decreases 19% to $278. +Idexx Laboratories: Piper Sandler maintains overweight rating. Price target up to $600 from $500. +Inchcape: Citi initiated coverage with a recommendation of buy. PT set to 1,131 pence +Marathon Oil: Benchmark Company moved to buy from hold. Price target set to $32. +Nvidia: DZ Bank cut the recommendation to sell from buy. Price target downgrades to $195. +Pegasystems: Truist Securities maintains hold rating. PT up to $45 from $40. +Roku: Benchmark Company raised the target to $89 from $65. Maintains buy rating. +Seagen: Raymond James raised the recommendation to strong buy from outperform. PT up 23% to $175. +Smith & Nephew: Liberum initiated coverage with a recommendation of hold. PT set to 1,120 pence. +Upstart Holdings: Loop Capital Markets raised the recommendation to buy from hold. PT up 42% to $24. +Zillow Group: Benchmark Company upgrades price target to $60 from $52. + diff --git a/news/BKR/2023.02.16/Mib at more than one-year highs; Tenaris bullish.txt b/news/BKR/2023.02.16/Mib at more than one-year highs; Tenaris bullish.txt new file mode 100644 index 0000000000000000000000000000000000000000..ea72f5ea0e955703e726505ed2b5e49a50305d03 --- /dev/null +++ b/news/BKR/2023.02.16/Mib at more than one-year highs; Tenaris bullish.txt @@ -0,0 +1 @@ +(Alliance News) - The Mib index closed higher for the fourth consecutive session on Thursday, raising the bar well above 27,800 -- the new high for more than a year -- and aligning with the other major European listings.Market sentiment has been buoyed by optimism derived from corporate results, which are gaining space, while recent macro data attempt to give additional clues and insights into what the next moves by major central banks may be.Meanwhile, the ECB-through its number one Christine Lagarde-attempted to provide clarity, anticipating that the central bank will proceed with a further rate hike of 50 basis points and then "assess the next path."On Eccles Building, in the CME Group platform's FedWatch Tool -- using futures also based on the actual federal funds rate, or EFFR -- the main rate hike for the March 22 meeting has a 91 percent probability of a hike in the 475/500 bps range. In contrast, the probability of an increase in the 500/525 bps area is at 9%. The current target is between 450 and 475 bps.Thus, the FTSE Mib, closed in the green by 1.2 percent at 27,853.74.In Europe, Paris' CAC 40 rose 0.9 percent, London's FTSE 100 closed in the green by 0.2 percent as did Frankfurt's DAX 40.Among the smaller lists, the Mid-Cap is in the fractional red at 44,781.10, the Small-Cap closed down 0.1% at 30,308.52, and Italy Growth closed up 0.3% at 9,704.40.On the main list of Piazza Affari, Tenaris does best of all up 8.0% after announcing record results for 2022 on Wednesday evening. As of Dec. 31, 2022, Tenaris reported last quarter net sales of USD3.62 billion, up 76 percent from USD2.06 billion in the fourth quarter of 2021. Growing by triple digits, meanwhile, was net income, which rose to USD803 million in the last quarter of the year, 139% higher than the same period in 2021. Net income for the 12 months amounted to USD2.55 billion, "and reached a record high," as the company explained in a note, up 142% on USD1.05 billion in the year 2021.UniCredit, on the other hand, rises 4.3 percent to EUR19.42. The stock touched a 52-week high at EUR19.46.Pirelli follows, up 3.4 percent to EUR4.96 per share and closing for the fourth session in a row on the bullish side. Plans are also high for Saipem, which moves ahead 1.5 percent after falling 2.4 percent on the eve of the session. Interpump Group, on the other hand, closed down 0.5 percent. The company approved its December 31 interim report, which closed with consolidated net income for the period at EUR269.6 million from EUR198.5 million, up nearly 36 percent. Net sales for the year totaled EUR2.07 billion, up 30 percent on the previous year.Enel, on the other hand, gives up 0.2 percent after a 0.1 percent loss on the eve of trading. On the Mid-Cap, Banca Monte dei Paschi di Siena remained bullish until the close, ending with a 4.1 percent profit. The company reported Thursday that rating agency Moody's Investors Service upgraded the bank's ratings by 2 notches, raising the standalone Baseline Credit Assessment to "b1" from "b3," the long-term deposit rating to "Ba2" from "B1," and the subordinated debt rating to "B2" from "Caa1." The long-term senior unsecured debt rating was upgraded by 3 notches to "B1" from "Caa1." Tod's closed ahead for the fourth session in a row, advancing 1.5 percent to EUR36.68.Webuild -- down 0.2 percent to EUR1.73 -- reported Thursday that Clough's creditors' meeting, held on Feb. 15, 2023 in Australia, approved the proposed acquisition of Clough's assets by the group and that as of Feb. 16, 2023, the company thus assumes management and control of Clough's business in Australia and Papua New Guinea.Anima Holding, on the other hand, marks a 0.1 percent red. Mediobanca announced Wednesday morning that it had concluded on behalf of FSI the purchase of 25.0 million ordinary shares of Anima Holding in a "reverse accelerated bookbuilding" procedure. The total consideration, based on a price per share of EUR4.35, is equivalent to a EUR108.7 million outlay for the strategic fund.On the bottom end is Ariston Holding, which gives up 2.4 percent, on the heels of eve's red with 0.7 percent. On the Small-Cap, Eems moves ahead 7.1% to EUR0.0448, ending for the third session in a row bullish. High quarters also for I Grandi Viaggi, which advances 4.0% after eve's 4.5% step back. Sabaf -- up 0.1 percent -- on Tuesday approved results as of December 31, 2022, reporting a 3.9 percent drop in revenues to EUR253.1 million from EUR263.3 million a year earlier. Net income for the period was EUR15.7 million, down 34 percent from EUR23.9 million in FY2021.Among the bearish, list minority, LVenture, on the other hand, gives up 5.0 percent to EUR0.3610, after eve's green with 8.9 percent. Among SMEs, Alfonsino closes in the green - up 1.7 percent - after announcing its partnership with Beintoo, a data company of the Mediaset group, operating in the digital advertising and data-driven marketing sectors.Frendy Energy, on the other hand, rises 10 percent bringing its price to EUR0.2640, reversing a three-session downtrend.Leone Film Group closes down 1.8 percent after announcing Thursday that it reported revenues of EUR55.8 million in 2022, down 43 percent from EUR98.6 million in 2021. The decrease, the company explained, was mainly due to a reduction in the year in revenues from international executive productions and the fact that many of the year's major series productions will be delivered in 2023.Also hurting is GEL, down 6.2 percent after announcing on Wednesday that turnover as of December 31, 2022, was approximately EUR17.2 million, down 7.5 percent from the figure as of 2021, when it amounted to EUR18.6 million.In New York, the Dow is giving up 0.5 percent as are the Nasdaq and the S&P 500.Among currencies, the euro changes hands at USD1.0678 versus USD1.0677 at Wednesday's close. In contrast, the pound is worth USD1.2012 from USD1.2019 on Wednesday evening.Among commodities, Brent crude is worth USD85.41 per barrel versus USD84.11 per barrel on Wednesday evening. Gold, on the other hand, trades at USD1,836.65 an ounce from USD1,831.95 an ounce at Wednesday's close.On Friday's economic calendar, at 0800 CET from the United Kingdom the retail sales figure is due, along with Germany's producer price index.From France comes the inflation figure at 0845 CET, while at 1000 CET, from the Eurozone, it is the turn of the seasonally adjusted current account.At 1445 CET Bowman from the Fed will give a speech, while at 1900 CET Baker Hughes data will come out. Finally, as usual on Friday, at 2130 CET, it will be the turn of the COT Report. Among the companies expected are the accounts of BB Biotech.By Maurizio Carta, Alliance News reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/BKR/2023.02.17/Lists bearish; BPER touches annual high .txt b/news/BKR/2023.02.17/Lists bearish; BPER touches annual high .txt new file mode 100644 index 0000000000000000000000000000000000000000..361d05331f307c8165d6abceec33910ba63b5006 --- /dev/null +++ b/news/BKR/2023.02.17/Lists bearish; BPER touches annual high .txt @@ -0,0 +1 @@ +(Alliance News) - European stock markets moved lower Friday, closing out a busy week, after "hotter-than-expected unemployment and producer price numbers from the United States revived fears that the Federal Reserve will remain aggressive for a longer time.In addition, again Fed officials Loretta Mester and James Bullard have publicly pointed the way for further interest rate hikes to combat the rising value of the price basket.Trading rooms also assess data showing that producer inflation in Germany slowed less than expected in January while UK retail sales volumes unexpectedly rose 0.5 percent in January, thanks to sales promotions and lower fuel prices, as detailed in the ONS report.Thus, the FTSE Mib marks a decline of 1.2 percent to 27,515.01.In Europe, Paris' CAC 40 is retreating with 1.2 percent, London's FTSE 100 is giving up 0.6 percent while Frankfurt's DAX 40 is losing 1.3 percent. Among the smaller lists, the Mid-Cap is in the red by 1.0 percent to 44,334, 83, the Small-Cap is giving up 0.8 percent to 30,077.61, and Italy Growth is down 0.7 percent to 9,634.88.On the main list in Piazza Affari, among the few bullish performers is BPER Banca, which rises 3.2 percent. The stock touched a new 52-week high at EUR2.77 before retracing to the EUR2.73 area.In red, the dominant color on the list, Recordati is giving up 3.9 percent after greening on the eve with 1.0 percent and awaiting results due on Tuesday. Also reported on the stock is that Barclays cut its target price to EUR35.00 from the previous EUR40.00. Tenaris, on the other hand, retreats 2.8% to EUR16.87 per share. Last night the stock did best of all up 8.0% after announcing record results for 2022 on Wednesday night. As of December 31, 2022, Tenaris reported net sales of USD3.62 billion in the last quarter, up 76 percent from USD2.06 billion in the fourth quarter of 2021. Growing by triple digits, meanwhile, was net income, which rose to USD803 million in the last quarter of the year, 139% higher than the same period in 2021. Net income for the 12 months amounted to USD2.55 billion, "and reached a record level," as the company explained in a note, up 142% on USD1.05 billion in the year 2021.Lows also for Saipem, which gives up 2.8 percent after the 1.5 percent green on eve., while Amplifon equally follows the trend by giving up 2.5 percent after two sessions closed in the black. On the MidCap segment, Wiit retreats 2.8% to EUR20.66. It should be mentioned that the company continues with its buyback program, where it most recently announced that it has purchased its own ordinary shares for a total value of EUR240,000 or so. Marked sales also on Tamburi, which retreats 2.4 percent to EUR7.75 after a 0.1 percent gain on the eve. Salvatore Ferragamo, on the other hand, gives up 1.9 percent, following eve's red with 0.2 percent.On the SmallCap, Eukedos rises 3.6% to EUR1.29 in anticipation of results due on Wednesday. The 'buy' sense also prevails on Borgosesia, which accelerates 3.3% bringing the price to EUR0.8240.Tesmec - now 0.4 percent in the letter - reported Thursday that it has reviewed some preliminary management data for FY2022, which show revenues up about 25 percent from FY2021, thanks to the performance of the rail sector, the recovery of the trencher sector in the U.S. market, and an improved mix of the energy sector.Gabetti, on the other hand, retreats 2.6 percent to EUR1.2080.Among SMEs, Frendy Energy gives up 7.5 percent to EUR0.2460. It should be mentioned that the stock - which has not detached its dividend since 2016 - on a weekly basis still marks an asset of about 7.6 percent.Rear-ends also for Alfonsino, which gives up 5.3 percent in profit taking after two sessions of significant gains.Positive note, among the list's minority, for Arterra Bioscience, which advances 2.8% to EUR2.59.Purchases also on Ecosuntek, which marks a 2.7 percent gain to EUR19.20. The stock - on the MarketScreener platform - has a 'bullish' indication on the short, medium and long term. In New York on the European night, the Dow closed down 1.3 percent, the Nasdaq down 1.8 percent, and the S&P 500 left 1.4 percent on the parterre. Among Asian exchanges, the Nikkei gave up 0.7 percent, the Shanghai Composite 0.8 percent, while the Hang Seng finished 1.3 percent in the red. Among currencies, the strength of the dollar was confirmed. The euro changed hands at USD1.0642 versus USD1.0678 at Thursday's close. In contrast, the pound is worth USD1.1931 from USD1.2012 last night.Among commodities, Brent crude is worth USD83.85 per barrel versus USD83.64 per barrel Thursday night. Gold, on the other hand, trades at USD1,822.00 an ounce from USD1,823.27 an ounce at Thursday's close.On Friday's economic calendar, at 1000 CET, the seasonally adjusted current account balance is due from the Eurozone.At 1445 CET a Bowman speech from the Fed will be given, while at 1900 CET Baker Hughes data will be released. Finally, as usual on Friday, at 2130 CET, it will be the turn of the COT Report. By Maurizio Carta, Alliance News reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/BKR/2023.02.17/Mib down; banks up 30 percent since start of year .txt b/news/BKR/2023.02.17/Mib down; banks up 30 percent since start of year .txt new file mode 100644 index 0000000000000000000000000000000000000000..1620d6b504f9e1ea45895cc3b07c1393024a8463 --- /dev/null +++ b/news/BKR/2023.02.17/Mib down; banks up 30 percent since start of year .txt @@ -0,0 +1 @@ +(Alliance News) - The Mib index is down taking it to the 27,700 area Friday - breaking four consecutive sessions of rises - with fears of substantial rate hikes by the Federal Reserve returning to center stage after stronger-than-expected economic data from the US. However, in Milan - bucking the trend - it is a good day for the banking stocks segment, which is up plus 0.6 percent and is close to a 30 percent gain since the start of 2023. Cleveland Fed President Loretta Mester stressed that rates will have to go above 5 percent "and stay there for a long time." In addition, St. Louis Fed President James Bullard said he thought a half-percentage-point increase was possible at the next meeting in March. In Europe, annual producer inflation in Germany fell for the fourth consecutive month in January, although less than expected.Meanwhile, important to note how on Friday natural gas futures in Europe - measured on the benchmark Dutch TTF - touched EUR49.5 per megawatt-hour, the lowest intraday level since September 2021, and are about to close the week down nearly 7 percent, with the European energy crisis seemingly over for now.Europe is approaching the end of the winter season with full storage at about 65 percent, well above the 10-year average of 54 percent for this time of year, due to warmer-than-usual temperatures, record LNG imports, and an increase in power generation from alternative energy sources, including wind and nuclear.Thus, the FTSE Mib marks a 0.4 percent red at 27,733.59.In Europe, Paris' CAC 40 is retreating with 0.7 percent, London's FTSE 100 is giving up 0.2 percent while Frankfurt's DAX 40 is losing 0.8 percent. Among the smaller lists, the Mid-Cap is in the red 0.4 percent to 44,635.92, the Small-Cap is giving up 0.5 percent to 30,154.22, and Italy Growth is down 1.0 percent to 9,609.38.On the main list in Piazza Affari, among the few bullish performers is BPER Banca, which rises 3.2% confirming its bullishness since the bell rang. The stock trades at a new 52-week high of EUR2.79.Also ahead is another banker, Banco BPM, which advances 1.6 percent to EUR4.24. Of note, Keefe, Bruyette & Woods gives a target price on the stock at EUR5.81.In red, the dominant color on the list, Recordati is giving up 3.6 percent after greening on the eve with 1.0 percent and awaiting results due on Tuesday. Also reported on the stock is that Barclays cut its target price to EUR35.00 from the previous EUR40.00. Tenaris, on the other hand, retreats 3.2% to EUR16.87 per share. Last night the stock did best of all up 8.0% after announcing record results for 2022 on Wednesday night. As of December 31, 2022, Tenaris reported net sales of USD3.62 billion in the last quarter, up 76% from USD2.06 billion in the fourth quarter of 2021. Growing by triple digits, meanwhile, was net income, which rose to USD803 million in the last quarter of the year, 139% higher than the same period in 2021. Net income for the 12 months amounted to USD2.55 billion, "and reached a record high," as the company explained in a note, up 142 percent on USD1.05 billion in the year 2021.Low also for Amplifon, which joins in the last places of the segment with a 2.3 percent decline after two sessions closed in the black. On the MidCap segment, Wiit retreats 1.3 percent to EUR20.98. It should be mentioned that the company continues with its buyback program, where it most recently announced that it has purchased its own ordinary shares for a total value of EUR240,000 or so. Seco, on the other hand, gives up 4.8 percent, bringing the price to EUR5.13 and with weekly liabilities going over 6 percent. Marked sales also marked Antares Vision, which retreats 2.1 percent, positioning itself for its third session to end on the bearish side.On a positive note, however, banking stocks also stand out on this list. Monte dei Paschi appreciates 4.4 percent before ending in a volatility auction, Credito Emiliano rises 2.2 percent, and Banca Ifis advances 1.3 percent, On the SmallCap, Eukedos rises 2.0% to EUR1.27 ahead of results due on Wednesday. It does better than all Eems, which scores a plus 2.7%, heading for the fourth bullish session in a row. Tesmec rears its head again after the bearish trend with which it had started trading. The company said Thursday that it has reviewed some preliminary management data for fiscal 2022, which shows revenues up about 25 percent from fiscal 2021, thanks to the performance of the rail sector, the recovery of the trencher sector in the U.S. market, and an improved mix in the energy sector.At the tail end of the list is Bioera, which gives up 6.0 percent to EUR0.2800.Among the SMEs, Frendy Energy gives up 7.5 percent to EUR0.2460. Worth mentioning is that the stock - which has not detached its dividend since 2016 - on a weekly basis still marks an asset of about 7.6 percent.Rear-ends also for Alfonsino, which gives up 5.3 percent in profit taking after two sessions of significant gains.Positive note, among the list's minority, for Ecosuntek, which marks a 2.7 percent gain at EUR19.20. The stock - on the MarketScreener platform - has a 'bullish' indication on the short, medium and long term. The buy side also prevails on Gismondi1754, which advances 2.3% to EUR6.70.In New York on European night, the Dow closed down 1.3 percent, the Nasdaq down 1.8 percent, and the S&P 500 left 1.4 percent on the parterre. Among currencies, the strength of the dollar was confirmed. The euro changed hands at USD1.0642 versus USD1.0678 at Thursday's close. In contrast, the pound is worth USD1.1931 from USD1.2012 last night.Among commodities, Brent crude is worth USD83.85 per barrel versus USD83.64 per barrel Thursday night. Gold, on the other hand, trades at USD1,822.00 an ounce from USD1,823.27 an ounce at Thursday's close.On Friday's economic calendar, the Fed's Bowman speech will be given at 1445 CET, while Baker Hughes data will be released at 1900 CET. Finally, as usual on Friday, at 2130 CET, it will be the turn of the COT Report. By Maurizio Carta, Alliance News reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/BKR/2023.02.17/Mib futures down; strength on dollar.txt b/news/BKR/2023.02.17/Mib futures down; strength on dollar.txt new file mode 100644 index 0000000000000000000000000000000000000000..7ec9aa08c54ec4e509ed709255736bfdfc30c5f9 --- /dev/null +++ b/news/BKR/2023.02.17/Mib futures down; strength on dollar.txt @@ -0,0 +1 @@ +(Alliance News) - European stock markets are expected to open lower on Friday, weighed down by weak global sentiment as stronger-than-expected U.S. economic data and aggressive remarks by Federal Reserve officials hinting at another 50 basis point rate hike shook financial markets, setting them on the sell side.Investors also weighed in on data showing that producer inflation in Germany fell further in January, as they awaited eurozone current accounts in the morning. Meanwhile, the ECB-through its number one Christine Lagarde-attempted to provide clarity, anticipating that the central bank will proceed with a further rate hike of 50 basis points and then "assess the next path."On Eccles Building, in the CME Group platform's FedWatch Tool -- using futures also based on the actual federal funds rate, or EFFR -- the main rate hike for the March 22 meeting has a 81 percent probability of an increase in the 475/500 bps range. In contrast, the probability of an increase in the 500/525 bps area is at 19%. The current target is between 450 and 475 bps.Thus, the FTSE Mib, marks a decline of 150.00 points, after green with 1.2 percent to 27,853.74 last night. In Europe, Paris's CAC 40 is retreating 49.30 points, London's FTSE 100 is giving up 21.00 points, and Frankfurt's DAX 40 is giving up 97.00 points. Among the smaller lists on Thursday evening, the Mid-Cap closed fractionally in the red at 44,781.10, the Small-Cap closed down 0.1 percent at 30,308.52, and Italy Growth closed up 0.3 percent at 9,704.40.Yesterday, on the main list of Piazza Affari, Tenaris did best of all up 8.0% after announcing record results for 2022 on Wednesday evening. As of Dec. 31, 2022, Tenaris reported last quarter net sales of USD3.62 billion, up 76 percent from USD2.06 billion in the fourth quarter of 2021. Growing by triple digits, meanwhile, was net income, which rose to USD803 million in the last quarter of the year, 139% higher than the same period in 2021. Net income for the 12 months amounted to USD2.55 billion, "and reached a record high," as the company explained in a note, up 142% on USD1.05 billion in the year 2021.UniCredit, on the other hand, rose 4.3 percent to EUR19.42. The stock touched a 52-week high at EUR19.46.Pirelli followed, up 3.4 percent to EUR4.96 per share and closing for the fourth session in a row on the bullish side. Plans are also high for Saipem, which moved ahead 1.5 percent after falling 2.4 percent on the eve of the session. Interpump Group, on the other hand, closed down 0.5 percent. The company approved its December 31 interim report, which closed with consolidated net income for the period at EUR269.6 million from EUR198.5 million, up nearly 36 percent. Net sales for the year totaled EUR2.07 billion, up 30 percent on the previous year.Enel, on the other hand, gave up 0.2 percent after a 0.1 percent loss on the eve of trading. On the Mid-Cap, Banca Monte dei Paschi di Siena closed with a profit of 4.1 percent. The company reported Thursday that rating agency Moody's Investors Service upgraded the bank's ratings by 2 notches, raising the standalone Baseline Credit Assessment to "b1" from "b3," the long-term deposit rating to "Ba2" from "B1," and the subordinated debt rating to "B2" from "Caa1." The long-term senior unsecured debt rating was upgraded by 3 notches to "B1" from "Caa1." Tod's closed ahead for the fourth session in a row, advancing 1.5 percent to EUR36.68.Webuild -- down 0.2 percent to EUR1.73 -- reported Thursday that Clough's creditors' meeting, held on Feb. 15, 2023 in Australia, approved the proposed acquisition of Clough's assets by the group and that as of Feb. 16, 2023, the company thus assumes management and control of Clough's business in Australia and Papua New Guinea.Anima Holding, on the other hand, was 0.1 percent red. Mediobanca announced Wednesday morning that it had concluded on behalf of FSI the purchase of 25.0 million ordinary shares of Anima Holding in a "reverse accelerated bookbuilding" procedure. The total consideration, based on a price per share of EUR4.35, is equivalent to a EUR108.7 million outlay for the strategic fund.On the bottom end is Ariston Holding, which gave up 2.4 percent, on the heels of the eve's red with 0.7 percent. On the Small-Cap, Eems moved ahead 7.1% to EUR0.0448, ending for the third session in a row bullish. High quarters also for I Grandi Viaggi, which advanced 4.0% after eve's 4.5% step back. Sabaf -- up 0.1 percent -- on Tuesday approved results as of December 31, 2022, reporting a 3.9 percent drop in revenues to EUR253.1 million from EUR263.3 million a year earlier. Net income for the period was EUR15.7 million, down 34 percent from EUR23.9 million in FY2021.Among the bearish, minority of the list, LVenture, on the other hand, gave up 5.0 percent to EUR0.3610, after eve's green with 8.9 percent. Among SMEs, Alfonsino closed in the green - up 1.7 percent - after announcing its partnership with Beintoo, a data company of the Mediaset group, operating in the digital advertising and data-driven marketing sectors.Frendy Energy, on the other hand, rose 10 percent bringing its price to EUR0.2640, reversing a three-session downtrend.Leone Film Group closed down 1.8 percent after announcing Thursday that it reported revenues of EUR55.8 million in 2022, down 43 percent from EUR98.6 million in 2021. The decrease, the company explained, was mainly due to a reduction in the year in revenues from international executive productions and the fact that many of the year's major series productions will be delivered in 2023.Also hurting was GEL, down 6.2 percent after announcing on Wednesday that turnover as of December 31, 2022 was approximately EUR17.2 million down 7.5 percent from the figure as of 2021, when it amounted to EUR18.6 million.In New York on European night, the Dow closed down 1.3 percent, the Nasdaq down 1.8 percent, and the S&P 500 left 1.4 percent on the parterre. Among Asian exchanges, the Nikkei gave up 0.7 percent, the Shaghai Composite 0.8 percent, while the Hang Seng was in the red by 0.3 percent. Among currencies, the strength of the dollar is confirmed. The euro changes hands at USD1.0635 versus USD1.0678 at Thursday's close. In contrast, the pound is worth USD1.1935 from USD1.2012 last night.Among commodities, Brent crude is worth USD83.60 per barrel versus USD83.64 per barrel Thursday night. Gold, on the other hand, trades at USD1,822.88 an ounce from USD1,823.27 an ounce at Thursday's close.On Friday's economic calendar, at 1000 CET, the seasonally adjusted current account balance is due from the Eurozone.At 1445 CET a Bowman speech from the Fed will be given, while at 1900 CET Baker Hughes data will be released. Finally, as usual on Friday, at 2130 CET, it will be the turn of the COT Report. By Maurizio Carta, Alliance News reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/BKR/2023.02.17/U.S. oil & gas rig count falls for second time in three weeks - Baker Hughes.txt b/news/BKR/2023.02.17/U.S. oil & gas rig count falls for second time in three weeks - Baker Hughes.txt new file mode 100644 index 0000000000000000000000000000000000000000..147fd1d5b819530fac7fecb268d3f9b77f9711d8 --- /dev/null +++ b/news/BKR/2023.02.17/U.S. oil & gas rig count falls for second time in three weeks - Baker Hughes.txt @@ -0,0 +1,31 @@ +Feb 17 (Reuters) - U.S. energy firms this week cut the +number of oil and natural gas rigs operating for the second time +in three weeks, energy services firm Baker Hughes Co +said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future +output, fell by one to 760 in the week to Feb. 17. + Despite this week's rig decline, Baker Hughes said the total +count was still up 115, or 18%, over this time last year.Oil rigs fell two to 607 this week, while gas rigs rose +one to 151.U.S. oil futures were down about 6% so far this year +after gaining about 7% in 2022. U.S. gas futures, +meanwhile, have plunged about 50% so far this year after rising +about 20% last year.Weaker energy prices are expected to impact drilling +activity, which was recovering from pandemic-related cuts, but +slowly due to rising labor and equipment costs and as many firms +were still more focused on returning money to investors and +paying down debt rather than boosting production.To avoid a looming oversupply situation in the gas +market that has already caused prices to drop to 28-month lows +this week, many analysts have said producers will have to cut +the number of rigs drilling for gas this year.Gas producers starting the year with fewer hedges than +historically and will have to sell more gas at the market rate +of about $2.45 per million British thermal units (mmBtu).That is below the breakeven prices for producing gas in some +regions and may force some companies to reduce drilling and put +off completing wells.Despite recent price declines, the U.S. Energy +Information Administration (EIA) projected that oil and gas +production from the seven biggestshale basinswould rise to record highs in March.Overall, U.S. crude production was on track to rise from +11.9 million barrels per day (bpd) in 2022 to 12.5 million bpd +in 2023 and 12.7 million bpd in 2024, according to the EIA. That +compares with a record 12.3 million bpd in 2019.U.S. gas production was to rise on track to rise from a +record 98.09 billion cubic feet per day (bcfd) in 2022 to 100.27 +bcfd in 2023 and 101.68 bcfd in 2024, EIA data showed. +(Reporting by Scott DiSavino +Editing by Marguerita Choy) \ No newline at end of file diff --git "a/news/BKR/2023.02.24/U.S. drillers cut the most oil and gas rigs in a month since June 2020 - Baker Hughes\302\240\302\240...txt" "b/news/BKR/2023.02.24/U.S. drillers cut the most oil and gas rigs in a month since June 2020 - Baker Hughes\302\240\302\240...txt" new file mode 100644 index 0000000000000000000000000000000000000000..7fa2dbfc2d92b9006273ae29cd119eff8261b237 --- /dev/null +++ "b/news/BKR/2023.02.24/U.S. drillers cut the most oil and gas rigs in a month since June 2020 - Baker Hughes\302\240\302\240...txt" @@ -0,0 +1,33 @@ +Feb 24 (Reuters) - U.S. energy firms in February cut the +most oil and natural gas rigs in a month since June 2020, with +the gas rig count falling to the lowest since April, energy +services firm Baker Hughes Co said in its closely +followed report on Friday.The oil and gas rig count, an early indicator of future +output, fell seven to 753 in the week to Feb. 24. + Despite this week's rig decline, Baker Hughes said the total +count was still up 103 rigs, or 15.8%, over this time last year.U.S. oil rigs fell seven to 600 this week, while gas rigs +were unchanged at 151.For the month, the total oil and gas rig count was down 18, +falling for a third month in a row for the first time since July +2020.The oil rig count was down nine in February, while the gas +rig count also fell nine in its biggest monthly drop since April +2020.U.S. oil futures were down about 5.3% so far this +year after gaining about 7% in 2022. U.S. gas futures, +meanwhile, have plunged about 45% so far this year after rising +about 20% last year.Weaker energy prices are expected to impact drilling +activity, which was recovering from pandemic-related cuts, but +slowly due to rising labor and equipment costs and as many firms +were still more focused on returning money to investors and +paying down debt rather than boosting production.To avoid a looming oversupply situation in the gas market +that has already caused gas futures to drop to 29-month +lows this week, many analysts have said producers will have to +cut the number of rigs drilling for gas this year.Shale companies have been pulling back on gas activity as +prices have slumped.Gas-focused producer Chesapeake Energy Corp said +this week it planned to drop three drilling rigs this year and +reduce well completions activities.Rival Coterra Energy said it expected its oil volumes to +grow by about 2% this year, while its gas output would decline +1% versus the prior year.Oil prices will likely climb to the $90-$100 a barrel range +by this summer, the chief executive of shale producer Pioneer +Natural Resources said. +(Reporting by Bharat Govind Gautam in Bengaluru and Scott +DiSavino +Editing by Marguerita Choy) \ No newline at end of file diff --git "a/news/BKR/2023.02.24/Us drillers cut oil and gas rigs for second week in a row - bake\342\200\246.txt" "b/news/BKR/2023.02.24/Us drillers cut oil and gas rigs for second week in a row - bake\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..b62bcd2528ed2716c9e5e4ea16ae137f9814dd22 --- /dev/null +++ "b/news/BKR/2023.02.24/Us drillers cut oil and gas rigs for second week in a row - bake\342\200\246.txt" @@ -0,0 +1 @@ +US DRILLERS CUT OIL AND GAS RIGS FOR SECOND WEEK IN A ROW - BAKER HUGHES \ No newline at end of file diff --git "a/news/BKR/2023.02.24/Us drillers cut oil and natgas rigs for third month in a row - b\342\200\246.txt" "b/news/BKR/2023.02.24/Us drillers cut oil and natgas rigs for third month in a row - b\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..0d0450689142d0114b6662c930b9f571a041c082 --- /dev/null +++ "b/news/BKR/2023.02.24/Us drillers cut oil and natgas rigs for third month in a row - b\342\200\246.txt" @@ -0,0 +1 @@ +US DRILLERS CUT OIL AND NATGAS RIGS FOR THIRD MONTH IN A ROW - BAKER HUGHES \ No newline at end of file diff --git "a/news/BKR/2023.02.24/Us gas rig count down 9 in feb, in biggest monthly drop since ap\342\200\246.txt" "b/news/BKR/2023.02.24/Us gas rig count down 9 in feb, in biggest monthly drop since ap\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..a003e5f68e0856e02db41c82768df908a7c5ecf1 --- /dev/null +++ "b/news/BKR/2023.02.24/Us gas rig count down 9 in feb, in biggest monthly drop since ap\342\200\246.txt" @@ -0,0 +1 @@ +US GAS RIG COUNT DOWN 9 IN FEB, IN BIGGEST MONTHLY DROP SINCE APRIL 2020- BAKER HUGHES \ No newline at end of file diff --git a/news/BKR/2023.02.27/Baker Hughes : Signs Strategic Collaboration Agreement with Amazon Web Services, Inc&helli...txt b/news/BKR/2023.02.27/Baker Hughes : Signs Strategic Collaboration Agreement with Amazon Web Services, Inc&helli...txt new file mode 100644 index 0000000000000000000000000000000000000000..7f6e08665fd9c61387ba517df2494c314bb1ab4f --- /dev/null +++ b/news/BKR/2023.02.27/Baker Hughes : Signs Strategic Collaboration Agreement with Amazon Web Services, Inc&helli...txt @@ -0,0 +1,63 @@ + + + +· Collaboration combines AWS capabilities and Baker Hughes expertise for automated field production· Leucipa enables scalable, automated oil and gas production with data + + +HOUSTON - Feb. 27, 2023 - Baker Hughes, an energy technology company, signed a strategic collaboration agreement with Amazon Web Services, Inc. (AWS) to develop, market and sell the cloud-based Leucipa automated field production solution. The initial phase of the solution was introduced at the 2023 Baker Hughes Annual Meeting. + + +The collaboration leverages AWS services such as advanced analytics and Baker Hughes' expertise in the oil and gas industry to create an automated field production solution designed to allow operators to manage field production. By automating field production, the Leucipa solution improves performance and energy efficiency, which will reduce emissions. The Leucipa solution also minimizes health and safety exposure by reducing trips to the field. AWS is Baker Hughes' preferred and recommended cloud provider for the Leucipa automated field production solution. + + +"Our collaboration with AWS reflects our position as a leading energy technology company, as well as our commitment to working with industry leaders to deliver innovative solutions," said Maria Claudia Borras, executive vice president of Oilfield Services and Equipment at Baker Hughes. "The Leucipa field production solution is an automated field production solution that sets a new standard in the industry through its automation and scalability, helping our customers deliver on their production targets and reduce emissions." + + +The Leucipa automated field production solution will enable oil and gas operators to address the industry's increasing demand for scalable, automated approaches to increasing production, improving energy efficiency and reducing emissions. The collaboration with AWS allows Baker Hughes to deliver a leading data-driven solution for its customers. + + +"Through this collaboration, we will help transform oil and gas production operations by combining the domain expertise of Baker Hughes with the most comprehensive set of cloud services in the world from AWS," said Howard Gefen, general manager, Energy & Utilities, AWS. "By enabling automated and proactive management of field production operations, the Leucipa automated field production solution will help operators extract maximum value from existing resources, while reducing operational downtime and enhancing overall well performance." + + +Baker Hughes and AWS will continue to collaborate to add new capabilities to the Leucipa automated field production. For more information, visit bakerhughes.com/Leucipa. + + +About Baker Hughes + + +Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward - making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com. + + +For more information, please contact: + + +Media Relations + + +Victoria Ingalls + + ++1-346-269-5764 + + +Victoria.ingalls@bakerhughes.com + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Baker Hughes Company published this content on 27 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 February 2023 14:16:06 UTC. + + diff --git a/news/BKR/2023.02.27/Baker Hughes Invests $50 Million To Support Unity Bank of Houston, Texas' Sole Black-Ow...txt b/news/BKR/2023.02.27/Baker Hughes Invests $50 Million To Support Unity Bank of Houston, Texas' Sole Black-Ow...txt new file mode 100644 index 0000000000000000000000000000000000000000..5aae99b9051069c1d22602045c912a982d43b8ba --- /dev/null +++ b/news/BKR/2023.02.27/Baker Hughes Invests $50 Million To Support Unity Bank of Houston, Texas' Sole Black-Ow...txt @@ -0,0 +1 @@ +Investment made by depositing $50 million in the J.P. Morgan Asset Management's Empower share classHOUSTON - Baker Hughes, an energy technology company, announced Monday a $50 million investment to support Texas' only Black-owned banking institution as part of its commitment to supplier diversification and advancement of racial equity through meaningful change across four key values - grow, collaborate, lead and care.The investment, made through a $50 million deposit in J.P. Morgan Asset Management's Empower share class, will support Unity Bank of Houston, a Minority Depository Institution Program (MDI). The Empower share class, founded in 2021, aims to support institutions such as Unity Bank in delivering ongoing positive change to underserved communities. MDIs help promote the growth of Black-, Hispanic- and Latino-owned small businesses. A Black-owned bank needs customers to thrive; however, due to a lack of assets compared to larger banks, these banks have been on a decline in recent years. Baker Hughes has held its corporate headquarters in Houston for decades and is proud to support Unity National Bank of Houston, the only Black-owned banking institution in the state."We have a responsibility to improve and support the communities in which we live and work," said Baker Hughes Chief Financial Officer Nancy Buese. "As part of our commitment to increase supplier diversity and create lasting and sustainable change, this investment will enable Unity Bank to increase its offerings and drive meaningful impact within the communities it serves.""Unity National Bank is honored and enthusiastic about our collaborative relationship with Baker Hughes via Empowering Change, facilitated and led by our mentor and shareholder, J.P. Morgan," said Kwame Nkrumah Cain, head of Strategic Initiatives & General Counsel at Unity National Bank. "I believe that Empowering Change is transformative to Unity National Bank and is indicative of Baker Hughes' and J.P. Morgan's commitment to strengthen Unity National Bank's foundations and scale. I truly believe that J.P. Morgan's and Baker Hughes' mentorship, guidance and partnership will assist us in transitioning our community development efforts for the next generation and enable us to enhance and support economic development in low- and moderate-income communities.""I'm proud of Baker Hughes for prioritizing supplier diversity and continuously seeking to conduct business with minority-owned businesses," said Lynn Buckley, Baker Hughes' Supplier Diversity & Business Development Sourcing leader. "In 2022, we nearly doubled utilization of small and diverse businesses across the organization, and we hope to continue this trend in 2023."In partnership with Baker Hughes' Diversity, Equity and Inclusion (DEI), Treasury, and Supplier Diversity teams, the investment furthers Baker Hughes' strategy of supporting organizations with shared values, demonstrated leadership, evidence of impact, financial soundness, and the capacity to implement initiatives and evaluate their success. In 2022, the Baker Hughes Foundation announced $1 million in grants to four Historically Black Colleges and Universities (HBCU) for the 2022-23 academic year, part of the company's long-running mission to promote education and opportunity in the communities where Baker Hughes employees live and work.About Baker HughesBaker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward - making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.###For more information, please contact:Media RelationsAdrienne M. Lynch+1 713-906-8407adrienne.lynch@bakerhughes.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/BKR/2023.02.27/US oil drilling falls in response to lower prices: ...txt b/news/BKR/2023.02.27/US oil drilling falls in response to lower prices: ...txt new file mode 100644 index 0000000000000000000000000000000000000000..1390e75ee789f89129ee963b50b1b355e0905ac2 --- /dev/null +++ b/news/BKR/2023.02.27/US oil drilling falls in response to lower prices: ...txt @@ -0,0 +1,46 @@ +LONDON, Feb 27 (Reuters) - U.S. oil drilling activity +has begun to decline in response to the downturn in prices since +the middle of 2022 - which will translate into slower production +growth throughout the rest of 2023 and into 2024.The number of rigs drilling for oil fell to 600 in the week +ending on Feb. 24, down from a recent peak of 627 in the week +ending on Dec. 2, oilfield services company Baker Hughes found.The rig count has declined in five of the eight most recent +weeks and is at the lowest level since the start of July 2022 +(“North America rig count”, Baker Hughes, Feb. 24, 2023).The acceleration of drilling activity that started in August +2020 after the first wave of the pandemic appears to have paused +or possibly ended.Over the last three decades, changes in the rig count have +generally followed changes in front-month WTI futures prices +with an average lag of about 4-5 months (roughly 19 weeks).When prices rise, delays reflect the time needed to confirm +a change in price level is persistent rather than temporary, +contract extra rigs, move them to the drill site, erect the +equipment, and begin boring.When prices fall, the lag reflects time needed to confirm +the trend, finish part-drilled wells, drill wells already under +contract, and idle unneeded rigs.Chartbook: U.S. oil drilling activityIn this instance, WTI futures peaked at the start of June +2022, when they were more than 70% higher than at the same time +a year before.The number of rigs drilling for oil peaked in late November, +roughly 25 weeks after prices peaked, slightly longer than +average.Since June 2022, however, prices have generally retreated, +which has been reflected in a gradual turnover in drilling +activity rates.Prices are roughly 15% below year-ago levels and still +trending lower, implying drilling is likely to continue falling +through end of June 2023.Once drilling is finished, there is a further delay of six +months on average for casing, pressure pumping, installation of +surface equipment, flow testing, linking up to the pipeline +network and entering commercial production.The current slowdown in drilling is therefore likely to +reduce production growth through the end of 2023 and probably +into 2024.The Energy Information Administration (EIA) forecasts U.S. +production will be only 340,000 barrels per day (2.7%) higher in +December 2023 than it was in December 2022.If this forecast is realised, growth will have halved from +660,000 barrels per day (5.8%) in December 2022 compared with +December 2021 (“Short-term energy outlook”, EIA, Feb. 7, 2023).Growth would be just one-sixth of what it was at the height +of the second shale drilling boom in 2018, marking the end of +the shale revolution.Slower growth in U.S. production will reduce any +accumulation of crude inventories, even if the global economy +slows this year, and restrict the potential for non-inflationary +growth in the remainder of 2023 and 2024.Related columns:- U.S. oil production’s post-pandemic rebound set to slow + + - Is the U.S. shale oil revolution over? (Reuters, November +22, 2022)- U.S. oil drilling rises in response to higher prices + + John Kemp is a Reuters market analyst. The views expressed +are his own +(Editing by Barbara Lewis) \ No newline at end of file diff --git "a/news/BKR/2023.03.01/Baker Hughes Awarded Major Subsea Contract with Azule Energy\302\240for Agogo Oilfield Offshor...txt" "b/news/BKR/2023.03.01/Baker Hughes Awarded Major Subsea Contract with Azule Energy\302\240for Agogo Oilfield Offshor...txt" new file mode 100644 index 0000000000000000000000000000000000000000..20bfa63081a7aa61a7271977b8bc674a2054d47a --- /dev/null +++ "b/news/BKR/2023.03.01/Baker Hughes Awarded Major Subsea Contract with Azule Energy\302\240for Agogo Oilfield Offshor...txt" @@ -0,0 +1 @@ +HOUSTON, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, has been awarded a major contract to provide subsea equipment and services by Azule Energy for work in the Agogo oilfield, offshore Angola. This award represents the first major new greenfield project awarded in offshore Angola in more than five years.The scope of work includes 23 standard subsea trees, 11 Aptara manifolds, SemStar5 fiber optic controls and the related system scope of supply. Baker Hughes will also provide services and aftermarket support for the Agogo integrated west hub subsea production system.A significant portion of the equipment will be manufactured, assembled and tested in Angola, leveraging Baker Hughes’ local facilities and workforce.“Our local manufacturing capabilities, deepwater development equipment and innovative subsea control system technology enable us to provide exceptional support to Azule Energy in their efforts to increase oil production in Angola,” said Maria Claudia Borras, executive vice president of Oilfield Services and Equipment at Baker Hughes. “Our expertise and comprehensive solutions well-equip us to reduce complexity, support project schedules, and deliver successful outcomes for Azule Energy and further contribute to the growth of Angola’s energy industry.”Azule Energy is an international energy company located in Angola, with bp and ENI sharing equal stakes in the business. Baker Hughes' technology offerings are well-equipped for the challenging deepwater offshore environment, and the subsea control system technology enables Baker Hughes to support greenfield development and interface with legacy interconnected producing wells.About Baker HughesBaker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.For more information, please contact:Media Relations Victoria Ingalls+1 (346) 269-5764Victoria.Ingalls@BakerHughes.comInvestor RelationsJud Bailey +1-281-809-9088 investor.relations@bakerhughes.com      2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/BKR/2023.03.01/Baker Hughes Contributes Over $170,000 to Kahramanmaras Earthquake Relief.txt b/news/BKR/2023.03.01/Baker Hughes Contributes Over $170,000 to Kahramanmaras Earthquake Relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..7cedaff4a3e1fbaa5af47039139dcc3f1be08fc5 --- /dev/null +++ b/news/BKR/2023.03.01/Baker Hughes Contributes Over $170,000 to Kahramanmaras Earthquake Relief.txt @@ -0,0 +1 @@ +HOUSTON -- The Baker Hughes Foundation has announced a $100,000 grant to the Turkish Philanthropy Funds' Turkiye Earthquake Relief Fund to support those affected by the earthquakes in Turkey and surrounding areas. Additionally, through direct contributions from Baker Hughes employees and matching gifts from the Baker Hughes Foundation, an incremental $72,000 to support relief efforts has been raised since the first week in February.The Kahramanmaras earthquakes ravaged parts of southeastern Turkey, killing tens of thousands and leaving many lives in disarray. For many years, Baker Hughes has supported those in a time of desperate need through a variety of charitable giving and volunteering programs. This donation also supports the company's commitment to advancing the United Nations Sustainable Development Goals - specifically SDG 6, to ensure availability of water and sanitation for all, and SDG 13, to strengthen resilience and adaptive capacity to natural disasters."We are deeply saddened by the series of earthquakes and horrific loss of life in Turkey and the surrounding areas," said Baker Hughes Chairman and CEO Lorenzo Simonelli. "We understand the recovery and rebuilding process extends far beyond the initial disaster, and we are keen to aid Turkish Philanthropy Funds as it stands ready to provide support to those affected by this immense tragedy."Turkish Philanthropy Funds (TPF) seeks to maximize the impact of giving, with a particular focus on Turkey. TPF invests millions in economic, social and environmental projects. Immediate relief efforts provided by this fund aim to ensure that survivors and first responders receive critical resources, including food, housing, medical aid, water and psychosocial care.To learn more about Baker Hughes' work in supporting its communities, visit our Corporate Responsibility website.About the Baker Hughes Foundation:For 25 years, the Baker Hughes Foundation has been a steward of charitable resources for meaningful community impact. The Foundation seeks to advance environmental quality, education, health, safety, and wellness around the world by supporting organizations with shared values, demonstrated leadership, evidence of impact, financial soundness, and the capacity to implement initiatives and evaluate their success. The Baker Hughes Foundation makes strategic philanthropic contributions, matches Baker Hughes employee contributions, and awards volunteer recognition grants for outstanding employee community service.About Baker HughesBaker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward - making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.###For more information, please contact:Media RelationsAdrienne M. Lynch+1 713-906-8407adrienne.lynch@bakerhughes.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/BKR/2023.03.01/Baker Hughes signs supply contract with Angola's Azule Energy.txt b/news/BKR/2023.03.01/Baker Hughes signs supply contract with Angola's Azule Energy.txt new file mode 100644 index 0000000000000000000000000000000000000000..92ff9f8746b92e97fff34f8ce8142454c0179c6d --- /dev/null +++ b/news/BKR/2023.03.01/Baker Hughes signs supply contract with Angola's Azule Energy.txt @@ -0,0 +1 @@ +The Agogo field, offshore Angola, was the country's largest offshore discovery in years and could help slow years of production declines in Africa's second-biggest exporter.The order includes 23 standard subsea trees, 11 Aptara manifolds, SemStar5 fiber optic controls and related system scope of supply, Baker Hughes said, adding that significant portion of the equipment will be manufactured, assembled and tested in Angola."Our local manufacturing capabilities, deepwater development equipment and innovative subsea control system technology enable us to provide exceptional support to Azule Energy in their efforts to increase oil production in Angola," said Maria Claudia Borras, executive vice president of Oilfield Services and Equipment at Baker Hughes.Azule Energy, Angola's largest independent equity producer of oil and gas, is a 50-50 independent joint venture between Eni and BP, combining the two companies' Angolan businesses.It currently has stakes in 16 licences and in the Angola LNG joint venture. (Reporting by Mrinalika Roy in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/CDNS/2023.01.05/Cadence Tensilica HiFi DSP Enables Highly Energy-Efficient Audio Playback for Dolby Atm...txt b/news/CDNS/2023.01.05/Cadence Tensilica HiFi DSP Enables Highly Energy-Efficient Audio Playback for Dolby Atm...txt new file mode 100644 index 0000000000000000000000000000000000000000..5e45ed54537cfc1ee150866f3e67db859e80a929 --- /dev/null +++ b/news/CDNS/2023.01.05/Cadence Tensilica HiFi DSP Enables Highly Energy-Efficient Audio Playback for Dolby Atm...txt @@ -0,0 +1,19 @@ + +Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced that Cadence® Tensilica® HiFi DSP IP now supports Dolby Atmos® for cars, making it the first DSP IP with this capability. Cadence has optimized Dolby car experience technology to run on the Tensilica HiFi DSP for audio playback of Dolby Atmos for cars. Offloading Dolby Atmos to the low-energy, high-performance Tensilica HiFi DSP enables system-on-chip (SoC) providers to offer automotive OEMs and Tier 1 suppliers a more energy-efficient implementation without affecting the audio experience. + +Dolby Atmos for cars immerses drivers and passengers in the future of in-car entertainment with greater audio details, clarity and sound separation that bring listeners closer to their favorite content. Dolby Atmos brings music to life by providing artists an expanded palette that can be used to express their creativity in an entirely new way. With Dolby Atmos, drivers can experience entertainment that has been created, delivered and played back as the artist intended. + +“At Dolby we are passionate about expanding the options for consumers to enjoy Dolby Atmos experiences and music is an important aspect of any in-car experience,” said Andreas Ehret, Director of Automotive at Dolby Laboratories. “Dolby is a long-standing Cadence partner, and enabling Dolby Atmos on the popular Tensilica HiFi DSP allows OEMs and users to optimize their automotive infotainment experience.” + +“The Tensilica HiFi DSP is the most widely used audio DSP on the market. HiFi DSPs are licensed by 19 of the top 20 semiconductor companies, with more than 1.5 billion HiFi DSP cores shipping per year. In collaboration with Dolby, we have brought Dolby technology to billions of consumer devices over the years, including the first-ever Dolby Atmos TV,” stated Yipeng Liu, group director of marketing, Tensilica audio/voice IP at Cadence. “Offering Dolby car experience technology on Tensilica HiFi DSPs enables our customers to deliver Dolby Atmos for cars to the market with extremely high performance, energy efficiency and value.” + +Cadence’s comprehensive audio ecosystem includes more than 180 partners ranging from industry giants like Dolby to other companies providing innovative sensor fusion, always-on, sound-enhancement and noise-reduction software. More than 300 audio, voice, speech recognition and voice enhancement software packages have already been ported to the Tensilica HiFi DSP architecture, enabling customers to get up and running very quickly and easily port their proprietary software with the same or higher performance as other DSP solutions. For more information on the Tensilica HiFi DSP family, visit www.cadence.com/go/HiFiDolbyforcars. + +About Cadence + +Cadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world’s most innovative companies, delivering extraordinary electronic products from chips to boards to complete systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare. For eight years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com. + +© 2023 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. in the US and/or elsewhere. Dolby and Dolby Atmos are registered trademarks of Dolby Laboratories. All other trademarks are the property of their respective owners. + +Category: Featured +View source version on businesswire.com: https://www.businesswire.com/news/home/20230105005415/en/ \ No newline at end of file diff --git a/news/CDNS/2023.01.06/Cadence Announces Fourth Quarter and Fiscal Year 2022 Financial Results Webcast.txt b/news/CDNS/2023.01.06/Cadence Announces Fourth Quarter and Fiscal Year 2022 Financial Results Webcast.txt new file mode 100644 index 0000000000000000000000000000000000000000..ee864ed1d11f0a9c3d9f0ce87997ae8bd48b3abd --- /dev/null +++ b/news/CDNS/2023.01.06/Cadence Announces Fourth Quarter and Fiscal Year 2022 Financial Results Webcast.txt @@ -0,0 +1,15 @@ + +Cadence Design Systems, Inc. (Nasdaq: CDNS) will hold its fourth quarter and fiscal year 2022 financial results webcast on Monday, February 13, 2023. + +Participating in the webcast will be Dr. Anirudh Devgan, president and chief executive officer, and John Wall, senior vice president and chief financial officer. + +The webcast will begin Monday, February 13, 2023 at 2:00 p.m. Pacific Time. An archive of the webcast will be available online from 5:00 p.m. Pacific Time on February 13, 2023 until 5:00 p.m. Pacific Time on Friday, March 18, 2023, at cadence.com/cadence/investor_relations. + +About Cadence + +Cadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world’s most innovative companies, delivering extraordinary electronic products from chips to boards to complete systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare. For eight years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com. + +© 2023 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners. + +Category: Financial +View source version on businesswire.com: https://www.businesswire.com/news/home/20230106005374/en/ \ No newline at end of file diff --git a/news/CDNS/2023.01.09/Cadence Announces Fourth Quarter and Fiscal Year 2022 Financial Results Webcast.txt b/news/CDNS/2023.01.09/Cadence Announces Fourth Quarter and Fiscal Year 2022 Financial Results Webcast.txt new file mode 100644 index 0000000000000000000000000000000000000000..338c2746168994036f6a36098d7cb0499c4daa3f --- /dev/null +++ b/news/CDNS/2023.01.09/Cadence Announces Fourth Quarter and Fiscal Year 2022 Financial Results Webcast.txt @@ -0,0 +1 @@ +SAN JOSE, Calif. - Cadence Design Systems, Inc. (Nasdaq: CDNS) will hold its fourth quarter and fiscal year 2022 financial results webcast on Monday, February 13, 2023.Participating in the webcast will be Dr. Anirudh Devgan, president and chief executive officer, and John Wall, senior vice president and chief financial officer.The webcast will begin Monday, February 13, 2023 at 2:00 p.m. Pacific Time. An archive of the webcast will be available online from 5:00 p.m. Pacific Time on February 13, 2023 until 5:00 p.m. Pacific Time on Friday, March 18, 2023, at cadence.com/cadence/investor_relations.About CadenceCadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world's most innovative companies, delivering extraordinary electronic products from chips to boards to complete systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare. For eight years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com. 2023 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners.Contact:Cadence InvestorT: 408-944-7100E: investor_relations@cadence.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CDNS/2023.01.18/GUC Delivers its First TSMC N3 Chip and First AI-Optimized N5 Design Using Cadence Digi...txt b/news/CDNS/2023.01.18/GUC Delivers its First TSMC N3 Chip and First AI-Optimized N5 Design Using Cadence Digi...txt new file mode 100644 index 0000000000000000000000000000000000000000..0f0a4b05f5808b453f4322727d4d406c33bf7d9d --- /dev/null +++ b/news/CDNS/2023.01.18/GUC Delivers its First TSMC N3 Chip and First AI-Optimized N5 Design Using Cadence Digi...txt @@ -0,0 +1,19 @@ + +Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced that Global Unichip Corp. (GUC) successfully delivered an advanced HPC design and a CPU design using Cadence® digital solutions. The HPC design was created using the Cadence Innovus™ Implementation System on TSMC’s advanced N3 process and featured a 3.5 million instance count that reached clock speeds of up to 3.16GHz. The CPU design was created using the AI-enabled Cadence Cerebrus™ Intelligent Chip Explorer and the digital full flow on the TSMC N5 process technology, delivering 8% reduced power and a 9% area improvement while significantly improving engineering productivity. + +The Innovus Implementation System’s highly accurate GigaPlace engine provided GUC with support for TSMC FinFlex™ cell row placement and consideration for pin access throughout the flow for N3 design rule checking (DRC) closure. The state-of-the-art GigaOpt engine delivered improved optimization by enabling the most optimal configuration from the TSMC N3 library while balancing different cell row utilization. The Innovus Implementation System also includes a massively parallel architecture and incorporates the well-established NanoRoute engine, which enabled GUC to address signal integrity early in the design flow while improving post-route correlation. + +Cadence Cerebrus, coupled with the Cadence digital flow, was instrumental in providing GUC with power, performance and area (PPA) benefits as well as the ability to perform synthesis through implementation and signoff on their 5nm CPU design, optimizing engineering team productivity. Unique to Cadence Cerebrus is its reinforcement learning engine that autonomously optimized GUC’s design flow, allowing the team to exceed human engineering potential and accelerate time to market. + +“GUC is a market leader providing advanced chip solutions for AI, HPC, 5G, industrial and other emerging applications,” said Dr. Louis Lin, senior vice president of Design Services at GUC. “Given our commitment to deliver the most competitive designs to our customers, it is important for us to invest in leading-edge technologies. The Cadence Cerebrus Intelligent Chip Explorer, in conjunction with the broader digital flow, was the natural choice to help us achieve faster design turnaround via AI technology while also improving PPA. The Innovus Implementation System was instrumental in helping us deliver our first N3 chip, enabling our team to accelerate the creation of our high-performance, low-power HPC design.” + +Cadence Cerebrus and Innovus Implementation are part of the broader digital flow and support the company’s Intelligent System Design™ strategy, which enables SoC design excellence. For more information, please visit www.cadence.com/go/innovuscerebruscspr. + +About Cadence + +Cadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world’s most innovative companies, delivering extraordinary electronic products from chips to boards to complete systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare. For eight years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com. + +© 2023 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners. + +Category: Featured +View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005343/en/ \ No newline at end of file diff --git a/news/CDNS/2023.01.19/Fitch Affirms Cadence Design Systems at 'A-'; Outlook Stable.txt b/news/CDNS/2023.01.19/Fitch Affirms Cadence Design Systems at 'A-'; Outlook Stable.txt new file mode 100644 index 0000000000000000000000000000000000000000..80806471f48c90d0ab09459ee2225c98d027ab93 --- /dev/null +++ b/news/CDNS/2023.01.19/Fitch Affirms Cadence Design Systems at 'A-'; Outlook Stable.txt @@ -0,0 +1 @@ +Fitch Ratings has affirmed Cadence Design Systems, Inc.'s Long-Term Issuer Default Rating (IDR) at 'A-'.The Rating Outlook is Stable. Fitch's actions affect $1.05 billion of total debt, including the $700 million revolving credit facility (RCF, $550 million available as of 3Q FY22). The $300 million term loan is not being rated.The ratings and Outlook reflect Fitch's expectations for solid operating performance and significant financial flexibility. Fitch expects Cadence will maintain conservative financial policies and that credit protection measures will remain strong for the rating, with EBITDA leverage below 1x. At the end of 3Q22, Cadence had $1 billion of readily available cash and cash equivalents on its balance sheet. The company expects to use approximately 50% of its FCF for share repurchase. Fitch assumes Cadence would slow or suspend share repurchases for large acquisitions.Key Rating DriversIncreasing Focus on Intelligent System Design: Cadence is leveraging its leadership in the EDA and IP businesses to expand into more sophisticated Intelligent System Design that integrate hardware, software, and AI that are grounded in computational engineering. Such offerings effectively extend Cadence's position in the value chain from semiconductor component designs to system designs deepening integration into customers' design process. Fitch believes the system focus would expand Cadence's addressable market and increase entry barriers and switching cost.Strong Leadership in the EDA Industry: The EDA industry is characterized by high entry barriers as both the depth and breadth of technologies require high level of R&D investments over extended period of time. Cadence has maintained cash R&D to revenue ratios of near 35% (GAAP near 40%) in recent years. The level of R&D investments has been higher than Synopsys, Inc., the largest competitor, at approximately 33% (GAAP). The investments have enabled Cadence to maintain a leading position in Analog segment, and a top-three player in Verification, PCB & Packaging, and Digital & Signoff.Extending Analog Strengths into Digital: Cadence has traditionally been a strong player in analog products, with an estimated market share near 60% within the sector, followed by Synopsys. Cadence has historically lagged behind Synopsys in the digital segment market share. In recent quarters, Cadence has closed the gap with Synopsys with approximately one-third share each. Given the high entry barriers, Fitch expects the EDA industry to be dominated by the two major players, Cadence and Synopsys, accounting for the majority of the market followed by Siemens EDA as a distant third.Resiliency Through Industry Cycles: Cadence's semiconductor products are primarily utilized in the front-end design process that is relatively insulated from normal industry cyclicality. While the industry faces occasional supply/demand imbalance that affects semiconductor manufacturers, the front-end design activities are less sensitive to cyclical end-market demand fluctuations and manufacturing activities given the long design cycle. Fitch assumes moderated growth for Cadence in periods of semiconductor down-cycle as its customers could become more sensitive to costs.Diversifying Outside of Semiconductor: Leveraging its strong computational simulation capabilities, Cadence has been extending into new industry verticals through acquisitions. During 2021-2022, Cadence acquired Pointwise, NUMECA, and Future Facilities. These companies collectively specialize in computational fluid dynamics (CFD) with applications in aerospace, electronics cooling, and energy performance optimization. In 2022, Cadence also acquired OpenEye Scientific Software that specializes in molecular modelling and simulation with applications in life sciences. The newly acquired technologies provide foundation for future growth opportunities while leveraging Cadence's core technical capabilities.High Level of Recurring Revenue: In recent years, Cadence has transitioned its revenue structure to a primarily subscription-based model. This model provides a high level of revenue visibility as approximately 85%-90% of total revenue is backed by contracts with well over 95% renewal rate. Fitch views the high level of revenue predictability favorably.Highly Diversified End-Product Exposure: While Cadence's direct customers are focused around electronics and semiconductor systems companies, it is well diversified across all electronics end-products as EDA systems are utilized for all complex electronics system design and manufacturing. Fitch believes the aggregate demand from emerging applications, including AI, data analytics, cloud, automotive and IoT, could provide further tailwinds for continuing growth for the EDA industry, despite the fragmented nature of the individual subsectors.Strong Cash Flow Generation: Cadence's EBITDA and FCF margins are consistent for software companies in the rating category. Between 2013 and 2021, the company generated EBITDA margins of 26%-39% and FCF margins of 17.5%-34%. Fitch estimates Cadence's FCF margin remaining above 30% to generate FCF in excess of $1 billion through our forecast period. Fitch expects Cadence's FCF to increase gradually, in-line with revenue growth.M&A and Share Repurchases: Fitch expects Cadence to be opportunistic with acquisitions primarily targeting complementary IP that enhances the company's technology capabilities. In the absence of attractive acquisition targets, Fitch expects Cadence to return excess cash to shareholders through share buybacks. As of Oct. 1, 2022, $1.4 billion of share repurchases remain under current authorization approved by the board and increased in August 2022. Fitch expects shareholder return to remain a continuing theme in the near term.Derivation SummaryThe ratings and Outlook reflect Fitch's expectations for solid operating performance. Fitch anticipates low-teens growth over the intermediate term in a normal industry environment, driven in part by new product introductions (NPI), including new areas in Intelligent System Design that build on Cadence's core EDA and IP products. Fitch expects these capabilities to position Cadence for new applications in emerging technologies. System design enablement, digital and signoff, as well as design IP businesses should continue growing, driven by increasing design complexity and shortened NPI cycles. Fitch expects applications in aerospace and life sciences to have minimal contribution to Cadence's operating profile in the near term.Fitch views Microsoft Corporation (AAA/Stable), Constellation Software (BBB+/Stable) and Broadcom Inc. (BBB-/Stable) as close peers to Cadence. Microsoft is a large-scale technology company. It is well positioned in the rapidly growing cloud segment with its Azure platform and cloud-based applications. Microsoft is significantly larger than Cadence in terms of scale and margins, but it operates with slightly higher leverage. Similar to Cadence, Broadcom addresses the technology product development environment across a wide range of industry verticals through its acquisition of CA, Inc. Broadcom has greater scale and margins than Cadence but maintains a lower rating due to its higher leverage and appetite for acquisitions. Constellation Software is also comparable in revenue scale to Cadence with FCF margin in the mid-teens. Cadence compares well against these two software peers in the 'BBB' rating category. Fitch also views Synopsys as a close peer with similar business profile and market exposure, with Cadence relatively stronger in analog systems and Synopsys stronger in digital systems. Synopsys's LTM EBITDA and FCF margins are slightly below those of Cadence.Key AssumptionsFitch's Key Assumptions Within Our Rating Case for the IssuerRevenue growth in 2023 weakens to high-single digits due to semiconductor industry headwinds followed by normalized growth rates in high-single digits to low-teens through our forecast period;Stable operating EBITDA margins of approximately 40%;$1.5 billion in aggregate acquisitions for 2023-2025; deals would likely bring only minimal revenue (more IP based);$600 million-$700 million in annual share repurchases for 2023-2025 as cash accumulates;$150 million outstanding RCF fully repaid in 2023;$350 million unsecured notes due in 2024 is fully refinanced;$300 million unsecured term loan due in 2025 fully repaid at or before maturity.RATING SENSITIVITIESFactors that could, individually or collectively, lead to positive rating action/upgrade:Well balanced exposure to at least three business lines or markets with different sensitivity to the economic cycle;Sufficient capacity and financial flexibility to execute M&A strategy and capital allocation priorities enabling the company to pursue large acquisitions to continuously upgrade technology capabilities and maintain competitiveness without significant degradation to credit metrics.In addition to the above, Cadence would need to provide a publicly articulated financial framework or a demonstrated record of maintaining a consistent credit profile, yielding increased confidence in EBITDA leverage sustaining under 1x combined with operating performance that is in line with Fitch's current expectations.Factors that could, individually or collectively, lead to negative rating action/downgrade:Structurally lower revenue from material share losses resulting in Fitch's expectations for sustained FCF below $500 million;Lower base line operating profitability from increasing price competition or a shifting product mix resulting in Fitch's expectations for sustained EBITDA leverage above 1.5x.Best/Worst Case Rating ScenarioInternational scale credit ratings of Non-Financial Corporate issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. For more information about the methodology used to determine sector-specific best- and worst-case scenario credit ratings, visit https://www.fitchratings.com/site/re/10111579.Liquidity and Debt StructureStrong Liquidity Position and Financial Flexibility: Cadence's financial flexibility and liquidity position are solid considering its ability to generate consistent levels of FCF of over $1 billion annually. Fitch expects Cadence to generate more than $750 million of FCF through the semiconductor cycle. The company's liquidity position is further supported by its $1 billion of readily available cash and cash equivalents and $700 billion of RCF of which $550 million was available at 3Q22. Fitch expects the RCF to be fully repaid during 2023.Manageable Maturity Profile: Cadence's maturity schedule is manageable and Fitch believes the company has sufficient financial flexibility through expected FCF generation, cash on balance sheet, and access to the capital markets to address maturities. The next scheduled maturity is in 2024, when the senior unsecured notes are due. Cadence generates sufficient FCF to service its debt maturity while continuing its share repurchase program.Debt Structure:$700 million ($150 million outstanding) senior unsecured revolving credit facility due January 2026;$350 million senior unsecured notes due 2024;$300 million senior unsecured term loan due 2025.Issuer ProfileCadence Design Systems, Inc. (CDNS) is a provider of mission critical system design enablement (SDE) software, hardware, and IP solutions for the semiconductor industry and electronic systems business. Its SDE provides the technologies necessary for its customers to develop a complete and functional electronic product.REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATINGThe principal sources of information used in the analysis are described in the Applicable Criteria.ESG ConsiderationsUnless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of '3'. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. For more information on Fitch's ESG Relevance Scores, visit www.fitchratings.com/esg(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CDNS/2023.01.25/Cadence Quantus FS Solution, a 3D Field Solver, Achieves Certification for Samsung Foun...txt b/news/CDNS/2023.01.25/Cadence Quantus FS Solution, a 3D Field Solver, Achieves Certification for Samsung Foun...txt new file mode 100644 index 0000000000000000000000000000000000000000..cb49b043c9a8de20d0bdb22980ad26bba2a44020 --- /dev/null +++ b/news/CDNS/2023.01.25/Cadence Quantus FS Solution, a 3D Field Solver, Achieves Certification for Samsung Foun...txt @@ -0,0 +1,17 @@ + +Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced that Samsung Foundry has certified the Cadence® Quantus™ FS solution for its SF4, SF3E and SF3 process technologies. During the Samsung Foundry certification process, the Quantus FS solution successfully demonstrated improved accuracy (tighter mean and standard deviation) versus foundry criteria, ensuring customers can achieve optimal design accuracy and performance. In addition, the certification included verification of capacitance and resistance of BEOL and FEOL, wire via resistance variation and litho bias modeling. Customers can immediately deploy the Quantus FS solution—for library IP characterization, AMS and interface IP, sensors, high-frequency analog and mixed-signal designs, and critical nets in all custom/analog designs—and sign off with confidence. + +Included with Cadence’s Quantus Extraction Solution, the Quantus FS solution is a random-walk field solver, utilizing a massively parallel architecture that handles the largest designs, provides faster throughput and linearly scales up to 1000s of CPUs. The built-in 3D capacitance field solver is cloud-ready and production-proven, offering a flexible, scalable modeling platform that enables faster implementation of the Samsung Foundry’s advanced process technologies such as SF4, SF3E and SF3. The Quantus Extraction Solution and the Quantus FS solution are part of Cadence’s broader digital full flow and support the Cadence Intelligent System Design™ strategy, enabling system-on-chip (SoC) design excellence. For more information on the Quantus FS solution, please visit www.cadence.com/go/quantusfscertpr. + +“Our continued collaboration with Cadence has focused on delivering novel technologies to our mutual customers at advanced process technologies,” said Sungjae Lee, vice president of the Design Enablement team at Samsung Foundry. “Cadence’s understanding of the complex Gate-All-Around (GAA) modeling features combined with its deep engineering expertise, agility and collaborative approach is very complementary to our own approach in working with our customers. Cadence delivered on all of our accuracy and performance requirements, demonstrating tighter correlation with our golden reference data in a timely manner.” + +“The best way to support our customers is to bring innovative products to market that provide efficiencies and speed time to market,” said Vivek Mishra, corporate vice president in the Digital and Signoff Group at Cadence. “We collaborated with Samsung Foundry during the initial technology development process to ensure all the requirements were met and implemented in the Quantus FS solution for easy, early customer adoption of the process technologies. The successful completion of the certification process is a win-win for Samsung Foundry and Cadence as well as for our mutual customers.” + +About Cadence + +Cadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world’s most innovative companies, delivering extraordinary electronic products from chips to boards to complete systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare. For eight years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com. + +© 2023 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners. + +Category: Featured +View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005017/en/ \ No newline at end of file diff --git a/news/CDNS/2023.02.13/Cadence : Q4 Earnings Snapshot.txt b/news/CDNS/2023.02.13/Cadence : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..239b555a37d6fa78c4fe91baecc9307a924546ea --- /dev/null +++ b/news/CDNS/2023.02.13/Cadence : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Cadence Design Systems Inc. (CDNS) on Monday reported fourth-quarter net income of $240.4 million.The San Jose, California-based company said it had profit of 88 cents per share. Earnings, adjusted for one-time gains and costs, were 96 cents per share.The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.The maker of hardware and software products for validating chip designs posted revenue of $899.9 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $880.6 million.For the year, the company reported profit of $849 million, or $3.09 per share. Revenue was reported as $3.56 billion.For the current quarter ending in March, Cadence expects its per-share earnings to range from $1.23 to $1.27.The company said it expects revenue in the range of $1 billion to $1.02 billion for the fiscal first quarter.Cadence expects full-year earnings in the range of $4.90 to $5 per share, with revenue ranging from $4 billion to $4.06 billion.Cadence shares have climbed 16% since the beginning of the year. In the final minutes of trading on Monday, shares hit $185.70, an increase of 30% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDNS at https://www.zacks.com/ap/CDNSFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/CDNS/2023.02.13/Cadence Reports Fourth Quarter and Fiscal Year 2022 Financial Results.txt b/news/CDNS/2023.02.13/Cadence Reports Fourth Quarter and Fiscal Year 2022 Financial Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..52a46a555935cd5bc339109f840a6c257d7265e6 --- /dev/null +++ b/news/CDNS/2023.02.13/Cadence Reports Fourth Quarter and Fiscal Year 2022 Financial Results.txt @@ -0,0 +1,2731 @@ + +Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the fourth quarter and fiscal year 2022. + +Cadence reported 2022 revenue of $3.562 billion, compared to revenue of $2.988 billion for 2021. On a GAAP basis, Cadence achieved operating margin of 30 percent and recognized net income of $849 million, or $3.09 per share on a diluted basis, in 2022, compared to operating margin of 26 percent and net income of $696 million, or $2.50 per share on a diluted basis for 2021. Revenue for the fourth quarter of 2022 totaled $900 million, compared to revenue of $773 million for the same period in 2021. Cadence achieved operating margin of 23 percent and recognized net income of $240 million, or $0.88 per share on a diluted basis, in the fourth quarter of 2022, compared to operating margin of 25 percent and net income of $177 million, or $0.63 per share on a diluted basis, for the same period in 2021. + +Using the non-GAAP measures defined below, operating margin for 2022 was 40 percent and net income was $1.173 billion, or $4.27 per share on a diluted basis, compared to operating margin of 37 percent and net income of $918 million, or $3.29 per share on a diluted basis, for the same period in 2021. For the fourth quarter of 2022, operating margin was 36 percent and net income was $262 million, or $0.96 per share on a diluted basis, compared to operating margin of 36 percent and net income of $227 million, or $0.82 per share on a diluted basis, for the same period in 2021. + +“Cadence delivered record results for 2022 driven by our innovative solutions and strong execution to our Intelligent System Design™ strategy,” said Anirudh Devgan, president and chief executive officer. “I remain confident in the long-term secular mega-trends that continue to fuel robust design activity across semi and system companies. As we start off 2023, I’m excited about our momentum and look forward to driving further innovation and customer success.” + +“We delivered another year of strong financial results,” said John Wall, senior vice president and chief financial officer. “I am pleased that we exceeded all key operating metrics for 2022, and look forward to building on that strength in 2023.” + +CFO Commentary + +Commentary on the fourth quarter and fiscal year 2022 financial results by John Wall, senior vice president and chief financial officer, is available at www.cadence.com/cadence/investor_relations. + +Business Outlook + +For the first quarter of 2023, the company expects total revenue in the range of $1.00 billion to $1.02 billion. First quarter GAAP operating margin is expected to be in the range of 31 percent to 32 percent and GAAP net income per diluted share is expected to be in the range of $0.84 to $0.88. Using the non-GAAP measures defined below, operating margin is expected to be in the range of 41 percent to 42 percent and net income per diluted share is expected to be in the range of $1.23 to $1.27. + +For fiscal year 2023, the company expects total revenue in the range of $4.00 billion to $4.06 billion. On a GAAP basis, operating margin for 2023 is expected to be in the range of 30.5 percent to 32.0 percent and GAAP net income per diluted share for 2023 is expected to be in the range of $3.24 to $3.34. Using the non-GAAP measures defined below, operating margin for 2023 is expected to be in the range of 40.5 percent to 42.0 percent and net income per diluted share for 2023 is expected to be in the range of $4.90 to $5.00. + +The company utilizes a long-term projected non-GAAP tax rate, which reflects currently available information, as well as other factors and assumptions. The non-GAAP tax rate could be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in the company’s geographic earnings mix, or other changes to the company’s strategy or business operations. The company expects to use this normalized non-GAAP tax rate through fiscal 2025 but will re-evaluate this rate periodically for significant items that may materially affect its projections. + +A schedule showing reconciliations of the business outlook from GAAP operating margin, GAAP net income and GAAP diluted net income per share to non-GAAP operating margin, non-GAAP net income and non-GAAP diluted net income per share, respectively, is included in this press release. + +Audio Webcast Scheduled + +Anirudh Devgan, president and chief executive officer, and John Wall, senior vice president and chief financial officer, will host the fourth quarter and fiscal year 2022 financial results audio webcast today, February 13, 2023, at 2 p.m. (Pacific) / 5 p.m. (Eastern). Attendees are asked to register at the website at least 10 minutes prior to the scheduled webcast. An archive of the webcast will be available starting February 13, 2023 at 5 p.m. (Pacific) and ending March 17, 2023 at 5 p.m. (Pacific). Webcast access is available at www.cadence.com/cadence/investor_relations. + +About Cadence + +Cadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world’s most innovative companies, delivering extraordinary products from chips to boards to complete systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare. For eight years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at www.cadence.com. + +© 2023 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners. + +This press release contains forward-looking statements, including Cadence's outlook on future operating results, strategic objectives, business prospects, technology and product developments, industry trends and other statements using words such as “anticipates,” “believes,” “expects,” “intends,” “plans,” “will,” and words of similar import and the negatives thereof. Forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside Cadence’s control, and which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements, including, among others: (i) Cadence’s ability to compete successfully in the highly competitive industries in which it operates; (ii) the success of Cadence’s efforts to maintain and improve operational efficiency and growth; (iii) the mix of products and services sold, the timing of orders and deliveries and the ability to develop, install or deliver Cadence’s products or services; (iv) change in customer demands or supply constraints that could result in delays in purchases, development, installations or deliveries of Cadence's products or services, including those resulting from consolidation, restructurings and other operational efficiency improvements of Cadence’s customers; (v) economic, geopolitical and industry conditions, including that of the semiconductor and electronics industries, government regulations and trade restrictions; (vi) capital expenditure requirements, legislative or regulatory requirements, changes in tax laws, interest rates, currency exchange rate fluctuations, inflation rates and Cadence’s ability to access capital and debt markets; (vii) the acquisition of other companies, businesses or technologies or the failure to successfully integrate and operate them; (viii) events that affect cash flow, liquidity, or reserves, or settlement assumptions Cadence may take from time to time with respect to accounts receivable, taxes and tax examinations, litigation, regulatory or other matters; (ix) the effects of any litigation, regulatory or other proceedings to which Cadence is or may become a party or to which Cadence or its products, services or properties are subject; and (x) the duration, severity, volatility and effects of the COVID-19 pandemic and containment measures on Cadence, its employees, and its suppliers and customers, which may also have the effect of heightening the other risks described in this paragraph. In addition, the timing and amount of Cadence’s repurchases of its common stock are subject to business and market conditions, corporate and regulatory requirements, stock price, acquisition opportunities and other factors. + +For a detailed discussion of these and other cautionary statements related to Cadence’s business, please refer to Cadence’s filings with the U.S. Securities and Exchange Commission, including its most recent reports on Form 10-K and Form 10-Q and future filings. + +GAAP to Non-GAAP Reconciliation + +Non-GAAP financial measures should not be considered as a substitute for or superior to measures of financial performance prepared in accordance with generally accepted accounting principles, or GAAP. Investors are encouraged to review the reconciliation of non-GAAP measures contained within this press release with their most directly comparable GAAP results. Investors are also encouraged to look at the GAAP results as the best measure of financial performance. + +To supplement Cadence’s financial results presented on a GAAP basis, Cadence management uses non-GAAP measures that it believes are helpful in understanding Cadence’s performance. One such measure is non-GAAP net income, which is a financial measure not calculated under GAAP. Non-GAAP net income is calculated by Cadence management by taking GAAP net income and excluding, as applicable, amortization of intangible assets, stock-based compensation expense, acquisition and integration-related costs including retention expenses, investment gains or losses, income or expenses related to Cadence’s non-qualified deferred compensation plan, restructuring and other significant items not directly related to Cadence’s core business operations, and the income tax effect of non-GAAP pre-tax adjustments. + +Cadence management uses non-GAAP net income because it excludes items that are generally not directly related to the performance of Cadence’s core business operations and therefore provides supplemental information to Cadence management and investors regarding the performance of the business operations, facilitates comparisons to the historical operating results and allows the review of Cadence's business from the same perspective as Cadence management, including forecasting and budgeting. + +The following tables reconcile the specific items excluded from GAAP operating margin, GAAP net income and GAAP net income per diluted share in the calculation of non-GAAP operating margin, non-GAAP net income and non-GAAP net income per diluted share for the periods shown below: + +Operating Margin Reconciliation + +  + +Three Months Ended + +  + +  + +December 31, 2022 + +  + +January 1, 2022 + +  + +  + +(unaudited) + +GAAP operating margin as a percent of total revenue + +  + +23% + +  + +25% + +Reconciling items to non-GAAP operating margin as a percent of total revenue: + +  + +  + +  + +  + +Stock-based compensation expense + +  + +8% + +  + +7% + +Amortization of acquired intangibles + +  + +2% + +  + +2% + +Acquisition and integration-related costs + +  + +2% + +  + +1% + +Restructuring + +  + +0% + +  + +0% + +Non-qualified deferred compensation expenses + +  + +1% + +  + +1% + +Non-GAAP operating margin as a percent of total revenue + +  + +36% + +  + +36% + +Operating Margin Reconciliation + +  + +Years Ended + +  + +  + +December 31, 2022 + +  + +January 1, 2022 + +  + +  + +(unaudited) + +GAAP operating margin as a percent of total revenue + +  + +30% + +  + +26% + +Reconciling items to non-GAAP operating margin as a percent of total revenue: + +  + +  + +  + +  + +Stock-based compensation expense + +  + +8% + +  + +7% + +Amortization of acquired intangibles + +  + +2% + +  + +2% + +Acquisition and integration-related costs + +  + +1% + +  + +1% + +Restructuring + +  + +0% + +  + +0% + +Non-qualified deferred compensation expenses (credits) + +  + +(1)% + +  + +0% + +Special charges* + +  + +0% + +  + +1% + +Non-GAAP operating margin as a percent of total revenue + +  + +40% + +  + +37% + +* + +Includes costs related to a voluntary retirement program in the second quarter of 2021. + +Net Income Reconciliation + +  + +Three Months Ended + +  + +  + +December 31, 2022 + +  + +January 1, 2022 + +(in thousands) + +  + +(unaudited) + +Net income on a GAAP basis + +  + +$ + +240,392 + +  + +  + +$ + +176,579 + +  + +Stock-based compensation expense + +  + +  + +73,249 + +  + +  + +  + +54,230 + +  + +Amortization of acquired intangibles + +  + +  + +15,369 + +  + +  + +  + +16,781 + +  + +Acquisition and integration-related costs + +  + +  + +17,510 + +  + +  + +  + +5,946 + +  + +Restructuring + +  + +  + +13 + +  + +  + +  + +(80 + +) + +Non-qualified deferred compensation expenses + +  + +  + +3,233 + +  + +  + +  + +2,205 + +  + +Other income or expense related to investments and non-qualified deferred compensation plan assets* + +  + +  + +(2,584 + +) + +  + +  + +(2,454 + +) + +Income tax effect of non-GAAP adjustments + +  + +  + +(85,397 + +) + +  + +  + +(25,834 + +) + +Net income on a non-GAAP basis + +  + +$ + +261,785 + +  + +  + +$ + +227,373 + +  + +* + +Includes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense. + +Net Income Reconciliation + +  + +Years Ended + +  + +  + +December 31, 2022 + +  + +January 1, 2022 + +(in thousands) + +  + +(unaudited) + +Net income on a GAAP basis + +  + +$ + +848,952 + +  + +  + +$ + +695,955 + +  + +Stock-based compensation expense + +  + +  + +270,439 + +  + +  + +  + +210,090 + +  + +Amortization of acquired intangibles + +  + +  + +59,818 + +  + +  + +  + +67,216 + +  + +Acquisition and integration-related costs + +  + +  + +41,103 + +  + +  + +  + +22,413 + +  + +Restructuring + +  + +  + +55 + +  + +  + +  + +(1,048 + +) + +Non-qualified deferred compensation expenses (credits) + +  + +  + +(8,744 + +) + +  + +  + +6,163 + +  + +Special charges* + +  + +  + +— + +  + +  + +  + +26,832 + +  + +Other income or expense related to investments and non-qualified deferred compensation plan assets** + +  + +  + +14,171 + +  + +  + +  + +(6,745 + +) + +Income tax effect of non-GAAP adjustments + +  + +  + +(52,475 + +) + +  + +  + +(102,456 + +) + +Net income on a non-GAAP basis + +  + +$ + +1,173,319 + +  + +  + +$ + +918,420 + +  + +** + +Includes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense. + +Diluted Net Income Per Share Reconciliation + +  + +Three Months Ended + +  + +  + +December 31, 2022 + +  + +January 1, 2022 + +(in thousands, except per share data) + +  + +(unaudited) + +Diluted net income per share on a GAAP basis + +  + +$ + +0.88 + +  + +  + +$ + +0.63 + +  + +Stock-based compensation expense + +  + +  + +0.27 + +  + +  + +  + +0.20 + +  + +Amortization of acquired intangibles + +  + +  + +0.06 + +  + +  + +  + +0.06 + +  + +Acquisition and integration-related costs + +  + +  + +0.06 + +  + +  + +  + +0.02 + +  + +Restructuring + +  + +  + +— + +  + +  + +  + +— + +  + +Non-qualified deferred compensation expenses + +  + +  + +0.01 + +  + +  + +  + +0.01 + +  + +Other income or expense related to investments and non-qualified deferred compensation plan assets* + +  + +  + +(0.01 + +) + +  + +  + +(0.01 + +) + +Income tax effect of non-GAAP adjustments + +  + +  + +(0.31 + +) + +  + +  + +(0.09 + +) + +Diluted net income per share on a non-GAAP basis + +  + +$ + +0.96 + +  + +  + +$ + +0.82 + +  + +Shares used in calculation of diluted net income per share + +  + +  + +272,997 + +  + +  + +  + +278,253 + +  + +* + +Includes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense. + +Diluted Net Income Per Share Reconciliation + +  + +Years Ended + +  + +  + +December 31, 2022 + +  + +January 1, 2022 + +(in thousands, except per share data) + +  + +(unaudited) + +Diluted net income per share on a GAAP basis + +  + +$ + +3.09 + +  + +  + +$ + +2.50 + +  + +Stock-based compensation expense + +  + +  + +0.98 + +  + +  + +  + +0.75 + +  + +Amortization of acquired intangibles + +  + +  + +0.22 + +  + +  + +  + +0.24 + +  + +Acquisition and integration-related costs + +  + +  + +0.15 + +  + +  + +  + +0.08 + +  + +Restructuring + +  + +  + +— + +  + +  + +  + +— + +  + +Non-qualified deferred compensation expenses (credits) + +  + +  + +(0.03 + +) + +  + +  + +0.02 + +  + +Special charges* + +  + +  + +— + +  + +  + +  + +0.10 + +  + +Other income or expense related to investments and non-qualified deferred compensation plan assets** + +  + +  + +0.05 + +  + +  + +  + +(0.03 + +) + +Income tax effect of non-GAAP adjustments + +  + +  + +(0.19 + +) + +  + +  + +(0.37 + +) + +Diluted net income per share on a non-GAAP basis + +  + +$ + +4.27 + +  + +  + +$ + +3.29 + +  + +Shares used in calculation of diluted net income per share + +  + +  + +275,011 + +  + +  + +  + +278,858 + +  + +** + +Includes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense. + +Cadence expects that its corporate representatives will meet privately during the quarter with investors, the media, investment analysts and others. At these meetings, Cadence may reiterate the business outlook published in this press release. At the same time, Cadence will keep this press release, including the business outlook, publicly available on its website. + +Prior to the start of the Quiet Period (described below), the public may continue to rely on the business outlook contained herein as still being Cadence’s current expectations on matters covered unless Cadence publishes a notice stating otherwise. + +Beginning March 17, 2023, Cadence will observe a Quiet Period during which the business outlook as provided in this press release and the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q no longer constitute Cadence’s current expectations. During the Quiet Period, the business outlook in these documents should be considered historical, speaking as of prior to the Quiet Period only and not subject to any update by Cadence. During the Quiet Period, Cadence’s representatives will not comment on Cadence’s business outlook, financial results or expectations. The Quiet Period will extend until Cadence’s first quarter 2023 earnings release is published, which is currently scheduled for April 24, 2023. + +$ + +882,325 + +$ + +1,088,940 + +  + +486,710 + +  + +337,596 + +  + +128,005 + +  + +115,721 + +  + +209,727 + +  + +173,512 + +  + +1,706,767 + +  + +1,715,769 + +  + +371,451 + +  + +305,911 + +  + +1,374,268 + +  + +928,358 + +  + +354,617 + +  + +233,265 + +  + +853,691 + +  + +763,770 + +  + +476,277 + +  + +439,226 + +$ + +5,137,071 + +$ + +4,386,299 + +$ + +100,000 + +$ + +- + +  + +557,158 + +  + +417,283 + +  + +690,538 + +  + +553,942 + +  + +1,347,696 + +  + +971,225 + +  + +91,524 + +  + +101,148 + +  + +648,078 + +  + +347,588 + +  + +304,660 + +  + +225,663 + +  + +1,044,262 + +  + +674,399 + +  + +2,745,113 + +  + +2,740,675 + +$ + +5,137,071 + +$ + +4,386,299 + +$ + +845,880 + +  + +$ + +719,849 + +  + +$ + +3,340,197 + +  + +$ + +2,812,947 + +  + +  + +53,997 + +  + +  + +53,187 + +  + +  + +221,521 + +  + +  + +175,297 + +  + +  + +899,877 + +  + +  + +773,036 + +  + +  + +3,561,718 + +  + +  + +2,988,244 + +  + +  + +69,702 + +  + +  + +47,714 + +  + +  + +273,565 + +  + +  + +222,647 + +  + +  + +23,813 + +  + +  + +21,979 + +  + +  + +98,058 + +  + +  + +84,359 + +  + +  + +171,817 + +  + +  + +148,068 + +  + +  + +604,224 + +  + +  + +560,262 + +  + +  + +350,423 + +  + +  + +288,953 + +  + +  + +1,251,544 + +  + +  + +1,134,277 + +  + +  + +68,065 + +  + +  + +65,743 + +  + +  + +242,116 + +  + +  + +189,018 + +  + +  + +4,927 + +  + +  + +4,979 + +  + +  + +18,470 + +  + +  + +19,640 + +  + +  + +13 + +  + +  + +(80 + +) + +  + +55 + +  + +  + +(1,048 + +) + +  + +688,760 + +  + +  + +577,356 + +  + +  + +2,488,032 + +  + +  + +2,209,155 + +  + +  + +211,117 + +  + +  + +195,680 + +  + +  + +1,073,686 + +  + +  + +779,089 + +  + +  + +(9,082 + +) + +  + +(4,251 + +) + +  + +(22,934 + +) + +  + +(16,980 + +) + +  + +8,490 + +  + +  + +2,625 + +  + +  + +(5,389 + +) + +  + +6,326 + +  + +  + +210,525 + +  + +  + +194,054 + +  + +  + +1,045,363 + +  + +  + +768,435 + +  + +  + +(29,867 + +) + +  + +17,475 + +  + +  + +196,411 + +  + +  + +72,480 + +  + +$ + +240,392 + +  + +$ + +176,579 + +  + +$ + +848,952 + +  + +$ + +695,955 + +  + +$ + +0.89 + +  + +$ + +0.65 + +  + +$ + +3.13 + +  + +$ + +2.54 + +  + +$ + +0.88 + +  + +$ + +0.63 + +  + +$ + +3.09 + +  + +$ + +2.50 + +  + +  + +269,709 + +  + +  + +273,066 + +  + +  + +271,198 + +  + +  + +273,504 + +  + +  + +272,997 + +  + +  + +278,253 + +  + +  + +275,011 + +  + +  + +278,858 + +  + +December 31, + +  + +  + +January 1, + +  + +2022 + +  + +  + +  + +  + +2022 + +  + +$ + +1,088,940 + +  + +$ + +928,432 + +  + +  + +848,952 + +  + +  + +695,955 + +  + +  + +132,088 + +  + +  + +142,308 + +  + +  + +1,134 + +  + +  + +1,219 + +  + +  + +270,439 + +  + +  + +210,090 + +  + +  + +5,425 + +  + +  + +(580 + +) + +  + +(107,606 + +) + +  + +(43,178 + +) + +  + +204 + +  + +  + +525 + +  + +  + +3,342 + +  + +  + +(11,606 + +) + +  + +371 + +  + +  + +427 + +  + +  + +(138,471 + +) + +  + +2,014 + +  + +  + +(23,073 + +) + +  + +(39,027 + +) + +  + +(38,927 + +) + +  + +(34,342 + +) + +  + +(933 + +) + +  + +(7,133 + +) + +  + +113,945 + +  + +  + +67,356 + +  + +  + +131,462 + +  + +  + +100,731 + +  + +  + +43,542 + +  + +  + +16,199 + +  + +  + +1,241,894 + +  + +  + +1,100,958 + +  + +  + +(1,000 + +) + +  + +- + +  + +  + +366 + +  + +  + +128 + +  + +  + +(123,215 + +) + +  + +(65,298 + +) + +  + +(1,000 + +) + +  + +(1,583 + +) + +  + +(613,785 + +) + +  + +(226,201 + +) + +  + +(738,634 + +) + +  + +(292,954 + +) + +  + +585,000 + +  + +  + +- + +  + +  + +(485,000 + +) + +  + +- + +  + +  + +300,000 + +  + +  + +- + +  + +  + +(425 + +) + +  + +(1,285 + +) + +  + +105,331 + +  + +  + +87,772 + +  + +  + +(111,864 + +) + +  + +(117,982 + +) + +  + +(1,050,091 + +) + +  + +(612,297 + +) + +  + +(657,049 + +) + +  + +(643,792 + +) + +  + +(52,826 + +) + +  + +(3,704 + +) + +  + +(206,615 + +) + +  + +160,508 + +  + +$ + +882,325 + +  + +$ + +1,088,940 + +  + +2021 + +2022 + +46% + +44% + +46% + +43% + +45% + +47% + +45% + +45% + +46% + +46% + +12% + +14% + +13% + +12% + +13% + +16% + +13% + +17% + +13% + +15% + +18% + +19% + +18% + +21% + +19% + +18% + +18% + +17% + +18% + +18% + +18% + +17% + +17% + +18% + +17% + +14% + +18% + +16% + +17% + +16% + +6% + +6% + +6% + +6% + +6% + +5% + +6% + +5% + +6% + +5% + +100% + +100% + +100% + +100% + +100% + +100% + +100% + +100% + +100% + +100% + +2021 + +2022 + +23% + +23% + +23% + +24% + +23% + +22% + +23% + +22% + +22% + +22% + +27% + +28% + +29% + +29% + +29% + +27% + +27% + +29% + +28% + +28% + +26% + +25% + +23% + +21% + +24% + +28% + +24% + +25% + +25% + +26% + +14% + +13% + +14% + +14% + +13% + +13% + +14% + +12% + +12% + +12% + +10% + +11% + +11% + +12% + +11% + +10% + +12% + +12% + +13% + +12% + +100% + +100% + +100% + +100% + +100% + +100% + +100% + +100% + +100% + +100% + +Three Months Ending + +  + +Year Ending + +March 31, 2023 + +  + +December 31, 2023 + +Forecast + +  + +Forecast + +  + +  + +  + +31% - 32% + +  + +30.5% - 32.0% + +  + +  + +  + +  + +  + +  + +8% + +  + +8% + +1% + +  + +1% + +1% + +  + +1% + +  + +  + +  + +41% - 42% + +  + +40.5% - 42.0% + +Three Months Ending + +  + +  + +Year Ending + +March 31, 2023 + +  + +  + +December 31, 2023 + +Forecast + +  + +  + +Forecast + +  + +  + +  + +  + +$0.84 to $0.88 + +  + +  + +$3.24 to $3.34 + +  + +  + +  + +  + +0.28 + +  + +  + +1.21 + +0.05 + +  + +  + +0.21 + +0.05 + +  + +  + +0.15 + +0.01 + +  + +  + +0.09 + +  + +  + +  + +  + +$1.23 to $1.27 + +  + +  + +$4.90 to $5.00 + +Three Months Ending + +  + +  + +Year Ending + +March 31, 2023 + +  + +  + +December 31, 2023 + +Forecast + +  + +  + +Forecast + +  + +  + +  + +  + +$230 to $241 + +  + +  + +$886 to $913 + +  + +  + +  + +  + +77 + +  + +  + +330 + +15 + +  + +  + +58 + +13 + +  + +  + +40 + +1 + +  + +  + +24 + +  + +  + +  + +  + +$336 to $347 + +  + +  + +$1,338 to $1,365 + +†The non-GAAP measures presented in the table above should not be considered a substitute for financial results and measures determined or calculated in accordance with GAAP. + +CDNS-IR + +Category: Financial, Featured +View source version on businesswire.com: https://www.businesswire.com/news/home/20230212005011/en/ \ No newline at end of file diff --git a/news/CDNS/2023.02.16/Cadence Delivers 13 New VIP and Expands System VIP Portfolio to Accelerate Automotive, ...txt b/news/CDNS/2023.02.16/Cadence Delivers 13 New VIP and Expands System VIP Portfolio to Accelerate Automotive, ...txt new file mode 100644 index 0000000000000000000000000000000000000000..9c525d962928aab653fd3d61e330418bc7eac61e --- /dev/null +++ b/news/CDNS/2023.02.16/Cadence Delivers 13 New VIP and Expands System VIP Portfolio to Accelerate Automotive, ...txt @@ -0,0 +1,21 @@ + +Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced the availability of 13 new Verification IP (VIP) solutions that enable engineers to quickly and effectively verify their designs to meet the specifications for the latest standards protocols. The new Cadence® VIP offerings empower customers to confidently develop their next-generation automotive, hyperscale data center and mobile SoCs and microcontrollers while keeping pace with the latest industry standards, including Arm® AMBA® 5 CHI-f, Universal Chiplet Interconnect Express™ (UCIe™), GDDR7, DDR5 DIMM, MIPI® A-PHY® and SoundWire® I3S, and USB4 2.0 interfaces. + +The new Cadence VIP offer customers a comprehensive verification solution for the most complex protocols. Cadence customers have access to a consistent application programming interface (API) across all VIP with complete bus function models (BFMs), integrated protocol checks and coverage models, facilitating rapid adoption. The VIP support multiple application areas and specifications, including: + +All Cadence VIP solutions include Cadence TripleCheck™ technology, which provides users with a specification-compliant verification plan linked to comprehensive coverage models and a test suite to ensure compliance with the interface specification. The new VIP also support the expanded Cadence System-Level Verification IP (System VIP), which provides SoC-level test libraries, performance analysis, and data and cache coherency checkers. Using the expanded System VIP portfolio, customers can experience up to 10X efficiency improvements compared to a manual process for SoC verification. + +“The Cadence memory VIP is a critical part of our verification process and instrumental in the successful deployment of our memory PHY IP,” said Ricky Lau, co-founder and CTO of The Six Semiconductor Inc. “Cadence continues to deliver new VIP offerings and advanced SoC verification technologies that support the latest standards. The Cadence VIP offerings have significantly reduced our development time and increased the confidence of our customers.” + +“As requirements evolve and demand increases for higher bandwidth, lower power and more effective cache coherency management, new protocols arrive to address these issues,” said Paul Cunningham, senior vice president and general manager of the System & Verification Group at Cadence. “With these 13 new VIP, Cadence is offering customers solutions to ensure the designs comply with the standard specifications as well as application-specific timing, power and performance metrics, providing the fastest path to IP and SoC verification closure.” + +The new VIP solutions are part of the broader Cadence verification full flow, which includes Palladium® Z2 emulation, Protium™ X2 prototyping, Xcelium™ simulation, the Jasper™ Formal Verification Platform, the Helium™ Virtual and Hybrid Studio, and the Verisium™ AI-Driven Verification Platform. The Cadence verification full flow delivers the highest verification throughput of bugs per dollar invested per day. The VIP solutions and verification full flow support the company’s Intelligent System Design™ strategy, enabling SoC design excellence. For more information, please visit www.cadence.com/go/NewVIP2023. + +About Cadence + +Cadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world’s most innovative companies, delivering extraordinary electronic products from chips to boards to complete systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare. For eight years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com. + +© 2023 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. Arm and AMBA are registered trademarks of Arm Limited (or its subsidiaries) in the US and/or elsewhere. MIPI, A-PHY and SoundWire are registered trademarks owned by MIPI Alliance. UCIe Consortium, Universal Chiplet Interconnect Express, and UCIe are trademarks of the UCIe Consortium. All other trademarks are the property of their respective owners. + +Category: Featured +View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005110/en/ \ No newline at end of file diff --git a/news/CEG/2023.01.30/Constellation Energy : Q4 2022 Earnings Call Information.txt b/news/CEG/2023.01.30/Constellation Energy : Q4 2022 Earnings Call Information.txt new file mode 100644 index 0000000000000000000000000000000000000000..e5357fb837c57fe689746c9efd3c87db948ce1ba --- /dev/null +++ b/news/CEG/2023.01.30/Constellation Energy : Q4 2022 Earnings Call Information.txt @@ -0,0 +1,45 @@ + + + + January 30, 2023 + + + Notice to Constellation Energy's Financial Community: + + + FOURTH QUARTER 2022 EARNINGS RELEASE AND + + + CONFERENCE CALL / WEBCAST SCHEDULE + + + Constellation Energy will discuss fourth quarter 2022 earnings in a conference call scheduled for Thursday, February 16, 2023 at 10:00 AM Eastern Time. + + + To access the call by phone, please follow the registration link, and you will be provided with dial-in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. + + + You will also be able to listen to a live audio webcast here. The link is also available on the Investor Relations page of Constellation Energy's website (https://investors.constellationenergy.com/). The webcast will be archived and available for replay. + + + Constellation Energy Investor Relations + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Constellation Energy Corporation published this content on 30 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 12:18:04 UTC. + + diff --git a/news/CEG/2023.01.30/Quaker Houghton supports clean energy with Constellation advancing its goal of achievin...txt b/news/CEG/2023.01.30/Quaker Houghton supports clean energy with Constellation advancing its goal of achievin...txt new file mode 100644 index 0000000000000000000000000000000000000000..74e239482874772b8607f9d2d3c22410f8015730 --- /dev/null +++ b/news/CEG/2023.01.30/Quaker Houghton supports clean energy with Constellation advancing its goal of achievin...txt @@ -0,0 +1,18 @@ + + +CONSHOHOCKEN, Pa., Jan. 30, 2023 /PRNewswire/ -- Quaker Houghton (NYSE: KWR) announced today that it has entered into a contract with Constellation to purchase Renewable Energy Certificates ("RECs") to match approximately half of its total U.S. based electricity needs. +Andy Tometich, Quaker Houghton's Chief Executive Officer and President stated, "Sustainability is core to our business and is a critical, driving force in our long-term plan.  We are pleased to accelerate the achievement of our greenhouse gas emissions targets through the use of renewable energy certificates and remain committed to delivering on our ambitious 2030 sustainability goals." +The RECs supplied by Constellation are Green-e® Energy certified and sourced from wind and/or solar energy generators located in the contiguous United States.  Throughout the term of the contract, 100% of the electricity purchased by certain Quaker Houghton U.S. locations will be purchased via a renewable source or matched with RECs, which are subsequently retired.  Each Renewable Energy Certificate retired represents the positive environmental attributes of one megawatt hour (MWh) of electricity generated by a renewable generator.  Through the purchase of RECs, Quaker Houghton is supporting the operation and development of facilities that generate clean, renewable energy in locations where on-site generation is not currently feasible. +"Constellation is pleased to support the sustainability goals of our customers," said Daniel J. Verbanac, Senior Vice President, Retail for Constellation. "As America's leading clean energy producer, Constellation lauds Quaker Houghton's choice of renewable energy which helps reduce pollution and demonstrates a commitment to the environment." +For additional information on Quaker Houghton's sustainability program and comprehensive goals, visit www.quakerhoughton.com/sustainability. +About Quaker Houghton:Quaker Houghton is the global leader in industrial process fluids.  With a presence around the world, including operations in over 25 countries, our customers include thousands of the world's most advanced and specialized steel, aluminum, automotive, aerospace, offshore, can, mining, and metalworking companies.  Our high-performing, innovative and sustainable solutions are backed by best-in-class technology, deep process knowledge and customized services.  With approximately 4,700 employees, including chemists, engineers and industry experts, we partner with our customers to improve their operations so they can run even more efficiently, even more effectively, whatever comes next.  Quaker Houghton is headquartered in Conshohocken, Pennsylvania, located near Philadelphia in the United States.  Visit quakerhoughton.com to learn more. +About ConstellationHeadquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation's largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90 percent carbon-free, our hydro, wind and solar facilities paired with the nation's largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes, providing 10 percent of the nation's clean energy. We are further accelerating the nation's transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100 percent carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and Twitter. +Green-e® Energy certifies that renewable energy certificates meet the minimum environmental and consumer protection standards established by the non-profit Center for Resource Solutions. For more information on Green-e® Energy certification requirements, call 1-888-63-GREEN or log on to green-e.org. + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/quaker-houghton-supports-clean-energy-with-constellation-advancing-its-goal-of-achieving-carbon-neutrality-301733890.html +SOURCE Quaker Houghton + + diff --git "a/news/CEG/2023.01.31/Constellation Marks First Anniversary with $1 Million \342\200\234Powering Change\342\200\235 Wor...txt" "b/news/CEG/2023.01.31/Constellation Marks First Anniversary with $1 Million \342\200\234Powering Change\342\200\235 Wor...txt" new file mode 100644 index 0000000000000000000000000000000000000000..fdc566f8c23f8e4eac3f81d331eb85e3716b44ce --- /dev/null +++ "b/news/CEG/2023.01.31/Constellation Marks First Anniversary with $1 Million \342\200\234Powering Change\342\200\235 Wor...txt" @@ -0,0 +1,51 @@ + +In celebration of its first anniversary as a stand-alone company on Feb. 2, Constellation (NASDAQ: CEG), the nation’s largest producer of carbon-free energy, announced today it is launching a $1 million workforce development program as part of its commitment to foster equitable change in underserved communities. The new program, called Powering Change, will provide grants to five nonprofit organizations focused on improving job awareness and training, providing advancement and upskilling opportunities and breaking down employment barriers for individuals from underrepresented communities. + +“We’re proud to support these five nonprofits and the significant work they’re leading to connect hard-working women and men with long-term, good-paying careers,” said Joe Dominguez, president and CEO, Constellation. “As we mark our one-year anniversary, Powering Change exemplifies Constellation’s commitment to strengthening our communities and building the workforce of the future.” + +The five nonprofits receiving grant funding in the program’s first year are: + +“INROADS is excited and honored to partner with Constellation to create a pipeline of diverse and qualified talent for the energy field,” said Forest T. Harper, president and CEO, INROADS. “Constellation’s investment in INROADS not only prepares deserving students for career success, but also expands our reach into clean energy careers. We commend Constellation’s forward thinking and commitment to creating a diverse future workforce for an industry so critical to environmental sustainability and America’s economic success.” + +The launch of Powering Change caps off a successful inaugural year for Constellation, which included hiring approximately 2,000 new employees throughout its operations. Already the nation’s largest generator of carbon-free energy, Constellation is working to lead the response to the climate crisis, helping power homes and businesses across the U.S. with clean energy, reliably and affordably. + +In its first year, Constellation committed to produce 95 percent of its energy from carbon-free sources by 2030 and 100 percent by 2040 as well as achieve a 100 percent reduction in operational emissions by 2040. Constellation also launched a collaboration with Microsoft to develop carbon-free energy matching technology and began work on the nation’s first nuclear-powered clean hydrogen facility at its Nine Mile Point plant in New York. + +Last year, Constellation donated more than $12.5 million to charitable causes, with $4.6 million of that total coming from employee contributions. Constellation employees also demonstrated their commitment to their communities by logging more than 80,000 volunteer hours in 2022. + +About Constellation + +Headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90 percent carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes, providing 10 percent of the nation’s clean energy. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100 percent carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and Twitter. + +Powering Change Nonprofits – Quotes/Info + +INROADS + +“INROADS is excited and honored to partner with Constellation to create a pipeline of diverse and qualified talent for the energy field,” said Forest T. Harper, president and CEO, INROADS. “Constellation’s investment in INROADS not only prepares deserving students for career success, but also expands our reach into clean energy careers. We commend Constellation’s forward thinking and commitment to creating a diverse future workforce for an industry so critical to environmental sustainability and America’s economic success.” + +Founded in 1970, INROADS delivers innovative programs and creative solutions that identify, accelerate, and elevate the development of underrepresented talent throughout their careers. Through this development, students become equipped for corporate and community leadership that effects community renewal, social change and elevates economic status and quality of life. INROADS has more than 30,000 alumni, over 1,300 interns and serves 6,000+ students and 250+ corporate clients. Learn more at INROADS.org and connect with us on Facebook, Twitter, Instagram, and LinkedIn: @INROADSInc. + +Chicago Women in Trades + +“With Constellation’s support, Chicago Women in Trades will continue to develop our new pre-apprenticeship program in Philadelphia, doubling the number of low-income women served, and will provide enhanced case management, placement assistance and support services to remove barriers to employment for aspiring tradeswomen,” said Jayne Vellinga, executive director, Chicago Women in Trades. “Because Constellation is a major employer in the industry, its leadership in expanding equity for women matters, and we are excited about what can be accomplished together.” + +Founded in 1981, Chicago Women in Trades (CWIT) is a nonprofit organization committed to improving women’s economic equity by increasing the number of women working in well-paid, skilled trades jobs traditionally held by men. Originally established by tradeswomen as a support network, CWIT addresses the barriers that prohibit women and girls from entering and succeeding in male-dominated industries by creating opportunities and promoting equitable workplaces and conditions. + +National Urban League + +“Providing young workers with opportunities for advancement and employment are key to improve quality of life and address the many systemic issues that contribute to barriers of employment,” said Marc H. Morial, president and CEO, National Urban League. “The National Urban League is proud of this newly forged partnership with Constellation that will allow us to continue to provide essential services like job training and workforce development to our constituents and close the employment gap.” + +The National Urban League is a historic civil rights organization dedicated to economic empowerment in order to elevate the standard of living in historically underserved urban communities. The National Urban League spearheads the efforts of its 92 local affiliates through the development of programs, public policy research and advocacy, providing direct services that impact and improve the lives of more than 2 million people annually nationwide. Visit www.nul.org and follow us on Facebook, Twitter and Instagram: @NatUrbanLeague. + +SkillsUSA + +“SkillsUSA is thrilled to partner with Constellation. With their support, we can continue our essential work to close the skills gap, while presenting robust opportunities for young workers who enjoy challenging careers that offer stability and benefits,” said Chelle Travis, executive director, SkillsUSA. “Because of Constellation’s support, SkillsUSA will generate more awareness among students considering the skilled workforce as a career option.” + +SkillsUSA is a partnership of students, teachers and industry working together to ensure America has a skilled workforce. We help each student excel. A nonprofit national education association, SkillsUSA serves middle-school, high-school and college/postsecondary students preparing for careers in trade, technical and skilled service occupations. + +Vehicles for Change + +“Our partnership with Constellation will provide 30 individuals and families with vehicles, giving them access to better employment and quality of life,” said Martin Schwartz, president and CEO, Vehicles for Change. “Constellation's support helps us end generational poverty and alleviate financial hardship for low-income families.” + +Vehicles for Change (VFC) accepts and repairs donated cars and awards them to pre-qualified families for as little as $950, enabling low-income families to become self-sufficient. As a nonprofit organization, VFC receives 99 percent of its car donations from the public. Since 1999, VFC has awarded more than 7,600 cars to low-income families, changing the lives of more than 26,000 people. Eligible families are referred to VFC through partnering social service-type agencies. Our Full Circle Training Program interns repair donated vehicles as a part of their hands-on training. The training program is an employer-driven, paid internship, social enterprise program designed to provide auto-technician training to individuals with multiple barriers to employment, including many recently released from prison. VFC car donors gain a substantial tax advantage unavailable to most other charities. For additional information about Vehicles for Change or to donate a vehicle, visit www.vehiclesforchange.org or call 410-242-9674. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230131005445/en/ \ No newline at end of file diff --git a/news/CEG/2023.02.06/Constellation, Union Partners Sign Pledge to Increase Diversity Among Historically Unde...txt b/news/CEG/2023.02.06/Constellation, Union Partners Sign Pledge to Increase Diversity Among Historically Unde...txt new file mode 100644 index 0000000000000000000000000000000000000000..ff3d437416c1e0d7c8ac1ad48d235157e6d471f9 --- /dev/null +++ b/news/CEG/2023.02.06/Constellation, Union Partners Sign Pledge to Increase Diversity Among Historically Unde...txt @@ -0,0 +1,24 @@ + +Constellation and its union partners have signed a historic pledge to increase diversity in the building trades among populations that have not historically worked in the energy industry. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230206005174/en/Constellation CEO Joe Dominguez (left) and NABTU President Sean McGarvey pledged to increase diversity in the building trades among populations that have not historically worked in the energy industry. +(Photo: Business Wire) +The pledge, signed by Constellation and North America’s Building Trades Unions (NABTU) leaders last week, applies to all Constellation building trades projects and seeks to increase access, equity and advancement opportunities for underrepresented groups, such as women and communities of color. The pledge also sets standards to eliminate bias and create a culture of belonging in all aspects of recruitment, hiring, training, and retention practices. + +Constellation, the largest generator of carbon free energy in the U.S. with a fleet of 12 nuclear clean energy centers operating in Illinois, New York, Pennsylvania and Maryland, employs several thousand members of North America’s Building Trades Unions each year. + +“Diversity, equity and inclusion have long been core values at Constellation. We are committed to ensuring our workforce is reflective of diverse communities throughout America,” said Joe Dominguez, Constellation’s President and CEO. “This monumental pledge will help ensure Americans of all backgrounds can join us on the journey towards a clean energy future.” + +Constellation, its contractors and union partners will report each year on the engagement and partnerships formed with community leaders and the workforce development programs to help meet the pledge. Along with Constellation and NABTU, pledge signees include industry employers such as Allied Power, Siemens Energy, GE-APM, JJ White, BrandSafway, and Brieser Construction. + +NABTU is a labor organization representing more than three million skilled craft professionals in the United States and Canada. It is composed of 14 national and international unions and over 330 provincial, state and local building and construction trades councils. President Sean McGarvey has more than 40 years of experience in the industry and said more can be done to diversify the ranks of employees. + +“Improving diversity and making work environments across the skilled trades more equitable are top priorities at NABTU, and we are proud to sign this pledge with Constellation to continue to create opportunities within the energy sector for people of all backgrounds,” said Sean McGarvey, President of North America’s Building Trades Unions. “We know it takes deliberate and intentional work to recruit and retain a more diverse workforce. We look forward to working with Constellation to maximize this commitment and provide more meaningful middle-class career pathways for diverse communities across America." + +Constellation, NABTU and its union partners have committed to form an oversight committee comprised of representatives from each signatory to facilitate their efforts, which will include transparency of recruitment efforts, areas of opportunity, and sharing of best practices. + +Constellation is committed to being a leader in the industry to ensure there’s equitable access to its workforce for Americans from all cultures and walks of life. + +About Constellation + +Headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90 percent carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes, providing 10 percent of the nation’s clean energy. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100 percent carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and Twitter. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230206005174/en/ \ No newline at end of file diff --git a/news/CEG/2023.02.13/Hourly Carbon-Free Energy Matching Boosted by New PJM Tracking System.txt b/news/CEG/2023.02.13/Hourly Carbon-Free Energy Matching Boosted by New PJM Tracking System.txt new file mode 100644 index 0000000000000000000000000000000000000000..af6c543a417b8e7595db5c51bc76d7f538247be3 --- /dev/null +++ b/news/CEG/2023.02.13/Hourly Carbon-Free Energy Matching Boosted by New PJM Tracking System.txt @@ -0,0 +1,17 @@ + +Constellation (Nasdaq: CEG), the nation’s largest producer of carbon-free energy and a leading competitive retail supplier, applauds today’s announcement by PJM―the nation’s largest grid operator serving 13 states and the District of Columbia―to provide hourly time-stamped carbon-free energy certificates. This new capability will make it even easier for customers―including producers of clean hydrogen―to demonstrate that the energy they are using is carbon free every hour of the day. It also enhances Constellation’s groundbreaking Hourly Carbon-Free Energy Matching product which matches a customer’s electricity needs with regional, clean, carbon-free energy 24 hours a day, seven days a week, 365 days a year. Customers who choose this product will now have a transparent and independent way to certify that they are meeting their clean energy goals. + +“This advancement is enabling companies like Constellation to offer a more complete range of products that help customers meet their sustainability goals,” said Kathleen Barrón, chief strategy officer, Constellation. “As we work toward our purpose of accelerating the transition to a carbon-free future, we can provide this critical service for customers who want more clear and accurate data on their emissions impact, including producers of clean hydrogen who must demonstrate that they are using zero-carbon energy to qualify for new federal tax credits.” + +The new hourly energy attribute certificate functionality will support time-based carbon-free matching claims for energy suppliers and buyers in the PJM footprint by allowing users to retire Renewable Energy Certificates (RECs) and Emission-Free Energy Certificates (EFECs) related to specific hours of carbon-free energy production. Existing REC and EFEC certificates are usually retired on an annual basis without considering where or when the energy was produced. Hourly solutions go beyond other programs that aggregate clean energy megawatts over time and give customers confidence that their electricity procurement is actually mitigating the emissions impact of their consumption. + +As more organizations set hourly-matched carbon-free energy goals, having an independent, accurate system to track ownership of the time-matched attributes is critical to support the growth of the products needed to achieve a decarbonized grid every hour of every day. + +Constellation’s Hourly Carbon-Free Energy Matching product was announced in March and is currently available on a limited basis. + +Click here to read PJM’s press release. + +About Constellation + +Headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90 percent carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes, providing 10 percent of the nation’s clean energy. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100 percent carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and Twitter. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230213005432/en/ \ No newline at end of file diff --git a/news/CEG/2023.02.16/Constellation Energy : Q4 2022 Earnings Presentation.txt b/news/CEG/2023.02.16/Constellation Energy : Q4 2022 Earnings Presentation.txt new file mode 100644 index 0000000000000000000000000000000000000000..9f016fd7b62672d96ce1cbe6523ff3756c9b68a0 --- /dev/null +++ b/news/CEG/2023.02.16/Constellation Energy : Q4 2022 Earnings Presentation.txt @@ -0,0 +1,254 @@ + + + + Earnings Conference Call Fourth Quarter 2022 + + + February 16, 2023 + + + + + + Cautionary Statements Regarding Forward-Looking Information + + + This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and + + + ans and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic, and financial performance, are intended to identify such forward-looking statements. + + + The factors that could cause actual results to differ materially from the forward-looking statements made by Constellation Energy Corporation and Constellation Energy 2022 Annual Report on Form 10-K (to be filed on al Condition and Results of Operations, (c) Part + + + II, ITEM 8. Financial Statements and Supplementary Data: Note 19, Commitments and Contingencies, and (d) other factors discussed in filings with the SEC by the Registrants. + + + Investors are cautioned not to place undue reliance on these forward-looking statements, whether written or oral, which apply only as of the date of this presentation. Neither of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this presentation. + + + + + 2 + + + + + + + Non-GAAP Financial Measures + + + The Registrants report their financial results in accordance with accounting principles generally accepted in the United States (GAAP). Constellation supplements the reporting of financial information determined in accordance with GAAP with certain non-GAAP financial measures, including: + + + +Adjusted EBITDA represents earnings before interest, income taxes, depreciation and amortization, and excludes certain costs, expenses, gains and losses and other specified items, including mark-to-market adjustments from economic hedging activities and fair value adjustments related to gas imbalances and equity investments, decommissioning related activity, asset impairments, certain amounts associated with plant retirements and divestitures, pension and other post-employment benefits (OPEB) non-service credits, separation related costs and other items as set forth in the Appendix. Includes nuclear fuel amortization expense. + + +Adjusted cash flows from operations primarily includes net cash flows from operating activities and Collection of Deferred Purchase Price (DPP) related to the revolving accounts receivable arrangement, which is presented in cash flows from investing activities under GAAP + + +Free cash flows before growth (FCFbg) is adjusted cash flows from operations less capital expenditures under GAAP for maintenance and nuclear fuel, non-recurring capital expenditures related to separation and Enterprise Resource Program (ERP) system implementation, changes in collateral, net merger and acquisitions, and equity investments and other items as set forth in the Appendix + + +Adjusted operating revenues excludes the mark-to-market impact of economic hedging activities due to the volatility and unpredictability of the future changes in commodity prices + + +Adjusted purchased power and fuel excludes the mark-to-market impact of economic hedging activities and fair value adjustments related to gas imbalances due to the volatility and unpredictability of the future changes in commodity prices + + +Total gross margin is defined as adjusted operating revenues less adjusted purchased power and fuel expense, excluding revenue related to decommissioning, gross receipts tax, JExel Nuclear JV, variable interest entities, and net of direct cost of sales for certain end-user businesses + + +Adjusted operating and maintenance (O&M) excludes direct cost of sales for certain end-user businesses, ARO accretion expense from unregulated units and decommissioning costs that do not affect profit and loss, the impact from operating and maintenance expense related to variable interest entities at Constellation, and other items as set forth in the reconciliation in the Appendix + + + + Due to the forward-looking nature of some forecasted non-GAAP measures, information to reconcile the forecasted adjusted (non-GAAP) measures to the most directly comparable GAAP measure may not be available, as management is unable to project all of these items for future periods. + + + + + 3 + + + + + + + Non-GAAP Financial Measures Continued + + + de + + + operating performance by excluding items that are considered by management to be not directly related to the ongoing operations of the business. In addition, this information is among the primary indicators management uses as a basis for evaluating performance, allocating resources, setting incentive compensation targets and planning and forecasting of future periods. + + + + + + These non- + + + + + tations. Constellation has provided + + + + + + these non-GAAP financial measures as supplemental information and in addition to the financial measures that are calculated and presented in accordance with GAAP. These non-GAAP measures should not be deemed more useful than, a substitute for, or an alternative to the most comparable GAAP measures provided in the materials presented. + + + Non---GAAP measures to the most comparable GAAP measures are provided in the appendices and attachments to this presentation, except for the reconciliation for total gross margin*, which appears on slide 36 of this presentation. + + + + + 4 + + + + + + + Delivered on Our Commitments in 2022 + + + Enduring Businesses Ready to Meet the Climate Crisis + + + Generated ~180 TWhs of clean energy, avoiding ~127 million metric tons of carbon dioxide; + + + equivalent to over 27.5M passenger vehicles being removed for one year + + + + + + +Nuclear capacity factor of 94.8% + + +98.4% power dispatch match + + +95.8% wind and solar energy capture + + +Partnered with Microsoft to develop an hourly carbon-free energy matching technology that will allow our customers to have a transparent and independent way to certify that they are meeting their clean energy goals + + + + + + +Secured nuclear fuel supply through 2028 + + +Pilot program to begin hydrogen production at Nine Mile Point + + +Hydrogen hubs being encouraged by DOE + + +Executed two largest CORe deals ever + + +Ranked overall #1 Retail Energy Supplier in + + + + + + + Premier ESG Company + + + + + + +Introduced industry-leading climate goals + + +Issued carbon emissions reports to customers + + +Published first sustainability report + + +Launched $1M workforce development program + + + + + + +Created first DEI Advisory Board + + +Donated more than $12.5M to charitable causes, including $4.6M from employee contributions + + +80,000 hours of employee volunteerism + + + + + + + Delivering Value for Our Shareholders + + + + + + +Earned Adjusted EBITDA* of $2,667M, above our revised guidance range + + +Paid down $2.5B in long-term debt and term loans, and generated strong FCF to support investment grade balance sheet + + + + + + +S&P upgraded to BBB + + +Paid $185M in dividends + + + + + + + 5 + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Constellation Energy Corporation published this content on 16 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 12:08:04 UTC. + + diff --git a/news/CEG/2023.02.16/Constellation Energy : Q4 2022 Earnings Release and Tables.txt b/news/CEG/2023.02.16/Constellation Energy : Q4 2022 Earnings Release and Tables.txt new file mode 100644 index 0000000000000000000000000000000000000000..629ca02ca53769bdde43ac30eaec77d719b0c019 --- /dev/null +++ b/news/CEG/2023.02.16/Constellation Energy : Q4 2022 Earnings Release and Tables.txt @@ -0,0 +1,609 @@ + + + + Exhibit 99.1 + + + News Release + + +Contact: Paul Adams + + + Corporate Communications 410-470-4167 + + + Emily Duncan Investor Relations 833-447-2783 + + + CONSTELLATION REPORTS FOURTH QUARTER AND FULL YEAR 2022 + + + RESULTS AND INITIATES 2023 FINANCIAL OUTLOOK + + + Earnings Release Highlights + + + +GAAP Net Income of $34 million and Adjusted EBITDA (non-GAAP) of $605 million for the fourth quarter of 2022. GAAP Net Loss of ($160) million and Adjusted EBITDA (non-GAAP) of $2,667 million for the full year 2022. + + +Introducing 2023 Adjusted EBITDA (non-GAAP) guidance range of $2,900 million to $3,300 million + + +Announcing initial capital allocation strategy focused on supporting and growing our business and returning capital to shareholders. It includes $1.5 billion in organic growth capital that will exceed our double-digit return threshold, doubling the per share dividend from the 2022 level and targeting growth at 10% thereafter, and authorizing $1 billion in share repurchases + + +During Winter Storm Elliott, from December 23 through December 25, our always-on nuclear fleet provided reliable power to homes and businesses as record-setting low temperatures blanketed the PJM region and a significant portion of fossil-fueled generators failed to perform + + +Our best-in-class nuclear fleet operated at a capacity factor of 95.4% for the fourth quarter of 2022 and 94.8% for the full year 2022, marking more than a decade as the industry leader among major nuclear operators + + +Celebrated our first anniversary by launching a $1 million workforce development program aimed at fostering change in underserved communities + + + +Baltimore (Feb. 16, 2023) - Constellation Energy Corporation (Nasdaq: CEG) today reported its financial results for the fourth quarter and full year 2022. + + + "We had an incredible first year that exceeded expectations as we adapted to rapidly evolving market conditions, successfully advocated for clean energy policies and positioned the company for sustainable, long-term growth," said Joe Dominguez, president and CEO of Constellation. "I want to emphasize that there is no commodity more valuable to our economy, national security and way of life than energy that is carbon-free, affordable and always there when you need it, and no U.S. company produces more of it than we do. The unique reliability and resiliency of our nuclear fleet was driven home yet again during Winter Storm Elliott, when our operated fleet performed at 100 percent, helping to prevent rolling blackouts on + + + 1 + + + + + Christmas Eve as fossil generation in our nation's largest electric grid failed. Nuclear's value to the grid was also proven in the 2014 polar vortex and again in 2021 during Winter Storm Uri, and it's only going to increase in the years ahead as we invest to extend the lives of our nuclear plants, increase their output and utilize their carbon-free energy to power the dirtiest parts of our economy with clean hydrogen. We set out one year ago to be the nation's answer to the climate crisis, and today we have the assets and financial foundation to deliver on that promise." + + + "Our strong financial position allows us to return exceptional value to shareholders by doubling our dividend and authorizing a $1 billion share repurchase program, while still leaving us the flexibility to build a new, clean hydrogen business and reserve $2 billion in unallocated capital to invest in other organic and inorganic growth as opportunities arise, or return additional capital to shareholders," said Dan Eggers, chief financial officer of Constellation. "Operationally, our nuclear fleet remains the most reliable and efficient in the industry and our commercial business delivered high value in a market buffeted by global events. For the year, we delivered $2.667 billion in adjusted EBITDA, which exceeded the top of our range, and we are introducing 2023 adjusted EBITDA guidance of $2.9 billion to $3.3 billion." + + + Fourth Quarter 2022 + + + Our GAAP Net Income for the fourth quarter of 2022 was $34 million, down from $42 million GAAP Net Income in the fourth quarter of 2021. Adjusted EBITDA (non-GAAP) for the fourth quarter of 2022 decreased to $605 million from $1,027 million in the fourth quarter of 2021. For the reconciliations of GAAP Net Income to Adjusted EBITDA (non-GAAP), refer to the tables beginning on page 4. + + + Adjusted EBITDA (non-GAAP) in the fourth quarter of 2022 primarily reflects: + + + +Increased labor, contracting, and materials, unfavorable market and portfolio conditions, and decreased capacity revenues, partially offset by favorable nuclear outages. + + + + Full Year 2022 + + + Our GAAP Net Loss for 2022 was ($160) million, compared to ($205) million GAAP Net Loss in 2021. Adjusted EBITDA (non-GAAP) for 2022 increased to $2,667 million from $2,185 million in 2021. + + + Adjusted EBITDA (non-GAAP) for the full year 2022 primarily reflects: + + + +The absence of impacts from the February 2021 extreme cold weather event, partially offset by decreased capacity revenues, increased labor, contracting, and materials, and lower CTV gains in 2022 compared to 2021. + + + + Initiates Annual Guidance for 2023 + + + We introduced a guidance range for 2023 Adjusted EBITDA (non-GAAP) of $2,900 million to $3,300 million. The outlook for Adjusted EBITDA (non-GAAP) excludes the following items: + + + +Income taxes + + +Depreciation and amortization + + +Interest expense, net + + +Unrealized impacts of fair value adjustments + + +Decommissioning-relatedactivities + + +Pension and Other Postretirement Employment Benefit (OPEB) non-service credits + + +Separation costs + + +Enterprise Resource Program (ERP) system implementation + + +Other items not directly related to the ongoing operations of the business + + +Noncontrolling interest related to exclusion items + + + + 2 + + + + + Recent Developments and Fourth Quarter Highlights + + + +Initial Capital Allocation Strategy: We are announcing our capital allocation strategy for 2023 and 2024 supporting our core principles previously laid out at Analyst Day. Our balance sheet strength is the foundation of this strategy. Through our strong free cash flows, we will grow the business and return capital to shareholders. We are allocating capital towards our best-in-class generation fleet by committing $1.5 billion of growth capital over the next three years, including nuclear uprates, wind repowering and hydrogen. These organic growth opportunities are projected to exceed our double-digit return threshold. We will double the annual dividend in 2023 from $0.5640 per share to $1.1280 per share while targeting growth at 10% annually. In our commitment to return value to shareholders, we are also authorizing $1 billion in share buybacks. + + +Dividend Declaration: In keeping with the newly announced capital allocation strategy, our Board of Directors has declared a quarterly dividend of $0.2820 per share on our common stock. The dividend is payable on Friday, March 10, 2023, to shareholders of record as of 5 p.m. Eastern time on Monday, February 27, 2023. + + +December 2022 PJM Performance Bonuses: On Dec. 23, 2022, and continuing through the morning of Dec. 25, 2022, Winter Storm Elliott blanketed the entirety of PJM's footprint with record low temperatures and extreme weather conditions. A significant portion of PJM's fossil generation fleet failed to perform as reserves were called, while our operated nuclear fleet performed at 100 percent and helped avoid a grid failure. PJM's initial estimate of non- performance charges ranges from $1 billion to $2 billion and, in accordance with its tariff, funds collected from those charges are redistributed to generating resources that performed above expectations during the event, including nuclear. Leveraging preliminary data from PJM and applying significant judgments and assumptions, we recognized an estimated benefit of $109 million (pre-tax) for performance bonuses (net of non-performance charges), primarily driven by the over performance of our nuclear fleet that prevented rolling blackouts across PJM. + + +Nuclear Operations: Our nuclear fleet, including our owned output from the Salem Generating Station, produced 44,436 gigawatt-hours (GWhs) in the fourth quarter of 2022, compared with 42,604 GWhs in the fourth quarter of 2021. Excluding Salem, our nuclear plants at ownership achieved a 95.4% capacity factor for the fourth quarter of 2022, compared with 92.4% for the fourth quarter of 2021. There were 65 planned refueling outage days in the fourth quarter of 2022 and 90 in the fourth quarter of 2021. There were three non-refueling outage days in the fourth quarter of 2022 and 24 in the fourth quarter of 2021. + + +Natural Gas, Oil, and Renewables Operations: The dispatch match rate for our gas and hydro fleet was 96.6% in the fourth quarter of 2022, compared with 98.8% in the fourth quarter of 2021. Energy capture for the wind and solar fleet was 95.9% in the fourth quarter of 2022, compared with 94.3% in the fourth quarter of 2021. + + +"Powering Change" Workforce Development Initiative: In celebration of our first anniversary as a stand-alonecompany on Feb. 2, we announced the launch of a $1 million workforce development program as part of our commitment to foster equitable change in underserved communities. The new program, called Powering Change, will provide grants to five nonprofit organizations focused on improving job awareness and training, providing advancement and upskilling opportunities and breaking down employment barriers for individuals from underrepresented communities. + + + + 3 + + + + + GAAP/Adjusted EBITDA (non-GAAP) Reconciliation + + + Adjusted EBITDA (non-GAAP) for the fourth quarter of 2022 and 2021, respectively, does not include the following items that were included in our reported GAAP Net Income: + + + + + + (in millions) + + + + + + + Three Months Ended + + + + + + + Three Months Ended + + + + + + + + + December 31, 2022 + + + + + + + December 31, 2021 + + + + + + + GAAP Net Income Attributable to Common Shareholders + + + + + $ + + + + + 34 + + + + + $ + + + + + 42 + + + + + + + Income Taxes + + + + + + + 133 + + + + + + + 117 + + + + + + + Depreciation and Amortization + + + + + + + 272 + + + + + + + 268 + + + + + + + Interest Expense, Net + + + + + + + 64 + + + + + + + 72 + + + + + + + Unrealized Loss on Fair Value Adjustments + + + + + + + 413 + + + + + + + 771 + + + + + + + Asset Impairments + + + + + + + - + + + + + + + 4 + + + + + + + Plant Retirements and Divestitures + + + + + + + (7) + + + + + + + 11 + + + + + + + Decommissioning-Related Activities + + + + + + + (306) + + + + + + + (275) + + + + + + + Pension & OPEB Non-Service Credits + + + + + + + (31) + + + + + + + (14) + + + + + + + Separation Costs + + + + + + + 41 + + + + + + + 24 + + + + + + + COVID-19 Direct Costs + + + + + + + - + + + + + + + 11 + + + + + + + ERP System Implementation Costs + + + + + + + 6 + + + + + + + 3 + + + + + + + Change in Environmental Liabilities + + + + + + + (2) + + + + + + + 5 + + + + + + + Noncontrolling Interests + + + + + + + (12) + + + + + + + (12) + + + + + + + Adjusted EBITDA (non-GAAP) + + + + + $ + + + + + 605 + + + + + $ + + + + + 1,027 + + + + + + + + + + + + + + + + + + Webcast Information + + + We will discuss fourth quarter 2022 earnings in a conference call scheduled for today at 10 a.m. Eastern Time. The webcast and associated materials can be accessed at https://investors.constellationenergy.com. + + + About Constellation + + + Headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation's largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90 percent carbon-free, our hydro, wind and solar facilities paired with the nation's largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes, providing 11 percent of the nation's clean energy. We are further accelerating the nation's transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100 percent carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and Twitter. + + + Non-GAAP Financial Measures + + + In analyzing and planning for our business, we supplement our use of net income as determined under generally accepted accounting principles in the United States (GAAP), with Adjusted EBITDA (non- GAAP) as a performance measure. Adjusted EBITDA (non-GAAP) reflects an additional way of viewing our business that, when viewed with our GAAP results and the accompanying reconciliation to GAAP net income included above, may provide a more complete understanding of factors and trends affecting our business. Adjusted EBITDA (non-GAAP) should not be relied upon to the exclusion of GAAP financial measures and is, by definition, an incomplete understanding of our business, and must be considered in conjunction with GAAP measures. In addition, Adjusted EBITDA (non-GAAP) is neither a standardized + + + 4 + + + + + financial measure, nor a presentation defined under GAAP and may not be comparable to other companies' presentations or deemed more useful than the GAAP information provided elsewhere in this press release and earnings release attachments. We have provided the non-GAAP financial measure as supplemental information and in addition to the financial measures that are calculated and presented in accordance with GAAP. Adjusted EBITDA (non-GAAP) should not be deemed more useful than, a substitute for, or an alternative to the most comparable GAAP Net Income measure provided in this earnings release and attachments. This press release and earnings release attachments provide reconciliations of Adjusted EBITDA (non-GAAP) to the most directly comparable financial measures calculated and presented in accordance with GAAP and are posted on our website: www.ConstellationEnergy.com, and have been furnished to the Securities and Exchange Commission on Form 8-K on February 16, 2023. + + + Cautionary Statements Regarding Forward-Looking Information + + + This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Words such as "could," "may," "expects," "anticipates," "will," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "predicts," and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic, and financial performance, are intended to identify such forward-looking statements. + + + The factors that could cause actual results to differ materially from the forward-looking statements made by Constellation Energy Corporation and Constellation Energy Generation, LLC, (Registrants) include those factors discussed herein, as well as the items discussed in (1) the Registrants' 2022 Annual Report on Form 10-K (to be filed on February 16, 2023) in (a) Part I, ITEM 1A. Risk Factors, (b) Part II, ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, and (c) Part II, ITEM 8. Financial Statements and Supplementary Data: Note 19, Commitments and Contingencies, and + + + (2) other factors discussed in filings with the SEC by the Registrants. + + + Investors are cautioned not to place undue reliance on these forward-looking statements, whether written or oral, which apply only as of the date of this press release. Neither of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this press release. + + + 5 + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Constellation Energy Corporation published this content on 16 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 12:08:04 UTC. + + diff --git a/news/CEG/2023.02.16/Constellation Reports Fourth Quarter and Full Year 2022 Results and Initiates 2023 Fina...txt b/news/CEG/2023.02.16/Constellation Reports Fourth Quarter and Full Year 2022 Results and Initiates 2023 Fina...txt new file mode 100644 index 0000000000000000000000000000000000000000..6df86778ca4a0b9891488e5fab1f367a676344c5 --- /dev/null +++ b/news/CEG/2023.02.16/Constellation Reports Fourth Quarter and Full Year 2022 Results and Initiates 2023 Fina...txt @@ -0,0 +1,2273 @@ + +Constellation Energy Corporation (Nasdaq: CEG) today reported its financial results for the fourth quarter and full year 2022. + +“We had an incredible first year that exceeded expectations as we adapted to rapidly evolving market conditions, successfully advocated for clean energy policies and positioned the company for sustainable, long-term growth,” said Joe Dominguez, president and CEO of Constellation. “I want to emphasize that there is no commodity more valuable to our economy, national security and way of life than energy that is carbon-free, affordable and always there when you need it, and no U.S. company produces more of it than we do. The unique reliability and resiliency of our nuclear fleet was driven home yet again during Winter Storm Elliott, when our operated fleet performed at 100 percent, helping to prevent rolling blackouts on Christmas Eve as fossil generation in our nation’s largest electric grid failed. Nuclear’s value to the grid was also proven in the 2014 polar vortex and again in 2021 during Winter Storm Uri, and it’s only going to increase in the years ahead as we invest to extend the lives of our nuclear plants, increase their output and utilize their carbon-free energy to power the dirtiest parts of our economy with clean hydrogen. We set out one year ago to be the nation’s answer to the climate crisis, and today we have the assets and financial foundation to deliver on that promise.” + +“Our strong financial position allows us to return exceptional value to shareholders by doubling our dividend and authorizing a $1 billion share repurchase program, while still leaving us the flexibility to build a new, clean hydrogen business and reserve $2 billion in unallocated capital to invest in other organic and inorganic growth as opportunities arise, or return additional capital to shareholders,” said Dan Eggers, chief financial officer of Constellation. “Operationally, our nuclear fleet remains the most reliable and efficient in the industry and our commercial business delivered high value in a market buffeted by global events. For the year, we delivered $2.667 billion in adjusted EBITDA, which exceeded the top of our range, and we are introducing 2023 adjusted EBITDA guidance of $2.9 billion to $3.3 billion.” + +Fourth Quarter 2022 + +Our GAAP Net Income for the fourth quarter of 2022 was $34 million, down from $42 million GAAP Net Income in the fourth quarter of 2021. Adjusted EBITDA (non-GAAP) for the fourth quarter of 2022 decreased to $605 million from $1,027 million in the fourth quarter of 2021. For the reconciliations of GAAP Net Income to Adjusted EBITDA (non-GAAP), refer to the tables beginning on page 4. + +Adjusted EBITDA (non-GAAP) in the fourth quarter of 2022 primarily reflects: + +Full Year 2022 + +Our GAAP Net Loss for 2022 was ($160) million, compared to ($205) million GAAP Net Loss in 2021. Adjusted EBITDA (non-GAAP) for 2022 increased to $2,667 million from $2,185 million in 2021. + +Adjusted EBITDA (non-GAAP) for the full year 2022 primarily reflects: + +Initiates Annual Guidance for 2023 + +We introduced a guidance range for 2023 Adjusted EBITDA (non-GAAP) of $2,900 million to $3,300 million. The outlook for Adjusted EBITDA (non-GAAP) excludes the following items: + +Recent Developments and Fourth Quarter Highlights + +GAAP/Adjusted EBITDA (non-GAAP) Reconciliation + +Adjusted EBITDA (non-GAAP) for the fourth quarter of 2022 and 2021, respectively, does not include the following items that were included in our reported GAAP Net Income: + +(in millions) + +Three Months Ended +December 31, 2022 + +Three Months Ended +December 31, 2021 + +GAAP Net Income Attributable to Common Shareholders + +$ + +34 + +  + +$ + +42 + +  + +Income Taxes + +  + +133 + +  + +  + +117 + +  + +Depreciation and Amortization + +  + +272 + +  + +  + +268 + +  + +Interest Expense, Net + +  + +64 + +  + +  + +72 + +  + +Unrealized Loss on Fair Value Adjustments + +  + +413 + +  + +  + +771 + +  + +Asset Impairments + +  + +— + +  + +  + +4 + +  + +Plant Retirements and Divestitures + +  + +(7 + +) + +  + +11 + +  + +Decommissioning-Related Activities + +  + +(306 + +) + +  + +(275 + +) + +Pension & OPEB Non-Service Credits + +  + +(31 + +) + +  + +(14 + +) + +Separation Costs + +  + +41 + +  + +  + +24 + +  + +COVID-19 Direct Costs + +  + +— + +  + +  + +11 + +  + +ERP System Implementation Costs + +  + +6 + +  + +  + +3 + +  + +Change in Environmental Liabilities + +  + +(2 + +) + +  + +5 + +  + +Noncontrolling Interests + +  + +(12 + +) + +  + +(12 + +) + +Adjusted EBITDA (non-GAAP) + +$ + +605 + +  + +$ + +1,027 + +  + +Webcast Information + +We will discuss fourth quarter 2022 earnings in a conference call scheduled for today at 10 a.m. Eastern Time. The webcast and associated materials can be accessed at https://investors.constellationenergy.com. + +About Constellation + +Headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90 percent carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes, providing 11 percent of the nation’s clean energy. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100 percent carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and Twitter. + +Non-GAAP Financial Measures + +In analyzing and planning for our business, we supplement our use of net income as determined under generally accepted accounting principles in the United States (GAAP), with Adjusted EBITDA (non-GAAP) as a performance measure. Adjusted EBITDA (non-GAAP) reflects an additional way of viewing our business that, when viewed with our GAAP results and the accompanying reconciliation to GAAP net income included above, may provide a more complete understanding of factors and trends affecting our business. Adjusted EBITDA (non-GAAP) should not be relied upon to the exclusion of GAAP financial measures and is, by definition, an incomplete understanding of our business, and must be considered in conjunction with GAAP measures. In addition, Adjusted EBITDA (non-GAAP) is neither a standardized financial measure, nor a presentation defined under GAAP and may not be comparable to other companies’ presentations or deemed more useful than the GAAP information provided elsewhere in this press release and earnings release attachments. We have provided the non-GAAP financial measure as supplemental information and in addition to the financial measures that are calculated and presented in accordance with GAAP. Adjusted EBITDA (non-GAAP) should not be deemed more useful than, a substitute for, or an alternative to the most comparable GAAP Net Income measure provided in this earnings release and attachments. This press release and earnings release attachments provide reconciliations of Adjusted EBITDA (non-GAAP) to the most directly comparable financial measures calculated and presented in accordance with GAAP and are posted on our website: www.ConstellationEnergy.com, and have been furnished to the Securities and Exchange Commission on Form 8-K on February 16, 2023. + +Cautionary Statements Regarding Forward-Looking Information + +This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “predicts,” and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic, and financial performance, are intended to identify such forward-looking statements. + +The factors that could cause actual results to differ materially from the forward-looking statements made by Constellation Energy Corporation and Constellation Energy Generation, LLC, (Registrants) include those factors discussed herein, as well as the items discussed in (1) the Registrants' 2022 Annual Report on Form 10-K (to be filed on February 16, 2023) in (a) Part I, ITEM 1A. Risk Factors, (b) Part II, ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and (c) Part II, ITEM 8. Financial Statements and Supplementary Data: Note 19, Commitments and Contingencies, and (2) other factors discussed in filings with the SEC by the Registrants. + +Investors are cautioned not to place undue reliance on these forward-looking statements, whether written or oral, which apply only as of the date of this press release. Neither of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this press release. + +Constellation Energy Corporation + +GAAP Consolidated Statements of Operations and Adjusted EBITDA (non-GAAP) Reconciling Adjustments + +(unaudited) + +(in millions, except per share data) + +  + +Three Months Ended December 31, 2022 + +  + +Three Months Ended December 31, 2021 + +  + +GAAP (a) + +  + +Non-GAAP +Adjustments + +  + +  + +  + +GAAP (a) + +  + +Non-GAAP +Adjustments + +  + +  + +Operating revenues + +$ + +7,333 + +  + +  + +$ + +(713 + +) + +  + +(b),(c) + +  + +$ + +5,532 + +  + +  + +$ + +(326 + +) + +  + +(b),(c) + +Operating expenses + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Purchased power and fuel + +  + +5,708 + +  + +  + +  + +(1,125 + +) + +  + +(b) + +  + +  + +4,061 + +  + +  + +  + +(1,020 + +) + +  + +(b) + +Operating and maintenance + +  + +1,375 + +  + +  + +  + +(86 + +) + +  + +(c),(d),(h),(i),(k) + +  + +  + +1,141 + +  + +  + +  + +(74 + +) + +  + +(c),(d),(e),(f),(g),(h),(i),(j),(k) + +Depreciation and amortization + +  + +272 + +  + +  + +  + +(272 + +) + +  + +(l) + +  + +  + +268 + +  + +  + +  + +(268 + +) + +  + +(l) + +Taxes other than income taxes + +  + +138 + +  + +  + +  + +— + +  + +  + +  + +  + +  + +121 + +  + +  + +  + +— + +  + +  + +  + +Total operating expenses + +  + +7,493 + +  + +  + +  + +  + +  + +  + +  + +5,591 + +  + +  + +  + +  + +  + +(Loss) gain on sales of assets and businesses + +  + +(12 + +) + +  + +  + +— + +  + +  + +  + +  + +  + +57 + +  + +  + +  + +— + +  + +  + +  + +Operating loss + +  + +(172 + +) + +  + +  + +  + +  + +  + +  + +(2 + +) + +  + +  + +  + +  + +Other income and (deductions) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Interest expense, net + +  + +(64 + +) + +  + +  + +64 + +  + +  + +(m) + +  + +  + +(72 + +) + +  + +  + +72 + +  + +  + +(m) + +Other, 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+$ + +42 + +  + +  + +  + +  + +  + +Effective tax rate + +  + +78.9 + +% + +  + +  + +  + +  + +  + +  + +73.1 + +% + +  + +  + +  + +  + +Earnings per average common share + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Basic + +$ + +0.10 + +  + +  + +  + +  + +  + +  + +$ + +— + +  + +  + +  + +  + +  + +Diluted + +$ + +0.10 + +  + +  + +  + +  + +  + +  + +$ + +— + +  + +  + +  + +  + +  + +Average common shares outstanding + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Basic + +  + +328 + +  + +  + +  + +  + +  + +  + +  + +— + +  + +  + +  + +  + +  + +Diluted + +  + +329 + +  + +  + +  + +  + +  + +  + +  + +— + +  + +  + +  + +  + +  + +__________ + +(a) + +Results reported in accordance with GAAP. + +(b) + +Adjustment for mark-to-market on economic hedges and fair value adjustments related to gas imbalances and equity investments. + +(c) + +Adjustment for all gains and losses associated with NDTs, ARO accretion, ARO remeasurement, and any earnings neutral impacts of contractual offset for Regulatory Agreement Units. + +(d) + +Adjustments related to plant retirements and divestitures. + +(e) + +In 2021, adjustment primarily for reorganization and severance costs related to cost management programs. + +(f) + +In 2021, adjustment for direct costs related to COVID-19 consisting primarily of costs to acquire personal protective equipment, costs for cleaning supplies and services, and costs to hire healthcare professionals to monitor the health of employees. + +(g) + +In 2021, adjustment for costs related to the acquisition of EDF's interest in CENG, which was completed in the third quarter of 2021. + +(h) + +Adjustment for costs related to a multi-year ERP system implementation. + +(i) + +Adjustment for certain incremental costs related to the separation (system-related costs, third-party costs paid to advisors, consultants, lawyers, and other experts assisting in the separation), including a portion of the amounts billed to us pursuant to the TSA. + +(j) + +Adjustment for Pension and OPEB Non-Service credits. Historically, we were allocated our portion of pension and OPEB non-service costs from Exelon, which was included in Operating and maintenance expense. Effective February 1, 2022, the non-service credit (cost) components are included in Other, net. + +(k) + +Adjustment for certain changes in environmental liabilities. + +(l) + +Adjustment for depreciation and amortization expense. + +(m) + +Adjustment for interest expense. + +(n) + +Adjustment for income taxes. + +(o) + +Adjustment for elimination of the noncontrolling interest related to certain adjustments. + +(p) + +In 2022, includes amounts contractually owed to Exelon under the TMA. + +(q) + +Reversal of a charge related to a prior 2012 merger commitment.  + +Constellation Energy Corporation + +GAAP Consolidated Statements of Operations and Adjusted (non-GAAP) EBITDA Reconciling Adjustments + +(unaudited) + +(in millions, except per share data) + +  + +Twelve Months Ended December 31, 2022 + +  + +Twelve Months Ended December 31, 2021 + +  + +GAAP (a) + +  + +Non-GAAP +Adjustments + +  + +  + +  + +GAAP (a) + +  + +Non-GAAP +Adjustments + +  + +  + +Operating revenues + +$ + +24,440 + +  + +  + +$ + +1,184 + +  + +  + +(b),(c) + +  + +$ + +19,649 + +  + +  + +$ + +629 + +  + +  + +(b),(c) + +Operating expenses + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Purchased power and fuel + +  + +17,462 + +  + +  + +  + +138 + +  + +  + +(b) + +  + +  + +12,163 + +  + +  + +  + +1,064 + +  + +  + +(b),(d) + +Operating and maintenance + +  + +4,841 + +  + +  + +  + +(28 + +) + +  + +(c),(d),(h),(i),(j),(k) (r) + +  + +  + +4,555 + +  + +  + +  + +(184 + +) + +  + +(c),(d),(e),(f),(g),(h),(i),(j),(k),(p) + +Depreciation and amortization + +  + +1,091 + +  + +  + +  + +(1,091 + +) + +  + +(l) + +  + +  + +3,003 + +  + +  + +  + +(3,003 + +) + +  + +(l) + +Taxes other than income taxes + +  + +552 + +  + +  + +  + +(2 + +) + +  + +(i) + +  + +  + +475 + +  + +  + +  + +— + +  + +  + +  + +Total operating expenses + +  + +23,946 + +  + +  + +  + +  + +  + +  + +  + +20,196 + +  + +  + +  + +  + +  + +Gain on sales of assets and businesses + +  + +1 + +  + +  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+ +  + +— + +  + +  + +  + +  + +  + +(10 + +) + +  + +  + +— + +  + +  + +  + +Net loss + +  + +(167 + +) + +  + +  + +  + +  + +  + +  + +(83 + +) + +  + +  + +  + +  + +Net (loss) income attributable to noncontrolling interests + +  + +(7 + +) + +  + +  + +49 + +  + +  + +(o) + +  + +  + +122 + +  + +  + +  + +53 + +  + +  + +(o) + +Net loss attributable to common shareholders + +$ + +(160 + +) + +  + +  + +  + +  + +  + +$ + +(205 + +) + +  + +  + +  + +  + +Effective tax rate + +  + +71.6 + +% + +  + +  + +  + +  + +  + +  + +148.0 + +% + +  + +  + +  + +  + +Earnings per average common share + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Basic + +$ + +(0.49 + +) + +  + +  + +  + +  + +  + +$ + +— + +  + +  + +  + +  + +  + +Diluted + +$ + +(0.49 + +) + +  + +  + +  + +  + +  + +$ + +— + +  + +  + +  + +  + +  + +Average common shares outstanding + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Basic + +  + +328 + +  + +  + +  + +  + +  + +  + +  + +— + +  + +  + +  + +  + +  + +Diluted + +  + +329 + +  + +  + +  + +  + +  + +  + +  + +— + +  + +  + +  + +  + +  + +__________ + +(a) + +Results reported in accordance with GAAP. + +(b) + +Adjustment for mark-to-market on economic hedges and fair value adjustments related to gas imbalances and equity investments. + +(c) + +Adjustment for all gains and losses associated with NDTs, ARO accretion, ARO remeasurement, and any earnings neutral impacts of contractual offset for Regulatory Agreement Units. + +(d) + +Adjustments related to plant retirements and divestitures. + +(e) + +In 2021, adjustment primarily for reorganization and severance costs related to cost management programs. + +(f) + +In 2021, adjustment for direct costs related to COVID-19 consisting primarily of costs to acquire personal protective equipment, costs for cleaning supplies and services, and costs to hire healthcare professionals to monitor the health of employees. + +(g) + +In 2021, adjustment for costs related to the acquisition of EDF's interest in CENG, which was completed in the third quarter of 2021. + +(h) + +Adjustment for costs related to a multi-year ERP system implementation. + +(i) + +Adjustment for certain incremental costs related to the separation (system-related costs, third-party costs paid to advisors, consultants, lawyers, and other experts assisting in the separation), including a portion of the amounts billed to us pursuant to the TSA. + +(j) + +Adjustment for Pension and OPEB Non-Service credits. Historically, we were allocated our portion of pension and OPEB non-service costs from Exelon, which was included in Operating and maintenance expense. Effective February 1, 2022, the non-service credit (cost) components are included in Other, net. + +(k) + +Adjustment for certain changes in environmental liabilities. + +(l) + +Adjustment for depreciation and amortization expense. + +(m) + +Adjustment for interest expense. + +(n) + +Adjustment for income taxes. + +(o) + +Adjustment for elimination of the noncontrolling interest related to certain adjustments. In 2022, primarily relates to CRP and in 2021, primarily relates to CENG and the noncontrolling interest portion of a wind project impairment recognized within CRP. + +(p) + +Reflects an impairment in the New England asset group, an impairment as a result of the sale of the Albany Green Energy biomass facility, and an impairment of a wind project + +(q) + +In 2022, includes amounts contractually owed to Exelon under the tax matters agreement. + +(r) + +Reversal of a charge related to a prior 2012 merger commitment. + +  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005935/en/ \ No newline at end of file diff --git a/news/CEG/2023.02.16/Marketmind: Growth trumps rates.txt b/news/CEG/2023.02.16/Marketmind: Growth trumps rates.txt new file mode 100644 index 0000000000000000000000000000000000000000..de02958574d16e10a4404e6cc56904ab5aede0b3 --- /dev/null +++ b/news/CEG/2023.02.16/Marketmind: Growth trumps rates.txt @@ -0,0 +1 @@ +If U.S. consumers are the significant engine of global growth, then their roaring start to this year is zapping recession fears and investors appear happy for now that will trump any related rethink on higher borrowing costs.Jumping 3% at almost twice the pace expected, retail sales increased by the most in nearly two years in January as households seemingly shrugged off rising prices and soaring borrowing costs. While there were some questions about seasonal adjustments in the data, economists were impressed that sales growth was pretty broad based and have scrambled to re-crunch first quarter U.S. output forecasts as a result.JPMorgan doubled its first-quarter GDP growth forecast to a 2% annualized rate - only a modest slowdown from the 2.9% rate in the last three months of 2022 - and Goldman Sachs lifted its tracking estimate by 0.6 percentage point to 1.4%. And it's not just consumption. Production at U.S. factories rebounded 1.0% in January too, while surveys showed business conditions in New York state improving sharply in February.There may be a more mixed picture from Thursday's data slate on producer prices, housing starts and weekly jobless claims.But one the most remarkable aspect of this week's economic readouts is that the related hawkishness from the Federal Reserve on inflation and interest rates has not bowled over the stock market - in stark contrast to how equities greeted rising rate projections last year.Can a stronger economy now take higher rates more comfortably? Even though rates futures and Treasury yields ticked back a bit today, pricing now has Fed policy rates moving as high as 5.25% and staying above 5% all year. And while full-year earnings growth estimates for S&P500 companies have sunk to zero, consensus forecasts are now pencilling in a rebound of almost 12% next year. For all the turbulence in borrowing markets, the VIX index of implied volatility remains subdued below long-term averages. U.S. stock futures are flat going into Thursday's open and European and Asia stocks were up smartly. The dollar edged back a bit but remains almost 3% up on the low of early February. That relative serenity comes even with the U.S. debt ceiling row brewing in the background.The Congressional Budget Office on Wednesday said the U.S. Treasury Department will exhaust its ability to pay all its bills sometime between July and September, unless the current $31.4 trillion cap on borrowing is raised or suspended. Uncertainty about the pace of growth and annual tax receipts in April makes it difficult for government officials to predict the exact "X-date", it said.Overseas, the gloom surrounding Britain's economy was not reflected in the record run in its leading blue-chip stock index.The UK's export, banking and commodity-heavy FTSE 100 rose to another record high above 8,000 points, underpinned by corporate earnings from Centrica and Standard Chartered. Shares of Centrica jumped to top the FTSE 100, adding 4.2%, after the British gas owner's annual profit more than tripled and as it announced an extension of its share buyback programme.Standard Chartered also jumped as it raised its performance goals, unveiled a new $1 billion share buyback and produced a 28% rise in annual profit as global interest rates rise. StanChart said almost half its 10% income growth came from interest.For inflation-watchers, the world's biggest food group Nestle said it will push through further price increases this year after more expensive ingredients contributed to lower 2022 profits. "Our gross margin is down about 260 basis points - that is massive," said Chief Executive Mark Schneider.Planemaker Airbus gained 2.9% as the company targeted 2023 jet deliveries in line with its original estimate for last year.And in the tense geopolitics between Washington and Beijing, China's commerce ministry on Thursday said it put Lockheed Martin and Raytheon Technologies onto an "unreliable entities list" over arms sales to Taiwan.Key developments that may provide direction to U.S. markets later on Thursday:* U.S. Jan producer prices, housing starts and permits; weekly jobless claims; Philadelphia Fed's Feb business survey, New York Fed's Feb service sector survey; NY Fed's Q4 2022 Household Debt and Credit Report * U.S. Fed Board Governor Lisa Cook, St. Louis Fed President James Bullard, Cleveland Fed chief Loretta Mester all speak; Bank of Canada governor Tiff Macklem speaks; European Central Bank Vice President Luis de Guindos, ECB chief economist Philip Lane, ECB board member Fabio Panetta, Bundesbank chief Joachim Nagel, Irish central bank chief Gabriel Makhlouf all speak; Bank of England chief economist Huw Pill speaks. * U.S. corp earnings: Applied Materials, DoorDash, Paramount, Hasbro, Consolidated Edison, Digital Realty Trust, Bio Rad Labs, West Pharmaceutical, Constellation Energy, Vulcan Materials, Southern, Entergy, Zebra, Henry Schein, Organon, Epam, Pool etc (By Mike Dolan, editing by Jane Merriman mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/CEG/2023.02.21/Constellation Energy : Making Major Investment in Two Illinois Nuclear Plants to Increase ...txt b/news/CEG/2023.02.21/Constellation Energy : Making Major Investment in Two Illinois Nuclear Plants to Increase ...txt new file mode 100644 index 0000000000000000000000000000000000000000..681d978140b365b064a9b5c3f30353b047f9207f --- /dev/null +++ b/news/CEG/2023.02.21/Constellation Energy : Making Major Investment in Two Illinois Nuclear Plants to Increase ...txt @@ -0,0 +1,64 @@ + + + +Constellation Making Major Investment in Two Illinois Nuclear Plants to Increase Clean Energy Output + + +Projects at Braidwood, Byron nuclear plants will result in additional carbon-free electricity with capacity to power the equivalent of 100,000 homes 24/7/365 + + + + + BALTIMORE (Feb. 21, 2023) - Constellation (Nasdaq: CEG), the largest producer of carbon-free energy in the U.S., said today it will invest $800 million in new equipment to increase the output of its Braidwood and Byron Generating Stations in Illinois by approximately 135 megawatts, enough to power the equivalent of 100,000 average homes around the clock every year. The additional always-on, carbon-free power generated will result in the equivalent of removing 171,000 gas-powered vehicles from the road per year, or the equivalent of adding 216 intermittent wind turbines to the grid, using Environmental Protection Agency data. + + + The project is expected to create work for thousands of skilled union workers during construction while expanding economic activity for surrounding businesses in the plant communities. The additional jobs come on top of the 1,200 permanent workers at the two plants. + + + "These investments in our world class nuclear fleet will allow us to generate more zero-carbon energy with the same amount of fuel and land, and that's a win for the economy, the environment and Illinois families and businesses who rely on our clean energy," said Joe Dominguez, president and CEO of Constellation. "These projects will help create family-sustaining jobs and are a direct result of state and federal policies that recognize the incredible value of nuclear energy in addressing the climate crisis while keeping our grid secure and reliable." + + + Braidwood and Byron were among the Illinois nuclear plants saved from premature retirement by passage of the state Climate and Equitable Jobs Act in 2021. Since then, Congress passed the Inflation Reduction Act (IRA) last year, which provides a base level of support for nuclear energy nationwide. Both pieces of legislation have enabled renewed investment in nuclear energy. + + + Support for nuclear in the IRA has made extending the lives of U.S. nuclear assets to 80 years more likely assuming continued support. It has caused Constellation to examine nuclear uprate opportunities that were cancelled a decade ago due to market forces. The 45Y tax credit for the production of new carbon-free electricity helps make these investments economic. + + + The Braidwood and Byron projects involve replacing the main turbines at the two facilities with state-of-the-art, high efficiency units that are expected to add approximately 135 carbon-free megawatts of output at the nuclear plants. Constellation expects to see increased output at the stations as early as 2026, with the full uprated output available by 2029. Work on the uprates will occur in stages during scheduled refueling outages. + + + The Illinois uprates come on the heels of Constellation's announcement of significant progress at its clean hydrogen project at Nine Mile Point Generating Station in upstate New York, and the start of work on operating license renewals at the Clinton and Dresden nuclear plants in Illinois. + + + "It is gratifying to see new long-term projects at our nuclear facilities getting the green light. This is an exciting time for our industry as we continue our investment in the future of our plants," said Dave Rhoades, chief nuclear officer, Constellation. "Our workers stand at the ready to welcome new employees for these projects as we continue building upon creative new efforts that provide additional clean energy to the communities we serve across the nation." + + + + +About Constellation + + + Headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation's largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90 percent carbon-free, our hydro, wind and solar facilities paired with the nation's largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes, providing 10 percent of the nation's clean energy. We are further accelerating the nation's transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100 percent carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and Twitter. + + + +Download + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Constellation Energy Corporation published this content on 21 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 February 2023 14:09:09 UTC. + + diff --git a/news/CEG/2023.02.21/Constellation Making Major Investment in Two Illinois Nuclear Plants to Increase Clean ...txt b/news/CEG/2023.02.21/Constellation Making Major Investment in Two Illinois Nuclear Plants to Increase Clean ...txt new file mode 100644 index 0000000000000000000000000000000000000000..ad0c907afe54352064ba3a47c544bd7b7d307d4a --- /dev/null +++ b/news/CEG/2023.02.21/Constellation Making Major Investment in Two Illinois Nuclear Plants to Increase Clean ...txt @@ -0,0 +1,21 @@ + +Constellation (Nasdaq: CEG), the largest producer of carbon-free energy in the U.S., said today it will invest $800 million in new equipment to increase the output of its Braidwood and Byron Generating Stations in Illinois by approximately 135 megawatts, enough to power the equivalent of 100,000 average homes around the clock every year. The additional always-on, carbon-free power generated will result in the equivalent of removing 171,000 gas-powered vehicles from the road per year, or the equivalent of adding 216 intermittent wind turbines to the grid, using Environmental Protection Agency data. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230221005582/en/Constellation will invest $800 million in new equipment to increase the output of its Braidwood and Byron Generating Stations in Illinois by approximately 135 megawatts, enough to power the equivalent of 100,000 average homes around the clock every year (Photo: Business Wire) +The project is expected to create work for thousands of skilled union workers during construction while expanding economic activity for surrounding businesses in the plant communities. The additional jobs come on top of the 1,200 permanent workers at the two plants. + +“These investments in our world class nuclear fleet will allow us to generate more zero-carbon energy with the same amount of fuel and land, and that’s a win for the economy, the environment and Illinois families and businesses who rely on our clean energy,” said Joe Dominguez, president and CEO of Constellation. “These projects will help create family-sustaining jobs and are a direct result of state and federal policies that recognize the incredible value of nuclear energy in addressing the climate crisis while keeping our grid secure and reliable.” + +Braidwood and Byron were among the Illinois nuclear plants saved from premature retirement by passage of the state Climate and Equitable Jobs Act in 2021. Since then, Congress passed the Inflation Reduction Act (IRA) last year, which provides a base level of support for nuclear energy nationwide. Both pieces of legislation have enabled renewed investment in nuclear energy. + +Support for nuclear in the IRA has made extending the lives of U.S. nuclear assets to 80 years more likely assuming continued support. It has caused Constellation to examine nuclear uprate opportunities that were cancelled a decade ago due to market forces. The 45Y tax credit for the production of new carbon-free electricity helps make these investments economic. + +The Braidwood and Byron projects involve replacing the main turbines at the two facilities with state-of-the-art, high efficiency units that are expected to add approximately 135 carbon-free megawatts of output at the nuclear plants. Constellation expects to see increased output at the stations as early as 2026, with the full uprated output available by 2029. Work on the uprates will occur in stages during scheduled refueling outages. + +The Illinois uprates come on the heels of Constellation’s announcement of significant progress at its clean hydrogen project at Nine Mile Point Generating Station in upstate New York, and the start of work on operating license renewals at the Clinton and Dresden nuclear plants in Illinois. + +“It is gratifying to see new long-term projects at our nuclear facilities getting the green light. This is an exciting time for our industry as we continue our investment in the future of our plants,” said Dave Rhoades, chief nuclear officer, Constellation. “Our workers stand at the ready to welcome new employees for these projects as we continue building upon creative new efforts that provide additional clean energy to the communities we serve across the nation.” + +About Constellation + +Headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90 percent carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes, providing 10 percent of the nation’s clean energy. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100 percent carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and Twitter. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005582/en/ \ No newline at end of file diff --git a/news/CEG/2023.02.23/Constellation's Nuclear Fleet Outperformed as Fossil Plants in Nation's Largest Grid Fa...txt b/news/CEG/2023.02.23/Constellation's Nuclear Fleet Outperformed as Fossil Plants in Nation's Largest Grid Fa...txt new file mode 100644 index 0000000000000000000000000000000000000000..e1481ce007bf32b9747f4f6fee02a42abcfc3f66 --- /dev/null +++ b/news/CEG/2023.02.23/Constellation's Nuclear Fleet Outperformed as Fossil Plants in Nation's Largest Grid Fa...txt @@ -0,0 +1,19 @@ + +Nuclear plants operated by Constellation (Nasdaq: CEG) performed at 100 percent capacity and proved instrumental in preventing rolling blackouts for millions of homes and businesses during a powerful winter storm that knocked nearly a quarter of the power generation in the nation’s largest energy grid offline on Christmas Eve. PJM, the grid operator for 13 states and the District of Columbia, said generators that failed to perform during Winter Storm Elliott face penalties totaling as much as $2 billion, a record amount that raises questions about whether generators are taking sufficient steps to make their resources reliable in a changing climate. PJM began notifying generators of their potential penalties this past week. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230223005697/en/Nuclear plants operated by Constellation performed at 100 percent capacity and proved instrumental in preventing rolling blackouts for millions of homes and businesses during a powerful winter storm that knocked nearly a quarter of the power generation in the nation’s largest energy grid offline on Christmas Eve. (Photo: Business Wire) +The grid operator reported that 90 percent of the outages were among fossil power plants, which experienced equipment failures and fuel shortages during Winter Storm Elliott. PJM issued conservation alerts and exhausted its available emergency procedures, coming perilously close to resorting to rolling brownouts and blackouts to keep the grid up. + +The storm was the first major test of the capacity performance policies implemented by PJM starting in 2016 in response to the Polar Vortex, which similarly caused 22 percent of PJM’s generation to go offline in 2014. Since that time, PJM customers have paid generators approximately $58 billion in capacity performance payments intended to spur generators to invest in reliability measures to prevent outages during extreme weather events. Despite those payments, the grid experienced an even greater level of outages during Elliott. The policy includes stiff penalties for generators that fail to perform when needed and bonuses for those that overperform, as Constellation’s fleet has throughout this winter season. + +“While we’re proud of our performance this winter, these unacceptable grid-wide failures are clear evidence that PJM still has work to do to keep the grid clean and reliable as climate risks increase,” said Joe Dominguez, president and CEO of Constellation. “Electricity markets severely undervalue the unmatched reliability and carbon-free benefits of nuclear energy, and in recent years that shortcoming nearly led to the premature retirement of more than a dozen reactors in the PJM region. If state lawmakers had not stepped in to preserve those plants, millions of families could have been forced to celebrate the holidays in a deep freeze without electricity and heat.” + +Constellation operates eight nuclear plants with 16 reactors in the PJM region, generating carbon-free power for the equivalent of more than 11.6 million average homes. All 16 reactors ran at 100 percent power as temperatures fell during Winter Storm Elliott. These plants also were among the most reliable energy resources on the grid throughout 2022. + +Combined, the Constellation plants that were preserved in the PJM region produce nearly 16,000 megawatts of energy. By comparison, PJM came within about 5,000 megawatts of experiencing rolling blackouts on Christmas Eve in a grid with a load of 160,000 megawatts, leaving a margin of just 3 percent. + +“Bipartisan state policies, as well as the recently passed federal Inflation Reduction Act, exist because lawmakers recognized the importance of nuclear energy to protecting our nation’s energy security and addressing the climate crisis at the lowest cost to consumers,” Dominguez said. “While PJM’s capacity performance policy was a good start, it shouldn’t still fall to state and federal environmental laws to make up for electricity markets that don’t deliver reliable results for customers. We need to keep that in sight as we consider solutions to prevent another crisis like we just experienced over the holidays.” + +About Constellation + +Headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90 percent carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100 percent carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and Twitter. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005697/en/ \ No newline at end of file diff --git a/news/CHTR/2023.01.04/Charter to Hold Webcast to Discuss Fourth Quarter and Full Year 2022 Financial and Oper...txt b/news/CHTR/2023.01.04/Charter to Hold Webcast to Discuss Fourth Quarter and Full Year 2022 Financial and Oper...txt new file mode 100644 index 0000000000000000000000000000000000000000..9bba92573b3959001df3b4b7ca3ad02b0ad90736 --- /dev/null +++ b/news/CHTR/2023.01.04/Charter to Hold Webcast to Discuss Fourth Quarter and Full Year 2022 Financial and Oper...txt @@ -0,0 +1,19 @@ + + +STAMFORD, Conn., Jan. 4, 2023 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (the "Company" or "Charter") will host a webcast on Friday, January 27, 2023 at 8:30 a.m. Eastern Time (ET) to discuss financial and operating results for the quarter and year ended December 31, 2022. A press release reporting such results will be issued at 7:00 a.m. ET that day. + + + + + + + +The webcast can be accessed live via the Company's investor relations website at ir.charter.com. The webcast will be archived at ir.charter.com approximately two hours after completion of the webcast. +About Charter Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator serving more than 32 million customers in 41 states through its Spectrum brand. Over an advanced communications network, the Company offers a full range of state-of-the-art residential and business services including Spectrum Internet®, TV, Mobile and Voice. +For small and medium-sized companies, Spectrum Business® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise provides highly customized, fiber-based solutions. Spectrum Reach® delivers tailored advertising and production for the modern media landscape. The Company also distributes award-winning news coverage and sports programming to its customers through Spectrum Networks. More information about Charter can be found at corporate.charter.com. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/charter-to-hold-webcast-to-discuss-fourth-quarter-and-full-year-2022-financial-and-operating-results-301713730.html +SOURCE Charter Communications, Inc. + + diff --git a/news/CHTR/2023.01.27/Charter : Q4 Earnings Snapshot.txt b/news/CHTR/2023.01.27/Charter : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..1e6d4e24b2618d2a3a4a1621dca409d4dc30556e --- /dev/null +++ b/news/CHTR/2023.01.27/Charter : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +STAMFORD, Conn. (AP) _ Charter Communications Inc. (CHTR) on Friday reported fourth-quarter net income of $1.2 billion.On a per-share basis, the Stamford, Connecticut-based company said it had profit of $7.69.The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $8.03 per share.The cable provider posted revenue of $13.67 billion in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $13.7 billion.For the year, the company reported profit of $5.06 billion, or $30.74 per share. Revenue was reported as $54.02 billion.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHTR at https://www.zacks.com/ap/CHTRCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/CHTR/2023.01.27/Charter Announces Fourth Quarter and Full Year 2022 Results.txt b/news/CHTR/2023.01.27/Charter Announces Fourth Quarter and Full Year 2022 Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..4ec0908ee75120679ed2a339ab9d73887d9f9f44 --- /dev/null +++ b/news/CHTR/2023.01.27/Charter Announces Fourth Quarter and Full Year 2022 Results.txt @@ -0,0 +1,1270 @@ + + +STAMFORD, Conn., Jan. 27, 2023 /PRNewswire/ -- Charter Communications, Inc. (along with its subsidiaries, the "Company" or "Charter") today reported financial and operating results for the three and twelve months ended December 31, 2022. + + + + + + + +Fourth quarter total residential and small and medium business ("SMB") Internet customers increased by 105,000. As of December 31, 2022, Charter served a total of 30.4 million residential and SMB Internet customers, with 344,000 total Internet customers added in 2022.Fourth quarter total residential and SMB mobile lines increased by 615,000. As of December 31, 2022, Charter served a total of 5.3 million mobile lines, with 1.7 million mobile lines added in 2022.As of December 31, 2022, Charter had a total of 32.2 million residential and SMB customer relationships, which excludes mobile-only relationships.Fourth quarter revenue of $13.7 billion grew by 3.5% year-over-year, driven by mobile revenue growth of 38.7%, advertising sales revenue growth of 24.6% and commercial revenue growth of 3.3%.Net income attributable to Charter shareholders totaled $1.2 billion in the fourth quarter. For the year ended December 31, 2022, net income attributable to Charter shareholders totaled $5.1 billion.Fourth quarter Adjusted EBITDA1 of $5.5 billion grew by 1.9% year-over-year.For the year ended December 31, 2022, revenue of $54.0 billion grew by 4.5% year-over-year. Full year 2022 Adjusted EBITDA totaled $21.6 billion, 4.8% higher than in 2021.For the year ended December 31, 2022, capital expenditures totaled $9.4 billion and included $3.0 billion of line extensions, reflecting Charter's commitment to its rural construction initiative.Full year 2022 net cash flows from operating activities totaled $14.9 billion, compared to $16.2 billion in the prior year. The year-over-year decline was primarily due to higher cash taxes.Full year 2022 free cash flow1 of $6.1 billion decreased from $8.7 billion in the prior year, due to capital expenditures associated with Charter's rural construction initiative and higher cash taxes.During the fourth quarter, Charter purchased 3.6 million shares of Charter Class A common stock and Charter Communications Holdings, LLC ("Charter Holdings") common units for approximately $1.3 billion. For the year ended December 31, 2022, Charter purchased 23.8 million shares of Charter Class A common stock and Charter Holdings common units for approximately $11.7 billion."We continued to execute well in 2022, growing customer relationships, revenue and EBITDA," said Chris Winfrey, President and CEO of Charter. "In 2023 and the coming years, we remain focused on three core initiatives — network evolution, footprint expansion and operational execution. Each of these initiatives will deliver benefits for a growing base of customers, our employees and local communities, with long-term value creation for our shareholders."  +1. +Adjusted EBITDA and free cash flow are non-GAAP measures defined in the "Use of Adjusted EBITDA and Free Cash Flow Information" section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release. +  +Key Operating Results +Approximate as of +December 31, 2022 (a) +December 31, 2021 (a) +Y/Y Change +Footprint (b) +Estimated Passings +55,573 +54,521 +1.9 % +Customer Relationships (c) +Residential +29,988 +29,926 +0.2 % +SMB +2,207 +2,143 +3.0 % +Total Customer Relationships +32,195 +32,069 +0.4 % +Residential +42 +103 +(61) +SMB +12 +17 +(5) +Total Customer Relationships Quarterly Net Additions +54 +120 +(66) +Total Customer Relationship Penetration of Estimated Passings (d) +57.9 % +58.8 % +(0.9) ppts +Monthly Residential Revenue per Residential Customer (e) +$               114.20 +$               114.14 +0.1 % +Monthly SMB Revenue per SMB Customer (f) +$               163.44 +$               164.59 +(0.7) % +Residential Customer Relationships Penetration +Single Play Penetration (g) +49.1 % +46.7 % +2.4 ppts +Double Play Penetration (g) +33.1 % +33.0 % +0.1 ppts +Triple Play Penetration (g) +17.8 % +20.4 % +(2.6) ppts +% Residential Non-Video Customer Relationships +51.7 % +49.2 % +2.5 ppts +Internet +Residential +28,412 +28,137 +1.0 % +SMB +2,021 +1,952 +3.5 % +Total Internet Customers +30,433 +30,089 +1.1 % +Residential +92 +172 +(80) +SMB +13 +18 +(5) +Total Internet Quarterly Net Additions +105 +190 +(85) +Video +Residential +14,497 +15,216 +(4.7) % +SMB +650 +617 +5.3 % +Total Video Customers +15,147 +15,833 +(4.3) % +Residential +(145) +(71) +(74) +SMB +1 +13 +(12) +Total Video Quarterly Net Additions +(144) +(58) +(86) +Voice +Residential +7,697 +8,621 +(10.7) % +SMB +1,286 +1,282 +0.3 % +Total Voice Customers +8,983 +9,903 +(9.3) % +Residential +(232) +(163) +(69) +SMB +(1) +9 +(10) +Total Voice Quarterly Net Additions +(233) +(154) +(79) +Mobile Lines (h) +Residential +5,116 +3,448 +48.4 % +SMB +176 +116 +51.5 % +Total Mobile Lines +5,292 +3,564 +48.5 % +Residential +600 +363 +237 +SMB +15 +17 +(2) +Total Mobile Lines Quarterly Net Additions +615 +380 +235 +Enterprise (i) +Enterprise Primary Service Units ("PSUs") +284 +272 +4.4 % +Enterprise Quarterly Net Additions +2 +3 +(1) +Footnotes - In thousands, except per customer and penetration data. See footnotes to unaudited summary of operating statistics on page 6 of the addendum of this news release. The footnotes contain important disclosures regarding the definitions used for these operating statistics.  All percentages are calculated using whole numbers. Minor differences may exist due to rounding. +As of December 31, 2022, Charter had 30.0 million residential customer relationships. +Fourth quarter residential Internet customers increased by 92,000, compared to an increase of 172,000 customers during the fourth quarter of 2021. Spectrum Internet® delivers the fastest speeds in Charter's footprint.1 Charter offers Spectrum Internet products with speeds up to 1 Gbps across its entire footprint. Charter's Advanced WiFi, a managed WiFi service that provides customers an optimized home network while providing greater control of their connected devices with enhanced security and privacy, is available to nearly all Spectrum Internet customers. In October 2022, Charter introduced Spectrum One, which brings together Spectrum Internet, Advanced WiFi and Unlimited Spectrum MobileTM, to offer consumers faster, more reliable and secure online connections on their favorite devices at home and on the go in a high-value package. +Residential video customers decreased by 145,000 in the fourth quarter of 2022, compared to a decline of 71,000 in the fourth quarter of 2021. As of December 31, 2022, Charter had 14.5 million residential video customers. +During the fourth quarter of 2022, residential wireline voice customers declined by 232,000, compared to a decline of 163,000 in the fourth quarter of 2021. As of December 31, 2022, Charter had 7.7 million residential wireline voice customers. +Fourth quarter 2022 residential revenue per residential customer (excluding mobile) totaled $114.20, and increased by 0.1% compared to the prior year period, given promotional rate step-ups and rate adjustments, partly offset by a higher mix of non-video customer relationships and a higher mix of lower priced video packages within Charter's video customer base. +SMB customer relationships grew by 12,000 in the fourth quarter of 2022, while fourth quarter 2021 SMB customer relationships grew by 17,000. Enterprise PSUs grew by 2,000 in the fourth quarter of 2022 versus 3,000 added in the fourth quarter of 2021. +During the fourth quarter of 2022, Charter added 615,000 mobile lines, compared to growth of 380,000 during the fourth quarter of 2021. Spectrum Mobile is available to all new and existing Spectrum Internet customers. Spectrum Mobile customers can choose "Unlimited" or "By the Gig" data plans. Spectrum Mobile offers the fastest overall speeds,2 with plans that include 5G access and taxes and fees and do not require contracts. Spectrum One and Spectrum Mobile are central to Charter's converged network strategy to provide consumers a differentiated connectivity experience with highly competitive, simple data plans and pricing. +1. Based on Ookla's Speedtest Global Index median fixed download speeds for Q4 2022, which indicates that Spectrum Internet continues to deliver faster speeds than its competitors. +2. Fastest Overall Speed claim based on Global Wireless Solutions' combined cellular and WiFi speed test results in Spectrum service area where WiFi is available. Cellular speeds vary by location. +Fourth Quarter Financial Results +(in millions) +Three Months Ended December 31, +2022 +2021 +% Change +Revenues: +Internet +$      5,637 +$      5,424 +3.9 % +Video +4,251 +4,406 +(3.5) % +Voice +379 +396 +(4.3) % +Residential revenue +10,267 +10,226 +0.4 % +Small and medium business +1,080 +1,054 +2.4 % +Enterprise +674 +643 +4.9 % +Commercial revenue +1,754 +1,697 +3.3 % +Advertising sales +558 +448 +24.6 % +Mobile +876 +632 +38.7 % +Other +219 +209 +4.9 % +Total Revenues +$    13,674 +$    13,212 +3.5 % +Net income attributable to Charter shareholders +$      1,196 +$      1,610 +(25.7) % +Net income attributable to Charter shareholders margin +8.7 % +12.2 % +Adjusted EBITDA1 +$      5,482 +$      5,379 +1.9 % +Adjusted EBITDA margin +40.1 % +40.7 % +Capital Expenditures +$      2,920 +$      2,072 +40.9 % +% Total Revenues +21.4 % +15.7 % +Net cash flows from operating activities +$      3,787 +$      4,226 +(10.4) % +Free cash flow1 +$      1,136 +$      2,285 +(50.3) % +1. +See page 1 of the addendum for a GAAP reconciliation of Adjusted EBITDA and free cash flow. +Revenues +Fourth quarter revenue increased by 3.5% year-over-year to $13.7 billion, driven primarily by growth in mobile, advertising sales and commercial revenues. +Residential revenue totaled $10.3 billion in the fourth quarter, an increase of 0.4% year-over-year. +Internet revenue grew by 3.9% year-over-year to $5.6 billion, driven by growth in Internet customers during the last year, promotional rate step-ups, reduced bundled discounts and rate adjustments, partly offset by lower bundled revenue allocation. +Video revenue totaled $4.3 billion in the fourth quarter, a decrease of 3.5% compared to the prior year period, driven by a higher mix of lower priced video packages within Charter's video customer base and a decline in video customers during the last year, partly offset by promotional rate step-ups and video rate adjustments that pass through programmer rate increases. +Voice revenue totaled $379 million in the fourth quarter, a decrease of 4.3% compared to the fourth quarter of 2021, driven by a decline in wireline voice customers over the last twelve months, partly offset by voice rate adjustments. +Commercial revenue increased by 3.3% year-over-year to $1.8 billion, driven by SMB and enterprise revenue growth of 2.4% and 4.9% year-over-year, respectively. Fourth quarter 2022 SMB revenue growth was driven by customer relationship growth. Enterprise revenue excluding wholesale increased by 9.1% year-over-year, mostly reflecting PSU growth. +Fourth quarter advertising sales revenue of $558 million increased by 24.6% compared to the year-ago quarter, primarily driven by higher political revenue. Excluding political revenue in both periods, advertising sales revenue decreased by 3.4% year-over-year, due to lower local and national advertising revenue, partly offset by higher advanced advertising revenue. +Fourth quarter mobile revenue totaled $876 million, an increase of 38.7% year-over-year, driven by mobile line growth. +Operating Costs and Expenses +Fourth quarter programming costs decreased by $95 million, or 3.3% as compared to the fourth quarter of 2021, reflecting fewer video customers and a higher mix of lower cost packages within Charter's video customer base, partly offset by contractual programming rate increases and renewals. +Regulatory, connectivity and produced content expenses decreased by $31 million, or 5.3% year-over-year, primarily driven by lower regulatory and franchise fees and lower video CPE sold to customers. +Costs to service customers increased by $108 million, or 5.8% year-over-year. The year-over-year increase in costs to service customers was primarily driven by adjustments to job structure, pay and benefits to build a more skilled and longer tenured workforce, higher fuel and freight costs and higher bad debt, partly offset by productivity improvements. Costs to service customers excluding bad debt increased by 4.9% year-over-year. +Marketing expenses increased by $55 million, or 6.9% year-over-year, due to higher staffing levels and wages as Charter focuses on providing better service to new and existing customers. +Fourth quarter mobile costs totaled $982 million, an increase of 35.7% year-over-year, and were comprised of device costs, customer acquisition costs and service and operating costs. +Other expenses increased by $64 million, or 6.6% as compared to the fourth quarter of 2021, primarily due to higher labor costs and higher advertising sales expense related to higher political revenue. +Net Income Attributable to Charter Shareholders +Net income attributable to Charter shareholders totaled $1.2 billion in the fourth quarter of 2022, compared to $1.6 billion in the fourth quarter of 2021. The year-over-year decrease in net income attributable to Charter shareholders was primarily driven by higher income tax expense, higher interest expense, net and the change in other income (expense), net, partly offset by higher Adjusted EBITDA.  +Net income per basic common share attributable to Charter shareholders totaled $7.79 in the fourth quarter of 2022 compared to $9.17 during the same period last year. The decrease was primarily the result of the factors described above, partly offset by the benefit of a 12.6% decrease in basic weighted average common shares outstanding versus the prior year period. +Adjusted EBITDA +Fourth quarter Adjusted EBITDA of $5.5 billion grew by 1.9% year-over-year, reflecting growth in revenue and operating expenses of 3.5% and 4.6%, respectively. +Capital Expenditures +Capital expenditures totaled $2.9 billion in the fourth quarter of 2022, compared to $2.1 billion during the fourth quarter of 2021. The increase was primarily driven by higher spend on line extensions, which totaled $928 million in the fourth quarter of 2022, compared to $451 million in the prior year quarter, driven by Charter's rural construction initiative. Fourth quarter capital expenditures excluding line extensions totaled $2.0 billion, compared to $1.6 billion in the fourth quarter of 2021, driven by investment in network evolution, higher customer premise equipment spend on Advanced WiFi equipment and timing of spend. +Cash Flow and Free Cash Flow +During the fourth quarter of 2022, net cash flows from operating activities totaled $3.8 billion, compared to $4.2 billion in the prior year quarter. The year-over-year decrease in net cash flows from operating activities was primarily due to higher cash taxes. +Free cash flow in the fourth quarter of 2022 totaled $1.1 billion, compared to $2.3 billion during the same period last year. The year-over-year decrease in free cash flow was primarily driven by a decrease in net cash flows from operating activities and an increase in capital expenditures. +Liquidity & Financing +As of December 31, 2022, total principal amount of debt was $97.4 billion and Charter's credit facilities provided approximately $4.0 billion of additional liquidity in excess of Charter's $645 million cash position. +Share Repurchases +During the three months ended December 31, 2022, Charter purchased 3.6 million shares of Charter Class A common stock and Charter Holdings common units for approximately $1.3 billion. +Full Year Financial Results +(in millions) +Year Ended December 31, +2022 +2021 +% Change +Revenues: +Internet +$    22,222 +$    21,094 +5.3 % +Video +17,460 +17,630 +(1.0) % +Voice +1,559 +1,598 +(2.5) % +Residential revenue +41,241 +40,322 +2.3 % +Small and medium business +4,301 +4,170 +3.1 % +Enterprise +2,677 +2,573 +4.0 % +Commercial revenue +6,978 +6,743 +3.5 % +Advertising sales +1,882 +1,594 +18.1 % +Mobile +3,042 +2,178 +39.7 % +Other +879 +845 +4.0 % +Total Revenues +$    54,022 +$    51,682 +4.5 % +Net income attributable to Charter shareholders +$      5,055 +$      4,654 +8.6 % +Net income attributable to Charter shareholders margin +9.4 % +9.0 % +Adjusted EBITDA1 +$    21,616 +$    20,630 +4.8 % +Adjusted EBITDA margin +40.0 % +39.9 % +Capital Expenditures +$      9,376 +$      7,635 +22.8 % +% Total Revenues +17.4 % +14.8 % +Net cash flows from operating activities +$    14,925 +$    16,239 +(8.1) % +Free cash flow1 +$      6,102 +$      8,684 +(29.7) % +Revenues +For the year ended December 31, 2022, revenues increased to $54.0 billion, 4.5% higher than in 2021, driven primarily by growth in residential, mobile and advertising sales revenues. +Operating Costs and Expenses +Operating costs and expenses totaled $32.4 billion in 2022, an increase of $1.4 billion, or 4.4% compared to the prior year ended December 31, 2021, primarily driven by increases in mobile, costs to service customers and marketing expenses.  +Net Income Attributable to Charter Shareholders +Net income attributable to Charter shareholders totaled $5.1 billion for the year ended December 31, 2022, compared to $4.7 billion in 2021. The year-over-year increase in net income attributable to Charter shareholders was primarily driven by higher Adjusted EBITDA, partly offset by higher income tax expense. +Net income per basic common share attributable to Charter shareholders totaled $31.30 for the year ended December 31, 2022, compared to $25.34 during the same period last year. The increase was primarily the result of the factors described above in addition to a 12.1% decrease in weighted average common shares outstanding versus the prior year period. +Adjusted EBITDA +Adjusted EBITDA totaled $21.6 billion for the year ended December 31, 2022, an increase of 4.8% compared to 2021, reflecting growth in revenue and operating expenses of 4.5% and 4.4%, respectively.  +Capital Expenditures +Capital expenditures totaled $9.4 billion for the year ended December 31, 2022, compared to $7.6 billion in 2021. The increase was primarily driven by higher spend on line extensions, which totaled $3.0 billion in 2022, driven by Charter's rural construction initiative. For the full year 2022, capital expenditures excluding line extensions totaled $6.4 billion. +Charter currently expects full year 2023 capital expenditures, excluding line extensions, to be between $6.5 billion and $6.8 billion. Charter expects 2023 line extensions capital expenditures to approximate $4 billion. The actual amount of capital expenditures in 2023 will depend on a number of factors including, but not limited to, the pace of Charter's network evolution and rural construction initiatives, supply chain timing and growth rates in Charter's residential and commercial businesses. +Cash Flow and Free Cash Flow +For the year ended December 31, 2022, net cash flows from operating activities totaled $14.9 billion, compared to $16.2 billion in 2021. The year-over-year decrease in net cash flows from operating activities was primarily due to higher cash taxes, higher cash paid for interest and the payment of litigation settlements, partly offset by an increase in Adjusted EBITDA. +Free cash flow for the year ended December 31, 2022 was $6.1 billion, compared to $8.7 billion during the same period last year. The year-over-year decrease in free cash flow was driven by a decrease in net cash flows from operating activities and an increase in capital expenditures. +Share Repurchases +During the year ended December 31, 2022, Charter purchased 23.8 million shares of Charter Class A common stock and Charter Holdings common units, or 12.0% of fully diluted shares outstanding (including as-exchanged Charter Holdings common units) as of December 31, 2021, for approximately $11.7 billion. +Webcast +Charter will host a webcast on Friday, January 27, 2023 at 8:30 a.m. Eastern Time (ET) related to the contents of this release. +The webcast can be accessed live via the Company's investor relations website at ir.charter.com. Participants should go to the webcast link no later than 10 minutes prior to the start time to register. The webcast will be archived at ir.charter.com two hours after completion of the webcast. +Additional Information Available on Website +The information in this press release should be read in conjunction with the financial statements and footnotes contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, which will be posted on the "Results & SEC Filings" section of the Company's investor relations website at ir.charter.com, when it is filed with the Securities and Exchange Commission (the "SEC"). A slide presentation to accompany the conference call and a trending schedule containing historical customer and financial data will also be available in the "Results & SEC Filings" section. +Use of Adjusted EBITDA and Free Cash Flow Information +The Company uses certain measures that are not defined by U.S. generally accepted accounting principles ("GAAP") to evaluate various aspects of its business. Adjusted EBITDA and free cash flow are non-GAAP financial measures and should be considered in addition to, not as a substitute for, net income attributable to Charter shareholders and net cash flows from operating activities reported in accordance with GAAP. These terms, as defined by Charter, may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA and free cash flow are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the Addendum to this release. +Adjusted EBITDA is defined as net income attributable to Charter shareholders plus net income attributable to noncontrolling interest, net interest expense, income taxes, depreciation and amortization, stock compensation expense, other income (expenses), net and other operating (income) expenses, net, such as special charges and (gain) loss on sale or retirement of assets. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of the Company's businesses as well as other non-cash or special items, and is unaffected by the Company's capital structure or investment activities. However, this measure is limited in that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues and the cash cost of financing. These costs are evaluated through other financial measures.      +Free cash flow is defined as net cash flows from operating activities, less capital expenditures and changes in accrued expenses related to capital expenditures.    +Management and Charter's board of directors use Adjusted EBITDA and free cash flow to assess Charter's performance and its ability to service its debt, fund operations and make additional investments with internally generated funds. In addition, Adjusted EBITDA generally correlates to the leverage ratio calculation under the Company's credit facilities or outstanding notes to determine compliance with the covenants contained in the facilities and notes (all such documents have been previously filed with the SEC). For the purpose of calculating compliance with leverage covenants, the Company uses Adjusted EBITDA, as presented, excluding certain expenses paid by its operating subsidiaries to other Charter entities. The Company's debt covenants refer to these expenses as management fees, which were $355 million and $352 million for the three months ended December 31, 2022 and 2021, respectively, and $1.4 billion and $1.3 billion for the years ended December 31, 2022 and 2021, respectively. +About Charter +Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator serving more than 32 million customers in 41 states through its Spectrum brand. Over an advanced communications network, the Company offers a full range of state-of-the-art residential and business services including Spectrum Internet®, TV, Mobile and Voice. +For small and medium-sized companies, Spectrum Business® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise provides highly customized, fiber-based solutions. Spectrum Reach® delivers tailored advertising and production for the modern media landscape. The Company also distributes award-winning news coverage and sports programming to its customers through Spectrum Networks. More information about Charter can be found at corporate.charter.com. +CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS +This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial.  Although we believe that our plans, intentions and expectations as reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations.  Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under "Risk Factors" from time to time in our filings with the SEC.  Many of the forward-looking statements contained in this communication may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," "aim," "on track," "target," "opportunity," "tentative," "positioning," "designed," "create," "predict," "project," "initiatives," "seek," "would," "could," "continue," "ongoing," "upside," "increases," "grow," "focused on" and "potential," among others.  Important factors that could cause actual results to differ materially from the forward-looking statements we make in this communication are set forth in our annual report on Form 10-K, and in other reports or documents that we file from time to time with the SEC, and include, but are not limited to: +our ability to sustain and grow revenues and cash flow from operations by offering Internet, video, voice, mobile, advertising and other services to residential and commercial customers, to adequately meet the customer experience demands in our service areas and to maintain and grow our customer base, particularly in the face of increasingly aggressive competition, the need for innovation and the related capital expenditures;the impact of competition from other market participants, including but not limited to incumbent telephone companies, direct broadcast satellite ("DBS") operators, wireless broadband and telephone providers, digital subscriber line ("DSL") providers, fiber to the home providers and providers of video content over broadband Internet connections;general business conditions, unemployment levels and the level of activity in the housing sector and economic uncertainty or downturn;our ability to obtain programming at reasonable prices or to raise prices to offset, in whole or in part, the effects of higher programming costs (including retransmission consents and distribution requirements);our ability to develop and deploy new products and technologies including consumer services and service platforms;any events that disrupt our networks, information systems or properties and impair our operating activities or our reputation;the effects of governmental regulation on our business including subsidies to consumers, subsidies and incentives for competitors, costs, disruptions and possible limitations on operating flexibility related to, and our ability to comply with, regulatory conditions applicable to us;the ability to hire and retain key personnel;our ability to procure necessary services and equipment from our vendors in a timely manner and at reasonable costs including in connection with our network evolution and rural construction initiatives;the availability and access, in general, of funds to meet our debt obligations prior to or when they become due and to fund our operations and necessary capital expenditures, either through (i) cash on hand, (ii) free cash flow, or (iii) access to the capital or credit markets; andour ability to comply with all covenants in our indentures and credit facilities, any violation of which, if not cured in a timely manner, could trigger a default of our other obligations under cross-default provisions.All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement.  We are under no duty or obligation to update any of the forward-looking statements after the date of this communication. +CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES +UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO GAAP MEASURES +(dollars in millions) +Three Months Ended December 31, +Year Ended December 31, +2022 +2021 +2022 +2021 +Net income attributable to Charter shareholders +$             1,196 +$             1,610 +$             5,055 +$             4,654 +Plus:  Net income attributable to noncontrolling interest +189 +224 +794 +666 +Interest expense, net +1,227 +1,034 +4,556 +4,037 +Income tax expense +419 +224 +1,613 +1,068 +Depreciation and amortization +2,192 +2,280 +8,903 +9,345 +Stock compensation expense +110 +98 +470 +430 +Other (income) expenses, net +149 +(91) +225 +430 +Adjusted EBITDA +$             5,482 +$             5,379 +$           21,616 +$           20,630 +Net cash flows from operating activities +$             3,787 +$             4,226 +$           14,925 +$           16,239 +Less:  Purchases of property, plant and equipment +(2,920) +(2,072) +(9,376) +(7,635) +Change in accrued expenses related to capital expenditures +269 +131 +553 +80 +Free cash flow +$             1,136 +$             2,285 +$             6,102 +$             8,684 +The above schedule is presented in order to reconcile Adjusted EBITDA and free cash flow, non-GAAP measures, to the most directly comparable GAAP measures in accordance with Section 401(b) of the Sarbanes-Oxley Act. +  +UNAUDITED ALTERNATIVE PRESENTATION OF ADJUSTED EBITDA +(dollars in millions) +Three Months Ended December 31, +Year Ended December 31, +2022 +2021 +% Change +2022 +2021 +% Change +REVENUES: +Internet +$        5,637 +$        5,424 +3.9 % +$      22,222 +$      21,094 +5.3 % +Video +4,251 +4,406 +(3.5) % +17,460 +17,630 +(1.0) % +Voice +379 +396 +(4.3) % +1,559 +1,598 +(2.5) % +Residential revenue +10,267 +10,226 +0.4 % +41,241 +40,322 +2.3 % +Small and medium business +1,080 +1,054 +2.4 % +4,301 +4,170 +3.1 % +Enterprise +674 +643 +4.9 % +2,677 +2,573 +4.0 % +Commercial revenue +1,754 +1,697 +3.3 % +6,978 +6,743 +3.5 % +Advertising sales +558 +448 +24.6 % +1,882 +1,594 +18.1 % +Mobile +876 +632 +38.7 % +3,042 +2,178 +39.7 % +Other +219 +209 +4.9 % +879 +845 +4.0 % +Total Revenues +13,674 +13,212 +3.5 % +54,022 +51,682 +4.5 % +COSTS AND EXPENSES: +Programming +2,800 +2,895 +(3.3) % +11,620 +11,844 +(1.9) % +Regulatory, connectivity and produced content +561 +592 +(5.3) % +2,303 +2,494 +(7.7) % +Costs to service customers +1,971 +1,863 +5.8 % +7,772 +7,393 +5.1 % +Marketing +846 +791 +6.9 % +3,339 +3,071 +8.7 % +Mobile +982 +724 +35.7 % +3,385 +2,489 +36.0 % +Other expense (a) +1,032 +968 +6.6 % +3,987 +3,761 +6.0 % +Total operating costs and expenses (a) +8,192 +7,833 +4.6 % +32,406 +31,052 +4.4 % +Adjusted EBITDA +$        5,482 +$        5,379 +1.9 % +$      21,616 +$      20,630 +4.8 % +(a) +Other expense excludes stock compensation expense.  Total operating costs and expenses excludes stock compensation expense, depreciation and amortization and other operating (income) expenses, net. +All percentages are calculated using whole numbers. Minor differences may exist due to rounding. +  +CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES +UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS +(dollars in millions, except per share data) +Three Months Ended December 31, +Year Ended December 31, +2022 +2021 +2022 +2021 +REVENUES +$           13,674 +$           13,212 +$           54,022 +$           51,682 +COSTS AND EXPENSES: +Operating costs and expenses (exclusive of items shown separately below) +8,302 +7,931 +32,876 +31,482 +Depreciation and amortization +2,192 +2,280 +8,903 +9,345 +Other operating expenses, net +140 +45 +281 +329 +10,634 +10,256 +42,060 +41,156 +Income from operations +3,040 +2,956 +11,962 +10,526 +OTHER INCOME (EXPENSES): +Interest expense, net +(1,227) +(1,034) +(4,556) +(4,037) +Other income (expense), net +(9) +136 +56 +(101) +(1,236) +(898) +(4,500) +(4,138) +Income before income taxes +1,804 +2,058 +7,462 +6,388 +Income tax expense +(419) +(224) +(1,613) +(1,068) +Consolidated net income +1,385 +1,834 +5,849 +5,320 +Less: Net income attributable to noncontrolling interests +(189) +(224) +(794) +(666) +Net income attributable to Charter shareholders +$             1,196 +$             1,610 +$             5,055 +$             4,654 +EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CHARTER SHAREHOLDERS: +Basic +$               7.79 +$               9.17 +$             31.30 +$             25.34 +Diluted +$               7.69 +$               8.93 +$             30.74 +$             24.47 +Weighted average common shares outstanding, basic +153,523,976 +175,623,846 +161,501,355 +183,669,369 +Weighted average common shares outstanding, diluted +155,554,890 +180,417,622 +164,433,596 +193,042,948 +  +CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES +CONDENSED CONSOLIDATED BALANCE SHEETS +(dollars in millions) +December 31, +2022 +2021 +ASSETS +CURRENT ASSETS: +Cash and cash equivalents +$                    645 +$                    601 +Accounts receivable, net +2,921 +2,579 +Prepaid expenses and other current assets +451 +386 +Total current assets +4,017 +3,566 +INVESTMENT IN CABLE PROPERTIES: +Property, plant and equipment, net +36,039 +34,310 +Customer relationships, net +2,772 +4,060 +Franchises +67,363 +67,346 +Goodwill +29,563 +29,562 +Total investment in cable properties, net +135,737 +135,278 +OTHER NONCURRENT ASSETS +4,769 +3,647 +Total assets +$              144,523 +$              142,491 +LIABILITIES AND SHAREHOLDERS' EQUITY +CURRENT LIABILITIES: +Accounts payable and accrued liabilities +$               10,555 +$                 9,461 +Current portion of long-term debt +1,510 +2,997 +Total current liabilities +12,065 +12,458 +LONG-TERM DEBT +96,093 +88,564 +DEFERRED INCOME TAXES +19,058 +19,096 +OTHER LONG-TERM LIABILITIES +4,758 +4,217 +SHAREHOLDERS' EQUITY: +Controlling interest +9,119 +14,050 +Noncontrolling interests +3,430 +4,106 +Total shareholders' equity +12,549 +18,156 +Total liabilities and shareholders' equity +$              144,523 +$              142,491 +  +CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES +UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS +(dollars in millions) +Three Months Ended December 31, +Year Ended December 31, +2022 +2021 +2022 +2021 +CASH FLOWS FROM OPERATING ACTIVITIES: +Consolidated net income +$             1,385 +$             1,834 +$             5,849 +$             5,320 +Adjustments to reconcile consolidated net income to net cash flows from operating activities: +Depreciation and amortization +2,192 +2,280 +8,903 +9,345 +Stock compensation expense +110 +98 +470 +430 +Noncash interest income, net +(5) +(3) +(17) +(23) +Deferred income taxes +(78) +158 +87 +826 +Other, net +142 +(98) +29 +181 +Changes in operating assets and liabilities, net of effects from acquisitions and dispositions: +Accounts receivable +(80) +71 +(342) +(35) +Prepaid expenses and other assets +(106) +(40) +(202) +(167) +Accounts payable, accrued liabilities and other +227 +(74) +148 +362 +Net cash flows from operating activities +3,787 +4,226 +14,925 +16,239 +CASH FLOWS FROM INVESTING ACTIVITIES: +Purchases of property, plant and equipment +(2,920) +(2,072) +(9,376) +(7,635) +Change in accrued expenses related to capital expenditures +269 +131 +553 +80 +Other, net +(117) +(51) +(291) +(199) +Net cash flows from investing activities +(2,768) +(1,992) +(9,114) +(7,754) +CASH FLOWS FROM FINANCING ACTIVITIES: +Borrowings of long-term debt +4,115 +5,713 +25,643 +20,976 +Repayments of long-term debt +(3,652) +(2,495) +(19,311) +(12,146) +Payments for debt issuance costs +— +(26) +(71) +(102) +Purchase of treasury stock +(1,032) +(4,597) +(10,277) +(15,431) +Proceeds from exercise of stock options +— +1 +5 +44 +Purchase of noncontrolling interest +(223) +(734) +(1,602) +(2,234) +Distributions to noncontrolling interest +(55) +(4) +(111) +(75) +Other, net +(7) +43 +(43) +83 +Net cash flows from financing activities +(854) +(2,099) +(5,767) +(8,885) +NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS +165 +135 +44 +(400) +CASH AND CASH EQUIVALENTS, beginning of period +480 +466 +601 +1,001 +CASH AND CASH EQUIVALENTS, end of period +$                645 +$                601 +$                645 +$                601 +CASH PAID FOR INTEREST +$             1,258 +$             1,005 +$             4,509 +$             4,043 +CASH PAID FOR TAXES +$                439 +$                  58 +$             1,321 +$                157 +  +CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES +UNAUDITED SUMMARY OF OPERATING STATISTICS +(in thousands, except per customer and penetration data) +Approximate as of +December 31, 2022 (a) +September 30, 2022 (a) +December 31, 2021 (a) +Footprint (b) +Estimated Passings +55,573 +55,288 +54,521 +Customer Relationships (c) +Residential +29,988 +29,946 +29,926 +SMB +2,207 +2,195 +2,143 +Total Customer Relationships +32,195 +32,141 +32,069 +Residential +42 +4 +103 +SMB +12 +13 +17 +Total Customer Relationships Quarterly Net Additions +54 +17 +120 +Total Customer Relationship Penetration of Estimated Passings (d) +57.9 % +58.1 % +58.8 % +Monthly Residential Revenue per Residential Customer (e) +$         114.20 +$         115.16 +$         114.14 +Monthly SMB Revenue per SMB Customer (f) +$         163.44 +$         164.89 +$         164.59 +Residential Customer Relationships Penetration +Single Play Penetration (g) +49.1 % +48.5 % +46.7 % +Double Play Penetration (g) +33.1 % +33.1 % +33.0 % +Triple Play Penetration (g) +17.8 % +18.4 % +20.4 % +% Residential Non-Video Customer Relationships +51.7 % +51.1 % +49.2 % +Internet +Residential +28,412 +28,320 +28,137 +SMB +2,021 +2,008 +1,952 +Total Internet Customers +30,433 +30,328 +30,089 +Residential +92 +61 +172 +SMB +13 +14 +18 +Total Internet Quarterly Net Additions +105 +75 +190 +Video +Residential +14,497 +14,642 +15,216 +SMB +650 +649 +617 +Total Video Customers +15,147 +15,291 +15,833 +Residential +(145) +(211) +(71) +SMB +1 +7 +13 +Total Video Quarterly Net Additions +(144) +(204) +(58) +Voice +Residential +7,697 +7,929 +8,621 +SMB +1,286 +1,287 +1,282 +Total Voice Customers +8,983 +9,216 +9,903 +Residential +(232) +(271) +(163) +SMB +(1) +— +9 +Total Voice Quarterly Net Additions +(233) +(271) +(154) +Mobile Lines (h) +Residential +5,116 +4,516 +3,448 +SMB +176 +161 +116 +Total Mobile Lines +5,292 +4,677 +3,564 +Residential +600 +382 +363 +SMB +15 +14 +17 +Total Mobile Lines Quarterly Net Additions +615 +396 +380 +Enterprise (i) +Enterprise Primary Service Units ("PSUs") +284 +282 +272 +Enterprise Quarterly Net Additions +2 +5 +3 +(a) +We calculate the aging of customer accounts based on the monthly billing cycle for each account.  On that basis, at December 31, 2022, September 30, 2022 and December 31, 2021, customers included approximately 144,100, 151,700 and 128,300 customers, respectively, whose accounts were over 60 days past due, approximately 52,800, 55,500 and 26,800 customers, respectively, whose accounts were over 90 days past due and approximately 214,100, 149,300 and 43,200 customers, respectively, whose accounts were over 120 days past due.  Bad debt expense associated with these past due accounts has been reflected in our consolidated statements of operations.  The increase in past due accounts is predominately due to pre-existing and incremental unsubsidized services, including video services, for those customers participating in government assistance programs.  These customers are downgraded to a fully subsidized Internet-only service. +(b) +Passings represent our estimate of the number of units, such as single family homes, apartment and condominium units and SMB and enterprise sites passed by our cable distribution network in the areas where we offer the service indicated.  These estimates are based upon the information available at this time and are updated for all periods presented when new information becomes available. +(c) +Customer relationships include the number of customers that receive one or more levels of service, encompassing Internet, video and voice services, without regard to which service(s) such customers receive.  Customers who reside in residential multiple dwelling units ("MDUs") and that are billed under bulk contracts are counted based on the number of billed units within each bulk MDU.  Total customer relationships exclude enterprise and mobile-only customer relationships. +(d) +Penetration represents residential and SMB customers as a percentage of estimated passings.  Penetration excludes mobile-only customers. +(e) +Monthly residential revenue per residential customer is calculated as total residential quarterly revenue divided by three divided by average residential customer relationships during the respective quarter and excludes mobile revenue and customers. +(f) +Monthly SMB revenue per SMB customer is calculated as total SMB quarterly revenue divided by three divided by average SMB customer relationships during the respective quarter and excludes mobile revenue and customers. +(g) +Single play, double play and triple play penetration represents the number of residential single play, double play and triple play cable customers, respectively, as a percentage of residential customer relationships, excluding mobile. +(h) +Mobile lines include phones and tablets which require one of our standard rate plans (e.g., "Unlimited" or "By the Gig").  Mobile lines exclude wearables and other devices that do not require standard phone rate plans. +(i) +Enterprise PSUs represents the aggregate number of fiber service offerings counting each separate service offering at each customer location as an individual PSU. +  +CHARTER COMMUNICATIONS, INC. 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1,855 + + + + + $ + + + + + 2,068 + + + + + $ + + + + + 2,476 + + + + + $ + + + + + 2,285 + + + + + $ + + + + + 8,684 + + + + + $ + + + + + 1,800 + + + + + $ + + + + + 1,659 + + + + + $ + + + + + 1,507 + + + + + $ + + + + + 1,136 + + + + + $ + + + + + 6,102 + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + See page 2 for detail of the components included within Adjusted EBITDA (i). + + + The above schedule is presented in order to reconcile Adjusted EBITDA (i) and free cash flow (i), non-GAAP measures, to the most directly comparable GAAP measures in accordance with Section 401(b) of the Sarbanes-Oxley Act. See footnotes on page 5. + + + + + 4 + + + + + + + Charter Communications, Inc. + + + Notes + + + +Passings represent our estimate of the number of units, such as single family homes, apartment and condominium units and small and medium business and enterprise sites passed by our cable distribution network in the areas where we offer service. These estimates are based upon the information available at this time and are updated for all periods presented when new information becomes available. + + +Customer relationships include the number of customers that receive one or more levels of service, encompassing Internet, video and voice services, without regard to which service(s) such customers receive. Customers who reside in residential multiple dwelling units ("MDUs") and that are billed under bulk contracts are counted based on the number of billed units within each bulk MDU. Total customer relationships exclude enterprise and mobile-only customer relationships. + + +Penetration represents residential and SMB customers as a percentage of estimated passings. Penetration excludes mobile-only customers. + + +Monthly residential revenue per residential customer is calculated as total residential quarterly revenue divided by three divided by average residential customer relationships during the respective quarter and excludes mobile revenue and customers. + + +Monthly SMB revenue per SMB customer is calculated as total SMB quarterly revenue divided by three divided by average SMB customer relationships during the respective quarter and excludes mobile revenue and customers. + + +Single play, double play and triple play penetration represents the number of residential single play, double play and triple play customers, respectively, as a percentage of residential customer relationships, excluding mobile. + + +Mobile lines include phones and tablets which require one of our standard rate plans (e.g., "Unlimited" or "By the Gig"). Mobile lines exclude wearables and other devices that do not require standard phone rate plans. + + +Enterprise PSUs represents the aggregate number of fiber service offerings counting each separate service offering at each customer location as an individual PSU. + + +Adjusted EBITDA is defined as net income attributable to Charter shareholders plus net income attributable to noncontrolling interest, net interest expense, income taxes, depreciation and amortization, stock compensation expense, other (income) expenses, net and other operating (income) expenses, net such as special charges and (gain) loss on sale or retirement of assets. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of our businesses as well as other non-cash or special items, and is unaffected by our capital structure or investment activities. Free cash flow is defined as net cash flows from operating activities, less capital expenditures and changes in accrued expenses related to capital expenditures. + + +Other expense excludes stock compensation expense. Total operating costs and expenses excludes stock compensation expense, depreciation and amortization and other operating (income) expenses, net. + + +Customer premise equipment includes costs incurred at the customer residence to secure new customers and revenue generating units, including customer installation costs and customer + + + + premise equipment (e.g., digital receivers and cable modems, etc.). + + + +Scalable infrastructure includes costs, not related to customer premise equipment or our network, to secure growth of new customers and revenue generating units, or provide service enhancements (e.g., headend equipment). + + + + +Line extensions include network costs associated with entering new service areas (e.g., fiber/coaxial cable, amplifiers, electronic equipment, make-ready and design engineering). + + + + +Upgrade/rebuild includes costs to modify or replace existing fiber/coaxial cable networks, including betterments. + + +Support capital includes costs associated with the replacement or enhancement of non-network assets due to technological and physical obsolescence (e.g., non-network equipment, land, buildings and vehicles). + + +Core cable represents total capital expenditures excluding mobile and rural construction initiative capital expenditures. + + +The rural construction initiative subcategory includes expenditures associated with our Rural Construction Initiative (for which separate reporting was initiated in 2022), excluding customer premise equipment and installation. + + + + + + 5 + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Charter Communications Inc. published this content on 25 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2023 13:28:08 UTC. + + diff --git a/news/CHTR/2023.01.27/Marketmind: Chipped.txt b/news/CHTR/2023.01.27/Marketmind: Chipped.txt new file mode 100644 index 0000000000000000000000000000000000000000..9378e4e0fc1b737ac20518143cebc130b0a7fede --- /dev/null +++ b/news/CHTR/2023.01.27/Marketmind: Chipped.txt @@ -0,0 +1 @@ +A surge of 'soft landing' hopes for the U.S. economy on Thursday got sideswiped overnight after a dire industry readout from chipmaking giant Intel decimated its stock price after the bell.Intel dropped a whopping 10% after the firm said it expects to lose money in the current quarter, surprising investors with a bleak outlook for both the PC market and its key data center division."We stumbled... we lost share, we lost momentum," said Chief Executive Pat Gelsinger as the company flagged a glut of chips in the PC industry, cratering demand for consumer electronics, and a drop in recession-wary business investment."We expect some of the largest inventory corrections literally that we've ever seen in the industry," he told Reuters later.While the chip world and Intel may have peculiar post-pandemic issues, the question of mounting inventories was one worrying feature of Thursday's otherwise surprisingly upbeat U.S. GDP report for the final quarter of last year.While annualised Q4 economic growth came in at a brisk 2.9%, the Commerce Department showed half of that came from a sharp rise in inventory held by businesses, some of which is likely unwanted and which may now be run down while production is scaled back.That may cast a pall on the new year outlook, but it should also encourage hopes of discounting and disinflation, with Friday's release of the Federal Reserve's favoured inflation measure - the Personal Consumption Expenditures (PCE) index - now a key focus ahead of next week's Fed policy meeting.Annual 'core' PCE inflation is expected to have slowed to 4.4% last month, the lowest in more than a year, from 4.7% in November.With the Fed decision now firmly in view and widely expected to conclude another downsizing of its interest rate hikes to just 25 basis points, persistent tightness in the U.S. labour market is one area that will keep the central bank on alert.A separate report from the Labor Department showed initial claims for state unemployment benefits fell last week to the lowest level since April 2022.The flipside to such low prevailing jobless readings is a wave of company announcements on planned staff cuts - something that was initially concentrated in the digital and tech universe, but is now broadening out to other sectors.Toymaker Hasbro said on Thursday it would cut about 15% of its global workforce this year, eliminating about 1,000 full-time positions globally and joining a growing list of firms shedding jobs, including big industrial names this week such as Dow and 3M. Hasbro stock fell 5% in afterhours trade.American Express and Colgate-Palmolive are among the companies reporting on Friday. After 1%-plus gains for the major Wall St indices on Thursday to new year highs, stock futures are back in the red ahead of Friday's open. U.S. Treasury yields and the dollar were a touch higher.Overseas, Japan's yen firmed after news that annual core consumer prices in Tokyo, a leading indicator of nationwide trends, rose 4.3% in January, the fastest in nearly 42 years.While the data keeps the Bank of Japan under pressure to phase out its ongoing monetary stimulus and cap on government borrowing rates, Prime Minister Fumio Kishida insisted a return to deflation can't be ruled out as domestic demand remains weak.British finance minister Jeremy Hunt meantime promised to tackle the country's weak productivity with post-Brexit finance reforms to boost growth, but signalled he would stick to tax rises as one way to tackle high inflation. "The best tax cut right now is a cut in inflation," he said.Shares in India's Adani Enterprises sank 20% on Friday as a scathing report by a U.S. short seller triggered a rout in the conglomerate's listed firms, casting doubts on how investors will respond to the company's record $2.45 billion secondary offer. Seven listed companies of the Adani conglomerate - controlled by one of the world's richest men, Gautam Adani - have lost a combined $48 billion in market capitalisation since Wednesday.U.S. bonds of Adani firms also fell after Hindenburg Research flagged concerns in a Jan. 24 report about debt levels and the use of tax havens.Key developments that may provide direction to U.S. markets later on Friday: * U.S. Dec Personal Consumption Expenditure (PCE) price index and personal income/spending, Dallas Fed's Dec Trimmed Mean PCE Price Index, Dec pending home sales, Kansas City Fed's Jan services index, University of Michigan's Jan consumer sentiment and inflation expectations* U.S. corp earnings: American Express, Chevron, HCA Healthcare, Colgate-Palmolive, Roper Technologies, Charter Communications (By Mike Dolan, editing by XXXX mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD; Editing by Jan Harvey) \ No newline at end of file diff --git a/news/CHTR/2023.01.30/Charter Offers Senior Unsecured Notes.txt b/news/CHTR/2023.01.30/Charter Offers Senior Unsecured Notes.txt new file mode 100644 index 0000000000000000000000000000000000000000..c104b49a15b2f12edb4a17002c297c74a18c39ee --- /dev/null +++ b/news/CHTR/2023.01.30/Charter Offers Senior Unsecured Notes.txt @@ -0,0 +1,24 @@ + + +STAMFORD, Conn., Jan. 30, 2023 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, "Charter") today announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp. (collectively, the "Issuers"), intend to offer senior unsecured notes (the "Notes"). + + + + + + + +The Issuers intend to use the net proceeds from the sale of the Notes for general corporate purposes, including to repay certain indebtedness, to fund potential buybacks of Class A common stock of Charter and common units of Charter Communications Holdings, LLC and to pay related fees and expenses. +The Notes will be sold to qualified institutional buyers in reliance on Rule 144A and outside the United States to non-U.S. persons in reliance on Regulation S. The Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The offering is subject to, among other things, market conditions. +This news release is neither an offer to sell nor a solicitation of an offer to buy the Notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful. +About Charter Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator serving more than 32 million customers in 41 states through its Spectrum brand. Over an advanced communications network, the Company offers a full range of state-of-the-art residential and business services including Spectrum Internet®, TV, Mobile and Voice. +For small and medium-sized companies, Spectrum Business® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise provides highly customized, fiber-based solutions. Spectrum Reach® delivers tailored advertising and production for the modern media landscape. The Company also distributes award-winning news coverage and sports programming to its customers through Spectrum Networks. More information about Charter can be found at corporate.charter.com. +CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS +This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the potential offering.  Although we believe that our plans, intentions and expectations as reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations.  Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under "Risk Factors" from time to time in our filings with the SEC.  Many of the forward-looking statements contained in this communication may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," and "potential," among others. +All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement.  We are under no duty or obligation to update any of the forward-looking statements after the date of this communication. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/charter-offers-senior-unsecured-notes-301733469.html +SOURCE Charter Communications, Inc. + + diff --git a/news/CHTR/2023.01.30/Charter Prices $1.1 Billion Senior Unsecured Notes.txt b/news/CHTR/2023.01.30/Charter Prices $1.1 Billion Senior Unsecured Notes.txt new file mode 100644 index 0000000000000000000000000000000000000000..87252a1ed0b806e2378da4d294e8e24d0a0154df --- /dev/null +++ b/news/CHTR/2023.01.30/Charter Prices $1.1 Billion Senior Unsecured Notes.txt @@ -0,0 +1,23 @@ + + +STAMFORD, Conn., Jan. 30, 2023 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, "Charter") today announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp. (collectively, the "Issuers"), have priced $1.1 billion in aggregate principal amount of senior unsecured notes due 2031 (the "Notes"). The Notes will bear interest at a rate of 7.375% per annum and will be issued at a price of 100.000% of the aggregate principal amount. + + + + + + + +The Issuers intend to use the net proceeds from the sale of the Notes for general corporate purposes, including to repay certain indebtedness, to fund potential buybacks of Class A common stock of Charter and common units of Charter Communications Holdings, LLC and to pay related fees and expenses. Charter expects to close the offering of the Notes on February 13, 2023, subject to customary closing conditions. +The Notes were sold to qualified institutional buyers in reliance on Rule 144A and outside the United States to non-U.S. persons in reliance on Regulation S. The Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The offering is subject to, among other things, market conditions. +This news release is neither an offer to sell nor a solicitation of an offer to buy the Notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful. +About Charter Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator serving more than 32 million customers in 41 states through its Spectrum brand. Over an advanced communications network, the Company offers a full range of state-of-the-art residential and business services including Spectrum Internet®, TV, Mobile and Voice. +For small and medium-sized companies, Spectrum Business® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise provides highly customized, fiber-based solutions. Spectrum Reach® delivers tailored advertising and production for the modern media landscape. The Company also distributes award-winning news coverage and sports programming to its customers through Spectrum Networks. More information about Charter can be found at corporate.charter.com. +CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTSThis communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the potential offering. Although we believe that our plans, intentions and expectations as reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under "Risk Factors" from time to time in our filings with the SEC. Many of the forward-looking statements contained in this communication may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," and "potential," among others. +All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. We are under no duty or obligation to update any of the forward-looking statements after the date of this communication. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/charter-prices-1-1-billion-senior-unsecured-notes-301734093.html +SOURCE Charter Communications, Inc. + + diff --git a/news/CHTR/2023.02.13/Charter Closes $1.1 Billion Senior Unsecured Notes.txt b/news/CHTR/2023.02.13/Charter Closes $1.1 Billion Senior Unsecured Notes.txt new file mode 100644 index 0000000000000000000000000000000000000000..01ed653e22024f954d97b4b38ec55c6fa02b9a08 --- /dev/null +++ b/news/CHTR/2023.02.13/Charter Closes $1.1 Billion Senior Unsecured Notes.txt @@ -0,0 +1,20 @@ + + +STAMFORD, Conn., Feb. 13, 2023 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, "Charter") today announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., have closed on $1.1 billion in aggregate principal amount of senior unsecured notes due 2031 (the "Notes"). The Notes bear interest at a rate of 7.375% per annum and were issued at a price of 100.000% of the aggregate principal amount. + + + + + + + +The Notes were sold to qualified institutional buyers in reliance on Rule 144A and outside the United States to non-U.S. persons in reliance on Regulation S. The Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. +This news release is neither an offer to sell nor a solicitation of an offer to buy the Notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful. +About Charter Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator serving more than 32 million customers in 41 states through its Spectrum brand. Over an advanced communications network, the Company offers a full range of state-of-the-art residential and business services including Spectrum Internet®, TV, Mobile and Voice. +For small and medium-sized companies, Spectrum Business® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise provides highly customized, fiber-based solutions. Spectrum Reach® delivers tailored advertising and production for the modern media landscape. The Company also distributes award-winning news coverage and sports programming to its customers through Spectrum Networks. More information about Charter can be found at corporate.charter.com. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/charter-closes-1-1-billion-senior-unsecured-notes-301745627.html +SOURCE Charter Communications, Inc. + + diff --git a/news/CHTR/2023.02.14/Spectrum Community Solutions Selects Multifamily Proptech Innovator Quext as Preferred ...txt b/news/CHTR/2023.02.14/Spectrum Community Solutions Selects Multifamily Proptech Innovator Quext as Preferred ...txt new file mode 100644 index 0000000000000000000000000000000000000000..8860f0ba20da799c0353f79e6e66e28961fdad40 --- /dev/null +++ b/news/CHTR/2023.02.14/Spectrum Community Solutions Selects Multifamily Proptech Innovator Quext as Preferred ...txt @@ -0,0 +1,29 @@ + +Charter Communications, Inc. today announced a new strategic teaming arrangement with Texas-based technology company Quext, making Quext IoT the preferred smart home offering for new and existing customers served by Spectrum Community Solutions, Charter’s brand dedicated to multifamily properties. Through this agreement, both organizations gain a best-in-class solution to bundle and benefit their customer and prospect bases. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230214005244/en/ +With Quext IoT as its preferred smart apartment solution, Charter will further bolster its Spectrum Community Solutions services for multifamily properties by strategically offering Quext IoT’s smart apartment technology with its Advanced Community WiFi solutions. This will give building residents the ability to remotely manage smart-home devices such as apartment door locks and thermostats. The arrangement also enables Quext to expand its market. Charter’s Spectrum Community Solutions, which operates across 41 states, brings tremendous sales reach and scale. + +"Our new teaming agreement with Quext allows us to recommend smart IoT solutions to our multifamily communities,” said Keith Dardis, Senior Vice President of Spectrum Community Solutions at Charter. “We can now pair our superior connectivity solutions with the most innovative IoT smart home technology. Together, these products offer a complimentary solution to increase net operating income.” + +Spectrum Community Solutions Improves Quality of Life with Quext Smart Home and Apartment Innovative Technology + +Quext IoT’s patented solution has proven an innovative approach to smart apartment technology in a number of ways. Invented and developed by multifamily owners and operators, its design requires significantly less hardware and capital investment to implement and maintain. As operators themselves, Quext designed its solution with a focus on operational efficiencies, addressing real pain points like reducing onsite hardware, improving lock battery life, and remote lock credentialing to minimize maintenance calls and disruption. And, due to its unique network design, Quext IoT is an ideal solution for both existing property retrofits and new construction of all classes. + +"We are tremendously honored that Charter has chosen Quext IoT as its preferred smart home solution in the multifamily space. Our teams are so closely aligned in both our telecom and multifamily industry experience. Teaming with Spectrum will help both organizations to deploy affordable, highly desirable and valuable products on their properties," said Dave Gilles, CEO of Quext. "This agreement tremendously benefits owners and operators in the multifamily industry, their investors and residents as well." + +The agreement represents a significant sales and marketing alliance allowing the Spectrum Community Solutions sales team to offer multi-unit property owners two of the industry’s most in-demand amenities – Bulk Internet/WiFi and Smart Home/IoT. Together, WiFi and smart home automation allow both organizations the ability to rapidly scale while providing added value to more customers. Advantages and benefits include: + +Charter’s teaming agreement with Quext is currently available to new and existing Spectrum Community Solutions customers in Texas and Florida, and will be offered to customers throughout Charter’s footprint in the coming months. Spectrum Community Solutions delivers industry-leading broadband connectivity solutions to apartments, single-family gated communities, off-campus student housing, senior residences, and RV parks and marinas. Services offered by Spectrum Community Solutions include internet speeds up to 1 Gbps, property-wide WiFi coverage with WiFi 6 technology, and traditional and streaming video packages, as well as customized fiber and coaxial solutions for new construction and established communities. + +To assist customers, Spectrum Community Solutions provides dedicated phone support for property managers, 24/7 customer service from four U.S.-based call centers, and customers can manage their Spectrum accounts and services from anywhere with Charter’s top-rated support app, the My Spectrum App. More information is available at www.spectrum.com/community-solutions. + +About Charter + +Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator serving more than 32 million customers in 41 states through its Spectrum brand. Over an advanced communications network, the Company offers a full range of state-of-the-art residential and business services including Spectrum Internet®, TV, Mobile and Voice. + +For small and medium-sized companies, Spectrum Business® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise provides highly customized, fiber-based solutions. Spectrum Reach® delivers tailored advertising and production for the modern media landscape. The Company also distributes award-winning news coverage and sports programming to its customers through Spectrum Networks. More information about Charter can be found at corporate.charter.com. + +About Quext: + +Quext, is a game-changing technology and software company that makes smarter decisions brilliantly simple. Created by industry experts, Quext reimagined apartment technology with products that work seamlessly together delivering the easiest-to-learn, most intuitive, all-in-one, cloud-based apartment community nerve center ever offered. Core platform innovations include internet of things, digital human customer support, broadband internet, and fintech solutions. Quext is a people-centric firm backed by Madera Residential, an industry leader in multifamily housing investment and property management. Headquartered in Lubbock, TX, the company was recognized as a winner of the Fierce Wireless IoT Challenge 2020. To learn more, visit https://onequext.com/ or follow us on LinkedIn at https://www.linkedin.com/company/onequext. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005244/en/ \ No newline at end of file diff --git a/news/CHTR/2023.02.21/Charter to Participate in Deutsche Bank Media, Internet and Telecom Conference.txt b/news/CHTR/2023.02.21/Charter to Participate in Deutsche Bank Media, Internet and Telecom Conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..5dff292b6dcb7034bd5e471cdf09845ec0dfcae9 --- /dev/null +++ b/news/CHTR/2023.02.21/Charter to Participate in Deutsche Bank Media, Internet and Telecom Conference.txt @@ -0,0 +1,20 @@ + + +STAMFORD, Conn., Feb. 21, 2023 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, "Charter") today announced that Jessica Fischer, Chief Financial Officer, will participate in the Deutsche Bank Media, Internet and Telecom Conference in Palm Beach, Florida on Tuesday, February 28, 2023. Ms. Fischer's remarks are scheduled to begin at 12:10 p.m. ET. + + + + + + + +A live webcast of the event can be accessed on Charter's investor relations website, ir.charter.com. Following the live broadcast, the webcast will be archived at ir.charter.com. +About Charter +Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator serving more than 32 million customers in 41 states through its Spectrum brand. Over an advanced communications network, the Company offers a full range of state-of-the-art residential and business services including Spectrum Internet®, TV, Mobile and Voice. +For small and medium-sized companies, Spectrum Business® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise provides highly customized, fiber-based solutions. Spectrum Reach® delivers tailored advertising and production for the modern media landscape. The Company also distributes award-winning news coverage and sports programming to its customers through Spectrum Networks. More information about Charter can be found at corporate.charter.com. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/charter-to-participate-in-deutsche-bank-media-internet-and-telecom-conference-301751131.html +SOURCE Charter Communications, Inc. + + diff --git a/news/CHTR/2023.02.22/Florida TV journalist shot dead while reporting on a murder - police.txt b/news/CHTR/2023.02.22/Florida TV journalist shot dead while reporting on a murder - police.txt new file mode 100644 index 0000000000000000000000000000000000000000..44844d8dbcf8699c0a8668729bfa99927a0b27b4 --- /dev/null +++ b/news/CHTR/2023.02.22/Florida TV journalist shot dead while reporting on a murder - police.txt @@ -0,0 +1 @@ +A suspect identified as Keith Melvin Moses, 19, was arrested shortly after the assaults on the TV news team and the mother and daughter, about a block away from each other, in the Orlando suburb of Pine Hills, said Orange County Sheriff John Mina.Moses was detained as a suspect in both those attacks and was formally charged in the killing hours earlier of a woman in her 20s, a shooting that the two journalists were covering when they came under fire, Mina said.The sheriff described the two journalists as a reporter and a photographer for central Florida cable TV outlet Spectrum News 13, which is owned by Charter Communications. None of victims was identified.Mina said the suspect was armed with a pistol when taken into custody and has a lengthy criminal record that included arrests on charges of firearms offenses aggravated battery, assault with a deadly weapon, burglary and grand theft.Mina said no motive had been determined for any of Wednesday's shootings, but he said Moses was believed to have been an acquaintance of the first victim, who was shot while sitting in a car with the suspected gunman and another person.The sheriff said he did not know whether the two newsmen were targeted because they were journalists, adding that their automobile lacked the logos and markings typically seen on a news vehicle. They were in or near their vehicle when shot."As far as we know, he had no connection to the reporters and no connection to the mother or the 9-year old, and we don't know why he entered their home," the sheriff said.He said both the mother and the surviving journalist were in hospital in critical condition.White House press secretary Karine Jean-Pierre posted a message of condolences on Twitter."Our hearts go out to the family of the journalist killed today and the crew member injured in Orange County, Florida, as well as the whole Spectrum News team," she said. (Reporting by Steve Gorman and Costas Pitas in Los Angeles; Editing by Eric Beech and Leslie Adler)By Steve Gorman \ No newline at end of file diff --git a/news/CHTR/2023.02.23/Florida journalist fatally shot at murder scene.txt b/news/CHTR/2023.02.23/Florida journalist fatally shot at murder scene.txt new file mode 100644 index 0000000000000000000000000000000000000000..ec50431a91b158936aee4550eae59d826fc22196 --- /dev/null +++ b/news/CHTR/2023.02.23/Florida journalist fatally shot at murder scene.txt @@ -0,0 +1 @@ +Mina added that the suspect, identified as Keith Melvin Moses and who has a lengthy arrest record, faces charges as well for wounding the girl's mother. The two journalists shot in Pine Hills, a suburb of Orlando, were a reporter and a photographer for central Florida cable TV outlet Spectrum News 13, which is owned by Charter Communications.According to Mina, the attack on them late afternoon took place close to the time the girl and her mother were shot, inside their home nearby, while the woman in her 20s was shot in a vehicle hours earlier. Mina said no motive had been determined for any of the shootings, but said Moses was believed to be an acquaintance of the first victim.The sheriff said he did not know whether the two newsmen were targeted because they were journalists or why the suspect entered the home of the woman and her nine-year-old daughter. \ No newline at end of file diff --git "a/news/CMCSA/2023.01.03/Xfinity Introduces \342\200\234free This : Unlocks Access to Premium Networks and Streaming Se...txt" "b/news/CMCSA/2023.01.03/Xfinity Introduces \342\200\234free This : Unlocks Access to Premium Networks and Streaming Se...txt" new file mode 100644 index 0000000000000000000000000000000000000000..5278313063b5091dda46afae2ce76d97148f85a8 --- /dev/null +++ "b/news/CMCSA/2023.01.03/Xfinity Introduces \342\200\234free This : Unlocks Access to Premium Networks and Streaming Se...txt" @@ -0,0 +1,14 @@ + +Comcast today announced, “Free This Week,” a new year-long program that will deliver Xfinity customers more value by unlocking a new selection of free content each week from top streaming services and premium networks, no strings attached. “Free This Week” programming will be available for Xfinity customers and curated into one simple to navigate destination available on X1 and Flex. A selection of “Free This Week” programming will also be available on the Xfinity Stream app and Xumo’s XClass TV. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230103005149/en/Xfinity Introduces "Free This Week" (Photo: Business Wire) +“Free This Week” comes ten years after Xfinity’s inaugural free content sampling, Watchathon Week, and represents an evolution of the company’s free programming strategy providing customers with something free to watch, every week of the year. New data released by Xfinity shows viewership typically doubles during the time a network or streaming service participates in a content sampling such as “Free This Week.” + +"At Xfinity, we strive to deliver the best entertainment experience to our customers and make it easy for them to access all the programming they subscribe to, and also discover new programming that might be of interest to them,” said Sophia Ahmad, EVP and CMO, Comcast Cable. “With Free This Week, we are offering customers a no-strings-attached chance to discover something new every week of the year, building on the great success previously established with events like Watchathon Week and Free TV Week.” + +Helping ensure customers start the new year on the right foot, the first two weeks of “Free This Week” will feature free access to top wellness apps such as The Great Courses, Gaia, One Day University, Gaiam TV, Sweat Factor and FitFusion by Jillian Michaels. Future participating networks and streaming services include HBO Max, SHOWTIME®, REVOLT, HISTORY Vault, Lifetime Movie Club and more. + +To access “Free This Week” programming and look ahead to what content is going to be unlocked in future weeks, customers can simply say “Free This Week” into their voice remote. + +About Comcast Corporation +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005149/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.01.04/MarketScreener's World Press Review: January 4, 2023.txt b/news/CMCSA/2023.01.04/MarketScreener's World Press Review: January 4, 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..d7ba5c5a1ae41a709760e9833b1c8c801388f8da --- /dev/null +++ b/news/CMCSA/2023.01.04/MarketScreener's World Press Review: January 4, 2023.txt @@ -0,0 +1,13 @@ + +Arm (SoftBank), H20, Apple, Disney, Warner Bros Discovery, Paramount, NBCUniversal (Comcast), Blackstone, Amazon, Rivian Automotive, Southwest Airlines, Exxon, Chevron, 3M Co, Chewy, C.H. Robinson, LG Electronics & Magna feature in this press review! + + + + +  + +  +  +  +  +  diff --git a/news/CMCSA/2023.01.05/Xumo Enterprise Unveils Expanded Suite of Solutions for Building, Managing and Monetizi...txt b/news/CMCSA/2023.01.05/Xumo Enterprise Unveils Expanded Suite of Solutions for Building, Managing and Monetizi...txt new file mode 100644 index 0000000000000000000000000000000000000000..a269fa1db9a6c0e657827e8432e69f5ba19afe25 --- /dev/null +++ b/news/CMCSA/2023.01.05/Xumo Enterprise Unveils Expanded Suite of Solutions for Building, Managing and Monetizi...txt @@ -0,0 +1,15 @@ + +Xumo Enterprise, the business-to-business arm of the new streaming platform joint venture between Comcast and Charter, provides the industry with tools and services to make free ad-supported streaming TV (FAST) more accessible. Today, it announced a new suite of software and technology solutions providing content owners, advertisers, and streaming platforms more ways to program, manage and monetize a customized streaming solution that can scale up or down to meet their unique needs and business goals. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230105005626/en/Xumo Enterprise Unveils Expanded Suite of Solutions for Building, Managing and Monetizing Fast Channels and Services (Graphic: Business Wire) +“As more streamers look to supplement their subscription services with free programming, FAST services are becoming an increasingly popular way for content owners and advertisers to reach new viewers,” said Stefan Van Engen, Vice President of Content Acquisition and Programming, Xumo. “Since 2016 we have powered many of the leading FAST channels and services globally, and today’s announcement provides the growing industry with even more tools to maximize an existing FAST offering or create a new one.” + +As part of the new solution suite, Xumo Enterprise is now offering content owners the ability to manage their own FAST channels within its reimagined content management system (CMS) designed to make channel management for the emerging FAST business simple and intuitive. The PGA TOUR is the first content partner to utilize Xumo Enterprise’s CMS to manage its FAST channel across available platforms. Capabilities of the CMS include building a programming schedule, managing ad loads, and gaining viewing and engagement insights. + +“Our FAST channel has seen rapid growth over the past year – we’ve added more programming from our archives, expanded to new platforms and increased overall engagement,” said Tom Jeffs, Vice President of Media Business Development, PGA TOUR. “Xumo Enterprise’s CMS solution has been a great asset for us, giving us a simple way to nimbly program and manage our FAST channel as an extension of our broader storytelling efforts.” + +Xumo Enterprise’s CMS offering enhances and extends the company’s existing enterprise solutions, which saw unprecedented growth in 2022 as FAST adoption within the industry soared. The company delivered 65% more streaming hours to its enterprise customers in 2022 than it did the year prior. Xumo Enterprise’s existing suite of software and technology solutions include: + +About Xumo + +Xumo, a joint venture between Comcast and Charter, was formed to develop and offer a next-generation streaming platform on a variety of branded 4K streaming devices and smart TVs. Powered by Comcast’s global technology platform, Xumo devices and services feature an entertainment experience designed to make it easy for consumers to find and enjoy their favorite streaming content through a world-class user interface and voice search, and for partners to meaningfully connect and engage with millions of consumers. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230105005626/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.01.05/Xumo Expands Smart TV Portfolio With Element Line of 4K Ultra HD TVs In 2023.txt b/news/CMCSA/2023.01.05/Xumo Expands Smart TV Portfolio With Element Line of 4K Ultra HD TVs In 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..193ce6c2c871e0ed1c19356852fb5597fd4acb9b --- /dev/null +++ b/news/CMCSA/2023.01.05/Xumo Expands Smart TV Portfolio With Element Line of 4K Ultra HD TVs In 2023.txt @@ -0,0 +1,21 @@ + +Xumo and Element Electronics today announced plans to launch a new line of 4K Ultra HD smart TVs, across the U.S. in 2023. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230105005638/en/New Element Xumo TVs Will Feature Simple and Smart Discovery, Voice Navigation, and Hundreds of Built-in Apps (Photo: Business Wire) +Xumo, a streaming platform joint venture between Comcast and Charter (NASDAQ: CHTR), was formed to develop and offer a next-generation streaming platform on a variety of branded 4K streaming devices and smart TVs. The new Element Xumo TVs will offer consumers an affordable and innovative smart TV with an integrated interface and voice remote to access their favorite live and on-demand streaming content from hundreds of apps and services. + +“Element is proud to partner with Xumo to bring an advanced streaming platform to market and offer another smart TV solution to our customers and consumers,” said Vlad Kazhdan, President, Element Electronics. “We look forward to building our brand partnership and providing consumers access to amazing technology and content at an incredible value.” + +“Element and Xumo share a common vision of delivering consumers premium, innovative entertainment experiences at a tremendous value,” said Marcien Jenckes, President, Xumo. “With the addition of Element to the lineup of Xumo-powered streaming devices and smart TVs later this year, we will provide consumers across the country another great, affordable way to enjoy all their favorite entertainment within our award-winning experience.” + +Element Xumo TVs will be built on and powered by Comcast’s flexible and scalable global technology platform, which currently powers tens of millions of entertainment devices. The smart TVs will join a growing portfolio of products soon to be made available under the new Xumo brand, including XClass TV and Flex, a 4K streaming device Xfinity offers to its broadband customers. + +Element Xumo TVs will launch in select U.S. retail locations in a range of sizes and price points later in 2023. + +About Xumo + +Xumo, a joint venture between Comcast and Charter, was formed to develop and offer a next-generation streaming platform on a variety of branded 4K streaming devices and smart TVs. Powered by Comcast’s global technology platform, Xumo devices and services feature an entertainment experience designed to make it easy for consumers to find and enjoy their favorite streaming content through a world-class user interface and voice search, and for partners to meaningfully connect and engage with millions of consumers. + +About Element Electronics + +Element Electronics, founded in 2007, started with a simple belief that every home should have access to televisions with the latest technology. In 2014, Element became the only major television company to assemble products in the U.S. at its Winnsboro, South Carolina factory. Element has expanded its portfolio beyond TVs to consumer electronics, home appliances and more, and continues to offer high-technology products, at the most accessible prices while providing first-class, comprehensive customer service. For more information, visit ElementElectronics.com. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230105005638/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.01.06/Comcast Promotes Jason S. Armstrong to Chief Financial Officer.txt b/news/CMCSA/2023.01.06/Comcast Promotes Jason S. Armstrong to Chief Financial Officer.txt new file mode 100644 index 0000000000000000000000000000000000000000..00790f4e0afec0f65ccea0748d47b8c8326a70de --- /dev/null +++ b/news/CMCSA/2023.01.06/Comcast Promotes Jason S. Armstrong to Chief Financial Officer.txt @@ -0,0 +1,12 @@ + +Comcast Corporation today announced Jason S. Armstrong has been promoted to Chief Financial Officer. Armstrong elevates to the position after serving nine years in several financial leadership positions at Comcast, including most recently as Deputy CFO and Treasurer. He succeeds Mike Cavanagh who was named President of the company in October. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230106005041/en/Jason Armstrong, Chief Financial Officer, Comcast Corporation (Photo: Comcast Corporation) +“Jason is ideally suited to be our next Chief Financial Officer,” said Cavanagh. “He is a trusted voice in the financial community, has a great understanding of our company, and is well respected by our management team. Jason is already playing a pivotal role in shaping our long-term strategy and I couldn’t be more excited to partner with him going forward.” + +As Deputy CFO, Armstrong oversaw the Treasury and finance functions at Comcast and managed the corporation’s capital formation, capital allocation, credit-related matters, and investment management activities, working closely with the management teams across Comcast Cable, NBCUniversal, and Sky. Before that, he served as Treasurer of Comcast, as Chief Financial Officer at Sky, and as head of Investor Relations and Finance at Comcast. Prior to joining Comcast in 2014, Armstrong spent 13 years at Goldman Sachs where he served as Managing Director and leader of the firm’s Cable and Telecommunications Research Group. He earned a B.S. degree in Economics from Duke University. + +“I’m incredibly honored to have this role and to work alongside Brian and Mike and this exceptional team,” Armstrong said. “Comcast’s leadership, culture, strong financial position and commitment to innovation and growth attracted me here nearly a decade ago and continue to drive my excitement about the opportunities ahead of us.” + +About Comcast Corporation +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230106005041/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.01.09/MarketScreener's World Press Review: January 9 .txt b/news/CMCSA/2023.01.09/MarketScreener's World Press Review: January 9 .txt new file mode 100644 index 0000000000000000000000000000000000000000..a18daa60dbe71ccbe5d0e47a40fb24915a0465db --- /dev/null +++ b/news/CMCSA/2023.01.09/MarketScreener's World Press Review: January 9 .txt @@ -0,0 +1,12 @@ + +Softbank, Hargreaves Lansdown, Walt Disney, Goldman Sachs, Deere & Co, Eisai & Biogen, Tesla, Amazon, Apple, Alphabet and Meta, General Electric & GE healthcare, Johnson & Johnson, Baxter, Novartis, Carnival, Royal Caribbean, Norwegian Cruise, Comcast, Adobe, Rakuten and SK Bioscience feature in this press review! + + + + +  +  + +  +  +  diff --git a/news/CMCSA/2023.01.09/Tarnished Golden Globes aim to regain role as Hollywood's 'party of the year'.txt b/news/CMCSA/2023.01.09/Tarnished Golden Globes aim to regain role as Hollywood's 'party of the year'.txt new file mode 100644 index 0000000000000000000000000000000000000000..a683179fa251c175fa6e9a46b99d7c0f16e972f0 --- /dev/null +++ b/news/CMCSA/2023.01.09/Tarnished Golden Globes aim to regain role as Hollywood's 'party of the year'.txt @@ -0,0 +1 @@ +Most of this year's nominees are expected to attend the red-carpet ceremony in Beverly Hills on Tuesday, said Helen Hoehne, president of the Hollywood Foreign Press Association, the group that hands out the Globes. "We've gotten a really great response from the nominees," said Hoehne, a German journalist elected in late 2021 to lead the group through diversity and ethics scandals. "We have very few not coming, so we are thrilled." She vowed the night would be "the party of the year."Now in their 80th year, the Globes had been known as a festive, alcohol-fueled ceremony that kicked off Hollywood's awards season and helped propel nominees and winners in their quest for Academy Awards.The future of the Globes was thrown into doubt after a 2021 Los Angeles Times investigation revealed the organization had no Black journalists in its ranks. Some members were accused of making sexist and racist remarks and soliciting favors from celebrities and movie studios. Longtime broadcaster NBC dropped the 2022 telecast, but the Comcast Corp network agreed to air the ceremony again this year after the HFPA instituted changes and new ethics rules. Among roughly 200 current voters, nearly 52% are racially and ethnically diverse, including 10% who are Black."The organization really went through a total reform process in the last 18 months," Hoehne said. "We increased diversity, transparency, accountability."The lineup for Tuesday shows Hollywood appears ready to give the HFPA a shot at redemption.Comedian Jerrod Carmichael, who is Black, will host the three-hour ceremony, while Eddie Murphy will receive a lifetime achievement honor. Director Quentin Tarantino and actor Jamie Lee Curtis are listed among presenters.SOME STARS MAY PASSNominees expected to attend include Pitt and his "Babylon" co-star Margot Robbie, Spielberg and cast from his coming-of-age film "The Fabelmans," "The Woman King" star Viola Davis, "Avatar" director James Cameron and singer Rihanna, a nominee for a song from "Black Panther: Wakanda Forever."Some celebrities will stay away. Brendan Fraser, nominated for his leading role in "The Whale," has said he will not attend after accusing a former HFPA president of groping him. Tom Cruise is not expected to appear even though his blockbuster movie "Top Gun: Maverick" is nominated for best drama film. Cruise returned his three Globe statues in protest of the organization's practices in 2021.Chris Beachum, managing editor at awards website Gold Derby, said producers likely will stage a lively show, but there is a risk that some of the winners might skip the ceremony."It's a matter of how many people are getting their name called and not going on stage because they're not there. That's more of a an issue," he said.Cameron's "Avatar: The Way of Water" and Baz Luhrmann's "Elvis" biopic are among the contenders for best drama film. Dark comedy "The Banshees of Inisherin" leads all movies with eight nominations, and "Abbott Elementary" tops the field of TV contenders.Even with the recent controversy, Beachum believes most actors, studios and publicists would be happy to have a Globe honor to tout as they head toward the Oscars in March. "You want to be winning awards in this period of December, January and February," Beachum said. "You hardly ever see somebody go through an entire cycle, losing most everywhere and then winning the Oscar. It just doesn't happen." (Reporting by Lisa Richwine in Los Angeles; Editing by Mary Milliken and Sandra Maler)By Lisa Richwine \ No newline at end of file diff --git a/news/CMCSA/2023.01.10/'Elvis' and 'Avatar' face off as Hollywood returns to Golden Globes.txt b/news/CMCSA/2023.01.10/'Elvis' and 'Avatar' face off as Hollywood returns to Golden Globes.txt new file mode 100644 index 0000000000000000000000000000000000000000..05caeda700b9b90c680cc1fd819e6d8e7005edf7 --- /dev/null +++ b/news/CMCSA/2023.01.10/'Elvis' and 'Avatar' face off as Hollywood returns to Golden Globes.txt @@ -0,0 +1 @@ +The Golden Globes will be back on television after celebrities and broadcaster NBC abandoned the 2022 show because of ethical lapses at the Hollywood Foreign Press Association (HFPA), the group that hands out the awards.A larger and more diverse membership and other changes by the HFPA convinced many of the biggest movie and TV stars to support this year's ceremony, which provides publicity for winners and nominees and often boosts their chances at the Oscars.Big names expected to walk the red carpet include Brad Pitt, Margot Robbie and Viola Davis, directors James Cameron and Steven Spielberg, and "Elvis" star Austin Butler, a favorite for a best actor trophy."I think we're going to see 'Elvis' win and Austin Butler win," said Chris Beachum, managing editor of awards website Gold Derby. Golden Globes voters "have proven time and time again that they love spectacles and they love musicals."The ceremony will air live on Comcast's NBC broadcast channel and stream on Peacock starting at 8 p.m. ET/5 p.m. PT."Elvis" is in the running for top drama film against "The Way of Water," the long-awaited "Avatar" sequel that is lighting up movie box offices; Steven Spielberg's coming-of-age film "The Fabelmans" and Tar, starring Cate Blanchett as a conniving orchestra conductor."Top Gun: Maverick" also is in the mix, though its chances were likely hurt by star Tom Cruise returning his Globe statues in protest in 2021, Beachum said. Cruise was reacting to a Los Angeles Times investigation that revealed the HFPA had no Black journalists in its ranks and accused members of soliciting favors from celebrities and movie studios. He is not expected to attend Tuesday's show. "The Banshees of Inisherin," which has more nominations than any other movie, is seen as the leading contender for best comedy or musical film.Comedian Jerrod Carmichael will host the three-hour ceremony, while Eddie Murphy will receive a lifetime achievement honor. Director Quentin Tarantino and actor Jamie Lee Curtis are listed among presenters.Actor Sean Penn also will introduce a video message from President Volodymyr Zelenskiy of Ukraine.In TV categories, "Abbott Elementary" racked up the most nominations and is considered a leader for best comedy.Roughly 200 journalists and others from the international film industry voted on this year's Globes. Among those voters, nearly 52% are racially and ethnically diverse, including 10% who are Black, according to the HFPA. (Reporting by Lisa Richwine; Editing by Mary Milliken and Cynthia Osterman)By Lisa Richwine \ No newline at end of file diff --git a/news/CMCSA/2023.01.11/Golden Globes audience shrinks from last show in 2021.txt b/news/CMCSA/2023.01.11/Golden Globes audience shrinks from last show in 2021.txt new file mode 100644 index 0000000000000000000000000000000000000000..bc57b4faa7908b6efc7f754a0f96d8036c696810 --- /dev/null +++ b/news/CMCSA/2023.01.11/Golden Globes audience shrinks from last show in 2021.txt @@ -0,0 +1 @@ +In 2021, 6.9 million people tuned in to the Hollywood awards ceremony. The Globes were not televised in 2022 because of a diversity and ethics scandal at the Hollywood Foreign Press Association, the group that votes on the winners. The NBC viewership figures for Tuesday night's ceremony do not include people who watched on the Peacock streaming service.All of Hollywood's major awards shows have seen their ratings sink in recent years, along with most viewership on traditional television. Back in January 2020, the Globes attracted 18.3 million TV viewers. The 2021 show was hampered by COVID-19 restrictions that forced many nominees to appear via video.NBC agreed to air the 2023 ceremony under a one-year contract after HFPA diversified its membership, which had no Black journalists in 2021, and made other changes.Major Hollywood stars turned out as Steven Spielberg's semi-autobiographical tale "The Fabelmans" and dark comedy "The Banshees of Inisherin" won top awards.The show received mixed reviews from TV critics. Some praised the loose and alcohol-fueled atmosphere that has become a hallmark of the Globes. Several winners acknowledged they had been drinking."The speeches were stem-winding and often strange, and the sense of occasion was alternatingly grave and buoyant in that perfect Globes way," wrote Daniel D'Addario of Variety.Others said the Globes failed to justify their existence."We were better off without them," said Kelly Lawler of USA Today."At a time when ratings for awards shows are crumbling, when the TV and film industries are going through major upheaval and when diversity and inclusion efforts in Hollywood are nowhere near accomplishing their goals, the Globes no longer feel as if they have a place," Lawler added. (Reporting by Lisa RichwineEditing by Alistair Bell)By Lisa Richwine \ No newline at end of file diff --git a/news/CMCSA/2023.01.11/NBC News President Noah Oppenheim to depart.txt b/news/CMCSA/2023.01.11/NBC News President Noah Oppenheim to depart.txt new file mode 100644 index 0000000000000000000000000000000000000000..d1ac7f3187f31d2379bdde5ca5fa0368eca574aa --- /dev/null +++ b/news/CMCSA/2023.01.11/NBC News President Noah Oppenheim to depart.txt @@ -0,0 +1 @@ +The division, part of Comcast's NBCUniversal, appointed senior New York Times editor Rebecca Blumenstein to the new position of president, editorial, while Libby Leist was promoted to executive vice president, TODAY and Lifestyle and Janelle Rodriguez will take on the role of executive vice president at the NBC News NOW streaming network. (Reporting by Eva Mathews in Bengaluru; Editing by Maju Samuel) \ No newline at end of file diff --git a/news/CMCSA/2023.01.12/Disney braces for boardroom battle.txt b/news/CMCSA/2023.01.12/Disney braces for boardroom battle.txt new file mode 100644 index 0000000000000000000000000000000000000000..db34674797a870db2c62af017fa6324315ebd301 --- /dev/null +++ b/news/CMCSA/2023.01.12/Disney braces for boardroom battle.txt @@ -0,0 +1 @@ +This comes after company veteran Bob Iger returned to the helm at the Marvel-parent to help a push for profitability at its streaming business, Disney+.Peltz's Trian Fund, after Third Point's Daniel Loeb, have pushed the company to make changes after the pandemic crushed its parks business and forced it to increase expenditure to weed out competition in the streaming industry.Here is what happened since Iger retired in 2020: Event Date Feb. 25, Iger retires after 15 years as CEO, handing the 2020 reins to Disney Parks head Bob Chapek; Iger assumes post of executive chairman Sept. 29, Disney says it will lay off about 28,000 parks 2020 unit employees due to coronavirus hit Oct. 7, Activist investor Daniel Loeb urges Disney to 2020 forgo paying a dividend and use the cash to make and buy more programming for Disney+ Oct. 12, Disney restructures its media and entertainment 2020 businesses to accelerate growth of Disney+ Feb. 28, Disney pauses film releases in Russia over 2022 Ukraine invasion March 4, Disney says it will offer a cheaper, 2022 ad-supported version of Disney+ March 10, Disney pauses all business in Russia 2022 May 16, Third Point liquidates its position in Disney 2022 during the first quarter, two years after the hedge fund first invested and began urging the media company to spend more aggressively on its streaming platform May 16, Florida Governor Ron DeSantis says he wants the 2022 state to take control of Disney's special district when it is scheduled to be dissolved in June 2023 June 9, Chief Executive Bob Chapek announces a major 2022 leadership shift, promoting Dana Walden to chairman of general entertainment content June 28, Disney board unanimously votes to extend Chief 2022 Executive Officer Bob Chapek's contract for three years Aug. 15, Third Point discloses a stake of roughly $1 2022 billion and said it plans to push the media company to make a string of changes Sept. 11, Third Point's Daniel Loeb backs off from 2022 pushing Walt Disney Co to spin off ESPN Sept. 14, Comcast Corp Chief Executive Brian Roberts 2022 signals to Disney the company will seek market value for its minority stake in Hulu Sept. 30, Disney announces a truce with activist investor 2022 Third Point, saying it would appoint tech and media veteran Carolyn Everson to the board Nov. 8, Disney reports higher streaming customers, but 2022 high costs disappoint investors Nov. 11, The company plans to freeze hiring and cut some 2022 jobs, according to a memo seen by Reuters Nov. 21, Bob Iger returned to Disney as chief executive 2022 less than a year after he retired, in a surprise comeback Nov. 28, Iger says one of his top priorities was to make 2022 the company's streaming business profitable Dec. 8, The ad-supported version of the Disney+ service 2022 launches, attracting major advertisers from different sectors Jan. 12, Activist investor Nelson Peltz formally 2023 launches a battle for board seat at Disney (Reporting by Akash Sriram and Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/CMCSA/2023.01.13/Comcast Opens Free Xfinity WiFi Hotspot Network to Support Northern California During S...txt b/news/CMCSA/2023.01.13/Comcast Opens Free Xfinity WiFi Hotspot Network to Support Northern California During S...txt new file mode 100644 index 0000000000000000000000000000000000000000..e57659567ca4e04894b78e0c9f942add2dd5066e --- /dev/null +++ b/news/CMCSA/2023.01.13/Comcast Opens Free Xfinity WiFi Hotspot Network to Support Northern California During S...txt @@ -0,0 +1 @@ +(via NewsDirect)Livermore, Calif., January 13, 2023— To help residents and emergency personnel stay connected during the recent historic rainstorms, Comcast’s network of nearly 147,000 public Xfinity WiFi hotspots throughout Northern and Central California are now available and free for anyone to use, including non-Xfinity customers.How to Get ConnectedFor a map of public Xfinity WiFi hotspots, which are located both indoors and outdoors in places such as shopping districts, parks, and businesses, visit Xfinity.com/wifi.When a hotspot is within range, select the “xfinitywifi” network on a device’s list of available networks and launch a browser. Sign-in options will appear for both Xfinity customers and non-customers.Xfinity Internet customers can sign in with their account credentials and they will be automatically connected to Xfinity WiFi hotspots in their range in the future. Alternatively, they can download the Xfinity WiFi Hotspots app and sign in with their account credentials.Non-Xfinity Internet subscribers need to look for the “Get Connected” section and agree to the Terms and Conditions to be connected. Non-customers will be able to renew their complimentary sessions every 2 hours.**Please note that if a user does not see the “Accept and Connect” button, the hotspot he or she is trying to connect to is in an Xfinity customer’s home and isnotopen to the public.There are also a few simple, easy things customers can do now to prepare and stay connected, even in bad weather. They can start by downloading Comcast’s free mobile apps:Comcast may also send text alerts to customers with information about service interruptions or with tips for restoring their services. Customers can log in to the Xfinity App to make sure their mobile phone numbers are added.Here are a few additional helpful tips and safety precautions:Tips for Comcast Business customers:Comcast is committed to helping customers stay connected to what’s most important to them — all year round.For more information, customers can chat online with an agent, visit Xfinity.com/response or connect with Comcast on Twitter at @xfinitysupport.About Comcast CorporationComcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information.ComcastJon Koriel+1 925-315-2690jon_koriel@comcast.comCopyright (c) 2023 TheNewswire - All rights reserved.Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases \ No newline at end of file diff --git a/news/CMCSA/2023.01.17/Disney says Peltz 'lacks skills' to help business as proxy battle heats up.txt b/news/CMCSA/2023.01.17/Disney says Peltz 'lacks skills' to help business as proxy battle heats up.txt new file mode 100644 index 0000000000000000000000000000000000000000..1f94789504bc2509248d9ba6f78076084a2cfbd1 --- /dev/null +++ b/news/CMCSA/2023.01.17/Disney says Peltz 'lacks skills' to help business as proxy battle heats up.txt @@ -0,0 +1,70 @@ +LOS ANGELES, Jan 17 (Reuters) - Walt Disney Co +on Tuesday defended its decision to deny Nelson Peltz a board +seat, saying the activist investor "lacked the skills and +experience" to help the media and entertainment giant.The house of Mickey Mouse in a letter to shareholders also +underlined the company's successes under Chief Executive Bob +Iger, who recently returned from retirement to lead the company +for a second time."Peltz does not understand Disney's businesses and lacks the +skills and experience to assist the board in delivering +shareholder value in a rapidly shifting media ecosystem," Disney +said.The billionaire last week formally launched his bid for a +board seat to rescue the company from what he called a "crisis" +of overspending on the streaming business, the purchase of 21st +Century Fox and failed succession planning.Peltz had an internal advocate, Marvel Entertainment +Chairman Isaac "Ike" Perlmutter, who asked that the activist +investor be added to Disney's board on a half-dozen occasions, +according to Disney's preliminary proxy statement and +accompanying materials filed with regulators. Perlmutter has +been pressing the issue since July 2022, contacting former CEO +Bob Chapek, director Safra Catz and other senior executives on +behalf of Peltz.Peltz's move is seen as a serious challenge to Iger and pits +one of the most popular executives in Hollywood against the +activist investor known for his work at consumer firms.The billionaire investor told CNBC last week that Disney +should buy the remaining stake in Hulu it does not already own +or exit the streaming business. Disney has an agreement to +acquire Comcast Corp's one-third interest in the Hulu +streaming service as soon as January 2024.Disney also needs to boost capital expenditure at its parks +business, where it probably raised ticket prices "too hard," he +said then.DISNEY HITS BACKIn its filing Tuesday, Disney said it was already working to +improve profitability at the Disney+ streaming business that +Iger helped launch in 2019 and was rolling out broader +cost-cutting measures.The company defended the acquisitions it made under the +since-returned CEO Iger, including for Pixar, Marvel and +Lucasfilm. It said they were transformative and enhanced the +company’s value.As early as July 11, 2022, Disney had been engaging in +conversations with Peltz, according to the preliminary proxy +filed on Tuesday with the U.S. Securities and Exchange +Commission. The activist expressed his support for then-CEO +Chapek, and presented himself as someone who could be helpful if +he joined the board.Perlmutter, a Disney employee and shareholder, added his +voice to Peltz's campaign to join the board, arguing at one +point that the activist could help the embattled Chapek +"solidify his position as CEO." Without Peltz's help, the Marvel +chairman warned, "former executives including Mr. Iger, would be +back at Disney."As Peltz and Perlmutter continued to press their case, +another activist was pounding on Disney's door - Daniel Loeb, +chief executive officer of Third Point. In August, Loeb +contacted Chapek and Chief Financial Officer Christine McCarthy +to say he had invested in Disney and recommended changes. He +agreed to a standstill with the Sept. 23 appointment of an +independent director, Carolyn Everson.Meanwhile, Peltz's campaign for a board seat intensified. He +notified Chapek on Nov. 8 that he had acquired $500 million in +Disney stock, and planned to increase his stake to $1 billion. +Peltz said his Trian group intended to nominate a sale of +directors at the 2023 annual meeting unless he was named to the +board.The activist continued to seek a directorship even after the +board fired Chapek on Nov. 20 and brought back Iger. In a video +call three days later, Peltz rejected Iger and McCarthy's +suggestion that they find a mutually acceptable independent +director to serve on the board. Peltz said he would accept only +the addition of himself to the board, according to Disney's +account.Disney's board elected not to offer Peltz a seat, citing +concerns about "introducing further disruption to Disney's +management team nine days into Mr. Iger's return."On Jan. 11, Peltz took matters into his own hands. His Trian +Fund Management issued a news release announcing its nominee to +the board, Peltz, setting in motion the proxy battle.Trian Fund Management, which owns a 0.5% stake, or roughly +$900 million in Disney, declined to comment on Tuesday.Unless Peltz settles with Disney, investors will vote this +year on whether he should sit on the company's board. Last year, +the annual shareholder meeting was held on March 9.(Reporting by Dawn Chmielewski in Los Angeles and Eva Mathews +and Aditya Soni in Bengaluru +Editing by Shinjini Ganguli and Matthew Lewis) \ No newline at end of file diff --git a/news/CMCSA/2023.01.17/Disney slams Peltz as boardroom battle heats up.txt b/news/CMCSA/2023.01.17/Disney slams Peltz as boardroom battle heats up.txt new file mode 100644 index 0000000000000000000000000000000000000000..7ded1fe70ee99d3c75fbfae43238fa239d0bf892 --- /dev/null +++ b/news/CMCSA/2023.01.17/Disney slams Peltz as boardroom battle heats up.txt @@ -0,0 +1 @@ +The entertainment giant slammed Peltz on Tuesday in a letter to shareholders, defending its decision to deny him a board seat by saying he "lacked the skills and experience" to help the media and entertainment giant.The searing comments came after Peltz last week formally launched a fight for a board seat to rescue Disney from what he called a "crisis" of overspending on its Disney+ streaming business, its purchase of 21st Century Fox and failed succession planning.The billionaire's move pits Peltz against Iger, one of the most popular executives in Hollywood - who recently returned from retirement to lead Disney for a second time.Peltz told CNBC last week that Disney should either get out of the streaming business or buy the rest of rival service Hulu. Disney has a majority stake in Hulu; Comcast owns the rest.In its statement on Tuesday, Disney said it was already working to improve profitability at Disney+ and that it was rolling out broader cost-cutting measures.Peltz's Trian Fund Management, which owns a .5% stake, or roughly $900 million in Disney, declined to comment.Unless Peltz settles with Disney, investors will vote this year on whether he should sit on the company's board. \ No newline at end of file diff --git a/news/CMCSA/2023.01.17/Telemundo acquires US Soccer's Spanish-language TV rights.txt b/news/CMCSA/2023.01.17/Telemundo acquires US Soccer's Spanish-language TV rights.txt new file mode 100644 index 0000000000000000000000000000000000000000..072869d7af37cfcc130939829988a596582eb8d2 --- /dev/null +++ b/news/CMCSA/2023.01.17/Telemundo acquires US Soccer's Spanish-language TV rights.txt @@ -0,0 +1 @@ +CHICAGO (AP) — The U.S. Soccer Federation is switching its Spanish-language U.S. broadcasts to Telemundo from Univision.The USSF said Tuesday the agreement with Telemundo, a division of Comcast Corp.'s NBC Universal, runs through 2026. The first telecast will be the U.S. women's exhibition at New Zealand on Wednesday (10 p.m. EST Tuesday) and all matches also will be streamed on Peacock.English-language rights starting this year are held by Turner Sports, a division of WarnerMedia under an agreement announced last March. The New Zealand match is being streamed by HBOMax with English-language commentary rather than an over-the-air or cable broadcast. That also is the plan for Turner's first men's national team match under the agreement, a friendly against Serbia on Jan. 25.ESPN and Fox had shared English-language rights from 2014 through last year, and TelevisaUnivision had held Spanish-language rights.Fox and Telemundo hold U.S. rights to this year's Women's World Cup and the 2026 men's World Cup, Fox owns English-language U.S. rights to this year's CONCACAF Gold Cup and CONCACAF said last year that TelevisaUnivision acquired Spanish-language U.S. rights.___More AP sports: https://apnews.com/hub/apf-sports and https://twitter.com/AP_Sports© 2023 The Canadian Press. All rights reserved., source Canadian Press DataFile \ No newline at end of file diff --git a/news/CMCSA/2023.01.18/Comcast Names Melinda Little Vice President of Government and Regulatory Affairs.txt b/news/CMCSA/2023.01.18/Comcast Names Melinda Little Vice President of Government and Regulatory Affairs.txt new file mode 100644 index 0000000000000000000000000000000000000000..eea2888e6e7f6d4b5278658c9aa0a915118a628c --- /dev/null +++ b/news/CMCSA/2023.01.18/Comcast Names Melinda Little Vice President of Government and Regulatory Affairs.txt @@ -0,0 +1,19 @@ + +Comcast announced today that Melinda Little has been named Vice President of Government and Regulatory Affairs for the company’s ‘Big South’ region. She will be based in Atlanta, and report to Jason Gumbs, Regional SVP for Comcast. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230118005160/en/Comcast Names Melinda Little Vice President of Government and Regulatory Affairs (Photo: Business Wire) +In her new role, she will lead a government affairs and community impact team focused on broadband expansions, franchising, digital equity, and community outreach across the southeast. + +“Melinda brings a long and impressive track record of strong leadership and innovation to her new role,” said Mr. Gumbs. “With her background and ability to create positive relationships in the community, I look forward to the immediate contribution I know she will make.” + +Ms. Little has seven years of cable industry experience. Most recently, she served as Vice President of Government Affairs at the company’s Central Division Headquarters in Atlanta. Prior to this, she was Senior Director of Government Affairs at Comcast in Houston. + +While in Houston, Ms. Little was appointed to serve on the Houston Public Library Foundation Board and the Montrose Tax Increment Reinvestment Zone 27/Montrose Redevelopment Board by the city’s Mayor, Sylvester Turner. She is also past Chairman of the Texas Cable Association. + +Ms. Little was honored in 2021 by the HEART Program with the ‘Making Change/ Changing Hearts’ Award and was named one of Houston Magazine’s 50 Most Influential Women in 2018. She is a graduate of the University of Houston. + +More information on Melinda Little can found here. + +About Comcast Corporation + +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on broadband, aggregation, and streaming with over 56 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, Peacock, NBC News, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit https://corporate.comcast.com for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005160/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.01.18/Sonoma County Fairgrounds Selects Comcast Business to Bolster Connectivity for Sonoma's...txt b/news/CMCSA/2023.01.18/Sonoma County Fairgrounds Selects Comcast Business to Bolster Connectivity for Sonoma's...txt new file mode 100644 index 0000000000000000000000000000000000000000..df1942760a7f215979b6198282052bfcc4a8946f --- /dev/null +++ b/news/CMCSA/2023.01.18/Sonoma County Fairgrounds Selects Comcast Business to Bolster Connectivity for Sonoma's...txt @@ -0,0 +1,29 @@ + +Comcast Business today announced that it has teamed with Celona Inc. to provide Sonoma County Fairgrounds – the home to the renowned Sonoma County Fair – with an advanced private wireless network solution to enhance the fair experience and help improve back-of-house operations across the fairgrounds. + +For more than 84 years, the Sonoma County Fair has grown to become one of the most popular in the state, famous for its top-quality horse racing, stunning flower show, and constant innovations in family entertainment. After experiencing slow connectivity that resulted in a poor vendor and customer experience, the fairgrounds recognized the need to upgrade its network to support the tens of thousands of people that flood the property each year. + +“We are very happy with the quality of service we’ve received and how quickly Comcast Business was able to install and deploy this private wireless network,” said Rebecca Bartling, CEO, Sonoma County Fairgrounds. “This state-of-the-art network will bolster our back-of-house operations, as well as our relationships with the vendors, who are critical to ensuring the annual, two-week long Sonoma County Fair is a success.” + +Enterprises, government agencies and venues of all types, can now benefit from private cellular networks for wireless performance demanded by today’s applications, while enabling them to support their rapidly expanding ecosystem of connected devices. + +Offering extended wireless coverage, enhanced broadband speeds and capacity along with increased reliability and low latency, private wireless networks satisfy application requirements. + +“Congested cellular and Wi-Fi networks are pain points for outdoor venues across the country,” said Brian Epstein, Head of Strategic Wireless Solutions, Comcast Business. “Private wireless network technologies provide a 'HOV lane' for the fairgrounds and dedicated spectrum for priority operations to ensure events like the Sonoma County Fair deliver a rich experience for patrons and vendors.” + +Working with Sonoma County Fairgrounds, Comcast Business designed and deployed a dedicated private cellular wireless network that coupled Comcast CBRS spectrum Priority Access Licenses (PALs) with Celona’s 5G LAN products and technology. + +Comcast Business partnered closely with Celona on the private wireless deployment, leveraging its enterprise 5G LAN system that fully integrates 4G/5G core software, outdoor CBRS access points, and cloud-based orchestration and management within a unified platform. The combination of these technologies allows for fast and simplified deployment of private cellular networks with improved monitoring and management of the overall infrastructure. + +The private wireless network was used to support back-of house operations for the fairgrounds, including point of sale (PoS) systems for ticket purchases, parking, concessions and more. This allowed the Fairgrounds to provide network reliability by using Comcast Business’s dedicated spectrum, while delivering the wireless connectivity and bandwidth required for each application. + +“We view private wireless technology as completely transformational for the enterprise,” said Rob Mustarde, VP of Worldwide Sales at Celona. “With 5G LANs, organizations can now bring deterministic wireless connectivity and performance to challenging use cases that conventional wireless was simply not designed to address within a familiar framework that directly adapts to their existing network investments.” + +About Comcast Business +Comcast Business offers a suite of Connectivity, Communications, Networking, Cybersecurity, Wireless, and Managed Solutions to help organizations of different sizes prepare for what’s next. Powered by the nation’s largest Gig-speed broadband network, and backed by 24/7 customer support, Comcast Business is the nation’s largest cable provider to small and mid-size businesses and one of the leading service providers to the Enterprise market. Comcast Business has been consistently recognized by industry analysts and associations as a leader and innovator, and one of the fastest growing providers of Ethernet services. + +For more information, call 866-429-3085. Follow on Twitter @ComcastBusiness and on other social media networks at http://business.comcast.com/social. + +About Comcast Corporation +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005167/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.01.19/Seattle-Based Wonderland Child & Family Services Expands Services for Families in Need ...txt b/news/CMCSA/2023.01.19/Seattle-Based Wonderland Child & Family Services Expands Services for Families in Need ...txt new file mode 100644 index 0000000000000000000000000000000000000000..7c23eeeabdbee49cf8cc911c1ef4632b09a09481 --- /dev/null +++ b/news/CMCSA/2023.01.19/Seattle-Based Wonderland Child & Family Services Expands Services for Families in Need ...txt @@ -0,0 +1 @@ +(via NewsDirect)Wonderland Child & Family Services (Wonderland) has announced that utilizing Comcast Business’ Internet with Security Edge™ and Connection Pro has helped them to expand their reach and services to more families in need. The nonprofit’s enhanced technological capabilities supported its timely expansion into telehealth during the COVID-19 pandemic, allowing the organization to offer virtual support groups, educational programming and therapy appointments to its clients. And, more recently, Wonderland has used its new solutions to permanently expand its offerings and opportunities for regular visits to clients who may not live nearby.“Partnering with Comcast Business has changed how we operate as a business. Pre-Comcast Business, we did not do remote work,” said Brigette Quichocho, partnerships manager at Wonderland. “Not only are we offering telehealth appointments, but we can also support remote outreach and fundraising events. Previously, we were able to reach maybe 10 people at a time via workplace giving events. Now we are seeing involvement from closer to 100 people during workplace giving activities.”Founded in 1969, Wonderland serves children with developmental delays, disabilities and prenatal substance exposure. Families of any income, insurance or ability to pay can benefit from the nonprofit’s services, which include occupational and physical therapy, speech-language pathology, special education, mental health support, educational advocacy and family resources support. It is also the only clinic in the state of Washington that offers diagnostic and intervention services for children with prenatal substance exposure.When COVID-19 first hit, Wonderland knew it would need to continue to provide its critical services despite the operational challenges brought on by the pandemic. The nonprofit partnered with Comcast Business to successfully upgrade its existing network, which experienced a rapid increase in demand due to the transition to remote work. While the pandemic initiated the clinic’s transition to virtual offerings, the realization that patients were able to secure support on their own time, in the comfort of their own homes, inspired a more permanent transition to hybrid operations.Longer term, Wonderland aims to increase the ways in which it uses its Comcast Business solutions to help current and future patients. Recently, the organization kicked off a webinar series designed to raise awareness among doctors and potential clients who would benefit from the clinic’s services.“Wonderland is the perfect example of how businesses of all kinds can use technology not just to maintain a business, but to take it to the next level by solving for unique problems with tailored technology solutions,” said Rob Brenner, vice president of Comcast Business for Comcast’s Pacific Northwest Region. “Comcast has a strong culture of support ingrained in its operations, so we are proud to support Wonderland in its mission to provide opportunities to families with diverse needs.”About Comcast BusinessComcast Business offers a suite of Connectivity, Communications, Networking, Cybersecurity, Wireless, and Managed Solutions to help organizations of different sizes prepare for what’s next. Powered by the nation’s largest Gig-speed broadband network, and backed by 24/7 customer support, Comcast Business is the nation’s largest cable provider to small and mid-size businesses and one of the leading service providers to the Enterprise market. Comcast Business has been consistently recognized by industry analysts and associations as a leader and innovator, and one of the fastest growing providers of Ethernet services. For more information, call 866-429-3085. Follow on Twitter @ComcastBusiness and on other social media networks at http://business.comcast.com/social.ComcastJack Follmanjack_follman@comcast.comhttps://washington.comcast.com/Copyright (c) 2023 TheNewswire - All rights reserved.Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases \ No newline at end of file diff --git a/news/CMCSA/2023.01.23/Comcast Brings Fiber-Rich Network to More Than 2,600 Homes and Businesses in Plainfield.txt b/news/CMCSA/2023.01.23/Comcast Brings Fiber-Rich Network to More Than 2,600 Homes and Businesses in Plainfield.txt new file mode 100644 index 0000000000000000000000000000000000000000..639525ed08b05a186377ca02a4a78085db0f0d0e --- /dev/null +++ b/news/CMCSA/2023.01.23/Comcast Brings Fiber-Rich Network to More Than 2,600 Homes and Businesses in Plainfield.txt @@ -0,0 +1,28 @@ + + +Hundreds of Homes and Business in Plainfield Already Serviceable with Full Project to be Completed by End of Year +PLAINFIELD, Conn., Jan. 23, 2023 /PRNewswire/ -- Adding to its investment in Connecticut, Comcast today announced it is further expanding its smart, fast and reliable fiber-rich network to more than 2,600 residents and businesses in the town of Plainfield. This follows Comcast's announcement in May 2022 that it would be expanding to nearly 2,500 residents and businesses in Jewett City, where it has started providing its full suite of services, including Xfinity residential broadband speeds up to 1.2 gigabits per second and Comcast Business speeds up to 100 Gbps, to its newest customers. + + + + + + + +Comcast is scheduled to complete these expansion projects in Plainfield and Jewett City in 2023. With these combined projects, Comcast will be expanding its network to 5,100 additional homes and businesses in Eastern Connecticut. +"Plainfield is glad to welcome Comcast to town to offer our residents and businesses more choices. Bringing Comcast to the community is a positive benefit to those who live and work here," said First Selectman Kevin M. Cunningham. +Comcast's most recent expansions to Plainfield and Jewett City are part of the company's latest investment in Connecticut, which also includes expansions to East Lyme, New London and Waterford. In addition, Comcast recently announced a network expansion to nearly 100 unserved businesses in the North End of Hartford. These projects add to the $312 million in technology and infrastructure investments the company made from 2019-2021 across the state. +"We have committed to investing in and expanding our network to ensure that more residents and businesses in Connecticut have the connectivity they need to succeed," said Carolyne Hannan, Senior Vice President of Comcast's Western New England Region, which is based in Connecticut. "We are proud to provide Plainfield with fast, secure, and reliable Internet services that are built to meet the community's needs today and into the future." +Residents and businesses in Plainfield and Jewett City can visit Xfinity.com, call 1-800-XFINITY or visit our Xfinity Store at 220 CT-12 in Groton to see if service is available. Experts at the Xfinity Store can also help with product demonstrations and answer any questions consumers may have and can help local businesses schedule an informational meeting with the Comcast Business sales team. +Residential customers in these areas will be able to take advantage of Xfinity's full suite of Internet products, including supersonic WiFi technology from powerful gateways, xFi Advanced Security, Xfinity Mobile and the ultimate entertainment with Flex, a 4K platform for Internet-only customers that seamlessly delivers streaming content. +Comcast is proud to participate in the federal government's Affordable Connectivity Program (ACP), which provides eligible low-income households with a credit of up to $30 per month ($75 per month on Tribal lands) toward their Internet and/or mobile service. Thanks to ACP, eligible Comcast customers can get home Internet through Comcast's Internet Essentials or Internet Essentials Plus at no cost once the federal credit is applied. Internet Essentials customers can also add a line of unlimited 5G cellular data ($45) through Xfinity Mobile for as little as $24.95/month after the ACP benefit is applied. +For local businesses, Comcast Business offers a suite of connectivity, communications, networking, cybersecurity, wireless and managed solutions to help organizations of different sizes prepare for what's next. Powered by the nation's largest Gig-speed broadband network, and backed by 24/7 customer support, Comcast Business is the nation's largest cable provider to small and mid-size businesses and one of the leading service providers to the Enterprise market. Comcast Business has been consistently recognized by industry analysts and associations as a leader and innovator, and one of the fastest growing providers of Ethernet services. +Comcast is deeply committed to advancing digital equity in the communities it serves. The company has installed 32 Lift Zones in Connecticut, providing free WiFi service to help these community centers promote digital learning. Lift Zones are part of Project UP, Comcast's comprehensive, 10-year, $1 billion commitment to help build a future of unlimited possibilities and the continuation of the company's long history of giving back to communities where it provides service and where its employees live and work. +About Comcast Corporation +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/comcast-brings-fiber-rich-network-to-more-than-2-600-homes-and-businesses-in-plainfield-301728281.html +SOURCE Comcast + + diff --git a/news/CMCSA/2023.01.23/DOJ poised to sue Google over digital ad market dominance - Bloomberg News.txt b/news/CMCSA/2023.01.23/DOJ poised to sue Google over digital ad market dominance - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..1e86b5cc49e6fa4eb33a071d9ba70a60fbe99cfa --- /dev/null +++ b/news/CMCSA/2023.01.23/DOJ poised to sue Google over digital ad market dominance - Bloomberg News.txt @@ -0,0 +1 @@ +The lawsuit would be the second federal antitrust complaint filed against Google, alleging violations of antitrust law in how the tech giant acquires or maintains its dominance. The Justice Department lawsuit filed against Google in 2020 focuses on its monopoly in search and is scheduled to go to trial in September.The Justice Department did not immediately respond to a Reuters request for comment, while Google declined to comment on the report.The lawsuit is expected to take an aim at Google's advertising business, which is responsible for some 80% of its revenue. In addition to its well-known search, which is free, Google makes revenue through its interlocking ad tech businesses, which connect advertisers with newspapers, websites and other firms looking to host them.Advertisers and website publishers have complained that Google has not been transparent about where ad dollars go, specifically how much goes to publishers and how much to Google.The tech giant made a series of purchases, including DoubleClick in 2008 and AdMob in 2009, to help make it a dominant player in online advertising.Google had previously argued that the ad tech ecosystem was competitive with Facebook Inc, AT&T, Comcast and others. While Google remains the market leader by a long shot, its share of the U.S. digital ad revenue has been eroding, falling from 36.7% in 2016 to 28.8% last year, according to Insider Intelligence. (Reporting by Diane Bartz and Akriti Sharma; Editing by Subhranshu Sahu) \ No newline at end of file diff --git "a/news/CMCSA/2023.01.23/Pierce county and comcast partner to \nbring high speed internet to key peninsula.txt" "b/news/CMCSA/2023.01.23/Pierce county and comcast partner to \nbring high speed internet to key peninsula.txt" new file mode 100644 index 0000000000000000000000000000000000000000..d7ade2dfcc3c8f234cb06674ad6972f6a92c6489 --- /dev/null +++ "b/news/CMCSA/2023.01.23/Pierce county and comcast partner to \nbring high speed internet to key peninsula.txt" @@ -0,0 +1 @@ +(via NewsDirect)Pierce County and Comcast have finalized an agreement that will expand the availability of high-speed internet services on the Key Peninsula. Comcast will construct the infrastructure and make available a fast and reliable fiber-rich network and full suite of services to over 526 Key Peninsula homes and businesses, including multi-gig broadband speeds for residential customers and speeds up to 100 Gbps for business customers.Pierce County is working to facilitate the expansion of broadband infrastructure to underserved areas of Pierce County. This program partners County funding with broadband service providers to build infrastructure for the benefit and quality of life of residents and to enhance economic opportunities for local businesses.The approximately $5 million high-speed internet expansion project is being funded as a public-private partnership between Comcast and Pierce County, with the County contributing $3.75 million of federal funding allocated through the American Rescue Plan Act of 2021 (ARPA).“Now, more than ever, it is crucial that people have access to high-speed Internet,” said Bruce Dammeier, Pierce County Executive. “Whether for work, school or entertainment, we want to help all County residents enjoy the benefits of this important infrastructure.”“Today’s announcement about the expansion of high-speed internet services on the Key Peninsula is an extension of our commitment to investing in and expanding our network to ensure that more residents and businesses across our region have the important broadband connections they need for their educational, professional and personal lives,” said Roy Novosel, vice president of engineering, Comcast’s Pacific Northwest Region. “We are proud to connect these communities with fast, secure and reliable internet service that is built to meet their needs today and into the future.”Once permits are obtained and construction has begun in the public rights of way, Comcast will create an online resource for residents seeking information about the network build in their neighborhood, including answers to frequently asked questions and product and service details.For more information about Pierce County’s broadband expansion initiative please visitwww.PierceCountyWa.gov/BoostingBroadbandInformation about Comcast’s broadband investments in rural communities and the Key Peninsula expansion is available at Rural Broadband Expansion | Comcast Washington.About Pierce CountyNearly 1 million residents live in Pierce County, the second largest county in the state of Washington. Our mission is to build strong communities that people are proud to call home. From the top of towering Mt. Rainier to the sparkling shores of Puget Sound, and everywhere in between, Pierce County is an amazing place to live, work and raise a family.Pierce County Media Contact: Erin Babbo, communications manager, 253-442-4452, Erin.babbo@piercecountywa.govAbout Comcast CorporationComcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on broadband, aggregation, and streaming with over 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information.ComcastAndy Colleyandy_colley@comcast.comhttps://washington.comcast.com/Copyright (c) 2023 TheNewswire - All rights reserved.Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases \ No newline at end of file diff --git a/news/CMCSA/2023.01.24/Comcast Partners With National Skills Coalition to Close the Digital Skill Divide.txt b/news/CMCSA/2023.01.24/Comcast Partners With National Skills Coalition to Close the Digital Skill Divide.txt new file mode 100644 index 0000000000000000000000000000000000000000..135436c2c6e0efce01a0a6baa35de079207858c8 --- /dev/null +++ b/news/CMCSA/2023.01.24/Comcast Partners With National Skills Coalition to Close the Digital Skill Divide.txt @@ -0,0 +1,25 @@ + +Comcast announced today a partnership with the National Skills Coalition (NSC) to educate local, state, and national decisionmakers about the benefits of the new Bipartisan Infrastructure Law to promote digital equity and opportunity nationwide. The initiative aims to help close the digital skill divide that is currently limiting educational and employment opportunities for nearly 50 million Americans. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230123005823/en/ +NSC received a $200,000 grant from Comcast to help state leaders bridge existing workforce development programs with federal Broadband Equity, Access, and Deployment Program (BEAD) and Digital Equity Act (DEA) funding. Digital skills are now required across virtually every industry and occupation, yet nearly one in three U.S. workers lack the foundational digital skills necessary to enter and thrive in today’s workforce, with workers of color and those earning lower wages disproportionately affected. These programs represent a once-in-a-generation investment in closing the digital skills gap equitably. + +“If local, state, and federal decisionmakers fully understand its potential – and if workforce and broadband offices work together on its implementation – this federal investment in digital equity could have a profound impact on closing the digital skill divide for tens of millions of America’s workers,” said Andy Van Kleunen, NSC CEO. “We’re grateful to Comcast for their partnership in making that happen.” + +“When digital skills grow, our economy grows,” said Dalila Wilson-Scott, EVP and Chief Diversity Officer of Comcast Corporation and President of the Comcast NBCUniversal Foundation. “The demand for digital skills exists across every industry and throughout the workforce. That’s why we’re proud to partner with the National Skills Coalition to help ensure more local and national leaders are aware of and take advantage of public sector digital equity funds to invest in the skill development programs that are critical to closing our country’s digital divide.” + +As part of the Bipartisan Infrastructure Law passed by Congress in 2021, states have recently begun to receive historic federal investments in digital equity through the $42 billion BEAD program and the $2.75 billion DEA. + +BEAD funding will help states expand access to broadband, digital devices, and digital skills in unserved or under-served communities. BEAD also invests in training local workers to install and maintain new broadband infrastructure in their communities. Complementary, DEA will provide grants to states to support a range of digital inclusion activities, including digital skill building and efforts to advance awareness of adoption programs such as the Affordable Connectivity Program. + +In addition to the grant, NSC and Comcast will partner on research, communications, and trainings that highlight best practices for implementing federal digital inclusion funding. The work will engage federal, state and local officials; state workforce and digital inclusion advocates; and national equity organizations. + +Comcast’s partnership with the National Skills Coalition is part of Project UP, the company’s comprehensive initiative to advance digital equity and help build a future of unlimited possibilities. + +About NSC + +National Skills Coalition fights for inclusive, high-quality skills training so that people have access to a better life, and local businesses see sustained growth. We engage in analysis and technical assistance, organizing, advocacy, and communications to improve state and federal skills policies. + +About Comcast Corporation + +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005823/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.01.25/Ray Roundtree Named Top Executive of Comcast's Keystone Region.txt b/news/CMCSA/2023.01.25/Ray Roundtree Named Top Executive of Comcast's Keystone Region.txt new file mode 100644 index 0000000000000000000000000000000000000000..157380222c41ec4ac0c182ff1198e10ad0d2d309 --- /dev/null +++ b/news/CMCSA/2023.01.25/Ray Roundtree Named Top Executive of Comcast's Keystone Region.txt @@ -0,0 +1,27 @@ + + +PITTSBURGH, Jan. 25, 2023 /PRNewswire/ -- Ray Roundtree has been named Senior Vice President of Comcast's Keystone Region, overseeing the organization's operational, strategic and financial performance across areas serving western, central and northeastern Pennsylvania, eastern Ohio, northern West Virginia and the Maryland panhandle. The Region is headquartered in Pittsburgh, where Roundtree is based. + + + + + + + +"With his industry expertise and broad experience running major markets, Ray will be a great leader for the Keystone Region," said Amy Lynch, President of Comcast's Northeast Division, which includes 14 northeastern states from Maine through Virginia and the District of Columbia. "I know Ray will be successful in continuing to deliver our innovative products and services to area homes and businesses--keeping them connected to what matters most." +Roundtree joined Comcast in 2000 as Director of Business Operations for Chester and Lancaster counties and has since served in several financial management leadership roles at Comcast during his 22 years at the company. He most recently served as Vice President of Finance for Comcast's Beltway Region, which is based in Baltimore. +"I'm thrilled to come back to Comcast's Keystone Region to lead a team that's creating awesome experiences for our customers and employees," said Roundtree. "My family and I are grateful to be able to continue my career journey in a part of the country where we have deep roots." +Roundtree holds a B.S. in Finance and an MBA from Penn State University where he was a wide receiver for the 1986 national championship Nittany Lions. +About Comcast Corporation +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company with three primary businesses: Comcast Cable, NBCUniversal, and Sky. Comcast Cable is one of the United States' largest video, high-speed internet, and phone providers to residential customers under the Xfinity brand, and also provides these services to businesses. It also provides wireless and security and automation services to residential customers under the Xfinity brand. NBCUniversal is global and operates news, entertainment and sports cable networks, the NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures, and Universal Parks and Resorts. Sky is one of Europe's leading media and entertainment companies, connecting customers to a broad range of video content through its pay television services. It also provides communications services, including residential high-speed internet, phone, and wireless services. Sky operates the Sky News broadcast network and sports and entertainment networks, produces original content, and has exclusive content rights. Visit www.comcastcorporation.com for more information. + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/ray-roundtree-named-top-executive-of-comcasts-keystone-region-301729752.html +SOURCE Comcast + + diff --git a/news/CMCSA/2023.01.26/Comcast : Q4 Earnings Snapshot.txt b/news/CMCSA/2023.01.26/Comcast : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..e54c07e4450b8fcbe3d848f388825f554629b0e9 --- /dev/null +++ b/news/CMCSA/2023.01.26/Comcast : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +PHILADELPHIA (AP) _ Comcast Corp. (CMCSA) on Thursday reported fourth-quarter profit of $3.02 billion.On a per-share basis, the Philadelphia-based company said it had profit of 70 cents. Earnings, adjusted for amortization costs and investment costs, came to 82 cents per share.The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.The cable provider posted revenue of $30.55 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $30.32 billion.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMCSA at https://www.zacks.com/ap/CMCSACopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/CMCSA/2023.01.26/Comcast Increases Dividend by $0.08 to $1.16 Per Share on an Annualized Basis In 2023.txt b/news/CMCSA/2023.01.26/Comcast Increases Dividend by $0.08 to $1.16 Per Share on an Annualized Basis In 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..fed8bf01eaf34bf899344183ead048d303f02cc0 --- /dev/null +++ b/news/CMCSA/2023.01.26/Comcast Increases Dividend by $0.08 to $1.16 Per Share on an Annualized Basis In 2023.txt @@ -0,0 +1,9 @@ + +Comcast Corporation (NASDAQ: CMCSA) announced today that it increased its dividend by $0.08 to $1.16 per share on an annualized basis, up 7.4% year-over-year. In accordance with the increase, the Board of Directors declared a quarterly cash dividend of $0.29 a share on the company’s common stock, payable on April 26, 2023, to shareholders of record as of the close of business on April 5, 2023. + +To automatically receive Comcast financial news by e-mail, please visit www.cmcsa.com and subscribe to E-mail Alerts. + +About Comcast Corporation + +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230126005252/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.01.26/Comcast Reports 4th Quarter and Full Year 2022 Results.txt b/news/CMCSA/2023.01.26/Comcast Reports 4th Quarter and Full Year 2022 Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..6e4f51b9ef2a90bf252be5214b77adf5d4e90b00 --- /dev/null +++ b/news/CMCSA/2023.01.26/Comcast Reports 4th Quarter and Full Year 2022 Results.txt @@ -0,0 +1,7017 @@ + +Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter and year ended December 31, 2022. + +"I am proud of how our team executed throughout 2022," said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation. "We achieved the highest levels of Revenue, Adjusted EBITDA and Adjusted EPS in our history and returned a record $17.7 billion of capital to shareholders. We delivered impressive revenue growth in broadband; grew wireless lines by 1.3 million, our best result since launch; more than doubled our Peacock subscribers, surpassing 20 million at year-end; nearly tripled Peacock revenue to $2.1 billion; ranked second in worldwide box office; and generated record Adjusted EBITDA at our theme parks. Importantly, we achieved these results while continuing to invest in broadband, our 10G network evolution, Xfinity Mobile, Peacock, and theme parks, and we also took cost actions to further our growth in the future. We are excited to begin the new year as an innovative leader in large profitable markets with a strong balance sheet and a strategy to drive incremental returns and bring outstanding content and experiences to our customers. The Board's confidence in our position and path forward is underscored by today's announcement that we are increasing our dividend for the 15th consecutive year." + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +($ in millions, except per share data) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +4th Quarter + +  + +Full Year + +  + +Consolidated Results + +2022 + +2021 + +Change + +  + +2022 + +2021 + +Change + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Revenue + +$30,552 + +$30,336 + +0.7 + +% + +  + +$121,427 + +$116,385 + +4.3 + +% + +  + +Net Income Attributable to Comcast + +$3,024 + +$3,057 + +(1.1 + +%) + +  + +$5,370 + +$14,159 + +(62.1 + +%) + +  + +Adjusted Net Income1 + +$3,520 + +$3,534 + +(0.4 + +%) + +  + +$16,147 + +$15,045 + +7.3 + +% + +  + +Adjusted EBITDA2 + +$8,000 + +$8,411 + +(4.9 + +%) + +  + +$36,459 + +$34,708 + +5.0 + +% + +  + +Earnings per Share3 + +$0.70 + +$0.66 + +6.8 + +% + +  + +$1.21 + +$3.04 + +(60.2 + +%) + +  + +Adjusted Earnings per Share1 + +$0.82 + +$0.77 + +6.5 + +% + +  + +$3.64 + +$3.23 + +12.7 + +% + +  + +Net Cash Provided by Operating Activities + +$5,883 + +$7,689 + +(23.5 + +%) + +  + +$26,413 + +$29,146 + +(9.4 + +%) + +  + +Free Cash Flow4 + +$1,330 + +$3,784 + +(64.9 + +%) + +  + +$12,646 + +$17,089 + +(26.0 + +%) + +For additional detail on segment revenue and expenses, customer metrics, capital expenditures, and free cash flow, please refer to the trending schedules on Comcast’s Investor Relations website at www.cmcsa.com. + +Full Year 2022 Highlights: + +4th Quarter 2022 Highlights: + +Dividends and Share Repurchases: + +Consolidated Financial Results + +Revenue for the fourth quarter of 2022 increased 0.7% to $30.6 billion. Net Income Attributable to Comcast decreased 1.1% to $3.0 billion. Adjusted Net Income decreased 0.4% to $3.5 billion. Adjusted EBITDA decreased 4.9% to $8.0 billion, including $541 million in higher severance expense compared to the prior year period. Excluding the higher severance5, Adjusted EBITDA increased 1.5%. + +For the twelve months ended December 31, 2022, revenue increased 4.3% to $121.4 billion. Net income attributable to Comcast decreased 62.1% to $5.4 billion. Adjusted Net Income increased 7.3% to $16.1 billion. Adjusted EBITDA increased 5.0% to $36.5 billion. + +In the third quarter of 2022, we recorded noncash impairment charges related to goodwill and intangible assets in our Sky segment totaling $8.6 billion. The impairments primarily reflected an increased discount rate and reduced estimated future cash flows as a result of macroeconomic conditions in Sky's territories, are recorded in "Goodwill and long-lived asset impairments" in the Condensed Consolidated Statement of Income and are excluded from Adjusted Net Income and Adjusted Earnings per Share. + +Earnings per Share (EPS) for the fourth quarter of 2022 increased 6.8% to $0.70. Adjusted EPS increased 6.5% to $0.82. + +For the twelve months ended December 31, 2022, EPS decreased 60.2% to $1.21. Adjusted EPS increased 12.7% to $3.64. + +Capital Expenditures increased 17.7% to $3.6 billion in the fourth quarter of 2022. Cable Communications’ capital expenditures increased 9.7% to $2.4 billion. NBCUniversal’s capital expenditures increased 82.6% to $916 million, reflecting increased investment in constructing the Epic Universe theme park in Orlando, which is scheduled to open in 2025. Sky's capital expenditures decreased 43.9% to $186 million. + +For the twelve months ended December 31, 2022, capital expenditures increased 15.8% to $10.6 billion. Cable Communications' capital expenditures increased 9.2% to $7.6 billion. NBCUniversal's capital expenditures increased $1.2 billion to $2.3 billion, reflecting the increased investment in constructing Epic Universe. Sky's capital expenditures decreased 40.9% to $560 million. + +Net Cash Provided by Operating Activities was $5.9 billion in the fourth quarter of 2022. Free Cash Flow was $1.3 billion. + +For the twelve months ended December 31, 2022, net cash provided by operating activities was $26.4 billion. Free cash flow was $12.6 billion. + +Dividends and Share Repurchases. During the fourth quarter of 2022, Comcast paid dividends totaling $1.2 billion and repurchased 106.3 million of its common shares for $3.5 billion, resulting in a total return of capital to shareholders of $4.7 billion, compared to $3.1 billion in the prior year period. + +For the twelve months ended December 31, 2022, Comcast paid dividends totaling $4.7 billion and repurchased 332.0 million of its common shares for $13.0 billion, resulting in a total return of capital to shareholders of $17.7 billion, compared to $8.5 billion in 2021. + +Today, Comcast announced that it increased its dividend by $0.08, or 7.4% year-over-year, to $1.16 per share on an annualized basis for 2023. In accordance with the increase, the Board of Directors declared a quarterly cash dividend of $0.29 per share on the company's stock, payable April 26, 2023, to shareholders of record as of the close of business on April 5, 2023. + +Cable Communications + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +($ in millions) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +4th Quarter + +  + +  + +Full Year + +  + +  + +  + +2022 + +2021 + +Change + +  + +  + +2022 + +2021 + +Change + +  + +  + +Cable Communications Revenue + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Broadband + +$6,177 + +$5,861 + +5.4 + +% + +  + +  + +$24,469 + +$22,979 + +6.5 + +% + +  + +  + +Video + +5,100 + +5,403 + +(5.6 + +%) + +  + +  + +21,314 + +22,079 + +(3.5 + +%) + +  + +  + +Voice + +716 + +825 + +(13.2 + +%) + +  + +  + +3,010 + +3,417 + +(11.9 + +%) + +  + +  + +Wireless + +883 + +709 + +24.7 + +% + +  + +  + +3,071 + +2,380 + +29.0 + +% + +  + +  + +Business Services + +2,444 + +2,337 + +4.6 + +% + +  + +  + +9,700 + +8,933 + +8.6 + +% + +  + +  + +Advertising + +892 + +818 + +9.1 + +% + +  + +  + +3,067 + +2,820 + +8.8 + +% + +  + +  + +Other + +424 + +454 + +(6.5 + +%) + +  + +  + +1,687 + +1,719 + +(1.9 + +%) + +  + +  + +Cable Communications Revenue + +$16,638 + +$16,406 + +1.4 + +% + +  + +  + +$66,318 + +$64,328 + +3.1 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Cable Communications Adjusted EBITDA + +$7,231 + +$7,125 + +1.5 + +% + +  + +  + +$29,403 + +$28,097 + +4.6 + +% + +  + +  + +Adjusted EBITDA Margin + +43.5% + +43.4% + +  + +  + +  + +44.3% + +43.7% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Cable Communications Capital Expenditures + +$2,404 + +$2,192 + +9.7 + +% + +  + +  + +$7,568 + +$6,930 + +9.2 + +% + +  + +  + +Percent of Cable Communications Revenue + +14.4% + +13.4% + +  + +  + +  + +11.4% + +10.8% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Revenue for Cable Communications increased 1.4% to $16.6 billion in the fourth quarter of 2022, driven by increases in broadband, wireless, business services and advertising revenue, partially offset by decreases in video, voice and other revenue. Broadband revenue increased 5.4% due to an increase in average rates and an increase in the number of residential broadband customers compared to the prior year period. Wireless revenue increased 24.7% due to an increase in the number of customer lines and an increase in device sales. Business services revenue increased 4.6% due to an increase in average rates and an increase in the number of customers receiving our services compared to the prior year period. Advertising revenue increased 9.1%, primarily driven by an increase in political advertising. Excluding political revenue, advertising revenue decreased by 7.4%, reflecting the previously announced transition of our Xumo Play streaming service from Cable Communications to a joint venture reported in Corporate and Other and lower local and national advertising revenue, partially offset by higher revenue from our advanced advertising businesses. Video revenue decreased 5.6%, reflecting a decrease in the number of residential video customers, partially offset by an increase in average rates. Voice revenue decreased 13.2%, primarily reflecting a decrease in the number of residential voice customers. Other revenue decreased 6.5%, reflecting a decrease in revenue from our security and automation services. + +For the twelve months ended December 31, 2022, Cable revenue increased 3.1% to $66.3 billion, driven by growth in broadband, business services, wireless and advertising revenue, partially offset by a decrease in video and voice revenue. + +Total Customer Relationships decreased by 71,000 to 34.3 million in the fourth quarter of 2022. Excluding the negative impact from Hurricane Ian, we estimate that total customer relationships decreased by 36,000. Total broadband customer net losses were 26,000. Excluding the negative impact from Hurricane Ian, we estimate that total broadband net additions were 4,000. Total video customer net losses were 440,000 and total voice customer net losses were 288,000. In addition, Cable Communications added 365,000 wireless lines in the quarter. + +For the twelve months ended December 31, 2022, total customer relationships increased by 75,000. Residential customer relationships increased by 54,000 and business customer relationships increased by 21,000. Total broadband customer net additions were 250,000. Total video customer net losses were 2.0 million and total voice customer net losses were 1.2 million. In addition, Cable Communications added 1.3 million wireless lines in 2022. + +  + +(in thousands) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Net Additions / (Losses) + +  + +  + +  + +  + +4th Quarter + +  + +  + +Full Year + +  + +  + +4Q22 + +4Q21 + +2022 + +  + +2021 + +  + +  + +  + +2022 + +  + +2021 + +  + +  + +Customer Relationships + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential Customer Relationships + +31,782 + +31,728 + +(67 + +) + +153 + +  + +  + +  + +54 + +  + +1,036 + +  + +  + +Business Services Customer Relationships + +2,510 + +2,489 + +(3 + +) + +17 + +  + +  + +  + +21 + +  + +63 + +  + +  + +Total Customer Relationships + +34,293 + +34,218 + +(71 + +) + +169 + +  + +  + +  + +75 + +  + +1,099 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential Customer Relationships Mix + +  + +  + +  + +  + +  + +  + +  + +  + +  + +One Product Residential Customers + +15,652 + +14,330 + +189 + +  + +371 + +  + +  + +  + +1,322 + +  + +1,922 + +  + +  + +Two Product Residential Customers + +8,188 + +8,407 + +(16 + +) + +(67 + +) + +  + +  + +(218 + +) + +(328 + +) + +  + +Three or More Product Residential Customers + +7,942 + +8,992 + +(240 + +) + +(152 + +) + +  + +  + +(1,050 + +) + +(558 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential Broadband Customers + +29,812 + +29,583 + +(23 + +) + +194 + +  + +  + +  + +230 + +  + +1,257 + +  + +  + +Business Services Broadband Customers + +2,339 + +2,318 + +(3 + +) + +18 + +  + +  + +  + +21 + +  + +70 + +  + +  + +Total Broadband Customers + +32,151 + +31,901 + +(26 + +) + +212 + +  + +  + +  + +250 + +  + +1,327 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential Video Customers + +15,554 + +17,495 + +(419 + +) + +(349 + +) + +  + +  + +(1,941 + +) + +(1,498 + +) + +  + +Business Services Video Customers + +589 + +681 + +(21 + +) + +(24 + +) + +  + +  + +(93 + +) + +(171 + +) + +  + +Total Video Customers + +16,142 + +18,176 + +(440 + +) + +(373 + +) + +  + +  + +(2,034 + +) + +(1,669 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential Voice Customers + +7,912 + +9,062 + +(278 + +) + +(183 + +) + +  + +  + +(1,150 + +) + +(583 + +) + +  + +Business Services Voice Customers + +1,369 + +1,391 + +(11 + +) + +7 + +  + +  + +  + +(22 + +) + +34 + +  + +  + +Total Voice Customers + +9,282 + +10,454 + +(288 + +) + +(176 + +) + +  + +  + +(1,172 + +) + +(548 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Total Wireless Lines + +5,313 + +3,980 + +365 + +  + +312 + +  + +  + +  + +1,334 + +  + +1,154 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Adjusted EBITDA for Cable Communications increased 1.5% to $7.2 billion in the fourth quarter of 2022, reflecting higher revenue, partially offset by a 1.4% increase in operating expenses due to higher severance expense. Excluding the higher severance5, Adjusted EBITDA increased 5.8%. Programming expenses decreased 5.9%, primarily reflecting a decline in the number of video subscribers, partially offset by contractual rate increases. Non-programming expenses increased 5.6%, reflecting higher other expenses, including $305 million in higher severance expense, and an increase in technical and product support expenses, partially offset by lower advertising, marketing and promotion expenses, franchise and regulatory fees and customer service expenses. Adjusted EBITDA margin was 43.5% compared to 43.4% in the prior year period. Excluding the higher severance5, Adjusted EBITDA margin was 45.3% in the fourth quarter of 2022. + +For the twelve months ended December 31, 2022, Adjusted EBITDA for Cable Communications increased 4.6% to $29.4 billion, reflecting higher revenue, partially offset by a 1.9% increase in operating expenses. Programming expenses decreased 2.8%, primarily reflecting a decline in the number of video subscribers, partially offset by contractual rate increases. Non-programming expenses increased 4.9%. For the twelve months ended December 31, 2022, Adjusted EBITDA margin was 44.3% compared to 43.7% in 2021. + +Capital Expenditures for Cable Communications increased 9.7% to $2.4 billion in the fourth quarter of 2022, reflecting increased investment in line extensions, scalable infrastructure, customer premise equipment and support capital. Cable capital expenditures represented 14.4% of Cable revenue in the fourth quarter of 2022 compared to 13.4% in the prior year period. + +For the twelve months ended December 31, 2022, Cable capital expenditures increased 9.2% to $7.6 billion, reflecting increased investment in line extensions, scalable infrastructure, support capital and customer premise equipment. Cable capital expenditures represented 11.4% of Cable revenue compared to 10.8% in 2021. + +NBCUniversal + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +($ in millions) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +4th Quarter + +  + +  + +Full Year + +  + +  + +2022 + +  + +2021 + +  + +Change + +  + +  + +2022 + +  + +2021 + +  + +Change + +  + +NBCUniversal Revenue + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Media + +$5,979 + +  + +$5,826 + +  + +2.6 + +% + +  + +  + +$23,406 + +  + +$22,780 + +  + +2.7 + +% + +  + +Excluding Olympics, Super Bowl and FIFA World Cup5 + +$5,716 + +  + +$5,826 + +  + +(1.9 + +%) + +  + +  + +$21,662 + +  + +$21,021 + +  + +3.0 + +% + +  + +Studios + +2,737 + +  + +2,421 + +  + +13.1 + +% + +  + +  + +11,622 + +  + +9,449 + +  + +23.0 + +% + +  + +Theme Parks + +2,114 + +  + +1,887 + +  + +12.0 + +% + +  + +  + +7,541 + +  + +5,051 + +  + +49.3 + +% + +  + +Headquarters and other + +29 + +  + +22 + +  + +36.1 + +% + +  + +  + +75 + +  + +87 + +  + +(13.6 + +%) + +  + +Eliminations + +(968 + +) + +(817 + +) + +(18.4 + +%) + +  + +  + +(3,442 + +) + +(3,048 + +) + +(12.9 + +%) + +  + +NBCUniversal Revenue + +$9,892 + +  + +$9,338 + +  + +5.9 + +% + +  + +  + +$39,203 + +  + +$34,319 + +  + +14.2 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +NBCUniversal Adjusted EBITDA + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Media + +$132 + +  + +$721 + +  + +(81.7 + +%) + +  + +  + +$3,212 + +  + +$4,569 + +  + +(29.7 + +%) + +  + +Studios + +160 + +  + +51 + +  + +NM + +  + +  + +  + +942 + +  + +884 + +  + +6.6 + +% + +  + +Theme Parks + +782 + +  + +674 + +  + +16.0 + +% + +  + +  + +2,683 + +  + +1,267 + +  + +111.7 + +% + +  + +Headquarters and other + +(353 + +) + +(197 + +) + +(79.2 + +%) + +  + +  + +(881 + +) + +(840 + +) + +(4.8 + +%) + +  + +Eliminations + +97 + +  + +33 + +  + +195.9 + +% + +  + +  + +(2 + +) + +(205 + +) + +99.1 + +% + +  + +NBCUniversal Adjusted EBITDA + +$817 + +  + +$1,282 + +  + +(36.3 + +%) + +  + +  + +$5,955 + +  + +$5,675 + +  + +4.9 + +% + +  + +NM=comparison not meaningful. + +  + +  + +  + +  + +  + +  + +  + +  + +Revenue for NBCUniversal increased 5.9% to $9.9 billion in the fourth quarter of 2022, including $263 million in incremental revenue from the FIFA World Cup. Adjusted EBITDA decreased 36.3% to $817 million, including $182 million in severance expense in Headquarters and Other in the current year period. Excluding Headquarters and Other severance, Adjusted EBITDA5 decreased 22.1%. + +For the twelve months ended December 31, 2022, NBCUniversal revenue increased 14.2% to $39.2 billion. 2022 included $1.7 billion of incremental revenue from the Beijing Olympics, the NFL's Super Bowl and the FIFA World Cup in the Media segment, while 2021 included $1.8 billion of incremental revenue from the Tokyo Olympics in the Media segment. Adjusted EBITDA increased 4.9% to $6.0 billion. + +Media +Media revenue increased 2.6% to $6.0 billion in the fourth quarter of 2022, due to higher advertising revenue and distribution revenue. Excluding $263 million generated by Telemundo's broadcast of the FIFA World Cup5, Media revenue decreased 1.9%. Advertising revenue increased 4.0%, primarily due to incremental revenue from the FIFA World Cup as well as an increase in Peacock advertising revenue. Distribution revenue increased 3.8%, reflecting an increase in subscribers at Peacock and contractual rate increases, partially offset by a decline in subscribers at our networks. Adjusted EBITDA decreased 81.7% to $132 million in the fourth quarter of 2022, reflecting higher operating expenses, which more than offset higher revenue. The increase in operating expenses was primarily due to higher programming and production costs, reflecting higher costs at Peacock and higher sports programming costs associated with Telemundo's broadcast of the FIFA World Cup. Media results include $660 million of revenue and an Adjusted EBITDA6 loss of $978 million related to Peacock, compared to $335 million of revenue and an Adjusted EBITDA6 loss of $559 million in the prior year period. + +For the twelve months ended December 31, 2022, revenue from the Media segment increased 2.7% to $23.4 billion, primarily due to higher distribution revenue and advertising revenue. Excluding $1.7 billion of incremental revenue from the Beijing Olympics, the NFL's Super Bowl and the FIFA World Cup in 20225 and $1.8 billion of incremental revenue from the Tokyo Olympics in 20215, Media revenue increased 3.0%. Adjusted EBITDA decreased 29.7% to $3.2 billion, reflecting higher operating expenses, which more than offset higher revenue. The increase in operating expenses was due to higher programming and production expenses, other operating and administrative expenses and advertising, marketing and promotion expenses. Media results include $2.1 billion of revenue and an Adjusted EBITDA6 loss of $2.5 billion related to Peacock, compared to $778 million of revenue and an Adjusted EBITDA6 loss of $1.7 billion in 2021. + +Studios +Studios revenue increased 13.1% to $2.7 billion in the fourth quarter of 2022, due to higher content licensing and theatrical revenue. Content licensing revenue increased 15.9%, primarily due to the timing of when content was made available by our film and television studios under licensing agreements, including additional sales of content as production levels returned to normal. Theatrical revenue increased 47.3%, primarily due to the successful performance of recent releases, including Ticket to Paradise, Puss in Boots: The Last Wish, Violent Night and Halloween Ends. Adjusted EBITDA increased $109 million to $160 million in the fourth quarter of 2022, reflecting higher revenue, which more than offset higher operating expenses. The increase in operating expenses was driven by an increase in advertising, marketing and promotion expenses reflecting the size and timing of this quarter's theatrical slate, as well as higher programming and production expenses, reflecting higher amortization of film production costs in the current year period. + +For the twelve months ended December 31, 2022, revenue from the Studios segment increased 23.0% to $11.6 billion, primarily reflecting higher content licensing revenue and theatrical revenue. Adjusted EBITDA increased 6.6% to $942 million, reflecting higher revenue, partially offset by higher operating expenses. + +Theme Parks +Theme Parks revenue increased 12.0% to $2.1 billion in the fourth quarter of 2022, primarily due to increased attendance and guest spending at our parks in the U.S. and Japan compared to the prior year period. Theme Parks Adjusted EBITDA increased 16.0% to $782 million in the fourth quarter of 2022, reflecting higher revenue, partially offset by higher operating expenses. + +For the twelve months ended December 31, 2022, revenue from the Theme Parks segment increased 49.3% to $7.5 billion, primarily reflecting improved operating conditions compared to 2021, when each of our theme parks in the U.S. and Japan was either operating at limited capacity or closed during certain periods as a result of COVID-19, as well as the operations of Universal Beijing Resort, which opened in September 2021. Adjusted EBITDA increased $1.4 billion to $2.7 billion, reflecting higher revenue, partially offset by higher operating expenses. + +Headquarters and Other +NBCUniversal Headquarters and Other includes overhead, personnel costs and costs associated with corporate initiatives. Headquarters and Other Adjusted EBITDA loss in the fourth quarter of 2022 was $353 million, compared to a loss of $197 million in the prior year period. The year-over-year change was driven by $182 million in severance expense in the current year period. + +For the twelve months ended December 31, 2022, Headquarters and Other Adjusted EBITDA loss was $881 million, compared to a loss of $840 million in 2021. + +Eliminations +Amounts represent eliminations of transactions between our NBCUniversal segments, which are affected by the timing of recognition of content licenses between our Studios and Media segments. Revenue eliminations in the fourth quarter of 2022 were $968 million, compared to $817 million in the prior year period, and Adjusted EBITDA eliminations were a benefit of $97 million, compared to a benefit of $33 million in the prior year period. + +For the twelve months ended December 31, 2022, revenue eliminations were $3.4 billion, compared to $3.0 billion in 2021. Adjusted EBITDA eliminations were $2 million, compared to $205 million in 2021. The year-over-year change was primarily driven by the licensing of content by the Studios segment to Peacock in the Media segment. + +Sky + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +($ in millions) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +4th Quarter + +  + +Year to Date + +  + +  + +  + +2022 + +2021 + +Change + +Constant +Currency +Change7 + +  + +2022 + +2021 + +Change + +Constant +Currency +Change7 + +  + +  + +Sky Revenue + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Direct-to-Consumer + +$3,547 + +$4,040 + +(12.2 + +%) + +0.2 + +% + +  + +$14,621 + +$16,455 + +(11.1 + +%) + +(0.8 + +%) + +  + +  + +Content + +304 + +327 + +(7.0 + +%) + +6.5 + +% + +  + +1,138 + +1,341 + +(15.2 + +%) + +(5.5 + +%) + +  + +  + +Advertising + +564 + +712 + +(20.7 + +%) + +(9.6 + +%) + +  + +2,187 + +2,489 + +(12.1 + +%) + +(1.9 + +%) + +  + +  + +Sky Revenue + +$4,416 + +$5,079 + +(13.0 + +%) + +(0.8 + +%) + +  + +$17,946 + +$20,285 + +(11.5 + +%) + +(1.2 + +%) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Sky Costs and Expenses + +$4,076 + +$4,615 + +(11.7 + +%) + +0.6 + +% + +  + +$15,420 + +$17,925 + +(14.0 + +%) + +(4.1 + +%) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Sky Adjusted EBITDA + +$340 + +$464 + +(26.7 + +%) + +(15.1 + +%) + +  + +$2,526 + +$2,359 + +7.0 + +% + +20.3 + +% + +  + +  + +Adjusted EBITDA Margin + +7.7% + +9.1% + +  + +  + +  + +14.1% + +11.6% + +  + +  + +  + +Revenue for Sky decreased 13.0% to $4.4 billion in the fourth quarter of 2022. Excluding the impact of currency, revenue was consistent with the prior year period. Direct-to-consumer revenue of $3.5 billion was consistent with the prior year period, reflecting increased revenue in the U.K., driven by higher mobile and broadband revenue, offset by decreased revenue in Germany and Italy. Advertising revenue decreased 9.6% to $564 million, primarily reflecting lower revenue in the U.K., including the impact of the timing of the FIFA World Cup. Content revenue increased 6.5% to $304 million, primarily due to the timing of licensing our content to other platforms. + +For the twelve months ended December 31, 2022, Sky revenue decreased 11.5% to $17.9 billion. Excluding the impact of currency, revenue decreased 1.2%, reflecting lower direct-to-consumer revenue, content revenue and advertising revenue. + +Total Customer Relationships increased by 129,000 to 23.1 million in the fourth quarter of 2022. For the twelve months ended December 31, 2022, total customer relationships increased by 88,000. + +  + +(in thousands) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Customers + +Net Additions / (Losses) + +  + +  + +  + +  + +  + +4th Quarter + +  + +  + +Full Year + +  + +  + +  + +4Q22 + +4Q21 + +2022 + +2021 + +  + +  + +2022 + +2021 + +  + +  + +  + +Total Customer Relationships + +23,115 + +23,027 + +129 + +61 + +  + +  + +88 + +(198 + +) + +  + +Adjusted EBITDA for Sky decreased 26.7% to $340 million in the fourth quarter of 2022. Excluding the impact of currency, Adjusted EBITDA decreased 15.1% compared to the prior year period, reflecting consistent revenue and higher operating expenses, including $53 million in higher severance expense. Excluding the higher severance5, Adjusted EBITDA decreased 2.0%. The increase in operating expenses was due to higher other costs, including the higher severance, as well as higher direct network costs driven by growth in our residential mobile and broadband businesses, largely offset by lower sports programming costs due to the timing of sporting events, including a shift of certain football matches out of the fourth quarter of 2022 due to the FIFA World Cup. + +For the twelve months ended December 31, 2022, Adjusted EBITDA for Sky increased 7.0% to $2.5 billion. Excluding the impact of currency, Adjusted EBITDA increased 20.3%. + +Corporate, Other and Eliminations + +  + +Corporate and Other +Corporate and Other primarily relates to corporate operations, Comcast Spectacor, Sky Glass and Xumo, our streaming platform joint venture with Charter Communications. Revenue in the fourth quarter of 2022 was $313 million, compared to $215 million in the prior year period. Corporate and Other Adjusted EBITDA loss was $417 million, compared to a loss of $481 million in the prior year period. + +For the twelve months ended December 31, 2022, Corporate and Other revenue was $863 million, compared to $461 million in 2021. Corporate and Other Adjusted EBITDA loss of $1.4 billion was consistent with 2021. + +Eliminations +Amounts represent eliminations of transactions between Cable Communications, NBCUniversal, Sky and other businesses. Eliminations of transactions between NBCUniversal segments are presented separately. Revenue eliminations in the fourth quarter of 2022 of $707 million were consistent with the prior year period, and Adjusted EBITDA eliminations were $28 million compared to $21 million in the prior year period. + +For the twelve months ended December 31, 2022, revenue eliminations were $2.9 billion compared to $3.0 billion in 2021, and Adjusted EBITDA eliminations were a loss of $64 million compared to a loss of $65 million in 2021. Amounts reflect eliminations associated with the Beijing and Tokyo Olympics in 2022 and 2021, respectively. + +Notes: + +1 + +We define Adjusted Net Income and Adjusted EPS as net income attributable to Comcast Corporation and diluted earnings per common share attributable to Comcast Corporation shareholders, respectively, adjusted to exclude the effects of the amortization of acquisition-related intangible assets, investments that investors may want to evaluate separately (such as based on fair value) and the impact of certain events, gains, losses or other charges that affect period-over-period comparisons. See Table 5 for reconciliations of non-GAAP financial measures. + +2 + +We define Adjusted EBITDA as net income attributable to Comcast Corporation before net income (loss) attributable to noncontrolling interests, income tax expense, investment and other income (loss), net, interest expense, depreciation and amortization expense, and other operating gains and losses (such as impairment charges related to fixed and intangible assets and gains or losses on the sale of long-lived assets), if any. From time to time, we may exclude from Adjusted EBITDA the impact of certain events, gains, losses or other charges (such as significant legal settlements) that affect the period-to-period comparability of our operating performance. See Table 4 for reconciliation of non-GAAP financial measure. + +3 + +All earnings per share amounts are presented on a diluted basis. + +4 + +We define Free Cash Flow as net cash provided by operating activities (as stated in our Consolidated Statement of Cash Flows) reduced by capital expenditures and cash paid for intangible assets. From time to time, we may exclude from Free Cash Flow the impact of certain cash receipts or payments (such as significant legal settlements) that affect period-to-period comparability. Cash payments related to certain capital or intangible assets, such as the construction of Universal Beijing Resort, are presented separately in our Consolidated Statement of Cash Flows and are therefore excluded from capital expenditures and cash paid for intangible assets for Free Cash Flow. See Table 4 for reconciliation of non-GAAP financial measure. + +5 + +From time to time, we may present adjusted information (e.g., Adjusted Revenues) to exclude the impact of certain events, gains, losses or other charges affecting period-to-period comparability of our operating performance. See Table 7 and Table 8 for reconciliations of non-GAAP financial measures. + +6 + +Adjusted EBITDA is the measure of profit or loss for our segments. From time to time, we may present Adjusted EBITDA for components of our reportable segments, such as Peacock. We believe these measures are useful to evaluate our financial results and provide a basis of comparison to others, although our definition of Adjusted EBITDA may not be directly comparable to similar measures used by other companies. Adjusted EBITDA for components are generally presented on a consistent basis with the respective segments and include direct revenue and operating costs and expenses attributed to the component operations. + +7 + +Sky constant currency growth rates are calculated by comparing the current period results to the comparative period results in the prior year adjusted to reflect the average exchange rates from the current year period rather than the actual exchange rates in effect during the respective prior year periods. See Table 6 for reconciliation of Sky's constant currency growth. + +Conference Call and Other Information +Comcast Corporation will host a conference call with the financial community today, January 26, 2023 at 8:30 a.m. Eastern Time (ET). The conference call and related materials will be broadcast live and posted on our Investor Relations website at www.cmcsa.com. Those parties interested in participating via telephone should dial (646) 828-8082 with the passcode 572424. A replay of the call will be available starting at 11:30 a.m. ET on Thursday, January 26, 2023 on the Investor Relations website. + +From time to time, we post information that may be of interest to investors on our website at www.cmcsa.com and on our corporate website, www.comcastcorporation.com. To automatically receive Comcast financial news by email, please visit www.cmcsa.com and subscribe to email alerts. + +Caution Concerning Forward-Looking Statements +This press release includes statements that may constitute forward-looking statements. In evaluating these statements, readers should consider various factors, including the risks and uncertainties we describe in the “Risk Factors” sections of our most recent Annual Report on Form 10-K, our most recent Quarterly Report on Form 10-Q and other reports filed with the Securities and Exchange Commission (SEC). Factors that could cause our actual results to differ materially from these forward-looking statements include changes in and/or risks associated with: the competitive environment; consumer behavior; the advertising market; programming costs; consumer acceptance of our content; key distribution and/or licensing agreements; use and protection of our intellectual property; our reliance on third-party hardware, software and operational support; keeping pace with technological developments; cyber attacks, security breaches or technology disruptions; weak economic conditions; acquisitions and strategic initiatives; operating businesses internationally; natural disasters, severe weather-related and other uncontrollable events; loss of key personnel; laws and regulations; adverse decisions in litigation or governmental investigations; labor disputes; and other risks described from time to time in reports and other documents we file with the SEC. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made, and involve risks and uncertainties that could cause actual events or our actual results to differ materially from those expressed in any such forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise. The amount and timing of any dividends and share repurchases are subject to business, economic and other relevant factors. + +Non-GAAP Financial Measures +In this discussion, we sometimes refer to financial measures that are not presented according to generally accepted accounting principles in the U.S. (GAAP). Certain of these measures are considered “non-GAAP financial measures” under the SEC regulations; those rules require the supplemental explanations and reconciliations that are in Comcast’s Form 8-K (Quarterly Earnings Release) furnished to the SEC. + +About Comcast Corporation +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. +Visit www.comcastcorporation.com for more information. + +Condensed Consolidated Statement of Income (Unaudited) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended + +  + +Twelve Months Ended + +(in millions, except per share data) + +December 31, + +  + +December 31, + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +Revenue + +$30,552 + +  + +  + +$30,336 + +  + +  + +$121,427 + +  + +  + +$116,385 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Costs and expenses + +  + +  + +  + +  + +  + +  + +  + +Programming and production + +9,807 + +  + +  + +9,880 + +  + +  + +38,213 + +  + +  + +38,450 + +  + +Other operating and administrative + +10,561 + +  + +  + +9,821 + +  + +  + +38,263 + +  + +  + +35,619 + +  + +Advertising, marketing and promotion + +2,182 + +  + +  + +2,233 + +  + +  + +8,506 + +  + +  + +7,695 + +  + +Depreciation + +2,199 + +  + +  + +2,220 + +  + +  + +8,724 + +  + +  + +8,628 + +  + +Amortization + +1,273 + +  + +  + +1,361 + +  + +  + +5,097 + +  + +  + +5,176 + +  + +Goodwill and long-lived asset impairments + +— + +  + +  + +— + +  + +  + +8,583 + +  + +  + +— + +  + +  + +26,022 + +  + +  + +25,515 + +  + +  + +107,385 + +  + +  + +95,568 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Operating income + +4,530 + +  + +  + +4,821 + +  + +  + +14,041 + +  + +  + +20,817 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Interest expense + +(974 + +) + +  + +(1,120 + +) + +  + +(3,896 + +) + +  + +(4,281 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +Investment and other income (loss), net + +  + +  + +  + +  + +  + +  + +  + +Equity in net income (losses) of investees, net + +(14 + +) + +  + +310 + +  + +  + +(537 + +) + +  + +2,006 + +  + +Realized and unrealized gains (losses) on equity securities, net + +(113 + +) + +  + +(192 + +) + +  + +(320 + +) + +  + +339 + +  + +Other income (loss), net + +242 + +  + +  + +65 + +  + +  + +(3 + +) + +  + +211 + +  + +  + +114 + +  + +  + +183 + +  + +  + +(861 + +) + +  + +2,557 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Income before income taxes + +3,670 + +  + +  + +3,885 + +  + +  + +9,284 + +  + +  + +19,093 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Income tax expense + +(797 + +) + +  + +(905 + +) + +  + +(4,359 + +) + +  + +(5,259 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +Net income + +2,873 + +  + +  + +2,980 + +  + +  + +4,925 + +  + +  + +13,833 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Less: Net income (loss) attributable to noncontrolling interests + +(150 + +) + +  + +(77 + +) + +  + +(445 + +) + +  + +(325 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +Net income attributable to Comcast Corporation + +$3,024 + +  + +  + +$3,057 + +  + +  + +$5,370 + +  + +  + +$14,159 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Diluted earnings per common share attributable to Comcast Corporation shareholders + +$0.70 + +  + +  + +$0.66 + +  + +  + +$1.21 + +  + +  + +$3.04 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Diluted weighted-average number of common shares + +4,290 + +  + +  + +4,613 + +  + +  + +4,430 + +  + +  + +4,654 + +  + +TABLE 2 + +Consolidated Statement of Cash Flows (Unaudited) + +  + +  + +  + +  + +  + +Twelve Months Ended + +(in millions) + +December 31, + +  + +2022 + +  + +2021 + +  + +  + +  + +  + +OPERATING ACTIVITIES + +  + +  + +  + +Net income + +$4,925 + +  + +  + +$13,833 + +  + +Adjustments to reconcile net income to net cash provided by operating activities: + +  + +  + +  + +Depreciation and amortization + +13,821 + +  + +  + +13,804 + +  + +Goodwill and long-lived asset impairments + +8,583 + +  + +  + +— + +  + +Share-based compensation + +1,336 + +  + +  + +1,315 + +  + +Noncash interest expense (income), net + +309 + +  + +  + +482 + +  + +Net (gain) loss on investment activity and other + +1,177 + +  + +  + +(1,311 + +) + +Deferred income taxes + +(834 + +) + +  + +1,892 + +  + +Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: + +  + +  + +  + +Current and noncurrent receivables, net + +(1,327 + +) + +  + +(1,335 + +) + +Film and television costs, net + +(451 + +) + +  + +(680 + +) + +Accounts payable and accrued expenses related to trade creditors + +497 + +  + +  + +765 + +  + +Other operating assets and liabilities + +(1,623 + +) + +  + +382 + +  + +  + +  + +  + +  + +Net cash provided by operating activities + +26,413 + +  + +  + +29,146 + +  + +  + +  + +  + +  + +INVESTING ACTIVITIES + +  + +  + +  + +Capital expenditures + +(10,626 + +) + +  + +(9,174 + +) + +Cash paid for intangible assets + +(3,141 + +) + +  + +(2,883 + +) + +Construction of Universal Beijing Resort + +(330 + +) + +  + +(976 + +) + +Acquisitions, net of cash acquired + +(12 + +) + +  + +(1,374 + +) + +Proceeds from sales of businesses and investments + +1,985 + +  + +  + +684 + +  + +Purchases of investments + +(2,274 + +) + +  + +(174 + +) + +Other + +258 + +  + +  + +451 + +  + +Net cash provided by (used in) investing activities + +(14,140 + +) + +  + +(13,446 + +) + +  + +  + +  + +  + +FINANCING ACTIVITIES + +  + +  + +  + +Proceeds from (repayments of) short-term borrowings, net + +660 + +  + +  + +— + +  + +Proceeds from borrowings + +2,745 + +  + +  + +2,628 + +  + +Repurchases and repayments of debt + +(2,307 + +) + +  + +(11,498 + +) + +Repurchases of common stock under repurchase program and employee plans + +(13,328 + +) + +  + +(4,672 + +) + +Dividends paid + +(4,741 + +) + +  + +(4,532 + +) + +Other + +786 + +  + +  + +(544 + +) + +  + +  + +  + +  + +Net cash provided by (used in) financing activities + +(16,184 + +) + +  + +(18,618 + +) + +  + +  + +  + +  + +Impact of foreign currency on cash, cash equivalents and restricted cash + +(86 + +) + +  + +(71 + +) + +  + +  + +  + +  + +Increase (decrease) in cash, cash equivalents and restricted cash + +(3,997 + +) + +  + +(2,989 + +) + +  + +  + +  + +  + +Cash, cash equivalents and restricted cash, beginning of period + +8,778 + +  + +  + +11,768 + +  + +  + +  + +  + +  + +Cash, cash equivalents and restricted cash, end of period + +$4,782 + +  + +  + +$8,778 + +  + +  + +  + +  + +  + +TABLE 3 + +Condensed Consolidated Balance Sheet (Unaudited) + +  + +  + +  + +  + +(in millions) + +December 31, + +  + +December 31, + +  + +2022 + +  + +2021 + +ASSETS + +  + +  + +  + +  + +  + +  + +  + +Current Assets + +  + +  + +  + +Cash and cash equivalents + +$4,749 + +  + +$8,711 + +Receivables, net + +12,672 + +  + +12,008 + +Other current assets + +4,406 + +  + +4,088 + +Total current assets + +21,826 + +  + +24,807 + +  + +  + +  + +  + +Film and television costs + +12,560 + +  + +12,806 + +  + +  + +  + +  + +Investments + +7,250 + +  + +8,082 + +  + +  + +  + +  + +Investment securing collateralized obligation + +490 + +  + +605 + +  + +  + +  + +  + +Property and equipment, net + +55,485 + +  + +54,047 + +  + +  + +  + +  + +Goodwill + +58,494 + +  + +70,189 + +  + +  + +  + +  + +Franchise rights + +59,365 + +  + +59,365 + +  + +  + +  + +  + +Other intangible assets, net + +29,308 + +  + +33,580 + +  + +  + +  + +  + +Other noncurrent assets, net + +12,497 + +  + +12,424 + +  + +  + +  + +  + +  + +$257,275 + +  + +$275,905 + +  + +  + +  + +  + +LIABILITIES AND EQUITY + +  + +  + +  + +  + +  + +  + +  + +Current Liabilities + +  + +  + +  + +Accounts payable and accrued expenses related to trade creditors + +$12,544 + +  + +$12,455 + +Accrued participations and residuals + +1,770 + +  + +1,822 + +Deferred revenue + +2,380 + +  + +3,040 + +Accrued expenses and other current liabilities + +9,450 + +  + +9,899 + +Current portion of long-term debt + +1,743 + +  + +2,132 + +Total current liabilities + +27,887 + +  + +29,348 + +  + +  + +  + +  + +Long-term debt, less current portion + +93,068 + +  + +92,718 + +  + +  + +  + +  + +Collateralized obligation + +5,172 + +  + +5,170 + +  + +  + +  + +  + +Deferred income taxes + +28,714 + +  + +30,041 + +  + +  + +  + +  + +Other noncurrent liabilities + +20,395 + +  + +20,620 + +  + +  + +  + +  + +Redeemable noncontrolling interests + +411 + +  + +519 + +  + +  + +  + +  + +Equity + +  + +  + +  + +Comcast Corporation shareholders' equity + +80,943 + +  + +96,092 + +Noncontrolling interests + +684 + +  + +1,398 + +Total equity + +81,627 + +  + +97,490 + +  + +  + +  + +  + +  + +$257,275 + +  + +$275,905 + +TABLE 4 + +Reconciliation from Net Income Attributable to Comcast Corporation to Adjusted EBITDA (Unaudited) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended + +December 31, + +  + +  + +Twelve Months Ended + +December 31, + +  + +  + +  + +(in millions) + +2022 + +  + +2021 + +  + +  + +2022 + +  + +2021 + +Net income attributable to Comcast Corporation + +$3,024 + +  + +  + +$3,057 + +  + +  + +  + +$5,370 + +  + +  + +$14,159 + +  + +Net income (loss) attributable to noncontrolling interests + +(150 + +) + +  + +(77 + +) + +  + +  + +(445 + +) + +  + +(325 + +) + +Income tax expense + +797 + +  + +  + +905 + +  + +  + +  + +4,359 + +  + +  + +5,259 + +  + +Interest expense + +974 + +  + +  + +1,120 + +  + +  + +  + +3,896 + +  + +  + +4,281 + +  + +Investment and other (income) loss, net + +(114 + +) + +  + +(183 + +) + +  + +  + +861 + +  + +  + +(2,557 + +) + +Depreciation and amortization + +3,472 + +  + +  + +3,581 + +  + +  + +  + +13,821 + +  + +  + +13,804 + +  + +Goodwill and long-lived asset impairments + +— + +  + +  + +— + +  + +  + +  + +8,583 + +  + +  + +— + +  + +Adjustments (1) + +(2 + +) + +  + +9 + +  + +  + +  + +13 + +  + +  + +87 + +  + +Adjusted EBITDA + +$8,000 + +  + +  + +$8,411 + +  + +  + +  + +$36,459 + +  + +  + +$34,708 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Reconciliation from Net Cash Provided by Operating Activities to Free Cash Flow (Unaudited) + +  + +Three Months Ended + +December 31, + +  + +  + +Twelve Months Ended + +December 31, + +  + +  + +  + +(in millions) + +2022 + +  + +2021 + +  + +  + +2022 + +  + +2021 + +  + +Net cash provided by operating activities + +$5,883 + +  + +  + +$7,689 + +  + +  + +  + +$26,413 + +  + +  + +$29,146 + +  + +Capital expenditures + +(3,564 + +) + +  + +(3,028 + +) + +  + +  + +(10,626 + +) + +  + +(9,174 + +) + +Cash paid for capitalized software and other intangible assets + +(989 + +) + +  + +(877 + +) + +  + +  + +(3,141 + +) + +  + +(2,883 + +) + +Free Cash Flow + +$1,330 + +  + +  + +$3,784 + +  + +  + +  + +$12,646 + +  + +  + +$17,089 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Alternate Presentation of Free Cash Flow (Unaudited) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended + +December 31, + +  + +  + +Twelve Months Ended + +December 31, + +  + +  + +  + +(in millions) + +2022 + +  + +2021 + +  + +  + +  + +2022 + +  + +  + +2021 + +  + +Adjusted EBITDA + +$8,000 + +  + +  + +$8,411 + +  + +  + +  + +$36,459 + +  + +  + +$34,708 + +  + +Capital expenditures + +(3,564 + +) + +  + +(3,028 + +) + +  + +  + +(10,626 + +) + +  + +(9,174 + +) + +Cash paid for capitalized software and other intangible assets + +(989 + +) + +  + +(877 + +) + +  + +  + +(3,141 + +) + +  + +(2,883 + +) + +Cash interest expense + +(1,072 + +) + +  + +(965 + +) + +  + +  + +(3,413 + +) + +  + +(3,908 + +) + +Cash taxes + +(1,243 + +) + +  + +(428 + +) + +  + +  + +(5,265 + +) + +  + +(2,628 + +) + +Changes in operating assets and liabilities + +(270 + +) + +  + +(442 + +) + +  + +  + +(3,006 + +) + +  + +(1,499 + +) + +Noncash share-based compensation + +346 + +  + +  + +296 + +  + +  + +  + +1,336 + +  + +  + +1,315 + +  + +Other (2) + +121 + +  + +  + +817 + +  + +  + +  + +303 + +  + +  + +1,159 + +  + +Free Cash Flow + +$1,330 + +  + +  + +$3,784 + +  + +  + +  + +$12,646 + +  + +  + +$17,089 + +  + +(1) + +4th quarter and full year 2022 Adjusted EBITDA excludes ($2) million and $13 million of other operating and administrative expenses, respectively, related to our investment portfolio. 4th quarter and full year 2021 Adjusted EBITDA excludes $9 million and $87 million of other operating and administrative expenses, respectively, related to our investment portfolio and Sky transaction-related costs. + +  + +  + +(2) + +4th quarter and full year 2022 includes decreases of ($2) million and $13 million, respectively, of costs related to our investment portfolio as these amounts are excluded from Adjusted EBITDA. 4th quarter and full year 2021 includes decreases of $9 million and $87 million, respectively, of costs related to our investment portfolio and Sky transaction-related costs. + +TABLE 5 + +  + +  + +  + +  + +Reconciliations of Adjusted Net Income and Adjusted EPS (Unaudited) + +  + +Three Months Ended + +December 31, + +  + +  + +Twelve Months Ended + +December 31, + +  + +  + +  + +  + +2022 + +  + +2021 + +  + +  + +2022 + +  + +2021 + +(in millions, except per share data) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +  + +EPS + +  + +$ + +  + +EPS + +  + +  + +$ + +  + +EPS + +  + +$ + +  + +EPS + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Net income attributable to Comcast Corporation and diluted earnings per share attributable to Comcast Corporation shareholders + +$3,024 + +  + +$0.70 + +  + +$3,057 + +  + +$0.66 + +  + +  + +$5,370 + +  + +$1.21 + +  + +$14,159 + +  + +$3.04 + +Change + +(1.1%) + +  + +6.8% + +  + +  + +  + +  + +  + +  + +(62.1%) + +  + +(60.2%) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Amortization of acquisition-related intangible assets (1) + +417 + +  + +0.10 + +  + +484 + +  + +0.10 + +  + +  + +1,771 + +  + +0.40 + +  + +1,923 + +  + +0.41 + +Investments (2) + +80 + +  + +0.02 + +  + +(37) + +  + +(0.01) + +  + +  + +681 + +  + +0.15 + +  + +(1,645) + +  + +(0.35) + +Items affecting period-over-period comparability: + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Goodwill and long-lived asset impairments (3) + +— + +  + +— + +  + +— + +  + +— + +  + +  + +8,541 + +  + +1.93 + +  + +— + +  + +— + +Income tax adjustments (4) + +— + +  + +— + +  + +— + +  + +— + +  + +  + +(286) + +  + +(0.06) + +  + +498 + +  + +0.11 + +Loss on early redemption of debt (5) + +— + +  + +— + +  + +95 + +  + +0.02 + +  + +  + +— + +  + +— + +  + +154 + +  + +0.03 + +Gains and losses related to businesses and investments (6) + +— + +  + +— + +  + +(64) + +  + +(0.01) + +  + +  + +69 + +  + +0.02 + +  + +(64) + +  + +(0.01) + +Costs related to Sky transaction (7) + +— + +  + +— + +  + +— + +  + +— + +  + +  + +— + +  + +— + +  + +20 + +  + +— + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Adjusted Net income and Adjusted EPS + +$3,520 + +  + +$0.82 + +  + +$3,534 + +  + +$0.77 + +  + +  + +$16,147 + +  + +$3.64 + +  + +$15,045 + +  + +$3.23 + +Change + +(0.4%) + +  + +6.5% + +  + +  + +  + +  + +  + +  + +7.3% + +  + +12.7% + +  + +  + +  + +  + +(1) + +Acquisition-related intangible assets are recognized as a result of the application of Accounting Standards Codification Topic 805, Business Combinations (such as customer relationships), and their amortization is significantly affected by the size and timing of our acquisitions. Amortization of intangible assets not resulting from business combinations (such as software and acquired intellectual property rights used in our theme parks) is included in Adjusted Net Income and Adjusted EPS. + +  + +Three Months Ended + +December 31, + +  + +  + +Twelve Months Ended + +December 31, + +  + +2022 + +  + +2021 + +  + +  + +2022 + +  + +2021 + +Amortization of acquisition-related intangible assets before income taxes + +$520 + +  + +$595 + +  + +  + +$2,197 + +  + +$2,376 + +Amortization of acquisition-related intangible assets, net of tax + +$417 + +  + +$484 + +  + +  + +$1,771 + +  + +$1,923 + +(2) + +Adjustments for investments include realized and unrealized (gains) losses on equity securities, net (as stated in Table 1), as well as the equity in net (income) losses of investees, net, for certain equity method investments, including Atairos and Hulu and costs related to our investment portfolio. + +  + +Three Months Ended + +December 31, + +  + +  + +Twelve Months Ended + +December 31, + +  + +2022 + +  + +2021 + +  + +  + +2022 + +  + +2021 + +Realized and unrealized (gains) losses on equity securities, net + +$113 + +  + +  + +$192 + +  + +  + +  + +$320 + +  + +($339 + +) + +Equity in net (income) losses of investees, net and other + +(7 + +) + +  + +(241 + +) + +  + +  + +582 + +  + +(1,830 + +) + +Investments before income taxes + +106 + +  + +  + +(49 + +) + +  + +  + +902 + +  + +(2,169 + +) + +Investments, net of tax + +$80 + +  + +  + +($37 + +) + +  + +  + +$681 + +  + +($1,645 + +) + +(3) + +Full year 2022 net income attributable to Comcast Corporation includes a loss of $8.6 billion related to goodwill and long-lived asset impairments in our Sky segment. The goodwill impairment was primarily not deductible for tax purposes. + +(4) + +Full year 2022 net income attributable to Comcast Corporation includes $286 million of income tax benefit related to state tax law changes. Full year 2021 net income attributable to Comcast Corporation includes $498 million of income tax expense adjustments related to UK tax law changes. + +(5) + +4th quarter and full year 2021 net income attributable to Comcast Corporation includes $126 million and $204 million of interest expense, $95 million and $154 million net of tax, resulting from the early redemption of debt. + +(6) + +Full year 2022 net income attributable to Comcast Corporation includes a loss of $96 million in other income, related to an impairment of an equity method investment, and includes a gain of $(53) million in amortization expense, $(26) million net of tax, related to the sale of a business. 4th quarter and full year 2021 net income attributable to Comcast Corporation includes a gain of $84 million in other income related to the sale of an equity method investment. + +(7) + +Full year 2021 net income attributable to Comcast Corporation includes $24 million of other operating and administrative expenses, $20 million net of tax, related to the Sky transaction. + +TABLE 6 + +Reconciliation of Sky Constant Currency Growth (Unaudited) + +  + +Three Months Ended + +December 31, + +  + +  + +Twelve Months Ended + +December 31, + +  + +  + +  + +(in millions) + +2022 + +  + +2021(1) + +  + +Change + +  + +  + +2022 + +  + +2021(1) + +  + +Change + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Direct-to-Consumer + +$3,547 + +  + +$3,542 + +  + +  + +0.2 + +% + +  + +  + +$14,621 + +  + +$14,739 + +  + +  + +(0.8 + +%) + +Content + +304 + +  + +286 + +  + +  + +6.5 + +% + +  + +  + +1,138 + +  + +1,204 + +  + +  + +(5.5 + +%) + +Advertising + +564 + +  + +624 + +  + +  + +(9.6 + +%) + +  + +  + +2,187 + +  + +2,229 + +  + +  + +(1.9 + +%) + +Revenue + +$4,416 + +  + +$4,452 + +  + +  + +(0.8 + +%) + +  + +  + +$17,946 + +  + +$18,172 + +  + +  + +(1.2 + +%) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Costs and expenses + +$4,076 + +  + +$4,052 + +  + +  + +0.6 + +% + +  + +  + +$15,420 + +  + +$16,074 + +  + +  + +(4.1 + +%) + +Adjusted EBITDA + +$340 + +  + +$401 + +  + +  + +(15.1 + +%) + +  + +  + +$2,526 + +  + +$2,099 + +  + +  + +20.3 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +(1) + +2021 results for entities reporting in currencies other than United States dollars are converted into United States dollars using the average exchange rates from the current period rather than the actual exchange rates in effect during the respective periods. + +TABLE 7 + +Reconciliation of Media Revenue Excluding Olympics, 2022 Super Bowl and 2022 FIFA World Cup (Unaudited) + +  + +Three Months Ended + +December 31, + +  + +  + +Twelve Months Ended + +December 31, + +  + +  + +  + +(in millions) + +2022 + +  + +2021 + +  + +  + +Growth % + +  + +  + +2022 + +  + +2021 + +  + +Growth % + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Revenue + +$5,979 + +  + +$5,826 + +  + +  + +2.6 + +% + +  + +  + +$23,406 + +  + +$22,780 + +  + +2.7 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Olympics + +— + +  + +— + +  + +  + +  + +  + +  + +963 + +  + +1,759 + +  + +  + +2022 Super Bowl + +— + +  + +— + +  + +  + +  + +  + +  + +519 + +  + +— + +  + +  + +2022 FIFA World Cup + +263 + +  + +— + +  + +  + +  + +  + +  + +263 + +  + +— + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Revenue excluding Olympics, 2022 Super Bowl and 2022 FIFA World Cup + +$5,716 + +  + +$5,826 + +  + +  + +(1.9 + +%) + +  + +  + +$21,662 + +  + +$21,021 + +  + +3.0 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +TABLE 8 + +Reconciliation of Consolidated Adjusted EBITDA Excluding Higher Severance (Unaudited) + +Three Months Ended + +December 31, + +(in millions) + +2022 + +  + +2021 + +Growth % + +  + +  + +  + +  + +Adjusted EBITDA + +$8,000 + +  + +$8,411 + +  + +(4.9 + +%) + +Severance + +541 + +  + +— + +  + +  + +  + +  + +  + +  + +Adjusted EBITDA excluding Higher Severance + +$8,541 + +  + +$8,411 + +  + +1.5 + +% + +  + +  + +  + +  + +Reconciliation of Cable Communications Adjusted EBITDA and Adjusted EBITDA Margin Excluding Higher Severance (Unaudited) + +  + +  + +  + +  + +Three Months Ended + +December 31, + +(in millions) + +2022 + +2021 + +Growth % + +  + +  + +  + +  + +Adjusted EBITDA + +$7,231 + +  + +$7,125 + +  + +1.5 + +% + +Adjusted EBITDA Margin + +43.5 + +% + +43.4 + +% + +  + +Severance + +305 + +  + +— + +  + +  + +  + +  + +  + +  + +Adjusted EBITDA excluding Higher Severance + +$7,536 + +  + +$7,125 + +  + +5.8 + +% + +Adjusted EBITDA Margin excluding Higher Severance + +45.3 + +% + +43.4 + +% + +  + +  + +  + +  + +  + +Reconciliation of NBCUniversal Adjusted EBITDA Excluding Higher Headquarters & Other Severance (Unaudited) + +  + +  + +  + +  + +Three Months Ended + +December 31, + +(in millions) + +2022 + +2021 + +Growth % + +  + +  + +  + +  + +Adjusted EBITDA + +$817 + +  + +$1,282 + +  + +(36.3 + +%) + +Severance + +182 + +  + +— + +  + +  + +  + +  + +  + +  + +Adjusted EBITDA excluding Higher Headquarters & Other Severance + +$999 + +  + +$1,282 + +  + +(22.1 + +%) + +  + +  + +  + +  + +Reconciliation of Sky Adjusted EBITDA Constant Currency Growth Excluding Higher Severance (Unaudited) + +  + +  + +  + +  + +Three Months Ended + +December 31, + +(in millions) + +2022 + +2021(1) + +Growth % + +  + +  + +  + +  + +Adjusted EBITDA + +$340 + +  + +$401 + +  + +(15.1 + +%) + +Severance + +53 + +  + +— + +  + +  + +  + +  + +  + +  + +Adjusted EBITDA excluding Higher Severance + +$393 + +  + +$401 + +  + +(2.0 + +%) + +  + +  + +  + +  + +(1) + +2021 results for entities reporting in currencies other than United States dollars are converted into United States dollars using the average exchange rates from the current period rather than the actual exchange rates in effect during the respective periods. + +  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230126005084/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.01.26/Comcast revenue tops estimates amid cord-cutting, muted broadband growth.txt b/news/CMCSA/2023.01.26/Comcast revenue tops estimates amid cord-cutting, muted broadband growth.txt new file mode 100644 index 0000000000000000000000000000000000000000..77abb1114eb920f063fa05dc6adf24c206d4b8a2 --- /dev/null +++ b/news/CMCSA/2023.01.26/Comcast revenue tops estimates amid cord-cutting, muted broadband growth.txt @@ -0,0 +1 @@ +Cable revenue grew 1.4% to $16.64 billion, narrowly missing analysts' estimates of $16.67 billion.Comcast lost 440,000 video subscribers in the quarter, fewer than Factset's estimated loss of 548,000, as the trend of cable TV cord-cutting continued. The company also lost 26,000 broadband customers in the quarter, compared with Factset's estimated loss of 40,000 customers. Excluding the areas affected by Hurricane Ian, which struck Florida in late September, the company reported a net gain of 4,000 broadband customers.Competition from wireless carriers such as T-Mobile US Inc and Verizon Communications Inc, which offer 5G home-internet service that users can choose instead of broadband connections, has posed a threat to cable operators like Comcast. The company has also attributed broadband subscriber declines to fewer people moving homes since a surge of movement at the start of the COVID-19 pandemic. Revenue at Comcast's NBCUniversal media unit rose 2.6%. The company reported 20 million paid subscribers to its Peacock streaming service, up from the 15 million in October.NBCU advertising sales grew 4% to $2.86 billion, and theme parks revenue grew 12% to $2.11 billion. Net income fell 1.1% to $3.02 billion in the fourth quarter.Excluding items, the company earned 82 cents per share. (Reporting by Helen Coster in New York and Eva Mathews in Bengaluru; Editing by Bradley Perrett and Arun Koyyur)By Helen Coster and Eva Mathews \ No newline at end of file diff --git a/news/CMCSA/2023.01.26/Marketmind: Parsing the peak, sidestepping a slump.txt b/news/CMCSA/2023.01.26/Marketmind: Parsing the peak, sidestepping a slump.txt new file mode 100644 index 0000000000000000000000000000000000000000..94261c0464d9b1b3f233eed771340d046c56f91b --- /dev/null +++ b/news/CMCSA/2023.01.26/Marketmind: Parsing the peak, sidestepping a slump.txt @@ -0,0 +1 @@ +There's no shortage of economic gloom about but optimists have reasons to cling to hopes of peaking interest rates and an avoidance of outright recession this year.With the U.S. Federal Reserve, European Central Bank and Bank of England all holding first policy meetings of the year next week, Wednesday's signal from the Bank of Canada that it plans to pause its aggressive rate hikes was a marker for some.The hope is that if disinflation is well underway, the other major central banks will hit their 'terminal rates' in the first half of this year too. "We are turning the corner on inflation," BoC Governor Tiff Macklem told reporters, while dismissing any thought of policy easing for now.Just how bad the underlying economy gets before the central banks are done is the other burning question. But U.S. fourth-quarter gross domestic product numbers out on Thursday should show a fairly brisk expansion continued through the back end of last year at least, even if business surveys paint a darker picture coming into this year.The PCE inflation readout from the GDP report should also underline the disinflation picture, with crude oil prices now declining year-on-year at their fastest pace in two years. Remarkably, the latest data shows annual U.S. M2 money supply shrank for the first time ever last year. On the activity side, the prospect of reviving growth in China and the euro zone certainly changes the international picture. And while forecasters expect the global economy to slow down this year, they see it skirting outright recession. Complacent or not, that picture is borne out by 2023 earnings projections in the middle of the corporate earnings season and the S&P500 full year profit outlook remains just positive, while European equivalents are actually turning up again.With all that in mind, Wall Street futures are marginally positive going into Thursday's earnings packed session after a flat to negative couple of days. The dollar briefly touched its lowest since last May. Shares in electric auto giant Tesla were up almost 8% ahead of the bell after reporting a profit and revenue beat late on Wednesday and as Chief Executive Elon Musk said the firm's aggressive price cuts have ignited demand for its EVs.Oil major Chevron stock rose 3% in after-hours trade on Wednesday after it said it would triple its budget for share buybacks to $75 billion.In Europe, STMicroelectronics jumped 8% after the chipmaker reported a sales beat and Finnish telecom equipment maker Nokia jumped 5% after its own beat. Spanish lender Sabadell also gained 8% following the management's upbeat commentary on 2024 net interest income.For the gloomsters, Britain was reliable as ever. Annual UK car production fell to the lowest in more than six decades last year, according to industry figures.Elsewhere, Adani Group said on Thursday it is evaluating "remedial and punitive action" under U.S. and Indian laws against short-seller Hindenburg Research, which in a report accused the conglomerate of improper use of offshore tax havens.In emerging markets, Pakistan's rupee fell about 7% against the dollar, two days after foreign exchange companies removed a cap on the exchange rate - a move that could help convince the International Monetary Fund to resume lending.Key developments that may provide direction to U.S. markets later on Thursday:* U.S. Q4 GDP release and core PCE estimate, Dec new home sales, Dec durable goods orders, Dec trade balance, Dec wholesale/retail inventories, weekly jobless claims, Chicago Fed Dec activity index, Kansas City Fed Jan manufacturing index* South Africa and Chile central bank policy decisions* U.S. Treasury auctions 7-year notes* U.S. corp earnings: Intel, Comcast, Visa, Mastercard, Blackstone, TRowe Price, Northrop Grumman, ADM, Dow, Eastman Chemical, American Airlines, Southwest Airlines, Alaska Air, Valero Energy, Xcel Energy, Weyerhauser, Marsh&McLennan, McCormick, Nucor etc (By Mike Dolan; Editing by Toby Chopra) \ No newline at end of file diff --git a/news/CMCSA/2023.01.26/Oscar contenders court box-office bounce as drama audiences dwindle.txt b/news/CMCSA/2023.01.26/Oscar contenders court box-office bounce as drama audiences dwindle.txt new file mode 100644 index 0000000000000000000000000000000000000000..1f1365139438c12b9498b5c4e33ba588eee83cef --- /dev/null +++ b/news/CMCSA/2023.01.26/Oscar contenders court box-office bounce as drama audiences dwindle.txt @@ -0,0 +1 @@ +After moviegoing plunged during the pandemic, audiences have returned in droves to action-packed blockbusters such as "Top Gun: Maverick" and "Avatar: The Way of Water." The "Avatar" sequel has raked in more than $2 billion, ranking as the sixth-highest grossing film of all time.Many of the Hollywood dramas targeted at adult viewers have not fared nearly as well. Some older moviegoers simply have not returned to the local megaplex, industry executives told Reuters. Others have decided to wait to stream movies that do not have a visual spectacle that pops off a big screen. Studios are now making movies available to watch at home as soon as 17 days after their theatrical debut. But filmmakers hope the publicity leading up to the Oscars in March will lure some moviegoers back to their neighborhood cinema. Box office receipts can rise as much as 75% in the weeks following a best picture nomination, according to Comscore data.Best picture nominee "Women Talking," about a religious colony grappling with a series of rapes, will expand from 153 theaters to more than 700 this weekend, according to a person familiar with the film's rollout. Its ticket sales so far total less than $1.3 million. The distributor, United Artists Releasing, planned the release strategy to coincide with this week's Oscar nominations, with the hope the movie would benefit from a box-office bounce. The move was a gamble, the person said, since nominations are never guaranteed."Tar," a best picture contender starring Cate Blanchett as a manipulative orchestra conductor, will expand to 535 theaters from 100. The movie has collected about $7.2 million at global cinemas to date.'NOT LOOKING GREAT'Even legendary director Steven Spielberg has had trouble drawing crowds to best picture nominee "The Fabelmans," his autobiographical story about family strife and anti-Semitism he faced as a teenager. Since its release in November, the film has brought in $21.8 million worldwide. "The Fabelmans" will play in 1,800 cinemas this weekend, nearly double the number from a week ago, according to a source familiar with the plans.Spielberg told Reuters earlier this month that he was concerned about the dwindling turnout for adult dramas. "But there's been some bright spots this year, some very, very bright spots where films for older people are actually getting older people out to see those films in motion picture theaters," he said. "So I'm kind of optimistic about it." One drama that has bucked the trend is Sony Corp's "A Man Called Otto" starring Tom Hanks as a grumpy older man grieving the loss of his wife. The film has pulled in more than $57 million at theaters since its late December debut. Best picture nominee "Elvis" became a hit last summer by aiming to entertain viewers of all ages, incorporating music from contemporary artists such as Doja Cat and Diplo alongside the King of Rock 'n' Roll's classic recordings. "We held very passionately the idea that we had to get volumes of young and old back into the theaters," director Baz Luhrmann said in an interview."Elvis" has collected $287.3 million at theaters. Warner Bros is re-releasing the film in movie houses this weekend after it landed eight Oscar nominations including best picture and best actor. Comcast Corp's Universal Pictures made "Tar" and "The Fabelmans" available to rent at home via premium video-on-demand even as they continued to play in theaters. The company has not disclosed revenue from those sales, though its executives have credited this strategy with lifting some films into profitability.Sarah Polley, the director of "Women Talking," said that as a moviegoer she enjoys seeing "smaller, more intimate human dramas" in theaters."I really love the feeling of sensing an audience, and sensing someone's breath or emotion, or the beginning of a laugh, or crying," she said in an interview this month."Not being able to be attuned to the others in a room is something that would make me sad if that started to disappear," she said. "It's not looking great at the moment." (Reporting by Lisa Richwine, Dawn Chmielewski, Danielle Broadway, Hanna Rantala and Alicia Powell; Editing by Mary Milliken and Diane Craft)By Lisa Richwine and Dawn Chmielewski \ No newline at end of file diff --git a/news/CMCSA/2023.01.27/Comcast : Transcript Q4 22.txt b/news/CMCSA/2023.01.27/Comcast : Transcript Q4 22.txt new file mode 100644 index 0000000000000000000000000000000000000000..133dc109691169b0b92af4fd21bcab1103e34885 --- /dev/null +++ b/news/CMCSA/2023.01.27/Comcast : Transcript Q4 22.txt @@ -0,0 +1,286 @@ + + + + + REFINITIV STREETEVENTS + + + EDITED TRANSCRIPT + + + CMCSA.OQ - Q4 2022 Comcast Corp Earnings Call + + + EVENT DATE/TIME: JANUARY 26, 2023 / 1:30PM GMT + + + OVERVIEW: + + + CMCSA reported 2022 revenue of $121.4b and adjusted EPS of $3.64. + + + REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us + + + + + ©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. + + + + + + + JANUARY 26, 2023 / 1:30PM, CMCSA.OQ - Q4 2022 Comcast Corp Earnings Call + + + C O R P O R A T E P A R T I C I P A N T S + + +Brian L. Roberts Comcast Corporation - Chairman & CEO + + +David N. Watson Comcast Corporation - President & CEO of Comcast Cable + + +Jeffrey S. Shell Comcast Corporation - CEO of NBCUniversal + + +Marci Ryvicker Comcast Corporation - EVP of IR + + +Michael J. Cavanagh Comcast Corporation - President + + + C O N F E R E N C E C A L L P A R T I C I P A N T S + + +Benjamin Daniel Swinburne Morgan Stanley, Research Division - MD + + +Brett Joseph Feldman Goldman Sachs Group, Inc., Research Division - Equity Analyst + + +Craig Eder Moffett MoffettNathanson LLC - Co-Founder, Founding Partner & Senior Research Analyst + + +Douglas David Mitchelson Crédit Suisse AG, Research Division - MD + + +Jessica Jean Reif Ehrlich Cohen BofA Securities, Research Division - MD in Equity Research + + +JohnChristopherHodulikUBS Investment Bank, Research Division - MD, Sector Head of the United States Communications Group and Telco & Pay TV Analyst Michael Ian Rollins Citigroup Inc., Research Division - MD & U.S. Telecoms Analyst + + +Philip A. Cusick JPMorgan Chase & Co, Research Division - MD and Senior Analyst + + + P R E S E N T A T I O N + + + Operator + + + Good morning, ladies and gentlemen, and welcome to Comcast's Fourth Quarter and Full Year 2022 Earnings Conference Call. (Operator Instructions) Please note that this conference call is being recorded. + + + I will now turn the call over to Executive Vice President, Investor Relations, Ms. Marci Ryvicker. Please go ahead, Ms. Ryvicker. + + +Marci Ryvicker - Comcast Corporation - EVP of IR + + + Thank you, operator, and welcome, everyone. On this morning's call are Brian Roberts, Mike Cavanagh and Jason Armstrong, who are also joined by Dave Watson, Jeff Shell and Dana Strong. Brian and Mike will make formal remarks, while Dave, Jeff and Dana will also be available for Q&A. + + + Let me now refer you to Slide 2, which contains our safe harbor disclaimer and remind you that this conference call may include forward-looking statements subject to certain risks and uncertainties. In addition, during this call, we will refer to certain non-GAAP financial measures. Please see our 8-K and trending schedules for the reconciliations of these non-GAAP financial measures to GAAP. + + + With that, let me turn the call over to Brian Roberts for his comments. Brian? + + +Brian L. Roberts - Comcast Corporation - Chairman & CEO + + + Thanks, Marci, and good morning, everyone. I'm really proud of how our team executed throughout 2022. We achieved the highest levels of revenue, adjusted EBITDA and adjusted EPS in our company's history. And we returned a record $17.7 billion of capital to shareholders - through both our recurring dividend, which we just increased for the 15th consecutive year, and robust share repurchase activity. We did all this while + + + 2 + + + REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us + + + + + ©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. + + + + + + + JANUARY 26, 2023 / 1:30PM, CMCSA.OQ - Q4 2022 Comcast Corp Earnings Call + + + accelerating investment in key growth initiatives, which are showing great progress, particularly our broadband network as we transition to 10G, but also in Xfinity Mobile, Peacock and our theme parks. + + + I attribute all this success to the incredible talent across our organization, who work collaboratively to ensure we are constantly evolving and innovating so that our customers have the absolute best experience with us at every point of interaction. What also sets us apart is our very strong balance sheet, which, when combined with the cost actions we have taken this past quarter, position us to perform well no matter what the macro environment might bring. + + + I want to start with Cable, where our financial performance both for the year and the fourth quarter confirm that: we are striking the right balance between rate and volume in residential broadband and we plan to continue to do so in 2023, that Xfinity Mobile and Comcast business remain strong growth drivers, and that we have successfully identified the appropriate mix between cutting costs to drive efficiencies, and investing for our future. We have always maintained an intense focus on providing the absolute best products and experiences, which comes down to having the highest capacity, most reliable and most efficient broadband network. + + + Our evolution to 10G and the unique way we are pursuing this through DOCSIS 4.0 is a huge benefit for our customers across the entire footprint as they will all have access to an entire ecosystem built around multi-gigabit symmetrical speeds, some as early as this year. It's also great for the company and our investors as our transition to a virtual, software-based network - infused with the marvelous AI capabilities - will not only provide tangible benefits when it comes to operating and capital expenses, but it will enable us to innovate faster than ever before, solidifying our leadership position in broadband, which is extremely important given what is certain to be continued increases in demand for both speed and usage. + + + In fact, we continue to see signs of this today. Our residential broadband-only customers are now consuming nearly 700 gigabytes of data every month. And customers on our Gigabit Plus products now comprise roughly 1/3 of our broadband subscribers. + + + In addition to creating more value from our current customer base and further penetrating the total homes and businesses that we pass today, another great opportunity is for us to extend our networks to homes and businesses in the U.S. that do not have the ability to receive our services. To that end, we increased our passings by 1.4% or 840,000 in 2022, and we expect to accelerate in 2023, where we are aiming to add around 1 million while still maintaining the same CapEx intensity level we achieved in 2022, reaching nearly 62.5 million by the end of the year. We are taking a disciplined approach, and we'll only pursue those areas that have a return profile similar to what we have been able to historically achieve. + + + Wireless is playing an integral part of our overall strategy at Cable, and it's an area where we continue to shine. This past quarter was another record in net line additions, bringing us to over 5 million total lines in just 5 years. With only 9% penetration of our current base of residential broadband customers, we have plenty of runway ahead. And we're just getting started in offering wireless to our commercial segment, which is another great example of how we are selling more products into our existing base of business customers. When you combine our broadband network, WiFi overlay and MVNO with Verizon, we are in the best position to win in convergence. We have a leg up on our competitors with a capital-light strategy that does not involve customer or network trade-offs. + + + At NBCUniversal, we are seeing some great momentum in Peacock and Parks. And - across all of NBCUniversal - our intellectual property is really resonating. We had the #2 studio in terms of worldwide box office in 2022, fueled by a strong slate, including Jurassic, Minions, Nope, Ticket to Paradise, Puss in Boots, Black Phone, Halloween, which have also had great carryover success to Peacock through our Pay-One window and select day-and-date releases. And our box office momentum continued into the first quarter with M3GAN. So, all in all, a really strong film slate. + + + Peacock ended the year with over 20 million paying subscribers, more than double where we started; and we added over 5 million paid subscribers in the fourth quarter alone. Our success was broad-based, fueled by some of the films I just mentioned, but also sporting events like the World Cup, NFL, Premier League, several new originals and our exclusive next-day broadcast of NBC and Bravo. Looking ahead, and based on our experience to date, we expect our subscriber cadence will follow our content launches, which fall more heavily in the second half of '23. And we continue to see positive trends in engagement, churn and ARPU. + + + Mark Woodbury had a fabulous first year as our CEO of the Parks business and we hit a number of new records this past quarter. It was the highest fourth quarter EBITDA for the entire segment, led by Orlando and Hollywood, and Japan had the best EBITDA performance since 2019. This was + + + 3 + + + REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us + + + + + ©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. + + + + + + + JANUARY 26, 2023 / 1:30PM, CMCSA.OQ - Q4 2022 Comcast Corp Earnings Call + + + driven by attendance that far surpassed pre-pandemic levels at all 3 parks. And while attendance at our park in Beijing was significantly impacted by COVID in 2022, we are seeing some exciting demand to start the year. + + + Given the excellent returns we have generated to date, we continue to seek ways to expand our Parks and I'm really excited about our 2 recently announced extensions: the first Universal Park designed specifically for younger audiences near Dallas and the first year-round horror entertainment experience in Las Vegas. These are new innovative ways to utilize our substantial IP, including from DreamWorks and Illumination, while also extending our brand, both of which should help fuel growth in all of our parks. + + + In our linear video business, we are managing subscriber declines by taking a disciplined approach to our cost base. We are continuing to invest in our global technology platform, and you will see a number of announcements from us in the weeks and months ahead. For example, in 2023, we will launch one global user interface for Sky Glass, Xfinity, X1, Flex, Xumo and our U.S. and international partners. Every entertainment customer around the world will get the same Emmy Award-winning, voice controlled experience. This scale not only brings us operational efficiencies, but it also puts us in the enviable position when it comes to conversations with distributors, OEMs, programmers, app developers and talent. + + + At Sky, we are managing through the macroeconomic challenges in Europe, while staying intensely focused on retention and continuing to provide our customers with the best entertainment and connectivity experiences. We're seeing some encouraging results. In the U.K., Sky Glass had the top-selling UHD TV model; Sky Mobile is the fastest-growing mobile provider, surpassing 3 million lines; and we are narrowing the gap between us and the current #1 broadband provider, with Sky Broadband now sitting at over 6.5 million subscribers. + + + Wrapping up, our consistently strong financial performance, healthy balance sheet and record high return of capital to shareholders underscore how the scale, capabilities and talent across our company enable us to successfully execute our long-term growth strategy. I'm convinced we are on the right path and that we have the right team to capture our many opportunities and overcome whatever challenges happen along the way. + + + So before handing over the call, I want to congratulate Jason Armstrong, recently promoted to Chief Financial Officer, succeeding Mike Cavanagh. I could not be more confident in the leadership team's ability to continue to drive us forward and create more value for our shareholders. Mike, over to you. + + +Michael J. Cavanagh - Comcast Corporation - President + + + Thanks, Brian, and good morning, everyone. First, I'd like to just say that it's been a pleasure serving as CFO of Comcast for the last 7-plus years. And I couldn't be prouder to have Jason be my successor, knowing that - with Jason - the financial leadership of our company is in proven and expert hands. Since Jason didn't take over as CFO until early in the new year, I will handle the CFO portion of this call and hand it over to Jason for the first quarter call in April. + + + So now I'll begin on Slides 4 and 5 to discuss our consolidated 2022 financial results. Revenue increased just under 1% to $30.6 billion for the fourth quarter and 4.3% to $121.4 billion for the full year. Adjusted EBITDA decreased 4.9% to $8 billion for the fourth quarter and increased 5% to $36.5 billion for the full year. The quarterly results include severance expenses booked in each of our businesses, totaling $638 million, which is $541 million higher than the prior year period. Excluding this increase, adjusted EBITDA increased 1.5% in the fourth quarter and 6.6% for the full year. + + + Adjusted EPS increased 6.5% to $0.82 a share for the fourth quarter and 13% to $3.64 for the full year. And we generated $1.3 billion of free cash flow for the fourth quarter and $12.6 billion for the full year, while absorbing increased investments in Peacock and Theme Parks as well as higher working capital as content creation normalizes post COVID. + + + Now let's turn to our business segment results, starting with Cable Communications on Slide 6. Cable revenue increased 1.4% to $16.6 billion. EBITDA increased 1.5% to $7.2 billion, and Cable EBITDA margins improved 10 basis points year-over-year to 43.5%. These results include $345 million of severance expense, which is $305 million higher compared to last year's fourth quarter. Excluding severance, Cable EBITDA increased 5.8%, and Cable EBITDA margin improved by 190 basis points to a record high of 45.3%. + + + 4 + + + REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us + + + + + ©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. + + + + + + + JANUARY 26, 2023 / 1:30PM, CMCSA.OQ - Q4 2022 Comcast Corp Earnings Call + + + These strong results also included the impact of Hurricane Ian in Southwest Florida, which resulted in the loss or severe damage to many homes we serve in this market. Excluding the hurricane impacts, we would have added approximately 4,000 broadband customers versus the 26,000 loss we reported. And we estimate that we would have lost approximately 36,000 customer relationships versus the 71,000 we reported. Overall, our broadband customer results in the fourth quarter were fairly consistent with the prior 2 quarters, reflecting lower levels of new customer connections, offset by churn, which remained well below 2019 levels. + + + Now let's discuss Cable financials in more detail. Cable revenue growth of 1.4% was driven by higher broadband, wireless, business services and advertising revenue, partially offset by lower video and voice revenue. Broadband revenue increased 5.4%, driven by growth in ARPU and in our customer base when compared to last year. Broadband ARPU increased 3.8% year-over-year when adjusting for some COVID-related customer credits last year. This organic ARPU growth is similar to the growth we've generated over the last couple of quarters and is consistent with our strategy. + + + We are focused on optimizing our customer relationships by consistently adding more capabilities, services and value so as to provide the best broadband experience, which has and should continue to deliver broadband ARPU growth. The elements of growth this quarter include increased rate, attaching more customers to higher tiers as well as other services. We expect ARPU growth will continue to be the primary driver of our residential broadband revenue growth in 2023. + + + Wireless revenue increased 25%, mainly driven by service revenue, which was fueled by growth in customer lines. We added 1.3 million lines in 2022, including 365,000 lines in the fourth quarter, which is our highest number of net additions for any quarter on record. + + + Business services revenue increased 4.6%, which includes the results of Masergy in both this quarter and in the prior year period, as we lapped the closing of this acquisition at the beginning of the quarter. Revenue growth was primarily driven by rate, including customers taking faster data speeds, higher attach rates of our advanced products and rate increases on some of our services. + + + Advertising revenue increased 9.1%, driven by strong political revenue, partially offset by the absence of advertising revenue that is now part of Xumo, our joint venture with Charter. Adjusting for those items, Cable advertising revenue decreased 1.6%, reflecting a decline in our local core advertising business, partially offset by solid growth at our advanced advertising business. + + + Video revenue declined 5.6%, driven by year-over-year customer net losses, partially offset by ARPU growth of 5.8% due to a residential rate increase we implemented at the beginning of 2022. And last, voice revenue declined 13%, primarily reflecting year-over-year customer losses. + + + Turning to expenses. Cable Communications fourth quarter expenses increased 1.4%, reflecting higher non-programming expenses, which included the $305 million in higher severance costs, partially offset by lower programming expenses. Programming expenses decreased 5.9%, reflecting the year-over-year decline in video customers, partially offset by higher contractual rates. Non-programming expenses, which, again include $305 million in higher severance costs, increased 5.6%. Excluding severance, these expenses were flat compared to last year, reflecting an increase in bad debt as we returned to more normalized pre-pandemic levels, and increased technical and product support expenses driven by growth in our wireless business. These were offset by a decline in marketing and promotion and customer service expenses due to lower activity levels, efficiencies in running the business and improvements we continue to make in our customer experience. + + + Our focus on growing our high-margin connectivity businesses, coupled with our focus on increasing operating efficiency and cost controls, drove strong EBITDA growth and margin expansion in 2022. Excluding the higher severance expense, we grew full year EBITDA by 5.7% and increased EBITDA margins by 110 basis points to 44.8%. We believe that our disciplined approach to running the business, including the benefits from our cost reduction efforts this quarter, position us to drive higher profitability and further expand margins both in 2023 and thereafter. + + + Now let's turn to Slide 7 for NBCUniversal. Starting with total NBCUniversal results, fourth quarter revenue increased 5.9% to $9.9 billion, and EBITDA decreased 36% to $817 million, including $182 million of severance expense in the quarter. Excluding severance, EBITDA decreased 22%. Media revenue increased 2.6% to $6 billion, mainly driven by Peacock, which nearly doubled its revenue to $660 million, and Telemundo's broadcast of the World Cup. + + + 5 + + + REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us + + + + + ©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Comcast Corporation published this content on 27 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 January 2023 08:33:07 UTC. + + diff --git a/news/CMCSA/2023.01.31/Exclusive-Warner Bros Discovery licenses movies and TV shows to Roku, Tubi.txt b/news/CMCSA/2023.01.31/Exclusive-Warner Bros Discovery licenses movies and TV shows to Roku, Tubi.txt new file mode 100644 index 0000000000000000000000000000000000000000..95c7dd3835a810915aab47c0016302c3c4f82ef4 --- /dev/null +++ b/news/CMCSA/2023.01.31/Exclusive-Warner Bros Discovery licenses movies and TV shows to Roku, Tubi.txt @@ -0,0 +1 @@ +The deals include the science-fiction western "Westworld," the reality series "Cake Boss," and reality dating series "F-Boy Island", the companies said, as Warner Bros seeks new ways to monetize its library of film and TV content. The streamers announced Tuesday they plan to use the content to launch Warner Bros-branded free, ad-supported TV (or FAST) channels. Tubi said it plans 11 channels organized by genre, such as "WB TV Sweet Escapes," to feature baking competitions, and three more organized by type of programming - series, reality and family. The deal marks an evolution of Warner Bros Discovery's approach to streaming, which once reserved the studio's movies and series for the HBO Max subscription service. Now, the studio has begun selling movies and TV shows to third parties.For the first nine months of 2022, Warner Bros Discovery's streaming business, which includes HBO Max, lost $1.38 billion.The studio is seeking to capitalize on a growing segment of the streaming universe, which industry executives see as complementing subscription streaming services. One researcher, nScreen Media, estimates ad revenue on FAST channels could reach $4.1 billion this year."It is the fastest growing segment of the viewing economy," said Evan Shapiro, a veteran television executive. "There are people who think it's basically going to eclipse cable before too long."AMC Networks Inc, Comcast Corp's NBCUniversal and the National Hockey League have launched FAST channels over the last year. The FAST channels are consistent with Zaslav's desire to license the studio's content more broadly, say people familiar with the matter, and mine its deep library of film and television content to generate cash.Zaslav told investors the company plans to "aggressively" tackle ad-supported streaming with its own FAST streaming service in the mold of Paramount Global's Pluto TV. "We have a unique opportunity to increase our addressable market and drive value, and we intend to move quickly," he said during the November quarterly investor call. "Stay tuned."As of September, Warner Bros Discovery said it had 94.9 million combined subscribers across its HBO Max and Discovery+ streaming services, far fewer than Netflix Inc or Walt Disney Co. The media company continues to invest in technology, content and promotions, even as it reports losses associated with a restructuring and writedowns tied to the merger. (Reporting by Dawn Chmielewski in Los Angeles; Editing by Lincoln Feast)By Dawn Chmielewski \ No newline at end of file diff --git a/news/CMCSA/2023.02.01/Havas Media North America Selects FreeWheel as Preferred Supply-Side Platform Partner f...txt b/news/CMCSA/2023.02.01/Havas Media North America Selects FreeWheel as Preferred Supply-Side Platform Partner f...txt new file mode 100644 index 0000000000000000000000000000000000000000..13ea4b2514f9e00092d60588e4b578b9faf218eb --- /dev/null +++ b/news/CMCSA/2023.02.01/Havas Media North America Selects FreeWheel as Preferred Supply-Side Platform Partner f...txt @@ -0,0 +1,21 @@ + +Havas Media Group (HMG) North America today announced that it has selected FreeWheel, a global technology platform for the television advertising industry, as a preferred supply-side platform (SSP) partner for premium video inventory. + +As part of this agreement, FreeWheel will now serve as one of Havas Media’s preferred SSP partners for premium video inventory spanning connected television (CTV), programmatic guaranteed and standard private marketplace (PMP) deals that the agency holding company purchases on behalf of its U.S. clients. + +“In our selection of an SSP partner, we sought a company that understood and championed a better approach to driving innovation in the TV ad ecosystem, as well as our commitment to creating and driving meaningful media strategies for our brands in North America,” said Tom Grant, SVP, Group Director, Investment Operations, Havas Media Group. “FreeWheel stood out as a leader in this respect, through its big picture, future minded approach in delivering on results via premium video inventory for marketers, streamlining the media supply chain, and industry leading transparency. We are very much looking forward to working with them to advance programmatic CTV buying for our clients.” + +FreeWheel will work with HMG NA to scale premium CTV campaigns for advertisers. This integration provides marketers with several key benefits, such as: + +“This collaboration brings together two like-minded partners who recognize and deeply value the importance of solving for some of today’s most pressing industry needs, including driving greater scale and transparency, simplifying complexities and delivering for our clients,” said Katy Loria, Chief Revenue Officer, FreeWheel. “We are thrilled to be working with Havas Media Group and look forward to collaborating to make the premium video ecosystem better.” + +About FreeWheel + +FreeWheel empowers all segments of The New TV Ecosystem. We are structured to provide the full breadth of solutions the advertising industry needs to achieve their goals. We provide the technology, data enablement and convergent marketplaces required to ensure buyers and sellers can transact across all screens, across all data types, and all sales channels, in order to ensure the ultimate goal – results for marketers. With offices in New York, San Francisco, Chicago, London, Paris, Beijing, and across the globe, FreeWheel, A Comcast Company, stands to advocate for the entire industry through the FreeWheel Council for Premium Video. For more information, please visit freewheel.com, and follow us on Twitter and LinkedIn. + +About Havas Media Group + +Havas Media Group (HMG) is the media experience agency. HMG delivers this brand promise through the Mx System, where meaningful media helps build more meaningful brands. HMG is part of the Havas Group, owned by Vivendi, one of the world's largest integrated content, media, and communications groups. HMG also consists of two global media networks: Havas Media and Arena Media. The media experience agencies are home to more than 10,000 specialists across 150 countries worldwide, with 62 Villages. Global clients include Hyundai Kia, Puma, TripAdvisor, Michelin, Telefónica, Reckitt Benckiser, among many others. + +For more information, visit the website or follow Havas Media Group on Twitter @HavasMedia, LinkedIn @Havas Media Group, Facebook @HavasMedia or Instagram @havas. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005823/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.02.02/Comcast Hosts Community Event and Makes a $50,000 Contribution to Santa Cruz Non-Profit...txt b/news/CMCSA/2023.02.02/Comcast Hosts Community Event and Makes a $50,000 Contribution to Santa Cruz Non-Profit...txt new file mode 100644 index 0000000000000000000000000000000000000000..f339e5df273cebdb4dd53fe553bf25ce07b1588c --- /dev/null +++ b/news/CMCSA/2023.02.02/Comcast Hosts Community Event and Makes a $50,000 Contribution to Santa Cruz Non-Profit...txt @@ -0,0 +1 @@ +(via NewsDirect)As Santa Cruz County works to recover and rebuild from the recent historic rainstorms that caused massive flooding, downed trees, landslides and other devastation, Comcast yesterday hosted a free event to support the community and made a $50,000 donation to the United Way of Santa Cruz and Community Bridges of Santa Cruz.“The Santa Cruz area has suffered so much from the recent storms – the devastation has been heart wrenching to experience and witness,” said Ray Cancino, CEO, Community Bridges. “This partnership and financial support from Comcast is coming at the ideal time and will provide important, valuable resources as the community strives to get back on its feet.”“We appreciate Comcast hosting yesterday’s event. It was so nice to enable this hard-hit community to take a break, come together and support each other, while having some fun.” said Keisha Browden, CEO, United Way of Santa Cruz County. “Comcast’s financial contribution to our community will help us not only expand our recovery efforts but also help us rebuild from this catastrophic disaster.”A unique feature at the Scotts Valley community event was the Xfinity Experience trailer, which features a 12 foot by 18-foot LED screen on which the movies Sing 2 and Minions: Rise of Gru were screened. The trailer also enabled free WiFi access and power so attendees could get online and charge their devices. Attendees can enjoy free food and beverages from local restaurants and there will be raffles with a variety of door prizes and special giveaways.Throughout the series of dangerous and severe storms, Comcast provided a range of services to evacuation and community support centers in Northern and Central California. Comcast’s network and engineering technicians monitored the storms’ impacts and worked diligently to restore Xfinity and Comcast Business services that were impacted as quickly and safely as possible so customers could stay connected.Comcast also made available for free use by anyone its 147,000 public Xfinity WiFi hotspots throughout Northern and Central California. This helped residents and emergency personnel stay connected during the rainstorms.# # #About Comcast CorporationComcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information.Adriana Arvizo+1 925-200-1919Adriana_Arvizo@comcast.comCopyright (c) 2023 TheNewswire - All rights reserved.Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases \ No newline at end of file diff --git a/news/CMCSA/2023.02.06/Comcast Signs Agreements With State : Joint $50 Million Investment Will Bring Fiber Netwo...txt b/news/CMCSA/2023.02.06/Comcast Signs Agreements With State : Joint $50 Million Investment Will Bring Fiber Netwo...txt new file mode 100644 index 0000000000000000000000000000000000000000..b4af211a2f7e90a6337f876c2d32b6a7fcb432ce --- /dev/null +++ b/news/CMCSA/2023.02.06/Comcast Signs Agreements With State : Joint $50 Million Investment Will Bring Fiber Netwo...txt @@ -0,0 +1,15 @@ + +Comcast has signed contracts with Indiana’s Office of Community & Rural Affairs (OCRA) to bring gigabit-capable broadband service to unserved parts of Indiana. The initial finalized agreements will enable Comcast to build to rural, unserved portions of Allen, Bartholomew, Carroll, Cass, Delaware, Fayette, Hendricks, Jennings, Johnson, Hamilton, Huntington, La Porte, Madison, Marshall, Montgomery, Morgan, Porter, Starke and Wayne counties. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230206005155/en/Comcast has signed contracts with Indiana’s Office of Community & Rural Affairs (OCRA) to bring gigabit-capable broadband service to unserved parts of Indiana. (Photo: Business Wire) +Under Indiana’s Next Level Connections Broadband Grant Program, Comcast is partnering with the state and local governments to build and deliver fast, reliable broadband service to more than 10,000 homes and businesses across 19 counties. The projects will deploy 1,200 miles of fiber to unserved rural portions of Indiana. Under this latest phase of Next Level Connections grants, Comcast is investing $36 million in conjunction with the state’s $13.6 million to expand its network. + +This partnership builds upon Comcast’s ongoing commitment to bridging Indiana’s rural digital divide. Over the past three years, Comcast expanded and enhanced its network and product offering to reach more residents and businesses across the state, connecting communities like Darlington, Tell City, and Thorntown with gigabit-capable speeds. In that time, Comcast has also invested more than $500 million to strengthen and expand its Indiana network. + +“Next Level Connections is used as a model by other states to deliver the best tech infrastructure to rural areas,” said Indiana Lt. Gov. Suzanne Crouch, who also serves as Secretary of Agriculture and Rural Development. “The investments made by Comcast and other partners will not only benefit residents and businesses but also contribute to Indiana’s rural economic engine.” + +“Ensuring all Hoosiers have access to reliable, high-speed internet has been a top priority for Comcast,” said Joni Hart, vice president of Government Affairs for Comcast in Indiana. “As the world we live in becomes increasingly digital, we remain focused on not only bringing our broadband network to more Indiana homes and business, but also meeting the ever-increasing appetite for education, business, telemedicine, entertainment and more.” + +Now that these contracts with the State of Indiana are signed, Comcast will immediately start work on the multiple pre-construction priorities of these expansion projects. The company anticipates having its gigabit-capable, fiber-to-the-home network expansion completed within two years. + +As each build is complete, residential customers will be able to take advantage of Xfinity’s full suite of internet products, including the company’s Internet Essentials program that provides low-cost, high-speed broadband service to income-constrained households. Since its inception in 2011, the program has connected more than 440,000 students, parents, veterans and seniors in Indiana. Comcast also participates in the federal government’s Affordable Connectivity Program (ACP), which provides qualifying households a $30 monthly credit toward internet and mobile services. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230206005155/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.02.09/Comcast Accelerates Nation's Largest and Fastest Multi-Gig Rollout with Latest Xfinity ...txt b/news/CMCSA/2023.02.09/Comcast Accelerates Nation's Largest and Fastest Multi-Gig Rollout with Latest Xfinity ...txt new file mode 100644 index 0000000000000000000000000000000000000000..5d36110b866246caeff4e07db96ebb3311913bec --- /dev/null +++ b/news/CMCSA/2023.02.09/Comcast Accelerates Nation's Largest and Fastest Multi-Gig Rollout with Latest Xfinity ...txt @@ -0,0 +1,20 @@ + +Today, Comcast accelerates the nation’s largest and fastest multi-gig deployment and announced that its latest Xfinity 10G network upgrade will be launched to 10 million homes and businesses by the end of this month. These locations now have the foundational network enhancements in place to begin deploying DOCSIS 4.0, setting the stage for the introduction of new symmetrical multi-gigabit Internet options before the end of 2023 that can be delivered across existing networks with less cost. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230209005564/en/Comcast Accelerates Nation’s Largest and Fastest Multi-Gig Rollout with Latest Xfinity 10G Network Upgrade For 10 Million Homes and Businesses (Graphic: Business Wire) +To date, and ahead of schedule, more than 40 markets across Comcast service areas have implemented network improvements including Atlanta, Boston, Chicago, Denver, Houston, Miami, Philadelphia, Salt Lake City, Seattle, San Francisco, Washington D.C., and others. The full deployment of these technical capabilities will reach more than 50 million homes and businesses by 2025. In addition to fast speeds, DOCSIS 4.0 technologies will deliver even greater reliability and capacity to power multiple data-intensive applications. + +“Streaming live sports, 4K gaming, hybrid work, and virtual reality have gone mainstream in just a few years, and gig speeds, capacity, reliability, and low latency are key factors making our connectivity experience superior to the competition,” said Dave Watson, CEO, Comcast Cable. “Our definition of reliability has to shift from merely being always-on, to powering multiple data-intensive applications across dozens of devices, and the investments we are making in our network are creating immediate benefits for our customers.” + +WiFi Boost Guarantee and Storm-Ready WiFi  +The company also unveiled plans to rollout new WiFi features in the coming months that build upon its industry-leading service reliability with a guarantee offer that increases support for in-home WiFi, and a new device with cellular and battery backup to help keep customers connected even when the power goes out. + +Low Latency Features  +For applications like gaming, virtual reality, and videoconferencing where lower latency is increasingly important, later this year Comcast will also unveil new low latency features that will enable an even better experience than they have today. + +Recently, Comcast accelerated the transformation of its network to a virtualized, cloud-based architecture that is fully prepared for the emergence of more robust 10G technologies and DOCSIS 4.0. This network architecture enables Comcast to deliver symmetrical, multi-gigabit speeds to both residential and business customers, which technically limited fixed wireless providers are unable to deliver. Comcast’s ongoing network evolution also furthers its commitment to provide a cleaner, greener Internet by doubling network energy efficiency by 2030. We estimate this will avoid the equivalent amount of electricity needed to power a half a million homes for a year. + +The significant advances Comcast has made over the past 24 months, including several world firsts, coupled with one of the world’s first WiFi 6E gateways and powerful Xfinity Pod WiFi extenders, are delivering a revolutionary connectivity experience that is powering Comcast homes. At this critical time in the nation’s broadband deployment, Comcast’s continued advancement of new 10G technologies will position it as the clear leader for years to come. + +About Comcast Corporation  +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005564/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.02.09/Comcast Announces Premiere of Two Documentaries Showcasing the Stories of Diverse Entre...txt b/news/CMCSA/2023.02.09/Comcast Announces Premiere of Two Documentaries Showcasing the Stories of Diverse Entre...txt new file mode 100644 index 0000000000000000000000000000000000000000..ea939d61cae971c8fc728ffbaf65441373950efc --- /dev/null +++ b/news/CMCSA/2023.02.09/Comcast Announces Premiere of Two Documentaries Showcasing the Stories of Diverse Entre...txt @@ -0,0 +1,29 @@ + +Comcast is excited to announce two documentaries highlighting the stories of underrepresented entrepreneurs premiering during Black History Month. On February 16, the second season of the docuseries “Founding in Color,” presented by Comcast NBCUniversal LIFT Labs, will be available for audiences nationwide on Peacock and Black Experience on Xfinity. “The Road to RISE” will premiere on February 16. Both documentaries feature the stories of diverse founders from around the country at different stages – from startups to small businesses – discussing their personal journeys to becoming entrepreneurs and what it takes to succeed as a founder of color in America today. This is part of Comcast’s commitment to championing, advancing, and empowering diverse voices. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230209005171/en/(Photo: Comcast) +“At Comcast, we are committed to amplifying the voices of diverse founders – during Black History Month and throughout the year – through various avenues,” said Loren Hudson, Senior Vice President and Chief Diversity Officer, Comcast Cable. “We are proud of the work that our teams have done to produce both “Founding in Color” and “The Road to RISE.” We are excited to share these unique and important stories with viewers across the country and inspire the next wave of game-changing entrepreneurs.” + +About “Founding in Color: Season Two” + +Created by Comcast NBCUniversal LIFT Labs and REVOLT’s creative agency #000000, “Founding in Color” is a three-part series that dives into the entrepreneurial journeys of 11 Black and Latino founders. These entrepreneurs get candid about the challenges they face and how they’ve had to dig deep to navigate race, identity, and other complexities to survive as founders in America today. + +Season Two of “Founding in Color” was produced by Comcast NBCUniversal LIFT Labs’ Aize Asowata, Senior Marketing Manager, and Jeanette Pierce, Senior Director of Marketing Communications; in addition to REVOLT’s Andre Woolery, Senior Vice President of Branded Content, and Bree Balogun, Vice President of Account Management. + +About “The Road to RISE” + +“The Road To RISE” is an inspiring documentary that follows the lives of four small business owners - all on a journey to achieve big dreams. From Chicago to Philly, we stop in four different cities to see how underrepresented entrepreneurs find success: + +Comcast NBCUniversal LIFT Labs brings startups and Comcast NBCUniversal together to share insights, test solutions, and develop strategic long-term partnerships. The team connects founders with leaders across Comcast NBCUniversal to explore and build next-generation technologies and products that impact our customers, employees, and communities. + +In November 2020, Comcast launched Comcast RISE, a national effort to strengthen and empower local small businesses hardest hit by the economic impacts of the COVID-19 pandemic — focusing initially on small business owners of color, recognizing that these entrepreneurs were among the hardest hit. + +Through Comcast RISE, Comcast provided over $110 million in monetary, marketing, and technology grants to small businesses owned by people of color and women and met its goal of supporting 13,000 small businesses nationwide by the end of 2022. + +For additional information on season two of “Founding in Color” and the founders featured, please visit www.foundingincolor.com. To watch season one or season two, simply say “Founding in Color” into the Xfinity Voice Remote. + +For additional information and updates on Comcast RISE, please visit www.comcastrise.com. To watch the documentary, simply say “Comcast RISE” into the Xfinity Voice Remote. + +About Comcast Corporation + +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005171/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.02.09/Comcast Issues $1 Billion Green Bond to Fund Clean Energy, Infrastructure Projects.txt b/news/CMCSA/2023.02.09/Comcast Issues $1 Billion Green Bond to Fund Clean Energy, Infrastructure Projects.txt new file mode 100644 index 0000000000000000000000000000000000000000..4cb6020d65efa8a9a27fbb4eb95400b2696a08e2 --- /dev/null +++ b/news/CMCSA/2023.02.09/Comcast Issues $1 Billion Green Bond to Fund Clean Energy, Infrastructure Projects.txt @@ -0,0 +1,27 @@ + +Comcast today announced the issuance of a $1 billion 10-year green bond, offering investors the opportunity to support environmental efforts such as those currently underway or under consideration as part of Comcast’s goal to be carbon neutral by 2035. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230209005521/en/Comcast technician monitors solar array (Photo Credit: Comcast) +Proceeds from the green bond may be allocated to five investment areas, all of which contribute to Comcast's efforts to reduce its carbon footprint, including renewable energy, energy efficiency, green buildings, campuses, communities and cities, clean transportation, and circular economy adapted products, production technologies and processes. Comcast’s Green Financing Framework provides details on eligible green investments in these categories, in addition to the processes for project selection and progress reporting. + +"We’re excited to have offered investors the opportunity to join us as we scale clean energy technologies and other decarbonization strategies across our business,” said Sara Cronenwett, Senior Vice President of Corporate Strategy and Environmental Sustainability at Comcast. “These investments bring great value to the broader community of Comcast shareholders, employees, and customers by helping to foster a cleaner, healthier environment.” + +As part of its goal to be carbon neutral by 2035, Comcast’s environmental efforts have included: + +Comcast worked with S&P Global Ratings to obtain an independent second party opinion on the Green Financing Framework, which concluded the framework is aligned with the ICMA Green Bond Principles (2021) and LMA/LSTA/APLMA Green Loan Principles (2021). + +“We’re pleased that our inaugural green bond offering was largely led and underwritten by four nationally recognized minority-, women-, and service-disabled veteran-owned investment banking firms with whom Comcast has a strong historical relationship,” said Jason Armstrong, Chief Financial Officer and Treasurer for Comcast Corporation. “We value the role these firms play and are delighted to have partnered with them on such an important transaction for Comcast.” + +BofA Securities, Inc. was sole Green Structuring Agent, an Active Bookrunner, and a Coordinator for the minority- and women-owned broker-dealers on the transaction. Also leading the green bond as active bookrunners were service-disabled veteran-owned Academy Securities, Inc., African-American-owned Loop Capital Markets LLC, Hispanic-owned Samuel A. Ramirez & Company, Inc., and African-American- and women-owned Siebert Williams Shank & Co., LLC. All 10 co-managers on the transaction were diversity firms. + +“The strong response from investors to Comcast’s inaugural green bond offering highlights the market’s positive view of the company and appetite for this type of security structure,” said Andrew Karp, head of Global Sustainable Banking Solutions Group at BofA Securities, Inc. + +For more information on Comcast’s environmental efforts, visit the environment page at www.comcastcorporation.com. + +About Comcast Corporation + +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. + +Forward-Looking Statements + +This press release includes statements that may constitute forward-looking statements. In evaluating these statements, you should consider various factors, including the risks and uncertainties we describe in the “Risk Factors” section of our most recent Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission (“SEC”). Factors that could cause our actual results to differ materially from these forward-looking statements include changes in and/or risks associated with: the competitive environment; consumer behavior; the advertising market; programming costs; consumer acceptance of our content; key distribution and/or licensing agreements; use and protection of our intellectual property; our reliance on third-party hardware, software and operational support; keeping pace with technological developments; cyber attacks, security breaches or technology disruptions; weak economic conditions; acquisitions and strategic initiatives; operating businesses internationally; natural disasters, severe weather-related and other uncontrollable events; loss of key personnel; laws and regulations; adverse decisions in litigation or governmental investigations; labor disputes; and other risks described from time to time in reports and other documents we file with the SEC. There are also certain risks and challenges we may face in meeting our environmental goals that are beyond our control, including political, economic, regulatory and geopolitical conditions, the evolution of carbon offset markets, limited large-scale investments and innovations in technology and infrastructure, and supply chain and labor issues. The inclusion of forward-looking statements that may address our corporate responsibility initiatives, progress, plans and goals in this press release is not an indication that they are necessarily material to investors or required to be disclosed in our filings with the SEC. Such statements may contain estimates, make assumptions based on developing standards that may change and provide aspirations and commitments that are not intended to be promises or guarantees. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made, and involve risks and uncertainties that could cause actual events or our actual results to differ materially from those expressed in any such forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005521/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.02.09/Peltz ends Disney proxy fight as Iger launches restructuring.txt b/news/CMCSA/2023.02.09/Peltz ends Disney proxy fight as Iger launches restructuring.txt new file mode 100644 index 0000000000000000000000000000000000000000..edc0ce26d4b6e9a38262089ea71580cfb26f8596 --- /dev/null +++ b/news/CMCSA/2023.02.09/Peltz ends Disney proxy fight as Iger launches restructuring.txt @@ -0,0 +1 @@ +Peltz stirred the pot for what appeared to be a boardroom battle brewing at the Magic Kingdom, after he demanded the company reorganize and focus on creativity while criticizing its bungled succession planning.Peltz's Trian Fund, after Third Point's Daniel Loeb, pushed the company to make changes after the pandemic crushed its parks business and forced it to increase expenditure to weed out competition in the streaming industry.Here is what happened since Iger retired in 2020: Date Event Feb. 25, Iger retires after 15 years as CEO, handing the 2020 reins to Disney Parks head Bob Chapek; Iger assumes post of executive chairman Sept. 29, Disney says it will lay off about 28,000 parks 2020 unit employees due to coronavirus hit Oct. 7, Activist investor Daniel Loeb urges Disney to 2020 forgo paying a dividend and use the cash to make and buy more programming for Disney+ Oct. 12, Disney restructures its media and entertainment 2020 businesses to accelerate growth of Disney+ Feb. 28, Disney pauses film releases in Russia over 2022 Ukraine invasion March 4, Disney says it will offer a cheaper, 2022 ad-supported version of Disney+ March 10, Disney pauses all business in Russia 2022 May 16, Third Point liquidates its position in Disney 2022 during the first quarter, two years after the hedge fund first invested and began urging the media company to spend more aggressively on its streaming platform May 16, Florida Governor Ron DeSantis says he wants the 2022 state to take control of Disney's special district when it is scheduled to be dissolved in June 2023 June 9, Chief Executive Bob Chapek announces a major 2022 leadership shift, promoting Dana Walden to chairman of general entertainment content June 28, Disney board unanimously votes to extend Chief 2022 Executive Officer Bob Chapek's contract for three years Aug. 15, Third Point discloses a stake of roughly $1 2022 billion and said it plans to push the media company to make a string of changes Sept. 11, Third Point's Daniel Loeb backs off from 2022 pushing Walt Disney Co to spin off ESPN Sept. 14, Comcast Corp Chief Executive Brian Roberts 2022 signals to Disney the company will seek market value for its minority stake in Hulu Sept. 30, Disney announces a truce with activist investor 2022 Third Point, saying it would appoint tech and media veteran Carolyn Everson to the board Nov. 8, Disney reports higher streaming customers, but 2022 high costs disappoint investors Nov. 11, The company plans to freeze hiring and cut some 2022 jobs, according to a memo seen by Reuters Nov. 21, Bob Iger returned to Disney as chief executive 2022 less than a year after he retired, in a surprise comeback Nov. 28, Iger says one of his top priorities was to make 2022 the company's streaming business profitable Dec. 8, The ad-supported version of the Disney+ service 2022 launches, attracting major advertisers from different sectors Jan. 12, Activist investor Nelson Peltz formally 2023 launches a battle for board seat at Disney Jan. 17, Disney in a letter to shareholders defends its 2023 board for denying Peltz a seat, saying he "lacks the skills and experience" to help the company Feb. 8, Announces a restructuring, 7,000 2023 job cuts as part of Disney's efforts to save $5.5 billion in costs and make its streaming business profitable Feb. 9, Peltz declares that his proxy fight is over 2023 (Reporting by Akash Sriram and Tiyashi Datta in Bengaluru; Editing by Sriraj Kalluvila) \ No newline at end of file diff --git a/news/CMCSA/2023.02.10/Comcast Partners With National Skills Coalition To Close the Digital Skill Divide.txt b/news/CMCSA/2023.02.10/Comcast Partners With National Skills Coalition To Close the Digital Skill Divide.txt new file mode 100644 index 0000000000000000000000000000000000000000..c868bdc2624549d894e3de0798915d9ef3ef6e12 --- /dev/null +++ b/news/CMCSA/2023.02.10/Comcast Partners With National Skills Coalition To Close the Digital Skill Divide.txt @@ -0,0 +1 @@ +WASHINGTON - Comcast announced a partnership with the National Skills Coalition (NSC) to educate local, state, and national decision makers about the benefits of the new Bipartisan Infrastructure Law to promote digital equity and opportunity nationwide. The initiative aims to help close the digital skill divide that is currently limiting educational and employment opportunities for nearly 50 million Americans.NSC received a $200,000 grant from Comcast to help state leaders bridge existing workforce development programs with federal Broadband Equity, Access, and Deployment Program (BEAD) and Digital Equity Act (DEA) funding. Digital skills are now required across virtually every industry and occupation, yet nearly one in three U.S. workers lack the foundational digital skills necessary to enter and thrive in today's workforce, with workers of color and those earning lower wages disproportionately affected. These programs represent a once-in-a-generation investment in closing the digital skills gap equitably."If local, state, and federal decisionmakers fully understand its potential - and if workforce and broadband offices work together on its implementation - this federal investment in digital equity could have a profound impact on closing the digital skill divide for tens of millions of America's workers," said Andy Van Kleunen, NSC CEO. "We're grateful to Comcast for their partnership in making that happen."When digital skills grow, our economy grows.DALILA WILSON-SCOTTEVP and Chief Diversity Officer of Comcast Corporation and President of the Comcast NBCUniversal Foundation"The demand for digital skills exists across every industry and throughout the workforce. That's why we're proud to partner with the National Skills Coalition to help ensure more local and national leaders are aware of and take advantage of public sector digital equity funds to invest in the skill development programs that are critical to closing our country's digital divide," said Dalila Wilson-Scott, EVP and Chief Diversity Officer of Comcast Corporation and President of the Comcast NBCUniversal Foundation.As part of the Bipartisan Infrastructure Law passed by Congress in 2021, states have recently begun to receive historic federal investments in digital equity through the $42 billion BEAD program and the $2.75 billion DEA.BEAD funding will help states expand access to broadband, digital devices, and digital skills in unserved or under-served communities. BEAD also invests in training local workers to install and maintain new broadband infrastructure in their communities. Complementary, DEA will provide grants to states to support a range of digital inclusion activities, including digital skill building and efforts to advance awareness of adoption programs such as the Affordable Connectivity Program.In addition to the grant, NSC and Comcast will partner on research, communications, and trainings that highlight best practices for implementing federal digital inclusion funding. The work will engage federal, state and local officials; state workforce and digital inclusion advocates; and national equity organizations.Comcast's partnership with the National Skills Coalition is part of Project UP, the company's comprehensive initiative to advance digital equity and help build a future of unlimited possibilities..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/CMCSA/2023.02.15/Comcast Opens New Xfinity Store in Edmonds.txt b/news/CMCSA/2023.02.15/Comcast Opens New Xfinity Store in Edmonds.txt new file mode 100644 index 0000000000000000000000000000000000000000..b66c01bb915cac9a8692bdbce79ed9235c57497c --- /dev/null +++ b/news/CMCSA/2023.02.15/Comcast Opens New Xfinity Store in Edmonds.txt @@ -0,0 +1 @@ +(via NewsDirect)Comcast has opened a new Xfinity store in Edmonds to meet the needs of its local customers in Snohomish County. Located at 23623 Highway 99, Suite A, Edmonds, WA 98026, the 1,425 square foot store features an interactive design and provides a destination for visitors to experience the complete line of Xfinity products and services – from smart home security solutions to Xfinity Mobile and Supersonic WiFi, which is capable of delivering speeds faster than 1 Gbps, as well as Comcast Business services.Visitors to the store can engage with a dedicated team of knowledgeable sales consultants to learn more about their current services or devices, to see firsthand how Xfinity apps make it easy for them to manage their accounts, to sign up for all Xfinity services, address any service needs and to return or acquire equipment. In addition to offering Comcast’s industry-leading consumer products and services, the new store provides Edmonds and Snohomish County residents with a convenient retail location to receive customer support, turn in used equipment, pay their bill and more.People visiting Xfinity stores can also speak with sales consultants about the federal government's Affordable Connectivity Program (ACP), which provides eligible low-income residents with $30 per month toward their internet or mobile bills – including all Xfinity Internet plans, Xfinity Mobile and Internet Essentials.For local businesses interested in the latest in internet and technology solutions, the store has a dedicated space for Comcast Business customers and prospects to discuss their business technology needs with a subject matter expert.The new Xfinity Store is the latest example of the company’s continued investment made in Washington state. Comcast has invested approximately $1B in technology and infrastructure in Washington during the last three years, including expansion and upgrades to its network. As a result, more than 2.8 Washington homes and businesses have access to Xfinity and Comcast Business products and services, including speeds of 1.2 gigs or more from our reliable network.Store InformationThe new Edmonds Xfinity store is open Mon.-Sat. 10am-8pm and Sun. 11 a.m. - 6p.m.About Comcast CorporationComcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on broadband, aggregation, and streaming with over 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information.ComcastJack Follmanjack_follman@comcast.comhttps://washington.comcast.com/Copyright (c) 2023 TheNewswire - All rights reserved.Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases \ No newline at end of file diff --git a/news/CMCSA/2023.02.16/Comcast Central Division Promotes Sophia Marshall to Senior Vice President of Division ...txt b/news/CMCSA/2023.02.16/Comcast Central Division Promotes Sophia Marshall to Senior Vice President of Division ...txt new file mode 100644 index 0000000000000000000000000000000000000000..78e513cf8735001c92ac7e53dc22dc3f169b7548 --- /dev/null +++ b/news/CMCSA/2023.02.16/Comcast Central Division Promotes Sophia Marshall to Senior Vice President of Division ...txt @@ -0,0 +1,19 @@ + +Comcast has announced that Sophia Marshall has been promoted to Senior Vice President of Communications for Comcast's Central Division, headquartered in Atlanta, Georgia. An award-winning strategist, Marshall elevates to the position after serving as the Vice President of Communications and will continue to lead and drive the Division's internal and external communications strategy. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230216005302/en/Comcast Central Division Promotes Sophia Marshall to Senior Vice President of Division Communications (Photo: Business Wire) +“Sophia has played an integral role in enabling our Division priorities with a unified storytelling approach,” said Comcast Central Division President Christine Whitaker. “Her experience in building teams that deliver a compelling and cohesive story across digital and traditional channels continues to bolster our reputation as a trusted brand.” + +From corporate identity and culture to thought leadership and reputation management, Marshall has more than 22 years of experience developing and leading integrated communications programs for leading brands. + +Prior to joining Comcast, Sophia served as Company Officer and Vice President of Communications for Wellstar, one of Georgia’s largest and most integrated health systems. As Chief Communicator, Sophia developed and led communications strategy, public relations, and crisis communications during healthcare’s most challenging period garnering earned media coverage worth more than $20 million in a single year. + +Sophia has led multiple communications programs for national and global brands, including Serta Simmons Bedding, GE Industrial Solutions, and GE Power, where she served as Executive Director of CEO & Global Culture Communications. She has also held leadership roles in brand, employee communications, and public relations for NASCO, Albany State University, and UPS. + +A lifelong learner and avid volunteer, Sophia holds a Bachelor of Arts degree in English from Albany State University and a Master of Science in Technical & Professional Communication from Kennesaw State University. Sophia resides in the greater Atlanta area with her family, dedicating her spare time to mentoring young girls and women. + +About Comcast Corporation + +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on broadband, aggregation, and streaming with over 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, Peacock, NBC News, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and + +Asia. Visit www.comcastcorporation.com for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005302/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.02.20/Comcast Plans Major Network Expansion in Texas.txt b/news/CMCSA/2023.02.20/Comcast Plans Major Network Expansion in Texas.txt new file mode 100644 index 0000000000000000000000000000000000000000..d6643fdbfa69289d39fdf5c5c0d7de05de20163e --- /dev/null +++ b/news/CMCSA/2023.02.20/Comcast Plans Major Network Expansion in Texas.txt @@ -0,0 +1 @@ +(via NewsDirect)Comcast announced today it will significantly expand its next-generation network, the Xfinity 10G Network, in a major way across several southeast Texas counties in 2023. The media and technology company said it will invest more than $100 million to install at least one thousand miles of new fiber-rich highways that will reach up to 80,000 homes and businesses by the end of this year. The planned expansions add to Comcast’s ongoing $2.8 billion investment in Texas over the last three years.Network expansion efforts will begin in Kingwood, Pinehurst, Prairie View, Waller, New Caney and Conroe. Construction will continue in other communities that have ongoing network infrastructure builds in the Houston area.Construction has started in Kingwood, which will be the largest expansion of the year; it is expected to be complete by the end of 2023 and will reach nearly 24,000 Kingwood homes and businesses. These locations will have the foundational next-generation network in place to begin deploying DOCSIS 4.0, setting the stage for the introduction of new symmetrical multi-gigabit Internet options.“We will bring our fiber-rich network to twice the number of homes and businesses this year compared to the number we passed last year,” said Ralph Martinez, Senior Regional Vice President of Comcast’s Texas Region. “Southeast Texas’ rural and suburban communities have been growing fast, and we are building out our next-generation Comcast network in tandem with the growth. We will continue to expand to even more rural communities in the next few years.”Once complete, Comcast, the nation’s largest provider of 1.2 Gigabit per second speeds, will give consumers access to reliable and fast Xfinity Internet and Xfinity Mobile service that outperforms its competitors. Comcast engineers have also developed multiple artificial intelligence and machine learning technologies that make the network faster and more reliable while delivering up to 100 Gbps for Comcast Business customers. In addition, Comcast’s next-generation technology provides multiple layers of security that automatically detect and block hundreds of thousands of cyber events every second, and a Smart Network that automates many core network functions and dramatically reduces the number of outages.“Access to reliable internet and telecommunications services is something that we cannot go without in our day-to-day activities,” said Houston Mayor Pro-Tem and Kingwood resident, Dave Martin. “Comcast and their new construction project in Kingwood is a perfect example of a business working to bridge the gap to connect more people to much-needed services while increasing accessibility to much-needed services and their dependability. I appreciate Comcast’s partnership and commitment to District E.”Comcast is also committed to addressing digital equity in communities we serve, through Project UP, the company’s $1 billion dollar commitment to help tens of millions of people connect to the internet and build futures of unlimited possibilities. Last year, Comcast Texas invested more than one million dollars to help local community organizations provide personalized digital skills training, offer workforce development/readiness workshops and other tech education to students, adults, and people with disabilities. The funding also supports ongoing efforts to build awareness about connectivity programs like Internet Essentials and the federal government’s Affordable Connectivity Program (ACP), which offers eligible households up to $30/month credit, or up to $75 for households on tribal lands, for home Internet. Comcast proudly participates in the Affordable Connectivity Program, and offers Internet Essentials Plus, a $29.95/month home Internet service that is effectively free for eligible households, once the ACP credit is applied. Interested customers can visit Xfinity.com/ACP or call 1-800-Xfinity to learn more about this program and find out if they qualify.For more construction details and updates, visit ComcastTexas.com/Expansion.Powered by the Xfinity 10G NetworkComcast’s next-generation network and Internet experience are powering homes today and into the future:· Ultimate Capacity:Xfinity customers connect nearly 1 billion devices across the company’s network annually. The Xfinity 10G Network with the next-generation Xfinity gateways deliver the most advanced WiFi technology carrying three times more bandwidth to power streaming, gaming, videoconferencing, and more, simultaneously.· Fastest Internet:10 million+ Xfinity Internet customers subscribe to gigabit speed products, and Ookla rated Xfinity the fastest Internet provider at the end of 2022*. Symmetrical gig speeds to the first homes are planned for later this year.· Unprecedented Coverage:The latest Xfinity Gateway provides a more reliable connection throughout the home. Customers can get wall-to-wall WiFi coverage with a powerful xFi Pod that extends coverage to hard-to-reach areas, with plans for an offering of increased support for in-home WiFi through a “boost guarantee” later this year.· Most Reliable Connection:Comcast is scaling the nation’s largest and most reliable network – the Xfinity 10G Network – that passes 60 million homes and business and counting. The company plans to launch a new device that is “storm-ready” with cellular and battery backup to help keep customers connected even when the power goes out.· Ultra-Low Latency: The Xfinity 10G Network and the latest xFi Gateway are a powerful combination that deliver ultra-low latency for those moments when response times matter most like video games, a fast-growing category with Xfinity households averaging more than one gaming console per home.For local businesses, Comcast Business offers a suite of connectivity, communications, networking, cybersecurity, wireless, and managed solutions to help organizations of different sizes prepare for what’s next. Powered by the nation’s largest Gig-speed broadband network, and backed by 24/7 customer support, Comcast Business is the nation’s largest cable provider to small and mid-size businesses and one of the leading service providers to the Enterprise market. Comcast Business has been consistently recognized by industry analysts and associations as a leader and innovator, and one of the fastest-growing providers of Ethernet services.Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information.Ookla’s SpeedtestTM Market Index report shows that Xfinity delivered the fastest median download speeds to its Internet customers in the United States for the final quarter of 2022.ComcastSteve Campion+1 832-920-2001Steve_Campion@Comcast.comhttps://houston.comcast.com/Copyright (c) 2023 TheNewswire - All rights reserved.Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases \ No newline at end of file diff --git "a/news/CMCSA/2023.02.21/Comcast Wins Technology & Engineering Emmy\302\256 Award for Sports Viewing Innovation.txt" "b/news/CMCSA/2023.02.21/Comcast Wins Technology & Engineering Emmy\302\256 Award for Sports Viewing Innovation.txt" new file mode 100644 index 0000000000000000000000000000000000000000..844f736e6ea5d1cbc0afabe5b8164acab29c6de2 --- /dev/null +++ "b/news/CMCSA/2023.02.21/Comcast Wins Technology & Engineering Emmy\302\256 Award for Sports Viewing Innovation.txt" @@ -0,0 +1,19 @@ + +Comcast today announced it has received a Technology & Engineering Emmy® Award for building and delivering innovative sports viewing experiences for millions of customers across Xfinity, Sky and Peacock. The National Academy of Television Arts and Sciences recognized Comcast for using artificial intelligence and machine learning to provide viewers an easy way to catch up on key moments from live sporting events. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230216005641/en/COMCAST WINS TECHNOLOGY & ENGINEERING EMMY® AWARD FOR SPORTS VIEWING INNOVATION (Photo: Business Wire) +These innovations are made possible by Comcast’s VideoAITM technology. A core component of Comcast’s global technology platform, VideoAI analyzes video streams in real-time and detects key moments using various audio, visual and textual cues. For sports, these include points/goals, penalties, and other major moments. As the live event unfolds, indexed highlights are compiled as they happen into an interactive experience, giving viewers an easy way to play through all the biggest moments, whether they plan to join live or just want a quick summary of the most important highlights after the event has concluded. + +“VideoAI is a transformative technology, giving us the ability to rethink how we deliver innovative entertainment experiences to our global customers,” said Fraser Stirling, Global Chief Product Officer, Comcast. “This incredible honor by the Academy is a tremendous acknowledgement of the work happening across Comcast to drive this innovation forward and ultimately deliver better experiences for our customers.” + +As an adaptive and agile technology, VideoAI enables the teams at Xfinity, Sky and Peacock to customize the solution to meet the unique needs of their customers and the sports they serve. The technology currently powers: + +Additionally, Comcast Technology Solutions is now offering the technology to customers as part of its product suite, producing actionable metadata to drive a continuously expanding number of use cases, from content discovery to contextual advertising. + +About Comcast Corporation + +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. + +About The National Academy of Television Arts & Sciences + +The National Academy of Television Arts & Sciences (NATAS) is a non-profit service organization dedicated to the advancement of the arts and sciences of television and the promotion of creative leadership for artistic, educational, and technical achievements within the television industry. It recognizes excellence in television with the coveted Emmy® Awards for Children’s & Family, Daytime, News & Documentary, and Sports television programming, as well as achievements in television Technology & Engineering. NATAS membership consists of nearly 18,000 broadcast and media professionals represented in 19 regional chapters across the country. For more information go to www.theemmys.tv +View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005641/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.02.21/Comcast to Participate in Deutsche Bank Investor Conference.txt b/news/CMCSA/2023.02.21/Comcast to Participate in Deutsche Bank Investor Conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..95b7a45ae0b320daca52c6a7f27067a20ebbafeb --- /dev/null +++ b/news/CMCSA/2023.02.21/Comcast to Participate in Deutsche Bank Investor Conference.txt @@ -0,0 +1,10 @@ + +Comcast Corporation (Nasdaq: CMCSA) announced that on Monday, February 27, 2023, Jason Armstrong, Chief Financial Officer & Treasurer of Comcast Corporation, will participate in the 31st Annual Deutsche Bank Media, Internet & Telecom Conference. + +A live webcast of the event will be available on the Company's Investor Relations website at www.cmcsa.com on Monday, February 27, 2023, at 8:50 A.M. Eastern Time. An on-demand replay will be available shortly after the conclusion of the presentation. + +To automatically receive Comcast financial news by e-mail, please visit www.cmcsa.com and subscribe to E-mail Alerts. + +About Comcast Corporation +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005790/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.02.21/Comcast to Participate in Morgan Stanley Investor Conference.txt b/news/CMCSA/2023.02.21/Comcast to Participate in Morgan Stanley Investor Conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..3dd06189e0a400346b68fec9d46d620cb564b3e9 --- /dev/null +++ b/news/CMCSA/2023.02.21/Comcast to Participate in Morgan Stanley Investor Conference.txt @@ -0,0 +1,11 @@ + +Comcast Corporation (Nasdaq: CMCSA) announced that on Wednesday, March 8, 2023, Mike Cavanagh, President of Comcast Corporation, will participate in the Morgan Stanley Technology, Media & Telecom Conference. + +A live webcast of the event will be available on the Company's Investor Relations website at www.cmcsa.com on Wednesday, March 8, 2023, at 11:35 A.M. Eastern Time. An on-demand replay will be available shortly after the conclusion of the presentation. + +To automatically receive Comcast financial news by e-mail, please visit www.cmcsa.com and subscribe to E-mail Alerts. + +About Comcast Corporation + +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005794/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.02.21/Northwest African American Museum and Comcast Announce Partnership for Children's Book.txt b/news/CMCSA/2023.02.21/Northwest African American Museum and Comcast Announce Partnership for Children's Book.txt new file mode 100644 index 0000000000000000000000000000000000000000..728ad5ef63268979697d7734772527db3f855e33 --- /dev/null +++ b/news/CMCSA/2023.02.21/Northwest African American Museum and Comcast Announce Partnership for Children's Book.txt @@ -0,0 +1 @@ +(via NewsDirect)Comcast is announcing, through the commission of the Northwest African American Museum, a children’s book curated for children in grade school titled Hakeem’s Song to be released later in 2023. In honor of Black History Month, Comcast is donating $35,000 to develop, publish, distribute, and promote the book by recognized author, educator, and poet laureate, Dr. Mona Lake Jones, known affectionally as “Grandhoney” to children and the community is authoring.Hakeem's Song encourages self-esteem, celebration of Black identity, inclusion, and compassion. The content of the book is being developed for a primary grade reading audience and will be distributed to students in Seattle Public Schools and beyond.Hakeem’s Songwill be officially released in 2023, with author readings at Seattle Public Schools and book giveaways. The book continues a partnership between Comcast and the Northwest African American Museum.“Being able to create a children’s book from scratch which shares a meaningful story for children in Seattle is a dream come true. We are so thankful Comcast is helping us bring this vision to life,” said LaNesha DeBardelaben, president and CEO of Northwest African American Museum.“Addressing education disparities in our communities, especially with communities of color, is a significant priority for Comcast in Washington state and Seattle. The Northwest African American Museum is a pillar of the community for showcasing African American art, culture, and history in the Pacific Northwest and an incredible community partner to work with,” said Diem Ly, Community Impact and External Affairs director, Comcast.The author of Hakeem’s Song, Dr. Mona Lake Jones, has served as the poet laureate for the City of Seattle and King County. Her experience as a community activist coupled with her writing talent and presentation skills has gained her a national reputation. She has several published books and is described by The Seattle Times as “Maya Angelou of the Pacific Northwest.”This effort is part of Comcast NBC Universal’s Black History Month celebration honoring Black changemakers. This month and all year long, Comcast NBCUniversal is honoring Black changemakers by highlighting how innovators of the past have paved the road for culture shifters today and beyond. By highlighting Black business owners, sharing the stories of civil rights activists, investing in organizations that promote digital equity and economic mobility for Black youth and adults, and much more, Comcast is helping to create a future of unlimited possibilities.About Northwest African American MuseumThe Northwest African American Museum (NAAM) is a regionally prestigious institution housed in the historic Colman School within Seattle's Central District. Since opening in 2008, hundreds of thousands of visitors have come to the museum to view exhibitions, participate in dynamic public programs, and take part in private events. As a premier African American museum in the region, NAAM fills a void in the regional cultural scene by offering a space where community members come to reflect, to gain perspective, to learn, listen, and heal. NAAM uses Black history, art, and culture as a starting point that inspires, empowers, and informs all visitors about ourselves and our shared past. NAAM's mission is to spread knowledge, understanding, and enjoyment of the histories, arts, and cultures of people of African descent for the enrichment of all.About Comcast CorporationComcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on broadband, aggregation, and streaming with over 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information.Jack Follmanjack_follman@comcast.comhttps://washington.comcast.com/Copyright (c) 2023 TheNewswire - All rights reserved.Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases \ No newline at end of file diff --git a/news/CMCSA/2023.02.21/UK regulator questions Sky, ITV over news coverage of woman's death.txt b/news/CMCSA/2023.02.21/UK regulator questions Sky, ITV over news coverage of woman's death.txt new file mode 100644 index 0000000000000000000000000000000000000000..f0851186753b8c8df7af0e6ec255c6a3f506cdc5 --- /dev/null +++ b/news/CMCSA/2023.02.21/UK regulator questions Sky, ITV over news coverage of woman's death.txt @@ -0,0 +1 @@ +Bulley, a mother of two who went missing by a river in northern England last month, was confirmed dead on Monday. Her family said Sky News and ITV had not respected a request for privacy.While police had said throughout their investigation that there was no evidence of anything untoward or any third party involvement, day-to-day developments were widely reported in Britain and debated on social media."We are extremely concerned to hear the comments made by the family of Nicola Bulley about two broadcast licensees," Ofcom said referring to London-listed ITV, and Sky, which is owned by the U.S. media firm Comcast.Ofcom has written to the broadcasters asking them to explain their actions and will then assess whether further action is required.ITV and Sky did not immediately respond when Reuters approached them separately for a comment.On Monday the family issued a statement through local police: "We tried last night to take in what we had been told in the day, only to have Sky News and ITV making contact with us directly when we expressly asked for privacy.""It is shameful they have acted in this way. Leave us alone now." (Reporting by Muvija M; editing by William James) \ No newline at end of file diff --git a/news/CMCSA/2023.02.22/Analyst recommendations: Autonation, Comcast, Home Depot....txt b/news/CMCSA/2023.02.22/Analyst recommendations: Autonation, Comcast, Home Depot....txt new file mode 100644 index 0000000000000000000000000000000000000000..6e397acc64fd467a242ef0c8982375885cc063e9 --- /dev/null +++ b/news/CMCSA/2023.02.22/Analyst recommendations: Autonation, Comcast, Home Depot....txt @@ -0,0 +1,11 @@ + +  +Autonation: Guggenheim Securities raised the target to $181 from $169. Maintains buy rating. +Comcast: KGI Securities downgrades to neutral from outperform. PT up 8.4% to $41. +Dillard's: J.P. Morgan downgrades to underweight from neutral. PT down 20% to $286. +Home Depot: D.A. Davidson & Co cut the target to $306 from $334. Maintains neutral rating. +InterContinental Hotels: Deutsche Bank downgrades to hold from buy and increases the price target to 58.50 pounds sterling from 57.30 pounds. +Manhattan Associates: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $145. +Martin Marietta: On Field Investment Research upgrades to neutral from underperform. PT up 21% to $436. +Nordson: KeyBanc Capital Markets upgrades to overweight from sector weight. PT up 20% to $255. +Vulcan Materials: On Field Investment Research upgrades to neutral from underperform. PT up 33% to $241. diff --git a/news/CMCSA/2023.02.22/Comcast takes advantage of AI rally to sell more BuzzFeed shares.txt b/news/CMCSA/2023.02.22/Comcast takes advantage of AI rally to sell more BuzzFeed shares.txt new file mode 100644 index 0000000000000000000000000000000000000000..c781ea0f5b69ca7ecc6ff6fe961089d3f6b55ea5 --- /dev/null +++ b/news/CMCSA/2023.02.22/Comcast takes advantage of AI rally to sell more BuzzFeed shares.txt @@ -0,0 +1 @@ +A regulatory filing by Comcast on Tuesday showed in the past few days it has sold 522,000 more BuzzFeed shares, taking the total shares sold since Jan. 30 to more than 11 million and reducing its stake to 15.5% from 24%.Shares of BuzzFeed, which were trading at 69 cents at the close of 2022, surged as high as $4.25 in January following media reports of a multi-million dollar content deal with Meta Platforms Inc and plans to use OpenAI's ChatGPT.BuzzFeed, which is known for its online quizzes, was hit by a wave of redemptions in 2022 as businesses cut down on ad spending on concerns over a slowing economy.Retail investor interest in AI-related shares have been rising since last month after OpenAI drew a multi-billion dollar investment from Microsoft Corp. NBCUniversal, Comcast's entertainment unit, had invested $200 million in BuzzFeed in 2015 and injected another $200 million in 2016, valuing the company at around $1.7 billion.As of Tuesday's close, BuzzFeed had a market value of about $250 million. Its shares were down 0.5% before the opening bell on Wednesday, while Comcast fell 0.7%. (Reporting by Eva Mathews in Bengaluru and Lance Tupper in New York; Editing by Arun Koyyur) \ No newline at end of file diff --git a/news/CMCSA/2023.02.22/FreeWheel Appoints David Dworin Chief Product Officer and Quentin SaLay Head of Human R...txt b/news/CMCSA/2023.02.22/FreeWheel Appoints David Dworin Chief Product Officer and Quentin SaLay Head of Human R...txt new file mode 100644 index 0000000000000000000000000000000000000000..6b94a7ced7ac4fdd0669c87e89465d4fdc026229 --- /dev/null +++ b/news/CMCSA/2023.02.22/FreeWheel Appoints David Dworin Chief Product Officer and Quentin SaLay Head of Human R...txt @@ -0,0 +1,26 @@ + +Today, FreeWheel announced two leadership appointments: David Dworin as chief product officer and Quentin SaLay as head of human resources. + +In their respective new roles, Dworin will oversee FreeWheel’s product vision, strategy, design and development worldwide, and SaLay is responsible for leading human resources globally in support of the company’s overall business plan and strategic direction. + +“Television advertising is constantly evolving, and to ensure that FreeWheel continues to pioneer and innovate new solutions that address the industry’s needs, we need to be led by the best of the best,” said FreeWheel General Manager Mark McKee. “These two leaders embody the mindset, drive, energy and passion we need to take the company forward. David is a highly collaborative and insightful team and industry leader; and Quentin brings a strong background in moving the needle on workplace culture, change and results within the technology sector.” + +David Dworin, Chief Product Officer +Since Dworin joined FreeWheel in May 2017, he has played a pivotal role in its transformation to a global platform company that is building the future of advertising technology. He was most recently vice president, product management, during which he led FreeWheel’s enablement of programmatic for premium video and the focus on connecting buyers and sellers to execute trusted, efficient and effective advertising transactions across multiple screens. He also formerly headed up FreeWheel’s global advisory services practice (the company’s consulting arm) and trust and standards team, which works to improve industry trust through ongoing accreditation, compliance and marketplace quality initiatives. In his new role, he reports to McKee. + +Dworin brings a background in entrepreneurship, strategy and consulting. Before FreeWheel, he ran a consulting practice that helped technology and services companies grow and scale their businesses. At StrategyOne (now Edelman Data x Intelligence), he led marketing, strategic business development and organizational change. For Gallup, he spearheaded a global transformation in the company’s consulting business. + +Dworin earned a Master of Science in Information from the University of Michigan, with a specialization in Information Economics, and Bachelors Degrees in Political Science and International Studies from Michigan State University. + +Quentin SaLay, Head of Human Resources +SaLay, who was most recently vice president of human resources for Comcast Cable’s Beltway Region, is now overseeing human resources for FreeWheel globally. He reports to Tracey Kopper-Hourin, Senior Vice President of Human Resources at Comcast Advertising. + +Since SaLay joined Comcast in February 2005, he has built highly collaborative teams that have consistently delivered results by aligning HR strategic initiatives with business goals, resulting in increased levels of employee engagement and business results. He has held various senior HR roles at Comcast, including vp of HR for Comcast Technology Solutions (CTS), where his business acumen and leadership helped CTS drive significant growth. He was also key player in the establishment of the Comcast India Engineering Center (CIEC). + +SaLay is a graduate of the University of Maryland, with a bachelor of science in psychology and a master’s degree in social psychology. He is also an alumnus of the Wharton School of Business Executive Education program and the Darden School of Business NAMIC (National Association for Multi-Ethnicity in Communications) Executive Leadership Development Program. SaLay holds a global MBA from the Fletcher School of Business at Tufts University. + +About FreeWheel +FreeWheel empowers all segments of The New TV Ecosystem. We are structured to provide the full breadth of solutions the advertising industry needs to achieve their goals. We provide the technology, data enablement and convergent marketplaces required to ensure buyers and sellers can transact across all screens, across all data types and all sales channels, in order to ensure the ultimate goal – results for marketers. + +With offices in New York, San Francisco, Chicago, London, Paris, Beijing and across the globe, FreeWheel is a part of Comcast Corporation, a global media and technology company. It stands to advocate for the entire industry through the FreeWheel Council for Premium Video. For more information, please visit freewheel.com, and follow us on Twitter and LinkedIn. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230222005262/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.02.22/Here we go again.txt b/news/CMCSA/2023.02.22/Here we go again.txt new file mode 100644 index 0000000000000000000000000000000000000000..cd98ea7e149754dd45e7799c786090cd4cff0057 --- /dev/null +++ b/news/CMCSA/2023.02.22/Here we go again.txt @@ -0,0 +1,31 @@ + +The return to work after the long weekend was a bit brutal yesterday on Wall Street, with a drop of 2% for the S&P500, -2.06% for the Dow Jones and -2.4% for the Nasdaq 100. Only the most defensive segments of the market held up. In finance, the companies perceived as the most defensive are those that will continue to sell commodities when consumers have cut the superfluous. Specifically, yesterday, food, gas and beer sellers. Add to this weapon manufacturers, after the further deterioration of relations between the West and Russia, after Vladimir Putin's decision to suspend a nuclear weapon control treaty. + +The lack of appetite for risk assets prolongs a phase of doubt that has been building over the past week. The powerful rebound following the annus horribilis 2022 was based on two pillars: the recovery of the Chinese economy and the proximity of the end of the Fed's rate hike cycle. At the moment, the Chinese reopening has not delivered its promises, while the Fed's supposed victory over inflation doesn't look so clear anymore. This victory was personalized by the decline in price increases and several macroeconomic indicators showing that the economic overheating was cooling. The problem is that these indicators have tended to stabilize, or even accelerate for some in recent days. As a result, the big bet that investors would return to a looser monetary policy is now fading. Yesterday, the US PMI indicators were quite clearly above expectations, a further signal of caution for the market, on the grounds that good news for the economy is not necessarily good news for finance, which prefers low rates to any other scenario. +The yield on US 10-year debt jumped to 3.94% yesterday, whereas it was 50 points lower not so long ago. This means that the market expects the Fed Funds rate to rise to more than 5.3% this summer, whereas the expectation was still 4.9% at the beginning of February. Investors now believe the Fed will raise rates beyond what they feared and the debate is still open about how long the rates will stay high. That's not good news for stocks. Nor for bonds, some of which have lost almost all of their 2023 gains (bond prices move inversely to their yield). +Today, earnings releases continue with some big names like Nvidia, Pioneer Natural Resources and eBay. Investors are trading cautiously this morning ahead the publication of the minutes of the last Fed meeting (3:00 pm), and Wall Street's three main indices are flat. In other news, the yield on Japanese public debt has settled for the second day above the theoretical ceiling set by the Bank of Japan. Washington is threatening to sanction Chinese companies that support Russia's invasion of Ukraine and oil is contracting in a market that doubts the global economic momentum ahead. +  +Economic highlights of the day: +The Fed will release the minutes of its last meeting at 3pm. All the agenda is here. Hong Kong's GDP contracted by 3.5% in 2002, while the city is aiming for growth between 3.5 and 5.5% this year. +The dollar is up 0.2% to EUR 0.9408 and GBP 0.8275. The ounce of gold is worth USD 1,835. Oil is chipping away, with North Sea Brent at USD 82.18 per barrel and U.S. WTI light crude at USD 75.70. The yield on 10-year US debt rises sharply 3.94%. Bitcoin is down to USD 24100. +  +In corporate news: +* Tesla has begun assembling battery systems at its German plant, but most of the production will be concentrated at U.S. sites where the automaker receives subsidies under the U.S. Inflation Reduction Act (IRA), a group spokesman said Wednesday. +* KKR has extended its non-binding offer for Telecom Italia's (TIM) fixed-line network by four weeks to March 24, TIM said late Tuesday. +* Baidu jumped 7.8% in pre-market trading on Wall Street after the Chinese internet search engine reported better-than-expected fourth-quarter revenue and announced a share buyback plan of up to $5 billion. +* Coinbase Global falls 1% in pre-market trading as the cryptocurrency exchange platform reported a fourth-quarter net loss of $557 million on Tuesday, compared with a profit of $840 million a year earlier. +* Palo Alto climbs 9% in pre-market trading after the telecommunications equipment specialist raised its full-year profit forecast as demand for cybersecurity products remains strong. +* Chesapeake Energy sold assets in South Texas for $1.4 billion to chemical company Ineos, which will enter the oil and gas business for the first time in the U.S. +* AMC Entertainment Holdings - Shareholders of the movie chain filed a lawsuit in Delaware in connection with an allegedly unsolicited issuance of new shares. +* Nvidia and eBay are scheduled to report quarterly results after the close on Wall Street. +  +Analyst recommendations: +Autonation: Guggenheim Securities raised the target to $181 from $169. Maintains buy rating. +Comcast: KGI Securities downgrades to neutral from outperform. PT up 8.4% to $41. +Dillard's: J.P. Morgan downgrades to underweight from neutral. PT down 20% to $286. +Home Depot: D.A. Davidson & Co cut the target to $306 from $334. Maintains neutral rating. +InterContinental Hotels: Deutsche Bank downgrades to hold from buy and increases the price target to 58.50 pounds sterling from 57.30 pounds. +Manhattan Associates: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $145. +Martin Marietta: On Field Investment Research upgrades to neutral from underperform. PT up 21% to $436. +Nordson: KeyBanc Capital Markets upgrades to overweight from sector weight. PT up 20% to $255. +Vulcan Materials: On Field Investment Research upgrades to neutral from underperform. PT up 33% to $241. diff --git a/news/CMCSA/2023.02.24/Nokia's 5G Core selected to support Comcast's mobile connectivity efforts MWC23.txt b/news/CMCSA/2023.02.24/Nokia's 5G Core selected to support Comcast's mobile connectivity efforts MWC23.txt new file mode 100644 index 0000000000000000000000000000000000000000..b9f3c4a0555cf5fc59b3c057102188a8c4cf727f --- /dev/null +++ b/news/CMCSA/2023.02.24/Nokia's 5G Core selected to support Comcast's mobile connectivity efforts MWC23.txt @@ -0,0 +1 @@ +Finland - Nokia and Comcast today announced plans to use Nokia's 5G software and support services to provide Comcast with the capabilities to deliver new, seamless connectivity experiences to Xfinity Mobile and Comcast Business Mobile customers in its service areas across the United States.Nokia will supply Comcast with its 5G Stand Alone Core networking software, including Packet Core, delivering near zero touch automation and ultra low latency capabilities, as well as operations software and consulting services. These offerings will support Comcast's efforts to deliver enhanced 5G access to consumer and business customers in the U.S. using Citizens Broadband Radio Service (CBRS) and 600 MHz spectrum.By combining Nokia's software with Comcast's targeted, capital-light network design, Comcast can cost-effectively deliver enhanced 5G and WiFi mobile connectivity to its more than five million Xfinity Mobile and Comcast Business Mobile customers. Comcast and Nokia are currently conducting field trials, which includes Comcast employee testing.As the demand for reliable Internet access inside and outside of the home and office rapidly increases, Comcast's mid-band (CBRS) and low-band (600MHz) spectrum enable the company to supplement its existing Xfinity WiFi network and cellular network partnership with additional targeted 5G coverage in certain high-traffic areas within its service territory.Xfinity Mobile and Comcast Business Mobile services are built for the way people use mobile today, with the Internet at the core of the experience. Calls and texts are free, and customers can experience the freedom of paying by the gig or unlimited, and switch between payment options at any time for any line on their account.Nokia is leading the 5G Standalone Core market, with over 80 communication service provider (CSP) customers around the world. In addition, 25 of the top 40 CSPs by revenue rely on Nokia Core network products.Tom Nagel, SVP, Wireless Strategy at Comcast, said: 'We are pleased to be working with Nokia to enable Comcast's advanced 5G mobile products and services for our customers. Combining Nokia's industry-leading solutions with Comcast's targeted network design and new dual SIM technology allows us to create exciting next-generation wireless offerings.'Fran Heeran, SVP & General Manager of Core Networks, Cloud and Network Services, at Nokia, said: 'We are delighted to partner with Comcast and provide Nokia's advanced 5G Core portfolio to deliver innovative 5G customer offerings securely, at scale, and with advanced operational efficiencies.'About NokiaAt Nokia, we create technology that helps the world act together.As a trusted partner for critical networks, we are committed to innovation and technology leadership across mobile, fixed and cloud networks. We create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.Adhering to high standards of integrity and security, we help build the capabilities needed for a more productive, sustainable and inclusive world.About Comcast CorporationComcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United Statesand Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports and provide memorable experiences at Universal Parks and Resorts in the United States and Asia.Contact:Email: press.services@nokia.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CMCSA/2023.02.27/Comcast Business Recognized by Frost & Sullivan as a Leader in 2022 North American Mana...txt b/news/CMCSA/2023.02.27/Comcast Business Recognized by Frost & Sullivan as a Leader in 2022 North American Mana...txt new file mode 100644 index 0000000000000000000000000000000000000000..564fc601cb2e4f14bf9fc775938fe527dcdaac32 --- /dev/null +++ b/news/CMCSA/2023.02.27/Comcast Business Recognized by Frost & Sullivan as a Leader in 2022 North American Mana...txt @@ -0,0 +1,21 @@ + +Comcast Business today announced that it has been recognized as a Leader by research and consulting firm Frost & Sullivan in its 2022 Frost Radar™: Managed SD-WAN Services in North America report. The Frost Radar™ summarizes key trends in a specific technology market and serves as a buyer’s guide to inform decision makers on key players and their position in the market. The full report is available for download here. + +“Comcast Business continues to establish itself as a leader in managed SD-WAN and, with its white glove service and customer focus, is translating well in the larger enterprise market,” said Stephen Thomas, Sr. Industry Director, Network Services, Frost & Sullivan. “Its acquisition and integration of Masergy has also proven helpful overall given Masergy’s solid reputation, industry leading SLAs and leadership in customer self-portal technologies.” + +The Frost Radar™ recognizes Comcast Business as a Leader among the top twelve North American Managed SD-WAN providers. The report highlights several key differentiators for Comcast Business including its position as the second-largest provider of SD-WAN connections in North America, its reputation for success among enterprise customers with 250 or more sites, as well as its strategic acquisition of global SD-WAN leader, Masergy and the resultant portfolio enhancements and expanded partner ecosystem for SD-WAN and Cloud solutions it has enabled. + +“We’re proud that Frost & Sullivan recognizes our commitment to and growth in the Managed SD-WAN solutions market. This further validates our position as a leader in global secure network solutions,” said Bob Victor, Senior Vice President, Customer Solutions, Comcast Business. “Comcast Business is the fastest growing managed SD-WAN provider in the US, offering a fresh alternative to legacy telco solutions. The Frost Radar™ further supports this position and validates why enterprises can confidently partner with Comcast Business for managed secure SD-WAN services.” + +Comcast Business can design, build, implement, and manage custom solutions tailored to an enterprise’s unique needs. Through simplified management and next-gen offerings, Comcast Business helps drive key business initiatives from digital transformation and customer experience to cloud and security. To learn more about Comcast Business Managed Services, please visit: https://business.comcast.com/enterprise/products-services/managed-services + +About Comcast Business + +Comcast Business offers a suite of Connectivity, Communications, Networking, Cybersecurity, Wireless, and Managed Solutions to help organizations of different sizes prepare for what’s next. Powered by the nation’s largest Gig-speed broadband network, and backed by 24/7 customer support, Comcast Business is the nation’s largest cable provider to small and mid-size businesses and one of the leading service providers to the Enterprise market. Comcast Business has been consistently recognized by industry analysts and associations as a leader and innovator, and one of the fastest growing providers of Ethernet services. + +For more information, call 866-429-3085. Follow on Twitter @ComcastBusiness and on other social media networks at http://business.comcast.com/social. + +About Comcast Corporation + +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230227005145/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.02.27/Comcast Partners With The Hidden Genius Project to Help Black Male Youth Acquire Digita...txt b/news/CMCSA/2023.02.27/Comcast Partners With The Hidden Genius Project to Help Black Male Youth Acquire Digita...txt new file mode 100644 index 0000000000000000000000000000000000000000..ff455ad0428c82b4720b5aba3249a2dcfecb06be --- /dev/null +++ b/news/CMCSA/2023.02.27/Comcast Partners With The Hidden Genius Project to Help Black Male Youth Acquire Digita...txt @@ -0,0 +1,19 @@ + +Comcast NBCUniversal today announced a new $2 million grant to The Hidden Genius Project, furthering the company’s longstanding efforts to advance economic mobility through critical digital skills building. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230224005303/en/Comcast Partners With The Hidden Genius Project to Help Black Male Youth Acquire Digital Skills and Enter the Tech Sector (Photo: Business Wire) +A globally recognized nonprofit, The Hidden Genius Project trains and mentors Black male youth in technology creation, entrepreneurship, and leadership skills to transform their lives and communities. Comcast’s funding, which will be distributed over two years, will support The Hidden Genius Project’s expansion to new markets in Atlanta and Chicago this year. + +Representation within the tech sector continues to be starkly inequitable. Black Americans occupy just 7% of tech jobs, although they account for 14% of the national population. Founded in 2012, The Hidden Genius Project has provided mentorship, career planning and tech skills training to hundreds of Black male high school youth in Oakland, Richmond and Los Angeles, CA, and Detroit, MI through their Intensive Immersion Program. Program participants have a 98% high school graduation rate with 95% entering post-secondary education and over 40% of alumni studying computer science or related fields. Building on this track record, Comcast’s funding will help even more former program participants gain post-secondary education and support the development of Genius Lab, an innovative new curriculum for young people of color to gain computer science, software development and entrepreneurship skills. + +“Our continued partnership with Comcast NBCUniversal will equip us to engage even more Black youth with the skills, experiences, and networks to find their way into family-sustaining career pathways, including the tech sector,” said Brandon Nicholson, Ph.D., Chief Executive Officer of The Hidden Genius Project. “With ample access, our young people regularly realize their potential to pursue meaningful and exciting pathways, and subsequently create future opportunities not only for themselves, but also their entire community.” + +“As the lack of digital skills continue to be a determinant of future economic opportunity, we must ensure that young Black men have access to the resources and programming that will put them on a path to success in our digital economy,” said Dalila Wilson-Scott, EVP and Chief Diversity Officer of Comcast Corporation and President of the Comcast NBCUniversal Foundation. “For years, The Hidden Genius Project has proven to be a key partner in helping young people acquire the knowledge and resources needed to ensure long-term upward mobility and create generational change. Comcast is proud to deepen our commitment to help empower these Geniuses and future leaders pave the way to even greater innovation and equity within the tech sector and beyond.” + +This grant announcement marks the continuation of Comcast’s seven-year partnership with The Hidden Genius Project, which has enabled programmatic, volunteer and outreach collaboration in local communities across the country. The announcement is also a part of Project UP, Comcast’s $1 billion commitment to reach tens of millions of people in order to advance digital equity and help create a future of unlimited possibilities. + +About Comcast Corporation +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. + +About The Hidden Genius Project +The Hidden Genius Project trains and mentors Black male youth in technology creation, entrepreneurship, and leadership skills to transform their lives and communities. Headquartered in Oakland, California, the organization was founded in 2012 by a group of Black male tech entrepreneurs seeking to connect Black male youth with the skills, mentors, and experiences to leverage technology to thrive as individuals and improve their communities. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230224005303/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.02.27/Comcast and CommScope Hit Major 10G Milestone.txt b/news/CMCSA/2023.02.27/Comcast and CommScope Hit Major 10G Milestone.txt new file mode 100644 index 0000000000000000000000000000000000000000..d3cfac0a8a8f059a027005855be80617486f85e0 --- /dev/null +++ b/news/CMCSA/2023.02.27/Comcast and CommScope Hit Major 10G Milestone.txt @@ -0,0 +1,21 @@ + +Comcast today announced that partner CommScope has delivered the first prototype Full Duplex DOCSIS (FDX) amplifiers to its advanced technology labs for system testing. Comcast first tested FDX amplifiers in September 2022, demonstrating the ability to deliver symmetrical speeds across a complete network-to-home 10G loop, reflective of architecture that is inclusive of the vast majority of the Comcast network. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230227005102/en/Comcast and CommScope Hit Major 10G Milestone with Delivery of FDX Amplifier Prototype. (Photo: Business Wire) +“In 2022, we demonstrated that our Xfinity 10G Network is here for our customers—a brilliant network that delivers the next generation of connectivity to power the next generation of innovation,” said Elad Nafshi, EVP & Chief Network Officer at Comcast Cable. “CommScope has been a key partner in our work and deploying their FDX amplifiers across our network is a critical next step. We’re excited to harden this technology and begin rolling them out across our network, so that we can continue to deliver the best connectivity experience to our customers.” + +The prototype amplifiers will be used to understand and implement improvements ahead of the full deployment across Comcast’s network, which is expected to begin later in 2023. The amplifiers are based on the widely deployed CommScope STARLINE® MiniBridger™ platform which Comcast currently uses as a part of its network architecture. + +“The CommScope engineering team has been relentlessly working on this program and is making great strides,” said Guy Sucharczuk, SVP & President of Access Network Solutions (ANS), CommScope. “RF Amplifiers are one of the key growth products within our ANS portfolio, as evidenced by our recent one million units shipped announcement. These million amplifiers shipped, in addition to the prior existing millions of CommScope amplifiers in the market, become candidates for upgrade to DOCSIS 4.0. We are excited to partner with Comcast to engineer this next generation of smart amplifiers.” + +Over the past 24 months, Comcast has been a leader in developing and implementing 10G technology, including several world firsts. Recently, the company marked a major milestone in the nation’s largest and fastest multi-gig deployment, announcing that its latest Xfinity 10G Network upgrade will be launched to 10 million homes and businesses by the end of February. These locations now will have the foundational network enhancements in place to begin deploying DOCSIS 4.0, setting the stage for the introduction of new multi-gigabit symmetrical Internet options before the end of 2023 that will be delivered across Comcast’s existing networks with less cost. The full deployment of these technical capabilities will reach more than 50 million homes and businesses by 2025. In addition to fast speeds, DOCSIS 4.0 technologies will deliver even greater reliability and capacity to power multiple data-intensive applications. + +More information about the Xfinity 10G Network can be found here. Visit Xfinity to learn more and sign up for these exciting new products. + +About Comcast Corporation + +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. + +About CommScope + +CommScope (NASDAQ: COMM) is pushing the boundaries of technology to create the world’s most advanced wired and wireless networks. Our global team of employees, innovators and technologists empower customers to anticipate what’s next and invent what’s possible. Discover more at www.commscope.com. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230227005102/en/ \ No newline at end of file diff --git a/news/CMCSA/2023.03.01/Ten Startups Join the 2023 Class of the Comcast NBCUniversal SportsTech Accelerator for...txt b/news/CMCSA/2023.03.01/Ten Startups Join the 2023 Class of the Comcast NBCUniversal SportsTech Accelerator for...txt new file mode 100644 index 0000000000000000000000000000000000000000..7de674a5ec82b5d2a909f37fc9ab332e99c4a470 --- /dev/null +++ b/news/CMCSA/2023.03.01/Ten Startups Join the 2023 Class of the Comcast NBCUniversal SportsTech Accelerator for...txt @@ -0,0 +1,73 @@ + +Today, 10 startups kicked off the third class of the Comcast NBCUniversal SportsTech Accelerator, powered by Boomtown. + +This year’s companies, selected from over 920 applicants across 40 countries, will collaborate with experts from Comcast, NBCUniversal, Sky, and Boomtown, along with SportsTech’s advisors, to improve their products and services and prepare for accelerated commercial success with program partners and the broader sports industry. + +One of the hallmarks of Comcast NBCUniversal SportsTech is the access to leaders and decision makers from across the partner consortium, which includes four Comcast NBCUniversal sports brands: NBC Sports, Sky Sports, Comcast Spectacor, and Golf – alongside NASCAR, WWE, and PGA TOUR, and three US Olympic sports organizations: U.S. Ski & Snowboard, USA Swimming, and USA Cycling. + +Since the first class in 2021, SportsTech startup alumni have participated in 90 pilots, partnerships, and commercial deals with consortium partners. This year, founders will be able to explore more long-term opportunities with partners as the accelerator expands from a 12-week format to a 6-month program, allowing for increased time for robust, meaningful collaborations. + +"Our alumni from the first two classes of the Comcast NBCUniversal SportsTech accelerator continue to display a prowess for delivering impactful technology while unlocking new revenue opportunities, and I look forward to seeing what powerful innovations and unique partnerships emerge from this year’s program,” said Jenna Kurath, Vice President, Startup Partnerships and Head of Comcast NBCUniversal SportsTech. "As we evaluated how to bring even more value to our startups and SportsTech partners, a clear need emerged - more time collaborating to tackle complex business challenges. The new six-month format creates additional space for focused testing and experimentation with a curriculum designed for business refinement while allowing the enterprise-ready startups we've selected to continue serving their existing customers.” + +Entrepreneurs will work one-on-one with SportsTech advisors and participate in a custom curriculum focused on refining their product and improving their go-to-market strategies, fundraising, sales, marketing and branding, product design, personal growth, company culture, and tactics for working at an enterprise scale. This year’s class will also benefit from a series of unique excursions and working retreats structured around SportsTech partner events that will embed founders behind-the-scenes so they can gain a better understanding of how to deliver innovations that service these organizations’ operational needs. + +The 2023 program kicks off this week in Florida with a roadshow of partner events, and immersion activations for founders designed to deepen customer discovery and identify how to align technology solutions to the business and operational needs of partners. With meetings at the offices of NBC Sports’ GOLF division, behind-the-scenes tech experiences at Universal Studios Florida and the WWE Athlete Performance Center, opportunities to observe how PGA TOUR and NBC Sports’ GOLF produce professional sporting events at venues like the Arnold Palmer Invitational, followed by focused sessions at PGA TOUR’s headquarters and NASCAR at Daytona International Speedway, the introductory week is designed to impart startups with critical insights and understandings. + +Accelerator mentors will include industry leaders from Comcast NBCUniversal as well as strategic advisors from the Boomtown network and the partner consortium, including: Will McIntosh, President of NBC Sports NEXT and Fandango; Lora Dennis, Executive Vice President, NBCUniversal Local; James Clement, Director of Operations, Sky Sports; Craig Neeb, Chief Development Officer of NASCAR; Rina Thakker, Senior Vice President, Digital Products for WWE; and Lance Stover, Senior Vice President, New Ventures for PGA TOUR. + +For those interested in applying to join the next Comcast NBCUniversal SportsTech accelerator and to learn more about the program’s eight focus areas: media and entertainment, fan/player engagement, athlete/player performance, team and coach success, venue and event innovation, fantasy sports and betting, esports, and the business of sports, visit www.comcastsportstech.com. + +The 2023 class of the Comcast NBCUniversal SportsTech Accelerator program includes: + +Aircast – Melbourne, Australia + +Aircast provides sports fans direct access to near zero-latency multi-view video, audio, and data, making them the director of their own experience. + +EINBLIQ.IO – Munich, Germany + +EINBLIQ.IO is an insights and automation platform that enables media companies to operate sophisticated, excellent, energy-efficient, and economic streaming services. + +FanFest – New York, New York + +FanFest is the easiest way for the biggest names in entertainment to empower superfans to grow their audience with interactive shows gated by digital memberships and tokens hosted live on their digital channels. + +FanSaves – Ottawa, Canada + +FanSaves is a digital couponing platform that gives fans discounts and deals from sponsors of their favorite teams, increasing fan engagement and activation while tracking important customer analytics for teams and their partners. + +GeoSnapShot – Sydney, Australia & Denver, Colorado + +GeoSnapShot is a Powerful AI media distribution platform that allows users to instantly share photos from an event and organize them so they can be found quickly and easily. + +Quicc – Wichita, Kansas + +Quicc is a powerful video content management system that automates video transcription, captioning, searching, and clipping workflows. + +Recut – New York, New York + +Recut helps users create unlimited personalized video content at scale for fans and audiences. + +Rivalry Tech – Houston, Texas + +Rivalry Tech is a food, beverage, and merchandise mobile ordering platform for high-volume settings, including stadiums, resorts, hospitals, and entertainment venues. + +RIZZARR – Detroit, Michigan + +RIZZARR is a content marketplace that connects brands seeking purpose-driven digital media with vetted, talented creators worldwide. + +Tickets for Good – Sheffield, United Kingdom + +Tickets for Good helps event partners fill venues and increase revenues by giving free and discounted tickets to targeted & validated consumer groups that support the local community. + +About Comcast Corporation + +Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. + +About Comcast NBCUniversal SportsTech + +Comcast NBCUniversal invests in the best sports tech startups in the world. We back this investment by providing our startups with a rigorous, custom curriculum, and we surround our entrepreneurs with a dream team of sports industry advisors and experts who are passionately dedicated to helping them succeed. Comcast SportsTech features a partnership of four of Comcast NBCUniversal’s sports brands - NBC Sports, Sky Sports, Comcast Spectacor and Golf – alongside NASCAR, WWE, and PGA TOUR, and three US Olympic sports organizations: U.S. Ski & Snowboard, USA Swimming, and USA Cycling. This network of partnerships brings an early lens into innovation solutions, exclusive access to research and business insights, and differentiated value to Comcast’s media rights relationships. The program brings creative solutions to the partner consortium and to market through the lens of eight core investment categories: Media & Entertainment; Fan/Player Engagement; Athlete/Player Performance; Team & Coach Success; Venue & Event Innovation; Fantasy Sports & Betting; esports; and the Business of Sports. Visit www.comcastsportstech.com to learn more. + +About Boomtown + +Boomtown designs and operates exclusive, custom, and turnkey innovation platforms that unlock the power of open innovation for major corporations and organizations. Unlike traditional accelerators that mainly benefit investors, Boomtown Innovation Platforms are custom-tailored for corporate development, leveraging outside innovation to generate business growth and solve vexing corporate challenges, creating a long term competitive advantage. Since 2014, Boomtown has successfully executed more than 20 innovation programs and invested in nearly 250 startups, achieving a portfolio value of more than $1.5 billion. For more information visit https://boomtownaccelerators.com/ +View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005201/en/ \ No newline at end of file diff --git a/news/COST/2023.01.06/Costco, WWE rise; Greenbrier, Baxter International fall.txt b/news/COST/2023.01.06/Costco, WWE rise; Greenbrier, Baxter International fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..6dd0c1596b2a8fa7c0a95f03194fda8cac840c65 --- /dev/null +++ b/news/COST/2023.01.06/Costco, WWE rise; Greenbrier, Baxter International fall.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Friday:Costco Wholesale Corp., up $32.68 to $482.87.The warehouse club operator gave investors an encouraging sales update.World Wrestling Entertainment Inc., up $12.23 to $84.27.Vince McMahon is returning to the producer of professional wrestling events as executive chairman of the board.R1 RCM Inc., up $1.15 to $12.43.The medical billing company announced leadership changes and gave investors an encouraging financial update.Duck Creek Technologies Inc., up $1.71 to $12.99.The insurance industry technology supplier beat analysts' fiscal first-quarter earnings forecasts.Fate Therapeutics Inc., down $6.76 to $4.24.The biotechnology company ended a collaboration with Johnson & Johnson's Janssen unit.Greenbrier Companies Inc., down $6.25 to $28.66.The maker of railroad freight cars reported weak fiscal first-quarter earnings.Baxter International Inc., down $4.12 to $48.45.The drug and medical device maker is spinning off its kidney care unit.Hess Corp., up $2.92 to $143.70.Energy stocks gained ground with U.S. crude oil prices mostly rising throughout the day.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/COST/2023.01.06/Stocks rally as jobs report calms rate hike worries.txt b/news/COST/2023.01.06/Stocks rally as jobs report calms rate hike worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..f94619f7bb484159fa1b2690c696241bb2c6559a --- /dev/null +++ b/news/COST/2023.01.06/Stocks rally as jobs report calms rate hike worries.txt @@ -0,0 +1 @@ +The Dow rose more than 2%, the S&P 500 gained more than two and a quarter, while the Nasdaq jumped more than two and a half percent. The U.S. Labor Department's non-farm payrolls report showed 223,000 jobs were added last month, but lower-than-expected wage gains were welcomed by those seeking signs of slowing inflation. Geetu Sharma, founder and investment manager at AlphasFuture, said it was the best sign yet that the Fed's plan to tame inflation without triggering a recession might work."We definitely had a good jobs report. We not only have a strong labor market, wage growth is less than expected, although I think it's still kind of high, so it's not that we are seeing much decline in inflation concerns but, on a relative basis, wage growth has come in lower than expected and that is raising the odds of a soft landing, if there are any." As for individual stocks, Costco jumped more than 7% after the membership-only retailer reported strong December sales growth.Shares of Pfizer rose 2.5% after reports of talks with China to secure a license that will allow domestic drugmakers to manufacture and distribute a generic version of its COVID-19 antiviral drug Paxlovid in China. Megacap tech stocks, including Apple and Amazon, posted big gains on Friday after a rocky week. But shares of Bed Bath & Beyond continued their downward slide, falling 22.5% to close at just $1.31 a share, after Reuters reported that the home goods retailer was preparing to seek bankruptcy protection in the coming weeks. \ No newline at end of file diff --git a/news/COST/2023.01.06/Wall St jumps as jobs, services data calm rate hike worries.txt b/news/COST/2023.01.06/Wall St jumps as jobs, services data calm rate hike worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..cb70712aac31f7bbcd0e39a95682e5aeb113eaff --- /dev/null +++ b/news/COST/2023.01.06/Wall St jumps as jobs, services data calm rate hike worries.txt @@ -0,0 +1,50 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*U.S. December payrolls up 223,000 vs est 200,000*Dec. non-manufacturing PMI 49.6 vs November's 56.5 read*Pfizer up on report of talks with China for generic COVID +drug*Indexes up: Dow 2.06%, S&P 2.27%, Nasdaq 2.54%Jan 6 (Reuters) - Wall Street's main indexes rallied on +Friday on news that while U.S. payrolls expanded more than +expected, wage increases slowed and services activity +contracted, easing worries about the Federal Reserve's interest +rate hiking path.U.S. nonfarm payrolls rose by 223,000 jobs in December, +Labor Department data showed, while a 0.3% rise in average +earnings was smaller than expected and less than the previous +month's 0.4%.In another set of data, U.S. services activity contracted +for the first time in more than 2-1/2 years in December as +demand weakened, with more signs of inflation easing."The stock market's wondering today did Goldilocks just +enter the room? Did the Fed pull it off? Did they slow the +economy and not employment?" said John Augustine, chief +investment officer at Huntington National Bank in Columbus, +Ohio, who saw the services and jobs reports as investors' cue to +resume buying."The worry this year was that the Fed was going to force +a recession. Today's reports may alleviate that pressure to +force a recession. They may already have slowed down the economy +enough. They just need validation from inflation reports."By 2:22 p.m. ET, the Dow Jones Industrial Average +rose 676.75 points, or 2.06%, to 33,606.83; the S&P 500 +gained 86.36 points, or 2.27%, at 3,894.46; and the Nasdaq +Composite added 262.26 points, or 2.54%, at 10,567.50.A resilient labor market has powered the economy through +consumer spending, but could still prompt the Fed to lift its +target interest rate above the 5.1% peak it had projected last +month and keep it there for a while.Money market participants now see a 75% chance that the U.S. +central bank will raise the benchmark rate by 25 basis points in +February and keep the terminal rate just below 5% by June.But Huntington's Augustine said the Fed likely needs to see +further signs of slower price increases in the December +inflation report, due out on Thursday, before deciding whether +to slow its next rate hike to 25 basis points at its February +meeting. It raised rates 50 basis points in December.Also aiding sentiment were Fed officials acknowledging +cooling wage growth and other signs of the economy gradually +slowing, with Atlanta President Raphael Bostic hinting at the +chances of a quarter percentage point hike at the next policy +meeting.All the major S&P 500 indexes gained with materials +in the lead with a 3.4% gain. The weakest sector was +healthcare, up 1%.Consumer staples, which rose 2.8%, was boosted +by Costco Wholesale Corp, which jumped 7% after the +membership-only retailer reported strong December sales growth.Pfizer Inc advanced 2.4% afterreportsof talks with China to secure a license that will allow +domestic drugmakers to manufacture and distribute a generic +version of the U.S. company's COVID-19 antiviral drug Paxlovid +in China.Bed Bath & Beyond Inc slid 21% to $1.33 after +Reuters reported that the home goods retailer was preparing toseek bankruptcy protectionin coming weeks.Advancing issues outnumbered decliners on the NYSE by a +6.98-to-1 ratio; on Nasdaq, a 2.70-to-1 ratio favored advancers.The S&P 500 posted 17 new 52-week highs and five new +lows; the Nasdaq Composite recorded 87 new highs and 61 new +lows. +(Reporting by Shubham Batra, Ankika Biswas and Shashwat Chauhan +in Bengaluru; Editing by Shounak Dasgupta, Arun Koyyur and +Richard Chang) \ No newline at end of file diff --git a/news/COST/2023.01.06/Wall St rallies as jobs, services data calm rate hike worries.txt b/news/COST/2023.01.06/Wall St rallies as jobs, services data calm rate hike worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..8fc508538eb00970f764f008b9170223875dcff3 --- /dev/null +++ b/news/COST/2023.01.06/Wall St rallies as jobs, services data calm rate hike worries.txt @@ -0,0 +1,65 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*U.S. December payrolls up 223,000 vs est 200,000*Dec. non-manufacturing PMI 49.6 vs November's 56.5 read*Biogen closes higher as FDA approves Alzheimer's drug*Indexes up: Dow 2.13%, S&P 2.28%, Nasdaq 2.56%Jan 6 (Reuters) - Wall Street's main indexes all gained +more than 2% on Friday after December payrolls expanded more +than expected even as wage increases slowed and services +activity contracted, easing worries about the Federal Reserve's +interest rate hiking path.U.S. nonfarm payrolls rose by 223,000 jobs in December, +Labor Department data showed, while a 0.3% rise in average +earnings was smaller than expected and less than the previous +month's 0.4%.In another set of data, U.S. services activity declined for +the first time in more than 2-1/2 years in December as demand +weakened, with more signs of inflation easing."We got good news on the inflation front with wage gains +that are slowing. We got participation rates pick up again and +yet we're still creating jobs. It's a kind of a win-win for the +economy. And on the other side the ISM services report was +really weak and broadly weak," said Megan Horneman, chief +investment officer at Verdence Capital Management in Hunt +Valley, Maryland."That's basically making people think the Fed is nearing the +end of what's been one of the most aggressive tightening cycles +we've seen in decades. That's why the markets are taking off."By 4:23 p.m. ET, the Dow Jones Industrial Average +rose 700.53 points, or 2.13%, to 33,630.61; the S&P 500 +gained 86.98 points, or 2.28%, at 3,895.08; and the Nasdaq +Composite added 264.05 points, or 2.56%, at 10,569.29.Friday's rally boosted the benchmark S&P and the Nasdaq +enough to snap four weeks of declines. For the holiday-shortened +week, the S&P rose 1.45% while the Nasdaq added 0.98% and the +Dow advanced by 1.46%.For the gains, John Augustine, chief investment officer +at Huntington National Bank in Columbus, Ohio, pointed to a +calming of anxiety that the Fed would raise rates so much that +it causes a recession."Today's reports may alleviate that pressure to force a +recession. They may already have slowed down the economy enough. +They just need validation from inflation reports."Still the Fed last month projected an a interest rate target +peak of around 5% and said it would keep rates high until +inflation is where it wants it to be.Fed officials on Friday acknowledged cooling wage growth and +other signs of a gradually slowing economy, with Atlanta +President Raphael Bostic hinting at the chance of a quarter +percentage point hike at the next policy meeting.But Huntington's Augustine said the central bank needs to +see further slowing of price increases in the December inflation +report, due out on Thursday, before deciding whether to slow its +next rate hike. It raised rates 50 basis points in December.Also next week several of the biggest U.S. banks +including JPMorgan and Bank of America will kick +off the fourth-quarter earnings season on Friday."That's the part of the puzzle people haven't been able to +figure out. How much should earnings estimates be cut for the +calendar year or have they been cut enough?" said Horneman at +Verdence.All the major S&P 500 indexes gained with materials' +3.44% increase leading the pack. Interest-rate +sensitive technology was next with a 2.99% gain.The weakest sector was healthcare, which rose +0.89% followed by energy's 1.68% increase.Consumer staples was boosted by Costco +Wholesale Corp, whose shares jumped 7% after the +membership-only retailer reported strong December sales growth.Shares in Biogen Inc closed up 2.8% after the U.S. +Food and Drug Administration on Friday approved the Alzheimer's +drug lecanemab developed by Eisai Co Ltd and Biogen for +patients in the earliest stages of the disease. Eisai's U.S. +shares closed up 4% at $64.20.Pfizer Inc shares advanced 2.5% after reports of +talks with China to secure a license that will allow domestic +drugmakers to manufacture and distribute a generic version of +the U.S. company's COVID-19 antiviral drug Paxlovid in China.Bed Bath & Beyond Inc tumbled 22% after Reuters +reported that the home goods retailer was preparing to seek +bankruptcy protection in coming weeks.Advancing issues outnumbered decliners on the NYSE by a +6.69-to-1 ratio; on Nasdaq, a 2.59-to-1 ratio favored advancers.The S&P 500 posted 18 new 52-week highs and five new +lows; the Nasdaq Composite recorded 97 new highs and 65 new +lows.On U.S. exchanges 11.15 billion shares changed hands +compared with the 10.84 billion average for the full session +over the last 20 trading days. +(Reporting by Shubham Batra, Ankika Biswas and Shashwat Chauhan +in Bengaluru; Editing by Shounak Dasgupta, Arun Koyyur and +Richard Chang) \ No newline at end of file diff --git a/news/COST/2023.01.10/Costco debuts Shutterfly offering.txt b/news/COST/2023.01.10/Costco debuts Shutterfly offering.txt new file mode 100644 index 0000000000000000000000000000000000000000..3077f14923e664d756e376719af506a7d1b735d8 --- /dev/null +++ b/news/COST/2023.01.10/Costco debuts Shutterfly offering.txt @@ -0,0 +1 @@ +Costco members can now use Shutterfly's photo services and will get a 51% discount off every Shutterfly order plus free shipping on orders totaling more than $49.The program launches Jan. 11. Costco members can click "photo" to opt-in and transfer Costco photo information and photos.As of Jan. 28, products and services now available from Costco's PhotoCenter.com, DVD.com and Business Printing site will no longer be available.Copyright © 2023 Networld Media. All rights reserved., source Industry News \ No newline at end of file diff --git a/news/COST/2023.01.11/Mark Cuban's pharmaceuticals startup ties up with RxPreferred.txt b/news/COST/2023.01.11/Mark Cuban's pharmaceuticals startup ties up with RxPreferred.txt new file mode 100644 index 0000000000000000000000000000000000000000..26028924e6f078017c3bee489246688da60bd36c --- /dev/null +++ b/news/COST/2023.01.11/Mark Cuban's pharmaceuticals startup ties up with RxPreferred.txt @@ -0,0 +1 @@ +Mark Cuban Cost Plus Drugs provides generic drugs through direct contracts with manufacturers and charges a standard markup on every drug it sells. Under the partnership, RxPreferred Benefits' customers will have the option to use Mark Cuban Cost Plus Drugs as part of their health insurance plans."Our partnership with RxPreferred is another step in the direction of bringing transparency to healthcare and lowering drug costs for individuals and families across the country" Cuban said in a statement.Mark Cuban Cost Plus Drugs in December partnered with EmsanaRx, a nonprofit coalition of nearly 40 companies including U.S. retailers Walmart and Costco, that operates a PBM service for employers. PBMs serve as intermediaries between drug manufacturers, health insurance plans and pharmacies to negotiate prescription drug prices. (Reporting by Khushi Mandowara in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/COST/2023.01.17/Costco must face lawsuit over 'dolphin safe' tuna claim.txt b/news/COST/2023.01.17/Costco must face lawsuit over 'dolphin safe' tuna claim.txt new file mode 100644 index 0000000000000000000000000000000000000000..673bc36063b3b3526328e0a7506c73eb6f827d4a --- /dev/null +++ b/news/COST/2023.01.17/Costco must face lawsuit over 'dolphin safe' tuna claim.txt @@ -0,0 +1 @@ +U.S. District Judge William Orrick in San Francisco said the plaintiff in the proposed nationwide class action plausibly alleged that Costco fraudulently pledged adherence to a higher dolphin-safe standard than federal law requires, and then broke its "heightened promise."The plaintiff Melinda Wright accused Costco of violating California consumer protection laws by claiming its tuna was caught with "100% Monofilament Leaders & Circle Hooks," a practice she said is not dolphin-safe, and was "100% Traceable from Sea to Shelf," which she said could not be verified.Costco had sought a dismissal. The Issaquah, Washington-based retailer said Wright only speculated about the risk to dolphins in tuna she bought, and that it made no promises about dolphin safety beyond using a "dolphin safe" logo on labels.But the judge said reasonable consumers would infer from Costco's logo and statements about seafood sourcing that its fishing practices promoted "protection of and respect for" marine life, with limited negative environmental effects.He said this was particularly important because consumers "overwhelmingly" prefer tuna labeled dolphin-safe when given a choice.Costco had no immediate comment. Lawyers for Wright did not immediately respond to requests for comment. Orrick did not rule on the case's merits.Wright said she paid $15 for eight cans of Kirkland Signature White Albacore Tuna in Water at a Costco in Ukiah, California in 2021, and would not have done so or would have paid less had she known Costco's claims were misleading.The case is Wright v Costco Wholesale Corp, U.S. District Court, Northern District of California, No. 22-04343. (Reporting by Jonathan Stempel in New York; Additional reporting by Mehr Bedi in Bengaluru; Editing by Rosalba O'Brien)By Jonathan Stempel \ No newline at end of file diff --git a/news/COST/2023.01.18/Job cuts at Microsoft, Bad Buzz for Tesla: MarketSc...txt b/news/COST/2023.01.18/Job cuts at Microsoft, Bad Buzz for Tesla: MarketSc...txt new file mode 100644 index 0000000000000000000000000000000000000000..a1ea0c6a6254b383b5a40b0050da5124b2c3a934 --- /dev/null +++ b/news/COST/2023.01.18/Job cuts at Microsoft, Bad Buzz for Tesla: MarketSc...txt @@ -0,0 +1,9 @@ + +Burberry, Pearson, Manchester United, Ryanair, Total, Blackstone, Deutsche bank, BASF & Eramet, Microsoft, United Airlines, Moderna, Pfizer & GSK, Whirlpool, Planet Labs, Ulta beauty, Peloton Interactive, Medtronic, Zoetis, Costco Wholesale, Kroger, Constellation Brands, The Home Depot, Tesla and Apple feature in this press review! + + + + +  + +  diff --git a/news/COST/2023.01.24/Walmart to raise minimum wage for U.S. hourly workers to $14.txt b/news/COST/2023.01.24/Walmart to raise minimum wage for U.S. hourly workers to $14.txt new file mode 100644 index 0000000000000000000000000000000000000000..39bdc1ac9f3601e8d49e00ed45f93d5ba747f9ac --- /dev/null +++ b/news/COST/2023.01.24/Walmart to raise minimum wage for U.S. hourly workers to $14.txt @@ -0,0 +1,29 @@ +Jan 24 (Reuters) - Walmart Inc on Tuesday said +it will raise average hourly wages for its U.S. store workers +starting next month, as it seeks to attract and retain employees +in a tight domestic labor market.Walmart's new wage hikes lift its average hourly wage +pay to $17.50 from the current $17 an hour and will reflect in +March 2 paychecks, the company said. The minimum wage will rise +by as much as $2 for staff at its U.S. stores to a range of +$14-$19 per hour, depending on location, a spokesperson said in +an email, adding that about 340,000 workers at about 3,000 +stores will be eligible.Walmart employs 1.6 million U.S. workers, a majority of whom +work in rural and semi-urban areas.The hikes, however, still lag rivals including Amazon +, Costco and Target, which have been +offering minimum pay of atleast $15 an hour since 2021.Walmart's move comes as U.S. wage growth moderates. Data +from earlier this month showed average hourly earnings growth +for U.S. workers slowed to 0.3% in December, compared with 0.4% +in the prior month.Still, the labor market is resilient with rate of +unemployment falling to a 5-decade low of 3.5% in December and +number of job openings far outpacing the number of unemployed.This has raised prospects that the U.S. Federal Reserve +could further raise interest rates, putting further strain on +minimum wage workers and household budgets.The wage increases are a combination of regular annual +increases and targeted investments in starting rates, the +company said in a statement on Tuesday.Walmart's new round of hikes come six months after it raised +the average pay for pharmacy workers to more than $20 per hour +and said it would offer more frequent and automatic pay raises +as part of a new "progressive wage model" to fight labor +shortages. It has previously also raised pay for truck drivers +and distribution center workers. +(Reporting by Siddharth Cavale in New York and Uday Sampath in +Bengaluru; Editing by Devika Syamnath and David Gregorio) \ No newline at end of file diff --git "a/news/COST/2023.01.31/Does \"Dolphin Safe\" Mean That No Dolphins Were Harmed?.txt" "b/news/COST/2023.01.31/Does \"Dolphin Safe\" Mean That No Dolphins Were Harmed?.txt" new file mode 100644 index 0000000000000000000000000000000000000000..39ced9f1f31c585a92d4e66c67b97e3eae0025a8 --- /dev/null +++ "b/news/COST/2023.01.31/Does \"Dolphin Safe\" Mean That No Dolphins Were Harmed?.txt" @@ -0,0 +1,10 @@ +The Dolphin Protection Consumer Information Act permits marketers of tuna to promote their products as "dolphin safe" if the tuna is harvested using methods that are not prohibited by the Act. For example, you can't claim that your tuna is "dolphin safe" if the tuna is caught through driftnet fishing.A consumer sued Costco, alleging that the company's claims that its canned tuna is "dolphin safe" are false and misleading on the grounds that the methods used to catch the tuna still do, in fact, harm or kill dolphins.Apparently in recognition of the fact that Costco's use of the "dolphin safe" logo complied with federal law, the plaintiff's claims -- under California law -- aren't based on the use of the logo itself. Instead, the plaintiff bases her claims on other statements made by Costco on its packaging and in its advertising that the plaintiff alleges also communicate that the tuna was caught in a manner that isn't harmful to dolphins.In addition to promoting the tuna as "dolphin safe" on its packaging, the plaintiff alleged, for example, that Costco advertised the tuna as "100% Traceable from Sea to Shelf" and that the tuna was caught using "100% Monofilament Leaders & Circle Hooks." The plaintiff also pointed to statements on Costco's website about its sustainable seafood sourcing efforts and about its participation in the International Seafood Sustainability Foundation.The court found that these statements were sufficient -- at least at the pleading stage -- to show that Costco has made its own heightened promise that the product is dolphin safe, which the court said would not be preempted by federal law. The court explained, "this case is not about whether Costco complied with DPCIA's labeling requirements. It is about Costco's own promise to consumers that the product was dolphin-safe, and whether that statement was false, deceptive, or misleading."This case is a great reminder that, even if you're making an advertising claim that is expressly permitted and regulated by federal law, it doesn't necessarily mean that other similar claims will be preempted.Wright v. Costco Wholesale Corporation, 2023 WL 210936 (N.D. Cal. 2023). www.fkks.comThis alert provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions. +Mr Jeffrey Greenbaum +Frankfurt Kurnit Klein & Selz +28 Liberty Street +New York +NY 10005 +UNITED STATES +E-mail: info@fkks.com +URL: www.fkks.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/COST/2023.02.01/Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap... .txt b/news/COST/2023.02.01/Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap... .txt new file mode 100644 index 0000000000000000000000000000000000000000..94c1062d217e3295cb76267f64d928b4fd2096a2 --- /dev/null +++ b/news/COST/2023.02.01/Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap... .txt @@ -0,0 +1,29 @@ + +  +  +Corporate news: + +Advanced Micro Devices: the stock gains 1.4% after better-than-expected Q4 results. +Amgen: Q4 results are quite good, but the stock is not moving much after the session. +Electronic Arts: the video game publisher misses the quarterly consensus, causing the stock to drop more than 10% in after-hours trading. +GSK: reports fourth-quarter profit and revenue above estimates. +Novartis: Full-year revenue below expectations but profitability beats consensus. +Novo Nordisk: expects sales growth between 13% and 19% in 2023. +PayPal to cut nearly 7% of its global workforce. +Snap: stock loses 15% in after-hours trading after announcing a net loss in the fourth quarter and pessimistic forecasts +Software AG: the group is targeting a lower than expected operating margin in 2023. +Vale: the Brazilian mining giant's Q4 production came in below expectations. +T-Mobile US and Meta Platforms are expected to release their quarterly results after the close. + +  +In other news: + +The rout of Adani Enterprises and its subsidiaries continues in Mumbai, after attacks by short seller Hindenburg. +Contemporary Amperex Technology may launch a secondary listing in Zurich. +Credit Suisse is considering transferring its private equity business to the First Boston spin-off. +BMW raises prices on some models in China due to rising costs. +After poor performance, Intel is cutting executive pay. +Tesla is reportedly looking to build an assembly plant near the new Mexico City airport. +Short seller Quintessential Capital Management pins Darktrace. + +Today's main earnings reports: Meta Platforms, Alibaba, Novo Nordisk, Costco Wholesale, Thermo Fisher, T-Mobile, Novartis, Keyence, Glencore, GSK, Vodafone, BBVA, Orsted... All the agenda is here. diff --git a/news/COST/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt b/news/COST/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt new file mode 100644 index 0000000000000000000000000000000000000000..469ef069fc5071e3016f1e870dad7db43b7f7e17 --- /dev/null +++ b/news/COST/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt @@ -0,0 +1,35 @@ + +  +  +Corporate results: + +ABB: Order intake declines in Q4. +Banco Santander: Q4 net profit rises to €2.3bn. +Deutsche Bank: Q4 net profit comes up a little short of expectations. Current year revenues expected to be between €28-29bn. +Infineon: Segment margin expected to come out in fiscal Q2 at around 25%, versus 23.5% initially projected. +ING Groep: Q4 net profit came in at €1.1bn, slightly above consensus. +Nordea: Q4 net profit reaches €1.64bn. +Roche Holding: 2023 growth expected to slow. +Shell: The oil major company posted a record annual profit of $40bn. +Siemens Healthineers: The group reports a 28% drop in Q4 operating profit due to lower Covid test sales and delays at a supplier to its Varian business. +Sony: Annual operating profit should be slightly higher than expected. +Meta Platforms jumped 19 percent in pre-market trading after announcing Wednesday night a $40 billion share buyback program, tighter cost controls this year and an upbeat forecast for its first-quarter revenue. Apple, Alphabet and Amazon, which will report results after the U.S. markets close, were up 1.1% to 4.3% in pre-market trading. +Eli Lilly on Thursday raised its full-year profit target, expecting higher demand for its new diabetes drug Mounjaro. +Estee Lauder raised its full-year sales forecast Thursday on solid demand for its products and an expected recovery in China, its largest market. +Honeywell reported a 28.6% drop in fourth-quarter profit, hampered by supply problems and labor shortages. +Merck reported a better-than-expected quarterly profit on strong Asian sales of its Covid-19 antiviral. The company's profit forecast for this year, however, came in below analysts' consensus, sending the stock down 1% in premarket trading. +Metlife reported a 33% drop in adjusted fourth-quarter profit on Wednesday. + +In other news: + +KKR has made a non-binding offer to acquire a majority stake in Telecom Italia's fixed-line telecommunications network. +Boeing won a $1.62 billion contract from the U.S. Air Force to supply guidance systems for the Minuteman III intercontinental ballistic missile. +Pinterest decided to lay off about 150 employees, less than 5 percent of its workforce, Bloomberg reported Wednesday. +Adani Enterprises cancels its capital increase. +FedEx will lay off more than 10% of its executives and directors. +Sony will promote CFO Hiroki Totoki to president and COO. +Trading in several Adani stocks suspended after their plunge. +Honda will begin production of a new hydrogen fuel cell system developed jointly with General Motors. +Swatch proposes a dividend of CHF 6 per share (CHF 1.20 per registered share). + +Today's main earnings reports: Apple, Alphabet, Amazon, Eli Lilly, Roche, Merck & Co, Costco, Shell, Sony, Qualcomm, Estée Lauder, ABB, Dassault Systèmes, ING Groep, Infineon, Nordea, Deutsche Bank... All the agenda is here. diff --git a/news/COST/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt b/news/COST/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt new file mode 100644 index 0000000000000000000000000000000000000000..4c48bc046be011ad62cdf6382ec7199211d9ef99 --- /dev/null +++ b/news/COST/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt @@ -0,0 +1,8 @@ + +Sanofi, CaixaBank, Publicis, Apple, Alphabet, Amazon, Broadcom, VMWare, 3M Co, Brookfield Asset Management, Credit Suisse, Nordstrom, Ford, Beyond Meat, Kroger, Walmart, Costco Wholesale,  Starbucks, Coinbase, General Electric, Siemens Gamesa, Baidu and Tesla feature in this press review! + + + + + +  diff --git a/news/COST/2023.02.10/Walmart pushes back as major product suppliers ask for higher prices.txt b/news/COST/2023.02.10/Walmart pushes back as major product suppliers ask for higher prices.txt new file mode 100644 index 0000000000000000000000000000000000000000..d1d332cc5f5f5b6b5b2aecb6eaf13fa2e3a26dc7 --- /dev/null +++ b/news/COST/2023.02.10/Walmart pushes back as major product suppliers ask for higher prices.txt @@ -0,0 +1,76 @@ +(Updates with Newell Brands Inc earnings; adds detail on 2018 +dispute between Walmart and Campbell Soup)NEW YORK, Feb 10 (Reuters) - Walmart Inc is +warning major packaged goods makers that it can no longer +stomach their price hikes, pitching its own private-label +products to shoppers as less-expensive alternatives to +suppliers' name-brand goods.For the world's biggest retailer, which reports earnings +Feb. 21, any increase in prices --- even by just a few cents -- +can have negative effects, prompting some shoppers to look for +bargains at dollar stores or warehouse chains such Costco +.Walmart, which touts its "Everyday Low Price" policy, +raised prices last year on milk, frozen meals and Tide +detergent, to name a few, as its suppliers battled soaring costs +of everything from chemicals to wheat and fuel.But now with the cost of cardboard cases declining by +40-50%, the cost of transportation falling by 25-30% and the +cost of raw materials declining significantly, "retailers like +Walmart will say 'hey you already had three rounds of price +hikes last year, why are you giving us another?'" said Burt +Flickinger, managing director at retail consulting firm +Strategic Resource Group.Rod Little, CEO of Schick razor maker Edgewell Personal Care +Co, told Reuters that it "will be very difficult" to +pass new price increases through to retailers going forward. +Walmart is Edgewell's biggest customer."(Walmart) said to us, 'From here, our consumer is +challenged, we're going to be looking out for consumers, so +you're going to have to have really good reasons if you're going +to price up from here," Little said in an interview."Because the consumer is now under more pressure, and +Walmart is under pressure, that sets up a dynamic where there's +probably not a lot of pricing going forward."Walmart did not respond to a request for comment.At Unilever, the purveyor of Dove soap, Knorr bullion +cubes and Hellmann's mayonnaise, finance chief Graeme Pitkethly +said Thursday that it was "not yet past peak pricing," even +after implementing a record 13.3% average price hike in the +fourth quarter of 2022. Unilever estimated net material +inflation of $1.5 billion euros ($1.6 billion) in the first half +of this year.Procter & Gamble, maker of Tide detergent and Pampers +diapers, said on January 19 it would continue to raise prices +despite seeing a drop in volumes. It sells more than $10 billion +worth of products through Walmart.Rubbermaid-maker Newell Brands said Friday that it would +increase some prices, though it expects commodity and +transportation costs to fall. Fifteen percent of Newell's sales +go to Walmart, according to its regulatory filings.To be sure, Walmart has the upper hand. Its own store +brands, Great Value and Equate, compete directly with Unilever's +and P&G's product lines in the United States. Forty-three +percent of all purchases of store brand packaged goods made +online in the U.S. were on Walmart.com, according to the +research firm Numerator, which measured transactions for the +last quarter of 2022.The clout Walmart holds over suppliers also means that +Walmart would likely get the lowest percentage of any price +hikes manufacturers implement, according to investors who track +the company. "Walmart is just a conduit (for P&G and Unilever) +that uses its enormous size to provide the best deals it can for +customers," said David Klink, senior equity analyst at +Huntington Private Bank."We would think Walmart might emerge with less of a +consumer goodwill hit than these other companies in a +rising-price environment," said Kilnk, whose firm holds more +than $45 million in Walmart shares.Walmart previously has stopped ordering products over +disputes on pricing.In 2018, Walmart pulled back on ordering Campbell Soup Co's +products during the key winter season over a dispute +over prices and shelf space promotion.Across the pond, tussles between Britain's largest +supermarket chain Tesco and Kraft Heinz led to +Heinz baked beans being removed from shelves. At the time, Tesco +labeled Heinz's price hikes as "unjustifiable."Huggies diaper maker Kimberly-Clark said it was +embedding additional pricing this year, while toothpaste maker +Colgate said it planned further price hikes in the first +half of 2023."We're trying to figure out with our (dry grocery and +consumables) suppliers, what could we do that's different that +would help mitigate some of those costs?" Walmart CEO Doug +McMillon said at an investor conference in December."Unfortunately, some of those suppliers are still +pointing us towards more inflation next year on top of the +mid-double digits this year. And we don't like that for any +reason," he said.Shoppers at chains such as Walmart and Kroger were +waiting longer to buy new products like bleach and kitty litter, +and in some cases trading down to buy smaller sizes, or larger +wholesale quantities because they want more value per unit, +Clorox's CFO Kevin Jacobsen said February 2.After raising prices four times in 2022, he said, Clorox +doesn't "have any additional plans" to hike prices this year. +(Reporting by Siddharth Cavale and Jessica DiNapoli in New +York; Editing by Chizu Nomiyama) \ No newline at end of file diff --git a/news/COST/2023.02.13/Outside Salesperson Exemption Does Not Apply To Workers Whose Employer Controls Their H...txt b/news/COST/2023.02.13/Outside Salesperson Exemption Does Not Apply To Workers Whose Employer Controls Their H...txt new file mode 100644 index 0000000000000000000000000000000000000000..b03d1013c977c4858495f67c4c6b7df85cddd269 --- /dev/null +++ b/news/COST/2023.02.13/Outside Salesperson Exemption Does Not Apply To Workers Whose Employer Controls Their H...txt @@ -0,0 +1,13 @@ +Espinoza v. Warehouse Demo Servs., Inc., 86 Cal. App. 5th 1184 (2022)Georgina Espinoza, an employee of Warehouse Demo Services ("Warehouse"), worked in a Costco and performed demonstrations of products. Warehouse did not lease the space, but instead collects floor space on behalf of the companies whose products are demonstrated and then remits payment on their behalf to Costco. Espinoza brought a class action complaint alleging numerous Labor Code violations. Warehouse, however, argued that Espinoza fell within the outside salesperson exemption, which exempts workers from statutory overtime, minimum wage, and meal and rest break requirements, because she was engaged in selling outside of Warehouse's place of business. The trial court held that the Espinoza was covered by the exemption because Warehouse did not own or lease the site at which Espinoza worked. However, the Court of Appeal reversed, holding that the correct inquiry is the extent to which the employer maintains control or supervision of the employee's hours and working conditions. The Court of Appeal held that the exemption reflected the fact that such outside salespersons generally control their hours and are paid by commission. In "stark contrast," Espinoza was assigned to work in a small, designated area at a fixed site; she was required to clock in and out for each shift; and she could not leave the area during her shift unless another employee relieved her, which does not comport with the purpose of the exemption.Outside Salesperson Exemption Does Not Apply To Workers Whose Employer Controls Their Hours And Working ConditionsThe content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Anthony Oncidi +Proskauer Rose LLP +Eleven Times Square +(Eighth Avenue & 41st Street) +New York +10036-8299 +UNITED STATES +Tel: 2129693000 +Fax: 2129692900 +E-mail: gpolk@proskauer.com +URL: www.proskauer.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/COST/2023.02.16/Will Walmart open wallets? Prices in focus as retailer reports earnings.txt b/news/COST/2023.02.16/Will Walmart open wallets? Prices in focus as retailer reports earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..6105b04848ff1a7b53c54785ac106d4b79ce9636 --- /dev/null +++ b/news/COST/2023.02.16/Will Walmart open wallets? Prices in focus as retailer reports earnings.txt @@ -0,0 +1 @@ +The world's biggest retailer with more than 5,000 U.S. stores is expected to post a roughly $7 billion rise in sales for the fourth-quarter ended Jan. 31, up 4.5%. Higher-income shoppers in recent months have been drawn to its "Everyday Low Price" strategy. That's slightly less than the 5.5% expected fourth-quarter sales gain at supermarket chain Kroger Co. Target Corp's holiday-quarter sales, by contrast, are expected to fall nearly 1%, hurt by heavy discounts to clear inventory of discretionary items such as clothing, home furnishings and electronics. (INTERACTIVE GRAPHIC-Walmart's sales expected to outpace rivals in 2023 https://www.reuters.com/graphics/WALMART-RESULTS/byprlkgmdpe/index.html)Wall Street is now more focused on how Walmart, which operates more than 5,000 U.S. stores, plans to fight back against supplier price hikes to maintain its dominant position as America's largest grocery retailer. The chain accounted for 15.72% of all food and grocery spending in the United States in 2022, according to GlobalData. "The key will be anything the retailer says about price investments," UBS analysts wrote in a pre-earnings note. "There's a good chance that the company will say that it is bringing down some prices on general merchandise given the state of the consumer and the decline in certain costs like shipping."Aside from price-cuts and discounts, Walmart is also expected to use its private-label offerings to negotiate pricing with more expensive national brands. Grocery accounts for more than half of U.S. sales at Walmart as of 2021.In December, Walmart CEO Doug McMillon said "we do not like" that some suppliers were hinting at raising prices further in 2023. He warned that Walmart would allocate space to private and tertiary brands if prices got too high. Negotiations will likely be difficult as a number of Walmart's biggest suppliers, including Nestle, Coca-Cola Co, Procter & Gamble and Unilever, which disclosed in recent weeks that they plan to embed more price hikes this year. KitKat maker Nestle on Thursday said further price hikes were necessary to offset commodity costs. Kraft Heinz and PepsiCo, in contrast, plan to pause further price hikes to counteract declining volumes, but their prices are still substantially elevated compared to a year earlier.Still, Wall Street expects Walmart sales and revenue to rise in 2023 as its shipping and logistics costs moderate, even as labor expenses go up. (Reporting by Uday Sampath in Bengaluru and Siddharth Cavale in New York; Editing by Nick Zieminski)By Uday Sampath Kumar and Siddharth Cavale \ No newline at end of file diff --git a/news/COST/2023.02.21/Upper Midwest braces for blizzard, nearly 2 feet of snow.txt b/news/COST/2023.02.21/Upper Midwest braces for blizzard, nearly 2 feet of snow.txt new file mode 100644 index 0000000000000000000000000000000000000000..629aa377e2984541f51da42bac2cce1df51caeb5 --- /dev/null +++ b/news/COST/2023.02.21/Upper Midwest braces for blizzard, nearly 2 feet of snow.txt @@ -0,0 +1 @@ +MINNEAPOLIS (AP) — A monster winter storm took aim at the Upper Midwest on Tuesday, threatening to bring blizzard conditions, bitterly cold temperatures and 2 feet of snow in a three-day onslaught that could affect more than 40 million Americans.The storm began around midday and was to continue through Thursday morning in parts of the Dakotas, Nebraska, Minnesota, Iowa and Wisconsin, with winds gusting as high as 50 mph (80 kph) and wind chills tumbling as low as minus 50 degrees (minus 46 Celsius) in some places.The snowfall could be historic, even in a region accustomed to heavy snow. As much as 25 inches may pile up, with the heaviest amounts falling across east-central Minnesota and west-central Wisconsin, the National Weather Service said.The Minneapolis-St. Paul area could see 2 feet of snow or more for the first since in over 30 years.Some families scrambled to get shopping done before the weather closed in. At a Costco in the Minneapolis suburb of St. Louis Park, Molly Schirmer stocked up on heat-and-serve dinners and Mexican Coca-Colas, knowing that she and her two teenagers might get stuck at home.“The schools are already preparing to go online, so the kids will probably be home doing online school,” Schirmer said of her 13- and 15-year-olds.At another Costco in suburban Eagan, Larry and Sue Lick bought toilet paper, kitchen essentials and coffee ahead of the storm. They also rescheduled medical appointments and a family gathering, just to stay off the roads.“It’s not so much our driving, but you’ve got to worry about everybody else driving, with so many accidents caused by people that don’t know the winter driving,” Larry Lick said.The weather service said the blizzard will actually involve two rounds. For the Minneapolis-St. Paul area, the first blast arrives Wednesday afternoon with up to 7 inches of snow. Round 2 starting later Wednesday and extending into Thursday is the real whopper, “with an additional 10 to 20 inches expected.”Weather service meteorologist Frank Pereira said the system was expected to affect about 43 million Americans.Forecasters warned of life-threatening conditions.Temperatures could plunge to minus 15 to minus 20 degrees on Thursday (minus 26 to minus 29 Celsius) and minus 25 degrees (minus 32 Celsius) Friday in Grand Forks, North Dakota, meteorologist Nathan Rick said. Wind chills of 50 degrees below zero were possible.Wind gusts of 35 mph (56 kph) will be common in western and central Minnesota, with some blowing even stronger. That will result in “significant blowing and drifting snow with whiteout conditions in open areas,” the weather service said.According to the weather service, the biggest snow event on record in the Twin Cities was 28.4 inches from Oct. 31 through Nov. 3, 1991 — known as the Halloween Blizzard. The second-largest was 21.1 inches of snow from Nov. 29 through Dec. 1, 1985. The Twin Cities got 20 inches of snow on Jan. 22 and Jan. 23, 1982.Hours before the snow was to start, the storm was already having an impact. Minnesota state lawmakers canceled all committee hearings scheduled for Wednesday and Thursday as well as the Thursday floor sessions. Since they don’t normally meet on Friday, legislators won’t reconvene until Monday.Hardware store owners said customers were generally taking the forecast in stride.At C&S Supply, an employee-owned hardware store in Mankato, manager Corey Kapaun said demand was high for salt and grit, but not for shovels, snow blowers or other equipment. He attributed that to the fact that winter is two-thirds over.Kapaun said he’s sold 130 to 140 snow blowers and around 1,000 shovels this winter, when Mankato has seen more than 3 feet of snow.“I think people are either prepared or they’re not,” Kapaun said. “It’s usually the first snowfall of the year that gets a lot of attention. With a storm like this, I expected a little bit more, but we’ve already had a big year of snow already.”In Sioux Falls, Dallas VandenBos has owned Robson True Value hardware store for 48 years. His customers are used to the snow, but don’t necessarily trust the forecast.He recalled a storm in early January that was supposed to drop 3 or 4 inches of snow. The total was much higher — 18 inches.Sales of snow-related items haven’t really picked up, but VandenBos has a backlog of snow blowers to repair. Those bringing them in Tuesday were out of luck — they won't be ready for a week.“They’re not going to get them in time for this snow,” VandenBos said.Forecasters at AccuWeather said the same storm system could result in icing across a 1,300-mile (2,092 -kilometer) band from near Omaha, Nebraska, to New Hampshire on Wednesday and Thursday, creating potential travel hazards in or near cities such as Milwaukee, Detroit, Chicago and Boston.Portions of northern Illinois, southern Michigan and southern New York state could get up to half an inch of ice, which could topple power lines and cause outages, AccuWeather said.In California, significant snow was possible in the foothills and mountains near Los Angeles, with several inches predicted even for elevations as low as 1,000 feet, the weather service said.Nearly the state's entire population "will be able to see snow from some vantage point later this week if they look in the right direction,” UCLA climate scientist Daniel Swain wrote on Twitter.Potentially damaging 50 mph (80 kph) winds were predicted along the central coast, and gusts of 70 mph (113 kph) were possible in the mountains.As the northern U.S. deals with a winter blast, record warmth was expected later in the week in the mid-Atlantic and Southeast — 30 degrees to 40 degrees above normal in some places. Record highs were likely from Baltimore to New Orleans and in much of Florida, Pereira said.Washington, D.C., could hit 80 degrees on Thursday, which would top the record of 78 degrees set in 1874.Salter reported from O'Fallon, Missouri. Steve Karnowski in St. Paul, Minnesota; Scott McFetridge in Des Moines, Iowa; Margaret Stafford in Kansas City, Missouri, and Christopher Weber in Los Angeles contributed to this report.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/COST/2023.02.22/Parts of northern US shut down, part of wild day of weather.txt b/news/COST/2023.02.22/Parts of northern US shut down, part of wild day of weather.txt new file mode 100644 index 0000000000000000000000000000000000000000..26ab03aabea2a524d5d5915f9930532e8a420053 --- /dev/null +++ b/news/COST/2023.02.22/Parts of northern US shut down, part of wild day of weather.txt @@ -0,0 +1 @@ +MINNEAPOLIS (AP) — States in the northern plains are largely shutting down ahead of a massive winter storm that could dump up to 2 feet of snow in some areas, accompanied by strong winds and dangerously cold temperatures.Many schools throughout the Dakotas, Minnesota and Wisconsin were called off for Wednesday, ahead of the storm. Offices closed, and so did the Minnesota Legislature, which won't reconvene until Monday. Emergency management leaders warned people to stay off the roads or face potential “whiteout” conditions due to the snow and fierce winds.The storm will make its way toward the East Coast later in the week. Places that don't get snow may get dangerous amounts of ice. Forecasters expect up to a half-inch of ice in some areas of southern Michigan, northern Illinois and some eastern states.The snowfall could be historic, even in a region accustomed to heavy snow. As much as 25 inches may pile up, with the heaviest amounts falling across east-central Minnesota and west-central Wisconsin, the National Weather Service said. Wind gusts could reach 50 mph and wind chills are expected to hit minus 50 degrees Fahrenheit (minus 46 degrees Celsius) in some parts of the Dakotas and Minnesota.The Minneapolis-St. Paul area could see 2 feet (61 centimeters) of snow or more for the first time in over 30 years.Some families scrambled Tuesday to get shopping done before the weather closed in. At a Costco in the Minneapolis suburb of St. Louis Park, Molly Schirmer stocked up on heat-and-serve dinners and Mexican Coca-Colas, knowing that she and her two teenagers might get stuck at home.“The schools are already preparing to go online, so the kids will probably be home doing online school,” Schirmer said of her 13- and 15-year-olds.At another Costco in suburban Eagan, Larry and Sue Lick bought toilet paper, kitchen essentials and coffee ahead of the storm. They also rescheduled medical appointments and a family gathering, just to stay off the roads.“It’s not so much our driving, but you’ve got to worry about everybody else driving, with so many accidents caused by people that don’t know the winter driving,” said Larry Lick, 77.The weather service said the blizzard will actually involve two rounds. For the Minneapolis-St. Paul area, the first blast arrives Wednesday afternoon with up to 7 inches of snow. Round 2 starting later Wednesday and extending into Thursday is the real whopper, “with an additional 10 to 20 inches expected.”Weather service meteorologist Frank Pereira said the system was expected to affect about 43 million Americans.Temperatures could plunge to minus 15 to minus 20 degrees Fahrenheit (minus 26 to minus 29 degrees Celsius) Thursday and to minus 25 degrees Fahrenheit (minus 32 degrees Celsius) Friday in Grand Forks, North Dakota. Wind chills may fall to minus 50 degrees Fahrenheit (minus 46 degrees Celsius), said Nathan Rick, a meteorologist in Grand Forks.Wind gusts of 35 mph will be common in western and central Minnesota, with some reaching 50 mph. That will result in “significant blowing and drifting snow with whiteout conditions in open areas,” the weather service said.According to the weather service, the biggest snow event on record in the Twin Cities was 28.4 inches from Oct. 31 through Nov. 3, 1991 — known as the Halloween Blizzard. The second-largest was 21.1 inches of snow from Nov. 29 through Dec. 1, 1985. The Twin Cities got 20 inches of snow on Jan. 22 and Jan. 23, 1982.Hardware store owners said residents were generally taking the forecast in stride.At C&S Supply, an employee-owned hardware store in Mankato, manager Corey Kapaun said demand was high for salt and grit, but not for shovels, snow blowers or other equipment. He attributed that to the fact that winter is two-thirds over.Kapaun said he’s sold 130 to 140 snow blowers and around 1,000 shovels this winter, when Mankato has seen more than 3 feet of snow.“I think people are either prepared or they’re not,” Kapaun said. “It’s usually the first snowfall of the year that gets a lot of attention. With a storm like this, I expected a little bit more, but we’ve already had a big year of snow already.”In Sioux Falls, Dallas VandenBos has owned Robson True Value hardware store for 48 years. His customers are used to the snow, but don’t necessarily trust the forecast.“When we had that storm the first part of January, they told us we were probably going to get 3 or 4 inches of snow, and we got 18 inches,” VandenBos said.Sales of snow-related items haven’t really picked up, but VandenBos has a backlog of snow blowers to repair. Those bringing them in Tuesday were out of luck — they won't be ready for a week.“They’re not going to get them in time for this snow,” VandenBos said.Forecasters at AccuWeather said the same storm system could result in icing across a 1,300-mile (2,092 -kilometer) band from near Omaha, Nebraska, to New Hampshire on Wednesday and Thursday, creating potential travel hazards in or near cities such as Milwaukee, Detroit, Chicago and Boston.As the northern U.S. deals with a winter blast, record warmth is expected in the mid-Atlantic and Southeast — 30 degrees to 40 degrees above normal in some places. Record highs are expected from Baltimore to New Orleans and in much of Florida, Pereira said.Washington, D.C., could hit 80 degrees on Thursday, which would top the record of 78 degrees set in 1874.California was also preparing for the latest in a series of winter storms as winds that began blowing Tuesday brought the potential for rain, snow and hail for much of the state. A “major snow event” was possible in foothills and mountains near Los Angeles, with several inches predicted even for elevations as low as 1,000 feet, the National Weather Service said.“Nearly the entire population of CA will be able to see snow from some vantage point later this week if they look in the right direction (i.e., toward the highest hills in vicinity),” UCLA climate scientist Daniel Swain wrote on Twitter.Daytime temperatures in Southern California were unlikely to get out of the low to mid-50s and potentially damaging winds reaching 50 mph were predicted along the central coast, with gusts of 70 mph possible in mountains.Salter reported from O'Fallon, Missouri. Steve Karnowski in St. Paul, Minnesota, Scott McFetridge in Des Moines, Iowa, Margaret Stafford in Kansas City, Missouri, and Christopher Weber in Los Angeles contributed to this report.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/COST/2023.02.24/Food makers, feeling squeezed, pull the plug on slow-selling products.txt b/news/COST/2023.02.24/Food makers, feeling squeezed, pull the plug on slow-selling products.txt new file mode 100644 index 0000000000000000000000000000000000000000..7be13e0488ca229a0bcdb12a3525bb82cd75c10b --- /dev/null +++ b/news/COST/2023.02.24/Food makers, feeling squeezed, pull the plug on slow-selling products.txt @@ -0,0 +1 @@ +Many companies started slimming their offerings during the pandemic and are aggressively renewing those efforts, eliminating less-popular items to focus on products on which they can more easily raise prices amid prolonged inflation on food items. Executives at Nestle SA and Unilever Plc said they have seen billions in savings after ditching the laggards in their product portfolios.Conagra recently discontinued a Marie Callender's chocolate chip cookie dough cream pie to make room for what the U.S. food company hopes will be a faster-selling no sugar added apple pie."No one will have a perfect batting average," said Chief Executive Sean Connolly in an interview. "The key is to have more winners than losers."Eliminating less popular products is part of a "decomplexity program" underway at Kraft Heinz, its executives said at the Consumer Analyst Group of New York Conference this week. It recently discontinued Heinz Real Mayonnaise. Mondelez International Inc CEO Dirk Van de Put told Wall Street analysts at the conference that the Oreo maker had clear rules on replacing old products with new ones - "one in, one out." Martin Renaud, a top marketing executive at Mondelez, told Reuters the chocolate manufacturer has "too many flavors.""We sometimes have the tendency to launch a lot of things because they are exciting but we need to be very rigorous," Renaud said. As Mondelez adds products with different price points, it adds complexity, he added. "I am a big advocate of simplicity."Companies cull product offerings to make room for new iterations of their most popular items, such as smaller-sized versions for dollar stores or larger ones for warehouse chains like Costco, said Justin Cook, U.S. consumer products research leader at Deloitte. Cash-strapped shoppers are more frequently looking for bargains at both types of retailers."It's more expensive to make a lower-volume product," Cook said. "If it's not a high-performing item that people absolutely have to have, companies feel it's harder to raise price." Nestle said cutting products saved 1 billion Swiss francs last year ($1.06 billion), while Unilever said the practice saved $2 billion.Retailers are also demanding new, fast-selling products to enhance their own faltering sales. Products most likely to get the boot are those with niche or limited popularity.Heinz Real Mayonnaise has a small share of the global market, according to the research firm Euromonitor. For some consumers, such cuts can be jarring.Vinh Banh said in an email he has long used Heinz Real Mayonnaise for sandwiches and deviled eggs. He was disappointed to discover this month that Kraft had killed the product, which it launched in 2018. Banh, 34, from Garland, Texas, said he is on the hunt for any remaining jars he can find. Kellogg Co ditched its line of Special K protein shakes and Nestle axed Lean Cuisine paninis, frozen Sweet Earth Benevolent Bacon and Sweet Earth Vegan Hot Dogs, spokespeople for the companies confirmed.'PREPPING FOR A SLOWDOWN'In some cases, suppliers are bowing to retailer plans to reduce inventory, hoping that cutting product lines will make stores more efficient and less costly to run and stock. Walmart told Reuters it was seeking more data from suppliers to justify pricing and pushing for more creative ways to defray costs and cushion price hikes to consumers."We recognize that price concerns are more elevated at this point in time, but that's where we can lean in and have data driven negotiations with our suppliers," Chief Financial Officer John David Rainey said. "I have seen a lot of reduction in inventory purchases this year," Kelly Pedersen, a partner at PwC, said at the National Retail Federation conference in January. "Everyone is prepping for a slowdown."Unilever, which makes Magnum and Ben & Jerry's, is slimming the variety of ice cream it sells, finance chief Graeme Pitkethly said this month on an earnings call.The company has for over two years used artificial intelligence in its 'Polaris' program to help manage its assortment. It credited Polaris as it cut its variety of products by about 20%. Unilever also trimmed about 5,000 types of products in the personal care category. Food makers tend to cull products without much fanfare. At the consumer products conference they highlighted new offerings, many of them increasingly popular handheld foods that people can eat while scrolling on phones.That does not mean consumers don't notice when a beloved item disappears from the shelf.John Finn, 35, runs a Twitter page called "Discontinued Foods" with over 23,000 followers. "You'd be shocked by the loyalty and personal connections people have to food products," he said. (Reporting by Richa Naidu and Jessica DiNapoli; additional reporting by Siddharth Cavale; Editing by Bill Berkrot)By Jessica DiNapoli and Richa Naidu \ No newline at end of file diff --git a/news/COST/2023.02.27/U.S. retailers' ocean shipping price woes ending as new delays threaten.txt b/news/COST/2023.02.27/U.S. retailers' ocean shipping price woes ending as new delays threaten.txt new file mode 100644 index 0000000000000000000000000000000000000000..e66ee37e2110fbca2ebfb5381a86137090195e2b --- /dev/null +++ b/news/COST/2023.02.27/U.S. retailers' ocean shipping price woes ending as new delays threaten.txt @@ -0,0 +1 @@ +Carriers like MSC and Maersk are trying to prop up prices by cancelling voyages and that could spark a new round of cargo delays as containers get bumped from one ship to the next, experts said ahead of a major U.S. ocean shipping conference in Long Beach, California, this week. The event, called TPM23, marks the unofficial kickoff of the container shipping contract negotiating season when carriers and their U.S. customers ranging from Walmart Inc to mom and pop merchants and exporters of all stripes hammer out annual price and volume agreements.Those closely watched, and often contentious, negotiations matter because the Asia-U.S. trade lane is the most lucrative for carriers, and those contracts set the tone for talks in other regions.Any shipper savings gleaned from those deals could come with a new headache though - late deliveries.The Port of Los Angeles reported 17 canceled voyages in January and warned of more to come. "If (carriers) keep bumping containers, we could end up missing Christmas," said Isaac Larian, chief executive of Southern California toy maker MGA Entertainment. MGA's team has already switched around 75% of shipments of products like Rainbow High and L.O.L. Surprise! dolls to the short-term spot market from the long-term contract market. The company is paying around $1,150 per container - a cost savings of more than $18,000 from peak, Larian said. Volatile spot rates were the first to plummet when pandemic-weary consumers shifted spending from goods to travel and entertainment. Now the gap between spot and contract rates is closing, pressured by the threat of recession and competition to fill ships, said Peter Sand, chief analyst at air and ocean freight rate benchmarking platform Xeneta. SHIPPERS' REVENGE When demand was booming, carriers raked in record profits by focusing on the most lucrative cargo. Critical customers had to jostle for space and the likes of Walmart, Costco Wholesale Corp and Dollar Tree Inc chartered ships to keep shelves stocked. But the tables have turned, and shippers want payback for ocean cargo costs that quadrupled in some cases. It is "shippers' revenge," said Jon Monroe, an industry consultant and North American representative of Singapore-based Transfar Shipping, whose investors include China e-commerce giant Alibaba. "There was a time when everybody looked for a win-win. COVID threw that right off the tracks," he said. Previously loyal customers are aggressively comparison- shopping, spreading their business around and gambling on the spot market, experts said.The nonbinding nature of ocean contracts drives customers or carriers to push for everything they can get when leverage swings their way, said Lawrence Burns, a consultant who formerly handled negotiations for Hyundai Merchant Marine. This time around, importer and exporter shipping managers, whose costs exploded when they were unexpectedly forced into the sky-high spot market, have the upper hand. "They've been called into the CEO's office too many times in the last two years. They're coming back for blood," Burns said.Customers and carriers do not often discuss contract talks, but in recent earnings calls officials for Walmart - the No. 1 U.S. container shipper - furniture retailer La-Z-Boy, toy maker Mattel Inc and musical instrument seller Yamaha said they expected to benefit from lower rates. (Reporting by Lisa Baertlein in Long Beach, Calif.; Editing by Ben Klayman and Matthew Lewis)By Lisa Baertlein \ No newline at end of file diff --git a/news/COST/2023.02.27/U.S. retailers' ocean shipping price woes ending, but new delays threaten.txt b/news/COST/2023.02.27/U.S. retailers' ocean shipping price woes ending, but new delays threaten.txt new file mode 100644 index 0000000000000000000000000000000000000000..0a5d55eb62eae1d5022862dc2a9dd56b2ec8d8e7 --- /dev/null +++ b/news/COST/2023.02.27/U.S. retailers' ocean shipping price woes ending, but new delays threaten.txt @@ -0,0 +1,54 @@ +LONG BEACH, Calif., Feb 27 (Reuters) - Collapsing ocean +shipping rates would seem to be good news for U.S. retailers, +but they are now bracing for delays as some carriers try to prop +up prices by cancelling voyages.Retailers had paid as much as $20,000 to move a container of +goods during the worst pandemic disruptions.Carriers like MSC and Maersk are trying to +boost prices by cancelling voyages, which could spark a new +round of cargo delays as containers get bumped from one ship to +the next, experts said ahead of a major U.S. ocean shipping +conference in Long Beach, California, this week.The event, called TPM23, marks the unofficial kickoff of the +container shipping contract negotiating season when carriers and +their U.S. customers ranging from Walmart Inc to mom and +pop merchants and exporters of all stripes hammer out annual +price and volume agreements.Those closely watched, and often contentious, negotiations +matter because the Asia-U.S. trade lane is the most lucrative +for carriers, and those contracts set the tone for talks in +other regions.Any shipper savings gleaned from those deals could come with +a new headache though - late deliveries.The Port of Los Angeles reported 17 canceled voyages in +January and warned of more to come."If (carriers) keep bumping containers, we could end up +missing Christmas," said Isaac Larian, chief executive of +Southern California toy maker MGA Entertainment.MGA's team has already switched around 75% of shipments of +products like Rainbow High and L.O.L. Surprise! dolls to the +short-term spot market from the long-term contract market. The +company is paying around $1,150 per container - a cost savings +of more than $18,000 from peak, Larian said.Volatile spot rates were the first to plummet when +pandemic-weary consumers shifted spending from goods to travel +and entertainment. Now the gap between spot and contract rates +is closing, pressured by the threat of recession and competition +to fill ships, said Peter Sand, chief analyst at air and ocean +freight rate benchmarking platform Xeneta.SHIPPERS' REVENGEWhen demand was booming, carriers raked in record profits by +focusing on the most lucrative cargo. Critical customers had to +jostle for space and the likes of Walmart, Costco Wholesale Corp +and Dollar Tree Inc chartered ships to keep +shelves stocked.But the tables have turned, and shippers want payback for +ocean cargo costs that quadrupled in some cases.It is "shippers' revenge," said Jon Monroe, an industry +consultant and North American representative of Singapore-based +Transfar Shipping, whose investors include China e-commerce +giant Alibaba."There was a time when everybody looked for a win-win. COVID +threw that right off the tracks," he said.Previously loyal customers are aggressively comparison- +shopping, spreading their business around and gambling on the +spot market, experts said.The nonbinding nature of ocean contracts drives customers or +carriers to push for everything they can get when leverage +swings their way, said Lawrence Burns, a consultant who formerly +handled negotiations for Hyundai Merchant Marine.This time around, importer and exporter shipping managers, +whose costs exploded when they were unexpectedly forced into the +sky-high spot market, have the upper hand."They've been called into the CEO's office too many times in +the last two years. They're coming back for blood," Burns said.Asked if large customers are signing deals at near spot +rates, MSC Vice President Allen Clifford said, "I suppose some +are." Soren Toft, chief executive of the world's biggest +carrier, declined to comment onstage at TPM23 on Monday.Customers and carriers do not often discuss contract talks, +but in recent earnings calls officials for Walmart - the No. 1 +U.S. container shipper - furniture retailer La-Z-Boy, +toy maker Mattel Inc and musical instrument seller +Yamaha said they expected to benefit from lower rates.(Reporting by Lisa Baertlein in Long Beach, Calif. +Editing by Ben Klayman and Matthew Lewis) \ No newline at end of file diff --git a/news/CPRT/2023.01.26/Tesla, insurers take different paths to deal with expensive repairs.txt b/news/CPRT/2023.01.26/Tesla, insurers take different paths to deal with expensive repairs.txt new file mode 100644 index 0000000000000000000000000000000000000000..8d742fcf6487155a7a2084de0210595fa18a00c8 --- /dev/null +++ b/news/CPRT/2023.01.26/Tesla, insurers take different paths to deal with expensive repairs.txt @@ -0,0 +1 @@ +Chief Executive Elon Musk says Tesla is making design and software changes to its vehicles to lower repair costs and insurance premiums. Insurance carriers, meanwhile, are writing off low-mileage Tesla Model Ys that have been in crashes, and sending them to salvage auctions after deeming many too expensive to repair.During Tesla's fourth-quarter earnings call on Wednesday, Musk said premiums from third-party insurance companies "in some cases were unreasonably high" and that the EV maker's insurance arm was putting pressure on those carriers by offering lower rates to Tesla owners.Musk also said "we want to minimize the cost of repairing a Tesla if it's in a collision," citing changes to vehicle design and software."It's remarkable how small changes in the design of the bumper (and) providing spare parts needed for collision repair have an enormous effect on the repair cost," he said. "Most accidents are actually small -- a broken fender or scratched side of the car." Tesla did not respond to a request for further comment.So far, Tesla's reputation for expensive vehicle repairs does not seem to have dampened demand, which Musk says is running well ahead of the company's ability to produce.SALVAGED The data on crashed low-mileage Teslas showing up at auction presents a slightly different - and previously unreported - picture, according to a Reuters analysis.Of more than 120 Model Ys that were totaled after collisions, then listed at auction in December and early January, the vast majority had fewer than 10,000 miles on the odometer, according to online data from Copart and IAA, the two largest salvage auction houses in the United States.The retail prices of those cars ranged from about $60,000 to more than $80,000.Copart and IAA auction listings note whether the vehicles were involved in front, rear or side collisions, and typically include after-crash photos of each vehicle. But the listings do not disclose specific details on the type of damage suffered.Insurance companies typically "total" a vehicle - that is, choose to scrap it and reimburse the owner - when the estimated cost of repair is deemed too high.Copart listings in some cases included the names of insurance companies that had bought back crashed vehicles, then listed them at auction. Those companies include State Farm, Geico, Progressive and Farmers. Geico is part of Warren Buffet's Berkshire Hathaway Inc.Insurance companies contacted by Reuters either declined to comment or did not respond immediately to requests.LOW MILEAGE Tesla launched its own insurance affiliate in August 2019, promising rates up to 30% lower than competitors.During Wednesday's earnings call, Chief Financial Officer Zachary Kirkhorn said Tesla Insurance at year-end was generating premiums at an annual rate of $300 million and growing at a quarterly clip of 20% - "faster than the growth in our vehicle business."All the Model Ys in the Reuters analysis were 2022 or 2023 models, and were built at either the Fremont plant in Northern California or the Austin, Texas, plant.Of the 15 Model Y Long Range vehicles built in Austin from June through November and sent to auction after being totaled in crashes, all but one had fewer than 10,000 miles on the odometer.An Austin-built 2022 Model Y Long Range involved in a front collision and listed by IAA in early January had a retail price of $61,388 and estimated repair cost of $50,388. The vehicle's owner was not listed.A second Austin-built Model Y, involved in a side collision and listed by IAA, had a retail price of $72,667 and estimated repair cost of $43,814.Representatives from Copart and IAA were not immediately available for comment. (Reporting by Paul Lienert in Detroit; Editing by Matthew Lewis)By Paul Lienert \ No newline at end of file diff --git a/news/CPRT/2023.02.06/Fourth Ritchie Bros shareholder questions acquisition of IAA.txt b/news/CPRT/2023.02.06/Fourth Ritchie Bros shareholder questions acquisition of IAA.txt new file mode 100644 index 0000000000000000000000000000000000000000..daec11a116b4165ec8b9dadcfbd72861b9b5a0a0 --- /dev/null +++ b/news/CPRT/2023.02.06/Fourth Ritchie Bros shareholder questions acquisition of IAA.txt @@ -0,0 +1 @@ +"In our view, the deal adds risk to Ritchie Bros, and added risk beyond just typical integration risk, as IAA had been a weakening asset relative to its larger peer Copart Inc," Chul Chang, Vontobel portfolio manager, told Reuters via email."We believe there is good opportunity in the standalone Ritchie Bros business, and the deal complicates the investment thesis."Vontobel Asset Management owns 1.67% of Ritchie Bros shares and 0.25% of Copart shares, according to U.S. filings compiled by Refinitiv Eikon."We have heard from numerous new and existing Ritchie Bros. shareholders who support the IAA acquisition and recognize the substantial value it creates," a Ritchie Bros spokesperson said on Monday.Ritchie Bros on Jan. 23 sweetened the cash component of its buyout offer for IAA by 28%, valuing the U.S. auto retailer at $5.94 billion, and also secured the backing of a key IAA shareholder that had questioned the initial offer.While four Ritchie Bros shareholders have publicly opposed the deal, three are supportive, according to statements and sources.Last week, Ritchie Bros' shareholders Janus Henderson Investors and Deep Field Asset Management came out against the company's planned acquisition of IAA.Investment firm Luxor Capital Group, which owns 3.6% of Ritchie Bros stock, has been a vocal opponent of the deal,But Eagle Asset Management and Independent Franchise Partners, which own 2.92% and 4.75% respectively of Ritchie Bros, helmed by Chief Executive Ann Fandozzi, plan to vote for the proposed deal, according to Refinitiv Eikon data and sources.IAA shares ended down 0.9% on Monday at $42.16, a 5% discount to Ritchie Bros' offer price. Ritchie shares fell 0.4%. (Reporting by Maiya Keidan; editing by Jonathan Oatis and Stephen Coates) \ No newline at end of file diff --git a/news/CPRT/2023.02.13/Copart, Inc. to Release Second Quarter Fiscal 2023 Results.txt b/news/CPRT/2023.02.13/Copart, Inc. to Release Second Quarter Fiscal 2023 Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..415426937ff91d5d37b687671b550db2f9a3f713 --- /dev/null +++ b/news/CPRT/2023.02.13/Copart, Inc. to Release Second Quarter Fiscal 2023 Results.txt @@ -0,0 +1,9 @@ + +Copart, Inc. (NASDAQ: CPRT) announced today that it will release earnings for the second quarter of fiscal 2023 after 4:00 p.m. Eastern Time (3:00 p.m. Central) on Monday, February 20, 2023. + +On Tuesday, February 21, 2023, at 11:00 a.m. Eastern Time (10:00 a.m. Central), Copart will conduct a conference call to discuss the results for the quarter. The call will be webcast live and can be accessed via hyperlink at www.copart.com/investorrelations. A replay of the call will be available through May 2023 by visiting www.copart.com/investorrelations. + +About Copart + +Copart, Inc., founded in 1982, is a global leader in online vehicle auctions. Copart’s innovative technology and online auction platform links sellers to more than 750,000 members in over 190 countries. Copart offers services to process and sell vehicles to dealers, dismantlers, rebuilders, exporters, and to the general public. Copart sells vehicles on behalf of insurance companies, banks, finance companies, charities, fleet operators, dealers, vehicle rental companies, and individuals. With operations at over 200 locations in 11 countries, Copart has more than 250,000 vehicles available online every day. Copart currently operates in the United States (Copart.com), Canada (Copart.ca), the United Kingdom (Copart.co.uk), Brazil (Copart.com.br), the Republic of Ireland (Copart.ie), Germany (Copart.de), Finland (Copart.fi), the United Arab Emirates, Oman and Bahrain (Copartmea.com), and Spain (Copart.es). For more information, or to become a Member, visit Copart.com/Register. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230213005653/en/ \ No newline at end of file diff --git a/news/CPRT/2023.02.20/Copart Reports Second Quarter Fiscal 2023 Financial Results.txt b/news/CPRT/2023.02.20/Copart Reports Second Quarter Fiscal 2023 Financial Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..e873e484d409c8b42288f2269f63ccb76c1bc83c --- /dev/null +++ b/news/CPRT/2023.02.20/Copart Reports Second Quarter Fiscal 2023 Financial Results.txt @@ -0,0 +1,2929 @@ + +Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter ended January 31, 2023. + +For the three months ended January 31, 2023, revenue, gross profit, and net income were $956.7 million, $426.5 million, and $293.7 million, respectively. These represent an increase in revenue of $89.3 million, or 10.3%; an increase in gross profit of $23.2 million, or 5.7%; and an increase in net income of $6.3 million, or 2.2%, respectively, from the same period last year. Fully diluted earnings per share for the three months were $0.61 compared to $0.60 last year, an increase of 1.7%. + +For the six months ended January 31, 2023, revenue, gross profit, and net income were $1,850.1 million, $796.0 million, and $539.5 million, respectively. These represent an increase in revenue of $172.5 million, or 10.3%; an increase in gross profit of $7.6 million, or 1.0%; and a decrease in net income of $8.3 million, or (1.5)%, respectively, from the same period last year. Fully diluted earnings per share for the six months were $1.12 compared to $1.14 last year, a decrease of (1.8)%. + +Excluding the impact of certain discrete income tax items and certain income tax benefits related to stock-based compensation, non-GAAP fully diluted earnings per share for the three months ended January 31, 2023 and 2022 were $0.61, and $0.55, respectively, which was an increase of 10.9%. Excluding the impact of certain discrete income tax items and certain income tax benefits related to stock-based compensation, non-GAAP fully diluted earnings per share for the six months ended January 31, 2023 and 2022, were $1.12, and $1.08, respectively, which was an increase of 3.7%. A reconciliation of non-GAAP financial measures to the most directly comparable financial measures computed in accordance with U.S. generally accepted accounting principles (GAAP) can be found in the tables attached to this press release. + +On Tuesday, February 21, 2023, at 11 a.m. Eastern Time, Copart will conduct a conference call to discuss the results for the quarter. The call will be webcast live and can be accessed via hyperlink at www.copart.com/investorrelations. A replay of the call will be available through May 2023 by visiting www.copart.com/investorrelations. + +About Copart + +Copart, Inc., founded in 1982, is a global leader in online vehicle auctions. Copart’s innovative technology and online auction platform links sellers to more than 750,000 members in over 190 countries. Copart offers services to process and sell vehicles to dealers, dismantlers, rebuilders, exporters, and to the general public. Copart sells vehicles on behalf of insurance companies, banks, finance companies, charities, fleet operators, dealers, vehicle rental companies, and individuals. With operations at over 200 locations in 11 countries, Copart has more than 250,000 vehicles available online every day. Copart currently operates in the United States (Copart.com), Canada (Copart.ca), the United Kingdom (Copart.co.uk), Brazil (Copart.com.br), the Republic of Ireland (Copart.ie), Germany (Copart.de), Finland (Copart.fi), the United Arab Emirates, Oman and Bahrain (Copartmea.com), and Spain (Copart.es). For more information, or to become a Member, visit Copart.com/Register. + +Copart, Inc. + +Use of Non-GAAP Financial Measures + +Included in this release are certain non-GAAP financial measures, including non-GAAP net income per diluted share, which exclude the impact of certain discrete income tax items and certain income tax benefits related to stock-based compensation. These non-GAAP financial measures do not represent alternative financial measures under GAAP. In addition, these non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. Furthermore, these non-GAAP financial measures do not reflect a comprehensive view of Copart’s operations in accordance with GAAP and should only be read in conjunction with the corresponding GAAP financial measures. This information constitutes non-GAAP financial measures within the meaning of Regulation G adopted by the U.S. Securities and Exchange Commission. Accordingly, Copart has presented herein, and will present in other information it publishes that contains these non-GAAP financial measures, a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures. + +Copart believes the presentation of non-GAAP net income per diluted share included in this release in conjunction with the corresponding GAAP financial measures provides meaningful information for investors, analysts and management in assessing Copart’s business trends and financial performance. + +Cautionary Note About Forward-Looking Statements + +This press release contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements are subject to substantial risks and uncertainties. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected or implied by our statements and comments. For a more complete discussion of the risks that could affect our business, please review the “Management’s Discussion and Analysis” and the other risks identified in Copart’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. We encourage investors to review these disclosures carefully. We do not undertake to update any forward-looking statement that may be made from time to time on our behalf. + +Copart, Inc. + +Consolidated Statements of Income + +(In thousands, except per share amounts) + +(Unaudited) + +  + +  + +Three Months Ended + +January 31, + +  + +Six Months Ended + +January 31, + +  + +  + +  + +2023 + +  + +  + +  + +2022 + +  + +  + +% Change + +  + +  + +2023 + +  + +  + +  + +2022 + +  + +  + +% Change + +Service revenues and vehicle sales: + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Service revenues + +  + +$ + +789,797 + +  + +  + +$ + +711,090 + +  + +  + +11.1 + +% + +  + +$ + +1,516,637 + +  + +  + +$ + +1,378,908 + +  + +  + +10.0 + +% + +Vehicle sales + +  + +  + +166,927 + +  + +  + +  + +156,370 + +  + +  + +6.8 + +% + +  + +  + +333,459 + +  + +  + +  + +298,684 + +  + +  + +11.6 + +% + +Total service revenues and vehicle sales + +  + +  + +956,724 + +  + +  + +  + +867,460 + +  + +  + +10.3 + +% + +  + +  + +1,850,096 + +  + +  + +  + +1,677,592 + +  + +  + +10.3 + +% + +Operating expenses: + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Yard operations + +  + +  + +340,085 + +  + +  + +  + +294,098 + +  + +  + +15.6 + +% + +  + +  + +677,057 + +  + +  + +  + +565,374 + +  + +  + +19.8 + +% + +Cost of vehicle sales + +  + +  + +154,727 + +  + +  + +  + +140,304 + +  + +  + +10.3 + +% + +  + +  + +305,839 + +  + +  + +  + +266,712 + +  + +  + +14.7 + +% + +Yard depreciation and amortization + +  + +  + +34,070 + +  + +  + +  + +28,301 + +  + +  + +20.4 + +% + +  + +  + +68,430 + +  + +  + +  + +54,738 + +  + +  + +25.0 + +% + +Yard stock-based compensation + +  + +  + +1,342 + +  + +  + +  + +1,415 + +  + +  + +(5.2 + +)% + +  + +  + +2,787 + +  + +  + +  + +2,396 + +  + +  + +16.3 + +% + +Gross profit + +  + +  + +426,500 + +  + +  + +  + +403,342 + +  + +  + +5.7 + +% + +  + +  + +795,983 + +  + +  + +  + +788,372 + +  + +  + +1.0 + +% + +General and administrative + +  + +  + +47,842 + +  + +  + +  + +42,754 + +  + +  + +11.9 + +% + +  + +  + +92,377 + +  + +  + +  + +83,869 + +  + +  + +10.1 + +% + +General and administrative depreciation and amortization + +  + +  + +4,344 + +  + +  + +  + +5,013 + +  + +  + +(13.3 + +)% + +  + +  + +9,042 + +  + +  + +  + +10,336 + +  + +  + +(12.5 + +)% + +General and administrative stock-based compensation + +  + +  + +8,789 + +  + +  + +  + +8,247 + +  + +  + +6.6 + +% + +  + +  + +17,536 + +  + +  + +  + +16,718 + +  + +  + +4.9 + +% + +Total operating expenses + +  + +  + +591,199 + +  + +  + +  + +520,132 + +  + +  + +13.7 + +% + +  + +  + +1,173,068 + +  + +  + +  + +1,000,143 + +  + +  + +17.3 + +% + +Operating income + +  + +  + +365,525 + +  + +  + +  + +347,328 + +  + +  + +5.2 + +% + +  + +  + +677,028 + +  + +  + +  + +677,449 + +  + +  + +(0.1 + +)% + +Other expense: + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Interest income (expense), net + +  + +  + +14,480 + +  + +  + +  + +(4,433 + +) + +  + +(426.6 + +)% + +  + +  + +18,902 + +  + +  + +  + +(9,540 + +) + +  + +(298.1 + +)% + +Other expense, net + +  + +  + +(2,902 + +) + +  + +  + +(840 + +) + +  + +245.5 + +% + +  + +  + +(5,724 + +) + +  + +  + +(28 + +) + +  + +20342.9 + +% + +Total other income (expense) + +  + +  + +11,578 + +  + +  + +  + +(5,273 + +) + +  + +(319.6 + +)% + +  + +  + +13,178 + +  + +  + +  + +(9,568 + +) + +  + +237.7 + +% + +Income before income taxes + +  + +  + +377,103 + +  + +  + +  + +342,055 + +  + +  + +10.2 + +% + +  + +  + +690,206 + +  + +  + +  + +667,881 + +  + +  + +3.3 + +% + +Income tax expense + +  + +  + +83,426 + +  + +  + +  + +54,643 + +  + +  + +52.7 + +% + +  + +  + +150,681 + +  + +  + +  + +120,106 + +  + +  + +25.5 + +% + +Net income + +  + +$ + +293,677 + +  + +  + +$ + +287,412 + +  + +  + +2.2 + +% + +  + +$ + +539,525 + +  + +  + +$ + +547,775 + +  + +  + +(1.5 + +)% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Basic net income per common share + +  + +$ + +0.62 + +  + +  + +$ + +0.61 + +  + +  + +1.6 + +% + +  + +$ + +1.13 + +  + +  + +$ + +1.15 + +  + +  + +(1.7 + +)% + +Weighted average common shares outstanding + +  + +  + +476,376 + +  + +  + +  + +474,372 + +  + +  + +0.4 + +% + +  + +  + +476,237 + +  + +  + +  + +474,334 + +  + +  + +0.4 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Diluted net income per common share + +  + +$ + +0.61 + +  + +  + +$ + +0.60 + +  + +  + +1.7 + +% + +  + +$ + +1.12 + +  + +  + +$ + +1.14 + +  + +  + +(1.8 + +)% + +Diluted weighted average common shares outstanding + +  + +  + +482,536 + +  + +  + +  + +482,374 + +  + +  + +— + +% + +  + +  + +482,238 + +  + +  + +  + +482,488 + +  + +  + +(0.1 + +)% + +Copart, Inc. + +Consolidated Balance Sheets + +(In thousands) + +(Unaudited) + +  + +  + +January 31, 2023 + +  + +July 31, 2022 + +ASSETS + +  + +  + +  + +  + +Current assets: + +  + +  + +  + +  + +Cash, cash equivalents, and restricted cash + +  + +$ + +1,660,952 + +  + +  + +$ + +1,384,236 + +  + +Accounts receivable, net + +  + +  + +765,192 + +  + +  + +  + +578,573 + +  + +Vehicle pooling costs + +  + +  + +133,598 + +  + +  + +  + +112,242 + +  + +Inventories + +  + +  + +52,071 + +  + +  + +  + +58,791 + +  + +Income taxes receivable + +  + +  + +436 + +  + +  + +  + +49,882 + +  + +Prepaid expenses and other assets + +  + +  + +26,532 + +  + +  + +  + +18,731 + +  + +Total current assets + +  + +  + +2,638,781 + +  + +  + +  + +2,202,455 + +  + +Property and equipment, net + +  + +  + +2,656,273 + +  + +  + +  + +2,485,764 + +  + +Operating lease right-of-use assets + +  + +  + +106,656 + +  + +  + +  + +116,303 + +  + +Intangibles, net + +  + +  + +51,186 + +  + +  + +  + +54,680 + +  + +Goodwill + +  + +  + +404,046 + +  + +  + +  + +401,954 + +  + +Other assets + +  + +  + +75,466 + +  + +  + +  + +47,708 + +  + +Total assets + +  + +$ + +5,932,408 + +  + +  + +$ + +5,308,864 + +  + +  + +  + +  + +  + +  + +LIABILITIES AND STOCKHOLDERS’ EQUITY + +  + +  + +  + +  + +Current liabilities: + +  + +  + +  + +  + +Accounts payable and accrued liabilities + +  + +$ + +439,271 + +  + +  + +$ + +399,034 + +  + +Deferred revenue + +  + +  + +23,796 + +  + +  + +  + +20,061 + +  + +Income taxes payable + +  + +  + +3,820 + +  + +  + +  + +— + +  + +Current portion of operating and finance lease liabilities + +  + +  + +20,736 + +  + +  + +  + +21,794 + +  + +Total current liabilities + +  + +  + +487,623 + +  + +  + +  + +440,889 + +  + +Deferred income taxes + +  + +  + +76,471 + +  + +  + +  + +80,060 + +  + +Income taxes payable + +  + +  + +65,322 + +  + +  + +  + +64,637 + +  + +Operating and finance lease liabilities, net of current portion + +  + +  + +87,394 + +  + +  + +  + +95,683 + +  + +Long-term debt and other liabilities + +  + +  + +1,946 + +  + +  + +  + +1,996 + +  + +Total liabilities + +  + +  + +718,756 + +  + +  + +  + +683,265 + +  + +Commitments and contingencies + +  + +  + +  + +  + +Stockholders' equity: + +  + +  + +  + +  + +Preferred stock + +  + +  + +— + +  + +  + +  + +— + +  + +Common stock + +  + +  + +48 + +  + +  + +  + +48 + +  + +Additional paid-in capital + +  + +  + +875,009 + +  + +  + +  + +838,508 + +  + +Accumulated other comprehensive loss + +  + +  + +(156,507 + +) + +  + +  + +(169,365 + +) + +Retained earnings + +  + +  + +4,495,102 + +  + +  + +  + +3,956,408 + +  + +Total stockholders' equity + +  + +  + +5,213,652 + +  + +  + +  + +4,625,599 + +  + +Total liabilities and stockholders' equity + +  + +$ + +5,932,408 + +  + +  + +$ + +5,308,864 + +  + +Copart, Inc. + +Consolidated Statements of Cash Flows + +(In thousands) + +(Unaudited) + +  + +  + +Six Months Ended January 31, + +  + +  + +  + +2023 + +  + +  + +  + +2022 + +  + +Cash flows from operating activities: + +  + +  + +  + +  + +Net income + +  + +$ + +539,525 + +  + +  + +$ + +547,775 + +  + +Adjustments to reconcile net income to net cash provided by operating activities: + +  + +  + +  + +  + +Depreciation and amortization, including debt cost + +  + +  + +78,094 + +  + +  + +  + +65,627 + +  + +Allowance for credit loss + +  + +  + +2,133 + +  + +  + +  + +1,695 + +  + +Equity in losses of unconsolidated affiliates + +  + +  + +4,030 + +  + +  + +  + +685 + +  + +Stock-based compensation + +  + +  + +20,323 + +  + +  + +  + +19,114 + +  + +Gain on sale of property and equipment + +  + +  + +(748 + +) + +  + +  + +(755 + +) + +Deferred income taxes + +  + +  + +(3,309 + +) + +  + +  + +6,003 + +  + +Changes in operating assets and liabilities: + +  + +  + +  + +  + +Accounts receivable + +  + +  + +(186,559 + +) + +  + +  + +(152,763 + +) + +Vehicle pooling costs + +  + +  + +(21,268 + +) + +  + +  + +(29,623 + +) + +Inventories + +  + +  + +8,001 + +  + +  + +  + +(8,589 + +) + +Prepaid expenses, other current and non-current assets + +  + +  + +(29,176 + +) + +  + +  + +(19,889 + +) + +Operating lease right-of-use assets and lease liabilities + +  + +  + +414 + +  + +  + +  + +657 + +  + +Accounts payable, accrued liabilities and other liabilities + +  + +  + +27,619 + +  + +  + +  + +10,741 + +  + +Deferred revenue + +  + +  + +3,709 + +  + +  + +  + +(309 + +) + +Income taxes receivable + +  + +  + +49,430 + +  + +  + +  + +4,577 + +  + +Income taxes payable + +  + +  + +7,615 + +  + +  + +  + +1,655 + +  + +Other liabilities + +  + +  + +— + +  + +  + +  + +(53 + +) + +Net cash provided by operating activities + +  + +  + +499,833 + +  + +  + +  + +446,548 + +  + +  + +  + +  + +  + +  + +Cash flows from investing activities: + +  + +  + +  + +  + +Purchases of property and equipment + +  + +  + +(256,719 + +) + +  + +  + +(156,200 + +) + +Purchase of assets in connection with acquisitions + +  + +  + +— + +  + +  + +  + +(469 + +) + +Proceeds from sale of property and equipment + +  + +  + +16,343 + +  + +  + +  + +1,252 + +  + +Purchase of held to maturity securities + +  + +  + +— + +  + +  + +  + +(374,866 + +) + +Investment in unconsolidated affiliate + +  + +  + +(1,993 + +) + +  + +  + +— + +  + +Net cash used in investing activities + +  + +  + +(242,369 + +) + +  + +  + +(530,283 + +) + +  + +  + +  + +  + +  + +Cash flows from financing activities: + +  + +  + +  + +  + +Proceeds from the exercise of stock options + +  + +  + +10,815 + +  + +  + +  + +11,985 + +  + +Proceeds from the issuance of Employee Stock Purchase Plan shares + +  + +  + +5,363 + +  + +  + +  + +5,022 + +  + +Payments for employee stock-based tax withholdings + +  + +  + +(831 + +) + +  + +  + +(599 + +) + +Payments of finance lease obligations + +  + +  + +(13 + +) + +  + +  + +(314 + +) + +Net cash provided by financing activities + +  + +  + +15,334 + +  + +  + +  + +16,094 + +  + +Effect of foreign currency translation + +  + +  + +3,918 + +  + +  + +  + +(8,968 + +) + +Net increase (decrease) in cash, cash equivalents, and restricted cash + +  + +  + +276,716 + +  + +  + +  + +(76,609 + +) + +Cash, cash equivalents, and restricted cash at beginning of period + +  + +  + +1,384,236 + +  + +  + +  + +1,048,260 + +  + +Cash, cash equivalents, and restricted cash at end of period + +  + +$ + +1,660,952 + +  + +  + +$ + +971,651 + +  + +Supplemental disclosure of cash flow information: + +  + +  + +  + +  + +Interest paid + +  + +$ + +706 + +  + +  + +$ + +9,311 + +  + +Income taxes paid, net of refunds + +  + +$ + +98,324 + +  + +  + +$ + +128,972 + +  + +Copart, Inc. + +Additional Financial Information + +Reconciliation of GAAP to Non-GAAP Financial Measures + +(In thousands, except per share amounts) + +(Unaudited) + +  + +  + +Three Months Ended +January 31, + +  + +Six Months Ended +January 31, + +  + +  + +  + +2023 + +  + +  + +  + +2022 + +  + +  + +  + +2023 + +  + +  + +  + +2022 + +  + +GAAP net income + +  + +$ + +293,677 + +  + +  + +$ + +287,412 + +  + +  + +$ + +539,525 + +  + +  + +$ + +547,775 + +  + +Effect of certain discrete income tax items + +  + +  + +— + +  + +  + +  + +(17,490 + +) + +  + +  + +— + +  + +  + +  + +(17,490 + +) + +Effect of recognizing tax benefit on exercise of stock-based compensation + +  + +  + +(115 + +) + +  + +  + +(3,965 + +) + +  + +  + +(740 + +) + +  + +  + +(6,952 + +) + +Non-GAAP net income + +  + +$ + +293,562 + +  + +  + +$ + +265,957 + +  + +  + +$ + +538,785 + +  + +  + +$ + +523,333 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP net income per diluted common share + +  + +$ + +0.61 + +  + +  + +$ + +0.60 + +  + +  + +$ + +1.12 + +  + +  + +$ + +1.14 + +  + +Non-GAAP net income per diluted common share + +  + +$ + +0.61 + +  + +  + +$ + +0.55 + +  + +  + +$ + +1.12 + +  + +  + +$ + +1.08 + +  + +  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230220005276/en/ \ No newline at end of file diff --git a/news/CPRT/2023.02.20/Global markets live: Airbus, Tesla, Meta, Commerzbank....txt b/news/CPRT/2023.02.20/Global markets live: Airbus, Tesla, Meta, Commerzbank....txt new file mode 100644 index 0000000000000000000000000000000000000000..88e27b48e5167a33a83a61c3e24c830a0c21a910 --- /dev/null +++ b/news/CPRT/2023.02.20/Global markets live: Airbus, Tesla, Meta, Commerzbank....txt @@ -0,0 +1,19 @@ + +  +  + +Tesla is reportedly considering a bid for Sigma Lithium, according to Bloomberg. +Commerzbank will re-enter Germany's flagship Dax index, replacing gas company Linde, Frankfurt-based Deutsche Börse announced Friday evening. +Banco Santander is reportedly interested in Abrdn's private equity unit. +Novartis names Firmenich CEO chairman of Sandoz. +AP Moller Maersk says its investment division plans more than $750 million in infrastructure spending in South and Southeast Asia. +Tesco is reportedly hiring Goldman Sachs to prepare for the potential sale of Tesco Bank. +BioNTech hopes to bring an mRNA vaccine candidate to market to fight cancer before 2030. +Embraer 's (Eve Holding) electric aircraft is on track to enter service in 2026. +Meta Platforms (Facebook, Instagram) launches paid subscription to authenticate account. +3I Infrastructure cancels its planned acquisition of Digital 9 Infrastructure. +Moody's has downgraded Adidas ' long-term issuer rating from A2 to A3. +Airbus' defense branch claims that Berlin is delaying exports worth billions. In addition, the group believes that orders for Eurofighter jets are insufficient to increase production +KBC has taken a provision of €149m for damages and penalties paid by its Czech subsidiary. + +Today's main earnings reports: BHP, Williams Companies, Copart, Temenos, Icade, Faurecia, Almirall...All the agenda is here. diff --git a/news/CRWD/2023.01.11/CrowdStrike Named to Glassdoor's Best Places to Work in 2023 List.txt b/news/CRWD/2023.01.11/CrowdStrike Named to Glassdoor's Best Places to Work in 2023 List.txt new file mode 100644 index 0000000000000000000000000000000000000000..41a566186d982115e379405e8a1b9499bc8a78f5 --- /dev/null +++ b/news/CRWD/2023.01.11/CrowdStrike Named to Glassdoor's Best Places to Work in 2023 List.txt @@ -0,0 +1,28 @@ + +CrowdStrike (Nasdaq: CRWD), a leader in cloud-delivered protection of endpoints, cloud workloads, identity and data, today announced it has been honored with a Glassdoor Employees’ Choice Award, which recognizes the Best Places to Work in 2023. CrowdStrike landed the #15 spot, earning the highest ranking for a cybersecurity company, in its debut on the annual, coveted list. + +“While we’re proud of all recognition, cracking the top 20 on Glassdoor's prestigious list is especially significant as it’s based solely on feedback from CrowdStrikers across the globe. CrowdStrike’s team includes some of the best and brightest minds in the industry, all laser focused on one of the most critical missions of our time: protecting customers and stopping breaches,” said J.C. Herrera, chief human resources officer at CrowdStrike. “As our rallying cry goes, it’s One Team, One Fight at CrowdStrike, and that mission-focused culture continues to attract an increasingly diverse global workforce – one that thrives on the speed and innovation of a start-up while benefiting from the scale of a market leader.” + +The Best Places to Work awards rank companies based solely on the input of employees, who voluntarily provide anonymous feedback by completing a company review about their job, work environment and employer on Glassdoor. When sharing a company review on Glassdoor, employees are asked to rate their satisfaction with the company overall, and key workplace factors like career opportunities, compensation and benefits, culture and values, senior management, diversity and inclusion, and work/life balance. In addition, employees are asked to describe the best reasons to work at their companies as well as any downsides. The final list is compiled using Glassdoor’s proprietary algorithm, led by its Economic Research Team, and considers quantity, quality and consistency of reviews. + +“The past year brought extreme highs and lows for job seekers and employees, but despite an increasingly uncertain job market, Glassdoor data shows there are still companies hyper-focused on creating outstanding employee experiences,” said Christian Sutherland-Wong, Glassdoor chief executive officer. “It's encouraging to see companies doubling down on employee mental health and wellbeing, diversity and inclusion, competitive benefits and flexible work environments as we head into 2023. I sincerely congratulate all of the Best Places to Work winners.” + +CrowdStrike has received the following corporate accolades: + +For more on CrowdStrke’s industry recognition, please visit our website. + +About CrowdStrike +CrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with one of the world’s most advanced cloud-native platforms for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity and data. + +Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities. + +Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value. + +CrowdStrike: We stop breaches. + +Learn more: https://www.crowdstrike.com/ +Follow us: Blog | Twitter | LinkedIn | Facebook | Instagram +Start a free trial today: https://www.crowdstrike.com/free-trial-guide/ + +© 2023 CrowdStrike, Inc. All rights reserved. CrowdStrike, the falcon logo, CrowdStrike Falcon and CrowdStrike Threat Graph are marks owned by CrowdStrike, Inc. and registered with the United States Patent and Trademark Office, and in other countries. CrowdStrike owns other trademarks and service marks, and may use the brands of third parties to identify their products and services. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230111005739/en/ \ No newline at end of file diff --git a/news/CRWD/2023.01.17/CrowdStrike Adds Former SentinelOne Executives to the Leadership Team.txt b/news/CRWD/2023.01.17/CrowdStrike Adds Former SentinelOne Executives to the Leadership Team.txt new file mode 100644 index 0000000000000000000000000000000000000000..556bb2ba898d2e89ce3a79c4c75d3161de199a92 --- /dev/null +++ b/news/CRWD/2023.01.17/CrowdStrike Adds Former SentinelOne Executives to the Leadership Team.txt @@ -0,0 +1,43 @@ + +CrowdStrike (Nasdaq: CRWD) today announced that two key executives have joined its leadership team to continue driving momentum across the company’s channel and small business segments, and to scale what is widely recognized by the market as the industry’s most innovative modern security platform. Daniel Bernard has been appointed as chief business officer, and Raj Rajamani has been named chief product officer, DICE (Data, Identity, Cloud and Endpoint). Bernard will report directly to CrowdStrike founder and CEO, George Kurtz. Rajamani will report to CrowdStrike’s chief product & engineering officer, Amol Kulkarni. + +Bernard and Rajamani, who most recently served as the chief marketing officer and chief product officer at SentinelOne (NYSE: S), respectively, bring extensive experience with high-growth, disruptive cloud and SaaS businesses, as well as elite reputations in the cybersecurity industry. Both have been widely recognized as key architects of SentinelOne’s go-to-market and product strategy. + +Accelerating Momentum in the Channel and the Small and Medium Business (SMB) Segment + +Bernard will serve as CrowdStrike’s chief business officer, a new senior executive role responsible for driving revenue from the company’s global channel and accelerating momentum in CrowdStrike’s robust and growing partner ecosystem. + +Michael Rogers, CrowdStrike’s vice president of global alliances, will report directly to Bernard, with all channel, alliances and business development related revenue and functions rolling up under Bernard. + +Bernard will also lead CrowdStrike’s overall SMB go-to-market strategy and growth initiatives, including its ecommerce business, to accelerate revenue growth in the SMB segment and increase market share. + +Prior to CrowdStrike, Bernard led channel partnerships and business development at several high-growth SaaS, cloud and cybersecurity companies, including Dropbox and Cylance. Most recently, he served as SentinelOne’s chief marketing officer and is widely recognized for transforming the company’s brand and market awareness. + +Scaling the Industry’s Best Product + +Rajamani joins CrowdStrike as chief product officer, DICE (Data, Identity, Cloud, Endpoint), a new senior product leadership role that will be responsible for product strategy, management and delivery across CrowdStrike’s core platform offerings. Rajamani’s responsibilities include XDR, EDR, cloud security, identity threat protection and data protection offerings. + +Over his career, Rajamani has built a strong reputation for driving product innovation in disruptive cloud and endpoint security companies. He served in key product and technology leadership roles at McAfee, Marketo, Cylance and most recently SentinelOne, where he was chief product officer. + +“For the past few years, I’ve watched Daniel and Raj’s impact as key executives instrumental in the growth of SentinelOne. They were the driving force behind the product and go-to-market strategy that helped the company go public,” said George Kurtz, co-founder and CEO of CrowdStrike. “I’m looking forward to working with Daniel and Raj. Having their talent, leadership and drive here is a win for our customers, our partners, and shareholders, and provides a significant advantage as we look to bring the value of the CrowdStrike platform to new audiences.” + +“CrowdStrike is the unequivocal cybersecurity leader as evidenced by its marquee customer base, cutting-edge technology and customer satisfaction scores,” said Daniel Bernard, chief business officer at CrowdStrike. “Doubling down on the channel and bringing CrowdStrike into new markets will drive continued growth. George has assembled a stellar team that wins, and I’m excited to join CrowdStrike for its next growth chapter.” + +“Having worked both with and against George and team over the years, CrowdStrike has been a company I’ve long respected and admired. So when offered the opportunity to help shape the future of CrowdStrike’s product strategy and innovation – and to work with CrowdStrike’s amazing product team – it was simply too good to pass up,” said Raj Rajamani, chief product officer, DICE at CrowdStrike. “CrowdStrike set the bar for the XDR era, and I am incredibly excited to have the opportunity to keep raising it higher - and that’s exactly what we’re going to do.” + +About CrowdStrike + +CrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with the world’s most advanced cloud-native platform for protecting critical areas of enterprise risk — endpoints and cloud workloads, identity and data. + +Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities. + +Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value. + +CrowdStrike: We stop breaches. + +Learn more: https://www.crowdstrike.com/ +Follow us: Blog | Twitter | LinkedIn | Facebook | Instagram +Start a free trial today: https://www.crowdstrike.com/free-trial-guide/ + +© 2023 CrowdStrike, Inc. All rights reserved. CrowdStrike, the falcon logo, CrowdStrike Falcon and CrowdStrike Threat Graph are marks owned by CrowdStrike, Inc. and registered with the United States Patent and Trademark Office, and in other countries. CrowdStrike owns other trademarks and service marks, and may use the brands of third parties to identify their products and services. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005484/en/ \ No newline at end of file diff --git a/news/CRWD/2023.01.23/CrowdStrike Appoints Johanna Flower to Board of Directors.txt b/news/CRWD/2023.01.23/CrowdStrike Appoints Johanna Flower to Board of Directors.txt new file mode 100644 index 0000000000000000000000000000000000000000..b67e159c7291e85150bf2d05168dce999f87259a --- /dev/null +++ b/news/CRWD/2023.01.23/CrowdStrike Appoints Johanna Flower to Board of Directors.txt @@ -0,0 +1,29 @@ + +CrowdStrike Holdings, Inc. (Nasdaq: CRWD), a leader in cloud-delivered protection of endpoints, cloud workloads, identity and data, today announced the appointment of Johanna Flower to the company’s board of directors. + +A renowned cybersecurity, go-to-market and modern governance expert, Ms. Flower currently sits on the boards of cloud leaders like Freshworks (Nasdaq: FRSH) and ForgeRock (NYSE: FORG), as well as several high-growth private SaaS companies. She also has direct experience working closely with CrowdStrike’s leadership team and board, having served as the company’s first chief marketing officer and having played a key role in taking the company public in 2019. + +“Johanna’s reputation as a critical advisor and world-class executive speaks for itself. Her direct understanding of our team and passion for our business will certainly be advantageous, but it’s her experience helping guide other hyper-growth companies and their executive teams that will be invaluable to CrowdStrike and our board,” said George Kurtz, co-founder and CEO of CrowdStrike. “She’s already played a key role in CrowdStrike’s early success as a market disruptor turned market leader, and I believe her best contributions are yet to come.” + +“CrowdStrike continues to be the company to beat in cybersecurity and one of the fastest growing SaaS companies ever – a market leader that innovates and operates with the speed and attitude of a disruptor,” said Flower. “I welcome the opportunity to work with familiar and new faces alike on CrowdStrike’s board and management team as the company continues to redefine modern security and scales into a truly generational business.” + +Forward-Looking Statements + +This press release contains forward-looking statements that involve risks and uncertainties. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including risks and uncertainties that could affect the forward-looking statements in this press release, which are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth from time to time in our filings and reports with the Securities and Exchange Commission (“SEC”), including our Quarterly Report on Form 10-Q for the quarter ended October 31, 2022. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. + +About CrowdStrike + +CrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with the world’s most advanced cloud-native platform for protecting critical areas of enterprise risk — endpoints and cloud workloads, identity and data. + +Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities. + +Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value. + +CrowdStrike: We stop breaches. + +Learn more: https://www.crowdstrike.com/ +Follow us: Blog | Twitter | LinkedIn | Facebook | Instagram +Start a free trial today: https://www.crowdstrike.com/free-trial-guide/ + +© 2023 CrowdStrike, Inc. All rights reserved. CrowdStrike, the falcon logo, CrowdStrike Falcon and CrowdStrike Threat Graph are marks owned by CrowdStrike, Inc. and registered with the United States Patent and Trademark Office, and in other countries. CrowdStrike owns other trademarks and service marks, and may use the brands of third parties to identify their products and services. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005170/en/ \ No newline at end of file diff --git a/news/CRWD/2023.02.02/CrowdStrike Announces Date of Fourth Quarter and Fiscal Year 2023 Financial Results Con...txt b/news/CRWD/2023.02.02/CrowdStrike Announces Date of Fourth Quarter and Fiscal Year 2023 Financial Results Con...txt new file mode 100644 index 0000000000000000000000000000000000000000..1b3d007fee5d1d58f94158659399c97e8306b910 --- /dev/null +++ b/news/CRWD/2023.02.02/CrowdStrike Announces Date of Fourth Quarter and Fiscal Year 2023 Financial Results Con...txt @@ -0,0 +1,17 @@ + +CrowdStrike Holdings, Inc. (Nasdaq: CRWD), today announced that it will release financial results for its fourth quarter and fiscal year 2023 ended January 31, 2023, after the U.S. market close on Tuesday, March 7, 2023. CrowdStrike will host a conference call that day at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss the results. + +To access the conference call by phone, please pre-register using this link: https://register.vevent.com/register/BI2cb85248d35148df80cbcd11f30cd824. Registrants will receive confirmation with dial-in information and a personal PIN to access the call. + +A live webcast of the conference call and the financial results press release will be accessible from the CrowdStrike investor relations website at ir.crowdstrike.com. An audio webcast replay of the conference call will be available on the investor relations website for one year. + +About CrowdStrike Holdings + +CrowdStrike Holdings, Inc. is a global cybersecurity leader that provides cloud-delivered protection of endpoints, cloud workloads, identity and data. + +Powered by the CrowdStrike Security Cloud and advanced artificial intelligence, the CrowdStrike Falcon® platform delivers better outcomes to customers through rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value. + +CrowdStrike Falcon leverages a single lightweight-agent architecture with integrated cloud modules spanning multiple security markets, including corporate workload security, managed security services, security and vulnerability management, IT operations management, threat intelligence services, identity protection and log management. + +For more information, please visit: ir.crowdstrike.com +View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005120/en/ \ No newline at end of file diff --git a/news/CRWD/2023.02.08/CrowdStrike Promotes Michael Sentonas to President.txt b/news/CRWD/2023.02.08/CrowdStrike Promotes Michael Sentonas to President.txt new file mode 100644 index 0000000000000000000000000000000000000000..d05acd07e7d5584fb508520849eae872a3d214d7 --- /dev/null +++ b/news/CRWD/2023.02.08/CrowdStrike Promotes Michael Sentonas to President.txt @@ -0,0 +1,33 @@ + +CrowdStrike (Nasdaq: CRWD) today announced the promotion of Michael Sentonas to president. Sentonas, who has served as CrowdStrike’s chief technology officer (CTO) since 2020, will be responsible for leading the company’s product and go-to-market functions, including its sales, marketing, product and engineering, threat intelligence, corporate development and CTO teams. The appointment comes as CrowdStrike, the recognized market leader in endpoint security, drives growth at scale as customers consolidate point products, including XDR, cloud security, identity protection and more, on its industry-leading cybersecurity platform. + +Sentonas will report to CrowdStrike co-founder and CEO, George Kurtz, with CrowdStrike’s chief sales officer (Jim Seidel), chief marketing officer (Jennifer Johnson), chief product & engineering officer (Amol Kulkarni), and senior vice president of Intelligence (Adam Meyers) reporting directly into Sentonas. + +“Mike has proven himself as a one-of-a-kind leader maniacally focused on execution. No one in cybersecurity is more adept at aligning customer needs with technology and go-to-market excellence than Mike. His technical acumen, market mastery, and passion for winning have made him highly sought by customers, employees, partners, analysts, and investors alike,” said Kurtz. “Mike is a tremendous partner and will continue helping me drive the company to our next level of growth. His unique skill set and leadership will allow me to engage even more with our customers and partners as we continue scaling CrowdStrike into a once-in-a-generation cybersecurity company.” + +Sentonas joined CrowdStrike in 2016 as vice president of Technology Strategy, and was promoted to CTO in 2020. Prior to CrowdStrike, Sentonas held multiple leadership roles at McAfee that spanned sales, go-to-market, and technology responsibilities. He served as the company’s chief technology officer – Security Connected, and chief technology and strategy officer Asia Pacific (APAC). Sentonas was also part of McAfee’s Advanced Technology Group, a specialist sales team where he drove customer transactions, go-to-market strategy, and previously oversaw sales engineering and services for the APAC region. + +“CrowdStrike became one of the fastest growing cloud companies ever by rewriting the playbook on how organizations stop breaches and protect themselves against sophisticated and relentless adversaries. The combination of a single lightweight agent, cloud native platform, unparalleled threat intelligence and elite human expertise that helped us dominate the modern endpoint security market and become the gold standard in cybersecurity now has us poised to become an increasingly foundational element of our customers’ digital estate,” said Sentonas. “It’s a rare opportunity to work with a founder and CEO of George’s caliber. I’m grateful for the confidence and faith that he has placed in me to help drive our next phase of growth.” + +Forward-Looking Statements + +This press release contains forward-looking statements that involve risks and uncertainties. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including risks and uncertainties that could affect the forward-looking statements in this press release, which are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth from time to time in our filings and reports with the Securities and Exchange Commission (“SEC”), including our Quarterly Report on Form 10-Q for the quarter ended October 31, 2022. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. + +About CrowdStrike + +CrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with the world’s most advanced cloud-native platform for protecting critical areas of enterprise risk — endpoints and cloud workloads, identity and data. + +Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities. + +Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value. + +CrowdStrike: We stop breaches. + +Learn more: https://www.crowdstrike.com/ + +Follow us: Blog | Twitter | LinkedIn | Facebook | Instagram + +Start a free trial today: https://www.crowdstrike.com/free-trial-guide/ + +© 2023 CrowdStrike, Inc. All rights reserved. CrowdStrike, the falcon logo, CrowdStrike Falcon and CrowdStrike Threat Graph are marks owned by CrowdStrike, Inc. and registered with the United States Patent and Trademark Office, and in other countries. CrowdStrike owns other trademarks and service marks, and may use the brands of third parties to identify their products and services. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230208005405/en/ \ No newline at end of file diff --git a/news/CRWD/2023.02.12/CrowdStrike Takes On History's Most Infamous Breach in First Big Game Commercial.txt b/news/CRWD/2023.02.12/CrowdStrike Takes On History's Most Infamous Breach in First Big Game Commercial.txt new file mode 100644 index 0000000000000000000000000000000000000000..fef31bee315f665c647c4af7c8811aeafe426ed4 --- /dev/null +++ b/news/CRWD/2023.02.12/CrowdStrike Takes On History's Most Infamous Breach in First Big Game Commercial.txt @@ -0,0 +1,29 @@ + +CrowdStrike (NASDAQ: CRWD) today debuted a new commercial, the cybersecurity leader’s first ad during the Big Game. Leveraging the powerful reach of one of the world’s largest stages, the company is bringing its Protection That Powers You campaign to over 100 million viewers at a time when the threat and impacts of cyberattacks are more pervasive than ever. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230210005324/en/ +“Our commercial during the Big Game puts a modern lens on the story of the Trojan Horse, the most infamous breach in history that should have been stopped,” said CrowdStrike chief marketing officer, Jennifer Johnson. “Centuries later, our mission at CrowdStrike remains the same: to stop breaches. Behind every cyberattack is a human adversary, and we pioneered the adversary-focused approach to cybersecurity to protect every organization on the planet against the most sophisticated attacks. Cybersecurity is a must-have investment for every organization and CrowdStrike stops breaches so our customers can power their businesses forward. The Big Game is an iconic stage and the perfect platform to share our brand promise of delivering Protection that Powers You to the world.” + +Headquartered in the U.S. with operations across the globe, CrowdStrike is one of the fastest growing and most innovative security companies in the world with more than $2.3 billion in annual recurring revenue (ARR), as of October 2022, and over 20,000 customers ranging from small businesses to leading global brands and government entities. The company’s market-defining CrowdStrike Falcon® platform, elite incident response and services, and renowned cyber threat intelligence team have made CrowdStrike one of the most trusted brands in cybersecurity. Over half of the Fortune 500, more than 25% of the Global 2000 and two-thirds of the Fortune 100 rely on CrowdStrike to protect them against a growing and increasingly sophisticated set of eCrime, nation-state and hacktivist adversaries. + +The 30 second commercial, produced in-house by CrowdStrike in collaboration with leading players Framestore, RadicalMedia, and Union, aired before the halftime show. + +About CrowdStrike + +CrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with one of the world’s most advanced cloud-native platforms for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity and data. + +Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities. + +Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value. + +CrowdStrike: We stop breaches. + +Learn more: https://www.crowdstrike.com/ +Follow us: Blog | Twitter | LinkedIn | Facebook | Instagram +Start a free trial today: https://www.crowdstrike.com/free-trial-guide/ + +© 2023 CrowdStrike, Inc. All rights reserved. CrowdStrike, the falcon logo, CrowdStrike Falcon and CrowdStrike Threat Graph are marks owned by CrowdStrike, Inc. and registered with the United States Patent and Trademark Office, and in other countries. CrowdStrike owns other trademarks and service marks, and may use the brands of third parties to identify their products and services. + +Annual Recurring Revenue + +ARR is calculated as the annualized value of CrowdStrike’s customer subscription contracts as of the measurement date, assuming any contract that expires during the next 12 months is renewed on its existing terms. To the extent that CrowdStrike is negotiating a renewal with a customer after the expiration of the subscription, CrowdStrike continues to include that revenue in ARR if CrowdStrike is actively in discussion with such an organization for a new subscription or renewal, or until such organization notifies CrowdStrike that it is not renewing its subscription. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230210005324/en/ \ No newline at end of file diff --git a/news/CRWD/2023.02.16/CrowdStrike Ranked #1 in Worldwide Modern Endpoint Security Market Shares for Third Con...txt b/news/CRWD/2023.02.16/CrowdStrike Ranked #1 in Worldwide Modern Endpoint Security Market Shares for Third Con...txt new file mode 100644 index 0000000000000000000000000000000000000000..aef74759d4cbe76cfbf7cf001f1c70279f7ab0a3 --- /dev/null +++ b/news/CRWD/2023.02.16/CrowdStrike Ranked #1 in Worldwide Modern Endpoint Security Market Shares for Third Con...txt @@ -0,0 +1,35 @@ + +CrowdStrike (Nasdaq: CRWD), a leader in cloud-delivered protection of endpoints, cloud workloads, identity and data, today announced it ranked #1 in IDC’s Worldwide Modern Endpoint Security Market Shares, July 2021-June 2022 report. According to IDC, CrowdStrike produced the largest increases in endpoint revenue and market shares – out of 26 vendors in the report. This is the third consecutive time that IDC has ranked CrowdStrike #1 in worldwide modern endpoint security market shares. + +IDC’s definition of the worldwide modern endpoint security market includes Endpoint Detection and Response (EDR), Endpoint Protection Platform (EPP), capabilities to strengthen the secure posture of end-user devices and vendor-provided Managed Detection and Response (MDR). IDC states that the “correlated factors of a widening attack surface and the pain threat actors can cause are at the foundation of accelerating market demand. Security buyers, in turn, are spending more on endpoint security and related technologies and vendor-provided managed services.” + +"In addition to the heightened emphasis on vendor-provided MDR offerings, modern endpoint security vendors are also engaged in the preliminary stages of the battle for XDR supremacy. In 2023 and beyond, IDC anticipates vendors will shift from promoting their XDR readiness to demonstrating tangible proof of XDR's multifaceted value. Included in this value demonstration is the following: sharpening organizations' understanding of cyber-risk and the pathways to structurally reduce that risk, improving performance metrics (e.g., mean time to detect, investigate, and respond), and curbing the impact of cybersecurity's technology sprawl on organizations' overall security expenditures and collective complexity," according to Michael Suby, research vice president, Security and Trust at IDC. + +“The recognition from IDC reinforces CrowdStrike as the market leader in endpoint security, outpacing 26 vendors in the report that range from pure-play security vendors to software vendors like Microsoft,” said Michael Sentonas, president at CrowdStrike. “More than 21,000 customers rely on CrowdStrike for our industry-leading solutions. Customers are leveraging the CrowdStrike Falcon platform to consolidate their security stack and save on operational costs. They want to easily and cost-effectively protect the broader attack surface including the endpoint, cloud, identity and more. As such, we believe we are best-positioned to meet the needs of security platform consolidation for customers with our single, lightweight agent, cloud-native architecture, integrated threat intelligence and elite human expertise.” + +In addition to the #1 ranking in IDC’s worldwide modern endpoint security market shares report, CrowdStrike was also named a winner for the 2023 SE Labs Award in two categories: Best EDR and Best Product Development. This is the third consecutive time that CrowdStrike has won in the Best EDR category, further reinforcing its innovation in endpoint security. + +“After months of in-depth testing, CrowdStrike has been selected for Best EDR and Best Product Development in one of the industry’s most challenging security tests,” said Simon Edwards, CEO at SE Labs. “We’ve based our conclusions on a combination of continual public testing, private assessments and feedback from customers who use SE Labs to help choose security products and services. CrowdStrike Falcon Insight XDR is highly-regarded by security teams and product users and stands out in the industry as a must-have tool.” + +CrowdStrike previously won the SE Labs Award for Best New Endpoint in 2019, and Best EDR in 2020 and 2021. + +Additional Resources + +About CrowdStrike + +CrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with one of the world’s most advanced cloud-native platforms for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity and data. + +Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities. + +Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value. + +CrowdStrike: We stop breaches. + +Learn more: https://www.crowdstrike.com/ + +Follow us: Blog | Twitter | LinkedIn | Facebook | Instagram + +Start a free trial today: https://www.crowdstrike.com/free-trial-guide/ + +© 2023 CrowdStrike, Inc. All rights reserved. CrowdStrike, the falcon logo, CrowdStrike Falcon and CrowdStrike Threat Graph are marks owned by CrowdStrike, Inc. and registered with the United States Patent and Trademark Office, and in other countries. CrowdStrike owns other trademarks and service marks, and may use the brands of third parties to identify their products and services. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005402/en/ \ No newline at end of file diff --git a/news/CRWD/2023.02.21/Palo Alto Networks boosts profit view on resilient cybersecurity demand.txt b/news/CRWD/2023.02.21/Palo Alto Networks boosts profit view on resilient cybersecurity demand.txt new file mode 100644 index 0000000000000000000000000000000000000000..174ff8f9d9a6d981f07311cb33cf5d554d199aca --- /dev/null +++ b/news/CRWD/2023.02.21/Palo Alto Networks boosts profit view on resilient cybersecurity demand.txt @@ -0,0 +1,27 @@ +Feb 21 (Reuters) - Cybersecurity company Palo Alto +Networks Inc raised its annual profit forecast on +Tuesday and said it will control costs by limiting headcount, +after rounding off a quarter that showed demand had stayed +strong in the face of a turbulent economy.Shares of the company rose more than 7% in extended trading +and lifted rival Crowdstrike Holdings Inc.The earnings burnished the view that cybersecurity spending +is essential for businesses and governments expanding their +digital presence, even as rising interest rates and high +inflation weigh on technology budgets."We've always maintained that we expect cybersecurity to be +resilient, and we continue to see evidence of that," Chief +Executive Officer Nikesh Arora said on a post-earnings call.Still, the company has sharpened its focus on efficiencies +amid the weakening economy and its headcount growth in 2023 is +expected to be lower than any of the past three years, Arora +said, adding that Palo Alto Networks was working to manage its +stock-based compensation to bring it down as percent of its +revenue.Adjusted net income for the full year is now expected to be +between $3.97 and $4.03 per share, compared with its previous +forecast of $3.37 to $3.44 a share."In an environment where investors have become more +profitability-focused, PANW's guidance ... is icing on the +cake," said Janice Quek, an analyst at CFRA Research.Its revenue grew 26% to $1.7 billion in the second quarter +ended Jan. 31, beating analysts' expectation of $1.65 billion, +according to Refinitiv data.Excluding items, the company earned a net income per share +of $1.05, higher than analysts' expectations of $0.78.Palo Alto Networks also reported its third straight +quarterly profit on a GAAP basis and said it expects to be GAAP +profitable for the fiscal year 2023."We believe we now meet the criteria for inclusion in the +S&P 500", said finance chief Dipak Golechha.(Reporting by Vansh Agarwal in Bengaluru; Editing by Shinjini +Ganguli and Uttaresh.V) \ No newline at end of file diff --git a/news/CRWD/2023.02.22/Futures stable after Wall St rout on rate worries.txt b/news/CRWD/2023.02.22/Futures stable after Wall St rout on rate worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..280c78d6512560a95ec364ed0ed4a0026c462135 --- /dev/null +++ b/news/CRWD/2023.02.22/Futures stable after Wall St rout on rate worries.txt @@ -0,0 +1 @@ +The main indexes shed more than 2% on Tuesday as investors interpreted a rebound in U.S. business activity in February to mean interest rates will need to stay higher for longer to control inflation.Minutes from the Fed's Jan.31-Feb.1 meeting, expected at 2:00 p.m. ET (1900 GMT), is anticipated to detail the breadth of debate at the central bank over how much further interest rates may need to be raised to slow inflation.Following a market rout in 2022, the three major indexes logged monthly gains in January as investors hoped the Fed would pause its rate hikes and perhaps turn a corner in its monetary policy tightening around the year-end. However, stocks have had a volatile run in February as traders priced in higher interest rates for longer, considering inflation still remains above the 2% target in the face of a sturdy economy.Money market participants expect rates to peak at 5.35% by July and stay around those levels till the end of 2023.At 07:13 a.m. ET, Dow e-minis were up 26 points, or 0.08%, S&P 500 e-minis were up 2.5 points, or 0.06%, and Nasdaq 100 e-minis were up 12 points, or 0.1%.Among single stocks, Palo Alto Networks Inc rose 9.3% in premarket trading after the cybersecurity company raised its annual profit forecast. Rival Crowdstrike Holdings Inc gained 2%.U.S.-listed shares of Baidu Inc advanced 6.6% after China's e-commerce beat fourth-quarter revenue estimates and announced a new share repurchase program. CoStar Group dropped 15.2% as the online real estate marketplace provider said it was no longer in talks to buy Realtor.com owner Move Inc from News Corp and forecast disappointing first-quarter revenue.St. Louis Fed President James Bullard said rates will have to go north of 5% to tame inflation. New York Fed President John Williams, a voting member of the rate-setting committee this year, is scheduled to speak later in the day. (Reporting by Johann M Cherian and Medha Singh in Bengaluru; Editing by Arun Koyyur) \ No newline at end of file diff --git a/news/CRWD/2023.02.22/Wall St slightly higher as investors focus on Fed minutes.txt b/news/CRWD/2023.02.22/Wall St slightly higher as investors focus on Fed minutes.txt new file mode 100644 index 0000000000000000000000000000000000000000..34c1f01202e8c26515201c59670e0040d35b4865 --- /dev/null +++ b/news/CRWD/2023.02.22/Wall St slightly higher as investors focus on Fed minutes.txt @@ -0,0 +1,43 @@ +*Fed minutes due at 2:00 p.m. ET*Palo Alto Networks rises on upbeat forecast*CoStar slumps as talks to buy Move from News Corp stalled*Indexes up: Dow 0.26%, S&P 0.22%, Nasdaq 0.28%Feb 22 (Reuters) - Wall Street's main indexes edged +higher in choppy trading on Wednesday, a day after their worst +performance of the year, as investors awaited minutes from the +Federal Reserve's policy meeting for fresh clues on the +trajectory of interest rates.U.S. stocks shed more than 2% on Tuesday after a rebound in +business activity in February stoked fears of interest rates +staying higher for longer.Minutes from the Fed's Jan. 31-Feb. 1 meeting, due at 2:00 +p.m. ET, are expected to detail the breadth of debate at the +central bank about the rate hike path."Few members of the Fed have talked publicly about the +case for a 50 bp hike and investors would want to gauge how +serious that discussion is within the central bank," said Matt +Stucky, senior portfolio manager at Northwestern Mutual Wealth +Management Co.St. Louis Fed President James Bullard, who advocated for +a half-point increase at the Fed's last session, said the U.S. +central bank needs to get inflation toward its 2% goal this year +to avoid its prolonged impact.New York Fed President John Williams, a voting member of the +rate-setting committee this year, is scheduled to speak later in +the day.Following a market rout in 2022, the three major indexes +logged monthly gains in January as investors hoped the Fed would +pause its rate hikes and perhaps pivot around year-end.However, stocks have had a volatile run in February, leaving +the Dow flat for the year as traders priced in higher interest +rates for longer, assuming that inflation remains higher in a +sturdy economy.Money market participants expect rates to peak at 5.35% by +July and stay around those levels till the end of 2023.At 12:29 a.m. ET, the Dow Jones Industrial Average +was up 87.29 points, or 0.26%, at 33,216.88, the S&P 500 +was up 8.86 points, or 0.22%, at 4,006.20, and the Nasdaq +Composite was up 31.84 points, or 0.28%, at 11,524.14.Nine of the 11 major S&P 500 sectors gained, with consumer +discretionary stocks climbing 0.9%.Analysts polled by Reuters expect the S&P 500 index to +advance 5% by year-end, but high-interest rates and inflation +have led many strategists to predict a correction within the +next three months.Growth names like Tesla Inc, Nvidia Corp, +Qualcomm Inc and Amazon.com Inc edged higher +as the yield on 10-year U.S. Treasury notes slid from +multi-month highs.Palo Alto Networks Inc rose 11.6% after the +cybersecurity company raised its annual profit forecast.CoStar Group dropped 4.0% as the online real estate +marketplace provider said it was no longer in talks to buy +Realtor.com-owner Move Inc from News Corp and forecast +disappointing first-quarter revenue.Advancing issues outnumbered decliners by a 1.69-to-1 +ratio on the NYSE. Advancing issues outnumbered decliners by a +1.27-to-1 ratio on the Nasdaq.The S&P index recorded three new 52-week highs and one new +lows, while the Nasdaq recorded 21 new highs and 92 new low. +(Reporting by Johann M Cherian and Medha Singh in Bengaluru; +Editing by Arun Koyyur and Anil D'Silva) \ No newline at end of file diff --git a/news/CRWD/2023.02.23/Global stocks fall, crude rebounds as markets brace for higher rates.txt b/news/CRWD/2023.02.23/Global stocks fall, crude rebounds as markets brace for higher rates.txt new file mode 100644 index 0000000000000000000000000000000000000000..0a72abb8619500c18b45d8ee419de94e58c14f48 --- /dev/null +++ b/news/CRWD/2023.02.23/Global stocks fall, crude rebounds as markets brace for higher rates.txt @@ -0,0 +1,33 @@ +*Wall Street stocks trade lower*Crude oil rebounds after lossesNEW YORK, Feb 23 (Reuters) - Global equities were lower +while crude oil edged up as traders braced for higher interest +rates after economic data that continues to show the strength of +the U.S. economy and validates the Federal Reserve's tight +monetary policy stance.A U.S. Labor Department report on Thursday showed that +new claims for unemployment benefits unexpectedly fell last +week, pointing to a persistently tight labor market.The readings for the fourth-quarter personal consumption +expenditures (PCE) price index, the Fed's preferred inflation +measure, was revised upward to 3.7%, indicating that inflation +was much stronger than initially thought and helping to drive +bearish sentiments among traders.Minutes of the Federal Reserve's last meeting released +on Wednesday had showed that officials favored a moderation in +the pace of rate hikes although they indicated that containing +high inflation would be the "key factor" in how much further +rates need to rise. +"The Fed minutes yesterday were a bit hawkish and they said +ongoing rate hikes would be necessary and that should obviously +be negative for the market," said Sandy Villere, portfolio +manager at Villere & Co in New Orleans.The MSCI world equity index, which tracks +shares in 50 countries, was down 0.42%. European stocks +were up at just 0.06%.On Wall Street, the Nasdaq erased earlier gains from +better-than-expected revenue at chipmaker Nvidia Corp. +The results drove the company's shares up 13%, as well as shares +of other semiconductor manufacturers.The Dow Jones Industrial Average fell 0.68% to +32,821.76, the S&P 500 lost 0.46% to 3,972.81 and the +Nasdaq Composite dropped 0.53% to 11,445.78."The market is becoming a stock-pickers market where if +companies are putting out good numbers, they're being rewarded +even now that interest rates are going higher," Villere added.Oil prices firmed more than 1% before paring some gains, +with Russian supply curbs partially offsetting an expected rise +in U.S. inventories.Brent crude futures rose 1.53%, to $82.83 a +barrel, while West Texas Intermediate crude futures (WTI) +advanced 1.49% to $75.05 after six sessions of losses.(Additional reporting by Dhara Ranasinghe, editing by Shounak +Dasgupta, Susan Fenton and Anna Driver) \ No newline at end of file diff --git a/news/CRWD/2023.02.23/Stocks fall, crude rebounds as higher rates expected.txt b/news/CRWD/2023.02.23/Stocks fall, crude rebounds as higher rates expected.txt new file mode 100644 index 0000000000000000000000000000000000000000..e7e6cb908393a534a8cc73a45151f52cad3391e9 --- /dev/null +++ b/news/CRWD/2023.02.23/Stocks fall, crude rebounds as higher rates expected.txt @@ -0,0 +1,50 @@ +*Wall Street stocks trade lower*Crude oil rebounds after losses*Benchmark 10-year yields drop*U.S. dollar gains*Safe-have gold dropsNEW YORK, Feb 23 (Reuters) - Global equities were lower +while crude oil edged up as traders braced for higher interest +rates amid economic data that continued to show the strength of +the U.S. economy and which validated the Federal Reserve's tight +monetary policy stance.A U.S. Labor Department report on Thursday showed that +new claims for unemployment benefits unexpectedly fell last +week, pointing to a persistently tight labor market.The readings for the fourth-quarter personal consumption +expenditures (PCE) price index, the Fed's preferred inflation +measure, was revised upward to 3.7%, indicating inflation was +much stronger than initially thought and helping to stoke +bearish sentiment among traders.Minutes of the Federal Reserve's last meeting released +on Wednesday showed that officials favored a moderation in the +pace of rate hikes although they indicated that containing high +inflation would be key in how much further rates need to rise. +"The Fed minutes yesterday were a bit hawkish and they said +ongoing rate hikes would be necessary and that should obviously +be negative for the market," said Sandy Villere, portfolio +manager at Villere & Co in New Orleans.The MSCI world equity index, which tracks +shares in 50 countries, was down 0.29%. European stocks +were up at just 0.06%. +On Wall Street, the Nasdaq erased earlier gains on +better-than-expected revenue at chipmaker Nvidia Corp. +The results drove the company's shares up 13%, along with shares +of other semiconductor manufacturers. +The Dow Jones Industrial Average fell 0.55% to +32,864.83, the benchmark S&P 500 lost 0.28% to 3,979.94 +and the Nasdaq Composite dropped 0.3% to 11,473.04."The market is becoming a stock-pickers market where if +companies are putting out good numbers, they're being rewarded +even now that interest rates are going higher," Villere added.Oil prices firmed more than 1% before paring some gains, +with Russian supply curbs partially offsetting an expected rise +in U.S. inventories. +Brent crude futures rose 2.36%, to $82.50 a barrel, +while West Texas Intermediate crude futures (WTI) +advanced 2.35% to $75.69 after six sessions of losses. +U.S. Treasury yields edged lower in choppy trading, with +those on the 10-year pulling back from three-month highs, as +investors have priced in strong economic data. +Benchmark 10-year Treasury notes were down at +3.904%, while the yield curve measuring the gap between the two- +and 10-year Treasury notes was still inverted at +minus 77.90 basis points, indicating a looming recession. +The dollar retained its strength against its major peers. The +dollar index rose 0.201%, with the euro down 0.19% +at $1.0581. +Safe-haven gold prices slipped to their lowest in about two +months as the U.S. dollar climbed. Spot gold dropped 0.2% +to $1,820.95 an ounce, while U.S. gold futures fell 0.45% +to $1,823.70 an ounce. +(Reporting by Chibuike Oguh in New York, editing by Anna Driver +and Bernadette Baum) \ No newline at end of file diff --git a/news/CRWD/2023.02.23/Stocks, crude oil advances despite higher interest rate expectations.txt b/news/CRWD/2023.02.23/Stocks, crude oil advances despite higher interest rate expectations.txt new file mode 100644 index 0000000000000000000000000000000000000000..8f420365bf97a3ff7c2aadd97b779c623196fef1 --- /dev/null +++ b/news/CRWD/2023.02.23/Stocks, crude oil advances despite higher interest rate expectations.txt @@ -0,0 +1,57 @@ +*Wall Street stocks rebound*Crude oil gains 2%*Benchmark 10-year yields drop*U.S. dollar gains*Safe-have gold dropsNEW YORK, Feb 23 (Reuters) -Global equities and crude oil rebounded from earlier losses +on Thursday even as economic data continued to show the strength +of the U.S. economy and validated the Federal Reserve's tight +monetary policy stance.A U.S. Labor Department report on Thursday showed that +new claims for unemployment benefits unexpectedly fell last +week, pointing to a persistently tight labor market.The readings for the fourth-quarter personal consumption +expenditures (PCE) price index, the Fed's preferred inflation +measure, were revised upward to 3.7%, indicating inflation was +much stronger than initially thought and initially weighed on +sentiment.Minutes of the Federal Reserve's last meeting released +on Wednesday showed that officials favored a moderation in the +pace of rate hikes although they indicated that containing high +inflation would be key in how much further rates need to rise. +"The Fed minutes yesterday were a bit hawkish and they said +ongoing rate hikes would be necessary and that should obviously +be negative for the market," said Sandy Villere, portfolio +manager at Villere & Co in New Orleans. +"But it seems the market is starting to discount that we're +getting into the eighth or ninth innings of these rate hikes +even though the Fed is saying ongoing rate hikes would be +necessary," Villere said. +The MSCI world equity index, which tracks +shares in 50 countries, was down 0.30%. European stocks +were up at just 0.06%. +On Wall Street, the Nasdaq regained earlier losses from +better-than-expected revenue at chipmaker Nvidia Corp. +The results drove the company's shares up 13%, along with shares +of other semiconductor manufacturers. +The Dow Jones Industrial Average rose 0.32% to +33,150.24, the S&P 500 gained 0.60% to 4,014.8 and the +Nasdaq Composite added 0.77% to 11,595.72. +"When you see strong numbers at certain companies, it could +be market moving and that's what we're seeing today - a bit of a +relief rally," Villere added.Oil prices firmed more than 1% before paring some gains, +with Russian supply curbs partially offsetting an expected rise +in U.S. inventories. +Brent crude futures settled up 2% to $82.21 a barrel, +while West Texas Intermediate crude futures (WTI) +advanced 2% to $75.39 after six sessions of losses. +Brent crude futures settled up $1.61, or 2%, to +$82.21 a barrel, compared with about $98 a barrel on the eve of +Russia's invasion of Ukraine a year ago. +U.S. Treasury yields edged lower in choppy trading, with +those on the 10-year pulling back from three-month highs, as +investors have priced in strong economic data. +Benchmark 10-year Treasury notes were down at +3.8807%, while the yield curve measuring the gap between the +two- and 10-year Treasury notes was still inverted +at minus 77.90 basis points, indicating a looming recession. +The dollar retained its strength against its major peers. The +dollar index rose 0.067%, with the euro down 0.05% +to $1.0596. +Safe-haven gold prices slipped to their lowest in about two +months as the U.S. dollar climbed. Spot gold dropped 0.1% +to $1,823.56 an ounce, while U.S. gold futures fell 0.45% +to $1,818.00 an ounce.(Reporting by Chibuike Oguh in New York, editing by Anna Driver +and Bernadette Baum) \ No newline at end of file diff --git a/news/CRWD/2023.03.01/2023 CrowdStrike Global Threat Report Reveals Sophisticated Adversaries Re-exploiting a...txt b/news/CRWD/2023.03.01/2023 CrowdStrike Global Threat Report Reveals Sophisticated Adversaries Re-exploiting a...txt new file mode 100644 index 0000000000000000000000000000000000000000..8bb29bee4414c7ecd524a8f1ab232812f7905c08 --- /dev/null +++ b/news/CRWD/2023.03.01/2023 CrowdStrike Global Threat Report Reveals Sophisticated Adversaries Re-exploiting a...txt @@ -0,0 +1,31 @@ + +CrowdStrike (Nasdaq: CRWD), today announced the release of 2023 CrowdStrike Global Threat Report – the ninth annual edition of the cybersecurity leader’s seminal report on the evolving behaviors, trends and tactics of today’s most feared nation-state, eCrime and hacktivist threat actors around the world. Now tracking the activities of 200+ adversaries – including 33 new adversaries identified in the past year alone – the report found a surge in identity-based threats, cloud exploitations, China-nexus espionage and attacks that re-weaponized previously patched vulnerabilities. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230228005546/en/CrowdStrike Adversary Naming Conventions (Graphic: Business Wire) +The annual report is created by the world-renowned CrowdStrike Intelligence team, leveraging data from trillions of daily events from the CrowdStrike Falcon platform and insights from CrowdStrike Falcon OverWatch. Key highlights from this year’s report include: + +“The past 12 months brought a unique combination of threats to the forefront of security. Splintered eCrime groups re-emerged with greater sophistication, relentless threat actors sidestepped patched or mitigated vulnerabilities, and the feared threats of the Russia-Ukraine conflict masked more sinister and successful traction by a growing number of China-nexus adversaries,” said Adam Meyers, head of intelligence at CrowdStrike. “Today’s threat actors are smarter, more sophisticated, and more well resourced than they have ever been in the history of cybersecurity. Only by understanding their rapidly evolving tradecraft, techniques and objectives – and by embracing technology fueled by the latest threat intelligence – can companies remain one step ahead of today’s increasingly relentless adversaries.” + +A closer look at some of the new adversaries: + +CrowdStrike Intelligence added 33 newly tracked adversaries bringing the total number of known adversaries tracked to more than 200. More than 20 of the new additions were SPIDERS, the CrowdStrike naming convention for eCrime adversaries. Among the newly tracked BEARs (Russia-nexus adversaries), GOSSAMER BEAR’s credential-phishing operations were highly active throughout the first year of the Russia-Ukraine conflict, targeting government research labs, military suppliers, logistics companies and non-governmental organizations (NGO). CrowdStrike also introduced its first Syria-nexus adversary, DEADEYE HAWK, which was formerly tracked as the hacktivist DEADEYE JACKAL. + +The CrowdStrike Intelligence team benefits from an unparalleled raw collection of intelligence data, leveraging trillions of security events per day to help stop the most ubiquitous of threats and power the CrowdStrike Falcon® platform. As the platform of consolidation in security, Falcon enables organizations to proactively stop the most sophisticated of threats via its unique combination of endpoint and identity threat protection technology, adversary-driven intelligence and human-led analysis. + +Additional Resources + +About CrowdStrike + +CrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with one of the world’s most advanced cloud-native platforms for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity and data. + +Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities. + +Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value. + +CrowdStrike: We stop breaches. + +Learn more: https://www.crowdstrike.com/ +Follow us: Blog | Twitter | LinkedIn | Facebook | Instagram +Start a free trial today: https://www.crowdstrike.com/free-trial-guide/ + +© 2023 CrowdStrike, Inc. All rights reserved. CrowdStrike, the falcon logo, CrowdStrike Falcon and CrowdStrike Threat Graph are marks owned by CrowdStrike, Inc. and registered with the United States Patent and Trademark Office, and in other countries. CrowdStrike owns other trademarks and service marks, and may use the brands of third parties to identify their products and services. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005546/en/ \ No newline at end of file diff --git a/news/CRWD/2023.03.01/CrowdStrike to Participate in Upcoming Investor Conference.txt b/news/CRWD/2023.03.01/CrowdStrike to Participate in Upcoming Investor Conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..7fbac0e9f05d172dae8eba85821af66b67e567d3 --- /dev/null +++ b/news/CRWD/2023.03.01/CrowdStrike to Participate in Upcoming Investor Conference.txt @@ -0,0 +1,20 @@ + +CrowdStrike Holdings, Inc. (Nasdaq: CRWD) today announced that George Kurtz, chief executive officer, and Burt Podbere, chief financial officer, are scheduled to present at the following investor conference: + +Morgan Stanley Technology, Media & Telecom Conference +Location: San Francisco +Thursday, March 9, 2023 +Presentation Time: 9:10 a.m. PST + +The presentation will be webcast live and archived on CrowdStrike’s investor relations website at ir.crowdstrike.com. + +About CrowdStrike Holdings + +CrowdStrike Holdings, Inc. is a global cybersecurity leader that provides cloud-delivered protection of endpoints, cloud workloads, identity and data. + +Powered by the CrowdStrike Security Cloud and advanced artificial intelligence, the CrowdStrike Falcon® platform delivers better outcomes to customers through rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value. + +CrowdStrike Falcon leverages a single lightweight-agent architecture with integrated cloud modules spanning multiple security markets, including corporate workload security, managed security services, security and vulnerability management, IT operations management, threat intelligence services, identity protection and log management. + +For more information, please visit: ir.crowdstrike.com +View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005736/en/ \ No newline at end of file diff --git a/news/CSCO/2023.01.03/Safe-T Group Ltd. Gets Bigger By Expanding Revenue-Generating Reach Of Wholly Owned Net...txt b/news/CSCO/2023.01.03/Safe-T Group Ltd. Gets Bigger By Expanding Revenue-Generating Reach Of Wholly Owned Net...txt new file mode 100644 index 0000000000000000000000000000000000000000..dad649a3d7b21923b113aed44cec398f3189e776 --- /dev/null +++ b/news/CSCO/2023.01.03/Safe-T Group Ltd. Gets Bigger By Expanding Revenue-Generating Reach Of Wholly Owned Net...txt @@ -0,0 +1 @@ +Safe-T Group Ltd. (NASDAQ, TASE: SFET) keeps getting bigger. Last week, the company announced that its wholly owned subsidiary and enterprise privacy network unit, NetNut, is expanding its presence into the price comparison market, intending to accelerate growth through travel sector customer acquisitions involving price comparison websites (PCW). According to DataINTELO, the global price comparison website market was a $2.8 billion industry in 2019. However, estimating a CAGR of 8% through the end of this decade, that market will surge to over $6 billion. That puts SFET and wholly owned NetNut in the right markets at the right time.But more than early to an already massive opportunity, NetNut is showing itself as a better optimization solution for clients in the sector. That's led to explosive growth, evidenced by SFET reporting NetNut has doubled its usage volume within one month and processed over 36 billion customer requests. The sharp spike in volume is attributed to the onboarding of several strategic customers and integrations facilitating NetNut's network ability to process billions of requests compared to prior periods. Even better, SFET expects more acquisitions as potential clients become better acquainted with NetNut's ability to improve price comparison capabilities and offer users seamless and competitive business analysis and increased productivity.And keep this in mind: NetNut's impressive growth is just one part of the SFET value proposition.Video Link: https://www.youtube.com/embed/7fQeDbO2B80Three Business Segments Contributing To Record GrowthSFET's three business segments, which include enterprise privacy solutions, consumer cyber-security and privacy solutions, and enterprise cyber-security solutions, are also contributing to the record-setting revenue growth. Its cybersecurity and privacy solutions for both basic and advanced consumers provide a substantial security blanket against ransomware, viruses, phishing, and other online threats. It also provides users with a powerful, secured, and encrypted connection, masking their online activity and keeping them safe from hackers.Safe-T Group's privacy solutions for enterprises are powered by the world's fastest and most highly secured proxy network, enabling customers to anonymously collect data at any scale from any public source over the web using a unique hybrid network. Moreover, the SFET network comprises both exit points based on its proprietary reflection technology and hundreds of servers located at ISP partners worldwide, optimally designed to guarantee the service's privacy, quality, stability, and speed.Its third value driver, cybersecurity solutions for enterprises, is available through its reseller, TerraZone Ltd., a global information security provider. These solutions are designed for cloud, on-premises, and hybrid networks and mitigate attacks on enterprises' business-critical services and sensitive data. More importantly, they ensure uninterrupted business continuity by protecting data access, storage and exchange breaches, and threats from outside the organization or within by utilizing a "validate first, access later" philosophy.The result of SFET targeting multiple market opportunities: record-setting revenues and bottom-line growth.Best-Ever Revenues, Consecutive Quarterly GrowthSFET reported record-setting growth in Q3, an achievement that most companies weren't able to match. Many of the sector behemoths like Cisco Systems (NASDAQ: CSCO) and Oracle Corp (NASDAQ: ORCL) also fall short of the accelrating pace of SFET growth. Just as important, the momentum behind SFET's growth isn't losing steam. Revenues for the three months ending September 30, 2022, reached a record $4,812,000, 42% higher than last year. Even more impressive is that on a nine-month comparison, SFET assets combined to deliver a more than 109% increase in comparative revenues to $13,610,000. Both measures exceeded guidance.Record-setting revenues aren't the only numbers attracting investors' attention. SFET's bottom line numbers are equally exciting. There, gross profit for the nine months surged by 143% to $7,360,000 over last year's comparable. For the three months ending September 30, gross profit scored $2,627,000, 47% higher than the previous year's period. But here's the better news: aggressive reductions in non-accretive operating expenses should provide a tailwind into Q4, meaning that record-setting performances and consecutive quarterly growth are likely to continue. That presumption is well supported, noting SFET's privacy solutions for enterprise businesses reached break-even operating results, which helps set the stage for bottom-line expansion in the current and coming quarters.Analysts agree. The two covering SFET stock have a median 12-month price target of $5.50, more than 120% higher than current levels. Additionally, after completing a 1:10 split that leaves only about 3.26 million shares outstanding post-transaction, confirmation by SFET that its growth trajectory is strengthening - like the news last week - could help fuel an appreciable rally.Record-Setting Performance Fueled By Innovative FinancingThe good news for investors is that the rally could happen sooner than later. SFET's most recent financials contributed to its aggregating seven consecutive quarters of revenue growth. That achievement is especially impressive knowing that expansion has come despite some of the most turbulent and challenging times of business history, with pandemic-related issues closing economies and disrupting corporate spending. Despite that, SFET navigated its business terrain successfully. It delivered consistent operational progress, financed its operations, and facilitated growth through a non-dilutive credit line from a leading Israeli bank and a strategic revenue-share model financing from an industry expert.That model is proving beneficial to shareholders and lenders. Much of the non-dilutive funding came through a unique arrangement, with banks and strategic investors buying into SFET's strengths. Following their own validations, they invest in the purchase of consumers (a future asset being customers), which are expected to deliver a consistent, leveraged, and high return on investment. The company noted that funding through this model allowed SFET to invest $1.2 million in customer acquisition, providing growth for itself and already returning 20% of the investment.The better news is that with the financing strategy attractive to investors on an ROI basis, SFET has been able to guide that future deals can help facilitate potentially exponential growth to near and long-term revenues. Factoring in that potential, which is supported by data, analysts could be led to increase revenue estimates. If that's the case, price targets will likely rise in tandem. In other words, with a bullish setup into Q4 and 2023, trading ahead of expectations may be timely.More Records Expected In Q4 And In 2023In fact, SFET has provided the evidence to show the company is in its best position ever to grow. After its impressive Q3 financials, SFET continues to give updates highlighting organic growth and the strengthening momentum behind it. That tailwind is strong, too, as demonstrated by its enterprise privacy business turning profitable and scoring three months of record-setting numbers. Following that update, recent news about NetNut, and its CyberKick subsidiary performing better than expected, it's clear that SFET is firing on all cylinders operationally.That's not all. At the end of September, SFET's cash position totaled about $3.86 million, representing about $0.48 per ADS outstanding. The company noted that its cash balance excluded an additional $4.3 million from its recently secured credit facility and investor's financing, positioning SFET to capitalize on and maximize strategic initiatives. In other words, from operations to balance sheet, SFET shows no signs of weakness as it nears the closing of its 2022 books, and, more importantly, from an investor's perspective, is set up for success in 2023.Disclaimers: Shore Thing Media, LLC. (STM, Llc.) is responsible for the production and distribution of this content. STM, Llc. is not operated by a licensed broker, a dealer, or a registered investment adviser. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. Our reports/releases are a commercial advertisement and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The information made available by STM, Llc. is not intended to be, nor does it constitute, investment advice or recommendations. The contributors may buy and sell securities before and after any particular article, report and publication. 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It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled.Media ContactCompany Name: STM, LLC.Contact Person: Michael ThomasEmail: contact@primetimeprofiles.comPhone: 917-773-0072Country: United StatesWebsite: https://primetimeprofiles.com/.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/CSCO/2023.01.04/Factbox-Corporate America lays off thousands as recession worries mount.txt b/news/CSCO/2023.01.04/Factbox-Corporate America lays off thousands as recession worries mount.txt new file mode 100644 index 0000000000000000000000000000000000000000..ba6be2fdfa3f554ffe3860fab099f7ee30b3a67e --- /dev/null +++ b/news/CSCO/2023.01.04/Factbox-Corporate America lays off thousands as recession worries mount.txt @@ -0,0 +1 @@ +(Reuters) - U.S. companies, from tech majors to consumer firms, are bracing for a potential economic downturn by shrinking their employee base to streamline operations.Job cuts announced by U.S.-based employers jumped 13% to 33,843 in October last year, the highest since February 2021, according to a report.Here are some of the major job cuts announced in recent weeks:Amazon.com Inc:The e-commerce giant has laid off some employees in its devices group as a person familiar with the company said it still targeted around 10,000 job cuts, including in its retail division and human resources.Meta Platforms Inc:The Facebook-parent said it would cut 13% of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs this year as it grapples with a weak advertising market and mounting costs.DoorDash Inc:The food delivery firm, which enjoyed a growth surge during the pandemic, said it was reducing its corporate headcount by about 1,250 employees. AMC Networks Inc:The cable TV network said it would cut about 20% of its U.S. workforce, as it announced Chief Executive Officer Christina Spade had stepped down, less than three months into the role. Kraken:The cryptocurrency exchange said it would cut its global workforce by 30%, or about 1,100 employees, citing tough market conditions that have crippled demand for digital assets this year. Citigroup Inc:The bank eliminated dozens of jobs across its investment banking division, as a dealmaking slump continues to weigh on Wall Street's biggest banks, Bloomberg News reported. Morgan Stanley:The Wall Street powerhouse is expected to start a fresh round of layoffs globally in the coming weeks, Reuters reported on Nov. 3, as dealmaking business takes a hit.Intel Corp:Chief Executive Officer Pat Gelsinger told Reuters "people actions" would be part of a cost-reduction plan. The chipmaker said it would reduce costs by $3 billion in 2023.The adjustments would start in the fourth quarter, Gelsinger said, but did not specify how many employees would be affected.Microsoft Corp: The software giant laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. Johnson & Johnson:The pharmaceutical giant has said it might cut some jobs amid inflationary pressure and a strong dollar, with CFO Joseph Wolk saying the healthcare conglomerate is looking at "right sizing" itself. Twitter Inc:The social media company laid off half its workforce across teams ranging from communications and content curation to product and engineering following Elon Musk's $44 billion takeover. However, Bloomberg later reported Twitter was reaching out to dozens of employees who lost their jobs, asking them to return.Lyft Inc:The ride-hailing firm said it would lay off 13% of its workforce, or about 683 employees, after it already cut 60 jobs earlier this year and froze hiring in September.Warner Bros Discovery:Film subsidiary Warner Bros. Pictures is planning to cut a number of jobs in distribution and marketing that will reduce headcount by 5% to 10%, Bloomberg News reported.Beyond Meat Inc: The vegan meat maker said it plans to cut 200 jobs this year, with the layoffs expected to save about $39 million. Stripe Inc:The digital payments firm is cutting its headcount by about 14% and will have about 7,000 employees after the layoffs, according to an email to employees from the company's founders. Chime Financial Inc:The online banking firm has laid off 12% of its employees, or about 160 jobs, a spokesperson said. Opendoor Technologies Inc: The property-selling platform is laying off about 550 employees, Chief Executive Officer Eric Wu said, adding that the company had already reduced its workforce by more than 830 positions. Phillips 66:The refiner reduced employee headcount by over 1,100 as it seeks to meet its 2022 cost savings target of $500 million. The reductions were communicated to employees in late October.Chesapeake Energy Corp:The U.S. shale gas producer cut about 3% of its workforce, sources told Reuters, as the company readies a sale of South Texas oil properties. Seagate Technology Holdings Plc:The memory chip firm announced a restructuring plan including reducing worldwide headcount by about 8%, or 3,000 employees. Arrival SA: The EV startup said it plans to further "right-size" the organization, which could have a "sizable impact" on its global workforce, mostly in the UK. The company in July said it may cut up to 30% of workforce in restructuring. Coinbase Global: The cryptocurrency exchange said it planned to cut over 60 jobs, in its recruiting and institutional onboarding teams.The move marks a second round of jobs cuts at the company this year, and comes at a time when cryptocurrencies have been roiled by extreme volatility as investors dump risky assets. Walt Disney Co:The media giant is planning to freeze hiring and cut some jobs, according to a company memo seen by Reuters.Roku Inc:The video-streaming device maker said it would reduce its headcount by 5%, or about 200 employees, due to "current economic conditions".Cisco Systems Inc:The networking and collaboration solutions company said it will undertake restructuring which could impact roughly 5% of its workforce. The effort will begin in the second quarter of the fiscal year 2023 and cost the company $600 million. HP Inc:The computing devices maker said it expected to cut up to 6,000 jobs by the end of fiscal 2025. CNN:Warner Bros Discovery-owned CNN's top boss Chris Licht informed employees in an all-staff memo that job cuts were underway.Buzzfeed Inc:The online media company said it will cut about 12% of its workforce. As of Dec. 31 last year, the company had 1,522 employees in six countries.Blue Apron Holdings Inc:The online meal-kit company said it will cut about 10% of its corporate workforce, as it looks to reduce costs and streamline operations. The company had about 1,657 full-time employees, as of Sept. 30. Wolverine World Wide Inc:The casual footwear and apparel retailer said it had initiated a workforce reduction earlier this week and expects this initiative to result in about $30 million in savings in 2023.TuSimple Holdings IncThe autonomous driving technology company will lay off 25% of its workforce, or nearly 350 employees, as part of a restructuring plan to rein in costs.Micron Technology IncThe memory chipmaker will cut 10% of its workforce in 2023 and would reduce its capex plans for fiscal 2024, citing a nagging glut in the semiconductor market.Salesforce IncThe software company said it would lay off about 10% of its employees and close some offices as a part of its restructuring plan, citing a challenging economy. (Reporting by Deborah Sophia in Bengaluru; Additional reporting by Akash Sriram, Granth Vanaik, Eva Mathews and Yuvraj Malik; Editing by Sriraj Kalluvila, Shounak Dasgupta, Sherry Jacob-Phillips, Maju Samuel and Vinay Dwivedi) \ No newline at end of file diff --git a/news/CSCO/2023.01.04/Global markets live: Microsoft, Nvidia, Cisco, Salesforce, Rivian....txt b/news/CSCO/2023.01.04/Global markets live: Microsoft, Nvidia, Cisco, Salesforce, Rivian....txt new file mode 100644 index 0000000000000000000000000000000000000000..69b90144b7a44b469f881945b7f5c936091bd278 --- /dev/null +++ b/news/CSCO/2023.01.04/Global markets live: Microsoft, Nvidia, Cisco, Salesforce, Rivian....txt @@ -0,0 +1,21 @@ + +  +  +  + +Microsoft and OpenAI are working on a ChatGPT-powered Bing to challenge Google. It fell 4% after UBS lowered its recommendation on the company to "neutral" from "buy". +Apple's market value falls below $2,000 billion for the first time since 2021. iPhone sales through the three major U.S. telecom carriers rose in November month over month, a sign that demand remains strong, JP Morgan said. +Outokumpu closes the sale of several long product subsidiaries for €228M. +Ryanair's December traffic is up 3% from pre-pandemic levels. +Tokyo Gas is closing in on a deal to buy Rockcliff Energy, according to Reuters. +Rivian narrowly misses its 2022 production target of 25,000 vehicles. +Viasat closes Link 16 sale to L3Harris for $2 billion. +Nvidia and Foxconn will build autonomous vehicle platforms. +Merck KGaA licenses tumor-targeting cancer therapy to PDS Biotech. +ADC Therapeutics appoints Mohamed Zaki as medical director. +Cisco, Heico, Campbell Soup release dividends. +Salesforce was up 2% in premarket trading as the software company announced Wednesday it plans to cut about 10% of its global workforce and close some of its offices as part of a restructuring plan. +Rivian Automotive - The electric vehicle maker said Tuesday it narrowly missed its full-year 2022 production target of 25,000 cars. +U.S.-listed Chinese companies are indicated higher in pre-market trading on hopes for a post-Covid recovery in the Chinese economy. Baidu, Pinduoduo and JD.com were up 4.9% to 6.4%. Alibaba gained 6.7% after its subsidiary Ant Group received approval from Chinese regulators to raise 10.5 billion yuan for its consumer division. + +  diff --git a/news/CSCO/2023.01.04/Student Freedom Initiative Announces Cisco's Deployment of Wireless 5G Service at Clafl...txt b/news/CSCO/2023.01.04/Student Freedom Initiative Announces Cisco's Deployment of Wireless 5G Service at Clafl...txt new file mode 100644 index 0000000000000000000000000000000000000000..f4b7725d4a16ff1eac0cffdec14848ced51e1d40 --- /dev/null +++ b/news/CSCO/2023.01.04/Student Freedom Initiative Announces Cisco's Deployment of Wireless 5G Service at Clafl...txt @@ -0,0 +1,25 @@ + +Today, Student Freedom Initiative (“SFI”) and Cisco announced wireless 5G internet service deployment at Claflin University. + +This partnership will provide Claflin’s students, teachers, administrators and staff members with reliable connection to the internet. These services will allow this institution of higher education to provide a more robust and modern educational experience for its students, while also supporting greater administrative efficiency. + +“It is critical—now more than ever—that we ensure all students at Historically Black Colleges and Universities (HBCUs) have dependable high-speed internet if they are to compete in our 21st-century digital economy,” said Robert F. Smith, Founder and Board Chairman of Student Freedom Initiative, and Founder, Chairman and CEO of Vista Equity Partners. “I am grateful for Cisco’s continued dedication to providing resources in order to expand the available opportunities for HBCU students. They continue to be an essential partner in our fight for racial justice.” + +“Closing the digital divide is a necessary step in closing the racial wealth gap,” said Mark Brown, Executive Director of Student Freedom Initiative. “Students need the tools and resources to excel in their education and beyond. Deploying 5G service across Claflin’s campus will further engage students with their studies and creates a model to create equitable opportunities for HBCU students.” + +Thanks to a generous grant and infrastructure provided by Cisco, SFI will help to coordinate the installation of hardware, software, and customer premise equipment to initiate this service. The new 5G network will also serve the surrounding businesses, government facilities and members of the community. With 82% of HBCUs residing in broadband deserts, this pilot program will provide SFI and Cisco with valuable feedback on improving and expanding this initiative to other HBCUs and the surrounding communities. + +"Expanding 5G wireless service is an important step in making sure that students at HBCUs have the necessary resources for a high-quality education," said Saidah Grayson Dill, Vice President and Deputy General Counsel at Cisco. "This innovative solution will allow us to connect many of the households in the region that currently do not have access to the internet, and will inform our best practices as we expand this program to other HBCUs." + +About Student Freedom Initiative + +A single purpose nonprofit organization, Student Freedom Initiative aims to reduce the wealth gap through the lens of education. This is achieved by providing a catalyst for freedom in professional and life choices for students attending Minority Serving Institutions (“MSIs”) by increasing their social and economic mobility using a student centric, evidence based, holistic, and collaborative approach. Initially focused on Historically Black Colleges and Universities, Student Freedom Initiative enables mobility through four transformational components: (1) Student Freedom Fund as an income contingent alternative to Parent Plus loans, (2) Internships and industry-driven certifications, (3) Tutoring/Mentorships/Other Services, and (4) Targeted HBCU Capacity Building (e.g., access to affordable broadband, strengthening endowment governance and risk adjusted returns, workforce development in clean energy). Student Freedom Initiative collaborates with community-based organizations, businesses, and governmental entities through public-private partnerships to make sustainable, systemic changes to support the entire HBCU ecosystem. + +To date, Student Freedom Initiative has received generous contributions from Robert F. Smith, Fund 2 Foundation, Cisco, Jane Street, Prudential, First Republic, and the Walmart Foundation. The program has also been acknowledged and supported by the Business Roundtable's Racial Equity & Justice Subcommittee on Education. Our ability to provide support to MSI students is based on the continued financial support of these donors and others interested in supporting our mission. + +To learn more, visit https://studentfreedominitiative.org/ or find us on Twitter @StudentFreedom. + +About Cisco + +Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your enterprise, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Network and follow us on Twitter. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230104005617/en/ \ No newline at end of file diff --git a/news/CSCO/2023.01.05/Tech firms, Wall Street lead job cuts in Corporate America.txt b/news/CSCO/2023.01.05/Tech firms, Wall Street lead job cuts in Corporate America.txt new file mode 100644 index 0000000000000000000000000000000000000000..b0d9a8a0e25d24c508ffa9206214c918dce2923b --- /dev/null +++ b/news/CSCO/2023.01.05/Tech firms, Wall Street lead job cuts in Corporate America.txt @@ -0,0 +1,61 @@ +(Corrects to remove reference to Amazon's previous round of +layoffs. The error also occurred in previous versions)Jan 10 (Reuters) - Big Tech firms and Wall Street titans +are leading a string of layoffs across corporate America as +companies look to rein in costs to ride out the economic +downturn.Rapid interest rate hikes, weak consumer demand and an +economic slowdown in China have forced firms such as Amazon, +Walt Disney, Facebook-owner Meta and American banks to trim +their workforce.As a pandemic-led demand boom rapidly fades, tech companies +shed more than 150,000 workers in 2022, according to tracking +site Layoffs.fyi, and more layoffs are expected as growth in the +world's biggest economies start to slow.Here are some of the job cuts by major American companies +announced in recent weeks:Technology, media and telecom companies:Amazon.com Inc:The e-commerce giant said company-wide layoffs would impact +over 18,000 employees.Meta Platforms Inc:The Facebook-parent said it would cut 13% of its workforce, +or more than 11,000 employees, as it grapples with a weak +advertising market and mounting costs.Intel Corp:CEO Pat Gelsinger told Reuters "people actions" would be +part of a cost-reduction plan. The chipmaker said it would +reduce costs by $3 billion in 2023.Microsoft Corp:The software giant laid off under 1,000 employees across +several divisions in October, Axios reported, citing a source.Twitter Inc:The social media company has aggressively cut its workforce +across teams ranging from communications and content curation to +product and engineering following Elon Musk's $44 billion +takeover.Lyft Inc:The ride-hailing firm said it would lay off 13% of its +workforce, or about 683 employees, after it already cut 60 jobs +earlier this year and froze hiring in September.Salesforce IncThe software company said it would lay off about 10% of its +employees and close some offices as a part of its restructuring +plan, citing a challenging economy.Cisco Systems Inc:The networking and collaboration solutions company said it +will undertake restructuring which could impact roughly 5% of +its workforce. The effort will begin in the second quarter of +the fiscal year 2023 and cost the company $600 million.HP Inc:The computing devices maker said it expected to cut up to +6,000 jobs by the end of fiscal 2025.Financial firms:Goldman Sachs Group Inc:The premier Wall Street investment bank will start cutting +thousands of jobs across the firm, two sources familiar with the +move have told Reuters, as it prepares for a tough economic +environment in the year ahead.The job cuts are expected to be just over 3,000, one of the +sources said, in what would be the biggest workforce reduction +for the bank since the 2008 financial crisis.Morgan Stanley:The Wall Street powerhouse is expected to start a fresh +round of layoffs globally in the coming weeks, Reuters reported +on Nov. 3, as dealmaking business takes a hit.Citigroup Inc:The bank eliminated dozens of jobs across its investment +banking division, as a dealmaking slump continues to weigh on +Wall Street's biggest banks, Bloomberg News reported.Genesis:The cryptocurrency firm has cut 30% of its workforce in a +second round of layoffs in less than six months, a person +familiar with the matter told Reuters.Coinbase Global:The cryptocurrency exchange said it would slash nearly 950 +jobs, the third round of workforce reduction in less than a year +after cryptocurrencies, already squeezed by rising interest +rates, came under renewed pressure following the collapse of +major exchange FTX.Stripe Inc:The digital payments firm is cutting its headcount by about +14% and will have about 7,000 employees after the layoffs, +according to an email to employees from the company's founders.Consumer and retail companies:Beyond Meat Inc:The vegan meat maker said it plans to cut 200 jobs this +year, with the layoffs expected to save about $39 million.Blue Apron Holdings Inc:The online meal-kit company said it will cut about 10% of +its corporate workforce, as it looks to reduce costs and +streamline operations. The company had about 1,657 full-time +employees, as of Sept. 30.DoorDash Inc:The food delivery firm, which enjoyed a growth surge during +the pandemic, said it was reducing its corporate headcount by +about 1,250 employees.Energy and resources firms:Phillips 66:The refiner reduced employee headcount by over 1,100 as it +seeks to meet its 2022 cost savings target of $500 million. The +reductions were communicated to employees in late October.Health and pharmaceutical companies:Johnson & Johnson:The pharmaceutical giant has said it might cut some jobs +amid inflationary pressure and a strong dollar, with CFO Joseph +Wolk saying the healthcare conglomerate is looking at "right +sizing" itself. +(Reporting by Deborah Sophia in Bengaluru; Additional reporting +by Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik and +Manya Saini; Editing by Vinay Dwivedi, Shounak Dasgupta and +Shinjini Ganguli) \ No newline at end of file diff --git a/news/CSCO/2023.01.09/Factbox-Tech firms leading job cuts in Corporate America.txt b/news/CSCO/2023.01.09/Factbox-Tech firms leading job cuts in Corporate America.txt new file mode 100644 index 0000000000000000000000000000000000000000..c0c5d2f84c02eb48869184d35e8605844500afd9 --- /dev/null +++ b/news/CSCO/2023.01.09/Factbox-Tech firms leading job cuts in Corporate America.txt @@ -0,0 +1 @@ +Rapid interest rate hikes, weak consumer demand and an economic slowdown in China have forced firms such as Amazon, Walt Disney, Facebook-owner Meta and American banks to trim their workforce.As a pandemic-led demand boom rapidly wanes, tech companies shed more than 150,000 workers in 2022, according to tracking site Layoffs.fyi, and more layoffs are expected as growth in the world's biggest economies start to slow.Here are some of the major job cuts by American companies announced in recent weeks:Technology, media and telecom companies: Amazon.com Inc:The e-commerce giant said company-wide layoffs would impact over 18,000 employees, raising the figure from 10,000 layoffs it announced months ago.Meta Platforms Inc:The Facebook-parent said it would cut 13% of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs this year as it grapples with a weak advertising market and mounting costs.AMC Networks Inc:The cable TV network said it would cut about 20% of its U.S. workforce, as it announced Chief Executive Officer Christina Spade had stepped down, less than three months into the role.Intel Corp:CEO Pat Gelsinger told Reuters "people actions" would be part of a cost-reduction plan. The chipmaker said it would reduce costs by $3 billion in 2023.The adjustments would start in the fourth quarter, Gelsinger said, but did not specify how many employees would be affected.Microsoft Corp: The software giant laid off under 1,000 employees across several divisions in October, Axios reported, citing a source.Twitter Inc:The social media company laid off half its workforce across teams ranging from communications and content curation to product and engineering following Elon Musk's $44 billion takeover. However, Bloomberg later reported Twitter was reaching out to dozens of employees who lost their jobs, asking them to return.Twitter has since made further staff cuts in the trust and safety team handling global content moderation and in the unit related to hate speech and harassment, Bloomberg news reported.Seagate Technology Holdings Plc:The memory chip firm announced a restructuring plan including reducing worldwide headcount by about 8%, or 3,000 employees. Lyft Inc:The ride-hailing firm said it would lay off 13% of its workforce, or about 683 employees, after it already cut 60 jobs earlier this year and froze hiring in September.Warner Bros Discovery:Film subsidiary Warner Bros. Pictures is planning to cut a number of jobs in distribution and marketing that will reduce headcount by 5% to 10%, Bloomberg News reported.Roku Inc:The video-streaming device maker said it would reduce its headcount by 5%, or about 200 employees, due to "current economic conditions".TuSimple Holdings IncThe autonomous driving technology company will lay off 25% of its workforce, or nearly 350 employees, as part of a restructuring plan to rein in costs.Micron Technology IncThe memory chipmaker will cut 10% of its workforce in 2023 and would reduce its capex plans for fiscal 2024, citing a nagging glut in the semiconductor market.Salesforce IncThe software company said it would lay off about 10% of its employees and close some offices as a part of its restructuring plan, citing a challenging economy.Arrival SA: The EV startup said it plans to further "right-size" the organization, which could have a "sizable impact" on its global workforce, mostly in the UK. The company in July said it may cut up to 30% of workforce in restructuring. Opendoor Technologies Inc:The property-selling platform is laying off about 550 employees, Chief Executive Officer Eric Wu said, adding that the company had already reduced its workforce by more than 830 positions.Cisco Systems Inc:The networking and collaboration solutions company said it will undertake restructuring which could impact roughly 5% of its workforce. The effort will begin in the second quarter of the fiscal year 2023 and cost the company $600 million.HP Inc:The computing devices maker said it expected to cut up to 6,000 jobs by the end of fiscal 2025. CNN:Warner Bros Discovery-owned CNN's top boss Chris Licht informed employees in an all-staff memo that job cuts were underway.Buzzfeed Inc:The online media company said it will cut about 12% of its workforce. As of Dec. 31 last year, the company had 1,522 employees in six countries.Financial firms: Goldman Sachs Group Inc:The premier Wall Street investment bank will start cutting thousands of jobs across the firm, two sources familiar with the move told Reuters, as it prepares for a tough economic environment in the year ahead. The job cuts are expected to be just over 3,000, one of the sources said, but the final number is yet to be determined. Morgan Stanley:The Wall Street powerhouse is expected to start a fresh round of layoffs globally in the coming weeks, Reuters reported on Nov. 3, as dealmaking business takes a hit.Citigroup Inc:The bank eliminated dozens of jobs across its investment banking division, as a dealmaking slump continues to weigh on Wall Street's biggest banks, Bloomberg News reported.Kraken:The cryptocurrency exchange said it would cut its global workforce by 30%, or about 1,100 employees, citing tough market conditions that have crippled demand for digital assets this year.Genesis:The cryptocurrency firm has cut 30% of its workforce in a second round of layoffs in less than six months, a person familiar with the matter told Reuters. Coinbase Global: The cryptocurrency exchange said it planned to cut over 60 jobs, in its recruiting and institutional onboarding teams.The move marks a second round of jobs cuts at the company this year, and comes at a time when cryptocurrencies have been roiled by extreme volatility as investors dump risky assets. Chime Financial Inc:The online banking firm has laid off 12% of its employees, or about 160 jobs, a spokesperson said.Stripe Inc:The digital payments firm is cutting its headcount by about 14% and will have about 7,000 employees after the layoffs, according to an email to employees from the company's founders.Consumer and retail companies: Beyond Meat Inc: The vegan meat maker said it plans to cut 200 jobs this year, with the layoffs expected to save about $39 million.Blue Apron Holdings Inc:The online meal-kit company said it will cut about 10% of its corporate workforce, as it looks to reduce costs and streamline operations. The company had about 1,657 full-time employees, as of Sept. 30.Stitch Fix Inc:The online personalized styling service firm said it will cut about 20% of its salaried positions. The company had about 7,920 full- and part-time employees as of July 30.Wolverine World Wide Inc:The casual footwear and apparel retailer said it had initiated a workforce reduction earlier this week and expects this initiative to result in about $30 million in savings in 2023.DoorDash Inc:The food delivery firm, which enjoyed a growth surge during the pandemic, said it was reducing its corporate headcount by about 1,250 employees.Energy and resources firms: Chesapeake Energy Corp:The U.S. shale gas producer cut about 3% of its workforce, sources told Reuters, as the company readies a sale of South Texas oil properties.Phillips 66:The refiner reduced employee headcount by over 1,100 as it seeks to meet its 2022 cost savings target of $500 million. The reductions were communicated to employees in late October.Health and pharmaceutical companies:Johnson & Johnson:The pharmaceutical giant has said it might cut some jobs amid inflationary pressure and a strong dollar, with CFO Joseph Wolk saying the healthcare conglomerate is looking at "right sizing" itself. (Reporting by Deborah Sophia in Bengaluru; Additional reporting by Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik and Manya Saini; Editing by Vinay Dwivedi, Shounak Dasgupta and Shinjini Ganguli) \ No newline at end of file diff --git a/news/CSCO/2023.01.10/Cisco : How Cisco and Hybrid Work Changed My Family's Life.txt b/news/CSCO/2023.01.10/Cisco : How Cisco and Hybrid Work Changed My Family's Life.txt new file mode 100644 index 0000000000000000000000000000000000000000..4dfbfc2e1625a0bb4f4bbd0f86989535d8bec414 --- /dev/null +++ b/news/CSCO/2023.01.10/Cisco : How Cisco and Hybrid Work Changed My Family's Life.txt @@ -0,0 +1,63 @@ + + + + When living in RTP, it's impossible to not be aware of who the top companies are in the area. I always had my eye on Cisco as "The One" for me and I was lucky enough to have several previous colleagues, who now work for Cisco, to educate me on what Cisco was all about. Each time I would speak to someone about the culture that Cisco cultivates and all the benefits that come with working there, my desire to work for Cisco continued to grow. + + + In November of 2019, I joined Cisco as a Collaboration Customer Success Manager supporting Webex global enterprise east accounts. I had finally joined the company I always had my eye on, but I didn't know then just how life-changing taking this role would truly be. + + + My ramp-up time in my new role was significantly shortened with the start of the pandemic and, with it, the skyrocketing demand for Webex support. With all the external stress the world had to offer during this time, I never felt that same stress at work. Leadership always checked on our workloads, stress levels, and mental health, and we had everything we needed to succeed while ensuring a proper balance between work and home life. This was eye-opening for me as I had never experienced this level of support in a workplace. Because of this culture, I was fully charged for each day. I took part in and supported some of the largest events on Webex, including the NFL Draft, high-profile government meetings, and multiple events where top Fortune 500 executives across the country strategized how to tackle the challenges around COVID. + + + 2021 started as any other "normal" COVID year for my family. It was filled with masking up, virtual schooling twin kindergartners, and keeping our social bubble small. Due to the pandemic and Cisco's stance on hybrid work, I became a full-time remote worker. This allowed my wife and I the opportunity to move back to her hometown, where her mother still lives. It took a little bit to convince my wife that we should make the move, but there was a gentle tug on my heart leading me there, so I was persistent. Two weeks after moving, amidst unpacking boxes, my extremely healthy mother-in-law was diagnosed with multiple myeloma. I immediately realized that our moving there to be closer to her was divine intervention at its finest. + + + + She completed five cycles of chemotherapy and was fortunate enough to be a candidate for a stem cell transplant in the fall. While she was still learning to live with the new lifestyle of frequent blood draws, bone marrow biopsies, and maintenance chemo, our family was hopeful for a long future with her. Ironically enough, my wife is a nurse who used to work in the emergency department, and her sister is a nurse who used to work in bone marrow transplants. Both have now shifted their focus and currently work as nurses in research. + + + As 2021 continued, I picked up running as it felt like the perfect thing to be active while also social distancing. I started thinking about setting some goals and looked into the Boston Marathon, a pinnacle race in a city I love. During some late-night internet browsing, I discovered the marathon's fundraising component that would allow me to run while also raising funds for a charity. With such a connection to multiple myeloma (MM), I found the Multiple Myeloma Research Foundation (MMRF) very intriguing. The significant impact an organization such as MMRF can have in helping identify new treatments is astonishing. Because of this, we may one day have a cure for MM. This made MMRF the obvious choice as my selected charity for fundraising efforts. + + + While I was confident I could raise the money, I was wonderfully surprised by the overwhelming support from my Cisco family in my fundraising efforts and in their supporting my ambitions to run the Boston Marathon. My Cisco community donated $3,200 and through Cisco's Bright Funds 1:1 donation matching program, that grew to $6,400 in total from Cisco alone! Because of this, I was able to raise a total of nearly $13,000 in prep for the marathon. + + + + Just as their generous donations had blown me away, so did my Cisco team's support during the marathon. They set up a tracker system in our Webex group space to follow along, and the words of encouragement I saw after the race were overwhelming. + + + Fast forward to October 2022 to find out that my mother-in-law, Linda, is officially in REMISSION! While she will still require medication to keep MM at bay, this was amazing news. Our family is so very grateful for all the wonderful future memories we will get to make with her. In celebration, I am happy to continue my running and fundraising journey by joining the MMRF team running the London Marathon on April 23, 2023. My whole family, including my mother-in-law, will be there along the course. I know that with the support of my Cisco family and community, I have every opportunity to successfully meet my fundraising goal of $50,000 for the MMRF while running each of the six major marathons. + + + To accomplish this goal while still being successful in my career is a dream come true! I never thought I would have such an amazing work-life balance, but truly anything can be achieved with Cisco's second-to-none support of its employees. + + + Over the years, Cisco has gone from the company I aspired to work for to the company I want to stay with long-term. Now I'm the one telling non-Cisconians what this company is all about. I get told, "I am drinking the Cisco Kool-Aid." And my response to this is always the same-you are right! I am. It's given me opportunities and changed my family's life. + + + Are you ready to join our incredible teams? Find an opportunity now! + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 10 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2023 13:11:11 UTC. + + diff --git a/news/CSCO/2023.01.10/Cisco : Unveils Its Most Powerful and Energy-Efficient Computing Systems.txt b/news/CSCO/2023.01.10/Cisco : Unveils Its Most Powerful and Energy-Efficient Computing Systems.txt new file mode 100644 index 0000000000000000000000000000000000000000..f8425455d1de7fd53d5bfc2ded6c0331a28a1096 --- /dev/null +++ b/news/CSCO/2023.01.10/Cisco : Unveils Its Most Powerful and Energy-Efficient Computing Systems.txt @@ -0,0 +1,96 @@ + + + +Cisco UCS with 4th Gen Intel Xeon Scalable Processors + + + Cisco and Intel have enjoyed a long history of co-innovation and collaboration spanning many major technology shifts including 5G, IoT, and data center transformation. In this last area, Cisco and Intel have worked together since 2009 to redefine the server computing category through groundbreaking capabilities in the Cisco Unified Computing System (UCS). In 2021, Cisco and Intel jointly delivered the UCS M6 servers in April followed quickly by the introduction of the highly modular and future-ready UCS X-Series in June. + + + Today, we are resetting the bar again with the 7th generation of UCS C-Series and X-Series servers that will be powered by 4th Gen Intel Xeon Scalable processors. There are actually two elements of what Cisco and Intel are delivering. One, we are providing our customers with greater flexibility and more performance for modern workloads with new C-Series and X-Series servers. Two, we are delivering application acceleration without compromise by supporting the Intel Data Center GPU Flex Series in our UCS X-Series Fabric technology, enabling customers to support a wider range of rapidly evolving, increasingly compute-intensive workloads. + + + Jonathan Davidson, EVP and General Manager of Cisco Networking, + congratulates Intel on its launch of its 4th Gen Intel Xeon Scalable processors + + +Addressing IT's Top-of-Mind Concerns + + + With our announcement, we are directly addressing two primary concerns that virtually every enterprise IT organization is grappling with today. The first is the reality that enterprise workloads are becoming increasingly dynamic and is necessitating widescale modernization of IT infrastructure. Additionally, Cisco research revealed that more than half of the customers we surveyed are moving their workloads between on and off-prem environments on a weekly basis. This requires solutions that can transform both infrastructure and operations to securely support the demands of workloads such as artificial intelligence (e.g., machine learning), data analytics (e.g., big data), storage (e.g., SDS), and efficient computing (e.g., virtual desktop infrastructure). + + + The second concern is the increasing scrutiny of IT organizations are facing to be more sustainable in their operations through more energy-efficient infrastructure and advanced monitoring and management systems. In fact, Gartner listed sustainability as its top strategic technology trend for 2023 noting that companies must "invest more in innovative solutions that are designed to address ESG demand to meet sustainability goals." + + +[Link] + + +UCS and Intersight Rise to the Challenge Again + + + This new class of next-generation UCS servers along with the simplified IT operations made possible by Cisco Intersight help customers solve both issues. We are giving customers more options across the UCS portfolio with two-socket 1RU/2RU rack servers and two & four-socket X-Series modular compute nodes, all based on the new 4th Gen Intel Xeon Scalable CPUs. + + +[Link] + + + We are also taking advantage of the future-ready and modular architecture of the UCS X-Series by continuing to disaggregate technologies and eliminate historical forced upgrades/forklifts when adopting new technologies. The ability to support 2-socket and 4-socket, M6 and M7 generation compute nodes, and a variety of GPUs in PCIe nodes all in the same chassis is a proof point that the flexibility of the UCS X-Series modular design offers tremendous investment protection. This flexibility enables UCS to support advanced technologies such as DDR5, PCIe 5.0, Compute Express Link 1.1 (CXL), and now the Intel Data Center GPU Flex Series. Powered and managed by Intersight, the UCS X-Series can support modern workloads efficiently on a blade-server architecture that has historically been only practical on rack-based servers. + + + This combination of density, performance, modularity, and simplified manageability will deliver a number of compelling operational and sustainability benefits including: + + + + Ability to "do more with less" by reducing the number of systems with up to a 4-to-1 consolidation ratio compared to previous generation UCS servers while supporting more and newer types of workloads. + + + Ability to reduce components, devices, and cabling through the new UCS X-Series Fabric architecture that can deliver up to 64 percent better performance and 31 percent lower power usage to previous models for greater efficiency and sustainability. + + + Ability to achieve sustainability from policies & management at scale through Cisco Intersight that provides customers with global control of sustainability policies as well as fine-tuned visibility and control of other operations. + + + +[Link] + + +For more information: Catch us at Cisco Live! Amsterdam + + + The new UCS C-Series and X-Series servers will be orderable for customers starting in February. We will be sharing more information through solution demos and speaking sessions at Cisco Live Amsterdam (Feb. 6 through 10, 2023). Here's a partial list of the resources that will be available to attendees, both in-person and virtual: + + + For now, I'd like to personally thank and congratulate our valued partners at Intel for their momentous launch of the new 4th Gen Intel Xeon Scalable Processors that are powering our latest UCS platforms. It's another great example of how our two companies are delivering breakthrough innovations and unprecedented value for customers everywhere. + + +Join our WEBINAR: + + +January 17, 2023 +10:00 AM Pacific Time + (San Francisco, GMT-08:00) + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 10 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2023 18:14:13 UTC. + + diff --git a/news/CSCO/2023.01.10/Record Revenues Prove An Important P : Safe-T Group Ltd. Is Doing The Right Things At The ...txt b/news/CSCO/2023.01.10/Record Revenues Prove An Important P : Safe-T Group Ltd. Is Doing The Right Things At The ...txt new file mode 100644 index 0000000000000000000000000000000000000000..8deb43da3c7e0a088b9710f88d28956a0244d3d6 --- /dev/null +++ b/news/CSCO/2023.01.10/Record Revenues Prove An Important P : Safe-T Group Ltd. Is Doing The Right Things At The ...txt @@ -0,0 +1 @@ +Safe-T Group Ltd. (NASDAQ, TASE: SFET) stock is taking a consolidation breather after ramping higher by over 10% to start the new year. However, as SFET enters 2023 with considerable revenue-generating momentum at its back, that pause may be short-lived. In fact, the time may be ripe for trading ahead of Q4 numbers knowing that its Q3 results were not just impressive; they were record-setting. The better news: guidance coupled with aggressive cost-cutting has positioned SFET to deliver more of the same, and not only in its Q4 performance but for all of 2023.That bullish presumption is warranted. Last month, SFET announced a strengthening market opportunity that its wholly-owned subsidiary and enterprise privacy network unit, NetNut, is poised to seize. The company has its sights set on an enormous revenue-generating opportunity from current and prospective clients in the price comparison website (PCW) market, a sector valued at an estimated $2.8 billion according to a report published by DataINTELO research. But the better news for SFET and NetNut is that those estimates date back to 2019. With an expected CAGR of 8%, SFET assets are staring down a $6 billion market by 2030. That means that in addition to SFET being ideally positioned to get bigger faster, investors at these levels can also win.And keep in mind that SFET is already taking advantage of its opportunities by offering best-in-class optimization solutions to several business segments needing innovative and client-specific cyber-security solutions. Actually, they are more than just offering - they are delivering.Video Link: https://www.youtube.com/embed/7fQeDbO2B80Record Earnings In Q3, Guidance Is BullishIn Q3, SFET noted that NetNut doubled its usage volume and processed over 36 billion customer requests over a comparative monthly period. Growth was attributed to the onboarding of several strategic customers that facilitated NetNut's network ability to process billions of requests compared to prior periods. While impressive at current run rates, expectations call for more growth, with further client acquisitions likely as they become better acquainted with NetNut's ability to improve price comparison capabilities, provide users with seamless and competitive business analysis, and, most importantly, increase productivity.But NetNut isn't the only asset contributing to SFET's record-setting Q3 performance. Revenue contributions from other products in its enterprise privacy solutions, consumer cyber-security and privacy solutions, and enterprise cyber-security solutions segments add to the company's steepening growth trajectory.Its cybersecurity and privacy solutions for basic and advanced consumers provide a substantial security blanket against ransomware, viruses, phishing, and other online threats. It also provides users with a robust, secure, and encrypted connection, masking their online activity and keeping them safe from hackers. A second segment, privacy solutions for enterprises, is powered by the world's fastest and most highly secured proxy network that enables customers to anonymously collect data at any scale from any public source over the web using a unique hybrid network. In addition, the SFET network comprises both entry and exit points based on its proprietary reflection technology, leveraging the power of hundreds of optimally designed servers located at ISP partners worldwide that help guarantee the service's privacy, quality, stability, and speed.Its third value driver targets business from clients needing enterprise cybersecurity solutions. This revenue stream is accretive through its global information securities provider, TerraZone Ltd. Designed for cloud, on-premises, and hybrid networks, these tailored solutions mitigate attacks on enterprises' business-critical services and sensitive data. They also ensure uninterrupted business continuity by protecting data access, storage and exchange breaches, and threats from both within and outside the organization by utilizing a "validate first, access later" philosophy.Perhaps the best news from a company and investor's perspective is that these assets aren't just targeting these opportunities; they are seizing them, delivering record-setting results at a pace that industry giants like Rapid7, Inc. (NASDAQ: RPD), Palo Alto Networks (NASDAQ: PANW), and Cisco (NASDAQ: CSCO) can't keep pace with. Evidence of that is in the quarterly results published.Seven Consecutive Quarters Of GrowthFor its Q3 ending September 30, SFET reported impressive growth. In fact, they were record-setting. Specifically, revenues for the comparative period surged by 42% to a record $4,812,000. For the nine-month, or YTD comparison, SFET revenues rose by 109% to $13,610,000. Notably, results for both periods measured exceeded prior guidance. Just as important to the significant growth is that those revenues are falling faster to SFET's bottom line.Gross profit for the nine months surged by 143% to $7,360,000 over last year's comparable, and for the three months ending September 30, gross profit scored 47% higher than the previous year's period to reach $2,627,000. While impressive, SFET enters Q4 showing no signs of slowing. Thus, from a forward-looking perspective, even better results could be in the queue. And when noting the aggressive reductions in non-accretive operating expenses, that bullish expectation is more than likely; it's probable.Currently, two industry analysts support that assumption, modeling for a median 12-month price target of $5.50 - more than 103% higher than current levels. With only about 3.26 million shares outstanding, if SFET confirms that its path remains biased to record-setting in Q4 results, reaching that target could happen sooner than later.Positioned To Rally In 2023Frankly, trading ahead of Q4 results may be a wise consideration. Remember, SFET has delivered consecutive growth over the past seven quarters. More importantly, they've provided evidence that they will enter the new year better positioned than ever to keep that winning streak alive. In fact, they are showing growth across all of its revenue-generating channels.Recent updates, like that about NetNut, highlight organic growth and the ability to capitalize on strengthening market positions. Better still, the momentum behind that growth looks strong, evidenced by its enterprise privacy business turning profitable and scoring its own record-setting numbers. Moreover, they noted that another subsidiary, CyberKick, is performing better than expected, stirring belief that income from that asset could contribute considerably more to revenue streams in the near term. Thus, appraising SFET on a sum of its parts, supported by company updates, exposes a disconnect between share price and performance. And with roughly $8.1 million in cash, which includes $4.3 million raised after Q3, it's an imbalance serving up a timely investment opportunity.A Bullish Proposition In PlayMost important to that consideration is that SFET isn't sitting idle. Instead, they are actively pursuing revenue-generating opportunities from clients across multiple sectors needing the type of cyber-security solutions SFET sells. Keep in mind, having the assets and managerial expertise to reach that demand should be considered an asset in itself that separates SFET from others in the space.Yes, there are big names in the sector, and yes, they offer specific solutions. But what's different about SFET is that they are nimble, an appreciable difference from large-cap competitors that may find it difficult to quickly reprogram to address cyber-threats that change almost daily.In that sense, being small has its advantages. While SFET currently meets that description, a growth spurt is certainly not out of the question. In fact, strategic initiatives, formidable assets, a strong balance sheet, and expert management indicate that SFET is getting bigger. And with record revenues and strengthened bottom-line performance, the best news may be that historical performance could be a precursor of better things to come.Disclaimers: Shore Thing Media, LLC. (STM, Llc.) is responsible for the production and distribution of this content. STM, Llc. is not operated by a licensed broker, a dealer, or a registered investment adviser. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. Our reports/releases are a commercial advertisement and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The information made available by STM, Llc. is not intended to be, nor does it constitute, investment advice or recommendations. The contributors may buy and sell securities before and after any particular article, report and publication. 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STM, LLC has been compensated up to ten-thousand-dollars cash via wire transfer by a third party to produce and syndicate content for Safe-T Group, Ltd.. for a period of five weeks. As part of that content, readers, subscribers, and website viewers, are expected to read the full disclaimers and financial disclosures statement that can be found on our website.The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled.Media ContactCompany Name: STM, LLC.Contact Person: Michael ThomasEmail: contact@primetimeprofiles.comPhone: 917-773-0072Country: United StatesWebsite: https://primetimeprofiles.com/.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/CSCO/2023.01.12/Cisco And Iot : The Power of Partnership.txt b/news/CSCO/2023.01.12/Cisco And Iot : The Power of Partnership.txt new file mode 100644 index 0000000000000000000000000000000000000000..0fe796cbf2f2547d6a2fe30c28eb15f9887849b2 --- /dev/null +++ b/news/CSCO/2023.01.12/Cisco And Iot : The Power of Partnership.txt @@ -0,0 +1,97 @@ + + + + As we enter 2023, I'm gratified at what we accomplished with our partners in 2022 and optimistic about the future. Last year IoT continued to transform the world through unprecedented digitization. We saw IoT deliver increased business resiliency, more sustainable working conditions, energy efficiencies, and much more. Regardless of the industry or use case, businesses are turning to IoT to connect and protect what matters most. + + + Our strong collaboration with industry partners is the foundation of Cisco's IoT business success. Because of those partnerships, we've experienced sustained growth across all Cisco's IoT businesses, surpassing $1 billion in revenue in 2022 with double digit year-over-year growth. A strategic part of our IoT business is Cisco IoT Control Center, the industry leading connectivity management platform (CMP) that helps communication service providers (CSP) grow faster, simplify operations, and deliver better business outcomes to enterprise and business customers. CSPs and enterprises continue to choose IoT Control Center as their go-to CMP, with 10% year-over-year revenue growth. Today, there are over 220 million devices (and growing) utilizing IoT Control Center, with over 92 million connected cars. + + +IoT at global scale + + + IoT Control Center manages IoT at scale and we work with more than 50 CSPs globally to serve over 32,000 enterprises around the world. We're constantly working closely with our CSP partners to identify critical innovations and make important investments in the IoT Control Center platform and business. From the introduction of a Mass-IoT solution to AI/ML-based cost optimization and anomaly detection capabilities, we're continuously looking ahead to help customers capture new revenue opportunities and ensure they receive maximum value from our platform. + + + Furthermore, the IoT Control Center platform is the foundation of our Mobility strategy. We recently introduced Cisco Private 5G service on the platform and will introduce more 5G IoT and business services over the coming months. This ongoing investment in the platform continues to support a robust, stable, and sustainable business. Through our simple subscription-based business model, we're empowering and accelerating the global adoption of IoT for our CSP customers. + + +Connected cars + + + Transportation is driving the evolution of connectivity, particularly around 5G, and together with our CSP partners we work closely with automobile manufacturers across the globe to meet their increasingly complex needs for mission-critical connectivity. + + + The foundation of our business resiliency and growth is built on our industry leadership in this high-value, high-growth connected transportation space, along with a healthy mix of mass IoT use cases. Our ongoing commitment to innovation and investment in connected transportation technology will ensure future leadership and continued profitability for our CSP partners. + + +Bright future ahead + + + Building on over 16 years of Cisco IoT industry leadership, we and our CSP partners are uniquely positioned and prepared to lead enterprise customers into a new era of 5G intelligent connectivity to connect everything and everyone, everywhere. As I look to 2023, I do so with optimism about the future and confidence in the power of our partnerships to deliver a truly connected future for all. + + + [Sidebar] "Our collaboration with Cisco has been the cornerstone of our IoT business for many years and we count on their continued technology leadership and our ongoing partnership to drive our future IoT success." - Cyril Deschanel, Managing Director, Tele2 IoT + + + [Sidebar] "Our close collaboration and partnership with Cisco is crucial in achieving our plans to spur more development of IoT business services across the service and Data Center provider industry in Indonesia and the region." Andreuw ThaF CEO NeutraDC Telkom Indonesia + + +Learn more + + + Take a few moments to read more about Cisco IoT Control Center and see how our innovative connectivity management platform helps CSPs and enterprises grow their business. + + +Additional Resources + + + Press Release - T-Mobile and Cisco Launch World's Largest Cloud Native Converged Core Gateway + + + Press Release - Telkom and Cisco Establish Strategic Collaboration on IoT Control Center and Software Defined Network in ASEAN + + + Press Release - Cisco Helps Usher in New Era for Mass IoT + + + Press Release - Cisco Brings the Promise of Private 5G to Enterprises, Together with Global Partners + + + Press Release - AT&T and Cisco Launch 5G Service for the Internet of Things + + + Press Release - Cisco and General Motors Combine Forces for the Future of Connectivity in Cars + + + Press Release - Verizon-Cisco Collaboration Advances Autonomous Vehicle Tech with Streamlined Architecture + + + Press Release - Spark New Zealand Strengthens Its IoT Platform with Cisco to Help Business Customers Improve Productivity + + + Press Release - Cisco and General Motors Combine Forces for the Future of Connectivity in Cars + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 12 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 January 2023 16:29:08 UTC. + + diff --git a/news/CSCO/2023.01.12/Fabrinet : A midcap in great shape.txt b/news/CSCO/2023.01.12/Fabrinet : A midcap in great shape.txt new file mode 100644 index 0000000000000000000000000000000000000000..62bcbca4870e378c8a235bf4dcf684d5ff4f2b0c --- /dev/null +++ b/news/CSCO/2023.01.12/Fabrinet : A midcap in great shape.txt @@ -0,0 +1,22 @@ + + +zb_graphics_of_course + +Fabrinet's product mix includes industrial lasers, optical communication modules, sensors and advanced medical devices. Fabrinet can boast of being a leader in certain segments. The main source of revenue is generated by the optical communications segment (78% of sales). Geographically, revenues are well distributed between the US (49%), Asia (33%), Europe (14%) and the rest of the world. +Fabrinet has long-term partnerships with its customers through customized programs from creation to production. Typically, with Cisco Systems for example, its largest customer, which accounts for 25% of revenues. Revenues are well distributed between the US (49%), Asia (33%), Europe (14%) and the rest of the world. +The company is benefiting from its breakthrough in the electric vehicle (EV Charging) and autonomous vehicle (LIDAR) markets and other long-term growth markets such as biotech equipment, optical communication and industrial lasers. The demand for autonomous vehicles, quantum computers, 5G and soon 6G, and advanced technology equipment are all sources of future growth for the company. + +Financial analysis +Over the last decade (2012-2022), revenue quadruples from $565 million to $2.2 billion. This performance is all the more remarkable since the growth was entirely organic: there were almost no acquisitions, just a small anecdotal operation in 2016. + +Source: MarketScreener +The operating margin averaged 7.5% over the cycle studied (2012-2022), which is fairly typical of an industrial company, but it is constantly increasing. Moreover, what jumps out for an industrial company is that over the cycle there were no asset depreciations, no "exceptional" expenses and that the interest expense is almost zero (there is no debt). Very good points to note. +In fact, the financial position has always been extremely conservative, with total liabilities almost entirely covered by cash, and in any case largely covered by cash and trade receivables. The inventories, for their part, are running well (5 times a year on average). There is no hitch in the cycle on this side either. + +Source : MarketScreener +The number of shares remains stable (around 36800) and the book value goes from 7 to 34 dollars per share. Over the last two years, we have a profit per share of 4 (2021) and 5 dollars (2022): thus an ROE around 15%, quite typical of a well managed industrial value. Let's note that it actually has a lot of money under its belt. The ROE could be optimized because Fabrinet is largely overcapitalized. +Cash generation (conversion of book profit into free cash flow) has improved significantly over the last three years and the group has an average annual FCF of110 million, here not adjusted for stock options, which are quite high ($28 million last year, i.e. a quarter of the profit anyway). +If we relate this profit (because not restated for Stock Based Compensation (SBC) as said before) to the enterprise value (market capitalization minus excess cash), we are on a multiple of 8 times profits. This seems high at first sight and not easy to justify unless we assume that the exceptional growth of the cycle that is ending will be reproducible in the next cycle, in which case it seems justified. +From my point of view, everything suggests that the future outlook will continue to be one of strong growth. Any pullback on this stock (assuming the fundamental scenario does not change) should be seen as a buying opportunity for those looking for a growth industrial-technology stock. +That being said, insiders are selling at these price levels. This reinforces the idea that the stock may be a bit overvalued at the moment. Moreover, the shareholding is fragmented between various index and institutional funds, which is a bit unfortunate. Still on the level of shareholder dynamics, SBC (stock-based comp) are abnormally high at the moment (a quarter of the profit as seen above) and for some years the capital allocation is entirely oriented towards share buybacks (sometimes at a high price). We are therefore waiting for an improvement on this side before considering a potential purchase on this stock. +Despite these regrets about the shareholder dynamics and the premium on the stock, Fabrinet remains a very qualitative company, managed by a competent, well-capitalized, profitable management. A stock to watch closely in the coming years and which deserves its place in a watchlist. diff --git "a/news/CSCO/2023.01.13/Cisco : #CiscoChat \342\200\223 Become a Collaboration Hero of the Hybrid World.txt" "b/news/CSCO/2023.01.13/Cisco : #CiscoChat \342\200\223 Become a Collaboration Hero of the Hybrid World.txt" new file mode 100644 index 0000000000000000000000000000000000000000..4959afae826a1669afbf39ab18ecffaccec73a13 --- /dev/null +++ "b/news/CSCO/2023.01.13/Cisco : #CiscoChat \342\200\223 Become a Collaboration Hero of the Hybrid World.txt" @@ -0,0 +1,89 @@ + + + + The world had come to a screeching halt at the onset of the COVID-19 pandemic. Once lined by the fluorescent glow of brick-and-mortar offices bustling with employees, streets became dark and empty. Their doors, and the traditional networks behind them, were locked. Indefinitely. + + + In these uncertain times, organizations knew their business was at stake. Remote network connectivity, once a nice-to-have, had become a need-to-have. IT teams went to work, racing to transform their traditional network operations into a hybrid model. And seemingly overnight, they fast-tracked the adoption of IT solutions they would have otherwise implemented gradually. + + + In today's hybrid world, companies have to adapt and make way for digital transformation. They must offer agile, inclusive work experiences that attract and retain the best talent. This is only possible with the right collaboration tools-and the IT professionals who have the skillset to integrate them seamlessly. + + + The only constant in the world of technology is that it is ever-changing. And where there are business challenges, there are opportunities that await those with the desire to learn, upskill, and rise to the occasion. That being said, when it comes to these challenges in collaboration, our organizations need a hero. Here's how you can become the collaboration hero our organizations need. + + +#CiscoChat - Become a Collaboration Hero of the Hybrid World + + +Speakers: + + + + Geoff Anderson, Program Manager, Cisco Learning & Certifications + + + Scott Hunt, Lead Content Engineer, Cisco Learning & Certifications + + + Moderated by: Stef Garraffa, Social Media Manager, Cisco Learning & Certifications + + + + Don't miss this #CiscoChat Live on January 19, 2023, at 10 a.m. Pacific Time. Learn how Cisco Collaboration training and certifications equip you with the skills and knowledge to unlock the full potential of collaboration, conferencing, and unified communications tools-the backbone of collaboration architecture. Cisco Collaboration Experts Geoff Anderson, Program Manager, and Scott Hunt, Lead Content Engineer, will discuss the need for new collaboration experts across IT and how you can build the skills that keep organizations seamlessly connected. + + +Live Q&A: We will take your questions live throughout the show. Ask our experts about Cisco training and certifications, career advice, training suggestions, and more. + + +Tune in from your local timezone: + + + + San Jose, California: Thursday, January 19, 2023, at 10:00 a.m. PST + + + London, England: Thursday, January 19, 2023, at 6:00 p.m. GMT + + + Bangalore, India: Thursday, January 19, 2023, at 11:30 p.m. IST + + + Sydney, Australia: Friday, January 20, 2023, at 5:00 a.m. AEDT + + + +Have a question in mind for our experts? Post it in the comments below now! + + + Join the Cisco Learning Network today for free. + + +Follow Cisco Learning & Certifications + + + Use #CiscoCert to join the conversation. + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 13 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2023 16:49:04 UTC. + + diff --git a/news/CSCO/2023.01.13/Judge Albright Grants Cisco's 12(c) Motion For Judgment On The Pleadings.txt b/news/CSCO/2023.01.13/Judge Albright Grants Cisco's 12(c) Motion For Judgment On The Pleadings.txt new file mode 100644 index 0000000000000000000000000000000000000000..a6888da427c29c5df75c915479dec81e18b58248 --- /dev/null +++ b/news/CSCO/2023.01.13/Judge Albright Grants Cisco's 12(c) Motion For Judgment On The Pleadings.txt @@ -0,0 +1,12 @@ +On April 14, 2022, plaintiff AK Meeting IP LLC (AK Meeting) filed its Amended Complaint, alleging that defendant Cisco Systems, Inc. (Cisco) infringed two of its patents related to a method and system for content sharing and communications between client computers in a computer network. Cisco then filed a 12(c) Motion for Judgment on the Pleadings on July 14, 2022.In response, AK Meeting filed its Second Amended Complaint (SAC). Cisco then filed another 12(c) Motion for Judgment on the Pleadings on October 22, 2022, asserting that the SAC failed to state a plausible claim for one of the patents, the '211 patent. Judge Albright granted Cisco's Motion on December 28, 2022.The court agreed with Cisco that AK Meeting had failed to state a plausible claim. In its SAC, AK Meeting alleged that Cisco's Webex Board connects to Webex Meetings using Webex Virtual Desktop Infrastructure (VDI); as a result, messages are transmitted between the Webex Board to a server using Webex VDI. In its Motion, Cisco contended that Webex Board cannot connect through Webex VDI, so AK Meeting's infringement allegations in the SAC failed.In its Response, AK Meeting alleged that the claims did not require a connection to a virtual desktop. But the court noted that by arguing the claims did not require a connection via virtual desktop, AK Meeting was rejecting the element that distinguished the SAC from earlier allegations, "which [AK Meeting] effectively conceded were deficient when it filed its SAC." Because AK Meeting failed to address Cisco's contention regarding the virtual desktop connection, the distinguishing element, the court granted Cisco's 12(c) Motion and dismissed the claims with respect to the '211 patent with prejudice.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Ms Marisa C. Thompson +Winston & Strawn LLP +35 West Wacker Drive +Chicago +IL 60601 +UNITED STATES +Tel: 3125585600 +Fax: 3125585700 +E-mail: awisinski@winston.com +URL: www.winston.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/CSCO/2023.01.16/Castellum, Inc. Announces Alan R. Lynn to Join Advisory Board.txt b/news/CSCO/2023.01.16/Castellum, Inc. Announces Alan R. Lynn to Join Advisory Board.txt new file mode 100644 index 0000000000000000000000000000000000000000..ee834a2f8f5cae861d4c6ab2bcbcc65c19775d00 --- /dev/null +++ b/news/CSCO/2023.01.16/Castellum, Inc. Announces Alan R. Lynn to Join Advisory Board.txt @@ -0,0 +1 @@ +POTOMAC, Md. - Castellum, Inc., Inc. (NYSE American: CTM) announces Alan 'Al' Lynn has joined the Company's Advisory Board. Castellum's Advisory Board seats experienced business leaders and senior cybersecurity / information technology (IT) executives with business, government, and technical expertise useful in fostering the growth of the Company.'Al is an incredible addition to the Castellum Advisory Board,' said Mark Fuller, CEO of Castellum. 'Al brings experience in technology innovation in a Fortune 50 company that opened new markets and expanded relationships with existing customers. He will work closely with senior management as we refine our strategic plan related to cyber and technology.'Al Lynn most recently worked at Cisco Systems where he was the Vice President of Engineering for Cisco's Emerging Technology and Incubations Group creating new inventions in software and hardware. Al retired as a US Army Lieutenant General with a distinguished military career with highlights that include serving as the Director of DISA, Commander JFHQ-DODIN for CYBERCOM, Commander of NETCOM, and Commander of SIGCoE and US Army Ft. Gordon along with experiences spanning the cyber and electronic warfare battlefields.Al received his BA from California University of Pennsylvania and his master's degree from the Industrial College of the Armed Forces.About Castellum, Inc.:Castellum, Inc. (NYSE American: CTM)?is a defense-oriented technology company which is executing strategic acquisitions in the cyber security, information technology and software, information warfare, and electronic warfare and engineering services space - http://castellumus.com/.Forward-Looking Statements:?This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.Contact:Mark FullerCEOE: info@castellumus.comT: 301-961-4895(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CSCO/2023.01.17/Cisco : Catalyst Switching Enterprise Agreements now support Cisco DNA Essentials!.txt b/news/CSCO/2023.01.17/Cisco : Catalyst Switching Enterprise Agreements now support Cisco DNA Essentials!.txt new file mode 100644 index 0000000000000000000000000000000000000000..e0c8868d62cd7a191158d2a011c0b5bf2f86edfb --- /dev/null +++ b/news/CSCO/2023.01.17/Cisco : Catalyst Switching Enterprise Agreements now support Cisco DNA Essentials!.txt @@ -0,0 +1,73 @@ + + + + The role of technology is more important in your business than ever to ensure that critical services are always running. Keeping pace with changing priorities in a dynamic environment is not easy, especially with a complex software landscape. Technology teams often must manage multiple contracts, which can be a complex activity. Cisco is helping alleviate this complexity with our Cisco Enterprise Agreement (EA), a multi-year contract with unified terms and conditions that helps you buy, consume, and manage Cisco technology across the software portfolio. + + + If you have a Catalyst Switching environment, you are familiar with our Cisco DNA Software solution that is part of the Networking Portfolio in an EA. We're announcing a change that will make our EAs even more flexible: you can now qualify for an Enterprise Agreement regardless of the mix of Cisco DNA Essentials and Advantage subscriptions in your network. If you're not ready to upgrade to the Cisco DNA Advantage tier but still want to gain the benefits of an EA, you can now do so. With a more flexible entry point, EAs keep pace with your business and can scale rapidly as your business changes. + + +Networking Portfolio Eligibility Requirements + + + The Cisco EA includes both Full Commit Suites, which require a minimum commitment and enterprise-wide coverage where applicable, and Partial Commit Suites, which have no minimum or enterprise-wide coverage requirement. To make an EA more accessible, we've lowered its minimum eligibility requirements by reducing the required commitment across an organization as follows: + + +Term minimum: 3-, 5-year terms as well as a 7-year term for most Network Infrastructure Suites +Contract value: $100,000 net at program level, after discount and pre-installed base credits at program level + + +Enterprise Agreement Benefits + + + Our Enterprise Agreement has numerous financial benefits, such as True Forward, Not-to-Exceed Pricing (NTE), value shift, and ramp: + + + + Unlike other enterprise license agreements requiring a "true-up" every year that charges you for past usage, the Cisco EA allows you to grow without a retroactive bill. Instead, your growth is reviewed against entitlement and included at the next True Forward event, where you pay only on a going-forward basis as part of your predictable billing period. + + + NTE guarantees price predictability for products purchased within an EA, for the entire term of the EA regardless of software price increases over time. + + + Value shift allows the residual value of under-consumed license value to be transferred to any overconsumed licenses within the same suite. + + + The ramp promotions allow you to "ramp" up to full enterprise coverage within a year-which translates into a set price adjustment. + + + + Beyond all the tangible financial benefits, an EA reduces complexity by substantially reducing the number of contracts. All the software in an EA is co-termed, so you don't have to worry about multiple renewal dates. With an EA, you will have full visibility into your Cisco entitlements through a single EA Workspace. + + + You may also qualify for a free Cisco DNA Center appliance in an EA: Learn more. + + +What's next? + + + We're not stopping at Catalyst Switching. We're taking a phased approach to include all license tiers in the Networking Portfolio in an EA. Essentials availability for Wireless, SD-WAN, Nexus Switching, and Meraki Infrastructure will be available in the next quarter, so stay tuned! + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 17 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2023 16:19:08 UTC. + + diff --git a/news/CSCO/2023.01.17/Safe-T Group Ltd. Shares Jump 12% YTD As Subsidiary Assets Earn Revenue-Generating Mome...txt b/news/CSCO/2023.01.17/Safe-T Group Ltd. Shares Jump 12% YTD As Subsidiary Assets Earn Revenue-Generating Mome...txt new file mode 100644 index 0000000000000000000000000000000000000000..68264290e98b06efb5e1905dbb5955a7ee7fda71 --- /dev/null +++ b/news/CSCO/2023.01.17/Safe-T Group Ltd. Shares Jump 12% YTD As Subsidiary Assets Earn Revenue-Generating Mome...txt @@ -0,0 +1 @@ +Safe-T Group Ltd. (NASDAQ, TASE: SFET) stock's consolidation period was relatively short-lived. In fact, the past few trading sessions have put the company stock firmly into rally territory, with shares posting a more than 12% increase since the start of the new year. That's not surprising to those following SFET, especially after its record-setting performance in Q3. The even greater news for those investing from a forward-looking perspective is that the momentum generated during the second half of 2022 shows no signs of slowing.On the contrary, revenues have been growing at an appreciable pace, and with aggressive cost-cutting over the past few quarters, the setup into Q4 and all of 2023 is for the bullish trend to continue.Video Link: https://www.youtube.com/embed/7fQeDbO2B80Strengthening Operational MomentumThat should be the case, noting that SFET is seeing business strengthening across the board. Last month, SFET announced that its wholly-owned subsidiary and enterprise privacy network unit, NetNut, looks better positioned than ever to seize enormous revenue-generating opportunities from current and prospective clients in the price comparison website (PCW) market. That sector presented an estimated $2.8 billion opportunity in 2019, according to a report published by DataINTELO research.But the better news for SFET and its investors is that analysts are expecting the market to become a more than $6 billion rev-gen opportunity by 2030. And with an expected CAGR of 8%, each year ahead adds significant and cumulative value to a market where SFET's assets are exceptionally positioned. In other words, SFET can get much bigger; and that can happen faster than many expect.That mission is already underway as SFET nurtures multiple revenue streams by taking advantage of its opportunities and offering best-in-class optimization solutions to diverse business segments needing innovative and client-specific cyber-security solutions. Those following company updates know that SFET has been more than just targeting opportunities; they are capturing them.Momentum Strengthens Into Q4For example, in Q3, SFET said that NetNut doubled its usage volume and processed over 36 billion customer requests over a comparative monthly period, attributed to the onboarding of several strategic customers that enhanced NetNut's network ability to process billions of requests compared to prior periods. While current run rates are impressive, additional growth to volume is likely in the queue. Further client acquisitions are expected to be a significant driver of that momentum, especially as more become acquainted with NetNut's ability to improve price comparison capabilities, provide users with seamless and competitive business analysis, and, most importantly, increase productivity.Keep in mind that NetNut isn't the only performing value driver. Revenue contributions from other products in its enterprise privacy solutions, consumer cyber-security and privacy solutions, and enterprise cyber-security solutions segments add to the company's steepening growth trajectory.SFET's first segment offers cybersecurity and privacy solutions for basic and advanced consumers, providing a substantial security blanket against ransomware, viruses, phishing, and other online threats. It also provides users with a robust, secure, and encrypted connection, masking their online activity and keeping them safe from hackers. A second segment, privacy solutions for enterprises, is powered by the world's fastest and most highly secured proxy network that enables customers to anonymously collect data at any scale from any public source over the web using a unique hybrid network. In addition, the SFET network comprises both entry and exit points based on its proprietary reflection technology, leveraging the power of hundreds of optimally designed servers located at ISP partners worldwide that help guarantee the service's privacy, quality, stability, and speed. There's more contributing to record-setting growth.A third value-driving asset targets business from clients needing enterprise cybersecurity solutions. This revenue stream is accretive through its global information securities provider, TerraZone Ltd. Designed for cloud, on-premises, and hybrid networks, these tailored solutions mitigate attacks on enterprises' business-critical services and sensitive data. They also ensure uninterrupted business continuity by protecting against unauthorized data access, storage and exchange breaches, and other threats from both within and outside the organization by utilizing a "validate first, access later" philosophy.Combined, these assets aren't just targeting diversified opportunities; they are actively capitalizing on them and delivering growth that less nimble industry giants like Rapid7, Inc. (NASDAQ: RPD), Palo Alto Networks (NASDAQ: PANW), and Cisco (NASDAQ: CSCO) will find hard to keep pace with. Evidence of that is in the quarterly results published.Nearing Two Years Of Consecutive Quarterly GrowthIn Q3, SFET reported impressive growth. In fact, it was record-setting. Specifically, comparative revenues surged by 42% to a record $4,812,000. For the nine-month, or YTD comparison, SFET revenues rose by 109% to $13,610,000, with results for both periods measured exceeding prior guidance. Just as crucial to topline growth is that SFET revenues are falling faster to the bottom line.Gross profit for the nine months surged by 143% to $7,360,000 over last year's comparable, and for the three months ending September 30, gross profit scored 47% higher than the previous year's period to reach $2,627,000. While impressive, SFET enters Q4 showing no signs of slowing. Thus, from a forward-looking perspective, even better results could be in the queue. Noting the aggressive reductions in non-accretive operating expenses, that bullish expectation is well-supported.Industry analysts within the sector appear to support that assumption as well, with two covering SFET modeling for a median 12-month price target of $5.50 - more than 103% higher than current levels. With only about 3.26 million shares outstanding, if SFET confirms in its imminent Q4 report that its growth trend is intact, reaching that target could happen sooner than later.Trading Ahead Of An Expected RallyConsidering that, trading ahead of Q4 results may be a wise and timely consideration. Remember, SFET has delivered consecutive growth over the past seven quarters. More importantly, they've provided evidence of entering 2023 better positioned than ever to keep that winning streak alive. In fact, revenue growth is strengthening across all of its segment channels, highlighted by updates pointing to organic growth and the ability to capitalize on strengthening market positions. That momentum is behind its enterprise privacy business turning profitable and scoring its own record-setting numbers.That's not all. Another subsidiary, CyberKick, is performing better than expected, fueling optimism that income from that asset could contribute appreciably more to revenue streams this year. Thus, the most prudent way to appraise SFET is not singularly but instead as a sum of its parts calculation. Appreciating the entirety of its assets, including having roughly $8.1 million in cash, which includes $4.3 million raised after Q3, exposes a value and investment proposition worth considering.Yes, there are big names in the sector, and yes, they offer specific solutions. But what's different about SFET is that they are nimble, an appreciable difference from large-cap competitors that may find it difficult to quickly reprogram to address cyber-threats that change almost daily. In that sense, being small has its advantages. And while SFET currently meets that description, a growth spurt is certainly not out of the question.In fact, that's happening now. Strategic initiatives, formidable assets, a strong balance sheet, and expert management all contribute to SFET's record revenues and strengthened bottom-line performance. With historical performance now an enviable precedent, the best news for SFET and its investors is that 2023 performance is expected to continue that trend and shatter recent records.Disclaimers: Shore Thing Media, LLC. (STM, Llc.) is responsible for the production and distribution of this content. STM, Llc. is not operated by a licensed broker, a dealer, or a registered investment adviser. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. Our reports/releases are a commercial advertisement and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The information made available by STM, Llc. is not intended to be, nor does it constitute, investment advice or recommendations. The contributors may buy and sell securities before and after any particular article, report and publication. In no event shall STM, Llc. be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or made available by STM, Llc., including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information in this video, article, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. STM, Llc. strongly urges you conduct a complete and independent investigation of the respective companies and consideration of all pertinent risks. Readers are advised to review SEC periodic reports: Forms 10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D. For some content, STM, Llc., its authors, contributors, or its agents, may be compensated for preparing research, video graphics, and editorial content. STM, LLC has been compensated up to ten-thousand-dollars cash via wire transfer by a third party to produce and syndicate content for Safe-T Group, Ltd.. for a period of five weeks. As part of that content, readers, subscribers, and website viewers, are expected to read the full disclaimers and financial disclosures statement that can be found on our website.The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled.Media ContactCompany Name: STM, LLC.Contact Person: Michael ThomasEmail: contact@primetimeprofiles.comPhone: 917-773-0072Country: United StatesWebsite: https://primetimeprofiles.com/.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/CSCO/2023.01.18/Cisco : Stay Ahead in Today's Job Market with Upskilling and Reskilling.txt b/news/CSCO/2023.01.18/Cisco : Stay Ahead in Today's Job Market with Upskilling and Reskilling.txt new file mode 100644 index 0000000000000000000000000000000000000000..1409d6600fa9f64336508b85efe39f41173047b6 --- /dev/null +++ b/news/CSCO/2023.01.18/Cisco : Stay Ahead in Today's Job Market with Upskilling and Reskilling.txt @@ -0,0 +1,70 @@ + + + + In today's ever-evolving job market, upskilling and reskilling have become essential to stay competitive, particularly in the technology industry, where advancements are happening rapidly. According to the Fall 2022 Deloitte CEO Survey, 71% of CEOs expect talent shortages to continue, and 58% are reskilling or upskilling their employees. One valuable resource to keep current in the industry is the Cisco U. Snack Minute video series. + + +Empower Your Career: Cisco U. Snack Minute Video Series + + + The Cisco U. Snack Minute video series has been around for two years and is hosted by Matt DeNapoli, Manager of Developer Advocacy, and Kareem Iskander, Lead Technical Advocate. Each episode is short, intuitive, and covers the latest learning resources and exciting projects that Matt, Kareem, and their guests are working on. + + + One fan of the series is Verlaine Muhungu from the Democratic Republic of Congo. Verlaine shared, "When Matt and Kareem promoted the first episode, 'Securing API Keys with HashiCorp Vault,' it was short and insightful. After watching several episodes, I fell in love with the concept." + + + When asked what keeps him coming back to watch each week, Verlaine said, "The Snack Minute demos inspire me to learn more and give a bird's-eye view of the industry with real-life scenarios." + + + He also shared that watching the series has helped him professionally and personally. "Every time I watch a Snack Minute video, my VScode and Linux CLI are always open. When I started my developer journey, interacting with APIs was difficult and strange. Watching different episodes encouraged me to start my technical writing journey, which led me to contribute to tech publications." + + + Verlaine also shared that he has implemented the information he learned from the series into his work. He said, "The last two years, I dedicated my learning and focus to automation. I am improving my understanding of APIs using the Cisco Postman Collection. I have some projects to release before the end of 2023!" + + + When asked how he feels the series compares to other technology or project-related content, Verlaine said, "The concept is unique, has short content, and is insightful. You don't need one hour to learn something new! Matt and Kareem are changing learning." + + +Cisco Learning Network + + + In the most recent episode of the Cisco U. Snack Minute video series, episode 86, Matt and Kareem interviewed Matt Saunders, Community Manager for the Cisco Learning Network (CLN). CLN is a social learning community focused on the IT industry and provides learning tools, training resources, and industry guidance for those interested in building an IT career. + + + The community is designed to provide a central location for individuals to come together and support each other in their learning and certification journey. The community is structured around Cisco learning and certification paths, such as CCNA, DevNet, Enterprise Networking, and Cyber Ops. The community offers a variety of resources for those looking to prepare for Cisco certification exams, including study guides, exam tutorials, and practice tests. + + + Take advantage of the opportunity to learn more about the Cisco Learning Network and the resources it offers to help you on your IT career journey by watching episode 86 of the Cisco U. Snack Minute video series on YouTube. + + + With the help of the Cisco U. Snack Minute video series and the Cisco Learning Network community, you can stay ahead in today's job market and empower your career. + + +In this interview, Matt Saunders, Community Manager for the Cisco Learning Network, shares his insights and experiences with the social learning community focused on the IT industry. Learn more about the mission of the Cisco Learning Network to provide learning tools, training resources, and industry guidance to anyone interested in building an IT career through Cisco certifications. Find out how to join the Cisco Learning Network and get access to certification preparation materials and other resources. + + +Resources + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 18 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 January 2023 16:39:05 UTC. + + diff --git a/news/CSCO/2023.01.19/Cisco : De-Carbing the Data Center.txt b/news/CSCO/2023.01.19/Cisco : De-Carbing the Data Center.txt new file mode 100644 index 0000000000000000000000000000000000000000..c4244af445210e080fada0bd2272a09784045b75 --- /dev/null +++ b/news/CSCO/2023.01.19/Cisco : De-Carbing the Data Center.txt @@ -0,0 +1,89 @@ + + + + The rallying cry of 2023 is de-carbing the data center … as in slimming down the emissions. Why now? Frankly, the stakes are higher than ever. Take California for example. The state swung wildly from mega-drought not seen in 1,200 years, to a 100-year flood at the start of the year (Source: New York Times). Inaction is not an option and climate change underscores why we need to address it head-on with a sense of urgency. + + + Partnering for Change + + + However, what I am excited about the most is that by partnering together, we can create an ecosystem with limitless impact. + + + Cisco and Hitachi Vantara have a unique track record of partnering together in deploying proven solutions to make an immediate impact for our customers. Together, we bring to bear our formidable joint portfolio of network, compute, and storage technologies to tackle the greatest challenge of our time. + + + De-Carbonizing the Data Center + + + Cisco is in alignment with Hitachi Vantara in our belief that Data Center Decarbonization is one of the most urgent areas companies are focusing on today. The data center is where we have, and will continue, to make the biggest impact in the short-term for our customers. In fact, Tom Christensen, Hitachi Vantara, says it best, "Carbon neutral data centers are a key part of IT's sustainability drive. More than 80% of the value-chain CO2 emissions of a converged platform is related to its use." + + + Where do we see the most impact in slimming down data center emissions? + + +Insights and Visibility + + + You can't fix what you can't see. At Hitachi and Cisco, we are harnessing data to inform decision making. + + + +Hitachi Carbon Insights Platform and Ops Center Clear Sight: Hitachi's tools and services provide information about the energy consumption across the fleet of storage products. Visibility is required before energy reduction is achieved using modern technology. + + +CiscoUnified Platform Experience: Cisco can help IT turn the network into an Energy Management control plane to optimize energy consumption, lower costs, minimize your carbon footprint, and monitor energy use to monitor energy networking with Nexus Cloud, DNS Spaces, Intersight, and Meraki amongst others. + + + +Buildings Systems: sustainable buildings + + + +Hitachi Energy: Green Data Center. Hitachi's eco-friendly infrastructure: moving to modern technology like the eco-friendly infrastructure can fundamentally change a company's green profile and lower the cost of running a data center. That's because the systems enable people to lower the amount of electricity needed and lessen the amount of floor space needed, each of which helps them lessen the amount of cooling required.Hitachi VSP storage continues to reduce CO2 emissions by 30% to 40% with each new product introduction. As a result, carbon emission has been reduced by 86% since 2014. Check out this case study where a global customer has reduced both energy and carbon emission by 96%: Decarbing the Data Center is Good for Business, Planet + + +Cisco: Energy Efficient Infrastructure: The migration to modern hardware built with circularity in mind and more efficient infrastructure models than previous generations have proven to reduce environmental footprints. Networking: The Nexus 9800 series in Cisco Lab tests was shown to be more than 59 times more energy efficient than the first generation of the Nexus 7000 series, and 1.6 times more efficient than the 400G GX-based Nexus 9500 series. Compute: The path to sustainability through modernization with Cisco UCS X-series from prior server generations can help reduce power consumption by up to 40-56% (based on various configurations), reduce the amount of hardware and raw materials, and a reduce operating costs + + + + By partnering together, we can do even more. State of the art converged infrastructure based on Cisco network, compute, and Hitachi storage is delivering the hybrid cloud platform for the workload challenges of today and beyond to meet our customers' sustainability goals in reducing emissions. + + + There's no better way to jump-start 2023 than by driving lasting change to slim down those data center emissions by jumping into this challenge together. The change starts with us - literally and figuratively. + + + Tom and I are eagerly looking forward to meeting you at Cisco Live Amsterdam (February 6-10th). Join Tom at his session, The Eco-friendly Data Center and Beyond, and myself and Jeremy Foster, SVP & GM, Cisco Networking - Compute, at our Accelerate your Journey to Net Zero with Cisco Solutions iTalk. + + + Let's do this. + + + We'd love to hear what you think. Ask a Question, Comment Below, and Stay Connected with #CiscoPartners on social! + + +Cisco Partners Facebook | @CiscoPartners Twitter | Cisco Partners LinkedIn + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 19 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2023 16:10:03 UTC. + + diff --git a/news/CSCO/2023.01.19/Cisco and Grand Duchy of Luxembourg Renew their Collaboration in Digital Transformation.txt b/news/CSCO/2023.01.19/Cisco and Grand Duchy of Luxembourg Renew their Collaboration in Digital Transformation.txt new file mode 100644 index 0000000000000000000000000000000000000000..724416e2fe06e77b45943db13d4e884d4fa9045d --- /dev/null +++ b/news/CSCO/2023.01.19/Cisco and Grand Duchy of Luxembourg Renew their Collaboration in Digital Transformation.txt @@ -0,0 +1 @@ +Cisco and Grand Duchy of Luxembourg Renew their Collaboration in Digital Transformation.Xavier Bettel, Prime Minister of the Grand Duchy of Luxembourg and Chuck Robbins, Chair and CEO of CiscoToday, at the World Economic Forum in Davos, Switzerland, Xavier Bettel, Prime Minister of the Grand Duchy of Luxembourg and Chuck Robbins, Chair and CEO of Cisco announced new initiatives to help accelerate digital transformation in Luxembourg. These will focus on three pillars; cybersecurity, talent development and education, and sustainability. As part of its Country Digital Acceleration (CDA) programme, Cisco will continue to support Digital Luxembourg, the Grand Duchy's long-term digitalization movement.'Since the start of our collaboration with Cisco in 2018, we have made great progress in addressing challenges like cybersecurity and digital education. Today, we have agreed to further develop these initiatives and embark on new areas. We intend to utilise Cisco's expertise in the field of sustainability to accelerate our Net Zero strategy. Reflecting upon the success of our first Country Digital Acceleration partnership with Cisco, I am confident that we will continue delivering on our joint objective to facilitate Luxembourg's country-wide digitalization', said Prime Minister Xavier Bettel.'Luxembourg's top position across various international rankings demonstrates the positive impact of digitization for their citizens and economy, and I am proud of Cisco's involvement. We both agree that developing Luxembourg's future workforce and safeguarding the security of critical infrastructure and core assets of the financial sector are critical to a successful digitization strategy. The past years have shown that Luxembourg is a globally connected economy, a testbed for innovation and a forward-thinking country. I thank the Prime Minister for his continued trust in Cisco', said Chuck Robbins.Highlights of the first phase of the Cisco Country Digital Acceleration programme in LuxembourgTalent development and education: contributing to the Grand-Duchy's Digital Skills Bridge Programme, six Cisco Networking Academies are operating in Luxembourg, and 2,100 students were certified during the first phase of CDA. In partnership with the University of Luxembourg, Cisco is accelerating innovation in education through the 'Collaboration 21' programme which aims to address challenges at the intersection of user experience, educational sciences and digital technologies.High performance computing (HPC): Cisco participated in the development of the Meluxina supercomputer at LuxProvide which will become one of the 50 best performing supercomputers in the world. Following Cisco's business model study, the HPC platform is now in production.Cybersecurity: programme for critical infrastructure security outlined; DNS protection services developed for all SMEs in Luxembourg.A photo of the meeting between Prime Minister Bettel and Chuck Robbins can be downloaded here.About CDACisco developed the concept of Country Digital Acceleration to stimulate global digitization. Cisco is collaborating with governments in 45 countries globally to strengthen digital research and education, stimulate digital entrepreneurship, accelerate innovation, develop new economic clusters and improve national infrastructure. Each CDA programme has been developed to meet the needs of the respective country. So far more than 1,500 projects have been launched on smarter transport, smart cities, eHealth and connected education. More information at https://newsroom.cisco.com/cda.About CiscoCisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Network and follow us on Twitter.Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.Press contactFactivityRafael TirmarcheM: +32 476 68 94 92E: rafael@factivity.be(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CSCO/2023.01.20/Cisco : Fiber@Home partners with Cisco to enable 5G-ready network across Bangladesh.txt b/news/CSCO/2023.01.20/Cisco : Fiber@Home partners with Cisco to enable 5G-ready network across Bangladesh.txt new file mode 100644 index 0000000000000000000000000000000000000000..f28f0f751befb4ce1ebf363d5a11e3d7e6d7dbc1 --- /dev/null +++ b/news/CSCO/2023.01.20/Cisco : Fiber@Home partners with Cisco to enable 5G-ready network across Bangladesh.txt @@ -0,0 +1,79 @@ + + +DHAKA, Bangladesh, January 19, 2023 - Fiber@Home Limited, the largest nationwide transport (transmission) service provider in Bangladesh, has partnered with Cisco (NASDAQ: CSCO) to accelerate the conversion of their network to 400G, enabling them to seamlessly deploy an automated transport 5G-ready network across Bangladesh and support increased bandwidth demand from businesses of all sizes. + + + Fiber@Home is using Cisco platforms for this expansion to enhance and optimize the overall customer experience, becoming the first customer in the country to adopt Cisco's Routed Optical Networking technology. + + + As the world continues to evolve digitally, Fiber@Home is witnessing disruptive growth and adopting new technology to more efficiently build and cost-effectively manage critical IP networking infrastructure, as well as support future innovations, including the evolution of enterprise services, 5G, and IoT. + + + Additionally, Fiber@Home aims to optimize its CapEx and OpEx by implementing new architectures on platforms ready for mass-scale networking and through automation. The company is focusing on deploying the Cisco® Network Services Orchestrator (NSO) software platform on its current network as a foundation for infrastructure programmability and automating operations and customer-facing services. + + + "This new 400G wavelength network will offer a fourfold increase in maximum data transfer speed compared to 100G, enabling Fiber@Home to provide stable critical connectivity to our customers. The Cisco Routed Optical Networking solution streamlines and strengthens our network capacity, providing a superior customer experience while also optimizing Fiber@Home's capex and opex utilization," said Moynul Haque Siddiqui, Chairman, Fiber@Home. + + + The upgrade to 400G will support the exponential demand for data in Bangladesh by both businesses and consumers, by converging Fiber@Home's IP and optical networks onto Cisco's unified platform. + + + In addition to increasing data transfer speed with this collaboration, Fiber@Home will have the unique ability to enhance capacity while reducing footprint and power for a lower carbon impact. The network modelling of the solution shows up to 40-45% power reduction and real estate optimization. With IOS XR7 modularity, programmability minimizes human intervention during set-up and operation, thus reducing onsite operations. Fewer truck rolls, fewer maintenance windows, less packaging, and more recycling will help Fiber@Home's achieve their CO2 emission goals without compromising on technological innovation. + + + "Visionary service providers like Fibre@Home recognize the value of a network that can be scaled in response to the dynamics needs of consumers and businesses. By converging their IP and optical networks, in addition to greater wavelength utilization, Fiber@Home will be able to optimize their power consumption, resulting in a much lower carbon impact, and streamline their hardware, leading to a reduction of 50% in operational costs. This partnership is a step towards bringing fast, reliable, and sustainable internet services to the people of Bangladesh," said, Anand Bhaskar, Managing Director, Service Provider Business, Cisco India & SAARC. + + +About Fiber@Home + + + Imagine a regular day without cellphones, cable TV or internet? Not possible. Fiber@Home plays a major part in the communications sector in Bangladesh in providing better services, especially Telecommunications. We build, develop, operate and maintain a nationwide optical fiber-based transmission backbone to enable a common connectivity platform for different service providers like mobile operators, cable TV operators, ISPs, etc., thus helping to create a Digital Bangladesh. This common infrastructure will use national resources optimally in the growing need of Information & Communication Technology and Telecommunication sector. + + + Fiber@Home has undertaken a project to cover Bangladesh by laying out optical fiber network with a view to facilitate the country's ever-expanding TELCO, ISP, PSTN, BWA (WiMax), and cable TV sector. Fiber@Home was duly awarded the NTTN (Nationwide Telecommunication Transmission Network) License from the BTRC on 7 January 2009. It is the first ever company to receive such a license in Bangladesh. For more information, go to https://www.fiberathome.net/ . + + +About Cisco + + + Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Network and follow us on Twitter at @Cisco. + + + Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. + + + Supporting resources: + + + For more information about Cisco Routed Optical Networking + + + For more information about Cisco service provider news and activities, visit the SP360 blog or follow us on Twitter @CiscoSP360 + + + Follow us on our LinkedIn page for targeted updates and announcements + + + Subscribe to Cisco's SP360 feed + + + RSS feed for Cisco: http://newsroom.cisco.com/rss-feeds + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 20 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2023 16:30:06 UTC. + + diff --git a/news/CSCO/2023.01.20/Cisco : Launch Your Cybersecurity Career with Cisco CyberOps Certifications | Part 1.txt b/news/CSCO/2023.01.20/Cisco : Launch Your Cybersecurity Career with Cisco CyberOps Certifications | Part 1.txt new file mode 100644 index 0000000000000000000000000000000000000000..441b0ed578db15827f64aeee4ca486f65c6a1e4c --- /dev/null +++ b/news/CSCO/2023.01.20/Cisco : Launch Your Cybersecurity Career with Cisco CyberOps Certifications | Part 1.txt @@ -0,0 +1,87 @@ + + + +This post was co-authored by Cisco Technical Education Content Developers Patrick Lao and Paul Ostrowski. + + +Every day, organizations worldwide contend with increasing malicious activity by criminal organizations and nation-state sponsored threat actors. There is a tremendous demand for security professionals who are trained to defend against these malicious threats. These professionals are the backbone of effective security teams. + + +When organizations build security teams to address sophisticated cyber threats, they typically begin by constructing a security operations center (SOC). Modern organizations rely on SOC teams to vigilantly monitor security systems, rapidly detect breaches, and quickly respond to and remediate security incidents. To succeed in these crucial tasks, SOCs are desperately seeking more qualified cybersecurity professionals. + + +Cisco CyberOps Certification Evolution + + + +In 2016, Cisco introduced the Global Cybersecurity Scholarship program to help close this cybersecurity skills gap. Alongside an investment of $10 million in the program to increase the pool of talent with critical cybersecurity proficiency, Cisco also introduced a new CCNA CyberOps certification to prepare candidates to begin a career working with associate-level cybersecurity analysts within SOCs. At the time, candidates had to pass two exams (SECFND + SECOPS) to earn this valuable certification. + + +In 2020, Cisco redesigned the certification requirements and introduced the one-exam CCNA certification. For example, to earn the CCNA CyberOps certification, candidates had to only pass the CBROPS exam. At the professional level, candidates still had to pass two exams: for CCNP CyberOps, those exams were and still are the CBRCOR core exam and the CBRFIR concentration exam. + + +In 2022, with the release of the new Cisco U. digital learning experience, the SOC Tier 1 Analyst learning pathwas introduced. The Cisco U. digital learning experience is built around the learner and the SOC Tier 1 Analyst learning path is specifically designed to ready learners for the SOC environment. With targeted quick-start pre-skill assessments, modular learning that addressed various aspects of the SOC experience, advanced search to refresh skills and topics, and a focus on goal setting, Cisco U. is designed to work for everyone's unique journey. + + +Cisco SOC Tier 1 Analyst Learning Path + + +The SOC Tier 1 analyst role is the entry-level position within the security operations center. The SOC Tier 1 analyst, or triage specialist, has sysadmin and scripting programming skills, as well as one or more relevant cybersecurity-related certifications, such as the Cisco Certified CyberOps Associate, Cisco Certified CyberOps Professional, or CCNA. To help grow the skills necessary to operate effectively as a SOC Tier 1 analyst, Cisco created the Security Operations Center (SOC) Tier 1 analyst Learning Path training. This learning path is a collection of courses designed to help learners master the concepts and tasks needed for the SOC Tier 1 analyst job role and functions as a roadmap, guiding learners and providing visibility into their mastery of necessary SOC analyst skills and concepts. + + +The goal of Cisco's SOC Tier 1 Analyst Learning Path training is to teach the fundamental skills required to begin a career working as an entry-level associate SOC analyst within a threat-centric security operations center. + + +The training explores common attack vectors, malicious activities, and patterns of suspicious behaviors typically encountered within a threat-centric security operation center. It includes videos, example scenarios, hands-on-labs, and knowledge assessments (review questions). As the student advances down the learning path, they will be exposed to the foundational concepts and practices behind a security operations center and will gain the tactical knowledge and skills that SOC teams require to effectively detect and respond to the growing numbers of cybersecurity threats. + + +Note: The SOC Tier 1 Analyst Learning Path consists of the CBROPScourse with some additional cyber security content, plus some CCNA Implementing and Administering Cisco Solutions 1.0content. + + +SOC Analyst Job Outlook + + +According to the U.S. Bureau of Labor Statistics, employment of information security analysts is projected to grow 33 percent from 2020 to 2030, much faster than the average for all occupations. + + +Cisco CyberOps certifications are designed to satisfy the actual needs of SOC teams. CCNA and CCNP certifications prepare individuals to pursue a career working as an analyst in the SOC and the different levels of certification are intended to develop the skills necessary for advancement. Below is a recent Cisco job posting for a SOC Cyber Security Analyst opening with the job position overview and responsibilities. Successfully completing the Cisco CCNA/CCNP Cyber Ops certifications fulfills many of the job requirements. + + + +What's Next? + + + Stay tuned for Part 2 in the upcoming weeks. In the meantime, check out this episode of the Cisco Learning Network Podcast with Cybersecurity and Collaboration Senior Manager James Risler, Getting Started with Your CyberOps Career and join the Cisco Learning Network's CyberOps Community to connect with other learners on their certification journey. + + + Join the Cisco Learning Network today for free. + + +Follow Cisco Learning & Certifications + + + Use #CiscoCert to join the conversation. + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 20 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2023 21:30:05 UTC. + + diff --git a/news/CSCO/2023.01.20/Cisco : See. Measure. Reduce. Building a sustainable practice with Cisco Customer Experien...txt b/news/CSCO/2023.01.20/Cisco : See. Measure. Reduce. Building a sustainable practice with Cisco Customer Experien...txt new file mode 100644 index 0000000000000000000000000000000000000000..7eddae975b57f308b310594c5e801a10d9e8e6c2 --- /dev/null +++ b/news/CSCO/2023.01.20/Cisco : See. Measure. Reduce. Building a sustainable practice with Cisco Customer Experien...txt @@ -0,0 +1,121 @@ + + + +Last fiscal year, Cisco set a goal to reach net zero across its value chain by 2040. As technical leads at Cisco, we share our thoughts on how CX can help our customers along their sustainability journey. + + +- Co-authored by Marisol Palmero, Esther Roure Vila, and Snezana Mitrovic + + + Sustainability is broadly recognized as not just an urgent need to combat climate change and protect the environment but also a business driver and digital transformation accelerator. As technical leads at Cisco who care deeply about the future of our planet, the first questions we asked were: + + +What do people mean when they talk about "sustainability"? +How do we ensure that the world continues to be a habitable place where people can thrive? + + + One of the earliest descriptions of sustainability comes from the 1987 Brundtland Report, which defined the concept as meeting "the needs of the present generation without compromising the ability of future generations to meet their needs." This understanding evolved further among global environmental leaders and advocates, who recognized that sustainability is an undertaking requiring interdependencies between people, planet and profit. In other words, in addition to economic growth, this approach focuses also on environmental and social needs while defining the governance required to determine accountability and execution throughout the process. + + + With the global community recognizing the need to collaborate across these dimensions to advance sustainability, the United Nations (UN) sought to clarify the specific outcomes we were aiming for. In 2015, the UN established 17 Sustainable Development Goals (SDGs). The 17 SDGs set forth a framework to build a better world for people and our planet by 2030 and are designed to be applied by governments and organizations worldwide. The success of the SDGs requires global cooperation and ambitious commitments-ideas that square with our own commitments to inclusivity and creating opportunity for all. + + + As a large worldwide corporation - with the purpose to power an inclusive future for all through technological innovation - Cisco has the potential to make an impact. Many of our environmental, social and governance (ESG) priorities align with the Sustainable Development Goals, and we hold ourselves accountable by setting public goals and reporting annually on our progress. With last summer's record-breaking temperatures hitting locations around the world, sustainability continues to be a priority for leaders in government and business. Several of the SDGs address these issues, including Goal 13: Climate Action - which focuses on how companies can develop sustainable practices to combat climate change and its impacts. + + + In September 2021, we set our most ambitious and important goal yet: to reach net zero across our value chain by 2040 by prioritizing deep emissions reductions across all scopes of emissions. As a team focused on customer experience, we can make a sizable impact driving these commitments. To understand how requires some explanation of how Greenhouse Gas Emissions (GHG) are measured. + + +The three scopes of company's GHG emissions + + + To make progress towards becoming net zero - which means a state where we add no incremental greenhouse gases to the atmosphere - organizations must address the three scopes of emissions defined by the Greenhouse Gas Protocol: + + + +Scope 1: Direct Emissions - These include emissions from the fuels that companies buy and burn within their operations. Examples are natural gas used to heat buildings, back-up generators that run on diesel, and gasoline used in company-owned vehicles. + + +Scope 2: Indirect emissions - These address emissions from the generation of purchased or acquired electricity, steam, heating, and cooling. + + +Scope 3: Value Chain - This includes indirect emissions that occur in the value chain of the company, such as employee business travel and commuting, transportation and distribution of products, supplier emissions, and use of products. Scope 3 emissions constitute approximately 75% of Cisco's total emissions, which include our customers' use of our routers, servers, or access points. (Ref.: Cisco Purpose Report 2021, page 75, chart 21) + + + + According to Cisco's commitment to Net Zero, we will reach net zero emissions across our value chain by 2040 by reducing our absolute Scope 1, 2, and 3 emissions by 90% compared to fiscal 2019 and neutralizing any remaining emissions by removing an equal amount from the atmosphere. + + + CX can make an impact on the "use of sold products" category within Scope 3 as we help customers make more efficient use of their solutions. Optimizing for Cisco's Scope 3 also helps our customers reduce their Scope 1 and 2 emissions. For instance, by designing our products to be more efficient when it comes to energy usage and cooling, our customers can reduce their energy consumption and resulting GHG emissions. Then, with the help of CX, customers can assess their environments and increase efficiencies further. This is how we create a virtuous cycle! + + +The role of Cisco CX + + + As members of Cisco's CX team, our job is to help our customers get to their business outcomes faster. This is why reducing Scope 3 emissions is an area where we can add significant value and make an impact. The first step for Cisco and our customers is to gain visibility into the emissions per scope in the enterprise and determine whether there are any interdependencies. You can only address what you can measure. + + +Energy usage measurement tailored to the customer + + + Often energy usage is only measuring the power required to turn on individual hardware. But it's important to measure how the device is being used, how other devices are using or impacting it, and the value that the device's usage is driving for the customer. + + + For example, when thinking about throughput, how do we report energy efficiency, per network device? How does adding encryption increase the power used for a networking device, and how useful is this for secure communication? Running a feature requires more power, but it's also important to evaluate whether doing so increases efficiency for the enterprise in a positive way. Each device is part of a larger solution, and products do not work in isolation - they work as an ecosystem designed to create business value. Sustainability does not have a one-size-fits-all solution, and trade-offs may need to be made based on customer needs. + + +Driving circularity through product lifecycle visibility + + + In addition to tailoring sustainability measurements to customers' specific needs and goals, CX also has a great vantage point into understanding how to address our products' lifecycles. + + + Sustainability is directly linked with the lifecycle of a product or solution. In a linear economy, a company mines raw materials that they then use to manufacture a product that is sold then discarded after use. In a circular economy, we maintain assets at their highest and best use for as long as possible. Instead of being thrown away, products are optimized to facilitate return, remanufacture, reuse, and recycling. A circular economy looks beyond the common "take-make-waste" model and aims to redefine growth by focusing on positive society-wide benefits. + + +Creating positive impact + + + Our team is positioned to help our customers innovate and use our products more sustainably, contribute to the overall circular economy, and find new ways of using technology to create a positive impact. Often, devices just sit there, consuming resources. We help find and create solutions that will help all our customers on their journey to net zero, which in turn benefits society at large. For example, Zero Touch Provisioning (ZTP) increases efficiency by reducing the number of manual tasks, the need for travel and overall time to market, which translates to reduced GHG emissions. Additionally, IoT sensors and Power over Ethernet (PoE) in smart building solutions are key to remotely monitoring critical infrastructure for temperature, humidity, water leaks, and even door access. They can improve uptime, reduce damage to business assets, and optimize power consumption. We believe that there are numerous opportunities to explore and pursue, and that Cisco CX can help you along this journey. + + +Defining, measuring, and advancing sustainability for our customers + + + There's much more that can be done. In upcoming blogs, we'll focus on how we believe our team can help Cisco's customers define and measure how efficiently they are using our products. As former U.S. President John F. Kennedy once said, "By defining our goal more clearly, by making it seem more manageable and less remote, we can help all people to see it, to draw hope from it, and to move irresistibly toward it." + + + Our team can provide a consultative approach, tailored to each customer's environment and needs. That includes power usage measurements through technologies like telemetry, artificial intelligence, and machine learning. With this data-driven intelligence available to customers around the world, we can help our increasingly digital future be more sustainable, inclusive, and resilient. + + +Join us at Cisco Live! EMEA to discover how CX can help you with your sustainability journey. + + +Register for one of our expert-led sessions: + + +Find out more about CISCO's commitment to net zero emissons by reading the 2022 Cisco Purpose Report + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 20 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 00:19:11 UTC. + + diff --git a/news/CSCO/2023.01.24/Ninety-two percent of organizations think they need to do more to reassure customers ab...txt b/news/CSCO/2023.01.24/Ninety-two percent of organizations think they need to do more to reassure customers ab...txt new file mode 100644 index 0000000000000000000000000000000000000000..c6247c90da946a20bb609fa2e3f78b728ef4836d --- /dev/null +++ b/news/CSCO/2023.01.24/Ninety-two percent of organizations think they need to do more to reassure customers ab...txt @@ -0,0 +1,37 @@ + + +News Summary +Cisco's 2023 Data Privacy Benchmark Study reveals that to build trust, organizations focus primarily on compliance, whereas consumers value transparency most. 92% of respondents say their organization needs to do more to reassure customers about how their data is used in AI.Organizations are getting a strong 1.8 times return on their privacy investments, with estimated benefits up significantly in the past year.90% of respondents believe global providers can better protect their data compared to local providers.The benchmark is an anonymous survey across 26 geographies* of more than 3100 security professionals familiar with data privacy.SAN JOSE, Calif., Jan. 24, 2023 /PRNewswire/ -- Today, Cisco published its 2023 Data Privacy Benchmark Study. The sixth annual global survey investigates professionals' perspectives on data privacy strategies. This year's study finds that despite a difficult economic environment, organizations continue to invest in privacy, with spending up significantly from $1.2 million just three years ago to $2.7 million this year. Yet, 92 percent of respondents believe their organization needs to do more to reassure customers about their data. The survey also finds that organizations' privacy priorities differ from those expressed by consumers. +Disconnect between consumers' expectations and organizations' privacy strategies The study finds a significant disconnect between data privacy measures by companies and what consumers expect from organizations, especially when it relates to how organizations apply and use Artificial Intelligence (AI). +The Cisco 2022 Consumer Privacy Survey showed 60 percent of consumers are concerned about how organizations apply and use AI today, and 65 percent already have lost trust in organizations over their AI practices. Consumers also said the top approach for making them more comfortable would be to provide opportunities for them to opt out of AI-based solutions. Yet, the privacy benchmark shows providing opt-out opportunities was selected least (22 percent) among the options organizations would put in place to reassure consumers. +"When it comes to earning and building trust, compliance is not enough," said Harvey Jang, Cisco Vice President and Chief Privacy Officer. Transparency was the top priority for consumers (39 percent) to trust companies, whilst organizations surveyed felt compliance was the number one priority for building customer trust (30 percent). +Even though 96 percent of organizations believe they have processes in place to meet the responsible and ethical standards that customers expect for AI-based solutions and services, 92 percent of respondents believe their organization needs to do more to reassure customers about their data. + +Privacy's return on investmentDespite a difficult economic environment, organizations continue to invest in privacy, with spending up from $1.2 million three years ago to $2.7 million this year. Over 70 percent of organizations surveyed indicated they were getting "significant" or "very significant" benefits from privacy investments, such as building trust with customers, reducing sales delays, or mitigating losses from data breaches. On average, organizations are getting benefits estimated to be 1.8 times spending, and 94 percent of all respondents indicated they believe the benefits of privacy outweigh the costs overall. +With privacy as a critical business priority, more organizations recognize that everyone across their organization plays a vital role in protecting data. This year, 95 percent of respondents said that "all of their employees" need to know how to protect data privacy.   +"An organization's approach to privacy impacts more than compliance," said Dev Stahlkopf, Cisco Executive Vice President and Chief Legal Officer. "Investment in privacy drives business value across sales, security, operations, and most importantly, trust." +Costs of data localization and greater trust in global providersPrivacy legislation plays an important role in enabling governments to hold organizations accountable for how they manage personal data, and 157 countries (up from 145 last year) now have privacy laws in place. Even though complying with these laws involves significant effort and cost, 79 percent of all corporate respondents said privacy laws have had a positive impact. +Although 88 percent of respondents believe their data would be safer if stored only within their country or region, research indicates this does not hold up once costs, security and other trade-offs are considered. Remarkably, 90 percent also said that a global provider, operating at scale, can better protect the data compared to local providers. + +Additional resources +Cisco 2023 Data Privacy Benchmark Study Infographic Blog - Privacy's impact continues to grow but more remains to be doneCisco 2022 Consumer Privacy Survey*Australia, Brazil, Canada, Chile, China, Columbia, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Malaysia, Mexico, Philippines, Saudi Arabia, Singapore, South Korea, Spain, Taiwan, Thailand, The Netherlands, UK, US, and Vietnam. +About Cisco +Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco. +Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. +  + + + + + + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/ninety-two-percent-of-organizations-think-they-need-to-do-more-to-reassure-customers-about-how-their-data-is-used-in-ai-new-cisco-research-finds-301729137.html +SOURCE Cisco Systems, Inc. + + diff --git a/news/CSCO/2023.01.25/Cisco : Frictionless Renewals for Partners with Cisco Lifecycle Advantage.txt b/news/CSCO/2023.01.25/Cisco : Frictionless Renewals for Partners with Cisco Lifecycle Advantage.txt new file mode 100644 index 0000000000000000000000000000000000000000..1e7efec7302b9a1d92b0c01cb15d5e8a2a6a9102 --- /dev/null +++ b/news/CSCO/2023.01.25/Cisco : Frictionless Renewals for Partners with Cisco Lifecycle Advantage.txt @@ -0,0 +1,73 @@ + + + + I lead the Cisco Digital Experience partner go-to-market for the Americas. One of our roles is to provide our partners with the tools they need to more successfully engage our mutual customers throughout the product lifecycle: from purchase to renewals. The main tool in our arsenal is Lifecycle Advantage, which serves up digital content that partners use to engage their customers in a more automated way. + + + This capability is especially important when it comes to helping partners close renewals. For many partners, the renewal business can be particularly difficult to scale. This is especially true with smaller customers, as many partners simply don't have the people to manually keep up with every customer's renewal opportunity. + + + With Lifecycle Advantage, Cisco automatically sends out co-branded partner notifications, informing customers of contracts and services that are expiring. Partners add in their own price quotes. Along with these notifications, Cisco also automatically sends recommended offerings based on customers' transaction history, helping partners to also upsell additional business. + + + Cisco sends these notifications out on behalf of our partners, as it's Cisco's view that the partner owns the account-maintaining the contractual and commercial relationship with the customer. When the renewal occurs, the partner receives full credit for selling the renewal. Many other vendors bypass the partner and interact directly with the customer, ultimately treating the partner more like an agent to justify a much smaller referral fee. + + + Automating eCommerce workflow with Commerce Automation eStorefronts + + + Previously, when it came time for the customer to purchase the renewal, the only option was to essentially request to purchase by clicking a button saying something like "notify partner to order". In other words, the payment step of the overall renewal workflow was still manual. + + + This all changed with Cisco's release of Commerce Automation eStorefronts, which is available to all Cisco partners as part of Lifecycle Advantage. Customers can now simply pay for the renewal-for instance, with a credit card-without any manual interaction with the partner. + + + If the partner has an eCommerce system, then the Commerce Automation eStorefront can connect through open APIs. For partners without an eCommerce system, Cisco has worked with a third-party vendor to bring partners a low-cost eCommerce system that only takes a few days to set up. + + + No matter which option partners choose, no money is exchanged through Cisco. Cisco is also not charging partners a fee to participate with Commerce Automation, nor any percentage of the transaction. And if the customer has a question, Cisco provides free, first-line support. + + + Lifting the operational burden + + + As a partner-first company, Cisco is committed to our partners' success. With this motivation in mind, Lifecycle Advantage with Commerce Automation lifts a huge operational burden off our partners' shoulders when it comes to selling and closing renewals. + + + All Cisco partners are welcome to explore how to improve their productivity and increase bandwidth to devote to selling. I encourage you to learn more about Lifecycle Advantage and Commerce Automation. + + + Connect and collaborate with Cisco experts and peers in the Lifecycle Advantage Partner Community. + + + Visit Cisco.com for videos, case studies and other materials to help you take advantage of all the resources available to help you serve your customers and grow your business. + + + We'd love to hear what you think. Ask a Question, Comment Below, and Stay Connected with #CiscoPartners on social! + + +Cisco Partners Facebook | @CiscoPartners Twitter | Cisco Partners LinkedIn + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 25 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2023 16:20:04 UTC. + + diff --git a/news/CSCO/2023.01.25/Cisco-Ninety-two percent of organizations think they need to do more to reassure custom...txt b/news/CSCO/2023.01.25/Cisco-Ninety-two percent of organizations think they need to do more to reassure custom...txt new file mode 100644 index 0000000000000000000000000000000000000000..68b476d13a2422429dc7e5d609d766ce673412e6 --- /dev/null +++ b/news/CSCO/2023.01.25/Cisco-Ninety-two percent of organizations think they need to do more to reassure custom...txt @@ -0,0 +1 @@ +Ninety-two percent of organizations think they need to do more to reassure customers about how their data is used in AI.Cisco's 2023 Data Privacy Benchmark Study reveals that to build trust, organizations focus primarily on compliance, whereas consumers value transparency most. 92% of respondents say their organization needs to do more to reassure customers about how their data is used in AI.Organizations are getting a strong 1.8 times return on their privacy investments, with estimated benefits up significantly in the past year.90% of respondents believe global providers can better protect their data compared to local providers.The benchmark is an anonymous survey across 26 geographies* of more than 3100 security professionals familiar with data privacy.Today, Cisco published its 2023 Data Privacy Benchmark Study. The sixth annual global survey investigates professionals' perspectives on data privacy strategies. This year's study finds that despite a difficult economic environment, organizations continue to invest in privacy, with spending up significantly from $1.2 million just three years ago to $2.7 million this year. Yet, 92 percent of respondents believe their organization needs to do more to reassure customers about their data. The survey also finds that organizations' privacy priorities differ with those expressed by consumers.Disconnect between consumers' expectations and organizations' privacy strategiesThe study finds a significant disconnect between data privacy measures by companies and what consumers expect from organizations, especially when it relates to how organizations apply and use Artificial Intelligence (AI).The Cisco 2022 Consumer Privacy Survey showed 60 percent of consumers are concerned about how organizations apply and use AI today, and 65 percent already have lost trust in organizations over their AI practices. Consumers also said the top approach for making them more comfortable would be to provide opportunities for them to opt out of AI-based solutions. Yet, the privacy benchmark shows providing opt-out opportunities was selected least (22 percent) among the options organizations would put in place to reassure consumers.'When it comes to earning and building trust, compliance is not enough,' said Harvey Jang, Cisco Vice President and Chief Privacy Officer. Transparency was the top priority for consumers (39 percent) to trust companies, whilst organizations surveyed felt compliance was the number one priority for building customer trust (30 percent).Even though 96 percent of organizations believe they have processes in place to meet the responsible and ethical standards that customers expect for AI-based solutions and services, 92 percent of respondents believe their organization needs to do more to reassure customers about their data.Privacy's return on investmentDespite a difficult economic environment, organizations continue to invest in privacy, with spending up from $1.2 million three years ago to $2.7 million this year. Over 70 percent of organizations surveyed indicated they were getting 'significant' or 'very significant' benefits from privacy investments, such as building trust with customers, reducing sales delays, or mitigating losses from data breaches. On average, organizations are getting benefits estimated to be 1.8 times spending, and 94 percent of all respondents indicated they believe the benefits of privacy outweigh the costs overall.With privacy as a critical business priority, more organizations recognize that everyone across their organization plays a vital role in protecting data. This year, 95 percent of respondents said that 'all of their employees' need to know how to protect data privacy.'An organization's approach to privacy impacts more than compliance,' said Dev Stahlkopf, Cisco Executive Vice President and Chief Legal Officer. 'Investment in privacy drives business value across sales, security, operations, and most importantly, trust.'Costs of data localization and greater trust in global providersPrivacy legislation plays an important role in enabling governments to hold organizations accountable for how they manage personal data, and 157 countries (up from 145 last year) now have privacy laws in place. Even though complying with these laws involves significant effort and cost, 79 percent of all corporate respondents said privacy laws have had a positive impact.Although 88 percent of respondents believe their data would be safer if stored only within their country or region, research indicates this does not hold up once costs, security and other trade-offs are considered. Remarkably, 90 percent also said that a global provider, operating at scale, can better protect the data compared to local providers.Cisco 2022 Consumer Privacy Survey*Australia, Brazil, Canada, Chile, China, Columbia, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Malaysia, Mexico, Philippines, Saudi Arabia, Singapore, South Korea, Spain, Taiwan, Thailand, The Netherlands, UK, US, and Vietnam.About CiscoCisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco.Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks.Media contactsLauriane GietPublic Relations+32 2 704 10 20lgiet@cisco.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CSCO/2023.01.25/D. Mass. Patent Litigation Update : December 2022.txt b/news/CSCO/2023.01.25/D. Mass. Patent Litigation Update : December 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..fdcf6753295fe83a0a64c166c3a7774275a59c05 --- /dev/null +++ b/news/CSCO/2023.01.25/D. Mass. Patent Litigation Update : December 2022.txt @@ -0,0 +1,12 @@ +This is part of a series of articles discussing recent orders of interest issued in patent cases by the United States District Court for the District of Massachusetts.In ACQIS, LLC v. EMC Corporation, No. 14-cv-13560, Judge Burroughs ordered supplemental briefing on EMC's motion for attorney fees because, while EMC had requested in camera review of its litigation expenses, it had not explained the basis for its request. The Court observed that, absent a request by all parties, it "generally disfavors in camera review of billing records to support a motion for fees as it deprives the opponent of an opportunity to object or otherwise respond." The Court then ordered EMC to provide "supplemental briefing with a detailed breakdown of time and costs, within 30 days," adding that Defendant may file an accompanying motion to seal "if it believes it is warranted." The Court gave ACQIS 14 days to respond to EMC's filings.In Egenera, Inc. v. Cisco Sys., Inc., No. 16-cv-11613, Judge Stearns denied Egenera's motion for judgment as a matter of law pursuant to Fed. R. Civ. P. 50(b) and Egenera's motion for a new trial pursuant to Fed. R. Civ. P. 59.Motion for Judgment as a Matter of LawAt trial, the jury found that Egenera failed to prove that Cisco's Unified Computing System ("UCS") product infringes two asserted claims. Egenera later argued it was entitled to judgment as a matter of law, contending the only basis upon which the jury could have found non-infringement was by improperly importing additional limitations into the claims.The Court disagreed, finding that the jury was properly instructed to compare the UCS product to the language of the claims themselves and not to consider the presence or absence of any additional features in assessing infringement. Additionally, the Court found ample basis in the record to support the jury's findings. The Court concluded that "[w]hile Egenera may have found this testimony unpersuasive rebuttal to the testimony of its own expert, the fact that the jury did not weigh the evidence as Egenera might have wished does not mean that the jury improperly imported additional limitations from outside the claim language."Motion for New TrialEgenera raised four arguments in support a new trial, all of which the Court rejected.Egenera argued that Cisco violated multiple MIL rulings during closing arguments. The Court evaluated Egenera's assertions for plain error because Egenera failed to object to the allegedly improper arguments during closing.First, the Court substantively rejected each of Egenera's alleged violations, finding that it "cannot say that any alleged error was plain."Next, the Court rejected Egenera's contention it was effectively precluded from objecting due to the Court's practice of disfavoring sidebars and/or by rules of professionalism and decorum. The Court noted that Egenera lodged objections at other times during trial. The Court also found that even if Egenera felt constrained to not interrupt mid-argument, that did not explain why Egenera did not raise its objections once counsel had finished closing.Egenera argued that Cisco elicited improper expert testimony from two of its lay witnesses, which argument the Court found Egenera waived by failing to object during examination. The Court observed that while it had denied Egenera's earlier motion to exclude these witnesses' opinions, it did not authorize the witnesses to offer expert opinions and thus the burden was on Egenera to lodge an appropriate objection at trial.The Court also found that Egenera failed to show prejudice resulting from the alleged improper testimony because Egenera opened the door by asking about one of the asserted patents.Egenera argued that the Court's decision not to include a jury instruction "explicitly stating that a product can infringe an earlier patent even if it is also covered by a later patent" left the jury "unaware that the existence of Cisco's own patents did not preclude or otherwise 'automatically negate infringement.'" The Court disagreed, finding the jury was sufficiently informed when instructed (1) "what mattered for infringement purposes was whether the product met all elements of the claims themselves (i.e., not whether it was subject to any other patents);" and (2) "the presence of additional features would not defeat a showing of infringement."Last, Egenera argued that the jury was prejudiced to a degree warranting a new trial when the Court made the statement during empanelment that "to infringe essentially means to copy without permission" and that the Court should have provided a curative jury instruction. The Court disagreed, finding a distinction between "introductory remarks made to the venire during the winnowing down of prospective jurors" and "formal instructions given to the actual jury once seated." The Court found it provided sufficient instructions once the jury was seated and sworn by instructing that "(1) nothing the court said or did during any phase of the trial should influence their ultimate decision on the merits; (2) what mattered for infringement purposes was whether the accused product met all elements of the claims themselves (i.e., not any preferred embodiment); and (3) a party could infringe a patent even if it did not know the patent existed."In JT IP Holding, LLC v. Florence, No. 20-cv-10433, Judge Talwani issued an order reminding the parties that the Court's Standing Order Regarding Motion Practice (link) requires, inter alia, submission of printed courtesy copies of certain motions and related papers. The Court then ordered counsel to "comply with this order as to all pending and any further motions."In SoClean, Inc. v. Sunset Healthcare Solutions, Inc., No. 20-cv-10351, Judge Talwani denied Sunset's motion to enforce a purported settlement agreement.SoClean brought two separate actions against Sunset alleging, inter alia, patent and trademark infringement. The actions were consolidated, mediation failed, and the consolidated action proceeded.Between October 2021 and February 2022, counsel for Sunset and then-counsel for SoClean engaged in settlement negotiations. It was undisputed that during a phone call on February 10, 2022, SoClean's then-counsel made a proposal of settlement terms, to which Sunset's counsel agreed, and that SoClean's then-counsel communicated that "any settlement would need to be subject to a final written settlement agreement, including approval by SoClean's board." On February 11, Sunset's counsel memorialized the agreed-upon terms in an email, and SoClean's then-counsel confirmed and stated that he would prepare a draft agreement. On March 2, SoClean's then-counsel reported that SoClean's board would not approve the settlement. Three weeks later, SoClean's then-counsel withdrew, and new counsel entered appearances for SoClean. On April 8, Sunset filed a motion to enforce the settlement agreement, to which SoClean opposed.The Court first rejected SoClean's argument that material settlement terms remained outstanding, instead finding that the February 11 email "appears to set forth all the material terms" that were the results of the "months-long settlement negotiations," during which "neither side brought up other key terms to be negotiated."However, the Court agreed with SoClean that its then-counsel lacked both actual and apparent authority to bind SoClean to a settlement agreement. As to actual authority, recognizing that "a general retainer, standing alone, does not permit an unauthorized attorney to settle claims on his client's behalf," the Court found no facts in the record "as to the authority given by SoClean" to its then-counsel. As to apparent authority, the Court found that the authority needs to be "established by conduct or representations between the principal and the third party." Finding "no manifestations of [SoClean]'s consent" to be bound, the Court concluded that Sunset cannot demonstrate apparent authority.In addition, the Court held that even if SoClean's then-counsel had the authority to bind SoClean, the settlement agreement would still be unenforceable because it "included a condition precedent of board approval," which was timely communicated to Sunset but was not satisfied.Accordingly, the Court denied Sunset's motion to enforce the settlement agreement.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Matthew C. Berntsen +Finnegan, Henderson, Farabow, Garrett & Dunner, LLP +901 New York Avenue, NW +Washington, DC +20001-4413 +UNITED STATES +Tel: 2024084000 +Fax: 2024084400 +E-mail: info@finnegan.com +URL: www.finnegan.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/CSCO/2023.01.25/Microsoft's dour outlook raises red flags for tech sector.txt b/news/CSCO/2023.01.25/Microsoft's dour outlook raises red flags for tech sector.txt new file mode 100644 index 0000000000000000000000000000000000000000..0e9b4efc2f021805892d09871a1465e381b4aeb7 --- /dev/null +++ b/news/CSCO/2023.01.25/Microsoft's dour outlook raises red flags for tech sector.txt @@ -0,0 +1 @@ +(Reuters) - Microsoft Corp's lackluster quarterly outlook points to more gloom ahead for the tech sector, analysts said, after the tech bellwether warned its customers were cautious about spending in a turbulent economy.   Microsoft, the second most valuable U.S. company, sounded a cautious note in its quarterly earnings report as a steep fall in client spending has sparked a series of high-profile layoffs in the tech industry.The company's Chief Executive Officer, Satya Nadella, and other Microsoft executives used the words "caution" and "cautious" at least six times on the one hour call on Tuesday. "Microsoft is the biggest bellwether for enterprise and cloud spending in the world. Nadella's comments about slowdown in the cloud is not surprising... It confirms a darker macro is in the horizon," said Dan Ives, analyst at Wedbush. "This is going to be a trend we see across the tech space, with management teams being conservative given the uncertain environment," Ives added.Nadella, however, said Microsoft would focus on AI technology, calling it the next major wave of computing.The tech giant has made multibillion dollar investments in OpenAI, deepening ties with the startup behind the chatbot sensation ChatGPT and building on a bet it made on AI four years ago.Analysts said the sharp slowdown in Microsoft's revenue growth was a "warning sign" for the tech sector, with more weakness at its PC division than the cloud business.  "What we learned is that no one is immune to macro... what is telling is the quarter was largely fine, but we started to see softness in December and the outlook for this quarter was worse than expected," said Rishi Jaluria, analyst at RBC. Microsoft forecast third-quarter revenue in its so-called intelligent cloud business a tad below analysts' estimates, with a growth rate of as much as 19%. It did, however, report better-than-expected second-quarter revenue for that segment, which initially pushed shares higher on Tuesday evening.Companies from Amazon.com Inc to Facebook-parent Meta Platforms are already preparing for tougher months ahead by slashing tens of thousands of jobs to keep their cash reserves high.Analysts expect the cash to be used for other investments, which could include fresh buybacks, mergers and acquisitions or new technology such as artificial intelligence.Microsoft's shares were down about 3% in pre-market trading on Wednesday. Shares of cloud companies including Alphabet Inc's Google, Amazon.com, Salesforce, Cisco and Workday Inc all declined.  (Reporting by Nivedita Balu and Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri)By Nivedita Balu and Tiyashi Datta \ No newline at end of file diff --git a/news/CSCO/2023.01.25/Safe-T Group Ltd. Rebrands As Alarum Technologies, Name Change Better Identifies Positi...txt b/news/CSCO/2023.01.25/Safe-T Group Ltd. Rebrands As Alarum Technologies, Name Change Better Identifies Positi...txt new file mode 100644 index 0000000000000000000000000000000000000000..d676e1babb5a99c98b3bbd83932281f1a2211bc9 --- /dev/null +++ b/news/CSCO/2023.01.25/Safe-T Group Ltd. Rebrands As Alarum Technologies, Name Change Better Identifies Positi...txt @@ -0,0 +1 @@ +Safe-T Group Ltd. has been busy on the business stage. And to better reflect its mission, the company announced a corporate rebranding to better reflect its position in a surging cybersecurity sector. Effective today, Safe-T Group Ltd. (NASDAQ: SFET) and its trading symbol will be identified as Alarum Technologies Ltd. (NASDAQ, TASE: ALAR) with the word "alarum" derived from the Latin word for "warning," which the company notes better reflects its corporate vision, core values, and commitment to providing advanced privacy and cybersecurity solutions.That commitment is already a mission in progress. Over the past 18 months, ALAR has laid the foundation to anchor its position as a market leader in cybersecurity and privacy solutions, leading to significant growth resulting from the increasing recognition by private and enterprise customers that choose the value-added benefits of its innovative client-specific solutions. While the name has changed, the focus hasn't, with ALAR intensifying its asset-supported mission to enable a secure network environment and protect organizations and individuals from privacy breaches and cyber-attacks.Cumulatively speaking, ALAR has achieved impressive milestones that set them up for what could be a breakout in 2023 as their enhanced privacy and cybersecurity provider solutions serve a growing number of enterprises and consumers worldwide. That optimistic presumption is warranted, supported by a string of quarterly revenue growth and strengthened bottom-line results that are outpacing peer competition and even several major players. Investors are taking notice.A Bullish Rally IntactSince the start of the year, ALAR shares have been higher by over 20%, with trading momentum over the past few sessions set up to assault levels not seen since December of 2022. In fact, a short consolidation period in the middle of January appears to have strengthened bullish sentiment, with higher-than-normal volume helping drive share prices 12% higher over the past six trading sessions. Still, those gains may be the precursor for better things, noting that ALAR's Q3 financials were more than impressive; they were record-setting. Better still, for those investing in growth, the momentum generated during the second half of 2022 shows no signs of slowing.Alarum management is bullish. They noted that business is strengthening across the board, recently announcing that its wholly-owned subsidiary and enterprise privacy network unit, NetNut, is ideally positioned to capitalize on potentially enormous revenue-generating opportunities from current and prospective clients in the price comparison website (PCW) market. That sector presented an estimated $2.8 billion opportunity in 2019, according to a report published by DataINTELO research.But the better news for ALAR, and investors, is that analysts expect the PCW market to become a more than $6 billion rev-gen opportunity by 2030. And with ALAR having the right assets to meet demand, tapping into the expected 8% CAGR along the way could yield considerable topline growth in the current and coming quarters.Although revenue increases can drive valuations higher, the even better news is that because of intense cost-cutting over the previous quarters, those revenues can fall faster to the bottom line, which could be why industry analysts model for ALAR shares to reach a median 12-month price target of $5.50 - more than 103% higher than current levels. With its Q4 results near and only about 3.26 million shares outstanding, ALAR shares may get the fuel needed from that report to extend the recent rally. Remember, while investors may respond well to another batch of expected record-setting results, the stock could get an additional punch from guidance into 2023, which is also likely to be bullish. More to the point, trading ahead of Q4 results may be a wise and timely consideration.Again, not an overly ambitious statement. Company updates indicate that ALAR hasn't only been targeting opportunities; they are actively seizing them.Subsidiary Strength Expediting GrowthThat's evidenced in Q3 with ALAR saying that wholly-owned subsidiary NetNut doubled its usage volume and processed over 36 billion customer requests over a comparative monthly period. That growth is attributed to the onboarding of several strategic customers that enhanced NetNut's network ability to process billions of requests compared to prior periods. While current run rates are impressive, additional growth to volume is likely in the queue, resulting from further client acquisitions expected after they become better acquainted with NetNut's ability to improve price comparison capabilities, provide users with seamless and competitive business analysis, and, most importantly, increase productivity.But when appraising ALAR, keep in mind that NetNut isn't the only performing value driver. Revenue contributions from other assets in its enterprise privacy solutions, consumer cyber-security and privacy solutions, and enterprise cyber-security solutions segments add to the company's steepening growth trajectory. Its first segment offers cybersecurity and privacy solutions for basic and advanced consumers, providing a substantial security blanket against ransomware, viruses, phishing, and other online threats. It also provides users with a robust, secure, and encrypted connection, masking their online activity and keeping them safe from hackers.A second segment, privacy solutions for enterprises, is powered by the world's fastest and most highly secured proxy network that enables customers to anonymously collect data at any scale from any public source over the web using a unique hybrid network. In addition, the ALAR network comprises both entry and exit points based on its proprietary reflection technology, leveraging the power of hundreds of optimally designed servers located at ISP partners worldwide that help guarantee the service's privacy, quality, stability, and speed. There's more contributing to record-setting growth.A third value-driving asset targets rev-gen initiatives from current and potential clients needing enterprise cybersecurity solutions. This revenue stream is accretive through its global information securities provider, TerraZone Ltd. Designed for cloud, on-premises, and hybrid networks, these tailored solutions mitigate attacks on enterprises' business-critical services and sensitive data. They also ensure uninterrupted business continuity by protecting data access and preventing threats from both within and outside the organization by utilizing a "validate first, access later" philosophy.As mentioned earlier, the great news is that these assets aren't just targeting diversified opportunities; they are capitalizing on them. Better yet, they are delivering growth that larger and often less nimble industry players like Rapid7, Inc. (NASDAQ: RPD), Palo Alto Networks (NASDAQ: PANW), and Cisco (NASDAQ: CSCO) will find hard to keep pace with. Evidence supporting that assumption is again in published quarterly results.Seven Consecutive Quarters Of GrowthIndeed, ALAR enjoyed record-setting growth in Q3, with comparative revenues surging by 42% to a record $4,812,000. ALAR revenues rose even more appreciably for the comparative nine months, surging by 109% to $13,610,000. Notably, results for both periods exceeded prior guidance, setting an excellent precedent for Q4 and EOY 2022 tallies. Still, while topline growth is attractive, how they impact the bottom line is also important. ALAR delivered in that respect as well.Gross profit for the nine months surged by 143% to $7,360,000 over last year's comparable, and for the three months ending September 30, gross profit scored 47% higher than the previous year's period to reach $2,627,000. While impressive, ALAR enters Q4 showing no signs of slowing. Thus, from a forward-looking perspective, even better results could be in the queue. And when noting the aggressive reductions in non-accretive operating expenses, that bullish expectation isn't just a presumption; it's probable.Being Proactive Instead Of ReactiveWith that in mind, trading proactively instead of reactionary ahead of Q4 results may be wise. After all, using precedent as a guide, ALAR has delivered consecutive growth over the past seven quarters. Just as importantly, they've provided evidence of entering 2023 better positioned than ever to keep that winning streak alive as revenues continue to increase across all of its segment channels. What's more, recent updates from ALAR point to further organic growth thanks to its ability to capitalize on strengthening market positions, which, by the way, is behind its enterprise privacy business turning profitable and scoring its own record-setting numbers.There's still more to like. CyberKick, another subsidiary, is performing better than expected, giving optimism that income from that asset could contribute appreciably more to revenue streams this year. Thus, considering its asset portfolio and contributions, the prudent way to appraise ALAR is not singularly but instead as a sum of its parts calculation. The entirety of its assets, including having roughly $8.1 million in cash, which includes $4.3 million raised after Q3, are the tangibles supporting the value and investment proposition.That proposition is more robust, noting strategic accretive initiatives, formidable assets, a strong balance sheet, and leveraging skills from expert management. And while that's plenty to support the bullish case, investors should keep in mind that record revenues and strengthened bottom-line performance are additional value drivers that can't and shouldn't be ignored. The rally in ALAR stock shows many investors aren't, which could prove that timing market moves may not be that difficult. Of course, seven consecutive quarters of revenue growth helps that proposition, a differentiation ALAR contributes to the consideration.Disclaimers: Shore Thing Media, LLC. (STM, Llc.) is responsible for the production and distribution of this content. 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STM, LLC has been compensated up to ten-thousand-dollars cash via wire transfer by a third party to produce and syndicate content for Safe-T Group, Ltd.. for a period of five weeks. As part of that content, readers, subscribers, and website viewers, are expected to read the full disclaimers and financial disclosures statement that can be found on our website.The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled.Media ContactCompany Name: STM, LLC.Contact Person: Michael ThomasEmail: contact@primetimeprofiles.comPhone: 917-773-0072Country: United StatesWebsite: https://primetimeprofiles.com/.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/CSCO/2023.01.25/Tech firms, Wall Street lead job cuts in corporate America.txt b/news/CSCO/2023.01.25/Tech firms, Wall Street lead job cuts in corporate America.txt new file mode 100644 index 0000000000000000000000000000000000000000..fd890bcdb7d35647563c0cadfba7f359ee7178e2 --- /dev/null +++ b/news/CSCO/2023.01.25/Tech firms, Wall Street lead job cuts in corporate America.txt @@ -0,0 +1,85 @@ +Feb 27 (Reuters) - Big Tech firms and Wall Street titans +are leading a string of layoffs across corporate America as +companies look to rein in costs to ride out a global economic +downturn.Rapid interest rate hikes and weak consumer demand have +forced firms such as Amazon, Walt Disney, Facebook-owner Meta +and American banks to trim their workforce.Tech companies shed more than 150,000 workers in 2022 amid a +rapidly fading pandemic-led demand boom, according to tracking +site Layoffs.fyi, and more layoffs are expected as growth in the +world's biggest economies slows.Here are some of the job cuts by major American companies +announced in recent weeks.TECHNOLOGY, MEDIA AND TELECOM SECTORIBM Corp:The software and consulting firm said it will lay off 3,900 +employees.Spotify Technology SA:Music streaming service Spotify is cutting 6% of its +workforce, or roughly 600 roles.Alphabet Inc:Alphabet Inc is eliminating 12,000 jobs, its chief executive +said in a staff memo.Microsoft Corp:The U.S. tech giant said it would cut 10,000 jobs by the end +of the third quarter of fiscal 2023.The company laid off under 1,000 employees across several +divisions in October, Axios reported, citing a source.Amazon.com Inc:The e-commerce giant said company-wide layoffs would impact +over 18,000 employees.Meta Platforms Inc:The Facebook-parent said it would cut 13% of its workforce, +or more than 11,000 employees, as it grapples with a weak +advertising market and mounting costs.Intel Corp:CEO Pat Gelsinger told Reuters "people actions" would be +part of a cost-reduction plan. The chipmaker said it would +reduce costs by $3 billion in 2023.Twitter Inc:The social media company has laid off at least 200 +employees, or about 10% of its workforce, the New York Times +reported. The layoffs come after Twitter terminated about 3,700 +people, representing about half of the total staff, in November, +soon after Elon Musk took over the firm.Lyft Inc:The ride-hailing firm said it would lay off 13% of its +workforce, or about 683 employees, after it already cut 60 jobs +earlier this year and froze hiring in September.Salesforce Inc:The software company said it would lay off about 10% of its +employees and close some offices as a part of its restructuring +plan, citing a challenging economy.Cisco Systems Inc:The networking and collaboration solutions company said it +will undertake restructuring which could impact roughly 5% of +its workforce. The effort will begin in the second quarter of +the fiscal year 2023 and cost the company $600 million.HP Inc:The computing devices maker said it expected to cut up to +6,000 jobs by the end of fiscal 2025.Workday Inc:The software company will cut roughly 500 jobs, or 3% of its +workforce, citing a challenging macroeconomic environment.NetApp Inc:The cloud firm announced an 8% reduction in its global +workforce. The company had 12,000 employees as of April 29, +2022.Rivian Automotive Inc:The company is laying off 6% of its workforce in an effort +to cut costs as the EV maker, already grappling with falling +cash reserves and a weak economy, braces for an industry-wide +price war.Match Group:The Tinder parent said it would lay off about 8% of its +workforce, a day after it forecast first-quarter revenue below +Wall Street expectations.Dell Technologies Inc:The company will eliminate about 6,650 jobs, or 5% of its +global workforce, as the PC maker grapples with falling demand +and braces for economic uncertainty.Palantir Technologies Inc:The data analytics firm said it had cut about 2% of its +workforce. Palantir, known for its work with the U.S. Central +Intelligence Agency, had 3,838 full-time employees as of Dec. +31, 2022.FINANCIAL SECTORGoldman Sachs Group Inc:Goldman Sachs began laying off staff on Jan. 11 in a +sweeping cost-cutting drive, with around a third of those +affected coming from the investment banking and global markets +division, a source familiar with the matter told Reuters.The job cuts are expected to be just over 3,000, one of the +sources said on Jan. 9, in what would be the biggest workforce +reduction for the bank since the financial crisis.Morgan Stanley:The Wall Street powerhouse is expected to start a fresh +round of layoffs globally in the coming weeks, Reuters reported +on Nov. 3, as dealmaking business takes a hit.Citigroup Inc:The bank eliminated dozens of jobs across its investment +banking division, as a dealmaking slump continues to weigh on +Wall Street's biggest banks, Bloomberg News reported.BlackRock Inc:The asset manager is cutting up to 500 jobs, Insider +reported, citing a memo.Genesis:The cryptocurrency firm has cut 30% of its workforce in a +second round of layoffs in less than six months, a person +familiar with the matter told Reuters.Coinbase Global:The cryptocurrency exchange said it would slash nearly 950 +jobs, the third round of workforce reduction in less than a year +after cryptocurrencies, already squeezed by rising interest +rates, came under renewed pressure following the collapse of +major exchange FTX.Stripe Inc:The digital payments firm is cutting its headcount by about +14% and will have about 7,000 employees after the layoffs, +according to an email to employees from the company's founders.CONSUMER AND RETAIL SECTORBeyond Meat Inc:The vegan meat maker said it plans to cut 200 jobs this +year, with the layoffs expected to save about $39 million.Blue Apron Holdings Inc:The online meal-kit company said it will cut about 10% of +its corporate workforce, as it looks to reduce costs and +streamline operations. The company had about 1,657 full-time +employees, as of Sept. 30.DoorDash Inc:The food delivery firm, which enjoyed a growth surge during +the pandemic, said it was reducing its corporate headcount by +about 1,250 employees.Bed Bath & Beyond:The retailer will lay off more employees this year in an +attempt to reduce costs. Last year, company executives had said +the home goods retailer was cutting about 20% of its corporate +and supply chain workforce.ENERGY AND RESOURCES SECTORDow Inc:The U.S. chemicals maker said it would cut about 2,000 jobs +as it navigates challenges including inflation and supply chain +disruptions.Phillips 66:The refiner reduced employee headcount by over 1,100 as it +seeks to meet its 2022 cost savings target of $500 million. The +reductions were communicated to employees in late October.HEALTH AND PHARMACEUTICAL SECTORJohnson & Johnson:The pharmaceutical giant has said it might cut some jobs +amid inflationary pressure and a strong dollar, with CFO Joseph +Wolk saying the healthcare conglomerate is looking at "right +sizing" itself.MANUFACTURING SECTOR3M Co:The industrial conglomerate said it would cut 2,500 +manufacturing jobs after reporting a lower profit. +(Reporting by Deborah Sophia in Bengaluru; Additional reporting +by Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik, +Sourasis Bose, Priyamvada C, Tiyashi Datta and Manya Saini; +Editing by Shinjini Ganguli, Shounak Dasgupta, Sriraj Kalluvila, +Vinay Dwivedi, Sonia Cheema and Maju Samuel) \ No newline at end of file diff --git a/news/CSCO/2023.01.26/Yellen lauds Ford's 100-year history in South Africa, flags more investments.txt b/news/CSCO/2023.01.26/Yellen lauds Ford's 100-year history in South Africa, flags more investments.txt new file mode 100644 index 0000000000000000000000000000000000000000..3ff2ab17f3abae461ad10be108126f22a834d686 --- /dev/null +++ b/news/CSCO/2023.01.26/Yellen lauds Ford's 100-year history in South Africa, flags more investments.txt @@ -0,0 +1 @@ +Yellen spoke at Ford's plant in Silverton, a suburb of Pretoria, during the third leg of her nearly two-week trip across the African continent, which also included stops in Senegal and Zambia. The plant, which employs 4,000 people, is an example of how deeper ties between the United States and Africa could produce good jobs and boost economic growth for both sides, Yellen told workers and company officials."Africa will shape the future of the global economy," she said. "We know that a thriving Africa is in the interest of the United States. A thriving Africa means a larger market for our goods and services. It means more investment opportunities for our businesses."Ford, a major U.S. investor in South Africa, is investing $1 billion to expand output at the plant there by 20%, adding 1,200 new jobs, and aims to develop a freight rail link with a seaport 700 miles (1,126.54 km) away.Yellen said other U.S. companies, including Cisco, General Electric, and Visa also planned big investments, attracted by expanding markets fueled by a demographic boom that will see Africa account for a quarter of the world's population by 2050.The U.S. Treasury chief said South Africa had been the biggest beneficiary of the African Growth and Opportunity Act, which grants eligible Sub-Saharan countries duty-free access to the U.S. market, but did not spell out what would happen when the legislation expires in 2025.Yellen said South Africa also had a role to play in U.S. efforts to shift supply chains away from over-reliance on China and other non-market economies to more like-minded countries, an approach she has dubbed "friendshoring." As in her comments to South Africa's finance minister earlier on Thursday, Yellen did not address South Africa's refusal to take sides over Russia's war in Ukraine or Washington's concern over military exercises it plans with China and Russia.The massive economic disruptions caused by the COVID-19 pandemic and Russia's war against Ukraine underscored the need for resilient supply chains, she said."We are addressing the over-concentration of the production of critical goods in certain markets -- particularly those that may not share our economic values," Yellen said. "To do so, we are deepening economic integration with the many countries that we can count on. That includes our many trusted trading partners on this continent -- like South Africa." (Reporting by Andrea Shalal; Editing by Tomasz Janowski)By Andrea Shalal \ No newline at end of file diff --git a/news/CSCO/2023.01.31/Cisco : Understanding Business Email Compromise to better protect against it.txt b/news/CSCO/2023.01.31/Cisco : Understanding Business Email Compromise to better protect against it.txt new file mode 100644 index 0000000000000000000000000000000000000000..23a2ee07fa78f93b9da984e2ce004ed421095cf4 --- /dev/null +++ b/news/CSCO/2023.01.31/Cisco : Understanding Business Email Compromise to better protect against it.txt @@ -0,0 +1,77 @@ + + + +What is business email compromise? + + + Imagine this: Your CEO sends you an email asking for your help transferring $5,000 to a new vendor for an urgent project. You make the transfer, only to find out later that the email was actually from an imposter, and that money is now in the hands of cybercriminals. Oops, right? crickets + + + Business Email Compromise (BEC) is a type of cybercrime that involves compromising or imitating legitimate business email accounts to carry out fraudulent transactions or steal sensitive information. The goal of a BEC attack is typically to trick the victim into transferring money, clicking on a malicious link, or disclosing sensitive information such as login credentials. BEC attacks can have a devastating impact on organizations of all sizes and in all industries, making it essential for businesses to be aware of the threat, understand the business risk, and take the necessary steps to protect themselves. + + + According to the latest FBI IC3 report, BEC is "one of the most financially damaging online crimes" and in 2021 was accountable for $2.4 Billion in adjusted losses for businesses and consumers. + + +How does BEC work? + + + One of the most common types of BEC attacks is called impersonating or email spoofing. By pretending to be a trusted colleague or business partner to gain the victim's trust, the attacker uses social engineering techniques to trick the victim into clicking on a link or attachment in an email that contains malware, takes the victim to a malicious website, and has them transfer funds or change payment information. + + + BEC attacks can be very sophisticated and are difficult to detect. Many times, what the end-user sees on their email client does not represent the true email address of that sender, or it shows one that has been spoofed. + + + Typically, the attacker tries to impersonate someone in the organization with enough authority to not be questioned about what he/she is asking to be done. + + +How can BEC attacks be prevented? + + + As with everything in security, to be able to succeed in stopping BEC attacks, additional security layers & techniques should be implemented. There are several options to mitigate or reduce the number of successful BEC attacks. Creating a list of the people who will be likely to be impersonated will provide the best results. Usually, with names from the CxO level, this is known as a High Impact Personnel list. It will be used along with other security analysis engines to make sure any impersonated/spoof emails, along with other threats, get stopped and will not reach the end user. + + + The Cisco Secure Email Threat Defense solution leverages hundreds of detection engines that utilize state-of-the-art artificial intelligence/machine learning and natural language processing to convict messages from the most creative attackers! On top of this, our customers can define their High Impact Personnel list, and together with the other detection engines, will be able to not only block malicious messages but also understand the reasons and categories of why a message is being convicted as malicious. + + + + In summary, Business Email Compromise (BEC) is a serious threat to organizations of all sizes and in all industries. To protect against BEC attacks, businesses should implement multiple techniques including identifying their High Impact Personnel for their organization, educating employees about the threat, and relying on reporting to understand who is being targeted most frequently so their security policies can be adjusted. + + + See how Secure Email Threat Defense identifies specific business risk factors to protect your organization. + + +We'd love to hear what you think. Ask a Question, Comment Below, and Stay Connected with Cisco Secure on social! + + +Cisco Secure Social Channels + + +Instagram +Facebook +Twitter +LinkedIn + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 31 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2023 13:17:04 UTC. + + diff --git a/news/CSCO/2023.01.31/Cisco Advances the Hybrid Work Experience with Audio and Interoperability Innovations.txt b/news/CSCO/2023.01.31/Cisco Advances the Hybrid Work Experience with Audio and Interoperability Innovations.txt new file mode 100644 index 0000000000000000000000000000000000000000..99ef0712ee763561934c5746bd2fd8b0c1562046 --- /dev/null +++ b/news/CSCO/2023.01.31/Cisco Advances the Hybrid Work Experience with Audio and Interoperability Innovations.txt @@ -0,0 +1,33 @@ + + +New innovations help organizations achieve a seamless hybrid work experience, including an industry-first partnership with Microsoft that runs Microsoft Teams natively on Cisco collaboration devices expected for certification in March 2023The new Cisco Table Microphone Pro introduces spatial audio and sophisticated noise cancellation to enable remarkably distraction-free, elevated sound in hybrid meetingsNew interoperability with third-party audio systems ensures frictionless collaboration across customers' preferred audio devicesSAN JOSE, Calif., Jan. 31, 2023 /PRNewswire/ -- Today at Integrated Systems Europe (ISE) 2023, Cisco (NASDAQ: CSCO) showcased its new range of collaboration devices for Microsoft Teams and unveiled the new Cisco Table Microphone Pro, a digital and multi-directional table microphone for hybrid workspaces, along with audio interoperability advancements. The innovations meet the needs of hybrid workers, delivering more inclusivity and choice for meetings, while improving the manageability, configuration, and security required by IT. + + + + + + + +"The future of work is now and it's hybrid, which requires a truly exceptional and inclusive experience that's not confined by location, device, or meeting platform," said Jeetu Patel, EVP and GM, Security & Collaboration, Cisco. "Cisco is bringing true audio intelligence to its best-in-class devices and software with interoperability, flexibility, and security." +Optimized workspaces with Cisco devices certified for Microsoft Teams Customers deserve more choice in how they do hybrid work, which is why Cisco and Microsoft partnered to bring more choice, flexibility, and capabilities to customers. The industry-first solution is available in beta now for enterprise customers and partners, and expected to be certified and available for Cisco Board Pro, Room Bar, and Room Kit Pro in March 2023. It will deliver immersive, intelligent, and inclusive meetings experiences to Microsoft Teams customers, leveraging Cisco's experience in designing award-winning, reliable, and secure video collaboration systems. +Cisco is the first vendor to offer devices with Microsoft Teams Rooms as the default experience with support to join Webex meetings with all the features and functionality customers enjoy today – without rebooting or reconfiguration by IT. Powered by the RoomOS and Microsoft Teams Rooms platform, mutual Cisco and Microsoft customers will benefit from the option to run fully-featured Microsoft Teams and Webex meetings natively on their Cisco devices, while leveraging advanced device management and analytics in Control Hub. +Cisco offers a comprehensive lineup of purpose-built video devices for all workspaces and collaboration scenarios. Additionally, the company offers a rich set of camera and audio intelligence capabilities available in the market today. Cisco collaboration devices to be certified for Microsoft Teams will include the Cisco Board Pro 55 and 75, Cisco Room Bar, Cisco Room Kit Pro, Cisco Room Kit EQ, Cisco Room Navigator, and Cisco Desk Pro, alongside remote work peripherals such as the Cisco Desk Camera 4K, the Cisco Headset 320 and the Headset 720. +New Cisco Table Microphone ProAn optimal meeting experience means all participants must be heard equally regardless of distance from a meeting device or background noise. Unlike standard microphones, the new Cisco Table Microphone Pro is multi-directional and achieves precisely this. Harnessing advanced audio intelligence capabilities, the microphone only picks up in-room participants' voices with high precision using four built-in microphone elements and offers advanced noise cancellation for a variety of workspaces – from huddle rooms to large conference rooms and custom AV deployments. Benefits of the Cisco Table Microphone Pro include: +Supreme audio quality for users: Sophisticated AI technology and multi-directional architecture help intelligently capture voices in meeting rooms and enables a spatial, true-to-life audio experience for remote meeting attendees. The microphone features a noise-cancelling hardware architecture and advanced audio processing while working seamlessly together with Cisco's industry-leading noise removal to enable remarkably distraction-free, elevated sound in hybrid meetings.Easy deployment and unified monitoring for IT: Powered by Ethernet connectivity, the Cisco Table Microphone Pro is simple to set up and scale, with a plug-and-play experience into Cisco video devices, such as the new Cisco Room Kit EQ or the Room Kit Pro. The microphone can be configured, customized, and monitored in Control Hub for effortless, centralized cloud management alongside other Cisco collaboration devices.Enhanced security: End-to-end encryption ensures security without the risk of exposing sensitive, confidential, or regulated interactions to the network.Enhanced Audio Interoperability Cisco works alongside an ever-growing ecosystem of hardware solution providers to ensure its collaboration devices work seamlessly with third-party offerings and peripherals. Doing so puts choice in the hands of customers – to work on their terms.  +Cisco is extending its video and device interoperability to enable frictionless, IP-based integration with third-party audio systems. This innovation brings robust support for the AES67 standard for reliable, low-latency audio interoperability, offering customers a cost-optimized and flexible integration with Cisco collaboration bars, room kits, and integrated room systems. Audio equipment manufacturer Shure is the first partner Cisco is supporting with seamless integration into the company's microphones, including the MXA920 Ceiling Array or MXA710 Linear Array.  +"The new generation of IP-based audio interoperability between Cisco and Shure provides flexibility and seamless collaboration to future-proof video conferencing environments and provide end users with world-class audio experiences," said Brian Woodland, Vice President of Global Business Development at Shure. "Customers invested in the Shure Microflex Ecosystem can leverage easy manageability, pristine quality, and plug-and-play compatibility with industry-leading Cisco video collaboration endpoints." +This Cisco Table Microphone Pro is generally available today for customers using the Cisco Room Kit EQ, Cisco Room Kit Pro, and Cisco Room Panorama. Additionally, it will support Cisco Room and Board Devices which are expected for certification for Microsoft Teams Rooms in March 2023. +About Cisco Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco.  +Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.  +About Webex by Cisco Webex is a leading provider of cloud-based collaboration solutions which includes video meetings, calling, messaging, events, polling, asynchronous video and customer experience solutions like contact center and purpose-built collaboration devices. Webex's focus on delivering inclusive collaboration experiences fuels our innovation, which leverages AI and Machine Learning, to remove the barriers of geography, language, personality and familiarity with technology. Its solutions are underpinned with security and privacy by design. Webex works with the world's leading business and productivity apps – delivered through a single application and interface. Learn more at webex.com.  + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cisco-advances-the-hybrid-work-experience-with-audio-and-interoperability-innovations-301734112.html +SOURCE Cisco Systems, Inc. + + diff --git a/news/CSCO/2023.02.01/Cisco Schedules Conference Call for Q2 Fiscal Year 2023 Financial Results.txt b/news/CSCO/2023.02.01/Cisco Schedules Conference Call for Q2 Fiscal Year 2023 Financial Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..d823f2bcc920ca851ac39905d37d0a2dc95e6833 --- /dev/null +++ b/news/CSCO/2023.02.01/Cisco Schedules Conference Call for Q2 Fiscal Year 2023 Financial Results.txt @@ -0,0 +1,38 @@ + + +SAN JOSE, Calif., Feb. 1, 2023 /PRNewswire/ -- Cisco has scheduled a conference call for Wednesday, February 15, 2023, at 1:30 PM (PT); 4:30 PM (ET) to announce its second quarter fiscal year 2023 financial results for the period ending Saturday, January 28, 2023. + + + + + + + +Financial results will be released over PR Newswire via US National and European Financial distribution, after the close of the market on Wednesday, February 15, 2023. +Cisco's quarterly earnings press release will be posted at https://newsroom.cisco.com.   +Date:Wednesday, February 15, 2023 +Time:1:30 PM (PT); 4:30 PM (ET) +To Listen via Telephone: 888-848-6507212-519-0847 (for International Callers) +RSVP:No RSVP is necessary +To Listen via the Internet: We are pleased to offer a live and replay audio broadcast of the conference call with corresponding slides at https://investor.cisco.com. +Replay: A telephone playback of the Q2 FY2023 conference call is scheduled to be available beginning at 4:00 PM (PT) on February 15, 2023, through 4:00 PM (PT) February 22, 2023.  The replay will be accessible by calling 866-361-4941 (International callers: 203-369-0189).  The call runs 24 hours/day, including weekends.  +An archived version of the webcast will be available on Cisco's Investor Relations website at https://investor.cisco.com. +About Cisco Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter. +Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. +Investor Relations Contact: +Press Contact: +Carol Villazon +Robyn Blum +Cisco +Cisco +(408) 527-6538 +(408) 853-9848 +carolv@cisco.com +rojenkin@cisco.com + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cisco-schedules-conference-call-for-q2-fiscal-year-2023-financial-results-301730669.html +SOURCE Cisco Systems, Inc. + + diff --git a/news/CSCO/2023.02.02/Cisco : Building a secure and scalable multi-cloud environment with Cisco Secure Firewall ...txt b/news/CSCO/2023.02.02/Cisco : Building a secure and scalable multi-cloud environment with Cisco Secure Firewall ...txt new file mode 100644 index 0000000000000000000000000000000000000000..e63f593a150df69b291802244041a00b9b402a9d --- /dev/null +++ b/news/CSCO/2023.02.02/Cisco : Building a secure and scalable multi-cloud environment with Cisco Secure Firewall ...txt @@ -0,0 +1,186 @@ + + + + In today's security climate, NetOps and SecOps teams are witnessing increased attack surface area as applications and workloads move far beyond the boundaries of their data center. These applications/workloads move to, and reside in multi-cloud architecture, adding complexity to connectivity, visibility, and control. In the multi-cloud world, the SecOps teams use a distributed security model that is expensive, difficult to deploy, and complex to manage. + + + Cisco has partnered with Alkira to help secure your multi-cloud environment. Combining Alkira's simplified cloud connection through their cloud network-as-a-service platform (SaaS-like model) with Cisco's industry-leading security controls, we can deliver a centralized security model for multi-cloud architecture that is easy to deploy, manage, and increases visibility and control. + + + Cisco Secure Firewall Threat Defense Virtual provides unmatched security controls such as stateful firewalling, Snort3 IPS, URL filtering, malware defense, application visibility and control, and more. Additionally, with the purchase of Secure Firewall Threat Defense Virtual, you will receive license entitlement to Cisco SecureX, our open XDR and orchestration platform, helping you accelerate threat detection, investigation, and remediation. + + + Cisco Secure Firewall Management Center (FMC) is required for managing Secure Firewall Threat Defense Virtual, helping administrators enforce consistent access policies, rapidly troubleshoot security events, and view summarized reports across the deployment. + + + Secure Firewall Threat Defense Virtual is available on Alkira's service marketplace through Bring-Your-Own-License (BYOL) and Pay-As-You-Go licensing options. Customers can seamlessly deploy and insert Secure Firewall in their Alkira Cloud Exchange Points (CXP). + + + Benefits of this integrated architecture include: + + + +Simplified network and security architecture: Leverage fully automated insertion and service-chaining of Secure Firewall in a centralized security model for a streamlined network and security architecture. + + +Deeper visibility and control in multi-cloud environments: Enjoy simplified firewall insertion in a centralized security model to achieve both north-south and east-west traffic inspection capability for multi-cloud environments. + + +Unified security policy: Uniformly enforce firewall security policy across on-premises, cloud, and multi-cloud environments. + + +Greater visibility: Cloud-agnostic security controls offer deeper visibility and control across all platforms + + +Auto-scale: Cisco Secure Firewall provides a flexible architecture that can automatically scale with the network load to meet demand. The auto-scaled firewall instance receives the configuration and licenses automatically (Cisco Secure Firewall Threat Defense auto-scale coming in Q2CY23). + + + + The Cisco Secure Firewall Threat Defense brings the following capabilities to the environment: + + + + Stateful Firewall Inspection + + + Application Visibility & Control + + + Next-Generation Intrusion Prevention System (IPS) + + + URL Filtering + + + Malware Defense + + + Encrypted Traffic Visibility + + + + Figure 1 shows a multi-cloud environment inter-connected using Alkira Cloud Exhange Platform (CXP). In the above architecture, Cisco provides seamless insertion of security controls and enables the following use cases for firewall insertion: + + + +Multicloud Security: Cisco Secure Firewall Threat Defense provides a centralized security model that enables better security controls, visibility, and network segmentation. This deployment offers north-south (N/S) and east-west (E/W) traffic inspection models. + + +Branch Security: Alkira Cloud Exchange Platform (CXP) connects branches and Cisco Secure Firewall Threat Defense protects N/S and E/W branch traffic. + + +Secure Internet Edge: Deployment of Cisco Secure Firewall inside CXP enables secure Internet edge for inbound and outbound Internet traffic. + + +Cloud DMZ: Enforce ingress firewall security policy for application traffic between remote users and Internet-facing applications deployed in the on-premises data centers or cloud environments. + + +Shared Application Services: Enforce firewall security policy for cross-segment application traffic in cases of business partner integration, mergers, acquisitions, and divestitures. + + + +Firewall Insertion made easy + + + Using Alkira's customer portal, Cisco Secure Firewall Threat Defense Virtual can be easily inserted in the traffic path within minutes. Figure 2 shows how automation & orchestration eliminates additional configuration required in the legacy insertion model. + + +Management Options + + + Cisco Secure Firewall Threat Defense Virtual is managed using Cisco Secure Firewall Management Center (FMC). Customers can use on-premises FMC or build a virtual FMC instance in the cloud. Cisco and Alkira support both models of deployment. + + +Insertion models + + + Cisco Secure Firewall Threat Defense Virtual protects the following traffic flows in Alkira CXP: + + + + Cloud to cloud (intra & Inter-cloud) + + + Cloud to on-premises + + + Cloud to Internet + + + On-premises to cloud + + + On-premises to Internet + + + Internet to on-premises + + + Branch to branch + + + Branch to Internet + + + Internet to branch + + + + Alkira and Cisco's partnership simplifies the deployment of enterprise-grade security in the cloud while enabling multi-cloud visibility and end-to-end threat defense for customers. + + + Additional Resources: + + +Cisco Secure Firewall Threat Defense + + +Cisco Secure Firewall Data Sheet + + +Cisco Secure Firewall Management Center + + +Alkira + + +Alkira Service Marketplace + + +Alkira blog on Cisco Secure Firewall Threat Defense + + +We'd love to hear what you think. Ask a Question, Comment Below, and Stay Connected with Cisco Secure on social! + + +Cisco Secure Social Channels + + +Instagram +Facebook +Twitter +LinkedIn + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 02 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 February 2023 13:10:01 UTC. + + diff --git "a/news/CSCO/2023.02.02/Cisco : Oferta P\303\272blica de Distribui\303\247\303\243o de a\303\247\303\265es reservada a trabalhadores da Cisco Systems...txt" "b/news/CSCO/2023.02.02/Cisco : Oferta P\303\272blica de Distribui\303\247\303\243o de a\303\247\303\265es reservada a trabalhadores da Cisco Systems...txt" new file mode 100644 index 0000000000000000000000000000000000000000..b40d53564a1b8d418df8e0027d496575edc4dce8 --- /dev/null +++ "b/news/CSCO/2023.02.02/Cisco : Oferta P\303\272blica de Distribui\303\247\303\243o de a\303\247\303\265es reservada a trabalhadores da Cisco Systems...txt" @@ -0,0 +1,308 @@ + + + + CISCO SYSTEMS, INC. + + + 170 West Tasman Drive + + + San Jose, California, 95134-1706, U.S.A. + + + + + + For the purposes of Article 127 of the Portuguese + + + + + Vem nos termos e para os efeitos do Artigo 127.º do + + + + + + + Securities Code, it is hereby made public + + + + + Código dos Valores Mobiliários, proceder à + + + + + + + ANNOUNCEMENT OF OFFER RESULTS + + + + + DIVULGAÇÃO DO RESULTADO DA + + + + + + + + + OFERTA + + + + + + + In the context of the public offer of the Cisco + + + + + + + + + Systems, Inc. Employee Stock Purchase Plan (the + + + + + Relativamente à oferta designada por "Plano + + + + + + + "ESPP"), exclusively addressed to eligible + + + + + Aquisição de Ações pelos Trabalhadores ("ESPP"), + + + + + + + employees of certain Cisco Systems, Inc.'s + + + + + reservada a trabalhadores de certas sociedades + + + + + + + subsidiaries in the European Economic Area, Cisco + + + + + subsidiárias da Cisco Systems, Inc. com sede no + + + + + + + Systems, Inc. ("Cisco") wishes to inform of the + + + + + Espaço Económico Europeu, a Cisco Systems, Inc. + + + + + + + results of an offer that occurred in Portugal pursuant + + + + + ("Cisco") informa que os resultados da oferta + + + + + + + to prospectus No. 18-496 (the "Prospectus") that + + + + + realizada em Portugal, na sequência da notificação, + + + + + + + was passported into Portugal on or around October + + + + + cerca do dia 29 de Outubro de 2018, do prospecto + + + + + + + 29, 2018. + + + + + No. 18-496 (o "Prospecto"): + + + + + + + During the six-month offer period beginning 1st July + + + + + Durante o período de seis meses da oferta, que se + + + + + + + 2022 and ending 31st December 2022, a total of + + + + + iniciou a 1st Julho 2022 e terminou a 31st + + + + + + + 25,871 shares of Cisco's common stock were + + + + + Dezembro 2022, um total de 25,871 acções da + + + + + + + purchased under the ESPP in Portugal by eligible + + + + + Cisco, foram adquiridas no âmbito do IESPP, em + + + + + + + employees of Cisco's subsidiaries in Portugal at a + + + + + Portugal, por trabalhadores elegíveis das + + + + + + + price of USD 36.21 per share, for total consideration + + + + + subsidiárias da Cisco em Portugal, a um preço de + + + + + + + of USD 936,788.91. + + + + + $36.21 por ação, num total de 936,788.91USD. + + + + + + + 31st January 2023 + + + + + 31st Janeiro 2023 + + + + + + + CISCO SYSTEMS, INC. + + + + + CISCO SYSTEMS, INC. + + + + + + + + + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 02 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 February 2023 15:00:00 UTC. + + diff --git a/news/CSCO/2023.02.02/Cisco And Mercy Corps : Cultivating climate adaptation and resilience in Kenya.txt b/news/CSCO/2023.02.02/Cisco And Mercy Corps : Cultivating climate adaptation and resilience in Kenya.txt new file mode 100644 index 0000000000000000000000000000000000000000..ee96e26d2e6d60d2f020ed725c52f82fe3fee33d --- /dev/null +++ b/news/CSCO/2023.02.02/Cisco And Mercy Corps : Cultivating climate adaptation and resilience in Kenya.txt @@ -0,0 +1,82 @@ + + + + Cisco and Mercy Corps recently completed a five-year Technology for Impact partnership centered on delivering humanitarian aid and development assistance faster, better and to more people around the world by accelerating digital solutions. There's a lot to celebrate and reflect on, especially as we center our energy on our new partnership focused on fostering climate adaptation and resilience in the Horn of Africa. + + + Below is a conversation I had recently with Carolyn Florey, Senior Director of Mercy Corps' Technology for Development Team, reflecting on our transformational partnership, and looking forward to what's next. + + +Carolyn: Mercy Corps and Cisco have been partnering for 15 years! Our most recent five-year Technology for Impact partnership reached more than 12 million people across 45 countries, and it has also influenced the broader humanitarian and development sector, and Mercy Corps' capacity as an organization. What results are you most proud of? + + +Erin: I have loved seeing the programs evolve over the years - from the earliest proof of concepts and pilots, to some initiatives being replicated across other regions and scaled across the organization. The benefit of a multi-year partnership is that it has afforded us the time to test solutions, to pivot and adapt when things don't go as planned, and to scale initiatives that gained traction and had an impact. In many cases, we have identified new applications and opportunities to apply these solutions to challenges we hadn't even anticipated at the partnership's outset. When COVID-19 hit in 2020, for example, we saw how critical technology solutions were to continue supporting vulnerable populations. Mercy Corps was well positioned to respond, leveraging our work building digital communities to deliver trusted and reliable information on COVID-19, and our initiatives to digitize cash and vouchers to deliver cash assistance quicker and more efficiently to those in dire need. + + + We see our funding as catalytic, so it has been gratifying to see this borne out by our Technology for Impact partnership. Our support has allowed Mercy Corps to invest in its people, tools, and tech-based programming to drive greater efficiency and impact. In doing so, Mercy Corps has been able to demonstrate the value of this support, resulting in greater institutional investment, additional funding and new partnerships that have helped further scale these efforts. It's incredible to see Cisco-supported technology initiatives now embedded in 116 Mercy Corps programs in 45 countries! + + +Erin: How about you, Carolyn? Which initiatives do you feel have especially moved the needle for Mercy Corps' work? + + +Carolyn: The Technology for Impact partnership was incredibly unique in that it touched everything from operations to innovation. You used the word "catalytic" to describe Cisco's funding - and it has truly been a catalyst for improving how Mercy Corps operates as an organization. Our monitoring and evaluation (MEL) work is a strong example of this. As humanitarians, we work in very complex and fragile environments. These include communities experiencing conflict from armed groups, acute hunger, and much uncertainty. Program monitoring and evaluating is essential to the success of our work, because it allows us to understand if our programs are creating the intended impact we seek, and truly supporting people in rapidly evolving situations. Digitizing and automating our MEL processes has been a game changer for our program teams, allowing us to have a richer, more complete understanding of our programs' impact much faster. + + +Carolyn: In what ways are you hoping to see the partnership build on its successes and learnings as we focus on one of the most pressing issues we collectively face: climate change? + + +Erin: I believe there is a direct link between climate change and humanitarian crises. We know that communities in low-income countries are disproportionately affected by climate change and lack the resources to adapt and respond to an increasing number of crises that can be exacerbated by climate change, such as floods and drought. Mercy Corps' new 10-year Pathway to Possibility strategy, centered around building resilient communities, resonated with Cisco and mirrored our increased focus on addressing climate change and building resilience. + + + Mercy Corps works on some of today's toughest challenges, with communities that are at the forefront of the climate crisis. Over the course of our Technology for Impact partnership, Mercy Corps has tested, adapted, and applied innovative technology solutions to improve the way they deliver aid. It therefore made sense that we expanded our partnership, building on what we've learned and developed, and see how we can apply this approach and technology to help communities adapt and build resilience to their changing environments. I'm hoping that, as with our Technology for Impact partnership, we will be able to leverage the activities and technologies from our work in the Horn of Africa, and apply these to other regions and communities similarly affected by climate change. + + +Erin: Carolyn, I'd love to hear your perspective on this. How do you see technology playing a role in Mercy Corps' climate resilience work? + + +Carolyn: There are multiple ways our existing work can be expanded and adapted to build climate resilience. For example, we can combine digital cash payments with our crisis analysis work to make automatic payments in advance of severe weather. We can provide digital early warning alerts before these crises occur, and also digital information afterwards so that the communities we work with have the information they need to access services and support. Technology opens the door for us to build and achieve climate resilience from multiple angles, many of which are already reflected in our work. + + + In Kenya, through our new partnership with Cisco, we are increasing the uptake and use of digital information services and tools among key decision-makers so they can make data-informed decisions to combat the effects of climate change - which in Kenya, looks like severe drought. We see potential in scaling this approach to the broader Horn of Africa region and beyond. + + +Carolyn: We recently had the opportunity to visit Wajir, Kenya together and see some of our climate adaptation programming in action. What were some highlights of that experience for you? + + +Erin: The highlight of these visits is always meeting the people: the local Mercy Corps team, their government and community partners, and probably most important, the agropastoralists, whose lives and livelihoods are most impacted by climate change. It was incredibly moving to see the drought firsthand, and to listen to the stories and perspectives of those affected. While in some ways disheartening, it was also inspiring to see the many ways in which Mercy Corps is partnering with these communities to adapt to their changing environment, and innovate to improve their livelihoods. + + + Another highlight (for the experience, not necessarily the taste): trying warm camel milk, a Wajir staple! + + +Carolyn: Combating climate change might be the most important challenge of our lifetime, and one that obviously can't be solved by one organization alone. How is Cisco addressing climate change? What role do you think these partnerships play in tackling global issues? + + +Erin: Cisco's purpose is to "Power an Inclusive Future for All" - and that also means by and with all. Collaboration with partners large and small, global and local, has always been part of our approach to driving lasting and systemic change. One area where Cisco has the potential to make a meaningful impact is with our customers. How can we help them use our products and solutions to reduce their environmental footprint and achieve their sustainability goals? We are working to reduce the energy consumption of our products, and build them using circular design principles that can extend their life cycle and reduce the amount of materials they require. But beyond that, we will continue to look at how we can continue to partner with organizations like Mercy Corps - because we have seen that when we combine the strength of the humanitarian sector's expertise with our core competencies in technology and connectivity, we can have a deeper and longer-lasting impact. + + +Note: Photos courtesy of Mercy Corps + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 02 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 February 2023 14:10:25 UTC. + + diff --git a/news/CSCO/2023.02.02/Clarity And Transparency : How to Build Trust for Zero Trust.txt b/news/CSCO/2023.02.02/Clarity And Transparency : How to Build Trust for Zero Trust.txt new file mode 100644 index 0000000000000000000000000000000000000000..dff902334179bc663be6438d457f76c768b1b788 --- /dev/null +++ b/news/CSCO/2023.02.02/Clarity And Transparency : How to Build Trust for Zero Trust.txt @@ -0,0 +1,137 @@ + + + +Be impeccable with your words. It's the first of the Four Agreements - a set of universal life principles outlined in the bestselling book by Don Miguel Ruiz. 'Being impeccable with your words' is my favorite, and it's no surprise. As a product marketer, I spend most of my daily existence casting about for the perfect word to use in web copy, a webinar, or video script. + + +Words can connect us, as well as divide us. In helping to develop the message that Cisco takes to the market about zero trust, I try to be as impeccable as I can with each word. After all, cybersecurity is too important to be cavalier about what is possible - within a particular use case, product, or service. + + +Clarifying what zero trust means to you comes first. The zero trust principles reflect another of the four agreements: 'Don't make assumptions'. Don't assume that a user or device is trusted based on their presence on the network, their type of device, or any other aspect of the connection request. Instead, verify it. + + + At the same time, don't assume that everyone in your organization is in accord with, or clear on the goals of a zero trust initiative. Confirm goals and clearly communicate them. Over the past year, I've met with several customers keen to embark on zero trust and generally those goals involve one or more of the following: + + + +Modernizing user access - secure remote access for users to SaaS-based, and private, on-premises apps + + +Assessing and validating device health - increase visibility into device posture and using this data to make a policy decision (e.g., prompt users to self-remediate before getting access) + + +Accelerating cloud migration - accurately enforce micro-segmentation across your entire application landscape - at scale + + +Orchestrating SOC workflows - gain actionable insights to automate threat response across networks, cloud, endpoints, email, and applications + + +Securing mixed environments consistently apply a "never trust, always verify, least-privilege policy" across OT and IT networks, public and private clouds, managed and unmanaged devices, and employees and contractors. + + + +The phrase zero trust does not inspire trust, clarity, or transparency. No name is perfect, but the challenge with calling an architecture that is consistent with a 'never assume trust, always verify it, and enforce the principle of least-privilege' policy 'zero trust' is that it sends the message that 'one cannot ever be trusted'. + + +Changing the mindset of anyone is already a complex undertaking, but + starting off with a lack of trust (even if it's only a word) doesn't help. + + + +Zero trust is simply good security. Zero trust is a conversation about the totality of the security stack, and how to bring it to bear in ways that allow teams to… + + + + consistently and continually verify user and device trust; + + + enforce trust-level access based on least privilege access; + + + and respond to change in trust to protect data and recover quickly from incidents. + + + + Simply put, make sure that one only has access to resources they need and that any violations of this policy are investigated. + + +So… how do we build the trust necessary for zero trust adoption? + + +Relationships build trust - an essential ingredient for zero trust momentum. In the Harvard Business Review's "Begin with Trust", Frances Frei and Anne Morriss describe three key drivers for trust: authenticity, logic, and empathy. Perhaps we can apply these drivers within the context of zero trust security: + + + +Authenticity - are we truly aligned on the goals of a zero trust rollout? Have we clearly communicated our intentions and progress to our users, business leaders, and other stakeholders? + + +How to cultivate: Be as transparent as possible. For example, share lessons learned - including mistakes - during each phase of the initiative. Publish dashboards and other reports on milestones and metrics (e.g., # of users enrolled, # of apps protected, etc.). + + + + +Logic - have we clearly explained the rationale behind the change in policy, user workflows, as well as the benefits of adopting zero trust? + + +How to cultivate: Appeal to everyone's bottom line: saving money and making your job easier. Zero trust can save money (refer to our TEI studies and ROI blog article from CIO's office) and done right, can simplify IT management and empower users to fix issues on their own. + + + + +Empathy - have we considered the impact on our users and how a move towards zero trust security can vastly improve the user experience? + + +How to cultivate: Remember a very simple yet essential concept. Whatever our role in the organization, we're all users. The easier we make security controls - in other words, the less they get in the way of getting our work done, the better for all of us. + + + + + +Next Steps + + + +Listen to the conversation Wolfgang Goerlich, Advisory CISO, and I had during this on-demand webinar entitled "The Skeptic and the Data: How to Build Trust for Zero Trust". + + +Explore Cisco's rollout of zero trust using Duo for our 100,000+ users in more than 95 countries. + + +Download Cisco's Guide to Zero Trust Maturity to see how teams with mature implementations of zero trust found quick wins and built organizational trust. + + + +We'd love to hear what you think. Ask a Question, Comment Below, and Stay Connected with Cisco Secure on social! + + +Cisco Secure Social Channels + + +Instagram +Facebook +Twitter +LinkedIn + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 02 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 February 2023 13:10:01 UTC. + + diff --git a/news/CSCO/2023.02.03/Cisco : COO Maria Martinez Reacts to President Biden's Intent to Nominate Her to National ...txt b/news/CSCO/2023.02.03/Cisco : COO Maria Martinez Reacts to President Biden's Intent to Nominate Her to National ...txt new file mode 100644 index 0000000000000000000000000000000000000000..f2b534dfd7a219f317cb658fb938a747c0b9ebd3 --- /dev/null +++ b/news/CSCO/2023.02.03/Cisco : COO Maria Martinez Reacts to President Biden's Intent to Nominate Her to National ...txt @@ -0,0 +1,34 @@ + + + +President Biden today announced his intent to nominateCisco Chief Operating Officer Maria Martinez to the National Security Telecommunications Advisory Committee (NSTAC), which provides industry-based analyses and recommendations to the Executive Office of the President (EOP) on how the government can enact policy for, or take actions to enhance, national security and emergency preparedness (NS/EP) telecommunications.  + + +Cisco COO Maria Martinez said:"As the worldwide leader in technology that powers the internet, Cisco is redesigning and securing the core networks that keep us connected and that power critical infrastructure essential to economic and social well-being. Strengthening the security, resiliency, and reliability of America's communications infrastructure will require increased public-private collaboration, and I look forward to joining my fellow NSTAC members in advising the president on 21st-century solutions to enable a secure and digital future."  + + +NSTAC is composed of up to 30 presidentially appointed senior executives who represent various elements of the telecommunications industry. The committee advises the president on a wide range of issues related to telecommunications, information systems, information assurance, infrastructure protection, and other NS/EP concerns.   + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 03 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2023 20:38:05 UTC. + + diff --git a/news/CSCO/2023.02.03/Cisco : De-Carbing the Data Center.txt b/news/CSCO/2023.02.03/Cisco : De-Carbing the Data Center.txt new file mode 100644 index 0000000000000000000000000000000000000000..36097f9811529716d706bdb7e98d736c93c53437 --- /dev/null +++ b/news/CSCO/2023.02.03/Cisco : De-Carbing the Data Center.txt @@ -0,0 +1,86 @@ + + + + Reducing carbon emissions in the data center, or "decarbing the data center" as our partner Hitachi Vantara says, is an urgent challenge. Why the urgency now? Frankly, the stakes are higher than ever. Take California for example. The state swung wildly from mega-drought not seen in 1,200 years, to a 100-year flood at the start of the year (Source: New York Times). Inaction is not an option and climate change underscores why we need to address it head-on with a sense of urgency. + + + Partnering for Change + + + However, what I am excited about the most is that by partnering together, we can create an ecosystem to make meaningful impact together. + + + Cisco and Hitachi Vantara have a unique track record of partnering together in deploying proven solutions to meet our customers' needs. Together, we bring to bear our formidable joint portfolio of network, compute, and storage technologies to tackle the greatest challenge of our time. + + + De-Carbonizing the Data Center + + + Decarbonization is one of the most urgent areas companies are focusing on today. The data center is where we have, and will continue, to make the biggest impact in the short-term for our customers. In fact, Tom Christensen, Hitachi Vantara, says it best, "Carbon neutral data centers are a key part of IT's sustainability drive. More than 80% of the value-chain CO2 emissions of a converged platform is related to its use." + + + Where do we see the most impact in slimming down data center emissions? + + + Insights and Visibility: you can't fix what you can't see. At Hitachi and Cisco, we are harnessing data to inform decision making. + + + + Hitachi: Carbon Insights Platform and Ops Center Clear Sight: Hitachi's tools and services provide information about the energy consumption across the fleet of storage products. Visibility is required before energy reduction is achieved using modern technology. + + + Cisco: Unified Platform Experience: Cisco can help IT turn the network into an Energy Management control plane to optimize energy consumption, lower costs, reduce your carbon footprint, and monitor energy use to monitor energy networking with Nexus Cloud, DNS Spaces, Intersight, and Meraki amongst others. + + + + Buildings Systems: sustainable buildings + + + + Hitachi Energy: Green Data Center. Hitachi's eco-friendly infrastructure: moving to modern technology like the eco-friendly infrastructure can fundamentally change a company's green profile and lower the cost of running a data center. That's because the systems enable people to lower the amount of electricity needed and lessen the amount of floor space needed, each of which helps them lessen the amount of cooling required.Hitachi VSP storage continues to reduce CO2 emissions by 30% to 40% with each new product introduction. As a result, carbon emission has been reduced by 86% since 2014 (Source: Based on CFP Communication Program Certification). According to Hitachi in their recent case study, a global customer has reduced both energy and carbon emission by 96%. + + + Cisco: Energy Efficient Infrastructure: The migration to modern hardware built with circularity in mind and more efficient infrastructure models than previous generations have proven to reduce environmental footprints. Networking: In Cisco lab tests, the new Nexus 9800 series, built using modular design and both 80 Plus Titanium-rated and Platinum-rated power supplies, was shown to be more than 59 times more energy efficient than the first generation of the Nexus 7000 series, and 1.6 times more efficient than the 400G GX- based Nexus 9500 series (Source: Cisco Lab Study May 2022: Gbps per watt.xls). Compute: The path to sustainability through modernization with Cisco UCS X-series from prior server generations can help reduce power consumption by up to 40-56% (based on various configurations), reduce the amount of hardware and raw materials, and a reduce operating costs (Source: Compute X-Series Sustainability Power Comparison Estimates). + + + + By partnering together, we can do even more. State-of-the-art converged infrastructure based on Cisco network, compute, and Hitachi storage is delivering the hybrid cloud platform for the workload challenges of today and beyond to help meet our customers' sustainability goals in reducing emissions. + + + There's no better way to jump-start 2023 than by driving lasting change to slim down those data center emissions by jumping into this challenge together. The change starts with us - literally and figuratively. + + + Tom and I are eagerly looking forward to meeting you at Cisco Live Amsterdam (February 6-10th). Join Tom at his session, The Eco-friendly Data Center and Beyond, and join me and Jeremy Foster, SVP & GM, Cisco Networking - Compute, at our Accelerate your Journey to Net Zero with Cisco Solutions iTalk. + + + Let's do this. + + + We'd love to hear what you think. Ask a Question, Comment Below, and Stay Connected with #CiscoPartners on social! + + +Cisco Partners Facebook | @CiscoPartners Twitter | Cisco Partners LinkedIn + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 03 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2023 16:18:03 UTC. + + diff --git a/news/CSCO/2023.02.07/All In For Security : Cisco Secure at Cisco Live EMEA 2023.txt b/news/CSCO/2023.02.07/All In For Security : Cisco Secure at Cisco Live EMEA 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..9f8e7246057c91a546446b4b2d2d7aa2233368df --- /dev/null +++ b/news/CSCO/2023.02.07/All In For Security : Cisco Secure at Cisco Live EMEA 2023.txt @@ -0,0 +1,100 @@ + + + + Cisco Live is the premier destination for Cisco customers and partners to gain knowledge and build community. Our teams work hard to deliver education and inspiration, ignite creativity, deliver practical know-how, and accelerate the connections that fuel your digital future. + + + The Cisco Secure team is excited to share our expertise to help power the strategies - and safety - of your organization. + + +If it's connected, it's protected + + + In 2023, the threat landscape will evolve to one that sees attacks on every surface, from criminals who are opportunistic, yet laser-focused on their goal. The attacks themselves could be email-borne, directly targeted, socially based, or a mix of all three. + + + Criminals will target vulnerabilities, operational deficiencies, suppliers, and business partners, as a means of accomplishing their goals. They will use the target's own environment and take advantage of existing people and technology problems, including alert fatigue and staffing shortages. + + + To face this reality and address the needs of organizations both large and small, Cisco will continue to focus on education and innovation in the areas of preventing insider threats, providing consistent and informed alerts, enabling actionable intelligence, and delivering solutions to implement a zero-trust security framework. + + + As the organization that pioneered networking, we are driven to secure every connection, providing end-to-end protection for users and devices across multiple clouds and networks with a seamless experience. + + +Innovating to enable a more resilient organization + + + As our vision for the integrated Cisco Security Cloud evolves, we're continuing to challenge existing models and unify security and networking, with foundational elements that execute on this vision. From verified push - which protects organizations from MFA-focused phishing attacks - to Wi-Fi Fingerprint, and Remembered Devices, the performance enhancements with Enterprise Single Sign-on and Cisco+ Secure Connect, we continue to meet our customers where they are, offering true zero trust, with frictionless experiences for the hybrid workforce. + + + We're excited to celebrate the following innovations and updates announced at Cisco Live EMEA: + + +Risk-Based Authentication + + + Finding the balance between usability and security is now easier than ever. With risk-based authentication, users have the access they need, secured by real-time contextual signals. Organizations can increase security efficacy by dynamically adjusting authentication ​requirements based on risk levels and by enabling safer end-user behavior. Risk-based authentication now includes wi-fi fingerprint, remembered device, and verified push features, which work together to reduce risk while preserving user experience ​by only requesting additional interaction for suspicious logins or a change in risk. + + +Single Sign-On + + + Our Enterprise Ready Single Sign-on expands Duo SSO with three new capabilities to easily connect single sign-on to modern apps and empower end users. By adding major protocol support, improved admin tooling, and SSO on demand password resets, organizations enable easier and more secure access from anywhere. + + +Cisco+ Secure Connect + + + Cisco SD-WAN customers can now enjoy all the benefits of a turnkey, single-vendor SASE solution that brings together industry-leading networking with security:​ Cisco+ Secure Connect. This new integration gives Cisco SD-WAN (powered by Viptela) customers fast, secure private application and internet access, enabling them to deliver a secure experience, anywhere work happens. + + +Application Security + + + We are also announcing the introduction of industry-first Business Risk Observability, an enhancement of our Full-Stack Observability application security solution. Available through Cisco Secure Application, which is integrated into Cisco AppDynamics, it provides a business risk scoring solution which brings together Kenna Risk Meter score distribution and Business Transactions from Cisco AppDynamics and integrates with Panoptica for API security and Talos for threat intelligence. + + +Security Readiness Index report + + + The initial findings from our first Cybersecurity Readiness Index reveal that while technology to devices is widely adopted, more progress is needed to protect identity, networks and applications. The report assessed the preparedness of companies around the world to safeguard against cyber threats in the current environment. See our key findings and security readiness trends, with the full report launching in the coming weeks. + + + As we navigate 2023, we will continue to face uncertainties and challenges. We are fully committed to our customers and partners in the journey to provide security resilience, supporting a frictionless user experience, and solutions threat intelligence that work to continually minimize risk. + + +We'd love to hear what you think. Ask a Question, Comment Below, and Stay Connected with Cisco Secure on social! + + +Cisco Secure Social Channels + + +Instagram +Facebook +Twitter +LinkedIn + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 07 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2023 09:41:20 UTC. + + diff --git a/news/CSCO/2023.02.07/Cisco : How Internet Outages Impact Transportation.txt b/news/CSCO/2023.02.07/Cisco : How Internet Outages Impact Transportation.txt new file mode 100644 index 0000000000000000000000000000000000000000..d4b06c1725db29957dd53538d14c54bc7caaf7da --- /dev/null +++ b/news/CSCO/2023.02.07/Cisco : How Internet Outages Impact Transportation.txt @@ -0,0 +1,115 @@ + + + +This blog was co-authored by Oleg Karaman, Sales Business Development Manager, ThousandEyes and Adam Sickmann, Technical Solutions Architect, ThousandEyes. + + +There are certain industries that, due to their critical nature, cannot afford system downtime. The transportation industry, which includes airlines and public transit, is one example. So what happens if systems go offline? Over the past few months, we have seen highly publicized examplesin which system failures have frustrated passengers and tarnished reputations. And under the right conditions, a similar scenario could unfold in any organization that has blind spots within its digital supply chain.   + + +Transporting people and goods over long distances requires constant supervision because of occupational health and safety regulations and other legislative requirements. As such, many companies in the transportation industry have invested in technologies such as sensors and readers to bring more manageability to their processes. + + +On top of that, technology is changing the way we travel. Driverless cars, autonomous railroads, and connected roadwaysare just a few examples of how the transportation industry is adopting IoT (Internet of Things) at an astonishing rate. However, with each advancement and investment comes increased reliance on the Internet, which those familiar with its inner workings can affirm introduces another level of unpredictability that needs proactive management.  + + +Reliable Transportation Experiences + + +The transportation industry is one of the most connected sectors in the world. From trains to planes, automobiles to ships, connectivity helps companies and organizations in this sector compete with better products, planning, and logistics. + + +Transportation companies have learned that an investment in leading indicators is an investment that pays off. For example, a rail operator using IoT to monitor its engines can better plan maintenance schedules and reduce costs.  They can also use leading indicators to predict when things are going to fail before they happen, such as a brake issue. + + +In the aviation sector, airlines have moved from old-school paper tickets to mobile boarding passes and digital check-ins. This digital transformation allows airlines to manage passenger traffic more efficiently and allows for more seamless planning of flights. + + +As a result of increased connectivity, companies in this sector can better anticipate problems before they happen. They can also respond more quickly when unexpected events arise, like an accident or mechanical failure. Moreover, with IoT technology, transportation companies can improve the overall passenger experience by delivering reliable service and accurate information about their operations. + + +Shocks, Stressors, and Moving Assets + + +The performance of transportation endpoints (i.e., trains, automobiles, and ships) is difficult to monitor because they are moving assets. Transportation companies often have limited visibility into their vehicles while in motion. For example, an operator may have a fleet of trucks traveling to different locations where drivers cannot check in with the central office because they are out of range or otherwise unavailable. This intermittent lack of connectivity makes it difficult for transportation companies to track their assets and determine if there is an issue with one or more vehicles to take preventative action. + + +The transportation sector is also susceptible to shocks and stressors (i.e., extreme weather, protests, and pandemic) that make resiliency fundamental to managing risk in operations. On top of that, the unpredictability of the Internet also adds noise to the data these companies collect, making the accurate provision of information about asset location and status challenging during times of high network latency or packet loss. + + +Latency and performance degradation can also be pivotal when it comes to moving targets. When a train is moving at high speed, operators rely on sensors deployed throughout the railway to ensure passenger safety, and any latency in those communications may interfere with that objective. + + +Steep Cost of Transportation Downtime + + +Downtime in certain areas of the transportation sector can be expensive, resulting in steep regulatory fees and labor costs. Unscheduled downtime can also result in loss of business and reputational risk. + + +Southwest Airlines estimatesits December 2022 incident will cost up to $825 million in lost revenue and other expenses. + + +But it's not just downtime to internal systems that can be costly. When Google Maps went down on August 9, 2022, it took out several apps that rely on its API (Application Programming Interfaces) to deliver directions. For example, apps like Uber and Lyft rely on Google Maps data to provide real-time information about traffic conditions and other factors impacting drivers' ability to pick up riders. With these apps affected by the outage, their drivers could not pick up customers. + + +Predictive Maintenance + + +Businesses that rely on a connected communications system can be vulnerable when their connectivity worsens. But with transportation, it is not just about being unable to access websites or apps. When there are outages, transportation companies must work through their supply chain systems using other means-such as paper-based processes or phone calls-which can be very time-consuming and inefficient. + + +Hence why so many companies in the sector see a competitive advantage in connectivity for ensuring smooth operations and helping customers solve problems in real time. Some have adopted the gathering and analysis of timely telemetry to alert issues ahead of time, so the company can fix them before they become more costly problems. But for these predictive maintenance systems to work and be reliable, you need end-to-end visibility of the networks relaying that information. + + +Reliability means ensuring you have access to real-time data from sensors in vehicles and readers on tracks and roads, so you can monitor performance and act if problems arise. Cisco has worked with 32,000 transportation customers across 169 countries to help them achieve that goal-building a reputation for trust worldwide. + + +And with ThousandEyes, we can help ensure that your company's network is available and fast enough to support a connection to a moving asset. ThousandEyes can help transportation companies understand the performance of their fleet and the Internet-based critical apps that keep them operational. With our globally distributed fleet of software agents, we provide visibility into potential impacts through insights that show how much downtime you are experiencing and what is causing it. With this data, transportation companies can make better decisions about where to invest in upgrades like sensors, readers, software, and other IoT that will improve reliability and profitability while reducing excess capacity. + + +ThousandEyes can also help transportation companies reduce or eliminate downtime instances with telemetry that supports predictive maintenance. We can help you stay connected to your moving assets so they can better alert you when a component in the vehicle is starting to fail and needs maintenance. This capability helps improve uptime while reducing expenses stemming from unplanned repair work and hauling costs. + + +Need for Speedy Resolution + + +In November 2022, Cisco powered the Indy Autonomous Challenge at Texas Motor Speedway. At this head-to-head racecar competition, ThousandEyes conducted tests where we monitored a car traveling 100+ miles per hour around a track from a central base station computer. + + +During the event, one vehicle was having an issue communicating its data, and it was uncertain whether the problem stemmed from a faulty sensor or the network. The issue only occurred at certain parts of the track, so it was assumed that it was simply a network connectivity issue. But because of the ThousandEyes tests, we discovered that the problem did not lie with the network but rather with the GPS. + + +In the real world, an issue like the one seen at the raceway would not be observable to customers without end-to-end visibility. As such, this capability to monitor the connectivity and latency of moving assets could help automakers test autonomous vehicles or improve the comfort and functionality of their existing vehicle lines. Moreover, ensuring lossless and quick network conditions assures that the data the moving asset sends does not get backed up, which could create a chain reaction that delays the following data. + + +Improved Passenger Experiences + + +The Internet is a critical component of transportation and logistics. With the vast amount of data available, it is easy to see how the Internet can help companies in the transportation sector do better capacity planning for their fleets, pick the best apps for planning and logistics, and solve problems proactively with support from alerts and fault codes. Most importantly, though, continuously connected systems can vastly improve passenger experience and safety, which is what matters in the end. + + +Help ensure the resiliency of your operations with real-time telemetry from Cisco ThousandEyes. Contact ustoday to learn more. Or visit Cisco's portfolio for transportationto discover even more solutions to help your company optimize its fleet and maintain uninterrupted uptime. + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 07 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2023 14:48:06 UTC. + + diff --git a/news/CSCO/2023.02.07/Cisco Connects and Protects with New Cloud Tools Across Networking, Security and Operat...txt b/news/CSCO/2023.02.07/Cisco Connects and Protects with New Cloud Tools Across Networking, Security and Operat...txt new file mode 100644 index 0000000000000000000000000000000000000000..d93bcdb03296a8412f74c7b9b0e026bc2fc7108d --- /dev/null +++ b/news/CSCO/2023.02.07/Cisco Connects and Protects with New Cloud Tools Across Networking, Security and Operat...txt @@ -0,0 +1,35 @@ + + +NEWS SUMMARY: +Cisco introduces new cloud services in IoT Operations Dashboard to increase industrial asset visibility, securely manage assets from anywhere and provide Industrial Internet of Things (IoT) customers with a seamless path to cloud automation for Operational Technology (OT) teamsCisco ThousandEyes introduces support for OpenTelemetry, unlocking internet and Cloud intelligence across a wide range of monitoring and IT platforms for expanded visibility, correlated insights and optimized digital experiences.Cisco's unified SASE solution, Cisco+ Secure Connect, now supports integration into Cisco SD-WAN fabrics leveraging Viptela technology, providing any Cisco SD-WAN customer with access to fast, secure private application and internet access.AMSTERDAM, Feb. 7, 2023 /PRNewswire/ -- CISCO LIVE -- Today, Cisco (NASDAQ: CSCO) announced new innovations in cloud-managed networking, delivering on its promise to help customers simplify their IT operations. With powerful new cloud management tools for industrial IoT applications, simplified dashboards to converge IT and OT operations, and flexible network intelligence to see and secure all industrial assets, Cisco delivers a unified experience that provides true business agility. + + + + + + + +"The most effective way to manage growing complexity and provide more insight into business operations is through reliable connectivity and complete visibility across an organization's operations and assets," said Vikas Butaney, SVP/GM, SD-WAN, Cloud Connectivity, and Industrial IoT Networking, Cisco. "A strong partnership between all technology teams – security, networking and operations – is essential. With these new innovations, we're excited to equip organizations with the tools needed for a unified, cloud-delivered approach that brings the power of the enterprise IT network to scale and secure the industrial edge." +Simplified IT/OT for Industrial Networks +Organizations are extending their networks to new places. They need to connect core enterprise operations to industrial spaces, spanning utility grids, manufacturing facilities and transportation networks. They are also prioritizing sustainability and resiliency in their operations, driving the need for greater visibility across their environments. The distributed nature of these operations makes networks complex to manage, and as these industries digitize their assets, the cybersecurity attack surface grows. +Cisco is introducing new cloud services in its IoT Operations Dashboard to increase industrial asset visibility and securely manage assets from anywhere. +Cisco Cyber Vision is now integrated with Cisco IoT Operations Dashboard to grant IT and operations teams full visibility into IT and OT devices to manage threats across the organization, providing a unified security posture across the entire network.Secure Equipment Access Plus makes it easier for IT and OT teams to remotely deploy, manage and troubleshoot connected equipment. This service now provides access to any connected equipment with IP connectivity, so operations teams can run native applications on their workstations to access remote assets more easily.These innovations, along with Cisco's extension of its portfolio of its Catalyst industrial wireless and switching portfolio, provide more common tooling and data so IT and OT teams can work more efficiently together to reduce downtime of critical infrastructure, drive greater business productivity and efficiencies, and enhance overall safety and security. +ThousandEyes for OpenTelemetry Simplifies IT Data Intelligence +Having the relevant data at the right time is necessary to optimize users' digital experiences, but data may not always be easy to collect and correlate. To help customers tackle this challenge, Cisco ThousandEyes now supports OpenTelemetry, the open-source framework and industry standard that partners, customers, and providers rely on to generate, collect, process and export cloud-native and distributed telemetry data. +As the first network visibility solution to support OpenTelemetry, ThousandEyes is making it possible for customers to interconnect cloud and internet intelligence across a wide range of solutions for unmatched data correlation and insight. With ThousandEyes for OpenTelemetry, Cisco is enabling true end-to-end correlated insights across disparate domains, from user to application, for optimal digital experiences. +Unified SASE Solutions for all Cisco SD-WAN customers +To simplify network security and policy management, Cisco's unified SASE solution, Cisco+ Secure Connect, now supports integration into Cisco SD-WAN fabrics using Viptela technology. Cisco SD-WAN customers now have access to fast, secure private applications and internet access, enabling them to deliver a secure experience to their employees anywhere. +This unified solution converges networking and security to provide customers with a single platform and a streamlined operational model that simplifies and scales the visibility, management and control over a hybrid work environment. This converged operating model also provides IT teams with enhanced visibility and control over the network, making the experience easy for them to manage. +Third Party Reactions +Customers, partners, and analysts have expressed excitement about Cisco's vision to simplify IT. View the quote sheet to read their reactions. +Additional Resources +Executive Blog Post: New Innovations to Simplify IT for Industrial Networks by Vikas Butaney, SVP/GM, SD-WAN, Cloud Connectivity and Industrial IoT NetworkingExecutive Blog Post: Driving Simplified IT Operations with New ThousandEyes Innovations by Joe Vaccaro, VP of Product Management, Cisco ThousandEyesBlog Post: Harmonizing Networking and Security to Make SASE Easy by Omri Guelfand, VP of Product Management, Cisco+ Secure ConnectIoT Operations DashboardCisco+ Secure Connect webpageAbout CiscoCisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco +Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. +Many of the products and features described in this document remain in varying stages of development and will be offered on a when-and-if-available basis. The delivery timeline of these products and features is subject to change at the sole discretion of Cisco, and Cisco will have no liability for delay in the delivery or failure to deliver any of the products or features set forth in this document. +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cisco-connects-and-protects-with-new-cloud-tools-across-networking-security-and-operations-to-provide-greater-visibility-and-control-over-networks-301740218.html +SOURCE Cisco Systems, Inc. + + diff --git a/news/CSCO/2023.02.07/Cisco Doubles Down on Frictionless Security to Protect Hybrid Work and Multi-Cloud Envi...txt b/news/CSCO/2023.02.07/Cisco Doubles Down on Frictionless Security to Protect Hybrid Work and Multi-Cloud Envi...txt new file mode 100644 index 0000000000000000000000000000000000000000..09a70d158dab70f9a51000dede3b94b7625f6a92 --- /dev/null +++ b/news/CSCO/2023.02.07/Cisco Doubles Down on Frictionless Security to Protect Hybrid Work and Multi-Cloud Envi...txt @@ -0,0 +1,34 @@ + + +NEWS SUMMARY: +Finding the balance between usability and security is now easier than ever with the general availability of Risk-Based Authentication – giving users the access they need, secured by real-time contextual signalsSignificant advancement in its applications strategy, Cisco introduces industry-first Business Risk Observability, an enhancement of Cisco's Full-Stack Observability application security solutionWhile technology to secure devices is widely adopted, initial findings from Cisco's first-ever Cybersecurity Readiness Index revealed that more progress is needed to protect identity. networks and applicationsAMSTERDAM, Feb. 7, 2023 /PRNewswire/ -- CISCO LIVE -- Cisco (NASDAQ: CSCO) customers can now access new risk-based capabilities across Cisco's security portfolio to better protect hybrid work and multi-cloud environments. These advancements demonstrate progress towards realizing the full vision of the Cisco Security Cloud which will protect the integrity of an organization's entire IT ecosystem. + + + + + + + +"Security products should provide a frictionless user experience while minimizing risk for the organization," said Jeetu Patel, Executive Vice President and General Manager of Security and Collaboration at Cisco. "At the same time, organizations need to look at their security resilience holistically. This is why Cisco is building an end-to-end portfolio of security solutions and integrating them into a single platform. We're excited to share the latest innovations across zero trust, application security, and secure connectivity as we build towards our vision." +Cisco also introduced initial findings from the first-ever Cybersecurity Readiness Index focused on five core pillars of security protection – identity, devices, network, applications, and data. While technology to secure devices is widely adopted, more progress is needed to protect identity, networks and applications. +Zero Trust +Respondents ranked identity and device management as two of the three top cybersecurity threats. Alongside the widespread adoption of technology like multi-factor authentication (MFA), criminals are increasingly targeting the solutions protecting users and devices. +Unfortunately, while we are seeing impressive levels of adoption when it comes to device protection, there is still much work to be done when it comes to identity. The highest level of readiness that companies have across the globe is in securing devices, with nearly half of companies placed in either the 'mature' (31 percent) or 'progressive' (13 percent) stages of adoption. On the other hand, significant progress is needed to meet the challenge of identity verification, with only 20 percent of organizations in the 'mature' category, and more than half falling into the 'beginner' (20 percent) or 'formative' (38 percent) stages.   +Not only are these attacks becoming more frequent and current risk-based signals are failing, but authentication controls are also inflexible, creating too much friction. Security gets in the way, creating usability issues. Several features of Duo Risk-Based Authentication designed to reduce user friction and increase security efficacy in a hybrid work world are now available: +Users can now authenticate less often in trusted situations without compromising privacy. Remembered Devices and patent-pending Wi-Fi Fingerprint allow users to stay logged in when using familiar applications, devices and networks – without collecting personal or private location information.Protect against authentication phishing attacks with the new Verified Push capability. In risky situations where Duo can recognize behavior from known attack patterns, it requires the user to enter a code, instead of just pushing a button to confirm.Expanded Single Sign On (SSO) capabilities that cater to modern enterprises and improve productivity by notifying and enabling users to reset their passwords before they expire.Application Security +According to the Cybersecurity Readiness Index, companies urgently need to act on the security posture of their applications and related workloads. Only 12 percent are in a state of mature application-security readiness, while 65 percent are in the early or formative stages. Cisco's application strategy aims to ensure greater resilience against the growing attack surface of the experience economy where applications are no longer an adjunct, but rather they are the business itself. +A significant advancement in its applications strategy, Cisco has announced the introduction of industry-first Business Risk Observability, an enhancement of Cisco's Full-Stack Observability application security solution. Available through Cisco Secure Application, which is integrated into Cisco AppDynamics, it provides a business risk scoring solution which brings together Kenna Risk Meter score distribution and Business Transactions from Cisco AppDynamics, and also integrates with Panoptica for API security and Talos for threat intelligence. +Secure Connectivity +IT complexity, and the complexity of managing a highly distributed workforce has introduced risk to the organization and increased operational costs. Most enterprise networks can't support the change in traffic patterns driven by SaaS and hybrid work. Only 19 percent of companies are placed in the mature stage of protecting the network, while more than 50 percent are in the formative or beginner stages. +To provide secure access to anything from anywhere - organizations are increasingly adopting Secure Access Service Edge (SASE) architectures. Cisco is thrilled to announce that Cisco+ Secure Connect, the industry's first and leading unified single-vendor SASE solution, is extending support to Cisco SD-WAN powered by Viptela. Cisco+ Secure Connect uniquely converges Cisco SD-WAN fabrics and Cisco's leading cloud security services to provide secure access to anything from anywhere. +Additional Resources: +Blog: Cisco Secure at Cisco Live EMEA 2023Report: Cisco Cybersecurity Readiness IndexAbout Cisco +Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming our infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco. +Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cisco-doubles-down-on-frictionless-security-to-protect-hybrid-work-and-multi-cloud-environments-301740207.html +SOURCE Cisco Systems, Inc. + + diff --git a/news/CSCO/2023.02.07/Cisco to Train 10 Million People with Digital Skills over 10 years, across EMEA.txt b/news/CSCO/2023.02.07/Cisco to Train 10 Million People with Digital Skills over 10 years, across EMEA.txt new file mode 100644 index 0000000000000000000000000000000000000000..a7c12e2d4492d8a291fa171d56572aa6d45a4433 --- /dev/null +++ b/news/CSCO/2023.02.07/Cisco to Train 10 Million People with Digital Skills over 10 years, across EMEA.txt @@ -0,0 +1,56 @@ + + +News Summary: +This 10-year goal for the EMEA region is part of Cisco's global commitment to empower 25 million people with digital skills for long-term inclusion and economic resilience.New partnership with Randstad, a global HR services company, aims to re-skill and upskill 300,000 people.Founded in 1997, Cisco Networking Academy is celebrating its 25th anniversary with 17.5 million students trained and continues to be one of the longest-standing IT skills-to-jobs programs in the world.AMSTERDAM, Feb. 7, 2023 /PRNewswire/ -- CISCO LIVE -- Today, Cisco announced its goal to train 10 million people in digital and cybersecurity skills, over the next 10 years, across Europe, the Middle East, and Africa (EMEA). + + + + + + + +The number of people to be trained is part of Cisco's 10-year ambition to empower 25 million people with digital skills worldwide through Cisco's Networking Academy. This flagship program is celebrating its 25th anniversary this year and, so far, has reached 17.5 million students across 190 countries. Since starting operations in EMEA, it has spread to 120 countries in the region and trained over 6.3 million students, through 5,800 partnerships, with educational institutions and organizations offering Networking Academy courses.  +The future of innovation, growth, and global competitiveness depends on building a strong digital economy which in turn is dependent upon a digitally skilled workforce (or something like). According to the World Economic Forum, by 2025, advances in technology and automation will eliminate 85 million jobs while creating 97 million new jobs globally. Cisco aspires to equip millions of people around the world with the technical and digital skills required for these new jobs by empowering the workforce of the future through the Networking Academy.   +"We need a global workforce equipped with digital skills to develop sustainable and secure businesses, and more equitable societies. Building a local pool of next-generation talent is critical to long-term social inclusion and economic resilience," said Guy Diedrich, SVP and Chief Innovation Officer, Cisco. "It takes an entire ecosystem working together to achieve this. Through Cisco Networking Academy partnering with local organisations, we have impacted the lives of 17.5 million students over the past 25 years."  +"Digital skills are in short supply across the Europe, Middle East, and Africa region, which should be a cause for concern for all of us," commented Wendy Mars, President of Cisco EMEA. "Without access to a strong talent pool, it will be harder to continue the digital transformation at pace. I'm proud of the achievements of the Cisco Networking Academy to date and look forward to welcoming many more skilled people from diverse backgrounds to the industry."  +To this end, Cisco is launching a partnership with Randstad, a global leader in the HR services industry, to help talent develop their digital skills, preparing them to navigate the rapidly digitizing labour market. Cisco and Randstad aim to re-skill and upskill 300,000 people in cybersecurity, programming and infrastructure automation. The partnership is currently running in The Netherlands and Italy with more countries to follow through 2023.   +Chris Heutink, Randstad's COO commented: "We are very proud to partner with Cisco to equip the talent of tomorrow with the skills they need to succeed in a fast-changing world of work. Through partnerships such as this one we are supporting talent to turn the skills they gained into opportunities, by combining skilling with access to the labour market."  +Notes to the editor  +Cisco Networking Academy – 25 years training the workforce of the future  +Cisco Networking Academy is one of the world's longest running skills-to-jobs programs, offering tech education through strong public-private partnerships, a high-quality curriculum, and inclusive workforce development programs.  +In partnership with educational institutions, government leadership, and community-based organizations around the world, Cisco Networking Academy leverages Cisco's industry expertise to deliver a cloud-based curriculum and tools, focused on information and communication technologies shaping the future — such as security, networking, collaboration, and Internet of Things (IoT). Courses are designed to equip learners with the skills required by industry, using gamification, assessments, and problem-solving to support learner success. +Supporting a continuum of learning, from curiosity to careers, courses align to industry-recognized certifications and prepare learners with transferable, vendor-neutral, job-ready skills. Over the years, 94% of students surveyed in EMEA who took Cisco certification-aligned courses, obtained a job and/or educational opportunity.  +Cisco Networking Academy has a long history of promoting diversity in the tech field and providing learning opportunities to students of all backgrounds.   +Meaningful impact through improved access with learner centric platform  +The Cisco Networking Academy has built a new Skills For All platform to ensure best in class content is accessible to as many learners as possible.   +Highlights of the new platform include:   +A learner-centric platform to allow learners anywhere, anytime to begin their upskilling journey, whether the goal is basic skill acquisition or the beginning of a learning journey ending in certification and job-readiness. The platform is user friendly and accessible, allowing learners the flexibility to ensure that schedules and constraints, linked to everyday challenges, are not a barrier to digital upskilling. Delivering meaningful impact has always been part of Cisco Networking Academy's vision. That means ensuring that underserved and underprivileged populations are provided with opportunities to partake in learning pathways that could transform their lives. European Year of Skills +By 2030, the EU aims to equip at least 80 percent of its citizens with basic digital skills and have at least 20 million information and communications technology (ICT) specialists employed. Currently, only 54 percent of Europeans aged between 16 and 74 have basic digital skills. +Cisco's announcement comes as the Union kicks off its European Year of Skills, announced by President Ursula von der Leyen in her latest State of the Union address. In the European Union, Cisco will aim to train 2.6 million people in digital and cybersecurity skills, over the next 10 years, through the Networking Academy and the diverse ecosystem of 2,882 academies on which the program relies.  +Examples of Networking Academy partnerships in Europe  +France: Through the Networking Academy program, Cisco will offer students, job seekers, and people looking to change career, access to new skills in cybersecurity, networking and IT. Cisco and Plaine Commune, as well as La Maison de l'Emploi du Territoire de Plaine Commune (Employment organization of "Plaine Commune") will collaborate for three years to offer everyone (with a particular focus on attracting women) the possibility to acquire the essential skills to live and work in tomorrow's society.  +Germany: Networking Academy collaborates with the REDI School in Germany to certify migrant and refugee women using Cisco Networking Academy pathways. Women who achieve certification can access job openings within Cisco and across its partner ecosystem. This solution has been successfully deployed during the migrant crisis in 2015 and in the ongoing conflict in Ukraine.  +Greece: In Greece, an ongoing program, in partnership with Scientific College of Greece and KEDE (Federation of Greek Municipalities), aims to provide 200 candidates from 8 Greek municipalities (citizens and members of their administrations) with the chance to participate in a full cybersecurity certification pathway, free of charge.  +Italy: In Turin, Italy, through our partnership with the municipality of Turin, the Cisco Networking Academy provided municipal workers with basic training in cybersecurity thanks to our Introduction to Cybersecurity course, bolstering the cyber-readiness of the local administration.  +Poland: Cisco Networking Academy, together with its education partner, the University of Information Technology and Management (UITM), in Rzeszów, launched the Start IT - Cisco4Ukraine program to train 10,000 people over the next 2 years. It has been designed for Ukrainian refugees who want to build digital skills, reskill, or upskill.  +Spain: In Spain, the Cisco Networking Academy has collaborated with several partners to train women, unemployed people, and groups at risk of digital social exclusion. In collaboration with Escuela de Organización Industrial (EOI), they offered basic training for long-lasting unemployed people and those under 30 years of age. Networking Academy partner, Human Age Institute, a part of Manpower, recently finalized its Woman Rethinking Digital program to train women in cybersecurity essentials.  +UK: In 2022, the Cisco Networking Academy, in partnership with Glasgow Caledonian University and Scotland Women in Technology, offered a free cybersecurity learning pathway for women of all educational backgrounds, aimed at providing candidates with jobs within the tech ecosystem in Scotland on completion.  +About Cisco  +Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco.  +Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks.  + + + + + + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cisco-to-train-10-million-people-with-digital-skills-over-10-years-across-emea-301740370.html +SOURCE Cisco Systems, Inc. + + diff --git a/news/CSCO/2023.02.07/New Cisco Innovation Helps Organizations Meet Sustainability Targets.txt b/news/CSCO/2023.02.07/New Cisco Innovation Helps Organizations Meet Sustainability Targets.txt new file mode 100644 index 0000000000000000000000000000000000000000..27d19839eadbc9b6d670a8acc10936f04821a6b3 --- /dev/null +++ b/news/CSCO/2023.02.07/New Cisco Innovation Helps Organizations Meet Sustainability Targets.txt @@ -0,0 +1,35 @@ + + +Industry-first Carbon Emissions Insights in Webex empowers customers to track and reduce their carbon footprint +NEWS SUMMARY: +Cisco announces Carbon Emissions Insights in Webex Control Hub to help organizations meet their sustainability goalsIt is the first of its kind to provide scope 2 emissions reporting and recommendations for optimizing energy consumption and usage of Cisco Webex devicesAMSTERDAM, Feb. 7, 2023 /PRNewswire/ -- CISCO LIVE -- Cisco (NASDAQ: CSCO) today announces Carbon Emissions Insights in Webex Control Hub that delivers actionable insights to help organizations to meet their sustainability goals. The first of its kind in the collaboration industry, the tool provides scope 2 emissions reporting and recommendations for optimizing energy consumption and usage of Webex devices. This new capability is part of Cisco's larger sustainability commitment, including its goal of reaching net zero greenhouse gas emissions by 2040 and continuing to innovate its products with sustainability as a priority. + + + + + + + +According to Gartner, CEOs placed environmental sustainability in their top 10 strategic business priorities for the first time this past year. Of the 80% of CEOs who intend to invest in new or improved products in 2022 and 2023, environmental sustainability was cited as the third largest driver, just behind functional performance and general quality. CEOs also recognize sustainability as a competitive differentiator – in fact, it is on the same level as brand trust among respondents. +"At Cisco, we're laser-focused on helping to create a more sustainable and positive impact across the globe," says Jeetu Patel, EVP and GM, Security and Collaboration, Cisco. "One of the critical reasons we design products and solutions with circular design principles in mind is to help our customers meet their environment, sustainability and governance goals, and we're the only company to offer a feature of this kind." +Carbon Emissions Insights in the Webex Control Hub allow companies to: +Estimate energy usage and related carbon dioxide equivalent (CO2e) emissions from Cisco collaboration devices. The calculations are based on formulas from recognized governmental authorities such as the US Environmental Protection AgencySee emissions trends over time to track progress towards sustainability goalsGuide IT administrators to enable features like Webex's Office Hours to reduce their energy usageCarbon Emissions Insights will be available in Webex Control Hub and enabled by default for IT administrators. The estimated data that it generates can be exported through an API for integration into customer sustainability reporting tools. Carbon Emissions Insights will be available starting this summer. +Cisco's goal is that 100% of new Cisco products and packaging incorporate Circular Design Principles by 2025, with Cisco collaboration devices playing a large part in this. One example of our commitment to circular design is the Cisco Room Bar, which was released last year with 100% recyclable packaging material to eliminate up to 165,000 pounds of packaging material per year. In addition, starting 2025, Cisco IP Phone 8800 series will include models made with 100 percent Post-Consumer Recycled (PCR) resin, which will reduce virgin plastic use by more than 3 million pounds per year. +Cisco encourages customers, partners and employees to participate in its Takeback and Reuse Program where 99.9% of Cisco's end-of-use hardware that is returned is reused or recycled. +For more information, visit www.webex.com and read Cisco's latest Purpose Report. +About Cisco  +Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco. +Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.  +About Webex by Cisco  +Webex is a leading provider of cloud-based collaboration solutions which includes video meetings, calling, messaging, events, polling, asynchronous video and customer experience solutions like contact center and purpose-built collaboration devices. Webex's focus on delivering inclusive collaboration experiences fuels our innovation, which leverages AI and Machine Learning, to remove the barriers of geography, language, personality and familiarity with technology. Its solutions are underpinned with security and privacy by design. Webex works with the world's leading business and productivity apps – delivered through a single application and interface. Learn more at webex.com. + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/new-cisco-innovation-helps-organizations-meet-sustainability-targets-301740216.html +SOURCE Cisco Systems, Inc. + + diff --git a/news/CSCO/2023.02.08/Cisco Live Amsterdam 2023, Cisco Announces New Solutions for a Secure, Sustainable and ...txt b/news/CSCO/2023.02.08/Cisco Live Amsterdam 2023, Cisco Announces New Solutions for a Secure, Sustainable and ...txt new file mode 100644 index 0000000000000000000000000000000000000000..ab8e182da51940e5e31656dab69f8657822734b9 --- /dev/null +++ b/news/CSCO/2023.02.08/Cisco Live Amsterdam 2023, Cisco Announces New Solutions for a Secure, Sustainable and ...txt @@ -0,0 +1 @@ +AMSTERDAM - Cisco (NASDAQ: CSCO) welcomes the EMEA tech community to Cisco Live, its premier networking and security event.Over nine thousand attendees are gathering in Amsterdam, and many more virtually, to experience how Cisco's community of customers and partners connect and collaborate now - and innovate for the future.Wendy Mars, President of Cisco EMEA will welcome Liz Centoni, EVP and Chief Strategy Officer, Jonathan Davidson, EVP and General Manager Cisco Networking, as well as customers and Cisco executives to the Cisco Live stage to share their vision of a digital future. Attendees can join a wealth of innovation talks, hands-on labs, leadership, and technical education sessions. The World of Solutions will showcase a Sustainability Zone, Hybrid Work area including Webex Hologram, and the Medibus, a rolling medical clinic developed in partnership with Deutsche Bahn, Germany's largest public transportation provider as part of the Cisco Country Digital Acceleration program.'Our customers rely on us to keep them connected and secure, with uninterrupted access to the apps they need to run their businesses efficiently, and to continue to adapt and grow,' said Wendy Mars, President of Cisco's EMEA region. 'That trust is something we've forged over many years, and the close collaboration between our teams and our customers and partners fuels the innovation we have on display here in Amsterdam. Working together, we have the power to use technology to solve the world's most profound challenges, and to build a secure, digitally connected future that's both sustainable and prosperous.'At the event, Cisco is announcing a range of technology innovations in the areas of security, networking, cloud, IoT, and hybrid work.Delivering on Security Cloud VisionFindings from the Cisco Cybersecurity Readiness Index reveal that while technology to secure devices is widely adopted, more progress is needed to protect identity, networks, and applications.Cisco customers can now access new risk-based capabilities across Cisco's security portfolio to better protect hybrid work multi-cloud environments. With the general availability of Risk-Based Authentication, users have the access they need, secured by real-time contextual signals. In addition, Cisco will unveil industry-first Business Risk Observability, an enhancement of Cisco's Full-Stack Observability application security solution, available through Cisco Secure Application. These advancements demonstrate progress towards realizing the full vision of the Cisco Security Cloud which will protect the integrity of an organization's entire IT ecosystem.Cloud Automation for Industrial IoTOrganizations are extending their networks to new places. They need to connect core enterprise operations to industrial spaces, spanning utility grids, manufacturing facilities, and transportation networks. They are also prioritizing sustainability and resiliency in their operations, driving the need for greater visibility across their environments. The distributed nature of these operations makes networks complex to manage, and as these industries digitize their assets, the cybersecurity attack surface grows.At Cisco Live Amsterdam, Cisco also announces new innovations in cloud-managed networking, delivering on its promise to help customers simplify their IT operations. With powerful new cloud management tools for industrial IoT applications, simplified dashboards to converge IT and OT operations, and flexible network intelligence to see and secure all industrial assets, Cisco delivers a unified experience that provides true business agility.Building a Technology-Driven Approach to SustainabilityCisco is announcing Carbon Emissions Insights in its Webex Control Hub that delivers actionable insights allowing organizations to meet their sustainability goals. It is the first of its kind to provide scope 2 emissions reporting and recommendations for optimizing energy consumption and usage of Cisco Webex devices in the collaboration industry.Cisco's commitment to sustainability beyond its own emissions will come to life in Amsterdam through a showcase of its sustainability solutions portfolio, including: The Cisco Refresh and Cisco Green Pay programsEnergy-saving dashboards focused on visibility and automationAn interactive sustainability simulator where attendees can see the impact of each solution on a model networkEmpowering 10 Million People in EMEA with Digital and Cybersecurity SkillsAccording to World Economic Forum, by 2025, advances in technology and automation will eliminate 85 million jobs while creating 97 million new jobs globally. Digital skills become essential for a robust digital economy, so communities can continue to innovate, grow, and compete globally.At the event, Cisco announces its goal to train 10 million people across EMEA in digital and cybersecurity skills over the next 10 years, through its Networking Academy program. This is a part of Cisco's 10-year plan to empower 25 million people worldwide with the digital skills they need to design, manage, and safeguard the vital digital systems our societies rely on.About CiscoCisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future.Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.Contact:Niaobh LevestamTel: +44 7919 605660Email: nlevesta@cisco.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CSCO/2023.02.09/Cisco : SE Labs 2023 Annual Security Report Names Cisco as Best Next Generation Firewall.txt b/news/CSCO/2023.02.09/Cisco : SE Labs 2023 Annual Security Report Names Cisco as Best Next Generation Firewall.txt new file mode 100644 index 0000000000000000000000000000000000000000..adcfb99717e8eb975320eb64ba94d4f034eaa83f --- /dev/null +++ b/news/CSCO/2023.02.09/Cisco : SE Labs 2023 Annual Security Report Names Cisco as Best Next Generation Firewall.txt @@ -0,0 +1,66 @@ + + + + Cisco is honored to be the only security vendor to receive the Best Next Generation Firewall Award in the SE Labs 2023 Annual Report. This industry recognition validates Cisco's journey to reimagine the firewall as the foundation of a truly integrated security platform. I'm incredibly proud of the Cisco Secure Firewall team and our amazing customers who continue to develop their network security around our firewall. + + + SE Labs, a cybersecurity testing and evaluation firm, provides impartial and independent assessments of various cybersecurity products and solutions. In their 2023 Annual Report, SE Labs states: + + +"Our Annual Security Awards recognizes security vendors that not only do well in our tests, but perform well in the real world with real customers. These awards are the only in the industry that recognize strong lab work combined with practical success." + + + As a worldwide leader in networking and security, Cisco is better positioned than any other security vendor to incorporate effective firewall controls into your infrastructure - anywhere your data and applications reside. It offers a comprehensive security solution that integrates multiple security technologies into a single platform, providing the highest level of protection against various cyber threats. It also leverages advanced threat intelligence, machine learning, and other robust technologies to provide real-time protection against cyberattacks. + + + + Cisco Secure Firewall threat-focused NGFW architecture enables superior visibility and control over network traffic. Many security practitioners today struggle with a lack of visibility into encrypted traffic, which is why Cisco has developed our encrypted visibility engine to detect threats in encrypted traffic - without decryption. The firewall also provides detailed reporting and analysis, enabling organizations to gain insights into their network traffic, applications, and assets to identify potential security risks. + + + Cisco Secure Firewall capabilities provide a unified security posture across the entire network. This is achieved through its integration with other security technologies, such as web security, email security, and cloud security through our SecureX platform. This integration reduces threat management and investigation requirements, while simultaneously improving accuracy. + + + Designed to be highly scalable and flexible, Cisco Secure Firewall is suitable for organizations of all sizes and industries. It is a highly efficient solution that can easily be customized to meet the specific needs of each organization. This makes it an ideal choice for organizations that are looking to streamline their security operations and reduce their overall security costs. + + + + In the constantly evolving world of cybersecurity, it is important to have access to the latest and most advanced technologies to stay ahead of threats. Whether you are a small business, a large enterprise, or a government organization, Cisco Secure Firewall provides the advanced security capabilities you need to protect your assets and minimize the risk of cyberattacks. + + + When you invest in Cisco Secure Firewall, you are investing in an award-winning foundation that provides you with the strongest security posture available. Learn more about SE Labs 2023 Annual Report, Cisco Secure Firewall and how you can refresh your firewall. + + +We'd love to hear what you think. Ask a Question, Comment Below, and Stay Connected with Cisco Secure on social! + + +Cisco Secure Social Channels + + +Instagram +Facebook +Twitter +LinkedIn + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 09 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2023 22:05:02 UTC. + + diff --git a/news/CSCO/2023.02.09/Cisco and Bank of America Securities to Host Internet for the Future Tech Talk.txt b/news/CSCO/2023.02.09/Cisco and Bank of America Securities to Host Internet for the Future Tech Talk.txt new file mode 100644 index 0000000000000000000000000000000000000000..47ddda0e2a63e73bc75f81e59d9a2c5e1d1f6a5b --- /dev/null +++ b/news/CSCO/2023.02.09/Cisco and Bank of America Securities to Host Internet for the Future Tech Talk.txt @@ -0,0 +1,37 @@ + + +SAN JOSE, Calif., Feb. 9, 2023 /PRNewswire/ -- Cisco will host a Tech Talk with Bank of America Securities to discuss Cisco's latest innovations to help our customers and partners deliver 5G and Wi-Fi experiences to connect everything, everywhere. Jonathan Davidson, Executive Vice President and General Manager of Cisco Networking will be answering questions during the session which will be broadcast from Mobile World Congress, Barcelona. Interested parties can find more information on Cisco's Investor Relations website at https://investor.cisco.com/. + + + + + + + +No new financial information will be discussed on this conference call. +Date:Monday, February 28, 2023 +Time:7:00 am PT / 10:00 am ET / 4:00 pm CET +Cisco Speaker:Jonathan Davidson, Executive Vice President and General Manager, Cisco Networking +Moderator:Tal Liani, Managing Director, Bank of America Securities   +REGISTER HERE +This event will be webcast live and a replay will be available for one month at investor.cisco.com. +About Cisco +Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter. +Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. +Investor Relations Contact: +Press Contact:      +Emily Hunt +Robyn Blum +Cisco +Cisco +(44) 208 824 4283 +408-853-9848 +emhunt@cisco.com +rojenkin@cisco.com +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cisco-and-bank-of-america-securities-to-host-internet-for-the-future-tech-talk-301742634.html +SOURCE Cisco Systems, Inc. + + diff --git a/news/CSCO/2023.02.13/A snag in the smooth plan?.txt b/news/CSCO/2023.02.13/A snag in the smooth plan?.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d71f37c0eefd87672e872dda20901cb34430347 --- /dev/null +++ b/news/CSCO/2023.02.13/A snag in the smooth plan?.txt @@ -0,0 +1,53 @@ + +When I talk about a decline, I am talking about a relatively moderate decline: we are still a long way from the sharp drops of the summer of 2022. Investors have been showing some restraint for a few days. Let's take advantage of this to make a quick assessment. On the Western markets, highly leveraged indexes have exploded to the upside - understanding those that overreact to periods of increase - like the gains of more than 12% made since January 1st by the American Nasdaq 100 or the Italian FTSE MIB. The German DAX, the French CAC and the American S&P500 are all up between 6 and 10%. At the back of the pack, but still in the green, are the more defensive indexes such as the Scandinavian OMX Nordic 40 or the Swiss SMI. + + + +Ranking of a few indexes since the beginning of January + +After a strong start to the year, the stock markets stalled last week, having already shown signs of losing steam in early February. Investors no longer seem as convinced that the US central bank will return to a more accommodative policy. in the coming months regarding its rate policy. The Fed wants to slow the economy to make sure that inflation is under control, but some indicators remain consistently strong. The central bank still believes that it is better to have a momentarily slow economy and dissipating inflation than a strong economy with high inflation. Economics is subject to varying interpretations and theories. But we have to go along with it, since it is the prevailing trend. +The return of fears about the Fed's monetary intentions is visible in the bond market. It was a little slow to react, but the yield on the 10-year US government bond has risen to 3.73%. It had fallen to 3.3% less than a month ago, when investors stopped listening to the cautious words of the US central bank to focus on their own scenario. The same can be said for the dollar, which is back on its one-month highs. This tension will probably find an outlet tomorrow with the release of the US inflation figures for January. Economists expect the pace of annual price increases to slow from 6.5% to 6.2%. However, there will be a subtlety to keep in mind. While prices are falling over the course of a year, they should have risen between December and January. There are several reasons for this, including seasonality and some changes in the weights of official components. Psychologically, the figures released tomorrow at 8:30 am are therefore likely to have a greater impact, especially if they help to invalidate the "blue sky" scenario that investors took on at the beginning of the year. Personally, I have no idea what kind of sauce we will be served. But neither do most intelligent people, so there is a real element of uncertainty to this release, perhaps more so than in previous weeks when data was piling up in support of inflationary de-escalation. + +I complete with some important information to start the week: + +The human toll from the earthquake that struck Turkey and Syria a week ago has risen to over 30,000 dead. +In North America, a new object was shot down on the border between the United States and Canada, possibly an observation balloon. Washington said it had strengthened and refined its radar capabilities to explain the increase in interceptions. Taiwan has indicated that it frequently encounters balloons of Chinese origin in its airspace. +In Cyprus, the former head of diplomacy Nikos Christodoulides won the presidential election. +In Germany, Olaf Scholz' party was defeated in a local election in Berlin. +In Ukraine, Russia is tightening its grip on Bakhmut, apparently at the cost of heavy casualties. +Oil is stabilizing after rallying late last week on news of a Russian production cut, which boosted stocks in the sector. +The agenda of corporate results is still very full with some great names this week, including, in chronological order, Coca-Cola, Airbnb, Zoetis, Cisco, Glencore, Kering, Heineken, Nestlé, Airbus, Schneider, Applied Materials, Air Liquide, Pernod Ricard, Hermès or Mercedes. + + +Economic highlights of the day: + + +No major statistics in sight today. All the agenda here. + +The dollar is up to 0.9368 EUR. Gold is trading at 1860 USD per ounce. Oil remains firm, with North Sea Brent crude at USD 86.07 a barrel and US WTI light crude at USD 79.60. The yield on 10-year US debt is back up to 3.73%. Bitcoin has fallen back below 22,000 USD. +  +In corporate news: + +* Boeing - Air India has sealed a landmark order from the U.S. aircraft manufacturer and Airbus for about 500 aircraft worth more than $100 billion at list price. +* Meta, Facebook's parent company, delayed finalizing budgets for several of its teams as it prepares for another round of job cuts. +* Tesla - The U.S. Department of Transportation is expected to pressure Tesla to unlock its network of electric vehicle chargers in the U.S. to take advantage of the subsidies, as part of an effort to equip the country with 500,000 electric vehicle chargers in the coming years. +* PayPal has suspended work on its stablecoin cryptocurrency, which it had hoped to launch in the coming weeks, as regulators step up scrutiny of cryptoassets and a key partner in the project faces an investigation by the New York State Department of Financial Services. +* Ford is expected to announce plans as early as Monday to build a $3.5 billion lithium iron phosphate (LFP) battery plant in Michigan with China's CATL Group. +* Jetblue Airways, Spirit Airlines - The U.S. Department of Justice (DOJ) is likely to file a lawsuit to block the merger between the two airlines, Politico reported Friday, citing five people familiar with the matter.  + + +Analyst recommendations: + +Advance Auto Parts: Roth MKM downgrades to neutral from buy. PT down 7.8% to $140. +Capri Holdings:Cowen cut the recommendation to market perform from outperform. PT down 10% to $55. +Caterpillar: Baird downgrades its recommendation to neutral from outperform. Price target set to $230. +Crest Nicholson: Deutsche Bank cut the recommendation to hold from buy. PT set to 243 pence. +Expedia: Susquehanna Financial raised the target to $116 from $100. Maintains neutral rating. +Masco: Deutsche Bank upped the goal to hold from sell. Price target set to $56. +Persimmon: Deutsche Bank decrease its price target by 15% to 1,267 pence. +Ralph Lauren: BofA Global Research raised the recommendation to buy from neutral. PT set to $145. +Vesuvius: Panmure Gordon & Co Limited initiated coverage with a recommendation of buy. PT increases by 41%, set to 565 pence +XPO: Morgan Stanley moved to equal-weight from overweight. PT upgrades 22% to $43. + + + diff --git a/news/CSCO/2023.02.13/Cisco : A love letter to planet Earth.txt b/news/CSCO/2023.02.13/Cisco : A love letter to planet Earth.txt new file mode 100644 index 0000000000000000000000000000000000000000..7891244aad3e0a7fd79205a6665735725af17ca4 --- /dev/null +++ b/news/CSCO/2023.02.13/Cisco : A love letter to planet Earth.txt @@ -0,0 +1,132 @@ + + + + I grew up 228 miles northwest of New York City in a rural village dotted with small farms. It was in this environment that I felt closest to planet Earth. I spent summers barefoot, with my toes between blades of grass. At night I could hear the small chorus frogs (also known as the spring peeper) while fireflies danced in the field behind our house. My third-grade teacher would take us on long walks in the woods, sharing her knowledge about every insect, animal, and plant we saw. My mom carefully tended her garden, growing lots of healthy vegetables for us to eat and composting leftover scraps. + + + I didn't feel a distinct separation between nature and our home life because we could open our windows or doors and instantly experience singing birds, swaying trees, and rolling hills. When I went away to college and moved to a more urban environment, I felt pulled away from that oneness with Earth. I now had to make an effort to spend time outside or walk in the woods. And when I started my career, sometimes I felt like I didn't have the time or energy to immerse myself in nature. I still did some small acts of kindness for Earth, like recycling, unplugging devices I wasn't using, or taking cloth bags to the grocery store. As the news about climate change grew worse, I started to feel guilty. I had the privilege of enjoying all the beauty and resources that planet Earth offers us but didn't take enough actions to improve her health. + + + Now working on sustainability communications, I'm working more closely with issues around the climate crisis. At the same time, I also see dedicated people working hard to make a difference for the planet. Collaborating with these amazing individuals across Cisco is not only inspiring but motivating as well. There is the saying that "actions speak louder than words," so instead of continuing to profess my love for Earth, I want to share five actions Cisco is taking to help create a more sustainable and regenerative future for our planet: + + +Cisco's net zero goal + + + According to the U.S. Environmental Protection Agency ( "EPA"), heat is retained in the atmosphere because greenhouse gas ("GHG") emissions trap some of Earth's outgoing energy. This trapped heat alters climate and weather patterns, which can lead to more frequent and more severe natural disasters like hurricanes, floods, and droughts. + + + Net zero is a state where we add no incremental GHGs to the atmosphere. In September 2021, Cisco set a goal to reach net zero GHG emissions across its value chain by reducing our absolute Scope 1, 2, and 3 emissions 90% by 2040 compared to our 2019 fiscal year, and neutralizing any remaining emissions by removing an equal amount from the atmosphere. And, we have near-term targets that support the net zero goal that you can learn more about in Cisco´s 2022 Purpose Report and related supplemental information located on our environmental, social, and governance ("ESG") Reporting Hub. + + + Cisco's 2040 net zero goal and near-term targets are approved by the Science Based Targets initiative ("SBTi") under its Net-Zero Standard. SBTi validation means we must prioritize deep emissions reductions required by climate science, and can use offsets for no more than 10 percent of our emissions reduction. + + +Improving product energy efficiency + + + As a large, global company, we want to do our part to decrease the GHG emissions associated with our business and help our customers do the same. + + + Because many of our products operate 24/7 and stay in use for several years, the majority of our emissions result from our customers' use of our products. Cisco is looking into how our products can use less energy while performing at the same standard. According to the U.S. Office of Energy Efficiency & Renewable Energy, one of the easiest and most cost-effective ways to address climate change is through energy efficiency. + + + To reduce the emissions associated with the use of our products, we are making improvements in four key areas: power; thermal (i.e., the heat they generate); high-speed interconnects and Application-Specific Integrated Circuits ("ASICs"); and integration into our customer facilities (read more in our Purpose Report and ESG Reporting Hub). + + +Reducing our use of plastics + + + According to the United Nations Environmental Programme ("UNEP"), around "7 billion of the 9.2 billion tonnes of plastic produced from 1950-2017 became plastic waste, ending up in landfills or dumped." + + + Virgin plastics are made from materials that have never been used or processed. In fiscal year 2021, we exceeded our goal to decrease use of virgin plastics in products by 20% compared to a fiscal year 2018 base year. Building on the momentum and key learnings from this goal, we recently set a new goal that by our fiscal year 2025, 50% of the plastic used in our products (by weight) will be made of recycled content. The plastics included in this goal exclude those contained in commodity components sourced from suppliers (e.g., plastic screws, fans, and cables). + + + As part of our journey to minimize the use of virgin plastic, our teams are sourcing more recycled plastic parts and designing our products to reduce the need for plastic parts more generally. For example, select models of our 8800 Series IP phones consist of 68% recycled plastic, and some products in our Catalyst series of network switches were designed without bezels, the plastic cosmetic surface on the outside of a device. + + +Increasing our use of renewable electricity + + + According to the UN, the main cause of climate change is society's reliance on energy generated from fossil fuels, and renewable energy like wind and solar can help us tackle the climate crisis. + + + Cisco operations account for only 1% of our total GHG emissions. However, we remain committed to reducing GHG emissions in our operations by procuring renewable electricity and improving the efficiency of our offices, laboratories, and data centers. + + + Increasing our use of renewable electricity is a fundamental part of our strategy. In fiscal year 2022, 89% of our global electricity came from renewable energy sources, including 100% in the United States, Canada, and several European countries. We are ramping up both our onsite and offsite renewable energy efforts, targeting approximately 5 MW of new onsite solar and securing over 500 MW of new long-term renewable energy contracts by the end of fiscal year 2025. We are actively evaluating long-term power purchase agreements ("PPAs") in India and Europe that would collectively add over 100 MW of new solar and wind developments to these regions. + + +Making it easy to return products for reuse and recycling + + + According to the UNEP, "The world produces as much as 50 million tonnes of electronic and electrical waste (e-waste) a year, weighing more than all commercial airliners ever made. Only 20% of this is formally recycled." + + + Cisco has had programs for over two decades to facilitate product returns for reuse and recycling, offer comprehensive service and repair, and remanufacture used equipment for sale through Cisco Refresh. These programs can create a second life for equipment, saving the resources required for new manufacturing and reducing waste. + + + In fiscal year 2022, Cisco Capital launched Cisco Green Pay, a circular IT payment solution that makes it easier for customers to build a sustainable technology strategy. It provides a path for customers of all sizes to acquire Cisco sustainable solutions. The program offers predictable payments for five years, with a 5% incentive on equipment at the outset, while Cisco retains ownership. This and our other long-standing programs focused on product return and reuse help us make progress toward our PACE Capital Equipment pledge. + + +Steps you can take to show planet Earth that you care + + + Want to give planet Earth some love today and every day? Here are ten actions from ActNow, a UN campaign for individual action on climate change, that you can take: + + + +Save energy at home by using LED light bulbs, washing laundry with cold water, and switching to energy-efficient appliances. + + +Walking, biking, or taking public transit will reduce GHG emissions, and carpooling is also an option when you need to use a vehicle. + + +Eating more vegetables can significantly lower your environmental impact since plant-based foods can be produced with less energy, land, and water. + + +Consider how you travel, especially since airplanes burn large amounts of fossil fuels. When you can, meet virtually or avoid long-distance trips. + + +Throw away less food because food that ends up in a landfill produces methane, a potent GHG. It is best to only buy what you need and compost leftovers. + + +Reduce, reuse, repair and recycle when you can because electronics, clothing, and other things we buy cause carbon emissions at each point in their production. + + +Change your home's energy source by installing solar panels on your roof or asking your utility company for other renewable options. + + +Switch to an electric vehicle ("EV") to help reduce air pollution since EVs cause significantly less GHG emissions. + + +Make your money count by purchasing from companies that use resources responsibly and are committed to reducing emissions and waste. + + +Speaking up and getting neighbors, colleagues, friends, and family to take action is one of the simplest and most effective ways to make a difference. + + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 13 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2023 14:07:03 UTC. + + diff --git a/news/CSCO/2023.02.13/Cisco : Experience the Power of Simplicity with these Cisco SD-WAN Upgrades.txt b/news/CSCO/2023.02.13/Cisco : Experience the Power of Simplicity with these Cisco SD-WAN Upgrades.txt new file mode 100644 index 0000000000000000000000000000000000000000..676f6a43125f631210aa14ccfd835bfcb3e42d92 --- /dev/null +++ b/news/CSCO/2023.02.13/Cisco : Experience the Power of Simplicity with these Cisco SD-WAN Upgrades.txt @@ -0,0 +1,76 @@ + + + + As of 2022, the average business deploys over 110 SaaS applications throughout its network, with that number being significantly higher for enterprise companies. The daily life of IT professionals often consists of an endless array of open tabs sprawling across various screens and interfaces to monitor and maintain all those applications. + + + Navigating through dozens of these different interfaces each day can be mentally draining, and while it may not be in the Oxford Dictionary yet, app fatigue is a very real thing. Complicated dashboards and over-the-top user interfaces are likely the cause of this phenomenon and the exact opposite of what to expect with Cisco SD-WAN. + + + Simplicity is the North Star of Cisco SD-WAN and while complexity creeps into many aspects of both UI and network management - it gets stopped at the door with the Cisco vManage dashboard. Over the last year or so, we've had a concentrated focus on enhancing the interface to simplify processes for IT personnel. In our latest release, we have rolled out a variety of UX and UI enhancements such as template-based automation that enables network operators and IT personnel to centrally automate the configuration, management, and monitoring of the entire SD-WAN fabric - all in a highly visualized and simplified manner. By eliminating the complexity of an often-complicated system, Cisco vManage provides an easy-to-use dashboard that is backed by some serious technical excellence. + + +Simplified Hybrid Work Management + + + Managing a network with scattered employees has proved to be a daunting task over the last few years. Top that with the increasing number of apps and devices the average employee uses, and you are left with a slippery slope when it comes to a hybrid workforce. Cisco recognized this problem and now offers the integration of Cisco Catalyst Wireless Gateway (CG113) with Cisco SD-WAN Remote Access (SD-WAN RA) which extends all the benefits of Cisco SD-WAN to your remote workers. IT managers can also now leverage vManage to automate the management of SD-WAN RA. + + +Performance for the Most Demanding Situations + + + Aside from the software enhancements listed above, Cisco is proud to announce a new model in the Catalyst 8500 Series. The Catalyst 8500-20X6C complements our existing edge aggregation platforms with up to 3x greater performance, the highest-speed interfaces in its class, and increased hardware-optimized network services - all driven by Cisco's very own customized QFP 3.0 ASICs. This high-end platform is perfect for large core and campus locations, including colocation facilities that require aggregation points to act as a central connection hub for distributed sites where remote workers reside. + + + The speed improvements do not end there, Cisco is also announcing the much-anticipated UCS E-Series M6 compute module which will be orderable in the first half of the calendar year 2023. This module extends the Cisco UCS standalone M6 servers to edge environments with twice the processing horsepower and 10 times greater I/O capacity compared to previous generations. IT teams can seamlessly deploy process-intensive business applications and network services directly into the Catalyst 8300 Series Edge routing platform for remote/branch locations where space and technical expertise may be limited. + + + Along with the new features from our Catalyst 8500-20X6C router, we have also released enhancements to increase throughput for on-premises Catalyst 8000V Edge Software. The Catalyst 8000V's new 16 vCPU on-premises image allows you to connect your branch to the cloud using SD-WAN at higher speeds, so you can spend less time deploying multiple routing instances. + + +Cisco+ Secure Connect with Viptela + + + To simplify network security and policy management, Cisco's unified SASE solution, Cisco+ Secure Connect, now supports integration with Cisco SD-WAN fabrics using Viptela technology. Cisco SD-WAN customers now have access to fast, secure private applications and internet access, enabling them to deliver a secure experience to their employees anywhere. + + + This unified solution converges networking and security to provide customers with a single platform and a streamlined operational model that simplifies and scales the visibility, management, and control over a hybrid work environment. This converged operating model also provides IT teams with enhanced visibility and control over the network, making the experience easy for them to manage. + + +Innovations Across the Board + + + Simplicity is truly the focus of all our new product introductions. Between all the fancy hardware and sophisticated subscription-based software on the market, we understand the importance of creating powerful networking products that deliver cutting-edge performance, while simplifying your daily life and this latest release is the epitome of that. Our mission is to shape the future of the Internet by creating unprecedented value and opportunity - and to do so, we continue to respond to what our customers need the most. + + +Additional Resources + + +View Cisco SD-WAN Routers + + +Read more Cisco SD-WAN blogs + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 13 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2023 17:07:00 UTC. + + diff --git a/news/CSCO/2023.02.14/Cisco : How an Unexpected Conversation Launched My Cisco Career Journey.txt b/news/CSCO/2023.02.14/Cisco : How an Unexpected Conversation Launched My Cisco Career Journey.txt new file mode 100644 index 0000000000000000000000000000000000000000..d5e2a8fbac453a9311f3901dfb8ea6e38ca5a9a4 --- /dev/null +++ b/news/CSCO/2023.02.14/Cisco : How an Unexpected Conversation Launched My Cisco Career Journey.txt @@ -0,0 +1,59 @@ + + + + When I entered the workforce, Cisco was never on my radar. I was complacent at the company I worked for and had every intention of retiring from that company. I felt I had everything I could want. + + + One day, while taking my son to a birthday party, I had a conversation with another woman who worked for Cisco. As we exchanged dialogue, she invited me to explore her role and encouraged me to apply for an open High Touch Operations Manager (HTOM) position. I had no intentions of leaving the company I was working for, but I decided to at least apply for the role to sharpen my interviewing skills. Little did I know, this unexpected conversation would lead to a fantastic career journey. + + + When I went through the interview process, there was something different about Cisco. Maybe it was the warm greeting from the lobby ambassador or the joy I felt watching engineers from the technical assistance center (TAC) playing in the game room to let off steam. Or maybe it was the nap pods I witnessed, which allowed employees to take a nap to recharge their brains. Whatever it was, everything about the culture of the company excited me. I gladly accepted the offer because I wanted Cisco to be my new home. Almost 15 years later, I'm still here and loving it. + + + Although I started as a High Touch Operations Manager, I had the opportunity to move into various roles within the company, including service delivery roles. I was serving as a Services Operational Leader, supporting one of our sales territories, when I decided to take a leap of faith and accepted a position totally out of my comfort zone. I was promoted to Director and moved into a role supporting a team responsible for the go-to-market strategy for a few of our Cisco Managed Services. It was exciting and scary all at the same time, but I was up for the challenge. I had a phenomenal team of high performers. All my immediate direct reports were in the UK, and it was an excellent opportunity to expand my global leadership capabilities while also learning and stretching myself. + + + Then one day, a rebalance occurred, and the team was dismantled. It was an unexpected turn of events for our team, but it allowed me an opportunity to move into the role I am in today. + + + Now, I am the Community Leader for more than three thousand managers across the globe as part of one of our larger business units, combining Operations and Customer Experience. In this role, I work with our enablement teams and People and Communities (HR) to ensure our managers have everything they need to succeed. I also act as the community's voice back to our senior leadership. Another great thing about the opportunity is working with a fantastic team of other global community leaders. + + + Creating a sense of community for managers has been my sweet spot. I never imagined having an opportunity where I could utilize my passion for helping others while also creating opportunities to focus on leadership development, well-being, etc. If you had told me five years ago that I would have this type of role, I probably would not have believed it. + + + + I love the culture of the company. Not only do Cisco employees have the ability to find roles that meet our strengths, but we also have the opportunity to serve in stretch assignments that align with our passion. I was the Global Co-Leader for Our Connected Black Professionals Inclusive Community for many years. I now serve as the Global Wellbeing Leader for the community. Why does this stretch assignment excite me? Outside of Cisco, I have a passion for health and wellness. This stretch assignment has given me the ability to take my passion to the workplace. I created a global well-being strategy for the community, including physical, emotional/mental, financial, and social well-being. I now have a team working and developing strategic programs specifically for our Inclusive Community as it relates to these focus areas. As if that's not fun enough, I also work with our Historically Black Colleges and Universities (HBCUs) Social Justice team, serving as an Executive Sponsor for two HBCUs. The ability to balance my daily work activities with these stretch assignments gives me a satisfaction that I never expected in Corporate America. + + + I previously felt I had everything I could want at work, but now I know how exciting it is when you can work and have a passion for it. It's said you have the opportunity to have many careers at this company. I have lived that through my Cisco journey. I would never have imagined that an unexpected conversation and turn of events would allow me to still be at Cisco in a role impacting many people, while also doing stretch assignments that are so fulfilling. I love what I do, and I'm excited to see where this journey will take me in the future. I suspect this, by far, is not the end of the journey. + + + That's one of the reasons why Cisco is truly a great place to work. + + + Are you ready to start your Cisco career journey? Find an opportunity now. + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2023 13:11:01 UTC. + + diff --git a/news/CSCO/2023.02.15/Cisco : Fiscal Q2 Earnings Snapshot.txt b/news/CSCO/2023.02.15/Cisco : Fiscal Q2 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..dd94f9d8c5bca72dab7aa3dc7796ae1dcfc53074 --- /dev/null +++ b/news/CSCO/2023.02.15/Cisco : Fiscal Q2 Earnings Snapshot.txt @@ -0,0 +1 @@ +SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Cisco Systems Inc. (CSCO) on Wednesday reported fiscal second-quarter profit of $2.77 billion.On a per-share basis, the San Jose, California-based company said it had net income of 67 cents. Earnings, adjusted for one-time gains and costs, came to 88 cents per share.The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.The seller of routers, switches, software and services posted revenue of $13.59 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $13.43 billion.For the current quarter ending in April, Cisco expects its per-share earnings to range from 96 cents to 98 cents.The company expects full-year earnings in the range of $3.73 to $3.78 per share.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSCO at https://www.zacks.com/ap/CSCOFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/CSCO/2023.02.15/Cisco : Introduces 100G Service Edge To The Catalyst 8500 Family.txt b/news/CSCO/2023.02.15/Cisco : Introduces 100G Service Edge To The Catalyst 8500 Family.txt new file mode 100644 index 0000000000000000000000000000000000000000..c7f7ad075445ff1fa5ec2e3bc8fc366a7de1f847 --- /dev/null +++ b/news/CSCO/2023.02.15/Cisco : Introduces 100G Service Edge To The Catalyst 8500 Family.txt @@ -0,0 +1,105 @@ + + + + Vrrroooom! Vvrrrrooooom! Did you hear the rumble? The fastest Catalyst 8500 Series Edge Platform with four times more horsepower is ready to tear up the road! Cisco just launched its highest-performing Catalyst 8500 Series Edge Platform- C8500-20X6C. + + + Architects today want to build networks that deliver the best secure application experience at scale, with better power efficiency. Cisco Catalyst 8000 Series Edge Platforms are designed to make this happen. In particular, the C8500-20X6C has highly scalable feature sets for Routing and SD-WAN deployments. It is the ideal platform for Multi-Tenant Edge/Hub, Colocation hosted Multi-Cloud Gateway, Border Router in Multi-Region Fabric (MRF), SD-WAN Remote Access aggregation, IPsec Gateway for Private 5G-IoT endpoints, multi-cloud services edge, and more… + + + Built using the third generation of QuantumFlow Processor (QFP), the latest addition to the portfolio inherits feature parity with the existing Catalyst 8500 Series, comes with built-in high-density, high-speed 100/40GE interfaces and offers hundreds of Gigs of scalable services. + + +Deploy WAN Innovations At Scale + + + Cisco SD-WAN offers best-in-class features for modern WAN environments in a multitude of architectures. The C8500-20X6C is a highly flexible and scalable SD-WAN headend. With 100Gbps aggregate IMIX performance, it simplifies network designs eliminating the complexity of horizontal scale-out. In a Multi-Region Fabric deployment, it can be deployed as a Border Router to increase fabric scale and span across multiple regions. Multi-Tenancy (MT) is another great innovation for sharing the C8500-20X6C platform hardware among multiple tenants in a colocation deployment. Complete isolation of control and data plane is offered for each tenant within a shared physical platform configured as MT-Hub, MT-Gateway, or MT-Edge. + + + When used as SD-WAN Remote Access (SD-WAN RA) aggregation edge, it allows remote users to enter the fabric at the nearest entry point and benefit from an SD-WAN-driven application experience. Unlike other industry remote access solutions, the Cisco SD-WAN RA solution provides a consistent policy and user experience regardless of whether users are inside the office or at a remote location while offering the lowest TCO. + + + On routing edge deployments, the C8500-20X6C offers secure WAN aggregation and scalable endpoint aggregation for Private 5G-IoT using well-established VPN technologies. It can be used for DCI (Data Center Interconnect), SD-Access, and Network Infrastructure use cases with higher performance. + + + C8500-20X6C can operate as a service edge for private cloud infrastructures. It could also be a multi-cloud gateway placed in a colocation space offering high-scale services. + + +What Makes C8500-20X6C An Industry-Leading Services Edge Platform? + + + Two important dimensions for service edge platforms are data plane and control plane performance and scale. + + + A total of 3584 threads from 896 Packet Processing Engines (PPEs) in an intelligently meshed 4 QFP complex form the data plane for applying accelerated services. A high-speed 8-core Intel CPU is used for the control plane and adds a boost to control functions. Intel's QuickAssist Technology (QAT) enables faster IPsec session creation. Two mirrored 160Mb TCAMs enable lightspeed classification rules for accelerated policy executions in the data plane offering increased services scale. + + + The C8500-20X6C has six QSFP28 ports for 100/40Gbps and twenty SFP+ ports for 10/1Gbps ethernet connectivity. All interfaces can be enabled and used simultaneously. They offer line rate MACsec for path encryption and Synchronous Ethernet for network-timing needs. The platform is built with sufficient buffering ability to handle I/O over-subscription and ensure traffic prioritization. + + + The platform offers more x86 cores for edge-compute service planes to host KVM and LXC applications including ThousandEyes monitoring. + + +A Secure Platform You Can Trust + + + The C8500-20X6C is trustworthy. It implements Trust Anchor module, Secure Boot, image signing, and runtime defenses to protect against modern cyber-attacks. + + + There are 64 crypto engines inside the QFP data plane. The crypto engines have dedicated resources for encryption and their use does not impact non-encrypted traffic. The digest and cipher algorithm instructions are built for scale. The cryptography occurs in line with the forwarding functions to deliver 'hardware accelerated' multi-hundred gig crypto performance. + + +Helping Achieve Your Sustainability Goals + + + Often customers end up deploying scale-out architectures with multiple boxes when the aggregation performance needs cannot be met by a single device. In today's business environment, sustainability is a key goal, usually measured as 'Performance-to-Power' ratio. Using one high-performance C8500-20X6C vs multiple services platforms, customers can recognize up to 60% reduction in power per Gbps which will help organizations reach their energy efficiency goals. + + +Add Muscle To Your Network With C8500-20X6C + + + In summary, the C8500-20X6C will help flex your network's performance boundaries to a new level. + + + + Raw packet processing power, hardware-accelerated crypto, and scalable services offer the necessary muscles for evolving edge networking use cases. + + + Trustworthy solutions strengthen the platform against unforeseen network attacks. + + + All of this with healthier power efficiency… a greener way for a scalable future! + + + +Learn more about + + +Additional Resources + + +Catalyst 8500 Platform Data Sheet + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 16:16:03 UTC. + + diff --git a/news/CSCO/2023.02.15/Cisco : Q2FY23 Earnings Conference Call.txt b/news/CSCO/2023.02.15/Cisco : Q2FY23 Earnings Conference Call.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a3f68f2012f62dbfff3f17ae150398b288fe5f7 --- /dev/null +++ b/news/CSCO/2023.02.15/Cisco : Q2FY23 Earnings Conference Call.txt @@ -0,0 +1,82 @@ + + + + Cisco's Q2FY23 Earnings Conference Call + + + +February 15, 202301:30 PM PT + + + +Add to Calendar + + +Add to Apple Calendar + + +Add to Google Calendar + + +Add to Microsoft Outlook + + +Add to iCalendar + + + + +Webcast + + +Press Release(opens in new window)PDF320 KBQ2FY23 Earnings Slides(opens in new window)PDF302 KB + + + + + + + Forward-Looking Statements + + + This presentation may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," estimates and similar expressions) should be considered to be forward-looking statements, although not all forward-looking statements contain these identifying words. Readers should not place undue reliance on these forward-looking statements. Forward-looking statements may include statements regarding the expected benefits to Cisco, Acacia[1] and their respective customers from completing the acquisition, integration of Acacia's technology into Cisco's networking portfolio, accelerating the trend toward coherent technology and pluggable solutions, supporting Acacia's current merchant business, including Acacia's existing customers and new customers, and the expected completion of the acquisition. Statements regarding future events are based on the parties' current expectations and are necessarily subject to associated risks related to, among other things, the risk that the proposed acquisition may not be completed in a timely manner, or at all, which may adversely affect Acacia's business and the price of its common stock, obtaining Acacia's stockholder and regulatory approval of the acquisition or that other conditions to the closing of the transaction may not be satisfied, the effect of the announcement or pendency of the proposed acquisition on Acacia's business, operating results, and relationships with customers, suppliers, competitors and others, risks that the proposed acquisition may disrupt Acacia's current plans and business operations, risks related to the diverting of management's attention from Acacia's ongoing business operations, the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement, the outcome of any legal proceedings related to the transaction, general economic conditions, the retention of employees of Acacia and the ability of Cisco to successfully integrate Acacia's market opportunities, technology, personnel and operations and to achieve expected benefits. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. For information regarding other related risks, see the "Risk Factors" section of Cisco's most recent reports on Forms 10-Q and 10-K filed on May 21, 2019 and September 6, 2018, respectively, as well as the "Risk Factors" section of Acacia's most recent reports on Form 10-Q and Form 10-K filed with the SEC on May 2, 2019 and February 21, 2019, respectively. The parties undertake no obligation to revise or update any forward-looking statements for any reason. + + +Additional Information and Where to Find It + + + In connection with the proposed acquisition and required stockholder approval, Acacia[2] will file with the Securities and Exchange Commission a preliminary proxy statement and a definitive proxy statement. The proxy statement will be mailed to the stockholders of Acacia. Acacia's stockholders are urged to read the proxy statement (including all amendments and supplements) and other relevant materials when they become available because they will contain important information. Investors may obtain free copies of these documents (when they are available) and other documents filed with the SEC at its website at www.sec.gov. In addition, investors may obtain free copies of the documents filed with the SEC by Acacia by going to Acacia's Investor Relations page on its corporate website at http://ir.Acacia-inc.com or by contacting Acacia Investor Relations at (212) 871-3927. + + + Acacia and its executive officers and directors may be deemed to be participants in the solicitation of proxies from Acacia's stockholders with respect to the acquisition. Information about Acacia's directors and executive officers, including their ownership of Acacia securities, is set forth in the proxy statement for Acacia's 2019 Annual Meeting of Stockholders, which was filed with the SEC on April 3, 2019, Form 8-K filed with the SEC on June 3, 2019, and Acacia's other filings with the SEC. Investors may obtain more detailed information regarding the direct and indirect interests of Acacia and its respective executive officers and directors in the acquisition by reading the preliminary and definitive proxy statements regarding the transaction, which will be filed with the SEC. + + + In addition, Cisco and its executive officers and directors may be deemed to have participated in the solicitation of proxies from Acacia's stockholders in favor of the approval of the transaction. Information concerning Cisco's directors and executive officers is set forth in Cisco's proxy statement for its 2018 Annual Meeting of Shareholders, which was filed with the SEC on October 24, 2018, annual report on Form 10-K filed with the SEC on September 6, 2018, Form 8-K filed with the SEC on May 22, 2019, and Cisco's other filings with the SEC. These documents are available free of charge at the SEC's website at www.sec.gov or by going to Cisco's Investor Relations website at https://investor.cisco.com. + + + + + Forward-Looking Statements + + + This website and other items we publish, including through social media outlets may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of Cisco that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: the impact of the COVID-19 pandemic and related public health measures; business and economic conditions and growth trends in the networking industry, our customer markets and various geographic regions; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; the growth and evolution of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market and other customer markets; the return on our investments in certain priorities, including key growth areas, and in certain geographical locations, as well as maintaining leadership in Secure, Agile Networks and services; the timing of orders and manufacturing and customer lead times; significant supply constraints; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; our ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; our ability to achieve expected benefits of our partnerships; increased competition in our product and service markets, including the data center market; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and returns; litigation involving patents, other intellectual property, antitrust, stockholder and other matters, and governmental investigations; our ability to achieve the benefits of restructurings and possible changes in the size and timing of related charges; cyber-attacks, data breaches or malware; vulnerabilities and critical security defects; terrorism; natural catastrophic events (including as a result of global climate change); any other pandemic or epidemic; our ability to achieve the benefits anticipated from our investments in sales, engineering, service, marketing and manufacturing activities; our ability to recruit and retain key personnel; our ability to manage financial risk, and to manage expenses during economic downturns; risks related to the global nature of our operations, including our operations in emerging markets; currency fluctuations and other international factors; changes in provision for income taxes, including changes in tax laws and regulations or adverse outcomes resulting from examinations of our income tax returns; potential volatility in operating results; and other factors listed in Cisco's most recent reports on Forms 10-K and 10-Q. The financial information contained on this website or published through social media outlets should be read in conjunction with the consolidated financial statements and notes thereto included in Cisco's most recent reports on Forms 10-K and 10-Q, as each may be amended from time to time. Any forward-looking statements are based on limited information available to Cisco at the time of posting, which is subject to change, and Cisco will not necessarily update the information. + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 22:38:17 UTC. + + diff --git a/news/CSCO/2023.02.15/Cisco : Q2FY23 Earnings Slides.txt b/news/CSCO/2023.02.15/Cisco : Q2FY23 Earnings Slides.txt new file mode 100644 index 0000000000000000000000000000000000000000..5b51fdd46a9fdd616afa25d3803d86edd1672038 --- /dev/null +++ b/news/CSCO/2023.02.15/Cisco : Q2FY23 Earnings Slides.txt @@ -0,0 +1,149 @@ + + + + Q2 Fiscal Year 2023 + + + Conference Call + + + February 15, 2023 + + + + + + Forward-Looking Statements + + + This presentation contains projections and other forward-looking statements regarding future events or the future financial performance of Cisco, including future operating results. These projections and statements are only predictions. Actual events or results may differ materially from those in the projections or other forward-looking + + + statements. Please see Cisco's filings with the SEC, including its most recent filings on Forms 10-K and 10-Q, for a + + + discussion of important risk factors that could cause actual events or results to differ materially from those in the projections or other forward-looking statements. + + + GAAP Reconciliation + + + During this presentation references to financial measures of Cisco will include references to non-GAAP financial measures. Cisco provides a reconciliation between GAAP and non-GAAP financial information on the Cisco Investor Relations website https://investor.cisco.com/financial-information/financial-results/default.aspx + + + + + + + + © 2023 Cisco and/or its affiliates. All rights reserved. Cisco Confidential + + + + + 2 + + + + + + + + + Business Momentum & Key Trends + + + + + + Q2 FY 2023 Highlights + + + +Strong results reflecting solid execution and disciplined financial management + + + + + + +$13.6B revenue and non-GAAP EPS of $0.88 - both above the high end of guidance + + + + +Overall demand environment remained steady + + +Continued progress on business transformation: + + + + +Annualized Recurring Revenue (ARR) of $23.3B, up 6% y/y; Product ARR up 11% y/y + + + + +Software revenue of $4.2B, up 10% y/y; Software subscription revenue up 15% y/y + + + + +Total subscription revenue represented 44% of our total revenue + + + + +Remaining Performance Obligations (RPO) of $31.8B, up 4% y/y; Product RPO up 7% y/y + + + + +Raised our FY2023 outlook - business transformation continued success, RPO of almost $32B, healthy backlog and pipeline, and actions we took to improve supply provided us increased visibility and confidence + + +Record operating cash flow generation of $4.7B, up 93% y/y and $2.8B returned to stockholders + + + + + + + + + © 2023 Cisco and/or its affiliates. All rights reserved. Cisco Confidential + + + + + 4 + + + + + + + + + Financial Overview + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 22:28:06 UTC. + + diff --git a/news/CSCO/2023.02.15/Cisco raises full-year revenue forecast.txt b/news/CSCO/2023.02.15/Cisco raises full-year revenue forecast.txt new file mode 100644 index 0000000000000000000000000000000000000000..0e4901f64e9000c12e959b6d542b66d69f323083 --- /dev/null +++ b/news/CSCO/2023.02.15/Cisco raises full-year revenue forecast.txt @@ -0,0 +1 @@ +The company forecast fiscal 2023 revenue growth between 9% to 10.5%, compared with its earlier forecast of 4.5% to 6.5% growth. (Reporting by Yuvraj Malik in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/CSCO/2023.02.15/Cisco reports second quarter earnings.txt b/news/CSCO/2023.02.15/Cisco reports second quarter earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..06ab9f362e9b5fd900ffed4b5ef79892a0b937e2 --- /dev/null +++ b/news/CSCO/2023.02.15/Cisco reports second quarter earnings.txt @@ -0,0 +1,1376 @@ + + +SAN JOSE, Calif., Feb. 15, 2023 /PRNewswire/ -- + + + + + + + +News Summary: +$13.6 billion in revenue, up 7% year over year; GAAP EPS $0.67, down 6% year over year, and Non-GAAP EPS $0.88, up 5% year over yearContinued progress on business model transformation:Total annualized recurring revenue (ARR) at $23.3 billion, up 6% year over year and product ARR up 11% year over yearTotal software revenue up 10% year over year and software subscription revenue up 15% year over yearRemaining performance obligations (RPO) at $31.8 billion, up 4% year over year and product RPO up 7% year over yearDividend increased 3%  +Q2 FY 2023 Results:Revenue: $13.6 billionIncrease of 7% year over yearEarnings per Share: GAAP: $0.67; Non-GAAP: $0.88GAAP EPS decreased (6)% year over yearNon-GAAP EPS increased 5% year over yearQ3 FY 2023 Guidance:   Revenue: 11% to 13% growth year over yearEarnings per Share: GAAP: $0.74 to $0.79; Non-GAAP: $0.96 to $0.98FY 2023 Guidance:Revenue: 9% to 10.5% growth year over yearEarnings per Share: GAAP: $2.85 to $2.96; Non-GAAP: $3.73 to $3.78Cisco today reported second quarter results for the period ended January 28, 2023. Cisco reported second quarter revenue of $13.6 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.8 billion or $0.67 per share, and non-GAAP net income of $3.6 billion or $0.88 per share. +"With Cisco's strong Q2 performance, our fiscal 2023 is shaping up to be a great year," said Chuck Robbins, chair and CEO of Cisco. "The modern, highly secure networks we are building serve as the backbone of our customers' technology strategy. This, combined with the success of our ongoing business transformation and operational discipline gives me confidence in our future." +GAAP Results +Q2 FY 2023 +Q2 FY 2022 +Vs. Q2 FY 2022 +Revenue +$              13.6 +billion +$              12.7 +billion +7 % +Net Income +$                2.8 +billion +$                3.0 +billion +(7) % +Diluted Earnings per Share (EPS) +$              0.67 +$              0.71 +(6) % +  +Non-GAAP Results +Q2 FY 2023 +Q2 FY 2022 +Vs. Q2 FY 2022 +Net Income +$               3.6 +billion +$               3.5 +billion +3 % +EPS +$             0.88 +$             0.84 +5 % +Reconciliations between net income, EPS, and other measures on a GAAP and non-GAAP basis are provided in the tables located in the section entitled "Reconciliations of GAAP to non-GAAP Measures." +Cisco Increases Quarterly Dividend +Cisco has declared a quarterly dividend of $0.39 per common share, a 1-cent increase or up 3%, over the previous quarter's dividend, to be paid on April 26, 2023 to all stockholders of record as of the close of business on April 5, 2023. Future dividends will be subject to Board approval. +"We continue to execute well, delivering better than expected results in revenue, record non-GAAP EPS and operating cash flow", said Scott Herren, CFO of Cisco. "We are raising our full year outlook driven by our growing recurring revenue base and RPO, along with our healthy backlog and the steps we have taken to improve supply. We have once again increased our dividend, reflecting the strength of our cash flow generation and our commitment to shareholder returns." +Financial Summary +All comparative percentages are on a year-over-year basis unless otherwise noted. +Q2 FY 2023 Highlights +Revenue -- Total revenue was up 7% at $13.6 billion, with product revenue up 9% and service revenue was up 2%. Revenue by geographic segment was: Americas up 9%, EMEA up 5%, and APJC was up 1%. Product revenue performance was led by growth in Secure, Agile Networks up 14%, End-to-End Security up 7%, and Optimized Application Experiences up 11%. Internet for the Future was down 1% and Collaboration was down 10%. +Gross Margin -- On a GAAP basis, total gross margin, product gross margin, and service gross margin were 62.0%, 60.2%, and 67.2%, respectively, as compared with 63.3%, 61.8%, and 67.3%, respectively, in the second quarter of fiscal 2022. +On a non-GAAP basis, total gross margin, product gross margin, and service gross margin were 63.9%, 62.1%, and 69.1%, respectively, as compared with 65.5%, 64.3%, and 68.8%, respectively, in the second quarter of fiscal 2022. +Total gross margins by geographic segment were: 62.9% for the Americas, 66.2% for EMEA and 63.6% for APJC. +Operating Expenses -- On a GAAP basis, operating expenses were $5.1 billion, up 13%, and were 37.8% of revenue. Non-GAAP operating expenses were $4.3 billion, up 8%, and were 31.4% of revenue. +Operating Income -- GAAP operating income was $3.3 billion, down 6%, with GAAP operating margin of 24.2%. Non-GAAP operating income was $4.4 billion, up 1%, with non-GAAP operating margin at 32.5%. +Provision for Income Taxes -- The GAAP tax provision rate was 18.8%. The non-GAAP tax provision rate was 19.0%. +Net Income and EPS -- On a GAAP basis, net income was $2.8 billion, a decrease of 7%, and EPS was $0.67, a decrease of 6%. On a non-GAAP basis, net income was $3.6 billion, an increase of 3%, and EPS was $0.88, an increase of 5%. +Cash Flow from Operating Activities -- $4.7 billion for the second quarter of fiscal 2023, an increase of 93% compared with $2.5 billion for the second quarter of fiscal 2022. +Balance Sheet and Other Financial Highlights +Cash and Cash Equivalents and Investments -- $22.1 billion at the end of the second quarter of fiscal 2023, compared with $19.3 billion at the end of fiscal 2022. +Remaining Performance Obligations (RPO) -- $31.8 billion, up 4% in total, with 53% of this amount to be recognized as revenue over the next 12 months. Product RPO were up 7% and service RPO were up 2%. +Deferred Revenue -- $23.9 billion, up 7% in total, with deferred product revenue up 9%. Deferred service revenue was up 6%. +Capital Allocation -- In the second quarter of fiscal 2023, we returned $2.8 billion to stockholders through share buybacks and dividends. We declared and paid a cash dividend of $0.38 per common share, or $1.6 billion, and repurchased approximately 26 million shares of common stock under our stock repurchase program at an average price of $47.72 per share for an aggregate purchase price of $1.3 billion. The remaining authorized amount for stock repurchases under the program is $13.4 billion with no termination date. +Guidance +Cisco expects to achieve the following results for the third quarter of fiscal 2023: +Q3 FY 2023 +Revenue +11% – 13% growth Y/Y +Non-GAAP gross margin rate +63.5% – 64.5% +Non-GAAP operating margin rate +33% – 34% +Non-GAAP EPS +$0.96 – $0.98 +Cisco estimates that GAAP EPS will be $0.74 to $0.79 for the third quarter of fiscal 2023. +Cisco expects to achieve the following results for fiscal 2023: +FY 2023 +Revenue +9% – 10.5% growth Y/Y +Non-GAAP EPS +$3.73 – $3.78 +Cisco estimates that GAAP EPS will be $2.85 to $2.96 for fiscal 2023. +Our Q3 FY 2023 guidance assumes an effective tax provision rate of 18% for GAAP and 19% for non-GAAP results. Our FY 2023 guidance assumes an effective tax provision rate of 20% for GAAP and 19% for non-GAAP results. +A reconciliation between the Guidance on a GAAP and non-GAAP basis is provided in the tables entitled "GAAP to non-GAAP Guidance" located in the section entitled "Reconciliations of GAAP to non-GAAP Measures." +Editor's Notes: +Q2 fiscal year 2023 conference call to discuss Cisco's results along with its guidance will be held on Wednesday, February 15, 2023 at 1:30 p.m. Pacific Time. Conference call number is 1-888-848-6507 (United States) or 1-212-519-0847 (international).Conference call replay will be available from 4:00 p.m. Pacific Time, February 15, 2023 to 4:00 p.m. Pacific Time, February 22, 2023 at 1-866-361-4941 (United States) or 1-203-369-0189 (international). The replay will also be available via webcast on the Cisco Investor Relations website at https://investor.cisco.com.Additional information regarding Cisco's financials, as well as a webcast of the conference call with visuals designed to guide participants through the call, will be available at 1:30 p.m. Pacific Time, February 15, 2023. Text of the conference call's prepared remarks will be available within 24 hours of completion of the call. The webcast will include both the prepared remarks and the question-and-answer session. This information, along with the GAAP to non-GAAP reconciliation information, will be available on the Cisco Investor Relations website at https://investor.cisco.com.  +CISCO SYSTEMS, INC. +CONSOLIDATED STATEMENTS OF OPERATIONS +(In millions, except per-share amounts) +(Unaudited)  +Three Months Ended +Six Months Ended +January 28, 2023 +January 29, 2022 +January 28, 2023 +January 29, 2022 +REVENUE: +Product +$       10,155 +$         9,353 +$       20,400 +$       18,882 +Service +3,437 +3,367 +6,824 +6,738 +Total revenue +13,592 +12,720 +27,224 +25,620 +COST OF SALES: +Product +4,038 +3,569 +8,217 +7,242 +Service +1,127 +1,102 +2,234 +2,276 +Total cost of sales +5,165 +4,671 +10,451 +9,518 +GROSS MARGIN +8,427 +8,049 +16,773 +16,102 +OPERATING EXPENSES: +Research and development +1,855 +1,670 +3,636 +3,384 +Sales and marketing +2,384 +2,266 +4,775 +4,527 +General and administrative +582 +544 +1,147 +1,095 +Amortization of purchased intangible assets +71 +79 +142 +163 +Restructuring and other charges +243 +3 +241 +8 +Total operating expenses +5,135 +4,562 +9,941 +9,177 +OPERATING INCOME +3,292 +3,487 +6,832 +6,925 +Interest income +219 +111 +388 +232 +Interest expense +(107) +(88) +(207) +(177) +Other income (loss), net +11 +93 +(123) +280 +Interest and other income (loss), net +123 +116 +58 +335 +INCOME BEFORE PROVISION FOR INCOME TAXES +3,415 +3,603 +6,890 +7,260 +Provision for income taxes +642 +630 +1,447 +1,307 +NET INCOME +$         2,773 +$         2,973 +$         5,443 +$         5,953 +Net income per share: +Basic +$           0.68 +$           0.71 +$           1.33 +$           1.42 +Diluted +$           0.67 +$           0.71 +$           1.32 +$           1.41 +Shares used in per-share calculation: +Basic +4,103 +4,183 +4,105 +4,201 +Diluted +4,116 +4,205 +4,115 +4,222 +  +CISCO SYSTEMS, INC. +REVENUE BY SEGMENT +(In millions, except percentages) +January 28, 2023 +Three Months Ended +Six Months Ended +Amount +Y/Y % +Amount +Y/Y % +Revenue: +Americas +$         7,825 +9 % +$       15,738 +7 % +EMEA +3,728 +5 % +7,404 +8 % +APJC +2,039 +1 % +4,082 +1 % +Total +$       13,592 +7 % +$       27,224 +6 % +Amounts may not sum and percentages may not recalculate due to rounding. +  +CISCO SYSTEMS, INC. +GROSS MARGIN PERCENTAGE BY SEGMENT +(In percentages) +January 28, 2023 +Three Months Ended +Six Months Ended +Gross Margin Percentage: +Americas +62.9 % +62.9 % +EMEA +66.2 % +64.8 % +APJC +63.6 % +63.0 % +  +CISCO SYSTEMS, INC. +REVENUE FOR GROUPS OF SIMILAR PRODUCTS AND SERVICES +(In millions, except percentages) +January 28, 2023 +Three Months Ended +Six Months Ended +Amount +Y/Y % +Amount +Y/Y % +Revenue: +Secure, Agile Networks +$         6,746 +14 % +$       13,430 +13 % +Internet for the Future +1,306 +(1) % +2,616 +(3) % +Collaboration +958 +(10) % +2,044 +(6) % +End-to-End Security +943 +7 % +1,914 +8 % +Optimized Application Experiences +199 +11 % +393 +9 % +Other Products +3 +25 % +4 +(17) % +Total Product +10,155 +9 % +20,400 +8 % +Services +3,437 +2 % +6,824 +1 % +Total +$       13,592 +7 % +$       27,224 +6 % +Amounts may not sum and percentages may not recalculate due to rounding. +  +CISCO SYSTEMS, INC. +CONDENSED CONSOLIDATED BALANCE SHEETS +(In millions) +(Unaudited) +January 28, 2023 +July 30, 2022 +ASSETS +Current assets: +Cash and cash equivalents +$                9,009 +$                7,079 +Investments +13,052 +12,188 +Accounts receivable, net of allowance of $86 at January 28, 2023 and $83 at July 30, 2022 +5,237 +6,622 +Inventories +3,140 +2,568 +Financing receivables, net +3,557 +3,905 +Other current assets +4,520 +4,355 +Total current assets +38,515 +36,717 +Property and equipment, net +1,964 +1,997 +Financing receivables, net +3,554 +4,009 +Goodwill +38,388 +38,304 +Purchased intangible assets, net +2,134 +2,569 +Deferred tax assets +5,321 +4,449 +Other assets +5,964 +5,957 +TOTAL ASSETS +$              95,840 +$              94,002 +LIABILITIES AND EQUITY +Current liabilities: +Short-term debt +$                1,250 +$                1,099 +Accounts payable +2,329 +2,281 +Income taxes payable +2,200 +961 +Accrued compensation +3,187 +3,316 +Deferred revenue +13,109 +12,784 +Other current liabilities +5,177 +5,199 +Total current liabilities +27,252 +25,640 +Long-term debt +7,637 +8,416 +Income taxes payable +6,609 +7,725 +Deferred revenue +10,818 +10,480 +Other long-term liabilities +2,050 +1,968 +Total liabilities +54,366 +54,229 +Total equity +41,474 +39,773 +TOTAL LIABILITIES AND EQUITY +$              95,840 +$              94,002 +  +CISCO SYSTEMS, INC. +CONSOLIDATED STATEMENTS OF CASH FLOWS +(In millions) +(Unaudited) +Six Months Ended +January 28,2023 +January 29,2022 +Cash flows from operating activities: +Net income +$              5,443 +$              5,953 +Adjustments to reconcile net income to net cash provided by operating activities: +Depreciation, amortization, and other +853 +1,049 +Share-based compensation expense +1,097 +930 +Provision (benefit) for receivables +6 +8 +Deferred income taxes +(845) +(138) +(Gains) losses on divestitures, investments and other, net +109 +(323) +Change in operating assets and liabilities, net of effects of acquisitions and divestitures: +Accounts receivable +1,393 +(308) +Inventories +(569) +(506) +Financing receivables +834 +1,241 +Other assets +(210) +(780) +Accounts payable +42 +(250) +Income taxes, net +118 +(876) +Accrued compensation +(146) +(437) +Deferred revenue +633 +202 +Other liabilities +(57) +123 +Net cash provided by operating activities +8,701 +5,888 +Cash flows from investing activities: +Purchases of investments +(3,797) +(3,937) +Proceeds from sales of investments +587 +1,402 +Proceeds from maturities of investments +2,316 +3,185 +Acquisitions, net of cash and cash equivalents acquired and divestitures +(3) +(361) +Purchases of investments in privately held companies +(70) +(124) +Return of investments in privately held companies +39 +104 +Acquisition of property and equipment +(346) +(232) +Proceeds from sales of property and equipment +1 +5 +Other +(20) +(11) +Net cash (used in) provided by investing activities +(1,293) +31 +Cash flows from financing activities: +Issuances of common stock +316 +306 +Repurchases of common stock - repurchase program +(1,760) +(5,105) +Shares repurchased for tax withholdings on vesting of restricted stock units +(310) +(411) +Short-term borrowings, original maturities of 90 days or less, net +(602) +959 +Issuances of debt +— +1,049 +Repayments of debt +— +(2,000) +Dividends paid +(3,120) +(3,102) +Other +(5) +(40) +Net cash used in financing activities +(5,481) +(8,344) +Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and +restricted cash equivalents +3 +(25) +Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents +1,930 +(2,450) +Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period +8,579 +9,942 +Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period +$           10,509 +$              7,492 +Supplemental cash flow information: +Cash paid for interest +$                 178 +$                 184 +Cash paid for income taxes, net +$              2,172 +$              2,320 +  +CISCO SYSTEMS, INC. +REMAINING PERFORMANCE OBLIGATIONS +(In millions, except percentages) +January 28, 2023 +October 29, 2022 +January 29, 2022 +Amount +Y/Y% +Amount +Y/Y% +Amount +Y/Y% +Product +$    14,517 +7 % +$    14,013 +5 % +$    13,532 +16 % +Service +17,255 +2 % +16,897 +1 % +16,986 +3 % +Total +$    31,772 +4 % +$    30,910 +3 % +$    30,518 +8 % +We expect 53% of total RPO at January 28, 2023 will be recognized as revenue over the next 12 months. +  +CISCO SYSTEMS, INC. +DEFERRED REVENUE +(In millions) +January 28, 2023 +October 29, 2022 +January 29, 2022 +Deferred revenue: +Product +$       10,679 +$       10,404 +$         9,767 +Service +13,248 +12,615 +12,546 +Total +$       23,927 +$       23,019 +$       22,313 +Reported as: +Current +$       13,109 +$       12,578 +$       12,268 +Noncurrent +10,818 +10,441 +10,045 +Total +$       23,927 +$       23,019 +$       22,313 +  +CISCO SYSTEMS, INC. +DIVIDENDS PAID AND REPURCHASES OF COMMON STOCK +(In millions, except per-share amounts) +DIVIDENDS +STOCK REPURCHASE PROGRAM +TOTAL +Quarter Ended +Per Share +Amount +Shares +Weighted-Average Price per Share +Amount +Amount +Fiscal 2023 +January 28, 2023 +$             0.38 +$          1,560 +26 +$          47.72 +$           1,256 +$          2,816 +October 29, 2022 +$             0.38 +$          1,560 +12 +$          43.76 +$              502 +$          2,062 +Fiscal 2022 +July 30, 2022 +$             0.38 +$          1,567 +54 +$          44.02 +$           2,402 +$          3,969 +April 30, 2022 +$             0.38 +$          1,555 +5 +$          54.20 +$              252 +$          1,807 +January 29, 2022 +$             0.37 +$          1,541 +82 +$          58.36 +$           4,824 +$          6,365 +October 30, 2021 +$             0.37 +$          1,561 +5 +$          56.49 +$              256 +$          1,817 +  +CISCO SYSTEMS, INC. +RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES +GAAP TO NON-GAAP NET INCOME +(In millions) +Three Months Ended +Six Months Ended +January 28,2023 +January 29,2022 +January 28,2023 +January 29,2022 +GAAP net income +$         2,773 +$         2,973 +$         5,443 +$         5,953 +Adjustments to cost of sales: +Share-based compensation expense +106 +81 +187 +150 +Amortization of acquisition-related intangible assets +153 +197 +306 +395 +Acquisition-related/divestiture costs +1 +1 +3 +2 +Total adjustments to GAAP cost of sales +260 +279 +496 +547 +Adjustments to operating expenses: +Share-based compensation expense +498 +396 +913 +779 +Amortization of acquisition-related intangible assets +71 +79 +142 +163 +Acquisition-related/divestiture costs +48 +120 +123 +232 +Russia-Ukraine war costs +2 +— +5 +— +Significant asset impairments and restructurings +243 +3 +241 +8 +Total adjustments to GAAP operating expenses +862 +598 +1,424 +1,182 +Adjustments to interest and other income (loss), net: +(Gains) and losses on equity investments +(44) +(100) +65 +(319) +Total adjustments to GAAP interest and other income (loss), net +(44) +(100) +65 +(319) +Total adjustments to GAAP income before provision for income taxes +1,078 +777 +1,985 +1,410 +Income tax effect of non-GAAP adjustments +(212) +(202) +(404) +(340) +Significant tax matters +— +— +164 +— +Total adjustments to GAAP provision for income taxes +(212) +(202) +(240) +(340) +Non-GAAP net income +$         3,639 +$         3,548 +$         7,188 +$         7,023 +   +CISCO SYSTEMS, INC. +RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES +GAAP TO NON-GAAP EPS +Three Months Ended +Six Months Ended +January 28,2023 +January 29,2022 +January 28,2023 +January 29,2022 +GAAP EPS +$           0.67 +$           0.71 +$           1.32 +$           1.41 +Adjustments to GAAP: +Share-based compensation expense +0.15 +0.11 +0.27 +0.22 +Amortization of acquisition-related intangible assets +0.05 +0.07 +0.11 +0.13 +Acquisition-related/divestiture costs +0.01 +0.03 +0.03 +0.06 +Significant asset impairments and restructurings +0.06 +— +0.06 +— +(Gains) and losses on equity investments +(0.01) +(0.02) +0.02 +(0.08) +Income tax effect of non-GAAP adjustments +(0.05) +(0.05) +(0.10) +(0.08) +Significant tax matters +— +— +0.04 +— +Non-GAAP EPS +$           0.88 +$           0.84 +$           1.75 +$           1.66 +Amounts may not sum due to rounding. +  +CISCO SYSTEMS, INC. +RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES +GROSS MARGINS, OPERATING EXPENSES, OPERATING MARGINS, INTEREST AND OTHER INCOME (LOSS), NET, AND NET INCOME +(In millions, except percentages) +Three Months Ended +January 28, 2023 +Product Gross Margin +Service Gross Margin +Total Gross Margin +Operating Expenses +Y/Y +Operating Income +Y/Y +Interest and other income (loss), net +Net Income +Y/Y +GAAP amount +$ 6,117 +$ 2,310 +$ 8,427 +$ 5,135 +13 % +$ 3,292 +(6) % +$  123 +$ 2,773 +(7) % +% of revenue +60.2 % +67.2 % +62.0 % +37.8 % +24.2 % +0.9 % +20.4 % +Adjustments to GAAP amounts: +Share-based compensation expense +40 +66 +106 +498 +604 +— +604 +Amortization of acquisition-related intangible assets +153 +— +153 +71 +224 +— +224 +Acquisition/divestiture-related costs +1 +— +1 +48 +49 +— +49 +Significant asset impairments and restructurings +— +— +— +243 +243 +— +243 +Russia-Ukraine war costs +— +— +— +2 +2 +— +2 +(Gains) and losses on equity investments +— +— +— +— +— +(44) +(44) +Income tax effect/significant tax matters +— +— +— +— +— +— +(212) +Non-GAAP amount +$ 6,311 +$ 2,376 +$ 8,687 +$ 4,273 +8 % +$ 4,414 +1 % +$    79 +$ 3,639 +3 % +% of revenue +62.1 % +69.1 % +63.9 % +31.4 % +32.5 % +0.6 % +26.8 % +  +Three Months Ended +January 29, 2022 +Product Gross Margin +Service Gross Margin +Total Gross Margin +Operating Expenses +Operating +Income +Interest and other income (loss), net +Net +Income +GAAP amount +$   5,784 +$   2,265 +$   8,049 +$   4,562 +$   3,487 +$      116 +$   2,973 +% of revenue +61.8 % +67.3 % +63.3 % +35.9 % +27.4 % +0.9 % +23.4 % +Adjustments to GAAP amounts: +Share-based compensation expense +29 +52 +81 +396 +477 +— +477 +Amortization of acquisition-related intangible assets +197 +— +197 +79 +276 +— +276 +Acquisition/divestiture-related costs +1 +— +1 +120 +121 +— +121 +Significant asset impairments and restructurings +— +— +— +3 +3 +— +3 +(Gains) and losses on equity investments +— +— +— +— +— +(100) +(100) +Income tax effect/significant tax matters +— +— +— +— +— +— +(202) +Non-GAAP amount +$   6,011 +$   2,317 +$   8,328 +$   3,964 +$   4,364 +$        16 +$   3,548 +% of revenue +64.3 % +68.8 % +65.5 % +31.2 % +34.3 % +0.1 % +27.9 % +Amounts may not sum and percentages may not recalculate due to rounding. +  +CISCO SYSTEMS, INC. +RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES +GROSS MARGINS, OPERATING EXPENSES, OPERATING MARGINS, INTEREST AND OTHER INCOME (LOSS), NET, AND NET INCOME +(In millions, except percentages) +Six Months Ended +January 28, 2023 +Product Gross Margin +Service Gross Margin +Total Gross Margin +Operating Expenses +Y/Y +Operating Income +Y/Y +Interest and other income (loss), net +Net Income +Y/Y +GAAP amount +$ 12,183 +$ 4,590 +$ 16,773 +$ 9,941 +8 % +$ 6,832 +(1) % +$    58 +$ 5,443 +(9) % +% of revenue +59.7 % +67.3 % +61.6 % +36.5 % +25.1 % +0.2 % +20.0 % +Adjustments to GAAP amounts: +Share-based compensation expense +71 +116 +187 +913 +1,100 +— +1,100 +Amortization of acquisition-related intangible assets +306 +— +306 +142 +448 +— +448 +Acquisition/divestiture-related costs +3 +— +3 +123 +126 +— +126 +Significant asset impairments and restructurings +— +— +— +241 +241 +— +241 +Russia-Ukraine war costs +— +— +— +5 +5 +— +5 +(Gains) and losses on equity investments +— +— +— +— +— +65 +65 +Income tax effect/significant tax matters +— +— +— +— +— +— +(240) +Non-GAAP amount +$ 12,563 +$ 4,706 +$ 17,269 +$ 8,517 +7 % +$ 8,752 +1 % +$  123 +$ 7,188 +2 % +% of revenue +61.6 % +69.0 % +63.4 % +31.3 % +32.1 % +0.5 % +26.4 % +  +Six Months Ended +January 29, 2022 +Product Gross Margin +Service Gross Margin +Total Gross Margin +Operating Expenses +Operating +Income +Interest and other income (loss), net +Net +Income +GAAP amount +$ 11,640 +$   4,462 +$ 16,102 +$   9,177 +$   6,925 +$      335 +$   5,953 +% of revenue +61.6 % +66.2 % +62.8 % +35.8 % +27.0 % +1.3 % +23.2 % +Adjustments to GAAP amounts: +Share-based compensation expense +54 +96 +150 +779 +929 +— +929 +Amortization of acquisition-related intangible assets +395 +— +395 +163 +558 +— +558 +Acquisition/divestiture-related costs +2 +— +2 +232 +234 +— +234 +Significant asset impairments and restructurings +— +— +— +8 +8 +— +8 +(Gains) and losses on equity investments +— +— +— +— +— +(319) +(319) +Income tax effect/significant tax matters +— +— +— +— +— +— +(340) +Non-GAAP amount +$ 12,091 +$   4,558 +$ 16,649 +$   7,995 +$   8,654 +$        16 +$   7,023 +% of revenue +64.0 % +67.6 % +65.0 % +31.2 % +33.8 % +0.1 % +27.4 % +Amounts may not sum and percentages may not recalculate due to rounding. +  +CISCO SYSTEMS, INC. +RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES +EFFECTIVE TAX RATE +(In percentages) +Three Months Ended +Six Months Ended +January 28, 2023 +January 29, 2022 +January 28, 2023 +January 29, 2022 +GAAP effective tax rate +18.8 % +17.5 % +21.0 % +18.0 % +Total adjustments to GAAP provision for income taxes +0.2 % +1.5 % +(2.0) % +1.0 % +Non-GAAP effective tax rate +19.0 % +19.0 % +19.0 % +19.0 % +  +GAAP TO NON-GAAP GUIDANCE +Q3 FY 2023 +Gross Margin Rate +Operating Margin Rate +Earnings per Share (2) +GAAP +61.5% – 62.5% +25.5% – 26.5% +$0.74 – $0.79 +Estimated adjustments for: +Share-based compensation expense +1.0 % +4.5 % +$0.12 – $0.13 +Amortization of acquisition-related intangible assets and acquisition/divestiture-related costs +1.0 % +2.0 % +$0.05 – $0.06 +Significant asset impairments and restructurings (1) +— +1.0 % +$0.02 – $0.03 +Non-GAAP +63.5% – 64.5% +33% – 34% +$0.96 – $0.98 +  +FY 2023 +Earnings per Share (2) +GAAP +$2.85 – $2.96 +Estimated adjustments for: +Share-based compensation expense +$0.46 – $0.48 +Amortization of acquisition-related intangible assets and acquisition/divestiture-related costs +$0.21 – $0.23 +Significant asset impairments and restructurings (1) +$0.10 – $0.12 +(Gains) and losses on equity investments +$0.01 +Significant tax matters +$0.04 +Non-GAAP +$3.73 – $3.78 +(1) +On November 16, 2022, Cisco announced a restructuring plan in order to rebalance the organization and enable further investment in key priority areas. This rebalancing includes talent movement options and restructuring. Additionally, Cisco has begun optimizing its real estate portfolio, aligned to the broader hybrid work strategy. Cisco estimates that it will recognize pre-tax charges to its GAAP financial results of approximately $600 million consisting of severance and other one-time termination benefits, real estate-related charges, and other costs. These charges are primarily cash-based. We recognized $243 million of these charges during the second quarter of fiscal 2023. We expect to recognize approximately $140 million of these charges in each of the third and fourth quarters of fiscal 2023, and the remaining amount of these charges primarily in the first quarter of fiscal 2024. +(2) +Estimated adjustments to GAAP earnings per share are shown after income tax effects. +Except as noted above, this guidance does not include the effects of any future acquisitions/divestitures, asset impairments, Russia-Ukraine war costs, restructurings, (gains) and losses on equity investments and significant tax matters or other events, which may or may not be significant unless specifically stated. +Forward Looking Statements, Non-GAAP Information and Additional Information  This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events (such as the success of our ongoing business transformation and operational discipline, the growth of our recurring revenue base and RPO, our healthy backlog, steps taken to improve the supply situation, strength of our cash flow generation, and commitment to shareholder returns) and the future financial performance of Cisco (including the guidance for Q3 FY 2023 and full year FY 2023) that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: the impact of the COVID-19 pandemic and related public health measures; business and economic conditions and growth trends in the networking industry, our customer markets and various geographic regions; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; the growth and evolution of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market and other customer markets; the return on our investments in certain priorities, key growth areas, and in certain geographical locations, as well as maintaining leadership in Secure, Agile Networks and services; the timing of orders and manufacturing and customer lead times; significant supply constraints; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; our ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; our ability to achieve expected benefits of our partnerships; increased competition in our product and service markets, including the data center market; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and returns; litigation involving patents, other intellectual property, antitrust, stockholder and other matters, and governmental investigations; our ability to achieve the benefits of restructurings and possible changes in the size and timing of related charges; cyber-attacks, data breaches or malware; vulnerabilities and critical security defects; terrorism; natural catastrophic events (including as a result of global climate change); any other pandemic or epidemic; our ability to achieve the benefits anticipated from our investments in sales, engineering, service, marketing and manufacturing activities; our ability to recruit and retain key personnel; our ability to manage financial risk, and to manage expenses during economic downturns; risks related to the global nature of our operations, including our operations in emerging markets; currency fluctuations and other international factors; changes in provision for income taxes, including changes in tax laws and regulations or adverse outcomes resulting from examinations of our income tax returns; potential volatility in operating results; and other factors listed in Cisco's most recent reports on Forms 10-Q and 10-K filed on November 22, 2022 and September 8, 2022, respectively. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in Cisco's most recent reports on Forms 10-Q and 10-K as each may be amended from time to time. Cisco's results of operations for the three and six months ended January 28, 2023 are not necessarily indicative of Cisco's operating results for any future periods. Any projections in this release are based on limited information currently available to Cisco, which is subject to change. Although any such projections and the factors influencing them will likely change, Cisco will not necessarily update the information, since Cisco will only provide guidance at certain points during the year. Such information speaks only as of the date of this release. +This release includes non-GAAP net income, non-GAAP gross margins, non-GAAP operating expenses, non-GAAP operating income and margin, non-GAAP effective tax rates, non-GAAP interest and other income (loss), net, and non-GAAP net income per share data for the periods presented. It also includes future estimated ranges for gross margin, operating margin, tax provision rate and EPS on a non-GAAP basis. +These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Cisco believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Cisco's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Cisco's results of operations in conjunction with the corresponding GAAP measures. +Cisco believes that the presentation of non-GAAP measures when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and its historical and projected results of operations. +For its internal budgeting process, Cisco's management uses financial statements that do not include, when applicable, share-based compensation expense, amortization of acquisition-related intangible assets, acquisition-related/divestiture costs, significant asset impairments and restructurings, significant litigation settlements and other contingencies, Russia-Ukraine war costs, gains and losses on equity investments, the income tax effects of the foregoing and significant tax matters. Cisco's management also uses the foregoing non-GAAP measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Cisco. In prior periods, Cisco has excluded other items that it no longer excludes for purposes of its non-GAAP financial measures. From time to time in the future there may be other items that Cisco may exclude for purposes of its internal budgeting process and in reviewing its financial results. For additional information on the items excluded by Cisco from one or more of its non-GAAP financial measures, refer to the Form 8-K regarding this release furnished today to the Securities and Exchange Commission. +Annualized recurring revenue represents the annualized revenue run-rate of active subscriptions, term licenses, and maintenance contracts at the end of a reporting period, net of rebates to customers and partners as well as certain other revenue adjustments. Includes both revenue recognized ratably as well as upfront on an annualized basis. +About Cisco +Cisco (Nasdaq: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more at newsroom.cisco.com and follow us on Twitter at @Cisco. +Copyright © 2023 Cisco and/or its affiliates. All rights reserved. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. To view a list of Cisco trademarks, go to: www.cisco.com/go/trademarks. Third-party trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information. +RSS Feed for Cisco: https://newsroom.cisco.com/rss-feeds +Press Contact: +Investor Relations Contact: +Robyn Blum +Marilyn Mora +Cisco +Cisco +1 (408) 930-8548 +1 (408) 527-7452 +rojenkin@cisco.com +marilmor@cisco.com +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cisco-reports-second-quarter-earnings-301748045.html +SOURCE Cisco Systems, Inc. + + diff --git a/news/CSCO/2023.02.15/Marketmind: Interminable anxiety.txt b/news/CSCO/2023.02.15/Marketmind: Interminable anxiety.txt new file mode 100644 index 0000000000000000000000000000000000000000..e41385056a9d2f7542c8b70d37ebc88929122843 --- /dev/null +++ b/news/CSCO/2023.02.15/Marketmind: Interminable anxiety.txt @@ -0,0 +1 @@ +U.S. inflation is not falling fast enough, the Federal Reserve is stamping its foot and the assumed 'terminal' interest rate in this brutal monetary policy tightening cycle is climbing upwards once again.The net impact of Tuesday's sticky U.S. inflation report for January and the red hot employment readout for the same month has been to catapult market pricing of both peak Fed rates and where they'll be at year-end well above 5% and above where even Fed guidance had been late last year.Deutsche Bank, for one, has raised its U.S. terminal rate forecast by half a percentage point to 5.6% since the CPI release, with some market players already mulling the chance that even 6% now comes on the risk radar. And as one of the leading doves on the Fed's policymaking council - Vice Chair Lael Brainard - is set to depart the central bank later this month, her colleagues seem happy for markets to look ever higher for the rates summit."Clearly there are risks that inflation stays higher for longer than expected, or that we might need to raise rates higher" than current forecasts, said New York Fed President John Williams, adding that a year-end rate between 5.0% and 5.50% was "the right kind of framing".The about-turn in rates markets in just two weeks has been extraordinary - with Fed funds futures pricing moving from a terminal rate as low as 4.8% to 5.26% on Wednesday. Year-end pricing has moved above 5% too. Two-year Treasury yields soared to a 3-month high of 4.64% on Tuesday - where current Fed rates sit - and only gave back a fraction of that on Wednesday.The dollar extended gains against Japan's yen and the pound but was restrained against the euro by speculation the European Central Bank faces a similar rethink on inflation and rates that's also pushing up where its peak tightening might be.U.S. stocks held up remarkably well on Tuesday - helped by hopes recession fears are easing even as rate speculation intensifies. But futures and world stocks in general were feeling the heat today.U.S. January industrial production and retail sales data are now the next gauge of what's happening on the ground in the U.S. economy.Sterling slipped as UK inflation fell faster than expected last month, even though the annual inflation rate remains in double digits.Despite many banks benefiting from the higher interest rate environment, Britain's Barclays has proven an outlier and its shares dropped almost 10% on Wednesday after a dire 2022 earnings update.Barclays reported a 14% fall in full-year pre-tax profit as earnings were pole-axed by surging costs, a collapse in deal fees and multi-million dollar fines relating to an administrative blunder.There was better news on the inflation front in energy markets. Oil dropped for a second day on Wednesday, as an industry report pointed to ample supplies in the United States and anticipation of further rate hikes sparked concerns over weaker fuel demand and the economic outlook.Warren Buffett's Berkshire Hathaway, meantime, slashed its stake in Taiwanese contract chipmaker TSMC as well as in some banks in the fourth quarter, while bolstering its holdings in Apple Inc.Berkshire cut its position in Taiwan Semiconductor Manufacturing Co - roughly three months after it said it had bought more than $4.1 billion worth of the stock.Key developments that may provide direction to U.S. markets later on Wednesday:* U.S. Feb NAHB housing index, Empire manufacturing index, Jan retail sales, industrial production, Dec business inventories, Dec TIC Treasury holdings data * European Central Bank President Christine Lagarde speaks in European Parliament* U.S. Treasury auctions 20-year bonds* U.S. corp earnings: Cisco, Analog Devices, Marathon, AIG, Equinix, Kraft Heinz, Biogen, Albemarle, ROBLOX, Zillow, Roku, Rollins, EQT, Synopsys (By Mike Dolan, editing by Emelia Sithole-Matarise; mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/CSCO/2023.02.15/When meeting expectations isn't enough.txt b/news/CSCO/2023.02.15/When meeting expectations isn't enough.txt new file mode 100644 index 0000000000000000000000000000000000000000..d0451de79c390766039f412925e5a6ca3b88f6da --- /dev/null +++ b/news/CSCO/2023.02.15/When meeting expectations isn't enough.txt @@ -0,0 +1 @@ +It was billed as one of the most important data points for makets that were desperate for signs on whether U.S. inflation is steadily retreating.While U.S. consumer prices stuck to the consensus expectation on a monthly basis, heating up to 0.5% from December's 0.1%, largely due to rising energy prices, the CPI increased more than expected in the 12 months through January.The annual rise was however the smallest since late 2021. That sent the S&P down but the Nasdaq index ended up, while two-year Treasury yields rose to 3.799, the highest since January.It looks like markets are still unable to make up their minds on the data's long-term impact.The drumrolls from the Fed continued. Officials said the U.S. central bank would need to keep gradually raising interest rates to beat inflation.After the inflation data, traders of interest rate futures now see the Fed raising borrowing costs three more times, bringing the policy rate to the 5.25%-5.50% range by July, if not June.Today, January's inflation report from Britain is set to show year-on-year double-digit price increases, underlying why the country will see more interest rate rises despite being the only G7 economy that the IMF expects to shrink this year.European stocks, which flirted with a near one-year peak on Tuesday before ending flat, are expected to open lower as Euro Stoxx 50 futures declined. U.S. futures also edged down.The Bank of England has had to raise borrowing costs even though the economy has struggled, after a post-pandemic boost faltered amid the country's cost-of-living crisis.While basic pay in Britain grew more quickly again in the last three months of 2022, retail sales in December - when people are likely to splurge - declined by the most for that month in at least 25 years.The Financial Times reported on Tuesday that British Prime Minister Rishi Sunak and Finance Minister Jeremy Hunt are considering a deal to end a wave of strikes among public sector workers that would backdate next year's pay rise.Meanwhile, investors turned more optimistic about the global economy in February, flocking to emerging market stocks and cutting their cash holdings to levels last seen before the war in Ukraine, a BofA survey of global investors showed on Tuesday.OPEC raised its 2023 global oil demand growth forecast, its first upward revision in months, as China relaxed its COVID-19 curbs, and pointed to a tighter market.President Joe Biden picked Federal Reserve Vice Chair Lael Brainard and White House economist Jared Bernstein to lead his economic team, part of a fresh push by the Democratic president to convince sceptical Americans that his economic policies are working.Key developments that could influence markets on Wednesday: European economic data: UK Jan CPIU.S. economic data: Retail sales U.S. results: Cisco, Kraft HeinzSpeakers: ECB President Christine Lagarde takes part in a plenary debate on the ECB Annual Report 2022 in parliament (Reporting by Anshuman Daga; Editing by Edmund Klamann) \ No newline at end of file diff --git a/news/CSCO/2023.02.16/Cisco : Launch Your Cybersecurity Career with Cisco CyberOps Certifications | Part 2.txt b/news/CSCO/2023.02.16/Cisco : Launch Your Cybersecurity Career with Cisco CyberOps Certifications | Part 2.txt new file mode 100644 index 0000000000000000000000000000000000000000..c880c13b33cb0fb1f13f9b08c75a8cc8851e816d --- /dev/null +++ b/news/CSCO/2023.02.16/Cisco : Launch Your Cybersecurity Career with Cisco CyberOps Certifications | Part 2.txt @@ -0,0 +1,99 @@ + + + +This post was co-authored by Cisco Technical Education Content Developers Patrick Lao and Paul Ostrowski. + + +Every effective Security Operations Center (SOC) has three traits: (1) the right technologies and tools, (2) the right people with trained thinking skills, and (3) proven processes. When you have theright tools, you canprovide accurate and timely data about what is going on in the environment.Then, you need to apply critical thinking to decipher all the data and develop a hypothesis to explain the situation.And finally, establishing processes enables SOC analysts to work in an orderly fashion, not chaotically. And since these three puzzle pieces are equally important, we made sure our CyberOps certifications validate candidates for their ability to excel in each area. + + + Read on as we continue the dialogue from Part 1 of this series, where we looked at how cyber attacks have evolved, the skills that professionals need to fend them off, and how the Cisco CyberOps certification program has changed to stay ahead of these new threats. In this blog post, Part 2 will examine why Cisco CyberOps certification is an excellent way to launch your cybersecurity career. + + +CyberOps certifications prepare you for real-world SOC analyst job tasks + + + Cisco CyberOps certification courses cover theoretical knowledge and critical thinking skills, as well as many hours of practical hands-on labs using a lab topology that simulates real-world environments and tools. + + +In the real world, SOCs use Network Security Monitoring (NSM) tools. NSM tools collect, maintain, process, and presentnetwork security monitoring data to SOC analysts. + + +Each type of NSM tool has its own set of applicability and reveals certain pieces of information. When used together, multiple NSM data sources work in tandem to reveal all the information SOC analysts need. + + +Every SOC must have a suite of NSM tools. Without NSM data, SOC analysts can't do their job. As such, your ability to navigate this environment is critical-from the start of your cybersecurity career. Enter the Cisco Certified CyberOps Associate Certification. The Cisco CyberOps certification that prepares you for associate-level roles, like an entry-level cybersecurity analyst. + + +Train with real NSM tools for the CyberOps Associate certification + + +In the CyberOps Associate Certification lab topology, the lab NSM tool used is the open-source tool, Security Onion. Security Onion is a Linux-based suite of tools intended to support the SOC. Security Onion includes several useful security tools designed to provide four core network security-monitoring functions: + + + +Full packet capture + + +Network-based and host-based intrusion detection sensors + + +Security analysis tools + + +Log management + + + + Each of these functions aligns with the three key traits every SOC needs (as I mentioned above); building your proficiency with the tools and processes you'll use in a real-world SOC job. + + +Learn to think like a cyber attacker with CyberOps Professional certification training + + +Now, let's look at the NSM tools in the Cisco Certified CyberOps Professional Certification lap topology. The CyberOps Professional certification lab NSM tools contain Cisco Network, Endpoint, and Cloud-Based Security Tools, such as Cisco SecureX which is an Extended Detection and Response (XDR) platform, and 3rdparty solutions such as Splunk as the SIEM (Security Information and Event Management). + + +In addition to becoming familiar with each NSM tool, preparing for the CyberOps Professional opens the door to the next stage in your cybersecurity career: threat hunting. Many of the labs explore the different phases of a cyberattack. You'll have the opportunity to act as a cyber attacker, using tools such as Kali Linux, and as a cyber defender, using the various NSM tools available in the lab topology. These students gain valuable experience practicing the real-world skills required for a SOC analyst to detect, investigate, and mitigate cyberattacks. + + +What's Next + + +Whether you're considering a Cisco CyberOps certificationor currently moving into the SOC environment, we provide many different training options to help you launch your cybersecurity career. If you're entirely new to cybersecurity, take a look at the Cisco Certified Support Technician Cybersecurity Certification that we just announced in January -designed as a first step into the tech industry. Still unsure? Explore the opportunities that await you, amid the strikingly high, ongoing market demand for tech professionals with security skills. + + +Best wishes on your exciting and rewarding journey to becoming a productive SOC Analyst. Please leave a comment below and start a conversation, we'd love to hear about where you are in your cybersecurity career. + + + Join the Cisco Learning Network today for free. + + +Follow Cisco Learning & Certifications + + + Use #CiscoCert to join the conversation. + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 16 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 22:05:02 UTC. + + diff --git a/news/CSCO/2023.02.16/Cybastion ? Leveraging U.S. Expertise to Bolster Cyber Safety in Africa.txt b/news/CSCO/2023.02.16/Cybastion ? Leveraging U.S. Expertise to Bolster Cyber Safety in Africa.txt new file mode 100644 index 0000000000000000000000000000000000000000..beb6c8597278afe4732abd9e846f8a756af17fa0 --- /dev/null +++ b/news/CSCO/2023.02.16/Cybastion ? Leveraging U.S. Expertise to Bolster Cyber Safety in Africa.txt @@ -0,0 +1 @@ +When President Joe Biden, addressing the U.S.-Africa Leaders Summit in December, thanked major American corporations like Microsoft, General Electric and Visa for announcing some $15 billion in new deals, he included mention of "a diaspora-owned small business" called Cybastion that jointly with Cisco had signed contracts "to protect African countries from cyber threats."Headquartered in North Carolina, Cybastion was launched in 2019 with initial projects in Burkina Faso and Benin followed by engagements in Central African Republic, Cote d'Ivoire, Niger and Namibia. The company's collaboration with Cisco includes cybersecurity export agreements with Niger, Côte d'Ivoire, Burkina Faso, Congo Brazzaville, Benin, and Cameroon totaling $858 million, the company announced.The president and CEO of Cybastion, Dr. Thierry Wandji, has 15 years of experience in academic research and teaching in the defense and intelligence fields, including more than a decade working at the U.S. Navy Air Systems Command, most recently as technical lead for design and implementation of critical cybersecurity and intelligence solutions. Alongside colleagues with complementary skills, he said he wanted to "leverage the expertise" they had accumulated to help Africa "get up to speed quickly."He assembled an experienced executive team that includes Senior Vice President for Operations Andre Biyong, Chief Technical Officer Kevin Cardwell, Senior Vice President for Business Strategy and Government Affairs Leila Ndiaye, and Gildas Houessinon, who heads the Cybastion Institute of Technology. "Africa must embrace the digital revolution," he said in an interview, "and cyber-safety has to be a central part of the strategic development plan.""African organizations are not giving cybersecurity the priority it deserves, and this inadequate security is directly affecting business for enterprises, as well as countries," cybersecurity expert Shane McCarthy wrote in an article for the World Economic Forum in August, calling cybersecurity "key to participating in global markets." Africa loses an estimated $4 billion annually to cybercrime, according to an IDC report cited in a Tech Cabal article  examining cyber threats faced by Africa's e-commerce and payment sectors.Born in Cameroon, Wandji left home at age 17 to attend secondary school in Canada. After graduation, he received a scholarship at the Polytechnic School of Engineering in Montreal where he earned a degree in Electrical Engineering. He followed that with a Master's Degree in electrical engineering from Morgan State University in Baltimore and another Master's in cybersecurity from the University of Maryland. After joining the Navy as systems engineer, he earned a PhD at George Washington University, writing his doctoral dissertation on software reliability and security.Cybersecurity is central as Africa embraces the digital revolution.Cybastion focuses on people, process and technology. "We make sure we connect these for greater outcome," Wandji said. For training employees, the company works with partners like Cisco and Microsoft."With the exponential progression of data on the [African] continent, we don't have nearly enough engineers - and that can lead to chaos," he said. Cybastion is working with governments not only on education programs to fill this gap but also on the incentives needed to retain skilled personnel who might be recruited for higher paying positions abroad.Wandji believes advanced security protections are often overlooked in the rush to adopt new technologies, opening the way for ransomware and other data breaches. "There is a huge need to help government officials and lawmakers understand what policies are needed," he said. To develop the framework for national approaches to cyber safety, "you need to build a roadmap".Cybastion has worked with four countries to create their national cybersecurity agencies: Benin, Burkina Faso, Niger and Cote d'Ivoire. Wandji said the goal is "to use the same playbook" in every country, drawing in expertise from other regions, including the United States. By putting viable protections in place, African nations are creating new opportunities for economic growth and much-needed employment for young people.He said the work on cybersecurity leads directly into the e-government initiatives that every country is undertaking. A reliable eco-system is essential. As governments digitize sensitive documents like birth certificates and passports, concern for privacy and "data sovereignty" becomes a high priority, he said, which means the capacity for secure in-country data storage rather than reliance on outside cloud providers. Governments realize they lack such capacity and partner with companies like Cybastion to safeguard their data centers.Cybercrime is borderless; cross-border collaboration is key.At the same time, cross-border collaboration is essential. Cybastion is supporting a regional approach across west Africa, working with countries to share threat data and establish a level of security that protects all. "Governments understand the need for interoperability cooperation," Wandji said.Because cybercrime is borderless, a country with decent security can experience serious problems if a neighbor is hacked. And these breaches come with a price tag. "We are confident that with the experience our team has, we can have a significant impact, not just for governments but for the populations where we are working," he adds.U.S. pledge of assistance can boost data protection initiatives.One important outcome from the U.S.-Africa Leaders Summit in Washington that Wandji cites is the U.S. commitment to finance that cross-country cooperation. During the Summit, the White House pledged to invest $350 million and facilitate another $450 million in financing for the Digital Transformation with Africa (DTA) Initiative. Included in the new program is capacity building and technical assistance from the State Department for cybersecurity and an interagency effort led by the U.S. Trade and Development Agency (USTDA) "to advance inclusive, secure, and sustainable digital infrastructure."African governments are committing their own funding "because they recognize the urgency," and those investments should enable digital programs to get underway even before U.S assistance arrives, Wandji said. He expects Cybastion to extend its engagement to more countries in west Africa this year, such as Guinea (Conakry), Ghana, Sierra Leone and Liberia.Copyright allAfrica.com. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English \ No newline at end of file diff --git a/news/CSCO/2023.02.16/In Weightlessness.txt b/news/CSCO/2023.02.16/In Weightlessness.txt new file mode 100644 index 0000000000000000000000000000000000000000..65994071205a3a15e3a0d297516a64a1e165d36d --- /dev/null +++ b/news/CSCO/2023.02.16/In Weightlessness.txt @@ -0,0 +1,34 @@ + +You get used to anything, even higher interest rates. This has been the message sent by the financial markets since the beginning of the year. We are currently witnessing what lawyers would probably call a form of reversal of the burden of proof. Until the end of last year, everything was going badly, until proven otherwise. Well, now everything is better, until proven otherwise. The change is important because it means looking at the positive side of a mixed indicator, instead of the dark side. This week illustrates this very well. In 2022, the combination of slightly less favorable than expected inflation numbers (that was Tuesday) with a healthy consumer sentiment and an improving housing market (that was yesterday) would have probably led investors to consider further rate hikes. This would have made them deeply depressed. Remember, there is little that financiers hate more than restrictive monetary policies. +But in 2023, no one cares. In January, stocks had ridden the wave of a sharper-than-expected slowdown in inflation, which confirmed that the U.S. central bank's rate-raising cycle would soon end. This was quite logical. All that was missing was a slightly more adverse context to test the strength of the recovery. This more adverse context materialized in February, with less unambiguous statistics and an unresolved dilemma at this stage: is it better to have strong growth and some fears about a Fed that might be even more punitive, or faltering growth that would push the Fed to return to a more flexible monetary policy? But what is important here is that the market is saying: the dilemma is not clear-cut, but both situations are ultimately acceptable if the published data remain within reasonable limits, they do not require a radical response such as a forceful rate hike as was the case a year ago. This feeling is reinforced by the non-materialization of the extreme scenarios that had been envisaged, in particular an energy cataclysm in Europe and an out-of-control coronavirus in China after the end of the zero-covid policy. +Coming back to concrete things, the US macroeconomic statistics published yesterday show that strategic parts of the economy are still strong, even if industrial production was a bit weak. Initially, this affected the indexes in the aforementioned pattern. But like the day before, they ended fairly close to their highs. In the United States, the Nasdaq 100 continued to rise, gaining 0.8%, well ahead of the S&P 500 (+0.3%). In Europe, green dominated everywhere, especially on the French CAC40, which recovered 1.2%, boosted by its large caps in luxury and industry. An American media (Bloomberg I think, I forgot where I read it) pointed out that the index compiled by Goldman Sachs to gauge investors' risk appetite based on the track record of unprofitable technology companies is at +30% since January 1st. The Nasdaq 100 is up nearly 16%. +Meanwhile, the bond market is once again looking at higher rates and/or longer, but without dampening sentiment. The US 10-year touched 3.8% yesterday, its highest level of the year. The yield curve is still inverted, which is historically a signal of recession. But one can sense that investors seem ready to put this gloomy prediction in the curiosity cupboard, along with the aforementioned energy cataclysm in Europe and the out-of-control coronavirus in China. Today, a new set of statistics from the US to test the strength of the mood I have just tried to paint. With the necessary caution, since we know that the pendulum effect is powerful on the equity markets. +Economic highlights of the day: +At 8:30 am in the United States, the market will mainly follow the producer prices and to a lesser extent the Philly Fed index, the weekly unemployment figures and the data on housing starts and building permits. All the agenda here. This morning, Japan reported an acceleration in exports in January, while economists had feared a contraction. +The dollar is trading at 0.9342 EUR and 0.8299 GBP. The ounce of gold remains positioned around 1836 USD. Oil is rebounding, with North Sea Brent crude at USD 85.57 a barrel and U.S. light crude WTI at USD 78.81. The yield on 10-year US debt tightens to 3.78%. Bitcoin jumps to USD 24,550. + +In corporate news: + +* Cisco Systems jumped 6% in after-hours trading as the networking equipment specialist raised its full-year profit growth forecast on Wednesday after strong quarterly results. +* Tesla has sold all of its Model Y inventory scheduled for this quarter in the U.S. market and nothing is expected until April. The company will also open part of its U.S. charging network to competitors' vehicles as part of a $7.5 billion government program to boost electric car use and lower carbon emissions. +* Ford Motor is down 0.7% in premarket trading after announcing an extension at least until the end of next week of the production suspension of its F-150 electric vehicle, which is facing battery problems. +* Roku jumped 10.2% in premarket trading after announcing a first-quarter revenue forecast that beat Wall Street expectations and a commitment to reduce its costs. +* Lockheed Martin and Raytheon Technologies - China's Ministry of Commerce announced Thursday that it had placed the two U.S. groups on a "list of unreliable entities" after arms sales to Taiwan. +* Baker Hughes - Piper Sandler raised its recommendation to "overweight" from "neutral".  + + +Analyst recommendations: + +Activision Blizzard: Deutsche Bank raised the recommendation to buy from hold. PT up 16% to $90. +Eli Lilly: Societe Generale cut the recommendation to sell from hold. Price target decreases 19% to $278. +Idexx Laboratories: Piper Sandler maintains overweight rating. Price target up to $600 from $500. +Inchcape: Citi initiated coverage with a recommendation of buy. PT set to 1,131 pence +Marathon Oil: Benchmark Company moved to buy from hold. Price target set to $32. +Nvidia: DZ Bank cut the recommendation to sell from buy. Price target downgrades to $195. +Pegasystems: Truist Securities maintains hold rating. PT up to $45 from $40. +Roku: Benchmark Company raised the target to $89 from $65. Maintains buy rating. +Seagen: Raymond James raised the recommendation to strong buy from outperform. PT up 23% to $175. +Smith & Nephew: Liberum initiated coverage with a recommendation of hold. PT set to 1,120 pence. +Upstart Holdings: Loop Capital Markets raised the recommendation to buy from hold. PT up 42% to $24. +Zillow Group: Benchmark Company upgrades price target to $60 from $52. + diff --git a/news/CSCO/2023.02.16/Should owning index funds be grounds for judicial recusal? No, says California judge.txt b/news/CSCO/2023.02.16/Should owning index funds be grounds for judicial recusal? No, says California judge.txt new file mode 100644 index 0000000000000000000000000000000000000000..592b46cd0a58c64c3f88d2362f71652055795839 --- /dev/null +++ b/news/CSCO/2023.02.16/Should owning index funds be grounds for judicial recusal? No, says California judge.txt @@ -0,0 +1 @@ +But the new law does not undermine longstanding precedent that allows judges to invest in index funds without worrying about the funds' ownership of shares in public companies, according to a ruling on Wednesday from U.S. District Judge Yvonne Gonzalez Rogers of Oakland, California.In notably fiery language, Rogers denied a recusal motion by patent holder Cellspin Soft Inc, which argued that the judge had a financial stake in Alphabet Inc through her husband's jobs -- formerly as a partner at McKinsey & Company Inc and then as a contract partner for venture capital firm Ajax Strategies -- and through her multimillion-dollar investment in two broad-based Vanguard index funds. Alphabet owns Fitbit Inc, one of the half-dozen defendants Cellspin accused of infringing its patents on the automated distribution of multimedia content.The judge, who granted summary judgment to the defendants last June, after more than five years of litigation, explained at length why, in her view, Cellspin's "speculation" about her husband's financial connections to Alphabet and its subsidiary Google LLC was utterly specious. In a nutshell: He left McKinsey before Google acquired Fitbit and is not an equity partner at Ajax, where his sole role is to advise the boards of two portfolio companies in which Google has no stake."The accusations are frivolous and devoid of any evidentiary merit," the judge wrote. "Plaintiff's attack on the integrity of the judiciary ... not only demonstrates a measure of desperation but is divorced from the law and the facts."It's always fun to read indignant judicial opinions, but in the larger context of judicial ethics, the most important part of Rogers' opinion is her discussion of the investments that she and her husband have in two Vanguard funds whose underlying stock portfolios are calibrated to reflect stock indexes. One of the Rogerses' investments is in a fund linked to the Standard & Poor's 500 Index. The other is in an index fund for internationally traded stocks.The federal statute governing judicial recusals includes a safe harbor provision that says judges need not step aside if they have a financial interest in a party through a "mutual or common investment fund," as long as the judge does not have a role in managing the fund. In several reported decisions between 2011 and 2015, judges have held that index funds - including the very Vanguard S&P 500 fund in which Rogers and her husband invested - are, in essence, mutual funds and therefore included in the safe harbor.Cellspin's lawyers at Garteiser Honea argued, however, that by investing in the Vanguard funds, Rogers had chosen to take a financial interest in the shares of the large public companies that dominate the underlying indexes, including Fitbit owner Google and other defendants."Owning index funds is just another way to hold/own Google and Apple stocks," Cellspin argued. "Investing in an index fund ... provides a foreseeable investment in Google."Cellspin said that 2022 precedent from the Federal Circuit in Centripetal Networks, Inc. v. Cisco Systems, Inc. sets a more demanding standard for judges who own stock. (In that case, the appeals court ruled that a West Virginia judge was required to recuse based on his wife's ownership of about $5,000 in Cisco stock, even though he and his wife moved the shares into a blind trust partway through the litigation.)Cellspin's lawyers also said that by passing a new judicial disclosure law last year, Congress signaled how seriously it expects judges to think about their financial conflicts.Fitbit's counsel at Desmarais pointed out the potentially seismic consequences of Cellspin's index fund theory in their brief opposing Rogers' recusal. "Cellspin's flawed interpretation of the law," Fitbit said, "taken to its logical conclusion, would likely exclude Judge Gonzalez Rogers -- along with many, if not most, other federal judges -- from presiding in almost every case involving publicly traded corporations."Rogers was having none of it. The new law, she said, did not change the statutory provision offering a safe harbor for mutual fund investments. Nor, she said, did the Federal Circuit's Centripetal decision, which involved direct ownership of stock in a litigant before the judge. Rogers said the Vanguard funds in which she has invested "are prototypical examples falling into the safe harbors for mutual or common investment funds."In an email statement Cellspin counsel Scott Fuller of Garteiser insisted that the recusal motion was "neither baseless nor illogical," since the recusal standard requires judges to step aside even if there is an appearance of partiality, including bias from a financial conflict.Fuller added that policy concerns about a potential parade of recusals if judges were required to step aside based on index fund holdings cannot dictate the outcome of specific recusal demands. "Judges are free to make whatever investments they see fit to make (including owning specific stocks or funds) but the impact of such investments will necessarily require recusal in some cases in order to maintain and protect the public trust in the court system," he said.I reached out to defense lawyers for Fitbit, Nike Inc, Under Armour Inc, Fossil Group Inc and Garmin International Inc. All opposed Rogers' recusal. None got back to me.Read more:Justice best served by leaving intact a conflicted judge's ruling: 5th CircuitCongress approves tougher financial disclosure rules for U.S. judgesJudge's stock portfolio didn't taint class rulings: tuna plaintiffs to 9th Circuit (Reporting By Alison Frankel)By Alison Frankel \ No newline at end of file diff --git a/news/CSCO/2023.02.16/Toast, Boston Beer fall; Cisco, Crocs rise.txt b/news/CSCO/2023.02.16/Toast, Boston Beer fall; Cisco, Crocs rise.txt new file mode 100644 index 0000000000000000000000000000000000000000..d30799a8327c07b065b8279108e1f6b268798503 --- /dev/null +++ b/news/CSCO/2023.02.16/Toast, Boston Beer fall; Cisco, Crocs rise.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Thursday:Cisco Systems Inc., up $2.54 to $50.99.The seller of routers, switches, software and services gave investors an encouraging financial forecast.Twilio Inc., up $9.40 to $75.45.The communications software company reported strong fourth-quarter earnings and revenue.TravelCenters of America Inc., up $34.99 to $84.43.BP is buying the truck stop and travel center operator for about $1.3 billion.Community Health Systems Inc., up $2.66 to $7.74.The operator of acute care hospitals reported surprisingly strong fourth-quarter profits.West Pharmaceutical Services Inc., up $40.59 to $319.77.The medical device company's fourth-quarter financial results beat analysts' forecasts.Crocs Inc., up $5.53 to $131.20.The footwear company reported strong fourth-quarter earnings and revenue.Toast Inc., down $5.93 to $20.03.The restaurant software provider's fourth-quarter loss was bigger than Wall Street expected.Boston Beer Co., down $57.90 to $335.01.The brewer of Samuel Adams beer reported weak fourth-quarter financial results.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/CSCO/2023.02.16/Wall St futures slip ahead of inflation data.txt b/news/CSCO/2023.02.16/Wall St futures slip ahead of inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..7f48821ca0501720fc6e6be33d1c35001aad4bc6 --- /dev/null +++ b/news/CSCO/2023.02.16/Wall St futures slip ahead of inflation data.txt @@ -0,0 +1 @@ +Producer prices are expected to have climbed by 0.4% in January, on a month-on-month basis, according to a Reuters poll of economists, following a 0.4% fall in the previous month.However, the numbers are expected to have cooled to 5.4% on an annual basis, after a 6.2% increase in December.After a torrid 2022, the main stock indexes have climbed this year on the back of upbeat earnings and expectations that the U.S. central bank will switch to smaller rate hikes, pushing investors to scoop up beaten-down growth stocks.However, signs of a resilient economy and an acceleration in January consumer prices have recently raised concerns among traders that the central bank may not hit pause on its hawkish policies anytime soon, let alone pivot to cutting rates later this year.The Fed is seen pushing the benchmark rate above the 5% mark by May and keep it above those levels till the year-end. At 7:14 a.m. ET, Dow e-minis were down 24 points, or 0.07%, S&P 500 e-minis were down 6.5 points, or 0.16%, and Nasdaq 100 e-minis were down 27.25 points, or 0.21%.Separately, January housing starts and weekly jobless claims data will be released before the opening bell. Traders will also scrutinize remarks from a number of central bank officials including Cleveland Fed President Loretta Mester and St. Louis Fed President James Bullard later in the day to assess the central bank's tone on monetary policy going forward.Among stocks, Cisco Systems Inc rose 3% in premarket trading after the network gear maker raised its full-year earnings forecast.Roku Inc soared 12.1% after the company forecast first-quarter revenue above Wall Street estimates.Shopify Inc fell 9.7% after the Canadian retailer forecast slowing revenue growth for the current quarter despite price hikes and new product launches. (Reporting by Johann M Cherian in Bengaluru; Editing by Anil D'Silva) \ No newline at end of file diff --git a/news/CSCO/2023.02.16/Wall St slips as economic data fuels rate-hike worries.txt b/news/CSCO/2023.02.16/Wall St slips as economic data fuels rate-hike worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..7dbb7eb1b4d2c24a0556bad4e197030dc8b37902 --- /dev/null +++ b/news/CSCO/2023.02.16/Wall St slips as economic data fuels rate-hike worries.txt @@ -0,0 +1,43 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Jan producer prices up 0.7% vs est. of 0.4% rise*Cisco hits nine-month high after raising forecast*Roku soars as revenue forecast beats estimate*Indexes down: Dow 0.49%, S&P 0.48%, Nasdaq 0.50%Feb 16 (Reuters) - U.S. main stock indexes slipped on +Thursday after unexpectedly strong inflation data and a fall in +weekly jobless claims fed into fears that the Federal Reserve +will keep raising interest rates to tame high prices.A Labor Department report showed the highest rise in +producer prices in seven months in January as the cost of energy +products surged.It also showed the number of Americans filing new claims for +unemployment benefits unexpectedly fell last week, offering more +evidence that the labor market remains tight."The PPI was up almost twice the forecast and that is +clearly a negative for the market overall," said David Russell, +vice president of Market Intelligence at TradeStation."And when you consider how strong the job market is, the +expectation is that the Fed may raise rates a few more times and +then get to a point when it does not need to raise anymore, but +there's no reason for it to cut (later this year)."After a massive selloff in 2022, the main stock indexes have +climbed this year on the back of upbeat earnings and +expectations the U.S. central bank will switch to smaller rate +hikes.However, signs of a sturdy U.S. economy and an acceleration +in January consumer prices recently raised concerns among +traders that the Fed may not hit pause on its hawkish policies +anytime soon, with hopes of rate cuts later this year receding.The Fed is seen pushing the benchmark rate above the 5% mark +by May and keeping it above those levels till the year-end.Meanwhile, Cleveland Fed President Loretta Mester said +inflation remains too high and noted that she was open to +raising rates by more than what her colleagues wanted at the +last monetary policy meeting.Traders will also scrutinize remarks from other Fed +officials, including St. Louis Fed President James Bullard, to +assess the central bank's tone on monetary policy.At 12:32 p.m. ET, the Dow Jones Industrial Average +was down 168.59 points, or 0.49%, at 33,959.46, the S&P 500 +was down 19.94 points, or 0.48%, at 4,127.66, and the +Nasdaq Composite was down 60.96 points, or 0.50%, at +12,009.64.Ten of the 11 major S&P 500 sectors posted losses, with +technology and communication services +leading the declines.Tesla Inc slid 1% as the EV maker said it was +recalling 362,000 U.S. vehicles after the U.S. auto regulator +said its Full Self-Driving Beta software may cause a crash.Cisco Systems Inc rose 6.6% to hit a nine-month +high after the network gear maker raised its full-year earnings +forecast.Roku Inc soared 15.8% after it forecast +first-quarter revenue above market estimates.Shopify Inc sank 15% after the Canadian ecommerce +company forecast slowing revenue growth for the current quarter +despite price hikes and new product launches.Declining issues outnumbered advancers for a 1.78-to-1 ratio +on the NYSE and 1.49-to-1 ratio on the Nasdaq.The S&P index recorded six new 52-week highs and one new +low, while the Nasdaq recorded 61 new highs and 33 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; +Editing by Anil D'Silva, Sriraj Kalluvila and Shinjini Ganguli) \ No newline at end of file diff --git a/news/CSCO/2023.02.16/Wall St. ends down sharply on inflation, jobs data.txt b/news/CSCO/2023.02.16/Wall St. ends down sharply on inflation, jobs data.txt new file mode 100644 index 0000000000000000000000000000000000000000..472143d4889f3d61ac6edf32d2be0a29e8effc91 --- /dev/null +++ b/news/CSCO/2023.02.16/Wall St. ends down sharply on inflation, jobs data.txt @@ -0,0 +1 @@ +The Dow tumbled nearly 1.3%, the S&P 500 shed 1.4% and the Nasdaq plunged 1.8%.A Labor Department report out Thursday showed the highest rise in producer prices in seven months in January as the cost of energy products surged.It also showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, offering more evidence that the labor market remains tight."We absolutely could be headed for a period of stagflation...."Jason Ray, founder and investment director at Zenith Wealth Partners, says stagflation may be on the horizon, in which prices stay high amid an economic slowdown."As prices rise and the economy falls and stagnates, I think we definitely see a period of rising prices while we see slower economic growth. So I certainly see that in the cards for the U.S. economy. [FLASH] The median CPI is above 7% for the first time in decades, showing that we think prices are going to be very sticky and continue to rise until the Fed is really able to drill in its mandate and get inflation back to a reasonable level and reasonable amount."Among individual movers, Tesla slid 5.7% as the electric vehicle maker said it was recalling 362,000 U.S. vehicles and fixing them via an over-the-air software update after the U.S. auto regulator said its Full Self-Driving Beta software may cause a crash.Cisco Systems rose 5.2% and hit a nine-month high after the network gear maker raised its full-year earnings forecast.And Roku soared 11% after the video streaming company forecast first-quarter revenue above market estimates. \ No newline at end of file diff --git a/news/CSCO/2023.02.16/Wall Street dips as price and jobs data fuel rate-hike worries.txt b/news/CSCO/2023.02.16/Wall Street dips as price and jobs data fuel rate-hike worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..48354a9e6ffe90c4767a84c2097e553bb80be4ec --- /dev/null +++ b/news/CSCO/2023.02.16/Wall Street dips as price and jobs data fuel rate-hike worries.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Jan producer prices up 0.7% vs est. of 0.4% rise*Cisco hits nine-month high after raising forecast*Roku soars as revenue forecast beats estimate*Indexes: S&P 500 -0.39%, Nasdaq -0.48%, Dow -0.37%Feb 16 (Reuters) - Wall Street fell on Thursday after +unexpectedly strong inflation data and a drop in weekly jobless +claims added to fears that the Federal Reserve will keep raising +interest rates to tame high prices.A Labor Department report showed the highest rise in +producer prices in seven months in January as the cost of energy +products surged.It also showed the number of Americans filing new claims for +unemployment benefits unexpectedly fell last week, offering more +evidence that the labor market remains tight.Thursday's economic data and other reports this week paint a +picture of still-stubborn inflation and an economy that remains +relatively strong in the face of the Fed's rate hike campaign."With data like this, the Fed is going to keep raising +rates, and none of us want that," said Tim Ghriskey, senior +portfolio strategist at Ingalls & Snyder in New York. "There are +at least whispers now of the possibility of a 50 basis point +hike at the next meeting."After selloff in 2022, the S&P 500 has climbed almost 8% so +far in 2023, fueled by upbeat earnings and cautious expectations +the U.S. central bank has completed the brunt of its rate hike +campaign.The Fed is seen pushing the benchmark rate above the 5% mark +by May and keeping it above those levels till the year-end.Also on Thursday, Cleveland Fed President Loretta Mester +said inflation remains too high, and noted that she was open to +raising rates by more than what her colleagues wanted at the +last monetary policy meeting. St. Louis Fed President James +Bullard said continued rate increases will "lock in" slowing +inflation, even with continued economic growth.All 11 S&P 500 sector indexes declined, led lower by +consumer discretionary, down 0.51%, followed by a 0.5% +loss in information technology.In afternoon trading, the S&P 500 was down 0.39% at 4,131.36 +points.The Nasdaq declined 0.48% to 12,012.22 points, while the Dow +Jones Industrial Average was down 0.37% at 34,003.35 points.Tesla Inc slid 0.6% as the electric vehicle maker +said it was recalling 362,000 U.S. vehicles and fixing them via +an over-the-air software update after the U.S. auto regulator +said its Full Self-Driving Beta software may cause a crash.Cisco Systems Inc rose 6.2% to hit a nine-month +high after the network gear maker raised its full-year earnings +forecast.Roku Inc soared almost 18% after the video +streaming company forecast first-quarter revenue above market +estimates.Shopify Inc sank more than 15% after the Canadian +e-commerce company forecast slowing revenue growth for the +current quarter despite price hikes and new product launches.Across the U.S. stock market, declining stocks +outnumbered rising ones by a 1.4-to-one ratio.The S&P 500 posted 7 new highs and 1 new lows; the Nasdaq +recorded 70 new highs and 39 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and by Noel Randewich in Oakland, Calif.; Editing by Anil +D'Silva, Sriraj Kalluvila, Shinjini Ganguli and Aurora Ellis) \ No newline at end of file diff --git a/news/CSCO/2023.02.16/Wall Street ends down sharply as data fuels rate-hike worries.txt b/news/CSCO/2023.02.16/Wall Street ends down sharply as data fuels rate-hike worries.txt new file mode 100644 index 0000000000000000000000000000000000000000..90a332321fe0288e043c9eb35a6d32dfeeab9086 --- /dev/null +++ b/news/CSCO/2023.02.16/Wall Street ends down sharply as data fuels rate-hike worries.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Jan producer prices up 0.7% vs est. of 0.4% rise*Cisco hits nine-month high after raising forecast*Roku soars as revenue forecast beats estimate*Indexes: S&P 500 -1.38%, Nasdaq -1.78%, Dow -1.26%Feb 16 (Reuters) - Wall Street ended sharply lower on +Thursday after unexpectedly strong inflation data and a drop in +weekly jobless claims added to fears that the U.S. Federal +Reserve will keep raising interest rates to tame high prices.A Labor Department report showed the highest rise in +producer prices in seven months in January as the cost of energy +products surged.It also showed the number of Americans filing new claims for +unemployment benefits unexpectedly fell last week, offering more +evidence that the labor market remains tight.Thursday's economic data and other reports this week paint a +picture of still-stubborn inflation and an economy that remains +relatively strong in the face of the Fed's rate hike campaign."With data like this, the Fed is going to keep raising +rates, and none of us want that," said Tim Ghriskey, senior +portfolio strategist at Ingalls & Snyder in New York. "There are +at least whispers now of the possibility of a 50 basis point +hike at the next meeting."After a selloff in 2022, the S&P 500 has climbed about 7% so +far in 2023, fueled by upbeat earnings and cautious expectations +the U.S. central bank has completed the brunt of its rate hike +campaign.The Fed is seen pushing the benchmark rate above the 5% mark +by May and keeping it above those levels till the year-end.Also on Thursday, Cleveland Fed President Loretta Mester +said inflation remains too high, and noted that she was open to +raising rates by more than what her colleagues wanted at the +last monetary policy meeting. St. Louis Fed President James +Bullard said continued rate increases will "lock in" slowing +inflation, even with continued economic growth.Selling on Wall Street accelerated late in the session. The +S&P 500 declined 1.38% to end at 4,090.51 points.The Nasdaq declined 1.78% to 11,855.83 points, while Dow +Jones Industrial Average declined 1.26% to 33,696.39 points.Tesla Inc slid 5.7% as the electric vehicle maker +said it was recalling 362,000 U.S. vehicles and fixing them via +an over-the-air software update after the U.S. auto regulator +said its Full Self-Driving Beta software may cause a crash.Traders exchanged $47 billion worth of Tesla shares, +accounting for a fifth of all transactions in S&P 500 stocks.Cisco Systems Inc rose 5.2% and hit a nine-month +high after the network gear maker raised its full-year earnings +forecast.Roku Inc soared 11% after the video streaming +company forecast first-quarter revenue above market estimates.Shopify Inc sank almost 16% after the Canadian +e-commerce company forecast slowing revenue growth for the +current quarter despite price hikes and new product launches.Across the U.S. stock market, declining stocks +outnumbered rising ones by a 2.5-to-one ratio.The S&P 500 posted 9 new highs and 1 new lows; the Nasdaq +recorded 90 new highs and 58 new lows.Volume on U.S. exchanges was relatively light, with 11.0 +billion shares traded, compared to an average of 11.7 billion +shares over the previous 20 sessions. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and by Noel Randewich in Oakland, Calif.; Editing by Anil +D'Silva, Sriraj Kalluvila, Shinjini Ganguli and Aurora Ellis) \ No newline at end of file diff --git a/news/CSCO/2023.02.16/World Press Review: February 16.txt b/news/CSCO/2023.02.16/World Press Review: February 16.txt new file mode 100644 index 0000000000000000000000000000000000000000..e25fa833a75d69d2a97d9feb0b1e24665e9898b8 --- /dev/null +++ b/news/CSCO/2023.02.16/World Press Review: February 16.txt @@ -0,0 +1,4 @@ + +Nestlé, Airbus, Renault, Schneider Electric, Aveva, Pernod Ricard, Standard Chartered, Amazon, ASML, Heineken, Repsol, Grifols, Cisco, Tesla, Meta, Roku, AIG, BYD, Newcrest Mining & Newmont + + diff --git a/news/CSCO/2023.02.17/How To Prepare For A Security Engine : Be Yourself.txt b/news/CSCO/2023.02.17/How To Prepare For A Security Engine : Be Yourself.txt new file mode 100644 index 0000000000000000000000000000000000000000..23e41f9789a2f43e76cf2a0977006548a18abe86 --- /dev/null +++ b/news/CSCO/2023.02.17/How To Prepare For A Security Engine : Be Yourself.txt @@ -0,0 +1,162 @@ + + + + Interviews can be intimidating. That's why we spoke to engineers and hiring managers at Cisco to learn the 10 steps they recommend to put your best self forward in an engineering interview. Hint: Being yourself was the most popular piece of advice. If you're interested in being yourself at work, visit our open positions. + + +1. Track your greatest hits. + + + Maintaining a document of your career greatest hits is what Amy Vazquez, a customer data experience engineering leader, recommends. For each of those projects or initiatives, prepare stories that provide context about the project's purpose and problem meant to be solved. "You want to get very specific about what your role was. What was the value that you added? What was the impact that you had? And then for that project initiative, what was the outcome? What were the results? What was different at the end after having completed that work?" + + + + Software Engineer Hanna Fernandez also recommends having a portfolio of your engineering work. "Even if they're tiny personal projects, having code that you can show somebody and speak about is so good," she said. + + +2. Don't have a technical background? Don't count yourself out! + + +"If you want to join software engineering, you should do it," said David Rines, a senior engineering leader. For instance, while Senior Software Engineer Mario Lopez did have some relevant work experience, it hadn't been the main focus in his previous position as a systems administrator. However, Lopez believes that the industry is moving towards recognizing that having a non-technical background can be a positive. + + + Lopez explained that when tackling a problem working on Duo, he can consider how a systems administrator would interact with a product. "Highlighting that in your interview and showing how that could be useful is a great asset to have," Lopez said. + + + Rines explained that people who don't have a background in software engineering "bring a lot to the table because they're focused on the value software provides and are going to be very user and customer focused." + + +3. Research the company you're interviewing with. + + + Vazquez recommends "trying to find out if a company is really living up to their espoused values in terms of the work culture" by connecting with current or past employees. In terms of online resources, "Glassdoor is definitely where I go. You won't get the full picture from there, but you might see a few red flags, and companies can't delete a review," she said. + + + Doing this research not only gives you insights, it also makes you stand out to interviewers. Guillaume Dury, a site reliability engineering (SRE) manager, said: "When I do interviews and ask, 'Why do you want to join Duo Security?' when I get somebody who's well prepared and has an answer that is aligned with their profile and aspiration, it can definitely leave a good impression." + + + +4. Get feedback on your resume. + + + Before focusing exclusively on interview prep, Fernandez says, "It really starts from the ground up: resumes are so important." She recommends getting someone to look at your resume, even a friend. + + + If you don't hear back or don't get an interview after applying for a job, Fernandez encourages candidates to ask for feedback on their resume "because that's pretty much a recruiter's first impression of you and whether or not you would fit their role," she said. + + +5. To prep for technical engineering interviews: practice, practice, practice. + + + Practicing for a technical interview helps you feel more prepared and matters to hiring managers. "When candidates are well prepared for a technical exam and have things fresh in their mind, it shows me that they'll bring that same attitude to work," said Blake Ellingham, an SRE manager. + + + To prepare, Rines recommends doing problems you haven't done before, thinking about your logic, and checking your logic because, "that's what we're going to care about. Why did you make those decisions?" he said. + + + Fernandez and SRE Nick Aspinall suggest using websites to practice coding and watching videos that break down concepts. They also recommend practicing interviewing skills with friends, including having them watch you code so you can get used to those situations. + + + SRE Manager Jaya Sistla shared that in a technical interview, hiring managers are considering how candidates think about a problem rather than how thorough they are with an algorithm. Questions she's discerning in an interview include, "Are they able to communicate the code that they are writing? Are they able to solve the problem? How readable is the code?" In second-round technical interviews, Sistla wants to learn if candidates are familiar with the different components of architecture and system design and their purposes. + + +6. For behavioral engineering interviews: Your stories matter, even when things didn't go perfectly. + + + Ellingham explains that for behavioral style questions, candidates are asked to respond in stories. To determine which stories to share, Sistla suggests asking yourself: "What are the key milestones that you have reached in your career or key projects that you have worked on?" For early career engineers, consider what projects you have done in your courses and how you've collaborated with fellow students. + + + The team recognizes that, "things don't always go perfectly, and that's okay. We're looking for people to own up to their mistakes and admit where they could have done better and how they would change it the next time around," Ellingham said. + + + Openness and honesty allow hiring managers to imagine you on their team. "Be open, because that's how we want you to behave at Duo when you arrive - that you'll level with us as individuals and humans. If you can do that in an interview, we think you can do that on a day-to-day basis," Rines said. + + + +7. Pay attention to your interview experience. + + + When you're being interviewed, you're also figuring out whether the company is a good fit for you. Taking note of how you're treated can be a gauge of how you might be treated as an employee. When interviewing with Duo, Lopez appreciated seeing how interviewers interacted with him and asked himself, "Would I enjoy working with this person? For me it was a yes," he said. + + + For Fernandez's interview, "the thing that got me is that for every question that people asked I would answer and then they would have great, insightful follow-up questions. It was really cool to feel listened to," she said. + + +8. Ask questions and remember that the interviewer wants this to go well, too. + + + Aspinall's go-to question suggestions: Ask what the role is like and ask about the culture. Those kind of questions "show that you are curious and that you see yourself in that role," he said. To understand company culture, Lopez suggests asking: "What are the opportunities to grow and learn, and is there room for cross-organization collaboration?" + + + "You're not expected to know everything, and you're going to be growing. If there's something you don't understand, ask the question," Lopez said. "We understand interviews can be intense, sometimes they're a little bit intense for myself as the interviewer. I want folks to see Duo is a fantastic place to work, learn and grow." + + +9. Remember that your passion will come through. + + + + SRE Manager Stacey Young says that "there is a lot to be said for understanding your craft, knowing your craft, and first and foremost, loving your craft." + + + "If you're in a tech field -whether it be cybersecurity, SRE, software development - if you love what you do, it shows. Most of the people here that I've encountered love what they do, and it comes through in an interview," she said. + + +10. Most popular tip: Be yourself. + + + "First and foremost, be who you are. When you're yourself, it shows just like they say when smiling on a phone call - you can hear it," Young said. I heard this advice more than any other. + + + Remember, a company wants to hire you for who you are. "There's no point in putting on a mask or pretending to be something that you aren't. Just be yourself and let your true personality come out, because that's the best thing about everyone," Aspinall said. + + + + Humanity goes both ways. "We're all people behind the screen. I want to work in a space where I feel comfortable being myself, expressing myself and showing my personality at work. I really do think it shows at Duo." + + + Senior SRE Bernard Ting says as an interviewer the question he most wants to come away with an answer to is: Do we think that we can collaborate well with you on challenging problems? For him to be able to answer that question, you being yourself is imperative. + + + "Having a good, balanced team is an important thing. We're not always searching for just the most technically expert people. Sometimes we want people that we can grow, that we can teach and train up to that level of expertise that we need. Be yourself, be open and show us that we can have a good collaborative environment," he said. + + + Interested in a security engineering interview with us? + + + Join our team. + + +We'd love to hear what you think. Ask a Question, Comment Below, and Stay Connected with Cisco Secure on social! + + +Cisco Secure Social Channels + + +Instagram +Facebook +Twitter +LinkedIn + + + Share: + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 17 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 February 2023 13:05:01 UTC. + + diff --git a/news/CSCO/2023.02.20/Cisco : St. Louis CITY SC Partner to Connect World-Class CITYPARK Stadium District.txt b/news/CSCO/2023.02.20/Cisco : St. Louis CITY SC Partner to Connect World-Class CITYPARK Stadium District.txt new file mode 100644 index 0000000000000000000000000000000000000000..92a270e40757dac996b5db70eb05038074d86783 --- /dev/null +++ b/news/CSCO/2023.02.20/Cisco : St. Louis CITY SC Partner to Connect World-Class CITYPARK Stadium District.txt @@ -0,0 +1,71 @@ + + + News Summary: + + + + Cisco will serve as a Proud Technology Partner of St. Louis CITY SC, leveraging its networking, security, Wi-Fi and digital signage solutions throughout the club's new 31-acre stadium district, CITYPARK. + + + Cisco and CITY have a shared vision to create one of the most connected and fan-centric environments in Major League Soccer. + + + This announcement builds upon Cisco's extensive involvement across global football, leveraging its industry-leading solutions and expertise to connect some of the most beloved and prestigious clubs around the world, including Manchester City F.C., Real Madrid F.C. and many more. + + + +SAN JOSE, Calif., February 20, 2023 - Cisco and St. Louis CITY SC have partnered to create one of the most connected and fan-centric environments in Major League Soccer. Cisco will serve as a Proud Technology Partner of the club, leveraging its solutions across networking, security, Wi-Fi and digital signage to help ensure fans are able to have one of the most immersive matchday experiences in sports. + + + An industry leader in connecting and securing the largest sports and entertainment events in the world, Cisco is implementing a state-of-the-art, fully converged network across CITYPARK's 31-acre stadium district that also includes the club's stadium, training center, team headquarters and two-story team store. CITYPARK will leverage Wi-Fi 6, Cisco's next generation wireless standard, to deliver faster speeds for immersive experiences, more bandwidth (four times greater capacity than the previous Wi-Fi standard) and higher reliability, all while being less taxing on a device's battery. + + + CITYPARK is one of only a handful of MLS-specific stadiums to deploy Cisco's Wi-Fi 6 technology, which has been delivering record-setting results in leading venues around the world including SoFi Stadium in Los Angeles and State Farm Stadium in Glendale, Arizona - sites of Super Bowl LVI and LVII, respectively. + + + "As a next-generation venue with frictionless markets and mobile-first technologies at the forefront of CITYPARK's engagement, an innovative fan experience is reliant on a robust and secure connectivity," said Matt Sebek, St. Louis CITY SC's Chief Experience Officer. "Every piece of data flows through Cisco's converged technology, allowing us to streamline IT operations and provide heightened experiences through elevated video distribution, point-of-sale devices, digital signage, real-time app engagement and so much more." + + + In addition, Cisco will also deploy its industry-leading cybersecurity solutions throughout the CITYPARK district, providing the visibility and resiliency needed to ensure that the club and its fans are always connected and protected. Cisco is relied upon to secure the largest sports and entertainment events in the world, including Super Bowl LVII in Arizona and the 2024 Olympic and Paralympic Games in Paris. Additionally, Cisco's IPTV technology, a dynamic, end-to-end signage solution that combines high-definition video delivery with state-of-the art digital signage, will be implemented at CITYPARK. The 4K deployment will power screens across the stadium district, all entirely customizable and centrally managed via one point of control. + + + "CITYPARK is designed to be a one-of-a-kind sporting campus, with a world-class infrastructure that will allow it to serve as a platform for innovation for years to come," said Ken Martin, Managing Director, Global Sales - Sports, Media and Entertainment, Cisco. "By partnering with Cisco, CITY SC is making a clear commitment to providing its fans, visitors, coaches and players an unparalleled and seamless experience across the entire district." + + + Today's announcement builds upon Cisco's extensive involvement across global football, leveraging its industry-leading solutions and expertise to connect some of the most beloved and prestigious clubs around the world, including Manchester City F.C., Real Madrid F.C. and many more. + + +About Cisco + Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco. + + + Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. + + +Media Contact + Matt Van Tuinen, Cisco Sports & Entertainment PR + + + +1 773-860-5828 + + + mvantuin@cisco.com + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Cisco Systems Inc. published this content on 20 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 February 2023 13:09:05 UTC. + + diff --git a/news/CSCO/2023.02.21/Cisco and NEC to Bring 5G Connectivity and Automation to Networks Across the Globe.txt b/news/CSCO/2023.02.21/Cisco and NEC to Bring 5G Connectivity and Automation to Networks Across the Globe.txt new file mode 100644 index 0000000000000000000000000000000000000000..dd0ceaaa0de0fa2a700c7cfa27558b29480cbbe8 --- /dev/null +++ b/news/CSCO/2023.02.21/Cisco and NEC to Bring 5G Connectivity and Automation to Networks Across the Globe.txt @@ -0,0 +1 @@ +TOKYO, Feb 22, 2023 - (JCN Newswire) - - Cisco and NEC Corporation (TSE: 6701) today announced plans to expand their collaboration efforts to include system integration solutions and potential opportunities in 5G xHaul and private 5G to help customers transform their architecture and connect more people and things. End-to-End 5G xHaul AutomationCisco and NEC have expanded areas of collaboration under their Global Systems Integrator Agreement (GSIA) with augmented solutions for scalable 5G xHaul transport networks, such as enhanced capabilities for end-to-end automation and routed optical networking to support operators' monetization of 5G. Following the initial signing of the GSIA two years ago, the companies combined their respective strengths to expand geographical coverage of their solutions with stronger, faster connections for global operators such as Telefonica Vivo. With increasing traffic surges, demand for faster time to market with assured quality, and the need to innovate from transport to the edge, the companies have agreed to expand areas of collaboration including enhanced automation and routed optical networking. As part of the new collaboration, NEC will leverage its vast ecosystem and expertise as a global network integrator to overcome the complexity of multi-vendor networks. The company's 5G Transport Centers of Excellence in EMEA and LATAM, with both local and regional engineering capabilities and a pool of global experience, will play a central role in navigating customers' end-to-end network lifecycle and optimization in a phased approach. With extensive experience, leadership, and knowledge of the industry, combined with a commitment to research and development, Cisco will provide industry-leading solutions that meet growing customer demands. "The needs for modernized architecture in 5G have steadily enhanced our partnership with Cisco, leading us to this next level of partnership," said Hideyuki Ogata, General Manager, Service Provider Solutions Department, NEC. "The industry-leading solutions from Cisco and our ecosystem partners, combined with our world-class network integration capabilities, enable us to deliver compelling solutions to multiple operators and verticals across the world.""Partnering with world-class technology leaders is essential to reaching the future of connectivity that we know is possible," said Sanjay Kaul, President, Service Provider Business, Asia Pacific & Japan, Cisco. "That is why our partnership with NEC is so special. Our multi-level collaboration has enabled some of the largest IP Networks in the world using breakthrough architectures that change economics with routed optical networking, virtual routing, and 5G radio interoperability." Private 5GTaking a new approach to networking and connectivity is fundamental. In addition to transport xHaul networks, the two companies plan to work together in areas of IoT, 5G, and Wi-Fi, driving the next wave of industrial transformation. Under the Cisco's Country Digital Acceleration program, work is in progress to qualify NEC's new UNIVERGE RV 1200 radio with Cisco's Private 5G solution at Cisco's 5G Showcase in Tokyo, a world-leading 5G services incubation hub and Cisco engineering site to deliver game-changing private 5G solutions in the Japanese market. The NEC UNIVERGE RV 1200 radio is designed and developed for the Japanese private 5G market. It is unique in that it's all-in-one with RU/CU/DU in a single unit, compact and light weight, and positioned for both indoor and outdoor use, providing increased flexibility and scalability for installation. "We are pleased to add private 5G for business to our long-standing strategic partnership between Cisco and NEC," said Suhun Yun, Managing Director, Digital Network Business Division, NEC. "We look forward to the expansion of the partnership between the two companies, which will help accelerate private 5G market expansion and further efforts to address social issues."About NEC CorporationNEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of "Orchestrating a brighter world." NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.About CiscoCisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner or partnership does not imply a partnership relationship between Cisco and any other company. License or authorization may be required to sell private 5G related solutions in some countries. The timing of selling these solutions depends on the authorization status in each country.Copyright 2023 JCN Newswire . All rights reserved.© Japan Corporate News, source JCN Press Releases \ No newline at end of file diff --git a/news/CSCO/2023.02.23/Fast, Reliable Wi-Fi for Standard Power Devices across Brazil Supported through Ground-...txt b/news/CSCO/2023.02.23/Fast, Reliable Wi-Fi for Standard Power Devices across Brazil Supported through Ground-...txt new file mode 100644 index 0000000000000000000000000000000000000000..68ce46521b5186f2962071a3d0f358141dd77366 --- /dev/null +++ b/news/CSCO/2023.02.23/Fast, Reliable Wi-Fi for Standard Power Devices across Brazil Supported through Ground-...txt @@ -0,0 +1 @@ +Brasília, Brazil -- Wireless broadband access in Brazil will be expanded through the standard power unlicensed use of the 6 GHz as a result of a partnership between the biggest civil association for Internet Service Providers (ISPs) in Brazil (ABRINT) and the Dynamic Spectrum Alliance (DSA), alongside its member companies Broadcom Inc. and Cisco Systems Inc.With the publishing of public consultation N° 79 in November 2022, Brazilian regulator ANATEL has proposed the outdoor use of the 6 GHz band by Access Points (classified as restricted radiation equipment) under the control of Automated Frequency Coordination (AFC) systems. If enacted, this would further advance broadband connectivity throughout Brazil by allowing outdoor use for Access Points at higher powers to increase the coverage area.In addition, standard power operations will allow ISPs to expand their internet coverage by extending the fiber coverage another few kilometers via a wireless point to point microwave link, whilst protecting existing licensed operations in the band.To this end, ABRINT is partnering with the DSA and its member companies Broadcom and Cisco, to provide AFC technology and capability to ISP operators in Brazil. Both Broadcom and Cisco are the founders of the Telecom Infra Project's Open AFC Software Project, which is designing a fully functioning open AFC platform that can be downloaded by members to provision AFC services."All parties involved in this exciting partnership believe that this will benefit Brazilian users with improved broadband connectivity," said Martha Suarez, President of the DSA. "The DSA looks forward to working with ABRINT under this agreement and would like to compliment ANATEL for its leadership in providing reliable Wi-Fi for all Brazilians."In 2021, ANATEL enabled Brazil to become one of the first countries to open up unlicensed access in the 5925 - 7125 MHz band for low power indoor devices and very low power portable devices. This greatly advanced the country's connectivity goals and helped support over 20,000 ISPs to provision more reliable W-Fi using the 6 GHz band. Today, ISPs lead in growth and market share, providing Internet connectivity for more than 50% of nearly 45 million fixed access points, which are mostly enabled via fiber to the home (FTTH). The agreement between ABRINT, DSA and its member companies will provide further support to the ISPs across Brazil, with the aim to provide reliable Wi-Fi for all."This will strengthen cooperation between these entities and provide the rollout for information exchange to maximize the full benefits of 6 GHz Wi-Fi," said Mauricélio Oliveira Junior, Director General of ABRINT. "Whether Wi-Fi 6E today, or Wi-Fi 7 in the near future, it will ensure that existing services are protected from interference."The capabilities are currently designed around the US and Canadian requirements, but as a result of the new collaboration, Broadcom and Cisco have committed to modifying the Open AFC code to meet the requirements of Brazil, once finalized by the regulator. The DSA will be responsible for training ISPs on AFC, and how it can be used to provision wireless services."Broadcom is thrilled to partner with ABRINT to further accelerate and support the forward leaning 6 GHz unlicensed spectrum policies being enacted by ANATEL," said Christopher Szymanski, Director of Product Marketing for the Wireless Communications and Connectivity Division at Broadcom. "We applaud ANATEL's dedication to enabling Brazilian Internet Service Providers to level up the broadband experience for their subscribers. We are fully committed through Open AFC to develop an individualized AFC platform for Brazil that can be used by operators to provision outdoor and higher caliber wireless internet once ANATEL enables standard power 6 GHz Wi-Fi.""Cisco has been a proud partner in Brazil for over 25 years, with a new WebEx call center and in-country manufacturing operations that will soon include Wi-Fi 6E devices," said Matt MacPherson, wireless CTO at Cisco. "This collaboration with ABRINT is just the latest example of our company's commitment to Brazil's digital acceleration. ANATEL has led Latin America in making the full 6 GHz band available for Wi-Fi. Creating a Brazil-focused Open AFC platform capitalizes on that leadership and will help ensure that all Brazilians have access to the high-quality wireless service that comes from standard power 6GHz Wi-Fi."-ENDS-About the Dynamic Spectrum AllianceThe Dynamic Spectrum Alliance is a global organization advocating for laws and regulations that will lead to more efficient and effective spectrum utilization. The DSA's membership spans multinationals, small- and medium-sized enterprises, and academic, research, and other organizations from around the world, all working to create innovative solutions that will increase the amount of available spectrum to the benefit of consumers and businesses alike. Visit http://www.dynamicspectrumalliance.org/.To find out more about the DSA and its mission, please visit its website.Media EnquiriesFor all media enquiries, please contact Proactive PR at dsa@proactive-pr.com.Source: RealWire.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/CSCO/2023.02.27/Cisco @ Mobile World Congress : Showcasing Simple and Secure Wireless Experiences to Help ...txt b/news/CSCO/2023.02.27/Cisco @ Mobile World Congress : Showcasing Simple and Secure Wireless Experiences to Help ...txt new file mode 100644 index 0000000000000000000000000000000000000000..ee3b6e62a2763c52c294e6e8bf1272b801e65f31 --- /dev/null +++ b/news/CSCO/2023.02.27/Cisco @ Mobile World Congress : Showcasing Simple and Secure Wireless Experiences to Help ...txt @@ -0,0 +1,35 @@ + + +News Summary: +Cisco spotlights new projects with global partners including BT Group, KPN, Telenor, Telstra, Telus, Tele2, and TIM to help enterprise customers manage IoT deployments with simplicity, automation and speed.New wireless, cloud and IoT products and solutions launching include Cisco's Mobility Services platform for advanced mobile IoT use-cases, Cisco Meraki MG51 and MG51E 5G Gateways for business internet, Wi-Fi6E-ready products, routing solutions for hybrid work, and more.Cisco is working with Mercedes-Benz to provide an optimal mobile office experience in new Mercedes-Benz E Class vehicles; Webex by Cisco will serve as the luxury sedan's first collaboration application.Cisco Executive Vice President and General Manager of Security and Collaboration, Jeetu Patel, will deliver a keynote with McLaren CTO Ed Green, "Winning F1 races: Behind the scenes with Webex and McLaren Racing": Wednesday, 1 March, 1:15 - 2:15 pm CET, MWC Stage C, Hall 6BARCELONA, Spain, Feb. 27, 2023 /PRNewswire/ -- MOBILE WORLD CONGRESS -- Visitors to the Cisco booth at Mobile World Congress in Barcelona will see and hear how Cisco is working closely with communication service providers, system integrators, and device makers to deliver simple, secure wireless experiences to connect everything, everywhere.  + + + + + + + +"To succeed in the digital era, businesses must rely on new software platforms, 5G, and new Wi-Fi connectivity solutions," said Jonathan Davidson, Executive Vice President and General Manager, Cisco Networking. "We look forward to meeting with customers to introduce new solutions including the Cisco Mobility Services platform powered by our 5G and Edge Cloud technology stack and IoT Control Center, 5G SA packet core, and global edge compute delivered together with Qwilt. With Cisco Private 5G and new 5G Meraki routers offering cloud-managed 5G WAN connectivity, we're giving service providers what they need to pursue new business models and accelerate digital transformation across industries." +Transforming Industries +Cisco is helping service providers in more than 100 countries build the Internet for the Future to empower autonomous industries and connected communities. With smart, open, 5G infrastructure, the Cisco Mobility Services platform powering more than 200 million devices, and an unmatched security portfolio, the company supports a wide range of IoT use cases aligned to customers' needs. New projects are underway with partners including BT Group, KPN, Telenor, Telstra, Telus, Tele2, and TIM to help enterprise customers simplify network operations and automate processes to manage IoT deployments of all sizes with speed. More details here. +Leading in Transportation +To help people get work done safely, securely, and comfortably in their vehicles, Cisco today announced it is working with Mercedes-Benz to provide an optimal mobile office experience in new Mercedes-Benz E Class vehicles. Webex by Cisco will serve as the luxury sedan's first collaboration application, and the partnership reenforces Mercedes-Benz and Cisco's joint commitment to innovation in hybrid work and connected vehicles. More details here. +Accelerating 5G +From managed services to cloud-native telco stacks, Routed Optical Networking, and edge computing solutions, here are new examples of how Cisco is helping its customers drive 5G innovation to serve enterprise needs: +Cisco Launches Meraki 5G Gateways with T-Mobile to Deliver Simple and Scalable Business Internet: Cisco and T-Mobile announced plans to offer businesses Cisco Meraki's first-ever 5G cellular gateways, the MG51 and MG51E. More details here.stc Collaborates with Cisco to Accelerate stc's Cloud Journey for Greater Agility and Efficiency: Seeking new ways to differentiate and deliver business outcomes through agile, secure infrastructure, stc has transformed its network to improve the economics of 5G and cloud stacks and create faster and more compelling connected experiences at scale. More details here.V.tal Engages Cisco to Build the Internet for the Future with a Multi-Tenant 5G Network in Brazil: V.tal is working with Cisco to build a multi-tenant 5G xHaul network in Brazil to accelerate the deployment of 5G and related service innovations. More details here.New and Expanded Partnerships +Cisco and Intel Collaborate to Drive Private 5G Technology Innovation and Global IoT Adoption to Connect Everything, Everywhere: Cisco and Intel intend to collaborate in building Global 5G Innovation Centers to test 5G applications and use cases to help drive growth and adoption of 5G for business. More details here.Cisco and NEC to Bring 5G Connectivity and Automation to Networks Across the Globe: Cisco and NEC's enhanced collaboration efforts include system integration solutions and potential opportunities for automation, 5G, and routed optical networking to meet increasing customer demands across the world. NEC's new 5G radio, UNIVERGE 1200, is in the process of being qualified with Cisco Private 5G. More details here.Cisco and NTT Collaborate to Bring Private 5G to Enterprise Customers and Accelerate Industry Transformation: NTT and Cisco plan to work together to co-innovate and bring to market the technology and value-added services that will enable enterprise customers to deploy Private 5G across the Automotive, Logistics, Healthcare, Retail, and Government sectors. More details here.Cisco and Qualcomm Technologies, Inc. are combining efforts to help simplify the automation, management, and orchestration of multi-vendor RAN systems to accelerate Private 5G benefits for enterprises. Cisco, Red River, and Federated Wireless align to bring the benefits of Cisco Private 5G to U.S. government customers: Public sector customers can leverage the industry-leading expertise and combined strengths of Cisco, Red River integration services, and Federated Wireless private wireless and spectrum management to improve and extend wireless experiences and drive operational efficiencies across their mission-critical deployments.Webex Meetings is now on new Samsung Galaxy flagship smartphones to increase efficiency for hybrid workers wherever and however they get work done. More details here.New Products and Solutions +Cisco introduces the following new platform, products, and solutions to power connectivity across the network spanning IoT, 5G Fixed Wireless Access, Wi-Fi, Routing, and more: +Cisco Mobility Services: Cisco Mobility Services platform, delivered as a service, simplifies how communication service providers build, manage, secure, and deliver new mobile services on a global scale. More details here.Cisco Meraki MG51 5G Gateway: Cisco Meraki's first 5G gateway enables customers to auto-provision and cloud-manage an ultra-high bandwidth, 5G-powered WAN uplink from the Cisco Meraki platform. More details here.Cisco Catalyst Wireless Gateway with Secure Remote Access: Cisco is giving hybrid and remote workers more choices to connect with cellular or wired broadband with the integration of the Cisco Catalyst Wireless Gateway and Cisco SD-WAN Remote Access; Cisco's cloud-powered SASE architecture provides unified security and compliance.Combined Wi-Fi6E and Ultra Reliable Wireless Backhaul Endpoint: With its new Catalyst Rugged Access Point/Wireless Client and Catalyst Heavy Duty Access Point, Cisco now has a comprehensive range of Wi-Fi 6/6E-ready products for connecting fixed and mobile endpoints in industrial environments where cellular is not an option.Executive Keynotes and Speaker Sessions +Cisco Executive Vice President and General Manager of Security & Collaboration, Jeetu Patel, will deliver a keynote with McLaren CTO Ed Green on "Winning F1 races: Behind the scenes with Webex and McLaren Racing": Wednesday, 1 March, 1:15 - 2:15 pm CET, MWC Stage C, Hall 6Kristen Nichols Session, Senior Vice President, Chief of Staff and COO, Cisco Networking, will be speaking on two panel sessions on Diversity, Equity, and Inclusion: "Being Ambitious for Diversity, Equity & Inclusion in the Telecoms Industry: Aligning DE&I with Core Business and Growth Goals": Tuesday, February 28, 10:20 am CET, Stage A, and "DE&I Accountability and Engagement at Leadership Level": Wednesday, 1 March, 9:15 am CET, Stage A. Matt Price, Vice President, Subscriber Engineering and Mobility, Cisco Networking, will be speaking on the panel session, "Realizing the Ambitions of the Connected Enterprise": Wednesday, 1 March, 3:45-4:15 pm CET, MWL Broadcast Studio, Hall 4Live Demos +Seeing is Believing: Learn from Cisco experts as they present live demos of solutions designed to help communication service providers automate and simplify network operations, build prioritized network traffic slices to guarantee service SLAs, transform workplaces into smart spaces to meet sustainability goals, and grow new revenue streams with managed services.Experience the Cisco NOC: Guests can experience a stand-up network operations center (NOC) featuring advancements in wireless, Webex, and the latest innovations from Cisco partners.Cisco Wi-Fi at MWC Barcelona 2023 +For the tenth year, Cisco is partnering with the Fira de Barcelona Gran Via venue to offer all attendees simple, seamless, and secure wireless experiences— with WBA OpenRoaming, featuring the latest in Cisco Catalyst Wi-Fi 6/6E technology and Cisco DNA Center network management. More details here.Additional Resources: +Cisco at MWC Barcelona 2023Cisco Private 5GCisco Meraki MG51Cisco Meraki MG51EAbout Cisco +Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco.Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. +This press release may contain forward looking statements relating to future events or future financial performance that involve risks and uncertainties. Such statements can be identified by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of such terms or comparable terms. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including those identified in the company's filings with the SEC. +Cisco Public Relations Sara Cicero stutzes@cisco.com  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cisco--mobile-world-congress-showcasing-simple-and-secure-wireless-experiences-to-help-businesses-connect-more-people-and-things-301756203.html +SOURCE Cisco Systems, Inc. + + diff --git a/news/CSCO/2023.02.27/Cisco Launches Meraki 5G Gateways with T-Mobile to Deliver Simple and Scalable Business...txt b/news/CSCO/2023.02.27/Cisco Launches Meraki 5G Gateways with T-Mobile to Deliver Simple and Scalable Business...txt new file mode 100644 index 0000000000000000000000000000000000000000..e1bc972c6f37c16bf308e670235153f1cc2c78b2 --- /dev/null +++ b/news/CSCO/2023.02.27/Cisco Launches Meraki 5G Gateways with T-Mobile to Deliver Simple and Scalable Business...txt @@ -0,0 +1,5 @@ +BARCELONA, Spain, Feb. 27, 2023 /CNW/ -- Mobile World Congress --Today at Mobile World Congress in Barcelona, Cisco and T-Mobile announced plans to offer businesses Cisco Meraki's first-ever 5G cellular gateways for fixed wireless access (FWA), the MG51 and MG51E. + + + +Considering the often lengthy and uncertain installation timelines, gated and restrictive bandwidth plans and inconsistent nationwide availability — wired broadband is hardly the ideal solution for all businesses. Now, Cisco and T-Mobile are smashing all these pain points. Thanks to this solution, businesses of all sizes will be able to create enriching and differentiated experiences for their customers using simplified, scalable, and reliable network managed services powered by T-Mobile's 5G network and the cloud-first Cisco Meraki platform.  Connecting Businesses with Cisco Meraki Networking on T-Mobile 5G and Managed ServicesThe Cisco Meraki MG51 and MG51E cellular gateways introduce a new, 5G-powered, cloud-first way of doing wide area networking (WAN). With the full-stack Cisco Meraki secure software-defined branch (SD-branch) platform, T-Mobile for Business customers will be able to take advantage of the cloud-native Cisco Meraki platform on America's largest, fastest and most reliable 5G network. The T-Mobile managed service will offer a range of advanced capabilities based on the Cisco Meraki platform, including:"We have crossed many 5G milestones and world-firsts with Cisco and today is no exception as T-Mobile is the first to offer this cutting-edge Cisco Meraki technology," said Mishka Dehghan, SVP, Strategy, Product, and Solutions Engineering, T-Mobile Business Group. "This marks another significant achievement in how T-Mobile delivers to businesses the fastest and simplest way to scale 5G business internet anywhere.""The future of connectivity is wireless, and Cisco and T-Mobile are helping customers across all industries realize how 5G wireless technology can transform their business," said Masum Mir, Senior Vice President, Provider Mobility, Cisco Networking. "Together, we are leading the new era of 5G, helping businesses from small to large with simple, secure and reliable connectivity solutions that help them go fast and grow fast."Additional Resources:About CiscoCisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco.Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.Cisco Public RelationsSara Cicerostutzes@cisco.com About T-Mobile US, Inc. T-Mobile US Inc. (NASDAQ: TMUS) is America's supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile's customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Sprint. For more information please visit: https://www.t-mobile.com.Media ContactsT-Mobile US, Inc. Media Relations MediaRelations@t-mobile.com  Investor Relations ContactT-Mobile US, Inc. investor.relations@t-mobile.comhttp://investor.t-mobile.com View original content to download multimedia:https://www.prnewswire.com/news-releases/cisco-launches-meraki-5g-gateways-with-t-mobile-to-deliver-simple-and-scalable-business-internet-301756206.htmlSOURCE Cisco Systems, Inc.© Canada Newswire, source Canada Newswire English \ No newline at end of file diff --git a/news/CSCO/2023.02.27/Cisco and NTT Collaborate to Bring Private 5G to Enterprise Customers to Accelerate Ind...txt b/news/CSCO/2023.02.27/Cisco and NTT Collaborate to Bring Private 5G to Enterprise Customers to Accelerate Ind...txt new file mode 100644 index 0000000000000000000000000000000000000000..4bcefa867ea1fd3ea9e5610e5c9c88704c2e50d8 --- /dev/null +++ b/news/CSCO/2023.02.27/Cisco and NTT Collaborate to Bring Private 5G to Enterprise Customers to Accelerate Ind...txt @@ -0,0 +1 @@ +Cisco, a worldwide leader in technology, and NTT Ltd., a leading IT infrastructure and services company, announced plans to collaborate to drive Private 5G adoption across the Automotive, Logistics, Healthcare, Retail and Public sectors.NTT and Cisco plan to co-innovate and jointly bring to market the technology and managed services that will enable enterprise customers to deploy Private 5G successfully and achieve better business outcomes. The companies plan to accelerate edge connectivity through NTT's first-to-market, Managed Private 5G solution, combined with Intel hardware, so that Cisco and NTT customers will be able to seamlessly integrate Private 5G into their pre-existing LAN/WAN/Cloud infrastructure.Together, the companies can rapidly enable critical Industry 4.0 capabilities such as push-to-talk 'walkie talkie' communications, automated guided vehicles (AGVs), always connected PCs (for digital frontline workers), machine vision (e.g. predictive maintenance, PPE detection), and more.Cisco and NTT have already begun coordination on several customer deployments. In addition, the two companies are planning to power computer vision for product quality analysis, predictive analytics for manufacturing equipment functionality and maintenance, and autonomous vehicles for moving product on the factory floor, leveraging NTT's IoT connected solutions.Together with NTT, we aim to help our enterprise customers accelerate digital transformation, with the power of 5G and Wi-Fi across IT and OT operations,' said Masum Mir, Senior Vice President and General Manager, Provider Mobility, Cisco Networking. 'Our cloud-managed private 5G offers customers seamless integration with their Enterprise network fabric along with common policy and zero trust security architecture, helping to reduce technical, financial, and operational risks associated with managing 5G networks, so they can focus on driving business agility and efficiency.'This is a natural expansion of the cutting-edge capabilities and services NTT brings to market to help our global clients modernize their businesses. NTT and Cisco are building on our mutual commitment to build a simple to manage pure private network solution,' said Shahid Ahmed, Executive Vice President, New Ventures & Innovation at NTT. 'As a premier systems integrator partner to Cisco, the two companies are well positioned to deliver a secure, reliable and future-proof private 5G network for our joint enterprise customers with global footprints.'For Cisco's Private 5G, NTT will provide network infrastructure design, deployment, run operations, use case development, device sourcing, compatibility, and end-to-end testing.About CiscoCisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco.Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.About NTT Ltd.As part of NTT DATA, a USD 30 billion IT services provider, NTT Ltd. is a leading IT infrastructure and services company serving 65% of the Fortune Global 500 and more than 75% of the Fortune Global 100. We lay the foundation for organizations' edge-to-cloud networking ecosystem, simplify the complexity of their workloads across multicloud environments, and innovate at the edge of their IT environments where networks, cloud and applications converge. We offer tailored infrastructure and ensure consistent best practices in design and operations across all of our secure, scalable and customizable data centers. On the journey towards a software-defined future, we support organizations with our platform-delivered infrastructure services. We enable a connected future.Contact:Email: Lori.bosio@global.ntt(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CSCO/2023.02.27/Cisco works with Mercedes-Benz to create mobile office.txt b/news/CSCO/2023.02.27/Cisco works with Mercedes-Benz to create mobile office.txt new file mode 100644 index 0000000000000000000000000000000000000000..894c75d5a1faec7c840f8c12c44b18d0269e92ff --- /dev/null +++ b/news/CSCO/2023.02.27/Cisco works with Mercedes-Benz to create mobile office.txt @@ -0,0 +1 @@ +The 2024 Mercedes-Benz E Class will be equipped with Wi-Fi and a cellular data connection, meaning drivers can download the Webex application to appear directly on the touchscreen of the vehicle's infotainment system without needing a mobile phone.As a safety precaution, the users can only use audio when the vehicle is moving, but can use all features when it is parked, including video meetings, automatic transcription, content-sharing, and reactions.Working from home as a result of the pandemic provided a boost to video-conferencing platforms, such as Webex, Zoom and Microsoft's Teams, but the growth has slowed since the lifting of lockdowns and the companies are seeking opportunities to expand.Zoom has tied up with Tesla to equip its vehicles with conferencing tools and Cisco plans to announce other partnerships at the MWC telecoms conference in Barcelona this week.They include one with Samsung for Webex integration in its flagship phones and another with Intel for private 5G. (Reporting by Supantha Mukherjee in Barcelona; editing by Barbara Lewis)By Supantha Mukherjee \ No newline at end of file diff --git a/news/CSCO/2023.02.27/Mercedes-Benz AG Partners with Cisco to Drive Hybrid Work Innovation in Automotive.txt b/news/CSCO/2023.02.27/Mercedes-Benz AG Partners with Cisco to Drive Hybrid Work Innovation in Automotive.txt new file mode 100644 index 0000000000000000000000000000000000000000..993741d3bd14b53372bbf997a21a7f8ea37d05df --- /dev/null +++ b/news/CSCO/2023.02.27/Mercedes-Benz AG Partners with Cisco to Drive Hybrid Work Innovation in Automotive.txt @@ -0,0 +1,34 @@ + + +NEWS SUMMARY: +New Mercedes-Benz E Class vehicles will be equipped with Webex Meetings and Calling and utilize Webex AI audio capabilities to enable greater flexibility for the hybrid workforce – while putting safety at the forefront. Drivers benefit from a secure and intuitive collaboration experience with Webex.Partnership reinforces Mercedes-Benz and Cisco's joint commitment to innovation in hybrid work and connected vehicles.BARCELONA, Spain, Feb. 27, 2023 /PRNewswire/ -- Today, at Mobile World Congress, Cisco (NASDAQ: CSCO) announced it is working with Mercedes-Benz to provide an optimal mobile office experience in its new Mercedes-Benz E Class vehicles. In today's era of hybrid work, people expect an exceptional experience regardless of how and where they work – and the car is no exception. This partnership will help people get work done safely, securely, and comfortably in their vehicles, with the modern luxury and intuitive features that Mercedes-Benz and Webex customers are accustomed to. + + + + + + + +Mercedes-Benz is committed to innovating its vehicles for the modern, digital era; and partnering with Cisco was a natural fit given the company's leadership in secure, intuitive collaboration with Webex. The future of transportation is here now – and this partnership marks a momentous step forward with in-vehicle innovation and experiences. +Mercedes-Benz and Cisco are jointly addressing the needs of the ever-evolving hybrid workforce. The partnership makes it possible for an architect in the parking lot of a job site to collaborate with their team back at the firm, for example, or take a meeting between visiting a client and picking up the kids from after school care. +Together, the companies are transforming the car into a home office. +"Hybrid work is centered on the work you do, not where you do it – whether it's in the office, home, car, or anywhere in between," said Jeetu Patel, Executive Vice President & General Manager, Security & Collaboration, Cisco. "The mobile office cannot progress without the reliable and secure collaboration technology that only Cisco can provide. This partnership with Mercedes-Benz, a leader in automotive luxury, marks a big step forward in delivering the flexibility that the hybrid workforce demands." +Enabling Frictionless Meetings and CallsDrivers will be able to conduct frictionless meetings and calls with Meetings and enterprise grade calling with Webex. These features are all part of the Webex Suite, which provides the continuous, secure, and reliable connectivity that Cisco is known for. Webex's proprietary audio intelligence technology offers best-in-class noise cancelation, enhancing the experience for the driver and any passengers working in the vehicle. Webex's technology makes it easier to hear and be heard by singling out and boosting the clarity of an individual's voice while eliminating distracting background noises, such as road noise and, at times, co-passengers talking, that come with the flexibility of conducting meetings and calls from the vehicle. +Safety-Centric ApproachCore to this announcement is safety: when the vehicle is moving, meetings and calls will use audio-only. When parked, users can harness Webex's full immersive collaboration experience in their E Class, including video meetings, automatic AI-powered transcription, content sharing, and reactions (such as a thumbs up or celebration emoji). +AvailabilityThe interior of the 2024 Mercedes-Benz E Class was previewed on February 22, 2023. The new vehicle will be equipped with Wi-Fi and cellular data connection, among many other things. Using either connection, drivers can download the Webex App from the Mercedes Benz Car App Store to appear directly on the touchscreen of the vehicle's infotainment system, eliminating the dependency on phone. This offering will be available globally in the new Mercedes-Benz E Class vehicles, which are expected to arrive at dealerships this spring. +Cisco works with over 32,000 transportation organizations in 169 countries worldwide and has 25,000 patents in the transportation space. This partnership with Mercedes-Benz is part of Webex for Automobiles (blog here), including Webex Meetings for Apple CarPlay and its collaboration with Ford Motor Company. +About Mercedes-BenzMercedes-Benz Group AG, headquartered in Stuttgart-Untertürkheim, is responsible for the distribution, marketing and customer service for all Mercedes-Benz products in the United States. MBUSA offers drivers the most diverse lineup in the luxury segment with 15 model lines ranging from the sporty GLA SUV to the flagship S-Class and the Mercedes-AMG GT Black Series. MBUSA is also responsible for Mercedes-Benz Vans in the U.S. More information on MBUSA and its products can be found at www.mbusa.com and www.mbvans.com.  +About Cisco  Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco.  +Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.  +About Webex by Cisco  Webex is a leading provider of cloud-based collaboration solutions which includes video meetings, calling, messaging, events, polling, asynchronous video and customer experience solutions like contact center and purpose-built collaboration devices. Webex's focus on delivering inclusive collaboration experiences fuels our innovation, which leverages AI and Machine Learning, to remove the barriers of geography, language, personality and familiarity with technology. Its solutions are underpinned with security and privacy by design. Webex works with the world's leading business and productivity apps – delivered through a single application and interface. Learn more at webex.com.  + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/mercedes-benz-ag-partners-with-cisco-to-drive-hybrid-work-innovation-in-automotive-301756173.html +SOURCE Cisco Systems, Inc. + + diff --git a/news/CSGP/2023.01.09/Str : U.S. hotel results for week ending 31 December.txt b/news/CSGP/2023.01.09/Str : U.S. hotel results for week ending 31 December.txt new file mode 100644 index 0000000000000000000000000000000000000000..cec8b8c205f82bd34d4cd4ded5583dd8d70c066c --- /dev/null +++ b/news/CSGP/2023.01.09/Str : U.S. hotel results for week ending 31 December.txt @@ -0,0 +1 @@ +HENDERSONVILLE, Tennessee - U.S. hotel performance came in higher than the previous week and showed improved comparisons to 2019 on the favorable side of a holiday calendar shift, according to STR's latest data through 31 December.25-31 December 2022 (percentage change from comparable week in 2019*):Occupancy: 54.2% (+10.4%)Average daily rate (ADR): US$167.21 (+21.7%)Revenue per available room (RevPAR): US$90.63 (+34.3%)The comparable week three years ago covered 29 December-4 January.Source: STRSource: STRSource: STRAmong the Top 25 Markets, Norfolk/Virginia Beach reported the highest occupancy increase over 2019 (+22.9% to 48.5%).Phoenix posted the highest ADR lift over 2019 (+53.5% to US$174.33).None of the Top 25 Markets reported an ADR decline.San Francisco (-9.3% US$92.78) and Los Angeles (-4.2% to US$127.74) saw the only RevPAR declines from 2019.*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.Additional Performance DataSTR's world-leading hotel performance sample comprises 75,000 properties and 10 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.About STRSTR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.Haley LutherCommunications Manager+1 (216) 278 0627(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CSGP/2023.01.10/Apartments.com Releases Q4 2022 Growth Report.txt b/news/CSGP/2023.01.10/Apartments.com Releases Q4 2022 Growth Report.txt new file mode 100644 index 0000000000000000000000000000000000000000..24f076be4909724236a662de802c418d5a81d377 --- /dev/null +++ b/news/CSGP/2023.01.10/Apartments.com Releases Q4 2022 Growth Report.txt @@ -0,0 +1,39 @@ + +Today, Apartments.com – a CoStar Group company – published an in-depth report of multifamily rent growth trends for Q4 2022 backed by analyst observations. Across the board, multifamily fundamentals continued to deteriorate throughout the fourth quarter with limited absorption, significant imbalances between supply and demand and ongoing economic uncertainty. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230110005347/en/Absorption, Quarter Over Quarter (Graphic: Business Wire) +“We ended the year with absorption barely remaining positive and vacancy rates trending upwards,” said Jay Lybik, National Director of Multifamily Analytics at CoStar Group. “As 2022 progressed, economic uncertainty suppressed household formations which limited multifamily demand. Consumer confidence started off weak early on with high inflation and the war in Europe, only to be continued by the Fed’s interest rate hikes and impending recession fears. With 2023’s national forecast predicting the highest new supply totals since the 1980s, expect vacancy to rise above 7% and rent growth to push much lower.” + +ABSORPTION COMPARED TO DELIVERIES HIGHLIGHTS SIGNIFICANT IMBALANCE + +Multifamily conditions continued their stark reversal of fortune in Q4 2022. Limited absorption in the face of 96,000 newly delivered units drove up the vacancy rate from 5.7% at the end of the third quarter to 6.2% on the last day of December 2022. Additionally, the remarkable imbalance between supply and demand pushed the national year over year asking rent growth down to 3.7%, or 740 basis points lower than 12 months prior. + +Full year absorption totaled 169,000 units compared to 431,000 deliveries, highlighting the significant imbalance felt industry-wide. While 2022 was expected to come in lower than 2021’s record breaking absorption at 700,000 units, the lackluster demand weakened in each proceeding quarter throughout the year, resulting in half of the initial projection. + +40 LARGEST MARKETS SEE RENT GROWTH RETREAT, PALM BEACH LEADS THE PACK + +The effects of new supply outstripping demand are best illustrated in the dramatic pullback of rents across the majority of the nation’s 40 largest markets. Over the past four quarters, all 40 markets have witnessed rents retreating, despite 38 of them remaining positive for the year. Palm Beach sits at the helm, with year over year rent growth declining by 29 percentage points from 30.4% a year ago to just 1.7% at the end of 2022. Phoenix and Las Vegas saw rent growth peak above 20% in 2021, yet closed out the year in the red. + +MIDWEST, GATEWAY MARKETS POST HIGHEST RENT GROWTH + +Indianapolis finished the year with the highest year over year rent growth in the nation, coming in at 7.4%. Other Midwest markets rounded out 2022 near the top of the rent growth chart, including Cincinnati, St. Louis and Columbus, representing a remarkable change from a year ago when the top 10 was littered with Sun Belt locations that are now posting the weakest rent growth. + +RENTS EXPECTED TO CONTINUE DOWNWARD TREND INTO 2023 + +As we head into 2023, the rent growth situation is not positioned for drastic improvement. Looking at rents quarter over quarter, we expect to see rents declining across the majority of markets. And unfortunately, this is not the typical seasonal effect of rents softening in the fourth quarter. Instead, rent deceleration began in June, during what should have been the peak leasing season. The accelerating rent decreases are a direct result of weak demand across the nation. + +The reversal in multifamily performance over the past four quarters has been swift and unprecedented, especially considering the economy is not yet in a recession. The fast-growing Sun Belt markets of 2021 entered a perfect storm in 2022, as demand throttled back while deliveries accelerated. With recession fears looming, 2023 has the potential to create even more distress for Sun Belt property operations with deliveries in many markets projected to reach record levels. Northeast and Midwest markets with minimal supply additions this year are best positioned to remain closest to equilibrium. + +About CoStar Group, Inc. + +CoStar Group, Inc. (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information and analytics. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Homesnap is an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. Homes.com offers real estate professionals advertising and marketing services for residential properties. Realla is the UK’s most comprehensive commercial property digital marketplace. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. CoStar Group’s websites attract tens of millions of unique monthly visitors. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada and Asia. From time to time, we plan to utilize our corporate website, http://www.costargroup.com, as a channel of distribution for material company information. For more information, visit www.costargroup.com. + +About Apartments.com + +Apartments.com is the leading online apartment listing website, offering renters access to information on more than 1,000,000 available units for rent. Powered by CoStar, the Apartments.com network of sites includes Apartments.com, ApartmentFinder.com, ApartmentHomeLiving.com, Apartamentos.com, WestsideRentals.com, ForRent.com, ForRentUniversity.com, After55.com and CorporateHousing.com. + +Apartments.com is supported by the industry's largest professional research team, which has visited and photographed over 500,000 properties nationwide. The team makes over one million calls each month to apartment owners and property managers, collecting and verifying current availabilities, rental rates, pet policies, fees, leasing incentives, concessions, and more. Apartments.com offers more rental listings than any other apartments website, and innovative features including a drawing tool that allows users to define their own search areas on a map, and a "Travel Time" feature that lets users search for rentals in proximity to a specific address. Apartments.com creates easy access to its listings through a responsive website and iOS and Android apps, and provides unmatched exposure for its advertisers through an intuitive name, strategic search engine placements and innovative emerging media. + +The Apartments.com network reaches millions of renters nationwide, driving both qualified traffic and highly engaged renters to leasing offices. + +This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations or beliefs regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that rent growth changes are not as expected, or do not occur at the pace expected; and the risk that multifamily vacancy rates are not as expected. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar’s filings from time to time with the Securities and Exchange Commission, including in CoStar’s Annual Report on Form 10-K for the year ended December 31, 2021, and Quarterly Reports on Form 10-Q for the quarters ending March 31, 2022, June 30, 2022, and September 30, 2022, each of which is filed with the SEC, including in the “Risk Factors” section of that filing, as well as CoStar’s other filings with the SEC available at the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230110005347/en/ \ No newline at end of file diff --git a/news/CSGP/2023.01.10/CoStar Group CEO and Founder Andy Florance Named as Top Ten on SP200 Real Estate's Most...txt b/news/CSGP/2023.01.10/CoStar Group CEO and Founder Andy Florance Named as Top Ten on SP200 Real Estate's Most...txt new file mode 100644 index 0000000000000000000000000000000000000000..9d5720f76c583983600be6e253128e6a79b7dadc --- /dev/null +++ b/news/CSGP/2023.01.10/CoStar Group CEO and Founder Andy Florance Named as Top Ten on SP200 Real Estate's Most...txt @@ -0,0 +1,29 @@ + +The Swanepoel Power 200 (SP 200), the definitive ranking of the residential real estate brokerage industry’s executives and leaders, has named Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQ: CSGP), as one of the nation’s ten most powerful and influential people in real estate for 2023. + +Andy ranked ninth on the list and is joined by a second member of CoStar Group’s leadership team, David Mele, President of Homes.com, who ranked 128th on the list. + +The annual report published today, marking its 10th year as the industry’s most respected analysis of the scope, reach and leadership of the industry's executives running the nation’s largest companies. + +The recognition of Andy Florance on the SP 200 list comes on the heels of a banner year for the company. Founded in 1986, CoStar Group has grown to over 5,600 employees in 14 countries and fulfills Florance’s vision to digitize the real estate industry, empowering people to discover properties, insights, and connections that improve their businesses and lives. In 2022, CoStar Group was added to the S&P 500 Index, one of the premier benchmarks of the U.S. equities market, and the company was also included in the NASDAQ 100, one of the world’s largest preeminent large-cap indexes. + +“It's an honor to be ranked as one of the top ten real estate business leaders and to have David Mele recognized for his leadership,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group. “This award reflects our continued commitment to providing the most in-depth and powerful real estate tools through the incredible efforts of our whole CoStar Group team. We’re looking forward to continuing to drive innovation within the real estate industry.” + +Andy is joined on the Swanepoel Power 200 list by a wide range of top executives, including Gino Blefari, president and CEO of HomeServices of America; Gary Keller, the founder and executive chairman of kwx; Glenn Sanford, the founder and CEO of eXp World Holdings; and Ryan Schneider, CEO and president, Anywhere Real Estate among others. + +“These exceptional leaders have a few things in common: a keen eye for hiring talent and a diligent focus on sustainable growth,” said Stefan Swanepoel, executive chairman of T3 Sixty. + +“Talented leaders,” said Jack Miller, CEO of T3 Sixty, “are executives who can continue to right the ship even in untested waters, and the industry’s top-ranked leaders have in the last year proven that they have earned their place at the helm.” + +About CoStar Group, Inc. + +CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Homesnap is an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. Homes.com offers real estate professionals advertising and marketing services for residential properties. Realla is the UK’s most comprehensive commercial property digital marketplace. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. CoStar Group’s websites attract tens of millions of unique monthly visitors. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. + +About the SP 200 + +The SP 200 (Swanepoel Power 200), the first section of the annual Real Estate Almanac, ranks the nation’s 200 most powerful residential real estate brokerage leaders every year based on a variety of factors, including size of the company they lead, personal leadership and influence within the industry, track record and resources at their disposal and recent initiatives. First published in 2014, the 2023 SP 200 can be viewed online at sp200.com. + +About T3 Sixty + +T3 Sixty is the leading management consultancy in the residential real estate industry with business units in brokerage, technology, mergers and acquisitions, and organized real estate. The group also provides software and data, extensive research and reports, executive search and event management services. For more information, visit t360.com. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230110006011/en/ \ No newline at end of file diff --git a/news/CSGP/2023.01.12/Costar : Founder and CEO Andy Florance Named an Inman 2023 Power Player.txt b/news/CSGP/2023.01.12/Costar : Founder and CEO Andy Florance Named an Inman 2023 Power Player.txt new file mode 100644 index 0000000000000000000000000000000000000000..b4bbee49d780c5400be83c67e8cb8651f2a871ff --- /dev/null +++ b/news/CSGP/2023.01.12/Costar : Founder and CEO Andy Florance Named an Inman 2023 Power Player.txt @@ -0,0 +1,76 @@ + + + + Jan 12, 2023 + + + The inaugural index highlights the most influential professionals in the residential real estate industry + + + WASHINGTON, D.C. - JANUARY 12, 2023 - Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQ: CGSP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, today was honored as one of Inman's Inaugural 2023 Power Players. + + + The index, published this year for the first time, recognizes the most influential figures across residential real estate - individuals that represent the pinnacle of industry success. Inman's 2023 Power Players include executives, founders, innovators, and visionaries, each of whom play a key role in shaping the residential industry's future. + + + The recognition of Andy Florance as a 2023 Power Player comes on the heels of a banner year for the company. Founded in 1986, CoStar Group has grown to over 5,600 employees in 14 countries and was recently added to the S&P 500 Index, one of the premier benchmarks of the U.S. equities market, and was also included in the NASDAQ 100, one of the world's largest preeminent large-cap indexes. + + + "Inman has long been recognized as a premier news source for the industry and it's an honor to be named on their inaugural Power Players list," said Andy Florance, Founder and Chief Executive Officer of CoStar Group. "As the real estate industry continues to evolve, we are committed to creating best-in-class products and tools for agents and for all of our clients. This award is a direct reflection of our mission to digitize the world's real estate, empowering people to discover properties, insights, and connections that improve their businesses and lives." + + + Inman's 2023 Power Players were adapted from the publication's previous Inman 100 and Inman Influentials lists, but now represent a more accurate analysis of the real estate industry at-large. The list recognizes 121 trailblazers from residential real estate, mortgage, finance and technology, and kicks off a year of new and expanded awards for the publication. + + + News Media Contact: + + + Matthew Blocher + Vice President + CoStar Group Corporate Marketing & Communications + (202) 346-6775 + mblocher@costargroup.com + + + # # # + + + About CoStar Group, Inc. + + + CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Homesnap is an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. Homes.com offers real estate professionals advertising and marketing services for residential properties. Realla is the UK's most comprehensive commercial property digital marketplace. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. CoStar Group's websites attract tens of millions of unique monthly visitors. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time we plan to utilize our corporate website, www.costargroup.com, as a channel of distribution for material company information. + + + About Inman Awards + + +Inman Awards recognizes outstanding accomplishments across the residential real estate industry with six distinctive categories. Each award shines a spotlight on the most deserving companies and individuals in the real estate industry, as well as in specialties including mortgage and finance, marketing, and proptech. + + + About Inman + + +Inman is the leading news source for real estate agents, brokers, executives and technology leaders who gain useful advice on the industry's top stories, trends and developments that help them grow their businesses and stay ahead of the competition. With an audience of over one million professionals, Inman's pages and stages are where the industry goes to find the most innovative ideas and new business models, through our website, newsletters, events, awards, education, and subscriptions. + + + Follow Inman on Facebook, Twitter, Instagram and LinkedIn. + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +CoStar Group Inc. published this content on 12 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 January 2023 14:09:04 UTC. + + diff --git a/news/CSGP/2023.01.16/Baird|STR Hotel Stock Index dropped 10% in December, ended year down 15%.txt b/news/CSGP/2023.01.16/Baird|STR Hotel Stock Index dropped 10% in December, ended year down 15%.txt new file mode 100644 index 0000000000000000000000000000000000000000..bd28a26f6d8f11d7738ef5a1f085b391c95cf77b --- /dev/null +++ b/news/CSGP/2023.01.16/Baird|STR Hotel Stock Index dropped 10% in December, ended year down 15%.txt @@ -0,0 +1 @@ +HENDERSONVILLE, Tennessee, and MILWAUKEE - The Baird/STR Hotel Stock Index dropped 10% in December to a level of 4,885. For 2022 as a whole, the stock index was down 15%.Hotel stocks ended a relatively strong year on a weak note as recessionary fears and slowing growth concerns were front and center for investors in December, which caused hotel stocks to underperform during the month. Pebblebrook's negative fourth-quarter preliminary earnings announcement caused the hotel REITs to tag in December and reinforced investors' negative sentiment towards the sub-sector. In 2022, the global hotel brands outperformed the S&P 500 by more than 500bps; the hotel REITs outperformed the RMZ by more than 1,000 bps, which was the first year of relative outperformance since 2017. For the year, the global hotel brands topped the hotel REITs by approximately 280 bps.Michael Bellisario, senior hotel research analyst and director at BairdWhile the future weighed heavily on investor sentiment, U.S. hotel performance completed the year in solid position. Room demand in the final month of 2022 was the highest for any December before it - even 2019, the previous record holder. When looking at the full year, demand came in slightly below 2019 levels, and most of that deficit was seen during Q1 when omicron was at its peak. Nominal RevPAR finished the year above the pre-pandemic comparable, and we remain confident that the metric will continue to grow despite the looming recession. Inflation-adjusted RevPAR, however, remained 6% behind the 2019 benchmark, which is considerably better than what was seen three years after the Great Recession.Amanda Hite, STR's presidentIn December, the Baird/STR Hotel Stock Index fell behind both the S&P 500 (-5.9%) and the MSCI US REIT Index (-5.8%).The Hotel Brand sub-index decreased 9.2% from November to 8,904, while the Hotel REIT sub-index fell 12.8% to 1,038.Source: STRSource: STRSource: STRAbout the Baird/STR Hotel Stock Index and Sub-IndicesThe Baird/STR Hotel Stock Index was set to equal 1,000 on 1 January 2000. Last cycle, the Index peaked at 3,178 on 5 July 2007. The Index's low point occurred on 6 March 2009 when it dropped to 573.The Hotel Brand sub-index was set to equal 1,000 on 1 January 2000. Last cycle, the sub-index peaked at 3,407 on 5 July 2007. The sub-index's low point occurred on 6 March 2009 when it dropped to 722.The Hotel REIT sub-index was set to equal 1,000 on 1 January 2000. Last cycle, the sub-index peaked at 2,555 on 2 February 2007. The sub-index's low point occurred on 5 March 2009 when it dropped to 298.The Baird/STR Hotel Stock Index and sub-indices are available exclusively on Hotel News Now. The indices are cobranded and were created by Robert W. Baird & Co. (Baird) and STR. The market-cap-weighted, price-only indices comprise 20 of the largest market-capitalization hotel companies publicly traded on a U.S. exchange and attempt to characterize the performance of hotel stocks. The Index and sub-indices are maintained by Baird and hosted on Hotel News Now, are not actively managed, and no direct investment can be made in them.As of 31 December 2022, the companies that comprised the Baird/STR Hotel Stock Index included: Apple Hospitality REIT, Ashford Hospitality Trust, Chatham Lodging Trust, Choice Hotels International, DiamondRock Hospitality Company, Hersha Hospitality Trust, Hilton Inc., Host Hotels & Resorts, Hyatt Hotels, InterContinental Hotels Group, Marriott International, Park Hotels & Resorts, Inc., Pebblebrook Hotel Trust, RLJ Lodging Trust, Ryman Hospitality Properties, Service Properties Trust, Summit Hotel Properties, Sunstone Hotel Investors, Wyndham Hotels & Resorts, and Xenia Hotels & Resorts.This communication is not a call to action to engage in a securities transaction and has not been individually tailored to a specific client or targeted group of clients. Research reports on the companies identified in this communication are provided by Robert W. Baird & Co. Incorporated, and are available to clients through their Baird Financial Advisor. This communication does not provide recipients with information or advice that is sufficient on which to base an investment decision. This communication does not take into account the specific investment objectives, financial situation or need of any particular client and may not be suitable for all types of investors. Recipients should consider the contents of this communication as a single factor in making an investment decision. Additional fundamental and other analyses would be required to make an investment decision about any individual security identified in this release.About BairdPutting clients first since 1919, Baird is an employee-owned, international wealth management, asset management, investment banking/capital markets, and private equity firm with offices in the United States, Europe and Asia. Baird has approximately 4,600 associates serving the needs of individual, corporate, institutional and municipal clients and more than $415 billion in client assets as of Dec. 31, 2021. Committed to being a great workplace, Baird ranked No. 27 on the 2022 Fortune 100 Best Companies to Work For list - its 19th consecutive year on the list. Baird is the marketing name of Baird Financial Group. Baird's principal operating subsidiaries are Robert W. Baird & Co. Incorporated and Baird Trust Company in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird's investment banking and private equity operations. For more information, please visit Baird's website at www.rwbaird.com.About STRSTR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.Haley LutherCommunications Manager+1 (216) 278 0627(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CSGP/2023.01.18/Str - Countries Included In This Wee : U.S., Japan, China, Barbados, Aruba, Cayman Islands...txt b/news/CSGP/2023.01.18/Str - Countries Included In This Wee : U.S., Japan, China, Barbados, Aruba, Cayman Islands...txt new file mode 100644 index 0000000000000000000000000000000000000000..84e2d233496167e3ded4c8b951fad7888886e6e1 --- /dev/null +++ b/news/CSGP/2023.01.18/Str - Countries Included In This Wee : U.S., Japan, China, Barbados, Aruba, Cayman Islands...txt @@ -0,0 +1 @@ +STR - U.S. hotel occupancy started the year at 47.2%, up 1.8 percentage points (ppts) from last year but down considerably from 2019 due to a holiday calendar shift. The comparable week of 2019 (6-12 January) was a complete non-holiday week versus. Nominal average daily rate (ADR) increased 17.2% year over year (YoY) to US$143. Nominal revenue per available room (RevPAR) was up 21.8% YoY to US$67.At a market-level, the Florida Keys posted the highest occupancy level at 86%. Among the Top 25 Markets, Las Vegas saw the highest occupancy (73.5%) followed by Oahu (72.5%) and Orlando (71.3%). New York City saw weekly occupancy increase 20ppts YoY to 65.6%. All but six of the Top 25 Markets saw higher weekly occupancy than a year ago. Of those six, Detroit, Dallas and Denver posted declines greater than a point.Most U.S. markets (62%) saw occupancy increase over the comparable weekend in 2022. The nation's highest weekend occupancy was seen in the Florida Keys (82.6%) and Hawaii/Kauai (80.3%). Las Vegas also had a healthy weekend (79.8%) due to higher-than-expected attendance at this year's Consumer Electronics Show (5-8 January).The Las Vegas Strip submarket (88.8%) posted the highest weekend occupancy of the any U.S. submarket. Overall, 58% of all U.S. submarkets saw weekend occupancy advance year over year. This was the first week with Las Vegas performance data included in STR's reporting thanks to the rollout of new non-participant modeling in the U.S.While real weekly ADR was below 2019, real weekend ADR was far higher among the Top 25 Markets and all others. Outside of the weekend, real ADR was 16% less than the 2019 benchmark among the Top 25 Markets with Monday and Tuesday down an average of 27%. The remaining markets had a real ADR deficit to 2019 of only 2.5% from Sunday to Thursday.Real RevPAR for the week was down 16% compared to the comparable week of 2019 with the largest deficits in non-weekend days and among the Top 25 markets. Like ADR, the measure was above 2019 on the weekendGlobal performanceExcluding the U.S, global hotel occupancy increased 10.2ppts YoY to 51.7%. This was 9.1 ppts behind the comparable week in 2019. Nominal ADR grew 30.7% YoY to US$155, which was the second highest level of the pandemic-era behind the last week of 2022. Nominal RevPAR was up 62.7% YoY to US$80. Both real ADR and real RevPAR were above the comparable week in 2019.The top 10 largest countries, based on hotel rooms, saw collective occupancy increase by 8ppts YoY with most seeing growth above 10ppts. From that group, Japan had the highest occupancy of the week (62.3%) with Germany (39.3%) at the low end. That sub-40% occupancy level in Germany still represented a 14.5ppt improvement from the same time last year, which was affected by Omicron.Occupancy in China was flat compared with last year as most markets saw slight decreases despite the relaxation of travel restrictions.The Caribbean saw the highest occupancy of any subcontinent (68.4%), sitting 3.4 percentage points behind 2019 levels. This boost was supported by leisure travel in destinations such as Barbados (86.6%), Aruba (78.3%) and Cayman Islands (75.5%).At the other end, Western Europe saw the lowest occupancy at 44.6%, down 11.9 percentage points on the previous week. In addition to Germany, Luxembourg and Monaco saw occupancy levels below 40% for the period. ADR in Western Europe fell 18.7% week over week, which was expected due to New Year's Eve being included in the data for the previous week.Final thoughtsThe industry started the year on the right footing, growing all performance measures versus a year ago despite New Year's Day falling on Sunday, and thus, affecting Monday. While the comparison to 2019 was unfavorable, the comparison itself was not very useful this week given the shift in the calendar. In this week's data, we compared a holiday week versus a full business week in 2019. Hence, the unfavourability.Looking aheadExpect to see strong year-over-year growth in most regions given the comparison to last year's Omicron weakness as well as restrictions easing more and more in Asia. Once we get past Q1, 2019 indices will take a backseat to year-over-year comps will finally be standard once again for most countries. Of course, the Western Hemisphere remains on 'recession watch,' with severity and timelines differing by country.About STRSTR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CSGP/2023.01.19/Str : U.S. hotel construction up year over year for first time since late 2020.txt b/news/CSGP/2023.01.19/Str : U.S. hotel construction up year over year for first time since late 2020.txt new file mode 100644 index 0000000000000000000000000000000000000000..e429e8caa7c03fdf3dc19b32c5a468d23b204cef --- /dev/null +++ b/news/CSGP/2023.01.19/Str : U.S. hotel construction up year over year for first time since late 2020.txt @@ -0,0 +1 @@ +After 25 consecutive months of year-over-year declines, U.S. hotel construction increased slightly in December, according to pipeline data from STR.At a market-level, New York City, Phoenix and Dallas are set to see the largest supply percentage increases from current construction. Among the chain scales, the Luxury and Upscale segments lead in that measurement.U.S. Hotel PipelineDecember 2022 (percentage change in comparison with December 2021):In Construction: 159,344 rooms (+0.3%)Final Planning: 213,066 rooms (+15.0%)Planning: 240,092 rooms (-15.6%)'While the overall pipeline continued to contract year over year, December showed strength in the later phases of development,' said Alison Hoyt, STR's senior director of consulting. 'Over the past year, we've seen late-stage pipeline rooms consistently decline from 2021 levels, while rooms in the planning phase often showed double-digit growth. We started to see a change in this pattern in November, when final planning rooms significantly jumped year over year and planning rooms came down pretty firmly. The same occurred in December, with the only difference being construction increasing slightly over 2021. When looking strictly at volume, the in-construction phase has been fairly stable throughout the year, remaining under 160,000 rooms and showing month-over-month increases from July through October and again in December.'STR: U.S. hotel construction up year over year for first time since late 2020 - Photo by STRSTR: U.S. hotel construction up year over year for first time since late 2020 - Photo by STRSTR: U.S. hotel construction up year over year for first time since late 2020 - Photo by STRWhen looking at the in-construction phase of the pipeline, luxury chains show the highest number of rooms as a percentage of existing supply.'Given the pricing power luxury chains have had over the past three years, it is no surprise the segments remain at the forefront in terms of projected growth,' said Hoyt. 'The chain's rapid room rate recovery and growth between 2020 and 2022 has led developers to push into the segment.'NYC leads the major markets in rooms in construction as a percentage of existing supply.'Markets experiencing the highest number of luxury rooms in construction are those that performed well during COVID and/or are strong leisure destinations, with Fort Worth/Arlington, Texas; and New York City leading the list. While NYC also has the most rooms in construction as a percentage of existing supply, the market will likely see a slowdown after ongoing projects are built due to new development restrictions in place. Nashville is also showing signs of a slowdown, so we could expect a shuffle in the top pipeline markets later in 2023.'About STRSTR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CSGP/2023.01.23/CoStar reveals LED signage in California office.txt b/news/CSGP/2023.01.23/CoStar reveals LED signage in California office.txt new file mode 100644 index 0000000000000000000000000000000000000000..5abd395151681c3e5bbe4636072c6cee7ffd0e40 --- /dev/null +++ b/news/CSGP/2023.01.23/CoStar reveals LED signage in California office.txt @@ -0,0 +1 @@ +CoStar Group, an online real estate marketplace firm that conducts online auctions and negotiated bids, has revealed a digital renovation project including 17 LED screens at its Irvine, California office, according to a press release.SNA Displays used models from its trademarked Brilliant Interior line of LED displays. The lobby installation includes 10 1.2mm staggered-height LEDs. The two auction floor control rooms feature a pair of three-sided 1.2mm LED video walls for live auction monitoring, with a 0.9mm 4K UDH LED wall between the two auction floors."The backend for the LED display systems at the CoStar Irvine office includes SNA Displays equipment, Analog Way processing, and ~sedna playback technology," the company said in the release, leveraging the ~sedna Creator CMS software and three ~sedna 8K Media Engine media servers."The requirement was to drive two enormous 2,160 x 12,960 LED walls independently, as well as a center UHD LED wall," Seth Teates, senior regional sales manager at Analog Way, explained in the release. "Each screen needed a full-resolution native background layer and up to eight 4K layers on-screen at once. The mission-critical, reliable processing of the Aquilon C+ processor was ideal for this scenario, and masterfully installed by SNA Displays' engineering team.""Analog Way's processors and ~sedna's playback technology works in perfect unison with SNA Displays' onsite diagnostics, providing full operational overview of all systems deployed," Pat Green, vice president of systems at SNA Displays, said in the release. "These partners have demonstrated through years of engineering and success stories to be the best suited for this command-and-control environment, ensuring 100% uptime during operation."A video overview of the project is available below.Copyright © 2023 Networld Media. All rights reserved., source Industry News \ No newline at end of file diff --git a/news/CSGP/2023.01.24/Costar : to Report Financial Results for Fourth Quarter and Full Year 2022 on February 21,...txt b/news/CSGP/2023.01.24/Costar : to Report Financial Results for Fourth Quarter and Full Year 2022 on February 21,...txt new file mode 100644 index 0000000000000000000000000000000000000000..03dca7a581e8f552aed2169268980e6c9aa0a576 --- /dev/null +++ b/news/CSGP/2023.01.24/Costar : to Report Financial Results for Fourth Quarter and Full Year 2022 on February 21,...txt @@ -0,0 +1,65 @@ + + + + Jan 24, 2023 + + + WASHINGTON - January 24, 2023 -- CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for the fourth quarter and full year 2022 following the market close on Tuesday, February 21, 2023. Management will conduct a conference call to discuss the fourth quarter and full year results, as well as the Company's outlook at 5:00 PM EST that same day. + + + A live audio webcast of the conference will be available in listen-only mode through the Investors section of the CoStar Group website: https://investors.costargroup.com. A replay of the webcast audio will also be available in the Investors section of our website for a period of time following the call. + + + As detailed in the Events Calendar section of the CoStar Group website, the Company expects to announce first quarter 2023 financial results on Tuesday, April 25, 2023. Any changes to that date will appear in the Events Calendar on the CoStar Group website. + + + Investor Relations: + + + Cyndi Eakin + Senior Vice President + CoStar Group Investor Relations + (202) 346-6784 + ceakin@costar.com + + + News Media Contact: + + + Matthew Blocher + Vice President + CoStar Group Corporate Marketing & Communications + (202) 346-6775 + mblocher@costargroup.com + + + # # # + + + About CoStar Group, Inc. + + + CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Homesnap is an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. Homes.com offers real estate professionals advertising and marketing services for residential properties. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. CoStar Group's websites attract tens of millions of unique monthly visitors. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time we plan to utilize our corporate website, www.costargroup.com, as a channel of distribution for material company information. + + +This news release and the Company's earnings conference call and audio replay contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about CoStar Group's plans, objectives, expectations, beliefs and intentions and other statements including words such as "hope," "anticipate," "may," "believe," "expect," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of management of CoStar Group and are subject to many risks and uncertainties. Actual results may differ materially from the results anticipated in the forward-looking statements and the assumptions and estimates used as a basis for the forward-looking statements. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar Group's filings from time to time with the Securities and Exchange Commission, including in CoStar Group's Annual Report on Form 10-K for the year ended December 31, 2021 and Quarterly Reports on Form 10-Q for the quarters ended March 30, 2022, June 30, 2022, and September 30, 2022, each of which are filed with the SEC, including in the "Risk Factors" section of those filings, as well as CoStar Group's other filings with the SEC (including Current Reports on Form 8-K) available at the SEC's website (www.sec.gov). All forward-looking statements are based on information available to CoStar Group on the date hereof, and CoStar Group assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +CoStar Group Inc. published this content on 24 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 22:29:14 UTC. + + diff --git a/news/CSGP/2023.01.24/Murdoch scraps proposal to combine Fox, News Corp.txt b/news/CSGP/2023.01.24/Murdoch scraps proposal to combine Fox, News Corp.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a7adca4187945ff4ea5b6ca0b5928599ec80177 --- /dev/null +++ b/news/CSGP/2023.01.24/Murdoch scraps proposal to combine Fox, News Corp.txt @@ -0,0 +1 @@ +The deal would have reunited the media empire Murdoch split nearly a decade ago.But News Corp said in a statement on Tuesday that the tie-up was: "not optimal for shareholders of News Corp and Fox at this time."According to sources, the merger was pitched as a way to greater scale news, live sports and information.Several people close to the Murdochs viewed the effort as driven by the 91-year-old's succession planning....to consolidate power behind his son and Fox head Lachlan Murdoch.A notion the company described as "absurd" in November.Activist investment firm Irenic Capital, which was among the first to say that the proposed reunion would likely undervalue News Corp, on Tuesday applauded the decision to not move forward.In addition to scrapping the planned merger, News Corp is exploring a sale of Move, the company which operates the property website realtor.com.Three sources familiar with the matter said News Corp was in talks with CoStar to sell its stake for about $3 billion.News Corp agreed to buy Move in 2014 for $950 million to diversify its digital real estate business. \ No newline at end of file diff --git a/news/CSGP/2023.01.24/News Corp in talks to sell its stake in Move Inc -sources.txt b/news/CSGP/2023.01.24/News Corp in talks to sell its stake in Move Inc -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..0caf31af05a7aa745fa739858d374ec9b41ce279 --- /dev/null +++ b/news/CSGP/2023.01.24/News Corp in talks to sell its stake in Move Inc -sources.txt @@ -0,0 +1,7 @@ +Jan 24 (Reuters) - News Corp is in talks to +sell its stake in Move Inc, the parent company of real estate +listing site Realtor.com, to CoStar Group Inc > View the 2022 Cintas ESG Report + +New data and information included in the 2022 report includes: + +“ESG has become a strategic focus for us at Cintas,” said Todd Schneider, Cintas President and CEO. “We have taken a wider, more holistic view of our company. We’ll continue to strategically evaluate every input and output of our business to further identify opportunities for advancement. ESG considerations are helping us drive Cintas forward in every area of our business, and we anticipate we’ll continue to demonstrate increasing value to our customers, our shareholders and our employee-partners. + +“We’ve made impressive progress over the last few years by operating our business with a critical lens and by leveraging our positive discontent to seek and achieve constant improvements. We are proud of our success as we run a highly successful company with a sustainable business model,” Schneider added. + +Highlights outlined in the report include: + +“Our sustainable business model dates back to Doc and Amelia Farmer in the Great Depression and it’s helped us grow our business in a responsible manner for almost 100 years,” said Christy Nageleisen, Vice President of ESG and Chief Compliance Officer. “As we continue our ESG Journey, and especially our Path to Net Zero, we know we have to remain critical about how we run our business and embrace opportunities to think and act bigger and better. + +Schneider continued, “Since we published our last ESG Report, we’ve been incredibly impressed with the curiosity, awareness and passion about our ESG strategy that we’ve witnessed from our employee-partners, customers, suppliers, shareholders and the communities we serve. It truly feels like we’re all working together to achieve a better outcome for all of us.” + +“Cintas has a strong culture of running our business ethically and responsibly, supporting our employee-partners and our communities, and offering sustainable solutions to our customers. Fundamentally, this is how Cintas has operated and grown through the years, so our stakeholders are even more interested to learn how we plan to lead A Shared Drive for Better in the years ahead,” Nageleisen added. + +For more information about Cintas’ ESG activities and its origins in sustainable business, visit cintas.com/esg. + +About Cintas + +Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 Index and Nasdaq-100 Index. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005158/en/ \ No newline at end of file diff --git a/news/CTAS/2023.01.23/Cintas Announces 10th Annual Nationwide Custodian of the Year Contest.txt b/news/CTAS/2023.01.23/Cintas Announces 10th Annual Nationwide Custodian of the Year Contest.txt new file mode 100644 index 0000000000000000000000000000000000000000..d621d7e6f7eca90fa219583c74299f5ee45f4952 --- /dev/null +++ b/news/CTAS/2023.01.23/Cintas Announces 10th Annual Nationwide Custodian of the Year Contest.txt @@ -0,0 +1,29 @@ + +In the past few years, the role of school custodians has never been more important. To honor their hard work and dedication, Cintas Corporation (Nasdaq: CTAS) launches its 10th annual Cintas Custodian of the Year contest, which honors standout school custodians. Submit nominations at custodianoftheyear.com through February 17. + +“Custodians take on a lot of responsibility to help provide a clean and healthy space for students, faculty and staff,” said Christiny Betsch, Marketing Manager, Cintas. “For the last nine years we’ve heard tremendous stories of custodians going above and beyond and look forward to continue honoring custodians in this tenth year of the contest.” + +Cintas will award $10,000 to the winning custodian and $5,000 in Cintas and Rubbermaid products and services to the winner’s school. On top of that, the winner’s school will receive a facility assessment and consulting package from ISSA, The Worldwide Cleaning Industry Association, valued at $30,000 and enrollment in the Global Biorisk Advisory Council (GBAC) Fundamentals Online Course. The nine finalists who round out the Top 10 will receive $1,000 each on behalf of Cintas, a cleaning supply package from Rubbermaid and complimentary tuition to one ISSA Cleaning Management Institute (CMI) virtual training event, valued at $1,500. New this year, the Top 3 finalists will also receive an all-expense-paid trip for two to the ISSA Show North America in Las Vegas in November where they’ll be celebrated for their accomplishments. + +“Despite long hours, custodians continue to show up for their students, faculty and others in their communities,” said John Barrett, Executive Director, ISSA. “ISSA has been in awe of their commitment, and we’re proud to work with Cintas to celebrate the best custodians across the U.S.” + +Last year, Cintas Corporation awarded Lydell Henderson of Presidential Park Elementary School in Middletown, N.Y. as the 2022 Cintas Custodian of the Year. To celebrate Mr. Henderson, over 1,500 students and staff, in addition to his family, honored him with a surprise ceremony, complete with countless handmade signs from students and endless cheering and high-fives. + +The Cintas Custodian of the Year contest is open to all elementary, middle, high school, college and university custodians who have worked at their school for at least two years. Nominations must be 500 words or less on why the nominee is deserving of the award and submitted by February 17. Cintas will announce the top 10 finalists on March 14. The public can vote for their favorite custodian through April 14, and the finalist with the most votes will be crowned Custodian of the Year at the end of April. + +Rubbermaid Commercial Products’ Sr. Vice President Sales and Marketing, Robert Posthauer, added: “Custodians are the ones behind the scenes who ensure school facilities are welcoming learning environments. Without them, schools, universities and colleges wouldn’t be able to function properly. We’re delighted to again partner with Cintas as they celebrate the 10th Custodian of the Year awards to cherish school custodians.” + +For more information about the Cintas Custodian of the Year contest, contact Brianna Fitzpatrick at bfitzpatrick@mulberrymc.com. A Custodian of the Year logo is available via email or Dropbox here. + +About Cintas Corporation: + +Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, restroom supplies, first aid and safety products, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. The company is also the creator of the Total Clean Program™ — a first-of-its-kind service that includes scheduled delivery of essential cleaning supplies, hygienically clean laundering, and sanitizing and disinfecting products and services. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 Index and Nasdaq-100 Index. + +About ISSA: + +With more than 10,500 members – including distributors, manufacturers, manufacturer representatives, wholesalers, building service contractors, in-house service providers, residential cleaners, and associated service members – ISSA is the world’s leading trade association for the cleaning industry. The association is committed to changing the way the world views cleaning by providing its members with the business tools they need to promote cleaning as an investment in human health, the environment, and an improved bottom line. Headquartered in Rosemont, Ill., USA, the association has regional offices in Milan, Italy; Whitby, Canada; Parramatta, Australia; Seoul, South Korea; and Shanghai, China. For more information about ISSA, visit www.issa.com or call 800-225-4772 (North America) or 847-982-0800. + +About Rubbermaid Commercial Products + +Rubbermaid Commercial Products (RCP), headquartered in Huntersville, NC, is a manufacturer of innovative, solution-based products for commercial and institutional markets worldwide. Since 1968, RCP has pioneered technologies and system solutions in the categories of washroom and safety, cleaning, waste handling, material transport, and food services. RCP is part of Newell Brands’ global portfolio of leading brands and continues to develop innovative products. Visit www.rubbermaidcommercial.com to learn more. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005678/en/ \ No newline at end of file diff --git a/news/CTAS/2023.01.25/Cintas Corporation to Participate in Upcoming Investor Conference.txt b/news/CTAS/2023.01.25/Cintas Corporation to Participate in Upcoming Investor Conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..a060e68146e94dc9db6217b42b0dca894ee4ddcb --- /dev/null +++ b/news/CTAS/2023.01.25/Cintas Corporation to Participate in Upcoming Investor Conference.txt @@ -0,0 +1,7 @@ + +Cintas Corporation (Nasdaq: CTAS) announced that its Executive Vice President and Chief Financial Officer, Mike Hansen, and Vice President – Treasurer and Investor Relations, Paul Adler, will participate in the upcoming Barclays Industrial Select Conference in Miami, FL on Wednesday, February 22, 2023. Cintas management will participate in a fireside chat and will be available for one-on-one and small group meetings. To schedule a meeting with management, please contact a Barclays sales representative. + +Cintas + +Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe and looking their best. With offerings including uniforms, mats, mops, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety training, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 Index and Nasdaq-100 Index. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005014/en/ \ No newline at end of file diff --git a/news/CTAS/2023.01.26/National Mentor Month : Mentoring Is Critical to Professional Development at Cintas.txt b/news/CTAS/2023.01.26/National Mentor Month : Mentoring Is Critical to Professional Development at Cintas.txt new file mode 100644 index 0000000000000000000000000000000000000000..a8f985cb5b6078183c181002b503941867852d6c --- /dev/null +++ b/news/CTAS/2023.01.26/National Mentor Month : Mentoring Is Critical to Professional Development at Cintas.txt @@ -0,0 +1,29 @@ + +January is National Mentoring Month. Originally created by the youth organization Mentor, National Mentoring Month was established to help bring awareness to the power and impact of mentoring, and inspire people to get involved by providing enrichment and support to others. + +People who connect with others – especially those who mentor young and diverse individuals – help open doors, expand horizons and ultimately help create opportunities for young people that they may not otherwise have dreamed of, or had access to. + +At Cintas Corporation (Nasdaq: CTAS), the Fortune 500 business services company, executives view mentoring as an opportunity to enrich and expand the professional lives of the company’s employee-partners. + +The success of the company’s business relies on the passion, expertise and dedication of its workforce, and Cintas has prioritized its commitment to its employee-partners’ career development. + +Cintas’ organizational structure presents opportunities for employee-partners to pursue new work experiences while remaining with the company. The company’s strong desire to promote from within and support its ongoing growth with internal resources whenever possible signals its dedication to supporting the ongoing development of its employee-partners. + +Cintas takes a holistic approach to its workforce’s performance and advancement, and utilizes various development opportunities to continue fostering its employee-partners’ knowledge, experience and leadership. + +Mentoring is a universal element of the company’s development strategy, and a central component of Cintas’ employee-partners’ development of Cintas’ employee-partners. + +Mentoring opportunities are available to all of the organization’s almost 43,000 employee-partners, no matter their job or tenure. In addition, mentoring is a key component of Cintas’ annual succession planning process and has provided tremendous returns in helping develop the company’s current and future leaders. + +The company has established a framework to help best position mentors to guide their mentees on their current career path and help them obtain the necessary skills, knowledge, professional relationships, and insight to take the next steps in their careers. Employee-partners may also be paired with a mentor to help assist acclimation to a new role or department, or to help seed relationships in a complementary discipline. + +Cintas also offers formal training and resources to new mentors. This additional focus and preparation before becoming a mentor means they enter the program with a strong understanding of the process, its application, and when to recognize that a mentor–mentee relationship has come to its natural end. + +As each new mentor-mentee relationship begins, both employee-partners have guided resources to track regular meetings, touchpoints, opportunities and goals of the relationship. + +Most members of Cintas’ leadership team continue to mentor employee-partners and are trusted to dedicate their time and attention to our company’s next generation of leaders. + +About Cintas + +Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 Index and Nasdaq-100 Index. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230126005329/en/ \ No newline at end of file diff --git a/news/CTAS/2023.01.26/National Mentoring Month : Mentoring is Critical to Professional Development at Cintas.txt b/news/CTAS/2023.01.26/National Mentoring Month : Mentoring is Critical to Professional Development at Cintas.txt new file mode 100644 index 0000000000000000000000000000000000000000..f7710df3ef48f025f19646b08c6e1e7a0bc4443c --- /dev/null +++ b/news/CTAS/2023.01.26/National Mentoring Month : Mentoring is Critical to Professional Development at Cintas.txt @@ -0,0 +1 @@ +Mentoring is a central component of the company's professional development philosophy Type of Content Press Release Layout Standard Format BodyCINCINNATI - January is National Mentoring Month. Originally created by the youth organization Mentor, National Mentoring Month was established to help bring awareness to the power and impact of mentoring, and inspire people to get involved by providing enrichment and support to others.People who connect with others - especially those who mentor young and diverse individuals - help open doors, expand horizons and ultimately help create opportunities for young people that they may not otherwise have dreamed of, or had access to.At Cintas Corporation (Nasdaq: CTAS), the Fortune 500 business services company, executives view mentoring as an opportunity to enrich and expand the professional lives of the company's employee-partners.The success of the company's business relies on the passion, expertise and dedication of its workforce, and Cintas has prioritized its commitment to its employee-partners' career development.Cintas' organizational structure presents opportunities for employee-partners to pursue new work experiences while remaining with the company. The company's strong desire to promote from within and support its ongoing growth with internal resources whenever possible signals its dedication to supporting the ongoing development of its employee-partners.Cintas takes a holistic approach to its workforce's performance and advancement, and utilizes various development opportunities to continue fostering its employee-partners' knowledge, experience and leadership.Mentoring is a universal element of the company's development strategy, and a central component of Cintas' employee-partners' development of Cintas' employee-partners.Mentoring opportunities are available to all of the organization's almost 43,000 employee-partners, no matter their job or tenure. In addition, mentoring is a key component of Cintas' annual succession planning process and has provided tremendous returns in helping develop the company's current and future leaders.The company has established a framework to help best position mentors to guide their mentees on their current career path and help them obtain the necessary skills, knowledge, professional relationships, and insight to take the next steps in their careers. Employee-partners may also be paired with a mentor to help assist acclimation to a new role or department, or to help seed relationships in a complementary discipline.Cintas also offers formal training and resources to new mentors. This additional focus and preparation before becoming a mentor means they enter the program with a strong understanding of the process, its application, and when to recognize that a mentor-mentee relationship has come to its natural end.As each new mentor-mentee relationship begins, both employee-partners have guided resources to track regular meetings, touchpoints, opportunities and goals of the relationship.Most members of Cintas' leadership team continue to mentor employee-partners and are trusted to dedicate their time and attention to our company's next generation of leaders.About CintasCintas Corporation helps more than one million businesses of all types and sizes get Ready(TM) to open their doors with confidence every day by providing products and services that help keep their customers' facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor's 500 Index and Nasdaq-100 Index.Media Contact:Lizz Summers, Cintas Director of Corporate Affairs | summerse2@cintas.com, 513-972-2859.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/CTAS/2023.01.31/Cincinnati Leader Of Impact : Cintas' Katie Gough-Edwards.txt b/news/CTAS/2023.01.31/Cincinnati Leader Of Impact : Cintas' Katie Gough-Edwards.txt new file mode 100644 index 0000000000000000000000000000000000000000..33c679fd15ef2c7392136ca247e2de14a98acc21 --- /dev/null +++ b/news/CTAS/2023.01.31/Cincinnati Leader Of Impact : Cintas' Katie Gough-Edwards.txt @@ -0,0 +1,43 @@ + +Cintas Corporation’s Katie Gough-Edwards, a longtime advocate for heart health and the American Heart Association (AHA), won a seven-week fundraising challenge to become the AHA’s 2022 Leader of Impact for Greater Cincinnati. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230131005033/en/Cintas Corporation’s Katie Gough-Edwards, a longtime advocate for heart health and the American Heart Association (AHA), won a seven-week fundraising challenge to become the AHA’s 2022 Leader of Impact for Greater Cincinnati. She will be formally honored at the 2023 Greater Cincinnati Heart Ball on Saturday, Feb. 4, at the Hyatt Regency Cincinnati. (Photo: Business Wire) +Gough-Edwards, Cintas First Aid & Safety’s Midwest Director of Sales, will be honored for her passion and drive to make a difference at the 2023 Greater Cincinnati Heart Ball, Feb. 4 at the Hyatt Regency Cincinnati. The celebration follows a national competition that started Sept. 29 on World Heart Day and inspired $1.8 million in fundraising for the AHA. + +>> Media-Use Asset (Dropbox) – Gough-Edwards Headshot (.jpg) + +Gough-Edwards is among six area changemakers who raised a combined $114,727 in a campaign that ranked fourth in the country and first in its market size. Gough-Edwards raised nearly $37,000, or over a third of that total, in support of the AHA’s life-saving work. + +She was surprised to learn she’d won when the Cincinnati leaders gathered for a November conference call. + +“Because it was a blind competition, nobody knew what you were raising. It wasn’t posted anywhere, which made it more competitive and fun and really brought it back to raising money for a good cause,” Gough-Edwards said. “It was awesome to see that all the efforts of Cintas and our partners were so successful that we took first place.” + +The AHA’s challenge encouraged local leaders to promote heart health awareness and combat health inequities in their communities. This year, 209 local leaders across 150 cities created unique fundraising campaigns. + +Mark Carter, Cintas First Aid & Safety President and COO, nominated Gough-Edwards. As a supporter of the AHA personally and professionally for 13 years, he regarded her as an ideal ambassador. + +“Katie is a game-changer for the First Aid & Safety Division, as well as Cintas,” Carter said. “Her personal connections to heart disease and cardiovascular events, in addition to her influence and reach in our business, gave her the potential to be a tremendous force in this year’s Leaders of Impact campaign. I thought she was a natural choice to represent Cintas this year, and I’m so proud she represented Cintas and the American Heart Association so successfully.” + +Gough-Edwards credited the longstanding relationship between Cintas and the AHA for fostering awareness about heart disease, strokes, cardiac events and cardiovascular health. Not only is Cintas the AHA’s largest provider of CPR, first aid and Automated External Defibrillator (AED) training in the United States, but the company has trained and certified more than 900,000 people in lifesaving CPR and first aid since 2016. + +By participating in or donating to annual campaigns for the Heart Mini-Marathon & Walk and Go Red for Women, thousands of Cintas partners have helped raise funds to support the AHA’s education and awareness programs and fund important research to improve the outcomes of cardiac events. + +Gough-Edwards launched her Leader of Impact fundraising campaign on social media, where she shared that heart disease and cardiac events have affected her family members and loved ones – and even herself. Gough-Edwards had heart-related complications with the births of her three children. + +She was treated for preeclampsia, a high blood pressure disorder that can lead to life-threatening complications for mother and baby, with her first birth. Gough-Edwards thought she was in the clear after her second baby but was diagnosed with postpartum preeclampsia, a rare and serious condition that can occur up to six weeks after delivery. + +Even she didn’t know much about postpartum preeclampsia at the time. + +“There’s not a ton of education around it out in the community. We just don’t talk about it enough,” Gough-Edwards said. + +Although she did not have to be readmitted to the hospital following her third birth, she showed symptoms for postpartum preeclampsia and was properly treated by her physicians. + +Gough-Edwards continues to be a proponent of creating healthier communities through education that features AHA guidelines. The AHA trains 22 million people in CPR each year, has helped over 19 million patients with high blood pressure and has funded more than $5 billion in research. + +With help from her Cintas team, partners, friends, family and the community, Gough-Edwards is confident that the collective 2022 Greater Cincinnati Leaders of Impact campaign funds will help the AHA assist even more people while saving lives. + +“We’re investing in the American Heart Association so that they can continue to provide world-class research and education to our communities – how to live healthier, how to take care of your heart and how to make sure you’re getting the training you need,” Gough-Edwards said. + +About Cintas Corporation + +Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 Company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 index and the Nasdaq-100 index. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230131005033/en/ \ No newline at end of file diff --git a/news/CTAS/2023.02.01/Cintas honored among FORTUNE'S World's Most Admired Companies.txt b/news/CTAS/2023.02.01/Cintas honored among FORTUNE'S World's Most Admired Companies.txt new file mode 100644 index 0000000000000000000000000000000000000000..fd4b45d9e5bd53e9c46d44e77be9e2332922fa05 --- /dev/null +++ b/news/CTAS/2023.02.01/Cintas honored among FORTUNE'S World's Most Admired Companies.txt @@ -0,0 +1,15 @@ + +Cintas Corporation (Nasdaq: CTAS) has been honored as one of FORTUNE’S 2023 World’s Most Admired Companies. This is the 15th time that Cintas has been recognized by FORTUNE among its Most Admired Companies surveys. + +“Since our company was founded, Cintas has fostered a unique culture that guides how we run our business and how we think about every aspect of our company, including our customers, our employee-partners and our shareholders,” said Todd Schneider, Cintas President and CEO. “The way we run and manage the company, the value we provide to our customers, the support we provide our workforce, and the pride we have in our communities is meaningful to everyone here at Cintas. We’re truly honored that so many continue to hold Cintas in such high regard year after year.” + +To determine its 2023 World’s Most Admired Companies List, FORTUNE teamed with global management consulting firm Korn Ferry to survey global corporate reputation. Companies from among an initial pool of 1,500 candidates were divided into 52 different functional categories, with Cintas receiving placement in the Diversified Outsourcing Services category. The top finishers in each industry were named to the World’s Most Admired List. + +Cintas is currently listed on two other FORTUNE corporate rankings: the 2022 Fortune 500 and the 2022 Fortune Global 2000. Additionally, Cintas was recently recognized for its corporate citizenship and sustainable business model with its repeat inclusion on Newsweek’s list of America’s Most Responsible Companies in 2023. + +The complete listing of FORTUNE’S 2023 World’s Most Admired Companies is available at fortune.com. FORTUNE’s February/March print edition featuring the 2023 World’s Most Admired Companies list will be available on newsstands beginning Tuesday, Feb. 21. + +Cintas Corporation + +Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety training, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 Index and Nasdaq-100 Index. For more information, visit cintas.com. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005983/en/ \ No newline at end of file diff --git a/news/CTAS/2023.02.02/Cintas Honored Among FORTUNE's World's Most Admired Companies.txt b/news/CTAS/2023.02.02/Cintas Honored Among FORTUNE's World's Most Admired Companies.txt new file mode 100644 index 0000000000000000000000000000000000000000..d1f32dfc4919b793fe100220d44c04a73cfeab35 --- /dev/null +++ b/news/CTAS/2023.02.02/Cintas Honored Among FORTUNE's World's Most Admired Companies.txt @@ -0,0 +1 @@ +Cintas earns its 15th Most Admired Companies recognition from its industry peersCINCINNATI - Cintas Corporation (Nasdaq: CTAS) has been honored as one of FORTUNE'S 2023 World's Most Admired Companies. This is the 15th time that Cintas has been recognized by FORTUNE among its Most Admired Companies surveys."Since our company was founded, Cintas has fostered a unique culture that guides how we run our business and how we think about every aspect of our company, including our customers, our employee-partners and our shareholders," said Todd Schneider, Cintas President and CEO. "The way we run and manage the company, the value we provide to our customers, the support we provide our workforce, and the pride we have in our communities is meaningful to everyone here at Cintas. We're truly honored that so many continue to hold Cintas in such high regard year after year."To determine its 2023 World's Most Admired Companies List, FORTUNE teamed with global management consulting firm Korn Ferry to survey global corporate reputation. Companies from among an initial pool of 1,500 candidates were divided into 52 different functional categories, with Cintas receiving placement in the Diversified Outsourcing Services category. The top finishers in each industry were named to the World's Most Admired List.Cintas is currently listed on two other FORTUNE corporate rankings: the 2022 Fortune 500 and the 2022 Fortune Global 2000. Additionally, Cintas was recently recognized for its corporate citizenship and sustainable business model with its repeat inclusion on Newsweek's list of America's Most Responsible Companies in 2023.The complete listing of FORTUNE'S 2023 World's Most Admired Companies is available at fortune.com. FORTUNE's February/March print edition featuring the 2023 World's Most Admired Companies list will be available on newsstands beginning Tuesday, Feb. 21.Cintas CorporationCintas Corporation helps more than one million businesses of all types and sizes get Ready(TM) to open their doors with confidence every day by providing products and services that help keep their customers' facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety training, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor's 500 Index and Nasdaq-100 Index. For more information, visit cintas.com.Media ContactLizz Summers, Cintas Director of Corporate Affairs | summerse2@cintas.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/CTAS/2023.02.02/Cintas Kicks Off Heart Health Month with TJ McMahon's Life-Saving Story.txt b/news/CTAS/2023.02.02/Cintas Kicks Off Heart Health Month with TJ McMahon's Life-Saving Story.txt new file mode 100644 index 0000000000000000000000000000000000000000..57e2cadaaf8cf7447c49bd2a600ea03caddc3a83 --- /dev/null +++ b/news/CTAS/2023.02.02/Cintas Kicks Off Heart Health Month with TJ McMahon's Life-Saving Story.txt @@ -0,0 +1,68 @@ + +In recognition of National Heart Health Month, Cintas Corporation (Nasdaq: CTAS) celebrates the immediate and courageous actions taken by one of its First Aid & Safety Sales Representative TJ McMahon, based in Charlotte, N.C., that helped save a life. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230202005005/en/As National Heart Month kicks off, learn how Cintas First Aid & Safety Sales Representative TJ McMahon (right) used CPR and an AED he kept in his truck to save the life of his son's baseball coach, Rem Crawford (left) in August 2022 in Fort Mill, S.C. Full story: https://cint.as/4040o3R (Photo: Business Wire) +Sudden cardiac arrest presents a serious and escalating health challenge. More than 350,000 people suffer out-of-hospital cardiac events each year1. McMahon’s training enabled him to be ready™ for the unexpected and reinforced CPR and AEDs’ critical function in saving lives. + +“What we do matters,” McMahon said. “To be involved directly, to see the outcome – and then what comes from the outcome – 100% solidifies what I do for a living.” + +>> WATCH THE STORY ON YOUTUBE: https://cint.as/4040o3R + +As McMahon watched his son’s summer baseball practice unfold on Aug. 27, 2022, in Fort Mill, S.C., angling his chair along the shaded third-base line for relief from the heat, he had no idea he was about to save a man’s life. + +Batting practice had just begun when McMahon noticed his son’s coach, Rem Crawford, face-down on the ground. + +McMahon raced to Crawford’s side. He was not breathing. He had no pulse. + +“I immediately knew I had some form of relief inside of my truck,” McMahon said. + +Because of his sales role in Cintas’ First Aid & Safety division, McMahon travels everywhere with an Automated External Defibrillator (AED). The device analyzes a person’s heartbeat and issues an electrical shock when detecting an uncoordinated rhythm, and Cintas has helped save more than 600 lives with AEDs provided across the country. + +The next few minutes were an adrenaline-charged blur. McMahon asked someone to call 911, sent the players into a nearby parking lot away from the scene, bit open the AED pads with his teeth and tore off the cellophane in a frenzy. + +McMahon’s training was a crucial part of the life-saving measures, as he knew how to perform compressions, study real-time feedback from the AED and deliver shocks. Emergency Medical Technicians reinforced the process by phone as they sped toward the diamond. + +And then, success. + +“About 30 to 45 seconds into that second set, Rem comes back to life,” McMahon said. + +The incident happened so quickly that Crawford’s wife of 19 years, Ember, had yet to arrive. All three Crawford children had gone with Rem to practice while Ember, in a rare instance, had stayed home. She jumped into action when her 13-year-old daughter called in tears. + +“She said, ‘Dad’s on the ground and I don’t know what’s wrong. They said he’s not breathing,’” Ember said. “Please come!” + +Ember rushed out of the house without closing the front door. She spoke briefly by phone with Emergency Medical Services before her daughter called again, this time with good news: Rem was awake and traveling to the hospital via ambulance. + +Thank you, God, she remembered thinking, that I didn’t have to raise my children alone. That they don’t have to be without a dad. And that I don’t have to do life alone. + +Ember seized the opportunity to thank the man who’d saved her husband’s life when she arrived at the field. Another coach pointed out McMahon, who was pacing. + +“I’d been OK until then. I was able to pull myself together. And then I walked up and just hugged him and said thank you,” Ember recounted tearfully. + +“I was like, ‘No, no, don’t thank me. We were at the right place at the right time with the right stuff,” McMahon said. + +Ember was convinced her husband would not have survived without McMahon’s quick action and accessibility to the AED. Rem spent the next week recovering at the hospital after doctors inserted an internal defibrillator to maintain the rhythm of his heartbeat. + +In time, Rem was able to recount the circumstances leading to his collapse. He’d been nervous about leading the baseball team – his first head coaching role after years as an assistant coach – and worried about making mistakes. + +Rem remembered feeling off as batting practice began but couldn’t say why. The heat, probably. He became light-headed and began sweating profusely. + +“I got some water off the bench, came back and that’s when it happened. Everything went white. Next thing I know, there’s a paramedic above me,” Rem said. “Very, very strange. I thought it was a panic attack or something. Exertion. I wasn’t quite sure.” + +He was emotional and grateful after finding out the measures McMahon had taken, and he wanted to meet the man who saved his life. He did a little research from afar, even visiting McMahon’s LinkedIn page to learn more about the person he called his hero. + +They finally met in person at the ballpark in September, less than a month after Rem’s heart attack. Ember flagged down McMahon, who approached her car thinking he’d shake her husband’s hand. + +Instead, McMahon and Rem hugged for nearly 45 seconds. + +“It wasn’t a hand-shaking moment,” McMahon said. + +They became fast friends as dusk slipped into darkness. The men shared their perspectives of the incident, spoke at length about the AED’s impact and even made plans for their families to spend time together over the holidays. What started as quick action by McMahon became an unbreakable bond between two families that continues today. + +“I can’t thank him enough for what he’s done for us, for me, for my family, for my future,” Rem added. + +_______________________________ +1 American Heart Association. 2021. CPR Facts & Stats. https://cpr.heart.org/en/resources/cpr-facts-and-stats + +About Cintas Corporation + +Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 Company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 index and the Nasdaq-100 index. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005005/en/ \ No newline at end of file diff --git a/news/CTAS/2023.02.03/Cintas Kicks Off Heart Health Month With TJ McMahon's Life-Saving Story.txt b/news/CTAS/2023.02.03/Cintas Kicks Off Heart Health Month With TJ McMahon's Life-Saving Story.txt new file mode 100644 index 0000000000000000000000000000000000000000..60f51b60dcec243db4c1d8c4b356c3f7943cd2e7 --- /dev/null +++ b/news/CTAS/2023.02.03/Cintas Kicks Off Heart Health Month With TJ McMahon's Life-Saving Story.txt @@ -0,0 +1 @@ +* The fast actions of a First Aid & Safety Sales Representative, using CPR and an AED, helped save a life during a child's baseball practice. Type of Content Press Release Layout Standard Format BodyCINCINNATI - In recognition of National Heart Health Month, Cintas Corporation (Nasdaq: CTAS) celebrates the immediate and courageous actions taken by one of its First Aid & Safety Sales Representative TJ McMahon, based in Charlotte, N.C., that helped save a life.Sudden cardiac arrest presents a serious and escalating health challenge. More than 350,000 people suffer out-of-hospital cardiac events each year.1 McMahon's training enabled him to be ready(TM) for the unexpected and reinforced CPR and AEDs' critical function in saving lives."What we do matters," McMahon said. "To be involved directly, to see the outcome - and then what comes from the outcome - 100% solidifies what I do for a living."As McMahon watched his son's summer baseball practice unfold on Aug. 27, 2022, in Fort Mill, S.C., angling his chair along the shaded third-base line for relief from the heat, he had no idea he was about to save a man's life.Batting practice had just begun when McMahon noticed his son's coach, Rem Crawford, face-down on the ground.McMahon raced to Crawford's side. He was not breathing. He had no pulse."I immediately knew I had some form of relief inside of my truck," McMahon said.Because of his sales role in Cintas' First Aid & Safety division, McMahon travels everywhere with an Automated External Defibrillator (AED). The device analyzes a person's heartbeat and issues an electrical shock when detecting an uncoordinated rhythm, and Cintas has helped save more than 600 lives with AEDs provided across the country.The next few minutes were an adrenaline-charged blur. McMahon asked someone to call 911, sent the players into a nearby parking lot away from the scene, bit open the AED pads with his teeth and tore off the cellophane in a frenzy.McMahon's training was a crucial part of the life-saving measures, as he knew how to perform compressions, study real-time feedback from the AED and deliver shocks. Emergency Medical Technicians reinforced the process by phone as they sped toward the diamond.And then, success."About 30 to 45 seconds into that second set, Rem comes back to life," McMahon said.The incident happened so quickly that Crawford's wife of 19 years, Ember, had yet to arrive. All three Crawford children had gone with Rem to practice while Ember, in a rare instance, had stayed home. She jumped into action when her 13-year-old daughter called in tears."She said, 'Dad's on the ground and I don't know what's wrong. They said he's not breathing,'" Ember said. "Please come!"Ember rushed out of the house without closing the front door. She spoke briefly by phone with Emergency Medical Services before her daughter called again, this time with good news: Rem was awake and traveling to the hospital via ambulance.Thank you, God, she remembered thinking, that I didn't have to raise my children alone. That they don't have to be without a dad. And that I don't have to do life alone.Ember seized the opportunity to thank the man who'd saved her husband's life when she arrived at the field. Another coach pointed out McMahon, who was pacing."I'd been OK until then. I was able to pull myself together. And then I walked up and just hugged him and said thank you," Ember recounted tearfully."I was like, 'No, no, don't thank me. We were at the right place at the right time with the right stuff," McMahon said.Ember was convinced her husband would not have survived without McMahon's quick action and accessibility to the AED. Rem spent the next week recovering at the hospital after doctors inserted an internal defibrillator to maintain the rhythm of his heartbeat.In time, Rem was able to recount the circumstances leading to his collapse. He'd been nervous about leading the baseball team - his first head coaching role after years as an assistant coach - and worried about making mistakes.Rem remembered feeling off as batting practice began but couldn't say why. The heat, probably. He became light-headed and began sweating profusely."I got some water off the bench, came back and that's when it happened. Everything went white. Next thing I know, there's a paramedic above me," Rem said. "Very, very strange. I thought it was a panic attack or something. Exertion. I wasn't quite sure."He was emotional and grateful after finding out the measures McMahon had taken, and he wanted to meet the man who saved his life. He did a little research from afar, even visiting McMahon's LinkedIn page to learn more about the person he called his hero.They finally met in person at the ballpark in September, less than a month after Rem's heart attack. Ember flagged down McMahon, who approached her car thinking he'd shake her husband's hand.Instead, McMahon and Rem hugged for nearly 45 seconds."It wasn't a hand-shaking moment," McMahon said.They became fast friends as dusk slipped into darkness. The men shared their perspectives of the incident, spoke at length about the AED's impact and even made plans for their families to spend time together over the holidays. What started as quick action by McMahon became an unbreakable bond between two families that continues today."I can't thank him enough for what he's done for us, for me, for my family, for my future," Rem added.About Cintas CorporationCintas Corporation helps more than one million businesses of all types and sizes get Ready(TM) to open their doors with confidence every day by providing products and services that help keep their customers' facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 Company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor's 500 index and the Nasdaq-100 index.Media Contact:Lizz Summers, Cintas Director of Corporate Affairs | summerse2@cintas.com, 513-972-28591 American Heart Association. 2021. CPR Facts & Stats. https://cpr.heart.org/en/resources/cpr-facts-and-stats Video Your browser does not support the video tag..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/CTAS/2023.02.06/U.S. farmers plan to go 'heavy on corn' in 2023 despite risks.txt b/news/CTAS/2023.02.06/U.S. farmers plan to go 'heavy on corn' in 2023 despite risks.txt new file mode 100644 index 0000000000000000000000000000000000000000..40d5aa4ef9399578295a9cd7b8bc2fe43149d8dc --- /dev/null +++ b/news/CTAS/2023.02.06/U.S. farmers plan to go 'heavy on corn' in 2023 despite risks.txt @@ -0,0 +1 @@ +Plans for the upcoming season were made even as doubts mounted about demand and price gains for soybeans outstripped corn late last year. But early acreage forecasts and interviews with farmers show their faith in the biggest U.S. crop has not waned. A big crop from the world's largest corn exporter, pared with more modest demand as global economic growth cools, could further ease prices for the staple used in fuel and animal feed that have come down after surging to a 10-year high when Russia invaded major corn producer Ukraine a year ago. The decline in the cost of key inputs such as fertilizer in the second half of 2022 sparked hopes that corn would be profitable in 2023 even though it typically requires a more-active management style and greater financial investment than the No. 2 U.S. cash crop, soybeans."We are going to be heavy corn and probably the heaviest on corn we have been in a long time," said Brandon Hunnicutt, who farms 2,300 acres with his father and brother near Giltner, Nebraska.The budget for his farm's 2023 crops, devised as the 2022 harvest wound down, calls for about 90% of those acres to be devoted to corn, Hunnicutt said. That compares to about 55% in 2022. Hunnicutt cited the reliability of corn yields as a key reason to go big on corn in 2023."On corn, it is a little more scientific," he said. "Soybeans can kind of be a 'Well, I guess we will spray a fungicide and see if it works.'"Analysts at S&P Global Commodity Insights forecast U.S. farmers would plant 90.5 million acres of corn in 2023, 2.2% more than the previous year, and a more modest 0.6% increase for soybeans, mirroring other early forecasts.DEMAND WANESU.S. farmers alternate between soybeans and corn in a bid to maintain soil health. After favoring soybeans last year when fertilizer prices spiked, many are set to devote the majority of those fields to corn. "It would take something pretty monumental to switch a bunch of acres around," said Ohio farmer Scott Metzger. But the corn bushels might have a hard time finding a home after harvest starts in September.Since last year's harvest, exporters have booked sales of just 24.038 million tonnes of U.S. corn, down 43% from a year earlier, according to U.S. Agriculture Department data. In January, the government issued its most recent corn export forecast for the full year: 48.9 million tonnes, which was 19.8% below the initial export projection in May 2022.On the domestic front, U.S. corn consumption has been pegged at a seven-year low of 304.561 million tonnes in the 2022/23 marketing year, down 4% from a year earlier. That was largely due to weakening demand for feed as the U.S. beef cattle herd fell to its smallest since 1962 and an avian flu outbreak ravaged commercial flocks.HOPES FOR BETTER CROPRecent U.S. Agriculture Department data showed that after a drought last August, farmers were forced to abandon the highest percentage of their corn acreage in the past 10 years. This winter's weather has done little to replenish soil moisture the crop will need during the upcoming growing season.Last year's harvest shortfall left corn supplies at their lowest since 2013 and made farmers hopeful that prices would rally in the coming months.Illinois farmer Ellen Rahn plans to devote about 75% of the 1,600 acres of her farm to corn. She followed a similar strategy of increasing corn acres after the drought of 2012 wrecked harvest across the Midwest, sending stocks to their lowest in nine years and supporting prices for the 2013 crop."We are in a good part of the world ... where we are usually guaranteed decent yields," Rahn said. (Reporting by Mark Weinraub; Editing by Caroline Stauffer and David Gregorio)By Mark Weinraub \ No newline at end of file diff --git a/news/CTSH/2023.01.13/MarketScreener's World Press Review: January 13 .txt b/news/CTSH/2023.01.13/MarketScreener's World Press Review: January 13 .txt new file mode 100644 index 0000000000000000000000000000000000000000..030fb1675bd7039fe684f486b6b6b38230129b87 --- /dev/null +++ b/news/CTSH/2023.01.13/MarketScreener's World Press Review: January 13 .txt @@ -0,0 +1,11 @@ + +Vodafone, Taylor Wimpey, 888, Ubisoft, Carlyle, Apple, Warner Bros Discovery, Tesla, ConocoPhillips, Visa, MasterCard & American Express, Southwest Airlines, Cognizant technology, Tencent, Alibaba, Didi Global, Boeing & China Southern Airlines feature in this press review! + + + + +  +< +  +  +  diff --git a/news/CTSH/2023.01.17/Cognizant Schedules Fourth Quarter 2022 Earnings Release and Conference Call.txt b/news/CTSH/2023.01.17/Cognizant Schedules Fourth Quarter 2022 Earnings Release and Conference Call.txt new file mode 100644 index 0000000000000000000000000000000000000000..86dc27008128b606801bc1fc2e8cd80bc1782945 --- /dev/null +++ b/news/CTSH/2023.01.17/Cognizant Schedules Fourth Quarter 2022 Earnings Release and Conference Call.txt @@ -0,0 +1,22 @@ + + +TEANECK, N.J., Jan. 17, 2023 /PRNewswire/ -- Cognizant (Nasdaq: CTSH), a leading provider of information technology, consulting, and business process services, will announce results for the fourth quarter of 2022 on Thursday, February 2, 2023, after market close. + + + + + + + +Following the release, Cognizant management will conduct a conference call at 5:00 p.m. (Eastern) to discuss operating performance for the quarter. To participate in the conference call, domestic callers can dial 877-810-9510 and international callers can dial 201-493-6778 and provide the following conference passcode: Cognizant Call. +The conference call will also be available live on the Investor Relations section of the Cognizant website at http://investors.cognizant.com. Please go to the website at least 15 minutes prior to the call to register and to download and install any necessary audio software. +For those who cannot access the live broadcast, a replay will be available by dialing (877) 660-6853 for domestic callers or (201) 612-7415 for international callers and entering 13735053 from two hours after the end of the call until Thursday, February 16, 2023. The replay will also be available at Cognizant's website http://investors.cognizant.com for 60 days following the call. +About Cognizant +Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.  +Investor Contact:                                            Tyler Scott, Vice President, Investor Relations, (551) 220-8246, tyler.scott@cognizant.com + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cognizant-schedules-fourth-quarter-2022-earnings-release-and-conference-call-301720780.html +SOURCE Cognizant Technology Solutions + + diff --git a/news/CTSH/2023.01.19/Cognizant Schedules Fourth Quarter 2022 Earnings Release and Conference Call.txt b/news/CTSH/2023.01.19/Cognizant Schedules Fourth Quarter 2022 Earnings Release and Conference Call.txt new file mode 100644 index 0000000000000000000000000000000000000000..06597abbdf785dbe76dd9e504d0f283ce7b9ceef --- /dev/null +++ b/news/CTSH/2023.01.19/Cognizant Schedules Fourth Quarter 2022 Earnings Release and Conference Call.txt @@ -0,0 +1 @@ +Cognizant (Nasdaq: CTSH), a leading provider of information technology, consulting, and business process services, will announce results for the fourth quarter of 2022 on Thursday, February 2, 2023, after market close.Following the release, Cognizant management will conduct a conference call at 5:00 p.m. (Eastern) to discuss operating performance for the quarter. To participate in the conference call, domestic callers can dial 877-810-9510 and international callers can dial 201-493-6778 and provide the following conference passcode: Cognizant Call.The conference call will also be available live on the Investor Relations section of the Cognizant website at http://investors.cognizant.com. Please go to the website at least 15 minutes prior to the call to register and to download and install any necessary audio software.For those who cannot access the live broadcast, a replay will be available by dialing (877) 660-6853 for domestic callers or (201) 612-7415 for international callers and entering 13735053 from two hours after the end of the call until Thursday, February 16, 2023. The replay will also be available at Cognizant's website http://investors.cognizant.com for 60 days following the call.About CognizantCognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.Investor Contact:Tyler Scott, Vice President, Investor Relations, (551) 220-8246, tyler.scott@cognizant.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/CTSH/2023.01.25/IBM cuts 3,900 jobs, misses annual cash target.txt b/news/CTSH/2023.01.25/IBM cuts 3,900 jobs, misses annual cash target.txt new file mode 100644 index 0000000000000000000000000000000000000000..1ea8ba8ce6002b3fafd83f3309c310a50dd72b19 --- /dev/null +++ b/news/CTSH/2023.01.25/IBM cuts 3,900 jobs, misses annual cash target.txt @@ -0,0 +1,32 @@ +Jan 25 (Reuters) - IBM Corp on Wednesday +announced 3,900 layoffs as part of some asset divestments and +missed its annual cash target, dampening cheer around beating +revenue expectations in the fourth quarter.Chief Financial Officer James Kavanaugh told Reuters that +the company was still "committed to hiring for client-facing +research and development".The layoffs - related to the spinoff of its Kyndryl +business and a part of AI unit Watson Health - will cause a $300 +million charge in the January-March period, IBM said.Shares of the company fell 2% in extended trading, erasing +earlier gains on the largely upbeat results. Analysts said news +of the job cuts and free cash flow miss was behind the drop."It seems as if the market is disappointed by the size of +its announced job cuts, which only amounted to 1.5% of its +workforce," said Jesse Cohen, senior analyst at Investing.com."Investors were hoping for deeper cost-cutting measures."From Big Tech to Wall Street banking majors, U.S. companies +have been downsizing in earnest and slashing costs to better +cope with the global economic downturn.IBM's 2022 cash flow was $9.3 billion, below its target of +$10 billion, due to higher-than-expected working capital needs.The company also forecast annual revenue growth in the +mid-single digits on constant currency terms, weaker than the +12% it reported last year, as pandemic-led demand for digitizing +businesses has given way to cautious spending by clients amid +rising recession fears.In October, IBM flagged softness in new bookings in Western +Europe while peer Accenture Plc noted weakness in its +consulting business. Cognizant Technology Solutions Corp +in November cut its 2022 forecast due to a pullback in +contracts.IBM's software and consulting business growth slowed down +sequentially in the fourth quarter, but cloud spending was a +bright spot, with deal signings doubling in 2022 for setting up +services with partners such as Amazon.com's AWS and +Microsoft's Azure.Its hybrid cloud revenue rose 2% in the quarter ended Dec. +31.Total revenue was flat at $16.69 billion in the period, +compared with analysts' estimates of $16.40 billion, according +to Refinitiv.For 2022, IBM recorded revenue growth of 5.5%, its highest +in a decade.(Reporting by Chavi Mehta in Bengaluru; Editing by Devika +Syamnath) \ No newline at end of file diff --git a/news/CTSH/2023.01.25/IBM reports highest annual revenue growth in a decade.txt b/news/CTSH/2023.01.25/IBM reports highest annual revenue growth in a decade.txt new file mode 100644 index 0000000000000000000000000000000000000000..32d3e3f7f13f158b5bfdddef5799208a6ae860cc --- /dev/null +++ b/news/CTSH/2023.01.25/IBM reports highest annual revenue growth in a decade.txt @@ -0,0 +1 @@ +The IT software and consulting company also forecast annual revenue growth in the mid-single digits on constant currency terms, weaker than the 12% it reported for 2022 but in line with mid-term targets announced in 2021. Analysts have raised concerns if IBM would be able to deliver on that considering the turbulent macroeconomic backdrop.Big Blue's forecast for slower growth comes after a boom over the pandemic when companies splurged on digitizing their operations. Now, rising borrowing costs and recession fears are forcing businesses to tighten spending. IBM in October flagged softness in new bookings in Western Europe while peer Accenture Plc also noted weakness in its consulting business. Cognizant Technology Solutions Corp in November cut its 2022 forecast due to a pullback in contracts.Still, IBM Chief Financial Officer James Kavanaugh told Reuters on Wednesday that the company is seeing its consulting business grow in terms of cloud spending. Its deal signings doubled in 2022 for setting up services with hyperscaler partners such as Amazon.com's AWS and Microsoft's Azure, he said. "I can't stress that enough ... enterprise clients are looking at how they can better optimize their application portfolio and consumption requirement." Analysts also expect digitization and cloud-related contracts to stay more resilient than other IT projects. IBM's full-year revenue grew 5.5% to $60.53 billion thanks to its shift to the so-called "hybrid cloud" strategy - where the company helps clients set up their own data centers and use leased computing resources. Its hybrid cloud revenue rose 2% to $6.3 billion in the reported quarter.The 110-year old company, which makes more than half of its revenue outside the United States, said it expects a neutral foreign exchange impact on its business this year as the U.S. dollar weakens. It booked a forex hit of more than $1 billion during the fourth quarter.Total revenue growth was flat at $16.69 billion in the quarter ended Dec. 31, compared with analysts' estimates of $16.40 billion, according to Refinitiv data.Graphic: https://www.reuters.com/graphics/IBM-RESULTS/gdvzqwomjpw/chart.png (Reporting by Chavi Mehta in Bengaluru; Editing by Devika Syamnath)By Chavi Mehta \ No newline at end of file diff --git a/news/CTSH/2023.01.26/Cognizant and CoreLogic Extend Decade-Long Relationship With $1B, Ten-Year Services Agr...txt b/news/CTSH/2023.01.26/Cognizant and CoreLogic Extend Decade-Long Relationship With $1B, Ten-Year Services Agr...txt new file mode 100644 index 0000000000000000000000000000000000000000..b98d9053f1daa5fb2f9668836b551d6047d33f36 --- /dev/null +++ b/news/CTSH/2023.01.26/Cognizant and CoreLogic Extend Decade-Long Relationship With $1B, Ten-Year Services Agr...txt @@ -0,0 +1,40 @@ + + +Deal deepens scope of current collaboration with focus on delivering superior solutions and customer experience through digital transformation and operational excellence +TEANECK, N.J., Jan. 26, 2023 /PRNewswire/ -- Cognizant (NASDAQ: CTSH), a leading provider of information technology, consulting, and business process services, today announced a new, 10-year services agreement valued at approximately $1 billion with CoreLogic®, a leading global property information, analytics and data-enabled solutions provider. + + + + + + + +"Cognizant has been an invaluable partner for many years in helping build our platforms—giving clients the data-driven technology solutions they need to navigate business processes," said Abe Kuruvilla, Chief Information Officer at CoreLogic. "We are pleased to extend our relationship with Cognizant as we continue to leverage our many years of technology expertise and integrated digital solutions." +"We are thrilled to grow our relationship with CoreLogic and bring our technology prowess to bear in improving their user experience, digital tools, and processes utilized by professionals in their property information ecosystem," said Surya Gummadi, President of the Americas, at Cognizant. "Real estate, mortgage lifecycle, and insurance transactions depend on accurate, timely data and analytics. We are committed to helping CoreLogic provide this critical intelligence to clients while enhancing their user experience and further streamlining operating efficiency." +Building on their highly successful, decade-long strategic relationship, CoreLogic and Cognizant have agreed to expand their existing alliance. This new agreement features: +Expansion of Cognizant's services and anticipated value for CoreLogic, leveraging Cognizant's digital transformation expertise particularly in cloud migration, automation, and industry-specific platform innovations;Significant commitment to innovation and automation expected to benefit CoreLogic through lower technology and operations costs over the lifetime of the agreement; and,Strong focus on driving customer experience improvement through operational excellence.Since 2011, Cognizant has been a trusted service delivery partner, providing capabilities in application development and support, analytical modeling, and domain-centric business process services to CoreLogic and its customers, primarily in the U.S. mortgage and real estate markets. Together, CoreLogic and Cognizant have delivered key end-to-end business process and analytics solutions across CoreLogic's property information ecosystem. +About CoreLogic CoreLogic is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources include over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com. +About Cognizant Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant. +For more information, contact: +Cognizant U.S. +Jodi Sorensen +jodi.sorensen@cognizant.com +  +Cognizant India +Rashmi Vasisht +rashmi.vasisht@Cognizant.com +  +Cognizant Europe / APAC +Christina Schneider +christina.schneider@cognizant.com +CoreLogic +Robin Wachner +newsmedia@corelogic.com +  +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cognizant-and-corelogic-extend-decade-long-relationship-with-1b-ten-year-services-agreement-301730883.html +SOURCE Cognizant + + diff --git a/news/CTSH/2023.02.02/Cognizant : Q4 Earnings Snapshot.txt b/news/CTSH/2023.02.02/Cognizant : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..2a8a6ca08358f6f0ea76bc29bd7864bfc7463ece --- /dev/null +++ b/news/CTSH/2023.02.02/Cognizant : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +TEANECK, N.J. (AP) _ Cognizant Technology Solutions Corp. (CTSH) on Thursday reported fourth-quarter earnings of $521 million.On a per-share basis, the Teaneck, New Jersey-based company said it had net income of $1.02. Earnings, adjusted for non-recurring gains, were $1.01 per share.The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of $1.01 per share.The information technology consulting and outsourcing firm posted revenue of $4.84 billion in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $4.78 billion.For the year, the company reported profit of $2.29 billion, or $4.41 per share. Revenue was reported as $19.43 billion.For the current quarter ending in March, Cognizant said it expects revenue in the range of $4.71 billion to $4.76 billion. Analysts surveyed by Zacks had expected revenue of $5.05 billion.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTSH at https://www.zacks.com/ap/CTSHCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/CTSH/2023.02.02/Cognizant Names Eric Branderiz to Board of Directors.txt b/news/CTSH/2023.02.02/Cognizant Names Eric Branderiz to Board of Directors.txt new file mode 100644 index 0000000000000000000000000000000000000000..961e4efc71855a747bb037bd8653f46dfe00ff06 --- /dev/null +++ b/news/CTSH/2023.02.02/Cognizant Names Eric Branderiz to Board of Directors.txt @@ -0,0 +1,34 @@ + + +Branderiz brings over 26 years of financial and C-suite experience across the energy and technology sectors +Director Maureen Breakiron-Evans will not stand for re-election +TEANECK, N.J., Feb. 2, 2023 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced the appointment of Eric Branderiz to its Board of Directors ("the Board") as an independent director, effective February 21, 2023. Upon the commencement of Mr. Branderiz's term, Cognizant's Board will expand from 11 to 12 members, 11 of whom will be independent. + + + + + + + +"Eric is a proven financial executive and public company director with extensive experience overseeing financial and accounting operations for high-growth energy and technology companies," said Stephen Rohleder, Chair of the Board. "We are pleased to welcome Eric to the Board and look forward to leveraging his unique insights and expertise as we seek to reaccelerate growth and drive shareholder value." +The Board continues to strive towards optimizing its balance of director skills and tenures as part of its ongoing refreshment program. With the addition of Mr. Branderiz, the Board has appointed five new independent directors in the last four years. +In addition, Maureen Breakiron-Evans, who joined the Board in 2009, has informed the Board that she will not stand for re-election at Cognizant's 2023 Annual Meeting of Shareholders. +"We thank Maureen for her commitment to our shareholders, employees, and other stakeholders," Rohleder said. "She has made meaningful contributions to Cognizant during her decade of service on the Board, including as a member of our Audit and Governance and Sustainability Committees. On behalf of the Board, I'd like to wish Maureen well as she focuses on her family and other interests." +Given these changes to the Board's composition, the Board intends to evaluate the composition of its committees. +About Eric Branderiz +Mr. Branderiz, 57, brings significant experience in finance, accounting, M&A execution, risk management and ESG and corporate governance to Cognizant, as well as expertise across the energy, technology, semiconductor and renewables sectors. Mr. Branderiz most recently served as the Executive Vice President and Chief Financial Officer of Enphase Energy, Inc., a renewal energy technology company, from June 2018 to February 2022 and continued serving as an advisor until June 2022. Prior to joining Enphase, Mr. Branderiz served as the Chief Accounting Officer and Corporate Controller of Tesla, Inc., an automotive and renewal energy company, from October 2016 to March 2018, and in various senior roles, including as the Senior Vice President, Corporate Controller and Chief Accounting Officer, at SunPower Corporation, a solar energy system design and manufacturing company, from 2010 to 2016. Prior to joining SunPower Corporation, Mr. Branderiz served in various senior roles with Knowledge Learning Corporation, Spansion, Inc., and Advanced Micro Devices, Inc. Mr. Branderiz also serves on the Board of Directors of Fortive Corporation, a provider of essential technologies for connected workflow solutions across a range of attractive end-markets.  He is a Certified Public Accountant in California and received his bachelor's degree in Business Commerce with an emphasis on Accounting from University of Alberta, Canada.  +Fourth Quarter 2022 Earnings Call Details +In a concurrent release issued today, February 2, 2023, Cognizant announced financial results for the fourth quarter of 2022. +Cognizant management will conduct a conference call at 5:00 p.m. (Eastern) today to discuss operating performance for the quarter. To participate in the conference call, domestic callers can dial 877-810-9510 and international callers can dial 201-493-6778 and provide the following conference passcode: Cognizant Call. +The conference call will also be available live on the Investor Relations section of the Cognizant website at http://investors.cognizant.com. Please go to the website at least 15 minutes prior to the call to register and to download and install any necessary audio software. +For those who cannot access the live broadcast, a replay will be available by dialing (877) 660-6853 for domestic callers or (201) 612-7415 for international callers and entering 13735053 from two hours after the end of the call until Thursday, February 16, 2023. The replay will also be available at Cognizant's website http://investors.cognizant.com for 60 days following the call. +About Cognizant +Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant. +Investor Relations Contact:Tyler ScottVP, Investor Relations+1 551-220-8246Tyler.Scott@cognizant.com +Media Contact:Jeff DeMarraisVP, Corporate Communications+1 475-223-2298Jeff.DeMarrais@cognizant.com + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cognizant-names-eric-branderiz-to-board-of-directors-301737892.html +SOURCE Cognizant Technology Solutions + + diff --git a/news/CTSH/2023.02.03/Analyst recommendations: Alphabet, Apple, Boeing, Meta, Starbuck...txt b/news/CTSH/2023.02.03/Analyst recommendations: Alphabet, Apple, Boeing, Meta, Starbuck...txt new file mode 100644 index 0000000000000000000000000000000000000000..6890e9bc281c93bbad3ac61462ed7eb21a11115a --- /dev/null +++ b/news/CTSH/2023.02.03/Analyst recommendations: Alphabet, Apple, Boeing, Meta, Starbuck...txt @@ -0,0 +1,19 @@ + +  + +Alphabet: Morgan Stanley upgrades to $135 from $125. Maintains overweight rating.  +Apple: JP Morgan has maintained its recommendation on the stock with a Buy rating. The target price differs slightly and is now set at USD 175 versus USD 180. +Asos: Deutsche Bank downgrades from buy to hold targeting GBp 950. +Bakkavor: HSBC downgrades from hold to low, targeting GBp 100. +Boeing: RBC Capital Markets downgrades to sector perform from outperform. PT up 7.5% to $225. +Cardinal Health: Baird upgrades to outperform from neutral. PT up 23% to $94. +C.H. Robinson: Stifel downgrades to hold from buy. PT down 5.2% to $99. +Cognizant: Baird downgrades to neutral from outperform. PT down 3.8% to $68. +Direct Line: Barclays downgrades to underweight from equal-weight. PT down 7.7% to 173 pence. +Marks and Spencer: Deutsche Bank upgrades to buy from hold. PT up 30% to 210 pence. +Meta Platforms: DZ Bank upgrades to hold from sell. PT down 4.6% to $180. +Pets at Home: Deutsche Bank downgrades to hold from buy. PT down 4.7% to 355 pence. +SLM: Wells Fargo Securities downgrades to equal-weight from overweight. PT jumps 8.1% to $16. +Standard Chartered: Investec upgrades to buy from hold. PT up 11% to 740 pence. +Starbucks: Fubon Securities downgrades to neutral from buy. PT up 12% to $122. + diff --git a/news/CTSH/2023.02.03/Cognizant Named a Technology Leader Across Industries in 17 Analyst Reports Throughout ...txt b/news/CTSH/2023.02.03/Cognizant Named a Technology Leader Across Industries in 17 Analyst Reports Throughout ...txt new file mode 100644 index 0000000000000000000000000000000000000000..2ec7ec61dfca4efdd60eeec0a470c8da913320c5 --- /dev/null +++ b/news/CTSH/2023.02.03/Cognizant Named a Technology Leader Across Industries in 17 Analyst Reports Throughout ...txt @@ -0,0 +1,34 @@ + + +Top Analyst Firms Highlight Cognizant's Growing Partnerships, Technology Capabilities, and Innovative Thinking to Help Clients Quickly Scale and Compete +TEANECK, N.J., Feb. 3, 2023 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) was recognized for its technology leadership and digital modernization capabilities by independent analyst firms throughout Q4 2022. In 17 reports assessing technology providers in banking, insurance, healthcare, and other industries, Cognizant was highlighted for its strength in partnerships, such as Workday and Guidewire, as well as its advanced solutions, including automation and cloud implementation. + + + + + + + +During Q4 2022, Cognizant was named a Leader in the following reports: +October +Avasant: Property & Casualty Insurance Digital Services 2022-23November +Avasant: Digital Workplace Services 2022Avasant: Workday HCM Services 2022-2023Everest Group: Application and Digital Services in Life & Annuity (L&A) Insurance 2023Everest Group: Application and Digital Services in Property & Casualty (P&C) Insurance 2023Everest Group: Healthcare CXM Services in North America 2023Everest Group: Revenue Cycle Management Platforms 2023December +Avasant: Claims Processing Business Process Transformation 2022-2023Avasant: Utilities Digital Services 2022-2023Everest Group: Guidewire Services Assessment 2023Everest Group: Healthcare Provider Digital Services 2023Everest Group: Open Finance IT Services 2023Everest Group: Risk & Compliance in BFS IT Services 2023Everest Group: Software Product Engineering Services 2023HFS Horizons: Automation Service Providers 2022IDC MarketScape: US RCM Product Solutions 2022-2023IDC MarketScape: Worldwide Life Science R&D Pharmacovigilance Solutions"The number of analyst reports recognizing Cognizant's leadership increased each quarter throughout 2022 as we continued our commitment of delivering transformative solutions to our clients, from AI&A to automation and cloud technology," said Gaurav Chand, EVP and Chief Marketing Officer. "We are appreciative of the analyst community's diligence highlighting our industry expertise, and we look forward to helping more clients realize their visions through digital modernization in 2023." +Throughout 2022, Cognizant was recognized as a Leader in 53 different analyst reports. +About CognizantCognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant. +U.S. +Josh Blumenthal +Joshua.Blumenthal@Cognizant.com  +Europe / APAC +Christina Schneider +Christina.Schneider@Cognizant.com +India +Rashmi Vasisht +Rashmi.Vasisht@Cognizant.com +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cognizant-named-a-technology-leader-across-industries-in-17-analyst-reports-throughout-q4-2022-301737907.html +SOURCE Cognizant + + diff --git a/news/CTSH/2023.02.06/DOJ Announces Updates To Corporate Enforcement Policy.txt b/news/CTSH/2023.02.06/DOJ Announces Updates To Corporate Enforcement Policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..d0b0173a8b3e130ca61a2bc4b9e12cf5042d5682 --- /dev/null +++ b/news/CTSH/2023.02.06/DOJ Announces Updates To Corporate Enforcement Policy.txt @@ -0,0 +1,13 @@ +Assistant Attorney General Kenneth A. Polite, Jr. Announces Changes to Department of Justice Criminal Division's Corporate Enforcement PolicyOn January 17, 2023, Assistant Attorney General for the Criminal Division Kenneth A. Polite, Jr. (AAG Polite) announced revisions to the Department of Justice Criminal Division's Corporate Enforcement Policy.1 The Corporate Enforcement Policy--which was formerly known as the FCPA Corporate Enforcement Policy—revises the FCPA Corporate Enforcement Policy and expressly expands its application to all corporate criminal matters handled by the Criminal Division.2 The revisions are aimed at further incentivizing companies to develop and maintain robust corporate compliance programs, to swiftly voluntarily self-disclose suspected corporate misconduct, to cooperate fully with government investigations, and to timely and appropriately remediate.Under the revised Corporate Enforcement Policy:Throughout his remarks, AAG Polite reiterated that the Corporate Enforcement Policy aligns with the Division's top priority, as stated in prior DOJ memoranda and public announcements: ensuring individual accountability for corporate wrongdoing, as the Division is best positioned to secure such individual accountability when companies proactively bring corporate misconduct to light.BackgroundThe Corporate Enforcement Policy originally was introduced as a pilot program specific to the Division's Foreign Corrupt Practices Act (FCPA) Unit in April 2016. Under the pilot program, companies were incentivized to voluntarily self-disclose suspected misconduct, fully cooperate with any resulting DOJ investigation, timely remediate any weaknesses, and disgorge any profits from the unlawful conduct in exchange for potential charging and/or sentencing leniency. By November 2017, this pilot program became the FCPA Unit's formal policy for corporate enforcement.3 And in 2018, the Division incorporated these principles into the Justice Manual at Section 9-47.120, which forms today's Corporate Enforcement Policy.4Speaking from a podium at the Georgetown University Law Center in Washington, D.C., AAG Polite announced what he branded as "the first significant changes to the Criminal Division's Corporate Enforcement Policy since 2017," changes that he maintained would incentivize companies to "do the right thing" in self-disclosing alleged misconduct and cooperating with DOJ investigations.5AAG Polite outlined three primary changes to the Corporate Enforcement Policy, as follows.1. Expanded Eligibility for Declinations Even with Aggravating CircumstancesThe Corporate Enforcement Policy continues to attempt to incentivize voluntary self-disclosures from companies by asserting that when a company has voluntarily self-disclosed misconduct to the Criminal Division, fully cooperated, and timely and appropriately remediated, there is a presumption that the company will receive a declination (with required disgorgement of profits obtained from the unlawful conduct), absent aggravating circumstances involving the seriousness of the offense or the nature of the offender. AAG Polite provided a non-exhaustive list of examples of such aggravating circumstances (also set forth in the Corporate Enforcement Policy) that included egregious or pervasive misconduct; involvement by executive management; significant resulting corporate profits; or criminal recidivism.Under the revised Corporate Enforcement Policy, DOJ expanded eligibility for declinations after voluntary disclosure. Specifically, DOJ may determine that a corporate declination is appropriate despite the existence of aggravating circumstances if the following three conditions are met: Although this revision to the Corporate Enforcement Policy may appear to mark a significant policy change, DOJ has in the past awarded Corporate Enforcement Policy declinations where aggravating circumstances appear to have been present. For example, in 2019, DOJ declined prosecution of Cognizant Technology Solutions Corporation, "[d]espite the fact that certain members of senior management" participated in and directed the conduct at issue.6 Likewise, in 2018, DOJ declined prosecution of Insurance Company of Barbados Limited, notwithstanding the "high-level involvement of corporate officers in the misconduct." 7 Nonetheless, with this announcement, the Criminal Division appears to have formalized eligibility for obtaining a declination where aggravating circumstances are present and to have established specific, if demanding, requirements for eligibility. The bar for obtaining a declination with aggravating circumstances will be considerable, given that disclosure must be "immediate" and cooperation and remediation must be "extraordinary." (See below for further discussion of what may constitute "extraordinary" cooperation and remediation)2. Increased Potential Credit for Voluntary Self-Disclosures that Do Not Receive a DeclinationAAG Polite also announced that if a company voluntarily self-discloses misconduct, fully cooperates, and timely and appropriately remediates, but does not receive a declination under the Corporate Enforcement Policy, DOJ will recommend a reduction of at least 50% and up to 75% off of the low end of the Guidelines range as part of the criminal resolution—provided that the company is not a criminal recidivist; if a company is a recidivist, DOJ will still apply a 50% to 75% reduction, but generally not from the low end of the Guidelines range. Such a situation might occur where a company voluntarily self-discloses misconduct, DOJ determines that aggravating circumstances are present, and DOJ determines that the company has failed to meet the specific conditions required to obtain a declination.Previously, the reduction available in such circumstances was 50% off of the low end of the Guidelines range. The revised policy also added that DOJ will likely not require a corporate guilty plea in such circumstances, absent particularly egregious aggravating circumstances. 3. Increased Potential Credit for Companies that Do Not Voluntarily Self-Disclose but Engage in Extraordinary Cooperation and RemediationAAG Polite also announced that, even in instances where companies do not voluntarily self-disclose, prosecutors will have a greater range of options to incentivize those companies' "extraordinary" cooperation and remediation. The revised Corporate Enforcement Policy provides that if a company is not a criminal recidivist and provides "extraordinary" cooperation and remediation, it may receive a recommended fine reduction of up to 50% off of the low end of the Guidelines range. This represents a significant change from the prior Corporate Enforcement Policy, which provided for a maximum penalty reduction of 25% off of the low end of the Guidelines range, absent voluntary self-disclosure.AAG Polite quickly clarified that companies are not presumptively entitled to this reduction, which he framed as the maximum reduction available only for the best corporate cooperators and remediators. Instead, every company under investigation "starts at zero" and earns credit for remediation and cooperation based on degree. Only those non-self-disclosing companies that are truly extraordinary in their cooperation and remediation efforts will receive this credit.What Is "Extraordinary" Cooperation and Remediation?Near the close of his remarks, AAG Polite addressed a resultant question: what might make cooperation and remediation "extraordinary"? He explained that "extraordinary" cooperation and remediation may differ from "full" cooperation and remediation more in degree than in kind, noting that immediacy, consistency, degree, and impact would be significant concepts in the Division's calculation.For example, in terms of cooperation, AAG Polite highlighted the importance of collaboration with individuals in the company, consistent candor and truthfulness, obtaining evidence that might not otherwise be attainable (e.g., obtaining information from abroad or recording conversations), making witnesses available to testify at trial, and providing evidence that might lead to additional individual charges and convictions. He did not, however, provide examples of "extraordinary" remediation.Key Considerations for CompaniesIn light of the Corporate Enforcement Policy's expansion beyond the FCPA to virtually all forms of corporate misconduct that are investigated by the Criminal Division of DOJ, corporate leaders from all industries should take heed of the AAG's remarks and DOJ's ongoing corporate enforcement approach.Footnotes1. "Assistant Attorney General Kenneth A. Polite, Jr. Delivers Remarks on Revisions to the Criminal Division's Corporate Enforcement Policy," (Jan. 17, 2023), available at https://www.justice.gov/opa/speech/assistant-attorney-general-kenneth-polite-jr-delivers-remarks-georgetown-university-law.2. With this expansion, the Corporate Enforcement Policy now applies not just to FCPA cases, but also to all corporate criminal matters handled by the Criminal Division, which includes cases handled by the Money Laundering and Asset Recovery Section and the Fraud Section (which includes the FCPA Unit, Healthcare Frauds Unit, and Market Integrity and Major Frauds Unit).3. Id.4. DOJ, Criminal Division Corporate Enforcement and Voluntary Self-Disclosure Policy, JUSTICE MANUAL § 9-47.120 (2023).5. In March, April, and November of 2019, DOJ announced a series of smaller changes to the Corporate Enforcement Policy.6. See U.S. Department of Justice Letter Re: Cognizant Technology Solutions Corporation (Feb. 13, 2019), available at https://www.justice.gov/criminal-fraud/file/1132666/download.7. See U.S. Department of Justice Letter Re: Insurance Company of Barbados Ltd. (Aug. 23, 2018), available at https://www.justice.gov/criminal-fraud/page/file/1089626/download.8. See U.S. Sentencing Guidelines, 2018 Chapter 8, Sentencing of Organizations, https://www.ussc.gov/guidelines/2018-guidelines-manual/2018-chapter-8.The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Robert L. Boone +WilmerHale +7 World Trade Center, +250 Greenwich Street +New York +New York 10007 +UNITED STATES +Tel: 6175266000 +Fax: 6175265000 +E-mail: laura.bulcher@wilmerhale.com +URL: www.wilmerhale.com +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/CTSH/2023.02.13/Cognizant Names Nella Domenici to Board of Directors.txt b/news/CTSH/2023.02.13/Cognizant Names Nella Domenici to Board of Directors.txt new file mode 100644 index 0000000000000000000000000000000000000000..4771d71df1ade2ed6abadf2006fec3d3f913da25 --- /dev/null +++ b/news/CTSH/2023.02.13/Cognizant Names Nella Domenici to Board of Directors.txt @@ -0,0 +1,25 @@ + + +Domenici brings strong expertise in strategic finance, corporate strategy and M&A +TEANECK, N.J., Feb. 13, 2023 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced the appointment of Nella Domenici to its Board of Directors (the "Board") as an independent director, effective February 21, 2023. Upon the commencement of Ms. Domenici's term, which will begin concurrently with the previously announced appointment of Eric Branderiz, Cognizant's Board will expand to 13 members, 12 of whom are independent. + + + + + + + +"We are pleased to welcome a financial and operations executive of Nella's caliber to the Cognizant Board," said Stephen Rohleder, Chair of the Board. "Nella's insights into the capital markets and the institutional investor community will allow her to contribute immediately. Additionally, her background driving strategy for high quality technology and investment firms, combined with her deep M&A and board leadership experience, will prove valuable assets for Cognizant as we continue to prioritize growth across the business." +The Board continues to strive towards optimizing its balance of director skills and tenures as part of its ongoing refreshment program. With the addition of Ms. Domenici, the Board has appointed six new independent directors in the last four years. +About Nella Domenici +Ms. Domenici, 62, brings significant experience in strategic finance management, corporate strategy and operations, and capital markets.  She most recently served as the Chief Financial Officer and a member of the Management Committee of Dataminr, a leading artificial intelligence company that detects emerging risks from publicly available information. Prior to joining Dataminr, Ms. Domenici was Chief Financial Officer and a member of the Operating Committee at Bridgewater Associates, a global leader in institutional portfolio management and the world's largest hedge fund. Ms. Domenici has also held senior strategic and financial positions at other prominent companies, including Citadel Investment Group, Credit Suisse and the Monitor Consulting Group. She serves on the board of directors of AllianceBernstein Holding LP and, from May 2020 to October 2022, she served on the board of Change Healthcare Inc.  She received her bachelor's degree in English literature from Georgetown University, her juris doctorate from Georgetown University Law Center and her Master of Business Administration degree from Harvard Business School where she graduated with high distinction as a Baker Scholar. +About Cognizant +Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant. +Investor Relations Contact:Tyler ScottVP, Investor Relations+1 551-220-8246Tyler.Scott@cognizant.com +Media Contact:Jeff DeMarraisVP, Corporate Communications+1 475-223-2298Jeff.DeMarrais@cognizant.com + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cognizant-names-nella-domenici-to-board-of-directors-301745583.html +SOURCE Cognizant Technology Solutions + + diff --git a/news/CTSH/2023.02.17/New Buy Alert in the USA Investor Portfolio.txt b/news/CTSH/2023.02.17/New Buy Alert in the USA Investor Portfolio.txt new file mode 100644 index 0000000000000000000000000000000000000000..edef844233d381de20352f0233255d2310cacdc6 --- /dev/null +++ b/news/CTSH/2023.02.17/New Buy Alert in the USA Investor Portfolio.txt @@ -0,0 +1,12 @@ + +Today we sold Alphabet Inc and Cognizant Technology Solutions Corporation in the USA Investor portfolio with respective capital gains of 94.18% and -8.77%. The aim of this arbitration is to reduce our portfolio's exposure to technology stocks by 30 to 25%. +Related to Alphabet Inc, in addition to disappointing publications and downward revisions, we are concerned that the short-term pressures that the American firm is undergoing in areas such as AI will persist for some time. This will undermine the price appreciation potential and the momentum of the stock. The recent publications of Cognizant Technology Solutions Corporation are also at the origin of our decision to separate ourselves from this stock. The downward revisions suggest to us that there are currently better alternatives in the market. In addition, the Superformance® ratings have deteriorated, particularly in terms of momentum. +Alphabet Inc. and Cognizant Technology Solutions Corporation were replaced by Lamb Weston Holdings Inc. and Super Micro Computer Inc. These two U.S. stocks, a frozen potato products trader and a server and storage systems platform distributor, respectively, joined our portfolio on the basis of two strong fundamentals. In addition to good momentum, these stocks boast strong margins and high returns on capital. + + + +MarketScreener Relative Ratings - Lamb Weston Holdings Inc + + + +MarketScreener Relative Ratings - Super Micro Computer Inc diff --git a/news/CTSH/2023.02.27/Cognizant to Present at the Morgan Stanley Technology, Media & Telecom Conference.txt b/news/CTSH/2023.02.27/Cognizant to Present at the Morgan Stanley Technology, Media & Telecom Conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..0582c498c66186ffe79cb2686e9fbafef41c9eb7 --- /dev/null +++ b/news/CTSH/2023.02.27/Cognizant to Present at the Morgan Stanley Technology, Media & Telecom Conference.txt @@ -0,0 +1,30 @@ + + +TEANECK, N.J., Feb. 27, 2023 /PRNewswire/ -- Cognizant (Nasdaq: CTSH), a leading provider of information technology, consulting, and business process services, today announced a presentation at the following investor conference:  + + + + + + + +Morgan Stanley Technology, Media & Telecom Conference +  • Presenter: +Jan Siegmund - Chief Financial Officer  +  • Date: +Wednesday, March 8, 2023 +  • Time: +11:35AM EST  +Live audio webcasts of the presentations will be available at Cognizant's website: +http://investors.cognizant.com  +A replay of the webcasts will remain available on the company's website for 90 days.  +About Cognizant  +Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.   +Investor Contact:Tyler Scott, Vice President, Investor Relations, (551) 220-8246, tyler.scott@cognizant.com  +  + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/cognizant-to-present-at-the-morgan-stanley-technology-media--telecom-conference-301755227.html +SOURCE Cognizant Technology Solutions + + diff --git a/news/DDOG/2023.01.05/Datadog : Historical log analysis and investigation with Online Archives.txt b/news/DDOG/2023.01.05/Datadog : Historical log analysis and investigation with Online Archives.txt new file mode 100644 index 0000000000000000000000000000000000000000..63b0f6b51638b8131948850106d204d8d04ddca3 --- /dev/null +++ b/news/DDOG/2023.01.05/Datadog : Historical log analysis and investigation with Online Archives.txt @@ -0,0 +1,99 @@ + + +feature / log management / cloud siem + + +Editor's note: This post was updated on January 5, 2023, to reflect Executive Order 14028, Improving the Nation's Cybersecurity, which requires Federal agencies to retain logs for 12 months in active storage and 18 months in cold storage. + + + To have full visibility into modern cloud-based and hybrid environments, organizations need to collect an ever-growing avalanche of log data from a range of highly complex data sources. Indexing logs is key for real-time monitoring and troubleshooting, but it can quickly become expensive at high volumes, which often makes it necessary to choose which logs to index and which to archive. But there are many situations in which organizations require complete access to long-term historical logs, while keeping costs manageable. + + + For example, security investigations and compliance audits may require querying logs from the past year or more-for some sectors, these requirements are now a federal mandate. In addition, organizations may want to analyze trends across high-cardinality data sets over long time periods. Additionally, DevOps teams creating postmortems or troubleshooting support issues may need to look back at log data from many months prior to the incident itself. But current logging solutions don't offer a cost-effective way to store and query your complete log data over a long time window, forcing customers to make tradeoffs and lose critical visibility. + + + That's why Datadog developed Online Archives, an always-on log warehousing solution that allows you to retain and search all of your log data for 15 months or more for the same amount it costs to index data for one month. Datadog's Online Archives is an alternative to indexing, meaning teams will be able to continue using indexes for real-time log streaming and alerting, and use Online Archives for situations requiring historical investigation and analysis. + + + In this post, we'll look at how Datadog's Online Archives can help users: + + + +Perform historical analysis and investigations with ease + + +Effortlessly configure log archives and explore the data + + +Adhere to federal regulations + + + +Perform historical analysis and investigations with ease + + + Having the ability to store, search and analyze huge amounts of historical log data is vital in a number of different situations that don't necessarily need immediate query responses. These include things like running security investigations across large environments, performing audits to adhere to strict compliance frameworks, meeting regulatory requirements, and running long-term analytics on high-cardinality datasets. + + + For example, when you experience a security breach or receive a report of an insider threat, your security team will need to comb through weeks, if not months, of log events to identify malicious activity. An investigation of all the activity from a particular, suspicious IP address may require scanning petabytes of data, assessing the timeline of activity from that IP, and generating reports for other teams (e.g., legal and executive). + + + Similarly, businesses and agencies operating in regulated industries-such as financial services, public sector and government, insurance, healthcare, and transportation-have stringent requirements around servicing audit requests. Keeping vast amounts of log data in a queryable state for these requests gets expensive, and any follow-up requests will require you to constantly provide up-to-date reports. Now, these teams can store their logs in Datadog's Online Archives to save money, while still adhering to stringent regulations. + + + E-commerce providers, digital content creators, sports and entertainment companies, and businesses using IoT devices frequently need to perform long-term analytics on high cardinality datasets, such as users, IP addresses, device IDs, or items purchased, among others. As an example, a gaming company might want to compare the long-term trends in signups across different platforms for millions of users. Creating custom metrics to track signups requires foresight and will be very expensive. Instead, you can now use Online Archives to run data analysis queries on large, high-cardinality datasets for a fraction of the cost. + + + Online Archives addresses all these use cases by keeping logs queryable for 15 months or more, so teams don't spend time spinning up new solutions, moving data between tiers, or worrying about query capacity and associated costs. + + +Effortless configuration and data exploration + + + Datadog's Online Archives can warehouse logs regardless of whether they are indexed or not. For indexed logs, you can simply attach a new Online Archive to an existing log index. + + + Online Archives are a superset of all your logs routed to an index. Even when you have set exclusion filters on your indexes, logs filtered out will still be available in Online Archives. + + + You can query and analyze your logs stored in Online Archives directly from the Log Explorer the same way as you would with other indexed logs. + + +Use Online Archives to adhere to federal regulations + + + Federal compliance is also a key driver of log retention needs. An August 2021, Executive Order from The White House requires critical infrastructure owners (e.g., teams in financial services, IT, healthcare, and other key sectors) to retain logs for 12 months in active storage and 18 months in cold storage. Per Executive Order 14028, critical infrastructure owners must report any cyber incidents or ransomware payments. While organizations may be required to report these incidents very quickly-within three days of detection for the most severe breaches-they may need long-term log storage so they can submit evidence for potential audits or inquiries from regulators. + + + Online Archives' 15-month log retention period exceeds EO 14028's requirement of 12 months of active storage, and logs in cold storage can always be rehydrated, meeting the 18-month cold storage requirement. Additionally, government agencies, educational institutions, and other public-sector organizations that use AWS GovCloud to adhere to strict security and compliance standards can easily stream GovCloud logs into Datadog by installing the AWS 1-click integration. These GovCloud logs will automatically be available for rehydration and archiving in Datadog. + + +Start using Online Archives + + + Datadog's Online Archives offers long-term storage of your log data in a queryable state, enabling you to perform historical log analysis and adhere to compliance regulations without incurring heavy costs. + + + Online Archives is available in all Datadog regions including AWS GovCloud; simply install the 1-click AWS integration. Otherwise, you can reach out to your representative at Datadog and request access here. + + + If you're new to Datadog and want to monitor your logs, metrics, distributed request traces, and more in one fully unified platform, you can start a 14-day free trial. + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Datadog Inc. published this content on 05 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 January 2023 19:07:09 UTC. + + diff --git a/news/DDOG/2023.01.12/Metaplane Raises $8.4m to Ensure Organizational Trust in Data.txt b/news/DDOG/2023.01.12/Metaplane Raises $8.4m to Ensure Organizational Trust in Data.txt new file mode 100644 index 0000000000000000000000000000000000000000..db9e2c59f7c780f94bfec79d3c25348fddb48e20 --- /dev/null +++ b/news/DDOG/2023.01.12/Metaplane Raises $8.4m to Ensure Organizational Trust in Data.txt @@ -0,0 +1 @@ +BOSTON - Metaplane announced a $8.4M seed round. Khosla Ventures led the round with participation from Flybridge Ventures, Stage 2 Capital, and several angels including the founders of HubSpot, Okta, and Vercel. Metaplane was founded by Kevin Hu, who holds a PhD in data visualization and machine learning from MIT, and Peter Casinelli and Guru Mahendran, who were founding engineers on the HubSpot CRM. Together, the team has published widely-reviewed papers in data and built several tools for data teams before their current mission of enabling organizations to trust their data.'Every day, as data teams do the hard work of helping companies succeed, they get cut by a double-edged sword: when data is used in critical paths, the stakes for data quality are raised,' shared Metaplane's Co-founder and CEO, Kevin Hu. 'While there are great tools like Datadog for observing software, there has been a lack of tools for observing data itself.'Metaplane's data observability platform offers data teams a better solution for discovering and acting on data issues before they affect stakeholders downstream. It automatically monitors modern data stacks from warehouses to BI dashboards, identifies normal behavior (e.g. lineage, volumes, distributions, freshness), and then alerts the right people when anomalies arise.Metaplane has over 100 teams using its product to discover, debug, and mitigate data issues, including teams at Imperfect Foods, Mux, and Reforge. The product is self-serve - allowing data and analytics engineers to connect their data sources and start monitoring in less than 30 minutes.'Data observability is becoming a must-have as businesses continue to leverage data to drive revenue and reduce costs,' said Kanu Gulati, partner at Khosla Ventures. 'Already, we are seeing teams from small startups to public enterprises adopt Metaplane within minutes, with remarkable retention and customer love across all segments. We are excited to be working with this team to ensure organizations can have trust in their data to drive better business outcomes.'Release SummaryFounded by MIT and HubSpot engineers, Metaplane has raised $8.4m for its data observability product to enable organizations to trust their data.About MetaplaneMetaplane is the Datadog for Data. Data teams at high-growth companies (like Imperfect Foods, Mux, and Reforge) use the Metaplane data observability platform to save engineering time and increase trust in data by understanding when things break, what went wrong, and how to fix it - before an executive messages them about a broken dashboard.Contact:Kevin HuE: press@metaplane.dev(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/DDOG/2023.01.19/Datadog Announces Date of Fourth Quarter and Fiscal Year 2022 Earnings Call.txt b/news/DDOG/2023.01.19/Datadog Announces Date of Fourth Quarter and Fiscal Year 2022 Earnings Call.txt new file mode 100644 index 0000000000000000000000000000000000000000..0f74f2ed4a12a07ab21b84e1c79a03c938478861 --- /dev/null +++ b/news/DDOG/2023.01.19/Datadog Announces Date of Fourth Quarter and Fiscal Year 2022 Earnings Call.txt @@ -0,0 +1,21 @@ + + +NEW YORK, Jan. 19, 2023 /PRNewswire/ -- Datadog, Inc. (NASDAQ:DDOG), the monitoring and security platform for cloud applications, today announced that it will report its fourth quarter and fiscal year 2022 financial results before the U.S. financial markets open on Thursday, February 16, 2023. + + + + + + + +In conjunction with this announcement, Datadog will host a conference call on Thursday, February 16, 2023 at 8:00 a.m. Eastern Time to discuss the Company's financial results and financial guidance. To access the conference call by phone, please click this link to register for dial-in details. A live webcast of the call will be available on the Investor Relations page of the Company's website, and a replay will be archived on the website. +About DatadogDatadog is the monitoring and security platform for cloud applications. Our SaaS platform integrates and automates infrastructure monitoring, application performance monitoring and log management to provide unified, real-time observability of our customers' entire technology stack. Datadog is used by organizations of all sizes and across a wide range of industries to enable digital transformation and cloud migration, drive collaboration among development, operations, security and business teams, accelerate time to market for applications, reduce time to problem resolution, secure applications and infrastructure, understand user behavior and track key business metrics. +Contact Information +Yuka BroderickDatadog Investor RelationsIR@datadoghq.com +Dan HaggertyDatadog Public RelationsPress@datadoghq.com + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/datadog-announces-date-of-fourth-quarter-and-fiscal-year-2022-earnings-call-301726031.html +SOURCE Datadog, Inc. + + diff --git a/news/DDOG/2023.02.16/Datadog : Q4 Earnings Snapshot.txt b/news/DDOG/2023.02.16/Datadog : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..9c132a29191bbc1a45e33b2d813ca26333bf8e87 --- /dev/null +++ b/news/DDOG/2023.02.16/Datadog : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +NEW YORK (AP) — NEW YORK (AP) — Datadog Inc. (DDOG) on Thursday reported a fourth-quarter loss of $29 million, after reporting a profit in the same period a year earlier.On a per-share basis, the New York-based company said it had a loss of 9 cents. Earnings, adjusted for stock option expense and amortization costs, were 26 cents per share.The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.The data analytics and cloud monitoring company posted revenue of $469.4 million in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $447 million.For the year, the company reported that its loss widened to $50.2 million, or 16 cents per share. Revenue was reported as $1.68 billion.For the current quarter ending in March, Datadog expects its per-share earnings to range from 22 cents to 24 cents.The company said it expects revenue in the range of $466 million to $470 million for the fiscal first quarter.Datadog expects full-year earnings in the range of $1.02 to $1.09 per share, with revenue ranging from $2.07 billion to $2.09 billion.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DDOG at https://www.zacks.com/ap/DDOGFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/DDOG/2023.02.16/Datadog Announces Fourth Quarter and Fiscal Year 2022 Financial Results.txt b/news/DDOG/2023.02.16/Datadog Announces Fourth Quarter and Fiscal Year 2022 Financial Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..4e93ebee620e44e52337ba24c6e0d570cb080d5f --- /dev/null +++ b/news/DDOG/2023.02.16/Datadog Announces Fourth Quarter and Fiscal Year 2022 Financial Results.txt @@ -0,0 +1,756 @@ + + +Fourth quarter revenue grew 44% year-over-year to $469 million +Strong growth of larger customers, with 317 $1 million+ ARR customers, up from 216 a year ago +Launched Universal Service Monitoring +NEW YORK, Feb. 16, 2023 /PRNewswire/ -- Datadog, Inc. (NASDAQ:DDOG), the observability and security platform for cloud applications, today announced financial results for its fourth quarter and fiscal year ended December 31, 2022. + + + + + + + +"We are pleased with our fourth quarter performance, as we delivered more value to more customers across our broadening platform, while driving strong profitability and cash generation," said Olivier Pomel, co-founder and CEO of Datadog. "We are proud of our strong execution in fiscal year 2022, with 63% year-over-year revenue growth, $418 million in operating cash flow, and $354 million in free cash flow." +Pomel added, "In a time when efficiency, cost savings, and agility are more important than ever for our customers, we are excited to deliver even more innovations and business value to our customers in 2023." +Fourth Quarter 2022 Financial Highlights: +Revenue was $469.4 million, an increase of 44% year-over-year.GAAP operating loss was $(34.6) million; GAAP operating margin was (7)%.Non-GAAP operating income was $83.1 million; non-GAAP operating margin was 18%.GAAP net loss per diluted share was $(0.09); non-GAAP net income per diluted share was $0.26.Operating cash flow was $114.4 million, with free cash flow of $96.4 million.Cash, cash equivalents, restricted cash, and marketable securities were $1.9 billion as of December 31, 2022.Fiscal Year 2022 Financial Highlights: +Revenue was $1.68 billion, an increase of 63% year-over-year.GAAP operating loss was $(58.7) million; GAAP operating margin was (4)%.Non-GAAP operating income was $326.3 million; non-GAAP operating margin was 19%.GAAP net loss per diluted share was $(0.16); non-GAAP net income per diluted share was $0.98.Operating cash flow was $418.4 million, with free cash flow of $353.5 million.Fourth Quarter & Recent Business Highlights: +As of December 31, 2022, we had 317 customers with ARR of $1 million or more, an increase of 47% from 216 as of December 31, 2021. As of December 31, 2022, we had about 2,780 customers with ARR of $100,000 or more, an increase of 38% from 2,010 as of December 31, 2021.Datadog was named a Leader in the "Forrester Wave: Artificial Intelligence for IT Operations, Q4 2022." Forrester research identifies, evaluates and scores the 11 top vendors offering products with AIOps capabilities.Announced a new integration with Amazon Security Lake. The integration, announced during AWS re:Invent, makes it easy for Amazon Security Lake users to send cloud security logs to Datadog in a standard format.Launched Universal Service Monitoring for general availability. Universal Service Monitoring automatically detects all microservices across an organization's environment and provides instant visibility into their health and dependencies — all without any code changes.First Quarter and Fiscal Year 2023 Outlook: +Based on information as of today, February 16, 2023, Datadog is providing the following guidance: +First Quarter 2023 Outlook:Revenue between $466 million and $470 million.Non-GAAP operating income between $68 million and $72 million.Non-GAAP net income per share between $0.22 and $0.24, assuming approximately 348 million weighted average diluted shares outstanding.Fiscal Year 2023 Outlook:Revenue between $2.07 billion and $2.09 billion.Non-GAAP operating income between $300 million and $320 million.Non-GAAP net income per share between $1.02 and $1.09, assuming approximately 351 million weighted average diluted shares outstanding.Datadog has not reconciled its expectations as to non-GAAP operating income, or as to non-GAAP net income per share, to their most directly comparable GAAP measure as a result of uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation and employer payroll taxes on equity incentive plans. Accordingly, reconciliation is not available without unreasonable effort, although it is important to note that these factors could be material to Datadog's results computed in accordance with GAAP. +Conference Call Details: +What: Datadog financial results for the fourth quarter and fiscal year 2022 and outlook for the first quarter and the fiscal year 2023When: February 16, 2023 at 8:00 A.M. Eastern Time (5:00 A.M. Pacific Time)Dial in: To access the call in the U.S., please register here. Callers are encouraged to dial into the call 10 to 15 minutes prior to the start to prevent any delay in joining.Webcast: https://investors.datadoghq.com (live and replay)Replay: A replay of the call will be archived on the investor relations websiteAbout Datadog +Datadog is the observability and security platform for cloud applications. Our SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management real-user monitoring and many other capabilities to provide unified, real-time observability and security for our customers' entire technology stack. Datadog is used by organizations of all sizes and across a wide range of industries to enable digital transformation and cloud migration, drive collaboration among development, operations, security and business teams, accelerate time to market for applications, reduce time to problem resolution, secure applications and infrastructure, understand user behavior and track key business metrics. +Forward-Looking Statements +This press release and the earnings call referencing this press release contain "forward-looking" statements, as that term is defined under the federal securities laws, including but not limited to statements regarding Datadog's strategy, product and platform capabilities, the benefits and expected closing of acquisitions, growth in and ability to capitalize on long-term market opportunities including the pace and scope of cloud migration and digital transformation, gross margins and operating margins including with respect to sales and marketing, research and development expenses, investments and capital expenditures as well as the impact of increased office activity and marketing, and Datadog's future financial performance, including its outlook for the first quarter and fiscal year 2023 and related notes and assumptions. These forward-looking statements are based on Datadog's current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause Datadog's actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. +The risks and uncertainties referred to above include, but are not limited to (1) our recent rapid growth may not be indicative of our future growth; (2) our history of operating losses; (3) our limited operating history; (4) our business depends on our existing customers purchasing additional subscriptions and products from us and renewing their subscriptions; (5) our ability to attract new customers; (6) our ability to effectively develop and expand our sales and marketing capabilities; (7) risk of a security breach; (8) risk of interruptions or performance problems associated with our products and platform capabilities; (9) our ability to adapt and respond to rapidly changing technology or customer needs; (10) the competitive markets in which we participate; (11) risks associated with successfully managing our growth; and (12) general market, political, economic, and business conditions including concerns about reduced economic growth and associated decreases in information technology spending as well as the impact of the COVID-19 pandemic. These risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission (SEC), including in the section entitled "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the SEC on November 4, 2022. Additional information will be made available in our Annual Report on Form 10-K for the year ended December 31, 2022 and other filings and reports that we may file from time to time with the SEC. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. We disclaim any obligation to update forward-looking statements. +About Non-GAAP Financial Measures +Datadog discloses the following non-GAAP financial measures in this release and the earnings call referencing this press release: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses (research and development, sales and marketing and general and administrative), non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per diluted share, non-GAAP net income (loss) per basic share, and free cash flow. Datadog uses each of these non-GAAP financial measures internally to understand and compare operating results across accounting periods, for internal budgeting and forecasting purposes, for short- and long-term operating plans, and to evaluate Datadog's financial performance. Datadog believes they are useful to investors, as a supplement to GAAP measures, in evaluating its operational performance, as further discussed below. Datadog's non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to non-recurring and unusual items. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies and exclude expenses that may have a material impact on Datadog's reported financial results. +Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. A reconciliation of the historical non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release. +Datadog defines non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses (research and development, sales and marketing and general and administrative), non-GAAP operating income (loss), non-GAAP operating margin and non-GAAP net income (loss) as the respective GAAP balances, adjusted for, as applicable: (1) stock-based compensation expense; (2) the amortization of acquired intangibles; (3) employer payroll taxes on employee stock transactions; and (4) amortization of issuance costs. Datadog defines free cash flow as net cash provided by operating activities, minus capital expenditures and minus capitalized software development costs, if any. Investors are encouraged to review the reconciliation of these historical non-GAAP financial measures to their most directly comparable GAAP financial measures. +Management believes these non-GAAP financial measures are useful to investors and others in assessing Datadog's operating performance due to the following factors: +Stock-based compensation. Datadog utilizes stock-based compensation to attract and retain employees. It is principally aimed at aligning their interests with those of its stockholders and at long-term retention, rather than to address operational performance for any particular period. As a result, stock-based compensation expenses vary for reasons that are generally unrelated to financial and operational performance in any particular period. +Amortization of acquired intangibles. Datadog views amortization of acquired intangible assets as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are evaluated for impairment regularly, amortization of the cost of acquired intangibles is an expense that is not typically affected by operations during any particular period. +Employer payroll taxes on employee stock transactions. Datadog excludes employer payroll tax expense on equity incentive plans as these expenses are tied to the exercise or vesting of underlying equity awards and the price of Datadog's common stock at the time of vesting or exercise. As a result, these taxes may vary in any particular period independent of the financial and operating performance of Datadog's business. +Amortization of issuance costs. In June 2020, Datadog issued $747.5 million of convertible senior notes due 2025, which bear interest at an annual fixed rate of 0.125%. Debt issuance costs, which reduce the carrying value of the convertible debt instrument, are amortized as interest expense over the term. The expense for the amortization of debt issuance costs is a non-cash item, and we believe the exclusion of this interest expense will provide for a more useful comparison of our operational performance in different periods. +Additionally, Datadog's management believes that the non-GAAP financial measure free cash flow is meaningful to investors because it is a measure of liquidity that provides useful information in understanding and evaluating the strength of our liquidity and future ability to generate cash that can be used for strategic opportunities or investing in our business. Free cash flow represents net cash provided by operating activities, reduced by capital expenditures and capitalized software development costs, if any. The reduction of capital expenditures and amounts capitalized for software development facilitates comparisons of Datadog's liquidity on a period-to-period basis and excludes items that management does not consider to be indicative of our liquidity. +Operating Metrics +Datadog's number of customers with ARR of $100,000 or more and number of customers with ARR of $1 million or more are based on the ARR of each customer, as of the last month of the quarter. +We define the number of customers as the number of accounts with a unique account identifier for which we have an active subscription in the period indicated. Users of our free trials or tier are not included in our customer count. A single organization with multiple divisions, segments or subsidiaries is generally counted as a single customer. However, in some cases where they have separate billing terms, we may count separate divisions, segments or subsidiaries as multiple customers. +We define ARR as the annualized revenue run-rate of subscription agreements from all customers at a point in time. We calculate ARR by taking the monthly recurring revenue, or MRR, and multiplying it by 12. MRR for each month is calculated by aggregating, for all customers during that month, monthly revenue from committed contractual amounts, additional usage, usage from subscriptions for a committed contractual amount of usage that is delivered as used, and monthly subscriptions. We updated the definition of MRR as of the quarter ended September 30, 2021 to capture usage from subscriptions with committed contractual amounts and applied this change retrospectively. ARR and MRR should be viewed independently of revenue, and do not represent our revenue under GAAP on a monthly or annualized basis, as they are operating metrics that can be impacted by contract start and end dates and renewal rates. ARR and MRR are not intended to be replacements or forecasts of revenue. +  +Datadog, Inc.Condensed Consolidated Statements of Operations(In thousands, except per share data; unaudited) +Three Months Ended December 31, +Year EndedDecember 31, +2022 +2021 +2022 +2021 +Revenue +$       469,399 +326,198 +$    1,675,100 +$    1,028,784 +Cost of revenue (1)(2)(3) +96,757 +67,149 +346,743 +234,245 +Gross profit +372,642 +259,049 +1,328,357 +794,539 +Operating expenses: +Research and development (1)(3) +218,656 +133,049 +752,351 +419,769 +Sales and marketing (1)(2)(3) +149,359 +88,905 +495,288 +299,497 +General and administrative (1)(3) +39,255 +28,640 +139,413 +94,429 +Total operating expenses +407,270 +250,594 +1,387,052 +813,695 +Operating (loss) income +(34,628) +8,455 +(58,695) +(19,156) +Other income: +Interest expense (4) +(3,019) +(5,604) +(16,535) +(21,052) +Interest income and other income, net +11,793 +5,681 +37,160 +21,786 +Other income, net +8,774 +77 +20,625 +734 +(Loss) income before provision for income taxes +(25,854) +8,532 +(38,070) +(18,422) +Provision for income taxes +(3,180) +(1,363) +(12,090) +(2,323) +Net (loss) income +$       (29,034) +7,169 +$       (50,160) +$       (20,745) +Net (loss) income per share - basic +$           (0.09) +$             0.02 +$           (0.16) +$           (0.07) +Net (loss) income per share - diluted +$           (0.09) +$             0.02 +$           (0.16) +$           (0.07) +Weighted average shares used in calculating net (loss) income per share: +Basic +317,348 +311,817 +315,410 +309,048 +Diluted +317,348 +345,877 +315,410 +309,048 +(1) Includes stock-based compensation expense as follows: +Cost of revenue +$           3,654 +$           1,608 +$         10,827 +$           4,565 +Research and development +73,794 +36,995 +237,120 +101,942 +Sales and marketing +23,405 +11,680 +76,735 +35,035 +General and administrative +11,656 +6,083 +38,472 +22,195 +Total +$       112,509 +$         56,366 +$       363,154 +$       163,737 +(2) Includes amortization of acquired intangibles as follows: +Cost of revenue +$           1,955 +$           1,218 +$           6,750 +$           3,792 +Sales and marketing +208 +208 +825 +600 +Total +$           2,163 +$           1,426 +$           7,575 +$           4,392 +(3) Includes employer payroll taxes on employee stock transactions as follows: +Cost of revenue +$                47 +$                92 +$              266 +$              345 +Research and development +2,459 +2,748 +10,384 +8,143 +Sales and marketing +432 +1,119 +2,766 +6,349 +General and administrative +111 +410 +830 +1,248 +Total +$           3,049 +$           4,369 +$         14,246 +$         16,085 +(4) Includes amortization of issuance costs as follows: +Interest expense +$              844 +$              839 +$           3,369 +$           3,349 +Total +$              844 +$              839 +$           3,369 +$           3,349 +  +Datadog, Inc.Condensed Consolidated Balance Sheets(In thousands; unaudited) +December 31,2022 +December 31,2021 +ASSETS +CURRENT ASSETS: +Cash and cash equivalents +$                338,985 +$                270,973 +Marketable securities +1,545,341 +1,283,473 +Accounts receivable, net of allowance for credit losses of $5,626 and $2,997 as of December 31, 2022 and 2021, respectively +399,551 +268,824 +Deferred contract costs, current +33,054 +23,235 +Prepaid expenses and other current assets +27,303 +24,443 +Total current assets +2,344,234 +1,870,948 +Property and equipment, net +125,346 +75,152 +Operating lease assets +87,629 +61,355 +Goodwill +348,277 +292,176 +Intangible assets, net +16,365 +15,704 +Deferred contract costs, non-current +55,338 +42,062 +Restricted cash +3,303 +3,490 +Other assets +24,360 +19,907 +TOTAL ASSETS +$             3,004,852 +$             2,380,794 +LIABILITIES AND STOCKHOLDERS' EQUITY +CURRENT LIABILITIES: +Accounts payable +$                  23,474 +$                  25,270 +Accrued expenses and other current liabilities +171,158 +111,284 +Operating lease liabilities, current +22,092 +20,157 +Deferred revenue, current +543,024 +371,985 +Total current liabilities +759,748 +528,696 +Operating lease liabilities, non-current +76,582 +52,106 +Convertible senior notes, net +738,847 +735,482 +Deferred revenue, non-current +12,944 +13,896 +Other liabilities +6,226 +9,411 +Total liabilities +1,594,347 +1,339,591 +STOCKHOLDERS' EQUITY: +Common stock +3 +3 +Additional paid-in capital +1,625,190 +1,197,136 +Accumulated other comprehensive loss +(12,422) +(3,830) +Accumulated deficit +(202,266) +(152,106) +Total stockholders' equity +1,410,505 +1,041,203 +TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY +$             3,004,852 +$             2,380,794 +  +Datadog, Inc.Condensed Consolidated Statements of Cash Flow(In thousands; unaudited) +Three Months EndedDecember 31, +Year EndedDecember 31, +2022 +2021 +2022 +2021 +CASH FLOWS FROM OPERATING ACTIVITIES: +Net (loss) income +$   (29,034) +$      7,169 +$   (50,160) +$   (20,745) +Adjustments to reconcile net (loss) income to net cash provided by operating activities: +Depreciation and amortization +9,804 +6,876 +34,629 +22,938 +Amortization of discounts or premiums on marketable securities +(2,491) +4,407 +4,726 +16,236 +Amortization of issuance costs +844 +839 +3,369 +3,349 +Amortization of deferred contract costs +8,062 +5,309 +28,003 +17,866 +Stock-based compensation, net of amounts capitalized +112,509 +56,366 +363,154 +163,737 +Non-cash lease expense +6,180 +4,596 +21,416 +17,201 +Allowance for credit losses on accounts receivable +1,286 +1,085 +5,215 +2,311 +Loss on disposal of property and equipment +510 +16 +1,662 +274 +Changes in operating assets and liabilities: +Accounts receivable, net +(51,963) +(45,232) +(135,701) +(107,112) +Deferred contract costs +(16,427) +(15,165) +(51,098) +(42,775) +Prepaid expenses and other current assets +4,715 +204 +(6,565) +(737) +Other assets +(3,259) +(783) +(5,179) +(2,627) +Accounts payable +(3,769) +(9,354) +(1,286) +3,078 +Accrued expenses and other liabilities +10,228 +18,044 +37,578 +37,270 +Deferred revenue +67,246 +81,416 +168,644 +176,281 +Net cash provided by operating activities +114,441 +115,793 +418,407 +286,545 +CASH FLOWS FROM INVESTING ACTIVITIES: +Purchases of marketable securities +(345,985) +(228,107) +(1,413,717) +(1,125,519) +Maturities of marketable securities +280,531 +110,868 +1,137,724 +1,046,560 +Proceeds from sale of marketable securities +— +6,617 +2,090 +67,749 +Purchases of property and equipment +(10,054) +(2,405) +(35,261) +(9,956) +Capitalized software development costs +(8,036) +(6,705) +(29,628) +(26,069) +Cash paid for acquisition of businesses; net of cash acquired +(5,576) +(26,303) +(45,878) +(226,505) +Net cash used in investing activities +(89,120) +(146,035) +(384,670) +(273,740) +CASH FLOWS FROM FINANCING ACTIVITIES: +Proceeds from exercise of stock options +1,734 +4,256 +10,001 +14,907 +Proceeds for issuance of common stock under the employee stock purchase plan +12,468 +10,484 +26,025 +20,278 +Employee payroll taxes paid related to net share settlement under the employee stock purchase plan +— +— +— +(245) +Repayments of convertible senior notes +— +— +(3) +— +Net cash provided by financing activities +14,202 +14,740 +36,023 +34,940 +Effect of exchange rate changes on cash, cash equivalents and restricted cash +4,931 +(573) +(1,935) +(1,993) +NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH +44,454 +(16,075) +67,825 +45,752 +CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period +297,834 +290,538 +274,463 +228,711 +CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of period +$   342,288 +$   274,463 +$   342,288 +$   274,463 +RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS TO THE AMOUNTS SHOWN IN THE STATEMENTS OF CASH FLOWS ABOVE: +Cash and cash equivalents +$   338,985 +$   270,973 +$   338,985 +$   270,973 +Restricted cash +3,303 +3,490 +3,303 +3,490 +Total cash, cash equivalents and restricted cash +$   342,288 +$   274,463 +$   342,288 +$   274,463 +  +Datadog, Inc.Reconciliation from GAAP to Non-GAAP Results(In thousands, except per share data; unaudited) +Three Months EndedDecember 31, +Year EndedDecember 31, +2022 +2021 +2022 +2021 +Reconciliation of gross profit and gross margin +GAAP gross profit +$  372,642 +$  259,049 +$  1,328,357 +$  794,539 +Plus: Stock-based compensation expense +3,654 +1,608 +10,827 +4,565 +Plus: Amortization of acquired intangibles +1,955 +1,218 +6,750 +3,792 +Plus: Employer payroll taxes on employee stock transactions +47 +92 +266 +345 +Non-GAAP gross profit +$  378,298 +$  261,967 +$  1,346,200 +$  803,241 +GAAP gross margin +79 % +79 % +79 % +77 % +Non-GAAP gross margin +81 % +80 % +80 % +78 % +Reconciliation of operating expenses +GAAP research and development +$  218,656 +$  133,049 +$  752,351 +$  419,769 +Less: Stock-based compensation expense +(73,794) +(36,995) +(237,120) +(101,942) +Less: Employer payroll taxes on employee stock transactions +(2,459) +(2,748) +(10,384) +(8,143) +Non-GAAP research and development +$  142,403 +$    93,306 +$  504,847 +$  309,684 +GAAP sales and marketing +$  149,359 +$    88,905 +$  495,288 +$  299,497 +Less: Stock-based compensation expense +(23,405) +(11,680) +(76,735) +(35,035) +Less: Amortization of acquired intangibles +(208) +(208) +(825) +(600) +Less: Employer payroll taxes on employee stock transactions +(432) +(1,119) +(2,766) +(6,349) +Non-GAAP sales and marketing +$  125,314 +$    75,898 +$  414,962 +$  257,513 +GAAP general and administrative +$    39,255 +$    28,640 +$  139,413 +$    94,429 +Less: Stock-based compensation expense +(11,656) +(6,083) +(38,472) +(22,195) +Less: Employer payroll taxes on employee stock transactions +(111) +(410) +(830) +(1,248) +Non-GAAP general and administrative +$    27,488 +$    22,147 +$  100,111 +$    70,986 +Reconciliation of operating (loss) income and operating margin +GAAP operating (loss) income +$  (34,628) +$      8,455 +$  (58,695) +$  (19,156) +Plus: Stock-based compensation expense +112,509 +56,366 +363,154 +163,737 +Plus: Amortization of acquired intangibles +2,163 +1,426 +7,575 +4,392 +Plus: Employer payroll taxes on employee stock transactions +3,049 +4,369 +14,246 +16,085 +Non-GAAP operating income +$    83,093 +$    70,616 +$  326,280 +$  165,058 +GAAP operating margin +(7) % +3 % +(4) % +(2) % +Non-GAAP operating margin +18 % +22 % +19 % +16 % +Reconciliation of net (loss) income +GAAP net (loss) income +$  (29,034) +$      7,169 +$  (50,160) +$  (20,745) +Plus: Stock-based compensation expense +112,509 +56,366 +363,154 +163,737 +Plus: Amortization of acquired intangibles +2,163 +1,426 +7,575 +4,392 +Plus: Employer payroll taxes on employee stock transactions +3,049 +4,369 +14,246 +16,085 +Plus: Amortization of issuance costs +844 +839 +3,369 +3,349 +Non-GAAP net income +$    89,531 +$    70,169 +$  338,184 +$  166,818 +Net income per share - basic +$        0.28 +$        0.23 +$        1.07 +$        0.54 +Net income per share - diluted +$        0.26 +$        0.20 +$        0.98 +$        0.48 +Shares used in non-GAAP net income per share calculations: +Basic +317,348 +311,817 +315,410 +309,048 +Diluted +345,009 +345,877 +345,727 +343,997 +  +Datadog, Inc.Reconciliation of GAAP Cash Flow from Operating Activities to Free Cash Flow(In thousands; unaudited) +Three Months EndedDecember 31, +Year EndedDecember 31, +2022 +2021 +2022 +2021 +Net cash provided by operating activities +$       114,441 +$       115,793 +$       418,407 +$       286,545 +Less: Purchases of property and equipment +(10,054) +(2,405) +(35,261) +(9,956) +Less: Capitalized software development costs +(8,036) +(6,705) +(29,628) +(26,069) +Free cash flow +$         96,351 +$       106,683 +$       353,518 +$       250,520 +Free cash flow margin +21 % +33 % +21 % +24 % +  +Contact InformationYuka BroderickDatadog Investor RelationsIR@datadoghq.com +Dan HaggertyDatadog Public RelationsPress@datadoghq.com +Datadog is a registered trademark of Datadog, Inc. +All product and company names herein may be trademarks of their registered owners. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/datadog-announces-fourth-quarter-and-fiscal-year-2022-financial-results-301748267.html +SOURCE Datadog, Inc. + + diff --git a/news/DDOG/2023.02.21/Datadog : DDOG 4Q22 Transcript.txt b/news/DDOG/2023.02.21/Datadog : DDOG 4Q22 Transcript.txt new file mode 100644 index 0000000000000000000000000000000000000000..4f168e73d918484d7649874ae6a60f96cfaaace1 --- /dev/null +++ b/news/DDOG/2023.02.21/Datadog : DDOG 4Q22 Transcript.txt @@ -0,0 +1,392 @@ + + + + Datadog, Inc. NasdaqGS:DDOG + + + FQ4 2022 Earnings Call Transcripts + + + Thursday, February 16, 2023 1:00 PM GMT + + + + + + COPYRIGHT © 2023 S&P Global Market Intelligence, a division of S&P Global Inc. All rights reserved + + + + + 1 + + + + + + + + + + spglobal.com/marketintelligence + + + + + Contents + + + Table of Contents + + + + + + Call Participants + + + + + 3 + + + + + + + Presentation + + + + + 4 + + + + + + + Question and Answer + + + + + 9 + + + + + + + + + COPYRIGHT © 2023 S&P Global Market Intelligence, a division of S&P Global Inc. All rights reserved + + + + + 2 + + + + + + + + + + spglobal.com/marketintelligence + + + + + + DATADOG, INC. FQ4 2022 EARNINGS CALL FEB 16, 2023 + + + Call Participants + + + + + + EXECUTIVES + + + David M. Obstler + + + Chief Financial Officer + + + Olivier Pomel + + + Co-Founder, CEO & Director + + + Yuka Broderick + + + Investor Relations + + + ANALYSTS + + + Aleksandr J. Zukin + + + Wolfe Research, LLC + + + Andrew James Nowinski + + + Wells Fargo Securities, LLC, Research Division + + + Brad Robert Reback + + + Stifel, Nicolaus & Company, + + + Incorporated, Research Division + + + Frederick Lee + + + Crédit Suisse AG, Research Division + + + Frederick Christian Havemeyer + + + Macquarie Research + + + Kamil Mielczarek + + + William Blair & Company L.L.C., Research Division + + + Koji Ikeda + + + BofA Securities, Research Division + + + Mark Ronald Murphy + + + JPMorgan Chase & Co, Research Division + + + Matthew George Hedberg + + + RBC Capital Markets, Research + + + Division + + + + + Sanjit Kumar Singh + + + Morgan Stanley, Research Division + + + Sterling Auty + + + + + + + + + Copyright © 2023 S&P Global Market Intelligence, a division of S&P Global Inc. All Rights reserved. + + + + + + + + + spglobal.com/marketintelligence + + + + + 3 + + + + + + + + + DATADOG, INC. FQ4 2022 EARNINGS CALL FEB 16, 2023 + + + Presentation + + + Operator + + + Good day, and thank you for standing by. Welcome to the Fourth Quarter Datadog Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. + + + I would now like to hand the conference over to your speaker today, Yuka Broderick, Vice President of Investor Relations. Please go ahead. + + + Yuka Broderick + + + Investor Relations + + + Thank you, Katherine. Good morning, and thank you for joining us to review Datadog's fourth quarter and fiscal year 2022 financial results, which we announced in our press release issued this morning. Joining me on the call today are Olivier Pomel, Datadog's Co- Founder and CEO; and David Obstler, Datadog's CFO. + + + During this call, we will make forward-looking statements, including statements related to our future financial performance, our outlook for the first quarter and fiscal year 2023 and related notes and assumptions, our gross margins and operating margins, our strategy, our product capabilities and our ability to capitalize on market opportunities. The words anticipate, believe, continue, estimate, expect, intend, will and similar expressions are intended to identify forward-looking statements or similar indications of future expectations. These statements reflect our views only as of today and are subject to a variety of risks and uncertainties that could cause actual results to differ materially. + + + For a discussion of the material risks and other important factors that could affect our actual results, please refer to our Form 10-Q for the quarter ended September 30, 2022. Additional information will be made available in our upcoming Form 10-K for the fiscal year ended December 31, 2022, and other filings with the SEC. This information is also available on the Investor Relations section of our website, along with a replay of this call. We will also discuss non-GAAP financial measures, which are reconciled to their most directly comparable GAAP financial measures in the tables in our earnings release, which is available at investors.datadoghq.com. + + + With that, I'd like to turn the call over to Olivier. + + + Olivier Pomel + + + Co-Founder, CEO & Director + + + Thanks, Yuka, and thank you all for joining us this morning. We had a solid Q4 to end a strong fiscal year 2022. We delivered significant new innovations for our customers, we saw increasing adoption of our products and we attracted thousands of new customers to our platform. Meanwhile, we delivered strong revenue growth, margins, non-GAAP operating profit, and we generated more than $350 million in free cash flow. + + + Let me start with a review of our Q4 financial performance. In Q4, revenue was $469 million, an increase of 44% year-over-year, 8% quarter-over-quarter and above the high end of our guidance range. We had about 23,200 customers, up from about 18,800 last year. We ended the quarter with about 2,780 customers with ARR of $100,000 or more, up from about 2,010 last year. These customers generated about 85% of our ARR. And we had 317 customers with ARR of $1 million or more compared to the 216 we had at the end of last year. We generated free cash flow of $96 million with a free cash flow margin of 21%. And our dollar-based net retention rate continued to be over 130% as customers increased their usage and adopted more products. + + + Our platform strategy continues to resonate in the market. As of the end of Q4, 81% of customers were using 2 or more products, up from 78% a year ago; 42% of customers were using 4 or more products, up from 33% a year ago; and 18% of our customers were using 6 or more products, up from 10% last year. + + + Now moving on to this quarter's business drivers. Overall, we observed slower usage growth with existing customers while continuing to scale our new logo acquisition and new product cross-sells. Starting with usage. Usage growth of existing customers in Q4 was overall slightly lower than what we observed in Q2 and Q3, which we attribute, first, to a continuation of cloud cost optimization by our larger spending customers; and second, to a seasonal annual slowdown in the second half of December that was more pronounced than in previous years. As in Q2 and Q3, we continue to see more optimization from customers as a larger cloud footprint, while our smaller spending customers are exhibiting higher growth. + + + + + + Copyright © 2023 S&P Global Market Intelligence, a division of S&P Global Inc. All Rights reserved. + + + + + + + + + spglobal.com/marketintelligence + + + + + 4 + + + + + + + + DATADOG, INC. FQ4 2022 EARNINGS CALL FEB 16, 2023 + + + From a product perspective, we didn't see meaningful differences among our major products as they all experienced solid growth, albeit decelerating on a year-over-year basis. In contrast to this deceleration in usage growth for existing customers, we continue to execute on new logo lands and multiproduct adoption, and we also continue to see stable, very strong growth retention trends. + + + First, we had our strongest new logo quarter to date, with a record level of new logo ARR bookings. Second, our sales pipeline remains healthy as our pattern of new logo and cross-sell is scaling above the levels of the past years, and we see demand growing along with our investments in go-to market. + + + I'd also like to point out that although we have made steady progress, we still see significant opportunities to grow our penetration in total spend amounts with larger customers. As a data point, as of January 2023, 37% of the Fortune 500 are Datadog customers, up from 30% last year. For these customers, the median Datadog ARR is in the hundreds of thousands of dollars. This leaves a very large opportunity for us to go with these customers as they continue to move towards the cloud and more of them develop. + + + We are also pleased with the initial take-up of some of our newest products, including Cloud Cost Management, for which we already added a mid-6-figure commitment last month from a global fast food chain. And finally, churn has remained low, with gross revenue retention steady in the mid- to high 90s. We believe this high retention number is indicative of the business criticality of Datadog for our customers. + + + Now let's move on to R&D. During the quarter, we released our latest product to general availability, Universal Service Monitoring, which detects all micro services across an organization's environment and provides instant visibility into their health and dependencies, all without any code changes. Universal Service Monitoring bridges our existing monitoring and application performance monitoring capabilities and it involves end-to-end observability with minimal deployment friction. + + + Now let's take a moment to review the R&D team's accomplishments in 2022. We ended the year with 17 generally available products, up from 13 at the end of 2021, and we greatly expanded the capabilities of our existing products. Overall, in 2022, we have meaningfully broadened our observability capabilities and pushed forward in making each product best of breed. Meanwhile, we have made meaningful progress but remain in early days in the new areas of cloud security and developer experience. + + + In observability, we continue to expand our end-to-end unified platform. We now have more than 600 integrations, including all the latest products on AWS, GCP and Azure. We launched new AI capabilities, such as Watchdog Log Anomaly Detection to help customers separate signal from noise in data and Watchdog Root Cause Analysis to identify the root cause of issues and quantify their impact in customers. + + + We launched Cloud Cost Management to help customers take control of their infrastructure costs. We announced Service Catalog to manage service ownership at scale. We made Observability Pipelines generally available, enabling customers to collect and transform data from any source to any destination, all at petabyte scale. We launched Audit Trail to help customers achieve their compliance and governance goals. We extended Sensitive Data Scanner beyond logs to inspect APM and REM data flows. And we now collect data from SNMP Traps to provide greater visibility into physical network equipment. + + + In cloud security, we kept building out our platform. We launched Cloud Security Management, our rich context-aware CNAPP platform. We launched Application Security Management, building on our acquisition of Sqreen in 2021, and we announced the beta of Native Protection to block malicious factors directly within the data platform. + + + In developer experience, we are expanding on our CI Visibility product. We introduced continuous testing to bring efficient and reliable testing within CI/CD pipelines, and we launched the beta of Intelligence Test Runners, which significantly reduces the time and cost of running tests. + + + And last but not least, we delivered a number of platform-wide initiatives. We achieved FedRAMP moderate authorization and have since landed a number of government agencies as customers. Our customers today can also use CoScreen for collaboration, incident response, preprogramming and debugging less than a year after the acquisition, and we continue to expand on the HIPAA and PCI compliance of our products. As you can tell, we've been busy, and I want to thank the R&D team for a very productive year. + + + Looking ahead to 2023, our teams are continuing to push forward as beta products from 2022 include data streams monitoring, workflow automation, event correlation, heat maps, dynamic instrumentation, workload security profiling, resource catalog and native protection, among others. We also continue to integrate our 2022 acquisitions, CoScreen, Hdiv, Seekret and Cloudcraft into the Datadog platform, and we are excited for their potential. In summary, we're looking forward to delivering many more capabilities to help our customers in 2023. + + + + + + Copyright © 2023 S&P Global Market Intelligence, a division of S&P Global Inc. All Rights reserved. + + + + + + + + + spglobal.com/marketintelligence + + + + + 5 + + + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Datadog Inc. published this content on 21 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 February 2023 15:00:01 UTC. + + diff --git a/news/DLTR/2023.01.02/Robust expansion for discount retailers.txt b/news/DLTR/2023.01.02/Robust expansion for discount retailers.txt new file mode 100644 index 0000000000000000000000000000000000000000..a31711af664e6a2271c3f15a71f64fdf961d6154 --- /dev/null +++ b/news/DLTR/2023.01.02/Robust expansion for discount retailers.txt @@ -0,0 +1 @@ +Dollar General Corp. and Dollar Tree Inc. expect to have 1,300 more stores open by the end of their current fiscal year, which ends in January, and Five Below Inc. and TJX Cos. will each be operating 100 more stores by year's end.The discount retail expansion comes at a time when consumers are reducing spend and dealing with increasing inflation, especially with grocery purchases, according to a Wall Street Journal report.Copyright © 2023 Networld Media. All rights reserved., source Industry News \ No newline at end of file diff --git a/news/DLTR/2023.01.24/Dollar Tree CEO Witynski to step down.txt b/news/DLTR/2023.01.24/Dollar Tree CEO Witynski to step down.txt new file mode 100644 index 0000000000000000000000000000000000000000..73977be185ef8121343d45cc25cc7c6ea69c9880 --- /dev/null +++ b/news/DLTR/2023.01.24/Dollar Tree CEO Witynski to step down.txt @@ -0,0 +1 @@ +The company said Executive Chairman Rick Dreiling will take on the CEO's position, effective Jan. 29. (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini Ganguli) \ No newline at end of file diff --git a/news/DLTR/2023.01.24/Dollar Tree Executive Chairman Dreiling to replace CEO Witynski.txt b/news/DLTR/2023.01.24/Dollar Tree Executive Chairman Dreiling to replace CEO Witynski.txt new file mode 100644 index 0000000000000000000000000000000000000000..adafb6d71f4474a0453e473315c30ee1914afb44 --- /dev/null +++ b/news/DLTR/2023.01.24/Dollar Tree Executive Chairman Dreiling to replace CEO Witynski.txt @@ -0,0 +1,26 @@ +Jan 24 (Reuters) - Dollar Tree Inc said on +Tuesday Executive Chairman Richard Dreiling will replace Chief +Executive Officer Mike Witynski, nearly a year after agreeing to +revamp its board in a settlement with activist investor Mantle +Ridge.Dreiling, 69, who has previously served as chairman and CEO +of rival Dollar General, was appointed to Dollar Tree's +board as part of the settlement in March 2022. He will take on +the role of top boss at the company effective Jan. 29.In late 2021, Mantle Ridge pushed for a review of Dollar +Tree's business strategy and Dreiling as the top boss at the +discount retailer along with an overhaul of its board.Telsey Advisory Group analyst Joseph Feldman said investors +would like to see Dreiling have a more "day-to-day hands on role +at Dollar Tree" in hopes of improving the performance of the +business, given his history of success at Dollar General.Last year, Dollar Tree lowered its annual profit forecast +for the second time as price cuts to attract inflation-wary +shoppers pressured its margins.But the price cuts at Family Dollar, rolled out in the +second quarter, helped the banner post the strongest quarterly +same-store sales jump since 2020 and grow traffic for the first +time in three years.With Dreiling at the helm, Feldman expects continued +improvement in the Family Dollar business.In June 2022, months after the settlement, Dollar Tree +announced the exit of finance chief Kevin Wampler and some other +top executives.Jeffrey Davis was named successor to Wampler, who is with +the company as an adviser till April 2023.Witynski was appointed as the CEO in July 2020 to succeed +Gary Philbin, who retired after serving in the role for nearly +three years.Shares of Dollar Tree rose about 1% in early trade. +(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by +Shinjini Ganguli) \ No newline at end of file diff --git a/news/DLTR/2023.01.24/Rick Dreiling to Assume Role of Chairman and Chief Executive Officer of Dollar Tree, In...txt b/news/DLTR/2023.01.24/Rick Dreiling to Assume Role of Chairman and Chief Executive Officer of Dollar Tree, In...txt new file mode 100644 index 0000000000000000000000000000000000000000..5569d3c796770a4f0f52240296fbc9a420e9e047 --- /dev/null +++ b/news/DLTR/2023.01.24/Rick Dreiling to Assume Role of Chairman and Chief Executive Officer of Dollar Tree, In...txt @@ -0,0 +1,19 @@ + +Dollar Tree, Inc. (NASDAQ: DLTR), today announced that Mike Witynski, who has been in leadership positions at Dollar Tree since 2010 and served as CEO since 2020, is stepping down from the Board and leaving the Company. Executive Chairman Rick Dreiling will expand his role to assume the position of Chief Executive Officer, effective January 29. + +“The opportunity to work with the talented and dedicated team at Dollar Tree has been the most rewarding of my career. During this especially dynamic period, we made the historic and consequential move to ‘break the dollar,’ and also rose to the historic opportunity to retool the Company’s leadership ranks to face the challenges ahead with fresh eyes. As I depart, I have full confidence that this team will continue to move the Company forward through the years ahead,” said Mr. Witynski. + +Of the transition Mr. Dreiling said, “We greatly appreciate Mike’s contribution over his career with Dollar Tree, which included the acquisition and integration of Family Dollar, navigating COVID, and contributing to the company’s current transformation strategy. Dollar Tree will continue to thrive, grow and win in the marketplace in this next chapter, and I’m thrilled for the opportunity to work with the extraordinary Dollar Tree team to advance our focus on delighting customers, associates and other key stakeholders.” + +Ned Kelly, Lead Independent Director of the Dollar Tree Board, said, “We are grateful to Mike for his contributions and leadership during this unusually dynamic time and wish him well. Rick is energized and excited about the opportunities at Dollar Tree. His decades of retail experience will serve the Company well over the years ahead.” + +Dreiling has a demonstrated track record of creating exceptional shareholder value with more than 50 years of retail experience at all operating levels, including expanding the footprint and offerings of several respected retailers and leading the successful transformation of multiple retailers. + +The Company’s operations continue to track consistent with its expectations, and the leadership team will report earnings on Wednesday, March 1. + +About Dollar Tree, Inc. + +Dollar Tree, a Fortune 200 Company, operated 16,293 stores across 48 states and five Canadian provinces as of October 29, 2022. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada. To learn more about the Company, visit www.DollarTree.com. + +A WARNING ABOUT FORWARD-LOOKING STATEMENTS: Our press release contains "forward-looking statements" as that term is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they address future events, developments or results and do not relate strictly to historical facts. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements include, without limitation, statements preceded by, followed by or including words such as: “believe”, “anticipate”, “expect”, “intend”, “plan”, “view”, “target” or “estimate”, “may”, “will”, “should”, “predict”, “possible”, “potential”, “continue”, “strategy”, and similar expressions. For example, our forward-looking statements include statements concerning the expected impact of the executive leadership change on our business, growth and implementation of initiatives; our expectations regarding the Company’s business performance; and our other plans, objectives, expectations (financial and otherwise) and intentions. These statements are subject to risks and uncertainties. For a discussion of the risks, uncertainties and assumptions that could affect our future events, developments or results, you should carefully review the "Risk Factors," "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections in our Annual Report on Form 10-K filed March 15, 2022, our Form 10-Q for the most recently ended fiscal quarter and other filings we make from time to time with the Securities and Exchange Commission. We are not obligated to release publicly any revisions to any forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this report and you should not expect us to do so. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230124005355/en/ \ No newline at end of file diff --git a/news/DLTR/2023.01.30/Dollar General CFO Garratt to retire.txt b/news/DLTR/2023.01.30/Dollar General CFO Garratt to retire.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a96ec8170585704be60996dbe9754187c2d3591 --- /dev/null +++ b/news/DLTR/2023.01.30/Dollar General CFO Garratt to retire.txt @@ -0,0 +1,26 @@ +Jan 30 (Reuters) - Dollar General Corp's Chief +Financial Officer John Garratt would retire effective June 2, +the discount store chain said on Monday, adding that it will +"evaluate options" for its next finance chief.The company is not currently conducting an external search +for Garratt's replacement, it said in a statement, citing its +"robust succession plans"Garratt's retirement comes at a time when retailers are +facing a shift in consumer spending patterns, as penny-pinched +Americans cut back on discretionary items and trade down to +cheaper alternatives such as dollar stores for grocery needs.While that has helped boost sales at Dollar General, the +company in December trimmed its annual profit forecast, as cost +pressures tied to its supply chain problems continued to squeeze +its margins.Garratt, who joined the company in 2014 and was named the +CFO a year later, said "while I look forward to spending more +time with family, this was a difficult personal decision.""The timing of the announcement with John assuming the +President title just six months ago does strike us as a bit +unusual, but we don't think there is anything more to read into +the news," said Gordon Haskett analyst Chuck Grom.The Tennessee-based retailer in July last year named Jeff +Owen its chief executive, replacing Todd Vasos, who stepped down +in November to take on an advisory role until April. Vasos is +set to retire from the company after that.Last week, rival Dollar Tree Inc said Executive +Chairman Richard Dreiling, would replace Chief Executive Officer +Mike Witynski, nearly a year after its settlement with an +activist investor. Dreiling has previously served as chairman +and CEO of Dollar General. +(Reporting by Deborah Sophia in Bengaluru; Editing by Shailesh +Kuber) \ No newline at end of file diff --git a/news/DLTR/2023.02.09/Hanley Investment Group Arranges Sale of 74,500 SF Grocery Outlet and Dollar Tree-Ancho...txt b/news/DLTR/2023.02.09/Hanley Investment Group Arranges Sale of 74,500 SF Grocery Outlet and Dollar Tree-Ancho...txt new file mode 100644 index 0000000000000000000000000000000000000000..5141b5692c18341273224f63994e22cc2c1882e4 --- /dev/null +++ b/news/DLTR/2023.02.09/Hanley Investment Group Arranges Sale of 74,500 SF Grocery Outlet and Dollar Tree-Ancho...txt @@ -0,0 +1 @@ +LONG BEACH, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm recently completed the sale of El Dorado Shopping Center, a 74,500-square-foot shopping center anchored by Grocery Outlet and Dollar Tree in Long Beach, California. The sale price was $21,250,000.Hanley Investment Group's Executive Vice President Kevin Fryman and President Ed Hanley represented the seller, DPI Retail of El Segundo, California. The buyer was a partnership managed and represented by Milan Capital Management of Orange, California."We generated multiple qualified offers for this daily-needs shopping center and procured a 1031 exchange buyer. We maximized price by educating the buyer about value creation through the lease-up of the vacant pad building and a potential break-up strategy," said Fryman."The property offered a rare value-add opportunity to lease up a 5,040-square-foot former restaurant located on the hard corner at Norwalk Boulevard and Wardlow Road, which has 40,000 cars per day," Fryman continues. "The buyer could re-tenant the existing building or execute a ground lease.""Working with the team at Hanley was a real pleasure," said Christopher Nichelson, president of Milan Capital Management. "It's unusual to work with a broker as proactive and diligent as Kevin. There were a couple of issues that could have been real speedbumps in this transaction, but thanks to Kevin's calm and forward-thinking deal-making capabilities, the road to closing was smoother than it really should have been."El Dorado Shopping Center is located on 7.01 acres at the signalized intersection of Norwalk Boulevard and Wardlow Road, 8105-8195 East Wardlow Road, in Long Beach. The shopping center, which was 93% occupied at the time of the sale, was built in 1965 and renovated in 2003. Over 513,000 residents with an average household income of $120,000 reside within a five-mile radius of the property."Grocery Outlet executed a 10-year lease in 2019 with 10% increases every five years, demonstrating its commitment to the site," noted Fryman.Fryman continues, "Investors see a flight to safety and security in the grocery sector, especially with value grocery retailers like Grocery Outlet."Grocery Outlet (NASDAQ: GO) is a high-growth, extreme-value retailer of quality, name-brand consumables and fresh products sold through a network of independently owned and operated stores. The Emeryville, California-based chain has more than 430 stores in California, Oregon, Washington, Idaho, Nevada, Pennsylvania, New Jersey and Maryland.Dollar Tree (NASDAQ: DLTR; S&P: BBB) is the largest and most successful single-price-point retailer in North America, with 8,060 stores and has successfully operated at the center since 2009. In 2019, Dollar Tree extended its lease by five years in 2019, reported Fryman.Ranked 137 on the Fortune 500 list, Dollar Tree, Inc. is two iconic brands - Dollar Tree and Family Dollar - delivering value and convenience through complementary businesses. Serving North America for more than 63 years, the company is dedicated to making people's lives better.The city of Long Beach is the seventh most populous city in California and was ranked 26th in the list of the "Best City in the U.S. to Start a Business," according to WalletHub (2021). The Port of Long Beach is the second busiest seaport in the U.S. California State University-Long Beach boasts 34,000 undergrads, graduates and professionals plus 2,322 full- and part-time staff.In the past 45 days, Hanley Investment Group has sold 26 retail properties totaling $189 million, including the sale of four anchored shopping centers. In addition to the sale of El Dorado Shopping Center in Long Beach, Hanley Investment Group arranged the sale of a 42,800-square-foot Walgreens-anchored shopping center, shadow-anchored by a Kroger grocery store in the Houston metro area; a 180,000-square-foot shopping center with anchors Burlington, Dollar Tree, Marshalls, Planet Fitness and Hibbett Sports and shadow-anchored by Target in Houston; and an 82,000-square-foot Smart & Final-anchored shopping center in Simi Valley, California, which sold for $19.6 million."The recent sales of these four anchored shopping centers continue to demonstrate that shopping centers with strong fundamentals are still trading at favorable cap rates," Fryman noted."2022 was another record year for Hanley Investment Group and the momentum has continued into 2023," said Fryman. "Based upon the number of closings we have already had in 2023 and the strong interest we are experiencing with our listings, we feel that 2023 will be another strong year for Hanley Investment Group."About Hanley Investment GroupHanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a $10 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.For more information, visit www.hanleyinvestment.com.Media ContactCompany Name: Hanley Investment Group Real Estate AdvisorsContact Person: Kevin Fryman, Executive Vice PresidentEmail: kfryman@hanleyinvestment.comPhone: 949.585.7674Address:3500 E. Coast Highway, Suite 100City: Corona del MarState: CaliforniaCountry: United StatesWebsite: https://hanleyinvestmentgroup.com/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/DLTR/2023.02.10/Inflation not cutting hard into consumer spend.txt b/news/DLTR/2023.02.10/Inflation not cutting hard into consumer spend.txt new file mode 100644 index 0000000000000000000000000000000000000000..85be4219c927c167a97ce1d5e0261cbde5a12adb --- /dev/null +++ b/news/DLTR/2023.02.10/Inflation not cutting hard into consumer spend.txt @@ -0,0 +1 @@ +Inflation and the potential talk of a recession isn't stopping most U.S. consumers from spending this year as 67% plan to spend either the same or more this year as they did in 2022 on retail purchases.That's a prime finding from a survey commissioned by DailyPay and discount retailer Dollar Tree that was conducted online by The Harris Poll that polled 1,000 U.S. adults.More than two in five, 44%, are likely to prioritize shopping for bargains in store, compared to 2022, according to a press release on the findings, and 73% plan to shop the same or more in-person this year.The survey also revealed preferences regarding purchasing particular items in-store versus online:"It's encouraging to see that Americans' spending plans are trending upward with only a third planning to spend less this year despite these times of financial uncertainty," Kate Cheesman, VP, customer success, DailyPay, said in the release."With more people shopping in-store, retailers will be prioritizing retaining their top talent to maximize their in-store experience."Dollar Tree, which operates more than 16,000 stores across the Family Dollar and Dollar Tree banners, is seeing similar trends to those revealed in the survey."Our customers are incredibly savvy and taking advantage of our value-price model to stretch their money even further during these uncertain economic times," Mike Creedon, Dollar Tree COO, said in the release. "While discretionary purchases remained strong, we're also seeing an increase in consumables in Dollar Tree and Family Dollar stores."Copyright © 2023 Networld Media. All rights reserved., source Industry News \ No newline at end of file diff --git a/news/DLTR/2023.02.15/Dollar Tree, Inc. to Host Fourth Quarter Earnings Conference Call.txt b/news/DLTR/2023.02.15/Dollar Tree, Inc. to Host Fourth Quarter Earnings Conference Call.txt new file mode 100644 index 0000000000000000000000000000000000000000..da5222ee395b29ce93b14256ebeeda5d40bdf6b8 --- /dev/null +++ b/news/DLTR/2023.02.15/Dollar Tree, Inc. to Host Fourth Quarter Earnings Conference Call.txt @@ -0,0 +1,37 @@ + +Dollar Tree, Inc. (NASDAQ: DLTR), will host its conference call for investors and analysts to discuss financial results for the fourth quarter ended January 28, 2023. + +WHEN: + +Wednesday, March 1, 2023 + +  + +9:00 a.m. Eastern Time + +  + +  + +PARTICIPATE: + +At least 5 minutes prior to the conference call, please dial 866-580-3963 for USA and Canadian calls. + +  + +  + +WEBCAST: + +Available on the investor relations section of the Company's website at https://corporate.dollartree.com/investors/news-events/ir-calendar. + +  + +  + +REPLAY: + +A recorded version of the call will be available until midnight Tuesday, March 7, and may be accessed by dialing 866-583-1035. Please enter Passcode 4733898. + +  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005089/en/ \ No newline at end of file diff --git a/news/DLTR/2023.02.17/Retailers' results may be next test for rally in U.S. stocks.txt b/news/DLTR/2023.02.17/Retailers' results may be next test for rally in U.S. stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..0295d7dbf2e2431b1804f2536cfccc64e0353211 --- /dev/null +++ b/news/DLTR/2023.02.17/Retailers' results may be next test for rally in U.S. stocks.txt @@ -0,0 +1 @@ +As a tepid fourth-quarter results season comes to an end, Walmart and Home Depot are set to report in the coming week, with other high-profile retailers including Best Buy and Lowe's due the following week.How consumers are faring amid soaring prices will be a critical topic for investors, as some have become more confident that the economy will be able to avoid a severe downturn even as the Federal Reserve continues hiking rates to tamp down inflation.One sign of economic resilience came in the past week, when monthly data showed U.S. retail sales increased by the most in nearly two years in January. "The retail sales numbers were reasonably strong, and we want to see that confirmation come from the retailers themselves," said Paul Nolte, market strategist at Murphy and Sylvest Wealth Management. Nolte is considering buying home-improvement retailer stocks that were hit hard in 2022 as the housing market struggled.Stocks have run up despite underwhelming fourth-quarter earnings that has S&P 500 firms on track to post a 2.8% drop in profits from the year-ago period, according to Refintiv IBES. Other companies set to report next week include chip company Nvidia, COVID-19 vaccine maker Moderna and e-commerce firm eBay.The S&P 500 has gained 6.5% so far in 2023 as of Thursday, with stocks bouncing back from a brutal performance last year. Retail stocks have put up mixed returns so far in 2023. The SPDR S&P Retail ETF, which weights small and large companies fairly evenly, has jumped 17% this year. But the performance has been less rosy for some of the biggest companies.Shares of Walmart, the world's largest retailer by sales, have gained only 1.7% in 2023, while shares of Home Depot, the top U.S. home improvement chain, are also up 1.7%. Both companies are set to report on Tuesday and will "set the stage for everyone else," according to JPMorgan retail analysts."We expect HD and WMT's tone on guidance and the consumer to be cautious at best," the JPMorgan analysts wrote in an earnings preview note this week. They rate Walmart shares "neutral" and Home Depot as "overweight."GRAPHIC: U.S. retail stocks versus the market (https://www.reuters.com/graphics/USA-STOCKS/WEEKAHEAD/lbvggbkwxvq/chart.png)Among the other retailers set to report in the coming week are TJX Companies and Bath & Body Works.Peter Tuz, president of Chase Investment Counsel, said he will be watching to see if retailers have been able to push up prices to match their costs. His firm holds shares of a variety of retailers including discounter Dollar Tree and specialty retailers Crocs and Ulta Beauty, but does not own broad retailers like Walmart and Amazon."We are clearly emphasizing retailers in select industries versus the mass market retailers," Tuz said. "With the mass retailers, it's just harder to identify what is going to make them grow."Investors next week will also focus on Wednesday's release of minutes from the Fed's latest meeting, when the central bank scaled back its rate hikes to a quarter-point after a year of heftier raises.Since that meeting, data has shown U.S. consumer prices accelerating and monthly producer prices increasing by the most in seven months in January.Together with a strong U.S. jobs report, the data has led investors to push up expectations for how high the Fed will raise rates and how long they will stay elevated, with futures now pricing in a peak rate of over 5.2% in July.Extremely robust retailer earnings could fuel worries about a more hawkish response from the Fed, said Chuck Carlson, chief executive officer at Horizon Investment Services."If those numbers come in and are really, really, really strong, that could be this idea that too much good news is bad news from a Fed perspective," Carlson said. (Reporting by Lewis Krauskopf; Editing by Bill Berkrot)By Lewis Krauskopf \ No newline at end of file diff --git a/news/DLTR/2023.02.19/Wall St Week Ahead-Retailers' results may be next test for rally in U.S. stocks.txt b/news/DLTR/2023.02.19/Wall St Week Ahead-Retailers' results may be next test for rally in U.S. stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..d4be7dbbae3d6a68109b6f8c3833e5b02e81f0a4 --- /dev/null +++ b/news/DLTR/2023.02.19/Wall St Week Ahead-Retailers' results may be next test for rally in U.S. stocks.txt @@ -0,0 +1,58 @@ +NEW YORK, Feb 17 (Reuters) - Earnings results from major +retailers in the coming weeks will test the strength of the U.S. +stock market rally, as investors gain insight into the health of +consumer spending and the fallout on company bottom lines from +inflation.As a tepid fourth-quarter results season comes to an end, +Walmart and Home Depot are set to report in the +coming week, with other high-profile retailers including Best +Buy and Lowe's due the following week. +How consumers are faring amid soaring prices will be a +critical topic for investors, as some have become more confident +that the economy will be able to avoid a severe downturn even as +the Federal Reserve continues hiking rates to tamp down +inflation.One sign of economic resilience came in the past week, when +monthly data showed U.S. retail sales increased by the most in +nearly two years in January.“The retail sales numbers were reasonably strong, and we +want to see that confirmation come from the retailers +themselves,” said Paul Nolte, market strategist at Murphy and +Sylvest Wealth Management.Nolte is considering buying home-improvement retailer stocks +that were hit hard in 2022 as the housing market struggled.Stocks have run up despite underwhelming fourth-quarter +earnings that has S&P 500 firms on track to post a 2.8% drop in +profits from the year-ago period, according to Refintiv IBES. +Other companies set to report next week include chip company +Nvidia, COVID-19 vaccine maker Moderna and +e-commerce firm eBay.The S&P 500 has gained 6.5% so far in 2023 as of Thursday, +with stocks bouncing back from a brutal performance last year.Retail stocks have put up mixed returns so far in 2023. The +SPDR S&P Retail ETF, which weights small and large +companies fairly evenly, has jumped 17% this year. But the +performance has been less rosy for some of the biggest +companies.Shares of Walmart, the world's largest retailer by sales, +have gained only 1.7% in 2023, while shares of Home Depot, the +top U.S. home improvement chain, are also up 1.7%. Both +companies are set to report on Tuesday and will "set the stage +for everyone else," according to JPMorgan retail analysts."We expect HD and WMT’s tone on guidance and the consumer to +be cautious at best," the JPMorgan analysts wrote in an earnings +preview note this week. They rate Walmart shares "neutral" and +Home Depot as "overweight."Among the other retailers set to report in the coming week +are TJX Companies and Bath & Body Works.Peter Tuz, president of Chase Investment Counsel, said he +will be watching to see if retailers have been able to push up +prices to match their costs.His firm holds shares of a variety of retailers including +discounter Dollar Tree and specialty retailers Crocs +and Ulta Beauty, but does not own broad +retailers like Walmart and Amazon."We are clearly emphasizing retailers in select industries +versus the mass market retailers," Tuz said. "With the mass +retailers, it’s just harder to identify what is going to make +them grow.”Investors next week will also focus on Wednesday's release +of minutes from the Fed's latest meeting, when the central bank +scaled back its rate hikes to a quarter-point after a year of +heftier raises.Since that meeting, data has shown U.S. consumer prices +accelerating and monthly producer prices increasing by the most +in seven months in January.Together with a strong U.S. jobs report, the data has led +investors to push up expectations for how high the Fed will +raise rates and how long they will stay elevated, with futures +now pricing in a peak rate of over 5.2% in July.Extremely robust retailer earnings could fuel worries about +a more hawkish response from the Fed, said Chuck Carlson, chief +executive officer at Horizon Investment Services."If those numbers come in and are really, really, really +strong, that could be this idea that too much good news is bad +news from a Fed perspective,” Carlson said.(Reporting by Lewis Krauskopf +Editing by Bill Berkrot) \ No newline at end of file diff --git a/news/DLTR/2023.02.21/Darktrace audits, Pfizer compensates : MarketScreen...txt b/news/DLTR/2023.02.21/Darktrace audits, Pfizer compensates : MarketScreen...txt new file mode 100644 index 0000000000000000000000000000000000000000..7fca0bde045d16fffa090154635e5884f1c2f5d6 --- /dev/null +++ b/news/DLTR/2023.02.21/Darktrace audits, Pfizer compensates : MarketScreen...txt @@ -0,0 +1,12 @@ + +Ericsson, Segro, InterContinental Hotels Group, Darktrace, Manchester United, Ping An, HSBC, Aedas Homes, Metrovacesa, Atresmedia, Enagas, Telefonica, Pfizer, Amazon, Walmart, Grocery Outlet, Dollar General, Dollar Tree, Kroger and BJ's Wholesale Club,  BHP, and Magnis Energy feature in this press review! + + + + +  + +  +  +  +  diff --git a/news/DLTR/2023.02.27/U.S. retailers' ocean shipping price woes ending as new delays threaten.txt b/news/DLTR/2023.02.27/U.S. retailers' ocean shipping price woes ending as new delays threaten.txt new file mode 100644 index 0000000000000000000000000000000000000000..e66ee37e2110fbca2ebfb5381a86137090195e2b --- /dev/null +++ b/news/DLTR/2023.02.27/U.S. retailers' ocean shipping price woes ending as new delays threaten.txt @@ -0,0 +1 @@ +Carriers like MSC and Maersk are trying to prop up prices by cancelling voyages and that could spark a new round of cargo delays as containers get bumped from one ship to the next, experts said ahead of a major U.S. ocean shipping conference in Long Beach, California, this week. The event, called TPM23, marks the unofficial kickoff of the container shipping contract negotiating season when carriers and their U.S. customers ranging from Walmart Inc to mom and pop merchants and exporters of all stripes hammer out annual price and volume agreements.Those closely watched, and often contentious, negotiations matter because the Asia-U.S. trade lane is the most lucrative for carriers, and those contracts set the tone for talks in other regions.Any shipper savings gleaned from those deals could come with a new headache though - late deliveries.The Port of Los Angeles reported 17 canceled voyages in January and warned of more to come. "If (carriers) keep bumping containers, we could end up missing Christmas," said Isaac Larian, chief executive of Southern California toy maker MGA Entertainment. MGA's team has already switched around 75% of shipments of products like Rainbow High and L.O.L. Surprise! dolls to the short-term spot market from the long-term contract market. The company is paying around $1,150 per container - a cost savings of more than $18,000 from peak, Larian said. Volatile spot rates were the first to plummet when pandemic-weary consumers shifted spending from goods to travel and entertainment. Now the gap between spot and contract rates is closing, pressured by the threat of recession and competition to fill ships, said Peter Sand, chief analyst at air and ocean freight rate benchmarking platform Xeneta. SHIPPERS' REVENGE When demand was booming, carriers raked in record profits by focusing on the most lucrative cargo. Critical customers had to jostle for space and the likes of Walmart, Costco Wholesale Corp and Dollar Tree Inc chartered ships to keep shelves stocked. But the tables have turned, and shippers want payback for ocean cargo costs that quadrupled in some cases. It is "shippers' revenge," said Jon Monroe, an industry consultant and North American representative of Singapore-based Transfar Shipping, whose investors include China e-commerce giant Alibaba. "There was a time when everybody looked for a win-win. COVID threw that right off the tracks," he said. Previously loyal customers are aggressively comparison- shopping, spreading their business around and gambling on the spot market, experts said.The nonbinding nature of ocean contracts drives customers or carriers to push for everything they can get when leverage swings their way, said Lawrence Burns, a consultant who formerly handled negotiations for Hyundai Merchant Marine. This time around, importer and exporter shipping managers, whose costs exploded when they were unexpectedly forced into the sky-high spot market, have the upper hand. "They've been called into the CEO's office too many times in the last two years. They're coming back for blood," Burns said.Customers and carriers do not often discuss contract talks, but in recent earnings calls officials for Walmart - the No. 1 U.S. container shipper - furniture retailer La-Z-Boy, toy maker Mattel Inc and musical instrument seller Yamaha said they expected to benefit from lower rates. (Reporting by Lisa Baertlein in Long Beach, Calif.; Editing by Ben Klayman and Matthew Lewis)By Lisa Baertlein \ No newline at end of file diff --git a/news/DLTR/2023.02.27/U.S. retailers' ocean shipping price woes ending, but new delays threaten.txt b/news/DLTR/2023.02.27/U.S. retailers' ocean shipping price woes ending, but new delays threaten.txt new file mode 100644 index 0000000000000000000000000000000000000000..0a5d55eb62eae1d5022862dc2a9dd56b2ec8d8e7 --- /dev/null +++ b/news/DLTR/2023.02.27/U.S. retailers' ocean shipping price woes ending, but new delays threaten.txt @@ -0,0 +1,54 @@ +LONG BEACH, Calif., Feb 27 (Reuters) - Collapsing ocean +shipping rates would seem to be good news for U.S. retailers, +but they are now bracing for delays as some carriers try to prop +up prices by cancelling voyages.Retailers had paid as much as $20,000 to move a container of +goods during the worst pandemic disruptions.Carriers like MSC and Maersk are trying to +boost prices by cancelling voyages, which could spark a new +round of cargo delays as containers get bumped from one ship to +the next, experts said ahead of a major U.S. ocean shipping +conference in Long Beach, California, this week.The event, called TPM23, marks the unofficial kickoff of the +container shipping contract negotiating season when carriers and +their U.S. customers ranging from Walmart Inc to mom and +pop merchants and exporters of all stripes hammer out annual +price and volume agreements.Those closely watched, and often contentious, negotiations +matter because the Asia-U.S. trade lane is the most lucrative +for carriers, and those contracts set the tone for talks in +other regions.Any shipper savings gleaned from those deals could come with +a new headache though - late deliveries.The Port of Los Angeles reported 17 canceled voyages in +January and warned of more to come."If (carriers) keep bumping containers, we could end up +missing Christmas," said Isaac Larian, chief executive of +Southern California toy maker MGA Entertainment.MGA's team has already switched around 75% of shipments of +products like Rainbow High and L.O.L. Surprise! dolls to the +short-term spot market from the long-term contract market. The +company is paying around $1,150 per container - a cost savings +of more than $18,000 from peak, Larian said.Volatile spot rates were the first to plummet when +pandemic-weary consumers shifted spending from goods to travel +and entertainment. Now the gap between spot and contract rates +is closing, pressured by the threat of recession and competition +to fill ships, said Peter Sand, chief analyst at air and ocean +freight rate benchmarking platform Xeneta.SHIPPERS' REVENGEWhen demand was booming, carriers raked in record profits by +focusing on the most lucrative cargo. Critical customers had to +jostle for space and the likes of Walmart, Costco Wholesale Corp +and Dollar Tree Inc chartered ships to keep +shelves stocked.But the tables have turned, and shippers want payback for +ocean cargo costs that quadrupled in some cases.It is "shippers' revenge," said Jon Monroe, an industry +consultant and North American representative of Singapore-based +Transfar Shipping, whose investors include China e-commerce +giant Alibaba."There was a time when everybody looked for a win-win. COVID +threw that right off the tracks," he said.Previously loyal customers are aggressively comparison- +shopping, spreading their business around and gambling on the +spot market, experts said.The nonbinding nature of ocean contracts drives customers or +carriers to push for everything they can get when leverage +swings their way, said Lawrence Burns, a consultant who formerly +handled negotiations for Hyundai Merchant Marine.This time around, importer and exporter shipping managers, +whose costs exploded when they were unexpectedly forced into the +sky-high spot market, have the upper hand."They've been called into the CEO's office too many times in +the last two years. They're coming back for blood," Burns said.Asked if large customers are signing deals at near spot +rates, MSC Vice President Allen Clifford said, "I suppose some +are." Soren Toft, chief executive of the world's biggest +carrier, declined to comment onstage at TPM23 on Monday.Customers and carriers do not often discuss contract talks, +but in recent earnings calls officials for Walmart - the No. 1 +U.S. container shipper - furniture retailer La-Z-Boy, +toy maker Mattel Inc and musical instrument seller +Yamaha said they expected to benefit from lower rates.(Reporting by Lisa Baertlein in Long Beach, Calif. +Editing by Ben Klayman and Matthew Lewis) \ No newline at end of file diff --git a/news/DXCM/2023.01.03/Dexcom to Present at 41st Annual J.P. Morgan Healthcare Conference.txt b/news/DXCM/2023.01.03/Dexcom to Present at 41st Annual J.P. Morgan Healthcare Conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..4720393805017e73fca9a747e4417f78b388fdaa --- /dev/null +++ b/news/DXCM/2023.01.03/Dexcom to Present at 41st Annual J.P. Morgan Healthcare Conference.txt @@ -0,0 +1,11 @@ + +DexCom, Inc. (NASDAQ:DXCM) today announced that Kevin Sayer, Chairman, President and Chief Executive Officer, will present an update on the company at the 41st annual J.P. Morgan Healthcare Conference on January 9, 2023. + +The live presentation is scheduled to begin at approximately 2:15 PM EST and will be concurrently webcast. + +Links to the webcast will be available on the Dexcom Investor Relations website at investors.dexcom.com and will be archived there for future reference. + +About DexCom, Inc. + +DexCom, Inc. empowers people to take real-time control of diabetes through innovative continuous glucose monitoring (CGM) systems. Headquartered in San Diego, California, and with operations across Europe and select parts of Asia/Oceania, Dexcom has emerged as a leader of diabetes care technology. By listening to the needs of users, caregivers, and providers, Dexcom simplifies and improves diabetes management around the world. For more information about Dexcom CGM, visit www.dexcom.com. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005181/en/ \ No newline at end of file diff --git a/news/DXCM/2023.01.09/Dexcom Appoints Teri Lawver as Chief Commercial Officer.txt b/news/DXCM/2023.01.09/Dexcom Appoints Teri Lawver as Chief Commercial Officer.txt new file mode 100644 index 0000000000000000000000000000000000000000..be8fbd2642abe8ef47c98b20ef7fb76dea7862c1 --- /dev/null +++ b/news/DXCM/2023.01.09/Dexcom Appoints Teri Lawver as Chief Commercial Officer.txt @@ -0,0 +1,21 @@ + +DexCom, Inc. (NASDAQ: DXCM), the global leader in real-time continuous glucose monitoring for people with diabetes, announced today the appointment of Teri Lawver to the newly created role of chief commercial officer. In this role, Ms. Lawver will oversee the global commercial organization with responsibility for global sales, marketing and customer experience. + +Ms. Lawver comes to Dexcom with extensive healthcare and global business leadership experience. She spent the last two decades at Johnson & Johnson (J&J) in a variety of leadership roles across the medical device, consumer med tech, and pharmaceutical sectors. Most recently, Ms. Lawver was the worldwide vice president, immunology at Janssen Pharmaceutical Companies of Johnson & Johnson. During her leadership tenure, the immunology business underwent a strategic portfolio transformation and grew annual revenue from $11 billion to $16 billion during a time of significant market disruption. + +“Teri is an exceptional leader who has repeatedly demonstrated the ability to drive growth and skillfully navigate the global healthcare landscape,” said Kevin Sayer, chairman, president and chief executive officer at Dexcom. “In this new role, Teri will lead Dexcom’s worldwide commercial teams as we build from a position of strength and look to bring Dexcom CGM to millions of additional people around the world who can benefit from our technology.” + +“I am thrilled to join Dexcom in the new chief commercial officer role and guide our talented team at this exciting time in the company’s history,” said Ms. Lawver. “I believe that the combination of Dexcom’s extensive market opportunity, leading technology and commitment to its customers makes this a truly unique role in healthcare. I look forward to supporting the company’s continued growth and global expansion.” + +About Teri Lawver + +Prior to her role as worldwide vice president, immunology at Janssen, Ms. Lawver held the position of global vice president, cardiovascular and metabolism at Janssen. Before joining Janssen, Ms. Lawver spent six years with J&J Medical Device Companies. During this time, she served as president of J&J Medical Companies, Canada, where she had operating and profit and loss (P&L) responsibility for the full portfolio of J&J Medical Device and Diagnostics business in Canada. Before that, she was the worldwide general manager of Animas Corporation, an insulin delivery company previously acquired by J&J. In this role, she led the integration and turnaround of the unit. Ms. Lawver joined J&J at Centocor, a biotech subsidiary, where she held senior positions in sales and marketing. Before joining J&J, Ms. Lawver was an associate principal at McKinsey & Company, where she was a leader in the firm’s healthcare practice. She began her career as a derivatives analyst at Bloomberg. + +Ms. Lawver earned an M.B.A. from Duke University’s Fuqua School of Business, and a Bachelor of Science degree from Georgetown University. + +About DexCom, Inc. + +DexCom, Inc. empowers people to take real-time control of diabetes through innovative continuous glucose monitoring (CGM) systems. Headquartered in San Diego, California, and with operations across Europe and select parts of Asia/Oceania, Dexcom has emerged as a leader of diabetes care technology. By listening to the needs of users, caregivers, and providers, Dexcom simplifies and improves diabetes management around the world. For more information about Dexcom CGM, visit www.dexcom.com. + +© 2023 Dexcom, Inc. Dexcom, Dexcom G6 and Dexcom G7 are registered trademarks of DexCom, Inc. in the U.S., and may be registered in other countries. All rights reserved. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230109005172/en/ \ No newline at end of file diff --git a/news/DXCM/2023.01.09/Dexcom Reports Preliminary, Unaudited Revenue for the Fourth Quarter and Fiscal Year 20...txt b/news/DXCM/2023.01.09/Dexcom Reports Preliminary, Unaudited Revenue for the Fourth Quarter and Fiscal Year 20...txt new file mode 100644 index 0000000000000000000000000000000000000000..0b5fdf52a90d1f3b40d0686a4315d8ae6cbb79b7 --- /dev/null +++ b/news/DXCM/2023.01.09/Dexcom Reports Preliminary, Unaudited Revenue for the Fourth Quarter and Fiscal Year 20...txt @@ -0,0 +1,35 @@ + +DexCom, Inc. (Nasdaq: DXCM), the leader in real-time continuous glucose monitoring (“CGM”), today reported that it expects preliminary, unaudited revenue for the fourth quarter ended December 31, 2022 to be at least $815 million, an increase of 17% over the fourth quarter of 2021 on a reported basis and 20% on an organic1 basis. U.S. revenue is expected to be approximately $606 million, representing growth of 17% over the fourth quarter of 2021. International revenue is expected to be approximately $209 million, an increase of 15% over the fourth quarter of 2021 on a reported basis and 26% on an organic1 basis. + +For fiscal 2022, total preliminary, unaudited revenue is expected to be approximately $2.91 billion, an increase of 19% over 2021 on both a reported and organic basis. + +“Dexcom once again delivered strong performance in 2022, highlighted by significant growth in our global customer base and key regulatory clearances of our next-generation G7 CGM system,” said Kevin Sayer, Dexcom’s chairman, president and CEO. “We are excited to hit the ground running in 2023, building upon the CGM access expansion that we have driven over the past year to bring our leading sensor technology and a greater quality of care to many more people with diabetes around the world.” + +2023 Outlook + +For 2023, Dexcom currently anticipates total revenue of approximately $3.35 billion to $3.49 billion, representing expected growth of approximately 15% to 20% over 2022. This outlook considers sensor volume growth driven by increasing CGM awareness for people with diabetes, the launch of the Dexcom G7 CGM system in the U.S. and its continued rollout in international markets, further international expansion, and overall market dynamics. + +In addition, Dexcom currently estimates 2023 Non-GAAP Gross Profit Margin and Non-GAAP Operating Margin to be at the following levels: + +- Non-GAAP Gross Profit Margin of 62 – 63% + +- Non-GAAP Operating Margin of approximately 16.5% + +1 Excludes non-CGM revenue acquired in the trailing twelve months, as well as the impact of foreign exchange. + +Fourth Quarter 2022 Financial Results Conference Call + +Dexcom will report its audited full fourth quarter and fiscal 2022 financial results on Thursday, February 9, 2023 after the close of market. Management is currently scheduled to host a conference call at 4:30 p.m. (Eastern Time) that day. More details will be provided later. + +About DexCom, Inc. + +DexCom, Inc. empowers people to take real-time control of diabetes through innovative continuous glucose monitoring (CGM) systems. Headquartered in San Diego, California, and with operations across Europe and select parts of Asia/Oceania, Dexcom has emerged as a leader of diabetes care technology. By listening to the needs of users, caregivers, and providers, Dexcom simplifies and improves diabetes management around the world. For more information about Dexcom CGM, visit www.dexcom.com. + +Statement Regarding Use of Non-GAAP Financial Measures + +This press release includes non-GAAP financial measures. We have not reconciled our Non-GAAP Gross Profit Margin and Non-GAAP Operating Margin estimates for fiscal year 2023 because certain items that impact these figures are uncertain or out of our control and cannot be reasonably predicted. Accordingly, a reconciliation of Non-GAAP Gross Profit Margin and Non-GAAP Operating Margin is not available without unreasonable effort. + +Cautionary Statement Regarding Forward Looking Statements + +This press release contains forward-looking statements that are not purely historical regarding Dexcom’s or its management’s intentions, beliefs, expectations and strategies for the future, including those related to Dexcom’s preliminary, unaudited revenue for the fourth quarter of and the full fiscal year 2022, and estimated total revenue, Non-GAAP Gross Profit Margin, and Non-GAAP Operating Margin for fiscal 2023, as well as expected growth rates as compared to the year ended December 31, 2021. All forward-looking statements included in this press release are made as of the date of this release, based on information currently available to Dexcom, deal with future events, are subject to various risks and uncertainties, and actual results could differ materially from those anticipated in those forward-looking statements. The risks and uncertainties that may cause actual results to differ materially from Dexcom’s current expectations are more fully described in Dexcom’s most recent Quarterly Report on Form 10-Q for the period ended September 30, 2022, as filed with the Securities and Exchange Commission on October 27, 2022, and its other reports, each as filed with the Securities and Exchange Commission. Except as required by law, Dexcom assumes no obligation to update any such forward-looking statement after the date of this report or to conform these forward-looking statements to actual results. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230109005171/en/ \ No newline at end of file diff --git a/news/DXCM/2023.01.12/Health Rounds: Artificial pancreas closer for type 2 diabetes.txt b/news/DXCM/2023.01.12/Health Rounds: Artificial pancreas closer for type 2 diabetes.txt new file mode 100644 index 0000000000000000000000000000000000000000..f963c038b82dcfdfd2e17612503d8e710644bae8 --- /dev/null +++ b/news/DXCM/2023.01.12/Health Rounds: Artificial pancreas closer for type 2 diabetes.txt @@ -0,0 +1,87 @@ +(Health Rounds is published on Tuesdays and Thursdays. Think +your friend or colleague should know about us? Forward this +newsletter to them. They can also subscribe here.)Jan 12 - Hello Health Rounds Readers! Several artificial +pancreas systems are on the market for people with type 1 +diabetes, but the technology has not yet been calibrated for +those with type 2 diabetes who eventually need insulin +injections to control their blood sugar. This week, a report of +a small UK trial suggests that artificial pancreas systems that +improve blood sugar control in this larger population are coming +closer to reality.In other news: pretreating some colon cancers with +immunotherapy drugs before surgery may yield significantly +better outcomes. And U.S. regulations for approving updated +medical devices need improvement, two studies suggest.Artificial pancreas for type 2 diabetes works in small trialAn artificial pancreas to help control blood sugar for +people with type 2 diabetes who require insulin is coming closer +to reality, researchers reported on Wednesday in Nature +Medicine.In a preliminary trial, 26 patients who used the artificial +pancreas saw the amount of time spent with appropriate glucose +levels double compared to when they managed their insulin doses +on their own.The artificial pancreas is a fully closed loop system, which +means that unlike devices for people with type 1 diabetes, it +does not require inputting information about meals and exercise. +Instead, it employs an algorithm that predicts patients' insulin +requirements. While most of the hundreds of millions of people +with type 2 diabetes manage it with diet changes and oral +medicines, if not well controlled the disease can progress until +insulin becomes necessary.The experimental system uses an off-the-shelf glucose +monitor from Dexcom Inc, an insulin pump from SOOIL +Development Co, and an app developed at University of Cambridge, +UK.Participants used the new device for eight weeks. During a +second 8-week period without it, they performed their usual +fingertip pricks and gave themselves injections.On average, with the artificial pancreas glucose levels were +in the target range 66% of the time and too high 33% of the +time. With usual self-care, glucose levels stayed in range only +32% of the time and were elevated 67% of the time.There were no episodes of dangerously low blood sugar using +the system.The researchers are now planning a larger, longer study and +have submitted the system for regulatory approval.About 90% to 95% of people with diabetes have type 2, which +has been linked with obesity. Although it most often develops +after age 45, the illness is increasingly occurring in children +and young adults.New approach to colorectal cancers shows 'great promise'For some patients with early- or mid-stage colorectal cancer +(CRC), getting treated first with an immunotherapy drug instead +of going straight to surgery might improve the odds of cure and, +in some cases, may help them avoid surgery altogether, a study +from China suggests.Some 15% of CRCs contain cells with genetic mutations that +contribute to mistakes when the cells divide. Doctors already +know that a class of immunotherapy drugs called PD-1 inhibitors, +such as Merck and Co's Keytruda and Opdivo from Bristol +Myers Squibb, are helpful when tumors with these so +called mismatch repair deficient (dMMR) cells have become +inoperable.The new study, published on Wednesday in the Journal of the +National Comprehensive Cancer Network, found immunotherapy +appears to be even more effective when tumors are at +less-advanced stages.Researchers reviewed data from 2017-2021 on 73 CRC patients +scheduled for surgery who received PD-1 inhibitors beforehand. +Most had tumors that had begun to invade other nearby tissues. +In 17 patients (23.3%), tumors disappeared completely after +treatment and did not return. These patients did not require +surgery. In 45 patients (61.6%) whose tumors shrank after +immunotherapy, 40 later had surgery. All whose tumors +disappeared or were surgically removed were alive and free of +CRC two years later.While data reviews are less reliable than formal randomized +trials, the researchers said pre-surgery immunotherapy shows +"great promise for becoming the new standard of care" for +operable CRCs with dMMR cells.Updated medical devices need better approval processThe U.S. Food and Drug Administration allows medical device +manufacturers to market updated versions of their products with +little testing and without consideration of whether the earlier +version was safe, two studies suggest.The FDA's so-called 510(k) pathway allows updated medical +devices to be commercialized without testing in clinical trials, +based on the fact that an earlier version had been approved - +even when the earlier approved version itself had not undergone +extensive testing or was known to have been recalled.A study published on Tuesday in JAMA looked at 156 medical +devices cleared under the 510(k) pathway from 2017 through 2021 +that were later subject to a "Class I" recall because of high +risk of serious side effects or death. Overall, 44.1% had been +authorized using earlier versions that had also been subject to +Class I recalls. The risk of a Class I recall was more than six +times higher for updated devices that got 510(k) approval based +on an earlier version that also had been recalled, compared with +similarly approved devices with recall-free histories, the +researchers reported.In a separate study in the same issue of the journal, a +different team of researchers analyzed 35,176 medical devices +cleared by the FDA between 2003 and 2018 via the 510(k) pathway. +Updated devices submitted for approval based on earlier versions +with three or more ongoing recalls had a 9.31 percentage-point +increase in recall probability, the study found.Both teams said better safeguards for the 510(k) pathway are +needed to ensure patient safety. +(Reporting by Nancy Lapid +Editing by Bill Berkrot) \ No newline at end of file diff --git a/news/DXCM/2023.01.24/Dexcom Schedules Fourth Quarter And : 30 p.m. Eastern Time.txt b/news/DXCM/2023.01.24/Dexcom Schedules Fourth Quarter And : 30 p.m. Eastern Time.txt new file mode 100644 index 0000000000000000000000000000000000000000..ff5e0a57d2f7480250836be92e814c4c9802473c --- /dev/null +++ b/news/DXCM/2023.01.24/Dexcom Schedules Fourth Quarter And : 30 p.m. Eastern Time.txt @@ -0,0 +1,9 @@ + +DexCom, Inc. (NASDAQ:DXCM) today announced that it plans to release its fourth quarter and full year 2022 financial results after market close on Thursday, February 9, 2023. Management will hold a conference call to review the company's fourth quarter and full year 2022 performance starting at 4:30 p.m. (Eastern Time) on the same day. The conference call will be concurrently webcast. The link to the webcast will be available on the Dexcom investor relations website at investors.dexcom.com and will be archived there for future reference. + +To listen to the conference call, please dial (888) 414-4585 (US/Canada) or (646) 960-0331 (International) and use the confirmation ID "9430114" approximately five minutes prior to the start time. + +About DexCom, Inc. + +DexCom, Inc. empowers people to take real-time control of diabetes through innovative continuous glucose monitoring (CGM) systems. Headquartered in San Diego, California, and with operations across Europe and select parts of Asia/Oceania, Dexcom has emerged as a leader of diabetes care technology. By listening to the needs of users, caregivers, and providers, Dexcom simplifies and improves diabetes management around the world. For more information about Dexcom CGM, visit www.dexcom.com. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230124005399/en/ \ No newline at end of file diff --git a/news/DXCM/2023.01.25/Tidepool Announces Appointment of John Lister as New Chief Operating Officer.txt b/news/DXCM/2023.01.25/Tidepool Announces Appointment of John Lister as New Chief Operating Officer.txt new file mode 100644 index 0000000000000000000000000000000000000000..172edb9d1a5d77819cf726c4883cf5d86e3a73a5 --- /dev/null +++ b/news/DXCM/2023.01.25/Tidepool Announces Appointment of John Lister as New Chief Operating Officer.txt @@ -0,0 +1 @@ +PALO ALTO, Calif. - Tidepool, a recognized innovator in the diabetes space driving interoperability for all diabetes software and devices, announced that John Lister, has been appointed to the Tidepool team as Chief Operating Officer. As Tidepool's new COO, John will lead and scale business operations and go-to-market teams, positioning the organization for success utilizing their nimble software-first approach within the medical device industry.'John's inclusive leadership approach is ideally matched to drive Tidepool through this critical inflection point, as we prepare for the next generation of products that will have an even bigger impact on our community,' said Howard Look, founder and CEO of Tidepool. 'His decades of experience in scaling businesses, high performance team development and deep knowledge and understanding of the industry will give us a solid foundation for this next phase of Tidepool's growth.'John joins with over 15 years of diabetes industry experience having served in various executive roles, most notably at Dexcom, continuous glucose monitor (CGM) producer where, over twelve years, he led the legal and human resources groups, and later launched Dexcom's international business, primarily from Europe. During his tenure John served on Dexcom's executive management team, which led the launch of six generations of CGM in over 35 countries. In addition, John has more recently advised several diabetes companies on strategic matters, and previously served as a corporate attorney for Fenwick & West, advising emerging growth technology companies. John earned his J.D. from the University of San Francisco.As the diabetes device industry continues to innovate, Tidepool has taken a leading role in helping to define how to create and operate in systems that allow for patient and clinician choice. Tidepool is anticipating clearance for Tidepool Loop, an iPhone-controlled interoperable automated glycemic controller (iAGC) for type 1 diabetes management. Tidepool is also filling the gap for unmet clinician needs with Tidepool+, their clinic offering. Tidepool+ provides workflow efficiencies leading to improved clinician and patient experiences with additional product features that lean into Tidepool's expertise in intuitive user-design.'With its technologies and strong team, I believe Tidepool is uniquely positioned to enable insight and action that can help a very large number of patients, clinicians and caregivers,' said John. 'I am excited about the opportunities to make lasting change in the diabetes community and look forward to working closely with the team to scale the impact of all the work being done at Tidepool.'About TidepoolTidepool is a recognized innovator in diabetes software on a mission to make diabetes data more accessible, actionable, and meaningful for people with diabetes, their care teams, and researchers. Founded in 2013, Tidepool hosts a suite of software tools for people with diabetes and the clinics that serve them, including Tidepool Web, Tidepool Mobile, Tidepool Uploader, and soon Tidepool Loop. Tidepool is a registered 5013 nonprofit organization. Learn more at tidepool.org. Follow us on Twitter at @Tidepool_org and on Facebook and Instagram.Contact:Christopher SniderSaira Khan-GalloE: media@tidepool.org(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/DXCM/2023.02.07/Dexcom and Nick Jonas Make Super Bowl Magic to Launch New Dexcom G7 Continuous Glucose ...txt b/news/DXCM/2023.02.07/Dexcom and Nick Jonas Make Super Bowl Magic to Launch New Dexcom G7 Continuous Glucose ...txt new file mode 100644 index 0000000000000000000000000000000000000000..01dc19a88f4e9a99e6d330eeaa7a5259b01b1cf7 --- /dev/null +++ b/news/DXCM/2023.02.07/Dexcom and Nick Jonas Make Super Bowl Magic to Launch New Dexcom G7 Continuous Glucose ...txt @@ -0,0 +1,35 @@ + +DexCom, Inc. (NASDAQ:DXCM), the global leader in real-time continuous glucose monitoring for people with diabetes, today unveiled the company’s second Super Bowl commercial, which announces the US launch of its next-generation Dexcom G7 CGM System. The ad, which will run during the second quarter of Super Bowl LVII on Feb. 12, 2023, stars multi-platinum recording artist, songwriter, actor and philanthropist, Nick Jonas. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230207005121/en/Nick Jonas on set during production of Dexcom's 2023 Super Bowl commercial launching its new Dexcom G7 CGM System. (Photo: Business Wire) +“Dexcom CGM has changed my life and revolutionized the way I take care of my health,” said Jonas. “People with diabetes – whether Type 1 or Type 2 – should have the best technology available to manage their disease, and with Dexcom G7, they’ll have it. I’m excited for the opportunity to share this new device with the world and to raise awareness around the magic of CGM. Raising awareness of this technology for the millions of Americans who need it is one key step toward ensuring people with diabetes have the best technology available to live beyond their diagnosis.” + +Dexcom G7 is the most accurate,1 easy to use CGM available – it’s not magic, it just feels that way. + +In the Super Bowl spot, Jonas, who was diagnosed with Type 1 diabetes at the age of 13, uses a magician’s sleight of hand and some CGI wizardry to reveal the new CGM system to the world. + +With Dexcom G7, the #1 recommended CGM brand7,8 now offers the most accurate1 and simple way to help people gain greater control of their diabetes, so they can manage the disease with more confidence. Its low-profile, all-in-one wearable warms up faster than any other CGM on the market,† sending real-time glucose readings automatically to a compatible smart device‡ or receiver, no painful fingersticks* or burdensome scanning required. With an overall MARD of 8.2%, Dexcom G7 is the most accurate CGM on the market,1 building on the trusted performance of Dexcom CGM, which is clinically proven to lower A1C, reduce hyper- and hypoglycemia and increase time in range.2-6 Dexcom G7 is also the only integrated CGM system trusted for use during pregnancy, delivering better peace of mind to pregnant patients managing Type 1, Type 2 and gestational diabetes. + +Increasing CGM awareness is critical to help millions of people with diabetes start using the latest diabetes management technology to improve their health and quality of life. + +“At Dexcom, we are in the business of providing information that can help people with diabetes better manage their disease. With so many people still unaware of CGM and how it can benefit them, we thought the best way to get the word out was to partner once again with one of the biggest stars on the biggest stage,” said Kevin Sayer, chairman, president and CEO of Dexcom. “Nick Jonas and the Super Bowl is a magical combination to encourage millions of Americans with diabetes to get started with Dexcom G7 and begin their journey toward better controlled diabetes and improved health.” + +Diabetes is a serious problem that has reached epidemic proportions with no signs of slowing down. Today, the global burden of diabetes reaches 537 million people and costs nearly $1 trillion in diabetes-related health expenditures.12 What’s more, the rate of young people with diabetes in the US alone is projected to surge 146% by 2060.13 Now more than ever, it is essential to raise awareness for life-changing CGM technology that has revolutionized diabetes management. + +The Super Bowl ad is at the center of a broader awareness campaign that aims to highlight the “magic moments” people with diabetes can experience with a little help from their Dexcom CGM. The campaign asks the diabetes community to share the personal “magic moments” they are most proud of on social media to show the world diabetes doesn’t have to hold anyone back. A group of seven Dexcom Warriors were invited to the Super Bowl set for a behind-the-scenes look at the spot and to share their inspiring stories with Jonas, including Mireya Martinez, a Texas-based pastor living with Type 2 diabetes. + +“Diabetes is a relentless disease and managing it properly can sometimes feel impossible,” said Martinez. “Being surrounded by so many other people with diabetes on set who understand what it’s like to live with this disease was an inspiring experience. It is extremely rewarding to be part of this Super Bowl campaign raising awareness for CGM and helping people with diabetes feel understood and represented. I am so excited for Dexcom G7 to launch and for millions of people to experience the magic of CGM for themselves.” + +To facilitate immediate access to Dexcom G7 for as many users as possible, Dexcom will have accessible cash pay options in place at launch as the company transitions coverage availability for the new system. + +Visit Dexcom.com/Magic today to get started with Dexcom G7. + +About DexCom, Inc. + +Dexcom, Inc. empowers people to take control of health through innovative continuous glucose monitoring systems. Headquartered in San Diego, Calif., Dexcom has emerged as a leader of diabetes care technology. By listening to the needs of users, caregivers and providers, Dexcom simplifies and improves diabetes management around the world. For more information about Dexcom, visit dexcom.com/about-dexcom. + +*Fingersticks required for diabetes treatment decisions if symptoms or expectations do not match readings. + +†Dexcom G7 can complete warmup within 30 minutes, whereas other CGM brands require up to an hour or longer. ‡To view a list of compatible smart devices, visit dexcom.com/compatibility. §Refers to estimated out-of-pocket cost for eligible commercially insured patients from the Dexcom CGM sensor when claims are adjudicated as a pharmacy benefit, and includes benefits and offerings through available Dexcom programs, such as the voucher program. Actual cost may vary and is subject to individual insurance coverage. + +1 Dexcom, data on file, 2022. 2 Welsh JB, et al. J Diabetes Sci Technol. 2022:19322968221099879. 3 Gilbert TR, et al. Diabetes Technol Ther. 2021;23(S1):S35-S39. 4 Beck RW, et al. JAMA. 2017;317(4):371-378. 5 Beck RW, et al. Ann Intern Med. 2017;167(6):365-374. 6 Martens T, et al. JAMA. 2021;325(22):2262-2272. 7 d&A US Q1 2021 Diabetes Connections Patient Panel Report.2021;69-72. 8 Seagrove HCP Survey Q1 2021. 2021;65. 9 “Super Bowl LVI total viewing audience estimated at over 208 million.” NFL.com. Accessed January 26, 2023. https://www.nfl.com/news/super-bowl-lvi-total-viewing-audience-estimated-at-over-208-million. 10 Managed Markets Insights & Technology, LLC. MMIT Analytics, June 2022. 11 IQVIA, February 2022. 12 “International Diabetes Federation seeks input into survey on access to diabetes education.” FDA World Dental Federation. Accessed January 26, 2023. 13 Tönnies T, et al. Diabetes Care 2023;46(2):313–320. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230207005121/en/ \ No newline at end of file diff --git a/news/DXCM/2023.02.09/Dexcom : Q4 Earnings Snapshot.txt b/news/DXCM/2023.02.09/Dexcom : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..4fffbbaa315bcd701576d097285201ae18646927 --- /dev/null +++ b/news/DXCM/2023.02.09/Dexcom : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +SAN DIEGO (AP) — SAN DIEGO (AP) — DexCom Inc. (DXCM) on Thursday reported fourth-quarter net income of $91.8 million, after reporting a loss in the same period a year earlier.The San Diego-based company said it had net income of 22 cents per share. Earnings, adjusted for one-time gains and costs, were 34 cents per share.The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.The medical device company posted revenue of $815.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $815 million.For the year, the company reported profit of $341.2 million, or 82 cents per share. Revenue was reported as $2.91 billion.DexCom expects full-year revenue in the range of $3.35 billion to $3.49 billion.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DXCM at https://www.zacks.com/ap/DXCMFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/DXCM/2023.02.09/Dexcom Reports Fourth Quarter and Fiscal Year 2022 Financial Results.txt b/news/DXCM/2023.02.09/Dexcom Reports Fourth Quarter and Fiscal Year 2022 Financial Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..da4d9ef6c825d49c19cb033bd766898e4fe217fb --- /dev/null +++ b/news/DXCM/2023.02.09/Dexcom Reports Fourth Quarter and Fiscal Year 2022 Financial Results.txt @@ -0,0 +1,3823 @@ + +DexCom, Inc. (Nasdaq: DXCM) today reported its financial results as of and for the quarter and fiscal year ended December 31, 2022. + +Fourth Quarter 2022 Financial Highlights: + +Full Year 2022 Financial Highlights: + +Fourth Quarter 2022 Strategic Highlights: + +“2022 proved to be another great year for Dexcom as we delivered record new customer starts, drove multiple new product launches and significantly expanded access to Dexcom CGM around the world,” said Kevin Sayer, Dexcom’s chairman, president and CEO. “As we move into 2023, we are very excited to officially bring G7 to the U.S. market and further advance our strategic initiatives to reach the millions of additional people that could benefit from Dexcom CGM.” + +1 + +Excludes non-CGM revenue acquired in the trailing twelve months, as well as the impact of foreign exchange. + +2 + +Dexcom, data on file, 2022. + +3 + +Managed Markets Insights & Technology, LLC. MMIT Analytics, June 2022. + +2023 Annual Guidance + +The company is reiterating guidance for fiscal year 2023 revenue, Non-GAAP Gross Profit Margin, and Non-GAAP Operating Margin, and establishing guidance for Adjusted EBITDA Margin at the following levels: + +Fourth Quarter 2022 Financial Results + +Revenue: In the fourth quarter of 2022, worldwide revenue grew 17% to $815.2 million, up from $698.2 million in the fourth quarter of 2021. Volume growth in conjunction with strong new customer additions continues to be the primary driver of revenue growth as awareness of real-time CGM increases. + +Gross Profit: GAAP gross profit totaled $541.3 million or 66.4% of revenue for the fourth quarter of 2022, compared to $472.6 million or 67.7% of revenue in the fourth quarter of 2021. + +Non-GAAP gross profit* totaled $543.7 million or 66.7% of revenue for the fourth quarter of 2022, compared to $472.6 million or 67.7% of revenue in the fourth quarter of 2021. + +Operating Income: GAAP operating income for the fourth quarter of 2022 was $125.4 million, compared to GAAP operating income of $0.6 million for the fourth quarter of 2021. + +Non-GAAP operating income* for the fourth quarter of 2022 was $172.1 million, compared to non-GAAP operating income of $11.9 million for the fourth quarter of 2021. + +Net Income (Loss) and Net Income (Loss) per Share: GAAP net income was $91.8 million, or $0.22 per diluted share, for the fourth quarter of 2022, compared to GAAP net loss of $5.3 million, or $0.01 per diluted share, for the same quarter of 2021. + +Non-GAAP net income* was $136.3 million, or $0.34 per diluted share, for the fourth quarter of 2022, compared to non-GAAP net loss of $2.4 million, or $0.01 per diluted share, for the same quarter of 2021. The fourth quarter 2022 non-GAAP amount excludes $24.1 million of business transition and related costs, $18.4 million of intellectual property litigation costs, $4.2 million of amortization of intangible assets, and $2.2 million of tax adjustments primarily related to excess tax benefits from stock compensation vesting. + +Cash and Liquidity: As of December 31, 2022, Dexcom held $2.46 billion in cash, cash equivalents and marketable securities and our revolving credit facility remains undrawn. The cash balance represents significant financial and strategic flexibility as Dexcom continues to expand production capacity and explore new market opportunities. + +* See Table E below for a reconciliation of these GAAP and non-GAAP financial measures. + +Conference Call + +Management will hold a conference call today starting at 4:30 p.m. (Eastern Time). The conference call will be concurrently webcast. The link to the webcast will be available on the Dexcom Investor Relations website at investors.dexcom.com by navigating to “Events and Presentations,” and will be archived for future reference. To listen to the conference call, please dial (888) 414-4585 (US/Canada) or (646) 960-0331 (International) and use the conference id “9430114” approximately five minutes prior to the start time. + +Statement Regarding Use of Non-GAAP Financial Measures + +This press release and the accompanying tables include non-GAAP financial measures. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP), please see the section of the accompanying tables titled “About Non-GAAP Financial Measures” as well as the related Table E. We have not reconciled our total revenue, Non-GAAP Gross Profit Margin, Non-GAAP Operating Margin and Adjusted EBITDA Margin estimates for fiscal year 2023 because certain items that impact these figures are uncertain or out of our control and cannot be reasonably predicted. Accordingly, a reconciliation of total revenue, Non-GAAP Gross Profit Margin, Non-GAAP Operating Margin and Adjusted EBITDA Margin is not available without unreasonable effort. + +About DexCom, Inc. + +DexCom, Inc. empowers people to take control of diabetes through innovative continuous glucose monitoring (CGM) systems. Headquartered in San Diego, California, Dexcom has emerged as a leader of diabetes care technology. By listening to the needs of users, caregivers, and providers, Dexcom simplifies and improves diabetes management around the world. For more information about Dexcom CGM, visit www.dexcom.com. + +Cautionary Statement Regarding Forward Looking Statements + +This press release contains forward-looking statements that are not purely historical regarding Dexcom’s or its management’s intentions, beliefs, expectations and strategies for the future, including those related to Dexcom’s estimated total revenue, Non-GAAP Gross Profit Margin, Non-GAAP Operating Margin, and Adjusted EBITDA Margin for fiscal 2023, as well as expected growth rates as compared to the year ended December 31, 2022. All forward-looking statements included in this press release are made as of the date of this release, based on information currently available to Dexcom, deal with future events, are subject to various risks and uncertainties, and actual results could differ materially from those anticipated in those forward-looking statements. The risks and uncertainties that may cause actual results to differ materially from Dexcom’s current expectations are more fully described in Dexcom’s Annual Report on Form 10-K for the period ended December 31, 2022, as filed with the Securities and Exchange Commission (SEC) on February 9, 2023, and our most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the SEC on October 27, 2022. Except as required by law, Dexcom assumes no obligation to update any such forward-looking statement after the date of this report or to conform these forward-looking statements to actual results. + +DexCom, Inc. + +Table A + +Consolidated Balance Sheets + +(In millions, except par value data) + +  + +  + +  + +  + +  + +  + +  + +December 31, +2022 + +  + +December 31, +2021 + +Assets + +  + +  + +(As Adjusted)* + +Current assets: + +  + +  + +  + +Cash and cash equivalents + +$ + +642.3 + +  + +  + +$ + +1,052.6 + +  + +Short-term marketable securities + +  + +1,813.9 + +  + +  + +  + +1,678.6 + +  + +Accounts receivable, net + +  + +713.3 + +  + +  + +  + +514.3 + +  + +Inventory + +  + +306.7 + +  + +  + +  + +357.3 + +  + +Prepaid and other current assets + +  + +192.6 + +  + +  + +  + +81.6 + +  + +Total current assets + +  + +3,668.8 + +  + +  + +  + +3,684.4 + +  + +Property and equipment, net + +  + +1,055.6 + +  + +  + +  + +801.8 + +  + +Operating lease right-of-use assets + +  + +80.0 + +  + +  + +  + +88.1 + +  + +Goodwill + +  + +25.7 + +  + +  + +  + +26.5 + +  + +Intangibles, net + +  + +173.3 + +  + +  + +  + +31.5 + +  + +Deferred tax assets + +  + +341.2 + +  + +  + +  + +290.5 + +  + +Other assets + +  + +47.1 + +  + +  + +  + +10.5 + +  + +Total assets + +$ + +5,391.7 + +  + +  + +$ + +4,933.3 + +  + +Liabilities and Stockholders’ Equity + +  + +  + +  + +Current liabilities: + +  + +  + +  + +Accounts payable and accrued liabilities + +$ + +901.8 + +  + +  + +$ + +573.0 + +  + +Accrued payroll and related expenses + +  + +134.3 + +  + +  + +  + +125.2 + +  + +Current portion of long-term senior convertible notes + +  + +772.6 + +  + +  + +  + +— + +  + +Short-term operating lease liabilities + +  + +20.5 + +  + +  + +  + +20.5 + +  + +Deferred revenue + +  + +10.1 + +  + +  + +  + +2.1 + +  + +Total current liabilities + +  + +1,839.3 + +  + +  + +  + +720.8 + +  + +Long-term senior convertible notes + +  + +1,197.7 + +  + +  + +  + +1,981.8 + +  + +Long-term operating lease liabilities + +  + +94.6 + +  + +  + +  + +98.6 + +  + +Other long-term liabilities + +  + +128.3 + +  + +  + +  + +90.0 + +  + +Total liabilities + +  + +3,259.9 + +  + +  + +  + +2,891.2 + +  + +Commitments and contingencies + +  + +  + +  + +Stockholders’ equity: + +  + +  + +  + +Preferred stock, $0.001 par value, 5.0 million shares authorized; no shares issued and outstanding at December 31, 2022 and December 31, 2021 + +  + +— + +  + +  + +  + +— + +  + +Common stock, $0.001 par value, 800.0 million shares authorized; 393.2 million and 386.3 million shares issued and outstanding, respectively, at December 31, 2022; and 391.4 million and 388.0 million shares issued and outstanding, respectively, at December 31, 2021 + +  + +0.4 + +  + +  + +  + +0.4 + +  + +Additional paid-in capital + +  + +2,258.1 + +  + +  + +  + +2,108.7 + +  + +Accumulated other comprehensive income (loss) + +  + +(11.6 + +) + +  + +  + +0.5 + +  + +Retained earnings + +  + +479.9 + +  + +  + +  + +138.7 + +  + +Treasury stock, at cost; 6.9 million shares at December 31, 2022 and 3.4 million shares at December 31, 2021 + +  + +(595.0 + +) + +  + +  + +(206.2 + +) + +Total stockholders’ equity + +  + +2,131.8 + +  + +  + +  + +2,042.1 + +  + +Total liabilities and stockholders’ equity + +$ + +5,391.7 + +  + +  + +$ + +4,933.3 + +  + +  + +  + +  + +  + +* We adjusted our 2021 amounts to reflect the simplified convertible instruments accounting guidance (ASU 2020-06), which we adopted on a full retrospective basis. All periods presented have also been adjusted to reflect the four-for-one stock split. + +DexCom, Inc. + +Table B + +Consolidated Statements of Operations + +(In millions, except per share data) + +(Unaudited) + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended +December 31, + +  + +Twelve Months Ended +December 31, + +  + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +  + +  + +  + +  + +(As Adjusted)* + +  + +  + +  + +(As Adjusted)* + +Revenue + +$ + +815.2 + +  + +  + +$ + +698.2 + +  + +  + +$ + +2,909.8 + +  + +  + +$ + +2,448.5 + +  + +Cost of sales + +  + +273.9 + +  + +  + +  + +225.6 + +  + +  + +  + +1,026.7 + +  + +  + +  + +768.0 + +  + +Gross profit + +  + +541.3 + +  + +  + +  + +472.6 + +  + +  + +  + +1,883.1 + +  + +  + +  + +1,680.5 + +  + +Operating expenses: + +  + +  + +  + +  + +  + +  + +  + +Research and development + +  + +116.3 + +  + +  + +  + +149.8 + +  + +  + +  + +484.2 + +  + +  + +  + +517.1 + +  + +Collaborative research and development fee + +  + +— + +  + +  + +  + +87.1 + +  + +  + +  + +— + +  + +  + +  + +87.1 + +  + +Amortization of intangible assets + +  + +1.8 + +  + +  + +  + +1.4 + +  + +  + +  + +7.5 + +  + +  + +  + +3.7 + +  + +Selling, general and administrative + +  + +297.8 + +  + +  + +  + +233.7 + +  + +  + +  + +1,000.2 + +  + +  + +  + +806.8 + +  + +Total operating expenses + +  + +415.9 + +  + +  + +  + +472.0 + +  + +  + +  + +1,491.9 + +  + +  + +  + +1,414.7 + +  + +Operating income + +  + +125.4 + +  + +  + +  + +0.6 + +  + +  + +  + +391.2 + +  + +  + +  + +265.8 + +  + +Interest expense + +  + +(4.7 + +) + +  + +  + +(4.7 + +) + +  + +  + +(18.6 + +) + +  + +  + +(18.8 + +) + +Loss on extinguishment of debt + +  + +— + +  + +  + +  + +(0.1 + +) + +  + +  + +— + +  + +  + +  + +(0.1 + +) + +Income from equity investments + +  + +— + +  + +  + +  + +11.6 + +  + +  + +  + +0.2 + +  + +  + +  + +11.6 + +  + +Interest and other income (expense), net + +  + +12.5 + +  + +  + +  + +(1.0 + +) + +  + +  + +18.0 + +  + +  + +  + +(1.7 + +) + +Income before income taxes + +  + +133.2 + +  + +  + +  + +6.4 + +  + +  + +  + +390.8 + +  + +  + +  + +256.8 + +  + +Income tax expense + +  + +41.4 + +  + +  + +  + +11.7 + +  + +  + +  + +49.6 + +  + +  + +  + +39.9 + +  + +Net income (loss) + +$ + +91.8 + +  + +  + +$ + +(5.3 + +) + +  + +$ + +341.2 + +  + +  + +$ + +216.9 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Basic net income (loss) per share + +$ + +0.24 + +  + +  + +$ + +(0.01 + +) + +  + +$ + +0.88 + +  + +  + +$ + +0.56 + +  + +Shares used to compute basic net income (loss) per share + +  + +386.3 + +  + +  + +  + +387.8 + +  + +  + +  + +389.4 + +  + +  + +  + +386.9 + +  + +Diluted net income (loss) per share + +$ + +0.22 + +  + +  + +$ + +(0.01 + +) + +  + +$ + +0.82 + +  + +  + +$ + +0.53 + +  + +Shares used to compute diluted net income (loss) per share + +  + +425.9 + +  + +  + +  + +387.8 + +  + +  + +  + +427.5 + +  + +  + +  + +428.8 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +* We adjusted our 2021 amounts to reflect the simplified convertible instruments accounting guidance (ASU 2020-06), which we adopted on a full retrospective basis. All periods presented have also been adjusted to reflect the four-for-one stock split. + +DexCom, Inc. + +Table C + +Revenue by Geography + +(Dollars in millions) + +(Unaudited) + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended +December 31, + +  + +Twelve Months Ended +December 31, + +  + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +U.S. revenue + +$ + +606.4 + +  + +  + +$ + +517.1 + +  + +  + +$ + +2,142.0 + +  + +  + +$ + +1,849.4 + +  + +Year over year growth + +  + +17 + +% + +  + +  + +15 + +% + +  + +  + +16 + +% + +  + +  + +23 + +% + +% of total revenue + +  + +74 + +% + +  + +  + +74 + +% + +  + +  + +74 + +% + +  + +  + +76 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +International revenue + +$ + +208.8 + +  + +  + +$ + +181.1 + +  + +  + +$ + +767.8 + +  + +  + +$ + +599.1 + +  + +Year over year growth + +  + +15 + +% + +  + +  + +54 + +% + +  + +  + +28 + +% + +  + +  + +44 + +% + +% of total revenue + +  + +26 + +% + +  + +  + +26 + +% + +  + +  + +26 + +% + +  + +  + +24 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +Total revenue (1) + +$ + +815.2 + +  + +  + +$ + +698.2 + +  + +  + +$ + +2,909.8 + +  + +  + +$ + +2,448.5 + +  + +Year over year growth + +  + +17 + +% + +  + +  + +23 + +% + +  + +  + +19 + +% + +  + +  + +27 + +% + +(1) The sum of the revenue components may not equal total revenue due to rounding. + +DexCom, Inc. + +Table D + +Revenue by Component + +(Dollars in millions) + +(Unaudited) + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended +December 31, + +  + +Twelve Months Ended +December 31, + +  + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +Sensor and other revenue (1) (2) + +$ + +714.8 + +  + +  + +$ + +598.6 + +  + +  + +$ + +2,522.3 + +  + +  + +$ + +2,065.3 + +  + +Year over year growth + +  + +19 + +% + +  + +  + +29 + +% + +  + +  + +22 + +% + +  + +  + +32 + +% + +% of total revenue + +  + +88 + +% + +  + +  + +86 + +% + +  + +  + +87 + +% + +  + +  + +84 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +Hardware revenue (1) (3) + +$ + +100.4 + +  + +  + +$ + +99.6 + +  + +  + +$ + +387.5 + +  + +  + +$ + +383.2 + +  + +Year over year growth + +  + +1 + +% + +  + +  + +(4 + +)% + +  + +  + +1 + +% + +  + +  + +5 + +% + +% of total revenue + +  + +12 + +% + +  + +  + +14 + +% + +  + +  + +13 + +% + +  + +  + +16 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +Total revenue (4) + +$ + +815.2 + +  + +  + +$ + +698.2 + +  + +  + +$ + +2,909.8 + +  + +  + +$ + +2,448.5 + +  + +Year over year growth + +  + +17 + +% + +  + +  + +23 + +% + +  + +  + +19 + +% + +  + +  + +27 + +% + +(1) Includes allocated subscription revenue. + +(2) Includes services, freight, accessories, Non-CGM acquired revenue, etc. + +(3) Includes transmitter and receiver revenue. + +(4) The sum of the revenue components may not equal total revenue due to rounding. + +DexCom, Inc. + +Table E + +Itemized Reconciliation Between GAAP and Non-GAAP Financial Measures + +(In millions, except per share data) + +(Unaudited) + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended +December 31, + +  + +Twelve Months Ended +December 31, + +  + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +  + +  + +  + +  + +(As Adjusted)* + +  + +  + +  + +(As Adjusted)* + +GAAP gross profit + +$ + +541.3 + +  + +  + +$ + +472.6 + +  + +  + +$ + +1,883.1 + +  + +  + +$ + +1,680.5 + +  + +Amortization of intangible assets (1) + +  + +2.4 + +  + +  + +  + +— + +  + +  + +  + +2.4 + +  + +  + +  + +— + +  + +Non-GAAP gross profit + +$ + +543.7 + +  + +  + +$ + +472.6 + +  + +  + +$ + +1,885.5 + +  + +  + +$ + +1,680.5 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP operating income + +$ + +125.4 + +  + +  + +$ + +0.6 + +  + +  + +$ + +391.2 + +  + +  + +$ + +265.8 + +  + +Amortization of intangible assets (1) + +  + +4.2 + +  + +  + +  + +1.4 + +  + +  + +  + +9.9 + +  + +  + +  + +3.7 + +  + +Business transition and related costs (2) + +  + +24.1 + +  + +  + +  + +— + +  + +  + +  + +39.5 + +  + +  + +  + +— + +  + +Intellectual property litigation costs (3) + +  + +18.4 + +  + +  + +  + +9.9 + +  + +  + +  + +44.5 + +  + +  + +  + +14.1 + +  + +Non-GAAP operating income + +$ + +172.1 + +  + +  + +$ + +11.9 + +  + +  + +$ + +485.1 + +  + +  + +$ + +283.6 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP net income (loss) + +$ + +91.8 + +  + +  + +$ + +(5.3 + +) + +  + +$ + +341.2 + +  + +  + +$ + +216.9 + +  + +Business transition and related costs (2) + +  + +23.9 + +  + +  + +  + +— + +  + +  + +  + +39.3 + +  + +  + +  + +— + +  + +Depreciation and amortization + +  + +36.3 + +  + +  + +  + +32.1 + +  + +  + +  + +155.9 + +  + +  + +  + +102.0 + +  + +Intellectual property litigation costs (3) + +  + +18.4 + +  + +  + +  + +9.9 + +  + +  + +  + +44.5 + +  + +  + +  + +14.1 + +  + +Income from equity investments (4) + +  + +— + +  + +  + +  + +(11.6 + +) + +  + +  + +(0.2 + +) + +  + +  + +(11.6 + +) + +Share-based compensation + +  + +34.0 + +  + +  + +  + +26.3 + +  + +  + +  + +126.5 + +  + +  + +  + +113.4 + +  + +Interest expense and interest income + +  + +(8.7 + +) + +  + +  + +4.2 + +  + +  + +  + +(5.2 + +) + +  + +  + +17.1 + +  + +Income tax expense + +  + +41.4 + +  + +  + +  + +11.7 + +  + +  + +  + +49.6 + +  + +  + +  + +39.9 + +  + +Adjusted EBITDA + +$ + +237.1 + +  + +  + +$ + +67.3 + +  + +  + +$ + +751.6 + +  + +  + +$ + +491.8 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP net income (loss) + +$ + +91.8 + +  + +  + +$ + +(5.3 + +) + +  + +$ + +341.2 + +  + +  + +$ + +216.9 + +  + +Amortization of intangible assets (1) + +  + +4.2 + +  + +  + +  + +1.4 + +  + +  + +  + +9.9 + +  + +  + +  + +3.7 + +  + +Business transition and related costs (2) + +  + +24.1 + +  + +  + +  + +— + +  + +  + +  + +39.5 + +  + +  + +  + +— + +  + +Intellectual property litigation costs (3) + +  + +18.4 + +  + +  + +  + +9.9 + +  + +  + +  + +44.5 + +  + +  + +  + +14.1 + +  + +Income from equity investments (4) + +  + +— + +  + +  + +  + +(11.6 + +) + +  + +  + +(0.2 + +) + +  + +  + +(11.6 + +) + +Adjustments related to taxes (5) + +  + +(2.2 + +) + +  + +  + +3.2 + +  + +  + +  + +(84.9 + +) + +  + +  + +(28.6 + +) + +Non-GAAP net income (loss) + +$ + +136.3 + +  + +  + +$ + +(2.4 + +) + +  + +$ + +350.0 + +  + +  + +$ + +194.5 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP net income (loss) + +$ + +91.8 + +  + +  + +$ + +(5.3 + +) + +  + +$ + +341.2 + +  + +  + +$ + +216.9 + +  + +Interest expense on senior convertible notes, net of tax + +  + +2.8 + +  + +  + +  + +— + +  + +  + +  + +11.0 + +  + +  + +  + +11.4 + +  + +GAAP net income (loss) used for diluted EPS, if-converted (6) + +$ + +94.6 + +  + +  + +$ + +(5.3 + +) + +  + +$ + +352.2 + +  + +  + +$ + +228.3 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Non-GAAP net income (loss) + +$ + +136.3 + +  + +  + +$ + +(2.4 + +) + +  + +$ + +350.0 + +  + +  + +$ + +194.5 + +  + +Interest expense on senior convertible notes, net of tax + +  + +1.2 + +  + +  + +  + +— + +  + +  + +  + +4.8 + +  + +  + +  + +— + +  + +Non-GAAP net income (loss) used for diluted EPS, if-converted (6) + +$ + +137.5 + +  + +  + +$ + +(2.4 + +) + +  + +$ + +354.8 + +  + +  + +$ + +194.5 + +  + +DexCom, Inc. + +Table E (Continued) + +Itemized Reconciliation Between GAAP and Non-GAAP Financial Measures + +(In millions, except per share data) + +(Unaudited) + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended +December 31, + +  + +Twelve Months Ended +December 31, + +  + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +  + +  + +  + +  + +(As Adjusted)* + +  + +  + +  + +(As Adjusted)* + +GAAP diluted net income (basic net loss) per share (6) + +$ + +0.22 + +  + +  + +$ + +(0.01 + +) + +  + +$ + +0.82 + +  + +  + +$ + +0.53 + +  + +Amortization of intangible assets (1) + +  + +0.01 + +  + +  + +  + +— + +  + +  + +  + +0.02 + +  + +  + +  + +0.01 + +  + +Business transition and related costs (2) + +  + +0.06 + +  + +  + +  + +— + +  + +  + +  + +0.10 + +  + +  + +  + +— + +  + +Intellectual property litigation costs (3) + +  + +0.05 + +  + +  + +  + +0.03 + +  + +  + +  + +0.11 + +  + +  + +  + +0.04 + +  + +Income from equity investments (4) + +  + +— + +  + +  + +  + +(0.03 + +) + +  + +  + +— + +  + +  + +  + +(0.03 + +) + +Adjustments related to taxes (5) + +  + +(0.01 + +) + +  + +  + +0.01 + +  + +  + +  + +(0.21 + +) + +  + +  + +(0.07 + +) + +Impact of adjustment to GAAP diluted shares (7) + +  + +— + +  + +  + +  + +— + +  + +  + +  + +0.01 + +  + +  + +  + +0.01 + +  + +Non-GAAP diluted net income (basic net loss) per share (6) (8) + +$ + +0.34 + +  + +  + +$ + +(0.01 + +) + +  + +$ + +0.87 + +  + +  + +$ + +0.49 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP diluted weighted-average shares outstanding + +  + +425.9 + +  + +  + +  + +387.8 + +  + +  + +  + +427.5 + +  + +  + +  + +428.8 + +  + +Non-GAAP diluted weighted-average shares outstanding + +  + +407.0 + +  + +  + +  + +387.8 + +  + +  + +  + +408.6 + +  + +  + +  + +400.4 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Reconciliation of non-GAAP diluted weighted-average shares outstanding: + +  + +  + +  + +  + +  + +  + +  + +GAAP diluted weighted-average shares outstanding + +  + +425.9 + +  + +  + +  + +387.8 + +  + +  + +  + +427.5 + +  + +  + +  + +428.8 + +  + +Adjustment for dilutive impact of senior convertible notes due 2023 (9) + +  + +(18.9 + +) + +  + +  + +— + +  + +  + +  + +(18.9 + +) + +  + +  + +(20.4 + +) + +Adjustment for dilutive impact of senior convertible notes due 2025 (10) + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +(8.0 + +) + +Non-GAAP diluted weighted-average shares outstanding + +  + +407.0 + +  + +  + +  + +387.8 + +  + +  + +  + +408.6 + +  + +  + +  + +400.4 + +  + +* + +We adjusted our 2021 amounts to reflect the simplified convertible instruments accounting guidance (ASU 2020-06), which we adopted on a full retrospective basis. The adoption eliminates the non-cash interest expense related to the conversion features of the convertible notes beginning in the first quarter of 2020. Further, beginning in the second quarter of 2022, we began including non-cash collaborative research and development fees incurred in our non-GAAP metrics. We have updated prior periods to conform to this new presentation. All periods presented have also been adjusted to reflect the four-for-one stock split. + +(1) + +Represents amortization of acquired intangible assets. + +(2) + +For the three months ended December 31, 2022, business transition and related costs are primarily related to vacating a building in San Diego, resulting in a non-cash impairment charge of $23 million. For the twelve months ended December 31, 2022, business transition and related costs are primarily related to consulting fees and expenses as the result of transitioning to a flexible working environment, including an impairment charge and accelerated depreciation of tenant improvements. + +(3) + +Represents costs related to a patent infringement lawsuit. + +(4) + +Represents a gain from the sale of an equity investment. + +(5) + +For the three months ended December 31, 2022, the tax adjustments were primarily related to the tax effect of non-GAAP adjustments. For the twelve months ended December 31, 2022, the tax adjustments were primarily related to excess tax benefits recognized from share-based compensation for employees and the Verily regulatory milestone payment. For the three and twelve months ended December 31, 2021, tax adjustments were primarily related to the excess tax benefits from share-based compensation for employees. + +(6) + +When our senior convertible notes are dilutive on a GAAP or non-GAAP basis, net income used for calculating GAAP and non-GAAP diluted net income per share includes an interest expense add back, net of tax, under the if-converted method. In loss periods, basic and diluted net loss per share are the same since the effect of potential common shares is anti-dilutive and therefore excluded. + +(7) + +The adjustment for the twelve months ended December 31, 2022 and December 31, 2021 is for the transition from GAAP diluted net income per share to non-GAAP diluted net income per share due to our 2023 and 2025 senior convertible notes. + +(8) + +The sum of the non-GAAP per share components may not equal the totals due to rounding. + +(9) + +Our 2023 senior convertible notes are dilutive on a GAAP basis for the three months ended December 31, 2022 and for the twelve months ended December 31, 2022 and 2021. Our 2023 senior convertible notes are anti-dilutive on a GAAP basis for the three months ended December 31, 2021. Our 2023 senior convertible notes are anti-dilutive on a non-GAAP basis for the three and twelve months ended December 31, 2022 and 2021. Our 2023 senior convertible notes are also hedged through an anti-dilutive bond hedge arrangement. + +(10) + +Our 2025 senior convertible notes are dilutive on a GAAP basis and non-GAAP basis for the three and twelve months ended December 31, 2022. Our 2025 senior convertible notes are anti-dilutive on a GAAP basis and non-GAAP basis for the three months ended December 31, 2021. Our 2025 senior convertible notes are anti-dilutive on a GAAP basis and dilutive on a non-GAAP basis for the twelve months ended December 31, 2021. + +ABOUT NON-GAAP FINANCIAL MEASURES + +The accompanying press release dated February 9, 2023 contains non-GAAP financial measures. These non-GAAP financial measures include non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss), and non-GAAP net income (loss) per share as well as adjusted EBITDA. + +We use these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. We believe that they provide useful information about operating results, enhance the overall understanding of our operating performance and future prospects, and allow for greater transparency with respect to key metrics used by senior management in our financial and operational decision making. Our non-GAAP financial measures exclude amounts that we do not consider part of ongoing operating results when planning and forecasting and when assessing the performance of the organization and our senior management. We compute non-GAAP financial measures using the same consistent method from quarter to quarter and year to year. We may consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures. + +We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with Generally Accepted Accounting Principles (GAAP). These non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles, differ from GAAP measures with the same names, and may differ from non-GAAP financial measures with the same or similar names that are used by other companies. We believe that non-GAAP financial measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP financial measures. We encourage investors to carefully consider our results under GAAP, as well as our supplemental non-GAAP information and the reconciliations between these presentations, to more fully understand our business. + +Management believes that presentation of operating results that excludes these items provides useful supplemental information to investors and facilitates the analysis of our core operating results and comparison of operating results across reporting periods. Management also believes that this supplemental non-GAAP information is therefore useful to investors in analyzing and assessing our past and future operating performance. + +Table E reconciles the non-GAAP financial measures in the press release to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). + +We exclude the following items from non-GAAP financial measures for non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss), and non-GAAP net income (loss) per share: + +Adjusted EBITDA excludes non-cash operating charges for share-based compensation, depreciation and amortization as well as non-operating items such as interest income, interest expense, loss on extinguishment of debt, income and loss from equity investments, and income tax expense or benefit. For the reasons explained above, adjusted EBITDA also excludes business transition and related costs, COVID-19 costs, litigation settlement costs, and intellectual property litigation costs. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005231/en/ \ No newline at end of file diff --git a/news/DXCM/2023.02.10/PayPal, DexCom rise; Expedia, Lyft fall.txt b/news/DXCM/2023.02.10/PayPal, DexCom rise; Expedia, Lyft fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..9625c06ac8e4b94f696f0298064ee4dca7f96fa9 --- /dev/null +++ b/news/DXCM/2023.02.10/PayPal, DexCom rise; Expedia, Lyft fall.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Friday:PayPal Holdings Inc., up $2.38 to $80.80.The digital payments platform gave investors a strong profit forecast.DexCom Inc., up $10.65 to $117.89.The medical device company reported strong fourth-quarter financial results.Cloudflare Inc., up $1.93 to $60.10.The San Francisco-based internet security firm gave investors an encouraging financial forecast.Expedia Group Inc., down $10.07 to $107.64.The online travel company's fourth-quarter financial results fell short of analysts' forecasts.Lyft Inc., down $5.91 to $10.31.The ride-hailing service reported a surprisingly big fourth-quarter loss and gave investors a weak revenue forecast.Newell Brands Inc., up 17 cents to $14.77.The owner of Elmer's glue, Coleman camping gear and other brands named Chris Peterson as its new CEO to replace Ravi Saligram.Honda Motor Co., up 59 cents to $25.13.The Japanese automaker beat Wall Street's fourth-quarter earnings and revenue forecasts.RBC Bearings Inc., up $4.50 to $236.50.The Connecticut-based precision bearing manufacturer reported strong fiscal third-quarter financial results.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/DXCM/2023.02.13/Dexcom G7 Continuous Glucose Monitoring System Will Be Available to Medicare Beneficiar...txt b/news/DXCM/2023.02.13/Dexcom G7 Continuous Glucose Monitoring System Will Be Available to Medicare Beneficiar...txt new file mode 100644 index 0000000000000000000000000000000000000000..2def0e648d3fe4a5aa4251a6a507da4247a18299 --- /dev/null +++ b/news/DXCM/2023.02.13/Dexcom G7 Continuous Glucose Monitoring System Will Be Available to Medicare Beneficiar...txt @@ -0,0 +1,29 @@ + +Dexcom, Inc. (NASDAQ:DXCM), the global leader in real-time continuous glucose monitoring for people with diabetes, announced today its next-generation Dexcom G7 CGM System will be covered for Medicare beneficiaries.† Having met the category requirements for therapeutic CGM systems set forth by the U.S. Centers for Medicare & Medicaid Services, Dexcom G7 will be accessible to all Medicare patients with diabetes who meet the eligibility criteria when the system launches this Friday, Feb. 17. + +“When we set out to design G7, our goal was simple: to make the most accurate, easy-to-use CGM available for as many people with diabetes as possible,” said Kevin Sayer, chairman, president and CEO of Dexcom. “The approval of Medicare coverage for G7 helps us deliver on that promise. Now Medicare patients with Type 1 and Type 2 diabetes will have access to the newest CGM technology that offers the most reliable, simple way to help people manage their diabetes more confidently.” + +The most accurate,1 easy to use CGM available will be covered by Medicare at launch. + +With Dexcom G7, the #1 recommended CGM brand8,9 now offers the most accurate1 and simple way to help people gain greater control of their diabetes. Its low-profile, all-in-one wearable warms up faster than any other CGM on the market,‡ sending real-time glucose readings automatically to a compatible smart device§ or receiver, no painful fingersticks* or burdensome scanning required. With an overall MARD of 8.2%, Dexcom G7 is the most accurate CGM on the market,1 building on the trusted performance of Dexcom CGM, which is clinically proven to lower A1C, reduce hyper- and hypoglycemia and increase time in range.2-6 + +New features with Dexcom G7: + +  + +Dexcom G6 features included with Dexcom G7: + +  + +People with diabetes in the US, including Medicare patients, can visit Dexcom.com/G7 today to get started with Dexcom G7. The system will be available on Feb. 17. + +About Dexcom, Inc. + +Dexcom, Inc. empowers people to take control of health through innovative continuous glucose monitoring systems. Headquartered in San Diego, California, Dexcom has emerged as a leader of diabetes care technology. By listening to the needs of users, caregivers and providers, Dexcom simplifies and improves diabetes management around the world. For more information about Dexcom, visit dexcom.com/about-dexcom. + +*Fingersticks required for diabetes treatment decisions if symptoms or expectations do not match readings. + +†Under Medicare’s DME fee schedule, reimbursement for CGMs, using CPT codes E2103 and A4239, is the same, regardless of CGM brand. Regulation at 42 CFR 410.152(b), stipulates that coinsurance for items of durable medical equipment is 20% of the allowed amount. ‡Dexcom G7 can complete warmup within 30 minutes, whereas other CGM brands require up to an hour or longer. §Compatible smart devices sold separately. To view a list of compatible smart devices, visit dexcom.com/compatibility. ||Compared to a prior generation Dexcom CGM System. ¶An internet connection is required to send data to Dexcom Clarity. #User must first sync their Dexcom G7 data with the Dexcom Clarity app and consent to share their data with their healthcare provider. **Separate Follow app and internet connection required. Users should always confirm readings on the Dexcom CGM System app or receiver before making treatment decisions. + +1 Dexcom, data on file, 2022. 2 Welsh JB, et al. J Diabetes Sci Technol. 2022:19322968221099879. 3 Gilbert TR, et al. Diabetes Technol Ther. 2021;23(S1):S35-S39. 4 Beck RW, et al. JAMA. 2017;317(4):371-378. 5 Beck RW, et al. Ann Intern Med. 2017;167(6):365-374. 6 Martens T, et al. JAMA. 2021;325(22):2262-2272. 7 Managed Markets Insights & Technology, LLC. MMIT Analytics, June 2022. 8 d&A US Q1 2021 Diabetes Connections Patient Panel Report.2021;69-72. 9 Seagrove HCP Survey Q1 2021. 2021;65. 10 Shah VN, et al. Diabetes Technol Ther. 2018;20(6):428-433. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230213005189/en/ \ No newline at end of file diff --git a/news/DXCM/2023.02.21/Dexcom G6 Continuous Glucose Monitoring System Launches in Singapore.txt b/news/DXCM/2023.02.21/Dexcom G6 Continuous Glucose Monitoring System Launches in Singapore.txt new file mode 100644 index 0000000000000000000000000000000000000000..f5541076c8af0458e410cbfb6099127dd29c4194 --- /dev/null +++ b/news/DXCM/2023.02.21/Dexcom G6 Continuous Glucose Monitoring System Launches in Singapore.txt @@ -0,0 +1,29 @@ + +Dexcom, Inc. (NASDAQ:DXCM), a global leader in real-time continuous glucose monitoring (CGM) for people with diabetes, announced today the launch of its Dexcom G6 CGM System in Singapore for people with diabetes ages two years and older, including pregnant women, and the appointment of DKSH Singapore Pte Ltd as sales, marketing, and distribution service provider. + +The Dexcom G6 uses a small, wearable sensor and transmitter to continuously measure and send glucose levels wirelessly to a receiver or compatible smart device*, enabling patients to receive real-time glucose data without the need to prick their finger†. The system also offers customizable alerts and alarms to help avoid dangerous low and high blood sugar events. + +"The launch of Dexcom G6 in Singapore is a significant milestone for our company," said Scott Moss, VP at Dexcom, Asia-Pacific. "This launch marks the first time Dexcom CGM is available to people living with diabetes in Southeast Asia, and with the recent opening of our regional headquarters in Singapore, we look forward to bringing Dexcom CGM to additional markets in the region in the near future." + +The Dexcom G6 app for compatible iOS and Android devices* also allows patients to share their glucose information with up to ten followers‡, enabling family, loved ones, and healthcare providers to remotely monitor patients for extra peace of mind. + +Dexcom G6 features that empower users to take control of their health: + +The Dexcom G6 CGM System connects to the Dexcom G6 app, available for download from the Apple App Store or Google Play store, for use with a compatible Apple or Android smart device. Alternatively, patients can see glucose readings on the optional Dexcom G6 touch screen receiver that can be purchased separately. + +Dexcom G6 CGM received its approval from Singapore’s HSA late last year and can now be accessed by Singaporeans this month. For more information on Dexcom G6, visit www.dexcom.com/sg. + +About Dexcom, Inc. + +DexCom, Inc. empowers people to take real-time control of health through innovative continuous glucose monitoring (CGM) systems. Headquartered in San Diego, Calif., and with operations across Europe and select parts of Asia/Oceania, Dexcom has emerged as a leader of diabetes care technology. By listening to the needs of users, caregivers, and providers, Dexcom works to simplify and improve diabetes management around the world. For more information on Dexcom, visit https://www.dexcom.com/en-us/about-dexcom. + +_________________________ + +*For a list of compatible devices, visit www.dexcom.com/compatibility. + +†If your glucose alerts and readings from the G6 do not match symptoms or expectations, use a blood glucose meter to make diabetes treatment decisions. + +‡Separate Follow app required. + +§G6 readings can be used to make diabetes treatment decisions when taking up to a maximum acetaminophen dose of 1,000mg every 6 hours. Taking a higher dose may affect the G6 readings. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005937/en/ \ No newline at end of file diff --git a/news/DXCM/2023.02.22/Dexcom Showcases Accuracy, Simplicity and Connectivity of Its CGM Portfolio at ATTD Con...txt b/news/DXCM/2023.02.22/Dexcom Showcases Accuracy, Simplicity and Connectivity of Its CGM Portfolio at ATTD Con...txt new file mode 100644 index 0000000000000000000000000000000000000000..ced6c0d475ee90f306d34051d3ec3d3aff5e1bd2 --- /dev/null +++ b/news/DXCM/2023.02.22/Dexcom Showcases Accuracy, Simplicity and Connectivity of Its CGM Portfolio at ATTD Con...txt @@ -0,0 +1,43 @@ + +DexCom, Inc. (NASDAQ: DXCM), the global leader in real-time continuous glucose monitoring (CGM) for people with diabetes, will showcase the strength of its CGM portfolio and unveil new clinical and real-world evidence that continues to demonstrate the effectiveness of Dexcom CGM at the 16th International Conference on Advanced Technologies and Treatments for Diabetes held Feb. 22-25, 2023 in Berlin. + +“Last year at ATTD we first introduced our expanded portfolio of Dexcom CGM systems,” said Jake Leach, executive vice president and chief operating officer of Dexcom. “Almost one year later we are thrilled to report that Dexcom G7 is already available in eight countries, Dexcom ONE has played a significant role in helping expand CGM coverage for millions more people with diabetes and Dexcom G6 continues to lead the industry in connectivity with automated insulin delivery systems and digital health apps.” + +Dexcom G7, the most powerful and simple CGM, is now available in the United States, Germany, the United Kingdom, Ireland, Austria, Hong Kong, New Zealand and South Africa with additional launches planned in 2023. Feedback from initial Dexcom G7 users has been extremely positive, with consistent praise for the 60% smaller wearable,* shortest warmup period on the market† and more engaging and consumer-friendly mobile app. In addition, 97% of initial users surveyed found Dexcom G7 easy to use.2 + +Dexcom ONE continues to help expand access to CGM globally by providing a simple and accurate‡,3 option to meet the diverse needs of customers, clinicians, and payers around the world. This has been a key element of the company’s global access initiatives, which expanded reimbursed coverage to Dexcom CGM outside the US by more than 3.5 million lives over the past 18 months. From Spain to Estonia and the UK, more and more people living with diabetes are gaining access to real-time CGM as Dexcom ONE continues to launch in additional markets. + +Dexcom G6 is the most connected CGM system in the world,4 with hundreds of thousands of users now connected to insulin pumps, pens and digital health apps.§ Dexcom’s ecosystem enables greater customer choice through partnerships with multiple automated insulin delivery systems and an API infrastructure that allows connectivity to several digital health partners, such as Garmin, Sugarmate, Glooko and Happy Bob. The company’s connectivity platform is helping make diabetes management more convenient than ever before for Dexcom G6 users. + +In addition, new clinical and real-world evidence continues to affirm the use of Dexcom CGM is central to optimal diabetes management, while helping to expand CGM access and use in new populations. Some of the most recent evidence showcasing the effectiveness of Dexcom CGM will be highlighted in posters, presentations and during the Dexcom Symposia at ATTD. + +Dexcom Symposia Overview + +Dexcom Continues to Lead in CGM Technology Across the Diabetes Spectrum +Thursday, February 23, 2023, 3:00 – 4:30 PM CET, in Plenary Hall A6 +Moderated by Daniel Chernavvsky, MD + +Dexcom CGM: Transforming the Course of Care for Type 2 Diabetes +Friday, February 24, 2023, 8:00 – 8:50 AM CET, in Hall A3 +Moderated by Noriko Kodani, MD, PhD + +Ahead of the Curve: Inpatient Use of Dexcom G6 and Automated Insulin Delivery Systems +Friday, February 24, 2023, 4:40 – 6:00 PM CET, in Hall A5 +Moderated by Erin Cobry, MD + +For more information about these presentations and to register to virtually attend the conference, visit https://attd.kenes.com/. + +About DexCom, Inc. + +DexCom, Inc. empowers people to take real-time control of health through innovative continuous glucose monitoring (CGM) systems. Headquartered in San Diego, Calif., and with operations across Europe and select parts of Asia/Oceania, Dexcom has emerged as a leader of diabetes care technology. By listening to the needs of users, caregivers, and providers, Dexcom works to simplify and improve diabetes management around the world. For more information on Dexcom, visit https://www.dexcom.com/en-us/about-dexcom. + +*Compared to a prior generation Dexcom CGM System. +†Dexcom G7 can complete warmup within 30 minutes, whereas other CGM brands require up to an hour or longer. +‡Results obtained with Dexcom G6 study, which uses the same applicator and sensor (and algorithm) as Dexcom ONE. +§To learn more about insulin pump integrations and compatibility with Dexcom CGM Systems, visit dexcom.com/integrate. + +1 Dexcom G7, Dexcom G6 and Dexcom ONE CGM System User Guides. +2 Dexcom, data on file, 2021. +3 Shah V et al. Diabetes Technol Ther. 2018;20(6):428-433. +4 Dexcom, data on file, 2022. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005809/en/ \ No newline at end of file diff --git a/news/DXCM/2023.02.23/Dexcom Announces Upcoming Conference Presentations.txt b/news/DXCM/2023.02.23/Dexcom Announces Upcoming Conference Presentations.txt new file mode 100644 index 0000000000000000000000000000000000000000..fb07b876a5c1b908049ef562b96e95f59a9c3f20 --- /dev/null +++ b/news/DXCM/2023.02.23/Dexcom Announces Upcoming Conference Presentations.txt @@ -0,0 +1,9 @@ + +DexCom, Inc. (NASDAQ:DXCM) today announced that management will present an update on the company at the following upcoming investor conferences: + +Links to the webcast will be available on the Dexcom Investor Relations website at investors.dexcom.com and will be archived there for future reference. + +About DexCom, Inc. + +DexCom, Inc. empowers people to take real-time control of diabetes through innovative continuous glucose monitoring (CGM) systems. Headquartered in San Diego, California, and with operations across Europe and select parts of Asia/Oceania, Dexcom has emerged as a leader of diabetes care technology. By listening to the needs of users, caregivers, and providers, Dexcom simplifies and improves diabetes management around the world. For more information about Dexcom CGM, visit www.dexcom.com. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005174/en/ \ No newline at end of file diff --git a/news/DXCM/2023.02.28/What Do Sanofi And Dexcom See In DarioHealth That The Market Is Missing?.txt b/news/DXCM/2023.02.28/What Do Sanofi And Dexcom See In DarioHealth That The Market Is Missing?.txt new file mode 100644 index 0000000000000000000000000000000000000000..eace201305c55e7be969a61ee9868b9bc53b7a6d --- /dev/null +++ b/news/DXCM/2023.02.28/What Do Sanofi And Dexcom See In DarioHealth That The Market Is Missing?.txt @@ -0,0 +1 @@ +(via NewsDirect)Dexcom and Dario think alike when it comes to the elements of an effective solution: user engagement, health outcomes, and return on investment.Diabetics are likely to have more than one chronic condition, Dario’s engaging and highly rated multi-chronic condition platform leads to better clinical outcomes and delivers a measurable ROI.Dario’s platform leapfrogs Dexcom’s mission (slide 24)“Where the company is going: Type 2 Non-Insulin, Pre-Diabetes, Patient Monitoring, and Health & Wellness”.The integration with Dexcom builds on thecollaborationbetween Dario and Sanofi US which aims to establish an ecosystem of dedicated technology partners and industry-leading digital therapeutics solutions.Market overlooking global industry leaders: Sanofi, Aetna, and now Dexcom validating DarioHealth’s revolutionization in healthcare management of people with single or multi-chronic conditions through a user-centric platform.DarioHealth is a leading digital therapeutics (DTx) company revolutionizing how people with chronic conditions manage their health through a user-centric multi-chronic condition platform. Dario’s platform and suite of solutions deliver personalized and dynamic interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain, and behavioral health. Dario provides its highly user rated solutions globally to health plans and other payors, self-insured employers, providers of care and directly to consumers.Dario’s user-centric platform offers people continuous and customized care for health, disrupting the traditional, doctor centric, episodic approach to healthcare. Dario’s platform empowers people to holistically adapt their lifestyles for sustainable behavior change, driving exceptional user satisfaction, retention, and improved health outcomes which result in a measurable ROI to payors.Dexcom CGM uses a small, wearable sensor to continuously measure and send glucose levels to a receiver or smart device, enabling people with diabetes to make real-time decisions about their health. This agreement enables the integration of data from Dexcom CGMs directly into Dario's metabolic solution, making it easy for people using the wearable device to benefit from Dario's highly personalized support.The integration with Dexcom builds on the collaboration between Dario and Sanofi US which aims to establish an ecosystem of dedicated technology partners and industry-leading digital therapeutics solutions. On March 1, 2022, Dario entered a multi-year $30 million-dollar strategic agreement with Sanofi U.S.(EURONEXT: SAN and NASDAQ: SNY) designed to accelerate commercial adoption and drive the expansion of digital health solutions on the Dario platform. Sanofi selected Dario to leverage its broad suite of digital therapeutics and its ability to engage patients for favorable clinical and financial outcomes, as the solution of choice for its U.S. commercial clients.Strategic partnerships with Sanofi, Virgin Pulse, Solera and Alliant give Dario access to more than 10,000 employers and more than 50 health plans as potential clients for the platform.Dario’s preliminary results demonstrate successful B2C to B2B transformation.Total revenue for the year is expected to be $27.5 million compared to $20.5 million in 2021. Higher revenues on lower spend demonstrates that the strategy of moving from B2C to B2B sales channels has resulted in an overall significant improvement in the financial profile of the Company. The Company reduced its operating loss by more than 30% compared to the third quarter ended September 30, 2022, and by more than 50% compared to the fourth quarter of 2021. DarioHealth had $49.3 million of cash and cash equivalents at the end of 2022.Dexcom’s global leadership position in CGM delivers solid resultsOn February 9th, 2023, Dexcom Reported 2022 Financial Results. Full year revenue grew 19% to $2.91 billion. GAAP operating income totaled $391.2 million or 13.4% of revenue. Dexcom delivered record new customer starts, drove multiple new product launches, and significantly expanded access to Dexcom CGM around the world. As of December 31, 2022, Dexcom held $2.46 billion in cash or equivalents.Sanofi delivers strong sales performance and double digit EPS growthOn February 3rd, 2023, Sanofi (EURONEXT: SAN and NASDAQ: SNY) reported full year 2022 results highlighting 7% sales growth to 43 Billion Euro and 17% EPS growth. Free cash flow from operations totaled 8.5 Billion Euro. Sanofi is an innovative global healthcare company chasing miracles of science to improve people’s lives. 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It is possible that an investor's investment may be lost or due to the speculative nature of the companies profiled. RazorPitch is responsible for the production and distribution of this content. RazorPitch is not operated by a licensed broker, a dealer, or a registered investment advisor. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. RazorPitch authors, contributors, or its agents, may be compensated for preparing research, video graphics, and editorial content. RazorPitch has not been compensated to produce and syndicate this content. As part of that content, readers, subscribers, and webs are expected to read the full disclaimers and financial disclosure statement that can be found on our website.This summary report was prepared by RCA Financial Partners and distributed by RazorPitch. RCA Financial Partners is not a securities broker-dealer, an investment adviser, or a bank, and, accordingly, this report is not subject to FINRA or SEC rules regarding broker-dealer securities research, nor to the regulations to which investment advisers or banks are subject, including regulations regarding independence of written communications. RCA has been retained and compensated by the subject company of this report. This report does not constitute, and should not be construed as an independent analysis of the subject company, or as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. This report is published without regard to the specific needs of any person, and it does not take into account the particular financial situation or needs of any individual. Readers should seek professional financial advice, including tax advice, before taking any investment decision. This report is based on information that we believe to be reliable, but RCA Financial Partners does not make any express or implied representation or warranty as to the completeness, reliability, or accuracy of information contained in this report, or of information used to create this report.Further important disclosures and disclaimers are available at: www.rcafinancialpartners.com/about-us/legal-disclaimer/Mark McKelvie+1 585-301-7700http://razorpitch.comCopyright (c) 2023 TheNewswire - All rights reserved.Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases \ No newline at end of file diff --git a/news/DXCM/2023.03.01/What Do Sanofi And Dexcom See In DarioHealth That The Market Is Missing?.txt b/news/DXCM/2023.03.01/What Do Sanofi And Dexcom See In DarioHealth That The Market Is Missing?.txt new file mode 100644 index 0000000000000000000000000000000000000000..eace201305c55e7be969a61ee9868b9bc53b7a6d --- /dev/null +++ b/news/DXCM/2023.03.01/What Do Sanofi And Dexcom See In DarioHealth That The Market Is Missing?.txt @@ -0,0 +1 @@ +(via NewsDirect)Dexcom and Dario think alike when it comes to the elements of an effective solution: user engagement, health outcomes, and return on investment.Diabetics are likely to have more than one chronic condition, Dario’s engaging and highly rated multi-chronic condition platform leads to better clinical outcomes and delivers a measurable ROI.Dario’s platform leapfrogs Dexcom’s mission (slide 24)“Where the company is going: Type 2 Non-Insulin, Pre-Diabetes, Patient Monitoring, and Health & Wellness”.The integration with Dexcom builds on thecollaborationbetween Dario and Sanofi US which aims to establish an ecosystem of dedicated technology partners and industry-leading digital therapeutics solutions.Market overlooking global industry leaders: Sanofi, Aetna, and now Dexcom validating DarioHealth’s revolutionization in healthcare management of people with single or multi-chronic conditions through a user-centric platform.DarioHealth is a leading digital therapeutics (DTx) company revolutionizing how people with chronic conditions manage their health through a user-centric multi-chronic condition platform. Dario’s platform and suite of solutions deliver personalized and dynamic interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain, and behavioral health. Dario provides its highly user rated solutions globally to health plans and other payors, self-insured employers, providers of care and directly to consumers.Dario’s user-centric platform offers people continuous and customized care for health, disrupting the traditional, doctor centric, episodic approach to healthcare. Dario’s platform empowers people to holistically adapt their lifestyles for sustainable behavior change, driving exceptional user satisfaction, retention, and improved health outcomes which result in a measurable ROI to payors.Dexcom CGM uses a small, wearable sensor to continuously measure and send glucose levels to a receiver or smart device, enabling people with diabetes to make real-time decisions about their health. This agreement enables the integration of data from Dexcom CGMs directly into Dario's metabolic solution, making it easy for people using the wearable device to benefit from Dario's highly personalized support.The integration with Dexcom builds on the collaboration between Dario and Sanofi US which aims to establish an ecosystem of dedicated technology partners and industry-leading digital therapeutics solutions. On March 1, 2022, Dario entered a multi-year $30 million-dollar strategic agreement with Sanofi U.S.(EURONEXT: SAN and NASDAQ: SNY) designed to accelerate commercial adoption and drive the expansion of digital health solutions on the Dario platform. Sanofi selected Dario to leverage its broad suite of digital therapeutics and its ability to engage patients for favorable clinical and financial outcomes, as the solution of choice for its U.S. commercial clients.Strategic partnerships with Sanofi, Virgin Pulse, Solera and Alliant give Dario access to more than 10,000 employers and more than 50 health plans as potential clients for the platform.Dario’s preliminary results demonstrate successful B2C to B2B transformation.Total revenue for the year is expected to be $27.5 million compared to $20.5 million in 2021. Higher revenues on lower spend demonstrates that the strategy of moving from B2C to B2B sales channels has resulted in an overall significant improvement in the financial profile of the Company. The Company reduced its operating loss by more than 30% compared to the third quarter ended September 30, 2022, and by more than 50% compared to the fourth quarter of 2021. DarioHealth had $49.3 million of cash and cash equivalents at the end of 2022.Dexcom’s global leadership position in CGM delivers solid resultsOn February 9th, 2023, Dexcom Reported 2022 Financial Results. Full year revenue grew 19% to $2.91 billion. GAAP operating income totaled $391.2 million or 13.4% of revenue. Dexcom delivered record new customer starts, drove multiple new product launches, and significantly expanded access to Dexcom CGM around the world. As of December 31, 2022, Dexcom held $2.46 billion in cash or equivalents.Sanofi delivers strong sales performance and double digit EPS growthOn February 3rd, 2023, Sanofi (EURONEXT: SAN and NASDAQ: SNY) reported full year 2022 results highlighting 7% sales growth to 43 Billion Euro and 17% EPS growth. Free cash flow from operations totaled 8.5 Billion Euro. Sanofi is an innovative global healthcare company chasing miracles of science to improve people’s lives. The Company provides potentially life-changing treatment options and life-saving vaccine protection to millions of people globally, sustainably and socially responsible.RCA Financial Partners Inc. ("RCA Partners" or "we" is a consulting and advisory firm to small public and pre-IPO data resource innovators at the critical inflection point where proven technology requires prudent financing for success. We help our clients connect with well informed investors. To learn more about RCA Financial Partners and its data resource innovators, visit www.rcafinancialpartners.com.Disclaimers: This article contains sponsored content. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, assumptions, objectives, goals, assumptions of future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements, indicating certain actions & quotes; may, could or might occur Understand there is no guarantee past performance is indicative of future results. Investing in micro-cap or growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor's investment may be lost or due to the speculative nature of the companies profiled. RazorPitch is responsible for the production and distribution of this content. RazorPitch is not operated by a licensed broker, a dealer, or a registered investment advisor. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. RazorPitch authors, contributors, or its agents, may be compensated for preparing research, video graphics, and editorial content. RazorPitch has not been compensated to produce and syndicate this content. As part of that content, readers, subscribers, and webs are expected to read the full disclaimers and financial disclosure statement that can be found on our website.This summary report was prepared by RCA Financial Partners and distributed by RazorPitch. RCA Financial Partners is not a securities broker-dealer, an investment adviser, or a bank, and, accordingly, this report is not subject to FINRA or SEC rules regarding broker-dealer securities research, nor to the regulations to which investment advisers or banks are subject, including regulations regarding independence of written communications. RCA has been retained and compensated by the subject company of this report. This report does not constitute, and should not be construed as an independent analysis of the subject company, or as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. This report is published without regard to the specific needs of any person, and it does not take into account the particular financial situation or needs of any individual. Readers should seek professional financial advice, including tax advice, before taking any investment decision. This report is based on information that we believe to be reliable, but RCA Financial Partners does not make any express or implied representation or warranty as to the completeness, reliability, or accuracy of information contained in this report, or of information used to create this report.Further important disclosures and disclaimers are available at: www.rcafinancialpartners.com/about-us/legal-disclaimer/Mark McKelvie+1 585-301-7700http://razorpitch.comCopyright (c) 2023 TheNewswire - All rights reserved.Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases \ No newline at end of file diff --git a/news/EA/2023.01.10/Game Developer -SkyBox Labs is joining NetEase Games.txt b/news/EA/2023.01.10/Game Developer -SkyBox Labs is joining NetEase Games.txt new file mode 100644 index 0000000000000000000000000000000000000000..359c8181395cd5b34e192d8e65e1698d0c4623fb --- /dev/null +++ b/news/EA/2023.01.10/Game Developer -SkyBox Labs is joining NetEase Games.txt @@ -0,0 +1 @@ +Canadian studio joins forces with Chinese publishing behemoth.Founded in 2011, SkyBox Labs is a game studio based in Burnaby and Victoria, Canada that has developed titles alongside some of the world's top publishers including Xbox Game Studios, Wizards of the Coast, and Electronic Arts.The studio will continue to work closely with their existing co-development partners, and will be adding new partners in the future.With support from NetEase Games, SkyBox Labs will continue to operate independently, working closely with existing and new partners to pursue creative opportunities and co-develop titles in the PC and console spaceHangzhou, China, January 6, 2023 - NetEase, Inc. (NASDAQ: NTES, HKEX: 9999), a leading internet and game services provider, has announced that its game division, NetEase Games, has acquired SkyBox Labs, a Canadian-based game studio.SkyBox Labs will continue to operate independently within NetEase Games under the leadership of its three co-founders Shyang Kong, Derek MacNeil and Steven Silvester, and provide a full range of game development services to current and future partners.Shyang Kong, co-founder of SkyBox Labs, says: 'Over the last decade, we've had the pleasure to work on beloved games such as Halo Infinite, Minecraft, and Fallout 76. We remain committed to growing our presence in Canada, supporting our current and future partners, and co-developing more AAA games for some of the biggest game studios around the world. We have built a team of talented individuals who are passionate and creative, and by joining NetEase Games, we will also be able to accelerate our plans to pursue new creative opportunities, and enjoy access to world-class operational resources and the full breadth and depth of NetEase's services so we can scale faster in Canada.'Simon Zhu, president of global investment and partnerships, NetEase Games, says: 'We are thrilled to welcome SkyBox Labs to the NetEase Games family and are committed to creating an environment that allows them to thrive and operate independently as a game studio. We were impressed with their extensive experience in game development and are great admirers of their past work on some of the world's leading franchises. We look forward to working with the SkyBox Labs co-founders and providing the resources needed to help them grow their presence in Canada as they continue to support top creators around the world in developing unforgettable gaming experiences for players.'NetEase will support the studio with resources and execution capabilities so that SkyBox Labs can achieve faster scale while maintaining the quality of work the studio is known for.SkyBox Labs will continue to grow, retain staff and hire new employees in Canada across all disciplines of game development, including art, engineering, design, production, and QA. NetEase and SkyBox Labs are committed to supporting local communities in Canada, participating in cultural events and other activities.About NetEase, Inc.As a leading internet technology company based in China, NetEase, Inc. (NASDAQ: NTES and HKEX:9999, 'NetEase') provides premium online services centered around content creation. With extensive offerings across its expanding gaming ecosystem, the Company develops and operates some of China's most popular and longest running mobile and PC games. Powered by industry-leading in-house R&D capabilities in China and globally, NetEase creates superior gaming experiences, inspires players, and passionately delivers value for its thriving community worldwide. By infusing play with culture and education with technology, NetEase transforms gaming into a meaningful vehicle to build a more entertaining and enlightened world.Beyond games, NetEase service offerings include its majority-controlled subsidiaries Youdao (NYSE: DAO), China's leading technology-focused intelligent learning company, and Cloud Music (HKEX: 9899), China's leading online music content community, as well as Yanxuan, NetEase's private label consumer lifestyle brand.NetEase's ESG initiatives are among the best in the global media and entertainment industry, earning it a distinction as one of the S&P Global Industry Movers and an 'A' rating from MSCI. For more information, please visit: http://ir.netease.com/.About NetEase GamesNetEase Games is the games division of NetEase, Inc. (NASDAQ: NTES and HKEX: 9999), developing and operating some of the most popular mobile and PC games in markets including China and Japan. As one of the world's largest incubators of high quality gaming content, NetEase Games is dedicated to supporting the growth of innovative studios around the globe and growing an international presence along the way. To complement its self-developed games and world-class R&D capabilities, NetEase Games also partners with global game developers to operate some of the most popular international online games in China. For more information, please visit neteasegames.com.About SkyBox LabsSkyBox Labs is a full-service game development studio originally founded in 2011. They have worked alongside some of the world's top publishers, including Xbox Game Studios, Wizards of the Coast and Electronic Arts. They have two offices in Burnaby, in addition to their office in Victoria. Visit https://skyboxlabs.com for more information.(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/EA/2023.01.11/EA to Release Third Quarter Fiscal Year 2023 Results on January 31, 2023.txt b/news/EA/2023.01.11/EA to Release Third Quarter Fiscal Year 2023 Results on January 31, 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..cae4e93388cb6ee913f53a627f6c3868a88d0f7d --- /dev/null +++ b/news/EA/2023.01.11/EA to Release Third Quarter Fiscal Year 2023 Results on January 31, 2023.txt @@ -0,0 +1,28 @@ + +Electronic Arts Inc. (NASDAQ: EA) will release its financial results for the fiscal quarter ended December 31, 2022 after the close of market on Tuesday, January 31, 2023. In conjunction with this release, EA will host a conference call to review its financial results for the fiscal quarter, discuss its outlook for the future and may disclose other material developments affecting its business and/or financial performance. Listeners may access the conference call live via a dial-in number or audio webcast. + +Tuesday, January 31, 2023 +2:00 pm Pacific Time (5:00 pm Eastern Time) + +Dial-in numbers: +Domestic: (888) 330-2446; International: (240) 789-2732 +Conference ID: 5939891 + +Webcast: http://ir.ea.com + +EA’s financial results release will be available after the close of market on January 31, 2023 on EA’s website at http://ir.ea.com. A dial-in replay of the conference call will be available until February 15, 2023 at (800) 770-2030 (domestic) or (647) 362-9199 (international) using pin code 5939891. An audio webcast replay of the conference call will be available for one year at http://ir.ea.com. + +Updates regarding EA’s business are available on EA’s blog at www.ea.com/news. + +About Electronic Arts + +Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. + +In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™ and F1™. More information about EA is available at www.ea.com/news. + +EA SPORTS, Ultimate Team, Battlefield, Need for Speed, Apex Legends, The Sims and Titanfall are trademarks of Electronic Arts Inc. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission. + +Safe Harbor for Forward-Looking Statements + +During the course of the presentation, Electronic Arts may make forward-looking statements regarding future events or the future financial performance of the company that are subject to change. Statements including words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “predict,” “seek,” “goal,” “will,” “may,” “likely,” “should,” “could” (and the negative of any of these terms), “future” and similar expressions also identify forward-looking statements. These forward-looking statements are not guarantees of future performance and reflect management’s current expectations. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that might cause or contribute to such differences include those discussed in Part II, Item 1A of Electronic Arts’ latest Quarterly Report on Form 10-Q under the heading “Risk Factors”, as well as in other documents we have filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2022. We assume no obligation to revise or update any forward-looking statement for any reason, except as required by law. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230111005893/en/ \ No newline at end of file diff --git "a/news/EA/2023.01.19/EA SPORTS\342\204\242 ANNOUNCES FIFA 23 TEAM OF THE YEAR, IN THE FRANCHISE'S LARGEST FOOTBAL...txt" "b/news/EA/2023.01.19/EA SPORTS\342\204\242 ANNOUNCES FIFA 23 TEAM OF THE YEAR, IN THE FRANCHISE'S LARGEST FOOTBAL...txt" new file mode 100644 index 0000000000000000000000000000000000000000..33d6803520ecd622377769bf2a1899f3d29bb4cd --- /dev/null +++ "b/news/EA/2023.01.19/EA SPORTS\342\204\242 ANNOUNCES FIFA 23 TEAM OF THE YEAR, IN THE FRANCHISE'S LARGEST FOOTBAL...txt" @@ -0,0 +1,75 @@ + +Today, Electronic Arts, Inc. (NASDAQ: EA) unveiled the official EA SPORTS™ FIFA 23 Team of the Year (TOTY). Millions of fans across the globe voiced their opinion on who should make the prestigious TOTY Final XI, honoring the world’s best of 2022. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230119005942/en/(Graphic: Business Wire) +Each year, EA SPORTS celebrates the world’s game by giving fans the chance to vote for their favorite footballers who have stood out among the rest. Once again millions of fans voted for their TOTY XI, and from these votes we saw Kylian Mbappé have the highest percentage of votes for attackers with 23%. Kevin De Bruyne had the highest percentage out of the midfielders vote with 21%, Achraf Hakimi for defenders with 15% and Thibaut Courtois took the top spot for goalkeepers with 56%. + +The full TOTY lineup will be available only on FIFA 23 from the 26th January, with the full XI coming to FIFA Online January 20th and FIFA Mobile from early February. Ahead of the full XI arriving in FIFA 23, players will get the opportunity to see the attackers items in-game from 20th-21st January, midfielders 22nd-23rd, defenders and goalkeeper between 24th-25th. + +“Our EA SPORTS FIFA's Team of the Year Vote continues to grow in participation each year, and has become a highly respected authority on the best of the best in world football,” said David Jackson, VP of brand for EA SPORTS FC. “Team of The Year gives millions of young football fans a voice as they nominate the world’s best, and we’re privileged to bring their chosen XI into FIFA 23.” + +EA SPORTS FIFA 23 TEAM OF THE YEAR: + +Attackers + +Midfielders + +Defenders + +Goalkeeper + +Player assets for the Final XI can be found here. + +12th Man + +As in previous years fans will also have the opportunity to vote in-game for their 12th man of the year, the final player added to the TOTY collective. The three players who narrowly missed out on the final XI and who could be the 12th Man are: + +Voting will take place within FIFA Ultimate Team™ from the 23rd January. + +TOTY ICONs + +To celebrate some of the greatest players to play The World’s Game, select FIFA Ultimate Team™ ICONs who would have been considered for the prestigious Team of The Year award in past years will receive brand new TOTY ICON items. 14 giants of the game will be honored with boosted ratings in FIFA Ultimate Team™ within FIFA 23, including: + +- Alessandro Nesta + +- Andrea Pirlo + +- Ashley Cole + +- Claude Makélélé + +- David Beckham + +- Edwin van der Sar + +- Gerd Muller + +- Hugo Sánchez + +- Javier Zanetti + +- Nemanja Vidić + +- Robert Pirès + +- Ronaldinho + +- Ruud Gullit + +- Xabi Alonso + +TOTY ICON items will start to be released January 20th for players to add to their Ultimate Team. + +FIFA 23 is developed by EA Vancouver and EA Romania and is available now on PlayStation 5, Xbox Series X|S, PC, PS4, and Xbox One. + +To learn more about the latest news for FIFA Mobile, or to download on iOS and Android, please visit: https://www.ea.com/games/fifa/fifa-mobile + +About Electronic Arts + +Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. + +In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™, Plants vs. Zombies™ and F1® . More information about EA is available at www.ea.com/news. + +EA, EA SPORTS, Ultimate Team, Battlefield, Apex Legends, The Sims, Need for Speed, Titanfall, and Plants vs. Zombies are trademarks of Electronic Arts Inc. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission. FIFA and FIFA's Official Licensed Product Logo are copyrights and/or trademarks of FIFA. All rights reserved. + +Category: EA Sports +View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005942/en/ \ No newline at end of file diff --git a/news/EA/2023.01.19/Ea sports pga tour, the exclusive home of all four men's majors, and road to the master...txt b/news/EA/2023.01.19/Ea sports pga tour, the exclusive home of all four men's majors, and road to the master...txt new file mode 100644 index 0000000000000000000000000000000000000000..34a18ed01fa8bc1101427783a2531d2c4ee19bc6 --- /dev/null +++ b/news/EA/2023.01.19/Ea sports pga tour, the exclusive home of all four men's majors, and road to the master...txt @@ -0,0 +1,43 @@ + +Today, Electronic Arts Inc. (NASDAQ: EA) announced that EA SPORTS™ PGA TOUR™ will be launching on March 24, 2023 for PlayStation®5, Xbox Series X|S and PC via the EA App, Steam and the Epic Games Store. Pre-orders begin today for EA SPORTS PGA TOUR, the exclusive home of all four majors in men’s golf - the Masters Tournament, PGA Championship™, U.S. Open Championship™ and The Open. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230119005328/en/EA SPORTS PGA TOUR, THE EXCLUSIVE HOME OF ALL FOUR MEN’S MAJORS, AND ROAD TO THE MASTERS LAUNCHES WORLDWIDE MARCH 24, 2023 (Graphic: Business Wire) +In addition, EA SPORTS PGA TOUR will launch with Road to the Masters which brings tradition and unmatched stakes featuring Augusta National, challenges, tournaments and gear tied to the Masters. The Masters made its first-ever virtual appearance with EA SPORTS in 2011, and its return to video games has been highly requested by golf fans. EA SPORTS will also provide more details on additional live service content throughout the 2023 PGA TOUR and LPGA Tour seasons. + +“We're bringing the premier PGA TOUR experience to players around the world with real-world golf data powering incredibly realistic gameplay with every shot, and some of the most iconic courses in the world rendered in painstaking detail,” said Cam Weber, EVP and GM, EA SPORTS. “From The Old Course at St Andrews Links to Pebble Beach Golf Links and more, we’re giving players the chance to tee off in bucket list golf experiences like never before in EA SPORTS PGA TOUR.” + +EA SPORTS PGA TOUR released the official gameplay trailer today, featuring the all-new Pure Strike shot system. The full trailer can be seen on EA SPORTS PGA TOUR's YouTube channel, and can be watched here. + +Pure Strike gives golf fans all the tools they need to realistically attack every hole on every course the same way the pros do. Featuring ShotLink® powered by CDW and TrackMan, Pure Strike also helps ensure that each professional golfer’s unique swing and attributes will be accurately reflected in the game. Pure Strike incorporates the three parts of every golf shot - fluid swing mechanics that are highly accurate to a player’s backswing length and speed of follow through, innovative ball behavior allowing every bounce and roll to behave more accurately across a variety of terrain and course conditions, and lifelike course dynamics that play true to their real life course counterparts. + +In addition to being the exclusive home of all four men’s majors, EA SPORTS PGA TOUR is filled with experiences and content players have been asking for in a golf game, including: + +Pre-orders for EA SPORTS PGA TOUR are now available, including the Deluxe Edition where players will receive three-day early access to the game and Augusta National, THE PLAYERS Championship Gear, The Grand Slam Gear Bundle, Scotty Cameron Putter in-game, 1,500 Premium PGA TOUR points, a PGA TOUR XP Bundle and The Masters gear*. EA Play** members will also receive early access to the game, starting with a 10-hour early access trial on March 21. EA Play Pro members will enjoy unlimited access to the Deluxe Edition of the game – as well as the exclusive EA Play Staff Bag – starting March 21. Lastly, all EA Play members will unlock additional bonuses for EA SPORTS PGA TOUR, with monthly drops of Pro Shop perks such as exclusive headcovers, shirts, hats and more. + +For more details on EA SPORTS PGA TOUR, and to register for email updates, visit www.ea.com/games/pga-tour. Follow @EASPORTSPGATOUR on Twitter, Facebook, and Instagram for the latest updates. + +EA SPORTS PGA TOUR is being developed in Orlando and Madrid by EA Tiburon. + +PRESS ASSETS ARE AVAILABLE AT EAPressPortal.com + +About Electronic Arts +Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. + +In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™, Plants vs. Zombies™ and F1®. More information about EA is available at www.ea.com/news. + +EA SPORTS, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are trademarks of Electronic Arts Inc. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission. + +About PGA TOUR +By showcasing golf’s greatest players, the PGA TOUR engages, inspires, and positively impacts our fans, partners, and communities worldwide. + +The PGA TOUR, headquartered in Ponte Vedra Beach, Florida, co-sanctions tournaments on the PGA TOUR, PGA TOUR Champions, Korn Ferry Tour, PGA TOUR Latinoamérica, Mackenzie Tour-PGA TOUR Canada, Forme Tour and PGA TOUR Series-China. Members on the PGA TOUR represent the world’s best players, hailing from 29 countries and territories outside the United States (96 international members). Worldwide, PGA TOUR tournaments are broadcast to 216 countries and territories in 28 languages. Virtually all tournaments are organized as non-profit organizations to maximize charitable giving, and to date, tournaments across all Tours have generated more than $3.2 billion. + +Fans can follow the PGA TOUR on PGATOUR.COM, the No. 1 site in golf, on the PGA TOUR app and on social media channels, including Facebook, Instagram (in English, Spanish and Korean), LinkedIn, Twitter, WeChat, Weibo, Toutiao and Douyin. + +EA is a licensee of the USGA. + +*Conditions & restrictions apply. See https://www.ea.com/games/ea-sports-pga-tour/disclaimers for details. + +**Conditions, limitations and exclusions apply. See EA Play Terms for details. + +Category: EA Sports +View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005328/en/ \ No newline at end of file diff --git a/news/EA/2023.01.27/Dead Space, Remake of the Sci-Fi Survival Horror Classic, Now Available on PlayStation ...txt b/news/EA/2023.01.27/Dead Space, Remake of the Sci-Fi Survival Horror Classic, Now Available on PlayStation ...txt new file mode 100644 index 0000000000000000000000000000000000000000..7a05417f9620124a46a6cf485153bdb0244fd0e7 --- /dev/null +++ b/news/EA/2023.01.27/Dead Space, Remake of the Sci-Fi Survival Horror Classic, Now Available on PlayStation ...txt @@ -0,0 +1,31 @@ + +Motive™ Studio, a studio of Electronic Arts Inc. (NASDAQ: EA), announced today that Dead Space™, the ground-up remake of the sci-fi survival horror classic, is now available on PlayStation®5, Xbox Series X|S and PC. Since its initial reveal in 2021, Dead Space has been a staple fixture on “Most Anticipated” lists from prominent media publications around the world. Now that the game is out, press are highly praising the game with outlets including IGN and Inverse calling it "...undoubtedly the definitive way to experience – or re-experience – one of the best survival horror shooters..." and "...one of the best games of all time” in their respective 9/10 and 10/10 reviews. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230127005064/en/Dead Space™, the ground-up remake of the sci-fi survival horror classic, is now available on PlayStation®5, Xbox Series X|S and PC. (Graphic: Business Wire) +Dead Space puts players in the boots of Isaac Clarke, an everyman engineer on a routine mission to fix the USG Ishimura, a gigantic mining starship. But aboard the Ishimura, a living nightmare awaits. The ship’s crew has been slaughtered and Isaac’s girlfriend, Nicole, is missing somewhere on board. Alone and trapped with only his engineering tools and skills, Isaac faces a battle for survival — not only against terrifying monsters called Necromorphs, but his own crumbling sanity. + +“When Dead Space launched in 2008, it immediately became a survival horror classic with its iconic sci-fi atmosphere and environmental narrative,” said Phillippe Ducharme, Senior Producer of Dead Space. “Our most important goal in remaking the game almost 15 years later is honoring the legacy of the original, while enhancing it with the power of today’s hardware. ​​If this is your first time stepping into Isaac’s suit, we hope it creates the same, lasting impression that it did for us when we played it in 2008. ​​If you are a returning player, our wish is to have delivered a game that lives up to your fondest memories, and that you’ll love picking up that Plasma Cutter once again.” + +Dead Space was rebuilt from the ground up leveraging the Frostbite™ game engine. Remaining faithful to the original game’s thrilling vision, the remake offers enhanced audio and crisp, harrowing visuals that have been carefully reimagined to evoke a new level of immersion and quality. Additionally, Dead Space features key gameplay improvements including: + +Will Isaac live to unravel the dreadful mystery of what happened to the slaughtered crew and ship, or be forever lost to the cold vacuum of space? Players can find out now on PlayStation 5 and Xbox Series X|S for $69.99 as well as PC for $59.99. Dead Space will also be available to purchase in Deluxe and Collector’s Edition for various extras. + +Further, EA Play Pro* members get more in-game content with the Dead Space EA Play Pro Edition** - including a member-only Anodized Suit Texture, as well as the three Unique Suits and two Suit Textures in the Digital Deluxe Edition. Visit the EA Play website for more details on EA Play memberships. + +For additional information and to stay up to date on the remake, visit the official website, like Dead Space on Facebook and Instagram, follow the franchise on Twitter and subscribe to its YouTube channel. + +*Conditions, limitations and exclusions apply. See EA Play Terms for details. + +**Conditions & restrictions apply. See https://www.ea.com/games/dead-space/dead-space/game-and-offer-disclaimers for details. + +PRESS ASSETS ARE AVAILABLE AT EAPressPortal.com + +About Electronic Arts + +Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. + +In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™, Plants vs. Zombies™ and F1®. More information about EA is available at www.ea.com/news. + +EA SPORTS, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are trademarks of Electronic Arts Inc. STAR WARS © & TM 2015 Lucasfilm Ltd. All rights reserved. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission. + +Category: EA Studios +View source version on businesswire.com: https://www.businesswire.com/news/home/20230127005064/en/ \ No newline at end of file diff --git a/news/EA/2023.01.30/EA SPORTS Madden NFL to Host Virtual Pro Bowl & Introduces Reimagined Version of the Ic...txt b/news/EA/2023.01.30/EA SPORTS Madden NFL to Host Virtual Pro Bowl & Introduces Reimagined Version of the Ic...txt new file mode 100644 index 0000000000000000000000000000000000000000..a1ab6386eb3c8881ffa17c75a1a3bca5cef623cd --- /dev/null +++ b/news/EA/2023.01.30/EA SPORTS Madden NFL to Host Virtual Pro Bowl & Introduces Reimagined Version of the Ic...txt @@ -0,0 +1,29 @@ + +As the 2023 Pro Bowl Games presented by Verizon deliver a new, engaging format for football fans to enjoy competition between the best players of the season from the NFC and AFC, EA SPORTS™ Madden NFL 23 is the only place for fans to play out a full game between this year’s NFL all-stars. To highlight this, EA SPORTS™, the National Football League (NFL) and the NFL Players Association are joining together for the third consecutive year to host the NFL Pro Bowl: Madden NFL 23 Edition, filmed at the NFL Las Vegas Store presented by VISA and airing Saturday, Feb. 4 at 4 p.m. PST/7 p.m. EST on the NFL YouTube, Twitter and Facebook. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230130005619/en/The new, reimagined Madden Cruiser from EA SPORTS Madden NFL 23 (Photo: Business Wire) +Cowboys Micah Parsons and Vikings Justin Jefferson, champions of the NFL Pro Bowl: Madden NFL 22 Edition, return to represent the NFC and defend their title against Dolphins Tyreek Hill and Jets Rookie Sauce Gardner from the AFC in a matchup played in Madden NFL 23 using the official 2023 NFL Pro Bowl rosters. Charissa Thompson returns for the third year to host the event and will be joined by Marshawn Lynch as co-host in his third consecutive appearance at the virtual Pro Bowl after winning the 2021 event. + +“We’re pumped to be back in Las Vegas celebrating the NFL Pro Bowl and playing Madden NFL together again on behalf of the NFC,” said Justin Jefferson. “Tyreek and Sauce don’t stand a chance against us and we will bring another victory to the NFC like we did last year,” said Micah Parsons. + +EA SPORTS is also continuing to celebrate transcendent sport and cultural icon John Madden by bringing a reimagined version of the Madden Cruiser to the next generation of football fans. Throughout his broadcasting career, Coach Madden traveled tens of thousands of miles across the U.S. in a full-sized bus that became widely known as “The Madden Cruiser.” Today, EA SPORTS is bringing its version of the Cruiser, redesigned by the creative geniuses at West Coast Customs and EA SPORTS designers and engineers. Part tribute that celebrates Coach Madden’s life as a legendary football coach, renowned broadcaster, and pioneering gaming icon, the reimagined version of the Madden Cruiser is outfitted with state-of-the-art content creation, streaming, gaming and broadcasting capabilities to connect fans closer to the sport Coach loved and his legacy. The new Madden Cruiser will debut for fans this Sunday at Allegiant Stadium at the 2023 Pro Bowl Games and then hit the road to Super Bowl LVII in Arizona with more stops to come. + +“Our family has loved all of the ways EA SPORTS and fans across the world have honored Dad [Coach Madden] over the last year," said Mike Madden. “Seeing a new version of the Madden Cruiser back on the streets brings back so many great stories and memories of road trips with my dad. I hope football fans enjoy this new cruiser and create their own memories that can be passed down to a new generation.” + +To cap the Pro Bowl, EA SPORTS™ Madden NFL 23 Mobile, as the presenting partner of the official Precision Passing skills competition of NFL Pro Bowl Games, is offering fans the chance to play their own precision passing event in-game. Fans who complete the challenge in Madden NFL 23 Mobile are rewarded with their choice of a player card of one of the six quarterbacks who will compete in the real life one-minute accuracy competition. OneTeam Partners is the NFLPA’s exclusive video game rights holder and collaborates with all parties to develop experiences for fans across platforms. + +Fans can check out Precision Passing Presented by EA SPORTS Madden NFL 23 Mobile on ESPN at 4 p.m. PST/7 p.m. EST on Thursday, Feb. 2 and can play the Madden NFL 23 Mobile Precision Passing experience on Feb. 2 as well. Madden NFL 23 Mobile is available to download from the Apple App Store or Google Play Store now. + +Madden NFL 23 is developed in Orlando, Florida and Madrid, Spain by EA Tiburon for PlayStation®4, PlayStation®5, Xbox One, Xbox Series X|S, PC via EA app for Windows, Steam® and Epic Games Store and is currently available for purchase with an up to 70 percent discount* through Feb. 16. + +For Madden NFL 23 assets, visit: EAPressPortal.com and follow @eamaddennfl on Twitter, Facebook and Instagram for the latest updates. + +*Offers may vary or change. See retailer site for details. + +About Electronic Arts + +Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. + +In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™, Plants vs. Zombies™ and F1®. More information about EA is available at www.ea.com/news. + +EA SPORTS, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are trademarks of Electronic Arts Inc. Guinness World Records, John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230130005619/en/ \ No newline at end of file diff --git a/news/EA/2023.01.31/Electronic Arts : Fiscal Q3 Earnings Snapshot.txt b/news/EA/2023.01.31/Electronic Arts : Fiscal Q3 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..357338f5453877fb52a53b2f3b47a4cf048e5723 --- /dev/null +++ b/news/EA/2023.01.31/Electronic Arts : Fiscal Q3 Earnings Snapshot.txt @@ -0,0 +1 @@ +REDWOOD CITY, Calif. (AP) _ Electronic Arts Inc. (EA) on Tuesday reported fiscal third-quarter profit of $204 million.On a per-share basis, the Redwood City, California-based company said it had profit of 73 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to $2.71 per share.The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $3.05 per share.The video game maker posted revenue of $1.88 billion in the period. Its adjusted revenue was $2.34 billion, also missing Street forecasts. Ten analysts surveyed by Zacks expected $2.5 billion.For the current quarter ending in March, Electronic Arts said it expects revenue in the range of $1.68 billion to $1.78 billion.The company expects full-year earnings to be $2.97 to $3.11 per share, with revenue ranging from $7.07 billion to $7.17 billion.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EA at https://www.zacks.com/ap/EACopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/EA/2023.01.31/Electronic Arts Reports Q3 FY23 Financial Results.txt b/news/EA/2023.01.31/Electronic Arts Reports Q3 FY23 Financial Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..d97b46910464b7b9d3e607a583a5ccd40b25ec65 --- /dev/null +++ b/news/EA/2023.01.31/Electronic Arts Reports Q3 FY23 Financial Results.txt @@ -0,0 +1,5618 @@ + +Electronic Arts Inc. (NASDAQ:EA) today announced preliminary financial results for its third fiscal quarter ended December 31, 2022. + +“In Q3, EA delivered high-quality experiences, driving record engagement across some of our biggest franchises and growing our player network. While our teams delivered for our players, the current macro environment impacted Q3 results,” said Andrew Wilson, CEO of Electronic Arts. “As we navigate the short-term, we're focused on building for the long-term and remain confident about our future. With amazing talent, proven IP and growing player network, EA is operating from a position of strength.” + +“As market uncertainty mounted during the quarter, we took measures to protect underlying profitability,” said Chris Suh, CFO. “We are prioritizing the player experience, directing investment to where it can have the most positive impact for our players and on growth.” + +Selected Operating Highlights and Metrics + +Selected Financial Highlights and Metrics + +Dividend + +EA has declared a quarterly cash dividend of $0.19 per share of the Company’s common stock. The dividend is payable on March 22, 2023 to shareholders of record as of the close of business on March 1, 2023. + +Quarterly Financial Highlights + +2022 + +2021 + +622 + +616 + +1,259 + +  + +1,173 + +  + +1,881 + +  + +1,789 + +  + +204 + +  + +66 + +  + +0.73 + +  + +0.23 + +  + +1,123 + +  + +1,534 + +  + +325 + +  + +325 + +  + +2.6 + +  + +2.4 + +  + +The following GAAP-based financial data2 and tax rate of 19% was used internally by company management to adjust its GAAP results in order to assess EA’s operating results: + +Statement of + +Operations + +Acquisition- + +related + +expenses + +Change in deferred net + +revenue (online- + +enabled games) + +Stock-based + +compensation + +1,881 + +  + +- + +  + +461 + +- + +  + +568 + +  + +(26 + +) + +- + +  + +(2 + +) + +1,313 + +  + +26 + +  + +461 + +  + +2 + +  + +1,024 + +  + +(50 + +) + +- + +  + +(139 + +) + +289 + +  + +76 + +  + +461 + +  + +141 + +  + +(7 + +) + +- + +  + +- + +  + +- + +  + +282 + +  + +76 + +  + +461 + +  + +141 + +  + +278 + +  + +Trailing Twelve Months Financial Highlights + +2022 + +2021 + +2,003 + +1,805 + +5,374 + +  + +4,707 + +  + +7,377 + +  + +6,512 + +  + +1,039 + +  + +640 + +  + +1,377 + +  + +1,826 + +  + +1,295 + +  + +1,300 + +  + +10.2 + +  + +9.4 + +  + +The following GAAP-based financial data2 was used internally by company management to adjust its GAAP results in order to assess EA’s operating results. During fiscal 2022, management used a tax rate of 18% and in fiscal 2023 a tax rate of 19%. + +Statement of + +Operations + +Acquisition- + +related + +expenses + +Change in deferred net + +revenue (online- + +enabledgames) + +Stock-based + +compensation + +7,377 + +  + +- + +  + +(231 + +) + +- + +  + +1,763 + +  + +(140 + +) + +- + +  + +(7 + +) + +5,614 + +  + +140 + +  + +(231 + +) + +7 + +  + +4,092 + +  + +(184 + +) + +- + +  + +(524 + +) + +1,522 + +  + +324 + +  + +(231 + +) + +531 + +  + +(21 + +) + +- + +  + +- + +  + +- + +  + +1,501 + +  + +324 + +  + +(231 + +) + +531 + +  + +Operating Metric + +The following is a calculation of our total net bookings1 for the periods presented: + +  + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +1,881 + +1,789 + +7,377 + +6,512 + +461 + +  + +788 + +  + +(231 + +) + +742 + +  + +2,342 + +  + +2,577 + +  + +7,146 + +  + +7,254 + +  + +Business Outlook as of January 31, 2023 + +EA announced a new release date for Star Wars Jedi: Survivor, which will launch globally on April 28th. More information is provided on EA’s blog at www.ea.com/news. + +Fourth Quarter Fiscal Year 2023 Expectations – Ending March 31, 2023 + +Financial metrics: + +Operational metric: + +In addition, the following outlook for GAAP-based financial data2 and updated long-term tax rate of 19% are used internally by EA to adjust GAAP expectations to assess EA’s operating results and plan for future periods: + +GAAP + +Guidance + +Range + +Acquisition- + +related + +expenses + +Change in deferred net + +revenue (online- + +enabled games) + +Stock-based + +compensation + +- + +  + +(25 + +) + +- + +  + +(25 + +) + +- + +  + +- + +  + +(35 + +) + +- + +  + +(140 + +) + +60 + +  + +(25 + +) + +140 + +  + +277 + +Fiscal Year 2023 Expectations – Ending March 31, 2023 + +Financial metrics: + +Operational metric: + +In addition, the following outlook for GAAP-based financial data2 and updated long-term tax rate of 19% are used internally by EA to adjust GAAP expectations to assess EA’s operating results and plan for future periods: + +GAAP + +Guidance + +Range + +Acquisition- + +related + +expenses + +Change in deferred net + +revenue (online- + +enabled games) + +Stock-based + +compensation + +- + +  + +(182 + +) + +- + +  + +(120 + +) + +- + +  + +(5 + +) + +(167 + +) + +- + +  + +(541 + +) + +287 + +  + +(182 + +) + +546 + +  + +279 + +Conference Call and Supporting Documents + +Electronic Arts will host a conference call on January 31, 2023 at 2:00 pm PT (5:00 pm ET) to review its results for the third quarter ended December 31, 2022 and its outlook for the future. During the course of the call, Electronic Arts may disclose material developments affecting its business and/or financial performance. Listeners may access the conference call live through the following dial-in number (888) 330-2446 (domestic) or (240) 789-2732 (international), using the conference code 5939891 or via webcast at EA’s IR Website at http://ir.ea.com. + +EA has posted a slide presentation with a financial model of EA’s historical results and guidance on EA’s IR Website. EA will also post the prepared remarks and a transcript from the conference call on EA’s IR Website. + +A dial-in replay of the conference call will be available until February 15, 2023 at (800) 770-2030 (domestic) or (647) 362-9199 (international) using pin code 5939891. An audio webcast replay of the conference call will be available for one year on EA’s IR Website. + +Forward-Looking Statements + +Some statements set forth in this release, including the information relating to EA’s expectations under the heading “Business Outlook as of January 31, 2023” and other information regarding EA's expectations contain forward-looking statements that are subject to change. Statements including words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “predict,” “seek,” “goal,” “will,” “may,” “likely,” “should,” “could” (and the negative of any of these terms), “future” and similar expressions also identify forward-looking statements. These forward-looking statements are not guarantees of future performance and reflect management’s current expectations. Our actual results could differ materially from those discussed in the forward-looking statements. + +Some of the factors which could cause the Company’s results to differ materially from its expectations include the following: sales of the Company’s products and services; the Company’s ability to develop and support digital products and services, including managing online security and privacy; outages of our products, services and technological infrastructure; the Company’s ability to manage expenses; the competition in the interactive entertainment industry; governmental regulations; the effectiveness of the Company’s sales and marketing programs; timely development and release of the Company’s products and services; the Company’s ability to realize the anticipated benefits of, and integrate, acquisitions; the consumer demand for, and the availability of an adequate supply of console hardware units; the Company’s ability to predict consumer preferences among competing platforms; the Company’s ability to develop and implement new technology; foreign currency exchange rate fluctuations; economic and geopolitical conditions; changes in our tax rates or tax laws; and other factors described in Part II, Item 1A of Electronic Arts’ latest Quarterly Report on Form 10-Q under the heading “Risk Factors”, as well as in other documents we have filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2022. + +These forward-looking statements are current as of January 31, 2023. Electronic Arts assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law. In addition, the preliminary financial results set forth in this release are estimates based on information currently available to Electronic Arts. + +While Electronic Arts believes these estimates are meaningful, they could differ from the actual amounts that Electronic Arts ultimately reports in its Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2022. Electronic Arts assumes no obligation and does not intend to update these estimates prior to filing its Form 10-Q for the fiscal quarter ended December 31, 2022. + +About Electronic Arts + +Electronic Arts (NASDAQ:EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. + +In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™, Plants vs. Zombies™ and F1®. More information about EA is available at www.ea.com/news. + +EA SPORTS, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are trademarks of Electronic Arts Inc. STAR WARS © & TM 2015 Lucasfilm Ltd. All rights reserved. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission. + +1 Net bookings is defined as the net amount of products and services sold digitally or sold-in physically in the period. Net bookings is calculated by adding total net revenue to the change in deferred net revenue for online-enabled games. +2 For more information about the nature of the GAAP-based financial data, please refer to EA’s Form 10-K for the fiscal year ended March 31, 2022. + +ELECTRONIC ARTS INC. AND SUBSIDIARIES + +Unaudited Condensed Consolidated Statements of Operations + +(in $ millions, except per share data) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended + +December 31, + +  + +Nine Months Ended + +December 31, + +  + +  + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +Net revenue + +1,881 + +  + +  + +1,789 + +  + +  + +5,552 + +  + +  + +5,166 + +  + +Cost of revenue + +568 + +  + +  + +631 + +  + +  + +1,344 + +  + +  + +1,440 + +  + +Gross profit + +1,313 + +  + +  + +1,158 + +  + +  + +4,208 + +  + +  + +3,726 + +  + +Operating expenses: + +  + +  + +  + +  + +  + +  + +  + +Research and development + +556 + +  + +  + +539 + +  + +  + +1,693 + +  + +  + +1,607 + +  + +Marketing and sales + +256 + +  + +  + +293 + +  + +  + +723 + +  + +  + +716 + +  + +General and administrative + +162 + +  + +  + +163 + +  + +  + +503 + +  + +  + +508 + +  + +Amortization and impairment of intangibles + +50 + +  + +  + +61 + +  + +  + +132 + +  + +  + +131 + +  + +Total operating expenses + +1,024 + +  + +  + +1,056 + +  + +  + +3,051 + +  + +  + +2,962 + +  + +Operating income + +289 + +  + +  + +102 + +  + +  + +1,157 + +  + +  + +764 + +  + +Interest and other income (expense), net + +(7 + +) + +  + +(11 + +) + +  + +(12 + +) + +  + +(39 + +) + +Income before provision for income taxes + +282 + +  + +  + +91 + +  + +  + +1,145 + +  + +  + +725 + +  + +Provision for income taxes + +78 + +  + +  + +25 + +  + +  + +331 + +  + +  + +161 + +  + +Net income + +204 + +  + +  + +66 + +  + +  + +814 + +  + +  + +564 + +  + +Earnings per share + +  + +  + +  + +  + +  + +  + +  + +Basic + +0.74 + +  + +  + +0.23 + +  + +  + +2.93 + +  + +  + +1.99 + +  + +Diluted + +0.73 + +  + +  + +0.23 + +  + +  + +2.92 + +  + +  + +1.97 + +  + +Number of shares used in computation + +  + +  + +  + +  + +  + +  + +  + +Basic + +276 + +  + +  + +283 + +  + +  + +278 + +  + +  + +284 + +  + +Diluted + +278 + +  + +  + +285 + +  + +  + +279 + +  + +  + +287 + +  + +Results (in $ millions, except per share data) + +The following table reports the variance of the actuals versus our guidance provided on November 1, 2022 for the three months ended December 31, 2022 plus a comparison to the actuals for the three months ended December 31, 2021. + +  + +Three Months Ended December 31, + +  + +2022 Guidance + +(Mid-Point) + +  + +  + +  + +2022 + +Actuals + +  + +2021 + +Actuals + +  + +  + +Variance + +  + +  + +Net revenue + +  + +  + +  + +  + +  + +  + +  + +Net revenue + +1,875 + +  + +  + +6 + +  + +  + +1,881 + +  + +  + +1,789 + +  + +GAAP-based financial data + +  + +  + +  + +  + +  + +  + +  + +Change in deferred net revenue (online-enabled games)1 + +600 + +  + +  + +(139 + +) + +  + +461 + +  + +  + +788 + +  + +Cost of revenue + +  + +  + +  + +  + +  + +  + +  + +Cost of revenue + +570 + +  + +  + +(2 + +) + +  + +568 + +  + +  + +631 + +  + +GAAP-based financial data + +  + +  + +  + +  + +  + +  + +  + +Acquisition-related expenses + +(30 + +) + +  + +4 + +  + +  + +(26 + +) + +  + +(44 + +) + +Stock-based compensation + +— + +  + +  + +(2 + +) + +  + +(2 + +) + +  + +(1 + +) + +Operating expenses + +  + +  + +  + +  + +  + +  + +  + +Operating expenses + +1,085 + +  + +  + +(61 + +) + +  + +1,024 + +  + +  + +1,056 + +  + +GAAP-based financial data + +  + +  + +  + +  + +  + +  + +  + +Acquisition-related expenses + +(35 + +) + +  + +(15 + +) + +  + +(50 + +) + +  + +(61 + +) + +Stock-based compensation + +(150 + +) + +  + +11 + +  + +  + +(139 + +) + +  + +(128 + +) + +Income before tax + +  + +  + +  + +  + +  + +  + +  + +Income before tax + +219 + +  + +  + +63 + +  + +  + +282 + +  + +  + +91 + +  + +GAAP-based financial data + +  + +  + +  + +  + +  + +  + +  + +Acquisition-related expenses + +65 + +  + +  + +11 + +  + +  + +76 + +  + +  + +105 + +  + +Change in deferred net revenue (online-enabled games)1 + +600 + +  + +  + +(139 + +) + +  + +461 + +  + +  + +788 + +  + +Stock-based compensation + +150 + +  + +  + +(9 + +) + +  + +141 + +  + +  + +129 + +  + +Tax rate used for management reporting + +19 + +% + +  + +  + +  + +19 + +% + +  + +18 + +% + +Earnings per share + +  + +  + +  + +  + +  + +  + +  + +Basic + +0.51 + +  + +  + +0.23 + +  + +  + +0.74 + +  + +  + +0.23 + +  + +Diluted + +0.51 + +  + +  + +0.22 + +  + +  + +0.73 + +  + +  + +0.23 + +  + +Number of shares used in computation + +  + +  + +  + +  + +  + +  + +  + +Basic + +277 + +  + +  + +(1 + +) + +  + +276 + +  + +  + +283 + +  + +Diluted + +279 + +  + +  + +(1 + +) + +  + +278 + +  + +  + +285 + +  + +1 + +  + +The change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of cash flows does not necessarily equal the change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of operations primarily due to the impact of unrecognized gains/losses on cash flow hedges. + +ELECTRONIC ARTS INC. AND SUBSIDIARIES + +Unaudited Condensed Consolidated Balance Sheets + +(in $ millions) + +  + +  + +  + +  + +  + +December 31, 2022 + +  + +March 31, 20222 + +ASSETS + +  + +  + +  + +Current assets: + +  + +  + +  + +Cash and cash equivalents + +2,202 + +  + +  + +2,732 + +Short-term investments + +351 + +  + +  + +330 + +  + +Receivables, net + +836 + +  + +  + +650 + +  + +Other current assets + +453 + +  + +  + +439 + +  + +Total current assets + +3,842 + +  + +  + +4,151 + +  + +Property and equipment, net + +553 + +  + +  + +550 + +  + +Goodwill + +5,380 + +  + +  + +5,387 + +  + +Acquisition-related intangibles, net + +735 + +  + +  + +962 + +  + +Deferred income taxes, net + +2,443 + +  + +  + +2,243 + +  + +Other assets + +517 + +  + +  + +507 + +  + +TOTAL ASSETS + +13,470 + +  + +  + +13,800 + +  + +  + +  + +  + +  + +LIABILITIES AND STOCKHOLDERS’ EQUITY + +  + +  + +  + +Current liabilities: + +  + +  + +  + +Accounts payable + +62 + +  + +  + +101 + +  + +Accrued and other current liabilities + +1,243 + +  + +  + +1,388 + +  + +Deferred net revenue (online-enabled games) + +1,808 + +  + +  + +2,024 + +  + +Total current liabilities + +3,113 + +  + +  + +3,513 + +  + +Senior notes, net + +1,879 + +  + +  + +1,878 + +  + +Income tax obligations + +525 + +  + +  + +386 + +  + +Deferred income taxes, net + +1 + +  + +  + +1 + +  + +Other liabilities + +401 + +  + +  + +397 + +  + +Total liabilities + +5,919 + +  + +  + +6,175 + +  + +  + +  + +  + +  + +Stockholders’ equity: + +  + +  + +  + +Common stock + +3 + +  + +  + +3 + +  + +Retained earnings + +7,585 + +  + +  + +7,607 + +  + +Accumulated other comprehensive income (loss) + +(37 + +) + +  + +15 + +  + +Total stockholders’ equity + +7,551 + +  + +  + +7,625 + +  + +TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY + +13,470 + +  + +  + +13,800 + +  + +2 + +  + +Derived from audited consolidated financial statements. + +ELECTRONIC ARTS INC. 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Some of the drop was due to a lack of big new titles.EA on Tuesday pushed out the launch of "Star Wars Jedi: Survivor" by six weeks to April 28, +which would fall into its next fiscal year. The game is a sequel to its 2019 "Star Wars Jedi: +Fallen Order" title that has drawn over 20 million players.The results, meanwhile, showed that recent launches were not doing enough to draw consumers, +who are prioritizing essentials in the face of still-high inflation and rising interest rates.The company, which in recent months released "Need for Speed Unbound" and the latest +installment in its "FIFA" series, now expects annual bookings between $7.07 billion and $7.17 +billion. It had forecast $7.65 billion to $7.85 billion previously.Its third-quarter adjusted sales and profit also came in below analysts' expectations, +according to Refinitiv data."Weak, but not a disaster," Wedbush Securities analyst Michael Pachter said of the results, +adding the "Star Wars" title delay led to a "huge shift of earnings" into next year."Demand in free-to-play is down a bit, my best guess is that consumers are freaked out by +inflation and fears of a recession," he said.Companies like EA monetize free-to-play games by selling virtual items such as loot boxes +and characters to people. +(Reporting by Tiyashi Datta and Aditya Soni in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/EA/2023.01.31/Electronic Arts lowers annual adjusted sales forecast.txt b/news/EA/2023.01.31/Electronic Arts lowers annual adjusted sales forecast.txt new file mode 100644 index 0000000000000000000000000000000000000000..2419883a2b44ab4c76a531a293526a3cba0f610b --- /dev/null +++ b/news/EA/2023.01.31/Electronic Arts lowers annual adjusted sales forecast.txt @@ -0,0 +1 @@ +The company now expects annual bookings between $7.07 billion and $7.17 billion, compared with $7.65 billion to $7.85 billion earlier. (Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/EA/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt b/news/EA/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d3f81417321caae04ff9d49cdf90aeb52759543 --- /dev/null +++ b/news/EA/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt @@ -0,0 +1 @@ +There's an uncomfortable feeling in markets this week that good news may be bad news once again - mainly because of what the former means for this week's big central banking set pieces.As U.S. Federal Reserve's Federal Open Market Committee kicks off its two-day policymaking meeting, the economic news from around the world brightened considerably. Possibly wary of a premature easing of financial conditions before its tightening campaign is finished, some investors suspect the Fed may want to hang tough for a bit longer - stressing more needs to be done to ensure inflation is licked even as it slows the pace of rate hikes another notch to a quarter point rise on Wednesday.Another one-two of half point rate rises from the European Central Bank and Bank of England the following day adds to the trepidation, not least with Spain reminding everyone on Monday that inflation rates can re-accelerate again even after peaking.And if global recession is avoided, the hawkishness may persist. That's why China's new year bounce back from COVID-lockdowns and the euro zone dodging a downturn due to falling energy prices in a warm winter matter so much. They account for the world's second and third biggest economic areas.China's economic activity swung back to growth in January after three months of contraction, according to official business surveys released on Tuesday.The euro zone economy confounded forecasts for a quarterly contraction of gross domestic product in the final three months of 2022. Eurostat estimated GDP in the bloc rose 0.1% in Q4 despite consensus expectations for a fall of 0.1%.And if the significant energy price relief of the past two months means activity picked up further early this year, the long-standing assumptions for a winter euro zone recession will evaporate.Underlining the point, the International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly due to "surprisingly resilient" demand in the United States and Europe, easing energy costs and China's reopening.Dogged by Brexit, tax rises and serial labour strikes, Britain was the clear outlier and is the only G7 nation to have suffered a cut to its 2023 IMF, with the economy set to shrink by 0.6% this year - a sharp downgrade from the prior IMF forecast.The constellation leaves markets on the back foot as they await the big monetary policy decisions.Deep in the weeds of the latest corporate earnings season - with more than a fifth of S&P500 firms reporting this week alone and Apple, Amazon and Alphabet all due on Thursday - Wall St stock futures remain in the red after a dour start to the week on Monday. European and Asia bourses were lower too. The dollar has picked up across the board, with two-year U.S. Treasury yields giving back only some of their gains to near three-week highs on Monday.Despite the upbeat macro news, China tech stocks dropped 1.7% on media reports that the Biden administration has stopped approving licenses for U.S. companies to export most items to China's Huawei, signalling new tension in the Sino-U.S. tech war.UniCredit jumped 8.1% to the top of STOXX 600 after the giant Italian lender pledged to return 5.25 billion euros ($5.69 billion) to investors based on its 2022 results after posting its best profit in more than a decade.UBS shares fell 3% after the Swiss banking giant predicted an "uncertain" year ahead plagued by accelerating inflation and higher interest rates - even as it beat estimates, upped its dividend and proposed another $5 billion stock buyback this year.Indian billionaire Gautam Adani's $2.5 billion share sale inched closer to full subscription on Tuesday as investors pumped in funds after a tumultuous week for his group in which its stocks were pummelled by a scathing short-seller reportKey developments that may provide direction to U.S. markets later on Tuesday: * U.S. Federal Reserve's Federal Open Market Committee starts two-day meeting * U.S. Q4 employment costs, Jan consumer confidence, Chicago PMI business survey, Dallas Fed services index, Nov house prices* U.S. corp earnings: Exxon Mobil, Marathon, Pfizer, McDonald's, UPS, Amgen, Caterpillar, AMD, Stryker, Mondelez, Moody's, GM, MSCI, Electronic Arts, Spotify, Snap, Chubb, Western Digital, Juniper Networks, Boston Properties, Edwards Lifesciences, Match, Sysco, Corning, Pentair, Intl Paper, AO Smith, Dover (By Mike Dolan, editing by Ed Osmond, mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/EA/2023.02.01/Electronic Arts, WestRock fall; Stryker, Peloton rise.txt b/news/EA/2023.02.01/Electronic Arts, WestRock fall; Stryker, Peloton rise.txt new file mode 100644 index 0000000000000000000000000000000000000000..2b02f275086d6c3018b79deeffc8d84fd15fbf00 --- /dev/null +++ b/news/EA/2023.02.01/Electronic Arts, WestRock fall; Stryker, Peloton rise.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday:Advanced Micro Devices Inc., up $9.49 to $84.64.The chipmaker's fourth-quarter financial results beat Wall Street forecasts.Electronic Arts Inc., down $11.92 to $116.76.The maker of “The Sims”, “FIFA” and other video games cut its revenue forecast for its fiscal year.Peloton Interactive Inc., up $3.43 to $16.36.The exercise bike and treadmill company reported strong fiscal second-quarter revenue.Stryker Corp., up $25.14 to 278.95.The medical device maker gave investors a strong profit forecast for the year.Brinker International Inc., down 18 cents to $39.28.The operator of Chili’s Grill & Bar reported strong financial results, but warned about economic uncertainty potentially hurting its forecasts.Thermo Fisher Scientific Inc., up $17.03 to $587.36.The maker of scientific instruments and laboratory supplies gave investors an encouraging profit forecast.WestRock Co., down $4.97 to $34.27.The paper and packaging company withdrew its earnings forecast for the year citing economic uncertainty.Waste Management Inc., down 32 cents to $154.41.The garbage and recycling hauler's fourth-quarter profit and revenue fell short of Wall Street forecasts.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/EA/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt b/news/EA/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..4d971c2fd50c98f9986744551e5f5b1613fdce60 --- /dev/null +++ b/news/EA/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt @@ -0,0 +1 @@ +The Fed is widely seen as raising its target interest rate by a quarter of a percentage point in its first policy meeting of the year, after the rapid increases in 2022 to tame decades-high inflation.Investors will also likely parse Chair Jerome Powell news conference for clues on the trajectory of future rate hikes.Money markets are betting on one more 25 basis point (bps) hike in March, and a terminal rate of 4.9% in June. "A rise by 25 bps is likely to be interpreted as a more cautious move... officials will hope that the central bank's aggressive tightening slows economic activity and wage growth without causing a recessionary spike in the unemployment rate," said Richard Flynn, UK managing director at Charles Schwab.Recent readings have indicated that inflation is easing, with the Fed also looking at data which will determine the resilience of the labor market and the pace of wage growth.The ADP National Employment report, due at 0815 a.m. ET, is expected to show that private payrolls increased in January by 178,000, which is less than the 235,000 rise in the previous month, as per a Reuters poll. The survey will be seen as a precursor to the Labor Department's more comprehensive reading on nonfarm payrolls for January on Friday. On Tuesday, Wall Street indexes reversed declines and rallied when the Fed's preferred wages gauge, the U.S. Employment Cost index, showed its smallest increase in a year during the fourth quarter.Halfway into the busiest week of earnings season, videogame publisher Electronic Arts Inc slumped 10.1% in premarket trading on lowering its annual bookings forecast.Snap Inc tumbled 15% after the social media company said it expects current-quarter revenue to decline by as much as 10%. Other social media and internet firms like Meta Platforms Inc, Alphabet Inc and Pinterest were flat to 0.7% lower. Facebook parent Meta is expected to report quarterly results after the bell.Bucking the recent nervousness among chipmakers, Advanced Micro Devices Inc added 3.4% after projecting that it expects its business to improve in the second half of the year, boosting hopes that it is gaining on rival Intel Corp. Intel shares dipped 0.1%. At 7:25 a.m. ET, Dow e-minis were down 122 points, or 0.36%, S&P 500 e-minis were down 7.25 points, or 0.18%, and Nasdaq 100 e-minis were up 7.5 points, or 0.06%. Dow Jones Industrial Average component Amgen Inc fell 1.1% as the drugmaker said its fourth-quarter revenue fell slightly. As of Tuesday, quarterly earnings of S&P 500 firms are expected to decline 2.4%, improving from 3% decline in the previous session as per Refinitiv. (Reporting by Johann M Cherian and Shreyashi Sanyal in Bengaluru; Additional reporting by Sruthi Shankar; Editing by Sriraj Kalluvila)By Johann M Cherian \ No newline at end of file diff --git a/news/EA/2023.02.01/Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap... .txt b/news/EA/2023.02.01/Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap... .txt new file mode 100644 index 0000000000000000000000000000000000000000..94c1062d217e3295cb76267f64d928b4fd2096a2 --- /dev/null +++ b/news/EA/2023.02.01/Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap... .txt @@ -0,0 +1,29 @@ + +  +  +Corporate news: + +Advanced Micro Devices: the stock gains 1.4% after better-than-expected Q4 results. +Amgen: Q4 results are quite good, but the stock is not moving much after the session. +Electronic Arts: the video game publisher misses the quarterly consensus, causing the stock to drop more than 10% in after-hours trading. +GSK: reports fourth-quarter profit and revenue above estimates. +Novartis: Full-year revenue below expectations but profitability beats consensus. +Novo Nordisk: expects sales growth between 13% and 19% in 2023. +PayPal to cut nearly 7% of its global workforce. +Snap: stock loses 15% in after-hours trading after announcing a net loss in the fourth quarter and pessimistic forecasts +Software AG: the group is targeting a lower than expected operating margin in 2023. +Vale: the Brazilian mining giant's Q4 production came in below expectations. +T-Mobile US and Meta Platforms are expected to release their quarterly results after the close. + +  +In other news: + +The rout of Adani Enterprises and its subsidiaries continues in Mumbai, after attacks by short seller Hindenburg. +Contemporary Amperex Technology may launch a secondary listing in Zurich. +Credit Suisse is considering transferring its private equity business to the First Boston spin-off. +BMW raises prices on some models in China due to rising costs. +After poor performance, Intel is cutting executive pay. +Tesla is reportedly looking to build an assembly plant near the new Mexico City airport. +Short seller Quintessential Capital Management pins Darktrace. + +Today's main earnings reports: Meta Platforms, Alibaba, Novo Nordisk, Costco Wholesale, Thermo Fisher, T-Mobile, Novartis, Keyence, Glencore, GSK, Vodafone, BBVA, Orsted... All the agenda is here. diff --git a/news/EA/2023.02.01/Vodafone's Europe woes, Darktrace in trouble: Marke...txt b/news/EA/2023.02.01/Vodafone's Europe woes, Darktrace in trouble: Marke...txt new file mode 100644 index 0000000000000000000000000000000000000000..e7a08a8bd8d7edbb168640f7fbfc02c5617e2e05 --- /dev/null +++ b/news/EA/2023.02.01/Vodafone's Europe woes, Darktrace in trouble: Marke...txt @@ -0,0 +1,9 @@ + +Orpea, Vonovia, Vodafone, Darktrace, GSK, BBVA, Universal Music Group, Intel, Advanced Micro Devices, Electronic Arts, Exxon, Snap, Xylem & Evoqua Water Technologies, Spotify, General Motors, PayPal, Nomura and SK Hynix feature in this press review! + + + + +  + +  diff --git a/news/EA/2023.02.01/Wall St falls as Fed decision looms; AMD boosts chipmakers.txt b/news/EA/2023.02.01/Wall St falls as Fed decision looms; AMD boosts chipmakers.txt new file mode 100644 index 0000000000000000000000000000000000000000..33bc8bed16cfe5038070f37e6d43e2cd7590f998 --- /dev/null +++ b/news/EA/2023.02.01/Wall St falls as Fed decision looms; AMD boosts chipmakers.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Fed's rate decision expected at 1400 ET*AMD expects strong second half of 2023*Amgen weighs on Dow as Q4 revenue falls slightly*EA cuts bookings view, shares slide*Indexes down: Dow 1.12%, S&P 0.63%, Nasdaq 0.44%Feb 1 (Reuters) - U.S. stock indexes fell on Wednesday +ahead of the Federal Reserve's decision on interest rates later +in the day, while an upbeat outlook from Advanced Micro Devices +lifted chipmakers.The Fed is widely seen as raising its target interest rate +by a quarter of a percentage point in its first policy meeting +of the year, after rapid increases in 2022 to tame decades-high +inflation.Money markets are betting on one more 25 basis point (bps) +hike in March, and a terminal rate of 4.9% in June."It's really boiling down to a longer term outlook +beyond this policy meeting and where this peak terminal rate +with Fed funds is going to be," Adam Turnquist, chief technical +strategist at LPL Financial.Recent readings have indicated that inflation is easing, +with the Fed also looking at data that will determine the +resilience of the labor market and the pace of wage growth.Meanwhile, data showed U.S. job openings unexpectedly rose +in December ahead of the Labor Department's comprehensive report +on nonfarm payrolls for January due on Friday.Separately, data showed U.S. manufacturing contracted +further in January as higher interest rates stifled demand for +goods."It's going to come down to the narrow line between +avoiding a recession and entering a recession. That's the Fed's +issue as they finish up their two-day policy meeting today," +Turnquist added.All three indexes had a strong start to the year, with +the S&P and the Dow witnessing their first gain +for January since 2019 as investors returned to markets, which +were bruised in the previous year by a hawkish Fed.Advanced Micro Devices Inc added 8.0% as the +semiconductor maker said it expects its business to improve in +the second half of the year, propping the Philadelphia SE +Semiconductor index, which climbed 1.8%.All of the 11 major sectors on the S&P 500 were down, with +technology shares falling the least.Snap Inc tumbled 14.2% after the social media +company said it expects current-quarter revenue to decline by as +much as 10%.Facebook parent Meta Platforms Inc dipped 0.1% +ahead of reporting fourth-quarter results after the bell.At 12:21 p.m. ET, the Dow Jones Industrial Average +was down 381.36 points, or 1.12%, at 33,704.68, the S&P +500 was down 25.69 points, or 0.63%, at 4,050.91, and the +Nasdaq Composite was down 51.42 points, or 0.44%, at +11,533.13.Dow component Amgen Inc dropped 4.8% as the +drugmaker said its fourth-quarter revenue fell slightly, while +videogame publisher Electronic Arts Inc slumped 12.0% on +lowering its annual bookings forecast.Seventy percent of the 200 companies in the S&P 500 that +have reported fourth-quarter earnings have topped Wall Street +expectations. Analysts now see earnings of S&P 500 firms +declining 2.4% for the quarter, per Refinitiv estimates.Declining issues outnumbered advancers for a 1.48-to-1 +ratio on the NYSE and for a 1.13-to-1 ratio on the Nasdaq.The S&P index recorded 13 new 52-week highs and no new low, +while the Nasdaq recorded 75 new highs and 21 new lows.(Reporting by Johann M Cherian and Shreyashi Sanyal in +Bengaluru; Additional reporting by Ankika Biswas; Editing by +Sriraj Kalluvila and Maju Samuel) \ No newline at end of file diff --git "a/news/EA/2023.02.03/Max Verstappen Signs With EA Sports\342\204\242.txt" "b/news/EA/2023.02.03/Max Verstappen Signs With EA Sports\342\204\242.txt" new file mode 100644 index 0000000000000000000000000000000000000000..a43e92ec5492b91ea8475edc337e7d62ee833e29 --- /dev/null +++ "b/news/EA/2023.02.03/Max Verstappen Signs With EA Sports\342\204\242.txt" @@ -0,0 +1,19 @@ + +Electronic Arts Inc. (NASDAQ: EA) today announced that EA SPORTS™, a leader in interactive sports entertainment, has signed a partnership with back-to-back Formula 1® World Champion Max Verstappen. The agreement will see the Oracle Red Bull Racing driver collaborate with the brand to create content across the EA SPORTS portfolio. The deal also includes sponsorship with Verstappen for the 2023 season, with EA SPORTS branding featuring on the chin of his race helmet. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230203005034/en/EA SPORTS partners with Two-Time Reigning Formula 1® World Champion Max Verstappen (Photo: Business Wire) +“Max is a tenacious competitor and true champion who shares a deep love of games and play,” said Andrea Hopelain, SVP of Brand for EA SPORTS & Racing. “As he races into Formula 1 history, we are excited to collaborate with him as one of the best athletes in the world to bring more fans together through our EA SPORTS experiences.” + +“Whether it’s playing games with my friends or staying competitive when away from the track, EA SPORTS has always been a big part of my life,” said Max Verstappen. “EA SPORTS is an icon for so many millions of fans, and I’m proud to represent them for the 2023 season.” + +Over the past two seasons, Max Verstappen has become one of the biggest names in the sport. Having won his first FIA Formula One World Championship™ on the final race of the 2021 season, Max dominated last year, taking the title at the FORMULA 1 HONDA JAPANESE GRAND PRIX 2022 with four races to spare. + +PRESS ASSETS ARE AVAILABLE AT EAPressPortal.com + +About Electronic Arts + +Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. + +In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™, Plants vs. Zombies™ and F1®. More information about EA is available at www.ea.com/news. + +EA SPORTS, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall, and Plants vs. Zombies are trademarks of Electronic Arts Inc. John Madden, NFL, FIFA, F1 and Formula 1 are the property of their respective owners and used with permission. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230203005034/en/ \ No newline at end of file diff --git a/news/EA/2023.02.03/PUMP | DUMP : Strong results for Align and AMD.txt b/news/EA/2023.02.03/PUMP | DUMP : Strong results for Align and AMD.txt new file mode 100644 index 0000000000000000000000000000000000000000..1bec17e5bcc460c5962747fd9ea37fc6de6edb60 --- /dev/null +++ b/news/EA/2023.02.03/PUMP | DUMP : Strong results for Align and AMD.txt @@ -0,0 +1,15 @@ + +This week, Zur Rose, Align Technology, ITM Power, Advanced Micro Devices, Adani Enterprises, Software AG, Electronic Arts, ConocoPhillips, and Kesko are featured! + + + + +  + +  +  +  +  +  +  +  diff --git a/news/EA/2023.02.06/'Call of Duty' steers Activision sales in tough quarter for game makers.txt b/news/EA/2023.02.06/'Call of Duty' steers Activision sales in tough quarter for game makers.txt new file mode 100644 index 0000000000000000000000000000000000000000..14d823ee42fa661e2d00b0b21c5afc692deee68f --- /dev/null +++ b/news/EA/2023.02.06/'Call of Duty' steers Activision sales in tough quarter for game makers.txt @@ -0,0 +1,32 @@ +Feb 6 (Reuters) - Videogame publisher Activision +Blizzard beat Wall Street estimates for fourth-quarter +adjusted sales on Monday, thanks to the success of the latest +game in its "Call of Duty" franchise.A string of launches in October and November, including +"Call of Duty: Modern Warfare II", "Warzone 2.0" and "World of +Warcraft: Dragonflight" from the fantastical world of "Azeroth", +helped the company hold the attention of the gaming community.Activision's results are a bright spot as some of its +industry peers including Electronics Arts, Take-Two +Interactive Software and Xbox maker Microsoft +have reported drab results.The video-gaming industry is feeling the squeeze of +inflation as American households tighten their budgets. However, +Activision has managed to largely avoid the issues plaguing the +wider industry and keep the buzz around its news launches +through its focus on building strong gaming franchises."Modern Warfare II" delivered the highest +opening-quarter sell-through in the franchise's history and +crossed the $1 billion mark within 10 days of its late-October +launch, the company said."Our specialists have highlighted a flight to quality by +gamers and that is what Activision Blizzard is experiencing," +said Nicholas Cauley, an analyst at global research firm Third +Bridge.Activision expects its full-year adjusted sales to grow at +least in high-single digits, bolstered by the launch of games +including "Diablo IV."Adjusted sales in the quarter ended Dec. 31 came in at $3.57 +billion, compared with analysts' estimate of $3.16 billion, +according to Refinitiv data.Activision's $69-billion takeover by Microsoft is being +challenged by the U.S. Federal Trade Commission and being +investigated by EU authorities. Activision said the companies +are continuing to engage with regulators reviewing the +transaction.Fourth quarter net income fell to $403 million, or 51 cents +per share, from $564 million, or 72 cents per share, a year +earlier. +(Reporting by Chavi Mehta in Bengaluru; Editing by Anil +D'Silva) \ No newline at end of file diff --git a/news/EA/2023.02.06/EA SPORTS Madden NFL 23 Predicts Philadelphia Eagles To Win Super Bowl LVII 31-17.txt b/news/EA/2023.02.06/EA SPORTS Madden NFL 23 Predicts Philadelphia Eagles To Win Super Bowl LVII 31-17.txt new file mode 100644 index 0000000000000000000000000000000000000000..f7b606eb7f416de0fe1aca554c38f9d9284462d7 --- /dev/null +++ b/news/EA/2023.02.06/EA SPORTS Madden NFL 23 Predicts Philadelphia Eagles To Win Super Bowl LVII 31-17.txt @@ -0,0 +1,23 @@ + +Electronic Arts Inc. (NASDAQ: EA) is delivering a variety of ways for football fans across the world to celebrate the conclusion of the 2023 National Football League (NFL) Season whether online, in person at Super Bowl LVII, or through play in EA SPORTS™ Madden NFL 23. Madden NFL 23 will show up everywhere during one of the most electric weeks in sports as fans, brands, athletes and more flock to the most authentic NFL simulation experience to express their fandom. Fans can interact directly with EA SPORTS online with today’s reveal of the official Madden NFL 23 Super Bowl LVII Prediction, in Madden NFL 23 with fresh Super Bowl content and new experiences, in person in Phoenix, Arizona at a community event that unites some of the biggest brands in sports to inspire the next generation of fans, and even more fan experiences around Super Bowl LVII. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230206005435/en/Madden NFL 23 predicts the Philadelphia Eagles to win Super Bowl LVII 31 to 17 over the Kansas City Chiefs (Graphic: Business Wire) +“Madden NFL has been the preeminent interactive entertainment brand tied to football culture for decades and the Super Bowl is the marquee event that brings all sports fans together around a shared love of world class NFL football,” said Julie Foster, VP of EA SPORTS Brand. “We’re excited to be back in Arizona and to continue entertaining football fans everywhere through engaging experiences that only Madden NFL can deliver.” + +Here is a snapshot of how fans can engage with Madden NFL 23 during Super Bowl Week: + +Football fans can jump into Madden NFL 23 now by purchasing the game at an up to 70 percent discount.* To stay up-to-date on all-things Madden NFL 23 follow Twitter, Facebook and Instagram. + +*Offers may vary or change. See retailer site for details. + +Visit: EAPressPortal.com for Madden NFL 23 assets + +Madden NFL 23 is developed in Orlando, Florida and Madrid, Spain by EA Tiburon for PlayStation®4, PlayStation®5, Xbox One, Xbox Series X|S, PC via EA app for Windows, Origin™, Steam® and Epic Games Store. Download Madden NFL 23 Mobile from the Apple App Store or Google Play Store now. + +About Electronic Arts + +Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. + +In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™, Plants vs. Zombies™ and F1®. More information about EA is available at www.ea.com/news. + +EA SPORTS, Ultimate Team, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are trademarks of Electronic Arts Inc. John Madden, NFL, NFL Players Association, OneTeam Partners, FIFA and F1 are the property of their respective owners and used with permission. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230206005435/en/ \ No newline at end of file diff --git a/news/EA/2023.02.06/Take-Two's dour forecast deepens concern in videogame industry.txt b/news/EA/2023.02.06/Take-Two's dour forecast deepens concern in videogame industry.txt new file mode 100644 index 0000000000000000000000000000000000000000..3033bf09378ac0ef6fdd643455d779166dd67ae5 --- /dev/null +++ b/news/EA/2023.02.06/Take-Two's dour forecast deepens concern in videogame industry.txt @@ -0,0 +1,23 @@ +Feb 6 (Reuters) - Take-Two Interactive Software Inc lowered its +annual bookings forecast on Monday, signaling a deeper struggle faced by +videogame publishers to keep gamers glued amid a weakening economy and broader +slump in the gaming market.The dour forecast follows the disappointing show from rival Electronic Arts +and Xbox maker Microsoft Corp, increasing fears that the slump +in gaming market might sustain this year."The repeated misses by major publishers evidences the softer market for +video games after a strong period during the last few years and tests their +ability to navigate the coming quarters as they compete for consumer attention +and spending," said Joost Van Dreunen, a lecturer at New York University Stern +School of Business.Shares of New York-based Take-Two fell 1% in extended trading.Take-Two Chief Executive Strauss Zelnick said net bookings took a hit as +"consumers shifted their holiday spending toward established blockbuster +franchises and titles that were offered with pricing promotions in light of +macroeconomic conditions."He added that the trend affected performance of some new releases.Despite releasing to good reviews on Dec. 2, Take-Two's role-playing game +"Marvel's Midnight Suns" was the 14th most downloaded title on Sony's +PlayStation 5 in December, trailing even the two-year-old title "Spider-Man: +Miles Morales."As inflation squeezes budgets, more gamers are expected to stick to their +favorite gaming franchises, instead of experimenting with newer titles from +other studios, analysts have said.Activision's latest title in this popular franchise "Call of Duty" helped it +to beat Street estimates for fourth-quarter adjusted sales on Monday.Take-Two posted third quarter adjusted sales of $1.38 billion, compared to +analysts' estimate of $1.46 billion. Excluding items, it earned 86 cents per +share during the quarter.The company now expects full-year adjusted sales between $5.2 billion and +$5.25 billion, compared with $5.4 billion to $5.5 billion forecast previously. +(Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/EA/2023.02.09/Siemens stock takes off on guidance upgrade, earnings beat.txt b/news/EA/2023.02.09/Siemens stock takes off on guidance upgrade, earnings beat.txt new file mode 100644 index 0000000000000000000000000000000000000000..b0e34ea269bc98266bc7e73790612e3ad8efe90a --- /dev/null +++ b/news/EA/2023.02.09/Siemens stock takes off on guidance upgrade, earnings beat.txt @@ -0,0 +1 @@ +The trains-to-industrial-software group's stock was 7.1% higher in early trading, hitting its highest level since January 2022 and making it the second biggest gainer in the Stoxx Europe 600 Industrial Goods & Services Index.Siemens reported better-than-expected quarterly profit at its industrial business late on Wednesday and raised its full-year sales and profit guidance.Pre-announcing the results, which had been due on Thursday, Siemens said it also now expected full-year revenue growth of 7% to 10%, up from its previous forecast for 6% to 9%.Supply chain bottlenecks are easing, Chief Executive Roland Busch told reporters on Thursday, and the company's "clear goal" was to shorten delivery times.Siemens was also working through a record 102 billion euro ($110 billion) order backlog that will generate around 40 billion euros in revenue in the next three quarters, the company said. Siemens' business year starts in October."After our flying start to fiscal 2023, we will further leverage our exceptional order backlog and execution strength. This gives a high confidence level despite a volatile environment," Busch said."I'm confident that we'll reach our growth targets."Busch said many countries had launched investment programmes in areas such as semiconductors, or to combat climate change with green technologies.Chief Financial Officer Ralf Thomas said the investment mood within industry also looked healthy, not only in traditional manufacturing but also areas like food and beverage and pharmaceuticals production.Siemens was stocking up on its own inventories to maintain supplies and had been able to offset higher wages and raw material costs with productivity gains and price increases, Thomas said."This is a stellar start to the year," said JP Morgan analyst Andrew Wilson, who said he expected the stock to perform strongly.($1 = 0.9291 euros) (Reporting by John Revill; editing by John Stonestreet)By John Revill \ No newline at end of file diff --git "a/news/EA/2023.02.14/Apex Legends\342\204\242 4th Anniversary Marks a New Era for Globally Beloved Battle Royale,...txt" "b/news/EA/2023.02.14/Apex Legends\342\204\242 4th Anniversary Marks a New Era for Globally Beloved Battle Royale,...txt" new file mode 100644 index 0000000000000000000000000000000000000000..88c87774477276157112168b2b14fa3e97aa5bb7 --- /dev/null +++ "b/news/EA/2023.02.14/Apex Legends\342\204\242 4th Anniversary Marks a New Era for Globally Beloved Battle Royale,...txt" @@ -0,0 +1,25 @@ + +A new era in the Apex Games begins today. Electronic Arts Inc. (NASDAQ: EA) and Respawn Entertainment are marking the 4th anniversary of Apex Legends, the beloved hero shooter and Battle Royale game, with the most impactful update since launch that touches virtually every aspect of the game in Apex Legends: Revelry. Respawn has released sweeping updates and massive changes to the Apex Legends gameplay experience introducing an expanded new player experience, overhauling how all Legends play with the new class system and rolling out the most requested mode, Team Deathmatch, for the first time. With millions of players worldwide entering the fray each season, Respawn has continued to iterate, innovate and evolve the Apex Legends experience since launch. The studio has introduced 15 and counting new, unique and diverse Legends, added four new dynamic maps, released an array of new weapons, continued to experiment with new limited and permanent modes and much more. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230214005127/en/Apex Legends 4th Anniversary Marked by Revelry Update (Photo: Business Wire) +“Respawn’s philosophy on Apex Legends has always been about delivering that exciting moment-to-moment competitive FPS action that simply feels great for players,” said Steven Ferreira, Game Director, Apex Legends. “The 4th anniversary and launch of Revelry is an exciting next chapter in Apex Legends, setting up a new era with sweeping meta changes for the community that has been playing for years while providing new players the best entry point to drop into the Apex Games yet. On behalf of the entire team at Respawn, we want to thank each and every Apex Legends player worldwide for joining us on this remarkable journey, and we look forward to many more years of dropping into the arena together.” + +As part of Revelry, the 16th major game update in four years, Apex Legends will remaster its Legend Class system, dividing the roster of 23 Legends into new roles including Assault, Skirmisher, Recon, Controller and Support, each with their own special perks to make each class feel more impactful in a match. A new player experience through the Orientation Match system will provide those new to the Apex Games the ability to learn core mechanics through matches featuring bots and other new players. For the first time ever, the iconic multiplayer mode Team Deathmatch makes its way into the competition with fresh new twists one can only encounter in Apex Legends. In the weeks ahead, the new Mixtape feature will offer players a permanent playlist of modes including Team Deathmatch, Control and Gun Run, providing fans even more ways to compete and experience Apex Legends signature gameplay and movement that has taken the world by storm. Additionally, the Nemesis, a new energy class assault rifle, and an array of Legend updates and balancing changes will be introduced to Apex Legends. + +Apex Legends continues to expand and grow its all-encompassing competitive entertainment experience around the world. The Apex Legends Global Series (ALGS), now in its third year, gives competitors worldwide a chance to win a piece of the $5M USD prize pool that will culminate in the ALGS Championship later in the year. Earlier this month, the iconic esports team TSM won the ALGS Year 3 Split 1 Playoffs in front of a sold-out Finals crowd at London's Copper Box Arena with a global peak event viewership of more than 500,000, rising to the top of a field of 40 Apex Legends teams from all over the world. The ALGS also features a clear path to the Pro League through its Challenger Circuit events, which provide additional squads an opportunity to showcase their skills and compete against Pro League teams for a chance to move up to the top division. + +Apex Legends and the next major game update Revelry is now available for the PlayStation 4, PlayStation 5, Xbox One, Xbox Series X|S, Nintendo Switch, and PC via EA App and Steam. For more news about Apex Legends, visit the game’s official Twitter, Instagram, YouTube pages or visit www.playapex.com for the latest updates. + +For more information on the Apex Legends Global Series and the Official Rules visit: https://www.ea.com/games/apex-legends/compete + +This announcement may change as we listen to community feedback and continue developing and evolving our Live Service & Content. We will always strive to keep our community as informed as possible. For more information, please refer to EA’s Online Service Updates at https://www.ea.com/service-updates. + +About Electronic Arts: + +Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices, and personal computers. + +In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™, Plants vs. Zombies™ and F1®. More information about EA is available at www.ea.com/news. + +EA SPORTS, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are trademarks of Electronic Arts Inc. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission. + +Category: EA Studios +View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005127/en/ \ No newline at end of file diff --git "a/news/EA/2023.02.14/\302\243 City A.M. columnist Mark Kleinman ....txt" "b/news/EA/2023.02.14/\302\243 City A.M. columnist Mark Kleinman ....txt" new file mode 100644 index 0000000000000000000000000000000000000000..34d089bddce640f41632d3e34832b81fdc60bb86 --- /dev/null +++ "b/news/EA/2023.02.14/\302\243 City A.M. columnist Mark Kleinman ....txt" @@ -0,0 +1 @@ +£ City A.M. columnist Mark Kleinman reported last week that the Premier League video game rights are being sold to Electronic Arts for £500m in a six year deal. This is twice the previous amount that had been previously agreed. It shows two megatrends of the future of our economy, an increase in the rise of the sports economy, but also that of video games. The UK is a world leader in both and we should be very proud.(c) 2023 City A.M., source Newspaper \ No newline at end of file diff --git "a/news/EA/2023.02.16/American League Rookie of the Year Julio Rodr\303\255guez Named Cover Athlete for EA SPORTS&tr...txt" "b/news/EA/2023.02.16/American League Rookie of the Year Julio Rodr\303\255guez Named Cover Athlete for EA SPORTS&tr...txt" new file mode 100644 index 0000000000000000000000000000000000000000..c5a44ee74ba1cd87e14f5ab140e617667c85253b --- /dev/null +++ "b/news/EA/2023.02.16/American League Rookie of the Year Julio Rodr\303\255guez Named Cover Athlete for EA SPORTS&tr...txt" @@ -0,0 +1,41 @@ + +Electronic Arts Inc. (NASDAQ: EA) announced today, in collaboration with Major League Baseball (MLB) and MLB Players, Inc. (MLBPI), that Seattle Mariners center fielder and reigning American League Rookie of the Year Julio Rodríguez will be the cover athlete for EA SPORTS MLB Tap Sports Baseball 2023. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230213005610/en/American League Rookie of the Year Julio Rodríguez Named Cover Athlete for EA SPORTS™ MLB Tap Sports™ Baseball 2023 (Graphic: Business Wire) +“Being named cover athlete and joining the list of amazing players who have been EA SPORTS cover athletes is truly an honor,” said Rodríguez, the 22-year-old All-Star slugger. + +Rodríguez took Major League Baseball by storm last season with a .284 batting average, 28 home runs and 75 RBI in 511 at bats in his rookie year. In 2022, Rodríguez became only the fourth rookie outfielder ever to win the Silver Slugger award and the fastest player in MLB history to hit 25 home runs and 25 stolen bases in a single-season. The Dominican Republic native also placed second in the 2022 T-Mobile Home Run Derby, with an incredible 81 home runs across three rounds, and was one of only six Mariners ever to be elected to the All-Star game as a rookie. + +“Julio Rodríguez is one of the most dynamic young players in all of baseball and we’re thrilled for him to be the face of Tap Sports Baseball this year,” said Andrew Pedersen, Vice President of Mobile Sports at Electronic Arts. “This is an exciting new era for the Tap Sports Baseball franchise as we officially welcome the game to the EA SPORTS family and believe players will have the best mobile baseball experience to date as a result.” + +EA SPORTS MLB Tap Sports Baseball 2023 also released a video trailer featuring Rodríguez while giving players a first look at gameplay for this year’s game. The trailer can be viewed here: EA SPORTS™ MLB Tap Sports™ Baseball ‘23 | Official Cover Athlete Reveal Trailer. + +This year marks the 10th anniversary of the Tap Sports Baseball franchise and will include a brand new single player experience, bringing real-life MLB moments to players’ finger tips. Players can play through highlights from Rodríguez’s incredible debut season and other historic MLB games. New animations, ballpark improvements, and crowd updates make this the most immersive Tap Sports Baseball experience yet. More details on EA SPORTS MLB Tap Sports Baseball 2023 will be shared closer to launch. + +Known for its simple tap-to-play approach that makes the game easy to play for all baseball fans, Tap Sports Baseball has more than 50 million franchise downloads worldwide. + +With the baseball season right around the corner, fans can pre-register for EA SPORTS MLB Tap Sports Baseball 2023 today, and the game will be available as a free* download worldwide in March 2023 via the App Store™ for iPhone and iPad, Google Play™ for Android devices and Amazon. + +For EA SPORTS MLB Tap Sports Baseball 2023 assets, visit: EAPressPortal.com and follow on Twitter and Facebook for the latest updates. + +Major League Baseball trademarks and copyrights are used with permission of Major League Baseball. Visit MLB.com. + +*Persistent internet connection required. Age restrictions apply. Includes in-game purchases (including random items). + +About Electronic Arts + +Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. + +In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™, Plants vs. Zombies™ and F1®. More information about EA is available at www.ea.com/news. + +EA SPORTS, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are trademarks of Electronic Arts Inc. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission. + +About Major League Baseball + +Major League Baseball (MLB) is the most historic professional sports league in the United States and consists of 30 member clubs in the U.S. and Canada, representing the highest level of professional baseball. Led by Commissioner Robert D. Manfred, Jr., MLB remains committed to making an impact in the communities of the U.S., Canada and throughout the world, perpetuating the sport's larger role in society and permeating every facet of baseball's business, marketing, community relations and social responsibility endeavors. MLB currently features record levels of competitive balance, continues to expand its global reach through programming and content to fans all over the world, and registered records in games and minutes watched last season on MLB.TV. With the continued success of MLB Network and MLB digital platforms, MLB continues to find innovative ways for its fans to enjoy America's National Pastime and a truly global game. For more information on Major League Baseball, visit www.MLB.com. + +About MLB Players, Inc. + +MLB Players, Inc. is the business arm of the Major League Baseball Players Association. The Major League Baseball Players Association (www.MLBPLAYERS.com) is the collective bargaining representative for all professional baseball players of the 30 Major League Baseball teams and serves as the exclusive group licensing agent for commercial and licensing activities involving active Major League Baseball players. On behalf of its members, it operates the Players Choice licensing program and the Players Choice Awards, which benefit the needy through the Major League Baseball Players Trust (www.PlayersTrust.org), a charitable foundation established and run entirely by Major League Baseball players. Follow: @MLBPlayersInc on Instagram and Twitter. + +Category: EA Sports +View source version on businesswire.com: https://www.businesswire.com/news/home/20230213005610/en/ \ No newline at end of file diff --git "a/news/EA/2023.02.17/Embark on an Epic New Adventure Today in WILD HEARTS\342\204\242, EA and KOEI TECMO's AAA Hu...txt" "b/news/EA/2023.02.17/Embark on an Epic New Adventure Today in WILD HEARTS\342\204\242, EA and KOEI TECMO's AAA Hu...txt" new file mode 100644 index 0000000000000000000000000000000000000000..8c5db35cfbab0c22bfc8d51b18a4800ac26a7374 --- /dev/null +++ "b/news/EA/2023.02.17/Embark on an Epic New Adventure Today in WILD HEARTS\342\204\242, EA and KOEI TECMO's AAA Hu...txt" @@ -0,0 +1,45 @@ + +Today, Electronic Arts Inc. (NASDAQ: EA) and KOEI TECMO welcome hunters to the land of Azuma in WILD HEARTS™, available now on PlayStation 5, Xbox Series X|S and PC via the EA App, Steam and Epic Game Store. WILD HEARTS is a new kind of hunting game that whisks players away on an epic adventure in fantasy medieval Japan. With the help of a sophisticated ancient technology known as Karakuri, players will battle giant nature-infused Kemono beasts that are rampaging through the land of Azuma at the cost of its citizens' lives. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230217005034/en/WILD HEARTS™ is available now on PlayStation 5, Xbox Series X|S and PC via the EA App, Steam and Epic Game Store (Graphic: Business Wire) +“With WILD HEARTS, our mindset has always been to create a hunting game that offers a new and innovative experience for players in a beautiful and fantastical setting,” said Yosuke Hayashi, Executive Vice President of KOEI TECMO GAMES CO, LTD. “The freedom and flexibility of the unique Karakuri system, combined with the fearsome, nature-infused Kemono, as well the ability to team up and hunt with friends online in co-op, creates for a vastly new combat experience – one that urges players to be creative and in control. We’re really looking forward to seeing how players explore all the possibilities.” + +“Together with KOEI TECMO’s Omega Force team, we’re excited to usher the vibrant fantasy world of WILD HEARTS into our lineup of EA Originals titles,” said Stuart Lang, Vice President, Global Brand, Electronic Arts. “Omega Force has raised the bar for the hunting genre, redefining the AAA hunting experience for a new generation of players.” + +From the sun-soaked Amaterasu hawk to the massive Kingtusk wild boar to the commanding Golden Tempest wind tiger, Kemono wield the power of nature to reshape their surroundings to suit their needs. After a dreadful fight with the winter wolf Deathstalker, players become wielders of the ancient Karakuri technology and are compelled to restore balance across the region. Dormant for many years, the now restored Karakuri technology allows players to adapt and shape their environment into creative hunting grounds ideal for taking down the giant Kemono. + +Players must learn to master WILD HEARTS’ Karakuri systems – whether constructing a basic crate, spring and torch Karakuri, learning Fusion Karakuri to counter Kemono attacks, or drawing power from the land to construct massive traversal Dragon Karakuri. How players use each type of Karakuri to enhance their combat abilities will be entirely up to them. + +In WILD HEARTS, players journey through Azuma as a lone wolf or pack-hunt with up to two friends thanks to the game’s co-op and crossplay features across all platforms. Players can expand their battle plans and go on special missions while pack hunting, join other hunters in the world, or take on Kemono on their own. + +The hunt isn’t over at launch! WILD HEARTS players can look forward to a series of post-launch content updates available at no additional cost starting next month. The March update will introduce the Deeply Volatile Hellfire Laharback and a new Grimstalker wolf Kemono subspecies - kin to the fearsome Deathstalker - in addition to new quests, new armor and weapon variants, new talismans, new emotes, chat stamps and more. Stay tuned for more details on future WILD HEARTS content. + +WILD HEARTS standard edition is available now in retail and digital storefronts for PlayStation 5, Xbox Series X|S and PC via the EA App, Steam and Epic Game Store for $69.99 USD. The game will be accessible to players with voice overs in English, Japanese, French, Italian, German and Spanish. + +EA Play members* can join the hunt in WILD HEARTS for up to 10-hours, battling mighty Kemono as they play up to the gates of Minato, while EA Play Pro members now have unlimited access to the Karakuri Deluxe Edition**, which features two cosmetic armor sets (Karakuri Samurai & Karakuri Ninja), a decorative Tsukumo Lantern, a variety of chart stamps, and three different emotes - including the Fighting Spirit, Grovel and Conch. + +Watch the Official Story Trailer here. For more information and to stay up to date on WILD HEARTS, visit https://www.ea.com/games/wild-hearts/wild-hearts. + +*Conditions, limitations and exclusions apply. See tos.ea.com/legalapp/eaplay/US/en/PC/ for details. + +**Conditions and restrictions apply. See https://www.ea.com/games/wild-hearts/wild-hearts/disclaimers for details. + +PRESS ASSETS ARE AVAILABLE AT EAPressPortal.com + +About EA Originals + +This is EA Originals. A place where untold stories, unheard voices, and unseen worlds are discovered. Will you turn back? Or press forward? To discover more, visit www.ea.com/ea-originals. + +About KOEI TECMO + +KOEI TECMO GAMES CO., LTD. is a Japanese digital entertainment company based in Yokohama that provides game content for a variety of platforms, including PCs, video game consoles, and mobile devices. Part of KOEI TECMO GAMES, developer Omega Force is responsible for iconic games across a range of genres, from hack-and-slash, to hunting action games, and more. In addition to its popular WARRIORS series, the studio is also known for its work on the hunting action game Toukiden, as well as many collaborative titles with leading IPs. + +About Electronic Arts + +Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. + +In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™, Plants vs. Zombies™ and F1® . More information about EA is available at www.ea.com/news. + +EA SPORTS, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are trademarks of Electronic Arts Inc. STAR WARS © & TM 2015 Lucasfilm Ltd. All rights reserved. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission. + +Category: EA Studios +View source version on businesswire.com: https://www.businesswire.com/news/home/20230217005034/en/ \ No newline at end of file diff --git a/news/EA/2023.02.21/Microsoft's president to push Activision deal at EU hearing; Google, Nvidia also presen...txt b/news/EA/2023.02.21/Microsoft's president to push Activision deal at EU hearing; Google, Nvidia also presen...txt new file mode 100644 index 0000000000000000000000000000000000000000..fd74ca7c99b3daa9484f19abd642ab24a72d9102 --- /dev/null +++ b/news/EA/2023.02.21/Microsoft's president to push Activision deal at EU hearing; Google, Nvidia also presen...txt @@ -0,0 +1,35 @@ +BRUSSELS, Feb 21 (Reuters) - Microsoft +President Brad Smith on Tuesday will seek to convince EU +antitrust regulators at a closed hearing that the U.S. software +giant's $69 billion bid for "Call of Duty" maker Activision +Blizzard will boost competition.Smith will lead a delegation of 18 senior executives, +including Microsoft Gaming Chief Executive Officer Phil Spencer, +while Activision will be represented by its CEO Robert Kotick, a +European Commission document seen by Reuters showed.The hearing will allow Xbox maker Microsoft to gauge the +mood among senior EU and national competition officials and +European Commission lawyers ahead of the submission of remedies +to address antitrust concerns."I think we will make clear that our acquisition of +Activision Blizzard will bring more games to more people on more +devices and platforms than ever before," Smith told reporters on +his way to the hearing.Microsoft was willing to address concerns with "Call of +Duty" licensing offers similar to the 10-year deal with Nintendo +and regulatory undertakings, Smith added, without +providing any further details.Microsoft announced the Activision acquisition in January +last year to take on leaders Tencent and Sony +, but has run into regulatory headwinds in Europe, +Britain and the United States.Sony, which wants the deal to be blocked, sent its gaming +chief Jim Ryan.Alphabet's Google and chip designer and computing +firm Nvidia Corp, which has a gaming business, also +took part in the hearing."The European Commission asked for our views in the course +of their inquiries into this issue. We will continue to +cooperate in any processes, when requested, to ensure all views +are considered," a Google spokesperson said.Nvidia declined to comment. The European Games Developer +Federation, which has said the deal will allow Microsoft to +challenge Apple, Google and Tencent, is one of the +participants.Video game distributor Valve, video game publisher +Electronic Arts and the German competition watchdog and +its peers in Belgium, the Czech Republic, Finland, France, +Italy, Portugal, Spain and Sweden will also be taking part in +the event. +(Reporting by Foo Yun Chee; Editing by Chris Reese and Shounak +Dasgupta) \ No newline at end of file diff --git a/news/EA/2023.02.24/EA founder Trip Hawkins dives into Web3 with Barcelona-based startup.txt b/news/EA/2023.02.24/EA founder Trip Hawkins dives into Web3 with Barcelona-based startup.txt new file mode 100644 index 0000000000000000000000000000000000000000..0fb67713962ec73dafcd60f2344de803ba44b066 --- /dev/null +++ b/news/EA/2023.02.24/EA founder Trip Hawkins dives into Web3 with Barcelona-based startup.txt @@ -0,0 +1 @@ +The founder of Electronic Arts will join as co-founder and security chief of Games for a Living (GFAL), Hawkins told Reuters in an interview.GFAL publishes titles compatible with blockchain technology across consoles, personal computers and smartphones - commonly called Web3.Interest for Web3 gaming has risen over the past year as it is touted to attract more cryptocurrency users. Players can own, sell, and trade in-game goods in such games.Hong Kong-based blockchain gaming developer Animoca Brands, which backs popular NFT game Axie Infinity, raised more than $500 million in 2022."Web3 is the bridge to the metaverse," Hawkins said on Thursday. "And if we're going to make a metaverse, the economy of the metaverse has to be more like the real world."Although there are concerns around security as "cyberwallets" are more prone to hacking, developers are also looking to diversify their platforms amid stunted growth and high app-store fees.Founded in 2021 by former King executive Manel Sort, Barcelona-based GFAL had a post-money valuation of 13.2 million euros ($13.96 million) after its latest funding round last year.($1 = 0.9451 euros) (Reporting by Eva Mathews in Bengaluru; Editing by Varun H K)By Eva Mathews \ No newline at end of file diff --git a/news/EBAY/2023.01.04/Exclusive-Nexus Venture eyes $700 million fund to bet on India, U.S. tech startups-sour...txt b/news/EBAY/2023.01.04/Exclusive-Nexus Venture eyes $700 million fund to bet on India, U.S. tech startups-sour...txt new file mode 100644 index 0000000000000000000000000000000000000000..0b0eba19cdcabd36222eaadcc92ed221b33e4b6f --- /dev/null +++ b/news/EBAY/2023.01.04/Exclusive-Nexus Venture eyes $700 million fund to bet on India, U.S. tech startups-sour...txt @@ -0,0 +1 @@ +The planned fund raising, which one of the sources said will close within two months, is an indication that investors may be starting to get more comfortable with Indian technology company valuations after the poor market performance in 2022 of some high-flying startups and amid a global tech sector rout.It would also expand the pool of funds available to startups, at a time when fundraising by Indian startups fell by a third last year to $24 billion, Venture Intelligence data showed.Founded in 2006, Nexus was one of the first Indian venture capital firms to invest in U.S. and India-based software startups. The new fund will be its seventh so far and take the firm's assets under management to more than $2 billion.Some of Nexus' existing investors include global pension funds, billionaire family offices and endowment funds. The new fund has received a strong response from endowments, one of the sources said, without sharing names of any specific investors.Nexus will invest the new funds - which will be the biggest raised in India after Sequoia's $2.85 billion fund in mid-2022 - in early stage funding rounds of Indian internet and technology startups, as well as U.S.-based software firms, the sources said. Nexus believes investing in U.S. software firms will help it hedge its bets and provide more stability than high-profile Indian startups which often burn billions of dollars in growth phase to achieve fast growth and attract users, they added.And Nexus is betting that India - where internet and mobile phone usage is rising rapidly - will remain a long-term, attractive bet for investors of its new fund, one of the sources said.Mumbai-based Nexus did not respond to a request for comment. The sources declined to be named as the discussions are private. Investors have turned cautious about lofty valuations amid a global tech rout - India's digital services companies Paytm and Zomato have plunged after making their market debuts in 2021.Nexus' current bets include Indian logistics firm Delhivery, online education firm Unacademy and U.S.-based software companies PubMatic Inc and Postman, all of which clocked multi-billion-dollar valuations in recent years.Nexus was co-founded by Naren Gupta who ran a software company in the United States for 15 years before selling it to Intel. Gupta, one of India's most renowned venture capitalists, died in 2021. Another co-founder, Sandeep Singhal, left the firm in 2021, while the third co-founder, former eBay India and PayPal executive Suvir Sujan, is one of the current managing directors. (Reporting by M. Sriram; Editing by Aditya Kalra and Muralikumar Anantharaman)By M. Sriram \ No newline at end of file diff --git a/news/EBAY/2023.01.26/Activist Elliott to nominate directors at Salesforce -sources.txt b/news/EBAY/2023.01.26/Activist Elliott to nominate directors at Salesforce -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..3400b0c3e4d52956eec75eec8e57445058649e6c --- /dev/null +++ b/news/EBAY/2023.01.26/Activist Elliott to nominate directors at Salesforce -sources.txt @@ -0,0 +1 @@ +Elliott, which invests more than $55 billion, is currently interviewing a number of people including technology industry executives and executives in other industries, the people said.The decision to prepare a slate of candidates who can be nominated between February 12 and March 14, could signal a change of direction at Elliott.Several days ago Jesse Cohn, managing partner at Elliott, said he was looking forward to working "constructively" with the company and that he has "developed a deep respect for Marc Benioff," Salesforce's co-founder and co-chief executive.Elliott has long invested in technology companies and in the past reached settlements for board seats with companies including Pinterest, Twitter and eBay.It is not clear what Elliott is pushing for at Salesforce.News that Elliott expects to nominate directors, first reported by the Wall Street Journal, came after Bloomberg reported Salesforce was considering refreshing its board, a step some companies take preemptively if activists start building holdings of their shares.At Salesforce there are at least four activist investors including Elliott, Starboard Value, Jeff Ubben's Inclusive Capital and ValueAct, the firm Ubben founded and which is now run by Mason Morfit, sources familiar with the matter said. Representatives for the firms either declined to comment or did not respond to requests for comment.Salesforce earlier this year announced plans to cut jobs by 10% and close some offices after rapid pandemic hiring left it with a bloated workforce.Starboard, which has held talks with the company, has called for better cost control but praised new executives including co-CEO Bret Taylor, who is leaving at the end of the month when Benioff will become the sole CEO. Investors have also pushed Salesforce to increase profits, buy back more shares, and raised some concerns about recent acquisitions. (Reporting by Svea Herbst-Bayliss; Editing by Lincoln Feast.)By Svea Herbst-Bayliss \ No newline at end of file diff --git a/news/EBAY/2023.01.26/Ebay : API Evolution Is a Challenge. Could Contract Testing Be the Solution?.txt b/news/EBAY/2023.01.26/Ebay : API Evolution Is a Challenge. Could Contract Testing Be the Solution?.txt new file mode 100644 index 0000000000000000000000000000000000000000..e430c917f70e51f3e5df28d50bdf2a15c8bc265c --- /dev/null +++ b/news/EBAY/2023.01.26/Ebay : API Evolution Is a Challenge. Could Contract Testing Be the Solution?.txt @@ -0,0 +1,23 @@ + +[Link] + + Figure 1: Consumer-driven contract testing workflow in Spring Cloud Contract + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +eBay Inc. published this content on 26 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2023 21:22:14 UTC. + + diff --git a/news/EBAY/2023.02.01/Marketmind: Lights, camera, action.txt b/news/EBAY/2023.02.01/Marketmind: Lights, camera, action.txt new file mode 100644 index 0000000000000000000000000000000000000000..2a223fd93754e6d2655544e4b870f4582c4d2b10 --- /dev/null +++ b/news/EBAY/2023.02.01/Marketmind: Lights, camera, action.txt @@ -0,0 +1 @@ +Global markets face their biggest test so far this year as the Federal Reserve appears poised to hint of an end to interest rate hikes at its meeting on Wednesday.Investors are pricing in a quarter-of-a-percentage-point increase in the Fed's benchmark interest rate, which would mark the smallest hike since U.S. central bankers kicked off their tightening cycle 10 months ago with one the same size.Still, there's an air of caution, with markets leaving little scope for any nasty surprises.In Europe, the region's central bank is expected to deliver 50-basis-point rate rises at each of its next two meetings, with the first one taking place on Thursday.But the forecasts still risk lagging behind policymakers' guidance on how high rates will go.The Bank of England is also expected to raise its interest rates by half a percentage point to 4% on Thursday.For today, European markets will focus on euro zone January flash PMI data, while results are due from Vodafone, GSK and Novartis.While the euro zone unexpectedly managed to avoid a recession in the fourth quarter, high energy costs, waning confidence and rising interest rates are expected to take a toll on the economy this year.Germany and Italy figured among the biggest euro zone countries that recorded negative growth rates for the quarter but France and Spain expanded.Surveys published on Wednesday showed Asia's factory activity contracted in January as the boost from China's COVID reopening had yet to offset headwinds from slowing U.S. and European growth, underscoring the fragility of the region's economic recovery.Asian stock markets held steady, supported by signs of a slowdown in U.S. wages that buoyed Wall Street overnight.Meanwhile, European Union banking regulators on Tuesday launched a stress test to check how banks could cope with a long period of high inflation and interest rates just as the European Central Bank is expected to raise borrowing costs further.Bayer came under pressure after a top-10 shareholder called on the group's supervisory board to replace CEO Werner Baumann quickly, in a move aimed at restoring investor trust and reviving the German drugmaker's sagging share price.Key developments that could influence markets on Wednesday: Economic data: Euro zone Jan flash PMIEurope results: Vodafone, GSK, Novartis, Banco BilbaoFed rate decision at 1900 GMT followed by news conference at 1930 GMTU.S. economic data: Jan ISMU.S. results: eBay (Reporting by Anshuman Daga; Editing by Jacqueline Wong) \ No newline at end of file diff --git a/news/EBAY/2023.02.07/Ebay to lay off 4% of global workforce.txt b/news/EBAY/2023.02.07/Ebay to lay off 4% of global workforce.txt new file mode 100644 index 0000000000000000000000000000000000000000..58766ada25bcf2cf5538a3d69901056b408ccb26 --- /dev/null +++ b/news/EBAY/2023.02.07/Ebay to lay off 4% of global workforce.txt @@ -0,0 +1 @@ +Ebay is planning to layoff approximately 500 employees over the next 24 hours, the company confirmed Tuesday.In a filing with the Securities and Exchange Commission, the California-based online marketplace blamed the current economic climate for the pending job cuts."Over the past few months, we've taken a thoughtful look at where we are as a company with considerations of the macroeconomic situation around the world and how to best invest and operate so that we can continue to be successful," the company said in the filing by CEO Jamie Iannone."To create long-term, sustainable growth for eBay, we need to evolve our organization as we take the next step in our strategy -- focused on driving growth, building a trusted marketplace, empowering enthusiasts and seeding new technologies for the future."The company did not specify where the affected employees are based, only saying that they are located globally."As a result of these considerations and our future-forward plans, I have some hard news to share. Over the next 24 hours, we'll be letting approximately 500 employees globally know that their jobs will be eliminated," Iannone wrote.The figure represents about 4% of the company's total employee base."Importantly, this shift gives us additional space to invest and create new roles in high-potential areas - new technologies, customer innovations and key markets -- and to continue to adapt and flex with the changing macro, e-commerce and technology landscape. We're also simplifying our structure to make decisions more effectively and with more speed," the company said in the filing.Copyright 2023 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News \ No newline at end of file diff --git a/news/EBAY/2023.02.07/Ebay to lay off 500 employees.txt b/news/EBAY/2023.02.07/Ebay to lay off 500 employees.txt new file mode 100644 index 0000000000000000000000000000000000000000..133c47b5e5eca5a83022a0a7faff2770b09836a1 --- /dev/null +++ b/news/EBAY/2023.02.07/Ebay to lay off 500 employees.txt @@ -0,0 +1 @@ +Shares of the San Jose, California-based company rose about 1% in aftermarket trade. "This shift gives us additional space to invest and create new roles in high-potential areas - new technologies, customer innovations and key markets," said Jamie Iannone, Chief Executive Officer of Ebay in a message to employees. A raft of U.S. companies from Goldman Sachs Group Inc to Alphabet Inc have laid off thousands this year to ride out a demand downturn wrought by high inflation and rising interest rates. (Reporting by Chavi Mehta and Shreyaa Narayanan in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/EBAY/2023.02.08/Powell lets it slide.txt b/news/EBAY/2023.02.08/Powell lets it slide.txt new file mode 100644 index 0000000000000000000000000000000000000000..e30b4137d6ba7f4b9e596a951b3b3a8b7482a272 --- /dev/null +++ b/news/EBAY/2023.02.08/Powell lets it slide.txt @@ -0,0 +1,40 @@ + +It sounded like a green light from an investor's perspective. Jerome Powell had the opportunity last night in a public speech to refine the message that the US central bank had sent in early February. And for the second time in a row, he refused to temper the optimism of the financial markets when he had the chance. +Wall Street had started in the same way. Before going in all directions according to Powell's statements. First violently up, then brutally down, then up again. Movements that my great skills in technical analysis allow me to describe as a reverse Totoro configuration, as you can see below. And, no, I'm not drunk, although using the Studio Ghibli character in technical analysis is quite personal. + +The famous figure of the Reverse Totoro +In the end, American investors felt that Jerome Powell's words supported their analysis of a Fed that will not go much further in its restrictive monetary policy. The central banker was a little more combative than the previous week on the uncertainties that persist and that could lead the institution to raise rates several times, but the market does not believe too much. And not only the stock market: the bond market did not really blink at the comments. As I explained yesterday, the financials had planned to be carried away by their current enthusiasm anyway, unless Powell was to be a VERY wet blanket. This was not the case. This explains why the Nasdaq 100 resumed its advance by gaining more than 2% and erasing most of the decline accumulated over the first two sessions of the week. The S&P500 followed suit, gaining 1.3%. On this day of "perfect nirvana" for the Buddhist tradition, as I could learn while browsing the internet this morning, the libido of investors is still flourishing. And their preferred scenario remains valid: the economy is not doing so bad, inflation continues to fall and the US central bank can end its monetary tightening cycle. This means easier access to financing in the months to come, economic momentum is picking up and equity markets are rising. That's for the smooth plan, the one written on paper. Reality often holds other surprises. +Meanwhile, companies continue to publish their results. There are still some heavy hitters, including Walt Disney, CVS Health, and Uber. The macroeconomic agenda sounds rather hollow on the other hand, even if the Indian central bank has given a small turn of monetary screw last night, by raising its main policy rate to 6.50%. +In other news, the human toll from the double earthquake in Turkey and Syria is increasing by the hour. Joe Biden gave his State of the Union address to the Senate last night. In the economic section, he attacked the big technology, health, and energy companies for their huge profits and their tax engineering. +  +Economic highlights of the day: +Short day with US wholesale inventories in December (10:00 am) and DOE oil inventories (10:30 am). All the agenda here. This morning, the Indian central bank raised its main policy rate by a quarter point to 6.5%. +  +The dollar is stabilizing at 0.9394 EUR and 0.8270 GBP. The ounce of gold is little changed at 1880 USD. Oil is recovering, with North Sea Brent crude at USD 84.30 per barrel and U.S. light crude WTI at USD 78.05. The yield on 10-year US debt is back up to 3.65%. Bitcoin is trading around 23,200 USD. + +In corporate news: +  + +* Uber unveiled an encouraging outlook for the current quarter and better-than-expected fourth-quarter results.  +  +* eBay plans to cut 500 positions to adapt to the changing economic climate and online retail industry. +  +* CVS Health reached an agreement to acquire the Oak Street Health clinic network for approximately $10.6 billion, including debt. +  +* Microsoft could harm innovation and competition in the UK video game market with the acquisition of Activision Blizzard + + +Analyst recommendations: + +Brunswick: D.A. Davidson maintained the recommendation at neutral. PT up to $92. +DuPont de Nemours: Wells Fargo Securities maintains overweight rating. Price target increases to $85 from $77. +Illumina: Stifel cut the target to $235 from $285. Maintains buy rating. +Microsoft: Mizuho Securities raised the target to $300 from $280. Maintains buy rating. +Old Dominion Freight Line: Raymond James maintains outperform rating. Price target up to $395 from $335. +Omnicom Group: Wells Fargo Securities raised the target and maintains overweight rating. PT up 20% to $109. +Shake Shack: Wedbush maintains neutral rating. PT up to $55 from $49. +TransDigm Group: Susquehanna Financial remains neutral. Price target up to $750 from $665. +Vertex Pharmaceuticals: HC Wainwright maintains buy rating. PT up to $326 from $300. +VF: Barclays raised the target to $31 from $28. Maintains equal-weight rating. +Werner Enterprises: Stifel raised the target to $54 from $48. Maintains buy rating. + diff --git a/news/EBAY/2023.02.13/EBay Acquires 3PM Shield to Bring Advanced Marketplace Compliance Technology In-House.txt b/news/EBAY/2023.02.13/EBay Acquires 3PM Shield to Bring Advanced Marketplace Compliance Technology In-House.txt new file mode 100644 index 0000000000000000000000000000000000000000..3eab2bbac7f3919f39845ee1a4ea61f781f1c880 --- /dev/null +++ b/news/EBAY/2023.02.13/EBay Acquires 3PM Shield to Bring Advanced Marketplace Compliance Technology In-House.txt @@ -0,0 +1,24 @@ + + +3PM Shield's monitoring technology will simplify policy compliance for sellers, and keep eBay a trusted marketplace +SAN JOSE, Calif., Feb. 13, 2023 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of sellers and buyers around the world, and 3PM Shield LLC, a provider of advanced AI-based marketplace compliance solutions, today announced that eBay has acquired 3PM Shield. + + + + + + + +This further enhances eBay's world-class monitoring solutions with new technologies designed to prevent the sale of counterfeit items, unsafe products and illegal goods. +Bringing 3PM Shield to eBay is part of eBay's ongoing commitment to provide sellers and buyers with a safe and trusted platform enabled by technology. 3PM Shield enhances eBay's ability to address suspicious or harmful seller behavior, and potentially problematic items. +"It is a top priority to help ensure that eBay remains a safe and trusted environment for our global community of sellers and buyers, particularly to prevent counterfeits and unsafe or illegal products," said Zhi Zhou, Chief Risk Officer at eBay. "3PM Shield has been a valued and effective external partner in helping eBay tackle these challenges and we look forward to unlocking additional capabilities as we bring their technologies in-house." +"3PM Shield was founded to provide next-generation eCommerce monitoring to protect trust in the buyer and seller relationship," said Robert Dunkel, founder and CEO, 3PM Shield. "We're proud to partner with eBay, and I am excited that eBay's investment will help us accelerate the impact of our cutting edge technology to combat counterfeits, unsafe products and illegal items." +Details on the TransactioneBay has acquired 3PM Shield LLC, also known as 3PM Solutions, and the deal has closed as of February 9, 2023. Further details were not disclosed. +About eBayeBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2021, eBay enabled over $87 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com. +Forward-Looking StatementsCertain statements herein are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Such forward-looking statements are often identified by words such as "anticipate," "approximate," "believe," "commit," "continue," "could," "estimate," "expect," "hope," "intend," "may," "outlook," "plan," "project," "potential," "should," "would," "will" and other similar words or expressions. Such forward-looking statements reflect eBay's current expectations or beliefs concerning future events and actual events may differ materially from historical results or current expectations. The reader is cautioned not to place undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of eBay. The forward-looking statements in this document address a variety of subjects including, for example, the potential benefits of the acquisition, including preventing listings of counterfeits, unsafe products and illegal items. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the possibility that eBay may not fully realize the projected benefits of the acquisition and business disruption following the transaction. In addition, actual results are subject to other risks and uncertainties that relate more broadly to eBay's overall business, including those more fully described in eBay's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal year ended December 31, 2021 and subsequent quarterly reports on Form 10-Q. The forward-looking statements in this document speak only as of this date. We undertake no obligation to revise or update publicly any forward-looking statement, except as required by law. + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/ebay-acquires-3pm-shield-to-bring-advanced-marketplace-compliance-technology-in-house-301744823.html +SOURCE eBay Inc. + + diff --git a/news/EBAY/2023.02.13/U.S. companies face more pain as expected 'earnings recession' looms.txt b/news/EBAY/2023.02.13/U.S. companies face more pain as expected 'earnings recession' looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..04e67df758fa79054ebaeed8b25cabfe30cdc980 --- /dev/null +++ b/news/EBAY/2023.02.13/U.S. companies face more pain as expected 'earnings recession' looms.txt @@ -0,0 +1 @@ +    Expectations for U.S. earnings to decline in the first and second quarter come amid weaker-than-expected fourth-quarter results for 2022, which Credit Suisse estimates will be the worst earnings season outside of a recession in 24 years.With fourth-quarter 2022 earnings estimated to have fallen from a year ago, a subsequent decline in the first quarter of 2023 would put the S&P 500 into a so-called earnings recession, a back-to-back decline in earnings that hasn't occurred since COVID-19 blasted corporate results in 2020.  Fourth-quarter results are in already from 344 of the S&P 500 companies, and the quarter's earnings are estimated at this point to have fallen 2.8% from the year-ago period, according to IBES data from Refinitiv. Most strategists expect little improvement for the season, and analysts now forecast S&P 500 earnings falling 3.7% year-over-year in the first quarter of 2023 and 3.1% for the second quarter."What's clear is the speed with which the 2023 numbers are falling is just worse than (usual)," said Jonathan Golub, chief U.S. equity strategist & head of quantitative research at Credit Suisse Securities in New York.The darkening earnings picture bolsters the case for investors who believe the stock market's early-year rally is unlikely to last, adding to worries over how high the Federal Reserve will need to take interest rates in its fight to keep inflation on an easing trajectory. The S&P 500 notched its biggest percentage weekly decline since mid-December last week, though the index is up about 7% for the year to date. "The reality for equities is that monetary policy remains in restrictive territory in the context of an earnings recession that has now begun in earnest," wrote analysts at Morgan Stanley, including Michael Wilson, the bank's U.S. equity strategist, in a Monday report.Recent results and guidance from some of the most heavily weighted names in the tech-related space like Alphabet, Amazon.com and Apple have been among the most memorable disappointments this earnings season.Golub and other strategists say a tight labor market that is pressuring margins for companies as a key reason for the decline in earnings, and expect these costs to remain stickier than other pressures.The recent blowout U.S. jobs report for January, which showed job growth accelerating and the lowest unemployment rate in 53 and a half years, has bolstered that view, while also stirring worries that strong job growth could lead to more rate increases from the Federal Reserve. The central bank last year embarked on its most aggressive policy tightening since the 1980s in response to soaring inflation. "If you look at revenues, they're coming in fine," Golub said. "So you say, well, then what's the problem? Margins are collapsing from really high levels." (Reporting by Caroline Valetkevitch; Editing by Ira Iosebashvili and Deepa Babington)By Caroline Valetkevitch \ No newline at end of file diff --git a/news/EBAY/2023.02.14/EBay Motors Launches New Purchase Protections for Auto Parts & Accessories.txt b/news/EBAY/2023.02.14/EBay Motors Launches New Purchase Protections for Auto Parts & Accessories.txt new file mode 100644 index 0000000000000000000000000000000000000000..4de06d03cde45fa5a105203b913ae0463ae7f5cf --- /dev/null +++ b/news/EBAY/2023.02.14/EBay Motors Launches New Purchase Protections for Auto Parts & Accessories.txt @@ -0,0 +1,33 @@ + + +With eBay Guaranteed Fit, shoppers can discover and purchase the right car, truck, and motorcycle parts to fit their vehicle – or their money back +SAN JOSE, Calif., Feb. 14, 2023 /PRNewswire/ -- Today, eBay Motors, the parts and accessories destination used by millions of car lovers, builders, restorers and mechanics, announces the launch of eBay Guaranteed Fit, a program that gives users even more confidence when buying and selling on the marketplace. Shoppers can now look for the green 'Fits' compatibility checkmark on select parts and accessories listings to gauge whether the part will fit their vehicle. If the part arrives and doesn't fit as expected, eBay Motors will cover the cost of the return and the buyer will receive a full refund – enabling more seamless and trusted transactions for both shoppers and sellers. + + + + + + + +"People are buying and selling parts online like never before, and eBay Guaranteed Fit helps take the guesswork out of the shopping experience," said Chris Prill, VP of eBay Motors. "Accurate fitment is critical to completing a project, from simple repairs to major modifications. With today's launch, eBay Motors is empowering shoppers to browse and buy the millions of parts and accessories on the marketplace with that crucial added assurance." +The launch of eBay Guaranteed Fit is the latest advancement designed to help people shop the marketplace with confidence and ease, including Authenticity Guarantee for sneakers, handbags, jewelry and trading cards, and the expansion of condition grading for eBay Refurbished. eBay Guaranteed Fit is an additional protection under the eBay Money Back Guarantee, and covers most new and pre-owned items in the Parts & Accessories category with more to be added in the coming months. +How It WorksFitment issues arise when a part or accessory is not compatible with the vehicle for which it was purchased. With three parts or accessories sold every second on the marketplace, the search tools and purchase protections now offered on eBay Motors are an important part of the shopping journey. With eBay Guaranteed Fit, buyers can rest assured knowing that they are getting the right part at the right price, while sellers benefit from fewer returns and higher customer satisfaction. Here's how it works: +Input vehicle details: Shoppers enter their vehicle year, make, model, trim and engine information into Finder, or select the vehicle saved in My Garage to search for new and used parts.Discover parts that fit: eBay Motors verifies that the vehicle details match the part compatibility information within the listing. When there is a match, fit is confirmed with a green 'Fits' checkmark on the listing.Purchase an eligible part or accessory: When shoppers purchase an eligible part or accessory, they can be sure it will fit their vehicle. Some exclusions apply, including tires and wheels.Access purchase protections: If the part or accessory does not fit the buyer's vehicle upon arrival, they can return it for free within 30 days for a full refund.Shop millions of auto parts and accessories at ebaymotors.com and learn about the program here. For more on the latest offerings, follow @ebaymotors on Instagram, YouTube and Facebook. +eBay Motors By the Numbers  +eBay Motors Parts & Accessories generate over $10B in annual GMVOne out of every three global eBay shoppers buys parts and accessoriesThree parts or accessories are purchased every second in the U.S.About eBayeBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2021, eBay enabled over $87 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com. + + + + + + + + + + + + + View original content to download multimedia:https://www.prnewswire.com/news-releases/ebay-motors-launches-new-purchase-protections-for-auto-parts--accessories-301745775.html +SOURCE eBay Inc. + + diff --git a/news/EBAY/2023.02.14/Ebay : Motors announces the eBay Guaranteed Fit Program.txt b/news/EBAY/2023.02.14/Ebay : Motors announces the eBay Guaranteed Fit Program.txt new file mode 100644 index 0000000000000000000000000000000000000000..4447d0cd91c16e95c9ed3332cf102368c6bb9a8b --- /dev/null +++ b/news/EBAY/2023.02.14/Ebay : Motors announces the eBay Guaranteed Fit Program.txt @@ -0,0 +1,58 @@ + + +Introducing eBay Guaranteed Fit by eBay Motors. Your car, truck, and motorcycle Parts & Accessorieslistings now have enhanced fitment functionality and returns protections for items that don't fit. An added "Fits your vehicle" checkmark will give buyers more confidence and trust that their purchases will fit their vehicles. + + +How it works + + +Now, when a buyer searches for a part or accessory using their vehicle details, we'll check their details against the fitment compatibility table in your listings and only show items that fit the buyer's vehicle details. If the buyer purchases an eligible part or accessory, indicated by a green "Fits your vehicle" checkmark in the listing, but the part doesn't fit, eBay will cover the return shipping costs. Exceptions apply. + + +eBay Guaranteed Fit benefits to sellers + + + +Fewer returns. As buyers learn to provide vehicle fitment details to return better item matches in their search results, the risk of potential returns due to incorrect fitment is reduced. + + +Free return label.In the unlikely event that a buyer needs to return an item because it doesn't fit, eBay will pay for return shipping. Exceptions apply. + + +Sales conversion. Enhanced buyer experience may help to generate more sales. + + + +Categories eligible for eBay Guaranteed Fit protections + + +Most items in the Car & Truck categoryand Motorcycle categoryare covered by the protections with the exception of tires and wheels. More categories will be added in the future. In order for items to be eligible, you must add compatibility information to your items that are listed in eligible categories. Learn more about parts compatibility listings. + + +Learn moreabout how to participate in the program and how these protections work. + + +As always, thank you for selling on eBay. + + +The eBay Motors Team + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +eBay Inc. published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 00:14:08 UTC. + + diff --git a/news/EBAY/2023.02.17/Retailers' results may be next test for rally in U.S. stocks.txt b/news/EBAY/2023.02.17/Retailers' results may be next test for rally in U.S. stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..0295d7dbf2e2431b1804f2536cfccc64e0353211 --- /dev/null +++ b/news/EBAY/2023.02.17/Retailers' results may be next test for rally in U.S. stocks.txt @@ -0,0 +1 @@ +As a tepid fourth-quarter results season comes to an end, Walmart and Home Depot are set to report in the coming week, with other high-profile retailers including Best Buy and Lowe's due the following week.How consumers are faring amid soaring prices will be a critical topic for investors, as some have become more confident that the economy will be able to avoid a severe downturn even as the Federal Reserve continues hiking rates to tamp down inflation.One sign of economic resilience came in the past week, when monthly data showed U.S. retail sales increased by the most in nearly two years in January. "The retail sales numbers were reasonably strong, and we want to see that confirmation come from the retailers themselves," said Paul Nolte, market strategist at Murphy and Sylvest Wealth Management. Nolte is considering buying home-improvement retailer stocks that were hit hard in 2022 as the housing market struggled.Stocks have run up despite underwhelming fourth-quarter earnings that has S&P 500 firms on track to post a 2.8% drop in profits from the year-ago period, according to Refintiv IBES. Other companies set to report next week include chip company Nvidia, COVID-19 vaccine maker Moderna and e-commerce firm eBay.The S&P 500 has gained 6.5% so far in 2023 as of Thursday, with stocks bouncing back from a brutal performance last year. Retail stocks have put up mixed returns so far in 2023. The SPDR S&P Retail ETF, which weights small and large companies fairly evenly, has jumped 17% this year. But the performance has been less rosy for some of the biggest companies.Shares of Walmart, the world's largest retailer by sales, have gained only 1.7% in 2023, while shares of Home Depot, the top U.S. home improvement chain, are also up 1.7%. Both companies are set to report on Tuesday and will "set the stage for everyone else," according to JPMorgan retail analysts."We expect HD and WMT's tone on guidance and the consumer to be cautious at best," the JPMorgan analysts wrote in an earnings preview note this week. They rate Walmart shares "neutral" and Home Depot as "overweight."GRAPHIC: U.S. retail stocks versus the market (https://www.reuters.com/graphics/USA-STOCKS/WEEKAHEAD/lbvggbkwxvq/chart.png)Among the other retailers set to report in the coming week are TJX Companies and Bath & Body Works.Peter Tuz, president of Chase Investment Counsel, said he will be watching to see if retailers have been able to push up prices to match their costs. His firm holds shares of a variety of retailers including discounter Dollar Tree and specialty retailers Crocs and Ulta Beauty, but does not own broad retailers like Walmart and Amazon."We are clearly emphasizing retailers in select industries versus the mass market retailers," Tuz said. "With the mass retailers, it's just harder to identify what is going to make them grow."Investors next week will also focus on Wednesday's release of minutes from the Fed's latest meeting, when the central bank scaled back its rate hikes to a quarter-point after a year of heftier raises.Since that meeting, data has shown U.S. consumer prices accelerating and monthly producer prices increasing by the most in seven months in January.Together with a strong U.S. jobs report, the data has led investors to push up expectations for how high the Fed will raise rates and how long they will stay elevated, with futures now pricing in a peak rate of over 5.2% in July.Extremely robust retailer earnings could fuel worries about a more hawkish response from the Fed, said Chuck Carlson, chief executive officer at Horizon Investment Services."If those numbers come in and are really, really, really strong, that could be this idea that too much good news is bad news from a Fed perspective," Carlson said. (Reporting by Lewis Krauskopf; Editing by Bill Berkrot)By Lewis Krauskopf \ No newline at end of file diff --git a/news/EBAY/2023.02.17/Salesforce, activist investor Elliott may soon reach deal - sources.txt b/news/EBAY/2023.02.17/Salesforce, activist investor Elliott may soon reach deal - sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..a61f3cd072269eccb6d9acbea7953d32b0cfb6e0 --- /dev/null +++ b/news/EBAY/2023.02.17/Salesforce, activist investor Elliott may soon reach deal - sources.txt @@ -0,0 +1,33 @@ +Feb 17 (Reuters) - Cloud-based software firm Salesforce +Inc and activist investor Elliott Management Corp are in +discussions to reach an agreement that may end a possible board +challenge, according to two people familiar with the matter.The battle at Salesforce has pitted Elliott as well as other +activist investors against Marc Benioff, one of Silicon Valley's +most iconic chief executives. Salesforce's growth has slowed +dramatically in recent quarters and last month the company said +it would cut 10% of jobs to address its performance.Activists, which also include Jeff Ubben's Inclusive Capital +Partners and Jeff Smith's Starboard Value, have been pushing for +Salesforce to increase growth and margins, buy back more shares, +and raised concerns about recent acquisitions.Elliott, which unveiled its stake in January and has been +engaging with the company for about a month, had searched for +director candidates laying the groundwork for a potential +challenge.A settlement could potentially bring the two sides together, +the sources said. But there is no indication on when an +agreement might be reached or what it might look like.Representatives for Salesforce and Elliott declined to +comment.Shares of the stock were down 2.4% in trading on Friday; +Salesforce has lost more than 20% of its value in the last 52 +weeks, trailing the S&P 500.The news of talks was first reported by CNBC.Earlier this year, Salesforce, which is valued at $168 +billion, said it planned to cut a tenth of jobs and close some +offices after rapid pandemic hiring left it with a bloated +workforce.The company also refreshed its board, adding the principal +of hedge fund ValueAct.ValueAct Capital's Mason Morfit will be joined by +Mastercard finance chief Sachin Mehra and former chief +executive of Carnival Corp Arnold Donald on the board.ValueAct has experience with companies like Salesforce after +Morfit served on the board of Microsoft, where the board set +cloud targets for management and tied them to a compensation +plan. ValueAct also had a board seat at Adobe.Elliott too has long invested in technology companies and in +the past reached settlements for board seats with companies +including Pinterest, Twitter and eBay. +(Reporting by Svea Herbst-Bayliss in New York; additional +reporting by Tiyashi Datta in Bengaluru; Editing by David +Gaffen, Shinjini Ganguli and Tomasz Janowski) \ No newline at end of file diff --git a/news/EBAY/2023.02.19/Asia shares creep higher, wary on Fed and BOJ outlooks.txt b/news/EBAY/2023.02.19/Asia shares creep higher, wary on Fed and BOJ outlooks.txt new file mode 100644 index 0000000000000000000000000000000000000000..8e1b89f80c58b5eba641255274134d54344b511a --- /dev/null +++ b/news/EBAY/2023.02.19/Asia shares creep higher, wary on Fed and BOJ outlooks.txt @@ -0,0 +1,57 @@ +*Asian stock markets : https://tmsnrt.rs/2zpUAr4*Nikkei flat, trading slow with U.S. on holiday*Mood cautious before Fed minutes, U.S. core inflation*Nervous wait for policy outlook from new BOJ chiefSYDNEY, Feb 20 (Reuters) - Asian shares edged up on +Monday as a U.S. holiday made for slow trading ahead of minutes +of the latest Federal Reserve meeting and a reading on core +inflation that could add to the risk of interest rates heading +higher for longer.Geopolitical tensions were ever present with North Korea +firing more missiles and talk of Russia ramping up attacks in +Ukraine before Friday's one-year anniversary of the invasion.There were reports the White House planned new sanctions on +Russia, while Secretary of State Antony Blinken on Saturday +warned Beijing of consequences should it provide material +support, including weapons, to Moscow.All of which made for a cautious start and MSCI's broadest +index of Asia-Pacific shares outside Japan +nudged up 0.7%, after sliding 2.2% last week.The bounce was led by Chinese blue chips which +firmed 1.1% as Beijing kept interest rates steady as expected, +having already poured liquidity into the banking system in +recent days.Japan's Nikkei was flat, as South Korea +added 0.3%. EUROSTOXX 50 futures and FTSE futures +both added 0.4%, extending last week's gains.S&P 500 futures barely budged, as did Nasdaq futures +. The S&P touched a two-week low on Friday as a run of +strong U.S. economic news suggested the Fed might have more to +do on interest rates even after hiking a huge 450 basis points +in 11 months."It's the most aggressive Fed tightening in decades and U.S. +retail sales are at all-time highs; unemployment at 43-year +lows; payrolls up over 500k in January and CPI/PPI inflation +reaccelerating," noted analysts at BofA. "That's a Fed mission +very much unaccomplished."They warned the failure of the S&P 500 to break resistance +at 4,200 could unleash a retreat to 3,800 by March 8.Markets have steadily lifted the expected peak for Fed funds +to 5.28%, while sharply scaling back rate cuts for later this +year and next.CORE PCE A RISKMinutes of the Fed's latest meeting due on Wednesday should +add colour on the deliberations, though they have been +superseded somewhat by barnstorming numbers on January payrolls +and retail sales.The latter means figures on U.S. personal consumption +expenditures (PCE) due this Friday are expected to show a 1.3% +jump in January, more than recovering from weakness in the prior +two months.The Fed's favoured inflation indicator, the core PCE index, +is seen rising 0.4%, the biggest gain in five months, while the +annual pace may have slowed just a fraction to 4.3%.Goldman Sachs is tipping a rise of 0.55% in the core, which +would sorely test the market's resilience.There are also at least five Fed presidents speaking this +week, to provide running commentary.Earnings season continues this week with major retailers +Walmart and Home Depot set to offer updates on +the health of the consumer.Other firms reporting include chip company Nvidia, +COVID-19 vaccine maker Moderna and e-commerce store +front eBay.The prospect of more Fed hikes has lifted Treasury yields +and generally supported the dollar, which hit a six-week top on +a basket of currencies last week.The euro was stuck at $1.0684, having touched a +six-week low of $1.0613 on Friday, while the dollar was just off +a two-month top on the yen at 134.20.Investors are anxiously awaiting Friday's testimony from the +newly nominated head of the Bank of Japan, and his thinking on +the future of yield curve control (YCC) and super-easy monetary +policy.Any hint of an early end to YCC could see yields spike +globally and send the yen surging, so analysts assume Kazuo Ueda +will be careful not to spook markets.Higher yields and a firmer dollar have not been good for +gold, which was holding at $1,843 an ounce and not far +from a five-week low of $1,807.Oil prices were trying to rally, after shedding around 4% +last week amid signs of ample supply and concerns over future +demand.Brent edged up 58 cents to $83.58 a barrel, while +U.S. crude rose 45 cents to $76.79.(Reporting by Wayne Cole; Editing by Shri Navaratnam and +Christian Schmollinger) \ No newline at end of file diff --git a/news/EBAY/2023.02.19/Asia shares muted by unease over Fed, BOJ policy.txt b/news/EBAY/2023.02.19/Asia shares muted by unease over Fed, BOJ policy.txt new file mode 100644 index 0000000000000000000000000000000000000000..21b2e5209cd5206ef685084a48623e258874ee3e --- /dev/null +++ b/news/EBAY/2023.02.19/Asia shares muted by unease over Fed, BOJ policy.txt @@ -0,0 +1 @@ +Geopolitical tensions were ever present with North Korea firing more missiles and talk of Russia ramping up attacks in Ukraine before Friday's one- year anniversary of the invasion.There were reports the White House planned new sanctions on Russia, while Secretary of State Antony Blinken on Saturday warned Beijing of consequences should it provide material support, including weapons, to Moscow.All of which made for a cautious start and MSCI's broadest index of Asia-Pacific shares outside Japan was largely flat, after sliding 2.2% last week. Japan's Nikkei dipped 0.2% and South Korea 0.4%.S&P 500 futures eased 0.2%, while Nasdaq futures lost 0.3%. The S&P touched a two-week low on Friday as a run of strong U.S. economic news suggested the Fed might have more to do on interest rates even after hiking a huge 450 basis points in 11 months."It's the most aggressive Fed tightening in decades and U.S. retail sales are at all-time highs; unemployment at 43-year lows; payrolls up over 500k in January and CPI/PPI inflation reaccelerating," noted analysts at BofA. "That's a Fed mission very much unaccomplished."They warned the repeated failure of the S&P 500 to break resistance at 4,200, could unleash a retreat to 3,800 by March 8.Markets have steadily lifted the expected peak for Fed funds to 5.28%, while sharply scaling back rate cuts for later this year and next.Minutes of the Fed's last meeting due on Wednesday should add colour on the deliberations, though they have been superseded somewhat by barnstorming numbers on January payrolls and retail sales.The latter means figures on U.S. personal consumption expenditures (PCE) due this Friday are expected to show a 1.3% jump in January, more than recovering from weakness in the prior two months.The Fed's favoured inflation indicators, the core PCE index, is seen rising 0.4%, the biggest gain in five months, while the annual pace may have slowed just a fraction to 4.3%.There are also at least five Fed presidents speaking this week, to provide running commentary.Earnings season continues this week with major retailers Walmart and Home Depot set to offer updates on the health of the consumer.Other companies reporting include chip company Nvidia, COVID-19 vaccine maker Moderna and e-commerce store front eBay.The prospect of more Fed hikes has lifted Treasury yields and generally supported the dollar, which hit a six-week top on a basket of currencies last week.The euro was stuck at $1.0676, having touched a six-week low of $1.0613 on Friday, while the dollar was just off a two-month top on the yen at 134.34.Investors are anxiously awaiting Friday's testimony from the newly nominated head of the Bank of Japan, and his thinking on the future of yield curve control (YCC) and super-easy policy.Any hint of an early end to YCC could see yields spike globally and send the yen surging, so analysts assume Kazuo Ueda will be careful not to spook markets.Higher yields and a firmer dollar have not been good for gold, which was struggling at $1,837 an ounce and not far from a five-week low of $1,807. [GOL/]Oil prices were trying to steady after shedding around 4% last week amid signs of ample supply and concerns over future demand. [O/R]Brent edged up 14 cents to $83.14 a barrel, while U.S. crude rose 15 cents to $76.49. (Reporting by Wayne Cole; Editing by Shri Navaratnam)By Wayne Cole \ No newline at end of file diff --git a/news/EBAY/2023.02.19/Wall St Week Ahead-Retailers' results may be next test for rally in U.S. stocks.txt b/news/EBAY/2023.02.19/Wall St Week Ahead-Retailers' results may be next test for rally in U.S. stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..d4be7dbbae3d6a68109b6f8c3833e5b02e81f0a4 --- /dev/null +++ b/news/EBAY/2023.02.19/Wall St Week Ahead-Retailers' results may be next test for rally in U.S. stocks.txt @@ -0,0 +1,58 @@ +NEW YORK, Feb 17 (Reuters) - Earnings results from major +retailers in the coming weeks will test the strength of the U.S. +stock market rally, as investors gain insight into the health of +consumer spending and the fallout on company bottom lines from +inflation.As a tepid fourth-quarter results season comes to an end, +Walmart and Home Depot are set to report in the +coming week, with other high-profile retailers including Best +Buy and Lowe's due the following week. +How consumers are faring amid soaring prices will be a +critical topic for investors, as some have become more confident +that the economy will be able to avoid a severe downturn even as +the Federal Reserve continues hiking rates to tamp down +inflation.One sign of economic resilience came in the past week, when +monthly data showed U.S. retail sales increased by the most in +nearly two years in January.“The retail sales numbers were reasonably strong, and we +want to see that confirmation come from the retailers +themselves,” said Paul Nolte, market strategist at Murphy and +Sylvest Wealth Management.Nolte is considering buying home-improvement retailer stocks +that were hit hard in 2022 as the housing market struggled.Stocks have run up despite underwhelming fourth-quarter +earnings that has S&P 500 firms on track to post a 2.8% drop in +profits from the year-ago period, according to Refintiv IBES. +Other companies set to report next week include chip company +Nvidia, COVID-19 vaccine maker Moderna and +e-commerce firm eBay.The S&P 500 has gained 6.5% so far in 2023 as of Thursday, +with stocks bouncing back from a brutal performance last year.Retail stocks have put up mixed returns so far in 2023. The +SPDR S&P Retail ETF, which weights small and large +companies fairly evenly, has jumped 17% this year. But the +performance has been less rosy for some of the biggest +companies.Shares of Walmart, the world's largest retailer by sales, +have gained only 1.7% in 2023, while shares of Home Depot, the +top U.S. home improvement chain, are also up 1.7%. Both +companies are set to report on Tuesday and will "set the stage +for everyone else," according to JPMorgan retail analysts."We expect HD and WMT’s tone on guidance and the consumer to +be cautious at best," the JPMorgan analysts wrote in an earnings +preview note this week. They rate Walmart shares "neutral" and +Home Depot as "overweight."Among the other retailers set to report in the coming week +are TJX Companies and Bath & Body Works.Peter Tuz, president of Chase Investment Counsel, said he +will be watching to see if retailers have been able to push up +prices to match their costs.His firm holds shares of a variety of retailers including +discounter Dollar Tree and specialty retailers Crocs +and Ulta Beauty, but does not own broad +retailers like Walmart and Amazon."We are clearly emphasizing retailers in select industries +versus the mass market retailers," Tuz said. "With the mass +retailers, it’s just harder to identify what is going to make +them grow.”Investors next week will also focus on Wednesday's release +of minutes from the Fed's latest meeting, when the central bank +scaled back its rate hikes to a quarter-point after a year of +heftier raises.Since that meeting, data has shown U.S. consumer prices +accelerating and monthly producer prices increasing by the most +in seven months in January.Together with a strong U.S. jobs report, the data has led +investors to push up expectations for how high the Fed will +raise rates and how long they will stay elevated, with futures +now pricing in a peak rate of over 5.2% in July.Extremely robust retailer earnings could fuel worries about +a more hawkish response from the Fed, said Chuck Carlson, chief +executive officer at Horizon Investment Services."If those numbers come in and are really, really, really +strong, that could be this idea that too much good news is bad +news from a Fed perspective,” Carlson said.(Reporting by Lewis Krauskopf +Editing by Bill Berkrot) \ No newline at end of file diff --git a/news/EBAY/2023.02.22/EBay forecasts first-quarter revenue above estimates.txt b/news/EBAY/2023.02.22/EBay forecasts first-quarter revenue above estimates.txt new file mode 100644 index 0000000000000000000000000000000000000000..c2bd6b259f64bf6d47e5fe5ae229878811a04306 --- /dev/null +++ b/news/EBAY/2023.02.22/EBay forecasts first-quarter revenue above estimates.txt @@ -0,0 +1 @@ +The company forecast first-quarter revenue between $2.46 billion and $2.50 billion. Analysts are expecting $2.37 billion, according to Refinitiv IBES data. (Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git "a/news/EBAY/2023.02.22/Ebay : Balance Sheet \342\200\223 Historical.txt" "b/news/EBAY/2023.02.22/Ebay : Balance Sheet \342\200\223 Historical.txt" new file mode 100644 index 0000000000000000000000000000000000000000..811e9c28de1425e8e132c78c672a9c114d444087 --- /dev/null +++ "b/news/EBAY/2023.02.22/Ebay : Balance Sheet \342\200\223 Historical.txt" @@ -0,0 +1,2869 @@ + + + + eBay Inc. + + + Unaudited Condensed Consolidated Balance Sheet + + + (U.S. Dollars In Millions) + + + + + + + + + + Dec 31, + + + + + + + + + Sep 30, + + + + + + + + + Jun 30, + + + + + + + + + Mar 31, + + + + + + + + + Dec 31, + + + + + + + + + Sep 30, + + + + + + + + + Jun 30, + + + + + + + + + Mar 31, + + + + + + + + + + + 2020 + + + + + + + + + 2020 + + + + + + + + + 2020 + + + + + + + + + 2020 + + + + + + + + + 2019 + + + + + + + + + 2019 + + + + + + + + + 2019 + + + + + + + + + 2019 + + + + + + + ASSETS + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Current assets: + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Cash and cash equivalents + + + + + $ + + + + + 1,101 + + + + + $ + + + + + 691 + + + + + $ + + + + + 836 + + + + + $ + + + + + 682 + + + + + $ + + + + + 644 + + + + + $ + + + + + 628 + + + + + $ + + + + + 721 + + + + + $ + + + + + 858 + + + + + + + Short-term investments + + + + + + + 2,392 + + + + + + + + + 2,691 + + + + + + + + + 4,291 + + + + + + + + + 3,544 + + + + + + + + + 1,844 + + + + + + + + + 2,184 + + + + + + + + + 2,964 + + + + + + + + + 2,740 + + + + + + + Equity investment in Adevinta + + + + + + + - 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Buyers may register more than once, and as a result, may have more than one account. + + +On June 20, 2022 we announced the closure of our marketplace business in Turkey, GittiGidiyor. + + +Gross Merchandise Volume (GMV) consists of the total value of all paid transactions between users on our platforms during the applicable period inclusive of shipping fees and taxes. + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +eBay Inc. published this content on 22 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2023 21:18:07 UTC. + + diff --git "a/news/EBAY/2023.02.22/Ebay : Metrics \342\200\223 Q4 2022.txt" "b/news/EBAY/2023.02.22/Ebay : Metrics \342\200\223 Q4 2022.txt" new file mode 100644 index 0000000000000000000000000000000000000000..889f16b1191fc2b31cb853c46991c3884b03cd43 --- /dev/null +++ "b/news/EBAY/2023.02.22/Ebay : Metrics \342\200\223 Q4 2022.txt" @@ -0,0 +1,1139 @@ + + + + eBay Inc. + + + Unaudited Supplemental Operating Data + + + (In Millions, Except Percentages) + + + + + + + + + + + + + + + + + + + + + + + + + + + + Three Months Ended + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Dec 31, + + + + + + + + + Sep 30, + + + + + + + + + Jun 30, + + + + + + + + + Mar 31, + + + + + + + + + Dec 31, + + + + + + + + + Sep 30, + + + + + + + + + Jun 30, + + + + + + + + + Mar 31, + + + + + + + + + + + 2022 + + + + + + + + + 2022 + + + + + + + + + 2022 + + + + + + + + + 2022 + + + + + + + + + 2021 + + + + + + + + + 2021 + + + + + + + + + 2021 + + + + + + + + + 2021 + + + + + + + Active Buyers (1) + + + + + + + 134 + + + + + + + + + 135 + + + + + + + + + 138 + + + + + + + + + 142 + + + + + + + + + 147 + + + + + + + + + 152 + + + + + + + + + 156 + + + + + + + + + 163 + + + + + + + Current quarter vs prior year quarter + + + + + + + (9)% + + + + + + + + + (11)% + + + + + + + + + (12)% + + + + + + + + + (13)% + + + + + + + + + (9)% + + + + + + + + + (5)% + + + + + + + + + (2)% + + + + + + + + + 8 % + + + + + + + Active buyers ex. GittiGidiyor and TCGplayer (2) + + + + + + + 132 + + + + + + + + + 133 + + + + + + + + + 135 + + + + + + + + + 138 + + + + + + + + + 143 + + + + + + + + + 148 + + + + + + + + + 151 + + + + + + + + + 158 + + + + + + + Current quarter vs prior year quarter + + + + + + + (8)% + + + + + + + + + (10)% + + + + + + + + + (11)% + + + + + + + + + (12)% + + + + + + + + + (8)% + + + + + + + + + (4)% + + + + + + + + + (1)% + + + + + + + + + 8 % + + + + + + + Gross Merchandise Volume (3) + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + U.S. + + + + + $ + + + + + 8,894 + + + + + $ + + + + + 8,699 + + + + + $ + + + + + 8,982 + + + + + $ + + + + + 9,335 + + + + + $ + + + + + 9,724 + + + + + $ + + + + + 9,312 + + + + + $ + + + + + 10,332 + + + + + $ + + + + + 10,813 + + + + + + + Current quarter vs prior year quarter + + + + + + + (9)% + + + + + + + + + (7)% + + + + + + + + + (13)% + + + + + + + + + (14)% + + + + + + + + + (2)% + + + + + + + + + (8)% + + + + + + + + + (6)% + + + + + + + + + 36 % + + + + + + + International + + + + + $ + + + + + 9,333 + + + + + $ + + + + + 9,016 + + + + + $ + + + + + 9,567 + + + + + $ + + + + + 10,074 + + + + + $ + + + + + 11,002 + + + + + $ + + + + + 10,613 + + + + + $ + + + + + 12,255 + + + + + $ + + + + + 13,314 + + + + + + + Current quarter vs prior year quarter + + + + + + + (15)% + + + + + + + + + (15)% + + + + + + + + + (22)% + + + + + + + + + (24)% + + + + + + + + + (16)% + + + + + + + + + (11)% + + + + + + + + + (7)% + + + + + + + + + 31 % + + + + + + + Total Gross Merchandise Volume + + + + + $ + + + + + 18,227 + + + + + $ + + + + + 17,715 + + + + + $ + + + + + 18,549 + + + + + $ + + + + + 19,409 + + + + + $ + + + + + 20,726 + + + + + $ + + + + + 19,925 + + + + + $ + + + + + 22,587 + + + + + $ + + + + + 24,127 + + + + + + + Current quarter vs prior year quarter + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + (12)% + + + + + + + + + (11)% + + + + + + + + + (18)% + + + + + + + + + (20)% + + + + + + + + + (10)% + + + + + + + + + (10)% + + + + + + + + + (7)% + + + + + + + + + 33 % + + + + + + +All buyers who paid for a transaction on our platforms within the previous 12-month period. Buyers may register more than once, and as a result, may have more than one account. + + +On June 20, 2022 we announced the closure of our marketplace business in Turkey, GittiGidiyor. On October 31, 2022, we completed the acquisition of TCGplayer. + + +Gross Merchandise Volume (GMV) consists of the total value of all paid transactions between users on our platforms during the applicable period inclusive of shipping fees and taxes. + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +eBay Inc. published this content on 22 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2023 21:18:07 UTC. + + diff --git "a/news/EBAY/2023.02.22/Ebay : Revenue \342\200\223 Historical.txt" "b/news/EBAY/2023.02.22/Ebay : Revenue \342\200\223 Historical.txt" new file mode 100644 index 0000000000000000000000000000000000000000..3382326178f455ab753626269fe0ff563b646e3f --- /dev/null +++ "b/news/EBAY/2023.02.22/Ebay : Revenue \342\200\223 Historical.txt" @@ -0,0 +1,672 @@ + + + + eBay Inc. + + + Unaudited Summary of Consolidated Net Revenues by Type + + + (U.S. Dollars In Millions, Except Percentages) + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Three Months Ended + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Dec 31, + + + + + + + + + Sep 30, + + + + + + + + + Jun 30, + + + + + + + + + Mar 31, + + + + + + + + + Dec 31, + + + + + + + + + Sep 30, + + + + + + + + + Jun 30, + + + + + + + + + Mar 31, + + + + + + + + + + + + + 2020 + + + + + + + + + 2020 + + + + + + + + + 2020 + + + + + + + + + 2020 + + + + + + + + + 2019 + + + + + + + + + 2019 + + + + + + + + + 2019 + + + + + + + + + 2019 + + + + + + + Total net revenues (1)(2)(3) + + + + + $ + + + + + 2,478 + + + + + $ + + + + + 2,258 + + + + + $ + + + + + 2,337 + + + + + $ + + + + + 1,821 + + + + + $ + + + + + 1,904 + + + + + $ + + + + + 1,799 + + + + + $ + + + + + 1,859 + + + + + $ + + + + + 1,867 + + + + + + + + + Current period vs prior year period + + + + + + + 30 % + + + + + + + + + 26 % + + + + + + + + + 26 % + + + + + + + + + (2)% + + + + + + + + + ** + + + + + + + + + ** + + + + + + + + + ** + + + + + + + + + ** + + + + + + + + + Percent from international + + + + + + + 53 % + + + + + + + + + 52 % + + + + + + + + + 54 % + + + + + + + + + 55 % + + + + + + + + + 56 % + + + + + + + + + 55 % + + + + + + + + + 56 % + + + + + + + + + 55 % + + + + + + + (1) + + + + + Hedge gain/(loss) + + + + + $ + + + + + (8) + + + + + $ + + + + + 6 + + + + + $ + + + + + 17 + + + + + $ + + + + + - + + + + + $ + + + + + 29 + + + + + $ + + + + + 19 + + + + + $ + + + + + 13 + + + + + $ + + + + + 20 + + + + + + + (2) + + + + + Foreign currency impact + + + + + $ + + + + + 32 + + + + + $ + + + + + 33 + + + + + $ + + + + + (23) + + + + + $ + + + + + (16) + + + + + $ + + + + + 10 + + + + + $ + + + + + (16) + + + + + $ + + + + + (44) + + + + + $ + + + + + (35) + + + + + + +Beginning in the fourth quarter of 2022, we present revenues generated from our Marketplace GMV and from non-GMV based businesses as "Net revenues" in order to more closely align our presentation of net revenues with how our business is operated. We formerly presented such amounts as "Net transaction revenues" and "Marketing services and other (MS&O) revenues," and those line items for such prior periods have been conformed to current period presentation. Consolidated net revenues are unchanged. + + + + +Growth rates for the period excluded as 2018 revenue numbers have not yet been re-casted and provided. + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +eBay Inc. published this content on 22 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2023 21:18:07 UTC. + + diff --git "a/news/EBAY/2023.02.22/Ebay : Revenue \342\200\223 Q4 2022.txt" "b/news/EBAY/2023.02.22/Ebay : Revenue \342\200\223 Q4 2022.txt" new file mode 100644 index 0000000000000000000000000000000000000000..989afdfd128866630eada306f3d420e22defcc62 --- /dev/null +++ "b/news/EBAY/2023.02.22/Ebay : Revenue \342\200\223 Q4 2022.txt" @@ -0,0 +1,911 @@ + + + + eBay Inc. + + + Unaudited Summary of Consolidated Net Revenues by Type + + + (U.S. Dollars In Millions, Except Percentages) + + + + + + + + + + + + + + + + + + + + + + + + + + + + Three Months Ended + + + + + + + + + + + + + + + + + + + + + + + + + + + Year Ended + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + December 31, + + + + + + + + + + + + + Dec 31, + + + + + + + + + Sep 30, + + + + + + + + + Jun 30, + + + + + + + + + Mar 31, + + + + + + + + + Dec 31, + + + + + + + + + Sep 30, + + + + + + + + + Jun 30, + + + + + + + + + Mar 31, + + + + + + + + + 2022 + + + + + + + + + 2021 + + + + + + + + + + + + + 2022 + + + + + + + + + 2022 + + + + + + + + + 2022 + + + + + + + + + 2022 + + + + + + + + + 2021 + + + + + + + + + 2021 + + + + + + + + + 2021 + + + + + + + + + 2021 + + + + + + + + + + + + + + + Total net revenues (1)(2)(3) + + + + + $ + + + + + 2,510 + + + + + $ + + + + + 2,380 + + + + + $ + + + + + 2,422 + + + + + $ + + + + + 2,483 + + + + + $ + + + + + 2,613 + + + + + $ + + + + + 2,501 + + + + + $ + + + + + 2,668 + + + + + $ + + + + + 2,638 + + + + + $ + + + + + 9,795 + + + + + $ + + + + + 10,420 + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Current period vs prior year period + + + + + + + (4)% + + + + + + + + + (5)% + + + + + + + + + (9)% + + + + + + + + + (6)% + + + + + + + + + 5 % + + + + + + + + + 11 % + + + + + + + + + 14 % + + + + + + + + + 45 % + + + + + + + + + (6)% + + + + + + + + + 17 % + + + + + + + + + Percent from international + + + + + + + 51 % + + + + + + + + + 50 % + + + + + + + + + 51 % + + + + + + + + + 51 % + + + + + + + + + 52 % + + + + + + + + + 52 % + + + + + + + + + 51 % + + + + + + + + + 51 % + + + + + + + + + 51 % + + + + + + + + + 52 % + + + + + + + (1) + + + + + Hedge gain/(loss) + + + + + $ + + + + + 89 + + + + + $ + + + + + 36 + + + + + $ + + + + + 9 + + + + + $ + + + + + 6 + + + + + $ + + + + + - + + + + + $ + + + + + (19) + + + + + $ + + + + + (18) + + + + + $ + + + + + (28) + + + + + $ + + + + + 140 + + + + + $ + + + + + (65) + + + + + + + (2) + + + + + Foreign currency impact + + + + + $ + + + + + (67) + + + + + $ + + + + + (100) + + + + + $ + + + + + (95) + + + + + $ + + + + + (58) + + + + + $ + + + + + 7 + + + + + $ + + + + + 32 + + + + + $ + + + + + 95 + + + + + $ + + + + + 54 + + + + + $ + + + + + (320) + + + + + $ + + + + + 188 + + + + + + +Beginning in the fourth quarter of 2022, we present revenues generated from our Marketplace GMV and from non-GMV based businesses as "Net revenues" in order to more closely align our presentation of net revenues with how our business is operated. We formerly presented such amounts as "Net transaction revenues" and "Marketing services and other (MS&O) revenues," and those line items for such prior periods have been conformed to current period presentation. Consolidated net revenues are unchanged. + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +eBay Inc. published this content on 22 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2023 21:08:06 UTC. + + diff --git a/news/EBAY/2023.02.22/Global markets live: Rio Tinto, Palo Alto, Tesla, Shell, KKR....txt b/news/EBAY/2023.02.22/Global markets live: Rio Tinto, Palo Alto, Tesla, Shell, KKR....txt new file mode 100644 index 0000000000000000000000000000000000000000..fd3960662af44b91d0149266ba44e69d5663de66 --- /dev/null +++ b/news/EBAY/2023.02.22/Global markets live: Rio Tinto, Palo Alto, Tesla, Shell, KKR....txt @@ -0,0 +1,32 @@ + +  +  +Corporate results: + +BE Semiconductor: the group expects a change between 0 and -10% of its activity in fiscal Q1. +Fresenius: 2023 results are expected to decline. +Iberdrola: expects net profit to rise 8-10% in 2023, before Spanish windfall tax. +Lloyds: profit for 2022 declined. +Rio Tinto: 2022 profit fell 38% and is below expectations. Dividend reduced to USD 4.92 per share. +Siegfried: closes 2022 on higher earnings but below AWP forecasts. +UCB: results are down in 2022. Revenue is expected to decline again this year, with an expected Ebitda margin of 22.5-23.5%. +Palo Alto raised its full-year profit forecast as demand for cybersecurity products remains strong. + +  +In other news: + +Fresenius will give up control of Fresenius Medical Care, changing its legal form from a limited partnership (KGaA) to a joint stock company. +Brookfield consortium reduces its offer for Origin Energy to AUD 8.90 per share. +Tesla will move some EV battery production from Germany to the U.S., taking advantage of benefits offered by Washington. +Chesapeake will sell its shale oil assets to chemical maker Ineos for $1.4 billion, according to the Wall Street Journal. +Shell is exploring options for its European retail gas and power unit, Bloomberg reported. +BYD is launching in Germany. +Givaudan is buying a cosmetic ingredients portfolio from Amyris. +AMC shareholders is suing the company for voting to issue new shares. +Steven F. Mayer resigned as executive chairman of Spanish pharmaceutical company Grifols, citing health and other personal reasons. +KKR extended its non-binding offer for Telecom Italia's fixed-line network by four weeks to March 24, following a government request. +Philips will not pay bonuses to its executives for 2022, after a poor year. +Baidu jumped 7.8% in pre-market trading on Wall Street after the Chinese internet search engine reported better-than-expected fourth-quarter revenue and announced a share buyback plan of up to $5 billion. +Coinbase Global fell 1% in pre-market trading as the cryptocurrency exchange platform reported a fourth-quarter net loss of $557 million on Tuesday, compared with a profit of $840 million a year earlier. + +Top earnings reports today: Nvidia, Rio Tinto, Iberdrola, Pioneer Natural Resources, Stellantis, Baidu, Lloyds, Danone, Genmab, eBay, Aena, Wolters Kluwer... All the agenda is here.  diff --git a/news/EBAY/2023.02.22/Here we go again.txt b/news/EBAY/2023.02.22/Here we go again.txt new file mode 100644 index 0000000000000000000000000000000000000000..cd98ea7e149754dd45e7799c786090cd4cff0057 --- /dev/null +++ b/news/EBAY/2023.02.22/Here we go again.txt @@ -0,0 +1,31 @@ + +The return to work after the long weekend was a bit brutal yesterday on Wall Street, with a drop of 2% for the S&P500, -2.06% for the Dow Jones and -2.4% for the Nasdaq 100. Only the most defensive segments of the market held up. In finance, the companies perceived as the most defensive are those that will continue to sell commodities when consumers have cut the superfluous. Specifically, yesterday, food, gas and beer sellers. Add to this weapon manufacturers, after the further deterioration of relations between the West and Russia, after Vladimir Putin's decision to suspend a nuclear weapon control treaty. + +The lack of appetite for risk assets prolongs a phase of doubt that has been building over the past week. The powerful rebound following the annus horribilis 2022 was based on two pillars: the recovery of the Chinese economy and the proximity of the end of the Fed's rate hike cycle. At the moment, the Chinese reopening has not delivered its promises, while the Fed's supposed victory over inflation doesn't look so clear anymore. This victory was personalized by the decline in price increases and several macroeconomic indicators showing that the economic overheating was cooling. The problem is that these indicators have tended to stabilize, or even accelerate for some in recent days. As a result, the big bet that investors would return to a looser monetary policy is now fading. Yesterday, the US PMI indicators were quite clearly above expectations, a further signal of caution for the market, on the grounds that good news for the economy is not necessarily good news for finance, which prefers low rates to any other scenario. +The yield on US 10-year debt jumped to 3.94% yesterday, whereas it was 50 points lower not so long ago. This means that the market expects the Fed Funds rate to rise to more than 5.3% this summer, whereas the expectation was still 4.9% at the beginning of February. Investors now believe the Fed will raise rates beyond what they feared and the debate is still open about how long the rates will stay high. That's not good news for stocks. Nor for bonds, some of which have lost almost all of their 2023 gains (bond prices move inversely to their yield). +Today, earnings releases continue with some big names like Nvidia, Pioneer Natural Resources and eBay. Investors are trading cautiously this morning ahead the publication of the minutes of the last Fed meeting (3:00 pm), and Wall Street's three main indices are flat. In other news, the yield on Japanese public debt has settled for the second day above the theoretical ceiling set by the Bank of Japan. Washington is threatening to sanction Chinese companies that support Russia's invasion of Ukraine and oil is contracting in a market that doubts the global economic momentum ahead. +  +Economic highlights of the day: +The Fed will release the minutes of its last meeting at 3pm. All the agenda is here. Hong Kong's GDP contracted by 3.5% in 2002, while the city is aiming for growth between 3.5 and 5.5% this year. +The dollar is up 0.2% to EUR 0.9408 and GBP 0.8275. The ounce of gold is worth USD 1,835. Oil is chipping away, with North Sea Brent at USD 82.18 per barrel and U.S. WTI light crude at USD 75.70. The yield on 10-year US debt rises sharply 3.94%. Bitcoin is down to USD 24100. +  +In corporate news: +* Tesla has begun assembling battery systems at its German plant, but most of the production will be concentrated at U.S. sites where the automaker receives subsidies under the U.S. Inflation Reduction Act (IRA), a group spokesman said Wednesday. +* KKR has extended its non-binding offer for Telecom Italia's (TIM) fixed-line network by four weeks to March 24, TIM said late Tuesday. +* Baidu jumped 7.8% in pre-market trading on Wall Street after the Chinese internet search engine reported better-than-expected fourth-quarter revenue and announced a share buyback plan of up to $5 billion. +* Coinbase Global falls 1% in pre-market trading as the cryptocurrency exchange platform reported a fourth-quarter net loss of $557 million on Tuesday, compared with a profit of $840 million a year earlier. +* Palo Alto climbs 9% in pre-market trading after the telecommunications equipment specialist raised its full-year profit forecast as demand for cybersecurity products remains strong. +* Chesapeake Energy sold assets in South Texas for $1.4 billion to chemical company Ineos, which will enter the oil and gas business for the first time in the U.S. +* AMC Entertainment Holdings - Shareholders of the movie chain filed a lawsuit in Delaware in connection with an allegedly unsolicited issuance of new shares. +* Nvidia and eBay are scheduled to report quarterly results after the close on Wall Street. +  +Analyst recommendations: +Autonation: Guggenheim Securities raised the target to $181 from $169. Maintains buy rating. +Comcast: KGI Securities downgrades to neutral from outperform. PT up 8.4% to $41. +Dillard's: J.P. Morgan downgrades to underweight from neutral. PT down 20% to $286. +Home Depot: D.A. Davidson & Co cut the target to $306 from $334. Maintains neutral rating. +InterContinental Hotels: Deutsche Bank downgrades to hold from buy and increases the price target to 58.50 pounds sterling from 57.30 pounds. +Manhattan Associates: D.A. Davidson & Co initiated coverage with a recommendation of neutral. PT set to $145. +Martin Marietta: On Field Investment Research upgrades to neutral from underperform. PT up 21% to $436. +Nordson: KeyBanc Capital Markets upgrades to overweight from sector weight. PT up 20% to $255. +Vulcan Materials: On Field Investment Research upgrades to neutral from underperform. PT up 33% to $241. diff --git a/news/EBAY/2023.02.22/Market Mind: Not if or when but how fast?.txt b/news/EBAY/2023.02.22/Market Mind: Not if or when but how fast?.txt new file mode 100644 index 0000000000000000000000000000000000000000..72322c8a620456c80c554f1cb721089de304110f --- /dev/null +++ b/news/EBAY/2023.02.22/Market Mind: Not if or when but how fast?.txt @@ -0,0 +1 @@ +Is it really good news? Probably yes, probably not.Economies from the United States to Germany to Britain are showing an unexpected pick-up in business activity, but markets are again giving a thumbs-down to these indicators.Just as inflation once again becomes the biggest pain point for investors after they conveniently put away such worries last month, strong growth cements the case for higher interest rates.Fed funds futures traders are now pricing for the Fed's benchmark overnight interest rate to reach 5.36% in July and end the year at 5.18%.And financial markets now point to a 95% chance of an increase in the Bank of England's official rate next month, up from 90% early on Tuesday.That is depressing the mood for equity traders.Asian stock markets floated in a sea of red on Wednesday following an ugly sell-off on Wall Street.Ten-year U.S. Treasury yields rose to 3.966%, the highest since November. The dollar and sterling strengthened on expectations of further rate hikes.Inflation data from Germany and Italy due later on Wednesday will offer clues on price pressures.In this risk-off environment, the stage is set for the release of the minutes of the Fed's meeting from last week.Markets will scrutinise it for signs on how high officials project interest rates will go following recent data that showed stronger-than-expected U.S. employment and consumer prices.Political tensions are also heating up as President Joe Biden and Russian President Vladimir Putin spar verbally, presenting starkly different views of the world and the Ukraine war.China said on Wednesday that its top diplomat, Wang Yi, met Russia's security chief and both sides agreed that peace and stability in the Asia-Pacific region should be resolutely upheld, and opposed the introduction of a Cold War "mentality".On the corporate front, Bloomberg News reported that sovereign wealth fund Abu Dhabi Investment Authority is among the parties considering a bid for a 34% stake in Associated British Ports that could be valued at about 2 billion pounds or more.And finally, consulting giant McKinsey & Co, which is known for advising businesses on a variety of projects including layoffs, plans to cut about 2,000 jobs, in one of its biggest round of layoffs, Bloomberg News reported.Key developments that could influence markets on Wednesday:European economic data: German and Italian Jan inflation, Germany Feb Ifo surveyEuropean results: Iberdrola, Lloyds, TelefonicaU.S. results: eBay, NvidiaU.S. Fed releases minutes from Jan meeting (Reporting by Anshuman Daga; Editing by Sam Holmes) \ No newline at end of file diff --git a/news/EBAY/2023.02.22/Marketmind: Hang on a minute.txt b/news/EBAY/2023.02.22/Marketmind: Hang on a minute.txt new file mode 100644 index 0000000000000000000000000000000000000000..d48f172ec25ff61a61873a822ebd0cfbd1b351b0 --- /dev/null +++ b/news/EBAY/2023.02.22/Marketmind: Hang on a minute.txt @@ -0,0 +1 @@ +Only seven weeks into the new year and many of the year's favoured investments look spent already - or at least they require something of a rethink.With Wall St stocks clocking their worst day of 2023 on Tuesday, many of the big consensus trades - short dollar, long bonds and long emerging markets - all look questionable if the U.S. and world economies are re-acclerating, buoying above-target inflation and forcing central banks to tighten further.At 4.73%, two-year U.S. Treasury yields closed at their highest in 15 years. The dollar is now almost 1% higher for the year to date. Emerging market equities are at their lowest since Jan 4, the VIX 'fear index' is at its highest since Jan 3 and the S&P500 and Nasdaq have wiped out all of February gains.Whether or not stocks are in what Morgan Stanley strategist Mike Wilson likens to the 'death zone' at the top of Everest, some soul searching is underway nonetheless. And markets have calmed a little early on Wednesday. Minutes of the Federal Reserve's latest policy meeting are due for release on Wednesday - but data releases showing sticky inflation, booming retail sales and a service sector back in expansion emerged after that meeting. And so a speech from New York Fed chief John Williams make give a better steer on current thinking.Markets are now priced for a Fed 'terminal rate' in the 5.25-5.50% range by July and no cut from there by year-end.European central bankers are also talking tough as the region's economies dodge recession and inflation stays high. Deutsche Bank lifted its forecast for where the European Central Bank's key rate will peak in this tightening cycle to 3.75% from 3.25% previously - 125bp up from current rates.The only positive inflation news was that ebbing world oil prices are now tracking year-on-year declines of 15% as huge base effects from last February's Ukraine invasion kick in. Weak U.S. housing updates and downbeat retail readouts from Walmart and Home Depot also question the prevailing narrative.But geopolitical concerns rankle again ahead of Friday's anniversary, with Russia unilaterally withdrawing from a key nuclear arms control treaty.As G20 finance chiefs meet in India, the world is watching closely the extent of the alliance between Beijing and Moscow. According to the Wall Street Journal, China's top diplomat has indicated that Beijing's relationship with Moscow is "rock solid" and Chinese leader Xi Jinping is preparing to visit Moscow for a summit with Vladimir Putin in the coming months.Elsewhere, the Bank of Japan doubled down again on its bond yield cap as Japan's 10-year government bond yield breached the BoJ's policy band for a second straight session. Big manufacturers in Japan remained gloomy in February too.In banking, shares of Lloyds fell 2.6% after Britain's biggest mortgage lender reported a flat annual profit for 2022 as a jump in interest income was offset by mounting bad loan provisions. Lloyds said falling house prices, competition for savings and rising costs may crimp future returns. With results from Nvidia due on Wednesday, Microsoft struck a 10-year deal to bring "Call of Duty" and other Activision games to Nvidia's gaming platform if the Xbox maker is allowed to complete a much-contested $69 billion acquisition of Activision.Coinbase Global reported a fourth-quarter loss, as trading volume at the cryptocurrency exchange came under pressure from an industry-wide downturn triggered by a string of high-profile bankruptcies.Key developments that may provide direction to U.S. markets later on Wednesday:* U.S. Federal Reserve's Federal Open Market Committee releases minutes from its latest meeting; New York Fed President John Williams speaks* G20 finance ministers and central bank chiefs meet in Bengaluru in southern India* U.S. Treasury sells 5-year notes, 2-year floating rate notes* U.S. corp earnings: NVIDIA, EBay, NetApp, ETSY, Garmin, Allegion etcGraphic: World economy surprises in 2023 https://fingfx.thomsonreuters.com/gfx/mkt/movakqnyjva/One.PNGGraphic: US service sector expanding again https://www.reuters.com/graphics/USA-STOCKS/klvygnewkvg/spglobalpmi.pngGraphic: Japan govt. bond yields breach cap https://www.reuters.com/graphics/JAPAN-ECONOMY/BOJ%20JAPAN-ECONOMY/myvmoanagvr/Screenshot%202023-02-22%20at%2011.43.03%20AM.pngGraphic: Coinbase reports 4th consecutive quarterly net loss https://www.reuters.com/graphics/FINTECH-CRYPTO/COINBASE/klvygnkexvg/chart.pngGraphic: Moscow suspends nuclear arms control treaty https://www.reuters.com/graphics/UKRAINE-CRISIS/PUTIN-NUCLEAR/akpeqogrwpr/chart_eikon.jpg (By Mike Dolan, editing by Christina Fincher mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/EBAY/2023.02.23/EBay Inc. Reports Better Than Expected Fourth Quarter 2022 Results.txt b/news/EBAY/2023.02.23/EBay Inc. Reports Better Than Expected Fourth Quarter 2022 Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..1bc462745998e70016b7ea379135f4b4ef5a2b5b --- /dev/null +++ b/news/EBAY/2023.02.23/EBay Inc. Reports Better Than Expected Fourth Quarter 2022 Results.txt @@ -0,0 +1 @@ +*Revenue of $2.5 billion, down 4% on an as-reported basis and down 1% on an FX-Neutral basis*Gross Merchandise Volume of $18.2 billion, down 12% on an as-reported basis and down 6% on an FX-Neutral basis*GAAP and Non-GAAP EPS per diluted share of $1.23 and $1.07, respectively, on a continuing operations basis*GAAP and Non-GAAP operating margin of 22.5% and 29.9%, respectively*Returned over $419 million to shareholders in Q4, including $300 million of share repurchases and $119 million paid in cash dividends*Board of Directors declared a quarterly dividend of $0.25 per share, a 14% increase from the prior quarterly dividendeBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today reported financial results for its fourth quarter and full year ended December 31, 2022."In 2022, we made significant progress on our multi-year strategic journey," said Jamie Iannone, Chief Executive Officer at eBay. "Our focus category playbook continues to drive underlying growth in our business and the investments we've made in core technology are enabling us to innovate on behalf of our customers more quickly. We have a talented team, a strong strategic vision and a persistent focus on operational excellence that will create long-term value for our shareholders in the years ahead.""Our Q4 results demonstrate the continued resilience of our marketplace amid economic uncertainty," said Steve Priest, Chief Financial Officer at eBay. "I'm extremely proud of our teams for delivering on their quarterly financial commitments, maintaining prudent cost discipline, and executing key deliverables in support of our strategy."Fourth Quarter Financial Highlights*Revenue was $2.5 billion, down 4% on an as-reported basis and down 1% on a foreign exchange (FX) neutral basis.*Gross Merchandise Volume (GMV) was $18.2 billion, down 12% on an as-reported basis and down 6% on an FX-Neutral basis.*GAAP net income from continuing operations was $671 million, or $1.23 per diluted share, primarily driven by the change in fair value of our equity investments.*Non-GAAP net income from continuing operations was $581 million, or $1.07 per diluted share.*GAAP and Non-GAAP operating margin was 22.5% and 29.9%, respectively.*Generated $686 million of operating cash flow and $533 million of free cash flow from continuing operations.*Returned over $419 million to shareholders, including $300 million of share repurchases and $119 million paid in cash dividends.*Issued $1.15 billion of senior unsecured notes in November 2022.Full Year Financial Highlights*Revenue was $9.8 billion, down 6% on an as-reported basis and down 4% on an FX-Neutral basis.*GMV was $73.9 billion, down 15% on an as-reported basis and down 11% on an FX-Neutral basis.*GAAP net loss from continuing operations was $1.3 billion, or $(2.28) per diluted share, primarily driven by the change in fair value of our equity investments.*Non-GAAP net income from continuing operations was $2.3 billion, or $4.11 per diluted share.*GAAP and Non-GAAP operating margin was 24.0% and 30.0%, respectively.*Generated $2.6 billion of operating cash flow and $2.2 billion of free cash flow from continuing operations.*Sold shares in Adevinta, Adyen and KakaoBank for cash proceeds of $1.1 billion in the aggregate.*Returned over $3.6 billion to shareholders, including $3.1 billion of share repurchases and $489 million paid in cash dividends.Business HighlightsRevenue Initiatives*eBay's first party advertising products, primarily driven by Promoted Listings, delivered $276 million of revenue in the fourth quarter, up 19% on an as-reported basis and up 27% on an FX-Neutral basis.*The company's total advertising offerings generated over $319 million in revenue in the fourth quarter, representing roughly 1.8% of GMV.*For sellers who use Promoted Listings Advanced, eBay launched Quick Setup, a one-click campaign creation solution where eBay automates and optimizes the campaign structure, ad groups, targeting and keyword bids. The company also introduced multi-user account access across the full suite of Promoted Listings, which enables eBay sellers to delegate campaign management to trusted third-parties like brands or ad agencies.*During the quarter, eBay introduced split payments in the U.S. for transactions over $1,000, enabling buyers to spread large purchases across two credit cards.*In Australia, eBay launched ZipPay and ZipMoney as additional Buy Now, Pay Later options for eligible customers. With the introduction of ZipMoney, eBay buyers can enjoy up to six months of interest-free payment installments for items like luxury handbags, smartphones and car parts.Tech-Led Reimagination of the Platform*eBay and Nike commemorated 20 years of the Nike SB Dunk with a general re-release of the "eBay Dunk." The companies auctioned 10 exclusive, limited edition tribute pairs, with proceeds benefiting the Bodecker Foundation.*eBay opened a pop-up Luxury Exchange store in New York City, where shoppers were invited to have their jewelry, handbags and watches appraised and exchanged for "closet currency" to purchase authentic items from eBay's top luxury sellers.*To further improve trust for Motors Parts and Accessories (P&A) buyers, eBay launched a "Fits Your Vehicle" badge that clearly indicates if a part fits their vehicle. The badge is displayed prominently throughout the buyer's journey across search, merchandising, view item and checkout.*In Q4, eBay Motors began a major evolution of its tire installation capabilities, broadening its network of installation partners to better serve P&A buyers in more locations. The company is also making installation more visible on the View Item page and prompting buyers to select installation at checkout on desktop and mobile web.*eBay Motors sponsored Sarah and Bridget Burgess for their October 14 ARCA Menards West Series race, which marks the first time in NASCAR and ARCA history that a mother and daughter raced each other in the sport.*eBay hosted Love Island U.K. Ambassador Tasha Ghouri's Store of Preloved Sparkle, showcasing a curated collection of party clothes, refurbished tech and Authenticity Guaranteed handbags and watches to promote non-new gifting and party wear.*In February 2023, eBay acquired 3PM Shield, a provider of advanced AI-based marketplace compliance solutions. This acquisition further enhances eBay's world-class monitoring solutions with technologies designed to prevent the sale of counterfeit items, unsafe products and illegal goods, and is part of eBay's ongoing commitment to provide sellers and buyers with a safe and trusted platform.Impact*In 2022, eBay generated $4.6 billion in positive economic impact through the sale of pre-loved and refurbished goods. This activity avoided 1.6 million metric tons of carbon emissions and kept 73,000 metric tons of waste from going into landfills.*In recognition of the company's sustainability efforts, eBay was included in the Dow Jones Sustainability World and North American Indices as well as CDP's A List for 2022. Additionally, eBay ranked number one on Cross-Border Commerce Europe's list of the Top Sustainable Marketplaces Operating in Europe.*During the quarter, eBay published its inaugural Small Business Report, which examines how sellers start their businesses on eBay and the important ways in which the marketplace has fueled their growth while enabling community and global reach.*eBay released its U.S. Women-Owned Small Online Business Export Report, which details how women entrepreneurs on eBay are building successful business enterprises for the long haul by exporting to new global markets.*The company launched the eBay Academy for Japan, which teaches Japanese sellers of all levels how to take advantage of the tools at their fingertips by providing them with e-learning materials, online seminars, workshops and the eBay Talks podcast.*The eBay Foundation granted nearly $23 million in 2022, primarily to non-profit organizations advancing inclusive entrepreneurship and through the company's employee matching gifts program.*eBay for Charity contributed more than $35 million globally during the quarter and more than $163 million in 2022.Fourth Quarter and Full Year 2022 Financial Highlights (presented in millions, except per share data and percentages)Fourth QuarterFull Year20222021Change20222021ChangeeBay Inc.Net revenues$ 2,510$ 2,613$ (103)(4) %$ 9,795$ 10,420$ (625)(6) %GAAP - Continuing OperationsIncome (loss) from continuingoperations$ 671$ (893)$ 1,564**$ (1,274)$ 252$ (1,526)**Earnings (loss) per diluted sharefrom continuing operations$ 1.23$ (1.47)$ 2.70**$ (2.28)$ 0.38$ (2.66)**Non-GAAP - ContinuingOperationsNet income$ 581$ 647$ (66)(10) %$ 2,312$ 2,661$ (349)(13) %Earnings per diluted share$ 1.07$ 1.05$ 0.022 %$ 4.11$ 4.02$ 0.092 %** Not meaningfulOther Selected Financial and Operational ResultsOperating margin - GAAP operating margin decreased to 22.5% for the fourth quarter of 2022, compared to 26.3% for the same period last year. Non-GAAP operating margin decreased to 29.9% in the fourth quarter of 2022, compared to 31.6% for the same period last year.Taxes - The GAAP effective tax rate for continuing operations for the fourth quarter of 2022 was 19.1%, compared to 23.1% for the fourth quarter of 2021. The non-GAAP effective tax rate for continuing operations for the fourth quarter of 2022 was 16.5%(1).Cash flow - The company generated $686 million of operating cash flow and $533 million of free cash flow from continuing operations during the fourth quarter of 2022.Capital returns - The company repurchased $300 million of its common stock, or roughly 7 million shares, in the fourth quarter of 2022. The company's total repurchase authorization remaining as of December 31, 2022 was more than $2.8 billion. The company also paid cash dividends of $119 million during the fourth quarter of 2022.Cash and cash equivalents and non-equity investments - The company's cash and cash equivalents and non-equity investments portfolio totaled $5.9 billion as of December 31, 2022.Business OutlookeBay is providing the following guidance for continuing operations for Q1 2023.In billions, except per share data and percentagesQ1 2023 GuidanceRevenue$2.46 - $2.50Organic FX-Neutral Y/Y Growth0% - 2%Diluted GAAP EPS$0.77 - $0.81Diluted Non-GAAP EPS$1.05 - $1.09Dividend DeclarationeBay's Board of Directors has declared a cash dividend of $0.25 per share of the company's common stock. The dividend is payable on March 24, 2023 to stockholders of record as of March 10, 2023.(1) We use a non-GAAP effective tax rate for evaluating our operating results. Based on our current long-term projections, we are using a non-GAAP tax rate of 16.5%. This non-GAAP tax rate could change for various reasons including significant changes in our geographic earnings mix or fundamental tax law changes in major jurisdictions in which we operate.Quarterly Conference Call and WebcasteBay Inc. will host a conference call to discuss fourth quarter and full year 2022 results at 2:00 p.m. Pacific Time today. Investors and participants can access the call by dialing (888) 655-9638 in the U.S. and (646) 960-0687 internationally. The passcode for the conference line is 7435074. A live webcast of the conference call, together with a slide presentation that includes supplemental financial information and reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, can be accessed through the company's Investor Relations website at investors.ebayinc.com. In addition, an archive of the webcast will be accessible for at least three months through the same link.eBay Inc. uses its Investor Relations website at investors.ebayinc.com as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor this website, in addition to following our press releases, SEC filings, public conference calls and webcasts.About eBayeBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects millions of buyers and sellers in more than 190 markets around the world. We exist to enable economic opportunity for individuals, entrepreneurs, businesses and organizations of all sizes. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2022, eBay enabled nearly $74 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.PresentationAll growth rates represent year-over-year comparisons, except as otherwise noted. All amounts in tables are presented in U.S. dollars, rounded to the nearest million, except as otherwise noted. As a result, certain amounts may not sum or recalculate using the rounded dollar amounts provided. References to "revenue" refer to "net revenues" as reported in the company's consolidated statement of income.Non-GAAP Financial MeasuresThis press release includes the following financial measures defined as "non-GAAP financial measures" by the Securities and Exchange Commission (SEC): non-GAAP net income, non-GAAP earnings per diluted share, non-GAAP operating income, non-GAAP effective tax rate, free cash flow and FX-Neutral basis. These non-GAAP financial measures are presented on a continuing operations basis. These measures may be different from non-GAAP financial measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation of, or as a substitute for, the financial information prepared and presented in accordance with generally accepted accounting principles (GAAP). For a reconciliation of these non-GAAP financial measures, except for figures in this press release presented on an "FX-Neutral basis," to the nearest comparable GAAP measures, see "Business Outlook," "Non-GAAP Measures of Financial Performance," "Reconciliation of GAAP Operating Income to Non-GAAP Operating Income," "Reconciliation of GAAP Net Income to Non-GAAP Net Income and Reconciliation of GAAP Effective Tax Rate to Non-GAAP Effective Tax Rate" and "Reconciliation of Operating Cash Flow to Free Cash Flow" included in this press release. For figures in this press release reported "on an FX-Neutral basis," we calculate the year-over-year impact of foreign currency movements using prior period foreign currency rates applied to current year transactional currency amounts. We define Organic FX-Neutral revenue growth as reported revenue growth, excluding incremental revenue from acquisitions or dispositions for the twelve-month period following such acquisitions or dispositions and foreign exchange rate effects.Forward-Looking StatementsThis press release contains forward-looking statements relating to, among other things, the future performance of eBay Inc. and its consolidated subsidiaries that are based on the company's current expectations, forecasts and assumptions and involve risks and uncertainties. These statements include, but are not limited to, statements regarding the future performance of eBay Inc. and its consolidated subsidiaries, including management's vision for the future of eBay and our ability to accomplish our vision, expected financial results for the first quarter and full year 2023 and the future growth in our business, the effects of geopolitical events and inflationary pressure on our business and operations and our ability to respond to such effects, operating efficiency and margins, reinvestments, dividends and share repurchases. Actual results could differ materially from those predicted or implied and reported results should not be considered as an indication of future performance. Other factors that could cause or contribute to such differences include, but are not limited to: changes in political, business and economic conditions, including impacts from the ongoing war in Ukraine, rising inflation and interest rates, decreases in consumer confidence, the effects of COVID-19 on our business and operations and on the general economy, including effects on our sellers and customers, any regional or general economic downturn or crisis and any conditions that affect e-commerce growth or cross-border trade; the company's ability to realize expected growth opportunities in payments intermediation and advertising; fluctuations in foreign currency exchange rates; the company's need to successfully react to the increasing importance of mobile commerce and the increasing social aspect of commerce; an increasingly competitive environment for its business; changes to the company's capital allocation, including the timing, declaration, amount and payment of any future dividends or levels of the company's share repurchases, or management of operating cash; the company's ability to increase operating efficiency to drive margin improvements and enable reinvestments; the company's ability to manage its indebtedness, including managing exposure to interest rates and maintaining its credit ratings; the company's need to manage a large enterprise with a broad range of businesses of varying degrees of maturity and in many different geographies; the ability to successfully intermediate payments on our marketplace platform; the company's need and ability to manage regulatory, tax, data security and litigation risks; the ultimate resolution of ongoing investigations and other legal matters involving the Company; the company's ability to timely upgrade and develop its technology systems, infrastructure and customer service capabilities at reasonable cost while maintaining site stability and performance and adding new products and features; and the company's ability to integrate, manage and grow businesses that have been acquired or may be acquired in the future.The forward-looking statements in this release do not include the potential impact of any acquisitions or divestitures that may be announced and/or completed after the date hereof.More information about factors that could affect the company's operating results is included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q, copies of which may be obtained by visiting the company's Investor Relations website at investors.ebayinc.com or the SEC's website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the company on the date hereof. The company assumes no obligation to update such statements.eBay Inc.Unaudited Condensed Consolidated Balance SheetDecember 31,2022December 31,2021(In millions)ASSETSCurrent assets:Cash and cash equivalents$ 2,154$ 1,379Short-term investments2,6255,944Equity investment in Adevinta2,692-Customer accounts and funds receivable763681Other current assets1,0561,107Total current assets9,2909,111Long-term investments1,7972,575Property and equipment, net1,2381,236Goodwill4,2624,178Operating lease right-of-use assets513289Deferred tax assets3,1693,255Equity investment in Adevinta-5,391Other assets581591Total assets$ 20,850$ 26,626LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Short-term debt$ 1,150$ 1,355Accounts payable261262Customer accounts and funds payable768707Accrued expenses and other current liabilities1,8661,927Income taxes payable226371Total current liabilities4,2714,622Operating lease liabilities418200Deferred tax liabilities2,2453,116Long-term debt7,7217,727Other liabilities1,0421,183Total liabilities15,69716,848Total stockholders' equity5,1539,778Total liabilities and stockholders' equity$ 20,850$ 26,626eBay Inc.Unaudited Condensed Consolidated Statement of IncomeThree Months EndedDecember 31,Year EndedDecember 31,2022202120222021(In millions, except per share amounts)Net revenues$ 2,510$ 2,613$ 9,795$ 10,420Cost of net revenues (1)6816942,6802,650Gross profit1,8291,9197,1157,770Operating expenses:Sales and marketing (1)5545692,1362,170Product development (1)3403371,3301,325General and administrative (1)288206963921Provision for transaction losses81119332422Amortization of acquired intangible assets1-49Total operating expenses1,2641,2314,7654,847Income from operations5656882,3502,923Gain (loss) on equity investments and warrant, net319(1,875)(3,786)(2,365)Interest and other, net(55)26(165)(160)Income (loss) from continuing operations before incometaxes829(1,161)(1,601)398Income tax benefit (provision)(158)268327(146)Income (loss) from continuing operations671(893)(1,274)252Income (loss) from discontinued operations, net of incometaxes12,862513,356Net income (loss)$ 672$ 1,969$ (1,269)$ 13,608Income (loss) per share - basicContinuing operations$ 1.24$ (1.47)$ (2.28)$ 0.39Discontinued operations0.004.720.0120.48Net income (loss) per share - basic$ 1.24$ 3.25$ (2.27)$ 20.87Income (loss) per share - diluted:Continuing operations$ 1.23$ (1.47)$ (2.28)$ 0.38Discontinued operations0.004.720.0120.16Net income (loss) per share - diluted$ 1.23$ 3.25$ (2.27)$ 20.54Weighted average shares:Basic541606558652Diluted544606558663(1) Includes stock-based compensation as follows:Cost of net revenues$ 13$ 12$ 51$ 47Sales and marketing16137383Product development6249222196General and administrative3738148151$ 128$ 112$ 494$ 477eBay Inc.Unaudited Condensed Consolidated Statement of Cash FlowsThree Months EndedDecember 31,Year EndedDecember 31,2022202120222021(In millions)Cash flows from operating activities:Net income (loss)$ 672$ 1,969$ (1,269)$ 13,608(Income) from discontinued operations, net of income taxes(1)(2,862)(5)(13,356)Adjustments:Provision for transaction losses81119332422Depreciation and amortization107122442502Stock-based compensation128112494477Loss (gain) on investments and other, net14(120)21(159)Deferred income taxes27(721)(780)(680)Change in fair value of warrant(16)29230(354)Change in fair value of equity investment in Adevinta(282)1,5732,6913,070Change in fair value of equity investment in Adyen-1026110Change in fair value of equity investment in Gmarket(5)32943Change in fair value of equity investment in KakaoBank(28)109293(486)Loss on impairment of equity investment in Paytm Mall-160-160Loss on extinguishment of debt---10Changes in assets and liabilities, net of acquisition effects(11)(28)(377)(134)Net cash provided by continuing operating activities6864752,6273,093Net cash used in discontinued operating activities(2)(182)(373)(436)Net cash provided by operating activities6842932,2542,657Cash flows from investing activities:Purchases of property and equipment(153)(103)(449)(444)Purchases of investments(3,311)(7,058)(18,534)(22,161)Maturities and sales of investments2,3795,01820,62618,770Proceeds from sale of shares in Adevinta82,32582,325Proceeds from sale of shares in Adyen--800-Proceeds from sale of shares in KakaoBank--287114Acquisition of TCGplayer, net of cash acquired(208)-(208)-Settlement of foreign exchange derivative instruments in equityinvestments-85-85Exercise of options under warrant-(110)-(110)Other(9)(9)(71)4Net cash provided by (used in) continuing investing activities(1,294)1482,459(1,417)Net cash provided by discontinued investing activities-2,63725,080Net cash provided by (used in) investing activities(1,294)2,7852,4613,663Cash flows from financing activities:Proceeds from issuance of common stock32368793Repurchases of common stock(315)(3,089)(3,143)(7,055)Payments for taxes related to net share settlements of restrictedstock units and awards(30)(50)(160)(236)Payments for dividends(119)(107)(489)(466)Proceeds from issuance of long-term debt, net1,143-1,1432,478Repayment of debt--(1,355)(1,156)Net funds receivable and payable activity33(99)125(208)Other-(1)-(7)Net cash provided by (used in) continuing financing activities744(3,310)(3,792)(6,557)Net cash provided by discontinued financing activities-23-25Net cash provided by (used in) financing activities744(3,287)(3,792)(6,532)Effect of exchange rate changes on cash, cash equivalents andrestricted cash32(6)(57)24Net increase (decrease) in cash, cash equivalents and restricted cash166(215)866(188)Cash, cash equivalents and restricted cash at beginning of period2,1061,6211,4061,594Cash, cash equivalents and restricted cash at end of period$ 2,272$ 1,406$ 2,272$ 1,406eBay Inc.Unaudited Summary of Consolidated Net RevenuesThree Months EndedDecember 31,2022September 30,2022June 30,2022March 31,2022December 31,2021(In millions, except percentages)Total net revenues (1)(2)(3)$ 2,510$ 2,380$ 2,422$ 2,483$ 2,613Current quarter vs prior year quarter(4) %(5) %(9) %(6) %5 %Percent from international51 %50 %51 %51 %52 %(1) Hedge gain/(loss)$ 89$ 36$ 9$ 6$ -(2) Foreign currency impact$ (67)$ (100)$ (95)$ (58)$ 7(3)Beginning in the fourth quarter of 2022, we present revenues generated from our Marketplace GMV and from non-GMV based businesses as "Net revenues" in order to more closely align our presentation of net revenues with how our business is operated. We formerly presented such amounts as "Net transaction revenues" and "Marketing services and other (MS&O) revenues," and those line items for such prior periods have been conformed to current period presentation. Consolidated net revenues are unchanged.eBay Inc.Unaudited Supplemental Operating DataThree Months EndedDecember 31,2022September 30,2022June 30,2022March 31,2022December 31,2021(In millions, except percentages)Active Buyers (1)134135138142147Current quarter vs prior year quarter(9) %(11) %(12) %(13) %(9) %Active Buyers excluding GittiGidiyorand TCGplayer (2)132133135138143Current quarter vs prior year quarter(8) %(10) %(11) %(12) %(8) %Gross Merchandise Volume (3)U.S.$ 8,894$ 8,699$ 8,982$ 9,335$ 9,724Current quarter vs prior year quarter(9) %(7) %(13) %(14) %(2) %International$ 9,333$ 9,016$ 9,567$ 10,074$ 11,002Current quarter vs prior year quarter(15) %(15) %(22) %(24) %(16) %Total Gross Merchandise Volume$ 18,227$ 17,715$ 18,549$ 19,409$ 20,726Current quarter vs prior year quarter(12) %(11) %(18) %(20) %(10) %(1)All buyers who paid for a transaction on our platforms within the previous 12-month period. Buyers may register more than once, and as a result, may have more than one account.(2)On June 20, 2022 we announced the closure of our marketplace business in Turkey, GittiGidiyor. On October 31, 2022, we completed the acquisition of TCGplayer.(3)Gross Merchandise Volume consists of the total value of all paid transactions between users on our platforms during the applicable period inclusive of shipping fees and taxes.eBay Inc.Business OutlookThe guidance figures provided below and elsewhere in this press release are forward-looking statements, reflect a number of estimates, assumptions and other uncertainties, and are approximate in nature because the company's future performance is difficult to predict. Revenue guidance is provided on an FX-Neutral basis and excludes incremental revenue from acquisitions or dispositions for the twelve-month period following such acquisitions or dispositions. Such guidance is based on information available on the date of this press release, and the company assumes no obligation to update it.The company's future performance involves risks and uncertainties, and the company's actual results could differ materially from the information below and elsewhere in this press release. Some of the factors that could affect the company's operating results are set forth under the caption "Forward-Looking Statements" above in this press release. More information about factors that could affect the company's operating results is included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in its most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, copies of which may be obtained by visiting eBay's investor relations website at investors.ebayinc.com or the SEC's website at www.sec.gov.eBay Inc.Three Months EndingMarch 31, 2023(In billions, except per share amounts)GAAPNon-GAAP (a)Net Revenue$2.46 - $2.50$2.46 - $2.50Diluted EPS from continuing operations$0.77 - $0.81$1.05 - $1.09(a) Estimated non-GAAP amounts above for the three months ending March 31, 2023 reflect adjustments that exclude theestimated amortization of acquired intangible assets of approximately $5 - $10 million, estimated stock-based compensationexpense and associated employer payroll tax expense of approximately $130 - $140 million and estimated adjustment betweenour GAAP and non-GAAP tax rate of approximately $20 - $30 million. The estimated GAAP diluted EPS above does notassume any gains or losses on our equity investments.eBay Inc.Non-GAAP Measures of Financial PerformanceTo supplement the company's condensed consolidated financial statements presented in accordance with generally accepted accounting principles, or GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP net income, non-GAAP earnings per diluted share, non-GAAP operating income, non-GAAP effective tax rate, free cash flow and figures in this press release presented on an "FX-Neutral basis." These non-GAAP financial measures are presented on a continuing operations basis.These non-GAAP measures are not in accordance with, or an alternative to, measures prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the company's results of operations as determined in accordance with GAAP. These measures should only be used to evaluate the company's results of operations in conjunction with the corresponding GAAP measures.Reconciliation to the nearest GAAP measure of all non-GAAP measures included in this press release, except for figures in this press release presented on an "FX-Neutral basis," can be found in the tables included in this press release. For figures in this press release reported "on an FX-Neutral basis," the company calculates the year-over-year impact of foreign currency movements using prior period foreign currency rates applied to current year transactional currency amounts. The company defines organic FX-Neutral revenue growth as reported revenue growth, excluding incremental revenue from acquisitions or dispositions for the twelve-month period following such acquisitions or dispositions and foreign exchange rate effects.These non-GAAP measures are provided to enhance investors' overall understanding of the company's current financial performance and its prospects for the future. Specifically, the company believes the non-GAAP measures provide useful information to both management and investors by excluding certain expenses, gains and losses, or net purchases of property and equipment, as the case may be, that may not be indicative of its core operating results and business outlook. In addition, because the company has historically reported certain non-GAAP results to investors, the company believes that the inclusion of non-GAAP measures provides consistency in the company's financial reporting.For its internal budgeting process, and as discussed further below, the company's management uses financial measures that do not include stock-based compensation expense, employer payroll taxes on stock-based compensation, amortization or impairment of acquired intangible assets, impairment of goodwill, amortization of deferred tax assets associated with the realignment of its legal structure and related foreign exchange effects, significant gains or losses from the disposal/acquisition of a business, certain gains and losses on investments including changes in fair value, changes in foreign currency exchange rates and the impact of any related foreign exchange derivative instruments, gains or losses associated with a warrant agreement that the company entered into with Adyen, restructuring-related charges and the income taxes associated with the foregoing. In addition to the corresponding GAAP measures, the company's management also uses the foregoing non-GAAP measures in reviewing the financial results of the company.The company excludes the following items from non-GAAP net income, non-GAAP earnings per diluted share, non-GAAP operating income and non-GAAP effective tax rate:Stock-based compensation expense and related employer payroll taxes. This expense consists of expenses for stock options, restricted stock and employee stock purchases. The company excludes stock-based compensation expense from its non-GAAP measures primarily because they are non-cash expenses that management does not believe are reflective of ongoing operating results. The related employer payroll taxes are dependent on the company's stock price and the vesting of restricted stock by employees and the timing and size of stock option exercises, over which management has limited to no control, and as such management does not believe it correlates to the company's operation of the business.Amortization or impairment of acquired intangible assets, impairment of goodwill, certain amortization of deferred tax assets and related foreign exchange effects, significant gains or losses and transaction expenses from the acquisition or disposal of a business and certain gains or losses on investments. The company incurs amortization or impairment of acquired intangible assets and goodwill in connection with acquisitions and may incur significant gains or losses from the acquisition or disposal of a business and therefore excludes these amounts from its non-GAAP measures. The company also excludes certain gains and losses on investments. The company excludes the non-cash amortization of deferred tax assets associated with the realignment of its legal structure, which is not reduced by the effects of the Tax Cuts and Jobs Act, and related foreign exchange effects. The company excludes these items because management does not believe they correlate to the ongoing operating results of the company's business.Restructuring. These charges consist of expenses for employee severance and other exit and disposal costs. The company excludes significant restructuring charges primarily because management does not believe they are reflective of ongoing operating results.Other certain significant gains, losses, or charges that are not indicative of the company's core operating results. These are significant gains, losses, or charges during a period that are the result of isolated events or transactions which have not occurred frequently in the past and are not expected to occur regularly or be repeated in the future. The company excludes these amounts from its results primarily because management does not believe they are indicative of its current or ongoing operating results. These amounts include changes in fair value and the related change in foreign currency exchange rates of equity securities with readily determinable fair values, globally.Change in fair market value of warrant. These are gains or losses associated with a warrant agreement that the company entered into with Adyen, which are attributable to changes in fair value during the period.Income tax effects and adjustments. We use a non-GAAP tax rate for evaluating our operating results. Based on our current long-term projections, we are using a non-GAAP tax rate of 16.5%. This non-GAAP tax rate could change for various reasons including significant changes in our geographic earnings mix or fundamental tax law changes in major jurisdictions in which we operate.In addition to the non-GAAP measures discussed above, the company also uses free cash flow. Free cash flow represents operating cash flows less purchases of property and equipment. The company considers free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchases of property, buildings, and equipment, which can then be used to, among other things, invest in the company's business, make strategic acquisitions, repurchase stock and pay dividends. A limitation of the utility of free cash flow as a measure of financial performance is that it does not represent the total increase or decrease in the company's cash balance for the period.eBay Inc.Reconciliation of GAAP Operating Income to Non-GAAP Operating Income*Three Months EndedDecember 31,Year EndedDecember 31,2022202120222021(In millions, except percentages)GAAP operating income$ 565$ 688$ 2,350$ 2,923Stock-based compensation expense and related employerpayroll taxes130115507489Amortization of acquired intangible assets within cost of netrevenues and operating expenses5-99Other significant gains, losses or charges50237358Total non-GAAP operating income adjustments185138589556Non-GAAP operating income$ 750$ 826$ 2,939$ 3,479Non-GAAP operating margin29.9 %31.6 %30.0 %33.4 %*Presented on a continuing operations basisReconciliation of GAAP Net Income to Non-GAAP Net Income andGAAP Effective Tax Rate to Non-GAAP Effective Tax RateThree Months EndedDecember 31,Year EndedDecember 31,2022202120222021(In millions, except per share amounts and percentages)GAAP income (loss) from continuing operations before incometaxes$ 829$ (1,161)$ (1,601)$ 398GAAP (provision) benefit for income taxes(158)268327(146)GAAP net income (loss) from continuing operations$ 671$ (893)$ (1,274)$ 252Non-GAAP adjustments to net income (loss) from continuingoperations:Non-GAAP operating income from continuing operationsadjustments (see table above)$ 185$ 138$ 589$ 556Loss on investments(20)275861(361)Change in fair market value of warrant(16)29230(354)Change in fair value of equity investment in Adevinta(282)1,5732,6913,070Other significant gains, losses or charges-(71)(1)(85)Income tax effects and adjustments43(404)(784)(417)Non-GAAP net income from continuing operations$ 581$ 647$ 2,312$ 2,661Diluted net income (loss) from continuing operations per share:GAAP$ 1.23$ (1.47)$ (2.28)$ 0.38Non-GAAP$ 1.07$ 1.05$ 4.11$ 4.02Shares used in GAAP diluted net income (loss) per-sharecalculation544606558663Shares used in non-GAAP diluted net income per-sharecalculation544615562663GAAP effective tax rate - Continuing operations19.1 %23.1 %20.4 %36.6 %Income tax effects and adjustments to net income (loss) fromcontinuing operations(2.6) %(5.8) %(3.9) %(19.2) %Non-GAAP effective tax rate - Continuing operations16.5 %17.3 %16.5 %17.4 %Reconciliation of Operating Cash Flow to Free Cash FlowThree Months EndedDecember 31,Year EndedDecember 31,2022202120222021(In millions)Net cash provided by continuing operating activities$ 686$ 475$ 2,627$ 3,093Less: Purchases of property and equipment(153)(103)(449)(444)Free cash flow$ 533$ 372$ 2,178$ 2,649eBay Inc.Investor Relations Contact:John Egbertir@ebay.comMedia Relations Contact:Trina Somerapress@ebay.comCompany News:https://www.ebayinc.com/stories/news/Investor Relations website:https://investors.ebayinc.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/EBAY/2023.02.23/Futures rise as Nvidia's strong forecast lifts chipmakers.txt b/news/EBAY/2023.02.23/Futures rise as Nvidia's strong forecast lifts chipmakers.txt new file mode 100644 index 0000000000000000000000000000000000000000..95d56ae9e8a9554c144dc8cccffb348a1b99c9c4 --- /dev/null +++ b/news/EBAY/2023.02.23/Futures rise as Nvidia's strong forecast lifts chipmakers.txt @@ -0,0 +1 @@ +Nvidia Corp surged 9.6% in premarket trading after the chip designer forecast quarterly sales above estimates and reported a surge in the use of its chips to power artificial intelligence services, such as chatbots.Shares of Broadcom Inc, Qualcomm Inc, Intel Corp and Advanced Micro Devices Inc rose between 1.7% and 3.9%.At 07:21 a.m. ET, Dow e-minis were up 99 points, or 0.3%, S&P 500 e-minis were up 21 points, or 0.53%, and Nasdaq 100 e-minis were up 112.5 points, or 0.93%.The benchmark S&P 500 closed lower on Wednesday after minutes from the central bank's Jan. 31-Feb. 1 meeting showed nearly all policymakers supported more rate hikes but agreed that the shift to smaller-sized hikes would let them calibrate better with incoming data.After a strong January, stock markets have run into a volatile patch as evidence of inflation running above the Fed's 2% target, a resilient economy and hawkish commentary by central bank officials fanned concerns about further rate hikes.Those concerns will be at the back of traders' minds as they peruse remarks from Atlanta Fed President Raphael Bostic and San Francisco Fed President Mary Daly later in the day.The second reading of fourth-quarter gross domestic product (GDP) and weekly jobless claims data are also due.Analysts polled by Reuters predict a correction within the next three months even though they expect the S&P 500 to climb 5% by year-end.Among stock, eBay Inc slid 5.2% after warning of dour demand in the first half of 2023 due to strained consumer spending domestically and in Europe. (Reporting by Johann M Cherian in Bengaluru; Editing by Savio D'Souza) \ No newline at end of file diff --git a/news/EBAY/2023.02.23/Global markets live: BAE Systems, Ebay, Nvidia, Lucid Group, Bumble....txt b/news/EBAY/2023.02.23/Global markets live: BAE Systems, Ebay, Nvidia, Lucid Group, Bumble....txt new file mode 100644 index 0000000000000000000000000000000000000000..76ba265fc1874e6a101576f4231dc44f8c117480 --- /dev/null +++ b/news/EBAY/2023.02.23/Global markets live: BAE Systems, Ebay, Nvidia, Lucid Group, Bumble....txt @@ -0,0 +1,35 @@ + +  +  +Corporate results: + +BAE Systems: The British company posted a 9.5% increase in annual profits and expects further growth this year. +Ebay warned to expect a decline in demand in the current six months after a drop in profit in the last three months of 2022 amid pressure on consumer spending in the U.S. and Europe. +Eni: sees its net profit doubling to €13.8 billion in 2022. +Genmab: The Danish company expects its sales to rise and its operating profit to fall in 2023. +NVidia issued a revenue forecast for the current quarter on Wednesday that beat Wall Street expectations. +Pirelli: strong growth in 2022 results. The market will be less dynamic this year. +Rolls-Royce topped forecasts with a 57% increase in profit. +NetApp reported adjusted fourth-quarter earnings per share below Wall Street expectations. +Telefonica: 2022 net profit exceeds market expectations at €2bn. +WPP: expects growth of 3 to 5% in 2023. +Lucid Group posted quarterly revenue below the Refinitiv consensus. +Bumble expects revenue growth this year of 16 percent to 19 percent, a rate higher than the market expected. + +  +In other news: + +Firmenich and Royal DSM get the green light from the EU for their merger. +Third Point wants to make its voice heard at the general meeting at Bed Bath & Beyond. +The supervisory board of SAP nominates Punit Renjen as chairman to replace Hasso Plattner. +John Wood rejects Apollo's takeover offer for 1.6 bn GBP. +Sika agrees to sell some of MBCC's assets to resolve competition issues in Canada. +Orsted offers €2bn of green bonds to finance renewable energy expansion. +Eni reaches agreement on biofuels for Saipem's naval fleet. +Roche commercializes two antibodies to diagnose brain cancer. +Deutsche Bank plans to strengthen its operations in Mexico. +Moderna announced that its experimental skin cancer vaccine combined with Merck& Co's Keytruda now has "breakthrough therapy" status as designated by U.S. regulators. +Bank of America (BofA) set aside $1.2 billion for litigation and fine settlements last year, compared with $164 million in 2021. +Wells Fargo laid off hundreds of mortgage bankers this week as part of its recent strategic plan, CNBC reports. + +Main earnings reports today: Alibaba, AstraZeneca, Raytheon, Honeywell, Unilever, S&P Global, Intuit, Deutsche Telekom, EssilorLuxottica, AXA, Solvay, GSK, Moderna... All the agenda is here. diff --git a/news/EBAY/2023.02.23/Markets are at a crossroads.txt b/news/EBAY/2023.02.23/Markets are at a crossroads.txt new file mode 100644 index 0000000000000000000000000000000000000000..8253058a5d96ef342e1fa0c768dad54da0063677 --- /dev/null +++ b/news/EBAY/2023.02.23/Markets are at a crossroads.txt @@ -0,0 +1,38 @@ + +After a boring session yesterday, stock markets look set to be more dynamic today, with an avalanche of corporate results. Investors were awaiting two macroeconomic deadlines: a second estimate of US GDP for the fourth quarter of 2022 this morning and a crucial inflation figure tomorrow. + +  +The GDP figure has been released and it shows real gross domestic product increased at an annual rate of 2.7 percent in the fourth quarter of 2022, down from a first estimate of 2.9%. In the third quarter, real GDP increased 3.2 percent. +The Bureau of Economic Analysis said the updated estimates primarily reflect a downward revision to consumer spending that was partly offset by an upward revision to nonresidential fixed investment Imports were also revised up. +Stock markets seem to be at a crossroads after their sharp rise in January. Yesterday in Europe, indices hovered around the equilibrium all day, closing with relatively modest variations, both up and down. In the United States, the electroencephalogram was also flat, after the slap received the day before. The Nasdaq 100 recovered 0.05% after losing more than 2% on Tuesday, while the S&P500 returned 0.16%. Real estate and oil stocks underperformed. +Investors are concerned that high rates will continue for longer than expected, which will hurt the performance of the stock market (money is more expensive) and the bond market (yields go up, bond prices go down). Economic dynamics may suffer (oil is under pressure). The Fed's restrictive monetary policy is strengthening the dollar and pushing gold down. To invalidate the current configuration, macroeconomic indicators would have to be more frankly deflationary, which is no longer really the case with the latest announcements: the labor market is robust, activity indicators are tending to rise and the moderation in price increases is not sufficiently convincing. +The next important macro statistic in the US is PCE inflation (inflation that hits the consumer), which will be announced on Friday. The reading will probably be quite binary: either the figure is in line with expectations or slowing down more than expected and equity markets should appreciate, or it is more dynamic than expected and this will reinforce the feeling that inflation has not said its last word, which would force the Fed to keep up the pressure, which investors would not appreciate. The minutes of the last central bank meeting that were published last night don't really help the situation since they didn't bring any new information. +In the meantime, earnings season continues with good results for graphics card maker Nvidia, whose results could inspire the semiconductor sector, which is the driving force behind the technology sector. It was less of a party for eBay, however. +  +Economic highlights of the day: +The second reading of European inflation for January, the Chicago Fed index, the weekly unemployment figures and a new estimate of Q4 GDP are today's main highlights. All the agenda is here.  +The dollar is flat at EUR 0.9418 and GBP 0.8300. The ounce of gold remains under pressure at 1824 dollars. Oil is up, with North Sea Brent crude at USD 81.31 per barrel and US WTI light crude at USD 74.97. The yield on 10-year US debt remains high perched at 3.92%. Bitcoin is down to USD 24,100. +  +In corporate news: +* NVidia jumped 8.4% in after-hours trading after the company issued a revenue forecast for the current quarter on Wednesday that beat Wall Street expectations. +* Ebay fell nearly 6 percent in after-hours trading as the auction specialist warned Wednesday to expect a decline in demand in the current six months after a drop in profit in the last three months of 2022 amid pressure on consumer spending in the U.S. and Europe. +* Moderna gained 2.5% in after-hours trading after the company announced Wednesday that its experimental skin cancer vaccine combined with Merck& Co's Keytruda now has "breakthrough therapy" status as designated by U.S. regulators. +* Bank of America (BofA) set aside $1.2 billion for litigation and fine settlements last year, compared with $164 million in 2021, a regulatory filing on Wednesday shows. +* Wells Fargo laid off hundreds of mortgage bankers this week as part of its recent strategic plan, CNBC reported Wednesday, citing sources familiar with the matter. +* Bumble is up nearly 2 percent in premarket trading after announcing that it expects revenue growth this year of 16 percent to 19 percent, a rate higher than the market expected. +* NetApp falls 5% in after-hours trading after reporting adjusted fourth-quarter earnings per share below Wall Street expectations. +* Lucid Group plunges 10% in after-hours trading as the electric vehicle maker reports quarterly revenue below the Refinitiv consensus. +  +Analyst recommendations: + +BP Plc: Berenberg downgrades from buy to hold, targeting GBp 590. +CarMax: Truist Securities reinstated coverage with a recommendation of hold. PT set to $66, implies a 5% decrease from last price. +Centene:  J.P. Morgan downgrades to neutral from overweight. PT up 25% to $90. +Experian: Bank of America raised its price target to 39.00 pounds sterling from 37.00 pounds and maintained its buy rating +Intel: Morgan Stanley upgrades to equal-weight from underweight. PT up 9.9% to $28. +Repligen: KeyBanc Capital Markets cut the target to $240 from $260. Maintains overweight rating. +Rio Tinto: JP Morgan maintains its advice to sell. The target price is slightly modified from 5380 to 5500 GBp. +Roper: Wolfe Research upgrades to outperform from peerperform. PT up 14% to $480. +Walgreens Boots:  Loop Capital Markets initiated coverage with a recommendation of buy. PT set to $45. + +  diff --git a/news/EBAY/2023.02.23/S&P, Dow dip as resilient economic data stokes fears of rate hikes.txt b/news/EBAY/2023.02.23/S&P, Dow dip as resilient economic data stokes fears of rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..2f81aa031837d613a02c671ba3b5488801cfda01 --- /dev/null +++ b/news/EBAY/2023.02.23/S&P, Dow dip as resilient economic data stokes fears of rate hikes.txt @@ -0,0 +1,49 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia hits 10-month high on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4*Indexes: Dow down 0.3%, S&P dips 0.02%, Nasdaq up 0.06%Feb 23 (Reuters) -Wall Street was mostly lower in choppy trading on Thursday, +with the S&P 500 on track for a fifth straight daily decline and +the Dow Jones Industrial Average down too, as investors remained +wary of further interest rate hikes due to recent strong U.S. +economic data.On a topsy-turvy day, the tech-heavy Nasdaq was up slightly, +retreating from a session high earlier of more than 1%. Megacap +stocks were mixed, with Tesla Inc up and Amazon.com Inc +lower.Stock markets have been volatile this month, with the S&P +500 shedding more than 4% in the past six sessions, as data +pointing to a strong economy and hawkish commentary by Fed +officials dented appetite for risky assets.The Labor Department said the number of Americans filing new +claims for unemployment benefits unexpectedly fell last week, +reflecting tight labor market conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though rising inventory levels were responsible +for much of the increase.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."Any incremental piece of economic data builds the narrative +of the bears in the market that the rally so far is a false +euphoria, and this is weighing on the market more than the good +news from some of these earnings," said Peter Andersen, founder +of Andersen Capital Management.Analysts polled by Reuters predicted a correction within the +next three months even though they expect the S&P 500 to +climb 5% by year-end.Right now, the S&P is testing both the 50-day moving average +at 3,980 points and the 200-day moving average at 3,940.Nvidia Corp surged 14.2% to the highest in more +than 10 months after the company forecast quarterly sales above +estimates and reported a surge in the use of its chips to power +artificial intelligence services.Other chipmakers also gained, including Broadcom Inc +up 0.4% and Qualcomm Inc rising 0.8%. The +Philadelphia SE Semiconductor index climbed 2.5%.At 2.06 p.m. ET, the Dow Jones Industrial Average +fell 97.71 points, or 0.3%, to 32,947.38, the S&P 500 +lost 0.92 points, or 0.02%, to 3,990.13 and the Nasdaq Composite +added 6.36 points, or 0.06%, to 11,513.43.Eight of the 11 major S&P 500 sectors declined, with +communication services dropping 1.1%, hurt by a 3.8% +fall in Netflix Inc on reports that the streaming +service was cutting subscription prices in 30 countries.The communication services index was on course for its fifth +straight decline, which would be its biggest since another +five-loss streak in October.Energy was one of the few gainers, rising 1.3% +on the back of higher crude prices. Should the index +advance hold, it would halt a losing run at seven, tying its +worst stretch since an eight-session skid in March 2017.Among other stocks, eBay Inc slid 5.8% after +warning of dour demand in the first half of 2023 due to strained +consumer spending in the United States and Europe.Moderna Inc fell 8.4% after the vaccine maker +reaffirmed its annual sales forecast of $5 billion for its +COVID-19 vaccines despite its fourth-quarter sales exceeding +estimates. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Editing by Savio D'Souza, Arun +Koyyur, Anil D'Silva and David Gregorio) \ No newline at end of file diff --git a/news/EBAY/2023.02.23/Wall St ends topsy-turvy day higher, S&P snaps losing streak.txt b/news/EBAY/2023.02.23/Wall St ends topsy-turvy day higher, S&P snaps losing streak.txt new file mode 100644 index 0000000000000000000000000000000000000000..ed6da973efb218d467515d17c24641f2e8da5f5c --- /dev/null +++ b/news/EBAY/2023.02.23/Wall St ends topsy-turvy day higher, S&P snaps losing streak.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia jumps on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4Feb 23 (Reuters) -The main Wall Street benchmarks closed a topsy-turvy +Thursday in positive territory, with the S&P 500 snapping a +four-session losing streak, as investors grappled with how +interest rate policy might affect the U.S. economy.Stock markets have been volatile this year, pulling back in +February after a strong January as investors try to figure out +what the U.S. Federal Reserve will do with interest rates. +Hawkish comments from policymakers have been interspersed with +data pointing to a strong American economy.On Thursday, the Labor Department said the number of +Americans filing new claims for unemployment benefits +unexpectedly fell last week, reflecting tight labor market +conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though rising inventory levels were responsible +for much of the increase.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."If you're a bull, you can pull out plenty of things that +are supportive, and if you're bear there are plenty of things to +point to that are supportive," said Jack Janasiewicz, lead +portfolio strategist at Natixis Investment Managers Solutions."There are so many cross currents that are moving in +very different directions, I think it's very difficult to fall +back on one or two things. That's creating a lot of +hand-wringing uncertainty, and we're range-trading as a result +of it."For part of the day, the S&P was trading below its 50-day +moving average of 3,980 points, before rallying in the +afternoon.Influencing this intraday dip werelarge trades in short-dated derivativesthat piled selling pressure on the market, according to +Nomura strategist Charlie McElligott.Helping provide confidence to buyers was positive +earnings fromNvidia Corp, which surged after forecasting +quarterly sales above estimates and reporting a surge in the use +of its chips to power artificial intelligence services.Other chipmakers also gained, including Broadcom Inc +and Qualcomm Inc. The Philadelphia SE +Semiconductor index climbed.According to preliminary data, the S&P 500 +gained 21.09 points, or 0.53%, to end at 4,012.14 points, +while the Nasdaq Composite gained 83.26 points, or +0.72%, to 11,590.33. The Dow Jones Industrial Average +rose 113.99 points, or 0.34%, to 33,159.08.Many of the 11 major S&P 500 sectors rose. Higher crude +prices pushed energy to be one of the biggest gainers on +the day, and also helped the index halt a losing run at seven. +This tied its worst stretch since an eight-session skid in March +2017.Among the fallers was communication services, +which recorded its fifth straight decline, matching another +five-loss streak in October. It was weighed by Netflix Inc +, which slipped on reports that the streaming service +was cutting subscription prices in 30 countries.Among other stocks, eBay Inc slid after warning of +dour demand in the first half of 2023 due to strained consumer +spending in the United States and Europe.Moderna Inc fell after the vaccine maker reaffirmed +its annual sales forecast of $5 billion for its COVID-19 +vaccines despite its fourth-quarter sales exceeding estimates.However, Bumble Inc jumped. The owner of the +eponymous dating app projected annual revenue growth above +market estimates on optimism over rising paying users. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Editing by Savio D'Souza, Arun +Koyyur, Anil D'Silva and David Gregorio) \ No newline at end of file diff --git a/news/EBAY/2023.02.23/Wall St finishes topsy-turvy day higher, S&P snaps losing run.txt b/news/EBAY/2023.02.23/Wall St finishes topsy-turvy day higher, S&P snaps losing run.txt new file mode 100644 index 0000000000000000000000000000000000000000..7c755019d05300e5cc7368c20f195feb565742d6 --- /dev/null +++ b/news/EBAY/2023.02.23/Wall St finishes topsy-turvy day higher, S&P snaps losing run.txt @@ -0,0 +1,56 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia hits 10-month high on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4*Intraday dip fueled by short-dated derivatives trades - +Nomura*Indexes up: Dow 0.33%, S&P 0.53%, Nasdaq 0.72%Feb 23 (Reuters) -Wall Street ended a topsy-turvy Thursday in positive +territory, with the S&P 500 snapping a four-session losing +streak, as investors grappled with how interest rate policy +might affect the U.S. economy.Stock markets have been volatile this year, pulling back in +February after a strong January as investors tried to figure out +what the U.S. Federal Reserve will do with interest rates. +Hawkish comments from policymakers have been interspersed with +data pointing to a strong American economy.On Thursday, the Labor Department said the number of +Americans filing new claims for unemployment benefits +unexpectedly fell last week, reflecting tight labor market +conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though rising inventory levels were responsible +for much of the increase.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."If you're a bull, you can pull out plenty of things that +are supportive, and if you're bear there are plenty of things to +point to that are supportive," said Jack Janasiewicz, lead +portfolio strategist at Natixis Investment Managers Solutions."There are so many cross currents that are moving in very +different directions, I think it's very difficult to fall back +on one or two things. That's creating a lot of hand-wringing +uncertainty, and we're range-trading as a result of it."For part of the day, the S&P was trading below its 50-day +moving average of 3,980 points, before rallying in the afternoon +to finish above 4,000 points for the first time this week.Influencing this intraday dip were large trades in +short-dated derivatives that piled selling pressure on the +market, according to Nomura strategist Charlie McElligott.Helping provide confidence to buyers, Nvidia Corp +posted positive earnings and surged 14% after forecasting +quarterly sales above estimates and reporting a surge in the use +of its chips to power artificial intelligence services.Other chipmakers also gained, with Broadcom Inc, +Intel Corp and Qualcomm Inc rising between +0.6% and 1.8%. The Philadelphia SE Semiconductor index +climbed 3.3%.The Dow Jones Industrial Average rose 108.82 points, +or 0.33%, to 33,153.91, the S&P 500 gained 21.27 points, +or 0.53%, to 4,012.32 and the Nasdaq Composite added +83.33 points, or 0.72%, to 11,590.40.Seven of the 11 major S&P 500 sectors rose. Higher crude +prices pushed energy up 1.3%, and the index halted a +losing run at seven. This tied its biggest stretch of declines +since an eight-session skid in March 2017.Communication services was the biggest decliner, +dropping 0.7%. This was its fifth straight fall, matching +another five-loss streak in October. It was weighed by Netflix +Inc, which slipped 3.4% on reports the streaming +service was cutting subscription prices in 30 countries.Among other stocks, eBay Inc recorded its biggest +daily drop since Sept. 13, sliding 5.2%, after warning of dour +demand in the first half.Moderna Inc fell 6.7%, to its lower close since +Nov. 3, after the vaccine maker reaffirmed its annual sales +forecast of $5 billion for its COVID-19 vaccines despite its +fourth-quarter sales exceeding estimates.However, Bumble Inc jumped 7.5%. The owner of the +eponymous dating app projected annual revenue growth above +market estimates on optimism over rising paying users.Volume on U.S. exchanges was 10.43 billion shares, compared +with the 11.59 billion average for the full session over the +last 20 trading days.The S&P 500 posted 7 new 52-week highs and 3 new lows; +the Nasdaq Composite recorded 59 new highs and 128 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru +and David French in New York; Editing by Savio D'Souza, Arun +Koyyur, Anil D'Silva and David Gregorio) \ No newline at end of file diff --git a/news/EBAY/2023.02.23/Wall Street falls as rate worries outweigh Nvidia cheer.txt b/news/EBAY/2023.02.23/Wall Street falls as rate worries outweigh Nvidia cheer.txt new file mode 100644 index 0000000000000000000000000000000000000000..c8e353b92d4f8ccc7076d9255f05f3dfa4015d6f --- /dev/null +++ b/news/EBAY/2023.02.23/Wall Street falls as rate worries outweigh Nvidia cheer.txt @@ -0,0 +1,44 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nvidia hits 10-month high on upbeat sales forecast*Netflix slips on price cuts report*Weekly jobless claims fall; GDP grows 2.7% in Q4*Indexes down: Dow 0.59%, S&P 0.34%, Nasdaq 0.36%Feb 23 (Reuters) - U.S. stock indexes slipped on +Thursday as investors worried that a resilient economy would +give the Federal Reserve more room to raise interest rates, +although a surge in Nvidia shares helped lift some of that +gloom.Stock markets have hit a volatile patch this month, with +the S&P 500 shedding more than 4% in the past six sessions, as +data pointing to a strong economy and hawkish commentary by Fed +officials dent appetite for risky assets.The Labor Department said the number of Americans filing +new claims for unemployment benefits unexpectedly fell last +week, reflecting tight labor market conditions.A separate report confirmed the economy grew solidly in the +fourth quarter, though much of the increase in output came from +rising inventory levels at businesses.U.S. gross domestic product increased 2.7% in the fourth +quarter, according to the government's second estimate. +Economists were forecasting a 2.9% rise."Any incremental piece of economic data builds the +narrative of the bears in the market that the rally so far is a +false euphoria, and this is weighing on the market more than the +good news from some of these earnings," said Peter Andersen, +founder of Andersen Capital Management.Analysts polled by Reuters predict a correction within +the next three months even though they expect the S&P 500 +to climb 5% by year-end.The tech-heavy Nasdaq slipped after rising more than 1% +earlier in session, as megacap stocks including Apple +and Amazon.com Inc fell.Nvidia Corp surged 13.3% to a more than 10-month +high after the company forecast quarterly sales above estimates +and reported a surge in the use of its chips to power artificial +intelligence services.Other chipmakers such as Broadcom Inc, Qualcomm +Inc and Intel Corp rose between 0.2% and 2.6%. +The Philadelphia SE Semiconductor index climbed 1.8%.At 12:34 p.m. ET, the Dow Jones Industrial Average +was down 195.20 points, or 0.59%, at 32,849.89, the S&P 500 +was down 13.44 points, or 0.34%, at 3,977.61, and the +Nasdaq Composite was down 41.84 points, or 0.36%, at +11,465.23.Nine of the 11 major S&P 500 sectors declined, with +communication services dropping 1.5%, hurt by a 5.7% +fall in Netflix Inc on reports that the streaming +service was cutting subscription prices in 30 countries.Among other stocks, eBay Inc slid 7.2% after +warning of dour demand in the first half of 2023 due to strained +consumer spending in the United States and Europe.Moderna Inc fell 8.4% after the vaccine maker +reaffirmed its annual sales forecast of $5 billion for its +COVID-19 vaccines despite its fourth-quarter sales exceeding +estimates.Declining issues outnumbered advancers for a 1.28-to-1 +ratio on the NYSE and a 1.45-to-1 ratio on the Nasdaq.The S&P index recorded seven new 52-week highs and three new +lows, while the Nasdaq recorded 40 new highs and 102 new lows. +(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; +Editing by Savio D'Souza, Arun Koyyur and Anil D'Silva) \ No newline at end of file diff --git a/news/ENPH/2023.01.05/Enphase Energy Expands IQ8 Microinverter Deployments in Arizona.txt b/news/ENPH/2023.01.05/Enphase Energy Expands IQ8 Microinverter Deployments in Arizona.txt new file mode 100644 index 0000000000000000000000000000000000000000..bf8d6474e19a85a606d8a4a00b6207c681015cde --- /dev/null +++ b/news/ENPH/2023.01.05/Enphase Energy Expands IQ8 Microinverter Deployments in Arizona.txt @@ -0,0 +1 @@ +FREMONT, Calif., Jan. 05, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today that installers of Enphase® products in Arizona have seen growing deployments of Enphase Energy Systems™ powered by IQ8™ Microinverters.According to the U.S. Solar Market Insight report from Wood Mackenzie and the Solar Energy Industries Association, residential solar deployments in Arizona have been growing year-over-year and are forecasted to reach 206 MW in 2023, representing a 20 percent increase over the previous year. Additionally, residential battery deployments in Arizona are expected to nearly quadruple by the end of 2026, according to the most recent U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie.“Arizona homeowners and businesses are increasingly turning to solar power to keep their electricity bills under control as power prices continue to rise,” said Chad Waits, owner at Net Zero Solar, an Enphase Platinum level installer. “With a shared passion for clean energy, quality, value, and customer service, we’re proud to partner with Enphase to offer the IQ8-powered Enphase Energy System to our customers.”"We believe that our customers are the center of our universe and that is why we are proud to provide them with access to the industry-leading IQ8 microinverters from Enphase,” said Caleb Antonucci, chief executive officer at Our World Energy, an Enphase Gold level installer. “This cutting-edge technology helps Arizona homeowners gain access to clean energy, so they can feel good about doing their part to make the world a better, greener place.  We are committed to helping Arizona homeowners harness the power of clean energy and make the most of their unique needs.”Enphase’s revolutionary IQ8-based systems can provide Sunlight Backup™ functionality during an outage even without a battery. For homeowners who want battery backup, there are no sizing restrictions when pairing Enphase IQ™ Batteries with IQ8 Microinverters. With the Sunlight Jump Start™ feature, IQ8 Microinverters can restart a home energy system using only sunlight after a prolonged grid outage that drains the battery. This eliminates the need for a manual restart of the system and gives homeowners greater assurance of energy resilience. Enphase IQ8 solar microinverters are built to last and come with a 25-year limited warranty.“We value Enphase’s approach to product quality and reliability, which ensures Arizona homeowners and businesses get the maximum value from their solar systems,” said John Hamilton, owner of Sun Services USA, an Enphase Silver level installer. “The IQ8 Microinverter is a leading smart energy solution and when paired with the Enphase App, homeowners get transparency into system performance to make the most of each ray of sunshine captured.”“Enphase Energy Systems feature state-of-the-art technology that delivers unmatched performance and resilience,” said Dan King, chief operating officer at Harmon Solar. “Enphase’s modular microinverter design makes for a highly customizable system to meet varying levels of energy needs for customers and can be modified over time to meet future needs.”“Arizona’s sunshine makes solar solutions an easy choice for homeowners looking to take control of their energy needs,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “We’re pleased to work with leading installers across the state to deliver our best-in-class products and services, and help homeowners realize the value they can achieve from solar and home energy management solutions.”For more information about Enphase IQ8 Microinverters and IQ Batteries, please visit the Enphase website.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 52 million microinverters, and over 2.7 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.© 2022 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, IQ8, Enphase Energy System, Sunlight Backup, Sunlight Jump Start, Enphase App, and certain other names and marks are trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Forward-Looking StatementsThis press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; the availability and market adoption of Enphase products; growth in deployments of Enphase Energy Systems; and growth in Arizona of residential solar deployments and deployments of residential battery capacity. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, its Annual Report on Form 10-K for the year ended December 31, 2021 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://www.sec.gov/. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.Contact:Enphase Energy press@enphaseenergy.com 2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ENPH/2023.01.09/Enphase Energy Expands IQ8 Microinverter Deployments in New Hampshire.txt b/news/ENPH/2023.01.09/Enphase Energy Expands IQ8 Microinverter Deployments in New Hampshire.txt new file mode 100644 index 0000000000000000000000000000000000000000..f2bcd2d1508516571c9bf69cde8b427755b20ec6 --- /dev/null +++ b/news/ENPH/2023.01.09/Enphase Energy Expands IQ8 Microinverter Deployments in New Hampshire.txt @@ -0,0 +1 @@ +FREMONT, Calif., Jan. 09, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today that installers of Enphase® products in New Hampshire have seen growing deployments of Enphase Energy Systems™ powered by IQ8™ Microinverters.According to the U.S. Solar Market Insight report from Wood Mackenzie and the Solar Energy Industries Association, residential solar deployments in New Hampshire are forecasted to reach approximately 22 MW in 2023, representing a 20 percent increase over the previous year. Additionally, residential battery deployments in New Hampshire are expected to more than double by 2026, according to the most recent U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie.“New Hampshire residents are increasingly looking for ways to increase their energy independence,” said Paul Lesure, president at Granite State Solar, an Enphase Platinum level installer. “We have been installing Enphase microinverters for several years and our customers love the level of insight they get from the production monitoring. We’re excited to see this legacy of industry-leading performance and reliability roll out with the IQ8.”Enphase’s revolutionary IQ8-based systems can provide Sunlight Backup™ functionality during an outage even without a battery. For homeowners who want battery backup, there are no sizing restrictions when pairing Enphase IQ™ Batteries with IQ8 Microinverters. With the Sunlight Jump Start™ feature, IQ8 Microinverters can restart a home energy system using only sunlight after a prolonged grid outage that drains the battery. This eliminates the need for a manual restart of the system and gives homeowners greater assurance of energy resilience. Enphase IQ8 solar microinverters are built to last and come with a 25-year limited warranty.“We’re seeing strong demand for Enphase’s IQ8 Microinverters among homeowners who want to tap into New Hampshire’s solar energy resources,” said Scot Johnson, co-founder at 603 Solar, an Enphase Gold level installer. “We share a dedication with Enphase to offer homeowners products and services that provide solar energy, with or without a battery.”“We’re proud to offer Enphase’s industry-leading products and services to our customers,” said Rob Raffa, sales manager at Sunergy Solutions. “The IQ8 Microinverter offers unmatched reliability and comes with a leading 25-year warranty. Enphase products also give our customers the ultimate flexibility to build truly personalized home energy systems, allowing them to scale up over time as their electricity needs grow.”“Due to rising energy costs, homeowners in New Hampshire are increasingly interested in residential solar solutions as a way to save on their electric bills,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “We’re proud to work with our installer partners in the state to deliver industry-leading clean energy solutions that can adapt as household energy needs evolve.”For more information about Enphase IQ8 Microinverters and IQ Batteries, please visit the Enphase website.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 52 million microinverters, and over 2.7 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.© 2023 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, IQ8, Enphase Energy Systems, Sunlight Backup, Sunlight Jump Start, and certain other names and marks are trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Forward-Looking StatementsThis press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; the availability and market adoption of Enphase products; growth in deployments of Enphase Energy Systems; and growth in New Hampshire of residential solar deployments and deployments of residential battery capacity. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, its Annual Report on Form 10-K for the year ended December 31, 2021 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://www.sec.gov/. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.Contact:Enphase Energy press@enphaseenergy.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ENPH/2023.01.12/Enphase Energy Expands IQ8 Microinverter Deployments in Puerto Rico.txt b/news/ENPH/2023.01.12/Enphase Energy Expands IQ8 Microinverter Deployments in Puerto Rico.txt new file mode 100644 index 0000000000000000000000000000000000000000..cdf15bac38eb262f02b459374d2a8ec7101244df --- /dev/null +++ b/news/ENPH/2023.01.12/Enphase Energy Expands IQ8 Microinverter Deployments in Puerto Rico.txt @@ -0,0 +1 @@ +FREMONT, Calif., Jan. 12, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today that installers of Enphase® products in Puerto Rico have seen growing deployments of Enphase Energy Systems™ powered by IQ8™ Microinverters.According to the U.S. Solar Market Insight report from Wood Mackenzie and the Solar Energy Industries Association, residential solar deployments in Puerto Rico are forecast to reach over 170 MW in 2023, representing a 300 percent increase over the past three years. Residential battery deployments in Puerto Rico are also expected to grow, with forecasts for battery capacity to approximately double by 2026, according to the most recent U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie.“For our customers in Puerto Rico who have experienced more frequent and powerful hurricanes, backup power is a critical asset for their homes and businesses,” said Jose Carlos Albiñana, president of Solar Technology LLC. “We’re proud to offer Enphase Energy Systems, featuring safe, reliable, and high-performing IQ8 Microinverter-based technology, so that homeowners can power their homes with clean energy.”“Our goal is to provide our customers with high-quality home energy management solutions,” said Alejandro Uriarte, founder at reSOLient LLC. “IQ8 Microinverters adhere to the highest engineering standards, enabling our customers to feel confident their home energy systems can provide energy reliability and greater grid independence.”Enphase’s revolutionary IQ8-based systems can provide Sunlight Backup™ functionality during an outage even without a battery. For homeowners who want battery backup, there are no sizing restrictions when pairing Enphase IQ™ Batteries with IQ8 Microinverters. With the Sunlight Jump Start™ feature, IQ8 Microinverters can restart a home energy system using only sunlight after a prolonged grid outage that drains the battery. This eliminates the need for a manual restart of the system and gives homeowners greater assurance of energy resilience. Enphase IQ8 solar microinverters are built to last and come with a 25-year limited warranty.“Enphase Energy Systems provide energy security for Puerto Rican homeowners by reducing their reliance on the grid,” said Reynaldo Miranda Ruiz, president at Evolution Solar. “The industry-leading IQ8 Microinverters not only enable battery backup during a power outage, but also help homeowners better manage their electric bills.”“The IQ8-powered Enphase Energy System makes it easy to power homes and businesses with reliable clean energy,” said Edwin Berrio, chief executive officer at Abba Power Solutions. “Our customers can monitor and manage their system’s performance in real-time and optimize energy usage to better meet their changing needs.”“Power grids in Puerto Rico have been susceptible to damage from severe weather and hurricanes,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “We are proud to work with leading installers in the region to help them grow their businesses and better serve their customers by making their clean energy goals a reality with our industry-leading products and services.”For more information about Enphase IQ8 Microinverters and IQ Batteries, please visit the Enphase website.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 52 million microinverters, and over 2.7 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.© 2023 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, IQ8, Enphase Energy Systems, Sunlight Backup, IQ Batteries, Sunlight Jump Start, and certain other names and marks are trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Forward-Looking StatementsThis press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; the availability and market adoption of Enphase products; growth in deployments of Enphase Energy Systems; and growth in Puerto Rico of residential solar deployments and deployments of residential battery capacity. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, its Annual Report on Form 10-K for the year ended December 31, 2021 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://www.sec.gov/. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.Contact:Enphase Energy press@enphaseenergy.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ENPH/2023.01.17/Enphase Energy Expands IQ8 Microinverter Deployments in the Netherlands.txt b/news/ENPH/2023.01.17/Enphase Energy Expands IQ8 Microinverter Deployments in the Netherlands.txt new file mode 100644 index 0000000000000000000000000000000000000000..852bdda86ec0038f1821f4424abc4a1d8064cbc2 --- /dev/null +++ b/news/ENPH/2023.01.17/Enphase Energy Expands IQ8 Microinverter Deployments in the Netherlands.txt @@ -0,0 +1 @@ +FREMONT, Calif., Jan. 17, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, today announced that installers of Enphase® products in the Netherlands have seen an increase in deployments of residential solar energy systems powered by IQ8™ Microinverters, following the product’s expansion to international markets in November 2022.IQ8 Microinverters are the smartest, most powerful Enphase microinverters yet, with a 97.2 percent efficiency score based on European Union efficiency standards. IQ8 Microinverters are designed to match the latest generation of high output solar modules, delivering superior reliability, safety, and quality for residential solar systems. The IQ8 family of products offered in the Netherlands includes two types of software-defined microinverters, IQ8M™ and IQ8+™, which feature a peak output AC power of 330VA and 300VA, respectively. The microinverters are designed to seamlessly pair with a full range of solar modules up to 480W DC and come with a 25-year limited warranty.“Rising energy costs continue to motivate homeowners in the Netherlands to make the switch to solar energy,” said Luc Janssen, director-owner at Saluma Solar B.V., an Enphase Silver level installer. “IQ8 Microinverters unlock exceptional solar panel performance so that homeowners can reduce their reliance on the grid and maximize their energy savings.”“IQ8 Microinverters are engineered to perform and built to last,” said Stefan Bezuijen, director at Zonnepanelen Zuid Nederland B.V., an Enphase Silver level installer. “IQ8 Microinverters leverage Enphase’s industry-leading modular design, offering homeowners both reliability and scalability, even for the most complex roof designs.”“Solar energy systems powered by IQ8 Microinverters are providing clean, reliable energy to homeowners across the Netherlands,” said Willem Tolsma, director at Thermo Energie Heiloo, an Enphase Silver level installer. “Our customers also enjoy the ability to monitor their systems and track the energy production.”Enphase microinverter systems integrate with the IQ™ Gateway, which when connected to the internet, connects Enphase-based solar systems to the Enphase® App monitoring platform and helps make per-panel energy monitoring and insights for operations and maintenance easy.“Enphase is a global leader in home energy management technology, and the IQ8 Microinverter is yet another shining example of its solar innovation,” said Leon Vermeule, owner at Flexizon, an Enphase Silver level installer. “We share Enphase’s dedication to providing homeowners with superior products and customer service.”“Our rapid growth in the Netherlands is largely due to our network of dedicated installer partners in the region who deeply understand the benefits of our technology and how it meets their customers’ needs,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “As demand for solar in the Netherlands continues to increase, we’re committed to helping the country reach its clean energy goals with best-in-class products and services for homeowners.”For more information on Enphase Energy in the Netherlands, please visit the website.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 52 million microinverters, and over 2.7 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.© 2023 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ8, IQ8M, IQ8+, IQ Gateway, Enphase App, and certain other names and marks are trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Forward-Looking StatementsThis press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; the availability and market adoption of Enphase products; and growth in deployments of products in the Netherlands of residential solar deployments and deployments of residential battery capacity. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, its Annual Report on Form 10-K for the year ended December 31, 2021 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://www.sec.gov/. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.Contact:Enphase Energy press@enphaseenergy.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ENPH/2023.01.24/Enphase Energy Announces Conference : 30 p.m. Eastern Time.txt b/news/ENPH/2023.01.24/Enphase Energy Announces Conference : 30 p.m. Eastern Time.txt new file mode 100644 index 0000000000000000000000000000000000000000..68ee1121aaa7232f7a595f554bf88270129407c2 --- /dev/null +++ b/news/ENPH/2023.01.24/Enphase Energy Announces Conference : 30 p.m. Eastern Time.txt @@ -0,0 +1 @@ +FREMONT, Calif., Jan. 24, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today that it will host a conference call and webcast on Tuesday, Feb. 7, 2023 at 4:30 p.m. Eastern Time to discuss its fourth quarter and full year 2022 financial results for the period ended Dec. 31, 2022. The live webcast can be accessed on the Enphase Energy Investor Relations website at investor.enphase.com, and a recorded version of the call will also be available there approximately one hour after the call.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 52 million microinverters, and over 2.7 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.© 2023 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, and certain other names and marks are registered trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Contact:Karen SagotEnphase Energy, Inc.Investor Relationsir@enphaseenergy.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ENPH/2023.01.26/Enphase Energy and Enerix to Expand Solar and Battery Storage Product Offerings in Euro...txt b/news/ENPH/2023.01.26/Enphase Energy and Enerix to Expand Solar and Battery Storage Product Offerings in Euro...txt new file mode 100644 index 0000000000000000000000000000000000000000..6fb48fc68a79ded49f14c7e1b467e95560d2d5af --- /dev/null +++ b/news/ENPH/2023.01.26/Enphase Energy and Enerix to Expand Solar and Battery Storage Product Offerings in Euro...txt @@ -0,0 +1 @@ +FREMONT, Calif., Jan. 26, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today a partnership with Enerix, Germany’s leading network of specialist companies for decentralized energy systems, to expand Enphase® product offerings in Europe. Through this partnership, Enerix will offer Enphase Energy Systems™, powered by IQ® Microinverters and IQ™ Batteries, to its network of more than 100 franchise partners across Germany and Austria."We rely on innovative manufacturers in the premium segment who can guarantee a high level of product availability in order for us to successfully continue our growth," said Stefan Jakob, co-founder of Enerix. "We are happy to partner with Enphase as the company meets our criteria and fits perfectly into our portfolio, enabling us to deliver on our promise to reduce electricity costs for homeowners."Enerix is one of the first franchise organizations within the renewable energy sector in Europe. The company provides services such as training, purchasing, and marketing for new franchise members to allow individuals and companies to quickly enter the industry and provide strong results. Enerix has more than 100 franchise partners in Germany and Austria and installed more than 10,000 solar systems in 2022."In order to accelerate the expansion of renewable energy in Germany and Austria, we aim to work with leading companies that focus on technology differentiation, quality, and value," said Dave Ranhoff, chief commercial officer at Enphase Energy. "We are proud to partner with Enerix as it is committed to providing an exceptional customer experience and offering world-class products and services."Enphase delivers an enhanced solar-plus-battery solution which does not expose installers or homeowners to high-voltage DC. Enphase IQ Batteries feature Lithium Iron Phosphate (LFP) battery chemistry, which provides a long cycle life and smooth operation through excellent thermal stability. Enphase IQ Batteries accommodate over-the-air software upgrades for enhanced longevity and come with a 10-year limited warranty. Enphase’s IQ Microinverters are designed to be long-lasting energy assets and are backed by a 25-year limited warranty. Homeowners can also use the Enphase® App to monitor performance and intelligently manage their system.Enphase is rapidly expanding its presence in Europe. Starting in the first quarter of 2023, the company’s expanded manufacturing capacity with its partner Flex in Romania will supply Enphase’s industry-leading microinverters to the European market, increasing global capacity and improving delivery times.For more information about Enphase IQ Microinverters and IQ Batteries, please visit the Enphase website. To learn more about Enerix and its franchise partners, please visit the Enerix website.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 52 million microinverters, and over 2.7 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.© 2023 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, Enphase Energy Systems, IQ, IQ Batteries, Enphase App, and certain other names and marks are trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Forward-Looking StatementsThis press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; the availability and market adoption of Enphase products; growth in deployments of Enphase Energy Systems; and growth of residential solar deployments and deployments of residential battery capacity. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, its Annual Report on Form 10-K for the year ended December 31, 2021 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://www.sec.gov/. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.Contact:Enphase Energy press@enphaseenergy.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ENPH/2023.01.30/Enphase Energy Expands Solar Deployments in Brazil.txt b/news/ENPH/2023.01.30/Enphase Energy Expands Solar Deployments in Brazil.txt new file mode 100644 index 0000000000000000000000000000000000000000..f4946479009ee59041d647632435505e7596e744 --- /dev/null +++ b/news/ENPH/2023.01.30/Enphase Energy Expands Solar Deployments in Brazil.txt @@ -0,0 +1 @@ +FREMONT, Calif., Jan. 30, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, today announced that installers of Enphase® products in Brazil have seen a significant increase in deployments of residential solar energy systems powered by IQ7+™ and IQ7AM™ Microinverters.According to the Brazilian Association of Photovoltaic Solar Energy (Absolar), Brazil is expected to add more than 10 GW of solar generation capacity in 2023, representing a 52 percent increase to the country’s current solar generation capacity. A majority of this growth has been attributed to distributed generation systems, including those for residential and business applications.IQ7+ and IQ7AM Microinverters leverage Enphase’s unique software-defined architecture and semiconductor integration for excellent reliability and economies of scale. Enphase microinverters are subjected to a rigorous reliability and quality testing regimen with more than one million hours of power-on testing to ensure exceptional performance under heat, high humidity, salty air, extreme cold, and harsh climate conditions. The company’s microinverters are backed by a 20-year warranty in Brazil.“Solar installers in Brazil are looking to provide their customers with the highest-quality, safest, and most reliable products,” said Maykow Torres, chief executive officer at Fortlev Solar, an Enphase distribution partner. “As the renewable energy market continues to grow in Brazil, we’re proud to support the distribution of Enphase microinverters, enabling installers to get the technology they need.”“Homeowners are the center of our business and we decided to work with the best solar products and industry-leading technology for the Brazilian market,” said Matheus Bazan, chief executive officer and founder at Solstar, an installer of Enphase products. “Enphase microinverters have a proven track record of yielding energy savings for homeowners, and we are able to offer the most advanced product and the best experience from installation to monitoring.”“Brazilian homeowners are increasingly looking to save on electricity costs and minimize their environmental footprint,” said Murilo Vidigal, project director at Mavo Engenharia, an installer of Enphase products. “The world-class Enphase microinverters are our top choice to offer our customers.”Enphase microinverter systems are outfitted with the IQ™ Gateway, which connects an Enphase-based solar system to the Enphase® App monitoring platform and helps make per-panel energy monitoring easy. This also enables homeowners to track both energy generation and consumption data to better understand their energy bills, as well as monitor insights to support the ongoing operations and maintenance of their systems.“Our customer base is growing as more people discover how affordable and easy it is to power their homes with clean energy,” said Bruno dos Santos, founder at EnergizaSun, an installer of Enphase products. “The Enphase solar system, powered by its leading microinverter-based technology, provides a safe, reliable, and highly efficient clean energy experience to meet a variety of needs.”“Since our introduction into the Brazilian market in 2021, we have grown our installer base to more than 500 – a testament to the rapidly growing demand for clean energy solutions in the country,” said Marco Krapels, vice president of international sales at Enphase Energy. “Thanks to our distributor and installer partners, we’re able to bring smart, safe, and efficient solar systems to homeowners and businesses across Brazil.”For more information on Enphase Energy in Brazil, please visit the website.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 52 million microinverters, and over 2.7 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.© 2023 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ7+, IQ7AM, IQ Gateway, Enphase App, and certain other names and marks are registered trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Forward-Looking StatementsThis press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; the availability and market adoption of Enphase products; growth in deployments of residential solar energy systems powered by IQ7+ and IQ7AM Microinverters; and growth in Brazil of solar generation capacity. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, its Annual Report on Form 10-K for the year ended December 31, 2021 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://www.sec.gov/. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.Contact:Enphase Energy press@enphaseenergy.com 2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ENPH/2023.02.02/Enphase Energy Demonstrates Bidirectional Electric Vehicle Charger Technology.txt b/news/ENPH/2023.02.02/Enphase Energy Demonstrates Bidirectional Electric Vehicle Charger Technology.txt new file mode 100644 index 0000000000000000000000000000000000000000..7700e1a052f5ad5522d0b10845aa6e48930a841b --- /dev/null +++ b/news/ENPH/2023.02.02/Enphase Energy Demonstrates Bidirectional Electric Vehicle Charger Technology.txt @@ -0,0 +1 @@ +FREMONT, Calif., Feb. 02, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today a successful demonstration of its bidirectional EV charger enabling vehicle-to-home (V2H) and vehicle-to-grid (V2G) functionality.This product will leverage the power of grid-forming IQ8™ Microinverters and Ensemble™ energy management technology to seamlessly integrate into Enphase® home energy systems. In addition, Enphase’s bidirectional EV charger is expected to work with most EVs that support standards such as CCS (Combined Charging System) and CHAdeMO (a Japanese charging standard). The video demonstration can be viewed at www.enphase.com/BidirectionalEVCharger.“The new bidirectional EV charger, along with Enphase’s solar and battery storage system, can be controlled from the Enphase App, empowering homeowners to make, use, save, and sell their own power,” said Raghu Belur, co-founder and chief products officer at Enphase Energy. "We are working with standards organizations, EV manufacturers, and regulators to bring this charger to market in 2024."In addition to charging an EV, Enphase’s bidirectional charger will support the following functionality:“The Enphase bidirectional EV charger is the next step on our roadmap to building a solar-powered, all-in-one home energy system that further unlocks electrification, resilience, savings, and control for homeowners,” said Mohammad Alkuran, Ph.D., senior director of systems engineering at Enphase Energy. “This product will be a game changer for homeowners who want maximum control over their energy usage.”Enphase is working with EV manufacturers to bring this revolutionary technology to market. For more information, please view the white paper at: www.enphase.com/BidirectionalEVCharger.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 52 million microinverters, and over 2.7 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.© 2023 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, Ensemble, Enphase Energy System, IQ, IQ8, IQ Batteries, and certain other names and marks are trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Forward-Looking StatementsThis press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; the availability and market adoption of Enphase products; ability for homeowners to manage all their energy resources from a single app; and potential benefits of Enphase’s bidirectional charger. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, its Annual Report on Form 10-K for the year ended December 31, 2021 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://www.sec.gov/. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.Contact:Enphase Energy press@enphaseenergy.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ENPH/2023.02.07/Enphase Energy Reports Financial Results for the Fourth Quarter of 2022.txt b/news/ENPH/2023.02.07/Enphase Energy Reports Financial Results for the Fourth Quarter of 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..7c6d645fc31a2793c489a209200ddd8de806c0d2 --- /dev/null +++ b/news/ENPH/2023.02.07/Enphase Energy Reports Financial Results for the Fourth Quarter of 2022.txt @@ -0,0 +1 @@ +FREMONT, Calif., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today financial results for the fourth quarter of 2022, which included the summary below from its President and CEO, Badri Kothandaraman.We reported record quarterly revenue of $724.7 million in the fourth quarter of 2022, along with 43.8% for non-GAAP gross margin. We shipped 4,873,702 microinverters, or approximately 1,952.4 megawatts DC, and 122.1 megawatt hours of Enphase® IQ™ Batteries.Financial highlights for the fourth quarter of 2022 are listed below:Our revenue and earnings for the fourth quarter of 2022 are provided below, compared with the prior quarter and the year ago quarter:(In thousands, except per share and percentage data)Our revenue and earnings for the fiscal year 2022 are provided below, compared with the prior year:(In thousands, except per share and percentage data)Total revenue for the fourth quarter of 2022 increased 14%, compared to the third quarter of 2022, driven by strong demand for Enphase Energy Systems™. Our revenue in the United States for the fourth quarter of 2022 increased approximately 15% and our revenue in Europe increased approximately 21%, compared to the third quarter of 2022. Our non-GAAP gross margin was 43.8% in the fourth quarter of 2022, compared to 42.9% in the third quarter of 2022, driven by IQ8™ Microinverter product mix.Our non-GAAP operating expenses were $87.7 million in the fourth quarter of 2022, compared to $78.6 million in the third quarter of 2022, primarily due to investment in international growth, customer service, and R&D. Our non-GAAP operating income was $229.4 million in the fourth quarter of 2022, compared to $194.0 million in the third quarter of 2022.We exited the fourth quarter of 2022 with $1.61 billion in cash, cash equivalents, and marketable securities and generated $253.7 million in cash flow from operations in the fourth quarter of 2022. Our capital expenditures were $16.4 million in the fourth quarter of 2022, compared to $8.9 million in the third quarter of 2022. The increase was primarily due to investment in additional contract manufacturing sites and R&D equipment.IQ8 Microinverters constituted approximately 55% of all our microinverter shipments during the fourth quarter of 2022. We introduced IQ8 Microinverters in France and the Netherlands in the fourth quarter of 2022, marking the first expansion into international markets for the product since its successful launch in North America in late 2021.Our IQ Battery shipments were 122.1 megawatt hours in the fourth quarter of 2022, compared to 133.6 megawatt hours in the third quarter of 2022. We made significant software upgrades to continue improving the installer and homeowner experience and brought commissioning times down. We shipped IQ Batteries to North America, Germany, and Belgium during the fourth quarter of 2022. We now have approximately 2,300 installers worldwide that are certified to install our IQ Batteries.We are adding additional manufacturing capacity in the United States due to the strong global demand for our products as well as the incentives related to the Inflation Reduction Act (IRA). We plan to begin domestic manufacturing in the second quarter of 2023 with a new contract manufacturing partner and in the second half of 2023 with our two existing contract manufacturing partners.We began manufacturing Enphase-branded electric vehicle (EV) chargers at our contract manufacturing facility in Mexico, helping us to increase capacity and reduce costs. We expect to introduce IQ smart EV chargers to customers in the United States in the first half of 2023. They will provide connectivity and control, enabling use cases like green charging and allowing homeowners visibility into the operation of their Enphase solar-plus-storage-plus-EV system through the Enphase® App.We continued to make progress on our installer platform. We made updates to Solargraf℠ software during the fourth quarter of 2022, incorporating battery design and proposal, document management, consumption modeling, and several other improvements requested by our installer partners. In addition, we made significant strides in automating the creation of permit plan sets with Solargraf software. We now have more than 1,000 installers using the software.BUSINESS HIGHLIGHTSOn. Oct. 11, 2022, Enphase Energy announced the closing of its acquisition of GreenCom Networks AG, a provider of Internet of Things (IoT) software solutions for customers, to connect and manage a wide range of distributed energy resources within the home such as solar inverters, batteries, EV chargers, and heat pumps.On Oct. 27, 2022, Enphase Energy announced that Infinity Energy, a leading California-based solar and battery installer, is expanding the adoption of Enphase Energy Systems powered by IQ8 Microinverters and IQ Batteries, as the demand for energy security grows nationwide.On Nov. 17, 2022, Enphase Energy announced that installers of Enphase Energy products in Belgium have seen growing deployments of Enphase Energy Systems powered by IQ® Microinverters and IQ Batteries.On Dec. 20, 2022, Pacific Gas and Electric Company and Enphase Energy announced they are launching a home battery energy storage program, with the use of Enphase IQ Batteries, to support vulnerable, low-income customers during power outages.On Jan. 30, 2023, Enphase Energy announced installers of Enphase products in Brazil have seen a significant increase in deployments of residential solar energy systems powered by IQ7+™ and IQ7AM™ Microinverters.On Feb. 2, 2023, Enphase Energy demonstrated its bidirectional EV charger technology enabling vehicle-to-home and vehicle-to-grid functionality, and along with Enphase’s solar and battery storage, can all be controlled from a single app, making it possible for homeowners to make, use, save, and sell their own power.Enphase Energy recently announced that installers in Puerto Rico, New Hampshire, Arizona, Colorado, Florida, Northern California, Oregon, North Carolina, Nevada, and Hawaii have seen growing deployments of Enphase Energy Systems powered by IQ8 Microinverters and IQ Batteries.FIRST QUARTER 2023 FINANCIAL OUTLOOKFor the first quarter of 2023, Enphase Energy estimates both GAAP and non-GAAP financial results as follows:Follow Enphase OnlineUse of Non-GAAP Financial MeasuresEnphase Energy has presented certain non-GAAP financial measures in this press release. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (GAAP). Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the accompanying tables to this press release. Non-GAAP financial measures presented by Enphase Energy include non-GAAP gross profit, gross margin, operating expenses, income from operations, net income, net income per share and free cash flow.These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. In addition, these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Enphase Energy’s results of operations as determined in accordance with GAAP. As such, these non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Enphase Energy uses these non-GAAP financial measures to analyze its operating performance and future prospects, develop internal budgets and financial goals, and to facilitate period-to-period comparisons. Enphase Energy believes that these non-GAAP financial measures reflect an additional way of viewing aspects of its operations that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting its business.As presented in the “Reconciliation of Non-GAAP Financial Measures” tables below, each of the non-GAAP financial measures excludes one or more of the following items for purposes of calculating non-GAAP financial measures to facilitate an evaluation of Enphase Energy’s current operating performance and a comparison to its past operating performance:Stock-based compensation expense. Enphase Energy excludes stock-based compensation expense from its non-GAAP measures primarily because they are non-cash in nature. Moreover, the impact of this expense is significantly affected by Enphase Energy’s stock price at the time of an award over which management has limited to no control.Acquisition related expenses and amortization. This item represents expenses incurred related to Enphase Energy’s business acquisitions, which are non-recurring in nature, and amortization of acquired intangible assets, which is a non-cash expense. Acquisition related expenses and amortization of acquired intangible assets are not reflective of Enphase Energy’s ongoing financial performance.Restructuring and asset impairment charges. Enphase Energy excludes restructuring and asset impairment related charges due to the nature of the expenses being unplanned and arising outside the ordinary course of continuing operations. These costs primarily consist of fees paid for cash-based severance costs and asset write-downs of property and equipment, and other contract termination costs resulting from restructuring initiatives.Non-cash interest expense. This item consists primarily of amortization of debt issuance costs and accretion of debt discount because these expenses do not represent a cash outflow for Enphase Energy except in the period the financing was secured and such amortization expense is not reflective of Enphase Energy’s ongoing financial performance.Loss on partial settlement of convertible notes. This item is reflected in other income (expense), net and represents (i) the difference between the carrying value and the fair value of the settled convertible notes and (ii) the inducement loss for the difference between the value of the shares issued to settle the convertible notes and the value of the shares that would have been issued under the original conversion terms with respect to the repurchased Notes due 2025, which is non-cash in nature and is not reflective of Enphase Energy’s ongoing financial performance.Non-GAAP income tax adjustment. This item represents the amount adjusted to Enphase Energy’s GAAP tax provision or benefit to report the non-GAAP tax amount based on cash tax expense and reserves for periods prior to 2023. Effective January 1, 2023, Enphase Energy updated its methodology of computing the non-GAAP income tax adjustment from reporting cash tax expense and reserves to the projected non-GAAP annualized effective tax rate as Enphase Energy utilized most of its net operating loss and tax credit carryforwards in the year ended December 31, 2022 and became a significant cash taxpayer in the United States. Going forward, Enphase Energy will exclude the income tax effects of GAAP adjustments such as stock-based compensation, amortization of purchased intangibles, and other non-recurring items that are not reflective of Enphase Energy ongoing financial performance.Free cash flow. This item represents net cash flows from operating activities plus deemed repayment of convertible notes attributable to accreted debt discount reported in operating activities less purchases of property and equipment.Conference Call InformationEnphase Energy will host a conference call for analysts and investors to discuss its fourth quarter 2022 results and first quarter 2023 business outlook today at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). The call is open to the public by dialing (833) 634-5018. A live webcast of the conference call will also be accessible from the “Investor Relations” section of Enphase Energy’s website at investor.enphase.com. Following the webcast, an archived version will be available on the website for approximately one year. In addition, an audio replay of the conference call will be available by calling (877) 344-7529; replay access code 2233998, beginning approximately one hour after the call.Forward-Looking StatementsThis press release contains forward-looking statements, including statements related to Enphase Energy’s expectations as to its first quarter of 2023 financial outlook, expense levels and effective tax rate; its ability to add additional manufacturing capability in the United States and to begin shipping from new manufacturing facilities in the United States in 2023; its ability to introduce IQ smart EV chargers to customers in the United States in the first half of 2023; the capabilities, advantages, features and performance of its technology and products; the anticipated demand for and availability of its products and services; and growth in deployments of Enphase Energy Systems. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Enphase Energy’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties including those risks described in more detail in its most recent Annual Report on Form 10-K and other documents on file with the SEC from time to time and available on the SEC’s website at www.sec.gov. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.A copy of this press release can be found on the investor relations page of Enphase Energy’s website at investor.enphase.com.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 58 million microinverters, and over 3.0 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit www.enphase.com.© 2023 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ7+, IQ7AM, IQ8, IQ Batteries, Enphase Energy Systems, Enphase App, Solargraf, and certain other names and marks are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Contact:Karen SagotEnphase Energy, Inc.Investor Relationsir@enphaseenergy.comENPHASE ENERGY, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share data)(Unaudited)ENPHASE ENERGY, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands)(Unaudited)ENPHASE ENERGY, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)(Unaudited)ENPHASE ENERGY, INC.RECONCILIATION OF NON-GAAP FINANCIAL MEASURES(In thousands, except per share data and percentages)(Unaudited)2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ENPH/2023.02.07/Marketmind: Powell's state of the union.txt b/news/ENPH/2023.02.07/Marketmind: Powell's state of the union.txt new file mode 100644 index 0000000000000000000000000000000000000000..375e0e261dba1a271b2fecfd2ea253bef72dafd1 --- /dev/null +++ b/news/ENPH/2023.02.07/Marketmind: Powell's state of the union.txt @@ -0,0 +1 @@ +While U.S. President Joe Biden gets set to deliver his second "State of the Union" address late on Tuesday, world markets will be more in thrall to what his Federal Reserve Chair makes of an increasingly confusing economic picture.Jerome Powell makes his first speech since the Fed's latest quarter-point interest rate rise last week. More importantly, it's his first chance to comment on Friday's seemingly blockbuster U.S. employment report for January.For markets that appeared comfortable as recently as Thursday that the Fed was signalling peak interest rates ahead and open to easing after that, the jobs report was a huge shock that's prompted dramatic re-pricing of the interest rate space.Futures markets now tally with many Fed policymakers for the first time this year and seem to accept the Fed's 'terminal rate' will be above 5% after all. Perhaps just as significantly, they now price year-end Fed rates higher than the 4.5-4.75% range they are at right now.Adding to the confusion are some doubts about just how strong the jobs report was relative to an assumed picture of a tight but gradually weakening labor market - mainly because of potentially misleading data revisions and seasonal adjustments.But Powell's colleagues are already beating the drum louder. Atlanta Federal Reserve Bank President Raphael Bostic on Monday said of the jobs readout: "It'll probably mean we have to do a little more work." Ahead of Powell's speech at 1240 EST, world stocks and U.S. futures steadied on Tuesday after a rough start to the week and U.S. Treasury yields gave back a little of their wild upswing since the payrolls surprise. The dollar took a breather after its near 3% surge from Thursday's lows. The Fed was not alone in talking tough. Australia's central bank raised its cash rate 25 basis points to a decade-high of 3.35% on Tuesday and reiterated that further increases would be needed, a more hawkish policy tilt than many had expected.Investors will watch Biden's State of the Union with one eye on the potentially destabilising debt ceiling standoff with Congress. Biden is expected to insist that raising the debt limit is not negotiable and U.S. lawmakers should not use it as a "bargaining chip,"Republican U.S. House Speaker Kevin McCarthy called on Biden to agree to compromises and spending cuts, as the two remain deadlocked over raising the nation's $31.4 trillion debt ceiling. In corporate news, shares in BP jumped almost 4% after posting a record profit of $27.6 billion in 2022 and boosting its dividend by 10%. BP's record profit follows similar reports from rivals Shell, Exxon Mobil and Chevron last week.Other big movers in Europe included a 17% slide in Nordic Semiconductor after it missed fourth-quarter earnings estimates and a 15% slump in ams OSRAM after the sensor maker reported a weak first-quarter outlook and suspended its 2022 cash dividend.Key developments that may provide direction to U.S. markets later on Tuesday:* U.S. Dec trade balance, Dec consumer credit; Canada Dec trade* Federal Reserve Chair Jerome Powell, Fed Vice Chair for Supervision Michael Barr, Bank of Canada chief Tiff Macklem all speak* U.S. Treasury auctions 3-year notes* U.S. President Joe Biden delivers State of the Union speech * U.S. corp earnings: DuPont de Nemours, Prudential Financial, Omnicom, Enphase Energy, Atmos Energy, Amcor, KKR, Chipotle, Lumen Technologies, Centene, Vertex Pharmaceuticals, Royal Caribbean Cruises, FMC, Fiserv, Gartner, Carrier Global etcGRAPHICS: Job gains remain strong https://www.reuters.com/graphics/USA-FED/POWELL/klvygdqrwvg/chart_eikon.jpgLabor share in decline https://www.reuters.com/graphics/USA-ECONOMY/SPENDING/dwpkdekobvm/chart.pngBP hits record profit https://www.reuters.com/graphics/BP-RESULTS/akpeqmnnopr/chart.pngTaming inflation https://www.reuters.com/graphics/GLOBAL-MARKETS/THEMES/mopaklyjnpa/chart.png (By Mike Dolan, editing by Christina Fincher mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/ENPH/2023.02.09/Fantasy league matchmaking between oil majors and t...txt b/news/ENPH/2023.02.09/Fantasy league matchmaking between oil majors and t...txt new file mode 100644 index 0000000000000000000000000000000000000000..1307d3bd0d2c7c74031e844b769fea980eb58290 --- /dev/null +++ b/news/ENPH/2023.02.09/Fantasy league matchmaking between oil majors and t...txt @@ -0,0 +1,77 @@ +LITTLETON, Colo., Feb 9 (Reuters) - This weekend's Super +Bowl is the annual showpiece for American football's top +professional teams, and marks the end of the fantasy league +season where amateur fans select their own configurations of +players that compete on virtual fields.Fantasy footballers deploy their own optimal mix of +real-life players from different teams, and compete with other +fans for team scoring totals and bragging rights.In a similar spirit, it's possible to fantasize about +optimal corporate match-ups on the energy field, pairing up the +financial heft and business savvy of established giants with the +entrepreneurial zeal of start ups and speciality players.While no trophies will be awarded in this power sector +showdown, the accelerating consolidation trend across the energy +landscape means plenty of real-life company hook-ups are likely +anyway, and so it can be instructive to dream up potential +pairings.$200 BILLION SEASONThe West's largest oil and gas producers raked in nearly +$200 billion in profits in 2022, a testament to the enduring +profitability of the oil and gas sector even as global efforts +to phase out fossil fuel extraction and sale stepped up a gear.The record profit haul - which came on top of massive +dividends and share buybacks that delighted shareholders - lured +praise from investors.But the eye-catching headline numbers also drew scrutiny +from climate trackers and policymakers anxious to see fossil +fuel majors show leadership in the renewable energy field.Some of so-called Big 5 majors, especially Europe-based +firms BP, Shell and TotalEnergies, +already boast major business segments tied to renewable energy.But the most profitable of the big western firms were U.S. +giants Exxon Mobil and Chevron which raked in +roughly $92.5 billion in profits between them in 2022, or 47% of +the Big 5's total haul.Big exposure to U.S.-based production assets, along with +lucrative export streams of oil, gas and fuel were key drivers +behind the outsized earnings of U.S. firms.But Exxon and Chevron were also aided by relatively smaller +investments in renewable energy businesses compared to their +European peers, which allowed the U.S. firms to devote most of +their efforts to maximising returns from traditional fossil fuel +businesses.That has brought the firms into conflict with the U.S. +government, which has laid out bold ambitions tied to the energy +transition away from fossil fuels, and has been critical of +energy companies "padding the pockets of executives and +shareholders."Even so, the profit pile earned by Exxon and its rivals +clearly presents each firm with expansion opportunities in all +areas of the energy sector, including the clean and green space.POTENTIAL MATCH UPSWhile the oil and gas majors were busy making bank, niche +firms specialising in accelerating the energy transition - from +upgrading transmission networks to developing smart grids - have +faced mounting pressure to scale up operations and product lines +to meet surging demand.On paper, the two sets of companies seem primed for a bout +of matchmaking, with the hefty war chests of the majors +seemingly ideal for funding the capital-intensive expansions +planned by the firms engaged in energy transition efforts.Firms such as Quanta Services Inc, a contractor +specialising in repair and maintenance of renewable networks, +and Itron Inc, which uses Industrial Internet of Things +(IIoT) capabilities to help utilities monitor energy flows, have +both seen strong growth in sales and interest in recent years.But both also face margin pressure from rising operating and +financing costs, as well as significant investment needs to +scale up and refine product offerings.The market capitalizations of both U.S.-headquartered firms +are miniscule compared to Exxon and Chevron, with Exxon's market +cap at the end of 2022 nearly 200 times larger than Itron's and +22 times larger than Quanta's.Other relatively small firms deployed in the renewable space +include NV5 Global, a technical engineering and +consulting firm, and Stem Inc, a digital smart network +and energy storage system provider.Both firms operate at the front edge of the energy +transition in different sectors, and present potentially +appealing entry points for majors seeking access to fast-growing +specialist areas.Beyond possible David and Goliath set-ups, there are also +some larger firms that may be on the radar for oil majors +looking to quickly beef up their presence in the green energy +and electrification spaces.Enphase Energy Inc, a supplier of microinverters to +the solar and battery storage industries, had a market cap of +more than $30 billion at the end of 2022, so is already an +established entity.But the firm also derives a majority of its revenues from +the United States, and so may need a helping hand from a larger +firm to extend its global reach.Chicago-based Exelon Corporation may be another +intriguing addition to a potential fantasy energy team.As the largest utility company in the United States, the +firm is already in the starting line-up for any energy sector +discussion.But along with hefty annual revenues comes substantial grid +investment needs that may strain the company's coffers in the +years ahead.In real life, the utility sector is so heavily regulated +that a pair-up with an oil major is unlikely.But for a fantasy league exercise, the partnering of an +established utility needing to upgrade electric grids with a +cash-rich oil and gas giant could make a tough team to beat.(Reporting By Gavin Maguire +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/ENPH/2023.02.13/Enphase Energy and Lumio Expand Solar Technology Leadership Across the United States.txt b/news/ENPH/2023.02.13/Enphase Energy and Lumio Expand Solar Technology Leadership Across the United States.txt new file mode 100644 index 0000000000000000000000000000000000000000..2f54d5e6bf2aa3aa4e8025b6f7d438365acd13ee --- /dev/null +++ b/news/ENPH/2023.02.13/Enphase Energy and Lumio Expand Solar Technology Leadership Across the United States.txt @@ -0,0 +1 @@ +FREMONT, Calif., Feb. 13, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today that Lumio, a leader in personalized renewable energy, will significantly expand its offering of Enphase® IQ8™ Microinverters and IQ™ Batteries to customers across the United States.Enphase® Energy Systems with IQ Batteries and the revolutionary IQ8 Microinverters, the industry’s first microgrid-forming microinverters launched late last year, offer homeowners even greater resilience than ever before. The strategic relationship with Lumio will amplify the impact and distribution of Enphase Energy Systems — providing homeowners more access to reliable, sustainable, and grid-independent power sources.“We are excited about Enphase’s full suite of products including microinverters, batteries, and EV chargers that can provide our customers best-in-class home energy management solutions,” said Greg Butterfield, chief executive officer at Lumio. “Additionally, the Enphase digital platform from lead generation to permitting to ongoing operations and maintenance services offers a unique ability for Lumio to increase efficiencies and reduce costs.”For homeowners who want battery backup, there are no sizing restrictions on pairing Enphase IQ Batteries with IQ8 Microinverters and the Sunlight Jump Start™ feature can restart a home energy system—switching to sunlight-only after prolonged grid outages that may result in a fully depleted battery. This eliminates the need for a manual restart of the system and gives homeowners greater assurance of energy resilience. Enphase IQ8 solar microinverters are built to last and come with a 25-year limited warranty.“Enphase is a clear leader in delivering innovation with home electrification hardware and software,” said David Schonberg, senior vice president of energy partnerships at Lumio. “This strategic relationship with Enphase makes it easier for Lumio’s customers to take control of their power production, power consumption, and increase the security and reliability of their family’s power supply.”“We’re proud to continue our work with Lumio to leverage its leadership in delivering customizable, reliable, and safer clean-energy solutions to homeowners nationwide,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “Our combined focus on high-quality home energy solutions and excellent customer service will offer homeowners a world-class experience end-to-end.”For more information about Enphase IQ Microinverters and IQ Batteries, please visit the Enphase website. For more information about Lumio and their mission to make power personal, please visit the company’s website.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 58 million microinverters, and over 3.0 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.© 2023 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, IQ8, Enphase Energy System, Sunlight Jump Start, IQ Batteries, and certain other names and marks are trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Forward-Looking StatementsThis press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; the availability and market adoption of Enphase products; and growth in deployments of Enphase Energy Systems. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Annual Report on Form 10-K for the year ended December 31, 2022 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://www.sec.gov/. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.Contact:Enphase Energy press@enphaseenergy.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ENPH/2023.02.21/Enphase Energy Launches IQ Batteries In Austria.txt b/news/ENPH/2023.02.21/Enphase Energy Launches IQ Batteries In Austria.txt new file mode 100644 index 0000000000000000000000000000000000000000..246c8405e3b47a7e060fa5582c6dfa65af8937c1 --- /dev/null +++ b/news/ENPH/2023.02.21/Enphase Energy Launches IQ Batteries In Austria.txt @@ -0,0 +1 @@ +FREMONT, Calif., Feb. 21, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, today announced it has started shipping IQ™ Batteries to customers in Austria, further expanding the product’s availability in the European market. IQ Batteries are also currently available to customers in Belgium, Germany, and North America.In 2021, the Austrian National Parliament established a law to move Austria to 100 percent renewable energy generation by 2030. According to a recent report by Photovoltaic Austria, newly installed solar capacity in the country doubled between 2020 and 2021. In 2022, Photovoltaic Austria estimates newly installed solar capacity was between 1.0 and 1.4 gigawatts. Additionally, Austria is listed as a top four residential battery storage market in Europe, which is expected to grow more than 400 percent by 2025, according to the European Market Outlook for Residential Battery Storage 2021-2025 analyses by SolarPower Europe.The Enphase® Energy System™ with IQ Batteries offers configurations ranging from 3.5kWh to an aggregate 42kWh and can be upgraded throughout the lifetime of the system. Enphase IQ Batteries accommodate over-the-air software upgrades for enhanced longevity and come with a 10-year limited warranty. Homeowners can also use the Enphase® App to monitor performance and intelligently manage their system. This includes the self-consumption feature, which minimizes the use of electricity from the grid. In addition, Enphase offers 24/7 customer support.“We are excited to partner with Enphase to offer our customers an innovative and reliable home energy system with IQ Batteries,” said Max Ostendorp, co-founder of HalloSonne. “IQ Batteries complement our solar solution and create a flexible and scalable energy system that can grow with our customers’ needs.”Enphase delivers a safe solar-plus-battery solution that does not expose installers or homeowners to high-voltage direct current (DC). Enphase IQ Batteries feature Lithium Iron Phosphate (LFP) battery chemistry, which provides a long cycle life and safer operation through excellent thermal stability.“As an installer, safety during installation and operation is of utmost importance, so IQ Batteries are a major selling point for us,” said Gerhard Bradler, CEO at Chargewell GmbH. “We’re proud to now offer one of the most flexible and reliable home energy systems to our customers in Austria.”The Enphase IQ® Microinverters are also available to homeowners in Austria. IQ Microinverters leverage Enphase’s unique software-defined architecture and semiconductor integration for excellent reliability and economies of scale. Enphase microinverters are subjected to a rigorous reliability and quality testing regimen with more than one million hours of cumulative power-on testing, in the aggregate, to help ensure exceptional performance under heat, high humidity, salty air, and extreme cold. The microinverters are designed to be long-lasting energy assets and are backed by a 25-year limited warranty in Austria.“We appreciate Enphase’s commitment to high-quality products and services,” said Manfred Weissenbacher, technical director at Plus PV GmbH. “IQ Batteries paired with the complete Enphase Energy System give our customers one of the best home energy management solutions on the market." “We are excited to be working with some of the leading solar installers in Austria dedicated to delivering high-quality and reliable energy products to homeowners,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “Enphase is committed to providing our European customers with best-in-class home energy management systems and enhanced energy security.”For more information about Enphase in Austria, please visit the Enphase website.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 58 million microinverters, and over 3.0 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.© 2023 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, IQ Batteries, Enphase Energy System, Enphase App, and certain other names and marks are trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Forward-Looking StatementsThis press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality, and reliability; the availability and market adoption of Enphase products in Europe; growth in newly installed solar capacity in Austria; and growth of residential battery storage market in Europe. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Annual Report on Form 10-K for the year ended December 31, 2022 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://www.sec.gov/. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.Contact:Enphase Energy press@enphaseenergy.com 2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ENPH/2023.02.23/Enphase Energy Expands IQ8 Microinverter Deployments in Maryland.txt b/news/ENPH/2023.02.23/Enphase Energy Expands IQ8 Microinverter Deployments in Maryland.txt new file mode 100644 index 0000000000000000000000000000000000000000..ced44fcc5091cda92bcc4ffe2920bd6248f3a7a5 --- /dev/null +++ b/news/ENPH/2023.02.23/Enphase Energy Expands IQ8 Microinverter Deployments in Maryland.txt @@ -0,0 +1 @@ +FREMONT, Calif., Feb. 23, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today that installers of Enphase® products in Maryland have seen growing deployments of Enphase Energy Systems™ powered by IQ8™ Microinverters.According to the U.S. Solar Market Insight report from Wood Mackenzie and the Solar Energy Industries Association, residential solar deployments in Maryland are forecast to reach approximately 92 MW in 2023, representing a 25 percent increase from the previous year. Additionally, residential battery deployments in Maryland are expected to grow more than eight-fold by 2026, according to the most recent U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie."We find that homeowners demand long term reliability coupled with peak performance – the Enphase IQ8+ Microinverters provide that exact solution," said Ryan Farrell, vice president of business operations at Lumina Solar, an Enphase Platinum level Installer. "Our partnership with Enphase allows us the opportunity to install top tier components that are backed by industry leading warranties. Lumina's culture is deeply rooted in delivering exceptional customer experience and Enphase has a long track record of matching our core values."Enphase’s revolutionary IQ8-based systems can provide Sunlight Backup™ functionality during an outage even without a battery. For homeowners who want battery backup, there are no sizing restrictions when pairing Enphase IQ™ Batteries with IQ8 Microinverters. With the Sunlight Jump Start™ feature, IQ8 Microinverters can restart a home energy system using only sunlight after a prolonged grid outage that drains the battery. This eliminates the need for a manual restart of the system and gives homeowners greater assurance of energy resilience. Enphase IQ8 solar microinverters are built to last and come with a 25-year limited warranty.“Homeowners in Maryland are increasingly looking for safe, reliable, and resilient home energy solutions,” said Stephen Welsh, president and CEO of Standard Energy Solutions, an Enphase Gold level installer. “The Enphase Energy System, featuring IQ8 Microinverters, gives homeowners more control of their energy needs and costs.”“Our existing and prospective customers love that Enphase’s solar and battery systems are cutting-edge technology,” said Kaitlyn Swann, logistics director at Energy Select. “IQ8-powered Enphase Energy Systems offer advanced technology features paired with real-time performance monitoring and management.”“We’re proud to work with our installer network in Maryland to meet the state’s growing demand for solar,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “Together, we will continue to provide homeowners in Maryland with access to reliable energy solutions through our high-quality products and services.”For more information about Enphase IQ8 Microinverters and IQ Batteries, please visit the Enphase website.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 58 million microinverters, and over 3.0 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.© 2023 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, IQ8, Enphase Energy System, Sunlight Jump Start, IQ Batteries, and certain other names and marks are trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Forward-Looking StatementsThis press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; the availability and market adoption of Enphase products; growth in deployments of Enphase Energy Systems; and growth in Maryland of residential solar deployments and deployments of residential battery capacity. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Annual Report on Form 10-K for the year ended December 31, 2022 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://www.sec.gov/. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.Contact:Enphase Energy press@enphaseenergy.com 2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/ENPH/2023.02.27/Enphase Energy Expands IQ8 Microinverter Deployments in Pennsylvania.txt b/news/ENPH/2023.02.27/Enphase Energy Expands IQ8 Microinverter Deployments in Pennsylvania.txt new file mode 100644 index 0000000000000000000000000000000000000000..e6de40654bd4b4c945f54e69148891dd21a6a9f6 --- /dev/null +++ b/news/ENPH/2023.02.27/Enphase Energy Expands IQ8 Microinverter Deployments in Pennsylvania.txt @@ -0,0 +1 @@ +FREMONT, Calif., Feb. 27, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today that installers of Enphase® products in Pennsylvania have seen growing deployments of Enphase Energy Systems™ powered by IQ8TM Microinverters.According to the U.S. Solar Market Insight report from Wood Mackenzie and the Solar Energy Industries Association, residential solar deployments in Pennsylvania are forecast to reach approximately 77 MW in 2023, representing a 10 percent increase from the previous year. Additionally, residential battery deployments in Pennsylvania are expected to grow over three-fold by 2026, according to the most recent U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie.“We’re seeing increased demand from homeowners in Pennsylvania who want a dependable home energy system that will ease the strain of rising energy costs, while also providing utility independence in times of an overtaxed and aging utility infrastructure,” said Blake Reedy, owner of Pennsylvania Solar Energy Company, an Enphase Platinum level installer. “The IQ8-enabled Enphase Energy System, which can also be equipped with battery backup, fits the bill in terms of quality, reliability, and performance.”Enphase’s revolutionary IQ8-based systems can provide Sunlight Backup™ functionality during an outage even without a battery. For homeowners who want battery backup, there are no sizing restrictions when pairing Enphase IQ™ Batteries with IQ8 Microinverters. With the Sunlight Jump Start™ feature, IQ8 Microinverters can restart a home energy system using only sunlight after a prolonged grid outage that drains the battery. This eliminates the need for a manual restart of the system and gives homeowners greater assurance of energy resilience. Enphase IQ8 solar microinverters are built to last and come with a 25-year limited warranty.“Pennsylvania residents are looking for relief from historic energy rate hikes,” said Adam Thau, president at ReNu Solar & Roofing, an Enphase Gold level installer.  “Clean energy provides a great solution to current rates and also a hedge against future rate hikes. The Enphase Energy System with IQ8 puts the power back into the hands of consumers so they can have greater piece of mind as utilities rates continue to rise.”“Our customers want a state-of-the-art home energy system that bolsters their energy resilience without needing to make sacrifices to their current energy needs,” said Luke Amick, president at SunPulse Solar, an Enphase Gold level installer. “With Enphase, our customers can customize a home energy system based on their personal needs and conveniently monitor and control their power consumption via the industry-leading Enphase App.”“We work with the top installers across Pennsylvania to help homeowners get a best-in-class, energy management experience,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “Our industry-leading platform solutions, together with 24x7 service and support provides more energy security, sustainability, and peace-of-mind for homeowners seeking to electrify their lives.”For more information about Enphase IQ8 Microinverters and IQ Batteries, please visit the Enphase website.About Enphase Energy, Inc.Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 58 million microinverters, and over 3.0 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.© 2023 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, IQ8, IQ Batteries, Enphase Energy System, Sunlight Backup, Sunlight Jump Start, and certain other names and marks are trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.Forward-Looking StatementsThis press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; the availability and market adoption of Enphase products; growth in deployments of Enphase Energy Systems; and growth in Pennsylvania of residential solar and battery deployments. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Annual Report on Form 10-K for the year ended December 31, 2022 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://www.sec.gov/. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.Contact:Enphase Energy press@enphaseenergy.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/EXC/2023.01.03/BGE Multi-Year Customer Relief and Energy Infrastructure Investment Plan Update.txt b/news/EXC/2023.01.03/BGE Multi-Year Customer Relief and Energy Infrastructure Investment Plan Update.txt new file mode 100644 index 0000000000000000000000000000000000000000..7628a6a1dd43dcdd6e6ea97645f2f98fabba9342 --- /dev/null +++ b/news/EXC/2023.01.03/BGE Multi-Year Customer Relief and Energy Infrastructure Investment Plan Update.txt @@ -0,0 +1 @@ +* Customer bills stayed flat in 2021 due to tax offsets; 2022 rate increases were partially offset by certain tax benefits; 2023 rate increases to take effect on Jan. 1, 2023BALTIMORE -- BGE's multi-year customer relief and energy infrastructure investment plan, approved by the Maryland Public Service Commission (PSC) in Dec. 2020, continues to provide improvements to the electric and natural gas systems serving 1.3 million electric customers and more than 680,000 natural gas customers in central Maryland while assisting the region's economic recovery from the COVID-19 pandemic.As authorized by the PSC, BGE customers' bills stayed flat in 2021 through the use of certain tax benefits and adjustments to offset approved rate increases. As authorized by the PSC, delivery service rates increased beginning in January 2022 and were fully reduced by these tax benefits until February 2022, when they began to be partially offset by certain tax benefits for the remainder of the year.After the January 2023 rate adjustment the average residential electric bill will increase by $2.97 per month, and the average residential natural gas bill would increase by $3.08 per month. Individual customer bill increases may differ slightly from these amounts, depending on household energy use.BGE's energy infrastructure investment plan includes more than 300 projects and maintenance programs for the period 2021-2023. Examples include:Enhancing energy infrastructure supporting the growth of important economic development sites, such as the continued grid enhancements to the Tradepoint Atlantic Redevelopment site.Installing smart automation equipment to more quickly identify and circumvent damage to the electric grid and reduce the frequency and duration of power outages.Replacing outmoded technologies, such as limited capacity 4kV electric systems, to improve reliability, enable greater adoption of solar energy and electric vehicle charging and to increase capacity in areas where redevelopment adds additional customer demand.Preparing the grid for extreme weather with continued tree trimming and vegetation management to ensure power line clearance and improve reliability during extreme weather events.Replacing outmoded natural gas pipeline segments using modern technologies and installing over-pressurization protection equipment to improve safety and reliability.Customers are benefitting from infrastructure investments by BGE over the past decade. Power outages have declined by 45 percent and when customers do experience a service interruption, their power is restored 37 percent faster today. Hundreds of miles of natural gas pipes are being replaced at an accelerated pace, which results in a safer, more efficient gas system that will reduce annual greenhouse gas emissions in central Maryland. Gas pipeline upgrades completed during the plan years alone will reduce carbon emissions over their lifetime by nearly 1.1 million metric tons-the equivalent to taking 247,000 gasoline-powered cars off Maryland roads for one year.BGE recognizes that many customers may have difficulties facing increased utility bills. As a reminder, BGE offers Bill Payment Assistance and Payment Arrangements for customers. More information can be found at bge.com/billhelp or bge.com/assistancefinder.More information on BGE's multi-year plan is available at bge.com/myp.###About BGEBGE is Maryland's largest natural gas and electric utility, providing safe and reliable energy delivery to more than 1.3 million electric customers and more than 690,000 natural gas customers in central Maryland. The company was founded in 1816 as the nation's first gas utility and remains headquartered in Baltimore City to this day. BGE is a subsidiary of Exelon Corporation (Nasdaq: EXC), the nation's leading energy utility company. Engage with the latest BGE stories on bgenow.com and connect with BGE on Facebook, Twitter, Instagram, and YouTube..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/EXC/2023.01.03/Exelon President and CEO Calvin Butler Leads Nation's Largest Transmission and Distribu...txt b/news/EXC/2023.01.03/Exelon President and CEO Calvin Butler Leads Nation's Largest Transmission and Distribu...txt new file mode 100644 index 0000000000000000000000000000000000000000..b76700288173891ef164b01903bb831cdef0b57f --- /dev/null +++ b/news/EXC/2023.01.03/Exelon President and CEO Calvin Butler Leads Nation's Largest Transmission and Distribu...txt @@ -0,0 +1,25 @@ + +Calvin Butler has begun in his role as president and chief executive officer of Exelon (Nasdaq: EXC) and has joined Exelon’s Board of Directors after previously serving as the company’s president and chief operating officer. Exelon, the nation’s largest energy transmission and delivery company by customer count, is headquartered in Chicago, and serves more than 10 million customers in Illinois, Pennsylvania, New Jersey, Delaware, Maryland and the District of Columbia. + +“It is an honor and a privilege to lead this great company into its next chapter,” said Butler. “I have had the pleasure of working alongside Chris Crane for the past 10 years, and I am excited to build upon the legacy he has built for this company. We are in a unique position to lead our customers and the nation on a path to a clean energy future. And we strive to not only lead the energy transformation, but to do so equitably, while strengthening our infrastructure, modernizing our energy delivery systems, and improving the lives of those in our communities.” + +“Leading this company has been the honor of a lifetime, and I can’t think of anyone better suited to build upon our successes and usher in our next chapter than Calvin Butler,” said Chris Crane. “I am so proud of what we have achieved as a company over the past decade for our customers and communities. We have an incredibly strong foundation to build upon, and so much ahead for us to achieve. Under Calvin’s leadership, our exceptionally talented Exelon team will continue to thrive for years to come.” + +The company is an industry leader in improving the reliability and resilience of the energy grid and is consistently recognized for achieving excellence in safety, customer service and pursuing its value of diversity, equity and inclusion. Through its workforce development programs, support for educational initiatives, employee volunteerism and other philanthropic efforts, Exelon powers the economic health and well-being of the diverse communities it serves. + +Butler has served as COO since October 2021 and was named president and COO in October 2022. He previously served as Exelon Utilities CEO since 2019 and as CEO of Baltimore Gas and Electric (BGE) from 2014 to 2019. Prior to that role, Butler served as BGE’s senior vice president for Regulatory and External Affairs. In addition, he has held various leadership positions at ComEd, including as senior vice president of Corporate Affairs and vice president of Governmental and Legislative Affairs. + +Before joining Exelon in 2008, he held senior leadership roles in external affairs as well as in manufacturing with the print, digital and supply chain solutions company R.R. Donnelley. Butler spent his early career with Central Illinois Light Company (CILCORP, Inc.), where he worked in government affairs, legal and strategy. + +In addition to serving on the Exelon Board, Butler also serves as chair of each Exelon operating company board — BGE, ComEd, PECO and PHI. He is the vice chair of the Institute of International Education (IIE) and also serves on the board of RLI Corp. (NYSE: RLI). He will be a new member of the Civic Committee of the Commercial Club of Chicago. He also serves on several nonprofit boards in areas where Exelon operates, and is on the Board of his undergraduate alma mater, Bradley University in Peoria, Ill. Butler also serves on the James Madison Council of the Library of Congress. + +He has been recognized by several organizations for his leadership and community commitment. In 2021, The Daily Record named Butler to their “Power 100” list and has singled him out as one of its top 35 Influential Marylanders, as well as listed him three times as one of Maryland’s “Most Admired CEOs.” In 2020, he was honored with the BEYA Chairman’s Award, recognizing Black leaders for their meaningful contributions to science, technology, engineering and math (STEM). That same year, he was named among Black Enterprise magazine’s “Most Influential Black Executives in Corporate America,” and as Zpryme’s “ETS Thought Leader of the Year,” honoring those with the “inventive and brave vision needed to inspire the global energy ecosystem toward sustainable modernization.” In 2019, the Boy Scouts of America honored him with the Whitney M. Young, Jr. Service Award. He is an active member of the Kappa Alpha Psi Fraternity, Inc. + +Butler earned a bachelor’s degree from Bradley University and a Juris Doctor degree from Washington University School of Law in St. Louis, Mo. He received an honorary doctorate of Humane Letters from Morgan State University in 2014. + +Exelon is the nation’s largest energy transmission and distribution company. More information about Exelon is available at exeloncorp.com. + +About Exelon + +Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005115/en/ \ No newline at end of file diff --git a/news/EXC/2023.01.04/Exelon President and CEO Calvin Butler Leads Nation's Largest Transmission and Distribu...txt b/news/EXC/2023.01.04/Exelon President and CEO Calvin Butler Leads Nation's Largest Transmission and Distribu...txt new file mode 100644 index 0000000000000000000000000000000000000000..3963056cc1f30dce54b75f87b297267f6f631e5f --- /dev/null +++ b/news/EXC/2023.01.04/Exelon President and CEO Calvin Butler Leads Nation's Largest Transmission and Distribu...txt @@ -0,0 +1 @@ +CHICAGO - Calvin Butler has begun in his role as president and chief executive officer of Exelon (Nasdaq: EXC) and has joined Exelon's Board of Directors after previously serving as the company's president and chief operating officer. Exelon, the nation's largest energy transmission and delivery company by customer count, is headquartered in Chicago, and serves more than 10 million customers in Illinois, Pennsylvania, New Jersey, Delaware, Maryland and the District of Columbia.'It is an honor and a privilege to lead this great company into its next chapter,' said Butler. 'I have had the pleasure of working alongside Chris Crane for the past 10 years, and I am excited to build upon the legacy he has built for this company. We are in a unique position to lead our customers and the nation on a path to a clean energy future. And we strive to not only lead the energy transformation, but to do so equitably, while strengthening our infrastructure, modernizing our energy delivery systems, and improving the lives of those in our communities.''Leading this company has been the honor of a lifetime, and I can't think of anyone better suited to build upon our successes and usher in our next chapter than Calvin Butler,' said Chris Crane. 'I am so proud of what we have achieved as a company over the past decade for our customers and communities. We have an incredibly strong foundation to build upon, and so much ahead for us to achieve. Under Calvin's leadership, our exceptionally talented Exelon team will continue to thrive for years to come.'The company is an industry leader in improving the reliability and resilience of the energy grid and is consistently recognized for achieving excellence in safety, customer service and pursuing its value of diversity, equity and inclusion. Through its workforce development programs, support for educational initiatives, employee volunteerism and other philanthropic efforts, Exelon powers the economic health and well-being of the diverse communities it serves.Butler has served as COO since October 2021 and was named president and COO in October 2022. He previously served as Exelon Utilities CEO since 2019 and as CEO of Baltimore Gas and Electric (BGE) from 2014 to 2019. Prior to that role, Butler served as BGE's senior vice president for Regulatory and External Affairs. In addition, he has held various leadership positions at ComEd, including as senior vice president of Corporate Affairs and vice president of Governmental and Legislative Affairs.Before joining Exelon in 2008, he held senior leadership roles in external affairs as well as in manufacturing with the print, digital and supply chain solutions company R.R. Donnelley. Butler spent his early career with Central Illinois Light Company (CILCORP, Inc.), where he worked in government affairs, legal and strategy.In addition to serving on the Exelon Board, Butler also serves as chair of each Exelon operating company board - BGE, ComEd, PECO and PHI. He is the vice chair of the Institute of International Education (IIE) and also serves on the board of RLI Corp. (NYSE: RLI). He will be a new member of the Civic Committee of the Commercial Club of Chicago. He also serves on several nonprofit boards in areas where Exelon operates, and is on the Board of his undergraduate alma mater, Bradley University in Peoria, Ill. Butler also serves on the James Madison Council of the Library of Congress.He has been recognized by several organizations for his leadership and community commitment. In 2021, The Daily Record named Butler to their 'Power 100' list and has singled him out as one of its top 35 Influential Marylanders, as well as listed him three times as one of Maryland's 'Most Admired CEOs.' In 2020, he was honored with the BEYA Chairman's Award, recognizing Black leaders for their meaningful contributions to science, technology, engineering and math (STEM). That same year, he was named among Black Enterprise magazine's 'Most Influential Black Executives in Corporate America,' and as Zpryme's 'ETS Thought Leader of the Year,' honoring those with the 'inventive and brave vision needed to inspire the global energy ecosystem toward sustainable modernization.' In 2019, the Boy Scouts of America honored him with the Whitney M. Young, Jr. Service Award. He is an active member of the Kappa Alpha Psi Fraternity, Inc.Butler earned a bachelor's degree from Bradley University and a Juris Doctor degree from Washington University School of Law in St. Louis, Mo. He received an honorary doctorate of Humane Letters from Morgan State University in 2014.Exelon is the nation's largest energy transmission and distribution company. More information about Exelon is available at exeloncorp.com.About ExelonExelon (Nasdaq: EXC) is a Fortune 200 company and the nation's largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities - Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon.Contact:Linsey WisniewskiCorporate CommunicationsE: Linsey.Wisniewski@exeloncorp.comT: 312-394-7417(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/EXC/2023.01.09/ComEd Launches New Assistance Programs to Help Families Working to Make Ends Meet.txt b/news/EXC/2023.01.09/ComEd Launches New Assistance Programs to Help Families Working to Make Ends Meet.txt new file mode 100644 index 0000000000000000000000000000000000000000..a298b4d39afee0782950a7212099cd696c729ee4 --- /dev/null +++ b/news/EXC/2023.01.09/ComEd Launches New Assistance Programs to Help Families Working to Make Ends Meet.txt @@ -0,0 +1,31 @@ + +As local communities continue to face economic hardships, ComEd is stepping up with new and enhanced customer-assistance options that will make more customers aware of the help available, provide more grants to help with electric bills, and remove barriers customers sometimes face when accessing assistance options. + +ComEd introduced three of these newest options on Saturday, Jan. 7, at a Community Resource Fair held in collaboration with Pastor Corey Brooks and Project H.O.O.D. (Helping Others Obtain Destiny) in the city’s West Woodlawn neighborhood. ComEd’s collaboration with Project H.O.O.D. took place during the organization’s regular food giveaway and provided families access to a number of agencies – including ComEd representatives – who could help with bill-assistance and career planning. + +This event, and the new customer-assistance options introduced, were informed by a ComEd-commissioned study that looked at how to support customers in light of CEJA’s ambitious goals for creating an equitable transition to a decarbonized future. This work helped ComEd better understand the inequities that have long impacted many of our communities, the barriers people within these communities face, and identify opportunities to help these individuals overcome these barriers. The study was conducted by ILLUME Advising and IEc, national policy experts that have done similar studies for states like California and New York and have a deep and broad understanding of disadvantaged communities. This is the first time an energy company has commissioned a study of this type. + +The research team conducted interviews with more than two dozen community stakeholders. Along with this research, these interviews helped the team understand how ComEd could increase its impact by collaborating with existing community networks to bolster awareness of assistance options available and help provide skills and training in next-generation technologies to support communities’ workforce of the future. Additionally, the study identified barriers and opportunities ComEd cannot directly address but can advocate for in partnership with other organizations and regulators to break down those barriers. + +“To better anticipate the changing needs of the communities ComEd serves, we’ve spoken to a number of local leaders and public officials, including Chicago Mayor Lightfoot who is looking to businesses like ComEd to join forces to create solutions,” said Gil C. Quiniones, ComEd CEO. “My takeaway is that families don’t just need help paying bills, they need that help to be both easier to access and more immediate.” + +ComEd chose to launch its newest programs with Project H.O.O.D. because of its history of addressing the needs of its community and local families. Project H.O.O.D. has proudly served the Woodlawn and Englewood communities for over a decade. + +“As we seek to transform the lives our community members, it is a great pleasure to work with ComEd and other support organizations to ensure that families are fed and have access to critical and timely resources,” said Pastor Brooks. + +ComEd customers who are unable to attend its community events can access the same assistance options through ComEd’s Smart Assistance Manager, or ComEd.com/SAM. SAM is a free online, self-service tool that helps families and individuals more easily access financial-assistance and energy-saving options that are available to them, based on their income and household size. + +ComEd’s new assistance offerings + +These offerings add to the range of programs to which ComEd can connect income-eligible families and individuals to help them manage energy bills and access clean-energy options. They include federal grants like LIHEAP, payment assistance options, energy-efficiency offerings, community solar programs and more. + +ComEd customers can access all of the energy company’s support options at ComEd.com/SAM. Customers without internet access can call ComEd at 800-334-7661 (800-EDISON1), Monday through Friday from 7 a.m. to 7 p.m. + +About ComEd + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube. + +About Project H.O.O.D. (Helping Others Obtain Destiny) + +At Project H.O.O.D., we provide mentorship, training, and community for residents of Woodlawn and Englewood. We care for our neighbors through services that empower. Our goal to end the cycle of poverty, violence, and incarceration drives us. We believe all people hold the power to transform their own lives and become peacemakers, leaders, and entrepreneurs. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230109005623/en/ \ No newline at end of file diff --git a/news/EXC/2023.01.10/ComEd Unveils 2030 Roadmap for Equitable Transition to Cleaner Energy.txt b/news/EXC/2023.01.10/ComEd Unveils 2030 Roadmap for Equitable Transition to Cleaner Energy.txt new file mode 100644 index 0000000000000000000000000000000000000000..8cb0b88962a27363d96e35317ac8b13c251d4bc0 --- /dev/null +++ b/news/EXC/2023.01.10/ComEd Unveils 2030 Roadmap for Equitable Transition to Cleaner Energy.txt @@ -0,0 +1,35 @@ + +To outline ComEd’s vision for how it will advance a low-carbon energy future that benefits all of its customers and communities in northern Illinois, the electric company today released its “ComEd 2030” vision. ComEd 2030 identifies key trends and priorities for how ComEd will meet customers’ quickly changing needs and expectations for the rest of this decade and beyond. + +“The ComEd electric grid will need to work in new ways to enable millions of electric vehicles hitting the roads and plugging in. Customers will need easy ways to connect the many thousands of clean distributed energy resources that are coming online, such as wind and solar power and battery storage. And ComEd’s service must remain highly reliable and resilient for customers as climate change challenges us with more severe weather events,” said ComEd CEO Gil Quiniones. + +ComEd 2030 sets out a vision of how the company’s investments in its infrastructure and customer programs can advance critical policy goals, including the goals of the landmark Climate and Equitable Jobs Act (CEJA), which aims to decarbonize the state’s power sector by 2045. And it is consistent with the formal Grid Plan for the years 2023 through 2027 that ComEd will present to the Illinois Commerce Commission in January 2023. + +ComEd 2030 Priorities + +ComEd 2030 introduces five pillars that will guide ComEd’s work for customers and communities: + +ComEd 2030 is centered on the more than 9 million people who call the company’s northern Illinois service territory home, and consistent with the CEJA law, focuses on ensuring that under-resourced communities are prioritized in the region’s clean energy transition. + +“Most important is our commitment to make sure the benefits of the digital and decarbonized energy future flow equitably to communities with the greatest need,” Quiniones said. “ComEd is one of the very few entities in the region that serves everyone. Because we are a company that operates in the public trust, we have a very special focus on community well-being, justice and opportunity for all.” + +Harnessing Customer and Industry Trends + +ComEd 2030 identifies five key trends for the changing customer needs ComEd will need to meet and its opportunities to provide more value for all of the communities it serves: + +In addition to being consistent with ComEd’s 2023-2027 Grid Plan, ComEd 2030 is also coordinated with parent company Exelon’s “Path to Clean,” which sets goals to reduce operations-driven emissions across the company’s businesses by 50% by 2030 and achieve net-zero operations by 2050. In addition to reducing company emissions, Path to Clean is focused on supporting customers and communities in reaching their clean energy and emissions reduction goals. + +A Position of Strength + +ComEd 2030 builds on significant performance improvements ComEd has made in the last decade to deliver safe, reliable, clean and affordable energy to the more than 9 million people who call northern Illinois home. + +“To prepare for the digital and decarbonized future, ComEd has important work ahead,” Quiniones said. “But we start from a position of strength. In the last decade, we have transformed our network into a modern grid. The value delivered to our customers and communities has been substantial.” + +ComEd 2030 outlines those areas of improved performance that ComEd will build on, including: + +Read the full ComEd story here. + +About ComEd + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230110005924/en/ \ No newline at end of file diff --git a/news/EXC/2023.01.12/ComEd Earns National Recognition for Outstanding Emergency Response Efforts.txt b/news/EXC/2023.01.12/ComEd Earns National Recognition for Outstanding Emergency Response Efforts.txt new file mode 100644 index 0000000000000000000000000000000000000000..a0f6b2cc7e3c2ef5a63ad1625bfa82dcc140ef2c --- /dev/null +++ b/news/EXC/2023.01.12/ComEd Earns National Recognition for Outstanding Emergency Response Efforts.txt @@ -0,0 +1,21 @@ + +The Edison Electric Institute (EEI), a national association that represents all American investor-owned electric companies, recognized ComEd with two awards for its outstanding emergency response efforts in 2022. The Emergency Assistance Award was presented to ComEd in recognition of its assistance efforts restoring service to homes and businesses in the South following Hurricane Ian, and the Emergency Recovery Award was presented to ComEd for its exemplary recovery efforts in response to severe thunderstorms in the Midwest last June. + +“Severe weather caused by climate change continues to challenge electric companies around the world to strengthen their system resilience and response capabilities, but these challenges are no match for the hard work of ComEd’s 6,200 employees and our continued investment in the resiliency of the power grid,” said Terence R. Donnelly, ComEd president and COO. “These awards recognize the incredible efforts by thousands of ComEd employees who work year-round to maintain the power grid in northern Illinois and lend their expertise to support other utilities around the country when faced with natural disasters.” + +“Throughout the past six months, electric companies faced devastating hurricanes, unprecedented heat waves, and many other extreme weather events that impacted the customers and communities we serve,” said EEI President Tom Kuhn. “I commend ComEd’s commitment to restore service for its customers safely and quickly under challenging conditions. I also applaud ComEd for aiding neighboring electric companies in their times of need. ComEd and its storm response team undoubtedly are deserving of this national recognition, and I am honored to present them with these well-deserved awards.” + +EEI’s Emergency Recovery Award was earned by ComEd due to efforts in June 2022, when over 195,000 ComEd customers experienced outages due to the severe thunderstorms that hit northern Illinois. In addition to deploying crews to assess damage and quickly restore power, ComEd also deployed care vans and cooling buses throughout the region to support customers and provide hard-hit areas with additional relief during the heatwave. Thanks to the efforts of ComEd’s team and grid hardening investments, 50 percent of customers were restored within two hours of their outage, and 95 percent of customers were restored within 23 hours of their outage. + +EEI’s Emergency Assistance Award was earned by ComEd due to outstanding efforts helping other utilities restore power following significant storms. Hurricane Ian left a path of destruction from Florida through the Carolinas in September 2022. In total, 4 million customers in Florida and 1 million customers throughout North and South Carolina lost power due to this storm. ComEd deployed 320 employees to support restoration efforts, providing more than 50,000 hours of assistance for five different utilities in the region. + +The Emergency Assistance Award and Emergency Recovery Award are presented to select EEI member companies to recognize their extraordinary efforts to assist local utilities as they work to restore power to customers after service disruptions caused be severe weather conditions or other natural events. The winners are chosen by a panel of judges following an international nomination process, and the awards were presented during EEI’s winter Board of Directors and CEO meeting on January 11, 2023. + +These awards are just the latest accolades earned by ComEd, and follow the 2022 Reliability One® Outstanding System Resiliency Award, presented to ComEd by PA Consulting in November of 2022. This award recognized the investment ComEd has made to harden its system and bring greater resiliency to customers during severe weather and other events. + +ComEd is providing record-breaking reliability to the communities it serves. In 2022, more than 3.6 million of ComEd's 4.1 million customers experienced either zero or no more than one outage. Since it began its smart grid investments, ComEd and its more than 6,200 employees have helped customers avoid nearly 19 million outages, saving more than $3 billion in outage-related costs. + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube. + +EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for more than 235 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition to our U.S. members, EEI has more than ​65 international electric companies, with operations in more than 90 countries, as International Members, and hundreds of industry suppliers and related organizations as Associate Members. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230112005598/en/ \ No newline at end of file diff --git a/news/EXC/2023.01.12/New Study Projects Clean Energy Transition Could Create More than 150,000 New Jobs in I...txt b/news/EXC/2023.01.12/New Study Projects Clean Energy Transition Could Create More than 150,000 New Jobs in I...txt new file mode 100644 index 0000000000000000000000000000000000000000..65d330054072257fbaf99b541a9197008f6df4a5 --- /dev/null +++ b/news/EXC/2023.01.12/New Study Projects Clean Energy Transition Could Create More than 150,000 New Jobs in I...txt @@ -0,0 +1,31 @@ + +National economic and workforce applied research firm BW Research today released a first-of-its-kind study in Illinois that found that the transition to clean energy could create a net increase of more than 150,000 jobs for the state by 2050. The study was commissioned by ComEd to better understand the economic and workforce development challenges and opportunities communities will face in the transition to clean energy; the results is a statewide and regional job analyses. + +“As evidenced by this foundational study, Illinois stands to gain tens of thousands of good-paying jobs from the transition to a clean energy future – and we must ensure that all communities benefit from this economic opportunity,” said ComEd CEO Gil Quiniones. “This research will help ensure that, working with community partners, we can build a diverse pipeline of talent ready to power the state’s journey to a cleaner, brighter future.” + +The study examines the impacts to regional and statewide employment from two scenarios on the transition to a net zero energy future. It captures initial and secondary employment outputs across four sectors of the economy – electricity, fuels, transportation and buildings – and assesses opportunities for growth and areas of displacement across these four sectors to determine employment outcomes. + +To complement BW Research’s analysis, ComEd conducted in-depth interviews with more than a dozen local business and community groups, ranging from workforce development organizations and educational institutions to labor unions. The study incorporates insights from these interviews on the impacts of the economy and pandemic recovery on the local workforce, the effect of decarbonization on the region’s future workforce, and the need for public-private partnership to prepare for workforce needs in coming decades. + +“This study shows us that we’re at a unique moment in the energy space that offers a tremendous opportunity to create new jobs and bring economic prosperity to communities across Illinois,” said Don Finn, Business Manager and Financial Secretary for IBEW Local 134. “We’re hopeful that we can attract new jobseekers and build a diverse talent pipeline to support Illinois for generations to come.” + +The first scenario assumes a business-as-usual approach that examines the impact of decarbonization driven by laws such as Illinois’ Climate and Equitable Jobs Act (CEJA) and the federal Inflation Reduction Act (IRA) on employment across the state. It assumes no additional efforts to accelerate the electrification of transportation, buildings or industry. Under this scenario, Illinois would see a net increase of 15,000 jobs between 2021 to 2030 and an increase of 38,000 jobs between 2021 to 2050. + +The second scenario includes the job projections under the business-as-usual approach but also factors in additional actions beyond CEJA and the IRA to achieve economywide decarbonization by 2050, with high levels of electrification and a significant role for hydrogen and gas backup for heating. This scenario finds a net increase of 41,000 jobs in Illinois between 2021 and 2030 and a net increase of 151,000 jobs between 2021 to 2050. + +These scenarios are the same as two of the scenarios identified in a recent independent study by national sustainability firm Energy and Environmental Economics, Inc. (E3) that outlines pathways for Illinois to achieve full, economy-wide decarbonization by 2050, consistent with the state’s pledge as part of the U.S. Climate Alliance to pursue the Paris Agreement. + +“Our clean energy future is going to create more and better paying jobs, and education and job training will be critical in our work to ensure all communities benefit from this economic opportunity,” said Juan Salgado, Chancellor of City Colleges of Chicago. “This study will help us better expand existing educational programs and build new ones that will ensure the future workforce has the training and stackable skills necessary to thrive in this sector.” + +The study also revealed that, under both scenarios, job quality would improve, with high paying and mid-wage jobs expected to increase by roughly seven percent under the business-as-usual scenario to 17 percent under a moderate electrification scenario. + +“We are working to ensure underserved communities across Chicago have access to good-paying jobs and the necessary training to qualify for these jobs,” said Andrew Wells, Vice President of Workforce Development for the Chicago Urban League. “Working with ComEd and others, we are committed to maximizing the opportunities presented by the clean energy future to benefit every person, particularly communities who have historically lacked access to these opportunities.” + +ComEd will use the study to inform its existing job training programs and internal hiring and training plans to support projected workforce needs, as well as to inform partnerships with state and local organizations to expand and develop job training programs to support the transition to clean energy. The company currently offers or supports a range of in-depth job training and apprenticeship programs, including the CONSTRUCT Infrastructure Academy, which, over the past decade, has helped more than 700 participants from diverse backgrounds prepare for careers in the skilled trades. + +Other training opportunities include the Chicago Builds program at Dunbar High School through a partnership with Chicago Public Schools and the ComEd-sponsored Overhead Electrical Line Worker Training at Dawson Technical Institute. + +The full study by BW Research can be accessed at https://bwresearch.com/docs/BW_ComED-Jobs&EquitableEnergyTransitionStudyReport2022.pdf. + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230112005607/en/ \ No newline at end of file diff --git a/news/EXC/2023.01.17/ComEd Multi-Year Plans Advance Region's Economic, Climate and Equity Goals.txt b/news/EXC/2023.01.17/ComEd Multi-Year Plans Advance Region's Economic, Climate and Equity Goals.txt new file mode 100644 index 0000000000000000000000000000000000000000..78860d60c0240f3eb24ace92c0c5d7b80b1bc8e9 --- /dev/null +++ b/news/EXC/2023.01.17/ComEd Multi-Year Plans Advance Region's Economic, Climate and Equity Goals.txt @@ -0,0 +1,49 @@ + +ComEd today filed with the Illinois Commerce Commission (ICC) multi-year grid and rate plans (“the plans”) that will strengthen the region’s infrastructure and economy and increase access to the benefits of clean energy and decarbonization under the state’s Climate and Equitable Jobs Act (CEJA). The plans also ensure that the electric grid remains reliable and resilient for the 9 million people ComEd serves in northern Illinois as severe weather events become more common due to climate change. + +“ComEd has a critical role in ensuring the transition to cleaner energy is reliable and equitable for all,” said ComEd CEO Gil Quiniones. “These proposed investments are necessary to deliver the resilient 24/7 power our customers depend on, prepare the grid for fleets of electric vehicles and electrification, integrate more clean energy and battery storage, and equitably advance a decarbonized energy future. In addition to supporting the goals of CEJA, the plans will create good-paying local jobs and drive investment to help ensure all communities – especially those that are under-resourced – benefit from the clean energy transition.” + +The grid plan reflects input provided in 15 ICC-led workshops, which involved hundreds of participants and dozens of presentations on energy issues and community and stakeholder priorities. Following an 11-month open process in which the ICC, other public agencies, and consumer, environmental and other groups will review the plan and costs, the ICC will issue a decision in December 2023. State regulators must find all costs prudent and reasonable before including them in rates. + +Multi-Year Plan Advantages + +ComEd’s rate plan sets base rates and revenue requirements for four years, which provides greater predictability for customers while funding investments that are required to deliver at least 40 percent of benefits to equity investment-eligible communities. The plans align with ComEd 2030, the company’s recently announced vision for a carbon-free energy future that will benefit all communities and meet customers’ changing needs for the rest of this decade and beyond. + +Each investment that ComEd plans helps ensure the safety, resiliency and security of the grid while meeting the demands of climate change, decarbonization and electrification, evolving customer needs, and increasing cyber and physical security threats – all with a focus on equity and affordability. Key areas of investment include: + +Bills Among Lowest in Nation; Record-Breaking Reliability + +ComEd’s average total monthly customer bill of $93 is among the lowest in the nation today, and its residential customers’ bills are approximately 20 percent lower than the average in the 10 largest U.S. metropolitan areas. ComEd’s plans would result in an increase of about $4.25 in the average monthly residential bill annually from 2024 through 2027, for a total impact of $17 by 2027. At ComEd’s requested rate for 2027, the average residential bill would be less than even the average 2021 residential utility bill in more than half of U.S. states. The plans include an increase in annual delivery costs of $1.47 billion spread out over four years. The company is seeking ICC approval to defer 35 percent of the 2024 increase until 2026 to smooth the transition for ComEd customers. + +Maintaining a highly reliable grid with fewer and shorter power outages will continue to create savings for customers. ComEd’s reliability is among the best of all large U.S. electric companies and was better in 2022 than in any prior year on record. Since ComEd started smart grid improvements in 2012, it has improved overall reliability by more than 80 percent, helping customers avoid more than 19 million outages and save more than $3.3 billion in outage-related costs. As extreme weather events, electrification and other ComEd customer needs increase, the need to invest in the reliability of the system grows. + +“We are encouraged that ComEd's plans will build greater resilience, improve the capacity to transition to clean energy and adapt to climate change impacts. We are pleased to support ComEd's multi-year grid plan," Neil C. James, Executive Director of Metropolitan Mayors Caucus. + +Expansion of Renewables and Beneficial Electrification + +ComEd estimates that solar power on its grid, including rooftop and community solar systems, will grow more than five times from almost 500 megawatts (MWs) today to 2,700 MWs by 2030. In 2022, ComEd received a record-setting 19,292 applications from residential, commercial and industrial customers to connect solar panels and other distributed energy resources to ComEd’s grid, a 74 percent increase from the prior year. Sustaining this growth and preparing to serve more electric vehicles, buildings and industries while maintaining grid safety and reliability for ComEd customers will require physical and digital infrastructure upgrades. + +“EV adoption has grown significantly throughout the country, and specifically in Illinois, in recent years, and we expect this trend to accelerate in the near term,” said Matthew Deal, manager of utility policy at ChargePoint, the largest online network of independently owned EV charging stations. “ComEd’s proposed Grid Plan establishes a strong foundation to support the State’s goal for one million EVs on Illinois roads by 2030.” + +Multi-Year Plans Support Jobs, Drive Economic Development + +ComEd’s plan will support job creation as renewable energy rapidly expands and various sectors decarbonize. National economic and workforce applied research firm BW Research recently released a first-of-its-kind study that found that the state’s larger transition to clean energy could create a net increase of more than 41,000 jobs by 2030 and 150,000 jobs by 2050 in Illinois. + +“Illinois leads the nation in moving to a clean energy economy built by union labor,” said Joe Duffy, executive director of labor coalition Climate Jobs Illinois. “ComEd's Grid Plan represents an important first step towards the clean jobs future.” + +In addition, the grid plan advances ComEd’s leading role in supporting economic growth across northern Illinois. Companies continue to invest in the region thanks to the unparalleled access to clean, cost-effective and highly reliable power. As one key example, in the last two years, ComEd has brought 28 commercial projects online, including 12 data centers, representing 6,800 jobs and more than $3 billion in local investment. + +“As businesses continue to increase their electrification needs, an affordable, reliable, and clean grid has never been more critical,” said Jack Lavin, President and CEO of the Chicagoland Chamber of Commerce. “ComEd’s continued investments in a more sustainable system will keep Illinois competitive by providing a modernized grid that can attract businesses to our state and contribute to their performance.” + +Performance Metrics Drive Accountability in Achieving Targets and Equity + +ComEd’s plan is subject to ICC-approved performance metrics that set targets for grid performance and equity. They measure: continued improvement in reliability of the overall grid and greater resilience in environmental justice communities; reduction of peak electric demand on the grid; reduction of residential customer disconnections; reduction of the time it takes to connect distributed energy resources; and enhancement of service through the resolution of customer issues. + +Metrics include ComEd’s spend with diverse suppliers and its impact on the economy. In 2021, ComEd spent $893 million – 42 percent of its total spend – with minority-owned, women-owned, and veteran-owned companies, up from $253 million in 2012. ComEd works with more than 660 diversity-certified suppliers, including The Will Group, a contract manufacturing company. + +“Over the past 10 years, we have partnered with ComEd on various projects that have transformed communities like the K-Town Business Center in North Lawndale,” said Joshua Davis, president of The Will Group. “ComEd's proposed grid plan is a community investment that aligns with our partnership's foundational shared quality of being transformative in the communities in which we operate, and we fully support it.” + +To continue to support customers who are working to make ends meet, ComEd recently added three new customer-assistance programs to its existing offerings to help income-eligible families and individuals access assistance options and manage their electric bills. + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005845/en/ \ No newline at end of file diff --git a/news/EXC/2023.01.17/Exelon : Regulation FD Disclosure - Form 8-K.txt b/news/EXC/2023.01.17/Exelon : Regulation FD Disclosure - Form 8-K.txt new file mode 100644 index 0000000000000000000000000000000000000000..cf461be75ad4d63360a4e8b6e48b1615e7fe519e --- /dev/null +++ b/news/EXC/2023.01.17/Exelon : Regulation FD Disclosure - Form 8-K.txt @@ -0,0 +1,588 @@ + +exc-20230117 + + + + + + + + + + + + +UNITED STATES SECURITIES AND EXCHANGE COMMISSION + + + + +Washington, D.C. 20549 + + + + +FORM + + +8-K + + + + + + + + +CURRENT REPORT + + + + +Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 + + + + +January 17, 2023 + + + + +Date of Report (Date of earliest event reported) + + + + + + + + + + + + +Commission + File Number + + +Name of Registrant; State or Other Jurisdiction of Incorporation; Address of Principal Executive Offices; and Telephone Number + + +IRS Employer Identification Number + + + + + + + + +001-16169 + + +EXELON CORPORATION + + +23-2990190 + + + + + +(a Pennsylvania corporation) + + +10 South Dearborn Street + + +P.O. Box 805379 + + +Chicago, Illinois60680-5379 + + +(800)483-3220 + + + + + +001-01839 + + +COMMONWEALTH EDISON COMPANY + + +36-0938600 + + + + + +(an Illinois corporation) + + +10 South Dearborn Street + + +Chicago, Illinois60603-2300 + + +(312)394-4321 + + + + + + + + + + + + + +Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: + + + + +☐ + + +Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) + + + + +☐ + + +Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) + + + + +☐ + + +Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) + + + + +☐ + + +Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) + + + + + + + + + + + + +Securities registered pursuant to Section 12(b) of the Act: + + + + +Title of each class + + +Trading Symbol(s) + + +Name of each exchange on which registered + + + + +EXELON CORPORATION: + + + + +Common Stock, without par value + + +EXC + + +The Nasdaq Stock Market LLC + + + + + + + + + + + + + +Indicate by check mark whether any of the registrants are emerging growth companies as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ + + + + + + + + + + + + + +If an emerging growth company, indicate by check mark if any of the registrants have elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ + + + + + + + + + + + + + + + + + + + + + +Section 7 - Regulation FD Disclosure + + +Item 7.01. Regulation FD Disclosure + + + + + + +On January 17, 2023, Commonwealth Edison Company ("ComEd") will file a petition with the Illinois Commerce Commission ("ICC") seeking approval of a Multi-Year Rate Plan for 2024-2027 (Rate Plan). The Rate Plan is being filed pursuant to Section 16-108.18 of the Illinois Public Utilities Act. It will support a Multi-Year Grid Plan (Grid Plan) that covers planned investments on the electric distribution system within ComEd's service area. The Grid Plan also extends through 2027 and will be filed with the ICC on January 17. The Rate Plan would establish annual base rate revenue requirements for electric delivery services as follows: + + + + + + + + + + + + + +Year + + +Base Rate Revenue Requirement + + + + +2024 + + +$3,757,912,000 + + + + +2025 + + +$3,932,500,000 + + + + +2026 + + +$4,149,156,000 + + + + +2027 + + +$4,351,935,000 + + + + + + + + + +ComEd's requested revenue requirements are based on requested returns on common equity of 10.50%, 10.55%, 10.60%, and 10.65% in 2024, 2025, 2026, and 2027, respectively, and on capital structures that reflect between 50.58% and 51.19% common equity. The approved revenue requirements will be reconciled to actual costs incurred during each such year, subject to certain limitations and to ICC review, in accordance with law. In the filing, ComEd will ask the ICC to phase-in the new rates by deferring 35% of the 2024 base rate increase, with that amount being recovered in 2026. + + + + + + +The Rate Plan and Grid Plan filings will be available on the ICC website. + + + + + + +The ICC must review the Rate and Grid Plans in a proceeding on a consolidated basis and issue a decision by mid-December 2023. Other parties are expected to join or intervene in that proceeding. The ultimate outcome of that process cannot be determined at this time. + + + + + + +Section 9 - Financial Statements and Exhibits + + +Item 9.01. Financial Statements and Exhibits + + + + + + +(d) Exhibits. + + + + + + + +Exhibit No. + + +Description + + + + +101 + + +Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. + + + + +104 + + +The cover page from this Current Report on Form 8-K, formatted as Inline XBRL. + + + + + + + + + +* * * * * + + +This combined Current Report on Form 8-K is being furnished separately by Exelon Corporation and Commonwealth Edison Company (Registrants). Information contained herein relating to any individual Registrant has been furnished by such Registrant on its own behalf. No Registrant makes any representation as to information relating to any other Registrant. + + + + + + +This Current Report contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from the forward-looking statements made by the Registrants include those factors discussed herein as well as the items discussed in (1) the Registrants' Annual Report on Form 10-K filed with the SEC on February 25, 2022 in Part I, ITEM 1A. Risk Factors; (2) the Registrants' Current Report on Form 8-K filed with the SEC on June 30, 2022 to recast Exelon's consolidated financial statements and certain other financial information originally included in the 2021 Form 10-K in (a) Part II, ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations and (b) Part II, ITEM 8. Financial Statements and Supplementary Data: Note 3, Regulatory Matters, and Note 17, Commitments and Contingencies; (3) the Registrants' Third Quarter 2022 Quarterly Report on Form 10-Q in (a) Part II, ITEM 1A. Risk Factors, (b) Part I, ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations, and (c) Part I, ITEM 1. Financial Statements: Note 3, Regulatory Matters, and + + + + + + + + + + +Note 13, Commitments and Contingencies; and (4) other factors discussed in filings with the Securities and Exchange Commission by the Registrants. + + + + + + +Investors are cautioned not to place undue reliance on these forward-looking statements, whether written or oral, which apply only as of the date of this Current Report. None of the Registrants undertake any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this Current Report. + + + + + + + + + + +SIGNATURES + + + + + + +Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. + + + + + + + + + +EXELON CORPORATION + + + + + + + + +/s/ Jeanne M. Jones + + + + +Jeanne M. Jones + + + + +Executive Vice President and Chief Financial Officer + + + + + + + + +COMMONWEALTH EDISON COMPANY + + + + + + + + +/s/ Elisabeth J. Graham + + + + +Elisabeth J. Graham + + + + +Senior Vice President, Chief Financial Officer and Treasurer + + + + + +January 17, 2023 + + + + + + + + + + + + + + +EXHIBIT INDEX + + + + + + + + + +Exhibit No. + + +Description + + + + +101 + + +Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. + + + + +104 + + +The cover page from this Current Report on Form 8-K, formatted as Inline XBRL. + + + + + + + + + + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Exelon Corporation published this content on 17 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2023 14:19:02 UTC. + + diff --git a/news/EXC/2023.01.17/What People Are Saying About ComEd's Multi-Year Plans That Advance Region's Economic, C...txt b/news/EXC/2023.01.17/What People Are Saying About ComEd's Multi-Year Plans That Advance Region's Economic, C...txt new file mode 100644 index 0000000000000000000000000000000000000000..6cc1c7490995ec0a90e151938907e76be64d1a6d --- /dev/null +++ b/news/EXC/2023.01.17/What People Are Saying About ComEd's Multi-Year Plans That Advance Region's Economic, C...txt @@ -0,0 +1,117 @@ + +A wide variety of municipal, business, community and labor leaders from across northern Illinois and beyond today released statements about ComEd’s multi-year grid and rate plans that advance the region’s economic, climate and equity goals. + +Neil C. James +Executive Director of Metropolitan Mayors Caucus +"We are encouraged that ComEd's plans will build greater resilience, improve the capacity to transition to clean energy and adapt to climate change impacts. We are pleased to support ComEd's multi-year grid plan." + +Joe Duffy +Executive director of labor coalition Climate Jobs Illinois +“Illinois leads the nation in moving to a clean energy economy built by union labor. ComEd's Grid Plan represents an important first step towards the clean jobs future.” + +Jack Lavin +President and CEO of the Chicagoland Chamber of Commerce +“"As businesses continue to increase their electrification needs, an affordable, reliable, and clean grid has never been more critical. ComEd’s continued investments in a more sustainable system will keep Illinois competitive by providing a modernized grid that can attract businesses to our state and contribute to their performance.” + +Michael P. Dunn, Jr +Executive Director of Region 1 Planning Council (R1) +“A modern and resilient grid is a top infrastructure priority for our region and our industry clusters. Industry and residents will further expect our region's future economic competitive advantage as we compete for tomorrow's industry. We are encouraged by and support ComEd's multi-year grid plan as aligned with our own future planning and policies." + +Nancy E. Norton +President & CEO of Grundy Economic Development Council +"The GEDC is supportive of ComEd’s commitment to a modern, resilient, and flexible grid. As ComEd pursues these goals, affordability must be a key pillar in their plan." + +Greg Bedalov +President & CEO of Choose DuPage +"Reliable, affordable electrical infrastructure and delivery is one of the assets that helps to define our economic advantage, and efforts to strengthen this advantage should be a priority. We support ComEd's grid plan, which includes cost-effective initiatives that will address climate change, grow our economy, advance equity and strengthen our local infrastructure." + +Doug Pryor +President & CEO of Will County Center for Economic Development +“Will County CED supports the initiatives in ComEd's proposed grid plan, which seeks to affordably enhance grid resiliency and reliability while enabling renewable energy resources and beneficial electrification. We believe this will better economic outcomes for Will County and will positively impact development in Illinois." + +Erich Sanchack +COO of Digital Realty +“Chicago, and in particular Northern Illinois and Franklin Park are critical to Digital Realty, our customer’s businesses, and an important part of the overall global digital infrastructure. Our continued partnership with ComEd and the work they are doing with the grid plan will ensures that not only do our data center facilities deliver on the needs of our global customers, but continue to drive regional economic benefits, and investment in clean energy technologies and continued strong reliability performance.” + +Joshua Davis +President of the Will Group +"Over the past 10 years, we have partnered with ComEd on various projects that have transformed communities like the K-Town Business Center in North Lawndale. ComEd's proposed grid plan is a community investment that aligns with our partnership's foundational shared quality of being transformative in the communities in which we operate, and we fully support it." + +Joann P. Ornelas-Bauer +Chief Executive Officer of Dynamic Utility Solutions +"ComEd has been a great supporter and partner for the growth of diverse suppliers like ours. We fully support this multi-year plan, which will continue to create jobs and fuel economic opportunity across northern Illinois." + +Trisha Knych +VP of Marketing, Corporate Communication & Government Relations of S&C Electric Company +"While we have supplied ComEd with equipment to support their foundational smart grid, preparing for the grid of the future requires additional work that must happen now. When threats arise to our energy system, ComEd is the first responder, and we support ComEd's grid plan for the future." + +George A. Williams +Chairman & CEO of PMI Energy Solutions, LLC +"Since our founding in 2012, ComEd has played a key role in opening growth opportunities for our firm and has demonstrated their ability to develop a smarter and more resilient grid to benefit all parties. As a minority-owned company, we stand behind ComEd's plans to prepare the grid for an ever-changing future that will benefit all communities." + +Paula Robinson +Managing Member, Bronzeville Partners LLC +"While our collective objective is to ensure that the community and customers receive reliable and affordable service, greater neighborhood stability occurs when we leverage our collective experiences and expertise and create new jobs and new enterprise around these growth industries. This grid plan outlines this type of community collaboration, and BCDP supports ComEd’s grid plan that seeks to create long-lasting jobs and long-term prosperity." + +Cohen Barnes +Mayor of the City of DeKalb +“The importance of ComEd continuing to build out capacity for the next datacenter in DeKalb is critical to the success of our continued economic growth. Without adequate infrastructure and a proactive approach to building out capacity, our economic growth will be stifled, and we are thankful ComEd continues to work with the City of DeKalb to anticipate the needs to come.” + +Jodi Miller +Mayor of the City of Freeport +"As ComEd is preparing to address calls for a stronger and more intelligent grid to support the ever-growing growth in the renewable energy sector, I understand and support the need for future investment in ComEd's multi-year grid plan. We applaud ComEd's preparation to transform the operations and functionality in the current grid." + +Mark W. Szula +President of the Village of Roscoe +"New and expanded clean energy requirements - as well as the increasing demand from expanding the electric vehicle market - require a continued to commitment to growth and improvement. The Village of Roscoe supports the initiatives advanced in ComEd's multi-year grid plan and appreciates the benefits that will come through improved system resiliency and reliability." + +Billy McKinney +Mayor of the City of Zion +"We applaud ComEd's focus on equity as a key pillar of the grid plan, in particular focusing on investments and system performance improvements that benefit designated environmental justice communities like Zion." + +Danny D. Langloss, Jr. +Dixon City Manager +"ComEd has been highly responsive and provided assistance around the areas of economic development and restoring the power grid to critical facilities and our entire community following extreme weather events, and we support their multi-year grid plan that will enable Dixon's planned commercial, industrial and residential development." + +Matthew Deal +Manager, Utility Policy at ChargePoint +“EV adoption has grown significantly throughout the country, and specifically in Illinois, in recent years, and we expect this trend to accelerate in the near term. ComEd’s proposed Grid Plan establishes a strong foundation to support the State’s goal for one million EVs on Illinois roads by 2030.” + +John Kenning +CEO First Student +“First Student provides unmatched care and the safest ride to school so when students arrive, they start and end their day with an exceptional experience. We continually seek better ways to do things with innovation and sustainable practices like supporting our districts that are upgrading their fleets with electric buses. We value the investment ComEd is making to support a broad and equitable transition to clean transportation, realizing the benefits to the environment and health of our customers. We understand the importance of V2X technology and the need to continue efforts to upgrade infrastructure. When utilities, manufacturers and providers work together, it’s a win for everyone and the planet.” + +Haj Young +Managing Director, Illinois Energy Consortium, Powered by the Future Green Energy Consortium +“IEC Powered by Future Green is focused on helping all schools gain access to electric school buses and clean energy resources. A modern, flexible grid is imperative for schools to reach their clean energy goals.” + +Phil Jones +Executive Director, Alliance for Transportation Electrification +“It is now time to spend the necessary time and resources to invest in grid upgrades in order to meet the pressing challenges of enabling transportation electrification infrastructure, promoting zero or low-carbon energy generation, and allowing customers and communities more choices working with the utility. The ComEd grid plan is based on good planning, solid data, and years of experience, but pivots to the future. The plan should enable the utility and its customers to meet the urgent needs of reducing carbon emissions and air pollution through electric transportation, as well as advance other electrification uses in homes and buildings as we decarbonize.” + +Daniel Bloom +Public Affairs Manager for FLO EV Charging +"Creating a resilient, flexible electric grid that can accommodate the pace and growth of electrification, along with thousands of public EV chargers funded by these various programs will be critical, especially if the state is to reach Governor Pritzker’s goal of one million EVs on Illinois roads by 2030. FLO is pleased to support ComEd's efforts to create a more intelligent, resilient electric grid across northern Illinois to accelerate the state's transition to an electrified transportation future." + +Nate Baguio +Senior Vice President of Commercial Development at Lion Electric +“As the demand for electric vehicles, including all electric, zero-emission school buses grows, it is critical to establish partnerships between elected officials, industry leaders, school districts, and leading utility companies to push toward vehicle-to-grid (V2G) technology standards and implementation. We are confident that ComEd’s plan presents a step in the right the direction for a clean energy, zero-emission future that addresses the needs and demands of all communities.” + +Daniel Anello +CEO Kids First Chicago +“K1C believes that disrupting a status quo that has left over 200,000 Chicago households without high-speed internet is an essential public policy goal. K1C was pleased to see that ComEd’s proposed grid modernization plan envisions a smart, interconnected grid with a strong fiber backbone that can be used to support state-and-local efforts to help bridge the digital divide.” + +Dwayne Douglas +CEO of the QUILT Corp NFP +"ComEd's grid improvements provide a once in a lifetime opportunity for digital equity and inclusion and make a dramatic impact on bridging the digital divide within our communities. These improvements will provide improved networks that drive economic growth and stimulate a new generation of innovations addressing critical needs like digital literacy, workforce development, health care, education and community empowerment. We stand in support of ComEd's grid expansion efforts." + +Corey Perry +Director of Government Relations, PCs for People +“The issue of digital equity is an ever important one and we here at PCs for People work daily to develop and deploy initiatives that can help close the digital gap. When we consider endeavors like upgrades of Illinois Century Network, the state's existing 2,000-mile open access institutional fiber network serving marginalized communities across the state, it is critical to have entities such as ComEd be key contributor in tackling issues such as access and the digital divide as a whole. PCs for People is in full support for much needed expansions of affordable broadband and prioritization of digital equity and is encouraged to see ComEd seeking to increase the work being done towards closing the digital divide. PCs for People is glad to have our voice heard as we champion positive progress for digital equity and are glad to see our friends and support the endeavor of our friends at ComEd.” + +Amin Khodaei, Ph.D. +Professor at the University of Denver +"My team at the University of Denver has collaborated extensively with ComEd over the past ten years on two innovative and nationally important projects that have helped the company gain a system-level perspective on grid capabilities and shortcomings in hosting a growing penetration of distributed energy resources like solar and wind. At a time that the electric grid is experiencing an unprecedented transformation to address the increasing challenges of climate change, distributed generation and growing customer expectations, ComEd took a proactive approach to embrace innovative technologies, tap into academic expertise through close collaboration, stay ahead of the curve and become a successful model for many other utilities to learn from and follow. ComEd has a forward-thinking vision in leveraging innovative technologies to support its customers, a vision that is required to address the complexities of the ever-more evolving grid, and we strongly support their mission and vision as a pioneering electric utility." + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005847/en/ \ No newline at end of file diff --git a/news/EXC/2023.01.18/Exelon Named to the Dow Jones Sustainability Index for 17th Consecutive Year.txt b/news/EXC/2023.01.18/Exelon Named to the Dow Jones Sustainability Index for 17th Consecutive Year.txt new file mode 100644 index 0000000000000000000000000000000000000000..e81175f273e0b3284428661281b0d1f937e91de4 --- /dev/null +++ b/news/EXC/2023.01.18/Exelon Named to the Dow Jones Sustainability Index for 17th Consecutive Year.txt @@ -0,0 +1,20 @@ + +Exelon (EXC) was named to the Dow Jones Sustainability North America Index (DJSI) for the 17th consecutive year, once again earning recognition for its carbon reduction efforts, investments in technological innovation and local corporate philanthropy. The global survey evaluated over 600 of the largest North American companies on a broad range of sustainability measures. Exelon was one of only seven energy delivery companies named to the North America Index this year. + +“As the nation’s largest energy delivery company, we are committed to cutting our operations-driven emissions in half by 2030 and achieving net-zero operations by 2050," said Sunny Elebua, senior vice president, Chief Strategy & Sustainability Officer for Exelon. “We also continue to invest in innovation and technology to support our customers and communities in reaching their clean energy and emissions reduction goals.” + +The DJSI assessment is conducted each year by sustainability investment specialist S&P Global CSA and is based on a comprehensive review of the company’s environmental, social and governance (ESG) policies, and performance in more than 25 major categories. + +Energy efficiency programs at Exelon’s six local energy delivery companies—Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco—saved customers more than 22 million megawatt hours of electricity in 2021, avoiding 8.7 million metric tons of CO2e emissions, which is the equivalent energy use of over 1 million homes for one year or the carbon sequestered by 10.4 million acres of U.S. forest in one year. + +Additionally, Exelon and the Exelon Foundation continue a shared commitment to our 10-year, $20 million Climate Change Investment Initiative (2c2i) to cultivate startups working on new technologies to reduce greenhouse gas emissions and mitigate the impacts of climate change. In the first three years of the program, 28 startups have received funding to support their efforts to address climate change. + +Exelon continues to advance programs and policies to benefit employees and create a more inclusive workforce, earning recognition on such lists as Forbes’ America’s Best Large Employers, the Human Rights Campaign Foundation Corporate Equality Index, Fortune Magazine’s World’s Most Admired Companies, U.S. Veterans Magazine's Best of the Best, and others. Exelon also has been a member of the Billion Dollar Roundtable since 2017, spending $2.4 billion at its utilities with diversity-certified suppliers last year. + +The Exelon family of companies, employees and the Exelon Foundation provided $52.1 million in funding to local communities in 2021, benefitting nearly 4.3 million people, with 89 percent ($43 million) of total grants supporting organizations, programs or events that serve the needs of diverse populations. + +Learn more about Exelon’s sustainability initiatives by visiting its interactive 2021 Corporate Sustainability Report. + +About Exelon +Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005118/en/ \ No newline at end of file diff --git a/news/EXC/2023.01.18/New ComEd Substation Brings Science to Life at Argonne National Laboratory.txt b/news/EXC/2023.01.18/New ComEd Substation Brings Science to Life at Argonne National Laboratory.txt new file mode 100644 index 0000000000000000000000000000000000000000..9b385dac75ee21443cefe722e6bb1b7b2543ce3c --- /dev/null +++ b/news/EXC/2023.01.18/New ComEd Substation Brings Science to Life at Argonne National Laboratory.txt @@ -0,0 +1,17 @@ + +To provide the reliable energy required to power groundbreaking discoveries in energy, transportation and medical treatments, ComEd has completed a new substation at the U.S. Department of Energy’s (DOE) Argonne National Laboratory to support the lab’s new Aurora exascale supercomputer—one of the nation’s most advanced computers with the ability to seamlessly integrate data analysis, simulations, modeling and artificial intelligence. + +The 138-kilovolt substation is the latest collaboration between ComEd and Argonne to ensure reliable energy for campus’ critical research. This is the third substation ComEd has deployed for Argonne’s Lemont campus. + +“At ComEd, we are committed to building the electric infrastructure necessary for the advancement of science and the development of breakthrough technologies,” said Gil Quiniones, ComEd CEO. “Argonne’s work is critical for driving groundbreaking research, and we’re proud to power this innovative technology that holds the promise to change the world.” + +Argonne is home to six additional national user facilities used by thousands of scientists from around the world each year. These unique research centers include world-leading computing capabilities and an X-ray microscope that is larger than Wrigley Field and 10 billion times brighter than medical X-rays. + +“Argonne’s partnership with ComEd enables our team to use the new Aurora exascale supercomputer to conduct some of the most groundbreaking research in the world to drive innovation and support critical infrastructure,” said Argonne Director Paul Kearns. “Our shared mission will help improve the quality of life for millions of people around the world through our steps to tackle health research and identifying ways to ensure reliable, sustainable energy for our surrounding communities.” + +This year, ComEd delivered its most reliable service on record and was recognized for being the most resilient utility in the country. Since starting smart grid investments in 2012, ComEd has avoided more than 19 million customer interruptions due in part to smart grid and system improvements. These investments have helped save customers more than $3.1 billion in avoided outages and many millions more through efficiencies created by technologies like smart meters and distribution automation. + +This latest project builds on the strong collaboration between ComEd and Argonne. Earlier this year, ComEd and Argonne released the first phase of a comprehensive Climate Risk and Adaption Study as part of ComEd’s long-term effort to understand the impacts of climate change to the power grid and operations and begin to devise strategies to adapt in northern Illinois. This is the first study of its kind in the region. + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005766/en/ \ No newline at end of file diff --git a/news/EXC/2023.01.19/Exelon announces Jane S. Park as senior vice president of Federal Governmental and Regu...txt b/news/EXC/2023.01.19/Exelon announces Jane S. Park as senior vice president of Federal Governmental and Regu...txt new file mode 100644 index 0000000000000000000000000000000000000000..364b03ae5d773a512eecf7fc5a17dd14ea2d5a80 --- /dev/null +++ b/news/EXC/2023.01.19/Exelon announces Jane S. Park as senior vice president of Federal Governmental and Regu...txt @@ -0,0 +1,17 @@ + +Exelon (Nasdaq: EXC) announces that Jane S. Park has been named to the role of senior vice president of Federal Governmental and Regulatory Affairs, and Public Policy for the company. + +In this role, Park heads the development and implementation of Exelon’s federal governmental, regulatory and public policy priorities and strategies. She will have overall responsibility for working with key stakeholders at the federal executive, congressional and agency levels. She also has responsibility over matters before federal regulatory agencies, including the Federal Energy Regulatory Commission and the Environmental Protection Agency, as well as Exelon’s participation in the PJM regional transmission organization. Park also leads the implementation of key clean energy initiatives across Exelon, including Exelon’s federal clean energy initiatives and the ongoing development of Exelon’s transportation electrification strategies and policies. + +“Jane brings a wealth of knowledge and industry experience and will build and strengthen partnerships. As a former Chief Customer Officer, Jane will always lead with our customers first,” said Calvin Butler, president and CEO of Exelon. “Jane’s leadership and expertise will be critical to our success as we lead the energy transformation.” + +Prior to assuming her current role, Park served as senior vice president of Exelon’s Business Investments organization and was responsible for implementing a portfolio of transformational investments that spanned Exelon’s six utilities nationwide, including operationalizing Exelon’s own Path to Clean commitment and its large-scale technology investments in grid modernization and customer platforms. Park also has held various leadership positions at ComEd, including as Chief Customer Officer and vice president of Regulatory Policy & Strategy. + +Park serves on the boards of the Chicago Public Library Foundation, the Art Institute of Chicago Woman’s Board, the Chicago Botanic Garden and Meals on Wheels. She is a co-founder and co-chair of Exelon’s Pan-Asian Executive Leadership Council and serves as co-executive sponsor of Exelon’s employee resource group for Pan-Asian employees. + +She earned her bachelor’s degree from Harvard University and a law degree from Harvard Law School. Park was a litigation partner in Kirkland & Ellis, LLP before joining Exelon. + +About Exelon + +Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005245/en/ \ No newline at end of file diff --git a/news/EXC/2023.01.23/Illinois's Transition to Clean Energy Could Generate 150,000 additional jobs by 2050, N...txt b/news/EXC/2023.01.23/Illinois's Transition to Clean Energy Could Generate 150,000 additional jobs by 2050, N...txt new file mode 100644 index 0000000000000000000000000000000000000000..a12de6f3b10da3a4f51468a7a59f346c1138603b --- /dev/null +++ b/news/EXC/2023.01.23/Illinois's Transition to Clean Energy Could Generate 150,000 additional jobs by 2050, N...txt @@ -0,0 +1,18 @@ + + +CHICAGO, Jan. 23, 2023 /PRNewswire/ -- BW Research published the Jobs & Equitable Energy Transition Study, to provide a first-of-its-kind study for Illinois to examine the employment impacts of a transition to a decarbonized energy economy. The study was commissioned by ComEd to better understand the economic and workforce development challenges and opportunities Illinois will face in the transition to decarbonized energy.  Building upon recent work BW Research has completed in examining the transition to a low or no carbon economy in Massachusetts, New York, and other states, BW Research modeled the projected impacts of two possible decarbonization scenarios.   +A key finding of the report is that by 2030, the higher paying - what the study identifies as "tier 1 jobs", or those which pay at least $37 an hour -  will grow by at least nine percent, while lower paying ("tier 3" jobs, or those which pay less than $27 an hour) do not grow or even slightly decline in the four key sectors that were most impacted by the transition to clean energy.   +The study examines the impacts to regional and statewide employment from two scenarios on the transition to a net zero energy future. It captures initial and secondary employment outputs across four sectors of the economy – electricity, fuels, transportation and buildings – and quantifies employment impacts for growth and areas of displacement across these four sectors to determine outcomes on industries, occupations, and job quality. +The first scenario assumes a business-as-usual approach that examines the impact of decarbonization driven by laws such as Illinois' Climate and Equitable Jobs Act (CEJA) and the federal Inflation Reduction Act (IRA) on employment across the state. It assumes no additional efforts to accelerate the electrification of transportation, buildings or industry. Under this scenario, Illinois would see a net increase of 15,000 jobs between 2021 to 2030, and an increase of 38,000 jobs between 2021 to 2050. +The second scenario includes those same projections but factors in additional actions beyond CEJA and the IRA that achieve economywide decarbonization by 2050, such as high levels of electrification. This scenario finds a net increase of 41,000 jobs in Illinois between 2021 and 2030 and a net increase of 151,000 jobs between 2021 to 2050. +"As evidenced by this foundational study, Illinois stands to gain tens of thousands of good-paying jobs from the transition to a clean energy future – and we must ensure that all communities benefit from this economic opportunity," said ComEd CEO Gil Quiniones. "This research will help ensure that, working with community partners, we can build a diverse pipeline of talent ready to power the state's journey to a cleaner, brighter future." +The full report, Jobs & Equitable Energy Transition Study is available for download at https://bwresearch.com/docs/BW_ComED-Jobs&EquitableEnergyTransitionStudyReport2022.pdf +About BW Research Partnership  +BW Research is a full-service applied research firm and a national leader in economic and workforce impact research. BW Research has substantial experience developing customized research projects and a deep understanding of the energy sector and its employers, workforce, and supply chain dynamics. The firm has designed and conducted more than 500 studies for public, private, and not-for-profit organizations globally that have directly impacted federal, state, and local initiatives. For more information on BW Research or to view other reports and publications, please visit https://bwresearch.com/. +About ComEd  +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state's population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube. +MEDIA CONTACTS:Josh Williams, jwilliams@bwresearch.com (760)712.6592Phil Jordan, pjordan@bwresearch.com, (508) 384-2471ComEd Media Relations, (312)394-3500 + View original content:https://www.prnewswire.com/news-releases/illinoiss-transition-to-clean-energy-could-generate-150-000-additional-jobs-by-2050--new-study-shows-301727157.html +SOURCE BW Research Partnership + + diff --git a/news/EXC/2023.01.24/BGE completes battery energy storage project in Chesapeake Beach, enhancing grid reliab...txt b/news/EXC/2023.01.24/BGE completes battery energy storage project in Chesapeake Beach, enhancing grid reliab...txt new file mode 100644 index 0000000000000000000000000000000000000000..ab26db410750f01a58ff976ccc8667a8203d9f6b --- /dev/null +++ b/news/EXC/2023.01.24/BGE completes battery energy storage project in Chesapeake Beach, enhancing grid reliab...txt @@ -0,0 +1 @@ +Capacity-constrained area will benefit from availability of additional energy during peak demand times in colder months; facility went operational Jan. 20BALTIMORE- BGE customers in southern Anne Arundel County and parts of Calvert County will experience enhanced service reliability from additional capacity made available for the area's constrained electric distribution system by a new battery storage facility that became operational Jan. 20.Located in Chesapeake Beach, the 1 MW/2 MWh battery charges at times of low demand and discharges energy back onto the grid when demand is highest-specifically during colder months. Shifting load in this manner reduces overall peak demand, which can in turn reduce strain on the electric grid and enhance system reliability.This project is one of the significant Path to Clean investments BGE is making to lead Maryland to a cleaner, more resilient, and more sustainable energy future."Our strategic investments in battery storage are a key part of transforming the grid to further ensure safe, reliable, clean, and affordable energy service for our customers," said Mark Case, vice president of Regulatory Policy and Strategy at BGE. "The Chesapeake project immediately benefits its surrounding communities and over the next decade will support Maryland's ambitious clean energy goals, aligning with BGE's commitment to leading the state in this important decarbonization work."The Chesapeake Battery Energy Storage System and under-construction Fairhaven battery storage project were developed pursuant to the Maryland Energy Storage Pilot Project Act, signed into law in 2019 to explore ways to maximize storage value for customers, utilities, and the electric grid, and facilitate innovative commercial approaches for energy storage. Combined, the two projects will enhance service reliability for 9,000 customers and help BGE avoid expensive undergrounding upgrades to 10 miles of electric distribution equipment.BGE's sister Exelon energy delivery companies Pepco and Delmarva Power are also building battery storage pilot projects in Maryland.The state's pilot program is facilitating multiple battery storage facility ownership models. Increased competition through the development of a robust market of vendors ensures not only the most competitive prices for customers, but also ultimately a greater variety of offerings. Ameresco, Inc., a global, independent full-service provider of comprehensive energy services, will own and operate the Chesapeake battery storage facility. When not called upon for capacity by BGE, the facility and vendor Ameresco will participate in the PJM wholesale services markets.###About BGEBGE is Maryland's largest natural gas and electric utility, providing safe and reliable energy delivery to more than 1.3 million electric customers and 700,000 natural gas customers in central Maryland. The company was founded in 1816 as the nation's first gas utility and remains headquartered in Baltimore City to this day. BGE is a subsidiary of Exelon Corporation (Nasdaq: EXC), the nation's leading energy utility company. Engage with the latest BGE stories on bgenow.com and connect with BGE on Facebook, Twitter, Instagram, and YouTube..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/EXC/2023.01.24/ComEd Awarded for Two Programs That Make Energy Efficiency Benefits More Accessible to ...txt b/news/EXC/2023.01.24/ComEd Awarded for Two Programs That Make Energy Efficiency Benefits More Accessible to ...txt new file mode 100644 index 0000000000000000000000000000000000000000..92f08197dbb734bb3f87176cd237dedfcc9f8c2c --- /dev/null +++ b/news/EXC/2023.01.24/ComEd Awarded for Two Programs That Make Energy Efficiency Benefits More Accessible to ...txt @@ -0,0 +1,37 @@ + +The Midwest Energy Efficiency Alliance (MEEA) has recognized ComEd with a pair of Inspiring Efficiency Awards. The recognition is for the electric company’s efforts to help property owners and tenants save money on electric bills, as well as an education and training that helps diverse contractors build successful businesses in the energy efficiency field. + +MEEA named ComEd an Innovation Award recipient for its Multi-Family Energy Savings offering, which ensures residents in multi-family buildings have access to offerings that lower their energy use and electric bills, while presenting similar options for building owners to help common areas become more energy efficient. MEEA also recognized ComEd with an Education Award for its Energy Efficiency Service Provider Incubator program, which has helped increase the number of local and diverse-owned businesses who can provide energy-efficiency services to ComEd customers . Both programs are associated with the ComEd Energy Efficiency Program, one of the largest energy-efficiency programs in the country. + +“ComEd is committed to ensuring all of our customers have access to energy-efficiency measures that can save them money and energy. And we’re equally supportive of local businesses that are interested in providing those measures,” said Erica Borggren, ComEd’s vice president of customer solutions. “It’s this level of equity and accessibility to the ComEd Energy Efficiency Program that has enabled northern Illinois families and businesses to save more than $7.6 billion on their energy bills since 2008.” + +Both acknowledgements are part of MEEA’s 19th annual Inspiring Efficiency Awards, which recognize individuals and businesses that have shown exemplary leadership in advancing energy efficiency across the Midwest. Winners will be recognized during MEEA’s Midwest Energy Solutions Conference, Jan. 31 through Feb. 2, 2023. + +“This year’s Inspiring Efficiency Award winners have proven to be champions of energy efficiency within their communities,” said MEEA Executive Director Stacey Paradis. “The Midwest Energy Efficiency Alliance is proud to recognize ComEd for educating and empowering diverse partners to engage underserved communities and grow the clean energy workforce.” + +Innovation Award: About the Multi-Family Energy Savings (MFES) offering + +This comprehensive ComEd offering, funded by ComEd, Peoples Gas, North Shore Gas and Nicor Gas and implemented by Franklin Energy, provides energy-saving services to multi-family residences – including public housing, income eligible and market rate building types – located across the northern Illinois areas that ComEd serves. + +MFES provides customers direct installation of products, assessments, rebate offerings, contractor management, and customer education about energy efficiency and additional utility offerings. With a single point of entry, MFES offers a seamless customer experience for a full range of energy efficiency upgrades, retrofit services and consumer energy efficiency education. + +Additionally, MFES works with property owners and managers to provide them with a single point of contact so they will not need to navigate between different energy efficiency offerings and procedures on their own. This prioritizes comprehensive projects and ensures high customer satisfaction. + +Education Award: About the Energy Efficiency Service Provider (EESP) Incubator program + +ComEd’s EESP Incubator program increases the number of local and diverse-owned companies providing energy efficiency services to strengthen their businesses and better serve low-participation communities. The incubator provides training on each offering in ComEd’s energy-efficiency portfolio, back-office support to help participants with certification, information on how to finance projects and advice on business development. To increase the number of EESP contractors serving diverse communities, ComEd focused recruitment on local business owners who identify as ethnic minorities, women, LGBTQ+, persons living with a disability, veterans and others. + +The EESP Incubator has generated sustainable revenues for contractors historically excluded from the clean energy sector. Since 2019, 66 northern Illinois contractor businesses have participated in ComEd's EESP Incubator. Of those participants, 51 have joined the EESP Incubator Alumni Network, where they receive long-term support with project submissions and establishing EESP network partnerships. To date, participating businesses have submitted more than 140 energy efficiency projects to ComEd. Many of those projects are located in under-resourced communities, which supports ComEd's vision for a clean energy future that benefits all communities. + +Over time, the EESP Incubator will grow a network of service providers that reflect the diversity of ComEd’s service territory and serve traditionally low-participation communities. + +For more information about MEEA and the Inspiring Efficiency Awards winners, visit meeaconference.org/inspiring-efficiency-awards. + +About ComEd + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube. + +About Midwest Energy Efficiency Alliance + +At MEEA, we leverage our expertise to be the Midwest’s leading resource for our members, allies, policymakers and the broader sector to promote energy efficiency as the essential pathway to achieve a clean, affordable, equitable and sustainable future. Visit www.mwalliance.org for more information. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230124006014/en/ \ No newline at end of file diff --git a/news/EXC/2023.01.25/ComEd Offering $500,000 in Grant Funding for Community-Oriented Projects Across Norther...txt b/news/EXC/2023.01.25/ComEd Offering $500,000 in Grant Funding for Community-Oriented Projects Across Norther...txt new file mode 100644 index 0000000000000000000000000000000000000000..dff35087d8bef375c2f4a2b0a663296be15299f0 --- /dev/null +++ b/news/EXC/2023.01.25/ComEd Offering $500,000 in Grant Funding for Community-Oriented Projects Across Norther...txt @@ -0,0 +1,25 @@ + +ComEd today announced that municipal and community organizations in northern Illinois can now apply for the 2023 Powering Communities Grants Program, which advances environmental initiatives, enhances public safety and increases access to arts programs in communities ComEd serves. Organizations are encouraged to apply for one of the three annual grant programs: Green Region, Powering Safe Communities, and Powering the Arts. Qualifying proposals are eligible for grants of up to $10,000 each. + +Organizations interested in applying for the Powering Communities Grants Program should visit ComEd.com/Grants for more information, including how to apply for funding. Applications will be accepted through 11:59 p.m. CST on March 24, 2023. + +“At ComEd, we do more than make sure the lights stay on—we power communities,” said Gil Quiniones, CEO at ComEd. “We are thankful for our partnerships with Openlands, the Metropolitan Mayors Caucus and the League of Chicago Theatres which allow us to support important projects that help improve climate resiliency, safety and the quality of life in the communities we serve.” + +The annual competitive grants program is part of ComEd's comprehensive investment in the communities it serves. Since its origin, these programs have delivered over $4 million in funding to support hundreds of local community-based projects. + +The Green Region Grant Program, in partnership with Openlands, supports non-profit, educational, and public organizations in their efforts to plan for, protect, and improve open space. Now in its eleventh year, the grant program has supported the development of ADA-accessible trails, planted thousands of trees and vegetation, and facilitated land improvements, among other projects. A summary of 2022 Green Region grant recipients can be found here. + +“As the impacts of climate change pose a greater threat to northern Illinois communities, we are proud to continue partnering with ComEd to support nature-based solutions that help mitigate the most severe effects of climate change,” said Jerry Adelmann, President and CEO of Openlands. “We must all do our part to ensure the region's climate resiliency and a healthy quality of life for years to come.” + +The Powering Safe Communities Grant Program, in partnership with the Metropolitan Mayors Caucus, supports local municipal and public safety initiatives. These grants support projects designed to increase public safety, reduce carbon emissions and improve community resiliency. A summary of 2022 Powering Safe Communities grant recipients can be found here. + +“The Metropolitan Mayors Caucus is proud to continue our partnership with ComEd for the ninth year through the Powering Safe Communities Grant Program,” said Neil James, Executive Director at Metropolitan Mayors Caucus. “Through this program, we are providing our communities with the infrastructure and support needed to create a cleaner and safer future. This funding will help reduce carbon emissions, accelerate electrification, and improve air quality for communities across northern Illinois.” + +The Powering the Arts Grant Program, in partnership with the League of Chicago Theatres, recognizes the impact increased access to the arts has on the vibrancy of local communities. These grants support initiatives and workshops across northern Illinois communities to boost public awareness, community programming, engagement and enjoyment of the arts. A summary of 2022 Powering the Arts grant recipients can be found here. + +“The League of Chicago Theatres is excited to continue this partnership with ComEd,” said Marissa Lynn Ford, executive director of the League of Chicago Theatres. “Funding of this nature is essential to helping artists share their stories with their communities. By providing neighborhoods with theatre, music, dance, film and other art forms, the organizations supported by this funding create new relationships within communities, open up new opportunities to experience and have dialogue about culture, and deepen pathways to healing through therapy and outreach.” + +For more information on each grant program, including eligibility guidelines and how to apply, visit ComEd.com/Grants. + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005621/en/ \ No newline at end of file diff --git a/news/EXC/2023.01.26/Northern Illinois Families and Businesses Experienced Record Electric Reliability in 20...txt b/news/EXC/2023.01.26/Northern Illinois Families and Businesses Experienced Record Electric Reliability in 20...txt new file mode 100644 index 0000000000000000000000000000000000000000..970a49f26e4f1e69b7f508eb1d58443c8929c193 --- /dev/null +++ b/news/EXC/2023.01.26/Northern Illinois Families and Businesses Experienced Record Electric Reliability in 20...txt @@ -0,0 +1,19 @@ + +Investments in the power grid continued to pay reliability dividends for ComEd customers as the electric company delivered record reliability in 2022. Since grid improvements began in 2011, overall reliability has improved more than 80 percent. In that time, ComEd has avoided more than 19 million power outages for customers, saving more than $3.3 billion in outage-related costs. In 2022, 85 percent, or nearly 3.5 million ComEd customers, experienced zero or one interruption in service. + +“With growing concerns about carbon emissions and air pollution, we are living in a world that will be increasingly electric,” said Terence Donnelly, president and chief operating officer of ComEd. “As people purchase more electric vehicles and appliances, and renewable energy like solar expands across our communities, we will continue to make necessary investments in our system to ensure we are ready to meet demand.” + +As extreme weather events, electrification and other ComEd customer needs increase, the need to invest in reliable infrastructure grows. ComEd recently filed multiyear grid and rate plans that outline grid work required to support the expansion of renewables such as solar and wind power and beneficial electrification for ComEd customers while maintaining and improving the system to continue the level of reliability customers have come to expect. The plans support the goals of the Climate and Equitable Jobs Act (CEJA) that Illinois enacted in 2021, including ensuring that under-resourced communities benefit from the clean energy transition. + +“The investments we’ve made to this point have improved our overall reliability as demands on the system have grown,” said Donnelly. “But as the needs and expectations of our customers evolve, the grid needs to evolve with them.” + +In addition, the grid plan advances ComEd’s leading role in supporting economic growth across northern Illinois. Companies continue to invest in the region thanks to the unparalleled access to clean, cost-effective and highly reliable power. As one key example, in the last two years, ComEd has brought 28 commercial projects online, including 12 data centers, representing 6,800 jobs and more than $3 billion in local investment. + +"ComEd's track record for reliability is an asset that the new Greater Chicagoland Economic Partnership will leverage, along with other important attributes, to further enhance the region's competitiveness," said Michael Fassnacht, President & CEO of World Business Chicago, and Chief Marketing Officer, City of Chicago. "We also recognize the need to proactively address issues such as cost-effectiveness and sustainability, and we look forward to working with ComEd to ensure competitive pricing for industrial use and an increased percentage of renewable energy sources for the greater Chicago region. By doing so, we believe the Chicagoland region will become an even more attractive location for business expansion and investment." + +“A modern electric grid and access to renewable energy are key factors that companies making location decisions look for,” said Intersect Illinois CEO Dan Seals. “ComEd’s investment in reliable infrastructure helps us to attract companies that are committed to a sustainable future.” + +According to a recent company analysis of 25 peer U.S. energy companies with approximately 1 million customers or more, families and businesses served by ComEd experienced fewer power outages on average than customers of any comparable electric company for a fifth consecutive year in 2021, based on industry standard measures for reliability. + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube +View source version on businesswire.com: https://www.businesswire.com/news/home/20230126005657/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.01/ComEd, City of Chicago Announce Historic Energy and Equity Agreement, New Franchise Agr...txt b/news/EXC/2023.02.01/ComEd, City of Chicago Announce Historic Energy and Equity Agreement, New Franchise Agr...txt new file mode 100644 index 0000000000000000000000000000000000000000..24e7575b9082fef2d0fd2217e6e4c0b2c7d6d2a7 --- /dev/null +++ b/news/EXC/2023.02.01/ComEd, City of Chicago Announce Historic Energy and Equity Agreement, New Franchise Agr...txt @@ -0,0 +1,59 @@ + +Building on a strong, 100-year history, the City of Chicago and ComEd today announced that a deal has been reached on a pair of agreements for the future - an Energy and Equity Agreement and a new franchise agreement. These agreements, working together, will help Chicago support equitable access to cleaner energy; expand workforce development initiatives, including in under resourced communities; expand clean transportation options; and provide tools that empower Chicago families and businesses to reduce energy use and save money, while enabling ComEd to continue to provide industry-leading service to its customers in Chicago. The agreements also dovetail with ComEd’s proposed multi-year plans designed to support broader economic, equity and environmental goals. Both agreements will extend for a term of 15 years plus the option of a five-year extension and are subject to approval by the Chicago City Council and Boards of ComEd and Exelon. + +“These agreements, which will work together, are a win-win for Chicago and its residents, as they will help advance the city’s Climate Action Plan and invest in an equitable transition to a cleaner, healthier energy future for Chicago’s families and businesses,” said Gil Quiniones, CEO of ComEd. “ComEd greatly values our century-long partnership with the City of Chicago, and we look forward to continuing to provide Chicago and its residents with record-breaking reliability that supports equitable job creation and economic development.” + +The Energy and Equity Agreement will support the city’s goals of promoting clean energy, cleaner air, and a healthy environment for all Chicago residents and communities by enabling and investing in renewable energy and the electrification of transportation to bring the benefits of new energy technologies to as many people as possible. It provides, among other things, for the creation and funding of a new non-profit entity – the Clean Energy & Equity Collaborative – that will invest up to $120 million in neighborhood clean and equitable energy initiatives, to be paid for by ComEd shareholder – not customer – funds. + +"I am proud to announce this nation-leading Franchise Agreement and Energy and Equity Agreement, which will ensure the ongoing reliability of our electricity grid and accelerate an equitable transition to clean, renewable energy in all 77 communities," said Mayor Lori Lightfoot. "This is big win for Chicago, as the agreement includes up to $120 million in ComEd shareholder funds to support local climate action projects, a commitment to train more than 10,000 Chicagoans for careers in the energy sector, and meaningful improvements in coordination and local accountability with the utility." + +The agreements offer a variety of environmental, public health and financial benefits, some of which include: + +Investments to enable cleaner energy resources & combat climate change + +To expand access to renewable energy, ComEd will access state funding to place rooftop solar on up to 200 low-income homes in disadvantaged communities each year, for a total of up to 4,000 homes over the term of the agreement, at no cost to the customer through the Illinois Solar for All program. Participating homes will see an annual reduction in their electric bills and generate clean, green, and environmentally-friendly energy. + +To support the city’s goal to achieve 100 percent clean renewable energy by 2035, ComEd will leverage its solar-ready site within the Bronzeville Community Microgrid footprint to allow the city to add up to 200kW of solar power to the city-owned renewable energy portfolio. + +Enhanced job training programs + +ComEd will seek approval from its regulator, the Illinois Commerce Commission (ICC), to construct and operate a $32.5 million Clean Energy Training Hub, to be located on Chicago’s West side, to prepare, train and re-skill 10,000 residents for careers at ComEd or other companies supporting the clean energy transition. Future eligible participants will receive tuition assistance and a stipend for wrap-around services like tools, transportation, housing and childcare. + +Under the agreement, ComEd will also ensure that Chicago residents will comprise 35 percent of future CONSTRUCT Infrastructure Academy classes. Over the last 10 years, CONSTRUCT has provided skills training to help more than 700 diverse participants prepare for careers in the skilled trades – with more than 70 percent of graduates placed into jobs. Additionally, ComEd will offer full scholarships to 10 CONSTRUCT graduates each year for 10 years to attend Dawson Technical Institute’s Overhead Electrical Line Worker training program. + +Building on its collaboration with Chicago Public Schools (CPS), ComEd will invest $3.2 million in the Chicago Builds program, a two-year off-campus construction training program for CPS juniors and seniors interested in pursuing a career in construction after graduating high school. The funding will support the program’s expansion to a second school on the west side of Chicago. + +ComEd will also provide 10 trades-related ComEd internships per year for 10 years to Chicago high school students. + +Local hiring and MWBE commitments + +Over the term of the agreement, each year, 35 percent of new entry-level field trades roles and 20 percent of new customer service roles at ComEd will be filled by Chicago residents from equity investment eligible communities (EIEC) or socio-economically disadvantaged area (SEDA) communities. This would equate to approximately 1,000 jobs over the term of the agreement based on historical ComEd hiring patterns. + +To support minority and women-owned businesses (MWBE), the agreement sets participation goals for the total contract value for the design, construction and/or rehab of ComEd utility facilities owned by ComEd in Chicago at 32 percent for minority-owned business and 10 percent for women-owned business contracts. + +The agreement also establishes a framework under which the city can elect to apply a local hiring requirement of 50 percent worker hours from Chicago residents to non-grid work for the Clean Energy Training Hub. For other large projects, the city may elect to apply to non-grid work a local hiring requirement of 20 percent worker hours from Chicago residents. + +Innovation to strengthen communities + +ComEd will seek federal funding to create a Community Resiliency Hub – a first-of-its kind pilot to promote and study new technologies to advance decarbonization. The hubs will explore elements of electric vehicle charging, battery storage, grid infrastructure upgrades, advanced communications network, community partnerships and workforce development, among other topics. + +Tools to help families and businesses reduce energy use and save money + +ComEd will invest $24 million in energy efficiency weatherization strategies that will lead to lower energy usage and lower energy costs for single-family and multi-unit households in under resourced communities. This funding is estimated to aid nearly 4,900 low to median income households; a typical household will save up to $941 each year. Over the life of the weatherization measures, approximately 460 million pounds of greenhouse gas (GHG) emissions will be avoided. + +A pilot to provide affordable broadband access + +By leveraging hundreds of miles of its reserve capacity fiber assets, ComEd would enable internet service providers (ISPs) to bring fast, reliable, affordable broadband infrastructure to communities across Chicago that have limited access to high-speed internet. ComEd will work partner with the city to seek applicable federal, state and other sources of funding to advance broadband expansion efforts. + +Enhanced transparency and coordination + +Under the agreement, a City-ComEd Coordination Council will be created to enhance collaboration and communication to resolve critical infrastructure issues; coordinate electrification and decarbonization activities and investments; pursue federal, state and private funding sources to advance the Energy and Equity Agreement; monitor reliability and affordability data; and coordinate updates to the City Council. + +A community advisory panel would also be created to provide community feedback and input on the implementation of clean energy and electrification projects. The panel would include representatives from the city and ComEd along with local community, environmental and other stakeholder groups. + +Superior reliability and value + +Chicago residents receive superior reliability and value from ComEd, and the agreements will allow ComEd to continue to deliver this outstanding service. ComEd customers today enjoy record-breaking, nation-leading reliability because of prudent and necessary grid investments. Further, ComEd’s average total monthly residential customer bill of $93 is among the lowest in the nation, and approximately 20 percent lower than the average in the 10 largest metropolitan areas. In addition, ComEd’s historical grid investments have enabled ComEd to deliver a variety of programs that have delivered more than $8 billion in savings to customers by enabling them to use less electricity more efficiently. + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube +View source version on businesswire.com: https://www.businesswire.com/news/home/20230201006019/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.01/Exelon : Consolidated Financial Statements - Form 8-K.txt b/news/EXC/2023.02.01/Exelon : Consolidated Financial Statements - Form 8-K.txt new file mode 100644 index 0000000000000000000000000000000000000000..6200e196271e3d09d73e63d0903376f46dcaf248 --- /dev/null +++ b/news/EXC/2023.02.01/Exelon : Consolidated Financial Statements - Form 8-K.txt @@ -0,0 +1,576 @@ + +exc-20230201 + + + + + + + + + + + + +UNITED STATES SECURITIES AND EXCHANGE COMMISSION + + + + +Washington, D.C. 20549 + + + + +FORM + + +8-K + + + + + + + + +CURRENT REPORT + + + + +Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 + + + + +February 1, 2023 + + + + +Date of Report (Date of earliest event reported) + + + + + + + + + + + + +Commission + File Number + + +Name of Registrant; State or Other Jurisdiction of Incorporation; Address of Principal Executive Offices; and Telephone Number + + +IRS Employer Identification Number + + + + + + + + +001-16169 + + +EXELON CORPORATION + + +23-2990190 + + + + + +(a Pennsylvania corporation) + + +10 South Dearborn Street + + +P.O. Box 805379 + + +Chicago, Illinois60680-5379 + + +(800)483-3220 + + + + + + + + + +001-01839 + + +COMMONWEALTH EDISON COMPANY + + +36-0938600 + + + + + +(an Illinois corporation) + + +10 South Dearborn Street + + +Chicago, Illinois60603-2300 + + +(312)394-4321 + + + + + + + + + + + + + + + + + +Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: + + + + +☐ + + +Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) + + + + +☐ + + +Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) + + + + +☐ + + +Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) + + + + +☐ + + +Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) + + + + + + + + + + + + +Securities registered pursuant to Section 12(b) of the Act: + + + + +Title of each class + + +Trading Symbol(s) + + +Name of each exchange on which registered + + + + +EXELON CORPORATION: + + + + +Common Stock, without par value + + +EXC + + +The Nasdaq Stock Market LLC + + + + + + + + + + + + + +Indicate by check mark whether any of the registrants are emerging growth companies as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ + + + + + + + + + + + + + +If an emerging growth company, indicate by check mark if any of the registrants have elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ + + + + + + + + + + + + + + + + + +Section 8- Other Events + + +Item 8.01. Other Events + + + + + + +On February 1, 2023, an ordinance is expected to be introduced to the Chicago City Council that, if approved, would (1) grant Commonwealth Edison Company ("ComEd") a new franchise agreement, or license ("New License"), to provide on a non-exclusive basis electric utility services using public ways within the City of Chicago, Illinois, and (2) authorize the City to enter into a related Energy and Equity Agreement ("EEA") with ComEd. The New License would have an initial 15-year term ending December 31, 2037 and, subject to mutual agreement reached on or before December 31, 2036, an additional five-year extension term ending December 31, 2042, and the EEA would have a term expiring December 31, 2042, or, if earlier, the expiration date of the New License. + + + + + + +Upon its effectiveness, the New License would replace the existing 1992 non-exclusive license from the City of Chicago under which ComEd currently provides electric utility service within the City of Chicago. The New License would cover, among other things, the use of the public ways and property, coordination of activities, permitting, relocation of utility facilities, undergrounding of overhead utility facilities, and reporting and information requirements. It also establishes certain utilization initiatives, including goals for participation by minority-owned and women-owned business enterprises and utilization of City of Chicago residents in certain non-electric grid projects. The New License would provide for compensation to be paid by ComEd to the City in the form of a franchise fee, recoverable from customers in the City, determined as prescribed by the Illinois Infrastructure Maintenance Fee Law. + + + + + + +The New License would grant the City the right, upon not less than one year's prior demand, which may not be given earlier than January 1, 2027, to acquire ComEd's utility facilities located in Chicago that provide electricity to customers within Chicago. That acquisition would require a cash consideration equal to: (a) the cost of reproduction new of those utility facilities, minus (b) the depreciation on those utility facilities, plus (c) the net actual costs of separating the utility facilities to be transferred to the City from other portions of ComEd's electric utility system, plus (d) a "Municipalization Increment", intended to recover a pro rata portion of contributions (assuming a 15-year pro ration period) made to the non-profit entity discussed below, net of any amounts recovered in utility rates or, in certain cases, third party sources. + + + + + + +Under the EEA, the parties would create a new non-profit entity to advance energy and energy-related equity projects. The non-profit would be governed by a seven-member board of directors, two of whom would be appointed by ComEd and five of whom would be appointed by the City of Chicago. No board member may be a current employee or director of Exelon Corporation or its affiliates. + + + + + + +Projects advanced by the non-profit would be funded, at least in part, by ComEd. ComEd would fund the non-profit in installments to be made between 2023 and 2026, in the aggregate amount of $90 million, with an additional $20 million funded if the City and ComEd allow the New License to enter the five-year extension term. Those fundings would not be recovered in rates charged to customers. Under the EEA, ComEd also would commit to funding not less than $10 million to establish workforce development initiatives with the intent of preparing individuals from disadvantaged communities for clean energy careers; provided that if ComEd recovered that $10 million in rates, it would make a further $10 million payment to the non-profit. + + + + + + +No assurance can be provided as to the nature or timing of any action that the Chicago City Council may take in connection with its consideration of the ordinance or as to the final terms of any New License or EEA. + + + + + + + + + + +Section 9 - Financial Statements and Exhibits + + +Item 9.01. Financial Statements and Exhibits + + + + + + +(d) Exhibits. + + + + + + + +Exhibit No. + + +Description + + + + +101 + + +Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. + + + + +104 + + +Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) + + + + + + + + + +* * * * * + + + + + + +This combined Current Report on Form 8-K is being furnished separately by Exelon Corporation and Commonwealth Edison Company (Registrants). Information contained herein relating to any individual Registrant has been furnished by such Registrant on its own behalf. No Registrant makes any representation as to information relating to any other Registrant. + + + + + + + + + + + + + + +This Current Report contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Words such as "could," "may," "expects," "anticipates," "will," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "predicts," "should," and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic, and financial performance, are intended to identify such forward-looking statements. + + + + + + +The factors that could cause actual results to differ materially from the forward-looking statements made by the Registrants include those factors discussed herein as well as the items discussed in (1) the Registrants' Annual Report on Form 10-K filed with the SEC on February 25, 2022 in Part I, ITEM 1A. Risk Factors; (2) the Registrants' Current Report on Form 8-K filed with the SEC on June 30, 2022 to recast Exelon's consolidated financial statements and certain other financial information originally included in the 2021 Form 10-K in (a) Part II, ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations and (b) Part II, ITEM 8. Financial Statements and Supplementary Data: Note 17, Commitments and Contingencies; (3) the Registrants' Third Quarter 2022 Quarterly Report on Form 10-Q in (a) Part II, ITEM 1A. Risk Factors, (b) Part I, ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations, and (c) Part I, ITEM 1. Financial Statements: Note 13, Commitments and Contingencies; and(4) other factors discussed in filings with the Securities and Exchange Commission bythe Registrants. + + + + + + +Investors are cautioned not to place undue reliance on these forward-looking statements, whether written or oral, which apply only as of the date of this Current Report. None of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this Current Report. + + + + + + + + + + +SIGNATURES + + + + + + +Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. + + + + + + + + + +EXELON CORPORATION + + + + + + + + +/s/ Jeanne M. Jones + + + + +Jeanne M. Jones + + + + +Executive Vice President and Chief Financial Officer + + + + +Exelon Corporation + + + + + + + + +COMMONWEALTH EDISON COMPANY + + + + + + + + +/s/ Elisabeth J. Graham + + + + +Elisabeth J. Graham + + + + +Senior Vice President, Chief Financial Officer and Treasurer + + + + +Commonwealth Edison Company + + + + + +February 1, 2023 + + + + + + + + + + + + + + +EXHIBIT INDEX + + + + + + + + + +Exhibit No. + + +Description + + + + +101 + + +Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. + + + + +104 + + +Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) + + + + + + + + + + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Exelon Corporation published this content on 01 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2023 13:47:07 UTC. + + diff --git a/news/EXC/2023.02.08/ComEd Helps Chicago Auto Show Go Electric, Helps Customers Navigate EV Purchasing.txt b/news/EXC/2023.02.08/ComEd Helps Chicago Auto Show Go Electric, Helps Customers Navigate EV Purchasing.txt new file mode 100644 index 0000000000000000000000000000000000000000..834038a7748180f8326165aea1b8669325793f31 --- /dev/null +++ b/news/EXC/2023.02.08/ComEd Helps Chicago Auto Show Go Electric, Helps Customers Navigate EV Purchasing.txt @@ -0,0 +1,25 @@ + +Attendees at this year’s Chicago Auto Show will have the opportunity to experience electric vehicles (EVs) firsthand at the Chicago Drives Electric Track powered by ComEd. The ComEd-sponsored test track will feature EVs from BMW Cadillac, Chevrolet, Nissan and Volkswagen to give drivers who are considering an EV the chance to ride in one and help aid their decision to make the switch. + +“As part of our commitment to creating a cleaner and brighter future for every community in northern Illinois, ComEd is working to help customers transition to clean transportation that will lower emissions and improve air quality in our communities,” said Melissa Washington, chief customer officer at ComEd. “Making the switch to an EV can be a difficult decision, which is why ComEd offers a variety of resources to help make the process of switching as easy as possible. From the EV Track at the Chicago Auto Show to ComEd’s EV Toolkit, we are here to help our customers navigate their EV journey.” + +The Chicago Drives Electric Track will offer rides in a variety of EVs, driven by product specialists, on the 1/3-mile-indoor loop. This experience is included as part of general admission to the Chicago Auto Show, and the track will be open for the entire show, from Feb. 11 - 20. + +ComEd 2030, the company’s recently announced vision for an equitable transition to a cleaner energy future, sets a 2030 target of ComEd being able to support up to 1.8 million EVs on the road in northern Illinois. Navigating the new electric vehicle market can be intimidating, and ComEd is committed to helping its customers learn about their options in switching from fossil-fuel powered vehicles to EVs to support this transportation transition. + +In addition to providing customers the opportunity to test these vehicles firsthand, ComEd has created a one-stop-shop for those considering an EV purchase. The ComEd EV Toolkit offers a variety of interactive features for individuals and organizations considering EVs as well as those who have already bought an EV. Customers can use the EV Toolkit to: + +For those considering an EV, new zero-emissions vehicles provide a range of consumer savings and benefits. This includes significant savings, due to the efficiency of EV engines and their 100 percent use of electricity instead of gasoline. The savings are even higher when considering avoided operations and maintenance costs over the lifetime of the vehicle. + +In addition to saving at the pump, electrifying transportation – including cars and public transit – can also create tangible environmental and health benefits for all communities and families across northern Illinois. In fact, EVs can reduce air pollutants in the areas that would benefit most: diverse and low-income communities. The American Lung Association estimates that conversion to EVs in Illinois could save a cumulative $3.2 billion by 2050. + +Additionally, the City of Chicago’s Air Quality and Health Index reports the areas with the worst air quality and health indices are also neighborhoods where people of color make up a higher share of the population, and moreover, these communities are more likely to live close to industrial facilities and busy transit routes, where air pollutant emissions are higher. + +Illinois is poised to increase EV adoption considerably in the years ahead, thanks to the passage of state and federal climate action. The Climate and Equitable Jobs Act law, passed in 2021, makes Illinois the first state in the Midwest to set a goal of achieving 100 percent clean energy by 2050. CEJA also sets a goal of adding 1 million EVs to Illinois roads by 2030. + +For more information on EVs and to access the toolkit, visit www.comed.com/EV. + +​​​ + +Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230208005635/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.09/Fantasy league matchmaking between oil majors and t...txt b/news/EXC/2023.02.09/Fantasy league matchmaking between oil majors and t...txt new file mode 100644 index 0000000000000000000000000000000000000000..1307d3bd0d2c7c74031e844b769fea980eb58290 --- /dev/null +++ b/news/EXC/2023.02.09/Fantasy league matchmaking between oil majors and t...txt @@ -0,0 +1,77 @@ +LITTLETON, Colo., Feb 9 (Reuters) - This weekend's Super +Bowl is the annual showpiece for American football's top +professional teams, and marks the end of the fantasy league +season where amateur fans select their own configurations of +players that compete on virtual fields.Fantasy footballers deploy their own optimal mix of +real-life players from different teams, and compete with other +fans for team scoring totals and bragging rights.In a similar spirit, it's possible to fantasize about +optimal corporate match-ups on the energy field, pairing up the +financial heft and business savvy of established giants with the +entrepreneurial zeal of start ups and speciality players.While no trophies will be awarded in this power sector +showdown, the accelerating consolidation trend across the energy +landscape means plenty of real-life company hook-ups are likely +anyway, and so it can be instructive to dream up potential +pairings.$200 BILLION SEASONThe West's largest oil and gas producers raked in nearly +$200 billion in profits in 2022, a testament to the enduring +profitability of the oil and gas sector even as global efforts +to phase out fossil fuel extraction and sale stepped up a gear.The record profit haul - which came on top of massive +dividends and share buybacks that delighted shareholders - lured +praise from investors.But the eye-catching headline numbers also drew scrutiny +from climate trackers and policymakers anxious to see fossil +fuel majors show leadership in the renewable energy field.Some of so-called Big 5 majors, especially Europe-based +firms BP, Shell and TotalEnergies, +already boast major business segments tied to renewable energy.But the most profitable of the big western firms were U.S. +giants Exxon Mobil and Chevron which raked in +roughly $92.5 billion in profits between them in 2022, or 47% of +the Big 5's total haul.Big exposure to U.S.-based production assets, along with +lucrative export streams of oil, gas and fuel were key drivers +behind the outsized earnings of U.S. firms.But Exxon and Chevron were also aided by relatively smaller +investments in renewable energy businesses compared to their +European peers, which allowed the U.S. firms to devote most of +their efforts to maximising returns from traditional fossil fuel +businesses.That has brought the firms into conflict with the U.S. +government, which has laid out bold ambitions tied to the energy +transition away from fossil fuels, and has been critical of +energy companies "padding the pockets of executives and +shareholders."Even so, the profit pile earned by Exxon and its rivals +clearly presents each firm with expansion opportunities in all +areas of the energy sector, including the clean and green space.POTENTIAL MATCH UPSWhile the oil and gas majors were busy making bank, niche +firms specialising in accelerating the energy transition - from +upgrading transmission networks to developing smart grids - have +faced mounting pressure to scale up operations and product lines +to meet surging demand.On paper, the two sets of companies seem primed for a bout +of matchmaking, with the hefty war chests of the majors +seemingly ideal for funding the capital-intensive expansions +planned by the firms engaged in energy transition efforts.Firms such as Quanta Services Inc, a contractor +specialising in repair and maintenance of renewable networks, +and Itron Inc, which uses Industrial Internet of Things +(IIoT) capabilities to help utilities monitor energy flows, have +both seen strong growth in sales and interest in recent years.But both also face margin pressure from rising operating and +financing costs, as well as significant investment needs to +scale up and refine product offerings.The market capitalizations of both U.S.-headquartered firms +are miniscule compared to Exxon and Chevron, with Exxon's market +cap at the end of 2022 nearly 200 times larger than Itron's and +22 times larger than Quanta's.Other relatively small firms deployed in the renewable space +include NV5 Global, a technical engineering and +consulting firm, and Stem Inc, a digital smart network +and energy storage system provider.Both firms operate at the front edge of the energy +transition in different sectors, and present potentially +appealing entry points for majors seeking access to fast-growing +specialist areas.Beyond possible David and Goliath set-ups, there are also +some larger firms that may be on the radar for oil majors +looking to quickly beef up their presence in the green energy +and electrification spaces.Enphase Energy Inc, a supplier of microinverters to +the solar and battery storage industries, had a market cap of +more than $30 billion at the end of 2022, so is already an +established entity.But the firm also derives a majority of its revenues from +the United States, and so may need a helping hand from a larger +firm to extend its global reach.Chicago-based Exelon Corporation may be another +intriguing addition to a potential fantasy energy team.As the largest utility company in the United States, the +firm is already in the starting line-up for any energy sector +discussion.But along with hefty annual revenues comes substantial grid +investment needs that may strain the company's coffers in the +years ahead.In real life, the utility sector is so heavily regulated +that a pair-up with an oil major is unlikely.But for a fantasy league exercise, the partnering of an +established utility needing to upgrade electric grids with a +cash-rich oil and gas giant could make a tough team to beat.(Reporting By Gavin Maguire +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/EXC/2023.02.10/BGE and Exelon-Funded Racial Equity Capital Fund invests $1 million in Baltimore-based ...txt b/news/EXC/2023.02.10/BGE and Exelon-Funded Racial Equity Capital Fund invests $1 million in Baltimore-based ...txt new file mode 100644 index 0000000000000000000000000000000000000000..84080bc5a6bfb5722aa744419284cea3055be050 --- /dev/null +++ b/news/EXC/2023.02.10/BGE and Exelon-Funded Racial Equity Capital Fund invests $1 million in Baltimore-based ...txt @@ -0,0 +1 @@ +Fund supports minority-owned businesses in communities served by Exelon; investment in Sweeten Enterprise is fund's first, with several more on the horizonBALTIMORE - The BGE, Exelon, and Exelon Foundation-funded Racial Equity Capital Fund (RECF), led by RockCreek, has invested $1 million in Sweeten, a Black, woman-owned software company known for bringing trust, transparency, and data-driven decision making to the construction industry. The investment-the first deployment of capital for the fund, which launched in 2021-supports Sweeten's platform that aggregates all data related to certified minority and women-owned companies, then connects those companies with projects in their service expertise. The RECF's investment is part of a larger round by Sweeten to scale the firm's Baltimore-based enterprise platform that matches developers/prime contractors with certified minority and women-owned business enterprises (MWBE) for major construction projects with minority participation goals."We have a responsibility-beyond BGE's own purchasing of goods and services-to support ambitious work that creates sustainable opportunities for historically underrepresented diverse suppliers," said Carim Khouzami, president and CEO of BGE. "The demonstrated benefits of Sweeten's platform and its vision for growth align with our values, and we applaud the Racial Equity Capital Fund's decision to make its first investment in a company committed to helping other firms enhance supplier diversity efforts. This investment will have a multiplier effect on one of the most important economic development initiatives that directly reflects the needs of our central-Maryland communities."As part of Exelon's ongoing, extensive efforts to promote equity and economic opportunity in the diverse communities served by the company's six utilities, the RECF is making investments through debt and equity financing for minority-owned businesses throughout Exelon's service areas over the next three years. RECF will strengthen communities and help minority businesses grow by providing affordable capital to businesses that have traditionally struggled to access and secure funding due to systemic barriers. Exelon's six utilities-Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco-and the Exelon Foundation contributed to the $36 million fund, and funding is done at Exelon's own expense.RockCreek, a global investment firm that has invested more than $8.4 billion in diverse firms, leads the RECF and makes the fund's investment decisions. RockCreek is also focused on growing the capability of the capital fund through partnerships with minority-owned lending institutions, community banks, and chambers of commerce to source originations and provide additional investment and lending opportunities."The Racial Equity Capital Fund's investments help companies grow, create jobs, and strengthen communities, which are key goals of investments across RockCreek's portfolio," RockCreek CEO Afsaneh Beschloss said. "We're excited to invest in a company like Sweeten with a groundbreaking platform that's changing the way the construction industry hires labor and giving more opportunities to minority- and women-owned businesses. Sweeten will help transform the construction industry and strengthen Baltimore and other cities in the years to come."Sweeten's enterprise platform provides greater exposure to minority and women-owned businesses seeking contract opportunities. By combining industry expertise, sophisticated algorithms, and a robust database of certification records, the platform brings transparency, innovation, and inclusiveness to MWBE participation in major construction projects."Sweeten's mission is to bring trust, transparency, and diversity to the construction industry," said Jean Brownhill, CEO and founder of Sweeten. "We are honored to receive funding from the Racial Equity Capital Fund. It is important to us that our investors share our vision of bringing equity through job creation and ownership to our community, and with RockCreek, Exelon, and BGE we have found that alignment."Sweeten is the first company to receive an investment from the RECF, and the Fund has other investments and several potential deals in its pipeline across Exelon's service areas.New RECF applications are accepted on a rolling basis. Interested businesses may apply online and/or contact RockCreek at RECFInquiries@therockcreekgroup.com for more information.###About BGEBGE is Maryland's largest natural gas and electric utility, providing safe and reliable energy delivery to more than 1.3 million electric customers and 700,000 natural gas customers in central Maryland. The company was founded in 1816 as the nation's first gas utility and remains headquartered in Baltimore City to this day. BGE is a subsidiary of Exelon Corporation (Nasdaq: EXC), the nation's leading energy utility company. Engage with the latest BGE stories on bgenow.com and connect with BGE on Facebook, Twitter, Instagram, and YouTube.About ExelonExelon (Nasdaq: EXC) is a Fortune 200 company and the nation's largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities - Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon.About RockCreekOne of the largest woman and diverse-owned global investment firms, RockCreek applies data-driven technology to invest sustainably and inclusively. Founded in 2003 by CEO Afsaneh Beschloss, former Treasurer and Chief Investment Officer of the World Bank, RockCreek has more than $16 billion in assets. RockCreek has invested more than $8.4 billion in diverse firms, including over $990 million in Black owned firms, over $2.8 billion in women-owned firms, and $6.3 billion in sustainable investments including climate, health, education, job creation and affordable housing since its inception. Follow RockCreek on Twitter @RockCreekGroup and on LinkedIn..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/EXC/2023.02.13/ComEd Developing Next Generation of STEM Leaders During Black History Month.txt b/news/EXC/2023.02.13/ComEd Developing Next Generation of STEM Leaders During Black History Month.txt new file mode 100644 index 0000000000000000000000000000000000000000..fd931a332e7484e3185731d8fbbe5d866b5ae72d --- /dev/null +++ b/news/EXC/2023.02.13/ComEd Developing Next Generation of STEM Leaders During Black History Month.txt @@ -0,0 +1,17 @@ + +As part of its annual Black History Month celebration and to help diversify the pipeline of students pursuing careers in science, technology, engineering and math (STEM) fields, ComEd hosted an event in which local Black high school students worked alongside ComEd engineers to build and operate their own robots and explore STEM careers. + +“ComEd is committed to developing a skilled local workforce by providing opportunities for communities that are historically under-represented in STEM to build experience and confidence in this space,” said Melissa Washington, Senior Vice President of Customer Operations at ComEd. “As we move toward a cleaner energy future, we need to build a tech-savvy workforce. We hope that STEM programs like this will inspire students to pursue a STEM-focused career.” + +The event, part of ComEd’s STEM Labs program, engaged seventy Black high school students from across Chicagoland and northern Illinois on Saturday, Feb. 11, at ComEd’s Chicago North facility. They worked in teams with ComEd mentors to build, code and test drive small robots under the guidance of special guest, Dr. Kate Biberdorf, a renowned author, chemist and science educator. In addition to building robots and networking with ComEd mentors and executives, each student received a $250 scholarship upon completing the program. + +Black Americans make up 12% of the U.S. workforce, but only 9% of STEM workers. Additional research shows that only 7% of the STEM workforce comprises Black Americans with at least a bachelor’s degree. Increasing STEM education exposure for Black high school students increases the likelihood they will pursue opportunities that lead to careers in STEM, according to the National Science Foundation. + +ComEd STEM Labs is one of the many programs ComEd sponsors to encourage more students of color and women to pursue STEM careers. Other ComEd programs include the ComEd EV Rally for Chicagoland girls and the Stay in School Initiative, among others. + +Held during the summer, the ComEd EV Rally, an evolution of the ComEd Icebox Derby program, educates and empowers young women to explore careers in STEM and become the innovative workforce of the future. The program provides girls the opportunity to learn about electric vehicles and STEM, connect with female STEM mentors and build electric go-karts. + +Students, parents and educators interested in being notified about upcoming ComEd STEM youth programs and when to apply can submit their email address at: STEMsignUp.com/ComEd. + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information, visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230213005355/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.14/BGE's Energizing Small Business Grants Program Accepting Applications.txt b/news/EXC/2023.02.14/BGE's Energizing Small Business Grants Program Accepting Applications.txt new file mode 100644 index 0000000000000000000000000000000000000000..6b9c59284a0b17897d2716cf8e13d33049915e5d --- /dev/null +++ b/news/EXC/2023.02.14/BGE's Energizing Small Business Grants Program Accepting Applications.txt @@ -0,0 +1 @@ +* Eligible businesses may receive grants of $20,000BALTIMORE, MD -- Small businesses located within BGE's service area can now apply for a BGE Energizing Small Business Grant of $20,000 through March 24, 2023."BGE has a responsibility to support small businesses that continue to face challenges from the far-reaching impacts of the global economic downturn," said Carim Khouzami, president and CEO of BGE. "As a vital contributor to our region's economy, small businesses directly benefit our communities by providing employment opportunities, producing essential products and services, and driving growth and innovation. We look forward to helping more businesses thrive through this program again this year."Since the program's inception in 2021, BGE has awarded a total of $8 million in grants to nearly 400 small businesses.BGE has partnered with Hello Alice, a free, multichannel platform that helps businesses launch and grow, and the Global Entrepreneurship Network to provide the grants. All applicants gain access to Hello Alice's full suite of small business tools and resources. Eligible businesses may receive grants of $20,000 each.How to applyInterested business owners can apply at bge.helloalice.com. For technical assistance while completing the applications, contact alice@helloalice.com.Eligibility detailsApplicants must meet all of the following eligibility requirements to be considered for a BGE Energizing Small Business Grant:* For-profit business located within BGE's service area;* Existing BGE electric and/or gas customer with positive BGE credit history;* In good standing (or on the way to) with the State of Maryland;* Maximum of 25 employees (full-time, part-time, contractors);* Maximum annual gross revenue of $7 million; and* Demonstrated need of funding to support business and serve customers.###About BGEBGE is Maryland's largest natural gas and electric utility, providing safe and reliable energy delivery to more than 1.3 million electric customers and 700,000 natural gas customers in central Maryland. The company was founded in 1816 as the nation's first gas utility and remains headquartered in Baltimore City to this day. BGE is a subsidiary of Exelon Corporation (Nasdaq: EXC), the nation's leading energy utility company. Engage with the latest BGE stories on bgenow.com and connect with BGE on Facebook, Twitter, Instagram, and YouTube..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/EXC/2023.02.14/Exelon : Q4 2022 Earnings Call Presentation Slides.txt b/news/EXC/2023.02.14/Exelon : Q4 2022 Earnings Call Presentation Slides.txt new file mode 100644 index 0000000000000000000000000000000000000000..cb84b0d36dd3b3e3ba8c66c35388096e8a08bfd3 --- /dev/null +++ b/news/EXC/2023.02.14/Exelon : Q4 2022 Earnings Call Presentation Slides.txt @@ -0,0 +1,223 @@ + + + + February 14, 2023 + + + Earnings Conference Call Fourth Quarter 2022 + + + + + + Cautionary Statements Regarding Forward-Looking Information + + + This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to + + + risks and uncertainties. Words such as "could," "may," "expects," "anticipates," "will," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "predicts," "should," and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic, and financial performance, are intended to identify such forward-looking statements. Any reference to "E" after a year or time period indicates the information for that year or time period is an estimate. Any reference to expected average outstanding shares is exclusive of any equity offerings. + + + The factors that could cause actual results to differ materially from the forward-looking statements made by Exelon Corporation, Commonwealth Edison Company, PECO Energy Company, Baltimore Gas and Electric Company, Pepco Holdings LLC, Potomac Electric Power Company, Delmarva Power & Light Company, and Atlantic City Electric Company (Registrants) include those factors discussed herein, as well as the items discussed in (1) the Registrants' 2021 Annual Report on Form 10-K filed with the SEC on February 25, 2022 in Part I, ITEM 1A. Risk Factors; (2) the Registrants' Current Report on Form 8-K filed with the SEC on June 30, 2022 to recast Exelon's consolidated financial statements and certain other financial information originally included in the 2021 Form 10-K in (a) Part II, ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, and (b) Part II, ITEM 8. Financial Statements and Supplementary Data: Note 17, Commitments and Contingencies; (3) the Registrants' Third Quarter 2022 Quarterly Report on Form 10-Q (filed on November 3, 2022) in (a) Part II, ITEM 1A. Risk Factors, (b) Part I, ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations, and (c) Part I, ITEM 1. Financial Statements: Note 13, Commitments and Contingencies; and + + + (4) other factors discussed in filings with the SEC by the Registrants. + + + Investors are cautioned not to place undue reliance on these forward-looking statements, whether written or oral, which apply only as of the date of this presentation. None of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this presentation. + + + + + 2 + + + + + + + Non-GAAP Financial Measures + + + Exelon reports its financial results in accordance with accounting principles generally accepted in the United States (GAAP). Historical results were revised from amounts previously reported to reflect only Exelon continuing operations. Exelon supplements the reporting of financial information determined in accordance with GAAP with certain non-GAAP financial measures, including: + + + +Adjusted operating earnings exclude certain items that are considered by management to be not directly related to the ongoing operations of the business as described in the Appendix + + +Adjusted operating and maintenance expense excludes regulatory operating and maintenance costs for the utility businesses and certain excluded items as set forth in the reconciliation in the Appendix + + +Operating ROE is calculated using operating net income divided by average equity for the period. The operating income reflects all lines of business for the utility business (Electric Distribution, Gas Distribution, Transmission). + + +Adjusted cash from operations primarily includes cash flows from operating activities adjusted for common dividends and change in cash on hand + + + + Due to the forward-looking nature of some forecasted non-GAAP measures, information to reconcile the forecasted adjusted (non-GAAP) measures to the most directly comparable GAAP measure may not be currently available, as management is unable to project all of these items for future periods. + + + This information is intended to enhance an investor's overall understanding of period over period financial results and provide an indication of Exelon's baseline operating performance by excluding items that are considered by management to be not directly related to the ongoing operations of the business. In addition, this information is among the primary indicators management uses as a basis for evaluating performance, allocating resources, setting incentive compensation targets, and planning and forecasting of future periods. + + + These non-GAAP financial measures are not a presentation defined under GAAP and may not be comparable to other companies' presentations. Exelon has provided these non- + + + GAAP financial measures as supplemental information and in addition to the financial measures that are calculated and presented in accordance with GAAP. These non-GAAP measures should not be deemed more useful than, a substitute for, or an alternative to the most comparable GAAP measures provided in the materials presented. + + + Non-GAAP financial measures are identified by the phrase "non-GAAP" or an asterisk (*). Reconciliations of these non-GAAP measures to the most comparable GAAP measures are provided in the appendices and attachments to this presentation. + + + + + 3 + + + + + + + Exelon is Powering a Cleaner and Brighter Future + + + +Delivering Customer Value + + +Strengthening Our Infrastructure + + +Modernizing Energy Delivery Systems + + +Investing in Communities + + + + Exelon's T&D platform is leading the energy transformation, creating value for customers and communities, and supports a projected risk-adjusted~9-11% total return(1) for shareholders + + + (1) Reflects total return proposition as of market close on 12/31/2022. + + + + + 4 + + + + + + + Key Messages + + + + + + Financial and + + + Operational + + + Excellence + + + Rate Case + + + Execution + + + Long-Term + + + Outlook Updates + + + + + +Earned $2.27 per share in 2022, beating guidance(1) by $0.02 per share - ~8% growth off 2021 guidance midpoint(2) + + +Projecting 2023 dividend of $1.44 per share(3) - ~7% growth off 2022 dividend paid + + +Best-on-recordreliability performance at ComEd, PECO and PHI + + +In 2022, successfully completed 4 distribution rate cases across DPL, PECO, and ComEd + + +DPL DE filed an electric distribution rate case on December 14, 2022 + + +ComEd filed its first multi-year plan (MYP) on January 17, 2023 + + +Second MYP filing for BGE with associated reconciliation expected in February 2023 + + +Second MYP filings for Pepco MD and DC with associated reconciliation filings in 1H 2023 + + +Investing ~$31B of capital over 2023-2026 to meet customer needs, driving expected rate base growth of ~8% through 2026 + + +No incremental equity in plan beyond $425M of remaining commitment + + +Projecting 2022 - 2026 Adjusted Operating Earnings* CAGR of 6 - 8%(1) + + +Initiating projected 2023 EPS* of $2.30 - $2.42 per share(4) - ~5% growth off 2022 guidance midpoint(1) + + + + + + + +Based off the midpoint of Exelon's 2022 Adjusted EPS* guidance range of $2.18 - $2.32 as disclosed at Analyst Day in January 2022. + + +Based off the midpoint of Exelon's 2021 Adjusted EPS* guidance range of $2.06 - $2.14 as disclosed at Analyst Day in January 2022. + + +Dividend is subject to approval by Board of Directors. + + +2023 earnings guidance based on expected average outstanding shares of 996M. ComEd's 2023 earnings guidance is based on a forward 30-year Treasury yield as of 1/31/2023. + + + + + + 5 + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Exelon Corporation published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2023 12:01:10 UTC. + + diff --git a/news/EXC/2023.02.14/Exelon : Q4 Earnings Snapshot.txt b/news/EXC/2023.02.14/Exelon : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..d4b2e8cb574cf34922a9f9062b8160594be0a4d2 --- /dev/null +++ b/news/EXC/2023.02.14/Exelon : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +CHICAGO (AP) — CHICAGO (AP) — Exelon Corp. (EXC) on Tuesday reported fourth-quarter net income of $432 million.On a per-share basis, the Chicago-based company said it had profit of 43 cents.The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 43 cents per share.The energy company posted revenue of $4.67 billion in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $4.52 billion.For the year, the company reported profit of $2.05 billion, or $2.08 per share. Revenue was reported as $19.08 billion.Exelon expects full-year revenue in the range of $2.3 million to $2.4 million.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXC at https://www.zacks.com/ap/EXCFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/EXC/2023.02.14/Exelon Reports Fourth Quarter and Full Year 2022 Results and Initiates 2023 Financial O...txt b/news/EXC/2023.02.14/Exelon Reports Fourth Quarter and Full Year 2022 Results and Initiates 2023 Financial O...txt new file mode 100644 index 0000000000000000000000000000000000000000..038a6837c5ab417e823e9c77a22dbac16f641700 --- /dev/null +++ b/news/EXC/2023.02.14/Exelon Reports Fourth Quarter and Full Year 2022 Results and Initiates 2023 Financial O...txt @@ -0,0 +1,19405 @@ + +Exelon Corporation (Nasdaq: EXC) today reported its financial results for the fourth quarter and full year 2022. + +“In 2022, Exelon showcased our ability as a pure transmission and distribution company to deliver on our financial and operational commitments. Because of the partnership with our customers and communities, Exelon is ready to lead the energy transition to a cleaner and brighter future,” said Calvin Butler, Exelon president and CEO. “Our teams are focused on the things that matter to our customers: safety, reliability, sustainability and affordability, while ensuring our actions are grounded in taking an equitable and inclusive approach to the communities we serve. It’s a strong foundation for 2023 and beyond.” + +“We delivered strong financial results in our first year as a new company,” said Jeanne Jones, executive vice president and CFO. “For the full year 2022, we earned $2.08 per share on a GAAP basis and $2.27 on a non-GAAP basis, results that are in the upper half of our guidance range. Over the next four years, Exelon will invest $31 billion to support our jurisdictions’ energy transitions, growing the rate base by 7.9%, and results in our expectations for 6% to 8% annualized growth in operating earnings per share through 2026, off the midpoint of our 2022 guidance. We expect adjusted (non-GAAP) earnings for 2023 of $2.30 - $2.42 per share, in line with the direction provided in our third-quarter earnings call.” + +Fourth Quarter 2022 + +Exelon's GAAP Net Income from Continuing Operations for the fourth quarter of 2022 increased to $0.43 per share from $0.31 GAAP Net Income from Continuing Operations per share in the fourth quarter of 2021. Adjusted (non-GAAP) Operating Earnings for the fourth quarter of 2022 increased to $0.43 per share from $0.39 per share in the fourth quarter of 2021. For the reconciliations of GAAP Net Income from Continuing Operations to Adjusted (non-GAAP) Operating Earnings, refer to the tables beginning on page 5. + +Adjusted (non-GAAP) Operating Earnings in the fourth quarter of 2022 primarily reflect: + +Full Year 2022 + +Exelon's GAAP Net Income from Continuing Operations for 2022 increased to $2.08 per share from $1.65 GAAP Net Income from Continuing Operations per share in 2021. Adjusted (non-GAAP) Operating Earnings for 2022 increased to $2.27 per share from $1.83 per share in 2021. + +Adjusted (non-GAAP) Operating Earnings for the full year 2022 primarily reflect: + +Operating Company Results1 + +ComEd + +ComEd's fourth quarter of 2022 GAAP Net Income increased to $211 million from $133 million in the fourth quarter of 2021. ComEd's Adjusted (non-GAAP) Operating Earnings for the fourth quarter of 2022 increased to $211 million from $138 million in the fourth quarter of 2021, primarily due to increases in electric distribution formula rate earnings (reflecting higher allowed electric distribution ROE due to an increase in treasury rates and the impacts of higher rate base). Due to revenue decoupling, ComEd's distribution earnings are not affected by actual weather or customer usage patterns. + +PECO + +PECO’s fourth quarter of 2022 GAAP Net Income decreased to $102 million from $122 million in the fourth quarter of 2021. PECO's Adjusted (non-GAAP) Operating Earnings for the fourth quarter of 2022 decreased to $102 million from $125 million in the fourth quarter of 2021, primarily due to increases in depreciation expense, credit loss expense, and interest expense, partially offset by distribution rate increases. + +BGE + +BGE’s fourth quarter of 2022 GAAP Net Income decreased to $113 million from $117 million in the fourth quarter of 2021. BGE's Adjusted (non-GAAP) Operating Earnings for the fourth quarter of 2022 decreased to $114 million from $121 million in the fourth quarter of 2021, primarily due to an increase in various expenses, offset by favorable impacts of the multi-year plans. Due to revenue decoupling, BGE's distribution earnings are not affected by actual weather or customer usage patterns. + +PHI + +PHI’s fourth quarter of 2022 GAAP Net Income increased to $90 million from $26 million in the fourth quarter of 2021. PHI’s Adjusted (non-GAAP) Operating Earnings for the fourth quarter of 2022 increased to $90 million from $64 million in the fourth quarter of 2021, primarily due to distribution rate increases, lower contracting costs, and timing of excess deferred tax amortization, partially offset by increases in depreciation expense and credit loss expense. Due to revenue decoupling, PHI's distribution earnings related to Pepco Maryland, DPL Maryland, Pepco District of Columbia, and ACE are not affected by actual weather or customer usage patterns. + +Initiates Annual Guidance for 2023 + +Exelon introduced a guidance range for 2023 Adjusted (non-GAAP) Operating Earnings of $2.30-$2.42 per share. The outlook for 2023 Adjusted (non-GAAP) Operating Earnings for Exelon and its subsidiaries excludes costs related to the separation. + +___________ + +1Exelon’s four business units include ComEd, which consists of electricity transmission and distribution operations in northern Illinois; PECO, which consists of electricity transmission and distribution operations and retail natural gas distribution operations in southeastern Pennsylvania; BGE, which consists of electricity transmission and distribution operations and retail natural gas distribution operations in central Maryland; and PHI, which consists of electricity transmission and distribution operations in the District of Columbia and portions of Maryland, Delaware, and New Jersey and retail natural gas distribution operations in northern Delaware. + +Recent Developments and Fourth Quarter Highlights + +GAAP/Adjusted (non-GAAP) Operating Earnings Reconciliation + +Adjusted (non-GAAP) Operating Earnings for the fourth quarter of 2022 do not include the following items (after tax) that were included in reported GAAP Net Income from Continuing Operations: + +(in millions, except per share amounts) + +Exelon +Earnings per +Diluted +Share + +Exelon + +ComEd + +PECO + +BGE + +PHI + +2022 GAAP Net Income (Loss) from Continuing Operations + +$ + +0.43 + +  + +$ + +432 + +  + +$ + +211 + +$ + +102 + +$ + +113 + +$ + +90 + +Mark-to-Market Impact of Economic Hedging Activities (net of taxes of $1) + +  + +— + +  + +  + +4 + +  + +  + +— + +  + +— + +  + +— + +  + +— + +Asset Impairments (net of taxes of $0) + +  + +— + +  + +  + +1 + +  + +  + +— + +  + +— + +  + +1 + +  + +— + +Separation Costs (net of taxes of $0) + +  + +— + +  + +  + +(1 + +) + +  + +— + +  + +— + +  + +— + +  + +— + +Income Tax-Related Adjustments (entire amount represents tax expense) + +  + +(0.01 + +) + +  + +(8 + +) + +  + +— + +  + +— + +  + +— + +  + +— + +2022 Adjusted (non-GAAP) Operating Earnings + +$ + +0.43 + +  + +$ + +428 + +  + +$ + +211 + +$ + +102 + +$ + +114 + +$ + +90 + +  + +  + +  + +  + +  + +  + +  + +Adjusted (non-GAAP) Operating Earnings for the fourth quarter of 2021 do not include the following items (after tax) that were included in reported GAAP Net Income from Continuing Operations: + +(in millions, except per share amounts) + +Exelon +Earnings per +Diluted +Share + +Exelon + +ComEd + +PECO + +BGE + +PHI + +2021 GAAP Net Income (Loss) from Continuing Operations + +$ + +0.31 + +$ + +309 + +$ + +133 + +$ + +122 + +$ + +117 + +$ + +26 + +COVID-19 Direct Costs (net of taxes of $2, $0, $0, and $1, respectively) + +  + +0.01 + +  + +7 + +  + +— + +  + +1 + +  + +1 + +  + +2 + +ERP System Implementation Costs (net of taxes of $1) + +  + +— + +  + +3 + +  + +— + +  + +— + +  + +— + +  + +— + +Separation Costs (net of taxes of $8, $2, $1, $1, and $1, respectively) + +  + +0.03 + +  + +27 + +  + +5 + +  + +2 + +  + +3 + +  + +4 + +Income Tax-Related Adjustments (entire amount represents tax expense) + +  + +0.04 + +  + +39 + +  + +— + +  + +— + +  + +— + +  + +32 + +2021 Adjusted (non-GAAP) Operating Earnings + +$ + +0.39 + +$ + +385 + +$ + +138 + +$ + +125 + +$ + +121 + +$ + +64 + +  + +  + +  + +  + +  + +  + +  + +Adjusted (non-GAAP) Operating Earnings for the full year of 2022 do not include the following items (after tax) that were included in reported GAAP Net Income from Continuing Operations: + +(in millions, except per share amounts) + +Exelon +Earnings per +Diluted +Share + +Exelon + +ComEd + +PECO + +BGE + +PHI + +2022 GAAP Net Income (Loss) from Continuing Operations + +$ + +2.08 + +$ + +2,054 + +  + +$ + +917 + +$ + +576 + +$ + +380 + +$ + +608 + +  + +Mark-to-Market Impact of Economic Hedging Activities (net of taxes of $1) + +  + +— + +  + +4 + +  + +  + +— + +  + +— + +  + +— + +  + +— + +  + +Asset Retirement Obligation (net of taxes of $2) + +  + +— + +  + +(4 + +) + +  + +— + +  + +— + +  + +— + +  + +(4 + +) + +Asset Impairments (net of taxes of $10) + +  + +0.04 + +  + +38 + +  + +  + +— + +  + +— + +  + +38 + +  + +— + +  + +ERP System Implementation Costs (net of taxes of $0) + +  + +— + +  + +1 + +  + +  + +— + +  + +— + +  + +— + +  + +— + +  + +Separation Costs (net of taxes of $10, $4, $2, $2, and $3, respectively) + +  + +0.02 + +  + +24 + +  + +  + +9 + +  + +4 + +  + +4 + +  + +7 + +  + +Income Tax-Related Adjustments (entire amount represents tax expense) + +  + +0.12 + +  + +122 + +  + +  + +— + +  + +38 + +  + +— + +  + +3 + +  + +2022 Adjusted (non-GAAP) Operating Earnings + +$ + +2.27 + +$ + +2,239 + +  + +$ + +926 + +$ + +619 + +$ + +423 + +$ + +614 + +  + +  + +  + +  + +  + +  + +  + +  + +Adjusted (non-GAAP) Operating Earnings for the full year of 2021 do not include the following items (after tax) that were included in reported GAAP Net Income from Continuing Operations: + +(in millions, except per share amounts) + +Exelon +Earnings per +Diluted +Share + +Exelon + +ComEd + +PECO + +BGE + +PHI + +2021 GAAP Net Income (Loss) from Continuing Operations + +$ + +1.65 + +$ + +1,616 + +$ + +742 + +$ + +504 + +$ + +408 + +$ + +561 + +Mark-to-Market Impact of Economic Hedging Activities (net of taxes of $3) + +  + +— + +  + +4 + +  + +— + +  + +— + +  + +— + +  + +— + +Cost Management Program (net of taxes of $1, $0, $0, and $0) + +  + +0.01 + +  + +6 + +  + +— + +  + +1 + +  + +1 + +  + +1 + +COVID-19 Direct Costs (net of taxes of $6, $2, $1, and $2, respectively) + +  + +0.01 + +  + +14 + +  + +— + +  + +4 + +  + +3 + +  + +4 + +Asset Retirement Obligation (net of taxes of $1) + +  + +— + +  + +2 + +  + +— + +  + +— + +  + +— + +  + +2 + +Acquisition Related Costs (net of taxes of $5) + +  + +0.02 + +  + +15 + +  + +— + +  + +— + +  + +— + +  + +— + +ERP System Implementation Costs (net of taxes of $4, $0, $0, and $0) + +  + +0.01 + +  + +13 + +  + +— + +  + +1 + +  + +1 + +  + +1 + +Separation Costs (net of taxes of $21, $5, $2, $3, and $3, respectively) + +  + +0.06 + +  + +58 + +  + +12 + +  + +6 + +  + +7 + +  + +9 + +Income Tax-Related Adjustments (entire amount represents tax expense) + +  + +0.06 + +  + +62 + +  + +— + +  + +— + +  + +— + +  + +32 + +2021 Adjusted (non-GAAP) Operating Earnings + +$ + +1.83 + +$ + +1,791 + +$ + +754 + +$ + +516 + +$ + +419 + +$ + +609 + +  + +  + +  + +  + +  + +  + +  + +Note: +Amounts may not sum due to rounding. +Unless otherwise noted, the income tax impact of each reconciling item between GAAP Net Income (Loss) from Continuing Operations and Adjusted (non-GAAP) Operating Earnings is based on the marginal statutory federal and state income tax rates for each Registrant, taking into account whether the income or expense item is taxable or deductible, respectively, in whole or in part. For all items, the marginal statutory income tax rates for 2022 and 2021 ranged from 24.0% to 29.0%. + +Webcast Information + +Exelon will discuss fourth quarter 2022 earnings in a conference call scheduled for today at 9 a.m. Central Time (10 a.m. Eastern Time). The webcast and associated materials can be accessed at www.exeloncorp.com/investor-relations. + +About Exelon + +Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon. + +Non-GAAP Financial Measures + +In addition to net income as determined under generally accepted accounting principles in the United States (GAAP), Exelon evaluates its operating performance using the measure of Adjusted (non-GAAP) Operating Earnings because management believes it represents earnings directly related to the ongoing operations of the business. Adjusted (non-GAAP) Operating Earnings exclude certain costs, expenses, gains and losses, and other specified items. This measure is intended to enhance an investor’s overall understanding of period over period operating results and provide an indication of Exelon’s baseline operating performance excluding items that are considered by management to be not directly related to the ongoing operations of the business. In addition, this measure is among the primary indicators management uses as a basis for evaluating performance, allocating resources, setting incentive compensation targets, and planning and forecasting of future periods. Adjusted (non-GAAP) Operating Earnings is not a presentation defined under GAAP and may not be comparable to other companies’ presentation. Exelon has provided the non-GAAP financial measure as supplemental information and in addition to the financial measures that are calculated and presented in accordance with GAAP. Adjusted (non-GAAP) Operating Earnings should not be deemed more useful than, a substitute for, or an alternative to the most comparable GAAP Net Income measures provided in this earnings release and attachments. This press release and earnings release attachments provide reconciliations of Adjusted (non-GAAP) Operating Earnings to the most directly comparable financial measures calculated and presented in accordance with GAAP, are posted on Exelon’s website: www.exeloncorp.com, and have been furnished to the Securities and Exchange Commission on Form 8-K on Feb. 14, 2023. + +Cautionary Statements Regarding Forward-Looking Information + +This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “predicts,” “should,” and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic, and financial performance, are intended to identify such forward-looking statements. + +The factors that could cause actual results to differ materially from the forward-looking statements made by Exelon Corporation, Commonwealth Edison Company, PECO Energy Company, Baltimore Gas and Electric Company, Pepco Holdings LLC, Potomac Electric Power Company, Delmarva Power & Light Company, and Atlantic City Electric Company (Registrants) include those factors discussed herein, as well as the items discussed in (1) the Registrants' 2021 Annual Report on Form 10-K filed with the SEC on February 25, 2022 in Part I, ITEM 1A. Risk Factors; (2) the Registrants' Current Report on Form 8-K filed with the SEC on June 30, 2022 to recast Exelon's consolidated financial statements and certain other financial information originally included in the 2021 Form 10-K in (a) Part II, ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (b) Part II, ITEM 8. Financial Statements and Supplementary Data: Note 17, Commitments and Contingencies; (3) the Registrants' Third Quarter 2022 Quarterly Report on Form 10-Q (filed on Nov. 3, 2022) in (a) Part II, ITEM 1A. Risk Factors, (b) Part I, ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and (c) Part I, ITEM 1. Financial Statements: Note 13, Commitments and Contingencies; and (4) other factors discussed in filings with the SEC by the Registrants. + +Investors are cautioned not to place undue reliance on these forward-looking statements, whether written or oral, which apply only as of the date of this press release. None of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this press release. + +  + +Earnings Release Attachments + +Table of Contents + +  + +Consolidating Statement of Operations + +1 + +  + +  + +Consolidated Balance Sheets + +3 + +  + +  + +Consolidated Statements of Cash Flows + +5 + +  + +  + +Reconciliation of GAAP Net Income from Continuing Operations to Adjusted (non-GAAP) Operating Earnings and Analysis of Earnings + +6 + +  + +  + +Statistics + +  + +ComEd + +10 + +PECO + +11 + +BGE + +13 + +Pepco + +16 + +DPL + +17 + +ACE + +19 + +Consolidating Statements of Operations + +(unaudited) + +(in millions) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +ComEd + +  + +PECO + +  + +BGE + +  + +PHI + +  + +Other (a) + +  + +Exelon + +Three Months Ended December 31, 2022 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Operating revenues + +$ + 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represents tax expense) (4) + +  + +(0.01 + +) + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +(8 + +) + +  + +  + +(8 + +) + +2022 Adjusted (non-GAAP) Operating Earnings (Loss) + +$ + +0.43 + +  + +  + +$ + +211 + +  + +  + +$ + +102 + +  + +  + +$ + +114 + +  + +  + +$ + +90 + +  + +  + +$ + +(89 + +) + +  + +$ + +428 + +  + +Note: +Amounts may not sum due to rounding. +Unless otherwise noted, the income tax impact of each reconciling item between GAAP Net Income from Continuing Operations and Adjusted (non-GAAP) Operating Earnings is based on the marginal statutory federal and state income tax rates for each Registrant, taking into account whether the income or expense item is taxable or deductible, respectively, in whole or in part. For all items, the marginal statutory income tax rates for 2022 and 2021 ranged from 24.0% to 29.0%. + +(a) + +Other primarily includes eliminating and consolidating adjustments, Exelon’s corporate operations, shared service entities, and other financing and investment activities. + +(b) + +For ComEd, BGE, Pepco, DPL Maryland, and ACE, customer rates are adjusted to eliminate the impacts of weather and customer usage on distribution volumes. + +(c) + +For regulatory recovery mechanisms, including ComEd’s distribution formula rate and energy efficiency formula, ComEd, PECO, BGE, and PHI utilities transmission formula rates, and riders across all utilities, revenues increase and decrease i) as fully recoverable costs fluctuate (with no impact on net earnings), and ii) pursuant to changes in rate base, capital structure and ROE (which impact net earnings). + +(1) + +Represents direct costs related to COVID-19 consisting primarily of costs to acquire personal protective equipment, costs for cleaning supplies and services, and costs to hire healthcare professionals to monitor the health of employees, which are recorded in Operating and maintenance expense. + +(2) + +Reflects costs related to a multi-year Enterprise Resource Program (ERP) system implementation, which are recorded in Operating and maintenance expense. + +(3) + +Represents costs related to the separation primarily comprised of system-related costs, third-party costs paid to advisors, consultants, lawyers, and other experts assisting in the separation, and employee-related severance costs, which are recorded in Operating and maintenance expense. + +(4) + +In 2021, for PHI, primarily reflects the recognition of a valuation allowance against a deferred tax asset associated with Delaware net operating loss carryforwards due to a change in Delaware tax law. In 2022, for Corporate, in connection with the separation, Exelon recorded an income tax benefit related to deductible transaction costs. + +(5) + +Reflects costs related to the impairment of an office building at BGE, which are recorded in Operating and maintenance expense. + +(6) + +For ComEd, reflects increased distribution revenues due to higher allowed electric distribution ROE driven by an increase in treasury rates and higher rate base. For PECO, reflects increased revenue primarily due to distribution rate increases. For BGE, reflects increased revenue due to distribution rate increases. For PHI, reflects increased revenue primarily due to distribution rate increases. + +(7) + +For ComEd, reflects increased electric distribution, transmission, and energy efficiency revenues due to higher fully recoverable costs and increased revenues collected related to the Energy Transition Assistance Charge rider that are offset in Other. For PHI, includes the regulatory asset amortization of the ACE Purchase Power Agreement termination obligation recorded in the first quarter of 2022, which is fully recoverable. + +(8) + +Represents Operating and maintenance expense, excluding pension and non-pension postretirement benefits. For ComEd, primarily reflects the absence of the voluntary customer refund related to the ICC investigation of matters identified in the Deferred Prosecution Agreement. For PECO, includes higher contracting costs, an increase in charitable contributions, and an increase in credit loss expense. For BGE, primarily reflects an increase in charitable contributions. For PHI, primarily reflects lower contracting costs partially due to timing of maintenance projects. For Corporate, primarily reflects two offsetting items: 1) lower BSC costs that were historically allocated to Generation but are presented as part of continuing operations in Exelon’s results as these costs do not qualify as expenses of the discontinued operations per the accounting rules and 2) an increase in Operating and maintenance expense with an offsetting increase in other income for costs billed to Constellation for services provided by Exelon through the Transition Services Agreement (TSA). For Corporate, also reflects an increase in charitable contributions. + +(9) + +Reflects ongoing capital expenditures across all utilities. For ComEd, also reflects increased amortization of deferred energy efficiency costs. For PHI, also includes the regulatory asset amortization of the ACE Purchase Power Agreement termination obligation recorded in the first quarter of 2022, which is fully recoverable in Other Energy Delivery. + +(10) + +For ComEd, includes an increase in taxes related to the Energy Transition Assistance Charge rider which are fully recoverable in Other Energy Delivery. For PECO, includes an increase in interest expense. For PHI, reflects the timing of tax expense driven by the timing of excess deferred tax amortization, which reversed at year-end. For Corporate, primarily reflects an increase in other income for costs billed to Constellation for services provided by Exelon through the TSA with an offsetting increase in Operating and maintenance expense and an increase in interest expense. + +(11) + +Reflects the impact on earnings per share due to the increase in Exelon's average diluted common shares outstanding as a result of the August 2022 common stock issuance. + +Exelon + +Reconciliation of GAAP Net Income (Loss) from Continuing Operations to Adjusted (non-GAAP) Operating Earnings and Analysis of Earnings + +Twelve Months Ended December 31, 2022 and 2021 + +(unaudited) + +(in millions, except per share data) + +  + +Exelon + +Earnings + +per Diluted + +Share + +  + +ComEd + +  + +PECO + +  + +BGE + +  + +PHI + +  + +Other (a) + +  + +Exelon + +2021 GAAP Net Income (Loss) from Continuing Operations + +$ + +1.65 + +  + +  + +$ + +742 + +  + +  + +$ + +504 + +  + +  + +$ + +408 + +  + +  + +$ + +561 + +  + +  + +$ + +(599 + 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+  + +  + +1 + +  + +Separation Costs (net of taxes of $4, $2, $2, $3, and $10, respectively) (4) + +  + +0.02 + +  + +  + +  + +9 + +  + +  + +  + +4 + +  + +  + +  + +4 + +  + +  + +  + +7 + +  + +  + +  + +— + +  + +  + +  + +24 + +  + +Income Tax-Related Adjustments (entire amount represents tax expense) (5) + +  + +0.12 + +  + +  + +  + +— + +  + +  + +  + +38 + +  + +  + +  + +— + +  + +  + +  + +3 + +  + +  + +  + +81 + +  + +  + +  + +122 + +  + +2022 Adjusted (non-GAAP) Operating Earnings (Loss) + +$ + +2.27 + +  + +  + +$ + +926 + +  + +  + +$ + +619 + +  + +  + +$ + +423 + +  + +  + +$ + +614 + +  + +  + +$ + +(343 + +) + +  + +$ + +2,239 + +  + +  + +Note: +Amounts may not sum due to rounding. +Unless otherwise noted, the income tax impact of each reconciling item between GAAP Net Income from Continuing Operations and Adjusted (non-GAAP) Operating Earnings is based on the marginal statutory federal and state income tax rates for each Registrant, taking into account whether the income or expense item is taxable or deductible, respectively, in whole or in part. For all items, the marginal statutory income tax rates for 2022 and 2021 ranged from 24.0% to 29.0%. + +  + +(a) + +Other primarily includes eliminating and consolidating adjustments, Exelon’s corporate operations, shared service entities, and other financing and investment activities. + +(b) + +For ComEd, BGE, Pepco, DPL Maryland, and ACE, customer rates are adjusted to eliminate the impacts of weather and customer usage on distribution volumes. + +(c) + +For regulatory recovery mechanisms, including ComEd’s distribution formula rate and energy efficiency formula, ComEd, PECO, BGE, and PHI utilities transmission formula rates, and riders across all utilities, revenues increase and decrease i) as fully recoverable costs fluctuate (with no impact on net earnings), and ii) pursuant to changes in rate base, capital structure and ROE (which impact net earnings). + +(1) + +Represents direct costs related to COVID-19 consisting primarily of costs to acquire personal protective equipment, costs for cleaning supplies and services, and costs to hire healthcare professionals to monitor the health of employees, which are recorded in Operating and maintenance expense. + +(2) + +Reflects certain BSC costs related to the acquisition of Electricite de France SA's (EDF's) interest in CENG, which was completed in the third quarter of 2021, that were historically allocated to Constellation Energy Generation, LLC (Generation) but are presented as part of continuing operations in Exelon’s results as these costs do not qualify as expenses of the discontinued operations per the accounting rules. + +(3) + +Reflects costs related to a multi-year Enterprise Resource Program (ERP) system implementation, which are recorded in Operating and maintenance expense. + +(4) + +Represents costs related to the separation primarily comprised of system-related costs, third-party costs paid to advisors, consultants, lawyers, and other experts assisting in the separation, and employee-related severance costs, which are recorded in Operating and maintenance expense. + +(5) + +In 2021, for PHI, primarily reflects the recognition of a valuation allowance against a deferred tax asset associated with Delaware net operating loss carryforwards due to a change in Delaware tax law. In 2021, for Corporate, reflects the adjustment to deferred income taxes due to changes in forecasted apportionment. In 2022, for PECO, primarily reflects an adjustment to exclude one-time non-cash impacts associated with the remeasurement of deferred income taxes as a result of the reduction in Pennsylvania corporate income tax rate. In 2022, for Corporate, in connection with the separation, Exelon recorded an income tax expense primarily due to the long-term marginal state income tax rate change, the recognition of valuation allowances against the deferred tax assets positions for certain standalone state filing jurisdictions, and nondeductible transaction costs partially offset by a one-time impact associated with a state tax benefit. + +(6) + +Reflects costs related to the impairment of an office building at BGE, which are recorded in Operating and maintenance expense. + +(7) + +For ComEd, reflects increased distribution revenues due to higher allowed electric distribution ROE driven by an increase in treasury rates and higher rate base and increased transmission rates. For PECO, reflects increased revenue primarily due to distribution rate increases. For BGE, reflects increased revenue due to distribution and transmission rate increases. For PHI, reflects increased revenue primarily due to distribution rate increases. + +(8) + +For ComEd, reflects increased electric distribution, transmission, and energy efficiency revenues due to higher fully recoverable costs and increased revenues collected related to the Energy Transition Assistance Charge rider that are offset in Other. For PHI, includes the regulatory asset amortization of the ACE Purchase Power Agreement termination obligation recorded in the first quarter of 2022, which is fully recoverable. + +(9) + +Represents Operating and maintenance expense, excluding pension and non-pension postretirement benefits. For ComEd, reflects higher contracting costs. For PECO, primarily reflects an increase in charitable contributions, an increase in credit loss expense, an increase in contracting and materials costs, and an increase in other various expenses, partially offset by a decrease in storm costs. For BGE, reflects an increase in charitable contributions and an increase in credit loss expense, offset by a decrease in storm costs. For PHI, includes an increase in storm costs and an increase in credit loss expense. For Corporate, primarily reflects two offsetting items: 1) lower BSC costs that were historically allocated to Generation but are presented as part of continuing operations in Exelon’s results as these costs do not qualify as expenses of the discontinued operations per the accounting rules (2022 includes one month of costs for the period prior to the separation compared to twelve months of costs included in 2021) and 2) an increase in Operating and maintenance expense with an offsetting increase in other income for costs billed to Constellation for services provided by Exelon through the Transition Services Agreement (TSA). For Corporate, also reflects an increase in charitable contributions. + +(10) + +Reflects ongoing capital expenditures across all utilities. For ComEd, also reflects increased amortization of deferred energy efficiency costs. For PHI, includes the regulatory asset amortization of the ACE Purchase Power Agreement termination obligation recorded in the first quarter of 2022, which is fully recoverable in Other Energy Delivery. + +(11) + +For ComEd, includes an increase in taxes related to the Energy Transition Assistance Charge rider which are fully recoverable in Other Energy Delivery. For PECO, includes an increase in tax repairs deduction, offset by an increase in interest expense. For BGE and PHI, primarily reflects an increase in interest expense. For Corporate, primarily reflects an increase in other income for costs billed to Constellation for services provided by Exelon through the TSA with an offsetting increase in Operating and maintenance expense and an increase in interest expense. + +(12) + +Reflects the impact on earnings per share due to the increase in Exelon's average diluted common shares outstanding as a result of the August 2022 common stock issuance. + +ComEd Statistics + +Three Months Ended December 31, 2022 and 2021 + +  + +Electric Deliveries (in GWhs) + +  + +Revenue (in millions) + +  + +2022 + +  + +2021 + +  + +% Change + +  + +Weather - +Normal % +Change + +  + +2022 + +  + +2021 + +  + +% Change + +Electric Deliveries and Revenues(a) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential + +5,984 + +  + +6,116 + +  + +(2.2 + +)% + +  + +(4.1 + +)% + +  + +$ + +695 + +  + +  + +$ + +754 + +  + +(7.8 + +)% + +Small commercial & industrial + +7,061 + +  + +7,097 + +  + +(0.5 + +)% + +  + +(1.7 + +)% + +  + +  + +220 + +  + +  + +  + +395 + +  + +(44.3 + +)% + +Large commercial & industrial + +6,543 + +  + +6,464 + +  + +1.2 + +% + +  + +0.7 + +% + +  + +  + +(43 + +) + +  + +  + +139 + +  + +(130.9 + +)% + +Public authorities & electric railroads + +250 + +  + +242 + +  + +3.3 + +% + +  + +1.3 + +% + +  + +  + +7 + +  + +  + +  + +12 + +  + +(41.7 + +)% + +Other(b) + +— + +  + +— + +  + +n/a + +  + +  + +n/a + +  + +  + +  + +237 + +  + +  + +  + +250 + +  + +(5.2 + +)% + +Total electric revenues(c) + +19,838 + +  + +19,919 + +  + +(0.4 + +)% + +  + +(1.6 + +)% + +  + +  + +1,116 + +  + +  + +  + +1,550 + +  + +(28.0 + +)% + +Other Revenues(d) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +110 + +  + +  + +  + +16 + +  + +587.5 + +% + +Total Electric Revenues + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +1,226 + +  + +  + +$ + +1,566 + +  + +(21.7 + +)% + +Purchased Power + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +68 + +  + +  + +$ + +544 + +  + +(87.5 + +)% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +% Change + +Heating and Cooling Degree-Days + +2022 + +  + +2021 + +  + +Normal + +  + +From 2021 + +  + +From Normal + +Heating Degree-Days + +2,091 + +  + +1,783 + +  + +2,139 + +  + +17.3 + +% + +  + +(2.2 + +)% + +Cooling Degree-Days + +19 + +  + +59 + +  + +14 + +  + +(67.8 + +)% + +  + +35.7 + +% + +Twelve Months Ended December 31, 2022 and 2021 + +  + +Electric Deliveries (in GWhs) + +  + +Revenue (in millions) + +  + +2022 + +  + +2021 + +  + +% Change + +  + +Weather - Normal % Change + +  + +2022 + +  + +2021 + +  + +% Change + +Electric Deliveries and Revenues(a) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential + +27,819 + +  + +28,344 + +  + +(1.9 + +)% + +  + +(1.2 + +)% + +  + +$ + +3,304 + +  + +$ + +3,233 + +  + +2.2 + +% + +Small commercial & industrial + +29,766 + +  + +29,707 + +  + +0.2 + +% + +  + +— + +% + +  + +  + +1,173 + +  + +  + +1,571 + +  + +(25.3 + +)% + +Large commercial & industrial + +26,904 + +  + +26,420 + +  + +1.8 + +% + +  + +1.9 + +% + +  + +  + +5 + +  + +  + +559 + +  + +(99.1 + +) % + +Public authorities & electric railroads + +909 + +  + +940 + +  + +(3.3 + +)% + +  + +(3.7 + +)% + +  + +  + +29 + +  + +  + +45 + +  + +(35.6 + +)% + +Other(b) + +— + +  + +— + +  + +n/a + +  + +  + +n/a + +  + +  + +  + +955 + +  + +  + +926 + +  + +3.1 + +% + +Total electric revenues(c) + +85,398 + +  + +85,411 + +  + +— + +% + +  + +0.2 + +% + +  + +  + +5,466 + +  + +  + +6,334 + +  + +(13.7 + +)% + +Other Revenues(d) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +295 + +  + +  + +72 + +  + +309.7 + +% + +Total Electric Revenues + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +5,761 + +  + +$ + +6,406 + +  + +(10.1 + +)% + +Purchased Power + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +1,109 + +  + +$ + +2,271 + +  + +(51.2 + +)% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +% Change + +Heating and Cooling Degree-Days + +2022 + +  + +2021 + +Normal + +  + +From 2021 + +  + +From Normal + +Heating Degree-Days + +6,044 + +  + +5,415 + +6,000 + +  + +11.6 + +% + +  + +0.7 + +% + +Cooling Degree-Days + +1,174 + +  + +1,316 + +1,002 + +  + +(10.8 + +)% + +  + +17.2 + +% + +Number of Electric Customers + +2022 + +  + +2021 + +Residential + +3,723,282 + +  + +3,708,729 + +Small commercial & industrial + +391,298 + +  + +390,546 + +Large commercial & industrial + +1,890 + +  + +1,870 + +Public authorities & electric railroads + +4,858 + +  + +4,832 + +Total + +4,121,328 + +  + +4,105,977 + +__________ + +(a) + +Reflects revenues from customers purchasing electricity directly from ComEd and customers purchasing electricity from a competitive electric generation supplier, as all customers are assessed delivery charges. For customers purchasing electricity from ComEd, revenues also reflect the cost of energy and transmission. + +(b) + +Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue. + +(c) + +Includes operating revenues from affiliates totaling $2 million and $22 million for the three months ended December 31, 2022 and 2021, respectively, and $16 million and $41 million for the twelve months ended December 31, 2022 and 2021, respectively. + +(d) + +Includes alternative revenue programs and late payment charges. + +PECO Statistics + +Three Months Ended December 31, 2022 and 2021 + +  + +Electric and Natural Gas Deliveries + +  + +Revenue (in millions) + +  + +2022 + +  + +2021 + +  + +% Change + +  + +Weather- + +Normal + +% Change + +  + +2022 + +  + +2021 + +  + +% Change + +Electric (in GWhs) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Electric Deliveries and Revenues(a) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  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For customers purchasing electricity from PECO, revenues also reflect the cost of energy and transmission. + +(b) + +Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue. + +(c) + +Includes operating revenues from affiliates totaling $2 million and $15 million for the three months ended December 31, 2022 and 2021, respectively, and $7 million and $20 million for the twelve months ended December 31, 2022 and 2021, respectively. + +(d) + +Includes alternative revenue programs and late payment charges. + +(e) + +Reflects delivery volumes and revenues from customers purchasing natural gas directly from PECO and customers purchasing natural gas from a competitive natural gas supplier as all customers are assessed distribution charges. For customers purchasing natural gas from PECO, revenue also reflects the cost of natural gas. + +(f) + +Includes revenues primarily from off-system sales. + +(g) + +Includes operating revenues from affiliates totaling less than $1 million and less than $1 million for the three months ended December 31, 2022 and 2021, respectively, and less than $1 million and $1 million for the twelve months ended December 31, 2022 and 2021, respectively. + +BGE Statistics + +Three Months Ended December 31, 2022 and 2021 + +  + +Electric and Natural Gas Deliveries + +  + +Revenue (in millions) + +  + +2022 + +  + +2021 + +  + +% Change + +  + +Weather- + +Normal + +% Change + +  + +2022 + +  + +2021 + +  + +% Change + +Electric (in GWhs) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Electric Deliveries and Revenues(a) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential + +3,038 + +  + +2,862 + +  + +6.1 + +% + +  + +(0.9 + +)% + +  + +$ + +406 + +  + 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For customers purchasing electricity from BGE, revenues also reflect the cost of energy and transmission. + +(b) + +Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue. + +(c) + +Includes operating revenues from affiliates totaling $2 million and $3 million for the three months ended December 31, 2022 and 2021, respectively, and $7 million and $13 million for the twelve months ended December 31, 2022 and 2021, respectively. + +(d) + +Includes alternative revenue programs and late payment charges. + +(e) + +Reflects delivery volumes and revenues from customers purchasing natural gas directly from BGE and customers purchasing natural gas from a competitive natural gas supplier as all customers are assessed distribution charges. For customers purchasing natural gas from BGE, revenue also reflects the cost of natural gas. + +(f) + +Includes revenues primarily from off-system sales. + +(g) + +Includes operating revenues from affiliates totaling $1 million and $7 million for the three months ended December 31, 2022 and 2021, respectively, and $8 million and $18 million for the twelve months ended December 31, 2022 and 2021. + +Pepco Statistics + +Three Months Ended December 31, 2022 and 2021 + +  + +Electric Deliveries (in GWhs) + +  + +Revenue (in millions) + +  + +2022 + +  + +2021 + +  + +% Change + +  + +Weather- + +Normal + +% Change + +  + +  + +2022 + +  + +  + +  + +2021 + +  + +  + +% Change + +Electric Deliveries and Revenues(a) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential + +1,772 + +  + +1,789 + +  + +(1.0 + +)% + +  + +(3.2 + +)% + +  + +$ + +250 + +  + +  + +$ + +218 + +  + +  + +14.7 + +% + +Small commercial & industrial + +258 + +  + +253 + +  + +2.0 + +% + +  + +0.2 + +% + +  + +  + +38 + +  + +  + +  + +34 + +  + +  + +11.8 + +% + +Large commercial & industrial + +3,298 + +  + +3,320 + +  + +(0.7 + +)% + +  + +(0.4 + +) % + +  + +  + +277 + +  + +  + +  + +229 + +  + +  + +21.0 + +% + +Public authorities & electric railroads + +166 + +  + +111 + +  + +49.5 + +% + +  + +49.5 + +% + +  + +  + +9 + +  + +  + +  + +7 + +  + +  + +28.6 + +% + +Other(b) + +— + +  + +— + +  + +n/a + +  + +  + +n/a + +  + +  + +  + +51 + +  + +  + +  + +51 + +  + +  + +— + +% + +Total electric revenues(c) + +5,494 + +  + +5,473 + +  + +0.4 + +% + +  + +(0.3 + +)% + +  + +  + +625 + +  + +  + +  + +539 + +  + +  + +16.0 + +% + +Other Revenues(d) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +(13 + +) + +  + +  + +(1 + +) + +  + +1,200.0 + +% + +Total Electric Revenues + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +612 + +  + +  + +$ + +538 + +  + +  + +13.8 + +% + +Purchased Power + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +228 + +  + +  + +$ + +153 + +  + +  + +49.0 + +% + +  + +  + +  + +  + +  + +  + +  + +% Change + +Heating and Cooling Degree-Days + +2022 + +  + +2021 + +  + +Normal + +  + +From 2021 + +  + +From Normal + +Heating Degree-Days + +1,376 + +  + +1,111 + +  + +1,341 + +  + +23.9 + +% + +  + +2.6 + +% + +Cooling Degree-Days + +25 + +  + +94 + +  + +53 + +  + +(73.4 + +)% + +  + +(52.8 + +)% + +Twelve Months Ended December 31, 2022 and 2021 + +  + +Electric Deliveries (in GWhs) + +  + +Revenue (in millions) + +  + +2022 + +  + +2021 + +  + +% Change + +  + +Weather- + +Normal + +% Change + +  + +2022 + +  + +2021 + +  + +% Change + +Electric Deliveries and Revenues(a) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential + +8,162 + +  + +8,284 + +  + +(1.5 + +)% + +  + +(1.9 + +)% + +  + +$ + +1,076 + +  + +  + +$ + +1,003 + +  + +7.3 + +% + +Small commercial & industrial + +1,113 + +  + +1,137 + +  + +(2.1 + +)% + +  + +(2.6 + +)% + +  + +  + +155 + +  + +  + +  + +135 + +  + +14.8 + +% + +Large commercial & industrial + +13,797 + +  + +13,411 + +  + +2.9 + +% + +  + +2.8 + +% + +  + +  + +1,083 + +  + +  + +  + +844 + +  + +28.3 + +% + +Public authorities & electric railroads + +617 + +  + +617 + +  + +— + +% + +  + +0.1 + +% + +  + +  + +34 + +  + +  + +  + +31 + +  + +9.7 + +% + +Other(b) + +— + +  + +— + +  + +n/a + +  + +  + +n/a + +  + +  + +  + +208 + +  + +  + +  + +205 + +  + +1.5 + +% + +Total electric revenues(c) + +23,689 + +  + +23,449 + +  + +1.0 + +% + +  + +0.8 + +% + +  + +  + +2,556 + +  + +  + +  + +2,218 + +  + +15.2 + +% + +Other Revenues(d) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +(25 + +) + +  + +  + +56 + +  + +(144.6 + +)% + +Total Electric Revenues + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +2,531 + +  + +  + +$ + +2,274 + +  + +11.3 + +% + +Purchased Power + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +834 + +  + +  + +$ + +624 + +  + +33.7 + +% + +  + +  + +  + +  + +  + +  + +  + +% Change + +Heating and Cooling Degree-Days + +2022 + +  + +2021 + +  + +Normal + +  + +From 2021 + +  + +From Normal + +Heating Degree-Days + +3,732 + +  + +3,454 + +  + +3,770 + +  + +8.0 + +% + +  + +(1.0 + +)% + +Cooling Degree-Days + +1,746 + +  + +1,817 + +  + +1,749 + +  + +(3.9 + +)% + +  + +(0.2 + +)% + +Number of Electric Customers + +2022 + +  + +2021 + +Residential + +856,037 + +  + +841,831 + +Small commercial & industrial + +54,339 + +  + +54,216 + +Large commercial & industrial + +22,841 + +  + +22,568 + +Public authorities & electric railroads + +197 + +  + +181 + +Total + +933,414 + +  + +918,796 + +__________ + +(a) + +Reflects revenues from customers purchasing electricity directly from Pepco and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from Pepco, revenues also reflect the cost of energy and transmission. + +(b) + +Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue. + +(c) + +Includes operating revenues from affiliates totaling $1 million for both the three months ended December 31, 2022 and 2021, and $5 million for both the twelve months ended December 31, 2022 and 2021. + +(d) + +Includes alternative revenue programs and late payment charge revenues. + +DPL Statistics + +Three Months Ended December 31, 2022 and 2021 + +  + +Electric and Natural Gas Deliveries + +  + +Revenue (in millions) + +  + +2022 + +  + +2021 + +  + +% Change + +  + +Weather - + +Normal + +% Change + +  + +  + +2022 + +  + +  + +  + +2021 + +  + +  + +% Change + +Electric (in GWhs) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Electric Deliveries and Revenues(a) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential + +1,189 + +  + +1,168 + +  + +1.8 + +% + +  + +(2.4 + +)% + +  + +$ + +180 + +  + +  + +$ + +158 + +  + +  + +13.9 + +% + +Small commercial & industrial + +553 + +  + +553 + +  + +— + +% + +  + +(0.9 + +)% + +  + +  + +63 + +  + +  + +  + +48 + +  + +  + +31.3 + +% + +Large commercial & industrial + +1,043 + +  + +1,061 + +  + +(1.7 + +)% + +  + +(1.4 + +)% + +  + +  + +37 + +  + +  + +  + +24 + +  + +  + +54.2 + +% + +Public authorities & electric railroads + +11 + +  + +11 + +  + +— + +% + +  + +1.5 + +% + +  + +  + +4 + +  + +  + +  + +4 + +  + +  + +— + +% + +Other(b) + +— + +  + +— + +  + +n/a + +  + +  + +n/a + +  + +  + +  + +60 + +  + +  + +  + +57 + +  + +  + +5.3 + +% + +Total electric revenues(c) + +2,796 + +  + +2,793 + +  + +0.1 + +% + +  + +(1.7 + +)% + +  + +  + +344 + +  + +  + +  + +291 + +  + +  + +18.2 + +% + +Other Revenues(d) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +(5 + +) + +  + +  + +(1 + +) + +  + +400.0 + +% + +Total Electric Revenues + +  + +  + +  + +  + +  + +  + +  + +  + +  + +339 + +  + +  + +  + +290 + +  + +  + +16.9 + +% + +Natural Gas (in mmcfs) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Natural Gas Deliveries and Revenues(e) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential + +2,899 + +  + +2,408 + +  + +20.4 + +% + +  + +3.2 + +% + +  + +  + +49 + +  + +  + +  + +30 + +  + +  + +63.3 + +% + +Small commercial & industrial + +1,294 + +  + +1,100 + +  + +17.6 + +% + +  + +2.7 + +% + +  + +  + +20 + +  + +  + +  + +13 + +  + +  + +53.8 + +% + +Large commercial & industrial + +438 + +  + +432 + +  + +1.4 + +% + +  + +1.5 + +% + +  + +  + +3 + +  + +  + +  + +2 + +  + +  + +50.0 + +% + +Transportation + +1,762 + +  + +1,781 + +  + +(1.1 + +)% + +  + +(5.5 + +)% + +  + +  + +4 + +  + +  + +  + +4 + +  + +  + +— + +% + +Other(g) + +— + +  + +— + +  + +n/a + +  + +  + +n/a + +  + +  + +  + +4 + +  + +  + +  + +1 + +  + +  + +300.0 + +% + +Total natural gas revenues + +6,393 + +  + +5,721 + +  + +11.7 + +% + +  + +0.4 + +% + +  + +  + +80 + +  + +  + +  + +50 + +  + +  + +60.0 + +% + +Other Revenues(f) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +— + +  + +  + +  + +— + +  + +  + +n/a + +  + +Total Natural Gas Revenues + +  + +  + +  + +  + +  + +  + +  + +  + +  + +80 + +  + +  + +  + +50 + +  + +  + +60.0 + +% + +Total Electric and Natural Gas Revenues + +  + +  + +  + +  + +  + +$ + +419 + +  + +  + +$ + +340 + +  + +  + +23.2 + +% + +Purchased Power and Fuel + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +199 + +  + +  + +$ + +137 + +  + +  + +45.3 + +% + +Electric Service Territory + +  + +  + +  + +  + +  + +  + +% Change + +Heating and Cooling Degree-Days + +2022 + +  + +2021 + +  + +Normal + +  + +From 2021 + +  + +From Normal + +Heating Degree-Days + +1,547 + +  + +1,323 + +  + +1,559 + +  + +16.9 + +% + +  + +(0.8 + +)% + +Cooling Degree-Days + +13 + +  + +56 + +  + +35 + +  + +(76.8 + +)% + +  + +(62.9 + +)% + +Natural Gas Service Territory + +  + +  + +  + +  + +  + +  + +% Change + +Heating Degree-Days + +2022 + +  + +2021 + +  + +Normal + +  + +From 2021 + +  + +From Normal + +Heating Degree-Days + +1,600 + +  + +1,391 + +  + +1,647 + +  + +15.0 + +% + +  + +(2.9 + +) % + +Twelve Months Ended December 31, 2022 and 2021 + +  + +Electric and Natural Gas Deliveries + +  + +Revenue (in millions) + +  + +2022 + +  + +2021 + +  + +% Change + +  + +Weather - 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For customers purchasing electricity from DPL, revenues also reflect the cost of energy and transmission. + +(b) + +Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue. + +(c) + +Includes operating revenues from affiliates totaling $1 million and $2 million for the three months ended December 31, 2022 and 2021, and $6 million and $7 million for the twelve months ended December 31, 2022 and 2021, respectively. + +(d) + +Includes alternative revenue programs and late payment charges. + +(e) + +Reflects delivery volumes and revenues from customers purchasing natural gas directly from DPL and customers purchasing natural gas from a competitive natural gas supplier as all customers are assessed distribution charges. For customers purchasing natural gas from DPL, revenue also reflects the cost of natural gas. + +(f) + +Includes revenues primarily from off-system sales. + +ACE Statistics + +Three Months Ended December 31, 2022 and 2021 + +  + +Electric Deliveries (in GWhs) + +  + +Revenue (in millions) + +  + +2022 + +  + +2021 + +  + +% Change + +  + +Weather - + +Normal + +% Change + +  + +2022 + +  + +2021 + +  + +% Change + +Electric Deliveries and Revenues(a) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential + +838 + +  + +777 + +  + +7.9 + +% + +  + +7.4 + +% + +  + +$ + +152 + +  + +  + +$ + +141 + +  + +7.8 + +% + +Small commercial & industrial + +320 + +  + +336 + +  + +(4.8 + +)% + +  + +(5.5 + +)% + +  + +  + +47 + +  + +  + +  + +47 + +  + +— + +% + +Large commercial & industrial + +707 + +  + +795 + +  + +(11.1 + +)% + +  + +(11.2 + +)% + +  + +  + +50 + +  + +  + +  + +46 + +  + +8.7 + +% + +Public authorities & electric railroads + +13 + +  + +13 + +  + +— + +% + +  + +6.5 + +% + +  + +  + +4 + +  + +  + +  + +3 + +  + +33.3 + +% + +Other(b) + +— + +  + +— + +  + +n/a + +  + +  + +n/a + +  + +  + +  + +63 + +  + +  + +  + +71 + +  + +(11.3 + +)% + +Total electric revenues(c) + +1,878 + +  + +1,921 + +  + +(2.2 + +)% + +  + +(2.5 + +)% + +  + +  + +316 + +  + +  + +  + +308 + +  + +2.6 + +% + +Other Revenues(d) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +(5 + +) + +  + +  + +1 + +  + +(600.0 + +)% + +Total Electric Revenues + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +311 + +  + +  + +$ + +309 + +  + +0.6 + +% + +Purchased Power + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +127 + +  + +  + +$ + +154 + +  + +(17.5 + +)% + +  + +  + +  + +  + +  + +  + +  + +% Change + +Heating and Cooling Degree-Days + +2022 + +  + +2021 + +  + +Normal + +  + +From 2021 + +  + +From Normal + +Heating Degree-Days + +1,623 + +  + +1,373 + +  + +1,565 + +  + +18.2 + +% + +  + +3.7 + +% + +Cooling Degree-Days + +12 + +  + +38 + +  + +32 + +  + +(68.4 + +)% + +  + +(62.5 + +)% + +Twelve Months Ended December 31, 2022 and 2021 + +  + +Electric Deliveries (in GWhs) + +  + +Revenue (in millions) + +  + +2022 + +  + +2021 + +  + +% Change + +  + +Weather - + +Normal + +% Change + +  + +2022 + +  + +2021 + +  + +% Change + +Electric Deliveries and Revenues(a) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Residential + +4,131 + +  + +4,220 + +  + +(2.1 + +)% + +  + +(2.4 + +)% + +  + +$ + +764 + +  + +  + +$ + +744 + +  + +2.7 + +% + +Small commercial & industrial + +1,499 + +  + +1,409 + +  + +6.4 + +% + +  + +6.2 + +% + +  + +  + +217 + +  + +  + +  + +193 + +  + +12.4 + +% + +Large commercial & industrial + +3,103 + +  + +3,146 + +  + +(1.4 + +)% + +  + +(1.5 + +)% + +  + +  + +202 + +  + +  + +  + +185 + +  + +9.2 + +% + +Public authorities & electric railroads + +47 + +  + +46 + +  + +2.2 + +% + +  + +1.8 + +% + +  + +  + +15 + +  + +  + +  + +13 + +  + +15.4 + +% + +Other(b) + +— + +  + +— + +  + +n/a + +  + +  + +n/a + +  + +  + +  + +252 + +  + +  + +  + +229 + +  + +10.0 + +% + +Total electric revenues(c) + +8,780 + +  + +8,821 + +  + +(0.5 + +)% + +  + +(0.7 + +)% + +  + +  + +1,450 + +  + +  + +  + +1,364 + +  + +6.3 + +% + +Other Revenues(d) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +(19 + +) + +  + +  + +24 + +  + +(179.2 + +)% + +Total Electric Revenues + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +1,431 + +  + +  + +$ + +1,388 + +  + +3.1 + +% + +Purchased Power + +  + +  + +  + +  + +  + +  + +  + +  + +$ + +624 + +  + +  + +$ + +694 + +  + +(10.1 + +)% + +  + +  + +  + +  + +  + +  + +  + +% Change + +Heating and Cooling Degree-Days + +2022 + +  + +2021 + +  + +Normal + +  + +From 2021 + +  + +From Normal + +Heating Degree-Days + +4,629 + +  + +4,256 + +  + +4,589 + +  + +8.8 + +% + +  + +0.9 + +% + +Cooling Degree-Days + +1,243 + +  + +1,284 + +  + +1,210 + +  + +(3.2 + +)% + +  + +2.7 + +% + +Number of Electric Customers + +  + +2022 + +  + +2021 + +Residential + +  + +502,247 + +  + +499,628 + +Small commercial & industrial + +  + +62,246 + +  + +61,900 + +Large commercial & industrial + +  + +3,051 + +  + +3,156 + +Public authorities & electric railroads + +  + +734 + +  + +717 + +Total + +  + +568,278 + +  + +565,401 + +__________ + +(a) + +Reflects delivery volumes and revenues from customers purchasing electricity directly from ACE and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from ACE, revenues also reflect the cost of energy and transmission. + +(b) + +Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue. + +(c) + +Includes operating revenues from affiliates totaling less than $1 million and $1 million for the three months ended December 31, 2022 and 2021, respectively, and $2 million for both the twelve months ended December 31, 2022 and 2021. + +(d) + +Includes alternative revenue programs. + +  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005335/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.14/Exelon announces upcoming changes to its Board of Directors.txt b/news/EXC/2023.02.14/Exelon announces upcoming changes to its Board of Directors.txt new file mode 100644 index 0000000000000000000000000000000000000000..529a934a35ba5696c4c2ac26cbb0ddf0b00c63fd --- /dev/null +++ b/news/EXC/2023.02.14/Exelon announces upcoming changes to its Board of Directors.txt @@ -0,0 +1,29 @@ + +Exelon (NASDAQ: EXC) today announced its Board will nominate two new Board candidates, Charisse R. Lillie and Matthew C. Rogers, to shareholders at the upcoming April 25, 2023, Annual Shareholders Meeting. Directors Paul Joskow, Ann Berzin and Carlos Gutierrez will be leaving the Board at the end of their terms and will not stand for re-election. + +Charisse Lillie, 70, is CEO of CRL Consulting, LLC, a Philadelphia-based firm offering consulting services in corporate governance, diversity and corporate social responsibility. Lillie held the role of executive vice president of Community Investment for Comcast Corporation where she oversaw corporate giving, while also leading the work of the Comcast Foundation as president for eight years (2008-2016). She also served as the head of Comcast Human Resources from 2005 to 2008. Lillie previously served as director of the Federal Reserve Bank of Philadelphia and was a partner with Ballard Spahr Andrews & Ingersoll, LLP, where she chaired the firm’s Litigation Department from 2002 to 2005. Prior to that, Lillie spent several years in public service in roles that included City Solicitor for the City of Philadelphia’s Law Department, General Counsel to the Redevelopment of the City of Philadelphia and Assistant United States Attorney for the District of Pennsylvania, Civil Division. She taught law at Villanova School of Law and was deputy director at Community Legal Services, Inc., a provider of free civil legal assistance to low-income Philadelphians. Early in her career, Lillie was a trial attorney in the Honors Program at the U.S. Department of Justice in the Civil Rights Division, after working as a law clerk for the Honorable Clifford Scott Green, U.S. District Court Judge for the Eastern District of Pennsylvania. + +Lillie has been a member of the PECO board since 2010, but will cease serving as a PECO director upon her election to the Exelon Board. A Philadelphia native, Lillie holds a bachelor’s degree in Government and History from Wesleyan University, a Juris Doctorate from Temple University School of Law and a Master of Laws degree from Yale University. + +Matt Rogers, 60, is an operating partner for Ajax Strategies LLC, a venture capital firm seeking to invest in technologies that reduce greenhouse gas emissions. He served as CEO of the Mission Possible Partnership, supporting public and private sector partnerships working in the industry transition toward achieving net-zero greenhouse gas emissions by 2050. Prior to that, he was a senior partner at McKinsey & Company, where he led their Electric Power, Oil & Gas and Sustainability practices. He also led the Department of Energy’s $31 billion Recovery Act program and co-authored the book, Resource Revolution: Capturing the Biggest Business Opportunity in 100 Years. Rogers has been a long-time resident of northern California and holds a bachelor’s degree in Politics from Princeton University and an MBA from Yale. + +“Charisse Lillie’s years of experience in law, public service and corporate community investment and her experience on PECO’s Board, together with Matt Rogers’ work in sustainability and the energy transition will bring fresh perspectives and a greater focus on the clean energy transformation and its benefit to our customers and the communities we serve,” said Calvin Butler, president and CEO of Exelon. “We are indebted to Ann Berzin, Paul Joskow and Secretary Carlos Gutierrez for their leadership and contributions to the Board’s work during their tenures.” + +Current Exelon Board member Paul Joskow has reached the mandatory retirement age, as provided in Exelon’s Corporate Governance Principles, and has tendered notice of his retirement. In addition, Board members Ann Berzin and Secretary Carlos Gutierrez will not seek re-election this spring. + +Joskow has been an Exelon director since 2007 and has brought to the Board his experience and knowledge in energy and environmental economics, governmental regulation and other key areas that have benefited the company and its shareholders. He also has provided invaluable insights as a member of numerous Exelon Board committees. + +Berzin has been an Exelon director since 2012, when she joined the Exelon Board as part of the Constellation merger after having served as a member of the Constellation Board since 2008. Her executive leadership expertise and experience in the financial markets have been essential to Exelon and its stakeholders. During her tenure, Berzin has served in two leadership roles, first as Chair of Exelon’s Risk Committee and then as Chair of the Audit and Risk Committee. + +Gutierrez has served as an Exelon director since 2021. He has brought valuable and key insights and experience to Exelon based on his background in government and corporate leadership, and served as a member of the Audit and Risk, and Compensation Committees. + +“The Board has benefited from the wisdom and experience that Paul, Ann and Carlos have each shared during their tenures as experts in their chosen fields,” said John F. Young, Chair of the Exelon Board. “This proved particularly helpful during the separation of Constellation Energy and Exelon and undoubtedly played a role in its success. We are truly grateful for all their contributions.” + +All members of the Exelon board, except the president and CEO, are independent directors under applicable law and the listing standards of The Nasdaq Global Select Market, which are incorporated into the Exelon Corporate Governance Principles. + +More information about Exelon's board is available at exeloncorp.com. + +About Exelon + +Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005837/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.14/Marketmind: Wings of a Dove.txt b/news/EXC/2023.02.14/Marketmind: Wings of a Dove.txt new file mode 100644 index 0000000000000000000000000000000000000000..3fbbf2ea85926eb48af27de1b88b42bbff230aa6 --- /dev/null +++ b/news/EXC/2023.02.14/Marketmind: Wings of a Dove.txt @@ -0,0 +1 @@ +With markets wary of just how much tough love the Federal Reserve will have to show the economy to get inflation back under wraps, the exit of one of the central bank's leading policy doves may rankle.U.S. President Joe Biden is expected on Tuesday to name Fed Vice Chair Lael Brainard to a top White House economic policy position, replacing National Economic Council Director Brian Deese. Biden confidant Jared Bernstein is expected to replace Cecilia Rouse as chair of the Council of Economic Advisers.Brainard was seen as a powerful voice cautioning against over-aggressive Fed policy tightening. Her departure will shift the balance of power on the Federal Open Market Committee at a critical time as it could take months for the Senate to confirm her successor.All other Fed governors and permanent FOMC members are viewed as hawkish on monetary policy right now, with Tuesday's critical consumer price inflation (CPI) report now the next test of just how many more interest rate rises may be agreed before the Fed hits peak rates.Analysts expect the headline CPI to rise 0.5% in January, with the core number seen advancing 0.4%, compared with 0.3% in the previous month, according to a Reuters poll. However, annual consumer price inflation likely eased to 6.2%, from 6.5% in December.Revisions to December's CPI numbers last week and recalculations around seasonal adjustments of the data mean today's outcome is tricky to call and could see considerable market volatility.With Wall Street stocks rallying sharply again on Monday, it appears investors are going into the number leaning on hopes of another positive surprise on disinflation. That could cut across the rates rethink that's followed the blockbuster January employment report and which has seen futures market pricing agree with the Fed's central assumption of a terminal rate just above 5% around midyear.As it stands, Fed futures now see the terminal rate at 5.2% in July, compared to the current policy target range of 4.5-4.75%, and they still factor in only about a quarter point cut to around 4.90% by yearend - something the Fed is also increasingly pushing back on.Economists polled by Reuters over the past week reckon the Fed will raise rates at least twice more in coming months, with the balance of risks that they go even higher. Some 46 of 86 economists in the Feb. 8-Feb. 13 survey predicted the U.S. central bank will go for two more 25 basis point hikes in March and May.U.S. stock futures and world equities were higher on Tuesday, U.S. Treasury yields and the dollar were steady to lower. Elsewhere, Japan's government named academic Kazuo Ueda as its pick to become next central bank governor, possibly heightening the chance of an end to its unpopular yield control policy. Ueda, a 71-year-old former Bank of Japan policy board member, will succeed incumbent Haruhiko Kuroda, whose second, five-year term ends on April 8, according to documents presented to parliament on Tuesday.Euro zone economic growth slowed in the last three months of 2022 but avoided a contraction many had predicted for months.In corporate news, Thyssenkrupp's shares dropped almost 6% as the German warship-to-car parts conglomerate said operating profit fell by a third in the first quarter - in part because its wholesale business was hit by falling cost of steel.And in investment, Allianz, one of the world's biggest investors, said it planned to exit "alternative" investments for plain vanilla bonds.Key developments that may provide direction to U.S. markets later on Tuesday:* U.S. Jan consumer price index, NFIB small business survey * New York Federal Reserve President John Williams, Dallas Fed President Lorrie Logan, Philadelphia Fed chief Patrick Harker, Richmond Fed chief Thomas Barkin all speak* European finance ministers meet in Brussels* U.S. corp earnings: Coca-Cola, Airbnb, Marriott, First Quantum Minerals, Akamai Technologies, Devon Energy, Eversource Energy, Zoetis, Leidos, Exelon, Ecolab (By Mike Dolan, editing by Tomasz Janowski mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/EXC/2023.02.15/Accessing ComEd Bill Assistance is Easier Than Ever.txt b/news/EXC/2023.02.15/Accessing ComEd Bill Assistance is Easier Than Ever.txt new file mode 100644 index 0000000000000000000000000000000000000000..5eb292ac6f121d1dc8715c5d09000d66ded0a0c3 --- /dev/null +++ b/news/EXC/2023.02.15/Accessing ComEd Bill Assistance is Easier Than Ever.txt @@ -0,0 +1,15 @@ + +As challenging economic conditions persist, ComEd recognizes there are customers across northern Illinois in need of assistance with their electric bills. For this reason, ComEd reminds customers of its Smart Assistance Manager (SAM), an easy-to-use, online system that presents customers with a growing range of grants and bill-payment options that can keep them connected to safe and reliable electric service. + +Tools like SAM build on ComEd’s work to manage costs, which has contributed to an average monthly customer bill of $93 that is among the lowest in the nation, and residential customer bills that are approximately 20 percent lower than the average for the 10 largest U.S. metropolitan areas. + +“ComEd is proud to provide superior service and value to our customers, but we recognize that, while our bills are relatively low, some customers still struggle and need assistance,” said Nichole Owens, vice president of customer channels, ComEd. “That’s why we continually monitor economic conditions and enhance our assistance offerings to customers in need – whether a customer received help in the past or needs assistance for the first time. We created SAM so that customers had a one-stop-shop to easily sort through their options and connect with the solutions that best fit their needs.” + +By accessing SAM at ComEd.com/SAM, customers can simply key in a few details about their home, such as energy usage and billing history. SAM then does the work of sorting through the many options available and matches customers with the payment-assistance programs for which they may eligible now, and provides recommendations on energy-efficiency offerings that can save customers money and energy into the future. + +Assistance and energy-saving options + +By accessing SAM, customers can receive information – and be connected to – support and savings programs such as: + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005660/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.16/ComEd Encourages Illinois Students to Apply for College Scholarships of Up to $10,000 E...txt b/news/EXC/2023.02.16/ComEd Encourages Illinois Students to Apply for College Scholarships of Up to $10,000 E...txt new file mode 100644 index 0000000000000000000000000000000000000000..75c40207319df43e764a43987f9769c0a722e30f --- /dev/null +++ b/news/EXC/2023.02.16/ComEd Encourages Illinois Students to Apply for College Scholarships of Up to $10,000 E...txt @@ -0,0 +1,21 @@ + +ComEd today announced it has awarded scholarships to seven diverse students who plan to pursue energy careers through its Future of Energy Scholars Program and is now accepting applications for the next round of scholarships. Since the program’s launch in 2022, ComEd has awarded more than $350,000 in scholarships to 69 women and minorities who are pursuing degrees in STEM as they aspire to careers in the energy industry. Today through March 31, 2023, students in Illinois can apply for scholarships of up to $10,000 each and the opportunity to intern with ComEd. + +“ComEd is proud to invest in the future leaders of our industry. This group of young women and men represent the diverse and inclusive workforce we are dedicated to building and maintaining,” said Lewis Binswanger, ComEd senior vice president of governmental and regulatory affairs. “In the very near future, Illinois is projected to gain tens of thousands of good-paying jobs as a result of the transition to a clean energy future, and we must ensure that women and young people of color benefit from this economic opportunity. This next generation of leaders will play a vital role in helping us build an equitable and clean energy future.” + +ComEd announced today that the following college students, representing diverse backgrounds and interests, are the latest recipients of the Future of Energy Scholarship. They all plan to pursue a career in the energy industry. The scholarship recipients are: + +To be eligible for the Future of Energy scholarship, students must be enrolled in an eligible college degree program, have a minimum 2.8 GPA, and submit an application. Priority consideration will be given to people of color and women, Illinois residents enrolled in an Illinois university or college or Historically Black Colleges and Universities (HBCUs) across the country, and those demonstrating financial need. ComEd is partnering with the National Energy Education Development (NEED) Project to administer the scholarship fund. + +“We are honored to continue our partnership with ComEd for the Future of Energy Scholarships for students interested in a career in the exciting and expanding energy industry. The students who are awarded these scholarships reflect the diversity of a growing energy industry and STEM as a whole,” said Mary Spruill, Executive Director of The NEED Project. “The work ethic, talent, and curiosity embodied in each of the scholarship recipients will shape the future of the energy industry for many years.” + +Pandit, a junior at the University of Illinois Chicago, is studying industrial engineering. She was previously an intern with ComEd and is now a scholarship awardee. She decided on a career in energy because of the critical role it plays in the future. Following graduation, she plans to pursue a master’s degree and return to the energy sector full-time. + +“After the internship I had with ComEd, I became even more interested in the whole energy sector and how things work,” said Pandit. “I personally feel like energy plays an important role in the future when we think about a resilient and sustainable economy and world and especially for my generation. I like the idea of innovating and making things better. I also hope to bring more women of color into the industry.” + +The Future of Energy program builds on ComEd's continued investments in training and education to develop a diverse, local talent pipeline. In addition to the Future of Energy program, ComEd supports many initiatives that inspire students to pursue STEM careers, including the DePaul College Prep Scholars Program, Chicago BUILDS, and more. As a result of these investments, over 2,000 participants were served by the ComEd-sponsored workforce and education programs last year alone. + +For more information or to apply for the ComEd Future of Energy STEM scholarship, visit: https://need.force.com/ComEd/s/scholarship-information. For more information on ComEd's STEM scholarship opportunities, contact WorkforceDevelopment@ComEd.com. + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005534/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.17/Exelon Energy Delivery Companies ACE, BGE, ComEd, Delmarva Power, PECO and Pepco Helped...txt b/news/EXC/2023.02.17/Exelon Energy Delivery Companies ACE, BGE, ComEd, Delmarva Power, PECO and Pepco Helped...txt new file mode 100644 index 0000000000000000000000000000000000000000..d935d8128fe8e6ef7068ae1962db3b55b2854754 --- /dev/null +++ b/news/EXC/2023.02.17/Exelon Energy Delivery Companies ACE, BGE, ComEd, Delmarva Power, PECO and Pepco Helped...txt @@ -0,0 +1,15 @@ + +Exelon (Nasdaq: EXC) and its energy delivery companies—Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), ComEd, Delmarva Power, PECO and Pepco—joined other advocates in Washington, D.C., yesterday to support LIHEAP Action Day. The annual event engages and educates policymakers about the need to fund the Low-Income Home Energy Assistance Program (LIHEAP) at the highest level possible in order the meet the needs of low-income households and the most vulnerable, including seniors, those with disabilities and children. The event was organized by the National Energy & Utility Affordability Coalition (NEUAC). + +“Energy affordability is a real concern for many of our customers, especially those who live below the poverty line. For them, LIHEAP is a lifeline that protects them from dangerous cold or heat and keeps electricity and gas flowing to their homes,” said Calvin Butler, president and CEO of Exelon. “Exelon teams were able to help connect more than a million eligible customers to more than $1 billion in energy assistance over the past two years, including LIHEAP funds. They also work continuously to share energy saving practices and other important bill management programs with customers to help them control energy costs. Helping to keep energy costs as affordable as possible is just one more way Exelon is powering a cleaner and brighter future for our customers.” + +In 2022 alone, Exelon helped connect nearly 470,000 eligible customers to $589.2 million in energy assistance, of which $379.13 million, or 64 percent of the funds, were from LIHEAP. Below are the energy assistance totals by Exelon company and the corresponding LIHEAP amounts and percentages: + +Since the start of the pandemic, Exelon has continually looked for ways to robustly fund energy assistance and support state and local agencies, collaborating on effective delivery of available resources. The company recognizes sustained access to a financial backstop—and an innovative approach to getting the word out about energy assistance—helps customers prevent disconnection of service, helps families maintain safe and stable housing and restores dignity by helping customers pay bills in full and on time. Some of those efforts include: + +More information about National LIHEAP Action Day 2022 is available at neuac.org. + +About Exelon + +Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005797/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.20/BGE's Multi-Year Energy Infrastructure Plan Ensures Safe and Reliable Energy for Custom...txt b/news/EXC/2023.02.20/BGE's Multi-Year Energy Infrastructure Plan Ensures Safe and Reliable Energy for Custom...txt new file mode 100644 index 0000000000000000000000000000000000000000..b26df9d8673882855311a51eb01d6ce083000fce --- /dev/null +++ b/news/EXC/2023.02.20/BGE's Multi-Year Energy Infrastructure Plan Ensures Safe and Reliable Energy for Custom...txt @@ -0,0 +1 @@ +*Proposed infrastructure projects are vital for the continued safe and reliable delivery of energy to customers across central Maryland*Planned work is aligned with the State of Maryland's long-term energy goals*Requested rate increase would result in total bill growth rate of less than 1.5% per year since 2008*Proposed work will inject nearly $36 billion into local economy and support 72,000 jobsBALTIMORE - Today, BGE filed a multi-year energy infrastructure investment plan with the Maryland Public Service Commission (PSC) designed to continue improvements that will enhance reliability, safety, and resiliency of the electric and natural gas systems serving 1.3 million electric customers and 700,000 natural gas customers in central Maryland.Covering the years 2024 through 2026, the plan details how BGE will invest nearly $2.3 billion annually in the electric grid and natural gas system and nearly $400 million total in electric vehicle and building efficiency programs. These investments will inject nearly $36 billion into the local economy and support an estimated 72,000 jobs, as well as generate more than $8 billion in labor income and $1.7 billion in tax revenue for the State of Maryland as calculated by the Regional Economic Studies Institute of Towson University."Our customers, whether they are residential, small businesses, or industrial, are becoming more reliant on safe and reliable energy to power their lives and livelihoods. At the same time, we are facing more and varied threats to the resiliency of our infrastructure, including cyber intrusions and more frequent severe weather brought by climate change," said Carim Khouzami, BGE's President and CEO. "The energy infrastructure investments we make now will ensure we can continue to meet our customers' needs and begin to lay the foundation for the State of Maryland to reach its goal of net zero emissions by 2045. We have designed our plan to meet these challenges, while delivering the greatest impact possible to central Maryland through steady work for our suppliers and contractors and our continued community impact efforts."As BGE makes investments in the energy systems serving customers, the company is focused on working with local and diverse businesses. Last year, BGE spent $497 million with diverse businesses, of which $262 million was with diverse firms located in Maryland. This continues a trend of BGE annually increasing work with local and diverse suppliers and complements workforce development initiatives to expand local training and hiring programs.BGE's energy infrastructure plan includes more than 300 projects and maintenance programs for the period 2024-2026. Examples include:*Enhancing energy infrastructure supporting the reliability needs of customers throughout central Maryland and the growth of important economic development sites.*Installing smart automation equipment to identify and circumvent damage to the electric grid and reduce the frequency and duration of power outages faster for our customers.*Replacing outmoded technologies, such as limited capacity 4kV electric systems to improve reliability, enable greater adoption of solar energy and electric vehicle charging and increased capacity in areas where redevelopment adds additional customer demand.*Preparing the grid for extreme weather and threat-actor actions with continued tree trimming and vegetation management and cyber security enhancements to improve resiliency against manmade and natural threats to mitigate risk to our customers.*Replacing more natural gas pipeline segments and installing over-pressurization protection equipment to improve safety and reliability for our customers while reducing greenhouse gas emissions by more than 210,000 metric tons annually.Customers are benefiting from infrastructure investments by BGE. The number of outages a customer experiences has decreased 40 percent since 2008 and when customers do experience a service interruption, their power is restored 36 percent faster today. Hundreds of miles of natural gas pipes are being replaced at an accelerated pace, which results in a safer, more efficient gas system that will reduce greenhouse gas emissions by more than 210,000 metric tons annually-the equivalent of taking 45,000 gasoline-powered cars off the road. In addition, under an amended agreement with Baltimore City, BGE will work to improve the City's conduit system infrastructure enabling more reliable service for the City at ultimately a lower cost to customers.The multi-year plan structure enables BGE to spread costs of the investments across several years. For the average residential combined electric and gas customer's monthly bill over the course of the three years, the plan would result in an average annual increase of $10.36 or 5.0%. With this increase, the average residential customer's total BGE bill growth rate since 2008 would be 1.4% per year, which is significantly below the rate of inflation.As a reminder, just one out of five customers who are eligible for energy assistance have applied for and are receiving this financial support. Customers who may be challenged by the energy costs can visit bge.com/assistancefinder to learn more.Utility multi-year plans provide the PSC with planned utility investments in advance for review and approval. The multi-year plan review process is a public process led by the PSC, an independent state commission, that ensures transparency, public input, and fair rates for all customers. A decision on the current proposed plan is expected from the PSC in December 2023.More information on BGE's multi-year plan is available at bge.com.###About BGEBGE is Maryland's largest natural gas and electric utility, providing safe and reliable energy delivery to more than 1.3 million electric customers and 700,000 natural gas customers in central Maryland. The company was founded in 1816 as the nation's first gas utility and remains headquartered in Baltimore City to this day. BGE is a subsidiary of Exelon Corporation (Nasdaq: EXC), the nation's leading energy utility company. Engage with the latest BGE stories on bgenow.com and connect with BGE on Facebook, Twitter, Instagram, and YouTube..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/EXC/2023.02.20/Young Women in Illinois Can Apply to Build, Race Electric-Powered Racecars in ComEd EV ...txt b/news/EXC/2023.02.20/Young Women in Illinois Can Apply to Build, Race Electric-Powered Racecars in ComEd EV ...txt new file mode 100644 index 0000000000000000000000000000000000000000..495a59543859fd9901d3d9ce5e9fa8ddcce3f5b5 --- /dev/null +++ b/news/EXC/2023.02.20/Young Women in Illinois Can Apply to Build, Race Electric-Powered Racecars in ComEd EV ...txt @@ -0,0 +1,25 @@ + +With Women’s History Month just around the corner, ComEd is excited to announce the return of its signature science, technology, engineering and math (STEM) program for future women’s history-makers, the ComEd EV Rally. Young women in Illinois can now apply to participate in the annual summer event, a competition that challenges teen girls to build and race high-tech, electric-powered go-carts. This year, ComEd is increasing the number of participants to 45, from 30 last year, who will work with women from ComEd to explore career pathways in STEM. + +The application is open to any female Illinois resident between the ages of 13 and 18. Applications are available at ComEdEVRally.com; the application period will close on Thursday, June 1. + +“ComEd is committed to improving the representation of women and people of color in the STEM fields, and we are excited to connect these driven young women with leaders throughout ComEd who are looking to inspire the next generation of the STEM workforce,” said Michelle Blaise, senior vice president of technical services at ComEd. “The future depends on these STEM leaders to develop and champion clean energy technology, fight the effects of climate change and support transportation electrification—and this program is sure to spark the interest of these young women.” + +Selected participants will work and learn from ComEd mentors, connect with peers from other communities and apply their STEM knowledge while building an electric vehicle (EV). The program will culminate with a once-in-a-lifetime experience as participants race their vehicles at the Museum of Science and Industry in Chicago on Saturday, July 29. Every participant will receive a $2,000 scholarship upon completion of the program. + +The increased adoption of EVs will play a large role in the clean energy future, enabling carbon-reductions and air pollution while creating economic opportunity. ComEd’s recently proposed multi-year plans include a variety of investments to enable transportation electrification, which align with the state’s goal of putting 1 million EVs on Illinois’ roads by 2030. This program will give participants first-hand experience with EVs and educate them on the value of zero-emissions vehicles that represent the future of cleaner transportation. + +ComEd representatives will be onsite at the Chicago Auto Show during Family Day on Monday, Feb. 20, to speak with interested participants and begin collecting applications for this summer program. + +Today, women make up 50 percent of the workforce, yet hold only 27 percent of jobs in STEM fields in Illinois, according to a study by the Illinois Science & Technology Coalition. To help diversify the future STEM workforce, ComEd supports a variety of programs throughout the year designed to increase minority representation in STEM, including ComEd STEM Labs and Create a Spark. + +Learn more about this program at ComEdEVRally.com. + +Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube. + +  + +  + +  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230220005176/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.22/ComEd Restores Power to 55,000 Customers Following Damaging Ice Storms.txt b/news/EXC/2023.02.22/ComEd Restores Power to 55,000 Customers Following Damaging Ice Storms.txt new file mode 100644 index 0000000000000000000000000000000000000000..ca25fe330dd25030590df7a99ce77ef5d22cb76a --- /dev/null +++ b/news/EXC/2023.02.22/ComEd Restores Power to 55,000 Customers Following Damaging Ice Storms.txt @@ -0,0 +1,17 @@ + +After significant ice storms moved through northern Illinois Wednesday afternoon, ComEd crews have restored power to more than 55,000 customers. The hardest hit areas are the north and northwest areas of Illinois. About 100,000 customers remain without power as of 8 pm while ComEd and contractor crews work 24/7 in challenging conditions to restore service to all remaining customers as quickly and safely as possible. + +Following the ice storms today, high winds with gusts of up to 50 miles per hour are expected tomorrow, which can tear down frozen trees and branches, damaging ComEd equipment and leading to additional power outages. The combination of widespread ice and high winds mean it likely will take multiple days to restore all customers affected by the storms. ComEd is calling in additional crews from other states to help restore power to customers more quickly. + +“The layer of ice covering trees, roads and our equipment creates hazards for our crews and can contribute to additional power outages well after the storm has passed,” said Terence R. Donnelly, president and COO of ComEd. “We know losing electric service is frustrating, and we thank everyone for their patience as we work safely to repair damaged equipment and get the power flowing again for all of our customers.” + +ComEd has been investing in power grid upgrades and tree trimming to minimize the impact of storms. Since smart grid upgrades began in 2011, ComEd has avoided more than 19 million power outages – saving more than $3.3 billion in outage-related costs – and improved overall reliability by more than 80 percent. In 2022, ComEd delivered its best reliability ever and was recognized with the ReliabilityOne Award for having the most resilient power grid in the U.S. + +ComEd prioritizes repairs that will bring back the greatest number of customers at once, and focuses on critical services, such as hospitals, senior centers, law enforcement and fire departments. Crews then move to restoration of individual outages. The following tips and information encourage customers to stay safe following severe weather: + +Customers can sign up for Outage Alerts at ComEd.com/Alerts or text OUT to 26633 to report their outage and receive restoration information about when their power may be restored. + +ComEd also offers a mobile app for iPhone® and Android™® smart phones that gives customers the ability to report power outages and manage their accounts. In addition, customers can report outages through ComEd’s Facebook and Twitter pages. + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230222006098/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.22/Exelon Named to Fortune's Most Admired Companies List.txt b/news/EXC/2023.02.22/Exelon Named to Fortune's Most Admired Companies List.txt new file mode 100644 index 0000000000000000000000000000000000000000..0136294f4a2ae10e90d347c3f71c4080c5b46023 --- /dev/null +++ b/news/EXC/2023.02.22/Exelon Named to Fortune's Most Admired Companies List.txt @@ -0,0 +1,21 @@ + +Exelon (Nasdaq: EXC), the nation’s largest energy delivery company, has been named to Fortune magazine’s list of the World’s Most Admired Companies for the 15th consecutive year. Fortune ranks companies on criteria from investment value and quality of management and products to social responsibility and the ability to attract talent. + +“Being selected for this distinction is a testament to our 19,000 employees who live our purpose of powering a cleaner and brighter future for our customers and communities every day," said Calvin Butler, Exelon president and CEO. "Our commitment to our communities extends beyond providing a reliable and resilient grid. We are partners in our communities helping to ensure a clean, equitable and affordable energy future is accessible to all of our customers." + +In this year’s ranking, Exelon scored highest in the categories of corporate social responsibility and quality of products and services. Here are just a few examples of our work in those areas: + +Exelon continues to invest in the energy grid, resulting in record reliability for customers, and will invest $31.3 billion over the next four years to update and modernize the infrastructure, finding ways to incorporate distributed energy resources like solar into the grid while also investing in new technologies like microgrids, including the one in the ComEd Bronzeville Community of the Future. Exelon’s transportation electrification program is well underway, with infrastructure investments like EV charging stations to meet the growing need for electric vehicles. + +Launched in 2021, Exelon’s $36 million Racial Equity Capital Fund (RECF) helps minority businesses obtain capital to fuel growth and spur job opportunities in communities often overlooked by investors and traditional funding sources. Exelon also has more than 75 unique workforce development programs across its six utilities, designed to bring economic equity, empowerment and employment opportunity to under-resourced communities. + +Exelon’s $20 million, 10-year Climate Change Investment Initiative (2c2i) integrates the companies’ dual commitments to both community investments and the need to invest in new products and technologies. Now in its fourth year, 2c2i enables the company to fund startups developing innovative technologies and solutions to help mitigate the impact of climate change, benefiting the communities and customers served by the company, particularly those in underserved communities, which are disproportionately impacted by climate change. + +In partnership with the Exelon Foundation, Exelon is helping bridge the color and gender gap in STEM fields with the STEM Academy, a free, week-long program for high school juniors and seniors, held in Chicago, Philadelphia and the Baltimore/D.C. area. The Green Lab Grants program provides $1 million in grants of up to $50,000 each for high schools and STEM-focused nonprofits to create and update educational spaces for STEM education. Both programs serve high school students from primarily under-resourced communities. + +In addition to this honor, Exelon has been named to: + +About Exelon + +Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230222005359/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.22/Prominent Maryland Leaders Join BGE Board.txt b/news/EXC/2023.02.22/Prominent Maryland Leaders Join BGE Board.txt new file mode 100644 index 0000000000000000000000000000000000000000..e23b14c40856ddb3be4594f745d5ba9697f9bda6 --- /dev/null +++ b/news/EXC/2023.02.22/Prominent Maryland Leaders Join BGE Board.txt @@ -0,0 +1 @@ +Keith Lee, chief executive officer, chief investment officer, and senior portfolio manager at Brown Capital Management; Byron Marchant, partner at Caldwell Partners International; Rachel Garbow Monroe, president and CEO of The Harry and Jeanette Weinberg Foundation; and Tim Regan, president and CEO of Whiting-Turner Contracting Company bring diverse skills and backgrounds to help guide BGE.BALTIMORE - BGE announced the appointment of four members to its board of directors: Keith Lee, chief executive officer, chief Investment officer, and senior portfolio manager at Brown Capital Management; Byron Marchant, partner at Caldwell Partners International; Rachel Garbow Monroe, president and CEO of The Harry and Jeanette Weinberg Foundation; and Tim Regan, president and CEO of Whiting-Turner Contracting Company."We're fortunate to have these four accomplished individuals joining BGE's board of directors," said Calvin Butler, Chairman of the Board and Exelon's Vice President and Chief Executive Officer. "Their experience, diverse perspectives, and success in different fields will enable them to play pivotal roles on our team as we continue powering a cleaner and brighter future.""I am proud to welcome these incredible leaders to our board of directors," said Carim Khouzami, Vice-Chair of the Board and President and CEO of BGE. "Their unique backgrounds and expertise will provide invaluable insights to help advance our work to bring safe and reliable power to our customers. More importantly, they are all great people who bring a deep understanding of central Maryland and the people who live here."In addition to being the chief executive officer, chief investment officer, and senior portfolio manager at Brown Capital Management, Lee is also a member of the board of directors and chairman of the Management Committee at Brown Capital Management. Lee is a trustee of the Board of Visitors of the University of Maryland Baltimore County and a member of the Board of Governors of The Center Club of Baltimore. He is a former member of the Loyola University-Maryland Sellinger School of Business and Management Board of Sponsors and a former trustee of the Baltimore Museum of Art, where he served on the museum's investment committee. He holds a B.A. degree from the University of Virginia and an MBA from the University of Virginia Darden School of Business.Prior to joining Caldwell, Marchant served as president and CEO of the US Naval Academy Alumni and Foundation for over 13 years. He was in the submarine service before transferring to the Naval Reserve in 1984, where he fulfilled numerous assignments in the Naval Reserve Intelligence program and attained the rank of commander in the U.S. Naval Reserves. Marchant is a life member of the U.S. Naval Academy Alumni Association and a trustee of the Naval Academy Athletics and Scholarship Foundation. He also serves as a director of the Naval War College Foundation, the YMCA of Central Maryland, the Baltimore Community Foundation, the National Sailing Museum, and the Sailing Hall of Fame. He also serves as an honorary board member of the Chesapeake Bay Foundation. He holds a B.S. degree from the U.S. Naval Academy and earned his J.D. from the University of Virginia Law School.Monroe joined The Harry and Jeanette Weinberg Foundation in 2005 as its first-ever chief operating officer and was promoted to president and CEO in 2010. The Foundation provides approximately $150 million in grants each year across the United States and Israel. Monroe also sits on the boards of Laurel Strategies and the Kolker-Saxon-Hallock Family Foundation. She earned a Bachelor of Arts from Northwestern University and a Master of Management from its J.L. Kellogg School of Management.Regan joined Whiting-Turner in 1980 as a project engineer. He worked on utility, public works and heavy industrial projects for several years including water, wastewater, power, and waste-to-energy projects. In the early 1990s, Regan helped expand Whiting-Turner's presence in the life sciences industries, including biotechnology, pharmaceutical processing, and various federal laboratory clients. Regan serves on the boards of the Greater Baltimore Committee, the Board of Visitors of the University of Maryland, College Park School of Engineering, and the University of Maryland, College Park Foundation Board of Trustees. Tim is also the co-founder of TouchPoint Baltimore, which works to disrupt the historic isolation in the underserved West Baltimore community of Mondawmin. He is a graduate of Baltimore Polytechnic Institute and earned his B.S. in civil engineering at the University of Maryland, College Park.Lee, Marchant, Monroe, and Regan join current BGE board members James R. Curtiss, Esq., retired partner of Winston & Strawn; Amy Tang Seto, partner and endowments and foundations senior advisor at Brown Advisory; and Maria Harris Tildon, vice president for state and local affairs at Johns Hopkins University and Johns Hopkins Medicine.###About BGEBGE is Maryland's largest natural gas and electric utility, providing safe and reliable energy delivery to more than 1.3 million electric customers and 700,000 natural gas customers in central Maryland. The company was founded in 1816 as the nation's first gas utility and remains headquartered in Baltimore City to this day. BGE is a subsidiary of Exelon Corporation (Nasdaq: EXC), the nation's leading energy utility company. Engage with the latest BGE stories on bgenow.com and connect with BGE on Facebook, Twitter, Instagram, and YouTube..(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/EXC/2023.02.23/ComEd Restores Power to 88 Percent of Customers Following Damaging Ice Storms and High ...txt b/news/EXC/2023.02.23/ComEd Restores Power to 88 Percent of Customers Following Damaging Ice Storms and High ...txt new file mode 100644 index 0000000000000000000000000000000000000000..4b1aaf8869a5f87603e8ad0ebb046d649a88a720 --- /dev/null +++ b/news/EXC/2023.02.23/ComEd Restores Power to 88 Percent of Customers Following Damaging Ice Storms and High ...txt @@ -0,0 +1,21 @@ + +ComEd has restored power to approximately 204,700 customers throughout the communities it serves, or more than 88 percent of customers affected by severe ice storms that moved through northern Illinois Wednesday and Thursday. Icy conditions followed by high winds damaged trees and equipment, causing power outages for approximately 231,000 customers. + +Nearly 2,200 ComEd and contractor crew members have been working around the clock to restore power to customers. This includes 900 additional crew members from utilities from across the region who arrived Thursday to support ComEd’s safe and swift recovery efforts. + +“We recognize any outage is frustrating to our customers and we thank them for their patience as crews work in challenging conditions to restore service as quickly as we can,” said Terence R. Donnelly, president and COO of ComEd. “This storm left significant damage to counties west of Chicago and along the Illinois-Wisconsin border. As we continue to restore power to customers in the hardest-hit communities, the safety of our customers and our crews remains our top priority.” + +The combination of widespread ice and high winds has led to a multi-day recovery effort to restore all the customers affected by this storm. Layers of ice on trees, roads and equipment create additional hazards for utility crews leading to additional outages and longer restoration times well after the storm has passed. While a majority of impacted customers have been restored, a small number of customer outages in pockets with the most significant damage may last until late Saturday night, Feb. 25. As of 8 p.m. Thursday, Feb. 23, approximately 26,000 customers remain without service. + +ComEd has been investing in power grid upgrades and tree trimming to minimize the impact of storms. Since smart grid upgrades began in 2011, ComEd has avoided more than 19 million power outages – saving more than $3.3 billion in outage-related costs – and improved overall reliability by more than 80 percent. In 2022, ComEd delivered its best reliability ever and was recognized with the ReliabilityOne Award for having the most resilient power grid in the U.S. + +ComEd prioritizes attention on repairs that will bring back the greatest number of customers, and focuses on critical services, such as law enforcement, fire departments, hospitals and senior centers. Crews then move to restoration of individual outages. + +The following tips and information encourage customers to stay safe following severe weather: + +Customers can sign up for Outage Alerts at ComEd.com/Alerts or text OUT to 26633 to report their outage and receive restoration information about when their power may be restored. + +ComEd also offers a mobile app for iPhone® and Android™® smart phones that gives customers the ability to report power outages and manage their accounts. In addition, customers can report outages through ComEd’s Facebook and Twitter pages. + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230223006060/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.23/ComEd Restores Power to Nearly 134,000 Customers Following Damaging Ice Storms.txt b/news/EXC/2023.02.23/ComEd Restores Power to Nearly 134,000 Customers Following Damaging Ice Storms.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d2302faaa6177f5c2c8ecc8c8e894abd748214e --- /dev/null +++ b/news/EXC/2023.02.23/ComEd Restores Power to Nearly 134,000 Customers Following Damaging Ice Storms.txt @@ -0,0 +1,21 @@ + +Despite the challenge of working in icy conditions, ComEd crews have restored power to nearly 134,000 customers throughout the communities it serves after severe ice storms moved through northern Illinois Wednesday and Thursday. + +The storms damaged trees and equipment, causing power outages for approximately 216,000 customers. Nearly 1,700 ComEd and contractor crews will be working around the clock to restore power to customers. ComEd expects that power will be restored to 80 percent of customers by 11 p.m. Thursday, Feb. 23. To support this restoration goal, ComEd has called upon utilities from across the region, and 900 additional crew members will arrive in Illinois today to support safe and swift recovery efforts. + +“At ComEd, our hard-working field forces train for challenging conditions, and that training has certainly been put to the test today as they work around the clock to safely restore power to our customers in these icy and windy conditions,” said Terence R. Donnelly, president and COO of ComEd. “We recognize that any outage is frustrating to our customers, especially during freezing conditions, and we thank them for their patience as we work to restore the remaining outages as quickly as we can.” + +The combination of widespread ice and high winds has led to a multi-day recovery effort to restore all the customers affected by this storm. Layers of ice on trees, roads and equipment create additional hazards for utility crews leading to additional outages and longer restoration times well after the storm has passed. While many impacted customers have been restored, some customer outages in pockets with the most significant damage may last until late Saturday night, Feb. 25, or early Sunday morning, Feb. 26. As of 9 a.m. Thursday, Feb. 23, nearly 82,000 customers remain without service. + +ComEd has been investing in power grid upgrades and tree trimming to minimize the impact of storms. Since smart grid upgrades began in 2011, ComEd has avoided more than 19 million power outages – saving more than $3.3 billion in outage-related costs – and improved overall reliability by more than 80 percent. In 2022, ComEd delivered its best reliability ever and was recognized with the ReliabilityOne Award for having the most resilient power grid in the U.S. + +ComEd prioritizes attention on repairs that will bring back the greatest number of customers, and focuses on critical services, such as law enforcement, fire departments, hospitals and senior centers. Crews then move to restoration of individual outages. + +The following tips and information encourage customers to stay safe following severe weather: + +Customers can sign up for Outage Alerts at ComEd.com/Alerts or text OUT to 26633 to report their outage and receive restoration information about when their power may be restored. + +ComEd also offers a mobile app for iPhone® and Android™® smart phones that gives customers the ability to report power outages and manage their accounts. In addition, customers can report outages through ComEd’s Facebook and Twitter pages. + +ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005872/en/ \ No newline at end of file diff --git a/news/EXC/2023.02.28/Exelon : Long-Term Debt As of December 31, 2022.txt b/news/EXC/2023.02.28/Exelon : Long-Term Debt As of December 31, 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..892b7e2e159e4235f9b9a8fd0bdd721fe24720f6 --- /dev/null +++ b/news/EXC/2023.02.28/Exelon : Long-Term Debt As of December 31, 2022.txt @@ -0,0 +1,7813 @@ + + + + Exelon Corporation Long-Term Debt + + + As of December 31, 2022 + + + + + + Exelon Corporation + + + + + + + + Interest + + + + + Date + + + + + Maturity + + + + + Call / Put + + + + + Call + + + + + Total Debt + + + + + Current + + + + + Long-Term + + + + + + + Series + + + + + Rate + + + + + Issued + + + + + Date + + + + + Date + + + + + Price + + + + + Outstanding + + 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Amounts may not add due to rounding + + + (a) Other includes capital lease obligations, unamoritized debt issuance costs, and unamortized debt discount/premium + + + + + + + + Exelon Long-Term Debt as of December 31, 2022 + + + + + 5 + + + + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Exelon Corporation published this content on 28 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2023 05:14:00 UTC. + + diff --git a/news/EXC/2023.03.01/Exelon Teams Win EPRI 2022 Technology Transfer Awards for Innovation.txt b/news/EXC/2023.03.01/Exelon Teams Win EPRI 2022 Technology Transfer Awards for Innovation.txt new file mode 100644 index 0000000000000000000000000000000000000000..8a9cf522dfc7788a451fa8b46ef0dd5338b461d5 --- /dev/null +++ b/news/EXC/2023.03.01/Exelon Teams Win EPRI 2022 Technology Transfer Awards for Innovation.txt @@ -0,0 +1,41 @@ + +Five project teams led by Exelon (Nasdaq: EXC) engineers and innovators have been selected to receive Electric Power Research Institute’s (EPRI) 2022 Technology Transfer Awards, which recognize leaders and innovators who have applied EPRI research to help transform the future of energy and create a cleaner and brighter future for customers and communities. + +This year, Exelon teams won five of 21 awards in the Power Delivery and Utilization sector – a significant achievement. From unmanned night aircraft for storm response to an automated tool for complex distribution planning, the teams’ innovative thinking is helping Exelon lead the energy transformation. + +“Congratulations to these outstanding teams for their dedication and leadership in their collaboration with EPRI,” said Sunny Elebua, senior vice president and Chief Strategy and Sustainability Officer of Exelon. “Their hard work and ingenuity reflect Exelon’s culture of innovation and help to prove the value of collaborative research in creating a more sustainable, efficient, affordable and reliable grid for our customers and communities.” + +The Exelon award winners, who were honored at a virtual celebration last week, have shown exceptional application of research and technology in solving a problem of size and significance, championing a technology both within their companies and across the industry, driving progress in the electricity sector, and providing meaningful benefits for their companies’ stakeholders and for society, EPRI said. + +“It’s great to see Exelon take a leadership role in applying research to integrate emerging resources and leverage new technologies to increase grid reliability and resiliency,” said Daniel Brooks, vice president of Integrated Grid and Energy Systems at EPRI. “The relationship between EPRI and Exelon is a true collaborative effort, and we congratulate everyone involved in these efforts.” + +In 2023, the Power Delivery and Utilization sector received more than 84 nominations, 21 of which were recognized with awards. + +Exelon’s winners are: + +Unmanned Aircraft Systems for Storm Response + +Exelon and PECO collaborated with EPRI to enhance the effectiveness of unmanned aircraft systems (UAS) night inspections to assess storm damage. After testing several methods, they found that real-time video taken in both infrared and visible light allowed for faster damage assessment, better work planning and quicker restoration times. + +Business Capability Model Development for IT-OT Investment Alignment + +Exelon collaborated with EPRI, Ameren, ConEdison, National Grid, New York Power Authority, PNM Resources and Salt River Project to apply and refine the business capability model on their own strategic initiatives, including customer experience, asset management and the utility of the future, to create a publicly available industry resource. EPRI plans to use this model to support their research and enterprise-level initiatives across the industry in the U.S., European Union and Australia. + +Modernize Distribution Planning Using Automated Processes and Tools Automated Distribution Assessment & Planning Tools (ADAPT) + +Exelon and BGE, Ameren, Arizona Public Service, Consumers Energy, Dominion Energy, FirstEnergy, KEPCO, Knoxville Utility Board, LG&E/KU, Southern Company and the Tennessee Valley Authority partnered with EPRI to develop an industry-leading automated tool that can be used by utilities to evaluate complex distribution planning assessments. + +Model-based Analysis of DER Functions and Settings + +Exelon, Duke Energy, FirstEnergy, Xcel Energy, Entergy, Orange and Rockland, and Salt River Project collaborated with EPRI to analyze the technical impacts and benefits of the advanced functions made available with Smart Inverters. Using these findings, they developed a set of guidelines that will improve overall DER performance and drive stakeholder satisfaction, operational performance and support compliance of utility clean energy goals. + +Recloser Testing and Failure Analysis to Inform Deployment Decisions + +Exelon and PECO, Arizona Public Service, Dominion Energy and United Illuminating - Avangrid partnered with EPRI to perform lab tests on reclosing equipment, allowing them to identify the best reclosers to install for grid modernization efforts. + +Learn more about the EPRI awards and projects here. + +About Exelon + +Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005664/en/ \ No newline at end of file diff --git a/news/FANG/2023.01.09/Diamondback Energy, Inc. Schedules Fourth Quarter 2022 Conference Call for February 22,...txt b/news/FANG/2023.01.09/Diamondback Energy, Inc. Schedules Fourth Quarter 2022 Conference Call for February 22,...txt new file mode 100644 index 0000000000000000000000000000000000000000..e70f1a74c564d37d694f72b84b30ba27d931b6f2 --- /dev/null +++ b/news/FANG/2023.01.09/Diamondback Energy, Inc. Schedules Fourth Quarter 2022 Conference Call for February 22,...txt @@ -0,0 +1 @@ +MIDLAND, Texas, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today announced that it plans to release fourth quarter 2022 financial results on February 21, 2023 after the market closes.In connection with the earnings release, Diamondback will host a conference call and webcast for investors and analysts to discuss its results for the fourth quarter of 2022 on Wednesday, February 22, 2023 at 8:00 a.m. CT. Access to the webcast, and replay which will be available following the call, may be found here. The live webcast of the earnings conference call will also be available via Diamondback’s website at www.diamondbackenergy.com under the “Investor Relations” section of the site.About Diamondback Energy, Inc. Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.Investor Contact:Adam Lawlis+1 432.221.7467alawlis@diamondbackenergy.com 2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/FANG/2023.01.24/U.S. oil & gas M&A hit 17-year low; big firms dominate deals-report.txt b/news/FANG/2023.01.24/U.S. oil & gas M&A hit 17-year low; big firms dominate deals-report.txt new file mode 100644 index 0000000000000000000000000000000000000000..edba3c994d33ec85bf931da7485c724dd595cb58 --- /dev/null +++ b/news/FANG/2023.01.24/U.S. oil & gas M&A hit 17-year low; big firms dominate deals-report.txt @@ -0,0 +1 @@ +The decline comes as large companies with strong balance sheets are targeting the best properties in deals valued upwards of a billion dollars, while smaller firms with discounted equity have been unable to find financially attractive assets, Enverus wrote in a note on Tuesday. Oil companies are also grappling with less productive wells, with some viewing asset purchases as a way to keep oil and gas flowing. Larger companies with better inventories tend to have a premium built into their stock, giving them more buying power, Enverus wrote. "It's a market where the rich get richer," said Andrew Dittmar, a director at Enverus who focuses on mergers and acquisitions. Publicly traded U.S. shale firm Diamondback Energy added some 500 drilling locations to its portfolio by spending $3 billion to purchase Lario Oil & Gas and Firebird Energy during the fourth quarter. Both deals were focused on the Midland Basin in Texas. Diamondback's added inventory was "more of a luxury than a necessity," Dittmar said of those deals. Rival Marathon Oil, which already had about 10 years of drilling locations, added some 550 more when it purchased privately held Ensign Natural Resources in the Eagle Ford for $3 billion in November. "There are a few options available for small-cap companies struggling to secure inventory in the current market," Dittmar said, adding that the need to secure inventory will likely support deal-making this year. He anticipates smaller companies may look to build their inventories piecemeal, creating a higher-volume but lower deal value mergers and acquisitions market, or look at non-core assets larger companies are shedding. (Reporting by Liz Hampton in Denver; Editing by Muralikumar Anantharaman)By Liz Hampton \ No newline at end of file diff --git a/news/FANG/2023.01.31/Diamondback Energy, Inc. Announces Closing of Lario Acquisition.txt b/news/FANG/2023.01.31/Diamondback Energy, Inc. Announces Closing of Lario Acquisition.txt new file mode 100644 index 0000000000000000000000000000000000000000..baa3e43656299312f250b21031901f30e26b0e48 --- /dev/null +++ b/news/FANG/2023.01.31/Diamondback Energy, Inc. Announces Closing of Lario Acquisition.txt @@ -0,0 +1 @@ +MIDLAND, Texas, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today announced that it has completed its previously announced acquisition of all leasehold interests and related assets of Lario Permian, LLC, a wholly owned subsidiary of Lario Oil & Gas Company, and certain associated sellers (collectively “Lario”).About Diamondback Energy, Inc.Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.Forward Looking StatementsThe foregoing release contains forward-looking statements as defined by the Securities and Exchange Commission. All statements, other than historical facts, that address activities, events or developments that Diamondback assumes, plans, expects, believes, intends or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events, including the current industry and macroeconomic conditions, commodity pricing environment, production levels, any future regulatory actions affecting Diamondback, the impact and duration of the COVID-19 pandemic, acquisitions and sales of assets, drilling and capital expenditure plans, environmental targets and initiatives and other factors believed to be appropriate. Forward looking statements are not guarantees of performance. These forward-looking statements involve certain risks and uncertainties, many of which are beyond Diamondback’s control and could cause the actual results or developments to differ materially from those currently anticipated by the management of Diamondback. Information concerning these risks and other factors can be found in Diamondback’s filings with the Securities and Exchange Commission, including its reports on Forms 10-K, 10-Q and 8-K. Diamondback undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.Investor Contact:Adam Lawlis+1 432.221.7467alawlis@diamondbackenergy.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/FANG/2023.02.21/Diamondback : Q4 Earnings Snapshot.txt b/news/FANG/2023.02.21/Diamondback : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..5d7087ce1d8fc8e7fa4609039ec20d96a2932f9d --- /dev/null +++ b/news/FANG/2023.02.21/Diamondback : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Diamondback Energy Inc. (FANG) on Tuesday reported fourth-quarter profit of $1.01 billion.On a per-share basis, the Midland, Texas-based company said it had profit of $5.62. Earnings, adjusted for non-recurring gains, were $5.29 per share.The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $5.20 per share.The energy exploration and production company posted revenue of $2.03 billion in the period, which met Street forecasts.For the year, the company reported profit of $4.39 billion, or $24.61 per share. Revenue was reported as $9.64 billion.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FANG at https://www.zacks.com/ap/FANGFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/FANG/2023.02.21/Diamondback Energy beats profit estimates on higher crude prices.txt b/news/FANG/2023.02.21/Diamondback Energy beats profit estimates on higher crude prices.txt new file mode 100644 index 0000000000000000000000000000000000000000..903b3b5e72a58b3f900d01239f34a98b998e2725 --- /dev/null +++ b/news/FANG/2023.02.21/Diamondback Energy beats profit estimates on higher crude prices.txt @@ -0,0 +1,19 @@ +Feb 21 (Reuters) - U.S. oil and gas producer Diamondback Energy Inc +on Tuesday beat Wall Street expectations for fourth-quarter profit, as +tighter energy supplies following Russia's invasion of Ukraine boosted crude +prices.Crude prices retreated from their multi-year peak in the last quarter, but +remained 11% higher than a year earlier, primarily due to Western sanctions +imposed on major energy producer Russia, and OPEC+ curbing output which +tightened global supply.Midland, Texas-based Diamondback said total average unhedged realized prices +were at $55.76 per barrel of oil equivalent (boe) in the reported quarter, 1.3% +lower from a year earlier.Its average production was 391,000 barrels of oil equivalent per day +(boepd), higher than 387,000 boepd last year.Adjusted net income stood at $5.29 per share, above analysts' average +estimate of $5.22 per share.For full-year 2023, Diamondback sees net production between 430,000 to +440,000 barrels of oil equivalent per day (BOE/d), and $2.5 billion to $2.7 +billion in capital expenditure.Diamondback in November said it would buy Lario Permian, a unit of Lario Oil +& Gas Company, for around $1.5 billion in cash and stock.Lario Permian's assets consist of about 25,000 acres in the Northern +Midland Basin in Texas, with estimated 2023 production of about 18,000 barrels +of oil per day.Peer Chesapeake Energy Corp also beat fourth-quarter profit +estimates on higher crude prices. It reported adjusted net income of $4.22 per +share, higher than average analysts' expectation of $2.99 per share. +(Reporting by Arshreet Singh; Editing by Shinjini Ganguli and Shailesh Kuber) \ No newline at end of file diff --git a/news/FANG/2023.02.21/Diamondback Energy beats quarterly profit estimates on higher crude prices.txt b/news/FANG/2023.02.21/Diamondback Energy beats quarterly profit estimates on higher crude prices.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9c45d30a9579515526fdfbb0fd69fa3d89a4d6c --- /dev/null +++ b/news/FANG/2023.02.21/Diamondback Energy beats quarterly profit estimates on higher crude prices.txt @@ -0,0 +1,6 @@ +Feb 21 (Reuters) - U.S. oil and gas producer Diamondback Energy Inc +on Tuesday beat Wall Street expectations for fourth-quarter profit, +helped by higher crude prices due to tighter energy supplies following Russia's +invasion of Ukraine.The Midland, Texas-based company's adjusted net income stood at $5.29 per +share, above analysts' average estimate of $5.22. +(Reporting by Arshreet Singh; Editing by Shinjini Ganguli) \ No newline at end of file diff --git a/news/FANG/2023.02.21/Diamondback Energy, Inc. Announces Fourth Quarter and Full Year 2022 Financial and Oper...txt b/news/FANG/2023.02.21/Diamondback Energy, Inc. Announces Fourth Quarter and Full Year 2022 Financial and Oper...txt new file mode 100644 index 0000000000000000000000000000000000000000..7baecad8e2dc340e9b5c85256cdb14faa5e0e36a --- /dev/null +++ b/news/FANG/2023.02.21/Diamondback Energy, Inc. Announces Fourth Quarter and Full Year 2022 Financial and Oper...txt @@ -0,0 +1 @@ +MIDLAND, Texas, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2022.FOURTH QUARTER 2022 HIGHLIGHTSFULL YEAR 2022 HIGHLIGHTS2023 GUIDANCE HIGHLIGHTSNON-CORE ASSET SALE UPDATE“2022 was a record year for Diamondback. I am proud of our team who, in the face of significant inflationary headwinds, were able to execute our capital plan within our original budget while beating volume expectations for the year. As a result, Diamondback was able to generate nearly $4.6 billion of Free Cash Flow and return approximately $3.1 billion of cash to our stockholders through a combination of our growing base dividend, variable dividend and share repurchase program. On top of that, we added over 80,000 net acres and 500 locations through the FireBird and Lario Acquisitions, extending our inventory runway while also providing immediate cash flow accretion for our stockholders,” stated Travis Stice, Chairman and Chief Executive Officer of Diamondback.Mr. Stice continued, “As we move into 2023, I am confident in our ability to maintain our status as a best-in-class operator. Our well results have steadily improved over the past four years, and our capital costs and cash margins continue to be among the best in the industry. This year, we expect to produce approximately 260,000 barrels of oil per day while spending approximately $2.6 billion in capex. We intend to continue to return at least 75% of our Free Cash Flow to our stockholders and we expect to further strengthen our investment grade balance sheet by reducing debt through cash flow and our increased target of at least $1 billion of non-core asset sales.”OPERATIONS UPDATEThe tables below provide a summary of operating activity for the fourth quarter of 2022.During the fourth quarter of 2022, Diamondback drilled 59 gross wells in the Midland Basin and nine gross wells in the Delaware Basin. The Company turned 61 operated wells to production in the Midland Basin with an average lateral length of 11,083 feet. Operated completions during the fourth quarter consisted of 20 Lower Spraberry wells, 14 Wolfcamp B wells, 11 Jo Mill wells, 10 Wolfcamp A wells and six Middle Spraberry wells.For the full year ended December 31, 2022, Diamondback drilled 197 gross wells in the Midland Basin and 43 gross wells in the Delaware Basin. The Company turned 213 operated wells to production in the Midland Basin and 42 operated wells to production in the Delaware Basin. The average lateral length for wells completed during the full year was 10,593 feet, and consisted of 71 Wolfcamp A wells, 70 Lower Spraberry wells, 46 Wolfcamp B wells, 32 Jo Mill wells, 21 Middle Spraberry wells, 11 Second Bone Spring wells, three Third Bone Spring wells and one Barnett well.FINANCIAL UPDATEDiamondback's fourth quarter 2022 net income was $1.01 billion, or $5.62 per diluted share. Adjusted net income (as defined and reconciled below) was $948 million, or $5.29 per diluted share.Fourth quarter 2022 net cash provided by operating activities was $1.44 billion. Through the year ended December 31, 2022, Diamondback's net cash provided by operating activities was $6.33 billion.During the fourth quarter of 2022, Diamondback spent $482 million on operated and non-operated drilling and completions, $45 million on infrastructure and environmental and $15 million on midstream, for total cash capital expenditures of $542 million. For the year ended December 31, 2022, Diamondback spent $1.69 billion on operated and non-operated drilling and completions, $169 million on infrastructure and environmental and $84 million on midstream, for total cash capital expenditures of $1.94 billion.Fourth quarter 2022 Consolidated Adjusted EBITDA (as defined and reconciled below) was $1.64 billion. Adjusted EBITDA net of non-controlling interest (as defined and reconciled below) was $1.61 billion.Diamondback's fourth quarter 2022 Free Cash Flow (as defined and reconciled below) was $1.13 billion. For the year ended December 31, 2022, Diamondback's Free Cash Flow (as defined and reconciled below) was $4.59 billion.Fourth quarter 2022 average unhedged realized prices were $80.37 per barrel of oil, $3.20 per Mcf of natural gas and $24.93 per barrel of natural gas liquids ("NGLs"), resulting in a total equivalent unhedged realized price of $55.76 per BOE.Diamondback's cash operating costs for the fourth quarter of 2022 were $10.16 per BOE, including lease operating expenses ("LOE") of $4.47 per BOE, cash general and administrative ("G&A") expenses of $0.61 per BOE, production and ad valorem taxes of $3.22 per BOE and gathering and transportation expenses of $1.86 per BOE.As of December 31, 2022, Diamondback had $139 million in standalone cash and no borrowings outstanding under its revolving credit facility, with approximately $1.60 billion available for future borrowing under the facility and approximately $1.74 billion of total liquidity.DIVIDEND DECLARATIONSDiamondback announced today that the Company's Board of Directors declared a base cash dividend of $0.80 per common share for the fourth quarter of 2022 payable on March 10, 2023, to stockholders of record at the close of business on March 3, 2023.The Company's Board of Directors also declared a variable cash dividend of $2.15 per common share for the fourth quarter of 2022 payable on March 10, 2023, to stockholders of record at the close of business on March 3, 2023.Future base and variable dividends remain subject to review and approval at the discretion of the Company's Board of Directors.COMMON STOCK REPURCHASE PROGRAMOn September 15, 2021 the Board of Directors of Diamondback authorized the Company to acquire up to $2.00 billion of common stock. On July 28, 2022, Diamondback's Board of Directors approved increasing total authorized common stock repurchases to $4.00 billion. During the fourth quarter of 2022, Diamondback repurchased 2,344,850 shares of common stock at an average share price of $134.49 for a total cost of approximately $316 million. To date, Diamondback has repurchased 13,182,907 shares of common stock at an average share price of $119.64 for a total cost of approximately $1.58 billion. Diamondback intends to purchase common stock under the common stock repurchase program opportunistically with cash on hand, free cash flow from operations and proceeds from potential liquidity events such as the sale of assets. This repurchase program has no time limit and may be suspended from time to time, modified, extended or discontinued by the Board at any time. Purchases under the repurchase program may be made from time to time in privately negotiated transactions or open market transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and will be subject to market conditions, applicable legal requirements and other factors. Any common stock purchased as part of this program will be retired.RESERVESEstimates of Diamondback's proved reserves as of December 31, 2022 were prepared by Diamondback's internal reservoir engineers and audited by Ryder Scott Company, L.P., an independent petroleum engineering firm. Reference prices of $93.67 per barrel of oil and $6.36 per Mmbtu of natural gas were used in accordance with applicable rules of the Securities and Exchange Commission. Realized prices with applicable differentials were $95.26 per barrel of oil, $5.59 per Mcf of natural gas and $39.40 per barrel of natural gas liquids.Proved reserves at year-end 2022 of 2,033 MMBOE represent a 14% increase over year-end 2021 reserves. Proved developed reserves increased by 17% to 1,404 MMBOE (69% of total proved reserves) as of December 31, 2022, reflecting the continued development of the Company's horizontal well inventory. Proved undeveloped reserves ("PUD" or "PUDs") increased to 629 MMBOE, a 7% increase over year-end 2021, and are comprised of 718 locations, of which 90 are in the Delaware Basin. Crude oil represents 53% of Diamondback's total proved reserves.Net proved reserve additions of 385 MMBOE resulted in a reserve replacement ratio of 273% (defined as the sum of extensions and discoveries, revisions, purchases and divestitures, divided by annual production). The organic reserve replacement ratio was 233% (defined as the sum of extensions and discoveries and revisions, divided by annual production).Extensions and discoveries of reserves were the primary contributor to the increase in reserves totaling 334 MMBOE followed by net purchases of reserves totaling 57 MMBOE, with downward revisions of 7 MMBOE. PDP extensions accounted for 19% of the total increase in reserves. PDP extensions were the result of 654 new wells in which the Company has an interest, and PUD extensions were the result of 311 new locations in which the Company has a working interest. Net purchases of reserves of 57 MMBOE were the net result of acquisitions of 68 MMBOE and divestitures of 11 MMBOE. Downward revisions of 7 MMBOE were primarily the result of PUD downgrades and 99 MMBOE were related to changes in the corporate development plan, which were partially offset by positive revisions of 92 MMBOE associated with higher commodity prices.The SEC PUD guidelines allow a company to book PUD reserves associated with projects that are to occur within the next five years. With its current development plan, the Company expects to continue its strong PUD conversion ratio in 2023 by converting an estimated 33% of its PUDs to a Proved Developed category, and develop approximately 80% of the consolidated 2022 year-end PUD reserves by the end of 2025.Diamondback's exploration and development costs in 2022 were $2.3 billion. PD F&D costs were $10.10/BOE. PD F&D costs are defined as exploration and development costs, excluding midstream, divided by the sum of reserves associated with transfers from proved undeveloped reserves at year-end 2021 including any associated revisions in 2022 and extensions and discoveries placed on production during 2021. Drill bit F&D costs were $6.91/BOE including the effects of all revisions including pricing revisions. Drill bit F&D costs are defined as the exploration and development costs, excluding midstream, divided by the sum of extensions, discoveries and revisions.FULL YEAR 2023 GUIDANCEBelow is Diamondback's guidance for the full year 2023, which includes first quarter production, cash tax and capital guidance. This guidance gives effect to the estimated production contribution related to the Lario acquisition, which closed on January 31, 2023.(a) Includes production taxes of 4.6% for crude oil and 7.5% for natural gas and NGLs and ad valorem taxes.CONFERENCE CALLDiamondback will host a conference call and webcast for investors and analysts to discuss its results for the fourth quarter of 2022 on Wednesday, February 22, 2023 at 8:00 a.m. CT. Access to the webcast, and replay which will be available following the call, may be found here. The live webcast of the earnings conference call will also be available via Diamondback’s website at www.diamondbackenergy.com under the “Investor Relations” section of the site.About Diamondback Energy, Inc.Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.Forward-Looking StatementsThis news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Diamondback’s: future performance; business strategy; future operations (including drilling plans and capital plans); estimates and projections of revenues, losses, costs, expenses, returns, cash flow, and financial position; reserve estimates and its ability to replace or increase reserves; anticipated benefits of strategic transactions (including acquisitions and divestitures); and plans and objectives of management (including plans for future cash flow from operations and for executing environmental strategies) are forward-looking statements. When used in this news release, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Diamondback are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Diamondback believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Diamondback’s control. Accordingly, forward-looking statements are not guarantees of future performance and Diamondback’s actual outcomes could differ materially from what Diamondback has expressed in its forward-looking statements.Factors that could cause the outcomes to differ materially include (but are not limited to) the following: changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities; the impact of public health crises, including epidemic or pandemic diseases such as the COVID-19 pandemic, and any related company or government policies or actions; actions taken by the members of OPEC and Russia affecting the production and pricing of oil, as well as other domestic and global political, economic, or diplomatic developments, including any impact of the ongoing war in Ukraine on the global energy markets and geopolitical stability; concerns over a potential economic slowdown or recession; inflationary pressures; rising interest rates and their impact on the cost of capital; regional supply and demand factors, including delays, curtailment delays or interruptions of production, or governmental orders, rules or regulations that impose production limits; federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations; physical and transition risks relating to climate change and the risks and other factors disclosed in Diamondback’s filings with the Securities and Exchange Commission, including its Forms 10-K, 10-Q and 8-K, which can be obtained free of charge on the Securities and Exchange Commission’s web site at http://www.sec.gov.In light of these factors, the events anticipated by Diamondback’s forward-looking statements may not occur at the time anticipated or at all. Moreover, Diamondback operates in a very competitive and rapidly changing environment and new risks emerge from time to time. Diamondback cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements made in this news release. All forward-looking statements speak only as of the date of this news release or, if earlier, as of the date they were made. Diamondback does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.(1) Bbl equivalents are calculated using a conversion rate of six Mcf per one Bbl.(2) Hedged prices reflect the effect of our commodity derivative transactions on our average sales prices and include gains and losses on cash settlements for matured commodity derivatives, which we do not designate for hedge accounting. Hedged prices exclude gains or losses resulting from the early settlement of commodity derivative contracts.NON-GAAP FINANCIAL MEASURESADJUSTED EBITDAAdjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. The Company defines Adjusted EBITDA as net income (loss) attributable to Diamondback Energy, Inc., plus net income (loss) attributable to non-controlling interest ("net income (loss)") before non-cash (gain) loss on derivative instruments, net, interest expense, net, depreciation, depletion, amortization and accretion, depreciation and interest expense related to equity method investments, impairment and abandonments related to equity method investments, (gain) loss on sale of equity method investments, (gain) loss on extinguishment of debt, non-cash equity-based compensation expense, capitalized equity-based compensation expense, merger and integration expense, other non-cash transactions and provision for (benefit from) income taxes, if any. Adjusted EBITDA is not a measure of net income as determined by United States generally accepted accounting principles ("GAAP"). Management believes Adjusted EBITDA is useful because the measure allows it to more effectively evaluate the Company’s operating performance and compare the results of its operations from period to period without regard to its financing methods or capital structure. The Company adds the items listed above to net income (loss) to determine Adjusted EBITDA because these amounts can vary substantially from company to company within its industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as an indicator of the Company’s operating performance or liquidity. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets. The Company’s computation of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies or to such measure in our credit facility or any of our other contracts.The following tables present a reconciliation of the GAAP financial measure of net income (loss) attributable to Diamondback Energy, Inc. to the non-GAAP financial measure of Adjusted EBITDA:ADJUSTED NET INCOMEAdjusted net income is a non-GAAP financial measure equal to net income (loss) attributable to Diamondback Energy, Inc. plus net income (loss) attributable to non-controlling interest ("net income (loss)") adjusted for non-cash (gain) loss on derivative instruments, net, (gain) loss on extinguishment of debt, merger and integration expense; other non-cash transactions and related income tax adjustments, if any. The Company’s computation of adjusted net income may not be comparable to other similarly titled measures of other companies or to such measure in our credit facility or any of our other contracts. Management believes adjusted net income helps investors in the oil and natural gas industry to measure and compare the Company's performance to other oil and natural gas companies by excluding from the calculation items that can vary significantly from company to company depending upon accounting methods, the book value of assets and other non-operational factors.The following table presents a reconciliation of the GAAP financial measure of net income (loss) attributable to Diamondback Energy, Inc. to the non-GAAP measure of adjusted net income:(a) The Company’s earnings (loss) per diluted share amount has been computed using the two-class method in accordance with GAAP. The two-class method is an earnings allocation which reflects the respective ownership among holders of common stock and participating securities. Diluted earnings per share using the two-class method is calculated as (i) net income attributable to Diamondback Energy, Inc, (ii) plus the reallocation of $8 million in earnings attributable to participating securities, divided by (iii) diluted weighted average common shares outstanding.OPERATING CASH FLOW BEFORE WORKING CAPITAL CHANGES, FREE CASH FLOW AND ADJUSTED FREE CASH FLOWOperating cash flow before working capital changes, which is a non-GAAP financial measure representing net cash provided by operating activities as determined under GAAP without regard to changes in operating assets and liabilities. The Company believes operating cash flow before working capital changes is a useful measure of an oil and natural gas company’s ability to generate cash used to fund exploration, development and acquisition activities and service debt or pay dividends. The Company also uses this measure because adjusted operating cash flow relates to the timing of cash receipts and disbursements that the Company may not control and may not relate to the period in which the operating activities occurred. This allows the Company to compare its operating performance with that of other companies without regard to financing methods and capital structure.Free Cash Flow, which is a non-GAAP financial measure, is cash flow from operating activities before changes in working capital in excess of cash capital expenditures. Adjusted Free Cash Flow, which is a non-GAAP financial measure, is Free Cash Flow adjusted for early termination of commodity derivative contracts. The Company believes that Free Cash Flow and Adjusted Free Cash Flow are useful to investors as they provide measures to compare both cash flow from operating activities and additions to oil and natural gas properties across periods on a consistent basis as adjusted for non-recurring early settlements of commodity derivative contracts. These measures should not be considered as an alternative to, or more meaningful than, net cash provided by operating activities as an indicator of operating performance. The Company's computation of operating cash flow before working capital changes, Free Cash Flow and Adjusted Free Cash Flow may not be comparable to other similarly titled measures of other companies. The Company uses Free Cash Flow to reduce debt, as well as return capital to stockholders as determined by the Board of Directors.The following tables present a reconciliation of the GAAP financial measure of net cash provided by operating activities to the non-GAAP measure of operating cash flow before working capital changes and to the non-GAAP measure of Free Cash Flow:NET DEBTThe Company defines the non-GAAP measure of net debt as total debt less cash and cash equivalents. Net debt should not be considered an alternative to, or more meaningful than, total debt, the most directly comparable GAAP measure. Management uses net debt to determine the Company's outstanding debt obligations that would not be readily satisfied by its cash and cash equivalents on hand. The Company believes this metric is useful to analysts and investors in determining the Company's leverage position because the Company has the ability to, and may decide to, use a portion of its cash and cash equivalents to reduce debt.(a)  Excludes debt issuance costs, discounts, premiums and fair value hedges.PV-10PV-10 is the Company's estimate of the present value of the future net revenues from proved oil and natural gas reserves after deducting estimated production and ad valorem taxes, future capital costs and operating expenses, but before deducting any estimates of future income taxes. The estimated future net revenues are discounted at an annual rate of 10% to determine their "present value." The Company believes PV-10 to be an important measure for evaluating the relative significance of its oil and natural gas properties and that the presentation of the non-GAAP financial measure of PV-10 provides useful information to investors because it is widely used by professional analysts and investors in evaluating oil and natural gas companies. Because there are many unique factors that can impact an individual company when estimating the amount of future income taxes to be paid, the Company believes the use of a pre-tax measure is valuable for evaluating the Company. The Company believes that PV-10 is a financial measure routinely used and calculated similarly by other companies in the oil and natural gas industry. The following table reconciles PV-10 to the Company's standardized measure of discounted future net cash flows, the most directly comparable measure calculated and presented in accordance with GAAP. PV-10 should not be considered as an alternative to the standardized measure as computed under GAAP.DERIVATIVESAs of February 17, 2023, the Company had the following outstanding consolidated derivative contracts, including derivative contracts at Viper Energy Partners LP. The Company’s derivative contracts are based upon reported settlement prices on commodity exchanges, with crude oil derivative settlements based on New York Mercantile Exchange West Texas Intermediate pricing and Crude Oil Brent pricing and with natural gas derivative settlements based on the New York Mercantile Exchange Henry Hub pricing. When aggregating multiple contracts, the weighted average contract price is disclosed.Investor Contact:Adam Lawlis+1 432.221.7467alawlis@diamondbackenergy.com2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/FAST/2023.01.05/Fastenal Company Announces Conference Call to Review 2022 Annual and Fourth Quarter Ear...txt b/news/FAST/2023.01.05/Fastenal Company Announces Conference Call to Review 2022 Annual and Fourth Quarter Ear...txt new file mode 100644 index 0000000000000000000000000000000000000000..2b13ea3f30ca3abe414b8ccc2a9184878d7d51e8 --- /dev/null +++ b/news/FAST/2023.01.05/Fastenal Company Announces Conference Call to Review 2022 Annual and Fourth Quarter Ear...txt @@ -0,0 +1,19 @@ + +Fastenal Company (Nasdaq:FAST) announced the date and time for its conference call to review 2022 annual and fourth quarter results, as well as current operations. The conference call will be broadcast live over the Internet on Thursday, January 19, 2023 at 9:00 a.m. central time. + +To access the call, please visit the following Web address: + +https://investor.fastenal.com/events.cfm + +Our conference call presentation (which includes information, supplemental to that contained in our earnings announcement, regarding results for the quarter) will be available at 6:00 a.m., central time, on the day of the conference call. To access the presentation, please visit the following Web address: https://investor.fastenal.com/releases.cfm + +An online archive of the webcast will be available within one hour of the conclusion of the call and will remain available until March 1, 2023. Participants must have a soundcard and speakers to listen to the online webcast. + +About Fastenal + +Fastenal provides a broad offering of industrial supplies, including fastener, safety, and metal cutting products, to manufacturing, construction, and state and local government customers through approximately 3,300 in-market locations (branches and customer-specific Onsite locations) spanning 25 countries. With continual investment in tailored local inventory, dedicated local experts, and flexible FMI® (Fastenal Managed Inventory) and digital solutions, we help our business partners achieve product and process savings across the supply chain – a “high-touch, high-tech” approach encapsulated by our tagline, Where Industry Meets Innovation™. Our local service teams are supported by 16 regional distribution centers, a captive logistics fleet, multiple teams of industry specialists and support personnel, and robust sourcing, quality, and manufacturing resources, enabling us to grow by getting closer to customers and providing innovative and comprehensive solutions to customer supply chain challenges. + +Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com. + +FAST-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230105005708/en/ \ No newline at end of file diff --git a/news/FAST/2023.01.16/Fastenal Releases Inaugural Environmental, Social, and Governance (ESG) Report.txt b/news/FAST/2023.01.16/Fastenal Releases Inaugural Environmental, Social, and Governance (ESG) Report.txt new file mode 100644 index 0000000000000000000000000000000000000000..eeb7af51ab5a8ac24152f55578bef88da2503489 --- /dev/null +++ b/news/FAST/2023.01.16/Fastenal Releases Inaugural Environmental, Social, and Governance (ESG) Report.txt @@ -0,0 +1,25 @@ + +Fastenal Company (Nasdaq: FAST) is proud to announce the publication of its inaugural ESG Report. The report, which recaps Fastenal’s progress in various environmental, social, and governance aspects during 2021, marks a significant step forward in the company’s ESG journey. Fastenal is planning to publish annual ESG reports moving forward. + +The report was produced with reference to the Global Reporting Initiative (GRI) standards and aligns with the ESG disclosure and reporting frameworks established by the Sustainability Accounting Standards Board (SASB) and the Taskforce on Climate-Related Financial Disclosures (TCFD). + +Highlights from the report include: + +A unique feature of the report (and of Fastenal’s ESG program) is the company’s sustainability solutions, a portfolio of services to help customers accelerate their own ESG programs. It speaks to a larger theme: As a supply chain partner for thousands of organizations around the globe, Fastenal is working to make a positive impact that extends well beyond its own operations. + +“Our culture centers on a core belief in people, and our strategy centers on reducing resource consumption in our customers’ supply chains – principles we believe create a natural alignment of our growth goals and the ESG priorities of our stakeholders,” said Dan Florness, president and CEO of Fastenal. “The Fastenal ‘Blue Team’ is working hard to be a force for positive change – in our business, for our customers, and across global supply chains – and we’re proud to share their story in this inaugural report.” + +VIEW THE REPORT HERE: www.fastenal.com/fast/esg + +About Fastenal + +Fastenal provides a broad offering of industrial supplies, including fastener, safety, and metal cutting products, to manufacturing, construction, and state and local government customers through approximately 3,300 in-market locations (branches and customer-specific Onsite locations) spanning 25 countries. With continual investment in tailored local inventory, dedicated local experts, and flexible FMI® (Fastenal Managed Inventory) and digital solutions, we help our business partners achieve product and process savings across the supply chain – a “high-touch, high-tech” approach encapsulated by our tagline, Where Industry Meets Innovation™. Our local service teams are supported by 16 regional distribution centers, a captive logistics fleet, multiple teams of industry specialists and support personnel, and robust sourcing, quality, and manufacturing resources, enabling us to grow by getting closer to customers and providing innovative and comprehensive solutions to customer supply chain challenges. + +Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com. + +Cautionary Note Regarding Forward-Looking Statements + +This release includes forward-looking statements, which are subject to risks and uncertainties. The forward-looking statements contain words such as “plan,” “believe,” and similar expressions and our sustainability goals, targets, and expectations are long-term and inspirational and by their nature, include forward-looking statements. Actual results may differ from those set forth in the forward-looking statements due to a variety of factors, including those described in our ESG Report and our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Fastenal undertakes no obligation to update or revise any forward-looking statements. + +FAST-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230116005566/en/ \ No newline at end of file diff --git a/news/FAST/2023.01.18/Fastenal Company Announces Cash Dividend and Share Repurchase Activity.txt b/news/FAST/2023.01.18/Fastenal Company Announces Cash Dividend and Share Repurchase Activity.txt new file mode 100644 index 0000000000000000000000000000000000000000..d4b9eef21721d572f4032838d339aa6747a663f3 --- /dev/null +++ b/news/FAST/2023.01.18/Fastenal Company Announces Cash Dividend and Share Repurchase Activity.txt @@ -0,0 +1,861 @@ + +Fastenal Company (Nasdaq:FAST) reported its board of directors declared a dividend of $0.35 per share to be paid in cash on March 2, 2023 to shareholders of record at the close of business on February 2, 2023. Except for share and per share information, dollar amounts are stated in millions. + +Fastenal began paying annual dividends in 1991, semi-annual dividends in 2003, and then expanded to quarterly dividends in 2011. In addition to these regular dividend payments, Fastenal has previously paid special one-time dividends in December 2008, December 2012, and December 2020. Our board of directors currently intends to continue paying quarterly dividends, though all future determination as to payment of dividends will depend upon the financial condition and results of operations of the company and such other factors as are deemed relevant by the board of directors, such as income tax rates related to dividends at that time. + +In 2023, 2022, and 2021, we paid (or declared) dividends as follows: + +Year + +  + +First + +Quarter + +  + +Second + +Quarter + +  + +Third + +Quarter + +  + +Fourth + +Quarter + +  + +Total + +2023 + +  + +$ + +0.35 + +  + +  + +  + +  + +  + +  + +  + +  + +2022 + +  + +$ + +0.31 + +  + +$ + +0.31 + +  + +$ + +0.31 + +  + +$ + +0.31 + +  + +$ + +1.24 + +2021 + +  + +$ + +0.28 + +  + +$ + +0.28 + +  + +$ + +0.28 + +  + +$ + +0.28 + +  + +$ + +1.12 + +Dividend and common stock purchase activity during the last ten years: + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Average Per + +  + +  + +Total + +Dividends per Share + +Total Value of + +Total Number + +Share Price of + +  + +Dividend + +Dividends + +Regular + +  + +Special + +  + +Total + +  + +Common Stock + +of Shares + +Common Stock + +Year + +Payments + +Paid + +Dividend + +  + +Dividend + +  + +Dividend + +  + +Purchased + +Purchased + +Purchased + +2023 + +One (1) + +  + +$ + +199.8 + +  + +  + +$ + +0.35 + +  + +  + +$ + +— + +  + +$ + +0.35 + +  + +  + +$ + +— + +  + +  + +— + +  + +  + +$ + +— + +  + +2022 + +Four + +  + +$ + +711.3 + +  + +  + +$ + +1.24 + +  + +  + +$ + +— + +  + +$ + +1.24 + +  + +  + +$ + +237.8 + +  + +  + +5,000,000 + +  + +  + +$ + +47.58 + +  + +2021 + +Four + +  + +$ + +643.7 + +  + +  + +$ + +1.12 + +  + +  + +$ + +— + +  + +$ + +1.12 + +  + +  + +$ + +— + +  + +  + +— + +  + +  + +$ + +— + +  + +2020 + +Five (2) + +  + +$ + +803.4 + +  + +  + +$ + +1.00 + +  + +  + +$ + +0.40 + +  + +$ + +1.40 + +  + +  + +$ + +52.0 + +  + +  + +1,600,000 + +  + +  + +$ + +32.54 + +  + +2019 + +Four + +  + +$ + +498.6 + +  + +  + +$ + +0.87 + +  + +  + +$ + +— + +  + +$ + +0.87 + +  + +  + +$ + +— + +  + +  + +— + +  + +  + +$ + +— + +  + +2018 + +Four + +  + +$ + +441.9 + +  + +  + +$ + +0.77 + +  + +  + +$ + +— + +  + +$ + +0.77 + +  + +  + +$ + +103.0 + +  + +  + +4,000,000 + +  + +  + +$ + +25.75 + +  + +2017 + +Four + +  + +$ + +369.1 + +  + +  + +$ + +0.64 + +  + +  + +$ + +— + +  + +$ + +0.64 + +  + +  + +$ + +82.6 + +  + +  + +3,800,000 + +  + +  + +$ + +21.72 + +  + +2016 + +Four + +  + +$ + +346.6 + +  + +  + +$ + +0.60 + +  + +  + +$ + +— + +  + +$ + +0.60 + +  + +  + +$ + +59.5 + +  + +  + +3,200,000 + +  + +  + +$ + +18.58 + +  + +2015 + +Four + +  + +$ + +327.1 + +  + +  + +$ + +0.56 + +  + +  + +$ + +— + +  + +$ + +0.56 + +  + +  + +$ + +293.0 + +  + +  + +14,200,000 + +  + +  + +$ + +20.63 + +  + +2014 + +Four + +  + +$ + +296.6 + +  + +  + +$ + +0.50 + +  + +  + +$ + +— + +  + +$ + +0.50 + +  + +  + +$ + +52.9 + +  + +  + +2,400,000 + +  + +  + +$ + +22.06 + +  + +Ten Year Total + +  + +  + +$ + +4,638.1 + +  + +  + +$ + +7.65 + +  + +  + +$ + +0.40 + +  + +$ + +8.05 + +  + +  + +$ + +880.8 + +  + +  + +34,200,000 + +  + +  + +$ + +25.75 + +  + +(1)   + +The Total Dividends Paid amount includes the estimated impact from this announcement. The estimate is calculated using the 570.8 million shares outstanding at December 31, 2022. + +(2)   + +There was a supplemental dividend paid in December 2020. + +In the fourth quarter of 2022, the company purchased 2,000,000 shares of its common stock at an average price of $46.62 per share. + +We have authority to purchase up to 6,200,000 additional shares of our common stock under the July 12, 2022 authorization. This authorization does not have an expiration date. + +All share and per share information reflects the two-for-one stock split in 2019. + +About Fastenal + +Fastenal provides a broad offering of industrial supplies, including fastener, safety, and metal cutting products, to manufacturing, construction, and state and local government customers through approximately 3,300 in-market locations (branches and customer-specific Onsite locations) spanning 25 countries. With continual investment in tailored local inventory, dedicated local experts, and flexible FMI® (Fastenal Managed Inventory) and digital solutions, we help our business partners achieve product and process savings across the supply chain – a “high-touch, high-tech” approach encapsulated by our tagline, Where Industry Meets Innovation™. Our local service teams are supported by 16 regional distribution centers, a captive logistics fleet, multiple teams of industry specialists and support personnel, and robust sourcing, quality, and manufacturing resources, enabling us to grow by getting closer to customers and providing innovative and comprehensive solutions to customer supply chain challenges. + +Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com. + +Cautionary Note Regarding Forward-Looking Statements + +This press release contains statements that are not historical in nature and that are intended to be, and are hereby identified as, "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995, including a statement regarding expectations as to payment of a quarterly cash dividend in the foreseeable future. Any future determination as to payment of dividends will depend upon the financial condition and results of operations of the company and such other factors as are deemed relevant by the board of directors. For example, a change in business needs including working capital and funding for acquisitions, or a change in income tax law relating to dividends, could cause the company to decide not to pay a dividend in the future or not to repurchase common stock pursuant to the existing share repurchase authorization. A discussion of other risks and uncertainties is included in the company's filings with the SEC, including our most recent annual and quarterly reports. FAST-D +View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005976/en/ \ No newline at end of file diff --git a/news/FAST/2023.01.18/Fastenal Surpasses $1 Billion in Sales Outside the United States.txt b/news/FAST/2023.01.18/Fastenal Surpasses $1 Billion in Sales Outside the United States.txt new file mode 100644 index 0000000000000000000000000000000000000000..5e9ddaed4e19348561a7f38e8e1ddc7687684530 --- /dev/null +++ b/news/FAST/2023.01.18/Fastenal Surpasses $1 Billion in Sales Outside the United States.txt @@ -0,0 +1,19 @@ + +In late September 1994, Fastenal opened a sales branch in Stoney Creek, Ontario, Canada. It had just two employees and around $1,800 in first-month sales, but it was exceptional in one important regard: It was the company’s first branch outside the United States. From this humble beginning, Fastenal’s international (non-United States) business has grown to include sales, service, and support teams in 25 countries spanning the Americas, Europe, and Asia. In 2022, these teams achieved an impressive milestone (one that would have been difficult to imagine back in 1994): $1 billion in annual sales. + +“This was not a small accomplishment, and it took hard work and commitment from everyone involved to reach it,” said Jeff Watts, Fastenal’s EVP of international sales (and one of the company’s first employees in Canada). “It shows what can be accomplished when we work together as One Team with a common goal, and it’s humbling to be a part of.” + +Fastenal’s early waves of international expansion mirrored the globalization of its United States customer base. As multinational customers opened facilities around the world, they asked Fastenal to invest in local resources to support them in those markets. But it wasn’t just a matter of ‘exporting’ its U.S. customer base and business model. Fastenal’s international teams learned, evolved, and grew. They solidified customer relationships, earned new opportunities, and innovated new ways of doing business that made sense for their local markets. + +The $1 billion international sales milestone caps a decade of consistently strong growth. From 2012 to 2022, Fastenal’s international revenues more than tripled. During this same time period, the number of international employees grew from approximately 1,800 to approximately 4,500, creating opportunities for new team members and emerging leaders around the world. + +“As we continue to invest in international teams and structures, we're expanding our ability to support local, regional, and global organizations with in-market resources and proven value-creation programs," said Dan Florness, President and CEO of Fastenal. "Congratulations to our international teams for achieving the $1 billion revenue milestone, and thank you for helping to make Fastenal a world-class supply chain partner.” + +About Fastenal + +Fastenal provides a broad offering of industrial supplies, including fastener, safety, and metal cutting products, to manufacturing, construction, and state and local government customers through approximately 3,300 in-market locations (branches and customer-specific Onsite locations) spanning 25 countries. With continual investment in tailored local inventory, dedicated local experts, and flexible FMI® (Fastenal Managed Inventory) and digital solutions, we help our business partners achieve product and process savings across the supply chain – a “high-touch, high-tech” approach encapsulated by our tagline, Where Industry Meets Innovation™. Our local service teams are supported by 16 regional distribution centers, a captive logistics fleet, multiple teams of industry specialists and support personnel, and robust sourcing, quality, and manufacturing resources, enabling us to grow by getting closer to customers and providing innovative and comprehensive solutions to customer supply chain challenges. + +Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com. + +FAST-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005873/en/ \ No newline at end of file diff --git a/news/FAST/2023.01.19/Fastenal : December 2022 Sales Information.txt b/news/FAST/2023.01.19/Fastenal : December 2022 Sales Information.txt new file mode 100644 index 0000000000000000000000000000000000000000..87e94017f66420d722d02af56827e2534deb7859 --- /dev/null +++ b/news/FAST/2023.01.19/Fastenal : December 2022 Sales Information.txt @@ -0,0 +1,1068 @@ + + + + + DECEMBER 2022 INFORMATION WEB RELEASE + + + Release date: 1/19/23 + + + + + + Fastenal Company and Subsidiaries (Fastenal) + + + + + + + + + + + + + + + (Dollar amounts in thousands) + + + + + + + + + + + + + + + + + + + 2022 + + + + + 2021 + + + + + Change + + + + + + + Net sales + + + + + $ + + + + + 514,049 + + + + + 475,974 + + + + + 8.0% + + + + + + + Business days + + + + + + + 20 + + + + + 20 + + + + + + + + + Daily sales + + + + + $ + + + + + 25,702 + + + + + 23,799 + + + + + 8.0% + + + + + + + Impact of currency fluctuations + + + + + + + (0.7%) + + + + + (0.2%) + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Historical* + + + + + + + Daily sales in January + + + + + $ + + + + + 25,738 + + + + + 22,398 + + + + + Historical figures represent the averages from + + + + + + + Change in daily sales since January + + + + + + + (0.1%) + + + + + 6.3% + + + + +(1.5%) 2016 to 2019 and 2021. + + + + + + + Daily sales last month + + + + + $ + + + + + 27,516 + + + + + 24,960 + + + + + + + + + Change in daily sales since last month + + + + + + + (6.6%) + + + + + (4.7%) + + + + + (6.6%) + + + + + + + + + + + + + + + + + + + Daily sales growth by geography + + + + + + + + + + + + + + + United States + + + + + + + 8.4% + + + + + 15.4% + + + + + Calculated using US days and US dollars. + + + + + + + + + + + + + Canada/Mexico + + + + + + + 12.9% + + + + + 22.1% + + + + + + + + + Rest of World + + + + + + + (13.6%) + + + + + 25.6% + + + + + + + + + Total Company + + + + + + + 8.0% + + + + + 16.5% + + + + + + + + + + + + + + + + + + + + + Daily sales growth by end market + + + + + + + + + + + + + + + Manufacturing + + + + + + + 13.4% + + + + + 25.8% + + + + + + + + + Non-residential construction + + + + + + + (2.5%) + + + + + 13.5% + + + + + + + + + + + + + + + + + + + + + Daily sales growth by product line + + + + + + + + + + + + + + + Fasteners + + + + + + + 6.1% + + + + + 25.5% + + + + + + + + + Safety + + + + + + + 7.7% + + + + + 7.2% + + + + + + + + + Other + + + + + + + 9.9% + + + + + 14.4% + + + + + + + + + + + + + + + + + + + + Growth metrics by customer/channel type + + + + + + + + + Daily sales growth - national accounts + + + + + 12.0% + + + + + 23.0% + + + + + + + Daily sales growth - non-national accounts + + + + + 4.0% + + + + + 9.0% + + + + + + + % of Top 100 national accounts growing + + + + + 68.0% + + + + + 87.0% + + + + + + + % of public branches growing + + + + + 57.9% + + + + + 71.0% + + + + + + + + Daily sales growth rates are rounded to whole percentage rates. + + + + + + + + + Employee headcount at month end + + + + + Dec-22 + + + + + Dec-21 + + + + + + + Change + + + + + + + Nov-22 + + + + + Change + + + + + + + In-market locations (branches & Onsites) - FTE + + + + + 12,017 + + + + + 11,337 + + + + + + + 6.0% + + + + + 12,079 + + + + + (0.5%) + + + + + + + Non-in-market selling - FTE + + + + + 2,459 + + + + + 2,076 + + + + + + + 18.4% + + + + + 2,408 + + + + + 2.1% + + + + + + + Total selling personnel - FTE + + + + + 14,476 + + + + + 13,413 + + + + + + + 7.9% + + + + + + + 14,487 + + + + + (0.1%) + + + + + + + Distribution/Transportation personnel - FTE + + + + + 2,971 + + + + + 2,740 + + + + + + + 8.4% + + + + + 2,935 + + + + + 1.2% + + + + + + + Manufacturing personnel - FTE + + + + + 696 + + + + + 619 + + + + + + + 12.4% + + + + + 687 + + + + + 1.3% + + + + + + + Organizational support personnel - FTE** + + + + + 1,711 + + + + + 1,562 + + + + + *** + + + + + 9.5% + + + + + 1,697 + + + + + 0.8% + + + + + + + Total non-selling personnel - FTE + + + + + 5,378 + + + + + 4,921 + + + + + + + 9.3% + + + + + + + 5,319 + + + + + 1.1% + + + + + + + Total personnel - FTE + + + + + 19,854 + + + + + 18,334 + + + + + + + 8.3% + + + + + 19,806 + + + + + 0.2% + + + + + + + + + + + + + + + + + + + + + + + + + Total personnel - absolute + + + + + 22,386 + + + + + 20,507 + + + + + + + 9.2% + + + + + 22,378 + + + + + 0.0% + + + + + + +Historical averages exclude the impact of the March 2017 acquisition of Mansco. They also exclude 2020, a year during which many months were significantly impacted by COVID-19 surge activity and so would not be considered representative of normal activity. + + +Organizational support personnel consists of: (1) Sales & Growth Driver Support personnel (35%-40% of category), which includes sourcing, purchasing, supply chain, product development, etc.; (2) Information Technology personnel (30%-35% of category); (3) Administrative Support personnel (25%-30% of category), which includes human resources, Fastenal School of Business, accounting and finance, senior management, etc. + + +Due to a calculation error, organizational support personnel was overstated by 36 FTE in our December 2021 sales release, with total non-selling FTE and total FTE being overstated by the same amount. These figures have been adjusted in this release. + Definitions in release: + Net sales - Net sales for the period indicated. + Daily sales - Net sales divided by the number of business days in the US. FTE - Full-time equivalent headcount. + + + +Next monthly sales release date: Monday, February 6, 2023 at 6:00 AM(central time) + + +Next earnings release date: Thursday, April 13, 2023 at 6:00 AM(central time) + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fastenal Company published this content on 19 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2023 12:00:04 UTC. + + diff --git a/news/FAST/2023.01.19/Fastenal : Earnings Document.txt b/news/FAST/2023.01.19/Fastenal : Earnings Document.txt new file mode 100644 index 0000000000000000000000000000000000000000..139448ce53f65c9ff6fcf20f24414f2ddb18fff1 --- /dev/null +++ b/news/FAST/2023.01.19/Fastenal : Earnings Document.txt @@ -0,0 +1,1159 @@ + + + + + FOURTH QUARTER + + + 2022 + + + INVESTOR TELECONFERENCE + + + JANUARY 19, 2023 + + + + + 1 + + + + + + SAFE HARBOR STATEMENT + + + All statements made herein that are not historical facts (e.g., future operating results and business activity, as well as expectations regarding operations, including gross margin, future inventory levels, pricing, Onsite and weighted FMI device signings, the size of our U.S./Canada network of traditional branches, operating costs, capital expenditures, digital footprint, and supply chain difficulties) are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. More information regarding such risks can be found in our most recent annual and quarterly reports filed with the Securities and Exchange Commission. Any numerical or other representations in this presentation do not represent guidance by management and should not be construed as such. The appendix to the following presentation includes non-GAAP financial measures. Information required by Regulation G with respect to such non-GAAP financial measures can be found in the appendix including a comparison to the comparable GAAP measures. + + + 2 + + + + + + CEO MESSAGES ON 4Q22 + + + + + + 20% + + + 18% + + + 16% + + + 14% + + + 12% + + + 10% + + + 8% + + + 6% + + + 4% + + + 2% + + + 0% + + + $0.55 $0.50 + + + + + + + + + + Daily Sales Rate (DSR) Growth + + + + + + + + + + + + + + + + + + + 18.4% 18.0% + + + + + + + + + + + + + 16.0% + + + + + + + + + + + + + + + + + 14.6% + + + + + + + + + + + + + + + + + + + + + + + + + 10.3% + + + + + 10.0% + + + + + 10.7% + + + + + + + + + + + + + + + + + + + + + + + + + + + + + 6.4% + + + + + + + + + + + 5.3% + + + + + + + + 2.8% 2.5% + + + (0.1%) + + + 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 + + + EPS + + + (Fully Diluted) + + + + + +4Q22 DSR growth of +10.7% eased on tougher comparisons against the prior period and moderating demand. Against this backdrop and in our slowest seasonal quarter volume-wise, our 4Q22 operating margin was stable at 19.6%. Cash conversion returned to historic levels, reflecting normalization of supply chains. + + +2022 was a year of milestones: our eCommerce revenues surpassed $1.0B of sales; our international sales exceeded $1.0B; and our company-wide net earnings topped $1.0B. + + +Sifting through quarterly noise, our DSR growth has been strong and stable: three-year growth (2019 to 2022) in 1Q22 was 28.1%, 2Q22 was 30.0%, 3Q22 was 30.7%, and 4Q22 was 34.9%. Our three-year incremental margin was 24.1%, and our operating margin rose from 19.8% in 2019 to 20.8% in 2022. We challenged the Blue Team to be better exiting the pandemic than entering it; the Blue Team delivered. + + + + + + + + $0.45 $0.40 $0.35 $0.30 $0.25 $0.20 + + + + + + + + $0.43 + + + + + • We experienced margin pressure in 4Q22. Fasteners were + + + + + + + $0.40 + + + + + challenging, but understood, while other products fell more + + + + + + + + + + + + + $0.34 + + + + + than expected. We attribute the latter to the nexus of easing + + + + + + + + + + + + + demand, improved product availability, and the often + + + + + + + + + + + + + unplanned nature of certain products. + + + + + + + + + + + + + + $0.15 $0.10 $0.05 $0.00 + + + + + 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 + + + 3 + + + + + +Though headcount finished a little higher than we like, 2022 had strong labor productivity, with FTE growth lagging sales and profit growth due to hiring discipline and a focus on re- stocking our part-time ranks. We expect this to remain a priority in 2023. + + + + + + + + + 4Q22 GROWTH DRIVER UPDATE + + + + + + Onsite Signings and Active Locations + + + + + + 160 + + + + + + + 1,623 + + + + + 1,800 + + + + + + + + + + + 1,600 + + + + + + + 140 + + + + + + + 1,416 + + + + + + + + + + + 1,400 + + + + + + + 120 + + + + + 1,265 + + + + + + + + + 100 + + + + + + + + + 1,200 + + + + + + + + + + + 1,000 + + + + + + + 80 + + + + + + + + + + + + + 62 + + + + + 800 + + + + + + + 60 + + + + + + + + + + + 44 + + + + + 600 + + + + + + + + + 36 + + + + + + + 40 + + + + + + + 400 + + + + + + + + + + + + + + + + + + + + + 20 + + + + + + + + + 200 + + + + + + + 0 + + + + + 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 + + + + + 0 + + + + + + + + + + + + + + + Signings + + + + + Active Locations + + + + + + + + Weighted FMI Device Signings and Installations (1) + + + + + + 10K + + + + + + + + + 120K + + + + + + + + + + + 102,151 + + + + + + + + + 8K + + + + + 83,951 + + + + + 92,874 + + + + + 100K + + + + + + + + + + + + + + + + + + + + + 6K + + + + + + + + + 80K + + + + + + + + + 4,730 + + + + + + + + + + + + + 60K + + + + + + + + + + + 3,972 + + + + + + + 4K + + + + + 3,548 + + + + + + + + + + + 40K + + + + + + + + + + + + + + + 2K + + + + + + + + + 20K + + + + + + + + + + + + + + + 0 + + + + + + + + + 0 + + + + + + + + + 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 + + + + + + + + + + +Onsites: We had 62 signings in 4Q22 and finished with 1,623 active sites, +14.6% from 4Q21. Daily sales, excluding transferred branch sales, grew at a high-teens rate from 4Q21. Our 2023 goal is 375 to 400 signings. + + +FMI Technology: We signed 4,730 weighted devices in 4Q22 (76 per day), versus 3,972 in 4Q21 (64 per day), with a final installed base of 102,151 weighted devices, +10.0% from 4Q21. Activity through our FMI technology platform represented 38.7% of sales in 4Q22, versus 35.1% of sales in 4Q21 and 27.2% of sales in 4Q20. Our 2023 goal is 23,000 to 25,000 MEU of FASTBin and FASTVend signings. + + +eCommerce: Daily sales rose 48.2% in 4Q22. Large customer-oriented electronic data interface (EDI) was up 45.0%, while web sales were up 58.8%. + + +Sales through our Digital Footprint (FMI technology plus non-FMI-relatedeCommerce) was 52.6% of sales in 4Q22, versus 46.4% in 4Q21. We anticipate we will hit 65% of our sales running through our Digital Footprint in 2023. + + + + + + + + + + + + (1) + + + + + Data excludes ~6.5K non-weighted vending devices related to a locker lease program + + + + + + + Signings + + + + + + + Installations + + + + + + + + + + + + + + 4 + + + + + + + BRANCH CONSOLIDATION + + + + + + Branch Count + + + 3,000 + + + 2,500 + + + 2,000 + + + 1,500 + + + 1,000 + + + 500 + + + 0 + + + + + + 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 + + + + + 2025(E) + + + + + + + U.S. Branches + + + + + Canada Branches + + + + + + + + YOY Branch Count Change + + + + + + + + 2016 + + + + + 2017 + + + + + 2018 + + + + + 2019 + + + + + 2020 + + + + + 2021 + + + + + 2022 + + + + + + + U.S. + + + + + (5.4%) + + + + + (5.4%) + + + + + (7.3%) + + + + + (6.1%) + + + + + (6.4%) + + + + + (12.6%) + + + + + (7.7%) + + + + + + + Canada + + + + + (1.0%) + + + + + (1.5%) + + + + + (4.6%) + + + + + (1.6%) + + + + + (2.2%) + + + + + (3.4%) + + + + + (2.3%) + + + + + + + Total + + + + + (5.1%) + + + + + (5.0%) + + + + + (7.1%) + + + + + (5.7%) + + + + + (6.1%) + + + + + (11.7%) + + + + + (7.2%) + + + + + + + + + + + + + + + + + + + + + + + + + + +Total in-market1 locations were 3,306 at the end of 4Q22, up 3.0% from 3,209 at 4Q21. Our total in-market location count continues to grow due to a rising installed base of Onsites. In 2015, Onsites constituted 9.1% of our in- market locations; in 2022, they were 49.1%. + + +Since 2015, we have seen a steady reduction in our traditional branches, primarily within the United States. Our focus on Onsites, shifting branch priorities, and the supply chain tools comprising our Digital Footprint have provided opportunities for network consolidation. + + +Our U.S./Canada network will likely trend toward 1,450 traditional branches by 2025. + + +At our peak United States branch count in 2013, we believe we had 30-minute access to 95.0% of the U.S. manufacturing base. We anticipate it will approximate 93.5% at our target branch count of 1,450. + + + + +In-marketlocations include traditional branches, international branches, and Onsites + + + + + + + 5 + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fastenal Company published this content on 19 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2023 12:00:04 UTC. + + diff --git a/news/FAST/2023.01.19/Fastenal : Presentation.txt b/news/FAST/2023.01.19/Fastenal : Presentation.txt new file mode 100644 index 0000000000000000000000000000000000000000..139448ce53f65c9ff6fcf20f24414f2ddb18fff1 --- /dev/null +++ b/news/FAST/2023.01.19/Fastenal : Presentation.txt @@ -0,0 +1,1159 @@ + + + + + FOURTH QUARTER + + + 2022 + + + INVESTOR TELECONFERENCE + + + JANUARY 19, 2023 + + + + + 1 + + + + + + SAFE HARBOR STATEMENT + + + All statements made herein that are not historical facts (e.g., future operating results and business activity, as well as expectations regarding operations, including gross margin, future inventory levels, pricing, Onsite and weighted FMI device signings, the size of our U.S./Canada network of traditional branches, operating costs, capital expenditures, digital footprint, and supply chain difficulties) are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. More information regarding such risks can be found in our most recent annual and quarterly reports filed with the Securities and Exchange Commission. Any numerical or other representations in this presentation do not represent guidance by management and should not be construed as such. The appendix to the following presentation includes non-GAAP financial measures. Information required by Regulation G with respect to such non-GAAP financial measures can be found in the appendix including a comparison to the comparable GAAP measures. + + + 2 + + + + + + CEO MESSAGES ON 4Q22 + + + + + + 20% + + + 18% + + + 16% + + + 14% + + + 12% + + + 10% + + + 8% + + + 6% + + + 4% + + + 2% + + + 0% + + + $0.55 $0.50 + + + + + + + + + + Daily Sales Rate (DSR) Growth + + + + + + + + + + + + + + + + + + + 18.4% 18.0% + + + + + + + + + + + + + 16.0% + + + + + + + + + + + + + + + + + 14.6% + + + + + + + + + + + + + + + + + + + + + + + + + 10.3% + + + + + 10.0% + + + + + 10.7% + + + + + + + + + + + + + + + + + + + + + + + + + + + + + 6.4% + + + + + + + + + + + 5.3% + + + + + + + + 2.8% 2.5% + + + (0.1%) + + + 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 + + + EPS + + + (Fully Diluted) + + + + + +4Q22 DSR growth of +10.7% eased on tougher comparisons against the prior period and moderating demand. Against this backdrop and in our slowest seasonal quarter volume-wise, our 4Q22 operating margin was stable at 19.6%. Cash conversion returned to historic levels, reflecting normalization of supply chains. + + +2022 was a year of milestones: our eCommerce revenues surpassed $1.0B of sales; our international sales exceeded $1.0B; and our company-wide net earnings topped $1.0B. + + +Sifting through quarterly noise, our DSR growth has been strong and stable: three-year growth (2019 to 2022) in 1Q22 was 28.1%, 2Q22 was 30.0%, 3Q22 was 30.7%, and 4Q22 was 34.9%. Our three-year incremental margin was 24.1%, and our operating margin rose from 19.8% in 2019 to 20.8% in 2022. We challenged the Blue Team to be better exiting the pandemic than entering it; the Blue Team delivered. + + + + + + + + $0.45 $0.40 $0.35 $0.30 $0.25 $0.20 + + + + + + + + $0.43 + + + + + • We experienced margin pressure in 4Q22. Fasteners were + + + + + + + $0.40 + + + + + challenging, but understood, while other products fell more + + + + + + + + + + + + + $0.34 + + + + + than expected. We attribute the latter to the nexus of easing + + + + + + + + + + + + + demand, improved product availability, and the often + + + + + + + + + + + + + unplanned nature of certain products. + + + + + + + + + + + + + + $0.15 $0.10 $0.05 $0.00 + + + + + 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 + + + 3 + + + + + +Though headcount finished a little higher than we like, 2022 had strong labor productivity, with FTE growth lagging sales and profit growth due to hiring discipline and a focus on re- stocking our part-time ranks. We expect this to remain a priority in 2023. + + + + + + + + + 4Q22 GROWTH DRIVER UPDATE + + + + + + Onsite Signings and Active Locations + + + + + + 160 + + + + + + + 1,623 + + + + + 1,800 + + + + + + + + + + + 1,600 + + + + + + + 140 + + + + + + + 1,416 + + + + + + + + + + + 1,400 + + + + + + + 120 + + + + + 1,265 + + + + + + + + + 100 + + + + + + + + + 1,200 + + + + + + + + + + + 1,000 + + + + + + + 80 + + + + + + + + + + + + + 62 + + + + + 800 + + + + + + + 60 + + + + + + + + + + + 44 + + + + + 600 + + + + + + + + + 36 + + + + + + + 40 + + + + + + + 400 + + + + + + + + + + + + + + + + + + + + + 20 + + + + + + + + + 200 + + + + + + + 0 + + + + + 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 + + + + + 0 + + + + + + + + + + + + + + + Signings + + + + + Active Locations + + + + + + + + Weighted FMI Device Signings and Installations (1) + + + + + + 10K + + + + + + + + + 120K + + + + + + + + + + + 102,151 + + + + + + + + + 8K + + + + + 83,951 + + + + + 92,874 + + + + + 100K + + + + + + + + + + + + + + + + + + + + + 6K + + + + + + + + + 80K + + + + + + + + + 4,730 + + + + + + + + + + + + + 60K + + + + + + + + + + + 3,972 + + + + + + + 4K + + + + + 3,548 + + + + + + + + + + + 40K + + + + + + + + + + + + + + + 2K + + + + + + + + + 20K + + + + + + + + + + + + + + + 0 + + + + + + + + + 0 + + + + + + + + + 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 + + + + + + + + + + +Onsites: We had 62 signings in 4Q22 and finished with 1,623 active sites, +14.6% from 4Q21. Daily sales, excluding transferred branch sales, grew at a high-teens rate from 4Q21. Our 2023 goal is 375 to 400 signings. + + +FMI Technology: We signed 4,730 weighted devices in 4Q22 (76 per day), versus 3,972 in 4Q21 (64 per day), with a final installed base of 102,151 weighted devices, +10.0% from 4Q21. Activity through our FMI technology platform represented 38.7% of sales in 4Q22, versus 35.1% of sales in 4Q21 and 27.2% of sales in 4Q20. Our 2023 goal is 23,000 to 25,000 MEU of FASTBin and FASTVend signings. + + +eCommerce: Daily sales rose 48.2% in 4Q22. Large customer-oriented electronic data interface (EDI) was up 45.0%, while web sales were up 58.8%. + + +Sales through our Digital Footprint (FMI technology plus non-FMI-relatedeCommerce) was 52.6% of sales in 4Q22, versus 46.4% in 4Q21. We anticipate we will hit 65% of our sales running through our Digital Footprint in 2023. + + + + + + + + + + + + (1) + + + + + Data excludes ~6.5K non-weighted vending devices related to a locker lease program + + + + + + + Signings + + + + + + + Installations + + + + + + + + + + + + + + 4 + + + + + + + BRANCH CONSOLIDATION + + + + + + Branch Count + + + 3,000 + + + 2,500 + + + 2,000 + + + 1,500 + + + 1,000 + + + 500 + + + 0 + + + + + + 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 + + + + + 2025(E) + + + + + + + U.S. Branches + + + + + Canada Branches + + + + + + + + YOY Branch Count Change + + + + + + + + 2016 + + + + + 2017 + + + + + 2018 + + + + + 2019 + + + + + 2020 + + + + + 2021 + + + + + 2022 + + + + + + + U.S. + + + + + (5.4%) + + + + + (5.4%) + + + + + (7.3%) + + + + + (6.1%) + + + + + (6.4%) + + + + + (12.6%) + + + + + (7.7%) + + + + + + + Canada + + + + + (1.0%) + + + + + (1.5%) + + + + + (4.6%) + + + + + (1.6%) + + + + + (2.2%) + + + + + (3.4%) + + + + + (2.3%) + + + + + + + Total + + + + + (5.1%) + + + + + (5.0%) + + + + + (7.1%) + + + + + (5.7%) + + + + + (6.1%) + + + + + (11.7%) + + + + + (7.2%) + + + + + + + + + + + + + + + + + + + + + + + + + + +Total in-market1 locations were 3,306 at the end of 4Q22, up 3.0% from 3,209 at 4Q21. Our total in-market location count continues to grow due to a rising installed base of Onsites. In 2015, Onsites constituted 9.1% of our in- market locations; in 2022, they were 49.1%. + + +Since 2015, we have seen a steady reduction in our traditional branches, primarily within the United States. Our focus on Onsites, shifting branch priorities, and the supply chain tools comprising our Digital Footprint have provided opportunities for network consolidation. + + +Our U.S./Canada network will likely trend toward 1,450 traditional branches by 2025. + + +At our peak United States branch count in 2013, we believe we had 30-minute access to 95.0% of the U.S. manufacturing base. We anticipate it will approximate 93.5% at our target branch count of 1,450. + + + + +In-marketlocations include traditional branches, international branches, and Onsites + + + + + + + 5 + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fastenal Company published this content on 19 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2023 12:00:04 UTC. + + diff --git a/news/FAST/2023.01.19/Fastenal : Q4 2022 Investor Teleconference Presentation.txt b/news/FAST/2023.01.19/Fastenal : Q4 2022 Investor Teleconference Presentation.txt new file mode 100644 index 0000000000000000000000000000000000000000..139448ce53f65c9ff6fcf20f24414f2ddb18fff1 --- /dev/null +++ b/news/FAST/2023.01.19/Fastenal : Q4 2022 Investor Teleconference Presentation.txt @@ -0,0 +1,1159 @@ + + + + + FOURTH QUARTER + + + 2022 + + + INVESTOR TELECONFERENCE + + + JANUARY 19, 2023 + + + + + 1 + + + + + + SAFE HARBOR STATEMENT + + + All statements made herein that are not historical facts (e.g., future operating results and business activity, as well as expectations regarding operations, including gross margin, future inventory levels, pricing, Onsite and weighted FMI device signings, the size of our U.S./Canada network of traditional branches, operating costs, capital expenditures, digital footprint, and supply chain difficulties) are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. More information regarding such risks can be found in our most recent annual and quarterly reports filed with the Securities and Exchange Commission. Any numerical or other representations in this presentation do not represent guidance by management and should not be construed as such. The appendix to the following presentation includes non-GAAP financial measures. Information required by Regulation G with respect to such non-GAAP financial measures can be found in the appendix including a comparison to the comparable GAAP measures. + + + 2 + + + + + + CEO MESSAGES ON 4Q22 + + + + + + 20% + + + 18% + + + 16% + + + 14% + + + 12% + + + 10% + + + 8% + + + 6% + + + 4% + + + 2% + + + 0% + + + $0.55 $0.50 + + + + + + + + + + Daily Sales Rate (DSR) Growth + + + + + + + + + + + + + + + + + + + 18.4% 18.0% + + + + + + + + + + + + + 16.0% + + + + + + + + + + + + + + + + + 14.6% + + + + + + + + + + + + + + + + + + + + + + + + + 10.3% + + + + + 10.0% + + + + + 10.7% + + + + + + + + + + + + + + + + + + + + + + + + + + + + + 6.4% + + + + + + + + + + + 5.3% + + + + + + + + 2.8% 2.5% + + + (0.1%) + + + 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 + + + EPS + + + (Fully Diluted) + + + + + +4Q22 DSR growth of +10.7% eased on tougher comparisons against the prior period and moderating demand. Against this backdrop and in our slowest seasonal quarter volume-wise, our 4Q22 operating margin was stable at 19.6%. Cash conversion returned to historic levels, reflecting normalization of supply chains. + + +2022 was a year of milestones: our eCommerce revenues surpassed $1.0B of sales; our international sales exceeded $1.0B; and our company-wide net earnings topped $1.0B. + + +Sifting through quarterly noise, our DSR growth has been strong and stable: three-year growth (2019 to 2022) in 1Q22 was 28.1%, 2Q22 was 30.0%, 3Q22 was 30.7%, and 4Q22 was 34.9%. Our three-year incremental margin was 24.1%, and our operating margin rose from 19.8% in 2019 to 20.8% in 2022. We challenged the Blue Team to be better exiting the pandemic than entering it; the Blue Team delivered. + + + + + + + + $0.45 $0.40 $0.35 $0.30 $0.25 $0.20 + + + + + + + + $0.43 + + + + + • We experienced margin pressure in 4Q22. Fasteners were + + + + + + + $0.40 + + + + + challenging, but understood, while other products fell more + + + + + + + + + + + + + $0.34 + + + + + than expected. We attribute the latter to the nexus of easing + + + + + + + + + + + + + demand, improved product availability, and the often + + + + + + + + + + + + + unplanned nature of certain products. + + + + + + + + + + + + + + $0.15 $0.10 $0.05 $0.00 + + + + + 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 + + + 3 + + + + + +Though headcount finished a little higher than we like, 2022 had strong labor productivity, with FTE growth lagging sales and profit growth due to hiring discipline and a focus on re- stocking our part-time ranks. We expect this to remain a priority in 2023. + + + + + + + + + 4Q22 GROWTH DRIVER UPDATE + + + + + + Onsite Signings and Active Locations + + + + + + 160 + + + + + + + 1,623 + + + + + 1,800 + + + + + + + + + + + 1,600 + + + + + + + 140 + + + + + + + 1,416 + + + + + + + + + + + 1,400 + + + + + + + 120 + + + + + 1,265 + + + + + + + + + 100 + + + + + + + + + 1,200 + + + + + + + + + + + 1,000 + + + + + + + 80 + + + + + + + + + + + + + 62 + + + + + 800 + + + + + + + 60 + + + + + + + + + + + 44 + + + + + 600 + + + + + + + + + 36 + + + + + + + 40 + + + + + + + 400 + + + + + + + + + + + + + + + + + + + + + 20 + + + + + + + + + 200 + + + + + + + 0 + + + + + 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 + + + + + 0 + + + + + + + + + + + + + + + Signings + + + + + Active Locations + + + + + + + + Weighted FMI Device Signings and Installations (1) + + + + + + 10K + + + + + + + + + 120K + + + + + + + + + + + 102,151 + + + + + + + + + 8K + + + + + 83,951 + + + + + 92,874 + + + + + 100K + + + + + + + + + + + + + + + + + + + + + 6K + + + + + + + + + 80K + + + + + + + + + 4,730 + + + + + + + + + + + + + 60K + + + + + + + + + + + 3,972 + + + + + + + 4K + + + + + 3,548 + + + + + + + + + + + 40K + + + + + + + + + + + + + + + 2K + + + + + + + + + 20K + + + + + + + + + + + + + + + 0 + + + + + + + + + 0 + + + + + + + + + 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 + + + + + + + + + + +Onsites: We had 62 signings in 4Q22 and finished with 1,623 active sites, +14.6% from 4Q21. Daily sales, excluding transferred branch sales, grew at a high-teens rate from 4Q21. Our 2023 goal is 375 to 400 signings. + + +FMI Technology: We signed 4,730 weighted devices in 4Q22 (76 per day), versus 3,972 in 4Q21 (64 per day), with a final installed base of 102,151 weighted devices, +10.0% from 4Q21. Activity through our FMI technology platform represented 38.7% of sales in 4Q22, versus 35.1% of sales in 4Q21 and 27.2% of sales in 4Q20. Our 2023 goal is 23,000 to 25,000 MEU of FASTBin and FASTVend signings. + + +eCommerce: Daily sales rose 48.2% in 4Q22. Large customer-oriented electronic data interface (EDI) was up 45.0%, while web sales were up 58.8%. + + +Sales through our Digital Footprint (FMI technology plus non-FMI-relatedeCommerce) was 52.6% of sales in 4Q22, versus 46.4% in 4Q21. We anticipate we will hit 65% of our sales running through our Digital Footprint in 2023. + + + + + + + + + + + + (1) + + + + + Data excludes ~6.5K non-weighted vending devices related to a locker lease program + + + + + + + Signings + + + + + + + Installations + + + + + + + + + + + + + + 4 + + + + + + + BRANCH CONSOLIDATION + + + + + + Branch Count + + + 3,000 + + + 2,500 + + + 2,000 + + + 1,500 + + + 1,000 + + + 500 + + + 0 + + + + + + 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 + + + + + 2025(E) + + + + + + + U.S. Branches + + + + + Canada Branches + + + + + + + + YOY Branch Count Change + + + + + + + + 2016 + + + + + 2017 + + + + + 2018 + + + + + 2019 + + + + + 2020 + + + + + 2021 + + + + + 2022 + + + + + + + U.S. + + + + + (5.4%) + + + + + (5.4%) + + + + + (7.3%) + + + + + (6.1%) + + + + + (6.4%) + + + + + (12.6%) + + + + + (7.7%) + + + + + + + Canada + + + + + (1.0%) + + + + + (1.5%) + + + + + (4.6%) + + + + + (1.6%) + + + + + (2.2%) + + + + + (3.4%) + + + + + (2.3%) + + + + + + + Total + + + + + (5.1%) + + + + + (5.0%) + + + + + (7.1%) + + + + + (5.7%) + + + + + (6.1%) + + + + + (11.7%) + + + + + (7.2%) + + + + + + + + + + + + + + + + + + + + + + + + + + +Total in-market1 locations were 3,306 at the end of 4Q22, up 3.0% from 3,209 at 4Q21. Our total in-market location count continues to grow due to a rising installed base of Onsites. In 2015, Onsites constituted 9.1% of our in- market locations; in 2022, they were 49.1%. + + +Since 2015, we have seen a steady reduction in our traditional branches, primarily within the United States. Our focus on Onsites, shifting branch priorities, and the supply chain tools comprising our Digital Footprint have provided opportunities for network consolidation. + + +Our U.S./Canada network will likely trend toward 1,450 traditional branches by 2025. + + +At our peak United States branch count in 2013, we believe we had 30-minute access to 95.0% of the U.S. manufacturing base. We anticipate it will approximate 93.5% at our target branch count of 1,450. + + + + +In-marketlocations include traditional branches, international branches, and Onsites + + + + + + + 5 + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fastenal Company published this content on 19 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2023 12:00:04 UTC. + + diff --git a/news/FAST/2023.01.19/Fastenal : Q4 Earnings Snapshot.txt b/news/FAST/2023.01.19/Fastenal : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..fb93be96212b919bddeec414d803181be192b49c --- /dev/null +++ b/news/FAST/2023.01.19/Fastenal : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +WINONA, Minn. (AP) _ Fastenal Co. (FAST) on Thursday reported fourth-quarter net income of $245.6 million.On a per-share basis, the Winona, Minnesota-based company said it had profit of 43 cents.The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.The maker of industrial and construction fasteners posted revenue of $1.7 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.67 billion.For the year, the company reported profit of $1.09 billion, or $1.89 per share. Revenue was reported as $6.98 billion.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FAST at https://www.zacks.com/ap/FASTCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/FAST/2023.01.19/Fastenal Company Reports 2022 Annual and Fourth Quarter Earnings.txt b/news/FAST/2023.01.19/Fastenal Company Reports 2022 Annual and Fourth Quarter Earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..ab06b33b7c542bcab7e513d0b95849c7aca43899 --- /dev/null +++ b/news/FAST/2023.01.19/Fastenal Company Reports 2022 Annual and Fourth Quarter Earnings.txt @@ -0,0 +1,4071 @@ + +Fastenal Company (Nasdaq:FAST), a leader in the wholesale distribution of industrial and construction supplies, today announced its financial results for the quarter and year ended December 31, 2022. Except for share and per share information, or as otherwise noted below, dollar amounts are stated in millions. Throughout this document, percentage and dollar calculations, which are based on non-rounded dollar values, may not be able to be recalculated using the dollar values included in this document due to the rounding of those dollar values. References to daily sales rate (DSR) change may reflect either growth (positive) or contraction (negative) for the applicable period. + +PERFORMANCE SUMMARY + +  + +Twelve-month Period + +  + +Three-month Period + +  + +  + +2022 + +  + +  + +2021 + +  + +  + +Change + +  + +  + +2022 + +  + +  + +2021 + +  + +  + +Change + +Net sales + +$ + +6,980.6 + +  + +  + +6,010.9 + +  + +  + +16.1 + +% + +  + +$ + +1,695.6 + +  + +  + +1,531.8 + +  + +  + +10.7 + +% + +Business days + +  + +254 + +  + +  + +253 + +  + +  + +  + +  + +  + +62 + +  + +  + +62 + +  + +  + +  + +Daily sales + +$ + +27.5 + +  + +  + +23.8 + +  + +  + +15.7 + +% + +  + +$ + +27.3 + +  + +  + +24.7 + +  + +  + +10.7 + +% + +Gross profit + +$ + +3,215.8 + +  + +  + +2,777.2 + +  + +  + +15.8 + +% + +  + +$ + +768.4 + +  + +  + +712.9 + +  + +  + +7.8 + +% + +% of net sales + +  + +46.1 + +% + +  + +46.2 + +% + +  + +  + +  + +  + +45.3 + +% + +  + +46.5 + +% + +  + +  + +Operating and administrative expenses + +$ + +1,762.2 + +  + +  + +1,559.8 + +  + +  + +13.0 + +% + +  + +$ + +435.4 + +  + +  + +412.0 + +  + +  + +5.7 + +% + +% of net sales + +  + +25.2 + +% + +  + +26.0 + +% + +  + +  + +  + +  + +25.7 + +% + +  + +26.9 + +% + +  + +  + +Operating income + +$ + +1,453.6 + +  + +  + +1,217.4 + +  + +  + +19.4 + +% + +  + +$ + +333.0 + +  + +  + +300.9 + +  + +  + +10.7 + +% + +% of net sales + +  + +20.8 + +% + +  + +20.3 + +% + +  + +  + +  + +  + +19.6 + +% + +  + +19.6 + +% + +  + +  + +Earnings before income taxes + +$ + +1,440.0 + +  + +  + +1,207.8 + +  + +  + +19.2 + +% + +  + +$ + +328.2 + +  + +  + +298.5 + +  + +  + +9.9 + +% + +% of net sales + +  + +20.6 + +% + +  + +20.1 + +% + +  + +  + +  + +  + +19.4 + +% + +  + +19.5 + +% + +  + +  + +Net earnings + +$ + +1,086.9 + +  + +  + +925.0 + +  + +  + +17.5 + +% + +  + +$ + +245.6 + +  + +  + +231.2 + +  + +  + +6.2 + +% + +Diluted net earnings per share + +$ + +1.89 + +  + +  + +1.60 + +  + +  + +17.8 + +% + +  + +$ + +0.43 + +  + +  + +0.40 + +  + +  + +7.1 + +% + +Quarterly Results of Operations + +Net sales increased $163.8, or 10.7%, in the fourth quarter of 2022 when compared to the fourth quarter of 2021. The number of business days were the same in both periods. We experienced higher unit sales in the fourth quarter of 2022 that contributed to the increase in net sales in the period. This was due to further growth in underlying demand in markets tied to industrial capital goods and commodities, which more than offset softer markets tied to consumer goods and relatively lower growth in construction. Foreign exchange negatively affected sales in the fourth quarter of 2022 by approximately 90 basis points. + +The overall impact of product pricing on net sales in the fourth quarter of 2022 was 350 to 380 basis points compared to the fourth quarter of 2021. The increase is from actions taken over the past twelve months intended to mitigate the impact of marketplace inflation for our products, particularly fasteners, and transportation services. We did not take any broad pricing actions in the fourth quarter of 2022, and price levels in the market remained stable. The favorable impact of product pricing moderated in the fourth quarter of 2022 relative to the third quarter of 2022 due to comparisons against initial price events that began in the third quarter of 2021. Spot prices in the marketplace for many inputs, particularly fuel, transportation services, and steel, have moderated over the last six months. Due to our long supply chain for imported fasteners and certain non-fastener products, however, it is likely to take several quarters before this is reflected in our cost of goods. The impact of product pricing on net sales in the fourth quarter of 2021 was 440 to 470 basis points. + +From a product standpoint, we have three categories: fasteners, safety supplies, and other product lines, the latter of which includes eight smaller product categories, such as tools, janitorial supplies, and cutting tools. The DSR change when compared to the same period in the prior year and the percent of sales in the period were as follows: + +  + +DSR Change + +Three-month Period + +  + +% of Sales + +Three-month Period + +  + +2022 + +  + +2021 + +  + +  + +2022 + +  + +2021 + +  + +Fasteners + +9.1 + +% + +24.2 + +% + +  + +33.0 + +% + +33.5 + +% + +Safety supplies + +10.7 + +% + +3.5 + +% + +  + +21.3 + +% + +21.4 + +% + +Other + +12.1 + +% + +12.8 + +% + +  + +45.7 + +% + +45.1 + +% + +Our end markets consist of manufacturing, non-residential construction, and other, the latter of which includes resellers, government/education, and transportation/warehousing. The DSR change when compared to the same period in the prior year and the percent of sales in the period were as follows: + +  + +DSR Change + +Three-month Period + +  + +% of Sales + +Three-month Period + +  + +2022 + +  + +2021 + +  + +  + +2022 + +  + +2021 + +  + +Manufacturing + +16.0 + +% + +23.8 + +% + +  + +72.9 + +% + +69.7 + +% + +Non-residential construction + +-0.6 + +% + +14.8 + +% + +  + +9.8 + +% + +11.0 + +% + +Other + +-0.9 + +% + +-9.9 + +% + +  + +17.3 + +% + +19.3 + +% + +We report our customers in two categories: national accounts, which are customers with a multi-site contract, and non-national accounts, which include large regional customers, small local customers, and government customers. Sales to most of our national account customers grew in the fourth quarter of 2022 over the year earlier period, as our sales grew at 79 of our Top 100 national account customers. The DSR change when compared to the same period in the prior year and the percent of sales in the period were as follows: + +  + +DSR Change + +Three-month Period + +  + +% of Sales + +Three-month Period + +  + +2022 + +  + +2021 + +  + +  + +2022 + +  + +2021 + +  + +National Accounts + +15.0 + +% + +19.9 + +% + +  + +58.9 + +% + +57.8 + +% + +Non-National Accounts + +5.6 + +% + +7.6 + +% + +  + +41.1 + +% + +42.2 + +% + +Our gross profit, as a percentage of net sales, declined to 45.3% in the fourth quarter of 2022 from 46.5% in the fourth quarter of 2021. The decline in our gross profit percentage was primarily related to three factors. First, the net impact from mix was dilutive. We experienced relatively strong growth from our Onsite customers, national account customers, and non-fastener products, each of which tend to have a lower gross margin percentage than our business as a whole. Second, we had lower product margins in certain of our other product categories. We believe slower demand and greater product availability in the marketplace due to supply chain normalization has put some margin pressure on products that tend to be sold less frequently. Third, we experienced unfavorable price/cost, reflecting stable pricing for our products and services, but slightly higher costs. These impacts were slightly offset by a favorable contribution from freight, where we continued to experience healthy revenue which allowed us to leverage relatively stable costs and narrowed our freight losses. + +Our operating income, as a percentage of net sales, was unchanged at 19.6% in the fourth quarter of 2022 from 19.6% in the fourth quarter of 2021. This was due to improved operating expense leverage, which offset the decline in our gross profit percentage. Our operating and administrative expenses, as a percentage of net sales, fell to 25.7% in the fourth quarter of 2022 from 26.9% in the fourth quarter of 2021. This was primarily due to a decline, as a percentage of net sales, in employee-related and occupancy-related expenses. + +Employee-related expenses, which represent 70% to 75% of total operating and administrative expenses, increased 6.0% in the fourth quarter of 2022 compared to the fourth quarter of 2021. We experienced an increase in employee base pay due to higher average FTE during the period and, to a lesser degree, higher average wages. Bonus and commission payments decreased slightly reflecting slower sales and profit growth versus the year-ago period. We also experienced lower healthcare expenses reflecting post-COVID normalization of the healthcare environment. This was partly offset by higher profit sharing costs. Occupancy-related expenses, which represent 15% to 20% of total operating and administrative expenses, increased 0.1% in the fourth quarter of 2022 compared to the fourth quarter of 2021. Facility costs were slightly higher, with higher utility expenses more than offsetting reduced rents related to the reduction in our branch locations versus the year-earlier period. We also saw an increase in materials and equipment involved in maintaining and upgrading our facilities. Combined, all other operating and administrative expenses, which represent 10% to 15% of total operating and administrative expenses, increased 11.9% in the fourth quarter of 2022 compared to the fourth quarter of 2021. The increase in other operating and administrative expenses relates primarily to higher spending on information technology related to mobility hardware rollouts and general inflation for IT services and higher product movement and fuel costs for our local truck fleet. + +Our net interest expense was $4.8 in the fourth quarter of 2022, compared to $2.4 in the fourth quarter of 2021. This increase was due to higher average debt balances and higher average interest rates on those borrowings during the period. + +We recorded income tax expense of $82.6 in the fourth quarter of 2022, or 25.2% of earnings before income taxes. Income tax expense was $67.3 in the fourth quarter of 2021, or 22.6% of earnings before income taxes. The increase in our tax rate in the fourth quarter of 2022 is due primarily to an increase in state income tax expense, an increase in employee expense that was non-deductible due to strong financial results, and the absence of certain favorable reserve adjustments that benefited the fourth quarter of 2021. We believe our ongoing tax rate, absent any discrete tax items or broader changes to tax law, will be approximately 24.5%. + +Our net earnings during the fourth quarter of 2022 were $245.6, an increase of 6.2% compared to the fourth quarter of 2021. Our diluted net earnings per share were $0.43 during the fourth quarter of 2022, which increased from $0.40 during the fourth quarter of 2021. + +Growth Driver Performance + +The table below summarizes the signings and installations of, and sales through, our FMI devices. + +  + +Twelve-month Period + +  + +Three-month Period + +  + +  + +2022 + +  + +  + +2021 + +  + +  + +Change + +  + +  + +2022 + +  + +  + +2021 + +  + +  + +Change + +Weighted FASTBin/FASTVend signings (MEUs) + +  + +20,735 + +  + +  + +19,311 + +  + +  + +7.4 + +% + +  + +  + +4,730 + +  + +  + +3,972 + +  + +  + +19.1 + +% + +Signings per day + +  + +82 + +  + +  + +76 + +  + +  + +  + +  + +  + +76 + +  + +  + +64 + +  + +  + +  + +Weighted FASTBin/FASTVend installations (MEUs; end of period) + +  + +  + +  + +  + +  + +  + +  + +102,151 + +  + +  + +92,874 + +  + +  + +10.0 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +FASTStock sales + +$ + +832.0 + +  + +  + +587.6 + +  + +  + +41.6 + +% + +  + +$ + +210.4 + +  + +  + +170.7 + +  + +  + +23.2 + +% + +% of sales + +  + +11.8 + +% + +  + +9.7 + +% + +  + +  + +  + +  + +12.3 + +% + +  + +11.0 + +% + +  + +  + +FASTBin/FASTVend sales + +$ + +1,755.3 + +  + +  + +1,353.7 + +  + +  + +29.7 + +% + +  + +$ + +453.0 + +  + +  + +372.6 + +  + +  + +21.6 + +% + +% of sales + +  + +24.9 + +% + +  + +22.3 + +% + +  + +  + +  + +  + +26.4 + +% + +  + +24.1 + +% + +  + +  + +FMI sales + +$ + +2,587.3 + +  + +  + +1,941.3 + +  + +  + +33.3 + +% + +  + +$ + +663.4 + +  + +  + +543.3 + +  + +  + +22.1 + +% + +FMI daily sales + +$ + +10.2 + +  + +  + +7.7 + +  + +  + +32.7 + +% + +  + +$ + +10.7 + +  + +  + +8.8 + +  + +  + +22.1 + +% + +% of sales + +  + +36.7 + +% + +  + +32.0 + +% + +  + +  + +  + +  + +38.7 + +% + +  + +35.1 + +% + +  + +  + +Our goal for weighted FASTBin and FASTVend device signings in 2023 is 23,000 to 25,000 MEUs. + +All metrics provided above exclude approximately 6,500 non-weighted vending devices that are part of a leased locker program. + +Our digital products and services are comprised of sales through FMI (FASTStock, FASTBin, and FASTVend) plus that proportion of our eCommerce sales that do not represent billings of FMI services (collectively, our Digital Footprint). We believe the data that is created through our digital capabilities enhances product visibility, traceability, and control that reduces risk in operations and creates ordering and fulfillment efficiencies for both ourselves and our customers. As a result, we believe our opportunity to grow our business will be enhanced through the continued development and expansion of our digital capabilities. + +Our Digital Footprint in the fourth quarter of 2022 represented 52.6% of our sales, an increase from 46.4% of sales in the fourth quarter of 2021. + +Balance Sheet and Cash Flow + +We produced operating cash flow of $301.9 in the fourth quarter of 2022, an increase of 93.0% from the fourth quarter of 2021, representing 122.9% of the period's net earnings versus 67.7% in the fourth quarter of 2021. The improvement reflects working capital being a modest source of cash in the fourth quarter of 2022, which is historically typical, versus working capital being a significant use of cash in the fourth quarter of 2021 in response to significant supply chain disruption in the marketplace. In 2022, our operating cash flow was $941.0, an increase of 22.2% from 2021, representing 86.6% of the period's net earnings versus 83.3% in 2021. While the conversion rates between the full years of 2022 and 2021 were comparable, we saw meaningful improvement in our conversion ratio in the second half of 2022 versus the first half of 2022. + +The dollar and percentage change in accounts receivable, net, inventories, and accounts payable as of December 31, 2022 when compared to December 31, 2021 were as follows: + +  + +  + +December 31 + +Twelve-month + +Dollar Change + +Twelve-month + +Percentage Change + +  + +  + +  + +2022 + +  + +2021 + +  + +  + +2022 + +  + +2022 + +  + +Accounts receivable, net + +  + +$ + +1,013.2 + +  + +900.2 + +  + +$ + +113.0 + +  + +12.6 + +% + +Inventories + +  + +  + +1,708.0 + +  + +1,523.6 + +  + +  + +184.4 + +  + +12.1 + +% + +Trade working capital + +  + +$ + +2,721.2 + +  + +2,423.8 + +  + +$ + +297.4 + +  + +12.3 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Accounts payable + +  + +$ + +255.0 + +  + +233.1 + +  + +$ + +21.9 + +  + +9.4 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Trade working capital, net + +  + +$ + +2,466.2 + +  + +2,190.7 + +  + +$ + +275.5 + +  + +12.6 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Net sales in last two months + +  + +$ + +1,091.9 + +  + +1,000.1 + +  + +$ + +91.7 + +  + +9.2 + +% + +Note - Amounts may not foot due to rounding difference. + +The increase in our accounts receivable balance at the end of 2022 is primarily attributable to two factors. First, our receivables increased as a result of improved business activity and resulting growth in our customers' sales. Second, we continue to experience a shift in our mix due to relatively stronger growth from national account customers, which tend to be larger and carry longer payment terms than our non-national account customers. + +The increase in our inventory balance at the end of 2022 is primarily attributable to three factors. First, our inventory increased to support improved business activity by our customers. Second, in the first half of 2022 we aggressively imported product to deepen our inventory as a means of addressing supply disruptions. These disruptions have largely dissipated which will allow us to shorten our product ordering cycle, though this process will be gradual as we also sustain high internal fulfillment rates. Third, inflation was responsible for approximately one-third of the overall increase. The impact of inflation continues to moderate as inflationary pressures ease. + +Our accounts payable balance increased due to higher product purchases to support the growth of our customers. + +During the fourth quarter of 2022, our investment in property and equipment, net of proceeds from sales, was $41.5, which is an increase of 0.7% from the fourth quarter of 2021. Higher spending for FMI equipment was largely offset by lower spending for information technology. In 2022, our investment in property and equipment, net of proceeds from sales, was $162.4, which is an increase of 9.6% from 2021. This increase was primarily due to higher spending on FMI equipment. Property spending was up only slightly, though this reflected higher spending at our hubs for safety and automation upgrades largely offset by lower spending on a new building in downtown Winona, which was completed at the end of 2021. Our final investment in property and equipment, net of proceeds from sales, was below our anticipated range of $170.0 to $190.0 due to certain equipment and project delays related to hub projects. In 2023, we expect our investment in property and equipment, net of proceeds of sales, to be $210.0 to $230.0. This increase reflects primarily: (1) higher property-related spending on upgrades to and investments in automation of certain hubs, the beginning of construction of a hub in Utah, and investment in materials to facilitate our branch conversion projects; (2) an increase in spending on information technology; and (3) investments in fleet equipment to support our network of heavy trucks. + +During the fourth quarter of 2022, we returned $270.1 to our shareholders in the form of dividends ($176.9) and purchases of our common stock ($93.2), compared to $161.1 in the fourth quarter of 2021, all in the form of dividends. In 2022, we returned $949.1 to our shareholders in the form of dividends ($711.3) and purchases of our common stock ($237.8), compared to $643.7 in 2021, all in the form of dividends. + +Total debt on our balance sheet was $555.0 at the end of 2022, or 14.9% of total capital (the sum of stockholders' equity and total debt). This compares to $390.0, or 11.4% of total capital, at the end of 2021. + +Additional Information + +The table below summarizes our absolute and FTE (based on 40 hours per week) employee headcount, our investments related to in-market locations (defined as the sum of the total number of branch locations and the total number of active Onsite locations), and weighted FMI devices at the end of the periods presented and the percentage change compared to the end of the prior periods. + +  + +  + +  + +  + +Change Since: + +  + +  + +Change Since: + +  + +Q4 + +2022 + +  + +Q3 + +2022 + +Q3 + +2022 + +  + +Q4 + +2021 + +Q4 + +2021 + +In-market locations - absolute employee headcount + +13,410 + +  + +13,243 + +1.3 + +% + +  + +12,464 + +7.6 + +% + +In-market locations - FTE employee headcount + +12,017 + +  + +11,897 + +1.0 + +% + +  + +11,337 + +6.0 + +% + +Total absolute employee headcount + +22,386 + +  + +22,025 + +1.6 + +% + +  + +20,507 + +9.2 + +% + +Total FTE employee headcount (1) + +19,854 + +  + +19,519 + +1.7 + +% + +  + +18,334 + +8.3 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +Number of branch locations + +1,683 + +  + +1,716 + +-1.9 + +% + +  + +1,793 + +-6.1 + +% + +Number of active Onsite locations + +1,623 + +  + +1,567 + +3.6 + +% + +  + +1,416 + +14.6 + +% + +Number of in-market locations + +3,306 + +  + +3,283 + +0.7 + +% + +  + +3,209 + +3.0 + +% + +Weighted FMI devices (MEU installed count) (2) + +102,151 + +  + +99,409 + +2.8 + +% + +  + +92,874 + +10.0 + +% + +(1) Due to a calculation error, organizational support personnel was overstated by 36 FTE in the fourth quarter of 2021, with total non-selling FTE and total FTE being overstated by the same amount. These figures have been corrected in this release. Adjusting for this error, total FTE in the first quarter, second quarter, and third quarter of 2022 would have each been up by an additional 0.2% for year-to-date growth. + +(2) This number excludes approximately 6,500 non-weighted devices that are part of our locker lease program. + +During the last twelve months, we increased our total FTE employee headcount by 1,520. This reflects an increase in our in-market and non-in-market selling FTE employee headcount of 1,063 to support growth in the marketplace and sales initiatives targeting customer acquisition. We had an increase in our distribution center FTE employee headcount of 231 to support increasing product throughput at our facilities and to expand our local inventory fulfillment terminals (LIFTs). We had an increase in our remaining FTE employee headcount of 226 that relates primarily to personnel investments in information technology, manufacturing, and operational support, such as purchasing and product development. + +We opened one branch in the fourth quarter of 2022 and closed 34, net of conversions. We activated 76 Onsite locations in the fourth quarter of 2022 and closed 20, net of conversions. In 2022, we opened 12 branches and closed 122, net of conversions. In 2022, we activated 306 Onsite locations and closed 99, net of conversions. In any period, the number of closings tends to reflect normal churn in our business, whether due to redefining or exiting customer relationships, the shutting or relocation of customer facilities that host our locations, or a customer decision, as well as our ongoing review of underperforming locations. Our in-market network forms the foundation of our business strategy, and we will continue to open or close locations as is deemed necessary to sustain and improve our network, support our growth drivers, and manage our operating expenses. + +CONFERENCE CALL TO DISCUSS QUARTERLY AND ANNUAL RESULTS + +As we previously disclosed, we will host a conference call today to review the quarterly and annual results, as well as current operations. This conference call will be broadcast live over the Internet at 9:00 a.m., central time. To access the webcast, please go to the Fastenal Company Investor Relations Website at https://investor.fastenal.com/events.cfm. + +ADDITIONAL MONTHLY AND QUARTERLY INFORMATION + +We publish on the 'Investor Relations' page of our website at www.fastenal.com both our monthly consolidated net sales information and the presentation for our quarterly conference call (which includes information, supplemental to that contained in our earnings announcement, regarding results for the quarter). We expect to publish the consolidated net sales information for each month, other than the third month of a quarter, at 6:00 a.m., central time, on the fourth business day of the following month. We expect to publish the consolidated net sales information for the third month of each quarter and the conference call presentation for each quarter at 6:00 a.m., central time, on the date our earnings announcement for such quarter is publicly released. + +FORWARD LOOKING STATEMENTS + +Certain statements contained in this document do not relate strictly to historical or current facts. As such, they are considered 'forward-looking statements' that provide current expectations or forecasts of future events. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by the use of terminology such as anticipate, believe, should, estimate, expect, intend, may, will, plan, goal, project, hope, trend, target, opportunity, and similar words or expressions, or by references to typical outcomes. Any statement that is not a historical fact, including estimates, projections, future trends, and the outcome of events that have not yet occurred, is a forward-looking statement. Our forward-looking statements generally relate to our expectations and beliefs regarding the business environment in which we operate, our projections of future performance, our perceived marketplace opportunities, our strategies, goals, mission, and vision, and our expectations about future capital expenditures, future tax rates, future inventory levels, pricing, future Onsite and weighted FMI device signings, investment in property and equipment, the impact of inflation on our cost of goods or operating costs, and future operating results and business activity. You should understand that forward-looking statements involve a variety of risks and uncertainties, known and unknown (including risks related to inflation, supply chain constraints, labor shortages, and the COVID-19 pandemic), and may be affected by inaccurate assumptions. Consequently, no forward-looking statement can be guaranteed and actual results may vary materially. Factors that could cause our actual results to differ from those discussed in the forward-looking statements include, but are not limited to, those detailed in our most recent annual and quarterly reports. Each forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any such statement to reflect events or circumstances arising after such date. FAST-E + +FASTENAL COMPANY AND SUBSIDIARIES + +Condensed Consolidated Balance Sheets + +(Amounts in millions except share information) + +  + +  + +December 31, +2022 + +  + +December 31, +2021 + +Assets + +  + +(Unaudited) + +  + +  + +Current assets: + +  + +  + +  + +  + +Cash and cash equivalents + +  + +$ + +230.1 + +  + +  + +236.2 + +  + +Trade accounts receivable, net of allowance for credit losses of $8.3 and $12.0, respectively + +  + +  + +1,013.2 + +  + +  + +900.2 + +  + +Inventories + +  + +  + +1,708.0 + +  + +  + +1,523.6 + +  + +Prepaid income taxes + +  + +  + +8.1 + +  + +  + +8.5 + +  + +Other current assets + +  + +  + +165.4 + +  + +  + +188.1 + +  + +Total current assets + +  + +  + +3,124.8 + +  + +  + +2,856.6 + +  + +  + +  + +  + +  + +  + +Property and equipment, net + +  + +  + +1,010.0 + +  + +  + +1,019.2 + +  + +Operating lease right-of-use assets + +  + +  + +243.0 + +  + +  + +242.3 + +  + +Other assets + +  + +  + +170.8 + +  + +  + +180.9 + +  + +  + +  + +  + +  + +  + +Total assets + +  + +$ + +4,548.6 + +  + +  + +4,299.0 + +  + +  + +  + +  + +  + +  + +Liabilities and Stockholders' Equity + +  + +  + +  + +  + +Current liabilities: + +  + +  + +  + +  + +Current portion of debt + +  + +$ + +201.8 + +  + +  + +60.0 + +  + +Accounts payable + +  + +  + +255.0 + +  + +  + +233.1 + +  + +Accrued expenses + +  + +  + +241.1 + +  + +  + +298.3 + +  + +Current portion of operating lease liabilities + +  + +  + +91.9 + +  + +  + +90.8 + +  + +Total current liabilities + +  + +  + +789.8 + +  + +  + +682.2 + +  + +  + +  + +  + +  + +  + +Long-term debt + +  + +  + +353.2 + +  + +  + +330.0 + +  + +Operating lease liabilities + +  + +  + +155.2 + +  + +  + +156.0 + +  + +Deferred income taxes + +  + +  + +83.7 + +  + +  + +88.6 + +  + +Other long-term liabilities + +  + +  + +3.5 + +  + +  + +— + +  + +  + +  + +  + +  + +  + +Stockholders' equity: + +  + +  + +  + +  + +Preferred stock: $0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding + +  + +  + +— + +  + +  + +— + +  + +Common stock: $0.01 par value, 800,000,000 shares authorized, 570,811,674 and 575,464,682 shares issued and outstanding, respectively + +  + +  + +5.7 + +  + +  + +5.8 + +  + +Additional paid-in capital + +  + +  + +3.6 + +  + +  + +96.2 + +  + +Retained earnings + +  + +  + +3,218.7 + +  + +  + +2,970.9 + +  + +Accumulated other comprehensive loss + +  + +  + +(64.8 + +) + +  + +(30.7 + +) + +Total stockholders' equity + +  + +  + +3,163.2 + +  + +  + +3,042.2 + +  + +Total liabilities and stockholders' equity + +  + +$ + +4,548.6 + +  + +  + +4,299.0 + +  + +FASTENAL COMPANY AND SUBSIDIARIES + +Condensed Consolidated Statements of Earnings + +(Amounts in millions except earnings per share) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Year Ended + +December 31, + +  + +Three Months Ended + +December 31, + +  + +  + +2022 + +  + +  + +2021 + +  + +  + +  + +2022 + +  + +  + +2021 + +  + +  + +(Unaudited) + +  + +  + +  + +(Unaudited) + +  + +(Unaudited) + +Net sales + +$ + +6,980.6 + +  + +  + +6,010.9 + +  + +  + +$ + +1,695.6 + +  + +  + +1,531.8 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Cost of sales + +  + +3,764.8 + +  + +  + +3,233.7 + +  + +  + +  + +927.2 + +  + +  + +818.9 + +  + +Gross profit + +  + +3,215.8 + +  + +  + +2,777.2 + +  + +  + +  + +768.4 + +  + +  + +712.9 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Operating and administrative expenses + +  + +1,762.2 + +  + +  + +1,559.8 + +  + +  + +  + +435.4 + +  + +  + +412.0 + +  + +Operating income + +  + +1,453.6 + +  + +  + +1,217.4 + +  + +  + +  + +333.0 + +  + +  + +300.9 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Interest income + +  + +0.7 + +  + +  + +0.1 + +  + +  + +  + +0.3 + +  + +  + +0.0 + +  + +Interest expense + +  + +(14.3 + +) + +  + +(9.7 + +) + +  + +  + +(5.1 + +) + +  + +(2.4 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +Earnings before income taxes + +  + +1,440.0 + +  + +  + +1,207.8 + +  + +  + +  + +328.2 + +  + +  + +298.5 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Income tax expense + +  + +353.1 + +  + +  + +282.8 + +  + +  + +  + +82.6 + +  + +  + +67.3 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Net earnings + +$ + +1,086.9 + +  + +  + +925.0 + +  + +  + +$ + +245.6 + +  + +  + +231.2 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Basic net earnings per share + +$ + +1.89 + +  + +  + +1.61 + +  + +  + +$ + +0.43 + +  + +  + +0.40 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Diluted net earnings per share + +$ + +1.89 + +  + +  + +1.60 + +  + +  + +$ + +0.43 + +  + +  + +0.40 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Basic weighted average shares outstanding + +  + +573.8 + +  + +  + +574.8 + +  + +  + +  + +571.1 + +  + +  + +575.3 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Diluted weighted average shares outstanding + +  + +575.6 + +  + +  + +577.1 + +  + +  + +  + +572.8 + +  + +  + +577.7 + +  + +FASTENAL COMPANY AND SUBSIDIARIES + +Condensed Consolidated Statements of Cash Flows + +(Amounts in millions) + +  + +Year Ended + +December 31, + +  + +Three Months Ended + +December 31, + +  + +  + +2022 + +  + +  + +2021 + +  + +  + +  + +2022 + +  + +  + +2021 + +  + +  + +(Unaudited) + +  + +  + +  + +(Unaudited) + +  + +(Unaudited) + +Cash flows from operating activities: + +  + +  + +  + +  + +  + +  + +  + +Net earnings + +$ + +1,086.9 + +  + +  + +925.0 + +  + +  + +$ + +245.6 + +  + +  + +231.2 + +  + +Adjustments to reconcile net earnings to net cash provided by operating activities: + +  + +  + +  + +  + +  + +  + +  + +Depreciation of property and equipment + +  + +165.9 + +  + +  + +159.9 + +  + +  + +  + +42.1 + +  + +  + +40.9 + +  + +Loss (gain) on sale of property and equipment + +  + +1.1 + +  + +  + +(1.1 + +) + +  + +  + +(0.1 + +) + +  + +— + +  + +Bad debt expense + +  + +(1.8 + +) + +  + +2.5 + +  + +  + +  + +(0.9 + +) + +  + +1.7 + +  + +Deferred income taxes + +  + +(4.9 + +) + +  + +(13.7 + +) + +  + +  + +(9.2 + +) + +  + +(16.0 + +) + +Stock-based compensation + +  + +7.2 + +  + +  + +5.6 + +  + +  + +  + +2.8 + +  + +  + +1.3 + +  + +Amortization of intangible assets + +  + +10.7 + +  + +  + +10.8 + +  + +  + +  + +2.6 + +  + +  + +2.7 + +  + +Changes in operating assets and liabilities: + +  + +  + +  + +  + +  + +  + +  + +Trade accounts receivable + +  + +(119.8 + +) + +  + +(135.2 + +) + +  + +  + +103.1 + +  + +  + +47.0 + +  + +Inventories + +  + +(198.0 + +) + +  + +(189.5 + +) + +  + +  + +(21.1 + +) + +  + +(123.0 + +) + +Other current assets + +  + +22.7 + +  + +  + +(47.8 + +) + +  + +  + +6.8 + +  + +  + +(25.5 + +) + +Accounts payable + +  + +21.9 + +  + +  + +26.1 + +  + +  + +  + +(22.2 + +) + +  + +(23.8 + +) + +Accrued expenses + +  + +(57.2 + +) + +  + +26.2 + +  + +  + +  + +(41.3 + +) + +  + +20.3 + +  + +Income taxes + +  + +0.4 + +  + +  + +(1.8 + +) + +  + +  + +(4.9 + +) + +  + +(1.8 + +) + +Other + +  + +5.9 + +  + +  + +3.1 + +  + +  + +  + +(1.4 + +) + +  + +1.4 + +  + +Net cash provided by operating activities + +  + +941.0 + +  + +  + +770.1 + +  + +  + +  + +301.9 + +  + +  + +156.4 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Cash flows from investing activities: + +  + +  + +  + +  + +  + +  + +  + +Purchases of property and equipment + +  + +(173.8 + +) + +  + +(156.6 + +) + +  + +  + +(42.8 + +) + +  + +(41.9 + +) + +Proceeds from sale of property and equipment + +  + +11.4 + +  + +  + +8.4 + +  + +  + +  + +1.3 + +  + +  + +0.7 + +  + +Other + +  + +(0.6 + +) + +  + +(0.3 + +) + +  + +  + +0.1 + +  + +  + +(0.3 + +) + +Net cash used in investing activities + +  + +(163.0 + +) + +  + +(148.5 + +) + +  + +  + +(41.4 + +) + +  + +(41.5 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +Cash flows from financing activities: + +  + +  + +  + +  + +  + +  + +  + +Proceeds from debt obligations + +  + +1,795.0 + +  + +  + +525.0 + +  + +  + +  + +405.0 + +  + +  + +225.0 + +  + +Payments against debt obligations + +  + +(1,630.0 + +) + +  + +(540.0 + +) + +  + +  + +(405.0 + +) + +  + +(200.0 + +) + +Proceeds from exercise of stock options + +  + +9.2 + +  + +  + +31.6 + +  + +  + +  + +1.4 + +  + +  + +7.2 + +  + +Purchases of common stock + +  + +(237.8 + +) + +  + +— + +  + +  + +  + +(93.2 + +) + +  + +— + +  + +Cash dividends paid + +  + +(711.3 + +) + +  + +(643.7 + +) + +  + +  + +(176.9 + +) + +  + +(161.1 + +) + +Net cash used in financing activities + +  + +(774.9 + +) + +  + +(627.1 + +) + +  + +  + +(268.7 + +) + +  + +(128.9 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +Effect of exchange rate changes on cash and cash equivalents + +  + +(9.2 + +) + +  + +(4.0 + +) + +  + +  + +6.8 + +  + +  + +(0.3 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +Net decrease in cash and cash equivalents + +  + +(6.1 + +) + +  + +(9.5 + +) + +  + +  + +(1.4 + +) + +  + +(14.3 + +) + +  + +  + +  + +  + +  + +  + +  + +  + +Cash and cash equivalents at beginning of period + +  + +236.2 + +  + +  + +245.7 + +  + +  + +  + +231.5 + +  + +  + +250.5 + +  + +Cash and cash equivalents at end of period + +$ + +230.1 + +  + +  + +236.2 + +  + +  + +$ + +230.1 + +  + +  + +236.2 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Supplemental information: + +  + +  + +  + +  + +  + +  + +  + +Cash paid for interest + +$ + +13.3 + +  + +  + +9.9 + +  + +  + +$ + +4.1 + +  + +  + +2.3 + +  + +Net cash paid for income taxes + +$ + +354.1 + +  + +  + +294.0 + +  + +  + +$ + +96.8 + +  + +  + +83.3 + +  + +  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230118006006/en/ \ No newline at end of file diff --git a/news/FAST/2023.01.19/Fastenal boosts Q4, FY 2022 results on stronger industrial demand.txt b/news/FAST/2023.01.19/Fastenal boosts Q4, FY 2022 results on stronger industrial demand.txt new file mode 100644 index 0000000000000000000000000000000000000000..ef9e3f1adaeac976befeefe23fa7901c16fb781c --- /dev/null +++ b/news/FAST/2023.01.19/Fastenal boosts Q4, FY 2022 results on stronger industrial demand.txt @@ -0,0 +1 @@ +Fastenal Co., a provider in the wholesale distribution of industrial and construction supplies and industrial vending services, lifted its Q4 and FY 2022 results, boosted by higher unit sales from growth in underlying demand for industrial goods and commodities, according to an earnings report.Highlights include:Shares traded today at $46.28 against a 52-week range of $43.73-$60.74.The $1.69 billion in quarterly revenue beat analyst expectations by $20 million, while the GAAP EPS of 43 cents beat expectations by one cent, according to Seeking Alpha.Copyright © 2023 Networld Media. All rights reserved., source Industry News \ No newline at end of file diff --git a/news/FAST/2023.01.19/Marketmind: No safety net?.txt b/news/FAST/2023.01.19/Marketmind: No safety net?.txt new file mode 100644 index 0000000000000000000000000000000000000000..a9fc79749379ac83c331b119649590dc434090e6 --- /dev/null +++ b/news/FAST/2023.01.19/Marketmind: No safety net?.txt @@ -0,0 +1 @@ +World markets have been spooked by the prospect the U.S. may be heading for recession after all but the Federal Reserve may not ride to the rescue - at least not as fast as many assume.Further signs of sharp disinflation and a screed of dire economic readouts on U.S. retail and industrial activity last month clearly unnerved investors over the past 24 hours - sinking stocks, lifting bonds and dragging on the dollar.U.S. retail sales fell by the most in a year in December, the second straight monthly decrease, pulled down by declines in purchases of motor vehicles and a range of other goods. Manufacturing fell 1.3% and even though a drop in producer prices may be a relief for inflation worriers, it may also spell trouble for corporate margins.The jitters fanned out to other parts of the world on Thursday. Japan said its export growth slowed sharply in December as China-bound shipments fell for the first time in seven months, stoking fears for the global economy.How much December was distorted by an extreme U.S. cold weather snap or the final throes of China's draconian 'zero COVID' lockdowns is unclear.But despite the warnings, Fed policymakers on Wednesday signaled they will push on with more interest rate hikes, with several supporting a top policy rate of at least 5%."I just think we need to keep going," Cleveland Fed President Loretta Mester said.And many forecasters are now wary the Fed will err on the side of tighter policy to ensure inflation is slayed."We continue to forecast a terminal federal funds range of 4.75-5.00% but believe the risks could be skewed a bit higher," HSBC's U.S. economist Ryan Wang said on Thursday.Markets wobbled on the prospect on Wednesday, with the S&P500 staging its biggest decline of the year so far. U.S. stock futures remained in the red on Thursday and bourses around the world were lower too.Despite Fed hawkishness about 5%-plus rates, futures markets nudged the likely Fed 'terminal rate' down further to 4.86% and continue to price half a point of rate cuts in the second half of 2023. At 3.32%, 10-year U.S. Treasury yields fell to their lowest since September. The dollar hit its lowest since June.The other big worry for investors on Thursday - and part of the reason for this week's market wobble - is the looming political showdown over the U.S. debt ceiling.The United States will likely hit its mandated $31.4 trillion borrowing limit on Thursday, forcing the Treasury to launch extraordinary cash management measures that can likely prevent a debt default until early June.Apart from raising concerns about possible default on U.S. short-term debt, the political standoff could complicate investors' cash management in money market instruments - prompting search for other havens including long-term Treasuries or even overseas money market funds.Netflix tops the latest earnings diary meantime.Key developments that may provide direction to U.S. markets later on Thursday: * U.S. Dec housing starts/permits, weekly jobless claims, Philadelphia Federal Reserve's Jan business survey. U.S. Treasury auctions 10-year inflation-protected notes.* Federal Reserve Vice Chair Lael Brainard, New York Fed President John Williams, Boston Fed chief Susan Collins all speaking; European Central Bank President Christine Lagarde, ECB board member Isabel Schnabel and European Commissioner Mairead McGuinness all speak * U.S. corporate earnings: Netflix, Procter & Gamble, Northern Trust, M&T Bank, PPG Industries, Fifth Third Bancorp, SVB Financial, Truist Financial, KeyCorp, Comerica, Fastenal (By Mike Dolan, editing by XXXX mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/FAST/2023.02.06/Fastenal : January 2023 Sales Information.txt b/news/FAST/2023.02.06/Fastenal : January 2023 Sales Information.txt new file mode 100644 index 0000000000000000000000000000000000000000..87fc757016152d3cbaf210a98c7e5b9d6ed90bda --- /dev/null +++ b/news/FAST/2023.02.06/Fastenal : January 2023 Sales Information.txt @@ -0,0 +1,1017 @@ + + + + + JANUARY 2023 INFORMATION WEB RELEASE + + + Release date: 2/6/23 + + + + + + Fastenal Company and Subsidiaries (Fastenal) + + + + + + + + + + + + + + + (Dollar amounts in thousands) + + + + + + + + + + + + + + + + + + + 2023 + + + + + 2022 + + + + + Change + + + + + + + Net sales + + + + + $ + + + + + 601,239 + + + + + 540,494 + + + + + 11.2% + + + + + + + Business days + + + + + + + 21 + + + + + 21 + + + + + 0.0% + + + + + + + Daily sales + + + + + $ + + + + + 28,630 + + + + + 25,738 + + + + + 11.2% + + + + + + + Impact of currency fluctuations + + + + + + + (0.6%) + + + + + (0.1%) + + + + + + + + + Impact of weather (est.) + + + + + + + 0.0% + + + + + (0.5%) to (0.6%) + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Historical* + + + + + + + Daily sales in October + + + + + $ + + + + + 28,750 + + + + + 25,319 + + + + + The historical figure represents the average + + + + + + + Change in daily sales since October + + + + + + + (0.4%) + + + + + 1.7% + + + + +0.2% from 2017 to 2019, 2021, and 2022. + + + + + + + Daily sales growth by geography + + + + + + + + + + + + + + + United States + + + + + + + 11.2% + + + + + 14.9% + + + + + Calculated using US days and US dollars. + + + + + + + + + + + + + Canada/Mexico + + + + + + + 17.3% + + + + + 14.6% + + + + + + + + + Rest of World + + + + + + + (8.5%) + + + + + 15.8% + + + + + + + + + Total Company + + + + + + + 11.2% + + + + + 14.9% + + + + + + + + + + + + + + + + + + + + + Daily sales growth by end market + + + + + + + + + + + + + + + Manufacturing + + + + + + + 17.0% + + + + + 20.8% + + + + + + + + + Non-residential construction + + + + + + + (1.7%) + + + + + 12.9% + + + + + + + + + + + + + + + + + + + + + Daily sales growth by product line + + + + + + + + + + + + + + + Fasteners + + + + + + + 11.6% + + + + + 20.9% + + + + + + + + + Safety + + + + + + + 6.2% + + + + + 12.9% + + + + + + + + + Other + + + + + + + 14.1% + + + + + 11.0% + + + + + + + + + + + + + + + + + + + + Growth metrics by customer/channel type + + + + + + + + + Daily sales growth - national accounts + + + + + 16.0% + + + + + 19.0% + + + + + + + Daily sales growth - non-national accounts + + + + + 6.0% + + + + + 10.0% + + + + + + + % of Top 100 national accounts growing + + + + + 78.0% + + + + + 85.0% + + + + + + + % of public branches growing + + + + + 63.5% + + + + + 73.4% + + + + + + + + Daily sales growth rates are rounded to whole percentage rates. + + + + + + + + + Employee headcount at month end + + + + + Jan-23 + + + + + Jan-22 + + + + + Change + + + + + + + Dec-22 + + + + + Change + + + + + + + In-market locations (branches & Onsites) - FTE + + + + + 12,178 + + + + + 11,432 + + + + + 6.5% + + + + + 12,017 + + + + + 1.3% + + + + + + + Non-in-market selling - FTE + + + + + 2,482 + + + + + 2,171 + + + + + 14.3% + + + + + + + 2,459 + + + + + 0.9% + + + + + + + Total selling personnel - FTE + + + + + 14,660 + + + + + 13,603 + + + + + 7.8% + + + + + + + 14,476 + + + + + 1.3% + + + + + + + Distribution/Transportation personnel - FTE + + + + + 2,963 + + + + + 2,757 + + + + + 7.5% + + + + + 2,971 + + + + + (0.3%) + + + + + + + Manufacturing personnel - FTE + + + + + 697 + + + + + 633 + + + + + 10.1% + + + + + 696 + + + + + 0.1% + + + + + + + Organizational support personnel - FTE** + + + + + 1,808 + + + + + 1,609 + + + + + 12.4% + + + + + + + 1,711 + + + + + 5.7% + + + + + + + Total non-selling personnel - FTE + + + + + 5,468 + + + + + 4,999 + + + + + 9.4% + + + + + + + 5,378 + + + + + 1.7% + + + + + + + Total personnel - FTE + + + + + 20,128 + + + + + 18,602 + + + + + 8.2% + + + + + 19,854 + + + + + 1.4% + + + + + + + + + + + + + + + + + + + + + + + Total personnel - absolute + + + + + 22,566 + + + + + 20,728 + + + + + 8.9% + + + + + 22,386 + + + + + 0.8% + + + + + + +Historical averages exclude the impact of the March 2017 acquisition of Mansco. They also exclude 2020, a year during which many months were significantly impacted by COVID-19 surge activity and so would not be considered representative of normal activity. + + +Organizational support personnel consists of: (1) Sales & Growth Driver Support personnel (35%-40% of category), which includes sourcing, purchasing, supply chain, product development, etc.; (2) Information Technology personnel (35%-40% of category); (3) Administrative Support personnel (25%-30% of category), which includes human resources, Fastenal School of Business, accounting and finance, senior management, etc. + + + + Definitions in release: + + + Net sales - Net sales for the period indicated. + + + Daily sales - Net sales divided by the number of business days in the US. + + + FTE - Full-time equivalent headcount. + + +Next monthly sales release date: Monday, March 6, 2023 at 6:00 AM(central time) + + +Next earnings release date: Thursday, April 13, 2023 at 6:00 AM(central time) + + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fastenal Company published this content on 06 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 February 2023 11:59:08 UTC. + + diff --git a/news/FAST/2023.02.23/Fastenal: A remarkably well managed company.txt b/news/FAST/2023.02.23/Fastenal: A remarkably well managed company.txt new file mode 100644 index 0000000000000000000000000000000000000000..20357352ae50d12b476d5dbc954126077436e88a --- /dev/null +++ b/news/FAST/2023.02.23/Fastenal: A remarkably well managed company.txt @@ -0,0 +1,16 @@ + +It is also famous for its peculiar corporate culture, inherited from its mythical founder, Bob Kierlin, once called "the cheapest man in America" in the press. For Kierlin, every penny counts, and it is naturally this culture of frugality that explains the amazing journey of a company with such a seemingly banal activity. +This culture of sound economy is obvious when you look at the cash flow statements, and notice the anecdotal, not to say non-existent, remuneration in stock options, a singular contrast with contemporary practices! +A major evolution lies in the number of branches: it has decreased significantly (2,500 ten years ago vs. 1,500 today), but this is the result of a deliberate strategic pivot, as management has developed a clever concept of "on-site" distributors (like snack and beverage distributors, only bigger of course!), i.e. directly on the production sites of its clients (three-quarters of them manufacturing companies). There are now nearly 2000 "on-site" distributors, compared to zero eight years ago when the concept was launched. +In short, Fastenal's unusual operational and financial track record is well known, but what about the last ten years? Between 2012 and 2012, the company had experienced meteoric growth (sales multiplied by three and net income multiplied by six over the period). What about 2012-2022? +The dynamics remain excellent, with sales rising from $3.1B to $7B and profits following a perfectly comparable trajectory, expanding from $421M to $1.1B. We could be a little cautious and point out that the working capital requirement consumes nearly $300M per year, due to restocking, and that the profit distributable to shareholders ("free cash flow") is significantly lower than the net result ($800M last year). + +This free cash flow is used by management with good sense and skill: over the last ten years, three quarters of distributable profits have been returned to shareholders in the form of dividends; the remaining quarter has been used for remarkably "timid" share buybacks, once again in stark contrast to current practices! There are only a few missing acquisitions and therefore no change in scope. +This is a remarkably well managed company, with a healthy culture, which has been able to reinvent itself and pivot in advance of difficulties, thus maintaining its remarkable financial performance over time. This "good father" management style is also apparent when we look at the balance sheet, since there is no net debt and current assets alone cover more than three times all liabilities. This does not prevent Fastenal from delivering a return on equity of 30%! +There have been some share purchases by insiders in recent months at price levels comparable to those of the moment. At $52 per share, Fastenal's market capitalization is $3B, which is a PE of x27, perfectly in line with its historical average. Each time the value went down to x20 the profits, it was a buy signal (see historical PE graph below) + + +Fastenal has not yet attacked the international market: there is no doubt that this is the future growth relay... This will not come without difficulties, of course, but if the history of the company proves anything, it is that management manages its strategic pivots well. +The usual risks that have been pointed out have so far never rubbed off on the business. The one that is often mentioned is Amazon, but it has actually never become a competitor due to lack of inventory and inability to match Fastenal's on-site distribution. + +  diff --git a/news/FISV/2023.01.09/Analyst recommendations: BT Group, Hilton WorldWide, J.B. Hunt, ...txt b/news/FISV/2023.01.09/Analyst recommendations: BT Group, Hilton WorldWide, J.B. Hunt, ...txt new file mode 100644 index 0000000000000000000000000000000000000000..728aab9036e55c30398a9584548ffa0789d1716f --- /dev/null +++ b/news/FISV/2023.01.09/Analyst recommendations: BT Group, Hilton WorldWide, J.B. Hunt, ...txt @@ -0,0 +1,22 @@ + +  + +BT Group: Citigroup upgrades from neutral to buy targeting GBp 160. +Chubb: Jefferies downgrades to hold from buy. PT up 7.5% to $246. +Consolidated Edison: Mizuho Securities downgrades to neutral from buy. PT inches up 0.2% to $98. +Fiserv: Wells Fargo Securities downgrades to underweight from equal-weight. PT down 1.2% to $101. +Hilton Worldwide: Jefferies downgrades to hold from buy. PT up 2.9% to $134. +J.B. Hunt: Susquehanna Financial downgrades to neutral from positive. PT down 4.6% to $168. +Knight-Swift: Susquehanna Financial downgrades to neutral from positive. PT up 8.2% to $60. +Marriott International: Jefferies downgrades to hold from buy. PT up 8.2% to $166. +Marsh & McLennan: Jefferies downgrades to hold from buy. PT up 4.1% to $178. +MetLife: Goldman Sachs downgrades to neutral from buy. PT up 6% to $78. +Mondi: Jefferies remains Buy with a price target reduced from GBp 1750 to GBp 1730. +Prudential Financial: Goldman Sachs downgrades to sell from neutral. PT down to 5% to $96. +Rathbones: Jefferies upgrades from Hold to Underperform with a target of GBp 1720. +Saia: Susquehanna Financial downgrades to neutral from positive. PT down 1.2% to $220. +Stryker: RBC Capital Markets upgrades to outperform from sector perform. PT up 11% to $284. +Werner Enterprises: Susquehanna Financial downgrades to neutral from positive. PT up 4.2% to $45. +YouGov: HSBC starts tracking to buy, targeting GBp 1225. +Zimmer Biomet: RBC Capital Markets upgrades to outperform from sector perform. PT up 12% to $141. + diff --git a/news/FISV/2023.01.09/The return of optimism.txt b/news/FISV/2023.01.09/The return of optimism.txt new file mode 100644 index 0000000000000000000000000000000000000000..26a1cf8c735d61dff86ee34b5c584ebea63e7cb7 --- /dev/null +++ b/news/FISV/2023.01.09/The return of optimism.txt @@ -0,0 +1,48 @@ + +Investors received clues that tend to confirm their favorite scenario, in which the US central bank is taking control of inflation by capping its key rates at 5% in June 2023, without totally destroying economic growth. The scenario also includes the end of the Fed's monetary tightening cycle, which means that economic conditions would be more predictable, and from that point on, the cost of money would stabilize and possibly go down. + +For the Fed to turn dovish, two main ingredients must be present: slowing inflation and economic activity in the U.S. that shows enough signs of weakness to help keep inflation from spiking again.  The first ingredient seems to be present. As for economic activity, US indicators in industry and services are under pressure, but household consumption and the labor market are still robust. +But on Friday, three indicators came in to support the second point mentioned above, in particular the December employment report. Well, at first glance, with job creation up and unemployment down from 3.7% to 3.5%, it didn't look like a win. Here's where it gets subtle. With a little digging, economists have found evidence that an inflection is underway. Companies are shedding temp workers as they sense the tide is turning and wage growth is slowing. The job report was followed by a plummeting services activity index (ISM services), and a drop in factory orders (even though this indicator is considered secondary by Wall Street). +I may have lost you along the way, but the important thing to remember is that the market thinks that the Fed will not have to go much further in its rate hikes to bend inflation and return to a more flexible policy. That's also what the bond market is saying, as the yield on 10-year debt fell to 3.56%. And the currency market, which saw the dollar take a hit. This narrative helped the S&P500, the Dow Jones and Nasdaq gain more than 2% Friday night. To reinforce it, there will be Thursday's US inflation figures for December. But beware, Fed boss Jerome Powell will eventually have the opportunity to refocus the debate in a speech scheduled for Tuesday. It is known that the central bank has recently sought to calm investors' appetite for risky assets. Powell's message will carry weight.  +In the end, the first trading week of 2023 resulted in gains of 1.45% for the S&P500 and 4.6% for its European counterpart, the Stoxx Europe 600. +The first corporate results for Q1 are already on the horizon with Sika (Wednesday) and Tesco (Thursday) in Europe. In the United States, it is the session of Friday, January 13 that will kick off earnings season, with JPMorgan Chase, UnitedHealth, Bank of America, Wells Fargo, BlackRock, Citigroup and Delta Air Lines. +  +Economic highlights of the day: +No big indicator in sight today. +The dollar is down 0.6% to EUR 0.9320 and 0.5% to GBP 0.8215. The ounce of gold is up to 1878 dollars. Oil is firm, with North Sea Brent at USD 80.62 a barrel and US WTI light crude at USD 76.08. The yield on 10-year US debt fell to 3.56%. Bitcoin is back up around USD 17,200. +  +In corporate news: +* Goldman Sachs will begin cutting thousands of jobs worldwide on Wednesday, two sources familiar with the group's plans said, as it prepares for a challenging economic environment. +* Alibaba gained 5 percent in premarket trading after the Chinese online retail giant announced that its founder, Jack Ma, would give up control of financial subsidiary Ant Group. +* Tesla. The carmaker announced Monday an extension of delivery times for some of its Y models in China, a sign of increased demand after the recent price cut. The stock was up 3.3% in pre-market trading. +* Chevron and Exxon Mobil were up about 1.5% in premarket trading as oil prices rose following the reopening of China's borders on Sunday. +* Macy's expects to report lower-than-expected fourth-quarter sales and limited spending in 2023 due to inflation, the department store chain said Friday, with its shares down 4% in premarket trading. +* Salesforce is looking to save $3 billion to $5 billion, CEO Marc Benioff told employees, Fortune magazine reported Friday, citing an audio recording of the meeting. +* Moderna - COVID-19 vaccine sales were $18.4 billion in 2022, in line with the group's forecast. +* CVS expects to post annual sales above its expectations of $309 billion to $314 billion and adjusted earnings per share at the high end of its guidance. +* Abercrombie & Fitch raised its sales guidance for the last three months of 2022, sending the stock up 3% in pre-market trading. +* Lululemon Athletica lost 10% in premarket trading after announcing it expects gross margins to decline in the fourth quarter, hurt by inflation. +* Pfizer - China will not include Pfizer's COVID-19 antiviral Paxlovid on its list of treatments covered by medical insurance plans because of its high price, China's health care safety administration announced Sunday. +* Biopharmaceutical company Cincor is to be bought by AstraZeneca for up to $1.8 billion, the Anglo-Swedish company announced Monday. +  +Analyst recommendations: + +BT Group: Citigroup upgrades from neutral to buy targeting GBp 160. +Chubb: Jefferies downgrades to hold from buy. PT up 7.5% to $246. +Consolidated Edison: Mizuho Securities downgrades to neutral from buy. PT inches up 0.2% to $98. +Fiserv: Wells Fargo Securities downgrades to underweight from equal-weight. PT down 1.2% to $101. +Hilton Worldwide: Jefferies downgrades to hold from buy. PT up 2.9% to $134. +J.B. Hunt: Susquehanna Financial downgrades to neutral from positive. PT down 4.6% to $168. +Knight-Swift: Susquehanna Financial downgrades to neutral from positive. PT up 8.2% to $60. +Marriott International: Jefferies downgrades to hold from buy. PT up 8.2% to $166. +Marsh & McLennan: Jefferies downgrades to hold from buy. PT up 4.1% to $178. +MetLife: Goldman Sachs downgrades to neutral from buy. PT up 6% to $78. +Mondi: Jefferies remains Buy with a price target reduced from GBp 1750 to GBp 1730. +Prudential Financial: Goldman Sachs downgrades to sell from neutral. PT down to 5% to $96. +Rathbones: Jefferies upgrades from Hold to Underperform with a target of GBp 1720. +Saia: Susquehanna Financial downgrades to neutral from positive. PT down 1.2% to $220. +Stryker: RBC Capital Markets upgrades to outperform from sector perform. PT up 11% to $284. +Werner Enterprises: Susquehanna Financial downgrades to neutral from positive. PT up 4.2% to $45. +YouGov: HSBC starts tracking to buy, targeting GBp 1225. +Zimmer Biomet: RBC Capital Markets upgrades to outperform from sector perform. PT up 12% to $141. + diff --git a/news/FISV/2023.01.18/Fiserv to Release Fourth Quarter and Full Year Earnings Results on February 7, 2023.txt b/news/FISV/2023.01.18/Fiserv to Release Fourth Quarter and Full Year Earnings Results on February 7, 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..624ba46656c5addc28f419846e0c5108bd5aee2d --- /dev/null +++ b/news/FISV/2023.01.18/Fiserv to Release Fourth Quarter and Full Year Earnings Results on February 7, 2023.txt @@ -0,0 +1,11 @@ + +Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, will announce its fourth quarter and full year financial results before the market opens on Tuesday, February 7, 2023. + +The company will discuss the results in a live webcast at 7 a.m. CT on February 7. The webcast, along with supplemental financial information, can be accessed on the investor relations section of the Fiserv website at investors.fiserv.com. A replay will be available approximately one hour after the conclusion of the live webcast. + +About Fiserv + +Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been recognized as one of FORTUNE World's Most Admired Companies® for 11 of the past 14 years and named among the World’s Most Innovative Companies by Fast Company for two consecutive years. Visit fiserv.com and follow on social media for more information and the latest company news. + +FISV-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005878/en/ \ No newline at end of file diff --git a/news/FISV/2023.01.19/Desjardins, Canada's Largest Financial Cooperative, Selects Fiserv to Enhance Credit Ca...txt b/news/FISV/2023.01.19/Desjardins, Canada's Largest Financial Cooperative, Selects Fiserv to Enhance Credit Ca...txt new file mode 100644 index 0000000000000000000000000000000000000000..2f09347b2a0a7ae4bf1f2ccb1afee1b59f05968e --- /dev/null +++ b/news/FISV/2023.01.19/Desjardins, Canada's Largest Financial Cooperative, Selects Fiserv to Enhance Credit Ca...txt @@ -0,0 +1,25 @@ + +Desjardins Group, the largest financial cooperative in North America, will transition its credit card processing to Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions. By streamlining management of consumer card, commercial card, prepaid card, and business lines of credit portfolios onto a single unified platform, Fiserv is enabling Desjardins to create synergies across products and power innovative new offerings for its consumer members and business clients. + +Through its market-leading card issuing platform, OptisSM, which processes more than one billion credit accounts across North America, Fiserv will support Desjardins’ rapidly growing credit card portfolio, which now has close to four million accounts. This will allow Desjardins to expand existing digital and mobile-first capabilities to create a cohesive, real-time experience that includes push provisioning, self-servicing, and robust digital solutions for Desjardins members and clients. + +“It is no longer enough just to deliver a card that works well and allows customers to pay,” said Zil Bareisis, Head of Retail Banking at Celent, the leading research and advisory firm. “Customers expect to have real-time information at their fingertips, along with card controls that allow them to limit payments or freeze a card, and alerts should anything go wrong. Bank staff also want modern user interfaces and unified experiences. Modern platforms like Optis offered by Fiserv enable financial institutions to design great experiences for everyone.” + +Fiserv will also provide end-to-end credit processing functions for Desjardins, including core card processing, fraud detection, risk management and ancillary services. “As Desjardins modernizes for the future we’re enhancing our card platform to continue to deliver a best-in-class experience for our members, clients, and employees,” said Yann Jodoin, VP Payment & Retail Chief Product Officer at Desjardins. “Fiserv investments in digital innovation are allowing us to deliver new digital capabilities.” + +Desjardins will be the first large-scale issuer deployment for Fiserv in Canada. + +“We look forward to working with Desjardins as our flagship card issuing client in Canada, and bringing our leading, modern capabilities which will enable Desjardins to best serve their loyal members and clients,” said Andrew Gelb, Head of Issuer Solutions at Fiserv. + +In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com. + +About Desjardins Group + +Desjardins Group is the largest cooperative financial group in North America and the fifth largest cooperative financial group in the world, with assets of $404 billion. It was named one of Canada's Top 100 Employers in 2022 by Mediacorp. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. Ranked among the world's strongest banks according to The Banker magazine, Desjardins has one of the highest capital ratios and credit ratings in the industry. For more information on Desjardins Group and the services it offers, visit our website: www.desjardins.com/ca. + +About Fiserv + +Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been recognized as one of FORTUNE World’s Most Admired Companies® for 11 of the past 14 years and named among the World’s Most Innovative Companies by Fast Company for two consecutive years. Visit fiserv.com and follow on social media for more information and the latest company news. + +FISV-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005108/en/ \ No newline at end of file diff --git a/news/FISV/2023.01.23/BNY Mellon and Fiserv Expand Real-Time FX Rate Quotes Capabilities for Payments from U....txt b/news/FISV/2023.01.23/BNY Mellon and Fiserv Expand Real-Time FX Rate Quotes Capabilities for Payments from U....txt new file mode 100644 index 0000000000000000000000000000000000000000..071d471b36ccc6425390e71ca85e47a4b0a4eb4b --- /dev/null +++ b/news/FISV/2023.01.23/BNY Mellon and Fiserv Expand Real-Time FX Rate Quotes Capabilities for Payments from U....txt @@ -0,0 +1,19 @@ + + +NEW YORK, Jan. 23, 2023 /PRNewswire/ -- BNY Mellon and Fiserv, a leading global provider of payments and financial services technology, have joined forces to deliver additional capabilities for real-time foreign exchange (FX) rate quotes for payments from U.S. financial institutions. +Using innovative application programming interface (API) connectivity, financial institutions leveraging Payments Exchange: Foreign Exchange Services from Fiserv can now seamlessly access BNY Mellon's real-time FX rate quotes in over 120 currencies without the need for additional integration. This new offering provides U.S. financial institutions the ability to execute currency conversions for cross-border payments with upfront rate visibility. +"One of the main challenges for U.S. financial institutions looking to access real-time FX rate quotes for payments is that the costs associated with integrating to a banking partner can be prohibitive," said Isabel Schmidt, Global Co-head of Payments at BNY Mellon. "We are addressing this head on through new integration which enables institutions to provide clients with streamlined, real-time FX rate quotes to facilitate cross border payments." +BNY Mellon's real-time FX rate quotes capabilities are designed to be configurable, providing a tailored offering for cross border payments. Along with transaction tracking and reporting tools, financial institutions can access detailed payment status to enhance the support experience, as well as provide more transparency to their own clients using BNY Mellon's online tools. +Payments Exchange: Foreign Exchange Services from Fiserv is a flexible, web-based solution for completing end-to-end international wire transfers, which helps minimize the time and effort required to manage global payments. The solution assists in eliminating manual processes with the added advantage of one-step wire entry for foreign exchange. +"Financial institutions need cost-efficient solutions to meet the increasing demand for payments in foreign currency," said Laura Clary, Vice President of Enterprise Payments Solutions Product Management at Fiserv. "With Payments Exchange: Foreign Exchange Services, banks and credit unions can access multiple options to facilitate foreign exchange payments for their clients without needing to integrate with multiple third-party providers platforms or systems."  +About BNY MellonBNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of Dec. 31, 2022, BNY Mellon had $44.3 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news. +About FiservFiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been recognized as one of FORTUNE World's Most Admired Companies® for 11 of the past 14 years and named among the World's Most Innovative Companies by Fast Company for two consecutive years. Visit fiserv.com and follow on social media for more information and the latest company news. +Media Contacts: +BNY MellonRyan Wells+1 646 648 3887ryanw@bnymellon.com +FiservAnn Cave+1 678-325-9435ann.cave@fiserv.com +  +  + View original content:https://www.prnewswire.com/news-releases/bny-mellon-and-fiserv-expand-real-time-fx-rate-quotes-capabilities-for-payments-from-us-financial-institutions-301727635.html +SOURCE BNY Mellon + + diff --git a/news/FISV/2023.01.30/Fiserv Looks to Support New Payment Flows with Major Payment Institution License from M...txt b/news/FISV/2023.01.30/Fiserv Looks to Support New Payment Flows with Major Payment Institution License from M...txt new file mode 100644 index 0000000000000000000000000000000000000000..970f652f796471c90264bf3f12f7d3a95d1cd06c --- /dev/null +++ b/news/FISV/2023.01.30/Fiserv Looks to Support New Payment Flows with Major Payment Institution License from M...txt @@ -0,0 +1,29 @@ + +A Fiserv, Inc. (NASDAQ: FISV) operating entity that provides payment solutions for merchants in Singapore, First Data Merchant Solutions Private Limited, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS), effective January 1, 2023. + +The license allows the company to provide merchant acquisition services and domestic and cross-border money transfer services under the Payment Services Act (PS Act) 2019. + +Fiserv, a leading global provider of payments and financial services technology solutions that has its regional headquarters in Singapore, has been providing solutions to some of the largest banks, fintechs, and merchants in Singapore and across the Asia Pacific region for over two decades. + +Fiserv provides end-to-end payment acceptance solutions for small businesses in Singapore as well as solutions for large enterprise clients, facilitating integrated payment acceptance across physical and digital channels and offering a wide range of payment methods locally and at global scale. + +The MPI license permits the continued offering of merchant acquiring services in Singapore and will allow Fiserv to support new payment flows for its clients including cross-border funds transfer services and real-time account transfers. + +Fiserv has a well-established Global Risk and Controls Framework and Global Cybersecurity Services to help ensure adherence to the regulations established under the PS Act in Singapore, as well as the regulatory bodies in markets around the world in which the company operates. + +Fiserv, as part of the MPI license obligations and its own internal standards, will continue to enhance its rigorous compliance program, which includes anti-money laundering and anti-terrorism financing measures, as well as industry leading cybersecurity standards to protect customer data. + +“Fiserv has a history of payments innovation in Singapore, and we are well-positioned and committed to expand our merchant acquiring business in the country and beyond, continuing to support the merchant community with robust and secure global payments technology enabling locally relevant payment acceptance solutions that meet the demands of today’s consumer,” said Suhaib Khanyari, General Manager of ASEAN at Fiserv. + +In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com. + +Additional Resources: + +Fiserv in Asia Pacific - fiserv.com/en-ap + +About Fiserv + +Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and the FORTUNE 500®, and has been recognized as one of FORTUNE World’s Most Admired Companies® for 11 of the past 14 years and named among the World’s Most Innovative Companies by Fast Company for two consecutive years. Visit fiserv.com and follow on social media for more information and the latest company news. + +FISV-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230130005760/en/ \ No newline at end of file diff --git a/news/FISV/2023.01.31/Fiserv Included in 2023 Bloomberg Gender-Equality Index.txt b/news/FISV/2023.01.31/Fiserv Included in 2023 Bloomberg Gender-Equality Index.txt new file mode 100644 index 0000000000000000000000000000000000000000..b5055abb911952d81cd2c027286d58a87a10961f --- /dev/null +++ b/news/FISV/2023.01.31/Fiserv Included in 2023 Bloomberg Gender-Equality Index.txt @@ -0,0 +1,17 @@ + +Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, has been named to the 2023 Bloomberg Gender-Equality Index (GEI), receiving recognition among companies from a variety of industry sectors representing 45 countries and regions. This marks the seventh consecutive year Fiserv has been represented in the index for its efforts to cultivate an inclusive and welcoming work environment where everyone can succeed. + +The GEI tracks the performance of public companies dedicated to reporting gender-related data, measuring equality across five pillars: leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies and external brand. Companies are scored based on the gender data disclosed for each metric, evaluating both the level of transparency and the company’s performance. Fiserv was rated highly for its strong inclusive culture — scoring 92.86 of 100 in the pillar. + +“Fiserv is committed to moving women forward in the workplace, championing gender equity in technology as part of our company culture,” said Vivian Greentree, Head of Global Corporate Citizenship at Fiserv. “Building equality in our workplace by empowering, supporting, developing and advancing the careers of our associates enriches our culture and ensures we drive the best possible results for our clients.” + +One of the ways Fiserv supports inclusion in the workplace is through its Employee Resource Groups (ERGs). The Women’s Impact Network (WIN) cultivates an environment where every woman can flourish through opportunities for advanced visibility, professional development, mentorship, networking and leadership skills training. + +For more information on the GEI visit: https://www.bloomberg.com/gei. + +About Fiserv + +Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and has been recognized as one of FORTUNE World’s Most Admired Companies® for 11 of the past 14 years. Visit fiserv.com and follow on social media for more information and the latest company news. + +FISV-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230131005425/en/ \ No newline at end of file diff --git a/news/FISV/2023.02.01/Fiserv Named a World's Most Admired Company for 2023.txt b/news/FISV/2023.02.01/Fiserv Named a World's Most Admired Company for 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..52fab0b16dce216e9a2372feb2fab259bd705f31 --- /dev/null +++ b/news/FISV/2023.02.01/Fiserv Named a World's Most Admired Company for 2023.txt @@ -0,0 +1,19 @@ + +Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, has been named one of Fortune® “World’s Most Admired Companies™” for 2023. This prestigious annual ranking identifies the organizations with the strongest reputations within their industries and across industry sectors. + +Fiserv was ranked second in the Financial Data Services category overall, receiving its top marks for Innovation and Financial Soundness, a proof point of the company’s commitment to create value for clients and shareholders. Fiserv was also recognized for its leadership in People Management, Use of Corporate Assets, Corporate Social Responsibility, Quality of Management, Long-Term Investment Value, and Quality of Products and Services. Global Competitiveness was also highly ranked, recognizing the impressive worldwide reach and collective power of Fiserv. This is the twelfth time in the past 15 years that the company has received this honor. + +“We are committed to delivering excellence on behalf of our clients, creating value for them as a trusted partner that is continuously moving the industry forward in an environment of constant change,” said Frank Bisignano, Chairman, President and Chief Executive Officer of Fiserv. “The dedication of our more than 40,000 associates worldwide is the foundation upon which our reputation is built, and nothing speaks to the success of their efforts more than recognition among the World’s Most Admired Companies.” + +To determine the World’s Most Admired Companies, Fortune collaborates with Korn Ferry to evaluate the best-regarded companies in more than 50 industries. Korn Ferry asks executives and directors from eligible companies, along with financial analysts, to rate companies in their own industry on nine criteria. Interviewees evaluate each company on each attribute, and a company’s overall score is determined by the average of the individual attribute scores. Companies that rank in the top half of their industry are defined as most admired within their industry. + +“Fortune congratulates all of the companies whose competitors and peers voted them onto the 2023 Fortune World’s Most Admired Companies list as a recognition of their achievements in a challenging year,” said Fortune Editor in Chief Alyson Shontell. + +In a world that is moving more quickly than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com. + +About Fiserv + +Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news. + +FISV-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005921/en/ \ No newline at end of file diff --git a/news/FISV/2023.02.07/Fiserv : Q4 Earnings Snapshot.txt b/news/FISV/2023.02.07/Fiserv : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..a75ce5a6517ab032671aaa4b4c54f9a01f742cc9 --- /dev/null +++ b/news/FISV/2023.02.07/Fiserv : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +BROOKFIELD, Wis. (AP) — BROOKFIELD, Wis. (AP) — Fiserv Inc. (FISV) on Tuesday reported fourth-quarter earnings of $782 million.The Brookfield, Wisconsin-based company said it had net income of $1.23 per share. Earnings, adjusted for one-time gains and costs, were $1.91 per share.The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of $1.91 per share.The financial services technology company posted revenue of $4.63 billion in the period. Its adjusted revenue was $4.36 billion, which beat Street forecasts. Eleven analysts surveyed by Zacks expected $4.33 billion.For the year, the company reported profit of $2.53 billion, or $3.91 per share. Revenue was reported as $16.77 billion.Fiserv expects full-year earnings in the range of $7.25 to $7.40 per share.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FISV at https://www.zacks.com/ap/FISVFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/FISV/2023.02.07/Fiserv Reports Fourth Quarter and Full Year 2022 Results.txt b/news/FISV/2023.02.07/Fiserv Reports Fourth Quarter and Full Year 2022 Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..24f62af5f67f806fc4d357bfc06b1b32abdd2b0e --- /dev/null +++ b/news/FISV/2023.02.07/Fiserv Reports Fourth Quarter and Full Year 2022 Results.txt @@ -0,0 +1,6310 @@ + +Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, today reported financial results for the fourth quarter and full year 2022. + +Fourth Quarter and Full Year 2022 GAAP Results + +GAAP revenue for the company increased 9% to $4.63 billion in the fourth quarter of 2022 compared to the prior year period, with 9% growth in the Acceptance segment, 7% growth in the Fintech segment and 8% growth in the Payments segment. GAAP revenue for the company increased 9% to $17.74 billion for the full year 2022 compared to the prior year, with 13% growth in the Acceptance segment, 5% growth in the Fintech segment and 7% growth in the Payments segment. GAAP revenue for the fourth quarter and full year 2022 was unfavorably impacted by foreign currency fluctuations. + +GAAP earnings per share was $1.23 in the fourth quarter and $3.91 for the full year 2022, an increase of 146% and 96%, respectively, compared to the prior year periods. The fourth quarter and full year 2022 included lower merger and integration costs compared to the prior year periods. GAAP operating margin was 25.5% and 21.1% in the fourth quarter and full year 2022, respectively, compared to 12.5% and 14.1% in the fourth quarter and full year 2021, respectively. Net cash provided by operating activities was $4.62 billion for the full year 2022 compared to $4.03 billion in the prior year. + +“Fiserv posted a second consecutive year of double-digit organic revenue growth, outpacing expectations and demonstrating market leadership in a challenging environment,” said Frank Bisignano, Chairman, President and Chief Executive Officer of Fiserv. “Our ability to drive strong growth and margin improvement in a shifting economy is a testament to our commitment to clients, cost discipline and dedicated workforce.” + +Fourth Quarter and Full Year 2022 Non-GAAP Results and Additional Information + +Outlook for 2023 + +Fiserv expects organic revenue growth of 7% to 9% and adjusted earnings per share of $7.25 to $7.40, representing growth of 12% to 14%, for 2023. + +“Heading into an uncertain 2023, we remain confident in our role as a strategic provider and partner in the banking and payments ecosystem. We look forward to continuing to deliver market-leading products and services with quality, reliability and value,” said Bisignano. “Recent client wins, high recurring revenue and our focus on productivity position us well for our 38th consecutive year of double-digit adjusted earnings per share growth.” + +Earnings Conference Call + +The company will discuss its fourth quarter and full year 2022 results in a live webcast at 7 a.m. CT on Tuesday, February 7, 2023. The webcast, along with supplemental financial information, can be accessed on the investor relations section of the Fiserv website at investors.fiserv.com. A replay will be available approximately one hour after the conclusion of the live webcast. + +About Fiserv + +Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news. + +Use of Non-GAAP Financial Measures + +In this news release, the company supplements its reporting of information determined in accordance with generally accepted accounting principles (“GAAP”), such as revenue, operating income, operating margin, net income attributable to Fiserv, earnings per share and net cash provided by operating activities, with “adjusted revenue,” “adjusted revenue growth,” “organic revenue,” “organic revenue growth,” “adjusted operating income,” “adjusted operating margin,” “adjusted net income,” “adjusted earnings per share,” “adjusted earnings per share growth,” and “free cash flow.” Management believes that adjustments for certain non-cash or other items and the exclusion of certain pass-through revenue and expenses should enhance shareholders' ability to evaluate the company’s performance, as such measures provide additional insights into the factors and trends affecting its business. Therefore, the company excludes these items from its GAAP financial measures to calculate these unaudited non-GAAP measures. The corresponding reconciliations of these unaudited non-GAAP financial measures to the most comparable GAAP measures are included in this news release, except for forward-looking measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of the non-cash and other items described below that are excluded from the non-GAAP outlook measures. See page 15 for additional information regarding the company’s forward-looking non-GAAP financial measures. + +Examples of non-cash or other items may include, but are not limited to, non-cash intangible asset amortization expense associated with acquisitions; non-cash impairment charges; restructuring costs; severance costs; net charges associated with debt financing activities; merger and integration costs; gains or losses from the sale of businesses, certain assets or investments; certain discrete tax benefits and expenses; and non-cash deferred revenue adjustments arising from acquisitions. The company excludes these items to more clearly focus on the factors management believes are pertinent to the company’s operations, and management uses this information to make operating decisions, including the allocation of resources to the company’s various businesses. + +The company adjusts its non-GAAP results to exclude amortization of acquisition-related intangible assets as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. Management believes that the adjustment of acquisition-related intangible asset amortization supplements GAAP information with a measure that can be used to assess the comparability of operating performance. Although the company excludes amortization from acquisition-related intangible assets from its non-GAAP expenses, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. + +Management believes organic revenue growth is useful because it presents adjusted revenue growth excluding the impact of foreign currency fluctuations, acquisitions, dispositions and the company’s Output Solutions postage reimbursements and including deferred revenue purchase accounting adjustments. Management believes free cash flow is useful to measure the funds generated in a given period that are available for debt service requirements and strategic capital decisions. Management believes this supplemental information enhances shareholders’ ability to evaluate and understand the company’s core business performance. + +These unaudited non-GAAP measures may not be comparable to similarly titled measures reported by other companies and should be considered in addition to, and not as a substitute for, revenue, operating income, operating margin, net income attributable to Fiserv, earnings per share and net cash provided by operating activities or any other amount determined in accordance with GAAP. + +Forward-Looking Statements + +This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding anticipated organic revenue growth, adjusted earnings per share, adjusted earnings per share growth and other statements regarding our future financial performance. Statements can generally be identified as forward-looking because they include words such as “believes,” “anticipates,” “expects,” “could,” “should,” or words of similar meaning. Statements that describe the company’s future plans, objectives or goals are also forward-looking statements. + +Forward-looking statements are subject to assumptions, risks and uncertainties that may cause actual results to differ materially from those contemplated by such forward-looking statements. The factors that could cause the company’s actual results to differ materially include, among others, the following: the company’s ability to compete effectively against new and existing competitors and to continue to introduce competitive new products and services on a timely, cost-effective basis; changes in customer demand for the company’s products and services; the ability of the company’s technology to keep pace with a rapidly evolving marketplace; the success of the company’s merchant alliances, some of which are not controlled by the company; the continuing impact of the COVID-19 pandemic on the company’s employees, clients, vendors, supply chain, operations and sales; the impact of a security breach or operational failure on the company’s business, including disruptions caused by other participants in the global financial system; losses due to chargebacks, refunds or returns as a result of fraud or the failure of the company’s vendors and merchants to satisfy their obligations; changes in local, regional, national and international economic or political conditions, including those resulting from heightened inflation, rising interest rates, a recession, or intensified international hostilities, and the impact they may have on the company and its customers; the effect of proposed and enacted legislative and regulatory actions affecting the company or the financial services industry as a whole; the company’s ability to comply with government regulations and applicable card association and network rules; the protection and validity of intellectual property rights; the outcome of pending and future litigation and governmental proceedings; the company’s ability to successfully identify, complete and integrate acquisitions, and to realize the anticipated benefits associated with the same; the impact of the company’s strategic initiatives; the company’s ability to attract and retain key personnel; volatility and disruptions in financial markets that may impact the company’s ability to access preferred sources of financing and the terms on which the company is able to obtain financing or increase its costs of borrowing; adverse impacts from currency exchange rates or currency controls; changes in corporate tax and interest rates; and other factors included in “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2021, and in other documents that the company files with the Securities and Exchange Commission, which are available at http://www.sec.gov. You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements. The company assumes no obligation to update any forward-looking statements, which speak only as of the date of this news release. + +Fiserv, Inc. + +Condensed Consolidated Statements of Income + +(In millions, except per share amounts, unaudited) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended + + +December 31, + +  + +Year Ended + + +December 31, + +  + +  + +2022 + +  + +  + +  + +2021 + +  + +  + +  + +2022 + +  + +  + +  + +2021 + +  + +Revenue + +  + +  + +  + +  + +  + +  + +  + +Processing and services + +$ + +3,722 + +  + +  + +$ + +3,485 + +  + +  + +$ + +14,460 + +  + +  + +$ + +13,307 + +  + +Product + +  + +909 + +  + +  + +  + +772 + +  + +  + +  + +3,277 + +  + +  + +  + +2,919 + +  + +Total revenue + +  + +4,631 + +  + +  + +  + +4,257 + +  + +  + +  + +17,737 + +  + +  + +  + +16,226 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Expenses + +  + +  + +  + +  + +  + +  + +  + +Cost of processing and services + +  + +1,390 + +  + +  + +  + +1,659 + +  + +  + +  + +5,771 + +  + +  + +  + +6,084 + +  + +Cost of product + +  + +590 + +  + +  + +  + +544 + +  + +  + +  + +2,221 + +  + +  + +  + +2,044 + +  + +Selling, general and administrative + +  + +1,499 + +  + +  + +  + +1,521 + +  + +  + +  + +6,059 + +  + +  + +  + +5,810 + +  + +Net gain on sale of businesses and other assets + +  + +(27 + +) + +  + +  + +— + +  + +  + +  + +(54 + +) + +  + +  + +— + +  + +Total expenses + +  + +3,452 + +  + +  + +  + +3,724 + +  + +  + +  + +13,997 + +  + +  + +  + +13,938 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Operating income + +  + +1,179 + +  + +  + +  + +533 + +  + +  + +  + +3,740 + +  + +  + +  + +2,288 + +  + +Interest expense, net + +  + +(199 + +) + +  + +  + +(170 + +) + +  + +  + +(733 + +) + +  + +  + +(693 + +) + +Other (expense) income + +  + +(11 + +) + +  + +  + +35 + +  + +  + +  + +(94 + +) + +  + +  + +71 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Income before income taxes and income (loss) from investments in unconsolidated affiliates + +  + +969 + +  + +  + +  + +398 + +  + +  + +  + +2,913 + +  + +  + +  + +1,666 + +  + +Income tax provision + +  + +(169 + +) + +  + +  + +(63 + +) + +  + +  + +(551 + +) + +  + +  + +(363 + +) + +Income (loss) from investments in unconsolidated affiliates + +  + +(2 + +) + +  + +  + +20 + +  + +  + +  + +220 + +  + +  + +  + +100 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Net income + +  + +798 + +  + +  + +  + +355 + +  + +  + +  + +2,582 + +  + +  + +  + +1,403 + +  + +Less: net income attributable to noncontrolling interests + +  + +16 + +  + +  + +  + +22 + +  + +  + +  + +52 + +  + +  + +  + +69 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Net income attributable to Fiserv + +$ + +782 + +  + +  + +$ + +333 + +  + +  + +$ + +2,530 + +  + +  + +$ + +1,334 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP earnings per share attributable to Fiserv – diluted + +$ + +1.23 + +  + +  + +$ + +0.50 + +  + +  + +$ + +3.91 + +  + +  + +$ + +1.99 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Diluted shares used in computing earnings per share attributable to Fiserv + +  + +638.6 + +  + +  + +  + +663.9 + +  + +  + +  + +647.9 + +  + +  + +  + +671.6 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Earnings per share is calculated using actual, unrounded amounts. + +Fiserv, Inc. + +Reconciliation of GAAP to + +Adjusted Net Income and Adjusted Earnings Per Share + +(In millions, except per share amounts, unaudited) + +  + +  + +  + +  + +  + +Three Months Ended + + +December 31, + +  + +Year Ended + + +December 31, + +  + +  + +2022 + +  + +  + +  + +2021 + +  + +  + +  + +2022 + +  + +  + +  + +2021 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +GAAP net income attributable to Fiserv + +$ + +782 + +  + +  + +$ + +333 + +  + +  + +$ + +2,530 + +  + +  + +$ + +1,334 + +  + +Adjustments: + +  + +  + +  + +  + +  + +  + +  + +Merger and integration costs 1 + +  + +58 + +  + +  + +  + +382 + +  + +  + +  + +173 + +  + +  + +  + +865 + +  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share attributable to Fiserv growth + +  + +146 + +% + +  + +  + +  + +  + +96 + +% + +  + +  + +Adjusted earnings per share growth + +  + +22 + +% + +  + +  + +  + +  + +16 + +% + +  + +  + +See pages 3-4 for disclosures related to the use of non-GAAP financial measures. + +Earnings per share is calculated using actual, unrounded amounts. + +1 + +Represents acquisition and related integration costs incurred in connection with various acquisitions, including those in 2021 related to the First Data acquisition. Merger and integration costs in the fourth quarter and full year 2022 primarily include share-based compensation and third-party professional service fees attributable to various acquisitions. First Data integration costs in the fourth quarter and full year 2021 primarily include $160 million and $370 million, respectively, of third-party professional service fees associated with integration activities; $3 million and $44 million, respectively, of incremental share-based compensation, including the fair value of stock awards assumed by Fiserv; and $124 million and $277 million, respectively, of other integration-related compensation costs. The company completed the integration activities associated with the achievement of cost synergies related to the First Data acquisition as of December 31, 2021. + +2 + +Represents amortization of intangible assets acquired through various acquisitions, including customer relationships, software/technology and trade names. This adjustment does not exclude the amortization of other intangible assets such as contract costs (sales commissions and deferred conversion costs), capitalized and purchased software, financing costs and debt discounts. See additional information on page 14 for an analysis of the company’s amortization expense. + +3 + +Represents the company’s share of amortization of acquisition-related intangible assets and, in 2022, expenses associated with debt refinancing activities at its unconsolidated affiliates, as well as the minority interest share of amortization of acquisition-related intangible assets at its subsidiaries in which the company holds a controlling financial interest. This adjustment for the full year 2022 also includes gains totaling $201 million related to certain equity investment transactions and other net expense of $43 million associated with joint venture debt guarantees. This adjustment for the fourth quarter and full year 2021 includes net gains totaling $23 million and $98 million, respectively, related to the fair value remeasurement and sale of certain equity investments.  + +4 + +Represents an aggregate net gain on the sale of Fiserv Costa Rica, S.A. and the company’s Systems Integration Services operations during the fourth quarter of 2022, and on the sale of the company’s Korea operations and certain merchant contracts in conjunction with the mutual termination of one of the company’s merchant alliance joint ventures during 2022. + +5 + +The tax impact of adjustments is calculated using a tax rate of 21% and 23% for the full year 2022 and 2021, respectively, which approximates the company's annual effective tax rates, exclusive of the $16 million actual tax impacts associated with the net gain on sale of businesses, other assets and certain equity investment transactions during 2022. + +6 + +Represents certain discrete tax items, such as foreign derived intangible income tax benefits from a subsidiary restructuring and the revaluation of deferred taxes due to a change in the respective statutory tax rates in the United Kingdom and Argentina. + +Fiserv, Inc. + +Financial Results by Segment + +(In millions, unaudited) + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended + + +December 31, + +  + +Year Ended + + +December 31, + +  + +  + +2022 + +  + +  + +  + +2021 + +  + +  + +  + +2022 + +  + +  + +  + +2021 + +  + +Total Company + +  + +  + +  + +  + +  + +  + +  + +Revenue + +$ + +4,631 + +  + +  + +$ + +4,257 + +  + +  + +$ + +17,737 + +  + +  + +$ + +16,226 + +  + +Adjustments: + +  + +  + +  + +  + +  + +  + +  + +Output Solutions postage reimbursements + +  + +(277 + +) + +  + +  + +(244 + +) + +  + +  + +(989 + +) + +  + +  + +(860 + +) + +Deferred revenue purchase accounting adjustments + +  + +6 + +  + +  + +  + +6 + +  + +  + +  + +25 + +  + +  + +  + +27 + +  + +Adjusted revenue + +$ + +4,360 + +  + +  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exchange rate changes on cash and cash equivalents + +  + +(41 + +) + +  + +  + +(27 + +) + +Net change in cash and cash equivalents + +  + +(13 + +) + +  + +  + +636 + +  + +Cash and cash equivalents, beginning balance + +  + +3,205 + +  + +  + +  + +2,569 + +  + +Cash and cash equivalents, ending balance + +$ + +3,192 + +  + +  + +$ + +3,205 + +  + +Fiserv, Inc. + +Condensed Consolidated Balance Sheets + +(In millions, unaudited) + +  + +  + +  + +  + +  + +December 31, + +  + +  + +2022 + +  + +  + +2021 + +Assets + +  + +  + +  + +Cash and cash equivalents + +$ + +902 + +  + +$ + +835 + +Trade accounts receivable – net + +  + +3,585 + +  + +  + +2,860 + +Prepaid expenses and other current assets + +  + +1,575 + +  + +  + +1,523 + +Settlement assets + +  + +21,482 + +  + +  + +13,652 + +Total current assets + +  + +27,544 + +  + +  + +18,870 + +  + +  + +  + +  + +Property and equipment – net + +  + +1,958 + +  + +  + +1,742 + +Customer relationships – net + +  + +8,424 + +  + +  + 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+  + +878 + +Total liabilities + +  + +52,181 + +  + +  + +44,299 + +  + +  + +  + +  + +Redeemable noncontrolling interests + +  + +161 + +  + +  + +278 + +  + +  + +  + +  + +Fiserv shareholders’ equity + +  + +30,828 + +  + +  + +30,952 + +Noncontrolling interests + +  + +699 + +  + +  + +720 + +Total equity + +  + +31,527 + +  + +  + +31,672 + +Total liabilities and equity + +$ + +83,869 + +  + +$ + +76,249 + +  + +  + +  + +  + +  + +Fiserv, Inc. + +Selected Non-GAAP Financial Measures and Additional Information + +(In millions, unaudited) + +Organic Revenue Growth 1 + +  + +Three Months Ended + + +December 31, + +  + +Year Ended + + +December 31, + +  + +  + +2022 + +  + +  + +  + +2021 + +  + +  + +Growth + +  + +  + +2022 + +  + +  + +  + +2021 + +  + +  + +Growth + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Total Company + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Adjusted revenue + +  + +$ + +4,360 + +  + +  + +$ + +4,019 + +  + +  + 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+ +  + +  + +  + +— + +  + +  + +  + +(7 + +) + +  + +  + +Organic revenue + +  + +$ + +822 + +  + +  + +$ + +764 + +  + +  + +8 + +% + +  + +$ + +3,171 + +  + +  + +$ + +3,015 + +  + +  + +5 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Payments + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Adjusted revenue + +  + +$ + +1,671 + +  + +  + +$ + +1,542 + +  + +  + +  + +  + +$ + +6,287 + +  + +  + +$ + +5,860 + +  + +  + +  + +Currency impact 2 + +  + +  + +26 + +  + +  + +  + +— + +  + +  + +  + +  + +  + +73 + +  + +  + +  + +— + +  + +  + +  + +Organic revenue + +  + +$ + +1,697 + +  + +  + +$ + +1,542 + +  + +  + +10 + +% + +  + +$ + +6,360 + +  + +  + +$ + +5,860 + +  + +  + +9 + +% + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Corporate and Other + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Adjusted revenue + +  + +$ + +6 + +  + +  + +$ + +6 + +  + +  + +  + +  + +$ + +24 + +  + +  + +$ + +32 + +  + +  + +  + +Divestiture adjustments + +  + +  + +(6 + +) + +  + +  + +(6 + +) + +  + +  + +  + +  + +(24 + +) + +  + +  + +(32 + +) + +  + +  + +Organic revenue + +  + +$ + +— + +  + +  + +$ + +— + +  + +  + +  + +  + +$ + +— + +  + +  + +$ + +— + +  + +  + +  + +See pages 3-4 for disclosures related to the use of non-GAAP financial measures. + +Organic revenue growth is calculated using actual, unrounded amounts. + +1 + +Organic revenue growth is measured as the change in adjusted revenue (see pages 9-10) for the current period excluding the impact of foreign currency fluctuations and revenue attributable to acquisitions and dispositions, divided by adjusted revenue from the prior period excluding revenue attributable to dispositions. + +2 + +Currency impact is measured as the increase or decrease in adjusted revenue for the current period by applying prior period foreign currency exchange rates to present a constant currency comparison to prior periods. + +Fiserv, Inc. + +Selected Non-GAAP Financial Measures and Additional Information (cont.) + +(In millions, unaudited) + +Free Cash Flow + +  + +Year Ended + + +December 31, + +  + +  + +2022 + +  + +  + +  + +2021 + +  + +  + +  + +  + +  + +  + +Net cash provided by operating activities + +  + +$ + +4,618 + +  + +  + +$ + +4,034 + +  + +Capital expenditures + +  + +  + +(1,479 + +) + +  + +  + +(1,160 + +) + +Adjustments: + +  + +  + +  + +  + +Distributions paid to noncontrolling interests and redeemable noncontrolling interests + +  + +  + +(42 + +) + +  + +  + +(62 + +) + +Distributions from unconsolidated affiliates included in cash flows from investing activities + +  + +  + +138 + +  + +  + +  + +115 + +  + +Severance, merger and integration payments + +  + +  + +306 + +  + +  + +  + +712 + +  + +Tax payments on adjustments + +  + +  + +(64 + +) + +  + +  + +(161 + +) + +Tax payments on gain on sale of assets and investments in unconsolidated affiliates + +  + +  + +49 + +  + +  + +  + +54 + +  + +Other + +  + +  + +(11 + +) + +  + +  + +— + +  + +Free cash flow + +  + +$ + +3,515 + +  + +  + +$ + +3,532 + +  + +Total Amortization 1 + +  + +Three Months Ended + + +December 31, + +  + +Year Ended + + +December 31, + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Acquisition-related intangible assets + +  + +$ + +433 + +  + +$ + +484 + +  + +$ + +1,849 + +  + +$ + +2,038 + +Capitalized software and other intangibles + +  + +  + +101 + +  + +  + +66 + +  + +  + +359 + +  + +  + +268 + +Purchased software + +  + +  + +53 + +  + +  + +60 + +  + +  + +233 + +  + +  + +241 + +Financing costs and debt discounts + +  + +  + +10 + +  + +  + +11 + +  + +  + +43 + +  + +  + +52 + +Sales commissions + +  + +  + +27 + +  + +  + +25 + +  + +  + +106 + +  + +  + +97 + +Deferred conversion costs + +  + +  + +18 + +  + +  + +14 + +  + +  + +67 + +  + +  + +51 + +Total amortization + +  + +$ + +642 + +  + +$ + +660 + +  + +$ + +2,657 + +  + +$ + +2,747 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +See pages 3-4 for disclosures related to the use of non-GAAP financial measures. + +1 + +The company adjusts its non-GAAP results to exclude amortization of acquisition-related intangible assets as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. Management believes that the adjustment of acquisition-related intangible asset amortization supplements the GAAP information with a measure that can be used to assess the comparability of operating performance. Although the company excludes amortization from acquisition-related intangible assets from its non-GAAP expenses, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets. + +Fiserv, Inc. +Full Year Forward-Looking Non-GAAP Financial Measures + +Reconciliations of unaudited non-GAAP financial measures to the most comparable GAAP measures are included in this news release, except for forward-looking measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of these items that are excluded from the non-GAAP outlook measures. The company’s forward-looking non-GAAP financial measures for 2023, including organic revenue growth, adjusted earnings per share and adjusted earnings per share growth, are designed to enhance shareholders’ ability to evaluate the company’s performance by excluding certain items to focus on factors and trends affecting its business. + +Organic Revenue Growth - The company’s organic revenue growth outlook for 2023 excludes the impact of foreign currency fluctuations, acquisitions, dispositions and the impact of the company’s Output Solutions postage reimbursements. The currency impact is measured as the increase or decrease in the expected adjusted revenue for the period by applying prior period foreign currency exchange rates to present a constant currency comparison to prior periods. + +  + +  + +  + +  + +  + +  + +Growth + +2023 Revenue + +  + +  + +  + +  + +  + +5% - 7% + +Output Solutions postage reimbursements + +  + +  + +  + +  + +  + +(0.5)% + +2023 Adjusted revenue + +  + +  + +  + +  + +  + +4.5% - 6.5% + +  + +  + +  + +  + +  + +  + +  + +Currency impact + +  + +  + +  + +  + +  + +2% + +Acquisition adjustments + +  + +  + +  + +  + +  + +(0.5)% + +Divestiture adjustments + +  + +  + +  + +  + +  + +1% + +2023 Organic revenue + +  + +  + +  + +  + +  + +7% - 9% + +Adjusted Earnings Per Share - The company’s adjusted earnings per share outlook for 2023 excludes certain non-cash or other items such as non-cash intangible asset amortization expense associated with acquisitions; non-cash impairment charges; merger and integration costs; severance costs; gains or losses from the sale of businesses, certain assets and investments; and certain discrete tax benefits and expenses. The company estimates that amortization expense in 2023 with respect to acquired intangible assets will decrease approximately 10% compared to the amount incurred in 2022. + +Other adjustments to the company’s financial measures that were incurred in 2022 are presented in this news release; however, they are not necessarily indicative of adjustments that may be incurred throughout 2023 or beyond. Estimates of these impacts and adjustments on a forward-looking basis are not available due to the variability, complexity and limited visibility of these items. + +FISV-E +View source version on businesswire.com: https://www.businesswire.com/news/home/20230207005534/en/ \ No newline at end of file diff --git a/news/FISV/2023.02.07/Marketmind: Powell's state of the union.txt b/news/FISV/2023.02.07/Marketmind: Powell's state of the union.txt new file mode 100644 index 0000000000000000000000000000000000000000..375e0e261dba1a271b2fecfd2ea253bef72dafd1 --- /dev/null +++ b/news/FISV/2023.02.07/Marketmind: Powell's state of the union.txt @@ -0,0 +1 @@ +While U.S. President Joe Biden gets set to deliver his second "State of the Union" address late on Tuesday, world markets will be more in thrall to what his Federal Reserve Chair makes of an increasingly confusing economic picture.Jerome Powell makes his first speech since the Fed's latest quarter-point interest rate rise last week. More importantly, it's his first chance to comment on Friday's seemingly blockbuster U.S. employment report for January.For markets that appeared comfortable as recently as Thursday that the Fed was signalling peak interest rates ahead and open to easing after that, the jobs report was a huge shock that's prompted dramatic re-pricing of the interest rate space.Futures markets now tally with many Fed policymakers for the first time this year and seem to accept the Fed's 'terminal rate' will be above 5% after all. Perhaps just as significantly, they now price year-end Fed rates higher than the 4.5-4.75% range they are at right now.Adding to the confusion are some doubts about just how strong the jobs report was relative to an assumed picture of a tight but gradually weakening labor market - mainly because of potentially misleading data revisions and seasonal adjustments.But Powell's colleagues are already beating the drum louder. Atlanta Federal Reserve Bank President Raphael Bostic on Monday said of the jobs readout: "It'll probably mean we have to do a little more work." Ahead of Powell's speech at 1240 EST, world stocks and U.S. futures steadied on Tuesday after a rough start to the week and U.S. Treasury yields gave back a little of their wild upswing since the payrolls surprise. The dollar took a breather after its near 3% surge from Thursday's lows. The Fed was not alone in talking tough. Australia's central bank raised its cash rate 25 basis points to a decade-high of 3.35% on Tuesday and reiterated that further increases would be needed, a more hawkish policy tilt than many had expected.Investors will watch Biden's State of the Union with one eye on the potentially destabilising debt ceiling standoff with Congress. Biden is expected to insist that raising the debt limit is not negotiable and U.S. lawmakers should not use it as a "bargaining chip,"Republican U.S. House Speaker Kevin McCarthy called on Biden to agree to compromises and spending cuts, as the two remain deadlocked over raising the nation's $31.4 trillion debt ceiling. In corporate news, shares in BP jumped almost 4% after posting a record profit of $27.6 billion in 2022 and boosting its dividend by 10%. BP's record profit follows similar reports from rivals Shell, Exxon Mobil and Chevron last week.Other big movers in Europe included a 17% slide in Nordic Semiconductor after it missed fourth-quarter earnings estimates and a 15% slump in ams OSRAM after the sensor maker reported a weak first-quarter outlook and suspended its 2022 cash dividend.Key developments that may provide direction to U.S. markets later on Tuesday:* U.S. Dec trade balance, Dec consumer credit; Canada Dec trade* Federal Reserve Chair Jerome Powell, Fed Vice Chair for Supervision Michael Barr, Bank of Canada chief Tiff Macklem all speak* U.S. Treasury auctions 3-year notes* U.S. President Joe Biden delivers State of the Union speech * U.S. corp earnings: DuPont de Nemours, Prudential Financial, Omnicom, Enphase Energy, Atmos Energy, Amcor, KKR, Chipotle, Lumen Technologies, Centene, Vertex Pharmaceuticals, Royal Caribbean Cruises, FMC, Fiserv, Gartner, Carrier Global etcGRAPHICS: Job gains remain strong https://www.reuters.com/graphics/USA-FED/POWELL/klvygdqrwvg/chart_eikon.jpgLabor share in decline https://www.reuters.com/graphics/USA-ECONOMY/SPENDING/dwpkdekobvm/chart.pngBP hits record profit https://www.reuters.com/graphics/BP-RESULTS/akpeqmnnopr/chart.pngTaming inflation https://www.reuters.com/graphics/GLOBAL-MARKETS/THEMES/mopaklyjnpa/chart.png (By Mike Dolan, editing by Christina Fincher mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/FISV/2023.02.08/Digital Banking User Growth Continued at Strong Pace in 2022.txt b/news/FISV/2023.02.08/Digital Banking User Growth Continued at Strong Pace in 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..ba8e55e7e8cea38ab2fd9c3772dfe57490bc464c --- /dev/null +++ b/news/FISV/2023.02.08/Digital Banking User Growth Continued at Strong Pace in 2022.txt @@ -0,0 +1,35 @@ + +As consumers continue to seek day-to-day convenience, the number of digital banking users continues to grow, delivering significant benefits to financial institutions that offer these services. In 2022, the approximately 2,500 banks and credit unions that leverage online and mobile banking solutions from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, saw average year-over-year organic user growth of 9%, demonstrating the strong ongoing demand for these services. + +“The world is experiencing a dramatic shift in digital expectations, creating pressure for banks and credit unions to offer new and differentiated capabilities, and integrate them seamlessly,” said Whitney Stewart Russell, President of Digital Channels at Fiserv. “Consumers have a high degree of trust in the ability of financial institutions to securely hold and move their money, yet consumers have shown they are willing to make tradeoffs when a financial institution can’t meet their needs. As we move past the pandemic and people become more selective about the digital services they use, we’ll see the trust factor rise in importance. If financial institutions offer the services consumers want, consumers will choose to do business with them.” + +Delivering Value to Financial Institutions + +Digital banking usage has been shown to drive customer loyalty and provide a host of other benefits. + +In partnership with Fiserv, America First Credit Union (AFCU) embarked on a digital engagement intensity study to understand how members engaged with the institution’s digital banking products. Across the board, the study found that digital banking users deliver higher value to AFCU, with a strong correlation between digital engagement and net profit, product holdings, balance growth and transaction activity. During the study period, net profit for digitally engaged members was 29% higher than for non-digitally engaged members. Digitally engaged members also had more deposit and loan products with AFCU and 48% higher deposit balances. + +Meeting Evolving Consumer Expectations + +As the top provider of online and mobile banking, bill payment, account-to-account and person-to-person payment solutions, Fiserv is accelerating digital journeys to enable financial institutions to meet evolving consumer expectations. + +Experience Digital from Fiserv, powered by open banking APIs, unites the best digital and fintech journeys to accelerate financial institutions’ digital roadmaps and meet consumer expectations through a simple, seamlessly connected digital ecosystem. Fueled by industry-leading technology, Fiserv offers two suites—Configure and Create—that give financial institutions either a turnkey or customizable approach to meet their unique needs. Fiserv also provides banks and credit unions with complementary groups of data-rich tools that are designed to grow customer acquisition and wallet share, increase digital engagement and lower costs through increased efficiencies. + +“With our digital banking platform, we’re getting a top-notch digital banking solution in an ASP environment. The integration is seamless because they are all Fiserv products. Plus, Fiserv is focused on keeping the platform strong and robust,” said Kim Ervin, President and CEO at Staley Credit Union, which uses the Configure suite. + +“Our digital philosophy is defined by three customer-centric principles: know me, value me, and make it easy for me. We set out to design a differentiating experience that positions us to be future ready and digitally enabled to meet the evolving needs of our customers,” said Amela Ciric, Chief Innovation Officer at Broadway Bank, which uses the Create suite. “We selected Fiserv as our digital partner because of their expertise, shared commitment to innovation, and solutions that enabled us to do so.” + +One powerful digital journey is CardHub from Fiserv, which is a next generation digital solution that enables a single, connected card management experience to help financial institutions meet cardholders’ rising digital expectations with features like advanced alerts and controls, spend insights, and card on file management. In the past 18 months, CardHub has experienced significant growth, and banks and credit unions that have implemented the solution have on average seen four times more growth in consumer adoption of CardHub over their previous digital card management solution. + +“Financial institutions that successfully anticipate and meet the digital needs of their customers will stand out in a changing market,” concluded Russell. + +In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com. + +Additional Resources: + +About Fiserv + +Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news. + +FISV-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230208005607/en/ \ No newline at end of file diff --git a/news/FISV/2023.02.13/FIS takes $17.6 billion hit in merchant unit to be spun off.txt b/news/FISV/2023.02.13/FIS takes $17.6 billion hit in merchant unit to be spun off.txt new file mode 100644 index 0000000000000000000000000000000000000000..cc252f1f50b93ea73f0a6c9723ac23c9afe1f21b --- /dev/null +++ b/news/FISV/2023.02.13/FIS takes $17.6 billion hit in merchant unit to be spun off.txt @@ -0,0 +1,72 @@ +Feb 13 (Reuters) - Banking and payments processing +conglomerate Fidelity National Information Services Inc +took a $17.6 billion write-down on its merchant business as it +unveiled plans on Monday to spin it off, undoing a $43 billion +acquisition that went sour.FIS built its merchant business, which processes +transactions for companies, on the back of its $43 billion +purchase of Worldpay four years ago. New financial technology +startups have since eroded its market share and challenged its +profitability.FIS said in the statement it planned to spin off Worldpay in +the next 12 months into a separate company that will be owned by +its shareholders on a tax-free basis, confirming a Reuters +report published on Friday.Shares of FIS, which have lost more than half their +market value since the company bought Worldpay, closed down +12.5% at $66 on Monday, giving it a market capitalization of +about $39 billion.FIS, which has been under pressure to explore strategic +options from activist investors D.E. Shaw Group and Jana +Partners, also forecast 2023 profit below market estimates on +Monday. FIS forecast 2023 profit between $5.70 and $6 per share, +much below analysts' expectations of $6.57 per share, according +to Refinitiv IBES data.Last year, D.E. Shaw and Jana urged FIS to undertake a +review of its operations, pointing to a significant discount in +its share price to peers such as Fiserv Inc and Global +Payments Inc. Jana also pushed the company to accelerate +previously announced changes to its top management.FIS caved into the activists' demands in December when it +unveiled a wide-ranging strategic review of its operations and +named Stephanie Ferris as the new leader of the company, +replacing Gary Norcross, who spearheaded the Worldpay +acquisition.Charles Drucker, the former CEO of Worldpay, will lead the +merchants business after it is spun out, FIS said. Ferris and +Drucker have worked together closely for several years, going +back to the early 2000s when they first crossed paths at Fifth +Third Bancorp.Drucker, a long-time veteran of the financial services +industry, previously also worked at the Fifth Third spin-off +Vantiv, and then at Worldpay after it merged with Vantiv. He +played a key role alongside Ferris in selling Worldpay to FIS in +2019, leaving the company shortly after the deal closed.On a conference call with analysts, CEO Ferris said the +separation would free up Worldpay to pursue growth strategically +through more M&A - something the unit was unable to do under the +FIS umbrella as its business was inextricably tied to the parent +company."We do believe having a different capital allocation for +that business will enable M&A that we just cannot feed it inside +the (FIS parent),” said Ferris.Some analysts questioned the decision to carve out Worldpay, +blaming FIS' woes on the poor integration of the merchant +business rather than the logic of the combination."FIS’ recent issues stem more from operational missteps and +that the strategy behind the combination was not necessarily +flawed from a long-term perspective," Morningstar analysts wrote +in a note to clients on Monday.FIS, which was started in 1968 and counts big corporations +in the financial services industry as its customers, has cut +thousands of jobs since the review was launched and plans to +deliver costs savings of $1.25 billion as part of the broader +efforts to reshape the business.The separation of Worldpay would leave FIS with a core +processing systems business, enabling transactions among banks +and other financial institutions, as well as its capital markets +division serving investment firms."On the positive side, following the spinoff, FIS will +return to being primarily a bank tech provider. This business +while lower growth, is relatively predictable and stable, and we +believe this segment has the strongest moat among FIS’ +businesses," Morningstar added.FIS follows other large conglomerates, including General +Electric Co, Johnson & Johnson, Kellogg Co +and Toshiba Corp, who have broken up their sprawling +empires over the past few years amid pressure from investors to +become leaner and focus on enhanced profitability in some of the +core businesses.In a separate statement, Jana Partners backed FIS' move to +spin out Worldpay."We welcome the decisive actions taken by the company and +believe separating the merchant business with Charles Drucker as +CEO, increasing savings targets, and aligning compensation with +performance are the right steps to unlock shareholder value," +said Scott Ostfeld, managing partner at Jana Partners. +(Reporting by Niket Nishant, Anirban Sen and Milana Vinn; +Additional reporting by Anirban Chakroborti in Bengaluru, David +French and Svea Herbst-Bayliss in New York; Editing by Devika +Syamnath, Lisa Shumaker and Lincoln Feast.) \ No newline at end of file diff --git a/news/FISV/2023.02.16/Fiserv Named to Forbes America's Best Employers 2023 List.txt b/news/FISV/2023.02.16/Fiserv Named to Forbes America's Best Employers 2023 List.txt new file mode 100644 index 0000000000000000000000000000000000000000..5f57be1737ff9561ee977f9874c7fe5a35175c40 --- /dev/null +++ b/news/FISV/2023.02.16/Fiserv Named to Forbes America's Best Employers 2023 List.txt @@ -0,0 +1,19 @@ + +Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, has been recognized by Forbes as one of America’s Best Employers 2023, a prestigious annual ranking compiled in partnership with market research company Statista that highlights the large employers American workers would most recommend to others. + +Forbes and Statista selected America’s Best Large Employers through a survey of approximately 45,000 Americans working for companies with more than 5,000 employees. The evaluation was based on direct and indirect recommendations from employees who were asked to rate their willingness to recommend their own employers to friends and family. Employees were also asked about other employers in their industries that stood out either positively or negatively. The final list ranks the 500 large employers that received the most recommendations. + +“As a global technology leader and an innovative, human-centered company, Fiserv is committed to creating a workplace experience that inspires our associates to be at their best every day,” said Frank Bisignano, Chairman, President and Chief Executive Officer of Fiserv. “We are especially honored to receive recognition that reflects the voice of our associates, who have provided positive feedback about Fiserv as a great place to work.” + +Fiserv is a global fintech invested in local, human potential, and is committed to creating a work culture that is supportive, inclusive, and innovative, and to furthering the professional development and career growth of associates. The company takes a deliberate approach to help associates build and strengthen capabilities, and provides opportunities for learning at every level, including learning focused on job skills, leadership development, diversity and inclusion, business acumen and more. Fiserv also provides a broad range of benefits and programs that support and enhance the company’s employer value proposition, help attract and retain talent, support diversity and inclusion initiatives, create equity, and provide local wellness programs and easier access to care. + +To determine Forbes America’s Best Employers, employees were consulted anonymously through several online panels, allowing them to openly state their opinions and avoiding influence from their employers. In addition to direct and indirect recommendations, employees were asked to give their opinions on a series of statements surrounding work-related topics, including working conditions, salary, potential for development and company image regarding their current employer. + +In a world that is moving more quickly than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com. + +About Fiserv + +Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news. + +FISV-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005537/en/ \ No newline at end of file diff --git a/news/FISV/2023.02.23/Fiserv Announces Share Repurchase Authorization.txt b/news/FISV/2023.02.23/Fiserv Announces Share Repurchase Authorization.txt new file mode 100644 index 0000000000000000000000000000000000000000..98b2462772e03dec46d614f7585cce443e6f4d75 --- /dev/null +++ b/news/FISV/2023.02.23/Fiserv Announces Share Repurchase Authorization.txt @@ -0,0 +1,11 @@ + +Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, announced that its Board of Directors has authorized it to repurchase 75 million shares of the company’s common stock, which is in addition to the shares remaining available under the company’s existing authorization. + +Fiserv may repurchase shares in the open market or in privately negotiated transactions at the discretion of management, subject to its assessment of market conditions and other factors. This authorization does not expire. + +About Fiserv + +Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news. + +FISV-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005462/en/ \ No newline at end of file diff --git a/news/FISV/2023.02.27/Fiserv to Present at Upcoming Investor Conferences.txt b/news/FISV/2023.02.27/Fiserv to Present at Upcoming Investor Conferences.txt new file mode 100644 index 0000000000000000000000000000000000000000..4f13bc2e4d69438644c298500fb9dde7622ca05a --- /dev/null +++ b/news/FISV/2023.02.27/Fiserv to Present at Upcoming Investor Conferences.txt @@ -0,0 +1,11 @@ + +Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, announced its participation in the following investor conferences. + +Live webcasts and archived replays of the presentations will be available on the investor relations section of the Fiserv website at investors.fiserv.com. + +About Fiserv + +Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news. + +FISV-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230227005600/en/ \ No newline at end of file diff --git a/news/FISV/2023.03.01/Carat from Fiserv Introduces First-to-Market Capabilities to Help Enterprises Optimize ...txt b/news/FISV/2023.03.01/Carat from Fiserv Introduces First-to-Market Capabilities to Help Enterprises Optimize ...txt new file mode 100644 index 0000000000000000000000000000000000000000..19b152e7172a094c25ca27dfb39e64e919dad4d9 --- /dev/null +++ b/news/FISV/2023.03.01/Carat from Fiserv Introduces First-to-Market Capabilities to Help Enterprises Optimize ...txt @@ -0,0 +1,25 @@ + +As businesses juggle the costs and complexities of rising demand for online delivery, Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, has introduced a new solution enabling enterprise restaurants, retailers, and grocers to optimize delivery operations, reduce costs, and regain control of their customers’ delivery experience. + +Via a new Delivery Optimization solution available to enterprises leveraging the Carat commerce platform, businesses are able to connect their digital commerce operations to more than 40 different delivery providers through a single integration, access functionality that simplifies multi-party settlement, and grow customer loyalty by retaining valuable influence over customer journeys. The solution pairs split settlement capabilities from Carat with a delivery management platform from Bringg to help businesses efficiently unify last mile delivery, fulfillment and returns. + +“Explosive growth in online delivery has created tremendous digital opportunity for businesses of all types, while adding new challenges to their operating models,” said Casey Klyszeiko, Senior Vice President and Head of Global eCommerce and Carat, Fiserv. “Our new Delivery Optimization solution enables businesses to best manage their own costs, while also retaking control of customer relationships so they can increase brand loyalty.” + +Through a single API integration, this service allows enterprises to: + +“The delivery industry continues to evolve at an unprecedented rate, and consumers have become accustomed to a seamless delivery experience,” said Guy Bloch, CEO of Bringg. “Our relationship with Fiserv will allow large enterprises to efficiently manage delivery workflows, while still providing an elevated delivery experience for their customers.” + +Carat is the global commerce platform from Fiserv that orchestrates payments and experiences for the world’s largest businesses. With Carat, leading brands can unify their commerce, optimize transactions, and imagine and realize new ways to engage with customers. + +Learn more at carat.fiserv.com. + +About Fiserv + +Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news. + +About Bringg + +Bringg is the delivery management platform market leader, serving over 800 customers globally. Bringg manages and unifies last mile delivery, fulfillment and returns, empowering enterprises to manage and grow their delivery capacity, reduce costs and provide branded customer experiences. Bringg’s open SaaS platform and robust network of over 250 delivery providers, enables enterprises to offer customers any delivery option, whether using internal drivers or external delivery providers, including 3PL, carriers, crowdsourced fleets or independent gig drivers (https://www.bringg.com/). + +FISV-G +View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005252/en/ \ No newline at end of file diff --git a/news/FTNT/2023.01.04/Fortinet : Why FortiClient Delivers Better ZTNA.txt b/news/FTNT/2023.01.04/Fortinet : Why FortiClient Delivers Better ZTNA.txt new file mode 100644 index 0000000000000000000000000000000000000000..c2a8ece29bb7bb90fcfb460e4be29c97fbf84eae --- /dev/null +++ b/news/FTNT/2023.01.04/Fortinet : Why FortiClient Delivers Better ZTNA.txt @@ -0,0 +1,43 @@ + + + Recently, IT executives from a major technology company paid a visit to the Fortinet corporate offices in Sunnyvale, California. As is typical for prospective customers or partners, the visitors were given demonstrations of our products and solutions in action at our executive briefing center (EBC). + + + Because our visitors use a competitor's product, they naturally compared experiences with their existing cybersecurity against ours. Happily, we all learned a few things from the exchange of information. As we laid out our architecture for our EBC visitors, one important revelation came to the forefront that we all agreed upon: FortiClient enables the seamless deployment, operation, and architecture of zero trust network access (ZTNA). + + + While customers may be purchasing FortiClient for its Universal ZTNA capability, there are additional features that make FortiClient a very powerful solution-and significantly stronger than other ZTNA offerings on the market. + + + VPN and ZTNA in a Single Agent + + + A highly valued capability of FortiClient that needs to be acknowledged when discussing the solution's benefits is that FortiClient is both a VPN and a ZTNA agent. The Fortinet ZTNA architecture mirrors the VPN infrastructure. This is important because companies are frequently turning to ZTNA as a means of improving their remote access situation. Many are shifting from using a VPN network to a ZTNA network. + + + With FortiClient, having both these capabilities in a single agent simplifies the tasks for the IT team in several ways. First, there's less complexity-IT folks only need to deal with a single agent. Second, this means that if the customer starts with just VPN usage for remote access, they're able to move application coverage, one application at a time, over to ZTNA, using VPN for the remaining access requirements. Therefore, throughout deployment, the organization can shift to using ZTNA through a very controlled, very careful, and very easy transition. + + + A Smooth Transition from VPN to ZTNA + + + There are no significant changes within the architecture. Fortinet uses the same basic concepts of an agent coming back to an on-premises or cloud-based concentrator for both VPN and ZTNA. As each application moves over, users experience the simplicity of accessing their application via this ZTNA process versus a VPN process. And, if anything negative should happen with the ZTNA, it's very simple to roll back to the VPN approach, iron out any wrinkles that may have come up, and then proceed along with the ZTNA. + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fortinet Inc. published this content on 04 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 January 2023 15:17:06 UTC. + + diff --git a/news/FTNT/2023.01.05/Safe-T Group Ltd. Stock Trades Bullish In 2023; Subsidiary Expansion And Record Earning...txt b/news/FTNT/2023.01.05/Safe-T Group Ltd. Stock Trades Bullish In 2023; Subsidiary Expansion And Record Earning...txt new file mode 100644 index 0000000000000000000000000000000000000000..ea761b8751d9dc0ee7f8542fae0b6670ad122fa1 --- /dev/null +++ b/news/FTNT/2023.01.05/Safe-T Group Ltd. Stock Trades Bullish In 2023; Subsidiary Expansion And Record Earning...txt @@ -0,0 +1 @@ +Safe-T Group Ltd. (NASDAQ, TASE: SFET) stock is starting 2023 in a bullish mood. Since the start of the year, SFET shares are higher by over 10% to $2.70 at press-time on Wednesday. And the better news from an investor's perspective is that the momentum into the new year is fueled by updates showing that SFET is doing more than growing quickly; it's also setting records for both top and bottom-line performance. For a low-float company like SFET, that combination is a recipe for share price appreciation.Of course, companies need the operations ammo to support such a proposition, and Safe-T Group does. In December, SFET announced that its wholly owned subsidiary and enterprise privacy network unit, NetNut, is positioning itself to take advantage of potentially enormous revenue-generating opportunities from current and prospective clients in the price comparison website (PCW) market, one which DataINTELO research estimated to be a $2.8 billion global industry in 2019. But, while significant then, the market opportunity is getting more substantial, with an expected CAGR of 8% through the end of this decade, creating a revenue-generating target market of over $6 billion.And SFET isn't wasting time addressing that potential. They are already promoting best-in-class optimization solutions to several client segments that could lead to this small-cap cyber-security company being on its way to earning a big-time share. If so, despite the recent run and with stocks generally trading on a forward-looking perspective, there's plenty to support that the SFET rally will continue.Video Link: https://www.youtube.com/embed/7fQeDbO2B80An Impressive Sum Of Its PartsGrowth is the driving factor. In its Q3 earnings report, SFET noted that NetNut has doubled its usage volume and processed over 36 billion customer requests over a comparative monthly period. Growth was attributed to the onboarding of several strategic customers and integrations facilitating NetNut's network ability to process billions of requests compared to prior periods. While impressive, another takeaway was commenting suggesting that SFET expects more client acquisitions, a result of them becoming better acquainted with NetNut's ability to improve price comparison capabilities, provide users with seamless and competitive business analysis, and, most importantly, increase productivity.Still, while NetNut may be earning recent headlines, there's plenty more contributing to SFET's record-setting growth. In fact, SFET enjoys revenues from three business segments: enterprise privacy solutions, consumer cyber-security and privacy solutions, and enterprise cyber-security solutions. They not only offer specific client solutions, but they also diversify SFET's revenue streams.Its cybersecurity and privacy solutions for basic and advanced consumers provide a substantial security blanket against ransomware, viruses, phishing, and other online threats. It also provides users with a robust, secure, and encrypted connection, masking their online activity and keeping them safe from hackers.A second segment, privacy solutions for enterprises, is powered by the world's fastest and most highly secured proxy network that enables customers to anonymously collect data at any scale from any public source over the web using a unique hybrid network. In addition, the SFET network comprises both entry and exit points based on its proprietary reflection technology, leveraging the power of hundreds of optimally designed servers located at ISP partners worldwide that help guarantee the service's privacy, quality, stability, and speed.A third value driver, enterprise cybersecurity solutions, is available through its reseller, TerraZone Ltd., a global information security provider. These solutions are designed for the cloud, on-premises, and hybrid networks and mitigate attacks on enterprises' business-critical services and sensitive data. They also ensure uninterrupted business continuity by protecting data access, storage and exchange breaches, and threats from both within and outside the organization by utilizing a "validate first, access later" philosophy.These assets aren't only showing opportunity; they are delivering record-setting results that industry behemoths like Rapid7, Inc. (NASDAQ: RPD), Palo Alto Networks (NASDAQ: PANW), and Fortinet (NASDAQ: FTNT) can't keep pace with.Record Revenues And Consecutive Quarterly GrowthNoted above, SFET reported record-setting growth in Q3. Revenues for the three months ending September 30, 2022, reached a record $4,812,000, 42% higher than last year. Even more impressive is that on a nine-month comparison, SFET assets combined to deliver a more than 109% increase in comparative revenues to $13,610,000. Both measures exceeded guidance. But perhaps more importantly, those revenues are falling faster to the bottom line.Gross profit for the nine months surged by 143% to $7,360,000 over last year's comparable. And for the three months ending September 30, gross profit scored $2,627,000, 47% higher than the previous year's period. While those numbers are historical, the excellent news for those appraising the forward-looking SFET value proposition is that aggressive reductions in non-accretive operating expenses are expected to provide a tailwind into Q4, setting up 2023 for record-setting performances and consecutive quarterly growth to continue.Analysts are bullish. In fact, the two covering SFET stock have a median 12-month price target of $5.50, more than 103% higher than current levels. After completing a 1:10 split that leaves only about 3.26 million shares outstanding post-transaction, and with confirmation by SFET that its growth trajectory is strengthening - like the news last week - even those bullish price targets could prove conservative on a revenue multiple bases.Record Revenues Through Innovative StrategyThat, too, is likely, noting that SFET's recent financials contributed to its aggregating seven consecutive quarters of revenue growth. That achievement is especially impressive, knowing that expansion has come during some of the most turbulent and challenging times of business history, with pandemic-related issues closing many global economies, disrupting corporate spending, and limiting supply channels. Despite that, SFET navigated its business terrain successfully, delivering consistent operational progress, successfully financing its operations, and facilitating growth through a non-dilutive credit line from a leading Israeli bank and a strategic revenue-share model financing from an industry expert.The arrangement is proving beneficial to shareholders and lenders, with the non-dilutive funding more than attractive from an SFET stock investors perspective but to financiers too, which, following their own validations, invest in the purchase of consumers (a future asset being customers). That asset, of course, is expected to deliver a consistent, leveraged, and high return on investment. So far, the deals made are win-win propositions. Recent funding through this model allowed SFET to invest $1.2 million in customer acquisition, providing growth for itself and already returning 20% of the investment.Similar results are expected. With the non-dilutive financing strategy accretive to company growth and attractive to investors on an ROI basis, SFET has been able to guide that future deals could fuel appreciable growth to near and long-term revenues. If that's the case, analyst price targets will likely need to be revised, and with the bullish setup into Q4 and 2023, they will assumably model higher.Set For Success In Q4 And In 2023That expectation is more than warranted; it's justified. In fact, SFET has provided evidence showing it is in its best position ever to capitalize on and maximize near and long-term revenue-generating opportunities. And they aren't keeping it a secret.After its impressive Q3 financials, SFET provided updates highlighting organic growth and the ability to capitalize on its strengthening momentum. That momentum is strong, too, as demonstrated by its enterprise privacy business turning profitable and scoring three months of record-setting numbers. Following that update, recent news about NetNut, and its CyberKick subsidiary performing better than expected, it's clear that SFET is firing on all cylinders operationally.Moreover, SFET is well-capitalized to expedite its strategic initiatives. At the end of September, SFET's cash position totaled about $3.86 million, representing about $0.48 per ADS outstanding. And that cash balance excluded an additional $4.3 million from its recently secured credit facility and investor's financing.Thus, while SFET has a full slate of opportunities in its crosshairs, knowing they have the capital to exploit them is an inherent bonus to the SFET value proposition. In other words, the valuation disconnect between SFET stock and company performance may be exposing a gap too wide to ignore. But here's the deal- those paying attention to what Safe-T Group is saying and, more importantly, doing, aren't. And that could lead to another leg higher in an already impressive rally.Many will agree, deservedly so.Disclaimers: Shore Thing Media, LLC. (STM, Llc.) is responsible for the production and distribution of this content. STM, Llc. is not operated by a licensed broker, a dealer, or a registered investment adviser. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. Our reports/releases are a commercial advertisement and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The information made available by STM, Llc. is not intended to be, nor does it constitute, investment advice or recommendations. The contributors may buy and sell securities before and after any particular article, report and publication. In no event shall STM, Llc. be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or made available by STM, Llc., including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information in this video, article, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. STM, Llc. strongly urges you conduct a complete and independent investigation of the respective companies and consideration of all pertinent risks. Readers are advised to review SEC periodic reports: Forms 10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D. For some content, STM, Llc., its authors, contributors, or its agents, may be compensated for preparing research, video graphics, and editorial content. STM, LLC has been compensated up to ten-thousand-dollars cash via wire transfer by a third party to produce and syndicate content for Safe-T Group, Ltd.. for a period of five weeks. As part of that content, readers, subscribers, and website viewers, are expected to read the full disclaimers and financial disclosures statement that can be found on our website.The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled.Media ContactCompany Name: STM, LLC.Contact Person: Michael ThomasEmail: contact@primetimeprofiles.comPhone: 917-773-0072Country: United StatesWebsite: https://primetimeprofiles.com/.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/FTNT/2023.01.10/Fortinet : Understanding the MSSP Business and Vendor Relationship.txt b/news/FTNT/2023.01.10/Fortinet : Understanding the MSSP Business and Vendor Relationship.txt new file mode 100644 index 0000000000000000000000000000000000000000..af34ef7f96fa8a5df68fdc775d4e07cc0676eb78 --- /dev/null +++ b/news/FTNT/2023.01.10/Fortinet : Understanding the MSSP Business and Vendor Relationship.txt @@ -0,0 +1,71 @@ + + + When Managed Security Service Providers (MSSP) evaluate a cybersecurity vendor, they usually start by reviewing the technology offerings. The vendor's technologies often drive the MSSP's business model and ability to respond to client needs. Technology is the core concern for many MSSPs. However, focusing solely on technology ignores the other two parts of a robust cybersecurity program. The people that use technology need processes that streamline their daily tasks. + + + What is an MSSP business? + + + A Managed Security Service Provider (MSSP) offers security device management and continuous monitoring using a collection of technologies that enable them to provide: + + + + Networking capabilities, like Software-defined Wide Area Networking (SD-WAN) + + +Security Operations Center (SOC) services + + + Security capabilities like Next Generation Firewalls (NGFW) or Web Application Firewalls (WAF) + + + Security analytics + + + Threat intelligence + + + And more. + + + + Companies looking for a cost-effective way to enhance their security posture work with MSSPs to migrate some or all of their cybersecurity risk, and overcome the cybersecurity skills gap. + + + The Importance of the MSSP Business-Vendor Relationship + + + While many MSSPs focus on cybersecurity technology capabilities, they should remember that their customers come to them for services. Too often, MSSPs view their vendor relationship as a transactional agreement focused on products. However, when they incorporate cybersecurity vendor experience they can build a relationship that enables long-term business success. + + + MSSPs should treat conversations with their sales engineers the same way they would treat potential employees during a job interview. The sales engineers should be able to understand and articulate the MSSP's: + + + +Business objectives: how their technologies enable the MSSP to meet long and short term business goals + + +Metrics their customers use: what the MSSP's ideal customer needs to understand security posture and maturity + + +Way the customer defines success: how customers determine whether the MSSP is helping them achieve their security goals + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fortinet Inc. published this content on 10 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2023 16:43:15 UTC. + + diff --git a/news/FTNT/2023.01.11/Fortinet Recognized by Glassdoor as One of the 2023 Best Places to Work in the United S...txt b/news/FTNT/2023.01.11/Fortinet Recognized by Glassdoor as One of the 2023 Best Places to Work in the United S...txt new file mode 100644 index 0000000000000000000000000000000000000000..7a6c8695f68df7152275cce3f0a2a8c4c5588b6f --- /dev/null +++ b/news/FTNT/2023.01.11/Fortinet Recognized by Glassdoor as One of the 2023 Best Places to Work in the United S...txt @@ -0,0 +1 @@ +SUNNYVALE, Calif., Jan. 11, 2023 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ: FTNT), a global leader in broad, integrated and automated cybersecurity solutions, has won a Glassdoor Employees’ Choice Award, recognizing the Best Places to Work in 2023. This recognition is entirely based on the voluntary input of employees about their workplace experience on Glassdoor, the worldwide leader on insights about jobs and companies.“We are honored to be included in Glassdoor's Best Places to Work list in the United States,” said Ken Xie, Founder, Chairman of the Board, and Chief Executive Officer at Fortinet. “For over 20 years, we have been committed to a culture of innovation driven by openness and teamwork, as a way to empower our employees so they can thrive and grow in their careers at Fortinet and in cybersecurity. This award recognizes our employees who are the core part of Fortinet’s continued growth and success.”Winners are ranked based on their overall rating achieved during the past year through Glassdoor’s employee reviews covering career opportunities, compensation and benefits, culture and values, diversity and inclusion, senior management and work/life balance. Fortinet currently has an overall 4.2 rating from 1,900+ reviews.As a leader in cybersecurity, Fortinet’s mission is to protect people, devices, and data everywhere. Fortinet employees contribute to this mission, playing a crucial role in helping make the world a safer place. To learn more about opportunities available at Fortinet, visit the company’s career page here.Additional ResourcesAbout FortinetFortinet (NASDAQ: FTNT) makes possible a digital world that we can always trust through its mission to protect people, devices, and data everywhere. This is why the world’s largest enterprises, service providers, and government organizations choose Fortinet to securely accelerate their digital journey. The Fortinet Security Fabric platform delivers broad, integrated, and automated protections across the entire digital attack surface, securing critical devices, data, applications, and connections from the data center to the cloud to the home office. Ranking #1 in the most security appliances shipped worldwide, more than 615,000 customers trust Fortinet to protect their businesses. And the Fortinet NSE Training Institute, an initiative of Fortinet’s Training Advancement Agenda (TAA), provides one of the largest and broadest training programs in the industry to make cyber training and new career opportunities available to everyone. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.FTNT-OCopyright © 2022 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCWP, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFone, FortiGSLB, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMoM, FortiMonitor, FortiNAC, FortiNDR, FortiPenTest, FortiPhish, FortiPlanner, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM and FortiXDR. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.2023 GlobeNewswire, Inc., source Press Releases - Canada \ No newline at end of file diff --git a/news/FTNT/2023.01.12/Fortinet Continues to Bring Together Cybersecurity Leaders at AT&T Pebble Beach Pro-Am ...txt b/news/FTNT/2023.01.12/Fortinet Continues to Bring Together Cybersecurity Leaders at AT&T Pebble Beach Pro-Am ...txt new file mode 100644 index 0000000000000000000000000000000000000000..1aa81c0a8b02fb0701a2e3836879ed810424b0a4 --- /dev/null +++ b/news/FTNT/2023.01.12/Fortinet Continues to Bring Together Cybersecurity Leaders at AT&T Pebble Beach Pro-Am ...txt @@ -0,0 +1 @@ +SUNNYVALE, Calif., Jan. 12, 2023 (GLOBE NEWSWIRE) -- John Maddison, EVP of Products and CMO at Fortinet“Cybersecurity business leaders are looking for new ideas and insights from peers and industry experts to help further protect their organizations. To help facilitate this, Fortinet is once again bringing together our community of elite customers, partners, executives, and global industry experts to drive conversations on solutions for the industry’s biggest challenges. As part of our upcoming AT&T Pebble Beach Pro-Am participation, we look forward to building on the success of our recent Security Summit through another exceptional event experience leading up to the 2023 Fortinet Championship.”News Summary Fortinet® (NASDAQ: FTNT), a global leader in broad, integrated and automated cybersecurity solutions, is bringing together cybersecurity and golf leaders, customers, and partners as part of the company’s participation in the AT&T Pebble Beach Pro-Am through Fortinet’s PGA TOUR partnership.The Drive to the Fortinet Championship Fortinet stands for more than just technology innovation. The company’s dedication to partnerships includes a commitment to providing organizations unique opportunities to have access to trusted advisors and industry leaders. Through events surrounding the PGA TOUR, Fortinet is connecting top technology leaders and experts to have relevant and timely conversations on cybersecurity trends and topics affecting organizations globally. Fortinet is enabling our customers and partners to find solutions to better manage cyber risks for their organizations.The AT&T Pebble Beach Pro-Am is one of many events happening across the United States tied to PGA TOUR events throughout the year. Fortinet’s customers and partners will gather surrounding the AT&T Pebble Beach Pro-Am to connect with other cybersecurity experts and further learn about Fortinet’s leading cybersecurity technology, including key areas such as zero trust network access (ZTNA), SD-WAN and more.The culmination of Fortinet’s customer and partner events tied to the PGA TOUR happens at the Fortinet Security Summit during the Fortinet Championship in Napa, California September 11-17, 2023. The Fortinet Championship brings together not only expert golf players, but also technology’s most influential thought leaders, executives, and industry pioneers, ranging from leading technology business founders, executives at global Fortune 100 companies across various sectors, cybersecurity leaders from public and private sector, government leaders and more.Stay up to date on the Drive to the Championship events here.Additional ResourcesAbout FortinetFortinet (NASDAQ: FTNT) makes possible a digital world that we can always trust through its mission to protect people, devices, and data everywhere. This is why the world’s largest enterprises, service providers, and government organizations choose Fortinet to securely accelerate their digital journey. The Fortinet Security Fabric platform delivers broad, integrated, and automated protections across the entire digital attack surface, securing critical devices, data, applications, and connections from the data center to the cloud to the home office. Ranking #1 in the most security appliances shipped worldwide, more than 615,000 customers trust Fortinet to protect their businesses. And the Fortinet NSE Training Institute, an initiative of Fortinet’s Training Advancement Agenda (TAA), provides one of the largest and broadest training programs in the industry to make cyber training and new career opportunities available to everyone. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.FTNT-OCopyright © 2022 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCWP, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFone, FortiGSLB, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMoM, FortiMonitor, FortiNAC, FortiNDR, FortiPenTest, FortiPhish, FortiPlanner, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM and FortiXDR. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git "a/news/FTNT/2023.01.14/Fortinet : Supply Chain Attack Using Identical PyPI Packages, \342\200\234colorslib\342\200\235, &ld...txt" "b/news/FTNT/2023.01.14/Fortinet : Supply Chain Attack Using Identical PyPI Packages, \342\200\234colorslib\342\200\235, &ld...txt" new file mode 100644 index 0000000000000000000000000000000000000000..da0a28de8b376864757573d337f9a18c8645cd17 --- /dev/null +++ "b/news/FTNT/2023.01.14/Fortinet : Supply Chain Attack Using Identical PyPI Packages, \342\200\234colorslib\342\200\235, &ld...txt" @@ -0,0 +1,22 @@ + + + The FortiGuard Labs team has discovered a new 0-day attack embedded in three PyPI packages (Python Package Index) called 'colorslib', 'httpslib', and "libhttps". They were found on January 10, 2023, by monitoring an open-source ecosystem. The Python packages "colorslib" and "httpslib" were published on January 7, 2023, and "libhttps" was published on January 12, 2023. All three were published by the same author, 'Lolip0p', as shown in the official PyPI repository. 'Lolip0p' joined the repository close to the publish date. + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fortinet Inc. published this content on 14 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2023 19:09:02 UTC. + + diff --git a/news/FTNT/2023.01.26/Fortinet : FortiGuard Outbreak Alerts- 2022 Annual Report.txt b/news/FTNT/2023.01.26/Fortinet : FortiGuard Outbreak Alerts- 2022 Annual Report.txt new file mode 100644 index 0000000000000000000000000000000000000000..443bce1e9eb13519ff86bc1947ed30b1e2180ee0 --- /dev/null +++ b/news/FTNT/2023.01.26/Fortinet : FortiGuard Outbreak Alerts- 2022 Annual Report.txt @@ -0,0 +1,45 @@ + + + Outbreaks have been a continued and critical element of 2022-no, not that type of outbreak. We're talking about FortiGuard Outbreak Alerts. + + + FortiGuard Outbreak Alerts + + + During the SolarWinds Orion supply chain attack at the end of 2020, a number of our customers asked us to help them determine whether their Fortinet solutions had protected them against its multiple attack vectors, malware, resulting lateral movement, and command and control activity. While all of this information existed, we wanted to make it more readily available for customers. So, to help our customers more rapidly determine whether they had been protected against an attack and to better enable rapid threat hunting to identify Indicators of Compromise (IoCs) across their network, we developed the FortiGuard Outbreak Alerts and corresponding FortiGuard Outbreak Detection Service. + + + In the years since, we have enhanced this service to include the following: + + + + Coverage of the entire Fortinet Security Fabric. + + + Alignment with the five functions of the NIST Cybersecurity Framework (CSF): Identify, Protect, Detect, Respond, and Recover. + + + Mapping attacks to MITRE ATT&CK threat model, whereby each outbreak is analyzed by FortiGuard Labs to provide a comprehensive view of the tactics and techniques employed by threat actors. + + + + These enhancements enable customers to react quickly to emerging outbreaks with factual, actionable intelligence. + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fortinet Inc. published this content on 26 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2023 17:12:07 UTC. + + diff --git a/news/FTNT/2023.01.30/Fortinet Expands its Services and Training Offerings to Further Support SOC Teams in Pr...txt b/news/FTNT/2023.01.30/Fortinet Expands its Services and Training Offerings to Further Support SOC Teams in Pr...txt new file mode 100644 index 0000000000000000000000000000000000000000..3b3c74608a3a6f18738eecadd468d6a20942108a --- /dev/null +++ b/news/FTNT/2023.01.30/Fortinet Expands its Services and Training Offerings to Further Support SOC Teams in Pr...txt @@ -0,0 +1 @@ +Multi-Faceted Approach Accelerates Fortinet’s Global Commitment to Eliminate the Cybersecurity Skills GapSUNNYVALE, Calif., Jan. 30, 2023 (GLOBE NEWSWIRE) -- John Maddison, EVP of Products and CMO at Fortinet“Fortinet builds ML-driven automation into all of its SOC offerings to support short-staffed teams affected by the cybersecurity skills shortage. But technology alone won’t solve this issue, which is why we are dedicated to also delivering human-based SOC augmentation services to provide immediate support, while investing in an industry-leading training institute to close the cybersecurity skills gap. This combination of technology, services, and training enables SOC professionals to better protect their organizations from detection to incident recovery.”News Summary Fortinet® (NASDAQ: FTNT), a global leader in broad, integrated, and automated cybersecurity solutions, today announced new security operations center (SOC) augmentation services designed to help strengthen an organization’s cyber resiliency and support short-staffed teams strained by the talent shortage. In addition, as part of Fortinet’s leadership efforts to help close the cyber skills gap, the Fortinet Training Institute has added initiatives across its programs to further increase access to its industry-recognized training and certifications.Cybersecurity Skills Shortage Prompts a New Approach The prevailing talent shortage remains one of the top challenges facing SOC teams globally. Fortinet’s 2022 Cybersecurity Skills Gap report found that 50% of global leaders cite security operations as one of the most challenging roles to fill, and 42% are still in need of security operations analysts. Additionally, the same Fortinet survey found that worldwide, 80% of organizations suffered one or more breaches due to a lack of cybersecurity skills and awareness.A lack of resources and personnel, combined with the sheer volume of security alerts SOC teams receive per day, often results in missed detections and slower responses that increase exposure to cyber risk. SOC teams require an immediate solution to mitigate these challenges through investment in automated and integrated SOC and cybersecurity technologies and experienced professionals to better protect against threats.New and Enhanced SOC Augmentation Services Provide Immediate Support for Short-Staffed Security Operations Teams Committed to helping organizations overcome these obstacles, Fortinet’s new and enhanced services help SOC teams reduce their organizations’ cyber risk while freeing up their time to focus on higher-priority projects. These updates include:Expanding Cyber Skills Through the Fortinet Training InstituteWhile the new and enhanced SOC augmentation services provide immediate relief to strained teams, a long-term investment in continued learning and advancing cyber skills is just as critical to keep up with the ever-changing threat landscape. As part of Fortinet’s longstanding commitment to eliminate the skills gap, the Fortinet Training Institute offers award-winning, multi-level training and certifications to security professionals seeking to advance and upskill their knowledge in key cybersecurity areas. These programs also help untap new talent pools to help build the cyber workforce of the future, with a focus on providing training opportunities for women, veterans, students, and underserved populations. Some recent updates across programs include:Through these initiatives, Fortinet is progressing toward the company’s pledge to train 1 million people in cybersecurity by 2026. Additionally, Fortinet’s new and enhanced SOC augmentation services build on its expansive services portfolio backed by FortiGuard Labs. With today’s announcement, Fortinet remains committed to alleviating the challenges associated with the cybersecurity talent shortage by helping organizations better manage cyber risks with ML-driven automation, services, and increased access to training.Additional ResourcesAbout FortinetFortinet (NASDAQ: FTNT) makes possible a digital world that we can always trust through its mission to protect people, devices, and data everywhere. This is why the world’s largest enterprises, service providers, and government organizations choose Fortinet to securely accelerate their digital journey. The Fortinet Security Fabric platform delivers broad, integrated, and automated protections across the entire digital attack surface, securing critical devices, data, applications, and connections from the data center to the cloud to the home office. Ranking #1 in the most security appliances shipped worldwide, more than 615,000 customers trust Fortinet to protect their businesses. And the Fortinet NSE Training Institute, an initiative of Fortinet’s Training Advancement Agenda (TAA), provides one of the largest and broadest training programs in the industry to make cyber training and new career opportunities available to everyone. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.FTNT-OCopyright © 2023 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCWP, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFone, FortiGSLB, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMoM, FortiMonitor, FortiNAC, FortiNDR, FortiPenTest, FortiPhish, FortiPlanner, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM and FortiXDR. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments. © OMX, source GlobeNewswire - EU Press Releases \ No newline at end of file diff --git a/news/FTNT/2023.02.01/Fortinet : Building Collaboration and Community Through Unique Golf Experiences.txt b/news/FTNT/2023.02.01/Fortinet : Building Collaboration and Community Through Unique Golf Experiences.txt new file mode 100644 index 0000000000000000000000000000000000000000..7dbac4568e7df988c65d97c601dda37cab1d07ce --- /dev/null +++ b/news/FTNT/2023.02.01/Fortinet : Building Collaboration and Community Through Unique Golf Experiences.txt @@ -0,0 +1,68 @@ + + + Fortinet stands for more than just technology innovation. In addition to Fortinet's leading technology, services, and training, to help organizations overcome big challenges, Fortinet regularly connects top technology leaders and experts to have relevant and timely conversations on cybersecurity trends and topics. The company does this by providing organizations with unique opportunities to access trusted advisors and industry leaders through exceptional events and unique experiences. Fortinet is also committed to its Corporate Social Responsibility work, which includes community engagement and giving efforts. + + + Fortinet upholds these commitments through its various golf partnerships, including the PGA TOUR Official Event partnership at the Fortinet Championship, multiple brand ambassadors across the PGA and LPGA Tour, and technology-driven activations across tournaments globally. Fortinet brings together customers, partners, and other cyber leaders surrounding these events to exchange thought leadership, develop industry opportunities, and drive donations to local communities through tournament partnerships. + + +Global Experiences Bring Cybersecurity Leaders Together + + + In-person discussions foster the exchange of ideas and solutions that help organizations develop more robust security strategies to manage cyber risks-in addition to offering a fun and engaging environment through these face-to-face conversations. Fortinet achieves this across its entire portfolio of global golf partnerships from tournaments to brand ambassadors. + + + For the past two years, Fortinet has been the title sponsor of the PGA TOUR's annual Fortinet Championship held in Napa Valley, California, with the next championship scheduled for September 2023. Fortinet also hosts a best-in-class Security Summit and Tech Expo in parallel, bringing together the Fortinet community of elite customers, partners, executives, and global industry experts for two days of keynotes, panels, and roundtable discussions. Additionally, the Drive to the Championship events surrounding the PGA TOUR, including the AT&T Pebble Beach Pro-Am, culminate with the Fortinet Security Summit during the Fortinet Championship. + + + Fortinet is also a title sponsor of the Fortinet Australian PGA Championship and a season-long sponsor of the PGA TOUR Canada's Fortinet Cup Championship. Last year, the company was also an official cybersecurity partner for two LPGA events: the BMW Ladies Championship in Wonju, South Korea, and the Kroger Queen City Championship in Cincinnati, Ohio. In addition to also being the Official Cybersecurity Partner of the DP World Tour, Fortinet technology is being deployed during tournaments across Europe, Africa, and Asia to secure data and provide real-time insight into the network. + + + Fortinet EVP of Products and CMO John Maddison shares, "Fortinet is bringing together more than just golf experts at these events-we're building and connecting a community of cyber leaders. These collaborative experiences that our golf partnerships provide are invaluable opportunities for our customers and partners to further strengthen their security strategies for their organizations. There are also many synergies between cybersecurity and golf, including that golf champions like Fortinet brand ambassadors Andrea Lee, Max Homa, and David Lipsky have had to effectively manage risks and face extreme challenges to stay at the top of their game similar to the uncertainty and risk management CISOs deal with to protect their organizations successfully." + + +Contributing to the Communities We Serve + + + Fortinet's golf partnerships also allow us to further our commitment to enhancing the local communities in which our employees, customers, and partners live and work. As part of Fortinet's Corporate Social Responsibility (CSR) efforts, we invest the proceeds from our golf sponsorships and donate them to local organizations and nonprofits. + + + In the United States, proceeds from the Fortinet Championship, held annually in Napa Valley, California, are donated to local organizations focused on helping the local community, women, and veterans and increasing access to STEM education, including cybersecurity training. In Canada, proceeds from the Fortinet Cup benefit nonprofit associations dedicated to helping underprivileged children through the Corey and Malory Connors Family Fund. And in Australia, the funds raised in conjunction with Fortinet's Australian PGA Championship are donated to the Jarrod Lyle Foundation, which supports children with cancer and their families. + + +Supporting the Advancement of Women in Cybersecurity + + + Through our LPGA-sponsored events, Fortinet is further able to support the advancement of women in their careers, which is a key cornerstone of our CSR approach. It's no secret that the lack of gender diversity in cybersecurity is a worldwide issue; women only make up 25% of the global cybersecurity workforce today. And according to Fortinet's 2022 Cybersecurity Skills Gap Global Report, 70% of organizations find hiring women among their top three challenges. + + + Proceeds from our golf events are donated to a number of nonprofits focused on supporting women. Additionally, Fortinet sponsors two LPGA players-Alison Lee and Andrea Lee-and two female Stanford University student-athletes, Rose Zhang and Rachel Heck. These sponsorships align with the company's commitment to supporting the advancement of women in their professions and fostering greater inclusivity and diversity. + + + Additionally, expanding our existing partnership with the AJGA as the Official Diversity & Inclusion/STEM Education Partner, Fortinet has announced the inaugural Fortinet Girls Invitational happening February 17-20, 2023 at Stanford University's Golf Course for top female amateur golfers. + + +Strong Cybersecurity Requires Collaboration and Community + + + As organizations look to address a myriad of cybersecurity challenges, in addition to providing leading technology, Fortinet is providing security professionals the ability to gain new ideas from peers and industry experts to further protect their organizations through global golf sponsorship gatherings. By challenging existing knowledge through such conversations and interactions, organizations can help our industry to improve multiple issues ranging from the cyber skills gap, to disrupting cybercrime, and more. + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fortinet Inc. published this content on 01 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2023 14:07:02 UTC. + + diff --git a/news/FTNT/2023.02.01/Fortinet Furthers Support for Women Career Advancement with the AJGA's Fortinet Girls I...txt b/news/FTNT/2023.02.01/Fortinet Furthers Support for Women Career Advancement with the AJGA's Fortinet Girls I...txt new file mode 100644 index 0000000000000000000000000000000000000000..bd28362cbf2e2aecb9a4386142f25af20d16ec24 --- /dev/null +++ b/news/FTNT/2023.02.01/Fortinet Furthers Support for Women Career Advancement with the AJGA's Fortinet Girls I...txt @@ -0,0 +1 @@ +SUNNYVALE, Calif., Feb. 01, 2023 (GLOBE NEWSWIRE) -- John Maddison, EVP of Products and CMO at Fortinet“The Fortinet Girls Invitational expands the opportunities we are providing women at varying levels of their golf career, ranging from AJGA amateur players to LPGA champions, as part of our Corporate Social Responsibility efforts to foster diversity and inclusion. Within our field, Fortinet is also doing this by providing training and other resources for women either looking to start a career in cyber or pursuing growth opportunities through the Fortinet Training Institute programs and other CSR initiatives.”News Summary Fortinet® (NASDAQ: FTNT), a global leader in broad, integrated, and automated cybersecurity solutions, today announced the inaugural American Junior Golf Association’s (AJGA) Fortinet Girls Invitational happening February 17-20, 2023 at Stanford University’s Golf Course.Expanding its existing partnership with the AJGA as the Official Diversity & Inclusion/STEM Education Partner, this tournament for top women amateur golfers further builds on Fortinet’s efforts to promote diversity and inclusion by fostering opportunities for women at various levels in their career. As part of these efforts, Fortinet also supports its ambassadors Rose Zhang and Rachel Heck, two Stanford University student athletes, as well as its LPGA brand ambassadors Alison Lee and Andrea Lee across various LPGA Tour tournaments. Additionally, the company was the Official Cybersecurity Partner for the LPGA’s BMW Ladies Championship in Wonju, South Korea, and the Kroger Queen City Championship in Cincinnati, Ohio last year.Fortinet’s Initiatives to Attract and Retain More Women in CyberIn cybersecurity, women make up an estimated 24% of the workforce. At the same time, there is a global shortage of 3.4 million workers in cybersecurity. Fortinet is committed to fostering more diversity and inclusivity in the industry and to helping close the cyber skills gap by creating more opportunities for women to enter the field and grow in their careers.Through its Corporate Social Responsibility (CSR) approach and Fortinet Training Institute programs, Fortinet is progressing on these efforts by:Supporting Quote“Seeing Fortinet’s commitment to supporting women in their career development is motivating and makes me proud to represent the company as a brand ambassador. It’s exciting to see the Fortinet Invitational bringing together top amateur female golfers at Stanford where I’m currently a student and as a former AJGA Player of the Year.” - Rose Zhang, student athlete at Stanford University“By partnering with Fortinet, we’ll be able to further carry out our mission of offering mentorship, networking, support and representation to Latina cybersecurity professionals. Having access to the Fortinet Training Institute’s award-winning curriculum will help expand our members’ cybersecurity skill sets and validate their knowledge to help propel their career development. Together with Fortinet, we look forward to building a more inclusive and equitable community for women pursuing or already in cybersecurity.”-Vanessa Morales, Executive Director at Latinas in Cyber (LAIC)Additional ResourcesAbout FortinetFortinet (NASDAQ: FTNT) makes possible a digital world that we can always trust through its mission to protect people, devices, and data everywhere. This is why the world’s largest enterprises, service providers, and government organizations choose Fortinet to securely accelerate their digital journey. The Fortinet Security Fabric platform delivers broad, integrated, and automated protections across the entire digital attack surface, securing critical devices, data, applications, and connections from the data center to the cloud to the home office. Ranking #1 in the most security appliances shipped worldwide, more than 615,000 customers trust Fortinet to protect their businesses. And the Fortinet NSE Training Institute, an initiative of Fortinet’s Training Advancement Agenda (TAA), provides one of the largest and broadest training programs in the industry to make cyber training and new career opportunities available to everyone. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.FTNT-OCopyright © 2023 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCWP, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFone, FortiGSLB, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMoM, FortiMonitor, FortiNAC, FortiNDR, FortiPenTest, FortiPhish, FortiPlanner, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM and FortiXDR. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments. 2023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/FTNT/2023.02.06/Fortinet Unveils New ASIC to Accelerate the Convergence of Networking and Security Acro...txt b/news/FTNT/2023.02.06/Fortinet Unveils New ASIC to Accelerate the Convergence of Networking and Security Acro...txt new file mode 100644 index 0000000000000000000000000000000000000000..be4d08e02a6a695c5a5bbd145b534f497fd0eda3 --- /dev/null +++ b/news/FTNT/2023.02.06/Fortinet Unveils New ASIC to Accelerate the Convergence of Networking and Security Acro...txt @@ -0,0 +1 @@ +Fifth-generation security processing unit (FortiSP5) delivers unparalleled levels of power-efficient performance to open new frontiers for securing the branch, campus, 5G, edge compute, operational technologies, and moreSUNNYVALE, Calif., Feb. 06, 2023 (GLOBE NEWSWIRE) -- Ken Xie, Founder, Chairman of the Board, and Chief Executive Officer at Fortinet “With the introduction of FortiSP5, Fortinet once again sets new industry records for performance, cost, and energy efficiency. As the only cybersecurity vendor leveraging purpose-built ASICs, an over 20-year investment in innovation, Fortinet delivers the secure computing power that will support the next generation of secure infrastructure.”News Summary Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced FortiSP5, the latest breakthrough in ASIC technology from Fortinet, propelling major leaps forward in securing distributed network edges. Building on over 20 years of ASIC investment and innovation from Fortinet, FortiSP5 delivers significant secure computing power advantages over traditional CPU and network ASICs, lower cost and power consumption, the ability to enable new secure infrastructure across branch, campus, 5G, edge compute, operational technologies, and more.Unparalleled Innovation in Custom Chip Performance With an application-specific design and embedded multi-core processors to accelerate the convergence of networking and security functions, FortiSP5 delivers:Significant Cost and Energy SavingsAs a fifth-generation 7-nanometer chip, FortiSP5 packs more capabilities in a smaller form factor to deliver:Supporting More Applications to Enable Important Customer Use Cases With the ability to accelerate and concurrently run 2x more applications—for example, NGFW, zero-trust network access (ZTNA), SD-WAN, and SSL inspection—compared to the previous generation, FortiSP5 will support use cases such as:Proven System on a Chip TechnologyFortiSP5 will power the next generation of entry and mid-range FortiGate firewalls being released later this year. Now on its fifth generation, we believe Fortinet’s proprietary system on a chip technology has a proven track record of powering the industry’s top-performing products and solutions. A few examples include:Fortinet Supports Sustainability GoalsThe energy efficiency and performance per watt of FortiSP5 and the products that leverage the chip will help organizations reduce their power and space requirements. Fortinet remains committed to sustainable product innovation to ensure each generation of its products consumes less energy and is built sustainably.Today, Fortinet’s Sunnyvale headquarters is a net-zero emissions facility and plans for global operations to be completely carbon neutral by 2030. Fortinet was recently named to the 2022 Dow Jones Sustainability World and North America Indices as one of the top sustainable companies in the world, highlighting Fortinet’s commitment to achieving a sustainable society.Supporting Quote:“Enterprise applications and the users and devices that access them are more distributed than ever, which is causing organizations to rethink their edge network and security architectures. A key to enabling enterprise edge networking is having strong security without compromising on network performance and user experience. Fortinet has a 20-year history in ASIC technology that helps achieve these goals, and the company’s newest FortiSP5 continues that legacy. Fortinet’s portfolio of converged network and security solutions with custom chips helps enterprises accelerate their edge network and security transformation.” - Brandon Butler, Research Manager, Enterprise Networks at IDCAdditional Resources¹ Gartner, Magic Quadrant for Network Firewalls, Rajpreet Kaur, Adam Hils, Tom Lintemuth, 19 December 2022.² “The Total Economic Impact™ Of Fortinet Secure SD-WAN”, a commissioned study conducted by Forrester Consulting on behalf of Fortinet, December 2022.Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.About FortinetFortinet (NASDAQ: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere you need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet's solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. FortiGuard Labs, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.FTNT-OCopyright © 2023 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCWP, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFone, FortiGSLB, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMoM, FortiMonitor, FortiNAC, FortiNDR, FortiPenTest, FortiPhish, FortiPlanner, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM and FortiXDR. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments. Photos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/b9673851-40d7-43bf-ac10-84e91e9ae8dchttps://www.globenewswire.com/NewsRoom/AttachmentNg/120eb83a-9e03-414d-a5f8-d9037789e343© OMX, source GlobeNewswire - EU Press Releases \ No newline at end of file diff --git a/news/FTNT/2023.02.07/Fortinet : Q4 Earnings Snapshot.txt b/news/FTNT/2023.02.07/Fortinet : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..64b85608788aa79359f782d3d0df32e8fd053f2a --- /dev/null +++ b/news/FTNT/2023.02.07/Fortinet : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +SUNNYVALE, Calif. (AP) — SUNNYVALE, Calif. (AP) — Fortinet Inc. (FTNT) on Tuesday reported fourth-quarter profit of $313.8 million.The Sunnyvale, California-based company said it had profit of 40 cents per share. Earnings, adjusted for one-time gains and costs, were 44 cents per share.The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.The network security company posted revenue of $1.28 billion in the period, which fell short of Street forecasts. Thirteen analysts surveyed by Zacks expected $1.29 billion.For the year, the company reported profit of $857.3 million, or $1.06 per share. Revenue was reported as $4.42 billion.For the current quarter ending in March, Fortinet expects its per-share earnings to range from 27 cents to 29 cents.The company said it expects revenue in the range of $1.18 billion to $1.22 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.27 billion.Fortinet expects full-year earnings in the range of $1.39 to $1.41 per share, with revenue ranging from $5.37 billion to $5.43 billion.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTNT at https://www.zacks.com/ap/FTNTFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News \ No newline at end of file diff --git a/news/FTNT/2023.02.07/Fortinet : Q422 Earnings Announcement Presentation.txt b/news/FTNT/2023.02.07/Fortinet : Q422 Earnings Announcement Presentation.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d00e7bf39229b2bd804280e07226c286150c574 --- /dev/null +++ b/news/FTNT/2023.02.07/Fortinet : Q422 Earnings Announcement Presentation.txt @@ -0,0 +1,1487 @@ + + + + Q4 2022 Financial Results + + + February 7, 2023 + + + + + + Safe Harbor Statement + + + Information, statements and projections contained in these presentation slides and related conference call concerning Fortinet's business outlook, the first quarter and full year 2023 guidance, and future prospects and expectations are forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding any indications related to future market share gains, guidance and expectations around future financial results, including guidance and expectations for the first quarter and full year 2023, statements regarding the momentum in our business and future growth expectations, and any statements regarding our market opportunity and market size, and business momentum. Although we attempt to be accurate in making forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based such that actual results are materially different from our forward-looking statements in these presentation slides. Important factors that could cause results to differ materially from the statements herein include the following: general economic risks, including those caused by economic challenges, expectations of a recession or any actual recession, and the effects of increased inflation and interest rates in certain geographies or as a result of the COVID-19 pandemic and the war in Ukraine; supply chain challenges due to the current global environment; negative impacts from the COVID-19 pandemic on sales, billings, revenue, demand and buying patterns, component supply and ability to manufacture products to meet demand in a timely fashion, and costs such as possible increased costs for shipping and components; global economic conditions, country-specific economic conditions, and foreign currency risks; competitiveness in the security market; the dynamic nature of the security market and its products and services; specific economic risks worldwide and in different geographies, and among different customer segments; uncertainty regarding demand and increased business and renewals from existing customers; uncertainties around continued success in sales growth and market share gains; uncertainties in market opportunities and the market size; actual or perceived vulnerabilities in our supply chain, products or services, and any actual or perceived breach of our network or our customers' networks; longer sales cycles, particularly for larger enterprise, service providers, government and other large organization customers; the effectiveness of our salesforce and failure to convert sales pipeline into final sales; risks associated with successful implementation of multiple integrated software products and other product functionality risks; risks associated with integrating acquisitions and changes in circumstances and plans associated therewith, including, among other risks, changes in plans related to product and services integrations, product and services plans and sales strategies; sales and marketing execution risks; execution risks around new product development and introductions and innovation; litigation and disputes and the potential cost, distraction and damage to sales and reputation caused thereby or by other factors; cybersecurity threats, breaches and other disruptions; market acceptance of new products and services; the ability to attract and retain personnel; changes in strategy; risks associated with management of growth; lengthy sales and implementation cycles, particularly in larger organizations; technological changes that make our products and services less competitive; risks associated with the adoption of, and demand for, our products and services in general and by specific customer segments, including those caused by the COVID-19 pandemic; competition and pricing pressure; product inventory shortages for any reason, including those caused by the effects of increased inflation and interest rates in certain geographies, the COVID-19 pandemic and the war in Ukraine; risks associated with business disruption caused by natural disasters and health emergencies such as earthquakes, fires, power outages, typhoons, floods, health epidemics and viruses such as the COVID-19 pandemic, and by manmade events such as civil unrest, labor disruption, international trade disputes, international conflicts such as the war in Ukraine, terrorism, wars, and critical infrastructure attacks; tariffs, trade disputes and other trade barriers, and negative impact on sales based on geo-political dynamics and disputes and protectionist policies; any political and government disruption around the world, including the impact of any future shutdowns of the U.S. government; and the other risk factors set forth from time to time in our most recent Annual Report on Form 10-K, our most recent Quarterly Report on Form 10-Q and our other filings with the Securities and Exchange Commission ("SEC"), copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from our investor relations department. All forward-looking statements herein reflect our opinions only as of the date of these presentation slides, and we undertake no obligation, and expressly disclaim any obligation, to update forward-looking statements herein in light of new information or future events. + + + + + + © Fortinet Inc. All Rights Reserved. + + + + + 2 + + + + + + + + Q4 2022 Non-GAAP Results + + + + + + + + Q4'20 + + + + + Q1'21 + + + + + Q2'21 + + + + + Q3'21 + + + + + Q4'21 + + + + + Q1'22 + + + + + Q2'22 + + + + + Q3'22 + + + + + Q4'22 + + + + + + + Billings (1) + + + + + $960.9M + + + + + $850.6M + + + + + $960.9M + + + + + $1.064B + + + + + $1.306B + + + + + $1.160B + + + + + $1.304B + + + + + $1.411B + + + + + $1.719B + + + + + + + Y/Y % Change + + + + + 19.8% + + + + + 27.4% + + + + + 35.1% + + + + + 41.9% + + + + + 35.9% + + + + + 36.4% + + + + + 35.7% + + + + + 32.6% + + + + + 31.6% + + + + + + + Revenue + + + + + $748.0M + + + + + $710.3M + + + + + $801.1M + + + + + $867.2M + + + + + $963.6M + + + + + $954.8M + + + + + $1.030B + + + + + $1.150B + + + + + $1.283B + + + + + + + Y/Y % Change + + + + + 21.0% + + + + + 23.0% + + + + + 29.7% + + + + + 33.2% + + + + + 28.8% + + + + + 34.4% + + + + + 28.6% + + + + + 32.6% + + + + + 33.1% + + + + + + + Product Revenue + + + + + $288.4M + + + + + $240.7M + + + + + $298.3M + + + + + $337.1M + + + + + $378.9M + + + + + $371.0M + + + + + $400.7M + + + + + $468.7M + + + + + $540.1M + + + + + + + Y/Y % Change + + + + + 20.8% + + + + + 25.2% + + + + + 40.8% + + + + + 50.6% + + + + + 31.4% + + + + + 54.1% + + + + + 34.3% + + + + + 39.0% + + + + + 42.5% + + + + + + + Service Revenue + + + + + $459.6M + + + + + $469.6M + + + + + $502.8M + + + + + $530.1M + + + + + $584.7M + + + + + $583.8M + + + + + $629.4M + + + + + $680.8M + + + + + $742.9M + + + + + + + Y/Y % Change + + + + + 21.2% + + + + + 21.8% + + + + + 23.9% + + + + + 24.1% + + + + + 27.2% + + + + + 24.3% + + + + + 25.2% + + + + + 28.4% + + + + + 27.1% + + + + + + + + + Note + + + +Billings is a non-GAAP measure that we define as revenue recognized in accordance with GAAP plus the change in deferred revenue from the beginning to the end of the period less any deferred revenue balances acquired from business combination(s) and adjustment due to adoption of new accounting standard during the period. + + + + © Fortinet Inc. All Rights Reserved. + + + + + 3 + + + + + + + + Q4 2022 Non-GAAP Results + + + + + + Gross Profit (1) + + + Gross Margin (1) Operating Income (1)(2) Operating Margin (1)(2) + + + Net Income attributable to Fortinet, Inc. (1)(2)(3)(4)(5) Diluted Net Income per Share Attributable to + + +Fortinet, Inc. (1)(2)(3)(4)(5)(6) + + + Weighted Diluted Shares Used to Compute Net Income per Share Attributable to Fortinet, Inc. (6) + + + Deferred Revenue + + + Cash, Investments and Marketable Equity Securities(7) + + + Cash Paid for Stock Repurchases Days Sales Outstanding Inventory Turns + + + Headcount + + + Notes + + + + + + + + Q4'20 + + + + + Q1'21 + + + + + Q2'21 + + + + + Q3'21 + + + + + Q4'21 + + + + + Q1'22 + + + + + Q2'22 + + + + + Q3'22 + + + + + Q4'22 + + + + + + + $587.0M + + + + + $560.1M + + + + + $621.2M + + + + + $663.8M + + + + +$744.4M $710.2M $788.5M + + + + + $875.5M + + + + + $996.0M + + + + + + + 78.5% + + + + + 78.9% + + + + + 77.5% + + + + + 76.5% + + + + + 77.3% + + + + + 74.4% + + + + + 76.5% + + + + + 76.2% + + + + + 77.6% + + + + + + + $219.9M + + + + + $173.9M + + + + + $203.3M + + + + + $223.6M + + + + +$274.7M $210.2M $255.4M + + + + + $324.9M + + + + + $417.6M + + + + + + + 29.4% + + + + + 24.5% + + + + + 25.4% + + + + + 25.8% + + + + + 28.5% + + + + + 22.0% + + + + + 24.8% + + + + + 28.3% + + + + + 32.5% + + + + + + + $175.5M + + + + + $135.6M + + + + + $158.7M + + + + + $165.9M + + + + + $205.8M + + + + + $155.1M + + + + + $194.1M + + + + + $262.7M + + + + + $349.7M + + + + + + + $0.21 + + + + + $0.16 + + + + + $0.19 + + + + + $0.20 + + + + + $0.25 + + + + + $0.19 + + + + + $0.24 + + + + + $0.33 + + + + + $0.44 + + + + + + + 827.6M + + + + + 832.0M + + + + + 835.4M + + + + + 838.6M + + + + + 835.0M + + + + + 820.8M + + + + + 810.1M + + + + + 798.6M + + + + + 791.8M + + + + + + + $2.61B + + + + + $2.75B + + + + + $2.91B + + + + + $3.11B + + + + + $3.45B + + + + + $3.66B + + + + + $3.93B + + + + + $4.19B + + + + + $4.64B + + + + + + + $1.96B + + + + + $3.09B + + + + + $3.36B + + + + + $3.42B + + + + + $2.99B + + + + + $2.50B + + + + + $1.94B + + + + + $1.81B + + + + + $2.26B + + + + + + + $34.1M + + + + + - + + + + + $91.6M + + + + + $78.4M + + + + + $571.8M + + + + + $691.2M + + + + + $800.0M + + + + + $500.0M + + + + + - + + + + + + + 87 + + + + + 81 + + + + + 66 + + + + + 63 + + + + + 75 + + + + + 75 + + + + + 80 + + + + + 75 + + + + + 89 + + + + + + + 2.7 + + + + + 2.1 + + + + + 2.7 + + + + + 2.9 + + + + + 2.7 + + + + + 3.5 + + + + + 3.1 + + + + + 3.4 + + + + + 2.8 + + + + + + + 8,238 + + + + + 8,615 + + + + + 9,043 + + + + + 9,663 + + + + + 10,195 + + + + + 10,860 + + + + + 11,508 + + + + + 12,091 + + + + + 12,595 + + + + + + + + + +Excludes stock-based compensation and amortization of acquired intangible assets. + + +Excludes gain on intellectual property ("IP"). + + +Assumes a quarterly effective tax rate of 21% for Q4'20 and 2021. Assumes a quarterly effective tax rate of 17% for 2022. + + +Excludes a non-cash charge, primarily comprised of the impairment recognized on our equity method investment in Linksys Holdings Inc. ("Linksys") and other intervening events related to the establishment of a valuation allowance against Linksys deferred tax assets. + + +Excludes the adjustments attributable to non-controlling interests. + + +All share and per share amounts presented herein have been retroactively adjusted to reflect the five-for-one forward stock split which was effective June 22, 2022. + + +Excludes investments in privately held companies, which are recorded in other assets. + + + + + + + © Fortinet Inc. All Rights Reserved. + + + + + 4 + + + + + + + + 2022 Non-GAAP Results + + + + + + + + 2020 + + + + + 2021 + + + + + 2022 + + + + + + + Billings (1) + + + + + $3.090B + + + + + $4.181B + + + + + $5.594B + + + + + + + Y/Y % Change + + + + + 18.7% + + + + + 35.3% + + + + + 33.8% + + + + + + + Revenue + + + + + $2.594B + + + + + $3.342B + + + + + $4.417B + + + + + + + Y/Y % Change + + + + + 19.9% + + + + + 28.8% + + + + + 32.2% + + + + + + + Product Revenue + + + + + $916.4M + + + + + $1.255B + + + + + $1.781B + + + + + + + Y/Y % Change + + + + + 16.2% + + + + + 36.9% + + + + + 41.9% + + + + + + + Service Revenue + + + + + $1.678B + + + + + $2.087B + + + + + $2.637B + + + + + + + Y/Y % Change + + + + + 22.1% + + + + + 24.4% + + + + + 26.3% + + + + + + + + + Note + + + +Billings is a non-GAAP measure that we define as revenue recognized in accordance with GAAP plus the change in deferred revenue from the beginning to the end of the period less any deferred revenue balances acquired from business combination(s) and adjustment due to adoption of new accounting standard during the period. + + + + © Fortinet Inc. All Rights Reserved. + + + + + 5 + + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fortinet Inc. published this content on 07 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2023 21:21:41 UTC. + + diff --git a/news/FTNT/2023.02.08/Fortinet Helps Launch The Cybercrime Atlas Initiative, Enabling Businesses, Law Enforce...txt b/news/FTNT/2023.02.08/Fortinet Helps Launch The Cybercrime Atlas Initiative, Enabling Businesses, Law Enforce...txt new file mode 100644 index 0000000000000000000000000000000000000000..6c85545f58a17dbea222eb44ed570000792d5181 --- /dev/null +++ b/news/FTNT/2023.02.08/Fortinet Helps Launch The Cybercrime Atlas Initiative, Enabling Businesses, Law Enforce...txt @@ -0,0 +1 @@ +SUNNYVALE, Calif., Feb. 08, 2023 (GLOBE NEWSWIRE) -- Derek Manky, Chief Security Strategist and VP of Global Threat Intelligence at FortiGuard Labs “Disrupting global cybercriminal organizations requires a global effort with strong, trusted relationships and collaboration across public and private organizations and industries. It is part of Fortinet’s mission to secure people, devices, and data everywhere, and Fortinet is proud to be one of the founding members of the World Economic Forum Centre for Cybersecurity and an active contributor as part of its Partnership against Cybercrime (PAC). The Cybercrime Atlas initiative is about driving real impact and is a coordinated effort to create a chain of disruption in the world of cybercrime. We are excited to continue our work with private and public sector leaders to help make our digital world a safer place.”News SummaryFortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the launch of the Cybercrime Atlas, a joint initiative launched this month in Davos at the organization’s Annual Meeting by the World Economic Forum (WEF) with the support of Banco Santander, Fortinet, Microsoft, and PayPal. The Cybercrime Atlas – currently hosted by the Forum – will aid industry, law enforcement, and government agencies by providing a first-of-its-kind visibility to disrupt cybercriminals across their ecosystem and infrastructure to track and help take down cybercriminals and their infrastructure around the world. Global Leaders Collaborating to Build a Chain of DisruptionCybercrime impacts everyone from individuals to global corporations and critical infrastructures and governments. It causes immense, though not always visible, damage to economies and societies. The Cybercrime Atlas was first conceptualized by the Forum’s PAC community, which includes over 40 private and public sector members.The Cybercrime Atlas is a collaborative effort to build an action-orientated, global knowledge-base​ of the cybercriminal landscape to enable mitigation and disruption of cybercrime. Building on the expertise of the Forum’s PAC, the Cybercrime Atlas initiative will provide a platform for leading cybercrime investigators, national and international law enforcement agencies, and global businesses to share knowledge, generate policy recommendations and identify opportunities for coordinated action to fight cyberthreats.The Cybercrime Atlas aims to build a comprehensive picture of the cybercrime landscape that covers criminal operations, shared infrastructure, and networks. The links between the information gathered about threat actors will help the security industry more effectively disrupt the cybercriminal ecosystem, more efficiently allocate resources in the fight against them, and make their unlawful efforts more cost prohibitive.Since 2H 2021, the Cybercrime Atlas has benefited from a year of analysis into 13 criminal groups by specialized analysts and cybercrime investigators, using only publicly available information. The accumulated knowledge from the Cybercrime Atlas efforts will ultimately help to identify and disrupt the cybercrime ecosystem. The analysis will shed light on cybercriminal artifacts to aid industry, law enforcement, and government agencies to create a chain of disruption. The approach and initial findings of the group have been welcomed by law enforcement agencies. The uncovering of these non-traditional artifacts will help aid in the capture and successful prosecution of cybercrime gang members.Fortinet’s Continued Commitment to Disrupting Global CybercrimeFortinet’s FortiGuard Labs’ leadership in the threat intelligence community over the last decade has helped take the fight to adversaries and improve protections for customers, partners, and governments around the world. By sharing threat intelligence and working with other threat intelligence organizations, it helps improve protections for customers and enhances the effectiveness of the entire cybersecurity industry.FortiGuard Labs is committed to partnership and cooperation with global law enforcement, government organizations, and industry organizations. In addition to the work with WEF Centre for Cybersecurity and being a contributor to PAC, Fortinet also invests meaningful resources in further global partnerships, including the MITRE Engenuity Center for Threat Informed Defense (CTID). Fortinet is also a long-standing member of the NATO Industry Cyber Partnership (NICP), are active contributors and members of INTERPOL Gateway, is a founding member of the Cyber Threat Alliance (CTA), and more.Supporting Quotes“Given the global nature of cyberthreats, increasingly public-private collaboration is the best way to combat cybercrime. Organizations must look beyond their perimeter and combine efforts and resources with businesses, law enforcement and government.”-- Dirk Marzluf, Group Chief Operating and Technology Officer, Banco Santander“This initiative underlines the need for an enhanced multi-sector approach to combat the increasing cybercrime threat. A global solution must include private sector insights to enable law enforcement to prevent, detect, investigate and disrupt cybercrime.”-- Jürgen Stock, Secretary-General, International Criminal Police Organization (INTERPOL)“Cybercriminals work in the shadows and exploit vulnerabilities to inflict devastating attacks. The Cybercrime Atlas provides an important forum that brings the public and private sectors together to share actionable information and leverage cross-sector data, capabilities and expertise, crucial to disrupting cybercrime quickly, and at scale.” -- Brad Smith, Vice-Chair and President, Microsoft“The Cybercrime Atlas is a collaborative research initiative that gathers and collates information about the cybercriminal ecosystem and major threat actors operating today. The insights generated will help promote opportunities for greater cooperation between the private sector and law enforcement to address cybercrime.”-- Jeremy Jurgens, Managing Director, World Economic ForumAdditional ResourcesAbout FortinetFortinet (NASDAQ: FTNT) makes possible a digital world that we can always trust through its mission to protect people, devices, and data everywhere. This is why the world’s largest enterprises, service providers, and government organizations choose Fortinet to securely accelerate their digital journey. The Fortinet Security Fabric platform delivers broad, integrated, and automated protections across the entire digital attack surface, securing critical devices, data, applications, and connections from the data center to the cloud to the home office. Ranking #1 in the most security appliances shipped worldwide, more than 615,000 customers trust Fortinet to protect their businesses. And the Fortinet NSE Training Institute, an initiative of Fortinet’s Training Advancement Agenda (TAA), provides one of the largest and broadest training programs in the industry to make cyber training and new career opportunities available to everyone. Learn more at https://www.fortinet.com, the Fortinet Blog, or FortiGuard Labs.About FortiGuard LabsFortiGuard Labs is the threat intelligence and research organization at Fortinet. Its mission is to provide Fortinet customers with the industry’s best threat intelligence designed to protect them from malicious activity and sophisticated cyberattacks. It is composed of some of the industry’s most knowledgeable threat hunters, researchers, analysts, engineers, and data scientists in the industry, working in dedicated threat research labs all around the world. FortiGuard Labs continuously monitors the worldwide attack surface using millions of network sensors and hundreds of intelligence-sharing partners. It analyzes and processes this information using AI and other innovative technology to mine that data for new threats. These efforts result in timely, actionable threat intelligence in the form of Fortinet security product updates, proactive threat research to help our customers better understand the threats and actors they face, and threat intelligence to help our customers better understand and defend their threat landscape. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.FTNT-OCopyright © 2023 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiCore, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAP, FortiAppEngine, FortiAppMonitor, FortiAuthenticator, FortiBalancer, FortiBIOS, FortiBridge, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCenter, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCNP, FortiDB, FortiDDoS, FortiDeceptor, FortiDirector, FortiDNS, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFone, FortiGSLB, FortiHypervisor, FortiInsight, FortiIsolator, FortiLocator, FortiLog, FortiMeter, FortiMoM, FortiMonitor, FortiNAC, FortiPartner, FortiPenTest, FortiPhish, FortiPortal, FortiPresence , FortiProtect, FortiProxy, FortiRecorder, FortiReporter, FortiSASE, FortiScan, FortiSDNConnector, FortiSIEM, FortiSDWAN, FortiSMS, FortiSOAR, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiVoIP, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLCOS and FortiWLM.Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments. This news release may contain forward-looking statements that involve uncertainties and assumptions, such as statements regarding technology releases among others. Changes of circumstances, product release delays, or other risks as stated in our filings with the Securities and Exchange Commission, located at www.sec.gov, may cause results to differ materially from those expressed or implied in this press release. If the uncertainties materialize or the assumptions prove incorrect, results may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Fortinet assumes no obligation to update any forward-looking statements, and expressly disclaims any obligation to update these forward-looking statements. 2023 GlobeNewswire, Inc., source Press Releases - Canada \ No newline at end of file diff --git a/news/FTNT/2023.02.09/Fortinet : Supply Chain Attack via New Malicious Python Packages by Malware Author Core133...txt b/news/FTNT/2023.02.09/Fortinet : Supply Chain Attack via New Malicious Python Packages by Malware Author Core133...txt new file mode 100644 index 0000000000000000000000000000000000000000..4e9f3959a8e2055a3051b16dc1d0ff0039c24117 --- /dev/null +++ b/news/FTNT/2023.02.09/Fortinet : Supply Chain Attack via New Malicious Python Packages by Malware Author Core133...txt @@ -0,0 +1,22 @@ + + + The FortiGuard Labs team recently discovered several new 0-day attacks in the PyPI packages (Python Package Index) by malware author 'Core1337', who published the following packages: '3m-promo-gen-api', 'Ai-Solver-gen', 'hypixel-coins', 'httpxrequesterv2', and 'httpxrequester'. These attacks were published between January 27 to January 29, 2023. Each package had one version and an empty description, and all contained similar malicious code. For brevity, this blog will examine the '3m-promo-gen-api' package as representative of the entire set. + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fortinet Inc. published this content on 08 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2023 17:10:05 UTC. + + diff --git a/news/FTNT/2023.02.09/Fortinet : ZTNA Application Gateway Is Now Available on the AWS Marketplace.txt b/news/FTNT/2023.02.09/Fortinet : ZTNA Application Gateway Is Now Available on the AWS Marketplace.txt new file mode 100644 index 0000000000000000000000000000000000000000..ae3f261b645d25122cfee0e6cb7826240cae9bed --- /dev/null +++ b/news/FTNT/2023.02.09/Fortinet : ZTNA Application Gateway Is Now Available on the AWS Marketplace.txt @@ -0,0 +1,47 @@ + + + Due to the rise of work from anywhere, more organizations are adopting Zero-Trust Network Access (ZTNA) to secure their networks and data. In a world where employees are accessing resources from a variety of devices and locations, the traditional network perimeter can no longer be used as a reliable indicator of trust, so ZTNA is being looked at more seriously. + + + The Fortinet Zero-Trust Network Access (ZTNA) Application Gateway is now available on the Amazon Web Services (AWS) Marketplace. It provides a secure and scalable solution for businesses seeking to protect their applications and data in the cloud or data center. The ZTNA Application Gateway is designed to provide secure, remote access to applications and data using a range of security features to verify the identity of users and devices before granting access. By preventing unauthorized access and data breaches, it helps protect businesses from potential legal and financial consequences. + + +A Single, Unified Solution + + + With its Universal ZTNA approach, Fortinet takes the concept of ZTNA a step further. The single, unified solution secures access to applications and data from anywhere, which is especially important for organizations with a distributed workforce or a mix of on-premises and cloud-based resources. Users are authenticated and authorized based on their identity, the posture of their device, and only then provided access to resources explicitly granted to them. Regardless of where they are located or what device they are using, only authorized users can access sensitive data. ZTNA can significantly improve security and reduce an organization's attack surface compared to legacy VPN solutions. + + + In addition to its strong security capabilities, the Fortinet ZTNA Application Gateway is also highly scalable and flexible. It can be easily deployed on the AWS cloud, so businesses can quickly and easily set up secure access to their applications and data. The gateway is also compatible with a wide range of devices and platforms, so it's ideal for businesses with diverse IT infrastructures. + + +Improve Security While Reducing Complexity + + + + ZTNA also offers a number of other advantages for organizations. It can help reduce the complexity of managing access to resources because it eliminates the need for traditional VPNs and other complex access controls that often provide excessive access. ZTNA makes it easier for users to access the resources they need while reducing the burden on IT departments. The Fortinet Universal ZTNA approach provides a consistent experience regardless of where users are logging in from, so the overall experience is significantly better than remote access-only ZTNA solutions. + + + Because the Fortinet ZTNA Application Gateway is now available on the AWS Marketplace, businesses can secure their digital assets and safeguard against cyber threats more easily. With its strong security features and scalable, flexible design, the Fortinet ZTNA Application Gateway is an excellent choice for businesses looking to secure their applications and data in the cloud or anywhere. + + +Learn more about Fortinet ZTNA solutions and why our Universal ZTNA approach makes sense for many organizations. Find out more about the Fortinet ZTNA Application Gateway on the AWS Marketplace. + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fortinet Inc. published this content on 09 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2023 16:10:01 UTC. + + diff --git a/news/FTNT/2023.02.13/Ken Xie Q&a : Growth, Differentiators, and FortiSP5.txt b/news/FTNT/2023.02.13/Ken Xie Q&a : Growth, Differentiators, and FortiSP5.txt new file mode 100644 index 0000000000000000000000000000000000000000..4d4fb6d96713ad560af85e3624c9000c0c8196eb --- /dev/null +++ b/news/FTNT/2023.02.13/Ken Xie Q&a : Growth, Differentiators, and FortiSP5.txt @@ -0,0 +1,74 @@ + + +As an industry leader in cybersecurity, for more than 20 years, Fortinet has led long-term strategies and investments around the convergence of networking and security. Ken Xie, the founder, Chairman of the Board, and CEO of Fortinet offers his perspective on the company's fourth quarter and full year 2022 results, technology innovations, and how the need to reduce complexity will change the way enterprises view networking and security. + + +Can you provide a brief overview of Fortinet's earnings results for 2022? + + +Ken: Our 2022 results demonstrate the success of our strategy to lead in convergence and consolidation as well as the combined power of our ASIC technology with our integrated FortiOS operating system. For the full year, revenue growth accelerated to 32%, the fifth consecutive year of revenue growth of 20% or more. Product revenue growth of 42% was very strong. + + +Can you elaborate on the FortiSP5 announcement and how it helps customers? + + +Ken: Recently, we announced our fifth-generation security processor, the FortiSP5. This new ASIC has secure compute power ratings for major network security functions like firewall and VPN with throughputs that are 17 to 32 times greater than the average of our competitors' similarly priced models using general-purpose CPUs. The FortiSP5 doubles the ASIC chip acceleration to 14 applications such as zero trust, SASE, 5G, edge compute, and SD-Branch with much better performance and efficiency. + + + The FortiSP5 enables line-speed convergence of networking and security at every network edge. The security computing power advantage of the FortiSP5 enables our FortiOS operating system to integrate more security functions and applications than our competitors with much better performance and much lower energy consumption. These advantages mean a much lower total cost of ownership and easier operations for our customers. + + + Now on its fifth generation, we believe Fortinet's proprietary system-on-a-chip technology has a proven track record of powering the industry's top-performing products and solutions. + + + For example, a recent Forrester report highlighted that customers deploying Fortinet's Secure SD-WAN solution achieved a 300% return on investment over 3 years with a payback period of only 8 months. + + +Can you talk about the opportunity you see with the convergence of networking and security? + + +Ken: The sheer number of devices that must be connected to the cloud, data center, and edge compute have driven changes in cybersecurity. It is no longer feasible to overlay security on top of networking. Security solutions need to work seamlessly across a company's entire infrastructure. + + + Fortinet is leading the charge toward networking and security convergence. We offer a wide range of technologies including next-generation firewalls, Secure SD-WAN, 5G, and OT security, which can be delivered as hardware, software, cloud, and as a service. And all of our solutions run a single operating system, FortiOS, which improves operational efficiency and provides consistent security no matter where users or applications are distributed. + + + As networking and security continue to converge, the substantial installed base of Fortinet products also enables us to offer additional security services as well as integrated and automated products. We also recently announced several new and enhanced services that help security operations center (SOC) teams reduce risks and handle cybersecurity issues more efficiently. + + +What do you see as the main areas of business growth for Fortinet? + + +Ken: SD-WAN and OT bookings together accounted for over 25% of total bookings and our goal is to keep growing and achieve number one market share in network firewall, Secure SD-WAN, and the OT security markets over the next couple of years. + + +How is Fortinet different from other cybersecurity vendors? + + +Ken: We continue to gain market share within the cybersecurity industry as more customers recognize how our integrated, single-platform approach to security delivers a lower total cost of ownership and a greater return on investment than competing solutions. The Fortinet suite of integrated products meets customer demands for convergence, vendor consolidation, ease of management, and lower operating costs. + + + Our investment in developing proprietary ASIC technology to build application-specific solutions is also a differentiator because traditional CPU-based solutions are inefficient at supporting both networking and security. + + + In addition, social responsibility is an integral part of our business. We continue to work to meet our own sustainability goals and help our customers and partners do the same through our dedication to improving the performance and energy efficiency of our products. Our approach has earned Fortinet several industry recognitions, including being named to the 2022 Dow Jones Sustainability Index (DJSI) World and DJSI North America, ranking among the world's top sustainable companies in the software and services industry. Lower power consumption was also a contributing factor in our top 2 percent ranking in the S&P Global Corporate Sustainability Assessment. + + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fortinet Inc. published this content on 13 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2023 16:07:05 UTC. + + diff --git a/news/FTNT/2023.02.22/FortiGuard Labs Reports Destructive Wiper Malware Increases Over 50%.txt b/news/FTNT/2023.02.22/FortiGuard Labs Reports Destructive Wiper Malware Increases Over 50%.txt new file mode 100644 index 0000000000000000000000000000000000000000..94b9279be74542cb67b687ec0d6c6cb06db89079 --- /dev/null +++ b/news/FTNT/2023.02.22/FortiGuard Labs Reports Destructive Wiper Malware Increases Over 50%.txt @@ -0,0 +1 @@ +SUNNYVALE, Calif., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Derek Manky, Chief Security Strategist & Global VP Threat Intelligence, FortiGuard Labs“For cyber adversaries, maintaining access and evading detection is no small feat as cyber defenses continue to advance to protect organizations today. To counter, adversaries are augmenting with more reconnaissance techniques and deploying more sophisticated attack alternatives to enable their destructive attempts with APT-like threat methods such as wiper malware or other advanced payloads. To protect against these advanced persistent cybercrime tactics, organizations need to focus on enabling machine learning–driven coordinated and actionable threat intelligence in real time across all security devices to detect suspicious actions and initiate coordinated mitigation across the extended attack surface.”News Summary: Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the latest semiannual Global Threat Landscape Report from FortiGuard Labs. The threat landscape and organizations’ attack surface are constantly transforming, and cybercriminals’ ability to design and adapt their techniques to suit this evolving environment continues to pose significant risk to businesses of all sizes, regardless of industry or geography. For a detailed view of the report, as well as some important takeaways, read the blog.Highlights of the 2H 2022 report follow:Destructive APT-like Wiper Malware Spreads Wide in 2022 Analyzing wiper malware data reveals a trend of cyber adversaries consistently using destructive attack techniques against their targets. It also shows that with the lack of borders on the internet, cyber adversaries can easily scale these types of attacks, which have been largely enabled by the Cybercrime-as-a-Service (CaaS) model.In early 2022, FortiGuard Labs reported the presence of several new wipers in parallel with the Russia-Ukraine war. Later in the year, wiper malware expanded into other countries, fueling a 53% increase in wiper activity from Q3 to Q4 alone. While some of this activity was enabled by wiper malware that may have been initially developed and deployed by nation-state actors surrounding the war, it is being picked up by cybercriminal groups and is spreading beyond just Europe. Unfortunately, the trajectory of destructive wiper malware does not appear to be slowing any time soon based on the activity volume seen in Q4, which means any organization remains a potential target, not just organizations based in the Ukraine or surrounding countries.Mapping CVEs Reveals Vulnerability Red Zone to Help CISOs PrioritizeExploit trends help show what cybercriminals are interested in attacking, probing for future attacks, and are actively targeting. FortiGuard Labs has an extensive archive of known vulnerabilities, and through data enrichment was able to identify actively exploited vulnerabilities in real time and map zones of active risk across the attack surface. In the second half of 2022, less than 1% of the total observed vulnerabilities discovered in an enterprise-size organization were on endpoints and actively under attack, giving CISOs a clear view of the Red Zone through intelligence of the active attack surface that they should prioritize efforts to minimize their risk and where to focus patching efforts.Financially Motivated Cybercrime and Ransomware Threat Holding at Peak Levels FortiGuard Labs Incident Response (IR) engagements found that financially motivated cybercrime resulted in the highest volume of incidents (73.9%), with a distant second attributed to espionage (13%). In all of 2022, 82% of financially motivated cybercrime involved the employment of ransomware or malicious scripts, showing that the global ransomware threat remains in full force with no evidence of slowing down thanks to the growing popularity of Ransomware-as-a-Service (RaaS) on the dark web.In fact, ransomware volume increased 16% from the first half of 2022. Out of a total of 99 observed ransomware families, the top five families accounted for roughly 37% of all ransomware activity during the second half of 2022. GandCrab, a RaaS malware that emerged in 2018, was at the top of the list. Although the criminals behind GandCrab announced that they were retiring after making over $2 billion in profits, there were many iterations of GandCrab during its active time. It is possible that the long-tail legacy of this criminal group is still perpetuating, or the code has simply been built upon, changed, and re-released, demonstrating the importance of global partnerships across all types of organizations to permanently dismantle criminal operations. Effectively disrupting cybercriminal supply chains requires a global group effort with strong, trusted relationships and collaboration among cybersecurity stakeholders across public and private organizations and industries.Adversary Code Reuse Showcases the Resourceful Nature of AdversariesCyber adversaries are enterprising in nature and always looking to maximize existing investments and knowledge to make their attack efforts more effective and profitable. Code reuse is an efficient and lucrative way for cybercriminals to build upon successful outcomes while making iterative changes to fine-tune their attacks and overcome defensive obstacles.When FortiGuard Labs analyzed the most prevalent malware for the second half of 2022, the majority of the top spots were held by malware that was more than one year old. FortiGuard Labs further examined a collection of different Emotet variants to analyze their tendency to borrow and reuse code. The research showed that Emotet has gone through significant speciation with variants breaking into roughly six different “species” of malware. Cyber adversaries are not just automating threats but actively retrofitting code to make it even more effective.Older Botnet Resurrection Demonstrates the Resiliency of Adversarial Supply ChainsIn addition to code reuse, adversaries are also leveraging existing infrastructure and older threats to maximize opportunity. When examining botnet threats by prevalence, FortiGuard Labs discover that many of the top botnets are not new. For example, the Morto botnet, which was first observed in 2011, surged in late 2022. And others like Mirai and Gh0st.Rat continue to be prevalent across all regions. Surprisingly, out of the top five observed botnets, only RotaJakiro is from this decade.Although it may be tempting to write off older threats as past history, organizations across any sector must continue to stay vigilant. These “vintage” botnets are still pervasive for a reason: They are still very effective. Resourceful cybercriminals will continue to leverage existing botnet infrastructure and evolve it into increasingly persistent versions with highly specialized techniques because the ROI is there. Specifically, in the second half of 2022, significant targets of Mirai included managed security service providers (MSSPs), the telco/carrier sector, and the manufacturing sector, which is known for its pervasive operational technology (OT). Cybercriminals are making a concerted effort to target those industries with proven methods.Log4j Remains Widespread and Targeted by CybercriminalsEven with all the publicity that Log4j received in 2021 and the early parts of 2022, a significant number of organizations still have not patched or applied the appropriate security controls to protect their organizations against one of the most notable vulnerabilities in history.In the second half of 2022, Log4j was still heavily active in all regions and was second. In fact and FortiGuard Labs found that 41% of organizations detected Log4j activity, showing just how widespread the threat remains. Log4j IPS activity was most prevalent across tech, government, and educational sectors, which should come as no surprise, given Apache Log4j’s popularity as open-source software.Analyzing a Piece of the Malware Story: Delivery Shifts Demonstrate Urgency for User AwarenessAnalyzing adversarial strategies gives us valuable insights into how attack techniques and tactics are evolving to better protect against future attack scenarios. FortiGuard Labs looked at the functionality of detected malware based on sandbox data to track the most common delivery approaches. It is important to note that this only looks at detonated samples.In reviewing the top eight tactics and techniques viewed in sandboxing, drive-by-compromise was the most popular tactic used by cybercriminals to gain access into organizations' systems across all regions globally. Adversaries are primarily gaining access to victims’ systems when the unsuspecting user browses the internet and unintentionally downloads a malicious payload by visiting a compromised website, opening a malicious email attachment, or even clicking a link or deceptive pop-up window. The challenge with the drive-by tactic is that once a malicious payload is accessed and downloaded, it is often too late for the user to escape compromise unless they have a holistic approach to security.Shifting to Meet the Threat Landscape Head-OnFortinet is a leader in enterprise-class cybersecurity and networking innovation, helping CISOs and security teams break the attack kill chain, minimize the impact of cybersecurity incidents, and better prepare for potential cyberthreats.Fortinet's suite of security solutions includes a variety of powerful tools like next-generation firewalls (NGFW), network telemetry and analytics, endpoint detection and response (EDR), extended detection and response (XDR), digital risk protection (DRP), security information and event management (SIEM), inline sandboxing, deception, security orchestration, automation, and response (SOAR), and more. These solutions provide advanced threat detection and prevention capabilities that can help organizations quickly detect and respond to security incidents across their entire attack surface.To complement these solutions and support short-staffed teams strained by the cybersecurity talent shortage, Fortinet also offers machine learning–enabled threat intelligence and response services. These provide up-to-date information on the latest cyberthreats and enable businesses to quickly respond to security incidents, minimizing the impact on their organization. Fortinet’s human-based SOC augmentation and threat intelligence services also help security teams better prepare for cyberthreats and provide real-time threat monitoring and incident response capabilities.This comprehensive suite of cybersecurity solutions and services enables CISOs and security teams to focus on enabling the business and higher-priority projects.Report Overview This latest Global Threat Landscape Report is a view representing the collective intelligence of FortiGuard Labs, drawn from Fortinet’s vast array of sensors collecting billions of threat events observed around the world during the second half of 2022. Using the MITRE ATT&CK framework, which classifies adversary tactics, techniques, and procedures(TTPs), the FortiGuard Labs Global Threat Landscape Report sets out to describe how threat actors target vulnerabilities, build malicious infrastructure, and exploit their targets. The report also covers global and regional perspectives as well as threat trends affecting both IT and OT environments. Additional Resources About FortiGuard LabsFortiGuard Labs is the threat intelligence and research organization at Fortinet. Its mission is to provide Fortinet customers with the industry’s best threat intelligence designed to protect them from malicious activity and sophisticated cyberattacks. It is composed of some of the industry’s most knowledgeable threat hunters, researchers, analysts, engineers, and data scientists in the industry, working in dedicated threat research labs all around the world. FortiGuard Labs continuously monitors the worldwide attack surface using millions of network sensors and hundreds of intelligence-sharing partners. It analyzes and processes this information using AI and other innovative technology to mine that data for new threats. These efforts result in timely, actionable threat intelligence in the form of Fortinet security product updates, proactive threat research to help our customers better understand the threats and actors they face, and threat intelligence to help our customers better understand and defend their threat landscape. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.About FortinetFortinet (NASDAQ: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere you need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet's solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. FortiGuard Labs, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.FTNT-OCopyright © 2023 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCWP, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFone, FortiGSLB, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMoM, FortiMonitor, FortiNAC, FortiNDR, FortiPenTest, FortiPhish, FortiPlanner, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM and FortiXDR. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments. 2023 GlobeNewswire, Inc., source Press Releases - Canada \ No newline at end of file diff --git a/news/FTNT/2023.02.22/Fortinet : Key Findings from the 2H 2022 FortiGuard Labs Threat Report.txt b/news/FTNT/2023.02.22/Fortinet : Key Findings from the 2H 2022 FortiGuard Labs Threat Report.txt new file mode 100644 index 0000000000000000000000000000000000000000..75bd450612b2e0a759c15e233b2b19f49c62a6f6 --- /dev/null +++ b/news/FTNT/2023.02.22/Fortinet : Key Findings from the 2H 2022 FortiGuard Labs Threat Report.txt @@ -0,0 +1,37 @@ + + + In the first half of 2022, FortiGuard Labs observed an overall increase in attack frequency paired with the explosive growth of new variants associated with familiar tactics. While attack volume isn't showing any signs of slowing, the back half of the year gave rise to some other distinct trends in activity. For starters, our team witnessed destructive wiper malware attacks impacting more organizations across the globe, as well as enterprising cybercriminals reimagining existing botnets and reusing code to power new-and more sophisticated-attacks. + + + In our 2H 2022 Threat Landscape Report, we examine the cyber threat landscape over the year's second half to identify trends and offer insights on what security professionals should know to effectively protect their organizations in the new year and beyond. The report findings are based on the collective intelligence of FortiGuard Labs, drawn from Fortinet's vast array of sensors collecting billions of threat events observed around the world during this same period. Below are key takeaways from the report. + + +2H 2022 Threat Report: A Summary + + + We're increasingly seeing cybercriminals take a "work smarter, not harder" approach to unveiling new tactics. From new Advanced Persistent Cybercrime tactics to upgrading old-school botnets like Mirai, bad actors continually find more sophisticated ways to infiltrate networks, making every organization regardless of size or industry a target. + + +APT-like Wiper Malware Expands Worldwide + + + In the first half of the year, we saw a resurgence in wiper malware and, as we predicted, this destructive attack playbook has only widened its foothold during the second half of 2022. Wiper malware expanded into other countries, driving a 53% increase in wiper activity from Q3 to Q4. + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Fortinet Inc. published this content on 22 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2023 14:06:04 UTC. + + diff --git a/news/GFS/2023.01.11/Globalfoundries : Corporate Overview Presentation.txt b/news/GFS/2023.01.11/Globalfoundries : Corporate Overview Presentation.txt new file mode 100644 index 0000000000000000000000000000000000000000..05e56cc43e978737d2628702f09b8091ae8cb3ae --- /dev/null +++ b/news/GFS/2023.01.11/Globalfoundries : Corporate Overview Presentation.txt @@ -0,0 +1,331 @@ + + + + Delivering pervasive semiconductors for humankind + + + + + Disclaimer + + + Building blocks of our "Foundation of Trust" + + + This presentation and the accompanying oral presentation include "forward-looking statements," that reflect our current expectations and views of future events. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and include but are not limited to, statements regarding our financial outlook, future guidance, product development, business strategy and plans, and market trends, opportunities and positioning. These statements are based on current expectations, assumptions, estimates, forecasts, projections and limited information available at the time they are made. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall," "outlook," "on track," and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a broad variety of risks and uncertainties both known and unknown. Any inaccuracy in our assumptions and estimates could affect the realization of the expectations or forecasts in these forward-looking statements. For example, our business could be impacted by the COVID-19 pandemic and supply chain disruptions due to the Russia/Ukraine conflict and actions taken in response to such events; the market for our products may develop more slowly than expected or than it has in the past; our operating results may fluctuate more than expected; there may be significant fluctuations in our results of operations and cash flows related to our revenue recognition or otherwise; a network or data security incident that allows unauthorized access to our network or data or our customers' data could damage our reputation; we could experience interruptions or performance problems associated with our technology, including a service outage; and global economic conditions could deteriorate. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Moreover, we operate in a competitive and rapidly changing market, and new risks may emerge from time to time. You should not rely upon forward-looking statements as predictions of future events. These statements are based on our historical performance and on our current plans, estimates and projections in light of information currently available to us, and therefore you should not place undue reliance on them. + + + Although we believe that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assumes responsibility for the accuracy and completeness of these statements. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. Except to the extent required by federal securities laws, we undertake no obligation to update any information or any forward-looking statements as a result of new information, subsequent events, or any other circumstances after the date hereof, or to reflect the occurrence of unanticipated events. + + + This presentation and the accompanying oral presentation also contain estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry and business. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We have not independently verified the industry data generated by independent parties and contained in this presentation and, accordingly, we cannot guarantee their accuracy or completeness. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we compete are necessarily subject to a high degree of uncertainty and risk. + + + In addition to the financial information presented in accordance with International Financial Reporting Standards ("IFRS"), this presentation includes the following adjusted non-IFRS metrics: adjusted gross profit (loss), adjusted gross + + + margin, adjusted net income (loss), adjusted diluted earnings (loss) per share and adjusted EBITDA. We define adjusted gross profit (loss) as gross profit (loss) adjusted for share-based compensation expense. We define adjusted gross margin as adjusted gross profit (loss), which is gross profit (loss) before share-based compensation, divided by net revenues. We define adjusted operating profit (loss) as profit (loss) from operations adjusted for share-basedcompensation expense. We define adjusted operating margin as adjusted operating profit (loss) divided by net revenues. We define adjusted net income (loss) as net income (loss) adjusted for share-based compensation expense. We define adjusted diluted earnings (loss) per share as adjusted net income (loss) divided by the dilutive shares. We define adjusted EBITDA as net income (loss), excluding the impact of finance expense, income tax expense, depreciation, amortization, share-based compensation expense, transaction gains and associated expenses, restructuring charges and litigation settlements. We define adjusted EBITDA margin as adjusted EBITDA divided by net revenues. + + + We believe that in addition to our results determined in accordance with IFRS, these adjusted non-IFRS measures provide useful information to both management and investors in measuring our financial performance and highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures. These adjusted non-IFRS financial measures provide supplemental information regarding our operating performance that excludes certain gains, losses and non-cash charges that occur relatively infrequently and/or that we consider to be unrelated to our core operations. For further information regarding these non-IFRS measures, please refer to "Appendix" in this presentation. + + + Adjusted non-IFRS financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS. Our presentation of adjusted non-IFRS measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items. Other companies in our industry may calculate these measures differently, which may limit their usefulness as a comparative measure. + + + + + +GlobalFoundries © 2022 All Rights Reserved + + + + + 2 + + + + + + + + + + + Delivering a + + + + + more + + + + + more + + + + + + + new era of more + + + + + innovation + + + + + impact + + + + + + + + + GF at a glance + + + + + + $6.6B + + + + + 2.4M + + + + + + + 2021 revenue + + + + + 2021 wafer shipments + + + + + + + + + (300mm eq.) + + + + + + + + + >200 + + + + + 4 + + + + + + + customers in 2021 + + + + + manufacturing sites + + + + + + + + + across three continents + + + + + + ~15,000 ~10,000 10.28.21 + + + + + + employees + + + + + patents + + + + + GFS Nasdaq listed + + + + + + + + + + +GlobalFoundries © 2022 All Rights Reserved + + + + + 4 + + + + + + + + + + + GF journey + + + Creation + + + GlobalFoundries was created based on the thesis that the world needed a geographically diverse alternative to Taiwan + + + + + Transformation + + + Strategically re-positioned to serve pervasive semiconductor end markets + + + +Strengthened management team aligned to mission + + +Refocused investments & accelerated differentiated solutions focused on pervasive markets + + +Increased single-sourced products + + +Driving margin expansion and earnings growth + + + + + + Realization + + + The world's leading manufacturer of feature- rich semiconductor solutions + + + +Gain share in secular end-markets + + +Innovate in purpose-built platforms and solutions + + +Capital efficient expansion through partnerships + + +Deliver best-in-class financials + + + + + + + + + + 2009 + + + + + 2017 + + + + + 2018 + + + + + 2021 + + + + + 2022 + + + + + 2030 + + + + + + + + + + +GlobalFoundries © 2022 All Rights Reserved + + + + + 5 + + + + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +GLOBALFOUNDRIES Inc. published this content on 11 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 January 2023 15:56:16 UTC. + + diff --git a/news/GFS/2023.01.12/Globalfoundries : GF Raises the Bar for Sustainability, Efficiency with Expansion in Singa...txt b/news/GFS/2023.01.12/Globalfoundries : GF Raises the Bar for Sustainability, Efficiency with Expansion in Singa...txt new file mode 100644 index 0000000000000000000000000000000000000000..27882d819544de60359204ff9f67da256e1f3814 --- /dev/null +++ b/news/GFS/2023.01.12/Globalfoundries : GF Raises the Bar for Sustainability, Efficiency with Expansion in Singa...txt @@ -0,0 +1,82 @@ + + +January 12, 2023 + + + by HanBin Lim + + + In today's world, a semiconductor fab's performance isn't only measured by wafer output and yields, but also by how efficiently and sustainably it uses natural resources, and how effectively it minimizes the impacts of manufacturing on its neighborhood. + + + Nowhere are those considerations more important than on the small island nation of Singapore, which is one of the most densely populated nations and has a limited supply of water and other natural resources. GlobalFoundries (GF) has long operated in Singapore, benefitting from the nation's skilled and dedicated workforce, forward-thinking policies of the government, outstanding universities, and strategic location. Because of these advantages, and thanks to GF Singapore's world-class team and operational performance, GF is in the midst of a significant expansion on our Singapore campus. We broke ground on the expansion in July 2021, and a year later moved the first production tools into the new building. + + + The new expansion will be GF's most advanced semiconductor fab in Singapore, and state-of-the-art environmental performance and sustainable operation have been priorities from the very start of its design process. They are essential, not only because GF is a large, prominent company with diverse stakeholders who expect nothing less than excellent performance, but also because our campus is adjacent to highly populated residential areas. In fact, many of our employees reside nearby in the town of Woodlands. + + + Among the major design elements that will make this performance possible are innovative water solutions enabling a high level of water recycling and reuse; new abatement technologies that can much more effectively remove greenhouse gases from our exhaust; and the complete replacement of fossil fuel burning boilers with electric heat pumps. + + + The new building is also solar-ready so that we can reduce the use of fossil fuels in our electricity supply. The necessary cabling, switch rooms, inverters and other required infrastructure have been designed into the facilities, and once production tools have all been installed in the facility, the rooftop solar panels will be put in place and connected. + + + Reusing and Recycling Water + + + Water conservation is a key concern in Singapore, and once complete the Singapore expansion will be GF's most water-efficient fab. Taking a long-term perspective, the new facility even features the space and flexibility needed to enable future advances in water technology and incorporate these future systems into the operation of the fab. + + + GF's water journey in Singapore is more than a decade long and we continue to lessen our facility's impact on our country's limited water resources. One way we are doing that is with rainwater-collection systems to capture the rain so that we can use it onsite. While rainwater isn't potable, it's suitable for such tasks as flushing toilets and washing floors. + + + We are also focusing on wastewater treatment, going above and beyond what Singapore regulations require. For example, we have technology and processes that are new to GF's Singapore fabs, which eliminate certain chemicals from the new fab's wastewater. This not only reduces our potential impact on downstream water treatment systems, but because we are part of the local community here and want to be a good neighbor to our community. + + + Treating the Air for Lower Greenhouse Gases + + + At the fab expansion, we are installing a new generation of abatement systems which can much more effectively treat the greenhouse gases emitted from our manufacturing operations. This state-of-the-art capability enables our Singapore site to substantially reduce its overall emissions, even as we expand our capacity, in line with GF's Journey to Zero Carbon goal. + + + We are also building a thermal oxidizer system to treat volatile organic compounds (VOCs) in the exhaust, reducing the concentration of any VOCs by 90-99.5% and minimizing the impact of the new expansion on neighboring communities. + + + Electrification and Phasing Out Fossil Fuels + + + To further enhance the environmental performance of the new fab is to electrify wherever possible. We are replacing fossil-fuel-burning combustion boilers with electricity-driven heat pumps to heat water for manufacturing operations, and using local on-demand water heaters for other needs. Not only does this eliminate any exhaust smoke emitted into the air, it is also much more energy-efficient, decreasing overall energy demand and providing an avenue for our hot water needs to be rigorously optimized. + + + The Human Dimension + + + As important as all of this work is, it also has a human dimension which transcends the technical details. + + + The APAC Environmental Team is relatively young for our industry, with an average age of about 30 years old. The way we see it, we aren't just building a fab to meet today's needs and requirements, we're building a fab for the future. This fab is made to beat tomorrow's challenges and to last beyond the duration of our careers. + + + So our challenge, or rather our opportunity, is to build this fab not just according to today's rules, but according to our vision of the future. + + +HanBin Lim is an Environmental Manager for GF in the APAC region. He has a Bachelor's in Chemical Engineering from National University of Singapore, and also leads the global Circularity Work Group in SEMI. + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +GLOBALFOUNDRIES Inc. published this content on 12 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 January 2023 18:19:07 UTC. + + diff --git a/news/GFS/2023.02.09/GM inks agreement with GlobalFoundries to secure chips made in the U.S.txt b/news/GFS/2023.02.09/GM inks agreement with GlobalFoundries to secure chips made in the U.S.txt new file mode 100644 index 0000000000000000000000000000000000000000..6537cdfe4378bb647fd93a355808f664eb590a64 --- /dev/null +++ b/news/GFS/2023.02.09/GM inks agreement with GlobalFoundries to secure chips made in the U.S.txt @@ -0,0 +1 @@ +GlobalFoundries said the agreement was the first of its kind and establishes a dedicated capacity exclusively for GM's key chip suppliers at their upstate New York fabrication facility.The announcement comes two days after President Joe Biden in his State of the Union address praised the passing of the $52 billion Chips and Science Act that aims to bring back chip manufacturing to the United States. GlobalFoundries Chief Executive Tom Caulfield told Reuters he believes supporting U.S. manufacturing makes the company competitive when seeking some of that funding."This is the automaker going right to the manufacturing foundry, reserving the capacity for their needs. Making the appropriate co-investments with that foundry so that the best economics take place," Caufield said.GM said the chip supply deal was "yet another tangible proof point of how GM is separating itself from our competition." GM rival Ford Motor Co said last week that its inability to acquire chips and other supply chain problems contributed to a $2 billion shortfall in fourth-quarter profit compared to the company's forecasts.Ford Chief Financial Officer John Lawler, who is also interim head of the automaker's supply chain operations, told analysts that securing adequate supplies of chips "continues to be hand-to-hand combat."Ford is putting "corrective actions in place," Lawler said. "We've got better pipelines from brokers and spot buys. And we're working very closely with our supply chain down to the Tier 2 chip suppliers."In late 2021, during the height of the chip shortage, GlobalFoundries and Ford announced a non-binding agreement that could involve increasing production capacity for Ford.Few details of that arrangement were provided at the time and few have been released since. Caulfield said GlobalFoundries is talking to almost all the major global automakers, and that the GM agreement does not mean there won't be additional deals with other manufacturers.By the end of 2023, almost 18 million vehicles will have been removed from production plans since the chip shortage began, according to Auto Forecast Solutions.The auto chip shortage dramatically changed the way carmakers deal with their chip suppliers, with whom they previously rarely had direct contact.Several auto companies have now created teams and divisions to better secure chip supply and think about the design of digital platforms for cars going forward.Chip manufacturers told Reuters last year, it was time for the auto industry to carry some of the burden of the investment for the multibillion-dollar facilities needed for producing chips. (Reporting By Jane Lanhee Lee in Oakland, Calif. and Joseph White in Detroit, Additional Reporting by Stephen Nellis; Editing by Bill Berkrot and Chizu Nomiyama)By Jane Lanhee Lee and Joseph White \ No newline at end of file diff --git a/news/GFS/2023.02.09/GM reaches computer chip supply deal with GlobalFoundries.txt b/news/GFS/2023.02.09/GM reaches computer chip supply deal with GlobalFoundries.txt new file mode 100644 index 0000000000000000000000000000000000000000..a3a93a8c51367dbd65ba1abf850fc6838d7df348 --- /dev/null +++ b/news/GFS/2023.02.09/GM reaches computer chip supply deal with GlobalFoundries.txt @@ -0,0 +1 @@ +DETROIT (AP) — With the global shortage of semiconductors still crimping U.S auto production, General Motors has signed a deal with chipmaker GlobalFoundries to dedicate part of an upstate New York factory to supply the automaker.In a joint statement from the companies Thursday, Malta, New York-based GlobalFoundries said it will expand production capacity inside its Malta plant exclusively for GM's supply chain.The factory would supply finished computer chips to GM parts suppliers that manufacture computer modules to control everything from transmissions to brakes to radios.GM said the deal is for a “long term,” but the company wouldn't say how long the agreement lasts. The companies also wouldn't say how many wafers would be produced or release financial details.“It's a partnership that includes investment from both sides,” GF spokeswoman Laurie Kelly said. It will take at least two years for the chips to start flowing as the company installs equipment and chips are designed, she said.New vehicles now have more than 1,000 chips in them, and that need will only grow with automated driving systems and connectivity that will be expanded in the coming years. GM and other automakers hope to make millions from selling software packages to customers, and chips will be needed to support those.Doug Parks, GM's head of purchasing and product development, said in the statement that the company expects to double its need for semiconductors over the next several years “as vehicles become technology platforms.”At the same time, GM, the largest automaker in the U.S., is trying to reduce the number of unique chips in each vehicle so the ones used by the company can be produced in higher volumes.“GF will expand its production capabilities exclusively for GM's supply chain, enabling us to strengthen our partnership with the automotive industry and New York State,” Thomas Caulfield, GF's CEO, said in the statement.The deal won't create any new jobs immediately, but will shore up semiconductor supplies for the auto industry, GF said.Shares of GM rose 3% in midday trading Thursday.The auto industry has been hit hard by the global computer chip shortage that surfaced in 2020 as the novel coronavirus pandemic was spreading. Auto plants were forced to shut down early in the pandemic to help prevent the virus from spreading, but came back online faster than expected. At the same time, chipmakers switched production to semiconductors for computers, tablets and games as demand soared.That left the auto industry with too few chips, forcing companies to slow assembly lines and causing shortages at dealerships, driving up prices. Industry analysts expect the shortage to improve, but to continue at least into 2024.In an interview last summer, GM CEO Mary Barra said the company is throwing out its old business model of letting parts supply companies acquire the chips with GM knowing little about them. Instead, by 2025, it will move toward three families of chips that Barra said the company will buy and control itself. They will be able to do multiple tasks, eliminating the need for dozens of chips in every vehicle.That standardization will give GM the scale to buy in bulk and make sure supplies don’t get interrupted in the future, Barra said last July. “We’re also working with a select group of strategic companies to source these for the volumes. We’ll have much better control and a stable supply," she said.About 86% of GlobaFoundaries shares are owned by the Mubadala Investment Co. of the United Arab Emirates, according to data provider FactSet. The investment company says on its website that it manages assets and generates returns for its shareholder, the government of Abu Dhabi.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/GFS/2023.02.09/GlobalFoundries Acquires Renesas' Non-Volatile Resistive RAM Technology to Proliferate ...txt b/news/GFS/2023.02.09/GlobalFoundries Acquires Renesas' Non-Volatile Resistive RAM Technology to Proliferate ...txt new file mode 100644 index 0000000000000000000000000000000000000000..c93ff119be8c8f4eeeee7733611f11f5a0b158cb --- /dev/null +++ b/news/GFS/2023.02.09/GlobalFoundries Acquires Renesas' Non-Volatile Resistive RAM Technology to Proliferate ...txt @@ -0,0 +1 @@ +MALTA, N.Y., Feb. 09, 2023 (GLOBE NEWSWIRE) -- GlobalFoundries (Nasdaq: GFS) (GF) today announced that it has acquired Renesas Electronics Corporation (Renesas)’s proprietary and production proven Conductive Bridging Random Access Memory (CBRAM) technology, a low power memory solution designed to enable a range of applications in home and industrial IoT and smart mobile devices.The transaction further strengthens GF’s memory portfolio and extends its roadmap of embedded non-volatile memory (NVM) solutions by adding another reliable, customizable embedded memory solution that is relatively easy to integrate into other technology nodes. Specifically, this technology will enable customers to further differentiate their SoC designs and advance a new generation of secure and intelligent devices.“We’re committed to differentiating our technology portfolio to be the foundation of our customers’ energy efficient IoT applications today and for decades to come,” said Mike Hogan, chief business officer of GF. “With the acquisition of this innovative memory technology, GF is now playing an essential role in accelerating development of NVM solutions which will enable our customers to design the next generation of intelligent and connected devices. CBRAM technology unleashes a new paradigm of performance and ultra-low energy use, enabling a wide range of applications, from wearable devices to smartphones, to extend the time between battery charges from hours to weeks to years in specific use cases.”CBRAM’s low power consumption, high read/write speeds, reduced manufacturing costs and tolerance for harsh environments make it particularly suitable for consumer, medical, and select industrial applications. In 2020, GF entered into a licensing agreement with Dialog Semiconductor, which was acquired by Renesas in 2021, to offer its CBRAM technology as an embedded, NVM option. Today, CBRAM is being qualified on the company’s 22FDX® platform, with plans to extend it to other platforms.About GFGlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. or its subsidiaries. All other trademarks are the property of their respective owners.Forward-looking InformationThis news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless require by law. Media Contact:Erica McGillerica.mcgill@gf.com+1-518-795-52402023 GlobeNewswire, Inc., source Press Releases \ No newline at end of file diff --git a/news/GFS/2023.02.09/GlobalFoundries and GM Announce Long-Term Direct Supply Agreement for U.S. Production o...txt b/news/GFS/2023.02.09/GlobalFoundries and GM Announce Long-Term Direct Supply Agreement for U.S. Production o...txt new file mode 100644 index 0000000000000000000000000000000000000000..395784f6968c84ca90db26c5b3a6ca4a7eb0e2fa --- /dev/null +++ b/news/GFS/2023.02.09/GlobalFoundries and GM Announce Long-Term Direct Supply Agreement for U.S. Production o...txt @@ -0,0 +1,18 @@ + + +MALTA, N.Y. and DETROIT, Feb. 9, 2023 /PRNewswire/ -- General Motors Co. (NYSE: GM) and GlobalFoundries (NASDAQ: GFS) (GF) today announced a strategic, long-term agreement establishing a dedicated capacity corridor exclusively for GM's chip supply.  Through this first-of-its-kind agreement, GF will manufacture for GM's key chip suppliers at GF's advanced semiconductor facility in upstate New York bringing a critical process to the U.S. +This agreement supports GM's strategy to reduce the number of unique chips needed to power increasingly complex and tech-laden vehicles. With this strategy, chips can be produced in higher volumes and are expected to offer better quality and predictability, maximizing high value content creation for the end customer. +Semiconductors are the foundation of the technologies that are powering the electrification, autonomous driving and connectivity of the auto industry, and they have been center stage in the global chip shortage that has impacted automakers the last couple of years. +"We see our semiconductor requirements more than doubling over the next several years as vehicles become technology platforms," said Doug Parks, GM executive vice president of Global Product Development, Purchasing and Supply Chain. "The supply agreement with GlobalFoundries will help establish a strong, resilient supply of critical technology in the U.S. that will help GM meet this demand, while delivering new technology and features to our customers." +"At GF we are committed to working with our customers in new and innovative ways to best address the challenges of today's global supply chains," said Dr. Thomas Caulfield, president and CEO of GF. "GF will expand its production capabilities exclusively for GM's supply chain, enabling us to strengthen our partnership with the automotive industry and New York State, while further accelerating automotive innovation with U.S.-based manufacturing for a more resilient supply chain." +"This first of its kind agreement between GlobalFoundries and General Motors is going to drive the Capital Region economy forward and ensure Upstate New York remains in the driver's seat as one of the nation's leading hubs for semiconductor manufacturing that is so critical to the supply chain of the auto industry. I have long said that Upstate New York's semiconductor corridor will be a major engine powering America's technological future, and now 'Made in New York' chips will help jumpstart the next generation of vehicles for GM across the country," said U.S. Senate Majority Leader Charles Schumer. "Thanks to my CHIPS and Science Act, we are bringing manufacturing back to our country and America's supply chains are being secured, creating good-paying jobs here in Upstate New York, not overseas. This partnership is yet another example that our nation's future will be built in Upstate New York, with the Capital Region as a global center for the future of the microchip industry." +"We're making New York State not only the semiconductor capital of the country — but of the globe," said New York Governor Kathy Hochul. "This agreement will help to further establish New York State as a major hub for semiconductor manufacturing. With our nation-leading Green CHIPS legislation and the new Governor's Office of Semiconductor Expansion, Management, and Integration, we are helping businesses like GM and GlobalFoundries expand the chips manufacturing ecosystem in our state, creating jobs and opportunities for generations to come." +GF is responding to the global demand for semiconductors through a series of strategic long-term agreements with existing and new customers and simultaneously expanding global capacity to meet customer demand in partnership with federal and local governments. Supportive policies like the bipartisan CHIPS and Science Act are encouraging the onshoring of semiconductor production and reestablishing the U.S. as a global leader of this critical technology.  +About General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com. +About GF GlobalFoundries (GF) is one of the world's leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com. +©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. Or its subsidiaries. All other trademarks are the property of their respective owners. +Forward-looking Information This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless require by law.  + View original content:https://www.prnewswire.com/news-releases/globalfoundries-and-gm-announce-long-term-direct-supply-agreement-for-us-production-of-semiconductor-chips-301743257.html +SOURCE General Motors Co. + + diff --git a/news/GFS/2023.02.13/Onsemi Commemorates Transfer of Ownership of East Fishkill, New York Facility from Glob...txt b/news/GFS/2023.02.13/Onsemi Commemorates Transfer of Ownership of East Fishkill, New York Facility from Glob...txt new file mode 100644 index 0000000000000000000000000000000000000000..31ad733ced6a520421b1bdff71c53d38a6c98cbc --- /dev/null +++ b/news/GFS/2023.02.13/Onsemi Commemorates Transfer of Ownership of East Fishkill, New York Facility from Glob...txt @@ -0,0 +1 @@ +PHOENIX - onsemi (Nasdaq: ON) a leader in intelligent power and sensing technologies, today announced the successful completion of its acquisition of GlobalFoundries' (GF's) 300 mm East Fishkill (EFK), New York site and fabrication facility, effective December 31, 2022.The transaction added more than 1,000 world-class technologists and engineers to the onsemi team. Highlighting the importance of manufacturing semiconductors in the U.S., the company celebrated this milestone event with a ribbon-cutting ceremony led by Senate Majority Leader Chuck Schumer (NY), joined by Senior Advisor to the Secretary of Commerce on CHIPS Implementation J.D. Grom. Also in attendance were several other local governmental dignitaries.Over the last three years, onsemi has been focusing on securing a long-term future for the EFK facility and its employees, making significant investments in its 300 mm capabilities to accelerate growth in the company's power, analog and sensing products, and enable an improved manufacturing cost structure. The EFK fab is the largest onsemi manufacturing facility in the U.S., adding advanced CMOS capabilities - including 40 nm and 65 nm technology nodes with specialized processing capabilities required for image sensor production - to the company's manufacturing profile. The transaction includes an exclusive commitment to supply GF with differentiated semiconductor solutions and investments in research and development as both companies collaborate to build on future growth.'With today's ribbon cutting, onsemi will preserve more than 1,000 local jobs, continue to boost the state's leadership in the semiconductor industry, and supply 'Made in New York' chips for everything from electric vehicles to energy infrastructure across the country,' said Senator Schumer. 'I am elated that onsemi has officially made East Fishkill home to its leading and largest manufacturing fab in the U.S. onsemi has already hired nearly 100 new people and invested committed $1.3 billion to continue the Hudson Valley's rich history of science and technology for future generations. I have long said that New York had all the right ingredients to rebuild our nation's semiconductor industry, and personally met with onsemi's top brass multiple times to emphasize this as I was working on my historic CHIPS legislation. Thanks to my CHIPS and Science Act, we are bringing manufacturing back to our country and strengthening our supply chains with investments like onsemi's in the Hudson Valley.'The EFK facility contributes to the community by retaining more than 1,000 jobs. With the recent passage of the Federal CHIPS and Science Act as well as the New York Green CHIPS Program, onsemi will continue to evaluate opportunities for expansion and growth in East Fishkill and its contribution to the surrounding community. Earlier today, the Rochester Institute of Technology (RIT) announced that onsemi has pledged to donate $500,000 over 10 years to support projects and education aimed at increasing the pipeline of engineers in the semiconductor industry.'onsemi appreciates Senate Majority Leader Schumer's unwavering commitment to ensure American leadership in semiconductors and chip manufacturing investments in New York,' said Hassane El-Khoury, president and chief executive officer, onsemi. 'With the addition of EFK to our manufacturing footprint, onsemi will have the only 12-inch power discrete and image sensor fab in the U.S., enabling us to accelerate our growth in the megatrends of vehicle electrification, ADAS, energy infrastructure and factory automation. We look forward to working with Empire State Development and local government officials to find key community programs and educational partnerships that will allow us to identify, train and employ the next generation of semiconductor talent in New York.'About onsemionsemi (Nasdaq: ON) is driving disruptive innovations to help build a better future. With a focus on automotive and industrial end-markets, the company is accelerating change in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure. onsemi offers a highly differentiated and innovative product portfolio, delivering intelligent power and sensing technologies that solve the world's most complex challenges and leads the way to creating a safer, cleaner, and smarter world. onsemi is recognized as a Fortune 500 company and included in the S&P 500 index.onsemi and the onsemi logo are trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the Company references its website in this news release, information on the website is not to be incorporated herein.Contact:Tel: (602)-244-6600(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/GFS/2023.02.14/Globalfoundries : Q4 2022 Earnings Presentation.txt b/news/GFS/2023.02.14/Globalfoundries : Q4 2022 Earnings Presentation.txt new file mode 100644 index 0000000000000000000000000000000000000000..feeea04b74ad90854a3c351a7526f4e617eeae7a --- /dev/null +++ b/news/GFS/2023.02.14/Globalfoundries : Q4 2022 Earnings Presentation.txt @@ -0,0 +1,479 @@ + + + + Fourth Quarter and Full Year 2022 Financial + + +Results (unaudited) + + + February 14, 2023 + + + + + + Disclaimer + + + This presentation and the accompanying oral presentation include "forward-looking statements," that reflect our current expectations and views of future events. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and include but are not limited to, statements regarding our financial outlook, future guidance, product development, business strategy and plans, and market trends, opportunities and positioning. These statements are based on current expectations, assumptions, estimates, forecasts, projections and limited information available at the time they are made. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall," "outlook," "on track," and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a broad variety of risks and uncertainties, both known and unknown. Any inaccuracy in our assumptions and estimates could affect the realization of the expectations or forecasts in these forward-looking statements. For example, our business could be impacted by the COVID-19 pandemic and supply chain disruptions due to the Russia/Ukraine conflict and actions taken in response to such events; the market for our products may develop more slowly than expected or than it has in the past; our operating results may fluctuate more than expected; there may be significant fluctuations in our results of operations and cash flows related to our revenue recognition or otherwise; a network or data security incident that allows unauthorized access to our network or data or our customers' data could damage our reputation; we could experience interruptions or performance problems associated with our technology, including a service outage; and global economic conditions could deteriorate, including due to increasing interest rates, rising inflation, and any potential recession. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Moreover, we operate in a competitive and rapidly changing market, and new risks may emerge from time to time. You should not rely upon forward-looking statements as predictions of future events. These statements are based on our historical performance and on our current plans, estimates and projections in light of information currently available to us, and therefore you should not place undue reliance on them. + + + Although we believe that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assumes responsibility for the accuracy and completeness of these statements. Recipients are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. Except to the extent required by federal securities laws, we undertake no obligation to update any information or any forward-looking statements as a result of new information, subsequent events, or any other circumstances after the date hereof, or to reflect the occurrence of unanticipated events. For a discussion of potential risks and uncertainties, please refer to the risk factors and cautionary statements in our 2021 Annual Report on Form 20-F, current reports on Form 6-K and other reports filed with the Securities and Exchange Commission. Copies of our SEC filings are available on our Investor Relations website, investors.gf.com, or from the SEC website, www.sec.gov. + + + This presentation and the accompanying oral presentation also contain estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry and business. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We have not independently verified the industry data generated by independent parties and contained in this presentation and, accordingly, we cannot guarantee their accuracy or completeness. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we compete are necessarily subject to a high degree of uncertainty and risk. + + + In addition to the financial information presented in accordance with IFRS, this presentation and the accompanying oral presentation include the following adjusted non-IFRS metrics: adjusted gross profit, adjusted operating profit, adjusted net income (loss), adjusted diluted earnings (loss) per share ("EPS"), adjusted EBITDA, adjusted operating margin and adjusted EBITDA margin. We define adjusted gross profit (loss) as gross profit (loss) adjusted for share-based compensation expense. We define adjusted operating profit (loss) as profit (loss) from operations adjusted for share-based compensation expense. We define adjusted net income (loss) as net income (loss) adjusted for share-based compensation expense, restructuring charges, and the associated tax impact. We define adjusted diluted EPS as adjusted net income (loss) divided by the dilutive shares. We define adjusted EBITDA as net income (loss), adjusted for the impact of finance expense, finance income, income tax expense, depreciation, amortization, share-based compensation expense, transaction gains and associated expenses, restructuring charges, labor optimization initiatives, and litigation settlements. We define adjusted operating margin as adjusted operating profit (loss) divided by net revenue. We define adjusted EBITDA margin as adjusted EBITDA divided by net revenue. + + + We believe that in addition to our results determined in accordance with IFRS, these adjusted non-IFRS measures provide useful information to both management and investors in measuring our financial performance and condition and highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures. These adjusted non-IFRS financial measures provide supplemental information regarding our operating performance that excludes certain gains, losses and non-cash charges that occur relatively infrequently and/or that we consider to be unrelated to our core operations. For further information regarding these non-IFRS measures, please refer to the Appendix. + + + Adjusted non-IFRS financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS. Our presentation of adjusted non-IFRS measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items. Other companies in our industry may calculate these measures differently, which may limit their usefulness as a comparative measure. + + + + + + + + GlobalFoundries © 2023 All Rights Reserved + + + + + 2 + + + + + + + + + + + + + + Q4'22 and 2022 Results + + + + + 3 + + + + + + + Key Q4'22 Results + + + (Unaudited) + + + + + + Revenue + + + Millions USD + + + + + + +14% + + + + + + + + + + + 2,101 + + + + + + + 1,847 + + + + + + + + + Q4'21 + + + + + Q4'22 + + + + + + + + Adjusted EBITDA & Margin + + + Millions USD + + + + + + +41% + + + + + + + + + + + 821 + + + + + + + 584 + + + + + + + + + + + 39.1% + + + + + + + 31.6% + + + + + + + + + Q4'21 + + + + + Q4'22 + + + + + + + + Wafer Shipments + + + 300mm equivalents (k) + + + -7% + + + + + + 622 + + + + + 580 + + + + + + + + + + + Q4'21 + + + + + Q4'22 + + + + + + + + + Note: + + + We define adjusted EBITDA as net income (loss), excluding the impact of finance income, finance expense, income tax expense, depreciation, amortization, share-based compensation expense, transaction gains and associated expenses, restructuring charges, labor optimization initiatives, and litigation settlements; a reconciliation of adjusted non-IFRS to IFRS metrics can be found in the Appendix. Effective Q3'22, the Company has revised its definition of Adjusted EBITDA to include an adjustment for finance income. + + + + + + + + GlobalFoundries © 2023 All Rights Reserved + + + + + 4 + + + + + + + + + + + + + + Key 2022 Results + + + (Unaudited) + + + + + + Revenue + + + Millions USD + + + + + + +23% + + + + + + + + + + + 8,108 + + + + + + + 6,585 + + + + + + + + + 2021 + + + + + 2022 + + + + + + + + Adjusted EBITDA & Margin + + + Millions USD + + + + + + +67% + + + + + + + + + + + 3,088 + + + + + + + 1,848 + + + + + 38.1% + + + + + + + + + + + 28.1% + + + + + + + + + 2021 + + + + + 2022 + + + + + + + + Wafer Shipments + + + 300mm equivalents (k) + + + +4% + + + + + + 2,374 + + + + + 2,472 + + + + + + + + + + + 2021 + + + + + 2022 + + + + + + + + + Note: + + + We define adjusted EBITDA as net income (loss), excluding the impact of finance income, finance expense, income tax expense, depreciation, amortization, share-based compensation expense, transaction gains and associated expenses, restructuring charges, labor optimization initiatives, and litigation settlements; a reconciliation of adjusted non-IFRS to IFRS metrics can be found in the Appendix. Effective Q3'22, the Company has revised its definition of Adjusted EBITDA to include an adjustment for finance income. + + + + + + + + GlobalFoundries © 2023 All Rights Reserved + + + + + 5 + + + + + + + + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +GLOBALFOUNDRIES Inc. published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2023 12:41:04 UTC. + + diff --git a/news/GFS/2023.02.14/Globalfoundries : Reports Fourth Quarter and Fiscal Year 2022 Financial Results - Form 6-K.txt b/news/GFS/2023.02.14/Globalfoundries : Reports Fourth Quarter and Fiscal Year 2022 Financial Results - Form 6-K.txt new file mode 100644 index 0000000000000000000000000000000000000000..8b37925e1a12266e201ebafd9dbba43e67ff5537 --- /dev/null +++ b/news/GFS/2023.02.14/Globalfoundries : Reports Fourth Quarter and Fiscal Year 2022 Financial Results - Form 6-K.txt @@ -0,0 +1,4402 @@ + + + GlobalFoundries Reports Fourth Quarter and Fiscal Year 2022 Financial Results + + + Record Revenue, Gross Margin, Adjusted EBITDA, and Net Income + + + + + + Malta, New York, February 14, 2023 - GlobalFoundries Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the fourth quarter and fiscal year ended December 31, 2022. + + + Key Fourth Quarter Financial Highlights + + + •Revenue of $2,101 million, up 14% year-over-year. + + + •Gross margin of 29.6% and adjusted gross margin of 30.1%. + + + •Net income of $668 million. + + + •Adjusted EBITDA of $821 million. + + + •Cash, cash equivalents and marketable securities of $3,346 million. + + + Key Full Year 2022 Financial Highlights + + + •Revenue of $8,108 million, up 23% year-over-year. + + + •Gross margin of 27.6% and adjusted gross margin of 28.4%. + + + •Net income margin of 17.8% and adjusted EBITDA margin of 38.1%. + + + + + + "Our revenue in 2022 grew 23% year-over-year, and we delivered record gross margin and net income, making significant progress toward our long-term financial model," said CEO Dr. Thomas Caulfield. "In the fourth quarter, the GF team continued to execute on its commitments to customers and shareholders, despite the well-publicized inventory correction. As we look to 2023, we will continue to deepen our engagements with our customers in bringing specialty and differentiated solutions to market." + + + + + + Recent Business Highlights + + + + + + •GF and General Motors jointly announced that General Motors has entered into a long-term agreement with GF to secure a capacity corridor in our advanced Fab in Upstate NY for GM's U.S. supply chain. This first-of-its-kind, multi-year agreement brings a critical process to the U.S. and supports GM's strategy to reduce the number of unique chips needed to power increasingly complex and tech-laden vehicles. + + + + + + •GF announced that it has acquired Renesas Electronics Corporation's proprietary and production-proven Conductive Bridging Random Access Memory (CBRAM) Technology, a low power memory solution designed to enable a range of applications in home and industrial IoT and smart mobile devices. The transaction further strengthens GF's memory portfolio and extends its roadmap of embedded nonvolatile memory solutions that is easy to integrate into other technology nodes. + + + + + + •GF completed the sale of its East Fishkill, NY, facility to onsemi, on December 31, 2022, for a final purchase price of $406m. The deal enables GlobalFoundries to further optimize our assets globally and intensify our investments in the differentiated technologies that fuel our growth while securing a long-term future for the East Fishkill facility and its employees. + + + + + + Page 1 of 10 + + + + + + Unaudited Summary Quarterly Results (in millions USD, except per share amounts and wafer shipments) + + + + + + + + + + + + + Year-over-year + + + Sequential + + + + + Q4'22 + + + Q3'22 + + + Q4'21 + + + Q4'22 vs Q4'21 + + + Q4'22 vs Q3'22 + + + + + + + + + Net revenue + + + $ + + + 2,101 + + + $ + + + 2,074 + + + $ + + + 1,847 + + + $ + + + 254 + + + 14 + + + % + + + $ + + + 27 + + + 1 + + + % + + + + + + + + + Gross profit + + + 622 + + + 610 + + + 384 + + + $ + + + 238 + + + 62 + + + % + + + $ + + + 12 + + + 2 + + + % + + + + + Gross margin + + + 29.6 + + + % + + + 29.4 + + + % + + + 20.8 + + + % + + + +880bps + + + +20bps + + + + + + + + + + Adjusted gross profit(1) + + + + $ + + + 633 + + + $ + + + 621 + + + $ + + + 397 + + + $ + + + 236 + + + 59 + + + % + + + $ + + + 12 + + + 2 + + + % + + + + + Adjusted gross margin + + + 30.1 + + + % + + + 29.9 + + + % + + + 21.5 + + + % + + + +860bps + + + +20bps + + + + + + + + + Operating profit + + + $ + + + 288 + + + $ + + + 357 + + + $ + + + 87 + + + $ + + + 201 + + + 231 + + + % + + + $ + + + (69) + + + (19) + + + % + + + + + Operating margin + + + 13.7 + + + % + + + 17.2 + + + % + + + 4.7 + + + % + + + +900bps + + + (350)bps + + + + + + + + + + Adjusted operating profit(1) + + + + $ + + + 425 + + + $ + + + 389 + + + $ + + + 142 + + + $ + + + 283 + + + 199 + + + % + + + $ + + + 36 + + + 9 + + + % + + + + + Adjusted operating margin + + + 20.2 + + + % + + + 18.8 + + + % + + + 7.7 + + + % + + + +1,250bps + + + +140bps + + + + + + + + + + Net income(2) + + + + $ + + + 668 + + + $ + + + 336 + + + $ + + + 43 + + + $ + + + 625 + + + 1,453 + + + % + + + $ + + + 332 + + + 99 + + + % + + + + + Net income margin + + + 31.8 + + + % + + + 16.2 + + + % + + + 2.3 + + + % + + + +2,950bps + + + +1,560bps + + + + + + + + + + Adjusted net income(1)(2)(3) + + + + $ + + + 800 + + + $ + + + 368 + + + $ + + + 98 + + + $ + + + 702 + + + 716 + + + % + + + $ + + + 432 + + + 117 + + + % + + + + + Adjusted net income margin + + + 38.1 + + + % + + + 17.7 + + + % + + + 5.3 + + + % + + + +3,280bps + + + +2,040bps + + + + + + + + + Diluted earnings per share ("EPS") + + + $ + + + 1.21 + + + $ + + + 0.61 + + + $ + + + 0.08 + + + $ + + + 1.13 + + + 1,413 + + + % + + + $ + + + 0.60 + + + 98 + + + % + + + + + + + + + + Adjusted diluted earnings per share(1) + + + + $ + + + 1.44 + + + $ + + + 0.67 + + + $ + + + 0.18 + + + $ + + + 1.26 + + + 700 + + + % + + + $ + + + 0.77 + + + 115 + + + % + + + + + + + + + + Adjusted EBITDA(1)(4) + + + + $ + + + 821 + + + $ + + + 793 + + + $ + + + 584 + + + $ + + + 237 + + + 41 + + + % + + + $ + + + 28 + + + 4 + + + % + + + + + Adjusted EBITDA margin + + + 39.1 + + + % + + + 38.2 + + + % + + + 31.6 + + + % + + + +750bps + + + +90bps + + + + + + + + + Cash from operations + + + $ + + + 491 + + + $ + + + 679 + + + $ + + + 1,148 + + + $ + + + (657) + + + (57) + + + % + + + $ + + + (188) + + + (28) + + + % + + + + + + + + + Wafer shipments (300mm equivalent) (in thousands) + + + 580 + + + 637 + + + 622 + + + (42) + + + (7) + + + % + + + (57) + + + (9) + + + % + + + + + + + + + + (1) Adjusted gross profit, adjusted operating profit, adjusted net income, adjusted diluted earnings per share, and adjusted EBITDA are adjusted non-IFRS metrics; please see the reconciliation of IFRS to adjusted non-IFRS metrics in the section "Unaudited Reconciliation of IFRS to Adjusted non-IFRS" below. + + + + + + (2) Includes the gain on sale of our EFK business in December 2022. + + + + + + (3) Beginning in Q4 2022, the Company has revised its definition of adjusted net income to include an adjustment for restructuring charges and the associated tax impact. The change was made due to a restructuring undertaken in Q4 2022. The Company believes the revised definition provides management and investors with more useful information to evaluate the operations of our business. Adjusted net income (loss) is now defined as net income (loss) adjusted for share-based compensation expense, restructuring charges and the associated tax impact. + + + + + + (4) Beginning in Q3 2022, the Company has revised its definition of adjusted EBITDA to include an adjustment for finance income. The change was made due to the Company making an investment during Q2 2022 of approximately $1.0 billion in marketable securities. The Company believes the revised definition provides management and investors more useful information to evaluate the operations of our business. Adjusted EBITDA is now defined as net income (loss), adjusted for the impact of finance expense, finance income, income tax expense, depreciation, amortization, share-based compensation expense, transaction gains and associated expenses, restructuring charges, labor optimization initiatives and litigation settlement. + + + + + + Page 2 of 10 + + + + + + Unaudited Summary Annual Results (in millions USD, except per share amounts and wafer shipments) + + + + + + + + + + + + + Year-over-year + + + + + FY2022 + + + FY2021 + + + FY22 vs FY21 + + + + + + + + + Net revenue + + + $ + + + 8,108 + + + $ + + + 6,585 + + + $ + + + 1,523 + + + 23 + + + % + + + + + + + + + Gross profit + + + 2,239 + + + $ + + + 1,013 + + + $ + + + 1,226 + + + 121 + + + % + + + + + Gross margin + + + 27.6 + + + % + + + 15.4 + + + % + + + +1,220bps + + + + + + + + + + Adjusted gross profit(1) + + + + $ + + + 2,303 + + + $ + + + 1,068 + + + $ + + + 1,235 + + + 116 + + + % + + + + + Adjusted gross margin + + + 28.4 + + + % + + + 16.2 + + + % + + + +1,220bps + + + + + + + + + Operating profit (loss) + + + $ + + + 1,167 + + + $ + + + (60) + + + $ + + + 1,227 + + + 2,045 + + + % + + + + + Operating margin + + + 14.4 + + + % + + + (0.9) + + + % + + + +1,530bps + + + + + + + + + + Adjusted operating profit(1) + + + + $ + + + 1,443 + + + $ + + + 168 + + + $ + + + 1,275 + + + 759 + + + % + + + + + Adjusted operating margin + + + 17.8 + + + % + + + 2.6 + + + % + + + +1,520bps + + + + + + + + + + Net income (loss)(2) + + + + $ + + + 1,446 + + + $ + + + (254) + + + $ + + + 1,700 + + + 669 + + + % + + + + + Net income margin + + + 17.8 + + + % + + + (3.9) + + + % + + + +2,170bps + + + + + + + + + + Adjusted net income (loss)(1)(2)(3) + + + + $ + + + 1,717 + + + $ + + + (26) + + + $ + + + 1,743 + + + 6,704 + + + % + + + + + Adjusted net income(loss) margin + + + 21.2 + + + % + + + (0.4) + + + % + + + +2,160bps + + + + + + + + + Diluted EPS + + + $ + + + 2.62 + + + $ + + + (0.49) + + + $ + + + 3.11 + + + 635 + + + % + + + + + + + + + + Adjusted diluted earnings per share(1) + + + + $ + + + 3.11 + + + $ + + + (0.05) + + + $ + + + 3.16 + + + 6,320 + + + % + + + + + + + + + + Adjusted EBITDA(1)(4) + + + + $ + + + 3,088 + + + $ + + + 1,848 + + + $ + + + 1,240 + + + 67 + + + % + + + + + Adjusted EBITDA margin + + + 38.1 + + + % + + + 28.1 + + + % + + + +1,000bps + + + + + + + + + Cash from operations + + + $ + + + 2,624 + + + $ + + + 2,839 + + + $ + + + (215) + + + 8 + + + % + + + + + + + + + Wafer shipments (300mm equivalent) (in thousands) + + + 2,472 + + + 2,374 + + + 98 + + + 4 + + + % + + + + + + + + + + (1) Adjusted gross profit, adjusted operating profit, adjusted net income, adjusted diluted earnings per share, and adjusted EBITDA are adjusted non-IFRS metrics; please see the reconciliation of IFRS to adjusted non-IFRS metrics in the section "Unaudited Reconciliation of IFRS to Adjusted non-IFRS" below. + + + + + + (2) Includes the gain on sale of our EFK business in December 2022. + + + + + + (3) Beginning in Q4 2022, the Company has revised its definition of adjusted net income to include an adjustment for restructuring charges and the associated tax impact. The change was made due to a restructuring undertaken in Q4 2022. The Company believes the revised definition provides management and investors with more useful information to evaluate the operations of our business. Adjusted net income (loss) is now defined as net income (loss) adjusted for share-based compensation expense, restructuring charges and the associated tax impact. + + + + + + (4) Beginning in Q3 2022, the Company has revised its definition of adjusted EBITDA to include an adjustment for finance income. The change was made due to the Company making an investment during Q2 2022 of approximately $1.0 billion in marketable securities. The Company believes the revised definition provides management and investors more useful information to evaluate the operations of our business. Adjusted EBITDA is now defined as net income (loss), adjusted for the impact of finance expense, finance income, income tax expense, depreciation, amortization, share-based compensation expense, transaction gains and associated expenses, restructuring charges, labor optimization initiatives and litigation settlement. + + + Page 3 of 10 + + + + + + + + + Summary of First Quarter 2023 Outlook (unaudited in millions USD, except per share amounts)(1) + + + + + + + + + + + + + IFRS + + + Share-based compensation + + + Non-IFRS Adjusted + + + + + Net revenue + + + $1,810 - $1,850 + + + - + + + - + + + + + Gross Profit + + + $481 - $512 + + + $15- $17 + + + $498 - $527 + + + + + Gross Margin (mid-point) + + + 27.1% + + + 28.0% + + + + + Operating Profit + + + $233 - $282 + + + $40 - $50 + + + $283 - $322 + + + + + Operating Margin (mid-point) + + + 14.1% + + + 16.5% + + + + + Net Income + + + $202 - $257 + + + $40 - $50 + + + $252 - $297 + + + + + Net Income Margin (mid-point) + + + 12.5% + + + 15.0% + + + + + Diluted EPS + + + $0.36 - $0.46 + + + $0.45 - $0.53 + + + + + + Adjusted EBITDA(2) + + + + NA + + + $667 - $722 + + + + + Adj. EBITDA Margin (mid-point) + + + 37.9% + + + + + + (1)The guidance provided above contains forward-looking statements as defined in the U.S. Private Securities Litigation Act of 1995, and is subject to the safe harbors created therein. The guidance includes management's beliefs and assumptions and is based on information currently available. GF has not provided a reconciliation of its First Fiscal Quarter outlook for adjusted Non-IFRS EBITDA and related Margin because estimates of all of the reconciling items cannot be provided without unreasonable efforts. Certain factors that are materially significant to GF's ability to estimate these items are out of its control and/or cannot be reasonably predicted. + + + + + + (2)Reflects change to adjusted EBITDA definition discussed in more detail elsewhere in this release. + + + + + + Unaudited Consolidated Statements of Operations + + + + + + + + + + + + + Three Months Ended + + + Year Ended + + + + + (in millions USD, except for per share amounts) + + + December 31, 2022 + + + December 31, 2021 + + + December 31, 2022 + + + December 31, 2021 + + + + + + + + + Net revenue + + + $ + + + 2,101 + + + $ + + + 1,847 + + + $ + + + 8,108 + + + $ + + + 6,585 + + + + + Cost of revenue + + + 1,479 + + + 1,463 + + + 5,869 + + + 5,572 + + + + + Gross profit + + + $ + + + 622 + + + $ + + + 384 + + + $ + + + 2,239 + + + $ + + + 1,013 + + + + + Operating expenses: + + + + + Research and development + + + 110 + + + 130 + + + 482 + + + 478 + + + + + Sales, marketing, general and administrative + + + 130 + + + 167 + + + 496 + + + 595 + + + + + Restructuring charges + + + 94 + + + - 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+ + + + + Inventories + + + 1,339 + + + 1,121 + + + + + Current assets + + + $ + + + 5,800 + + + $ + + + 5,291 + + + + + Deferred tax assets + + + $ + + + 292 + + + $ + + + 353 + + + + + Property, plant, and equipment, net + + + 10,596 + + + 8,713 + + + + + Marketable securities + + + 372 + + + - + + + + + Other assets + + + 781 + + + 671 + + + + + Non-current assets + + + $ + + + 12,041 + + + $ + + + 9,737 + + + + + Total assets + + + $ + + + 17,841 + + + $ + + + 15,028 + + + + + Liabilities and equity: + + + + + Current portion of long-term debt + + + $ + + + 223 + + + $ + + + 297 + + + + + Other current liabilities + + + 3,136 + + + 2,866 + + + + + Current liabilities + + + $ + + + 3,359 + + + $ + + + 3,163 + + + + + Non-current portion of long-term debt + + + $ + + + 2,288 + + + $ + + + 1,716 + + + + + Other liabilities + + + 2,234 + + + 2,116 + + + + + Non-current liabilities + + + $ + + + 4,522 + + + $ + + + 3,832 + + + + + Shareholders' equity: + + + + + Common stock/additional paid-in capital + + + $ + + + 23,842 + + + $ + + + 23,498 + + + + + Accumulated deficit + + + (14,021) + + + (15,469) + + + + + Accumulated other comprehensive (loss) + + + 92 + + + (54) + + + + + Non-controlling interest + + + 47 + + + 58 + + + + + Total liabilities and equity + + + $ + + + 17,841 + + + $ + + + 15,028 + + + + + + + + + Page 5 of 10 + + + + + + + + + Unaudited Consolidated Statements of Cash Flows + + + + + + + + + + + + + Three Months Ended + + + Year Ended + + + + + (in millions USD) + + + December 31, 2022 + + + December 31, 2021 + + + December 31, 2022 + + + December 31, 2021 + + + + + + + + + Cash flows from operating activities: + + + + + Net income (loss) + + + $ + + + 668 + + + $ + + + 43 + + + $ + + + 1,446 + + + $ + + + (254) + + + + + Depreciation and amortization + + + 409 + + + 419 + + + 1,623 + + + 1,619 + + + + + Gain on the sale of a fabrication facility + + + (403) + + + - 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+ + + - + + + - + + + (568) + + + + + Proceeds (repayment) of debt, net + + + 255 + + + (72) + + + 581 + + + (343) + + + + + Other financing activities + + + 93 + + + 27 + + + 93 + + + 117 + + + + + Net cash provided by financing activities + + + $ + + + 360 + + + $ + + + 1,399 + + + $ + + + 842 + + + 842,000,000 + + + $ + + + 650 + + + + + Effect of exchange rate changes + + + 11 + + + (1) + + + 5 + + + (8) + + + + + Net change in cash and cash equivalents + + + $ + + + (189) + + + $ + + + 1,920 + + + $ + + + (587) + + + $ + + + 2,031 + + + + + Cash and cash equivalents at the beginning of the period + + + 2,541 + + + 1,019 + + + 2,939 + + + 908 + + + + + Cash and cash equivalents at the end of the period + + + $ + + + 2,352 + + + $ + + + 2,939 + + + $ + + + 2,352 + + + $ + + + 2,939 + + + + + + + + + + + + + + (1) Finance expense, net and other has been adjusted to include interest and taxes paid that were previously included in "Other non-cash operating activities." Prior period amounts have been adjusted accordingly. + + + + + + + Page 6 of 10 + + + + + + + + + Unaudited Reconciliation of IFRS to Adjusted Non-IFRS + + + + + + + + + + Three Months Ended + + + Year Ended + + + + + (in millions USD) + + + December 31, 2022 + + + September 30, 2022 + + + December 31, 2021 + + + December 31, 2022 + + + December 31, 2021 + + + + + + + + + Gross profit + + + $ + + + 622 + + + $ + + + 610 + + + $ + + + 384 + + + $ + + + 2,239 + + + $ + + + 1,013 + + + + + Gross profit margin + + + 29.6 + + + % + + + 29.4 + + + % + + + 20.8 + + + % + + + 27.6 + + + % + + + 15.4 + + + % + + + + + Share based compensation + + + $ + + + 11 + + + $ + + + 11 + + + $ + + + 13 + + + $ + + + 64 + + + $ + + + 55 + + + + + Adjusted gross profit + + + $ + + + 633 + + + $ + + + 621 + + + $ + + + 397 + + + $ + + + 2,303 + + + $ + + + 1,068 + + + + + Adjusted gross margin + + + 30.1 + + + % + + + 29.9 + + + % + + + 21.5 + + + % + + + 28.4 + + + % + + + 16.2 + + + % + + + + + + + + + Operating profit (loss) + + + $ + + + 288 + + + $ + + + 357 + + + $ + + + 87 + + + $ + + + 1,167 + + + $ + + + (60) + + + + + Operating profit margin + + + 13.7 + + + % + + + 17.2 + + + % + + + 4.7 + + + % + + + 14.4 + + + % + + + (0.9) + + + % + + + + + Share based compensation + + + $ + + + 43 + + + $ + + + 32 + + + $ + + + 55 + + + $ + + + 182 + + + $ + + + 228 + + + + + + Restructuring charges(1) + + + + $ + + + 94 + + + - + + + - + + + $ + + + 94 + + + - + + + + + Adjusted operating profit + + + $ + + + 425 + + + $ + + + 389 + + + $ + + + 142 + + + $ + + + 1,443 + + + $ + + + 168 + + + + + Adjusted operating profit margin + + + 20.2 + + + % + + + 18.8 + + + % + + + 7.7 + + + % + + + 17.8 + + + % + + + 2.6 + + + % + + + + + + + + + + Net income (loss)(2) + + + + $ + + + 668 + + + $ + + + 336 + + + $ + + + 43 + + + $ + + + 1,446 + + + $ + + + (254) + + + + + Net income (loss) margin + + + 31.8 + + + % + + + 16.2 + + + % + + + 2.3 + + + % + + + 17.8 + + + % + + + (3.9) + + + % + + + + + Share based compensation + + + $ + + + 43 + + + $ + + + 32 + + + $ + + + 55 + + + $ + + + 182 + + + $ + + + 228 + + + + + + Restructuring charges(1) + + + + $ + + + 94 + + + - + + + - + + + $ + + + 94 + + + - + + + + + + Income tax effect(3) + + + + $ + + + (5) + + + $ + + + - + + + $ + + + - + + + $ + + + (5) + + + $ + + + - + + + + + + Adjusted net income (loss)(4) + + + + $ + + + 800 + + + $ + + + 368 + + + $ + + + 98 + + + $ + + + 1,717 + + + $ + + + (26) + + + + + Adjusted net income (loss) margin + + + 38.1 + + + % + + + 17.7 + + + % + + + 5.3 + + + % + + + 21.2 + + + % + + + (0.4) + + + % + + + + + + + + + Diluted earnings (loss) per share + + + $ + + + 1.21 + + + $ + + + 0.61 + + + $ + + + 0.08 + + + $ + + + 2.62 + + + $ + + + (0.49) + + + + + Share based compensation + + + $ + + + 0.07 + + + $ + + + 0.06 + + + $ + + + 0.10 + + + $ + + + 0.33 + + + $ + + + 0.44 + + + + + + Restructuring charges(1) + + + + $ + + + 0.17 + + + - + + + - + + + $ + + + 0.17 + + + - + + + + + Income tax effect + + + $ + + + (0.01) + + + - + + + - + + + $ + + + (0.01) + + + - + + + + + Adjusted diluted earnings (loss) per share + + + $ + + + 1.44 + + + $ + + + 0.67 + + + $ + + + 0.18 + + + $ + + + 3.11 + + + $ + + + (0.05) + + + + + + + + + (1) Includes $3.1 million of share based compensation in Q4 2022. + + + + + + (2)Includes the gain on sale of our EFK business in December 2022. + + + + + + (3) Relates to restructuring charges in Q4 2022. + + + + + + (4) Reflects change to adjusted net income (loss) definition discussed in more detail elsewhere in this release. + + + + + + Page 7 of 10 + + + + + + + + + Unaudited Reconciliation of Net Income to Adjusted EBITDA + + + + + + + + + + Three Months Ended + + + Year Ended + + + + + (in millions USD) + + + December 31, 2022 + + + September 30, 2022 + + + December 31, 2021 + + + December 31, 2022 + + + December 31, 2021 + + + + + + + + + Net income for the period + + + $ + + + 668 + + + $ + + + 336 + + + $ + + + 43 + + + $ + + + 1,446 + + + $ + + + (254) + + + + + Depreciation and amortization + + + 409 + + + 395 + + + 419 + + + 1,623 + + + 1,619 + + + + + Finance expense + + + 28 + + + 28 + + + 28 + + + 111 + + + 114 + + + + + Finance income + + + (26) + + + (17) + + + NA + + + (51) + + + NA + + + + + Income tax expense + + + 8 + + + 19 + + + 26 + + + 86 + + + 78 + + + + + Share based compensation + + + 43 + + + 32 + + + 55 + + + 182 + + + 228 + + + + + + Restructuring charges(1) + + + + 94 + + + - + + + - + + + 94 + + + - + + + + + Labor optimization initiatives + + + - + + + - + + + 5 + + + - + + + 17 + + + + + + (Gains) on transactions, legal settlements and transaction expenses(2) + + + + (403) + + + - + + + 8 + + + (403) + + + 46 + + + + + + Adjusted EBITDA(3) + + + + $ + + + 821 + + + $ + + + 793 + + + $ + + + 584 + + + $ + + + 3,088 + + + $ + + + 1,848 + + + + + Adjusted EBITDA margin + + + 39.1 + + + % + + + 38.2 + + + % + + + 31.6 + + + % + + + 38.1 + + + % + + + 28.1 + + + % + + + + + + + + + (1) Includes $3.1 million of share-based compensation in Q4 2022. + + + + + + (2)Activity for the year ended December 31, 2022, relates to the gain on sale of our EFK business. + + + + + + (3)Reflects change to adjusted EBITDA definition discussed in more detail elsewhere in this release. + + + Page 8 of 10 + + + + + + Adjusted Financial Measures (Non-IFRS) + + + + + + In addition to the financial information presented in accordance with IFRS, this press release includes the following adjusted non-IFRS metrics: adjusted gross profit, adjusted operating profit, adjusted net income (loss), adjusted diluted earnings (loss) per share and adjusted EBITDA. We define adjusted gross profit as gross profit adjusted for share-based compensation expense. We define adjusted operating profit as profit from operations adjusted for share-based compensation expense and restructuring charges. We define adjusted net income (loss) as net income (loss) adjusted for share-based compensation expense, restructuring charges and the associated tax impact. We define adjusted diluted EPS as adjusted net income (loss) divided by the dilutive shares. We define adjusted EBITDA as net income (loss), adjusted for the impact of finance expense, finance income, income tax expense, depreciation, amortization, share-based compensation expense, transaction gains and associated expenses, restructuring charges, labor optimization initiatives and litigation settlements. + + + + + + We believe that in addition to our results determined in accordance with IFRS, these adjusted non-IFRS measures provide useful information to both management and investors in measuring our financial performance and highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures. These adjusted non-IFRS financial measures provide supplemental information regarding our operating performance that excludes certain gains, losses and non-cash charges that occur relatively infrequently and/or that we consider to be unrelated to our core operations. For further information regarding these non-IFRS measures, please refer to "Unaudited Reconciliation of IFRS to Adjusted Non-IFRS" table above. + + + + + + Adjusted non-IFRS financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS. Our presentation of adjusted non-IFRS measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items. Other companies in our industry may calculate these measures differently, which may limit their usefulness as a comparative measure. + + + + + + Conference Call and Webcast Information + + + + + + GF will host a conference call with the financial community on Tuesday, February 14, 2022 at 8:30 a.m. U.S. Eastern Time (ET) to review the Fourth Quarter and Full Year 2022 results in detail. Interested parties may join the scheduled conference call by registering at https://register.vevent.com/register/BIb7c5c31960b748cb82f3624738c04f6d + + + The call will be webcast and can be accessed from the GF Investor Relations website https://investors.gf.com. A replay of the call will be available on the GF Investor Relations website within 24 hours of the actual call. + + + + + + About GlobalFoundries + + + + + + GlobalFoundries® (GF®) is one of the world's leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com. + + + + + + Forward-looking Statements + + + + + + This press release includes "forward-looking statements" that reflect our current expectations and views of future events. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and include but are not limited to, statements regarding our financial outlook, future guidance, product development, business strategy and plans, and market trends, opportunities and positioning. These statements are based on current expectations, assumptions, estimates, forecasts, projections and limited information available at the time they are made. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall," "outlook," "on track," and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a broad variety of risks and uncertainties, both known and unknown. Any inaccuracy in our assumptions and estimates could affect the realization of the expectations or forecasts in these forward-looking statements. For example, our business could be impacted by the COVID-19 pandemic and supply chain disruptions due to the Russia/Ukraine conflict and actions taken in response to such events; the market for our products may develop more slowly than expected or than it has in the past; we may fail to achieve the full benefits of our current restructuring plan; our operating results may fluctuate more than expected; there may be significant fluctuations in our results of operations and cash flows related to our revenue recognition or otherwise; a network or data security incident that allows unauthorized access to our network or data or our customers' data could damage our reputation; we could experience interruptions or performance problems associated with our technology, including a service outage; and global economic conditions could deteriorate, including due to increasing interest rates, rising inflation and any potential recession. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or + + + Page 9 of 10 + + + + + + outcomes to differ materially from those contained in any forward-looking statements we may make. Moreover, we operate in a competitive and rapidly changing market, and new risks may emerge from time to time. You should not rely upon forward-looking statements as predictions of future events. These statements are based on our historical performance and on our current plans, estimates and projections in light of information currently available to us, and therefore you should not place undue reliance on them. + + + + + + Although we believe that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assumes responsibility for the accuracy and completeness of these statements. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. Except to the extent required by federal securities laws, we undertake no obligation to update any information or any forward-looking statements as a result of new information, subsequent events, or any other circumstances after the date hereof, or to reflect the occurrence of unanticipated events. For a discussion of potential risks and uncertainties, please refer to the risk factors and cautionary statements in our 2021 Annual Report on Form 20-F, current reports on Form 6-K and other reports filed with the Securities and Exchange Commission. Copies of our SEC filings are available on our Investor Relations website, investors.gf.com, or from the SEC website, www.sec.gov. + + + + + + For further information, please contact: + + + Investor Relations + + + ir@gf.com + + + + + + Page 10 of 10 + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +GLOBALFOUNDRIES Inc. published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2023 12:01:10 UTC. + + diff --git a/news/GFS/2023.02.14/Inflation is back (on the calendar).txt b/news/GFS/2023.02.14/Inflation is back (on the calendar).txt new file mode 100644 index 0000000000000000000000000000000000000000..31ca092010c5ce71172e8729f62417cb379923f0 --- /dev/null +++ b/news/GFS/2023.02.14/Inflation is back (on the calendar).txt @@ -0,0 +1,49 @@ + +The indexes all gained more than 1%, thanks in particular to cyclical and technology stocks. The wave of caution that had gripped the stock market last week has tended to recede. That's the problem with these periods of uncertainty: we know it's going up and down, but we don't know by how much. As mentioned yesterday, everyone is waiting for 8:30am and the announcement of January's US inflation to decide whether the rebound will continue or whether it will get deflated. To validate the first hypothesis, inflation must continue to decline for the U.S. central bank to adopt a less aggressive attitude on rates. On the other hand, signals of pressure on prices, which are possible between December and January for seasonal reasons, are likely to frighten financiers. On average, the market expects annual inflation to fall from 6.5% in December to 6.2% in January, but prices to rise by 0.5% over a month. ING points out in passing this morning that these two figures are incompatible because an increase of 0.5% between December and January should translate into an annual inflation of 6.3% or 6.4%. So economists, can't we count anymore? +In the rest of the news, apparently no balloons have been fired in the world sky for at least 24 hours. Tensions on this point remain high between the United States and China. Beijing has accused Washington of flying balloons in Chinese airspace. At least ten in January. According to my information, Brussels is preparing a working group on the subject. The white paper that will come out of it will allow aerial observations to be made from 2027 onwards, with a view to preparing a possible response at the beginning of the next decade. In Japan, Kazuo Ueda, who is 71 years old, will be the new governor of the central bank starting in April. I don't know anything about Japanese banking genealogy, but I noticed that Ueda was not on the list of contenders to succeed Haruhiko Kuroda that had been circulating until last week. This academic has a good reputation, even if he is rumored to owe his place to the evasion of Masayoshi Amamiya, the current deputy governor of the Bank of Japan. On a related note, the Wall Street Journal understands that Joe Biden will announce this week the appointment of current Fed Vice Chair Lael Brainard as head of the Fed's National Economic Council. +To continue on a funnier note, well, funnily enough, I noticed yesterday that Elon Musk appeared in all the suggestions of the MarketScreener Twitter account. I was a bit saddened by this, but I moved on. Apparently, I'm not the only one to have noticed this and a journalist from the American media The Verge also got upset, recalling that the American billionaire had complained a few days ago that his tweets weren't seen enough and that he even fired an engineer for this reason (I didn't check). Apparently, Musk's account has been on a downward slope in terms of popularity since April, with engagement dropping quite a bit. Not being a man to imagine that he could annoy his audience, Elon had a technical problem looked for, estimating that 95% of his tweets were not delivered. His teams having not identified any malfunction, he asked them to look for more. From there, it's only a short step to see a cause and effect relationship with the omnipresence of the boss's tweets in the suggestions of all of us. I guess you could call it ordered freedom of speech. It's really quite reassuring if it's true. The story in a bit more detail here. +New delivery of results today with Coca-Cola, Airbnb, Zoetis, Marriott, Ecolab, GlobalFoundries or Akamai in the United States. For its part, the American Palantir exceeded expectations. +Economic highlights of the day: +The US inflation for January will be presented at 8:30am. All the agenda here. Last night, Japan announced that its GDP grew modestly by 0.2% between Q3 and Q4 2022, less than expected (0.5%). + +The dollar drops to 0.9293 EUR. The ounce of gold is trading at 1857 USD. Oil remains firm, with North Sea Brent crude at USD 85.48 per barrel and U.S. light crude WTI at USD 78.97. The yield on 10-year US debt is back down to 3.69%. Bitcoin is sailing around USD 21,800. + +In corporate news: + + +* Boeing - Tata Group-owned Air India will buy 220 planes from Boeing and 250 planes from Airbus for a total of more than $100 billion at list price. + +* Ford plans to cut 3,800 engineering and administrative jobs in Europe over the next three years to improve its cost structure and competitiveness in electric vehicles, the automaker announced Tuesday. The stock is up 1% in pre-market trading. + +* Tesla adjusted its prices for the fourth time in two months, raising the price of the Model Y Performance and lowering the price of the Model 3 Propulsion. + +* Apple is facing difficulties with the transfer of part of its production to India, as the yield in the manufacture of certain components is less than 50%. + +* Liberty Global said Monday it has acquired a 4.92% stake in British telecom operator Vodafone, but added that it was not considering a takeover bid for the group. + +* Paramount Global is again trying to sell Simon & Schuster after a $2.2 billion deal with Penguin Random House failed last November. + +* Walmart will close three of its U.S. technology centers (Austin, Carlsbad and Portland), which will mean the transfer of hundreds of employees if they want to keep their jobs. + +* Palantir Technologies announced Monday that it expects to post its first full year in the black this year after better-than-expected fourth-quarter results. The stock jumped 17.7% in pre-market trading. + +* Avis Budget Group gained 4.2% in after-hours trading after reporting better-than-expected fourth-quarter results linked to strong demand in the corporate and leisure travel businesses. + +* T-Mobile US - Users of the U.S. telecom operator faced a giant nationwide outage Monday. + +Analyst recommendations: + +Advanced Micro Devices: Benchmark Company raised the target to $103 from $93. Maintains buy rating. +Belden: Benchmark Company increased its price target to $108 from $88. +Fidelity National Information Services: Morgan Stanley moved to overweight from equal-weight. PT set to $79. +Gilead Sciences: Mizuho Securities maintains buy rating. Price target downgrades to $101 from $88. + Interpublic Group: Citi raised its expectations to $45 from $39. Maintains buy rating. +Jupiter Fund Management: Morgan Stanley initiated coverage with a recommendation of equal-weight. Price target set to 152 pence. +Lattice Semiconductor: Susquehanna Financial raised the target to $95 from $75. Maintains positive rating. +Mettler-Toledo: UBS maintains neutral rating. PT upgrades to $1,580 from $1,292. +Occidental Petroleum: Goldman Sachs raised the recommendation to buy from neutral. Price target up 25% to $81. +Royal Caribbean: Macquarie maintains outperform rating and set price target to $85 from $65. +Take-Two Interactive Software: DZ Bank cut the recommendation to hold from buy. PT set to $105 +Willis Towers Watson: Stifel upgraded its price target to $255 from $228. Maintains hold rating. + + diff --git a/news/GFS/2023.02.16/Chipmakers' plans for factories in Europe.txt b/news/GFS/2023.02.16/Chipmakers' plans for factories in Europe.txt new file mode 100644 index 0000000000000000000000000000000000000000..60ab09ae0fd13766009d072f56d7df35833ee82b --- /dev/null +++ b/news/GFS/2023.02.16/Chipmakers' plans for factories in Europe.txt @@ -0,0 +1,29 @@ +Feb 16 (Reuters) - The European Union is seeking to +bolster semiconductor production after a global shortage over +the past two years.Under the European Chips Act, the European Commission +earmarked early last year a total of 15 billion euros ($16 +billion) for public and private semiconductor projects by 2030.Below are some of the chipmakers' plans for factories in +Europe, in alphabetical order:Infineon:The maker of chips used in cars and data won approval to +begin work on a 5 billion euro semiconductor plant in the German +city of Dresden, it said on Feb. 16.Production is due to start in 2026.Intel:In March 2022, Intel picked the German city of Magdeburg as +the site for its new mega chip manufacturing complex, a key part +of its $88 billion investment drive across Europe.Business daily Handelsblatt reported on Feb. 8 that Intel +wants 10 billion euros of government funding for that factory.It is also in talks with Italy for an advanced packaging and +assembly plant, using new technologies to weave together full +chips out of tiles.STMicroelectronics:The Franco-Italian company said in October it plans to build +a 730 million euro silicon carbide wafer plant in Italy. +Building is due to be complete in 2026.It also announced plans in July to build a semiconductor +factory in France in partnership with GlobalFoundries.The facility, which will be next to STM's existing plant in +Crolles, is targeted to reach full capacity by 2026.Taiwan Semiconductor Manufacturing Company Ltd +(TSMC):According to a Financial Times report in December, TSMC, the +world's largest contract chipmaker, is in advanced talks with +suppliers about setting up its first European plant in the +German city of Dresden."We do not rule out any possibility but there is no concrete +plan at this time," TSMC said in a statement.Wolfspeed Inc:The U.S. chipmaker will build a $3-billion electric vehicle +chip plant and a research and development center in Germany, it +said on Feb. 1.Production is planned to start in 2027 in the German state +of Saarland, with Wolfspeed's Chief Executive Gregg Lowe telling +Reuters the plant is expected to rank as the world's biggest +production facility for chips made out of silicon carbide.($1 = 0.9343 euros) +(Reporting by Antonis Pothitos in Gdansk; editing by Josephine +Mason and Mark Potter) \ No newline at end of file diff --git a/news/GFS/2023.02.16/Factbox-Chipmakers' plans for factories in Europe.txt b/news/GFS/2023.02.16/Factbox-Chipmakers' plans for factories in Europe.txt new file mode 100644 index 0000000000000000000000000000000000000000..73722260ed2f723a510869888ff48bad7a7d9000 --- /dev/null +++ b/news/GFS/2023.02.16/Factbox-Chipmakers' plans for factories in Europe.txt @@ -0,0 +1 @@ +Under the European Chips Act, the European Commission earmarked early last year a total of 15 billion euros ($16 billion) for public and private semiconductor projects by 2030.Below are some of the chipmakers' plans for factories in Europe, in alphabetical order:Infineon:The maker of chips used in cars and data won approval to begin work on a 5 billion euro semiconductor plant in the German city of Dresden, it said on Feb. 16.Production is due to start in 2026.Intel:In March 2022, Intel picked the German city of Magdeburg as the site for its new mega chip manufacturing complex, a key part of its $88 billion investment drive across Europe.Business daily Handelsblatt reported on Feb. 8 that Intel wants 10 billion euros of government funding for that factory.It is also in talks with Italy for an advanced packaging and assembly plant, using new technologies to weave together full chips out of tiles. STMicroelectronics:The Franco-Italian company said in October it plans to build a 730 million euro silicon carbide wafer plant in Italy. Building is due to be complete in 2026.It also announced plans in July to build a semiconductor factory in France in partnership with GlobalFoundries.The facility, which will be next to STM's existing plant in Crolles, is targeted to reach full capacity by 2026.Taiwan Semiconductor Manufacturing Company Ltd (TSMC): According to a Financial Times report in December, TSMC, the world's largest contract chipmaker, is in advanced talks with suppliers about setting up its first European plant in the German city of Dresden. "We do not rule out any possibility but there is no concrete plan at this time," TSMC said in a statement. Wolfspeed Inc:The U.S. chipmaker will build a $3-billion electric vehicle chip plant and a research and development centre in Germany, it said on Feb. 1. Production is planned to start in 2027 in the German state of Saarland, with Wolfspeed's Chief Executive Gregg Lowe telling Reuters the plant is expected to rank as the world's biggest production facility for chips made out of silicon carbide.($1 = 0.9343 euros) (Reporting by Antonis Pothitos in Gdansk; editing by Josephine Mason and Mark Potter) \ No newline at end of file diff --git a/news/GFS/2023.02.16/Globalfoundries : Amkor Technology and GlobalFoundries to Provide At-scale Semiconductor T...txt b/news/GFS/2023.02.16/Globalfoundries : Amkor Technology and GlobalFoundries to Provide At-scale Semiconductor T...txt new file mode 100644 index 0000000000000000000000000000000000000000..56b79d1489e8a4e2b7f99b7cdeda1d8bd1e6236f --- /dev/null +++ b/news/GFS/2023.02.16/Globalfoundries : Amkor Technology and GlobalFoundries to Provide At-scale Semiconductor T...txt @@ -0,0 +1,95 @@ + + +February 16, 2023 + + +Partnership expands European and transatlantic semiconductor supply chain + + +TEMPE, AZ and DRESDEN, Germany, February 16, 2023 - Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, and GlobalFoundries (Nasdaq: GFS) (GF), a global leader in feature-rich semiconductor manufacturing, announced today that the two companies have formed a strategic partnership. This new partnership will enable a comprehensive EU/US supply chain from semiconductor wafer production at GF to OSAT* services at Amkor's site in Porto, Portugal. GF plans to transfer its 300mm Bump and Sort lines from its Dresden site to Amkor's Porto operations to establish the first at-scale back-end facility in Europe. GF will maintain ownership of its transferred tools, processes, and IP in Porto. Both partners also plan to collaborate on future development efforts in Portugal. + + + Today, Amkor is the only high-volume, Tier 1 OSAT in Europe, and GF Dresden is Europe's largest and most advanced semiconductor manufacturing services company. This partnership enables the first semiconductor manufacturing (foundry) through advanced packaging semiconductor supply chain outside of Asia, creating more European supply chain autonomy for key end markets including automotive. + + + "This strategic partnership with GF will enhance the advanced semiconductor packaging supply chain in Europe and ramp up competitive capacity to complement what is available in Asia," said Kevin Engel, Amkor's Executive Vice President, Business Units. "Amkor's collaboration with GF enables us to significantly expand manufacturing scale and bring to market additional assembly and test capability to support our European and global customers." + + + "GF remains committed to growing our European manufacturing ecosystem to support local and global customers, especially in the Automotive markets. This partnership with Amkor in Portugal will provide much needed services within the EU and expand the US-European semiconductor supply chain," said Mike Hogan, GlobalFoundries Chief Business Officer. + + + At this pivotal time in the semiconductor industry, manufacturers and suppliers alike are confronted with political, industrial, technological, and financial disruptions. Amkor's global support and local presence combined with GF's tools and processes will enable the Porto site to help the European Union pursue its goals of ensuring supply chain stability and delivering the next-generation automotive and other critical chip solutions. + + + * Outsourced Semiconductor Assembly and Test vendors provide third-party IC-packaging and test services. + + + About GF + + + GlobalFoundries (GF) is one of the world's leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com. + + + ©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. Or its subsidiaries. All other trademarks are the property of their respective owners. + + + About Amkor + + + Amkor Technology, Inc. is one of the world's largest providers of outsourced semiconductor packaging and test services and a strategic manufacturing partner to leading semiconductor companies, foundries and electronics OEMs. Founded in 1968, Amkor's operational base includes production facilities, product development centers and sales and support offices in Asia, Europe and the USA. Visit amkor.com. + + + Forward-looking Information + + + This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof, and neither Amkor nor GF undertakes any obligation to update any of their respective forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law. + + + Media Contacts: + + +GF + Karin Raths +[email protected] + +49 172 7934969 + + + Erica McGill +[email protected] + 518-795-5240 + + +Amkor Technology + + + Investor Relations + Jennifer Jue + Senior Director, Investor Relations and Finance + 480-786-7594 +[email protected] + + + Media Relations + Christina Parsons + Director, Marketing Communications + 480-786-7823 +[email protected] + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +GLOBALFOUNDRIES Inc. published this content on 16 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 18:18:06 UTC. + + diff --git "a/news/GILD/2023.01.03/European Medicines Agency Validates Marketing Authorization Application For Trodelvy\302\256 (...txt" "b/news/GILD/2023.01.03/European Medicines Agency Validates Marketing Authorization Application For Trodelvy\302\256 (...txt" new file mode 100644 index 0000000000000000000000000000000000000000..ba60345e0bf03e6b80304c515e2a90d4a95a452e --- /dev/null +++ "b/news/GILD/2023.01.03/European Medicines Agency Validates Marketing Authorization Application For Trodelvy\302\256 (...txt" @@ -0,0 +1,76 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) today announced that the European Medicines Agency (EMA) has validated a Type II variation Marketing Authorization Application (MAA) for Trodelvy® (sacituzumab govitecan-hziy) for the treatment of adult patients with unresectable or metastatic hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative (IHC 0, IHC 1+ or IHC 2+/ISH–) breast cancer who have received endocrine-based therapy and at least two additional systemic therapies in the metastatic setting. + +“At Gilead Oncology our ambition is to transform care for people with cancer,” said Bill Grossman, MD, PhD, Senior Vice President, Therapeutic Area Head, Gilead Oncology. “Trodelvy is already moving us towards this ambition and changing the standard of care in second-line metastatic triple-negative breast cancer across the EU. The validation of our Marketing Authorization Application in pre-treated HR+/HER2- metastatic breast cancer marks an important step forward to potentially making Trodelvy available to even more patients with severely limited treatment options.” + +This Marketing Authorization Application is based on data from the registrational Phase 3 TROPiCS-02 study, which met its primary endpoint of progression-free survival (PFS) and key secondary endpoint of overall survival (OS) versus comparator chemotherapies (treatment of physician’s choice (TPC) of chemotherapy). PFS data were published in the Journal of Clinical Oncology, and OS data were recently presented at ESMO Congress 2022. + +The safety profile for Trodelvy in TROPiCS-02 was consistent with prior studies, and no new safety signals were identified in this population. + +In October 2022, the U.S. Food and Drug Administration (FDA) accepted for priority review the supplemental Biologics License Application (sBLA) for Trodelvy for the treatment of adult patients with unresectable locally advanced or metastatic HR+/HER2-negative (IHC 0, IHC 1+ or IHC 2+/ISH–) breast cancer who have received endocrine-based therapy and at least two additional systemic therapies in the metastatic setting. The Prescription Drug User Fee Act (PDUFA) target action date is currently set for February 2023. + +Trodelvy has not been approved by any regulatory agency for the treatment of HR+/HER2- metastatic breast cancer. Its safety and efficacy have not been established for this indication. + +Trodelvy has a Boxed Warning for severe or life-threatening neutropenia and severe diarrhea; please see below for additional Important Safety Information. + +About HR+/HER2- Metastatic Breast Cancer +Hormone receptor-positive/human epidermal growth factor receptor 2-negative (HR+/HER2-) breast cancer is the most common type of breast cancer and accounts for approximately 70% of all new cases, or nearly 400,000 diagnoses worldwide each year. Almost one in three cases of early-stage breast cancer eventually become metastatic, and among patients with HR+/HER2- metastatic disease, the five-year relative survival rate is 30%. As patients with HR+/HER2- metastatic breast cancer become resistant to endocrine-based therapy, their primary treatment option is limited to single-agent chemotherapy. In this setting, it is common to receive multiple lines of chemotherapy regimens over the course of treatment, and the prognosis remains poor. + +About the TROPiCS-02 Study +The TROPiCS-02 study is a global, multicenter, open-label, Phase 3 study, randomized 1:1 to evaluate Trodelvy versus physicians’ choice of chemotherapy (eribulin, capecitabine, gemcitabine, or vinorelbine) in 543 patients with HR+/HER2- metastatic breast cancer who were previously treated with endocrine therapy, CDK4/6 inhibitors and two to four lines of chemotherapy for metastatic disease. The primary endpoint is progression-free survival per Response Evaluation Criteria in Solid Tumors (RECIST 1.1) as assessed by blinded independent central review (BICR) for participants treated with Trodelvy compared to those treated with chemotherapy. Secondary endpoints include overall survival, overall response rate, clinical benefit rate and duration of response, as well as assessment of safety and tolerability and quality of life measures. In the study, HER2 negativity was defined per American Society of Clinical Oncology (ASCO) and the College of American Pathologists (CAP) criteria as immunohistochemistry (IHC) score of 0, IHC 1+ or IHC 2+ with a negative in-situ hybridization (ISH) test. More information about TROPiCS-02 is available at https://clinicaltrials.gov/ct2/show/NCT03901339. + +About Trodelvy +Trodelvy® (sacituzumab govitecan-hziy) is a first-in-class Trop-2 directed antibody-drug conjugate. Trop-2 is a cell surface antigen highly expressed in multiple tumor types, including in more than 90% of breast and bladder cancers. Trodelvy is intentionally designed with a proprietary hydrolyzable linker attached to SN-38, a topoisomerase I inhibitor payload. This unique combination delivers potent activity to both Trop-2 expressing cells and the microenvironment. + +Trodelvy is approved in more than 40 countries, with multiple additional regulatory reviews underway worldwide, for the treatment of adult patients with unresectable locally advanced or metastatic triple-negative breast cancer (TNBC) who have received two or more prior systemic therapies, at least one of them for metastatic disease. Trodelvy is also approved in the U.S. under the accelerated approval pathway for the treatment of adult patients with locally advanced or metastatic urothelial cancer (UC) who have previously received a platinum-containing chemotherapy and either programmed death receptor-1 (PD-1) or programmed death-ligand 1 (PD-L1) inhibitor. + +Trodelvy is also being developed for potential investigational use in other TNBC and metastatic UC populations, as well as a range of tumor types where Trop-2 is highly expressed, including HR+/HER2- metastatic breast cancer, metastatic non-small cell lung cancer (NSCLC), metastatic small cell lung cancer (SCLC), head and neck cancer, and endometrial cancer. + +U.S. Indications for Trodelvy + +In the United States, Trodelvy is indicated for the treatment of: + +U.S. Important Safety Information for Trodelvy +BOXED WARNING: NEUTROPENIA AND DIARRHEA + +CONTRAINDICATIONS + +WARNINGS AND PRECAUTIONS +Neutropenia: Severe, life-threatening, or fatal neutropenia can occur and may require dose modification. Neutropenia occurred in 61% of patients treated with Trodelvy. Grade 3-4 neutropenia occurred in 47% of patients. Febrile neutropenia occurred in 7%. Withhold Trodelvy for absolute neutrophil count below 1500/mm3 on Day 1 of any cycle or neutrophil count below 1000/mm3 on Day 8 of any cycle. Withhold Trodelvy for neutropenic fever. + +Diarrhea: Diarrhea occurred in 65% of all patients treated with Trodelvy. Grade 3-4 diarrhea occurred in 12% of patients. One patient had intestinal perforation following diarrhea. Neutropenic colitis occurred in 0.5% of patients. Withhold Trodelvy for Grade 3-4 diarrhea and resume when resolved to ≤Grade 1. At onset, evaluate for infectious causes and if negative, promptly initiate loperamide, 4 mg initially followed by 2 mg with every episode of diarrhea for a maximum of 16 mg daily. Discontinue loperamide 12 hours after diarrhea resolves. Additional supportive measures (e.g., fluid and electrolyte substitution) may also be employed as clinically indicated. Patients who exhibit an excessive cholinergic response to treatment can receive appropriate premedication (e.g., atropine) for subsequent treatments. + +Hypersensitivity and Infusion-Related Reactions: Serious hypersensitivity reactions including life-threatening anaphylactic reactions have occurred with Trodelvy. Severe signs and symptoms included cardiac arrest, hypotension, wheezing, angioedema, swelling, pneumonitis, and skin reactions. Hypersensitivity reactions within 24 hours of dosing occurred in 37% of patients. Grade 3-4 hypersensitivity occurred in 2% of patients. The incidence of hypersensitivity reactions leading to permanent discontinuation of Trodelvy was 0.3%. The incidence of anaphylactic reactions was 0.3%. Pre-infusion medication is recommended. Observe patients closely for hypersensitivity and infusion-related reactions during each infusion and for at least 30 minutes after completion of each infusion. Medication to treat such reactions, as well as emergency equipment, should be available for immediate use. Permanently discontinue Trodelvy for Grade 4 infusion-related reactions. + +Nausea and Vomiting: Nausea occurred in 66% of all patients treated with Trodelvy and Grade 3 nausea occurred in 4% of these patients. Vomiting occurred in 39% of patients and Grade 3-4 vomiting occurred in 3% of these patients. Premedicate with a two or three drug combination regimen (e.g., dexamethasone with either a 5-HT3 receptor antagonist or an NK1 receptor antagonist as well as other drugs as indicated) for prevention of chemotherapy-induced nausea and vomiting (CINV). Withhold Trodelvy doses for Grade 3 nausea or Grade 3-4 vomiting and resume with additional supportive measures when resolved to Grade ≤1. Additional antiemetics and other supportive measures may also be employed as clinically indicated. All patients should be given take-home medications with clear instructions for prevention and treatment of nausea and vomiting. + +Increased Risk of Adverse Reactions in Patients with Reduced UGT1A1 Activity: Patients homozygous for the uridine diphosphate-glucuronosyl transferase 1A1 (UGT1A1)*28 allele are at increased risk for neutropenia, febrile neutropenia, and anemia and may be at increased risk for other adverse reactions with Trodelvy. The incidence of Grade 3-4 neutropenia was 67% in patients homozygous for the UGT1A1*28, 46% in patients heterozygous for the UGT1A1*28 allele and 46% in patients homozygous for the wild-type allele. The incidence of Grade 3-4 anemia was 25% in patients homozygous for the UGT1A1*28 allele, 10% in patients heterozygous for the UGT1A1*28 allele, and 11% in patients homozygous for the wild-type allele. Closely monitor patients with known reduced UGT1A1 activity for adverse reactions. Withhold or permanently discontinue Trodelvy based on clinical assessment of the onset, duration and severity of the observed adverse reactions in patients with evidence of acute early-onset or unusually severe adverse reactions, which may indicate reduced UGT1A1 function. + +Embryo-Fetal Toxicity: Based on its mechanism of action, Trodelvy can cause teratogenicity and/or embryo-fetal lethality when administered to a pregnant woman. Trodelvy contains a genotoxic component, SN-38, and targets rapidly dividing cells. Advise pregnant women and females of reproductive potential of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during treatment with Trodelvy and for 6 months after the last dose. Advise male patients with female partners of reproductive potential to use effective contraception during treatment with Trodelvy and for 3 months after the last dose. + +ADVERSE REACTIONS + +In the ASCENT study (IMMU-132-05), the most common adverse reactions (incidence ≥25%) were fatigue, neutropenia, diarrhea, nausea, alopecia, anemia, constipation, vomiting, abdominal pain, and decreased appetite. The most frequent serious adverse reactions (SAR) (>1%) were neutropenia (7%), diarrhea (4%), and pneumonia (3%). SAR were reported in 27% of patients, and 5% discontinued therapy due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the ASCENT study were reduced neutrophils, leukocytes, and lymphocytes. + +In the TROPHY study (IMMU-132-06), the most common adverse reactions (incidence ≥25%) were diarrhea, fatigue, neutropenia, nausea, any infection, alopecia, anemia, decreased appetite, constipation, vomiting, abdominal pain, and rash. The most frequent serious adverse reactions (SAR) (≥5%) were infection (18%), neutropenia (12%, including febrile neutropenia in 10%), acute kidney injury (6%), urinary tract infection (6%), and sepsis or bacteremia (5%). SAR were reported in 44% of patients, and 10% discontinued due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the TROPHY study were reduced neutrophils, leukocytes, and lymphocytes. + +DRUG INTERACTIONS + +UGT1A1 Inhibitors: Concomitant administration of Trodelvy with inhibitors of UGT1A1 may increase the incidence of adverse reactions due to potential increase in systemic exposure to SN-38. Avoid administering UGT1A1 inhibitors with Trodelvy. + +UGT1A1 Inducers: Exposure to SN-38 may be substantially reduced in patients concomitantly receiving UGT1A1 enzyme inducers. Avoid administering UGT1A1 inducers with Trodelvy. + +Please see full Prescribing Information, including BOXED WARNING. + +About Gilead Sciences +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. + +Forward-Looking Statements +This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead’s ability to initiate, progress or complete clinical trials within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional clinical trials, including those involving Trodelvy; uncertainties relating to regulatory applications for Trodelvy and related filing and approval timelines, including with respect to the pending sBLA and MAA for Trodelvy for pre-treated HR+/HER2- metastatic breast cancer, and pending or potential applications for the treatment of metastatic TNBC, mUC, HR+/HER2- breast cancer, NSCLC, SCLC, head and neck cancer, and endometrial cancer, in the currently anticipated timelines or at all; Gilead’s ability to receive regulatory approvals for such indications in a timely manner or at all, including FDA or European Commission approval for Trodelvy for pre-treated HR+/HER2- metastatic breast cancer, and the risk that any such approvals may be subject to significant limitations on use; the possibility that Gilead may make a strategic decision to discontinue development of Trodelvy for such indications and as a result, Trodelvy may never be commercialized for these indications; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements. + +U.S. Prescribing Information for Trodelvy including BOXED WARNING, is available at www.gilead.com. + +Trodelvy, Gilead and the Gilead logo are trademarks of Gilead Sciences, Inc., or its related companies. + +For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230102005076/en/ \ No newline at end of file diff --git a/news/GILD/2023.01.03/Gilead and EVOQ Therapeutics Announce Collaboration to Advance Immunotherapies.txt b/news/GILD/2023.01.03/Gilead and EVOQ Therapeutics Announce Collaboration to Advance Immunotherapies.txt new file mode 100644 index 0000000000000000000000000000000000000000..5ef1a51fb8b91bdc368bca8f6dd701842fcc8668 --- /dev/null +++ b/news/GILD/2023.01.03/Gilead and EVOQ Therapeutics Announce Collaboration to Advance Immunotherapies.txt @@ -0,0 +1,29 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) and EVOQ Therapeutics, Inc. (EVOQ) today announced a collaboration and licensing agreement to advance EVOQ’s proprietary technology for the treatment of rheumatoid arthritis (RA) and lupus. EVOQ’s NanoDisc technology is designed to enable lymph-targeted delivery of disease-specific antigens and has the potential to change the paradigm for the treatment of autoimmune diseases. Under the agreement, Gilead and EVOQ will collaborate on preclinical development. Gilead has the option to exclusively license rights to EVOQ’s NanoDisc technology to pursue product candidates for RA and lupus indications and will be responsible for clinical development and commercialization. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230103005023/en/ +“Despite key advances over the past two decades, there remains significant unmet need for people living with inflammatory and autoimmune diseases,” said Flavius Martin, MD, Executive Vice President, Research at Gilead. “We are excited to collaborate with EVOQ to further expand our autoimmune pipeline with the goal of addressing the needs of people living with these conditions.” + +“Gilead has an incredible track record in therapeutic development and of delivering innovative medicines to people around the world. We look forward to working with the Gilead team to advance new treatment options for RA and lupus patients,” said William Brinkerhoff, CEO at EVOQ. + +Beginning in the first quarter of 2022, consistent with recent industry communications from the U.S. Securities and Exchange Commission (SEC), Gilead no longer excludes acquired IPR&D expenses from its non-GAAP financial measures. The transaction with EVOQ is expected to have a de minimis financial impact on Gilead’s GAAP and non-GAAP EPS. + +Terms of the Agreement + +Under the terms of the agreement, EVOQ could potentially receive up to $658.5 million total in upfront, option exercise and milestone payments across all programs, as well as tiered royalties on product sales. + +About EVOQ Therapeutics + +EVOQ Therapeutics is advancing a pipeline of disease-specific immune modulators to treat patients afflicted with autoimmune diseases. EVOQ's technology platform utilizes a proprietary NanoDisc that has been optimized to deliver antigens to restore immune tolerance. For more information, please visit www.evoqtherapeutics.com + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, cancer, and inflammation. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. + +Gilead Forward-Looking Statements + +This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties, and other factors, including the ability of the parties to complete or implement the collaboration in a timely manner or at all; the risk that Gilead may not realize the potential benefits of this collaboration with EVOQ; difficulties or unanticipated expenses in connection with the collaboration and the potential effects on Gilead’s revenues and earnings; the ability of the parties to initiate, progress or complete clinical trials within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional trials, including those involving potential therapies developed under the collaboration; the ability of the parties to file applications for regulatory approval or receive regulatory approvals in a timely manner or at all for potential therapies developed under the collaboration, and the risk that any such approvals may be subject to significant limitations on use; the possibility that the parties may make a strategic decision to terminate the collaboration at any time; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements. + +Gilead and the Gilead logo are trademarks of Gilead Sciences, Inc. or its related companies. + +For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005023/en/ \ No newline at end of file diff --git a/news/GILD/2023.01.04/Gilead Sciences, Inc. - European Medicines Agency Validates Marketing Authorization App...txt b/news/GILD/2023.01.04/Gilead Sciences, Inc. - European Medicines Agency Validates Marketing Authorization App...txt new file mode 100644 index 0000000000000000000000000000000000000000..44f2d13e1ddb72226e7511dd77db9edd4c18c843 --- /dev/null +++ b/news/GILD/2023.01.04/Gilead Sciences, Inc. - European Medicines Agency Validates Marketing Authorization App...txt @@ -0,0 +1 @@ +Gilead Sciences, Inc. (Nasdaq: GILD) today announced that the European Medicines Agency (EMA) has validated a Type II variation Marketing Authorization Application (MAA) for Trodelvy (sacituzumab govitecan-hziy) for the treatment of adult patients with unresectable or metastatic hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative (IHC 0, IHC 1+ or IHC 2+/ISH-) breast cancer who have received endocrine-based therapy and at least two additional systemic therapies in the metastatic setting.At Gilead Oncology our ambition is to transform care for people with cancer,' said Bill Grossman, MD, PhD, Senior Vice President, Therapeutic Area Head, Gilead Oncology. 'Trodelvy is already moving us towards this ambition and changing the standard of care in second-line metastatic triple-negative breast cancer across the EU. The validation of our Marketing Authorization Application in pre-treated HR+/HER2- metastatic breast cancer marks an important step forward to potentially making Trodelvy available to even more patients with severely limited treatment options.'This Marketing Authorization Application is based on data from the registrational Phase 3 TROPiCS-02 study, which met its primary endpoint of progression-free survival (PFS) and key secondary endpoint of overall survival (OS) versus comparator chemotherapies (treatment of physician's choice (TPC) of chemotherapy). PFS data were published in the Journal of Clinical Oncology,and OS data were recently presented at ESMO Congress 2022.The safety profile for Trodelvy in TROPiCS-02 was consistent with prior studies, and no new safety signals were identified in this population.In October 2022, the U.S. Food and Drug Administration (FDA) accepted for priority review the supplemental Biologics License Application (sBLA) for Trodelvy for the treatment of adult patients with unresectable locally advanced or metastatic HR+/HER2-negative (IHC 0, IHC 1+ or IHC 2+/ISH-) breast cancer who have received endocrine-based therapy and at least two additional systemic therapies in the metastatic setting. The Prescription Drug User Fee Act (PDUFA) target action date is currently set for February 2023.Trodelvy has not been approved by any regulatory agency for the treatment of HR+/HER2- metastatic breast cancer. Its safety and efficacy have not been established for this indication.About HR+/HER2- Metastatic Breast CancerHormone receptor-positive/human epidermal growth factor receptor 2-negative (HR+/HER2-) breast cancer is the most common type of breast cancer and accounts for approximately 70% of all new cases, or nearly 400,000 diagnoses worldwide each year. Almost one in three cases of early-stage breast cancer eventually become metastatic, and among patients with HR+/HER2- metastatic disease, the five-year relative survival rate is 30%. As patients with HR+/HER2- metastatic breast cancer become resistant to endocrine-based therapy, their primary treatment option is limited to single-agent chemotherapy. In this setting, it is common to receive multiple lines of chemotherapy regimens over the course of treatment, and the prognosis remains poor.About the TROPiCS-02 StudyThe TROPiCS-02 study is a global, multicenter, open-label, Phase 3 study, randomized 1:1 to evaluate Trodelvy versus physicians' choice of chemotherapy (eribulin, capecitabine, gemcitabine, or vinorelbine) in 543 patients with HR+/HER2- metastatic breast cancer who were previously treated with endocrine therapy, CDK4/6 inhibitors and two to four lines of chemotherapy for metastatic disease. The primary endpoint is progression-free survival per Response Evaluation Criteria in Solid Tumors (RECIST 1.1) as assessed by blinded independent central review (BICR) for participants treated with Trodelvy compared to those treated with chemotherapy. Secondary endpoints include overall survival, overall response rate, clinical benefit rate and duration of response, as well as assessment of safety and tolerability and quality of life measures. In the study, HER2 negativity was defined per American Society of Clinical Oncology (ASCO) and the College of American Pathologists (CAP) criteria as immunohistochemistry (IHC) score of 0, IHC 1+ or IHC 2+ with a negative in-situ hybridization (ISH) test. More information about TROPiCS-02 is available at https://clinicaltrials.gov/ct2/show/NCT03901339.About TrodelvyTrodelvy (sacituzumab govitecan-hziy) is a first-in-class Trop-2 directed antibody-drug conjugate. Trop-2 is a cell surface antigen highly expressed in multiple tumor types, including in more than 90% of breast and bladder cancers. Trodelvy is intentionally designed with a proprietary hydrolyzable linker attached to SN-38, a topoisomerase I inhibitor payload. This unique combination delivers potent activity to both Trop-2 expressing cells and the microenvironment.Trodelvy is approved in more than 40 countries, with multiple additional regulatory reviews underway worldwide, for the treatment of adult patients with unresectable locally advanced or metastatic triple-negative breast cancer (TNBC) who have received two or more prior systemic therapies, at least one of them for metastatic disease. Trodelvy is also approved in the U.S. under the accelerated approval pathway for the treatment of adult patients with locally advanced or metastatic urothelial cancer (UC) who have previously received a platinum-containing chemotherapy and either programmed death receptor-1 (PD-1) or programmed death-ligand 1 (PD-L1) inhibitor.Trodelvy is also being developed for potential investigational use in other TNBC and metastatic UC populations, as well as a range of tumor types where Trop-2 is highly expressed, including HR+/HER2- metastatic breast cancer, metastatic non-small cell lung cancer (NSCLC), metastatic small cell lung cancer (SCLC), head and neck cancer, and endometrial cancer.U.S. Indications for TrodelvyIn the United States, Trodelvy is indicated for the treatment of:Adult patients with unresectable locally advanced or metastatic TNBC who have received two or more prior systemic therapies, at least one of them for metastatic disease.Adult patients with locally advanced or metastatic UC who have previously received a platinum-containing chemotherapy and either programmed death receptor-1 (PD-1) or programmed death-ligand 1 (PD-L1) inhibitor. This indication is approved under accelerated approval based on tumor response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial.U.S. Important Safety Information for TrodelvyBOXED WARNING: NEUTROPENIA AND DIARRHEASevere or life-threatening neutropenia may occur. Withhold Trodelvy for absolute neutrophil count below 1500/mm3 or neutropenic fever. Monitor blood cell counts periodically during treatment. Consider G-CSF for secondary prophylaxis. Initiate anti-infective treatment in patients with febrile neutropenia without delay.Severe diarrhea may occur. Monitor patients with diarrhea and give fluid and electrolytes as needed. Administer atropine, if not contraindicated, for early diarrhea of any severity. At the onset of late diarrhea, evaluate for infectious causes and, if negative, promptly initiate loperamide. If severe diarrhea occurs, withhold Trodelvy until resolved to Grade 1 and reduce subsequent doses.About Gilead SciencesGilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California.Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead's ability to initiate, progress or complete clinical trials within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional clinical trials, including those involving Trodelvy; uncertainties relating to regulatory applications for Trodelvy and related filing and approval timelines, including with respect to the pending sBLA and MAA for Trodelvy for pre-treated HR+/HER2- metastatic breast cancer, and pending or potential applications for the treatment of metastatic TNBC, mUC, HR+/HER2- breast cancer, NSCLC, SCLC, head and neck cancer, and endometrial cancer, in the currently anticipated timelines or at all; Gilead's ability to receive regulatory approvals for such indications in a timely manner or at all, including FDA or European Commission approval for Trodelvy for pre-treated HR+/HER2- metastatic breast cancer, and the risk that any such approvals may be subject to significant limitations on use; the possibility that Gilead may make a strategic decision to discontinue development of Trodelvy for such indications and as a result, Trodelvy may never be commercialized for these indications and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements.Contact:Email: Publicaffairs@gilead.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/GILD/2023.01.05/Gilead Sciences Again Named to Dow Jones Sustainability World Index.txt b/news/GILD/2023.01.05/Gilead Sciences Again Named to Dow Jones Sustainability World Index.txt new file mode 100644 index 0000000000000000000000000000000000000000..9a67ccacea8b403f52ac9173cd4756ad469d485b --- /dev/null +++ b/news/GILD/2023.01.05/Gilead Sciences Again Named to Dow Jones Sustainability World Index.txt @@ -0,0 +1 @@ +-DJSI World Highlights the Most Sustainable Companies Around the WorldBased on Corporate Sustainability Assessment -- Ranking Reflects Gilead's Ongoing Commitment to Corporate Responsibility -FOSTER CITY, Calif. - Gilead Sciences, Inc. (Nasdaq: GILD) announced the company has once again been recognized as one of the most sustainable pharmaceutical companies according to the Dow Jones Sustainability World Index (DJSI World). This ranking is based on an in-depth analysis of Gilead's sustainability performance and highlights the company's longstanding sustainable business practices and transparency on environmental, social and governance (ESG) issues."We are very pleased to receive this recognition once again, as a reflection of our commitment to patients, local communities, society and the planet," said Daniel O'Day, Chairman and Chief Executive Officer, Gilead Sciences. "Corporate responsibility is inherent in everything Gilead does, as we work toward our vision of making the world a healthier place for all people."Gilead's ESG strategy aims to position the company as an employer of choice that delivers shareholder value in a responsible manner. Examples of Gilead's commitment to ESG include:- Expanding health equity around the world through programs that promote health system sustainability, strengthen infrastructure and provide education and financial support- Increasing access to medicines in low- and lower-middle income countries, including royalty-free voluntary licensing for Gilead's antiviral treatment for COVID-19- Creating an inclusive workplace that is representative of the diverse communities the company serves- Continuing to evolve the company's environmental sustainability program and reducing greenhouse gas emissions, minimizing waste generation and using resources efficientlyThe DJSI World applies a transparent, rules-based constituent selection process based on the companies' S&P Global ESG Score resulting from the annual S&P Global Corporate Sustainability Assessment (CSA). The CSA consists of a rigorous questionnaire assessing both public and non-public data submitted by participating companies. This year, more than 10,000 publicly traded companies were invited to participate in the S&P Global CSA.Details on Gilead's ESG commitments, goals and progress can be found in the company's Year in Review, which is based on internationally recognized guidelines from the Global Reporting Initiative, the Sustainability Accounting Standards Board, the Taskforce on Climate Related Financial Disclosures and the United Nations Sustainable Development Goals. Learn more about Gilead's commitment to ESG and corporate responsibility at https://www.gilead.com/purpose/sustainability.About Gilead SciencesGilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, inflammation and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California.Gilead and the Gilead logo are registered trademarks of Gilead Sciences, Inc., or its related companies.For more information about Gilead, please visit the company's website at www.gilead.com, follow Gilead on Twitter (@Gilead Sciences) or call Gilead Public Affairs at 1-800- GILEAD-5 or 1-650-574-3000.Originally published by Gilead Sciences Canonical URL https://www.gilead.com/news-and-press/press-room/press-releases/2022/12/gilead-....(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/GILD/2023.01.09/Gilead Sciences : J.P. Morgan Annual Healthcare Conference.txt b/news/GILD/2023.01.09/Gilead Sciences : J.P. Morgan Annual Healthcare Conference.txt new file mode 100644 index 0000000000000000000000000000000000000000..ad2b605d03022d9089b78a1cb3967e320415e6b2 --- /dev/null +++ b/news/GILD/2023.01.09/Gilead Sciences : J.P. Morgan Annual Healthcare Conference.txt @@ -0,0 +1,301 @@ + + + + Gilead in 2023 and Beyond + + + J . P. M o r g a n H e a l t h c a r e C o n f e r e n c e 9 J a n u a r y 2 0 2 3 + + + + + + Forward-Looking Statements + + + Statements included in this presentation that are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Gilead cautions readers that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include those relating to: the impact of the COVID-19 pandemic on Gilead's business, financial condition and results of operations; the development, manufacturing and distribution of Veklury as a treatment for COVID-19, including the uncertainty of the amount and timing of future Veklury sales, and Gilead's ability to effectively manage the global supply and distribution of Veklury; Gilead's ability to achieve its anticipated full year 2022 financial results, including as a result of potential adverse revenue impacts from COVID-19 and potential revenues from Veklury; Gilead's ability to make progress on any of its long-term ambitions or strategic priorities laid out in its corporate strategy; Gilead's ability to accelerate or sustain revenues for its virology, oncology and other programs; Gilead's ability to realize the potential benefits of acquisitions, collaborations or licensing arrangements; Gilead's ability to initiate, progress or complete clinical trials within currently anticipated timeframes or at all, the possibility of unfavorable results from ongoing and additional clinical trials and the risk that safety and efficacy data from clinical trials may not warrant further development of Gilead's product candidates or the product candidates of Gilead's strategic partners; Gilead's ability to submit new drug applications for new product candidates or expanded indications in the currently anticipated timelines; Gilead's ability to receive regulatory approvals in a timely manner or at all, and the risk that any such approvals may be subject to significant limitations on use; Gilead's ability to successfully commercialize its products; the risk of potential disruptions to the manufacturing and supply chain of Gilead's products, including the risk that Kite may be unable to increase its manufacturing capacity, timely manufacture and deliver its products or produce an amount of supply sufficient to satisfy demand for such products; pricing and reimbursement pressures from government agencies and other third parties, including required rebates and other discounts; a larger than anticipated shift in payer mix to more highly discounted payer segments; market share and price erosion caused by the introduction of generic versions of Gilead products; the risk that physicians and patients may not see advantages of these products over other therapies and may therefore be reluctant to prescribe the products; and other risks identified from time to time in Gilead's reports filed with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, Gilead makes estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures. Gilead bases its estimates on historical experience and on various other market specific and other relevant assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. There may be other factors of which Gilead is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ significantly from these estimates. Gilead directs readers to its press releases, annual reports on Form 10-K, quarterly reports on Form 10-Q and other subsequent disclosure documents filed with the SEC. Gilead claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. + + + The reader is cautioned that forward-looking statements are not guarantees of future performance and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead and Gilead assumes no obligation to update or supplement any such forward-looking statements other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statements. + + + Gilead owns or has rights to various trademarks, copyrights and trade names used in its business, including the following: GILEAD®, GILEAD SCIENCES®, AMBISOME®, ATRIPLA®, BIKTARVY®, CAYSTON®, COMPLERA®, DESCOVY®, DESCOVY FOR PREP®, EMTRIVA®, EPCLUSA®, EVIPLERA®, GENVOYA®, HARVONI®, HEPCLUDEX®, HEPSERA®, JYSELECA®, LETAIRIS®, ODEFSEY®, RANEXA®, SOVALDI®, STRIBILD®, SUNLENCA®,TECARTUS®, TRODELVY®, TRUVADA®, TRUVADA FOR PREP®, TYBOST®, VEKLURY®, VEMLIDY®, VIREAD®, VOSEVI®, YESCARTA® and ZYDELIG®. This report may also refer to trademarks, service marks and trade names of other companies. + + + + + 2 + + + + + + + + Gilead in 2023 + + + Transformation + + + Impact is Tangible + + + Portfolio with quality, + + + depth and breadth, strong + + + financial performance, + + + and consistent execution. + + + + + HIV Portfolio Positioned for Continued Growth + + + Leading HIV portfolio and poised to shape long-acting market following first lenacapavir approvals. + + + + + Fast-Growing + + + Oncology Business + + + Strong commercial + + + performance and clinical + + + momentum, including recent positive data. + + + + + + 3 + + + + + + + Strong Progress in First Years of Transformation + + + + + + Pipeline Bolstered with + + + + + 81% Increase in + + + + + 6 New Products with 9 + + + + + + + M&A and Partnerships1 + + + + + Pipeline Portfolio + + + + + Approved Indications, + + + + + + + + + + + including 6 in Oncology2 + + + + + + + + + Oncology + + + Virology + + + Inflammation + + + 32 + + + 12 + + + 12 + + + 8 + + + + + 58 + + + 36 + + + 17 + + + 5 + + + + + + Q119Q422 + + + Illustration does not include opt-in assets + + + Four-year comparison reflects the time period January 2019 - December 2022 (except as otherwise noted). Projects are by asset-indication, excluding components of combo projects (HBV Cure, HIV Cure, lenacapavir projects) + + +4 1. Collaboration with Arcellx has been announced but not yet closed. Closing of transaction subject to regulatory clearances and other conditions. Agreement to acquire Tmunity has been announced but not yet closed. Closing of transaction subject to regulatory clearances and other conditions. 2.Approved indications reflects first approval in a major market or new indications, does not include line extensions (e.g., expanded pediatric label). Count includes conditional approval of Hepcludex (bulevirtide) by the European Medicines Agency in July 2020. Gilead acquired MYR / Hepcludex in December 2020. + + + + + + +Accelerating Progresswith Strategic Priorities + + + Corporate Ambitions + + + + + +Bring 10+ Transformative + + + + +Be the Biotech employer + + + + +Deliver Shareholder Value in a + + + + + + +Therapies to Patients by 2030 + + + + + and partner of choice + + + + + Sustainable, Responsible Manner + + + + + + Key Strategic Priorities for 2023+ + + + + + + Maximize Near- + + + Term Revenue + + + Growth + + + + + Maximize Impact of + + + Long-Acting HIV + + + Therapies + + + + + Expand and Deliver + + + on Oncology + + + Programs + + + + + + 5 + + +This is an excerpt of the original content. To continue reading it, access the original document here. +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Gilead Sciences Inc. published this content on 09 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2023 02:50:01 UTC. + + diff --git a/news/GILD/2023.01.13/AHF Continues Hammering Gilead CEO over Drug Profiteering.txt b/news/GILD/2023.01.13/AHF Continues Hammering Gilead CEO over Drug Profiteering.txt new file mode 100644 index 0000000000000000000000000000000000000000..7f13c9956409fc4410e707e39396d16e0e635c4e --- /dev/null +++ b/news/GILD/2023.01.13/AHF Continues Hammering Gilead CEO over Drug Profiteering.txt @@ -0,0 +1 @@ +On Friday, January 13th, at 12:00 p.m. (noon), advocates and mobilizers affiliated with AIDS Healthcare Foundation (AHF), will host a protest targeting HIV and Hepatitis C drug giant, Gilead Sciences, over the Bay Area company's drug pricing, policies and overall greed.This protest will take place outside the Market Street home of Gilead CEO Daniel O'Day and is part of an ongoing campaign by AHF against Gilead.According to Salary.com, in 2021, 'As Chairman and Chief Executive Officer at GILEAD SCIENCES, INC., Daniel P. O'Day made $19,229,466 in total compensation. Of this total $1,650,000 was received as a salary, $3,446,190 was received as a bonus, $3,375,004 was received in stock options, $9,764,060 was awarded as stock and $994,212 came from other types of compensation. This information is according to proxy statements filed for the 2021 fiscal year.'WHAT: SAN FRANCISCO GILEAD PROTEST over drug pricing & policiesWHEN: Friday, January 13, 2023 TIME: 12:00 p.m. (noon)WHERE: In front of the home of Daniel O'Day (CEO, Gilead Sciences) 765 Market Street (36F), San Francisco, CA 94103 (cross street: 4th)WHO: Advocates with signs reading 'Stop Being Greedy' and, playing off the company's logo, with a few red letters scrawled over Gilead's logo to make it read 'Greed' and 'Greediad'Contact:Tel: +1.323.791.5526Email: cell ged.kenslea@ahf.orgAdvocates are protesting Gilead over its profound and tone-deaf greed with pricing and policies, particularly illegal restrictions the company placed early last year on access to 340B drug pricing for its branded hepatitis C treatments for certain pharmacies. Gilead is now one of over 15 major drug companies that have illegally placed such restrictions on its drugsAHF's protest targeting Gilead CEO O'Day follows the World AIDS Day protests in early December as well as a weeklong, twice-daily series of protests in late October targeting the drug company. Gilead is maker of most of the key and most effective HIV medications and Hepatitis C drugs. AHF also previously protested Gilead's greed and actions on four separate occasions during the spring and summer at the Bay Area drug maker's headquarters.The 340B drug pricing program is administered by the U.S. Health Resources & Services Administration (HRSA). It has helped provide low-cost medications and better health outcomes for millions of Americans through the nonprofit clinics and hospitals that serve them. Safety net providers like Ryan White providers, who serve patients living with HIV, have the right under the 340B statute to purchase drugs at a discounted price. In March, Gilead put profits before patients by unilaterally imposing unlawful conditions on when and how it will give discounts for certain Hepatitis C drugsThe ongoing protests are part of a sustained advocacy campaign by AHF against Gilead. They follow closely on the heels of Gilead protests held over the past two weeks in San Francisco as well as three protests held last month by AHF on World AIDS Day (12/1/22) in Oceanside, CA; Miami, FL and Washington, D.C., each in front of local Gilead company offices.AHF mobilizers and advocates will be also deploying social media in real time at many of these Gilead protests and will be using hashtags: BadGilead - PeopleBeforeProfit - GreedyGilead(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/GILD/2023.01.19/Gilead Sciences to Release Fourth Quarter & Full Year 2022 Financial Results on Thursda...txt b/news/GILD/2023.01.19/Gilead Sciences to Release Fourth Quarter & Full Year 2022 Financial Results on Thursda...txt new file mode 100644 index 0000000000000000000000000000000000000000..70c06561bbc8b4ec00a6fca0b253f2a0d8b3e80c --- /dev/null +++ b/news/GILD/2023.01.19/Gilead Sciences to Release Fourth Quarter & Full Year 2022 Financial Results on Thursda...txt @@ -0,0 +1,11 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) announced today that its fourth quarter and full year 2022 financial results and full year 2023 financial guidance will be released on Thursday, February 2 after the market closes. At 4:30 p.m. Eastern Time that day, Gilead’s management will host a webcast to discuss the company’s fourth quarter and full year 2022 financial results and provide a business update. + +A live webcast will be available on the Investor Relations section of www.gilead.com and will be archived there for one year. + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. + +For more information on Gilead Sciences, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005621/en/ \ No newline at end of file diff --git a/news/GILD/2023.01.19/The Robert A. Winn Diversity in Clinical Trials Award Program Established by the Bristo...txt b/news/GILD/2023.01.19/The Robert A. Winn Diversity in Clinical Trials Award Program Established by the Bristo...txt new file mode 100644 index 0000000000000000000000000000000000000000..84f55fafd5fc24d658c31fb4bc42b7156790faa0 --- /dev/null +++ b/news/GILD/2023.01.19/The Robert A. Winn Diversity in Clinical Trials Award Program Established by the Bristo...txt @@ -0,0 +1 @@ +* Amgen Joins Gilead Sciences as a Program Supporter* Applications Now Open for Physicians and Medical StudentsOriginally published on Bristol Myers Squibb News & PerspectivesPRINCETON, N.J. - The Robert A. Winn Diversity in Clinical Trials Award Program (Winn Award Program) established by the Bristol Myers Squibb Foundation (BMSF) announced that Amgen, a global biotechnology company, has committed to contribute $8 million over the next four years. This contribution will enable the program to reach additional physicians and medical students, further expanding the initiative that aims to extend the reach of clinical trials in underserved patient populations in U.S. communities.The Winn Award Program has so far trained 114 early-stage investigator physicians, and it has provided an immersive experience in community-based clinical research to 44 medical students who are from diverse racial and ethnic backgrounds. It is now accepting applications from physicians for the third cohort of its Robert A. Winn Diversity in Clinical Trials: Career Development Award (Winn CDA) and from medical students for the second cohort of its Robert A. Winn Diversity in Clinical Trials: Clinical Investigator Pathway Program (Winn CIPP) Award. With the additional support from Amgen, it is set to reach more than 300 diverse and community-oriented clinical investigators and 300 diverse medical students by 2027."With the skills, experience and networks they will gain from participation in the Winn Award Program, these extraordinary physicians and students will make a significant difference in how healthcare is delivered in the U.S.," said Jude Ngang, Executive Director, and leader of the Amgen Representation in Clinical Research (RISE) program. "Supporting physicians and medical students dedicated to health equity and emphasizing the need for increasing diversity in clinical trials early in their careers is an important step toward improving the health of all people."Diversity in clinical trials is a longstanding challenge in healthcare, and currently close to 80% of participants in clinical research trials are white, according to the Food and Drug Administration. Lack of diversity in clinical trials hinders the ability to eliminate health disparities and ensure medicines are safe and effective for all patients. To address this issue, the BMSF created the Winn Award Program in 2020 as part of its commitment to health equity, inclusion and diversity. The BMSF chose Virginia Commonwealth University (VCU) as the program implementation partner and the American Association for Cancer Research (AACR) as a curriculum partner to deliver The Robert A. Winn - AACR Design and Implementation of Clinical Trials Workshop, the first training the Winn CDA scholars receive. The program is named in honor of Robert A. Winn, M.D., Director and Lipman Chair in Oncology, VCU Massey Cancer Center and Chair of the Winn Award Program National Advisory Committee."It is no secret that the current state of clinical research does not reflect the diversity of the U.S. population," said John Damonti, President, Bristol Myers Squibb Foundation (BMSF). "Substantial, lasting change can be accomplished only if everyone is a part of this movement in diversifying healthcare. As we strive to ensure that safe and effective medicines and therapies are available for all across the nation, we are honored to have Amgen serve as a supporter of the Winn Award Program in achieving this vision."The BMSF pledged $100 million to support 250 Winn CDAs and 250 Winn CIPPs over the span of the program. In 2022, Gilead Sciences committed $14 million of support, including 10 Winn CDAs and 10 Winn CIPPs per year for four years."Gilead is pleased to welcome Amgen to the Winn Award Program as a new and very appreciated supporter," said Merdad Parsey, MD, PhD, Chief Medical Officer, Gilead Sciences. "At Gilead, we're committed to creating a healthier world for everyone. By investing in the training and development of clinical trial scientists, we're recognizing and supporting transformative medical breakthroughs while expanding reach to more patient populations and communities."The Winn Award Program currently offers two awards: the Winn CDA, a two-year program designed to support diverse physicians and those who have demonstrated commitment to increasing diversity in clinical trial research within their local communities, and the Winn CIPP, a six-week summer externship during which diverse medical students are provided an immersive experience in community-based clinical research. The Winn Award Program encourages others in the healthcare industry to consider participating as faculty and/or sponsors. Interested parties can learn more about the program at diversityinclinicaltrials.org and contact the team at winnawardinfo@vcu.edu.About the Bristol Myers Squibb FoundationThe Bristol Myers Squibb Foundation, an independent charitable organization, focuses on communities most at risk of suffering the impacts of serious diseases in regions of the world that are hardest hit. It empowers partners to develop and test innovative solutions to advance health equity and improve access to quality healthcare for patients. Grant making focuses on cancer, cardiovascular disease, and immunologic disease, as well as clinical trial diversity in the United States, and prevalent cancers in nine African countries, Brazil and China. The mission of the Bristol Myers Squibb Foundation is to promote health equity and improve the health outcomes of populations disproportionately affected by serious diseases by strengthening healthcare worker capacity, integrating medical care and community-based supportive services and mobilizing communities in the fight against disease. For more information, visit Bristol Myers Squibb Foundation (bms.com).About Virginia Commonwealth UniversityVirginia Commonwealth University (VCU) is a major, urban public research university with national and international rankings in sponsored research. Located in downtown Richmond, VCU enrolls nearly 29,000 students in 238 degree and certificate programs in the arts, sciences and humanities. Twenty-three of the programs are unique in Virginia, many of them crossing the disciplines of VCU's 11 schools and three colleges. For more, please visit vcu.edu.About the American Association for Cancer ResearchFounded in 1907, the American Association for Cancer Research (AACR) is the world's first and largest professional organization dedicated to advancing cancer research and its mission to prevent and cure cancer. AACR membership includes more than 52,000 laboratory, translational, and clinical researchers; population scientists; other health care professionals; and patient advocates residing in 130 countries. The AACR marshals the full spectrum of expertise of the cancer community to accelerate progress in the prevention, diagnosis, and treatment of cancer by annually convening more than 30 conferences and educational workshops, the largest of which is the AACR Annual Meeting. In addition, the AACR publishes 10 prestigious, peer-reviewed scientific journals and a magazine for cancer survivors, patients, and their caregivers. The AACR funds meritorious research directly as well as in cooperation with numerous cancer organizations. As the Scientific Partner of Stand Up To Cancer, the AACR provides expert peer review, grants administration, and scientific oversight of team science and individual investigator grants in cancer research that have the potential for near-term patient benefit. The AACR actively communicates with legislators and other policymakers about the value of cancer research and related biomedical science in saving lives from cancer. For more information about the AACR, visit www.AACR.org.About Gilead Sciences, Inc.Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California.Corporate Philanthropy-NewsMedia: media@bms.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/GILD/2023.01.27/Gilead Sciences to Present at Upcoming Investor Conferences.txt b/news/GILD/2023.01.27/Gilead Sciences to Present at Upcoming Investor Conferences.txt new file mode 100644 index 0000000000000000000000000000000000000000..c446b27fe61df958bf85d3b9a1d79f4693cfa411 --- /dev/null +++ b/news/GILD/2023.01.27/Gilead Sciences to Present at Upcoming Investor Conferences.txt @@ -0,0 +1,17 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) announced today that its executives will be speaking at the following investor conferences: + +SVB Securities Global Biopharma Conference on Tuesday, February 14 at 11:20 AM Eastern Time + +Cowen Annual Health Care Conference on Tuesday, March 7 at 11:10 AM Eastern Time + +Barclays Global Healthcare Conference on Wednesday, March 15 at 10:15 AM Eastern Time + +The live webcasts can be accessed at the company’s investors page at investors.gilead.com. The replays will be available for at least 30 days following the presentation. + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. + +For more information on Gilead Sciences, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230127005403/en/ \ No newline at end of file diff --git a/news/GILD/2023.01.27/Ocado's non-exec director made CFO of Vertical Aerospace.txt b/news/GILD/2023.01.27/Ocado's non-exec director made CFO of Vertical Aerospace.txt new file mode 100644 index 0000000000000000000000000000000000000000..7ae2cd193588c91d13466c9241831d17784781e2 --- /dev/null +++ b/news/GILD/2023.01.27/Ocado's non-exec director made CFO of Vertical Aerospace.txt @@ -0,0 +1 @@ +Ocado Group PLC - Hatfield, England-based licensor of grocery fulfilment technology to global retailers, including Kroger in the US, and Coles Group in Australia - Says non-executive director John Martin has been appointed as chief financial officer of Vertical Aerospace, effective from February 20. Vertical Aerospace is a Bristol, England-based aerospace manufacturer.Current stock price: 674.41 pence, down 1.3% in London on Friday afternoon12 month change: down 57%By Holly Beveridge; Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/GILD/2023.01.27/WHO and Gilead Sciences Extend Collaborative Agreement to Enhance Access to Treatment f...txt b/news/GILD/2023.01.27/WHO and Gilead Sciences Extend Collaborative Agreement to Enhance Access to Treatment f...txt new file mode 100644 index 0000000000000000000000000000000000000000..91018c8da18ca6f8a64ba2d98ce7660cc92df7cd --- /dev/null +++ b/news/GILD/2023.01.27/WHO and Gilead Sciences Extend Collaborative Agreement to Enhance Access to Treatment f...txt @@ -0,0 +1 @@ +The World Health Organization (WHO) and Gilead Sciences have signed a new agreement for the donation of 304,700 vials of AmBisome (liposomal amphotericin B for injection), for the treatment of visceral leishmaniasis in countries most impacted by the disease, extending their previous agreement to 2025.The new three-year collaboration (2023-2025), estimated at US$ 11.3 million also includes financial assistance that will support improved coverage and access to diagnosis and treatment for affected communities due to visceral leishmaniasis."This longstanding collaboration between WHO and Gilead Sciences exemplifies a successful public-private partnership for advancing the public health agenda and bringing the needed care to affected populations," said Dr Tereza Kasaeva, Acting Assistant Director-General, a.i., Universal Health Coverage/Communicable & Noncommunicable Diseases. "During the past 9 years, AmBisome, donated by Gilead Sciences, has brought endemic countries, especially in the South-East Asia Region on the verge of eliminating visceral leishmaniasis as a public health problem- a dreaded disease, known for high potential for mortality and outbreak."The product donation will benefit affected populations in high-burden countries such as Bangladesh, Ethiopia, India, Kenya, Nepal, Somalia, South Sudan, Sudan, and Uganda along with expansion to include Eritrea, and Yemen as new recipients to treat severe and complicated cases.Gilead Science's financial assistance will support WHO's global efforts to prevent, control, and eliminate visceral leishmaniasis and its impact on the disadvantaged and vulnerable populations in many endemic countries."Gilead is proud to renew our commitment supporting the World Health Organization's efforts to control deaths caused by visceral leishmaniasis in countries most impacted by this life-threatening illness." said Daniel O'Day, Chairman and Chief Executive Officer, Gilead Sciences. "Through this sustained public-private partnership, we have made significant progress in improving the health outcomes of disadvantaged populations in many endemic countries."Visceral leishmaniasis also known as kala-azar, is endemic in 80 countries worldwide. It is the most serious form of leishmaniasis as it is fatal without treatment."The World Health Assembly has endorsed the new NTD (Neglected Tropical Diseases) roadmap 2021-2030 and the renewal of this agreement comes at an opportune time as we gear up to achieve ambitious goals set for visceral leishmaniasis and substantially reduce the burden of disease," said Dr Ibrahima Socé Fall, Director, WHO Department of Control of Neglected Tropical Diseases. "We look forward to this collaboration in our collective efforts towards strengthening services in endemic countries and curbing the menace of this life-threatening condition.""The continued donation of AmBisome has improved access to treatment by achieving better outcomes and substantially reducing the duration of treatment from several days to as short as a single injection over few hours, particularly in South-East Asia Region," said Daniel Argaw Dagne, Unit Head, Prevention Treatment and Care, WHO Department of Control of Neglected Tropical Diseases. "Major countries in elimination settings in South-East Asia Region are at the lowest number of cases and this agreement with Gilead Sciences will enable national programmes to consolidate the gains made over the years and move towards validation of elimination, a crucial step in the pathway of elimination."Visceral leishmaniasis is characterized by irregular bouts of fever, weight loss, enlargement of the spleen and liver, and anaemia. The disease affects some of the world's poorest people and is associated with malnutrition, population displacement, poor housing, a weak immune system, and a lack of financial resources.The disease is highly endemic in Brazil, the Indian subcontinent, and East Africa.As a result of this longstanding collaboration, VL morbidity in South East Asia was reduced by more than 82 percent and the case fatality decreased by 95 percent. An estimated 50,000-90,000 new cases occur worldwide each year. Over 90 percent of new cases are reported from seven countries: Brazil, Ethiopia, India, Kenya, Somalia, South Sudan, and Sudan. However, just six years ago, case estimates ranged up to 300,000 cases per year.Copyright World Health Organization. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English \ No newline at end of file diff --git a/news/GILD/2023.01.30/AHF Protests Target Gilead CEO's Drug Profiteering.txt b/news/GILD/2023.01.30/AHF Protests Target Gilead CEO's Drug Profiteering.txt new file mode 100644 index 0000000000000000000000000000000000000000..82407248c155472ffcbb1162663c7f937e7c2a87 --- /dev/null +++ b/news/GILD/2023.01.30/AHF Protests Target Gilead CEO's Drug Profiteering.txt @@ -0,0 +1 @@ +On Monday and Tuesday, January 30th and 31st, advocates and mobilizers affiliated with AIDS Healthcare Foundation (AHF), will continue with two days of protests targeting HIV and Hepatitis C drug giant, Gilead Sciences, over the Bay Area company's drug pricing, policies and overall greed.The protests will take place each day outside the Market Street condominium home of Gilead CEO Daniel O'Day at 2:00 p.m. The actions are part of an ongoing and aggressive advocacy campaign by AHF hammering Gilead and its multimillionaire CEO over his and the company's drug profiteering.WHAT: SAN FRANCISCO: Protests over Gilead's drug pricing & policiesWHEN: Monday, January 30 - 2:00 p.m. andTuesday, January 31 - 2:00 p.m.WHERE: In front of the condominium home of Daniel O'Day (CEO, Gilead Sciences) 765 Market Street (#36F), San Francisco, CA 94103 (cross street: 4th)WHO: 15 advocates & mobilizers with signs reading 'No Way O'Day,' 'Stop Being Greedy' and some with Gilead's logo altered to make it read 'Greed' and 'Greediad' instead of GileadONSITE SF & FOSTER CITY MEDIA CONTACTS: Jesse Brooks, AHF Advocate/Mobilizer, 510.575.8245 mobile jesse.brooks@ahf.orgJohn Farina, Associate Director of Advocacy - Social Media Platforms for AHF +1.216.832.7106 mobile john.farina@ahf.orgMain AHF Media Contact: Ged Kenslea, +1.323.791.5526 cell ged.kenslea@ahf.orgAccording to Salary.com, in 2021, 'As Chairman and Chief Executive Officer at GILEAD SCIENCES, INC., Daniel P. O'Day made $19,229,466 in total compensation. Of this total $1,650,000 was received as a salary, $3,446,190 was received as a bonus, $3,375,004 was received in stock options, $9,764,060 was awarded as stock and $994,212 came from other types of compensation. This information is according to proxy statements filed for the 2021 fiscal year.'Advocates are protesting Gilead over its profound and tone-deaf greed with pricing and policies, particularly illegal restrictions the company placed early last year on access to 340B drug pricing for its branded hepatitis C treatments for certain pharmacies. Gilead is now one of over 15 major drug companies that have illegally placed such restrictions on its drugsAHF's protest targeting Gilead CEO O'Day follows the World AIDS Day protests in early December as well as a weeklong, twice-daily series of protests in late October targeting the drug company. Gilead is maker of most of the key and most effective HIV medications and Hepatitis C drugs. AHF also previously protested Gilead's greed and actions on four separate occasions during the spring and summer at the Bay Area drug maker's headquarters.The 340B drug pricing program is administered by the U.S. Health Resources & Services Administration (HRSA). It has helped provide low-cost medications and better health outcomes for millions of Americans through the nonprofit clinics and hospitals that serve them. Safety net providers like Ryan White providers, who serve patients living with HIV, have the right under the 340B statute to purchase drugs at a discounted price. In March, Gilead put profits before patients by unilaterally imposing unlawful conditions on when and how it will give discounts for certain Hepatitis C drugsThe ongoing protests are part of a sustained advocacy campaign by AHF against Gilead. They follow closely on the heels of Gilead protests held over the past two weeks in San Francisco as well as three protests held last month by AHF on World AIDS Day (12/1/22) in Oceanside, CA; Miami, FL and Washington, D.C., each in front of local Gilead company offices.AHF mobilizers and advocates will be also deploying social media in real time at many of these Gilead protests and will be using hashtags: #BadGilead - #PeopleBeforeProfit - #GreedyGileadAIDS Healthcare Foundation (AHF), the largest global AIDS organization, currently provides medical care and/or services to over 1.7 million individuals in 45 countries worldwide in the US, Africa, Latin America/Caribbean, the Asia/Pacific Region and Eastern Europe.Contact:Tel: 323-860-5200(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/GILD/2023.01.30/Gilead Sciences to Present at Upcoming Investor Conferences.txt b/news/GILD/2023.01.30/Gilead Sciences to Present at Upcoming Investor Conferences.txt new file mode 100644 index 0000000000000000000000000000000000000000..70b83c2819961d800db0466d497cbd83daf5c6f0 --- /dev/null +++ b/news/GILD/2023.01.30/Gilead Sciences to Present at Upcoming Investor Conferences.txt @@ -0,0 +1 @@ +Gilead Sciences, Inc. (Nasdaq: GILD) announced today that its executives will be speaking at the following investor conferences: SVB Securities Global Biopharma Conference on Tuesday, February 14 at 11:20 AM Eastern Time Cowen Annual Health Care Conference on Tuesday, March 7 at 11:10 AM Eastern TimeBarclays Global Healthcare Conference on Wednesday, March 15 at 10:15 AM Eastern TimeThe live webcasts can be accessed at the company's investors page at investors.gilead.com. The replays will be available for at least 30 days following the presentation.About Gilead SciencesGilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California.Contact:Jacquie RossEmail: Investor_relations@gilead.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/GILD/2023.01.30/Kite and Arcellx Close Agreement to Co-develop and Co-commercialize Late-stage Clinical...txt b/news/GILD/2023.01.30/Kite and Arcellx Close Agreement to Co-develop and Co-commercialize Late-stage Clinical...txt new file mode 100644 index 0000000000000000000000000000000000000000..1c264abfb416b0f987925df75554801f88857987 --- /dev/null +++ b/news/GILD/2023.01.30/Kite and Arcellx Close Agreement to Co-develop and Co-commercialize Late-stage Clinical...txt @@ -0,0 +1,31 @@ + +Kite, a Gilead Company (NASDAQ: GILD), and Arcellx, Inc. (NASDAQ: ACLX), today announced the closing of the companies’ previously announced global strategic collaboration to co-develop and co-commercialize Arcellx’s lead late-stage product candidate, CART-ddBCMA, for the treatment of patients with relapsed or refractory multiple myeloma. Multiple myeloma is an incurable disease for most patients and the need remains for effective, safe and broadly accessible therapies. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230129005022/en/ +Currently being investigated in a Phase 2 pivotal trial, CART-ddBCMA is Arcellx’s T-cell therapy utilizing the company’s novel synthetic binder, the D-Domain. Kite and Arcellx will jointly advance and commercialize the CART-ddBCMA asset in the U.S., and Kite will commercialize the product outside the U.S. + +About Arcellx + +Arcellx, Inc. is a clinical-stage biotechnology company reimagining cell therapy by engineering innovative immunotherapies for patients with cancer and other incurable diseases. Arcellx believes that cell therapies are one of the forward pillars of medicine and Arcellx's mission is to advance humanity by developing cell therapies that are safer, more effective, and more broadly accessible. Arcellx's lead product candidate, CART-ddBCMA, is being developed for the treatment of relapsed or refractory multiple myeloma (r/r MM) in a Phase 2 pivotal trial. CART-ddBCMA has been granted Fast Track, Orphan Drug, and Regenerative Medicine Advanced Therapy designations by the U.S. Food and Drug Administration. + +Arcellx is also advancing its dosable and controllable CAR-T therapy, ARC-SparX, through two programs: a Phase 1 study of ACLX-001 for r/r MM, initiated in the second quarter of 2022; and ACLX-002 in relapsed or refractory acute myeloid leukemia and high-risk myelodysplastic syndrome, initiated in the fourth quarter of 2022. For more information on Arcellx, please visit www.arcellx.com. Follow Arcellx on Twitter (@arcellx) and LinkedIn. + +About Kite + +Kite, a Gilead Company, is a global biopharmaceutical company based in Santa Monica, California, focused on cell therapy to treat and potentially cure cancer. As the global cell therapy leader, Kite has treated more patients with CAR T-cell therapy than any other company. Kite has the largest in-house cell therapy manufacturing network in the world, spanning process development, vector manufacturing, clinical trial supply and commercial product manufacturing. For more information on Kite, please visit www.kitepharma.com. Follow Kite on social media on Twitter (@KitePharma) and LinkedIn. + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. Gilead Sciences acquired Kite in 2017. + +Gilead Forward-looking Statements + +This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the ability of the parties to complete the transaction in a timely manner or at all; the risk that Gilead and Kite may not realize the anticipated benefits of the collaboration with Arcellx; difficulties or unanticipated expenses in connection with the collaboration, including with respect to the co-development, co-commercialization, and manufacturing of CART-ddBCMA or other programs subject of the collaboration and associated funding; the possibility that the parties may make a strategic decision to terminate this collaboration at any time; the risk that Gilead’s investment in Arcellx will lose value for any number of reasons; uncertainties relating to regulatory applications, and related filing and approval timelines for CART-ddBCMA or other programs subject of the collaboration, including the risk that FDA may not approve any such programs on the currently anticipated timelines or at all, and any marketing approvals, if granted, may have significant limitations on its use; the potential effect of any of the foregoing on Gilead and Kite’s earnings; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead and Kite, and Gilead and Kite assume no obligation and disclaim any intent to update any such forward-looking statements. + +Arcellx, Inc. Forward-looking Statements + +This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this press release that are not purely historical are forward-looking statements, including the parties’ expected co-development and co-commercialization activities. The forward-looking statements contained herein are based upon Arcellx's current expectations and involve assumptions that may never materialize or may prove to be incorrect. These forward-looking statements are neither promises nor guarantees and are subject to a variety of risks and uncertainties, including uncertainty as to whether the anticipated benefits and opportunities of the proposed collaboration may not be realized or may take longer to realize or may cost more than expected; challenges in technology transfer and cell therapy manufacturing, particularly in scaling up to commercial supply volumes, that can limit the benefits of the collaboration; challenges inherent in new product candidate development, including the uncertainty of clinical success and obtaining regulatory approvals; challenges associated with collaborating with third parties, including intellectual property, operational, financial and other risks; uncertainty of commercial success for new products; the ability of Arcellx and Kite to successfully execute their strategic plans; the risk that the collaboration can be terminated; potential for other unexpected hurdles, costs or delays; and other risks that may be found in the section entitled Part II, Item 1A (Risk Factors) in the Quarterly Report on Form 10-Q for the period ended September 30, 2022, filed with the Securities and Exchange Commission (SEC) on November 14, 2022, and other documents that Arcellx files from time to time with the SEC. These forward-looking statements are made as of the date of this press release, and Arcellx assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. + +Kite, the Kite logo and GILEAD are trademarks of Gilead Sciences, Inc. or its related companies. + +For more information on Kite, please visit the company’s website at www.kitepharma.com. Follow Kite on social media on Facebook, Twitter (@KitePharma), LinkedIn and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230129005022/en/ \ No newline at end of file diff --git a/news/GILD/2023.02.01/Gilead Awards $7.6 Million in Grants to Advance Health Equity in Breast Cancer.txt b/news/GILD/2023.02.01/Gilead Awards $7.6 Million in Grants to Advance Health Equity in Breast Cancer.txt new file mode 100644 index 0000000000000000000000000000000000000000..63045ba200cc5130d0d07179029521c149c8d64a --- /dev/null +++ b/news/GILD/2023.02.01/Gilead Awards $7.6 Million in Grants to Advance Health Equity in Breast Cancer.txt @@ -0,0 +1,26 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) awarded $7.6 million in grant funding to 24 U.S.-based, community organizations through the newly created Toward Health Equity (THE) Oncology Grant™. The funding will support evidence-based interventions that address barriers to care and social determinants of health including patient navigator training, cultural competency training, and services combating barriers such as transportation. + +“Gilead is committed to advancing health equity and supporting these vital patient advocacy organizations working to close gaps in breast cancer care,” said Deborah H. Telman, Executive Vice President, Corporate Affairs and General Counsel, Gilead Sciences. “We believe our Toward Health Equity Oncology Grant awards contribute important new understanding to advance and care for anyone living with breast cancer. We look forward to seeing their dynamic, innovative programs come to life.” + +Breast cancer affects more American women than any other type of cancer, besides skin cancer.1 But due to social, environmental, and economic disparities, people of color are at increased risk of developing or dying from breast cancer.2 In 2023, an estimated 300,000 women will be diagnosed with breast cancer in the U.S. and more than 43,000 women will die from breast cancer.3 + +The 2023 funding will support evidence-based interventions that focus on patient navigation and digital/mobile interventions to improve health equity. All 2023 grantees were chosen based on several criteria including their ability to create measurable and sustainable change toward health equity. + +THE Oncology Grant builds on Gilead’s 2022 program, which provided $5.7 million in grants to 21 U.S. organizations for programs working to advance health equity for Black people impacted by triple-negative breast cancer. The new grantees serve historically neglected and underrepresented communities including Hispanic, Jewish, LGBTQIA, Indigenous American, and others, and will work to address access disparities in the treatment of breast cancer. + +The 2023 THE Oncology Grant awardees include: + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, inflammation and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. + +Gilead has promoted equity, particularly healthcare equity, since the company brought its first therapies to the market. Through global partnerships, Gilead’s medicines today reach millions of people in low- and middle-income countries around the world. In the United States, Gilead has committed more than $100 million over 10 years through the COMPASS Initiative® to community organizations that are working to combat HIV in the U.S. South. In 2020, Gilead launched the Racial Equity Community Impact Fund to support organizations tackling racial inequities affecting Black communities across the United States. + +Gilead and the Gilead logo are trademarks of Gilead Sciences, Inc., or its related companies. +For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. + +1 Breast Cancer Statistics. The American Society of Clinical Oncology. Breast Cancer: Statistics | Cancer.Net. Last accessed January 31, 2023. +2 Cancer Disparities. The National Cancer Institute. Cancer Disparities - NCI. Last accessed January 31, 2023. +3 Key Statistics for Breast Cancer. The American Cancer Society. https://www.cancer.org/cancer/breast-cancer/about/how-common-is-breast-cancer.html, last accessed January 31, 2023. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230131006146/en/ \ No newline at end of file diff --git a/news/GILD/2023.02.02/Gilead : Q4 Earnings Snapshot.txt b/news/GILD/2023.02.02/Gilead : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..612452f3e323b5d558cecba5bcb80a45ab9631e8 --- /dev/null +++ b/news/GILD/2023.02.02/Gilead : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +FOSTER CITY, Calif. (AP) _ Gilead Sciences Inc. (GILD) on Thursday reported fourth-quarter net income of $1.64 billion.On a per-share basis, the Foster City, California-based company said it had net income of $1.30. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, were $1.67 per share.The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.The HIV and hepatitis C drugmaker posted revenue of $7.39 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $6.58 billion.Gilead expects full-year earnings in the range of $6.60 to $7 per share.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GILD at https://www.zacks.com/ap/GILDCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git a/news/GILD/2023.02.02/Gilead Sciences Announces 2.7 Percent Increase in First Quarter 2023 Dividend.txt b/news/GILD/2023.02.02/Gilead Sciences Announces 2.7 Percent Increase in First Quarter 2023 Dividend.txt new file mode 100644 index 0000000000000000000000000000000000000000..47e48048d599dd778aa9f224b7566d09b7198b42 --- /dev/null +++ b/news/GILD/2023.02.02/Gilead Sciences Announces 2.7 Percent Increase in First Quarter 2023 Dividend.txt @@ -0,0 +1,7 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) today announced that the company’s Board of Directors has declared an increase of 2.7% in the company’s quarterly cash dividend, beginning in the first quarter of 2023. The increase will result in a quarterly dividend of $0.75 per share of common stock. The dividend is payable on March 30, 2023, to stockholders of record at the close of business on March 15, 2023. Future dividends will be subject to Board approval. + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230201006125/en/ \ No newline at end of file diff --git a/news/GILD/2023.02.02/Gilead Sciences Announces Fourth Quarter and Full Year 2022 Financial Results.txt b/news/GILD/2023.02.02/Gilead Sciences Announces Fourth Quarter and Full Year 2022 Financial Results.txt new file mode 100644 index 0000000000000000000000000000000000000000..91cf1161065de848016ac5c0259bfa3f487e00a5 --- /dev/null +++ b/news/GILD/2023.02.02/Gilead Sciences Announces Fourth Quarter and Full Year 2022 Financial Results.txt @@ -0,0 +1,10072 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) announced today its results of operations for the fourth quarter and full year 2022. + +“2022 marked Gilead’s strongest full year growth in our base business since HCV sales peaked in 2015. This return to growth was driven by consistent and high quality commercial and clinical execution across our portfolio,” said Gilead’s Chairman and Chief Executive Officer Daniel O’Day. “In HIV, Biktarvy gained market share in the U.S. as it has every quarter since launch, while our long-acting HIV agent, lenacapavir, received its first regulatory approvals. The strong full year growth in oncology was driven by continued increase in demand for Trodelvy and our Cell Therapies. We look forward to building on this momentum in 2023 and further increasing our impact for people and communities worldwide.” + +Fourth Quarter 2022 Financial Results + +Product Sales Performance for the Fourth Quarter 2022 + +Total fourth quarter 2022 product sales increased 2% to $7.3 billion compared to the same period in 2021. Total product sales excluding Veklury increased 9% to $6.3 billion for the fourth quarter 2022 compared to the same period in 2021, primarily due to increased sales in HIV and Oncology as well as contributions from HCV products. + +HIV product sales increased 5% to $4.8 billion for the fourth quarter 2022 compared to the same period in 2021, reflecting higher demand and favorable pricing dynamics, partially offset by channel inventory dynamics in the United States. + +HCV product sales increased 12% to $439 million for the fourth quarter 2022 compared to the same period in 2021, primarily driven by increased patient starts and favorable pricing dynamics in the United States, partially offset by fewer starts in Europe. + +Hepatitis B virus (“HBV”) and hepatitis delta virus (“HDV”) product sales decreased 4% to $255 million for the fourth quarter 2022 compared to the same period in 2021. Vemlidy® (TAF 25 mg) sales decreased 2% in the fourth quarter 2022 compared to the same period in 2021, driven primarily by lower demand and pricing dynamics outside of the United States. Hepcludex® (bulevirtide) contributed $13 million in the fourth quarter 2022 as launch activities continued across Europe. + +Cell Therapy product sales increased 75% to $419 million for the fourth quarter 2022 compared to the same period in 2021. + +Trodelvy® (sacituzumab govitecan-hziy) sales increased 65% to $195 million for the fourth quarter 2022 compared to the same period in 2021, reflecting continued adoption in metastatic triple-negative breast cancer (“TNBC”) in the United States and Europe. + +Veklury sales decreased 26% to $1.0 billion for the fourth quarter 2022 compared to the same period in 2021, primarily driven by lower rates of COVID-19 related hospitalizations. Veklury sales generally reflect COVID-19 related rates and severity of infections and hospitalizations, as well as the availability, uptake and effectiveness of vaccinations and alternative treatments for COVID-19. + +Fourth Quarter 2022 Product Gross Margin, Operating Expenses and Tax + +Full Year 2022 Financial Results + +Product Sales Performance for the Full Year 2022 + +Total full year 2022 product sales were $27.0 billion for the full year 2022 and remained flat compared to the same period in 2021, with growth in HIV, Cell Therapy and Trodelvy, offset by lower Veklury sales. Total product sales excluding Veklury increased 8% to $23.1 billion for the full year 2022 compared to 2021 primarily driven by increased sales in HIV, Cell Therapy and Trodelvy. + +HIV product sales increased 5% to $17.2 billion for the full year 2022 compared to 2021, primarily reflecting higher demand and favorable pricing dynamics, partially offset by channel inventory dynamics and unfavorable foreign exchange rates. + +HCV product sales decreased 4% to $1.8 billion for the full year 2022 compared to 2021, primarily due to unfavorable foreign exchange rates, as well as fewer patient starts and unfavorable pricing dynamics. + +HBV and HDV product sales increased 2% to $988 million for the full year 2022 compared to 2021, driven primarily by higher demand for Vemlidy, mainly in the United States. + +Cell Therapy product sales increased 68% to $1.5 billion for the full year 2022 compared to 2021, primarily due to higher demand for Yescarta in R/R LBCL, as well as Tecartus in R/R ALL and MCL. + +Trodelvy sales increased 79% to $680 million for the full year 2022 compared to 2021, reflecting continued adoption in metastatic TNBC in the United States and Europe. + +Veklury sales decreased 30% to $3.9 billion for the full year 2022 compared to 2021, primarily driven by lower rates of COVID-19 related hospitalizations. + +Full Year 2022 Product Gross Margin, Operating Expenses and Tax + +________________________________ + +(1) + +Beginning in the second quarter of 2022, expenses related to development milestones and other collaboration payments made prior to regulatory approval of a developed product were reclassified from R&D expenses to Acquired IPR&D expenses in the Condensed Consolidated Statements of Income. We believe this presentation assists users of the financial statements to better understand the total costs incurred to acquire IPR&D projects. Prior periods have been recast for both GAAP and Non-GAAP reporting to reflect this classification, resulting in a reduction of previously reported R&D expenses of $669 million and $762 million for the fourth quarter and full year 2021, respectively, and $8 million for the three months ended March 31, 2022. + +Guidance and Outlook + +Gilead is providing full-year 2023 guidance below: + +A reconciliation between GAAP and non-GAAP financial information for the 2023 guidance is provided in the accompanying tables. Also see the Forward-Looking Statements described below. The financial guidance is subject to a number of risks and uncertainties, including uncertainty around the duration and magnitude of the COVID-19 pandemic. + +Key Updates Since Our Last Quarterly Release + +Virology + +Oncology + +Inflammation + +Corporate + +Certain amounts and percentages in this press release may not sum or recalculate due to rounding. + +Conference Call + +At 1:30 p.m. Pacific Time today, Gilead will host a conference call to discuss Gilead’s results. A live webcast will be available on http://investors.gilead.com and will be archived on www.gilead.com for one year. + +Non-GAAP Financial Information + +The information presented in this document has been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), unless otherwise noted as non-GAAP. Management believes non-GAAP information is useful for investors, when considered in conjunction with Gilead’s GAAP financial information, because management uses such information internally for its operating, budgeting and financial planning purposes. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of Gilead’s operating results as reported under GAAP. Non-GAAP financial information generally excludes acquisition-related expenses including amortization of acquired intangible assets and inventory step-up charges, and other items that are considered unusual or not representative of underlying trends of Gilead’s business, fair value adjustments of equity securities and discrete and related tax charges or benefits associated with changes in tax related laws and guidelines. Although Gilead consistently excludes the amortization of acquired intangible assets from the non-GAAP financial information, management believes that it is important for investors to understand that such intangible assets were recorded as part of acquisitions and contribute to ongoing revenue generation. Non-GAAP measures may be defined and calculated differently by other companies in the same industry. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are provided in the accompanying tables. + +Beginning in the first quarter of 2022, consistent with recent industry communications from the U.S. Securities and Exchange Commission (“SEC”), Gilead no longer excludes the initial costs of acquired IPR&D projects from its non-GAAP financial measures. Prior period non-GAAP financial measures are revised to conform to the new presentation. + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. + +Forward-Looking Statements + +Statements included in this press release that are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Gilead cautions readers that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include those relating to: the impact of the COVID-19 pandemic on Gilead’s business, financial condition and results of operations; the development, manufacturing and distribution of Veklury as a treatment for COVID-19, including the uncertainty of the amount and timing of future Veklury sales and Gilead’s ability to effectively manage the global supply and distribution of Veklury; Gilead’s ability to achieve its anticipated full year 2023 financial results, including as a result of potential adverse revenue impacts from COVID-19 and potential revenues from Veklury; Gilead’s ability to make progress on any of its long-term ambitions or strategic priorities laid out in its corporate strategy; Gilead’s ability to accelerate or sustain revenues for its virology, oncology and other programs; Gilead’s ability to realize the potential benefits of acquisitions, collaborations or licensing arrangements, including those involving Arcellx, Daiichi Sankyo, EVOQ, Jounce and Tmunity; Gilead’s ability to identify suitable transactions as part of its business strategy and the risk that Gilead may not be able to complete any such transaction in a timely manner or at all, including the possibility that a governmental entity or regulatory body may delay or refuse to grant approval for the consummation of the transaction; patent protection and estimated loss of exclusivity for our products and product candidates; Gilead’s ability to initiate, progress or complete clinical trials within currently anticipated timeframes or at all, the possibility of unfavorable results from ongoing and additional clinical trials, including those involving Trodelvy, Tecartus, Yescarta, domvanalimab, etrumadenant and zimberelimab, and the risk that safety and efficacy data from clinical trials may not warrant further development of Gilead’s product candidates or the product candidates of Gilead’s strategic partners; Gilead’s ability to submit new drug applications for new product candidates or expanded indications in the currently anticipated timelines; Gilead’s ability to receive regulatory approvals in a timely manner or at all, including EC approval of Trodelvy for the treatment of adult patients with pre-treated HR+/HER2 mBC, and the risk that any such approvals, if granted, may be subject to significant limitations on use; Gilead’s ability to successfully commercialize its products; the risk of potential disruptions to the manufacturing and supply chain of Gilead’s products, including the risk that Kite may be unable to increase its manufacturing capacity, timely manufacture and deliver its products or produce an amount of supply sufficient to satisfy demand for such products; pricing and reimbursement pressures from government agencies and other third parties, including required rebates and other discounts; a larger than anticipated shift in payer mix to more highly discounted payer segments; market share and price erosion caused by the introduction of generic versions of Gilead products; the risk that physicians and patients may not see advantages of these products over other therapies and may therefore be reluctant to prescribe the products, including Biktarvy, Sunlenca, Vemlidy and Yescarta; and other risks identified from time to time in Gilead’s reports filed with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, Gilead makes estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures. Gilead bases its estimates on historical experience and on various other market specific and other relevant assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. There may be other factors of which Gilead is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ significantly from these estimates. Further, results for the quarter ended December 31, 2022 are not necessarily indicative of operating results for any future periods. Gilead directs readers to its press releases, annual reports on Form 10-K, quarterly reports on Form 10-Q and other subsequent disclosure documents filed with the SEC. Gilead claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. + +The reader is cautioned that forward-looking statements are not guarantees of future performance and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead and Gilead assumes no obligation to update or supplement any such forward-looking statements other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statements. + +# # # + +Gilead owns or has rights to various trademarks, copyrights and trade names used in its business, including the following: GILEAD®, GILEAD SCIENCES®, KITE®, AMBISOME®, ATRIPLA®, BIKTARVY®, CAYSTON®, COMPLERA®, DESCOVY®, DESCOVY FOR PREP®, EMTRIVA®, EPCLUSA®, EVIPLERA®, GENVOYA®, HARVONI®, HEPCLUDEX®, HEPSERA®, JYSELECA®, LETAIRIS®, ODEFSEY®, RANEXA®, SOVALDI®, STRIBILD®, SUNLENCA® , TECARTUS®, TRODELVY®, TRUVADA®, TRUVADA FOR PREP®, TYBOST®, VEKLURY®, VEMLIDY®, VIREAD®, VOSEVI®, YESCARTA® and ZYDELIG®. This report may also refer to trademarks, service marks and trade names of other companies. + +For more information on Gilead Sciences, Inc., please visit www.gilead.com or call the Gilead Public Affairs Department at 1-800-GILEAD-5 (1-800-445-3235). + +GILEAD SCIENCES, INC. + +CONDENSED CONSOLIDATED STATEMENTS OF INCOME + +(unaudited) + +  + +  + +  + +  + +  + +  + +  + +Three Months Ended + +  + +Twelve Months Ended + +  + +  + +December 31, + +  + +December 31, + +(in millions, except per share amounts) + +  + +2022 + +  + +2021 + +  + +2022 + +  + +2021 + +Revenues: + +  + +  + +  + +  + +  + +  + +  + +  + +Product sales + +  + +$ + +7,333 + +  + +  + +$ + +7,160 + +  + +  + +$ + +26,982 + +  + +  + +$ + +27,008 + +  + +Royalty, contract and other revenues + +  + +  + +56 + +  + +  + +  + +84 + +  + +  + +  + +299 + +  + +  + +  + +297 + +  + +Total revenues + +  + +  + +7,389 + +  + +  + +  + +7,244 + +  + +  + +  + +27,281 + +  + +  + +  + +27,305 + +  + +Costs and expenses: + +  + +  + +  + +  + +  + +  + +  + +  + +Cost of goods sold + +  + +  + +1,396 + +  + +  + +  + +2,627 + +  + +  + +  + +5,657 + +  + +  + +  + +6,601 + +  + +Research and development expenses + +  + +  + +1,548 + +  + +  + +  + +1,358 + +  + +  + +  + +4,977 + +  + +  + +  + +4,601 + +  + +Acquired in-process research and development expenses + +  + +  + +158 + +  + +  + +  + +669 + +  + +  + +  + +944 + +  + +  + +  + +939 + +  + +In-process research and development impairment + +  + +  + +— + +  + +  + +  + +— + +  + +  + +  + +2,700 + +  + +  + +  + +— + +  + +Selling, general and administrative expenses + +  + +  + +2,020 + +  + +  + +  + +1,650 + +  + +  + +  + +5,673 + +  + +  + +  + +5,246 + +  + +Total costs and expenses + +  + +  + +5,122 + +  + +  + +  + +6,304 + +  + +  + +  + +19,951 + +  + +  + +  + +17,387 + +  + +Operating income + +  + +  + +2,267 + +  + +  + +  + +940 + +  + +  + +  + +7,330 + +  + +  + +  + +9,918 + +  + +Interest expense + +  + +  + +(227 + +) + +  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Financial Information section above for further disclosures on non-GAAP financial measures. A reconciliation between GAAP and non-GAAP financial information is provided in the tables on pages 12 - 13. Beginning in the first quarter of 2022, consistent with recent industry communications from the U.S. Securities and Exchange Commission, the Company no longer excludes the initial costs of acquired IPR&D projects from its non-GAAP financial measures. 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Adjustments to Selling, general and administrative expenses primarily include donations to the Gilead Foundation, a California nonprofit organization, during the second quarters of 2022 and 2021. + +(2) + +Adjustments include employee-related expenses, contingent consideration fair value adjustments and other expenses associated with Gilead’s acquisitions of MiroBio, Ltd., Immunomedics, Inc. and MYR GmbH. + +(3) + +Represents discrete and related deferred tax charges or benefits primarily associated with acquired intangible assets and transfers of intangible assets from a foreign subsidiary to Ireland and the United States. + +GILEAD SCIENCES, INC. + +RECONCILIATION OF GAAP TO NON-GAAP 2023 FULL YEAR GUIDANCE(1) + +(unaudited) + +(in millions, except percentages and per share amounts) + +  + +Provided +February 2, 2023 + +Projected product gross margin GAAP to non-GAAP reconciliation: + +  + +  + +GAAP projected product gross margin + +  + +79.0% + +Acquisition-related expenses + +  + +~ 7% + +Non-GAAP projected product gross margin + +  + +86.0% + +  + +  + +  + +Projected operating income GAAP to non-GAAP reconciliation: + +  + +  + +GAAP projected operating income + +  + +$9,200 - $9,800 + +Acquisition-related expenses + +  + +~ 1,800 + +Non-GAAP projected operating income + +  + +$11,000 - $11,600 + +  + +  + +  + +Projected effective tax rate GAAP to non-GAAP reconciliation: + +  + +  + +GAAP projected effective tax rate + +  + +~ 22% + +Discrete and related tax adjustments, and income tax effect of adjustments above + +  + +(~ 2%) + +Non-GAAP projected effective tax rate + +  + +~ 20% + +  + +  + +  + +Projected diluted EPS GAAP to non-GAAP reconciliation: + +  + +  + +GAAP projected diluted EPS + +  + +$5.30 - $5.70 + +Acquisition-related expenses and tax adjustments + +  + +~ 1.30 + +Non-GAAP projected diluted EPS + +  + +$6.60 - $7.00 + +________________________________ + +(1) + +The non-GAAP 2023 full-year guidance includes non-GAAP adjustments to actual current period results as well as adjustments for the known future impact associated with events that have already occurred, such as future amortization of our intangible assets and the future impact of discrete and related deferred tax charges or benefits primarily associated with acquired intangible assets and transfers of intangible assets from a foreign subsidiary to Ireland and the United States. Our full-year guidance excludes the potential impact of any (i) acquisitions or business development transactions that have not been executed, (ii) future fair value adjustments of equity securities and (iii) discrete tax charges or benefits associated with changes in tax related laws and guidelines that have not been enacted, as Gilead is unable to project such amounts. + +GILEAD SCIENCES, INC. + +CONDENSED CONSOLIDATED BALANCE SHEETS + +(unaudited) + +  + +  + +December 31, + +(in millions) + +  + +2022 + +  + +2021 + +Assets + +  + +  + +  + +  + +Cash, cash equivalents and marketable securities + +  + +$ + +7,630 + +  + +  + +$ + +7,829 + +  + +Accounts receivable, net + +  + +  + +4,777 + +  + +  + +  + +4,493 + +  + +Inventories + +  + +  + +2,820 + +  + +  + +  + +2,734 + +  + +Property, plant and equipment, net + +  + +  + +5,475 + +  + +  + +  + +5,121 + +  + +Intangible assets, net + +  + +  + +28,894 + +  + +  + +  + +33,455 + +  + +Goodwill + +  + +  + +8,314 + +  + +  + +  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+  + +  + +  + +  + +  + +  + +  + +Other(7) – U.S. + +  + +  + +44 + +  + +  + +  + +27 + +  + +  + +  + +135 + +  + +  + +  + +136 + +  + +Other(7) – Europe + +  + +  + +13 + +  + +  + +  + +47 + +  + +  + +  + +65 + +  + +  + +  + +115 + +  + +Other(7) – Other International + +  + +  + +18 + +  + +  + +  + +7 + +  + +  + +  + +53 + +  + +  + +  + +30 + +  + +  + +  + +  + +75 + +  + +  + +  + +81 + +  + +  + +  + +253 + +  + +  + +  + +281 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Total other – U.S. + +  + +  + +113 + +  + +  + +  + +83 + +  + +  + +  + +388 + +  + +  + +  + +381 + +  + +Total other – Europe + +  + +  + +79 + +  + +  + +  + +119 + +  + +  + +  + +323 + +  + +  + +  + +389 + +  + +Total other – Other International + +  + +  + +61 + +  + +  + +  + +48 + +  + +  + +  + +235 + +  + +  + +  + +257 + +  + +  + +  + +  + +252 + +  + +  + +  + +250 + +  + +  + +  + +946 + +  + +  + +  + +1,027 + +  + +  + +  + +  + +  + +  + +  + +  + +  + +  + +Total product sales – U.S. + +  + +  + +5,234 + +  + +  + +  + +5,244 + +  + +  + +  + +18,716 + +  + +  + +  + +19,176 + +  + +Total product sales – Europe + +  + +  + +1,061 + +  + +  + +  + +1,259 + +  + +  + +  + +4,342 + +  + +  + +  + +4,678 + +  + +Total product sales – Other International + +  + +  + +1,037 + +  + +  + +  + +657 + +  + +  + +  + +3,924 + +  + +  + +  + +3,154 + +  + +  + +  + +$ + +7,333 + +  + +  + +$ + +7,160 + +  + +  + +$ + +26,982 + +  + +  + +$ + +27,008 + +  + +_______________________________ + +(1) + +Represents Gilead’s revenue from cobicistat (“C”), FTC and TAF in Symtuza (darunavir/C/FTC/TAF), a fixed dose combination product commercialized by Janssen Sciences Ireland Unlimited Company. + +(2) + +Includes Atripla, Emtriva, Sunlenca and Tybost. + +(3) + +Amounts consist of sales of Harvoni and the authorized generic version of Harvoni sold by Gilead’s separate subsidiary, Asegua Therapeutics LLC. + +(4) + +Amounts consist of sales of Epclusa and the authorized generic version of Epclusa sold by Gilead’s separate subsidiary, Asegua Therapeutics LLC. + +(5) + +Includes Vosevi and Sovaldi. + +(6) + +Includes Hepcludex and Hepsera. + +(7) + +Includes Cayston, Jyseleca, Ranexa and Zydelig. + +  +View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005366/en/ \ No newline at end of file diff --git a/news/GILD/2023.02.02/Gilead profit beats Street expectations on COVID and HIV sales.txt b/news/GILD/2023.02.02/Gilead profit beats Street expectations on COVID and HIV sales.txt new file mode 100644 index 0000000000000000000000000000000000000000..d5045e62eefd5df15506952601f5892003810e63 --- /dev/null +++ b/news/GILD/2023.02.02/Gilead profit beats Street expectations on COVID and HIV sales.txt @@ -0,0 +1 @@ +The U.S. biotech company said adjusted profit rose to $1.67 per share, ahead of analyst expectations of $1.50, according to Refinitiv data, and up from 69 cents per share a year earlier, when it took $1.85 billion in charges mostly for a legal settlement. Quarterly revenue rose 2% to $7.4 billion, topping analysts' estimates of $6.64 billion.It forecast 2023 sales of $26 billion to $26.5 billion, ahead of analyst expectations of $25.8 billion, and adjusted earnings of $6.60 to $7 per share. The midpoint of the earnings forecast is also above analysts' estimates for $6.73 per share.Sales of COVID-19 treatment remdesivir, sold under the brand name Veklury, were $1 billion, far beyond the $511 million analysts had expected even as they slowed 26% from the previous year. While Veklury sales declined by about half in the United States and Europe as COVID hospitalization rates fell, they tripled in other international markets.Gilead's HIV sales increased 5% to $4.8 billion in the quarter, with Biktarvy rising 15% to $2.9 billion versus the $2.8 billion analysts expected.Descovy sales rose 13% to $537 million, outstripping the analysts' forecast of $495 million.Gilead's cancer franchise also saw sales increase by 71% to $419 million. Yescarta, a CAR-T lymphoma treatment, booked $337 million, while leukemia and lymphoma treatment Tecartus came in at $82 million. (Reporting by Sriparna Roy in Bengaluru, Caroline Humer and Michael Erman in New York; Editing by Bill Berkrot)By Michael Erman and Sriparna Roy \ No newline at end of file diff --git a/news/GILD/2023.02.02/Marketmind: Fed fillip, double trouble, triple A.txt b/news/GILD/2023.02.02/Marketmind: Fed fillip, double trouble, triple A.txt new file mode 100644 index 0000000000000000000000000000000000000000..7ca7e869c2c9a6abf56f37f55e97a627246d4908 --- /dev/null +++ b/news/GILD/2023.02.02/Marketmind: Fed fillip, double trouble, triple A.txt @@ -0,0 +1 @@ +It looks less like fighting the Fed, than a mild disagreement.As the Federal Reserve slowed the pace of its interest rate rates on Wednesday to a quarter point, but with a promise of more, Wall St surged - comforted by Chair Jerome Powell's reluctance to loudly protest market pricing for peak rates by June, and easing by year-end.Powell didn't endorse that market view - which now has just one more quarter point rise to a terminal rate under 4.9% by May and 40 basis points of cuts from there by December. But he seemed ambivalent about investors' more optimistic take on disinflation and indicated the central bank was increasingly keeping its options open about a 'couple of hikes'."We can now say for the first time that the disinflationary process has started," Powell told reporters, adding he was "not particularly concerned" about market pricing - when many have expected him to push back harder to stymie a premature easing of broader financial conditions.With the U.S. labour market a key ingredient in how the Fed sees the disinflation process playing out, a notable slowing in private sector hiring last month will encourage speculation for similar easing of the super-tight jobs market in Friday's release of the January national payrolls report.Aided by a quarterly refunding schedule and some tentative signs of compromise on the debt ceiling row, 10-year Treasury yields dropped more than 10bp to less than 3.40%. The dollar swooned, falling to its lowest since April last year. By the close, the S&P 500 and Nasdaq added 1% and 2% respectively and stock futures are extending that rally early on Thursday - helped by a near 20% rocketing of Meta's share price after the bell.Meta's stock boomed as its earnings update showed stricter cost controls and a new $40 billion share buyback.The wave of optimism comes as Big Tech trio Apple, Amazon and Alphabet report after the close on Thursday.The VIX index of U.S. stock volatility fell to its lowest level in more than a year.The dovish take on the Fed now gets a potentially more hawkish follow-up from the European Central Bank and Bank of England - both of whom are forecast to stick with half point interest rate rises later on Thursday.With the risk around the BoE's split monetary policy council for a smaller quarter point move, it was the euro that looks set to emerge the winner of the three big central bank events. The euro/dollar exchange rate hit its highest in nine-months.And in a reminder of how new year optimism doesn't necessarily lift all boats, the rout in India's giant Adani conglomerate deepened.Adani market losses swelled to more than $100 billion on Thursday - sparking worries about country-wide investment contagion a day after its flagship company abandoned a $2.5 billion stock offering. It's battling a short seller attack on the firm's bonds amid questions over the group's leverage and growing doubts about margin financing.Key developments that may provide direction to U.S. markets later on Thursday:* European Central Bank and Bank of England policy decisions* US Q4 Unit Labor Costs, productivity; weekly jobless claims * U.S. corp earnings: Apple, Amazon, Alphabet, Ford, Starbucks Clorox, Qualcomm, Gilead, Conocophillips, Bristol-Myers Squibb, Honeywell, Estee Lauder, CMS, Intercontinental Exchange, Merck, Hershey, WW Grainger, Illinois Tool Works, etc (By Mike Dolan, editing by Elaine Hardcastle mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/GILD/2023.02.03/A little reality check to end the week?.txt b/news/GILD/2023.02.03/A little reality check to end the week?.txt new file mode 100644 index 0000000000000000000000000000000000000000..cda8f07715e4db600905bd3f7e1e2cd2ba49cb3e --- /dev/null +++ b/news/GILD/2023.02.03/A little reality check to end the week?.txt @@ -0,0 +1,50 @@ + +It took everyone by surprise: Employers added 517,000 jobs in January, up from 260,000 in December. This is way higher than the 188,000 expected in a Bloomberg consensus. The unemployment rate is down to 3.4 percent, the lowest since 1969. +This data shows that the Fed's task isn't done and that efforts to cool the labor market to tame inflation have not been working as well as hoped. This comes on the heel of poor results from U.S. tech stocks. Will this be dampening investor optimism? As I write these lines, futures on the Nasdaq are down 2.2%. + +Until now, investors thought the direction of U.S. monetary policy had taken a sufficiently positive turn and that other concerns were secondary. The rotation to riskier bets became the dominant bet. Goodbye Healthcare, Oil, Defense and hello Real Estate, Technology and Consumer Discretionary. +Let's talk about complacency, without denying our pleasure to see a nice recovery across equity markets in the past few sessions. Complacency is what creates asset bubbles. It is a mixture FOMO, following the crowd and intellectual laziness. It comes back as soon as the appetite for risk grows and it is what contributes to create the imbalances that will cause the next bear markets. The speed at which markets have been returning to speculative territory lately is astounding. At the close yesterday, the Nasdaq 100 had rallied 22.6% from its October low, which means that it meets the technical definition of a "bull market," an event that while not rare is not that common. The technology index is up 17% since January 1, after jumping another 3.5% yesterday. In Europe, the same pattern can be seen with major indices up sharply: 2.1% for the DAX and 1.3% for the CAC40 for example. +The very principle of the recovery makes sense given the scenario that is taking shape, but its magnitude raises questions. In the minds of investors, the main hurdle facing the market recovery was the US central bank and its restrictive monetary policy. The underlying macroeconomic environment was a distant second. Let's talk about both. +The Fed on Wednesday gave the impression that it had missed its communication exercise. When it said gray, the market heard white. And when it said black, the market didn't listen at all. Investors are forgetting about the famous adage "Don't Fight the Fed," which means that betting against U.S. monetary policy is a doomed enterprise. They believe that the end of rate hikes is imminent - although the latest employment figures might give them food for thought - and they seem confident that rates will not remain high in the medium term. +It is on the second point, the macroeconomic context, that there should be more debate in the weeks to come. Overnight, Apple, Amazon and Alphabet all reported results below expectations. All three stocks have dropped. The turmoil in the quarterly performance of the tech stars - Meta being the exception - is a sign that the conveyor belt of the Fed's restrictive monetary policy has begun to take its toll on the economy, even on those parts deemed to be the most protected. This makes sense, but it will lead analysts, who are generally slow to revise their expectations, to correct their course this quarterly season. This is a point of vigilance, even if the driving force in the weeks to come clearly remains the dynamics of monetary policy. +In other news, the recovery of the Chinese economy was confirmed by the publication of a Caixin services PMI indicator back in the expansion zone, with stronger momentum than economists had expected. It is impossible to ignore the debacle of the Adani empire on the Bombay stock exchange, with the share price of the leading holding company Adani Enterprises collapsing by more than 25% today. This crisis is causing a stir even in the Indian parliament and casting a pall of suspicion over other leading companies in the country. The plunge was triggered by the publication on January 24 of a damning report by short-seller Hindenburg Research. +Let's end with a little heads-up: My colleague Greg Legrand will take over this column for the next two week, as I'm going on a well-deserved vacation… Do not worry, I'm leaving you in good hands! +  +Economic highlights of the day: +The second reading of the services PMI indices of the major economies in January and US employment figures for January are today's main indicators, as well as the ISM services index. All the agenda is here. Overnight, China's Caixin services PMI for January rose to 52.9 points, much higher than expected. +The dollar gained 0.6% against the euro to EUR 0.9233 and gained 0.9% against the pound to GBP 0.8259. The ounce of gold fell to USD 1884. Oil remains under pressure, with North Sea Brent at USD 82.18 a barrel and U.S. light crude WTI at USD 75.86. The yield on 10-year US debt is still falling at 3.37%. Bitcoin is back up around USD 23,500. +  +In corporate news: +* Apple on Thursday reported a lower-than-expected quarterly profit for the first time since 2016 due to weak iPhone sales and said it expects its revenue to decline for a second straight quarter. The group was losing nearly 4% in pre-market trading. +* Amazon warned Thursday that its operating profit was likely to continue to fall in the current quarter as massive layoffs were not enough to offset lower spending by consumers and customers of its cloud services. In pre-market trading, the global online retail giant was losing more than 4%. +* Alphabet was down 4.5% in premarket trading after reporting lower-than-expected quarterly revenue and profit on Thursday as Google's parent company's advertising business suffers from the economic slowdown. +* Ford lost 5.3% in premarket trading as the automaker reported a drop in quarterly profit on Thursday and forecast a tough year. +* Qualcomm lost 3.6% in pre-market trading after reporting lower-than-expected second-quarter revenue and profit on Thursday, as the chipmaker was hurt by weak demand for smartphones and a supply glut, a trend that is expected to continue in the first half of the year. +* Regeneron on Friday reported better-than-expected fourth-quarter profit as strong demand for its eczema treatment Dupixent helped offset lower sales of its blockbuster macular degeneration drug Eylea. +* Coffee chain Starbucks reported a quarterly sales decline in China four times larger than its own estimate and said it had no visibility on the timing of a full recovery in the country. The group was down 2.5% before the opening. +* Tesla sold 66,051 electric vehicles manufactured in China in January, up 18% from December, according to data released Friday by the China Passenger Car Association (CPCA). In addition, the group has cut prices on some of its models in South Korea, a local sales official for the U.S. automaker said Friday. The stock was up 1% before the opening. +* Gilead was up 3.5 percent in premarket trading after reporting higher-than-expected fourth-quarter profit on Thursday, helped by strong demand for its HIV and cancer drugs, while Veklury, its COVID-19 antiviral, saw sales double market expectations. +* Cigna Insurance Group on Friday reported quarterly earnings above Wall Street estimates, helped by a sharp drop in medical costs due to fewer COVID-19-related hospitalizations. +* Nordstrom - Activist investor Ryan Cohen is acquiring a significant stake in the department store chain and is looking to push the group to overhaul its board, according to sources familiar with the matter. The stock was up more than 30 percent in premarket trading. +* Silvergate - Federal prosecutors are investigating the cryptocurrency specialist and its relationship with cryptoasset exchange FTX and Sam Bankman-Fried's trading firm Alameda Research, according to a source familiar with the matter. The stock was listed down 12.5%. +* Carlyle is in talks to hire former Goldman Sachs bank executive Harvey Schwartz as its new chief executive, Semafor reported Thursday, citing sources familiar with the matter. +* Kohl's announced the appointment of Tom Kingsbury as chief executive, a position he already holds on an interim basis. +  +Analyst recommendations: + +Alphabet: Morgan Stanley upgrades to $135 from $125. Maintains overweight rating. +Apple: JP Morgan has maintained its recommendation on the stock with a Buy rating. The target price differs slightly and is now set at USD 175 versus USD 180. +Asos: Deutsche Bank downgrades from buy to hold targeting GBp 950. +Bakkavor: HSBC downgrades from hold to low, targeting GBp 100. +Boeing: RBC Capital Markets downgrades to sector perform from outperform. PT up 7.5% to $225. +Cardinal Health: Baird upgrades to outperform from neutral. PT up 23% to $94. +C.H. Robinson: Stifel downgrades to hold from buy. PT down 5.2% to $99. +Cognizant: Baird downgrades to neutral from outperform. PT down 3.8% to $68. +Direct Line: Barclays downgrades to underweight from equal-weight. PT down 7.7% to 173 pence. +Marks and Spencer: Deutsche Bank upgrades to buy from hold. PT up 30% to 210 pence. +Meta Platforms: DZ Bank upgrades to hold from sell. PT down 4.6% to $180. +Pets at Home: Deutsche Bank downgrades to hold from buy. PT down 4.7% to 355 pence. +SLM: Wells Fargo Securities downgrades to equal-weight from overweight. PT jumps 8.1% to $16. +Standard Chartered: Investec upgrades to buy from hold. PT up 11% to 740 pence. +Starbucks: Fubon Securities downgrades to neutral from buy. PT up 12% to $122. + diff --git a/news/GILD/2023.02.03/Ford, Starbucks fall; Clorox, Gilead Sciences rise.txt b/news/GILD/2023.02.03/Ford, Starbucks fall; Clorox, Gilead Sciences rise.txt new file mode 100644 index 0000000000000000000000000000000000000000..6432721a25e14a5f12fb351a80ae344d8a6a10a4 --- /dev/null +++ b/news/GILD/2023.02.03/Ford, Starbucks fall; Clorox, Gilead Sciences rise.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Friday:Ford Motor Co., down $1.09 to $13.12.The automaker reported disappointing fourth-quarter earnings and said its costs are too high.Amazon.com Inc., down $9.52 to $103.39.The online retail giant's fourth-quarter profit slumped and missed analysts' forecasts.Alphabet Inc., down $2.96 to $104.78.Google's parent company reported weak fourth-quarter financial results amid a decline in ad spending and increased competition.Starbucks Corp., down $4.85 to $104.30.The coffee chain's fiscal first-quarter profit and revenue fell short of Wall Street forecasts.Nordstrom Inc., up $5.24 to $26.38.Activist investor Ryan Cohen has reportedly built a big stake in the department store operator.Clorox Co., up $13.77 to $154.77.The maker of bleach and other household products reported strong fiscal second-quarter financial results.Boyd Gaming Corp., up $4.34 to $66.48.The casino operator's fourth-quarter earnings and revenue beat analysts' forecasts.Gilead Sciences Inc., up $3.11 to $84.50.The biopharmaceutical company's fourth-quarter profit and revenue beat Wall Street forecasts.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git "a/news/GILD/2023.02.03/U.S. FDA Approves Trodelvy\302\256 in Pre-treated HR+|HER2- Metastatic Breast Cancer.txt" "b/news/GILD/2023.02.03/U.S. FDA Approves Trodelvy\302\256 in Pre-treated HR+|HER2- Metastatic Breast Cancer.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c3625baa50738cd4c7f16c0f9db5ef57301f09d8 --- /dev/null +++ "b/news/GILD/2023.02.03/U.S. FDA Approves Trodelvy\302\256 in Pre-treated HR+|HER2- Metastatic Breast Cancer.txt" @@ -0,0 +1,101 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) today announced the U.S. Food and Drug Administration (FDA) has approved Trodelvy® (sacituzumab govitecan-hziy) for the treatment of adult patients with unresectable locally advanced or metastatic hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative (IHC 0, IHC 1+ or IHC 2+/ISH–) breast cancer who have received endocrine-based therapy and at least two additional systemic therapies in the metastatic setting. The approval is based on statistically significant and clinically meaningful progression-free survival and overall survival data from the Phase 3 TROPiCS-02 study. Trodelvy is now also recommended as a Category 1, preferred treatment for metastatic HR+/HER2- breast cancer by the National Comprehensive Cancer Network® (NCCN®) as defined in the Clinical Practice Guidelines in Oncology (NCCN Guidelines®)i. +This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230131006182/en/(Graphic: Business Wire) +“Despite decades of advances, people living with pre-treated HR+/HER2- metastatic breast cancer need new treatment options. Nearly all people with this type of breast cancer will eventually develop resistance to endocrine-based therapies and progress on available chemotherapies,” said Hope S. Rugo, MD, Professor of Medicine and Director, Breast Oncology and Clinical Trials Education at the UCSF Helen Diller Family Comprehensive Cancer Center, U.S. and principal investigator of the TROPiCS-02 study. “This approval is significant for the breast cancer community. We have had limited options to offer patients after endocrine-based therapy and chemotherapy, and to see a clinically meaningful survival benefit of more than three months with a quality of life benefit for these women is exceptional.” + +In the TROPiCS-02 study, Trodelvy demonstrated a statistically significant and clinically meaningful overall survival (OS) benefit of 3.2 months versus comparator single-agent chemotherapy (treatment of physician’s choice; TPC) (median OS: 14.4 months vs. 11.2 months; hazard ratio [HR]=0.79; 95% CI: 0.65-0.96; p=0.02). Trodelvy also demonstrated a 34% reduction in risk of disease progression or death (median PFS: 5.5 versus 4.0 months; HR: 0.66; 95% CI: 0.53-0.83; p=0.0003). Three times as many people treated with Trodelvy were progression free at one year versus those treated with chemotherapy (21% versus 7%). In a post-hoc analysis, data demonstrated Trodelvy’s efficacy across HER2-low and IHC0 status in pre-treated metastatic breast cancer patients in the TROPiCS-02 trial. + +Trodelvy also significantly improved additional secondary endpoint measures, including objective response rate and time to deterioration (TTD) assessed by the Global Health Status/Quality of Life and Fatigue scale per EORTC-QLQ-C30. No statistically significant difference in TTD in Pain Scale was observed. + +“The FDA approval is an important step forward for both women and men living with metastatic breast cancer, especially for those individuals whose tumor is no longer responding to endocrine-based therapies and who are facing a poor prognosis,” said Laura Carfang, Executive Director, SurvivingBreastCancer.org. “We need to combat this terrible disease, and all options that potentially slow its progress and extend life for those living with metastatic breast cancer are welcomed.” + +“We are pleased that Trodelvy could now provide new hope for people living with pre-treated HR+/HER2- metastatic breast cancer, building on the transformative role that Trodelvy is already playing for people with metastatic triple-negative breast cancer,” said Daniel O'Day, Chairman and Chief Executive Officer, Gilead Sciences. “We thank the physicians, patients and their families who put their trust in the TROPiCS-02 study and helped make this milestone possible.” + +The safety profile for Trodelvy was consistent with prior studies, with no new safety signals identified in this patient population. In TROPiCS-02 the most frequent serious adverse reactions (>1%) were diarrhea (5%), febrile neutropenia (4%), neutropenia (3%), abdominal pain, colitis, neutropenic colitis, pneumonia, and vomiting (each 2%). The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the TROPiCS-02 study were reduced neutrophils and leukocytes. No patients treated with Trodelvy experienced interstitial lung disease. + +This review by the FDA was conducted under Project Orbis and granted Priority Review. + +The European Medicines Agency has also validated a Type II Variation Marketing Authorization Application for Trodelvy in HR+/HER2- metastatic breast cancer. + +Trodelvy has a Boxed Warning for severe or life-threatening neutropenia and severe diarrhea; please see below for additional Important Safety Information. + +About HR+/HER2- Metastatic Breast Cancer + +Hormone receptor-positive/human epidermal growth factor receptor 2-negative (HR+/HER2-) breast cancer is the most common type of breast cancer and accounts for approximately 70% of all new cases. Almost one in three cases of early-stage breast cancer eventually become metastatic, and among patients with HR+/HER2- metastatic disease, the five-year relative survival rate is 30%. As patients with HR+/HER2- metastatic breast cancer become resistant to endocrine-based therapy, their primary treatment option is limited to single-agent chemotherapy. In this setting, it is common to receive multiple lines of chemotherapy regimens over the course of treatment, and the prognosis remains poor. + +About the TROPiCS-02 Study + +The TROPiCS-02 study is a global, multicenter, open-label, Phase 3 study, randomized 1:1 to evaluate Trodelvy versus physicians’ choice of chemotherapy (eribulin, capecitabine, gemcitabine, or vinorelbine) in 543 patients with HR+/HER2- metastatic breast cancer who were previously treated with endocrine therapy, CDK4/6 inhibitor and two to four lines of chemotherapy for metastatic disease. The primary endpoint is progression-free survival per Response Evaluation Criteria in Solid Tumors (RECIST 1.1) as assessed by blinded independent central review (BICR) for participants treated with Trodelvy compared to those treated with chemotherapy. Secondary endpoints include overall survival, overall response rate, clinical benefit rate and duration of response, as well as assessment of safety and tolerability and quality of life measures. In the study, HER2 negativity was defined per American Society of Clinical Oncology (ASCO) and the College of American Pathologists (CAP) criteria as immunohistochemistry (IHC) score of 0, IHC 1+ or IHC 2+ with a negative in-situ hybridization (ISH) test. More information about TROPiCS-02 is available at https://clinicaltrials.gov/ct2/show/NCT03901339. + +About Trodelvy + +Trodelvy® (sacituzumab govitecan-hziy) is a first-in-class Trop-2 directed antibody-drug conjugate. Trop-2 is a cell surface antigen highly expressed in multiple tumor types, including in more than 90% of breast and bladder cancers. Trodelvy is intentionally designed with a proprietary hydrolyzable linker attached to SN-38, a topoisomerase I inhibitor payload. This unique combination delivers potent activity to both Trop-2 expressing cells and the microenvironment. + +Trodelvy is approved in more than 40 countries, with multiple additional regulatory reviews underway worldwide, for the treatment of adult patients with unresectable locally advanced or metastatic triple-negative breast cancer (TNBC) who have received two or more prior systemic therapies, at least one of them for metastatic disease. + +Trodelvy is also approved in the U.S. to treat certain patients with pre-treated HR+/HER2- metastatic breast cancer and has an accelerated approval for treatment of certain patients with second-line metastatic urothelial cancer; see below for full indication statements. + +Trodelvy is also being developed for potential investigational use in other TNBC, HR+/HER2- and metastatic UC populations, as well as a range of tumor types where Trop-2 is highly expressed, including metastatic non-small cell lung cancer (NSCLC), metastatic small cell lung cancer (SCLC), head and neck cancer, and endometrial cancer. + +U.S. Indications for Trodelvy + +In the United States, Trodelvy is indicated for the treatment of adult patients with: + +U.S. Important Safety Information for Trodelvy + +BOXED WARNING: NEUTROPENIA AND DIARRHEA + +CONTRAINDICATIONS + +WARNINGS AND PRECAUTIONS + +Neutropenia: Severe, life-threatening, or fatal neutropenia can occur and may require dose modification. Neutropenia occurred in 64% of patients treated with Trodelvy. Grade 3-4 neutropenia occurred in 49% of patients. Febrile neutropenia occurred in 6%. Neutropenic colitis occurred in 1.4%. Withhold Trodelvy for absolute neutrophil count below 1500/mm3 on Day 1 of any cycle or neutrophil count below 1000/mm3 on Day 8 of any cycle. Withhold Trodelvy for neutropenic fever. Administer G-CSF as clinically indicated or indicated in Table 1 of USPI. + +Diarrhea: Diarrhea occurred in 64% of all patients treated with Trodelvy. Grade 3-4 diarrhea occurred in 11% of patients. One patient had intestinal perforation following diarrhea. Diarrhea that led to dehydration and subsequent acute kidney injury occurred in 0.7% of all patients. Withhold Trodelvy for Grade 3-4 diarrhea and resume when resolved to ≤Grade 1. At onset, evaluate for infectious causes and if negative, promptly initiate loperamide, 4 mg initially followed by 2 mg with every episode of diarrhea for a maximum of 16 mg daily. Discontinue loperamide 12 hours after diarrhea resolves. Additional supportive measures (e.g., fluid and electrolyte substitution) may also be employed as clinically indicated. Patients who exhibit an excessive cholinergic response to treatment can receive appropriate premedication (e.g., atropine) for subsequent treatments. + +Hypersensitivity and Infusion-Related Reactions: Serious hypersensitivity reactions including life-threatening anaphylactic reactions have occurred with Trodelvy. Severe signs and symptoms included cardiac arrest, hypotension, wheezing, angioedema, swelling, pneumonitis, and skin reactions. Hypersensitivity reactions within 24 hours of dosing occurred in 35% of patients. Grade 3-4 hypersensitivity occurred in 2% of patients. The incidence of hypersensitivity reactions leading to permanent discontinuation of Trodelvy was 0.2%. The incidence of anaphylactic reactions was 0.2%. Pre-infusion medication is recommended. Have medications and emergency equipment to treat such reactions available for immediate use. Observe patients closely for hypersensitivity and infusion-related reactions during each infusion and for at least 30 minutes after completion of each infusion. Permanently discontinue Trodelvy for Grade 4 infusion-related reactions. + +Nausea and Vomiting: Nausea occurred in 64% of all patients treated with Trodelvy and Grade 3-4 nausea occurred in 3% of these patients. Vomiting occurred in 35% of patients and Grade 3-4 vomiting occurred in 2% of these patients. Premedicate with a two or three drug combination regimen (e.g., dexamethasone with either a 5-HT3 receptor antagonist or an NK1 receptor antagonist as well as other drugs as indicated) for prevention of chemotherapy-induced nausea and vomiting (CINV). Withhold Trodelvy doses for Grade 3 nausea or Grade 3-4 vomiting and resume with additional supportive measures when resolved to Grade ≤1. Additional antiemetics and other supportive measures may also be employed as clinically indicated. All patients should be given take-home medications with clear instructions for prevention and treatment of nausea and vomiting. + +Increased Risk of Adverse Reactions in Patients with Reduced UGT1A1 Activity: Patients homozygous for the uridine diphosphate-glucuronosyl transferase 1A1 (UGT1A1)*28 allele are at increased risk for neutropenia, febrile neutropenia, and anemia and may be at increased risk for other adverse reactions with Trodelvy. The incidence of Grade 3-4 neutropenia was 58% in patients homozygous for the UGT1A1*28, 49% in patients heterozygous for the UGT1A1*28 allele, and 43% in patients homozygous for the wild-type allele. The incidence of Grade 3-4 anemia was 21% in patients homozygous for the UGT1A1*28 allele, 10% in patients heterozygous for the UGT1A1*28 allele, and 9% in patients homozygous for the wild-type allele. Closely monitor patients with known reduced UGT1A1 activity for adverse reactions. Withhold or permanently discontinue Trodelvy based on clinical assessment of the onset, duration and severity of the observed adverse reactions in patients with evidence of acute early-onset or unusually severe adverse reactions, which may indicate reduced UGT1A1 function. + +Embryo-Fetal Toxicity: Based on its mechanism of action, Trodelvy can cause teratogenicity and/or embryo-fetal lethality when administered to a pregnant woman. Trodelvy contains a genotoxic component, SN-38, and targets rapidly dividing cells. Advise pregnant women and females of reproductive potential of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during treatment with Trodelvy and for 6 months after the last dose. Advise male patients with female partners of reproductive potential to use effective contraception during treatment with Trodelvy and for 3 months after the last dose. + +ADVERSE REACTIONS + +In the pooled safety population, the most common (≥ 25%) adverse reactions including laboratory abnormalities were decreased leukocyte count (84%), decreased neutrophil count (75%), decreased hemoglobin (69%), diarrhea (64%), nausea (64%), decreased lymphocyte count (63%), fatigue (51%), alopecia (45%), constipation (37%), increased glucose (37%), decreased albumin (35%), vomiting (35%), decreased appetite (30%), decreased creatinine clearance (28%), increased alkaline phosphatase (28%), decreased magnesium (27%), decreased potassium (26%), and decreased sodium (26%). + +In the ASCENT study (locally advanced or metastatic triple-negative breast cancer), the most common adverse reactions (incidence ≥25%) were fatigue, diarrhea, nausea, alopecia, constipation, vomiting, abdominal pain, and decreased appetite. The most frequent serious adverse reactions (SAR) (>1%) were neutropenia (7%), diarrhea (4%), and pneumonia (3%). SAR were reported in 27% of patients, and 5% discontinued therapy due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the ASCENT study were reduced neutrophils, leukocytes, and lymphocytes. + +In the TROPiCS-02 study (locally advanced or metastatic HR-positive, HER2-negative breast cancer), the most common adverse reactions (incidence ≥25%) were diarrhea, fatigue, nausea, alopecia, and constipation. The most frequent serious adverse reactions (SAR) (>1%) were diarrhea (5%), febrile neutropenia (4%), neutropenia (3%), abdominal pain, colitis, neutropenic colitis, pneumonia, and vomiting (each 2%). SAR were reported in 28% of patients, and 6% discontinued therapy due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the TROPiCS-02 study were reduced neutrophils and leukocytes. + +In the TROPHY study (locally advanced or metastatic urothelial cancer), the most common adverse reactions (incidence ≥25%) were diarrhea, fatigue, nausea, any infection, alopecia, decreased appetite, constipation, vomiting, rash, and abdominal pain. The most frequent serious adverse reactions (SAR) (≥5%) were infection (18%), neutropenia (12%, including febrile neutropenia in 10%), acute kidney injury (6%), urinary tract infection (6%), and sepsis or bacteremia (5%). SAR were reported in 44% of patients, and 10% discontinued due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the TROPHY study were reduced neutrophils, leukocytes, and lymphocytes. + +DRUG INTERACTIONS + +UGT1A1 Inhibitors: Concomitant administration of Trodelvy with inhibitors of UGT1A1 may increase the incidence of adverse reactions due to potential increase in systemic exposure to SN-38. Avoid administering UGT1A1 inhibitors with Trodelvy. + +UGT1A1 Inducers: Exposure to SN-38 may be reduced in patients concomitantly receiving UGT1A1 enzyme inducers. Avoid administering UGT1A1 inducers with Trodelvy. + +Please see full Prescribing Information, including BOXED WARNING. + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. + +Forward-Looking Statements + +This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead’s ability to initiate, progress or complete clinical trials within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional clinical trials, including those involving Trodelvy; uncertainties relating to regulatory applications for Trodelvy and related filing and approval timelines, including the risk that the European Commission may not approve the pending marketing authorization application for Trodelvy in HR+/HER2- metastatic breast cancer, and pending or potential applications for the treatment of metastatic TNBC, mUC, HR+/HER2- breast cancer, NSCLC, SCLC, head and neck cancer, endometrial cancer and other cancers, in the currently anticipated timelines or at all; Gilead’s ability to receive regulatory approvals for such indications in a timely manner or at all, and the risk that any such approvals may be subject to significant limitations on use; the possibility that Gilead may make a strategic decision to discontinue development of Trodelvy for such indications and as a result, Trodelvy may never be commercialized for these indications; the risk that physicians may not see the benefits of prescribing Trodelvy for treatment of HR+/HER2- metastatic breast cancer; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements. + +U.S. Prescribing Information for Trodelvy including BOXED WARNING, is available at www.gilead.com. + +Trodelvy, Gilead and the Gilead logo are trademarks of Gilead Sciences, Inc., or its related companies. + +For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. + +UC Disclaimer + +The information stated above was prepared by Gilead Sciences, Inc., and reflects solely the opinion of the corporation. Nothing in this statement shall be construed to imply any support or endorsement of Gilead, or any of its products, by The Regents of the University of California, its officers, agents and employees. + +i Referenced with permission from the NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines) for Breast Cancer Version 1.2023. © National Comprehensive Cancer Network, Inc. 2023. All rights reserved. Accessed January 2023. To view the most recent and complete version of the guideline, go online to NCCN.org. NCCN makes no warranties of any kind whatsoever regarding their content, use or application and disclaims any responsibility for their application or use in any way. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230131006182/en/ \ No newline at end of file diff --git a/news/GILD/2023.02.06/Drug companies face COVID cliff in 2023 as sales set to plummet.txt b/news/GILD/2023.02.06/Drug companies face COVID cliff in 2023 as sales set to plummet.txt new file mode 100644 index 0000000000000000000000000000000000000000..826271a00e5b14e9979d969cbe6dca1937e9f6e2 --- /dev/null +++ b/news/GILD/2023.02.06/Drug companies face COVID cliff in 2023 as sales set to plummet.txt @@ -0,0 +1 @@ +Western drugmakers including Pfizer Inc, BioNTech SE, Moderna Inc, Gilead Sciences Inc, AstraZeneca Plc and Merck & Co are estimated to have brought in about $100 billion in revenue from COVID vaccines and treatments in 2022.Company and analyst estimates suggest those sales could fall by nearly two-thirds this year due to built up product inventories around the world including in the countries that pay the most. Population immunity from high rates of vaccination and previous infections means that demand for treatments could dip as well. GRAPHIC: Pharmaceutical companies made billions from the pandemic, https://www.reuters.com/graphics/HEALTH-CORONAVIRUS/REVENUES/jnpwyxjgzpw/chart.pngThese companies are used to steep revenue drops known as patent cliffs that occur when their exclusivities on big-selling drugs expire and generic rivals move in, but they strategize for those swings for years. "When you think about traditional drug and vaccine development and longevity of sales, it's usually much more spread out," Morningstar analyst Damien Conover said. "This is very, very concentrated." The sudden inflow of revenue should prod companies to strike deals and link up with new partners, he said. BMO Capital Markets analyst Evan Seigerman said companies should use the quick cash for transformative deals. "Pfizer did these $10 billion deals to build their portfolio and I think they need to do something bigger and more impactful," he said, referring to the $5.4 billion buyout of Global Blood Therapeutics and $11.6 billion purchase of migraine drugmaker Biohaven Pharmaceutical. Pfizer has been the biggest corporate beneficiary of the pandemic financially, with more than $56 billion in 2022 revenue from the vaccine it developed with German partner BioNTech and from its COVID-19 antiviral treatment Paxlovid.Pfizer has said it expects that revenue to drop to around $21.5 billion in 2023, although some analysts believe that forecast is overly optimistic. "We remain skeptical that COVID revenues will grow in 2024 and beyond," JP Morgan analyst Chris Schott said in a research note, adding that vaccination rates could fall even further than the significant decline seen with booster shots in 2022. Vaccine maker Moderna also expects 2023 revenue to fall sharply. The company's only product - its messenger RNA COVID vaccine - pulled in around $18.4 billion in 2022. Analysts expect that to drop to around $7 billion in 2023. The company is due to report earnings later this month. Oppenheimer & Co analyst Hartaj Singh said investors are "frustrated Moderna hasn't used their firepower more effectively to prepare for revenues and earnings going down in 2023 or 2024."Moderna shares are up in recent months, but a $173.25 closing price on Friday is more than 65% off their pandemic high of close to $500 in August 2021. "There are examples of companies that have sat on their hands and the share price has not done well, and Moderna could go down that path," Singh cautioned. MERCK, LILLY PLAN FOR DECLINE Other companies have seen a more modest impact from their COVID businesses. "We are not counting on Lagevrio as a driver of growth for our business," Merck Chief Executive Rob Davis said in an interview last week of the company's antiviral pill. "We very much saw Lagevrio as an opportunity to make a meaningful difference at a time of need."Merck reported sales of $5.7 billion from the treatment last year. Analysts expect that to drop below $1 billion this year. Merck had over $59 billion in total sales in 2022.Eli Lilly and Co made $2 billion in 2022 from monoclonal antibody COVID treatments and is not expecting any revenue from the business in 2023. The U.S. Food and Drug Administration pulled its authorization of Lilly's latest antibody bebtelovimab in November because it was not effective against circulating Omicron subvariants. "We did fine with COVID," Eli Lilly CEO Dave Ricks said in an interview. "We made a little bit of money with it. What we did with that was we mostly reinvested it in R&D (Research and Development), and last year was a record R&D spending year for the company." (Additional reporting by Khushi Mandowara in Bengaluru; Editing by Caroline Humer and Bill Berkrot)By Michael Erman and Patrick Wingrove \ No newline at end of file diff --git a/news/GILD/2023.02.06/Drug companies face huge drop in sales in 2023.txt b/news/GILD/2023.02.06/Drug companies face huge drop in sales in 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..8d4b27fac11093b69a41b3673271f1465eab6d1f --- /dev/null +++ b/news/GILD/2023.02.06/Drug companies face huge drop in sales in 2023.txt @@ -0,0 +1 @@ +and Moderna are facing a "COVID cliff"Those firms, along with others like Gilead Sciences, AstraZeneca, and Merckare estimated to have earned $100 billion over the last two years from COVID vaccines and treatmentsAnalysts expect those sales could fall by nearly two-thirds this year Pfizer brought in $56 billion in revenue in 2022 fromits vaccine with BioNTech and antiviral drug PaxlovidThe company expects that to drop to $21.5 billion in 2023Moderna pulled in around $18.4 billion in2022 from its messenger RNA COVID vaccineIt expects revenue to drop to around $7 billion in 2023Other companies like Merck and Eli Lilly have seen a more modest impact from their COVID businessesQuote from David Ricks, Eli Lilly CEO:"We did fine with COVID. We made a little bit of money with it. What we did with that was we mostly reinvested it in R&D (Research and Development), and last year was a record R&D spending year for the company." \ No newline at end of file diff --git a/news/GILD/2023.02.06/U.S. FDA Approves Trodelvy in Pre-treated HR+|HER2- Metastatic Breast Cancer.txt b/news/GILD/2023.02.06/U.S. FDA Approves Trodelvy in Pre-treated HR+|HER2- Metastatic Breast Cancer.txt new file mode 100644 index 0000000000000000000000000000000000000000..4f05e8992bb6c821518bb91da46d8b4d0b8671a6 --- /dev/null +++ b/news/GILD/2023.02.06/U.S. FDA Approves Trodelvy in Pre-treated HR+|HER2- Metastatic Breast Cancer.txt @@ -0,0 +1 @@ +Gilead Sciences, Inc. (Nasdaq: GILD) today announced the U.S. Food and Drug Administration (FDA) has approved Trodelvy (sacituzumab govitecan-hziy) for the treatment of adult patients with unresectable locally advanced or metastatic hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative (IHC 0, IHC 1+ or IHC 2+/ISH-) breast cancer who have received endocrine-based therapy and at least two additional systemic therapies in the metastatic setting.The approval is based on statistically significant and clinically meaningful progression-free survival and overall survival data from the Phase 3 TROPiCS-02 study. Trodelvy is now also recommended as a Category 1, preferred treatment for metastatic HR+/HER2- breast cancer by the National Comprehensive Cancer Network (NCCN) as defined in the Clinical Practice Guidelines in Oncology (NCCN Guidelines)i.Despite decades of advances, people living with pre-treated HR+/HER2- metastatic breast cancer need new treatment options. Nearly all people with this type of breast cancer will eventually develop resistance to endocrine-based therapies and progress on available chemotherapies,' said Hope S. Rugo, MD, Professor of Medicine and Director, Breast Oncology and Clinical Trials Education at the UCSF Helen Diller Family Comprehensive Cancer Center, U.S. and principal investigator of the TROPiCS-02 study. 'This approval is significant for the breast cancer community. We have had limited options to offer patients after endocrine-based therapy and chemotherapy, and to see a clinically meaningful survival benefit of more than three months with a quality of life benefit for these women is exceptional.'In the TROPiCS-02 study, Trodelvy demonstrated a statistically significant and clinically meaningful overall survival (OS) benefit of 3.2 months versus comparator single-agent chemotherapy (treatment of physician's choice; TPC) (median OS: 14.4 months vs. 11.2 months; hazard ratio [HR]=0.79; 95% CI: 0.65-0.96; p=0.02). Trodelvy also demonstrated a 34% reduction in risk of disease progression or death (median PFS: 5.5 versus 4.0 months; HR: 0.66; 95% CI: 0.53-0.83; p=0.0003). Three times as many people treated with Trodelvy were progression free at one year versus those treated with chemotherapy (21% versus 7%). In a post-hoc analysis, data demonstrated Trodelvy's efficacy across HER2-low and IHC0 status in pre-treated metastatic breast cancer patients in the TROPiCS-02 trial.Trodelvy also significantly improved additional secondary endpoint measures, including objective response rate and time to deterioration (TTD) assessed by the Global Health Status/Quality of Life and Fatigue scale per EORTC-QLQ-C30. No statistically significant difference in TTD in Pain Scale was observed.The FDA approval is an important step forward for both women and men living with metastatic breast cancer, especially for those individuals whose tumor is no longer responding to endocrine-based therapies and who are facing a poor prognosis,' said Laura Carfang, Executive Director, SurvivingBreastCancer.org. 'We need to combat this terrible disease, and all options that potentially slow its progress and extend life for those living with metastatic breast cancer are welcomed.'We are pleased that Trodelvy could now provide new hope for people living with pre-treated HR+/HER2- metastatic breast cancer, building on the transformative role that Trodelvy is already playing for people with metastatic triple-negative breast cancer,' said Daniel O'Day, Chairman and Chief Executive Officer, Gilead Sciences. 'We thank the physicians, patients and their families who put their trust in the TROPiCS-02 study and helped make this milestone possible.'The safety profile for Trodelvy was consistent with prior studies, with no new safety signals identified in this patient population. In TROPiCS-02 the most frequent serious adverse reactions (>1%) were diarrhea (5%), febrile neutropenia (4%), neutropenia (3%), abdominal pain, colitis, neutropenic colitis, pneumonia, and vomiting (each 2%). The most common Grade 3-4 lab abnormalities (incidence 25%) in the TROPiCS-02 study were reduced neutrophils and leukocytes. No patients treated with Trodelvy experienced interstitial lung disease.This review by the FDA was conducted under Project Orbis and granted Priority Review.The European Medicines Agency has also validated a Type II Variation Marketing Authorization Application for Trodelvy in HR+/HER2- metastatic breast cancer.About HR+/HER2- Metastatic Breast CancerHormone receptor-positive/human epidermal growth factor receptor 2-negative (HR+/HER2-) breast cancer is the most common type of breast cancer and accounts for approximately 70% of all new cases. Almost one in three cases of early-stage breast cancer eventually become metastatic, and among patients with HR+/HER2- metastatic disease, the five-year relative survival rate is 30%. As patients with HR+/HER2- metastatic breast cancer become resistant to endocrine-based therapy, their primary treatment option is limited to single-agent chemotherapy. In this setting, it is common to receive multiple lines of chemotherapy regimens over the course of treatment, and the prognosis remains poor.About the TROPiCS-02 StudyThe TROPiCS-02 study is a global, multicenter, open-label, Phase 3 study, randomized 1:1 to evaluate Trodelvy versus physicians' choice of chemotherapy (eribulin, capecitabine, gemcitabine, or vinorelbine) in 543 patients with HR+/HER2- metastatic breast cancer who were previously treated with endocrine therapy, CDK4/6 inhibitor and two to four lines of chemotherapy for metastatic disease. The primary endpoint is progression-free survival per Response Evaluation Criteria in Solid Tumors (RECIST 1.1) as assessed by blinded independent central review (BICR) for participants treated with Trodelvy compared to those treated with chemotherapy. Secondary endpoints include overall survival, overall response rate, clinical benefit rate and duration of response, as well as assessment of safety and tolerability and quality of life measures. In the study, HER2 negativity was defined per American Society of Clinical Oncology (ASCO) and the College of American Pathologists (CAP) criteria as immunohistochemistry (IHC) score of 0, IHC 1+ or IHC 2+ with a negative in-situ hybridization (ISH) test. More information about TROPiCS-02 is available at https://clinicaltrials.gov/ct2/show/NCT03901339.About TrodelvyTrodelvy (sacituzumab govitecan-hziy) is a first-in-class Trop-2 directed antibody-drug conjugate. Trop-2 is a cell surface antigen highly expressed in multiple tumor types, including in more than 90% of breast and bladder cancers. Trodelvy is intentionally designed with a proprietary hydrolyzable linker attached to SN-38, a topoisomerase I inhibitor payload. This unique combination delivers potent activity to both Trop-2 expressing cells and the microenvironment.Trodelvy is approved in more than 40 countries, with multiple additional regulatory reviews underway worldwide, for the treatment of adult patients with unresectable locally advanced or metastatic triple-negative breast cancer (TNBC) who have received two or more prior systemic therapies, at least one of them for metastatic disease.Trodelvy is also being developed for potential investigational use in other TNBC, HR+/HER2- and metastatic UC populations, as well as a range of tumor types where Trop-2 is highly expressed, including metastatic non-small cell lung cancer (NSCLC), metastatic small cell lung cancer (SCLC), head and neck cancer, and endometrial cancer.About Gilead SciencesGilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California.Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead's ability to initiate, progress or complete clinical trials within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional clinical trials, including those involving Trodelvy; uncertainties relating to regulatory applications for Trodelvy and related filing and approval timelines, including the risk that the European Commission may not approve the pending marketing authorization application for Trodelvy in HR+/HER2- metastatic breast cancer, and pending or potential applications for the treatment of metastatic TNBC, mUC, HR+/HER2- breast cancer, NSCLC, SCLC, head and neck cancer, endometrial cancer and other cancers, in the currently anticipated timelines or at all; Gilead's ability to receive regulatory approvals for such indications in a timely manner or at all, and the risk that any such approvals may be subject to significant limitations on use; the possibility that Gilead may make a strategic decision to discontinue development of Trodelvy for such indications and as a result, Trodelvy may never be commercialized for these indications; the risk that physicians may not see the benefits of prescribing Trodelvy for treatment of HR+/HER2- metastatic breast cancer and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements.Contact:Email: public_affairs@gilead.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/GILD/2023.02.08/Mexicans denounce US firm over high prices of vital medications.txt b/news/GILD/2023.02.08/Mexicans denounce US firm over high prices of vital medications.txt new file mode 100644 index 0000000000000000000000000000000000000000..9f71e662977f9fc898abe1c5a513ea5c6e5e9ff9 --- /dev/null +++ b/news/GILD/2023.02.08/Mexicans denounce US firm over high prices of vital medications.txt @@ -0,0 +1 @@ +Mexico City, Feb 8 (EFE).- Activists gathered here Wednesday to condemn US drugmaker Gilead Sciences, Inc. for pricing Hepatitis C, AIDS and Covid-19 medications beyond the reach of patients in Mexico and around the world."We think that the prices it sets in the market, and which are characterized by excessive greed and excessive profit, are denying life to the neediest people, the populations most vulnerable to illnesses such as HIV," Jose Antonio Matus, advocacy coordinator in Mexico for the Los Angeles-based AIDS Healthcare Foundation (AHF), told EFE.Gilead, he said, uses its control of patents "to obstruct the availability of these medications in medium- and low-income countries."Matus pointed to the prices of Covid-19 drug Remdesivir, 49,000 pesos ($2,587),and the HIV/AIDS treatment Biktarvy, which costs 1,700 pesos ($89).Median household income in Mexico was $13,989 in 2021, compared with $70,784 in the US.The head of Programs at AHF Mexico, Guillermo Bustamante, said that the high prices have the effect of reducing demand, which in turn limits the supply of drugs.Developing countries generally have a fixed budget for buying medicine "and the Mexican government has to buy few medications because they are unaffordable," he told EFE.Bustamante said Gilead has an obligation to justify the exorbitant prices it demands for life-saving and life-sustaining drugs.AHF accepts the right of Gilead and other pharmaceutical companies to make profits, Matus said."We know that it takes time to develop a molecule for a medication, but Gilead doesn't want to drop their prices," he said. "The profit is excessive and occasionally reaches incredible proportions of up to 200 percent." EFE csr/dr© 2023 EFE News Services (U.S.) Inc., source EFE Ingles \ No newline at end of file diff --git "a/news/GILD/2023.02.09/Kite's Tecartus\302\256 CAR T-Cell Therapy Demonstrates Overall Survival Benefit in Three-Year...txt" "b/news/GILD/2023.02.09/Kite's Tecartus\302\256 CAR T-Cell Therapy Demonstrates Overall Survival Benefit in Three-Year...txt" new file mode 100644 index 0000000000000000000000000000000000000000..a4c9c077a46582b794ccb47503d32dffcfd62fb7 --- /dev/null +++ "b/news/GILD/2023.02.09/Kite's Tecartus\302\256 CAR T-Cell Therapy Demonstrates Overall Survival Benefit in Three-Year...txt" @@ -0,0 +1,87 @@ + +Kite, a Gilead Company (Nasdaq: GILD), today announced the three-year follow-up results from the pivotal ZUMA-3 study of the CAR T-cell therapy Tecartus® (brexucabtagene autoleucel). Results from the analysis showed a median overall survival (OS) of 26 months and demonstrated that responses remained durable in adults with relapsed/refractory B-cell acute lymphoblastic leukemia (R/R B-ALL) with a consistent safety profile observed since the two-year analysis. These findings were presented today during a poster session at the 5th European CAR T-cell Meeting, taking place in Rotterdam, the Netherlands. + +“For adult patients living with ALL, there is a need for therapeutic options that provide long-term responses,” said Bijal Shah, MD, ZUMA-3 investigator and medical oncologist, Moffitt Cancer Center, Tampa, Florida. “The continued durable response and significant improvement in survival indicated by these new data can potentially establish a new standard of care for adult patients living with this aggressive form of leukemia.” + +In the Phase 2 treated patient cohort (n=55) the median follow-up was 38.8 months (range, 32.7-44.6). The OS rate at 36.0 months was 47.1% (95% CI, 32.7-60.2), with a median OS of 26.0 months among all treated Phase 2 patients (n=55) and 38.9 months in patients with complete remission (CR) or complete remission with incomplete hematologic recovery (CRi; n=39). Overall CR rate (CR + CRi), CR, and subsequent allogeneic stem cell transplant (alloSCT) rates remained unchanged since the prior data cut at 71%, 56%, and 20%, respectively. Median (95% CI) relapse-free survival (RFS) censored and not censored at subsequent alloSCT were both 11.6 (2.7-20.5) and 11.7 months (2.8-20.5), respectively. + +For patients treated at the pivotal dose in both Phase 1 and 2 (n=78), the median follow-up at data cutoff was 41.6 months (range, 32.7-70.3). Median (95% CI) DOR censored and not censored at subsequent alloSCT was 18.6 (9.6-24.1) and 20.0 (10.3-24.1) months, respectively. Median (95% CI) RFS were both 11.7 (6.1-20.5) months. At data cutoff, 36% of patients (28) were still alive with a median OS of 25.6 months (95% CI, 16.2-47.0) in all treated patients (n=78). The proportion of pooled Phase 1 and 2 patients with Grade ≥3 AEs that were deemed treatment-related was unchanged since the prior data cut. No Grade 5 AEs occurred since the prior data cut off. + +“We are encouraged by the sustained benefit that a single one-time treatment of Tecartus continues to provide for patients living with this difficult-to-treat blood cancer,” said Frank Neumann, MD, PhD, SVP, Kite’s Global Head of Clinical Development. “Our hope is that these results, along with our commitment to long-term research of Tecartus, will continue to provide clarity to physicians on optimal treatment methods for these patients living with this rare disease who have suffered historically poor outcomes.” + +In this trial, longer follow-up of the pivotal analysis and outcomes of a larger pooled analysis of Phase 1 and 2 patients who received the pivotal dose of Tecartus were reported. Most patients in the analysis were heavily pre-treated, with a median of two prior therapies, and 47% had received three or more prior therapies. + +About ZUMA-3 + +ZUMA-3 is an ongoing international multicenter (US, Canada, Europe), single arm, open label, registrational Phase 1/2 study of Tecartus in adult patients (≥18 years old) with ALL whose disease is refractory to or has relapsed following standard systemic therapy or hematopoietic stem cell transplantation. The primary endpoint is the rate of overall complete remission or complete remission with incomplete hematological recovery by central assessment. Duration of remission and relapse-free survival, overall survival, minimal residual disease (MRD) negativity rate, and alloSCT rate were assessed as secondary endpoints. + +About Acute Lymphoblastic Leukemia + +ALL is an aggressive and rare type of blood cancer that can also involve the lymph nodes, spleen, liver, central nervous system and other organs. While 80% of ALL occurs in children, it represents a devastating disease in adults. In adults, B-cell precursor ALL is the most common form, accounting for 75% of cases. Survival rates in adults with R/R B-ALL are poor, with median OS at less than eight months. + +About Tecartus + +Please see full FDA Prescribing Information, including BOXED WARNING and Medication Guide. + +Tecartus is a CD19-directed genetically modified autologous T cell immunotherapy indicated for the treatment of: + +This indication is approved under accelerated approval based on overall response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial. + +U.S. IMPORTANT SAFETY INFORMATION + +BOXED WARNING: CYTOKINE RELEASE SYNDROME and NEUROLOGIC TOXICITIES + +Cytokine Release Syndrome (CRS), including life-threatening reactions, occurred following treatment with Tecartus. CRS occurred in 92% (72/78) of patients with ALL, including ≥ Grade 3 (Lee grading system) CRS in 26% of patients. Three patients with ALL had ongoing CRS events at the time of death. The median time to onset of CRS was five days (range: 1 to 12 days) and the median duration of CRS was eight days (range: 2 to 63 days) for patients with ALL. + +Ensure that a minimum of two doses of tocilizumab are available for each patient prior to infusion of Tecartus. Following infusion, monitor patients for signs and symptoms of CRS daily for at least seven days at the certified healthcare facility, and for four weeks thereafter. Counsel patients to seek immediate medical attention should signs or symptoms of CRS occur at any time. At the first sign of CRS, institute treatment with supportive care, tocilizumab, or tocilizumab and corticosteroids as indicated. + +Neurologic Events, including those that were fatal or life-threatening, occurred following treatment with Tecartus. Neurologic events occurred in 87% (68/78) of patients with ALL, including ≥ Grade 3 in 35% of patients. The median time to onset for neurologic events was seven days (range: 1 to 51 days) with a median duration of 15 days (range: 1 to 397 days) in patients with ALL. For patients with MCL, 54 (66%) patients experienced CRS before the onset of neurological events. Five (6%) patients did not experience CRS with neurologic events and eight patients (10%) developed neurological events after the resolution of CRS. Neurologic events resolved for 119 out of 134 (89%) patients treated with Tecartus. Nine patients (three patients with MCL and six patients with ALL) had ongoing neurologic events at the time of death. For patients with ALL, neurologic events occurred before, during, and after CRS in 4 (5%), 57 (73%), and 8 (10%) of patients; respectively. Three patients (4%) had neurologic events without CRS. The onset of neurologic events can be concurrent with CRS, following resolution of CRS or in the absence of CRS. + +The most common neurologic events (>10%) were similar in MCL and ALL and included encephalopathy (57%), headache (37%), tremor (34%), confusional state (26%), aphasia (23%), delirium (17%), dizziness (15%), anxiety (14%), and agitation (12%). Serious events including encephalopathy, aphasia, confusional state, and seizures occurred after treatment with Tecartus. + +Monitor patients daily for at least seven days for patients with MCL and at least 14 days for patients with ALL at the certified healthcare facility and for four weeks following infusion for signs and symptoms of neurologic toxicities and treat promptly. + +REMS Program: Because of the risk of CRS and neurologic toxicities, Tecartus is available only through a restricted program under a Risk Evaluation and Mitigation Strategy (REMS) called the Yescarta and Tecartus REMS Program which requires that: + +Hypersensitivity Reactions: Serious hypersensitivity reactions, including anaphylaxis, may occur due to dimethyl sulfoxide (DMSO) or residual gentamicin in Tecartus. + +Severe Infections: Severe or life-threatening infections occurred in patients after Tecartus infusion. Infections (all grades) occurred in 56% (46/82) of patients with MCL and 44% (34/78) of patients with ALL. Grade 3 or higher infections, including bacterial, viral, and fungal infections, occurred in 30% of patients with ALL and MCL. Tecartus should not be administered to patients with clinically significant active systemic infections. Monitor patients for signs and symptoms of infection before and after Tecartus infusion and treat appropriately. Administer prophylactic antimicrobials according to local guidelines. + +Febrile neutropenia was observed in 6% of patients with MCL and 35% of patients with ALL after Tecartus infusion and may be concurrent with CRS. The febrile neutropenia in 27 (35%) of patients with ALL includes events of “febrile neutropenia” (11 (14%)) plus the concurrent events of “fever” and “neutropenia” (16 (21%)). In the event of febrile neutropenia, evaluate for infection and manage with broad spectrum antibiotics, fluids, and other supportive care as medically indicated. + +In immunosuppressed patients, life-threatening and fatal opportunistic infections have been reported. The possibility of rare infectious etiologies (e.g., fungal and viral infections such as HHV-6 and progressive multifocal leukoencephalopathy) should be considered in patients with neurologic events and appropriate diagnostic evaluations should be performed. + +Hepatitis B virus (HBV) reactivation, in some cases resulting in fulminant hepatitis, hepatic failure, and death, can occur in patients treated with drugs directed against B cells. Perform screening for HBV, HCV, and HIV in accordance with clinical guidelines before collection of cells for manufacturing. + +Prolonged Cytopenias: Patients may exhibit cytopenias for several weeks following lymphodepleting chemotherapy and Tecartus infusion. In patients with MCL, Grade 3 or higher cytopenias not resolved by Day 30 following Tecartus infusion occurred in 55% (45/82) of patients and included thrombocytopenia (38%), neutropenia (37%), and anemia (17%). In patients with ALL who were responders to Tecartus treatment, Grade 3 or higher cytopenias not resolved by Day 30 following Tecartus infusion occurred in 20% (7/35) of the patients and included neutropenia (12%) and thrombocytopenia (12%); Grade 3 or higher cytopenias not resolved by Day 60 following Tecartus infusion occurred in 11% (4/35) of the patients and included neutropenia (9%) and thrombocytopenia (6%). Monitor blood counts after Tecartus infusion. + +Hypogammaglobulinemia: B cell aplasia and hypogammaglobulinemia can occur in patients receiving treatment with Tecartus. Hypogammaglobulinemia was reported in 16% (13/82) of patients with MCL and 9% (7/78) of patients with ALL. Monitor immunoglobulin levels after treatment with Tecartus and manage using infection precautions, antibiotic prophylaxis, and immunoglobulin replacement. + +The safety of immunization with live viral vaccines during or following Tecartus treatment has not been studied. Vaccination with live virus vaccines is not recommended for at least six weeks prior to the start of lymphodepleting chemotherapy, during Tecartus treatment, and until immune recovery following treatment with Tecartus. + +Secondary Malignancies may develop. Monitor life-long for secondary malignancies. In the event that one occurs, contact Kite at 1-844-454-KITE (5483) to obtain instructions on patient samples to collect for testing. + +Effects on Ability to Drive and Use Machines: Due to the potential for neurologic events, including altered mental status or seizures, patients are at risk for altered or decreased consciousness or coordination in the 8 weeks following Tecartus infusion. Advise patients to refrain from driving and engaging in hazardous activities, such as operating heavy or potentially dangerous machinery, during this period. + +Adverse Reactions: The most common non-laboratory adverse reactions (≥ 20%) were fever, cytokine release syndrome, hypotension, encephalopathy, tachycardia, nausea, chills, headache, fatigue, febrile neutropenia, diarrhea, musculoskeletal pain, hypoxia, rash, edema, tremor, infection with pathogen unspecified, constipation, decreased appetite, and vomiting. The most common serious adverse reactions (≥ 2%) were cytokine release syndrome, febrile neutropenia, hypotension, encephalopathy, fever, infection with pathogen unspecified, hypoxia, tachycardia, bacterial infections, respiratory failure, seizure, diarrhea, dyspnea, fungal infections, viral infections, coagulopathy, delirium, fatigue, hemophagocytic lymphohistiocytosis, musculoskeletal pain, edema, and paraparesis. + +Please see full Prescribing Information, including BOXED WARNING and Medication Guide. + +About Kite + +Kite, a Gilead Company, is a global biopharmaceutical company based in Santa Monica, California, focused on cell therapy to treat and potentially cure cancer. As the global cell therapy leader, Kite has treated more patients with CAR T-cell therapy than any other company. Kite has the largest in-house cell therapy manufacturing network in the world, spanning process development, vector manufacturing, clinical trial production and commercial product manufacturing. For more information on Kite, please visit www.kitepharma.com. + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. Gilead Sciences acquired Kite in 2017. + +Forward-Looking Statements + +This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead and Kite’s ability to initiate, progress or complete clinical trials within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional clinical trials, including those involving Tecartus; the risk that physicians and patients may not see the potential benefits of Tecartus for the treatment of adult patients with relapsed or refractory B-cell ALL; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and are cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Kite and Gilead, and Kite and Gilead assume no obligation and disclaim any intent to update any such forward-looking statements. + +U.S. Prescribing Information for Tecartus including BOXED WARNING, is available at www.kitepharma.com and www.gilead.com. + +Kite, the Kite logo, Tecartus and GILEAD are trademarks of Gilead Sciences, Inc. or its related companies. + +For more information on Kite, please visit the company’s website at www.kitepharma.com or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. Follow Kite on social media on Twitter (@KitePharma) and LinkedIn. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005227/en/ \ No newline at end of file diff --git a/news/GILD/2023.02.10/Kite's tecartus car t-cell therapy demonstrates overall survival benefit in three-year ...txt b/news/GILD/2023.02.10/Kite's tecartus car t-cell therapy demonstrates overall survival benefit in three-year ...txt new file mode 100644 index 0000000000000000000000000000000000000000..666ff8cab0f7c4d2839d8e621a389c557b07a0a8 --- /dev/null +++ b/news/GILD/2023.02.10/Kite's tecartus car t-cell therapy demonstrates overall survival benefit in three-year ...txt @@ -0,0 +1 @@ +Kite, a Gilead Company (Nasdaq: GILD), today announced the three-year follow-up results from the pivotal ZUMA-3 study of the CAR T-cell therapy Tecartus (brexucabtagene autoleucel).Results from the analysis showed a median overall survival (OS) of 26 months and demonstrated that responses remained durable in adults with relapsed/refractory B-cell acute lymphoblastic leukemia (R/R B-ALL) with a consistent safety profile observed since the two-year analysis. These findings were presented today during a poster session at the 5th European CAR T-cell Meeting, taking place in Rotterdam, the Netherlands.For adult patients living with ALL, there is a need for therapeutic options that provide long-term responses,' said Bijal Shah, MD, ZUMA-3 investigator and medical oncologist, Moffitt Cancer Center, Tampa, Florida. 'The continued durable response and significant improvement in survival indicated by these new data can potentially establish a new standard of care for adult patients living with this aggressive form of leukemia.'In the Phase 2 treated patient cohort (n=55) the median follow-up was 38.8 months (range, 32.7-44.6). The OS rate at 36.0 months was 47.1% (95% CI, 32.7-60.2), with a median OS of 26.0 months among all treated Phase 2 patients (n=55) and 38.9 months in patients with complete remission (CR) or complete remission with incomplete hematologic recovery (CRi; n=39). Overall CR rate (CR + CRi), CR, and subsequent allogeneic stem cell transplant (alloSCT) rates remained unchanged since the prior data cut at 71%, 56%, and 20%, respectively. Median (95% CI) relapse-free survival (RFS) censored and not censored at subsequent alloSCT were both 11.6 (2.7-20.5) and 11.7 months (2.8-20.5), respectively.For patients treated at the pivotal dose in both Phase 1 and 2 (n=78), the median follow-up at data cutoff was 41.6 months (range, 32.7-70.3). Median (95% CI) DOR censored and not censored at subsequent alloSCT was 18.6 (9.6-24.1) and 20.0 (10.3-24.1) months, respectively. Median (95% CI) RFS were both 11.7 (6.1-20.5) months. At data cutoff, 36% of patients (28) were still alive with a median OS of 25.6 months (95% CI, 16.2-47.0) in all treated patients (n=78). The proportion of pooled Phase 1 and 2 patients with Grade 3 AEs that were deemed treatment-related was unchanged since the prior data cut. No Grade 5 AEs occurred since the prior data cut off.We are encouraged by the sustained benefit that a single one-time treatment of Tecartus continues to provide for patients living with this difficult-to-treat blood cancer,' said Frank Neumann, MD, PhD, SVP, Kite's Global Head of Clinical Development. 'Our hope is that these results, along with our commitment to long-term research of Tecartus, will continue to provide clarity to physicians on optimal treatment methods for these patients living with this rare disease who have suffered historically poor outcomes.'In this trial, longer follow-up of the pivotal analysis and outcomes of a larger pooled analysis of Phase 1 and 2 patients who received the pivotal dose of Tecartus were reported. Most patients in the analysis were heavily pre-treated, with a median of two prior therapies, and 47% had received three or more prior therapies.About ZUMA-3ZUMA-3 is an ongoing international multicenter (US, Canada, Europe), single arm, open label, registrational Phase 1/2 study of Tecartus in adult patients (18 years old) with ALL whose disease is refractory to or has relapsed following standard systemic therapy or hematopoietic stem cell transplantation. The primary endpoint is the rate of overall complete remission or complete remission with incomplete hematological recovery by central assessment. Duration of remission and relapse-free survival, overall survival, minimal residual disease (MRD) negativity rate, and alloSCT rate were assessed as secondary endpoints.About Acute Lymphoblastic LeukemiaALL is an aggressive and rare type of blood cancer that can also involve the lymph nodes, spleen, liver, central nervous system and other organs. While 80% of ALL occurs in children, it represents a devastating disease in adults. In adults, B-cell precursor ALL is the most common form, accounting for 75% of cases. Survival rates in adults with R/R B-ALL are poor, with median OS at less than eight months.About KiteKite, a Gilead Company, is a global biopharmaceutical company based in Santa Monica, California, focused on cell therapy to treat and potentially cure cancer. As the global cell therapy leader, Kite has treated more patients with CAR T-cell therapy than any other company. Kite has the largest in-house cell therapy manufacturing network in the world, spanning process development, vector manufacturing, clinical trial production and commercial product manufacturing.About Gilead SciencesGilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. Gilead Sciences acquired Kite in 2017.Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead and Kite's ability to initiate, progress or complete clinical trials within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional clinical trials, including those involving Tecartus; the risk that physicians and patients may not see the potential benefits of Tecartus for the treatment of adult patients with relapsed or refractory B-cell ALL and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and are cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Kite and Gilead, and Kite and Gilead assume no obligation and disclaim any intent to update any such forward-looking statements.Contact:Email: investor_relations@gilead.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/GILD/2023.02.14/Gilead Demonstrates Transformative Potential Impact Of Antiviral Innovation at CROI 202...txt b/news/GILD/2023.02.14/Gilead Demonstrates Transformative Potential Impact Of Antiviral Innovation at CROI 202...txt new file mode 100644 index 0000000000000000000000000000000000000000..e83ea1f371259e3f1c05ae55fd23b960114a3de7 --- /dev/null +++ b/news/GILD/2023.02.14/Gilead Demonstrates Transformative Potential Impact Of Antiviral Innovation at CROI 202...txt @@ -0,0 +1,197 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) today announced the upcoming presentation of new clinical and real-world data from the company’s HIV, COVID-19 and viral hepatitis research and development programs at the 30th Conference on Retroviruses and Opportunistic Infections (CROI) from February 19-22. Seventy abstracts, including late-breaking data, demonstrate Gilead’s continued expertise and leadership in virology with a commitment to advance the next wave of scientific discovery to treat, prevent, cure and help eradicate viral diseases. + +“Positioning people at the center of the research and development process is helping us to fuel the next wave of innovation in virology,” said Frank Duff, MD, Senior Vice President, Virology Therapeutic Area Head, Gilead Sciences. “Our scientific advances are grounded in collaboration with community and research partners around the world and highlight the importance of developing innovative solutions for the unmet and evolving needs of those most affected by viral diseases. The data selected for presentation at CROI include real-world evidence in the treatment of COVID-19, the investigational evaluation of existing therapies for HIV/hepatitis B co-infection, and new HIV treatment, prevention, and cure data evaluating long-acting options as well as novel combination therapies.” + +HIV Research + +Gilead is committed to continuous scientific discovery to provide solutions for the evolving needs of people affected by HIV around the world, with the goal of ending the HIV epidemic for everyone, everywhere. At CROI 2023, Gilead will share new findings on HIV treatment and prevention strategies, as well as the latest updates from the company’s continued pursuit of an HIV cure. + +HIV treatment research and development data include proof-of-concept Phase 1b data on the safety and efficacy profile of lenacapavir in combination with investigational broadly neutralizing antibodies (bNAbs) – teropavimab and zinlirvimab – dosed twice-yearly in virologically suppressed adults for the treatment of HIV. + +Insights from Gilead’s cure research program include new data from multiple collaborative studies evaluating novel combination therapies aimed at targeting the HIV viral reservoir and enhancing the immune response to maintain virologic control in the absence of antiretroviral therapy. The findings support the continued investigational evaluation of broadly neutralizing antibodies, vaccine candidates, and toll-like receptor agonists. + +Additionally, Gilead will present data from a pre-clinical in vivo assessment of a single subcutaneous administration of lenacapavir for pre-exposure prophylaxis (PrEP). As part of the company’s HIV prevention research program, Gilead will also present the results of a multinational pooled analysis of real-world adherence to PrEP and HIV incidence in cisgender women. + +COVID-19 Research + +Gilead will present data that reinforce the critical role Veklury® (remdesivir) plays as the antiviral standard of care for the treatment of hospitalized patients with COVID-19. Real-world insights on Veklury’s use will provide important, up-to-date evidence from large, hospitalized populations – including patients with immunocompromised conditions – across different periods of the pandemic and different variants of concern. A separate study will evaluate the likelihood of all cause readmission among hospitalized patients who received Veklury compared to those who did not. + +Additionally, Gilead will present a new in vitro analysis that evaluates the antiviral activity of Veklury against common variants of concern, and data assessing the resistance profile of Veklury and other antiviral compounds. + +Viral Hepatitis Research + +Gilead will present new data from the ALLIANCE trial, which is an ongoing Phase 3 trial evaluating Biktarvy® (bictegravir 50 mg/emtricitabine 200 mg/tenofovir alafenamide 25 mg tablets, B/F/TAF) versus dolutegravir (50 mg, DTG) + emtricitabine 200 mg/tenofovir disoproxil fumarate 300 mg, F/TDF, DTG+F/TDF, in adults with HIV-1/HBV co-infection who are initiating treatment. The sub-analysis of Week 48 results complements the initial data presented at the 24th International AIDS Conference (AIDS 2022), with a focus on the HBV outcomes in this coinfected population. + +Accepted abstracts at the 30th Conference on Retroviruses and Opportunistic Infections include: + +HIV Research + +Long-Acting HIV Treatment Research + +Lenacapavir with bNAbs – teropavimab and zinlirvimab – dosed every 6 months in people with HIV + +Susceptibility screening to – teropavimab and zinlirvimab – in ART-suppressed patients + +Population PK analysis to guide dosing window following lenacapavir SC administration + +Antiviral activity of lenacapavir against HIV-2 isolates + +Long-acting lenacapavir in a combination regimen for treatment naïve PWH: week 80 + +Week 52 subgroup efficacy of lenacapavir in heavily treatment-experienced PWH + +Six-month outcome of F/TAF cobicistat-boosted darunavir in children 14 to <25kg + +HIV Prevention Research + +8+ years pooled analysis: Adherence and HIV incidence in 6000 women on F/TDF for PrEP + +Lenacapavir protects against rectal sHIV acquisition in macaque model + +HIV Cure Research + +The impact of 3BNC117, 10-1074 and lefitolimod on HIV-1 persistence – the TITAN trial + +Vesatolimod pharmacodynamic response is associated with time to HIV rebound + +Heterologous ChAd/samRNA vaccine induces robust T-cell responses in macaques + +A placebo controlled randomized trial of the HTI immunogen vaccine and vesatolimod (late-breaker) + +Rebound dynamics following immunotherapy with an HIV vaccine, TLR9 agonist, and bNAbs (late-breaker) + +COVID-19 Research + +Remdesivir is Associated with Reduced Readmission After COVID-19 Hospitalization + +Remdesivir Reduces Mortality in Hospitalized COVID-19 Patients Across Variant Eras + +Remdesivir Reduces Mortality in Immunocompromised Patients Hospitalized For COVID-19 + +Pharmacokinetic Analysis Informs the Dose of Remdesivir in Severe Renal Impairment + +Incidence of Diagnosed Long COVID Symptoms in Patients Previously Hospitalized for COVID-19 + +Remdesivir Resistance Analyses From the PINETREE Study in Outpatients With COVID-19 + +Remdesivir Retains Potent Activity Against SARS-COV-2 Omicron Subvariants + +Viral Hepatitis Research + +Predictors of Hepatitis B treatment response in people with HIV/HBV coinfection + +For more information, including a complete list of abstracts and their corresponding oral and poster sessions, please visit https://www.croiconference.org. + +Teropavimab, zinlirvimab, lefitolimod, vesatolimod, GS-5423, GS-2872, VRC07-523LS are investigational compounds and are not approved by the U.S. Food and Drug Administration or any other regulatory authority for any use. Their safety and efficacy are unknown. + +The use of lenacapavir for HIV prevention is investigational and the safety and efficacy of lenacapavir for this use have not been established. Gilead is studying the safety and efficacy of lenacapavir for HIV prevention in multiple ongoing clinical studies. + +The use of Biktarvy in individuals with HIV-1/HBV coinfection is investigational, and the safety and efficacy of Biktarvy for this use have not been established. + +Please see below for the U.S. Indication and Important Safety Information for Veklury and Sunlenca. Please also see below for U.S. Indication and Important Safety Information, including Boxed Warning, for Biktarvy. + +There is currently no cure for HIV or AIDS. + +About Biktarvy + +Biktarvy is a complete HIV treatment that combines three powerful medicines to form the smallest 3-drug, integrase strand transfer inhibitor (INSTI)-based single-tablet regimen (STR) available, offering simple once-daily dosing with or without food, with a limited drug interaction potential and a high barrier to resistance. Biktarvy combines the novel, unboosted INSTI bictegravir, with the Descovy® (emtricitabine 200 mg/tenofovir alafenamide 25 mg tablets, F/TAF) backbone. Biktarvy is a complete STR and should not be taken with other HIV medicines. + +About Sunlenca® + +Sunlenca (300 mg tablet and 463.5 mg/1.5 mL injection) [(lenacapavir)] is a first-in-class, long-acting HIV capsid inhibitor approved in the United States, the United Kingdom, Canada and the European Union, for the treatment of HIV infection, in combination with other antiretroviral(s), in people with multi-drug resistant HIV who are heavily treatment-experienced. Sunlenca tablets are approved for oral loading during initiation of Sunlenca treatment, prior to or at the time of the first long-acting lenacapavir injection depending on initiation option. Sunlenca is the only HIV treatment option administered twice-yearly. The multi-stage mechanism of action of Sunlenca’s active pharmaceutical agent, lenacapavir, is distinguishable from other currently approved classes of antiviral agents. While most antivirals act on just one stage of viral replication, Sunlenca is designed to inhibit HIV at multiple stages of its lifecycle and has no known cross resistance exhibited in vitro to other existing drug classes. + +Lenacapavir is an investigational agent being evaluated as a long-acting option in multiple ongoing and planned early and late-stage clinical studies in Gilead's prevention and treatment research program. Lenacapavir is being developed as a foundation for future HIV therapies with the goal of offering both long-acting oral and injectable options with several dosing frequencies, in combination or as monotherapy, that help address individual patient needs and preferences. + +About Veklury + +Veklury (remdesivir) is a nucleotide analog invented by Gilead, building on more than a decade of the company’s antiviral research. Veklury is a foundation for the treatment of hospitalized patients with COVID-19 and is a recommended treatment for reducing disease progression in non-hospitalized patients at high risk of disease progression. Veklury has an established safety profile and minimal known drug interactions in diverse populations. It can help reduce disease progression across a spectrum of disease severity and enable patients to recover faster, freeing up limited hospital resources and saving healthcare systems money. + +Veklury is approved in more than 50 countries worldwide. To date, Veklury and generic remdesivir have been made available to nearly 13 million patients around the world, including more than 8 million people in middle- and low-income countries through Gilead’s voluntary licensing program. These licenses currently remain royalty-free, reflecting Gilead’s existing commitment to enabling broad patient access to remdesivir. + +There remains a significant need to develop new and effective oral treatment options for people with COVID-19. Gilead is also working to advance an oral nucleoside prodrug inhibitor of the SARS-CoV-2 polymerase, GS-5245, which once metabolized targets SARS-CoV-2 virus replication via an identical mechanism as remdesivir. + +U.S. Indication for Biktarvy + +Biktarvy is indicated as a complete regimen for the treatment of human immunodeficiency virus type 1 (HIV-1) infection in adults and pediatric patients weighing at least 14 kg who have no antiretroviral treatment history or to replace the current antiretroviral regimen in those who are virologically-suppressed (HIV-1 RNA less than 50 copies per mL) on a stable antiretroviral regimen with no history of treatment failure and no known substitutions associated with resistance to the individual components of Biktarvy. + +U.S. Important Safety Information for Biktarvy + +BOXED WARNING: POST TREATMENT ACUTE EXACERBATION OF HEPATITIS B + +Contraindications + +Warnings and precautions + +Adverse reactions + +Drug interactions + +Dosage and administration + +Pregnancy and lactation + +U.S. Indication for Sunlenca + +Sunlenca, a human immunodeficiency virus type 1 (HIV-1) capsid inhibitor, in combination with other antiretroviral(s), is indicated for the treatment of HIV-1 infection in heavily treatment-experienced adults with multidrug resistant HIV-1 infection failing their current antiretroviral regimen due to resistance, intolerance, or safety considerations. + +U.S. Important Safety Information for Sunlenca + +Contraindications + +Warnings and precautions + +Adverse reactions + +Drug interactions + +Dosage and administration + +Pregnancy and lactation + +U.S. Indication for Veklury + +Veklury (remdesivir 100 mg for injection) is indicated for the treatment of COVID-19 in adults and pediatric patients (≥28 days old and weighing ≥3 kg) with positive results of SARS-CoV-2 viral testing, who are: + +For more information, please see the U.S. full Prescribing Information available at www.gilead.com. + +U.S. Important Safety Information for Veklury + +Contraindication + +Veklury is contraindicated in patients with a history of clinically significant hypersensitivity reactions to Veklury or any of its components. + +Warnings and precautions + +Adverse reactions + +Drug interactions + +Dosage and administration + +Dose preparation and administration: + +Pregnancy and lactation + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases and address unmet needs in virology, oncology and inflammation. + +Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. + +Gilead has a long history in virology and has pioneered inventions once thought impossible, including antiviral treatments for people and communities affected by some of the most challenging public health concerns including HIV, viral hepatitis and COVID-19. + +Gilead helps people and communities across the full continuum of care in virology by developing bold advances that treat, prevent, cure and eradicate viral diseases and collaborating with community and research partners around the world. Gilead is deploying decades of antiviral expertise to provide solutions that help address the unmet and evolving needs of those impacted by viral diseases. + +Our work in virology has helped to transform the global health landscape and we are committed to advancing person-centered science and actionable education programs that make a difference for people and communities affected by viral diseases. + +Forward-Looking Statements + +This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead’s ability to initiate, progress or complete clinical trials or studies within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing and additional clinical trials or studies, including those involving Biktarvy, Veklury, lefitolimod, lenacapavir, vesatolimod, GS-5423, GS-2872 and VRC07-523LS; uncertainties relating to regulatory applications and related filing and approval timelines, and; the risk that any regulatory approvals, if granted, may be subject to significant limitations on use; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements. + +U.S. Prescribing Information for Biktarvy, including BOXED WARNING, U.S. full Prescribing Information for Sunlenca, and U.S. full Prescribing Information for Veklury are available at www.gilead.com. + +Biktarvy, Sunlenca, Veklury, Gilead and the Gilead logo are registered trademarks of Gilead Sciences, Inc., or its related companies. All other trademarks are the property of their respective owner(s). + +For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@Gilead Sciences) and LinkedIn, or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230213005677/en/ \ No newline at end of file diff --git a/news/GILD/2023.02.14/Inflation is back (on the calendar).txt b/news/GILD/2023.02.14/Inflation is back (on the calendar).txt new file mode 100644 index 0000000000000000000000000000000000000000..31ca092010c5ce71172e8729f62417cb379923f0 --- /dev/null +++ b/news/GILD/2023.02.14/Inflation is back (on the calendar).txt @@ -0,0 +1,49 @@ + +The indexes all gained more than 1%, thanks in particular to cyclical and technology stocks. The wave of caution that had gripped the stock market last week has tended to recede. That's the problem with these periods of uncertainty: we know it's going up and down, but we don't know by how much. As mentioned yesterday, everyone is waiting for 8:30am and the announcement of January's US inflation to decide whether the rebound will continue or whether it will get deflated. To validate the first hypothesis, inflation must continue to decline for the U.S. central bank to adopt a less aggressive attitude on rates. On the other hand, signals of pressure on prices, which are possible between December and January for seasonal reasons, are likely to frighten financiers. On average, the market expects annual inflation to fall from 6.5% in December to 6.2% in January, but prices to rise by 0.5% over a month. ING points out in passing this morning that these two figures are incompatible because an increase of 0.5% between December and January should translate into an annual inflation of 6.3% or 6.4%. So economists, can't we count anymore? +In the rest of the news, apparently no balloons have been fired in the world sky for at least 24 hours. Tensions on this point remain high between the United States and China. Beijing has accused Washington of flying balloons in Chinese airspace. At least ten in January. According to my information, Brussels is preparing a working group on the subject. The white paper that will come out of it will allow aerial observations to be made from 2027 onwards, with a view to preparing a possible response at the beginning of the next decade. In Japan, Kazuo Ueda, who is 71 years old, will be the new governor of the central bank starting in April. I don't know anything about Japanese banking genealogy, but I noticed that Ueda was not on the list of contenders to succeed Haruhiko Kuroda that had been circulating until last week. This academic has a good reputation, even if he is rumored to owe his place to the evasion of Masayoshi Amamiya, the current deputy governor of the Bank of Japan. On a related note, the Wall Street Journal understands that Joe Biden will announce this week the appointment of current Fed Vice Chair Lael Brainard as head of the Fed's National Economic Council. +To continue on a funnier note, well, funnily enough, I noticed yesterday that Elon Musk appeared in all the suggestions of the MarketScreener Twitter account. I was a bit saddened by this, but I moved on. Apparently, I'm not the only one to have noticed this and a journalist from the American media The Verge also got upset, recalling that the American billionaire had complained a few days ago that his tweets weren't seen enough and that he even fired an engineer for this reason (I didn't check). Apparently, Musk's account has been on a downward slope in terms of popularity since April, with engagement dropping quite a bit. Not being a man to imagine that he could annoy his audience, Elon had a technical problem looked for, estimating that 95% of his tweets were not delivered. His teams having not identified any malfunction, he asked them to look for more. From there, it's only a short step to see a cause and effect relationship with the omnipresence of the boss's tweets in the suggestions of all of us. I guess you could call it ordered freedom of speech. It's really quite reassuring if it's true. The story in a bit more detail here. +New delivery of results today with Coca-Cola, Airbnb, Zoetis, Marriott, Ecolab, GlobalFoundries or Akamai in the United States. For its part, the American Palantir exceeded expectations. +Economic highlights of the day: +The US inflation for January will be presented at 8:30am. All the agenda here. Last night, Japan announced that its GDP grew modestly by 0.2% between Q3 and Q4 2022, less than expected (0.5%). + +The dollar drops to 0.9293 EUR. The ounce of gold is trading at 1857 USD. Oil remains firm, with North Sea Brent crude at USD 85.48 per barrel and U.S. light crude WTI at USD 78.97. The yield on 10-year US debt is back down to 3.69%. Bitcoin is sailing around USD 21,800. + +In corporate news: + + +* Boeing - Tata Group-owned Air India will buy 220 planes from Boeing and 250 planes from Airbus for a total of more than $100 billion at list price. + +* Ford plans to cut 3,800 engineering and administrative jobs in Europe over the next three years to improve its cost structure and competitiveness in electric vehicles, the automaker announced Tuesday. The stock is up 1% in pre-market trading. + +* Tesla adjusted its prices for the fourth time in two months, raising the price of the Model Y Performance and lowering the price of the Model 3 Propulsion. + +* Apple is facing difficulties with the transfer of part of its production to India, as the yield in the manufacture of certain components is less than 50%. + +* Liberty Global said Monday it has acquired a 4.92% stake in British telecom operator Vodafone, but added that it was not considering a takeover bid for the group. + +* Paramount Global is again trying to sell Simon & Schuster after a $2.2 billion deal with Penguin Random House failed last November. + +* Walmart will close three of its U.S. technology centers (Austin, Carlsbad and Portland), which will mean the transfer of hundreds of employees if they want to keep their jobs. + +* Palantir Technologies announced Monday that it expects to post its first full year in the black this year after better-than-expected fourth-quarter results. The stock jumped 17.7% in pre-market trading. + +* Avis Budget Group gained 4.2% in after-hours trading after reporting better-than-expected fourth-quarter results linked to strong demand in the corporate and leisure travel businesses. + +* T-Mobile US - Users of the U.S. telecom operator faced a giant nationwide outage Monday. + +Analyst recommendations: + +Advanced Micro Devices: Benchmark Company raised the target to $103 from $93. Maintains buy rating. +Belden: Benchmark Company increased its price target to $108 from $88. +Fidelity National Information Services: Morgan Stanley moved to overweight from equal-weight. PT set to $79. +Gilead Sciences: Mizuho Securities maintains buy rating. Price target downgrades to $101 from $88. + Interpublic Group: Citi raised its expectations to $45 from $39. Maintains buy rating. +Jupiter Fund Management: Morgan Stanley initiated coverage with a recommendation of equal-weight. Price target set to 152 pence. +Lattice Semiconductor: Susquehanna Financial raised the target to $95 from $75. Maintains positive rating. +Mettler-Toledo: UBS maintains neutral rating. PT upgrades to $1,580 from $1,292. +Occidental Petroleum: Goldman Sachs raised the recommendation to buy from neutral. Price target up 25% to $81. +Royal Caribbean: Macquarie maintains outperform rating and set price target to $85 from $65. +Take-Two Interactive Software: DZ Bank cut the recommendation to hold from buy. PT set to $105 +Willis Towers Watson: Stifel upgraded its price target to $255 from $228. Maintains hold rating. + + diff --git a/news/GILD/2023.02.15/Gilead Sciences Demonstrates Transformative Potential Impact of Antiviral Innovation at...txt b/news/GILD/2023.02.15/Gilead Sciences Demonstrates Transformative Potential Impact of Antiviral Innovation at...txt new file mode 100644 index 0000000000000000000000000000000000000000..5e36661c94b9bd9a5fe2c730b0510c146e718f89 --- /dev/null +++ b/news/GILD/2023.02.15/Gilead Sciences Demonstrates Transformative Potential Impact of Antiviral Innovation at...txt @@ -0,0 +1 @@ +FOSTER CITY - Gilead Sciences, Inc. (Nasdaq: GILD) today announced the upcoming presentation of new clinical and real-world data from the company's HIV, COVID-19 and viral hepatitis research and development programs at the 30th Conference on Retroviruses and Opportunistic Infections (CROI) from February 19-22.Seventy abstracts, including late-breaking data, demonstrate Gilead's continued expertise and leadership in virology with a commitment to advance the next wave of scientific discovery to treat, prevent, cure and help eradicate viral diseases.'Positioning people at the center of the research and development process is helping us to fuel the next wave of innovation in virology,' said Frank Duff, MD, Senior Vice President, Virology Therapeutic Area Head, Gilead Sciences. 'Our scientific advances are grounded in collaboration with community and research partners around the world and highlight the importance of developing innovative solutions for the unmet and evolving needs of those most affected by viral diseases. The data selected for presentation at CROI include real-world evidence in the treatment of COVID-19, the investigational evaluation of existing therapies for HIV/hepatitis B co-infection, and new HIV treatment, prevention, and cure data evaluating long-acting options as well as novel combination therapies.'HIV ResearchGilead is committed to continuous scientific discovery to provide solutions for the evolving needs of people affected by HIV around the world, with the goal of ending the HIV epidemic for everyone, everywhere. At CROI 2023, Gilead will share new findings on HIV treatment and prevention strategies, as well as the latest updates from the company's continued pursuit of an HIV cure.HIV treatment research and development data include proof-of-concept Phase 1b data on the safety and efficacy profile of lenacapavir in combination with investigational broadly neutralizing antibodies (bNAbs) - teropavimab and zinlirvimab dosed twice-yearly in virologically suppressed adults for the treatment of HIV.Insights from Gilead's cure research program include new data from multiple collaborative studies evaluating novel combination therapies aimed at targeting the HIV viral reservoir and enhancing the immune response to maintain virologic control in the absence of antiretroviral therapy. The findings support the continued investigational evaluation of broadly neutralizing antibodies, vaccine candidates, and toll-like receptor agonists.Additionally, Gilead will present data from a pre-clinical in vivo assessment of a single subcutaneous administration of lenacapavir for pre-exposure prophylaxis (PrEP). As part of the company's HIV prevention research program, Gilead will also present the results of a multinational pooled analysis of real-world adherence to PrEP and HIV incidence in cisgender women.COVID-19 ResearchGilead will present data that reinforce the critical role Veklury (remdesivir) plays as the antiviral standard of care for the treatment of hospitalized patients with COVID-19. Real-world insights on Veklury's use will provide important, up-to-date evidence from large, hospitalized populations - including patients with immunocompromised conditions - across different periods of the pandemic and different variants of concern. A separate study will evaluate the likelihood of all cause readmission among hospitalized patients who received Veklury compared to those who did not.Additionally, Gilead will present a new in vitro analysis that evaluates the antiviral activity of Veklury against common variants of concern, and data assessing the resistance profile of Veklury and other antiviral compounds.About BiktarvyBiktarvy is a complete HIV treatment that combines three powerful medicines to form the smallest 3-drug, integrase strand transfer inhibitor (INSTI)-based single-tablet regimen (STR) available, offering simple once-daily dosing with or without food, with a limited drug interaction potential and a high barrier to resistance. Biktarvy combines the novel, unboosted INSTI bictegravir, with the Descovy (emtricitabine 200 mg/tenofovir alafenamide 25 mg tablets, F/TAF) backbone. Biktarvy is a complete STR and should not be taken with other HIV medicines.About SunlencaSunlenca (300 mg tablet and 463.5 mg/1.5 mL injection) [(lenacapavir)] is a first-in-class, long-acting HIV capsid inhibitor approved in the United States, the United Kingdom, Canada and the European Union, for the treatment of HIV infection, in combination with other antiretroviral(s), in people with multi-drug resistant HIV who are heavily treatment-experienced. Sunlenca tablets are approved for oral loading during initiation of Sunlenca treatment, prior to or at the time of the first long-acting lenacapavir injection depending on initiation option. Sunlenca is the only HIV treatment option administered twice-yearly. The multi-stage mechanism of action of Sunlenca's active pharmaceutical agent, lenacapavir, is distinguishable from other currently approved classes of antiviral agents. While most antivirals act on just one stage of viral replication, Sunlenca is designed to inhibit HIV at multiple stages of its lifecycle and has no known cross resistance exhibited in vitro to other existing drug classes.Lenacapavir is an investigational agent being evaluated as a long-acting option in multiple ongoing and planned early and late-stage clinical studies in Gilead's prevention and treatment research program. Lenacapavir is being developed as a foundation for future HIV therapies with the goal of offering both long-acting oral and injectable options with several dosing frequencies, in combination or as monotherapy, that help address individual patient needs and preferences.About VekluryVeklury (remdesivir) is a nucleotide analog invented by Gilead, building on more than a decade of the company's antiviral research. Veklury is a foundation for the treatment of hospitalized patients with COVID-19 and is a recommended treatment for reducing disease progression in non-hospitalized patients at high risk of disease progression. Veklury has an established safety profile and minimal known drug interactions in diverse populations. It can help reduce disease progression across a spectrum of disease severity and enable patients to recover faster, freeing up limited hospital resources and saving healthcare systems money.Veklury is approved in more than 50 countries worldwide. To date, Veklury and generic remdesivir have been made available to nearly 13 million patients around the world, including more than 8 million people in middle- and low-income countries through Gilead's voluntary licensing program. These licenses currently remain royalty-free, reflecting Gilead's existing commitment to enabling broad patient access to remdesivir.There remains a significant need to develop new and effective oral treatment options for people with COVID-19. Gilead is also working to advance an oral nucleoside prodrug inhibitor of the SARS-CoV-2 polymerase, GS-5245, which once metabolized targets SARS-CoV-2 virus replication via an identical mechanism as remdesivir.About Gilead SciencesGilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases and address unmet needs in virology, oncology and inflammation.Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California.Gilead has a long history in virology and has pioneered inventions once thought impossible, including antiviral treatments for people and communities affected by some of the most challenging public health concerns including HIV, viral hepatitis and COVID-19.Gilead helps people and communities across the full continuum of care in virology by developing bold advances that treat, prevent, cure and eradicate viral diseases and collaborating with community and research partners around the world. Gilead is deploying decades of antiviral expertise to provide solutions that help address the unmet and evolving needs of those impacted by viral diseases.Our work in virology has helped to transform the global health landscape and we are committed to advancing person-centered science and actionable education programs that make a difference for people and communities affected by viral diseases.Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead's ability to initiate, progress or complete clinical trials or studies within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing and additional clinical trials or studies, including those involving Biktarvy, Veklury, lefitolimod, lenacapavir, vesatolimod, GS-5423, GS-2872 and VRC07-523LS; uncertainties relating to regulatory applications and related filing and approval timelines, and; the risk that any regulatory approvals, if granted, may be subject to significant limitations on use and any assumptions underlying any of the foregoing. These and other risks, uncertainties and factors are described in detail in Gilead's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements.Contact:Jacquie RossEmail: investorrelations@gilead.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git "a/news/GILD/2023.02.17/Trodelvy\302\256 Demonstrates Positive Efficacy Treating Both Platinum-Ineligible and Rapidly ...txt" "b/news/GILD/2023.02.17/Trodelvy\302\256 Demonstrates Positive Efficacy Treating Both Platinum-Ineligible and Rapidly ...txt" new file mode 100644 index 0000000000000000000000000000000000000000..4c43edac5ceb69924626d241a9ef4324997ad6bd --- /dev/null +++ "b/news/GILD/2023.02.17/Trodelvy\302\256 Demonstrates Positive Efficacy Treating Both Platinum-Ineligible and Rapidly ...txt" @@ -0,0 +1,145 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) today announced new and updated positive results from three cohorts of the Phase 2 TROPHY-U-01 study of Trodelvy® (sacituzumab govitecan-hziy) for the treatment of metastatic urothelial cancer (mUC). These data demonstrate that Trodelvy produced both rapid and durable responses for patients across a range of hard-to-treat types of mUC including platinum-ineligible and rapidly progressing, post-platinum mUC. These findings will be featured in both an oral session (abstract #520) and in poster presentations (abstract #518, #526) during the 2023 American Society of Clinical Oncology Genitourinary Cancers Symposium (ASCO-GU) Annual Meeting February 16-18. + +“The TROPHY-U-01 data show consistent benefit of Trodelvy across multiple types of metastatic urothelial cancer, including the most difficult-to-treat and, often times, frail patients where treatment options are still scarce,” said Bill Grossman, MD, PhD, Senior Vice President, Therapeutic Area Head, Gilead Oncology. “Trodelvy has the potential to become a cornerstone treatment in metastatic urothelial cancer, and we are excited about the expected results from the ongoing Phase 3 TROPiCS-04 study that may serve to convert our U.S. accelerated approval to full approval for Trodelvy to treat patients with locally advanced or metastatic urothelial cancer following a platinum-containing chemotherapy and PD-1/PD-L1 inhibitor.” + +Longer-term follow-up across Cohorts 1, 2, and 3 of TROPHY-U-01 provides an increasing body of evidence supporting the potential benefit of treating mUC with Trodelvy across clinically relevant, hard-to-treat patient populations. Results are summarized below: + +Cohort + +Inclusion Criteria + +Key Findings + +Cohort 1 + +n=113 + +Patients with mUC who progressed after platinum-based chemotherapy and checkpoint inhibitor (CPI) therapy + +  + +Abstract 526 + +In new long-term follow-up results, Trodelvy continued to demonstrate efficacy: + +  + +Cohort 2 + +n=38 + +  + +Platinum-ineligible patients with mUC who progressed after CPI therapy + +  + +Abstract 520 + +In this primary analysis, Trodelvy demonstrated: + +Cohort 3 + +n=41 + +Patients with rapidly progressing mUC who progressed after platinum-based therapy + +  + +Abstract 518 + +In this primary analysis, Trodelvy plus pembrolizumab, demonstrated: + +  + +In April 2021, the U.S. FDA granted accelerated approval of Trodelvy for use in adult patients with locally advanced or mUC who have previously received a platinum-containing chemotherapy and either a PD-1 or PD-L1 inhibitor. This approval is based on ORR and DOR established in Cohort 1. + +Trodelvy has not been approved by any regulatory agency for the treatment of platinum-ineligible patients with mUC who progressed after prior CPI therapy, or in combination with pembrolizumab in patients with mUC who progressed after platinum-based therapy. Its safety and efficacy have not been established for these indications. + +Trodelvy has a Boxed Warning for severe or life-threatening neutropenia and severe diarrhea; please see below for additional Important Safety Information. + +About Metastatic Urothelial Cancer + +Urothelial Cancer (UC) is the most common type of bladder cancer and occurs when the urothelial cells that line the inside of the bladder and other parts of the urinary tract grow unusually or uncontrollably. An estimated 83,000 Americans will be diagnosed with bladder cancer in 20231, and almost 90% of those diagnoses will be UC2. In total, 30% of cases are considered advanced or metastatic disease.3 Despite advancements in treating mUC, long-term survival remains low. + +About the TROPHY U-01 Study + +The Phase 2 TROPHY-U-01 trial is an ongoing, international, multi-center, open-label, multi-cohort, single-arm study evaluating Trodelvy monotherapy or combination therapy in patients with mUC after progression on a platinum-based regimen and anti-PD-1/PD-L1-based immunotherapy. + +Cohort 1 is assessing Trodelvy after progression on platinum-based chemotherapy and checkpoint inhibitor (CPI) therapy. Cohorts 2, 3, 4 and 5 of the study are ongoing. Cohort 2 is assessing Trodelvy monotherapy in platinum-ineligible patients after progression on anti-PD-1/PD-L1-based immunotherapy. Cohort 3 is assessing Trodelvy in patients with rapidly progressing, mUC who progressed after platinum-based therapy. Cohorts 4 and 5 are assessing Trodelvy combination therapy in patients with treatment naive mUC, with those in Cohort 4 receiving cisplatin and those in Cohort 5 receiving cisplatin and avelumab, respectively, in addition to Trodelvy. + +More information about TROPHY is available at https://clinicaltrials.gov/ct2/show/NCT03547973. + +About Trodelvy + +Trodelvy® (sacituzumab govitecan-hziy) is a first-in-class Trop-2 directed antibody-drug conjugate. Trop-2 is a cell surface antigen highly expressed in multiple tumor types, including in more than 90% of breast and bladder cancers. Trodelvy is intentionally designed with a proprietary hydrolyzable linker attached to SN-38, a topoisomerase I inhibitor payload. This unique combination delivers potent activity to both Trop-2 expressing cells and the microenvironment. + +Trodelvy is approved in more than 40 countries, with multiple additional regulatory reviews underway worldwide, for the treatment of adult patients with unresectable locally advanced or metastatic triple-negative breast cancer (TNBC) who have received two or more prior systemic therapies, at least one of them for metastatic disease. + +Trodelvy is also approved in the U.S. to treat certain patients with pre-treated HR+/HER2- metastatic breast cancer and has an accelerated approval for treatment of certain patients with second-line metastatic urothelial cancer; see below for full indication statements. + +Trodelvy is also being developed for potential investigational use in other TNBC, HR+/HER2- and mUC populations, as well as a range of tumor types where Trop-2 is highly expressed, including metastatic non-small cell lung cancer (NSCLC), metastatic small cell lung cancer (SCLC), head and neck cancer, and endometrial cancer. + +U.S. Indications for Trodelvy + +In the United States, Trodelvy is indicated for the treatment of adult patients with: + +U.S. Important Safety Information for Trodelvy + +BOXED WARNING: NEUTROPENIA AND DIARRHEA + +CONTRAINDICATIONS + +WARNINGS AND PRECAUTIONS + +Neutropenia: Severe, life-threatening, or fatal neutropenia can occur and may require dose modification. Neutropenia occurred in 64% of patients treated with Trodelvy. Grade 3-4 neutropenia occurred in 49% of patients. Febrile neutropenia occurred in 6%. Neutropenic colitis occurred in 1.4%. Withhold Trodelvy for absolute neutrophil count below 1500/mm3 on Day 1 of any cycle or neutrophil count below 1000/mm3 on Day 8 of any cycle. Withhold Trodelvy for neutropenic fever. Administer G-CSF as clinically indicated or indicated in Table 1 of USPI. + +Diarrhea: Diarrhea occurred in 64% of all patients treated with Trodelvy. Grade 3-4 diarrhea occurred in 11% of patients. One patient had intestinal perforation following diarrhea. Diarrhea that led to dehydration and subsequent acute kidney injury occurred in 0.7% of all patients. Withhold Trodelvy for Grade 3-4 diarrhea and resume when resolved to ≤Grade 1. At onset, evaluate for infectious causes and if negative, promptly initiate loperamide, 4 mg initially followed by 2 mg with every episode of diarrhea for a maximum of 16 mg daily. Discontinue loperamide 12 hours after diarrhea resolves. Additional supportive measures (e.g., fluid and electrolyte substitution) may also be employed as clinically indicated. Patients who exhibit an excessive cholinergic response to treatment can receive appropriate premedication (e.g., atropine) for subsequent treatments. + +Hypersensitivity and Infusion-Related Reactions: Serious hypersensitivity reactions including life-threatening anaphylactic reactions have occurred with Trodelvy. Severe signs and symptoms included cardiac arrest, hypotension, wheezing, angioedema, swelling, pneumonitis, and skin reactions. Hypersensitivity reactions within 24 hours of dosing occurred in 35% of patients. Grade 3-4 hypersensitivity occurred in 2% of patients. The incidence of hypersensitivity reactions leading to permanent discontinuation of Trodelvy was 0.2%. The incidence of anaphylactic reactions was 0.2%. Pre-infusion medication is recommended. Have medications and emergency equipment to treat such reactions available for immediate use. Observe patients closely for hypersensitivity and infusion-related reactions during each infusion and for at least 30 minutes after completion of each infusion. Permanently discontinue Trodelvy for Grade 4 infusion-related reactions. + +Nausea and Vomiting: Nausea occurred in 64% of all patients treated with Trodelvy and Grade 3-4 nausea occurred in 3% of these patients. Vomiting occurred in 35% of patients and Grade 3-4 vomiting occurred in 2% of these patients. Premedicate with a two or three drug combination regimen (e.g., dexamethasone with either a 5-HT3 receptor antagonist or an NK1 receptor antagonist as well as other drugs as indicated) for prevention of chemotherapy-induced nausea and vomiting (CINV). Withhold Trodelvy doses for Grade 3 nausea or Grade 3-4 vomiting and resume with additional supportive measures when resolved to Grade ≤1. Additional antiemetics and other supportive measures may also be employed as clinically indicated. All patients should be given take-home medications with clear instructions for prevention and treatment of nausea and vomiting. + +Increased Risk of Adverse Reactions in Patients with Reduced UGT1A1 Activity: Patients homozygous for the uridine diphosphate-glucuronosyl transferase 1A1 (UGT1A1)*28 allele are at increased risk for neutropenia, febrile neutropenia, and anemia and may be at increased risk for other adverse reactions with Trodelvy. The incidence of Grade 3-4 neutropenia was 58% in patients homozygous for the UGT1A1*28, 49% in patients heterozygous for the UGT1A1*28 allele, and 43% in patients homozygous for the wild-type allele. The incidence of Grade 3-4 anemia was 21% in patients homozygous for the UGT1A1*28 allele, 10% in patients heterozygous for the UGT1A1*28 allele, and 9% in patients homozygous for the wild-type allele. Closely monitor patients with known reduced UGT1A1 activity for adverse reactions. Withhold or permanently discontinue Trodelvy based on clinical assessment of the onset, duration and severity of the observed adverse reactions in patients with evidence of acute early-onset or unusually severe adverse reactions, which may indicate reduced UGT1A1 function. + +Embryo-Fetal Toxicity: Based on its mechanism of action, Trodelvy can cause teratogenicity and/or embryo-fetal lethality when administered to a pregnant woman. Trodelvy contains a genotoxic component, SN-38, and targets rapidly dividing cells. Advise pregnant women and females of reproductive potential of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during treatment with Trodelvy and for 6 months after the last dose. Advise male patients with female partners of reproductive potential to use effective contraception during treatment with Trodelvy and for 3 months after the last dose. + +ADVERSE REACTIONS + +In the pooled safety population, the most common (≥ 25%) adverse reactions including laboratory abnormalities were decreased leukocyte count (84%), decreased neutrophil count (75%), decreased hemoglobin (69%), diarrhea (64%), nausea (64%), decreased lymphocyte count (63%), fatigue (51%), alopecia (45%), constipation (37%), increased glucose (37%), decreased albumin (35%), vomiting (35%), decreased appetite (30%), decreased creatinine clearance (28%), increased alkaline phosphatase (28%), decreased magnesium (27%), decreased potassium (26%), and decreased sodium (26%). + +In the ASCENT study (locally advanced or metastatic triple-negative breast cancer), the most common adverse reactions (incidence ≥25%) were fatigue, diarrhea, nausea, alopecia, constipation, vomiting, abdominal pain, and decreased appetite. The most frequent serious adverse reactions (SAR) (>1%) were neutropenia (7%), diarrhea (4%), and pneumonia (3%). SAR were reported in 27% of patients, and 5% discontinued therapy due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the ASCENT study were reduced neutrophils, leukocytes, and lymphocytes. + +In the TROPiCS-02 study (locally advanced or metastatic HR-positive, HER2-negative breast cancer), the most common adverse reactions (incidence ≥25%) were diarrhea, fatigue, nausea, alopecia, and constipation. The most frequent serious adverse reactions (SAR) (>1%) were diarrhea (5%), febrile neutropenia (4%), neutropenia (3%), abdominal pain, colitis, neutropenic colitis, pneumonia, and vomiting (each 2%). SAR were reported in 28% of patients, and 6% discontinued therapy due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the TROPiCS-02 study were reduced neutrophils and leukocytes. + +In the TROPHY study (locally advanced or metastatic urothelial cancer), the most common adverse reactions (incidence ≥25%) were diarrhea, fatigue, nausea, any infection, alopecia, decreased appetite, constipation, vomiting, rash, and abdominal pain. The most frequent serious adverse reactions (SAR) (≥5%) were infection (18%), neutropenia (12%, including febrile neutropenia in 10%), acute kidney injury (6%), urinary tract infection (6%), and sepsis or bacteremia (5%). SAR were reported in 44% of patients, and 10% discontinued due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the TROPHY study were reduced neutrophils, leukocytes, and lymphocytes. + +DRUG INTERACTIONS + +UGT1A1 Inhibitors: Concomitant administration of Trodelvy with inhibitors of UGT1A1 may increase the incidence of adverse reactions due to potential increase in systemic exposure to SN-38. Avoid administering UGT1A1 inhibitors with Trodelvy. + +UGT1A1 Inducers: Exposure to SN-38 may be reduced in patients concomitantly receiving UGT1A1 enzyme inducers. Avoid administering UGT1A1 inducers with Trodelvy. + +Please see full Prescribing Information, including BOXED WARNING. + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. + +Forward-Looking Statements + +This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead’s ability to initiate, progress or complete clinical trials within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional clinical trials, including those involving Trodelvy; uncertainties relating to regulatory applications for Trodelvy and related filing and approval timelines, including the risk that the FDA may not grant full approval for Trodelvy for use in adult patients with locally advanced or metastatic UC who have previously received a platinum-containing chemotherapy and either a PD-1 or PD-L1 inhibitor, and pending or potential applications for the treatment of metastatic TNBC, mUC, HR+/HER2- breast cancer, NSCLC, SCLC, head and neck cancer, endometrial cancer and other cancers, in the currently anticipated timelines or at all; Gilead’s ability to receive regulatory approvals for such indications in a timely manner or at all, and the risk that any such approvals may be subject to significant limitations on use; the possibility that Gilead may make a strategic decision to discontinue development of Trodelvy for such indications and as a result, Trodelvy may never be commercialized for these indications; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements. + +U.S. Prescribing Information for Trodelvy including BOXED WARNING, is available at www.gilead.com. + +Trodelvy, Gilead and the Gilead logo are trademarks of Gilead Sciences, Inc., or its related companies. + +For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. + +_________________________ + +1 Key Statistics for Bladder Cancer. The American Cancer Society. https://www.cancer.org/cancer/bladder-cancer/about/key-statistics.html. Last accessed February 6, 2023. +2 Bladder Cancer: An Introduction. The American Society of Clinical Oncology. https://www.cancer.net/cancer-types/bladder-cancer/introduction. Last accessed February 6, 2023. +3 Bladder Cancer Statistics. The American Society of Clinical Oncology. https://www.cancer.net/cancer-types/bladder-cancer/statistics. Last accessed February 6, 2023. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005947/en/ \ No newline at end of file diff --git a/news/GILD/2023.02.20/Gilead Sciences, Inc. - Trodelvy Demonstrates Positive Efficacy Treating Both Platinum-...txt b/news/GILD/2023.02.20/Gilead Sciences, Inc. - Trodelvy Demonstrates Positive Efficacy Treating Both Platinum-...txt new file mode 100644 index 0000000000000000000000000000000000000000..bba18b96edc232cf3abd57b5b612aa5b293bc238 --- /dev/null +++ b/news/GILD/2023.02.20/Gilead Sciences, Inc. - Trodelvy Demonstrates Positive Efficacy Treating Both Platinum-...txt @@ -0,0 +1 @@ +FOSTER CITY - Gilead Sciences, Inc. (Nasdaq: GILD) today announced new and updated positive results from three cohorts of the Phase 2 TROPHY-U-01 study of Trodelvy for the treatment of metastatic urothelial cancer.These data demonstrate that Trodelvy produced both rapid and durable responses for patients across a range of hard-to-treat types of mUC including platinum-ineligible and rapidly progressing, post-platinum mUC. These findings will be featured in both an oral session (abstract #520) and in poster presentations (abstract #518, #526) during the 2023 American Society of Clinical Oncology Genitourinary Cancers Symposium (ASCO-GU) Annual Meeting February 16-18.'The TROPHY-U-01 data show consistent benefit of Trodelvy across multiple types of metastatic urothelial cancer, including the most difficult-to-treat and, often times, frail patients where treatment options are still scarce,' said Bill Grossman, MD, PhD, Senior Vice President, Therapeutic Area Head, Gilead Oncology. 'Trodelvy has the potential to become a cornerstone treatment in metastatic urothelial cancer, and we are excited about the expected results from the ongoing Phase 3 TROPiCS-04 study that may serve to convert our U.S. accelerated approval to full approval for Trodelvy to treat patients with locally advanced or metastatic urothelial cancer following a platinum-containing chemotherapy and PD-1/PD-L1 inhibitor.'Longer-term follow-up across Cohorts 1, 2, and 3 of TROPHY-U-01 provides an increasing body of evidence supporting the potential benefit of treating mUC with Trodelvy across clinically relevant, hard-to-treat patient populations.In April 2021, the U.S. FDA granted accelerated approval of Trodelvy for use in adult patients with locally advanced or mUC who have previously received a platinum-containing chemotherapy and either a PD-1 or PD-L1 inhibitor. This approval is based on ORR and DOR established in Cohort 1.Trodelvy has not been approved by any regulatory agency for the treatment of platinum-ineligible patients with mUC who progressed after prior CPI therapy, or in combination with pembrolizumab in patients with mUC who progressed after platinum-based therapy. Its safety and efficacy have not been established for these indications.About Metastatic Urothelial CancerUrothelial Cancer (UC) is the most common type of bladder cancer and occurs when the urothelial cells that line the inside of the bladder and other parts of the urinary tract grow unusually or uncontrollably. An estimated 83,000 Americans will be diagnosed with bladder cancer in 20231, and almost 90% of those diagnoses will be UC2. In total, 30% of cases are considered advanced or metastatic disease.3 Despite advancements in treating mUC, long-term survival remains low.About the TROPHY U-01 StudyThe Phase 2 TROPHY-U-01 trial is an ongoing, international, multi-center, open-label, multi-cohort, single-arm study evaluating Trodelvy monotherapy or combination therapy in patients with mUC after progression on a platinum-based regimen and anti-PD-1/PD-L1-based immunotherapy.Cohort 1 is assessing Trodelvy after progression on platinum-based chemotherapy and checkpoint inhibitor (CPI) therapy. Cohorts 2, 3, 4 and 5 of the study are ongoing. Cohort 2 is assessing Trodelvy monotherapy in platinum-ineligible patients after progression on anti-PD-1/PD-L1-based immunotherapy. Cohort 3 is assessing Trodelvy in patients with rapidly progressing, mUC who progressed after platinum-based therapy. Cohorts 4 and 5 are assessing Trodelvy combination therapy in patients with treatment naive mUC, with those in Cohort 4 receiving cisplatin and those in Cohort 5 receiving cisplatin and avelumab, respectively, in addition to Trodelvy.About TrodelvyTrodelvy (sacituzumab govitecan-hziy) is a first-in-class Trop-2 directed antibody-drug conjugate. Trop-2 is a cell surface antigen highly expressed in multiple tumor types, including in more than 90% of breast and bladder cancers. Trodelvy is intentionally designed with a proprietary hydrolyzable linker attached to SN-38, a topoisomerase I inhibitor payload. This unique combination delivers potent activity to both Trop-2 expressing cells and the microenvironment.Trodelvy is approved in more than 40 countries, with multiple additional regulatory reviews underway worldwide, for the treatment of adult patients with unresectable locally advanced or metastatic triple-negative breast cancer (TNBC) who have received two or more prior systemic therapies, at least one of them for metastatic disease.Trodelvy is also being developed for potential investigational use in other TNBC, HR+/HER2- and mUC populations, as well as a range of tumor types where Trop-2 is highly expressed, including metastatic non-small cell lung cancer (NSCLC), metastatic small cell lung cancer (SCLC), head and neck cancer, and endometrial cancer.About Gilead SciencesGilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California.Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead's ability to initiate, progress or complete clinical trials within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional clinical trials, including those involving Trodelvy; uncertainties relating to regulatory applications for Trodelvy and related filing and approval timelines, including the risk that the FDA may not grant full approval for Trodelvy for use in adult patients with locally advanced or metastatic UC who have previously received a platinum-containing chemotherapy and either a PD-1 or PD-L1 inhibitor, and pending or potential applications for the treatment of metastatic TNBC, mUC, HR+/HER2- breast cancer, NSCLC, SCLC, head and neck cancer, endometrial cancer and other cancers, in the currently anticipated timelines or at all; Gilead's ability to receive regulatory approvals for such indications in a timely manner or at all, and the risk that any such approvals may be subject to significant limitations on use; the possibility that Gilead may make a strategic decision to discontinue development of Trodelvy for such indications and as a result, Trodelvy may never be commercialized for these indications and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements.Contact:Jacquie RossEmail: investorrelations@gilead.com(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/GILD/2023.02.21/Gilead Presents New Data From HIV Cure Research Program and Collaborations Exploring No...txt b/news/GILD/2023.02.21/Gilead Presents New Data From HIV Cure Research Program and Collaborations Exploring No...txt new file mode 100644 index 0000000000000000000000000000000000000000..f908a96a2cf9886b3873b3e6e5e1a950847352ae --- /dev/null +++ b/news/GILD/2023.02.21/Gilead Presents New Data From HIV Cure Research Program and Collaborations Exploring No...txt @@ -0,0 +1,79 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) today announced results from four collaborative studies evaluating novel investigational combinations and strategies with the potential to target the HIV viral reservoir or enhance immune response to maintain virologic control in the absence of antiretroviral therapy (ART). These latest findings represent an ongoing multi-pronged approach in Gilead’s HIV cure research program. The data were presented at the Conference on Retroviruses and Opportunistic Infections (CROI) 2023 in Seattle. + +Findings from the HIV cure research program include results from three studies evaluating strategies to maintain virologic control in the absence of ART. Results from the Phase 2a TITAN trial show that dual treatment with the broadly neutralizing HIV antibodies (bNAbs; 3BNC117 and 10-1074) led to a significant delay in viral rebound. A Phase 1/2 proof-of-concept study conducted by the University of California San Francisco, with support from Gilead Sciences and amfAR, The Foundation for AIDS Research, provides evidence that combination immunotherapy consisting of a vaccine, an immune modulator, and bNAbs (10-1074 and VRC07-523LS) may provide virologic control. A separate AELIX-003 Phase 2 trial showed that a combination of a vaccine and an immune modulator induced a strong T cell response. + +“The results from the TITAN study exemplify the progress that research partnerships can bring in the pursuit of a cure for HIV and demonstrate the potential of combination strategies to play a critical role in that effort,” said Ole Søgaard, MD, Professor in the Department of Infectious Diseases at Aarhus University in Denmark. “Additional clinical research into the potential of bNAbs is warranted and may help in the discovery of novel approaches that transform HIV management for patients.” + +A fourth pre-clinical study in a macaque model conducted in collaboration with Gritstone bio, Inc. showed that simian immunodeficiency virus (SIV) ChAd and samRNA vaccines in combination with immune modulators induced a strong immune response. + +“The insights generated by the studies presented at CROI this year are advancing scientific knowledge on potential paths to a cure for HIV and expanding global understanding of what role broadly neutralizing antibodies, vaccines, and immune modulators may play in the future of HIV for people living with the virus,” said Devi SenGupta, Executive Director, HIV Clinical Development, Gilead Sciences. “Gilead will continue exploring novel combination strategies in our pursuit to help end the HIV epidemic for everyone, everywhere.” + +Curing HIV remains the ultimate aspiration of Gilead’s HIV research and development efforts. Gilead has a comprehensive cure research and development program that is advancing with speed and conviction. As Gilead progresses further with testing investigational curative regimens, the company’s partnerships and collaborations are more important than ever in this complex effort. Gilead aims to ensure its research and development efforts contribute to the entire scientific community’s search for a cure. Gilead’s work to develop a cure for HIV is one part of the company’s larger role in the global efforts to end the HIV epidemic and part of its focus on person-centric innovation. + +HIV cure research studies presented at CROI include: + +Abstract Title + +Presentation + +#Number + +The impact of 3BNC117, 10-1074 and lefitolimod on HIV-1 persistence – the TITAN trial + +Oral + +#136 + +Heterologous ChAd/samRNA vaccine induces robust T-cell responses in macaques + +Poster + +#323 + +A placebo controlled randomized trial of the HTI immunogen vaccine and vesatolimod (Late-breaker) + +Poster + +#433 + +Rebound dynamics following immunotherapy with an HIV vaccine, TLR9 agonist, and bNAbs (late-breaker) + +Poster + +#435 + +Vesatolimod pharmacodynamic response is associated with time to HIV rebound (Late-breaker) + +Poster + +#437 + +Lefitolimod, vesatolimod, teropavimab, zinlirvimab, and the other experimental compounds noted are investigational and are not approved by the U.S. Food and Drug Administration or any other regulatory authority. Their safety and efficacy have not been established. + +There is no cure for HIV infection or AIDS. + +The TITAN trial (NCT03837756) was funded in part through the Gilead Cure Grants Program. For more information, please visit: https://clinicaltrials.gov/ct2/show/NCT03837756. + +About Gilead Sciences’ HIV Cure Research Program + +Curing HIV is a formidable challenge, but one that remains the focus and ultimate aspiration of Gilead’s HIV research and development efforts. We are mapping the path forward to a cure for HIV through close collaborations with industry, academic and community partners to ensure our research efforts can contribute to the entire scientific community’s search for a cure. Together with our partners, we are committed to helping end the epidemic by driving the next generation of cure strategies that will transform care and improve outcomes for all people living with HIV. + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases and address unmet needs in virology, oncology and inflammation. + +For 35 years, Gilead has been a leading innovator in the field of HIV, driving advances in treatment, prevention and cure research. Gilead researchers have developed 12 HIV medications, including the first single-tablet regimen to treat HIV, the first antiretroviral for pre-exposure prophylaxis (PrEP) to reduce the risk of acquiring HIV infection, and the first long-acting injectable HIV treatment medication administered twice-yearly. Our advances in medical research have helped to transform HIV into a treatable, preventable, chronic condition for millions of people. + +Gilead is committed to continued scientific innovation to provide solutions for the evolving needs of people affected by HIV around the world. Through partnerships and collaborations, the company also aims to improve education, expand access and address barriers to care, with the goal of ending the HIV epidemic for everyone, everywhere. Gilead was recognized as the number one philanthropic funder of HIV-related programs in a report released by Funders Concerned About AIDS. + +Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. + +Forward-Looking Statements + +This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead’s ability to initiate, progress or complete clinical trials or studies within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional clinical trials or studies, including those involving and other bNAbs, and experimental compounds of our partner; uncertainties relating to regulatory applications and related filing and approval timelines, and the risk that any regulatory approvals, if granted, may be subject to significant limitations on use; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements. + +Gilead and the Gilead logo are registered trademarks of Gilead Sciences, Inc., or its related companies. All other trademarks are the property of their respective owner(s). + +For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@Gilead Sciences) and LinkedIn, or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230220005346/en/ \ No newline at end of file diff --git "a/news/GILD/2023.02.21/Veklury\302\256 (Remdesivir) Reduced Risk of Mortality in Hospitalized COVID-19 Patients Acros...txt" "b/news/GILD/2023.02.21/Veklury\302\256 (Remdesivir) Reduced Risk of Mortality in Hospitalized COVID-19 Patients Acros...txt" new file mode 100644 index 0000000000000000000000000000000000000000..16c49637ab21f8094b2ff6cc16005cf518f1b6a7 --- /dev/null +++ "b/news/GILD/2023.02.21/Veklury\302\256 (Remdesivir) Reduced Risk of Mortality in Hospitalized COVID-19 Patients Acros...txt" @@ -0,0 +1,73 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) today announced positive data from three retrospective real-world studies which demonstrated that initiation of Veklury® (remdesivir) within the first two days of hospital admission can help reduce mortality and hospital readmission rates among all patients hospitalized with COVID-19, regardless of disease severity. A reduction in mortality was also observed in vulnerable populations, such as people living with cancer or HIV. These studies evaluated routine clinical practice data from more than 800 hospitals throughout the United States to gain insights on patient outcomes as COVID-19 continues to evolve over time. These data will be presented at the 30th Conference on Retroviruses and Opportunistic Infections (CROI). + +“Early treatment with remdesivir led to better patient outcomes regardless of the predominant circulating variant of concern. We see this risk reduction consistently across all oxygen levels and disease severity, including in immunocompromised patients. This is indeed a paradigm shift in the way we think about treating our most vulnerable patients,” said Chidinma Chima-Melton, study author and pulmonologist at UCLA Health, California, U.S.A. “Large studies utilizing real world clinical practice data are of great importance given the significant shifts that have occurred in the COVID-19 treatment landscape. These longitudinal analyses demonstrated the value of remdesivir in reducing mortality in all patients with COVID-19, and its positive impact on reducing readmission rates, which is an important consideration for hospitals.” + +Mortality Outcomes in Patients Hospitalized with COVID-19 + +Two studies analyzed clinical practice information from the U.S. Premier Healthcare databases of more than 500,000 adult patients hospitalized with COVID-19. The overall analysis examined all-cause inpatient mortality rates at 14- and 28- days and demonstrated that initiation of Veklury within the first two days of hospital admission was associated with a statistically significant lower risk for mortality in all oxygen levels compared to matched controls that did not receive Veklury during their hospitalization for COVID-19. For patients with no documented use of supplemental oxygen at baseline, treatment with Veklury was associated with a 19% (p<0.001) lower risk of mortality at Day 28. Patients on low-flow or high-flow oxygen also had a 21% (p<0.001) and 12% (p<0.001) lower risk of mortality at Day 28, respectively. Patients on invasive mechanical ventilation/ECMO at baseline had a 26% (p<0.001) reduced risk for mortality at Day 28. These findings were observed throughout all variant time periods, including Omicron, in patients who did not require supplemental oxygen and across all levels of supplemental oxygen use, including those on invasive mechanical ventilation (IMV)/ECMO. + +“The real-world evidence presented at CROI is based on an analysis of the clinical practice data of hospitalized patient populations to help assess the treatment effects of Veklury in both the overall patient population, as well as subsets of patients that are considered high-risk for severe disease from COVID-19, like immunocompromised patient populations,” said Frank Duff, MD, Senior Vice President, Virology Therapeutic Area Head, Gilead Sciences. “These analyses demonstrate the consistent efficacy of Veklury across variant time periods of the pandemic, including its effect on mortality and likelihood of hospital readmission.” + +The second analysis demonstrated that a reduction in mortality was also associated in vulnerable patient populations, such as patients with immunocompromised conditions, who can experience repeat infections and breakthrough infections. Results demonstrated that at Day 28 mortality results showed that timely initiation of Veklury treatment within two days of hospital admission was associated with an overall 25% significantly lower risk compared to non-Veklury across all variant time periods [pre-Delta (35%), Delta (21%), Omicron (16%)]. + +Readmission in Patients Hospitalized with COVID-19 + +A separate analysis found that hospitalized patients with COVID-19 treated with Veklury were also significantly less likely (27%) to be readmitted within 30 days to the same hospital. This finding was consistent across variant time periods of the pandemic. The lower rate of hospital readmission for patients treated with Veklury was observed even in patients who had higher supplemental oxygen requirements during initial hospitalization for COVID-19. + +In vitro Antiviral Activity Against Variants + +Based on in vitro analyses presented at CROI, Veklury retains potent antiviral activity against recent Omicron subvariants of concern, including XBB, BQ 1.1, BA.2.75, BA.4, BA 4.6 and BA.5. These data support the continued use of Veklury to treat patients with Omicron subvariants of SARS-CoV-2. Gilead continuously evaluates the activity of Veklury against new SARS-CoV-2 variants of concern as they emerge around the world. + +About Veklury Clinical and Real-World Evidence Studies + +Complementing randomized clinical trials (RCTs), this new real-world evidence (RWE) of hospitalized patients with COVID-19 further demonstrates the value of Veklury to clinicians and patients. The clinical benefits of Veklury in hospitalized patients have been established in multiple randomized, controlled Phase 3 clinical trials, including ACTT-1. In 2020, results from ACTT-1 demonstrated that in the overall study population of hospitalized patients with COVID-19, Veklury-treated patients showed a trend toward reduced mortality compared with placebo (11% vs. 15%, HR:0.73, 95% CI:0.52 to 1.03); however, this result was not statistically significant. + +While RCTs remain the best tool for assessing the efficacy and safety of a medicine, RWE provides important data on a treatment’s use in routine clinical practice that can complement data from RCTs. These studies take on greater incremental importance in a pandemic, where clinical management of a disease continues to evolve and can outpace the initiation of new clinical trials, and where frontline healthcare workers are eager to understand the effectiveness of treatments to guide and reinforce treatment decisions in real time. Such studies should be interpreted based on the type and size of the source datasets and the methodologies used to mitigate potential confounding or bias. Evidence from routine clinical practice needs to be considered in the context of all available data across the entire spectrum of patients, including different healthcare settings. + +The reduction in mortality associated with Veklury from these real-world analyses are consistent with previous analyses of real-world evidence conducted in 2021 which demonstrated improved survival among COVID-19 patients in the earlier phase of the pandemic. RWE analyses of Veklury from other sources are ongoing and may vary in their results or conclusions. + +About Gilead’s COVID-19 Development Program + +Veklury (remdesivir) is a nucleotide analog invented by Gilead, building on more than a decade of the company’s antiviral research. Veklury is a foundation for the treatment of hospitalized patients with COVID-19 and is a recommended treatment for reducing disease progression in non-hospitalized patients at high risk of disease progression. Veklury has an established safety profile and minimal known drug interactions in diverse populations. It can help reduce disease progression across a spectrum of disease severity and enable patients to recover faster, freeing up limited hospital resources and saving healthcare systems money. + +Veklury is approved in more than 50 countries worldwide. To date, Veklury and generic remdesivir have been made available to nearly 13 million patients around the world, including more than 8 million people in middle- and low-income countries through Gilead’s voluntary licensing program. These licenses currently remain royalty-free, reflecting Gilead’s existing commitment to enabling broad patient access to remdesivir. + +There remains a significant need to develop new and effective oral treatment options for people with COVID-19. Gilead is also working to advance an investigational oral nucleoside prodrug, GS-5245, that when metabolized forms the same active metabolite as remdesivir. + +U.S. Indication for Veklury + +Veklury® (remdesivir 100 mg for injection) is indicated for the treatment of COVID-19 in adults and pediatric patients (≥28 days old and weighing ≥3 kg) who are: + +For more information, please see the U.S. full Prescribing Information available at www.gilead.com. + +U.S. Important Safety Information for Veklury + +Contraindication + +Veklury is contraindicated in patients with a history of clinically significant hypersensitivity reactions to Veklury or any of its components. + +Warnings and precautions + +Adverse reactions + +Drug interactions + +Dosage and administration + +Pregnancy and lactation + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. + +Forward-Looking Statements + +This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead’s ability to initiate, progress or complete clinical trials within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional clinical trials, including those involving Veklury; uncertainties relating to regulatory applications and related filing and approval timelines, and the risk that any regulatory approvals, if granted, may be subject to significant limitations on use; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements. + +U.S. full Prescribing Information for Veklury is available at www.gilead.com. + +Veklury, Gilead and the Gilead logo are registered trademarks of Gilead Sciences, Inc., or its related companies. + +For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@Gilead Sciences) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230217005363/en/ \ No newline at end of file diff --git a/news/GILD/2023.02.22/GSK's ViiV says study shows its long-acting HIV shot as effective as Gilead's daily pil...txt b/news/GILD/2023.02.22/GSK's ViiV says study shows its long-acting HIV shot as effective as Gilead's daily pil...txt new file mode 100644 index 0000000000000000000000000000000000000000..5fbdbf8ccaacf6912fc741c9997505093ee5837c --- /dev/null +++ b/news/GILD/2023.02.22/GSK's ViiV says study shows its long-acting HIV shot as effective as Gilead's daily pil...txt @@ -0,0 +1 @@ +GSK's ViiV ran the so-called "head to-head" clinical study on its own injection Cabenuva, which is given every two months, and Gilead's Biktarvy, an oral pill taken daily.Analysts and investors are paying close attention to the future of GSK's HIV business as patents for treatments containing its core HIV compound, dolutegravir, begin to expire in 2028.Given existing HIV treatments effectively suppress the virus, the next frontier for pharma companies is introducing different mechanisms for delivering the drugs, such as injections, which some people living with HIV say they prefer to pills.Gilead, together with rival Merck & Co Inc, launched a study in 2021 that is testing a combination of its experimental HIV drugs to develop its own long-acting injection.GSK forecasts that sales from longer-acting HIV injections like Cabenuva will enable it to manage the loss of exclusivity from dolutegravir. It forecasts that by 2026, sales from its longer-acting medicines will generate around 2 billion pounds ($2.4 billion) in revenue, around one third of HIV sales.The 12-month clinical study involved 670 people living with HIV who prior to the study were virally suppressed and taking Gilead's Biktarvy. Two thirds of those people were switched to the Cabenuva injection, while the others remained on Biktarvy. The study met its primary goal of showing that Cabenuva was as effective as Biktarvy, while some 90% of the switchers said they preferred the long-acting regimen to the daily pill, ViiV said in a press release. Reasons given included that they did not have to remember to take a pill every day and did not have to be reminded of their HIV status every day, ViiV said."The future of HIV treatment and prevention is long-acting," Kimberly Smith, head of research and development at ViiV, told Reuters in an interview ahead of the study's publication. "We're to the point where we can improve (peoples') quality of life, because HIV is still a very stigmatized disease." Pfizer Inc and Shionogi & Co Ltd have small stakes in ViiV.($1 = 0.8267 pounds) (Reporting by Maggie Fick; Editing by Mark Potter)By Maggie Fick \ No newline at end of file diff --git a/news/GILD/2023.02.22/Gilead Presents Positive Proof-of-Concept Data for Investigational Combination Regimen ...txt b/news/GILD/2023.02.22/Gilead Presents Positive Proof-of-Concept Data for Investigational Combination Regimen ...txt new file mode 100644 index 0000000000000000000000000000000000000000..8d39bb58b3a4270de0e24d03bc12c45e557c4557 --- /dev/null +++ b/news/GILD/2023.02.22/Gilead Presents Positive Proof-of-Concept Data for Investigational Combination Regimen ...txt @@ -0,0 +1,69 @@ + +Gilead Sciences, Inc. (Nasdaq: GILD) today announced data evaluating lenacapavir in combination with broadly neutralizing antibodies (bNAbs) teropavimab and zinlirvimab as a potential long-acting treatment regimen with twice-yearly dosing. Results from the Phase 1b clinical trial demonstrated the investigational combination was generally well tolerated with high efficacy in select virologically suppressed participants living with HIV. These data were presented at the 30th Conference on Retroviruses and Opportunistic Infections (CROI). + +“Novel long-acting HIV treatment options will drive the next chapter in care and may help meet the therapy needs and preferences of people living with HIV. In this study we found that lenacapavir and bNAbs in a combination approach may have a significant role to play in the future treatment of HIV,” said Dr. Joseph Eron, MD, lead study investigator and the Chief of the Division of Infectious Diseases at the University of North Carolina School of Medicine. “As a clinician who strives to support the people living with the virus under my care, it will be exciting to continue evaluating the combination regimen as a potential twice-yearly long-acting HIV treatment option.” + +The study evaluated the safety and efficacy profile of lenacapavir + teropavimab + zinlirvimab in selected adults living with HIV who were virologically suppressed (HIV-1 RNA <50 copies/mL) for ≥2 years while taking antiretroviral therapy (ART). Study participants (n=20) were sensitive to both bNAbs by HIV proviral DNA phenotype and had a CD4 cell count of ≥500 at study entry. The median age was 44 years (14% female, 14% Black, 14% Asian, and 33% Hispanic/Latinx). + +Doses of teropavimab and zinlirvimab were weight-based, with participants randomly allocated in a 1:1 ratio into two active treatment groups replacing their baseline ART with lenacapavir (927mg subcutaneous after oral loading) + teropavimab (30mg/kg body weight intravenous) + zinlirvimab (Group 1: 10mg/kg body weight; Group 2: 30mg/kg body weight, both intravenous). + +At Week 26, 90% of participants receiving the complete study regimen (n=18/20) maintained virologic suppression (HIV-1 RNA ≤50 copies/mL). At Week 12, one participant withdrew from the study with documented viral suppression (HIV-1 RNA <50 copies/mL). At Week 16, one participant had a confirmed virologic rebound and later resuppressed on baseline oral ART. There were no serious adverse events (AEs), including no grade 4 or 5 AEs, and no AEs that led to study drug discontinuation. Two participants experienced grade 3 AEs with one experiencing injection site cellulitis and the other experiencing injection site erythema. + +“We’re excited to share these promising results that reinforce lenacapavir’s potential to be a foundational agent for long-acting combination HIV treatment options, and we are especially pleased to see the potential of the combination of lenacapavir plus bNAbs dosed once every six months,” said Jared Baeten, MD, PhD, Vice President, HIV Clinical Development, Gilead Sciences. “We are committed to exploring novel therapy approaches that may help deliver care for all people living with HIV, with a focus on developing person-centric options that fit into the diverse lives of people living with the virus, as we continue in our pursuit of ending the HIV epidemic for everyone, everywhere.” + +The combination of lenacapavir with teropavimab and zinlirvimab will advance to a Phase 2 study (NCT05729568) later this year in virologically suppressed people living with HIV. The study will assess two different dose levels of the bNAbs and assess safety and efficacy of the regimen in participants followed longitudinally for multiple doses of the study regimen. For more information, please visit: https://clinicaltrials.gov/ct2/show/NCT05729568 + +Lenacapavir is being developed as a foundation for future HIV therapies with the goal of offering both long-acting oral and injectable options with several dosing frequencies, in combination with other antiretroviral agents for treatment or as monotherapy for prevention, that help address individual patient needs and preferences. Lenacapavir is being evaluated as a long-acting option in multiple ongoing and planned early and late-stage clinical studies in Gilead's prevention and treatment research program. + +Sunlenca® (lenacapavir), alone or in combination, is not approved by any regulatory authority outside of the United States, United Kingdom, Canada or the European Union for any use. + +Please see below for the U.S. Indication and Important Safety Information for Sunlenca. + +Teropavimab (GS-2872) and zinlirvimab (GS-5423) are investigational compounds and are not approved by the U.S. Food and Drug Administration or any other regulatory authority for any use. The use of these compounds in combination with lenacapavir are investigational. Their safety and efficacy are unknown. + +There is currently no cure for HIV or AIDS. + +About Sunlenca + +Sunlenca (300 mg tablet and 463.5 mg/1.5 mL injection) [(lenacapavir)] is a first-in-class, long-acting HIV capsid inhibitor approved in the United States, the United Kingdom, Canada and the European Union, for the treatment of HIV infection, in combination with other antiretroviral(s), in people with multi-drug resistant HIV who are heavily treatment-experienced. Sunlenca tablets are approved for oral loading during initiation of Sunlenca treatment, prior to or at the time of the first long-acting lenacapavir injection depending on initiation option. Sunlenca is the only HIV treatment option administered twice-yearly. + +The multi-stage mechanism of action of Sunlenca’s active pharmaceutical agent, lenacapavir, is distinguishable from other currently approved classes of antiviral agents. While most antivirals act on just one stage of viral replication, Sunlenca is designed to inhibit HIV at multiple stages of its lifecycle and has no known cross resistance exhibited in vitro to other existing drug classes. + +U.S. Indication for Sunlenca + +Sunlenca, a human immunodeficiency virus type 1 (HIV-1) capsid inhibitor, in combination with other antiretroviral(s), is indicated for the treatment of HIV-1 infection in heavily treatment-experienced adults with multidrug resistant HIV-1 infection failing their current antiretroviral regimen due to resistance, intolerance, or safety considerations. + +U.S. Important Safety Information for Sunlenca + +Contraindications + +Warnings and precautions + +Adverse reactions + +Drug interactions + +Dosage and administration + +Pregnancy and lactation + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases and address unmet needs in virology, oncology and inflammation. + +For 35 years, Gilead has been a leading innovator in the field of HIV, driving advances in treatment, prevention and cure research. Gilead researchers have developed 12 HIV medications, including the first single-tablet regimen to treat HIV, the first antiretroviral for pre-exposure prophylaxis (PrEP) to reduce the risk of acquiring HIV infection, and the first long-acting injectable HIV treatment medication administered twice-yearly. Our advances in medical research have helped to transform HIV into a treatable, preventable, chronic condition for millions of people. + +Gilead is committed to continued scientific innovation to provide solutions for the evolving needs of people affected by HIV around the world. Through partnerships and collaborations, the company also aims to improve education, expand access and address barriers to care, with the goal of ending the HIV epidemic for everyone, everywhere. Gilead was recognized as the number one philanthropic funder of HIV-related programs in a report released by Funders Concerned About AIDS. + +Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. + +Forward-Looking Statements + +This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead’s ability to initiate, progress or complete clinical trials or studies within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional clinical trials or studies, including those involving lenacapavir, teropavimab and zinlirvimab; uncertainties relating to regulatory applications and related filing and approval timelines, and the risk that any regulatory approvals, if granted, may be subject to significant limitations on use; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements. + +U.S. full Prescribing Information for Sunlenca is available at www.gilead.com. + +Sunlenca, Gilead and the Gilead logo are registered trademarks of Gilead Sciences, Inc., or its related companies. All other trademarks are the property of their respective owner(s). + +For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@Gilead Sciences) and LinkedIn, or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230222005741/en/ \ No newline at end of file diff --git a/news/GILD/2023.02.22/Gilead Sciences, Inc. - Veklury Reduced Risk of Mortality in Hospitalized COVID-19 Pati...txt b/news/GILD/2023.02.22/Gilead Sciences, Inc. - Veklury Reduced Risk of Mortality in Hospitalized COVID-19 Pati...txt new file mode 100644 index 0000000000000000000000000000000000000000..364eb407ed7b5b4be6130f472b71f83dbede4d73 --- /dev/null +++ b/news/GILD/2023.02.22/Gilead Sciences, Inc. - Veklury Reduced Risk of Mortality in Hospitalized COVID-19 Pati...txt @@ -0,0 +1 @@ +FOSTER CITY - Gilead Sciences, Inc. (Nasdaq: GILD) today announced positive data from three retrospective real-world studies which demonstrated that initiation of Veklury (remdesivir) within the first two days of hospital admission can help reduce mortality and hospital readmission rates among all patients hospitalized with COVID-19, regardless of disease severity.A reduction in mortality was also observed in vulnerable populations, such as people living with cancer or HIV. These studies evaluated routine clinical practice data from more than 800 hospitals throughout the United States to gain insights on patient outcomes as COVID-19 continues to evolve over time. These data will be presented at the 30th Conference on Retroviruses and Opportunistic Infections (CROI).'Early treatment with remdesivir led to better patient outcomes regardless of the predominant circulating variant of concern. We see this risk reduction consistently across all oxygen levels and disease severity, including in immunocompromised patients. This is indeed a paradigm shift in the way we think about treating our most vulnerable patients,' said Chidinma Chima-Melton, study author and pulmonologist at UCLA Health, California, U.S.A. 'Large studies utilizing real world clinical practice data are of great importance given the significant shifts that have occurred in the COVID-19 treatment landscape. These longitudinal analyses demonstrated the value of remdesivir in reducing mortality in all patients with COVID-19, and its positive impact on reducing readmission rates, which is an important consideration for hospitals.'Mortality Outcomes in Patients Hospitalized with COVID-19Two studies analyzed clinical practice information from the U.S. Premier Healthcare databases of more than 500,000 adult patients hospitalized with COVID-19. The overall analysis examined all-cause inpatient mortality rates at 14- and 28- days and demonstrated that initiation of Veklury within the first two days of hospital admission was associated with a statistically significant lower risk for mortality in all oxygen levels compared to matched controls that did not receive Veklury during their hospitalization for COVID-19. For patients with no documented use of supplemental oxygen at baseline, treatment with Veklury was associated with a 19% (p(C) 2023 Electronic News Publishing, source ENP Newswire \ No newline at end of file diff --git a/news/GILD/2023.02.22/Kite Completes Acquisition of Tmunity.txt b/news/GILD/2023.02.22/Kite Completes Acquisition of Tmunity.txt new file mode 100644 index 0000000000000000000000000000000000000000..b69dd753ec5b7340cd49cf42ce50478a1106684b --- /dev/null +++ b/news/GILD/2023.02.22/Kite Completes Acquisition of Tmunity.txt @@ -0,0 +1,25 @@ + +Kite, a Gilead Company (NASDAQ: GILD), today announced the completion of the previously announced transaction to acquire Tmunity Therapeutics (Tmunity), a clinical-stage, private biotech company focused on next-generation CAR T-therapies and technologies. + +The acquisition of Tmunity complements Kite’s existing in-house cell therapy research capabilities by adding additional pipeline assets, platform capabilities, and a strategic research and licensing agreement with the University of Pennsylvania (Penn). It will provide Kite with access to pre-clinical and clinical programs, including an ‘armored’ CAR T technology platform, which potentially could be applied to a variety of CAR T’s to enhance anti-tumor activity, as well as rapid manufacturing processes. In addition, as part of the acquisition, the Tmunity founders, who remain in their roles at Penn, will also provide consulting services to Kite as senior scientific advisors. + +University of Pennsylvania Relationship + +The University of Pennsylvania’s Carl June, Bruce Levine, James Riley, Anne Chew were each individual equity holders in Tmunity and are now paid scientific advisors to Kite. Penn was also an equity holder in Tmunity. Penn received sponsored research funding from Tmunity, and now will receive sponsored research funding from Kite following today’s close. As inventors of some of the licensed technology, Drs. June, Levine, Riley, and Chew, along with Penn, may receive additional financial benefits under the license in the future. + +About Kite + +Kite, a Gilead Company, is a global biopharmaceutical company based in Santa Monica, California, focused on cell therapy to treat and potentially cure cancer. As the global cell therapy leader, Kite has treated more patients with CAR T-cell therapy than any other company. Kite has the largest in-house cell therapy manufacturing network in the world, spanning process development, vector manufacturing, clinical trial supply and commercial product manufacturing. For more information on Kite, please visit www.kitepharma.com. Follow Kite on social media on Twitter (@KitePharma) and LinkedIn. + +About Gilead Sciences + +Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. Gilead Sciences acquired Kite in 2017. + +Gilead Forward-looking Statements + +This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including risk that Gilead and Kite may not realize the expected benefits of this transaction, including the ability of Kite to further advance assets acquired from Tmunity through the strategic research and licensing agreement with Penn or otherwise; difficulties or unanticipated expenses in connection with the acquisition and the integration; the potential effect of any of the foregoing on Gilead and Kite’s earnings; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead and Kite, and Gilead and Kite assume no obligation and disclaim any intent to update any such forward-looking statements. + +Kite, the Kite logo and GILEAD are trademarks of Gilead Sciences, Inc. or its related companies. + +For more information on Kite, please visit the company’s website at www.kitepharma.com. Follow Kite on social media on Facebook, Twitter (@KitePharma), LinkedIn and YouTube. +View source version on businesswire.com: https://www.businesswire.com/news/home/20230222005588/en/ \ No newline at end of file diff --git a/news/GOOG/2023.01.02/SpaceX to raise $750 million at $137 billion valuation - CNBC.txt b/news/GOOG/2023.01.02/SpaceX to raise $750 million at $137 billion valuation - CNBC.txt new file mode 100644 index 0000000000000000000000000000000000000000..d0a923ed70e5ae7b312061eef279b8c221652645 --- /dev/null +++ b/news/GOOG/2023.01.02/SpaceX to raise $750 million at $137 billion valuation - CNBC.txt @@ -0,0 +1 @@ +Reuters had reported in November that SpaceX was in talks about an offering of mostly secondary shares that could value the company at up to $150 billion, representing a 20% increase in valuation.SpaceX, which counts Alphabet Inc and Fidelity Investments among its investors, had raised about $1.68 billion through equity financing in June. Spokespersons for SpaceX and Horowitz did not immediately respond to Reuters' requests for comment. Horowitz was also a co-investor in Musk's Twitter buyout deal worth $44 billion.SpaceX has launched numerous cargo payloads and astronauts to the International Space Station for the National Aeronautics and Space Administration (NASA).Starlink, SpaceX's growing network of thousands of internet satellites, is looking at generating major revenue with commercialized applications such as the rollout of high-speed internet on commercial airlines.SpaceX competes with Amazon.com founder Jeff Bezos's space venture Blue Origin and billionaire Richard Branson's Virgin Galactic. (Reporting by Aarati Krishna in Bengaluru; Editing by Sohini Goswami) \ No newline at end of file diff --git a/news/GOOG/2023.01.03/Apple's stock market value falls below $2 trillion.txt b/news/GOOG/2023.01.03/Apple's stock market value falls below $2 trillion.txt new file mode 100644 index 0000000000000000000000000000000000000000..28c021fd1f0e352f68f639594669f39b73f37c73 --- /dev/null +++ b/news/GOOG/2023.01.03/Apple's stock market value falls below $2 trillion.txt @@ -0,0 +1,35 @@ +Jan 3 (Reuters) - Apple Inc's stock market +value shrank sharply on Tuesday following its steep drop last +year, leaving it below $2 trillion for the first time since +March 2021.The sell-off came a year after the iPhone maker became the +first company to reach the $3 trillion market capitalization +milestone.Apple's shares declined 3.7% to $125.07 after Exane BNP +Paribas analyst Jerome Ramel downgraded the company to "neutral" +from "outperform," slashing his price target to $140 from $180, +according to Refinitiv Eikon.Also exacerbating investors' worries that a slowing +global economy and high inflation may be hurting demand for +Apple devices, Nikkeireported, citing unnamed suppliers, that Apple has told suppliers to +manufacture fewer parts for its ear buds, watches and laptops.The drop in Apple's share price put its market +capitalization at $1.99 trillion.Ramel cut his iPhone shipment targets for fiscal 2023 to 224 +million units from 245 million units, reflecting supply chain +issues from manufacturer Foxconn and consumers cutting back +spending on high-end phones.At Apple's current stock price, the company's value is just +ahead of Microsoft Corp, valued at about $1.8 trillion.With investors worried about consumer demand, analysts on +average expect the Cupertino, California company to report a 1% +drop in December-quarter revenue in the coming weeks, according +to Refinitiv. That would mark Apple's first quarterly revenue +decline since the March quarter of 2019."They (Apple) tend to skew to the high-end consumer device +customer but even that demographic might be being affected by +the high price of everything," Bokeh Capital Partners' Kim +Forrest said.Last year's steep sell-off on Wall Street punished +tech-related heavyweights as investors worried about rising +interest rates dumped stocks with high valuations.The combined stock market value of Apple, Microsoft, +Amazon.com Inc, Alphabet Inc and Meta +Platforms now accounts for about 18% of the S&P 500, +down from as much as 24% in 2020.Even after its 27% drop last year, Apple has provided +stellar returns to long-term shareholders. Investors who bought +and held Apple shares when cofounder Steve Jobs launched the +iPhone in 2007 have enjoyed a gain of over 4,000%, not including +dividends, compared to a 180% gain in the S&P 500 over the same +period.(Reporting by Nivedita Balu in Bengaluru; Editing by Arun +Koyyur and Richard Chang) \ No newline at end of file diff --git a/news/GOOG/2023.01.03/Google alleges India antitrust body copied parts of EU order on Android abuse.txt b/news/GOOG/2023.01.03/Google alleges India antitrust body copied parts of EU order on Android abuse.txt new file mode 100644 index 0000000000000000000000000000000000000000..80dccdf261ea6bd1887dd351a173b2405b5a5117 --- /dev/null +++ b/news/GOOG/2023.01.03/Google alleges India antitrust body copied parts of EU order on Android abuse.txt @@ -0,0 +1,46 @@ +(Repeats story published earlier. No change to text.)*India antitrust rulings latest setback for Google in key +market*Google wants Indian antitrust decisions to be quashed*Indian watchdog copied parts of EU order, Google alleges*Google says its conduct is not anti-competitive - filingNEW DELHI, Jan 3 (Reuters) - Google has told a tribunal +in India that the country's antitrust investigators copied parts +of a European ruling against the U.S. firm for abusing the +market dominance of its Android operating system, arguing the +decision be quashed, legal papers show.The Competition Commission of India (CCI) in October fined +Alphabet Inc's Google $161 million for exploiting its +dominant position in markets such as online search and the +Android app store, and asked it to change restrictions imposed +on smartphone makers related to pre-installing apps.Sources told Reuters in October that Google was worried +about the Indian decision as the remedies ordered were seen as +more sweeping than the European Commission's landmark 2018 +ruling for imposing unlawful restrictions on Android mobile +device makers. Google has challenged a record 4.1-billion-euro +($4.3 billion) fine in that case.In its filing to an Indian appeals tribunal, Google argues +the CCI's investigation unit "copy-pasted extensively from a +European Commission decision, deploying evidence from Europe +that was not examined in India"."There are more than 50 instances of copypasting", in some +cases "word-for-word", and the watchdog erroneously dismissed +the issue, Google said in its filing which is not public but has +been reviewed by Reuters."The Commission failed to conduct an impartial, balanced, +and legally sound investigation ... Google's mobile app +distribution practices are pro-competitive and not unfair/ +exclusionary."Spokespeople for the CCI and European Commission did not +immediately respond to requests for comment.Google said in a statement it decided to appeal the CCI's +decision as it believes "it presents a major setback for +our Indian users and businesses". It did not comment on the +copy-pasting allegations in its filing.Google has asked the tribunal to quash the CCI's order, and +the case will be heard on Wednesday.The Indian competition ruling came as Google faces increased +antitrust scrutiny the world over. Google licenses its Android +system to smartphone makers, but critics say it imposes +restrictions that are anti-competitive.The U.S. firm says Android has created more choice for +everyone and such agreements help keep the operating system +free. In Europe, 75% of 550 million smartphones run on Android, +compared with 97% of 600 million devices in India, Counterpoint +Research estimates.The CCI ruled in October that Google's licensing of its Play +Store "shall not be linked with the requirement of +pre-installing" Google search services, the Chrome browser, +YouTube or any other Google applications.In its appeal, Google alleges the CCI only found antitrust +infringements related to the Google search app, Chrome browser +and YouTube, but its order "extends beyond" that.Separately, Google has also appealed against another Indian +antitrust decision where it was fined $113 million for +restricting the use of third-party billing or payment processing +services in India. The appeal is yet to be heard.($1 = 0.9493 euros) +(Reporting by Aditya Kalra and Munsif Vengattil; Additional +reporting by Arpan Chaturvedi; Editing by Mark Potter) \ No newline at end of file diff --git "a/news/GOOG/2023.01.03/Google alleges indian antitrust body copied parts of eu decision\342\200\246.txt" "b/news/GOOG/2023.01.03/Google alleges indian antitrust body copied parts of eu decision\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..1e375afce4ab3bd351e0b9c53b919c6927456841 --- /dev/null +++ "b/news/GOOG/2023.01.03/Google alleges indian antitrust body copied parts of eu decision\342\200\246.txt" @@ -0,0 +1 @@ +GOOGLE ALLEGES INDIAN ANTITRUST BODY COPIED PARTS OF EU DECISION ON ANDROID ABUSE - LEGAL FILING \ No newline at end of file diff --git "a/news/GOOG/2023.01.03/Google seeks to quash indian antitrust ruling on android abuse,\342\200\246.txt" "b/news/GOOG/2023.01.03/Google seeks to quash indian antitrust ruling on android abuse,\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..82f1aafa1e3bfa272fd6a9bf8605602006ab8be5 --- /dev/null +++ "b/news/GOOG/2023.01.03/Google seeks to quash indian antitrust ruling on android abuse,\342\200\246.txt" @@ -0,0 +1 @@ +GOOGLE SEEKS TO QUASH INDIAN ANTITRUST RULING ON ANDROID ABUSE, SAYS PROBE NOT CONDUCTED IMPARTIALLY - FILING \ No newline at end of file diff --git a/news/GOOG/2023.01.03/Internet providers warn against EU plans to make Big Tech cover telcos costs.txt b/news/GOOG/2023.01.03/Internet providers warn against EU plans to make Big Tech cover telcos costs.txt new file mode 100644 index 0000000000000000000000000000000000000000..b399a521679ce652d9b4b198359aaace8f66b951 --- /dev/null +++ b/news/GOOG/2023.01.03/Internet providers warn against EU plans to make Big Tech cover telcos costs.txt @@ -0,0 +1 @@ +Telecom operators have been pushing the European Union to implement new laws that would see U.S. tech firms like Alphabet's Google, Meta's Facebook, and Netflix bear some of the costs of Europe's telecoms network, arguing that they drive much of the region's internet traffic. In September, European Commission's industry chief Thierry Breton said he would launch a consultation on so-called "fair share" payments in early 2023, before proposing legislation.Now, the European Internet Exchange Association (Euro-IX) said the proposals risked reducing the quality of service for internet users across Europe, and could "accidentally create new systemic weaknesses" in critical infrastructure, in a letter addressed to the European Commission's industry chief Thierry Breton and the Executive Vice President Margrethe Vestager. "The internet is a complex ecosystem, and it is policy-makers who are ultimately responsible for systemic effects resulting from policy choices," wrote Bijal Sanghani, managing director of Euro-IX. Sanghani added that legislators should not prioritise "administrative rules [over] technical necessity or a high-quality internet" for those in Europe.Critics of the proposed SPNP (Sending Party Network Pays) model have warned the so-called "traffic tax" could lead content-driven platforms like Facebook and other social media platforms to route their services via ISPs (internet service providers) outside of the EU. This could have a knock-on effect for users in Europe, with platforms potentially compromising quality and security for the sake of avoiding fees. Alternatively, they could pay the fees, but pass the costs onto end-users. Opponents also argue the proposals undermine the bloc's rules on net neutrality, under which ISPs cannot block or throttle traffic to prioritise some services over others.In June, a coalition of digital rights activists warned that introducing SPNP rules "would undermine and conflict with core net neutrality protections" in the European Union. In a letter signed by 34 NGOs from 17 countries, critics said telecom companies were already compensated by their own customers, and accused them of pushing for charges on traffic usage because "they simply want to be paid twice for the same service". The European Commission was not immediately available for comment. (Reporting by Martin Coulter; Editing by Raissa Kasolowsky)By Martin Coulter \ No newline at end of file diff --git a/news/GOOG/2023.01.03/Microsoft aims for AI-powered version of Bing - The Information.txt b/news/GOOG/2023.01.03/Microsoft aims for AI-powered version of Bing - The Information.txt new file mode 100644 index 0000000000000000000000000000000000000000..14cb1e79ac3d7d3eefc2c837a7e3471b99a1d51d --- /dev/null +++ b/news/GOOG/2023.01.03/Microsoft aims for AI-powered version of Bing - The Information.txt @@ -0,0 +1,21 @@ +Jan 3 (Reuters) - Microsoft Corp is in the +works to launch a version of its search engine Bing using the +artificial intelligence behind OpenAI-launched chatbot ChatGPT, +The Information reported on Tuesday, citing two people with +direct knowledge of the plans.Microsoft could launch the new feature before the end of +March, and hopes to challenge Alphabet-owned search engine +Google,the San Francisco-based technology news website +said in a report.Microsoft said in a blog post last year that it planned to +integrate image-generation software from OpenAI, DALL-E 2, into +Bing.OpenAI and Microsoft declined to comment.Microsoft had in 2019 backed San Francisco-based artificial +intelligence company OpenAI, offering $1 billion in funding. The +two had formed a multi-year partnership to develop artificial +intelligence supercomputing technologies on Microsoft's Azure +cloud computing service.OpenAI made its latest creation ChatGPT chatbot available +for free public testing on Nov. 30. The chatbot is a software +application designed to mimic human-like conversation based on +user prompts and can respond to a large range of questions while +imitating human speaking styles. +(Reporting by Rishabh Jaiswal and in Bengaluru; Additional +reporting by Lavanya Ahire in Bengaluru; Editing by Jacqueline +Wong and Dhanya Ann Thoppil) \ No newline at end of file diff --git a/news/GOOG/2023.01.03/SpaceX valued at $137 bln in new funding: CNBC.txt b/news/GOOG/2023.01.03/SpaceX valued at $137 bln in new funding: CNBC.txt new file mode 100644 index 0000000000000000000000000000000000000000..b4ed2c014c328e0b4b66b6772a6b4f340cf2fb29 --- /dev/null +++ b/news/GOOG/2023.01.03/SpaceX valued at $137 bln in new funding: CNBC.txt @@ -0,0 +1 @@ +That was according to reports late Monday (January 2) by CNBC. Elon Musk's rocket firm, which counts Google-parent Alphabet among its investors, raised nearly $1.7 billion back in June. Backers in the new round reportedly include investor Andreessen Horowitz, which also put money into Musk's Twitter buyout deal. Spokespersons for SpaceX and Horowitz did not respond to requests for comment on the new reports. The rocket company has launched numerous cargo payloads and astronauts to the International Space Station. Its Starlink unit operates thousands of satellites providing internet services from orbit. It's looking to generate revenue from applications such as providing high-speed internet to airlines. SpaceX competes with private rivals including Amazon-founder Jeff Bezos's Blue Origin. \ No newline at end of file diff --git a/news/GOOG/2023.01.03/Wall St falters at start of 2023 as Apple, Tesla shares fall.txt b/news/GOOG/2023.01.03/Wall St falters at start of 2023 as Apple, Tesla shares fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..d3f0e45b6d7f4890a1674fba9edffe724ead0598 --- /dev/null +++ b/news/GOOG/2023.01.03/Wall St falters at start of 2023 as Apple, Tesla shares fall.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tesla drops on Q4 deliveries miss*Apple hits lowest since June 2021*Indexes down: Dow 0.58%, S&P 0.85%, Nasdaq 1.26%Jan 3 (Reuters) - Wall Street's main indexes dropped on +the first trading day of 2023 due to heavy losses in Tesla and +Apple, while investors awaited minutes from the last policy +meeting of the Federal Reserve for more clarity on the path of +interest rate hikes.The electric-vehicle maker fell 13.7% after missing +Wall Street estimates for quarterly deliveries and iPhone maker +Apple Inc dropped 3.9% to its lowest since June 2021 +following a rating downgrade due to production cuts in China.Consumer discretionary and technology stocks +slipped more than 1% each.The energy sector, which logged stellar gains in +2022, slid 2.7%, tracking lower oil prices on bleak business +activity data from China and concerns about the outlook for the +global economy amid recession worries..Other rate-sensitive technology and growth stocks such as +Alphabet Inc, Meta Platforms Inc and +Amazon.com Inc were up between 0.9% and 2.9%."The market, like today, is not very much about fundamentals +or news, it's more about the emotion of a start of a new year +and investors trying to decide if a recovery is in front of +them," said Rick Meckler, partner at Cherry Lane Investments in +New Vernon, New Jersey."Given last year's weak performance, I would certainly +expect a better year ahead."The main stock indexes ended 2022 with their steepest annual +losses since 2008 following the Fed's fastest pace of rate hikes +since the 1980s to stamp out decades-high inflation.The S&P 500 shed 19.4% in 2022, marking a roughly $8 +trillion decline in market capitalization, while the Nasdaq fell +33.1%, dragged down by growth stocks.Investors on Wednesday will closely monitor the minutes of +the Fed's December policy meeting, when the central bank raised +interest rates by 50 basis points after four straight 75-bps +hikes and signaled rates could stay higher for longer.Other economic data due this week includes December's jobs +report and the ISM manufacturing report.Weakness in the labor market could give the Fed a reason to +ease its monetary policy tightening, but the data so far has +shown that the market remains tight despite interest rate hikes.Money market participants see a 68% chance the Fed will +raise the benchmark rate by 25 bps to 4.50%-4.75% in February, +with the rates peaking at 4.98% by June.At 12:17 p.m. ET, the Dow Jones Industrial Average +was down 190.79 points, or 0.58%, at 32,956.46, the S&P 500 +was down 32.46 points, or 0.85%, at 3,807.04, and the +Nasdaq Composite was down 131.84 points, or 1.26%, at +10,334.64.U.S.-listed Chinese firms such as Alibaba Group Holding Ltd +, JD.com Inc, Pinduoduo Inc rose between +1% and 4% on post-COVID recovery hopes.Advancing issues outnumbered decliners by a 1.16-to-1 ratio +on the NYSE and by a 1.08-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week highs and 5 new lows, +while the Nasdaq recorded 80 new highs and 32 new lows. +(Reporting by Shubham Batra, Ankika Biswas and Amruta Khandekar +in Bengaluru; Editing by Shounak Dasgupta and Arun Koyyur) \ No newline at end of file diff --git a/news/GOOG/2023.01.03/Wall Street drops as Apple, energy stocks weigh.txt b/news/GOOG/2023.01.03/Wall Street drops as Apple, energy stocks weigh.txt new file mode 100644 index 0000000000000000000000000000000000000000..f10d89f87367091f9727156ec418d5f3a9740642 --- /dev/null +++ b/news/GOOG/2023.01.03/Wall Street drops as Apple, energy stocks weigh.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Tesla falls as quarterly deliveries miss estimates*China ADRs gain on post-COVID recovery hopes*Indexes down: Dow 0.07%, S&P 0.26%, Nasdaq 0.56%Jan 3 (Reuters) - Wall Street's main indexes fell on the +first trading day of the year following declines in Apple and +energy stocks, with investors awaiting the Federal Reserve's +meeting minutes for further clarity on the path of future +interest rate hikes.Most of the major S&P 500 sectors were in the red, with +information technology stocks pulled lower by a 3% +drop in the shares of iPhone maker Apple Inc following +a report of a rating downgrade by Exane BNP Paribas.Tesla Inc fell nearly 10% as the electric-vehicle +maker missed Wall Street estimates for quarterly deliveries.Other rate-sensitive technology and growth stocks such as +Alphabet Inc, Meta Platforms Inc, Microsoft +and Amazon.com Inc were up between 0.6% and +2.0%.The energy sector, which logged stellar gains in 2022, fell +1.2% tracking oil prices lower on bleak business activity data +from China as well as concerns about the global economic +outlook."The market, like today, is not very much about fundamentals +or news, it's more about the emotion of a start of a new year +and investors trying to decide if a recovery is in front of +them," said Rick Meckler, partner at Cherry Lane Investments in +New Vernon, New Jersey.The main U.S. stock indexes ended 2022 with their steepest +annual losses since 2008 against the backdrop of the Fed's +fastest pace of rate hikes since the 1980s.The S&P 500 shed 19.4% in 2022, marking a roughly $8 +trillion decline in market cap, while the Nasdaq fell 33.1%, +dragged down by growth stocks.Investors on Wednesday will closely monitor the minutes of +the Fed's December policy meeting, when the central bank raised +interest rates by 50 basis points after four back-to-back 75-bps +hikes and signaled rates could stay higher for a while.Other economic data due this week includes December's +nonfarm payrolls report as well as the ISM manufacturing report, +which will give further clues on the strength of the economy and +the labor market.Money market participants see a 68.8% chance the Fed will +raise the benchmark rate by 25 bps to 4.50%-4.75% in February, +with the rates peaking at 4.94% by June.At 10:48 a.m. ET, the Dow Jones Industrial Average +was down 24.82 points, or 0.07%, at 33,122.43, the S&P 500 +was down 9.92 points, or 0.26%, at 3,829.58, and the +Nasdaq Composite was down 58.43 points, or 0.56%, at +10,408.05.U.S.-listed Chinese firms such as Alibaba Group Holding Ltd +, JD.com Inc, Pinduoduo Inc rose between +3% and 6% on post-COVID recovery hopes.Advancing issues outnumbered decliners for a 1.85-to-1 ratio +on the NYSE and a 1.57-to-1 ratio on the Nasdaq.The S&P index recorded no new 52-week high and one new low, +while the Nasdaq recorded 73 new highs and 23 new lows. +(Reporting by Shubham Batra, Ankika Biswas and Amruta Khandekar +in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/GOOG/2023.01.04/Former Tesla employee Gore to lead U.S. zero emission advocacy group.txt b/news/GOOG/2023.01.04/Former Tesla employee Gore to lead U.S. zero emission advocacy group.txt new file mode 100644 index 0000000000000000000000000000000000000000..c50afde654072e9c59f7cbbecf49fa08f0b085db --- /dev/null +++ b/news/GOOG/2023.01.04/Former Tesla employee Gore to lead U.S. zero emission advocacy group.txt @@ -0,0 +1 @@ +Congress in 2021 approved $5 billion for EV charging stations and in August passed new electric vehicle tax credits."Lots of work ahead, starting with implementation of the National Electric Vehicle Infrastructure Program and new industrial policies in the Inflation Reduction Act," said Gore in a LinkedIn post.He is the son of the former vice president and co-winner of the 2007 Nobel Peace Prize for his climate campaigning.Gore worked for Tesla for nearly seven years in public policy and business development.ZETA members include Tesla, Lucid Motors, Rivian, LG, Alphabet's Waymo, Uber, Panasonic and Albemarle.President Joe Biden wants 50% of new U.S. vehicles to be electric or plug-in electric hybrid by 2030.The $430 billion Inflation Reduction Act (IRA) passed in August revised EV tax credit rules, ending $7,500 consumer tax credits for purchases of EVs assembled outside North America, angering South Korea, the European Union, Japan and others.Joe Britton, ZETA's previous executive director, said "much of the conversation around EVs over the next few years will focus on implementation and deployment" after congressional action.Last week, the U.S. Treasury Department said EVs leased by consumers can qualify for up to $7,500 in commercial clean vehicle tax credits, a decision making those assembled outside North America eligible.The law also restricts battery minerals and component sourcing, sets income and price caps for qualifying vehicles and seeks to phase out Chinese battery minerals or components. The commercial credit does not have restrictions imposed on the consumer credit.The IRA lifts the 200,000-vehicle per manufacturer cap that had made Tesla and General Motors ineligible for EV tax credits. (Reporting by David Shepardson; editing by Philippa Fletcher)By David Shepardson \ No newline at end of file diff --git a/news/GOOG/2023.01.04/India tribunal declines Google's request to block Android antitrust ruling.txt b/news/GOOG/2023.01.04/India tribunal declines Google's request to block Android antitrust ruling.txt new file mode 100644 index 0000000000000000000000000000000000000000..43b8710c8c334ae29e2a490458c99e09c8fc2506 --- /dev/null +++ b/news/GOOG/2023.01.04/India tribunal declines Google's request to block Android antitrust ruling.txt @@ -0,0 +1,23 @@ +NEW DELHI, Jan 4 (Reuters) - An Indian tribunal on +Wednesday declined a request by Google to block an antitrust +ruling that ordered the tech giant to change its approach to its +Android platform, dealing the U.S. firm a setback in a key +growth market.In October, the Competition Commission of India (CCI) fined +Alphabet Inc's Google $161 million for exploiting its +dominant position in markets such as online search and the +Android app store, and asked it to change curbs on smartphone +makers related to pre-installing apps.During the hearing, Google's counsel, Abhishek Manu Singhvi, +repeatedly pushed for putting the decision on hold, or extending +the date of implementation of CCI's directives beyond Jan. 19. +He said the CCI's decision will force the company to change its +business model and harm consumer interest.The tribunal did not agree. "We are of opinion that at +the moment given the voluminous nature of the appeal, there is +no need to pass any interim order," the two-member tribunal +panel said.Googletoldthe tribunal in a legal filing that CCI's investigation +unit copied parts of a European ruling against the U.S. firm +from a similar verdict on abuse of market dominance of its +Android operating system, Reuters reported on Tuesday.The CCI investigators "copy-pasted extensively from a +European Commission decision, deploying evidence from Europe +that was not examined in India", Google alleged.The CCI has not responded yet to those allegations. +(Reporting by Arpan Chaturvedi and Munsif Vengattil in New +Delhi; Editing by Christopher Cushing) \ No newline at end of file diff --git a/news/GOOG/2023.01.04/Indian tribunal declines interim stay for Google on Android-related antitrust ruling.txt b/news/GOOG/2023.01.04/Indian tribunal declines interim stay for Google on Android-related antitrust ruling.txt new file mode 100644 index 0000000000000000000000000000000000000000..849c3cc2f7798bcb2ca1d64ac6a6cbaf6a823f1f --- /dev/null +++ b/news/GOOG/2023.01.04/Indian tribunal declines interim stay for Google on Android-related antitrust ruling.txt @@ -0,0 +1 @@ +The Competition Commission of India in October fined Alphabet Inc's Google $161 million for exploiting its dominant position in markets such as online search and through the Android app store, and asked it to change restrictions imposed on smartphone makers related to pre-installing apps. (Reporting by Munsif Vengattil in New Delhi; Editing by Christopher Cushing) \ No newline at end of file diff --git a/news/GOOG/2023.01.04/Microsoft shares fall after UBS warns on cloud growth.txt b/news/GOOG/2023.01.04/Microsoft shares fall after UBS warns on cloud growth.txt new file mode 100644 index 0000000000000000000000000000000000000000..7d4ba13cf1a5c5ede9e19bf3fc891c97ff64fc81 --- /dev/null +++ b/news/GOOG/2023.01.04/Microsoft shares fall after UBS warns on cloud growth.txt @@ -0,0 +1 @@ +The brokerage warned Microsoft could see slowing growth for its cloud services and Office suite software.After years of rapid growth in the cloud business that made Microsoft an investor darling, the software giant is now battling lower spending by businesses amid rising borrowing costs. UBS lowered its rating on the stock to "neutral" from "buy" and its lead analyst said Microsoft's cloud unit "is entering a steep growth deceleration that could prove to be worse in FY23/FY24 than investors are modeling."The analyst added that companies cutting spending and slashing jobs could also weigh on Microsoft's Office 365 business this year. The news sent Microsoft shares to a near two-month low on Wednesday, making it the biggest loser on the S&P 500.The stock had lost 29% of its value in 2022, but outperformed Big Tech peers such as Google-parent Alphabet and Amazon. Shares of Amazon were also down on Wednesday after UBS lowered the price target on the stock, citing similar concerns over slowing cloud growth. \ No newline at end of file diff --git a/news/GOOG/2023.01.04/Microsoft shares lag Big Tech peers as growth worries prompt UBS downgrade.txt b/news/GOOG/2023.01.04/Microsoft shares lag Big Tech peers as growth worries prompt UBS downgrade.txt new file mode 100644 index 0000000000000000000000000000000000000000..b2009a054b129f2b5bfd3c1cdc9319982b973f62 --- /dev/null +++ b/news/GOOG/2023.01.04/Microsoft shares lag Big Tech peers as growth worries prompt UBS downgrade.txt @@ -0,0 +1 @@ +After years of rapid growth in the cloud business that made Microsoft an investor darling, the Satya Nadella-led software giant is now battling lower spending by businesses reeling with rising borrowing costs.Microsoft's Azure cloud unit "is entering a steep growth deceleration that could prove to be worse in FY23/FY24 than investors are modeling," lead analyst Karl Keirstead warned, adding the market could be reaching saturation. UBS lowered the stock to "neutral" from "buy" and cut the price target by $50 to $250. That is lower than the median of $290 and the average "buy" rating from more than 50 analysts, according to Refinitiv data.Microsoft's stock hit a near two-month low of $226, making it the biggest loser on the benchmark S&P 500 index. It had lost 29% of its value in 2022, but outperformed Big Tech peers such as Alphabet Inc and Amazon.com Inc in a dismal year for the rate-sensitive sector.Declining spending on enterprise software from companies cutting costs and slashing jobs could also weigh on Microsoft's Office 365 business this year, Keirstead said. "We don't have as much confidence in the stock ... (at current valuation) to see much (if any) multiple expansion," he said.Shares of Amazon were also down 2% after UBS lowered the price target on the stock to $125 from $165 on concerns over slowing cloud growth. (Reporting by Yuvraj Malik in Bengaluru; Editing by Arun Koyyur) \ No newline at end of file diff --git a/news/GOOG/2023.01.04/Microsoft to invest in autonomous trucking startup Gatik -sources.txt b/news/GOOG/2023.01.04/Microsoft to invest in autonomous trucking startup Gatik -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..6c31949ca8e80e5a956dad2dfdab783b774bde61 --- /dev/null +++ b/news/GOOG/2023.01.04/Microsoft to invest in autonomous trucking startup Gatik -sources.txt @@ -0,0 +1 @@ +Microsoft plans to invest over $10 million in a financing round that values Gatik at more than $700 million, the sources added. As part of the deal, Gatik will use Microsoft's cloud and edge computing platform Azure in developing autonomous delivery technology for trucks.The terms of the deal could still change, added the sources, who requested anonymity to discuss private matters.Microsoft and Gatik declined to comment.Like other big tech companies, Microsoft has recently been putting funds into self-driving technology. In January 2021, Microsoft invested in GM-owned Cruise, which focuses on robotaxis, in a deal that valued the company at $30 billion. Cruise plans to use Azure to ramp up its autonomous vehicle solutions for commercial uses, and competes with Alphabet's Waymo and Amazon's Zoox.Autonomous driving technologies are seen as revolutionary to the transportation and logistics industry, but have faced setbacks due to regulatory concerns on safety and less accessible funding in a slowing market.In November, Ford and Volkswagen shut down their self-driving technology unit, Argo AI, saying that creating self-driving "robotaxis" would be "harder than putting a man on the moon."Gatik, founded in 2017 by industry veterans Gautam Narang and Arjun Narang, focuses on middle-mile, business-to-business logistics for the retail industry.Since 2021, it has launched fully driverless commercial delivery services with Walmart Inc and Loblaw Companies Ltd, in which Gatik offers short-haul deliveries in box trucks in Arkansas and in Ontario, Canada.It has raised more than $120 million from investors including Koch Disruptive Technologies, Innovation Endeavors, Goodyear Ventures and RyderVentures.In the first quarter this year, Gatik plans to integrate its class 6 autonomous box trucks into the Pitney Bowes ecommerce logistics network in Dallas, Texas, aiming to boost deliveries and reduce logistics costs.    (Reporting by Krystal Hu and Joe White; Editing by Edmund Klamann)By Krystal Hu and Joseph White \ No newline at end of file diff --git a/news/GOOG/2023.01.05/Amazon layoff signals more pain for tech sector as recession fears mount.txt b/news/GOOG/2023.01.05/Amazon layoff signals more pain for tech sector as recession fears mount.txt new file mode 100644 index 0000000000000000000000000000000000000000..2751bb02aed5790806798d73b7e3e0a05dc7a93d --- /dev/null +++ b/news/GOOG/2023.01.05/Amazon layoff signals more pain for tech sector as recession fears mount.txt @@ -0,0 +1 @@ +As a demand boom during the pandemic rapidly turns into bust, tech companies shed more than 150,000 workers in 2022, according to tracking site Layoffs.fyi, a number that is growing as growth in the world's biggest economies start to slow."More layoffs are certainly possible ... given the scale of investment we saw in 2020-21, we would probably think that some degree of caution is probably appropriate," said Russ Mould, investment director at AJ Bell.Coming out of a global pandemic, job cuts in 2022 surged 649% from 2021, led by for technology companies, according to executive coaching firm Challenger, Gray & Christmas, Inc.The drop in demand amid a steep rise in borrowing costs has led several executives from the sector to admit they hired in excess during the COVID-19 crisis.Meta Platforms Inc axed 11,000 jobs last year, with Chief Executive Mark Zuckerberg saying he had wrongly expected that the pandemic boom would keep on going.Tech giants Microsoft and Google-parent Alphabet have already hinted at cost-cuts, including layoffs.Salesforce Inc top boss Marc Benioff said on Wednesday the enterprise software company had hired "too many people" as he announced plans to cut 10% of the jobs. For Amazon, growth in its cloud unit that brings most of its profit has slowed as businesses cut back spending, while its online retail unit is reeling from strained consumer budgets due to rising prices. The growing crisis has brought back memories of the dot-com bubble at the start of the century and the 2008 financial crisis when tens of thousands lost jobs. "Some of us will remember 2000 to 2003 after a massive bubble fed by cheap money, high investor expectations and plentiful cash," said Mould. "Whether we see a repetition or not will be very interesting as there is a danger of that." (Reporting by Nivedita Balu, Yuvraj Malik and Bansari Mayur Kamdar in Bengaluru; Editing by Arun Koyyur) \ No newline at end of file diff --git a/news/GOOG/2023.01.05/Geely's EV brand Zeekr aims to double sales in 2023, expand in Europe.txt b/news/GOOG/2023.01.05/Geely's EV brand Zeekr aims to double sales in 2023, expand in Europe.txt new file mode 100644 index 0000000000000000000000000000000000000000..bcb8ca760cc20a63f0f2bfdd91d20e47241eaa52 --- /dev/null +++ b/news/GOOG/2023.01.05/Geely's EV brand Zeekr aims to double sales in 2023, expand in Europe.txt @@ -0,0 +1 @@ +Zeekr, a brand created by Chinese automaker Geely, sold 72,000 vehicles in 2022, mostly in China. Its 001 model, priced at about 300,000 yuan ($43,600), competes with Tesla Inc's Model Y crossover and other luxury models in the increasingly competitive Chinese market. Tesla has cut prices and trimmed production in China as it faces intensifying competition from Chinese brands such as Zeekr. Tesla sales in December fell to the lowest level in five months.A second Zeekr model, the 009, will go into production this month.Zeekr sees opportunity for growth in Europe, An said in an interview at the CES 2023 annual technology conference in Las Vegas. Later this year, Zeekr plans to begin selling vehicles there with assisted driving systems engineered with Mobileye, he added.Zeekr and parent Geely have a European base with Volvo Car AB, which Geely owns a majority stake in.Zeekr and Waymo, Alphabet Inc's robotaxi unit, showed a prototype of an autonomous ride service vehicle at CES.An said Zeekr plans to build vehicles for Waymo in China, but U.S. production is a possibility, "depending on the market situation."Zeekr is not planning to enter the U.S. consumer market, An said.Last month, Zeekr filed for a U.S. initial public offering, without providing details on the size or timing. Reuters previously reported Zeekr was aiming to raise more than $1 billion in the IPO and seeking a valuation of more than $10 billion.($1 = 6.8800 Chinese yuan renminbi) (Reporting by Joseph White in Las Vegas; Editing by Richard Chang)By Joseph White \ No newline at end of file diff --git "a/news/GOOG/2023.01.05/Google set to approach india supreme court within days to challe\342\200\246.txt" "b/news/GOOG/2023.01.05/Google set to approach india supreme court within days to challe\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..e52d399669b7f90a13d0bab4448f83e9a35b0896 --- /dev/null +++ "b/news/GOOG/2023.01.05/Google set to approach india supreme court within days to challe\342\200\246.txt" @@ -0,0 +1 @@ +GOOGLE SET TO APPROACH INDIA SUPREME COURT WITHIN DAYS TO CHALLENGE ANDROID ANTITRUST RULING-SOURCES \ No newline at end of file diff --git a/news/GOOG/2023.01.05/Google set to challenge India Android antitrust ruling at Supreme Court-source.txt b/news/GOOG/2023.01.05/Google set to challenge India Android antitrust ruling at Supreme Court-source.txt new file mode 100644 index 0000000000000000000000000000000000000000..62e9e9499eb40beab5972f82b99aa0d272580a7a --- /dev/null +++ b/news/GOOG/2023.01.05/Google set to challenge India Android antitrust ruling at Supreme Court-source.txt @@ -0,0 +1 @@ +The Competition Commission of India (CCI) in October fined the Alphabet Inc unit $161 million for exploiting its dominant position in the market for Android which powers 97% of smartphones in India, a key growth region for the U.S. giant. Google, however, has been worried about the Indian decision as the remedies ordered are seen as more sweeping than the European Commission's landmark 2018 ruling for imposing unlawful restrictions on Android mobile device makers. Google has challenged the record $4.3 billion fine in that case.In India, Google is now gearing up to file a legal challenge at the Supreme Court within days as the antitrust watchdog's Jan. 19 deadline to implement changes to its model looms, the first source with direct knowledge said.A spokesperson for Google did not immediately respond to a request for comment.The Supreme Court approach will come after Google suffered a setback on Wednesday when a tribunal turned down its request to block the antitrust ruling. The company argued implementation of CCI's directives will hurt its long-standing business model and consumer interests.Google believes some of CCI's directives cannot be implemented, and the company "has no other option" than approaching the Supreme Court for relief, the source added. Google licenses its Android system to smartphone makers, but critics say it imposes restrictions like mandatory pre-installation of its own apps that are anti-competitive. The company argues such agreements help keep the operating system free.The CCI ruled in October that Google's licensing of its Play Store "shall not be linked with the requirement of pre-installing" Google search services, the Chrome browser, YouTube or any other Google applications.Separately, Google has alleged in its filings the CCI's investigation unit copied parts of a European 2018 ruling against the U.S. firm, Reuters has reported. The CCI and the European Commission have not responded to those allegations. (Reporting by Aditi Shah and Aditya Kalra in New Delhi;Editing by Elaine Hardcastle)By Aditi Shah and Aditya Kalra \ No newline at end of file diff --git a/news/GOOG/2023.01.05/MarketScreener's World Press Review: January 5, 2023.txt b/news/GOOG/2023.01.05/MarketScreener's World Press Review: January 5, 2023.txt new file mode 100644 index 0000000000000000000000000000000000000000..48f87d42606deb4762290f15e933436d371966c8 --- /dev/null +++ b/news/GOOG/2023.01.05/MarketScreener's World Press Review: January 5, 2023.txt @@ -0,0 +1,11 @@ + +Next, Glencore, HSBC, Legal & General, Dignity, B&M European Value Retail, Ryanair, Meta, Shopify, Microsoft, Amazon, Salesforce, Coinbase, BlackRock, Dell, Walgreens Boots Alliance, CVS Health, Rite Aid, Cineworld, Apple, Foxconn, Luxshare Precision, Sony, Qualcomm, Honda, Alphabet feature in this press review! + + + + +  + +  +  +  diff --git a/news/GOOG/2023.01.05/Qualcomm, Iridium partner to bring satellite-based messaging to Android phones.txt b/news/GOOG/2023.01.05/Qualcomm, Iridium partner to bring satellite-based messaging to Android phones.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d1494f71efc374a7de1d2e7f8c88b871646d3d9 --- /dev/null +++ b/news/GOOG/2023.01.05/Qualcomm, Iridium partner to bring satellite-based messaging to Android phones.txt @@ -0,0 +1,20 @@ +Jan 5 (Reuters) - Qualcomm Inc has partnered +with Iridium Communications Inc to provide a +satellite-based messaging service on premium smartphones running +Google's Android operating system, the chipmaker said on +Thursday.The partnership comes months after Apple Inc +unveiled a similar feature allowing iPhone 14 models to send +emergency messages via satellite in some countries such as the +United States and Canada. Those phones also contain a Qualcomm +chip that can talk to satellites when there is no Wi-Fi or +cellular data connection.Qualcomm said on Thursday the new service, Snapdragon +Satellite, will be available in certain regions from the second +half of 2023 starting devices using the second generation +Snapdragon 8 mobile platform.Snapdragon Satellite can also be enabled on other devices +including laptops, vehicles and tablets, it added, without +specifying if those devices would need any special equipment.Using Qualcomm's technology messages sent through the +service will reach Iridium's satellite network. They will then +be communicated to the recipient or emergency services.GPS-based gadget maker Garmin Ltd will coordinate +emergency response services to users, Qualcomm said. +(Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee in +San Francisco; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/GOOG/2023.01.05/Wall St drops as tight labor market, Fed officials' view fan rate fears.txt b/news/GOOG/2023.01.05/Wall St drops as tight labor market, Fed officials' view fan rate fears.txt new file mode 100644 index 0000000000000000000000000000000000000000..205f1c88c78b1d820d2a05ce870666c5b9038ac1 --- /dev/null +++ b/news/GOOG/2023.01.05/Wall St drops as tight labor market, Fed officials' view fan rate fears.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*U.S. private payrolls rise more than expected*Initial weekly jobless claims fall*Tesla drops as sales of China-made vehicles fall*Indexes down: Dow 1.15%, S&P 1.09%, Nasdaq 1.11%Jan 5 (Reuters) - Wall Street's main indexes fell +sharply on Thursday as fresh evidence of a tight labor market +and hawkish comments from policymakers deepened fears of +elevated interest rates for longer than expected.The ADP National Employment report showed a +higher-than-expected rise in private employment in December, +while another report showed weekly jobless claims fell last +week.The reports came a day after data showed a moderate fall in +U.S. job openings, in growing evidence that the labor market +remains tight.Most big technology and growth stocks such as Alphabet Inc +and Microsoft Corp fell between 1.0% and 2.3% +as U.S. Treasury yields surged on prolonged rate-hike +expectations.On the benchmark S&P 500 index, rate-sensitive real estate +stocks led the losses with a 2.9% drop, with utilities +in tow and down 2.1%.A strong labor market has been a concern for markets +pummeled by fears of a recession from rising rates as it gives +the Federal Reserve a reason to keep tightening financial +conditions for longer than expected this year."Everything else within the economy appears to be moderating +except labor market demand, which is the key to the Fed stopping +rate hikes," said Brent Schutte, chief investment officer of +Northwestern Mutual Wealth Management Co.In the previous session, Wall Street's main indexes erased +some of their gains after minutes from the Fed's December +meeting showed the central bank was laser-focused on fighting +inflation even as officials agreed to slow the pace of rate +hikes to limit risks to economic growth.Both Kansas City Fed leader Esther George and Atlanta +President Raphael Bostic on Thursday stressed the central bank's +priority to curb stubborn price pressures through policy +tightening.Traders were almost evenly split on chances of a 25-basis +point and a 50-bps rate hike in February and now see rates +peaking at slightly above 5% in June.The more comprehensive nonfarm payrolls report is due on +Friday, which would provide further clues on labor demand and +the rate hike trajectory.At 12:05 p.m. ET, the Dow Jones Industrial Average +was down 382.59 points, or 1.15%, at 32,887.18, the S&P 500 +was down 41.92 points, or 1.09%, at 3,811.05, and the +Nasdaq Composite was down 116.55 points, or 1.11%, at +10,342.22.Among individual stocks, Tesla Inc dropped 3.3% +after December sales of its China-made electric vehicles fell to +a five-month low, while Amazon.com Inc, which announced +increased layoff plans, reversed premarket gains.Walgreens Boots Alliance Inc dropped 7.5% after the +drugstore chain posted a quarterly loss on an opioid litigation +charge.Bed Bath & Beyond Inc lost 24.9% after the company +said it was exploring options, including a bankruptcy filing.Declining issues outnumbered advancers for a 2.48-to-1 ratio +on the NYSE and a 1.84-to-1 ratio on the Nasdaq.The S&P index recorded seven new 52-week highs and six new +lows, while the Nasdaq recorded 35 new highs and 54 new lows. +(Reporting by Shubham Batra, Bansari Mayur Kamdar and Ankika +Biswas in Bengaluru; Editing by Arun Koyyur and Shounak +Dasgupta) \ No newline at end of file diff --git a/news/GOOG/2023.01.06/CES technology trade show adopts social theme.txt b/news/GOOG/2023.01.06/CES technology trade show adopts social theme.txt new file mode 100644 index 0000000000000000000000000000000000000000..360a8c0d8cfe199c399b551f9cc30d0aa12aee28 --- /dev/null +++ b/news/GOOG/2023.01.06/CES technology trade show adopts social theme.txt @@ -0,0 +1,31 @@ +Las Vegas, Jan 6 (Reuters) - Farm equipment took the +keynote spotlight at the CES technology trade show in Las Vegas, +as "human security for all" became the first theme in its +56-year history.In his speech opening the Consumer Electronics Show on +Thursday, John Deere Chief Executive John May laid out a +strategy of using technology to feed a hungry world as arable +land and rural labor decline while costs are rising."Technology allows farmers to create more with less," +May told an audience of 2,000 at one of the world's largest tech +events, organized by the Consumer Technology Association (CTA).The trade group is partnering with the World Academy of Art +and Science and the United Nations Trust Fund for Human Security +to encourage the tech industry to help tackle the world's most +pressing problems."This is the next big idea," said Walt Stinson, co-founder +of electronics retailer ListenUp, who approached the CTA about a +potential partnership.Several panels discussed how innovation helps to solve +global challenges. Representatives of Nokia of America Corp +, Siemens AG and Alphabet Inc's +Google talked about applying technology to help create a +sustainable supply of food and closing the global education gap.Working to improve the human condition ultimately pays +dividends, said Ketan Patel, a longtime Goldman Sachs banker who +now runs the Force for Good Foundation."If you add to the purpose of every tech company, all of a +sudden you have a moral purpose, you have something that could +be hugely profitable," Patel said, "because your technology +reaches a customer base that (previously) was not profitable."The CES sessions are the first phase of the trade group's +"rolling thunder" campaign to raise awareness across all sectors +of the economy, said Garry Jacobs, executive chairman of the +Human Security For All campaign. The group plans to make its +pitch to the world's universities in the coming months."These challenges cannot be handled by nation states or +multilateral institutions," said Jacobs. "It requires the +cooperation of global society in its different segments." +(Reporting by Dawn Chmielewski in Las Vegas; Editing by Richard +Chang) \ No newline at end of file diff --git a/news/GOOG/2023.01.06/Exclusive-Russian hackers targeted U.S. nuclear scientists.txt b/news/GOOG/2023.01.06/Exclusive-Russian hackers targeted U.S. nuclear scientists.txt new file mode 100644 index 0000000000000000000000000000000000000000..4349fa2755e4028ad061a38632eec928cfd6cd3f --- /dev/null +++ b/news/GOOG/2023.01.06/Exclusive-Russian hackers targeted U.S. nuclear scientists.txt @@ -0,0 +1 @@ +Between August and September, as President Vladimir Putin indicated Russia would be willing to use nuclear weapons to defend its territory, Cold River targeted the Brookhaven (BNL), Argonne (ANL) and Lawrence Livermore National Laboratories (LLNL), according to internet records that showed the hackers creating fake login pages for each institution and emailing nuclear scientists in a bid to make them reveal their passwords.Reuters was unable to determine why the labs were targeted or if any attempted intrusion was successful. A BNL spokesperson declined to comment. LLNL did not respond to a request for comment. An ANL spokesperson referred questions to the U.S. Department of Energy, which declined to comment.Cold River has escalated its hacking campaign against Kyiv's allies since the invasion of Ukraine, according to cybersecurity researchers and western government officials. The digital blitz against the U.S. labs occurred as U.N. experts entered Russian-controlled Ukrainian territory to inspect Europe's biggest atomic power plant and assess the risk of what both sides said could be a devastating radiation disaster amid heavy shelling nearby.Cold River, which first appeared on the radar of intelligence professionals after targeting Britain's foreign office in 2016, has been involved in dozens of other high-profile hacking incidents in recent years, according to interviews with nine cybersecurity firms. Reuters traced email accounts used in its hacking operations between 2015 and 2020 to an IT worker in the Russian city of Syktyvkar."This is one of the most important hacking groups you've never heard of," said Adam Meyer, senior vice president of intelligence at U.S. cybersecurity firm CrowdStrike. "They are involved in directly supporting Kremlin information operations."Russia's Federal Security Service (FSB), the domestic security agency that also conducts espionage campaigns for Moscow, and Russia's embassy in Washington did not respond to emailed requests for comment.Western officials say the Russian government is a global leader in hacking and uses cyber-espionage to spy on foreign governments and industries to seek a competitive advantage. However, Moscow has consistently denied that it carries out hacking operations.Reuters showed its findings to five industry experts who confirmed the involvement of Cold River in the attempted nuclear labs hacks, based on shared digital fingerprints that researchers have historically tied to the group.The U.S. National Security Agency (NSA) declined to comment on Cold River's activities. Britain's Global Communications Headquarters (GCHQ), its NSA equivalent, did not comment. The foreign office declined to comment.'INTELLIGENCE COLLECTION'In May, Cold River broke into and leaked emails belonging to the former head of Britain's MI6 spy service. That was just one of several 'hack and leak' operations last year by Russia-linked hackers in which confidential communications were made public in Britain, Poland and Latvia, according to cybersecurity experts and Eastern European security officials.In another recent espionage operation targeting critics of Moscow, Cold River registered domain names designed to imitate at least three European NGOs investigating war crimes, according to French cybersecurity firm SEKOIA.IO. The NGO-related hacking attempts occurred just before and after the October 18 launch of a report by a U.N. independent commission of enquiry that found Russian forces were responsible for the "vast majority" of human rights violations in the early weeks of the Ukraine war, which Russia has called a special military operation.In a blog post, SEKOIA.IO said that, based on its targeting of the NGOs, Cold River was seeking to contribute to "Russian intelligence collection about identified war crime-related evidence and/or international justice procedures." Reuters was unable independently to confirm why Cold River targeted the NGOs.The Commission for International Justice and Accountability (CIJA), a nonprofit founded by a veteran war crimes investigator, said it had been repeatedly targeted by Russian-backed hackers in the past eight years without success. The other two NGOs, the International Center of Nonviolent Conflict and the Centre for Humanitarian Dialogue, did not respond to requests for comment. Russia's embassy in Washington did not return a request seeking comment about the attempted hack against CIJA.Cold River has employed tactics such as tricking people into entering their usernames and passwords on fake websites to gain access to their computer systems, security researchers told Reuters. To do this, Cold River has used a variety of email accounts to register domain names such as "goo-link[.]online" and "online365-office[.]com" which at a glance look similar to legitimate services operated by firms like Google and Microsoft, the security researchers said. DEEP TIES TO RUSSIA Cold River made several missteps in recent years that allowed cybersecurity analysts to pinpoint the exact location and identity of one of its members, providing the clearest indication yet of the group's Russian origin, according to experts from Internet giant Google, British defense contractor BAE, and U.S. intelligence firm Nisos.Multiple personal email addresses used to set up Cold River missions belong to Andrey Korinets, a 35-year-old IT worker and bodybuilder in Syktyvkar, about 1,600 km (1,000 miles) northeast of Moscow. Usage of these accounts left a trail of digital evidence from different hacks back to Korinets' online life, including social media accounts and personal websites.Billy Leonard, a Security Engineer on Google's Threat Analysis Group who investigates nation state hacking, said Korinets was involved. "Google has tied this individual to the Russian hacking group Cold River and their early operations," he said. Vincas Ciziunas, a security researcher at Nisos who also connected Korinets' email addresses to Cold River activity, said the IT worker appeared to be a "central figure" in the Syktyvkar hacking community, historically. Ciziunas discovered a series of Russian language internet forums, including an eZine, where Korinets had discussed hacking, and shared those posts with Reuters. Korinets confirmed that he owned the relevant email accounts in an interview with Reuters but he denied any knowledge of Cold River. He said his only experience with hacking came years ago when he was fined by a Russian court over a computer crime committed during a business dispute with a former customer.Reuters was able separately to confirm Korinets' links to Cold River by using data compiled through cybersecurity research platforms Constella Intelligence and DomainTools, which help identify the owners of websites: the data showed that Korinets' email addresses registered numerous websites used in Cold River hacking campaigns between 2015 and 2020. It is unclear whether Korinets has been involved in hacking operations since 2020. He offered no explanation of why these email addresses were used and did not respond to further phone calls and emailed questions. (Reporting by James Pearson and Christopher Bing; Additional reporting by Polina Nikolskaya, Maria Tsvetkova, and Anton Zverev; and Zeba Siddiqui in San Francisco and Raphael Satter in Washington ; Editing by Chris Sanders and Daniel Flynn)By James Pearson and Christopher Bing \ No newline at end of file diff --git a/news/GOOG/2023.01.06/Google Cloud to support Kuwait's digitisation drive.txt b/news/GOOG/2023.01.06/Google Cloud to support Kuwait's digitisation drive.txt new file mode 100644 index 0000000000000000000000000000000000000000..f32e437d6e64f4d45f061184aa05e4827e0bc33a --- /dev/null +++ b/news/GOOG/2023.01.06/Google Cloud to support Kuwait's digitisation drive.txt @@ -0,0 +1 @@ +Most Gulf states are investing significantly in digital technologies across the government sector to improve efficiency and make public services easier to access online, and as a way to diversify oil-dependent economies.Google Cloud did not provide a value for the agreement with the Kuwaiti government, but said it would encompass digitising government services, migrating and storing national data securely on the cloud and setting up a national digital skills programme.The company aims to invest in a cloud region in Kuwait, its third announced in the Middle East after Qatar and Saudi Arabia, and said it plans to open an office on the ground without specifying a timeframe.There is increasing competition for developing cloud services in the region among international players, with Chinese firms such as Huawei also vying for lucrative government contracts as part of Gulf national economic transformation plans. (Reporting by Rachna Uppal; Editing by Susan Fenton) \ No newline at end of file diff --git a/news/GOOG/2023.01.07/Google challenges Android antitrust ruling in India's Supreme Court.txt b/news/GOOG/2023.01.07/Google challenges Android antitrust ruling in India's Supreme Court.txt new file mode 100644 index 0000000000000000000000000000000000000000..5e1421d4c2c740d85ca71bd45834f71868f36e20 --- /dev/null +++ b/news/GOOG/2023.01.07/Google challenges Android antitrust ruling in India's Supreme Court.txt @@ -0,0 +1 @@ +The Competition Commission of India (CCI) in October fined the Alphabet Inc unit $161 million for exploiting its dominant position in the market for Android, which powers 97% of smartphones in India and is a key growth region for the U.S. giant.The challenge comes after Google suffered a setback on Wednesday when an appeals tribunal rejected its request to block the antitrust ruling. The company argued that implementation of the CCI's directives will hurt its long-standing business model and consumer interests.Supreme Court records show Google filed a challenge against the tribunal ruling on Saturday. A hearing date is yet to be fixed.Reuters was first to report on Thursday about Google's planned strategy. Sources earlier this week told Reuters that Google considers a legal challenge as its last hope of blocking the ruling of the CCI, whose directives forcing the company to change its business model kick in on Jan. 19.Google's Supreme Court filing seeks to put the CCI decison on hold while its appeal is heard, said one person familiar with the matter on Saturday.Google has been concerned about the Indian decision as the remedies ordered are seen as more sweeping than the European Commission's landmark 2018 ruling for imposing unlawful restrictions on Android mobile device makers. Google has challenged the record $4.3 billion fine in that case.A Google spokesperson did not immediately respond.The CCI ruled in October that Google's licensing of its Play Store "shall not be linked with the requirement of pre-installing" Google search services, the Chrome browser, YouTube or any other Google applications. (Reporting by Aditya Kalra, Arpan Chaturvedi and Aditi Shah in New Delhi; Editing by Mike Harrison)By Aditya Kalra and Arpan Chaturvedi \ No newline at end of file diff --git a/news/GOOG/2023.01.07/Protesters storm Tesla store in China after price cuts.txt b/news/GOOG/2023.01.07/Protesters storm Tesla store in China after price cuts.txt new file mode 100644 index 0000000000000000000000000000000000000000..8bb0d20be073084645c3bcccfa87316e5bc0224d --- /dev/null +++ b/news/GOOG/2023.01.07/Protesters storm Tesla store in China after price cuts.txt @@ -0,0 +1 @@ +Tesla also cut prices on its best-selling Model Y and Model 3 electric vehicles in Japan, South Korea and Australia in what a person with direct knowledge of the plan said was part of an effort to help stoke demand for output from its Shanghai factory, its single largest production hub.The shift is the first major move by Tesla since appointing its lead executive for China and Asia, Tom Zhu, to oversee global output and deliveries that have been at the heart of the company's recent challenges after falling short of its 2022 delivery target.Reuters was able to verify the location of the protest video by matching the features of the store and its surroundings visible in the video, with features of the store and its surroundings visible on Baidu Maps and in social media posts on Chinese social media app DianPing.Reuters confirmed the current location of the store, which cannot be seen on Baidu Map's Panorama feature or on Google maps, by speaking to employees of the store. Reuters was not independently able to verify the date on which the video and the pictures were shot. \ No newline at end of file diff --git a/news/GOOG/2023.01.08/Seattle public schools blame tech giants for social media harm in lawsuit.txt b/news/GOOG/2023.01.08/Seattle public schools blame tech giants for social media harm in lawsuit.txt new file mode 100644 index 0000000000000000000000000000000000000000..1b34e0b5972f405510ed2eb84ada87b28c878fe4 --- /dev/null +++ b/news/GOOG/2023.01.08/Seattle public schools blame tech giants for social media harm in lawsuit.txt @@ -0,0 +1 @@ +The complaint, filed on Friday against Alphabet Inc, Meta Platforms Inc, Snap Inc and TikTok-owner ByteDance with the U.S. District Court, claimed they purposefully designed their products to hook young people to their platforms and were creating a mental health crisis.Meta Platforms, TikTok, Google and Snap did not immediately respond to Reuters' request for comment. In the past, the companies have said they aim to create an enjoyable experience for users and exclude harmful content and invest in moderation and content controls.The lawsuit says the companies' actions have been a substantial factor in causing a youth mental health crisis."Defendants have successfully exploited the vulnerable brains of youth, hooking tens of millions of students across the country into positive feedback loops of excessive use and abuse of Defendants' social media platforms," the lawsuit said.Students with mental health issues perform worse, causing schools to take steps including training teachers to identify and address such symptoms, hire trained personnel, and create additional resources to warn students about the dangers of social media, the complaint said.The lawsuit seeks compensation for monetary damages and other penalties.In 2021, U.S. lawmakers accused Facebook CEO Mark Zuckerberg of pushing for higher profits at the expense of children's mental health following testimony by whistleblower Frances Haugen. Facebook has consistently said it disagrees with Haugen's characterization that the company failed to protect teen girls on Instagram."The argument that we deliberately push content that makes people angry for profit is deeply illogical," he posted on his Facebook page in response. "We make money from ads, and advertisers consistently tell us they don't want their ads next to harmful or angry content. And I don't know any tech company that sets out to build products that make people angry or depressed." (Reporting by Jyoti Narayan in Bengaluru, additional reporting by Rhea Binoy in Bengaluru; Editing by Lisa Shumaker) \ No newline at end of file diff --git a/news/GOOG/2023.01.09/Alphabet A : Gets a Buy rating from Jefferies.txt b/news/GOOG/2023.01.09/Alphabet A : Gets a Buy rating from Jefferies.txt new file mode 100644 index 0000000000000000000000000000000000000000..70ae7f710c2d2ec8b0d5e6dd2fbdb18c4386ea05 --- /dev/null +++ b/news/GOOG/2023.01.09/Alphabet A : Gets a Buy rating from Jefferies.txt @@ -0,0 +1 @@ +In a research note, Jefferies analyst Brent Thill has maintained his recommendation on the stock with a Buy rating. The target price is still set at USD 125. \ No newline at end of file diff --git a/news/GOOG/2023.01.09/Bolsonaro in Florida hospital; 1,500 supporters detained after Brasilia riots.txt b/news/GOOG/2023.01.09/Bolsonaro in Florida hospital; 1,500 supporters detained after Brasilia riots.txt new file mode 100644 index 0000000000000000000000000000000000000000..0efbc7afb943c012d379225e7084a89cfbedb7d3 --- /dev/null +++ b/news/GOOG/2023.01.09/Bolsonaro in Florida hospital; 1,500 supporters detained after Brasilia riots.txt @@ -0,0 +1,75 @@ +*Bolsonaro hospitalized for stomach pain, U.S. visa doubts*Lula says military did nothing to stop coup-mongers*Biden and other world leaders condemn riots(Adds details of trucker protests in paragraph 21)BRASILIA/ORLANDO, Fla., Jan 9 (Reuters) - Far-right +former Brazilian President Jair Bolsonaro was admitted to a +hospital in Florida on Monday with stomach pains as 1,500 of his +supporters were rounded up in Brasilia after storming key +buildings in the capital over the weekend.President Luiz Inacio Lula da Silva, a leftist who took +office on Jan. 1 after defeating Bolsonaro in an October +election, vowed to bring those responsible to justice. He +accused rioters of trying to overthrow democracy, and questioned +why the army had not discouraged calls for a military coup +outside their barracks.On Sunday, angry mobs rampaged through Congress, the Supreme +Court and presidential offices, smashing windows, furniture and +artwork in the worst attack on state institutions since Brazil's +return to democracy in the 1980s.Bolsonaro, who flew to the United States days before his +term in office ended, went to a hospital in Orlando on Monday +complaining of intestinal pains related to a stabbing he +suffered during the 2018 election campaign. His doctor said he +has an intestinal blockage that was not serious and would likely +not need surgery.In an interview with CNN Brasil, Bolsonaro said he had +planned to stay in the United States until the end of January, +but now plans to go back to Brazil sooner to see his doctors."I intend to bring forward my return because in Brazil the +doctors already know about my problem of intestinal obstruction +due to the stab wound," Bolsonaro said, according to a report on +the CNN Brasil website.U.S. STAY IN QUESTIONBolsonaro faces several investigations before the +Supreme Court in Brazil and his future in the United States, +where he traveled with a visa issued to heads of state, +diplomats and other government officials, is in question.Representative Joaquin Castro, a Democratic lawmaker in the +U.S. Congress, said on CNN that the United States should not +give refuge to an "authoritarian who has inspired domestic +terrorism" and should send Bolsonaro back to Brazil.The U.S. government declined to comment on Bolsonaro's +current visa status.U.S. State Department spokesperson Ned Price said a person +who entered on a visa for foreign officials must depart the +country within 30 days or apply for a change of immigration +status if they are no longer engaged in official business.Restoring order in the Brazilian capital, Brazilian soldiers +backed by police on Monday dismantled a two-month-old camp +opposite the army's headquarters where Bolsonaro supporters have +been protesting since his election defeat.Some 1,200 people from the camp were detained for +questioning on Monday, authorities said, after about 300 arrests +on Sunday.Thousands of Bolsonaro's backers set off from that +encampment on Sunday before storming the presidential palace, +Supreme Court and Congress.Lula, who was back at work at the ransacked Planalto palace, +met with his defense minister and commanders of the armed forces +to discuss the violence, reminiscent of the assault on the U.S. +Capitol two years ago by backers of former President Donald +Trump.Speaking later to the country's governors, Lula stepped up +his criticism of the Brazilian military for tolerating +demonstrations at their gates calling for a coup since Bolsonaro +lost the election."People were openly calling for a coup outside the barracks, +and nothing was done. No general lifted a finger to tell them +they could not do that," the 77-year-old president said. He +accused some security forces of being complicit with rioters.LULA WASHINGTON INVITATIONU.S. President Joe Biden joined other world leaders in +condemning Sunday's riots, calling them "outrageous," while +Bolsonaro, who is now in Florida, denied inciting his supporters +and said the rioters had "crossed the line."In a phone call on Monday, Biden invited Lula to visit +Washington in early February, according to a statement from the +White House.Pro-Bolsonaro truckers, who have caused intermittent havoc +on Brazil's highways for months, held more protests through +Sunday night. The truckers are among Bolsonaro supporters who +refuse to accept the result of the October election, seeking to +cause economic disruption in order to provoke a military coup.Police on Monday removed their blockade of the BR 163 +highway that cuts through Brazil's top grain-producing state +Mato Grosso and on another highway in Parana state.Supreme Court Justice Alexandre de Moraes ordered the +governor of Brasilia removed from office late on Sunday for 90 +days over alleged security failings and demanded that social +media platforms Facebook, Twitter and TikTok block accounts of +users spreading anti-democratic propaganda.Facebook parent Meta and Google's video +platform YouTube said on Monday they were removing content +supporting or praising the weekend actions. TikTok and Twitter +did not respond to requests for comment.Brazil's financial markets held steady after an early drop, +with the Bovespa benchmark stock index edging higher in +afternoon trading and the currency closing 0.4% weaker against +the U.S. dollar. Some analysts said Sunday's violence could +strengthen Lula politically.(Reporting by Lisandra Paraguassu, Gabriel Stardgarter, Gabriel +Araujo, Anthony Boadle and Sergio Queiroz; Editing by Brad +Haynes, Edmund Blair, Paul Simao, Cynthia Osterman and Kenneth +Maxwell) \ No newline at end of file diff --git a/news/GOOG/2023.01.09/EU to decide by Feb. 10 on Big Telecoms advertising venture.txt b/news/GOOG/2023.01.09/EU to decide by Feb. 10 on Big Telecoms advertising venture.txt new file mode 100644 index 0000000000000000000000000000000000000000..a05fe3ce549d615ae98d6de06b86f3c491eb147f --- /dev/null +++ b/news/GOOG/2023.01.09/EU to decide by Feb. 10 on Big Telecoms advertising venture.txt @@ -0,0 +1 @@ +The telecoms operators sought approval from the EU antitrust watchdog on Jan. 6 for the joint venture, which would be their first attempt to take on Meta and Alphabet unit Google in the lucrative online advertising sector.The Commission can approve the deal with or without remedies or it can open a four-month long investigation if it has serious concerns."The JV will offer a privacy-led, digital identification solution to support the digital marketing and advertising activities of brands and publishers," the Commission said. (Reporting by Foo Yun Chee; editing by Barbara Lewis) \ No newline at end of file diff --git a/news/GOOG/2023.01.09/Facebook owner Meta removing content backing Brazil assault.txt b/news/GOOG/2023.01.09/Facebook owner Meta removing content backing Brazil assault.txt new file mode 100644 index 0000000000000000000000000000000000000000..e5d3d5d763b186d80024278269043312812612df --- /dev/null +++ b/news/GOOG/2023.01.09/Facebook owner Meta removing content backing Brazil assault.txt @@ -0,0 +1 @@ +Tens of thousands of supporters of Brazil's far-right former President Jair Bolsonaro smashed presidential palace windows, flooded parts of Congress with a sprinkler system and ransacked rooms in the Supreme Court in a more than three hour uprising."In advance of the election, we designated Brazil as a temporary high-risk location and have been removing content calling for people to take up arms or forcibly invade Congress, the Presidential palace and other federal buildings," a Meta spokesman said."We are also designating this as a violating event, which means we will remove content that supports or praises these actions," he said. "We are actively following the situation and will continue removing content that violates our policies."Leftist President Luiz Inacio Lula da Silva took office on Jan. 1 after defeating Bolsonaro in a runoff election in October, ending Brazil's most right-wing government in decades.Bolsonaro refused to concede defeat and some supporters have claimed the election was stolen, with people taking to social media and messaging platforms from Twitter, Telegram and TikTok to YouTube and Facebook, to organise protests.Brazilian Supreme Court Justice Alexandre de Moraes has ordered social media platforms to block users spreading anti-democratic propaganda.Telegram, TikTok, Twitter and YouTube did not immediately respond to requests for comment.Sunday's occupation of the government buildings had been planned for at least two weeks by Bolsonaro's supporters in groups on social media messaging platforms such as Telegram and Twitter, yet there was no move by security forces to prevent what one group called "the seizure of power by the people".Messages seen by Reuters throughout the week showed members of such groups organising meeting points in several cities around the country, from where chartered buses would leave for Brasilia, with the intention to occupy public buildings.During a demonstration by Trump supporters in January, 2021, social media companies were criticised for not doing enough. (Reporting by Supantha Mukherjee in Stockholm and Martin Coulter in London; Editing by Alexander Smith) \ No newline at end of file diff --git a/news/GOOG/2023.01.09/Facebook, YouTube remove content backing Brazil attack.txt b/news/GOOG/2023.01.09/Facebook, YouTube remove content backing Brazil attack.txt new file mode 100644 index 0000000000000000000000000000000000000000..7edb44bd7aab810f7f12ae5fc568875cad6d9610 --- /dev/null +++ b/news/GOOG/2023.01.09/Facebook, YouTube remove content backing Brazil attack.txt @@ -0,0 +1,45 @@ +(Adds comments from YouTube, Telegram)STOCKHOLM/LONDON, Jan 9 (Reuters) - Facebook parent Meta +and Google's video platform YouTube said on +Monday they were removing content supporting or praising the +weekend ransacking of Brazilian government buildings by +anti-democratic demonstrators.Tens of thousands of supporters of Brazil's far-right former +President Jair Bolsonaro smashed presidential palace windows, +flooded parts of Congress with a sprinkler system and ransacked +rooms in the Supreme Court in a more than three hour uprising."In advance of the election, we designated Brazil as a +temporary high-risk location and have been removing content +calling for people to take up arms or forcibly invade Congress, +the Presidential palace and other federal buildings," a Meta +spokesman said."We are also designating this as a violating event, which +means we will remove content that supports or praises these +actions," he said. "We are actively following the situation and +will continue removing content that violates our policies."Leftist President Luiz Inacio Lula da Silva took office on +Jan. 1 after defeating Bolsonaro in a runoff election in +October, ending Brazil's most right-wing government in decades.Bolsonaro refused to concede defeat and some supporters have +claimed the election was stolen, with people taking to social +media and messaging platforms from Twitter, Telegram +and TikTok to YouTube and Facebook, to organise protests.A spokesperson for YouTube told Reuters that the +video-sharing company was "closely tracking" the situation in +Brazil, where social media platforms have been ordered to block +users spreading anti-democratic propaganda."Our Trust and Safety team is removing content that violates +our Community Guidelines, including livestreams and videos +inciting violence," the spokesperson said."In addition, our systems are prominently surfacing +authoritative content on our homepage, at the top of search +results, and in recommendations. We will remain vigilant as the +situation continues to unfold."'PROACTIVE MONITORING'A representative for Telegram said the private messaging app +was working with Brazil's government and fact checking groups +to prevent the spread of content inciting violence."Telegram is a platform that supports the right to free +speech and peaceful protest. Calls to violence, however, are +explicitly forbidden on our platform," a spokesperson said."Our moderators use a combination of proactive monitoring in +public-facing parts of our platform in addition to accepting +user reports, in order to remove such content."TikTok and Twitter did not immediately respond to requests +for comment.Sunday's occupation of the government buildings had been +planned for at least two weeks by Bolsonaro's supporters in +groups on social media messaging platforms such as Telegram and +Twitter, yet there was no move by security forces to prevent +what one group called "the seizure of power by the people".Messages seen by Reuters throughout the week showed members +of such groups organising meeting points in several cities +around the country, from where chartered buses would leave for +Brasilia, with the intention to occupy public buildings.Social media companies were criticised for not doing enough +when supporters of former U.S. President Donald Trump invaded +the U.S. Capitol two years ago.(Reporting by Supantha Mukherjee in Stockholm and Martin +Coulter in London; Editing by Alexander Smith) \ No newline at end of file diff --git a/news/GOOG/2023.01.09/MarketScreener's World Press Review: January 9 .txt b/news/GOOG/2023.01.09/MarketScreener's World Press Review: January 9 .txt new file mode 100644 index 0000000000000000000000000000000000000000..a18daa60dbe71ccbe5d0e47a40fb24915a0465db --- /dev/null +++ b/news/GOOG/2023.01.09/MarketScreener's World Press Review: January 9 .txt @@ -0,0 +1,12 @@ + +Softbank, Hargreaves Lansdown, Walt Disney, Goldman Sachs, Deere & Co, Eisai & Biogen, Tesla, Amazon, Apple, Alphabet and Meta, General Electric & GE healthcare, Johnson & Johnson, Baxter, Novartis, Carnival, Royal Caribbean, Norwegian Cruise, Comcast, Adobe, Rakuten and SK Bioscience feature in this press review! + + + + +  +  + +  +  +  diff --git a/news/GOOG/2023.01.09/Nasdaq leads Wall St higher as interest rate worries ease.txt b/news/GOOG/2023.01.09/Nasdaq leads Wall St higher as interest rate worries ease.txt new file mode 100644 index 0000000000000000000000000000000000000000..225779d0e7722a0258afe0c68e0d52ffae81b6d3 --- /dev/null +++ b/news/GOOG/2023.01.09/Nasdaq leads Wall St higher as interest rate worries ease.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window)*Amazon up as Jefferies sees easing costs*Alibaba climbs as Ant Group's Jack Ma to cede control*Macy's, Lululemon drop on holiday-quarter warnings*Indexes up: Dow 0.39%, S&P 0.85%, Nasdaq 1.52%Jan 9 (Reuters) - The tech-heavy Nasdaq led gains among +the main Wall Street indexes on Monday, boosted by shares of +Amazon and Tesla, while signs of a cooling labor market +supported bets of a slower pace of interest rate hikes by the +Federal Reserve.Amazon.com Inc rose 3.4% after Jefferies said it +saw cost pressures easing for the e-commerce giant in the second +half of the year.Tesla Inc climbed 7.5% after the electric-vehicle +maker indicated longer waiting times for some versions of the +Model Y in China, signaling the recent price cuts could be +stoking demand.Other rate-sensitive growth stocks like Apple Inc +and Alphabet Inc gained about 1% each as U.S. Treasury +yields declined.The gains pushed technology to the top of the +major S&P 500 sector indexes list. The S&P 500 growth index +was up 3.6%, outperforming a 0.7% rise in its value peers +.The benchmark S&P 500 and the Nasdaq closed +the week higher on Friday after a moderation in wage increases +and a decline in U.S. services activity in December buoyed hopes +of a less hawkish stance from the Fed as well as a soft landing +for the U.S. economy."The number of jobs created is working its way down slowly +and wages are starting to calm down. Both of those are important +for inflation coming under control, without necessarily +careening the U.S economy to a recession," said Art Hogan, chief +market strategist at B. Riley Financial.The highly awaited U.S. Labor Department's inflation report +on Thursday is expected to show some moderation in year-on-year +consumer prices in December.Money market bets show 75% odds of a 25-basis point hike in +the Fed's February policy meeting, with the terminal rate +expected just below 5% by June.Other economic data such as weekly jobless claims and the +University of Michigan's consumer sentiment report will also be +in focus this week, as big U.S. banks kick off the quarterly +earnings season on Friday.A slew of Fed officials including Chair Jerome Powell are +due to speak this week, with investors parsing their commentary +for more clues on the rate-hike trajectory.U.S.-listed shares of Alibaba Group Holding Ltd +rose 2.7% on news that Ant Group's founder Jack Ma will give up +control of the Chinese fintech giant in an overhaul.At 9:58 a.m. ET, the Dow Jones Industrial Average was +up 132.40 points, or 0.39%, at 33,763.01, the S&P 500 was +up 33.17 points, or 0.85%, at 3,928.25, and the Nasdaq Composite +was up 160.39 points, or 1.52%, at 10,729.69.Macy's Inc and Lululemon Athletica Inc +dropped 8.7% and 10.3%, respectively, following dour +holiday-quarter forecasts from both the retailers.Other retailers such as Kohl's Corp and Nordstrom +Inc also took a hit, down 4.3% and 2.9%, respectively.Advancing issues outnumbered decliners for a 3.68-to-1 ratio +on the NYSE and a 2.15-to-1 ratio on the Nasdaq.The S&P index recorded 10 new 52-week highs and two new +lows, while the Nasdaq recorded 95 new highs and 14 new lows. +(Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas +in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/GOOG/2023.01.09/Nasdaq leads gains on Wall Street as interest rate worries ease.txt b/news/GOOG/2023.01.09/Nasdaq leads gains on Wall Street as interest rate worries ease.txt new file mode 100644 index 0000000000000000000000000000000000000000..cde02fb37a92360a3101361136d34bc1be12f0af --- /dev/null +++ b/news/GOOG/2023.01.09/Nasdaq leads gains on Wall Street as interest rate worries ease.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Amazon up as Jefferies sees easing costs*Alibaba climbs as Ant Group's Jack Ma to give up control*Macy's, Lululemon drop on holiday-quarter warnings*Indexes up: Dow 0.68%, S&P 1.24%, Nasdaq 2.03%Jan 9 (Reuters) - The Nasdaq rose more than 2% on Monday +with Big Tech and growth stocks spearheading gains as recent +signs of a cooling labor market supported bets of a slower pace +of interest rate hikes by the Federal Reserve.Megacap growth stocks Apple Inc, Alphabet Inc +and Microsoft Corp gained over 2% each as +U.S. Treasury yields declined.Amazon.com Inc rose 3.4% after Jefferies said it +saw cost pressures easing for the e-commerce giant in the second +half of the year.Tesla Inc climbed 7% after the electric-vehicle +maker indicated longer waiting times for some versions of the +Model Y in China, signaling the recent price cuts could be +stoking demand.The gains pushed technology to the top of the +major S&P 500 sector indexes list, while consumer discretionary +stocks also rose with a near 2% gain.The benchmark S&P 500 and the Nasdaq closed +the week higher on Friday after a moderation in wage increases +and a decline in U.S. services activity in December buoyed hopes +of a less hawkish stance from the Fed as well as a soft landing +for the U.S. economy."The number of jobs created is working its way down slowly +and wages are starting to calm down. Both of those are important +for inflation coming under control, without necessarily +careening the U.S economy to a recession," said Art Hogan, chief +market strategist at B. Riley Financial.The highly awaited U.S. Labor Department's inflation report +on Thursday is expected to show some moderation in year-on-year +consumer prices in December.Money market bets show 79% odds of a 25-basis point hike in +the Fed's February policy meeting, with the terminal rate +expected at 4.92% by June.The CPI report would be crucial in shaping expectations for +when the Fed is close to the end of its tightening cycle and is +likely to show inflation is starting to move down, Jon Maier, +chief investment officer at Global X ETFs, said.Other economic data such as weekly jobless claims and the +University of Michigan's consumer sentiment report will also be +in focus this week, as big U.S. banks kick off the quarterly +earnings season on Friday.A slew of Fed officials including Chair Jerome Powell are +due to speak this week, with investors ready to parse their +commentary for more clues on the rate-hike trajectory.U.S.-listed shares of Alibaba Group Holding Ltd +rose 3.7% on news that Ant Group's founder Jack Ma will give up +control of the Chinese fintech giant in an overhaul.At 11:41 a.m. ET, the Dow Jones Industrial Average +was up 229.32 points, or 0.68%, at 33,859.93, the S&P 500 +was up 48.49 points, or 1.24%, at 3,943.57, and the Nasdaq +Composite was up 214.41 points, or 2.03%, at 10,783.70.Macy's Inc and Lululemon Athletica Inc fell +7.7% and 7.9%, respectively, following dour holiday-quarter +forecasts from both the retailers.Advancing issues outnumbered decliners for a 4.45-to-1 ratio +on the NYSE and a 2.54-to-1 ratio on the Nasdaq.The S&P index recorded 12 new 52-week highs and two new +lows, while the Nasdaq recorded 107 new highs and 18 new lows. +(Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas +in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/GOOG/2023.01.10/Capitalgainsreport Sector Spotlight : Addressing The Problems and Solutions Of Cyberbullyi...txt b/news/GOOG/2023.01.10/Capitalgainsreport Sector Spotlight : Addressing The Problems and Solutions Of Cyberbullyi...txt new file mode 100644 index 0000000000000000000000000000000000000000..f5f610c6c393c48825b291a8ca4d06be90e9bf27 --- /dev/null +++ b/news/GOOG/2023.01.10/Capitalgainsreport Sector Spotlight : Addressing The Problems and Solutions Of Cyberbullyi...txt @@ -0,0 +1 @@ +Cyberbullying is a major concern that takes place on social media platforms, and affects teens and parents.Cyberbullying is a type of bullying in which one or more individuals use digital technologies to intentionally and repeatedly cause harm to another person.According to a Pew Research survey, nearly half of U.S. teens ages 13-17 (46%) report experiencing at least one of six different forms of cyberbullying behaviors.These include:- Offensive name calling- Spreading false rumors- Receiving explicit images that were not asked for- Constantly being asked where they are by someone other than a parent- Physical ThreatsHaving explicit images of them shared without their consentThis type of bullying is tied to major social media networks such as Youtube, a subsidiary of Alphabet Inc. (NASDAQ: GOOG), Facebook, and Instagram owned by Meta Inc. (NASDAQ: META), Twitter, and Snapchat (NYSE: SNAP).With teen use of social media on the rise, the problem of cyberbullying has cemented itself onto these social media platforms, leaving government, school administrators, and parents scrambling for an answer.Addressing The ProblemThe biggest social media sites are aware that cyberbullying is a serious problem that ultimately drives users away from their platforms. According to research, Instagram has the highest rate of cyberbullying of any single social media platform.According to a BBC survey of 10,000 people between the ages of 12 and 20, 13% of users fear cyberbullying. Many cite a person's physical appearance as a probable target of abuse. Although Instagram has a system in place for preventing and identifying cyberbullying, deleting a photo or text message cannot prevent the bullying from occurring. However, it can help stop it.By providing enhanced notification filtering, Twitter combats online cyberbullying. The ability to muffle the content is available, abusive tweets are capable of being "collapsed." Machine learning analytics can be used to stop the creation of new abusive accounts.While the social media platforms continue seek and implement solutions, there is one company known as 'the internet anti-bullying company', RAADR Inc.RAADR Inc.RAADR Inc. (OTC: RDARD) publishes software that protects children who use social media and the internet. RAADR's products allow children, parents, school districts, and law enforcement to monitor bullying and other threatening behavior across social media and the Metaverse in real time.RAADR Parental 2.0, which is a parental monitoring and student reporting social media app, allows parents to protect children by using real time monitoring across all major social media platforms and the Metaverse to report cyberbullying, suicidal thoughts and threatening behavior.Tools of the application include image recognition, keyword recognition, site filtering, and monitoring of children across multiple social media platforms across the internet. It also offers real-time alerts to users.Investors should pay close attention as RDARD anticipates greater than 100,000 downloads of its anti-cyberbullying app in the upcoming months. On top of that, the company says that number could exceed 500,000 downloads as the app gets organic publicity.In a recent letter to shareholders, RAADR CEO, Jacob DiMartino said, "Although we can acknowledge within the foundation of our corporate mission that we can't eliminate all social media bullying, we are steadfast in our belief that our App will be a front-line tool in recognizing and combating online bullying across all forms of social media."ConclusionChildren's use of social media is not going anywhere, and in fact, continues to rise. According to a recent study conducted by www.security.org, over 21% percent of the kids studied between the ages of 10 and 18 have been cyberbullied.Social media companies have parts in place to help prevent and mitigate the damage caused by cyberbullying, but still struggle to get at the deeper root of the issue, which has left the door open for innovative companies like RAADR (OTC: RDARD) to come in and fix the issue.As pressure from parents, teachers, administrators, and the government continues to grow, it is clear that cyberbullying is an issue that needs to be addressed. Investors looking to diversify their portfolio with a socially conscious company should pay close attention to the future of RAADR.Disclaimers: The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, assumptions, objectives, goals, assumptions of future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements, indicating certain actions & quotes; may, could or might occur Understand there is no guarantee past performance is indicative of future results. Investing in micro-cap or growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor's investment may be lost or due to the speculative nature of the companies profiled. CapitalGainsReport (CGR) is responsible for the production and distribution of this content. CGR is not operated by a licensed broker, a dealer, or a registered investment advisor. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. CGR authors, contributors, or its agents, may be compensated for preparing research, video graphics, and editorial content. CGR has been compensated by Lightwave Partners to produce and syndicate this content for RDARD. As part of that content, readers, subscribers, and webs are expected to read the full disclaimers and financial disclosure statement that can be found on our website.Media ContactCompany Name: Capital Gains ReportContact Person: Mark McKelvieEmail: markrmckelvie@gmail.comCity: NAPLESState: FLORIDACountry: United StatesWebsite: https://capitalgainsreport.com/Source: www.abnewswire.com.(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE \ No newline at end of file diff --git a/news/GOOG/2023.01.10/Chronosphere raises additional $115 mln at $1.6 bln valuation.txt b/news/GOOG/2023.01.10/Chronosphere raises additional $115 mln at $1.6 bln valuation.txt new file mode 100644 index 0000000000000000000000000000000000000000..8b034f08ea2039d134b3b4095e8604d2616ba4e6 --- /dev/null +++ b/news/GOOG/2023.01.10/Chronosphere raises additional $115 mln at $1.6 bln valuation.txt @@ -0,0 +1,17 @@ +Jan 10 (Reuters) - Chronosphere has raised an additional +$115 million in funding from new investors Alphabet Inc's GV +and Geodesic Capital, the cloud-based data +organization platform said on Tuesday, valuing the company at +$1.6 billion.The latest round saw participation from existing investors +Addition, Founders Fund, General Atlantic and Greylock, among +others, and brings the company's total funding to $343 million.The fundraise comes at a challenging time for the venture +investing market in the United States, which over the past year +pulled back from late-stage companies as worries of a looming +recession and fast-rising interest rates dried up exits.The cloud native data manager, which counts online brokerage +Robinhood Markets and payments giant Visa Inc +among its enterprise customers, said it will use the capital to +support the go-to-market efforts of its platform.The extended round adds to Chronosphere's series C raise +from last year, where it had raised $200 million led by private +equity giant General Atlantic. +(Reporting by Anirban Chakroborti in Bengaluru; Editing by +Shailesh Kuber) \ No newline at end of file diff --git a/news/GOOG/2023.01.10/Exclusive-EU wants details of Big Tech, telcos investment plans - source.txt b/news/GOOG/2023.01.10/Exclusive-EU wants details of Big Tech, telcos investment plans - source.txt new file mode 100644 index 0000000000000000000000000000000000000000..4c1ed4c0b1e40fcf28993c5f2129a29a95f65e9a --- /dev/null +++ b/news/GOOG/2023.01.10/Exclusive-EU wants details of Big Tech, telcos investment plans - source.txt @@ -0,0 +1 @@ +Deutsche Telekom, Orange, Telefonica, Telecom Italia and the big operators say such a move is all about a fair share contribution as the six largest content providers account for just over half of data internet traffic.Alphabet Inc unit Google, Netflix Inc, Meta, Amazon.com Inc and other tech giants say the idea amounts to an internet traffic tax that could undermine Europe's net neutrality rules treating all users equally.The Commission plans to launch a public consultation with a lengthy questionnaire next week, although the timing may still change, the person said. It will likely last about 12 weeks before the Commission drafts legislation that EU countries and EU lawmakers will need to thrash out before it can become law.The Commission will ask Big Tech and telecoms what they are investing in, how this will evolve and whether there is an investment gap, the person said.They will be asked on their views on a shift into cloud infrastructure and the investments needed for this as regulators want the debate to go beyond spending on cables and tower.Regulators also want to know about the relationship between Big Tech and telecoms providers.The Commission will ask consultation participants about the regulatory responses in other parts of the world on network fees, such as in South Korea and Australia, and the lessons learned from these. (Reporting by Foo Yun Chee; Editing by Josie Kao)By Foo Yun Chee \ No newline at end of file diff --git a/news/GOOG/2023.01.10/Exclusive-Google warns Android growth in India will stall due to antitrust order.txt b/news/GOOG/2023.01.10/Exclusive-Google warns Android growth in India will stall due to antitrust order.txt new file mode 100644 index 0000000000000000000000000000000000000000..7b50aa909938183452a33ef6983f52d9e29dc25d --- /dev/null +++ b/news/GOOG/2023.01.10/Exclusive-Google warns Android growth in India will stall due to antitrust order.txt @@ -0,0 +1 @@ +The Competition Commission of India (CCI) in October fined Alphabet Inc-owned Google $161 million for exploiting its dominant position in Android, which powers 97% of smartphones in India, and asked it to change restrictions imposed on smartphone makers related to pre-installing apps.Google has so far said the CCI decision will force it to change its long-standing business model, but its Indian Supreme Court filing for the first time quantifies the impact and details the changes the company will need to make.Google will need to modify its existing contracts, introduce new license agreements and alter its existing arrangements with more than 1,100 device manufacturers and thousands of app developers, it says."Tremendous advancement in growth of an ecosystem of device manufacturers, app developers and users is at the verge of coming to a halt because of the remedial directions," stated Google's filing, which is not public."Google will be required to make far-reaching changes to the Android mobile platform which has been in place for the last 14-15 years."A Google spokesperson declined to comment.Google has been concerned about the Indian decision as the remedies ordered are seen as more sweeping than the European Commission's landmark 2018 ruling for imposing unlawful restrictions on Android mobile device makers. Google has challenged the record $4.3 billion fine in that case.Google licenses its Android system to smartphone makers, but critics say it imposes restrictions like mandatory pre-installation of its own apps that are anti-competitive. The company argues such agreements help keep Android free.The CCI in October ordered Google to not prohibit un-installing of its apps by Android phone users in India -- currently, one can't delete apps such as Google Maps or YouTube from their Android phones when they come pre-installed.The CCI also said Google's licensing of its Play Store "shall not be linked with the requirement of pre-installing" Google search services, the Chrome browser, YouTube or any other Google applications. "No other jurisdiction has ever asked for such far-reaching changes based on similar conduct," Google said in its court submissions.The company has asked the Supreme Court to put on hold the remedial measures ordered by the CCI, which kick in from Jan. 19, court documents dated Jan. 7 showed. The case will likely be heard in the coming days. Google has also alleged in its legal filings that the CCI's investigation unit copied parts of a European 2018 ruling against the U.S. firm, Reuters has reported. The CCI and the European Commission have not responded to those allegations. (Reporting by Aditya Kalra, Arpan Chaturvedi and Munsif Vengattil in New Delhi; Editing by Susan Fenton)By Aditya Kalra, Arpan Chaturvedi and Munsif Vengattil \ No newline at end of file diff --git a/news/GOOG/2023.01.10/GM, Ford, Google partner to promote 'virtual' power plants.txt b/news/GOOG/2023.01.10/GM, Ford, Google partner to promote 'virtual' power plants.txt new file mode 100644 index 0000000000000000000000000000000000000000..033a2bf8e19206e5a92c2b1e037590ff8e15475a --- /dev/null +++ b/news/GOOG/2023.01.10/GM, Ford, Google partner to promote 'virtual' power plants.txt @@ -0,0 +1 @@ +Energy transition nonprofit RMI will host the initiative, the Virtual Power Plant Partnership (VP3), which will also aim to shape policy for promoting the use of the systems, the companies said.Virtual power plants pool together thousands of decentralized energy resources like electric vehicles or electric heaters controlled by smart thermostats.With permission from customers, they use advanced software to react to electricity shortages with such techniques as switching thousands of households' batteries, like those in EVs, from charge to discharge mode or prompting electricity-using devices, such as water heaters, to back off their consumption.VPPs are positioned for explosive growth in the United States, where the 2021 Inflation Reduction Act has created or enlarged tax incentives for electric cars, electric water heaters, solar panels and other devices whose output and consumption can be coordinated to smooth grid load.RMI estimates that by 2030, VPPs could reduce U.S. peak demand by 60 gigawatts, the average consumption of 50 million households, and by more than 200 GW by 2050."Virtual power plants will enable grid planners and grid operators to (better manage) growing electricity demand from vehicles, from buildings and from industry, and make sure that the grid can stay reliable even in the face of ongoing extreme weather challenges and aging physical infrastructure," said Mark Dyson, managing director with the carbon-free electricity program at RMI.Rob Threlkeld, director of global energy strategy at General Motors, told Reuters that VP3 would be able to "show that EVs can become a reliable asset to the retail utility and or the retail transmission operator" and "can be an asset to a homeowner and to fleet customers."VPPs have already improved grid reliability in such countries as Germany and Australia and in some U.S. states.During an extreme heat wave last August, wholesale market operator California Independent System Operator avoided blackouts by calling on all available resources, including VPPs, to dispatch electricity. Google Nest smart thermostats contributed to easing the load."That is increasingly going to be required to make sure that the grid remains resilient, that we avoid blackouts and that we enable the grid to become cleaner and greener," said Parag Chokshi, director of Google's Nest Renew.Other founding members of VP3 include Ford, SunPower and Sunrun. (Reporting by Valerie Volcovici; Editing by Bradley Perrett)By Valerie Volcovici \ No newline at end of file diff --git a/news/GOOG/2023.01.10/Germany's BioNTech buys British AI startup InstaDeep.txt b/news/GOOG/2023.01.10/Germany's BioNTech buys British AI startup InstaDeep.txt new file mode 100644 index 0000000000000000000000000000000000000000..733e6c9dda5b6c704cf00cc015561cf8b9856c3a --- /dev/null +++ b/news/GOOG/2023.01.10/Germany's BioNTech buys British AI startup InstaDeep.txt @@ -0,0 +1,30 @@ +Jan 10 (Reuters) - BioNTech SE has agreed to +acquire British artificial intelligence (AI) startup InstaDeep +for up to 562 million pounds ($682 million) to speed up its +biotech research and manufacturing capabilities.Under the German vaccine maker's largest takeover deal to +date, BioNTech is to pay 362 million pounds upfront, in a mix of +cash and an unspecified number of BioNTech shares, and up to 200 +million pounds contingent on InstaDeep's future performance."Our goal with the acquisition is to integrate AI seamlessly +in all aspects of our work - from target discovery, lead +discovery to manufacturing and delivery of our products," +BioNTech co-founder and Chief Executive Ugur Sahin said at the +J.P. Morgan healthcare conference on Tuesday.Sahin also cited BioNTech's partnership last week with +the U.K. government for development of personalized cancer +therapies and how AI would help in that.The transaction adds to a slew of deals as the industry +meets in San Francisco for the conference this week.With estimated COVID-19 vaccine revenues of up to 17 billion +euros ($18.2 billion) in 2022 alone, BioNTech is well funded to +advance its work on new cancer immunotherapies and on other +vaccines, and AI will play a growing role.BioNTech was part of a group of investors who participated +in a $100 million financing round at InstaDeep a year ago. It +declined to say precisely how much it had invested then or what +share of InstaDeep it held.BioNTech said it was already involved in dozens of joint +projects with InstaDeep, including efforts unveiled last year to +quickly determine whether a new coronavirus variant is a cause +for concern.InstaDeep, with about 240 staff, will continue to provide +its AI and machine learning services to other companies, +including Google and Nvidia, the statement +added. +($1 = 0.9325 euros) +($1 = 0.8244 pounds) +(Reporting by Ludwig Burger, Pratik Jain and Leroy Leo; Editing +by Shinjini Ganguli, Shailesh Kuber and Maju Samuel) \ No newline at end of file diff --git a/news/GOOG/2023.01.10/Google warns Android growth in India will stall due to antitrust order.txt b/news/GOOG/2023.01.10/Google warns Android growth in India will stall due to antitrust order.txt new file mode 100644 index 0000000000000000000000000000000000000000..e02f5f24617abf3cdc0f3f2640d3936adee2ae93 --- /dev/null +++ b/news/GOOG/2023.01.10/Google warns Android growth in India will stall due to antitrust order.txt @@ -0,0 +1,43 @@ +(Repeats story that ran earlier, with no changes)NEW DELHI, Jan 10 (Reuters) - The growth of Google's +Android ecosystem is on the brink of stalling in India due to an +antitrust order that asks the company to change how it markets +the platform, the U.S. company has said in a Supreme Court +challenge seen by Reuters.The Competition Commission of India (CCI) in October fined +Alphabet Inc-owned Google $161 million for exploiting +its dominant position in Android, which powers 97% of +smartphones in India, and asked it to change restrictions +imposed on smartphone makers related to pre-installing apps.Google has so far said the CCI decision will force it to +change its long-standing business model, but its Indian Supreme +Court filing for the first time quantifies the impact and +details the changes the company will need to make.Google will need to modify its existing contracts, introduce +new license agreements and alter its existing arrangements with +more than 1,100 device manufacturers and thousands of app +developers, it says."Tremendous advancement in growth of an ecosystem of device +manufacturers, app developers and users is at the verge of +coming to a halt because of the remedial directions," stated +Google's filing, which is not public."Google will be required to make far-reaching changes to the +Android mobile platform which has been in place for the last +14-15 years."A Google spokesperson declined to comment.Google has been concerned about the Indian decision as the +remedies ordered are seen as more sweeping than the European +Commission's landmark 2018 ruling for imposing unlawful +restrictions on Android mobile device makers. Google has +challenged the record $4.3 billion fine in that case.Google licenses its Android system to smartphone makers, but +critics say it imposes restrictions like mandatory +pre-installation of its own apps that are anti-competitive. The +company argues such agreements help keep Android free.The CCI in October ordered Google to not prohibit +un-installing of its apps by Android phone users in India -- +currently, one can't delete apps such as Google Maps or YouTube +from their Android phones when they come pre-installed.The CCI also said Google's licensing of its Play Store +"shall not be linked with the requirement of pre-installing" +Google search services, the Chrome browser, YouTube or any other +Google applications."No other jurisdiction has ever asked for such far-reaching +changes based on similar conduct," Google said in its court +submissions.The company has asked the Supreme Court to put on hold the +remedial measures ordered by the CCI, which kick in from Jan. +19, court documents dated Jan. 7 showed. The case will likely be +heard in the coming days.Google has also alleged in its legal filings that the CCI's +investigation unit copied parts of a European 2018 ruling +against the U.S. firm, Reuters has reported. The CCI and the +European Commission have not responded to those allegations. +(Reporting by Aditya Kalra, Arpan Chaturvedi and Munsif +Vengattil in New Delhi; Editing by Susan Fenton) \ No newline at end of file diff --git a/news/GOOG/2023.01.11/Alphabet : 01.11.2023 Alphabet Announces Date of Fourth Quarter 2022 Financial Results Con...txt b/news/GOOG/2023.01.11/Alphabet : 01.11.2023 Alphabet Announces Date of Fourth Quarter 2022 Financial Results Con...txt new file mode 100644 index 0000000000000000000000000000000000000000..286ffa898a784eace25645d7788460ea7e40ea98 --- /dev/null +++ b/news/GOOG/2023.01.11/Alphabet : 01.11.2023 Alphabet Announces Date of Fourth Quarter 2022 Financial Results Con...txt @@ -0,0 +1,45 @@ + + + Alphabet Announces Date of Fourth Quarter 2022 Financial Results Conference Call + + + MOUNTAIN VIEW, Calif. (January 11, 2023) - Alphabet Inc. (NASDAQ: GOOG, GOOGL) will hold its quarterly conference call to discuss fourth quarter 2022 financial results on Thursday, February 2, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). + + + The live webcast of the earnings conference call can be accessed here. A replay of the webcast will be available through the same link following the conference call. Please visit the Investor Relations website at abc.xyz/investor on February 2, 2023 to view the earnings release before the conference call. + + + About Alphabet Inc. + + + Larry Page and Sergey Brin founded Google in September 1998. Since then, the company has grown to more than 185,000 employees worldwide, with a wide range of popular products and platforms like Search, Maps, Ads, Gmail, Android, Chrome, Google Cloud and YouTube. In October 2015, Alphabet became the parent holding company of Google. + + + Contact + + + Investor Relations: + investor-relations@abc.xyz + + + Media: + press@abc.xyz + +Attachments + + + Original Link + + + Original Document + + + Permalink + + + + +Disclaimer +Alphabet Inc. published this content on 11 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 January 2023 21:07:41 UTC. + + diff --git a/news/GOOG/2023.01.11/Alphabet's health science unit cuts over 200 jobs.txt b/news/GOOG/2023.01.11/Alphabet's health science unit cuts over 200 jobs.txt new file mode 100644 index 0000000000000000000000000000000000000000..e4e8f35a2879d949b155d7fa27d44b1aff840e37 --- /dev/null +++ b/news/GOOG/2023.01.11/Alphabet's health science unit cuts over 200 jobs.txt @@ -0,0 +1,17 @@ +Jan 11 (Reuters) - Alphabet Inc's health +science unit, Verily Life Sciences, said on Wednesday it had +laid off over 200 employees, or about 15% of its workforce, +marking the first time in at least six years when Alphabet or +its affiliate has announced job cuts.The move follows similar retrenchment exercises in corporate +America, concentrated among technology firms and banks, as +companies look to curtail spending in a tough economy."We will advance fewer initiatives with greater resources," +Verily said in a blog post.It has stopped development on analytics tool Verily Value +Suite and some early-stage products, the company said, adding +that some employees will also be moved internally.Verily, which was born out of the Google X research program +in 2015, raised $1 billion from Alphabet in September last year. +At the time it had announced Stephen Gillett, a former +president, taking over as chief executive officer and co-founder +Andy Conrad becoming executive chairman of the company's board.Access, an Alphabet unit that houses Google Fiber, laid off +some employees in 2016. +(Reporting by Yuvraj Malik in Bengaluru; Editing by Maju +Samuel) \ No newline at end of file diff --git a/news/GOOG/2023.01.11/Biden says Republicans, Democrats should unite against Big Tech 'abuses' -WSJ.txt b/news/GOOG/2023.01.11/Biden says Republicans, Democrats should unite against Big Tech 'abuses' -WSJ.txt new file mode 100644 index 0000000000000000000000000000000000000000..db8db8fa71bc448b38c5b6203b3be52aea0ac7aa --- /dev/null +++ b/news/GOOG/2023.01.11/Biden says Republicans, Democrats should unite against Big Tech 'abuses' -WSJ.txt @@ -0,0 +1,23 @@ +Jan 11 (Reuters) - U.S. President Joe Biden said in an +opinion piece in the Wall Street Journal that Democrats and +Republicans need to come together to pass strong bipartisan +legislation in order to hold major tech companies accountable.Most importantly, Biden said he wanted to see "serious +federal protections for Americans' privacy," including putting +limits on how much data like location, biometrics and health +information can be collected. He also highlighted the specific +risk to children."We must hold social-media companies accountable for the +experiment they are running on our children for profit," he +wrote, citing young people's struggles with bullying, violence, +trauma and mental health.He also urged a reform of Section 230 of the Communications +Decency Act to force tech companies to "take responsibility for +the content they spread and the algorithms they use."Both Republicans and Democrats have spent much of the past +several years probing different aspects of the tech sector, +largely agreeing that there are problems with the power of +Alphabet's Google, Meta's Facebook and others +while largely disagreeing on how to address those problems.In a statement following the release of the opinion piece, +Democratic Senator Amy Klobuchar said she would continue to push +for passage of bipartisan legislation she sponsored to bar the +companies from favoring their own businesses in search results, +among other measures. +(Reporting by Rishabh Jaiswal in Bengaluru and Diane Bartz in +Washington; Editing by Lisa Shumaker and Alexandra Alper) \ No newline at end of file diff --git a/news/GOOG/2023.01.11/German cartel office issues objections to Google data processing.txt b/news/GOOG/2023.01.11/German cartel office issues objections to Google data processing.txt new file mode 100644 index 0000000000000000000000000000000000000000..40b1ba397d4e2a946410f61407c778cba8b04390 --- /dev/null +++ b/news/GOOG/2023.01.11/German cartel office issues objections to Google data processing.txt @@ -0,0 +1 @@ +The cartel office sent parent company Alphabet, Google Ireland Ltd and Google Germany GmbH a preliminary legal assessment on December 23, the regulator said in a statement.It said users were not currently given sufficient choice as to whether and to what extent they agree to the far-reaching processing of their data across services.A spokesperson for Google said the company would continue to engage constructively with the German regulator to try to resolve its concerns."People expect us to operate our business responsibly -- by both maintaining product experiences that put users first and updating our services continuously to meet the expectations of regulators," the spokesperson added. (Reporting by Foo Yun Chee, Writing by Rachel More; Editing by Paul Carrel) \ No newline at end of file diff --git "a/news/GOOG/2023.01.11/Google parent alphabet files redacted version of motion to dismi\342\200\246.txt" "b/news/GOOG/2023.01.11/Google parent alphabet files redacted version of motion to dismi\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..d9051dbe152a90f082457b231f8e8de7a00179fc --- /dev/null +++ "b/news/GOOG/2023.01.11/Google parent alphabet files redacted version of motion to dismi\342\200\246.txt" @@ -0,0 +1 @@ +GOOGLE PARENT ALPHABET FILES REDACTED VERSION OF MOTION TO DISMISS U.S. JUSTICE DEPARTMENT LAWSUIT AGAINST IT - COURT DOCUMENT \ No newline at end of file diff --git a/news/GOOG/2023.01.11/Google parent files redacted motion to dismiss U.S. federal antitrust lawsuit.txt b/news/GOOG/2023.01.11/Google parent files redacted motion to dismiss U.S. federal antitrust lawsuit.txt new file mode 100644 index 0000000000000000000000000000000000000000..5f23a4d5376fd170bb37972475f645a9ab3ca5f5 --- /dev/null +++ b/news/GOOG/2023.01.11/Google parent files redacted motion to dismiss U.S. federal antitrust lawsuit.txt @@ -0,0 +1 @@ +The filings on Wednesday show that the company is mounting a vigorous defense against the antitrust cases, which, if successful, could force the tech giant to spin off assets.In December, Google asked Judge Amit Mehta of the U.S. District Court for the District of Columbia to dismiss both the antitrust case that the Justice Department filed in 2020 along with 11 states as well as a related complaint brought by 35 states led by Colorado. The motions were sealed and redacted versions were filed on Wednesday. The Justice Department's lawsuit, filed by the Trump administration, alleged that Google violated antitrust law when it paid billions annually to Apple, LG Electronics Inc and other smartphone makers to ensure that Google search was the default.Google is facing additional allegations of antitrust violations from dozens of states. The lawsuit filed by Colorado and other, which was also filed in 2020, also alleges that Google illegally limits rivals' ability to operate its Search Ads 360 tool, used by advertisers to manage online marketing campaigns. It also argues that Google broke antitrust law to hamper rivals, such as travel-oriented websites.Google urged the judge to toss out the state lawsuit also on the grounds that the states failed to show evidence that they harmed competition, among others. Read more:Biden says Republicans, Democrats need to unite against Big Tech 'abuses' -WSJ (Reporting by Diane Bartz; Editing by Lisa Shumaker)By Diane Bartz \ No newline at end of file diff --git a/news/GOOG/2023.01.11/Wall St gains with all eyes on key inflation data.txt b/news/GOOG/2023.01.11/Wall St gains with all eyes on key inflation data.txt new file mode 100644 index 0000000000000000000000000000000000000000..16f6dec7110e9c2273964b2810270f896aae3a0f --- /dev/null +++ b/news/GOOG/2023.01.11/Wall St gains with all eyes on key inflation data.txt @@ -0,0 +1,46 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window)*Airlines gain as U.S. flights slowly resume after FAA +outage*Bed Bath & Beyond extends gains*Indexes up: Dow 0.30%, S&P 0.62%, Nasdaq 0.99%Jan 11 (Reuters) - Wall Street's main indexes rose on +Wednesday with investors keenly awaiting a crucial inflation +reading due later in the week for more clarity on the Federal +Reserve's rate hike trajectory.Nearly all the major S&P 500 sectors rose, with real estate +up 2.4% and in the lead, while consumer discretionary +and technology stocks gained 1.9% and 0.6%, +respectively.Alphabet Inc, Amazon.com Inc and Tesla +Inc were up between 2.2% and 4.3%, among the top boosts +to the S&P 500 and the tech-heavy Nasdaq.Gains in the megacap growth firms, which had lost between +39% and 65% in value last year, come as markets face renewed +optimism in 2023 on hopes that slowing inflationary pressures +could pave the way for a less hawkish stance from the U.S. +central bank.The highly awaited inflation report from the Labor +Department on Thursday is expected to show U.S. consumer prices +likely grew 6.5% year-on-year in December, moderating from a +7.1% rise in November."The tech leaders last year got beat up really bad and +people are now wondering, did we over-do it," said Joe Saluzzi, +co-manager of trading at Themis Trading."But you're going to need earnings to support more bullish +theory. The bar is a little bit lower (for earnings), which +could be decent for the stock market."This week marks the start of the earnings season for S&P 500 +companies, with Wall Street's biggest banks expected to report +lower quarterly profits amid risks of a recession due to +monetary policy tightening.Markets are hoping that the Fed could soon pause its rate +hiking cycle, though recent comments by some policymakers have +supported the view that the Fed needs to remain aggressive in +raising interest rates to fight inflation.Money market participants see a 75% chance the Fed will +raise the benchmark rate by 25 basis points to 4.50%-4.75% in +February, and see rates peaking at 4.94% by June.At 11:58 a.m. ET, the Dow Jones Industrial Average +was up 101.44 points, or 0.30%, at 33,805.54, the S&P 500 +was up 24.13 points, or 0.62%, at 3,943.38, and the Nasdaq +Composite was up 106.63 points, or 0.99%, at 10,849.26.Home goods retailer Bed Bath & Beyond Inc jumped +45.9%, after logging gains in the previous session despite bleak +quarterly results as retail investors speculated it could be a +potential acquisition target and as short-sellers closed out +bets.Shares of airlines such as American Airlines Group Inc +and Spirit Airlines Inc reversed premarket +losses to rise between 0.9% and 1.9% as U.S. flights were slowly +beginning to resume departures and a ground stop was lifted +after the Federal Aviation Administration scrambled to fix a +system outage overnight.Advancing issues outnumbered decliners for a 3.15-to-1 ratio +on the NYSE and a 1.97-to-1 ratio on the Nasdaq.The S&P index recorded 10 new 52-week highs and one new low, +while the Nasdaq recorded 56 new highs and 12 new lows. +(Reporting by Shubham Batra and Amruta Khandekar in Bengaluru; +Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/GOOG/2023.01.11/What are 'virtual' power plants?.txt b/news/GOOG/2023.01.11/What are 'virtual' power plants?.txt new file mode 100644 index 0000000000000000000000000000000000000000..a26b608b46e3ef21dd217fba7d39b9f13cce07fa --- /dev/null +++ b/news/GOOG/2023.01.11/What are 'virtual' power plants?.txt @@ -0,0 +1 @@ +And they could be one solution to a looming global energy crisis.But what are virtual power plants - and why are companies like Google and GM getting involved?Virtual power plants - or VPPs - are pools of decentralized energy resources.Resources like electric vehicles - or electric heaters controlled by smart thermostats.The VPPs will - with permission from customers - use advanced software to react to electricity shortages by backing off the consumption of those resources. It'll use techniques like switching thousands of EVs from charge to discharge mode. Or prompt electrical heaters to lower their output.The goal is to back off on unnecessary energy consumption to ease loads on electricity grids when supply is short... and avoid disaster.Here's Mark Dyson, the managing director of the carbon-free electricity program at the energy transition nonprofit RMI."We've seen on display over the last few years significant existential threats to the reliability and resilience of our power system in the United States with blackouts in Texas, blackouts across the Eastern Interconnection. (Flash) We have a reliability crisis in this country, and we need every tool at our disposal, including virtual power plants, to help address it."RMI will be hosting a new initiative known as the Virtual Power Plant Partnerships, or VP3.It'll be working with big names like GM, Ford, Google who say they want to establish standards for scaling up the usage of VPPs - together."Each of our partners, each of our members has their own business around virtual power plants. What we seek to do in VP3 is use the insights, the experience, the lessons learned from those companies and other companies around the country and around the world to understand how to grow the market for any kind of company who wants to participate in the VPP market."VPPs have already improved grid reliability in places like Germany and Australia.They're poised for explosive growth in the United States thanks to new or enlarged tax incentives for sustainable energy efforts in 2021's Inflation Reduction Act."Our goal is to educate policymakers and regulators on the opportunity that virtual power plants present in the United States to improve reliability, improve affordability, and accelerate decarbonization of the U.S. power grid."And RMI estimates that by 2030, VPPs could reduce U.S. peak demand by 60 gigawatts...That's the average consumption of 50 million households. \ No newline at end of file diff --git a/news/GOOG/2023.01.12/Alphabet A : Bernstein reaffirms its Buy rating.txt b/news/GOOG/2023.01.12/Alphabet A : Bernstein reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..ed8e847617e7ff0d2bbe877c3cd4b9adbb2f0c2e --- /dev/null +++ b/news/GOOG/2023.01.12/Alphabet A : Bernstein reaffirms its Buy rating.txt @@ -0,0 +1 @@ +Nikhil Devnani from Bernstein retains his positive opinion on the stock with a Buy rating. The target price continues to be set at USD 120. \ No newline at end of file diff --git a/news/GOOG/2023.01.12/Alphabet C : UBS maintains a Buy rating.txt b/news/GOOG/2023.01.12/Alphabet C : UBS maintains a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..92a504b8ebddf0ae2eab63df13db349ce8ea46cc --- /dev/null +++ b/news/GOOG/2023.01.12/Alphabet C : UBS maintains a Buy rating.txt @@ -0,0 +1 @@ +UBS analyst Karl Keirstead maintains his Buy rating on the stock. The target price remains set at USD 115. \ No newline at end of file diff --git a/news/GOOG/2023.01.12/Factbox-India's antitrust directives on Android that have spooked Google.txt b/news/GOOG/2023.01.12/Factbox-India's antitrust directives on Android that have spooked Google.txt new file mode 100644 index 0000000000000000000000000000000000000000..f52fa41975bf757d3f564acbb3d418538c25f304 --- /dev/null +++ b/news/GOOG/2023.01.12/Factbox-India's antitrust directives on Android that have spooked Google.txt @@ -0,0 +1 @@ +As a Jan. 19 deadline approaches, the U.S. firm has asked the Supreme Court to put on hold the directives of the Competition Commission of India (CCI), arguing that they risk stalling growth of its Android ecosystem in the country.Google licenses the system to smartphone makers, but critics say its restrictions are anti-competitive. The U.S. firm says Android provides more choice for everyone and such pacts help keep the operating system free.Google has said that the changes sought by CCI would result in the most far-reaching alterations for the Android mobile platform in the last 14 to 15 years.Here are the authority's 10 directives:* Google should not be allowed to license its Play Store, from which users download mobile apps, on condition that device manufacturers pre-install Google apps such as YouTube, Gmail or the Chrome browser.* Google should not force device makers to pre-install a bouquet of apps or decide their placement.* Google should be restrained from striking agreements that ensure exclusivity for its search services on smart devices.* Google should not restrict smartphone users from removing its pre-installed such as Google Maps, Gmail and Youtube, which currently cannot be deleted from Android phones, on which they are supplied pre-installed.* Google should let users pick a search engine of choice for all relevant services when setting up a phone for the first time. * Google should not impose any curbs in India on the practice of "sideloading", or downloading apps without using its app store. * Google should allow third-party app stores to be hosted on Google's Play Store. * Competitors and app developers should not be denied access to the programming interface of Google Play services, the underlying software system that powers Android devices. This directive is meant to ensure compatibility between apps on Play Store and third-party app stores based on Android variants, the antitrust authority has said.* Google should not incentivise or obligate manufacturers for not selling smart devices based on Android variants. * The CCI asked Google not to restrict makers of Android smartphones from developing other devices, such as tablets or TVs based on modified versions of Android. (Reporting by Munsif Vengattil and Aditya Kalra in New Delhi; Editing by Clarence Fernandez)By Munsif Vengattil and Aditya Kalra \ No newline at end of file diff --git a/news/GOOG/2023.01.12/Global markets live: Tesco, T-Mobile, Apple, Roche, AbbVie....txt b/news/GOOG/2023.01.12/Global markets live: Tesco, T-Mobile, Apple, Roche, AbbVie....txt new file mode 100644 index 0000000000000000000000000000000000000000..2b5ff40928f1e0bdebf5a1975ed86729a6acc35f --- /dev/null +++ b/news/GOOG/2023.01.12/Global markets live: Tesco, T-Mobile, Apple, Roche, AbbVie....txt @@ -0,0 +1,28 @@ + +  +  +Corporate results: + +ASOS: Sales contracted 3% in the four months to the end of December. +Logitech: The Swiss company reduced its guidance for the 2022/2023 financial year. +Marks and Spencer: The British company reported an increase in sales over the Christmas period. +Persimmon: The UK's number two homebuilder warned of weak housing market conditions. +Taiwan Semiconductor: Fourth-quarter profit rises 78% and exceeds market expectations. +Tesco: The retailer maintains its profit forecast after strong Christmas sales. + +  +In other news: + +T-Mobile US is reportedly interested in a buyout of Mint Mobile, according to Bloomberg. +Mark Parker is set to become president of Walt Disney. The stock gained 1.3 percent in premarket trading after activist investor Nelson Peltz asked to join the entertainment company's board, which the company declined. +Apple is reportedly developing touchscreens for Macs, according to Bloomberg. +Roche is looking for an internal candidate to succeed the CEO of its pharma division. +Leclanché receives an order for battery systems for two hybrid ferries. +The new retail darling, Bed Bath & Beyond saw its shares surge 69% yesterday. +AbbVie, Abbott, Ashtead and Sage pay dividends. +Lottomatica (Apollo) is considering an IPO. +Alphabet's health sciences subsidiary, Verily Life Sciences, announced Wednesday that it had laid off more than 200 employees, or about 15 percent of its workforce. +Blackrock is cutting its workforce, up to 500 affected jobs, after several years of growth, a source close to the matter reported Wednesday. +AMD on Wednesday announced the appointment of Jean Hu, a senior executive at Marvell Technology, as chief financial officer. + +Main earnings reports today: Tesco, OMV, Persimmon, Taylor Wimpey, Marks and Spencer, DFDS, Bossard... All the agenda is here.  diff --git a/news/GOOG/2023.01.12/Good, but not good enough.txt b/news/GOOG/2023.01.12/Good, but not good enough.txt new file mode 100644 index 0000000000000000000000000000000000000000..f32ecd6617c5ccce225b841d1470730390713613 --- /dev/null +++ b/news/GOOG/2023.01.12/Good, but not good enough.txt @@ -0,0 +1,28 @@ + +The Consumer Price Index (CPI) inched down 0.1% between November and December, which is what the Bloomberg consensus expected. The Core CPI, , which excludes volatile energy and food prices, gained 0.3% over the same period, also in line with expectations. + +The December consumer-price index gained 6.5% year-over-year, after rising 7.1% in November, while the core CPI was up 5.7% after a 6% rise a month earlier. +However, US weekly jobless claims came in at 205,000 last week, lower that the 215,000 expected, signaling that the job market remains tight. +Investors clearly don't know what to think of this data, which perhaps was not as good as they hoped. They need to see the beginning of something positive for equity markets, and forget about 2022. U.S. indices looked shaky yesterday before ending at the day's high. The Nasdaq 100, a natural marker of risk appetite, was on its fourth consecutive session of gains after a 1.76% gain yesterday. It passed the 11,400-point mark, returning to its mid-December levels. +The big hope is that the US central bank won its fight against inflation, which should allow it to normalize its monetary policy in the foreseeable future. Recession fears and the second-round effects of higher policy rates have now taken a step back. While there was little doubt that price inflation will continue to slow, the proportion matters. The latest figures have been more favorable than the market had expected on average, but today's were in line with expectations…This explains the mixed reaction. +  +Economic highlights of the day: +Weekly unemployment figures and December inflation are on the agenda. All the agenda is here. Last night, China reported inflation of 1.8% in December and an average price increase of 2% for the whole of 2022, the dream of every western central banker. +The dollar is slightly down to EUR 0.9274 and GBP 0.8204. The ounce of gold is up to 1893 dollars. Oil strengthened, with North Sea Brent crude at USD 83.83 per barrel and US WTI light crude at USD 78.69. The yield on 10-year US debt rises to 3.59%. Bitcoin is accelerating to USD 18,200. +  +In corporate news: +* Walt Disney gained 1.3 percent in premarket trading after activist investor Nelson Peltz asked to join the entertainment company's board, which the company declined. +* Alphabet - Alphabet's health sciences subsidiary, Verily Life Sciences, announced Wednesday that it had laid off more than 200 employees, or about 15 percent of its workforce. +* Blackrock is cutting its workforce, up to 500 affected jobs, after several years of growth, a source close to the matter reported Wednesday. +* AMD on Wednesday announced the appointment of Jean Hu, a senior executive at Marvell Technology, as chief financial officer. +  +Analyst recommendations: +American Tower: Deutsche Bank upgrades to buy from hold. PT up 11% to $254. +Antofagasta: Barclays downgrades to equal-weight from overweight. PT down 17% to 1,450 pence. +Crown Castle: Barclays downgrades to equal-weight from overweight. PT inches up 0.3% to $152. +Direct Line: Jefferies remains "Hold" with a price target reduced from GBp 220 to GBp 175. +Experian: RBC Capital Markets downgrades to underperform from sector perform. PT down 13% to 2,500 pence. +Halliburton: Wolfe Research upgrades to outperform from underperform. PT up 24% to $51. +Netflix: Jefferies upgrades to buy from hold. PT up 18% to $385. +Pearson: Kepler Cheuvreux downgrades to reduce from hold. PT down 3.3% to 900 pence. +Rio Tinto: Berenberg upgrades from sell to buy targeting GBp 6700. diff --git a/news/GOOG/2023.01.12/Google Cloud's top U.S. sales executive departs - The Information.txt b/news/GOOG/2023.01.12/Google Cloud's top U.S. sales executive departs - The Information.txt new file mode 100644 index 0000000000000000000000000000000000000000..934ec8b8493e7ffb995f2be7e7419546bf515562 --- /dev/null +++ b/news/GOOG/2023.01.12/Google Cloud's top U.S. sales executive departs - The Information.txt @@ -0,0 +1 @@ +Kliphouse is being replaced by Adaire Fox-Martin, who was previously the president of Google Cloud International and the head of Google's Ireland office, according to the report.Alphabet did not immediately respond to a Reuters request for comment.The shakeup comes as growth in the cloud software and services industry has slowed as clients look to trim costs and optimize their expenditure on cloud services.The company is also under pressure amid disappointing ad sales, with advertisers cutting back on their spending in the face of an economic slowdown.Earlier on Wednesday, Alphabet's health science unit, Verily Life Sciences, had laid off over 200 employees, or about 15% of its workforce, marking the first time in at least six years when Alphabet or its affiliate has announced job cuts. (Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/GOOG/2023.01.12/Google, Porsche in talks over Google Apps access - Manager Magazin.txt b/news/GOOG/2023.01.12/Google, Porsche in talks over Google Apps access - Manager Magazin.txt new file mode 100644 index 0000000000000000000000000000000000000000..6572d7deb5ba2da8c368f0215dd521e4b5e16ac9 --- /dev/null +++ b/news/GOOG/2023.01.12/Google, Porsche in talks over Google Apps access - Manager Magazin.txt @@ -0,0 +1 @@ +A focus of the deal would be access to Google Maps, the report added. (Writing by Rachel More, Editing by Miranda Murray) \ No newline at end of file diff --git a/news/GOOG/2023.01.12/Porsche in talks to use Google software in cars.txt b/news/GOOG/2023.01.12/Porsche in talks to use Google software in cars.txt new file mode 100644 index 0000000000000000000000000000000000000000..ecae3e5cc21c30269e145cbebdd0a41826cd4e01 --- /dev/null +++ b/news/GOOG/2023.01.12/Porsche in talks to use Google software in cars.txt @@ -0,0 +1 @@ +A Reuters source says the luxury car maker may fully integrate the tech giant's software into its vehicles. That could let drivers use apps like Google Maps without connecting the car to an Android phone. Any such move would mark a big change for the brand. German media reports say Porsche had previously been reluctant to use Google software. They say it felt the U.S. company asked for too much data to be shared. Tech firms from Google to Apple and Amazon are in a race to control automakers' dashboards. That as software becomes an integral part of car design. Firms including General Motors, Renault and Ford already use Google systems in their vehicles. But others such as BMW are reluctant. It says it's vital to retain control of the customer's interface with its vehicles. Back in October, Porsche said it was talking to various tech firms besides Google. That included Apple and China's Tencent. The contacts followed a move to end cooperation with Volkswagen on software research and development. \ No newline at end of file diff --git a/news/GOOG/2023.01.13/Analysis-Tencent bets big on WeChat Channels in push to build its own TikTok.txt b/news/GOOG/2023.01.13/Analysis-Tencent bets big on WeChat Channels in push to build its own TikTok.txt new file mode 100644 index 0000000000000000000000000000000000000000..73b734246cf956b054d35d91d5c4bc5f256c88ff --- /dev/null +++ b/news/GOOG/2023.01.13/Analysis-Tencent bets big on WeChat Channels in push to build its own TikTok.txt @@ -0,0 +1 @@ +The show is just one of many events held by WeChat owner Tencent to promote the app's short-video platform - described by the tech giant's founder Pony Ma as "the hope of the company". Tencent Holdings Ltd has tapped other entertainers too like Taiwan's Jay Chou and Irish boy band Westlife for livestreamed concerts and, according to a source, has set up a team to build a community of content creators as it seeks to challenge the dominance of ByteDance, the owner of TikTok and Douyin, and Kuaishou in the short-video business."Tencent hopes it can turn Channels into the next WeChat Pay. It has a shot at it. But it is also going to be difficult," said Liao Xuhua, a senior analyst at research firm Analysys.WeChat Pay became the second-biggest player in China's mobile payment market within a year of its 2013 launch, behind Alipay which is owned by Jack Ma-founded Ant Group. Two sources familiar with Tencent said the importance of Channels has been repeatedly communicated within the company.The two-year old platform has been a bright spot for Tencent in an otherwise dismal 2022 when revenue for its other products, such as games and payment services, were slammed by tighter gaming regulations and strict COVID-19 curbs.The total number of views on Channels surged more than three-fold last year, Tencent said this week as it revealed its latest growth figures for the platform. Daily active creators and video uploads more than doubled.Gross merchandise value (GMV) from livestreaming e-commerce, where telegenic personalities hawk goods online in real time, jumped more than 800% on Channels, the company said. It did not disclose absolute figures.A LatePost report says Channels' daily transactions from livestreamed sales pitches reached more than 100 million yuan ($15 million) in September 2022 for the first time, indicating an annual rate of about 36 billion yuan. But Douyin was already aiming to bring its GMV to over 1 trillion yuan ($155 billion) in 2021, a six-fold jump from 2020 levels, sources said at the time. ByteDance does not publicly disclosee official GMV numbers.INTEGRATING PRODUCTS Tencent has been integrating many of its products, ranging from Tencent Meetings to WeChat Mini Program, with Channels to help creators livestream content just like the U.S. band Backstreet Boys.Tencent Meetings is a Zoom-like teleconference service while mini programs are like apps on Apple's iOS and Google's Android operating systems but less data intensive and run within WeChat.An integration would allow, for example, a podcast host to conduct an interview on Meetings and livestream it on Channels. If the host recommends a product during the chat, a link can pop up on the screen to take viewers to a Mini Program where they can buy the product using WeChat Pay. Tencent has also slashed the threshold for monetisation on Channels, allowing users with as few as 10 followers, versus 1,000 earlier, to start making money through advertisements.TikTok requires content creators to have more than 10,000 followers to start monetising.Channels has also opened up ad opportunities "like never before", said Li Yikai, general manager of Americas and EMEA at ad agency Nativex, versus WeChat that pushes a few ads a day. "When you are already scrolling and come across an ad, you don't think twice about it. So naturally you come across a lot more ads with short videos," Li said.In November, Tencent President Martin Lau said Channels' advertising revenue was on track to reach 1 billion yuan in the fourth quarter of 2022. For TikTok and Douyin, research firm Insider Intelligence estimated in April last year that ad revenues would together reach more than $30 billion for 2022.Channels has also started charging e-commerce merchants a 1% to 5% commission fee from this month. Douyin has been charging 1% to 10% since 2020.RIVALRYWhile some analysts see Channels as Tencent's best chance to catch up with ByteDance, others believe it will be tough for it to become as big as Douyin, the Chinese version of TikTok. "When you have to start from being a social network app and then enter into the short-video space, you have to build up a whole e-commerce system to support it ... I won't say they can't get there but it's very difficult," Analysys' Liao said.But Shawn Yang, managing director at research group Blue Lotus Capital Advisors, is bullish on Channels given the potential of WeChat's traffic. WeChat, China's most popular chat app, has more than a billion active users."For example, in Douyin or Kuaishou, you won't be able to ask your viewers to add you on WeChat. But on Channels, you can quickly add somebody on WeChat," Yang said. "This is very beneficial to those who already have their own private traffic on WeChat," he said.($1 = 6.7348 Chinese yuan) (Reporting by Josh Ye; Editing by Brenda Goh and Himani Sarkar)By Josh Ye \ No newline at end of file diff --git a/news/GOOG/2023.01.13/China set for historic demographic turn, accelerated by COVID traumas.txt b/news/GOOG/2023.01.13/China set for historic demographic turn, accelerated by COVID traumas.txt new file mode 100644 index 0000000000000000000000000000000000000000..3ec492bd12bab0c26d8c4f9413345dd58621e056 --- /dev/null +++ b/news/GOOG/2023.01.13/China set for historic demographic turn, accelerated by COVID traumas.txt @@ -0,0 +1 @@ +When China abruptly dismantled its "zero COVID" regime last month to let the virus spread freely, the balance tilted to a definite "No", the Shanghai-based e-commerce executive said.Stories about mothers and babies not being able to see doctors as medical facilities were overwhelmed by COVID infections were the final straw for Zhang."I heard that giving birth at a public hospital is just horrific. I really wouldn't consider having a baby," the 31-year-old said.A glimpse of the scars caused by the pandemic to China's already bleak demographic outlook may come to light when it reports its official 2022 population data on Jan. 17. Some demographers expect China's population in 2022 to post its first drop since the Great Famine in 1961, a profound shift with far-reaching implications for the global economy and world order.New births for 2022 are set to fall to record lows, dropping below 10 million from last year's 10.6 million babies - which were already 11.5% lower than in 2020."With this historical turn, China has entered a long and irreversible process of population decline, the first time in China and the world's history," said Wang Feng, professor of Sociology at University of California."In less than 80 years China's population size could be reduced by 45%. It will be a China unrecognisable by the world then." China's total population increased by 480,000 to 1.4126 billion in 2021. The United Nations predicts China's population will start to decline this year when India overtakes it as the world's most populous country. U.N. experts see China's population shrinking by 109 million by 2050, more than triple the decline of their previous forecast in 2019.While nine of the 10 most populous nations in the world are experiencing declines in fertility, China's 2022 fertility rate of 1.18 was the lowest and well below the 2.1 OECD standard for a stable population.The country, which imposed a one-child policy from 1980-2015, officially acknowledged it was on the brink of a demographic downturn last year, when the National Health Commission said the population may start declining before 2025. In October, President Xi Jinping said the government would enact further policies to boost the country's birth rate. GOING GREYSince 2021 authorities have introduced measures including tax deductions, longer maternity leave, enhanced medical insurance, and housing subsidies to incentivize people to have more babies. Their impact so far has been lacklustre.Online searches for baby strollers on China's Baidu dropped 17% in 2022 and are down 41% since 2018, while searches for baby bottles are down more than a third since 2018. In contrast, searches for elderly care homes surged eight-fold last year.The reverse is playing out in India, where Google Trends shows a 15% year-on-year increase in searches for baby bottles in 2022, while searches for cribs rose almost five-fold. The financial burden of children's education, some of the most stressful college entrance exams in the world and a nursery enrollment of only around 5.5% for children under 3 years - far lower than the OECD average - are key factors affecting the fertility rate, the YuWa Population Research think tank said this month. The economic impact of an ageing society will be significant.Demographer Yi Fuxian expects the proportion of those aged 65 years and older to reach 37% in 2050, from 14% last year and 5% in 1980. Its labour force won't be replenished at the same rate due to declining births."Rapid aging is slowing China's economy, reducing revenues, and increasing government debt...China is getting old before it gets rich."Murphy, a 22-year-old student at Beijing's Communication University of China said she wouldn't be able to afford a child due to the slow economy.The lockdowns cooled the economy to one of its lowest growth rates in nearly half a century last year."The pandemic reinforced my view," said Murphy, who declined to give her last name for privacy reasons. "Even if I could afford my own living expenses, why would I want to have babies?" (Additional reoporting by Liz Lee, Joe Cash and the Beijing newsroom; Sophie Yu in Shanghai and Angel Woo in Hong Kong; Editing by Marius Zaharia and Lincoln Feast.)By Farah Master \ No newline at end of file diff --git a/news/GOOG/2023.01.13/Google says India antitrust ruling would result in higher cost for app developers.txt b/news/GOOG/2023.01.13/Google says India antitrust ruling would result in higher cost for app developers.txt new file mode 100644 index 0000000000000000000000000000000000000000..07a6e0cf839d74f892593b3c6d2eeb1714c7bf9b --- /dev/null +++ b/news/GOOG/2023.01.13/Google says India antitrust ruling would result in higher cost for app developers.txt @@ -0,0 +1 @@ +The Competition Commission of India (CCI) in October fined Google $161 million for exploiting its dominant position in Android and asked it to change restrictions imposed on smartphone makers related to pre-installing apps. (Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/GOOG/2023.01.13/Justice Department official cleared to oversee Google probes -source.txt b/news/GOOG/2023.01.13/Justice Department official cleared to oversee Google probes -source.txt new file mode 100644 index 0000000000000000000000000000000000000000..e5a5fa898fce1fb67091485efb95b8bdaeeef695 --- /dev/null +++ b/news/GOOG/2023.01.13/Justice Department official cleared to oversee Google probes -source.txt @@ -0,0 +1 @@ +The Wall Street Journal earlier reported the decision to allow Jonathan Kanter, assistant attorney general in charge of antitrust, to oversee matters involving the search engine and advertising company.The Justice Department and Google declined to comment on Friday.In November 2021, Google asked the Justice Department to consider requiring Kanter to recuse himself because of his work for a long list of Google critics like Yelp Inc, which Alphabet described as "vociferously advocating for an antitrust case against Google for years."Bloomberg News reported in May that Kanter had been barred from working on Google investigations as the department considered whether he was required to be recused.On Wednesday, Google argued a U.S. judge should toss out a Justice Department antitrust lawsuit against it, saying agreements it made with Apple Inc and others to make Google the default search engine do not bar smartphone makers from promoting rivals.The case is set to go to trial in September. If Google loses, it could be forced to spin off key assets.In December, Google asked a court to throw out both the antitrust case that the Justice Department filed in 2020 along with 11 states as well as a related complaint brought by 35 states led by Colorado.The Justice Department's October 2020 lawsuit alleges Google violated antitrust law in how it maintained dominance in search and search advertising. For example, it pointed to billions of dollars that Google paid annually to Apple, LG Electronics Inc and others to ensure Google search was the default on their devices.Google faces additional allegations of antitrust violations from dozens of states. The lawsuit filed by Colorado and others, which was also filed in 2020, also alleges that Google illegally limits rivals' ability to operate its Search Ads 360 tool, used by advertisers to manage online marketing campaigns. (Reporting by David Shepardson in Washington; Editing by Matthew Lewis)By David Shepardson \ No newline at end of file diff --git a/news/GOOG/2023.01.13/Porsche to ensure familiar software is available for customers, spokesperson says.txt b/news/GOOG/2023.01.13/Porsche to ensure familiar software is available for customers, spokesperson says.txt new file mode 100644 index 0000000000000000000000000000000000000000..2d03c9c4092fa13eba915169436f1dc697fc5e0c --- /dev/null +++ b/news/GOOG/2023.01.13/Porsche to ensure familiar software is available for customers, spokesperson says.txt @@ -0,0 +1 @@ +The luxury carmaker declined to comment on whether it was currently in talks with Google over a deal to incorporate Google applications like Google Maps and Google Assistant into their vehicles.A source close to the company told Reuters on Thursday discussions were underway, marking a shift in strategy for the newly listed carmaker which previously had been reluctant to use Google software. (Reporting by Ilona Wissenbach, Writing by Victoria Waldersee, Editing by Rachel More) \ No newline at end of file diff --git a/news/GOOG/2023.01.16/China's first population drop in six decades sounds alarm on demographic crisis.txt b/news/GOOG/2023.01.16/China's first population drop in six decades sounds alarm on demographic crisis.txt new file mode 100644 index 0000000000000000000000000000000000000000..898ca0ac7ddde55c4547d5c14c31fa2422ab9490 --- /dev/null +++ b/news/GOOG/2023.01.16/China's first population drop in six decades sounds alarm on demographic crisis.txt @@ -0,0 +1,65 @@ +BEIJING/HONG KONG, Jan 17 (Reuters) - China's population +fell last year for the first time in six decades, a historic +turn that is expected to mark the start of a long period of +decline in its citizen numbers with profound implications for +its economy and the world.The country's National Bureau of Statistics reported a drop +of roughly 850,000 people for a population of 1.41175 billion in +2022, marking the first decline since 1961, the last year of +China's Great Famine.That possibly makes India the world's most populous nation. +U.N. experts predicted last year India would have a population +of 1.412 billion in 2022 though they did not expect the South +Asian nation to overtake China until this year.India, however, only collects population figures every 10 +years and its latest census, originally scheduled for 2021, has +been delayed due to the pandemic.Long-term, U.N. experts see China's population shrinking by +109 million by 2050, more than triple the decline of their +previous forecast in 2019.That's caused domestic demographers to lament that China +will get old before it gets rich, slowing the economy as +revenues drop and government debt increases due to soaring +health and welfare costs."China's demographic and economic outlook is much bleaker +than expected. China will have to adjust its social, economic, +defense and foreign policies," said demographer Yi Fuxian.He added that the country's shrinking labor force and +downturn in manufacturing heft would further exacerbate high +prices and high inflation in the United States and Europe."Economic growth will have to depend more on +productivity growth," added Zhiwei Zhang, chief economist at +Pinpoint Asset Management.Kang Yi, head of the national statistics bureau, dismissed +concerns about the population decline, telling reporters that +"overall labor supply still exceeds demand."China's birth rate last year was just 6.77 births per 1,000 +people, down from a rate of 7.52 births in 2021 and marking the +lowest birth rate on record.The number of Chinese women of childbearing age, which the +government defines as aged 25 to 35, fell by about 4 million, +Kang said.The death rate, the highest since 1974 during the Cultural +Revolution, was 7.37 deaths per 1,000 people, which compares +with a rate of 7.18 deaths in 2021.ONE-CHILD POLICY IMPACTMuch of the demographic downturn is the result of China's +one-child policy imposed between 1980 and 2015 as well as +sky-high education costs that have put many Chinese off having +more than one child or even having any at all.The one-child policy and a traditional preference for boys +have also created a deep gender imbalance. The latest data shows +China with around 722 million males compared to 690 million +females. The imbalance, which is more pronounced in rural areas, +has led to fewer families being formed in recent years.The data was the top trending topic on Chinese social media +after the figures were released on Tuesday. One hashtag,"#Is it +really important to have offspring?" had hundreds of millions of +hits."The fundamental reason why women do not want to have +children lies not in themselves, but in the failure of society +and men to take up the responsibility of raising children. For +women who give birth this leads to a serious decline in their +quality of life and spiritual life," posted one netizen with the +username Joyful Ned.Chinese netizens have also previously complained about +pressure on newlyweds to have offspring as soon as possible, +reporting regular calls from their local government asking when +they can expect a pregnancy.China's stringent zero-COVID policies that were in place for +three years have caused further damage to the country's +demographic outlook, population experts have said.Local governments have since 2021 rolled out measures to +encourage people to have more babies, including tax deductions, +longer maternity leave and housing subsidies. President Xi +Jinping also said in October the government would enact further +supportive policies.The measures so far, however, have done little to arrest the +long-term trend.Online searches for baby strollers on China's Baidu search +engine dropped 17% in 2022 and are down 41% since 2018, while +searches for baby bottles are down more than a third since 2018. +In contrast, searches for elderly care homes surged eight-fold +last year.The reverse is playing out in India, where Google Trends +shows a 15% year-on-year increase in searches for baby bottles +in 2022, while searches for cribs rose almost five-fold.(Reporting by Albee Zhang in Beijing and Farah Master in Hong +Kong; Additional reporting by Kevin Yao and Ella Cao in Beijing +and Tanvi Mehta in New Delhi; Editing by Edwina Gibbs) \ No newline at end of file diff --git a/news/GOOG/2023.01.16/Davos 2023: Palantir CEO predicts hiring while preparing for economic slowdow...txt b/news/GOOG/2023.01.16/Davos 2023: Palantir CEO predicts hiring while preparing for economic slowdow...txt new file mode 100644 index 0000000000000000000000000000000000000000..c597a10eb4125f8f29229a536f4a8a59f5bf91e2 --- /dev/null +++ b/news/GOOG/2023.01.16/Davos 2023: Palantir CEO predicts hiring while preparing for economic slowdow...txt @@ -0,0 +1,29 @@ +DAVOS, Switzerland, Jan 16 (Reuters) - Palantir +Technologies Inc is still looking to grow its headcount +even as it scrutinizes its spending and confronts economic +uncertainty, its chief executive told Reuters.The U.S. software company in 2023 expects to add a couple +hundred people to its roughly 3,500 staff, in line with prior +years of expansion just as peers in the technology industry are +firing people, CEO Alex Karp said on the sidelines of the World +Economic Forum in Davos.Vociferously contrarian, the company for years planned for +war, political upheaval and a souring economy - though not a +pandemic, "the only disaster I think we did not predict," Karp +said, joking that Palantir had "a basement filled with things +prepared (but) no masks."Palantir has clinched more business following Russia's war +with Ukraine, selling software to visualize an army's positions +as well as help enterprises vet their supply chains or reduce +costs. Still, its stock is down more than 50% in the past year +like other tech companies.Economists surveyed by the World Economic Forum largely +expect a recession this year.Asked about potential cuts, Karp said Palantir was doing +well in the United States, United Kingdom and Canada while +evaluating spend in slower markets."Things could get much, much worse, and then of course +everything's on the table," Karp said.The economy already is pinching Palantir's customers. Karp +said one of clients' top-ten priorities was reducing what they +were spending on cloud-computing, and Palantir was partnering +with Cloudflare Inc to monitor such usage."They're under enormous cost pressure. This is just a huge +cost center, and they need to find ways to do the same things +cheaper," he said. The top cloud providers are Amazon, +Microsoft and Google, though Karp said his +company is "cloud agnostic." +(Reporting By Jeffrey Dastin in Davos, Switzerland; Editing by +Josie Kao) \ No newline at end of file diff --git a/news/GOOG/2023.01.16/Google-backed ShareChat cuts 20% of workforce.txt b/news/GOOG/2023.01.16/Google-backed ShareChat cuts 20% of workforce.txt new file mode 100644 index 0000000000000000000000000000000000000000..af970bd01d1243a5f92aa972979ba5176f3d26ff --- /dev/null +++ b/news/GOOG/2023.01.16/Google-backed ShareChat cuts 20% of workforce.txt @@ -0,0 +1 @@ +"There is a growing market consensus that the current global economic downturn would be a much more sustained one, and we thus have to, unfortunately, seek more cost savings by reducing our team size," ShareChat Chief Executive Ankush Sachdeva said in an internal memo seen by Reuters.Bengaluru-based ShareChat is valued at $5 billion, has more than 2,200 employees and is "spreading its team globally across India, USA and Europe," according to its website.It was not immediately clear if the company has updated its website since the decision to reduce its workforce.Investors have become more circumspect of high valuations in a turbulent stock market that has hammered tech shares across the globe.Indian startups raised $24 billion last year, a third lesser than in 2021, and have let go thousands of employees in recent months to cut costs and become profitable. (Reporting by Anuran Sadhu in Bengaluru; Writing by Praveen Paramasivam in Chennai; Editing by Rashmi Aich and Savio D'Souza)By Aditya Kalra \ No newline at end of file diff --git a/news/GOOG/2023.01.16/The end of the 60|40 structure in portfolio managem...txt b/news/GOOG/2023.01.16/The end of the 60|40 structure in portfolio managem...txt new file mode 100644 index 0000000000000000000000000000000000000000..8bf75343324de98c38f820b09a48f72318007f27 --- /dev/null +++ b/news/GOOG/2023.01.16/The end of the 60|40 structure in portfolio managem...txt @@ -0,0 +1,13 @@ + +Credit Suisse, Bayer, Bristol-Myers Squibb, Ashmore, Instagram (Meta), Snap, Prada, Ford & Volkswagen, BlackRock, Goldman sachs, Google (Alphabet), JPMorgan, Pfizer, Merck, Alibaba, Kepco & Bain Capital feature in this press review! + + + + +  + +  +  +  +  +  diff --git a/news/GOOG/2023.01.17/A drive through Ukraine's devastated Bakhmut.txt b/news/GOOG/2023.01.17/A drive through Ukraine's devastated Bakhmut.txt new file mode 100644 index 0000000000000000000000000000000000000000..2d33f689b2d405750449ea7d04dfcf280b5168bc --- /dev/null +++ b/news/GOOG/2023.01.17/A drive through Ukraine's devastated Bakhmut.txt @@ -0,0 +1 @@ +Reuters was able to verify the location by matching Google Maps imagery to buildings seen in the video.Bakhmut and nearby Soledar in Ukraine's Donetsk region have been a months-long hotspot in the war. \ No newline at end of file diff --git a/news/GOOG/2023.01.17/Davos 2023: CEOs buzz about ChatGPT-style AI at World Economic Forum.txt b/news/GOOG/2023.01.17/Davos 2023: CEOs buzz about ChatGPT-style AI at World Economic Forum.txt new file mode 100644 index 0000000000000000000000000000000000000000..7525a78db312d1112f28b230170135c753cd5cd2 --- /dev/null +++ b/news/GOOG/2023.01.17/Davos 2023: CEOs buzz about ChatGPT-style AI at World Economic Forum.txt @@ -0,0 +1,53 @@ +DAVOS, Switzerland, Jan 17 (Reuters) - Business titans +trudging through Alpine snow can't stop talking about a chatbot +from San Francisco.Generative artificial intelligence, tech that can invent +virtually any content someone can think up and type into a text +box, is garnering not just venture investment in Silicon Valley +but interest in Davos at the World Economic Forum's annual +meeting this week.Defining the category is ChatGPT, a chatbot that the startup +called OpenAI released in November. The tech works by learning +from vast amounts of data how to answer any prompt by a user in +a human-like way, offering information like a search engine +would or prose like an aspiring novelist.Executives have floated wide-ranging applications for the +nascent technology, from use as a programming assistant to a +step forward in the global race for AI and military supremacy.Conference goers with a major stake in the development of +the technology include Microsoft Corp, whose chief +executive, Satya Nadella, said the tech's progress has not been +linear.AI capabilities will "completely transform" all of +Microsoft's products, he said in an on-stage interview with the +Wall Street Journal.Microsoft has a $1 billion investment in San Francisco-based +OpenAI that it has looked at increasing, Reuters has reported. +In an announcement that coincided with the conference, Microsoft +said it plans to market ChatGPT to its cloud-computing +customers. The company has also worked to add OpenAI's +image-generation software to its Bing search engine in a new +challenge to Alphabet Inc's Google.Later on Tuesday, the political sphere gets to weigh in on +the craze. French politician Jean-Noël Barrot planned to join a +panel discussion with a Sony Group Corp executive on +the technology's impact.Matthew Prince, CEO of Cloudflare Inc, a company +that defends websites against cyberattacks and offers other +cloud services, sees generative AI as good enough to be a junior +programmer or a "really good thought partner."In an interview, Prince said Cloudflare was using such +technology to write code on its Workers platform. Cloudflare is +also exploring how such tech can answer inquiries faster for its +free-tier customers as well, he said on the annual meeting's +sidelines.Alex Karp, CEO of Palantir Technologies Inc, a +software provider helping governments visualise an army's +movements or enterprises vet their supply chains, among other +tasks, said such AI could have military applications.Karp told Reuters in Davos, "The idea that an autonomous +thing could generate results is basically obviously useful for +war."The country that advances the fastest in AI capabilities is +"going to define the law of the land," Karp said, adding that it +was worth asking how tech would play a role in any conflict with +China.Businesses including CarMax Inc have already used +Microsoft and OpenAI's tech, such as to generate thousands of +customer review summaries when marketing used vehicles. Proposed +venture-capital investment has also exceeded what some startups +want to take.Such buzz carried through gatherings at Davos, like talk +about a slide-generating bot dubbed ChatBCG after the management +consulting firm. The service said on its website that it had too +much demand to keep operating.Generative AI is "a game-changer that society and industry +need to be ready for," stated an article on the World Economic +Forum's website. +(Reporting By Jeffrey Dastin in Davos, Switzerland; Editing by +Kenneth Li and Gerry Doyle) \ No newline at end of file diff --git a/news/GOOG/2023.01.17/Microsoft expands access to OpenAI tools, M&S inves...txt b/news/GOOG/2023.01.17/Microsoft expands access to OpenAI tools, M&S inves...txt new file mode 100644 index 0000000000000000000000000000000000000000..d73a5fd59b69f018174988b2ac2b6e35c384734e --- /dev/null +++ b/news/GOOG/2023.01.17/Microsoft expands access to OpenAI tools, M&S inves...txt @@ -0,0 +1,12 @@ + +Microsoft, Bain Capital, Activision & NetEase, Marks and Spencer, Wise, THG, Ocado, ITM Power, BNP Paribas, Renault, Saudi Aramco, Iberdrola, Siemens, Evergrande and Alibaba feature in this press review! + + + + + +  +  +  +  +  diff --git a/news/GOOG/2023.01.18/Big Tech braces for dismal profits, more job cuts.txt b/news/GOOG/2023.01.18/Big Tech braces for dismal profits, more job cuts.txt new file mode 100644 index 0000000000000000000000000000000000000000..2cc13e8fee832cdcfca204a11a60e541c1fa6c33 --- /dev/null +++ b/news/GOOG/2023.01.18/Big Tech braces for dismal profits, more job cuts.txt @@ -0,0 +1 @@ +Each of America's five largest tech companies, though, are expected to report a fall in profits for the October-December period, as they try to recalibrate in a high-interest environment. Facebook-owner Meta Platforms Inc and Amazon.com Inc are expected to report the biggest declines.Analysts have cut their total revenue projection for the five companies - Meta, Amazon, Apple Inc, Alphabet Inc and Microsoft Corp - by 5% to $561.4 billion as of January from October.Big tech companies are expected to be among the biggest drags to S&P 500's eleven sectors, with the information technology sector projected to report an earnings decline of 9.5%, according to FactSet data.GRAPHIC: Wall Street analysts alter revenue estimates for Big Tech (https://www.reuters.com/graphics/BIGTECH-PREVIEW/akveqaobrvr/chart.png)"I would not expect good news for a while ... at least for the next three quarters. I would expect more layoffs," said Siddharth Singhai, chief investment officer at investment firm Ironhold Capital.Amazon, which is expected to report that earnings slumped 38% and revenue grew at the slowest pace in over 22 years, started communicating to staff on Wednesday whether they were laid off as part of its decision to cut 18,000 jobs.The reduction in workforce came after the retailer overhired based on pandemic demand, echoing Meta's aggressive hiring to meet a surge in social media usage by stuck-at-home consumers.Meta, which decided in November to chop 11,000 jobs, could see a 42% plunge in profit, its fifth straight quarter of decline. The company is also likely to see a 7% fall in revenue - its worst showing ever.The five companies on an average increased their employee base by 45% in 2020 and 20.5% in 2021, with Apple hiring the most modestly."We are forecasting another 5% to 10% headcount cut across the tech sector as many of these companies were spending money like 1980s rockstars," said Wedbush analyst Dan Ives.Microsoft said on Wednesday it would eliminate 10,000 roles, affecting less than 5% of its employees. Analysts expect the company to report a 2.4% rise in revenue, the slowest pace in about 24 quarters. Profit is expected to fall 9%.GRAPHIC: Amazon hired generously; Apple stayed frugal through pandemic (https://www.reuters.com/graphics/TECH-LAYOFF/zgpobrklqvd/chart.png)Apple's revenue is expected to fall for the first time in 15 quarters as its major supplier Foxconn faced major disruption at the biggest iPhone factory in China due to worker unrest related to COVID curbs.Revenue growth at Alphabet, which is slowing hiring and making "course corrections" to cut costs, is expected to be the slowest in 10 quarters.To shore up stock prices, analysts said these companies could pour money into buybacks this year. Their shares fell between 26% and over 60% last year versus the broader market's nearly 20% decline.They together have cash and cash equivalents of over $110 billion, with Amazon having the most and Meta having the least at the end of the September quarter. (Reporting by Nivedita Balu and Yuvraj Malik in Bengaluru; Editing by Maju Samuel)By Nivedita Balu and Yuvraj Malik \ No newline at end of file diff --git a/news/GOOG/2023.01.18/Massachusetts man charged with wife's murder searched how to dispose of body - prosecut...txt b/news/GOOG/2023.01.18/Massachusetts man charged with wife's murder searched how to dispose of body - prosecut...txt new file mode 100644 index 0000000000000000000000000000000000000000..656fa6b55169a887e60bc191699114d859aba9de --- /dev/null +++ b/news/GOOG/2023.01.18/Massachusetts man charged with wife's murder searched how to dispose of body - prosecut...txt @@ -0,0 +1 @@ +Not guilty pleas were entered in Quincy District Court on behalf of Brian Walshe, 47, as a prosecutor revealed a search of a trash facility uncovered items with Ana Walshe's DNA on it along with a hacksaw and cutting shears.He was ordered held without bail after prosecutors on Tuesday charged Walshe with his wife's murder. He was earlier arrested on Jan. 8 for misleading police investigating the 39-year-old mother of three's disappearance.The investigation began after her employer in Washington, the real estate company Tishman Speyer, reported her missing on Jan. 4.At the time, Brian Walshe was on house arrest awaiting sentencing in Boston federal court after admitting in 2021 he sold forgeries of Andy Warhol art based on paintings he took from a one-time friend and never returned.Assistant District Attorney Lynn Beland said Brian Walshe originally told investigators his wife left their Cohasset, Massachusetts, home early on Jan. 1 in a ride-hailing service for the airport to go to Washington for work.But investigators found no evidence she took such a ride, and Beland said authorities discovered Brian Walshe that day had searched on Google "can you throw away body parts" and "10 ways to dispose of a dead body if you really need to."Beland said the next day, Walshe went to a Home Depot to buy cleaning supplies and a hatchet and that surveillance video and phone data showed that on Jan. 3 he disposed of trash bags in dumpsters in different locations.Some bags had already been picked up and have been incinerated, Beland said. But she said 10 bags contained items stained with blood as well as a hacksaw, Ana Walshe's COVID-19 vaccine card, and boots she was last seen wearing. (Reporting by Nate Raymond in Boston; Editing by Vin Shahrestani)By Nate Raymond \ No newline at end of file diff --git a/news/GOOG/2023.01.18/Wagner chief Prigozhin attacks Putin administration over failure to block YouTube.txt b/news/GOOG/2023.01.18/Wagner chief Prigozhin attacks Putin administration over failure to block YouTube.txt new file mode 100644 index 0000000000000000000000000000000000000000..1fedce983289f09d07c0fd3aa5541cac950ed55f --- /dev/null +++ b/news/GOOG/2023.01.18/Wagner chief Prigozhin attacks Putin administration over failure to block YouTube.txt @@ -0,0 +1 @@ +"YouTube is the information plague of our time," Yevgeny Prigozhin said in a statement posted on his Telegram channel, alleging, without evidence, that 40% of the videos on the platform were "politicised and directed against Russia".He said there were two reasons why it had not been banned in Russia, which has clamped down on foreign media since invading Ukraine in February: that it was supposedly indispensable for ordinary citizens and, primarily, the opposition of President Vladimir Putin's administration."We have a huge number of people on Staraya Square in the Presidential Administration who think only about one thing: if only Russia lost the war as soon as possible, if only the Americans would come and regulate us as soon as possible," Prigozhin said."Those who are against the closure of YouTube are, in my opinion, people who are traitors to their people and their country, traitors to previous and future generations of Russians. They live abroad, take holidays abroad, raise children abroad, proclaim high values but, nevertheless, support the West in every possible way and feed on it."Tension between Prigozhin and the government burst into the open last Friday when the Defence Ministry claimed the capture of the Ukrainian town of Soledar but made no mention of the role of Wagner, a contract militia that operates outside the army chain of command and had already posted a picture of Prigozhin and his fighters in Soledar's salt mine.Prigozhin publicly complained of attempts to minimise Wagner's role and belittle its achievements, and the ministry later issued an update praising the "courageous and selfless actions" of Wagner fighters. The Kremlin denied a rift.Prigozhin, sometimes called "Putin's chef" for the Kremlin contracts of his catering firm, had until last autumn denied any connection with Wagner, which Russian officials say has military and mining contracts in Africa and is active in Syria.But the invasion of Ukraine, and the repeated failures of Russia's military in a campaign now almost 11 months old, encouraged him to enter a public arena where most dissenting voices are quickly silenced by the authorities, presenting himself as a ruthless and effective patriot.With around 90 million monthly users in Russia, YouTube, like Google a unit of Alphabet, is extremely popular and plays an important role in the digital economy. Though Russia has domestic versions of other social media, a viable YouTube alternative on that scale is yet to emerge.Russia has blocked other foreign social media including Instagram and Facebook, but despite months of fines and threats against YouTube for failing to delete content Moscow deems illegal and for restricting access to some Russian media, it has stopped short of delivering a killer blow to the video-hosting service. (Reporting by Reuters; Writing by Kevin Liffey; Editing by Mark Trevelyan) \ No newline at end of file diff --git a/news/GOOG/2023.01.19/Google loses bid to block Indian Android antitrust ruling in major setback.txt b/news/GOOG/2023.01.19/Google loses bid to block Indian Android antitrust ruling in major setback.txt new file mode 100644 index 0000000000000000000000000000000000000000..1165cfaadf5922427d9a9e79ed06c0d28f152588 --- /dev/null +++ b/news/GOOG/2023.01.19/Google loses bid to block Indian Android antitrust ruling in major setback.txt @@ -0,0 +1,56 @@ +(Repeats JAN. 19 story. No change to text.)*India's top court refuses to block Android antitrust +ruling*Google may need to review Android business model in India*Court extends implementation date of Indian order by a +week*Google has said India order could stall Android growthNEW DELHI, Jan 20 (Reuters) - Google on Thursday lost +its fight in India's Supreme Court to block an antitrust order, +in a major setback that will force the U.S. tech giant to change +the business model of its popular Android operating system in a +key growth market.The Competition Commission of India (CCI) ruled in October +that Google, which is owned by Alphabet Inc, exploited +its dominant position in Android and told it to remove +restrictions imposed on device makers, including related to +pre-installation of apps. It also fined Google $161 million.Google challenged the order in the Supreme Court, saying it +would hurt consumers and its business. It warned growth of the +Android ecosystem could stall and it would be forced to alter +arrangements with more than 1,100 device manufacturers and +thousands of app developers. Google also said "no other +jurisdiction has ever asked for such far-reaching changes".A three-judge bench at the Supreme Court, which included +India's chief justice, delayed the Jan. 19 implementation of the +CCI's directives by one week, but declined to block them."We are not inclined to interfere," Chief Justice D.Y +Chandrachud said.During the hearing, Chandrachud told Google: "Look at the +kind of authority which you wield in terms of dominance."About 97% of 600 million smartphones in India run on +Android, according to Counterpoint Research estimates. Apple +has just a 3% share.India's top court asked a lower tribunal, which is already +hearing the matter, to decide on Google's challenge by March 31.Google did not respond to a request for comment.Google licenses its Android system to smartphone makers, but +critics say it imposes restrictions such as mandatory +pre-installation of its own apps that are anti-competitive. The +company argues such agreements help keep Android free.Faisal Kawoosa, founder of Indian research firm Techarc, +said the Supreme Court ruling meant Google may have to consider +other business models in India, such as charging an upfront fee +to startups to provide access to the Android platform and its +Play Store."At the end of the day, Google is for profit and has to look +at measures that make it sustainable and power growth for +its innovations," he said.Android has been the subject of various investigations by +regulators around the world. South Korea has fined Google for +blocking customised versions of it to restrict competition, +while the United States Justice Department has accused Google of +executing anticompetitive distribution agreements for Android.In India, the CCI has ordered Google that the licensing of +its Play Store "shall not be linked with the requirement of +pre-installing" Google search services, the Chrome browser, +YouTube or any other Google applications.It also ordered Google to allow the uninstalling of its apps +by Android phone users in India. Currently, apps such as Google +Maps and YouTube can not be deleted from Android phones when +they come pre-installed.Google has been concerned about India's decision as the +steps are seen as more sweeping than those imposed in the +European Commission's 2018 ruling, when Google was fined for +putting in place what the Commission called unlawful +restrictions on Android mobile device makers. Google has +challenged the record $4.3 billion fine in that case.In Europe, Google has made changes including letting Android +device users pick their default search engine from a list of +providers.Google also argued in its legal filings, seen by Reuters, +that the CCI's investigation unit "copy-pasted extensively from +a European Commission decision, deploying evidence from Europe +that was not examined in India".N. Venkataraman, a government lawyer representing the CCI, +told the top court: "We have not cut, copy and pasted."(Reporting by Aditya Kalra, Arpan Chaturvedi and Munsif +Vengattil; Additional reporting by Diane Bartz and Supantha +Mukherjee +Editing by Jason Neely, Vin Shahrestani and Mark Potter) \ No newline at end of file diff --git a/news/GOOG/2023.01.19/Google to delay portion of staff bonus.txt b/news/GOOG/2023.01.19/Google to delay portion of staff bonus.txt new file mode 100644 index 0000000000000000000000000000000000000000..e05cd97ecd0953ccc8d78e85aafb0868509aa988 --- /dev/null +++ b/news/GOOG/2023.01.19/Google to delay portion of staff bonus.txt @@ -0,0 +1 @@ +The company will pay 80% advance bonus to eligible employees initially and the remainder in later months, a spokesperson told Reuters, adding that the move was communicated to staff last year.The development comes amid tech companies' attempts to limit spending amid a broader slowdown in demand and deteriorating economic conditions.Alphabet has so far announced cuts impacting over 200 employees in its health sciences division even as its megacap peers Amazon.com Inc, Meta Platforms Inc and Microsoft Corp have let go thousands of employees.The advance bonus will be paid in January and the remaining 20% in March or April, helping Google spread out costs to the next quarter, according to a CNBC, which first reported the story. All bonuses next year onwards will be paid in March, the report added. Google typically paid full bonuses in the first month of the year. (Reporting by Yuvraj Malik in Bengaluru; Editing by Maju Samuel and Uttaresh.V) \ No newline at end of file diff --git a/news/GOOG/2023.01.19/Google vows to cooperate with India antitrust authority after Android decision.txt b/news/GOOG/2023.01.19/Google vows to cooperate with India antitrust authority after Android decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..6b44818564f57cfbb467ce3e506e818c7a013607 --- /dev/null +++ b/news/GOOG/2023.01.19/Google vows to cooperate with India antitrust authority after Android decision.txt @@ -0,0 +1 @@ +The Competition Commission of India (CCI) ruled in October that Google, owned by Alphabet Inc, exploited its dominant position in Android and told it to remove restrictionson device makers, including those related to pre-installation of apps. It also fined Google $161 million.On Thursday, Google lost a challenge in the Supreme Court to block the directives, getting seven days to comply."We remain committed to our users and partners and will cooperate with the CCI on the way forward," a Google spokesperson said in a statement to Reuters."We are reviewing the details of yesterday's decision," Google said, adding that it would continue pursue its legal challenge to the Android decision. (Reporting by Aditya Kalra in New Delhi; Editing by Janane Venkatraman and William Mallard)By Aditya Kalra \ No newline at end of file diff --git a/news/GOOG/2023.01.19/Google vows to cooperate with India antitrust watchdog after Android ruling.txt b/news/GOOG/2023.01.19/Google vows to cooperate with India antitrust watchdog after Android ruling.txt new file mode 100644 index 0000000000000000000000000000000000000000..81cb6606ed6fad6a5224ae0a0f47e440733d4055 --- /dev/null +++ b/news/GOOG/2023.01.19/Google vows to cooperate with India antitrust watchdog after Android ruling.txt @@ -0,0 +1,50 @@ +NEW DELHI, Jan 20 (Reuters) - Google said on +Friday it will cooperate with India's competition authority +after the Supreme Court upheld stringent antitrust directives +forcing the U.S. firm to change how it markets its popular +Android platform in a key growth market.The Competition Commission of India (CCI) ruled in October +that Google, owned by Alphabet Inc, exploited its +dominant position in Android and told it to remove restrictions +on device makers, including those related to pre-installation of +apps and ensuring exclusivity of its search. It also fined +Google $161 million.Google has been concerned about India's decision as the +steps are seen as more sweeping than those imposed in the +European Commission's landmark 2018 ruling against Android. +About 97% of 600 million smartphones in India run on Android, +while in Europe, the system accounts for 75% of the 550 million +smartphones, according to Counterpoint Research estimates.On Thursday, Google lost a challenge in India's Supreme +Court to block the CCI directives, getting seven days to comply, +a move that will force the company to make changes to how it +strikes agreements with device makers who use its free, +open-source Android platform."We remain committed to our users and partners and will +cooperate with the CCI on the way forward," a Google +spokesperson said in a statement to Reuters, without explaining +the steps it could take."We are reviewing the details of yesterday's decision which +is limited to interim relief and did not decide the merits of +our appeal," it added.India's highest court also said a lower tribunal - where +Google first challenged the Android directives - can continue to +hear the company's appeal and must rule by March 31. Google said +on Friday it will pursue the appeal "in parallel."Hoping to block the implementation of the CCI directives, +Google had approached the Supreme Court by warning growth of its +Android ecosystem will stall. It said it would be forced to +alter arrangements with more than 1,100 device manufacturers and +thousands of app developers if the directives kick in.Google's Indian Supreme Court filing also stated "no other +jurisdiction has ever asked for such far-reaching changes."The Indian directives "will set precedence on how much +Google is forced to open up the Android platform to third party +local app stores, apps and services," said Neil Shah, research +director at Counterpoint Research."It will be challenging," he said. "We are talking about +close to 600 million Android users here - will be a significant +jolt, creating confusion and chaos."In Europe, Google was fined for putting in place what the +Commission called unlawful restrictions on Android mobile device +makers. Google is still challenging the record $4.3 billion fine +in that case.There, Google made changes including letting Android device +users pick their default search engine and said device makers +will be able to license the Google mobile application suite +separately from the Google Search App or the Chrome browser.Google told the Supreme Court if smartphone makers cherry +pick which apps to preload, as the CCI ordered, it would +"prevent Google from securing pre-installation of its +revenue-generating apps and, consequently, (will) force Google +to charge a license fee."This, the company warned, could lead to mobile handsets +getting costlier as input costs rise for manufacturers. +(Reporting by Aditya Kalra in New Delhi; Editing by Janane +Venkatraman, William Mallard and Jacqueline Wong) \ No newline at end of file diff --git a/news/GOOG/2023.01.19/India antitrust body denies Google's allegation it copied EU's Android order.txt b/news/GOOG/2023.01.19/India antitrust body denies Google's allegation it copied EU's Android order.txt new file mode 100644 index 0000000000000000000000000000000000000000..51c9d138be34196cdff1619198a76545344d7e6f --- /dev/null +++ b/news/GOOG/2023.01.19/India antitrust body denies Google's allegation it copied EU's Android order.txt @@ -0,0 +1 @@ +"We have not cut, copy and paste," N Venkataraman, a government lawyer representing the Competition Commission of India (CCI), told the top court.The comments came at a hearing in India's Supreme Court, where Google is seeking to block the CCI ruling. The body fined Alphabet Inc-owned Google $161 million for exploiting its dominant position in Android, which powers 97% of smartphones in India, and asked it to change restrictions imposed on smartphone makers related to pre-installing apps.Google had challenged the directive saying it would hurt consumers and also its business, warning the growth of the Android ecosystem will stall if the far-reaching measures were to be implemented. (Reporting by Aditya Kalra, Arpan Chaturvedi and Munsif Vengattil; Editing by Toby Chopra) \ No newline at end of file diff --git a/news/GOOG/2023.01.19/Indian startups rejoice as Android ruling against Google upheld.txt b/news/GOOG/2023.01.19/Indian startups rejoice as Android ruling against Google upheld.txt new file mode 100644 index 0000000000000000000000000000000000000000..729eb2b28ce92d5a63a0a9511b54d24ed82151bd --- /dev/null +++ b/news/GOOG/2023.01.19/Indian startups rejoice as Android ruling against Google upheld.txt @@ -0,0 +1,34 @@ +NEW DELHI, Jan 20 (Reuters) - Startups in India cheered +a decision by the Supreme Court on Thursday to uphold an +antitrust order that forces Google to change how it runs its +popular Android platform, saying the ruling would open the +market for rivals and boost competition.The Competition Commission of India (CCI) ordered Google in +October to make a series of changes, such as refraining from +agreements that ensure exclusivity of its search services and +mandatory pre-installation of its apps. It also told Google to +allow third-party app stores to be housed within its Play Store.In a major setback for the Alphabet Inc unit, the +Supreme Court of India on Thursday declined Google's request to +block the antitrust directives, which the company says would +hurt consumers and stall growth of the Android ecosystem in +India. Google now needs to comply within seven days.Rohan Verma, CEO of maps service MapmyIndia which launched +an app in 2004, told Reuters his app had not gained market share +over the years because the Google Maps app was pre-installed on +many Android phones.The CCI order states Google can't impose such requirements +now."We are elated," said Verma. "There was negative impact over +the years, we hope now consumers and device makers use our app +more."About 97% of 600 million smartphone devices in India run on +Android, according to Counterpoint Research estimates. Apple has +just a 3% share.Google licenses the Android system to smartphone makers, +saying it provides more choice for everyone and agreements it +strikes - which critics say are anti-competitive - help keep the +operating system free and open-source.Calling the ruling a "watershed moment", Rakesh Deshmukh, +CEO of Indus OS, which runs a rival app store to Google's, said +allowing other app stores within the U.S. firm's Play Store in +India would give consumers more choice and promote use of apps.Naval Chopra, a lawyer at India's Shardul Amarchand +Mangaldas, which has challenged Google in courts in the past, +said Thursday's court decision was a landmark one."This is a landmark decision in the history of competition +law in India and globally," he said, adding the CCI directives +"may well lead to a new Indian competitor in video hosting, +mapping, web browsers or, dare we say it, search."(Reporting by Aditya Kalra and Munsif Vengattil +Additional reporting by Arpan Chaturvedi +Editing by Mark Potter) \ No newline at end of file diff --git a/news/GOOG/2023.01.19/Stocks fall as labor market data fuels Fed worry.txt b/news/GOOG/2023.01.19/Stocks fall as labor market data fuels Fed worry.txt new file mode 100644 index 0000000000000000000000000000000000000000..de59931d28ad232c8e955d8e560f36a6ed47c3bf --- /dev/null +++ b/news/GOOG/2023.01.19/Stocks fall as labor market data fuels Fed worry.txt @@ -0,0 +1 @@ +The Dow and S&P 500 both fell about three quarters of a percent, while the Nasdaq dropped nearly a full percent. A report from the Labor Department showed a surprise fall in U.S. weekly jobless claims, highlighting a resilient labor market despite the Fed's efforts to stifle demand that some worry could lead the economy into a recession. Kevin Mahn is president and chief investment officer at Hennion & Walsh Asset Management."Primarily what I believe is driving stocks lower today is the concern that the Fed is going to go too far and be too aggressive in light of an economy that in all likelihood will fall into a recession during the first half of 2023. We learned from their last FOMC meeting in December that their target rate or their terminal rate for the Fed funds target rate is around 5%. Given that it currently stands at 4.25%, that would suggest a total of 75 basis points of additional hikes in 2023, which could involve three consecutive 25 basis point hikes through the first half of 2023. Obviously, the concern becomes, 'do they go too far and do too much and ignore clear signs that the economy is falling into a slow down period.'"Meanwhile, the debt ceiling debate intensified Thursday after the U.S. touched its borrowing limit, prompting the Treasury to start 'extraordinary measures' to keep the government paying its bills.Shares of Procter & Gamble fell more than two percent after the consumer products giant warned that high commodity costs were pressuring profits.Shares of the megacap growth stocks ended mixed with Microsoft and Tesla closing down more than a percent, while Google-parent Alphabet and Facebook-owner Meta Platforms both rose more than two percent.Shares of Netflix ended more than three percent lower, but the stock rebounded in extended trading after the company posted subscriber gains for the quarter and announced that co-founder Reed Hastings would shift roles from chief executive to executive chairman. \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI.txt b/news/GOOG/2023.01.20/Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI.txt new file mode 100644 index 0000000000000000000000000000000000000000..d5ec0e4f311e0fed5e822cf51f2efe15ed2c0c60 --- /dev/null +++ b/news/GOOG/2023.01.20/Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI.txt @@ -0,0 +1,64 @@ +Jan 20 (Reuters) - Google's parent Alphabet Inc +is cutting about 12,000 jobs as it faces "a different +economic reality", it said in a staff memo, doubling down on +artificial intelligence (AI) and axing staff who support +experimental projects.The job cuts affect 6% of its workforce, and follows +thousands of layoffs at tech giants including Amazon.com Inc +, Microsoft Corp and Meta Platforms Inc +who are downsizing after a pandemic-led hiring spree +left them flabby in a weak economy.Shares in Mountain View, California-based Alphabet, which +boosted its workforce by nearly a third through 2020 and 2021, +rose 4% on Friday. They had fallen 30% in the past 12 months, +echoing a 24% slump in the broader tech industry.Sundar Pichai, Alphabet's boss since 2019, said in the memo +on Friday that he took "full responsibility" for the decisions +that led to the layoffs.Pichai, whose pay was recently tied more closely to +performance, said this was a moment to "sharpen our focus, +reengineer our cost base and direct our talent and capital to +our highest priorities," as Alphabet looked to get imbue its +products with more AI, echoing comments from Microsoft that +announced job cuts on Wednesday.Alphabet, long a leader in AI, is facing competition +from Microsoft, which is reportedly looking to boost its stake +in ChatGPT - a promising chatbot that answers queries with +human-like responses.Advertising dollars, Alphabet's mainstay revenue source, +meanwhile, is feeling the squeeze from businesses chopping +budgets as consumers pull back spending."It is clear that Alphabet is not immune from the tough +economic backdrop, with worries about a U.S. recession growing," +said Susannah Streeter, an analyst at Hargreaves Lansdown."Ad growth has come off the boil ... Competition is also +heating up, with Alphabet facing a powerful rival in TikTok, and +Instagram also vying for its important YouTube viewers," +Streeter said, noting that Alphabet has also racked up billions +in regulatory fines.Evercore ISIS analyst Mark Mahaney said Alphabet's +record-high headcount had created major margin risk going into +fiscal 2023 and Bernstein analyst Mark Shmulik said the job cuts +could save the company Alphabet $2.5 billion to $3 billion in +costs.BIG JOB CUTSWith Alphabet's staff cuts, layoffs at four of the biggest +U.S. tech companies total 51,000 jobs in the past few months. +They have fanned fears of a recession even as the U.S. job +market remains tight."The tech sector is bit like the proverbial canary in the +coal mine," said Stuart Cole, an economist at Equiti Capital, +who believes the tech layoffs portend that the outlook for job +security is finally beginning to turn more negative.Apple, which hired more prudently through the +pandemic, has held off on cuts so far. On Friday, though, +website AppleInsider reported citing sources that the iPhone +maker had started to lay off non-seasonal employees in its +retail channel in places such as Best Buy stores.Apple was not immediately available for a comment on the +report.'LITTLE COMFORT'Alphabet has been working on a major AI launch, two people +familiar with the matter told Reuters. One of the sources said +it would take place in the spring. The New York Times also +reported that Google planned to unveil more than 20 new products +and a search engine including chatbot features.Among those losing their jobs are recruiters, corporate +staff and people working on engineering and product teams, +Pichai said. Google has cut most jobs at Area 120, its in-house +incubator for new projects, a company spokesperson told Reuters.The Alphabet Workers Union said in a statement that the +company's leadership taking "full responsibility" was "little +comfort.""It's appalling that our jobs are first on the chopping +block so shareholders can see a few more points in a chart next +quarter," the union said.In the United States, where Alphabet has already emailed +affected employees, staff would receive severance and six months +of healthcare as well as immigration support.Overseas, layoff notifications will take longer due to local +employment laws and practices, Pichai said in the memo. +Employees in Asia will learn starting in February if the +reduction impacts them.(Reporting by Jeffrey Dastin in Davos, Switzerland, Akash +Sriram, Deep Vakil, Chavi Mehta, Tiyashi Dutta, Nivedita Balu +and Yuvraj Malik in Bengaluru; Editing by Elaine Hardcastle, +Alexander Smith, Nick Zieminski, Sayantani Ghosh) \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Apple appeals investigation by UK competition watchdog.txt b/news/GOOG/2023.01.20/Apple appeals investigation by UK competition watchdog.txt new file mode 100644 index 0000000000000000000000000000000000000000..47980094bdcbe39ecdb8e72240250dba5860478d --- /dev/null +++ b/news/GOOG/2023.01.20/Apple appeals investigation by UK competition watchdog.txt @@ -0,0 +1 @@ +Last November, the Competition and Markets Authority (CMA), Britain's competition regulator, launched a full investigation into cloud gaming and mobile browsers on concerns about restrictions by iPhone-maker Apple and Google. U.S. tech giants, including Google's owner Alphabet and Apple, are drawing increasing attention from competition regulators in Brussels, London and elsewhere.Lawyers representing Apple said in a notice filed with the Competition Appeal Tribunal on Friday that the CMA's investigation should be reviewed. In its argument, lawyers said that the CMA had missed timing requirements linked to the launch of an investigation. "Apple seeks 1) an Order that the MIR Decision is quashed. 2) a declaration that the MIR Decision and market investigation purportedly launched by reference to it are invalid and of no legal effect," the filing with the Appeal Tribunal showed. Responding to the appeal, the CMA said on Friday it would defend its position and continue to progress its work in line with the statutory timetable. "We opened this investigation to make sure that UK consumers get a better choice of mobile web services and that UK developers can invest in innovative mobile content and services," the CMA said in an emailed statement. There is due to be a preliminary hearing on the matter on Tuesday, according to the Competition Appeal Tribunal website. (Reporting by Sarah Young) \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Ericsson shares slide as earnings disappoint.txt b/news/GOOG/2023.01.20/Ericsson shares slide as earnings disappoint.txt new file mode 100644 index 0000000000000000000000000000000000000000..94471aa800851e9dd2067405a6b734bc33a95d42 --- /dev/null +++ b/news/GOOG/2023.01.20/Ericsson shares slide as earnings disappoint.txt @@ -0,0 +1,43 @@ +*Expects Q1 core earnings to be lower than last year*Expects to see effect of cost savings from Q2*Cost savings to include headcount reduction -CFO*Gross margin fell to 41.4% from 43.2%*Shares hit 2018 lowsSTOCKHOLM, Jan 20 (Reuters) - Ericsson on +Friday reported lower than expected fourth-quarter core earnings +as sales of 5G equipment slowed in high-margin markets such as +the United States, sending the Swedish company's shares to their +lowest since 2018.Ericsson is the latest tech company to show the impact of +customers tightening belts amid concerns about a global economic +slowdown. Others have been cutting staff, including Microsoft +and Google parent Alphabet which have +announced thousands of job cuts this week.Ericsson has already announced plans to cut costs by 9 +billion crowns by the end of 2023.Chief Financial Officer Carl Mellander told Reuters that +would involve reducing consultants, real estate and also +employee headcount."It's different from geography to geography, some are +starting now, and we'll take it unit by unit, considering the +labor laws of different countries," Mellander said, referring +to the cuts.He declined to say if the job cuts would be similar to 2017 +when Ericsson laid off thousands of employees and focused on +research to return the company to profitability.Ericsson's shares were down as much as 8% early on Friday +and were down 5.7% by 1206 GMT. They have fallen by about 40% +since February last year following a U.S. investigation into +potential payments by the company in Iraq.Last week, the company said it would book a 2.3 billion +Swedish crown ($220 million) provision for an expected fine from +U.S. authorities for breach of a settlement reached in 2019.U.S. IMPACTEricsson's net sales rose in the fourth quarter, but +margins, net income and core earnings fell.Its gross margin for the fourth quarter of 2022 fell to +41.4% from 43.2%.Ericsson said it expected a fall in margin in its Networks +business to persist through the first half of 2023 but the +effect of cost savings to emerge in the second quarter.JPMorgan analysts said given the fall in margins and higher +investments, they would expect 2023 earnings to decline by a +double digit percentage.Inge Heydorn, partner and fund manager at investment firm GP +Bullhound, said: "The fourth quarter shows once again that the +U.S. has a big impact on Ericsson's margins."With U.S. customers such as Verizon tightening their +purse strings, Ericsson is hoping newer markets such as India +can provide some growth.Its South East Asia, Oceania and India market was the only +one to grow in the quarter, rising 21%, accounting for 13% of +the company's business.The company's fourth-quarter adjusted operating earnings, +excluding restructuring charges, fell to 9.3 billion Swedish +crowns from 12.8 billion a year earlier.That was short of the 11.22 billion expected by analysts, +Refinitiv Eikon data showed.Net sales rose 21% to 86 billion crowns, beating estimates +of 84.2 billion.A settlement of a patent deal with Apple last month +resulted in revenue of 6 billion crowns, but Ericsson also took +4 billion crowns in charges, including a provision for a +potential fine from U.S. regulators and divestments.Ericsson said it expects significant patent revenue growth +over the coming 18-24 months.($1 = 10.3095 Swedish crowns)(Reporting by Supantha Mukherjee in Stockholm, editing by Terje +Solsvik and Jane Merriman) \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Europeans up; Saipem tops Mib after contracts .txt b/news/GOOG/2023.01.20/Europeans up; Saipem tops Mib after contracts .txt new file mode 100644 index 0000000000000000000000000000000000000000..3d72ac5c2104aed1e0bced87407b4855ec78d9c4 --- /dev/null +++ b/news/GOOG/2023.01.20/Europeans up; Saipem tops Mib after contracts .txt @@ -0,0 +1 @@ +(Alliance News) - Europe's major stock markets closed higher on Friday as fears of a recession in the U.S. grew in tandem with announcements of layoffs by big tech firms. The latest to break the news was Google, with Alphabet set to cut 12,000 jobs globally."Pre-earnings layoffs seem to be all the rage in the U.S. and have been welcomed by markets eager to see signs of cost cutting among companies. But it's a tough road ahead," commented Chris Beauchamp, chief market analyst at online trading platform IG. "A wave (or waves) of layoffs will hurt consumer confidence and spending, coming at a time when inflation and higher rates have already hit consumer wallets and raising the possibility of a more severe recession," he concluded. The FTSE Mib, therefore, closes in the green by 0.7 percent at 25,775.52.In Europe, London's FTSE 100 finishes up 0.3 percent, Paris' CAC 40 picks up 0.6 percent, and Frankfurt's DAX 40 is up 0.7 percent.Among Italy's smaller lists, the Mid-Cap rallied 1.3 percent to 42,797.31, the Small-Cap closed up 0.7 percent to 29,602.71, and Italy Growth finished in the green 0.2 percent to 9,545.89.Bullish stocks prevailed on the main list of Piazza Affari and Saipem led the way, up 8.6 percent, after announcing Friday that it had been awarded two offshore contracts totaling about USD900 million.Assicurazioni Generali closes up 2.3 percent after announcing Thursday evening that it will initiate the buyback of treasury shares to be used for the execution of the group's long-term incentive plan called "LTI Plan 2022-2024" approved by the shareholders' meeting in April.The buyback transaction was authorized by the shareholders' meeting and is for the purchase of a maximum number of treasury shares of 10.5 million. Also doing well was UniCredit, which finished in the green by 2.3 percent. The stock was given a recommendation by Jefferies, which raised its target price to EUR21.00 from EUR19.00 with a 'buy' recommendation, and by Oddo BHF, which raised its target price to EUR16.30 from EUR15.30 with a 'neutral' rating.At the bottom are Amplifon, down 2.7 percent, Intesa Sanpaolo, down 1.9 percent, and A2A, down 1.8 percent. On the Mid-Cap, Juventus picks up 0.4 percent despite the announcement by the prosecutor's office of the Federazione Italiana Giuoco Calcio that it has requested a nine-point penalty following the investigation into the club's fictitious capital gains.As La Gazzetta dello Sport reported Friday, given the seriousness of the facts alleged and the impact it has had from a sporting point of view on the championships, the prosecutor's request is for a truly afflictive penalty that would keep Juventus out of Europe.Credem closes up 4.6 percent after Jefferies and Deutsche Bank Research raised the target price to EUR7.60 from EUR7.40 and to EUR9.30 from EUR6.90, respectively. In addition, DB also upgraded Credem to 'buy' from 'hold'. Banca Popolare di Sondrio ends up 1.4 percent. Jefferies also raised the target price on this stock, this time to EUR5.20 from EUR5.00 with a 'buy' recommendation.Industrie De Nora is among the best on the list, picking up 3.9 percent. Marble Bar Asset Management on Thursday cut its short on the stock to 0.75 percent from 0.97 percent.On top, however, is GVS, which closes up 5.8 percent followed by Piaggio, in the green by 4.9 percent. On the smallcap list, at the top are algoWatt, Enervit and The Italian Sea Group, up 7.6 percent, 5.7 percent and 4.5 percent, respectively.Newlat Food closed at a parity. On Thursday, it reported preliminary consolidated revenues for 2022 of EUR730 million, up 17% organic year-on-year from EUR625 million reported at the end of fiscal year 2021 and up 128% from fiscal year 2019 when revenues were EUR320 million, the year of listing in the STAR segment of the Italian Stock Exchange.SIT closes in the green by 2.9 percent after announcing Friday that sales realized in 2022 amounted to EUR387.6 million up 3.3 percent from EUR375.2 million in 2021.For the Heating division, realized sales in the year ending Dec. 31, 2022 are EUR315 million, up 5.6 percent from EUR298.2 million in 2021, while for the Metering division in 2022 sales are EUR72.6 million, down 5.7 percent from EUR77.0 million in 2021.Among SMEs, SCK Group announced on Thursday that through Sciuker Frames - in the red by 0.9 percent - it has formed the first Made in Italy design window and sunscreen cluster, "SCK Force Srl," a wholly owned subsidiary of Sciuker Frames, has been established.The newly established company is assigned the task of centralizing all sales and marketing activities of the new and ambitious project of SCK Window Stores.Racing Force--down 0.4 percent--reported Friday that Nehoc Systems sold 4,210 shares in the company.The shares were sold at an average price of EUR5.3502 for a consideration of EUR22,524.34.Mondo TV Suisse - down 1.8 percent - announced Friday that Balocco, a leading Italian company in its sector based in Fossano, in the province of Cuneo, has acquired from the same Mondo TV Suisse a license for the territory in Italy, San Marino and the Vatican, Canton Ticino and Malta for the exploitation of licensing and merchandising rights of the property Bread Barber Shop - in Italy the series is aired under the title 'Il Barbiere Pasticciere' - for confectionery products.At the top is Illa, closing in the green by 25 percent, followed by Alfonsino, up 12 percent. In New York, at the height of trading, the Dow is up 0.3 percent to 33,141.70, the Nasdaq is in the green 1.4 percent to 11,003.25 and the S&P 500 picks up 0.9 percent to 3,932.10.Among currencies, the euro changes hands at USD1.0836 versus USD1.0801 at Thursday's close. By contrast, the pound is worth USD1.2375 from USD1.2359 last night.Among commodities, Brent crude is worth USD86.80 a barrel from USD85.90 a barrel last night. Gold, on the other hand, trades at USD1,925.38 an ounce from USD1,921.63 an ounce last session.On Monday's economic calendar, no events are scheduled from China and Hong Kong, both closed for Chinese New Year.At 0050 CET, in Japan, the minutes of the monetary policy meeting will be released.At 1500 CET, in France, there will be the BTF auction while at 1600 CET the eurozone consumer confidence index is expected.At 1845 CET, ECB President Christine Lagarde will give a speech.Among companies listed on the Stock Exchange, the results of Compagnia dei Caraibi are expected.By Chiara Bruschi, Alliance News reporterComments and questions to redazione@alliancenews.comCopyright 2023 Alliance News IS Italian Service Ltd. All rights reserved. \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Exclusive-Google parent to lay off 12,000 workers - memo.txt b/news/GOOG/2023.01.20/Exclusive-Google parent to lay off 12,000 workers - memo.txt new file mode 100644 index 0000000000000000000000000000000000000000..5ac0105a3dc1f9851c21ccb658063aeba76630a2 --- /dev/null +++ b/news/GOOG/2023.01.20/Exclusive-Google parent to lay off 12,000 workers - memo.txt @@ -0,0 +1 @@ + (Reporting By Jeffrey Dastin in Davos, Switzerland) \ No newline at end of file diff --git a/news/GOOG/2023.01.20/FTSE 100 steadies after difficult week.txt b/news/GOOG/2023.01.20/FTSE 100 steadies after difficult week.txt new file mode 100644 index 0000000000000000000000000000000000000000..774942722714fadf3a24dc0b17859eba1936388a --- /dev/null +++ b/news/GOOG/2023.01.20/FTSE 100 steadies after difficult week.txt @@ -0,0 +1 @@ +(Alliance News) - European equities closed higher on Friday, clawing back some losses at the end of a week which saw post-new year optimism in stock markets give way to caution. In London, blue-chip and mid-cap retailers shook off poor UK consumer data. The FTSE 100 underperformed European peers, however, as international earners struggled amid a stronger pound. The FTSE 100 index closed up 23.30 points, 0.3%, at 7,770.59. The FTSE 250 rose 128.52 points, or 0.7%, at 19,702.63, and the AIM All-Share rose 3.93 points, or 0.5%, at 856.02.For the week, the FTSE 100 lost 0.9%, the FTSE 250 gave back 1.3% and the AIM All-Share gave returned 1.0%.The Cboe UK 100 ended up 0.2% at 777.04 on Friday. The Cboe UK 250 rose 0.7% at 17,225.22, and the Cboe Small Companies added 0.1% at 13,982.67.In European equities on Friday, the CAC 40 in Paris closed up 0.6%, while the DAX 40 in Frankfurt added 0.7%. "2022 was a battle over inflation and how high interest rates would go. 2023 is turning into a battle over recessionary conditions and how much negative news is priced into stocks and bonds. There is wide disagreement on both, leading to an even cloudier picture for investors," analysts at Tower Bridge Advisors commented. The euro stood at USD1.0837 at the time of the European equities close on Friday, higher against USD1.0795 on Thursday. Against the yen, the dollar was trading at JPY129.88, higher compared to JPY128.45. Fresh economic data painted a gloomy picture about the UK economy, meanwhile. According to the latest data released by the Office for National Statistics, UK retail sales volumes are estimated to have fallen by 1.0% in December from November.Markets had expected retail sales volumes to rise by 0.5% monthly in December, according to FXStreet.In addition, GfK's UK consumer confidence indicator dipped to a near-historic low in January.The pound was quoted at USD1.2379 late Friday in London, up from USD1.2363 on Thursday. Retail shares largely shook-off the poor data, which has been at odds with largely positive post-Christmas updates from the sector. JD Sports added 2.8%, among the best FTSE 100 performers.Asos jumped 11% after Bank of America lifted the online fashion retailer to 'buy' from 'underperform'. Peer boohoo rose 8.5% after BofA upped it to 'buy' from 'neutral'. The stronger pound hit international earners however, with AstraZeneca and Diageo, two of the FTSE 100's largest constituents, falling 1.9% and 0.3%. While larger peers shone, retailer In The Style tumbled 29%. The seller of womenswear fashion expects a swing to a loss for the year ending March 31.In The Style expects annual revenue "to be in region" of GBP46 million, down 19% from GBP57.3 million a year ago. It anticipates an adjusted loss before interest, tax, depreciation and amortisation between GBP4.3 million and GBP4.8 million, swinging from an adjusted Ebitda of GBP551,000 a year ago. Elsewhere in London, Spirent dropped 19% as it noted some hesitance among its clients for the first half of 2023.The firm explained that global economic conditions have caused some of its customers to delay their investment decisions in the new year. As a result, it now expects its annual performance to have a "heavier than usual" weighting towards the second half of 2023.In 2022, however, the provider of testing, analytics and security for telecommunications networks said its results were in line with expectations. Close Brothers gave back 11%. The merchant bank said it expects to recognise an additional provision in its interim financial statements against the Novitas loan book of up to GBP90 million.In 2021, Close Brothers decided to permanently cease the approval of lending to new customers across all the products offered by Novitas and withdraw from the legal services financing market.Brent oil was quoted at USD86.55 a barrel late Friday in London, up from USD85.36 late Thursday. Gold was quoted at USD1,925.41 an ounce, higher against USD1,919.03. Stocks in New York were higher at the time of the equities close in London. The Dow Jones Industrial Average was up 0.5%, the S&P 500 climbed 0.9%, and the Nasdaq Composite surged 1.4%.Alphabet's 'A' stock was up 4.6%. Google's parent company said it will cut around 12,000 jobs, the latest major technology firm to slash its workforce.Alphabet's Chief Executive Sundar Pichai said in an email sent to staff: "I have some difficult news to share. We've decided to reduce our workforce by approximately 12,000 roles."I take full responsibility for the decisions that led us here."The CEO said the lay-offs are global, impacting US employees immediately, and will affect teams across the company.Alphabet joins Microsoft, Salesforce, Facebook-owner Meta Platforms and Amazon in imposing job cuts as the world economy heads into a downturn.Netflix added 6.5% on the back of forecast-topping subscriber growth and a change at the top. Netflix said it added 7.7 million subscribers in the fourth quarter of 2022, markedly beating a forecast of 4.5 million, though slowing from 8.3 million a year earlier.The streaming service said its founder, Reed Hastings, will switch from co-chief executive to executive chair. The move mirrors those of other tech founders, such as Amazon's Jeff Bezos.Joining Ted Sarandos as a co-chief executive is operating chief Greg Peters.The company also reiterated its intention to use revenue growth as its key growth metric going forward, rather than subscriber adds. Financial markets in Shanghai and Hong Kong are closed on Monday for the Lunar New Year holiday. Shanghai is closed for the whole week, while Hong Kong re-opens on Thursday. The week picks up pace with a series of flash PMIs on Tuesday and a Bank of Canada interest rate announcement on Wednesday. Monday's local corporate calendar has half-year results from cannabinoid medicines-focused firm Oxford Cannabinoid Technologies and a trading statement from Tritax Big Box REIT. Over in New York, Microsoft reports half-year results on Tuesday, aerospace company Boeing and electric carmaker Tesla post annual numbers on Wednesday, before oil major Chevron on Thursday.By Eric Cunha, Alliance News news editorComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Furniture retailer Wayfair to cut 1,750 jobs to save costs.txt b/news/GOOG/2023.01.20/Furniture retailer Wayfair to cut 1,750 jobs to save costs.txt new file mode 100644 index 0000000000000000000000000000000000000000..ed924825f8f1013382059d3153a079a106919033 --- /dev/null +++ b/news/GOOG/2023.01.20/Furniture retailer Wayfair to cut 1,750 jobs to save costs.txt @@ -0,0 +1,22 @@ +Jan 20 (Reuters) - Online furniture retailer Wayfair Inc +said on Friday it will cut 1,750 jobs, or 10% of its +workforce, in a cost-saving drive at a time when persistently +high inflation has pressured consumer spending.The news sent its shares as much as 26% higher to an over +four-month high of $48.94 amid broader market gains.The Boston-based retailer joins a growing list of U.S. +companies - from tech giants such as Alphabet Inc and +Microsoft Corp to home goods retailer Bed Bath & Beyond +Inc - that have slashed their workforce and reined in +spending to ride out the economic downturn.On Friday, Wayfair said the job cuts will affect 18% of its +corporate workforce, or about 1,200 employees. The company said +in August it will cut 870 jobs.It had previously outlined a $1.4 billion cost-saving plan +to scale down on operating costs amid weakening demand for its +furnishings. Including the August workforce reduction, the +company said on Friday the labor portion of the plan represents +about $750 million in savings."It's a move in the right direction to realign the company's +cost structure for today's environment," said senior analyst +Anna Andreeva from Needham & Co Inc, adding that Wayfair is +becoming more flexible and agile.The Wall Street Journal first reported the layoffs on +Thursday.Wayfair had 16,681 full-time equivalent employees as of Dec. +31, 2021, according to a regulatory filing. +(Reporting by Granth Vanaik in Bengaluru; Editing by Savio +D'Souza, Shinjini Ganguli and Devika Syamnath) \ No newline at end of file diff --git "a/news/GOOG/2023.01.20/Google parent alphabet inc is eliminating 12,000 jobs - memo\342\200\246.txt" "b/news/GOOG/2023.01.20/Google parent alphabet inc is eliminating 12,000 jobs - memo\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..3b507c0d823bdcb05bdb2ac7ac6306265960354f --- /dev/null +++ "b/news/GOOG/2023.01.20/Google parent alphabet inc is eliminating 12,000 jobs - memo\342\200\246.txt" @@ -0,0 +1 @@ +GOOGLE PARENT ALPHABET INC IS ELIMINATING 12,000 JOBS - MEMO \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Google parent cuts 12,000 jobs as tech layoffs deepen.txt b/news/GOOG/2023.01.20/Google parent cuts 12,000 jobs as tech layoffs deepen.txt new file mode 100644 index 0000000000000000000000000000000000000000..e78958e8eed9b6c396a02b17fe9037b6dd3f6330 --- /dev/null +++ b/news/GOOG/2023.01.20/Google parent cuts 12,000 jobs as tech layoffs deepen.txt @@ -0,0 +1 @@ +The announcement comes at a delicate moment for the U.S. tech giant, which has long been the leader in key areas of AI research.Joseph Bonner is a technology, media and telecom analyst at Argus Research."We're in a very uncertain macro environment, you know, particularly around digital advertising, which is the lifeblood of Alphabet and Google. Over the long-term, I still think it's a great company. I mean, the technology is some of the best in the industry. Search advertising still is doing well. There's been some concern around the ChatGPT, the new AI kind of text-based interface, that could be a problem in, sometime in the future, but I don't think that's a real long-term issue. So right now, I still see the company as still very viable."But industry observers said so-called generative AI may test Google's dominance in internet search after Microsoft-backed startup, OpenAI, released the chatbot known as ChatGPT that can answer queries with human-like responses. Microsoft this week said recession worries were forcing it, too, to shed 10,000 jobs, but said it would focus on loading its products with more AI going forward. Alphabet's CEO Sundar Pichai echoed that sentiment in his layoff memo to staff. \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Google parent to lay off 12,000 workers - memo.txt b/news/GOOG/2023.01.20/Google parent to lay off 12,000 workers - memo.txt new file mode 100644 index 0000000000000000000000000000000000000000..f448fb746c2197f5d9762c7bd349a18c67c50283 --- /dev/null +++ b/news/GOOG/2023.01.20/Google parent to lay off 12,000 workers - memo.txt @@ -0,0 +1 @@ +A staff memo by Chief Executive Sundar Pichai was shared with Reuters.In it he said the company had rapidly expanded headcount in recent years.But that was for what he called a 'different economic reality than the one we face today'.Alphabet's job losses affect teams across the company, including recruiting, engineering and more.The layoffs are global, and will impact U.S. staff straight away.But the process will take longer in other countries due to local employment laws and practices.The cuts follow a similar move made by rival firm Microsoft.Earlier this week, it said it would lay off 10,000 workers.The update comes at a moment of economic uncertainty and technological potential.Both Google and Microsoft have invested heavily in an area of software known as generative artificial intelligence.Microsoft said it continued to ramp up spending in that area. \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Investors no longer listen to central banks.txt b/news/GOOG/2023.01.20/Investors no longer listen to central banks.txt new file mode 100644 index 0000000000000000000000000000000000000000..83a58415ae807b65f86a152fa55fdc91d7f1e7e8 --- /dev/null +++ b/news/GOOG/2023.01.20/Investors no longer listen to central banks.txt @@ -0,0 +1,36 @@ + +But we start this morning with an anniversary, that of American presidents. January 20th is indeed the day when the presidents of the United States of America start their term of office, according to the XXth amendment of the American constitution, dating from 1937. Based on this measure, Joe Biden's term has two years left, with some worries about the debt ceiling. To put it simply, the US debt is large and constantly growing, the maximum amount of which has been set for more than a century by Congress. As a result, Congressmen have to vote regularly to raise it. This is not really a concern when the houses are controlled by the party that occupies the White House, but it becomes a concern in the event of power sharing, as is currently the case. Raising the ceiling is then the subject of intense negotiations, since it is a powerful political lever: if the United States can no longer borrow, it can no longer honor some of its obligations. In the past, there have been some memorable standoffs. They have been a source of volatility on markets, even though they have always led to compromise... + +This comes after the publication of statistics on Wednesday that have raised fears of a harder-than-expected economic landing. The Nasdaq lost 1% after having already given up 1.3% the day before and the S&P500 fell -0.8%, for a third session in the red. The US broad index, at the doorstep of 3900 points, is now down only 1.5% in 2023. For your information, the average of the expectations of 23 big names in finance is 4079 points for the S&P500 next December 31 (according to forecasts compiled by François Trahan). That's 4.6% of potential growth from the 3900 points touched last night. Projections range from 3,400 points for those big pessimists at BNP, to 4,750 points for the unicorns and rainbows at Fundstrat. However, there is little point in fiddling with strategies based on these, since the stars of the market are just as complacent as the average equity fan. In other words, this kind of forecasting doesn't work very well, except when markets are only going up. At the end of 2021, Goldman Sachs was telling its clients that the S&P500 would hit 5100 points by the end of 2022. JPMorgan Chase, in a prudent move, was content with 5050 points. As a result, instead of the 6 to 7% increase predicted by these two major Wall Street institutions, the S&P500 fell 19.4% last year. +What else happened in the world yesterday? Central bankers continued to make tough speeches about monetary policy, trying to convince investors who do not believe them that they have not changed course. This was the case with Fed Vice Chair Lael Brainard. As for Japan, it recorded inflation in December at 4%, the highest level since 1981. A level in line with expectations but which continues to question the BoJ's ultra-accommodating policy. Faced with these cautious signals, investors are focusing on the return of growth in China. This has allowed oil to move forward again and Hong Kong to wake up for the last session of the week. They will have time to meditate on the Chinese dynamics in a calm environment, since the country's markets will be closed for the Lunar New Year from Monday. Hong Kong will be closed on Monday, Tuesday and Wednesday, while Shanghai and Shenzhen will be closed all next week. +  +Economic highlights of the day: +US housing data for December is today's main indicator. All the agenda is here. Last night, Japan announced a 4% inflation in December, the highest recorded since 1981. +The dollar is up to EUR 0.9251 and GBP 0.8099. The ounce of gold is worth USD 1925. Oil rallied, with North Sea Brent crude at USD 86.54 a barrel and U.S. light crude WTI at USD 80.95. The yield on 10-year U.S. debt rebounded to 3.41%. Bitcoin is back below USD 21,000. +  +In corporate news: +* Netflix - The co-founder of the online video service, Reed Hastings, announced Thursday that he was stepping down as chief executive, handing the reins to a duo of his deputy and chief operating officer, following the release of the group's results that showed a better-than-expected quarterly subscriber gain. The share price climbed 6.2% in pre-market trading. +* Alphabet will cut 12,000 jobs, its chief executive said in a note to employees seen by Reuters. The stock rose 1.7% in premarket trading. +* Nordstrom lowered its annual profit forecast on Thursday after reporting weak sales during the Christmas season at its Rack discount stores despite heavy promotions and discounts. The stock is down 3.7% in pre-market trading. +* Schlumberger is up 1.5% in premarket trading after fourth-quarter earnings beat Wall Street expectations, driven by strong demand for drilling services and equipment. +* Amazon announced Thursday that it plans to raise prices on some of its music subscription plans starting in February. +* T-Mobile US - The third-largest wireless carrier by subscribers in the U.S. said Thursday it is investigating a flaw in its systems involving 37 million postpaid and prepaid accounts that could expose it to significant charges. The stock is down 2.4% in pre-market trading. +* Intel - Italy is just one of several possible destinations for Intel's new chip plant, and a decision is expected by the end of the year, the company's chief executive, Pat Gelsinger, told Italian daily Corriere della Sera on Friday. +* Texas Instruments announced on Thursday that its CEO Rich Templeton will leave the company in April and be replaced by current deputy CEO Haviv Ilan in a difficult context for the chipmaker amid declining demand in the sector. +* Eli Lilly announced Thursday that the U.S. Food and Drug Administration (FDA) had rejected an accelerated approval for its experimental Alzheimer's treatment due to insufficient clinical trial data. In pre-market trading, Eli Lilly's stock is down 1.1% while its rival BIOGEN is up 1.02%. +* Ally Financial jumped 9.9% after better-than-expected fourth-quarter adjusted operating income and revenue. +* JPMorgan on Thursday got the green light from Chinese authorities to expand its operations in the country as Beijing seeks to boost foreign business confidence after the lifting of the "zero COVID" policy. +  +Analyst recommendations: + +3i Infrastructure: Jefferies upgrades from hold to buy targeting GBp 333. +AIG: BMO Capital Markets initiated coverage with a recommendation of market perform. PT set to $64. +American Financial: BMO Capital Markets initiated coverage with a recommendation of market perform. PT set to $155. +Chubb: BMO Capital Markets initiated coverage with a recommendation of market perform. PT set to $225. +LCI Industries: Jefferies cut its recommendation to hold from buy. PT down 11% to $95. +Marsh & McLennan: BMO Capital Markets initiated coverage with a recommendation of market perform. PT set to $168. +Netflix: Jefferies has maintained its recommendation on the stock with a Buy rating. Previously set at USD 385, the target price has been raised to USD 400. +Regeneron: J.P. Morgan upgrades to overweight from neutral. PT up 19% to $850. +Virgin Money UK: Deutsche Bank downgrades from buy to hold, targeting GBp 220. +Wizz Air: Oddo BHF downgrades from Outperform to Neutral, targeting GBp 3140. + diff --git a/news/GOOG/2023.01.20/Nasdaq eyes higher open on Netflix boost.txt b/news/GOOG/2023.01.20/Nasdaq eyes higher open on Netflix boost.txt new file mode 100644 index 0000000000000000000000000000000000000000..f756adfe466692ff156af7c074ebf77f684d5c42 --- /dev/null +++ b/news/GOOG/2023.01.20/Nasdaq eyes higher open on Netflix boost.txt @@ -0,0 +1 @@ +Shares of Netflix Inc jumped 6.6% in premarket trading, after the streaming company added more subscribers than expected in the fourth quarter and said co-founder Reed Hastings was stepping down as chief executive.Netflix's quarterly update comes as the technology sector faces gloomy prospects due to rising interest rates and economic worries that have forced companies such as Microsoft Corp and Amazon.com Inc to lay off thousands of employees.Alphabet Inc was the latest to join the list as it said it was cutting 12,000 jobs on Friday. The company's shares rose 3.5%."While Netflix did really well and that's very promising, it's actually going to be one of the toughest earnings season for Big Tech," said Sylvia Jablonski, chief investment officer of Defiance ETFs."And we already have some insight into that because a lot of them have been coming out with massive layoffs."Wall Street's main indexes ended the previous session lower after resilient labor market data renewed concerns the Federal Reserve would continue its aggressive rate-hiking cycle that could tip the economy into a recession.Recent commentary from Fed officials has pointed to a terminal rate above 5%, while money market participants still bet rates peaking at 4.9% by June and see a 93.7% chance for a 25-basis point rate hike in February."We had encouraging data which showed inflationary pressures falling, which suggests the Fed may not have to tighten as far or as aggressively. That is good for equities generally, but if we're going to get a mild recession, that's not good for earnings," said Stuart Cole, Equiti Capital's head macroeconomist.At 8:29 a.m. ET, Dow e-minis were down 10 points, or 0.03%, S&P 500 e-minis were up 9 points, or 0.23%, and Nasdaq 100 e-minis were up 77.25 points, or 0.68%.SLB rose 0.5% after the oilfield services firm beat Wall Street estimates for fourth-quarter profit.The S&P 500 has lost 2.5% so far in the week and the Nasdaq is down more than 2%. The Dow is down 3.7% and is on track for its worst week since September.Investors will monitor existing home sales data, which is expected to show a moderation in December. The report is due at 10 a.m. ET.Also on the radar are comments from Philadelphia Fed President Patrick Harker and Fed Governor Christopher Waller. (Reporting by Shreyashi Sanyal and Amruta Khandekar; Additional reporting by Shubham Batra in Bengaluru; Editing by Anil D'Silva and Shounak Dasgupta)By Shreyashi Sanyal and Amruta Khandekar \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Nasdaq futures rise on Netflix boost.txt b/news/GOOG/2023.01.20/Nasdaq futures rise on Netflix boost.txt new file mode 100644 index 0000000000000000000000000000000000000000..8c813ffcb90b343cee91623439e896259aae93b7 --- /dev/null +++ b/news/GOOG/2023.01.20/Nasdaq futures rise on Netflix boost.txt @@ -0,0 +1,38 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Futures: Nasdaq up 0.38%, S&P up 0.11%, Dow flatJan 20 (Reuters) - Nasdaq futures rose on Friday, after +Netflix kicked off the earnings season for the growth sector on +a positive note, but worries about a U.S. recession kept a lid +on sentiment.Shares of Netflix Inc jumped 5.7% in premarket +trading, after the streaming company added more subscribers than +expected in the fourth quarter and said co-founder Reed Hastings +was stepping down as chief executive.Netflix's quarterly update comes as the technology sector +faces gloomy prospects due to rising interest rates and economic +worries that have forced companies such as Microsoft Corp +and Amazon.com Inc to lay off thousands of +employees.Alphabet Inc was the latest to join the list as it +said it was cutting 12,000 jobs on Friday. Shares of the company +rose 1.7%.Wall Street's main indexes ended the previous session lower +after resilient labor market data renewed concerns the Federal +Reserve would continue its aggressive rate-hiking cycle that +could tip the economy into a recession.Recent commentary from various Fed officials has pointed to +a terminal rate above 5%, while the money market participants +still bet rates peaking at 4.9% by June and see a 93.7% chance +for a 25-basis point rate hike in February."We had encouraging data which showed inflationary pressures +falling, which suggests that the Fed may not have to tighten as +far or as aggressively. That is good for equities generally, but +if we're going to get a mild recession, that's not good for +earnings," said Stuart Cole, Equiti Capital's head +macroeconomist."Overall we're just seeing uncertainty being reflected in +the kind of mixed message we're getting from futures this +morning."On the earnings front, State Street Corp and Ally +Financial Inc will report their fourth-quarter results +later in the day.At 6:06 a.m. ET, Dow e-minis were down 7 points, or +0.02%, S&P 500 e-minis were up 4.5 points, or 0.11%, and +Nasdaq 100 e-minis were up 43.5 points, or 0.38%.The S&P 500 has lost 2.5% so far in the week and the +Nasdaq is down more than 2%. The Dow is down +3.67% and is on track for its worst week since September.Investors will monitor existing home sales data, which is +expected to show a moderation in the sales of existing homes in +December. The report is due at 10 a.m. ET.Also on the radar are comments from Philadelphia Fed +President Patrick Harker and Board Governor Christopher Waller. +(Reporting by Shreyashi Sanyal and Shubham Batra in Bengaluru; +Editing by Anil D'Silva) \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Neftlix, Alphabet rise; Lilly, Concentrix fall.txt b/news/GOOG/2023.01.20/Neftlix, Alphabet rise; Lilly, Concentrix fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..44d91c8052a5af41ca77d0c664a4462431d83dfa --- /dev/null +++ b/news/GOOG/2023.01.20/Neftlix, Alphabet rise; Lilly, Concentrix fall.txt @@ -0,0 +1 @@ +NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Friday:Alphabet Inc., up $4.97 to $98.02.Google's owner is cutting 12,000 jobs, about 6% of its workforce, the latest tech company to trim staff.Netflix Inc., up $26.72 to $342.50.Subscriber growth is surging again at the streaming video pioneer, an early sign that its ad-supported service is keeping it competitive.Eli Lilly Inc., down $5.01 to $346.07.Regulators said they need more data on the company’s application for a quick approval of potential Alzheimer’s disease treatment.Playtika Holding Corp., up 71 cents to $10.20.The Israeli mobile game editor is offering to buy Rovio Entertainment Corp., the maker of “Angry Birds."Wayfair Inc., up $7.88 to $46.79.The online home furnishings store said it was cutting 1,750 jobs, or 10% of its workforce, as part of a cost-cutting program.PPG Industries Inc., up $7.40 to $131.The maker of paints and coatings reported results that beat analysts' estimates.Regions Financial Corp., up $1 to $22.69.The Alabama-based bank reported results that came in ahead of what Wall Street analysts expected.Concentrix Corp. down 97 cents to $141.99.The business services company reported results that fell short of Wall Street's expectations.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Netflix changes management, T-Mobile US hacked agai...txt b/news/GOOG/2023.01.20/Netflix changes management, T-Mobile US hacked agai...txt new file mode 100644 index 0000000000000000000000000000000000000000..91fa1aa8fdf5c795f5588277272f6c6ea430b9e1 --- /dev/null +++ b/news/GOOG/2023.01.20/Netflix changes management, T-Mobile US hacked agai...txt @@ -0,0 +1,11 @@ + +Ericsson, Verizon, SSE, TAP, Lufthansa, ABB, AcBel Polytech, Siemens Energy, Siemens Gamesa, Netflix, T-Mobile US, Eli Lilly, Procter & Gamble, Alphabet, Capital One Financial Corp, Boeing, Nordstrom, JPMorgan, Standard Chartered, Sony feature in this press review! + + + + +  + +  +  +  diff --git a/news/GOOG/2023.01.20/Take Five: Staring at the ceiling.txt b/news/GOOG/2023.01.20/Take Five: Staring at the ceiling.txt new file mode 100644 index 0000000000000000000000000000000000000000..01d418c333a097e53e6915632b7f904e00216fec --- /dev/null +++ b/news/GOOG/2023.01.20/Take Five: Staring at the ceiling.txt @@ -0,0 +1 @@ +Global business activity data will provide the latest insight into how protracted a slowdown could prove, Britain's FTSE flirts with record highs and Japan, New Zealand and Australia release inflation numbers.Here's a look at the week ahead in markets from Kevin Buckland in Tokyo, Lewis Krauskopf and Ira Iosebashvili in New York, and Naomi Rovnick and Alun John in London.1/HITTING THE CEILINGThe U.S. government hit its $31.4 trillion borrowing limit amid a spat between the Republican-controlled House of Representatives and President Joe Biden's Democrats over raising the country's debt ceiling - a standoff that could lead to a fiscal crisis, or at worst a default within months. Immediate fallout might be limited, but risks will emerge closer to June, when the government approaches the date beyond which the Treasury will likely have exhausted emergency manoeuvres to stave off default.Legislative fights over the limit this last decade have largely been resolved before they hurt markets. But a lengthy standoff in 2011 prompted S&P to downgrade the U.S. credit rating for the first time.U.S. credit default swaps - an instrument used to insure against default - have hit decade highs in recent days. Graphic: Staring at the ceiling https://www.reuters.com/graphics/GLOBAL-MARKETS/dwpkdayklvm/chart.png2/ THE BOTTOM LINE    Results from the megacap tech and growth companies will test the nascent new year's rebound in tech shares.    Microsoft, the second biggest U.S. company by market value, reports on Tuesday followed by Elon Musk's Tesla on Wednesday - and that's just the warm up for Apple, the top U.S. firm and Google-parent Alphabet the week after. All told, companies worth more than half the S&P 500's market value are reporting results over the next two weeks.    Earnings season has had a tepid start. S&P 500 companies are expected to post an overall 2.6% drop in Q4 earnings versus the year-ago period, according to Refinitiv IBES data.    Other market-moving catalysts could come from economic data, including new home sales on Thursday and the personal consumption expenditures index on Friday.Graphic: Looming U.S. earnings recession https://www.reuters.com/graphics/GLOBAL-MARKETS/jnpwywrygpw/chart.png3/SUNNIER SKIES OR FALSE DAWNS? Could this be the end of bear market rallies? Global stocks remain nearly 20% below their January 2022 record high. But MSCI's global share index is also on its longest winning streak since the depths of the bear market last October, as traders bet on economic conditions improving. All eyes will be on purchasing managers indexes summarising executives' views of the business climate, to see if the global economy really is heading somewhere less gloomy.The JPMorgan Global Composite PMI in December lingered below the 50 benchmark separating expansion from contraction. It was also, at 48.2, a few ticks above November's 29-month low. Stock markets can predict the global PMI levels, tending to bounce ahead of a sustainable rise of the index. Improvements in PMI readings from developed economies will likely increase risk appetite. Another downturn may cause the bears to roar again. Graphic: Last of the bear market rallies? https://www.reuters.com/graphics/GLOBAL-MARKETS/akpeqayeqpr/chart.png4/INFLATION VS DOVES The Bank of Japan just sent a strong signal to the bond market: stop betting that the end of stimulus is near.    But data could fuel market speculation. Inflation renewed a more than four-decade high nationwide last month, and double the BOJ's 2% target. January figures for Tokyo could push even higher when they're released on Jan. 27.    While Japanese government bond yields remain subdued following the BOJ's unanimous decision to keep the status quo on Wednesday, currency markets tell a different story. The yen retraced most of its big, knee-jerk drop on the same day of the decision, and is hovering near seven-month highs.    On Wednesday, watch out for Australian and New Zealand inflation data as well, with the RBNZ pondering how much more to tighten, and the RBA wondering whether it's time to pause.Graphic: Japan's core CPI inflation at 41-year high https://www.reuters.com/graphics/GLOBAL-MARKETS/gdvzqwabopw/chart.png5/LONDON CALLING London's bluechip FTSE 100 index is poised to launch a new attempt to scale an all-time high in days to come.The rally is a sign, at least in part, that the so-called "moron premium" which weighed on British assets after the political turmoil of autumn 2022 is easing. That's not the only thing helping the index outperform peers - its heavy weighting of miners and other commodity-focused stocks has received a boost from China's reopening. The fact it is only just about to match its May 2018 record reflects the FTSE's weakness in recent years: The S&P 500 hit its record top in January 2022 and is currently 40% above May 2018 levels. British public sector borrowing numbers, producer price inflation and PMI data are all due as well ahead of a Bank of England meeting the following week.Graphic: Underperforming FTSE slowly catches up https://www.reuters.com/graphics/GLOBAL-MARKETS/egpbymeojvq/Screenshot%202023-01-19%20at%2017.12.00.png (Compiled by Karin Strohecker; Graphics by Vincent Flasseur; editing by Dhara Ranainsghe and Toby Chopra) \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Tech stock rebound faces doubters with earnings season ahead.txt b/news/GOOG/2023.01.20/Tech stock rebound faces doubters with earnings season ahead.txt new file mode 100644 index 0000000000000000000000000000000000000000..e3e3efac0ef919113376646fad89ba56651067f4 --- /dev/null +++ b/news/GOOG/2023.01.20/Tech stock rebound faces doubters with earnings season ahead.txt @@ -0,0 +1 @@ +The tech-heavy Nasdaq 100 index has gained over 3% in 2023, double the rise for the S&P 500. Shares of some megacap companies - which include those grouped outside of tech in sectors like communication services and consumer discretionary - have shot higher, with Amazon, Meta Platforms and Nvidia posting double-digit percentage increases.Several factors are driving that outperformance, including investors piling into stocks they believe were overly punished in 2022. A moderation in bond yields, whose jump last year particularly pressured tech-stock valuations, is also likely helping the group, investors said.Now, however, the focus is shifting to whether these companies can withstand a widely expected economic downturn while supporting valuations that some investors believe are too high."To keep this rebound going, the guidance for '23 has to be less worse than what people are anticipating," said Peter Tuz, president of Chase Investment Counsel, whose firm recently pared its holdings in Apple and Microsoft.Tech and growth stocks led U.S. equity markets for years following the 2008 financial crisis, aided by near-zero interest rates. They struggled along with broader markets last year as the Federal Reserve raised rates to fight surging inflation, and some investors doubt they will regain the market's pole position any time soon. The Nasdaq 100 fell 33% in 2022, while the S&P 500 lost 19.4%.The top six stocks by market value in late 2021 - Apple, Microsoft, Alphabet, Amazon, Meta and Tesla - have seen their collective weight in the S&P 500 fall from 25% to 18%, according to Strategas Research Partners.That dynamic echoes a pattern seen after the market's dot-com bubble burst after the turn of the century. The six biggest stocks at that time saw their collective weight in the S&P 500 decline to 5% from a peak of 17% over a number of years, according to Strategas."This leadership unwind ... is going to be one that is measured in years, not in months or quarters," said Chris Verrone, head of technical and macro research at Strategas.EARNINGS TESTCompanies comprising over half the S&P 500's market value are due to report results in the next two weeks, including Microsoft, the second-largest U.S. company by market value, on Tuesday, Elon Musk's Tesla and IBM on Wednesday and Intel on Thursday. Apple, the largest U.S. company by market value, and Google-parent Alphabet report the following week.Fourth-quarter earnings in the tech sector are expected to have declined 9.1% from a year ago, compared to a 2.8% decline for S&P 500 earnings overall, according to Refinitiv IBES. A critical question for many megacaps, once heralded for their stellar growth, is whether they can increase revenue and profits significantly while cutting costs in the face of a possible recession. Alphabet Inc said Friday it is cutting about 12,000 jobs, or 6% of its workforce, the latest tech giant to announce layoffs. Microsoft on Wednesday said it would eliminate 10,000 jobs while Amazon started notifying employees of its own 18,000-person job cuts."The biggest positive could be if they could show a control of expenses while keeping at least reasonable growth intact," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey. "It's a hard balancing act."Valuations for tech and megacap companies have moderated after last year's selloff, though they still stand above those of the broader market. The S&P 500 tech sector still trades at a roughly 19% premium to the broader index, above its 7% average of the past 10 years, according to Refinitiv Datastream.Nonetheless, some investors are reluctant to bet against tech stocks.The Wells Fargo Investment Institute counts tech as one of its favored U.S. sectors. The firm expects an economic downturn and believes many tech companies have businesses that are resilient to economic uncertainty, said Sameer Samana, a senior global market strategist there."It's just too important and too big a weighting not to participate," Samana said. "But the years of handily outperforming the S&P are probably now behind us." (Reporting by Lewis Krauskopf; Editing by Ira Iosebashvili and John Stonestreet)By Lewis Krauskopf \ No newline at end of file diff --git a/news/GOOG/2023.01.20/U.S. consumer staples stocks limp after solid performance in 2022.txt b/news/GOOG/2023.01.20/U.S. consumer staples stocks limp after solid performance in 2022.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d0c9f4f7dc43b5df2016107af9c84d051076143 --- /dev/null +++ b/news/GOOG/2023.01.20/U.S. consumer staples stocks limp after solid performance in 2022.txt @@ -0,0 +1 @@ +The S&P 500 consumer staple sector, along with other bond proxies including real estate and utilities, outperformed the broader market in 2022 amid recession fears, as investors sought shelter in dividend-paying companies.In a reversal of the trend, consumer staples sector has shed 3.4% in 2023, the most among the major S&P sectors, while the S&P 500 has climbed 1.5% on easing bets of a severe economic downturn."Fundamentally, investors are starting to recognize the valuation of staples as a whole, which trade at a 25% premium to historical averages," said David Wagner, portfolio manager at Aptus Capital Advisors LLC."You couple this with the fact that there are other yield alternatives now relative to the yield-rich sector of staples."Rising interest rates have lured investors towards robust payouts in U.S. government bonds for the first time in nearly a decade.The U.S. 10-year Treasury yield stands at 3.4%, while the consumer staples sector is offering a dividend yield of 2.7%, according to Refinitiv data.Consumer companies, which witnessed soaring demand for groceries and cleaning supplies during the peak of the pandemic, are now battling a triple whammy of low sales volumes, high input costs and a stronger dollar, as evidenced by results from Procter & Gamble Co on Thursday.The bellwether for consumer products companies warned of profit pressures due to high commodity prices, as well as inflation-weary shoppers cutting back.U.S. economic data showed retail sales and producer prices declined more than expected in December.Quarterly reports from Coca-Cola Co, PepsiCo Inc, Colgate Palmolive Co, Kimberly-Clark Corp, Kellogg Co and Hershey Co in the coming weeks will shed more light on the health of the sector and set the tone for its performance during the year.Investors have also piled into rate-sensitive tech and growth stocks, which were clobbered in 2022. Communication services index that houses Meta Platforms and Alphabet Inc, and consumer discretionary that includes Amazon.com are leading gains in 2023. "Large and small tech which were obliterated in 2022 could certainly be a bright spot in 2023 as they were way, way oversold," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. (Reporting by Medha Singh in Bengaluru; additional reporting by Ankika Biswas and Uday Sampath; Editing by Shinjini Ganguli)By Medha Singh \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt b/news/GOOG/2023.01.20/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a32aaab561f7ebb22f6b9f34917c77f47e0648f --- /dev/null +++ b/news/GOOG/2023.01.20/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt @@ -0,0 +1,66 @@ +NEW YORK, Jan 20 (Reuters) - A spate of earnings reports +in coming weeks is set to test a recent bounce in technology and +other megacap stocks, a category whose leadership position in +U.S. markets has faltered after last year’s deep selloff.The tech-heavy Nasdaq 100 index has gained nearly +6.2% in 2023, compared to a 3.45% rise for the S&P 500. +Shares of some megacap companies - which include those grouped +outside of tech in sectors like communication services and +consumer discretionary - have shot higher, with Amazon, +Meta Platforms and Nvidia posting double-digit +percentage increases.Several factors are driving that outperformance, including +investors piling into stocks they believe were overly punished +in 2022. A moderation in bond yields, whose jump last year +particularly pressured tech-stock valuations, is also likely +helping the group, investors said.Now, however, the focus is shifting to whether these +companies can withstand a widely expected economic downturn +while supporting valuations that some investors believe are too +high."To keep this rebound going, the guidance for ’23 has to be +less worse than what people are anticipating," said Peter Tuz, +president of Chase Investment Counsel, whose firm recently pared +its holdings in Apple and Microsoft.Tech and growth stocks led U.S. equity markets for years +following the 2008 financial crisis, aided by near-zero interest +rates. They struggled along with broader markets last year as +the Federal Reserve raised rates to fight surging inflation, and +some investors doubt they will regain the market's pole position +any time soon. The Nasdaq 100 fell 33% in 2022, while the S&P +500 lost 19.4%. +The top six stocks by market value in late 2021 - Apple, +Microsoft, Alphabet, Amazon, Meta and Tesla - +have seen their collective weight in the S&P 500 fall from 25% +to 18%, according to Strategas Research Partners.That dynamic echoes a pattern seen after the market’s +dot-com bubble burst after the turn of the century. The six +biggest stocks at that time saw their collective weight in the +S&P 500 decline to 5% from a peak of 17% over a number of years, +according to Strategas."This leadership unwind ... is going to be one that is +measured in years, not in months or quarters," said Chris +Verrone, head of technical and macro research at Strategas.EARNINGS TESTCompanies comprising over half the S&P 500's market value +are due to report results in the next two weeks, including +Microsoft, the second-largest U.S. company by market value, on +Tuesday, Elon Musk's Tesla and IBM on Wednesday and +Intel on Thursday. Apple, the largest U.S. company by +market value, and Google-parent Alphabet report the following +week.Fourth-quarter earnings in the tech sector are expected to +have declined 9.1% from a year ago, compared to a 2.8% decline +for S&P 500 earnings overall, according to Refinitiv IBES.A critical question for many megacaps, once heralded for +their stellar growth, is whether they can increase revenue and +profits significantly while cutting costs in the face of a +possible recession.Alphabet Inc said Friday it is cutting about +12,000 jobs, or 6% of its workforce, the latest tech giant to +announce layoffs. Microsoft on Wednesday said it would eliminate +10,000 jobs while Amazon started notifying employees of its own +18,000-person job cuts."The biggest positive could be if they could show a control +of expenses while keeping at least reasonable growth intact," +said Rick Meckler, partner at Cherry Lane Investments in New +Vernon, New Jersey. "It’s a hard balancing act."Valuations for tech and megacap companies have moderated +after last year's selloff, though they still stand above those +of the broader market. The S&P 500 tech sector still trades at a +roughly 19% premium to the broader index, above its 7% average +of the past 10 years, according to Refinitiv Datastream.Nonetheless, some investors are reluctant to bet against +tech stocks.The Wells Fargo Investment Institute counts tech as one of +its favored U.S. sectors.The firm expects an economic downturn and believes many tech +companies have businesses that are resilient to economic +uncertainty, said Sameer Samana, a senior global market +strategist there."It’s just too important and too big a weighting not to +participate," Samana said. "But the years of handily +outperforming the S&P are probably now behind us.”(Reporting by Lewis Krauskopf; Editing by Ira Iosebashvili, +John Stonestreet and Daniel Wallis) \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Wall St. rallies to end higher on Alphabet, Netflix lift.txt b/news/GOOG/2023.01.20/Wall St. rallies to end higher on Alphabet, Netflix lift.txt new file mode 100644 index 0000000000000000000000000000000000000000..4f3d9f1c37ca91e999a3a8f2ff1e64cee6630831 --- /dev/null +++ b/news/GOOG/2023.01.20/Wall St. rallies to end higher on Alphabet, Netflix lift.txt @@ -0,0 +1 @@ +The Dow climbed 1%, the S&P gained nearly 2% while the Nasdaq soared almost two and two thirds of a percent.Alphabet said it was slashing 12,000 jobs, sending its shares up more than 5%. It follows other layoff announcements from tech peers Microsoft and Amazon.David Spika is Chief Investment Officer at GuideStone Capital Management."I don't think the job losses are as dire as they might seem. If you're talking about the tech sector, the financial services sector - because a lot of companies over hired coming out of the pandemic. And I think what you're seeing now is some right-sizing with regard to that. However, some of those are layoffs in anticipation of slower economic times. And that's something that we're going to have to see. The Fed has to reduce the job market, has to reduce wage growth, in order to hit consumer spending and bring inflation down to their preferred level. And so we're gonna continue to see layoffs and that's something the Fed is looking for."Comments from Federal Reserve officials have largely said they expect interest rates to climb to at least 5% this year as the central bank continues to try to tamp down high inflation. The Fed is largely expected to raise rates by 25 basis points at its Feb. 1 policy announcement.Shares of Netflix jumped nearly 8.5% as the streaming company added more subscribers than expected in the fourth quarter and said co-founder Reed Hastings was stepping down as chief executive.Gains on the Dow were curbed, however, by a fall in shares of Goldman Sachs after the Wall Street Journal reported the Fed is probing the bank's consumer business. \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Wall Street climbs on Alphabet, Netflix lift.txt b/news/GOOG/2023.01.20/Wall Street climbs on Alphabet, Netflix lift.txt new file mode 100644 index 0000000000000000000000000000000000000000..f50d8a6eebff1155f405d1467c078613149b3c84 --- /dev/null +++ b/news/GOOG/2023.01.20/Wall Street climbs on Alphabet, Netflix lift.txt @@ -0,0 +1,49 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window.)*Netflix co-founder Hastings steps down as CEO*Google parent Alphabet to lay off 12,000 workers*Goldman Sachs falls on report of probe*Dow up 0.53%, S&P 500 up 1.30%, Nasdaq up 2.02%Jan 20 (Reuters) -U.S. stocks rose on Friday, with the S&P 500 and Dow poised +to snap a three-session losing streak and the Nasdaq rose nearly +2%, as quarterly earnings helped lift Netflix, while Google +parent Alphabet climbed after announcing job cuts.Shares of Netflix Inc jumped 7.29% as the streaming +company added more subscribers than expected in the fourth +quarter and said co-founder Reed Hastings was stepping down as +chief executive.Netflix's quarterly report comes as the technology and other +growth-related sectors face hurdles due to the rising interest +rate path of the U.S. Federal Reserve and recession worries that +have led companies such as Microsoft Corp and +Amazon.com Inc to lay off thousands of employees.Alphabet Inc was the newest company to announce +job cuts as it said it was cutting 12,000 jobs, sending shares +up 4.62%.The gains sent the communication services index up +3.28% as the top performer among the 11 major S&P 500 sectors, +putting it on track for its biggest daily percentage gain since +Nov. 30.High-growth sectors such as communication services were +among the worst performing in 2022 and were notably weaker in +the last few months of the year as investors moved towards +stocks with high dividend yields."Today’s action is probably because we had three down days +so it got into a little bit of an oversold position and they are +just doing a little bit of bargain hunting today," said Ken +Polcari, managing partner at Kace Capital Advisors in Boca +Raton, Florida."If people are viewing an opportunity, if they are getting +more comfortable with the Fed’s narrative... investors are +starting to buy into that narrative and saying 'OK that is the +way it is, let’s look at the stocks that got really beaten up' +because the market is a discounting mechanism."The Dow Jones Industrial Average rose 173.93 points, +or 0.53%, to 33,218.49, the S&P 500 gained 50.81 points, +or 1.30%, to 3,949.66 and the Nasdaq Composite added +219.11 points, or 2.02%, to 11,071.38.Even with Friday's gains, each of the major indexes was on +track for a weekly decline.Comments from Federal Reserve officials have largely said +they expect interest rates to climb to at least 5% this year as +the central bank continues to try and tamp down high inflation. +On Friday, Fed Governor Christopher Waller said the central bank +may be "pretty close" to a point where rates are "sufficiently +restrictive" to cool inflation.The Fed is largely expected to raise rates by 25 basis +points (bps) at its Feb. 1 policy announcement.Still, concerns about corporate earnings persist as the U.S. +economy shows signs of a slowdown and a possible recession.Analysts now expect year-over-year earnings from S&P 500 +companies to decline 2.9% for the fourth quarter, according to +Refinitiv data, compared with a 1.6% decline in the beginning of +the year.Gains on the Dow were curbed, however, by a 2.85% fall in +shares of Goldman Sachs Group Inc after the Wall Street +Journal reported the Fed is probing the company's consumer +business.Advancing issues outnumbered declining ones on the NYSE by a +2.72-to-1 ratio; on Nasdaq, a 2.33-to-1 ratio favored advancers.The S&P 500 posted one new 52-week high and four new lows; +the Nasdaq Composite recorded 64 new highs and 19 new lows. +(Reporting by Chuck Mikolajczak +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Wall Street gains on boost from Alphabet, Netflix.txt b/news/GOOG/2023.01.20/Wall Street gains on boost from Alphabet, Netflix.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d6cab41796bbd155c1856f392268ea86c27be8a --- /dev/null +++ b/news/GOOG/2023.01.20/Wall Street gains on boost from Alphabet, Netflix.txt @@ -0,0 +1,48 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window.)*Netflix co-founder Hastings steps down as CEO*Google parent Alphabet to lay off 12,000 workers*Goldman Sachs falls on report of probe*Indexes up: Dow 0.34%, S&P 0.86%, Nasdaq 1.44%Jan 20 (Reuters) -Wall Street's main indexes rose on Friday after Netflix +kicked off the earnings season for growth stocks on an upbeat +note, while Google parent Alphabet gained on news of job cuts.Shares of Netflix Inc jumped 6.8% as the streaming +company added more subscribers than expected in the fourth +quarter and said co-founder Reed Hastings was stepping down as +chief executive.Netflix's quarterly update comes as the technology sector +faces gloomy prospects due to rising interest rates and economic +worries that have forced companies such as Microsoft Corp +and Amazon.com Inc to lay off thousands of +employees.Alphabet Inc was the latest to join the list as it +said it was cutting 12,000 jobs on Friday. The company's shares +rose 4.1%.The gains made communication services stocks the +top gainer among major S&P 500 sectors, climbing 2.7% with +information technology in tow, helped by a 2.9% rise +in Microsoft."Between Netflix and job cuts at Alphabet we have the sense +that things may not be as bad as feared (for tech stocks)," said +David Russell, vice president of market intelligence at +TradeStation Group."Those layoffs are actually a potential positive. Big +Silicon Valley firms are good at managing earnings and these +layoffs create the potential for some interesting guidance going +forward."The utilities sector, generally known as +"defensive", fell 0.6%.Still, concerns about corporate earnings remain as the U.S. +economy shows signs of a slowdown and recession worries +increase.Analysts now expect year-over-year earnings from S&P 500 +companies to decline 2.9% for the fourth quarter, according to +Refinitiv data, compared with a 1.6% decline in the beginning of +the year.Wall Street's main indexes ended the previous session lower +after resilient labor market data renewed concerns the Federal +Reserve would continue its aggressive rate-hiking cycle despite +recent evidence pointing to easing price pressures.Commentary from Fed officials has pointed to a terminal rate +above 5%, while money market participants still bet rates +peaking at 4.9% by June and see a 93.7% chance for a 25-basis +point rate hike in February.Philadelphia Fed President Patrick Harker repeated on Friday +his view that it's time to move to a slower pace of rate rises, +while outgoing Kansas City Fed President Esther George said more +evidence is needed to gauge a slowdown in services sector +inflation.At 12:12 p.m. ET, the Dow Jones Industrial Average +was up 110.93 points, or 0.34%, at 33,155.49, the S&P 500 +was up 33.47 points, or 0.86%, at 3,932.32, and the Nasdaq +Composite was up 156.63 points, or 1.44%, at 11,008.90.Weighing on the Dow, shares of Goldman Sachs Group Inc +dropped 2.2% after the Wall Street Journal reported the +Federal Reserve is probing the company's consumer business.Advancing issues outnumbered decliners by a 2.40-to-1 ratio +on the NYSE and by a 2.17-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week high and four new +lows, while the Nasdaq recorded 52 new highs and 16 new lows. +(Reporting by Shreyashi Sanyal and Amruta Khandekar; Additional +reporting by Shubham Batra in Bengaluru; Editing by Anil +D'Silva, Shounak Dasgupta and Maju Samuel) \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Wall Street rallies to end higher on Alphabet, Netflix lift.txt b/news/GOOG/2023.01.20/Wall Street rallies to end higher on Alphabet, Netflix lift.txt new file mode 100644 index 0000000000000000000000000000000000000000..e32b5784766a80f8b08bac87a66f648cc78f0f85 --- /dev/null +++ b/news/GOOG/2023.01.20/Wall Street rallies to end higher on Alphabet, Netflix lift.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click LIVE/ or type LIVE/ in a news window.)*Netflix co-founder Hastings steps down as CEO*Google parent Alphabet to lay off 12,000 workers*Goldman Sachs falls on report of probe*Dow up 1%, S&P 500 up 1.89%, Nasdaq up 2.66%Jan 20 (Reuters) - U.S. stocks rallied to close higher +on Friday, as the S&P 500 and Dow snapped a three-session losing +streak and the Nasdaq rose more than 2%, as quarterly earnings +helped lift Netflix, while Google parent Alphabet climbed after +announcing job cuts.Shares of Netflix Inc jumped 8.46% as the streaming +company added more subscribers than expected in the fourth +quarter and said co-founder Reed Hastings was stepping down as +chief executive.Netflix's quarterly report comes as the technology +and other growth-related sectors face hurdles due to the rising +interest rate path of the U.S. Federal Reserve and recession +worries that have led companies such as Microsoft Corp +and Amazon.com Inc to lay off thousands of employees.Alphabet Inc was the most recent company to +announce job cuts as it said it was cutting 12,000 jobs, sending +shares 5.34% higher.The gains sent the communication services index up +3.96% as the top performer among the 11 major S&P 500 sectors, +notching its biggest daily percentage gain since Nov. 30.High-growth sectors such as communication services were +among the worst performing in 2022 and were notably weaker in +the last few months of the year as investors gravitated towards +stocks with high dividend yields."Today’s action is probably because we had three down days +so it got into a little bit of an oversold position and they are +just doing a little bit of bargain hunting today," said Ken +Polcari, managing partner at Kace Capital Advisors in Boca +Raton, Florida."If people are viewing an opportunity, if they are getting +more comfortable with the Fed’s narrative... investors are +starting to buy into that narrative and saying 'OK that is the +way it is, let’s look at the stocks that got really beaten up' +because the market is a discounting mechanism."The Dow Jones Industrial Average rose 330.93 points, +or 1%, to 33,375.49, the S&P 500 gained 73.76 points, or +1.89%, to 3,972.61 and the Nasdaq Composite added 288.17 +points, or 2.66%, to 11,140.43.For the week, the Dow lost 2.7%, the S&P 500 shed 0.66% and +the Nasdaq gained 0.55%.Comments from Federal Reserve officials have largely said +they expect interest rates to climb to at least 5% this year as +the central bank continues to try and tamp down high inflation. +On Friday, Fed Governor Christopher Waller said the central bank +may be "pretty close" to a point where rates are "sufficiently +restrictive" to cool inflation, which gave an additional boost +to equities.The Fed is largely expected to raise rates by 25 basis +points (bps) at its Feb. 1 policy announcement.Still, concerns about corporate earnings persist as the U.S. +economy shows signs of a slowdown and a possible recession.Analysts now expect year-over-year earnings from S&P 500 +companies to decline 2.9% for the fourth quarter, according to +Refinitiv data, compared with a 1.6% decline in the beginning of +the year.Gains on the Dow were curbed, however, by a 2.54% fall in +shares of Goldman Sachs Group Inc after the Wall Street +Journal reported the Fed was probing the company's consumer +business.Volume on U.S. exchanges was 11.90 billion shares, compared +with the 10.87 billion average for the full session over the +last 20 trading days.Advancing issues outnumbered declining ones on the NYSE by a +3.55-to-1 ratio; on Nasdaq, a 2.63-to-1 ratio favored advancers.The S&P 500 posted one new 52-week high and four new lows; +the Nasdaq Composite recorded 77 new highs and 20 new lows. +(Reporting by Chuck Mikolajczak +Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/GOOG/2023.01.20/Young northern Europeans flock to Spain's Malaga to work remotely.txt b/news/GOOG/2023.01.20/Young northern Europeans flock to Spain's Malaga to work remotely.txt new file mode 100644 index 0000000000000000000000000000000000000000..473491e3468fe2e635cd2d4046f645cc81774993 --- /dev/null +++ b/news/GOOG/2023.01.20/Young northern Europeans flock to Spain's Malaga to work remotely.txt @@ -0,0 +1 @@ +Aedas Homes said its sales to foreigners in Costa del Sol doubled last year, from 124 units sold in 2021 to 248 in 2022, while Neinor Homes SA said about 40% of young people taking on long-term rents in the city since they launched a rental division in 2020 were foreign. That compares with almost no international customers elsewhere in Spain.Property purchases by foreigners increased by 62% from a year earlier in the region of Andalusia, which includes Malaga, in the first half of 2022, according to the Centre for Statistical Information of Notaries.Malaga's town council said a platform launched in February 2021 to help so-called digital nomads, www.malagaworkbay.com, had received more than 160,000 visits by the end of 2022.Millions of workers were forced to work from home during lockdowns aimed at stalling the spread of COVID-19 in 2020 and many companies have allowed the shift to become permanent - with employees discovering they can now work from anywhere.Aedas CEO David Martinez said the homebuilder had seen a spike in sales to people from Poland and the Czech Republic, countries feeling the proximity to the Ukraine war, as well as Belgians, French and Nordics."I don't think it's just the war," Martinez told Reuters. "I think it's that lots of people have had a rethink about their lives post-COVID."TECH HUBMalaga has been working to position itself as a tech hub that can attract foreign talent rather than just a gateway to the beaches and golf courses further south. The local government last year eliminated a wealth tax that obliges residents and non-residents to pay income tax on money held abroad. The policy is bearing fruit. Google-owner Alphabet Inc. chose the city as the location for a European cybersecurity hub because of the number of tech start-ups already based there, according to the Spanish government. Citigroup announced in March 2022 plans to open a hub for junior investment bankers in the city, offering what it said was "a better equilibrium between work and private life to attract young talent".The pull of southern Europe for northern Europeans was amplified by the pandemic, Neinor Homes CEO Borja Garcia-Egotexeaga told Reuters, as companies struggling to hold on to their best employees are giving them the freedom to work from sunnier climes. "Companies in Europe could consider measures such as lowering the salary or paying less to those who seek to work remotely from other countries, because the employee will be happy because they have some freedom," he said. (Additional reporting by Jesus Aguado; Writing by Charlie Devereux; Editing by Andrei Khalip and Alex Richardson)By Charlie Devereux and Corina Pons \ No newline at end of file diff --git a/news/GOOG/2023.01.22/INDIA STOCKS-Indian shares open higher; financials gain on strong earnings.txt b/news/GOOG/2023.01.22/INDIA STOCKS-Indian shares open higher; financials gain on strong earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..6260b9cf0a472ec51681ec157db0e17165ba1d07 --- /dev/null +++ b/news/GOOG/2023.01.22/INDIA STOCKS-Indian shares open higher; financials gain on strong earnings.txt @@ -0,0 +1,22 @@ +BENGALURU, Jan 23 (Reuters) - Indian stocks opened +higher on Monday as financial stocks ticked up after some banks +reported strong quarterly numbers over the weekend, while a Wall +Street rally in the previous session helped broader sentiment.The Nifty 50 index was up 0.34% at 18,902.95 as of +9:28 a.m. IST, while the S&P BSE Sensex rose 0.38% to +60,861.18.Most of the major sectoral indexes gained, with the +high-weightage financials sub index rising over +0.6%.Private lenders ICICI Bank and Kotak Mahindra Bank +advanced 1% each, after reporting a rise in net profit +and healthy loan growth in the third quarter over the weekend.Shares of India's largest company by market capitalisation, +Reliance Industries were volatile after reporting a +bigger-than-expected fall in net profit in the December quarter, +post market hours on Friday.On the flipside, shares of Yes Bank tumbled after +logging 80% net slide in net profit as provisions for bad loans +surged in December quarter.Thirty-four of the Nifty 50 constituents advanced while 16 +declined.Wall Street equities rallied to close higher on Friday, as +upbeat quarterly earnings helped lift Netflix, while Google +parent Alphabet climbed after announcing job cuts.Most Asian equities were closed on Monday for the Lunar New +Year holidays. +($1 = 80.9790 Indian rupees) +(Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru; +Editing by Nivedita Bhattacharjee) \ No newline at end of file diff --git a/news/GOOG/2023.01.22/Indian shares set to open higher; key earnings to provide direction.txt b/news/GOOG/2023.01.22/Indian shares set to open higher; key earnings to provide direction.txt new file mode 100644 index 0000000000000000000000000000000000000000..b9fd29fc4dc789a06c39a24bdd3dea8d983d34a0 --- /dev/null +++ b/news/GOOG/2023.01.22/Indian shares set to open higher; key earnings to provide direction.txt @@ -0,0 +1 @@ +India's NSE stock futures listed on the Singapore exchange were up 0.53% at 18,140.50, as of 7:32 a.m. IST.Domestic equities will react to a host of key earnings from Friday and over the weekend, including that of heavyweights Reliance Industries, ICICI Bank and Kotak Mahindra Bank Ltd. Financial stocks could gain after robust quarterly earnings results from top banks over the weekend. Wall Street equities rallied to close higher on Friday, as upbeat quarterly earnings helped lift Netflix, while Google parent Alphabet climbed after announcing job cuts. Most Asian equities were closed on Monday for the Lunar New Year holidays.Foreign institutional investors sold 20.02 billion rupees ($247.22 million) worth of shares on Friday on a net basis, while domestic investors bought 15.10 billion rupees of shares on a net basis, as per provisional NSE data. STOCKS TO WATCH ** Reliance Industries Ltd on Friday reported a bigger-than-expected drop in quarterly profit as India's biggest company by market valuation took a hit from the government's windfall tax on fuel exports.** Kotak Mahindra Bank reported a 31% increase in net profit on Saturday for the October-December quarter, aided by a strong top line and healthy loan growth.** ICICI Bank on Saturday reported a 34.2% increase in net profit for the October-December quarter, on the back of improved revenues and healthy loan growth.** India's top cement maker, UltraTech Cement, reported a 38% decrease in quarterly profit on Saturday, dented by a surge in expenses.** Yes Bank reported a surprise 80% plunge in quarterly profit on Saturday as provisions for bad loans increased.** SBI Life Insurance Co reported a 16% fall in third-quarter profit on Saturday, dragged down by an increase in expenses. ($1 = 80.9790 Indian rupees) (Reporting by Rama Venkat in Bengaluru; Editing by Janane Venkatraman) \ No newline at end of file diff --git a/news/GOOG/2023.01.22/Spotify to cut staff as soon as this week - Bloomberg News.txt b/news/GOOG/2023.01.22/Spotify to cut staff as soon as this week - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..4f278aa560280d95e258a549ca333362cd7ad923 --- /dev/null +++ b/news/GOOG/2023.01.22/Spotify to cut staff as soon as this week - Bloomberg News.txt @@ -0,0 +1 @@ +The report, which cited sources, said that the number of jobs being eliminated was not specified.Spotify did not immediately respond to a Reuters' request for comment.Tech firms shed jobs last year as a demand boom during the pandemic rapidly fizzled, and layoffs have continued this year with companies looking to rein in costs to ride out the economic downturn.In the last few weeks, Google parent Alphabet said it would eliminate 12,000 jobs, while Microsoft said it would eliminate 10,000. Amazon's layoff round will impact more than 18,000 roles.Other tech companies like Facebook-parent Meta and Elon Musk's Twitter laid off thousands late last year. (Reporting by Rahat Sandhu in Bengaluru; Editing by Eileen Soreng) \ No newline at end of file diff --git a/news/GOOG/2023.01.22/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt b/news/GOOG/2023.01.22/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a32aaab561f7ebb22f6b9f34917c77f47e0648f --- /dev/null +++ b/news/GOOG/2023.01.22/Wall St Week Ahead-Tech stock rebound faces doubters with earnings season ahead.txt @@ -0,0 +1,66 @@ +NEW YORK, Jan 20 (Reuters) - A spate of earnings reports +in coming weeks is set to test a recent bounce in technology and +other megacap stocks, a category whose leadership position in +U.S. markets has faltered after last year’s deep selloff.The tech-heavy Nasdaq 100 index has gained nearly +6.2% in 2023, compared to a 3.45% rise for the S&P 500. +Shares of some megacap companies - which include those grouped +outside of tech in sectors like communication services and +consumer discretionary - have shot higher, with Amazon, +Meta Platforms and Nvidia posting double-digit +percentage increases.Several factors are driving that outperformance, including +investors piling into stocks they believe were overly punished +in 2022. A moderation in bond yields, whose jump last year +particularly pressured tech-stock valuations, is also likely +helping the group, investors said.Now, however, the focus is shifting to whether these +companies can withstand a widely expected economic downturn +while supporting valuations that some investors believe are too +high."To keep this rebound going, the guidance for ’23 has to be +less worse than what people are anticipating," said Peter Tuz, +president of Chase Investment Counsel, whose firm recently pared +its holdings in Apple and Microsoft.Tech and growth stocks led U.S. equity markets for years +following the 2008 financial crisis, aided by near-zero interest +rates. They struggled along with broader markets last year as +the Federal Reserve raised rates to fight surging inflation, and +some investors doubt they will regain the market's pole position +any time soon. The Nasdaq 100 fell 33% in 2022, while the S&P +500 lost 19.4%. +The top six stocks by market value in late 2021 - Apple, +Microsoft, Alphabet, Amazon, Meta and Tesla - +have seen their collective weight in the S&P 500 fall from 25% +to 18%, according to Strategas Research Partners.That dynamic echoes a pattern seen after the market’s +dot-com bubble burst after the turn of the century. The six +biggest stocks at that time saw their collective weight in the +S&P 500 decline to 5% from a peak of 17% over a number of years, +according to Strategas."This leadership unwind ... is going to be one that is +measured in years, not in months or quarters," said Chris +Verrone, head of technical and macro research at Strategas.EARNINGS TESTCompanies comprising over half the S&P 500's market value +are due to report results in the next two weeks, including +Microsoft, the second-largest U.S. company by market value, on +Tuesday, Elon Musk's Tesla and IBM on Wednesday and +Intel on Thursday. Apple, the largest U.S. company by +market value, and Google-parent Alphabet report the following +week.Fourth-quarter earnings in the tech sector are expected to +have declined 9.1% from a year ago, compared to a 2.8% decline +for S&P 500 earnings overall, according to Refinitiv IBES.A critical question for many megacaps, once heralded for +their stellar growth, is whether they can increase revenue and +profits significantly while cutting costs in the face of a +possible recession.Alphabet Inc said Friday it is cutting about +12,000 jobs, or 6% of its workforce, the latest tech giant to +announce layoffs. Microsoft on Wednesday said it would eliminate +10,000 jobs while Amazon started notifying employees of its own +18,000-person job cuts."The biggest positive could be if they could show a control +of expenses while keeping at least reasonable growth intact," +said Rick Meckler, partner at Cherry Lane Investments in New +Vernon, New Jersey. "It’s a hard balancing act."Valuations for tech and megacap companies have moderated +after last year's selloff, though they still stand above those +of the broader market. The S&P 500 tech sector still trades at a +roughly 19% premium to the broader index, above its 7% average +of the past 10 years, according to Refinitiv Datastream.Nonetheless, some investors are reluctant to bet against +tech stocks.The Wells Fargo Investment Institute counts tech as one of +its favored U.S. sectors.The firm expects an economic downturn and believes many tech +companies have businesses that are resilient to economic +uncertainty, said Sameer Samana, a senior global market +strategist there."It’s just too important and too big a weighting not to +participate," Samana said. "But the years of handily +outperforming the S&P are probably now behind us.”(Reporting by Lewis Krauskopf; Editing by Ira Iosebashvili, +John Stonestreet and Daniel Wallis) \ No newline at end of file diff --git a/news/GOOG/2023.01.23/DOJ poised to sue Google over digital ad market dominance - Bloomberg News.txt b/news/GOOG/2023.01.23/DOJ poised to sue Google over digital ad market dominance - Bloomberg News.txt new file mode 100644 index 0000000000000000000000000000000000000000..1e86b5cc49e6fa4eb33a071d9ba70a60fbe99cfa --- /dev/null +++ b/news/GOOG/2023.01.23/DOJ poised to sue Google over digital ad market dominance - Bloomberg News.txt @@ -0,0 +1 @@ +The lawsuit would be the second federal antitrust complaint filed against Google, alleging violations of antitrust law in how the tech giant acquires or maintains its dominance. The Justice Department lawsuit filed against Google in 2020 focuses on its monopoly in search and is scheduled to go to trial in September.The Justice Department did not immediately respond to a Reuters request for comment, while Google declined to comment on the report.The lawsuit is expected to take an aim at Google's advertising business, which is responsible for some 80% of its revenue. In addition to its well-known search, which is free, Google makes revenue through its interlocking ad tech businesses, which connect advertisers with newspapers, websites and other firms looking to host them.Advertisers and website publishers have complained that Google has not been transparent about where ad dollars go, specifically how much goes to publishers and how much to Google.The tech giant made a series of purchases, including DoubleClick in 2008 and AdMob in 2009, to help make it a dominant player in online advertising.Google had previously argued that the ad tech ecosystem was competitive with Facebook Inc, AT&T, Comcast and others. While Google remains the market leader by a long shot, its share of the U.S. digital ad revenue has been eroding, falling from 36.7% in 2016 to 28.8% last year, according to Insider Intelligence. (Reporting by Diane Bartz and Akriti Sharma; Editing by Subhranshu Sahu) \ No newline at end of file diff --git a/news/GOOG/2023.01.23/Demand recovery hopes help copper towards seven-month high.txt b/news/GOOG/2023.01.23/Demand recovery hopes help copper towards seven-month high.txt new file mode 100644 index 0000000000000000000000000000000000000000..da31089d487e37540a22ae069b97568472ce9a01 --- /dev/null +++ b/news/GOOG/2023.01.23/Demand recovery hopes help copper towards seven-month high.txt @@ -0,0 +1,32 @@ +LONDON, Jan 23 (Reuters) - Copper prices rose on Monday, +heading back towards the seven-month highs seen last week on +improving prospects for demand in top consumer China, low +inventories and a weaker dollar.However, traders said activity was subdued due to the +Chinese Lunar new year holiday.Benchmark copper on the London Metal Exchange was up +0.3% at $9,349 a tonne at 1706 GMT. Prices of the metal used in +the power and construction industries rose to $9,550.50 last +week, the highest since June 6."Copper is up over 12% this year on positive sentiment +surrounding China's re-opening narrative, physical stockpile +shortages and a weaker dollar," said Giles Coghlan, an analyst +at broker HYCM."None of these look like changing much in the near term, but +it's a big week for U.S. earnings. If markets start to price in +a greater chance of a U.S. recession, that could weigh on +sentiment which could in turn impact copper's near term prices."Companies accounting for more than half the S&P 500's market +value are reporting over the next two weeks. Microsoft +results are due on Tuesday, followed by Elon Musk's Tesla +on Wednesday, while Apple and Google parent +Alphabet report next week.Also on the agenda this week is a spate of U.S. data on +growth, manufacturing and price pressures, which may yield clues +to the Federal Reserve's monetary policy intentions.Worries about supplies from Peru due to social unrest are +also helping to support copper prices.Demand for industrial metals overall is expected to pick up +soon after the Chinese holiday as companies restock ahead of a +pick-up in manufacturing activity.A lower U.S. currency makes dollar-priced metals cheaper for +holders of other currencies, which could subdue demand.Traders are watching copper inventories in LME-registered +warehouses , which at 78,300 tonnes are heading +towards 10-month lows hit last November.Cancelled warrants - metal earmarked for delivery - at 37% +of the total suggest more copper is due to leave LME warrant.In other metals, aluminium climbed 1% to $2,637, +zinc gained 0.2% to $3,427, lead slipped 1.7% to +$2,053, tin was down 0.1% to $29,505 and nickel +fell 2.2% to $28,140. +(Reporting by Pratima Desai; additional reporting by Neha +Arora; Editing by Jan Harvey and Chizu Nomiyama) \ No newline at end of file diff --git "a/news/GOOG/2023.01.23/Doj poised to sue google over digital ad market dominance - bloo\342\200\246.txt" "b/news/GOOG/2023.01.23/Doj poised to sue google over digital ad market dominance - bloo\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..0071dbbaa0db57ac68a68157e2ac348bfe49a580 --- /dev/null +++ "b/news/GOOG/2023.01.23/Doj poised to sue google over digital ad market dominance - bloo\342\200\246.txt" @@ -0,0 +1 @@ +DOJ POISED TO SUE GOOGLE OVER DIGITAL AD MARKET DOMINANCE - BLOOMBERG NEWS \ No newline at end of file diff --git a/news/GOOG/2023.01.23/Futures subdued with earnings in full swing, Salesforce up on Elliot stake.txt b/news/GOOG/2023.01.23/Futures subdued with earnings in full swing, Salesforce up on Elliot stake.txt new file mode 100644 index 0000000000000000000000000000000000000000..f4eba452fa5f535afb60f0cd18ea53e7a323e657 --- /dev/null +++ b/news/GOOG/2023.01.23/Futures subdued with earnings in full swing, Salesforce up on Elliot stake.txt @@ -0,0 +1 @@ +A slew of earnings in the coming weeks will also test the recent bounce in certain technology and growth stocks that took a large hit last year. Concerns of a possible recession amid a high interest rate environment have hit growth-related sectors, driving major tech companies such as Microsoft Corp, Amazon.com Inc and Alphabet Inc to lay off thousands of employees. Companies which make up more than half the S&P 500 index's market value will report earnings in the next two weeks, with Microsoft, the second-largest U.S. firm by market value, posting results on Tuesday, Tesla Inc and IBM on Wednesday and Intel on Thursday. Shares of cloud-based software firm Salesforce Inc rose 4.0% in premarket trading to lead gains among Dow components after activist investor Elliott Management Corp made a multi-billion-dollar investment in the company, according to people familiar with the matter. At 6:17 a.m. ET, Dow e-minis were down 5 points, or 0.01%, S&P 500 e-minis were down 3.25 points, or 0.08%, and Nasdaq 100 e-minis were down 5.75 points, or 0.05%. Data recently has pointed to some signs of inflation cooling but has also highlighted a tight labor market, which is key for the Federal Reserve to continue its aggressive rate-hiking cycle. Qualcomm Inc and Advanced Micro Devices Inc climbed around 2% each, after brokerage Barclays upgraded the chipmakers to "overweight" from "equal-weight". Payments firm PayPal Holdings Inc fell 2.1% after Germany's cartel office regulator said it had initiated proceedings against PayPal Europe over possible hindrance against competitors. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOG/2023.01.23/Global markets live: Abbott, Goldman Sachs, Alphabet, Eli Lilly, Pay...txt b/news/GOOG/2023.01.23/Global markets live: Abbott, Goldman Sachs, Alphabet, Eli Lilly, Pay...txt new file mode 100644 index 0000000000000000000000000000000000000000..64b61f120291b72a575fc2343ade9eb3c84e52bb --- /dev/null +++ b/news/GOOG/2023.01.23/Global markets live: Abbott, Goldman Sachs, Alphabet, Eli Lilly, Pay...txt @@ -0,0 +1,24 @@ + +  +  + +Abbott has confirmed that it is under investigation by the U.S. Department of Justice regarding the closure of its infant milk plant. +Elliott takes a multibillion-dollar stake in Salesforce. +Goldman Sachs asset management arm will significantly reduce its $59 billion in alternative investments that are weighing on the bank's performance, an executive told Reuters. +Apple wants India to account for as much as 25 percent of its production, up from about 5 percent to 7 percent now, India's commerce minister said Monday. +Nokia and Samsung agree on a new 5G patent licensing deal. +Alphabet, Google's parent company, announces a large-scale redundancy plan with the elimination of about 12,000 jobs worldwide. +Union Investment, one of Bayer's shareholders, criticized on Sunday the lack of initiative of the group's chairman. +Holcim is buying up aggregates activities in the United States. +Salzgitter wants to cut about 500 to 800 jobs by 2033. +The FDA won't do an accelerated review for Eli Lilly's Alzheimer's treatment. +Elon Musk announces a new, more expensive subscription to hide ads on Twitter. +The owners of UK supermarkets Asda and EG Group are reportedly considering a merger. +Saga is looking to sell its insurance underwriting business, according to the British press. +Western Digital and Japan's Kioxia Holdings are in advanced discussions for a possible merger that will involve a dual listing, Bloomberg reports. +The German cartel regulator announced that it was launching proceedings against PayPal on suspicion of possible antitrust violations. +Baker Hughes reported a lower-than-expected fourth-quarter profit as the oilfield services company struggled with component shortages, the impact of inflation and disruptions caused by the war in Ukraine. +Spotify Technology announced plans to cut 6% of its workforce, or about 600 positions. +Silvergate Capital, a cryptocurrency specialist, assured Friday after-hours that it had limited exposure to Genesis, the latest player in the sector to file for bankruptcy. + +Main earnings reports today: Baker Hughes, Secunet... All the agenda is here.  diff --git a/news/GOOG/2023.01.23/Microsoft to invest more in OpenAI as arms race in tech heats up.txt b/news/GOOG/2023.01.23/Microsoft to invest more in OpenAI as arms race in tech heats up.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d7875ff733e69ff44712cc838b625074be22bae --- /dev/null +++ b/news/GOOG/2023.01.23/Microsoft to invest more in OpenAI as arms race in tech heats up.txt @@ -0,0 +1,12 @@ +Jan 23 (Reuters) - Microsoft Corp said on +Monday it would invest more in OpenAI, staking its future on the +startup and technology behind the chatbot sensation ChatGPT and +setting the stage for more competition with its rival Alphabet +Inc's Google."Today, we are announcing the third phase of our long-term +partnership with OpenAI through a multiyear, multibillion dollar +investment to accelerate AI breakthroughs to ensure these +benefits are broadly shared with the world," the software giant +said in a blog post. +(Reporting By Jeffrey Dastin in Palo Alto, Calif.; Additional +reporting by Eva Mathews in Bengaluru; Editing by Krishna +Chandra Eluri) \ No newline at end of file diff --git a/news/GOOG/2023.01.23/Microsoft to invest more in OpenAI as tech race heats up.txt b/news/GOOG/2023.01.23/Microsoft to invest more in OpenAI as tech race heats up.txt new file mode 100644 index 0000000000000000000000000000000000000000..4ed9963d1b1bfba2ae85f22d7492ea61a8750705 --- /dev/null +++ b/news/GOOG/2023.01.23/Microsoft to invest more in OpenAI as tech race heats up.txt @@ -0,0 +1 @@ +Recently touting a revolution in artificial intelligence (AI), Microsoft is building on a bet it made nearly four years ago on OpenAI. In 2019 it dedicated $1 billion for the startup co-founded by Elon Musk and investor Sam Altman, and has since built a supercomputer to power OpenAI's technology, among other forms of support.In a blog post, Microsoft said, "Today, we are announcing the third phase of our long-term partnership with OpenAI through a multiyear, multibillion dollar investment to accelerate AI breakthroughs to ensure these benefits are broadly shared with the world."A Microsoft spokesperson declined to comment on the terms of the investment, which some media outlets earlier reported would be $10 billion.Microsoft is committing even more resources to keep the two companies at the forefront via so-called generative AI, technology that can learn from vast data how to create virtually any type of content simply from a text prompt. OpenAI's ChatGPT, which produces prose or poetry on command, is the prime example that last year gained widespread attention in Silicon Valley.Microsoft last week said it aimed to imbue such AI into all its products, as OpenAI continues to pursue the creation of human-like intelligence for machines. Microsoft is already adding OpenAI's tech to Bing, its search engine that for the first time in years is being discussed as a potential rival to Google, the industry leader.The widely anticipated investment shows how Microsoft is locked in competition with Google, the inventor of key AI research that's now planning its own unveil for this spring, a person familiar with the matter previously told. (Reporting By Jeffrey Dastin in Palo Alto, Calif.; Additional reporting by Eva Mathews in Bengaluru; Editing by Krishna Chandra Eluri, Kirsten Donovan) \ No newline at end of file diff --git a/news/GOOG/2023.01.23/Microsoft, Amazon results to highlight softening cloud business.txt b/news/GOOG/2023.01.23/Microsoft, Amazon results to highlight softening cloud business.txt new file mode 100644 index 0000000000000000000000000000000000000000..5b9476f2c330a6dd508f0f7381c1373d1065d016 --- /dev/null +++ b/news/GOOG/2023.01.23/Microsoft, Amazon results to highlight softening cloud business.txt @@ -0,0 +1 @@ +After years of blistering growth, most recently fuelled by remote working and studying during the pandemic, cloud demand has cooled in the past nine months and sales growth may slow further, analysts said.End-user cloud spending for services including those from the world's largest providers - Amazon Web Services (AWS) and Microsoft's Azure - is expected to grow 20.7% this year after 18.8% growth in 2022 and 52.8% in 2021, according to research firm Gartner."A lot of companies are slowing their migration to the cloud or asking for a lower price on their existing plans," RBC Capital Markets analyst Rishi Jaluria said. Microsoft Chief Executive Satya Nadella said last week that businesses were exercising caution as "some parts of the world are in a recession and other parts are anticipating one".THE CONTEXTAzure is set to grow 31% in the December quarter, according to Visible Alpha, its weakest growth since the Redmond, Washington-based company started breaking out the unit's numbers in 2015. AWS, Amazon's lucrative cloud business from which it gets more than a quarter of its revenue, is expected to post a 24% increase in sales in the quarter. It grew 28% in the July-September period.The slowdown is also expected to weigh on Alphabet Inc, the third-largest cloud provider, a sign that the overall market was maturing, analysts said. "Easy to move" workloads are already on the cloud and it will be harder for providers to encourage businesses to move the next batch of workloads to their platforms, brokerage UBS said earlier this month. Microsoft has also taken a hit from a slump in the personal computer market, where its Windows software is still the dominant operating system. Amazon, too, is feeling the heat from slowing retail demand.THE FUNDAMENTALS* Microsoft Q2 revenue is expected to rise 2.5% to $53 billion, the slowest increase in six years.* Amazon Q4 revenue is expected to rise 5.8% to $145.40 billion.WALL STREET SENTIMENT* 47 of 53 analysts rate Microsoft's stock "buy" or higher, and have a median price target of $285.* Microsoft shares have fallen 19% in the past 12 months.* 48 of 52 analysts rate Amazon's stock as "buy" or higher, and have a median price target of $135.* Amazon shares have fallen 32% in the past 12 months. (Reporting by Aditya Soni and Yuvraj Malik in Bengaluru; Editing by Anil D'Silva)By Yuvraj Malik and Aditya Soni \ No newline at end of file diff --git a/news/GOOG/2023.01.23/Spotify to trim 6% of workforce in latest tech layoffs.txt b/news/GOOG/2023.01.23/Spotify to trim 6% of workforce in latest tech layoffs.txt new file mode 100644 index 0000000000000000000000000000000000000000..c264a0f8ef56d010eed5865a294a9fd4c1f9580b --- /dev/null +++ b/news/GOOG/2023.01.23/Spotify to trim 6% of workforce in latest tech layoffs.txt @@ -0,0 +1,29 @@ +Jan 23 (Reuters) - Spotify Technology SA said +on Monday it plans to cut 6% of its workforce and would take a +related charge of up to nearly $50 million, adding to the +massive layoffs in the technology sector in preparation for a +possible recession.The tech industry is facing a demand downturn after two +years of pandemic-powered growth during which it had hired +aggressively. That has led firms from Meta Platforms Inc +to Microsoft Corp to shed thousands of jobs."Over the last few months we've made a considerable effort +to rein in costs, but it simply hasn't been enough," Chief +Executive Daniel Elk said in a blog post announcing the roughly +600 job cuts."I was too ambitious in investing ahead of our revenue +growth," he added, echoing a sentiment voiced by other tech +bosses in recent months.Spotify's operating expenditure grew at twice the speed of +its revenue last year as the audio-streaming company +aggressively poured money into its podcast business, which is +more attractive for advertisers due to higher engagement levels.At the same time, businesses pulled back on ad spending on +the platform, mirroring a trend seen at Meta and Google parent +Alphabet Inc, as rapid interest rate hikes and the +fallout from the Russia-Ukraine war pressured the economy.The company, whose shares rose 5.8% to $103.55, is now +restructuring itself in a bid to cut costs and adjust to the +deteriorating economic picture.It said Dawn Ostroff, the head of content and advertising, +was leaving after an over four-year stint at the company. +Ostroff helped shape Spotify's podcast business and guided it +through backlash around Joe Rogan's show for allegedly spreading +misinformation about COVID-19.The company said it is appointing Alex Norström, head of the +freemium business, and research and development boss Gustav +Söderström as co-presidents.Spotify had about 9,800 full-time employees as of Sept. 30. +($1 = 0.9196 euros)(Reporting by Eva Mathews in Bengaluru; Editing by Sherry +Jacob-Phillips and Shailesh Kuber) \ No newline at end of file diff --git a/news/GOOG/2023.01.23/Stocks, euro gain amid divergent Fed, ECB rate hike outlooks.txt b/news/GOOG/2023.01.23/Stocks, euro gain amid divergent Fed, ECB rate hike outlooks.txt new file mode 100644 index 0000000000000000000000000000000000000000..347dbbae219b26ecd7c2f2a895eb6b525f808eef --- /dev/null +++ b/news/GOOG/2023.01.23/Stocks, euro gain amid divergent Fed, ECB rate hike outlooks.txt @@ -0,0 +1,52 @@ +*Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn*Graphic: World FX rates http://tmsnrt.rs/2egbfVhNEW YORK/LONDON, Jan 23 (Reuters) - Global equity +markets edged higher on Monday as hopes of a less aggressive +Federal Reserve buoyed investor sentiment, while the euro hit a +nine-month peak against the dollar on the rising likelihood of +more jumbo interest rate hikes in Europe.The start of another big week for U.S. corporate earnings is +expected to test a recent bounce in beaten-down technology and +growth stocks as speculation grows that the Fed on Feb. 1 will +only raise its key rate by 25 basis points.European shares edged up 0.41% as declining natural +gas prices have eased recession fears in the euro zone, despite +expectations the European Central Bank will hike rates by 50 +basis points on Feb. 2 and in March, a Reuters poll shows.The euro shot to $1.0927 as it climbs from a +two-decade low of $0.953 in September, but the single currency +later pared gains against the dollar to $1.0867."The combination of a risk-off mood in the stock market and +the divergence between the Fed and ECB allowed the euro to make +new highs above 109," said Marc Chandler, chief market +strategist at Bannockburn Global Forex in New York.Gains in chipmakers boosted the technology sector, which has +been hit by recession concerns amid high interest rates, leading +Microsoft Corp, Amazon.com Inc and Alphabet +Inc to lay off thousands of employees.Investors are anxious to hear from corporate executives +about their economic outlook in a week in which Microsoft posts +results on Tuesday, Tesla Inc and IBM on +Wednesday and Intel on Thursday.Analysts expect year-over-year fourth-quarter earnings from +S&P 500 companies to decline 2.9%, according to IBES Refinitiv +data, compared with a 1.6% decline at the beginning of the year.The Dow Jones Industrial Average rose 0.72%, the S&P +500 gained 0.99% and the Nasdaq Composite added +1.55%, pushing ahead from gains last Friday, its best session +since late November.Trading was thin in Asia, as markets in China, Hong Kong, +Singapore, Malaysia, South Korea and Taiwan were closed for the +Lunar New Year holiday.MSCI's gauge of stocks across the globe +gained 0.82%.Money markets are pricing in a 97.8% chance that the Fed +will raise rates by 25 basis points next month, and have lowered +the likely peak rate to 4.906% in June, below Fed projections of +its target rate staying above 5% into next year.."The market’s still quite buoyant at the moment," said Peter +Chatwell, head of global macro strategies trading at Mizuho, who +said markets were being driven by the idea that U.S. inflation +has peaked.Investors are waiting for euro zone and U.S. flash PMI data +on Tuesday, which are expected to show less severe economic +contractions than the previous month, according to analysts +polled by Reuters. The data is forecast to show more improvement +in Europe than in the United States.Sterling traded at $1.2368, down 0.20%, while the +Australian dollar, seen as a proxy for risk appetite, rose 0.56% +to $0.7005. The Japanese yen weakened 0.70% at 130.49 per +dollar.Treasury yields crept up to further erode a recent bond +rally that some investors say was overdone in reflecting fears +that the U.S. economy may soon enter a recession.The yield on 10-year Treasury notes rose 2.4 +basis points to 3.508%.Euro zone bonds were little changed, with the benchmark +10-year German yield at 2.191%.Crude prices rose to extend last week's gains on the back of +a stronger outlook thanks to an expected economic recovery in +top oil importer China this year.U.S. crude recently rose 0.34% to $81.92 per barrel +and Brent was at $88.43, up 0.91% on the day.(Reporting by Herbert Lash, additional reporting by Elizabeth +Howcroft in London, Editing by Christina Fincher, Chizu Nomiyama +and Sharon Singleton) \ No newline at end of file diff --git a/news/GOOG/2023.01.23/Tech job cuts: Spotify to shed 6% of workforce.txt b/news/GOOG/2023.01.23/Tech job cuts: Spotify to shed 6% of workforce.txt new file mode 100644 index 0000000000000000000000000000000000000000..098de839ca4760fdfba040c33337ae0fac718993 --- /dev/null +++ b/news/GOOG/2023.01.23/Tech job cuts: Spotify to shed 6% of workforce.txt @@ -0,0 +1 @@ +The music streaming service said Monday (January 23) that it would shed 6% of its workforce. That equates to around 600 jobs. The company said moves to rein in costs had proved insufficient. Last year saw operating expenditures grow at twice the pace of revenues as it poured money into podcasting. At the same time, Spotify saw businesses pull back on advertizing as factors including soaring interest rates pressured global demand. U.S.-listed shares in the company rose about 3.5% in pre-market trade following Monday's news. Now the job cuts make Spotify firmly part of a global trend. Tech firms shed jobs last year as a demand boom sparked by the global health crisis faded away. Layoffs have since picked up steam over the past few weeks. Google-parent Alphabet says it plans to eliminate 12,000 posts. Another 10,000 are going at Microsoft. And Amazon is in the process of cutting 18,000 jobs. \ No newline at end of file diff --git a/news/GOOG/2023.01.23/U.S. Supreme Court seeks Biden administration view on Florida, Texas social media laws.txt b/news/GOOG/2023.01.23/U.S. Supreme Court seeks Biden administration view on Florida, Texas social media laws.txt new file mode 100644 index 0000000000000000000000000000000000000000..1e746b046ce807778f643d02480ec7c47c1934e2 --- /dev/null +++ b/news/GOOG/2023.01.23/U.S. Supreme Court seeks Biden administration view on Florida, Texas social media laws.txt @@ -0,0 +1 @@ +The justices are considering taking up two cases involving challenges to the state laws - both currently blocked - brought by technology industry groups NetChoice and the Computer & Communications Industry Association that count Twitter, Meta Platforms Inc's Facebook and Alphabet Inc's YouTube as members. Supporters of the laws have argued that social media platforms have silenced conservative voices while advocates for the judicious use of curbing content have argued for the need to stop misinformation and advocacy for extremist causes.Florida is seeking to revive its law after a lower court ruled largely against it, while the industry groups are appealing a separate lower court decision upholding the Texas law, which the Supreme Court had blocked at an earlier stage of the case.The cases would test the argument made by the industry groups that the U.S. Constitution's First Amendment guarantee of free speech protects the right of social media platforms to editorial discretion and prohibits the government from forcing them to publish and disseminate content against their will, or disclose internal content moderation processes. The companies have said that without editorial discretion their websites would be overrun with spam, bullying, extremism and hate speech. The Republican states passed their laws in 2021 in response to a view articulated by many U.S. conservatives and right-wing commentators that large technology companies - sometimes called Big Tech - regularly suppress their views. These people cite as an example Twitter's move to permanently suspend of Republican then-President Donald Trump from the platform in the aftermath of the Jan. 6, 2021, attack on the U.S. Capitol by a mob of his supporters, with the company citing "the risk of further incitement of violence."Florida's law requires platforms with at least 100 million users to "host some speech that they might otherwise prefer not to host" by disclosing censorship rules and applying them "in a consistent manner among its users." It also prohibits the banning of any political candidates. The Texas law forbids social media companies with at least 50 million monthly active users from acting to "censor" users based on "viewpoint." The New Orleans-based 5th U.S. Circuit Court of Appeals in 2022 upheld the Texas law, concluding that it "chills no speech whatsoever. To the extent it chills anything, it chills censorship."The Atlanta-based 11th U.S. Circuit Court of Appeals in 2022 rejected most of Florida's law but upheld the legality of the provisions requiring websites to make certain disclosures, including content moderation standards and rule changes. (Reporting by Andrew Chung; Editing by Will Dunham and Jonathan Oatis)By Andrew Chung \ No newline at end of file diff --git a/news/GOOG/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt b/news/GOOG/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt new file mode 100644 index 0000000000000000000000000000000000000000..e0450486bc3422bc88ca51d082472ea1496dc692 --- /dev/null +++ b/news/GOOG/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Activist investor Elliott Management takes stake in +Salesforce*Baker Hughes falls on missing Q4 profit estimates*Futures up: Dow 0.24%, S&P 0.16%, Nasdaq 0.20%Jan 23 (Reuters) - U.S. stock indexes were set to open +higher at the start of another big week for corporate earnings, +with Salesforce leading gains on Monday following news that +Elliott Management had acquired a stake.A slew of earnings in the coming weeks will also test the +recent bounce in certain technology and growth stocks that took +a large hit last year. The tech-focused Nasdaq index was +the only major Wall Street benchmark that ended the previous +week higher.Concerns of a possible recession amid a high interest rate +environment have hit growth-related sectors, driving major tech +companies such as Microsoft Corp, Amazon.com Inc +and Alphabet Inc to lay off thousands of +employees.Companies which make up more than half the S&P 500 index's +market value will report earnings in the next two weeks, +with Microsoft, the second-largest U.S. firm by market value, +posting results on Tuesday, Tesla Inc and IBM +on Wednesday and Intel on Thursday.Analysts now expect year-over-year fourth-quarter earnings +from S&P 500 companies to decline 2.9%, according to IBES +Refinitiv data, compared with a 1.6% decline at the beginning of +the year."It's going to be a situation where I'm expecting to hear +weakness, not strength from corporate America," said Adam +Sarhan, chief executive of 50 Park Investments in New York."It's much better to lower expectations and then beat weak +expectations then it is to raise your guidance or have strong +expectations and then miss."Investors also await January manufacturing and +fourth-quarter GDP data for a clearer picture of the impact the +Federal Reserve's aggressive rate hikes have had on the economy.Data recently has signaled cooling inflation but has also +highlighted a tight labor market that offers the central bank +room to stick with its aggressive policy tightening.Shares of cloud-based software firm Salesforce Inc +rose 4.7% in premarket trading to lead gains among Dow +components after activist investor Elliott Management Corp made +a multi-billion-dollar investment in the company, according to +people familiar with the matter.At 8:39 a.m. ET, Dow e-minis were up 79 points, or +0.24%, S&P 500 e-minis were up 6.25 points, or 0.16%, +and Nasdaq 100 e-minis were up 23.5 points, or 0.2%.Among other stocks, Baker Hughes Co slid 1.4% on +missing fourth-quarter profit estimates, hit by component +shortages and supply chain disruptions.Xylem Inc fell 8.3% on its acquisition of water +treatment solutions firm Evoqua Water Technologies Corp +in a $7.42 billion deal. Evoqua shares jumped 13.7%.Qualcomm Inc and Advanced Micro Devices Inc +climbed above 2% each, after brokerage Barclays upgraded the +chipmakers to "overweight" from "equal-weight".Western Digital Corp rose 4.0% on a report that the +memory chip maker could merge with Japan's Kioxia Holdings. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOG/2023.01.24/Alphabet to close Edmonton office of AI subsidiary DeepMind.txt b/news/GOOG/2023.01.24/Alphabet to close Edmonton office of AI subsidiary DeepMind.txt new file mode 100644 index 0000000000000000000000000000000000000000..9c8ef05e7d270f5db25d0fb4f14ce6e2c930329b --- /dev/null +++ b/news/GOOG/2023.01.24/Alphabet to close Edmonton office of AI subsidiary DeepMind.txt @@ -0,0 +1 @@ +EDMONTON — Alphabet Inc. says it will close the Edmonton office owned by its artificial intelligence subsidiary DeepMind.Spokesperson Lauren Skelly says DeepMind's Edmonton office was the only international site directly managed by the subsidiary, making it more resource-intensive than the other DeepMind spaces.The U.K.-headquartered subsidiary will consolidate its remaining operations, but maintain its Montreal and Toronto offices, which are located within Google-managed buildings.Skelly says researchers at the Edmonton office have been offered the chance to relocate to another DeepMind site.The Edmonton closure comes after Alphabet chief executive Sundar Pichai told staff last week that his company would be laying off 12,000 workers because it had hired for a different economic reality than the one that materialized.Shopify, Wealthsimple, Clearco and Hootsuite are also among the slew of tech companies which have made job cuts in recent months.This report by The Canadian Press was first published Jan. 24, 2023.© 2023 The Canadian Press. All rights reserved., source Canadian Press DataFile \ No newline at end of file diff --git a/news/GOOG/2023.01.24/Alphabet-owned AI firm DeepMind shutters office in Canada's Edmonton.txt b/news/GOOG/2023.01.24/Alphabet-owned AI firm DeepMind shutters office in Canada's Edmonton.txt new file mode 100644 index 0000000000000000000000000000000000000000..fc94466582c72d2aaafb311ea83b1c94a7129de8 --- /dev/null +++ b/news/GOOG/2023.01.24/Alphabet-owned AI firm DeepMind shutters office in Canada's Edmonton.txt @@ -0,0 +1 @@ +London-based DeepMind's Edmonton office is the only international site directly managed by the artificial intelligence firm, making it far more resource-intensive to operate, the spokesperson said. All other DeepMind sites are housed within Google-managed offices.Alphabet's layoffs follow thousands of layoffs at tech giants including Amazon.com Inc, Microsoft Corp and Meta Platforms Inc, which are cutting costs and downsizing after a pandemic-led hiring spree left them flabby in a weak economy. Researchers have been offered the option to relocate to another DeepMind office, such as DeepMind Montreal, based in Google's Montreal office, the spokesperson added.Google acquired DeepMind in 2014, putting the tech giant ahead in the AI race than most of its peers. But competition escalated after Microsoft-backed OpenAI's chatbot ChatGPT boosted investor interest in the promise of generative artificial intelligence."I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI," Alphabet Chief Executive Sundar Pichai said in the blog post on Jan. 20. (Reporting by Chavi Mehta in Bengaluru and Jeffrey Dastin in Palo Alto; Editing by Maju Samuel) \ No newline at end of file diff --git a/news/GOOG/2023.01.24/Big banks vs. PayPal and Apple Pay, Google cuts exe...txt b/news/GOOG/2023.01.24/Big banks vs. PayPal and Apple Pay, Google cuts exe...txt new file mode 100644 index 0000000000000000000000000000000000000000..bb14dd3131e84c02d5b30fe785b0c49deee8acaa --- /dev/null +++ b/news/GOOG/2023.01.24/Big banks vs. PayPal and Apple Pay, Google cuts exe...txt @@ -0,0 +1,9 @@ + +BASF, Gazprom, Associated British Foods, Dignity,, BP plc, Orsted, Grenergy Renovables, Inditex, Logitech, Juventus, Ford, Credit Suisse, PayPal, Apple, Wells Fargo, Bank of America, JPMorgan, Visa, Mastercard, Newell Brands, Rivian, Alphabet, Stanley Black & Decker, Hershey, Mondelez, Dai Nippon Printing and Honda feature in this press review! + + + + +  + +  diff --git a/news/GOOG/2023.01.24/DOJ sues Google over abuse of digital ad dominance.txt b/news/GOOG/2023.01.24/DOJ sues Google over abuse of digital ad dominance.txt new file mode 100644 index 0000000000000000000000000000000000000000..7c715944a17005f3978b4a44aba0dc253801c8bf --- /dev/null +++ b/news/GOOG/2023.01.24/DOJ sues Google over abuse of digital ad dominance.txt @@ -0,0 +1 @@ +U.S. Attorney General Merrick Garland - announcing the lawsuit in Washington - said Google unfairly decimated the competition."For 15 years, Google has pursued a course of anticompetitive conduct that has allowed it to halt the rise of rival technologies, manipulate auction mechanics to insulate itself from competition, and force advertisers and publishers to use its tools. In so doing, Google has engaged in exclusionary conduct as severely weakened, if not destroy competition in the ad tech industry."Google responded by saying the government was "doubling down on a flawed argument" that would make it harder for small businesses and publishers to grow.Eight states joined the DOJ in this lawsuit, including Google's home state, California.This lawsuit is the second federal antitrust complaint filed against Google. The DOJ's first, filed in 2020, focused on the company's monopoly in search and is scheduled to go to trial in September. According to Insider Intelligence, Google remains the leader in digital ads by a long shot, though its share of U.S. digital ad revenue had fallen to 29% in 2022 from 37% in 2016. \ No newline at end of file diff --git a/news/GOOG/2023.01.24/Factbox-Biden administration continues Trump antitrust focus on tech giants.txt b/news/GOOG/2023.01.24/Factbox-Biden administration continues Trump antitrust focus on tech giants.txt new file mode 100644 index 0000000000000000000000000000000000000000..e28d244dea1d460456e46df8ab4b1215805ca2c7 --- /dev/null +++ b/news/GOOG/2023.01.24/Factbox-Biden administration continues Trump antitrust focus on tech giants.txt @@ -0,0 +1 @@ +Following are major U.S. government lawsuits and investigations regarding Big Tech.Google: The U.S. Justice Department sued Google on Tuesday, accusing the company of abusing its dominance of the digital advertising business and saying Google should be forced to sell its ad manager suite, in the government's latest attempt to slice away a portion of Big Tech's power. The U.S. Justice Department had previously sued Google in October 2020, accusing the $1 trillion company of illegally using its market muscle to hobble rivals in search. This case is scheduled to go to trial in September.Dozens of U.S. states and territories filed a broader version of the Justice Department lawsuit in December 2020. The state complaint accuses Google of abusing its market power to try to make its search engine as dominant inside cars, TVs and speakers as it is in phones. The same judge is hearing both the federal and state lawsuits in D.C. federal court. Also in 2020, Texas, backed by nine other states, filed a lawsuit against Google, accusing the internet search company of breaking antitrust law in how it runs its online advertising business. The case was moved to New York, to be heard with other, similar cases.The Justice Department is also probing Google to determine if bundling its Maps product with other Google software illegally stifles competition. Facebook:The Federal Trade Commission and a big group of states filed separate lawsuits to ask a court to force Meta Platforms to sell WhatsApp and Instagram, saying the social media company used a "buy or bury" strategy to snap up rivals and keep smaller competitors at bay. The judge threw out the state lawsuit on the grounds that they had waited too long to bring their case. The states have appealed while the FTC complaint goes forward. Apple: The Justice Department has a probe into Apple underway, which was revealed in June 2019. It appears to focus on Apple's app store. Some app developers have accused Apple of introducing new products very similar to existing apps created by other developers and sold in the Apple Store, and then trying to banish the older apps from the store because they compete with Apple's new product. Apple says it seeks to have only the highest-quality products in the app store.Amazon: In its investigation of Amazon, the FTC is believed to be probing the inherent conflict of interest of Amazon competing with small sellers on its marketplace platform, including allegations that it used information from sellers on its platform to decide what products it would introduce. (Reporting by Diane Bartz; Editing by Lisa Shumaker) \ No newline at end of file diff --git a/news/GOOG/2023.01.24/Factbox-The sun never sets on Google's antitrust woes.txt b/news/GOOG/2023.01.24/Factbox-The sun never sets on Google's antitrust woes.txt new file mode 100644 index 0000000000000000000000000000000000000000..32f078fcca14425eefe3530fdd64878ca6806116 --- /dev/null +++ b/news/GOOG/2023.01.24/Factbox-The sun never sets on Google's antitrust woes.txt @@ -0,0 +1 @@ +The following are some of the antitrust battles Google is fighting globally:INDIA: Google lost a big fight in India in mid-January when the Supreme Court refused to block an order from the Competition Commission of India which required Google to remove restrictions from its popular Android smartphone operating system. The order, for example, requires Google to allow users to delete apps like its YouTube subsidiary from Android phones.UNITED STATES: The U.S. Justice Department sued Alphabet's Google for the second time on Tuesday, accusing the company of abusing its dominance of the digital advertising business and saying it should be forced to sell its ad manager suite. Eight states joined the lawsuit.The U.S. Justice Department first sued Google in 2020 for violating antitrust law to maintain dominance in search and to extend its dominance into other areas. Trial is set for September. A large set of states filed a related lawsuit.Also in 2020, Texas, backed by nine other states, filed a lawsuit against Google, accusing the internet search company of breaking antitrust law in how it runs its online advertising business. The case was moved to New York, to be heard with other, similar cases.SOUTH KOREA: The antitrust regulator fined Alphabet's Google 207 billion won ($176.64 million) in September 2021, saying it abused its dominant market position to restrict competition in the mobile operating system market.EUROPE: Over the last decade, Google has incurred 8.25 billion euros ($8.24 billion) in EU antitrust fines following three investigations into its business practices. These include allegations Google imposed unlawful restrictions on manufacturers of Android mobile devices and mobile network operators to consolidate the dominant position of its search engine. BRITAIN: The Competition and Markets Authority has also moved to rein in Google and Facebook. It created a Digital Markets Unit, which could be given powers to suspend, block and reverse decisions made by technology firms and to impose financial penalties for non-compliance. (Compiled by Diane Bartz; editing by Grant McCool) \ No newline at end of file diff --git a/news/GOOG/2023.01.24/Futures edge lower as earnings roll in, chipmakers retreat.txt b/news/GOOG/2023.01.24/Futures edge lower as earnings roll in, chipmakers retreat.txt new file mode 100644 index 0000000000000000000000000000000000000000..2f5baa8272610391273993d5c7a8e2ec335315ea --- /dev/null +++ b/news/GOOG/2023.01.24/Futures edge lower as earnings roll in, chipmakers retreat.txt @@ -0,0 +1 @@ +In a week packed with high-profile earnings reports and key economic data, investors will now look to assess the impact of the Federal Reserve's rate-hiking spree. The central bank is widely expected to raise rates by another quarter of a percentage point next week.Industrial conglomerate 3M Co fell 2.5%, leading the decliners among Dow components in premarket trading, after reporting a fall in quarterly profit.General Electric Co slipped 2.6% as it forecast a lower-than-expected 2023 adjusted profit.Johnson & Johnson, however, rose 2.2% after the healthcare giant beat estimates for fourth-quarter profit.Wall Street's main indexes started the earnings-heavy week on solid ground amid renewed appetite for growth stocks following a battering last year.After logging its biggest gain in over two months on Monday, Advanced Micro Devices Inc slipped 2.5% as brokerage Bernstein downgraded the chipmaker to "market-perform" from "outperform" citing a bleak outlook for the PC market.Other chipmakers including Nvidia Corp, Intel Corp and Broadcom Inc fell between 0.4% and 1%.Analysts now see fourth-quarter earnings for S&P 500 companies dropping 3% year-on-year, nearly twice as much as the 1.6% annual drop seen at the beginning of the year, per Refinitiv data.At 6:58 a.m. ET, Dow e-minis were down 65 points, or 0.19%, S&P 500 e-minis were down 9 points, or 0.22%, and Nasdaq 100 e-minis were down 49.5 points, or 0.41%.Other major growth stocks also dipped, with Alphabet Inc falling 1.1%. The U.S. Justice Department is poised to sue Google as soon as Tuesday, according to a report, regarding its dominance over the digital advertising market.Microsoft Corp is scheduled to report quarterly earnings after the bell. Shares of the company inched 0.1% lower.Zions Bancorporation slid 2.7% after Chief Executive Harris Simmons warned that the lender continued to build loan loss reserves on recession worries.Data from S&P Global later in the day will likely show flash manufacturing PMI fell to 46.0 in January from a final reading of 46.2 in December, while flash services PMI rose to 45 this month from 44.7 in December. (Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/GOOG/2023.01.24/India tests domestic operating system days after Google's antitrust setback.txt b/news/GOOG/2023.01.24/India tests domestic operating system days after Google's antitrust setback.txt new file mode 100644 index 0000000000000000000000000000000000000000..b9385b54c94b800ac9f42d10231c4b681c5d2d6e --- /dev/null +++ b/news/GOOG/2023.01.24/India tests domestic operating system days after Google's antitrust setback.txt @@ -0,0 +1 @@ +The government endorsement of the operating system comes after Google lost its fight in India's Supreme Court to block an antitrust order that will force the company to change how it markets its Android operating system. "We have a long way to go, but if this happens, monopoly by anybody will go away," Dharmendra Pradhan, India's skill development and entrepreneurship minister, said at the BharOS testing event in New Delhi, without naming any companies.Prime Minister Narendra Modi has been pushing for self-reliance to boost and promote everything from local manufacturing to domestic startups.The operating system has been developed by a startup incubated at an Indian Institute of Technology in southern India.India is the world's second biggest smartphone market where about 97% of 600 million smartphones run on Android, according to Counterpoint Research estimates. The Competition Commission of India has said Google exploited its dominant position in Android, an allegation the company denies, and sought a series of changes in the way it operates.Google has been asked to remove restrictions imposed on device makers, including those related to pre-installation of apps. It has, however, warned the directives could stall growth of the Android ecosystem in India and force the company to alter arrangements with more than 1,100 device manufacturers.Google did not immediately respond to a request for comment. (Reporting by Tanvi Mehta; Editing by Aditya Kalra and Shinjini Ganguli) \ No newline at end of file diff --git a/news/GOOG/2023.01.24/Microsoft attracting users to its code-writing, generative AI software.txt b/news/GOOG/2023.01.24/Microsoft attracting users to its code-writing, generative AI software.txt new file mode 100644 index 0000000000000000000000000000000000000000..54c92b29a630f509e6878392ac297f3639489c8e --- /dev/null +++ b/news/GOOG/2023.01.24/Microsoft attracting users to its code-writing, generative AI software.txt @@ -0,0 +1,32 @@ +Jan 24 (Reuters) - Microsoft Corp on Tuesday +aimed to assure investors that its big bet on artificial +intelligence (AI) is paying off, even as economic turbulence is +making Microsoft customers scrutinize their cloud spend.Early evidence is in usage of a little-discussed tool that +can write computer code for programmers, called GitHub Copilot.Opened up to the public in June of last year, the tool drew +400,000 subscribers within a month. On Tuesday, Microsoft Chief +Executive Satya Nadella said that more than 1 million people had +used Copilot to date.Microsoft shares dipped slightly in after-hours trade on +Tuesday following its forecast that cloud-computing revenue in +the current quarter was just below Wall Street expectations.Yet the growth in Copilot is a preliminary indication that +people will pay for so-called generative AI, tech that can +produce prose, imagery or in this case computer code on command +after having learned the skill from vast data.Copilot suggests to programmers what to type next, writing +up to 35% or 40% of a file's code when enabled, the CEO of +GitHub, owned by Microsoft, said last year. It costs $100 +annually for individual subscribers, or can be billed through a +corporate account, according to a GitHub blog post.Microsoft this week said it would embark on a +multibillion-dollar investment including supercomputer +development and cloud support to power a startup it first backed +in 2019, known as OpenAI, which is at the forefront of +generative AI.Copilot itself relies on OpenAI's tech, as does a chatbot +sensation that Open AI released last year known as ChatGPT. +Microsoft has said it will make ChatGPT, which can draft code as +well as essays or poetry, available via its cloud.ChatGPT has grabbed enough attention to prompt industry +observers to say it could answer any user query if updated, +potentially letting Microsoft's Bing search engine take on +Alphabet Inc's Google, the industry leader. Google is +working on its own major AI launch, Reuters previously reported.Nadella said the Azure OpenAI Service, which offers the +startup's tech through Microsoft's cloud, has already attracted +200 customers, including KPMG and Al Jazeera. +(Reporting by Jeffrey Dastin in Palo Alto, Calif.; Editing by +Leslie Adler) \ No newline at end of file diff --git a/news/GOOG/2023.01.24/S&P 500 ends about flat after mixed earnings, opening glitch.txt b/news/GOOG/2023.01.24/S&P 500 ends about flat after mixed earnings, opening glitch.txt new file mode 100644 index 0000000000000000000000000000000000000000..10a60a215591e72de2687a3e53c866fbecf1f4c4 --- /dev/null +++ b/news/GOOG/2023.01.24/S&P 500 ends about flat after mixed earnings, opening glitch.txt @@ -0,0 +1 @@ +By the end of the session, the Dow closed up nearly a third of a percent. The S&P 500 fell but ended basically flat, while the Nasdaq lost about a quarter of a percent.Aside from the glitch, which caused initial price confusion and prompted an investigation by the U.S. Securities and Exchange Commission, earnings were in focus.A raft of mixed earnings took some wind out of the sails of the recent stock market rally. Dryden Pence, chief investment officer at Pence Capital, said investors were waiting to see how more of the earnings season plays out."Where we are is in this strange moment that everybody's holding their breath a little bit. We were trying to get, we're at the beginning of earnings season. We're seeing some of the earnings begin to come in. The beats are not as high as the beats were, maybe, going to be. So we're in this tug of war between earnings doing alright but not great, and we've seen the market move up a little bit because of, really, multiple expansion. You know, in the last two earnings seasons, we had multiples around low 16x. Now, we're at multiples around 18x. So sentiment is moving the market forward. We've seen this rise at the first part of the year. But, really, I think everybody is really cautiously waiting to see how earnings come through."After the closing bell, Microsoft reported a better-than-expected quarterly profit as strong performance at its cloud services business helped offset a slump in the PC market, sending shares 4% higher in extended trading.Shares of 3M ended more than 6% lower after the maker of Post-it notes reported downbeat fourth-quarter results and forecast a gloomy first quarter, as the industrial conglomerate struggles with slowing demand for consumer and electronic items.Shares of General Electric ended more than a percent higher after reporting earnings that exceeded expectations on robust demand for jet engines and power equipment, but provided underwhelming forward guidance due to inflationary headwinds.And shares of Alphabet ended about 2% lower after the Justice Department filed a lawsuit against Google accusing the company of abusing its dominance of the digital advertising business. \ No newline at end of file diff --git a/news/GOOG/2023.01.24/S&P 500 ends lower after mixed earnings, opening glitch.txt b/news/GOOG/2023.01.24/S&P 500 ends lower after mixed earnings, opening glitch.txt new file mode 100644 index 0000000000000000000000000000000000000000..e3e130be4ae84527d448bc477841b79cbccb886d --- /dev/null +++ b/news/GOOG/2023.01.24/S&P 500 ends lower after mixed earnings, opening glitch.txt @@ -0,0 +1,48 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*SEC investigating NYSE opening bell glitch*3M slides on downbeat Q1 forecast*J&J falls on sales warning; GE down on weak profit view*Microsoft quarterly results expected shortlyNEW YORK, Jan 24 (Reuters) -The S&P 500 ended slightly lower Tuesday at the close of a +rocky session marked by a raft of mixed earnings and a technical +malfunction at the opening bell.A spate of NYSE-listed stocks were halted at the top of the +session due to an apparent technical malfunction, which caused +initial price confusion and prompted an investigation by the +U.S. Securities and Exchange Commission (SEC).More than 80 stocks were affected by the glitch, which +caused wide swings in opening prices in dozens of stocks, +including Walmart Inc and Nike Inc."Everybody’s having computer problems, first the airlines +and now it’s the NYSE," said Tim Ghriskey, senior portfolio +strategist Ingalls & Snyder in New York. "Seems like it was +quickly corrected.""Some of the prints were clearly bad," Ghriskey added. "It +was a surprise. Unexpected."All three indexes sputtered near the starting line for much +of the session, showing little apparent momentum in either +direction.Fourth quarter earnings season is in full swing, with 72 of +the companies in the S&P 500 having reported. Of those, 65% have +beaten consensus, just a hair below the 66% long-term average, +according to Refinitiv.On aggregate, analysts now expect S&P 500 earnings 2.9% +below the year-ago quarter, down from the 1.6% year-on-year +decline seen on Jan. 1, per Refinitiv."The Fed will take apart earnings reports and look at how +the economy is doing, given the rate hikes and other issues out +there," Ghriskey said. "We’re getting closer to that point where +the Fed sees enough progress in the inflation fight to stop the +(interest) rate hikes and that’s why the markets have reacted +positively lately."Economic data showed shallower-than-expected contraction in +the manufacturing and services sector in the first weeks of the +year, suggesting that the Federal Reserve's restrictive interest +rates are dampening demand.According to preliminary data, the S&P 500 lost 2.94 +points, or 0.07%, to end at 4,016.87 points, while the Nasdaq +Composite lost 29.95 points, or 0.26%, to 11,334.47. The +Dow Jones Industrial Average rose 102.53 points, or +0.30%, to 33,732.09.Intercontinental Exchange Inc, owner of the New York +Stock Exchange, dropped as SEC investigators searched for the +cause of Tuesday's opening bell confusion.Alphabet Inc shares dipped after the Justice +Department filed a lawsuit against Google for abusing its +dominance of the digital advertising business.Johnson & Johnson's profit guidance came in above +analyst expectations.Industrial conglomerates 3M Co and General Electric +Co both provided underwhelming forward guidance due to +inflationary headwinds.3M's shares lost ground, while General Electric posted +modest gains.Aerospace/defense companies Lockheed Martin Corp and +Raytheon Technologies Corp were a study in contrasts, +with the former issuing a disappointing profit forecast and the +latter beating estimates on solid travel demand.Shares of Lockheed Martin and Raytheon advanced on the day.Railroad operator Union Pacific Corp missed profit +estimates as labor shortages and severe weather delayed +shipments. +(Reporting by Stephen Culp; Additional reporting by Shreyashi +Sanyal and Johann M Cherian in Bengaluru; Editing by Aurora +Ellis) \ No newline at end of file diff --git a/news/GOOG/2023.01.24/S&P 500 ends slightly down after mixed earnings, opening glitch.txt b/news/GOOG/2023.01.24/S&P 500 ends slightly down after mixed earnings, opening glitch.txt new file mode 100644 index 0000000000000000000000000000000000000000..634d8ba256dc2f731f15eb987ce45d01edd9dbc5 --- /dev/null +++ b/news/GOOG/2023.01.24/S&P 500 ends slightly down after mixed earnings, opening glitch.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*SEC investigating NYSE opening bell glitch*3M slides on downbeat Q1 forecast*J&J falls on sales warning; GE down on weak profit view*Microsoft gains in extended trading after posting results*Indexes: Dow up 0.31%, S&P 500 off 0.07%, Nasdaq down +0.27%NEW YORK, Jan 24 (Reuters) -The S&P 500 ended nominally lower on Tuesday at the close of +a rocky session marked by a raft of mixed earnings and a +technical malfunction at the opening bell.A spate of NYSE-listed stocks were halted at the top of the +session due to an apparent technical malfunction, which caused +initial price confusion and prompted an investigation by the +U.S. Securities and Exchange Commission (SEC).More than 80 stocks were affected by the glitch, which +caused wide swings in opening prices in dozens of stocks, +including Walmart Inc and Nike Inc."Everybody’s having computer problems, first the airlines +and now it’s the NYSE," said Tim Ghriskey, senior portfolio +strategist Ingalls & Snyder in New York. "Seems like it was +quickly corrected.""Some of the prints were clearly bad," Ghriskey added. "It +was a surprise. Unexpected."The Nasdaq joined the S&P 500 in negative territory, +while the Dow ended modestly higher.Fourth quarter earnings season is in full swing, with 72 of +the companies in the S&P 500 having reported. Of those, 65% have +beaten consensus, just a hair below the 66% long-term average, +according to Refinitiv.On aggregate, analysts now expect S&P 500 earnings 2.9% +below the year-ago quarter, down from the 1.6% year-on-year +decline seen on Jan. 1, per Refinitiv."The Fed will take apart earnings reports and look at how +the economy is doing, given the rate hikes and other issues out +there," Ghriskey said. "We’re getting closer to that point where +the Fed sees enough progress in the inflation fight to stop the +(interest) rate hikes and that’s why the markets have reacted +positively lately."Economic data showed shallower-than-expected contraction in +the manufacturing and services sector in the first weeks of the +year, suggesting that the Federal Reserve's restrictive interest +rates are dampening demand.The Dow Jones Industrial Average rose 104.4 points, +or 0.31%, to 33,733.96, the S&P 500 lost 2.86 points, or +0.07%, to 4,016.95 and the Nasdaq Composite dropped +30.14 points, or 0.27%, to 11,334.27.Among the 11 major sectors of the S&P 500, industrials +led the percentage gainers, while communication +services suffered the biggest loss.Intercontinental Exchange Inc, owner of the New York +Stock Exchange, dropped 2.2% as SEC investigators searched for +the cause of Tuesday's opening bell confusion.Alphabet Inc shares dipped 2.1% after the Justice +Department filed a lawsuit against Google for abusing its +dominance of the digital advertising business.Industrial conglomerates 3M Co and General Electric +Co both provided underwhelming forward guidance due to +inflationary headwinds.3M's shares lost 6.2% while General Electric's rose 1.2%.Aerospace/defense companies Lockheed Martin Corp and +Raytheon Technologies Corp were a study in contrasts, +with the former issuing a disappointing profit forecast and the +latter beating estimates on solid travel demand.Lockheed Martin and Raytheon were up 1.8% and 3.3%, +respectively.Railroad operator Union Pacific Corp missed profit +estimates as labor shortages and severe weather delayed +shipments. Its shares shed 3.3%.Microsoft gained more than 4% in extended trading +after narrowly missing quarterly revenue estimates.Advancing issues outnumbered declining ones on the NYSE by a +1.01-to-1 ratio; on Nasdaq, a 1.17-to-1 ratio favored decliners.The S&P 500 posted 26 new 52-week highs and 10 new lows; the +Nasdaq Composite recorded 77 new highs and 22 new lows.Volume on U.S. exchanges was 10.58 billion shares, compared +with the 10.61 billion average over the last 20 trading days. +(Reporting by Stephen Culp; Additional reporting by Shreyashi +Sanyal and Johann M Cherian in Bengaluru; Editing by Aurora +Ellis) \ No newline at end of file diff --git a/news/GOOG/2023.01.24/U.S. Attorney General Garland says Google has used anticompetitive tactics for 15 years.txt b/news/GOOG/2023.01.24/U.S. Attorney General Garland says Google has used anticompetitive tactics for 15 years.txt new file mode 100644 index 0000000000000000000000000000000000000000..87ec49a22beae1edd90ea3ae0c91ac2ae0f2aef5 --- /dev/null +++ b/news/GOOG/2023.01.24/U.S. Attorney General Garland says Google has used anticompetitive tactics for 15 years.txt @@ -0,0 +1,8 @@ +WASHINGTON, Jan 24 (Reuters) - U.S. Attorney General +Merrick Garland said on Tuesday, after the Justice Department +filed an antitrust lawsuit against Alphabet's Google, +that the Big Tech company has sought to defeat its rivals in the +online advertising business using anticompetitive tactics for 15 +years.Garland added that as a result of Google's practices the +United States has suffered as an advertiser, overpaying for ads. +(Reporting by Chris Sanders and Diane Bartz) \ No newline at end of file diff --git a/news/GOOG/2023.01.24/U.S. set to sue Google, to be joined by about eight states -- sources.txt b/news/GOOG/2023.01.24/U.S. set to sue Google, to be joined by about eight states -- sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..a6161a7b2a71695a9d944adcdedf9f4d6b94af75 --- /dev/null +++ b/news/GOOG/2023.01.24/U.S. set to sue Google, to be joined by about eight states -- sources.txt @@ -0,0 +1 @@ +WASHINGTON (Reuters) - The U.S. Justice Department will be joined by about eight states in an antitrust lawsuit against Alphabet's Google, which is expected to be filed this week, according to two sources familiar with the matter.  The lawsuit is expected to allege the Big Tech company broke antitrust rules with the way it runs its digital advertising business.   \ No newline at end of file diff --git a/news/GOOG/2023.01.24/U.S. targets Google's online ad business monopoly in latest Big Tech lawsuit.txt b/news/GOOG/2023.01.24/U.S. targets Google's online ad business monopoly in latest Big Tech lawsuit.txt new file mode 100644 index 0000000000000000000000000000000000000000..a3cab28ebd99a518b7ed0f0a7db1bf5a3f4346ad --- /dev/null +++ b/news/GOOG/2023.01.24/U.S. targets Google's online ad business monopoly in latest Big Tech lawsuit.txt @@ -0,0 +1,74 @@ +WASHINGTON, Jan 24 (Reuters) - The U.S. Justice +Department accused Alphabet Inc's Google on Tuesday of +abusing its dominance in digital advertising, threatening to +dismantle a key business at the heart of one of Silicon Valley's +most successful internet companies.The government said Google should be forced to sell its ad +manager suite, tackling a business that generated about 12 +percent of Google's revenues in 2021, but also plays a vital +role in the search engine and cloud company's overall sales."Google has used anticompetitive, exclusionary, and unlawful +means to eliminate or severely diminish any threat to its +dominance over digital advertising technologies," the antitrust +complaint said.Google, whose advertising business is responsible for about +80% of its revenue, said the government was "doubling down on a +flawed argument that would slow innovation, raise advertising +fees, and make it harder for thousands of small businesses and +publishers to grow."The federal government has said its Big Tech investigations +and lawsuits are aimed at leveling the playing field for smaller +rivals to a group of powerful companies that includes Amazon.com +, Facebook owner Meta Platforms and Apple Inc +."By suing Google for monopolizing advertising technology, +the DOJ today aims at the heart of the internet giant’s power," +said Charlotte Slaiman, competition policy director at Public +Knowledge. "The complaint lays out the many anticompetitive +strategies from Google that have held our internet ecosystem +back."Tuesday's lawsuit by the administration of President Joe +Biden, a Democrat, follows a 2020 antitrust lawsuit brought +against Google during the term of Donald Trump, a Republican.The 2020 lawsuit alleged violations of antitrust law in how +the company acquires or maintains its dominance with its +monopoly in online search and is scheduled to go to trial in +September.EIGHT STATES IN LAWSUITEight states joined Tuesday's lawsuit, including Google's +home state of California.California State Attorney General Rob Bonta said that +Google's practices have "stifled creativity in a space where +innovation is crucial."Colorado Attorney General Phil Weiser said that Google's +dominance had led to higher fees for advertisers and less money +for publishers with ad space to offer. "We are taking action by +filing this lawsuit to unwind Google’s monopoly and restore +competition to the digital advertising business," he said in a +statement.Google shares were down 1.9 percent on Tuesday.In addition to its well-known search, which is free, Google +makes revenue through its interlocking ad tech businesses. The +government asked for the divestiture of the Google Ad Manager +suite, including Google's ad exchange, AdX.Google Ad Manager is a suite of tools including one that +allows websites to offer advertising space for sale and an +exchange that serves a marketplace that automatically matches +advertisers with those publishers.Advertisers and website publishers have complained that +Google has not been transparent about where ad dollars go, +specifically how much goes to publishers and how much to Google.The lawsuit raises concerns about certain products in the ad +tech stack, where publishers and advertisers use Google's tools +to buy and sell ad space on other websites. That business was +about $31.7 billion in 2021 or 12.3 percent of Google’s total +revenue. About 70% of that revenue goes to publishers.An ad tech divestiture "may not be a game changer but it +could be sneaky important to Google's ad targeting capability," +said Paul Gallant with the Cowen Washington Research Group."It connects to all of Google's other businesses and +ties them together. I think Google might be more concerned about +losing ad tech down the road than people might think," Gallant +said.The company made a series of purchases, including +DoubleClick in 2008 and AdMob in 2009, to help make it a +dominant player in online advertising.'PROJECT POIROT'While Google remains the market leader by a long shot, +its share of the U.S. digital ad revenue has been eroding, +falling to 28.8% last year from 36.7% in 2016, according to +Insider Intelligence.The Justice Department asked for a jury to decide the case, +which was filed in the U.S. District Court for the Eastern +District of Virginia.The lawsuit lays out a number of Google's attempts to +dominate the advertising market.The complaint discussed header bidding, which was a way that +companies could bypass Google to bid on ad space on websites.It lays out a series of projects including one dubbed +"Project Poirot" named after Agatha Christie’s master detective, +Hercule Poirot. The project "was designed to identify and +respond effectively to ad exchanges that had adopted header +bidding technology."The 149-page complaint said Google doubled down after +Project Poirot's initial success in manipulating its +advertisers' spending to reduce competition from rival ad +exchanges. Rivals AppNexus/Xandr lost 31% of DV360 advertiser +spending, Rubicon would lose 22%, OpenX would lose 42%, and +Pubmatic would lose 26%, the complaint said.(Reporting by Diane Bartz and David Shepardson; additional +reporting by Sheila Dang; editing by Chris Sanders and Grant +McCool) \ No newline at end of file diff --git "a/news/GOOG/2023.01.24/U.s. attorney general garland says that because of google's prac\342\200\246.txt" "b/news/GOOG/2023.01.24/U.s. attorney general garland says that because of google's prac\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..8cfdff87895931310eaa02c9a85aa1882e919dee --- /dev/null +++ "b/news/GOOG/2023.01.24/U.s. attorney general garland says that because of google's prac\342\200\246.txt" @@ -0,0 +1 @@ +U.S. ATTORNEY GENERAL GARLAND SAYS THAT BECAUSE OF GOOGLE'S PRACTICES THE U.S. HAS SUFFERED AS AN ADVERTISER, OVERPAYING FOR ADS \ No newline at end of file diff --git "a/news/GOOG/2023.01.24/U.s. attorney general merrick garland says that google has sough\342\200\246.txt" "b/news/GOOG/2023.01.24/U.s. attorney general merrick garland says that google has sough\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..b9b4112487dde03a3d826c121640c03a1c860ca5 --- /dev/null +++ "b/news/GOOG/2023.01.24/U.s. attorney general merrick garland says that google has sough\342\200\246.txt" @@ -0,0 +1 @@ +U.S. ATTORNEY GENERAL MERRICK GARLAND SAYS THAT GOOGLE HAS SOUGHT TO FIGHT RIVALS USING ANTICOMPETITIVE TACTICS FOR 15 YEARS \ No newline at end of file diff --git "a/news/GOOG/2023.01.24/U.s. doj, eight states say google \"has corrupted legitimate comp\342\200\246.txt" "b/news/GOOG/2023.01.24/U.s. doj, eight states say google \"has corrupted legitimate comp\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..2bd5245166fa0fb92abfbb024475d73de0147f03 --- /dev/null +++ "b/news/GOOG/2023.01.24/U.s. doj, eight states say google \"has corrupted legitimate comp\342\200\246.txt" @@ -0,0 +1 @@ +U.S. DOJ, EIGHT STATES SAY GOOGLE "HAS CORRUPTED LEGITIMATE COMPETITION IN THE AD TECH INDUSTRY" -- LAWSUIT \ No newline at end of file diff --git "a/news/GOOG/2023.01.24/U.s. justice department seeks divestiture of google ad manager s\342\200\246.txt" "b/news/GOOG/2023.01.24/U.s. justice department seeks divestiture of google ad manager s\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..ed8c5114038c1022fbd38b2ca5b5900c3804c244 --- /dev/null +++ "b/news/GOOG/2023.01.24/U.s. justice department seeks divestiture of google ad manager s\342\200\246.txt" @@ -0,0 +1 @@ +U.S. JUSTICE DEPARTMENT SEEKS DIVESTITURE OF GOOGLE AD MANAGER SUITE, INCLUDING GOOGLE’S AD EXCHANGE ADX -- LAWSUIT \ No newline at end of file diff --git "a/news/GOOG/2023.01.24/U.s. justice dept's antitrust lawsuit against google expected to\342\200\246.txt" "b/news/GOOG/2023.01.24/U.s. justice dept's antitrust lawsuit against google expected to\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c3042dc2ae2eb86a93eb87d2b386df1bfcef311a --- /dev/null +++ "b/news/GOOG/2023.01.24/U.s. justice dept's antitrust lawsuit against google expected to\342\200\246.txt" @@ -0,0 +1 @@ +U.S. JUSTICE DEPT'S ANTITRUST LAWSUIT AGAINST GOOGLE EXPECTED TO INCLUDE ABOUT EIGHT US STATES - SOURCES \ No newline at end of file diff --git "a/news/GOOG/2023.01.24/Us doj joined in google lawsuit by virginia, california, colorad\342\200\246.txt" "b/news/GOOG/2023.01.24/Us doj joined in google lawsuit by virginia, california, colorad\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..b5420b404dd9715e8be46b5ec18fdd996f0fa40c --- /dev/null +++ "b/news/GOOG/2023.01.24/Us doj joined in google lawsuit by virginia, california, colorad\342\200\246.txt" @@ -0,0 +1 @@ +US DOJ JOINED IN GOOGLE LAWSUIT BY VIRGINIA, CALIFORNIA, COLORADO, CONNECTICUT, NEW JERSEY, NEW YORK, TENNESSEE AND RHODE ISLAND -- COURT FILING \ No newline at end of file diff --git "a/news/GOOG/2023.01.24/Us expected to sue google over alleged abuse of domination of on\342\200\246.txt" "b/news/GOOG/2023.01.24/Us expected to sue google over alleged abuse of domination of on\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..6a2730c649dd265115ab82063174056f7619d4ed --- /dev/null +++ "b/news/GOOG/2023.01.24/Us expected to sue google over alleged abuse of domination of on\342\200\246.txt" @@ -0,0 +1 @@ +US EXPECTED TO SUE GOOGLE OVER ALLEGED ABUSE OF DOMINATION OF ONLINE ADVERTISING MARKET - SOURCES \ No newline at end of file diff --git "a/news/GOOG/2023.01.24/Usdoj, eight states file antitrust lawsuit against google -- cou\342\200\246.txt" "b/news/GOOG/2023.01.24/Usdoj, eight states file antitrust lawsuit against google -- cou\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..f16e1e3c84e921e8ab8d7ddd636c0f217d7c2ca6 --- /dev/null +++ "b/news/GOOG/2023.01.24/Usdoj, eight states file antitrust lawsuit against google -- cou\342\200\246.txt" @@ -0,0 +1 @@ +USDOJ, EIGHT STATES FILE ANTITRUST LAWSUIT AGAINST GOOGLE -- COURT FILING \ No newline at end of file diff --git a/news/GOOG/2023.01.24/Wall Street edges lower as earnings kick into high gear.txt b/news/GOOG/2023.01.24/Wall Street edges lower as earnings kick into high gear.txt new file mode 100644 index 0000000000000000000000000000000000000000..0660929cb698c86f12e7e6bd460cd5ea38d818e7 --- /dev/null +++ b/news/GOOG/2023.01.24/Wall Street edges lower as earnings kick into high gear.txt @@ -0,0 +1,44 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*3M slides on downbeat Q1 forecast*J&J falls on sales warning; GE down on weak profit view*Microsoft to report quarterly earnings after market close*Indexes: S&P and Nasdaq down 0.1%, Dow flatJan 24 (Reuters) -Wall Street slipped on Tuesday after industry bellwethers +3M, Johnson & Johnson and GE warned of a challenging year ahead, +while a technical issue at the New York Stock Exchange briefly +halted trading in some stocks shortly after the opening bell.More than 80 NYSE-listed stocks were affected by theglitch, with shares of companies including Nike Inc and +Walmart Inc seeing big swings in opening prices.The problem sowed confusion among traders on an +earnings-heavy day, where the market reaction to the quarterly +results of some of the biggest companies was in focus.Industrial conglomerate 3M Co fell 5.7% as it +forecast a gloomy first quarter.Verizon Communications Inc dropped 0.4% after +forecasting annual profit below estimates, while Johnson & +Johnson fell 1.3% as it warned that a surge in China +COVID-19 cases could dent the first half sales in 2023.General Electric Co fell 0.2% on a disappointing +profit forecast for the year, despite topping quarterly earnings +estimates."The problem today is mainly earnings," said Fall Ainina, +research director at James Investments. "Now many are +forecasting a profit recession, which is back-to-back quarters +of negative earnings."Wall Street's main indexes started the week on a strong note +amid renewed appetite for growth stocks following a battering +last year.After logging its biggest gain in over two months on Monday, +Advanced Micro Devices Inc slipped 3.2% as Bernstein +downgraded it to "market-perform" from "outperform".The Philadelphia SE Semiconductor index dropped 0.7% +to slip from its one-month high.Big Tech earnings could also determine whether renewed +enthusiasm for growth stocks will be sustained."In the near-term, the answer seemingly lies with tech +earnings ... longer-term, if we do experience a Fed pivot this +year, then would anticipate a strong, positive buying impulse +for tech," JPMorgan analysts wrote in a client note.Microsoft Corp is scheduled to report quarterly +earnings after the bell.Analysts now see fourth-quarter earnings for S&P 500 +companies dropping 2.9% year-on-year, according to Refinitiv +data.The fourth-quarter earnings season is keenly watched as +companies are expected to feel the full impact of the Federal +Reserve's rate-hike campaign. The central bank is expected to +raise rates by another quarter of a percentage point next week.At 12:31 p.m. ET, the Dow Jones Industrial Average +was up 0.20 points, or 0.00%, at 33,629.76, the S&P 500 +was down 5.95 points, or 0.15%, at 4,013.86, and the Nasdaq +Composite was down 14.26 points, or 0.13%, at 11,350.15.Travelers Companiesadded 2.6% after the insurer reported +better-than-expected fourth-quarter revenue.Other major growth stocks also dipped, with Alphabet Inc +down 1.1%. The U.S. Justice Department will be joined +by about eight states in an antitrust lawsuit against Alphabet's +Google that is expected to be filed this week.Advancing issues outnumbered decliners by a 1.13-to-1 ratio +on the NYSE. Declining issues outnumbered advancers for a +1.08-to-1 ratio on the Nasdaq.The S&P index recorded 27 new 52-week highs and 10 new +lows, while the Nasdaq recorded 60 new highs and 18 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/GOOG/2023.01.24/Wall Street totters after mixed earnings, trade halt glitch.txt b/news/GOOG/2023.01.24/Wall Street totters after mixed earnings, trade halt glitch.txt new file mode 100644 index 0000000000000000000000000000000000000000..d4b676e9e9c1baa1fa80dc3688f0c24a40c08569 --- /dev/null +++ b/news/GOOG/2023.01.24/Wall Street totters after mixed earnings, trade halt glitch.txt @@ -0,0 +1,51 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*SEC investigating NYSE opening bell glitch*3M slides on downbeat Q1 forecast*J&J falls on sales warning; GE down on weak profit view*Microsoft to report quarterly earnings after market close*Indexes: Dow up 0.18%, S&P 500 off 0.13%, Nasdaq down +0.25%NEW YORK, Jan 24 (Reuters) - Wall Street was mixed on +Tuesday as a raft of mixed earnings took some wind out of the +sails of the recent rally.The session got off to an rocky start, as a spate of +NYSE-listed stocks were halted at the opening bell due to an +apparent technical glitch, which caused initial price confusion +and prompted an investigation by the U.S. Securities and +Exchange Commission (SEC).More than 80 stocks were affected by the glitch, which +caused wide swings in opening prices in stocks, including +Walmart Inc and Nike Inc."It looks like NYSE got on it real early," said Joseph +Sroka, chief investment officer at NovaPoint in Atlanta. "Now +they’re trying to determine what opening trade prices were.""Everyone involved in trade settlements is going to have a +long day today."All three indexes sputtered near the starting line, with +little apparent momentum in either direction.Fourth quarter earnings season is in full swing, with 72 of +the companies in the S&P 500 having reported. Of those, 65% have +beaten consensus, just a hair below the 66% long-term average, +according to Refinitiv.On aggregate, analysts now expect S&P 500 earnings 2.9% +below the year-ago quarter, down from the 1.6% year-on-year +decline seen on Jan. 1, per Refinitiv."Earnings don’t make a bull or bear case for the market yet, +but there's an anxiousness among investors to be long when the +Fed is done raising rates," Sroka added. "We’re hitting a ramp +in the earnings cycle, and by next week we'll have a lot more +information on the direction of the market."Economic data showed shallower-than-expected contraction in +the manufacturing and services sector in the first weeks of the +year, suggesting that the Federal Reserve's restrictive interest +rates are dampening demand.The Dow Jones Industrial Average rose 60.69 points, +or 0.18%, to 33,690.25, the S&P 500 lost 5.36 points, or +0.13%, to 4,014.45 and the Nasdaq Composite dropped +28.39 points, or 0.25%, to 11,336.03.Among the 11 major sectors of the S&P 500, industrials +led the percentage gainers, while healthcare +was down the most.Intercontinental Exchange Inc, owner of the New York +Stock Exchange, dropped 2.5% as SEC investigators searched for +the cause of Tuesday's opening bell confusion.Alphabet Inc shares dipped 1.8% after the Justice +Department filed a lawsuit against Google for abusing its +dominance of the digital advertising business.Johnson & Johnson's profit guidance came in above +analyst expectations. Even so, its stock softened 0.3%.Industrial conglomerates 3M Co and General Electric +Co both provided underwhelming forward guidance due to +inflationary headwinds.3M's shares were off 5.1% while General Electric's were +modestly lower.Aerospace/defense companies Lockheed Martin Corp and +Raytheon Technologies Corp were a study in contrasts, +with the former issuing a disappointing profit forecast and the +latter beating estimates on solid travel demand.Lockheed Martin and Raytheon were up 1.5% and 2.5%, +respectively.Railroad operator Union Pacific Corp missed profit +estimates as labor shortages and severe weather delayed +shipments. Its shares shed 2.7%.Microsoft Corp is due to report after the bell.Advancing issues outnumbered declining ones on the NYSE by a +1.16-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored decliners.The S&P 500 posted 27 new 52-week highs and 10 new lows; the +Nasdaq Composite recorded 69 new highs and 21 new lows. +(Reporting by Stephen Culp; Additional reporting by Shreyashi +Sanyal and Johann M Cherian in Bengaluru; Editing by Aurora +Ellis) \ No newline at end of file diff --git a/news/GOOG/2023.01.25/Alphabet A : Credit Suisse maintains a Buy rating.txt b/news/GOOG/2023.01.25/Alphabet A : Credit Suisse maintains a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..31d978707e674ce58ceca48b66a1f8d377cc3859 --- /dev/null +++ b/news/GOOG/2023.01.25/Alphabet A : Credit Suisse maintains a Buy rating.txt @@ -0,0 +1 @@ +In his latest research note, analyst Stephen Ju confirms his positive recommendation. The broker Credit Suisse is keeping its Buy rating. The target price is increased from USD 128 to USD 145. \ No newline at end of file diff --git a/news/GOOG/2023.01.25/Google makes changes to some services in India.txt b/news/GOOG/2023.01.25/Google makes changes to some services in India.txt new file mode 100644 index 0000000000000000000000000000000000000000..532b7447284450a8b0123d568dac5e0f0f41da49 --- /dev/null +++ b/news/GOOG/2023.01.25/Google makes changes to some services in India.txt @@ -0,0 +1 @@ +The move comes after the country's Supreme Court upheld stringent antitrust directives, forcing the U.S. firm to change how it markets its popular Android platform in a key growth market. (Reporting by Nallur Sethuraman in Bengaluru) \ No newline at end of file diff --git a/news/GOOG/2023.01.25/Google says DOJ's antitrust suit is 'without merit'.txt b/news/GOOG/2023.01.25/Google says DOJ's antitrust suit is 'without merit'.txt new file mode 100644 index 0000000000000000000000000000000000000000..db12e79ed41c69b199aa8f4fa8afe685cfdeec00 --- /dev/null +++ b/news/GOOG/2023.01.25/Google says DOJ's antitrust suit is 'without merit'.txt @@ -0,0 +1 @@ +Google on Wednesday said it will "defend itself vigorously" against the antitrust lawsuit, filed a day earlier by the DOJ and eight states. The lawsuit seeks to break up the company's online ad business by forcing Google to sell its ad manager suite.Matt Stoller, Research Director at the American Economic Liberties Project, breaks down the government's position."The basis of the case is that Google is controlling the buy-side, the sell-side - so that would be the buyers of advertising, the sellers of advertising, that would publishers, newspapers - and then the matching engine. And that that would be a series of conflicts of interest and that Google has been manipulating these advertising markets, charging too much and excluding competitors." Advertisers and website publishers have complained that Google, which is owned by Alphabet, has not been transparent about where ad dollars go, specifically how much goes to publishers and how much to Google. "So Google effectively can say - they can set the price, no one can audit them. And what you should have, is when you put a dollar of advertising into an advertising system, maybe 5 to 10 % of that should go to the middle men [FLASH]. What the DOJ says, and these eight states say, is that about 35% of that money is going to Google, and that's a really, really high amount, that's a high percentage of take." Google, which depends on its advertising business for about 80% of its revenue, said the government was "doubling down on a flawed argument that would slow innovation, raise advertising fees and make it harder for thousands of small businesses and publishers to grow." The Justice Department asked for a jury to decide the case, which was filed in Virginia. \ No newline at end of file diff --git a/news/GOOG/2023.01.25/Google says U.S. Justice Department complaint is 'without merit'.txt b/news/GOOG/2023.01.25/Google says U.S. Justice Department complaint is 'without merit'.txt new file mode 100644 index 0000000000000000000000000000000000000000..1138b3675f90fb87ed59bb2fab5280323a85bc54 --- /dev/null +++ b/news/GOOG/2023.01.25/Google says U.S. Justice Department complaint is 'without merit'.txt @@ -0,0 +1 @@ +The company also added it will "defend itself vigorously".The government on Tuesday said Google should be forced to sell its ad manager suite, tackling a business that generated about 12% of Google's revenue in 2021 while also playing a vital role in the search engine and cloud company's overall sales.Google, which depends on its advertising business for about 80% of its revenue, said the government was "doubling down on a flawed argument that would slow innovation, raise advertising fees and make it harder for thousands of small businesses and publishers to grow."The federal government has said its Big Tech investigations and lawsuits are aimed at leveling the playing field for smaller rivals who are up against a group of powerful companies that include Amazon.com, Facebook-owner Meta Platforms and Apple Inc."In contrast with prior cases/investigations against Google's ad tech biz, we view the DOJ complaint as fairly substantive and preempting some potential Google lines of defense," said Wells Fargo analyst Brian Fitzgerald. (Reporting by Tiyashi Datta and Nivedita Balu in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/GOOG/2023.01.25/Judge Leonie Brinkema named to oversee U.S. lawsuit against Google.txt b/news/GOOG/2023.01.25/Judge Leonie Brinkema named to oversee U.S. lawsuit against Google.txt new file mode 100644 index 0000000000000000000000000000000000000000..31d32dfd2585b770588c4652cc612a40cc48911a --- /dev/null +++ b/news/GOOG/2023.01.25/Judge Leonie Brinkema named to oversee U.S. lawsuit against Google.txt @@ -0,0 +1 @@ +The government on Tuesday argued that Google should be forced to sell its ad manager suite, tackling a business that generated about 12 percent of Google's revenues in 2021 but also plays a vital role in the search engine and cloud company's overall sales.Google said on Wednesday that the complaint was "without merit."According to a filing to the docket late Tuesday, Brinkema, 78 and whose court is in Alexandria, Virginia, near Washington, was assigned to oversee the case. The government has asked for a jury trial. It is the second antitrust lawsuit filed by the department, with the first coming near the end of the Trump administration in 2020. That will go to trial in September.In addition to putting a stay on Trump's executive order, Brinkema, who was nominated by President Bill Clinton, also oversaw the trial of Sept. 11 conspirator Zacarias Moussaoui, who is now in a maximum security prison in Colorado. (Reporting by Diane Bartz; editing by Jonathan Oatis) \ No newline at end of file diff --git a/news/GOOG/2023.01.25/Marketmind: Cloudy outlook.txt b/news/GOOG/2023.01.25/Marketmind: Cloudy outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..30c43da88a0e108d583093b0838339dfbd4319a2 --- /dev/null +++ b/news/GOOG/2023.01.25/Marketmind: Cloudy outlook.txt @@ -0,0 +1 @@ +With market visibility extremely low, bouts of optimism about peak interest rates this year are being repeatedly punctured by the related fear of falling demand and the prospect of a looming profits recession.And deep in the weeds of the fourth-quarter corporate earnings season, Microsoft's overnight rollercoaster probably defines the uncertainty.Microsoft stock surged almost 5% in after-hours trading on Tuesday after its bottom line beat the Street consensus. But the gains were quickly wiped out after a gloomier outlook for its cloud business Azure dampened the mood, before Wednesday's outage of its Teams and Outlook services added another glitch to leave the stock down 1% ahead of Wednesday's open.The mixed earnings picture dampened early week enthusiasm surrounding tech stocks and chipmakers. Even forecast sales growth of 25% in 2023 wasn't enough to stop shares in Dutch chip equipment giant ASML giving back some of its 20%-plus gains for the year so far and they dropped 2% on Wednesday.Antitrust worries also rattled Big Tech. Google-parent Alphabet lost 2% on Tuesday after the Justice Department filed a lawsuit against Google for abusing its dominance of the digital advertising business.Up next on the corporate roundup on Wednesday are Tesla, IBM, Boeing, AT&T and NextEra Energy.After a spluttering close on Tuesday, Wall St stock futures were down almost 1% before the open today. The bigger macro picture was no less equivocal than the earnings drumbeat. While the first U.S. business surveys of the year showed some of last year's pessimism lifting, and above forecast, they also showed the 7th straight month of contracting activity in January. The Richmond Federal Reserve's manufacturing index plunged back to its lowest since June, the low for the current cycle.U.S. Treasury yields slipped back, with 10-year yields falling to 3.43% as eyes drift to next week's Fed policy meeting and the assumption the central bank will downsize its latest rate rise to 25 basis points. With the debt ceiling impasse also in the background, the U.S. yield curve between 3-months and 10-years inverted to another 40-year low of minus 130bp.Traders will watch the Bank of Canada policy decision later on Wednesday for confirmation that interest rate rises are slowing down at least. The BoC is expected to raise rates by another 25bp to 4.5% this week, but then hit the pause button on what has been an aggressive tightening campaign.The global inflation picture also gives mixed signals. While annual British input and factory gate price inflation fell back far more than forecast last month, Australian consumer price inflation data shocked markets as it shot to a 33-year high in the December quarter. The chance it may force the Reserve Bank of Australia to lift interest rates again boosted the Aussie dollar.There was more evidence of the new year euro zone business rejuvenation as Germany firms' optimism improved amid easing energy costs and a warm winter.In deals news, Rupert Murdoch withdrew a proposal to reunite News Corp and Fox - with the company exploring a sale of Move Inc, which operates the Realtor.com website, to CoStar Group for about $3 billion.Key developments that may provide direction to U.S. markets later on Wednesday: * Bank of Canada policy decision. * U.S. Treasury Secretary visits South Africa* U.S. Treasury auctions 5-year note, 2-year floating rate note* U.S. corp earnings: Tesla, Ameriprise, Nasdaq, U.S. Bancorp, Abbott, NextEra, AT&T, IBM, Boeing, CSX, Seagate Technology, Crown Castle, Lam Research, Freeport-McMoRan, Hess, Las Vegas Sands, ADP, ServiceNow, Teradyne, United Rentals, Kimberly-Clark, Norfolk Southern, Marketaxess, Amphenol, Textron etc (By Mike Dolan, editing by Elaine Hardcastle mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/GOOG/2023.01.25/Marketmind: Running out of breath.txt b/news/GOOG/2023.01.25/Marketmind: Running out of breath.txt new file mode 100644 index 0000000000000000000000000000000000000000..68b6e8481233b53ce9d952651323a0a38b2e24d6 --- /dev/null +++ b/news/GOOG/2023.01.25/Marketmind: Running out of breath.txt @@ -0,0 +1 @@ +After a strong start to the year, fuelled by hopes that the outlook for the world economy was not shaping up as bad as expected a few months ago, stocks are finally taking a breather.Asian equities held steady on Wednesday near seven-month highs after a mixed session on Wall Street.On the corporate front, Barclays CEO C.S. Venkatakrishnan appointed former Credit Suisse dealmaker Cathal Deasy as co-head of investment banking with a view to grow the business and an eye for succession.And a group of minority shareholders that appealed against the French government's full nationalisation of energy giant EDF dropped the motion on the eve of the hearing.On a thin day for economic data, focus will be on U.K. producer prices and the German IFO.European stock futures dipped 0.3%, indicating a weaker start for markets, while U.S. stock futures shed 0.5%.Revenue at Europe's largest companies is expected to have risen by just 0.9% in the fourth quarter, Refinitiv I/B/E/S data showed on Tuesday.The forecast, which tracks companies listed on the pan-European STOXX 600 benchmark index, represents a drop from last week when analysts expected revenue growth of 4%.Investment strategists at Standard Chartered say it is time to fade the rally seen in European stocks and the euro since the lows of September.They say an unusually warm winter has allayed fears of wide-spread energy shortages and rationing in Europe. China's economic reopening has been another tailwind for European exporters' prospects.But they outlined many challenges for European equities, including stretched technicals and an increasingly hawkish central bank policy.Meanwhile, Microsoft kicked off the U.S. tech season with a sobering outlook and forecast that third-quarter revenue in its cloud business would come just shy of market forecasts.The 2% increase in the last quarter's revenue, the slowest in more than five years, signalled tougher times for tech companies just as Apple and Google-parent Alphabet are due to report earnings next week.Key developments that could influence markets on Wednesday: Economic data: U.K. December producer prices, Germany January IfoEuropean results: Christian Dior U.S. results: IBM, AT&T, Boeing, Whirlpool (Reporting by Anshuman Daga; Editing by Christopher Cushing) \ No newline at end of file diff --git a/news/GOOG/2023.01.25/Microsoft's dour outlook raises red flags for tech sector.txt b/news/GOOG/2023.01.25/Microsoft's dour outlook raises red flags for tech sector.txt new file mode 100644 index 0000000000000000000000000000000000000000..0e9b4efc2f021805892d09871a1465e381b4aeb7 --- /dev/null +++ b/news/GOOG/2023.01.25/Microsoft's dour outlook raises red flags for tech sector.txt @@ -0,0 +1 @@ +(Reuters) - Microsoft Corp's lackluster quarterly outlook points to more gloom ahead for the tech sector, analysts said, after the tech bellwether warned its customers were cautious about spending in a turbulent economy.   Microsoft, the second most valuable U.S. company, sounded a cautious note in its quarterly earnings report as a steep fall in client spending has sparked a series of high-profile layoffs in the tech industry.The company's Chief Executive Officer, Satya Nadella, and other Microsoft executives used the words "caution" and "cautious" at least six times on the one hour call on Tuesday. "Microsoft is the biggest bellwether for enterprise and cloud spending in the world. Nadella's comments about slowdown in the cloud is not surprising... It confirms a darker macro is in the horizon," said Dan Ives, analyst at Wedbush. "This is going to be a trend we see across the tech space, with management teams being conservative given the uncertain environment," Ives added.Nadella, however, said Microsoft would focus on AI technology, calling it the next major wave of computing.The tech giant has made multibillion dollar investments in OpenAI, deepening ties with the startup behind the chatbot sensation ChatGPT and building on a bet it made on AI four years ago.Analysts said the sharp slowdown in Microsoft's revenue growth was a "warning sign" for the tech sector, with more weakness at its PC division than the cloud business.  "What we learned is that no one is immune to macro... what is telling is the quarter was largely fine, but we started to see softness in December and the outlook for this quarter was worse than expected," said Rishi Jaluria, analyst at RBC. Microsoft forecast third-quarter revenue in its so-called intelligent cloud business a tad below analysts' estimates, with a growth rate of as much as 19%. It did, however, report better-than-expected second-quarter revenue for that segment, which initially pushed shares higher on Tuesday evening.Companies from Amazon.com Inc to Facebook-parent Meta Platforms are already preparing for tougher months ahead by slashing tens of thousands of jobs to keep their cash reserves high.Analysts expect the cash to be used for other investments, which could include fresh buybacks, mergers and acquisitions or new technology such as artificial intelligence.Microsoft's shares were down about 3% in pre-market trading on Wednesday. Shares of cloud companies including Alphabet Inc's Google, Amazon.com, Salesforce, Cisco and Workday Inc all declined.  (Reporting by Nivedita Balu and Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri)By Nivedita Balu and Tiyashi Datta \ No newline at end of file diff --git a/news/GOOG/2023.01.25/Nasdaq futures drop 1% after Microsoft's bleak outlook.txt b/news/GOOG/2023.01.25/Nasdaq futures drop 1% after Microsoft's bleak outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..0b02fbc299950538120455b2c9202495bbb824b1 --- /dev/null +++ b/news/GOOG/2023.01.25/Nasdaq futures drop 1% after Microsoft's bleak outlook.txt @@ -0,0 +1 @@ +Microsoft Corp shares fell 2.1% in premarket trading after it warned that growth in its cloud business, which helped the company meet analysts' expectations in the second quarter, could stall, while its PC unit continues to struggle. Other large growth stocks including Amazon.com Inc, Tesla Inc, Apple Inc and Alphabet Inc also dropped between 1% and 2%. Growth stocks have enjoyed a bounce in January after a battering last year, with investors now focused on earnings reports to assess the impact of the Federal Reserve's rate hikes and to gauge whether the renewed enthusiasm for such stocks will be sustained."Microsoft is dealing with a marked slowdown in personal computing revenues, which reflects the incredibly challenging consumer environment," Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown wrote in a client note. "Despite renewed hope that interest rate hikes might be slowed and peak inflation coming into view, buying a new laptop and the software that comes with it is simply not a priority for many people right now." Microsoft was also hit with a networking outage that disrupted its cloud platform, Azure, along with services such as Teams and Outlook, potentially affecting millions of users globally. At 5:30 a.m. ET, Dow e-minis were down 215 points, or 0.64%, S&P 500 e-minis were down 31.75 points, or 0.79%, and Nasdaq 100 e-minis were down 140.25 points, or 1.18%. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOG/2023.01.25/Prosus, Naspers cutting 30% of jobs at corporate offices.txt b/news/GOOG/2023.01.25/Prosus, Naspers cutting 30% of jobs at corporate offices.txt new file mode 100644 index 0000000000000000000000000000000000000000..e898e27aa6bda1a8bae7d246a6dbfd753dc96e14 --- /dev/null +++ b/news/GOOG/2023.01.25/Prosus, Naspers cutting 30% of jobs at corporate offices.txt @@ -0,0 +1 @@ +The companies are the latest major technology-based firms to make layoffs, after Google parent Alphabet's big cuts announced last week."We are adapting to a changing macro environment and have been working for some time to strengthen our cost structures," a Prosus spokesperson said in a statement on Wednesday.Prosus and Naspers have around 15 corporate offices around the world, with the largest ones in Johannesburg and Amsterdam. "Today we are announcing a reduction of some roles as we realign our efforts on specific areas and reduce our cost base."Prosus/Naspers have around 30,000 employees but most are employed at companies in their investment portfolio. There is no figure available for the number employed at corporate offices located around the globe, a spokesperson said.Prosus owns and operates some of the companies it invests in, including Brazilian meal delivery giant iFood and online classifieds marketplace OLX.It also owns minority stakes in dozens of companies such as Delivery Hero.Those companies are making their own decisions on staffing, the spokesperson said, on differing time frames.There was no schedule for the cuts to the corporate offices. (Reporting by Toby Sterling; Editing by Jane Merriman and Alexander Smith) \ No newline at end of file diff --git a/news/GOOG/2023.01.25/Tech firms, Wall Street lead job cuts in corporate America.txt b/news/GOOG/2023.01.25/Tech firms, Wall Street lead job cuts in corporate America.txt new file mode 100644 index 0000000000000000000000000000000000000000..fd890bcdb7d35647563c0cadfba7f359ee7178e2 --- /dev/null +++ b/news/GOOG/2023.01.25/Tech firms, Wall Street lead job cuts in corporate America.txt @@ -0,0 +1,85 @@ +Feb 27 (Reuters) - Big Tech firms and Wall Street titans +are leading a string of layoffs across corporate America as +companies look to rein in costs to ride out a global economic +downturn.Rapid interest rate hikes and weak consumer demand have +forced firms such as Amazon, Walt Disney, Facebook-owner Meta +and American banks to trim their workforce.Tech companies shed more than 150,000 workers in 2022 amid a +rapidly fading pandemic-led demand boom, according to tracking +site Layoffs.fyi, and more layoffs are expected as growth in the +world's biggest economies slows.Here are some of the job cuts by major American companies +announced in recent weeks.TECHNOLOGY, MEDIA AND TELECOM SECTORIBM Corp:The software and consulting firm said it will lay off 3,900 +employees.Spotify Technology SA:Music streaming service Spotify is cutting 6% of its +workforce, or roughly 600 roles.Alphabet Inc:Alphabet Inc is eliminating 12,000 jobs, its chief executive +said in a staff memo.Microsoft Corp:The U.S. tech giant said it would cut 10,000 jobs by the end +of the third quarter of fiscal 2023.The company laid off under 1,000 employees across several +divisions in October, Axios reported, citing a source.Amazon.com Inc:The e-commerce giant said company-wide layoffs would impact +over 18,000 employees.Meta Platforms Inc:The Facebook-parent said it would cut 13% of its workforce, +or more than 11,000 employees, as it grapples with a weak +advertising market and mounting costs.Intel Corp:CEO Pat Gelsinger told Reuters "people actions" would be +part of a cost-reduction plan. The chipmaker said it would +reduce costs by $3 billion in 2023.Twitter Inc:The social media company has laid off at least 200 +employees, or about 10% of its workforce, the New York Times +reported. The layoffs come after Twitter terminated about 3,700 +people, representing about half of the total staff, in November, +soon after Elon Musk took over the firm.Lyft Inc:The ride-hailing firm said it would lay off 13% of its +workforce, or about 683 employees, after it already cut 60 jobs +earlier this year and froze hiring in September.Salesforce Inc:The software company said it would lay off about 10% of its +employees and close some offices as a part of its restructuring +plan, citing a challenging economy.Cisco Systems Inc:The networking and collaboration solutions company said it +will undertake restructuring which could impact roughly 5% of +its workforce. The effort will begin in the second quarter of +the fiscal year 2023 and cost the company $600 million.HP Inc:The computing devices maker said it expected to cut up to +6,000 jobs by the end of fiscal 2025.Workday Inc:The software company will cut roughly 500 jobs, or 3% of its +workforce, citing a challenging macroeconomic environment.NetApp Inc:The cloud firm announced an 8% reduction in its global +workforce. The company had 12,000 employees as of April 29, +2022.Rivian Automotive Inc:The company is laying off 6% of its workforce in an effort +to cut costs as the EV maker, already grappling with falling +cash reserves and a weak economy, braces for an industry-wide +price war.Match Group:The Tinder parent said it would lay off about 8% of its +workforce, a day after it forecast first-quarter revenue below +Wall Street expectations.Dell Technologies Inc:The company will eliminate about 6,650 jobs, or 5% of its +global workforce, as the PC maker grapples with falling demand +and braces for economic uncertainty.Palantir Technologies Inc:The data analytics firm said it had cut about 2% of its +workforce. Palantir, known for its work with the U.S. Central +Intelligence Agency, had 3,838 full-time employees as of Dec. +31, 2022.FINANCIAL SECTORGoldman Sachs Group Inc:Goldman Sachs began laying off staff on Jan. 11 in a +sweeping cost-cutting drive, with around a third of those +affected coming from the investment banking and global markets +division, a source familiar with the matter told Reuters.The job cuts are expected to be just over 3,000, one of the +sources said on Jan. 9, in what would be the biggest workforce +reduction for the bank since the financial crisis.Morgan Stanley:The Wall Street powerhouse is expected to start a fresh +round of layoffs globally in the coming weeks, Reuters reported +on Nov. 3, as dealmaking business takes a hit.Citigroup Inc:The bank eliminated dozens of jobs across its investment +banking division, as a dealmaking slump continues to weigh on +Wall Street's biggest banks, Bloomberg News reported.BlackRock Inc:The asset manager is cutting up to 500 jobs, Insider +reported, citing a memo.Genesis:The cryptocurrency firm has cut 30% of its workforce in a +second round of layoffs in less than six months, a person +familiar with the matter told Reuters.Coinbase Global:The cryptocurrency exchange said it would slash nearly 950 +jobs, the third round of workforce reduction in less than a year +after cryptocurrencies, already squeezed by rising interest +rates, came under renewed pressure following the collapse of +major exchange FTX.Stripe Inc:The digital payments firm is cutting its headcount by about +14% and will have about 7,000 employees after the layoffs, +according to an email to employees from the company's founders.CONSUMER AND RETAIL SECTORBeyond Meat Inc:The vegan meat maker said it plans to cut 200 jobs this +year, with the layoffs expected to save about $39 million.Blue Apron Holdings Inc:The online meal-kit company said it will cut about 10% of +its corporate workforce, as it looks to reduce costs and +streamline operations. The company had about 1,657 full-time +employees, as of Sept. 30.DoorDash Inc:The food delivery firm, which enjoyed a growth surge during +the pandemic, said it was reducing its corporate headcount by +about 1,250 employees.Bed Bath & Beyond:The retailer will lay off more employees this year in an +attempt to reduce costs. Last year, company executives had said +the home goods retailer was cutting about 20% of its corporate +and supply chain workforce.ENERGY AND RESOURCES SECTORDow Inc:The U.S. chemicals maker said it would cut about 2,000 jobs +as it navigates challenges including inflation and supply chain +disruptions.Phillips 66:The refiner reduced employee headcount by over 1,100 as it +seeks to meet its 2022 cost savings target of $500 million. The +reductions were communicated to employees in late October.HEALTH AND PHARMACEUTICAL SECTORJohnson & Johnson:The pharmaceutical giant has said it might cut some jobs +amid inflationary pressure and a strong dollar, with CFO Joseph +Wolk saying the healthcare conglomerate is looking at "right +sizing" itself.MANUFACTURING SECTOR3M Co:The industrial conglomerate said it would cut 2,500 +manufacturing jobs after reporting a lower profit. +(Reporting by Deborah Sophia in Bengaluru; Additional reporting +by Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik, +Sourasis Bose, Priyamvada C, Tiyashi Datta and Manya Saini; +Editing by Shinjini Ganguli, Shounak Dasgupta, Sriraj Kalluvila, +Vinay Dwivedi, Sonia Cheema and Maju Samuel) \ No newline at end of file diff --git a/news/GOOG/2023.01.25/Wall St falls as Microsoft outlook dents tech stocks, earnings disappoint.txt b/news/GOOG/2023.01.25/Wall St falls as Microsoft outlook dents tech stocks, earnings disappoint.txt new file mode 100644 index 0000000000000000000000000000000000000000..7f33cca16cd022dd399c3581f968f9b9ecaa3da2 --- /dev/null +++ b/news/GOOG/2023.01.25/Wall St falls as Microsoft outlook dents tech stocks, earnings disappoint.txt @@ -0,0 +1,46 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Microsoft falls on dismal Q3 cloud outlook*Salesforce, Amazon, other cloud-based stocks drop*Boeing slides after missing Q4 revenue estimates*Indexes down: Nasdaq 1.2%, S&P 0.9%, Dow 0.6%Jan 25 (Reuters) - Wall Street benchmarks dropped on +Wednesday as a decline in technology stocks after Microsoft's +downbeat forecast and a bleak quarterly report from Boeing +fanned fears of a recession.Shares of Microsoft Corp fell 1.2% after it warned +that growth in its lucrative cloud business could stall, while +its PC unit continues to struggle.Amazon.com Inc, Salesforce Inc and +ServiceNow Inc, which have large cloud businesses, fell +about 1% each. The S&P 500 technology index shed 1.3%.Other major growth stocks, including Apple Inc, +Alphabet Inc and Tesla Inc, also dropped +between 0.4% and 3%.Growth stocks, however, have enjoyed a bounce in January +after a battering last year, with investors now focused on +earnings reports to assess the impact of the Federal Reserve's +rate hikes and to gauge whether the renewed enthusiasm for these +stocks will be sustained."One of the most resilient sectors in the economy (tech) is +starting to feel the softness coming through," said Larry Adam, +chief investment officer at Raymond James."Microsoft particularly talked about December - and that's +another shot across the bow to the Fed that they make sure they +do not overtighten and send the economy into a more severe +recession than the one we're getting."An overwhelming majority of traders expect the Federal +Reserve to raise interest rates by another 25 basis points in +its meeting next week.They now see the terminal rate peaking at 4.91% in June, +even as Fed policymakers have repeatedly backed taking rates +above the 5% level.Data later in the week is likely to show December personal +consumption expenditure index (PCE) fell 0.1% from a 0.1% rise +in the prior month. Fourth quarter GDP advance numbers are also +awaited.Dow Jones Industrial Average constituent, Boeing Co +slipped 1.2% as the planemaker's losses widened in 2022 +and it missed fourth-quarter revenue estimates.At 12:21 p.m. ET, the Dow was down 208.76 points, or 0.62%, +at 33,525.20, the S&P 500 was down 34.45 points, or +0.86%, at 3,982.50, and the Nasdaq Composite was down +139.09 points, or 1.23%, at 11,195.19.Abbott Laboratories fell 1.9%, weighed down by +lower-than-expected medical device sales in the fourth quarter.In a bright spot, AT&T Inc jumped 5.4% on +higher-than-expected quarterly subscriber additions, while +Textron Inc added 0.9% as its revenue beat estimates.News Corp jumped 6.1%, leading gains on the S&P +500, after Rupert Murdoch withdrew a proposal to reunite News +Corp and Fox Corp.Meanwhile, the New York Stock Exchange said a manual error +triggered a technical issue on Tuesday, preventing the opening +auctions in some listed stocks, leading to widespread confusion +and attracting a review from the U.S. Securities and Exchange +Commission.Declining issues outnumbered advancers for a 2.20-to-1 ratio +on the NYSE and for a 1.92-to-1 ratio on the Nasdaq.The S&P index recorded two new 52-week highs and one new +low, while the Nasdaq recorded 45 new highs and 25 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Additional reporting by Medha Singh; Editing by Vinay +Dwivedi and Anil D'Silva) \ No newline at end of file diff --git "a/news/GOOG/2023.01.25/Wall Street heavyweights warn of pain ahead despite market\342\200\231s recent reprieve.txt" "b/news/GOOG/2023.01.25/Wall Street heavyweights warn of pain ahead despite market\342\200\231s recent reprieve.txt" new file mode 100644 index 0000000000000000000000000000000000000000..8558c435c45ab92ea09ab23b8884c06080d6d2c1 --- /dev/null +++ "b/news/GOOG/2023.01.25/Wall Street heavyweights warn of pain ahead despite market\342\200\231s recent reprieve.txt" @@ -0,0 +1,64 @@ +NEW YORK, Jan 25 (Reuters) -Some of Wall Street’s biggest names are throwing cold water +on expectations that the U.S. economy will scrape through 2023 +without a recession, even as hopes of easing inflation and +resilient growth propel stocks higher.Banks and asset managers that have reiterated recession +calls include BlackRock, Wells Fargo and Neuberger Berman, with +many warning the Federal Reserve is unlikely to force inflation +lower without hurting economic growth.The warnings contrast with signs of optimism in markets. The +S&P 500 has jumped more than 4% so far in 2023, fueled in part +by bets that inflation will continue to slow, allowing the Fed +to soon pull back from the rate increases that shook markets +last year. The tech-heavy Nasdaq 100 is up more than 7%.“Money is dying to get back into this market but we still +think you get an economic slowdown and that earnings +expectations are still too high,” said Paul Christopher, head of +global investment strategy at the Wells Fargo Investment +Institute.Correctly gauging the economy is crucial for investors. +Stocks tend to perform poorly in economic downturns, with the +S&P 500 falling an average of 29% during recessions since World +War Two, according to Truist Advisory Services.While recessions are called in hindsight, investors have +said that still-robust job growth makes it unlikely that one has +already started.Many strategists are focused on the Fed, pointing to years +of market history that suggests the central bank's rapid rate +hikes will eventually force unemployment higher and tip the +economy into a recession.The Fed last year raised its benchmark rate to between 4.25% +and 4.50% from zero and is widely expected to increase it by +another 25 basis points at the conclusion of its Feb. 1 meeting.Policymakers have projected their key policy rate would top +out at between 5.00% and 5.25% this year. Market pricing +indicates investors are taking a more dovish view, with the rate +peaking below 5% around mid-June before falling in the second +half of the year.The latter outlook is not shared by BoFA’s strategists, who +recommended positions that would benefit from a “grind lower” in +U.S. equities, noting that Fed "cutting cycles in history have +almost exclusively been associated with either a recession ... +or a financial accident," they said.Charlie McElligott, managing director of cross-asset +strategy of Nomura Securities, believes the current rise in +stocks is partially driven by under-positioned investors fearful +of missing a longer-term shift to the upside, a dynamic that +fueled several rallies last year.Those rebounds inevitably crumbled, leaving the S&P 500 with +a 19.4% annual loss, its worst since 2008. The most recent rally +has lifted the S&P 500 more than 11% from its October lows."You are now getting the disinflationary impulse that the +Fed has been seeking and it's moving ahead of schedule," he +said. "Now the challenge is that people are under-positioned and +are ... absolutely being forced into a painful trade because the +Fed hasn't won the fight yet."The current stock rally “hints at how markets will likely +react once inflation eases and rate hikes pause,” wrote analysts +at BlackRock, the world’s largest asset manager, earlier this +week. “Before this outlook becomes reality, we see (developed +market) stocks falling when recessions we expect manifest.”Neuberger Berman sees the S&P 500 dropping to as low as +3,000 this year - a decline of nearly 25% from its current level +- as rebounding inflation forces the Fed to become more +aggressive."You need that kind of decline in stock prices to neutralize +the wealth effect that is the source of inflation," said Raheel +Siddiqui, a senior research analyst in the firm's global equity +research division.Of course, plenty of investors are taking banks' forecasts +with a grain of salt.Burns McKinney, a portfolio manager at NFJ Investment Group, +noted that most banks failed to predict the inflationary surge +that forced the Fed to ratchet up rates. Strategists polled by +Reuters at the end of 2021 saw the S&P 500 gaining a median of +7.5% last year.McKinney expects any recession to be a shallow one, and +is moving into industrial stocks and technology firms that are +poised to benefit from slowing inflation.“Stocks aren’t terribly cheap and they are not terribly +expensive either,” he said. “There’s a lot of ways to describe +Goldilocks but the market is priced just about right.”(Reporting by David Randall, additional reporting by Lewis +Krauskopf and Saqib Iqbal Ahmed, Editing by Ira Iosebashvili and +Deepa Babington) \ No newline at end of file diff --git a/news/GOOG/2023.01.26/Software giant SAP to cut 3,000 jobs.txt b/news/GOOG/2023.01.26/Software giant SAP to cut 3,000 jobs.txt new file mode 100644 index 0000000000000000000000000000000000000000..8ebd6c3ec506e2866d77bec36eee2defc4a3137c --- /dev/null +++ b/news/GOOG/2023.01.26/Software giant SAP to cut 3,000 jobs.txt @@ -0,0 +1 @@ +Software giant SAP said it planned to cut 3,000 jobs - or 2.5% of its global workforce.The German firm follows Microsoft, Amazon and Alphabet's Google in announcing huge layoffs. It also comes a day after IBM said it would shed 3,900 jobs. The U.S. giants all blamed tougher economic conditions.SAP wants to cut costs and focus on its cloud business.It has also explored a sale of its 71% stake in survey-software seller Qualtrics.The firm has a current market valuation of $7 billion.That's well down on the $21 billion value Qualtrics had when it went public two years ago.The layoffs come despite SAP reporting a 30% rise in revenue at its cloud business in the fourth quarter.It has forecast core operating profit of up to $9.7 billion for this year, and expects cloud revenue to reach around $17 billion.Shares in the firm were down over 3% in early trade. \ No newline at end of file diff --git a/news/GOOG/2023.01.26/U.S. lawsuit against Google could benefit Apple and others.txt b/news/GOOG/2023.01.26/U.S. lawsuit against Google could benefit Apple and others.txt new file mode 100644 index 0000000000000000000000000000000000000000..0467c71433f28801e43419656efcc461deadb6f1 --- /dev/null +++ b/news/GOOG/2023.01.26/U.S. lawsuit against Google could benefit Apple and others.txt @@ -0,0 +1 @@ +The Justice Department's complaint against Google on Tuesday called for the company to divest Google Ad Manager, a suite of tools including one that lets websites put ad space up for a sale and another that served as an ad marketplace that automatically matched advertisers with those publishers. If the Justice Department lawsuit succeeds, "advertisers and publishers could have more leverage with more options with expanding players - and consequently more competition," said Neil Begley of Moody's Investors Service.Apple Inc, which is steadily growing its nascent advertising business and promoting it as privacy-focused, could be a winner if Google ads become less effective, said Brian Mandelbaum, chief executive of marketing firm Attain.Ad industry executives say Google's business in placing ads on websites it does not own gives Google valuable information on an ad's effectiveness. Apple has "an ability to be a new dominant force," in advertising because Apple has data through its ownership of phones, its Safari web browser and the distribution of apps through the App Store, he said. Google's competitors in ad tech are increasingly creating products that serve both the publishers like news websites, which sell ad space, and advertisers who buy ads, like Google currently does, said Paul Bannister, chief strategy officer at CafeMedia, which helps small and medium-sized publishers sell ad space. If Google is forced to divest the tools that serve publishers, it would benefit competitors like Xandr, which is owned by Microsoft, that will still work with both sides of the ad-buying ecosystem, Bannister said. With more options besides Google, publishers will have more transparency over how much they can sell ad space for, and could end up paying less in fees, Mandelbaum said. If successful, the lawsuit could be "the beginning of serious business model changes for Google," said Paul Gallant, managing director at Cowen Washington Research Group. The divested assets could result in Google losing key data that helps target ads to relevant consumers, he said. If Google loses access to data signals, advertisers could see their Google ads become less effective, said Nikhil Lai, senior analyst at research firm Forrester. At least twice before, the government has filed lawsuits against dominant companies with far-reaching results. A lawsuit breaking up AT&T, filed in 1974, resulted in an agreement in 1982 to break up the company. That breakup has been credited with a host of innovations in telephony.The Justice Department's lawsuit against Microsoft, filed in 1998, reined in the company at a time when it was seeking to extend its dominant operating system to the internet browser. While the lawsuit settled, the fight is credited with opening the way for other internet innovators, like Google itself. (Reporting by Sheila Dang and Diane Bartz; Editing by Nick Zieminski)By Sheila Dang and Diane Bartz \ No newline at end of file diff --git a/news/GOOG/2023.01.27/Analysis-Google faces greater threat of forced ad unit sale from U.S. lawsuit.txt b/news/GOOG/2023.01.27/Analysis-Google faces greater threat of forced ad unit sale from U.S. lawsuit.txt new file mode 100644 index 0000000000000000000000000000000000000000..26ecec3ef119edea1d159d164bdf5f14094ecaea --- /dev/null +++ b/news/GOOG/2023.01.27/Analysis-Google faces greater threat of forced ad unit sale from U.S. lawsuit.txt @@ -0,0 +1 @@ +The complaint filed Tuesday in a Virginia federal court by the U.S. Department of Justice Antitrust Division attempts to compel Google to sell part of its advertising technology unit. The suit mirrors allegations in another antitrust case brought against Google in New York federal court by a Texas-led coalition of 17 states in 2020. Both suits accuse the Alphabet Inc-owned company of abusing its dominance in online advertising, which Google has vigorously denied. A court would be more likely to order structural changes in a company with nationwide impact if the U.S. government were making the argument, not just a group of states, the experts said. "To the extent that any federal court is going to be in the business of breaking up Google, it's going to be a lot more comfortable doing that if the plaintiff is the federal government," said Vanderbilt University law professor Rebecca Haw Allensworth.Still, Allensworth and other experts were skeptical that a court would force the sale of a business unit at a company as large and central to the economy as Google. Google's ad-tech business accounted for roughly 12% of the company's revenue in 2021 and plays a vital role in its overall sales. In the states' case, a New York federal judge in September rejected Google's bid to dismiss it entirely. But the court disallowed some of the claims, including allegations that the company struck an illegal cooperation agreement with Facebook parent company Meta Platforms Inc.The states' suit asks for any remedies the court deems appropriate, and Texas Attorney General Ken Paxton has said all possible punishments are on the table. The Justice Department's suit seeks at minimum the sale of Google's ad manager suite, among other things. The federal "complaint has a degree of specificity that the other Google complaint does not," New York University law professor Harry First said. "That indicates to me that they are very serious about actually changing the structure of Google's ad tech business." The Texas Attorney General's Office did not respond to a request for comment while the Justice Department declined to comment. Google did not immediately respond to a request for comment. States periodically sue companies for alleged violations of antitrust law, but the federal government sometimes either intervenes directly or files its own suit to assert its nationwide perspective. Legal experts said that while judges don't always defer to the federal government when it steps into state antitrust disputes, the opinions of the DOJ and U.S. Federal Trade Commission can factor heavily in their decisions. For example, after New York and 12 other states sued to block the merger of wireless carriers T-Mobile and Sprint in 2019, the U.S. government argued the deal should go forward because it would improve wireless coverage in rural areas.In that case, the DOJ urged the court to give weight to its "uniform, nationwide perspective" and deny the states' request for an injunction blocking the deal. The court agreed, and the merger later went through with certain conditions in a separate settlement brokered by the Justice Department. "If the ultimate goal is to change the structure of the company, the federal government is in a much stronger position," Syracuse University law professor Shubha Ghosh said.Google also faces two largely parallel antitrust lawsuits by states and the federal government alleging unlawful dominance in online searching. The company has denied those allegations as well. (Reporting by Jack Queen and Mike Scarcella; editing by Amy Stevens and Cynthia Osterman)By Jack Queen and Mike Scarcella \ No newline at end of file diff --git a/news/GOOG/2023.01.27/Australia regulator to probe social media influencers for false endorsements.txt b/news/GOOG/2023.01.27/Australia regulator to probe social media influencers for false endorsements.txt new file mode 100644 index 0000000000000000000000000000000000000000..bb02032b56906c6967771d9c79f7b54b2e0ea95f --- /dev/null +++ b/news/GOOG/2023.01.27/Australia regulator to probe social media influencers for false endorsements.txt @@ -0,0 +1 @@ +The Australian Competition and Consumer Commission (ACCC) said it would look at more than 100 influencers after several consumers informed the regulator about some endorsements and testimonials which they said were misleading."The number of tip-offs reflects the community concern about the ever-increasing number of manipulative marketing techniques on social media, designed to exploit or pressure consumers into purchasing goods or services," ACCC Chair Gina Cass-Gottlieb said in a statement.As part of the sweep, ACCC has begun reviewing Meta Platforms Inc's Facebook and Instagram, TikTok, Snap Inc's Snapchat, Alphabet Inc's YouTube and Amazon.com Inc's streaming service Twitch, Cass-Gottlieb said.The probe will target influencers in fashion, cosmetics, food and beverage, travel, fitness, parenting, gaming and technology. It will also check if advertisers, marketers, brands and social media platforms are facilitating any misconduct.Individuals who breach Australian consumer laws could be fined up to A$2.5 million ($1.78 million). The ACCC has been conducting a series of investigations as part of a broader Digital Platform Services Inquiry, focused on the provision of social media services, including sponsored posts and influencer advertising on social media platforms. It is expected to submit its sixth interim report by March 31. ($1 = 1.4053 Australian dollars) (Reporting by Renju Jose; Editing by Simon Cameron-Moore) \ No newline at end of file diff --git a/news/GOOG/2023.01.27/Russia blocks CIA, FBI websites for 'spreading false information' - TASS.txt b/news/GOOG/2023.01.27/Russia blocks CIA, FBI websites for 'spreading false information' - TASS.txt new file mode 100644 index 0000000000000000000000000000000000000000..836aa81b1cdd3d06e18371e7146b5b878db41723 --- /dev/null +++ b/news/GOOG/2023.01.27/Russia blocks CIA, FBI websites for 'spreading false information' - TASS.txt @@ -0,0 +1 @@ +"Roskomnadzor has restricted access to a number of resources belonging to state structures of hostile countries for disseminating material aimed at destabilising the social and political situation in Russia," Roskomnadzor said in a statement carried by Russian news agencies. TASS quoted Roskomnadzor as saying that the two U.S. websites had published inaccurate material and information that had discredited the Russian armed forces. Representatives for the FBI, CIA and State Department did not immediately respond to a request for comment. Roskomnadzor also did not respond to a request for comment. Russia has made it a criminal offence to discredit its armed forces, a crime punishable by up to five years in jail, while knowingly distributing "false information" about the military carries a maximum sentence of 15 years.Since Russia sent tens of thousands of troops into Ukraine in February last year, Roskomnadzor has blocked a host of independent media outlets, some foreign news websites and social media platforms including Facebook, Instagram and Twitter. Top10VPN, a monitoring firm that has been tracking websites blocked in Russia since Moscow sent tens of thousands of troops into Ukraine on Feb. 24 last year, said Roskomnadzor has blocked over 4,300 domains, with more than 85% of those relating to Ukrainian, Russian and international news sites."Russian censors have previously blocked a handful of Ukraine's government websites but with the restrictions on the FBI and CIA websites, this is the first time they have prevented Russians from accessing other international government websites," Simon Migliano, Head of Research at Top10VPN.com, told Reuters."Aside from the big social media platforms, only a handful of major U.S. sites have been restricted, such as NPR, Google News and AOL, which makes the timing of these latest restrictions even more intriguing." (Reporting by ReutersEditing by Andrew Osborn and Gareth Jones) \ No newline at end of file diff --git a/news/GOOG/2023.01.27/Take Five: Goldilocks and the three bears.txt b/news/GOOG/2023.01.27/Take Five: Goldilocks and the three bears.txt new file mode 100644 index 0000000000000000000000000000000000000000..c48a8d6e8284274a6813126d25fb85878c489f5c --- /dev/null +++ b/news/GOOG/2023.01.27/Take Five: Goldilocks and the three bears.txt @@ -0,0 +1 @@ +But the story three of the world's largest central banks, set to hold their first policy meetings of 2023, tell isn't that of a "Goldilocks" scenario of a gentle slowdown in growth and a gradual easing in inflation. Here's a look at the week ahead in markets from Kevin Buckland in Tokyo, Dhara Ranasinghe and Naomi Rovnik in London and Ira Iosebashvili and Lewis Krauskopf in New York.1/WILL THE FED FOLD?Will the Federal Reserve tone down its hawkish rhetoric in the face of cooling inflation or stick to its guns? Investors widely expect a 25-basis point rate increase at the Feb. 1 meeting and for rates to stop short of hitting 5%.Fed officials, however, have indicated they expect the key policy rate to top out at 5.00-5.25% this year.Whatever signals the Fed sends could play an importing role in determining the longevity of the rally so far this year. Dollar bears, meanwhile, will watch for dovish leanings that could further accelerate a decline in the greenback. The currency has tumbled nearly 11% since hitting multi-decade highs last September. GRAPHIC - Summer peakhttps://www.reuters.com/graphics/GLOBAL-MARKETS/xmvjklalzpr/chart.png2/ BACK FROM BREAK Chinese markets are back from the week-long Lunar New Year holidays, and will look to pick up where they left off - at a five-month peak for mainland blue chips. The mood should stay bullish after officials said COVID deaths have dropped about 80% from the peak earlier this month, running counter to worries that the New Year travel rush would trigger a fresh wave of infections. Some experts even suggest that the surge in cases after the government abruptly reversed its zero-COVID policies last month has resulted in hyper-speedy herd immunity. The impact of China's Great Reopening may show up in PMIs next Tuesday, with the services sector bouncing back to expansion. Manufacturing is likely still contracting, but that has a lot to do with the timing of the New Year holiday, and next month should see a strong rebound.GRAPHIC - China's convalescent business activityhttps://www.reuters.com/graphics/CHINA-ECONOMY/PMI/gdpzqwozmvw/china-pmi-2022.jpg3/ YOUR MOVE, ECBThe ECB meets Thursday and is widely tipped to raise rates by 50 bps to 2.5%. Markets care most about what happens next and that's not clear. Policy hawks are already pushing for more of the same in March. After all, inflation is well above the 2% target as preliminary January data out on Wednesday is likely to show.Futures price in a further 100 bps worth of tightening between now and July. Amundi reckons ECB rates could reach 4%.But the doves are getting louder. Yes, inflation is high but it's off record peaks, they say. So, caution is needed before pre-commiting to rate hikes beyond February.Markets, whipped around by the differing opinions, will be looking for the ECB to speak with one voice. That, at least, is the hope. GRAPHIC - ECB expected to hike againhttps://www.reuters.com/graphics/GLOBAL-CENTRALBANKS/zjvqjebzqpx/chart.png4/THE "A" TEAM The three "A's" -- Apple, Amazon and Alphabet - three of the top four U.S. companies by market value - all report earnings on Thursday.Over 100 companies in the S&P 500 deliver results as the earnings season gets into full swing. Microsoft, the fourth of the U.S. megacaps, has already reported results. Its cloud business hit Wall Street targets, but it delivered a lacklustre forecast that offered little cheer to the broader tech sector. Tech companies generally are under pressure to grow while cutting costs ahead of a potential recession. S&P 500 earnings are set to have fallen 2.9% from the year-ago period, according to Refinitiv IBES data as of Tuesday. GRAPHIC - Big tech's earnings growth put to the testhttps://www.reuters.com/graphics/GLOBAL-MARKETS/mypmogzgmpr/chart.png 5/THE END MAY BE NIGH The Bank of England, the first of the major central banks to turn hawkish, is expected to deliver its tenth rate hike since December 2021. Money markets predict the BoE will raise rates by 0.5 percentage points to 4%. Headline inflation moderated in December to 10.5%, but it's still over five times the Bank's official target. Deutsche Bank analysts say this will be the BoE's final "forceful" hike. Recent data has shown a sharp contraction in UK business activity and lacklustre Christmas retail sales. Economists polled by Reuters now expect the BoE to stop at 4.25%. But many cited sticky core inflation, which excludes food and energy costs, as the main reason they could be wrong. GRAPHIC - Inflation mixed baghttps://www.reuters.com/graphics/BRITAIN-ECONOMY/jnvwywzdkvw/chart.png (Compiled by Amanda Cooper; Graphics by Sumanta Sen, Pasit Kongkunakornkul and Vincent Flasseur; Editing by Toby Chopra) \ No newline at end of file diff --git a/news/GOOG/2023.01.27/US STOCKS-Wall Street advances, on course for weekly gains as Fed meeting looms.txt b/news/GOOG/2023.01.27/US STOCKS-Wall Street advances, on course for weekly gains as Fed meeting looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..c4b4f65ee45fd2b3d46e32035cd5eac21bd8dd65 --- /dev/null +++ b/news/GOOG/2023.01.27/US STOCKS-Wall Street advances, on course for weekly gains as Fed meeting looms.txt @@ -0,0 +1,49 @@ +(Fixes typo in paragraph 13)*PCE: inflation cools, consumer spending falls*American Express, Visa climb higher*Chevron falls post missing profit estimates*Indexes up: Dow 0.24%, S&P 0.45%, Nasdaq 1.16%NEW YORK, Jan 27 (Reuters) - Wall Street advanced on +Friday, nearing the end of an rocky week in which economic data +and corporate earnings guidance both hinted at softening demand +but also economic resiliency ahead of next week's Federal +Reserve monetary policy meeting.All three major U.S. stock indexes were last green after +see-sawing earlier in the session, with the Nasdaq out front.From last Friday's close, the S&P and the Dow have set a +course for their third weekly gains in four, while the +tech-laden Nasdaq appears set to notch its fourth straight +weekly advance.The Commerce Department's hotly anticipated personal +consumption expenditures (PCE) report arrived largely in line +with consensus, showing softening demand and cooling inflation - +which is exactly what the Federal Reserve's restrictive interest +rate hikes are intended to accomplish."(The PCE report) is welcome news with regards to the Fed’s +mission, but they’re not ready to retreat at this point," said +Matthew Keator, managing partner in the Keator Group, a wealth +management firm in Lenox, Massachusetts. "They will stay focused +on their mission, but the hope is that they will begin to +moderate their hawkish tones."Fed Chair Jerome Powell has clearly stated that the central +bank's battle against decades-high inflation is far from over, +however. Financial markets still believe the central bank will +hike the Fed funds target rate by another 25 basis points at the +conclusion of next week's policy meeting.Fourth-quarter earnings season is running on all cylinders, +with 143 of the companies in the S&P 500 having reported. Of +those, 67.8% have beaten Street expectations, slightly better +than the 66% long-term average, but well below the 76% beat rate +over the past four quarters, according to Refinitiv.Analysts now see aggregate S&P 500 earnings falling 2.9% +year-on-year, compared with the milder 1.6% annual drop seen on +Jan. 1, per Refinitiv.The Dow Jones Industrial Average rose 81.28 points, +or 0.24%, to 34,030.69, the S&P 500 gained 18.1 points, +or 0.45%, to 4,078.53 and the Nasdaq Composite added +133.41 points, or 1.16%, to 11,645.82.Among the 11 major sectors of the S&P 500, consumer +discretionary led the percentage gainers, while energy +suffered the largest percentage losses.Shares of Intel Corp plunged 7.1% after the +chipmaker provided dismal earnings projections.Chevron Corp posted record 2022 profit, but its +fourth quarter earnings fell short of expectations, dragging the +stock down 4.1%.Rival payment companies American Express Co and Visa +Inc reported consensus-beating results, easing worries of +waning consumer demand. Their shares jumped 11.5% and 3.0%, +respectively.Bed Bath & Beyond Inc rose 4.2% in a partial +rebound after plummeting 22.2% on Thursday in the wake of +JPMorgan issuing a loan default notice.Next week, a raft of high profile earnings reports are +expected, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Advancing issues outnumbered declining ones on the NYSE by a +1.54-to-1 ratio; on Nasdaq, a 1.49-to-1 ratio favored advancers.The S&P 500 posted 14 new 52-week highs and no new lows; the +Nasdaq Composite recorded 80 new highs and 29 new lows. +(Reporting by Stephen Culp; Additonal Reporting by Bansari +Mayur Kamdar, Johann M Cherian and Shreyashi Sanyal in +Bengaluru; Editing by Aurora Ellis) \ No newline at end of file diff --git a/news/GOOG/2023.01.27/Wall Street ends higher, notches weekly gains as Fed meeting looms.txt b/news/GOOG/2023.01.27/Wall Street ends higher, notches weekly gains as Fed meeting looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..951cf12c05716ac921a5f5d82896a0ba34acf733 --- /dev/null +++ b/news/GOOG/2023.01.27/Wall Street ends higher, notches weekly gains as Fed meeting looms.txt @@ -0,0 +1,53 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*PCE: inflation cools along with consumer spending*American Express, Visa climb higher on solid demand*Chevron falls after missing profit estimates*Indexes up: Dow 0.08%, S&P 0.25%, Nasdaq 0.95%NEW YORK, Jan 27 (Reuters) - Wall Street advanced on +Friday, marking the end of an rocky week in which economic data +and corporate earnings guidance hinted at softening demand but +also economic resiliency ahead of next week's Federal Reserve +monetary policy meeting.All three major U.S. stock indexes ended the session +green, with the Nasdaq, powered by megacap momentum stocks, +enjoying the biggest gain.From last Friday's close, the S&P and the Dow posted +their third weekly gains in four, while the tech-laden Nasdaq +notched its fourth straight weekly advance.So far in the early weeks of 2023, the Nasdaq has jumped +11%, while the S&P 500 and the Dow have gained 6% and 2.5%, +respectively."It's a nice end to another solid week of what's shaping +up to be a historically strong month," said Ryan Detrick, chief +market strategist at Carson Group in Omaha. "It's a realization +that inflation continues to come down quickly and that is +alleviating a lot of worries regarding the economy."The Commerce Department's hotly anticipated personal +consumption expenditures (PCE) report arrived largely in line +with consensus, showing softening demand and cooling inflation - +which is exactly what the Federal Reserve's restrictive interest +rate hikes are intended to accomplish."(The PCE report) is another building block to the +inflation data we’ve been seeing recently," Detrick added. +"Supply chains continue to open up and improve, opening the door +for the Fed to end its aggressive rate hiking cycle."Fed Chair Jerome Powell has clearly stated that the central +bank's battle against decades-high inflation is far from over, +however. Financial markets still believe the central bank will +hike the Fed funds target rate by another 25 basis points at the +conclusion of next week's policy meeting.Fourth-quarter earnings season is running on all cylinders, +with 143 of the companies in the S&P 500 having reported. Of +those, 67.8% have beaten Street expectations, slightly better +than the 66% long-term average, but well below the 76% beat rate +over the past four quarters, according to Refinitiv.Analysts now see aggregate S&P 500 earnings falling 2.9% +year-on-year, compared with the milder 1.6% annual drop seen on +Jan. 1, per Refinitiv.The Dow Jones Industrial Average rose 28.67 points, +or 0.08%, to 33,978.08, the S&P 500 gained 10.13 points, +or 0.25%, to 4,070.56 and the Nasdaq Composite added +109.30 points, or 0.95%, to 11,621.71.Among the 11 major sectors of the S&P 500, consumer +discretionary led the percentage gainers, while energy +suffered the largest percentage loss, down 2%.Shares of Intel Corp plunged6.4% after the chipmaker provideddismal earnings projections.Chevron Corp posted record 2022 profit, but its +fourth quarter earningsfell short of expectations, dragging the stock down4.4%.Rival payment companies American Express Co and +Visa Inc reported consensus-beating results, easing +worries of waning consumer demand. There shares jumped10.5% and3.0%, respectively.Next week, in addition to the Fed meeting and January +employment data, a string of high profile earnings reports are +on tap, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Advancing issues outnumbered declining ones on the NYSE +by a 1.40-to-1 ratio; on Nasdaq, a 1.34-to-1 ratio favored +advancers.The S&P 500 posted 15 new 52-week highs and no new lows; +the Nasdaq Composite recorded 94 new highs and 32 new lows.Volume on U.S. exchanges was 11.88 billion shares, +compared with the 11.10 billion average over the last 20 trading +days. +(Reporting by Stephen Culp; Additonal Reporting by Bansari +Mayur Kamdar, Johann M Cherian and Shreyashi Sanyal in +Bengaluru; Editing by Aurora Ellis) \ No newline at end of file diff --git a/news/GOOG/2023.01.29/Asia shares brace for rate hikes, earnings rush.txt b/news/GOOG/2023.01.29/Asia shares brace for rate hikes, earnings rush.txt new file mode 100644 index 0000000000000000000000000000000000000000..ff041d5c244f79e93aa9ae63c173fd46ceab55cd --- /dev/null +++ b/news/GOOG/2023.01.29/Asia shares brace for rate hikes, earnings rush.txt @@ -0,0 +1 @@ +Earnings from a who's who of tech giants will also test the mettle of Wall Street bulls, who are looking to propel the Nasdaq to its best January since 2001.Asia has been no slouch either as China's swift reopening bolsters the economic outlook, with MSCI's broadest index of Asia-Pacific shares outside Japan up 11% in January at a nine-month high. Early Monday, the index was up 0.1% as investors looked forward to China's market resuming after the Lunar New Year holidays, while Japan's Nikkei added 0.2%. S&P 500 futures and Nasdaq futures both eased 0.1%.Investors are confident the Federal Reserve will raise rates by 25 basis points on Wednesday, followed the day after by half-point hikes from the Bank of England and European Central Bank, and any deviation from that script would be a real shock.Just as important will be the guidance on future policy with analysts expecting a hawkish message of inflation is not yet beaten and more needs to be done."With U.S. labor markets still tight, core inflation elevated, and financial conditions easing, Fed Chair Powell's tone will be hawkish, stressing that a downshifting to a 25bp hike doesn't mean a pause is coming," said Bruce Kasman, chief economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against market pricing of rate cuts later this year." There is a lot of pushing to do given futures currently have rates peaking at 5.0% in March, only to fall back to 4.5% by year end.EYEING APPLEYields on 10-year notes have fallen 31 basis points so far this month to 3.518%, essentially easing financial conditions even as the Fed seeks to tighten.That dovish outlook will also be tested by data on U.S. payrolls, the employment cost index and various ISM surveys.As for Wall Street's recent rally, much will depend on earnings from Apple Inc, Amazon.com, Alphabet Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for consumers globally and a snapshot of the China supply chain issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe iPhone 14 Pro demand is holding up firmer than expected," they added. "Apple will likely cut some costs around the edges, but we do not expect mass layoffs." Market pricing of early Fed easing has been a burden for the dollar, which has lost 1.5% so far this month against a basket of major currencies.The euro is up 1.4% for January at $1.0870 and just off a nine-month top. The dollar has even lost 1% on the yen to 129.92 despite the Bank of Japan's dogged defence of its uber-easy policies.The drop in the dollar and yields has been a boon for gold, which is up 5.6% for the month so far at $1,928 an ounce. [GOL/]China's rapid reopening is seen as a windfall for commodities in general, supporting everything from copper to iron ore to oil prices. [O/R]Beijing reported Lunar New Year travel trips inside China surged 74% from last year, though that was still only half of pre-pandemic levels.Early Monday, Brent was up 79 cents at $87.45 a barrel, while U.S. crude rose 66 cents to $80.34. (Reporting by Wayne Cole; Editing by Christopher Cushing)By Wayne Cole \ No newline at end of file diff --git a/news/GOOG/2023.01.29/Asia shares turn cagey as rate hikes, earnings loom.txt b/news/GOOG/2023.01.29/Asia shares turn cagey as rate hikes, earnings loom.txt new file mode 100644 index 0000000000000000000000000000000000000000..6e47c43e350a14682c1c2592df9b091df1e87756 --- /dev/null +++ b/news/GOOG/2023.01.29/Asia shares turn cagey as rate hikes, earnings loom.txt @@ -0,0 +1,53 @@ +*Asian stock markets: https://tmsnrt.rs/2zpUAr4*Fed seen hiking 25bp this week, ECB and BOE by 50bp*Tech giants lead host of earnings results*China shares up as holiday travel surgesSYDNEY, Jan 30 (Reuters) - Asian shares turned cagey on +Monday ahead of a week that is certain to see interest rates +rise in Europe and the United States, along with U.S. jobs and +wage data that may influence how much further they still have to +go.Earnings from a who's who of tech giants will also test the +mettle of Wall Street bulls, who are looking to propel the +Nasdaq to its best January since 2001.Asia has been no slouch either as China's swift reopening +bolsters the economic outlook, with MSCI's broadest index of +Asia-Pacific shares outside Japan up 11% in +January so far at a nine-month high.The index was off 0.2% on Monday with markets mixed across +the region. Japan's Nikkei went flat, while Taiwan +jumped 3.1%.The Nikkei newspaper reported Renault was to lower +its share holding in Nissan to 15%, while the latter +would invest in Renault's EV business.Chinese blue chips climbed 1.1% after returning +from the holidays. Beijing reported Lunar New Year travel trips +inside China surged 74% from last year, though that was still +only half of pre-pandemic levels.S&P 500 futures and Nasdaq futures both eased +0.3%, while EUROSTOXX 50 futures and FTSE futures +dipped 0.2%.Investors are confident the Federal Reserve will raise rates +by 25 basis points on Wednesday, followed the day after by +half-point hikes from the Bank of England and European Central +Bank, and any deviation from that script would be a real shock.Just as important will be the guidance on future policy with +analysts expecting a hawkish message of inflation is not yet +beaten and more needs to be done."With U.S. labor markets still tight, core inflation +elevated, and financial conditions easing, Fed Chair Powell's +tone will be hawkish, stressing that a downshifting to a 25bp +hike doesn't mean a pause is coming," said Bruce Kasman, chief +economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against +market pricing of rate cuts later this year."There is a lot of pushing to do given futures +currently have rates peaking at 5.0% in March, only to fall back +to 4.5% by year end.EYEING APPLEYields on 10-year notes have fallen 33 basis +points so far this month to 3.50%, essentially easing financial +conditions even as the Fed talks tough on tightening.That dovish outlook will also be tested by data on U.S. +payrolls, the employment cost index and various ISM surveys.Figures on EU inflation could be important for whether the +ECB signals a half-point rate rise for March, or opens the door +to slowdown in the pace of tightening.As for Wall Street's recent rally, much will depend on +earnings from Apple Inc, Amazon.com, Alphabet +Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for +consumers globally and a snapshot of the China supply chain +issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe +iPhone 14 Pro demand is holding up firmer than expected," they +added. "Apple will likely cut some costs around the edges, but +we do not expect mass layoffs."Market pricing of early Fed easing has been a burden for the +dollar, which has lost 1.6% so far this month to stand at +101.790 against a basket of major currencies.The euro is up 1.5% for January at $1.0878 and +just off a nine-month top. The dollar has even lost 1.3% on the +yen to 129.27 despite the Bank of Japan's dogged +defence of its uber-easy policies.The drop in the dollar and yields has been a boon for gold, +which is up 5.8% for the month so far at $1,930 an ounce.China's rapid reopening is seen as a windfall for +commodities in general, supporting everything from copper to +iron ore to oil prices.The oil market was hesitant on Monday, with Brent +off 11 cents at $86.55 a barrel, while U.S. crude eased 3 +cents to $79.65.(Reporting by Wayne Cole; Editing by Christopher Cushing) \ No newline at end of file diff --git a/news/GOOG/2023.01.29/China's Baidu to launch ChatGPT-style bot in March - source.txt b/news/GOOG/2023.01.29/China's Baidu to launch ChatGPT-style bot in March - source.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d50bfa0dfa9ceb7693bc84e182eb24e3f58fc4e --- /dev/null +++ b/news/GOOG/2023.01.29/China's Baidu to launch ChatGPT-style bot in March - source.txt @@ -0,0 +1 @@ +Baidu plans to debut the application by initially embedding it into its main search services, Bloomberg News reported earlier.ChatGPT's tech works by learning from vast amounts of data how to answer any prompt by a user in a human-like way, offering the information like a search engine would or prose like an aspiring novelist.Microsoft Corp has a $1 billion investment in San Francisco-based OpenAI that it has looked at increasing, Reuters has reported. The company has also worked to add OpenAI's image-generation software to its Bing search engine in a new challenge to Alphabet Inc's Google. (Reporting by Yingzhi Yang and Jyoti Narayan; Editing by Dhanya Ann Thoppil) \ No newline at end of file diff --git a/news/GOOG/2023.01.29/Japan's Nikkei tracks Wall Street higher, U.S. events in focus.txt b/news/GOOG/2023.01.29/Japan's Nikkei tracks Wall Street higher, U.S. events in focus.txt new file mode 100644 index 0000000000000000000000000000000000000000..18392d59da98f4c577842d6ed901d3ae34aaa7ea --- /dev/null +++ b/news/GOOG/2023.01.29/Japan's Nikkei tracks Wall Street higher, U.S. events in focus.txt @@ -0,0 +1,27 @@ +TOKYO, Jan 30 (Reuters) - Japan's Nikkei index rose on +Monday, tracking Wall Street's climb in the previous session, +although the gains were capped by caution ahead of the Federal +Reserve's meeting and domestic corporate earnings announcements.The Nikkei share average was up 0.33% at 27,473.75 +by the midday break, while the broader Topix inched +0.14% higher at 1,985.42.The week is filled with market-moving cues, so investors are +being more cautious, said Shigetoshi Kamada, general manager at +the research department at Tachibana Securities."I am unsure if this (upbeat) momentum will continue this +week. Investors are cautious and could sell stocks to book +profits ahead of the Fed meeting, U.S. employment data as well +as domestic corporate results."Wall Street rose on Friday, marking the end of a rocky week +in which economic data and corporate earnings guidance hinted at +softening demand but also economic resiliency ahead of the U.S. +Federal Open Market Committee (FOMC) this week.A string of high profile earnings reports are on tap +globally, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Investors are also reacting to Japanese corporate outlook as +the earnings season reaches its peak this week.Fanuc jumped 4.25% after the robot maker raised its +annual operating profit outlook and announced a 5-for-1 stock +split.Shin-Etsu Chemical, up 4.48%, posted a fourth +straight session of gains as the silicon wafter maker raised its +annual operating profit outlook.Japanese semiconductor equipment makers showed muted +reaction to news that Washington had made progress towards a +deal to curb exports of some advanced chip-making equipment to +China with several governments.Tokyo Electron rose 0.54% and Advantest +inched up 0.21%, while Nikon rose 0.48%. +(Reporting by Junko Fujita; editing by Uttaresh.V) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/'They fire, we hire' - Germany seizes on Silicon Valley's woes.txt b/news/GOOG/2023.01.30/'They fire, we hire' - Germany seizes on Silicon Valley's woes.txt new file mode 100644 index 0000000000000000000000000000000000000000..0662de2ce765af8a9a9eed06d9f2df8acfbe058f --- /dev/null +++ b/news/GOOG/2023.01.30/'They fire, we hire' - Germany seizes on Silicon Valley's woes.txt @@ -0,0 +1 @@ +The U.S. West Coast has always been the main destination for ambitious software engineers looking to work in the best-paid, most elite corner of their profession, but the mass redundancies have created a pool of jobseekers that Germany is eager to tap."They fire, we hire," said Rainer Zugehoer, Chief People Officer at Cariad, the software subsidiary of automaker Volkswagen. "We have several hundred open positions in the U.S., in Europe and in China."Spooked by inflation and the prospect of recession, Google parent Alphabet, Microsoft and Facebook owner Meta have announced a combined almost 40,000 job cuts.While Germany is also teetering on the edge of recession, its companies have grown more slowly in recent years and, in a country notorious for still handling business by fax, there are huge technology leaps to be made.Germany, with one of the world's oldest populations, has gaping holes in its labour force: according to IT industry group Bitkom, 137,000 IT jobs are unfilled.The government is simplifying immigration rules and dangling the prospect of easily-acquired citizenship to tempt skilled would-be immigrants, and regional authorities are pressing ahead."I would like to cordially invite you to move to Bavaria," wrote Judith Gerlach, digitalisation minister in Germany's wealthiest region on LinkedIn in a post addressed to the recently laid off.Especially with the euro at dollar parity, few European companies pay rates that compete with the hundreds of thousands of dollars on offer at California's most successful companies, but some hope cheaper healthcare and lower costs compared to hotspots like San Francisco can help."And did I mention Oktoberfest?" Gerlach added, adding Munich's famed beer festival to the strong labour protections that might prove attractive to the newly jobless.Some are sceptical, with Bitkom's Bernhard Rohleder noting that Germany is competing not just with other countries for the most talented, but with potential recruits' home countries too.Germany's penchant for red tape could be another challenge: companies are already reporting months-long delays in securing appointments for their new hires to get work permits."Bureaucracy in Germany is utterly crippling for most highly-qualified workers when they first encounter it, especially if they don't speak German," said Diana Stoleru of Berlin startup Lendis. (Writing by Thomas Escritt; Editing by Mark Potter)By Rene Wagner and Jan Schwartz \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Analysis-Renault cedes power at Nissan for uncertain benefits.txt b/news/GOOG/2023.01.30/Analysis-Renault cedes power at Nissan for uncertain benefits.txt new file mode 100644 index 0000000000000000000000000000000000000000..a3e92836c64e781473713bdbc631f59ad11b3300 --- /dev/null +++ b/news/GOOG/2023.01.30/Analysis-Renault cedes power at Nissan for uncertain benefits.txt @@ -0,0 +1 @@ +The deal, months in the making and still subject to board approvals, will see Renault reduce its stake in Nissan to 15% from around 43%.For Nissan, the advantages are clear: the Japanese carmaker gets much freer rein to do what it wants, and it is no longer in an alliance of unequal partners as capital ownership is rebalanced. That said, its stock could be weighed down as the bulk of Renault's current stake - worth some 3.8 billion euros ($4.1 billion) and moved to a trust - is sold off. The deal sees Nissan commit to invest in Renault's flagship Ampere electric vehicle unit, which was the French group's key goal.But Nissan's participation in Ampere is fairly conditional, joint projects at this stage are vague, and the Japanese carmaker acquiring voting rights on its 15% stake in Renault - something it didn't have before - means the French group will have to share decision-making more.Sources have told Reuters the alliance is considering around five common projects, a relatively small number compared to the list of 10 to 15 proposed last year by Renault chief executive Luca de Meo to his Japanese partner."Beyond the financial aspect, there is currently not much concrete on the benefits of the deal for Renault," one of the sources said, speaking on condition of anonymity due to the sensitivity of the matter."It is interesting for Renault to see Nissan enter Ampere, if only for financing projects. It is also interesting to see the focus on Latin America and India, again for scale effect. But no figures are given, it remains very vague." Shares in Renault dropped after the deal was announced.Gregoire Laverne of Cesga asset management, a Renault shareholder, said the market needed to know more. "And in a way it (the deal) marks the failure of the first version of the alliance," he said.More details will be unveiled in London on Feb. 6, sources close to the matter said.'CONDITIONAL'The Renault-Nissan alliance, which also includes junior partner Mitsubishi Motors Corp, was deeply strained by the 2018 ouster of its architect and former chairman, Carlos Ghosn, amid financial scandal. Ghosn has denied wrongdoing. The real test of the new deal, the sources said, will be Ampere.An early mover in electric cars, Renault has fallen behind newer, more agile rivals such as Tesla.It is counting on Ampere, which it will separate from its traditional internal combustion engine business and list on the stock market for a valuation of as much as 10 billion euros, to present itself as a pure electric player and get back into the race."If Nissan puts money and resources into engineering - technologies and teams - that would be a pretty good sign, the alliance will at least partially continue, but for now it's only conditional," a second industry source said. The operational projects to relaunch the partnership were barely sketched out on Monday. The companies highlighted Latin America, India and Europe - where they already have factories and joint production - as areas where they were considering projects related to markets, vehicles and technologies. "With Nissan recovering its voting rights at Renault, it means that the alliance is now strictly limited to the goodwill of the Japanese side," the second source said.Analysts seeking less complexity from Renault were disappointed in November when de Meo said he would split the French carmaker into five autonomous businesses. And Renault has announced plans to strengthen ties with China's Geely Automobile Holdings, which will take a big stake in Renault's combustion engine unit, Qualcomm and Google.Nissan, which sources have said is wary of sharing its technology with too many outsiders, may find the new set-up too much of an open relationship. After rising more than 20% since the start of the year, Renault's shares were down over 3% in afternoon trading. Ion-Marc Valahu at Clairinvest, also a Renault shareholder, said that "had to do with the fact that Renault did not give an update on their when will they sell their stake (in Nissan) and how the different divisions within Renault will be implemented."($1 = 0.9185 euros) (Reporting by Gilles Guillaume; Writing by Ingrid Melander; Editing by Silvia Aloisi and Mark Potter)By Gilles Guillaume \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Asian stocks slip as investors eye central bank hikes.txt b/news/GOOG/2023.01.30/Asian stocks slip as investors eye central bank hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..8a07647ecf4e9245d7559e0d7c0bb6d1675c779f --- /dev/null +++ b/news/GOOG/2023.01.30/Asian stocks slip as investors eye central bank hikes.txt @@ -0,0 +1 @@ +Investors broadly expect the U.S. Federal Reserve will raise interest rates by 25 basis points (bps) on Wednesday. Rate announcements are due on Thursday from both the Bank of England and the European Central Bank - and both are expected to hike rates by 50 bps.Meanwhile, more than 100 S&P 500 companies including Apple, Amazon.com and Google parent Alphabet are expected to report results this week, which also will see the publication of closely watched U.S. employment numbers."It's a big week for both central banks and U.S. equities, with ... some of the household names due to make earnings announcements that will provide a micro overview of the macro economy," ANZ analysts said in a note."We expect a 25 bps (U.S.) rate rise and anticipate that the Fed will caution against an early pause in the tightening cycle ... Risk appetite could be vulnerable to a correction."Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1%. U.S. stock futures, the S&P 500 e-minis, rose 0.1%. Japan's Nikkei stock index slid 0.1% while Australian shares were up 0.2%. China's blue-chip CSI300 index remained flat in early trade. Hong Kong's Hang Seng index opened up 0.4%.On Monday, U.S. stocks lost ground with the major indexes sinking, weighed down by declines in technology and other giant corporations' shares. The Dow Jones Industrial Average fell 0.8% to 33,717.09, the S&P 500 lost 1.3% to 4,017.77 and the Nasdaq Composite dropped 2.0% to 11,393.81.Despite Monday's declines, the S&P 500 remained on track to post its biggest January gain since 2019.At the end of the Fed's two-day policy meeting on Wednesday investors will be glued to Chair Jerome Powell's news conference for clues on whether the rate-hiking cycle may be coming to a close, and for signs of how long rates could stay elevated. Markets will also grapple with a flood of U.S. economic data, culminating in Friday's payrolls report for January. Investors see signs of weakening in the labour market as a key factor in bringing down high inflation. U.S. Treasury yields remained firm ahead of the central bank meetings and economic data, with the yield on benchmark 10-year Treasury notes US10YT=RR standing at 3.5384% compared with its U.S. close of 3.551% on Monday. The two-year yield, which rises with traders' expectations of higher Fed fund rates, touched 4.2402% compared with a U.S. close of 4.261%. In currencies, the U.S. dollar, which was poised for its fourth month of declines, was down at 102.19 against a basket of other major currencies. The European single currency was up 0.1% on the day at $1.0852, having gained 1.4% in a month.In the energy market, oil prices fell on Monday ahead of the expected hikes by central banks and signals of strong Russian exports. U.S. crude ticked up 0.2% to $78.02 a barrel while Brent crude settled at $84.9 per barrel early in the Asia session. Gold was slightly higher. Spot gold was traded at $1922.91 per ounce. [GOL/] (Editing by Kenneth Maxwell)By Julie Zhu \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Copper under pressure, China demand worry dominates mood.txt b/news/GOOG/2023.01.30/Copper under pressure, China demand worry dominates mood.txt new file mode 100644 index 0000000000000000000000000000000000000000..c7b59a4b8e170c902094ec118f64b59b91f19b6b --- /dev/null +++ b/news/GOOG/2023.01.30/Copper under pressure, China demand worry dominates mood.txt @@ -0,0 +1,32 @@ +LONDON, Jan 30 (Reuters) - Copper prices dropped on +Monday as worries about the outlook for demand in top consumer +China dominated sentiment ahead of data from the country's +manufacturing sector, while a softer dollar provided some +support.Benchmark copper on the London Metal Exchange was +down 0.7% at $9,197 a tonne at 1702 GMT. It hit a seven-month +high earlier this month as speculators piled in after China +removed its COVID-19 restrictions."Production of metal/copper containing goods in China, +things like cars and washing machines, rose significantly last +year. They don't need to be produced this year even if shoppers +return," said Julius Baer analyst Carsten Menke.Neither does Menke expect any boost to metals demand from +the property sector. "China's population is shrinking, demand +for property is declining structurally, why would the government +use property to stimulate growth?"Clues to demand prospects will come from surveys of +purchasing managers in China's manufacturing sector this week.A lower U.S. currency makes dollar-priced metals cheaper for +holders of other currencies, which could boost demand.The future direction of interest and currency rates could be +determined by earnings reports from Apple, Alphabet +and Amazon and a meeting of the Federal +Reserve this week."We have long argued that the Fed will need to take a rate +pause at some point, but we think it will not do so at this +particular meeting," Edward Meir, analyst at ED&F Man Capital +Markets, said.Technical support for copper is around $9,025 where a +Fibonacci retracement level and the 21-day moving average meet.Meanwhile, the zinc market is focused on dwindling stocks in +LME approved warehouses , which at 17,425 tonnes are +at their lowest since 1989 and large holdings of zinc warrants +and cash contracts <0#LME-WHC>.Concern about availability on the LME has created a premium +or backwardation for the cash over the three-month zinc +contracts , which was last trading at $26 a tonne.Three-month zinc was up 0.7% at $3,438 a tonne.In other metals, aluminium was down 1.5% at $2,588 a +tonne, lead fell 1.7% to $2,145, tin ceded 3.6% +to $29,740 and nickel was up 1.5% at $29,350. +(Reporting by Pratima Desai; editing by Kirsten Donovan and +Barbara Lewis) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/It's all about central banks this week.txt b/news/GOOG/2023.01.30/It's all about central banks this week.txt new file mode 100644 index 0000000000000000000000000000000000000000..b0c68f0a516bf423e0dee1534c18d36768253e7f --- /dev/null +++ b/news/GOOG/2023.01.30/It's all about central banks this week.txt @@ -0,0 +1,38 @@ + +I think it's safe to say that the Fed's decision on Wednesday will be this week's focus. For the new readers or listeners among you, I will explain why. This is because investors generally try to anticipate what is going to happen in the foreseeable future to optimize their asset allocations. For example, investing in companies that have strong earnings or low debt when the economic outlook deteriorates. Or investing in cyclical companies whose earnings are soaring when the economy is about to rebound. There are many classic patterns of this type in finance. + +Since the financial crisis of 2008, central banks have taken control of economic destinies by drowning fears of financial collapse in new money. They have accustomed investors to evolving in a world of abundant liquidity. As a result, these investors have taken increasingly risky bets. Yes, when money flows freely, it can irrigate areas where investors would not even dream of going under normal conditions. Speculative bubbles are formed. Some of them burst in 2022, notably because central banks were forced to reduce access to free money for fear of an inflationary spiral. To do so, they unraveled their asset purchase programs while raising their key rates. Investors then drastically reduced their riskiest bets: goodbye SPAC, meme-shares, companies without business models, crazy crypto-currencies, etc. Currently, the market is watching for the moment when central banks (and when I say central banks, it's mostly the Fed) will stop raising rates. Because that means two things: one, that the economic situation has stabilized. On the other hand, it means that the time when rates will come down again is approaching. In other words, a new growth cycle could appear and money will be cheaper. Hence the return of risk appetite. +This is more or less the situation now. And investors are looking to get two steps ahead. They know that the Fed is going to raise rates again, probably twice by the end of spring, but they are already gambling on the upturn that they hope will follow. To avoid missing the bandwagon, they're getting on the bandwagon early, if you will. On Wednesday, the Fed will likely announce another rate hike, but limited to the bare minimum, 25 basis points. Will it try to cool the market's ardor? This is the real unknown of the week. +Because January saw buyers return to the stock market in droves. In particular on cyclical or slightly daring bets. The taste for risk can be seen in the index charts: the MSCI China, the Hang Seng and the Argentine Merval rose by more than 14% in January. The Nasdaq, which was crushed in 2022, has recovered 11% in one month. Many markets have gained 9 to 10% since January 1, which is exceptional: Paris, Madrid and Seoul in particular. Last week, American indices were at their best, while Europe, which had made a better start in 2023, made only modest progress. +The week will be marked by the monetary policy decisions of three central banks. The Fed on Wednesday, then the European Central Bank and the Bank of England on Thursday. There will also be the earnings reports of some 40 companies worth more than $100 billion on the agenda this week. In the United States, Apple, Alphabet and Amazon on the evening of February 2. In Europe, Novo Nordisk, Novartis, Roche, Shell and Sanofi among others. But they are not the only ones and a few hundred smaller companies are also scheduled. +To end this column, I will mention a few important developments over the weekend: The United States, Japan and the Netherlands have reached an agreement to limit China's access to certain key semiconductor technologies. On a related topic, the Wall Street Journal revealed that China's main military nuclear lab continued to use advanced U.S. chips despite the 1997 embargo. Meanwhile, House Speaker Kevin McCarthy announced that he would meet with Speaker Joe Biden on Wednesday to discuss raising the federal debt ceiling. +Mainland Chinese equity markets reopened this morning after a week-long break for the Lunar New Year. +This morning, U.S. futures were all down, with the Nasdaq 100 losing 1.2% due to a fall in growth stocks ahead of central banks decisions. +  +Economic highlights of the day: +There aren't any important indicators today in the US. +The dollar is down 0.2% against the euro to EUR 0.9179 and is stable against the pound at GBP 0.8070. The ounce of gold is trading at USD 1925. Oil is losing ground, with North Sea Brent crude at USD 86.4 per barrel and US light crude WTI at USD 79.78. The yield on 10-year US debt is stagnant at 3.50%. Bitcoin is down to USD 23,000. +  +In corporate news: +* Apple, Amazon and Alphabet, which are due to report their fourth quarter results this week, are each down about 1.5% in premarket trading. +* Wall Street-listed Chinese companies Alibaba, Bilibili, Pinduoduo and JD.Com are down 4 percent to 7.5 percent in premarket trading after Mike McCaul, the new chairman of the U.S. House of Representatives' Foreign Affairs Committee, said Sunday that the risks of a conflict with China over Taiwan are "very high". +* Goldman Sachs Group has restructured its assets in Russia, which could pave the way for a full exit from the country, RBC reported Monday, citing two investment market sources. +* Biogen and Eisai announced in a joint statement that the Japanese Ministry of Health has granted priority review status to the two companies' Alzheimer's disease treatment lecanemab. +* Boeing - The U.S. aircraft manufacturer will deliver on Tuesday to Atlas Air the last Boeing 747, a twin-aisle aircraft designed in the late 1960s to meet the demand for mass travel and which will be discontinued. +  +Analyst recommendations: + +Axalta: Citi raised the recommendation to buy from neutral. PT up 20% to $35.19. +Eastman Chemical: Vertical Research Partners downgrades to hold from buy. PT up 6% to $92. +Federal Realty: Compass Point Research & Trading raised its recommendation to buy from neutral. PT up 12% to $125. +HCA Healthcare: Truist Securities raises price target to $290 from $270. Maintains buy rating. +Kohl's: Goldman Sachs reinstated coverage with a recommendation of sell. PT down 14% to $27. +Lockheed Martin: DZ Bank AG upgrades to buy from hold. PT up 14% to $523. +Macy's: Goldman Sachs reinstated coverage with a recommendation of buy. PT up 21% from last price to $28. +Nordstrom: Goldman Sachs reinstated coverage with a recommendation of neutral. PT up 8.6%  from last price to $20. +Regeneron: Cowen upgrades to outperform from market perform. PT jumps 18% to $875. +Rentokil: Numis moves from accumulate to hold targeting GBp 470. +Tanger: Compass Point Research & Trading LLC downgrades to neutral from buy. PT up 9% to $21. +Tesla: Berenberg upgrades to buy from hold. PT up 12% to $200. +Uber: MoffettNathanson initiated coverage with a recommendation of outperform. PT set to $47. + diff --git a/news/GOOG/2023.01.30/Japan's Nikkei tracks Wall Street gains to end at over 1-month high.txt b/news/GOOG/2023.01.30/Japan's Nikkei tracks Wall Street gains to end at over 1-month high.txt new file mode 100644 index 0000000000000000000000000000000000000000..98928ea4869e92300340681b4aa7c3a4b46bad8b --- /dev/null +++ b/news/GOOG/2023.01.30/Japan's Nikkei tracks Wall Street gains to end at over 1-month high.txt @@ -0,0 +1,30 @@ +TOKYO, Jan 30 (Reuters) - Japan's Nikkei index ended at +a more than one-month high on Monday, tracking Wall Street gains +in the last session, although the gains were capped by caution +ahead of the U.S. Federal Reserve's meeting and domestic +corporate earnings announcements.The Nikkei share average gained 0.19% to close at +27,433.40, its highest close since Dec. 16, after briefly +slipping in the negative territory. The broader Topix +was marginally down 0.01% at 1,982.40.The week is filled with market-moving events, so investors +are being more cautious, said Shigetoshi Kamada, general manager +at the research department at Tachibana Securities."I am unsure if this (upbeat) momentum will continue this +week. Investors are cautious and could sell stocks to book +profits ahead of the Fed meeting, U.S. employment data as well +as domestic corporate results."Wall Street rose on Friday, marking the end of a rocky week +in which economic data and corporate earnings guidance hinted at +softening demand but also economic resiliency ahead of the U.S. +Federal Open Market Committee this week.A string of high profile earnings reports are on tap +globally, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Investors are also reacting to Japan's corporate outlook, as +the earnings season reaches its peak this week.Fanuc jumped 3.58% after the robot maker raised its +annual operating profit outlook and announced a 5-for-1 stock +split.Shin-Etsu Chemical, up 5.08%, posted a fourth +straight session of gains as the silicon wafter maker raised its +annual operating profit outlook.Japanese semiconductor equipment makers showed muted +reaction to news that Washington had made progress towards a +deal to curb exports of some advanced chip-making equipment to +China with several governments.Tokyo Electron rose 0.68% and Advantest +lost 0.32%, while Nikon inched up 0.16%. +(Reporting by Junko Fujita; editing by Uttaresh.V and Rashmi +Aich) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Marketmind: Fasten your seatbelts.txt b/news/GOOG/2023.01.30/Marketmind: Fasten your seatbelts.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9dd4596c217f7493ad88980bc3edf3e5766280e --- /dev/null +++ b/news/GOOG/2023.01.30/Marketmind: Fasten your seatbelts.txt @@ -0,0 +1 @@ +Wall Street's downbeat start to an action-packed week has set a bumpy course for Asian markets on Tuesday.U.S. stocks appeared to take a breather near the end of a month of solid gains, dipping into red as market participants gird their loins for multiple central bank policy decisions and a spate of high profile megacap earnings, with the Labor Department's hotly anticipated January employment report due on Friday.The Federal Reserve convenes its two-day monetary policy meeting on Tuesday, which is expected to culminate on Wednesday with a bite-sized 25 basis point hike to the Fed funds target rate.The Bank of England and the European Central Bank are poised to follow the Fed by hiking crucial interest rates by a more aggressive 50 basis points.On the earnings front, Caterpillar Inc, General Motors Co, Pfizer Inc, United Parcel Service Inc and McDonald's Corp are expected before Tuesday's opening bell.Meta Platforms Inc waits in the wings on Wednesday, with Apple Inc, Amazon.com and Alphabet Inc on deck for Thursday.Those earnings calls, along with Fed Chairman Jerome Powell's post-rate-decision remarks, will be parsed and scrutinized by investors for clues regarding the likelihood, severity and timing of a potential recession.Elsewhere, the U.S. dollar gained ground against a basket of world currencies, crude prices plunged as the prospect of rate hikes and robust Russian exports dampened optimism over rebounding Chinese demand. Speaking of which, the world's second-largest economy's fiscal revenue growth decelerated sharply in 2022 to 0.6% from 10.7% in 2021, largely due to Beijing's strict COVID-19 policies.Those policies have since been relaxed, sparking hopes of demand revival in China, which could take some of the sting of restrictive central bank policy. Here are some key developments that could provide more direction to markets on Tuesday:- South Korea and Japan are expected to post December industrial output and retail sales data- China due to release manufacturing and composite PMI reports for January- U.S. will follow Case-Shiller home prices (November), consumer confidence (January) and Chicago PMI (January) (Reporting by Stephen Culp; Editing by Josie Kao)By Stephen Culp \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Marketmind: This might hurt.txt b/news/GOOG/2023.01.30/Marketmind: This might hurt.txt new file mode 100644 index 0000000000000000000000000000000000000000..b4057241bd779c3b5d02b8a8db38f70e32541476 --- /dev/null +++ b/news/GOOG/2023.01.30/Marketmind: This might hurt.txt @@ -0,0 +1 @@ +This week promises to be one of the most action-packed in a while. Three of the world's most influential central banks are likely to raise rates to their highest since the financial crisis, while Q4 earnings season is starting to gather pace.Big Tech royalty in the form of Apple, Alphabet and Amazon deliver earnings. With the tech sector bleeding profitability and jobs, whatever these three say on that front could carry almost as much weight as whatever the Federal Reserve says when it pronounces on the economic outlook on Wednesday.With 109 of the S&P's 500 components set to report in the coming five days alone, investors are going to get a non-stop barrage of hot takes on anything from inflation to the impact of the gyrations of the dollar, to China and beyond.The euphoria that marked the end of 2022, fed by China dismantling its COVID restrictions and more benign energy prices, has carried through this month, despite a decidedly gloomy earnings season and an insistence among central bankers that high inflation isn't going anywhere any time soon.The S&P itself is heading for a 6.1% rise this month - which would mark its best January since 2019. The first month of the year tends to be one of the strongest anyway, according to Refinitiv data.In the last 94 years, the S&P has risen by 1.2% on average in January, compared with an average rise of 1.3% in December, the month with the highest returns.One of the major boosts that the stock market has enjoyed this January has been the seemingly cast-iron conviction among traders and investors that the Fed, while not bluffing exactly, won't raise rates as much as policymakers say they will, and that inflation won't prove nearly as sticky.This has translated into a near 30 basis-point drop in 10-year Treasury yields and the S&P hasn't got as much bang for its buck in the month of January from a drop in yields like this in recent memory.Even in strong Januarys, such as that of 2019, when the index rose by 7%, 10-year yields fell only 6 bps. In January 1987, when the index rose 13%, yields fell just 6 bps.With so much riding on the Fed being wrong and the markets being right about the outlook for monetary policy, there would appear to be a lot more scope than usual for equity bulls to get a smack in the face from anything that might force a rethink on where U.S. rates might peak. Key developments that should provide more direction to markets on Monday: - Dallas Fed Manufacturing Business Index January -18.8 prior- Dallas Fed PCE 3.4% prior- German economy unexpectedly shrinks in Q4 (Reporting by Amanda Cooper; Editing by Hugh Lawson) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus.txt b/news/GOOG/2023.01.30/Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus.txt new file mode 100644 index 0000000000000000000000000000000000000000..0ab02216967df8173e8070c4fbe3ef229b56f935 --- /dev/null +++ b/news/GOOG/2023.01.30/Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Meta, Alphabet, Amazon.com slide ahead of earnings*Fed decision on interest rates on Wednesday*Indexes down: Nasdaq 1.29%, S&P 0.74%, Dow 0.23%Jan 30 (Reuters) - The tech-focused Nasdaq fell more +than 1% on Monday as megacap growth stocks including Apple, +Amazon and Alphabet fell ahead of their earnings reports this +week, while investors awaited the U.S. Federal Reserve's +rate-setting meeting.The central bank is seen hiking the Fed funds rate by 25 +basis points (bps) at the end of its two-day policy meeting on +Wednesday, followed by Fed Chair Jerome Powell's speech, which +will be scrutinized for any signs of further increases."How strong of a language he (Powell) uses is what it's +going to come down to," said Andre Bakhos, president at Ingenium +Analytics LLC in Bernardsville, New Jersey.This will likely be the smallest rate increase since the +Fed kicked off its tightening cycle 10 months ago with a 25 bps +hike, with financial markets pricing in a final rate hike in +March.Money markets now see rates peaking at 4.9% in June, still +below the 5% level expected by Fed policymakers.After a slew of layoffs by large-cap tech and financial +firms through the month, investors will now keep an eye on the +Labor Department's January nonfarm payrolls data expected on +Friday.A total of 107 S&P 500 firms are expected to report +quarterly results in the busiest week of the earnings season, +including heavyweight growth companies Apple Inc, +Amazon.com Inc, Alphabet Inc and Meta +Platforms Inc, each down between 1% to 2%.Analysts expect S&P 500 earnings for the fourth quarter to +decline 3%, compared with a 1.6% drop expected at the beginning +of the year, according to Refinitiv data.Wall Street is expected to end the month higher, with the +Nasdaq and the S&P 500 Growth index recouping +more than half their monthly losses from December. The S&P 500 +index is set for the best start to the year since 2019.Tighter monetary policies have stood in the way of growth +firms expanding their businesses, which have also been pressured +for much of last year by high Treasury yields.Bakhos said that the decline in growth stocks on Monday +could be due to some profit-taking, noting that earnings from +these companies could be less dire than what most expect.The European Central Bank and the Bank of England are also +seen raising interest rates later in the week.At 12:31 p.m. ET, the Dow Jones Industrial Average +was down 79.27 points, or 0.23%, at 33,898.81, the S&P +500 was down 30.03 points, or 0.74%, at 4,040.53, and the +Nasdaq Composite was down 149.66 points, or 1.29%, at +11,472.05.Johnson & Johnson slipped 3% on the dismissal of a +bankruptcy petition filed by its LTL Management unit by the 3rd +U.S. Circuit Court of Appeals.American Express Co rose 2.7% after several +brokerages raised price targets on the stock on its strong +full-year forecast.Declining issues outnumbered advancers for a 1.70-to-1 ratio +on the NYSE and for a 1.66-to-1 ratio on the Nasdaq.The S&P index recorded five new 52-week highs and no new +lows, while the Nasdaq recorded 46 new highs and 13 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Nasdaq leads drop in futures ahead of Fed rate decision.txt b/news/GOOG/2023.01.30/Nasdaq leads drop in futures ahead of Fed rate decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..705171f0edf678ebe1d1414f5a7f56cfb7e8b6e2 --- /dev/null +++ b/news/GOOG/2023.01.30/Nasdaq leads drop in futures ahead of Fed rate decision.txt @@ -0,0 +1 @@ +The U.S. Federal Reserve is seen hiking the Fed funds rate by 25 basis points (bps) at the end of its two-day policy meeting on Wednesday, close on the heels of data showing signs of slowing demand and cooling inflation. "The interest rate snowball is gathering speed, and its squashing down demand in its path," Susannah Streeter, markets analyst at Hargreaves Lansdown wrote in a client note. "Although rate rises are causing the U.S. economy to slip up, hopes have come in flurries that it will still have a soft landing. But there is nervousness ahead of the crucial Fed meeting this week." This will likely be the smallest rate increase since the Fed kicked off its tightening cycle 10 months ago with a 25 bps hike, with financial markets pricing in a final rate hike in March. Money markets now see rates peaking at 4.9% in June, still below the 5% level expected by Fed policymakers. [FEDWATCH]Heavyweight growth stocks, including Apple Inc, Amazon.com Inc and Alphabet Inc, fell about 1.5% each in premarket trading. They will report quarterly earnings on Thursday, after the bell.The tech-heavy Nasdaq index notched its fourth straight weekly gain on Friday.At 6:25 a.m. ET, Dow e-minis were down 242 points, or 0.71%, S&P 500 e-minis were down 40.25 points, or 0.99%, and Nasdaq 100 e-minis were down 164 points, or 1.34%. Other major central banks including the European Central Bank and the Bank of England are also seen raising interest rates later in the week. (Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Shares and bonds nervy as rate-hike week looms.txt b/news/GOOG/2023.01.30/Shares and bonds nervy as rate-hike week looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..9386fd7552ac4f165d2eee10f810c1537bc23dc0 --- /dev/null +++ b/news/GOOG/2023.01.30/Shares and bonds nervy as rate-hike week looms.txt @@ -0,0 +1,59 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Technology giants lead host of earnings results*Shares edge down after robust January rallyLONDON, Jan 30 (Reuters) - Stock markets worldwide +halted their January rally on Monday, pausing for breath at the +start of an agenda-setting week of central bank rate hikes and +data releases that will clarify if progress has been made in the +battle against inflation.Investors expect the Federal Reserve will raise rates by 25 +basis points on Wednesday, followed the day after by half-point +hikes from the Bank of England and European Central Bank, and +any deviation from that script would be a real shock.Europe's benchmark STOXX index fell 0.8% on Monday morning, +echoing a slight dip in MSCI's broadest index of Asia-Pacific +shares outside Japan, which has surged 11% in +January so far as China's reopening bolsters sentiment.The U.S. Nasdaq index is likewise on course for its best +January since 2001, a rally that will be tested by earnings +updates from tech giants this week.U.S. stocks were set to follow the nervous Monday mood +with S&P 500 futures down 1% and Nasdaq futures +falling 1.3%, as investors await guidance later in the week on +the Federal Reserve's policy.Analysts expect a hawkish tone suggesting that more needs to +be done to tame inflation."With U.S. labour markets still tight, core inflation +elevated and financial conditions easing, Fed Chair Powell's +tone will be hawkish, stressing that a downshifting to a 25bp +hike doesn't mean a pause is coming," said Bruce Kasman, chief +economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against +market pricing of rate cuts later this year."There is a lot of pushing to do given futures +currently expect rates to peak at 5% in March and to fall back +to 4.5% by year end.Europe offered a brisk reminder that the fight against +rising prices is far from over, as bond yields in the region +rose sharply on Monday in the wake of stronger-than-expected +Spanish inflation data.The data showing inflation rose 5.8% year-on-year in +January, against expectations of 4.7%, pushed up the zone's +benchmark German 10-year government bond yield 7 +basis points (bps) to 2.3190%, its highest since Jan. 10.Italian and Spanish yields also inched up.The dollar index was flat ahead of the week's key +data, on course for a fourth straight monthly loss of more than +1.5% on growing expectations that the Fed is nearing the end of +its rate-hike cycle.APPLE'S COREYields on 10-year notes have fallen 33 basis +points so far this month to 3.50%, essentially due to easing +financial conditions even as the Fed talks tough on tightening.That dovish outlook will also be tested by data on U.S. +payrolls, the employment cost index and various ISM surveys.Reading on EU inflation could be important for whether the +ECB signals a half-point rate rise for March, or opens the door +to a slowdown in the pace of tightening.As for Wall Street's recent rally, much will depend on +earnings from Apple Inc, Amazon.com, Alphabet +Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for +consumers globally and a snapshot of the China supply chain +issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe +iPhone 14 Pro demand is holding up firmer than expected," they +added. "Apple will likely cut some costs around the edges, but +we do not expect mass layoffs."Market pricing of early Fed easing has been a burden for the +dollar, which has lost 1.6% so far this month to stand at +101.85 against a basket of major currencies.The euro is up 1.5% for January at $1.0878 and +just off a nine-month top. The dollar has even lost 1.3% on the +yen to 129.27 despite the Bank of Japan's dogged +defence of its ultra-easy policies.The drop in the dollar and yields has been a boon for gold, +which is up 5.8% for the month so far at $1,930 an ounce.The precious metal was flat on Monday ahead of the slew of +key central bank moves and data releases.China's rapid reopening is seen as a windfall for +commodities in general, supporting everything from copper to +iron ore to oil prices.Oil steadied on Monday after earlier losses, with prices +bolstered by rising Middle East tension over a drone attack in +Iran and hopes of higher Chinese demand.Brent crude rose 10 cents, or 0.12%, to $86.76 a +barrel by 1200 GMT while U.S. West Texas Intermediate crude +added 4 cents, or 0.05%, to $79.72.(Reporting Lawrence White and Wayne Cole; Editing by +Christopher Cushing, Arun Koyyur and Christina Fincher) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Shares shaky as rate-hike week looms.txt b/news/GOOG/2023.01.30/Shares shaky as rate-hike week looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..22ed10e695987b5c81bbe002cfc11eebffe862fd --- /dev/null +++ b/news/GOOG/2023.01.30/Shares shaky as rate-hike week looms.txt @@ -0,0 +1,52 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Technology giants lead host of earnings results*Shares edge down after roaring January rallySYDNEY/LONDON, Jan 30 (Reuters) - Shares slipped on +Monday at the start of an agenda-setting week for markets in +which likely interest rate hikes in Europe and the United +States, as well as U.S. jobs and wage data will give markets a +fresh update on the battle against inflation.Investors expect the Federal Reserve will raise rates by 25 +basis points on Wednesday, followed the day after by half-point +hikes from the Bank of England and European Central Bank, and +any deviation from that script would be a real shock.Earnings from tech giants will also test the mettle of Wall +Street bulls, who are looking to propel the Nasdaq to its best +January since 2001.Europe's benchmark STOXX index fell 0.5% on Monday morning, +echoing a slight dip in MSCI's broadest index of Asia-Pacific +shares outside Japan, which has surged 11% in +January so far as China's reopening bolsters its economy.Meanwhile, U.S. stocks were set to follow the nervous +Monday mood with S&P 500 futures and Nasdaq futures +down nearly 1%, as investors await guidance later in the +week on the Federal Reserve's policy.Analysts expect a hawkish tone suggesting that more needs to +be done to tame inflation."With U.S. labour markets still tight, core inflation +elevated and financial conditions easing, Fed Chair Powell's +tone will be hawkish, stressing that a downshifting to a 25bp +hike doesn't mean a pause is coming," said Bruce Kasman, chief +economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against +market pricing of rate cuts later this year."There is a lot of pushing to do given futures +currently expect rates to peak at 5% in March, only to fall back +to 4.5% by year end.The dollar index was flat ahead of the data, on +course for a fourth straight monthly loss of more than 1.5% on +growing expectations that the Fed is nearing the end of its +rate-hike cycle.APPLE'S COREYields on 10-year notes have fallen 33 basis +points so far this month to 3.50%, essentially due to easing +financial conditions even as the Fed talks tough on tightening.That dovish outlook will also be tested by data on U.S. +payrolls, the employment cost index and various ISM surveys.Reading on EU inflation could be important for whether the +ECB signals a half-point rate rise for March, or opens the door +to a slowdown in the pace of tightening.As for Wall Street's recent rally, much will depend on +earnings from Apple Inc, Amazon.com, Alphabet +Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for +consumers globally and a snapshot of the China supply chain +issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe +iPhone 14 Pro demand is holding up firmer than expected," they +added. "Apple will likely cut some costs around the edges, but +we do not expect mass layoffs."Market pricing of early Fed easing has been a burden for the +dollar, which has lost 1.6% so far this month to stand at +101.790 against a basket of major currencies.The euro is up 1.5% for January at $1.0878 and +just off a nine-month top. The dollar has even lost 1.3% on the +yen to 129.27 despite the Bank of Japan's dogged +defence of its ultra-easy policies.The drop in the dollar and yields has been a boon for gold, +which is up 5.8% for the month so far at $1,930 an ounce.The precious metal was flat on Monday ahead of the slew of +key central bank moves and data releases.China's rapid reopening is seen as a windfall for +commodities in general, supporting everything from copper to +iron ore to oil prices.The oil market was hesitant amid concerns the likely Fed +rate hikes could choke fuel demand, with Brent down +nearly 1% $85.88 a barrel, while U.S. crude eased 87 +cents to $78.8.(Reporting by Wayne Cole and Lawrence White; Editing by +Christopher Cushing and Arun Koyyur) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Stocks dip, U.S. yields rise ahead of central bank flurry.txt b/news/GOOG/2023.01.30/Stocks dip, U.S. yields rise ahead of central bank flurry.txt new file mode 100644 index 0000000000000000000000000000000000000000..739ebd4dd620682774ba3b788fbd07fb3695060a --- /dev/null +++ b/news/GOOG/2023.01.30/Stocks dip, U.S. yields rise ahead of central bank flurry.txt @@ -0,0 +1,51 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Megacap stocks lead earnings results this week*MSCI index on track for biggest January pct gain since +2019NEW YORK, Jan 30 (Reuters) - A gauge of global stocks +dipped on Monday after six sessions of gains while the yield on +the U.S. ten-year Treasury rose for a third day, ahead of +central bank policy announcements and data that may shed light +on whether progress has been made in bringing down inflation.Investors widely expect the Federal Reserve will raise rates +by 25 basis points (bps) on Wednesday, with announcements on +Thursday from the Bank of England and European Central Bank +(ECB), both of which are largely expected to hike by 50 bps."This is probably a week where we are going to have a year’s +worth of surprises possibly, so it makes sense to me there is a +little bit of profit taking, some positioning ahead of some very +important meetings but also data releases," said Brian Jacobsen, +senior investment strategist at Allspring Global Investments in +Menomonee Falls, Wisconsin."(The Fed) would rather err on the side of sounding too +hawkish but talk is cheap - they are at the point now with the +hiking cycle where what really matters is what the data says and +what the Fed delivers."The Dow Jones Industrial Average fell 89.41 points, +or 0.26%, to 33,888.67, the S&P 500 lost 36.23 points, or +0.89%, to 4,034.33 and the Nasdaq Composite dropped +200.13 points, or 1.72%, to 11,421.58.The rate increase expected at the Federal Open Market +Committee's Jan. 31-Feb. 1 meeting would bring the policy rate +to the 4.5%-4.75% range. That's two quarter-point rate hikes +short of the level most Fed policymakers in December thought +would be "sufficiently restrictive" to bring inflation under +control. But futures currently expect rates to peak at +about 4.9% in June before retreating to 4.5% by year-end.Markets will also grapple with a host of U.S. economic data, +culminating in Friday's payrolls report for January. Investors +see signs of weakening in the labor market as a key factor in +bringing down high inflation. Other data included gauges of the +manufacturing and services sectors.The U.S. corporate earnings season also remains in high +gear, with earnings this week expected from the likes of Apple +, Alphabet and Amazon. Earnings for +S&P 500 companies are expected to show a decline of 3% for the +quarter, per Refinitiv data, weaker than the 1.6% fall seen at +the start of the year.Stocks in Europe were also lower, with rate-sensitive names +such as technology shares among the primary decliners.The pan-European STOXX 600 index lost 0.30% and +MSCI's gauge of stocks across the globe shed +0.68%. MSCI's index was on track for its biggest January +percentage gain since 2019 while the STOXX 600 was poised for +its largest January percentage gain since 2015.U.S. Treasury yields rose ahead of the central bank meetings +and economic data, with the 10-year yield up for a third +consecutive session. Benchmark 10-year notes were up +2.4 basis points to 3.542%, from 3.518% late on Friday.The greenback, which was poised for its fourth month of +declines as expectation have increased the Fed was nearing the +end of its rate-hiking cycle, was up slightly.The dollar index rose 0.098%, with the euro up +0.08% to $1.0876.The Japanese yen weakened 0.34% versus the greenback to +130.31 per dollar, while Sterling was last trading at +$1.2379, down 0.15% on the day.Crude prices fell ahead of the expected hikes by central +banks and signals of strong Russian exports.U.S. crude was down 1.13% at $78.78 per barrel and +Brent was at $85.75, down 1.05% on the day.(Reporting by Chuck Mikolajczak +Editing by Bernadette Baum) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Stocks fall, U.S. yields climb as central bank hikes awaited.txt b/news/GOOG/2023.01.30/Stocks fall, U.S. yields climb as central bank hikes awaited.txt new file mode 100644 index 0000000000000000000000000000000000000000..b3d60ba350d49becaf4045b083054e6f6f1e34fd --- /dev/null +++ b/news/GOOG/2023.01.30/Stocks fall, U.S. yields climb as central bank hikes awaited.txt @@ -0,0 +1,56 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Megacap stocks lead earnings results this week*MSCI index on track for biggest January pct gain since +2019NEW YORK, Jan 30 (Reuters) - A gauge of global stocks +retreated on Monday after six sessions of gains while U.S. +Treasury yields rose ahead of central bank policy announcements +and data that may shed light on whether progress has been made +in bringing down inflation.Investors widely expect the Federal Reserve will raise rates +by 25 basis points (bps) on Wednesday, with announcements on +Thursday from the Bank of England and European Central Bank +(ECB), both of which are largely expected to hike by 50 bps."The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market," said Keith Lerner, co-chief +investment officer at Truist Advisory Services in Atlanta, +Georgia.On Wall Street, U.S. stocks slumped, with 10 of the 11 S&P +sectors closing lower, while Johnson & Johnson lost +3.70% after a U.S. court rejected the company's plan to offload +into bankruptcy tens of thousands of lawsuits over its talc +products.The Dow Jones Industrial Average fell 260.99 points, +or 0.77%, to 33,717.09, the S&P 500 lost 52.79 points, or +1.30%, to 4,017.77 and the Nasdaq Composite dropped +227.90 points, or 1.96%, to 11,393.81.The rate increase expected at the Federal Open Market +Committee's Jan. 31-Feb. 1 meeting would bring the policy rate +to the 4.5%-4.75% range. That's two quarter-point rate hikes +short of the level most Fed policymakers in December thought +would be "sufficiently restrictive" to bring inflation under +control. But futures currently expect rates to peak at +about 4.9% in June before retreating to 4.5% by year-end.Markets will also grapple with a host of U.S. economic data, +culminating in Friday's payrolls report for January. Investors +see signs of weakening in the labor market as a key factor in +bringing down high inflation. Other data included gauges of the +manufacturing and services sectors.The U.S. corporate earnings season also rolls on, with +earnings this week expected from Apple, Alphabet +and Amazon. Earnings for S&P 500 companies +are expected to show a decline of 3% for the quarter, according +to Refinitiv data, weaker than the 1.6% fall seen at the start +of the year.Stocks in Europe closed lower, with rate-sensitive names +such as technology shares among the primary decliners after +inflation data from Spain came in above expectations while other +data showed the German economy unexpectedly contracted in the +fourth quarter.The pan-European STOXX 600 index lost 0.17% and +MSCI's gauge of stocks across the globe shed +0.99%. MSCI's index was on track for its biggest January +percentage gain since 2019 while the STOXX 600 was poised for +its largest January percentage gain since 2015.U.S. Treasury yields rose ahead of the central bank meetings +and economic data, with the 10-year yield up for a third +consecutive session. Benchmark 10-year notes were up +2.6 basis points to 3.544%, from 3.518% late on Friday.The greenback, which was poised for its fourth month of +declines as expectation have increased the Fed was nearing the +end of its rate-hiking cycle, was up for a third straight +session against a basket of major currencies.The dollar index rose 0.334%, with the euro +down 0.17% to $1.0848.The Japanese yen weakened 0.42% versus the greenback to +130.40 per dollar, while Sterling was last trading at +$1.2345, down 0.42% on the day.Crude prices fell ahead of the expected hikes by central +banks and signals of strong Russian exports.U.S. crude settled down 2.23% at $77.90 per barrel +and Brent settled at $84.90, down 2.03% on the day.(Reporting by Chuck Mikolajczak, additional reporting by Lewis +Krauskopf +Editing by Bernadette Baum and Deepa Babington) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Stocks fall, U.S. yields climb with central banks on tap.txt b/news/GOOG/2023.01.30/Stocks fall, U.S. yields climb with central banks on tap.txt new file mode 100644 index 0000000000000000000000000000000000000000..21f6f6d5488eea4be39d95e3b1a547c8f8eb88f6 --- /dev/null +++ b/news/GOOG/2023.01.30/Stocks fall, U.S. yields climb with central banks on tap.txt @@ -0,0 +1,54 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Megacap stocks lead earnings results this week*MSCI index on track for biggest January pct gain since +2019NEW YORK, Jan 30 (Reuters) - A gauge of global stocks +retreated on Monday after six sessions of gains while U.S. +Treasury yields rose ahead of central bank policy announcements +and data that may shed light on whether progress has been made +in bringing down inflation.Investors widely expect the Federal Reserve will raise rates +by 25 basis points (bps) on Wednesday, with announcements on +Thursday from the Bank of England and European Central Bank +(ECB), both of which are largely expected to hike by 50 bps."It would be pretty shocking for them to come out and do +anything other than 25 on Wednesday just because it has been +priced in there and they haven’t taken the opportunity to push +back on it," said Scott Ladner, chief investment officer at +Horizon Investments in Charlotte, North Carolina."It’s not necessarily in the Fed’s best interest to forecast +a pause or pivot at this stage – they still have an inflation +number that is too high, they still have an employment situation +they believe is too tight."The Dow Jones Industrial Average fell 189.88 points, +or 0.56%, to 33,788.2, the S&P 500 lost 43.59 points, or +1.07%, to 4,026.97 and the Nasdaq Composite dropped +193.19 points, or 1.66%, to 11,428.52.The rate increase expected at the Federal Open Market +Committee's Jan. 31-Feb. 1 meeting would bring the policy rate +to the 4.5%-4.75% range. That's two quarter-point rate hikes +short of the level most Fed policymakers in December thought +would be "sufficiently restrictive" to bring inflation under +control. But futures currently expect rates to peak at +about 4.9% in June before retreating to 4.5% by year-end.Markets will also grapple with a host of U.S. economic data, +culminating in Friday's payrolls report for January. Investors +see signs of weakening in the labor market as a key factor in +bringing down high inflation. Other data included gauges of the +manufacturing and services sectors.The U.S. corporate earnings season also continues to roll +on, with earnings this week expected from the likes of Apple +, Alphabet and Amazon. Earnings for +S&P 500 companies are expected to show a decline of 3% for the +quarter, per Refinitiv data, weaker than the 1.6% fall seen at +the start of the year.Stocks in Europe closed lower, with rate-sensitive names +such as technology shares among the primary decliners after +inflation data from Spain came in above expectations while other +data showed the German economy unexpectedly contracted in the +fourth quarter.The pan-European STOXX 600 index lost 0.17% and +MSCI's gauge of stocks across the globe shed +0.85%. MSCI's index was on track for its biggest January +percentage gain since 2019 while the STOXX 600 was poised for +its largest January percentage gain since 2015.U.S. Treasury yields rose ahead of the central bank meetings +and economic data, with the 10-year yield up for a third +consecutive session. Benchmark 10-year notes were up +2.6 basis points to 3.544%, from 3.518% late on Friday.The greenback, which was poised for its fourth month of +declines as expectation have increased the Fed was nearing the +end of its rate-hiking cycle, was up for a third straight +session against a basket of major currencies.The dollar index rose 0.402%, with the euro +down 0.25% to $1.084.The Japanese yen weakened 0.51% versus the greenback to +130.51 per dollar, while Sterling was last trading at +$1.2338, down 0.48% on the day.Crude prices fell ahead of the expected hikes by central +banks and signals of strong Russian exports.U.S. crude fell 2.16% to $77.96 per barrel and Brent +was at $84.86, down 2.08% on the day.(Reporting by Chuck Mikolajczak +Editing by Bernadette Baum) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Tech drags as big week for market kicks off.txt b/news/GOOG/2023.01.30/Tech drags as big week for market kicks off.txt new file mode 100644 index 0000000000000000000000000000000000000000..474e96e901784e33506b8f992ce089aa86aacec5 --- /dev/null +++ b/news/GOOG/2023.01.30/Tech drags as big week for market kicks off.txt @@ -0,0 +1 @@ +The Dow closed down more than three-quarters of a percent, the S&P slid 1.3% and the Nasdaq plunged almost 2%.Liz Miller, President and Founder of Summit Place Financial Advisors, says Monday's pullback comes after an unexpectedly strong start to the year."We're into the last couple days of the month and it's been a very surprising January. We've seen not just double-digit moves off of the bottom, we've seen some stocks moving 20, 30 percent in this month alone after the lows we saw in 2022. We felt at Summit Place that 2022 was overdone and that there was plenty of upside in this market, but we expect the market to pause here, and like many professional investors, we're actually getting prepared for a more difficult February potentially - and I think that's exactly what we're seeing in the market today."Shares of Apple, Amazon and Google parent Alphabet, which are due to post results later in the week, all slumped.Tesla dropped more than 6% after weeks of rallying. The stock came under presser after Ford announced price cuts Monday on its popular Mustang Mach-E electric SUV, weeks after Tesla slashed prices up to 20% on its vehicles.And shares of Johnson & Johnson dropped 3.7% after a federal appeals court rejected the healthcare giant's strategy to use bankruptcy to resolve multibillion-dollar lawsuits over claims its talc products cause cancer. \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Tech, megacaps drag Wall St down at start of big market week.txt b/news/GOOG/2023.01.30/Tech, megacaps drag Wall St down at start of big market week.txt new file mode 100644 index 0000000000000000000000000000000000000000..f2a3e6f20e695e456f2281e6dc64e40d3cd018ff --- /dev/null +++ b/news/GOOG/2023.01.30/Tech, megacaps drag Wall St down at start of big market week.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Alphabet, Amazon slide ahead of earnings*Fed decision on interest rates on Wednesday*J&J falls after U.S. court rejects talc-lawsuit strategy(Adds close of U.S. market, analyst comment)NEW YORK, Jan 30 (Reuters) - Major U.S. stock indexes +sank on Monday, weighed down by declines in technology and other +megacap shares, as investors looked toward a major week of +events including central bank meetings and a slew of earnings +reports.The heavyweight tech sector was among the biggest +S&P 500 sector decliners on the day. Shares of Apple Inc +, Amazon.com Inc and Google parent Alphabet Inc +, which are due to post results later this week, all +slumped.More than 100 S&P 500 companies are expected to report +results this week, which also includes central bank meetings in +the United States and Europe and closely watched U.S. employment +data.“The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market,” said Keith Lerner, co-chief +investment officer at Truist Advisory Services.According to preliminary data, the S&P 500 lost 52.38 +points, or 1.29%, to end at 4,018.18 points, while the Nasdaq +Composite lost 227.89 points, or 1.96%, to 11,393.81. +The Dow Jones Industrial Average fell 254.47 points, or +0.75%, to 33,723.61.Despite Monday's declines, the S&P 500 was on track to post +its biggest January gain since 2019.The U.S. central bank is seen hiking the Fed funds rate by +25 basis points at the end of its two-day policy meeting on +Wednesday, following a 2022 in which the Fed aggressively +boosted rates to control soaring inflation.Fed Chair Jerome Powell's news conference will be +scrutinized for whether the rate-hiking cycle may be coming to a +close and for signs of how rates could stay elevated.“It’s probably one of the most important meetings since the +whole thing began," said Sameer Samana, senior global market +strategist at Wells Fargo Investment Institute. "Unless the Fed +extends that timeline meaningfully from what the market expects, +which is that the Fed will be done in the next meeting or two, +this may end up marking the pause, so to speak.”Meanwhile, the European Central Bank is expected to deliver +another large rate hike on Thursday.Investors are also focused on earnings reports, amid +concerns the economy may be facing a recession. With more than +140 companies having reported so far, S&P 500 earnings are +expected to have fallen 3% in the fourth quarter compared with +the prior-year period, according to Refinitiv IBES.In company news, shares of Johnson & Johnson fell +after the healthcare giant's strategy to use bankruptcy to +resolve the multibillion-dollar litigation over claims its talc +products cause cancer was rejected by a federal appeals court. +(Reporting by Lewis Krauskopf in New York, and Shreyashi Sanyal +and Johann M Cherian in Bengaluru +Editing by Anil D'Silva and Matthew Lewis) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Tech, megacaps drag Wall St lower at start of big market week.txt b/news/GOOG/2023.01.30/Tech, megacaps drag Wall St lower at start of big market week.txt new file mode 100644 index 0000000000000000000000000000000000000000..1be0175b600c34caf949c962f5e1b00979b2a70f --- /dev/null +++ b/news/GOOG/2023.01.30/Tech, megacaps drag Wall St lower at start of big market week.txt @@ -0,0 +1,40 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Alphabet, Amazon slide ahead of earnings*Fed decision on interest rates on Wednesday*J&J falls after U.S. court rejects talc-lawsuit strategy*Indexes down: Dow 0.37%, S&P 500 0.95%, Nasdaq 1.59%(Recasts with midafternoon trading)NEW YORK, Jan 30 (Reuters) - Major U.S. stock indexes +fell on Monday, dragged lower by declines in technology and +other megacap shares, as investors looked toward a major week of +events including central bank meetings and a slew of earnings +reports.The tech sector slumped 1.7%, with most sectors +trading lower. Shares of Apple Inc, Amazon.com Inc +and Google parent Alphabet Inc, which are all +due to post results later this week, dropped over 1%.More than 100 S&P 500 companies are expected to report +results this week, which also includes central bank meetings in +the United States and Europe and closely watched U.S. employment +data.“The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market,” said Keith Lerner, co-chief +investment officer at Truist Advisory Services.The Dow Jones Industrial Average fell 125.11 points, +or 0.37%, to 33,852.97, the S&P 500 lost 38.49 points, or +0.95%, to 4,032.07 and the Nasdaq Composite dropped +184.56 points, or 1.59%, to 11,437.15.U.S. Treasury yields rose, providing another pressure point +for tech shares that have otherwise rebounded to start the year +after a rough 2022.Despite Monday's declines, the S&P 500 was on track to post +its biggest January gain since 2019.The U.S. central bank is seen hiking the Fed funds rate by +25 basis points at the end of its two-day policy meeting on +Wednesday, following a 2022 in which the Fed aggressively hiked +rates to control soaring inflation.Fed Chair Jerome Powell's news conference will be +scrutinized for signs of how high rates may go and how long they +could stay elevated. Meanwhile, the European Central Bank is +expected to deliver another large rate hike on Thursday.Investors are also focused on earnings reports, amid +concerns the economy may be facing a recession. With more than +140 companies having reported so far, S&P 500 earnings are +expected to have fallen 3% in the fourth quarter compared with +the prior-year period, according to Refinitiv IBES.In company news, shares of Johnson & Johnson fell +over 3% after the healthcare giant's strategy to use bankruptcy +to resolve the multibillion-dollar litigation over claims its +talc products cause cancer was rejected by a federal appeals +court.Declining issues outnumbered advancing ones on the NYSE by a +1.81-to-1 ratio; on Nasdaq, a 1.73-to-1 ratio favored decliners.The S&P 500 posted five new 52-week highs and no new lows; +the Nasdaq Composite recorded 51 new highs and 14 new lows. +(Reporting by Lewis Krauskopf in New York, and Shreyashi Sanyal +and Johann M Cherian in Bengaluru +Editing by Anil D'Silva and Matthew Lewis) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Tech, megacaps drag Wall St to lower close as big market week kicks off.txt b/news/GOOG/2023.01.30/Tech, megacaps drag Wall St to lower close as big market week kicks off.txt new file mode 100644 index 0000000000000000000000000000000000000000..c0b4c908ea6ef1fc20ce1bec65322033961c1340 --- /dev/null +++ b/news/GOOG/2023.01.30/Tech, megacaps drag Wall St to lower close as big market week kicks off.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Alphabet, Amazon slide ahead of earnings*Fed decision on interest rates on Wednesday*J&J falls after U.S. court rejects talc-lawsuit strategy*Indexes down: Dow 0.77%, S&P 500 1.3%, Nasdaq 1.96%(Adds market details after close of trading)NEW YORK, Jan 30 (Reuters) - Major U.S. stock indexes +sank on Monday, weighed down by declines in technology and other +megacap shares, as investors looked toward a major week of +events including central bank meetings and a slew of earnings +reports.The heavyweight tech sector dropped 1.9% while +energy shed 2.3%, the biggest drop among the S&P 500 +sectors. Shares of Apple Inc, Amazon.com Inc +and Google parent Alphabet Inc, which are due to post +results later this week, all slumped.More than 100 S&P 500 companies are expected to report +results this week, which also includes central bank meetings in +the United States and Europe and closely watched U.S. employment +data.“The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market,” said Keith Lerner, co-chief +investment officer at Truist Advisory Services.The Dow Jones Industrial Average fell 260.99 points, +or 0.77%, to 33,717.09, the S&P 500 lost 52.79 points, or +1.30%, to 4,017.77 and the Nasdaq Composite dropped +227.90 points, or 1.96%, to 11,393.81.U.S. Treasury yields rose, providing another +pressure point for tech shares that have otherwise rebounded to +start the year after a rough 2022.Despite Monday's declines, the S&P 500 remained on track to +post its biggest January gain since 2019.The U.S. central bank is seen hiking the Fed funds rate by +25 basis points at the end of its two-day policy meeting on +Wednesday, following a 2022 in which the Fed aggressively +boosted rates to control soaring inflation.Fed Chair Jerome Powell's news conference will be +scrutinized for whether the rate-hiking cycle may be coming to a +close and for signs of how long rates could stay elevated.“It’s probably one of the most important meetings since the +whole thing began," said Sameer Samana, senior global market +strategist at Wells Fargo Investment Institute. "Unless the Fed +extends that timeline meaningfully from what the market expects, +which is that the Fed will be done in the next meeting or two, +this may end up marking the pause, so to speak.”Meanwhile, the European Central Bank is expected to deliver +another large rate hike on Thursday.Investors are also focused on earnings reports, amid +concerns the economy may be facing a recession. With more than +140 companies having reported so far, S&P 500 earnings are +expected to have fallen 3% in the fourth quarter compared with +the prior-year period, according to Refinitiv IBES.In company news, shares of Johnson & Johnson fell +3.7% after the healthcare giant's strategy to use bankruptcy to +resolve the multibillion-dollar litigation over claims its talc +products cause cancer was rejected by a federal appeals court.Declining issues outnumbered advancing ones on the NYSE by a +2.40-to-1 ratio; on Nasdaq, a 2.08-to-1 ratio favored decliners.The S&P 500 posted 5 new 52-week highs and no new lows; the +Nasdaq Composite recorded 67 new highs and 20 new lows.About 10.6 billion shares changed hands in U.S. exchanges, +compared with the 11.2 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, and Shreyashi Sanyal +and Johann M Cherian in Bengaluru +Editing by Anil D'Silva and Matthew Lewis) \ No newline at end of file diff --git a/news/GOOG/2023.01.30/Wall Street set to open lower ahead of Fed rate decision.txt b/news/GOOG/2023.01.30/Wall Street set to open lower ahead of Fed rate decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..3157f4f0cd064fef67e00d2984ec4b5e53c67d58 --- /dev/null +++ b/news/GOOG/2023.01.30/Wall Street set to open lower ahead of Fed rate decision.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Megacap growth stocks lead declines*Fed decision on interest rates on Wednesday*Futures down: Nasdaq 1.13%, S&P 0.80%, Dow 0.46%Jan 30 (Reuters) - Wall Street was set to open lower on +Monday, with the tech-focused Nasdaq futures dropping more than +1%, at the start of the busiest week of the earnings season and +ahead of key central bank meetings.The U.S. Federal Reserve is seen hiking the Fed funds rate +by 25 basis points (bps) at the end of its two-day policy +meeting on Wednesday, close on the heels of economic reports +showing signs of slowing demand and cooling inflation.This will likely be the smallest rate increase since the Fed +kicked off its tightening cycle 10 months ago with a 25 bps +hike, with financial markets pricing in a final rate hike in +March."The Fed's going to continue to err on the side of caution +with respect to inflation because of the fact that it still +remains well above the 2% target ... we're seeing signs that +inflation may be coming down, but it's still not low enough," +said Adam Sarhan, chief executive of 50 Park Investments in New +York.Money markets now see rates peaking at 4.9% in June, still +below the 5% level expected by Fed policymakers.After a slew of layoffs by large-cap tech and financial +firms through the month, investors will now watch out for the +Labor Department's January nonfarm payrolls data expected on +Friday.A total of 107 S&P 500 firms are expected to report +quarterly earnings this week including heavyweight growth +companies Apple Inc, Amazon.com Inc, Alphabet +Inc and Meta Platforms Inc, all down about 1% +each in premarket trading.Analysts expect S&P 500 earnings during the fourth-quarter +to decline 2.9%, compared with the 1.6% drop expected at the +beginning of the year, according to Refinitiv data as of Friday.Data reflecting cooling inflation and a slowing economy has +raised hopes among investors that the Fed might steer away from +its hawkish rhetoric, stoking interest in growth stocks this +month, with the S&P 500 Growth index recouping more than +half its monthly losses from December.Tighter monetary policies have stood in the way of business +expansion of growth firms, which have also been pressured for +much of last year by high Treasury yields.Wall Street is expected to end the month higher with the +tech-inclined Nasdaq and the benchmark S&P 500 +recovering December losses."The month of January was a big 'up-month' on Wall Street, +led mostly by many of the big stocks that got crushed last +year," Sarhan added, noting that the decline in growth stocks on +Monday could be due to some profit-taking.At 8:48 a.m. ET, Dow e-minis were down 157 points, +or 0.46%, S&P 500 e-minis were down 32.5 points, or +0.8%, and Nasdaq 100 e-minis were down 138 points, or +1.13%.Other major central banks including the European Central +Bank and the Bank of England are also seen raising interest +rates later in the week. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOG/2023.01.31/AMD forecasts first-quarter revenue below expectations.txt b/news/GOOG/2023.01.31/AMD forecasts first-quarter revenue below expectations.txt new file mode 100644 index 0000000000000000000000000000000000000000..13295ed32b59c24701818c3a80227d46935a6553 --- /dev/null +++ b/news/GOOG/2023.01.31/AMD forecasts first-quarter revenue below expectations.txt @@ -0,0 +1 @@ +The company forecast current-quarter revenue of $5.3 billion, plus or minus $300 million. Analysts on average expected revenue of $5.48 billion, according to Refinitiv data. (Reporting by Chavi Mehta in Bengaluru; Editing by Anil D'Silva) \ No newline at end of file diff --git a/news/GOOG/2023.01.31/Asian stocks edge down as investors eye central bank hikes.txt b/news/GOOG/2023.01.31/Asian stocks edge down as investors eye central bank hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..f50d0cc35067940de02ab4703c8234cc0a19b03a --- /dev/null +++ b/news/GOOG/2023.01.31/Asian stocks edge down as investors eye central bank hikes.txt @@ -0,0 +1,57 @@ +Jan 31 (Reuters) - Asian shares edged down and bonds +nursed small losses on Tuesday as investors braced for an +eventful week that will include central bank meetings, a slew of +earnings reports and key U.S. economic data.Investors broadly expect the U.S. Federal Reserve to raise +interest rates by 25 basis points (bps) on Wednesday. Interest +rate announcements are due on Thursday from both the Bank of +England and the European Central Bank - and both are expected to +hike rates by 50 bps.Meanwhile, more than 100 S&P 500 companies, including Apple +, Amazon.com and Google parent Alphabet +, are expected to report results this week, which also +will see the publication of closely watched U.S. employment +numbers."It's a big week for both central banks and U.S. equities, +with ... some of the household names due to make earnings +announcements that will provide a micro overview of the macro +economy," ANZ analysts said in a note."We expect a 25 bps (U.S.) rate rise and anticipate that the +Fed will caution against an early pause in the tightening cycle +.... Risk appetite could be vulnerable to a correction."European markets were set for a lower open, with pan-region +Euro Stoxx 50 futures down 0.48%, German DAX futures +falling 0.47% and FTSE futures dropping 0.29%. +U.S. stock futures, the S&P 500 e-minis, were down 0.06%.In Asia, MSCI's broadest index of Asia-Pacific shares +outside Japan was 1.1% lower. The index is up +9.9% so far this month and is on course for its best January +performance since 2012.Japan's Nikkei stock index slid 0.23% while +Australian shares were down 0.15%.China's economic activity swung back to growth in +January, after a wave of COVID-19 infections passed through the +country faster than expected following abandonment of pandemic +controls. The official purchasing managers' index, which +measures manufacturing activity, rose to 50.1 from 47.0 in +December.Investors remained cautious, however, looking for more +signs of recovery in the pandemic-hit economy. China's blue-chip +CSI300 index was down 1% in afternoon trade after +reaching a half-year high on Monday.While Hong Kong's Hang Seng index dropped 1.23% +on Tuesday, it was still set to post its best January +performance since 1989.On Monday, U.S. stocks lost ground, with the major indexes +sinking, weighed down by declines in technology and other giant +corporations' shares.The Dow Jones Industrial Average fell 0.8% to +33,717.09, the S&P 500 lost 1.3% to 4,017.77 and the +Nasdaq Composite dropped 2.0% to 11,393.81.Despite Monday's declines, the S&P 500 remained on track to +post its biggest January gain since 2019.At the end of the Fed's two-day policy meeting on Wednesday, +investors will be glued to Chair Jerome Powell's news conference +for clues on whether the rate-hiking cycle may be coming to a +close, and for signs of how long rates could stay elevated.Markets will also grapple with a flood of U.S. economic +data, culminating in Friday's payrolls report for January. +Investors see signs of weakening in the labour market as a key +factor in bringing down high inflation.U.S. Treasury yields remained firm ahead of the central bank +meetings and economic data, with the yield on benchmark 10-year +Treasury notes US10YT=RR standing at 3.5457% compared with its +U.S. close of 3.551% on Monday.The two-year yield, which rises with traders' +expectations of higher Fed fund rates, touched 4.2424% compared +with a U.S. close of 4.261%.In currencies, the U.S. dollar, which was poised for its +fourth month of declines, was slightly up at 102.29 against a +basket of other major currencies.The European single currency was largely unchanged on +the day at $1.0841, having gained 1.3% in a month.In the energy market, oil prices fell ahead of the expected +hikes by central banks and signals of strong Russian exports.U.S. crude dipped 0.44% to $77.56 a barrel. Brent +crude fell to $84.85 per barrel.Gold was slightly lower. Spot gold was traded at +$1920.84 per ounce.(Additional reporting by Ankur Banerjee; Editing by Kenneth +Maxwell and B) \ No newline at end of file diff --git a/news/GOOG/2023.01.31/EU studying whether Big Tech should pay network costs -EU document.txt b/news/GOOG/2023.01.31/EU studying whether Big Tech should pay network costs -EU document.txt new file mode 100644 index 0000000000000000000000000000000000000000..6131a64c7a1f8462303ea172fbe3a01e9bbb5e72 --- /dev/null +++ b/news/GOOG/2023.01.31/EU studying whether Big Tech should pay network costs -EU document.txt @@ -0,0 +1 @@ +EU telecoms providers including Deutsche Telekom, Orange, Telefonica and Telecom Italia say the six largest content providers account for more than half of data internet traffic and should contribute their fair share. The providers also point to Netflix Inc, Apple Inc and Microsoft Corp.The tech giants say the idea is equivalent to an internet traffic tax that could interfere with Europe's net neutrality rules treating all users equally.The commission's query is part of a 19-page document the EU executive drafted before it proposes legislation.The EU executive is expected to publish the document next week to garner feedback from telecoms operators and Big Tech, although the timing may change. The next step is an agreement with EU countries and lawmakers to finalise the legislation."Some stakeholders have suggested a mandatory mechanism of direct payments from CAPs (content application providers)/LTGs (large traffic generator) to contribute to finance network deployment. Do you support such suggestion and if so why? If no, why not?" the questionnaire asked.The questionnaire also asks who the mechanism should apply t; whether it would negatively impact innovation, the internet ecosystem and consumers; and whether the EU should create a continental or digital levy or fund.The EU will also query Big Tech and telecoms providers' investment spending and future developments, confirming a Reuters story this month."The Commission's questionnaire is basically asking questions that seek to justify the 'fair share' narrative pushed by big telcos. What is more, it seems to ignore the impact on consumers and fundamental net neutrality protections," an industry source said."The Commission is also asking for detailed business information, such as peering contracts, that is usually confidential. This effectively excludes key stakeholders from taking part. (Reporting by Foo Yun Chee; Editing by Josie Kao)By Foo Yun Chee \ No newline at end of file diff --git a/news/GOOG/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt b/news/GOOG/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d3f81417321caae04ff9d49cdf90aeb52759543 --- /dev/null +++ b/news/GOOG/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt @@ -0,0 +1 @@ +There's an uncomfortable feeling in markets this week that good news may be bad news once again - mainly because of what the former means for this week's big central banking set pieces.As U.S. Federal Reserve's Federal Open Market Committee kicks off its two-day policymaking meeting, the economic news from around the world brightened considerably. Possibly wary of a premature easing of financial conditions before its tightening campaign is finished, some investors suspect the Fed may want to hang tough for a bit longer - stressing more needs to be done to ensure inflation is licked even as it slows the pace of rate hikes another notch to a quarter point rise on Wednesday.Another one-two of half point rate rises from the European Central Bank and Bank of England the following day adds to the trepidation, not least with Spain reminding everyone on Monday that inflation rates can re-accelerate again even after peaking.And if global recession is avoided, the hawkishness may persist. That's why China's new year bounce back from COVID-lockdowns and the euro zone dodging a downturn due to falling energy prices in a warm winter matter so much. They account for the world's second and third biggest economic areas.China's economic activity swung back to growth in January after three months of contraction, according to official business surveys released on Tuesday.The euro zone economy confounded forecasts for a quarterly contraction of gross domestic product in the final three months of 2022. Eurostat estimated GDP in the bloc rose 0.1% in Q4 despite consensus expectations for a fall of 0.1%.And if the significant energy price relief of the past two months means activity picked up further early this year, the long-standing assumptions for a winter euro zone recession will evaporate.Underlining the point, the International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly due to "surprisingly resilient" demand in the United States and Europe, easing energy costs and China's reopening.Dogged by Brexit, tax rises and serial labour strikes, Britain was the clear outlier and is the only G7 nation to have suffered a cut to its 2023 IMF, with the economy set to shrink by 0.6% this year - a sharp downgrade from the prior IMF forecast.The constellation leaves markets on the back foot as they await the big monetary policy decisions.Deep in the weeds of the latest corporate earnings season - with more than a fifth of S&P500 firms reporting this week alone and Apple, Amazon and Alphabet all due on Thursday - Wall St stock futures remain in the red after a dour start to the week on Monday. European and Asia bourses were lower too. The dollar has picked up across the board, with two-year U.S. Treasury yields giving back only some of their gains to near three-week highs on Monday.Despite the upbeat macro news, China tech stocks dropped 1.7% on media reports that the Biden administration has stopped approving licenses for U.S. companies to export most items to China's Huawei, signalling new tension in the Sino-U.S. tech war.UniCredit jumped 8.1% to the top of STOXX 600 after the giant Italian lender pledged to return 5.25 billion euros ($5.69 billion) to investors based on its 2022 results after posting its best profit in more than a decade.UBS shares fell 3% after the Swiss banking giant predicted an "uncertain" year ahead plagued by accelerating inflation and higher interest rates - even as it beat estimates, upped its dividend and proposed another $5 billion stock buyback this year.Indian billionaire Gautam Adani's $2.5 billion share sale inched closer to full subscription on Tuesday as investors pumped in funds after a tumultuous week for his group in which its stocks were pummelled by a scathing short-seller reportKey developments that may provide direction to U.S. markets later on Tuesday: * U.S. Federal Reserve's Federal Open Market Committee starts two-day meeting * U.S. Q4 employment costs, Jan consumer confidence, Chicago PMI business survey, Dallas Fed services index, Nov house prices* U.S. corp earnings: Exxon Mobil, Marathon, Pfizer, McDonald's, UPS, Amgen, Caterpillar, AMD, Stryker, Mondelez, Moody's, GM, MSCI, Electronic Arts, Spotify, Snap, Chubb, Western Digital, Juniper Networks, Boston Properties, Edwards Lifesciences, Match, Sysco, Corning, Pentair, Intl Paper, AO Smith, Dover (By Mike Dolan, editing by Ed Osmond, mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/GOOG/2023.01.31/Marketmind: Fed games.txt b/news/GOOG/2023.01.31/Marketmind: Fed games.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9ab280cacb8700cca0f2912e0ed0460d2995cef --- /dev/null +++ b/news/GOOG/2023.01.31/Marketmind: Fed games.txt @@ -0,0 +1 @@ +Asian stocks are primed for a green Wednesday on the heels of a broad rally on Wall Street, as a slew of economic data suggested the Federal Reserve's restrictive monetary policy is working as directed.All three major U.S. stock indexes ended bright green and notched welcome gains for the month.The tech-heavy Nasdaq posted its biggest January percentage advance in 22 years.Risk appetite was largely fueled by economic data, specifically the Employment Cost Index (ECI) which decelerated in the fourth quarter to its slowest growth in a year - yet another sign that decades-high inflation is beginning to cool.This is welcome news for the Fed, which is expected to punctuate its two-day monetary policy meeting on Wednesday with a 25 basis point hike to the Fed funds target rate, its latest salvo in its battle against inflation.Upbeat quarterly results from a handful of major industrial firms, including Exxon Mobil Corp, United Parcel Service Inc and General Motors Co added muscle to the rally.On Wednesday, market participants will digest factory and labor market data and parse the Fed's statement and Chairman Jerome Powell's remarks at the subsequent press conference. Social media bellwether Meta Platforms Inc posts results after Wednesday's bell as a prologue to Apple Inc, Amazon.com and Alphabet Inc, all slated for Thursday after the bell.Crude prices advanced after EIA data showed solid U.S. energy demand.Factory data from China showed the manufacturing sector entered expansion territory after Beijing relaxed its COVID-19 restrictions, further hinting at a global demand rebound.(The race to raise rates https://www.reuters.com/graphics/CANADA-CENBANK/zjvqjebewpx/chart_eikon.jpg)Here are some key developments that could provide more direction to markets on Tuesday:- Japan posts manufacturing PMI (Jan)- South Korea releases preliminary import/export data (Jan)- S&P Global unveils Caixin manufacturing PMI for China (Jan)- The U.S. economic reports include ISM PMI (Jan), JOLTS (Dec), ADP payrolls (Jan) and construction spending (Dec) - The U.S. Federal Reserve issues its Fed funds target rate decision at 1400 GMT (Reporting by Stephen Culp; Editing by Josie Kao)By Stephen Culp \ No newline at end of file diff --git a/news/GOOG/2023.01.31/Norway wealth fund posts record $164 billion loss.txt b/news/GOOG/2023.01.31/Norway wealth fund posts record $164 billion loss.txt new file mode 100644 index 0000000000000000000000000000000000000000..8a89e220e43a1565a9ca513bc1401c9063fe5e3b --- /dev/null +++ b/news/GOOG/2023.01.31/Norway wealth fund posts record $164 billion loss.txt @@ -0,0 +1 @@ +The previous largest loss was 633 billion crowns in 2008.The fund's return on investment stood at minus 14.1% for the year, which was 0.88 percentage point better than the return on the fund's benchmark index."The market was impacted by war in Europe, high inflation, and rising interest rates. This negatively impacted both the equity market and bond market at the same time, which is very unusual," Chief Executive Nicolai Tangen said in a statement.Founded in 1996, the fund invests revenue from Norway's oil and gas sector and holds stakes in some 9,300 companies globally, owning 1.3% of all listed stocks. It also invests in bonds, unlisted real estate and renewable energy projects.($1 = 9.9752 Norwegian crowns) (Reporting by Victoria Klesty, editing by Gwladys Fouche and Terje Solsvik) \ No newline at end of file diff --git "a/news/GOOG/2023.01.31/Snap swings to quarterly net loss, expects lower rev in Q1\302\240.txt" "b/news/GOOG/2023.01.31/Snap swings to quarterly net loss, expects lower rev in Q1\302\240.txt" new file mode 100644 index 0000000000000000000000000000000000000000..6575b20f6a4b080414af57fb8ac521fb1c473fdf --- /dev/null +++ "b/news/GOOG/2023.01.31/Snap swings to quarterly net loss, expects lower rev in Q1\302\240.txt" @@ -0,0 +1 @@ +The owner of photo messaging app Snapchat is the first of the major digital advertising platforms to report quarterly results, which often provide an early signal for platforms like Facebook owner Meta Platforms Inc and Alphabet's Google, which report results this week.In a letter to investors, Snap said a weakening economy, increased competition from other social media platforms and "platform policy changes" continued to hurt its business.Apple began rolling out privacy changes on iPhones in 2021 that have limited advertisers' ability to collect data for targeted advertising. "We expect the headwinds we have faced over the past year to persist throughout Q1," the company said in a letter to investors.Snap's net loss was $288 million during the quarter, down from net income of $23 million the previous year. Revenue for the fourth quarter ended Dec. 31 was $1.3 billion, flat from the prior-year quarter and in line with analyst expectations. Snap will host an investor day on Feb. 16 to detail its plan to move forward after announcing in August that it would lay off 20% of its staff and discontinue experimental projects like a drone camera to cut costs.The tech sector has been hammered in recent months amid record-high inflation and expectations of a recession. Shares of the Santa Monica, California-based company are down 65% over the past year.Daily active users on Snapchat rose 17% year-over-year to 375 million, beating analyst expectations of 374 million, according to IBES data from Refinitiv. In its letter to investors, the company said its internal forecast assumes a 2% to 10% revenue decline in the first quarter compared to a year ago, and said revenue is currently down 7% so far in the quarter.Snap forecast daily active users in the first quarter between 382 million and 384 million. (Reporting by Sheila Dang in Dallas; Editing by Nick Zieminski)By Sheila Dang \ No newline at end of file diff --git a/news/GOOG/2023.01.31/Stocks gain, yields dip after U.S. data; Fed eyed.txt b/news/GOOG/2023.01.31/Stocks gain, yields dip after U.S. data; Fed eyed.txt new file mode 100644 index 0000000000000000000000000000000000000000..490895b8e6964d0202b2bc59f9424d3d13c1da44 --- /dev/null +++ b/news/GOOG/2023.01.31/Stocks gain, yields dip after U.S. data; Fed eyed.txt @@ -0,0 +1,49 @@ +*U.S. Federal Reserve policy decision awaited*ECB, BoE policy announcements due Thursday*MSCI index set for biggest January pct gain since 2019*U.S. labor costs growth slows in Q4NEW YORK, Jan 31 (Reuters) -A gauge of global stocks advanced on Tuesday as it closed +out a strong month while U.S. Treasury yields fell as investors +assessed economic data and earnings reports ahead of a run of +central bank policy announcements.On Wall Street, U.S. stocks rallied and closed higher, +reversing declines in equity futures after data showed labor +cost growth in the fourth quarter was the smallest in a year, at +1.0%, even in a tight labor market. Other data showed consumer +confidence eased in January, as inflation expectations for the +next 12 months climbed to 6.8% from 6.6% last month.The Federal Reserve is widely expected to raise interest +rates by 25 basis points (bps) at the conclusion of its two-day +policy meeting on Wednesday. Investors will closely monitor +comments from Fed Chair Jerome Powell following the announcement +for clues on the path of monetary policy."Especially ahead of a Fed press conference, something like +this equity market rally is kind of explicitly against what they +want, and they have been pretty clear the market rallying on +what they expect the Fed to do is counter-productive," said Ross +Mayfield, investment strategist at Baird in Louisville, +Kentucky."We do feel like we’ve gotten a bit ahead of ourselves here +even if we are closer to the end of the Fed hiking cycle than +the beginning."The Dow Jones Industrial Averagerose 368.95 points, or 1.09%,to34,086.04, the S&P 500gained 58.83 points, or 1.46%,to4,076.6, and the Nasdaq Compositeadded 190.74 points, or 1.67%,to11,584.55.The S&P 500 closed up 6.2% for the month, its first +January gain since 2019, while the Nasdaq surged 10.7% for its +biggest percentage gain for the month of January since 2001.Interest rate announcements from the Bank of England and the +European Central Bank are scheduled for Thursday, with both seen +as likely to hike rates by 50 basis points.Markets will also grapple with a host of U.S. economic data +this week, culminating in Friday's payrolls report for January. +Investors see signs of weakening in the labor market as a key +factor in bringing down high inflation. Other data this week +include gauges of the manufacturing and services sectors.In addition, more than 100 S&P 500 companies, including +market heavyweights Apple Inc, Amazon.com Inc +and Google parent Alphabet, are scheduled to report +results this week.Despite the strong equity rally, Caterpillar and +McDonald's both lost ground on Tuesday following their +quarterly results. However, Exxon Mobil rose after posting a $56 +billion net profit for 2022.European shares retreated ahead of the central bank meetings +to end the month on a down note, but still notched their biggest +January percentage gain since 2015. Economic data for the euro +zone showed slight growth for the fourth quarter, but further +weakness is expected this year.The pan-European STOXX 600 index lost 0.26%, and +MSCI's gauge of stocks across the globe gained +0.72%. MSCI's index was on pace for its biggest January +percentage gain since 2019.Benchmark U.S. 10-year notes were down 3.5 basis +points to 3.516% in the wake of the data, after hitting a +two-week high of 3.574% on Monday.In currencies, the U.S. dollar index, poised for a +fourth month of declines, fell 0.176%, with the euro up +0.22% to $1.0868.Oil prices recovered from earlier lows, as U.S. crude +settled up 1.2% at $78.87 per barrel and Brent settled +at $84.49, down 0.48% on the day.(Reporting by Chuck Mikolajczak; additional reporting by Lisa +Pauline Mattackal; editing by Diane Craft, Leslie Adler and +Deepa Babington) \ No newline at end of file diff --git a/news/GOOG/2023.01.31/Stocks up, yields dip after U.S. data; Fed on deck.txt b/news/GOOG/2023.01.31/Stocks up, yields dip after U.S. data; Fed on deck.txt new file mode 100644 index 0000000000000000000000000000000000000000..24ce283c784fb5e642f751d99da6fe0e9f3a1c7f --- /dev/null +++ b/news/GOOG/2023.01.31/Stocks up, yields dip after U.S. data; Fed on deck.txt @@ -0,0 +1,45 @@ +*U.S. Federal Reserve policy decision awaited*ECB, BoE policy announcements due Thursday*MSCI index on pace for biggest January pct gain since 2019*U.S. labor costs growth slows in Q4NEW YORK, Jan 31 (Reuters) -A gauge of global stocks rose on Tuesday while U.S. Treasury +yields mostly fell as investors assessed economic data and +earnings reports ahead of a run of central bank policy +announcements.On Wall Street, U.S. stocks were higher, reversing declines +in equity futures after data showed labor cost growth in the +fourth quarter was the smallest in a year, at 1.0%, even in a +tight labor market. Other data showed consumer confidence eased +in January, as inflation expectations for the next 12 months +climbed to 6.8% from 6.6% last month.The Federal Reserve is widely expected to raise interest +rates by 25 basis points (bps) at the conclusion of its two-day +policy meeting on Wednesday. Investors will closely monitor +comments from Fed Chair Jerome Powell following the announcement +for clues on the path of monetary policy."The Fed tomorrow will have to strike a delicate balance in +signaling slowing in the pace of rate increases, while at the +same time emphasizing that they're not done yet with tightening +rates," Oscar Munoz, U.S. macro strategist at TD Securities, +told the Reuters Global Markets Forum."It has to acknowledge the recent improvement in the +inflation data, but also note that the job's not done yet +despite the recent good news."The Dow Jones Industrial Averagerose 228.15 points, or 0.68%,to33,945.24, the S&P 500gained 37.97 points, or 0.95%,to4,055.74, and the Nasdaq Compositeadded 137.22 points, or 1.2%,to11,531.04.The S&P 500, up about 5.2% for the month, is on track +for its first January gain since 2019.Interest rate announcements from the Bank of England and the +European Central Bank are scheduled for Thursday, with both seen +as likely to hike rates by 50 basis points.Markets will also grapple with a host of U.S. economic data +this week, culminating in Friday's payrolls report for January. +Investors see signs of weakening in the labor market as a key +factor in bringing down high inflation. Other data this week +include gauges of the manufacturing and services sectors.In addition, more than 100 S&P 500 companies, including +market heavyweights Apple Inc, Amazon.com Inc +and Google parent Alphabet, are scheduled to report +results this week.Caterpillar and McDonald's both lost ground +on Tuesday following their quarterly results. However, Exxon +Mobil rose after posting a $56 billion net profit for 2022.European shares retreated ahead of the central bank meetings +to end the month on a down note, but still notched their biggest +January percentage gain since 2015. Economic data for the euro +zone showed slight growth for the fourth quarter, but further +weakness is expected this year.The pan-European STOXX 600 index lost 0.26%, and +MSCI's gauge of stocks across the globe gained +0.39%. MSCI's index was on pace for its biggest January +percentage gain since 2019.Benchmark U.S. 10-year notes were down 2.9 basis +points to 3.522% in the wake of the data, after hitting a +two-week high of 3.574% on Monday.In currencies, the U.S. dollar index, on track for a +fourth month of declines, fell 0.196%, with the euro up +0.22% to $1.0868.Oil prices recovered from earlier lows, as U.S. crude +recently rose 0.81% to $78.53 per barrel and Brent was +at $84.47, down 0.51% on the day.(Reporting by Chuck Mikolajczak; additional reporting by Lisa +Pauline Mattackal; editing by Diane Craft and Leslie Adler) \ No newline at end of file diff --git a/news/GOOG/2023.01.31/Wall St gains after encouraging inflation data with Fed next.txt b/news/GOOG/2023.01.31/Wall St gains after encouraging inflation data with Fed next.txt new file mode 100644 index 0000000000000000000000000000000000000000..c450f8e0aa612d7827a0ec8023bb4737f2c50056 --- /dev/null +++ b/news/GOOG/2023.01.31/Wall St gains after encouraging inflation data with Fed next.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. labor cost growth slows in fourth quarter*McDonald's, Caterpillar slip after earnings*Exxon, GM, UPS rise after their results*Fed decision on interest rates on Wednesday(Recasts with close of U.S. trading)NEW YORK, Jan 31 (Reuters) - Major U.S. stock indexes +closed higher on Tuesday as labor cost data encouraged investors +about the Federal Reserve's aggressive approach to taming +inflation a day ahead of the central bank's critical policy +decision.Investors also digested a full plate of earnings reports, +including share-price gains in Exxon Mobil Corp and +United Parcel Service Inc following their results, +countered by declines in Caterpillar Inc and McDonald's +Corp.U.S. labor costs increased at their slowest pace in a year +in the fourth quarter as wage growth slowed, Labor Department +data showed. The U.S. central bank on Wednesday is expected to +hike the Fed funds rate by 25 basis points, following a 2022 in +which the Fed aggressively boosted rates to control soaring +inflation.The labor cost data is "indicating that maybe what the Fed +has done is working and ... we’re rounding the corner on +interest rate hikes," said Peter Tuz, president of Chase +Investment Counsel in Charlottesville, Virginia.According to preliminary data, the S&P 500 +gained 59.39 points, or 1.48%, to end at 4,077.16 points, +while the Nasdaq Composite gained 190.99 points, or +1.68%, to 11,584.55. The Dow Jones Industrial Average +rose 371.04 points, or 1.10%, to 34,088.13.The S&P 500 posted its first increase for the month of +January since 2019, following a brutal 2022 in which the +benchmark index sank 19.4%.Aside from the Fed's rate decision on Wednesday, Chair +Jerome Powell's news conference will be scrutinized for whether +the rate-hiking cycle may be coming to a close and for signs of +how long rates could stay elevated."Jerome Powell and team are probably looking at this easing +of financial conditions that has happened over the last month, +and we will see if they try to push back against it to any +extent," said Mona Mahajan, senior investment strategist at +Edward Jones. "I don’t think they would want markets to move up +too far, too fast either."In earnings news, Exxon Mobil shares rose after the oil +major posted a $56 billion net profit for 2022, setting not only +a company record but a historic high for the Western oil +industry.United Parcel Service shares climbed after its quarterly +profit topped estimates, while General Motors Co shares +jumped after it forecast stronger-than-expected earnings for +2023.Caterpillar shares sank as the machinery maker's +fourth-quarter earnings slid by 29%. McDonald's shares dropped +after the burger chain warned inflation will weigh on margins in +2023.A busy week for markets will also include reports in coming +days from Apple Inc, Amazon.com Inc and +Alphabet Inc, central bank meetings in Europe and the +monthly U.S. employment report. +(Reporting by Lewis Krauskopf in New York, and Johann M Cherian +and Shreyashi Sanyal in Bengaluru +Editing by Maju Samuel and Matthew Lewis) \ No newline at end of file diff --git a/news/GOOG/2023.01.31/Wall St gains over 1% after encouraging inflation data with Fed next.txt b/news/GOOG/2023.01.31/Wall St gains over 1% after encouraging inflation data with Fed next.txt new file mode 100644 index 0000000000000000000000000000000000000000..ccf20e79254c085379b7f18f65981c63a9c1dc9f --- /dev/null +++ b/news/GOOG/2023.01.31/Wall St gains over 1% after encouraging inflation data with Fed next.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nasdaq posts biggest January gain since 2001*U.S. labor cost growth slows in fourth quarter*Exxon, UPS rise after results, Caterpillar slumps*Fed decision on interest rates on Wednesday*Indexes up: Dow 1.09%, S&P 500 1.46%, Nasdaq 1.67%(Adds further market data)NEW YORK, Jan 31 (Reuters) - Major U.S. stock indexes +closed over 1% higher on Tuesday as labor cost data encouraged +investors about the Federal Reserve's aggressive approach to +taming inflation a day ahead of the central bank's critical +policy decision.Investors also digested a full plate of earnings reports. +Shares of Exxon Mobil Corp and United Parcel Service Inc +rose following their respective results, while +Caterpillar Inc and McDonald's Corp ended weaker +after their results.The S&P 500 tallied its first January increase since 2019, +gaining 6.2%, while the tech-heavy Nasdaq jumped 10.7% for the +month - its biggest January percentage rise since 2001.U.S. labor costs increased at their slowest pace in a year +in the fourth quarter as wage growth slowed, Labor Department +data showed. The U.S. central bank on Wednesday is expected to +hike the Fed funds rate by 25 basis points, following a 2022 in +which the Fed aggressively boosted rates to control soaring +inflation.The labor cost data is "indicating that maybe what the Fed +has done is working and ... we’re rounding the corner on +interest rate hikes," said Peter Tuz, president of Chase +Investment Counsel in Charlottesville, Virginia.The Dow Jones Industrial Average rose 368.95 points, +or 1.09%, to 34,086.04, the S&P 500 gained 58.83 points, +or 1.46%, to 4,076.6 and the Nasdaq Composite added +190.74 points, or 1.67%, to 11,584.55.All 11 S&P 500 sectors ended in positive territory, led by +materials and consumer discretionary, both +up over 2%.Aside from the Fed's rate decision on Wednesday, Chair +Jerome Powell's news conference will be scrutinized for whether +the rate-hiking cycle may be coming to a close and for signs of +how long rates could stay elevated."Jerome Powell and team are probably looking at this easing +of financial conditions that has happened over the last month, +and we will see if they try to push back against it to any +extent," said Mona Mahajan, senior investment strategist at +Edward Jones. "I don’t think they would want markets to move up +too far, too fast either."In earnings news, Exxon Mobil shares rose 2.2% after the oil +major posted a $56 billion net profit for 2022, setting not only +a company record but a historic high for the Western oil +industry.United Parcel Service shares climbed 4.7% after its +quarterly profit topped estimates, while General Motors Co +shares jumped 8.3% after it forecast +stronger-than-expected earnings for 2023.Caterpillar shares sank 3.5% as the machinery maker's +fourth-quarter earnings slid by 29%. McDonald's shares dropped +1.3% after the burger chain warned inflation will weigh on +margins in 2023.A busy week for markets will also include reports in coming +days from Apple Inc, Amazon.com Inc and +Alphabet Inc, central bank meetings in Europe and the +monthly U.S. employment report.Advancing issues outnumbered declining ones on the NYSE by a +4.91-to-1 ratio; on Nasdaq, a 3.12-to-1 ratio favored advancers.The S&P 500 posted 10 new 52-week highs and no new lows; the +Nasdaq Composite recorded 100 new highs and 25 new lows.About 12 billion shares changed hands in U.S. exchanges, +compared with the 11.4 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, and Johann M Cherian +and Shreyashi Sanyal in Bengaluru +Editing by Maju Samuel and Matthew Lewis) \ No newline at end of file diff --git a/news/GOOG/2023.01.31/Wall Street rises after encouraging inflation data with Fed on deck.txt b/news/GOOG/2023.01.31/Wall Street rises after encouraging inflation data with Fed on deck.txt new file mode 100644 index 0000000000000000000000000000000000000000..9f256254218edc6f2d77dd49de581dbf2293daf9 --- /dev/null +++ b/news/GOOG/2023.01.31/Wall Street rises after encouraging inflation data with Fed on deck.txt @@ -0,0 +1,48 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. labor costs growth slows in fourth quarter*McDonald's, Caterpillar slip after earnings*Exxon, GM, UPS rise after their results*Fed decision on interest rates on Wednesday*Indexes up: Dow 0.48%, S&P 500 0.73%, Nasdaq 0.95%(Adds midafternoon trading)NEW YORK, Jan 31 (Reuters) - Major U.S. stock indexes +rose on Tuesday as labor cost data encouraged investors about +the Federal Reserve's aggressive approach to taming inflation a +day ahead of the central bank's critical policy decision.Investors also digested a full plate of earnings reports, +with share declines in Caterpillar and McDonald's +following their results capping gains on the Dow.U.S. labor costs increased at their slowest pace in a year +in the fourth quarter as wage growth slowed, Labor Department +data showed. The U.S. central bank on Wednesday is expected to +hike the Fed funds rate by 25 basis points, following a 2022 in +which the Fed aggressively boosted rates to control soaring +inflation."The fact that we have had goods inflation cooling, we have +had housing cool, and the last shoe to drop is probably this +labor services inflation – we may be getting early indications +of that," said Mona Mahajan, senior investment strategist at +Edward Jones.The Dow Jones Industrial Average rose 163.23 points, +or 0.48%, to 33,880.32, the S&P 500 gained 29.51 points, +or 0.73%, to 4,047.28 and the Nasdaq Composite added +107.90 points, or 0.95%, to 11,501.72.Gains were widespread, with 10 of the 11 S&P 500 sectors in +positive territory, led by materials and consumer +discretionary. Utilities were the lone +sector logging a decline.The S&P 500 was on track to post its first increase for the +month of January since 2019, following a brutal 2022 in which +the benchmark index sank 19.4%.Aside from the Fed's rate decision on Wednesday, Chair +Jerome Powell's news conference will be scrutinized for whether +the rate-hiking cycle may be coming to a close and for signs of +how long rates could stay elevated."Jerome Powell and team are probably looking at this easing +of financial conditions that has happened over the last month, +and we will see if they try to push back against it to any +extent," Mahajan said. "I don’t think they would want markets to +move up too far, too fast either."In earnings news, Exxon Mobil Corp shares rose 2% +after the oil major posted a $56 billion net profit for 2022, +setting not only a company record but a historic high for the +Western oil industry.United Parcel Service Inc shares climbed 4.4% after +its quarterly profit topped estimates, while General Motors Co +shares jumped 8% after it forecast stronger-than-expected +earnings for 2023.Caterpillar Inc shares slumped over 3% as the machinery +maker's fourth-quarter earnings slid by 29%. McDonald's shares +slumped 1.8% after the burger chain warned inflation will weigh +on margins in 2023.A busy week for markets will also include reports in coming +days from Apple Inc, Amazon.com Inc and +Alphabet Inc, central bank meetings in Europe and the +monthly U.S. employment report.Advancing issues outnumbered declining ones on the NYSE by a +4.28-to-1 ratio; on Nasdaq, a 3.11-to-1 ratio favored advancers.The S&P 500 posted 6 new 52-week highs and no new lows; the +Nasdaq Composite recorded 73 new highs and 19 new lows. +(Reporting by Lewis Krauskopf in New York, and Johann M Cherian +and Shreyashi Sanyal in Bengaluru +Editing by Maju Samuel and Matthew Lewis) \ No newline at end of file diff --git a/news/GOOG/2023.02.01/Analysis-Hawkish Fed could hobble volatility funds' stock buying spree.txt b/news/GOOG/2023.02.01/Analysis-Hawkish Fed could hobble volatility funds' stock buying spree.txt new file mode 100644 index 0000000000000000000000000000000000000000..7af63222a92ceba088695c458dca1aa8c6e6a08b --- /dev/null +++ b/news/GOOG/2023.02.01/Analysis-Hawkish Fed could hobble volatility funds' stock buying spree.txt @@ -0,0 +1 @@ +The S&P 500's 6.2% surge in January has been accompanied by a drop in measures of volatility across the board. Daily swings in the index over the past month were the smallest since early 2022, while the Cboe Volatility Index also stands near a one-year low. The drop in market gyrations has triggered a buy-signal for certain computer-driven strategies including volatility control funds, risk parity funds and Commodity Trading Advisors (CTAs). GRAPHIC: Volatility drop https://www.reuters.com/graphics/USA-STOCKS/gdvzqdqdxpw/chart.png Broadly known as systematic strategies, these funds have been scooping up between $1 billion and $2 billion a day in U.S. stocks, according to BNP Paribas estimates, helping drive an equity rally that has come despite worries that a hawkish Fed will plunge the U.S. economy into recession."This has definitely been more a flow-driven rally than a shift in the overall fundamental backdrop," said Max Grinacoff, U.S. equity and derivatives strategist at BNP Paribas.Grinacoff estimates these types of funds could deploy another $50 billion-$60 billion of additional buying over the course of a month if realized volatility - a measure of daily stock swings - halves from its current level of around 16%, a level of calm unseen in U.S. stocks since late 2021.Of course, the market will have to navigate a plethora of risks ahead - most prominently the Fed, which concludes its monetary policy meeting on Wednesday. Signs that the central bank is unlikely to pull back on its hawkish monetary policy outlook despite evidence of slowing inflation and softness in the economy could exacerbate recession fears and reignite volatility, forcing the funds to taper purchases or even start selling. Markets widely expect the central bank to raise borrowing costs by another 25 basis points to between 4.50% and 4.75%.Other potential pitfalls include earnings from some of the largest U.S. companies this week, including Apple Inc, Alphabet Inc and Meta Platforms Inc, as well as the closely watched U.S. nonfarm payrolls report on Friday."As we think that technical factors may have played a large role in the market performance so far this year, we expect this to eventually wane as fundamental factors resume the dominant position as market drivers," Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note on Tuesday.FAVORABLE CONDITIONSInvestors said conditions were supportive of a rally at the beginning of the year. The S&P 500's 19.4% drop last year, its worst annual percentage decline since 2008, had prompted market participants - including various volatility-linked strategies - to cut their equity allocations to historically low levels. "We have this trifecta of seemingly depressed equity positioning across three major investor groups: vol target funds, CTAs and hedge funds," said Anand Omprakash, head of derivatives quantitative strategy at Elevation Securities.Volatility control funds have raised their equity allocation to a nine-month high of 57.7%, strategists at Deutsche Bank wrote on Friday.Grinacoff, of BNP Paribas, estimates volatility control funds have assets of about $275 billion, while CTAs, not all of which have a volatility control strategy, as a group have $800 billion allocated across strategies.While that is modest relative to the roughly $34 trillion value of the S&P 500 alone, such funds bear watching since they buy in rising markets and sell when stocks tumble, and can potentially exacerbate downside moves as well as rallies. To be sure, while volatility has fallen from last year's peaks, when the VIX rose as high as 36.55, current levels remain above the index's long-term average, a sign that options investors are likely mindful of the risks ahead, said Garrett DeSimone, head of quantitative research at OptionMetrics."Market volatility measured by VIX remains stuck above the 18 level, which is its long-term average. This indicates a slight anxiety regarding macro outcomes on future volatility," he said. (Reporting by Saqib Iqbal Ahmed in New York; Editing by Ira Iosebashvili and Matthew Lewis)By Saqib Iqbal Ahmed \ No newline at end of file diff --git a/news/GOOG/2023.02.01/Biden moves to slash U.S. credit card fees, app charges.txt b/news/GOOG/2023.02.01/Biden moves to slash U.S. credit card fees, app charges.txt new file mode 100644 index 0000000000000000000000000000000000000000..6678834ea969ce47d3ca963f138604dcce6b678f --- /dev/null +++ b/news/GOOG/2023.02.01/Biden moves to slash U.S. credit card fees, app charges.txt @@ -0,0 +1 @@ +President Joe Biden was also set to urge Congress to ban hidden "junk fees" and penalties that a federal consumer watchdog says are creeping into everyday retail services across industries, driving up consumer costs, including fees airlines charge for family members to sit next to young children, White House officials said.Biden has been beating the drum on inflation, criticizing Republicans who now control the House of Representatives for backing tax measures that he said would benefit the wealthy at the expense of middle-class taxpayers. Biden, who is expected to announce a bid for re-election in the coming weeks, has also been slamming Republicans for their refusal to approve an increase in the U.S. debt ceiling unless there is a deal on spending cuts. Wednesday's announcement coincides with a scheduled meeting between Biden and House Speaker Kevin McCarthy that is likely to mark the start of protracted maneuvering on raising the $31.4 trillion borrowing cap.The Consumer Financial Protection Bureau will propose on Wednesday a rule to ban "excessive" fees that credit card issuers charge for late payments, something the bureau estimated costs consumers $12 billion a year."When someone misses a credit card payment, even if they paid just a day or two late, or even a few hours, they can be hit with a cascading series of fees," CFPB Director Rohit Chopra told reporters in a Tuesday call.Chopra said such fees far exceeded any additional costs that lenders incurred and said the rule would cap a regulatory threshold at $8, a level indicated by CFPB data analysis.Chopra said that after a comment period, the rule could take effect in 2024. However, regulations are frequently subject to challenge and litigation by industry groups that can block or delay them.The National Telecommunications and Information Administration (NTIA), an arm of the Commerce Department, is releasing a report denouncing the market dominance enjoyed by Apple and Google in the app economy, where the vast majority of smartphone users and developers are hemmed inside the tech giants' software ecosystems, which the NTIA said drives up costs and limits innovation.The report calls for greater user control over which applications are available, an end to platform operators' "self-preference" for their own apps, and a ban on requirements that apps use the operators' in-app payments systems.The White House said the Transportation Department on Wednesday will propose regulations to bar airlines from charging family members to be seated next to children age 13 or younger. The department will disclose on a government dashboard which airlines do not charge such fees. Wednesday's announcements will mark the fourth meeting of Biden's Competition Council, created in 2021 when consumer inflation was at 40-year highs and was widely seen as a political headwind ahead of the 2022 midterm elections. (Reporting by Douglas Gillison and David Shepardson; Editing by Leslie Adler)By Douglas Gillison \ No newline at end of file diff --git a/news/GOOG/2023.02.01/EU may miss gigabit target, more investments needed, telecoms group says.txt b/news/GOOG/2023.02.01/EU may miss gigabit target, more investments needed, telecoms group says.txt new file mode 100644 index 0000000000000000000000000000000000000000..777ebec9422b2c8bfb868164f0b4ef2ce54fa34e --- /dev/null +++ b/news/GOOG/2023.02.01/EU may miss gigabit target, more investments needed, telecoms group says.txt @@ -0,0 +1,31 @@ +BRUSSELS, Feb 1 (Reuters) - The European Union risks +missing its target to connect all European households to a +gigabit network by 2030, underscoring the need for more +investments, according to a study commissioned by telecoms +lobbying group ETNO.The study by Analysys Mason comes as the bloc considers the +possibility of getting Alphabet Inc's Google, Meta +, Amazon.com Inc, Netflix , Apple +and Microsoft to bear some of the network +costs.Deutsche Telekom, Orange, Telefonica +, Telecom Italia and their peers say this +should be seen as a fair share contribution from the six content +providers which account for more than half of data internet +traffic.Big Tech sees it as an internet traffic tax at odds with EU +net neutrality rules treating all users equally, saying that +they also invest in their own content delivery networks.Total telecom investment in Europe peaked at 56.3 billion +euros in 2021, the highest since 2016, but still lagged behind +other regions, the report said."Europe continues to trail its peers worldwide in terms of +telecoms investment. Investment per capita adjusted to GDP was +104 euros in Europe in 2021 compared with 260 euros in Japan, +150 euros in the United States and 110 euros in China," the +study said."More investment capacity is needed to accelerate +innovation, but the established current trends place additional +pressure on many operators to sell or separate service and +innovation-related assets," it said.The study also noted the large gap between the returns on +investment for telecoms operators and those for Big Tech."There is an acute discrepancy between the returns on +investment in European telecoms infrastructure and the returns +on investment of the largest services that run over this +infrastructure," it said."When it comes to internet access, it is telecoms operators +that shoulder the investment burden, while in terms of new value +creation it is tech companies that benefit the most." +(Reporting by Foo Yun Chee, Editing by Louise Heavens) \ No newline at end of file diff --git a/news/GOOG/2023.02.01/End of easy-cash era is going to hurt.txt b/news/GOOG/2023.02.01/End of easy-cash era is going to hurt.txt new file mode 100644 index 0000000000000000000000000000000000000000..79a617faba3578dc57c0f2a9f0450deec492b2e0 --- /dev/null +++ b/news/GOOG/2023.02.01/End of easy-cash era is going to hurt.txt @@ -0,0 +1 @@ +U.S. and UK central banks are unwinding stimulus further by offloading bonds they hold, and the European Central Bank will join them soon. Nomura estimates the balance sheets of the three banks will shrink by $3 trillion this year.Graphic: Bloated central bank balance sheets start to shrink https://www.reuters.com/graphics/GLOBAL-MARKETS/znpnbkeaypl/chart.pngTech stocks and crypto currencies look vulnerable. They are among risky assets that soared as cash pumped out by central banks fighting weak inflation in recent years searched for a home."When you have unprecedented monetary tightening, the likelihood is that you get issues that are uncovered - that might be something hidden such as liquidity or something more obvious like pressures in the housing market," said Zurich Insurance Group chief market strategist Guy Miller. We look at some potential pressure points.1/ DARLINGS NO MORE Once darlings of the easy-cash era, tech stocks are being shunned by many investors even after a January bounce as higher rates make it more expensive to take punts on the potential earnings growth of early stage or speculative businesses.When economic uncertainty is high, investors often look for reliable returns from dividends to safeguard portfolios. That makes the likes of tech stalwarts such as Apple, whose shares trade on a dividend yield of less than 1%, look vulnerable. "We're at a stage where very elevated valuations in markets have collided with much less supportive policy," said James Harries, senior fund manager at Troy Asset Management. "So, the outlook is darkening."Tech firms are reversing pandemic-era exuberance, cutting jobs after years of hiring sprees. Google owner Alphabet plans to axe about 12,000 workers; Microsoft, Amazon and Meta are firing almost 40,000. Graphic: Big tech's earnings growth put to the test https://www.reuters.com/graphics/GLOBAL-MARKETS/mypmogzgmpr/chart.png 2/ DEFAULT RISKSConcerns about corporate defaults are mounting as rates rise, although recession worries have eased.S&P Global said Europe had the second-highest default count last year since 2009. It expects U.S. and European default rates to reach 3.75% and 3.25%, respectively, in September 2023 versus 1.6% and 1.4% a year before, with pessimistic forecasts of 6.0% and 5.5% not "out of the question."Man GLG portfolio manager Michael Scott said markets have not fully priced in the risk of higher defaults. Graphic: Corporate default rate may double in 2023 https://www.reuters.com/graphics/GLOBAL-STRESS/dwpkdegzdvm/chart.png3/ GOING PRIVATEPrivate debt markets have ballooned since the financial crisis to $1.4 trillion from $250 billion in 2010.The largely floating-rate nature of the financing appeals to investors, who can reap returns in high single to low double digits, and became popular as plunging rates post-2008 boosted risk assets.Now, a reality check: higher rates imply a heavier burden for companies as recession looms, casting a shadow over their ability to generate sufficient cash to pay ballooning interest costs."What surprises me is that you're almost back to complacency," said Will Nicole, CIO of Private and Alternative Assets at M&G Investments. "We've gone from a position where three months ago everybody was talking about a credit cycle coming through for the first time in decades and now people appear to have forgotten that." Graphic: Direct lending stellar growth https://www.reuters.com/graphics/GLOBAL-CREDIT/PRIVATE/lbpgggwlnpq/chart.png4/CRYPTO WINTER Rising borrowing costs roiled crypto markets in 2022. The price of bitcoin plunged 64% and around $1.3 trillion was wiped off the global cryptocurrency market cap.Bitcoin has rallied recently but caution remains. The collapse of various dominant crypto companies, most notably FTX, left investors shouldering large losses and prompted calls for more regulation.January brought a fresh wave of job cuts as firms brace for the so-called crypto winter, while the lending unit of Genesis recently filed for U.S. bankruptcy protection, owing creditors at least $3.4 billion. Graphic: Pain in crypto land https://www.reuters.com/graphics/GLOBAL-MARKETS/lgpdknmayvo/chart.png5/FOR SALEReal estate markets, first responders to rate hikes, started cracking last year and 2023 will be tough with U.S. house prices expected to drop 12%.Fund managers surveyed by BofA see China's troubled real estate sector as the second most likely source of a credit event. European real estate is reporting distress levels not seen since 2012, according to data from law firm Weil, Gotshal & Manges.How the sector services its debt is in focus and officials warn European banks risk significant profit hits from sliding house prices.Real estate investment management firm AEW estimates the UK, France and Germany could face a 24 billion euro debt funding gap through 2025. Luckily, bank balance sheets are better positioned to absorb losses, so few expect a 2008 repeat. Graphic: Distress in Europe's real estate sector rises https://www.reuters.com/graphics/GLOBAL-STRESS/byprlryzbpe/chart.png($1 = 0.9192 euros) (Reporting by Chiara Elisei, Dhara Ranasinghe, Naomi Rovnick, Elizabeth Howcroft and Yoruk Bahceli; Graphics by Kripa Jayaram and Vincent Flasseur; Editing by Dhara Ranasinghe and Christina Fincher) \ No newline at end of file diff --git a/news/GOOG/2023.02.01/European telecoms' advertising venture set for EU approval -sources.txt b/news/GOOG/2023.02.01/European telecoms' advertising venture set for EU approval -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..b6cb7ea9812dd56ae3deebbcafb7344f6298cca4 --- /dev/null +++ b/news/GOOG/2023.02.01/European telecoms' advertising venture set for EU approval -sources.txt @@ -0,0 +1,25 @@ +(Adds European Commission, Vodafone decline comment, Telefonica +comment, no immediate comment from others, details)BRUSSELS, Feb 1 (Reuters) - Deutsche Telekom, +Orange, Telefonica and Vodafone's +plan to take on Big Tech with their own advertising joint +venture is set to win unconditional EU antitrust approval, +people familiar with the matter said.The joint venture marks the telecoms sector's first attempt +to take on Meta and Alphabet'S Google in the +lucrative online advertising sector and diversify their revenue +streams.Google is the world's leading seller of online advertising, +well ahead of Meta, with the business generating about 80% of +its revenue.The European Commission, which is scheduled to decide on the +deal by Feb. 10 after its preliminary review, and Vodafone +declined to comment.Telefonica referred to the joint filing with the EU +antitrust watchdog. Deutsche Telekom and Orange did not +immediately respond to requests for comment.The EU competition enforcer describes the joint venture as a +privacy-led, digital identification solution to support the +digital marketing and advertising activities of brands and +publishers.Earlier this week, pan-European consumer lobbying group BEUC +voiced concerns over how data would be collected by the joint +venture and how the partners aim to get users' consent.It urged EU antitrust chief Margrethe Vestager to ensure +that the joint venture complies with the bloc's privacy rules +and the companies do not thwart rivals which may offer a more +privacy friendly product. +(Reporting by Foo Yun Chee, Editing by Louise Heavens and +Elaine Hardcastle) \ No newline at end of file diff --git a/news/GOOG/2023.02.01/Exclusive-Big Telecoms advertising venture set to win EU antitrust nod - sources.txt b/news/GOOG/2023.02.01/Exclusive-Big Telecoms advertising venture set to win EU antitrust nod - sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..f134bf76ea2b0e19e2e97bde7983725bec3899e9 --- /dev/null +++ b/news/GOOG/2023.02.01/Exclusive-Big Telecoms advertising venture set to win EU antitrust nod - sources.txt @@ -0,0 +1 @@ +The joint venture marks the telecoms sector's first attempt to take on Meta and Alphabet'S Google in the lucrative online advertising sector and diversify their revenue streams. (Reporting by Foo Yun Chee, Editing by Louise Heavens) \ No newline at end of file diff --git a/news/GOOG/2023.02.01/Exclusive-EU may miss gigabit target, more investments needed, telcoms group says.txt b/news/GOOG/2023.02.01/Exclusive-EU may miss gigabit target, more investments needed, telcoms group says.txt new file mode 100644 index 0000000000000000000000000000000000000000..553f92efc4beeed5fb6168b856beaa5fb4d0015f --- /dev/null +++ b/news/GOOG/2023.02.01/Exclusive-EU may miss gigabit target, more investments needed, telcoms group says.txt @@ -0,0 +1 @@ +BRUSSELS (Reuters) - The European Union risks missing its target to connect all European households to a gigabit network by 2030, underscoring the need for more investments, according to a study commissioned by telecoms lobbying group ETNO.The study by Analysys Mason comes as the bloc considers the possibility of getting Alphabet Inc's Google, Meta, Amazon.com Inc, Netflix , Apple and Microsoft to bear some of the network costs.Deutsche Telekom, Orange, Telefonica, Telecom Italia and their peers say this should be seen as a fair share contribution from the six content providers which account for more than half of data internet traffic. (Reporting by Foo Yun Chee, Editing by Louise Heavens)By Foo Yun Chee \ No newline at end of file diff --git a/news/GOOG/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt b/news/GOOG/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..4d971c2fd50c98f9986744551e5f5b1613fdce60 --- /dev/null +++ b/news/GOOG/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt @@ -0,0 +1 @@ +The Fed is widely seen as raising its target interest rate by a quarter of a percentage point in its first policy meeting of the year, after the rapid increases in 2022 to tame decades-high inflation.Investors will also likely parse Chair Jerome Powell news conference for clues on the trajectory of future rate hikes.Money markets are betting on one more 25 basis point (bps) hike in March, and a terminal rate of 4.9% in June. "A rise by 25 bps is likely to be interpreted as a more cautious move... officials will hope that the central bank's aggressive tightening slows economic activity and wage growth without causing a recessionary spike in the unemployment rate," said Richard Flynn, UK managing director at Charles Schwab.Recent readings have indicated that inflation is easing, with the Fed also looking at data which will determine the resilience of the labor market and the pace of wage growth.The ADP National Employment report, due at 0815 a.m. ET, is expected to show that private payrolls increased in January by 178,000, which is less than the 235,000 rise in the previous month, as per a Reuters poll. The survey will be seen as a precursor to the Labor Department's more comprehensive reading on nonfarm payrolls for January on Friday. On Tuesday, Wall Street indexes reversed declines and rallied when the Fed's preferred wages gauge, the U.S. Employment Cost index, showed its smallest increase in a year during the fourth quarter.Halfway into the busiest week of earnings season, videogame publisher Electronic Arts Inc slumped 10.1% in premarket trading on lowering its annual bookings forecast.Snap Inc tumbled 15% after the social media company said it expects current-quarter revenue to decline by as much as 10%. Other social media and internet firms like Meta Platforms Inc, Alphabet Inc and Pinterest were flat to 0.7% lower. Facebook parent Meta is expected to report quarterly results after the bell.Bucking the recent nervousness among chipmakers, Advanced Micro Devices Inc added 3.4% after projecting that it expects its business to improve in the second half of the year, boosting hopes that it is gaining on rival Intel Corp. Intel shares dipped 0.1%. At 7:25 a.m. ET, Dow e-minis were down 122 points, or 0.36%, S&P 500 e-minis were down 7.25 points, or 0.18%, and Nasdaq 100 e-minis were up 7.5 points, or 0.06%. Dow Jones Industrial Average component Amgen Inc fell 1.1% as the drugmaker said its fourth-quarter revenue fell slightly. As of Tuesday, quarterly earnings of S&P 500 firms are expected to decline 2.4%, improving from 3% decline in the previous session as per Refinitiv. (Reporting by Johann M Cherian and Shreyashi Sanyal in Bengaluru; Additional reporting by Sruthi Shankar; Editing by Sriraj Kalluvila)By Johann M Cherian \ No newline at end of file diff --git a/news/GOOG/2023.02.01/GoodRx pays $1.5 million to settle health privacy allegations.txt b/news/GOOG/2023.02.01/GoodRx pays $1.5 million to settle health privacy allegations.txt new file mode 100644 index 0000000000000000000000000000000000000000..7a88d8c6083e197536569585f018b7e126bf3648 --- /dev/null +++ b/news/GOOG/2023.02.01/GoodRx pays $1.5 million to settle health privacy allegations.txt @@ -0,0 +1,24 @@ +WASHINGTON, Feb 1 (Reuters) - U.S. healthcare firm +GoodRx Holdings has agreed to pay $1.5 million to +settle allegations that it failed to notify customers that it +shared personal health information with Alphabet's +Google, Meta's Facebook and others, the Federal Trade +Commission said on Wednesday.Under the terms of the settlement, GoodRx will be barred +from sharing user health data with other companies to use for +advertising."Digital health companies and mobile apps should not cash in +on consumer’s extremely sensitive and personally identifiable +health information," said Samuel Levine, director of the FTC's +Bureau of Consumer Protection, in a statement.GoodRx, which had more than 55 million people use its +website or app in the past six years, is a platform that offers +drug discounts while collecting health information from users +and their pharmacy benefit managers.GoodRx promised users it would never share health +information with advertisers but gave information to Google, +Facebook, Criteo and others, the agency said in their complaint.GoodRx said in a statement the issue in the settlement was +resolved three years ago before the agency began its probe."We do not agree with the FTC’s allegations and we admit no +wrongdoing. Entering into the settlement allows us to avoid the +time and expense of protracted litigation," the company said in +a statement.The settlement is the first under the FTC's Health Breach +Notification Rule, the agency said.Under the settlement, the company is also required to put +limits on how long it keeps personal and health information, and +to publicly post the retention schedule, the agency said. +(Reporting by Diane Bartz; Editing by Josie Kao) \ No newline at end of file diff --git a/news/GOOG/2023.02.01/Marketmind: Markets go all in for disinflation.txt b/news/GOOG/2023.02.01/Marketmind: Markets go all in for disinflation.txt new file mode 100644 index 0000000000000000000000000000000000000000..af6a850d8b2831b2b3306fe50fb2a5f1865feda2 --- /dev/null +++ b/news/GOOG/2023.02.01/Marketmind: Markets go all in for disinflation.txt @@ -0,0 +1 @@ +Push back? What push back? The main theme ahead of the Fed announcement was that Chair Jerome Powell would definitely, totally, absolutely push back against the recent rapid easing in market conditions given inflation was still sky high.Instead, Powell seemed to go out of his way to do the opposite. The very first question in the new conference invited him to scold markets, and he notes conditions had tightened a lot last year.Given another opportunity, he says he's "not particularly concerned" about market pricing, and later "I'm not going to try to persuade people that have a different forecast" on inflation and policy.Yes there were caveats about it being too early to declare victory and policy will need to be more restrictive. But even then he was blase about another "couple of hikes", and spent more time trying out his new favourite word "disinflation".A pdf search of the conference shows disinflation or disinflationary was used 13 times, compared to twice at his December event. For sure, service inflation had yet to turn the corner, but he expected to see that "fairly soon."For markets, this is like stealing the last cookie in the cookie jar, getting caught red handed, and, instead of a good spanking, you get another cookie, with chocolate on. So of course Treasuries rallied, with 10s down 9bp and 2s 10bp in the wake of the conference and a bit more in Asia. Next targets are the Jan lows at 3.321% and 4.04%.Fed funds partied by pricing in more rate cuts with Fed funds seen at 4.40% by end 2023 and 3.0% by the close of 2024.The euro jumped to a 10-month peak of $1.1034 and could go further if ECB chief Christine Lagarde sounds as hawkish as everyone seems to expect after today's policy meeting.The market is almost fully priced for a hike of 50bp and the promise of more to come, though it was notable that Euribor rallied overnight to imply deeper cuts next year.The ECB is also set to reveal how exactly it plans to reduce the multi-trillion euro stock of bonds on its balance sheet.Across the Channel, the Bank of England is also seen hiking 50bp today, though with some outside risk of 25bp.The following media conference by Governor Andrew Bailey and colleagues is likely to be a tough one, assuming they can even get to it given all the strikes. The IMF, and many others, are predicting recession but inflation is at 10.5% and wage growth running red hot - good luck squaring that circle.For Wall Street, it's a massive earnings day and Meta helped overnight by announcing a $40 billion buy-back that sent its shares up 18%.Healthcare companies BristolMeyers-Squibb Co, Eli Lilly and Co and Merck & Co are due to report before trading commences on Wall Street. The heavy-hitting trifecta of Apple Inc, Amazon.com and Alphabet Inc are after the bell.Key developments that could influence markets on Thursday:- BoE rate decision is at 1200 GMT and the ECB at 1315 GMT. BoE Gov Bailey speaks to reporters at 1230 GMT and ECB President Lagarde at 1345 GMT. (Reporting by Wayne Cole; Editing by Stephen Coates)By Wayne Cole \ No newline at end of file diff --git a/news/GOOG/2023.02.01/Marketmind: Riding the Fed dragon.txt b/news/GOOG/2023.02.01/Marketmind: Riding the Fed dragon.txt new file mode 100644 index 0000000000000000000000000000000000000000..b49b3448571c32affa388981661375bbe43b9edd --- /dev/null +++ b/news/GOOG/2023.02.01/Marketmind: Riding the Fed dragon.txt @@ -0,0 +1 @@ +Asian markets are set for an upbeat Thursday as U.S. stocks whipsawed to a higher close after the Federal Reserve delivered an expected 25 basis point interest rate hike and warned it still expects 'ongoing increases' as it battles inflation.All three major U.S. stock indexes reversed earlier losses to sail across the finish line in positive territory, under assurances from Fed Chairman Jerome Powell that he believes price growth can be tamed "without a significant economic decline."In his remarks and Q&A session following the policy decision, Powell said "there's more work to do," before its goals are met, but acknowledged data shows inflation is beginning to cool."The door is cracking open to end rate hikes, but they still have a chance for one more rate hike at the next meeting," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "Inflation data continues to show major improvements, which is exactly what the Fed needs to take their foot off the pedal."The European Central Bank and the Bank of England are expected to hike their key interest rates by 50 basis points on Thursday.On the economic front, restrictive central bank policies appear to be dampening factory activity, with purchasing managers' indexes around the world either in contraction or struggling to expand.Fourth-quarter earnings season is running on all cylinders, with 190 of the companies in the S&P 500 having reported already. Of those, 69% have delivered consensus-beating profits, according to Refinitiv.Shares of Meta Platforms Inc jumped more than 18% in extended trading after the social media bellwether forecast first-quarter revenue above Wall Street estimates, signaling a rebound in demand for digital ads after months of weak sales.Healthcare companies BristolMeyers-Squibb Co, Eli Lilly and Co and Merck & Co are due to report before trading commences on Wall Street on Thursday, with the heavy-hitting triple play of Apple Inc, Amazon.com and Alphabet Inc expected after the session ends.Elsewhere, the U.S. dollar lost ground against a basket of world currencies, while crude prices settled sharply lower due to a buildup of U.S. oil stocks.Here are some key developments that could provide more direction to markets on Thursday:- South Korea releases CPI inflation data (Jan)- Australia posts building approvals (Dec)- U.S. planned layoffs (Jan), weekly jobless claims land before the opening bell, factory orders (Dec) shortly after (Reporting by Stephen Culp; Editing by Deepa Babington)By Stephen Culp \ No newline at end of file diff --git a/news/GOOG/2023.02.01/Meta stuns Street with lower costs, big buyback, upbeat sales.txt b/news/GOOG/2023.02.01/Meta stuns Street with lower costs, big buyback, upbeat sales.txt new file mode 100644 index 0000000000000000000000000000000000000000..287e985e84f29d0613d2ba383e41ce82d1865ca6 --- /dev/null +++ b/news/GOOG/2023.02.01/Meta stuns Street with lower costs, big buyback, upbeat sales.txt @@ -0,0 +1,61 @@ +Feb 1 (Reuters) - Meta Platforms Inc's stricter +cost controls this year and a new $40 billion share buyback sent +shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 +the "Year of Efficiency."The parent of Instagram and Facebook, which has fallen on +hard times amid a broad post-pandemic slump in digital ads, is +focused on improving its content recommendations powered by +artificial intelligence and its ad targeting systems to keep +users clicking.Meanwhile, it will cut costs in 2023 by $5 billion to a +range of $89 billion to $95 billion, a steep drop from the $94 +billion to $100 billion it previously forecast, and it projected +first-quarter sales that could beat Wall Street estimates.Meta stock surged nearly 19% in after-hours trade. If gains +hold on Thursday, it would set up the shares for their biggest +intraday surge in a decade and added more than $75.5 billion to +its existing $401 billion market capitalization.Zuckerberg described the focus on efficiency as part of the +natural evolution of the company, calling it a "phase change" +for an organization that once lived by the motto "move fast and +break things.""We just grew so quickly for like the first 18 years," +Zuckerberg said in a conference call. "It's very hard to really +crank on efficiency while you're growing that quickly. I just +think we're in a different environment now."The cost cuts reflect Meta's updated plans for lower +data-center construction expenses this year as part of a shift +to a structure that can support both AI and non-AI work, it said +in a statement.The digital ad giant faced a brutal 2022 as companies cut +back on marketing spending due to economic worries, while rivals +like TikTok captured younger users and Apple Inc's +privacy updates continued to challenge the business of placing +targeted ads.Meta in November cut more than 11,000 jobs in response, a +precursor to the tens of thousands of layoffs in the tech +industry that followed."Our management theme for 2023 is the 'Year of Efficiency' +and we're focused on becoming a stronger and more nimble +organization," Zuckerberg said in a statement.Monetization efficiency for Reels on Facebook, a short-form +video format, had doubled in the past six months and the +business was on track to roughly break even by the end of 2023 +or early 2024 and grow profitably after that, he said on the +conference call.INVESTMENTS STARTING TO PAY OFF"Meta's better-than-feared results should refute concerns +over the state of the digital advertising industry following +Snap's horrible guidance earlier this week," said Jesse Cohen, +senior analyst at Investing.com."Despite all the challenges Meta must deal with, there are +signs the business is still doing well," Cohen said.Shares of peer Alphabet Inc were up 3.3% while +Snap Inc stock rose 1% in after-hours trade on +Wednesday.On the conference call, executives said Meta's +investments in AI-surfaced content and TikTok competitor Reels +were starting to pay off. The company also has been using AI to +increase automation for advertisers and target ads using less +personal data, resulting in higher return on ad spend.Meta forecast first-quarter revenue between $26 billion +and $28.5 billion. That was in with analysts' average estimates +of $27.14 billion, according to Refinitiv.Zuckerberg said generative AI - technology for producing +original prose, imagery or computer code on command - would be +the company's other big theme for this year, alongside +efficiency.Meta was planning to launch several new products that +would "empower creators to be way more productive and creative," +he said, while cautioning about the cost associated with +supporting the technology for a large user base.However, net income for the fourth quarter ended Dec. 31 +fell to $4.65 billion, or $1.76 per share, compared with $10.29 +billion, or $3.67 per share, a year earlier. Analysts had +expected a profit of $2.22 per share.The decline was largely due to a $4.2 billion charge related +to cost-cutting moves such as layoffs, office closures and the +data center strategy overhaul.The company previously said it was planning to account for +much of that cost in 2023.(Reporting by Nivedita Balu in Bengaluru, Katie Paul in New +York, Sheila Dang in Dallas and Sayantani Ghosh in San +Francisco; Editing by Matthew Lewis and Bradley Perrett) \ No newline at end of file diff --git a/news/GOOG/2023.02.01/Microsoft rolls out ChatGPT-powered Teams Premium.txt b/news/GOOG/2023.02.01/Microsoft rolls out ChatGPT-powered Teams Premium.txt new file mode 100644 index 0000000000000000000000000000000000000000..a66457cfb84ffc2e2ad032873e2aeec2c244a0a9 --- /dev/null +++ b/news/GOOG/2023.02.01/Microsoft rolls out ChatGPT-powered Teams Premium.txt @@ -0,0 +1 @@ +The premium service will cost $7 per month in June before increasing to $10 in July, Microsoft said.OpenAI-owned ChatGPT will generate automatic meeting notes, recommend tasks and help create meeting templates for Teams users.Microsoft, which announced a multi-billion dollar investment in OpenAI earlier this month, has said it aims to add ChatGPT's technology into all its products, setting the stage for more competition with rival Alphabet Inc's Google.The chatbot, which can produce prose or poetry on command, is at the forefront of generative AI, a space where more and more big tech companies are funneling their resources in.ChatGPT on Wednesday announced a $20 per-month subscription plan, which will let subscribers receive access to faster responses and priority access to new features and improvements. (Reporting by Chavi Mehta in Bengaluru; Editing by Subhranshu Sahu) \ No newline at end of file diff --git a/news/GOOG/2023.02.01/Snap's earnings may hold positive news for Meta, Google -analysts.txt b/news/GOOG/2023.02.01/Snap's earnings may hold positive news for Meta, Google -analysts.txt new file mode 100644 index 0000000000000000000000000000000000000000..18c99ae5bc6f6b5b39d85e96dbb7a9960ed1c9cb --- /dev/null +++ b/news/GOOG/2023.02.01/Snap's earnings may hold positive news for Meta, Google -analysts.txt @@ -0,0 +1 @@ +Snap said its direct response business geared towards driving product sales or website visits rose 4% in October-December. But, revenue from brand advertising, aimed at promoting a brand's image, declined 11%, the company said in its quarterly earnings report on Tuesday.That could "be viewed as a healthy sign for Meta and Google," whose businesses are tuned to direct response advertisers, said Mark Shmulik, senior analyst at research firm Bernstein. Alphabet's Google, the world's largest digital advertising platform, has long fared better than other ad-dependent companies because brands consider ads on Google searches crucial to driving website visits or other consumer actions. Similarly, Meta has said in previous quarters that the bulk of its revenue comes from direct response advertising. Facebook and Instagram reach billions of users, turning them a key part of the marketing strategies of many brands. "Snap is impacted by the reality that it has significant brand advertising exposure (which is getting hit harder than direct response)," said Evercore ISI analyst Mark Mahaney.Headwinds for Meta and Google could be notably less severe, he added.Snap's shares slumped 14% on Tuesday after it projected a decline in current-quarter revenue by as much as 10%. The shares extended the losses on Wednesday, falling about 15% premarket. The weak outlook pulled down the shares of rivals Meta, Google, and Pinterest, which also earns revenue by selling digital advertising, on Tuesday.Analysts expect Meta to report a 6.5% fall in December quarter revenue when it reports results on Wednesday, according to Refinitiv, its third consecutive quarter of decline. Alphabet will report results on Thursday, and analysts expect revenue to be unchanged from a year earlier.Snap's challenges, including privacy changes on Apple Inc devices that have made it harder for marketers to collect data, are not unique to the company. But it has the "added challenge of a being a small player," said Jasmine Enberg, principal analyst at Insider Intelligence."Advertisers are turning to tried and true platforms." (Reporting by Sheila Dang in Dallas and Nivedita Balu in Bengaluru; Editing by Dhanya Ann Thoppil)By Sheila Dang and Nivedita Balu \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Alphabet : Q4 Earnings Snapshot.txt b/news/GOOG/2023.02.02/Alphabet : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..614f56503c7f8a3f2684f8fc795bb59e85c2515b --- /dev/null +++ b/news/GOOG/2023.02.02/Alphabet : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +MOUNTAIN VIEW, Calif. (AP) _ Alphabet Inc. (GOOGL) on Thursday reported fourth-quarter net income of $13.62 billion.The Mountain View, California-based company said it had profit of $1.05 per share.The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.The internet search leader posted revenue of $76.05 billion in the period. After subtracting Alphabet's advertising commissions, revenue was $63.12 billion, which also fell short of Street forecasts. Ten analysts surveyed by Zacks expected $63.15 billion.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GOOGL at https://www.zacks.com/ap/GOOGLCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git "a/news/GOOG/2023.02.02/Alphabet cfo says 'very focused' on google cloud profitability\342\200\246.txt" "b/news/GOOG/2023.02.02/Alphabet cfo says 'very focused' on google cloud profitability\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..2d1b398308935afb6a305d54755a1d51961d2066 --- /dev/null +++ "b/news/GOOG/2023.02.02/Alphabet cfo says 'very focused' on google cloud profitability\342\200\246.txt" @@ -0,0 +1 @@ +ALPHABET CFO SAYS 'VERY FOCUSED' ON GOOGLE CLOUD PROFITABILITY \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Alphabet posts lower Q4 profit amid ad squeeze, competition.txt b/news/GOOG/2023.02.02/Alphabet posts lower Q4 profit amid ad squeeze, competition.txt new file mode 100644 index 0000000000000000000000000000000000000000..ac30cdec54a911d7f2bb426008a0db497c9ebe42 --- /dev/null +++ b/news/GOOG/2023.02.02/Alphabet posts lower Q4 profit amid ad squeeze, competition.txt @@ -0,0 +1 @@ +Google's parent company Alphabet on Thursday posted lower profit and a small revenue increase for last year's fourth quarter, as a decline in online ad spending and competition from rivals weigh on the search giant.While overall revenue grew, advertising revenue fell by nearly 4% and revenue at YouTube declined 8% year-over-year. That appeared to spook investors, who sent the company's stock lower in after-hours trading.The company based in Mountain View, California, said it earned $13.62 billion, or $1.05 per share, in the October-December quarter. That's down 34% from $20.64 billion, or $1.53 per share, in the same period a year earlier.Revenue inched 1% higher to $76.05 billion from $75.33 billion.Analysts expected Alphabet to post earnings of $1.18 per share on revenue of $76.2 billion for period, according to FactSet Research.Alphabet, like Facebook parent Meta, Amazon and other tech companies, is navigating a rough economic patch that's especially hurting the online advertising market.Last month, Alphabet announced it was cutting 12,000 jobs, or about 6% of its workforce. It was the company’s biggest-yet round of layoffs and adds to tens of thousands of other job losses recently announced by Microsoft, Amazon, Meta and other tech companies that are tightening their belts in the face of a darkening outlook for the industry.In response to the layoffs, Google's unionized workers, members of the Alphabet Workers Union-CWA rallied outside of the company's New York City office during the company's earnings call.“Alphabet is one of the most profitable companies in the world, and well positioned to weather any economic storm. Yet instead our executives decided to layoff 12,000 of our coworkers, including many on medical or parental leave, as well as many with over a decade of loyal service,” the union said in a statement.Alphabet is contending with a “challenging” economic climate and is working to reengineer its cost structure to build “financially sustainable, vibrant growing businesses” across the company, CEO Sundar Pichai said.“Our long-term investments in deep computer science make us extremely well-positioned as AI reaches an inflection point, and I’m excited by the AI-driven leaps we’re about to unveil in search and beyond," Pichai said in a statement.Google is facing some competition in artificial intelligence from Microsoft, which last month announced it is making a “multiyear, multibillion dollar investment” in the artificial intelligence startup OpenAI, the maker of the wildly popular ChatGPT and other tools that can write readable text and generate new images.The technology could help Microsoft’s own search engine, Bing, compete with Google in answering search queries with more complete answers instead of just links.Pichai also touted “great momentum" in Cloud, YouTube subscriptions, and Pixel devices, signaling to investors that Alphabet has plenty revenue sources outside of advertising to grow its business.Nonetheless, advertising still makes up the bulk of Alphabet's revenue.Beyond the economic squeeze, Google is also facing regulatory pressure. Last month, the Justice Department and eight states filed an antitrust suit against Google, seeking to shatter its alleged monopoly on the entire ecosystem of online advertising as a hurtful burden to advertisers, consumers and even the U.S. government.The government alleged in the complaint that Google is looking to “neutralize or eliminate” rivals in the online ad marketplace through acquisitions and to force advertisers to use its products by making it difficult to use competitors’ offerings.Shares in Alphabet Inc. fell about 4% in extended trading after the company's earnings report came out.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git "a/news/GOOG/2023.02.02/Alphabet revenue misses estimates as ad business takes a hit\302\240.txt" "b/news/GOOG/2023.02.02/Alphabet revenue misses estimates as ad business takes a hit\302\240.txt" new file mode 100644 index 0000000000000000000000000000000000000000..0e34ae90039f5de9d66a0fbe0ebcf23b59545fd2 --- /dev/null +++ "b/news/GOOG/2023.02.02/Alphabet revenue misses estimates as ad business takes a hit\302\240.txt" @@ -0,0 +1 @@ +Revenue rose to $76.05 billion in the fourth quarter from $75.33 billion a year ago. Analysts were expecting $76.53 billion, according to IBES data from Refinitiv. (Reporting by Nivedita Balu in Bengaluru; Editing by Devika Syamnath) \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Amazon workers in Barcelona strike over warehouse closure.txt b/news/GOOG/2023.02.02/Amazon workers in Barcelona strike over warehouse closure.txt new file mode 100644 index 0000000000000000000000000000000000000000..2c2dbbf6ab16cbec2324cf16245572a3e189753f --- /dev/null +++ b/news/GOOG/2023.02.02/Amazon workers in Barcelona strike over warehouse closure.txt @@ -0,0 +1,32 @@ +MADRID, Feb 2 (Reuters) - Workers at an Amazon +logistics centre on the outskirts of Barcelona protested on +Thursday on the second day of an indefinite strike sparked by +the company's plans to shut down the warehouse and relocate +employees to other provinces.They have staged pickets at the entrances to the warehouse, +but union leaders said they were allowing truck drivers to enter +and leave the centre where 800 people work and accused Amazon of +acting "in bad faith" by calling riot police to clear the area +on the first day.Amazon did not immediately respond to a request for comment.On Jan. 11, the delivery giant announced it would close the +warehouse in the Martorelles suburb and shift its activity to +the city of Zaragoza, some 300 km (186 miles) west of Barcelona.While Amazon said all employees would be transferred to +other logistics centres in Spain without any job losses, trade +unions described the move as "disguised layoffs" and said the +collective bargaining deals in other provinces would result in +worse pay conditions for workers."Does Amazon really need to make more profit? It has more +millions than entire countries," Elisenda Mas, a spokesperson +for Spain's largest union CCOO, told Reuters. "It's shameful."She said that Amazon's latest offer for employees willing to +move to Zaragoza or to Figueres in the neighbouring province of +Girona - located 125 km north of Barcelona - was a one-off +relocation bonus of 3,000 euros ($3,280) plus an unspecified +amount spread out in 12 monthly instalments.But the separate collective bargaining agreement in those +provinces would entail a pay cut of at least 700 euros per +month, she said, adding that moving away from Barcelona, where +her husband works and her child attends school, was not a viable +option.Striking workers are asking to be relocated to other Amazon +warehouses within the province of Barcelona.Last month, Amazon announced more than 18,000 job cuts +globally, mainly impacting its e-commerce and human resources +divisions, amid similar moves by tech companies such as Meta +or Alphabet. +($1 = 0.9147 euros) +(Reporting by David Latona; Editing by Andrei Khalip and +Barbara Lewis) \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Apple, Alphabet miss Wall Street expectations.txt b/news/GOOG/2023.02.02/Apple, Alphabet miss Wall Street expectations.txt new file mode 100644 index 0000000000000000000000000000000000000000..c08571fa7df1d77a5c30e4e7856bfad2d2695100 --- /dev/null +++ b/news/GOOG/2023.02.02/Apple, Alphabet miss Wall Street expectations.txt @@ -0,0 +1 @@ +In results reported on Thursday, Apple missed profits expectations for the first time since 2016.Sales fell 5% to $117 billion, down in every part of the world last quarter.Part of the problem: weak iPhone sales.COVID lockdowns in China disrupted production.Demand fell in China, too... and overall, iPhone sales are down around 8% compared to the year before.Shares in the tech giant fell 5% after the results came out.It was a slightly rosier picture at Amazon.Its holiday revenue beat expectations, with early holiday shopping sales helping, to a point. Still, the boost may be short-lived.Amazon is already warning it may not make any profit at all this quarter.It doesn't think layoffs will do enough to blunt the impact of consumer clampdowns on spending. Facing high inflation and an uncertain economy, CEO Andy Jassy wants to slash costs.It's a similar story at Google parent Alphabet, where chief executive Sundar Pichai said the company was on a journey to "re-engineer" its cost structure.Both echoed comments from Meta boss Mark Zuckerberg the day - before who placed emphasis on "cost efficiencies." Alphabet also fell short of profit and revenue expectations.Overall, Alphabet's net income fell to $13.62 billion from $20.64 billion a year earlier.Shares there were down about 4 percent in after-hours trading.The stock lost about 40 percent of its value last year.Alphabet has also announced plans to slash 12,000 jobs, or about 6% of its overall workforce.Apple is one of the few large tech firms that hasn't announced big layoffs so far. \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt b/news/GOOG/2023.02.02/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt new file mode 100644 index 0000000000000000000000000000000000000000..49b75bffee6c6e5407c3df485270870390f67198 --- /dev/null +++ b/news/GOOG/2023.02.02/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt @@ -0,0 +1 @@ +Overnight, markets sensed the end of the massive global tightening cycle, after policymakers in Britain and Europe signalled their intention to pause, sending local bonds rallying and currencies lower. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.5% on Friday, dragged down by a 0.9% slump in Chinese bluechips and a 1.2% tumble in Hong Kong's Hang Seng index. Japan's Nikkei outperformed, rising 0.6%. Disappointment over earnings results from Google, Apple and Amazon tempered sentiment. S&P 500 futures slid 0.5% and Nasdaq futures fell 1.4% on Friday, . Tech shares took a beating in Thursday's after-hours trading, with shares of Apple, Amazon and Google parent Alphabet all tumbling. That took the shine off a strong regular trading session on Thursday, when the S&P climbed 1.5% and the Nasdaq surged 3.3%. The uptick built on strong gains from the previous day after the Federal Reserve Chair Jerome Powell said disinflationary pressures are underway in the economy, raising hopes of an imminent pause to its monetary tightening streak. Apple projected another revenue decline in the start of the year, Amazon warned that its operating profit could fall to zero in the current quarter, and Google parent Alphabet missed expectations in its fourth-quarter profit and revenue. Investors are also watching the fallout from this week's plunge in shares of India's Adani group, after market losses amounted to more than $100 billion in the wake of a U.S. short-seller's report.On Thursday, the European Central bank (ECB) and Bank of England (BoE) hiked rates by 50 basis points each, with the BoE saying the tide was turning against inflation and the ECB indicating at least one more hike was on the horizon before re-evaluating its rate hike path. Markets reacted by pushing European yields sharply lower, with the ten-year German bunds falling 22.6 basis points to 2.065%, the biggest drop since 2011, and Italian bonds tumbling 40 bps to 3.887%, the most since 2020, on hopes that the tightening from ECB will end soon. "The wash-up is that the BoE meeting was dovish, and the ECB is now firmly open-minded and data-dependent, and the Fed chose not to fight the market and the market feels validated by that," said Chris Weston, head of research at Pepperstone. Alan Ruskin, macro strategist at Deutsche Bank, said given the current market price action ahead of the U.S. payrolls data, a softer report would be regarded as endorsing all the favourite trades of the year. "Not least it would provide the most important evidence to date to suggest that the market's rates pricing is more appropriate than the Fed's own more hawkish signalling," said Ruskin. Analysts expect 185,000 jobs were added last month, the lowest since January 2021, unemployment edged up to 3.6%, and hourly wage inflation to stay flat at 0.3% on a monthly basis, suggesting the strong labour market might have started to ease up. Futures markets still favour another 25-basis-point hike from the Fed at its March policy meeting, while implying that might be the end of its current tightening cycle. They have also priced in one rate cut by the end of this year. In the currency markets, the euro extended losses to $1.0891, pulling further away from the ten-month top of $1.1033 touched on Thursday. The sterling fell to $1.2206 on Friday, the lowest in more than two weeks, after tumbling 1.2% the previous session. That helped the U.S. dollar to recoup most of its post-Fed losses, with the dollar index now standing at 101.81, away from its nine-month low of 100.80.Treasury yields held largely steady. The yield on benchmark 10-year Treasury notes eased 2 basis points to 3.3799%, while the two-year yield, which rises with traders' expectations of higher Fed fund rates, was mostly flat at 4.0959%. In the oil market, Brent crude futures rose 0.3% to $82.41 while U.S. West Texas Intermediate (WTI) crude also settled up 0.3%, at $76.09.Gold was slightly higher. Spot gold was traded at $1916.1 per ounce. (Editing by Shri Navaratnam)By Stella Qiu \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Big Tech earnings show digital ads market not out of the woods.txt b/news/GOOG/2023.02.02/Big Tech earnings show digital ads market not out of the woods.txt new file mode 100644 index 0000000000000000000000000000000000000000..c92205c56f12bd5e265845b220654ec5aa5296a7 --- /dev/null +++ b/news/GOOG/2023.02.02/Big Tech earnings show digital ads market not out of the woods.txt @@ -0,0 +1 @@ +The health of the advertising industry closely mirrors the economy, and many advertisers have pared back their marketing budgets in response to record-high inflation rates and continued uncertainty about a recession. Google-owner Alphabet Inc on Thursday reported a slight fall in quarterly ad revenue, missing Wall Street expectations and surprising investors as the world's largest digital ad platform has traditionally been resilient compared to smaller rivals. Shares of Alphabet were down 5% in trading after the closing bell."For a company the size of Google and as influential as Google to have such disappointing results, (that means the ad industry) won't turn around in one quarter," said Evelyn Mitchell, an analyst at Insider Intelligence.Snap Inc, owner of photo messaging app Snapchat, said Tuesday it expects current-quarter revenue to decline as much as 10% due to competition for ad dollars and a challenging economy."(Advertisers) are managing their spend very cautiously so they can react quickly to any changes in the environment," Snap Chief Executive Evan Spiegel said during an earnings call.Meta Platforms Inc, the second-largest digital ad platform, lifted Wall Street on Wednesday with its cost cuts and big share buyback, though it posted its third consecutive quarter of year-over-year revenue decline.Lower ad spending from brands in the financial services and technology sector was one reason for the revenue decline, the company said. Meta Chief Financial Officer Susan Li said the broader economy continues to be "pretty volatile" and it was too early to tell what the year would look like.The mood among advertisers broadly is one of "cautious optimism" for the year ahead, said Nicola Mendelsohn, Meta's vice president of global business group, in an interview on Thursday.By region, advertisers have been bullish about the U.S. market, while sentiment in Europe has struggled comparatively and China has shown signs of improvement, though the future remains uncertain amid the country's reopening, Mendelsohn said. (Reporting by Sheila Dang in Dallas; Editing by Christopher Cushing)By Sheila Dang \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Democratic senator urges Apple, Google to kick TikTok out of app stores.txt b/news/GOOG/2023.02.02/Democratic senator urges Apple, Google to kick TikTok out of app stores.txt new file mode 100644 index 0000000000000000000000000000000000000000..d55435820aa7980fac4d8142e54cebb9ac0c3538 --- /dev/null +++ b/news/GOOG/2023.02.02/Democratic senator urges Apple, Google to kick TikTok out of app stores.txt @@ -0,0 +1 @@ +The app, which Congress has already banned from federal government devices, has come under increasing criticism because of concern that China's government could use it to harvest data on Americans or advance Chinese interests."No company subject to CCP (Chinese Communist Party) dictates should have the power to accumulate such extensive data on the American people or curate content to nearly a third of our population," Bennet wrote in the letter to Alphabet Chief Executive Sundar Pichai and Apple CEO Tim Cook."Given these risks, I urge you to remove TikTok from your respective app stores immediately," he wrote.Prior to Bennet's letter, Republicans have largely led the charge on TikTok and national security concerns, although Democratic Senator Dick Durbin previously urged Americans to stop using the app. In the House, which is now in Republican hands, the Foreign Affairs Committee plans to hold a vote this month on a bill aimed at blocking TikTok's use in the United States, the committee confirmed.In 2020, then-President Donald Trump attempted to block new users from downloading TikTok and ban other transactions that would have effectively prevented TikTok's use in the United States, but the move was rebuffed by the courts.For its part, the company says China's government cannot access the personal data of U.S. citizens or manipulate the app's content. TikTok Chief Executive Shou Zi Chew is due to appear before the U.S. House Energy and Commerce Committee in March. (Reporting by Diane Bartz; Editing by Stephen Coates) \ No newline at end of file diff --git a/news/GOOG/2023.02.02/EU lawmakers agree to tougher rules on targeted political ads.txt b/news/GOOG/2023.02.02/EU lawmakers agree to tougher rules on targeted political ads.txt new file mode 100644 index 0000000000000000000000000000000000000000..537a80b30fb905283af18782e4960b1f3cdd18cb --- /dev/null +++ b/news/GOOG/2023.02.02/EU lawmakers agree to tougher rules on targeted political ads.txt @@ -0,0 +1 @@ +The draft rules proposed by the European Commission last year are part of the EU move to curb the power of Alphabet's Google, Meta Platforms and other social media giants, and force them to be more accountable and transparent.The rules require U.S. tech giants to provide more data on their targeted political ads, with fines up to 4% of their global turnover for breaches.EU lawmakers toughened up some of the provisions in the Commission's draft and will now have to thrash out details with EU countries before the proposed regulation can become legislation."Only personal data explicitly provided for online political advertising can be used by advert providers," the European Parliament said "Micro-targeting, a strategy that uses consumer data and demographics to identify the interests of specific individuals, will therefore not be possible." Lawmakers also backed a blanket ban on using minors' data and a ban on non-EU based entities from financing political advertisements in the EU. They proposed setting up an online repository for all online political ads and related data, and the possibility of periodic penalties for repeated violations. They also proposed that large advertisement service providers be required to suspend their services for 15 days with particular clients over systemic infringements.YouTube gave a thumbs-up to the lawmakers' proposals against EU countries' much broader remit."By focusing new rules on ads and paid-for content, we think the Parliament has reached a position that removes the worrying unintended consequence of limiting political speech online," David Wheeldon, head of government affairs and public policy at YouTube, EMEA."The current Council proposals go far beyond ads and paid-for content, and could result in a significant reduction in political content and debate online, impacting creators and viewers," he said.Tech lobbying group CCIA called for clarity on the definition of political advertisements and proportionate obligations.Lawmaker and civil rights advocate Patrick Breyer said Parliament was taking a stand against surveillance-based political advertising."From the Donald Trump and Brexit campaigns we have learned that you can very effectively and subconsciously manipulate a voter if you know which message works on them," he said. (Reporting by Foo Yun Chee; Editing by Bernadette Baum)By Foo Yun Chee \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt b/news/GOOG/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt new file mode 100644 index 0000000000000000000000000000000000000000..469ef069fc5071e3016f1e870dad7db43b7f7e17 --- /dev/null +++ b/news/GOOG/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt @@ -0,0 +1,35 @@ + +  +  +Corporate results: + +ABB: Order intake declines in Q4. +Banco Santander: Q4 net profit rises to €2.3bn. +Deutsche Bank: Q4 net profit comes up a little short of expectations. Current year revenues expected to be between €28-29bn. +Infineon: Segment margin expected to come out in fiscal Q2 at around 25%, versus 23.5% initially projected. +ING Groep: Q4 net profit came in at €1.1bn, slightly above consensus. +Nordea: Q4 net profit reaches €1.64bn. +Roche Holding: 2023 growth expected to slow. +Shell: The oil major company posted a record annual profit of $40bn. +Siemens Healthineers: The group reports a 28% drop in Q4 operating profit due to lower Covid test sales and delays at a supplier to its Varian business. +Sony: Annual operating profit should be slightly higher than expected. +Meta Platforms jumped 19 percent in pre-market trading after announcing Wednesday night a $40 billion share buyback program, tighter cost controls this year and an upbeat forecast for its first-quarter revenue. Apple, Alphabet and Amazon, which will report results after the U.S. markets close, were up 1.1% to 4.3% in pre-market trading. +Eli Lilly on Thursday raised its full-year profit target, expecting higher demand for its new diabetes drug Mounjaro. +Estee Lauder raised its full-year sales forecast Thursday on solid demand for its products and an expected recovery in China, its largest market. +Honeywell reported a 28.6% drop in fourth-quarter profit, hampered by supply problems and labor shortages. +Merck reported a better-than-expected quarterly profit on strong Asian sales of its Covid-19 antiviral. The company's profit forecast for this year, however, came in below analysts' consensus, sending the stock down 1% in premarket trading. +Metlife reported a 33% drop in adjusted fourth-quarter profit on Wednesday. + +In other news: + +KKR has made a non-binding offer to acquire a majority stake in Telecom Italia's fixed-line telecommunications network. +Boeing won a $1.62 billion contract from the U.S. Air Force to supply guidance systems for the Minuteman III intercontinental ballistic missile. +Pinterest decided to lay off about 150 employees, less than 5 percent of its workforce, Bloomberg reported Wednesday. +Adani Enterprises cancels its capital increase. +FedEx will lay off more than 10% of its executives and directors. +Sony will promote CFO Hiroki Totoki to president and COO. +Trading in several Adani stocks suspended after their plunge. +Honda will begin production of a new hydrogen fuel cell system developed jointly with General Motors. +Swatch proposes a dividend of CHF 6 per share (CHF 1.20 per registered share). + +Today's main earnings reports: Apple, Alphabet, Amazon, Eli Lilly, Roche, Merck & Co, Costco, Shell, Sony, Qualcomm, Estée Lauder, ABB, Dassault Systèmes, ING Groep, Infineon, Nordea, Deutsche Bank... All the agenda is here. diff --git a/news/GOOG/2023.02.02/Google tees up venue clash over U.S. advertising antitrust lawsuit.txt b/news/GOOG/2023.02.02/Google tees up venue clash over U.S. advertising antitrust lawsuit.txt new file mode 100644 index 0000000000000000000000000000000000000000..198cbcbe5e897f4a97eb695111cb51b7dfd594b1 --- /dev/null +++ b/news/GOOG/2023.02.02/Google tees up venue clash over U.S. advertising antitrust lawsuit.txt @@ -0,0 +1 @@ +In a filing in the Manhattan litigation, Google's attorneys said transferring the lawsuit was necessary for "judicial efficiency and to mitigate the obvious risk of inconsistent judgments." Google said the new DOJ case, filed jointly with eight states last month, which also alleges advertising-related abuses, overlaps with multidistrict litigation in New York that formed in 2021.Google's planned effort sets up an early possible flashpoint in the new lawsuit. The DOJ can be expected to oppose the company's attempt to transfer the case to New York, where it would be part of a complex process involving a host of private and state plaintiffs, legal experts following the cases told Reuters.A DOJ spokesperson declined to comment, as did a representative from Google.Google has disputed the claims in the new lawsuit, saying it "duplicates an unfounded" one that Texas filed and now is part of the New York litigation.U.S. courts facing transfer requests weigh a variety of factors, including location of witnesses and evidence.U.S. District Judge Leonie Brinkema in Virginia was assigned to the lawsuit there. The Justice Department and eight states, including Virginia and California, are seeking an order to force Google to sell its ad manager suite, a key business that was 12% of the company's revenue in 2021.The consolidated New York cases -- from Texas and other states, publishers and advertisers -- are before U.S. District Judge P. Kevin Castel.Consumer protection expert David Vladeck at Georgetown University Law Center said the Justice Department could make an argument for a separate case in Virginia on the basis that its nationwide interest in structural reform -- breaking apart Google -- distinguishes it from other suits over damages."They just want DOJ versus Google, nobody else," Vladeck said. The DOJ, he said, "would not want in any way, shape or form" to be transferred to the multidistrict litigation in New York.Antitrust expert Eleanor Fox, who teaches at New York University School of Law, predicted that the Virginia federal court "would let the DOJ have its choice of forum and would not move the case."Fox also said there is a new federal law that gives state plaintiffs their preference for venue in antitrust litigation.The case is In re Google Digital Advertising Antitrust Litigation, U.S. District Court, Southern District of New York, 1:21-md-03010-PKC.For state plaintiffs: Mark Lanier of The Lanier Law FirmFor publisher class: David Boies of Boies Schiller FlexnerFor advertiser class: Dena Sharp of Girard Sharp and Tina Wolfson of Ahdoot & WolfsonFor Google: Eric Mahr of Freshfields Bruckhaus Deringer and Justina Sessions of Wilson Sonsini Goodrich & RosatiRead more:Justice Dept. team suing Google includes longtime Paul Weiss partnerJudge Leonie Brinkema named to oversee U.S. lawsuit against GoogleU.S. targets Google's online ad business monopoly in latest Big Tech lawsuit (Reporting by Mike Scarcella; editing by Leigh Jones)By Mike Scarcella \ No newline at end of file diff --git a/news/GOOG/2023.02.02/MFE rules out merger with Prosieben for now.txt b/news/GOOG/2023.02.02/MFE rules out merger with Prosieben for now.txt new file mode 100644 index 0000000000000000000000000000000000000000..4f2f64b3cba962fe3df713041e06d95ac9b5aaa7 --- /dev/null +++ b/news/GOOG/2023.02.02/MFE rules out merger with Prosieben for now.txt @@ -0,0 +1 @@ +Controlled by the family of former Italian Prime Minister Silvio Berlusconi, Italy's top commercial broadcaster MFE has built a potential stake of up 29.9% in the Munich-based rival as part of its ambition to consolidate the European TV sector."As of now, honestly, we cannot talk of a merger, and would be absurd talking about a takeover bid," MFE Chief Executive Pier Silvio Berlusconi said at a press briefing at the company's Italian headquarters near Milan. Earlier this week, MFE said it would complete a planned merger with its Spanish-listed subsidiary, as part of its strategy to build a European TV champion to help counter the might of U.S. streaming giants. Prosiebensat.1 has so far shown little interest in any strategic deal with MFE, which first invested in the German TV group in 2019.The MFE CEO said Prosiebensat.1's supervisory board chairman Andreas Wiele, who was appointed last year, had demonstrated openness to dialogue with the company's top investor, in a change of tack."That makes us confident the two companies can join forces to develop some joint projects," he said, citing the development of a digital TV advertising platform capable of competing with online giants such as GoogleThe chief executive, the son of the former prime minister, billed German media and politician scrutiny of MFE's investment as exploitation of his father's role in Italian politics to obstruct MFE, which wants to act "in the interest of all Prosiebensat.1 investors". At the same event, MFE Chief Financial Officer Marco Giordani ruled out the company would present "hostile candidates" for three seats on Prosiebensat.1's supervisory board at the German group's shareholder meeting in May.Giordani said there might however be room for an MFE representative on the German company's supervisory board.The executive said MFE is ready to restructure its stake in Prosiebensat.1, converting the portion held through derivatives once it received required antitrust authorisations. (Reporting by Elvira Pollina; Editing by Keith Weir)By Elvira Pollina \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Marketmind: Communication breakdown.txt b/news/GOOG/2023.02.02/Marketmind: Communication breakdown.txt new file mode 100644 index 0000000000000000000000000000000000000000..cdb0ae53159cf84bf7082186cab19d00d29e4576 --- /dev/null +++ b/news/GOOG/2023.02.02/Marketmind: Communication breakdown.txt @@ -0,0 +1 @@ +The Fed, ECB, and BoE have spoken, and the market's message is: We hear you, but we don't believe you.All three raised interest rates as expected this week, said they will act again at upcoming meetings, and with varying degrees of guidance and conviction said they stand ready to tighten even further if inflation conditions warrant it.But investors aren't buying it. Wall Street and world stocks have jumped, bond yields are tumbling, and economists and rates futures markets are scaling back central bank hiking expectations.Contrary to what policymakers are surely aiming for, financial conditions are easing. Look how Germany's 10-year bond yield reacted on Thursday to ECB president Lagarde's press conference - down 20 basis points, one of the biggest falls since the euro was launched in 1999. According to Goldman Sachs, U.S. financial conditions are the loosest since August and have eased 150 basis points since mid-October. That's despite 225 bps of rate hikes since September.The falling dollar and lower Treasury yields have helped loosen financial conditions across most of emerging Asia in recent weeks too. Regional risk appetite remains firm, even though a pause in the equity rally may be overdue.The MSCI Asia ex-Japan index only has to rise around 0.7% on Friday - not an insurmountable challenge on the back of Wall Street's latest bounce - to post its sixth consecutive weekly gain. That would mark 12 increases out of the last 14 weeks, while the MSCI World index has had only one down day in the last 10. Remarkable runs. (Hang Seng tech index )Watch for outsized moves in Asian tech stocks on Friday following the 23% surge in Meta Platforms Inc shares. Apple, Amazon and Google parent Alphabet also reported results after the U.S. close.On the economic data front, a batch of PMI reports will give the latest insight into the health of several key economies in Asia, including China and India, while December retail sales figures from Hong Kong and Singapore will also be released.Here are three key developments that could provide more direction to markets on Friday:- China Caixin services PMI (January)- India S&P Global Services PMI (January)- U.S. non-farm payrolls (January) (By Jamie McGeever; Editing by Deepa Babington)By Jamie McGeever \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Meta surges on cost cut, buyback plans; lifts mega-cap stocks.txt b/news/GOOG/2023.02.02/Meta surges on cost cut, buyback plans; lifts mega-cap stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..08db19fc41fb015a796c0a66cad422c75b79f50d --- /dev/null +++ b/news/GOOG/2023.02.02/Meta surges on cost cut, buyback plans; lifts mega-cap stocks.txt @@ -0,0 +1 @@ +Meta plans to cut costs in 2023 by $5 billion to between $89 billion and $95 billion compared with its earlier outlook of $94 billion to $100 billion, with CEO Mark Zuckerberg calling 2023 the "Year of Efficiency."The company further boosted investot confidence by forecasting first-quarter sales ahead of Wall Street estimates.If premarket gains hold, the company would add nearly $76 billion to its $401.51 billion market value. The stock slumped about 64% in 2022."Promising that 2023 will be a year of efficiency was always likely to go down well with investors concerned about the largesse in spending directed towards the unproven potential of the metaverse," said AJ Bell, investment director at Russ Mould.Meta results also sparked a rally in shares of other mega-cap firms that are set to report quarterly results later in the day. Amazon.com Inc and Google owner Alphabet Inc rose about 4% each, while Apple Inc firmed 1.1%.Shares of social media firm Pinterest Inc added about 5.8% after a report that the online pinboards firm was cutting staff by 150, nearly 5% of its workforce, while Snap Inc added 2% a day after ending nearly 10% lower after the company forecast a decline on current-quarter revenue.Rate-sensitive tech and growth stocks also got a boost as U.S. Treasury yields retreated after Federal Reserve chair Jerome Powell acknowledged on Wednesday that inflation was starting to ease. (Reporting by Medha Singh in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Nasdaq futures jump more than 1% on Meta surge, Fed relief.txt b/news/GOOG/2023.02.02/Nasdaq futures jump more than 1% on Meta surge, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..7718f4c05040d1e2fbcbab7d3e76a3485f93473f --- /dev/null +++ b/news/GOOG/2023.02.02/Nasdaq futures jump more than 1% on Meta surge, Fed relief.txt @@ -0,0 +1 @@ +Facebook-parent Meta Platforms Inc jumped 18.9% in premarket trading after the company also announced a new $40 billion share buyback and said it would cut costs in 2023 by $5 billion to a range of $89 billion to $95 billion.Shares of other growth companies including Apple Inc, Alphabet Inc and Amazon.com Inc rose between 1.1% and 4.3%. The three companies are slated to report quarterly results after market close.Wall Street's main indexes got a boost in the previous session from Powell acknowledging that inflation was starting to ease after the U.S. central bank raised rates by 25 basis points.Although a U.S. recession is widely priced in, Powell's comments aided hopes of it being a mild one.After a bruising 2022, U.S. stock markets have made a strong start to the year, with megacap companies gaining on hopes that the Fed will pull back from its hawkish monetary policy outlook, which in turn could ease some pressure off their valuations.At 5:18 a.m. ET, Dow e-minis were down 45 points, or 0.13%, S&P 500 e-minis were up 20.75 points, or 0.5%, and Nasdaq 100 e-minis were up 179 points, or 1.44%.A 0.2% decline in shares of drugmaker Merck & Co ahead of its quarterly report weighed on Dow futures. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt b/news/GOOG/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..7377c9230398c71d431349ca0d9e9cce14486d3a --- /dev/null +++ b/news/GOOG/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta jumps on $40 billion share buyback*Merck slides on disappointing forecast*Align Technology climbs to nine-month high*U.S. weekly jobless claims fall to nine-month low*Indexes: Dow 0.27%, S&P 1.49%, Nasdaq 3.24%Feb 2 (Reuters) - The Nasdaq rose to a near five-month +intraday high as Meta Platforms surged on rigorous cost +controls, while a dovish message from Federal Reserve Chair +Jerome Powell boosted appetite for risky assets.The Facebook parent soared 26.9% to a near +eight-month high after it announced a new $40 billion share +buyback and said it would cut costs in 2023 by $5 billion to +between $89 billion and $95 billion.The S&P 500 Value index housing Meta jumped 2% to +more than a year's high."It certainly seems that markets are up because earnings +for Meta were surprisingly positive," said Sam Stovall, chief +investment strategist at CFRA Research in New York.Seven of the top 11 S&P 500 sectors advanced, with the +communication services sector, which includes Meta, +jumping 6.7% to its highest in five months.Apple Inc, Alphabet Inc and Amazon.com +Inc rose between 3.2% and 6.4% ahead of their quarterly +results after markets close.Wall Street's main indexes got a boost as Powell +acknowledged that inflation was starting to ease. The U.S. +central bank raised rates by 25 basis points on Wednesday.After a bruising 2022, U.S. stocks have made a strong +comeback, with megacap companies gaining on hopes that the Fed +will ease its hawkish monetary policy stance."Investors are finally looking beyond the specter of the +Federal Reserve raising rates. They see there is an eventual end +to the misery of rate hikes and are realizing so many stocks +were oversold in the misery of last year," said Peter Andersen, +founder of Andersen Capital Management.Meanwhile, data showed jobless claims unexpectedly fell last +week to a nine-month low, highlighting the labor market's +resilience, ahead of nonfarm payroll numbers on Friday.At 13:23 ET, the Dow Jones Industrial Average was +down 93.07 points, or 0.27%, at 33,999.89, the S&P 500 +was up 61.41 points, or 1.49%, at 4,180.62, and the Nasdaq +Composite was up 383.38 points, or 3.24%, at 12,199.70.The S&P 500's chart formed a "golden cross" pattern, in +which its 50-day moving average vaulted above the 200-day moving +average, perceived by many as a bullish signal for near-term +momentum.The price-weighted Dow was the only major index in the red +after disappointing earnings by some of its components. +Honeywell International Inc shed 0.5% after posting a +28.6% fall in quarterly profit.Drugmaker Merck & Co slid 4.6% on a +lower-than-expected annual forecast, while Eli Lilly & Co +dropped 5.5% on missing quarterly revenue estimates.Align Technology Inc surged 29.3% to a nine-month +high on its first quarterly results beat in a year.Analysts now see earnings of S&P 500 firms declining 2.4% +for the quarter, according to Refinitiv estimates.Advancing issues outnumbered decliners by a 2.74-to-1 ratio +on the NYSE, and by a 3.15-to-1 ratio on the Nasdaq.The S&P index recorded 33 new 52-week highs and one new low, +while the Nasdaq recorded 135 new highs and nine new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Nasdaq, S&P 500 close higher on Meta bump, Fed lift.txt b/news/GOOG/2023.02.02/Nasdaq, S&P 500 close higher on Meta bump, Fed lift.txt new file mode 100644 index 0000000000000000000000000000000000000000..5ccf1825d36260d32b555804c9d4054f662fea74 --- /dev/null +++ b/news/GOOG/2023.02.02/Nasdaq, S&P 500 close higher on Meta bump, Fed lift.txt @@ -0,0 +1,43 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta soars after cost controls, $40 bln share buyback*Merck slides on disappointing forecast, UnitedHealth drops*S&P 500, Nasdaq hit roughly 5-month intraday highs(Updates with U.S. market close)Feb 2 (Reuters) - The Nasdaq and S&P 500 ended higher on +Thursday after touching roughly five-month intraday highs as a +more dovish-than-expected message from Federal Reserve Chair +Jerome Powell boosted equities and Meta Platforms shares soared +on rigorous cost controls.Declines in some big healthcare stocks weighed on the +Dow.Shares of megacap stocks Apple, Amazon and +Google parent Alphabet also gained strongly ahead of +their results due after market close.Investors were still digesting the Fed's policy decision on +Wednesday and comments from Powell, who acknowledged progress in +the fight against inflation and appeared reluctant to push back +against the rally in stocks and bonds.“I think the reaction to yesterday’s Fed comments really +encouraged investors to go risk on,” said Rick Meckler, partner +at Cherry Lane Investments in New Vernon, New Jersey. "The +bottom line for investors I think is that the Fed’s comments +were unexpected.”According to preliminary data, the S&P 500 +gained 61.05 points, or 1.48%, to end at 4,180.26 points, +while the Nasdaq Composite gained 384.91 points, or +3.26%, to 12,201.23. The Dow Jones Industrial Average +fell 38.26 points, or 0.11%, to 34,054.70.After a bruising 2022, U.S. stock markets have made a strong +start to the year, with tech and other stocks that lagged last +year leading the rebound amid hopes that the Fed will temper its +aggressive rate hikes, which in turn could alleviate some +pressure on equity valuations.Those trends continued on Thursday. The communications +services sector jumped, led by a surge for Facebook +parent Meta. The company revealed stricter cost +controls this year and a $40 billion share buyback, as CEO Mark +Zuckerberg called 2023 the "year of efficiency."“I think that encapsulates what investors want to hear from +tech companies this year," said Anthony Saglimbene, chief market +strategist at Ameriprise Financial. "They want to hear that it +is a year of efficiency, they are getting out ahead of a +slowdown in the economy."UnitedHealth Group shares fell after the U.S. +government proposed Medicare Advantage reimbursement rates below +analyst estimates, and the stock weighed down the Dow. A decline +in Merck shares, after the drugmaker forecast 2023 +earnings below Wall Street estimates, also dragged on the blue +chip index.Shares of drugmaker Eli Lilly dropped after sales of +its closely watched diabetes drug missed estimates.Data showed jobless claims fell last week to a nine-month +low, highlighting the labor market's resilience, ahead of +monthly U.S. employment numbers on Friday. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi, Anil +D'Silva and Cynthia Osterman) \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Nasdaq, S&P 500 jump on Meta rise, Fed relief.txt b/news/GOOG/2023.02.02/Nasdaq, S&P 500 jump on Meta rise, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..eba3217b97e185602ba2dbc6f8591d3b321d9ffa --- /dev/null +++ b/news/GOOG/2023.02.02/Nasdaq, S&P 500 jump on Meta rise, Fed relief.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta soars after cost controls, $40 bln share buyback*Merck slides on disappointing forecast, UnitedHealth drops*S&P 500, Nasdaq hit roughly 5 month highs*Indexes: Dow down 0.26%, S&P up 1.47%, Nasdaq up 3.38%(Updates with mid-afternoon trading)Feb 2 (Reuters) - The Nasdaq and S&P 500 jumped and +touched roughly five-month highs on Thursday as a more +dovish-than-expected message from Federal Reserve Chair Jerome +Powell boosted equities and Meta Platforms shares soared on +rigorous cost controls.The Dow slipped, weighed down by declines in some big +healthcare stocks.Shares of megacap stocks Apple, Amazon and +Google parent Alphabet also were gaining strongly +ahead of their results due after the market closes.Investors were still digesting the Fed's policy decision on +Wednesday and comments from Powell, who acknowledged progress in +the fight against inflation and appeared reluctant to push back +against the rally in stocks and bonds.“Markets are just reacting to I think a more dovish press +conference from Powell yesterday,” said Anthony Saglimbene, +chief market strategist at Ameriprise Financial. “I think the +market got out of that Fed meeting still hoping that conditions +can be easier at the end of the year.”The Dow Jones Industrial Average fell 88.57 points, +or 0.26%, to 34,004.39, the S&P 500 gained 60.52 points, +or 1.47%, to 4,179.73 and the Nasdaq Composite added +399.57 points, or 3.38%, to 12,215.89.After a bruising 2022, U.S. stock markets have made a strong +start to the year, with tech and other stocks that lagged last +year leading the rebound amid hopes that the Fed will temper its +aggressive rate hikes, which in turn could alleviate some +pressure on equity valuations.Those trends continued on Thursday. The communications +services sector jumped over 6%, led by a 26% gain for Facebook +parent Meta. The company revealed stricter cost controls this +year and a $40 billion share buyback, as CEO Mark Zuckerberg +called 2023 the "year of efficiency."“I think that encapsulates what investors want to hear from +tech companies this year," Saglimbene said. "They want to hear +that it is a year of efficiency, they are getting out ahead of a +slowdown in the economy."The consumer discretionary and tech +sectors rose 3.9% and 2.9%, respectively.The energy sector, one of last year's standout +performers, fell 3%, while healthcare dropped 1%.UnitedHealth Group shares fell 5.6% after the U.S. +government proposed Medicare Advantage reimbursement rates below +analyst estimates, and the stock weighed down the Dow. A 3.9% +decline in Merck shares, after the drugmaker forecast +2023 earnings below Wall Street estimates, also dragged on the +blue chip index.Shares of drugmaker Eli Lilly fell 6% after sales of +its closely watched diabetes drug missed estimates.Data showed jobless claims fell last week to a nine-month +low, highlighting the labor market's resilience, ahead of +monthly U.S. employment numbers on Friday.Advancing issues outnumbered declining ones on the NYSE by a +2.70-to-1 ratio; on Nasdaq, a 3.12-to-1 ratio favored advancers.The S&P 500 posted 35 new 52-week highs and one new low; the +Nasdaq Composite recorded 140 new highs and 11 new lows. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi, Anil +D'Silva and Cynthia Osterman) \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge.txt b/news/GOOG/2023.02.02/Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge.txt new file mode 100644 index 0000000000000000000000000000000000000000..f189214a0f7c2a18b82426aa8d3681c7f3fb8950 --- /dev/null +++ b/news/GOOG/2023.02.02/Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge.txt @@ -0,0 +1,49 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta soars on cost controls, $40 bln share buyback*Merck slides on disappointing forecast, UnitedHealth drops*S&P 500, Nasdaq hit roughly 5-month highs*Indexes: Dow down 0.11%, S&P up 1.47%, Nasdaq up 3.25%(Updates with after-hours trading of Apple, Amazon, Alphabet)Feb 2 (Reuters) - The Nasdaq and S&P 500 ended higher on +Thursday and touched roughly five-month highs as a more +dovish-than-expected message from Federal Reserve Chair Jerome +Powell boosted equities and Meta Platforms shares soared on +rigorous cost controls.The Dow slipped, dragged down by declines in some big +healthcare stocks.Investors were still digesting the Fed's policy decision on +Wednesday and comments from Powell, who acknowledged progress in +the fight against inflation and appeared reluctant to push back +against the rally in stocks and bonds.“I think the reaction to yesterday’s Fed comments really +encouraged investors to go risk on,” said Rick Meckler, partner +at Cherry Lane Investments in New Vernon, New Jersey. "The +bottom line for investors I think is that the Fed’s comments +were unexpected.”The Dow Jones Industrial Average fell 39.02 points, +or 0.11%, to 34,053.94, the S&P 500 gained 60.55 points, +or 1.47%, to 4,179.76 and the Nasdaq Composite added +384.50 points, or 3.25%, to 12,200.82.Shares of megacap stocks Apple, Amazon and +Google parent Alphabet also gained strongly ahead of +results due after market close on Thursday, with Apple rising +3.7%, and Amazon and Alphabet both up over 7%.In initial after-hours trading, however, shares of all three +companies fell after their respective results.After a bruising 2022, U.S. stock markets have made a strong +start to the year, with tech and other stocks that lagged last +year leading the rebound amid hopes that the Fed will temper its +aggressive rate hikes, which in turn could alleviate some +pressure on equity valuations.Those trends continued on Thursday. The communications +services sector jumped 6.7%, its biggest daily gain in +almost three years, led by a 23.3% surge for Facebook parent +Meta. The company revealed stricter cost controls this +year and a $40 billion share buyback, as CEO Mark Zuckerberg +called 2023 the "year of efficiency."The S&P 500's 50-day moving average moved above the 200-day +moving average, a pattern known as a "golden cross" that is +perceived by many as a bullish technical signal for near-term +momentum.The energy sector, one of last year's standout +performers, fell 2.5%, while healthcare dropped 0.7%.UnitedHealth Group shares fell 5.3% after the U.S. +government proposed Medicare Advantage reimbursement rates below +analyst estimates, and the stock weighed down the Dow. A 3.3% +decline in Merck shares, after the drugmaker forecast +2023 earnings below Wall Street estimates, also dragged on the +blue chip index.Shares of drugmaker Eli Lilly dropped 3.5% after +sales of its closely watched diabetes drug missed estimates.Data showed jobless claims fell last week to a nine-month +low, highlighting the labor market's resilience, ahead of +monthly U.S. employment numbers on Friday.Advancing issues outnumbered declining ones on the NYSE by a +2.29-to-1 ratio; on Nasdaq, a 2.55-to-1 ratio favored advancers.The S&P 500 posted 36 new 52-week highs and one new low; the +Nasdaq Composite recorded 162 new highs and 16 new lows.About 15 billion shares changed hands in U.S. exchanges, +compared with the 11.7 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi, Anil +D'Silva and Cynthia Osterman) \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Nasdaq, S&P close higher on Meta bump, Fed lift.txt b/news/GOOG/2023.02.02/Nasdaq, S&P close higher on Meta bump, Fed lift.txt new file mode 100644 index 0000000000000000000000000000000000000000..0b9f8ac2cb242fae98b9bd1dc1af84e48fac6316 --- /dev/null +++ b/news/GOOG/2023.02.02/Nasdaq, S&P close higher on Meta bump, Fed lift.txt @@ -0,0 +1 @@ +The Dow dipped a tenth of a percent, but the S&P jumped nearly one-and-a-half percent and the tech-heavy Nasdaq soared three-and-a-quarter percent.George Ball, Chairman of Sanders Morris Harris, says tech stocks are seeing a bounce on the hopes that interest rates won't be going much higher."The Dow Jones averages are actually down - so big, old American stocks down because the economy looks fine, but not great. The Nasdaq, the tech, the companies that need to borrow at low interest rates, are booming up because Chairman Powell said, 'We think things are going to be alright.' It doesn't look like there are going to be rate increases beyond those that are already priced into the market and those are modest."The biggest winner Thursday among those tech stocks: Facebook parent Meta Platforms, which soared more than 23% a day after the company revealed stricter cost controls for 2023 and a $40 billion share buyback.Shares of megacaps Apple, Amazon and Google parent Alphabet also gained strongly ahead of results that came after the market close.But in initial after-hours trading, shares of all three companies fell after their respective results. \ No newline at end of file diff --git a/news/GOOG/2023.02.02/No-surprise rate hikes.txt b/news/GOOG/2023.02.02/No-surprise rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..2efcafd988604b7e8ee5fc53ac7f8455bbe0894b --- /dev/null +++ b/news/GOOG/2023.02.02/No-surprise rate hikes.txt @@ -0,0 +1,35 @@ + +"The more Powell talks, the more stocks and bonds go up". This comment, which graces the front page of Bloomberg's website this morning, is apt and sums up the mood of the moment. Yesterday, the U.S. central bank raised its key rate by 25 basis points, as expected. This comes after four hikes of 75 basis points and one of 50 basis points. The Fed Funds rate is now in the range of 4.50 to 4.75%. A year ago, it was close to zero (0.08% precisely in February). This is a measure of how far we have come in making money more expensive and, as was the plan, cooling inflation. + +That's for the mathematical part. As for the narrative, investors expected to get a bit of a slap on the wrist from Fed boss Jerome Powell. After all, they had given in to their penchant for optimism by moving back into risky assets, despite calls for caution from economists and central bankers. Instead, they got a soft Powell - a nicer version than they had imagined. And by soft, I mean a central banker who didn't use the usual codes of caution and seemed to give in. There were still some warnings, but investors focused on two things. First, the Fed acknowledged that inflation was falling. Second, it didn't seem particularly concerned about the risk taking seen since January 1. And when Powell got a little tougher, the market didn't believe him. It doesn't think that there will be two more rate hikes in the current cycle. Nor does it believe that a rate cut is unthinkable by the end of the year. +As a result, Wall Street up sharply after the press conference. The Nasdaq recovered 2.16% at the end of the day. This is the fourth time in ten sessions that the U.S. technology index gains more than 2%. The S&P500 was up 1.05% at the close. Penalized by its oil and health stocks, the Dow Jones limited its gains to 0.02%. If we had to summarize the session, tech blinked in fluorescent green and energy in red. +Today, the focus turned to the Bank of England and the ECB. The former is facing an inflation of 9.2% with key rates at 3.5%. The latter is facing an inflation of 8.5% with rates at 2.50%. Experts expected a 50 basis point tightening for both institutions, and that's what happened. +The Bank of England raised interest rates for the 10th consecutive time but dropped its pledge to continue to increase them "forcefully" if needed and said inflation had probably peaked. It voted to increase the Bank Rate to 4.0%. The European Central Bank raise rates to 2.5%. +At the same time, corporate earnings releases continue. After several disappointments, Meta Platforms delivered figures that reassured investors last night. The former Facebook was up 20% in after-hours trading, which helped fuel the rebound in technology stocks. Several dozen large companies are scheduled to report today, up to the trio of Apple, Amazon, Alphabet tonight after the close of Wall Street. In premarket trading, futures were up 1.7% on the Nasdaq 100 and 0.7% on the S&P 500, while the Dow was flat. +  +Economic highlights of the day: +We have the Challenger survey on layoffs (8:15 am), weekly jobless claims (10:30 am) and durable goods orders (10:00 am). All the agenda here. This morning, the Caixin Manufacturing PMI for China came in below expectations at 49.2 points, while the "official" PMI was in expansion territory.  +The dollar is up 0.2% against the euro to EUR 0.9105 and up 0.5% against the pound to GBP 8118. The ounce of gold is back up to 1953 dollars. Oil suffered yesterday, with North Sea Brent crude at USD 82.43 a barrel and U.S. light crude WTI at USD 76.08. The yield on 10-year US debt is down to 3.42%. Bitcoin remains near USD 23,000. +  +In corporate news: +* Meta Platforms jumped 19 percent in pre-market trading after announcing Wednesday night a $40 billion share buyback program, tighter cost controls this year and an upbeat forecast for its first-quarter revenue. Apple, Alphabet and Amazon, which will report results after the U.S. markets close, were up 1.1% to 4.3% in pre-market trading. +* Eli Lilly on Thursday raised its full-year profit target, expecting higher demand for its new diabetes drug Mounjaro. +* Estee Lauder raised its full-year sales forecast Thursday on solid demand for its products and an expected recovery in China, its largest market. +* Honeywell reported a 28.6% drop in fourth-quarter profit, hurt by supply problems and labor shortages. +* Merck reported a better-than-expected quarterly profit on strong Asian sales of its Covid-19 antiviral. The company's profit forecast for this year, however, came in below analysts' consensus, sending the stock down 1% in premarket trading. +* KKR has made a non-binding offer to acquire a majority stake in Telecom Italia's fixed-line telecommunications network, the Italian group said Thursday, adding that its board of directors would meet later today to discuss the deal. +* Boeing won a $1.62 billion contract from the U.S. Air Force to supply guidance systems for the Minuteman III intercontinental ballistic missile. +* Pinterest decided to lay off about 150 employees, less than 5 percent of its workforce, Bloomberg reported Wednesday. The stock was up 5.4 percent in premarket trading. +* Metlife reported a 33% drop in adjusted fourth-quarter profit on Wednesday. +  +Analyst recommendations: + +EasyJet: JP Morgan reiterates its Sell rating on the stock. The target price has been raised to GBp 370 from GBp 310. +Fedex: Citi upgrades to buy from neutral. PT up 19% to $240. +Goldman Sachs: Oppenheimer lifts price target to $463 From $441, Maintains Outperform rating +McDonald's: BofA Securities lowers PT to $297 from $303, Maintains Neutral rating +Meta Platforms: Piper Sandler upgrades to overweight from neutral. PT up 40% to $215. +Pets at Home: Liberum downgrades from buy to hold targeting GBp 390. +Standard Chartered: Goldman Sachs downgrades to neutral from buy. PT up 29% to 885 pence. +Stryker: DA Davidson raises price target to $290 From $250, Maintains Buy rating. + diff --git a/news/GOOG/2023.02.02/OECD offers final guidance for global minimum corporate tax.txt b/news/GOOG/2023.02.02/OECD offers final guidance for global minimum corporate tax.txt new file mode 100644 index 0000000000000000000000000000000000000000..82248626daaa325b0c42b8a655f71b9fe0a52210 --- /dev/null +++ b/news/GOOG/2023.02.02/OECD offers final guidance for global minimum corporate tax.txt @@ -0,0 +1 @@ +In the deepest overhaul of cross-border tax rules in a generation, nearly 140 countries had agreed in 2021 to apply a minimum tax rate of 15% on multinationals by committing to a top-up tax on profits booked in countries that have lower rates.The reform, which the OECD expects will yield an extra $220 billions in tax income globally, aims to update decades-old rules on cross-border tax for the digital age where tech giants like Apple and Google can book profits in low-tax countries such as Ireland.The OECD's final guidance aims to clarify lingering details so that governments adopt tax codes in a consistent and coordinated manner to limit compliance costs for companies and potential for conflicts.The OECD said it offered details particularly on how other governments should recognise an existing U.S. minimum tax known as the Global Intangible Low-Taxed Income, or GILTI, which covers patents, trademarks, or copyrights.The guidance, eagerly awaited by companies and tax advisors in addition to tax administrations, also fleshes out details on the scope of companies covered as well as operational and transition steps.The U.S. Treasury Department said the guidance would provide clarity, while protecting tax incentives such as the green tax credits contained in the Inflation Reduction Act.      "The continued progress in implementing the global minimum tax represents another step in levelling the playing field for U.S. businesses," said Assistant Secretary of the Treasury for Tax Policy Lily Batchelder. She said it will also protect U.S. workers and middle-class families by ending the race to the bottom in corporate tax rates.The overhaul is gathering steam ahead of implementation early next year after EU countries agreed in December on the roll out of the minimum tax across the 27-nation bloc. Japan is preparing its domestic legislation and Switzerland is due to hold a referendum in June.However, the outlook is less certain for separate plans under the overhaul to re-allocate 25% of profit from the world's largest multinationals for taxation in the countries where their clients are, regardless of their physical location. (Reporting by Leigh Thomas in Paris; Additional reporting by Andrea Shalal in Washington; Editing by Arun Koyyur) \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Publicis sees more growth this year as clients keep spending on digital marketing.txt b/news/GOOG/2023.02.02/Publicis sees more growth this year as clients keep spending on digital marketing.txt new file mode 100644 index 0000000000000000000000000000000000000000..2c99b7242385f954972ae9a51ee1e94c45dabb1a --- /dev/null +++ b/news/GOOG/2023.02.02/Publicis sees more growth this year as clients keep spending on digital marketing.txt @@ -0,0 +1 @@ +Despite a challenging 2022 marked by inflation, COVID-19 in China and a slowdown in global advertising spending, Publicis last year twice raised its guidance as client spending on digital marketing boosted sales. "We haven't noticed a change in the behaviour of our customers due to inflation," Chief Executive Arthur Sadoun told journalists in a call regarding Thursday's results, echoing statements from October.Its digital and data-driven businesses Epsilon and Sapient, the former of which was acquired in 2019, had organic growth of 12% and 19%, respectively, in 2022."Now, we're on the lookout for so-called bolt-on acquisitions," Sadoun added.CLIENTS PREFER RETAIL MEDIAResponding to a question on clients' preferences for ad placement, Sadoun said there was a transfer away from traditional television and towards smart TVs, as well as towards retail media in general and first-party data."There is an underlying trend towards our clients who say: instead of going to invest on CNN, we're going to go to Walmart.com because by definition it's more efficient, it's more direct, I'm building a direct relationship with my consumer."He added that clients' willingness to continue advertising on Twitter varied on a case-by-case basis.Publicis, which owns ad agencies Leo Burnett and Saatchi & Saatchi, hopes to navigate a global shift in advertising trends as Alphabet Inc's Google looks to phase out the use of third-party cookies.The company recorded organic growth of +10.1% in 2022 with net revenue reaching 12.57 billion euros ($13.81 billion), against 10.49 billion in 2021.($1 = 0.9102 euro) (Reporting by Olivier Sorgho in Gdansk; Editing by Matthew Lewis)By Olivier Sorgho \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Sex, lies and video cams: Andrew Tate turned women into slaves,...txt b/news/GOOG/2023.02.02/Sex, lies and video cams: Andrew Tate turned women into slaves,...txt new file mode 100644 index 0000000000000000000000000000000000000000..7821bbcef3d3e5878bda80eeb9e00065c7784809 --- /dev/null +++ b/news/GOOG/2023.02.02/Sex, lies and video cams: Andrew Tate turned women into slaves,...txt @@ -0,0 +1 @@ +"You must understand that once you are mine, you will be mine forever," Tate told her on Feb. 4 last year in one of dozens of WhatsApp messages cited by Romanian prosecutors who allege he trafficked and sexually exploited several women. Tate, an influencer with millions of online followers, urged the Moldovan woman to join him in Romania. "Nothing bad will happen," he reassured her on Feb. 9. "But you have to be on my side."The following month, Romanian prosecutors say, Tate raped the woman twice in the country while seeking to enlist her in a human-trafficking operation focused on making pornography for the online platform OnlyFans, a site that allows people to sell explicit videos of themselves. The allegations and messages are included in a previously unpublished court document, dated Dec. 30 and reviewed by Reuters, which paints the most detailed picture yet of the illicit business allegedly run by Tate, a former kickboxing world champion, and his brother Tristan. They came to light following the arrest of the brothers on Dec. 29 on charges of forming a criminal gang to sexually exploit women.Andrew Tate, 36, who's been based mainly in Romania since 2017, and his 34-year-old brother have denied all the allegations against them. Reuters was unable to reach them in police detention for comment.In response to questions, their attorney Eugen Vidineac said he couldn't publicly confirm or deny information about the case while the investigation was ongoing. Romania's anti-organized crime unit also said its prosecutors couldn't comment on the probe. Reuters translated the WhatsApp exchanges with the Moldovan women - which appear in Romanian in the court document - back into English, their original language. While accurate, the translation of the Romanian version provided by prosecutors may not be identical to the initial wording. The brothers used deception and intimidation to bring six women under their control and "transform them into slaves", prosecutors said in the document. The 61-page file, produced by Bucharest court officials, comprises minutes of a hearing when a judge extended the Tates' detention plus evidence submitted by the prosecution. Attorney Vidineac said the brothers' alleged victims weren't mistreated, but "lived off the backs of the famous Tates", according to the court document. "They were joyful and nobody was forcing them to do these things," he added.Vidineac acknowledged in the document that Andrew Tate and the Moldovan woman had sex but he said it was consensual and accused her of fabricating the rape claims. Reuters couldn't independently corroborate the version of events provided by prosecutors or the defence lawyer, and was unable to reach the six women named in the document for comment. The news organization does not typically identify alleged victims of sexual crimes unless they have chosen to release their names.Two of the women told Romanian TV station Antena3 on Jan. 11 that they're not victims and the Tates are innocent. The station identified them only by first names, Beatrice and Iasmina. "You cannot list me as a victim if I say I am not one," Beatrice told the station. The four other women, including the Moldovan woman, haven't publicly commented.ONLYFANS: WE'VE MONITORED TATE The allegations facing Tate have put intense focus on a self-described misogynist who has built an online fanbase, particularly among young men, by promoting a lavish, hyper-macho image of driving fast cars and dating beautiful women.  In 2022, he was the world's eighth-most Googled person, outranked only by figures such as Johnny Depp, Will Smith and Vladimir Putin, according to Google's analysis. Prosecutors say the Tates controlled the victims' OnlyFans' accounts and earnings amounting to tens of thousands of euros, underlining concerns among some human rights groups about the potential for the exploitation of women on such platforms. Reuters couldn't verify the existence of the alleged victims' OnlyFans accounts.UK-based OnlyFans has 150 million users who pay "creators" monthly fees of varying amounts for their content, much of it erotic or pornographic, but also in areas such as fitness training and music. The company, whose 1.5 million creators can earn anything from hundreds of dollars to tens of thousands a month, says on its website it's "the safest digital media platform". It was founded in 2016 and grew rapidly during COVID-19 lockdowns. Spokesperson Sue Beeby told Reuters that Andrew Tate "has never had" a creator account or received payments. She said OnlyFans had been monitoring him since early 2022 and taken "proactive measures" to stop him posting or monetizing content, without elaborating on the reasons for the scrutiny or the steps taken. She added that creators as a whole underwent extensive identification checks and that all content was reviewed by the platform, which worked closely with law enforcement. Vidineac declined to comment about the measures taken by OnlyFans against Tate. HOW I GET WOMEN TO LOVE MEAndrew Tate's image has been stoked by a series of contentious comments. He's compared women to dogs and said they bear some responsibility for being raped. His remarks got him banned from Facebook, Instagram and other leading social media platforms last year. A spokesperson for Meta said Tate was banned in August 2022 from its Facebook and Instagram platforms for violating its policies, which forbid "gender-based hate, any threats of sexual violence, or threats to share non-consensual intimate imagery".Tate said on a podcast in 2021 that he had started a webcam business in Britain that had peaked with 75 women working for him earning $600,000 a month - a sum Reuters was unable to independently verify. He didn't elaborate in the podcast on what the women did. Up until last month, his website offered a course costing more than $400 that promised to teach "every step to building a girl who is submissive, loyal and in love with you". "THAT IS MY SKILL. To extremely efficiently get women in love with me," he said on the website. The pages about the course, reviewed by Reuters, were removed in January.In a separate YouTube video aimed at men who want to make money by putting women on OnlyFans, Tate called the platform "the greatest hustle in the world". The original date of the video, which was uploaded multiple times, is unclear.In the court document, lawyer Vidineac said Tate's online persona was a "virtual character" constructed to gain followers and make money, and had "nothing to do with the real man".Tate's Twitter account, reinstated in November, one month after billionaire Elon Musk bought the platform, protests his innocence to his 4.8 million followers. "They have arrested me to 'look' for evidence ... which they will not find because it doesn't exist," said a Jan. 15 post.AMERICAN WOMAN 'VERY AFRAID'Tate first met the Moldovan woman virtually on Instagram in January 2022 before they met in person in London the following month, and by March she was in Romania, prosecutors said in the court document, which includes WhatsApp exchanges between Feb. 4 and Apr. 8.Authorities moved on the brothers on Apr. 11, when police raided one of their properties in Bucharest on suspicion that an American woman was being held there against her will.According to prosecutors, the American woman - another of the alleged six victims - met Tristan Tate online in November 2021, then in person in Miami the following month. They said he lured her to Romania by expressing "false feelings" for her and promising a serious relationship, paid for her plane ticket and said he could help her earn "100K a month" on OnlyFans.Tristan Tate picked her up at Bucharest airport in a Rolls-Royce on April 5 2022, and took her back to his house, which had two armed guards, the court document said. He told her she wasn't a prisoner but said the guards wouldn't let her outside without his permission, it added. He said it was dangerous for her to leave "because he had enemies".There were cameras all over the house, which Tristan Tate monitored remotely, prosecutors said in the document. He once messaged the American to say he could see where she was and what she was doing, they said.When she moved to another house with four of Andrew Tate's "girlfriends" she was allowed outside but only if accompanied by other women, said the prosecutors, adding that she was "very afraid" of the brothers.In the document, Tate's lawyer said the American woman had a mobile phone, internet access and the freedom to leave the house as she pleased.The woman has not spoken publicly about the Tates or the prosecutors' allegations.Romanian prosecutors said on Jan. 15 that as part of their probe into the suspects they had seized assets worth almost $4 million, including a fleet of luxury cars from Andrew Tate's compound on the outskirts of Bucharest. 'SEXUALLY EXPLOITATIVE CONTENT'The detention of the Tates, along with two Romanian women accused of working for them, has been extended to Feb. 27. Their appeal against that detention was rejected by a court on Wednesday. A judge can order their detention for up to 180 days while the investigation is ongoing, which means it could stretch into late June.The suspected accomplices, Georgiana Naghel and Luana Radu, controlled the six victims' OnlyFans and TikTok accounts on behalf of the Tates, skimming off half the revenue and fining women for being late or sniffling on camera, said prosecutors. The pair threatened to beat the women up if they did not do their job, according to the court document.Naghel and Radu have denied all the allegations against them. Vidineac, who also represents Naghel, and Radu's lawyer said they couldn't comment on the case.The Tates' operation put women on TikTok to drive traffic to OnlyFans because of its lucrative subscriptions, prosecutors said. Reuters couldn't independently verify the existence of the TikTok accounts in question.TikTok said in a statement that Andrew Tate was banned from its platform, and that it had been taking action against videos and accounts related to him that violated its prohibition against "sexually exploitative content". The company declined to comment further, citing Romania's ongoing investigation.      (Reporting by Luiza Ilie, Octav Ganea and Andrew R.C. Marshall. Editing by Jason Szep and Pravin Char)By Luiza Ilie, Octav Ganea and Andrew R.C. Marshall \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Stocks rally, U.S. yields flat on hope for central banks pause.txt b/news/GOOG/2023.02.02/Stocks rally, U.S. yields flat on hope for central banks pause.txt new file mode 100644 index 0000000000000000000000000000000000000000..a9990c4de8f3c3dad853c6c145c7f3e6a4ea585a --- /dev/null +++ b/news/GOOG/2023.02.02/Stocks rally, U.S. yields flat on hope for central banks pause.txt @@ -0,0 +1,51 @@ +*Markets see Fed, BoE and ECB rate-hike cycle end on +horizon*Dollar bounces after biggest daily pct drop in a month*Meta scores biggest daily pct jump in nearly a decadeNEW YORK, Feb 2 (Reuters) - A gauge of global stocks +climbed for a third straight day and longer-dated U.S. Treasury +yields were flat on Thursday, as policy announcements from a +host of central banks added to optimism that the cycles of +interest rate hikes may be near an end.After the U.S. Federal Reserve raised rates by 25 basis +points (bps) on Wednesday, as was widely expected, markets +rallied following comments from Fed Chair Jerome Powell +acknowledging the "disinflationary" process may have begun.The European Central Bank (ECB) and Bank of England (BoE) +hiked by 50 basis points each on Thursday, with the BoE +signaling the tide was turning against inflation and the ECB +indicating at least one more hike was on the horizon.On Wall Street, the S&P 500 and Nasdaq rallied, with the S&P +500 closing at its highest intraday level since Aug. 19 and the +Nasdaq closing at its highest since Sept. 12, getting an +additional boost from a 23.28% surge in Facebook parent Meta +Platforms Inc, its biggest daily percentage jump since +July 25, 2013, following its quarterly results and $40 billion +buyback announcement. That helped the S&P communication services +sector jump 6.74%, its biggest daily percentage gain +since March 13, 2020."The reaction to yesterday’s Fed comments really encouraged +investors to go risk-on,” said Rick Meckler, partner at Cherry +Lane Investments in New Vernon, New Jersey."The bottom line for investors, I think, is that the Fed’s +comments were unexpected.”The Dow Jones Industrial Average fell 39.02 points, +or 0.11%, to 34,053.94 while the S&P 500 gained 60.55 +points, or 1.47%, to 4,179.76 and the Nasdaq Composite +added 384.50 points, or 3.25%, to 12,200.82.On the economic front, weekly initial jobless claims dropped +to a nine-month low, showing the labor market remains strong, +while worker productivity in the fourth quarter accelerated. +Investors will eye the January payrolls report on Friday for +further signs of labor market strength.With 46% of the S&P 500 having reported results, earnings +for the quarter are expected to decline 2.4% from the year-ago +period, according to Refinitiv data, compared with a 1.6% +expected decline at the start of the year.After the closing bell, Amazon shares lost 6.56% and Google +parent Alphabet dropped 6.09% after their quarterly +results.European stocks also jumped, with the STOXX 600 closing at +its highest level since April 21 as it notched its biggest +one-day percentage gain in a month.The pan-European STOXX 600 index rose 1.35% and +MSCI's gauge of stocks across the globe gained +1.12%. The MSCI index hit its highest intraday level since May 5 +and was on track for its ninth gain in the past ten sessions.Benchmark 10-year notes were unchanged to +3.398%, reversing an earlier move lower.The dollar bounced, however, from its biggest one-day +percentage drop in nearly a month on Wednesday, while the euro +and sterling weakened following the ECB and BoE announcements.The dollar index rose 0.773%, with the euro +down 0.73% to $1.0909.The Japanese yen strengthened 0.21% versus the +greenback at 128.67 per dollar, while sterling was last +trading at $1.2228, down 1.20% on the day.In commodities, the dollar strength served to dent oil +prices, with U.S. crude settling down 0.69% at $75.88 per +barrel and Brent settled at $82.17, down 0.81% on the +day.(Reporting by Chuck Mikolajczak; additional reporting by Karen +Brettell, Lewis Krauskopf and Lisa Pauline Mattackal; editing by +Jonathan Oatis, Chizu Nomiyama and Nick Zieminski) \ No newline at end of file diff --git a/news/GOOG/2023.02.02/Tech earnings hit pause button on market rally.txt b/news/GOOG/2023.02.02/Tech earnings hit pause button on market rally.txt new file mode 100644 index 0000000000000000000000000000000000000000..377052e8cc9d1dcc5c44819b5cbb3ca0821be082 --- /dev/null +++ b/news/GOOG/2023.02.02/Tech earnings hit pause button on market rally.txt @@ -0,0 +1 @@ +Apple Inc, Google parent Alphabet and Amazon.com all posted results for the end-of-year quarter that left a sour taste in investors' mouths. The reports renewed questions about global economic demand, the effect of higher interest rates and whether the market's January rally got ahead of itself.Nascent signs that consumer spending was beginning to rebound in China were not enough to change that.Apple, the world's largest publicly traded company, fell short of expectations, hurt by lower iPhone sales and production disruptions in China. Amazon said operating profits could fallthis quarter due to lower demand, and Alphabet's online advertisers cut back their spend as well. Shares of the three companies dropped after the results were released and were expected to drag the market lower Friday following a euphoric rally Thursday. "Maybe the tech stocks rallied a little bit too much into these numbers, so the market will be taking a deep breath and saying, 'OK, well these companies aren't bulletproof,'" said Daniel Morgan, senior portfolio manager at Synovus Trust Company in Atlanta, Georgia. These three firms and Microsoft, the four U.S. companies with trillion-dollar market values, have led the broad-market S&P 500 in 2023. The index is up nearly 9% year-to-date, with Amazon gaining 34%. Big Tech surged Thursday following a strong quarterly report from Facebook-owner Meta Platforms Inc.That's after the group was battered throughout 2022, trailing the S&P, which dropped nearly 20%. Some investors saw silver linings from Apple and other bellwethers, including Starbucks, that reported results on Thursday. They noted that lockdowns in China strangled sales for many companies in the world's second-biggest economy, expecting a rebound in the coming year. "When things started to reopen in December (in China), we did see an increase in traffic to our stores as compared to November and an increase in demand as December rolled around," Apple Chief Executive Tim Cook told Reuters.Cook said lockdowns in China hurt both production and demand, and the company faced headwinds from the strong U.S. dollar that pushed revenues lower."Currency was a headwind but will be a tailwind in Q1," said Nancy Tengler, chief executive of Laffer Tengler Investments in Scottsdale, Arizona, referring to the dollar's weakening trajectory. "The supply chain was a problem more so than demand, and that seems to have been right-sized." Similarly, Starbucks said comparable sales fell 29% from the previous year in China, the company's fastest-growing market, but that beginning in January, it saw "very encouraging" recovery momentum there. Other U.S. consumer bellwethers painted a mixed picture. Consumer staples giant Clorox said product volumes fell in three of the company's four business segments in the fourth quarter, while automaker Ford said the year ahead was going to be a difficult one. They, and other companies, are still grappling with higher interest rates that are slowing demand. This year's surge in stocks has been built on a rally in bonds, as lower yields make high-valuation shares more attractive. Cost-cutting by Alphabet and Meta led some investors to think that interest rates are affecting demand."In many respects we're waiting for that other shoe to drop - the impact of higher rates on the economy, inflation, earnings and jobs," said Jack Ablin, co-founder and chief investment officer at Cresset Capital, which manages $30 billion. "Profits tend to trough nine months after overnight rates peak and we haven't even seen the peak in overnight rates yet." (Reporting By Herbert Lash, Caroline Valetkevitch and David Gaffen; writing by David Gaffen; Editing by Peter Henderson and Cynthia Osterman)By Caroline Valetkevitch and Herbert Lash \ No newline at end of file diff --git a/news/GOOG/2023.02.02/U.S. senator urges Apple, Google to ban TikTok.txt b/news/GOOG/2023.02.02/U.S. senator urges Apple, Google to ban TikTok.txt new file mode 100644 index 0000000000000000000000000000000000000000..aed93f132b980b3ecfec48438cc957f652e07762 --- /dev/null +++ b/news/GOOG/2023.02.02/U.S. senator urges Apple, Google to ban TikTok.txt @@ -0,0 +1 @@ +Democrat Michael Bennet, a member of the Senate Intelligence Committee, on Thursday sent a letter to Apple CEO Tim Cook and Alphabet Chief Executive Sundar Pichai saying TikTok should be removed from both the Apple and Google Play app stores.Congress has already banned TikTok, which is owned by Chinese company ByteDance, from federal government devices.The social media app, which showcases short videos, has come under increasing criticism because of concern that China's government could use it to harvest data on Americans or to advance Chinese interests.In his letter to Cook and Pichai, Sen. Bennet wrote (quote), "No company subject to CCP (Chinese Communist Party) dictates should have the power to accumulate such extensive data on the American people or curate content to nearly a third of our population.... Given these risks, I urge you to remove TikTok from your respective app stores immediately."Prior to Bennet's letter, Republicans have largely led the charge on TikTok and its potential national security concerns, although Democratic Senator Dick Durbin previously urged Americans to stop using the app.In the U.S. House of Representatives, which is now in Republican hands, the Foreign Affairs Committee plans to hold a vote this month on a bill aimed at blocking TikTok's use in the U.S.In 2020, then-President Donald Trump attempted to block new users from downloading TikTok, but the move was rebuffed by the courts.For its part, the company says that China's government cannot access the personal data of U.S. citizens or manipulate the app's content. \ No newline at end of file diff --git a/news/GOOG/2023.02.03/'Life goes on' after Brazil riots but problems must...txt b/news/GOOG/2023.02.03/'Life goes on' after Brazil riots but problems must...txt new file mode 100644 index 0000000000000000000000000000000000000000..e06b44a14ac337c837a96dcc9070075eb9597a64 --- /dev/null +++ b/news/GOOG/2023.02.03/'Life goes on' after Brazil riots but problems must...txt @@ -0,0 +1 @@ +Speaking to reporters on the sidelines of a business conference in Portugal's capital Lisbon, Mendes said problems "accumulated" during the four years far-right leader Jair Bolsonaro was in power. Bolsonaro supporters stormed government buildings on Jan. 8, calling for a military coup to restore their leader who left the country without conceding defeat by leftist President Luiz Inacio Lula da Silva, who was sworn in on the first day of the year."There's a debate taking place about the role of these radical groups, (about) what needs to be done," Mendes said, explaining authorities were looking into the alleged involvement of security forces in the riots.Lula has said the local militarised police force did not do enough to stop the advance of the protesters. The Supreme Court is leading the criminal probe into the riots.Mendes said it was important to discuss reforms in the security sector to tackle what he described as the "politicisation" of the police. He said there were issues with the armed forces too. He also said it was crucial to address the role played by social media platforms. People took to social media and messaging platforms to organise protests in support of Bolsonaro. Facebook parent Meta and Google's video platform YouTube said they removed content supporting or praising the riots."It is a responsible reflection ... but (the current) situation (is) of normality," Mendes said. "The country is moving forward... The stock market continues to rise, the dollar is under control, congress is functioning, life goes on as usual."I think democracy, once again, showed its resilience." (Reporting by Catarina Demony; Editing by Nick Macfie)By Catarina Demony \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Alphabet A : Buy rating from Goldman Sachs.txt b/news/GOOG/2023.02.03/Alphabet A : Buy rating from Goldman Sachs.txt new file mode 100644 index 0000000000000000000000000000000000000000..60dd94e4206cfe5a31389b9d7d6e52f2bbec48a1 --- /dev/null +++ b/news/GOOG/2023.02.03/Alphabet A : Buy rating from Goldman Sachs.txt @@ -0,0 +1 @@ +Already positive, the research from Goldman Sachs and its analyst Eric Sheridan still consider the stock as a Buy opportunity. The target price is slightly modified from 130 to 128 USD. \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Alphabet A : Credit Suisse reaffirms its Buy rating.txt b/news/GOOG/2023.02.03/Alphabet A : Credit Suisse reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..2be43fcf4195cb21d59203614dcfccb8b1f24264 --- /dev/null +++ b/news/GOOG/2023.02.03/Alphabet A : Credit Suisse reaffirms its Buy rating.txt @@ -0,0 +1 @@ +Credit Suisse is positive on the stock with a Buy rating. The target price is reduced from USD 145 to USD 136. \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Alphabet A : JP Morgan remains its Buy rating.txt b/news/GOOG/2023.02.03/Alphabet A : JP Morgan remains its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..8d11efccd3eaf8985243c5e571157970e291e03b --- /dev/null +++ b/news/GOOG/2023.02.03/Alphabet A : JP Morgan remains its Buy rating.txt @@ -0,0 +1 @@ +In a research note, JP Morgan analyst Douglas Anmuth has maintained his recommendation on the stock with a Buy rating. No major update to the target price set at USD 115 compared to USD 118. \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Alphabet A : Jefferies remains its Buy rating.txt b/news/GOOG/2023.02.03/Alphabet A : Jefferies remains its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..420bd70d744dd6a054f99905f4f54e43bb131901 --- /dev/null +++ b/news/GOOG/2023.02.03/Alphabet A : Jefferies remains its Buy rating.txt @@ -0,0 +1 @@ +In a research note published by Brent Thill, Jefferies advises its customers to buy the stock. The target price is still set at USD 125. \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Alphabet A : RBC reaffirms its Buy rating.txt b/news/GOOG/2023.02.03/Alphabet A : RBC reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..28acb34ffb4c6f443d6027a72513bfb910b0b076 --- /dev/null +++ b/news/GOOG/2023.02.03/Alphabet A : RBC reaffirms its Buy rating.txt @@ -0,0 +1 @@ +In a research note, RBC analyst Brad Erickson has maintained his recommendation on the stock with a Buy rating. The target price is unchanged at USD 130. \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Analysis-From Meta to Microsoft, AI's big moment is here.txt b/news/GOOG/2023.02.03/Analysis-From Meta to Microsoft, AI's big moment is here.txt new file mode 100644 index 0000000000000000000000000000000000000000..c429b7e146c01d6520578bb1ca3616889273517f --- /dev/null +++ b/news/GOOG/2023.02.03/Analysis-From Meta to Microsoft, AI's big moment is here.txt @@ -0,0 +1 @@ +This week, chief executives across the sector packed earnings calls with mentions of the heavily hyped technology, which until recently existed more in the background than as a solid contributor to the bottom line.In conference calls after financial results, tech execs uttered the phrases "AI," "generative AI," or "machine learning" from two to six times as often as they did in the previous quarter, according to a review of conference transcripts by Reuters. Executives from Microsoft Corp and Alphabet Inc, behind the latest big rivalry in tech, took their battle to the conference-call front lines. On Thursday, Alphabet appeared to edge out the competition. The Google-owner's call referred to AI 45 times, up from 13 times at the end of the third quarter, outpacing Microsoft, whose call was peppered with 39 references, up from 15 in the previous quarter.The release of software that can generate virtually text and images, exemplified by ChatGPT, a chatbot from the startup OpenAI, has set off a race to integrate AI into more products and for investors to bet on which company will emerge on top.Microsoft's investment in OpenAI and aggressive efforts to make ChatGPT widely available to its cloud customers, among other plans, represent a new challenge to Alphabet. Industry observers have said embedding human-like, ChatGPT-style responses in Microsoft's Bing search engine could give it a leg up on Alphabet's Google, long the information search leader.In a potential nod to the public's ChatGPT fixation, Alphabet CEO Sundar Pichai said Google remained in the game."We'll pursue this work boldly, but with a deep sense of responsibility," he said.AI software will be an important focus for Alphabet, which is planning to make its own LaMDA chatbot software publicly available in the coming weeks, he added.David Heger, an analyst with Edward Jones, said Google was opening up more about its large AI investments after staying quiet."They were much more vocal about how that benefits pretty much all parts of their business and how they expect that to be further integrated into their business going forward," he said.SHAPING SOCIAL MEDIASnap Inc CEO Evan Spiegel said on the social media company's fourth-quarter call that generative AI would be critical over the next five years to growing augmented reality (AR), which is important to its business.That technology, which overlays computerized images onto the real world, is currently limited because artists must build 3D models, but generative AI can speed up the process, Spiegel said."Imagine playing around with your kids wearing AR glasses and saying, 'oh my gosh, there's a pirate ship and a big monster.' We can bring those to life using generative (AI) art, which I think is really exciting," he said.Mark Zuckerberg likewise called generative AI "an extremely exciting new area" on Wednesday during a conference call that referenced the phrase 30 times, up from 22 times in the previous quarter. The Facebook founder and CEO of Meta Platforms Inc, whose shares rocketed 20% after reporting financial results, said users could expect the company to "launch a number of different things this year" in generative AI.Meta plans to incorporate the new technology across almost all its products, such as generating images, videos, avatars and 3D assets, Zuckerberg said. The software will  help content creators produce more across Meta's apps, he added. And marketers could use generative AI to help with written copy for their paid posts or create imagery and video, Nicola Mendelsohn, vice president of the global business group for Meta, said in an interview."One of my goals for Meta is to build on our research to become a leader in generative AI," said Zuckerberg.Even at Apple Inc, where hardware such as the iPhone has reigned supreme, AI is a big part of the future.Asked by an analyst about Apple's AI strategy, Chief Executive Tim Cook said Thursday the company is using such tech to power features like car crash detection in its iPhone and Apple Watch, and that it will be applied throughout Apple's products and services."We see an enormous potential in this space to affect virtually everything we do," Cook said. "It's obviously a horizontal technology, not a vertical. And so it will affect every product and every service that we have." (Reporting By Sheila Dang, Greg Bensinger, Stephen Nellis, Nivedita Balu, Tiyashi Datta, Chavi Mehta, Yuvraj Malik and Jeffrey Dastin; editing by Kenneth Li, Aditya Soni and Jonathan Oatis)By Jeffrey Dastin \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Analyst recommendations: Alphabet, Apple, Boeing, Meta, Starbuck...txt b/news/GOOG/2023.02.03/Analyst recommendations: Alphabet, Apple, Boeing, Meta, Starbuck...txt new file mode 100644 index 0000000000000000000000000000000000000000..6890e9bc281c93bbad3ac61462ed7eb21a11115a --- /dev/null +++ b/news/GOOG/2023.02.03/Analyst recommendations: Alphabet, Apple, Boeing, Meta, Starbuck...txt @@ -0,0 +1,19 @@ + +  + +Alphabet: Morgan Stanley upgrades to $135 from $125. Maintains overweight rating.  +Apple: JP Morgan has maintained its recommendation on the stock with a Buy rating. The target price differs slightly and is now set at USD 175 versus USD 180. +Asos: Deutsche Bank downgrades from buy to hold targeting GBp 950. +Bakkavor: HSBC downgrades from hold to low, targeting GBp 100. +Boeing: RBC Capital Markets downgrades to sector perform from outperform. PT up 7.5% to $225. +Cardinal Health: Baird upgrades to outperform from neutral. PT up 23% to $94. +C.H. Robinson: Stifel downgrades to hold from buy. PT down 5.2% to $99. +Cognizant: Baird downgrades to neutral from outperform. PT down 3.8% to $68. +Direct Line: Barclays downgrades to underweight from equal-weight. PT down 7.7% to 173 pence. +Marks and Spencer: Deutsche Bank upgrades to buy from hold. PT up 30% to 210 pence. +Meta Platforms: DZ Bank upgrades to hold from sell. PT down 4.6% to $180. +Pets at Home: Deutsche Bank downgrades to hold from buy. PT down 4.7% to 355 pence. +SLM: Wells Fargo Securities downgrades to equal-weight from overweight. PT jumps 8.1% to $16. +Standard Chartered: Investec upgrades to buy from hold. PT up 11% to 740 pence. +Starbucks: Fubon Securities downgrades to neutral from buy. PT up 12% to $122. + diff --git a/news/GOOG/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt b/news/GOOG/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt new file mode 100644 index 0000000000000000000000000000000000000000..4c48bc046be011ad62cdf6382ec7199211d9ef99 --- /dev/null +++ b/news/GOOG/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt @@ -0,0 +1,8 @@ + +Sanofi, CaixaBank, Publicis, Apple, Alphabet, Amazon, Broadcom, VMWare, 3M Co, Brookfield Asset Management, Credit Suisse, Nordstrom, Ford, Beyond Meat, Kroger, Walmart, Costco Wholesale,  Starbucks, Coinbase, General Electric, Siemens Gamesa, Baidu and Tesla feature in this press review! + + + + + +  diff --git a/news/GOOG/2023.02.03/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt b/news/GOOG/2023.02.03/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt new file mode 100644 index 0000000000000000000000000000000000000000..79bd9a646c940f031a2c5fa717fc501a538d3c50 --- /dev/null +++ b/news/GOOG/2023.02.03/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt @@ -0,0 +1,73 @@ +*Asian stock markets: https://tmsnrt.rs/2zpUAr4*China shares fall, Japan's Nikkei up 0.3%*Sentiment hurt by weak earnings from U.S. tech giants*Sterling, euro falter after BOE, ECB signal pause*European yields sharply lower, Treasury flat ahead of +payrollsSYDNEY, Feb 3 (Reuters) - A global stock rally ran into +resistance in Asia on Friday as disappointing earnings from U.S. +tech giants undermined sentiment, while the dollar regained some +of its footing ahead of a key U.S. non-farm payrolls report.European markets are set to extend the caution, with +pan-region Euro Stoxx 50 futures down 0.1%, German DAX +futures falling 0.2%, and FTSE futures mostly +flat.Overnight, markets took a dovish view on rate guidance from +the European Central Bank and the Bank of England, hoping that +an end of the massive global tightening cycle is in sight, +pushing local bonds higher and the currencies lower.MSCI's broadest index of Asia-Pacific shares outside Japan +eased 0.6% on Friday, dragged down by a 1.3% +slump in Chinese blue-chips and a 1.4% tumble in Hong +Kong's Hang Seng index.Investors are waiting to see more tangible signs of an +economic recovery in China, after Beijing dropped nearly all of +its COVID curbs in December, sparking a surge in foreign +inflows.Other regional markets eked out modest gains. Japan's Nikkei +rose 0.3%, Australia's resources heavy shares +rallied 0.6% and South Korea's KOSPI climbed 0.5%.Disappointment over earnings results from Google, +Apple and Amazon tempered sentiment, with the +S&P 500 futures sliding 0.5% and Nasdaq futures +falling 1.5% on Friday.Tech shares took a beating in Thursday's after-hours +trading, with shares of Apple down 3.2%, Amazon down 5% and +Google parent Alphabet down 4.6%.Apple projected another revenue decline in the start of the +year, Amazon warned that its operating profit could fall to zero +in the current quarter, and Google parent Alphabet missed +expectations in its fourth-quarter profit and revenue.That took the shine off a strong regular trading session on +Thursday, when the S&P climbed 1.5% and the Nasdaq +surged 3.3%. The uptick built on strong gains from the +previous day after Federal Reserve Chair Jerome Powell said +disinflationary pressures are underway in the economy, raising +hopes that a pause to its monetary tightening streak is near.Investors are also watching the fallout from this week's +plunge in shares of India's Adani group, which continued to +nosedive on Friday with market losses amounting to $115 billion +in the wake of a U.S. short-seller's report.On Thursday, the European Central bank (ECB) and Bank of +England (BoE) hiked rates by 50 basis points each, with the BoE +saying the tide was turning against inflation and the ECB +indicating at least one more hike was on the horizon before +re-evaluating its rate hike path.Markets reacted by pushing European yields sharply lower, +with the 10-year German bunds falling 22.6 basis +points to 2.065%, the biggest drop since 2011, and Italian bonds +tumbling 40 bps to 3.887%, the most since 2020."The wash-up is that the BoE meeting was dovish, and the ECB +is now firmly open-minded and data-dependent, and the Fed chose +not to fight the market and the market feels validated by that," +said Chris Weston, head of research at Pepperstone.Alan Ruskin, macro strategist at Deutsche Bank, said that +given the current market price action ahead of the U.S. payrolls +data, a softer report would be regarded as endorsing all the +favourite trades of the year."Not least it would provide the most important evidence to +date to suggest that the market's rates pricing is more +appropriate than the Fed's own more hawkish signalling," said +Ruskin.Analysts expect 185,000 jobs were added last month, the +lowest since January 2021, unemployment edged up to 3.6%, and +hourly wage inflation to stay flat at 0.3% on a monthly basis, +suggesting the strong labour market might have started to ease +up.Futures markets still favour another 25-basis-point hike +from the Fed at its March policy meeting, while implying that +might be the end of its current tightening cycle. They have also +priced in one rate cut by the end of this year, a scenario +Powell dismissed.In the currency markets, the euro extended +losses to $1.0889, pulling further away from the ten-month top +of $1.1033 touched on Thursday.Sterling fell to $1.2213 on Friday, the lowest +in more than two weeks, after tumbling 1.2% the previous +session.That helped the U.S. dollar to recoup most of its +post-Fed losses, with the dollar index now standing at +101.85, away from its nine-month low of 100.80.Treasury yields held largely steady. The yield on +benchmark 10-year Treasury notes eased 2 basis +points to 3.3726%, while the two-year yield, which +rises with traders' expectations of higher Fed fund rates, was +mostly flat at 4.0918%.In the oil market, Brent crude futures reversed +earlier gains and slid 0.2% to $82.01 per barrel, while U.S. +West Texas Intermediate (WTI) crude was also down 0.2% at +$75.70.Gold was 0.2% higher. Spot gold was traded at +$1915.66 per ounce.(Editing by Shri Navaratnam and Kim Coghill) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Big Tech earnings face more heat as cloud cover fades.txt b/news/GOOG/2023.02.03/Big Tech earnings face more heat as cloud cover fades.txt new file mode 100644 index 0000000000000000000000000000000000000000..5a0a2b41b6892e16aefcf64c8a8d5a8026a13e12 --- /dev/null +++ b/news/GOOG/2023.02.03/Big Tech earnings face more heat as cloud cover fades.txt @@ -0,0 +1,46 @@ +Feb 3 (Reuters) - Big Tech results reinforced concerns a +boom in cloud services is easing, limiting a lucrative source of +profit when a slowing economy has hit the companies' other +businesses and prompting a bet on artificial intelligence as the +next growth driver.Earnings from Amazon.com Inc and Microsoft Corp +- which together dominate the cloud market - showed +growth in the business was at its lowest since they started +breaking out the metric in 2015 and was on track to slow +further.Alphabet Inc, which has the smallest cloud +business among the three, said Google Cloud grew 32%, the +slowest rise since the company began reporting the measure in +2019.The poor results reflect a shift to post-pandemic frugality +by corporate customers whose budgets have been squeezed in the +past year by high inflation and rising interest rates."Once thought as the most defensive revenue stream in tech, +we are seeing investors questioning the cyclicality for the +(cloud) business," analysts at Bernstein said.Cloud services had long been a reliable source of earnings +for Microsoft and Amazon.The Windows maker posted growth of around 50% in its Azure +cloud-computing business for each quarter of calendar 2020, when +the pandemic forced people to work and study at home. Meanwhile, +market leader Amazon Web Services (AWS) reported sales jump of +about 30% during the same period.Times, though, have changed.Growth at AWS slowed to a record low of 20% in the last +three months of 2022 to $21.4 billion, slightly missing +analysts' estimates of $22.03 billion, according to Refinitiv +data.Microsoft's revenue in its so-called intelligent cloud +business that includes Azure rose 18% to beat expectations for +October to December. But its current-quarter forecast of $21.7 +billion to $22 billion was below estimates of $22.14 billion."The deceleration in AWS was even worse than expected and +means Amazon can't rely on that business units' operating +profits as much in coming quarters," said Andrew Lipsman, +principal analyst at Insider Intelligence.Amazon finance chief Brian Olsavsky said on Thursday that +the company expects slower cloud growth rates for the next few +quarters. That echoed Microsoft, which said last week that +growth in its Azure cloud-computing business would slow by 4-5 +basis points in the March quarter."You've just come off two years of rapid movement of +workloads to the cloud, there's probably a lot of inefficiency +in cloud spending and now there is a shifting focus to greater +efficiency," said James Cordwell, analyst at Atlantic Equities.AI SILVER LININGA potential boom in AI after the viral success of OpenAI's +ChatGPT could boost demand for cloud services again though, +analysts said. AI applications require massive computing power, +a boon for companies whose services help run the technology.As an investor and partner of OpenAI, Microsoft looks well +poised, analysts said, but any gains may take time to translate +into profits."Those (AI) advancements and demand for related cloud +services will take time to materialize. They're not likely to +offset current headwinds in the enterprise market over the next +few quarters," Lipsman said.(Reporting by Aditya Soni, Yuvraj Malik, Akash Sriram and +Tiyashi Datta in Bengaluru; Editing by Sriraj Kalluvila) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Dark skies ahead for Big Tech's cloud growth.txt b/news/GOOG/2023.02.03/Dark skies ahead for Big Tech's cloud growth.txt new file mode 100644 index 0000000000000000000000000000000000000000..2fbe068bdc2dd83bbb811644ee7bb90f5362b3ee --- /dev/null +++ b/news/GOOG/2023.02.03/Dark skies ahead for Big Tech's cloud growth.txt @@ -0,0 +1 @@ +Apple, Google parent Alphabet and Amazon all posted results for the end-of-year quarter that left a sour taste in investors' mouths. The reports renewed questions about global economic demand, the effect of higher interest rates and whether the market's January rally got ahead of itself.And they also reinforced concerns about what is normally a lucrative source of profit: cloud services.Amazon and Microsoft - which together dominate the cloud market - showed growth in the business was at its lowest since they started breaking out the metric in 2015, and was on track to slow even further.Microsoft posted growth of around 50% in its Azure cloud-computing business for each quarter of calendar 2020, when many were forced to work and study at home. Meanwhile, market leader Amazon Web Services, or AWS, reported a sales jump of about 30% during the same period.But, times have changed.Growth at AWS slowed to a record low of 20% in the last three months of 2022.And Microsoft's current-quarter revenue forecast for its so-called intelligent cloud business, which includes Azure, was below analysts' estimates.That's troublesome news for both companies - especially as a slowing economy has hit other parts of their businesses.There is, however, a potential silver lining: a boom in artificial intelligence after the viral success of ChatGPT, made by OpenAI. Analysts told Reuters that AI applications like ChatGPT could boost demand for cloud services again as they require massive computing power, a boon for companies whose services help run the technology. \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Dollar perks up as traders await U.S. jobs numbers.txt b/news/GOOG/2023.02.03/Dollar perks up as traders await U.S. jobs numbers.txt new file mode 100644 index 0000000000000000000000000000000000000000..575b313226e6e59c9ba9d85314939a812af2fed5 --- /dev/null +++ b/news/GOOG/2023.02.03/Dollar perks up as traders await U.S. jobs numbers.txt @@ -0,0 +1,36 @@ +LONDON, Feb 3 (Reuters) - The dollar rose slightly on +Friday, sustaining some momentum after jumping in the previous +session following a raft of central bank decisions in Europe.Trading was relatively subdued as markets waited for the +latest U.S. employment data later in the day which may shift +U.S. Federal Reserve policy.The dollar picked up against the euro, with the latter +down 0.1% to $1.09 in early European trading. The euro +remained well above the 20-year low of $0.953 hit in September, +however.The Federal Open Market Committee on Wednesday raised +interest rates by 25 basis points to a range of 4.5% to 4.75%, a +softer approach than the previous increase of 50 bps.The slowdown in the pace and comments from the central bank +helped send the dollar tumbling as traders hoped rate hikes +might soon end altogether.It then rallied sharply on Thursday when the European +Central Bank raised rates by 50 bps to 2.5%, but suggested that +it could be finished after another increase in March, causing +the euro to tumble."Essentially we have retraced everything before the +(Fed)meeting," said Alvin Tan, head of Asia FX strategy at RBC +Capital Markets.He said relatively weak earnings reports by tech giants +Alphabet, Apple and Amazon were +causing "a bit of a risk-off mood" in markets that was likely +boosting the dollar on Friday.The dollar index, which tracks the currency against +major peers, was up 0.1% to 101.89.Japan's yen was slightly higher against the +dollar, however, at 128.66 per dollar.The big event for markets on Friday is the release of U.S. +employment - or nonfarm payroll - numbers at 8.30 a.m. ET .Analysts polled by Reuters expect the U.S. economy to have +added 185,000 jobs in January, a strong showing but down from +223,000 in December. Wages data is also due.The pound was down 0.18% on Friday to $1.22, after +tumbling 1.2% on Thursday when the Bank of England raised +interest rates but stressed that inflation was showing signs of +relenting.The Australian dollar was 0.35% lower at $0.705. +Meanwhile, the U.S. dollar was up 0.35% against its Canadian +counterpart at C$1.336.Tan said he thinks the U.S. dollar should remain under +pressure in the coming weeks, given that the Fed is the central +bank closest to pausing interest rate hikes."I think that the path of least resistance in the next +quarter... is still for dollar weakness, unless we get a big +risk-off fright," he said.(Reporting by Harry Robertson; Additional reporting by Rae Wee; +Editing by Lincoln Feast, Simon Cameron-Moore and Emelia +Sithole-Matarise) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/European shares hit by weak earnings from U.S. tech giants.txt b/news/GOOG/2023.02.03/European shares hit by weak earnings from U.S. tech giants.txt new file mode 100644 index 0000000000000000000000000000000000000000..8ff6648b4cd247171040c435ed58ce76c100eacf --- /dev/null +++ b/news/GOOG/2023.02.03/European shares hit by weak earnings from U.S. tech giants.txt @@ -0,0 +1 @@ +The pan-European STOXX 600 was down 0.5% as of 0812 GMT.However, the benchmark index was on track for weekly gains, thanks to a strong increase on Thursday as the European Central Bank's (ECB) hawkish message failed to derail investor hopes of the global rate hiking cycle nearing an end.The technology sector index fell 0.6%, led by a near 2% drop in Apple supplier Infineon, while real estate stocks were down 1.5%.Frankfurt-listed shares of U.S. tech giants Amazon.com, Apple Inc and Alphabet Inc slid between 5% and 6% on disappointing earnings.Among others, French drugmaker Sanofi fell 4.7% after forecasting moderate 2023 earnings growth as strong demand for its bestselling drug, Dupixent, would be partly offset by generic competition for its multiple sclerosis pill, Aubagio.Dutch navigation and digital mapping company TomTom jumped 9.4% after raising its 2023 guidance following better-than-expected fourth-quarter revenue. (Reporting by Ankika Biswas in Bengaluru; Editing by Savio D'Souza) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/FTSE called down as tech earnings disappoint.txt b/news/GOOG/2023.02.03/FTSE called down as tech earnings disappoint.txt new file mode 100644 index 0000000000000000000000000000000000000000..1abd8bd414fb7c832135c3dffc030fa1cd853287 --- /dev/null +++ b/news/GOOG/2023.02.03/FTSE called down as tech earnings disappoint.txt @@ -0,0 +1 @@ +(Alliance News) - Stocks in London are set to open lower on Friday, following a week of crucial interest rate decisions which largely sprung no surprises. IG says futures indicate the FTSE 100 index of large-caps to open down 3.96 points, 0.1%, at 7,816.2 on Friday. The FTSE 100 index closed up 59.05 points, or 0.8% at 7,820.16 on Thursday. The Bank of England on Thursday, lifted interest rates by another 50 points. The rate lift takes the benchmark bank rate to 4.00% from 3.50%. It was an outcome expected by the market, according to consensus cited by FXStreet.The BoE said seven of the policy setting Monetary Policy Committee backed the move. Swati Dhingra and Silvana Tenryro opposed the hike, preferring bank rate to be maintained at 3.50%. The European Central Bank, meanwhile, also raised interest rates in the eurozone by 50 basis points, in line with market expectations, however it also pencilled in another increase in March.The US Federal Reserve lifted interest rates by 25 basis points on Wednesday, as widely expected, and signalled that it was not done raising rates.Sterling was quoted at USD1.2220 early Friday, lower than USD1.2276 at the London equities close on Thursday.The euro traded at USD1.0896 early Friday, lower than USD1.0927 late Thursday. Prior to the ECB announcement, however, the euro was trading at USD1.0985 and brushed the USD1.10 mark earlier on Thursday.Against the yen, the dollar was quoted at JPY128.63, higher versus JPY128.40."Today's European open looks set to see a modestly softer open after some weakness in the wake of last night's earnings numbers from Amazon, Alphabet and Apple," CMC Markets analyst Michael Hewson commented.Amazon said it swung to annual loss as it booked a significant hit related to its investment in electric vehicle firm Rivian. Apple, meanwhile, posted a drop in quarterly sales and income due to a challenging operating environment.Google owner Alphabet posted a small climb in fourth quarter revenue but noted a sharp year-on-year decline in net income.Amazon lost 5.1% after hours in New York, Alphabet gave back 4.6% and Apple shed 3.2%. In the US on Thursday, Wall Street ended mostly higher on Thursday, as investors digested the new interest rates. The Dow Jones Industrial Average ended down 0.1%, but the S&P 500 was up 1.5% and the Nasdaq Composite up 3.3%.In Tokyo on Friday, the Nikkei 225 index was up 0.4%. In China, the Shanghai Composite was down 0.7% and the Hang Seng index in Hong Kong was down 1.5%. The S&P/ASX 200 in Sydney closed up 0.6%.China's service sector return to growth in January, according to new data.The Caixin services purchasing managers' index rose to 52.9 in January from 48.0 in December. Returning above the 50.0 mark that separates growth from contraction, it shows activity in the sector has recovered from its recent downturn. "Both services supply and demand moved into expansion. Although Covid infections remained high, an easing of related containment measures stimulated supply and demand in the sector. The gauges for business activity and total new business both came in above 50, marking an end to a four-month contraction," said Caixin analyst Wang Zhe.Gold was quoted at USD1,915.71 an ounce early Friday, lower than USD1,920.03 on Thursday. Brent oil was trading at USD82.08 a barrel early Friday, higher than USD81.95 late Thursday.In the economic calendar on Friday, there are a slew of services PMI readings from the UK, US, EU, and Germany.By Sophie Rose, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Futures fall as megacaps slide on downbeat earnings.txt b/news/GOOG/2023.02.03/Futures fall as megacaps slide on downbeat earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..3033411cdffb68a5c6aa4d1ed0b10ce50bcbfe35 --- /dev/null +++ b/news/GOOG/2023.02.03/Futures fall as megacaps slide on downbeat earnings.txt @@ -0,0 +1 @@ +Shares of Wall Street heavyweights Apple, Amazon Inc and Alphabet Inc declined between 3.5% and 6% in premarket trading. Apple forecast another revenue decline at the start of the year, Amazon warned that its operating profit could fall to zero in the current quarter, and Google parent Alphabet missed Wall Street estimates for fourth-quarter results.The results looked set to snap the rally in U.S. equities in the previous session after Fed Chair Jerome Powell in his remarks after the Wednesday policy meeting referred repeatedly to the "disinflationary" process being underway.Both the Nasdaq and the S&P 500 posted strong gains on Thursday and touched near five-month highs, while the Dow slipped, dragged down by declines in some big healthcare stocks.Investors will closely monitor Labor Department's numbers for January nonfarm payrolls, due at 8:30 a.m. ET. The economy is expected to have added 185,000 jobs, fewer than the 223,000 additions in December. The unemployment rate is expected to tick higher to 3.6% in January, from 3.5% in December. The unemployment rate is expected to tick higher to 3.6% in Janaury, from 3.5% in December.U.S. stocks made a strong start in 2023 after a dismal 2022, with battered technology and related stocks leading the rebound on hopes that the Fed will temper its aggressive rate hikes, in turn alleviating some pressure on equity valuations. At 4:40 a.m. ET, Dow e-minis were down 81 points, or 0.24%, S&P 500 e-minis were down 29.25 points, or 0.7%, and Nasdaq 100 e-minis were down 181.5 points, or 1.41%. (Reporting by Shubham Batra; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Runaway Tech arrested.txt b/news/GOOG/2023.02.03/Runaway Tech arrested.txt new file mode 100644 index 0000000000000000000000000000000000000000..976b2d99d246ccc93447282a31761579bf1e5e95 --- /dev/null +++ b/news/GOOG/2023.02.03/Runaway Tech arrested.txt @@ -0,0 +1 @@ +The coast may be clearing on interest rates but a spluttering economy still has the power to check runaway stock markets.What investors have to work out is how much the economic drag is simply the condition for relief on rates. Friday's release of January's U.S. employment report will provide some clues - but Big Tech gave its own readout on Thursday.Underwhelming quarterly results from mega cap technology giants Apple, Alphabet and Amazon provided the reality check after the bell late on Thursday - enough to send their share prices down 3%-5% in out-of-hours trading and knock futures on this week's soaring Nasdaq and S&P500 indices back about 1% too.The updates have been enough to curb what had been the best three days for Wall St indices in about four months - after the best January for the Nasdaq in 22 years - as investors bet the U.S. Federal Reserve's credit squeeze is near done.Apple earnings fell short of expectations and it forecast revenue would fall for a second quarter in a row. But even though iPhone sales fell for the first time since 2020, it said sales were likely to improve as production had returned to normal in China after COVID-related shutdowns.Data on Friday backed that assertion as China's services sector activity in January expanded for the first time in five months. Spending and travel got a boost from the lifting of stringent COVID-19 curbs and business confidence hit near 12-year highs.But Alphabet also posted fourth-quarter profit and sales short of expectations as Google's advertising clients pulled back spending from a period of pandemic-led excess. And Amazon said operating profit could fall to zero in the current quarter as savings from layoffs do not make up for the financial impact of consumers and cloud customers clamping down on spending.To what extent layoffs in the tech sector are fanning out across the economy will be monitored in the payrolls report later and the Fed will be watching wage growth like a hawk.Payrolls are expected to have risen by another brisk 185,000 last month, although the unemployment rate likely ticked up to 3.6% from a more than 50-year low of 3.5% in December.Annual wage growth is expected to have slowed to 4.3% from 4.6% in December.The extent to which the market thinks the Fed has nearly finished its rate rise campaign - and seeding some of the FOMO, or fear of missing out, behaviour on Wall St - can be seen in the drop in two- and 10-year Treasury yields to their lowest since September. Ten-year yields have fallen a full percentage point since the peaks of October. Elsewhere, shares of India's Adani Group companies fell sharply again on Friday as ripples from a market rout disrupted parliament for a second day, driving fears of investment contagion across the country following last week's critical research report by a U.S. short-seller. Seven listed Adani enterprises lost more than half their market capitalisation, which shrivelled to less than $100 billion, after the Hindenburg Research report raised questions about the conglomerate's debt levels and use of tax havens. The group shelved its $2.5-billion share sale on Wednesday, S&P Dow Jones Indices said it would drop the Adani Enterprises flagship from widely-used sustainability indices on Feb. 7, blunting their appeal for environment-conscious investors.Key developments that may provide direction to U.S. markets later on Friday:* U.S. Jan employment report, Jan ISM service sector survey* U.S. corp earnings: Cigna, Aon, Regeneron Pharmaceuticals, Zimmer Biomet, LyondellBasell, Cboe Global Markets, Church & Dwight.GRAPHICSApple's Q1 revenue falls on lower iPhone sales https://www.reuters.com/graphics/APPLE-RESULTS/egpbyaadqvq/chart.pngAlphabet records slowest revenue growth since 2004 https://www.reuters.com/graphics/ALPHABEST-RESULTS/xmvjkrraypr/chart.pngAmazon earnings and net sales https://www.reuters.com/graphics/USA-AMAZON-EARNINGS/xegvbxrylvq/usa-results-amazon.jpgIs the selloff in tech stocks over? https://www.reuters.com/graphics/TECH-STOCKS/TECH-STOCKS/egpbyaaeqvq/graphic.jpg (By Mike Dolan, editing by Barbara Lewis mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Stocks stumble, U.S. bond yields jump on strong jobs report.txt b/news/GOOG/2023.02.03/Stocks stumble, U.S. bond yields jump on strong jobs report.txt new file mode 100644 index 0000000000000000000000000000000000000000..f9bdcd559dc3e7658ac30c1e53ee9805a6a6d3fe --- /dev/null +++ b/news/GOOG/2023.02.03/Stocks stumble, U.S. bond yields jump on strong jobs report.txt @@ -0,0 +1,57 @@ +*Jan U.S. payrolls 517k vs 185k estimate*Dollar bounces off 9-month lows*Amazon, Alphabet lower after earningsNEW YORK, Feb 3 (Reuters) - A gauge of global stocks +dropped more than 1%, while U.S. Treasury yields and the dollar +shot higher on Friday after a shockingly strong U.S. jobs report +renewed concerns the Federal Reserve may stay aggressive in its +interest rate hike path as it tries to tame inflation.The report from the Labor Department showed nonfarm payrolls +surged by 517,000 jobs in January, well above the 185,000 +estimate of economists polled by Reuters, with data for December +also being revised higher. Average hourly earnings increased +0.3%, as expected, down from the 0.4% in the prior month, while +the unemployment rate of 3.4% was the lowest since 1969.Equities have rallied to start the year on expectations the +Fed may be forced to pause or even pivot from its rate hikes in +the back half of the year, growing more confident after comments +from Fed Chair Powell on Wednesday that acknowledged the +"disinflationary" process may have begun. Additional fuel was +added after policy announcements by the European Central Bank +(ECB) and Bank of England (BoE) on Thursday."This make the Fed's job more difficult. Their dependence on +the data yet to come has increased, no doubt," said Russell +Price, chief economist at Ameriprise Financial in Troy, +Michigan."They’re concentrating on the labor market right now, they +want to see labor cost inflation under control, and this report +does not suggest that labor cost inflation in particular is +going to improve significantly anytime soon."Interest rate futures now indicate the Fed is likely to +deliver at least two more rate hikes, taking the benchmark rate +to above 5%.U.S. stocks opened lower after the report, with additional +downward pressure being supplied by a 2.83% decline in Google +parent Alphabet and a 7.70% drop in Amazon after their +quarterly results.Apple, however, helped prevent further declines, as the +stock erased losses in premarket trading to trade 2.74% higher +following its quarterly earnings.Earnings are now expected to decline 2.7% for the quarter +from the year-ago period, according to Refinitiv data, down from +the 1.6% fall expected at the start of the year.Other data showed the U.S. services industry rebounded +strongly in January, according to the Institute for Supply +Management (ISM).The Dow Jones Industrial Average fell 167.55 points, +or 0.49%, to 33,886.39; the S&P 500 lost 44.72 points, or +1.07%, to 4,135.04; and the Nasdaq Composite dropped +176.41 points, or 1.45%, to 12,024.41.Even with Friday's declines, both the S&P 500 and Nasdaq +were on track for weekly gains. The Nasdaq was poised for a +fifth straight week of gains, it's longest since +October-November 2021.European stocks closed modestly higher, erasing earlier +declines on optimism over the region's economy. The pan-European +STOXX 600 index rose 0.34% but MSCI's gauge of stocks +across the globe shed 1.08%. The STOXX index +closed with a 1.23% gain on the week for its highest closing +level since April 21. MSCI's index was on track for a second +straight weekly advance even with Friday's tumble.U.S. Treasury yields climbed after the payrolls report, with +those on the benchmark 10-year note up 13.2 basis +points to 3.530%, from 3.398% late on Thursday, poised for their +biggest one-day jump since Oct. 19.The greenback strengthened in the wake of the data, climbing +off a nine-month low hit on Thursday to 109.92, its highest +since January 12, with the dollar index rose 1.071% and +the euro down 0.93% to $1.0808.The Japanese yen weakened 1.88% to 131.11 per dollar, +while Sterling was last trading at $1.2058, down 1.35% on +the day.Crude prices turned lower in part due to strength in the +dollar and concerns about higher interest rates, with Brent and +WTI poised for weekly declines of about 7%.U.S. crude fell 3.15% to $73.49 per barrel and Brent +was at $79.92, down 2.74% on the day.(Reporting by Chuck Mikolajczak; additional reporting by +Herbert Lash; Editing by Kirsten Donovan and Jonathan Oatis) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Stocks tumble, U.S. bond yields rise on strong jobs report.txt b/news/GOOG/2023.02.03/Stocks tumble, U.S. bond yields rise on strong jobs report.txt new file mode 100644 index 0000000000000000000000000000000000000000..6b5da91e8c5ed6fe91634d3d9775c78aef314dad --- /dev/null +++ b/news/GOOG/2023.02.03/Stocks tumble, U.S. bond yields rise on strong jobs report.txt @@ -0,0 +1,56 @@ +*Jan U.S. payrolls 517k vs 185k estimate*Dollar bounces off 9-month lows*Amazon, Alphabet lower after earningsNEW YORK, Feb 3 (Reuters) - A gauge of global stocks +dropped more than 1%, while U.S. Treasury yields and the dollar +rose on Friday after a shockingly strong U.S. jobs report +renewed concerns the Federal Reserve may remain aggressive in +its path of interest rate hikes as it tries to tame inflation.The report from the Labor Department showed nonfarm payrolls +surged by 517,000 jobs in January, well above the 185,000 +estimate of economists polled by Reuters, with data for December +also being revised higher. Average hourly earnings increased +0.3%, as expected, down from the 0.4% in the prior month, while +the unemployment rate of 3.4% was the lowest since 1969.Equities have rallied to start the year on expectations the +Fed may be forced to pause or even pivot from its rate hikes in +the back half of the year, growing more confident after comments +from Fed Chair Powell on Wednesday that acknowledged the +"disinflationary" process may have begun. Additional fuel was +added after policy announcements by the European Central Bank +(ECB) and Bank of England (BoE) on Thursday."While it is very helpful to see the jobs increasing, it is +really a horse race between that ongoing income and how quickly +inflation comes down," said Lisa Erickson, head of public +markets group at U.S. Bank Wealth Management in Minneapolis, +Minnesota."The Fed really is in a tough place trying to navigate +between keeping those price pressures down and not causing too +much economic pain."Interest rate futures now indicate the Fed is likely to +deliver at least two more rate hikes, taking the benchmark rate +to above 5%.U.S. stocks closed lower, with additional downward pressure +being supplied by a 2.75% decline in Google parent Alphabet +and an 8.43% drop in Amazon after their +quarterly results.Apple, however, helped prevent further declines, as +the stock erased losses in premarket trading to close 2.44% +higher following its quarterly earnings.Earnings are now expected to decline 2.7% for the quarter +from the year-ago period, according to Refinitiv data, down from +the 1.6% fall expected at the start of the year.Other data showed the U.S. services industry rebounded +strongly in January, according to the Institute for Supply +Management (ISM).The Dow Jones Industrial Average fell 127.93 points, +or 0.38%, to 33,926.01; the S&P 500 lost 43.28 points, or +1.04%, to 4,136.48; and the Nasdaq Composite dropped +193.86 points, or 1.59%, to 12,006.96.Even with Friday's declines, both the S&P 500 and Nasdaq +notched weekly gains, with the Nasdaq securing a fifth straight +week of gains, its longest since October-November 2021.European stocks closed modestly higher, erasing earlier +declines on optimism over the region's economy. The pan-European +STOXX 600 index rose 0.34%, but MSCI's gauge of stocks +across the globe shed 1.08%. The STOXX index +closed with a 1.23% gain on the week, its highest closing level +since April 21. MSCI's index was on track for a second straight +weekly advance even with Friday's tumble.U.S. Treasury yields climbed after the payrolls report, with +those on the benchmark 10-year note up 13 basis +points to 3.528%, from 3.398% late on Thursday, poised for their +biggest one-day jump since Oct. 19.The greenback strengthened in the wake of the data, climbing +off a nine-month on Thursday to hit 103.01, its highest since +Jan. 12, as the dollar index rose 1.149% and the euro +was down 1.02% to $1.0799.The Japanese yen weakened 1.90% to 131.18 per dollar, +while Sterling was last trading at $1.2053, down 1.39% on +the day.Crude prices turned lower in part due to strength in the +dollar and concerns about higher interest rates, with Brent and +WTI both dropping nearly 8% on the week.U.S. crude settled down 3.28% at $73.39 per barrel +and Brent settled at $79.94, down 2.71% on the day.(Reporting by Chuck Mikolajczak; additional reporting by +Herbert Lash; Editing by Kirsten Donovan and Jonathan Oatis) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/TSX futures flat as commodity prices slip, U.S. jobs awaited.txt b/news/GOOG/2023.02.03/TSX futures flat as commodity prices slip, U.S. jobs awaited.txt new file mode 100644 index 0000000000000000000000000000000000000000..3e8f5d4ad29666167f91becadb28650bb623204a --- /dev/null +++ b/news/GOOG/2023.02.03/TSX futures flat as commodity prices slip, U.S. jobs awaited.txt @@ -0,0 +1 @@ +Futures on the S&P/TSX index were flat at 6:44 a.m. ET (1144 GMT) after the benchmark closed lower on Thursday, weighed down by losses in commodity-linked stocks.Investors would be looking for U.S. jobs data due at 8:30 a.m. ET, a key metric in gauging where the Fed stands on future rate increases, having hiked its lending rate by an expected 25 basis points on Wednesday.U.S. futures pointed to a lower opening on Wall Street, with disappointing quarterly results from megacap growth companies including Apple Inc, Amazon.com Inc and Alphabet Inc dampening sentiment. [.N]Oil prices eased, with major oil benchmarks headed for their second consecutive week of losses, as the market awaited further signs of fuel demand recovery in China to offset looming slumps in other major economies. [O/R]Gold steadied in a tight range as cautious investors took stock of a host of central bank statements and positioned themselves for the key U.S. nonfarm payrolls report. [GOL/]Materials and energy companies have a combined weightage of about 31% on the main index.In earnings, methanol producer Methanex reported better-than-expected quarterly results overnight.Software company OpenText Corp also reported its quarterly numbers, beating expectations on both revenue and earnings.On the research front, CIBC cut software company Lightspeed Commerce's rating to "neutral" from "outperformer". (Reporting by Shashwat Chauhan in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Tech giants call time on stocks rally, U.S. payrolls loom.txt b/news/GOOG/2023.02.03/Tech giants call time on stocks rally, U.S. payrolls loom.txt new file mode 100644 index 0000000000000000000000000000000000000000..5b743d43457793e389c23a97c924801105d9da78 --- /dev/null +++ b/news/GOOG/2023.02.03/Tech giants call time on stocks rally, U.S. payrolls loom.txt @@ -0,0 +1,56 @@ +*China shares fall, Japan's Nikkei up 0.3%*Sentiment hurt by weak earnings from U.S. tech giants*Sterling, euro falter after BOE, ECB decisions*U.S. payrolls data coming upLONDON/SYDNEY, Feb 3 (Reuters) - A global stock rally, +powered by hopes of central banks ending aggressive rate rises, +ran into roadblocks on Friday following weak earnings from U.S. +tech giants and as key U.S. jobs data loomed.The MSCI World Stock Index slipped 0.2%, but +was still near its highest since last August following a sharp +rebound in recent weeks on hopes that central bank rate hikes +are nearing an end.Wall Street stock futures fell sharply, with contracts +on the tech-heavy Nasdaq 100 2% lower, on disappointing +earnings from Google, Apple and Amazon +. S&P 500 futures slid 0.9%.Investors are also watching the fallout from this week's +plunge in shares of India's Adani group, which continued to +nosedive on Friday with market losses amounting to $115 billion +in the wake of a U.S. short-seller's report.In Europe, the Stoxx 600 share benchmark fell 0.6%. +Germany's benchmark 10-year bond yield inched 2 +basis points (bps) higher to 2.097%, having on Thursday dropped +by the most since 2011 as the price of the debt rallied.This week, the U.S. Federal Reserve, the European +Central bank (ECB) and Bank of England (BoE) all increased +benchmark borrowing costs and warned of more hikes to come.Markets initially shrugged off the hawkishness, however, +and clungto a statementby Fed chair Jay Powell on Wednesday that the United States +was in the early stages of "disinflation."The mood turned much more cautious on Thursday, however, +as U.S. tech sharestook a beating in U.S. after-hours trading.Apple projected another revenue decline in the start of the +year, Amazon warned that its operating profit could fall to zero +in the current quarter, and Google parent Alphabet missed +expectations in its fourth-quarter profit and revenue.The keenly watched U.S. non-farm payrolls report, due +out later on Friday, could now be crucial to supporting the +recent rally."If we are seeing an easing of net job creation that +would allow the Fed to just do one more rate hike of 25 basis +points and that would be the end of the cycle," said Willem +Sels, global chief investment officer at HSBC's private bank."We will see headwinds from further earnings downgrades, +but we have incorporated quite a lot [of this] already so I +think markets can hold here if we are indeed right on the Fed."U.S. job growth likely remained strong in January, with +economists polled by Reuters expecting185,000 new jobs were created last month.Hourly wages are predicted to have risen by 0.3% from +the month before, although the unemployment rate is also +forecast to have ticked up to 3.6% from 3.5%, which may give the +Fed comfort that wage inflation could decline.Alan Ruskin, macro strategist at Deutsche Bank, said that +given the current market price action ahead of the U.S. payrolls +data, a softer report would be regarded as endorsing all the +favourite trades of the year."Not least it would provide the most important evidence to +date to suggest that the market's rates pricing is more +appropriate than the Fed's own more hawkish signalling," Ruskin +said.Futures markets favour another 25 bp hike from the Fed in +March and imply that might be the end of its current tightening +cycle. They have also priced in two rate cuts by the end of this +year, a scenario Powell dismissed.In currency markets, the euro extended losses +to $1.0888, pulling further away from Thursday's 10-month top of +$1.1033.Sterling fell to $1.2185 on Friday, the lowest +in more than two weeks, after tumbling 1.2% the previous +session.That helped the U.S. dollar to recoup most of its +post-Fed losses, with the dollar index now standing at +101.94, away from its nine-month low of 100.80.Treasury yields held largely steady. Ten-year Treasury +yield were flat at 3.96%, while the two-year yield +, which rises with traders' expectations of higher Fed +fund rates, rose 2 bps to 4.106%.In the oil market, Brent crude futures reversed +earlier gains and slid 0.6% to $81.58 per barrel, while U.S. +West Texas Intermediate (WTI) crude was also down 0.6% at +$75.28.(Editing by Dhara Ranasinghe and Toby Chopra) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Tech trillion club's wobble in four charts.txt b/news/GOOG/2023.02.03/Tech trillion club's wobble in four charts.txt new file mode 100644 index 0000000000000000000000000000000000000000..cfb9c1b54496f1d5c4c3b9dea775133f50e49813 --- /dev/null +++ b/news/GOOG/2023.02.03/Tech trillion club's wobble in four charts.txt @@ -0,0 +1 @@ +The tech industry has already laid off thousands of employees in an effort to cut costs as they brace for an impending slowdown.The following graphics highlight the companies' shaky performance in key areas: WEAK IPHONE SALESThe world's largest publicly traded company's quarterly profit missed Wall Street expectations for the first time since 2016 as it struggled with disruptions to iPhone production in China."Apple's results are consistent with the broader technology-sector challenges, with a difficult macroeconomic environment slowing sales for digital advertising, e-commerce, and (as reflected by Apple's performance) consumer electronics," said D.A Davidson analyst Thomas Forte.Apple's iPhone sales fall for the first time since 2020 https://www.reuters.com/graphics/APPLE-RESULTS/lbpggbbkbpq/chart.png DIGITAL ADVERTISING SLUMPThe parent company of digital advertising giant Google also missed earnings expectations as businesses dialed back spending on fears of a possible recession."If a dominant ad player like Google can get hit like this, it is now officially a tough ad market," said Rosenblatt Securities analyst Barton Crockett.Google's ad sales growth in the last 2 years https://www.reuters.com/graphics/GOOGLE-ADVERTISING/egpbyaobavq/chart_eikon.jpg SLOW CLOUD GROWTHAmazon's revenue beat for the holiday quarter was largely overshadowed by a warning from the e-commerce giant that its lucrative cloud business was set for slower growth in the next few quarters."This year is likely to be a difficult year for AWS growth. One of the key advantages of AWS - that it is easy to flex spending upwards - is also one of its key disadvantages when the economy slows down," said Atlantic Equities analyst James Cordwell.Amazon's cloud growth in the last two years https://www.reuters.com/graphics/AMAZON-AWS/gdvzqdmbopw/chart.png POST-EARNINGS STOCK REACTIONShares of the three companies - all of which have market valuations of more than a trillion dollars - were down between 2.2% and 4.5%. The stock slump also dragged the wider market lower. Here is how the stocks have reacted after every quarterly earnings report in 2022:Big tech stock reaction after quarterly results over the pastyear https://www.reuters.com/graphics/USA-STOCKS/BIGTECH/lbpggblyrpq/chart.png (Reporting by Akash Sriram, Tiyashi Datta and Eva Mathews in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/The morning after the night before.txt b/news/GOOG/2023.02.03/The morning after the night before.txt new file mode 100644 index 0000000000000000000000000000000000000000..339bfafd1fa2ad1ac255a8520d30fc24538f9cbc --- /dev/null +++ b/news/GOOG/2023.02.03/The morning after the night before.txt @@ -0,0 +1 @@ +After the central bank triple-header (that's the Fed, ECB and BoE) buoyed risk appetite and emboldened investor hopes of the end of the massive global tightening cycle came the Big Tech triple-header to revive worries over global economic conditions. Dour fourth-quarter results from Apple, Google-parent Alphabet and Amazon are likely to cast a shadow on the markets on Friday before the crucial non-farms payroll data is released later in the day. Analysts expect 185,000 jobs were added last month and the report will likely paint a clearer picture of the labour market in the United States. With the market facing up to the reality of the economic downturn, Asian stocks eased with MSCI's broadest index of Asia-Pacific shares outside Japan 0.7% lower and set to end the week in the red after five consecutive weekly gains. The dollar firmed, while gold steadied. Meanwhile, Adani Group shares continue to bleed with market losses now over $115 billion (for the seven listed Adani firms)in the wake of a scathing report from U.S short-seller Hindenburg that came out on Jan. 24. The meltdown in share prices have stoked fears of wider impact on the Indian equities. A bright spot for the market was a private sector survey that showed China's services activity in January expanded for the first time in five months, sending business confidence to near 12-year highs.Even amidst the dire earnings reports from U.S. bellwethers there was a hint of hope that consumer spending was beginning to rebound in China. Key developments that could influence markets on Friday: Economic events: Euro zone, UK, Germany S&P Global business surveys, U.S. non-farm payrolls data Speakers, ECB's Christine Lagarde and BoE's Huw Pill to talk in separate events (Reporting by Ankur Banerjee; Editing by Jacqueline Wong) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/U.S. antitrust agency preparing lawsuit against Amazon - WSJ.txt b/news/GOOG/2023.02.03/U.S. antitrust agency preparing lawsuit against Amazon - WSJ.txt new file mode 100644 index 0000000000000000000000000000000000000000..eec4c1f729768df81fdd7627d70dcf8d9deecda1 --- /dev/null +++ b/news/GOOG/2023.02.03/U.S. antitrust agency preparing lawsuit against Amazon - WSJ.txt @@ -0,0 +1,27 @@ +Feb 3 (Reuters) - The U.S. Federal Trade Commission is +preparing a possible antitrust lawsuit against e-commerce giant +Amazon.com Inc, the Wall Street Journal reported on +Friday, citing people familiar with the matter.It could not be determined exactly which aspects of Amazon's +businesses the FTC would target and the timing of any case was +uncertain, according to the report.Amazon and the FTC declined to comment.The commission began probing Amazon during the Trump +administration. The company has been criticized for allegedly +favoring its own products and disfavoring outside sellers on its +platform.The FTC has been scrutinizing the bundling practices of the +company's Prime subscription service, the WSJ also reported.Amazon in December reached a settlement with the European +Union in three antitrust probes after it addressed the EU's +concerns over use of sellers' data, saving the company from a +fine of up to 10% of its global turnover.Outsiders got a small view into the relationship between the +agency and Amazon last August when the agency rejected an Amazon +bid to quash demands that both Chief Executive Andy Jassy and +Executive Chairman Jeff Bezos testify at investigative hearings. +Amazon had questioned what it called the agency's "burdensome" +requests in its investigation of the sign-up and cancellation +processes for its Prime program.The Justice Department and FTC have probes underway of all +four platforms. The Justice Department has sued Alphabet's +Google twice, once regarding its search business and a second +time on advertising technology. The FTC has sued Meta's +Facebook.The FTC has also lost a court ruling aimed at stopping a +deal that Meta undertook to buy VR company Within. +(Reporting by Eva Mathews in Bengaluru; additional reporting by +Diane Bartz in Washington; Editing by Shailesh Kuber and Josie +Kao) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/UK shares slip as weak tech earnings weigh on mood.txt b/news/GOOG/2023.02.03/UK shares slip as weak tech earnings weigh on mood.txt new file mode 100644 index 0000000000000000000000000000000000000000..35fb9192e3377e00df3670fff72cf10e71c6d2e0 --- /dev/null +++ b/news/GOOG/2023.02.03/UK shares slip as weak tech earnings weigh on mood.txt @@ -0,0 +1 @@ +The blue-chip FTSE 100 index slipped 0.1% by 0810 GMT, while the midcap FTSE 250 index slid 0.5% after touching a nine-month high in the previous session.Wall Street futures sank after tech titans Apple Inc, Amazon.com Inc and Alphabet Inc reported downbeat results.Still, both the UK equity indexes were heading for weekly gains after dovish comments from the U.S. Federal Reserve and the Bank of England raised hopes that the central banks could pause the rate-hike spree after a series of increases to bring inflation under control.Discount retailer B&M gained 2.2% and Marks & Spencer rose 3.2% after Deutsche Bank upgraded their stocks to "buy" from "hold". (Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Wall St pares declines after stunning jobs report.txt b/news/GOOG/2023.02.03/Wall St pares declines after stunning jobs report.txt new file mode 100644 index 0000000000000000000000000000000000000000..e9bc130cfdf8a68042a0d20d7de4dd378ad7e1fe --- /dev/null +++ b/news/GOOG/2023.02.03/Wall St pares declines after stunning jobs report.txt @@ -0,0 +1,43 @@ +(Corrects paragraph 14 to say Michael Matousek is a head trader +at U.S. Global Investors Inc)*U.S. job growth accelerates in Jan, jobless rate ticks +down*Amazon, Alphabet fall on disappointing results*Ford drops on downbeat outlook*Indexes down: Dow 0.17%, S&P 0.63%, Nasdaq 0.82%Feb 3 (Reuters) -U.S. stock indexes pared declines by afternoon on Friday as +a strong jobs report that initially raised fears of the Federal +Reserve keeping interest rates higher for longer also pointed to +the resilience in the economy in the face of aggressive policy +tightening.The Labor Department's nonfarm payrolls report showed +517,000 job additions in January, almost three times above +expectations, while the unemployment rate hit 3.4%, its lowest +since 1969.Separately, data showed that theU.S. servicesindustry's activity rebounded strongly in January."The data suggests an economy that is running cooler +than half a year ago, but not falling off the cliff," Bill +Adams, chief economist for Comerica Bank said."The outlook is cloudy, but the backward-looking data +shows 2023 began on a stronger footing than seemed the case a +few weeks ago."Money markets expect the U.S. central bank to hike rates two +more times before stopping, after the Fed raised its target rate +by 25 basis points on Wednesday. Rates are seen peaking at 4.95% +by June, compared with 4.91% earlier.Investors also parsed disappointing earnings, with +Amazon.com Inc sliding 5.8% as it warned that its +operating profit could fall to zero in the current quarter.Google parent Alphabet Inc dropped 2.0% as it +missed Wall Street estimates for fourth-quarter results.Markets rallied in the previous session on Fed Chair Jerome +Powell's repeated references to the "disinflationary" process +being underway in his remarks after Wednesday's meeting.Apple Inc forecast another revenue decline at the +start of the year, but the iPhone maker reversed course to trade +2.7% higher.Tesla Inc jumped 3.0% after the U.S. Treasury +Department said that some of its Model Y variants would be +eligible for tax credits.Wall Street's main indexes have had a solid start to the +year as megacap growth stocks, which took a beating last year, +rose on hopes that the Fed's hiking spree will come to an end +this year.The Nasdaq eyed its fifth consecutive weekly +advance, its best streak since October 2021."If the Fed is indeed less hawkish and the economy is doing +well, you would want to own the big names, why sit on the +sidelines?," said Michael Matousek, head trader at U.S. Global +Investors Inc.At 1:01 p.m. ET, the Dow was down 58.67 points, or +0.17%, at 33,995.27 and the S&P 500 was down 26.21 +points, or 0.63%, at 4,153.55.The Nasdaq Composite was down 99.50 points, or +0.82%, at 12,101.32.Ford Motor Co slid 6.6% after missing quarterly +earnings expectations while also warning of a rocky year ahead.Analysts now see fourth-quarter earnings of S&P 500 firms +declining 2.7%, according to Refinitiv.Declining issues outnumbered advancers for a 2.03-to-1 ratio +on the NYSE and for a 1.25-to-1 ratio on the Nasdaq.The S&P index recorded 15 new 52-week highs and no new low, +while the Nasdaq recorded 103 new highs and eight new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian; Additional +reporting by Shubham Batra; Editing by Sriraj Kalluvila and Maju +Samuel) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Wall St. ends down after stunning jobs growth .txt b/news/GOOG/2023.02.03/Wall St. ends down after stunning jobs growth .txt new file mode 100644 index 0000000000000000000000000000000000000000..6453a7c9b8f86ea266da56461b7ecb168520eaaf --- /dev/null +++ b/news/GOOG/2023.02.03/Wall St. ends down after stunning jobs growth .txt @@ -0,0 +1 @@ +The Dow shed roughly four-tenths of a percent, the S&P fell a full percent, and the Nasdaq dropped 1.6%.U.S. job growth soared in January, with nonfarm payrolls surging by 517,000 jobs - well above an estimate of 185,000 - and the unemployment rate fell to a 53-1/2-year low.The data comes after Fed Chair Jerome Powell said earlier in the week that there'd be two more quarter-point rate hikes - sending stocks higher.But Michael Jones, Chairman and CEO of Caravel Concepts, says the market was wrong to interpret Powell's remarks as dovish."Investors, instead of saying, "Hey, we're gonna get a minimum of two more increases,' said, 'Hey, only two more increases and the Fed's gonna take a breather.' That's not exactly what he said. And also, he really emphasized that the main thing the Fed's looking at as they make these tightening decisions is the job market - and how they feel it's unbalanced, that unemployment is too low, that jobless claims are too low and that job openings are too high. And because of all that, today's number is going to really equip the hawks to drive rates higher towards 6%."Investors on Friday also digested another heavy batch of corporate results.Shares of Apple, the largest U.S. company by market value, rose 2.4%. The company forecast that revenue would fall for a second quarter in a row but that iPhone sales were likely to improve as production had returned to normal in China.Shares of Amazon slumped 8.4% after the company said operating profit could fall to zero in the current quarter as savings from layoffs won't make up for the financial impact of consumers and cloud customers clamping down on spending.And shares of Google parent Alphabet dropped 2.7% after it posted fourth-quarter profit and sales short of Wall Street expectations. \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Wall Street ends down after stunning jobs growth raises Fed questions.txt b/news/GOOG/2023.02.03/Wall Street ends down after stunning jobs growth raises Fed questions.txt new file mode 100644 index 0000000000000000000000000000000000000000..04cb0a7ea0a317c8e23909faaae043d151c26a12 --- /dev/null +++ b/news/GOOG/2023.02.03/Wall Street ends down after stunning jobs growth raises Fed questions.txt @@ -0,0 +1,50 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nasdaq posts 5th straight weekly gain*U.S. reports blowout job data; unemployment lowest since +1969*Megapcap earnings reactions: Apple up; Amazon, Alphabet +slump*Ford Motor drops on downbeat outlook*Indexes down: Dow 0.38%, S&P 1.04%, Nasdaq 1.59%(Updates with further market data)Feb 3 (Reuters) - Major U.S. stock indexes ended lower +on Friday after surprisingly strong jobs data sparked concerns +about aggressive Federal Reserve action, while investors +digested a mixed bag of megacap company earnings reports.The S&P 500 still posted a gain for the week, which included +a string of major market events, and stood not far from +five-month highs. The Nasdaq tallied its fifth straight weekly +rise, its longest such streak since late 2021.U.S. job growth accelerated sharply in January, with nonfarm +payrolls surging by 517,000 jobs, well above an estimate of +185,000. The unemployment rate hit a more than 53-1/2-year low +of 3.4%.In another sign of economic strength, U.S. services industry +activity rebounded strongly in January.Investors have been balancing hopeful signs that the economy +could avoid a feared recession against concerns about how long +the Fed will keep interest rates high to rein in inflation. The +S&P 500 gained earlier this week after comments that were more +dovish than expected from Fed Chair Jerome Powell, who +acknowledged progress in the fight against inflation.The jobs report "was an incredible surprise and it raises a +lot of questions about what the Fed is going to do next,” said +Kristina Hooper, chief global market strategist at Invesco. +“What I think is causing some of the volatility is markets +trying to make sense of how the Fed will perceive this.”The Dow Jones Industrial Average fell 127.93 points, +or 0.38%, to 33,926.01, the S&P 500 lost 43.28 points, or +1.04%, to 4,136.48 and the Nasdaq Composite dropped +193.86 points, or 1.59%, to 12,006.96.For the week, the S&P 500 rose 1.6%, the Dow slipped 0.15%, +and the Nasdaq gained 3.3%.Wall Street's main indexes have had a solid start to the +year as tech and other stocks that struggled in 2022 have +rebounded, fueled by hopes that the Fed's rate hikes would soon +end and the economy might be able to navigate a soft landing.“So many things were trading at bargain-basement prices +three, four months ago," said Eric Kuby, chief investment +officer at North Star Investment Management Corp. "That has gone +away... I think we are in a fair game now.”On Friday, investors were also digesting another heavy +batch of corporate results.Shares of Apple, the largest U.S. company by market +value, rose 2.4%. The company forecast that revenue would fall +for a second quarter in a row but that iPhone sales were likely +to improve as production had returned to normal in China.Shares of Amazon slumped 8.4% as the company said +operating profit could fall to zero in the current quarter as +savings from layoffs do not make up for the financial impact of +consumers and cloud customers clamping down on spending.Alphabet shares dropped 2.7% after the Google +parent posted fourth-quarter profit and sales short of Wall +Street expectations.In other corporate news, Ford Motor shares slid 7.6% +after the automaker predicted a difficult year ahead.Declining issues outnumbered advancing ones on the NYSE by a +2.82-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored decliners.The S&P 500 posted 16 new 52-week highs and one new low; the +Nasdaq Composite recorded 127 new highs and 16 new lows.About 12.8 billion shares changed hands in U.S. exchanges, +compared with the 11.9 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian; Additional reporting by Shubham Batra; Editing +by Sriraj Kalluvila, Maju Samuel and Cynthia Osterman) \ No newline at end of file diff --git a/news/GOOG/2023.02.03/Wall Street sinks after stunning jobs growth raises questions about Fed.txt b/news/GOOG/2023.02.03/Wall Street sinks after stunning jobs growth raises questions about Fed.txt new file mode 100644 index 0000000000000000000000000000000000000000..caf292f8e595636d3d31c184d961e5576f689331 --- /dev/null +++ b/news/GOOG/2023.02.03/Wall Street sinks after stunning jobs growth raises questions about Fed.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. reports blowout job data; unemployment lowest since +1969*Megapcap earnings reactions: Apple up; Amazon, Alphabet +slump*Ford Motor drops on downbeat outlook*Indexes down: Dow 0.39%, S&P 0.91%, Nasdaq 1.25%(Updates with mid-afternoon trading)Feb 3 (Reuters) - Major U.S. stock indexes fell in +choppy trading on Friday after surprisingly strong jobs data +sparked concerns about aggressive Federal Reserve action, while +investors digested a mixed bag of megacap company earnings +reports.The S&P 500 was still set to end the week with gains and was +not far from five-month highs, while the Nasdaq was on pace for +its fifth straight weekly rise.U.S. job growth accelerated sharply in January, with nonfarm +payrolls surging by 517,000 jobs, well above an estimate of +185,000. The unemployment rate hit a more than 53-1/2-year low +of 3.4%.In another sign of economic strength, U.S. services industry +activity rebounded strongly in January.Investors have been balancing hopeful signs that the economy +could avoid a feared recession against concerns about how long +the Fed will keep interest rates high to rein in inflation. The +S&P 500 gained earlier this week after more dovish-than-expected +comments from Fed Chair Jerome Powell, who acknowledged progress +in the fight against inflation.The jobs report "was an incredible surprise and it raises a +lot of questions about what the Fed is going to do next,” said +Kristina Hooper, chief global market strategist at Invesco. +“What I think is causing some of the volatility is markets +trying to make sense of how the Fed will perceive this.”The Dow Jones Industrial Average fell 132.16 points, +or 0.39%, to 33,921.78, the S&P 500 lost 37.88 points, or +0.91%, to 4,141.88 and the Nasdaq Composite dropped +152.08 points, or 1.25%, to 12,048.74.Wall Street's main indexes have had a solid start to the +year as tech and other stocks that struggled last year have +rebounded, fueled by hopes that the Fed's rate hikes would soon +end and the economy might be able to navigate a soft landing.On Friday, investors were also digesting another heavy +batch of corporate results.Shares of Apple, the largest U.S. company by market +value, were up 3%. The company forecast that revenue would fall +for a second quarter in a row but that iPhone sales were likely +to improve as production had returned to normal in China.Shares of Amazon slumped more than 7% as the +company said operating profit could fall to zero in the current +quarter as savings from layoffs do not make up for the financial +impact of consumers and cloud customers clamping down on +spending.Alphabet shares shed over 2% after the Google +parent posted fourth-quarter profit and sales short of Wall +Street expectations.In other corporate news, Ford Motor shares slid over +7% after the automaker predicted a difficult year ahead.Declining issues outnumbered advancing ones on the NYSE by a +2.69-to-1 ratio; on Nasdaq, a 1.55-to-1 ratio favored decliners.The S&P 500 posted 15 new 52-week highs and one new low; the +Nasdaq Composite recorded 103 new highs and 10 new lows. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian; Additional reporting by Shubham Batra; Editing +by Sriraj Kalluvila, Maju Samuel and Cynthia Osterman) \ No newline at end of file diff --git a/news/GOOG/2023.02.04/Object believed to be Chinese balloon seen over North Carolina.txt b/news/GOOG/2023.02.04/Object believed to be Chinese balloon seen over North Carolina.txt new file mode 100644 index 0000000000000000000000000000000000000000..7c431e9ca8fafd18e24f3d402cf6a1a1538d9caf --- /dev/null +++ b/news/GOOG/2023.02.04/Object believed to be Chinese balloon seen over North Carolina.txt @@ -0,0 +1 @@ +China earlier expressed regret that an "airship" used for civilian meteorological and other scientific purposes had strayed into U.S. airspace.Reuters was able to verify the location of the video by buildings that matched Google Street View imagery. Reuters could not independently confirm the images were of a spy balloon. \ No newline at end of file diff --git a/news/GOOG/2023.02.06/AI startup Cohere in talks to raise funding at $6 billion plus valuation -sources.txt b/news/GOOG/2023.02.06/AI startup Cohere in talks to raise funding at $6 billion plus valuation -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..418e53d0cee643175dc49eb789ffb0430602b685 --- /dev/null +++ b/news/GOOG/2023.02.06/AI startup Cohere in talks to raise funding at $6 billion plus valuation -sources.txt @@ -0,0 +1 @@ +(Reuters) - Cohere, an AI foundation model company that competes with Microsoft-backed OpenAI, is in talks to raise hundreds of millions of dollars in a funding round that could value the startup at more than $6 billion, sources told Reuters, in the latest sign of the investment frenzy around generative AI.Toronto-based Cohere, established by former researchers at Alphabet in 2019, has quickly risen through the AI startup ranks given their intensive research background and close ties to Google, investors said.Foundation models are AI systems that are trained on large sets of data, with the ability to learn from new data to perform a variety of tasks. Generative AI aims to make human-like creations through computer code that has processed vast amounts of data.Cohere is planning on introducing a new dialogue model that would resemble ChatGPT to let enterprise users generate text and engage with the model to refine the output. Unlike ChatGPT, Cohere's technology will mainly be accessible to developers and businesses, CEO Aidan Gomez told Reuters in an interview."Our chat models are focused more on business applicable tasks like answering questions than writing poems. We don't plan to hand them over to everyone to use for free without limit," said Gomez. "We want to build a healthy and sustainable business."Gomez declined to comment on the funding status of the company.It was not immediately clear how much Cohere was seeking to raise in the current round. Sources requested anonymity for discussing private funding matters. Cohere has raised $170 million to date from funds including Index Ventures, Tiger Global and AI luminaries Geoffrey Hinton, Fei-Fei Li and Pieter Abbeel.FOCUS ON NLPFocusing on training natural language processing (NLP) models, Cohere competes with a group of foundation model providers such as OpenAI and Anthropic.Gomez said the company differentiates itself by focusing on serving enterprise users, and Cohere has been talking to companies from marketing, consulting and tech to help them incorporate generative AI.Cohere announced a cloud partnership with Alphabet to access its TPU computing power last year. Its language AI also becomes available on Amazon's fully managed machine learning service SageMaker in January.Last month, Cohere hired Martin Kon, the former chief finance executive at YouTube, to lead its product and market strategy. Cohere is powering some consumer applications including Hyperwrite, which helps people write faster and generate articles using AI."We expect this year to be a breakout year for us to bring in enterprise customers," said Gomez.Gomez said Cohere will focus on text generation models, unlike its peer OpenAI which has released GPT-3 model for text as well as DALL-E for image generation.Since the launch of ChatGPT in November, the technology that can generate prose, imagery or computer code on command has attracted investors' attention. Other foundation model providers such as Anthropic is also in talks to raise funding at multi-billion valuations, investor sources said.With Microsoft Corp's $10 billion investment in OpenAI, other big tech companies, including Alphabet and Oracle, are also looking at investing in AI startups, sources said.Gomez said Cohere will not take strategic investments that require exclusive rights. "It's important for us to stay independent and work with different cloud providers," said Gomez. (Reporting by Krystal Hu in Toronto; Editing by Kenneth Li and Grant McCool)By Krystal Hu \ No newline at end of file diff --git a/news/GOOG/2023.02.06/Alphabet A : Bernstein reiterates its Buy rating.txt b/news/GOOG/2023.02.06/Alphabet A : Bernstein reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..138b70fb4cc7067174c47be523043be9dbb3eb1d --- /dev/null +++ b/news/GOOG/2023.02.06/Alphabet A : Bernstein reiterates its Buy rating.txt @@ -0,0 +1 @@ +Mark Shmulik from Bernstein retains his positive opinion on the stock with a Buy rating. The target price is being increased from USD 125 to USD 130. \ No newline at end of file diff --git a/news/GOOG/2023.02.06/Alphabet A : UBS reiterates its Buy rating.txt b/news/GOOG/2023.02.06/Alphabet A : UBS reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..a487f37c50c9ffe598ff4bd8e2492b4e427ce793 --- /dev/null +++ b/news/GOOG/2023.02.06/Alphabet A : UBS reiterates its Buy rating.txt @@ -0,0 +1 @@ +In a research note published by Lloyd Walmsley, UBS advises its customers to buy the stock. The target price is unchanged and still at USD 110. \ No newline at end of file diff --git a/news/GOOG/2023.02.06/Alphabet A : UBS remains its Buy rating.txt b/news/GOOG/2023.02.06/Alphabet A : UBS remains its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..39f3fc9e8aba7943fca67c211717220587f755cd --- /dev/null +++ b/news/GOOG/2023.02.06/Alphabet A : UBS remains its Buy rating.txt @@ -0,0 +1 @@ +UBS analyst Lloyd Walmsley maintains his Buy rating on the stock. The target price is being increased from USD 110 to USD 120. \ No newline at end of file diff --git a/news/GOOG/2023.02.06/Analysis-Dollar's gyrations raise hedging costs for U.S. companies.txt b/news/GOOG/2023.02.06/Analysis-Dollar's gyrations raise hedging costs for U.S. companies.txt new file mode 100644 index 0000000000000000000000000000000000000000..8f9cbbb109c2853da701582ba94ca42d4c6b40bf --- /dev/null +++ b/news/GOOG/2023.02.06/Analysis-Dollar's gyrations raise hedging costs for U.S. companies.txt @@ -0,0 +1 @@ +Currency volatility drove the J.P. Morgan VXY G7 Index in September to its highest in more than two years. Volatility is still elevated at 10.1, above a 10-year average of 8.34. Currency gyrations hit corporate behemoths like IBM, which cited FX in reporting a $3.5 billion decrease in its 2022 revenue in fourth quarter earnings, while Facebook parent Meta Platforms said its $32.2 billion revenue last quarter would have been $2 billion higher if not for currency headwinds.In the third quarter of 2022, North American and European companies reported $47.18 billion in negative currency impacts, 26% steeper than the loss in the previous quarter, according to Kyriba's Quarterly Currency Impact Report released on Tuesday."FX Volatility is a critical concern for corporate CEOs and their finance chiefs even as the (dollar) has weakened against... other currencies that US corporates are exposed to," Andy Gage, senior vice-president of FX solutions and advisory at Kyriba. The dollar is down more than 7% against a basket of currencies over the last three months, after rising to a 20-year high in 2022. This may be welcome news for companies looking to regain some of last year's losses, but "volatility remains especially concerning as organizations finalize year-end reporting and prepare guidance for 2023," Gage said.A strong dollar means income earned overseas for U.S.-based companies is worth less when converted and makes U.S. goods less competitive abroad. Though the dollar has pared its rally, strategists expect more gyrations in currency markets this year, as central banks adjust monetary policies to fight inflation. Volatility, which causes wider bid-ask spreads and makes hedging more expensive, is causing companies to reassess their hedging programs.LOOKING FOR OPTIONS Companies typically use FX forwards to lock in future exchange rates to minimize currency risks, allowing them to agree an exchange rate ahead of time.As the Federal Reserve aggressively hiked U.S. rates, forward points have increased across many currency pairs containing USD, said Amol Dhargalkar, managing partner and chairman at Chatham Financial.Refinitiv data shows that price on a three-month EURUSD forward rose to 65.52 in December from 20.61 in January 2022. For the British pound it was 23.77 from -5.70 for the same period."There's a psychology and a desire not to lock in lows or highs, depending on which direction you're going on the currency," said Dhargalkar.Some companies are using options to protect against losses caused by exchange rates. This could mean they will benefit if currency fluctuations work in their favor.Abhishek Sachdev, CEO at Vedanta Hedging in the UK, said 30% more of his mid-market clients are using options than a year ago. Though most FX options trading happens bilaterally with banks, the volume of listed FX options at CME Group rose 16% year-on-year in 2022, representing an average of more than 42,000 contracts daily or the equivalent of $4.4 billion notional in trading.Options have their own drawbacks, sources said. Volatility has increased the costs of using options to hedge, creating one hindrance to wider adoption, said Dhargalkar. For instance, implied volatility on a six-months at-the-money EUR/USD option in early December was around 9% versus 6% a year ago, according to Refinitiv data, meaning companies were paying more for the rights that options provide.SPREADING BETS Another way businesses are trying to minimize hedging costs is by spreading currency management around to more brokers outside of their main clearing banks, hedging advisors said.While most currency trading still happens via major banks, third-party firms have grabbed market niches.Revenue at Argentex Group, a riskless principal broker, has risen 63% from to 2021 as FX volatility elevated corporate hedging needs. MillTechFX, a division of independent currency specialist Millennium Global Group has been doubling its number of clients, pushing up its monthly revenues more than 130% since August.While currency gyrations have ebbed and hedging costs have declined, "volatility and inflation remain a concern for many companies," Kyriba's Gage said. (Reporting by Laura Matthews; Editing by Megan Davies and David Gregorio)By Laura Matthews \ No newline at end of file diff --git a/news/GOOG/2023.02.06/Big Tech not doing enough to remove fake news, activist NGO Avaaz says.txt b/news/GOOG/2023.02.06/Big Tech not doing enough to remove fake news, activist NGO Avaaz says.txt new file mode 100644 index 0000000000000000000000000000000000000000..f8bbfbafd3f07c241fe7c9ba2718107d7586b731 --- /dev/null +++ b/news/GOOG/2023.02.06/Big Tech not doing enough to remove fake news, activist NGO Avaaz says.txt @@ -0,0 +1 @@ +The companies are due to present reports this week on the measures they have taken to comply with the updated EU code of practice on disinformation which is linked to the online content rules known as the Digital Services Act (DSA) that came into force last November.Avaaz said it analysed a sample pool of 108 fact-checked pieces of content related to a 2022 American anti-vaccine film and found efforts by the social media platforms including Meta's Instagram to remove disinformation fell short."Overall, just 22% of disinformation content we analysed was either labelled or removed by the six major platforms," Avaaz said.It said the companies did not do enough to tackle disinformation in languages other than English."Despite explicit platform commitments in the code to improve their services in all EU languages, our research found that in certain EU languages - Italian, German, Hungarian, Danish, Spanish and Estonian - no platform took any action against violating posts," Avaaz said."This study suggests that most of the major platforms are failing to comply with their Code of Practice commitments and might infringe upcoming DSA obligations," the group said.Meta, Alphabet, Twitter and Microsoft last year vowed to take a tougher line against disinformation after committing to the updated EU code.Companies face fines up to 6% of their global turnover for DSA violations. (Reporting by Foo Yun Chee)By Foo Yun Chee \ No newline at end of file diff --git a/news/GOOG/2023.02.06/Dell to slash over 6,000 jobs amid 'uncertain market future'.txt b/news/GOOG/2023.02.06/Dell to slash over 6,000 jobs amid 'uncertain market future'.txt new file mode 100644 index 0000000000000000000000000000000000000000..3486396f3f935687f8e7c7d0bfbb078f038647d0 --- /dev/null +++ b/news/GOOG/2023.02.06/Dell to slash over 6,000 jobs amid 'uncertain market future'.txt @@ -0,0 +1,24 @@ +Feb 6 (Reuters) - Dell Technologies Inc is +cutting about 6,650 jobs, or 5% of its global workforce, as it +struggles with a slump in the personal computer market and +braces for a potential recession.The move on Monday aligns Dell with a raft of U.S. companies +from Goldman Sachs Group Inc to Alphabet Inc +that have laid off thousands this year to ride out a demand +downturn wrought by high inflation and rising interest rates.Dell had already rolled out cost-cutting moves such as a +hiring pause and limits on travel as it dealt with a +post-pandemic collapse in PC sales, which account more than half +of its revenue.However, those moves are "no longer enough", co-Chief +Operating Officer Jeff Clarke wrote in a memo to employees."What we know is market conditions continue to erode with an +uncertain future," Clarke said. Dell expects to book costs +related to the layoffs in its fiscal fourth quarter, which ends +in January.Rival HP Inc has also said it will cut up to 6,000 +jobs. The market for PCs and tablets is set for another year of +decline in 2023 with a fall of 2.6%, according to research firm +IDC, after rapid growth during the pandemic on the back of +remote working."It was only a matter of time before the wave of tech +layoffs reached Dell's shores, given how sensitive the company +is to both consumer and corporate confidence," said Susannah +Streeter, markets analyst, Hargreaves Lansdown.Dell had about 133,000 employees as of Jan. 28, 2022, of +which, about one-third were based in the United States.The layoffs were first reported by Bloomberg News earlier on +Monday.Dell's shares were flat before the bell.(Reporting by Shivani Tanna and Eva Mathews in Bengaluru; +Editing by Savio D'Souza and Shounak Dasgupta) \ No newline at end of file diff --git a/news/GOOG/2023.02.06/EU's Breton urges rethink on cross-border telecoms mergers.txt b/news/GOOG/2023.02.06/EU's Breton urges rethink on cross-border telecoms mergers.txt new file mode 100644 index 0000000000000000000000000000000000000000..12ec8985308bd9f0358c4e0f1838685f759d6c82 --- /dev/null +++ b/news/GOOG/2023.02.06/EU's Breton urges rethink on cross-border telecoms mergers.txt @@ -0,0 +1 @@ +EU antitrust chief Margrethe Vestager has been reluctant to allow telecoms providers acquire EU peers without hefty remedies, especially when deals reduce the number of players from four to three, underlining concerns about the market power of fewer but larger telecoms operators.The telecoms industry however said consolidation is required to pool resources to roll out costly fast-speed broadband and 5G."I believe that creating a true single market for telecommunications services also requires a reflection on encouraging cross-border consolidation, all while preserving fair and necessary competition for the benefit of our consumers," Breton said in a speech to be delivered at an event in Helsinki.On the issue of whether Alphabet Inc's Google, Meta, Amazon.com Inc, Netflix Inc, Apple Inc and Microsoft Corp should bear some network costs, Breton said the European Commission will launch a consultation this month on the topic."The investments which will be required to achieve our ambitions will be enormous and we need to ensure that they are matched by the availability of sufficient funding. The burden of this financing should not be only on the shoulders of the member states or the EU budget," he said."At a time when technology companies are using most bandwidth and telco operators are seeing their return on investment drop, this also raises the question of who pays for the next generation of connectivity infrastructure," Breton said. (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)By Foo Yun Chee \ No newline at end of file diff --git a/news/GOOG/2023.02.06/Google opens Bard chatbot to test users, plans more AI for search.txt b/news/GOOG/2023.02.06/Google opens Bard chatbot to test users, plans more AI for search.txt new file mode 100644 index 0000000000000000000000000000000000000000..9ecd50a00fddf33498e8a1afd5c8931aa48de77f --- /dev/null +++ b/news/GOOG/2023.02.06/Google opens Bard chatbot to test users, plans more AI for search.txt @@ -0,0 +1 @@ +In a blog post on Monday, Alphabet CEO Sundar Pichai said the company is opening a conversational AI service called Bard to test users for feedback, followed by a public release in the coming weeks. (Reporting By Jeffrey Dastin in Palo Alto, Calif.; Editing by Chris Reese) \ No newline at end of file diff --git a/news/GOOG/2023.02.06/Google unveils ChatGPT rival Bard.txt b/news/GOOG/2023.02.06/Google unveils ChatGPT rival Bard.txt new file mode 100644 index 0000000000000000000000000000000000000000..0beda7a53bce2e67bd306b32250fe26567392be3 --- /dev/null +++ b/news/GOOG/2023.02.06/Google unveils ChatGPT rival Bard.txt @@ -0,0 +1 @@ +Google parent Alphabet on Monday announced plans to launch Bard - an artificial intelligence chatbot service.Bard will be released to test users before being released to the public in the coming weeks.Powering Bard is LaMDA, Google's AI that can generate prose so human-like that a company engineer last year called it sentient - or able to perceive or feel things - a claim the technology giant and scientists widely dismissed.This news follows recent statements by Microsoft that it aims to infuse AI into all its products following the launch of the explosively popular ChatGPT - the chatbot sensation which can generate articles, essays, jokes and even poetry in response to prompts.Microsoft is an investor in and partner with ChatGPT's maker, OpenAI.It has been rated the fastest-growing consumer app in history.Alphabet Chief Executive Sundar Pichai said Google also plans to add AI-powered features to its search engine to synthesize information to answer complex queries.Pichai said Google will give tools, first powered by LaMDA and later by other AI technology, to web developers, creators and enterprises starting next month. \ No newline at end of file diff --git a/news/GOOG/2023.02.06/India's Paytm jumps over 7% on ahead-of-schedule operating profit.txt b/news/GOOG/2023.02.06/India's Paytm jumps over 7% on ahead-of-schedule operating profit.txt new file mode 100644 index 0000000000000000000000000000000000000000..9096dd3a6ed8d81a9babc58c548e41452832f967 --- /dev/null +++ b/news/GOOG/2023.02.06/India's Paytm jumps over 7% on ahead-of-schedule operating profit.txt @@ -0,0 +1,28 @@ +BENGALURU, Feb 6 (Reuters) - Shares of India's Paytm +rose as much as 7.4% on Monday, in their biggest +intraday jump in nearly two months after the fintech company +unexpectedly posted its first-ever quarterly operating profit as +a listed firm.Paytm posted earnings before interest, taxes, depreciation, +and amortization, or EBITDA, of 310 million rupees ($3.8 +million) for the October-December quarter, nine months ahead of +its stated target of September 2023."This was mainly on the back of rising mix of high-margin +lending revenue, improving merchant subscription, reducing +payment processing and promotional charges," BofA Securities +analysts said in a note.There has been a cloud over the ability of the company, +which is backed by China's Ant Group and Japan's SoftBank Group +Corp, to turn profitable ever since its initial public +offer (IPO), still India's biggest ever, in November 2021.That has led to a 75% tumble in the stock since the IPO.While Paytm still posted a net loss for the third quarter, +it nearly halved due to surging demand for buy-now-pay-later +(BNPL) loans at its fast-growing financial services business.While BNPL loan disbursement rocketed four-foldin the +quarter, net margins in Paytm's digital payments division more +than doubled to 4.59 billion.The eponymous payments business had a 14.7% share of India's +digital payment space in December, lagging Walmart-backed +PhonePe's 46% share and Alphabet Inc-owned Google Pay's +34% share, according to official data.Nonetheless, turning EBITDA positive will be a near-term +catalyst, said BofA, keeping its "neutral" rating on the stock."Management's commentary around sustaining along the +profitability path will be key," the brokerage said.Paytm has also previously said it expects to become free +cash flow positive this year.The stock was last up about 4.7% at 550 rupees as of 10:53 +a.m. IST. It had slid 3.6% this year through Friday. +($1 = 82.4050 Indian rupees) +(Reporting by Nandan Mandayam in Bengaluru; Editing by Savio +D'Souza) \ No newline at end of file diff --git a/news/GOOG/2023.02.06/Insig AI shares up on new AI integration capabilities.txt b/news/GOOG/2023.02.06/Insig AI shares up on new AI integration capabilities.txt new file mode 100644 index 0000000000000000000000000000000000000000..46ff1d26ed6d9ea190de75044c5500409ba974ae --- /dev/null +++ b/news/GOOG/2023.02.06/Insig AI shares up on new AI integration capabilities.txt @@ -0,0 +1 @@ +Insig AI PLC - London-based data science and machine learning - Says it has conducted a series of tests using ChatGPT and other Generative AI models, and it is now able to integrate "the latest AI capabilities" from Alphabet Inc's Google, Open AI and the most advanced models such as ChatGPT and GPT-3. "We regard the advancement of this type of text based analysis as the ideal overlay to our existing repository of machine readable ESG and corporate data. Combining the deep contextual understanding that ChatGPT brings with our highly focused ESG natural language processing classifiers will provide differentiation in surfacing the most relevant ESG disclosures, thereby increasing overall analysis and productivity," Insig says.Chief Product Officer Steve Cracknell says: "Analysing vast volumes of data requires readily accessible machine readable data. Having a strong domain understanding is critical to be able to evaluate the quality of an output. Our machine learning capability, substantial repository and extensive cloud expertise ideally positions Insig AI to benefit from this technological breakthrough."Current stock price: 16.44 pence, up 6.1% in London on Monday morning12-month change: down 58%By Sophie Rose, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/GOOG/2023.02.06/Saudi Arabia says tech giants to invest more than $9 bln in kingdom.txt b/news/GOOG/2023.02.06/Saudi Arabia says tech giants to invest more than $9 bln in kingdom.txt new file mode 100644 index 0000000000000000000000000000000000000000..cf8cb78dff56d8252bb2979dc47b3d8c80f815e9 --- /dev/null +++ b/news/GOOG/2023.02.06/Saudi Arabia says tech giants to invest more than $9 bln in kingdom.txt @@ -0,0 +1,28 @@ +RIYADH, Feb 6 (Reuters) - Saudi Arabia has attracted +more than $9 billion in investments in future technologies, +including by U.S. giants Microsoft and Oracle Corp +, which are building cloud regions in the kingdom, a +government minister said on Monday.Saudi Minister of Communication and Information Technology +Abdullah Alswaha said Microsoft will invest $2.1 billion in a +global super-scaler cloud, while Oracle has committed $1.5 +billion to build a new cloud region in Riyadh."The investments... will enhance the kingdom of Saudi +Arabia's position as the largest digital market in the Middle +East and North Africa," Alswaha said at LEAP, an international +technology forum taking place in Riyadh.Alswaha did not give details on the timeframe. Oracle told +Reuters the investment will be made over several years.Saudi officials have pressed international companies to +invest in the kingdom and move their regional headquarters to +Riyadh in order to benefit from government contracts.The kingdom has been pouring hundreds of billions of dollars +into an economic plan, known as Vision 2030, led by its de facto +ruler Crown Prince Mohammed bin Salman.But it has struggled to attract foreign direct investment +(FDI), one of the pillars of Vision 2030, which aims to +diversify the economy away from oil.The minister said China's Huawei will also invest +$400 million in cloud infrastructure for its services in Saudi +Arabia and another cloud region in partnership with oil giant +Aramco.An additional $4.5 billion was invested in global and local +assets across multiple sectors at the forum, Alswaha added.Tonomus, a subsidiary of the $500 billion signature NEOM +project of the crown prince, said last year it invested $1 +billion in 2022 in AI, including a metaverse platform.Increased demand for cloud computing has pushed technology +companies such as Oracle, Microsoft, Amazon and +Alphabet's Google to set up data centres across the +world to speed up data transfer. +(Reporting by Aziz El Yaakoubi; Editing by Sharon Singleton) \ No newline at end of file diff --git a/news/GOOG/2023.02.06/U.S. employment weighs on markets.txt b/news/GOOG/2023.02.06/U.S. employment weighs on markets.txt new file mode 100644 index 0000000000000000000000000000000000000000..2af7582aa51c68dd30b4c03bfa5ad8e7b7677bf0 --- /dev/null +++ b/news/GOOG/2023.02.06/U.S. employment weighs on markets.txt @@ -0,0 +1,43 @@ + +Equity markets posted another weekly gain, but the party was spoiled by a complicated Friday session in the US. Going into the details, quite a bit has happened in the last few sessions, of which I will focus on citing the most important here. +Firstly, The Fed's first monetary policy decision of 2023 was in line with expectations, with a small rate hike. But Jerome Powell was less combative than expected, which increased investors' risk appetite, who believe that the US central bank is moving towards a more favorable policy.  +Secondly, big American technology groups such as Apple, Alphabet, and Amazon have published mediocre quarterly results. Don't worry about them, they are still raking in billions. But they are not so proud of it because the sales figures are not so good. I would like to remind you that it is complicated to make a turnover look better than it really is. But it is quite easy to make earnings per share match market expectations with a minimum of accounting ingenuity and a few well-intentioned share buybacks. +Thirdly, the monthly US employment report published on Friday highlighted the saying "good news for the economy is not necessarily good news for the financial markets". Because the US economy is still going strong, at least from the point of view of the labor market where job creation is explosive and the unemployment rate is at a low point (for a more nuanced view, read a paper by economist James Knightley here). Written like that, it sounds like good news. And it probably is. But not from the point of view of US central bankers, who fear that this momentum could undermine their efforts to slash inflation in a sustainable way. At this stage, there are no signs of a price-wage spiral (rising prices lead to rising wages, which lead to rising prices, which... you get the idea). At least not in the same proportions: wages are rising, but less than prices. However, the statistic dampened the optimism seen in Tuesday, Wednesday and Thursday's sessions. Bond yields accelerated sharply on the 10-year US bond, which is a sign of the return of some tension on the path of monetary policy. But let's not get carried away: these yields are still a long way from the levels of the fall of 2022 when uncertainty about the evolution of inflation was at its peak. +The equity and bond markets feel that the central banks are getting closer to the end of their rate hike cycle. However, some doubts remain and investors are navigating with the statistics that confirm or refute these doubts. Among the main unknowns are + +The precise level of the rate peak +How long rates will remain at the peak level (and by implication the question of when the first drop in the cycle will occur) +And the profound economic consequences of current rate levels (on real estate, corporate financing, household consumption, etc.) + +Returning to last week's performance, Western equity markets posted gains generally between 1 and 2%, rising to over 3% for the Nasdaq 100, the major index that best symbolizes risk appetite. The French CAC40 performed well, gaining nearly 2%. The Parisian index was up thanks to technology companies and its exposure to luxury goods, which is an excellent mirror of the Chinese recovery. +Let's talk about China because Hong Kong and Shanghai are down sharply this morning. This is due to the renewed geopolitical tension between Washington and Beijing after the case of the Chinese observation balloon that drifted in the sky of the United States last week. The discovery of the balloon was initially surprising, but then China explained that it was a civilian balloon that had gone astray, which nobody believed. The balloon was eventually shot down: America could not afford to let a Chinese craft roam in its airspace. Beijing took offense. This is the typical action-reaction game of this kind of situation. Nevertheless, this affair comes at a bad time, since the two powers had planned to hold high-level talks. +In other news over the weekend, India will ban betting and lending apps linked to China. The EU is imposing a cap on Russian diesel exports and a massive earthquake hit southern Turkey and Syria. The macroeconomic calendar will be mostly filled with Asia this week, but it seems that investors are more concerned with the Fed boss' speech tomorrow at 6 pm. Will he get a clear message across after seeming to miss the point last week? That is the question. On the corporate front, the list is still particularly long this week. I'll mention a few to get you in the mood: Linde, BP Plc, BNP Paribas, Carlsberg (Tuesday), Walt Disney, TotalEnergies, CVS Health, Uber, AP Moller Maersk, Adyen, Societe Generale, Akzo, Amundi (Wednesday), AbbVie, PepsiCo, AstraZeneca, L'Oréal, Philip Morris, Unilever, S&P Global, PayPal, Siemens, Vinci, Compass, KBC, Legrand, Crédit Agricole (Thursday). Finally, there were a few capital transactions, including the "unsolicited" takeover offers of Newcrest by Newmont Corporation (that's in gold mining) and of Life Storage by Public Storage (that's in personal storage). +Economic highlights of the day: +German factory orders in December (3:00 am) and Eurozone retail sales in December (5:00am) will enliven the session. All the agenda here. +  +The dollar is up 0.2% to EUR 0.9288 and down 0.07% to GBP 0.8298. The ounce of gold is down to 1872 USD. Oil is also under pressure, with North Sea Brent crude at USD 80.18 a barrel and US WTI light crude at USD 73.70. The yield on 10-year US debt rebounds to 3.55%. Bitcoin is falling back to around USD 22,800. + +In corporate news: + +Newmont said it has made a $16.9 billion bid for Australian miner Newcrest Mining to build a global gold conglomerate. +Chevron has entered into negotiations with Algeria to undertake energy exploration activities in the North African country.  +Dell will cut about 6,650 jobs, or about 5 percent of the computer giant's global workforce, due to declining demand for its personal computers. +Oracle plans to invest $1.5 billion in Saudi Arabia in the coming years to build its cloud presence in the country. +Public Storage, the largest U.S. operator of self-storage properties, announced Sunday that it had made an unsolicited $11 billion bid for rival Life Storage Inc. +Carlyle has hired Harvey Schwartz, a former Goldman Sachs executive, as the private equity firm's next chief executive. +Tesla raised U.S. prices for its best-selling Model Y vehicle by $1,000 after the government raised the price cap on crossover electric vehicles eligible for tax credits. +Rogers - Starboard Value has amassed a significant stake in the electronic materials company and is seeking seats on the group's board. +Southwest Airlines - The airline's chief operating officer, Andrew Watterson, will testify on Feb. 9 before the U.S. Senate Commerce Committee after the group's operational problems in December led to the cancellation of more than 16,000 flights. + +Analyst recommendations: + +Hartford Financial Services Group: Piper Sandler raised the target to $96 from $83. Maintains overweight rating. +Lear: Evercore upgrades to inline from outperform. PT up 2.7% to $145. +M/I Homes: Wedbush raised the target to $73 from $63. Maintains outperform rating. +NVR: KeyBanc Capital Markets starts NVR at Sector Perform with $6,000 Price Target. +Pool: Stifel downgrades to hold from buy targeting $360. +RH: Telsey Advisory Group cut the recommendation to market perform from outperform. Price Target down 4% to $330. +Saia: Benchmark Company maintains buy rating to $320 from $230. Maintains buy rating. +Tesla: Guggenheim raised to $105 from $89. + + diff --git a/news/GOOG/2023.02.07/ChatGPT mania pumps up Chinese AI technology stocks.txt b/news/GOOG/2023.02.07/ChatGPT mania pumps up Chinese AI technology stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..b2e15706c37e7431bc511588c2cc37ee7089b5cc --- /dev/null +++ b/news/GOOG/2023.02.07/ChatGPT mania pumps up Chinese AI technology stocks.txt @@ -0,0 +1 @@ +Just two months after its launch, ChatGPT - which can generate articles, essays, jokes and even poetry in response to prompts - has been rated the fastest-growing consumer app in history. That has pushed Google owner Alphabet Inc to plan its own chatbot service and using more artificial intelligence for its search engine.While ChatGPT is not accessible in China, mainland investors are still pumping up the shares of AI technology companies such as Hanwang Technology Co, TRS Information Technology Co and Cloudwalk Technology Co.The CSI AI Industry Index, which includes larger capitalized companies such as iFlytek Co, is up about 17% this year, outperforming the benchmark CSI300 Index's 6% rise. To be sure, there is no indication that these AI companies are close to pushing out a ChatGPT-like product. The closest seems to be search engine giant Baidu Inc with plans to complete testing of its "Ernie bot" in March. Its shares surged more than 13% on Tuesday after making the announcement."The industry as a whole tends to first speculate on expectations before only later trading on actual results," said Zhang Kexing, general manager of Beijing Gelei Asset Management.Shares of Hanwang Technology, which makes products that enable intelligent interactions, jumped by their daily limit of 10% for the seven sessions after markets reopened from the Lunar New Year holiday, boosting prices by more than 60% so far in February. The company expects to report an annual loss for 2022 but believes it has an edge over an interface like ChatGPT because its model can produce more precise results for clients. Cloudwalk shares have more than doubled in the seven trading days since the Lunar New Year holidays. On Tuesday, the company cautioned investors, saying its losses deepened in 2022, it has not cooperated with OpenAI, and has generated no revenues from ChatGPT-related services and products. Other companies that have disclosed their progress in AI technology include TRS Information Technology, and Beijing Haitian Ruisheng Science Technology Ltd. Their share prices have soared too. The price surge has stretched valuations. TRS for example, trades at nearly 60 times earnings, while Huisheng's price-to-earnings ratio is more than 240.Retail investor Lu Deyong has purchased shares in TRS and iFlytek and is seeking to profit from the ChatGPT hype."ChatGPT is just a hot idea," he said. However, he doesn't think "China can realize such a technology in the short term.""For us retail investors, we prefer smaller stocks with this concept to make some quick money," Lu said. (Reporting by Samuel Shen, Jason Xue and Brenda Goh; Editing by Vidya Ranganathan and Christian Schmollinger) \ No newline at end of file diff --git a/news/GOOG/2023.02.07/Ebay to lay off 500 employees.txt b/news/GOOG/2023.02.07/Ebay to lay off 500 employees.txt new file mode 100644 index 0000000000000000000000000000000000000000..133c47b5e5eca5a83022a0a7faff2770b09836a1 --- /dev/null +++ b/news/GOOG/2023.02.07/Ebay to lay off 500 employees.txt @@ -0,0 +1 @@ +Shares of the San Jose, California-based company rose about 1% in aftermarket trade. "This shift gives us additional space to invest and create new roles in high-potential areas - new technologies, customer innovations and key markets," said Jamie Iannone, Chief Executive Officer of Ebay in a message to employees. A raft of U.S. companies from Goldman Sachs Group Inc to Alphabet Inc have laid off thousands this year to ride out a demand downturn wrought by high inflation and rising interest rates. (Reporting by Chavi Mehta and Shreyaa Narayanan in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/GOOG/2023.02.07/Ex-Twitter privacy chief takes job at social media app BeReal.txt b/news/GOOG/2023.02.07/Ex-Twitter privacy chief takes job at social media app BeReal.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d793a8b8784782b7b5b38750d95342b0a07a541 --- /dev/null +++ b/news/GOOG/2023.02.07/Ex-Twitter privacy chief takes job at social media app BeReal.txt @@ -0,0 +1,22 @@ +(Reuters) - Damien Kieran, who resigned as Twitter +Inc's chief privacy officer in November after Elon +Musk took over the social media giant, has joined photo sharing +app-maker BeReal as its top lawyer.Kieran started Monday as general counsel at Paris-based +BeReal, he said in posts on LinkedIn and Twitter. "The product, +the people, and the potential lured me in," he wrote on +LinkedIn.Kieran and BeReal, whose popular social media app prompts +users to share a daily photo, did not immediately respond to +requests for comment.In addition to his role as chief privacy officer, Kieran was +also vice president and deputy general counsel at Twitter before +leaving in November, according to his LinkedIn account.He resigned along with other Twitter executives, including +chief information security officer Lea Kissner and chief +compliance officer Marianne Fogarty, two weeks after Musk +completed his $44 billion acquisition and became CEO.Musk fired Twitter's legal affairs and policy chief Vijaya +Gadde in October. Other top lawyers, including deputy general +counsel James Baker, have also been fired or resigned.Twitter did not immediately respond to a request for comment +Tuesday about its current legal staffing, and it is unclear how +many lawyers remain. Several in-house lawyers have taken on new +roles since November, according to LinkedIn updates.Kieran joined Twitter in 2016. He previously worked as an +associate at law firms Paul, Weiss, Rifkind, Wharton & Garrison +and Weil Gotshal & Manges and in the legal department at +Alphabet Inc's Google, according to his LinkedIn account. \ No newline at end of file diff --git a/news/GOOG/2023.02.07/Exclusive-French adtech firm Criteo in new bid to sell itself -sources.txt b/news/GOOG/2023.02.07/Exclusive-French adtech firm Criteo in new bid to sell itself -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..70295a1d2d989e86afa08d31adb7426b07fb574d --- /dev/null +++ b/news/GOOG/2023.02.07/Exclusive-French adtech firm Criteo in new bid to sell itself -sources.txt @@ -0,0 +1 @@ +The Paris-based company, which is listed in New York, kicked off a sale process last week that could attract other companies and private equity firms, one of the sources said. Investment bank Evercore Inc is advising Criteo on the process, the sources added.Bloomberg News reported in 2021 that Criteo was fielding takeover interest. It was not immediately clear what prompted the new deal talks. The company has been seeking to reassure shareholders it can overcome challenges to its business of tracking consumer data as iPhone maker Apple Inc and Android developer Google tighten privacy standards on their devices. The sources, who cautioned that no deal is certain, requested anonymity as these discussions are confidential. Criteo declined to comment, while an Evercore spokesperson did not immediately respond to a request for comment.Criteo shares jumped on the news and were up 8% at $33.65 in New York on Tuesday, giving the company a market value of about $2 billion.The sale process for Criteo will likely pique the interest of buyout firms that have shown strong interest in audience measurement and analytics companies. In October, Elliott Investment Management's private equity arm and Brookfield Business Partners LP acquired Nielsen Holdings Plc for $16 billion. Truist analyst Matthew Thornton wrote in a note to clients after the Reuters report that his analysis indicated Criteo could fetch more than $60 per share if it was acquired at the same valuation multiple as Nielsen. Criteo collects data through partnerships with companies, ad agencies and brands, and earns money by charging advertisers when consumers click on personalized ads. It has been utilizing so-called first-party media technology, which relies on data that consumers provide to websites either through direct input or through tracking "cookies," to overcome the introduction of privacy settings on devices such as the iPhone. These tactics face new challenges as Google prepares to phase out cookies on its popular web browser Chrome as early as next year. In response, Criteo has been investing in its fast-growing retail media business, which involves partnering directly with the websites of retailers. Criteo has reported adjusted earnings before interest, taxes, depreciation and amortization of $163 million for the first nine months of 2022, down 23% from a year earlier. It is scheduled to report fourth-quarter earnings on Wednesday. (Reporting by Milana Vinn in New York; editing by Jonathan Oatis and Nick Zieminski)By Milana Vinn \ No newline at end of file diff --git a/news/GOOG/2023.02.07/Explainer-Bard vs ChatGPT: What do we know about Google's AI c...txt b/news/GOOG/2023.02.07/Explainer-Bard vs ChatGPT: What do we know about Google's AI c...txt new file mode 100644 index 0000000000000000000000000000000000000000..edd31089f7c2057e83748ff90168be4855ef4318 --- /dev/null +++ b/news/GOOG/2023.02.07/Explainer-Bard vs ChatGPT: What do we know about Google's AI c...txt @@ -0,0 +1 @@ +Just minutes after Google announced the launch of Bard on Monday, Microsoft said it would hold an event at its Redmond headquarters to reveal its own AI, potentially setting the stage for the next Chrome-versus-Internet Explorer or Gmail-versus-Hotmail. Microsoft-backed OpenAI's ChatGPT has taken the tech world by storm since it was opened for public use last year, as people worldwide got creative with prompts that the conversational chatbot uses to create everything from poems and novels to jokes and film scripts. The artificial intelligence service could change how consumers search for information or create content on command and free up time for white-collar workers.Here are some key differences between Bard and ChatGPT: WHAT DO THEY DO?The services that Google's Bard and ChatGPT would offer are similar. Users will have to key in a question, a request or give a prompt to receive a human-like response.Microsoft and Google plan to embed AI tools to bolster their search services Bing and Google Search, which account for a big chunk of revenue. HOW ARE THEY DIFFERENT? Both technologies can distill complex information and multiple perspectives into easy-to-digest formats, but the most apparent difference is Bard's ability to include recent events in the responses.Though not immediately clear how the two services will differ, it is certain that Alphabet's Bard will have access to more data. Bard draws on information from the internet, while ChatGPT has access to data until 2021.LAMDA VERSUS GPTBard is based on LaMDA, short for Language Model for Dialogue Applications. The AI generated text with such skill that a company engineer last year called it sentient, a claim the technology giant and scientists widely dismissed.    OpenAI's GPT, or Generative Pre-trained Transformer, was first released in 2020, and the GPT 3.5 series of language models that finished training in early 2022 is the backbone of ChatGPT."ChatGPT sometimes writes plausible-sounding but incorrect or nonsensical answers," Open AI said in a blog post.WHEN WILL BARD BE AVAILABLE?While OpenAI made a free research preview of ChatGPT available for public use on Nov. 30 last year, Bard is currently only open to a group of testers. Alphabet CEO Sundar Pichai said in a blog post that the conversational AI service will be made widely available in the coming weeks.ARE THERE OTHER ALTERNATIVES?In the two months after ChatGPT's launch, a number of tech companies have doubled down on generative AI technology, while a number of startups are independently working on their own projects.Baidu, China's answer to Google, is the latest company to join the frenzy. Its AI is called Ernie. (Reporting by Nivedita Balu and Akash Sriram in Bengaluru; Editing by Devika Syamnath) \ No newline at end of file diff --git a/news/GOOG/2023.02.07/Marketmind- Market to ChatGPT: what's Powell gotta say?.txt b/news/GOOG/2023.02.07/Marketmind- Market to ChatGPT: what's Powell gotta say?.txt new file mode 100644 index 0000000000000000000000000000000000000000..1be6cd5c20d9151a7991ddea2f42912527636c06 --- /dev/null +++ b/news/GOOG/2023.02.07/Marketmind- Market to ChatGPT: what's Powell gotta say?.txt @@ -0,0 +1 @@ +Investors are just about coming to terms with the eye-popping payrolls number from Friday, but with Fed Chair Jerome Powell due to speak later in the day, the market will ponder which Powell will turn up (the hawk or the dove). Perhaps ChatGPT has the answer. Google owner Alphabet unveiled a rival to super popular ChatGPT, saying it will launch a chatbot service named 'Bard'. And so the battle for generative AI, technology that can create prose or other content on command and free up white-collar workers' time, heats up, with Microsoft planning its own AI reveal for Tuesday.The meteoric rise of ChatGPT, a chatbot from Microsoft-backed OpenAI, has also helped attract retail investors in other smaller firms as artificial intelligence becomes the latest buzzword on Wall Street. (More than 20 years after AI the movie was released) The main event in Asia was Australia's central bank raising its cash rate by 25 basis points to a decade-high of 3.35% and reiterating that further increases would be needed to fight inflation. The Aussie dollar spiked higher, while short term bonds tumbled.Asian shares held their ground while the rally in the U.S. dollar took a breather on Tuesday.Meanwhile, a deadly earthquake killed more than 3,700 people across a swathe of Turkey and northwest Syria, sending Turkey's lira to a record low. Before Powell takes centre stage and hogs the limelight, Bank of England's Huw Pill is also due to speak and his comments on monetary policy will likely move markets.Key developments that could influence markets on Tuesday: Economic events: U.K. Halifax house prices for January, Swiss unemployment data Speakers: Bank of England's Huw Pill, ECB's Peter Kazimir and Klaas Knot and Fed Chair Powell Earnings: BNP Paribas SA Q4 results (Reporting by Ankur Banerjee; Editing by Jacqueline Wong) \ No newline at end of file diff --git a/news/GOOG/2023.02.07/Microsoft adds AI to search engine, challenges Google.txt b/news/GOOG/2023.02.07/Microsoft adds AI to search engine, challenges Google.txt new file mode 100644 index 0000000000000000000000000000000000000000..82008c8e17fdeca842ebef3ca08b87e748a6023d --- /dev/null +++ b/news/GOOG/2023.02.07/Microsoft adds AI to search engine, challenges Google.txt @@ -0,0 +1 @@ +Microsoft announced it will be using technology from its partnership with the startup OpenAI, to bring ChatGPT-like technology into the Microsoft search engine... aiming to soar past its main rival, Google.Reuters Technology Correspondent, Jeffrey Dastin, was in Redmond, Washington for the announcement."The company announced essentially its biggest challenge to Google yet by planning to launch and roll out a search engine and web browser completely infused with AI. So the idea is that Microsoft's Bing Search Engine and Edge web browser will have chatbot style functionality, kind of like the chatbot sensation ChatGPT."OpenAI made a preview of ChatGPT available for public use late last year. Its human-like responses to any prompt have given people new ways to think about the possibilities of marketing, writing term papers or disseminating news. DASTIN: "The technology known as ChatGPT that many of us have played around with, experienced, is itself based on a system that's actually a few years old. And the maker of that technology, OpenAI, has been continually working to improve it, not just in the version that we see online today, but in things that aren't released yet. And also, for instance, in this upcoming Bing search engine. So it essentially - there will be a more advanced version of that powerful AI in Microsoft's new search engine. Though one important thing to note is that it still has a lot to learn. It still is dependent on feedback so that it can provide factual and the best answers to consumers." Bing's chatbot will help users refine questions more easily, give more relevant up-to-date results, and even make shopping easier."For instance, if you want to know if a car seat will fit in the back of your particular vehicle, it will knowing the information you provide it, give you an answer so that you don't have to try to make sense of different web pages on your own." Bing is far behind Google in search market share. But AI could alter the landscape. "AI is essentially the frontier right now in search engine technology. So Google for years has been the number one provider. (flash)"Bing - with the search engine from Microsoft - is trying to change that. And the idea is that if AI can help you answer things that don't already exist on the Web and can create all sorts of new experiences and functionality like email-composing and translation and even grocery list and shopping help, then Microsoft is hoping that it can gain, share and compete with Google." Google on Monday unveiled a chatbot of its own called Bard.. and it's planning to release AI for its search engine. But which AI-powered search engine consumers will prefer in the long run remains to be seen. \ No newline at end of file diff --git a/news/GOOG/2023.02.07/Microsoft to infuse software with more AI as Google rivalry heats up.txt b/news/GOOG/2023.02.07/Microsoft to infuse software with more AI as Google rivalry heats up.txt new file mode 100644 index 0000000000000000000000000000000000000000..28bd2cfa7c5b6dc94b5207726388534b75311cae --- /dev/null +++ b/news/GOOG/2023.02.07/Microsoft to infuse software with more AI as Google rivalry heats up.txt @@ -0,0 +1 @@ +Microsoft is staking its future on AI through billions of dollars of investment. Working with the startup OpenAI, the company is aiming to rival Alphabet Inc's Google and potentially claim vast returns from tools that speed up all manner of content creation, automating tasks if not jobs themselves."This technology is going to reshape pretty much every software category," said Microsoft Chief Executive Satya Nadella, in a briefing for reporters at Microsoft headquarters in Redmond, Washington.Shares of Microsoft rose 3.6% in afternoon U.S. trading to $266.02 a share. The power of so-called generative AI that can create virtually any text or image dawned on the public last year with the release of ChatGPT, the chatbot sensation from OpenAI. Its human-like responses to any prompt have given people new ways to think about the possibilities of marketing, writing term papers or disseminating news, or even how to query information online.Microsoft is now aiming to market OpenAI's technology, including ChatGPT, to its cloud customers and add the same power to its suite of products, including search.Google has taken note. On Monday it unveiled a chatbot of its own called Bard, while it is planning to release AI for its search engine that can synthesize material when no simple answer exists online.The rivalry in search is now among the industry's biggest, as OpenAI sets up Microsoft to expand its 9% share at Google's expense, said Daniel Ives, an analyst with Wedbush Securities."Microsoft is looking to win this AI battle," he said in a research note on Monday.For the quarter ending Dec. 31, Alphabet reported $42.6 billion in Google Search and other revenue, while Microsoft posted $3.2 billion from search and news advertising.Behind Microsoft's OpenAI partnership is its plan to invest in supercomputer development and cloud support so the startup can release more sophisticated technology and aim at the level of machine intelligence dreamed up in science fiction.The fruit of this work, however, is more immediate. Last week Microsoft announced the startup's AI will generate meeting notes in Teams, its collaboration software, as well as suggest email replies to vendors using its Viva Sales subscription. (Reporting by Jeffrey Dastin; Editing by Matthew Lewis)By Jeffrey Dastin \ No newline at end of file diff --git a/news/GOOG/2023.02.07/Retail investors flock to small-cap AI firms as Big Tech battles for share.txt b/news/GOOG/2023.02.07/Retail investors flock to small-cap AI firms as Big Tech battles for share.txt new file mode 100644 index 0000000000000000000000000000000000000000..21bf128f44d369915c540c00c273045e8f4699d6 --- /dev/null +++ b/news/GOOG/2023.02.07/Retail investors flock to small-cap AI firms as Big Tech battles for share.txt @@ -0,0 +1 @@ +The viral success of ChatGPT has turned the spotlight on AI on Wall Street, reminiscent of the blockchain hype from a few years ago when shares of companies remotely associated with the technology surged. The $3-billion AI software firm C3.ai was the fifth most actively traded on Fidelity's platform for small investors on Monday, while drawing record daily retail inflows worth $31.4 million, as per Vanda Research."Small-cap firms have AI as a much larger part of their business than the larger ones," said Matthew Tuttle, chief executive officer of Tuttle Capital Management on the reason behind retail investors' focus on the smaller firms.Tuttle said he had shorted C3.ai shares about a week ago, but was looking to switch to the long side because "that's where the action is."SoundHound AI, which offers a voice AI platform services, and Thailand's security firm Guardforce AI have more than doubled so far this year, while analytics firm BigBear.ai gained nine-fold in value."We are in a new and exciting AI arms race right now, and speculative investors are clearly trying to find the potential winners in the increasing growing caldron of AI adjacent companies," said Arthur Hogan, chief market strategist at B.Riley Wealth.Shares of Microsoft, which backs ChatGPT parent OpenAI, gained 1.5% in premarket trading ahead of the AI launch later in the day.Google-owner Alphabet Inc on Monday said it would launch a chatbot service Bard and more artificial intelligence for its search engine as well as developers.Microsoft is in a strong position in the AI race due to the combination of its close partnership with OpenAI and its Azure capabilities around compute and data, said Barclays analyst Raimo Lenschow.U.S.-listed shares of Baidu Inc climbed nearly 15% on Tuesday after the Chinese search engine said it would complete internal testing of a ChatGPT-style project called "Ernie Bot" in March. Earlier in the day, a clutch of Chinese AI stocks had also rallied. "There will clearly be winners and losers in the markets current new thing AI, but it will also take some time to ascertain how all these artificial intelligence focused companies plan on monetizing this exciting new technology," Hogan said. (Reporting by Medha Singh in Bengaluru; Editing by Sriraj Kalluvila)By Medha Singh \ No newline at end of file diff --git a/news/GOOG/2023.02.07/World Press Review: February 7.txt b/news/GOOG/2023.02.07/World Press Review: February 7.txt new file mode 100644 index 0000000000000000000000000000000000000000..cc3659b4459e26509c45f8c51dd8cd8636e339a6 --- /dev/null +++ b/news/GOOG/2023.02.07/World Press Review: February 7.txt @@ -0,0 +1,4 @@ + +BP, BNP Paribas, Eurazeo, Santander, Rolls-Royce, Intesa Sanpaolo, Inditex, Siemens Energy, AstraZeneca, Google (Alphabet), Baidu, Bed Bath & Beyond, CVS Health, AMC Entertainment, SoftBank, Nintendo, Mitsubishi Heavy and Siemens gamesa + + diff --git a/news/GOOG/2023.02.07/Zoom to shed about 1,300 jobs as pandemic-fueled demand slows.txt b/news/GOOG/2023.02.07/Zoom to shed about 1,300 jobs as pandemic-fueled demand slows.txt new file mode 100644 index 0000000000000000000000000000000000000000..b690fce2c253f8152ed850d7dc27c4124733e4b9 --- /dev/null +++ b/news/GOOG/2023.02.07/Zoom to shed about 1,300 jobs as pandemic-fueled demand slows.txt @@ -0,0 +1,35 @@ +Feb 7 (Reuters) - Zoom Video Communications Inc +said on Tuesday it would cut about 1,300 jobs, as demand for the +company's video conferencing services slows with the waning of +the pandemic, and take a related charge of up to $68 million.The company's shares, which fell 63% last year amid a rout +in technology shares, closed up 9.9% on the news but were down +marginally in extended trading.While announcing the layoffs, which will hit nearly 15% of +its workforce, Chief Executive Officer Eric Yuan said he would +take a pay cut of 98% for the coming fiscal year and forego his +bonus."We worked tirelessly... but we also made mistakes. We +didn't take as much time as we should have to thoroughly analyze +our teams or assess if we were growing sustainably, toward the +highest priorities," Yuan said.Zoom will incur about $50 million to $68 million in charges +related to the layoffs, according to a regulatory filing on +Tuesday. The company said a substantial part of it will be spent +in the first quarter of fiscal 2024.The company, which became a household name during +lockdowns due to the popularity of its video-conferencing tools, +has seen its revenue growth slow.Analysts are forecasting Zoom's revenue to have risen just +6.7% in fiscal 2022 after a more than four-fold jump in revenue +and a nine-fold surge in profit increase in 2021. Profit is +estimated to have fallen 38% in 2022."I would say incrementally, maybe this is telling us we +shouldn't expect reacceleration in the near-term on the revenue +side, but we could see additional upside to margins for a +company that is already profitable," RBC Capital Markets analyst +Rishi Jaluria said.Zoom had bumped up hiring during the pandemic to meet +surging demand, but now joins U.S. companies in reining in costs +to brace for a potential recession.A raft of U.S. companies from Goldman Sachs Group Inc +to Alphabet Inc have laid off thousands this +year to ride out a demand downturn wrought by high inflation and +rising interest rates.The video conferencing software maker also said that its +executive leadership team will reduce their base salary by 20% +in the same period.Departing employees will receive 16 weeks of salary, +healthcare coverage and a bonus for the year, Yuan said. +(Reporting by Akash Sriram and Samrhitha Arunasalam in +Bengaluru; Additional reporting by Chavi Mehta; Editing by +Shailesh Kuber and Anil D'Silva) \ No newline at end of file diff --git a/news/GOOG/2023.02.08/Asian shares track Wall Street lower amid chorus of Fed speakers.txt b/news/GOOG/2023.02.08/Asian shares track Wall Street lower amid chorus of Fed speakers.txt new file mode 100644 index 0000000000000000000000000000000000000000..305782c3395353432e0ee8706ac16e75952ee9ed --- /dev/null +++ b/news/GOOG/2023.02.08/Asian shares track Wall Street lower amid chorus of Fed speakers.txt @@ -0,0 +1 @@ +MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.3%. Japan's Nikkei also fell 0.3%. China's blue chips eased 0.1%, while Hong Kong's Hang Seng Index was down 0.2%, weighed by a larger fall of 0.7% in tech stocks. On Wednesday, Alphabet Inc shares fell 7.7% after its new AI chatbot Bard delivered an incorrect answer in a promotional video, dragging the S&P 500 and Nasdaq lower by more than 1%. Adding to the cautious mood, Federal Reserve officials said more interest rate rises are on the cards as the U.S. central bank moves ahead with efforts to control inflation. None hinted though that January's strong jobs report could drive more aggressive policy actions."Now that inflation has passed its peak and many central banks have begun to slow the pace of policy tightening, markets are back to scouring their communications for evidence of what's to come," said Jennifer McKeown, chief global economist at Capital Economics."But despite the strong push for transparency over the past two decades, central banks are struggling to convey the right message with conflicting data adding to confusion about the inflation outlook in a post-pandemic world."On Wednesday, New York Fed President John Williams said moving to a federal funds rate of between 5.00% and 5.25% "seems a very reasonable view of what we'll need to do this year in order to get the supply and demand imbalances down."Governor Christopher Waller said the battle to reach the Fed's 2% inflation target "might be a long fight". But Governor Lisa Cook said the big job gains in January with moderating wage growth increased hopes of a "soft landing".U.S. Treasury Secretary Janet Yellen said that while inflation remained elevated, there were encouraging signs that supply-demand mismatches were easing in many sectors of the economy.The bond market rallied a little after being caught wrongfooted by the January blockbuster U.S. jobs report, forcing many to reposition for a higher peak in the Fed funds rate.The two-year Treasury yield, which rises with traders' expectations of higher Fed fund rates, eased 2 basis points to 4.4375% on Thursday, while the yield on benchmark 10-year Treasury notes slid 5 basis points to 3.6012%. Futures are pricing in the Fed's target rate to peak at 5.132% in July, about 25 basis points higher than last week, and that by December it will have declined to 4.813%, a jump of about 40 basis points since a week ago.In the currency markets, movements were rather muted. The dollar index held close to a 1-month high at 103.45 against major peers, after last week's stunning jobs and services data. In the oil market, Brent crude futures eased 0.2% to $84.90 while U.S. West Texas Intermediate (WTI) crude also settled 0.1% lower at $78.36.Gold was slightly lower. Spot gold traded at $1,872.48 per ounce. (Reporting by Stella Qiu; Editing by Jacqueline Wong)By Stella Qiu \ No newline at end of file diff --git a/news/GOOG/2023.02.08/BNPL lender Affirm to cut about 19% of its workforce.txt b/news/GOOG/2023.02.08/BNPL lender Affirm to cut about 19% of its workforce.txt new file mode 100644 index 0000000000000000000000000000000000000000..ba93a6b66ca5e64147b7894ae3bc69cd3eb0325a --- /dev/null +++ b/news/GOOG/2023.02.08/BNPL lender Affirm to cut about 19% of its workforce.txt @@ -0,0 +1 @@ +"Growing rapidly over the last few years, and especially through the pandemic, we hired ahead of the revenue required to support the size of the team," Affirm's Chief Executive Max Levchin wrote in a letter to shareholders.BNPL services, which allow consumers to split purchase payments into installments, exploded in popularity as Americans turned to online shopping during the pandemic.The sector has lately been under pressure due to rising funding costs and lower consumer spending during soaring inflation.Affirm's move follows those by several U.S. companies, including Goldman Sachs Group Inc and Alphabet Inc, which are laying off thousands of employees this year amid higher costs and a looming recession.The company, which was founded in 2012, also said that it would sunset several initiatives such as Affirm Crypto. San Francisco, California-based Affirm expects to incur about $35 million to $39 million in total restructuring costs. (Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/GOOG/2023.02.08/Can I use ChatGPT and other AI bots without consequence?.txt b/news/GOOG/2023.02.08/Can I use ChatGPT and other AI bots without consequence?.txt new file mode 100644 index 0000000000000000000000000000000000000000..3c354e2c5200e3e895ed85fb5e7c95b6cfcb0499 --- /dev/null +++ b/news/GOOG/2023.02.08/Can I use ChatGPT and other AI bots without consequence?.txt @@ -0,0 +1,19 @@ +"Artificial intelligence is one of the most profound things we're working on as humanity. It is more profound than fire or electricity."- Sundar Pichai, CEO Alphabet Inc. and Google"We're at the beginning of a golden age of AI."- Jeff Bezos, Founder and Executive Chairman of Amazon"Artificial intelligence is the new electricity."- Andrew Ng, Co-founder of Google BrainArtificial Intelligence (AI) is a rapidly evolving facet of modern technology that has already had a significant impact on the way that we live our lives. Its use is already present in a number of industries, such as retail, healthcare, finance and even law. AI models have been created for a whole host of applications: systems that can generate images; those that write complex software code; and even write songs and melodies based on input provided by users. The applications for AI systems seem endless, and there is no end to this innovation in sight. Despite this, no other AI bot in recent memory has garnered quite as much attention and widespread use as ChatGPT, having reportedly amassed more than one million registered users within one month of release.1ChatGPT is a large language AI model that was reportedly trained on a large amount of data, and as a result is able to generate human-like responses to prompts by users. It can write you a poem, or an article on string theory, and do so in a way that makes it nearly indistinguishable from human works. When asked to introduce itself, ChatGPT's response was:"I am ChatGPT, a language model developed by OpenAI. I am trained to understand and generate human language in order to assist with a wide range of tasks, such as answering questions, generating text, and more. I am here to help with any questions or information you may need".While this new technology and its potential applications are incredibly exciting, it also presents a number of novel issues, both ethically and legally that will need to be considered in the coming years with further development and use. Questions such as:Amongst these issues, and perhaps the question that you might be asking is, can I use ChatGPT, and if so, what consequences might I face?The answer to this question is, as with most things, it depends. There are a number of factors you should consider before using AI to create content or use that content. +If you are looking to use ChatGPT to write an article for you, it is important to consider whether you will actually be the author of that work, and by extension whether you actually own it or have the rights to use it.The question of ownership of AI generated works has not been extensively considered in Australia. The current position is that AI, as something that is not a natural person or a citizen of Australia, is unable to own copyright.2 Further than this, the law in Australia may not yet be sufficiently developed to deal with the issue of ownership and copyright over AI generated content beyond the confines of current copyright law.Could an argument be made that the person who directs the AI with the input is the owner? Possibly. There are certainly some examples of this occurring in everyday life. Phone cameras, for example, utilise some AI technology when taking photos to assist the user. Despite this, it is the person who has taken the photo that would own the copyright. The important distinction between this, and having ChatGPT write you an entire adventure novel, is that the phone AI is simply assisting in the creation of the content, being the photo. ChatGPT and other AI language models like it, essentially do the work for you, with very little input required from the human. As such, it may be difficult to argue that they are the same.While there have been some significant cases in recent years considering this specific topic, Australia has yet to catch up. Despite this, the ownership of AI generated content will no doubt be a hot topic in legislature and the courts in the years to come.For now though, it is important to consider if the AI is being used under any specific service agreements, or terms and conditions, and if so what those say regarding the ownership of the content. If you are at all unsure, you should seek legal advice prior to attempting to claim ownership or use any AI generated content for commercial purposes. +Possibly. If you choose to submit an article written by ChatGPT to your university or school claiming that it is your own work, you are more than likely engaging in academic misconduct, among other things. This is an issue that educational institutions are facing all over the world right now, with some turning to more in class or in person assessment pieces to combat the use of AI to complete homework. A number of schools have reportedly banned the use of ChatGPT on their servers and computers, with some even threatening immediate expulsion should students be caught using the AI.3There are a number of programs that have been released already that claim to be able to detect the use of AI in drafting a piece of text, however their effectiveness and application in this context remains untested.4 +Once again, possibly. One of the major issues that has arisen since the release and widespread use of ChatGPT is the ownership of copyright over the content that the bot was trained on. If the AI was trained using content protected by copyright or content subject to licensing terms such as creative commons, and has subsequently reproduced or adapted this content for the user to distribute or use however they wish, is the user then infringing copyright without authority of the true owner? The answer may well be yes however the usual rules around copyright infringement would apply as no special rules apply for ChatGPT. However, how to do you know if you are infringing if you don't know what content has been used to train the AI bot in the first place?There has already been movement in US Courts regarding this issue, with actions being brought against the developers/owners of AI systems for copyright infringement, or similar actions involving copyrighted work. One example comes from the recent action by GitHub, an open-source code repository, against OpenAI and Microsoft regarding the AI program Copilot, which assists users by providing code.5 It is claimed that some of the source-code used by Copilot came from GitHub, and is protected by copyright. No doubt, this is just the tip of the iceberg in terms of the legal action to come on this particular issue. +What makes ChatGPT so impressive, is its unprecedented ability to write in a way that is barely indistinguishable from human writing. To achieve this, the AI was allegedly trained on billions and billions of words pulled from the internet (and possibly elsewhere) and curated by OpenAI employees and contractors. The problem that this method posed, was how to weed out any potentially harmful, explicit or inappropriate content, or content that is simply incorrect. Allegations are now being put forth that OpenAI outsourced much of the work in finding and labelling inappropriate or unwanted content to a firm in Kenya, where their employees were to troll through thousands and thousands of excerpts of this 'bad' text.6 It is reported that some employees were tasked with viewing horrific material, including descriptions of murder, self-harm, torture, and child sexual abuse, and were only paid between $1 and $2 per hour to do so. Claims have been made that these workers were not afforded adequate counselling or psychological support either.These allegations draw attention to the fact that the advancement of technologies such as this may have been achieved via the use (and possibly misuse) of an enormous amount of human labour. This is a serious issue, that if such allegations prove truthful needs to be addressed by the developers, distributers and even users of these systems. +ChatGPT does not currently provide citations for the information that it delivers to you, so how do you know if the information is accurate? The answer is, you don't. We have not, as of yet, been given access to the databank used to train ChatGPT or the proximal policy optimisation model used to fine tune the AI trainer's rankings, so it is impossible to verify how correct it's output really is. Additionally, the AI's knowledge base is current no later than 2021 (although that is likely to change shortly), so if you were to ask it a question that involves an event since then, it may not hold any answer, let alone the correct one. As such, there is no guarantee whatsoever that the output you are getting from ChatGPT, as acknowledged by OpenAI, is truthful or accurate.It is important to note that ChatGPT is a powerful language prediction device, not an AI knowledge bank. It uses language patterns to predict and put together words and sentences, but it does not actually hold knowledge per say. So, while the language and text it is trained on might contain the correct knowledge, it might equally be incorrect.7 It is also prone to producing answers that may sound accurate, even if they are not. +We asked ChatGPT what it thought users should be mindful of when using it or other AI's like it to create content, and it provided the below response:"When using ChatGPT or other large language AI models to create content, you should consider the following ethical considerations:By being aware of these considerations and taking steps to address them, you can use AI models like ChatGPT ethically and responsibly".It may be informative for the readers of this article to pose similar questions to ChatGPT by going to ChatGPT: Optimizing Language Models for Dialogue (openai.com) and registering for an account. +With the widespread release of ChatGPT we are entering into uncharted territory. The issues brought about by AI generated content have not yet been widely considered, and as such the relevant legal rules and principals that will eventually govern them do not yet fully exist. Countries all over the world are currently in the process of considering and even creating specific legislation on these issues. Practically speaking, how does this apply to you? If you intend to use AI, or creations realised through or by AI, then it is important that you first evaluate the current laws and regulations surrounding copyright ownership and AI in the relevant jurisdiction to ensure that you can effectively protect any Intellectual Property you may hold in this content.Footnotes1 As reported by DMR at https://expandedramblings.com/index.php/chatgpt/.2 s 32 Copyright Act 1968 (Cth).3 Here are the schools and colleges that have banned the use of ChatGPT over plagiarism and misinformation fears (msn.com).4 Cheaters beware: ChatGPT releases AI detection tool to catch cheaters in schools and universities (firstpost.com).5 Doe v. GitHub, 22 Civ. 6823 (N.D. Cal. Nov. 10, 2022).6 OpenAI Used Kenyan Workers on Less Than $2 Per Hour: Exclusive | Time7 OpenAI states on the ChatGPT: Optimizing Language Models for Dialogue (openai.com) website that "ChatGPT sometimes writes plausible-sounding but incorrect or nonsensical answers" and "WEhile we've made efforts to make the model refuse inappropriate requests, it will sometimes respond to harmful instructions or exhibit biased behavior".The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Michael Finney +Bennett & Philp Lawyers +Level 13, 15 Adelaide St +Brisbane +4000 +AUSTRALIA +Tel: 73001 2999 +Fax: 73001 2989 +E-mail: MEvans@bennettphilp.com.au +URL: www.bennettphilp.com.au +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/GOOG/2023.02.08/Google AI chatbot BARD offers inaccurate information in company ad.txt b/news/GOOG/2023.02.08/Google AI chatbot BARD offers inaccurate information in company ad.txt new file mode 100644 index 0000000000000000000000000000000000000000..620274ed2d54bdb0e1ab32046ece72d74b623f30 --- /dev/null +++ b/news/GOOG/2023.02.08/Google AI chatbot BARD offers inaccurate information in company ad.txt @@ -0,0 +1 @@ +The tech giant posted a short GIF video of BARD in action via Twitter, describing the chatbot as a "launchpad for curiosity" that would help simplify complex topics. In the advertisement, BARD is given the prompt: "What new discoveries from the James Webb Space Telescope (JWST) can I tell my 9-year old about?" BARD responds with a number of answers, including one suggesting the JWST was used to take the very first pictures of a planet outside the Earth's solar system, or exoplanets. This is inaccurate.The first pictures of exoplanets were taken by the European Southern Observatory's Very Large Telescope (VLT) in 2004, as confirmed by NASA.Google did not immediately respond to a request for comment. It announced the launch of Bard on Monday. At the time of writing, the ad had been viewed on Twitter more than 880,000 times. (Reporting by Martin Coulter; Editing by Emelia Sithole-Matarise)By Martin Coulter \ No newline at end of file diff --git a/news/GOOG/2023.02.08/Google AI chatbot Bard flubs an answer in ad.txt b/news/GOOG/2023.02.08/Google AI chatbot Bard flubs an answer in ad.txt new file mode 100644 index 0000000000000000000000000000000000000000..abf8341520916464b62b062660048a77f960f8e9 --- /dev/null +++ b/news/GOOG/2023.02.08/Google AI chatbot Bard flubs an answer in ad.txt @@ -0,0 +1 @@ +Introduced this week, Bard was touted in an online ad by Google that ran in the company's Twitter feed.In the tweet, Google described the chatbot as a "launchpad for curiosity" that would help simplify complex topics - and included a short GIF video ad of Bard in action.In the ad, Bard is given the prompt: "What new discoveries from the James Webb Space Telescope (or JWST), can I tell my 9-year old about?"Bard responds with a number of answers, including one suggesting the JWST was used to take the very first pictures of a planet outside the Earth's solar system, or exoplanets.This is inaccurate.The first pictures of exoplanets were taken by the European Southern Observatory's Very Large Telescope in 2004, as confirmed by NASA. The error was spotted hours before Google hosted a launch event for Bard in Paris, where a Google senior executive touted Bard as the future of the company.Google's launch event came one day after Microsoft unveiled plans to integrate its rival AI chatbot ChatGPT into its Bing search engine and other products.As for Bard's mistake, a Google spokesperson told Reuters (quote): "This highlights the importance of a rigorous testing process, something that we're kicking off this week..." so that (quote) "Bard's responses meet a high bar for quality, safety and groundedness in real-world information."Shares of Google parent Alphabet were down more than 7% in early trading Wednesday, outpacing declines in the broader S&P 500. \ No newline at end of file diff --git a/news/GOOG/2023.02.08/Google says to soon add generative AI features in search results.txt b/news/GOOG/2023.02.08/Google says to soon add generative AI features in search results.txt new file mode 100644 index 0000000000000000000000000000000000000000..76b7072ab5072b7c3564f554a3682f55184d9f5c --- /dev/null +++ b/news/GOOG/2023.02.08/Google says to soon add generative AI features in search results.txt @@ -0,0 +1 @@ +The company on Monday unveiled its chatbot service called Bard and plans to add AI features to its search engine, as it seeks to answer Microsoft's challenge to its ads business through its wildly popular AI chatbot ChatGPT. (Reporting by Supantha Mukherjee in Stockholm and Martin Coulter in London; editing by Jason Neely) \ No newline at end of file diff --git a/news/GOOG/2023.02.08/Google to beef up search with AI, setting stage for showdown with Bing.txt b/news/GOOG/2023.02.08/Google to beef up search with AI, setting stage for showdown with Bing.txt new file mode 100644 index 0000000000000000000000000000000000000000..9909181c0e84e0c5bc20ffd2af0a24b02c8fb660 --- /dev/null +++ b/news/GOOG/2023.02.08/Google to beef up search with AI, setting stage for showdown with Bing.txt @@ -0,0 +1,30 @@ +(Repeats to remove erroneous text in bullet points)*Says AI to enable user interaction in "entirely new ways"*Highlights Maps, indoor views, image search and +translation*Second AI announcement this week*Rival Microsoft also using AI to enhance search*Alphabet shares down 7.8%STOCKHOLM/LONDON, Feb 8 (Reuters) - Alphabet's +Google on Wednesday said it will enhance search results with +generative AI features, in its latest salvo against Microsoft +which laid out plans a day earlier to improve its rival +search engine Bing.Microsoft is hoping new features can revive its Bing +platform and take a shot at Google's dominance of online search +which drives a lucrative ad business earning $100 billion in +sales last year.Adding generative AI to search results will create text or +visual responses to prompts and enable users to interact with +information in "entirely new ways", Google said."As we continue to bring generative AI technologies into our +products, the only limit to search will be your imagination," +Google's senior vice present Prabhakar Raghavan said at an event +in Paris.It was Google's second announcement this week. On Monday it +unveiled its chatbot service Bard, but the launch has faced +hiccups as Google's own online ad showed BARD delivering +inaccurate answers.Analysts said Google will be hoping it can prevent users +switching to rival Bing.San Francisco-based OpenAI, backed by Microsoft, opened up +its ChatGPT chatbot for free public testing in November. It +surged in popularity within days and Microsoft now plans to use +the technology to power its Bing search engine.Google's ad business is Alphabet's biggest earner, +accounting for about 80% of the company's annual revenue.Microsoft said it expects every percentage point of market +share it gains will bring in another $2 billion in search +advertising revenue.As the use of artificial intelligence picks up, the European +Union is gearing up to regulate it, through its AI Act.Apart from search, Google also showcased a bunch of +improvements to Maps, indoor views, image search and translation +-- all using artificial intelligence in some form."AI is also making it far more natural to make sense of and +explore the real world," Raghavan said. +(Reporting by Supantha Mukherjee in Stockholm and Martin +Coulter in London;Editing by Mark Potter and Elaine Hardcastle) \ No newline at end of file diff --git a/news/GOOG/2023.02.08/Google's AI 'hiccup' doesn't warrant selloff -portfolio manager.txt b/news/GOOG/2023.02.08/Google's AI 'hiccup' doesn't warrant selloff -portfolio manager.txt new file mode 100644 index 0000000000000000000000000000000000000000..e68724a74deb9eee06d85ca85ee394e6b97e996c --- /dev/null +++ b/news/GOOG/2023.02.08/Google's AI 'hiccup' doesn't warrant selloff -portfolio manager.txt @@ -0,0 +1 @@ +Google has been on its heels after OpenAI, a startup Microsoft is backing with around $10 billion, introduced software in November that has wowed consumers and become a fixation in Silicon Valley circles for its surprisingly accurate and well-written answers to simple prompts. \ No newline at end of file diff --git a/news/GOOG/2023.02.08/New York Times beats quarterly revenue estimates.txt b/news/GOOG/2023.02.08/New York Times beats quarterly revenue estimates.txt new file mode 100644 index 0000000000000000000000000000000000000000..f2b1a1fcc2c7f4dd620e4d4d74347be4e2546f58 --- /dev/null +++ b/news/GOOG/2023.02.08/New York Times beats quarterly revenue estimates.txt @@ -0,0 +1 @@ +The publisher reported revenue of $667.5 million in the fourth quarter, compared with analysts' estimates of $646.4 million, according to Refinitiv data. (Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/GOOG/2023.02.08/U.S. Treasury urges financial firms to examine cloud services.txt b/news/GOOG/2023.02.08/U.S. Treasury urges financial firms to examine cloud services.txt new file mode 100644 index 0000000000000000000000000000000000000000..1c8b92a192e600266e3b04e91417bd6c8c54cf46 --- /dev/null +++ b/news/GOOG/2023.02.08/U.S. Treasury urges financial firms to examine cloud services.txt @@ -0,0 +1,37 @@ +WASHINGTON, Feb 8 (Reuters) - U.S. Treasury Department +officials highlighted several challenges facing financial firms +that are increasingly turning to cloud computing services to +support a range of their activities, warning in a report on +Wednesday that failure to address them could leave lingering +vulnerabilities.The risk was particularly acute for small and medium-sized +financial institutions, the department said.Deputy Secretary of the Treasury Wally Adeyemo said while +"there is no question that providing consumers with secure and +reliable financial services means greater demand for cloud-based +technologies,” there needed to be "safe and effective migration" +as banks and other financial companies adopt cloud services."Treasury found that cloud services could help financial +institutions become more resilient and secure, but that there +were some significant challenges that could detract from these +benefits," department officials wrote in their report assessing +current cloud adoption in the financial industry.Those issues include financial firms' exposure to potential +cyber incidents, an industry-wide reliance on a small number of +cloud providers and a lack of technology workers able to help +financial institutions deploy cloud services, among other +challenges, department officials said.The report also noted that the patchwork global rules made +it "nearly impossible" for larger firms to consistently adopt +cloud systems globally.For example, financial firms and cloud service providers +in the European Union are facing stricter rules, and will need +to show how quickly they could recover from a cyber attack under +a law due to take effect at the end of 2024.Treasury officials recommended steps that could help the +sector adopt cloud computing, adding that it "neither endorses +nor discourages cloud service adoption by the sector."The banking industry was generally supportive of the report. +The Bank Policy Institute, which represents larger banks, said +in a statement it welcomed collaboration with government +officials on bolstering cloud adoption and addressing risks.The department was establishing a working group to address +the challenges raised in the report and said it would work with +U.S. financial regulators, the industry and international +partners to address the risks.Technology companies that provide cloud computing services +include Amazon Inc's Amazon Web Services, Alphabet +Inc's Google, Microsoft Corp and Oracle Corp +. +(Reporting by Susan Heavey and Pete Schroeder +Editing by Bernadette Baum and Marguerita Choy) \ No newline at end of file diff --git a/news/GOOG/2023.02.08/Wall St eases after recent strong gains, Alphabet shares fall.txt b/news/GOOG/2023.02.08/Wall St eases after recent strong gains, Alphabet shares fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..b09d67f4abfebcf45b0a74f64601168485f923fc --- /dev/null +++ b/news/GOOG/2023.02.08/Wall St eases after recent strong gains, Alphabet shares fall.txt @@ -0,0 +1,41 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Alphabet shares dive after Google AI chatbot Bard flubs +answer*Microsoft climbs on AI integration*CVS Health rises on offer to buy Oak Street*Indexes down: Dow 0.5%, S&P 500 1%, Nasdaq 1.5%NEW YORK, Feb 8 (Reuters) - U.S. stocks were down in +afternoon trading on Wednesday, paring some of the strong gains +in the previous session, with tech-focused shares leading the +way lower.Alphabet shares were down about 8% after its new +AI chatbot Bard delivered an incorrect answer in an online +advertisement.Among the day's Federal Reserve speakers, Fed Governor +Christopher Waller said inflation seems poised to continue +slowing this year but the U.S. central bank's battle to reach +its 2% target "might be a long fight" with monetary policy kept +tighter for longer than anticipated.Stocks rallied on Tuesday following Fed Chair Jerome +Powell's session before the Economic Club of Washington, where +he said interest rates might need to move higher than expected +if the U.S. economy remained strong, but said he felt a process +of "disinflation" is under way.Investors have been concerned about how aggressive the Fed's +actions may be this year following Friday's surprisingly strong +U.S. jobs report.They have also been concerned about mixed reports from U.S. +companies this earnings season. With results in from more than +half of the S&P 500 companies, earnings still are expected to +have declined year-over-year in the fourth quarter of 2022, +according to IBES data from Refinitiv."After this kind of run and a move to a valuation certainly +in the richer camp, you need to have more evidence to keep the +market climbing higher," said Quincy Krosby, chief global +strategist at LPL Financial in Charlotte, North Carolina.The Dow Jones Industrial Average fell 157.71 points, +or 0.46%, to 33,998.98, the S&P 500 lost 41.4 points, or +0.99%, to 4,122.6 and the Nasdaq Composite dropped +182.63 points, or 1.51%, to 11,931.16.Shares of entertainment company Walt Disney were +nearly flat ahead of its quarterly results due after the closing +bell. +Microsoft Corp shares were up 0.5% after it said it +was revamping its Bing search engine and Edge Web browser with +artificial intelligence.Investors also were digesting comments from President Joe +Biden late Tuesday at the State of the Union address, supporting +calls to tax corporate share buybacks.CVS Health Corp were up 4.6% after its $9.5 billion +cash buyout offer for Oak Street Health Inc. Oak Street +Health rose 4.9%.Declining issues outnumbered advancing ones on the NYSE by a +2.11-to-1 ratio; on Nasdaq, a 2.25-to-1 ratio favored decliners.The S&P 500 posted 11 new 52-week highs and two new lows; +the Nasdaq Composite recorded 69 new highs and 30 new lows. +(Additional reporting by Johann M Cherian, Shubham Batra and +Shreyashi Sanyal in Bengaluru; Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/GOOG/2023.02.08/Wall St ends lower after recent strong gains, Alphabet shares sink.txt b/news/GOOG/2023.02.08/Wall St ends lower after recent strong gains, Alphabet shares sink.txt new file mode 100644 index 0000000000000000000000000000000000000000..3963b799c57c20b604d40b41c79946bf14e793bd --- /dev/null +++ b/news/GOOG/2023.02.08/Wall St ends lower after recent strong gains, Alphabet shares sink.txt @@ -0,0 +1,39 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Alphabet shares dive after Google AI chatbot Bard flubs +answer*Investors digest comments from Fed officials*CVS Health rises on offer to buy Oak StreetNEW YORK, Feb 8 (Reuters) - U.S. stocks ended down on +Wednesday, paring most of the strong gains of the previous +session, with tech-focused shares leading the way lower.The biggest drag on the S&P 500 and Nasdaq was Alphabet +, whose shares dropped after its new AI chatbot Bard +delivered an incorrect answer in an online advertisement.Adding to the downbeat mood in stocks, Federal Reserve +officials on Wednesday said more interest rate rises are in the +cards as the U.S. central bank moves ahead with efforts to +control inflation.Fed Governor Christopher Waller said inflation seems +poised to continue slowing this year but the U.S. central bank's +battle to reach its 2% target "might be a long fight" with +monetary policy kept tighter for longer than anticipated.Stocks rallied on Tuesday following Fed Chair Jerome +Powell's session before the Economic Club of Washington, where +he said interest rates might need to move higher than expected +if the U.S. economy remained strong, but said he felt a process +of "disinflation" is under way."After this kind of run and a move to a valuation certainly +in the richer camp, you need to have more evidence to keep the +market climbing higher," said Quincy Krosby, chief global +strategist at LPL Financial in Charlotte, North Carolina.The Nasdaq remains up about 14% for the year to date.According to preliminary data, the S&P 500 +lost 45.50 points, or 1.11%, to end at 4,117.91 points, +while the Nasdaq Composite lost 201.60 points, or 1.66%, +to 11,912.19. The Dow Jones Industrial Average +fell 202.51 points, or 0.59%, to 33,954.18.Investors have been concerned about how aggressive the Fed's +actions may be this year following Friday's surprisingly strong +U.S. jobs report.They have also been concerned about mixed reports from U.S. +companies this earnings season. With results in from more than +half of the S&P 500 companies, earnings still are expected to +have declined year-over-year in the fourth quarter of 2022, +according to IBES data from Refinitiv.Shares of entertainment company Walt Disney were +little changed ahead of its quarterly results due after the +closing bell.Investors also were digesting comments from President Joe +Biden late Tuesday at the State of the Union address, supporting +calls to tax corporate share buybacks.CVS Health Corp were up after its $9.5 billion cash +buyout offer for Oak Street Health Inc. Oak Street +Health shares also rose. +(Reporting by Caroline Valetkevitch in New York; additional +reporting by Johann M Cherian, Shubham Batra and Shreyashi +Sanyal in Bengaluru; Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/GOOG/2023.02.08/Wall St falls as policymakers' comments fan rate hike worries; Alphabet slumps.txt b/news/GOOG/2023.02.08/Wall St falls as policymakers' comments fan rate hike worries; Alphabet slumps.txt new file mode 100644 index 0000000000000000000000000000000000000000..e9823ed95b4be2db745f638190553a2ef63c0871 --- /dev/null +++ b/news/GOOG/2023.02.08/Wall St falls as policymakers' comments fan rate hike worries; Alphabet slumps.txt @@ -0,0 +1,43 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Alphabet hauls S&P 500, Nasdaq lower*Microsoft climbs on AI integration*CVS Health rises on offer to buy Oak Street*Indexes down: Dow 0.51%, S&P 1.02%, Nasdaq 1.55%Feb 8 (Reuters) - Wall Street's main stock indexes +slipped on Wednesday as comments from Federal Reserve officials +intensified worries over the central bank's rate hike path, +while Alphabet slumped on a disappointing debut of its +much-awaited AI chatbot.New York Federal Reserve President John Williams backed +views of a peak rate of 5.00%-5.25%, higher than what markets +expect, a day after Fed Chair Jerome Powell acknowledged that +the battle against inflation will take quite a bit of time.Money market participants are now betting the Fed's +benchmark rate to rise above 5% in May before peaking to 5.16% +by July, levels that officials have backed vociferously.Fed Governor Lisa Cook said the U.S. central bank is not yet +done raising rates and even though inflation has shown signs of +moderation, the economy is still running too hot."If you get somebody like John Williams and another +prominent Fed governor speaking again this morning, at some +point the markets are going to listen," said John Lynch, chief +investment officer at Comerica Bank.The comments come after a strong jobs report on Friday +frustrated investors hoping for rate cuts later this year, and +could test a solid start for markets following last year's +battering."The market's view is that the Fed may cut rates, but only +by 25 basis points at the end of the year, and the Fed is still +signaling they won't make any cuts this year," said Art Hogan, +chief market strategist at B Riley Wealth in Boston.In a bright spot, Microsoft Corp edged up 0.5% +after the tech giant said it was revamping its Bing search +engine and Edge Web browser with artificial intelligence.Meanwhile, AI rival Alphabet Inc tumbled 7.9% +after its AI chatbot Bard delivered an incorrect answer in an +online advertisement.At 12:39 p.m. ET, the Dow Jones Industrial Average +was down 173.23 points, or 0.51%, at 33,983.46, the S&P 500 +was down 42.42 points, or 1.02%, at 4,121.58, and the +Nasdaq Composite was down 187.22 points, or 1.55%, at +11,926.56.All of the 11 major S&P 500 sectors declined, with +communication services plunging 4.3%.President Joe Biden's comments at the State of the Union +address on Tuesday evening that supported calls to tax corporate +share buybacks also weighed on sentiment.Of all the S&P 500 companies that have reported quarterly +earnings, 69% of them have beaten expectations, according to +Refinitiv. Still, analysts expect quarterly earnings to decline +2.9%.CVS Health Corp surged 4.7% on its $9.5 billion cash +buyout offer for Oak Street Health Inc. Oak Street +Health rose 4.5%.Declining issues outnumbered advancers for a 2.41-to-1 ratio +on the NYSE and for a 2.42-to-1 ratio on the Nasdaq.The S&P index recorded nine new 52-week highs and two new +lows, while the Nasdaq recorded 63 new highs and 27 new lows. +(Reporting by Johann M Cherian, Shubham Batra and Shreyashi +Sanyal in Bengaluru; Editing by Shounak Dasgupta and Sriraj +Kalluvila) \ No newline at end of file diff --git a/news/GOOG/2023.02.08/Wall St. ends lower, Alphabet weighs after AI flub.txt b/news/GOOG/2023.02.08/Wall St. ends lower, Alphabet weighs after AI flub.txt new file mode 100644 index 0000000000000000000000000000000000000000..ffb57b67d85992bfa2f7d4a2638441eee5f2da2d --- /dev/null +++ b/news/GOOG/2023.02.08/Wall St. ends lower, Alphabet weighs after AI flub.txt @@ -0,0 +1 @@ +The Dow dropped six-tenths of a percent, the S&P shed 1.1% and the Nasdaq lost 1.7%.The biggest drag on the S&P 500 and the Nasdaq was Google parent Alphabet, whose shares dropped nearly 8% after its new AI chatbot Bard delivered an incorrect answer in an online ad - and as a result, wiped away more $100 billion in Alphabet's market cap.While Google appeared eager to introduce its answer to the Microsoft-backed, explosively popular ChatGPT, Tyler Ellegard, portfolio manager at Gradient Investments, says investors overreacted to Bard's flub."Obviously, it wasn't ready. The rush was unwarranted. But I think the hiccup, you know, the stock being down - sure that would be warranted, but being down 8-9%, I don't think that's justified at this point [FLASH] and we would actually be buyers here, given this pullback that we've seen today."Adding to the cautious mood on Wall Street, Federal Reserve officials on Wednesday said more interest rate hikes are in the cards as the U.S. central bank moves ahead with efforts to control inflation.Noteworthy movers included shares of CVS Health, which ended the session up 3.5% after its making $9.5 billion cash buyout offer for Oak Street Health, which rose 4.6%.In after-hours trading, shares of Walt Disney were up almost 9% following the release of its quarterly results - in which the entertainment company said it will lay off 7,000 employees as part of a sweeping restructuring effort. \ No newline at end of file diff --git a/news/GOOG/2023.02.08/What we know and don't know about the Chinese balloon.txt b/news/GOOG/2023.02.08/What we know and don't know about the Chinese balloon.txt new file mode 100644 index 0000000000000000000000000000000000000000..a95c3f2d8dd5832ba2b955a59374338213874772 --- /dev/null +++ b/news/GOOG/2023.02.08/What we know and don't know about the Chinese balloon.txt @@ -0,0 +1 @@ +More is likely to be learned about the balloon after the U.S. military recovers its remnants from the ocean off the coast of South Carolina. Here's what we know, and don't know, about the balloon that has triggered a dramatic diplomatic dispute between the two powers:HOW BIG IS IT?The head of North American Aerospace Defence Command, General Glen VanHerck, described the balloon as being 200 feet (61 metres) high, with a surveillance payload the size of a regional passenger jet that likely weighed in excess of a couple thousand pounds. Civilians viewing the balloon from the ground described it as a giant white orb as it floated about 60,000 feet (18,300 meters) above the central United States, an altitude roughly twice that of civilian air traffic.U.S. officials said they had been tracking the high-altitude for some time and that it drifted over the United States for at least seven days. WHAT HAS CHINA SAID?China's foreign ministry said the balloon was mainly used for meteorological purposes and had limited self-steering ability. It said it was affected by the weather and unexpectedly drifted into U.S. airspace. The ministry has also said it has no information to share about what company or entity owns the balloon.WAS IT A WEATHER BALLOON?Kaymont, a U.S. firm that makes and distributes weather balloons globally, said the size, payload and flight time exceeded the capabilities of typical weather balloons that are made of latex. "A typical weather forecasting balloon will have a lightweight radiosonde payload that is about 200 grams in weight. The balloon at release will be about 1.4 metres and will burst around 6 metres in diameter, and the flight time will be between 90-120 minutes," Jesse Geffen, a Kaymont account manager, told Reuters. "Photographic payloads (high altitude photography and videography) may be carried by larger balloons, but wouldn't even be a third of the size of the balloon that flew over the country." In China, the manufacture of weather balloons is dominated by a subsidiary of state chemical giant ChemChina, Zhuzhou R&D Institute for Rubber & Plastics (Zhuzhou Rubber), which makes 75% of high-altitude balloons used by the China Meteorological Administration, the country's regulator of state-owned firms said in a statement last year. Smaller players include Guangzhou Double-One Weather Equipment Company, whose company's chairman Lin Xiuping told Reuters that her firm and Zhuzhou Rubber were capable of making balloons that could fly at the height the Chinese balloon was flying at over the United States. She said, however, that Guangzhou Double-One was not the manufacturer of that balloon. An employee that answered the phone at Zhuzhou Rubber's headquarters said the U.S. balloon had nothing to do with the company and declined to accept further questions. SO WHAT KIND OF BALLOON IS IT?Kaymont said the balloon was likely made of plastic film, not latex. Some descriptions thus far of the balloon debris being retrieved from the Atlantic Ocean say that there has been plastic. By looks and by size, it resembles balloons made by U.S. firm Aerostar, whose own balloon was mistaken for the Chinese one while flying over Memphis. Aerostar is an aerospace and defence contractor that supplies stratospheric balloons to the likes of National Aeronautics and Space Administration (NASA) made out of polyethylene film that can fly for over 200 days and carry hundreds of pounds. It also previously had a deal with Google to use such balloons to provide internet to rural areas. Other companies that develop stratospheric balloon systems include U.S. space tourism firm World View and French firm CNIM Air Space. China does not appear to have a private company equivalent, but the official Chinese Academy of Sciences' Aerospace Information Research Institute (AIR) and Institute of Optoelectronics have both conducted significant research on stratospheric balloons and published accounts of launches. In 2017, for example, the Institute of Optoelectronics announced it had successfully flown a "super pressure" balloon it had developed in Inner Mongolia, describing it as having a volume of 7,000 cubic meters and able to carry 150 kilograms.Last September, China's AIR announced the successful trial of a balloon that can reach heights of 30 km and carry up to 1.2 tonnes as part of a project for developing near-space technologies. AIR is particularly keen on stratospheric balloon technology and has posted several articles on its WeChat account about Aerostar. Reuters was not able to immediately establish what firms supply AIR or the Institute of Optoelectronics with their balloons. Both institutes did not respond to requests for comment.Chinese military researchers have recently argued in publicly-available papers that balloons and airships should be further developed and deployed across a range of missions, Reuters reported on Monday.While analysts did not yet know the size of the Chinese balloon fleet, U.S. officials have spoken of dozens of missions since 2018 across five continents, with some targeting Japan, India, Vietnam, Taiwan and the Philippines. (Reporting by Brenda Goh, Albee Zhang and Eduardo Baptista; Additional reporting by Shanghai Newsroom; Editing by Kim Coghill) \ No newline at end of file diff --git a/news/GOOG/2023.02.09/Alphabet A : Receives a Buy rating from JP Morgan.txt b/news/GOOG/2023.02.09/Alphabet A : Receives a Buy rating from JP Morgan.txt new file mode 100644 index 0000000000000000000000000000000000000000..d5bfa44d4e8405f78504991fc7b68884480409b1 --- /dev/null +++ b/news/GOOG/2023.02.09/Alphabet A : Receives a Buy rating from JP Morgan.txt @@ -0,0 +1 @@ +Already positive, the research from JP Morgan and its analyst Douglas Anmuth still consider the stock as a Buy opportunity. The target price is still set at USD 118. \ No newline at end of file diff --git a/news/GOOG/2023.02.09/Euronext has no plans to copy rivals with cloud computing deal.txt b/news/GOOG/2023.02.09/Euronext has no plans to copy rivals with cloud computing deal.txt new file mode 100644 index 0000000000000000000000000000000000000000..f5feafc71c139ce38a5b614acf9655f711d15842 --- /dev/null +++ b/news/GOOG/2023.02.09/Euronext has no plans to copy rivals with cloud computing deal.txt @@ -0,0 +1 @@ +London Stock Exchange Group, CME and Nasdaq have all announced partnerships with cloud computing giants like Alphabet, Amazon and Microsoft, with Deutsche Boerse joining them on Thursday in a "strategic partnership" with Google."One of the reasons why we are cautious about the use of data centres of Microsoft, Google and Amazon for critical parts of what we do is because our core supervisors and regulators are themselves very cautious," Boujnah told Reuters on Thursday.Euronext only uses a cloud provider for storing historical data, he said."When it comes to strategic applications such as real-time data and operations of the market, we do not want them to be stored and operated by the data centres of companies which have decision-making centres outside the EU, and physical infrastructure outside the EU," Boujnah added.Euronext said earlier on Thursday it has postponed until further notice a weekly report on positions held in its commodity derivatives, as disruption from a ransomware attack on financial data firm ION Group outside the bloc continued."We analyse very carefully the dependency on certain providers," Boujnah said as Euronext reported full year earnings.Earlier this week, the Bank for International Settlements said a "rethink" is needed on regulating how finance is becoming increasingly dependent on outside parties like cloud firms, which new EU rules will address.Euronext reported record full-year 2022 revenue and income of 1.418 billion euros ($1.52 billion), up 9.3% on 2021 due to consolidating its acquisition of Borsa Italiana.Adjusted earnings per share in 2022 was down 4.8% at 5.21 euros due to higher share count, and the company proposes to pay a dividend of 2.22 euros per share. Euronext said it has increased its 2024 annual pre-tax savings related to integrating Borsa Italiana by 15 million euros to 115 million, with around 70 million of this achieved by the end of 2023 as implementation costs remain unchanged.The savings are nearly double what was promised at the deal's outset."This further demonstrates Euronext's successful track record in integrating acquired companies," Boujnah said.($1 = 0.9307 euros) (Reporting by Huw Jones; Editing by Alexander Smith)By Huw Jones \ No newline at end of file diff --git a/news/GOOG/2023.02.09/Futures rise on earnings optimism, Disney climbs on revamp plan.txt b/news/GOOG/2023.02.09/Futures rise on earnings optimism, Disney climbs on revamp plan.txt new file mode 100644 index 0000000000000000000000000000000000000000..2decb09d792ee46bc1aca2324f2671cf441ab433 --- /dev/null +++ b/news/GOOG/2023.02.09/Futures rise on earnings optimism, Disney climbs on revamp plan.txt @@ -0,0 +1 @@ +Walt Disney Co climbed 6.6% in premarket trading after topping earnings estimates and announcing 7,000 job cuts as part of an effort to save $5.5 billion in costs and make its streaming business profitable.Casino stocks Wynn Resorts and MGM Resorts International gained about 5% each after reporting fourth-quarter results, with Wynn indicating a meaningful return of visitation and demand in Macau during the recent Chinese New Year holiday period.PepsiCo Inc rose 1.4% as the soda maker reported better-than-expected results for its fourth quarter.  Tobacco firm Philip Morris International Inc, drugmaker Abbvie Inc, apparel maker Ralph Lauren Corp and cereal maker Kellogg Co are all set to report earnings during the day.Of more than half of the S&P 500 companies that have reported fourth-quarter results so far, 69% have topped analysts' earnings estimates, as per Refinitiv IBES data. In a typical quarter 66% top estimates. U.S. stock indexes have enjoyed an upbeat start to the year, largely driven by hopes that the Federal Reserve is nearing the end of its interest rate-hike cycle and data signaling resilience in the economy.However, equity markets have wavered in the recent days as Fed officials acknowledged the cooling in U.S. inflation but said that more interest rate rises are in the cards amid evidence of a still-strong labor market.Data at 8:30 a.m. ET is expected to show the number of Americans filing for unemployment benefits rose to 190,00 in the week ended Feb. 4, after an increase of 183,00 in the previous week.  Megacap stocks including Meta Platforms, Apple Inc, Microsoft Corp, Google-parent Alphabet climbed in the range of 1% to 2% as U.S. Treasury yields extended declines. [US/]At 5:55 a.m. ET, Dow e-minis were up 254 points, or 0.75%, S&P 500 e-minis were up 37.25 points, or 0.9%, and Nasdaq 100 e-minis were up 162.5 points, or 1.3%.Tesla Inc firmed 3.7% as a U.S. safety board said it found no evidence a Tesla Model S was operating on Autopilot during an April 2021 fatal crash.Salesforce Inc edged 1.6% higher as a source familiar with the matter told Reuters that hedge fund Third Point LLC owns a stake in the company. (Reporting by Sruthi Shankar, Medha Singh and Johann M Cherian in Bengaluru; Editing by Sriraj Kalluvila) \ No newline at end of file diff --git a/news/GOOG/2023.02.09/Google loses its Alphabet.txt b/news/GOOG/2023.02.09/Google loses its Alphabet.txt new file mode 100644 index 0000000000000000000000000000000000000000..93b636befda33191ed1734e0030fcb856b824016 --- /dev/null +++ b/news/GOOG/2023.02.09/Google loses its Alphabet.txt @@ -0,0 +1,54 @@ + +In New York, the session was also marked by the individual rather than the collective. The Dow Jones gave up 0.6%, the S&P500 about 1.1% and the Nasdaq 100 more than 1.8%. It must be said that the U.S. technology index paid a heavy price to Alphabet, which collapsed by 7.4%. The parent company of Google paid a high price for the obviously untimely launch of its discussion tool based on artificial intelligence Bard. The group flaunted itself in style by releasing a promotional video in which Bard gets the James Webb telescope wrong. Asked about discoveries to be credited to the telescope, Bard said it was the first to take pictures of a planet outside the solar system, while a European telescope had done so long before it, in 2004. This may be a detail to you, but in the field of artificial intelligence it means a lot, especially that Bard is fallible on a relatively simple question. It's messy, especially when the sequence is used for marketing purposes. One can feel that the Californian group has tried to make a date in the nascent but already merciless competition of artificial intelligence "creators" of content, in the wake of the ChatGPT phenomenon. For a trial run, it was a shot in the arm, or in the foot, it remains to be seen. +It is also, from my point of view, a golden opportunity to remind us that the wheel sometimes turns and that situations that seem to last forever rarely do. This is perhaps what scares investors in Alphabet a little, and certainly Alphabet's managers themselves. Imagine: what if the Microsoft-ChatGPT combination created a must-have search engine? By turning this big loser Bing into a market leader, thanks to features that are far superior to the competition (you can read this article from the Wall Street Journal about the first steps with Microsoft's new solution). It's hard to imagine Google going from 90% to 8% of the search engine market. But ask Nokia executives if they thought they would go from 40% to 0 of the cell phone market in a few years (yes, young investor, Nokia made mobiles). And ask Yahoo executives if they thought the company would be demoted from the undisputed leader of the web to a lilliputian in the sector. +Beyond the case of Alphabet, technology stocks lost ground yesterday. Investors remain in a two steps forward, one step back mode, depending on the oracles about the US central bank's intentions regarding its rate policy. In 2022, these intentions were also at the center of the game but it was more like one step forward, three steps back. So sentiment has improved as the presumed end of the rate hike cycle approaches. +With the macroeconomic agenda still rather thin, it is the corporate results that dominate the discussions. With a good big batch this morning, since Thursday is traditionally the busiest day of the week in this respect with Visa, AbbVie, PepsiCo or PayPal. At 8:30 am, we will still take a look at the weekly employment figures in the United States, which serve as a crucial indicator of the Federal Reserve's monetary policy outlook. +In other news, Volodymyr Zelensky has continued to convince his allies to provide equipment to his troops. The Ukrainian president was in London and Paris yesterday and will be in Brussels this morning. In Turkey and Syria, the death toll from the two devastating earthquakes continues to rise. +Economic highlights of the day: +The market will keep an eye on the weekly US unemployment figures (8:30 am). All the agenda here. +  +The dollar remains in the 0.9295 EUR area. The ounce of gold is stagnating around 1880 USD. Oil has recovered, with North Sea Brent crude at USD 85.10 per barrel and US WTI light crude at USD 78.64. The yield on 10-year US debt is around 3.61%. Bitcoin is back down to around 22,600 USD. +  +In corporate news: +  + +* Walt Disney on Wednesday announced a major restructuring, splitting into three units and cutting some 7,000 jobs, or about 3.6% of the group's total workforce, as part of a plan to save $5.5 billion and make its streaming business profitable. The stock is up 6.6% in pre-market trading. +  +* Mattel - The maker of Barbie dolls and Fisher-Price toys warned Wednesday that its 2023 earnings would be lower than expected because of the impact of inflation on consumption. +  +* Robinhood Markets on Wednesday reported higher fourth-quarter revenue as the online brokerage benefited from a jump in interest income. In addition, it announced plans to buy back its shares from Emergent Fidelity Technologies, owned by Sam Bankman-Fried, the former boss of cryptocurrency trading platform FTX. +  +* Pepsi reported better-than-expected fourth-quarter sales and profit on Thursday, thanks to price hikes to offset soaring costs. The group's stock, which also raised its dividend by 10%, gained 1.3% in premarket trading. +  +* Hilton said Thursday it expects adjusted earnings of between $5.42 and $5.68 per share in 2023 after reporting a rise in quarterly profit, helped by strong travel demand and high room rates. +  +* Wynn Resorts and MGM advance about 5% in pre-market trading after their fourth-quarter results, with Wynn Casino Group reporting a significant return in Macau attendance and demand during the Chinese New Year vacation. +  +* Tapestry, the maker of Coach and Kate Spade handbags, raised its annual earnings forecast Thursday, and now says it expects earnings of $3.70 to $3.75 per share in 2023, up from a previous estimate of $3.60 to $3.70. +  +* Affirm - The fractional payments group on Wednesday announced a restructuring plan to cut about 500 jobs, or about 19% of its workforce. +  +* JP.Morgan cut hundreds of jobs from its mortgage business. +  +* Salesforce - Hedge fund Third Point has a stake in the computer giant, which is under pressure from four activist investors to make changes. +  +* Abbott agreed to acquire medical device maker Cardiovascular Systems Inc (CSI) for $837.6 million. +  +* Philip Morris, Kellogg's, Ralph Lauren, among others, are scheduled to report earnings this Thursday.  +  +Analyst recommendations: + +Black Hills: Mizuho Securities cut the recommendation to underperform from neutral. Price target set to $60. +Bunge: Baird downgrades to neutral from outperform. PT set to $115. +Capri Holdings: Bernstein cut the target to $56 from $63. Maintains market perform rating. +CDW: Raymond James maintains outperform rating. Price target upgrades to $220 from $200. +Diodes: Benchmark Company raised the price target to $105 from $ 90. +FormFactor: Needham & Co raised the target to $36 from $28. Maintains buy rating. +Maximus: Raymond James maintains outperform rating. Price target up to $100 from $80. +MGM Resorts International: Stifel raised the target to $53 from $46. Maintains buy rating. +Nabors Industries: Susquehanna Financial elevated the objective to $215 from $189 maintaining neutral rating. +Under Armour: Barclays maintains overweight rating. PT up to $13 from $10. +Walt Disney: Guggenheim Securities raised the target to $140 from $115. Maintains buy rating. +Wynn Resorts: Stifel maintains buy rating. Price target up to $127 from $115. + + diff --git a/news/GOOG/2023.02.09/How a band of Ukraine civilians helped seal Russia's biggest defeat.txt b/news/GOOG/2023.02.09/How a band of Ukraine civilians helped seal Russia's biggest defeat.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a2eaf11442106b8442d866ba7d7353e3c2eb675 --- /dev/null +++ b/news/GOOG/2023.02.09/How a band of Ukraine civilians helped seal Russia's biggest defeat.txt @@ -0,0 +1 @@ +The task was assigned to Dollar: the code name for a civilian who had been secretly providing targeting coordinates and information on enemy operations in Kherson and the surrounding region, the operative said.Reuters held extensive interviews with Dollar and two other members of the underground partisan network in Kherson after the city was captured in early November.Their separate accounts provide a rare window into how information and sabotage operations were coordinated with Ukrainian intelligence services behind enemy lines, operations that are still ongoing elsewhere in Ukraine.While Reuters could not corroborate the specific events they described, two U.S. officials said that such operations by an underground of intelligence operatives, ex-soldiers and amateurs helped hasten Russia's withdrawal from Kherson - one of the biggest setbacks for the Kremlin in a war that marks its first anniversary on Feb. 24.Dollar, who declined to give his name for security reasons, said he began driving by the Hotel Ninel - Lenin spelled backwards - with his wife, a fellow operative who is part of the network and uses the code name Kosatka, Ukrainian for killer whale.The gun-toting security men they regularly saw outside the hotel convinced the couple that FSB officers were staying inside; Dollar said he texted his observations to his handler at the Security Service of Ukraine (SBU).Ukraine's SBU and Russia's FSB did not respond to requests for comment on Dollar's account or other partisan operations. The defense ministry also did not respond to requests for comment.Before dawn on Oct. 5, a huge explosion ripped through the hotel, according to Ukrainian media reports and regional lawmaker Serhii Khlan, who wrote on Facebook that two FSB officers and seven Russian military officials died."I received an SMS (text) that said, 'Have a look and see how the Hotel Ninel is doing,'" recalled Dollar, who took Reuters to view the shattered hulk. "I went over and reported back: 'There is no more Hotel Ninel.'"Reuters was unable to review the text message. Dollar and other partisans say they regularly deleted their chats and social media for security reasons.Dollar and Kosatka received decorations from Ukrainian Defense Minister Oleksii Reznikov inscribed with thanks for "cooperating with the armed forces," according to a photograph seen by Reuters dated Dec. 1 in which the inscriptions are visible. Mart and Kolia, the other two members of their four-person cell, were also decorated by Reznikov, Dollar said.Asked about resistance operations in occupied territory, an official from Ukraine's Main Directorate of Intelligence (GUR) said "the local population is supportive," declining to provide details of specific activities.Operations to target Russian security personnel and disrupt their plans are continuing across swathes of eastern and southern Ukraine held by Russia and its allies, according to several Ukrainian and Russian-installed officials as well as members of the Kherson partisan cell.The Institute for the Study of War also says Ukrainian partisan warfare is being waged in Melitopol, Tokmak and Mariupol in the south and Donetsk and Svatove in the east.Serhiy Haidai, the exiled governor of the eastern Luhansk province which has been under Russian control since last June, said partisans there were conducting sabotage operations there and attacks on suspected Russian collaborators.In an interview on Jan. 23, he credited partisans with a recent attack on a railway line that Russia's military was using to transport troops and equipment. He declined to provide further details for security reasons and Reuters could not independently confirm partisan involvement in the attacks.CAPTURED PARTISANSRisking arrest, interrogation, torture and death, partisans in Kherson hung Ukraine's blue-and-yellow national colors on trees and relayed Russian positions on Google Earth and other online maps to Ukrainian security officials, Dollar said.Vitalyi Bogdanov, 51, a regional council member, said that during the eight-month Russian occupation, he collected and relayed to law enforcement authorities in Kyiv information later used to launch investigations into suspected collaborators."We were able to start a very big number of criminal cases," he said. He declined to provide further details because the investigations were ongoing.Kolia, part of the 4-member Kherson cell, said that the group was told by its handlers not to use firearms because information was a more potent weapon.Other partisans took up arms.Alexei Ladin, a lawyer in Russian-occupied Crimea, told Reuters he was defending two Ukrainians held there, accused by the FSB of violent attacks against the Russians.Pavlo Zaporozhets served in the Ukrainian army from 2014-17 and joined Ukraine's GUR military intelligence during the occupation of Kherson, Ladin said. Zaporozhets was arrested while attempting to attack a Russian military night patrol and faces up to life imprisonment on charges of international terrorism, Ladin said.He said Zaporozhets was being held in a detention facility in Simferopol and that he and his client attended a preliminary court hearing in the Russian port city of Rostov-on-Don by video link on Feb. 2. The court ordered Zaporozhets' transfer to a facility in Rostov, Ladin said.According to an FSB account seen by Reuters, Zaporozhets, then 31, was arrested in Kherson by FSB officers on May 9 carrying two grenades, a fishing line and two plastic bottles that he had made into homemade bombs.Zaparozhets told his questioners he was contacted by a Ukrainian GUR handler codenamed Optium and agreed to carry out his orders for 30,000 hryvnias ($800) a month, according to the FSB case documents seen by Reuters. Ladin said the FSB account was based on testimony obtained when his client was tortured during questioning and showed Reuters a copy of a handwritten note from Zaporozhets dated from last August in which he described being beaten and subjected to electric shocks while in custody.   While some details about the FSB account were true, Ladin said, the FSB falsely accused Zaporozhets of deliberately targeting civilians as well as the night patrol. The military action was meant to be carried out during the curfew with intention of avoiding civilian casualties, Ladin said.Ladin said the "optimal solution" would be an exchange of Zaporozhets and another client, Yaroslav Zhuk - who was arrested in Melitopol in June and accused of setting off a home-made bomb - for Russian POWs held by Ukraine. Zhuk denies attacking civilian targets, Ladin said.The FSB has declined to recognize Zaporozhets as a Ukrainian serviceman eligible for a prisoner swap, saying they could not verify a document presented by the defense confirming his status, Ladin said. In the case of Zhuk, Ladin says his client is a combatant covered by the Geneva convention; the FSB has not accepted the designation.Reuters was unable to speak to the two detainees directly. FLEEING KHERSONDollar, Kolia and Mart - another member of the cell - said they felt compelled to resist the Russian takeover of Kherson because there was no organized defense of their city when the Russians attacked on Feb. 24.Dollar and Mart's first overt bid to confront the Russians came on March 1, they said, when they drove a truck loaded with concrete blocks toward the Antonovskiy Bridge, a main entry point to the city, aiming to slow Russia's advance.     They turned around because they feared the invaders already were in the city, they said.    Dollar considered his options: organize a civil disobedience movement, take up arms or gather intelligence.    Friends put him in touch with an SBU officer. Dollar and Kolia, who were old friends, agreed to collect and relay information on the Russians and build a network of retired police officers, former SBU officials, pensioners, and others, they said.Kolia, a seasoned hunter who knew the Kherson countryside, solicited information from local villagers, including an elderly woman who would count Russian convoys as she milked her cow.Between reconnaissance forays, the pair would meet sources in a coffee shop to gather intelligence.Over the summer one farmer gave Kolia the position of a Russian truck-mounted missile launcher known as a Tochka-U around the village of Muzykivka, about 12 km (7.5 miles) north of Kherson. Dollar said he passed on the information.    The next day the farmer reported to Kolia that there was only a hole in the road where the truck once stood, Dollar said. Reuters could not independently confirm the attack.    Dollar's wife, Kosatka, recruited her own network of informants, he said. Kosatka declined to comment for this story.    THE AIRPORT     At the same time, Mart pursued an independent intelligence gathering effort, visiting people living near the Kherson International Airport in Chornobaivka on April 10 and urging them in person and over Telegram chats to send him information about Russian troop movements. He codenamed his five-person cell Miami. Reuters did not view the chats, which Mart said he deleted.Russian forces in March had established their headquarters within the three-square kilometre airport complex, which was repeatedly bombed by Ukrainian forces.Kyiv said large numbers of Russians soldiers were killed, including at least two generals, while aircraft and ammunition stores were also destroyed. Moscow withdrew its military hardware in October.    As Russian losses mounted, some members of the cell Mart had recruited grew over-confident and began taking greater risks, said Mart and Dollar.    When the Russians arrested four of the Miami members at the end of August, Mart feared they would give him away. Reuters was unable to determine what later happened to the four members.    Mart fled to Vasliyevka village in Zaporizhzhia  province, the only checkpoint where Russians allowed Ukrainian civilians to cross into Ukrainian-controlled territory, and then made his way to Kyiv.    Despite the liberation of Kherson, Dollar said he and Kosatka would continue aiding the resistance until Ukrainian troops recover Crimea, where the couple owns an apartment.              "The end of the war for me will be when I move back into my apartment," he said. (Reporting by Jonathan Landay and Tom Balmforth; Editing by Mike Collett-White and Suzanne Goldenberg)By Jonathan Landay and Tom Balmforth \ No newline at end of file diff --git a/news/GOOG/2023.02.09/Indonesia drafts law enabling media to receive payments from digital platforms for cont...txt b/news/GOOG/2023.02.09/Indonesia drafts law enabling media to receive payments from digital platforms for cont...txt new file mode 100644 index 0000000000000000000000000000000000000000..0c6ff0331517b20640ccdf6d3e4198e4e5b1a5a0 --- /dev/null +++ b/news/GOOG/2023.02.09/Indonesia drafts law enabling media to receive payments from digital platforms for cont...txt @@ -0,0 +1 @@ +The new law is expected to level the playing field between media and tech firms in terms of providing content and generating profit, said Arif Zulkifli, a member of Indonesia's Press Council.The law, proposed two years ago, was inspired by similar legislation in Germany and Australia, and is expected to be issued as a presidential regulation within a month. Digital platforms in Indonesia include Facebook, Alphabet Inc's , which at 78,300 tonnes are heading +towards 10-month lows hit last November.Cancelled warrants - metal earmarked for delivery - at 37% +of the total suggest more copper is due to leave LME warrant.In other metals, aluminium climbed 1% to $2,637, +zinc gained 0.2% to $3,427, lead slipped 1.7% to +$2,053, tin was down 0.1% to $29,505 and nickel +fell 2.2% to $28,140. +(Reporting by Pratima Desai; additional reporting by Neha +Arora; Editing by Jan Harvey and Chizu Nomiyama) \ No newline at end of file diff --git "a/news/GOOGL/2023.01.23/Doj poised to sue google over digital ad market dominance - bloo\342\200\246.txt" "b/news/GOOGL/2023.01.23/Doj poised to sue google over digital ad market dominance - bloo\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..0071dbbaa0db57ac68a68157e2ac348bfe49a580 --- /dev/null +++ "b/news/GOOGL/2023.01.23/Doj poised to sue google over digital ad market dominance - bloo\342\200\246.txt" @@ -0,0 +1 @@ +DOJ POISED TO SUE GOOGLE OVER DIGITAL AD MARKET DOMINANCE - BLOOMBERG NEWS \ No newline at end of file diff --git a/news/GOOGL/2023.01.23/Futures subdued with earnings in full swing, Salesforce up on Elliot stake.txt b/news/GOOGL/2023.01.23/Futures subdued with earnings in full swing, Salesforce up on Elliot stake.txt new file mode 100644 index 0000000000000000000000000000000000000000..f4eba452fa5f535afb60f0cd18ea53e7a323e657 --- /dev/null +++ b/news/GOOGL/2023.01.23/Futures subdued with earnings in full swing, Salesforce up on Elliot stake.txt @@ -0,0 +1 @@ +A slew of earnings in the coming weeks will also test the recent bounce in certain technology and growth stocks that took a large hit last year. Concerns of a possible recession amid a high interest rate environment have hit growth-related sectors, driving major tech companies such as Microsoft Corp, Amazon.com Inc and Alphabet Inc to lay off thousands of employees. Companies which make up more than half the S&P 500 index's market value will report earnings in the next two weeks, with Microsoft, the second-largest U.S. firm by market value, posting results on Tuesday, Tesla Inc and IBM on Wednesday and Intel on Thursday. Shares of cloud-based software firm Salesforce Inc rose 4.0% in premarket trading to lead gains among Dow components after activist investor Elliott Management Corp made a multi-billion-dollar investment in the company, according to people familiar with the matter. At 6:17 a.m. ET, Dow e-minis were down 5 points, or 0.01%, S&P 500 e-minis were down 3.25 points, or 0.08%, and Nasdaq 100 e-minis were down 5.75 points, or 0.05%. Data recently has pointed to some signs of inflation cooling but has also highlighted a tight labor market, which is key for the Federal Reserve to continue its aggressive rate-hiking cycle. Qualcomm Inc and Advanced Micro Devices Inc climbed around 2% each, after brokerage Barclays upgraded the chipmakers to "overweight" from "equal-weight". Payments firm PayPal Holdings Inc fell 2.1% after Germany's cartel office regulator said it had initiated proceedings against PayPal Europe over possible hindrance against competitors. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOGL/2023.01.23/Global markets live: Abbott, Goldman Sachs, Alphabet, Eli Lilly, Pay...txt b/news/GOOGL/2023.01.23/Global markets live: Abbott, Goldman Sachs, Alphabet, Eli Lilly, Pay...txt new file mode 100644 index 0000000000000000000000000000000000000000..64b61f120291b72a575fc2343ade9eb3c84e52bb --- /dev/null +++ b/news/GOOGL/2023.01.23/Global markets live: Abbott, Goldman Sachs, Alphabet, Eli Lilly, Pay...txt @@ -0,0 +1,24 @@ + +  +  + +Abbott has confirmed that it is under investigation by the U.S. Department of Justice regarding the closure of its infant milk plant. +Elliott takes a multibillion-dollar stake in Salesforce. +Goldman Sachs asset management arm will significantly reduce its $59 billion in alternative investments that are weighing on the bank's performance, an executive told Reuters. +Apple wants India to account for as much as 25 percent of its production, up from about 5 percent to 7 percent now, India's commerce minister said Monday. +Nokia and Samsung agree on a new 5G patent licensing deal. +Alphabet, Google's parent company, announces a large-scale redundancy plan with the elimination of about 12,000 jobs worldwide. +Union Investment, one of Bayer's shareholders, criticized on Sunday the lack of initiative of the group's chairman. +Holcim is buying up aggregates activities in the United States. +Salzgitter wants to cut about 500 to 800 jobs by 2033. +The FDA won't do an accelerated review for Eli Lilly's Alzheimer's treatment. +Elon Musk announces a new, more expensive subscription to hide ads on Twitter. +The owners of UK supermarkets Asda and EG Group are reportedly considering a merger. +Saga is looking to sell its insurance underwriting business, according to the British press. +Western Digital and Japan's Kioxia Holdings are in advanced discussions for a possible merger that will involve a dual listing, Bloomberg reports. +The German cartel regulator announced that it was launching proceedings against PayPal on suspicion of possible antitrust violations. +Baker Hughes reported a lower-than-expected fourth-quarter profit as the oilfield services company struggled with component shortages, the impact of inflation and disruptions caused by the war in Ukraine. +Spotify Technology announced plans to cut 6% of its workforce, or about 600 positions. +Silvergate Capital, a cryptocurrency specialist, assured Friday after-hours that it had limited exposure to Genesis, the latest player in the sector to file for bankruptcy. + +Main earnings reports today: Baker Hughes, Secunet... All the agenda is here.  diff --git a/news/GOOGL/2023.01.23/Microsoft to invest more in OpenAI as arms race in tech heats up.txt b/news/GOOGL/2023.01.23/Microsoft to invest more in OpenAI as arms race in tech heats up.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d7875ff733e69ff44712cc838b625074be22bae --- /dev/null +++ b/news/GOOGL/2023.01.23/Microsoft to invest more in OpenAI as arms race in tech heats up.txt @@ -0,0 +1,12 @@ +Jan 23 (Reuters) - Microsoft Corp said on +Monday it would invest more in OpenAI, staking its future on the +startup and technology behind the chatbot sensation ChatGPT and +setting the stage for more competition with its rival Alphabet +Inc's Google."Today, we are announcing the third phase of our long-term +partnership with OpenAI through a multiyear, multibillion dollar +investment to accelerate AI breakthroughs to ensure these +benefits are broadly shared with the world," the software giant +said in a blog post. +(Reporting By Jeffrey Dastin in Palo Alto, Calif.; Additional +reporting by Eva Mathews in Bengaluru; Editing by Krishna +Chandra Eluri) \ No newline at end of file diff --git a/news/GOOGL/2023.01.23/Microsoft to invest more in OpenAI as tech race heats up.txt b/news/GOOGL/2023.01.23/Microsoft to invest more in OpenAI as tech race heats up.txt new file mode 100644 index 0000000000000000000000000000000000000000..4ed9963d1b1bfba2ae85f22d7492ea61a8750705 --- /dev/null +++ b/news/GOOGL/2023.01.23/Microsoft to invest more in OpenAI as tech race heats up.txt @@ -0,0 +1 @@ +Recently touting a revolution in artificial intelligence (AI), Microsoft is building on a bet it made nearly four years ago on OpenAI. In 2019 it dedicated $1 billion for the startup co-founded by Elon Musk and investor Sam Altman, and has since built a supercomputer to power OpenAI's technology, among other forms of support.In a blog post, Microsoft said, "Today, we are announcing the third phase of our long-term partnership with OpenAI through a multiyear, multibillion dollar investment to accelerate AI breakthroughs to ensure these benefits are broadly shared with the world."A Microsoft spokesperson declined to comment on the terms of the investment, which some media outlets earlier reported would be $10 billion.Microsoft is committing even more resources to keep the two companies at the forefront via so-called generative AI, technology that can learn from vast data how to create virtually any type of content simply from a text prompt. OpenAI's ChatGPT, which produces prose or poetry on command, is the prime example that last year gained widespread attention in Silicon Valley.Microsoft last week said it aimed to imbue such AI into all its products, as OpenAI continues to pursue the creation of human-like intelligence for machines. Microsoft is already adding OpenAI's tech to Bing, its search engine that for the first time in years is being discussed as a potential rival to Google, the industry leader.The widely anticipated investment shows how Microsoft is locked in competition with Google, the inventor of key AI research that's now planning its own unveil for this spring, a person familiar with the matter previously told. (Reporting By Jeffrey Dastin in Palo Alto, Calif.; Additional reporting by Eva Mathews in Bengaluru; Editing by Krishna Chandra Eluri, Kirsten Donovan) \ No newline at end of file diff --git a/news/GOOGL/2023.01.23/Microsoft, Amazon results to highlight softening cloud business.txt b/news/GOOGL/2023.01.23/Microsoft, Amazon results to highlight softening cloud business.txt new file mode 100644 index 0000000000000000000000000000000000000000..5b9476f2c330a6dd508f0f7381c1373d1065d016 --- /dev/null +++ b/news/GOOGL/2023.01.23/Microsoft, Amazon results to highlight softening cloud business.txt @@ -0,0 +1 @@ +After years of blistering growth, most recently fuelled by remote working and studying during the pandemic, cloud demand has cooled in the past nine months and sales growth may slow further, analysts said.End-user cloud spending for services including those from the world's largest providers - Amazon Web Services (AWS) and Microsoft's Azure - is expected to grow 20.7% this year after 18.8% growth in 2022 and 52.8% in 2021, according to research firm Gartner."A lot of companies are slowing their migration to the cloud or asking for a lower price on their existing plans," RBC Capital Markets analyst Rishi Jaluria said. Microsoft Chief Executive Satya Nadella said last week that businesses were exercising caution as "some parts of the world are in a recession and other parts are anticipating one".THE CONTEXTAzure is set to grow 31% in the December quarter, according to Visible Alpha, its weakest growth since the Redmond, Washington-based company started breaking out the unit's numbers in 2015. AWS, Amazon's lucrative cloud business from which it gets more than a quarter of its revenue, is expected to post a 24% increase in sales in the quarter. It grew 28% in the July-September period.The slowdown is also expected to weigh on Alphabet Inc, the third-largest cloud provider, a sign that the overall market was maturing, analysts said. "Easy to move" workloads are already on the cloud and it will be harder for providers to encourage businesses to move the next batch of workloads to their platforms, brokerage UBS said earlier this month. Microsoft has also taken a hit from a slump in the personal computer market, where its Windows software is still the dominant operating system. Amazon, too, is feeling the heat from slowing retail demand.THE FUNDAMENTALS* Microsoft Q2 revenue is expected to rise 2.5% to $53 billion, the slowest increase in six years.* Amazon Q4 revenue is expected to rise 5.8% to $145.40 billion.WALL STREET SENTIMENT* 47 of 53 analysts rate Microsoft's stock "buy" or higher, and have a median price target of $285.* Microsoft shares have fallen 19% in the past 12 months.* 48 of 52 analysts rate Amazon's stock as "buy" or higher, and have a median price target of $135.* Amazon shares have fallen 32% in the past 12 months. (Reporting by Aditya Soni and Yuvraj Malik in Bengaluru; Editing by Anil D'Silva)By Yuvraj Malik and Aditya Soni \ No newline at end of file diff --git a/news/GOOGL/2023.01.23/Spotify to trim 6% of workforce in latest tech layoffs.txt b/news/GOOGL/2023.01.23/Spotify to trim 6% of workforce in latest tech layoffs.txt new file mode 100644 index 0000000000000000000000000000000000000000..c264a0f8ef56d010eed5865a294a9fd4c1f9580b --- /dev/null +++ b/news/GOOGL/2023.01.23/Spotify to trim 6% of workforce in latest tech layoffs.txt @@ -0,0 +1,29 @@ +Jan 23 (Reuters) - Spotify Technology SA said +on Monday it plans to cut 6% of its workforce and would take a +related charge of up to nearly $50 million, adding to the +massive layoffs in the technology sector in preparation for a +possible recession.The tech industry is facing a demand downturn after two +years of pandemic-powered growth during which it had hired +aggressively. That has led firms from Meta Platforms Inc +to Microsoft Corp to shed thousands of jobs."Over the last few months we've made a considerable effort +to rein in costs, but it simply hasn't been enough," Chief +Executive Daniel Elk said in a blog post announcing the roughly +600 job cuts."I was too ambitious in investing ahead of our revenue +growth," he added, echoing a sentiment voiced by other tech +bosses in recent months.Spotify's operating expenditure grew at twice the speed of +its revenue last year as the audio-streaming company +aggressively poured money into its podcast business, which is +more attractive for advertisers due to higher engagement levels.At the same time, businesses pulled back on ad spending on +the platform, mirroring a trend seen at Meta and Google parent +Alphabet Inc, as rapid interest rate hikes and the +fallout from the Russia-Ukraine war pressured the economy.The company, whose shares rose 5.8% to $103.55, is now +restructuring itself in a bid to cut costs and adjust to the +deteriorating economic picture.It said Dawn Ostroff, the head of content and advertising, +was leaving after an over four-year stint at the company. +Ostroff helped shape Spotify's podcast business and guided it +through backlash around Joe Rogan's show for allegedly spreading +misinformation about COVID-19.The company said it is appointing Alex Norström, head of the +freemium business, and research and development boss Gustav +Söderström as co-presidents.Spotify had about 9,800 full-time employees as of Sept. 30. +($1 = 0.9196 euros)(Reporting by Eva Mathews in Bengaluru; Editing by Sherry +Jacob-Phillips and Shailesh Kuber) \ No newline at end of file diff --git a/news/GOOGL/2023.01.23/Stocks, euro gain amid divergent Fed, ECB rate hike outlooks.txt b/news/GOOGL/2023.01.23/Stocks, euro gain amid divergent Fed, ECB rate hike outlooks.txt new file mode 100644 index 0000000000000000000000000000000000000000..347dbbae219b26ecd7c2f2a895eb6b525f808eef --- /dev/null +++ b/news/GOOGL/2023.01.23/Stocks, euro gain amid divergent Fed, ECB rate hike outlooks.txt @@ -0,0 +1,52 @@ +*Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn*Graphic: World FX rates http://tmsnrt.rs/2egbfVhNEW YORK/LONDON, Jan 23 (Reuters) - Global equity +markets edged higher on Monday as hopes of a less aggressive +Federal Reserve buoyed investor sentiment, while the euro hit a +nine-month peak against the dollar on the rising likelihood of +more jumbo interest rate hikes in Europe.The start of another big week for U.S. corporate earnings is +expected to test a recent bounce in beaten-down technology and +growth stocks as speculation grows that the Fed on Feb. 1 will +only raise its key rate by 25 basis points.European shares edged up 0.41% as declining natural +gas prices have eased recession fears in the euro zone, despite +expectations the European Central Bank will hike rates by 50 +basis points on Feb. 2 and in March, a Reuters poll shows.The euro shot to $1.0927 as it climbs from a +two-decade low of $0.953 in September, but the single currency +later pared gains against the dollar to $1.0867."The combination of a risk-off mood in the stock market and +the divergence between the Fed and ECB allowed the euro to make +new highs above 109," said Marc Chandler, chief market +strategist at Bannockburn Global Forex in New York.Gains in chipmakers boosted the technology sector, which has +been hit by recession concerns amid high interest rates, leading +Microsoft Corp, Amazon.com Inc and Alphabet +Inc to lay off thousands of employees.Investors are anxious to hear from corporate executives +about their economic outlook in a week in which Microsoft posts +results on Tuesday, Tesla Inc and IBM on +Wednesday and Intel on Thursday.Analysts expect year-over-year fourth-quarter earnings from +S&P 500 companies to decline 2.9%, according to IBES Refinitiv +data, compared with a 1.6% decline at the beginning of the year.The Dow Jones Industrial Average rose 0.72%, the S&P +500 gained 0.99% and the Nasdaq Composite added +1.55%, pushing ahead from gains last Friday, its best session +since late November.Trading was thin in Asia, as markets in China, Hong Kong, +Singapore, Malaysia, South Korea and Taiwan were closed for the +Lunar New Year holiday.MSCI's gauge of stocks across the globe +gained 0.82%.Money markets are pricing in a 97.8% chance that the Fed +will raise rates by 25 basis points next month, and have lowered +the likely peak rate to 4.906% in June, below Fed projections of +its target rate staying above 5% into next year.."The market’s still quite buoyant at the moment," said Peter +Chatwell, head of global macro strategies trading at Mizuho, who +said markets were being driven by the idea that U.S. inflation +has peaked.Investors are waiting for euro zone and U.S. flash PMI data +on Tuesday, which are expected to show less severe economic +contractions than the previous month, according to analysts +polled by Reuters. The data is forecast to show more improvement +in Europe than in the United States.Sterling traded at $1.2368, down 0.20%, while the +Australian dollar, seen as a proxy for risk appetite, rose 0.56% +to $0.7005. The Japanese yen weakened 0.70% at 130.49 per +dollar.Treasury yields crept up to further erode a recent bond +rally that some investors say was overdone in reflecting fears +that the U.S. economy may soon enter a recession.The yield on 10-year Treasury notes rose 2.4 +basis points to 3.508%.Euro zone bonds were little changed, with the benchmark +10-year German yield at 2.191%.Crude prices rose to extend last week's gains on the back of +a stronger outlook thanks to an expected economic recovery in +top oil importer China this year.U.S. crude recently rose 0.34% to $81.92 per barrel +and Brent was at $88.43, up 0.91% on the day.(Reporting by Herbert Lash, additional reporting by Elizabeth +Howcroft in London, Editing by Christina Fincher, Chizu Nomiyama +and Sharon Singleton) \ No newline at end of file diff --git a/news/GOOGL/2023.01.23/Tech job cuts: Spotify to shed 6% of workforce.txt b/news/GOOGL/2023.01.23/Tech job cuts: Spotify to shed 6% of workforce.txt new file mode 100644 index 0000000000000000000000000000000000000000..098de839ca4760fdfba040c33337ae0fac718993 --- /dev/null +++ b/news/GOOGL/2023.01.23/Tech job cuts: Spotify to shed 6% of workforce.txt @@ -0,0 +1 @@ +The music streaming service said Monday (January 23) that it would shed 6% of its workforce. That equates to around 600 jobs. The company said moves to rein in costs had proved insufficient. Last year saw operating expenditures grow at twice the pace of revenues as it poured money into podcasting. At the same time, Spotify saw businesses pull back on advertizing as factors including soaring interest rates pressured global demand. U.S.-listed shares in the company rose about 3.5% in pre-market trade following Monday's news. Now the job cuts make Spotify firmly part of a global trend. Tech firms shed jobs last year as a demand boom sparked by the global health crisis faded away. Layoffs have since picked up steam over the past few weeks. Google-parent Alphabet says it plans to eliminate 12,000 posts. Another 10,000 are going at Microsoft. And Amazon is in the process of cutting 18,000 jobs. \ No newline at end of file diff --git a/news/GOOGL/2023.01.23/U.S. Supreme Court seeks Biden administration view on Florida, Texas social media laws.txt b/news/GOOGL/2023.01.23/U.S. Supreme Court seeks Biden administration view on Florida, Texas social media laws.txt new file mode 100644 index 0000000000000000000000000000000000000000..1e746b046ce807778f643d02480ec7c47c1934e2 --- /dev/null +++ b/news/GOOGL/2023.01.23/U.S. Supreme Court seeks Biden administration view on Florida, Texas social media laws.txt @@ -0,0 +1 @@ +The justices are considering taking up two cases involving challenges to the state laws - both currently blocked - brought by technology industry groups NetChoice and the Computer & Communications Industry Association that count Twitter, Meta Platforms Inc's Facebook and Alphabet Inc's YouTube as members. Supporters of the laws have argued that social media platforms have silenced conservative voices while advocates for the judicious use of curbing content have argued for the need to stop misinformation and advocacy for extremist causes.Florida is seeking to revive its law after a lower court ruled largely against it, while the industry groups are appealing a separate lower court decision upholding the Texas law, which the Supreme Court had blocked at an earlier stage of the case.The cases would test the argument made by the industry groups that the U.S. Constitution's First Amendment guarantee of free speech protects the right of social media platforms to editorial discretion and prohibits the government from forcing them to publish and disseminate content against their will, or disclose internal content moderation processes. The companies have said that without editorial discretion their websites would be overrun with spam, bullying, extremism and hate speech. The Republican states passed their laws in 2021 in response to a view articulated by many U.S. conservatives and right-wing commentators that large technology companies - sometimes called Big Tech - regularly suppress their views. These people cite as an example Twitter's move to permanently suspend of Republican then-President Donald Trump from the platform in the aftermath of the Jan. 6, 2021, attack on the U.S. Capitol by a mob of his supporters, with the company citing "the risk of further incitement of violence."Florida's law requires platforms with at least 100 million users to "host some speech that they might otherwise prefer not to host" by disclosing censorship rules and applying them "in a consistent manner among its users." It also prohibits the banning of any political candidates. The Texas law forbids social media companies with at least 50 million monthly active users from acting to "censor" users based on "viewpoint." The New Orleans-based 5th U.S. Circuit Court of Appeals in 2022 upheld the Texas law, concluding that it "chills no speech whatsoever. To the extent it chills anything, it chills censorship."The Atlanta-based 11th U.S. Circuit Court of Appeals in 2022 rejected most of Florida's law but upheld the legality of the provisions requiring websites to make certain disclosures, including content moderation standards and rule changes. (Reporting by Andrew Chung; Editing by Will Dunham and Jonathan Oatis)By Andrew Chung \ No newline at end of file diff --git a/news/GOOGL/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt b/news/GOOGL/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt new file mode 100644 index 0000000000000000000000000000000000000000..e0450486bc3422bc88ca51d082472ea1496dc692 --- /dev/null +++ b/news/GOOGL/2023.01.23/Wall St eyes higher open with earnings in full swing, Salesforce rises.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Activist investor Elliott Management takes stake in +Salesforce*Baker Hughes falls on missing Q4 profit estimates*Futures up: Dow 0.24%, S&P 0.16%, Nasdaq 0.20%Jan 23 (Reuters) - U.S. stock indexes were set to open +higher at the start of another big week for corporate earnings, +with Salesforce leading gains on Monday following news that +Elliott Management had acquired a stake.A slew of earnings in the coming weeks will also test the +recent bounce in certain technology and growth stocks that took +a large hit last year. The tech-focused Nasdaq index was +the only major Wall Street benchmark that ended the previous +week higher.Concerns of a possible recession amid a high interest rate +environment have hit growth-related sectors, driving major tech +companies such as Microsoft Corp, Amazon.com Inc +and Alphabet Inc to lay off thousands of +employees.Companies which make up more than half the S&P 500 index's +market value will report earnings in the next two weeks, +with Microsoft, the second-largest U.S. firm by market value, +posting results on Tuesday, Tesla Inc and IBM +on Wednesday and Intel on Thursday.Analysts now expect year-over-year fourth-quarter earnings +from S&P 500 companies to decline 2.9%, according to IBES +Refinitiv data, compared with a 1.6% decline at the beginning of +the year."It's going to be a situation where I'm expecting to hear +weakness, not strength from corporate America," said Adam +Sarhan, chief executive of 50 Park Investments in New York."It's much better to lower expectations and then beat weak +expectations then it is to raise your guidance or have strong +expectations and then miss."Investors also await January manufacturing and +fourth-quarter GDP data for a clearer picture of the impact the +Federal Reserve's aggressive rate hikes have had on the economy.Data recently has signaled cooling inflation but has also +highlighted a tight labor market that offers the central bank +room to stick with its aggressive policy tightening.Shares of cloud-based software firm Salesforce Inc +rose 4.7% in premarket trading to lead gains among Dow +components after activist investor Elliott Management Corp made +a multi-billion-dollar investment in the company, according to +people familiar with the matter.At 8:39 a.m. ET, Dow e-minis were up 79 points, or +0.24%, S&P 500 e-minis were up 6.25 points, or 0.16%, +and Nasdaq 100 e-minis were up 23.5 points, or 0.2%.Among other stocks, Baker Hughes Co slid 1.4% on +missing fourth-quarter profit estimates, hit by component +shortages and supply chain disruptions.Xylem Inc fell 8.3% on its acquisition of water +treatment solutions firm Evoqua Water Technologies Corp +in a $7.42 billion deal. Evoqua shares jumped 13.7%.Qualcomm Inc and Advanced Micro Devices Inc +climbed above 2% each, after brokerage Barclays upgraded the +chipmakers to "overweight" from "equal-weight".Western Digital Corp rose 4.0% on a report that the +memory chip maker could merge with Japan's Kioxia Holdings. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/Alphabet to close Edmonton office of AI subsidiary DeepMind.txt b/news/GOOGL/2023.01.24/Alphabet to close Edmonton office of AI subsidiary DeepMind.txt new file mode 100644 index 0000000000000000000000000000000000000000..9c8ef05e7d270f5db25d0fb4f14ce6e2c930329b --- /dev/null +++ b/news/GOOGL/2023.01.24/Alphabet to close Edmonton office of AI subsidiary DeepMind.txt @@ -0,0 +1 @@ +EDMONTON — Alphabet Inc. says it will close the Edmonton office owned by its artificial intelligence subsidiary DeepMind.Spokesperson Lauren Skelly says DeepMind's Edmonton office was the only international site directly managed by the subsidiary, making it more resource-intensive than the other DeepMind spaces.The U.K.-headquartered subsidiary will consolidate its remaining operations, but maintain its Montreal and Toronto offices, which are located within Google-managed buildings.Skelly says researchers at the Edmonton office have been offered the chance to relocate to another DeepMind site.The Edmonton closure comes after Alphabet chief executive Sundar Pichai told staff last week that his company would be laying off 12,000 workers because it had hired for a different economic reality than the one that materialized.Shopify, Wealthsimple, Clearco and Hootsuite are also among the slew of tech companies which have made job cuts in recent months.This report by The Canadian Press was first published Jan. 24, 2023.© 2023 The Canadian Press. All rights reserved., source Canadian Press DataFile \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/Alphabet-owned AI firm DeepMind shutters office in Canada's Edmonton.txt b/news/GOOGL/2023.01.24/Alphabet-owned AI firm DeepMind shutters office in Canada's Edmonton.txt new file mode 100644 index 0000000000000000000000000000000000000000..fc94466582c72d2aaafb311ea83b1c94a7129de8 --- /dev/null +++ b/news/GOOGL/2023.01.24/Alphabet-owned AI firm DeepMind shutters office in Canada's Edmonton.txt @@ -0,0 +1 @@ +London-based DeepMind's Edmonton office is the only international site directly managed by the artificial intelligence firm, making it far more resource-intensive to operate, the spokesperson said. All other DeepMind sites are housed within Google-managed offices.Alphabet's layoffs follow thousands of layoffs at tech giants including Amazon.com Inc, Microsoft Corp and Meta Platforms Inc, which are cutting costs and downsizing after a pandemic-led hiring spree left them flabby in a weak economy. Researchers have been offered the option to relocate to another DeepMind office, such as DeepMind Montreal, based in Google's Montreal office, the spokesperson added.Google acquired DeepMind in 2014, putting the tech giant ahead in the AI race than most of its peers. But competition escalated after Microsoft-backed OpenAI's chatbot ChatGPT boosted investor interest in the promise of generative artificial intelligence."I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI," Alphabet Chief Executive Sundar Pichai said in the blog post on Jan. 20. (Reporting by Chavi Mehta in Bengaluru and Jeffrey Dastin in Palo Alto; Editing by Maju Samuel) \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/Big banks vs. PayPal and Apple Pay, Google cuts exe...txt b/news/GOOGL/2023.01.24/Big banks vs. PayPal and Apple Pay, Google cuts exe...txt new file mode 100644 index 0000000000000000000000000000000000000000..bb14dd3131e84c02d5b30fe785b0c49deee8acaa --- /dev/null +++ b/news/GOOGL/2023.01.24/Big banks vs. PayPal and Apple Pay, Google cuts exe...txt @@ -0,0 +1,9 @@ + +BASF, Gazprom, Associated British Foods, Dignity,, BP plc, Orsted, Grenergy Renovables, Inditex, Logitech, Juventus, Ford, Credit Suisse, PayPal, Apple, Wells Fargo, Bank of America, JPMorgan, Visa, Mastercard, Newell Brands, Rivian, Alphabet, Stanley Black & Decker, Hershey, Mondelez, Dai Nippon Printing and Honda feature in this press review! + + + + +  + +  diff --git a/news/GOOGL/2023.01.24/DOJ sues Google over abuse of digital ad dominance.txt b/news/GOOGL/2023.01.24/DOJ sues Google over abuse of digital ad dominance.txt new file mode 100644 index 0000000000000000000000000000000000000000..7c715944a17005f3978b4a44aba0dc253801c8bf --- /dev/null +++ b/news/GOOGL/2023.01.24/DOJ sues Google over abuse of digital ad dominance.txt @@ -0,0 +1 @@ +U.S. Attorney General Merrick Garland - announcing the lawsuit in Washington - said Google unfairly decimated the competition."For 15 years, Google has pursued a course of anticompetitive conduct that has allowed it to halt the rise of rival technologies, manipulate auction mechanics to insulate itself from competition, and force advertisers and publishers to use its tools. In so doing, Google has engaged in exclusionary conduct as severely weakened, if not destroy competition in the ad tech industry."Google responded by saying the government was "doubling down on a flawed argument" that would make it harder for small businesses and publishers to grow.Eight states joined the DOJ in this lawsuit, including Google's home state, California.This lawsuit is the second federal antitrust complaint filed against Google. The DOJ's first, filed in 2020, focused on the company's monopoly in search and is scheduled to go to trial in September. According to Insider Intelligence, Google remains the leader in digital ads by a long shot, though its share of U.S. digital ad revenue had fallen to 29% in 2022 from 37% in 2016. \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/Factbox-Biden administration continues Trump antitrust focus on tech giants.txt b/news/GOOGL/2023.01.24/Factbox-Biden administration continues Trump antitrust focus on tech giants.txt new file mode 100644 index 0000000000000000000000000000000000000000..e28d244dea1d460456e46df8ab4b1215805ca2c7 --- /dev/null +++ b/news/GOOGL/2023.01.24/Factbox-Biden administration continues Trump antitrust focus on tech giants.txt @@ -0,0 +1 @@ +Following are major U.S. government lawsuits and investigations regarding Big Tech.Google: The U.S. Justice Department sued Google on Tuesday, accusing the company of abusing its dominance of the digital advertising business and saying Google should be forced to sell its ad manager suite, in the government's latest attempt to slice away a portion of Big Tech's power. The U.S. Justice Department had previously sued Google in October 2020, accusing the $1 trillion company of illegally using its market muscle to hobble rivals in search. This case is scheduled to go to trial in September.Dozens of U.S. states and territories filed a broader version of the Justice Department lawsuit in December 2020. The state complaint accuses Google of abusing its market power to try to make its search engine as dominant inside cars, TVs and speakers as it is in phones. The same judge is hearing both the federal and state lawsuits in D.C. federal court. Also in 2020, Texas, backed by nine other states, filed a lawsuit against Google, accusing the internet search company of breaking antitrust law in how it runs its online advertising business. The case was moved to New York, to be heard with other, similar cases.The Justice Department is also probing Google to determine if bundling its Maps product with other Google software illegally stifles competition. Facebook:The Federal Trade Commission and a big group of states filed separate lawsuits to ask a court to force Meta Platforms to sell WhatsApp and Instagram, saying the social media company used a "buy or bury" strategy to snap up rivals and keep smaller competitors at bay. The judge threw out the state lawsuit on the grounds that they had waited too long to bring their case. The states have appealed while the FTC complaint goes forward. Apple: The Justice Department has a probe into Apple underway, which was revealed in June 2019. It appears to focus on Apple's app store. Some app developers have accused Apple of introducing new products very similar to existing apps created by other developers and sold in the Apple Store, and then trying to banish the older apps from the store because they compete with Apple's new product. Apple says it seeks to have only the highest-quality products in the app store.Amazon: In its investigation of Amazon, the FTC is believed to be probing the inherent conflict of interest of Amazon competing with small sellers on its marketplace platform, including allegations that it used information from sellers on its platform to decide what products it would introduce. (Reporting by Diane Bartz; Editing by Lisa Shumaker) \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/Factbox-The sun never sets on Google's antitrust woes.txt b/news/GOOGL/2023.01.24/Factbox-The sun never sets on Google's antitrust woes.txt new file mode 100644 index 0000000000000000000000000000000000000000..32f078fcca14425eefe3530fdd64878ca6806116 --- /dev/null +++ b/news/GOOGL/2023.01.24/Factbox-The sun never sets on Google's antitrust woes.txt @@ -0,0 +1 @@ +The following are some of the antitrust battles Google is fighting globally:INDIA: Google lost a big fight in India in mid-January when the Supreme Court refused to block an order from the Competition Commission of India which required Google to remove restrictions from its popular Android smartphone operating system. The order, for example, requires Google to allow users to delete apps like its YouTube subsidiary from Android phones.UNITED STATES: The U.S. Justice Department sued Alphabet's Google for the second time on Tuesday, accusing the company of abusing its dominance of the digital advertising business and saying it should be forced to sell its ad manager suite. Eight states joined the lawsuit.The U.S. Justice Department first sued Google in 2020 for violating antitrust law to maintain dominance in search and to extend its dominance into other areas. Trial is set for September. A large set of states filed a related lawsuit.Also in 2020, Texas, backed by nine other states, filed a lawsuit against Google, accusing the internet search company of breaking antitrust law in how it runs its online advertising business. The case was moved to New York, to be heard with other, similar cases.SOUTH KOREA: The antitrust regulator fined Alphabet's Google 207 billion won ($176.64 million) in September 2021, saying it abused its dominant market position to restrict competition in the mobile operating system market.EUROPE: Over the last decade, Google has incurred 8.25 billion euros ($8.24 billion) in EU antitrust fines following three investigations into its business practices. These include allegations Google imposed unlawful restrictions on manufacturers of Android mobile devices and mobile network operators to consolidate the dominant position of its search engine. BRITAIN: The Competition and Markets Authority has also moved to rein in Google and Facebook. It created a Digital Markets Unit, which could be given powers to suspend, block and reverse decisions made by technology firms and to impose financial penalties for non-compliance. (Compiled by Diane Bartz; editing by Grant McCool) \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/Futures edge lower as earnings roll in, chipmakers retreat.txt b/news/GOOGL/2023.01.24/Futures edge lower as earnings roll in, chipmakers retreat.txt new file mode 100644 index 0000000000000000000000000000000000000000..2f5baa8272610391273993d5c7a8e2ec335315ea --- /dev/null +++ b/news/GOOGL/2023.01.24/Futures edge lower as earnings roll in, chipmakers retreat.txt @@ -0,0 +1 @@ +In a week packed with high-profile earnings reports and key economic data, investors will now look to assess the impact of the Federal Reserve's rate-hiking spree. The central bank is widely expected to raise rates by another quarter of a percentage point next week.Industrial conglomerate 3M Co fell 2.5%, leading the decliners among Dow components in premarket trading, after reporting a fall in quarterly profit.General Electric Co slipped 2.6% as it forecast a lower-than-expected 2023 adjusted profit.Johnson & Johnson, however, rose 2.2% after the healthcare giant beat estimates for fourth-quarter profit.Wall Street's main indexes started the earnings-heavy week on solid ground amid renewed appetite for growth stocks following a battering last year.After logging its biggest gain in over two months on Monday, Advanced Micro Devices Inc slipped 2.5% as brokerage Bernstein downgraded the chipmaker to "market-perform" from "outperform" citing a bleak outlook for the PC market.Other chipmakers including Nvidia Corp, Intel Corp and Broadcom Inc fell between 0.4% and 1%.Analysts now see fourth-quarter earnings for S&P 500 companies dropping 3% year-on-year, nearly twice as much as the 1.6% annual drop seen at the beginning of the year, per Refinitiv data.At 6:58 a.m. ET, Dow e-minis were down 65 points, or 0.19%, S&P 500 e-minis were down 9 points, or 0.22%, and Nasdaq 100 e-minis were down 49.5 points, or 0.41%.Other major growth stocks also dipped, with Alphabet Inc falling 1.1%. The U.S. Justice Department is poised to sue Google as soon as Tuesday, according to a report, regarding its dominance over the digital advertising market.Microsoft Corp is scheduled to report quarterly earnings after the bell. Shares of the company inched 0.1% lower.Zions Bancorporation slid 2.7% after Chief Executive Harris Simmons warned that the lender continued to build loan loss reserves on recession worries.Data from S&P Global later in the day will likely show flash manufacturing PMI fell to 46.0 in January from a final reading of 46.2 in December, while flash services PMI rose to 45 this month from 44.7 in December. (Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/India tests domestic operating system days after Google's antitrust setback.txt b/news/GOOGL/2023.01.24/India tests domestic operating system days after Google's antitrust setback.txt new file mode 100644 index 0000000000000000000000000000000000000000..b9385b54c94b800ac9f42d10231c4b681c5d2d6e --- /dev/null +++ b/news/GOOGL/2023.01.24/India tests domestic operating system days after Google's antitrust setback.txt @@ -0,0 +1 @@ +The government endorsement of the operating system comes after Google lost its fight in India's Supreme Court to block an antitrust order that will force the company to change how it markets its Android operating system. "We have a long way to go, but if this happens, monopoly by anybody will go away," Dharmendra Pradhan, India's skill development and entrepreneurship minister, said at the BharOS testing event in New Delhi, without naming any companies.Prime Minister Narendra Modi has been pushing for self-reliance to boost and promote everything from local manufacturing to domestic startups.The operating system has been developed by a startup incubated at an Indian Institute of Technology in southern India.India is the world's second biggest smartphone market where about 97% of 600 million smartphones run on Android, according to Counterpoint Research estimates. The Competition Commission of India has said Google exploited its dominant position in Android, an allegation the company denies, and sought a series of changes in the way it operates.Google has been asked to remove restrictions imposed on device makers, including those related to pre-installation of apps. It has, however, warned the directives could stall growth of the Android ecosystem in India and force the company to alter arrangements with more than 1,100 device manufacturers.Google did not immediately respond to a request for comment. (Reporting by Tanvi Mehta; Editing by Aditya Kalra and Shinjini Ganguli) \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/Microsoft attracting users to its code-writing, generative AI software.txt b/news/GOOGL/2023.01.24/Microsoft attracting users to its code-writing, generative AI software.txt new file mode 100644 index 0000000000000000000000000000000000000000..54c92b29a630f509e6878392ac297f3639489c8e --- /dev/null +++ b/news/GOOGL/2023.01.24/Microsoft attracting users to its code-writing, generative AI software.txt @@ -0,0 +1,32 @@ +Jan 24 (Reuters) - Microsoft Corp on Tuesday +aimed to assure investors that its big bet on artificial +intelligence (AI) is paying off, even as economic turbulence is +making Microsoft customers scrutinize their cloud spend.Early evidence is in usage of a little-discussed tool that +can write computer code for programmers, called GitHub Copilot.Opened up to the public in June of last year, the tool drew +400,000 subscribers within a month. On Tuesday, Microsoft Chief +Executive Satya Nadella said that more than 1 million people had +used Copilot to date.Microsoft shares dipped slightly in after-hours trade on +Tuesday following its forecast that cloud-computing revenue in +the current quarter was just below Wall Street expectations.Yet the growth in Copilot is a preliminary indication that +people will pay for so-called generative AI, tech that can +produce prose, imagery or in this case computer code on command +after having learned the skill from vast data.Copilot suggests to programmers what to type next, writing +up to 35% or 40% of a file's code when enabled, the CEO of +GitHub, owned by Microsoft, said last year. It costs $100 +annually for individual subscribers, or can be billed through a +corporate account, according to a GitHub blog post.Microsoft this week said it would embark on a +multibillion-dollar investment including supercomputer +development and cloud support to power a startup it first backed +in 2019, known as OpenAI, which is at the forefront of +generative AI.Copilot itself relies on OpenAI's tech, as does a chatbot +sensation that Open AI released last year known as ChatGPT. +Microsoft has said it will make ChatGPT, which can draft code as +well as essays or poetry, available via its cloud.ChatGPT has grabbed enough attention to prompt industry +observers to say it could answer any user query if updated, +potentially letting Microsoft's Bing search engine take on +Alphabet Inc's Google, the industry leader. Google is +working on its own major AI launch, Reuters previously reported.Nadella said the Azure OpenAI Service, which offers the +startup's tech through Microsoft's cloud, has already attracted +200 customers, including KPMG and Al Jazeera. +(Reporting by Jeffrey Dastin in Palo Alto, Calif.; Editing by +Leslie Adler) \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/S&P 500 ends about flat after mixed earnings, opening glitch.txt b/news/GOOGL/2023.01.24/S&P 500 ends about flat after mixed earnings, opening glitch.txt new file mode 100644 index 0000000000000000000000000000000000000000..10a60a215591e72de2687a3e53c866fbecf1f4c4 --- /dev/null +++ b/news/GOOGL/2023.01.24/S&P 500 ends about flat after mixed earnings, opening glitch.txt @@ -0,0 +1 @@ +By the end of the session, the Dow closed up nearly a third of a percent. The S&P 500 fell but ended basically flat, while the Nasdaq lost about a quarter of a percent.Aside from the glitch, which caused initial price confusion and prompted an investigation by the U.S. Securities and Exchange Commission, earnings were in focus.A raft of mixed earnings took some wind out of the sails of the recent stock market rally. Dryden Pence, chief investment officer at Pence Capital, said investors were waiting to see how more of the earnings season plays out."Where we are is in this strange moment that everybody's holding their breath a little bit. We were trying to get, we're at the beginning of earnings season. We're seeing some of the earnings begin to come in. The beats are not as high as the beats were, maybe, going to be. So we're in this tug of war between earnings doing alright but not great, and we've seen the market move up a little bit because of, really, multiple expansion. You know, in the last two earnings seasons, we had multiples around low 16x. Now, we're at multiples around 18x. So sentiment is moving the market forward. We've seen this rise at the first part of the year. But, really, I think everybody is really cautiously waiting to see how earnings come through."After the closing bell, Microsoft reported a better-than-expected quarterly profit as strong performance at its cloud services business helped offset a slump in the PC market, sending shares 4% higher in extended trading.Shares of 3M ended more than 6% lower after the maker of Post-it notes reported downbeat fourth-quarter results and forecast a gloomy first quarter, as the industrial conglomerate struggles with slowing demand for consumer and electronic items.Shares of General Electric ended more than a percent higher after reporting earnings that exceeded expectations on robust demand for jet engines and power equipment, but provided underwhelming forward guidance due to inflationary headwinds.And shares of Alphabet ended about 2% lower after the Justice Department filed a lawsuit against Google accusing the company of abusing its dominance of the digital advertising business. \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/S&P 500 ends lower after mixed earnings, opening glitch.txt b/news/GOOGL/2023.01.24/S&P 500 ends lower after mixed earnings, opening glitch.txt new file mode 100644 index 0000000000000000000000000000000000000000..e3e130be4ae84527d448bc477841b79cbccb886d --- /dev/null +++ b/news/GOOGL/2023.01.24/S&P 500 ends lower after mixed earnings, opening glitch.txt @@ -0,0 +1,48 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*SEC investigating NYSE opening bell glitch*3M slides on downbeat Q1 forecast*J&J falls on sales warning; GE down on weak profit view*Microsoft quarterly results expected shortlyNEW YORK, Jan 24 (Reuters) -The S&P 500 ended slightly lower Tuesday at the close of a +rocky session marked by a raft of mixed earnings and a technical +malfunction at the opening bell.A spate of NYSE-listed stocks were halted at the top of the +session due to an apparent technical malfunction, which caused +initial price confusion and prompted an investigation by the +U.S. Securities and Exchange Commission (SEC).More than 80 stocks were affected by the glitch, which +caused wide swings in opening prices in dozens of stocks, +including Walmart Inc and Nike Inc."Everybody’s having computer problems, first the airlines +and now it’s the NYSE," said Tim Ghriskey, senior portfolio +strategist Ingalls & Snyder in New York. "Seems like it was +quickly corrected.""Some of the prints were clearly bad," Ghriskey added. "It +was a surprise. Unexpected."All three indexes sputtered near the starting line for much +of the session, showing little apparent momentum in either +direction.Fourth quarter earnings season is in full swing, with 72 of +the companies in the S&P 500 having reported. Of those, 65% have +beaten consensus, just a hair below the 66% long-term average, +according to Refinitiv.On aggregate, analysts now expect S&P 500 earnings 2.9% +below the year-ago quarter, down from the 1.6% year-on-year +decline seen on Jan. 1, per Refinitiv."The Fed will take apart earnings reports and look at how +the economy is doing, given the rate hikes and other issues out +there," Ghriskey said. "We’re getting closer to that point where +the Fed sees enough progress in the inflation fight to stop the +(interest) rate hikes and that’s why the markets have reacted +positively lately."Economic data showed shallower-than-expected contraction in +the manufacturing and services sector in the first weeks of the +year, suggesting that the Federal Reserve's restrictive interest +rates are dampening demand.According to preliminary data, the S&P 500 lost 2.94 +points, or 0.07%, to end at 4,016.87 points, while the Nasdaq +Composite lost 29.95 points, or 0.26%, to 11,334.47. The +Dow Jones Industrial Average rose 102.53 points, or +0.30%, to 33,732.09.Intercontinental Exchange Inc, owner of the New York +Stock Exchange, dropped as SEC investigators searched for the +cause of Tuesday's opening bell confusion.Alphabet Inc shares dipped after the Justice +Department filed a lawsuit against Google for abusing its +dominance of the digital advertising business.Johnson & Johnson's profit guidance came in above +analyst expectations.Industrial conglomerates 3M Co and General Electric +Co both provided underwhelming forward guidance due to +inflationary headwinds.3M's shares lost ground, while General Electric posted +modest gains.Aerospace/defense companies Lockheed Martin Corp and +Raytheon Technologies Corp were a study in contrasts, +with the former issuing a disappointing profit forecast and the +latter beating estimates on solid travel demand.Shares of Lockheed Martin and Raytheon advanced on the day.Railroad operator Union Pacific Corp missed profit +estimates as labor shortages and severe weather delayed +shipments. +(Reporting by Stephen Culp; Additional reporting by Shreyashi +Sanyal and Johann M Cherian in Bengaluru; Editing by Aurora +Ellis) \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/S&P 500 ends slightly down after mixed earnings, opening glitch.txt b/news/GOOGL/2023.01.24/S&P 500 ends slightly down after mixed earnings, opening glitch.txt new file mode 100644 index 0000000000000000000000000000000000000000..634d8ba256dc2f731f15eb987ce45d01edd9dbc5 --- /dev/null +++ b/news/GOOGL/2023.01.24/S&P 500 ends slightly down after mixed earnings, opening glitch.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*SEC investigating NYSE opening bell glitch*3M slides on downbeat Q1 forecast*J&J falls on sales warning; GE down on weak profit view*Microsoft gains in extended trading after posting results*Indexes: Dow up 0.31%, S&P 500 off 0.07%, Nasdaq down +0.27%NEW YORK, Jan 24 (Reuters) -The S&P 500 ended nominally lower on Tuesday at the close of +a rocky session marked by a raft of mixed earnings and a +technical malfunction at the opening bell.A spate of NYSE-listed stocks were halted at the top of the +session due to an apparent technical malfunction, which caused +initial price confusion and prompted an investigation by the +U.S. Securities and Exchange Commission (SEC).More than 80 stocks were affected by the glitch, which +caused wide swings in opening prices in dozens of stocks, +including Walmart Inc and Nike Inc."Everybody’s having computer problems, first the airlines +and now it’s the NYSE," said Tim Ghriskey, senior portfolio +strategist Ingalls & Snyder in New York. "Seems like it was +quickly corrected.""Some of the prints were clearly bad," Ghriskey added. "It +was a surprise. Unexpected."The Nasdaq joined the S&P 500 in negative territory, +while the Dow ended modestly higher.Fourth quarter earnings season is in full swing, with 72 of +the companies in the S&P 500 having reported. Of those, 65% have +beaten consensus, just a hair below the 66% long-term average, +according to Refinitiv.On aggregate, analysts now expect S&P 500 earnings 2.9% +below the year-ago quarter, down from the 1.6% year-on-year +decline seen on Jan. 1, per Refinitiv."The Fed will take apart earnings reports and look at how +the economy is doing, given the rate hikes and other issues out +there," Ghriskey said. "We’re getting closer to that point where +the Fed sees enough progress in the inflation fight to stop the +(interest) rate hikes and that’s why the markets have reacted +positively lately."Economic data showed shallower-than-expected contraction in +the manufacturing and services sector in the first weeks of the +year, suggesting that the Federal Reserve's restrictive interest +rates are dampening demand.The Dow Jones Industrial Average rose 104.4 points, +or 0.31%, to 33,733.96, the S&P 500 lost 2.86 points, or +0.07%, to 4,016.95 and the Nasdaq Composite dropped +30.14 points, or 0.27%, to 11,334.27.Among the 11 major sectors of the S&P 500, industrials +led the percentage gainers, while communication +services suffered the biggest loss.Intercontinental Exchange Inc, owner of the New York +Stock Exchange, dropped 2.2% as SEC investigators searched for +the cause of Tuesday's opening bell confusion.Alphabet Inc shares dipped 2.1% after the Justice +Department filed a lawsuit against Google for abusing its +dominance of the digital advertising business.Industrial conglomerates 3M Co and General Electric +Co both provided underwhelming forward guidance due to +inflationary headwinds.3M's shares lost 6.2% while General Electric's rose 1.2%.Aerospace/defense companies Lockheed Martin Corp and +Raytheon Technologies Corp were a study in contrasts, +with the former issuing a disappointing profit forecast and the +latter beating estimates on solid travel demand.Lockheed Martin and Raytheon were up 1.8% and 3.3%, +respectively.Railroad operator Union Pacific Corp missed profit +estimates as labor shortages and severe weather delayed +shipments. Its shares shed 3.3%.Microsoft gained more than 4% in extended trading +after narrowly missing quarterly revenue estimates.Advancing issues outnumbered declining ones on the NYSE by a +1.01-to-1 ratio; on Nasdaq, a 1.17-to-1 ratio favored decliners.The S&P 500 posted 26 new 52-week highs and 10 new lows; the +Nasdaq Composite recorded 77 new highs and 22 new lows.Volume on U.S. exchanges was 10.58 billion shares, compared +with the 10.61 billion average over the last 20 trading days. +(Reporting by Stephen Culp; Additional reporting by Shreyashi +Sanyal and Johann M Cherian in Bengaluru; Editing by Aurora +Ellis) \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/U.S. Attorney General Garland says Google has used anticompetitive tactics for 15 years.txt b/news/GOOGL/2023.01.24/U.S. Attorney General Garland says Google has used anticompetitive tactics for 15 years.txt new file mode 100644 index 0000000000000000000000000000000000000000..87ec49a22beae1edd90ea3ae0c91ac2ae0f2aef5 --- /dev/null +++ b/news/GOOGL/2023.01.24/U.S. Attorney General Garland says Google has used anticompetitive tactics for 15 years.txt @@ -0,0 +1,8 @@ +WASHINGTON, Jan 24 (Reuters) - U.S. Attorney General +Merrick Garland said on Tuesday, after the Justice Department +filed an antitrust lawsuit against Alphabet's Google, +that the Big Tech company has sought to defeat its rivals in the +online advertising business using anticompetitive tactics for 15 +years.Garland added that as a result of Google's practices the +United States has suffered as an advertiser, overpaying for ads. +(Reporting by Chris Sanders and Diane Bartz) \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/U.S. set to sue Google, to be joined by about eight states -- sources.txt b/news/GOOGL/2023.01.24/U.S. set to sue Google, to be joined by about eight states -- sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..a6161a7b2a71695a9d944adcdedf9f4d6b94af75 --- /dev/null +++ b/news/GOOGL/2023.01.24/U.S. set to sue Google, to be joined by about eight states -- sources.txt @@ -0,0 +1 @@ +WASHINGTON (Reuters) - The U.S. Justice Department will be joined by about eight states in an antitrust lawsuit against Alphabet's Google, which is expected to be filed this week, according to two sources familiar with the matter.  The lawsuit is expected to allege the Big Tech company broke antitrust rules with the way it runs its digital advertising business.   \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/U.S. targets Google's online ad business monopoly in latest Big Tech lawsuit.txt b/news/GOOGL/2023.01.24/U.S. targets Google's online ad business monopoly in latest Big Tech lawsuit.txt new file mode 100644 index 0000000000000000000000000000000000000000..a3cab28ebd99a518b7ed0f0a7db1bf5a3f4346ad --- /dev/null +++ b/news/GOOGL/2023.01.24/U.S. targets Google's online ad business monopoly in latest Big Tech lawsuit.txt @@ -0,0 +1,74 @@ +WASHINGTON, Jan 24 (Reuters) - The U.S. Justice +Department accused Alphabet Inc's Google on Tuesday of +abusing its dominance in digital advertising, threatening to +dismantle a key business at the heart of one of Silicon Valley's +most successful internet companies.The government said Google should be forced to sell its ad +manager suite, tackling a business that generated about 12 +percent of Google's revenues in 2021, but also plays a vital +role in the search engine and cloud company's overall sales."Google has used anticompetitive, exclusionary, and unlawful +means to eliminate or severely diminish any threat to its +dominance over digital advertising technologies," the antitrust +complaint said.Google, whose advertising business is responsible for about +80% of its revenue, said the government was "doubling down on a +flawed argument that would slow innovation, raise advertising +fees, and make it harder for thousands of small businesses and +publishers to grow."The federal government has said its Big Tech investigations +and lawsuits are aimed at leveling the playing field for smaller +rivals to a group of powerful companies that includes Amazon.com +, Facebook owner Meta Platforms and Apple Inc +."By suing Google for monopolizing advertising technology, +the DOJ today aims at the heart of the internet giant’s power," +said Charlotte Slaiman, competition policy director at Public +Knowledge. "The complaint lays out the many anticompetitive +strategies from Google that have held our internet ecosystem +back."Tuesday's lawsuit by the administration of President Joe +Biden, a Democrat, follows a 2020 antitrust lawsuit brought +against Google during the term of Donald Trump, a Republican.The 2020 lawsuit alleged violations of antitrust law in how +the company acquires or maintains its dominance with its +monopoly in online search and is scheduled to go to trial in +September.EIGHT STATES IN LAWSUITEight states joined Tuesday's lawsuit, including Google's +home state of California.California State Attorney General Rob Bonta said that +Google's practices have "stifled creativity in a space where +innovation is crucial."Colorado Attorney General Phil Weiser said that Google's +dominance had led to higher fees for advertisers and less money +for publishers with ad space to offer. "We are taking action by +filing this lawsuit to unwind Google’s monopoly and restore +competition to the digital advertising business," he said in a +statement.Google shares were down 1.9 percent on Tuesday.In addition to its well-known search, which is free, Google +makes revenue through its interlocking ad tech businesses. The +government asked for the divestiture of the Google Ad Manager +suite, including Google's ad exchange, AdX.Google Ad Manager is a suite of tools including one that +allows websites to offer advertising space for sale and an +exchange that serves a marketplace that automatically matches +advertisers with those publishers.Advertisers and website publishers have complained that +Google has not been transparent about where ad dollars go, +specifically how much goes to publishers and how much to Google.The lawsuit raises concerns about certain products in the ad +tech stack, where publishers and advertisers use Google's tools +to buy and sell ad space on other websites. That business was +about $31.7 billion in 2021 or 12.3 percent of Google’s total +revenue. About 70% of that revenue goes to publishers.An ad tech divestiture "may not be a game changer but it +could be sneaky important to Google's ad targeting capability," +said Paul Gallant with the Cowen Washington Research Group."It connects to all of Google's other businesses and +ties them together. I think Google might be more concerned about +losing ad tech down the road than people might think," Gallant +said.The company made a series of purchases, including +DoubleClick in 2008 and AdMob in 2009, to help make it a +dominant player in online advertising.'PROJECT POIROT'While Google remains the market leader by a long shot, +its share of the U.S. digital ad revenue has been eroding, +falling to 28.8% last year from 36.7% in 2016, according to +Insider Intelligence.The Justice Department asked for a jury to decide the case, +which was filed in the U.S. District Court for the Eastern +District of Virginia.The lawsuit lays out a number of Google's attempts to +dominate the advertising market.The complaint discussed header bidding, which was a way that +companies could bypass Google to bid on ad space on websites.It lays out a series of projects including one dubbed +"Project Poirot" named after Agatha Christie’s master detective, +Hercule Poirot. The project "was designed to identify and +respond effectively to ad exchanges that had adopted header +bidding technology."The 149-page complaint said Google doubled down after +Project Poirot's initial success in manipulating its +advertisers' spending to reduce competition from rival ad +exchanges. Rivals AppNexus/Xandr lost 31% of DV360 advertiser +spending, Rubicon would lose 22%, OpenX would lose 42%, and +Pubmatic would lose 26%, the complaint said.(Reporting by Diane Bartz and David Shepardson; additional +reporting by Sheila Dang; editing by Chris Sanders and Grant +McCool) \ No newline at end of file diff --git "a/news/GOOGL/2023.01.24/U.s. attorney general garland says that because of google's prac\342\200\246.txt" "b/news/GOOGL/2023.01.24/U.s. attorney general garland says that because of google's prac\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..8cfdff87895931310eaa02c9a85aa1882e919dee --- /dev/null +++ "b/news/GOOGL/2023.01.24/U.s. attorney general garland says that because of google's prac\342\200\246.txt" @@ -0,0 +1 @@ +U.S. ATTORNEY GENERAL GARLAND SAYS THAT BECAUSE OF GOOGLE'S PRACTICES THE U.S. HAS SUFFERED AS AN ADVERTISER, OVERPAYING FOR ADS \ No newline at end of file diff --git "a/news/GOOGL/2023.01.24/U.s. attorney general merrick garland says that google has sough\342\200\246.txt" "b/news/GOOGL/2023.01.24/U.s. attorney general merrick garland says that google has sough\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..b9b4112487dde03a3d826c121640c03a1c860ca5 --- /dev/null +++ "b/news/GOOGL/2023.01.24/U.s. attorney general merrick garland says that google has sough\342\200\246.txt" @@ -0,0 +1 @@ +U.S. ATTORNEY GENERAL MERRICK GARLAND SAYS THAT GOOGLE HAS SOUGHT TO FIGHT RIVALS USING ANTICOMPETITIVE TACTICS FOR 15 YEARS \ No newline at end of file diff --git "a/news/GOOGL/2023.01.24/U.s. doj, eight states say google \"has corrupted legitimate comp\342\200\246.txt" "b/news/GOOGL/2023.01.24/U.s. doj, eight states say google \"has corrupted legitimate comp\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..2bd5245166fa0fb92abfbb024475d73de0147f03 --- /dev/null +++ "b/news/GOOGL/2023.01.24/U.s. doj, eight states say google \"has corrupted legitimate comp\342\200\246.txt" @@ -0,0 +1 @@ +U.S. DOJ, EIGHT STATES SAY GOOGLE "HAS CORRUPTED LEGITIMATE COMPETITION IN THE AD TECH INDUSTRY" -- LAWSUIT \ No newline at end of file diff --git "a/news/GOOGL/2023.01.24/U.s. justice department seeks divestiture of google ad manager s\342\200\246.txt" "b/news/GOOGL/2023.01.24/U.s. justice department seeks divestiture of google ad manager s\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..ed8c5114038c1022fbd38b2ca5b5900c3804c244 --- /dev/null +++ "b/news/GOOGL/2023.01.24/U.s. justice department seeks divestiture of google ad manager s\342\200\246.txt" @@ -0,0 +1 @@ +U.S. JUSTICE DEPARTMENT SEEKS DIVESTITURE OF GOOGLE AD MANAGER SUITE, INCLUDING GOOGLE’S AD EXCHANGE ADX -- LAWSUIT \ No newline at end of file diff --git "a/news/GOOGL/2023.01.24/U.s. justice dept's antitrust lawsuit against google expected to\342\200\246.txt" "b/news/GOOGL/2023.01.24/U.s. justice dept's antitrust lawsuit against google expected to\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..c3042dc2ae2eb86a93eb87d2b386df1bfcef311a --- /dev/null +++ "b/news/GOOGL/2023.01.24/U.s. justice dept's antitrust lawsuit against google expected to\342\200\246.txt" @@ -0,0 +1 @@ +U.S. JUSTICE DEPT'S ANTITRUST LAWSUIT AGAINST GOOGLE EXPECTED TO INCLUDE ABOUT EIGHT US STATES - SOURCES \ No newline at end of file diff --git "a/news/GOOGL/2023.01.24/Us doj joined in google lawsuit by virginia, california, colorad\342\200\246.txt" "b/news/GOOGL/2023.01.24/Us doj joined in google lawsuit by virginia, california, colorad\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..b5420b404dd9715e8be46b5ec18fdd996f0fa40c --- /dev/null +++ "b/news/GOOGL/2023.01.24/Us doj joined in google lawsuit by virginia, california, colorad\342\200\246.txt" @@ -0,0 +1 @@ +US DOJ JOINED IN GOOGLE LAWSUIT BY VIRGINIA, CALIFORNIA, COLORADO, CONNECTICUT, NEW JERSEY, NEW YORK, TENNESSEE AND RHODE ISLAND -- COURT FILING \ No newline at end of file diff --git "a/news/GOOGL/2023.01.24/Us expected to sue google over alleged abuse of domination of on\342\200\246.txt" "b/news/GOOGL/2023.01.24/Us expected to sue google over alleged abuse of domination of on\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..6a2730c649dd265115ab82063174056f7619d4ed --- /dev/null +++ "b/news/GOOGL/2023.01.24/Us expected to sue google over alleged abuse of domination of on\342\200\246.txt" @@ -0,0 +1 @@ +US EXPECTED TO SUE GOOGLE OVER ALLEGED ABUSE OF DOMINATION OF ONLINE ADVERTISING MARKET - SOURCES \ No newline at end of file diff --git "a/news/GOOGL/2023.01.24/Usdoj, eight states file antitrust lawsuit against google -- cou\342\200\246.txt" "b/news/GOOGL/2023.01.24/Usdoj, eight states file antitrust lawsuit against google -- cou\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..f16e1e3c84e921e8ab8d7ddd636c0f217d7c2ca6 --- /dev/null +++ "b/news/GOOGL/2023.01.24/Usdoj, eight states file antitrust lawsuit against google -- cou\342\200\246.txt" @@ -0,0 +1 @@ +USDOJ, EIGHT STATES FILE ANTITRUST LAWSUIT AGAINST GOOGLE -- COURT FILING \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/Wall Street edges lower as earnings kick into high gear.txt b/news/GOOGL/2023.01.24/Wall Street edges lower as earnings kick into high gear.txt new file mode 100644 index 0000000000000000000000000000000000000000..0660929cb698c86f12e7e6bd460cd5ea38d818e7 --- /dev/null +++ b/news/GOOGL/2023.01.24/Wall Street edges lower as earnings kick into high gear.txt @@ -0,0 +1,44 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*3M slides on downbeat Q1 forecast*J&J falls on sales warning; GE down on weak profit view*Microsoft to report quarterly earnings after market close*Indexes: S&P and Nasdaq down 0.1%, Dow flatJan 24 (Reuters) -Wall Street slipped on Tuesday after industry bellwethers +3M, Johnson & Johnson and GE warned of a challenging year ahead, +while a technical issue at the New York Stock Exchange briefly +halted trading in some stocks shortly after the opening bell.More than 80 NYSE-listed stocks were affected by theglitch, with shares of companies including Nike Inc and +Walmart Inc seeing big swings in opening prices.The problem sowed confusion among traders on an +earnings-heavy day, where the market reaction to the quarterly +results of some of the biggest companies was in focus.Industrial conglomerate 3M Co fell 5.7% as it +forecast a gloomy first quarter.Verizon Communications Inc dropped 0.4% after +forecasting annual profit below estimates, while Johnson & +Johnson fell 1.3% as it warned that a surge in China +COVID-19 cases could dent the first half sales in 2023.General Electric Co fell 0.2% on a disappointing +profit forecast for the year, despite topping quarterly earnings +estimates."The problem today is mainly earnings," said Fall Ainina, +research director at James Investments. "Now many are +forecasting a profit recession, which is back-to-back quarters +of negative earnings."Wall Street's main indexes started the week on a strong note +amid renewed appetite for growth stocks following a battering +last year.After logging its biggest gain in over two months on Monday, +Advanced Micro Devices Inc slipped 3.2% as Bernstein +downgraded it to "market-perform" from "outperform".The Philadelphia SE Semiconductor index dropped 0.7% +to slip from its one-month high.Big Tech earnings could also determine whether renewed +enthusiasm for growth stocks will be sustained."In the near-term, the answer seemingly lies with tech +earnings ... longer-term, if we do experience a Fed pivot this +year, then would anticipate a strong, positive buying impulse +for tech," JPMorgan analysts wrote in a client note.Microsoft Corp is scheduled to report quarterly +earnings after the bell.Analysts now see fourth-quarter earnings for S&P 500 +companies dropping 2.9% year-on-year, according to Refinitiv +data.The fourth-quarter earnings season is keenly watched as +companies are expected to feel the full impact of the Federal +Reserve's rate-hike campaign. The central bank is expected to +raise rates by another quarter of a percentage point next week.At 12:31 p.m. ET, the Dow Jones Industrial Average +was up 0.20 points, or 0.00%, at 33,629.76, the S&P 500 +was down 5.95 points, or 0.15%, at 4,013.86, and the Nasdaq +Composite was down 14.26 points, or 0.13%, at 11,350.15.Travelers Companiesadded 2.6% after the insurer reported +better-than-expected fourth-quarter revenue.Other major growth stocks also dipped, with Alphabet Inc +down 1.1%. The U.S. Justice Department will be joined +by about eight states in an antitrust lawsuit against Alphabet's +Google that is expected to be filed this week.Advancing issues outnumbered decliners by a 1.13-to-1 ratio +on the NYSE. Declining issues outnumbered advancers for a +1.08-to-1 ratio on the Nasdaq.The S&P index recorded 27 new 52-week highs and 10 new +lows, while the Nasdaq recorded 60 new highs and 18 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/GOOGL/2023.01.24/Wall Street totters after mixed earnings, trade halt glitch.txt b/news/GOOGL/2023.01.24/Wall Street totters after mixed earnings, trade halt glitch.txt new file mode 100644 index 0000000000000000000000000000000000000000..d4b676e9e9c1baa1fa80dc3688f0c24a40c08569 --- /dev/null +++ b/news/GOOGL/2023.01.24/Wall Street totters after mixed earnings, trade halt glitch.txt @@ -0,0 +1,51 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*SEC investigating NYSE opening bell glitch*3M slides on downbeat Q1 forecast*J&J falls on sales warning; GE down on weak profit view*Microsoft to report quarterly earnings after market close*Indexes: Dow up 0.18%, S&P 500 off 0.13%, Nasdaq down +0.25%NEW YORK, Jan 24 (Reuters) - Wall Street was mixed on +Tuesday as a raft of mixed earnings took some wind out of the +sails of the recent rally.The session got off to an rocky start, as a spate of +NYSE-listed stocks were halted at the opening bell due to an +apparent technical glitch, which caused initial price confusion +and prompted an investigation by the U.S. Securities and +Exchange Commission (SEC).More than 80 stocks were affected by the glitch, which +caused wide swings in opening prices in stocks, including +Walmart Inc and Nike Inc."It looks like NYSE got on it real early," said Joseph +Sroka, chief investment officer at NovaPoint in Atlanta. "Now +they’re trying to determine what opening trade prices were.""Everyone involved in trade settlements is going to have a +long day today."All three indexes sputtered near the starting line, with +little apparent momentum in either direction.Fourth quarter earnings season is in full swing, with 72 of +the companies in the S&P 500 having reported. Of those, 65% have +beaten consensus, just a hair below the 66% long-term average, +according to Refinitiv.On aggregate, analysts now expect S&P 500 earnings 2.9% +below the year-ago quarter, down from the 1.6% year-on-year +decline seen on Jan. 1, per Refinitiv."Earnings don’t make a bull or bear case for the market yet, +but there's an anxiousness among investors to be long when the +Fed is done raising rates," Sroka added. "We’re hitting a ramp +in the earnings cycle, and by next week we'll have a lot more +information on the direction of the market."Economic data showed shallower-than-expected contraction in +the manufacturing and services sector in the first weeks of the +year, suggesting that the Federal Reserve's restrictive interest +rates are dampening demand.The Dow Jones Industrial Average rose 60.69 points, +or 0.18%, to 33,690.25, the S&P 500 lost 5.36 points, or +0.13%, to 4,014.45 and the Nasdaq Composite dropped +28.39 points, or 0.25%, to 11,336.03.Among the 11 major sectors of the S&P 500, industrials +led the percentage gainers, while healthcare +was down the most.Intercontinental Exchange Inc, owner of the New York +Stock Exchange, dropped 2.5% as SEC investigators searched for +the cause of Tuesday's opening bell confusion.Alphabet Inc shares dipped 1.8% after the Justice +Department filed a lawsuit against Google for abusing its +dominance of the digital advertising business.Johnson & Johnson's profit guidance came in above +analyst expectations. Even so, its stock softened 0.3%.Industrial conglomerates 3M Co and General Electric +Co both provided underwhelming forward guidance due to +inflationary headwinds.3M's shares were off 5.1% while General Electric's were +modestly lower.Aerospace/defense companies Lockheed Martin Corp and +Raytheon Technologies Corp were a study in contrasts, +with the former issuing a disappointing profit forecast and the +latter beating estimates on solid travel demand.Lockheed Martin and Raytheon were up 1.5% and 2.5%, +respectively.Railroad operator Union Pacific Corp missed profit +estimates as labor shortages and severe weather delayed +shipments. Its shares shed 2.7%.Microsoft Corp is due to report after the bell.Advancing issues outnumbered declining ones on the NYSE by a +1.16-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored decliners.The S&P 500 posted 27 new 52-week highs and 10 new lows; the +Nasdaq Composite recorded 69 new highs and 21 new lows. +(Reporting by Stephen Culp; Additional reporting by Shreyashi +Sanyal and Johann M Cherian in Bengaluru; Editing by Aurora +Ellis) \ No newline at end of file diff --git a/news/GOOGL/2023.01.25/Alphabet A : Credit Suisse maintains a Buy rating.txt b/news/GOOGL/2023.01.25/Alphabet A : Credit Suisse maintains a Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..31d978707e674ce58ceca48b66a1f8d377cc3859 --- /dev/null +++ b/news/GOOGL/2023.01.25/Alphabet A : Credit Suisse maintains a Buy rating.txt @@ -0,0 +1 @@ +In his latest research note, analyst Stephen Ju confirms his positive recommendation. The broker Credit Suisse is keeping its Buy rating. The target price is increased from USD 128 to USD 145. \ No newline at end of file diff --git a/news/GOOGL/2023.01.25/Google makes changes to some services in India.txt b/news/GOOGL/2023.01.25/Google makes changes to some services in India.txt new file mode 100644 index 0000000000000000000000000000000000000000..532b7447284450a8b0123d568dac5e0f0f41da49 --- /dev/null +++ b/news/GOOGL/2023.01.25/Google makes changes to some services in India.txt @@ -0,0 +1 @@ +The move comes after the country's Supreme Court upheld stringent antitrust directives, forcing the U.S. firm to change how it markets its popular Android platform in a key growth market. (Reporting by Nallur Sethuraman in Bengaluru) \ No newline at end of file diff --git a/news/GOOGL/2023.01.25/Google says DOJ's antitrust suit is 'without merit'.txt b/news/GOOGL/2023.01.25/Google says DOJ's antitrust suit is 'without merit'.txt new file mode 100644 index 0000000000000000000000000000000000000000..db12e79ed41c69b199aa8f4fa8afe685cfdeec00 --- /dev/null +++ b/news/GOOGL/2023.01.25/Google says DOJ's antitrust suit is 'without merit'.txt @@ -0,0 +1 @@ +Google on Wednesday said it will "defend itself vigorously" against the antitrust lawsuit, filed a day earlier by the DOJ and eight states. The lawsuit seeks to break up the company's online ad business by forcing Google to sell its ad manager suite.Matt Stoller, Research Director at the American Economic Liberties Project, breaks down the government's position."The basis of the case is that Google is controlling the buy-side, the sell-side - so that would be the buyers of advertising, the sellers of advertising, that would publishers, newspapers - and then the matching engine. And that that would be a series of conflicts of interest and that Google has been manipulating these advertising markets, charging too much and excluding competitors." Advertisers and website publishers have complained that Google, which is owned by Alphabet, has not been transparent about where ad dollars go, specifically how much goes to publishers and how much to Google. "So Google effectively can say - they can set the price, no one can audit them. And what you should have, is when you put a dollar of advertising into an advertising system, maybe 5 to 10 % of that should go to the middle men [FLASH]. What the DOJ says, and these eight states say, is that about 35% of that money is going to Google, and that's a really, really high amount, that's a high percentage of take." Google, which depends on its advertising business for about 80% of its revenue, said the government was "doubling down on a flawed argument that would slow innovation, raise advertising fees and make it harder for thousands of small businesses and publishers to grow." The Justice Department asked for a jury to decide the case, which was filed in Virginia. \ No newline at end of file diff --git a/news/GOOGL/2023.01.25/Google says U.S. Justice Department complaint is 'without merit'.txt b/news/GOOGL/2023.01.25/Google says U.S. Justice Department complaint is 'without merit'.txt new file mode 100644 index 0000000000000000000000000000000000000000..1138b3675f90fb87ed59bb2fab5280323a85bc54 --- /dev/null +++ b/news/GOOGL/2023.01.25/Google says U.S. Justice Department complaint is 'without merit'.txt @@ -0,0 +1 @@ +The company also added it will "defend itself vigorously".The government on Tuesday said Google should be forced to sell its ad manager suite, tackling a business that generated about 12% of Google's revenue in 2021 while also playing a vital role in the search engine and cloud company's overall sales.Google, which depends on its advertising business for about 80% of its revenue, said the government was "doubling down on a flawed argument that would slow innovation, raise advertising fees and make it harder for thousands of small businesses and publishers to grow."The federal government has said its Big Tech investigations and lawsuits are aimed at leveling the playing field for smaller rivals who are up against a group of powerful companies that include Amazon.com, Facebook-owner Meta Platforms and Apple Inc."In contrast with prior cases/investigations against Google's ad tech biz, we view the DOJ complaint as fairly substantive and preempting some potential Google lines of defense," said Wells Fargo analyst Brian Fitzgerald. (Reporting by Tiyashi Datta and Nivedita Balu in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/GOOGL/2023.01.25/Judge Leonie Brinkema named to oversee U.S. lawsuit against Google.txt b/news/GOOGL/2023.01.25/Judge Leonie Brinkema named to oversee U.S. lawsuit against Google.txt new file mode 100644 index 0000000000000000000000000000000000000000..31d32dfd2585b770588c4652cc612a40cc48911a --- /dev/null +++ b/news/GOOGL/2023.01.25/Judge Leonie Brinkema named to oversee U.S. lawsuit against Google.txt @@ -0,0 +1 @@ +The government on Tuesday argued that Google should be forced to sell its ad manager suite, tackling a business that generated about 12 percent of Google's revenues in 2021 but also plays a vital role in the search engine and cloud company's overall sales.Google said on Wednesday that the complaint was "without merit."According to a filing to the docket late Tuesday, Brinkema, 78 and whose court is in Alexandria, Virginia, near Washington, was assigned to oversee the case. The government has asked for a jury trial. It is the second antitrust lawsuit filed by the department, with the first coming near the end of the Trump administration in 2020. That will go to trial in September.In addition to putting a stay on Trump's executive order, Brinkema, who was nominated by President Bill Clinton, also oversaw the trial of Sept. 11 conspirator Zacarias Moussaoui, who is now in a maximum security prison in Colorado. (Reporting by Diane Bartz; editing by Jonathan Oatis) \ No newline at end of file diff --git a/news/GOOGL/2023.01.25/Marketmind: Cloudy outlook.txt b/news/GOOGL/2023.01.25/Marketmind: Cloudy outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..30c43da88a0e108d583093b0838339dfbd4319a2 --- /dev/null +++ b/news/GOOGL/2023.01.25/Marketmind: Cloudy outlook.txt @@ -0,0 +1 @@ +With market visibility extremely low, bouts of optimism about peak interest rates this year are being repeatedly punctured by the related fear of falling demand and the prospect of a looming profits recession.And deep in the weeds of the fourth-quarter corporate earnings season, Microsoft's overnight rollercoaster probably defines the uncertainty.Microsoft stock surged almost 5% in after-hours trading on Tuesday after its bottom line beat the Street consensus. But the gains were quickly wiped out after a gloomier outlook for its cloud business Azure dampened the mood, before Wednesday's outage of its Teams and Outlook services added another glitch to leave the stock down 1% ahead of Wednesday's open.The mixed earnings picture dampened early week enthusiasm surrounding tech stocks and chipmakers. Even forecast sales growth of 25% in 2023 wasn't enough to stop shares in Dutch chip equipment giant ASML giving back some of its 20%-plus gains for the year so far and they dropped 2% on Wednesday.Antitrust worries also rattled Big Tech. Google-parent Alphabet lost 2% on Tuesday after the Justice Department filed a lawsuit against Google for abusing its dominance of the digital advertising business.Up next on the corporate roundup on Wednesday are Tesla, IBM, Boeing, AT&T and NextEra Energy.After a spluttering close on Tuesday, Wall St stock futures were down almost 1% before the open today. The bigger macro picture was no less equivocal than the earnings drumbeat. While the first U.S. business surveys of the year showed some of last year's pessimism lifting, and above forecast, they also showed the 7th straight month of contracting activity in January. The Richmond Federal Reserve's manufacturing index plunged back to its lowest since June, the low for the current cycle.U.S. Treasury yields slipped back, with 10-year yields falling to 3.43% as eyes drift to next week's Fed policy meeting and the assumption the central bank will downsize its latest rate rise to 25 basis points. With the debt ceiling impasse also in the background, the U.S. yield curve between 3-months and 10-years inverted to another 40-year low of minus 130bp.Traders will watch the Bank of Canada policy decision later on Wednesday for confirmation that interest rate rises are slowing down at least. The BoC is expected to raise rates by another 25bp to 4.5% this week, but then hit the pause button on what has been an aggressive tightening campaign.The global inflation picture also gives mixed signals. While annual British input and factory gate price inflation fell back far more than forecast last month, Australian consumer price inflation data shocked markets as it shot to a 33-year high in the December quarter. The chance it may force the Reserve Bank of Australia to lift interest rates again boosted the Aussie dollar.There was more evidence of the new year euro zone business rejuvenation as Germany firms' optimism improved amid easing energy costs and a warm winter.In deals news, Rupert Murdoch withdrew a proposal to reunite News Corp and Fox - with the company exploring a sale of Move Inc, which operates the Realtor.com website, to CoStar Group for about $3 billion.Key developments that may provide direction to U.S. markets later on Wednesday: * Bank of Canada policy decision. * U.S. Treasury Secretary visits South Africa* U.S. Treasury auctions 5-year note, 2-year floating rate note* U.S. corp earnings: Tesla, Ameriprise, Nasdaq, U.S. Bancorp, Abbott, NextEra, AT&T, IBM, Boeing, CSX, Seagate Technology, Crown Castle, Lam Research, Freeport-McMoRan, Hess, Las Vegas Sands, ADP, ServiceNow, Teradyne, United Rentals, Kimberly-Clark, Norfolk Southern, Marketaxess, Amphenol, Textron etc (By Mike Dolan, editing by Elaine Hardcastle mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/GOOGL/2023.01.25/Marketmind: Running out of breath.txt b/news/GOOGL/2023.01.25/Marketmind: Running out of breath.txt new file mode 100644 index 0000000000000000000000000000000000000000..68b6e8481233b53ce9d952651323a0a38b2e24d6 --- /dev/null +++ b/news/GOOGL/2023.01.25/Marketmind: Running out of breath.txt @@ -0,0 +1 @@ +After a strong start to the year, fuelled by hopes that the outlook for the world economy was not shaping up as bad as expected a few months ago, stocks are finally taking a breather.Asian equities held steady on Wednesday near seven-month highs after a mixed session on Wall Street.On the corporate front, Barclays CEO C.S. Venkatakrishnan appointed former Credit Suisse dealmaker Cathal Deasy as co-head of investment banking with a view to grow the business and an eye for succession.And a group of minority shareholders that appealed against the French government's full nationalisation of energy giant EDF dropped the motion on the eve of the hearing.On a thin day for economic data, focus will be on U.K. producer prices and the German IFO.European stock futures dipped 0.3%, indicating a weaker start for markets, while U.S. stock futures shed 0.5%.Revenue at Europe's largest companies is expected to have risen by just 0.9% in the fourth quarter, Refinitiv I/B/E/S data showed on Tuesday.The forecast, which tracks companies listed on the pan-European STOXX 600 benchmark index, represents a drop from last week when analysts expected revenue growth of 4%.Investment strategists at Standard Chartered say it is time to fade the rally seen in European stocks and the euro since the lows of September.They say an unusually warm winter has allayed fears of wide-spread energy shortages and rationing in Europe. China's economic reopening has been another tailwind for European exporters' prospects.But they outlined many challenges for European equities, including stretched technicals and an increasingly hawkish central bank policy.Meanwhile, Microsoft kicked off the U.S. tech season with a sobering outlook and forecast that third-quarter revenue in its cloud business would come just shy of market forecasts.The 2% increase in the last quarter's revenue, the slowest in more than five years, signalled tougher times for tech companies just as Apple and Google-parent Alphabet are due to report earnings next week.Key developments that could influence markets on Wednesday: Economic data: U.K. December producer prices, Germany January IfoEuropean results: Christian Dior U.S. results: IBM, AT&T, Boeing, Whirlpool (Reporting by Anshuman Daga; Editing by Christopher Cushing) \ No newline at end of file diff --git a/news/GOOGL/2023.01.25/Microsoft's dour outlook raises red flags for tech sector.txt b/news/GOOGL/2023.01.25/Microsoft's dour outlook raises red flags for tech sector.txt new file mode 100644 index 0000000000000000000000000000000000000000..0e9b4efc2f021805892d09871a1465e381b4aeb7 --- /dev/null +++ b/news/GOOGL/2023.01.25/Microsoft's dour outlook raises red flags for tech sector.txt @@ -0,0 +1 @@ +(Reuters) - Microsoft Corp's lackluster quarterly outlook points to more gloom ahead for the tech sector, analysts said, after the tech bellwether warned its customers were cautious about spending in a turbulent economy.   Microsoft, the second most valuable U.S. company, sounded a cautious note in its quarterly earnings report as a steep fall in client spending has sparked a series of high-profile layoffs in the tech industry.The company's Chief Executive Officer, Satya Nadella, and other Microsoft executives used the words "caution" and "cautious" at least six times on the one hour call on Tuesday. "Microsoft is the biggest bellwether for enterprise and cloud spending in the world. Nadella's comments about slowdown in the cloud is not surprising... It confirms a darker macro is in the horizon," said Dan Ives, analyst at Wedbush. "This is going to be a trend we see across the tech space, with management teams being conservative given the uncertain environment," Ives added.Nadella, however, said Microsoft would focus on AI technology, calling it the next major wave of computing.The tech giant has made multibillion dollar investments in OpenAI, deepening ties with the startup behind the chatbot sensation ChatGPT and building on a bet it made on AI four years ago.Analysts said the sharp slowdown in Microsoft's revenue growth was a "warning sign" for the tech sector, with more weakness at its PC division than the cloud business.  "What we learned is that no one is immune to macro... what is telling is the quarter was largely fine, but we started to see softness in December and the outlook for this quarter was worse than expected," said Rishi Jaluria, analyst at RBC. Microsoft forecast third-quarter revenue in its so-called intelligent cloud business a tad below analysts' estimates, with a growth rate of as much as 19%. It did, however, report better-than-expected second-quarter revenue for that segment, which initially pushed shares higher on Tuesday evening.Companies from Amazon.com Inc to Facebook-parent Meta Platforms are already preparing for tougher months ahead by slashing tens of thousands of jobs to keep their cash reserves high.Analysts expect the cash to be used for other investments, which could include fresh buybacks, mergers and acquisitions or new technology such as artificial intelligence.Microsoft's shares were down about 3% in pre-market trading on Wednesday. Shares of cloud companies including Alphabet Inc's Google, Amazon.com, Salesforce, Cisco and Workday Inc all declined.  (Reporting by Nivedita Balu and Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri)By Nivedita Balu and Tiyashi Datta \ No newline at end of file diff --git a/news/GOOGL/2023.01.25/Nasdaq futures drop 1% after Microsoft's bleak outlook.txt b/news/GOOGL/2023.01.25/Nasdaq futures drop 1% after Microsoft's bleak outlook.txt new file mode 100644 index 0000000000000000000000000000000000000000..0b02fbc299950538120455b2c9202495bbb824b1 --- /dev/null +++ b/news/GOOGL/2023.01.25/Nasdaq futures drop 1% after Microsoft's bleak outlook.txt @@ -0,0 +1 @@ +Microsoft Corp shares fell 2.1% in premarket trading after it warned that growth in its cloud business, which helped the company meet analysts' expectations in the second quarter, could stall, while its PC unit continues to struggle. Other large growth stocks including Amazon.com Inc, Tesla Inc, Apple Inc and Alphabet Inc also dropped between 1% and 2%. Growth stocks have enjoyed a bounce in January after a battering last year, with investors now focused on earnings reports to assess the impact of the Federal Reserve's rate hikes and to gauge whether the renewed enthusiasm for such stocks will be sustained."Microsoft is dealing with a marked slowdown in personal computing revenues, which reflects the incredibly challenging consumer environment," Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown wrote in a client note. "Despite renewed hope that interest rate hikes might be slowed and peak inflation coming into view, buying a new laptop and the software that comes with it is simply not a priority for many people right now." Microsoft was also hit with a networking outage that disrupted its cloud platform, Azure, along with services such as Teams and Outlook, potentially affecting millions of users globally. At 5:30 a.m. ET, Dow e-minis were down 215 points, or 0.64%, S&P 500 e-minis were down 31.75 points, or 0.79%, and Nasdaq 100 e-minis were down 140.25 points, or 1.18%. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOGL/2023.01.25/Prosus, Naspers cutting 30% of jobs at corporate offices.txt b/news/GOOGL/2023.01.25/Prosus, Naspers cutting 30% of jobs at corporate offices.txt new file mode 100644 index 0000000000000000000000000000000000000000..e898e27aa6bda1a8bae7d246a6dbfd753dc96e14 --- /dev/null +++ b/news/GOOGL/2023.01.25/Prosus, Naspers cutting 30% of jobs at corporate offices.txt @@ -0,0 +1 @@ +The companies are the latest major technology-based firms to make layoffs, after Google parent Alphabet's big cuts announced last week."We are adapting to a changing macro environment and have been working for some time to strengthen our cost structures," a Prosus spokesperson said in a statement on Wednesday.Prosus and Naspers have around 15 corporate offices around the world, with the largest ones in Johannesburg and Amsterdam. "Today we are announcing a reduction of some roles as we realign our efforts on specific areas and reduce our cost base."Prosus/Naspers have around 30,000 employees but most are employed at companies in their investment portfolio. There is no figure available for the number employed at corporate offices located around the globe, a spokesperson said.Prosus owns and operates some of the companies it invests in, including Brazilian meal delivery giant iFood and online classifieds marketplace OLX.It also owns minority stakes in dozens of companies such as Delivery Hero.Those companies are making their own decisions on staffing, the spokesperson said, on differing time frames.There was no schedule for the cuts to the corporate offices. (Reporting by Toby Sterling; Editing by Jane Merriman and Alexander Smith) \ No newline at end of file diff --git a/news/GOOGL/2023.01.25/Tech firms, Wall Street lead job cuts in corporate America.txt b/news/GOOGL/2023.01.25/Tech firms, Wall Street lead job cuts in corporate America.txt new file mode 100644 index 0000000000000000000000000000000000000000..fd890bcdb7d35647563c0cadfba7f359ee7178e2 --- /dev/null +++ b/news/GOOGL/2023.01.25/Tech firms, Wall Street lead job cuts in corporate America.txt @@ -0,0 +1,85 @@ +Feb 27 (Reuters) - Big Tech firms and Wall Street titans +are leading a string of layoffs across corporate America as +companies look to rein in costs to ride out a global economic +downturn.Rapid interest rate hikes and weak consumer demand have +forced firms such as Amazon, Walt Disney, Facebook-owner Meta +and American banks to trim their workforce.Tech companies shed more than 150,000 workers in 2022 amid a +rapidly fading pandemic-led demand boom, according to tracking +site Layoffs.fyi, and more layoffs are expected as growth in the +world's biggest economies slows.Here are some of the job cuts by major American companies +announced in recent weeks.TECHNOLOGY, MEDIA AND TELECOM SECTORIBM Corp:The software and consulting firm said it will lay off 3,900 +employees.Spotify Technology SA:Music streaming service Spotify is cutting 6% of its +workforce, or roughly 600 roles.Alphabet Inc:Alphabet Inc is eliminating 12,000 jobs, its chief executive +said in a staff memo.Microsoft Corp:The U.S. tech giant said it would cut 10,000 jobs by the end +of the third quarter of fiscal 2023.The company laid off under 1,000 employees across several +divisions in October, Axios reported, citing a source.Amazon.com Inc:The e-commerce giant said company-wide layoffs would impact +over 18,000 employees.Meta Platforms Inc:The Facebook-parent said it would cut 13% of its workforce, +or more than 11,000 employees, as it grapples with a weak +advertising market and mounting costs.Intel Corp:CEO Pat Gelsinger told Reuters "people actions" would be +part of a cost-reduction plan. The chipmaker said it would +reduce costs by $3 billion in 2023.Twitter Inc:The social media company has laid off at least 200 +employees, or about 10% of its workforce, the New York Times +reported. The layoffs come after Twitter terminated about 3,700 +people, representing about half of the total staff, in November, +soon after Elon Musk took over the firm.Lyft Inc:The ride-hailing firm said it would lay off 13% of its +workforce, or about 683 employees, after it already cut 60 jobs +earlier this year and froze hiring in September.Salesforce Inc:The software company said it would lay off about 10% of its +employees and close some offices as a part of its restructuring +plan, citing a challenging economy.Cisco Systems Inc:The networking and collaboration solutions company said it +will undertake restructuring which could impact roughly 5% of +its workforce. The effort will begin in the second quarter of +the fiscal year 2023 and cost the company $600 million.HP Inc:The computing devices maker said it expected to cut up to +6,000 jobs by the end of fiscal 2025.Workday Inc:The software company will cut roughly 500 jobs, or 3% of its +workforce, citing a challenging macroeconomic environment.NetApp Inc:The cloud firm announced an 8% reduction in its global +workforce. The company had 12,000 employees as of April 29, +2022.Rivian Automotive Inc:The company is laying off 6% of its workforce in an effort +to cut costs as the EV maker, already grappling with falling +cash reserves and a weak economy, braces for an industry-wide +price war.Match Group:The Tinder parent said it would lay off about 8% of its +workforce, a day after it forecast first-quarter revenue below +Wall Street expectations.Dell Technologies Inc:The company will eliminate about 6,650 jobs, or 5% of its +global workforce, as the PC maker grapples with falling demand +and braces for economic uncertainty.Palantir Technologies Inc:The data analytics firm said it had cut about 2% of its +workforce. Palantir, known for its work with the U.S. Central +Intelligence Agency, had 3,838 full-time employees as of Dec. +31, 2022.FINANCIAL SECTORGoldman Sachs Group Inc:Goldman Sachs began laying off staff on Jan. 11 in a +sweeping cost-cutting drive, with around a third of those +affected coming from the investment banking and global markets +division, a source familiar with the matter told Reuters.The job cuts are expected to be just over 3,000, one of the +sources said on Jan. 9, in what would be the biggest workforce +reduction for the bank since the financial crisis.Morgan Stanley:The Wall Street powerhouse is expected to start a fresh +round of layoffs globally in the coming weeks, Reuters reported +on Nov. 3, as dealmaking business takes a hit.Citigroup Inc:The bank eliminated dozens of jobs across its investment +banking division, as a dealmaking slump continues to weigh on +Wall Street's biggest banks, Bloomberg News reported.BlackRock Inc:The asset manager is cutting up to 500 jobs, Insider +reported, citing a memo.Genesis:The cryptocurrency firm has cut 30% of its workforce in a +second round of layoffs in less than six months, a person +familiar with the matter told Reuters.Coinbase Global:The cryptocurrency exchange said it would slash nearly 950 +jobs, the third round of workforce reduction in less than a year +after cryptocurrencies, already squeezed by rising interest +rates, came under renewed pressure following the collapse of +major exchange FTX.Stripe Inc:The digital payments firm is cutting its headcount by about +14% and will have about 7,000 employees after the layoffs, +according to an email to employees from the company's founders.CONSUMER AND RETAIL SECTORBeyond Meat Inc:The vegan meat maker said it plans to cut 200 jobs this +year, with the layoffs expected to save about $39 million.Blue Apron Holdings Inc:The online meal-kit company said it will cut about 10% of +its corporate workforce, as it looks to reduce costs and +streamline operations. The company had about 1,657 full-time +employees, as of Sept. 30.DoorDash Inc:The food delivery firm, which enjoyed a growth surge during +the pandemic, said it was reducing its corporate headcount by +about 1,250 employees.Bed Bath & Beyond:The retailer will lay off more employees this year in an +attempt to reduce costs. Last year, company executives had said +the home goods retailer was cutting about 20% of its corporate +and supply chain workforce.ENERGY AND RESOURCES SECTORDow Inc:The U.S. chemicals maker said it would cut about 2,000 jobs +as it navigates challenges including inflation and supply chain +disruptions.Phillips 66:The refiner reduced employee headcount by over 1,100 as it +seeks to meet its 2022 cost savings target of $500 million. The +reductions were communicated to employees in late October.HEALTH AND PHARMACEUTICAL SECTORJohnson & Johnson:The pharmaceutical giant has said it might cut some jobs +amid inflationary pressure and a strong dollar, with CFO Joseph +Wolk saying the healthcare conglomerate is looking at "right +sizing" itself.MANUFACTURING SECTOR3M Co:The industrial conglomerate said it would cut 2,500 +manufacturing jobs after reporting a lower profit. +(Reporting by Deborah Sophia in Bengaluru; Additional reporting +by Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik, +Sourasis Bose, Priyamvada C, Tiyashi Datta and Manya Saini; +Editing by Shinjini Ganguli, Shounak Dasgupta, Sriraj Kalluvila, +Vinay Dwivedi, Sonia Cheema and Maju Samuel) \ No newline at end of file diff --git a/news/GOOGL/2023.01.25/Wall St falls as Microsoft outlook dents tech stocks, earnings disappoint.txt b/news/GOOGL/2023.01.25/Wall St falls as Microsoft outlook dents tech stocks, earnings disappoint.txt new file mode 100644 index 0000000000000000000000000000000000000000..7f33cca16cd022dd399c3581f968f9b9ecaa3da2 --- /dev/null +++ b/news/GOOGL/2023.01.25/Wall St falls as Microsoft outlook dents tech stocks, earnings disappoint.txt @@ -0,0 +1,46 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Microsoft falls on dismal Q3 cloud outlook*Salesforce, Amazon, other cloud-based stocks drop*Boeing slides after missing Q4 revenue estimates*Indexes down: Nasdaq 1.2%, S&P 0.9%, Dow 0.6%Jan 25 (Reuters) - Wall Street benchmarks dropped on +Wednesday as a decline in technology stocks after Microsoft's +downbeat forecast and a bleak quarterly report from Boeing +fanned fears of a recession.Shares of Microsoft Corp fell 1.2% after it warned +that growth in its lucrative cloud business could stall, while +its PC unit continues to struggle.Amazon.com Inc, Salesforce Inc and +ServiceNow Inc, which have large cloud businesses, fell +about 1% each. The S&P 500 technology index shed 1.3%.Other major growth stocks, including Apple Inc, +Alphabet Inc and Tesla Inc, also dropped +between 0.4% and 3%.Growth stocks, however, have enjoyed a bounce in January +after a battering last year, with investors now focused on +earnings reports to assess the impact of the Federal Reserve's +rate hikes and to gauge whether the renewed enthusiasm for these +stocks will be sustained."One of the most resilient sectors in the economy (tech) is +starting to feel the softness coming through," said Larry Adam, +chief investment officer at Raymond James."Microsoft particularly talked about December - and that's +another shot across the bow to the Fed that they make sure they +do not overtighten and send the economy into a more severe +recession than the one we're getting."An overwhelming majority of traders expect the Federal +Reserve to raise interest rates by another 25 basis points in +its meeting next week.They now see the terminal rate peaking at 4.91% in June, +even as Fed policymakers have repeatedly backed taking rates +above the 5% level.Data later in the week is likely to show December personal +consumption expenditure index (PCE) fell 0.1% from a 0.1% rise +in the prior month. Fourth quarter GDP advance numbers are also +awaited.Dow Jones Industrial Average constituent, Boeing Co +slipped 1.2% as the planemaker's losses widened in 2022 +and it missed fourth-quarter revenue estimates.At 12:21 p.m. ET, the Dow was down 208.76 points, or 0.62%, +at 33,525.20, the S&P 500 was down 34.45 points, or +0.86%, at 3,982.50, and the Nasdaq Composite was down +139.09 points, or 1.23%, at 11,195.19.Abbott Laboratories fell 1.9%, weighed down by +lower-than-expected medical device sales in the fourth quarter.In a bright spot, AT&T Inc jumped 5.4% on +higher-than-expected quarterly subscriber additions, while +Textron Inc added 0.9% as its revenue beat estimates.News Corp jumped 6.1%, leading gains on the S&P +500, after Rupert Murdoch withdrew a proposal to reunite News +Corp and Fox Corp.Meanwhile, the New York Stock Exchange said a manual error +triggered a technical issue on Tuesday, preventing the opening +auctions in some listed stocks, leading to widespread confusion +and attracting a review from the U.S. Securities and Exchange +Commission.Declining issues outnumbered advancers for a 2.20-to-1 ratio +on the NYSE and for a 1.92-to-1 ratio on the Nasdaq.The S&P index recorded two new 52-week highs and one new +low, while the Nasdaq recorded 45 new highs and 25 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Additional reporting by Medha Singh; Editing by Vinay +Dwivedi and Anil D'Silva) \ No newline at end of file diff --git "a/news/GOOGL/2023.01.25/Wall Street heavyweights warn of pain ahead despite market\342\200\231s recent reprieve.txt" "b/news/GOOGL/2023.01.25/Wall Street heavyweights warn of pain ahead despite market\342\200\231s recent reprieve.txt" new file mode 100644 index 0000000000000000000000000000000000000000..8558c435c45ab92ea09ab23b8884c06080d6d2c1 --- /dev/null +++ "b/news/GOOGL/2023.01.25/Wall Street heavyweights warn of pain ahead despite market\342\200\231s recent reprieve.txt" @@ -0,0 +1,64 @@ +NEW YORK, Jan 25 (Reuters) -Some of Wall Street’s biggest names are throwing cold water +on expectations that the U.S. economy will scrape through 2023 +without a recession, even as hopes of easing inflation and +resilient growth propel stocks higher.Banks and asset managers that have reiterated recession +calls include BlackRock, Wells Fargo and Neuberger Berman, with +many warning the Federal Reserve is unlikely to force inflation +lower without hurting economic growth.The warnings contrast with signs of optimism in markets. The +S&P 500 has jumped more than 4% so far in 2023, fueled in part +by bets that inflation will continue to slow, allowing the Fed +to soon pull back from the rate increases that shook markets +last year. The tech-heavy Nasdaq 100 is up more than 7%.“Money is dying to get back into this market but we still +think you get an economic slowdown and that earnings +expectations are still too high,” said Paul Christopher, head of +global investment strategy at the Wells Fargo Investment +Institute.Correctly gauging the economy is crucial for investors. +Stocks tend to perform poorly in economic downturns, with the +S&P 500 falling an average of 29% during recessions since World +War Two, according to Truist Advisory Services.While recessions are called in hindsight, investors have +said that still-robust job growth makes it unlikely that one has +already started.Many strategists are focused on the Fed, pointing to years +of market history that suggests the central bank's rapid rate +hikes will eventually force unemployment higher and tip the +economy into a recession.The Fed last year raised its benchmark rate to between 4.25% +and 4.50% from zero and is widely expected to increase it by +another 25 basis points at the conclusion of its Feb. 1 meeting.Policymakers have projected their key policy rate would top +out at between 5.00% and 5.25% this year. Market pricing +indicates investors are taking a more dovish view, with the rate +peaking below 5% around mid-June before falling in the second +half of the year.The latter outlook is not shared by BoFA’s strategists, who +recommended positions that would benefit from a “grind lower” in +U.S. equities, noting that Fed "cutting cycles in history have +almost exclusively been associated with either a recession ... +or a financial accident," they said.Charlie McElligott, managing director of cross-asset +strategy of Nomura Securities, believes the current rise in +stocks is partially driven by under-positioned investors fearful +of missing a longer-term shift to the upside, a dynamic that +fueled several rallies last year.Those rebounds inevitably crumbled, leaving the S&P 500 with +a 19.4% annual loss, its worst since 2008. The most recent rally +has lifted the S&P 500 more than 11% from its October lows."You are now getting the disinflationary impulse that the +Fed has been seeking and it's moving ahead of schedule," he +said. "Now the challenge is that people are under-positioned and +are ... absolutely being forced into a painful trade because the +Fed hasn't won the fight yet."The current stock rally “hints at how markets will likely +react once inflation eases and rate hikes pause,” wrote analysts +at BlackRock, the world’s largest asset manager, earlier this +week. “Before this outlook becomes reality, we see (developed +market) stocks falling when recessions we expect manifest.”Neuberger Berman sees the S&P 500 dropping to as low as +3,000 this year - a decline of nearly 25% from its current level +- as rebounding inflation forces the Fed to become more +aggressive."You need that kind of decline in stock prices to neutralize +the wealth effect that is the source of inflation," said Raheel +Siddiqui, a senior research analyst in the firm's global equity +research division.Of course, plenty of investors are taking banks' forecasts +with a grain of salt.Burns McKinney, a portfolio manager at NFJ Investment Group, +noted that most banks failed to predict the inflationary surge +that forced the Fed to ratchet up rates. Strategists polled by +Reuters at the end of 2021 saw the S&P 500 gaining a median of +7.5% last year.McKinney expects any recession to be a shallow one, and +is moving into industrial stocks and technology firms that are +poised to benefit from slowing inflation.“Stocks aren’t terribly cheap and they are not terribly +expensive either,” he said. “There’s a lot of ways to describe +Goldilocks but the market is priced just about right.”(Reporting by David Randall, additional reporting by Lewis +Krauskopf and Saqib Iqbal Ahmed, Editing by Ira Iosebashvili and +Deepa Babington) \ No newline at end of file diff --git a/news/GOOGL/2023.01.26/Software giant SAP to cut 3,000 jobs.txt b/news/GOOGL/2023.01.26/Software giant SAP to cut 3,000 jobs.txt new file mode 100644 index 0000000000000000000000000000000000000000..8ebd6c3ec506e2866d77bec36eee2defc4a3137c --- /dev/null +++ b/news/GOOGL/2023.01.26/Software giant SAP to cut 3,000 jobs.txt @@ -0,0 +1 @@ +Software giant SAP said it planned to cut 3,000 jobs - or 2.5% of its global workforce.The German firm follows Microsoft, Amazon and Alphabet's Google in announcing huge layoffs. It also comes a day after IBM said it would shed 3,900 jobs. The U.S. giants all blamed tougher economic conditions.SAP wants to cut costs and focus on its cloud business.It has also explored a sale of its 71% stake in survey-software seller Qualtrics.The firm has a current market valuation of $7 billion.That's well down on the $21 billion value Qualtrics had when it went public two years ago.The layoffs come despite SAP reporting a 30% rise in revenue at its cloud business in the fourth quarter.It has forecast core operating profit of up to $9.7 billion for this year, and expects cloud revenue to reach around $17 billion.Shares in the firm were down over 3% in early trade. \ No newline at end of file diff --git a/news/GOOGL/2023.01.26/U.S. lawsuit against Google could benefit Apple and others.txt b/news/GOOGL/2023.01.26/U.S. lawsuit against Google could benefit Apple and others.txt new file mode 100644 index 0000000000000000000000000000000000000000..0467c71433f28801e43419656efcc461deadb6f1 --- /dev/null +++ b/news/GOOGL/2023.01.26/U.S. lawsuit against Google could benefit Apple and others.txt @@ -0,0 +1 @@ +The Justice Department's complaint against Google on Tuesday called for the company to divest Google Ad Manager, a suite of tools including one that lets websites put ad space up for a sale and another that served as an ad marketplace that automatically matched advertisers with those publishers. If the Justice Department lawsuit succeeds, "advertisers and publishers could have more leverage with more options with expanding players - and consequently more competition," said Neil Begley of Moody's Investors Service.Apple Inc, which is steadily growing its nascent advertising business and promoting it as privacy-focused, could be a winner if Google ads become less effective, said Brian Mandelbaum, chief executive of marketing firm Attain.Ad industry executives say Google's business in placing ads on websites it does not own gives Google valuable information on an ad's effectiveness. Apple has "an ability to be a new dominant force," in advertising because Apple has data through its ownership of phones, its Safari web browser and the distribution of apps through the App Store, he said. Google's competitors in ad tech are increasingly creating products that serve both the publishers like news websites, which sell ad space, and advertisers who buy ads, like Google currently does, said Paul Bannister, chief strategy officer at CafeMedia, which helps small and medium-sized publishers sell ad space. If Google is forced to divest the tools that serve publishers, it would benefit competitors like Xandr, which is owned by Microsoft, that will still work with both sides of the ad-buying ecosystem, Bannister said. With more options besides Google, publishers will have more transparency over how much they can sell ad space for, and could end up paying less in fees, Mandelbaum said. If successful, the lawsuit could be "the beginning of serious business model changes for Google," said Paul Gallant, managing director at Cowen Washington Research Group. The divested assets could result in Google losing key data that helps target ads to relevant consumers, he said. If Google loses access to data signals, advertisers could see their Google ads become less effective, said Nikhil Lai, senior analyst at research firm Forrester. At least twice before, the government has filed lawsuits against dominant companies with far-reaching results. A lawsuit breaking up AT&T, filed in 1974, resulted in an agreement in 1982 to break up the company. That breakup has been credited with a host of innovations in telephony.The Justice Department's lawsuit against Microsoft, filed in 1998, reined in the company at a time when it was seeking to extend its dominant operating system to the internet browser. While the lawsuit settled, the fight is credited with opening the way for other internet innovators, like Google itself. (Reporting by Sheila Dang and Diane Bartz; Editing by Nick Zieminski)By Sheila Dang and Diane Bartz \ No newline at end of file diff --git a/news/GOOGL/2023.01.27/Analysis-Google faces greater threat of forced ad unit sale from U.S. lawsuit.txt b/news/GOOGL/2023.01.27/Analysis-Google faces greater threat of forced ad unit sale from U.S. lawsuit.txt new file mode 100644 index 0000000000000000000000000000000000000000..26ecec3ef119edea1d159d164bdf5f14094ecaea --- /dev/null +++ b/news/GOOGL/2023.01.27/Analysis-Google faces greater threat of forced ad unit sale from U.S. lawsuit.txt @@ -0,0 +1 @@ +The complaint filed Tuesday in a Virginia federal court by the U.S. Department of Justice Antitrust Division attempts to compel Google to sell part of its advertising technology unit. The suit mirrors allegations in another antitrust case brought against Google in New York federal court by a Texas-led coalition of 17 states in 2020. Both suits accuse the Alphabet Inc-owned company of abusing its dominance in online advertising, which Google has vigorously denied. A court would be more likely to order structural changes in a company with nationwide impact if the U.S. government were making the argument, not just a group of states, the experts said. "To the extent that any federal court is going to be in the business of breaking up Google, it's going to be a lot more comfortable doing that if the plaintiff is the federal government," said Vanderbilt University law professor Rebecca Haw Allensworth.Still, Allensworth and other experts were skeptical that a court would force the sale of a business unit at a company as large and central to the economy as Google. Google's ad-tech business accounted for roughly 12% of the company's revenue in 2021 and plays a vital role in its overall sales. In the states' case, a New York federal judge in September rejected Google's bid to dismiss it entirely. But the court disallowed some of the claims, including allegations that the company struck an illegal cooperation agreement with Facebook parent company Meta Platforms Inc.The states' suit asks for any remedies the court deems appropriate, and Texas Attorney General Ken Paxton has said all possible punishments are on the table. The Justice Department's suit seeks at minimum the sale of Google's ad manager suite, among other things. The federal "complaint has a degree of specificity that the other Google complaint does not," New York University law professor Harry First said. "That indicates to me that they are very serious about actually changing the structure of Google's ad tech business." The Texas Attorney General's Office did not respond to a request for comment while the Justice Department declined to comment. Google did not immediately respond to a request for comment. States periodically sue companies for alleged violations of antitrust law, but the federal government sometimes either intervenes directly or files its own suit to assert its nationwide perspective. Legal experts said that while judges don't always defer to the federal government when it steps into state antitrust disputes, the opinions of the DOJ and U.S. Federal Trade Commission can factor heavily in their decisions. For example, after New York and 12 other states sued to block the merger of wireless carriers T-Mobile and Sprint in 2019, the U.S. government argued the deal should go forward because it would improve wireless coverage in rural areas.In that case, the DOJ urged the court to give weight to its "uniform, nationwide perspective" and deny the states' request for an injunction blocking the deal. The court agreed, and the merger later went through with certain conditions in a separate settlement brokered by the Justice Department. "If the ultimate goal is to change the structure of the company, the federal government is in a much stronger position," Syracuse University law professor Shubha Ghosh said.Google also faces two largely parallel antitrust lawsuits by states and the federal government alleging unlawful dominance in online searching. The company has denied those allegations as well. (Reporting by Jack Queen and Mike Scarcella; editing by Amy Stevens and Cynthia Osterman)By Jack Queen and Mike Scarcella \ No newline at end of file diff --git a/news/GOOGL/2023.01.27/Australia regulator to probe social media influencers for false endorsements.txt b/news/GOOGL/2023.01.27/Australia regulator to probe social media influencers for false endorsements.txt new file mode 100644 index 0000000000000000000000000000000000000000..bb02032b56906c6967771d9c79f7b54b2e0ea95f --- /dev/null +++ b/news/GOOGL/2023.01.27/Australia regulator to probe social media influencers for false endorsements.txt @@ -0,0 +1 @@ +The Australian Competition and Consumer Commission (ACCC) said it would look at more than 100 influencers after several consumers informed the regulator about some endorsements and testimonials which they said were misleading."The number of tip-offs reflects the community concern about the ever-increasing number of manipulative marketing techniques on social media, designed to exploit or pressure consumers into purchasing goods or services," ACCC Chair Gina Cass-Gottlieb said in a statement.As part of the sweep, ACCC has begun reviewing Meta Platforms Inc's Facebook and Instagram, TikTok, Snap Inc's Snapchat, Alphabet Inc's YouTube and Amazon.com Inc's streaming service Twitch, Cass-Gottlieb said.The probe will target influencers in fashion, cosmetics, food and beverage, travel, fitness, parenting, gaming and technology. It will also check if advertisers, marketers, brands and social media platforms are facilitating any misconduct.Individuals who breach Australian consumer laws could be fined up to A$2.5 million ($1.78 million). The ACCC has been conducting a series of investigations as part of a broader Digital Platform Services Inquiry, focused on the provision of social media services, including sponsored posts and influencer advertising on social media platforms. It is expected to submit its sixth interim report by March 31. ($1 = 1.4053 Australian dollars) (Reporting by Renju Jose; Editing by Simon Cameron-Moore) \ No newline at end of file diff --git a/news/GOOGL/2023.01.27/Russia blocks CIA, FBI websites for 'spreading false information' - TASS.txt b/news/GOOGL/2023.01.27/Russia blocks CIA, FBI websites for 'spreading false information' - TASS.txt new file mode 100644 index 0000000000000000000000000000000000000000..836aa81b1cdd3d06e18371e7146b5b878db41723 --- /dev/null +++ b/news/GOOGL/2023.01.27/Russia blocks CIA, FBI websites for 'spreading false information' - TASS.txt @@ -0,0 +1 @@ +"Roskomnadzor has restricted access to a number of resources belonging to state structures of hostile countries for disseminating material aimed at destabilising the social and political situation in Russia," Roskomnadzor said in a statement carried by Russian news agencies. TASS quoted Roskomnadzor as saying that the two U.S. websites had published inaccurate material and information that had discredited the Russian armed forces. Representatives for the FBI, CIA and State Department did not immediately respond to a request for comment. Roskomnadzor also did not respond to a request for comment. Russia has made it a criminal offence to discredit its armed forces, a crime punishable by up to five years in jail, while knowingly distributing "false information" about the military carries a maximum sentence of 15 years.Since Russia sent tens of thousands of troops into Ukraine in February last year, Roskomnadzor has blocked a host of independent media outlets, some foreign news websites and social media platforms including Facebook, Instagram and Twitter. Top10VPN, a monitoring firm that has been tracking websites blocked in Russia since Moscow sent tens of thousands of troops into Ukraine on Feb. 24 last year, said Roskomnadzor has blocked over 4,300 domains, with more than 85% of those relating to Ukrainian, Russian and international news sites."Russian censors have previously blocked a handful of Ukraine's government websites but with the restrictions on the FBI and CIA websites, this is the first time they have prevented Russians from accessing other international government websites," Simon Migliano, Head of Research at Top10VPN.com, told Reuters."Aside from the big social media platforms, only a handful of major U.S. sites have been restricted, such as NPR, Google News and AOL, which makes the timing of these latest restrictions even more intriguing." (Reporting by ReutersEditing by Andrew Osborn and Gareth Jones) \ No newline at end of file diff --git a/news/GOOGL/2023.01.27/Take Five: Goldilocks and the three bears.txt b/news/GOOGL/2023.01.27/Take Five: Goldilocks and the three bears.txt new file mode 100644 index 0000000000000000000000000000000000000000..c48a8d6e8284274a6813126d25fb85878c489f5c --- /dev/null +++ b/news/GOOGL/2023.01.27/Take Five: Goldilocks and the three bears.txt @@ -0,0 +1 @@ +But the story three of the world's largest central banks, set to hold their first policy meetings of 2023, tell isn't that of a "Goldilocks" scenario of a gentle slowdown in growth and a gradual easing in inflation. Here's a look at the week ahead in markets from Kevin Buckland in Tokyo, Dhara Ranasinghe and Naomi Rovnik in London and Ira Iosebashvili and Lewis Krauskopf in New York.1/WILL THE FED FOLD?Will the Federal Reserve tone down its hawkish rhetoric in the face of cooling inflation or stick to its guns? Investors widely expect a 25-basis point rate increase at the Feb. 1 meeting and for rates to stop short of hitting 5%.Fed officials, however, have indicated they expect the key policy rate to top out at 5.00-5.25% this year.Whatever signals the Fed sends could play an importing role in determining the longevity of the rally so far this year. Dollar bears, meanwhile, will watch for dovish leanings that could further accelerate a decline in the greenback. The currency has tumbled nearly 11% since hitting multi-decade highs last September. GRAPHIC - Summer peakhttps://www.reuters.com/graphics/GLOBAL-MARKETS/xmvjklalzpr/chart.png2/ BACK FROM BREAK Chinese markets are back from the week-long Lunar New Year holidays, and will look to pick up where they left off - at a five-month peak for mainland blue chips. The mood should stay bullish after officials said COVID deaths have dropped about 80% from the peak earlier this month, running counter to worries that the New Year travel rush would trigger a fresh wave of infections. Some experts even suggest that the surge in cases after the government abruptly reversed its zero-COVID policies last month has resulted in hyper-speedy herd immunity. The impact of China's Great Reopening may show up in PMIs next Tuesday, with the services sector bouncing back to expansion. Manufacturing is likely still contracting, but that has a lot to do with the timing of the New Year holiday, and next month should see a strong rebound.GRAPHIC - China's convalescent business activityhttps://www.reuters.com/graphics/CHINA-ECONOMY/PMI/gdpzqwozmvw/china-pmi-2022.jpg3/ YOUR MOVE, ECBThe ECB meets Thursday and is widely tipped to raise rates by 50 bps to 2.5%. Markets care most about what happens next and that's not clear. Policy hawks are already pushing for more of the same in March. After all, inflation is well above the 2% target as preliminary January data out on Wednesday is likely to show.Futures price in a further 100 bps worth of tightening between now and July. Amundi reckons ECB rates could reach 4%.But the doves are getting louder. Yes, inflation is high but it's off record peaks, they say. So, caution is needed before pre-commiting to rate hikes beyond February.Markets, whipped around by the differing opinions, will be looking for the ECB to speak with one voice. That, at least, is the hope. GRAPHIC - ECB expected to hike againhttps://www.reuters.com/graphics/GLOBAL-CENTRALBANKS/zjvqjebzqpx/chart.png4/THE "A" TEAM The three "A's" -- Apple, Amazon and Alphabet - three of the top four U.S. companies by market value - all report earnings on Thursday.Over 100 companies in the S&P 500 deliver results as the earnings season gets into full swing. Microsoft, the fourth of the U.S. megacaps, has already reported results. Its cloud business hit Wall Street targets, but it delivered a lacklustre forecast that offered little cheer to the broader tech sector. Tech companies generally are under pressure to grow while cutting costs ahead of a potential recession. S&P 500 earnings are set to have fallen 2.9% from the year-ago period, according to Refinitiv IBES data as of Tuesday. GRAPHIC - Big tech's earnings growth put to the testhttps://www.reuters.com/graphics/GLOBAL-MARKETS/mypmogzgmpr/chart.png 5/THE END MAY BE NIGH The Bank of England, the first of the major central banks to turn hawkish, is expected to deliver its tenth rate hike since December 2021. Money markets predict the BoE will raise rates by 0.5 percentage points to 4%. Headline inflation moderated in December to 10.5%, but it's still over five times the Bank's official target. Deutsche Bank analysts say this will be the BoE's final "forceful" hike. Recent data has shown a sharp contraction in UK business activity and lacklustre Christmas retail sales. Economists polled by Reuters now expect the BoE to stop at 4.25%. But many cited sticky core inflation, which excludes food and energy costs, as the main reason they could be wrong. GRAPHIC - Inflation mixed baghttps://www.reuters.com/graphics/BRITAIN-ECONOMY/jnvwywzdkvw/chart.png (Compiled by Amanda Cooper; Graphics by Sumanta Sen, Pasit Kongkunakornkul and Vincent Flasseur; Editing by Toby Chopra) \ No newline at end of file diff --git a/news/GOOGL/2023.01.27/US STOCKS-Wall Street advances, on course for weekly gains as Fed meeting looms.txt b/news/GOOGL/2023.01.27/US STOCKS-Wall Street advances, on course for weekly gains as Fed meeting looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..c4b4f65ee45fd2b3d46e32035cd5eac21bd8dd65 --- /dev/null +++ b/news/GOOGL/2023.01.27/US STOCKS-Wall Street advances, on course for weekly gains as Fed meeting looms.txt @@ -0,0 +1,49 @@ +(Fixes typo in paragraph 13)*PCE: inflation cools, consumer spending falls*American Express, Visa climb higher*Chevron falls post missing profit estimates*Indexes up: Dow 0.24%, S&P 0.45%, Nasdaq 1.16%NEW YORK, Jan 27 (Reuters) - Wall Street advanced on +Friday, nearing the end of an rocky week in which economic data +and corporate earnings guidance both hinted at softening demand +but also economic resiliency ahead of next week's Federal +Reserve monetary policy meeting.All three major U.S. stock indexes were last green after +see-sawing earlier in the session, with the Nasdaq out front.From last Friday's close, the S&P and the Dow have set a +course for their third weekly gains in four, while the +tech-laden Nasdaq appears set to notch its fourth straight +weekly advance.The Commerce Department's hotly anticipated personal +consumption expenditures (PCE) report arrived largely in line +with consensus, showing softening demand and cooling inflation - +which is exactly what the Federal Reserve's restrictive interest +rate hikes are intended to accomplish."(The PCE report) is welcome news with regards to the Fed’s +mission, but they’re not ready to retreat at this point," said +Matthew Keator, managing partner in the Keator Group, a wealth +management firm in Lenox, Massachusetts. "They will stay focused +on their mission, but the hope is that they will begin to +moderate their hawkish tones."Fed Chair Jerome Powell has clearly stated that the central +bank's battle against decades-high inflation is far from over, +however. Financial markets still believe the central bank will +hike the Fed funds target rate by another 25 basis points at the +conclusion of next week's policy meeting.Fourth-quarter earnings season is running on all cylinders, +with 143 of the companies in the S&P 500 having reported. Of +those, 67.8% have beaten Street expectations, slightly better +than the 66% long-term average, but well below the 76% beat rate +over the past four quarters, according to Refinitiv.Analysts now see aggregate S&P 500 earnings falling 2.9% +year-on-year, compared with the milder 1.6% annual drop seen on +Jan. 1, per Refinitiv.The Dow Jones Industrial Average rose 81.28 points, +or 0.24%, to 34,030.69, the S&P 500 gained 18.1 points, +or 0.45%, to 4,078.53 and the Nasdaq Composite added +133.41 points, or 1.16%, to 11,645.82.Among the 11 major sectors of the S&P 500, consumer +discretionary led the percentage gainers, while energy +suffered the largest percentage losses.Shares of Intel Corp plunged 7.1% after the +chipmaker provided dismal earnings projections.Chevron Corp posted record 2022 profit, but its +fourth quarter earnings fell short of expectations, dragging the +stock down 4.1%.Rival payment companies American Express Co and Visa +Inc reported consensus-beating results, easing worries of +waning consumer demand. Their shares jumped 11.5% and 3.0%, +respectively.Bed Bath & Beyond Inc rose 4.2% in a partial +rebound after plummeting 22.2% on Thursday in the wake of +JPMorgan issuing a loan default notice.Next week, a raft of high profile earnings reports are +expected, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Advancing issues outnumbered declining ones on the NYSE by a +1.54-to-1 ratio; on Nasdaq, a 1.49-to-1 ratio favored advancers.The S&P 500 posted 14 new 52-week highs and no new lows; the +Nasdaq Composite recorded 80 new highs and 29 new lows. +(Reporting by Stephen Culp; Additonal Reporting by Bansari +Mayur Kamdar, Johann M Cherian and Shreyashi Sanyal in +Bengaluru; Editing by Aurora Ellis) \ No newline at end of file diff --git a/news/GOOGL/2023.01.27/Wall Street ends higher, notches weekly gains as Fed meeting looms.txt b/news/GOOGL/2023.01.27/Wall Street ends higher, notches weekly gains as Fed meeting looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..951cf12c05716ac921a5f5d82896a0ba34acf733 --- /dev/null +++ b/news/GOOGL/2023.01.27/Wall Street ends higher, notches weekly gains as Fed meeting looms.txt @@ -0,0 +1,53 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*PCE: inflation cools along with consumer spending*American Express, Visa climb higher on solid demand*Chevron falls after missing profit estimates*Indexes up: Dow 0.08%, S&P 0.25%, Nasdaq 0.95%NEW YORK, Jan 27 (Reuters) - Wall Street advanced on +Friday, marking the end of an rocky week in which economic data +and corporate earnings guidance hinted at softening demand but +also economic resiliency ahead of next week's Federal Reserve +monetary policy meeting.All three major U.S. stock indexes ended the session +green, with the Nasdaq, powered by megacap momentum stocks, +enjoying the biggest gain.From last Friday's close, the S&P and the Dow posted +their third weekly gains in four, while the tech-laden Nasdaq +notched its fourth straight weekly advance.So far in the early weeks of 2023, the Nasdaq has jumped +11%, while the S&P 500 and the Dow have gained 6% and 2.5%, +respectively."It's a nice end to another solid week of what's shaping +up to be a historically strong month," said Ryan Detrick, chief +market strategist at Carson Group in Omaha. "It's a realization +that inflation continues to come down quickly and that is +alleviating a lot of worries regarding the economy."The Commerce Department's hotly anticipated personal +consumption expenditures (PCE) report arrived largely in line +with consensus, showing softening demand and cooling inflation - +which is exactly what the Federal Reserve's restrictive interest +rate hikes are intended to accomplish."(The PCE report) is another building block to the +inflation data we’ve been seeing recently," Detrick added. +"Supply chains continue to open up and improve, opening the door +for the Fed to end its aggressive rate hiking cycle."Fed Chair Jerome Powell has clearly stated that the central +bank's battle against decades-high inflation is far from over, +however. Financial markets still believe the central bank will +hike the Fed funds target rate by another 25 basis points at the +conclusion of next week's policy meeting.Fourth-quarter earnings season is running on all cylinders, +with 143 of the companies in the S&P 500 having reported. Of +those, 67.8% have beaten Street expectations, slightly better +than the 66% long-term average, but well below the 76% beat rate +over the past four quarters, according to Refinitiv.Analysts now see aggregate S&P 500 earnings falling 2.9% +year-on-year, compared with the milder 1.6% annual drop seen on +Jan. 1, per Refinitiv.The Dow Jones Industrial Average rose 28.67 points, +or 0.08%, to 33,978.08, the S&P 500 gained 10.13 points, +or 0.25%, to 4,070.56 and the Nasdaq Composite added +109.30 points, or 0.95%, to 11,621.71.Among the 11 major sectors of the S&P 500, consumer +discretionary led the percentage gainers, while energy +suffered the largest percentage loss, down 2%.Shares of Intel Corp plunged6.4% after the chipmaker provideddismal earnings projections.Chevron Corp posted record 2022 profit, but its +fourth quarter earningsfell short of expectations, dragging the stock down4.4%.Rival payment companies American Express Co and +Visa Inc reported consensus-beating results, easing +worries of waning consumer demand. There shares jumped10.5% and3.0%, respectively.Next week, in addition to the Fed meeting and January +employment data, a string of high profile earnings reports are +on tap, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Advancing issues outnumbered declining ones on the NYSE +by a 1.40-to-1 ratio; on Nasdaq, a 1.34-to-1 ratio favored +advancers.The S&P 500 posted 15 new 52-week highs and no new lows; +the Nasdaq Composite recorded 94 new highs and 32 new lows.Volume on U.S. exchanges was 11.88 billion shares, +compared with the 11.10 billion average over the last 20 trading +days. +(Reporting by Stephen Culp; Additonal Reporting by Bansari +Mayur Kamdar, Johann M Cherian and Shreyashi Sanyal in +Bengaluru; Editing by Aurora Ellis) \ No newline at end of file diff --git a/news/GOOGL/2023.01.29/Asia shares brace for rate hikes, earnings rush.txt b/news/GOOGL/2023.01.29/Asia shares brace for rate hikes, earnings rush.txt new file mode 100644 index 0000000000000000000000000000000000000000..ff041d5c244f79e93aa9ae63c173fd46ceab55cd --- /dev/null +++ b/news/GOOGL/2023.01.29/Asia shares brace for rate hikes, earnings rush.txt @@ -0,0 +1 @@ +Earnings from a who's who of tech giants will also test the mettle of Wall Street bulls, who are looking to propel the Nasdaq to its best January since 2001.Asia has been no slouch either as China's swift reopening bolsters the economic outlook, with MSCI's broadest index of Asia-Pacific shares outside Japan up 11% in January at a nine-month high. Early Monday, the index was up 0.1% as investors looked forward to China's market resuming after the Lunar New Year holidays, while Japan's Nikkei added 0.2%. S&P 500 futures and Nasdaq futures both eased 0.1%.Investors are confident the Federal Reserve will raise rates by 25 basis points on Wednesday, followed the day after by half-point hikes from the Bank of England and European Central Bank, and any deviation from that script would be a real shock.Just as important will be the guidance on future policy with analysts expecting a hawkish message of inflation is not yet beaten and more needs to be done."With U.S. labor markets still tight, core inflation elevated, and financial conditions easing, Fed Chair Powell's tone will be hawkish, stressing that a downshifting to a 25bp hike doesn't mean a pause is coming," said Bruce Kasman, chief economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against market pricing of rate cuts later this year." There is a lot of pushing to do given futures currently have rates peaking at 5.0% in March, only to fall back to 4.5% by year end.EYEING APPLEYields on 10-year notes have fallen 31 basis points so far this month to 3.518%, essentially easing financial conditions even as the Fed seeks to tighten.That dovish outlook will also be tested by data on U.S. payrolls, the employment cost index and various ISM surveys.As for Wall Street's recent rally, much will depend on earnings from Apple Inc, Amazon.com, Alphabet Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for consumers globally and a snapshot of the China supply chain issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe iPhone 14 Pro demand is holding up firmer than expected," they added. "Apple will likely cut some costs around the edges, but we do not expect mass layoffs." Market pricing of early Fed easing has been a burden for the dollar, which has lost 1.5% so far this month against a basket of major currencies.The euro is up 1.4% for January at $1.0870 and just off a nine-month top. The dollar has even lost 1% on the yen to 129.92 despite the Bank of Japan's dogged defence of its uber-easy policies.The drop in the dollar and yields has been a boon for gold, which is up 5.6% for the month so far at $1,928 an ounce. [GOL/]China's rapid reopening is seen as a windfall for commodities in general, supporting everything from copper to iron ore to oil prices. [O/R]Beijing reported Lunar New Year travel trips inside China surged 74% from last year, though that was still only half of pre-pandemic levels.Early Monday, Brent was up 79 cents at $87.45 a barrel, while U.S. crude rose 66 cents to $80.34. (Reporting by Wayne Cole; Editing by Christopher Cushing)By Wayne Cole \ No newline at end of file diff --git a/news/GOOGL/2023.01.29/Asia shares turn cagey as rate hikes, earnings loom.txt b/news/GOOGL/2023.01.29/Asia shares turn cagey as rate hikes, earnings loom.txt new file mode 100644 index 0000000000000000000000000000000000000000..6e47c43e350a14682c1c2592df9b091df1e87756 --- /dev/null +++ b/news/GOOGL/2023.01.29/Asia shares turn cagey as rate hikes, earnings loom.txt @@ -0,0 +1,53 @@ +*Asian stock markets: https://tmsnrt.rs/2zpUAr4*Fed seen hiking 25bp this week, ECB and BOE by 50bp*Tech giants lead host of earnings results*China shares up as holiday travel surgesSYDNEY, Jan 30 (Reuters) - Asian shares turned cagey on +Monday ahead of a week that is certain to see interest rates +rise in Europe and the United States, along with U.S. jobs and +wage data that may influence how much further they still have to +go.Earnings from a who's who of tech giants will also test the +mettle of Wall Street bulls, who are looking to propel the +Nasdaq to its best January since 2001.Asia has been no slouch either as China's swift reopening +bolsters the economic outlook, with MSCI's broadest index of +Asia-Pacific shares outside Japan up 11% in +January so far at a nine-month high.The index was off 0.2% on Monday with markets mixed across +the region. Japan's Nikkei went flat, while Taiwan +jumped 3.1%.The Nikkei newspaper reported Renault was to lower +its share holding in Nissan to 15%, while the latter +would invest in Renault's EV business.Chinese blue chips climbed 1.1% after returning +from the holidays. Beijing reported Lunar New Year travel trips +inside China surged 74% from last year, though that was still +only half of pre-pandemic levels.S&P 500 futures and Nasdaq futures both eased +0.3%, while EUROSTOXX 50 futures and FTSE futures +dipped 0.2%.Investors are confident the Federal Reserve will raise rates +by 25 basis points on Wednesday, followed the day after by +half-point hikes from the Bank of England and European Central +Bank, and any deviation from that script would be a real shock.Just as important will be the guidance on future policy with +analysts expecting a hawkish message of inflation is not yet +beaten and more needs to be done."With U.S. labor markets still tight, core inflation +elevated, and financial conditions easing, Fed Chair Powell's +tone will be hawkish, stressing that a downshifting to a 25bp +hike doesn't mean a pause is coming," said Bruce Kasman, chief +economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against +market pricing of rate cuts later this year."There is a lot of pushing to do given futures +currently have rates peaking at 5.0% in March, only to fall back +to 4.5% by year end.EYEING APPLEYields on 10-year notes have fallen 33 basis +points so far this month to 3.50%, essentially easing financial +conditions even as the Fed talks tough on tightening.That dovish outlook will also be tested by data on U.S. +payrolls, the employment cost index and various ISM surveys.Figures on EU inflation could be important for whether the +ECB signals a half-point rate rise for March, or opens the door +to slowdown in the pace of tightening.As for Wall Street's recent rally, much will depend on +earnings from Apple Inc, Amazon.com, Alphabet +Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for +consumers globally and a snapshot of the China supply chain +issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe +iPhone 14 Pro demand is holding up firmer than expected," they +added. "Apple will likely cut some costs around the edges, but +we do not expect mass layoffs."Market pricing of early Fed easing has been a burden for the +dollar, which has lost 1.6% so far this month to stand at +101.790 against a basket of major currencies.The euro is up 1.5% for January at $1.0878 and +just off a nine-month top. The dollar has even lost 1.3% on the +yen to 129.27 despite the Bank of Japan's dogged +defence of its uber-easy policies.The drop in the dollar and yields has been a boon for gold, +which is up 5.8% for the month so far at $1,930 an ounce.China's rapid reopening is seen as a windfall for +commodities in general, supporting everything from copper to +iron ore to oil prices.The oil market was hesitant on Monday, with Brent +off 11 cents at $86.55 a barrel, while U.S. crude eased 3 +cents to $79.65.(Reporting by Wayne Cole; Editing by Christopher Cushing) \ No newline at end of file diff --git a/news/GOOGL/2023.01.29/China's Baidu to launch ChatGPT-style bot in March - source.txt b/news/GOOGL/2023.01.29/China's Baidu to launch ChatGPT-style bot in March - source.txt new file mode 100644 index 0000000000000000000000000000000000000000..0d50bfa0dfa9ceb7693bc84e182eb24e3f58fc4e --- /dev/null +++ b/news/GOOGL/2023.01.29/China's Baidu to launch ChatGPT-style bot in March - source.txt @@ -0,0 +1 @@ +Baidu plans to debut the application by initially embedding it into its main search services, Bloomberg News reported earlier.ChatGPT's tech works by learning from vast amounts of data how to answer any prompt by a user in a human-like way, offering the information like a search engine would or prose like an aspiring novelist.Microsoft Corp has a $1 billion investment in San Francisco-based OpenAI that it has looked at increasing, Reuters has reported. The company has also worked to add OpenAI's image-generation software to its Bing search engine in a new challenge to Alphabet Inc's Google. (Reporting by Yingzhi Yang and Jyoti Narayan; Editing by Dhanya Ann Thoppil) \ No newline at end of file diff --git a/news/GOOGL/2023.01.29/Japan's Nikkei tracks Wall Street higher, U.S. events in focus.txt b/news/GOOGL/2023.01.29/Japan's Nikkei tracks Wall Street higher, U.S. events in focus.txt new file mode 100644 index 0000000000000000000000000000000000000000..18392d59da98f4c577842d6ed901d3ae34aaa7ea --- /dev/null +++ b/news/GOOGL/2023.01.29/Japan's Nikkei tracks Wall Street higher, U.S. events in focus.txt @@ -0,0 +1,27 @@ +TOKYO, Jan 30 (Reuters) - Japan's Nikkei index rose on +Monday, tracking Wall Street's climb in the previous session, +although the gains were capped by caution ahead of the Federal +Reserve's meeting and domestic corporate earnings announcements.The Nikkei share average was up 0.33% at 27,473.75 +by the midday break, while the broader Topix inched +0.14% higher at 1,985.42.The week is filled with market-moving cues, so investors are +being more cautious, said Shigetoshi Kamada, general manager at +the research department at Tachibana Securities."I am unsure if this (upbeat) momentum will continue this +week. Investors are cautious and could sell stocks to book +profits ahead of the Fed meeting, U.S. employment data as well +as domestic corporate results."Wall Street rose on Friday, marking the end of a rocky week +in which economic data and corporate earnings guidance hinted at +softening demand but also economic resiliency ahead of the U.S. +Federal Open Market Committee (FOMC) this week.A string of high profile earnings reports are on tap +globally, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Investors are also reacting to Japanese corporate outlook as +the earnings season reaches its peak this week.Fanuc jumped 4.25% after the robot maker raised its +annual operating profit outlook and announced a 5-for-1 stock +split.Shin-Etsu Chemical, up 4.48%, posted a fourth +straight session of gains as the silicon wafter maker raised its +annual operating profit outlook.Japanese semiconductor equipment makers showed muted +reaction to news that Washington had made progress towards a +deal to curb exports of some advanced chip-making equipment to +China with several governments.Tokyo Electron rose 0.54% and Advantest +inched up 0.21%, while Nikon rose 0.48%. +(Reporting by Junko Fujita; editing by Uttaresh.V) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/'They fire, we hire' - Germany seizes on Silicon Valley's woes.txt b/news/GOOGL/2023.01.30/'They fire, we hire' - Germany seizes on Silicon Valley's woes.txt new file mode 100644 index 0000000000000000000000000000000000000000..0662de2ce765af8a9a9eed06d9f2df8acfbe058f --- /dev/null +++ b/news/GOOGL/2023.01.30/'They fire, we hire' - Germany seizes on Silicon Valley's woes.txt @@ -0,0 +1 @@ +The U.S. West Coast has always been the main destination for ambitious software engineers looking to work in the best-paid, most elite corner of their profession, but the mass redundancies have created a pool of jobseekers that Germany is eager to tap."They fire, we hire," said Rainer Zugehoer, Chief People Officer at Cariad, the software subsidiary of automaker Volkswagen. "We have several hundred open positions in the U.S., in Europe and in China."Spooked by inflation and the prospect of recession, Google parent Alphabet, Microsoft and Facebook owner Meta have announced a combined almost 40,000 job cuts.While Germany is also teetering on the edge of recession, its companies have grown more slowly in recent years and, in a country notorious for still handling business by fax, there are huge technology leaps to be made.Germany, with one of the world's oldest populations, has gaping holes in its labour force: according to IT industry group Bitkom, 137,000 IT jobs are unfilled.The government is simplifying immigration rules and dangling the prospect of easily-acquired citizenship to tempt skilled would-be immigrants, and regional authorities are pressing ahead."I would like to cordially invite you to move to Bavaria," wrote Judith Gerlach, digitalisation minister in Germany's wealthiest region on LinkedIn in a post addressed to the recently laid off.Especially with the euro at dollar parity, few European companies pay rates that compete with the hundreds of thousands of dollars on offer at California's most successful companies, but some hope cheaper healthcare and lower costs compared to hotspots like San Francisco can help."And did I mention Oktoberfest?" Gerlach added, adding Munich's famed beer festival to the strong labour protections that might prove attractive to the newly jobless.Some are sceptical, with Bitkom's Bernhard Rohleder noting that Germany is competing not just with other countries for the most talented, but with potential recruits' home countries too.Germany's penchant for red tape could be another challenge: companies are already reporting months-long delays in securing appointments for their new hires to get work permits."Bureaucracy in Germany is utterly crippling for most highly-qualified workers when they first encounter it, especially if they don't speak German," said Diana Stoleru of Berlin startup Lendis. (Writing by Thomas Escritt; Editing by Mark Potter)By Rene Wagner and Jan Schwartz \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Analysis-Renault cedes power at Nissan for uncertain benefits.txt b/news/GOOGL/2023.01.30/Analysis-Renault cedes power at Nissan for uncertain benefits.txt new file mode 100644 index 0000000000000000000000000000000000000000..a3e92836c64e781473713bdbc631f59ad11b3300 --- /dev/null +++ b/news/GOOGL/2023.01.30/Analysis-Renault cedes power at Nissan for uncertain benefits.txt @@ -0,0 +1 @@ +The deal, months in the making and still subject to board approvals, will see Renault reduce its stake in Nissan to 15% from around 43%.For Nissan, the advantages are clear: the Japanese carmaker gets much freer rein to do what it wants, and it is no longer in an alliance of unequal partners as capital ownership is rebalanced. That said, its stock could be weighed down as the bulk of Renault's current stake - worth some 3.8 billion euros ($4.1 billion) and moved to a trust - is sold off. The deal sees Nissan commit to invest in Renault's flagship Ampere electric vehicle unit, which was the French group's key goal.But Nissan's participation in Ampere is fairly conditional, joint projects at this stage are vague, and the Japanese carmaker acquiring voting rights on its 15% stake in Renault - something it didn't have before - means the French group will have to share decision-making more.Sources have told Reuters the alliance is considering around five common projects, a relatively small number compared to the list of 10 to 15 proposed last year by Renault chief executive Luca de Meo to his Japanese partner."Beyond the financial aspect, there is currently not much concrete on the benefits of the deal for Renault," one of the sources said, speaking on condition of anonymity due to the sensitivity of the matter."It is interesting for Renault to see Nissan enter Ampere, if only for financing projects. It is also interesting to see the focus on Latin America and India, again for scale effect. But no figures are given, it remains very vague." Shares in Renault dropped after the deal was announced.Gregoire Laverne of Cesga asset management, a Renault shareholder, said the market needed to know more. "And in a way it (the deal) marks the failure of the first version of the alliance," he said.More details will be unveiled in London on Feb. 6, sources close to the matter said.'CONDITIONAL'The Renault-Nissan alliance, which also includes junior partner Mitsubishi Motors Corp, was deeply strained by the 2018 ouster of its architect and former chairman, Carlos Ghosn, amid financial scandal. Ghosn has denied wrongdoing. The real test of the new deal, the sources said, will be Ampere.An early mover in electric cars, Renault has fallen behind newer, more agile rivals such as Tesla.It is counting on Ampere, which it will separate from its traditional internal combustion engine business and list on the stock market for a valuation of as much as 10 billion euros, to present itself as a pure electric player and get back into the race."If Nissan puts money and resources into engineering - technologies and teams - that would be a pretty good sign, the alliance will at least partially continue, but for now it's only conditional," a second industry source said. The operational projects to relaunch the partnership were barely sketched out on Monday. The companies highlighted Latin America, India and Europe - where they already have factories and joint production - as areas where they were considering projects related to markets, vehicles and technologies. "With Nissan recovering its voting rights at Renault, it means that the alliance is now strictly limited to the goodwill of the Japanese side," the second source said.Analysts seeking less complexity from Renault were disappointed in November when de Meo said he would split the French carmaker into five autonomous businesses. And Renault has announced plans to strengthen ties with China's Geely Automobile Holdings, which will take a big stake in Renault's combustion engine unit, Qualcomm and Google.Nissan, which sources have said is wary of sharing its technology with too many outsiders, may find the new set-up too much of an open relationship. After rising more than 20% since the start of the year, Renault's shares were down over 3% in afternoon trading. Ion-Marc Valahu at Clairinvest, also a Renault shareholder, said that "had to do with the fact that Renault did not give an update on their when will they sell their stake (in Nissan) and how the different divisions within Renault will be implemented."($1 = 0.9185 euros) (Reporting by Gilles Guillaume; Writing by Ingrid Melander; Editing by Silvia Aloisi and Mark Potter)By Gilles Guillaume \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Asian stocks slip as investors eye central bank hikes.txt b/news/GOOGL/2023.01.30/Asian stocks slip as investors eye central bank hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..8a07647ecf4e9245d7559e0d7c0bb6d1675c779f --- /dev/null +++ b/news/GOOGL/2023.01.30/Asian stocks slip as investors eye central bank hikes.txt @@ -0,0 +1 @@ +Investors broadly expect the U.S. Federal Reserve will raise interest rates by 25 basis points (bps) on Wednesday. Rate announcements are due on Thursday from both the Bank of England and the European Central Bank - and both are expected to hike rates by 50 bps.Meanwhile, more than 100 S&P 500 companies including Apple, Amazon.com and Google parent Alphabet are expected to report results this week, which also will see the publication of closely watched U.S. employment numbers."It's a big week for both central banks and U.S. equities, with ... some of the household names due to make earnings announcements that will provide a micro overview of the macro economy," ANZ analysts said in a note."We expect a 25 bps (U.S.) rate rise and anticipate that the Fed will caution against an early pause in the tightening cycle ... Risk appetite could be vulnerable to a correction."Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1%. U.S. stock futures, the S&P 500 e-minis, rose 0.1%. Japan's Nikkei stock index slid 0.1% while Australian shares were up 0.2%. China's blue-chip CSI300 index remained flat in early trade. Hong Kong's Hang Seng index opened up 0.4%.On Monday, U.S. stocks lost ground with the major indexes sinking, weighed down by declines in technology and other giant corporations' shares. The Dow Jones Industrial Average fell 0.8% to 33,717.09, the S&P 500 lost 1.3% to 4,017.77 and the Nasdaq Composite dropped 2.0% to 11,393.81.Despite Monday's declines, the S&P 500 remained on track to post its biggest January gain since 2019.At the end of the Fed's two-day policy meeting on Wednesday investors will be glued to Chair Jerome Powell's news conference for clues on whether the rate-hiking cycle may be coming to a close, and for signs of how long rates could stay elevated. Markets will also grapple with a flood of U.S. economic data, culminating in Friday's payrolls report for January. Investors see signs of weakening in the labour market as a key factor in bringing down high inflation. U.S. Treasury yields remained firm ahead of the central bank meetings and economic data, with the yield on benchmark 10-year Treasury notes US10YT=RR standing at 3.5384% compared with its U.S. close of 3.551% on Monday. The two-year yield, which rises with traders' expectations of higher Fed fund rates, touched 4.2402% compared with a U.S. close of 4.261%. In currencies, the U.S. dollar, which was poised for its fourth month of declines, was down at 102.19 against a basket of other major currencies. The European single currency was up 0.1% on the day at $1.0852, having gained 1.4% in a month.In the energy market, oil prices fell on Monday ahead of the expected hikes by central banks and signals of strong Russian exports. U.S. crude ticked up 0.2% to $78.02 a barrel while Brent crude settled at $84.9 per barrel early in the Asia session. Gold was slightly higher. Spot gold was traded at $1922.91 per ounce. [GOL/] (Editing by Kenneth Maxwell)By Julie Zhu \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Copper under pressure, China demand worry dominates mood.txt b/news/GOOGL/2023.01.30/Copper under pressure, China demand worry dominates mood.txt new file mode 100644 index 0000000000000000000000000000000000000000..c7b59a4b8e170c902094ec118f64b59b91f19b6b --- /dev/null +++ b/news/GOOGL/2023.01.30/Copper under pressure, China demand worry dominates mood.txt @@ -0,0 +1,32 @@ +LONDON, Jan 30 (Reuters) - Copper prices dropped on +Monday as worries about the outlook for demand in top consumer +China dominated sentiment ahead of data from the country's +manufacturing sector, while a softer dollar provided some +support.Benchmark copper on the London Metal Exchange was +down 0.7% at $9,197 a tonne at 1702 GMT. It hit a seven-month +high earlier this month as speculators piled in after China +removed its COVID-19 restrictions."Production of metal/copper containing goods in China, +things like cars and washing machines, rose significantly last +year. They don't need to be produced this year even if shoppers +return," said Julius Baer analyst Carsten Menke.Neither does Menke expect any boost to metals demand from +the property sector. "China's population is shrinking, demand +for property is declining structurally, why would the government +use property to stimulate growth?"Clues to demand prospects will come from surveys of +purchasing managers in China's manufacturing sector this week.A lower U.S. currency makes dollar-priced metals cheaper for +holders of other currencies, which could boost demand.The future direction of interest and currency rates could be +determined by earnings reports from Apple, Alphabet +and Amazon and a meeting of the Federal +Reserve this week."We have long argued that the Fed will need to take a rate +pause at some point, but we think it will not do so at this +particular meeting," Edward Meir, analyst at ED&F Man Capital +Markets, said.Technical support for copper is around $9,025 where a +Fibonacci retracement level and the 21-day moving average meet.Meanwhile, the zinc market is focused on dwindling stocks in +LME approved warehouses , which at 17,425 tonnes are +at their lowest since 1989 and large holdings of zinc warrants +and cash contracts <0#LME-WHC>.Concern about availability on the LME has created a premium +or backwardation for the cash over the three-month zinc +contracts , which was last trading at $26 a tonne.Three-month zinc was up 0.7% at $3,438 a tonne.In other metals, aluminium was down 1.5% at $2,588 a +tonne, lead fell 1.7% to $2,145, tin ceded 3.6% +to $29,740 and nickel was up 1.5% at $29,350. +(Reporting by Pratima Desai; editing by Kirsten Donovan and +Barbara Lewis) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/It's all about central banks this week.txt b/news/GOOGL/2023.01.30/It's all about central banks this week.txt new file mode 100644 index 0000000000000000000000000000000000000000..b0c68f0a516bf423e0dee1534c18d36768253e7f --- /dev/null +++ b/news/GOOGL/2023.01.30/It's all about central banks this week.txt @@ -0,0 +1,38 @@ + +I think it's safe to say that the Fed's decision on Wednesday will be this week's focus. For the new readers or listeners among you, I will explain why. This is because investors generally try to anticipate what is going to happen in the foreseeable future to optimize their asset allocations. For example, investing in companies that have strong earnings or low debt when the economic outlook deteriorates. Or investing in cyclical companies whose earnings are soaring when the economy is about to rebound. There are many classic patterns of this type in finance. + +Since the financial crisis of 2008, central banks have taken control of economic destinies by drowning fears of financial collapse in new money. They have accustomed investors to evolving in a world of abundant liquidity. As a result, these investors have taken increasingly risky bets. Yes, when money flows freely, it can irrigate areas where investors would not even dream of going under normal conditions. Speculative bubbles are formed. Some of them burst in 2022, notably because central banks were forced to reduce access to free money for fear of an inflationary spiral. To do so, they unraveled their asset purchase programs while raising their key rates. Investors then drastically reduced their riskiest bets: goodbye SPAC, meme-shares, companies without business models, crazy crypto-currencies, etc. Currently, the market is watching for the moment when central banks (and when I say central banks, it's mostly the Fed) will stop raising rates. Because that means two things: one, that the economic situation has stabilized. On the other hand, it means that the time when rates will come down again is approaching. In other words, a new growth cycle could appear and money will be cheaper. Hence the return of risk appetite. +This is more or less the situation now. And investors are looking to get two steps ahead. They know that the Fed is going to raise rates again, probably twice by the end of spring, but they are already gambling on the upturn that they hope will follow. To avoid missing the bandwagon, they're getting on the bandwagon early, if you will. On Wednesday, the Fed will likely announce another rate hike, but limited to the bare minimum, 25 basis points. Will it try to cool the market's ardor? This is the real unknown of the week. +Because January saw buyers return to the stock market in droves. In particular on cyclical or slightly daring bets. The taste for risk can be seen in the index charts: the MSCI China, the Hang Seng and the Argentine Merval rose by more than 14% in January. The Nasdaq, which was crushed in 2022, has recovered 11% in one month. Many markets have gained 9 to 10% since January 1, which is exceptional: Paris, Madrid and Seoul in particular. Last week, American indices were at their best, while Europe, which had made a better start in 2023, made only modest progress. +The week will be marked by the monetary policy decisions of three central banks. The Fed on Wednesday, then the European Central Bank and the Bank of England on Thursday. There will also be the earnings reports of some 40 companies worth more than $100 billion on the agenda this week. In the United States, Apple, Alphabet and Amazon on the evening of February 2. In Europe, Novo Nordisk, Novartis, Roche, Shell and Sanofi among others. But they are not the only ones and a few hundred smaller companies are also scheduled. +To end this column, I will mention a few important developments over the weekend: The United States, Japan and the Netherlands have reached an agreement to limit China's access to certain key semiconductor technologies. On a related topic, the Wall Street Journal revealed that China's main military nuclear lab continued to use advanced U.S. chips despite the 1997 embargo. Meanwhile, House Speaker Kevin McCarthy announced that he would meet with Speaker Joe Biden on Wednesday to discuss raising the federal debt ceiling. +Mainland Chinese equity markets reopened this morning after a week-long break for the Lunar New Year. +This morning, U.S. futures were all down, with the Nasdaq 100 losing 1.2% due to a fall in growth stocks ahead of central banks decisions. +  +Economic highlights of the day: +There aren't any important indicators today in the US. +The dollar is down 0.2% against the euro to EUR 0.9179 and is stable against the pound at GBP 0.8070. The ounce of gold is trading at USD 1925. Oil is losing ground, with North Sea Brent crude at USD 86.4 per barrel and US light crude WTI at USD 79.78. The yield on 10-year US debt is stagnant at 3.50%. Bitcoin is down to USD 23,000. +  +In corporate news: +* Apple, Amazon and Alphabet, which are due to report their fourth quarter results this week, are each down about 1.5% in premarket trading. +* Wall Street-listed Chinese companies Alibaba, Bilibili, Pinduoduo and JD.Com are down 4 percent to 7.5 percent in premarket trading after Mike McCaul, the new chairman of the U.S. House of Representatives' Foreign Affairs Committee, said Sunday that the risks of a conflict with China over Taiwan are "very high". +* Goldman Sachs Group has restructured its assets in Russia, which could pave the way for a full exit from the country, RBC reported Monday, citing two investment market sources. +* Biogen and Eisai announced in a joint statement that the Japanese Ministry of Health has granted priority review status to the two companies' Alzheimer's disease treatment lecanemab. +* Boeing - The U.S. aircraft manufacturer will deliver on Tuesday to Atlas Air the last Boeing 747, a twin-aisle aircraft designed in the late 1960s to meet the demand for mass travel and which will be discontinued. +  +Analyst recommendations: + +Axalta: Citi raised the recommendation to buy from neutral. PT up 20% to $35.19. +Eastman Chemical: Vertical Research Partners downgrades to hold from buy. PT up 6% to $92. +Federal Realty: Compass Point Research & Trading raised its recommendation to buy from neutral. PT up 12% to $125. +HCA Healthcare: Truist Securities raises price target to $290 from $270. Maintains buy rating. +Kohl's: Goldman Sachs reinstated coverage with a recommendation of sell. PT down 14% to $27. +Lockheed Martin: DZ Bank AG upgrades to buy from hold. PT up 14% to $523. +Macy's: Goldman Sachs reinstated coverage with a recommendation of buy. PT up 21% from last price to $28. +Nordstrom: Goldman Sachs reinstated coverage with a recommendation of neutral. PT up 8.6%  from last price to $20. +Regeneron: Cowen upgrades to outperform from market perform. PT jumps 18% to $875. +Rentokil: Numis moves from accumulate to hold targeting GBp 470. +Tanger: Compass Point Research & Trading LLC downgrades to neutral from buy. PT up 9% to $21. +Tesla: Berenberg upgrades to buy from hold. PT up 12% to $200. +Uber: MoffettNathanson initiated coverage with a recommendation of outperform. PT set to $47. + diff --git a/news/GOOGL/2023.01.30/Japan's Nikkei tracks Wall Street gains to end at over 1-month high.txt b/news/GOOGL/2023.01.30/Japan's Nikkei tracks Wall Street gains to end at over 1-month high.txt new file mode 100644 index 0000000000000000000000000000000000000000..98928ea4869e92300340681b4aa7c3a4b46bad8b --- /dev/null +++ b/news/GOOGL/2023.01.30/Japan's Nikkei tracks Wall Street gains to end at over 1-month high.txt @@ -0,0 +1,30 @@ +TOKYO, Jan 30 (Reuters) - Japan's Nikkei index ended at +a more than one-month high on Monday, tracking Wall Street gains +in the last session, although the gains were capped by caution +ahead of the U.S. Federal Reserve's meeting and domestic +corporate earnings announcements.The Nikkei share average gained 0.19% to close at +27,433.40, its highest close since Dec. 16, after briefly +slipping in the negative territory. The broader Topix +was marginally down 0.01% at 1,982.40.The week is filled with market-moving events, so investors +are being more cautious, said Shigetoshi Kamada, general manager +at the research department at Tachibana Securities."I am unsure if this (upbeat) momentum will continue this +week. Investors are cautious and could sell stocks to book +profits ahead of the Fed meeting, U.S. employment data as well +as domestic corporate results."Wall Street rose on Friday, marking the end of a rocky week +in which economic data and corporate earnings guidance hinted at +softening demand but also economic resiliency ahead of the U.S. +Federal Open Market Committee this week.A string of high profile earnings reports are on tap +globally, notably from Apple Inc, Amazon.com, +Alphabet Inc and Meta Platforms, among +others.Investors are also reacting to Japan's corporate outlook, as +the earnings season reaches its peak this week.Fanuc jumped 3.58% after the robot maker raised its +annual operating profit outlook and announced a 5-for-1 stock +split.Shin-Etsu Chemical, up 5.08%, posted a fourth +straight session of gains as the silicon wafter maker raised its +annual operating profit outlook.Japanese semiconductor equipment makers showed muted +reaction to news that Washington had made progress towards a +deal to curb exports of some advanced chip-making equipment to +China with several governments.Tokyo Electron rose 0.68% and Advantest +lost 0.32%, while Nikon inched up 0.16%. +(Reporting by Junko Fujita; editing by Uttaresh.V and Rashmi +Aich) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Marketmind: Fasten your seatbelts.txt b/news/GOOGL/2023.01.30/Marketmind: Fasten your seatbelts.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9dd4596c217f7493ad88980bc3edf3e5766280e --- /dev/null +++ b/news/GOOGL/2023.01.30/Marketmind: Fasten your seatbelts.txt @@ -0,0 +1 @@ +Wall Street's downbeat start to an action-packed week has set a bumpy course for Asian markets on Tuesday.U.S. stocks appeared to take a breather near the end of a month of solid gains, dipping into red as market participants gird their loins for multiple central bank policy decisions and a spate of high profile megacap earnings, with the Labor Department's hotly anticipated January employment report due on Friday.The Federal Reserve convenes its two-day monetary policy meeting on Tuesday, which is expected to culminate on Wednesday with a bite-sized 25 basis point hike to the Fed funds target rate.The Bank of England and the European Central Bank are poised to follow the Fed by hiking crucial interest rates by a more aggressive 50 basis points.On the earnings front, Caterpillar Inc, General Motors Co, Pfizer Inc, United Parcel Service Inc and McDonald's Corp are expected before Tuesday's opening bell.Meta Platforms Inc waits in the wings on Wednesday, with Apple Inc, Amazon.com and Alphabet Inc on deck for Thursday.Those earnings calls, along with Fed Chairman Jerome Powell's post-rate-decision remarks, will be parsed and scrutinized by investors for clues regarding the likelihood, severity and timing of a potential recession.Elsewhere, the U.S. dollar gained ground against a basket of world currencies, crude prices plunged as the prospect of rate hikes and robust Russian exports dampened optimism over rebounding Chinese demand. Speaking of which, the world's second-largest economy's fiscal revenue growth decelerated sharply in 2022 to 0.6% from 10.7% in 2021, largely due to Beijing's strict COVID-19 policies.Those policies have since been relaxed, sparking hopes of demand revival in China, which could take some of the sting of restrictive central bank policy. Here are some key developments that could provide more direction to markets on Tuesday:- South Korea and Japan are expected to post December industrial output and retail sales data- China due to release manufacturing and composite PMI reports for January- U.S. will follow Case-Shiller home prices (November), consumer confidence (January) and Chicago PMI (January) (Reporting by Stephen Culp; Editing by Josie Kao)By Stephen Culp \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Marketmind: This might hurt.txt b/news/GOOGL/2023.01.30/Marketmind: This might hurt.txt new file mode 100644 index 0000000000000000000000000000000000000000..b4057241bd779c3b5d02b8a8db38f70e32541476 --- /dev/null +++ b/news/GOOGL/2023.01.30/Marketmind: This might hurt.txt @@ -0,0 +1 @@ +This week promises to be one of the most action-packed in a while. Three of the world's most influential central banks are likely to raise rates to their highest since the financial crisis, while Q4 earnings season is starting to gather pace.Big Tech royalty in the form of Apple, Alphabet and Amazon deliver earnings. With the tech sector bleeding profitability and jobs, whatever these three say on that front could carry almost as much weight as whatever the Federal Reserve says when it pronounces on the economic outlook on Wednesday.With 109 of the S&P's 500 components set to report in the coming five days alone, investors are going to get a non-stop barrage of hot takes on anything from inflation to the impact of the gyrations of the dollar, to China and beyond.The euphoria that marked the end of 2022, fed by China dismantling its COVID restrictions and more benign energy prices, has carried through this month, despite a decidedly gloomy earnings season and an insistence among central bankers that high inflation isn't going anywhere any time soon.The S&P itself is heading for a 6.1% rise this month - which would mark its best January since 2019. The first month of the year tends to be one of the strongest anyway, according to Refinitiv data.In the last 94 years, the S&P has risen by 1.2% on average in January, compared with an average rise of 1.3% in December, the month with the highest returns.One of the major boosts that the stock market has enjoyed this January has been the seemingly cast-iron conviction among traders and investors that the Fed, while not bluffing exactly, won't raise rates as much as policymakers say they will, and that inflation won't prove nearly as sticky.This has translated into a near 30 basis-point drop in 10-year Treasury yields and the S&P hasn't got as much bang for its buck in the month of January from a drop in yields like this in recent memory.Even in strong Januarys, such as that of 2019, when the index rose by 7%, 10-year yields fell only 6 bps. In January 1987, when the index rose 13%, yields fell just 6 bps.With so much riding on the Fed being wrong and the markets being right about the outlook for monetary policy, there would appear to be a lot more scope than usual for equity bulls to get a smack in the face from anything that might force a rethink on where U.S. rates might peak. Key developments that should provide more direction to markets on Monday: - Dallas Fed Manufacturing Business Index January -18.8 prior- Dallas Fed PCE 3.4% prior- German economy unexpectedly shrinks in Q4 (Reporting by Amanda Cooper; Editing by Hugh Lawson) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus.txt b/news/GOOGL/2023.01.30/Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus.txt new file mode 100644 index 0000000000000000000000000000000000000000..0ab02216967df8173e8070c4fbe3ef229b56f935 --- /dev/null +++ b/news/GOOGL/2023.01.30/Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Meta, Alphabet, Amazon.com slide ahead of earnings*Fed decision on interest rates on Wednesday*Indexes down: Nasdaq 1.29%, S&P 0.74%, Dow 0.23%Jan 30 (Reuters) - The tech-focused Nasdaq fell more +than 1% on Monday as megacap growth stocks including Apple, +Amazon and Alphabet fell ahead of their earnings reports this +week, while investors awaited the U.S. Federal Reserve's +rate-setting meeting.The central bank is seen hiking the Fed funds rate by 25 +basis points (bps) at the end of its two-day policy meeting on +Wednesday, followed by Fed Chair Jerome Powell's speech, which +will be scrutinized for any signs of further increases."How strong of a language he (Powell) uses is what it's +going to come down to," said Andre Bakhos, president at Ingenium +Analytics LLC in Bernardsville, New Jersey.This will likely be the smallest rate increase since the +Fed kicked off its tightening cycle 10 months ago with a 25 bps +hike, with financial markets pricing in a final rate hike in +March.Money markets now see rates peaking at 4.9% in June, still +below the 5% level expected by Fed policymakers.After a slew of layoffs by large-cap tech and financial +firms through the month, investors will now keep an eye on the +Labor Department's January nonfarm payrolls data expected on +Friday.A total of 107 S&P 500 firms are expected to report +quarterly results in the busiest week of the earnings season, +including heavyweight growth companies Apple Inc, +Amazon.com Inc, Alphabet Inc and Meta +Platforms Inc, each down between 1% to 2%.Analysts expect S&P 500 earnings for the fourth quarter to +decline 3%, compared with a 1.6% drop expected at the beginning +of the year, according to Refinitiv data.Wall Street is expected to end the month higher, with the +Nasdaq and the S&P 500 Growth index recouping +more than half their monthly losses from December. The S&P 500 +index is set for the best start to the year since 2019.Tighter monetary policies have stood in the way of growth +firms expanding their businesses, which have also been pressured +for much of last year by high Treasury yields.Bakhos said that the decline in growth stocks on Monday +could be due to some profit-taking, noting that earnings from +these companies could be less dire than what most expect.The European Central Bank and the Bank of England are also +seen raising interest rates later in the week.At 12:31 p.m. ET, the Dow Jones Industrial Average +was down 79.27 points, or 0.23%, at 33,898.81, the S&P +500 was down 30.03 points, or 0.74%, at 4,040.53, and the +Nasdaq Composite was down 149.66 points, or 1.29%, at +11,472.05.Johnson & Johnson slipped 3% on the dismissal of a +bankruptcy petition filed by its LTL Management unit by the 3rd +U.S. Circuit Court of Appeals.American Express Co rose 2.7% after several +brokerages raised price targets on the stock on its strong +full-year forecast.Declining issues outnumbered advancers for a 1.70-to-1 ratio +on the NYSE and for a 1.66-to-1 ratio on the Nasdaq.The S&P index recorded five new 52-week highs and no new +lows, while the Nasdaq recorded 46 new highs and 13 new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Nasdaq leads drop in futures ahead of Fed rate decision.txt b/news/GOOGL/2023.01.30/Nasdaq leads drop in futures ahead of Fed rate decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..705171f0edf678ebe1d1414f5a7f56cfb7e8b6e2 --- /dev/null +++ b/news/GOOGL/2023.01.30/Nasdaq leads drop in futures ahead of Fed rate decision.txt @@ -0,0 +1 @@ +The U.S. Federal Reserve is seen hiking the Fed funds rate by 25 basis points (bps) at the end of its two-day policy meeting on Wednesday, close on the heels of data showing signs of slowing demand and cooling inflation. "The interest rate snowball is gathering speed, and its squashing down demand in its path," Susannah Streeter, markets analyst at Hargreaves Lansdown wrote in a client note. "Although rate rises are causing the U.S. economy to slip up, hopes have come in flurries that it will still have a soft landing. But there is nervousness ahead of the crucial Fed meeting this week." This will likely be the smallest rate increase since the Fed kicked off its tightening cycle 10 months ago with a 25 bps hike, with financial markets pricing in a final rate hike in March. Money markets now see rates peaking at 4.9% in June, still below the 5% level expected by Fed policymakers. [FEDWATCH]Heavyweight growth stocks, including Apple Inc, Amazon.com Inc and Alphabet Inc, fell about 1.5% each in premarket trading. They will report quarterly earnings on Thursday, after the bell.The tech-heavy Nasdaq index notched its fourth straight weekly gain on Friday.At 6:25 a.m. ET, Dow e-minis were down 242 points, or 0.71%, S&P 500 e-minis were down 40.25 points, or 0.99%, and Nasdaq 100 e-minis were down 164 points, or 1.34%. Other major central banks including the European Central Bank and the Bank of England are also seen raising interest rates later in the week. (Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Shares and bonds nervy as rate-hike week looms.txt b/news/GOOGL/2023.01.30/Shares and bonds nervy as rate-hike week looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..9386fd7552ac4f165d2eee10f810c1537bc23dc0 --- /dev/null +++ b/news/GOOGL/2023.01.30/Shares and bonds nervy as rate-hike week looms.txt @@ -0,0 +1,59 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Technology giants lead host of earnings results*Shares edge down after robust January rallyLONDON, Jan 30 (Reuters) - Stock markets worldwide +halted their January rally on Monday, pausing for breath at the +start of an agenda-setting week of central bank rate hikes and +data releases that will clarify if progress has been made in the +battle against inflation.Investors expect the Federal Reserve will raise rates by 25 +basis points on Wednesday, followed the day after by half-point +hikes from the Bank of England and European Central Bank, and +any deviation from that script would be a real shock.Europe's benchmark STOXX index fell 0.8% on Monday morning, +echoing a slight dip in MSCI's broadest index of Asia-Pacific +shares outside Japan, which has surged 11% in +January so far as China's reopening bolsters sentiment.The U.S. Nasdaq index is likewise on course for its best +January since 2001, a rally that will be tested by earnings +updates from tech giants this week.U.S. stocks were set to follow the nervous Monday mood +with S&P 500 futures down 1% and Nasdaq futures +falling 1.3%, as investors await guidance later in the week on +the Federal Reserve's policy.Analysts expect a hawkish tone suggesting that more needs to +be done to tame inflation."With U.S. labour markets still tight, core inflation +elevated and financial conditions easing, Fed Chair Powell's +tone will be hawkish, stressing that a downshifting to a 25bp +hike doesn't mean a pause is coming," said Bruce Kasman, chief +economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against +market pricing of rate cuts later this year."There is a lot of pushing to do given futures +currently expect rates to peak at 5% in March and to fall back +to 4.5% by year end.Europe offered a brisk reminder that the fight against +rising prices is far from over, as bond yields in the region +rose sharply on Monday in the wake of stronger-than-expected +Spanish inflation data.The data showing inflation rose 5.8% year-on-year in +January, against expectations of 4.7%, pushed up the zone's +benchmark German 10-year government bond yield 7 +basis points (bps) to 2.3190%, its highest since Jan. 10.Italian and Spanish yields also inched up.The dollar index was flat ahead of the week's key +data, on course for a fourth straight monthly loss of more than +1.5% on growing expectations that the Fed is nearing the end of +its rate-hike cycle.APPLE'S COREYields on 10-year notes have fallen 33 basis +points so far this month to 3.50%, essentially due to easing +financial conditions even as the Fed talks tough on tightening.That dovish outlook will also be tested by data on U.S. +payrolls, the employment cost index and various ISM surveys.Reading on EU inflation could be important for whether the +ECB signals a half-point rate rise for March, or opens the door +to a slowdown in the pace of tightening.As for Wall Street's recent rally, much will depend on +earnings from Apple Inc, Amazon.com, Alphabet +Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for +consumers globally and a snapshot of the China supply chain +issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe +iPhone 14 Pro demand is holding up firmer than expected," they +added. "Apple will likely cut some costs around the edges, but +we do not expect mass layoffs."Market pricing of early Fed easing has been a burden for the +dollar, which has lost 1.6% so far this month to stand at +101.85 against a basket of major currencies.The euro is up 1.5% for January at $1.0878 and +just off a nine-month top. The dollar has even lost 1.3% on the +yen to 129.27 despite the Bank of Japan's dogged +defence of its ultra-easy policies.The drop in the dollar and yields has been a boon for gold, +which is up 5.8% for the month so far at $1,930 an ounce.The precious metal was flat on Monday ahead of the slew of +key central bank moves and data releases.China's rapid reopening is seen as a windfall for +commodities in general, supporting everything from copper to +iron ore to oil prices.Oil steadied on Monday after earlier losses, with prices +bolstered by rising Middle East tension over a drone attack in +Iran and hopes of higher Chinese demand.Brent crude rose 10 cents, or 0.12%, to $86.76 a +barrel by 1200 GMT while U.S. West Texas Intermediate crude +added 4 cents, or 0.05%, to $79.72.(Reporting Lawrence White and Wayne Cole; Editing by +Christopher Cushing, Arun Koyyur and Christina Fincher) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Shares shaky as rate-hike week looms.txt b/news/GOOGL/2023.01.30/Shares shaky as rate-hike week looms.txt new file mode 100644 index 0000000000000000000000000000000000000000..22ed10e695987b5c81bbe002cfc11eebffe862fd --- /dev/null +++ b/news/GOOGL/2023.01.30/Shares shaky as rate-hike week looms.txt @@ -0,0 +1,52 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Technology giants lead host of earnings results*Shares edge down after roaring January rallySYDNEY/LONDON, Jan 30 (Reuters) - Shares slipped on +Monday at the start of an agenda-setting week for markets in +which likely interest rate hikes in Europe and the United +States, as well as U.S. jobs and wage data will give markets a +fresh update on the battle against inflation.Investors expect the Federal Reserve will raise rates by 25 +basis points on Wednesday, followed the day after by half-point +hikes from the Bank of England and European Central Bank, and +any deviation from that script would be a real shock.Earnings from tech giants will also test the mettle of Wall +Street bulls, who are looking to propel the Nasdaq to its best +January since 2001.Europe's benchmark STOXX index fell 0.5% on Monday morning, +echoing a slight dip in MSCI's broadest index of Asia-Pacific +shares outside Japan, which has surged 11% in +January so far as China's reopening bolsters its economy.Meanwhile, U.S. stocks were set to follow the nervous +Monday mood with S&P 500 futures and Nasdaq futures +down nearly 1%, as investors await guidance later in the +week on the Federal Reserve's policy.Analysts expect a hawkish tone suggesting that more needs to +be done to tame inflation."With U.S. labour markets still tight, core inflation +elevated and financial conditions easing, Fed Chair Powell's +tone will be hawkish, stressing that a downshifting to a 25bp +hike doesn't mean a pause is coming," said Bruce Kasman, chief +economist at JPMorgan, who expects another rise in March."We also look for him to continue to push back against +market pricing of rate cuts later this year."There is a lot of pushing to do given futures +currently expect rates to peak at 5% in March, only to fall back +to 4.5% by year end.The dollar index was flat ahead of the data, on +course for a fourth straight monthly loss of more than 1.5% on +growing expectations that the Fed is nearing the end of its +rate-hike cycle.APPLE'S COREYields on 10-year notes have fallen 33 basis +points so far this month to 3.50%, essentially due to easing +financial conditions even as the Fed talks tough on tightening.That dovish outlook will also be tested by data on U.S. +payrolls, the employment cost index and various ISM surveys.Reading on EU inflation could be important for whether the +ECB signals a half-point rate rise for March, or opens the door +to a slowdown in the pace of tightening.As for Wall Street's recent rally, much will depend on +earnings from Apple Inc, Amazon.com, Alphabet +Inc and Meta Platforms, among many others."Apple will give a glimpse into the overall demand story for +consumers globally and a snapshot of the China supply chain +issues starting to slowly abate," wrote analysts at Wedbush."Based on our recent Asia supply chain checks we believe +iPhone 14 Pro demand is holding up firmer than expected," they +added. "Apple will likely cut some costs around the edges, but +we do not expect mass layoffs."Market pricing of early Fed easing has been a burden for the +dollar, which has lost 1.6% so far this month to stand at +101.790 against a basket of major currencies.The euro is up 1.5% for January at $1.0878 and +just off a nine-month top. The dollar has even lost 1.3% on the +yen to 129.27 despite the Bank of Japan's dogged +defence of its ultra-easy policies.The drop in the dollar and yields has been a boon for gold, +which is up 5.8% for the month so far at $1,930 an ounce.The precious metal was flat on Monday ahead of the slew of +key central bank moves and data releases.China's rapid reopening is seen as a windfall for +commodities in general, supporting everything from copper to +iron ore to oil prices.The oil market was hesitant amid concerns the likely Fed +rate hikes could choke fuel demand, with Brent down +nearly 1% $85.88 a barrel, while U.S. crude eased 87 +cents to $78.8.(Reporting by Wayne Cole and Lawrence White; Editing by +Christopher Cushing and Arun Koyyur) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Stocks dip, U.S. yields rise ahead of central bank flurry.txt b/news/GOOGL/2023.01.30/Stocks dip, U.S. yields rise ahead of central bank flurry.txt new file mode 100644 index 0000000000000000000000000000000000000000..739ebd4dd620682774ba3b788fbd07fb3695060a --- /dev/null +++ b/news/GOOGL/2023.01.30/Stocks dip, U.S. yields rise ahead of central bank flurry.txt @@ -0,0 +1,51 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Megacap stocks lead earnings results this week*MSCI index on track for biggest January pct gain since +2019NEW YORK, Jan 30 (Reuters) - A gauge of global stocks +dipped on Monday after six sessions of gains while the yield on +the U.S. ten-year Treasury rose for a third day, ahead of +central bank policy announcements and data that may shed light +on whether progress has been made in bringing down inflation.Investors widely expect the Federal Reserve will raise rates +by 25 basis points (bps) on Wednesday, with announcements on +Thursday from the Bank of England and European Central Bank +(ECB), both of which are largely expected to hike by 50 bps."This is probably a week where we are going to have a year’s +worth of surprises possibly, so it makes sense to me there is a +little bit of profit taking, some positioning ahead of some very +important meetings but also data releases," said Brian Jacobsen, +senior investment strategist at Allspring Global Investments in +Menomonee Falls, Wisconsin."(The Fed) would rather err on the side of sounding too +hawkish but talk is cheap - they are at the point now with the +hiking cycle where what really matters is what the data says and +what the Fed delivers."The Dow Jones Industrial Average fell 89.41 points, +or 0.26%, to 33,888.67, the S&P 500 lost 36.23 points, or +0.89%, to 4,034.33 and the Nasdaq Composite dropped +200.13 points, or 1.72%, to 11,421.58.The rate increase expected at the Federal Open Market +Committee's Jan. 31-Feb. 1 meeting would bring the policy rate +to the 4.5%-4.75% range. That's two quarter-point rate hikes +short of the level most Fed policymakers in December thought +would be "sufficiently restrictive" to bring inflation under +control. But futures currently expect rates to peak at +about 4.9% in June before retreating to 4.5% by year-end.Markets will also grapple with a host of U.S. economic data, +culminating in Friday's payrolls report for January. Investors +see signs of weakening in the labor market as a key factor in +bringing down high inflation. Other data included gauges of the +manufacturing and services sectors.The U.S. corporate earnings season also remains in high +gear, with earnings this week expected from the likes of Apple +, Alphabet and Amazon. Earnings for +S&P 500 companies are expected to show a decline of 3% for the +quarter, per Refinitiv data, weaker than the 1.6% fall seen at +the start of the year.Stocks in Europe were also lower, with rate-sensitive names +such as technology shares among the primary decliners.The pan-European STOXX 600 index lost 0.30% and +MSCI's gauge of stocks across the globe shed +0.68%. MSCI's index was on track for its biggest January +percentage gain since 2019 while the STOXX 600 was poised for +its largest January percentage gain since 2015.U.S. Treasury yields rose ahead of the central bank meetings +and economic data, with the 10-year yield up for a third +consecutive session. Benchmark 10-year notes were up +2.4 basis points to 3.542%, from 3.518% late on Friday.The greenback, which was poised for its fourth month of +declines as expectation have increased the Fed was nearing the +end of its rate-hiking cycle, was up slightly.The dollar index rose 0.098%, with the euro up +0.08% to $1.0876.The Japanese yen weakened 0.34% versus the greenback to +130.31 per dollar, while Sterling was last trading at +$1.2379, down 0.15% on the day.Crude prices fell ahead of the expected hikes by central +banks and signals of strong Russian exports.U.S. crude was down 1.13% at $78.78 per barrel and +Brent was at $85.75, down 1.05% on the day.(Reporting by Chuck Mikolajczak +Editing by Bernadette Baum) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Stocks fall, U.S. yields climb as central bank hikes awaited.txt b/news/GOOGL/2023.01.30/Stocks fall, U.S. yields climb as central bank hikes awaited.txt new file mode 100644 index 0000000000000000000000000000000000000000..b3d60ba350d49becaf4045b083054e6f6f1e34fd --- /dev/null +++ b/news/GOOGL/2023.01.30/Stocks fall, U.S. yields climb as central bank hikes awaited.txt @@ -0,0 +1,56 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Megacap stocks lead earnings results this week*MSCI index on track for biggest January pct gain since +2019NEW YORK, Jan 30 (Reuters) - A gauge of global stocks +retreated on Monday after six sessions of gains while U.S. +Treasury yields rose ahead of central bank policy announcements +and data that may shed light on whether progress has been made +in bringing down inflation.Investors widely expect the Federal Reserve will raise rates +by 25 basis points (bps) on Wednesday, with announcements on +Thursday from the Bank of England and European Central Bank +(ECB), both of which are largely expected to hike by 50 bps."The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market," said Keith Lerner, co-chief +investment officer at Truist Advisory Services in Atlanta, +Georgia.On Wall Street, U.S. stocks slumped, with 10 of the 11 S&P +sectors closing lower, while Johnson & Johnson lost +3.70% after a U.S. court rejected the company's plan to offload +into bankruptcy tens of thousands of lawsuits over its talc +products.The Dow Jones Industrial Average fell 260.99 points, +or 0.77%, to 33,717.09, the S&P 500 lost 52.79 points, or +1.30%, to 4,017.77 and the Nasdaq Composite dropped +227.90 points, or 1.96%, to 11,393.81.The rate increase expected at the Federal Open Market +Committee's Jan. 31-Feb. 1 meeting would bring the policy rate +to the 4.5%-4.75% range. That's two quarter-point rate hikes +short of the level most Fed policymakers in December thought +would be "sufficiently restrictive" to bring inflation under +control. But futures currently expect rates to peak at +about 4.9% in June before retreating to 4.5% by year-end.Markets will also grapple with a host of U.S. economic data, +culminating in Friday's payrolls report for January. Investors +see signs of weakening in the labor market as a key factor in +bringing down high inflation. Other data included gauges of the +manufacturing and services sectors.The U.S. corporate earnings season also rolls on, with +earnings this week expected from Apple, Alphabet +and Amazon. Earnings for S&P 500 companies +are expected to show a decline of 3% for the quarter, according +to Refinitiv data, weaker than the 1.6% fall seen at the start +of the year.Stocks in Europe closed lower, with rate-sensitive names +such as technology shares among the primary decliners after +inflation data from Spain came in above expectations while other +data showed the German economy unexpectedly contracted in the +fourth quarter.The pan-European STOXX 600 index lost 0.17% and +MSCI's gauge of stocks across the globe shed +0.99%. MSCI's index was on track for its biggest January +percentage gain since 2019 while the STOXX 600 was poised for +its largest January percentage gain since 2015.U.S. Treasury yields rose ahead of the central bank meetings +and economic data, with the 10-year yield up for a third +consecutive session. Benchmark 10-year notes were up +2.6 basis points to 3.544%, from 3.518% late on Friday.The greenback, which was poised for its fourth month of +declines as expectation have increased the Fed was nearing the +end of its rate-hiking cycle, was up for a third straight +session against a basket of major currencies.The dollar index rose 0.334%, with the euro +down 0.17% to $1.0848.The Japanese yen weakened 0.42% versus the greenback to +130.40 per dollar, while Sterling was last trading at +$1.2345, down 0.42% on the day.Crude prices fell ahead of the expected hikes by central +banks and signals of strong Russian exports.U.S. crude settled down 2.23% at $77.90 per barrel +and Brent settled at $84.90, down 2.03% on the day.(Reporting by Chuck Mikolajczak, additional reporting by Lewis +Krauskopf +Editing by Bernadette Baum and Deepa Babington) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Stocks fall, U.S. yields climb with central banks on tap.txt b/news/GOOGL/2023.01.30/Stocks fall, U.S. yields climb with central banks on tap.txt new file mode 100644 index 0000000000000000000000000000000000000000..21f6f6d5488eea4be39d95e3b1a547c8f8eb88f6 --- /dev/null +++ b/news/GOOGL/2023.01.30/Stocks fall, U.S. yields climb with central banks on tap.txt @@ -0,0 +1,54 @@ +*Fed seen hiking 25 bps, ECB and BOE by 50 bps*Megacap stocks lead earnings results this week*MSCI index on track for biggest January pct gain since +2019NEW YORK, Jan 30 (Reuters) - A gauge of global stocks +retreated on Monday after six sessions of gains while U.S. +Treasury yields rose ahead of central bank policy announcements +and data that may shed light on whether progress has been made +in bringing down inflation.Investors widely expect the Federal Reserve will raise rates +by 25 basis points (bps) on Wednesday, with announcements on +Thursday from the Bank of England and European Central Bank +(ECB), both of which are largely expected to hike by 50 bps."It would be pretty shocking for them to come out and do +anything other than 25 on Wednesday just because it has been +priced in there and they haven’t taken the opportunity to push +back on it," said Scott Ladner, chief investment officer at +Horizon Investments in Charlotte, North Carolina."It’s not necessarily in the Fed’s best interest to forecast +a pause or pivot at this stage – they still have an inflation +number that is too high, they still have an employment situation +they believe is too tight."The Dow Jones Industrial Average fell 189.88 points, +or 0.56%, to 33,788.2, the S&P 500 lost 43.59 points, or +1.07%, to 4,026.97 and the Nasdaq Composite dropped +193.19 points, or 1.66%, to 11,428.52.The rate increase expected at the Federal Open Market +Committee's Jan. 31-Feb. 1 meeting would bring the policy rate +to the 4.5%-4.75% range. That's two quarter-point rate hikes +short of the level most Fed policymakers in December thought +would be "sufficiently restrictive" to bring inflation under +control. But futures currently expect rates to peak at +about 4.9% in June before retreating to 4.5% by year-end.Markets will also grapple with a host of U.S. economic data, +culminating in Friday's payrolls report for January. Investors +see signs of weakening in the labor market as a key factor in +bringing down high inflation. Other data included gauges of the +manufacturing and services sectors.The U.S. corporate earnings season also continues to roll +on, with earnings this week expected from the likes of Apple +, Alphabet and Amazon. Earnings for +S&P 500 companies are expected to show a decline of 3% for the +quarter, per Refinitiv data, weaker than the 1.6% fall seen at +the start of the year.Stocks in Europe closed lower, with rate-sensitive names +such as technology shares among the primary decliners after +inflation data from Spain came in above expectations while other +data showed the German economy unexpectedly contracted in the +fourth quarter.The pan-European STOXX 600 index lost 0.17% and +MSCI's gauge of stocks across the globe shed +0.85%. MSCI's index was on track for its biggest January +percentage gain since 2019 while the STOXX 600 was poised for +its largest January percentage gain since 2015.U.S. Treasury yields rose ahead of the central bank meetings +and economic data, with the 10-year yield up for a third +consecutive session. Benchmark 10-year notes were up +2.6 basis points to 3.544%, from 3.518% late on Friday.The greenback, which was poised for its fourth month of +declines as expectation have increased the Fed was nearing the +end of its rate-hiking cycle, was up for a third straight +session against a basket of major currencies.The dollar index rose 0.402%, with the euro +down 0.25% to $1.084.The Japanese yen weakened 0.51% versus the greenback to +130.51 per dollar, while Sterling was last trading at +$1.2338, down 0.48% on the day.Crude prices fell ahead of the expected hikes by central +banks and signals of strong Russian exports.U.S. crude fell 2.16% to $77.96 per barrel and Brent +was at $84.86, down 2.08% on the day.(Reporting by Chuck Mikolajczak +Editing by Bernadette Baum) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Tech drags as big week for market kicks off.txt b/news/GOOGL/2023.01.30/Tech drags as big week for market kicks off.txt new file mode 100644 index 0000000000000000000000000000000000000000..474e96e901784e33506b8f992ce089aa86aacec5 --- /dev/null +++ b/news/GOOGL/2023.01.30/Tech drags as big week for market kicks off.txt @@ -0,0 +1 @@ +The Dow closed down more than three-quarters of a percent, the S&P slid 1.3% and the Nasdaq plunged almost 2%.Liz Miller, President and Founder of Summit Place Financial Advisors, says Monday's pullback comes after an unexpectedly strong start to the year."We're into the last couple days of the month and it's been a very surprising January. We've seen not just double-digit moves off of the bottom, we've seen some stocks moving 20, 30 percent in this month alone after the lows we saw in 2022. We felt at Summit Place that 2022 was overdone and that there was plenty of upside in this market, but we expect the market to pause here, and like many professional investors, we're actually getting prepared for a more difficult February potentially - and I think that's exactly what we're seeing in the market today."Shares of Apple, Amazon and Google parent Alphabet, which are due to post results later in the week, all slumped.Tesla dropped more than 6% after weeks of rallying. The stock came under presser after Ford announced price cuts Monday on its popular Mustang Mach-E electric SUV, weeks after Tesla slashed prices up to 20% on its vehicles.And shares of Johnson & Johnson dropped 3.7% after a federal appeals court rejected the healthcare giant's strategy to use bankruptcy to resolve multibillion-dollar lawsuits over claims its talc products cause cancer. \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Tech, megacaps drag Wall St down at start of big market week.txt b/news/GOOGL/2023.01.30/Tech, megacaps drag Wall St down at start of big market week.txt new file mode 100644 index 0000000000000000000000000000000000000000..f2a3e6f20e695e456f2281e6dc64e40d3cd018ff --- /dev/null +++ b/news/GOOGL/2023.01.30/Tech, megacaps drag Wall St down at start of big market week.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Alphabet, Amazon slide ahead of earnings*Fed decision on interest rates on Wednesday*J&J falls after U.S. court rejects talc-lawsuit strategy(Adds close of U.S. market, analyst comment)NEW YORK, Jan 30 (Reuters) - Major U.S. stock indexes +sank on Monday, weighed down by declines in technology and other +megacap shares, as investors looked toward a major week of +events including central bank meetings and a slew of earnings +reports.The heavyweight tech sector was among the biggest +S&P 500 sector decliners on the day. Shares of Apple Inc +, Amazon.com Inc and Google parent Alphabet Inc +, which are due to post results later this week, all +slumped.More than 100 S&P 500 companies are expected to report +results this week, which also includes central bank meetings in +the United States and Europe and closely watched U.S. employment +data.“The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market,” said Keith Lerner, co-chief +investment officer at Truist Advisory Services.According to preliminary data, the S&P 500 lost 52.38 +points, or 1.29%, to end at 4,018.18 points, while the Nasdaq +Composite lost 227.89 points, or 1.96%, to 11,393.81. +The Dow Jones Industrial Average fell 254.47 points, or +0.75%, to 33,723.61.Despite Monday's declines, the S&P 500 was on track to post +its biggest January gain since 2019.The U.S. central bank is seen hiking the Fed funds rate by +25 basis points at the end of its two-day policy meeting on +Wednesday, following a 2022 in which the Fed aggressively +boosted rates to control soaring inflation.Fed Chair Jerome Powell's news conference will be +scrutinized for whether the rate-hiking cycle may be coming to a +close and for signs of how rates could stay elevated.“It’s probably one of the most important meetings since the +whole thing began," said Sameer Samana, senior global market +strategist at Wells Fargo Investment Institute. "Unless the Fed +extends that timeline meaningfully from what the market expects, +which is that the Fed will be done in the next meeting or two, +this may end up marking the pause, so to speak.”Meanwhile, the European Central Bank is expected to deliver +another large rate hike on Thursday.Investors are also focused on earnings reports, amid +concerns the economy may be facing a recession. With more than +140 companies having reported so far, S&P 500 earnings are +expected to have fallen 3% in the fourth quarter compared with +the prior-year period, according to Refinitiv IBES.In company news, shares of Johnson & Johnson fell +after the healthcare giant's strategy to use bankruptcy to +resolve the multibillion-dollar litigation over claims its talc +products cause cancer was rejected by a federal appeals court. +(Reporting by Lewis Krauskopf in New York, and Shreyashi Sanyal +and Johann M Cherian in Bengaluru +Editing by Anil D'Silva and Matthew Lewis) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Tech, megacaps drag Wall St lower at start of big market week.txt b/news/GOOGL/2023.01.30/Tech, megacaps drag Wall St lower at start of big market week.txt new file mode 100644 index 0000000000000000000000000000000000000000..1be0175b600c34caf949c962f5e1b00979b2a70f --- /dev/null +++ b/news/GOOGL/2023.01.30/Tech, megacaps drag Wall St lower at start of big market week.txt @@ -0,0 +1,40 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Alphabet, Amazon slide ahead of earnings*Fed decision on interest rates on Wednesday*J&J falls after U.S. court rejects talc-lawsuit strategy*Indexes down: Dow 0.37%, S&P 500 0.95%, Nasdaq 1.59%(Recasts with midafternoon trading)NEW YORK, Jan 30 (Reuters) - Major U.S. stock indexes +fell on Monday, dragged lower by declines in technology and +other megacap shares, as investors looked toward a major week of +events including central bank meetings and a slew of earnings +reports.The tech sector slumped 1.7%, with most sectors +trading lower. Shares of Apple Inc, Amazon.com Inc +and Google parent Alphabet Inc, which are all +due to post results later this week, dropped over 1%.More than 100 S&P 500 companies are expected to report +results this week, which also includes central bank meetings in +the United States and Europe and closely watched U.S. employment +data.“The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market,” said Keith Lerner, co-chief +investment officer at Truist Advisory Services.The Dow Jones Industrial Average fell 125.11 points, +or 0.37%, to 33,852.97, the S&P 500 lost 38.49 points, or +0.95%, to 4,032.07 and the Nasdaq Composite dropped +184.56 points, or 1.59%, to 11,437.15.U.S. Treasury yields rose, providing another pressure point +for tech shares that have otherwise rebounded to start the year +after a rough 2022.Despite Monday's declines, the S&P 500 was on track to post +its biggest January gain since 2019.The U.S. central bank is seen hiking the Fed funds rate by +25 basis points at the end of its two-day policy meeting on +Wednesday, following a 2022 in which the Fed aggressively hiked +rates to control soaring inflation.Fed Chair Jerome Powell's news conference will be +scrutinized for signs of how high rates may go and how long they +could stay elevated. Meanwhile, the European Central Bank is +expected to deliver another large rate hike on Thursday.Investors are also focused on earnings reports, amid +concerns the economy may be facing a recession. With more than +140 companies having reported so far, S&P 500 earnings are +expected to have fallen 3% in the fourth quarter compared with +the prior-year period, according to Refinitiv IBES.In company news, shares of Johnson & Johnson fell +over 3% after the healthcare giant's strategy to use bankruptcy +to resolve the multibillion-dollar litigation over claims its +talc products cause cancer was rejected by a federal appeals +court.Declining issues outnumbered advancing ones on the NYSE by a +1.81-to-1 ratio; on Nasdaq, a 1.73-to-1 ratio favored decliners.The S&P 500 posted five new 52-week highs and no new lows; +the Nasdaq Composite recorded 51 new highs and 14 new lows. +(Reporting by Lewis Krauskopf in New York, and Shreyashi Sanyal +and Johann M Cherian in Bengaluru +Editing by Anil D'Silva and Matthew Lewis) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Tech, megacaps drag Wall St to lower close as big market week kicks off.txt b/news/GOOGL/2023.01.30/Tech, megacaps drag Wall St to lower close as big market week kicks off.txt new file mode 100644 index 0000000000000000000000000000000000000000..c0b4c908ea6ef1fc20ce1bec65322033961c1340 --- /dev/null +++ b/news/GOOGL/2023.01.30/Tech, megacaps drag Wall St to lower close as big market week kicks off.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Apple, Alphabet, Amazon slide ahead of earnings*Fed decision on interest rates on Wednesday*J&J falls after U.S. court rejects talc-lawsuit strategy*Indexes down: Dow 0.77%, S&P 500 1.3%, Nasdaq 1.96%(Adds market details after close of trading)NEW YORK, Jan 30 (Reuters) - Major U.S. stock indexes +sank on Monday, weighed down by declines in technology and other +megacap shares, as investors looked toward a major week of +events including central bank meetings and a slew of earnings +reports.The heavyweight tech sector dropped 1.9% while +energy shed 2.3%, the biggest drop among the S&P 500 +sectors. Shares of Apple Inc, Amazon.com Inc +and Google parent Alphabet Inc, which are due to post +results later this week, all slumped.More than 100 S&P 500 companies are expected to report +results this week, which also includes central bank meetings in +the United States and Europe and closely watched U.S. employment +data.“The market has had a big run and the trading is a bit more +cautious heading into a week which likely will be an inflection +point for the overall market,” said Keith Lerner, co-chief +investment officer at Truist Advisory Services.The Dow Jones Industrial Average fell 260.99 points, +or 0.77%, to 33,717.09, the S&P 500 lost 52.79 points, or +1.30%, to 4,017.77 and the Nasdaq Composite dropped +227.90 points, or 1.96%, to 11,393.81.U.S. Treasury yields rose, providing another +pressure point for tech shares that have otherwise rebounded to +start the year after a rough 2022.Despite Monday's declines, the S&P 500 remained on track to +post its biggest January gain since 2019.The U.S. central bank is seen hiking the Fed funds rate by +25 basis points at the end of its two-day policy meeting on +Wednesday, following a 2022 in which the Fed aggressively +boosted rates to control soaring inflation.Fed Chair Jerome Powell's news conference will be +scrutinized for whether the rate-hiking cycle may be coming to a +close and for signs of how long rates could stay elevated.“It’s probably one of the most important meetings since the +whole thing began," said Sameer Samana, senior global market +strategist at Wells Fargo Investment Institute. "Unless the Fed +extends that timeline meaningfully from what the market expects, +which is that the Fed will be done in the next meeting or two, +this may end up marking the pause, so to speak.”Meanwhile, the European Central Bank is expected to deliver +another large rate hike on Thursday.Investors are also focused on earnings reports, amid +concerns the economy may be facing a recession. With more than +140 companies having reported so far, S&P 500 earnings are +expected to have fallen 3% in the fourth quarter compared with +the prior-year period, according to Refinitiv IBES.In company news, shares of Johnson & Johnson fell +3.7% after the healthcare giant's strategy to use bankruptcy to +resolve the multibillion-dollar litigation over claims its talc +products cause cancer was rejected by a federal appeals court.Declining issues outnumbered advancing ones on the NYSE by a +2.40-to-1 ratio; on Nasdaq, a 2.08-to-1 ratio favored decliners.The S&P 500 posted 5 new 52-week highs and no new lows; the +Nasdaq Composite recorded 67 new highs and 20 new lows.About 10.6 billion shares changed hands in U.S. exchanges, +compared with the 11.2 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, and Shreyashi Sanyal +and Johann M Cherian in Bengaluru +Editing by Anil D'Silva and Matthew Lewis) \ No newline at end of file diff --git a/news/GOOGL/2023.01.30/Wall Street set to open lower ahead of Fed rate decision.txt b/news/GOOGL/2023.01.30/Wall Street set to open lower ahead of Fed rate decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..3157f4f0cd064fef67e00d2984ec4b5e53c67d58 --- /dev/null +++ b/news/GOOGL/2023.01.30/Wall Street set to open lower ahead of Fed rate decision.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Megacap growth stocks lead declines*Fed decision on interest rates on Wednesday*Futures down: Nasdaq 1.13%, S&P 0.80%, Dow 0.46%Jan 30 (Reuters) - Wall Street was set to open lower on +Monday, with the tech-focused Nasdaq futures dropping more than +1%, at the start of the busiest week of the earnings season and +ahead of key central bank meetings.The U.S. Federal Reserve is seen hiking the Fed funds rate +by 25 basis points (bps) at the end of its two-day policy +meeting on Wednesday, close on the heels of economic reports +showing signs of slowing demand and cooling inflation.This will likely be the smallest rate increase since the Fed +kicked off its tightening cycle 10 months ago with a 25 bps +hike, with financial markets pricing in a final rate hike in +March."The Fed's going to continue to err on the side of caution +with respect to inflation because of the fact that it still +remains well above the 2% target ... we're seeing signs that +inflation may be coming down, but it's still not low enough," +said Adam Sarhan, chief executive of 50 Park Investments in New +York.Money markets now see rates peaking at 4.9% in June, still +below the 5% level expected by Fed policymakers.After a slew of layoffs by large-cap tech and financial +firms through the month, investors will now watch out for the +Labor Department's January nonfarm payrolls data expected on +Friday.A total of 107 S&P 500 firms are expected to report +quarterly earnings this week including heavyweight growth +companies Apple Inc, Amazon.com Inc, Alphabet +Inc and Meta Platforms Inc, all down about 1% +each in premarket trading.Analysts expect S&P 500 earnings during the fourth-quarter +to decline 2.9%, compared with the 1.6% drop expected at the +beginning of the year, according to Refinitiv data as of Friday.Data reflecting cooling inflation and a slowing economy has +raised hopes among investors that the Fed might steer away from +its hawkish rhetoric, stoking interest in growth stocks this +month, with the S&P 500 Growth index recouping more than +half its monthly losses from December.Tighter monetary policies have stood in the way of business +expansion of growth firms, which have also been pressured for +much of last year by high Treasury yields.Wall Street is expected to end the month higher with the +tech-inclined Nasdaq and the benchmark S&P 500 +recovering December losses."The month of January was a big 'up-month' on Wall Street, +led mostly by many of the big stocks that got crushed last +year," Sarhan added, noting that the decline in growth stocks on +Monday could be due to some profit-taking.At 8:48 a.m. ET, Dow e-minis were down 157 points, +or 0.46%, S&P 500 e-minis were down 32.5 points, or +0.8%, and Nasdaq 100 e-minis were down 138 points, or +1.13%.Other major central banks including the European Central +Bank and the Bank of England are also seen raising interest +rates later in the week. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru +Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOGL/2023.01.31/AMD forecasts first-quarter revenue below expectations.txt b/news/GOOGL/2023.01.31/AMD forecasts first-quarter revenue below expectations.txt new file mode 100644 index 0000000000000000000000000000000000000000..13295ed32b59c24701818c3a80227d46935a6553 --- /dev/null +++ b/news/GOOGL/2023.01.31/AMD forecasts first-quarter revenue below expectations.txt @@ -0,0 +1 @@ +The company forecast current-quarter revenue of $5.3 billion, plus or minus $300 million. Analysts on average expected revenue of $5.48 billion, according to Refinitiv data. (Reporting by Chavi Mehta in Bengaluru; Editing by Anil D'Silva) \ No newline at end of file diff --git a/news/GOOGL/2023.01.31/Asian stocks edge down as investors eye central bank hikes.txt b/news/GOOGL/2023.01.31/Asian stocks edge down as investors eye central bank hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..f50d0cc35067940de02ab4703c8234cc0a19b03a --- /dev/null +++ b/news/GOOGL/2023.01.31/Asian stocks edge down as investors eye central bank hikes.txt @@ -0,0 +1,57 @@ +Jan 31 (Reuters) - Asian shares edged down and bonds +nursed small losses on Tuesday as investors braced for an +eventful week that will include central bank meetings, a slew of +earnings reports and key U.S. economic data.Investors broadly expect the U.S. Federal Reserve to raise +interest rates by 25 basis points (bps) on Wednesday. Interest +rate announcements are due on Thursday from both the Bank of +England and the European Central Bank - and both are expected to +hike rates by 50 bps.Meanwhile, more than 100 S&P 500 companies, including Apple +, Amazon.com and Google parent Alphabet +, are expected to report results this week, which also +will see the publication of closely watched U.S. employment +numbers."It's a big week for both central banks and U.S. equities, +with ... some of the household names due to make earnings +announcements that will provide a micro overview of the macro +economy," ANZ analysts said in a note."We expect a 25 bps (U.S.) rate rise and anticipate that the +Fed will caution against an early pause in the tightening cycle +.... Risk appetite could be vulnerable to a correction."European markets were set for a lower open, with pan-region +Euro Stoxx 50 futures down 0.48%, German DAX futures +falling 0.47% and FTSE futures dropping 0.29%. +U.S. stock futures, the S&P 500 e-minis, were down 0.06%.In Asia, MSCI's broadest index of Asia-Pacific shares +outside Japan was 1.1% lower. The index is up +9.9% so far this month and is on course for its best January +performance since 2012.Japan's Nikkei stock index slid 0.23% while +Australian shares were down 0.15%.China's economic activity swung back to growth in +January, after a wave of COVID-19 infections passed through the +country faster than expected following abandonment of pandemic +controls. The official purchasing managers' index, which +measures manufacturing activity, rose to 50.1 from 47.0 in +December.Investors remained cautious, however, looking for more +signs of recovery in the pandemic-hit economy. China's blue-chip +CSI300 index was down 1% in afternoon trade after +reaching a half-year high on Monday.While Hong Kong's Hang Seng index dropped 1.23% +on Tuesday, it was still set to post its best January +performance since 1989.On Monday, U.S. stocks lost ground, with the major indexes +sinking, weighed down by declines in technology and other giant +corporations' shares.The Dow Jones Industrial Average fell 0.8% to +33,717.09, the S&P 500 lost 1.3% to 4,017.77 and the +Nasdaq Composite dropped 2.0% to 11,393.81.Despite Monday's declines, the S&P 500 remained on track to +post its biggest January gain since 2019.At the end of the Fed's two-day policy meeting on Wednesday, +investors will be glued to Chair Jerome Powell's news conference +for clues on whether the rate-hiking cycle may be coming to a +close, and for signs of how long rates could stay elevated.Markets will also grapple with a flood of U.S. economic +data, culminating in Friday's payrolls report for January. +Investors see signs of weakening in the labour market as a key +factor in bringing down high inflation.U.S. Treasury yields remained firm ahead of the central bank +meetings and economic data, with the yield on benchmark 10-year +Treasury notes US10YT=RR standing at 3.5457% compared with its +U.S. close of 3.551% on Monday.The two-year yield, which rises with traders' +expectations of higher Fed fund rates, touched 4.2424% compared +with a U.S. close of 4.261%.In currencies, the U.S. dollar, which was poised for its +fourth month of declines, was slightly up at 102.29 against a +basket of other major currencies.The European single currency was largely unchanged on +the day at $1.0841, having gained 1.3% in a month.In the energy market, oil prices fell ahead of the expected +hikes by central banks and signals of strong Russian exports.U.S. crude dipped 0.44% to $77.56 a barrel. Brent +crude fell to $84.85 per barrel.Gold was slightly lower. Spot gold was traded at +$1920.84 per ounce.(Additional reporting by Ankur Banerjee; Editing by Kenneth +Maxwell and B) \ No newline at end of file diff --git a/news/GOOGL/2023.01.31/EU studying whether Big Tech should pay network costs -EU document.txt b/news/GOOGL/2023.01.31/EU studying whether Big Tech should pay network costs -EU document.txt new file mode 100644 index 0000000000000000000000000000000000000000..6131a64c7a1f8462303ea172fbe3a01e9bbb5e72 --- /dev/null +++ b/news/GOOGL/2023.01.31/EU studying whether Big Tech should pay network costs -EU document.txt @@ -0,0 +1 @@ +EU telecoms providers including Deutsche Telekom, Orange, Telefonica and Telecom Italia say the six largest content providers account for more than half of data internet traffic and should contribute their fair share. The providers also point to Netflix Inc, Apple Inc and Microsoft Corp.The tech giants say the idea is equivalent to an internet traffic tax that could interfere with Europe's net neutrality rules treating all users equally.The commission's query is part of a 19-page document the EU executive drafted before it proposes legislation.The EU executive is expected to publish the document next week to garner feedback from telecoms operators and Big Tech, although the timing may change. The next step is an agreement with EU countries and lawmakers to finalise the legislation."Some stakeholders have suggested a mandatory mechanism of direct payments from CAPs (content application providers)/LTGs (large traffic generator) to contribute to finance network deployment. Do you support such suggestion and if so why? If no, why not?" the questionnaire asked.The questionnaire also asks who the mechanism should apply t; whether it would negatively impact innovation, the internet ecosystem and consumers; and whether the EU should create a continental or digital levy or fund.The EU will also query Big Tech and telecoms providers' investment spending and future developments, confirming a Reuters story this month."The Commission's questionnaire is basically asking questions that seek to justify the 'fair share' narrative pushed by big telcos. What is more, it seems to ignore the impact on consumers and fundamental net neutrality protections," an industry source said."The Commission is also asking for detailed business information, such as peering contracts, that is usually confidential. This effectively excludes key stakeholders from taking part. (Reporting by Foo Yun Chee; Editing by Josie Kao)By Foo Yun Chee \ No newline at end of file diff --git a/news/GOOGL/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt b/news/GOOGL/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d3f81417321caae04ff9d49cdf90aeb52759543 --- /dev/null +++ b/news/GOOGL/2023.01.31/Marketmind: 'Soft landing' or 'no landing'?.txt @@ -0,0 +1 @@ +There's an uncomfortable feeling in markets this week that good news may be bad news once again - mainly because of what the former means for this week's big central banking set pieces.As U.S. Federal Reserve's Federal Open Market Committee kicks off its two-day policymaking meeting, the economic news from around the world brightened considerably. Possibly wary of a premature easing of financial conditions before its tightening campaign is finished, some investors suspect the Fed may want to hang tough for a bit longer - stressing more needs to be done to ensure inflation is licked even as it slows the pace of rate hikes another notch to a quarter point rise on Wednesday.Another one-two of half point rate rises from the European Central Bank and Bank of England the following day adds to the trepidation, not least with Spain reminding everyone on Monday that inflation rates can re-accelerate again even after peaking.And if global recession is avoided, the hawkishness may persist. That's why China's new year bounce back from COVID-lockdowns and the euro zone dodging a downturn due to falling energy prices in a warm winter matter so much. They account for the world's second and third biggest economic areas.China's economic activity swung back to growth in January after three months of contraction, according to official business surveys released on Tuesday.The euro zone economy confounded forecasts for a quarterly contraction of gross domestic product in the final three months of 2022. Eurostat estimated GDP in the bloc rose 0.1% in Q4 despite consensus expectations for a fall of 0.1%.And if the significant energy price relief of the past two months means activity picked up further early this year, the long-standing assumptions for a winter euro zone recession will evaporate.Underlining the point, the International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly due to "surprisingly resilient" demand in the United States and Europe, easing energy costs and China's reopening.Dogged by Brexit, tax rises and serial labour strikes, Britain was the clear outlier and is the only G7 nation to have suffered a cut to its 2023 IMF, with the economy set to shrink by 0.6% this year - a sharp downgrade from the prior IMF forecast.The constellation leaves markets on the back foot as they await the big monetary policy decisions.Deep in the weeds of the latest corporate earnings season - with more than a fifth of S&P500 firms reporting this week alone and Apple, Amazon and Alphabet all due on Thursday - Wall St stock futures remain in the red after a dour start to the week on Monday. European and Asia bourses were lower too. The dollar has picked up across the board, with two-year U.S. Treasury yields giving back only some of their gains to near three-week highs on Monday.Despite the upbeat macro news, China tech stocks dropped 1.7% on media reports that the Biden administration has stopped approving licenses for U.S. companies to export most items to China's Huawei, signalling new tension in the Sino-U.S. tech war.UniCredit jumped 8.1% to the top of STOXX 600 after the giant Italian lender pledged to return 5.25 billion euros ($5.69 billion) to investors based on its 2022 results after posting its best profit in more than a decade.UBS shares fell 3% after the Swiss banking giant predicted an "uncertain" year ahead plagued by accelerating inflation and higher interest rates - even as it beat estimates, upped its dividend and proposed another $5 billion stock buyback this year.Indian billionaire Gautam Adani's $2.5 billion share sale inched closer to full subscription on Tuesday as investors pumped in funds after a tumultuous week for his group in which its stocks were pummelled by a scathing short-seller reportKey developments that may provide direction to U.S. markets later on Tuesday: * U.S. Federal Reserve's Federal Open Market Committee starts two-day meeting * U.S. Q4 employment costs, Jan consumer confidence, Chicago PMI business survey, Dallas Fed services index, Nov house prices* U.S. corp earnings: Exxon Mobil, Marathon, Pfizer, McDonald's, UPS, Amgen, Caterpillar, AMD, Stryker, Mondelez, Moody's, GM, MSCI, Electronic Arts, Spotify, Snap, Chubb, Western Digital, Juniper Networks, Boston Properties, Edwards Lifesciences, Match, Sysco, Corning, Pentair, Intl Paper, AO Smith, Dover (By Mike Dolan, editing by Ed Osmond, mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/GOOGL/2023.01.31/Marketmind: Fed games.txt b/news/GOOGL/2023.01.31/Marketmind: Fed games.txt new file mode 100644 index 0000000000000000000000000000000000000000..c9ab280cacb8700cca0f2912e0ed0460d2995cef --- /dev/null +++ b/news/GOOGL/2023.01.31/Marketmind: Fed games.txt @@ -0,0 +1 @@ +Asian stocks are primed for a green Wednesday on the heels of a broad rally on Wall Street, as a slew of economic data suggested the Federal Reserve's restrictive monetary policy is working as directed.All three major U.S. stock indexes ended bright green and notched welcome gains for the month.The tech-heavy Nasdaq posted its biggest January percentage advance in 22 years.Risk appetite was largely fueled by economic data, specifically the Employment Cost Index (ECI) which decelerated in the fourth quarter to its slowest growth in a year - yet another sign that decades-high inflation is beginning to cool.This is welcome news for the Fed, which is expected to punctuate its two-day monetary policy meeting on Wednesday with a 25 basis point hike to the Fed funds target rate, its latest salvo in its battle against inflation.Upbeat quarterly results from a handful of major industrial firms, including Exxon Mobil Corp, United Parcel Service Inc and General Motors Co added muscle to the rally.On Wednesday, market participants will digest factory and labor market data and parse the Fed's statement and Chairman Jerome Powell's remarks at the subsequent press conference. Social media bellwether Meta Platforms Inc posts results after Wednesday's bell as a prologue to Apple Inc, Amazon.com and Alphabet Inc, all slated for Thursday after the bell.Crude prices advanced after EIA data showed solid U.S. energy demand.Factory data from China showed the manufacturing sector entered expansion territory after Beijing relaxed its COVID-19 restrictions, further hinting at a global demand rebound.(The race to raise rates https://www.reuters.com/graphics/CANADA-CENBANK/zjvqjebewpx/chart_eikon.jpg)Here are some key developments that could provide more direction to markets on Tuesday:- Japan posts manufacturing PMI (Jan)- South Korea releases preliminary import/export data (Jan)- S&P Global unveils Caixin manufacturing PMI for China (Jan)- The U.S. economic reports include ISM PMI (Jan), JOLTS (Dec), ADP payrolls (Jan) and construction spending (Dec) - The U.S. Federal Reserve issues its Fed funds target rate decision at 1400 GMT (Reporting by Stephen Culp; Editing by Josie Kao)By Stephen Culp \ No newline at end of file diff --git a/news/GOOGL/2023.01.31/Norway wealth fund posts record $164 billion loss.txt b/news/GOOGL/2023.01.31/Norway wealth fund posts record $164 billion loss.txt new file mode 100644 index 0000000000000000000000000000000000000000..8a89e220e43a1565a9ca513bc1401c9063fe5e3b --- /dev/null +++ b/news/GOOGL/2023.01.31/Norway wealth fund posts record $164 billion loss.txt @@ -0,0 +1 @@ +The previous largest loss was 633 billion crowns in 2008.The fund's return on investment stood at minus 14.1% for the year, which was 0.88 percentage point better than the return on the fund's benchmark index."The market was impacted by war in Europe, high inflation, and rising interest rates. This negatively impacted both the equity market and bond market at the same time, which is very unusual," Chief Executive Nicolai Tangen said in a statement.Founded in 1996, the fund invests revenue from Norway's oil and gas sector and holds stakes in some 9,300 companies globally, owning 1.3% of all listed stocks. It also invests in bonds, unlisted real estate and renewable energy projects.($1 = 9.9752 Norwegian crowns) (Reporting by Victoria Klesty, editing by Gwladys Fouche and Terje Solsvik) \ No newline at end of file diff --git "a/news/GOOGL/2023.01.31/Snap swings to quarterly net loss, expects lower rev in Q1\302\240.txt" "b/news/GOOGL/2023.01.31/Snap swings to quarterly net loss, expects lower rev in Q1\302\240.txt" new file mode 100644 index 0000000000000000000000000000000000000000..6575b20f6a4b080414af57fb8ac521fb1c473fdf --- /dev/null +++ "b/news/GOOGL/2023.01.31/Snap swings to quarterly net loss, expects lower rev in Q1\302\240.txt" @@ -0,0 +1 @@ +The owner of photo messaging app Snapchat is the first of the major digital advertising platforms to report quarterly results, which often provide an early signal for platforms like Facebook owner Meta Platforms Inc and Alphabet's Google, which report results this week.In a letter to investors, Snap said a weakening economy, increased competition from other social media platforms and "platform policy changes" continued to hurt its business.Apple began rolling out privacy changes on iPhones in 2021 that have limited advertisers' ability to collect data for targeted advertising. "We expect the headwinds we have faced over the past year to persist throughout Q1," the company said in a letter to investors.Snap's net loss was $288 million during the quarter, down from net income of $23 million the previous year. Revenue for the fourth quarter ended Dec. 31 was $1.3 billion, flat from the prior-year quarter and in line with analyst expectations. Snap will host an investor day on Feb. 16 to detail its plan to move forward after announcing in August that it would lay off 20% of its staff and discontinue experimental projects like a drone camera to cut costs.The tech sector has been hammered in recent months amid record-high inflation and expectations of a recession. Shares of the Santa Monica, California-based company are down 65% over the past year.Daily active users on Snapchat rose 17% year-over-year to 375 million, beating analyst expectations of 374 million, according to IBES data from Refinitiv. In its letter to investors, the company said its internal forecast assumes a 2% to 10% revenue decline in the first quarter compared to a year ago, and said revenue is currently down 7% so far in the quarter.Snap forecast daily active users in the first quarter between 382 million and 384 million. (Reporting by Sheila Dang in Dallas; Editing by Nick Zieminski)By Sheila Dang \ No newline at end of file diff --git a/news/GOOGL/2023.01.31/Stocks gain, yields dip after U.S. data; Fed eyed.txt b/news/GOOGL/2023.01.31/Stocks gain, yields dip after U.S. data; Fed eyed.txt new file mode 100644 index 0000000000000000000000000000000000000000..490895b8e6964d0202b2bc59f9424d3d13c1da44 --- /dev/null +++ b/news/GOOGL/2023.01.31/Stocks gain, yields dip after U.S. data; Fed eyed.txt @@ -0,0 +1,49 @@ +*U.S. Federal Reserve policy decision awaited*ECB, BoE policy announcements due Thursday*MSCI index set for biggest January pct gain since 2019*U.S. labor costs growth slows in Q4NEW YORK, Jan 31 (Reuters) -A gauge of global stocks advanced on Tuesday as it closed +out a strong month while U.S. Treasury yields fell as investors +assessed economic data and earnings reports ahead of a run of +central bank policy announcements.On Wall Street, U.S. stocks rallied and closed higher, +reversing declines in equity futures after data showed labor +cost growth in the fourth quarter was the smallest in a year, at +1.0%, even in a tight labor market. Other data showed consumer +confidence eased in January, as inflation expectations for the +next 12 months climbed to 6.8% from 6.6% last month.The Federal Reserve is widely expected to raise interest +rates by 25 basis points (bps) at the conclusion of its two-day +policy meeting on Wednesday. Investors will closely monitor +comments from Fed Chair Jerome Powell following the announcement +for clues on the path of monetary policy."Especially ahead of a Fed press conference, something like +this equity market rally is kind of explicitly against what they +want, and they have been pretty clear the market rallying on +what they expect the Fed to do is counter-productive," said Ross +Mayfield, investment strategist at Baird in Louisville, +Kentucky."We do feel like we’ve gotten a bit ahead of ourselves here +even if we are closer to the end of the Fed hiking cycle than +the beginning."The Dow Jones Industrial Averagerose 368.95 points, or 1.09%,to34,086.04, the S&P 500gained 58.83 points, or 1.46%,to4,076.6, and the Nasdaq Compositeadded 190.74 points, or 1.67%,to11,584.55.The S&P 500 closed up 6.2% for the month, its first +January gain since 2019, while the Nasdaq surged 10.7% for its +biggest percentage gain for the month of January since 2001.Interest rate announcements from the Bank of England and the +European Central Bank are scheduled for Thursday, with both seen +as likely to hike rates by 50 basis points.Markets will also grapple with a host of U.S. economic data +this week, culminating in Friday's payrolls report for January. +Investors see signs of weakening in the labor market as a key +factor in bringing down high inflation. Other data this week +include gauges of the manufacturing and services sectors.In addition, more than 100 S&P 500 companies, including +market heavyweights Apple Inc, Amazon.com Inc +and Google parent Alphabet, are scheduled to report +results this week.Despite the strong equity rally, Caterpillar and +McDonald's both lost ground on Tuesday following their +quarterly results. However, Exxon Mobil rose after posting a $56 +billion net profit for 2022.European shares retreated ahead of the central bank meetings +to end the month on a down note, but still notched their biggest +January percentage gain since 2015. Economic data for the euro +zone showed slight growth for the fourth quarter, but further +weakness is expected this year.The pan-European STOXX 600 index lost 0.26%, and +MSCI's gauge of stocks across the globe gained +0.72%. MSCI's index was on pace for its biggest January +percentage gain since 2019.Benchmark U.S. 10-year notes were down 3.5 basis +points to 3.516% in the wake of the data, after hitting a +two-week high of 3.574% on Monday.In currencies, the U.S. dollar index, poised for a +fourth month of declines, fell 0.176%, with the euro up +0.22% to $1.0868.Oil prices recovered from earlier lows, as U.S. crude +settled up 1.2% at $78.87 per barrel and Brent settled +at $84.49, down 0.48% on the day.(Reporting by Chuck Mikolajczak; additional reporting by Lisa +Pauline Mattackal; editing by Diane Craft, Leslie Adler and +Deepa Babington) \ No newline at end of file diff --git a/news/GOOGL/2023.01.31/Stocks up, yields dip after U.S. data; Fed on deck.txt b/news/GOOGL/2023.01.31/Stocks up, yields dip after U.S. data; Fed on deck.txt new file mode 100644 index 0000000000000000000000000000000000000000..24ce283c784fb5e642f751d99da6fe0e9f3a1c7f --- /dev/null +++ b/news/GOOGL/2023.01.31/Stocks up, yields dip after U.S. data; Fed on deck.txt @@ -0,0 +1,45 @@ +*U.S. Federal Reserve policy decision awaited*ECB, BoE policy announcements due Thursday*MSCI index on pace for biggest January pct gain since 2019*U.S. labor costs growth slows in Q4NEW YORK, Jan 31 (Reuters) -A gauge of global stocks rose on Tuesday while U.S. Treasury +yields mostly fell as investors assessed economic data and +earnings reports ahead of a run of central bank policy +announcements.On Wall Street, U.S. stocks were higher, reversing declines +in equity futures after data showed labor cost growth in the +fourth quarter was the smallest in a year, at 1.0%, even in a +tight labor market. Other data showed consumer confidence eased +in January, as inflation expectations for the next 12 months +climbed to 6.8% from 6.6% last month.The Federal Reserve is widely expected to raise interest +rates by 25 basis points (bps) at the conclusion of its two-day +policy meeting on Wednesday. Investors will closely monitor +comments from Fed Chair Jerome Powell following the announcement +for clues on the path of monetary policy."The Fed tomorrow will have to strike a delicate balance in +signaling slowing in the pace of rate increases, while at the +same time emphasizing that they're not done yet with tightening +rates," Oscar Munoz, U.S. macro strategist at TD Securities, +told the Reuters Global Markets Forum."It has to acknowledge the recent improvement in the +inflation data, but also note that the job's not done yet +despite the recent good news."The Dow Jones Industrial Averagerose 228.15 points, or 0.68%,to33,945.24, the S&P 500gained 37.97 points, or 0.95%,to4,055.74, and the Nasdaq Compositeadded 137.22 points, or 1.2%,to11,531.04.The S&P 500, up about 5.2% for the month, is on track +for its first January gain since 2019.Interest rate announcements from the Bank of England and the +European Central Bank are scheduled for Thursday, with both seen +as likely to hike rates by 50 basis points.Markets will also grapple with a host of U.S. economic data +this week, culminating in Friday's payrolls report for January. +Investors see signs of weakening in the labor market as a key +factor in bringing down high inflation. Other data this week +include gauges of the manufacturing and services sectors.In addition, more than 100 S&P 500 companies, including +market heavyweights Apple Inc, Amazon.com Inc +and Google parent Alphabet, are scheduled to report +results this week.Caterpillar and McDonald's both lost ground +on Tuesday following their quarterly results. However, Exxon +Mobil rose after posting a $56 billion net profit for 2022.European shares retreated ahead of the central bank meetings +to end the month on a down note, but still notched their biggest +January percentage gain since 2015. Economic data for the euro +zone showed slight growth for the fourth quarter, but further +weakness is expected this year.The pan-European STOXX 600 index lost 0.26%, and +MSCI's gauge of stocks across the globe gained +0.39%. MSCI's index was on pace for its biggest January +percentage gain since 2019.Benchmark U.S. 10-year notes were down 2.9 basis +points to 3.522% in the wake of the data, after hitting a +two-week high of 3.574% on Monday.In currencies, the U.S. dollar index, on track for a +fourth month of declines, fell 0.196%, with the euro up +0.22% to $1.0868.Oil prices recovered from earlier lows, as U.S. crude +recently rose 0.81% to $78.53 per barrel and Brent was +at $84.47, down 0.51% on the day.(Reporting by Chuck Mikolajczak; additional reporting by Lisa +Pauline Mattackal; editing by Diane Craft and Leslie Adler) \ No newline at end of file diff --git a/news/GOOGL/2023.01.31/Wall St gains after encouraging inflation data with Fed next.txt b/news/GOOGL/2023.01.31/Wall St gains after encouraging inflation data with Fed next.txt new file mode 100644 index 0000000000000000000000000000000000000000..c450f8e0aa612d7827a0ec8023bb4737f2c50056 --- /dev/null +++ b/news/GOOGL/2023.01.31/Wall St gains after encouraging inflation data with Fed next.txt @@ -0,0 +1,47 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. labor cost growth slows in fourth quarter*McDonald's, Caterpillar slip after earnings*Exxon, GM, UPS rise after their results*Fed decision on interest rates on Wednesday(Recasts with close of U.S. trading)NEW YORK, Jan 31 (Reuters) - Major U.S. stock indexes +closed higher on Tuesday as labor cost data encouraged investors +about the Federal Reserve's aggressive approach to taming +inflation a day ahead of the central bank's critical policy +decision.Investors also digested a full plate of earnings reports, +including share-price gains in Exxon Mobil Corp and +United Parcel Service Inc following their results, +countered by declines in Caterpillar Inc and McDonald's +Corp.U.S. labor costs increased at their slowest pace in a year +in the fourth quarter as wage growth slowed, Labor Department +data showed. The U.S. central bank on Wednesday is expected to +hike the Fed funds rate by 25 basis points, following a 2022 in +which the Fed aggressively boosted rates to control soaring +inflation.The labor cost data is "indicating that maybe what the Fed +has done is working and ... we’re rounding the corner on +interest rate hikes," said Peter Tuz, president of Chase +Investment Counsel in Charlottesville, Virginia.According to preliminary data, the S&P 500 +gained 59.39 points, or 1.48%, to end at 4,077.16 points, +while the Nasdaq Composite gained 190.99 points, or +1.68%, to 11,584.55. The Dow Jones Industrial Average +rose 371.04 points, or 1.10%, to 34,088.13.The S&P 500 posted its first increase for the month of +January since 2019, following a brutal 2022 in which the +benchmark index sank 19.4%.Aside from the Fed's rate decision on Wednesday, Chair +Jerome Powell's news conference will be scrutinized for whether +the rate-hiking cycle may be coming to a close and for signs of +how long rates could stay elevated."Jerome Powell and team are probably looking at this easing +of financial conditions that has happened over the last month, +and we will see if they try to push back against it to any +extent," said Mona Mahajan, senior investment strategist at +Edward Jones. "I don’t think they would want markets to move up +too far, too fast either."In earnings news, Exxon Mobil shares rose after the oil +major posted a $56 billion net profit for 2022, setting not only +a company record but a historic high for the Western oil +industry.United Parcel Service shares climbed after its quarterly +profit topped estimates, while General Motors Co shares +jumped after it forecast stronger-than-expected earnings for +2023.Caterpillar shares sank as the machinery maker's +fourth-quarter earnings slid by 29%. McDonald's shares dropped +after the burger chain warned inflation will weigh on margins in +2023.A busy week for markets will also include reports in coming +days from Apple Inc, Amazon.com Inc and +Alphabet Inc, central bank meetings in Europe and the +monthly U.S. employment report. +(Reporting by Lewis Krauskopf in New York, and Johann M Cherian +and Shreyashi Sanyal in Bengaluru +Editing by Maju Samuel and Matthew Lewis) \ No newline at end of file diff --git a/news/GOOGL/2023.01.31/Wall St gains over 1% after encouraging inflation data with Fed next.txt b/news/GOOGL/2023.01.31/Wall St gains over 1% after encouraging inflation data with Fed next.txt new file mode 100644 index 0000000000000000000000000000000000000000..ccf20e79254c085379b7f18f65981c63a9c1dc9f --- /dev/null +++ b/news/GOOGL/2023.01.31/Wall St gains over 1% after encouraging inflation data with Fed next.txt @@ -0,0 +1,52 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nasdaq posts biggest January gain since 2001*U.S. labor cost growth slows in fourth quarter*Exxon, UPS rise after results, Caterpillar slumps*Fed decision on interest rates on Wednesday*Indexes up: Dow 1.09%, S&P 500 1.46%, Nasdaq 1.67%(Adds further market data)NEW YORK, Jan 31 (Reuters) - Major U.S. stock indexes +closed over 1% higher on Tuesday as labor cost data encouraged +investors about the Federal Reserve's aggressive approach to +taming inflation a day ahead of the central bank's critical +policy decision.Investors also digested a full plate of earnings reports. +Shares of Exxon Mobil Corp and United Parcel Service Inc +rose following their respective results, while +Caterpillar Inc and McDonald's Corp ended weaker +after their results.The S&P 500 tallied its first January increase since 2019, +gaining 6.2%, while the tech-heavy Nasdaq jumped 10.7% for the +month - its biggest January percentage rise since 2001.U.S. labor costs increased at their slowest pace in a year +in the fourth quarter as wage growth slowed, Labor Department +data showed. The U.S. central bank on Wednesday is expected to +hike the Fed funds rate by 25 basis points, following a 2022 in +which the Fed aggressively boosted rates to control soaring +inflation.The labor cost data is "indicating that maybe what the Fed +has done is working and ... we’re rounding the corner on +interest rate hikes," said Peter Tuz, president of Chase +Investment Counsel in Charlottesville, Virginia.The Dow Jones Industrial Average rose 368.95 points, +or 1.09%, to 34,086.04, the S&P 500 gained 58.83 points, +or 1.46%, to 4,076.6 and the Nasdaq Composite added +190.74 points, or 1.67%, to 11,584.55.All 11 S&P 500 sectors ended in positive territory, led by +materials and consumer discretionary, both +up over 2%.Aside from the Fed's rate decision on Wednesday, Chair +Jerome Powell's news conference will be scrutinized for whether +the rate-hiking cycle may be coming to a close and for signs of +how long rates could stay elevated."Jerome Powell and team are probably looking at this easing +of financial conditions that has happened over the last month, +and we will see if they try to push back against it to any +extent," said Mona Mahajan, senior investment strategist at +Edward Jones. "I don’t think they would want markets to move up +too far, too fast either."In earnings news, Exxon Mobil shares rose 2.2% after the oil +major posted a $56 billion net profit for 2022, setting not only +a company record but a historic high for the Western oil +industry.United Parcel Service shares climbed 4.7% after its +quarterly profit topped estimates, while General Motors Co +shares jumped 8.3% after it forecast +stronger-than-expected earnings for 2023.Caterpillar shares sank 3.5% as the machinery maker's +fourth-quarter earnings slid by 29%. McDonald's shares dropped +1.3% after the burger chain warned inflation will weigh on +margins in 2023.A busy week for markets will also include reports in coming +days from Apple Inc, Amazon.com Inc and +Alphabet Inc, central bank meetings in Europe and the +monthly U.S. employment report.Advancing issues outnumbered declining ones on the NYSE by a +4.91-to-1 ratio; on Nasdaq, a 3.12-to-1 ratio favored advancers.The S&P 500 posted 10 new 52-week highs and no new lows; the +Nasdaq Composite recorded 100 new highs and 25 new lows.About 12 billion shares changed hands in U.S. exchanges, +compared with the 11.4 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, and Johann M Cherian +and Shreyashi Sanyal in Bengaluru +Editing by Maju Samuel and Matthew Lewis) \ No newline at end of file diff --git a/news/GOOGL/2023.01.31/Wall Street rises after encouraging inflation data with Fed on deck.txt b/news/GOOGL/2023.01.31/Wall Street rises after encouraging inflation data with Fed on deck.txt new file mode 100644 index 0000000000000000000000000000000000000000..9f256254218edc6f2d77dd49de581dbf2293daf9 --- /dev/null +++ b/news/GOOGL/2023.01.31/Wall Street rises after encouraging inflation data with Fed on deck.txt @@ -0,0 +1,48 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. labor costs growth slows in fourth quarter*McDonald's, Caterpillar slip after earnings*Exxon, GM, UPS rise after their results*Fed decision on interest rates on Wednesday*Indexes up: Dow 0.48%, S&P 500 0.73%, Nasdaq 0.95%(Adds midafternoon trading)NEW YORK, Jan 31 (Reuters) - Major U.S. stock indexes +rose on Tuesday as labor cost data encouraged investors about +the Federal Reserve's aggressive approach to taming inflation a +day ahead of the central bank's critical policy decision.Investors also digested a full plate of earnings reports, +with share declines in Caterpillar and McDonald's +following their results capping gains on the Dow.U.S. labor costs increased at their slowest pace in a year +in the fourth quarter as wage growth slowed, Labor Department +data showed. The U.S. central bank on Wednesday is expected to +hike the Fed funds rate by 25 basis points, following a 2022 in +which the Fed aggressively boosted rates to control soaring +inflation."The fact that we have had goods inflation cooling, we have +had housing cool, and the last shoe to drop is probably this +labor services inflation – we may be getting early indications +of that," said Mona Mahajan, senior investment strategist at +Edward Jones.The Dow Jones Industrial Average rose 163.23 points, +or 0.48%, to 33,880.32, the S&P 500 gained 29.51 points, +or 0.73%, to 4,047.28 and the Nasdaq Composite added +107.90 points, or 0.95%, to 11,501.72.Gains were widespread, with 10 of the 11 S&P 500 sectors in +positive territory, led by materials and consumer +discretionary. Utilities were the lone +sector logging a decline.The S&P 500 was on track to post its first increase for the +month of January since 2019, following a brutal 2022 in which +the benchmark index sank 19.4%.Aside from the Fed's rate decision on Wednesday, Chair +Jerome Powell's news conference will be scrutinized for whether +the rate-hiking cycle may be coming to a close and for signs of +how long rates could stay elevated."Jerome Powell and team are probably looking at this easing +of financial conditions that has happened over the last month, +and we will see if they try to push back against it to any +extent," Mahajan said. "I don’t think they would want markets to +move up too far, too fast either."In earnings news, Exxon Mobil Corp shares rose 2% +after the oil major posted a $56 billion net profit for 2022, +setting not only a company record but a historic high for the +Western oil industry.United Parcel Service Inc shares climbed 4.4% after +its quarterly profit topped estimates, while General Motors Co +shares jumped 8% after it forecast stronger-than-expected +earnings for 2023.Caterpillar Inc shares slumped over 3% as the machinery +maker's fourth-quarter earnings slid by 29%. McDonald's shares +slumped 1.8% after the burger chain warned inflation will weigh +on margins in 2023.A busy week for markets will also include reports in coming +days from Apple Inc, Amazon.com Inc and +Alphabet Inc, central bank meetings in Europe and the +monthly U.S. employment report.Advancing issues outnumbered declining ones on the NYSE by a +4.28-to-1 ratio; on Nasdaq, a 3.11-to-1 ratio favored advancers.The S&P 500 posted 6 new 52-week highs and no new lows; the +Nasdaq Composite recorded 73 new highs and 19 new lows. +(Reporting by Lewis Krauskopf in New York, and Johann M Cherian +and Shreyashi Sanyal in Bengaluru +Editing by Maju Samuel and Matthew Lewis) \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/Analysis-Hawkish Fed could hobble volatility funds' stock buying spree.txt b/news/GOOGL/2023.02.01/Analysis-Hawkish Fed could hobble volatility funds' stock buying spree.txt new file mode 100644 index 0000000000000000000000000000000000000000..7af63222a92ceba088695c458dca1aa8c6e6a08b --- /dev/null +++ b/news/GOOGL/2023.02.01/Analysis-Hawkish Fed could hobble volatility funds' stock buying spree.txt @@ -0,0 +1 @@ +The S&P 500's 6.2% surge in January has been accompanied by a drop in measures of volatility across the board. Daily swings in the index over the past month were the smallest since early 2022, while the Cboe Volatility Index also stands near a one-year low. The drop in market gyrations has triggered a buy-signal for certain computer-driven strategies including volatility control funds, risk parity funds and Commodity Trading Advisors (CTAs). GRAPHIC: Volatility drop https://www.reuters.com/graphics/USA-STOCKS/gdvzqdqdxpw/chart.png Broadly known as systematic strategies, these funds have been scooping up between $1 billion and $2 billion a day in U.S. stocks, according to BNP Paribas estimates, helping drive an equity rally that has come despite worries that a hawkish Fed will plunge the U.S. economy into recession."This has definitely been more a flow-driven rally than a shift in the overall fundamental backdrop," said Max Grinacoff, U.S. equity and derivatives strategist at BNP Paribas.Grinacoff estimates these types of funds could deploy another $50 billion-$60 billion of additional buying over the course of a month if realized volatility - a measure of daily stock swings - halves from its current level of around 16%, a level of calm unseen in U.S. stocks since late 2021.Of course, the market will have to navigate a plethora of risks ahead - most prominently the Fed, which concludes its monetary policy meeting on Wednesday. Signs that the central bank is unlikely to pull back on its hawkish monetary policy outlook despite evidence of slowing inflation and softness in the economy could exacerbate recession fears and reignite volatility, forcing the funds to taper purchases or even start selling. Markets widely expect the central bank to raise borrowing costs by another 25 basis points to between 4.50% and 4.75%.Other potential pitfalls include earnings from some of the largest U.S. companies this week, including Apple Inc, Alphabet Inc and Meta Platforms Inc, as well as the closely watched U.S. nonfarm payrolls report on Friday."As we think that technical factors may have played a large role in the market performance so far this year, we expect this to eventually wane as fundamental factors resume the dominant position as market drivers," Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note on Tuesday.FAVORABLE CONDITIONSInvestors said conditions were supportive of a rally at the beginning of the year. The S&P 500's 19.4% drop last year, its worst annual percentage decline since 2008, had prompted market participants - including various volatility-linked strategies - to cut their equity allocations to historically low levels. "We have this trifecta of seemingly depressed equity positioning across three major investor groups: vol target funds, CTAs and hedge funds," said Anand Omprakash, head of derivatives quantitative strategy at Elevation Securities.Volatility control funds have raised their equity allocation to a nine-month high of 57.7%, strategists at Deutsche Bank wrote on Friday.Grinacoff, of BNP Paribas, estimates volatility control funds have assets of about $275 billion, while CTAs, not all of which have a volatility control strategy, as a group have $800 billion allocated across strategies.While that is modest relative to the roughly $34 trillion value of the S&P 500 alone, such funds bear watching since they buy in rising markets and sell when stocks tumble, and can potentially exacerbate downside moves as well as rallies. To be sure, while volatility has fallen from last year's peaks, when the VIX rose as high as 36.55, current levels remain above the index's long-term average, a sign that options investors are likely mindful of the risks ahead, said Garrett DeSimone, head of quantitative research at OptionMetrics."Market volatility measured by VIX remains stuck above the 18 level, which is its long-term average. This indicates a slight anxiety regarding macro outcomes on future volatility," he said. (Reporting by Saqib Iqbal Ahmed in New York; Editing by Ira Iosebashvili and Matthew Lewis)By Saqib Iqbal Ahmed \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/Biden moves to slash U.S. credit card fees, app charges.txt b/news/GOOGL/2023.02.01/Biden moves to slash U.S. credit card fees, app charges.txt new file mode 100644 index 0000000000000000000000000000000000000000..6678834ea969ce47d3ca963f138604dcce6b678f --- /dev/null +++ b/news/GOOGL/2023.02.01/Biden moves to slash U.S. credit card fees, app charges.txt @@ -0,0 +1 @@ +President Joe Biden was also set to urge Congress to ban hidden "junk fees" and penalties that a federal consumer watchdog says are creeping into everyday retail services across industries, driving up consumer costs, including fees airlines charge for family members to sit next to young children, White House officials said.Biden has been beating the drum on inflation, criticizing Republicans who now control the House of Representatives for backing tax measures that he said would benefit the wealthy at the expense of middle-class taxpayers. Biden, who is expected to announce a bid for re-election in the coming weeks, has also been slamming Republicans for their refusal to approve an increase in the U.S. debt ceiling unless there is a deal on spending cuts. Wednesday's announcement coincides with a scheduled meeting between Biden and House Speaker Kevin McCarthy that is likely to mark the start of protracted maneuvering on raising the $31.4 trillion borrowing cap.The Consumer Financial Protection Bureau will propose on Wednesday a rule to ban "excessive" fees that credit card issuers charge for late payments, something the bureau estimated costs consumers $12 billion a year."When someone misses a credit card payment, even if they paid just a day or two late, or even a few hours, they can be hit with a cascading series of fees," CFPB Director Rohit Chopra told reporters in a Tuesday call.Chopra said such fees far exceeded any additional costs that lenders incurred and said the rule would cap a regulatory threshold at $8, a level indicated by CFPB data analysis.Chopra said that after a comment period, the rule could take effect in 2024. However, regulations are frequently subject to challenge and litigation by industry groups that can block or delay them.The National Telecommunications and Information Administration (NTIA), an arm of the Commerce Department, is releasing a report denouncing the market dominance enjoyed by Apple and Google in the app economy, where the vast majority of smartphone users and developers are hemmed inside the tech giants' software ecosystems, which the NTIA said drives up costs and limits innovation.The report calls for greater user control over which applications are available, an end to platform operators' "self-preference" for their own apps, and a ban on requirements that apps use the operators' in-app payments systems.The White House said the Transportation Department on Wednesday will propose regulations to bar airlines from charging family members to be seated next to children age 13 or younger. The department will disclose on a government dashboard which airlines do not charge such fees. Wednesday's announcements will mark the fourth meeting of Biden's Competition Council, created in 2021 when consumer inflation was at 40-year highs and was widely seen as a political headwind ahead of the 2022 midterm elections. (Reporting by Douglas Gillison and David Shepardson; Editing by Leslie Adler)By Douglas Gillison \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/EU may miss gigabit target, more investments needed, telecoms group says.txt b/news/GOOGL/2023.02.01/EU may miss gigabit target, more investments needed, telecoms group says.txt new file mode 100644 index 0000000000000000000000000000000000000000..777ebec9422b2c8bfb868164f0b4ef2ce54fa34e --- /dev/null +++ b/news/GOOGL/2023.02.01/EU may miss gigabit target, more investments needed, telecoms group says.txt @@ -0,0 +1,31 @@ +BRUSSELS, Feb 1 (Reuters) - The European Union risks +missing its target to connect all European households to a +gigabit network by 2030, underscoring the need for more +investments, according to a study commissioned by telecoms +lobbying group ETNO.The study by Analysys Mason comes as the bloc considers the +possibility of getting Alphabet Inc's Google, Meta +, Amazon.com Inc, Netflix , Apple +and Microsoft to bear some of the network +costs.Deutsche Telekom, Orange, Telefonica +, Telecom Italia and their peers say this +should be seen as a fair share contribution from the six content +providers which account for more than half of data internet +traffic.Big Tech sees it as an internet traffic tax at odds with EU +net neutrality rules treating all users equally, saying that +they also invest in their own content delivery networks.Total telecom investment in Europe peaked at 56.3 billion +euros in 2021, the highest since 2016, but still lagged behind +other regions, the report said."Europe continues to trail its peers worldwide in terms of +telecoms investment. Investment per capita adjusted to GDP was +104 euros in Europe in 2021 compared with 260 euros in Japan, +150 euros in the United States and 110 euros in China," the +study said."More investment capacity is needed to accelerate +innovation, but the established current trends place additional +pressure on many operators to sell or separate service and +innovation-related assets," it said.The study also noted the large gap between the returns on +investment for telecoms operators and those for Big Tech."There is an acute discrepancy between the returns on +investment in European telecoms infrastructure and the returns +on investment of the largest services that run over this +infrastructure," it said."When it comes to internet access, it is telecoms operators +that shoulder the investment burden, while in terms of new value +creation it is tech companies that benefit the most." +(Reporting by Foo Yun Chee, Editing by Louise Heavens) \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/End of easy-cash era is going to hurt.txt b/news/GOOGL/2023.02.01/End of easy-cash era is going to hurt.txt new file mode 100644 index 0000000000000000000000000000000000000000..79a617faba3578dc57c0f2a9f0450deec492b2e0 --- /dev/null +++ b/news/GOOGL/2023.02.01/End of easy-cash era is going to hurt.txt @@ -0,0 +1 @@ +U.S. and UK central banks are unwinding stimulus further by offloading bonds they hold, and the European Central Bank will join them soon. Nomura estimates the balance sheets of the three banks will shrink by $3 trillion this year.Graphic: Bloated central bank balance sheets start to shrink https://www.reuters.com/graphics/GLOBAL-MARKETS/znpnbkeaypl/chart.pngTech stocks and crypto currencies look vulnerable. They are among risky assets that soared as cash pumped out by central banks fighting weak inflation in recent years searched for a home."When you have unprecedented monetary tightening, the likelihood is that you get issues that are uncovered - that might be something hidden such as liquidity or something more obvious like pressures in the housing market," said Zurich Insurance Group chief market strategist Guy Miller. We look at some potential pressure points.1/ DARLINGS NO MORE Once darlings of the easy-cash era, tech stocks are being shunned by many investors even after a January bounce as higher rates make it more expensive to take punts on the potential earnings growth of early stage or speculative businesses.When economic uncertainty is high, investors often look for reliable returns from dividends to safeguard portfolios. That makes the likes of tech stalwarts such as Apple, whose shares trade on a dividend yield of less than 1%, look vulnerable. "We're at a stage where very elevated valuations in markets have collided with much less supportive policy," said James Harries, senior fund manager at Troy Asset Management. "So, the outlook is darkening."Tech firms are reversing pandemic-era exuberance, cutting jobs after years of hiring sprees. Google owner Alphabet plans to axe about 12,000 workers; Microsoft, Amazon and Meta are firing almost 40,000. Graphic: Big tech's earnings growth put to the test https://www.reuters.com/graphics/GLOBAL-MARKETS/mypmogzgmpr/chart.png 2/ DEFAULT RISKSConcerns about corporate defaults are mounting as rates rise, although recession worries have eased.S&P Global said Europe had the second-highest default count last year since 2009. It expects U.S. and European default rates to reach 3.75% and 3.25%, respectively, in September 2023 versus 1.6% and 1.4% a year before, with pessimistic forecasts of 6.0% and 5.5% not "out of the question."Man GLG portfolio manager Michael Scott said markets have not fully priced in the risk of higher defaults. Graphic: Corporate default rate may double in 2023 https://www.reuters.com/graphics/GLOBAL-STRESS/dwpkdegzdvm/chart.png3/ GOING PRIVATEPrivate debt markets have ballooned since the financial crisis to $1.4 trillion from $250 billion in 2010.The largely floating-rate nature of the financing appeals to investors, who can reap returns in high single to low double digits, and became popular as plunging rates post-2008 boosted risk assets.Now, a reality check: higher rates imply a heavier burden for companies as recession looms, casting a shadow over their ability to generate sufficient cash to pay ballooning interest costs."What surprises me is that you're almost back to complacency," said Will Nicole, CIO of Private and Alternative Assets at M&G Investments. "We've gone from a position where three months ago everybody was talking about a credit cycle coming through for the first time in decades and now people appear to have forgotten that." Graphic: Direct lending stellar growth https://www.reuters.com/graphics/GLOBAL-CREDIT/PRIVATE/lbpgggwlnpq/chart.png4/CRYPTO WINTER Rising borrowing costs roiled crypto markets in 2022. The price of bitcoin plunged 64% and around $1.3 trillion was wiped off the global cryptocurrency market cap.Bitcoin has rallied recently but caution remains. The collapse of various dominant crypto companies, most notably FTX, left investors shouldering large losses and prompted calls for more regulation.January brought a fresh wave of job cuts as firms brace for the so-called crypto winter, while the lending unit of Genesis recently filed for U.S. bankruptcy protection, owing creditors at least $3.4 billion. Graphic: Pain in crypto land https://www.reuters.com/graphics/GLOBAL-MARKETS/lgpdknmayvo/chart.png5/FOR SALEReal estate markets, first responders to rate hikes, started cracking last year and 2023 will be tough with U.S. house prices expected to drop 12%.Fund managers surveyed by BofA see China's troubled real estate sector as the second most likely source of a credit event. European real estate is reporting distress levels not seen since 2012, according to data from law firm Weil, Gotshal & Manges.How the sector services its debt is in focus and officials warn European banks risk significant profit hits from sliding house prices.Real estate investment management firm AEW estimates the UK, France and Germany could face a 24 billion euro debt funding gap through 2025. Luckily, bank balance sheets are better positioned to absorb losses, so few expect a 2008 repeat. Graphic: Distress in Europe's real estate sector rises https://www.reuters.com/graphics/GLOBAL-STRESS/byprlryzbpe/chart.png($1 = 0.9192 euros) (Reporting by Chiara Elisei, Dhara Ranasinghe, Naomi Rovnick, Elizabeth Howcroft and Yoruk Bahceli; Graphics by Kripa Jayaram and Vincent Flasseur; Editing by Dhara Ranasinghe and Christina Fincher) \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/European telecoms' advertising venture set for EU approval -sources.txt b/news/GOOGL/2023.02.01/European telecoms' advertising venture set for EU approval -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..b6cb7ea9812dd56ae3deebbcafb7344f6298cca4 --- /dev/null +++ b/news/GOOGL/2023.02.01/European telecoms' advertising venture set for EU approval -sources.txt @@ -0,0 +1,25 @@ +(Adds European Commission, Vodafone decline comment, Telefonica +comment, no immediate comment from others, details)BRUSSELS, Feb 1 (Reuters) - Deutsche Telekom, +Orange, Telefonica and Vodafone's +plan to take on Big Tech with their own advertising joint +venture is set to win unconditional EU antitrust approval, +people familiar with the matter said.The joint venture marks the telecoms sector's first attempt +to take on Meta and Alphabet'S Google in the +lucrative online advertising sector and diversify their revenue +streams.Google is the world's leading seller of online advertising, +well ahead of Meta, with the business generating about 80% of +its revenue.The European Commission, which is scheduled to decide on the +deal by Feb. 10 after its preliminary review, and Vodafone +declined to comment.Telefonica referred to the joint filing with the EU +antitrust watchdog. Deutsche Telekom and Orange did not +immediately respond to requests for comment.The EU competition enforcer describes the joint venture as a +privacy-led, digital identification solution to support the +digital marketing and advertising activities of brands and +publishers.Earlier this week, pan-European consumer lobbying group BEUC +voiced concerns over how data would be collected by the joint +venture and how the partners aim to get users' consent.It urged EU antitrust chief Margrethe Vestager to ensure +that the joint venture complies with the bloc's privacy rules +and the companies do not thwart rivals which may offer a more +privacy friendly product. +(Reporting by Foo Yun Chee, Editing by Louise Heavens and +Elaine Hardcastle) \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/Exclusive-Big Telecoms advertising venture set to win EU antitrust nod - sources.txt b/news/GOOGL/2023.02.01/Exclusive-Big Telecoms advertising venture set to win EU antitrust nod - sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..f134bf76ea2b0e19e2e97bde7983725bec3899e9 --- /dev/null +++ b/news/GOOGL/2023.02.01/Exclusive-Big Telecoms advertising venture set to win EU antitrust nod - sources.txt @@ -0,0 +1 @@ +The joint venture marks the telecoms sector's first attempt to take on Meta and Alphabet'S Google in the lucrative online advertising sector and diversify their revenue streams. (Reporting by Foo Yun Chee, Editing by Louise Heavens) \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/Exclusive-EU may miss gigabit target, more investments needed, telcoms group says.txt b/news/GOOGL/2023.02.01/Exclusive-EU may miss gigabit target, more investments needed, telcoms group says.txt new file mode 100644 index 0000000000000000000000000000000000000000..553f92efc4beeed5fb6168b856beaa5fb4d0015f --- /dev/null +++ b/news/GOOGL/2023.02.01/Exclusive-EU may miss gigabit target, more investments needed, telcoms group says.txt @@ -0,0 +1 @@ +BRUSSELS (Reuters) - The European Union risks missing its target to connect all European households to a gigabit network by 2030, underscoring the need for more investments, according to a study commissioned by telecoms lobbying group ETNO.The study by Analysys Mason comes as the bloc considers the possibility of getting Alphabet Inc's Google, Meta, Amazon.com Inc, Netflix , Apple and Microsoft to bear some of the network costs.Deutsche Telekom, Orange, Telefonica, Telecom Italia and their peers say this should be seen as a fair share contribution from the six content providers which account for more than half of data internet traffic. (Reporting by Foo Yun Chee, Editing by Louise Heavens)By Foo Yun Chee \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt b/news/GOOGL/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt new file mode 100644 index 0000000000000000000000000000000000000000..4d971c2fd50c98f9986744551e5f5b1613fdce60 --- /dev/null +++ b/news/GOOGL/2023.02.01/Futures dip on jitters ahead of ADP report, Fed decision.txt @@ -0,0 +1 @@ +The Fed is widely seen as raising its target interest rate by a quarter of a percentage point in its first policy meeting of the year, after the rapid increases in 2022 to tame decades-high inflation.Investors will also likely parse Chair Jerome Powell news conference for clues on the trajectory of future rate hikes.Money markets are betting on one more 25 basis point (bps) hike in March, and a terminal rate of 4.9% in June. "A rise by 25 bps is likely to be interpreted as a more cautious move... officials will hope that the central bank's aggressive tightening slows economic activity and wage growth without causing a recessionary spike in the unemployment rate," said Richard Flynn, UK managing director at Charles Schwab.Recent readings have indicated that inflation is easing, with the Fed also looking at data which will determine the resilience of the labor market and the pace of wage growth.The ADP National Employment report, due at 0815 a.m. ET, is expected to show that private payrolls increased in January by 178,000, which is less than the 235,000 rise in the previous month, as per a Reuters poll. The survey will be seen as a precursor to the Labor Department's more comprehensive reading on nonfarm payrolls for January on Friday. On Tuesday, Wall Street indexes reversed declines and rallied when the Fed's preferred wages gauge, the U.S. Employment Cost index, showed its smallest increase in a year during the fourth quarter.Halfway into the busiest week of earnings season, videogame publisher Electronic Arts Inc slumped 10.1% in premarket trading on lowering its annual bookings forecast.Snap Inc tumbled 15% after the social media company said it expects current-quarter revenue to decline by as much as 10%. Other social media and internet firms like Meta Platforms Inc, Alphabet Inc and Pinterest were flat to 0.7% lower. Facebook parent Meta is expected to report quarterly results after the bell.Bucking the recent nervousness among chipmakers, Advanced Micro Devices Inc added 3.4% after projecting that it expects its business to improve in the second half of the year, boosting hopes that it is gaining on rival Intel Corp. Intel shares dipped 0.1%. At 7:25 a.m. ET, Dow e-minis were down 122 points, or 0.36%, S&P 500 e-minis were down 7.25 points, or 0.18%, and Nasdaq 100 e-minis were up 7.5 points, or 0.06%. Dow Jones Industrial Average component Amgen Inc fell 1.1% as the drugmaker said its fourth-quarter revenue fell slightly. As of Tuesday, quarterly earnings of S&P 500 firms are expected to decline 2.4%, improving from 3% decline in the previous session as per Refinitiv. (Reporting by Johann M Cherian and Shreyashi Sanyal in Bengaluru; Additional reporting by Sruthi Shankar; Editing by Sriraj Kalluvila)By Johann M Cherian \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/GoodRx pays $1.5 million to settle health privacy allegations.txt b/news/GOOGL/2023.02.01/GoodRx pays $1.5 million to settle health privacy allegations.txt new file mode 100644 index 0000000000000000000000000000000000000000..7a88d8c6083e197536569585f018b7e126bf3648 --- /dev/null +++ b/news/GOOGL/2023.02.01/GoodRx pays $1.5 million to settle health privacy allegations.txt @@ -0,0 +1,24 @@ +WASHINGTON, Feb 1 (Reuters) - U.S. healthcare firm +GoodRx Holdings has agreed to pay $1.5 million to +settle allegations that it failed to notify customers that it +shared personal health information with Alphabet's +Google, Meta's Facebook and others, the Federal Trade +Commission said on Wednesday.Under the terms of the settlement, GoodRx will be barred +from sharing user health data with other companies to use for +advertising."Digital health companies and mobile apps should not cash in +on consumer’s extremely sensitive and personally identifiable +health information," said Samuel Levine, director of the FTC's +Bureau of Consumer Protection, in a statement.GoodRx, which had more than 55 million people use its +website or app in the past six years, is a platform that offers +drug discounts while collecting health information from users +and their pharmacy benefit managers.GoodRx promised users it would never share health +information with advertisers but gave information to Google, +Facebook, Criteo and others, the agency said in their complaint.GoodRx said in a statement the issue in the settlement was +resolved three years ago before the agency began its probe."We do not agree with the FTC’s allegations and we admit no +wrongdoing. Entering into the settlement allows us to avoid the +time and expense of protracted litigation," the company said in +a statement.The settlement is the first under the FTC's Health Breach +Notification Rule, the agency said.Under the settlement, the company is also required to put +limits on how long it keeps personal and health information, and +to publicly post the retention schedule, the agency said. +(Reporting by Diane Bartz; Editing by Josie Kao) \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/Marketmind: Markets go all in for disinflation.txt b/news/GOOGL/2023.02.01/Marketmind: Markets go all in for disinflation.txt new file mode 100644 index 0000000000000000000000000000000000000000..af6a850d8b2831b2b3306fe50fb2a5f1865feda2 --- /dev/null +++ b/news/GOOGL/2023.02.01/Marketmind: Markets go all in for disinflation.txt @@ -0,0 +1 @@ +Push back? What push back? The main theme ahead of the Fed announcement was that Chair Jerome Powell would definitely, totally, absolutely push back against the recent rapid easing in market conditions given inflation was still sky high.Instead, Powell seemed to go out of his way to do the opposite. The very first question in the new conference invited him to scold markets, and he notes conditions had tightened a lot last year.Given another opportunity, he says he's "not particularly concerned" about market pricing, and later "I'm not going to try to persuade people that have a different forecast" on inflation and policy.Yes there were caveats about it being too early to declare victory and policy will need to be more restrictive. But even then he was blase about another "couple of hikes", and spent more time trying out his new favourite word "disinflation".A pdf search of the conference shows disinflation or disinflationary was used 13 times, compared to twice at his December event. For sure, service inflation had yet to turn the corner, but he expected to see that "fairly soon."For markets, this is like stealing the last cookie in the cookie jar, getting caught red handed, and, instead of a good spanking, you get another cookie, with chocolate on. So of course Treasuries rallied, with 10s down 9bp and 2s 10bp in the wake of the conference and a bit more in Asia. Next targets are the Jan lows at 3.321% and 4.04%.Fed funds partied by pricing in more rate cuts with Fed funds seen at 4.40% by end 2023 and 3.0% by the close of 2024.The euro jumped to a 10-month peak of $1.1034 and could go further if ECB chief Christine Lagarde sounds as hawkish as everyone seems to expect after today's policy meeting.The market is almost fully priced for a hike of 50bp and the promise of more to come, though it was notable that Euribor rallied overnight to imply deeper cuts next year.The ECB is also set to reveal how exactly it plans to reduce the multi-trillion euro stock of bonds on its balance sheet.Across the Channel, the Bank of England is also seen hiking 50bp today, though with some outside risk of 25bp.The following media conference by Governor Andrew Bailey and colleagues is likely to be a tough one, assuming they can even get to it given all the strikes. The IMF, and many others, are predicting recession but inflation is at 10.5% and wage growth running red hot - good luck squaring that circle.For Wall Street, it's a massive earnings day and Meta helped overnight by announcing a $40 billion buy-back that sent its shares up 18%.Healthcare companies BristolMeyers-Squibb Co, Eli Lilly and Co and Merck & Co are due to report before trading commences on Wall Street. The heavy-hitting trifecta of Apple Inc, Amazon.com and Alphabet Inc are after the bell.Key developments that could influence markets on Thursday:- BoE rate decision is at 1200 GMT and the ECB at 1315 GMT. BoE Gov Bailey speaks to reporters at 1230 GMT and ECB President Lagarde at 1345 GMT. (Reporting by Wayne Cole; Editing by Stephen Coates)By Wayne Cole \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/Marketmind: Riding the Fed dragon.txt b/news/GOOGL/2023.02.01/Marketmind: Riding the Fed dragon.txt new file mode 100644 index 0000000000000000000000000000000000000000..b49b3448571c32affa388981661375bbe43b9edd --- /dev/null +++ b/news/GOOGL/2023.02.01/Marketmind: Riding the Fed dragon.txt @@ -0,0 +1 @@ +Asian markets are set for an upbeat Thursday as U.S. stocks whipsawed to a higher close after the Federal Reserve delivered an expected 25 basis point interest rate hike and warned it still expects 'ongoing increases' as it battles inflation.All three major U.S. stock indexes reversed earlier losses to sail across the finish line in positive territory, under assurances from Fed Chairman Jerome Powell that he believes price growth can be tamed "without a significant economic decline."In his remarks and Q&A session following the policy decision, Powell said "there's more work to do," before its goals are met, but acknowledged data shows inflation is beginning to cool."The door is cracking open to end rate hikes, but they still have a chance for one more rate hike at the next meeting," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "Inflation data continues to show major improvements, which is exactly what the Fed needs to take their foot off the pedal."The European Central Bank and the Bank of England are expected to hike their key interest rates by 50 basis points on Thursday.On the economic front, restrictive central bank policies appear to be dampening factory activity, with purchasing managers' indexes around the world either in contraction or struggling to expand.Fourth-quarter earnings season is running on all cylinders, with 190 of the companies in the S&P 500 having reported already. Of those, 69% have delivered consensus-beating profits, according to Refinitiv.Shares of Meta Platforms Inc jumped more than 18% in extended trading after the social media bellwether forecast first-quarter revenue above Wall Street estimates, signaling a rebound in demand for digital ads after months of weak sales.Healthcare companies BristolMeyers-Squibb Co, Eli Lilly and Co and Merck & Co are due to report before trading commences on Wall Street on Thursday, with the heavy-hitting triple play of Apple Inc, Amazon.com and Alphabet Inc expected after the session ends.Elsewhere, the U.S. dollar lost ground against a basket of world currencies, while crude prices settled sharply lower due to a buildup of U.S. oil stocks.Here are some key developments that could provide more direction to markets on Thursday:- South Korea releases CPI inflation data (Jan)- Australia posts building approvals (Dec)- U.S. planned layoffs (Jan), weekly jobless claims land before the opening bell, factory orders (Dec) shortly after (Reporting by Stephen Culp; Editing by Deepa Babington)By Stephen Culp \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/Meta stuns Street with lower costs, big buyback, upbeat sales.txt b/news/GOOGL/2023.02.01/Meta stuns Street with lower costs, big buyback, upbeat sales.txt new file mode 100644 index 0000000000000000000000000000000000000000..287e985e84f29d0613d2ba383e41ce82d1865ca6 --- /dev/null +++ b/news/GOOGL/2023.02.01/Meta stuns Street with lower costs, big buyback, upbeat sales.txt @@ -0,0 +1,61 @@ +Feb 1 (Reuters) - Meta Platforms Inc's stricter +cost controls this year and a new $40 billion share buyback sent +shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 +the "Year of Efficiency."The parent of Instagram and Facebook, which has fallen on +hard times amid a broad post-pandemic slump in digital ads, is +focused on improving its content recommendations powered by +artificial intelligence and its ad targeting systems to keep +users clicking.Meanwhile, it will cut costs in 2023 by $5 billion to a +range of $89 billion to $95 billion, a steep drop from the $94 +billion to $100 billion it previously forecast, and it projected +first-quarter sales that could beat Wall Street estimates.Meta stock surged nearly 19% in after-hours trade. If gains +hold on Thursday, it would set up the shares for their biggest +intraday surge in a decade and added more than $75.5 billion to +its existing $401 billion market capitalization.Zuckerberg described the focus on efficiency as part of the +natural evolution of the company, calling it a "phase change" +for an organization that once lived by the motto "move fast and +break things.""We just grew so quickly for like the first 18 years," +Zuckerberg said in a conference call. "It's very hard to really +crank on efficiency while you're growing that quickly. I just +think we're in a different environment now."The cost cuts reflect Meta's updated plans for lower +data-center construction expenses this year as part of a shift +to a structure that can support both AI and non-AI work, it said +in a statement.The digital ad giant faced a brutal 2022 as companies cut +back on marketing spending due to economic worries, while rivals +like TikTok captured younger users and Apple Inc's +privacy updates continued to challenge the business of placing +targeted ads.Meta in November cut more than 11,000 jobs in response, a +precursor to the tens of thousands of layoffs in the tech +industry that followed."Our management theme for 2023 is the 'Year of Efficiency' +and we're focused on becoming a stronger and more nimble +organization," Zuckerberg said in a statement.Monetization efficiency for Reels on Facebook, a short-form +video format, had doubled in the past six months and the +business was on track to roughly break even by the end of 2023 +or early 2024 and grow profitably after that, he said on the +conference call.INVESTMENTS STARTING TO PAY OFF"Meta's better-than-feared results should refute concerns +over the state of the digital advertising industry following +Snap's horrible guidance earlier this week," said Jesse Cohen, +senior analyst at Investing.com."Despite all the challenges Meta must deal with, there are +signs the business is still doing well," Cohen said.Shares of peer Alphabet Inc were up 3.3% while +Snap Inc stock rose 1% in after-hours trade on +Wednesday.On the conference call, executives said Meta's +investments in AI-surfaced content and TikTok competitor Reels +were starting to pay off. The company also has been using AI to +increase automation for advertisers and target ads using less +personal data, resulting in higher return on ad spend.Meta forecast first-quarter revenue between $26 billion +and $28.5 billion. That was in with analysts' average estimates +of $27.14 billion, according to Refinitiv.Zuckerberg said generative AI - technology for producing +original prose, imagery or computer code on command - would be +the company's other big theme for this year, alongside +efficiency.Meta was planning to launch several new products that +would "empower creators to be way more productive and creative," +he said, while cautioning about the cost associated with +supporting the technology for a large user base.However, net income for the fourth quarter ended Dec. 31 +fell to $4.65 billion, or $1.76 per share, compared with $10.29 +billion, or $3.67 per share, a year earlier. Analysts had +expected a profit of $2.22 per share.The decline was largely due to a $4.2 billion charge related +to cost-cutting moves such as layoffs, office closures and the +data center strategy overhaul.The company previously said it was planning to account for +much of that cost in 2023.(Reporting by Nivedita Balu in Bengaluru, Katie Paul in New +York, Sheila Dang in Dallas and Sayantani Ghosh in San +Francisco; Editing by Matthew Lewis and Bradley Perrett) \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/Microsoft rolls out ChatGPT-powered Teams Premium.txt b/news/GOOGL/2023.02.01/Microsoft rolls out ChatGPT-powered Teams Premium.txt new file mode 100644 index 0000000000000000000000000000000000000000..a66457cfb84ffc2e2ad032873e2aeec2c244a0a9 --- /dev/null +++ b/news/GOOGL/2023.02.01/Microsoft rolls out ChatGPT-powered Teams Premium.txt @@ -0,0 +1 @@ +The premium service will cost $7 per month in June before increasing to $10 in July, Microsoft said.OpenAI-owned ChatGPT will generate automatic meeting notes, recommend tasks and help create meeting templates for Teams users.Microsoft, which announced a multi-billion dollar investment in OpenAI earlier this month, has said it aims to add ChatGPT's technology into all its products, setting the stage for more competition with rival Alphabet Inc's Google.The chatbot, which can produce prose or poetry on command, is at the forefront of generative AI, a space where more and more big tech companies are funneling their resources in.ChatGPT on Wednesday announced a $20 per-month subscription plan, which will let subscribers receive access to faster responses and priority access to new features and improvements. (Reporting by Chavi Mehta in Bengaluru; Editing by Subhranshu Sahu) \ No newline at end of file diff --git a/news/GOOGL/2023.02.01/Snap's earnings may hold positive news for Meta, Google -analysts.txt b/news/GOOGL/2023.02.01/Snap's earnings may hold positive news for Meta, Google -analysts.txt new file mode 100644 index 0000000000000000000000000000000000000000..18c99ae5bc6f6b5b39d85e96dbb7a9960ed1c9cb --- /dev/null +++ b/news/GOOGL/2023.02.01/Snap's earnings may hold positive news for Meta, Google -analysts.txt @@ -0,0 +1 @@ +Snap said its direct response business geared towards driving product sales or website visits rose 4% in October-December. But, revenue from brand advertising, aimed at promoting a brand's image, declined 11%, the company said in its quarterly earnings report on Tuesday.That could "be viewed as a healthy sign for Meta and Google," whose businesses are tuned to direct response advertisers, said Mark Shmulik, senior analyst at research firm Bernstein. Alphabet's Google, the world's largest digital advertising platform, has long fared better than other ad-dependent companies because brands consider ads on Google searches crucial to driving website visits or other consumer actions. Similarly, Meta has said in previous quarters that the bulk of its revenue comes from direct response advertising. Facebook and Instagram reach billions of users, turning them a key part of the marketing strategies of many brands. "Snap is impacted by the reality that it has significant brand advertising exposure (which is getting hit harder than direct response)," said Evercore ISI analyst Mark Mahaney.Headwinds for Meta and Google could be notably less severe, he added.Snap's shares slumped 14% on Tuesday after it projected a decline in current-quarter revenue by as much as 10%. The shares extended the losses on Wednesday, falling about 15% premarket. The weak outlook pulled down the shares of rivals Meta, Google, and Pinterest, which also earns revenue by selling digital advertising, on Tuesday.Analysts expect Meta to report a 6.5% fall in December quarter revenue when it reports results on Wednesday, according to Refinitiv, its third consecutive quarter of decline. Alphabet will report results on Thursday, and analysts expect revenue to be unchanged from a year earlier.Snap's challenges, including privacy changes on Apple Inc devices that have made it harder for marketers to collect data, are not unique to the company. But it has the "added challenge of a being a small player," said Jasmine Enberg, principal analyst at Insider Intelligence."Advertisers are turning to tried and true platforms." (Reporting by Sheila Dang in Dallas and Nivedita Balu in Bengaluru; Editing by Dhanya Ann Thoppil)By Sheila Dang and Nivedita Balu \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Alphabet : Q4 Earnings Snapshot.txt b/news/GOOGL/2023.02.02/Alphabet : Q4 Earnings Snapshot.txt new file mode 100644 index 0000000000000000000000000000000000000000..614f56503c7f8a3f2684f8fc795bb59e85c2515b --- /dev/null +++ b/news/GOOGL/2023.02.02/Alphabet : Q4 Earnings Snapshot.txt @@ -0,0 +1 @@ +MOUNTAIN VIEW, Calif. (AP) _ Alphabet Inc. (GOOGL) on Thursday reported fourth-quarter net income of $13.62 billion.The Mountain View, California-based company said it had profit of $1.05 per share.The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.The internet search leader posted revenue of $76.05 billion in the period. After subtracting Alphabet's advertising commissions, revenue was $63.12 billion, which also fell short of Street forecasts. Ten analysts surveyed by Zacks expected $63.15 billion.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GOOGL at https://www.zacks.com/ap/GOOGLCopyright by Automated Insights, Inc. All rights reserved., source Associated Press News \ No newline at end of file diff --git "a/news/GOOGL/2023.02.02/Alphabet cfo says 'very focused' on google cloud profitability\342\200\246.txt" "b/news/GOOGL/2023.02.02/Alphabet cfo says 'very focused' on google cloud profitability\342\200\246.txt" new file mode 100644 index 0000000000000000000000000000000000000000..2d1b398308935afb6a305d54755a1d51961d2066 --- /dev/null +++ "b/news/GOOGL/2023.02.02/Alphabet cfo says 'very focused' on google cloud profitability\342\200\246.txt" @@ -0,0 +1 @@ +ALPHABET CFO SAYS 'VERY FOCUSED' ON GOOGLE CLOUD PROFITABILITY \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Alphabet posts lower Q4 profit amid ad squeeze, competition.txt b/news/GOOGL/2023.02.02/Alphabet posts lower Q4 profit amid ad squeeze, competition.txt new file mode 100644 index 0000000000000000000000000000000000000000..ac30cdec54a911d7f2bb426008a0db497c9ebe42 --- /dev/null +++ b/news/GOOGL/2023.02.02/Alphabet posts lower Q4 profit amid ad squeeze, competition.txt @@ -0,0 +1 @@ +Google's parent company Alphabet on Thursday posted lower profit and a small revenue increase for last year's fourth quarter, as a decline in online ad spending and competition from rivals weigh on the search giant.While overall revenue grew, advertising revenue fell by nearly 4% and revenue at YouTube declined 8% year-over-year. That appeared to spook investors, who sent the company's stock lower in after-hours trading.The company based in Mountain View, California, said it earned $13.62 billion, or $1.05 per share, in the October-December quarter. That's down 34% from $20.64 billion, or $1.53 per share, in the same period a year earlier.Revenue inched 1% higher to $76.05 billion from $75.33 billion.Analysts expected Alphabet to post earnings of $1.18 per share on revenue of $76.2 billion for period, according to FactSet Research.Alphabet, like Facebook parent Meta, Amazon and other tech companies, is navigating a rough economic patch that's especially hurting the online advertising market.Last month, Alphabet announced it was cutting 12,000 jobs, or about 6% of its workforce. It was the company’s biggest-yet round of layoffs and adds to tens of thousands of other job losses recently announced by Microsoft, Amazon, Meta and other tech companies that are tightening their belts in the face of a darkening outlook for the industry.In response to the layoffs, Google's unionized workers, members of the Alphabet Workers Union-CWA rallied outside of the company's New York City office during the company's earnings call.“Alphabet is one of the most profitable companies in the world, and well positioned to weather any economic storm. Yet instead our executives decided to layoff 12,000 of our coworkers, including many on medical or parental leave, as well as many with over a decade of loyal service,” the union said in a statement.Alphabet is contending with a “challenging” economic climate and is working to reengineer its cost structure to build “financially sustainable, vibrant growing businesses” across the company, CEO Sundar Pichai said.“Our long-term investments in deep computer science make us extremely well-positioned as AI reaches an inflection point, and I’m excited by the AI-driven leaps we’re about to unveil in search and beyond," Pichai said in a statement.Google is facing some competition in artificial intelligence from Microsoft, which last month announced it is making a “multiyear, multibillion dollar investment” in the artificial intelligence startup OpenAI, the maker of the wildly popular ChatGPT and other tools that can write readable text and generate new images.The technology could help Microsoft’s own search engine, Bing, compete with Google in answering search queries with more complete answers instead of just links.Pichai also touted “great momentum" in Cloud, YouTube subscriptions, and Pixel devices, signaling to investors that Alphabet has plenty revenue sources outside of advertising to grow its business.Nonetheless, advertising still makes up the bulk of Alphabet's revenue.Beyond the economic squeeze, Google is also facing regulatory pressure. Last month, the Justice Department and eight states filed an antitrust suit against Google, seeking to shatter its alleged monopoly on the entire ecosystem of online advertising as a hurtful burden to advertisers, consumers and even the U.S. government.The government alleged in the complaint that Google is looking to “neutralize or eliminate” rivals in the online ad marketplace through acquisitions and to force advertisers to use its products by making it difficult to use competitors’ offerings.Shares in Alphabet Inc. fell about 4% in extended trading after the company's earnings report came out.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News \ No newline at end of file diff --git "a/news/GOOGL/2023.02.02/Alphabet revenue misses estimates as ad business takes a hit\302\240.txt" "b/news/GOOGL/2023.02.02/Alphabet revenue misses estimates as ad business takes a hit\302\240.txt" new file mode 100644 index 0000000000000000000000000000000000000000..0e34ae90039f5de9d66a0fbe0ebcf23b59545fd2 --- /dev/null +++ "b/news/GOOGL/2023.02.02/Alphabet revenue misses estimates as ad business takes a hit\302\240.txt" @@ -0,0 +1 @@ +Revenue rose to $76.05 billion in the fourth quarter from $75.33 billion a year ago. Analysts were expecting $76.53 billion, according to IBES data from Refinitiv. (Reporting by Nivedita Balu in Bengaluru; Editing by Devika Syamnath) \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Amazon workers in Barcelona strike over warehouse closure.txt b/news/GOOGL/2023.02.02/Amazon workers in Barcelona strike over warehouse closure.txt new file mode 100644 index 0000000000000000000000000000000000000000..2c2dbbf6ab16cbec2324cf16245572a3e189753f --- /dev/null +++ b/news/GOOGL/2023.02.02/Amazon workers in Barcelona strike over warehouse closure.txt @@ -0,0 +1,32 @@ +MADRID, Feb 2 (Reuters) - Workers at an Amazon +logistics centre on the outskirts of Barcelona protested on +Thursday on the second day of an indefinite strike sparked by +the company's plans to shut down the warehouse and relocate +employees to other provinces.They have staged pickets at the entrances to the warehouse, +but union leaders said they were allowing truck drivers to enter +and leave the centre where 800 people work and accused Amazon of +acting "in bad faith" by calling riot police to clear the area +on the first day.Amazon did not immediately respond to a request for comment.On Jan. 11, the delivery giant announced it would close the +warehouse in the Martorelles suburb and shift its activity to +the city of Zaragoza, some 300 km (186 miles) west of Barcelona.While Amazon said all employees would be transferred to +other logistics centres in Spain without any job losses, trade +unions described the move as "disguised layoffs" and said the +collective bargaining deals in other provinces would result in +worse pay conditions for workers."Does Amazon really need to make more profit? It has more +millions than entire countries," Elisenda Mas, a spokesperson +for Spain's largest union CCOO, told Reuters. "It's shameful."She said that Amazon's latest offer for employees willing to +move to Zaragoza or to Figueres in the neighbouring province of +Girona - located 125 km north of Barcelona - was a one-off +relocation bonus of 3,000 euros ($3,280) plus an unspecified +amount spread out in 12 monthly instalments.But the separate collective bargaining agreement in those +provinces would entail a pay cut of at least 700 euros per +month, she said, adding that moving away from Barcelona, where +her husband works and her child attends school, was not a viable +option.Striking workers are asking to be relocated to other Amazon +warehouses within the province of Barcelona.Last month, Amazon announced more than 18,000 job cuts +globally, mainly impacting its e-commerce and human resources +divisions, amid similar moves by tech companies such as Meta +or Alphabet. +($1 = 0.9147 euros) +(Reporting by David Latona; Editing by Andrei Khalip and +Barbara Lewis) \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Apple, Alphabet miss Wall Street expectations.txt b/news/GOOGL/2023.02.02/Apple, Alphabet miss Wall Street expectations.txt new file mode 100644 index 0000000000000000000000000000000000000000..c08571fa7df1d77a5c30e4e7856bfad2d2695100 --- /dev/null +++ b/news/GOOGL/2023.02.02/Apple, Alphabet miss Wall Street expectations.txt @@ -0,0 +1 @@ +In results reported on Thursday, Apple missed profits expectations for the first time since 2016.Sales fell 5% to $117 billion, down in every part of the world last quarter.Part of the problem: weak iPhone sales.COVID lockdowns in China disrupted production.Demand fell in China, too... and overall, iPhone sales are down around 8% compared to the year before.Shares in the tech giant fell 5% after the results came out.It was a slightly rosier picture at Amazon.Its holiday revenue beat expectations, with early holiday shopping sales helping, to a point. Still, the boost may be short-lived.Amazon is already warning it may not make any profit at all this quarter.It doesn't think layoffs will do enough to blunt the impact of consumer clampdowns on spending. Facing high inflation and an uncertain economy, CEO Andy Jassy wants to slash costs.It's a similar story at Google parent Alphabet, where chief executive Sundar Pichai said the company was on a journey to "re-engineer" its cost structure.Both echoed comments from Meta boss Mark Zuckerberg the day - before who placed emphasis on "cost efficiencies." Alphabet also fell short of profit and revenue expectations.Overall, Alphabet's net income fell to $13.62 billion from $20.64 billion a year earlier.Shares there were down about 4 percent in after-hours trading.The stock lost about 40 percent of its value last year.Alphabet has also announced plans to slash 12,000 jobs, or about 6% of its overall workforce.Apple is one of the few large tech firms that hasn't announced big layoffs so far. \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt b/news/GOOGL/2023.02.02/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt new file mode 100644 index 0000000000000000000000000000000000000000..49b75bffee6c6e5407c3df485270870390f67198 --- /dev/null +++ b/news/GOOGL/2023.02.02/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt @@ -0,0 +1 @@ +Overnight, markets sensed the end of the massive global tightening cycle, after policymakers in Britain and Europe signalled their intention to pause, sending local bonds rallying and currencies lower. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.5% on Friday, dragged down by a 0.9% slump in Chinese bluechips and a 1.2% tumble in Hong Kong's Hang Seng index. Japan's Nikkei outperformed, rising 0.6%. Disappointment over earnings results from Google, Apple and Amazon tempered sentiment. S&P 500 futures slid 0.5% and Nasdaq futures fell 1.4% on Friday, . Tech shares took a beating in Thursday's after-hours trading, with shares of Apple, Amazon and Google parent Alphabet all tumbling. That took the shine off a strong regular trading session on Thursday, when the S&P climbed 1.5% and the Nasdaq surged 3.3%. The uptick built on strong gains from the previous day after the Federal Reserve Chair Jerome Powell said disinflationary pressures are underway in the economy, raising hopes of an imminent pause to its monetary tightening streak. Apple projected another revenue decline in the start of the year, Amazon warned that its operating profit could fall to zero in the current quarter, and Google parent Alphabet missed expectations in its fourth-quarter profit and revenue. Investors are also watching the fallout from this week's plunge in shares of India's Adani group, after market losses amounted to more than $100 billion in the wake of a U.S. short-seller's report.On Thursday, the European Central bank (ECB) and Bank of England (BoE) hiked rates by 50 basis points each, with the BoE saying the tide was turning against inflation and the ECB indicating at least one more hike was on the horizon before re-evaluating its rate hike path. Markets reacted by pushing European yields sharply lower, with the ten-year German bunds falling 22.6 basis points to 2.065%, the biggest drop since 2011, and Italian bonds tumbling 40 bps to 3.887%, the most since 2020, on hopes that the tightening from ECB will end soon. "The wash-up is that the BoE meeting was dovish, and the ECB is now firmly open-minded and data-dependent, and the Fed chose not to fight the market and the market feels validated by that," said Chris Weston, head of research at Pepperstone. Alan Ruskin, macro strategist at Deutsche Bank, said given the current market price action ahead of the U.S. payrolls data, a softer report would be regarded as endorsing all the favourite trades of the year. "Not least it would provide the most important evidence to date to suggest that the market's rates pricing is more appropriate than the Fed's own more hawkish signalling," said Ruskin. Analysts expect 185,000 jobs were added last month, the lowest since January 2021, unemployment edged up to 3.6%, and hourly wage inflation to stay flat at 0.3% on a monthly basis, suggesting the strong labour market might have started to ease up. Futures markets still favour another 25-basis-point hike from the Fed at its March policy meeting, while implying that might be the end of its current tightening cycle. They have also priced in one rate cut by the end of this year. In the currency markets, the euro extended losses to $1.0891, pulling further away from the ten-month top of $1.1033 touched on Thursday. The sterling fell to $1.2206 on Friday, the lowest in more than two weeks, after tumbling 1.2% the previous session. That helped the U.S. dollar to recoup most of its post-Fed losses, with the dollar index now standing at 101.81, away from its nine-month low of 100.80.Treasury yields held largely steady. The yield on benchmark 10-year Treasury notes eased 2 basis points to 3.3799%, while the two-year yield, which rises with traders' expectations of higher Fed fund rates, was mostly flat at 4.0959%. In the oil market, Brent crude futures rose 0.3% to $82.41 while U.S. West Texas Intermediate (WTI) crude also settled up 0.3%, at $76.09.Gold was slightly higher. Spot gold was traded at $1916.1 per ounce. (Editing by Shri Navaratnam)By Stella Qiu \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Big Tech earnings show digital ads market not out of the woods.txt b/news/GOOGL/2023.02.02/Big Tech earnings show digital ads market not out of the woods.txt new file mode 100644 index 0000000000000000000000000000000000000000..c92205c56f12bd5e265845b220654ec5aa5296a7 --- /dev/null +++ b/news/GOOGL/2023.02.02/Big Tech earnings show digital ads market not out of the woods.txt @@ -0,0 +1 @@ +The health of the advertising industry closely mirrors the economy, and many advertisers have pared back their marketing budgets in response to record-high inflation rates and continued uncertainty about a recession. Google-owner Alphabet Inc on Thursday reported a slight fall in quarterly ad revenue, missing Wall Street expectations and surprising investors as the world's largest digital ad platform has traditionally been resilient compared to smaller rivals. Shares of Alphabet were down 5% in trading after the closing bell."For a company the size of Google and as influential as Google to have such disappointing results, (that means the ad industry) won't turn around in one quarter," said Evelyn Mitchell, an analyst at Insider Intelligence.Snap Inc, owner of photo messaging app Snapchat, said Tuesday it expects current-quarter revenue to decline as much as 10% due to competition for ad dollars and a challenging economy."(Advertisers) are managing their spend very cautiously so they can react quickly to any changes in the environment," Snap Chief Executive Evan Spiegel said during an earnings call.Meta Platforms Inc, the second-largest digital ad platform, lifted Wall Street on Wednesday with its cost cuts and big share buyback, though it posted its third consecutive quarter of year-over-year revenue decline.Lower ad spending from brands in the financial services and technology sector was one reason for the revenue decline, the company said. Meta Chief Financial Officer Susan Li said the broader economy continues to be "pretty volatile" and it was too early to tell what the year would look like.The mood among advertisers broadly is one of "cautious optimism" for the year ahead, said Nicola Mendelsohn, Meta's vice president of global business group, in an interview on Thursday.By region, advertisers have been bullish about the U.S. market, while sentiment in Europe has struggled comparatively and China has shown signs of improvement, though the future remains uncertain amid the country's reopening, Mendelsohn said. (Reporting by Sheila Dang in Dallas; Editing by Christopher Cushing)By Sheila Dang \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Democratic senator urges Apple, Google to kick TikTok out of app stores.txt b/news/GOOGL/2023.02.02/Democratic senator urges Apple, Google to kick TikTok out of app stores.txt new file mode 100644 index 0000000000000000000000000000000000000000..d55435820aa7980fac4d8142e54cebb9ac0c3538 --- /dev/null +++ b/news/GOOGL/2023.02.02/Democratic senator urges Apple, Google to kick TikTok out of app stores.txt @@ -0,0 +1 @@ +The app, which Congress has already banned from federal government devices, has come under increasing criticism because of concern that China's government could use it to harvest data on Americans or advance Chinese interests."No company subject to CCP (Chinese Communist Party) dictates should have the power to accumulate such extensive data on the American people or curate content to nearly a third of our population," Bennet wrote in the letter to Alphabet Chief Executive Sundar Pichai and Apple CEO Tim Cook."Given these risks, I urge you to remove TikTok from your respective app stores immediately," he wrote.Prior to Bennet's letter, Republicans have largely led the charge on TikTok and national security concerns, although Democratic Senator Dick Durbin previously urged Americans to stop using the app. In the House, which is now in Republican hands, the Foreign Affairs Committee plans to hold a vote this month on a bill aimed at blocking TikTok's use in the United States, the committee confirmed.In 2020, then-President Donald Trump attempted to block new users from downloading TikTok and ban other transactions that would have effectively prevented TikTok's use in the United States, but the move was rebuffed by the courts.For its part, the company says China's government cannot access the personal data of U.S. citizens or manipulate the app's content. TikTok Chief Executive Shou Zi Chew is due to appear before the U.S. House Energy and Commerce Committee in March. (Reporting by Diane Bartz; Editing by Stephen Coates) \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/EU lawmakers agree to tougher rules on targeted political ads.txt b/news/GOOGL/2023.02.02/EU lawmakers agree to tougher rules on targeted political ads.txt new file mode 100644 index 0000000000000000000000000000000000000000..537a80b30fb905283af18782e4960b1f3cdd18cb --- /dev/null +++ b/news/GOOGL/2023.02.02/EU lawmakers agree to tougher rules on targeted political ads.txt @@ -0,0 +1 @@ +The draft rules proposed by the European Commission last year are part of the EU move to curb the power of Alphabet's Google, Meta Platforms and other social media giants, and force them to be more accountable and transparent.The rules require U.S. tech giants to provide more data on their targeted political ads, with fines up to 4% of their global turnover for breaches.EU lawmakers toughened up some of the provisions in the Commission's draft and will now have to thrash out details with EU countries before the proposed regulation can become legislation."Only personal data explicitly provided for online political advertising can be used by advert providers," the European Parliament said "Micro-targeting, a strategy that uses consumer data and demographics to identify the interests of specific individuals, will therefore not be possible." Lawmakers also backed a blanket ban on using minors' data and a ban on non-EU based entities from financing political advertisements in the EU. They proposed setting up an online repository for all online political ads and related data, and the possibility of periodic penalties for repeated violations. They also proposed that large advertisement service providers be required to suspend their services for 15 days with particular clients over systemic infringements.YouTube gave a thumbs-up to the lawmakers' proposals against EU countries' much broader remit."By focusing new rules on ads and paid-for content, we think the Parliament has reached a position that removes the worrying unintended consequence of limiting political speech online," David Wheeldon, head of government affairs and public policy at YouTube, EMEA."The current Council proposals go far beyond ads and paid-for content, and could result in a significant reduction in political content and debate online, impacting creators and viewers," he said.Tech lobbying group CCIA called for clarity on the definition of political advertisements and proportionate obligations.Lawmaker and civil rights advocate Patrick Breyer said Parliament was taking a stand against surveillance-based political advertising."From the Donald Trump and Brexit campaigns we have learned that you can very effectively and subconsciously manipulate a voter if you know which message works on them," he said. (Reporting by Foo Yun Chee; Editing by Bernadette Baum)By Foo Yun Chee \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt b/news/GOOGL/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt new file mode 100644 index 0000000000000000000000000000000000000000..469ef069fc5071e3016f1e870dad7db43b7f7e17 --- /dev/null +++ b/news/GOOGL/2023.02.02/Global markets live: ABB, Infineon, Shell, Metlife, Boeing....txt @@ -0,0 +1,35 @@ + +  +  +Corporate results: + +ABB: Order intake declines in Q4. +Banco Santander: Q4 net profit rises to €2.3bn. +Deutsche Bank: Q4 net profit comes up a little short of expectations. Current year revenues expected to be between €28-29bn. +Infineon: Segment margin expected to come out in fiscal Q2 at around 25%, versus 23.5% initially projected. +ING Groep: Q4 net profit came in at €1.1bn, slightly above consensus. +Nordea: Q4 net profit reaches €1.64bn. +Roche Holding: 2023 growth expected to slow. +Shell: The oil major company posted a record annual profit of $40bn. +Siemens Healthineers: The group reports a 28% drop in Q4 operating profit due to lower Covid test sales and delays at a supplier to its Varian business. +Sony: Annual operating profit should be slightly higher than expected. +Meta Platforms jumped 19 percent in pre-market trading after announcing Wednesday night a $40 billion share buyback program, tighter cost controls this year and an upbeat forecast for its first-quarter revenue. Apple, Alphabet and Amazon, which will report results after the U.S. markets close, were up 1.1% to 4.3% in pre-market trading. +Eli Lilly on Thursday raised its full-year profit target, expecting higher demand for its new diabetes drug Mounjaro. +Estee Lauder raised its full-year sales forecast Thursday on solid demand for its products and an expected recovery in China, its largest market. +Honeywell reported a 28.6% drop in fourth-quarter profit, hampered by supply problems and labor shortages. +Merck reported a better-than-expected quarterly profit on strong Asian sales of its Covid-19 antiviral. The company's profit forecast for this year, however, came in below analysts' consensus, sending the stock down 1% in premarket trading. +Metlife reported a 33% drop in adjusted fourth-quarter profit on Wednesday. + +In other news: + +KKR has made a non-binding offer to acquire a majority stake in Telecom Italia's fixed-line telecommunications network. +Boeing won a $1.62 billion contract from the U.S. Air Force to supply guidance systems for the Minuteman III intercontinental ballistic missile. +Pinterest decided to lay off about 150 employees, less than 5 percent of its workforce, Bloomberg reported Wednesday. +Adani Enterprises cancels its capital increase. +FedEx will lay off more than 10% of its executives and directors. +Sony will promote CFO Hiroki Totoki to president and COO. +Trading in several Adani stocks suspended after their plunge. +Honda will begin production of a new hydrogen fuel cell system developed jointly with General Motors. +Swatch proposes a dividend of CHF 6 per share (CHF 1.20 per registered share). + +Today's main earnings reports: Apple, Alphabet, Amazon, Eli Lilly, Roche, Merck & Co, Costco, Shell, Sony, Qualcomm, Estée Lauder, ABB, Dassault Systèmes, ING Groep, Infineon, Nordea, Deutsche Bank... All the agenda is here. diff --git a/news/GOOGL/2023.02.02/Google tees up venue clash over U.S. advertising antitrust lawsuit.txt b/news/GOOGL/2023.02.02/Google tees up venue clash over U.S. advertising antitrust lawsuit.txt new file mode 100644 index 0000000000000000000000000000000000000000..198cbcbe5e897f4a97eb695111cb51b7dfd594b1 --- /dev/null +++ b/news/GOOGL/2023.02.02/Google tees up venue clash over U.S. advertising antitrust lawsuit.txt @@ -0,0 +1 @@ +In a filing in the Manhattan litigation, Google's attorneys said transferring the lawsuit was necessary for "judicial efficiency and to mitigate the obvious risk of inconsistent judgments." Google said the new DOJ case, filed jointly with eight states last month, which also alleges advertising-related abuses, overlaps with multidistrict litigation in New York that formed in 2021.Google's planned effort sets up an early possible flashpoint in the new lawsuit. The DOJ can be expected to oppose the company's attempt to transfer the case to New York, where it would be part of a complex process involving a host of private and state plaintiffs, legal experts following the cases told Reuters.A DOJ spokesperson declined to comment, as did a representative from Google.Google has disputed the claims in the new lawsuit, saying it "duplicates an unfounded" one that Texas filed and now is part of the New York litigation.U.S. courts facing transfer requests weigh a variety of factors, including location of witnesses and evidence.U.S. District Judge Leonie Brinkema in Virginia was assigned to the lawsuit there. The Justice Department and eight states, including Virginia and California, are seeking an order to force Google to sell its ad manager suite, a key business that was 12% of the company's revenue in 2021.The consolidated New York cases -- from Texas and other states, publishers and advertisers -- are before U.S. District Judge P. Kevin Castel.Consumer protection expert David Vladeck at Georgetown University Law Center said the Justice Department could make an argument for a separate case in Virginia on the basis that its nationwide interest in structural reform -- breaking apart Google -- distinguishes it from other suits over damages."They just want DOJ versus Google, nobody else," Vladeck said. The DOJ, he said, "would not want in any way, shape or form" to be transferred to the multidistrict litigation in New York.Antitrust expert Eleanor Fox, who teaches at New York University School of Law, predicted that the Virginia federal court "would let the DOJ have its choice of forum and would not move the case."Fox also said there is a new federal law that gives state plaintiffs their preference for venue in antitrust litigation.The case is In re Google Digital Advertising Antitrust Litigation, U.S. District Court, Southern District of New York, 1:21-md-03010-PKC.For state plaintiffs: Mark Lanier of The Lanier Law FirmFor publisher class: David Boies of Boies Schiller FlexnerFor advertiser class: Dena Sharp of Girard Sharp and Tina Wolfson of Ahdoot & WolfsonFor Google: Eric Mahr of Freshfields Bruckhaus Deringer and Justina Sessions of Wilson Sonsini Goodrich & RosatiRead more:Justice Dept. team suing Google includes longtime Paul Weiss partnerJudge Leonie Brinkema named to oversee U.S. lawsuit against GoogleU.S. targets Google's online ad business monopoly in latest Big Tech lawsuit (Reporting by Mike Scarcella; editing by Leigh Jones)By Mike Scarcella \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/MFE rules out merger with Prosieben for now.txt b/news/GOOGL/2023.02.02/MFE rules out merger with Prosieben for now.txt new file mode 100644 index 0000000000000000000000000000000000000000..4f2f64b3cba962fe3df713041e06d95ac9b5aaa7 --- /dev/null +++ b/news/GOOGL/2023.02.02/MFE rules out merger with Prosieben for now.txt @@ -0,0 +1 @@ +Controlled by the family of former Italian Prime Minister Silvio Berlusconi, Italy's top commercial broadcaster MFE has built a potential stake of up 29.9% in the Munich-based rival as part of its ambition to consolidate the European TV sector."As of now, honestly, we cannot talk of a merger, and would be absurd talking about a takeover bid," MFE Chief Executive Pier Silvio Berlusconi said at a press briefing at the company's Italian headquarters near Milan. Earlier this week, MFE said it would complete a planned merger with its Spanish-listed subsidiary, as part of its strategy to build a European TV champion to help counter the might of U.S. streaming giants. Prosiebensat.1 has so far shown little interest in any strategic deal with MFE, which first invested in the German TV group in 2019.The MFE CEO said Prosiebensat.1's supervisory board chairman Andreas Wiele, who was appointed last year, had demonstrated openness to dialogue with the company's top investor, in a change of tack."That makes us confident the two companies can join forces to develop some joint projects," he said, citing the development of a digital TV advertising platform capable of competing with online giants such as GoogleThe chief executive, the son of the former prime minister, billed German media and politician scrutiny of MFE's investment as exploitation of his father's role in Italian politics to obstruct MFE, which wants to act "in the interest of all Prosiebensat.1 investors". At the same event, MFE Chief Financial Officer Marco Giordani ruled out the company would present "hostile candidates" for three seats on Prosiebensat.1's supervisory board at the German group's shareholder meeting in May.Giordani said there might however be room for an MFE representative on the German company's supervisory board.The executive said MFE is ready to restructure its stake in Prosiebensat.1, converting the portion held through derivatives once it received required antitrust authorisations. (Reporting by Elvira Pollina; Editing by Keith Weir)By Elvira Pollina \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Marketmind: Communication breakdown.txt b/news/GOOGL/2023.02.02/Marketmind: Communication breakdown.txt new file mode 100644 index 0000000000000000000000000000000000000000..cdb0ae53159cf84bf7082186cab19d00d29e4576 --- /dev/null +++ b/news/GOOGL/2023.02.02/Marketmind: Communication breakdown.txt @@ -0,0 +1 @@ +The Fed, ECB, and BoE have spoken, and the market's message is: We hear you, but we don't believe you.All three raised interest rates as expected this week, said they will act again at upcoming meetings, and with varying degrees of guidance and conviction said they stand ready to tighten even further if inflation conditions warrant it.But investors aren't buying it. Wall Street and world stocks have jumped, bond yields are tumbling, and economists and rates futures markets are scaling back central bank hiking expectations.Contrary to what policymakers are surely aiming for, financial conditions are easing. Look how Germany's 10-year bond yield reacted on Thursday to ECB president Lagarde's press conference - down 20 basis points, one of the biggest falls since the euro was launched in 1999. According to Goldman Sachs, U.S. financial conditions are the loosest since August and have eased 150 basis points since mid-October. That's despite 225 bps of rate hikes since September.The falling dollar and lower Treasury yields have helped loosen financial conditions across most of emerging Asia in recent weeks too. Regional risk appetite remains firm, even though a pause in the equity rally may be overdue.The MSCI Asia ex-Japan index only has to rise around 0.7% on Friday - not an insurmountable challenge on the back of Wall Street's latest bounce - to post its sixth consecutive weekly gain. That would mark 12 increases out of the last 14 weeks, while the MSCI World index has had only one down day in the last 10. Remarkable runs. (Hang Seng tech index )Watch for outsized moves in Asian tech stocks on Friday following the 23% surge in Meta Platforms Inc shares. Apple, Amazon and Google parent Alphabet also reported results after the U.S. close.On the economic data front, a batch of PMI reports will give the latest insight into the health of several key economies in Asia, including China and India, while December retail sales figures from Hong Kong and Singapore will also be released.Here are three key developments that could provide more direction to markets on Friday:- China Caixin services PMI (January)- India S&P Global Services PMI (January)- U.S. non-farm payrolls (January) (By Jamie McGeever; Editing by Deepa Babington)By Jamie McGeever \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Meta surges on cost cut, buyback plans; lifts mega-cap stocks.txt b/news/GOOGL/2023.02.02/Meta surges on cost cut, buyback plans; lifts mega-cap stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..08db19fc41fb015a796c0a66cad422c75b79f50d --- /dev/null +++ b/news/GOOGL/2023.02.02/Meta surges on cost cut, buyback plans; lifts mega-cap stocks.txt @@ -0,0 +1 @@ +Meta plans to cut costs in 2023 by $5 billion to between $89 billion and $95 billion compared with its earlier outlook of $94 billion to $100 billion, with CEO Mark Zuckerberg calling 2023 the "Year of Efficiency."The company further boosted investot confidence by forecasting first-quarter sales ahead of Wall Street estimates.If premarket gains hold, the company would add nearly $76 billion to its $401.51 billion market value. The stock slumped about 64% in 2022."Promising that 2023 will be a year of efficiency was always likely to go down well with investors concerned about the largesse in spending directed towards the unproven potential of the metaverse," said AJ Bell, investment director at Russ Mould.Meta results also sparked a rally in shares of other mega-cap firms that are set to report quarterly results later in the day. Amazon.com Inc and Google owner Alphabet Inc rose about 4% each, while Apple Inc firmed 1.1%.Shares of social media firm Pinterest Inc added about 5.8% after a report that the online pinboards firm was cutting staff by 150, nearly 5% of its workforce, while Snap Inc added 2% a day after ending nearly 10% lower after the company forecast a decline on current-quarter revenue.Rate-sensitive tech and growth stocks also got a boost as U.S. Treasury yields retreated after Federal Reserve chair Jerome Powell acknowledged on Wednesday that inflation was starting to ease. (Reporting by Medha Singh in Bengaluru; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Nasdaq futures jump more than 1% on Meta surge, Fed relief.txt b/news/GOOGL/2023.02.02/Nasdaq futures jump more than 1% on Meta surge, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..7718f4c05040d1e2fbcbab7d3e76a3485f93473f --- /dev/null +++ b/news/GOOGL/2023.02.02/Nasdaq futures jump more than 1% on Meta surge, Fed relief.txt @@ -0,0 +1 @@ +Facebook-parent Meta Platforms Inc jumped 18.9% in premarket trading after the company also announced a new $40 billion share buyback and said it would cut costs in 2023 by $5 billion to a range of $89 billion to $95 billion.Shares of other growth companies including Apple Inc, Alphabet Inc and Amazon.com Inc rose between 1.1% and 4.3%. The three companies are slated to report quarterly results after market close.Wall Street's main indexes got a boost in the previous session from Powell acknowledging that inflation was starting to ease after the U.S. central bank raised rates by 25 basis points.Although a U.S. recession is widely priced in, Powell's comments aided hopes of it being a mild one.After a bruising 2022, U.S. stock markets have made a strong start to the year, with megacap companies gaining on hopes that the Fed will pull back from its hawkish monetary policy outlook, which in turn could ease some pressure off their valuations.At 5:18 a.m. ET, Dow e-minis were down 45 points, or 0.13%, S&P 500 e-minis were up 20.75 points, or 0.5%, and Nasdaq 100 e-minis were up 179 points, or 1.44%.A 0.2% decline in shares of drugmaker Merck & Co ahead of its quarterly report weighed on Dow futures. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt b/news/GOOGL/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..7377c9230398c71d431349ca0d9e9cce14486d3a --- /dev/null +++ b/news/GOOGL/2023.02.02/Nasdaq soars more than 3% on Meta boost, Fed relief.txt @@ -0,0 +1,42 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta jumps on $40 billion share buyback*Merck slides on disappointing forecast*Align Technology climbs to nine-month high*U.S. weekly jobless claims fall to nine-month low*Indexes: Dow 0.27%, S&P 1.49%, Nasdaq 3.24%Feb 2 (Reuters) - The Nasdaq rose to a near five-month +intraday high as Meta Platforms surged on rigorous cost +controls, while a dovish message from Federal Reserve Chair +Jerome Powell boosted appetite for risky assets.The Facebook parent soared 26.9% to a near +eight-month high after it announced a new $40 billion share +buyback and said it would cut costs in 2023 by $5 billion to +between $89 billion and $95 billion.The S&P 500 Value index housing Meta jumped 2% to +more than a year's high."It certainly seems that markets are up because earnings +for Meta were surprisingly positive," said Sam Stovall, chief +investment strategist at CFRA Research in New York.Seven of the top 11 S&P 500 sectors advanced, with the +communication services sector, which includes Meta, +jumping 6.7% to its highest in five months.Apple Inc, Alphabet Inc and Amazon.com +Inc rose between 3.2% and 6.4% ahead of their quarterly +results after markets close.Wall Street's main indexes got a boost as Powell +acknowledged that inflation was starting to ease. The U.S. +central bank raised rates by 25 basis points on Wednesday.After a bruising 2022, U.S. stocks have made a strong +comeback, with megacap companies gaining on hopes that the Fed +will ease its hawkish monetary policy stance."Investors are finally looking beyond the specter of the +Federal Reserve raising rates. They see there is an eventual end +to the misery of rate hikes and are realizing so many stocks +were oversold in the misery of last year," said Peter Andersen, +founder of Andersen Capital Management.Meanwhile, data showed jobless claims unexpectedly fell last +week to a nine-month low, highlighting the labor market's +resilience, ahead of nonfarm payroll numbers on Friday.At 13:23 ET, the Dow Jones Industrial Average was +down 93.07 points, or 0.27%, at 33,999.89, the S&P 500 +was up 61.41 points, or 1.49%, at 4,180.62, and the Nasdaq +Composite was up 383.38 points, or 3.24%, at 12,199.70.The S&P 500's chart formed a "golden cross" pattern, in +which its 50-day moving average vaulted above the 200-day moving +average, perceived by many as a bullish signal for near-term +momentum.The price-weighted Dow was the only major index in the red +after disappointing earnings by some of its components. +Honeywell International Inc shed 0.5% after posting a +28.6% fall in quarterly profit.Drugmaker Merck & Co slid 4.6% on a +lower-than-expected annual forecast, while Eli Lilly & Co +dropped 5.5% on missing quarterly revenue estimates.Align Technology Inc surged 29.3% to a nine-month +high on its first quarterly results beat in a year.Analysts now see earnings of S&P 500 firms declining 2.4% +for the quarter, according to Refinitiv estimates.Advancing issues outnumbered decliners by a 2.74-to-1 ratio +on the NYSE, and by a 3.15-to-1 ratio on the Nasdaq.The S&P index recorded 33 new 52-week highs and one new low, +while the Nasdaq recorded 135 new highs and nine new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian in +Bengaluru; Editing by Vinay Dwivedi and Anil D'Silva) \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Nasdaq, S&P 500 close higher on Meta bump, Fed lift.txt b/news/GOOGL/2023.02.02/Nasdaq, S&P 500 close higher on Meta bump, Fed lift.txt new file mode 100644 index 0000000000000000000000000000000000000000..5ccf1825d36260d32b555804c9d4054f662fea74 --- /dev/null +++ b/news/GOOGL/2023.02.02/Nasdaq, S&P 500 close higher on Meta bump, Fed lift.txt @@ -0,0 +1,43 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta soars after cost controls, $40 bln share buyback*Merck slides on disappointing forecast, UnitedHealth drops*S&P 500, Nasdaq hit roughly 5-month intraday highs(Updates with U.S. market close)Feb 2 (Reuters) - The Nasdaq and S&P 500 ended higher on +Thursday after touching roughly five-month intraday highs as a +more dovish-than-expected message from Federal Reserve Chair +Jerome Powell boosted equities and Meta Platforms shares soared +on rigorous cost controls.Declines in some big healthcare stocks weighed on the +Dow.Shares of megacap stocks Apple, Amazon and +Google parent Alphabet also gained strongly ahead of +their results due after market close.Investors were still digesting the Fed's policy decision on +Wednesday and comments from Powell, who acknowledged progress in +the fight against inflation and appeared reluctant to push back +against the rally in stocks and bonds.“I think the reaction to yesterday’s Fed comments really +encouraged investors to go risk on,” said Rick Meckler, partner +at Cherry Lane Investments in New Vernon, New Jersey. "The +bottom line for investors I think is that the Fed’s comments +were unexpected.”According to preliminary data, the S&P 500 +gained 61.05 points, or 1.48%, to end at 4,180.26 points, +while the Nasdaq Composite gained 384.91 points, or +3.26%, to 12,201.23. The Dow Jones Industrial Average +fell 38.26 points, or 0.11%, to 34,054.70.After a bruising 2022, U.S. stock markets have made a strong +start to the year, with tech and other stocks that lagged last +year leading the rebound amid hopes that the Fed will temper its +aggressive rate hikes, which in turn could alleviate some +pressure on equity valuations.Those trends continued on Thursday. The communications +services sector jumped, led by a surge for Facebook +parent Meta. The company revealed stricter cost +controls this year and a $40 billion share buyback, as CEO Mark +Zuckerberg called 2023 the "year of efficiency."“I think that encapsulates what investors want to hear from +tech companies this year," said Anthony Saglimbene, chief market +strategist at Ameriprise Financial. "They want to hear that it +is a year of efficiency, they are getting out ahead of a +slowdown in the economy."UnitedHealth Group shares fell after the U.S. +government proposed Medicare Advantage reimbursement rates below +analyst estimates, and the stock weighed down the Dow. A decline +in Merck shares, after the drugmaker forecast 2023 +earnings below Wall Street estimates, also dragged on the blue +chip index.Shares of drugmaker Eli Lilly dropped after sales of +its closely watched diabetes drug missed estimates.Data showed jobless claims fell last week to a nine-month +low, highlighting the labor market's resilience, ahead of +monthly U.S. employment numbers on Friday. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi, Anil +D'Silva and Cynthia Osterman) \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Nasdaq, S&P 500 jump on Meta rise, Fed relief.txt b/news/GOOGL/2023.02.02/Nasdaq, S&P 500 jump on Meta rise, Fed relief.txt new file mode 100644 index 0000000000000000000000000000000000000000..eba3217b97e185602ba2dbc6f8591d3b321d9ffa --- /dev/null +++ b/news/GOOGL/2023.02.02/Nasdaq, S&P 500 jump on Meta rise, Fed relief.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta soars after cost controls, $40 bln share buyback*Merck slides on disappointing forecast, UnitedHealth drops*S&P 500, Nasdaq hit roughly 5 month highs*Indexes: Dow down 0.26%, S&P up 1.47%, Nasdaq up 3.38%(Updates with mid-afternoon trading)Feb 2 (Reuters) - The Nasdaq and S&P 500 jumped and +touched roughly five-month highs on Thursday as a more +dovish-than-expected message from Federal Reserve Chair Jerome +Powell boosted equities and Meta Platforms shares soared on +rigorous cost controls.The Dow slipped, weighed down by declines in some big +healthcare stocks.Shares of megacap stocks Apple, Amazon and +Google parent Alphabet also were gaining strongly +ahead of their results due after the market closes.Investors were still digesting the Fed's policy decision on +Wednesday and comments from Powell, who acknowledged progress in +the fight against inflation and appeared reluctant to push back +against the rally in stocks and bonds.“Markets are just reacting to I think a more dovish press +conference from Powell yesterday,” said Anthony Saglimbene, +chief market strategist at Ameriprise Financial. “I think the +market got out of that Fed meeting still hoping that conditions +can be easier at the end of the year.”The Dow Jones Industrial Average fell 88.57 points, +or 0.26%, to 34,004.39, the S&P 500 gained 60.52 points, +or 1.47%, to 4,179.73 and the Nasdaq Composite added +399.57 points, or 3.38%, to 12,215.89.After a bruising 2022, U.S. stock markets have made a strong +start to the year, with tech and other stocks that lagged last +year leading the rebound amid hopes that the Fed will temper its +aggressive rate hikes, which in turn could alleviate some +pressure on equity valuations.Those trends continued on Thursday. The communications +services sector jumped over 6%, led by a 26% gain for Facebook +parent Meta. The company revealed stricter cost controls this +year and a $40 billion share buyback, as CEO Mark Zuckerberg +called 2023 the "year of efficiency."“I think that encapsulates what investors want to hear from +tech companies this year," Saglimbene said. "They want to hear +that it is a year of efficiency, they are getting out ahead of a +slowdown in the economy."The consumer discretionary and tech +sectors rose 3.9% and 2.9%, respectively.The energy sector, one of last year's standout +performers, fell 3%, while healthcare dropped 1%.UnitedHealth Group shares fell 5.6% after the U.S. +government proposed Medicare Advantage reimbursement rates below +analyst estimates, and the stock weighed down the Dow. A 3.9% +decline in Merck shares, after the drugmaker forecast +2023 earnings below Wall Street estimates, also dragged on the +blue chip index.Shares of drugmaker Eli Lilly fell 6% after sales of +its closely watched diabetes drug missed estimates.Data showed jobless claims fell last week to a nine-month +low, highlighting the labor market's resilience, ahead of +monthly U.S. employment numbers on Friday.Advancing issues outnumbered declining ones on the NYSE by a +2.70-to-1 ratio; on Nasdaq, a 3.12-to-1 ratio favored advancers.The S&P 500 posted 35 new 52-week highs and one new low; the +Nasdaq Composite recorded 140 new highs and 11 new lows. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi, Anil +D'Silva and Cynthia Osterman) \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge.txt b/news/GOOGL/2023.02.02/Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge.txt new file mode 100644 index 0000000000000000000000000000000000000000..f189214a0f7c2a18b82426aa8d3681c7f3fb8950 --- /dev/null +++ b/news/GOOGL/2023.02.02/Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge.txt @@ -0,0 +1,49 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Meta soars on cost controls, $40 bln share buyback*Merck slides on disappointing forecast, UnitedHealth drops*S&P 500, Nasdaq hit roughly 5-month highs*Indexes: Dow down 0.11%, S&P up 1.47%, Nasdaq up 3.25%(Updates with after-hours trading of Apple, Amazon, Alphabet)Feb 2 (Reuters) - The Nasdaq and S&P 500 ended higher on +Thursday and touched roughly five-month highs as a more +dovish-than-expected message from Federal Reserve Chair Jerome +Powell boosted equities and Meta Platforms shares soared on +rigorous cost controls.The Dow slipped, dragged down by declines in some big +healthcare stocks.Investors were still digesting the Fed's policy decision on +Wednesday and comments from Powell, who acknowledged progress in +the fight against inflation and appeared reluctant to push back +against the rally in stocks and bonds.“I think the reaction to yesterday’s Fed comments really +encouraged investors to go risk on,” said Rick Meckler, partner +at Cherry Lane Investments in New Vernon, New Jersey. "The +bottom line for investors I think is that the Fed’s comments +were unexpected.”The Dow Jones Industrial Average fell 39.02 points, +or 0.11%, to 34,053.94, the S&P 500 gained 60.55 points, +or 1.47%, to 4,179.76 and the Nasdaq Composite added +384.50 points, or 3.25%, to 12,200.82.Shares of megacap stocks Apple, Amazon and +Google parent Alphabet also gained strongly ahead of +results due after market close on Thursday, with Apple rising +3.7%, and Amazon and Alphabet both up over 7%.In initial after-hours trading, however, shares of all three +companies fell after their respective results.After a bruising 2022, U.S. stock markets have made a strong +start to the year, with tech and other stocks that lagged last +year leading the rebound amid hopes that the Fed will temper its +aggressive rate hikes, which in turn could alleviate some +pressure on equity valuations.Those trends continued on Thursday. The communications +services sector jumped 6.7%, its biggest daily gain in +almost three years, led by a 23.3% surge for Facebook parent +Meta. The company revealed stricter cost controls this +year and a $40 billion share buyback, as CEO Mark Zuckerberg +called 2023 the "year of efficiency."The S&P 500's 50-day moving average moved above the 200-day +moving average, a pattern known as a "golden cross" that is +perceived by many as a bullish technical signal for near-term +momentum.The energy sector, one of last year's standout +performers, fell 2.5%, while healthcare dropped 0.7%.UnitedHealth Group shares fell 5.3% after the U.S. +government proposed Medicare Advantage reimbursement rates below +analyst estimates, and the stock weighed down the Dow. A 3.3% +decline in Merck shares, after the drugmaker forecast +2023 earnings below Wall Street estimates, also dragged on the +blue chip index.Shares of drugmaker Eli Lilly dropped 3.5% after +sales of its closely watched diabetes drug missed estimates.Data showed jobless claims fell last week to a nine-month +low, highlighting the labor market's resilience, ahead of +monthly U.S. employment numbers on Friday.Advancing issues outnumbered declining ones on the NYSE by a +2.29-to-1 ratio; on Nasdaq, a 2.55-to-1 ratio favored advancers.The S&P 500 posted 36 new 52-week highs and one new low; the +Nasdaq Composite recorded 162 new highs and 16 new lows.About 15 billion shares changed hands in U.S. exchanges, +compared with the 11.7 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi, Anil +D'Silva and Cynthia Osterman) \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Nasdaq, S&P close higher on Meta bump, Fed lift.txt b/news/GOOGL/2023.02.02/Nasdaq, S&P close higher on Meta bump, Fed lift.txt new file mode 100644 index 0000000000000000000000000000000000000000..0b9f8ac2cb242fae98b9bd1dc1af84e48fac6316 --- /dev/null +++ b/news/GOOGL/2023.02.02/Nasdaq, S&P close higher on Meta bump, Fed lift.txt @@ -0,0 +1 @@ +The Dow dipped a tenth of a percent, but the S&P jumped nearly one-and-a-half percent and the tech-heavy Nasdaq soared three-and-a-quarter percent.George Ball, Chairman of Sanders Morris Harris, says tech stocks are seeing a bounce on the hopes that interest rates won't be going much higher."The Dow Jones averages are actually down - so big, old American stocks down because the economy looks fine, but not great. The Nasdaq, the tech, the companies that need to borrow at low interest rates, are booming up because Chairman Powell said, 'We think things are going to be alright.' It doesn't look like there are going to be rate increases beyond those that are already priced into the market and those are modest."The biggest winner Thursday among those tech stocks: Facebook parent Meta Platforms, which soared more than 23% a day after the company revealed stricter cost controls for 2023 and a $40 billion share buyback.Shares of megacaps Apple, Amazon and Google parent Alphabet also gained strongly ahead of results that came after the market close.But in initial after-hours trading, shares of all three companies fell after their respective results. \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/No-surprise rate hikes.txt b/news/GOOGL/2023.02.02/No-surprise rate hikes.txt new file mode 100644 index 0000000000000000000000000000000000000000..2efcafd988604b7e8ee5fc53ac7f8455bbe0894b --- /dev/null +++ b/news/GOOGL/2023.02.02/No-surprise rate hikes.txt @@ -0,0 +1,35 @@ + +"The more Powell talks, the more stocks and bonds go up". This comment, which graces the front page of Bloomberg's website this morning, is apt and sums up the mood of the moment. Yesterday, the U.S. central bank raised its key rate by 25 basis points, as expected. This comes after four hikes of 75 basis points and one of 50 basis points. The Fed Funds rate is now in the range of 4.50 to 4.75%. A year ago, it was close to zero (0.08% precisely in February). This is a measure of how far we have come in making money more expensive and, as was the plan, cooling inflation. + +That's for the mathematical part. As for the narrative, investors expected to get a bit of a slap on the wrist from Fed boss Jerome Powell. After all, they had given in to their penchant for optimism by moving back into risky assets, despite calls for caution from economists and central bankers. Instead, they got a soft Powell - a nicer version than they had imagined. And by soft, I mean a central banker who didn't use the usual codes of caution and seemed to give in. There were still some warnings, but investors focused on two things. First, the Fed acknowledged that inflation was falling. Second, it didn't seem particularly concerned about the risk taking seen since January 1. And when Powell got a little tougher, the market didn't believe him. It doesn't think that there will be two more rate hikes in the current cycle. Nor does it believe that a rate cut is unthinkable by the end of the year. +As a result, Wall Street up sharply after the press conference. The Nasdaq recovered 2.16% at the end of the day. This is the fourth time in ten sessions that the U.S. technology index gains more than 2%. The S&P500 was up 1.05% at the close. Penalized by its oil and health stocks, the Dow Jones limited its gains to 0.02%. If we had to summarize the session, tech blinked in fluorescent green and energy in red. +Today, the focus turned to the Bank of England and the ECB. The former is facing an inflation of 9.2% with key rates at 3.5%. The latter is facing an inflation of 8.5% with rates at 2.50%. Experts expected a 50 basis point tightening for both institutions, and that's what happened. +The Bank of England raised interest rates for the 10th consecutive time but dropped its pledge to continue to increase them "forcefully" if needed and said inflation had probably peaked. It voted to increase the Bank Rate to 4.0%. The European Central Bank raise rates to 2.5%. +At the same time, corporate earnings releases continue. After several disappointments, Meta Platforms delivered figures that reassured investors last night. The former Facebook was up 20% in after-hours trading, which helped fuel the rebound in technology stocks. Several dozen large companies are scheduled to report today, up to the trio of Apple, Amazon, Alphabet tonight after the close of Wall Street. In premarket trading, futures were up 1.7% on the Nasdaq 100 and 0.7% on the S&P 500, while the Dow was flat. +  +Economic highlights of the day: +We have the Challenger survey on layoffs (8:15 am), weekly jobless claims (10:30 am) and durable goods orders (10:00 am). All the agenda here. This morning, the Caixin Manufacturing PMI for China came in below expectations at 49.2 points, while the "official" PMI was in expansion territory.  +The dollar is up 0.2% against the euro to EUR 0.9105 and up 0.5% against the pound to GBP 8118. The ounce of gold is back up to 1953 dollars. Oil suffered yesterday, with North Sea Brent crude at USD 82.43 a barrel and U.S. light crude WTI at USD 76.08. The yield on 10-year US debt is down to 3.42%. Bitcoin remains near USD 23,000. +  +In corporate news: +* Meta Platforms jumped 19 percent in pre-market trading after announcing Wednesday night a $40 billion share buyback program, tighter cost controls this year and an upbeat forecast for its first-quarter revenue. Apple, Alphabet and Amazon, which will report results after the U.S. markets close, were up 1.1% to 4.3% in pre-market trading. +* Eli Lilly on Thursday raised its full-year profit target, expecting higher demand for its new diabetes drug Mounjaro. +* Estee Lauder raised its full-year sales forecast Thursday on solid demand for its products and an expected recovery in China, its largest market. +* Honeywell reported a 28.6% drop in fourth-quarter profit, hurt by supply problems and labor shortages. +* Merck reported a better-than-expected quarterly profit on strong Asian sales of its Covid-19 antiviral. The company's profit forecast for this year, however, came in below analysts' consensus, sending the stock down 1% in premarket trading. +* KKR has made a non-binding offer to acquire a majority stake in Telecom Italia's fixed-line telecommunications network, the Italian group said Thursday, adding that its board of directors would meet later today to discuss the deal. +* Boeing won a $1.62 billion contract from the U.S. Air Force to supply guidance systems for the Minuteman III intercontinental ballistic missile. +* Pinterest decided to lay off about 150 employees, less than 5 percent of its workforce, Bloomberg reported Wednesday. The stock was up 5.4 percent in premarket trading. +* Metlife reported a 33% drop in adjusted fourth-quarter profit on Wednesday. +  +Analyst recommendations: + +EasyJet: JP Morgan reiterates its Sell rating on the stock. The target price has been raised to GBp 370 from GBp 310. +Fedex: Citi upgrades to buy from neutral. PT up 19% to $240. +Goldman Sachs: Oppenheimer lifts price target to $463 From $441, Maintains Outperform rating +McDonald's: BofA Securities lowers PT to $297 from $303, Maintains Neutral rating +Meta Platforms: Piper Sandler upgrades to overweight from neutral. PT up 40% to $215. +Pets at Home: Liberum downgrades from buy to hold targeting GBp 390. +Standard Chartered: Goldman Sachs downgrades to neutral from buy. PT up 29% to 885 pence. +Stryker: DA Davidson raises price target to $290 From $250, Maintains Buy rating. + diff --git a/news/GOOGL/2023.02.02/OECD offers final guidance for global minimum corporate tax.txt b/news/GOOGL/2023.02.02/OECD offers final guidance for global minimum corporate tax.txt new file mode 100644 index 0000000000000000000000000000000000000000..82248626daaa325b0c42b8a655f71b9fe0a52210 --- /dev/null +++ b/news/GOOGL/2023.02.02/OECD offers final guidance for global minimum corporate tax.txt @@ -0,0 +1 @@ +In the deepest overhaul of cross-border tax rules in a generation, nearly 140 countries had agreed in 2021 to apply a minimum tax rate of 15% on multinationals by committing to a top-up tax on profits booked in countries that have lower rates.The reform, which the OECD expects will yield an extra $220 billions in tax income globally, aims to update decades-old rules on cross-border tax for the digital age where tech giants like Apple and Google can book profits in low-tax countries such as Ireland.The OECD's final guidance aims to clarify lingering details so that governments adopt tax codes in a consistent and coordinated manner to limit compliance costs for companies and potential for conflicts.The OECD said it offered details particularly on how other governments should recognise an existing U.S. minimum tax known as the Global Intangible Low-Taxed Income, or GILTI, which covers patents, trademarks, or copyrights.The guidance, eagerly awaited by companies and tax advisors in addition to tax administrations, also fleshes out details on the scope of companies covered as well as operational and transition steps.The U.S. Treasury Department said the guidance would provide clarity, while protecting tax incentives such as the green tax credits contained in the Inflation Reduction Act.      "The continued progress in implementing the global minimum tax represents another step in levelling the playing field for U.S. businesses," said Assistant Secretary of the Treasury for Tax Policy Lily Batchelder. She said it will also protect U.S. workers and middle-class families by ending the race to the bottom in corporate tax rates.The overhaul is gathering steam ahead of implementation early next year after EU countries agreed in December on the roll out of the minimum tax across the 27-nation bloc. Japan is preparing its domestic legislation and Switzerland is due to hold a referendum in June.However, the outlook is less certain for separate plans under the overhaul to re-allocate 25% of profit from the world's largest multinationals for taxation in the countries where their clients are, regardless of their physical location. (Reporting by Leigh Thomas in Paris; Additional reporting by Andrea Shalal in Washington; Editing by Arun Koyyur) \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Publicis sees more growth this year as clients keep spending on digital marketing.txt b/news/GOOGL/2023.02.02/Publicis sees more growth this year as clients keep spending on digital marketing.txt new file mode 100644 index 0000000000000000000000000000000000000000..2c99b7242385f954972ae9a51ee1e94c45dabb1a --- /dev/null +++ b/news/GOOGL/2023.02.02/Publicis sees more growth this year as clients keep spending on digital marketing.txt @@ -0,0 +1 @@ +Despite a challenging 2022 marked by inflation, COVID-19 in China and a slowdown in global advertising spending, Publicis last year twice raised its guidance as client spending on digital marketing boosted sales. "We haven't noticed a change in the behaviour of our customers due to inflation," Chief Executive Arthur Sadoun told journalists in a call regarding Thursday's results, echoing statements from October.Its digital and data-driven businesses Epsilon and Sapient, the former of which was acquired in 2019, had organic growth of 12% and 19%, respectively, in 2022."Now, we're on the lookout for so-called bolt-on acquisitions," Sadoun added.CLIENTS PREFER RETAIL MEDIAResponding to a question on clients' preferences for ad placement, Sadoun said there was a transfer away from traditional television and towards smart TVs, as well as towards retail media in general and first-party data."There is an underlying trend towards our clients who say: instead of going to invest on CNN, we're going to go to Walmart.com because by definition it's more efficient, it's more direct, I'm building a direct relationship with my consumer."He added that clients' willingness to continue advertising on Twitter varied on a case-by-case basis.Publicis, which owns ad agencies Leo Burnett and Saatchi & Saatchi, hopes to navigate a global shift in advertising trends as Alphabet Inc's Google looks to phase out the use of third-party cookies.The company recorded organic growth of +10.1% in 2022 with net revenue reaching 12.57 billion euros ($13.81 billion), against 10.49 billion in 2021.($1 = 0.9102 euro) (Reporting by Olivier Sorgho in Gdansk; Editing by Matthew Lewis)By Olivier Sorgho \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Sex, lies and video cams: Andrew Tate turned women into slaves,...txt b/news/GOOGL/2023.02.02/Sex, lies and video cams: Andrew Tate turned women into slaves,...txt new file mode 100644 index 0000000000000000000000000000000000000000..7821bbcef3d3e5878bda80eeb9e00065c7784809 --- /dev/null +++ b/news/GOOGL/2023.02.02/Sex, lies and video cams: Andrew Tate turned women into slaves,...txt @@ -0,0 +1 @@ +"You must understand that once you are mine, you will be mine forever," Tate told her on Feb. 4 last year in one of dozens of WhatsApp messages cited by Romanian prosecutors who allege he trafficked and sexually exploited several women. Tate, an influencer with millions of online followers, urged the Moldovan woman to join him in Romania. "Nothing bad will happen," he reassured her on Feb. 9. "But you have to be on my side."The following month, Romanian prosecutors say, Tate raped the woman twice in the country while seeking to enlist her in a human-trafficking operation focused on making pornography for the online platform OnlyFans, a site that allows people to sell explicit videos of themselves. The allegations and messages are included in a previously unpublished court document, dated Dec. 30 and reviewed by Reuters, which paints the most detailed picture yet of the illicit business allegedly run by Tate, a former kickboxing world champion, and his brother Tristan. They came to light following the arrest of the brothers on Dec. 29 on charges of forming a criminal gang to sexually exploit women.Andrew Tate, 36, who's been based mainly in Romania since 2017, and his 34-year-old brother have denied all the allegations against them. Reuters was unable to reach them in police detention for comment.In response to questions, their attorney Eugen Vidineac said he couldn't publicly confirm or deny information about the case while the investigation was ongoing. Romania's anti-organized crime unit also said its prosecutors couldn't comment on the probe. Reuters translated the WhatsApp exchanges with the Moldovan women - which appear in Romanian in the court document - back into English, their original language. While accurate, the translation of the Romanian version provided by prosecutors may not be identical to the initial wording. The brothers used deception and intimidation to bring six women under their control and "transform them into slaves", prosecutors said in the document. The 61-page file, produced by Bucharest court officials, comprises minutes of a hearing when a judge extended the Tates' detention plus evidence submitted by the prosecution. Attorney Vidineac said the brothers' alleged victims weren't mistreated, but "lived off the backs of the famous Tates", according to the court document. "They were joyful and nobody was forcing them to do these things," he added.Vidineac acknowledged in the document that Andrew Tate and the Moldovan woman had sex but he said it was consensual and accused her of fabricating the rape claims. Reuters couldn't independently corroborate the version of events provided by prosecutors or the defence lawyer, and was unable to reach the six women named in the document for comment. The news organization does not typically identify alleged victims of sexual crimes unless they have chosen to release their names.Two of the women told Romanian TV station Antena3 on Jan. 11 that they're not victims and the Tates are innocent. The station identified them only by first names, Beatrice and Iasmina. "You cannot list me as a victim if I say I am not one," Beatrice told the station. The four other women, including the Moldovan woman, haven't publicly commented.ONLYFANS: WE'VE MONITORED TATE The allegations facing Tate have put intense focus on a self-described misogynist who has built an online fanbase, particularly among young men, by promoting a lavish, hyper-macho image of driving fast cars and dating beautiful women.  In 2022, he was the world's eighth-most Googled person, outranked only by figures such as Johnny Depp, Will Smith and Vladimir Putin, according to Google's analysis. Prosecutors say the Tates controlled the victims' OnlyFans' accounts and earnings amounting to tens of thousands of euros, underlining concerns among some human rights groups about the potential for the exploitation of women on such platforms. Reuters couldn't verify the existence of the alleged victims' OnlyFans accounts.UK-based OnlyFans has 150 million users who pay "creators" monthly fees of varying amounts for their content, much of it erotic or pornographic, but also in areas such as fitness training and music. The company, whose 1.5 million creators can earn anything from hundreds of dollars to tens of thousands a month, says on its website it's "the safest digital media platform". It was founded in 2016 and grew rapidly during COVID-19 lockdowns. Spokesperson Sue Beeby told Reuters that Andrew Tate "has never had" a creator account or received payments. She said OnlyFans had been monitoring him since early 2022 and taken "proactive measures" to stop him posting or monetizing content, without elaborating on the reasons for the scrutiny or the steps taken. She added that creators as a whole underwent extensive identification checks and that all content was reviewed by the platform, which worked closely with law enforcement. Vidineac declined to comment about the measures taken by OnlyFans against Tate. HOW I GET WOMEN TO LOVE MEAndrew Tate's image has been stoked by a series of contentious comments. He's compared women to dogs and said they bear some responsibility for being raped. His remarks got him banned from Facebook, Instagram and other leading social media platforms last year. A spokesperson for Meta said Tate was banned in August 2022 from its Facebook and Instagram platforms for violating its policies, which forbid "gender-based hate, any threats of sexual violence, or threats to share non-consensual intimate imagery".Tate said on a podcast in 2021 that he had started a webcam business in Britain that had peaked with 75 women working for him earning $600,000 a month - a sum Reuters was unable to independently verify. He didn't elaborate in the podcast on what the women did. Up until last month, his website offered a course costing more than $400 that promised to teach "every step to building a girl who is submissive, loyal and in love with you". "THAT IS MY SKILL. To extremely efficiently get women in love with me," he said on the website. The pages about the course, reviewed by Reuters, were removed in January.In a separate YouTube video aimed at men who want to make money by putting women on OnlyFans, Tate called the platform "the greatest hustle in the world". The original date of the video, which was uploaded multiple times, is unclear.In the court document, lawyer Vidineac said Tate's online persona was a "virtual character" constructed to gain followers and make money, and had "nothing to do with the real man".Tate's Twitter account, reinstated in November, one month after billionaire Elon Musk bought the platform, protests his innocence to his 4.8 million followers. "They have arrested me to 'look' for evidence ... which they will not find because it doesn't exist," said a Jan. 15 post.AMERICAN WOMAN 'VERY AFRAID'Tate first met the Moldovan woman virtually on Instagram in January 2022 before they met in person in London the following month, and by March she was in Romania, prosecutors said in the court document, which includes WhatsApp exchanges between Feb. 4 and Apr. 8.Authorities moved on the brothers on Apr. 11, when police raided one of their properties in Bucharest on suspicion that an American woman was being held there against her will.According to prosecutors, the American woman - another of the alleged six victims - met Tristan Tate online in November 2021, then in person in Miami the following month. They said he lured her to Romania by expressing "false feelings" for her and promising a serious relationship, paid for her plane ticket and said he could help her earn "100K a month" on OnlyFans.Tristan Tate picked her up at Bucharest airport in a Rolls-Royce on April 5 2022, and took her back to his house, which had two armed guards, the court document said. He told her she wasn't a prisoner but said the guards wouldn't let her outside without his permission, it added. He said it was dangerous for her to leave "because he had enemies".There were cameras all over the house, which Tristan Tate monitored remotely, prosecutors said in the document. He once messaged the American to say he could see where she was and what she was doing, they said.When she moved to another house with four of Andrew Tate's "girlfriends" she was allowed outside but only if accompanied by other women, said the prosecutors, adding that she was "very afraid" of the brothers.In the document, Tate's lawyer said the American woman had a mobile phone, internet access and the freedom to leave the house as she pleased.The woman has not spoken publicly about the Tates or the prosecutors' allegations.Romanian prosecutors said on Jan. 15 that as part of their probe into the suspects they had seized assets worth almost $4 million, including a fleet of luxury cars from Andrew Tate's compound on the outskirts of Bucharest. 'SEXUALLY EXPLOITATIVE CONTENT'The detention of the Tates, along with two Romanian women accused of working for them, has been extended to Feb. 27. Their appeal against that detention was rejected by a court on Wednesday. A judge can order their detention for up to 180 days while the investigation is ongoing, which means it could stretch into late June.The suspected accomplices, Georgiana Naghel and Luana Radu, controlled the six victims' OnlyFans and TikTok accounts on behalf of the Tates, skimming off half the revenue and fining women for being late or sniffling on camera, said prosecutors. The pair threatened to beat the women up if they did not do their job, according to the court document.Naghel and Radu have denied all the allegations against them. Vidineac, who also represents Naghel, and Radu's lawyer said they couldn't comment on the case.The Tates' operation put women on TikTok to drive traffic to OnlyFans because of its lucrative subscriptions, prosecutors said. Reuters couldn't independently verify the existence of the TikTok accounts in question.TikTok said in a statement that Andrew Tate was banned from its platform, and that it had been taking action against videos and accounts related to him that violated its prohibition against "sexually exploitative content". The company declined to comment further, citing Romania's ongoing investigation.      (Reporting by Luiza Ilie, Octav Ganea and Andrew R.C. Marshall. Editing by Jason Szep and Pravin Char)By Luiza Ilie, Octav Ganea and Andrew R.C. Marshall \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Stocks rally, U.S. yields flat on hope for central banks pause.txt b/news/GOOGL/2023.02.02/Stocks rally, U.S. yields flat on hope for central banks pause.txt new file mode 100644 index 0000000000000000000000000000000000000000..a9990c4de8f3c3dad853c6c145c7f3e6a4ea585a --- /dev/null +++ b/news/GOOGL/2023.02.02/Stocks rally, U.S. yields flat on hope for central banks pause.txt @@ -0,0 +1,51 @@ +*Markets see Fed, BoE and ECB rate-hike cycle end on +horizon*Dollar bounces after biggest daily pct drop in a month*Meta scores biggest daily pct jump in nearly a decadeNEW YORK, Feb 2 (Reuters) - A gauge of global stocks +climbed for a third straight day and longer-dated U.S. Treasury +yields were flat on Thursday, as policy announcements from a +host of central banks added to optimism that the cycles of +interest rate hikes may be near an end.After the U.S. Federal Reserve raised rates by 25 basis +points (bps) on Wednesday, as was widely expected, markets +rallied following comments from Fed Chair Jerome Powell +acknowledging the "disinflationary" process may have begun.The European Central Bank (ECB) and Bank of England (BoE) +hiked by 50 basis points each on Thursday, with the BoE +signaling the tide was turning against inflation and the ECB +indicating at least one more hike was on the horizon.On Wall Street, the S&P 500 and Nasdaq rallied, with the S&P +500 closing at its highest intraday level since Aug. 19 and the +Nasdaq closing at its highest since Sept. 12, getting an +additional boost from a 23.28% surge in Facebook parent Meta +Platforms Inc, its biggest daily percentage jump since +July 25, 2013, following its quarterly results and $40 billion +buyback announcement. That helped the S&P communication services +sector jump 6.74%, its biggest daily percentage gain +since March 13, 2020."The reaction to yesterday’s Fed comments really encouraged +investors to go risk-on,” said Rick Meckler, partner at Cherry +Lane Investments in New Vernon, New Jersey."The bottom line for investors, I think, is that the Fed’s +comments were unexpected.”The Dow Jones Industrial Average fell 39.02 points, +or 0.11%, to 34,053.94 while the S&P 500 gained 60.55 +points, or 1.47%, to 4,179.76 and the Nasdaq Composite +added 384.50 points, or 3.25%, to 12,200.82.On the economic front, weekly initial jobless claims dropped +to a nine-month low, showing the labor market remains strong, +while worker productivity in the fourth quarter accelerated. +Investors will eye the January payrolls report on Friday for +further signs of labor market strength.With 46% of the S&P 500 having reported results, earnings +for the quarter are expected to decline 2.4% from the year-ago +period, according to Refinitiv data, compared with a 1.6% +expected decline at the start of the year.After the closing bell, Amazon shares lost 6.56% and Google +parent Alphabet dropped 6.09% after their quarterly +results.European stocks also jumped, with the STOXX 600 closing at +its highest level since April 21 as it notched its biggest +one-day percentage gain in a month.The pan-European STOXX 600 index rose 1.35% and +MSCI's gauge of stocks across the globe gained +1.12%. The MSCI index hit its highest intraday level since May 5 +and was on track for its ninth gain in the past ten sessions.Benchmark 10-year notes were unchanged to +3.398%, reversing an earlier move lower.The dollar bounced, however, from its biggest one-day +percentage drop in nearly a month on Wednesday, while the euro +and sterling weakened following the ECB and BoE announcements.The dollar index rose 0.773%, with the euro +down 0.73% to $1.0909.The Japanese yen strengthened 0.21% versus the +greenback at 128.67 per dollar, while sterling was last +trading at $1.2228, down 1.20% on the day.In commodities, the dollar strength served to dent oil +prices, with U.S. crude settling down 0.69% at $75.88 per +barrel and Brent settled at $82.17, down 0.81% on the +day.(Reporting by Chuck Mikolajczak; additional reporting by Karen +Brettell, Lewis Krauskopf and Lisa Pauline Mattackal; editing by +Jonathan Oatis, Chizu Nomiyama and Nick Zieminski) \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/Tech earnings hit pause button on market rally.txt b/news/GOOGL/2023.02.02/Tech earnings hit pause button on market rally.txt new file mode 100644 index 0000000000000000000000000000000000000000..377052e8cc9d1dcc5c44819b5cbb3ca0821be082 --- /dev/null +++ b/news/GOOGL/2023.02.02/Tech earnings hit pause button on market rally.txt @@ -0,0 +1 @@ +Apple Inc, Google parent Alphabet and Amazon.com all posted results for the end-of-year quarter that left a sour taste in investors' mouths. The reports renewed questions about global economic demand, the effect of higher interest rates and whether the market's January rally got ahead of itself.Nascent signs that consumer spending was beginning to rebound in China were not enough to change that.Apple, the world's largest publicly traded company, fell short of expectations, hurt by lower iPhone sales and production disruptions in China. Amazon said operating profits could fallthis quarter due to lower demand, and Alphabet's online advertisers cut back their spend as well. Shares of the three companies dropped after the results were released and were expected to drag the market lower Friday following a euphoric rally Thursday. "Maybe the tech stocks rallied a little bit too much into these numbers, so the market will be taking a deep breath and saying, 'OK, well these companies aren't bulletproof,'" said Daniel Morgan, senior portfolio manager at Synovus Trust Company in Atlanta, Georgia. These three firms and Microsoft, the four U.S. companies with trillion-dollar market values, have led the broad-market S&P 500 in 2023. The index is up nearly 9% year-to-date, with Amazon gaining 34%. Big Tech surged Thursday following a strong quarterly report from Facebook-owner Meta Platforms Inc.That's after the group was battered throughout 2022, trailing the S&P, which dropped nearly 20%. Some investors saw silver linings from Apple and other bellwethers, including Starbucks, that reported results on Thursday. They noted that lockdowns in China strangled sales for many companies in the world's second-biggest economy, expecting a rebound in the coming year. "When things started to reopen in December (in China), we did see an increase in traffic to our stores as compared to November and an increase in demand as December rolled around," Apple Chief Executive Tim Cook told Reuters.Cook said lockdowns in China hurt both production and demand, and the company faced headwinds from the strong U.S. dollar that pushed revenues lower."Currency was a headwind but will be a tailwind in Q1," said Nancy Tengler, chief executive of Laffer Tengler Investments in Scottsdale, Arizona, referring to the dollar's weakening trajectory. "The supply chain was a problem more so than demand, and that seems to have been right-sized." Similarly, Starbucks said comparable sales fell 29% from the previous year in China, the company's fastest-growing market, but that beginning in January, it saw "very encouraging" recovery momentum there. Other U.S. consumer bellwethers painted a mixed picture. Consumer staples giant Clorox said product volumes fell in three of the company's four business segments in the fourth quarter, while automaker Ford said the year ahead was going to be a difficult one. They, and other companies, are still grappling with higher interest rates that are slowing demand. This year's surge in stocks has been built on a rally in bonds, as lower yields make high-valuation shares more attractive. Cost-cutting by Alphabet and Meta led some investors to think that interest rates are affecting demand."In many respects we're waiting for that other shoe to drop - the impact of higher rates on the economy, inflation, earnings and jobs," said Jack Ablin, co-founder and chief investment officer at Cresset Capital, which manages $30 billion. "Profits tend to trough nine months after overnight rates peak and we haven't even seen the peak in overnight rates yet." (Reporting By Herbert Lash, Caroline Valetkevitch and David Gaffen; writing by David Gaffen; Editing by Peter Henderson and Cynthia Osterman)By Caroline Valetkevitch and Herbert Lash \ No newline at end of file diff --git a/news/GOOGL/2023.02.02/U.S. senator urges Apple, Google to ban TikTok.txt b/news/GOOGL/2023.02.02/U.S. senator urges Apple, Google to ban TikTok.txt new file mode 100644 index 0000000000000000000000000000000000000000..aed93f132b980b3ecfec48438cc957f652e07762 --- /dev/null +++ b/news/GOOGL/2023.02.02/U.S. senator urges Apple, Google to ban TikTok.txt @@ -0,0 +1 @@ +Democrat Michael Bennet, a member of the Senate Intelligence Committee, on Thursday sent a letter to Apple CEO Tim Cook and Alphabet Chief Executive Sundar Pichai saying TikTok should be removed from both the Apple and Google Play app stores.Congress has already banned TikTok, which is owned by Chinese company ByteDance, from federal government devices.The social media app, which showcases short videos, has come under increasing criticism because of concern that China's government could use it to harvest data on Americans or to advance Chinese interests.In his letter to Cook and Pichai, Sen. Bennet wrote (quote), "No company subject to CCP (Chinese Communist Party) dictates should have the power to accumulate such extensive data on the American people or curate content to nearly a third of our population.... Given these risks, I urge you to remove TikTok from your respective app stores immediately."Prior to Bennet's letter, Republicans have largely led the charge on TikTok and its potential national security concerns, although Democratic Senator Dick Durbin previously urged Americans to stop using the app.In the U.S. House of Representatives, which is now in Republican hands, the Foreign Affairs Committee plans to hold a vote this month on a bill aimed at blocking TikTok's use in the U.S.In 2020, then-President Donald Trump attempted to block new users from downloading TikTok, but the move was rebuffed by the courts.For its part, the company says that China's government cannot access the personal data of U.S. citizens or manipulate the app's content. \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/'Life goes on' after Brazil riots but problems must...txt b/news/GOOGL/2023.02.03/'Life goes on' after Brazil riots but problems must...txt new file mode 100644 index 0000000000000000000000000000000000000000..e06b44a14ac337c837a96dcc9070075eb9597a64 --- /dev/null +++ b/news/GOOGL/2023.02.03/'Life goes on' after Brazil riots but problems must...txt @@ -0,0 +1 @@ +Speaking to reporters on the sidelines of a business conference in Portugal's capital Lisbon, Mendes said problems "accumulated" during the four years far-right leader Jair Bolsonaro was in power. Bolsonaro supporters stormed government buildings on Jan. 8, calling for a military coup to restore their leader who left the country without conceding defeat by leftist President Luiz Inacio Lula da Silva, who was sworn in on the first day of the year."There's a debate taking place about the role of these radical groups, (about) what needs to be done," Mendes said, explaining authorities were looking into the alleged involvement of security forces in the riots.Lula has said the local militarised police force did not do enough to stop the advance of the protesters. The Supreme Court is leading the criminal probe into the riots.Mendes said it was important to discuss reforms in the security sector to tackle what he described as the "politicisation" of the police. He said there were issues with the armed forces too. He also said it was crucial to address the role played by social media platforms. People took to social media and messaging platforms to organise protests in support of Bolsonaro. Facebook parent Meta and Google's video platform YouTube said they removed content supporting or praising the riots."It is a responsible reflection ... but (the current) situation (is) of normality," Mendes said. "The country is moving forward... The stock market continues to rise, the dollar is under control, congress is functioning, life goes on as usual."I think democracy, once again, showed its resilience." (Reporting by Catarina Demony; Editing by Nick Macfie)By Catarina Demony \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Alphabet A : Buy rating from Goldman Sachs.txt b/news/GOOGL/2023.02.03/Alphabet A : Buy rating from Goldman Sachs.txt new file mode 100644 index 0000000000000000000000000000000000000000..60dd94e4206cfe5a31389b9d7d6e52f2bbec48a1 --- /dev/null +++ b/news/GOOGL/2023.02.03/Alphabet A : Buy rating from Goldman Sachs.txt @@ -0,0 +1 @@ +Already positive, the research from Goldman Sachs and its analyst Eric Sheridan still consider the stock as a Buy opportunity. The target price is slightly modified from 130 to 128 USD. \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Alphabet A : Credit Suisse reaffirms its Buy rating.txt b/news/GOOGL/2023.02.03/Alphabet A : Credit Suisse reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..2be43fcf4195cb21d59203614dcfccb8b1f24264 --- /dev/null +++ b/news/GOOGL/2023.02.03/Alphabet A : Credit Suisse reaffirms its Buy rating.txt @@ -0,0 +1 @@ +Credit Suisse is positive on the stock with a Buy rating. The target price is reduced from USD 145 to USD 136. \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Alphabet A : JP Morgan remains its Buy rating.txt b/news/GOOGL/2023.02.03/Alphabet A : JP Morgan remains its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..8d11efccd3eaf8985243c5e571157970e291e03b --- /dev/null +++ b/news/GOOGL/2023.02.03/Alphabet A : JP Morgan remains its Buy rating.txt @@ -0,0 +1 @@ +In a research note, JP Morgan analyst Douglas Anmuth has maintained his recommendation on the stock with a Buy rating. No major update to the target price set at USD 115 compared to USD 118. \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Alphabet A : Jefferies remains its Buy rating.txt b/news/GOOGL/2023.02.03/Alphabet A : Jefferies remains its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..420bd70d744dd6a054f99905f4f54e43bb131901 --- /dev/null +++ b/news/GOOGL/2023.02.03/Alphabet A : Jefferies remains its Buy rating.txt @@ -0,0 +1 @@ +In a research note published by Brent Thill, Jefferies advises its customers to buy the stock. The target price is still set at USD 125. \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Alphabet A : RBC reaffirms its Buy rating.txt b/news/GOOGL/2023.02.03/Alphabet A : RBC reaffirms its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..28acb34ffb4c6f443d6027a72513bfb910b0b076 --- /dev/null +++ b/news/GOOGL/2023.02.03/Alphabet A : RBC reaffirms its Buy rating.txt @@ -0,0 +1 @@ +In a research note, RBC analyst Brad Erickson has maintained his recommendation on the stock with a Buy rating. The target price is unchanged at USD 130. \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Analysis-From Meta to Microsoft, AI's big moment is here.txt b/news/GOOGL/2023.02.03/Analysis-From Meta to Microsoft, AI's big moment is here.txt new file mode 100644 index 0000000000000000000000000000000000000000..c429b7e146c01d6520578bb1ca3616889273517f --- /dev/null +++ b/news/GOOGL/2023.02.03/Analysis-From Meta to Microsoft, AI's big moment is here.txt @@ -0,0 +1 @@ +This week, chief executives across the sector packed earnings calls with mentions of the heavily hyped technology, which until recently existed more in the background than as a solid contributor to the bottom line.In conference calls after financial results, tech execs uttered the phrases "AI," "generative AI," or "machine learning" from two to six times as often as they did in the previous quarter, according to a review of conference transcripts by Reuters. Executives from Microsoft Corp and Alphabet Inc, behind the latest big rivalry in tech, took their battle to the conference-call front lines. On Thursday, Alphabet appeared to edge out the competition. The Google-owner's call referred to AI 45 times, up from 13 times at the end of the third quarter, outpacing Microsoft, whose call was peppered with 39 references, up from 15 in the previous quarter.The release of software that can generate virtually text and images, exemplified by ChatGPT, a chatbot from the startup OpenAI, has set off a race to integrate AI into more products and for investors to bet on which company will emerge on top.Microsoft's investment in OpenAI and aggressive efforts to make ChatGPT widely available to its cloud customers, among other plans, represent a new challenge to Alphabet. Industry observers have said embedding human-like, ChatGPT-style responses in Microsoft's Bing search engine could give it a leg up on Alphabet's Google, long the information search leader.In a potential nod to the public's ChatGPT fixation, Alphabet CEO Sundar Pichai said Google remained in the game."We'll pursue this work boldly, but with a deep sense of responsibility," he said.AI software will be an important focus for Alphabet, which is planning to make its own LaMDA chatbot software publicly available in the coming weeks, he added.David Heger, an analyst with Edward Jones, said Google was opening up more about its large AI investments after staying quiet."They were much more vocal about how that benefits pretty much all parts of their business and how they expect that to be further integrated into their business going forward," he said.SHAPING SOCIAL MEDIASnap Inc CEO Evan Spiegel said on the social media company's fourth-quarter call that generative AI would be critical over the next five years to growing augmented reality (AR), which is important to its business.That technology, which overlays computerized images onto the real world, is currently limited because artists must build 3D models, but generative AI can speed up the process, Spiegel said."Imagine playing around with your kids wearing AR glasses and saying, 'oh my gosh, there's a pirate ship and a big monster.' We can bring those to life using generative (AI) art, which I think is really exciting," he said.Mark Zuckerberg likewise called generative AI "an extremely exciting new area" on Wednesday during a conference call that referenced the phrase 30 times, up from 22 times in the previous quarter. The Facebook founder and CEO of Meta Platforms Inc, whose shares rocketed 20% after reporting financial results, said users could expect the company to "launch a number of different things this year" in generative AI.Meta plans to incorporate the new technology across almost all its products, such as generating images, videos, avatars and 3D assets, Zuckerberg said. The software will  help content creators produce more across Meta's apps, he added. And marketers could use generative AI to help with written copy for their paid posts or create imagery and video, Nicola Mendelsohn, vice president of the global business group for Meta, said in an interview."One of my goals for Meta is to build on our research to become a leader in generative AI," said Zuckerberg.Even at Apple Inc, where hardware such as the iPhone has reigned supreme, AI is a big part of the future.Asked by an analyst about Apple's AI strategy, Chief Executive Tim Cook said Thursday the company is using such tech to power features like car crash detection in its iPhone and Apple Watch, and that it will be applied throughout Apple's products and services."We see an enormous potential in this space to affect virtually everything we do," Cook said. "It's obviously a horizontal technology, not a vertical. And so it will affect every product and every service that we have." (Reporting By Sheila Dang, Greg Bensinger, Stephen Nellis, Nivedita Balu, Tiyashi Datta, Chavi Mehta, Yuvraj Malik and Jeffrey Dastin; editing by Kenneth Li, Aditya Soni and Jonathan Oatis)By Jeffrey Dastin \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Analyst recommendations: Alphabet, Apple, Boeing, Meta, Starbuck...txt b/news/GOOGL/2023.02.03/Analyst recommendations: Alphabet, Apple, Boeing, Meta, Starbuck...txt new file mode 100644 index 0000000000000000000000000000000000000000..6890e9bc281c93bbad3ac61462ed7eb21a11115a --- /dev/null +++ b/news/GOOGL/2023.02.03/Analyst recommendations: Alphabet, Apple, Boeing, Meta, Starbuck...txt @@ -0,0 +1,19 @@ + +  + +Alphabet: Morgan Stanley upgrades to $135 from $125. Maintains overweight rating.  +Apple: JP Morgan has maintained its recommendation on the stock with a Buy rating. The target price differs slightly and is now set at USD 175 versus USD 180. +Asos: Deutsche Bank downgrades from buy to hold targeting GBp 950. +Bakkavor: HSBC downgrades from hold to low, targeting GBp 100. +Boeing: RBC Capital Markets downgrades to sector perform from outperform. PT up 7.5% to $225. +Cardinal Health: Baird upgrades to outperform from neutral. PT up 23% to $94. +C.H. Robinson: Stifel downgrades to hold from buy. PT down 5.2% to $99. +Cognizant: Baird downgrades to neutral from outperform. PT down 3.8% to $68. +Direct Line: Barclays downgrades to underweight from equal-weight. PT down 7.7% to 173 pence. +Marks and Spencer: Deutsche Bank upgrades to buy from hold. PT up 30% to 210 pence. +Meta Platforms: DZ Bank upgrades to hold from sell. PT down 4.6% to $180. +Pets at Home: Deutsche Bank downgrades to hold from buy. PT down 4.7% to 355 pence. +SLM: Wells Fargo Securities downgrades to equal-weight from overweight. PT jumps 8.1% to $16. +Standard Chartered: Investec upgrades to buy from hold. PT up 11% to 740 pence. +Starbucks: Fubon Securities downgrades to neutral from buy. PT up 12% to $122. + diff --git a/news/GOOGL/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt b/news/GOOGL/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt new file mode 100644 index 0000000000000000000000000000000000000000..4c48bc046be011ad62cdf6382ec7199211d9ef99 --- /dev/null +++ b/news/GOOGL/2023.02.03/Apple & Alphabet sales and profits decline, MarketS...txt @@ -0,0 +1,8 @@ + +Sanofi, CaixaBank, Publicis, Apple, Alphabet, Amazon, Broadcom, VMWare, 3M Co, Brookfield Asset Management, Credit Suisse, Nordstrom, Ford, Beyond Meat, Kroger, Walmart, Costco Wholesale,  Starbucks, Coinbase, General Electric, Siemens Gamesa, Baidu and Tesla feature in this press review! + + + + + +  diff --git a/news/GOOGL/2023.02.03/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt b/news/GOOGL/2023.02.03/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt new file mode 100644 index 0000000000000000000000000000000000000000..79bd9a646c940f031a2c5fa717fc501a538d3c50 --- /dev/null +++ b/news/GOOGL/2023.02.03/Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data.txt @@ -0,0 +1,73 @@ +*Asian stock markets: https://tmsnrt.rs/2zpUAr4*China shares fall, Japan's Nikkei up 0.3%*Sentiment hurt by weak earnings from U.S. tech giants*Sterling, euro falter after BOE, ECB signal pause*European yields sharply lower, Treasury flat ahead of +payrollsSYDNEY, Feb 3 (Reuters) - A global stock rally ran into +resistance in Asia on Friday as disappointing earnings from U.S. +tech giants undermined sentiment, while the dollar regained some +of its footing ahead of a key U.S. non-farm payrolls report.European markets are set to extend the caution, with +pan-region Euro Stoxx 50 futures down 0.1%, German DAX +futures falling 0.2%, and FTSE futures mostly +flat.Overnight, markets took a dovish view on rate guidance from +the European Central Bank and the Bank of England, hoping that +an end of the massive global tightening cycle is in sight, +pushing local bonds higher and the currencies lower.MSCI's broadest index of Asia-Pacific shares outside Japan +eased 0.6% on Friday, dragged down by a 1.3% +slump in Chinese blue-chips and a 1.4% tumble in Hong +Kong's Hang Seng index.Investors are waiting to see more tangible signs of an +economic recovery in China, after Beijing dropped nearly all of +its COVID curbs in December, sparking a surge in foreign +inflows.Other regional markets eked out modest gains. Japan's Nikkei +rose 0.3%, Australia's resources heavy shares +rallied 0.6% and South Korea's KOSPI climbed 0.5%.Disappointment over earnings results from Google, +Apple and Amazon tempered sentiment, with the +S&P 500 futures sliding 0.5% and Nasdaq futures +falling 1.5% on Friday.Tech shares took a beating in Thursday's after-hours +trading, with shares of Apple down 3.2%, Amazon down 5% and +Google parent Alphabet down 4.6%.Apple projected another revenue decline in the start of the +year, Amazon warned that its operating profit could fall to zero +in the current quarter, and Google parent Alphabet missed +expectations in its fourth-quarter profit and revenue.That took the shine off a strong regular trading session on +Thursday, when the S&P climbed 1.5% and the Nasdaq +surged 3.3%. The uptick built on strong gains from the +previous day after Federal Reserve Chair Jerome Powell said +disinflationary pressures are underway in the economy, raising +hopes that a pause to its monetary tightening streak is near.Investors are also watching the fallout from this week's +plunge in shares of India's Adani group, which continued to +nosedive on Friday with market losses amounting to $115 billion +in the wake of a U.S. short-seller's report.On Thursday, the European Central bank (ECB) and Bank of +England (BoE) hiked rates by 50 basis points each, with the BoE +saying the tide was turning against inflation and the ECB +indicating at least one more hike was on the horizon before +re-evaluating its rate hike path.Markets reacted by pushing European yields sharply lower, +with the 10-year German bunds falling 22.6 basis +points to 2.065%, the biggest drop since 2011, and Italian bonds +tumbling 40 bps to 3.887%, the most since 2020."The wash-up is that the BoE meeting was dovish, and the ECB +is now firmly open-minded and data-dependent, and the Fed chose +not to fight the market and the market feels validated by that," +said Chris Weston, head of research at Pepperstone.Alan Ruskin, macro strategist at Deutsche Bank, said that +given the current market price action ahead of the U.S. payrolls +data, a softer report would be regarded as endorsing all the +favourite trades of the year."Not least it would provide the most important evidence to +date to suggest that the market's rates pricing is more +appropriate than the Fed's own more hawkish signalling," said +Ruskin.Analysts expect 185,000 jobs were added last month, the +lowest since January 2021, unemployment edged up to 3.6%, and +hourly wage inflation to stay flat at 0.3% on a monthly basis, +suggesting the strong labour market might have started to ease +up.Futures markets still favour another 25-basis-point hike +from the Fed at its March policy meeting, while implying that +might be the end of its current tightening cycle. They have also +priced in one rate cut by the end of this year, a scenario +Powell dismissed.In the currency markets, the euro extended +losses to $1.0889, pulling further away from the ten-month top +of $1.1033 touched on Thursday.Sterling fell to $1.2213 on Friday, the lowest +in more than two weeks, after tumbling 1.2% the previous +session.That helped the U.S. dollar to recoup most of its +post-Fed losses, with the dollar index now standing at +101.85, away from its nine-month low of 100.80.Treasury yields held largely steady. The yield on +benchmark 10-year Treasury notes eased 2 basis +points to 3.3726%, while the two-year yield, which +rises with traders' expectations of higher Fed fund rates, was +mostly flat at 4.0918%.In the oil market, Brent crude futures reversed +earlier gains and slid 0.2% to $82.01 per barrel, while U.S. +West Texas Intermediate (WTI) crude was also down 0.2% at +$75.70.Gold was 0.2% higher. Spot gold was traded at +$1915.66 per ounce.(Editing by Shri Navaratnam and Kim Coghill) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Big Tech earnings face more heat as cloud cover fades.txt b/news/GOOGL/2023.02.03/Big Tech earnings face more heat as cloud cover fades.txt new file mode 100644 index 0000000000000000000000000000000000000000..5a0a2b41b6892e16aefcf64c8a8d5a8026a13e12 --- /dev/null +++ b/news/GOOGL/2023.02.03/Big Tech earnings face more heat as cloud cover fades.txt @@ -0,0 +1,46 @@ +Feb 3 (Reuters) - Big Tech results reinforced concerns a +boom in cloud services is easing, limiting a lucrative source of +profit when a slowing economy has hit the companies' other +businesses and prompting a bet on artificial intelligence as the +next growth driver.Earnings from Amazon.com Inc and Microsoft Corp +- which together dominate the cloud market - showed +growth in the business was at its lowest since they started +breaking out the metric in 2015 and was on track to slow +further.Alphabet Inc, which has the smallest cloud +business among the three, said Google Cloud grew 32%, the +slowest rise since the company began reporting the measure in +2019.The poor results reflect a shift to post-pandemic frugality +by corporate customers whose budgets have been squeezed in the +past year by high inflation and rising interest rates."Once thought as the most defensive revenue stream in tech, +we are seeing investors questioning the cyclicality for the +(cloud) business," analysts at Bernstein said.Cloud services had long been a reliable source of earnings +for Microsoft and Amazon.The Windows maker posted growth of around 50% in its Azure +cloud-computing business for each quarter of calendar 2020, when +the pandemic forced people to work and study at home. Meanwhile, +market leader Amazon Web Services (AWS) reported sales jump of +about 30% during the same period.Times, though, have changed.Growth at AWS slowed to a record low of 20% in the last +three months of 2022 to $21.4 billion, slightly missing +analysts' estimates of $22.03 billion, according to Refinitiv +data.Microsoft's revenue in its so-called intelligent cloud +business that includes Azure rose 18% to beat expectations for +October to December. But its current-quarter forecast of $21.7 +billion to $22 billion was below estimates of $22.14 billion."The deceleration in AWS was even worse than expected and +means Amazon can't rely on that business units' operating +profits as much in coming quarters," said Andrew Lipsman, +principal analyst at Insider Intelligence.Amazon finance chief Brian Olsavsky said on Thursday that +the company expects slower cloud growth rates for the next few +quarters. That echoed Microsoft, which said last week that +growth in its Azure cloud-computing business would slow by 4-5 +basis points in the March quarter."You've just come off two years of rapid movement of +workloads to the cloud, there's probably a lot of inefficiency +in cloud spending and now there is a shifting focus to greater +efficiency," said James Cordwell, analyst at Atlantic Equities.AI SILVER LININGA potential boom in AI after the viral success of OpenAI's +ChatGPT could boost demand for cloud services again though, +analysts said. AI applications require massive computing power, +a boon for companies whose services help run the technology.As an investor and partner of OpenAI, Microsoft looks well +poised, analysts said, but any gains may take time to translate +into profits."Those (AI) advancements and demand for related cloud +services will take time to materialize. They're not likely to +offset current headwinds in the enterprise market over the next +few quarters," Lipsman said.(Reporting by Aditya Soni, Yuvraj Malik, Akash Sriram and +Tiyashi Datta in Bengaluru; Editing by Sriraj Kalluvila) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Dark skies ahead for Big Tech's cloud growth.txt b/news/GOOGL/2023.02.03/Dark skies ahead for Big Tech's cloud growth.txt new file mode 100644 index 0000000000000000000000000000000000000000..2fbe068bdc2dd83bbb811644ee7bb90f5362b3ee --- /dev/null +++ b/news/GOOGL/2023.02.03/Dark skies ahead for Big Tech's cloud growth.txt @@ -0,0 +1 @@ +Apple, Google parent Alphabet and Amazon all posted results for the end-of-year quarter that left a sour taste in investors' mouths. The reports renewed questions about global economic demand, the effect of higher interest rates and whether the market's January rally got ahead of itself.And they also reinforced concerns about what is normally a lucrative source of profit: cloud services.Amazon and Microsoft - which together dominate the cloud market - showed growth in the business was at its lowest since they started breaking out the metric in 2015, and was on track to slow even further.Microsoft posted growth of around 50% in its Azure cloud-computing business for each quarter of calendar 2020, when many were forced to work and study at home. Meanwhile, market leader Amazon Web Services, or AWS, reported a sales jump of about 30% during the same period.But, times have changed.Growth at AWS slowed to a record low of 20% in the last three months of 2022.And Microsoft's current-quarter revenue forecast for its so-called intelligent cloud business, which includes Azure, was below analysts' estimates.That's troublesome news for both companies - especially as a slowing economy has hit other parts of their businesses.There is, however, a potential silver lining: a boom in artificial intelligence after the viral success of ChatGPT, made by OpenAI. Analysts told Reuters that AI applications like ChatGPT could boost demand for cloud services again as they require massive computing power, a boon for companies whose services help run the technology. \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Dollar perks up as traders await U.S. jobs numbers.txt b/news/GOOGL/2023.02.03/Dollar perks up as traders await U.S. jobs numbers.txt new file mode 100644 index 0000000000000000000000000000000000000000..575b313226e6e59c9ba9d85314939a812af2fed5 --- /dev/null +++ b/news/GOOGL/2023.02.03/Dollar perks up as traders await U.S. jobs numbers.txt @@ -0,0 +1,36 @@ +LONDON, Feb 3 (Reuters) - The dollar rose slightly on +Friday, sustaining some momentum after jumping in the previous +session following a raft of central bank decisions in Europe.Trading was relatively subdued as markets waited for the +latest U.S. employment data later in the day which may shift +U.S. Federal Reserve policy.The dollar picked up against the euro, with the latter +down 0.1% to $1.09 in early European trading. The euro +remained well above the 20-year low of $0.953 hit in September, +however.The Federal Open Market Committee on Wednesday raised +interest rates by 25 basis points to a range of 4.5% to 4.75%, a +softer approach than the previous increase of 50 bps.The slowdown in the pace and comments from the central bank +helped send the dollar tumbling as traders hoped rate hikes +might soon end altogether.It then rallied sharply on Thursday when the European +Central Bank raised rates by 50 bps to 2.5%, but suggested that +it could be finished after another increase in March, causing +the euro to tumble."Essentially we have retraced everything before the +(Fed)meeting," said Alvin Tan, head of Asia FX strategy at RBC +Capital Markets.He said relatively weak earnings reports by tech giants +Alphabet, Apple and Amazon were +causing "a bit of a risk-off mood" in markets that was likely +boosting the dollar on Friday.The dollar index, which tracks the currency against +major peers, was up 0.1% to 101.89.Japan's yen was slightly higher against the +dollar, however, at 128.66 per dollar.The big event for markets on Friday is the release of U.S. +employment - or nonfarm payroll - numbers at 8.30 a.m. ET .Analysts polled by Reuters expect the U.S. economy to have +added 185,000 jobs in January, a strong showing but down from +223,000 in December. Wages data is also due.The pound was down 0.18% on Friday to $1.22, after +tumbling 1.2% on Thursday when the Bank of England raised +interest rates but stressed that inflation was showing signs of +relenting.The Australian dollar was 0.35% lower at $0.705. +Meanwhile, the U.S. dollar was up 0.35% against its Canadian +counterpart at C$1.336.Tan said he thinks the U.S. dollar should remain under +pressure in the coming weeks, given that the Fed is the central +bank closest to pausing interest rate hikes."I think that the path of least resistance in the next +quarter... is still for dollar weakness, unless we get a big +risk-off fright," he said.(Reporting by Harry Robertson; Additional reporting by Rae Wee; +Editing by Lincoln Feast, Simon Cameron-Moore and Emelia +Sithole-Matarise) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/European shares hit by weak earnings from U.S. tech giants.txt b/news/GOOGL/2023.02.03/European shares hit by weak earnings from U.S. tech giants.txt new file mode 100644 index 0000000000000000000000000000000000000000..8ff6648b4cd247171040c435ed58ce76c100eacf --- /dev/null +++ b/news/GOOGL/2023.02.03/European shares hit by weak earnings from U.S. tech giants.txt @@ -0,0 +1 @@ +The pan-European STOXX 600 was down 0.5% as of 0812 GMT.However, the benchmark index was on track for weekly gains, thanks to a strong increase on Thursday as the European Central Bank's (ECB) hawkish message failed to derail investor hopes of the global rate hiking cycle nearing an end.The technology sector index fell 0.6%, led by a near 2% drop in Apple supplier Infineon, while real estate stocks were down 1.5%.Frankfurt-listed shares of U.S. tech giants Amazon.com, Apple Inc and Alphabet Inc slid between 5% and 6% on disappointing earnings.Among others, French drugmaker Sanofi fell 4.7% after forecasting moderate 2023 earnings growth as strong demand for its bestselling drug, Dupixent, would be partly offset by generic competition for its multiple sclerosis pill, Aubagio.Dutch navigation and digital mapping company TomTom jumped 9.4% after raising its 2023 guidance following better-than-expected fourth-quarter revenue. (Reporting by Ankika Biswas in Bengaluru; Editing by Savio D'Souza) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/FTSE called down as tech earnings disappoint.txt b/news/GOOGL/2023.02.03/FTSE called down as tech earnings disappoint.txt new file mode 100644 index 0000000000000000000000000000000000000000..1abd8bd414fb7c832135c3dffc030fa1cd853287 --- /dev/null +++ b/news/GOOGL/2023.02.03/FTSE called down as tech earnings disappoint.txt @@ -0,0 +1 @@ +(Alliance News) - Stocks in London are set to open lower on Friday, following a week of crucial interest rate decisions which largely sprung no surprises. IG says futures indicate the FTSE 100 index of large-caps to open down 3.96 points, 0.1%, at 7,816.2 on Friday. The FTSE 100 index closed up 59.05 points, or 0.8% at 7,820.16 on Thursday. The Bank of England on Thursday, lifted interest rates by another 50 points. The rate lift takes the benchmark bank rate to 4.00% from 3.50%. It was an outcome expected by the market, according to consensus cited by FXStreet.The BoE said seven of the policy setting Monetary Policy Committee backed the move. Swati Dhingra and Silvana Tenryro opposed the hike, preferring bank rate to be maintained at 3.50%. The European Central Bank, meanwhile, also raised interest rates in the eurozone by 50 basis points, in line with market expectations, however it also pencilled in another increase in March.The US Federal Reserve lifted interest rates by 25 basis points on Wednesday, as widely expected, and signalled that it was not done raising rates.Sterling was quoted at USD1.2220 early Friday, lower than USD1.2276 at the London equities close on Thursday.The euro traded at USD1.0896 early Friday, lower than USD1.0927 late Thursday. Prior to the ECB announcement, however, the euro was trading at USD1.0985 and brushed the USD1.10 mark earlier on Thursday.Against the yen, the dollar was quoted at JPY128.63, higher versus JPY128.40."Today's European open looks set to see a modestly softer open after some weakness in the wake of last night's earnings numbers from Amazon, Alphabet and Apple," CMC Markets analyst Michael Hewson commented.Amazon said it swung to annual loss as it booked a significant hit related to its investment in electric vehicle firm Rivian. Apple, meanwhile, posted a drop in quarterly sales and income due to a challenging operating environment.Google owner Alphabet posted a small climb in fourth quarter revenue but noted a sharp year-on-year decline in net income.Amazon lost 5.1% after hours in New York, Alphabet gave back 4.6% and Apple shed 3.2%. In the US on Thursday, Wall Street ended mostly higher on Thursday, as investors digested the new interest rates. The Dow Jones Industrial Average ended down 0.1%, but the S&P 500 was up 1.5% and the Nasdaq Composite up 3.3%.In Tokyo on Friday, the Nikkei 225 index was up 0.4%. In China, the Shanghai Composite was down 0.7% and the Hang Seng index in Hong Kong was down 1.5%. The S&P/ASX 200 in Sydney closed up 0.6%.China's service sector return to growth in January, according to new data.The Caixin services purchasing managers' index rose to 52.9 in January from 48.0 in December. Returning above the 50.0 mark that separates growth from contraction, it shows activity in the sector has recovered from its recent downturn. "Both services supply and demand moved into expansion. Although Covid infections remained high, an easing of related containment measures stimulated supply and demand in the sector. The gauges for business activity and total new business both came in above 50, marking an end to a four-month contraction," said Caixin analyst Wang Zhe.Gold was quoted at USD1,915.71 an ounce early Friday, lower than USD1,920.03 on Thursday. Brent oil was trading at USD82.08 a barrel early Friday, higher than USD81.95 late Thursday.In the economic calendar on Friday, there are a slew of services PMI readings from the UK, US, EU, and Germany.By Sophie Rose, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Futures fall as megacaps slide on downbeat earnings.txt b/news/GOOGL/2023.02.03/Futures fall as megacaps slide on downbeat earnings.txt new file mode 100644 index 0000000000000000000000000000000000000000..3033411cdffb68a5c6aa4d1ed0b10ce50bcbfe35 --- /dev/null +++ b/news/GOOGL/2023.02.03/Futures fall as megacaps slide on downbeat earnings.txt @@ -0,0 +1 @@ +Shares of Wall Street heavyweights Apple, Amazon Inc and Alphabet Inc declined between 3.5% and 6% in premarket trading. Apple forecast another revenue decline at the start of the year, Amazon warned that its operating profit could fall to zero in the current quarter, and Google parent Alphabet missed Wall Street estimates for fourth-quarter results.The results looked set to snap the rally in U.S. equities in the previous session after Fed Chair Jerome Powell in his remarks after the Wednesday policy meeting referred repeatedly to the "disinflationary" process being underway.Both the Nasdaq and the S&P 500 posted strong gains on Thursday and touched near five-month highs, while the Dow slipped, dragged down by declines in some big healthcare stocks.Investors will closely monitor Labor Department's numbers for January nonfarm payrolls, due at 8:30 a.m. ET. The economy is expected to have added 185,000 jobs, fewer than the 223,000 additions in December. The unemployment rate is expected to tick higher to 3.6% in January, from 3.5% in December. The unemployment rate is expected to tick higher to 3.6% in Janaury, from 3.5% in December.U.S. stocks made a strong start in 2023 after a dismal 2022, with battered technology and related stocks leading the rebound on hopes that the Fed will temper its aggressive rate hikes, in turn alleviating some pressure on equity valuations. At 4:40 a.m. ET, Dow e-minis were down 81 points, or 0.24%, S&P 500 e-minis were down 29.25 points, or 0.7%, and Nasdaq 100 e-minis were down 181.5 points, or 1.41%. (Reporting by Shubham Batra; Editing by Vinay Dwivedi) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Runaway Tech arrested.txt b/news/GOOGL/2023.02.03/Runaway Tech arrested.txt new file mode 100644 index 0000000000000000000000000000000000000000..976b2d99d246ccc93447282a31761579bf1e5e95 --- /dev/null +++ b/news/GOOGL/2023.02.03/Runaway Tech arrested.txt @@ -0,0 +1 @@ +The coast may be clearing on interest rates but a spluttering economy still has the power to check runaway stock markets.What investors have to work out is how much the economic drag is simply the condition for relief on rates. Friday's release of January's U.S. employment report will provide some clues - but Big Tech gave its own readout on Thursday.Underwhelming quarterly results from mega cap technology giants Apple, Alphabet and Amazon provided the reality check after the bell late on Thursday - enough to send their share prices down 3%-5% in out-of-hours trading and knock futures on this week's soaring Nasdaq and S&P500 indices back about 1% too.The updates have been enough to curb what had been the best three days for Wall St indices in about four months - after the best January for the Nasdaq in 22 years - as investors bet the U.S. Federal Reserve's credit squeeze is near done.Apple earnings fell short of expectations and it forecast revenue would fall for a second quarter in a row. But even though iPhone sales fell for the first time since 2020, it said sales were likely to improve as production had returned to normal in China after COVID-related shutdowns.Data on Friday backed that assertion as China's services sector activity in January expanded for the first time in five months. Spending and travel got a boost from the lifting of stringent COVID-19 curbs and business confidence hit near 12-year highs.But Alphabet also posted fourth-quarter profit and sales short of expectations as Google's advertising clients pulled back spending from a period of pandemic-led excess. And Amazon said operating profit could fall to zero in the current quarter as savings from layoffs do not make up for the financial impact of consumers and cloud customers clamping down on spending.To what extent layoffs in the tech sector are fanning out across the economy will be monitored in the payrolls report later and the Fed will be watching wage growth like a hawk.Payrolls are expected to have risen by another brisk 185,000 last month, although the unemployment rate likely ticked up to 3.6% from a more than 50-year low of 3.5% in December.Annual wage growth is expected to have slowed to 4.3% from 4.6% in December.The extent to which the market thinks the Fed has nearly finished its rate rise campaign - and seeding some of the FOMO, or fear of missing out, behaviour on Wall St - can be seen in the drop in two- and 10-year Treasury yields to their lowest since September. Ten-year yields have fallen a full percentage point since the peaks of October. Elsewhere, shares of India's Adani Group companies fell sharply again on Friday as ripples from a market rout disrupted parliament for a second day, driving fears of investment contagion across the country following last week's critical research report by a U.S. short-seller. Seven listed Adani enterprises lost more than half their market capitalisation, which shrivelled to less than $100 billion, after the Hindenburg Research report raised questions about the conglomerate's debt levels and use of tax havens. The group shelved its $2.5-billion share sale on Wednesday, S&P Dow Jones Indices said it would drop the Adani Enterprises flagship from widely-used sustainability indices on Feb. 7, blunting their appeal for environment-conscious investors.Key developments that may provide direction to U.S. markets later on Friday:* U.S. Jan employment report, Jan ISM service sector survey* U.S. corp earnings: Cigna, Aon, Regeneron Pharmaceuticals, Zimmer Biomet, LyondellBasell, Cboe Global Markets, Church & Dwight.GRAPHICSApple's Q1 revenue falls on lower iPhone sales https://www.reuters.com/graphics/APPLE-RESULTS/egpbyaadqvq/chart.pngAlphabet records slowest revenue growth since 2004 https://www.reuters.com/graphics/ALPHABEST-RESULTS/xmvjkrraypr/chart.pngAmazon earnings and net sales https://www.reuters.com/graphics/USA-AMAZON-EARNINGS/xegvbxrylvq/usa-results-amazon.jpgIs the selloff in tech stocks over? https://www.reuters.com/graphics/TECH-STOCKS/TECH-STOCKS/egpbyaaeqvq/graphic.jpg (By Mike Dolan, editing by Barbara Lewis mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Stocks stumble, U.S. bond yields jump on strong jobs report.txt b/news/GOOGL/2023.02.03/Stocks stumble, U.S. bond yields jump on strong jobs report.txt new file mode 100644 index 0000000000000000000000000000000000000000..f9bdcd559dc3e7658ac30c1e53ee9805a6a6d3fe --- /dev/null +++ b/news/GOOGL/2023.02.03/Stocks stumble, U.S. bond yields jump on strong jobs report.txt @@ -0,0 +1,57 @@ +*Jan U.S. payrolls 517k vs 185k estimate*Dollar bounces off 9-month lows*Amazon, Alphabet lower after earningsNEW YORK, Feb 3 (Reuters) - A gauge of global stocks +dropped more than 1%, while U.S. Treasury yields and the dollar +shot higher on Friday after a shockingly strong U.S. jobs report +renewed concerns the Federal Reserve may stay aggressive in its +interest rate hike path as it tries to tame inflation.The report from the Labor Department showed nonfarm payrolls +surged by 517,000 jobs in January, well above the 185,000 +estimate of economists polled by Reuters, with data for December +also being revised higher. Average hourly earnings increased +0.3%, as expected, down from the 0.4% in the prior month, while +the unemployment rate of 3.4% was the lowest since 1969.Equities have rallied to start the year on expectations the +Fed may be forced to pause or even pivot from its rate hikes in +the back half of the year, growing more confident after comments +from Fed Chair Powell on Wednesday that acknowledged the +"disinflationary" process may have begun. Additional fuel was +added after policy announcements by the European Central Bank +(ECB) and Bank of England (BoE) on Thursday."This make the Fed's job more difficult. Their dependence on +the data yet to come has increased, no doubt," said Russell +Price, chief economist at Ameriprise Financial in Troy, +Michigan."They’re concentrating on the labor market right now, they +want to see labor cost inflation under control, and this report +does not suggest that labor cost inflation in particular is +going to improve significantly anytime soon."Interest rate futures now indicate the Fed is likely to +deliver at least two more rate hikes, taking the benchmark rate +to above 5%.U.S. stocks opened lower after the report, with additional +downward pressure being supplied by a 2.83% decline in Google +parent Alphabet and a 7.70% drop in Amazon after their +quarterly results.Apple, however, helped prevent further declines, as the +stock erased losses in premarket trading to trade 2.74% higher +following its quarterly earnings.Earnings are now expected to decline 2.7% for the quarter +from the year-ago period, according to Refinitiv data, down from +the 1.6% fall expected at the start of the year.Other data showed the U.S. services industry rebounded +strongly in January, according to the Institute for Supply +Management (ISM).The Dow Jones Industrial Average fell 167.55 points, +or 0.49%, to 33,886.39; the S&P 500 lost 44.72 points, or +1.07%, to 4,135.04; and the Nasdaq Composite dropped +176.41 points, or 1.45%, to 12,024.41.Even with Friday's declines, both the S&P 500 and Nasdaq +were on track for weekly gains. The Nasdaq was poised for a +fifth straight week of gains, it's longest since +October-November 2021.European stocks closed modestly higher, erasing earlier +declines on optimism over the region's economy. The pan-European +STOXX 600 index rose 0.34% but MSCI's gauge of stocks +across the globe shed 1.08%. The STOXX index +closed with a 1.23% gain on the week for its highest closing +level since April 21. MSCI's index was on track for a second +straight weekly advance even with Friday's tumble.U.S. Treasury yields climbed after the payrolls report, with +those on the benchmark 10-year note up 13.2 basis +points to 3.530%, from 3.398% late on Thursday, poised for their +biggest one-day jump since Oct. 19.The greenback strengthened in the wake of the data, climbing +off a nine-month low hit on Thursday to 109.92, its highest +since January 12, with the dollar index rose 1.071% and +the euro down 0.93% to $1.0808.The Japanese yen weakened 1.88% to 131.11 per dollar, +while Sterling was last trading at $1.2058, down 1.35% on +the day.Crude prices turned lower in part due to strength in the +dollar and concerns about higher interest rates, with Brent and +WTI poised for weekly declines of about 7%.U.S. crude fell 3.15% to $73.49 per barrel and Brent +was at $79.92, down 2.74% on the day.(Reporting by Chuck Mikolajczak; additional reporting by +Herbert Lash; Editing by Kirsten Donovan and Jonathan Oatis) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Stocks tumble, U.S. bond yields rise on strong jobs report.txt b/news/GOOGL/2023.02.03/Stocks tumble, U.S. bond yields rise on strong jobs report.txt new file mode 100644 index 0000000000000000000000000000000000000000..6b5da91e8c5ed6fe91634d3d9775c78aef314dad --- /dev/null +++ b/news/GOOGL/2023.02.03/Stocks tumble, U.S. bond yields rise on strong jobs report.txt @@ -0,0 +1,56 @@ +*Jan U.S. payrolls 517k vs 185k estimate*Dollar bounces off 9-month lows*Amazon, Alphabet lower after earningsNEW YORK, Feb 3 (Reuters) - A gauge of global stocks +dropped more than 1%, while U.S. Treasury yields and the dollar +rose on Friday after a shockingly strong U.S. jobs report +renewed concerns the Federal Reserve may remain aggressive in +its path of interest rate hikes as it tries to tame inflation.The report from the Labor Department showed nonfarm payrolls +surged by 517,000 jobs in January, well above the 185,000 +estimate of economists polled by Reuters, with data for December +also being revised higher. Average hourly earnings increased +0.3%, as expected, down from the 0.4% in the prior month, while +the unemployment rate of 3.4% was the lowest since 1969.Equities have rallied to start the year on expectations the +Fed may be forced to pause or even pivot from its rate hikes in +the back half of the year, growing more confident after comments +from Fed Chair Powell on Wednesday that acknowledged the +"disinflationary" process may have begun. Additional fuel was +added after policy announcements by the European Central Bank +(ECB) and Bank of England (BoE) on Thursday."While it is very helpful to see the jobs increasing, it is +really a horse race between that ongoing income and how quickly +inflation comes down," said Lisa Erickson, head of public +markets group at U.S. Bank Wealth Management in Minneapolis, +Minnesota."The Fed really is in a tough place trying to navigate +between keeping those price pressures down and not causing too +much economic pain."Interest rate futures now indicate the Fed is likely to +deliver at least two more rate hikes, taking the benchmark rate +to above 5%.U.S. stocks closed lower, with additional downward pressure +being supplied by a 2.75% decline in Google parent Alphabet +and an 8.43% drop in Amazon after their +quarterly results.Apple, however, helped prevent further declines, as +the stock erased losses in premarket trading to close 2.44% +higher following its quarterly earnings.Earnings are now expected to decline 2.7% for the quarter +from the year-ago period, according to Refinitiv data, down from +the 1.6% fall expected at the start of the year.Other data showed the U.S. services industry rebounded +strongly in January, according to the Institute for Supply +Management (ISM).The Dow Jones Industrial Average fell 127.93 points, +or 0.38%, to 33,926.01; the S&P 500 lost 43.28 points, or +1.04%, to 4,136.48; and the Nasdaq Composite dropped +193.86 points, or 1.59%, to 12,006.96.Even with Friday's declines, both the S&P 500 and Nasdaq +notched weekly gains, with the Nasdaq securing a fifth straight +week of gains, its longest since October-November 2021.European stocks closed modestly higher, erasing earlier +declines on optimism over the region's economy. The pan-European +STOXX 600 index rose 0.34%, but MSCI's gauge of stocks +across the globe shed 1.08%. The STOXX index +closed with a 1.23% gain on the week, its highest closing level +since April 21. MSCI's index was on track for a second straight +weekly advance even with Friday's tumble.U.S. Treasury yields climbed after the payrolls report, with +those on the benchmark 10-year note up 13 basis +points to 3.528%, from 3.398% late on Thursday, poised for their +biggest one-day jump since Oct. 19.The greenback strengthened in the wake of the data, climbing +off a nine-month on Thursday to hit 103.01, its highest since +Jan. 12, as the dollar index rose 1.149% and the euro +was down 1.02% to $1.0799.The Japanese yen weakened 1.90% to 131.18 per dollar, +while Sterling was last trading at $1.2053, down 1.39% on +the day.Crude prices turned lower in part due to strength in the +dollar and concerns about higher interest rates, with Brent and +WTI both dropping nearly 8% on the week.U.S. crude settled down 3.28% at $73.39 per barrel +and Brent settled at $79.94, down 2.71% on the day.(Reporting by Chuck Mikolajczak; additional reporting by +Herbert Lash; Editing by Kirsten Donovan and Jonathan Oatis) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/TSX futures flat as commodity prices slip, U.S. jobs awaited.txt b/news/GOOGL/2023.02.03/TSX futures flat as commodity prices slip, U.S. jobs awaited.txt new file mode 100644 index 0000000000000000000000000000000000000000..3e8f5d4ad29666167f91becadb28650bb623204a --- /dev/null +++ b/news/GOOGL/2023.02.03/TSX futures flat as commodity prices slip, U.S. jobs awaited.txt @@ -0,0 +1 @@ +Futures on the S&P/TSX index were flat at 6:44 a.m. ET (1144 GMT) after the benchmark closed lower on Thursday, weighed down by losses in commodity-linked stocks.Investors would be looking for U.S. jobs data due at 8:30 a.m. ET, a key metric in gauging where the Fed stands on future rate increases, having hiked its lending rate by an expected 25 basis points on Wednesday.U.S. futures pointed to a lower opening on Wall Street, with disappointing quarterly results from megacap growth companies including Apple Inc, Amazon.com Inc and Alphabet Inc dampening sentiment. [.N]Oil prices eased, with major oil benchmarks headed for their second consecutive week of losses, as the market awaited further signs of fuel demand recovery in China to offset looming slumps in other major economies. [O/R]Gold steadied in a tight range as cautious investors took stock of a host of central bank statements and positioned themselves for the key U.S. nonfarm payrolls report. [GOL/]Materials and energy companies have a combined weightage of about 31% on the main index.In earnings, methanol producer Methanex reported better-than-expected quarterly results overnight.Software company OpenText Corp also reported its quarterly numbers, beating expectations on both revenue and earnings.On the research front, CIBC cut software company Lightspeed Commerce's rating to "neutral" from "outperformer". (Reporting by Shashwat Chauhan in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Tech giants call time on stocks rally, U.S. payrolls loom.txt b/news/GOOGL/2023.02.03/Tech giants call time on stocks rally, U.S. payrolls loom.txt new file mode 100644 index 0000000000000000000000000000000000000000..5b743d43457793e389c23a97c924801105d9da78 --- /dev/null +++ b/news/GOOGL/2023.02.03/Tech giants call time on stocks rally, U.S. payrolls loom.txt @@ -0,0 +1,56 @@ +*China shares fall, Japan's Nikkei up 0.3%*Sentiment hurt by weak earnings from U.S. tech giants*Sterling, euro falter after BOE, ECB decisions*U.S. payrolls data coming upLONDON/SYDNEY, Feb 3 (Reuters) - A global stock rally, +powered by hopes of central banks ending aggressive rate rises, +ran into roadblocks on Friday following weak earnings from U.S. +tech giants and as key U.S. jobs data loomed.The MSCI World Stock Index slipped 0.2%, but +was still near its highest since last August following a sharp +rebound in recent weeks on hopes that central bank rate hikes +are nearing an end.Wall Street stock futures fell sharply, with contracts +on the tech-heavy Nasdaq 100 2% lower, on disappointing +earnings from Google, Apple and Amazon +. S&P 500 futures slid 0.9%.Investors are also watching the fallout from this week's +plunge in shares of India's Adani group, which continued to +nosedive on Friday with market losses amounting to $115 billion +in the wake of a U.S. short-seller's report.In Europe, the Stoxx 600 share benchmark fell 0.6%. +Germany's benchmark 10-year bond yield inched 2 +basis points (bps) higher to 2.097%, having on Thursday dropped +by the most since 2011 as the price of the debt rallied.This week, the U.S. Federal Reserve, the European +Central bank (ECB) and Bank of England (BoE) all increased +benchmark borrowing costs and warned of more hikes to come.Markets initially shrugged off the hawkishness, however, +and clungto a statementby Fed chair Jay Powell on Wednesday that the United States +was in the early stages of "disinflation."The mood turned much more cautious on Thursday, however, +as U.S. tech sharestook a beating in U.S. after-hours trading.Apple projected another revenue decline in the start of the +year, Amazon warned that its operating profit could fall to zero +in the current quarter, and Google parent Alphabet missed +expectations in its fourth-quarter profit and revenue.The keenly watched U.S. non-farm payrolls report, due +out later on Friday, could now be crucial to supporting the +recent rally."If we are seeing an easing of net job creation that +would allow the Fed to just do one more rate hike of 25 basis +points and that would be the end of the cycle," said Willem +Sels, global chief investment officer at HSBC's private bank."We will see headwinds from further earnings downgrades, +but we have incorporated quite a lot [of this] already so I +think markets can hold here if we are indeed right on the Fed."U.S. job growth likely remained strong in January, with +economists polled by Reuters expecting185,000 new jobs were created last month.Hourly wages are predicted to have risen by 0.3% from +the month before, although the unemployment rate is also +forecast to have ticked up to 3.6% from 3.5%, which may give the +Fed comfort that wage inflation could decline.Alan Ruskin, macro strategist at Deutsche Bank, said that +given the current market price action ahead of the U.S. payrolls +data, a softer report would be regarded as endorsing all the +favourite trades of the year."Not least it would provide the most important evidence to +date to suggest that the market's rates pricing is more +appropriate than the Fed's own more hawkish signalling," Ruskin +said.Futures markets favour another 25 bp hike from the Fed in +March and imply that might be the end of its current tightening +cycle. They have also priced in two rate cuts by the end of this +year, a scenario Powell dismissed.In currency markets, the euro extended losses +to $1.0888, pulling further away from Thursday's 10-month top of +$1.1033.Sterling fell to $1.2185 on Friday, the lowest +in more than two weeks, after tumbling 1.2% the previous +session.That helped the U.S. dollar to recoup most of its +post-Fed losses, with the dollar index now standing at +101.94, away from its nine-month low of 100.80.Treasury yields held largely steady. Ten-year Treasury +yield were flat at 3.96%, while the two-year yield +, which rises with traders' expectations of higher Fed +fund rates, rose 2 bps to 4.106%.In the oil market, Brent crude futures reversed +earlier gains and slid 0.6% to $81.58 per barrel, while U.S. +West Texas Intermediate (WTI) crude was also down 0.6% at +$75.28.(Editing by Dhara Ranasinghe and Toby Chopra) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Tech trillion club's wobble in four charts.txt b/news/GOOGL/2023.02.03/Tech trillion club's wobble in four charts.txt new file mode 100644 index 0000000000000000000000000000000000000000..cfb9c1b54496f1d5c4c3b9dea775133f50e49813 --- /dev/null +++ b/news/GOOGL/2023.02.03/Tech trillion club's wobble in four charts.txt @@ -0,0 +1 @@ +The tech industry has already laid off thousands of employees in an effort to cut costs as they brace for an impending slowdown.The following graphics highlight the companies' shaky performance in key areas: WEAK IPHONE SALESThe world's largest publicly traded company's quarterly profit missed Wall Street expectations for the first time since 2016 as it struggled with disruptions to iPhone production in China."Apple's results are consistent with the broader technology-sector challenges, with a difficult macroeconomic environment slowing sales for digital advertising, e-commerce, and (as reflected by Apple's performance) consumer electronics," said D.A Davidson analyst Thomas Forte.Apple's iPhone sales fall for the first time since 2020 https://www.reuters.com/graphics/APPLE-RESULTS/lbpggbbkbpq/chart.png DIGITAL ADVERTISING SLUMPThe parent company of digital advertising giant Google also missed earnings expectations as businesses dialed back spending on fears of a possible recession."If a dominant ad player like Google can get hit like this, it is now officially a tough ad market," said Rosenblatt Securities analyst Barton Crockett.Google's ad sales growth in the last 2 years https://www.reuters.com/graphics/GOOGLE-ADVERTISING/egpbyaobavq/chart_eikon.jpg SLOW CLOUD GROWTHAmazon's revenue beat for the holiday quarter was largely overshadowed by a warning from the e-commerce giant that its lucrative cloud business was set for slower growth in the next few quarters."This year is likely to be a difficult year for AWS growth. One of the key advantages of AWS - that it is easy to flex spending upwards - is also one of its key disadvantages when the economy slows down," said Atlantic Equities analyst James Cordwell.Amazon's cloud growth in the last two years https://www.reuters.com/graphics/AMAZON-AWS/gdvzqdmbopw/chart.png POST-EARNINGS STOCK REACTIONShares of the three companies - all of which have market valuations of more than a trillion dollars - were down between 2.2% and 4.5%. The stock slump also dragged the wider market lower. Here is how the stocks have reacted after every quarterly earnings report in 2022:Big tech stock reaction after quarterly results over the pastyear https://www.reuters.com/graphics/USA-STOCKS/BIGTECH/lbpggblyrpq/chart.png (Reporting by Akash Sriram, Tiyashi Datta and Eva Mathews in Bengaluru; Editing by Saumyadeb Chakrabarty) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/The morning after the night before.txt b/news/GOOGL/2023.02.03/The morning after the night before.txt new file mode 100644 index 0000000000000000000000000000000000000000..339bfafd1fa2ad1ac255a8520d30fc24538f9cbc --- /dev/null +++ b/news/GOOGL/2023.02.03/The morning after the night before.txt @@ -0,0 +1 @@ +After the central bank triple-header (that's the Fed, ECB and BoE) buoyed risk appetite and emboldened investor hopes of the end of the massive global tightening cycle came the Big Tech triple-header to revive worries over global economic conditions. Dour fourth-quarter results from Apple, Google-parent Alphabet and Amazon are likely to cast a shadow on the markets on Friday before the crucial non-farms payroll data is released later in the day. Analysts expect 185,000 jobs were added last month and the report will likely paint a clearer picture of the labour market in the United States. With the market facing up to the reality of the economic downturn, Asian stocks eased with MSCI's broadest index of Asia-Pacific shares outside Japan 0.7% lower and set to end the week in the red after five consecutive weekly gains. The dollar firmed, while gold steadied. Meanwhile, Adani Group shares continue to bleed with market losses now over $115 billion (for the seven listed Adani firms)in the wake of a scathing report from U.S short-seller Hindenburg that came out on Jan. 24. The meltdown in share prices have stoked fears of wider impact on the Indian equities. A bright spot for the market was a private sector survey that showed China's services activity in January expanded for the first time in five months, sending business confidence to near 12-year highs.Even amidst the dire earnings reports from U.S. bellwethers there was a hint of hope that consumer spending was beginning to rebound in China. Key developments that could influence markets on Friday: Economic events: Euro zone, UK, Germany S&P Global business surveys, U.S. non-farm payrolls data Speakers, ECB's Christine Lagarde and BoE's Huw Pill to talk in separate events (Reporting by Ankur Banerjee; Editing by Jacqueline Wong) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/U.S. antitrust agency preparing lawsuit against Amazon - WSJ.txt b/news/GOOGL/2023.02.03/U.S. antitrust agency preparing lawsuit against Amazon - WSJ.txt new file mode 100644 index 0000000000000000000000000000000000000000..eec4c1f729768df81fdd7627d70dcf8d9deecda1 --- /dev/null +++ b/news/GOOGL/2023.02.03/U.S. antitrust agency preparing lawsuit against Amazon - WSJ.txt @@ -0,0 +1,27 @@ +Feb 3 (Reuters) - The U.S. Federal Trade Commission is +preparing a possible antitrust lawsuit against e-commerce giant +Amazon.com Inc, the Wall Street Journal reported on +Friday, citing people familiar with the matter.It could not be determined exactly which aspects of Amazon's +businesses the FTC would target and the timing of any case was +uncertain, according to the report.Amazon and the FTC declined to comment.The commission began probing Amazon during the Trump +administration. The company has been criticized for allegedly +favoring its own products and disfavoring outside sellers on its +platform.The FTC has been scrutinizing the bundling practices of the +company's Prime subscription service, the WSJ also reported.Amazon in December reached a settlement with the European +Union in three antitrust probes after it addressed the EU's +concerns over use of sellers' data, saving the company from a +fine of up to 10% of its global turnover.Outsiders got a small view into the relationship between the +agency and Amazon last August when the agency rejected an Amazon +bid to quash demands that both Chief Executive Andy Jassy and +Executive Chairman Jeff Bezos testify at investigative hearings. +Amazon had questioned what it called the agency's "burdensome" +requests in its investigation of the sign-up and cancellation +processes for its Prime program.The Justice Department and FTC have probes underway of all +four platforms. The Justice Department has sued Alphabet's +Google twice, once regarding its search business and a second +time on advertising technology. The FTC has sued Meta's +Facebook.The FTC has also lost a court ruling aimed at stopping a +deal that Meta undertook to buy VR company Within. +(Reporting by Eva Mathews in Bengaluru; additional reporting by +Diane Bartz in Washington; Editing by Shailesh Kuber and Josie +Kao) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/UK shares slip as weak tech earnings weigh on mood.txt b/news/GOOGL/2023.02.03/UK shares slip as weak tech earnings weigh on mood.txt new file mode 100644 index 0000000000000000000000000000000000000000..35fb9192e3377e00df3670fff72cf10e71c6d2e0 --- /dev/null +++ b/news/GOOGL/2023.02.03/UK shares slip as weak tech earnings weigh on mood.txt @@ -0,0 +1 @@ +The blue-chip FTSE 100 index slipped 0.1% by 0810 GMT, while the midcap FTSE 250 index slid 0.5% after touching a nine-month high in the previous session.Wall Street futures sank after tech titans Apple Inc, Amazon.com Inc and Alphabet Inc reported downbeat results.Still, both the UK equity indexes were heading for weekly gains after dovish comments from the U.S. Federal Reserve and the Bank of England raised hopes that the central banks could pause the rate-hike spree after a series of increases to bring inflation under control.Discount retailer B&M gained 2.2% and Marks & Spencer rose 3.2% after Deutsche Bank upgraded their stocks to "buy" from "hold". (Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Wall St pares declines after stunning jobs report.txt b/news/GOOGL/2023.02.03/Wall St pares declines after stunning jobs report.txt new file mode 100644 index 0000000000000000000000000000000000000000..e9bc130cfdf8a68042a0d20d7de4dd378ad7e1fe --- /dev/null +++ b/news/GOOGL/2023.02.03/Wall St pares declines after stunning jobs report.txt @@ -0,0 +1,43 @@ +(Corrects paragraph 14 to say Michael Matousek is a head trader +at U.S. Global Investors Inc)*U.S. job growth accelerates in Jan, jobless rate ticks +down*Amazon, Alphabet fall on disappointing results*Ford drops on downbeat outlook*Indexes down: Dow 0.17%, S&P 0.63%, Nasdaq 0.82%Feb 3 (Reuters) -U.S. stock indexes pared declines by afternoon on Friday as +a strong jobs report that initially raised fears of the Federal +Reserve keeping interest rates higher for longer also pointed to +the resilience in the economy in the face of aggressive policy +tightening.The Labor Department's nonfarm payrolls report showed +517,000 job additions in January, almost three times above +expectations, while the unemployment rate hit 3.4%, its lowest +since 1969.Separately, data showed that theU.S. servicesindustry's activity rebounded strongly in January."The data suggests an economy that is running cooler +than half a year ago, but not falling off the cliff," Bill +Adams, chief economist for Comerica Bank said."The outlook is cloudy, but the backward-looking data +shows 2023 began on a stronger footing than seemed the case a +few weeks ago."Money markets expect the U.S. central bank to hike rates two +more times before stopping, after the Fed raised its target rate +by 25 basis points on Wednesday. Rates are seen peaking at 4.95% +by June, compared with 4.91% earlier.Investors also parsed disappointing earnings, with +Amazon.com Inc sliding 5.8% as it warned that its +operating profit could fall to zero in the current quarter.Google parent Alphabet Inc dropped 2.0% as it +missed Wall Street estimates for fourth-quarter results.Markets rallied in the previous session on Fed Chair Jerome +Powell's repeated references to the "disinflationary" process +being underway in his remarks after Wednesday's meeting.Apple Inc forecast another revenue decline at the +start of the year, but the iPhone maker reversed course to trade +2.7% higher.Tesla Inc jumped 3.0% after the U.S. Treasury +Department said that some of its Model Y variants would be +eligible for tax credits.Wall Street's main indexes have had a solid start to the +year as megacap growth stocks, which took a beating last year, +rose on hopes that the Fed's hiking spree will come to an end +this year.The Nasdaq eyed its fifth consecutive weekly +advance, its best streak since October 2021."If the Fed is indeed less hawkish and the economy is doing +well, you would want to own the big names, why sit on the +sidelines?," said Michael Matousek, head trader at U.S. Global +Investors Inc.At 1:01 p.m. ET, the Dow was down 58.67 points, or +0.17%, at 33,995.27 and the S&P 500 was down 26.21 +points, or 0.63%, at 4,153.55.The Nasdaq Composite was down 99.50 points, or +0.82%, at 12,101.32.Ford Motor Co slid 6.6% after missing quarterly +earnings expectations while also warning of a rocky year ahead.Analysts now see fourth-quarter earnings of S&P 500 firms +declining 2.7%, according to Refinitiv.Declining issues outnumbered advancers for a 2.03-to-1 ratio +on the NYSE and for a 1.25-to-1 ratio on the Nasdaq.The S&P index recorded 15 new 52-week highs and no new low, +while the Nasdaq recorded 103 new highs and eight new lows. +(Reporting by Shreyashi Sanyal and Johann M Cherian; Additional +reporting by Shubham Batra; Editing by Sriraj Kalluvila and Maju +Samuel) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Wall St. ends down after stunning jobs growth .txt b/news/GOOGL/2023.02.03/Wall St. ends down after stunning jobs growth .txt new file mode 100644 index 0000000000000000000000000000000000000000..6453a7c9b8f86ea266da56461b7ecb168520eaaf --- /dev/null +++ b/news/GOOGL/2023.02.03/Wall St. ends down after stunning jobs growth .txt @@ -0,0 +1 @@ +The Dow shed roughly four-tenths of a percent, the S&P fell a full percent, and the Nasdaq dropped 1.6%.U.S. job growth soared in January, with nonfarm payrolls surging by 517,000 jobs - well above an estimate of 185,000 - and the unemployment rate fell to a 53-1/2-year low.The data comes after Fed Chair Jerome Powell said earlier in the week that there'd be two more quarter-point rate hikes - sending stocks higher.But Michael Jones, Chairman and CEO of Caravel Concepts, says the market was wrong to interpret Powell's remarks as dovish."Investors, instead of saying, "Hey, we're gonna get a minimum of two more increases,' said, 'Hey, only two more increases and the Fed's gonna take a breather.' That's not exactly what he said. And also, he really emphasized that the main thing the Fed's looking at as they make these tightening decisions is the job market - and how they feel it's unbalanced, that unemployment is too low, that jobless claims are too low and that job openings are too high. And because of all that, today's number is going to really equip the hawks to drive rates higher towards 6%."Investors on Friday also digested another heavy batch of corporate results.Shares of Apple, the largest U.S. company by market value, rose 2.4%. The company forecast that revenue would fall for a second quarter in a row but that iPhone sales were likely to improve as production had returned to normal in China.Shares of Amazon slumped 8.4% after the company said operating profit could fall to zero in the current quarter as savings from layoffs won't make up for the financial impact of consumers and cloud customers clamping down on spending.And shares of Google parent Alphabet dropped 2.7% after it posted fourth-quarter profit and sales short of Wall Street expectations. \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Wall Street ends down after stunning jobs growth raises Fed questions.txt b/news/GOOGL/2023.02.03/Wall Street ends down after stunning jobs growth raises Fed questions.txt new file mode 100644 index 0000000000000000000000000000000000000000..04cb0a7ea0a317c8e23909faaae043d151c26a12 --- /dev/null +++ b/news/GOOGL/2023.02.03/Wall Street ends down after stunning jobs growth raises Fed questions.txt @@ -0,0 +1,50 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Nasdaq posts 5th straight weekly gain*U.S. reports blowout job data; unemployment lowest since +1969*Megapcap earnings reactions: Apple up; Amazon, Alphabet +slump*Ford Motor drops on downbeat outlook*Indexes down: Dow 0.38%, S&P 1.04%, Nasdaq 1.59%(Updates with further market data)Feb 3 (Reuters) - Major U.S. stock indexes ended lower +on Friday after surprisingly strong jobs data sparked concerns +about aggressive Federal Reserve action, while investors +digested a mixed bag of megacap company earnings reports.The S&P 500 still posted a gain for the week, which included +a string of major market events, and stood not far from +five-month highs. The Nasdaq tallied its fifth straight weekly +rise, its longest such streak since late 2021.U.S. job growth accelerated sharply in January, with nonfarm +payrolls surging by 517,000 jobs, well above an estimate of +185,000. The unemployment rate hit a more than 53-1/2-year low +of 3.4%.In another sign of economic strength, U.S. services industry +activity rebounded strongly in January.Investors have been balancing hopeful signs that the economy +could avoid a feared recession against concerns about how long +the Fed will keep interest rates high to rein in inflation. The +S&P 500 gained earlier this week after comments that were more +dovish than expected from Fed Chair Jerome Powell, who +acknowledged progress in the fight against inflation.The jobs report "was an incredible surprise and it raises a +lot of questions about what the Fed is going to do next,” said +Kristina Hooper, chief global market strategist at Invesco. +“What I think is causing some of the volatility is markets +trying to make sense of how the Fed will perceive this.”The Dow Jones Industrial Average fell 127.93 points, +or 0.38%, to 33,926.01, the S&P 500 lost 43.28 points, or +1.04%, to 4,136.48 and the Nasdaq Composite dropped +193.86 points, or 1.59%, to 12,006.96.For the week, the S&P 500 rose 1.6%, the Dow slipped 0.15%, +and the Nasdaq gained 3.3%.Wall Street's main indexes have had a solid start to the +year as tech and other stocks that struggled in 2022 have +rebounded, fueled by hopes that the Fed's rate hikes would soon +end and the economy might be able to navigate a soft landing.“So many things were trading at bargain-basement prices +three, four months ago," said Eric Kuby, chief investment +officer at North Star Investment Management Corp. "That has gone +away... I think we are in a fair game now.”On Friday, investors were also digesting another heavy +batch of corporate results.Shares of Apple, the largest U.S. company by market +value, rose 2.4%. The company forecast that revenue would fall +for a second quarter in a row but that iPhone sales were likely +to improve as production had returned to normal in China.Shares of Amazon slumped 8.4% as the company said +operating profit could fall to zero in the current quarter as +savings from layoffs do not make up for the financial impact of +consumers and cloud customers clamping down on spending.Alphabet shares dropped 2.7% after the Google +parent posted fourth-quarter profit and sales short of Wall +Street expectations.In other corporate news, Ford Motor shares slid 7.6% +after the automaker predicted a difficult year ahead.Declining issues outnumbered advancing ones on the NYSE by a +2.82-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored decliners.The S&P 500 posted 16 new 52-week highs and one new low; the +Nasdaq Composite recorded 127 new highs and 16 new lows.About 12.8 billion shares changed hands in U.S. exchanges, +compared with the 11.9 billion daily average over the last 20 +sessions. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian; Additional reporting by Shubham Batra; Editing +by Sriraj Kalluvila, Maju Samuel and Cynthia Osterman) \ No newline at end of file diff --git a/news/GOOGL/2023.02.03/Wall Street sinks after stunning jobs growth raises questions about Fed.txt b/news/GOOGL/2023.02.03/Wall Street sinks after stunning jobs growth raises questions about Fed.txt new file mode 100644 index 0000000000000000000000000000000000000000..caf292f8e595636d3d31c184d961e5576f689331 --- /dev/null +++ b/news/GOOGL/2023.02.03/Wall Street sinks after stunning jobs growth raises questions about Fed.txt @@ -0,0 +1,45 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*U.S. reports blowout job data; unemployment lowest since +1969*Megapcap earnings reactions: Apple up; Amazon, Alphabet +slump*Ford Motor drops on downbeat outlook*Indexes down: Dow 0.39%, S&P 0.91%, Nasdaq 1.25%(Updates with mid-afternoon trading)Feb 3 (Reuters) - Major U.S. stock indexes fell in +choppy trading on Friday after surprisingly strong jobs data +sparked concerns about aggressive Federal Reserve action, while +investors digested a mixed bag of megacap company earnings +reports.The S&P 500 was still set to end the week with gains and was +not far from five-month highs, while the Nasdaq was on pace for +its fifth straight weekly rise.U.S. job growth accelerated sharply in January, with nonfarm +payrolls surging by 517,000 jobs, well above an estimate of +185,000. The unemployment rate hit a more than 53-1/2-year low +of 3.4%.In another sign of economic strength, U.S. services industry +activity rebounded strongly in January.Investors have been balancing hopeful signs that the economy +could avoid a feared recession against concerns about how long +the Fed will keep interest rates high to rein in inflation. The +S&P 500 gained earlier this week after more dovish-than-expected +comments from Fed Chair Jerome Powell, who acknowledged progress +in the fight against inflation.The jobs report "was an incredible surprise and it raises a +lot of questions about what the Fed is going to do next,” said +Kristina Hooper, chief global market strategist at Invesco. +“What I think is causing some of the volatility is markets +trying to make sense of how the Fed will perceive this.”The Dow Jones Industrial Average fell 132.16 points, +or 0.39%, to 33,921.78, the S&P 500 lost 37.88 points, or +0.91%, to 4,141.88 and the Nasdaq Composite dropped +152.08 points, or 1.25%, to 12,048.74.Wall Street's main indexes have had a solid start to the +year as tech and other stocks that struggled last year have +rebounded, fueled by hopes that the Fed's rate hikes would soon +end and the economy might be able to navigate a soft landing.On Friday, investors were also digesting another heavy +batch of corporate results.Shares of Apple, the largest U.S. company by market +value, were up 3%. The company forecast that revenue would fall +for a second quarter in a row but that iPhone sales were likely +to improve as production had returned to normal in China.Shares of Amazon slumped more than 7% as the +company said operating profit could fall to zero in the current +quarter as savings from layoffs do not make up for the financial +impact of consumers and cloud customers clamping down on +spending.Alphabet shares shed over 2% after the Google +parent posted fourth-quarter profit and sales short of Wall +Street expectations.In other corporate news, Ford Motor shares slid over +7% after the automaker predicted a difficult year ahead.Declining issues outnumbered advancing ones on the NYSE by a +2.69-to-1 ratio; on Nasdaq, a 1.55-to-1 ratio favored decliners.The S&P 500 posted 15 new 52-week highs and one new low; the +Nasdaq Composite recorded 103 new highs and 10 new lows. +(Reporting by Lewis Krauskopf in New York, Shreyashi Sanyal and +Johann M Cherian; Additional reporting by Shubham Batra; Editing +by Sriraj Kalluvila, Maju Samuel and Cynthia Osterman) \ No newline at end of file diff --git a/news/GOOGL/2023.02.04/Object believed to be Chinese balloon seen over North Carolina.txt b/news/GOOGL/2023.02.04/Object believed to be Chinese balloon seen over North Carolina.txt new file mode 100644 index 0000000000000000000000000000000000000000..7c431e9ca8fafd18e24f3d402cf6a1a1538d9caf --- /dev/null +++ b/news/GOOGL/2023.02.04/Object believed to be Chinese balloon seen over North Carolina.txt @@ -0,0 +1 @@ +China earlier expressed regret that an "airship" used for civilian meteorological and other scientific purposes had strayed into U.S. airspace.Reuters was able to verify the location of the video by buildings that matched Google Street View imagery. Reuters could not independently confirm the images were of a spy balloon. \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/AI startup Cohere in talks to raise funding at $6 billion plus valuation -sources.txt b/news/GOOGL/2023.02.06/AI startup Cohere in talks to raise funding at $6 billion plus valuation -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..418e53d0cee643175dc49eb789ffb0430602b685 --- /dev/null +++ b/news/GOOGL/2023.02.06/AI startup Cohere in talks to raise funding at $6 billion plus valuation -sources.txt @@ -0,0 +1 @@ +(Reuters) - Cohere, an AI foundation model company that competes with Microsoft-backed OpenAI, is in talks to raise hundreds of millions of dollars in a funding round that could value the startup at more than $6 billion, sources told Reuters, in the latest sign of the investment frenzy around generative AI.Toronto-based Cohere, established by former researchers at Alphabet in 2019, has quickly risen through the AI startup ranks given their intensive research background and close ties to Google, investors said.Foundation models are AI systems that are trained on large sets of data, with the ability to learn from new data to perform a variety of tasks. Generative AI aims to make human-like creations through computer code that has processed vast amounts of data.Cohere is planning on introducing a new dialogue model that would resemble ChatGPT to let enterprise users generate text and engage with the model to refine the output. Unlike ChatGPT, Cohere's technology will mainly be accessible to developers and businesses, CEO Aidan Gomez told Reuters in an interview."Our chat models are focused more on business applicable tasks like answering questions than writing poems. We don't plan to hand them over to everyone to use for free without limit," said Gomez. "We want to build a healthy and sustainable business."Gomez declined to comment on the funding status of the company.It was not immediately clear how much Cohere was seeking to raise in the current round. Sources requested anonymity for discussing private funding matters. Cohere has raised $170 million to date from funds including Index Ventures, Tiger Global and AI luminaries Geoffrey Hinton, Fei-Fei Li and Pieter Abbeel.FOCUS ON NLPFocusing on training natural language processing (NLP) models, Cohere competes with a group of foundation model providers such as OpenAI and Anthropic.Gomez said the company differentiates itself by focusing on serving enterprise users, and Cohere has been talking to companies from marketing, consulting and tech to help them incorporate generative AI.Cohere announced a cloud partnership with Alphabet to access its TPU computing power last year. Its language AI also becomes available on Amazon's fully managed machine learning service SageMaker in January.Last month, Cohere hired Martin Kon, the former chief finance executive at YouTube, to lead its product and market strategy. Cohere is powering some consumer applications including Hyperwrite, which helps people write faster and generate articles using AI."We expect this year to be a breakout year for us to bring in enterprise customers," said Gomez.Gomez said Cohere will focus on text generation models, unlike its peer OpenAI which has released GPT-3 model for text as well as DALL-E for image generation.Since the launch of ChatGPT in November, the technology that can generate prose, imagery or computer code on command has attracted investors' attention. Other foundation model providers such as Anthropic is also in talks to raise funding at multi-billion valuations, investor sources said.With Microsoft Corp's $10 billion investment in OpenAI, other big tech companies, including Alphabet and Oracle, are also looking at investing in AI startups, sources said.Gomez said Cohere will not take strategic investments that require exclusive rights. "It's important for us to stay independent and work with different cloud providers," said Gomez. (Reporting by Krystal Hu in Toronto; Editing by Kenneth Li and Grant McCool)By Krystal Hu \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/Alphabet A : Bernstein reiterates its Buy rating.txt b/news/GOOGL/2023.02.06/Alphabet A : Bernstein reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..138b70fb4cc7067174c47be523043be9dbb3eb1d --- /dev/null +++ b/news/GOOGL/2023.02.06/Alphabet A : Bernstein reiterates its Buy rating.txt @@ -0,0 +1 @@ +Mark Shmulik from Bernstein retains his positive opinion on the stock with a Buy rating. The target price is being increased from USD 125 to USD 130. \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/Alphabet A : UBS reiterates its Buy rating.txt b/news/GOOGL/2023.02.06/Alphabet A : UBS reiterates its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..a487f37c50c9ffe598ff4bd8e2492b4e427ce793 --- /dev/null +++ b/news/GOOGL/2023.02.06/Alphabet A : UBS reiterates its Buy rating.txt @@ -0,0 +1 @@ +In a research note published by Lloyd Walmsley, UBS advises its customers to buy the stock. The target price is unchanged and still at USD 110. \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/Alphabet A : UBS remains its Buy rating.txt b/news/GOOGL/2023.02.06/Alphabet A : UBS remains its Buy rating.txt new file mode 100644 index 0000000000000000000000000000000000000000..39f3fc9e8aba7943fca67c211717220587f755cd --- /dev/null +++ b/news/GOOGL/2023.02.06/Alphabet A : UBS remains its Buy rating.txt @@ -0,0 +1 @@ +UBS analyst Lloyd Walmsley maintains his Buy rating on the stock. The target price is being increased from USD 110 to USD 120. \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/Analysis-Dollar's gyrations raise hedging costs for U.S. companies.txt b/news/GOOGL/2023.02.06/Analysis-Dollar's gyrations raise hedging costs for U.S. companies.txt new file mode 100644 index 0000000000000000000000000000000000000000..8f9cbbb109c2853da701582ba94ca42d4c6b40bf --- /dev/null +++ b/news/GOOGL/2023.02.06/Analysis-Dollar's gyrations raise hedging costs for U.S. companies.txt @@ -0,0 +1 @@ +Currency volatility drove the J.P. Morgan VXY G7 Index in September to its highest in more than two years. Volatility is still elevated at 10.1, above a 10-year average of 8.34. Currency gyrations hit corporate behemoths like IBM, which cited FX in reporting a $3.5 billion decrease in its 2022 revenue in fourth quarter earnings, while Facebook parent Meta Platforms said its $32.2 billion revenue last quarter would have been $2 billion higher if not for currency headwinds.In the third quarter of 2022, North American and European companies reported $47.18 billion in negative currency impacts, 26% steeper than the loss in the previous quarter, according to Kyriba's Quarterly Currency Impact Report released on Tuesday."FX Volatility is a critical concern for corporate CEOs and their finance chiefs even as the (dollar) has weakened against... other currencies that US corporates are exposed to," Andy Gage, senior vice-president of FX solutions and advisory at Kyriba. The dollar is down more than 7% against a basket of currencies over the last three months, after rising to a 20-year high in 2022. This may be welcome news for companies looking to regain some of last year's losses, but "volatility remains especially concerning as organizations finalize year-end reporting and prepare guidance for 2023," Gage said.A strong dollar means income earned overseas for U.S.-based companies is worth less when converted and makes U.S. goods less competitive abroad. Though the dollar has pared its rally, strategists expect more gyrations in currency markets this year, as central banks adjust monetary policies to fight inflation. Volatility, which causes wider bid-ask spreads and makes hedging more expensive, is causing companies to reassess their hedging programs.LOOKING FOR OPTIONS Companies typically use FX forwards to lock in future exchange rates to minimize currency risks, allowing them to agree an exchange rate ahead of time.As the Federal Reserve aggressively hiked U.S. rates, forward points have increased across many currency pairs containing USD, said Amol Dhargalkar, managing partner and chairman at Chatham Financial.Refinitiv data shows that price on a three-month EURUSD forward rose to 65.52 in December from 20.61 in January 2022. For the British pound it was 23.77 from -5.70 for the same period."There's a psychology and a desire not to lock in lows or highs, depending on which direction you're going on the currency," said Dhargalkar.Some companies are using options to protect against losses caused by exchange rates. This could mean they will benefit if currency fluctuations work in their favor.Abhishek Sachdev, CEO at Vedanta Hedging in the UK, said 30% more of his mid-market clients are using options than a year ago. Though most FX options trading happens bilaterally with banks, the volume of listed FX options at CME Group rose 16% year-on-year in 2022, representing an average of more than 42,000 contracts daily or the equivalent of $4.4 billion notional in trading.Options have their own drawbacks, sources said. Volatility has increased the costs of using options to hedge, creating one hindrance to wider adoption, said Dhargalkar. For instance, implied volatility on a six-months at-the-money EUR/USD option in early December was around 9% versus 6% a year ago, according to Refinitiv data, meaning companies were paying more for the rights that options provide.SPREADING BETS Another way businesses are trying to minimize hedging costs is by spreading currency management around to more brokers outside of their main clearing banks, hedging advisors said.While most currency trading still happens via major banks, third-party firms have grabbed market niches.Revenue at Argentex Group, a riskless principal broker, has risen 63% from to 2021 as FX volatility elevated corporate hedging needs. MillTechFX, a division of independent currency specialist Millennium Global Group has been doubling its number of clients, pushing up its monthly revenues more than 130% since August.While currency gyrations have ebbed and hedging costs have declined, "volatility and inflation remain a concern for many companies," Kyriba's Gage said. (Reporting by Laura Matthews; Editing by Megan Davies and David Gregorio)By Laura Matthews \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/Big Tech not doing enough to remove fake news, activist NGO Avaaz says.txt b/news/GOOGL/2023.02.06/Big Tech not doing enough to remove fake news, activist NGO Avaaz says.txt new file mode 100644 index 0000000000000000000000000000000000000000..f8bbfbafd3f07c241fe7c9ba2718107d7586b731 --- /dev/null +++ b/news/GOOGL/2023.02.06/Big Tech not doing enough to remove fake news, activist NGO Avaaz says.txt @@ -0,0 +1 @@ +The companies are due to present reports this week on the measures they have taken to comply with the updated EU code of practice on disinformation which is linked to the online content rules known as the Digital Services Act (DSA) that came into force last November.Avaaz said it analysed a sample pool of 108 fact-checked pieces of content related to a 2022 American anti-vaccine film and found efforts by the social media platforms including Meta's Instagram to remove disinformation fell short."Overall, just 22% of disinformation content we analysed was either labelled or removed by the six major platforms," Avaaz said.It said the companies did not do enough to tackle disinformation in languages other than English."Despite explicit platform commitments in the code to improve their services in all EU languages, our research found that in certain EU languages - Italian, German, Hungarian, Danish, Spanish and Estonian - no platform took any action against violating posts," Avaaz said."This study suggests that most of the major platforms are failing to comply with their Code of Practice commitments and might infringe upcoming DSA obligations," the group said.Meta, Alphabet, Twitter and Microsoft last year vowed to take a tougher line against disinformation after committing to the updated EU code.Companies face fines up to 6% of their global turnover for DSA violations. (Reporting by Foo Yun Chee)By Foo Yun Chee \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/Dell to slash over 6,000 jobs amid 'uncertain market future'.txt b/news/GOOGL/2023.02.06/Dell to slash over 6,000 jobs amid 'uncertain market future'.txt new file mode 100644 index 0000000000000000000000000000000000000000..3486396f3f935687f8e7c7d0bfbb078f038647d0 --- /dev/null +++ b/news/GOOGL/2023.02.06/Dell to slash over 6,000 jobs amid 'uncertain market future'.txt @@ -0,0 +1,24 @@ +Feb 6 (Reuters) - Dell Technologies Inc is +cutting about 6,650 jobs, or 5% of its global workforce, as it +struggles with a slump in the personal computer market and +braces for a potential recession.The move on Monday aligns Dell with a raft of U.S. companies +from Goldman Sachs Group Inc to Alphabet Inc +that have laid off thousands this year to ride out a demand +downturn wrought by high inflation and rising interest rates.Dell had already rolled out cost-cutting moves such as a +hiring pause and limits on travel as it dealt with a +post-pandemic collapse in PC sales, which account more than half +of its revenue.However, those moves are "no longer enough", co-Chief +Operating Officer Jeff Clarke wrote in a memo to employees."What we know is market conditions continue to erode with an +uncertain future," Clarke said. Dell expects to book costs +related to the layoffs in its fiscal fourth quarter, which ends +in January.Rival HP Inc has also said it will cut up to 6,000 +jobs. The market for PCs and tablets is set for another year of +decline in 2023 with a fall of 2.6%, according to research firm +IDC, after rapid growth during the pandemic on the back of +remote working."It was only a matter of time before the wave of tech +layoffs reached Dell's shores, given how sensitive the company +is to both consumer and corporate confidence," said Susannah +Streeter, markets analyst, Hargreaves Lansdown.Dell had about 133,000 employees as of Jan. 28, 2022, of +which, about one-third were based in the United States.The layoffs were first reported by Bloomberg News earlier on +Monday.Dell's shares were flat before the bell.(Reporting by Shivani Tanna and Eva Mathews in Bengaluru; +Editing by Savio D'Souza and Shounak Dasgupta) \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/EU's Breton urges rethink on cross-border telecoms mergers.txt b/news/GOOGL/2023.02.06/EU's Breton urges rethink on cross-border telecoms mergers.txt new file mode 100644 index 0000000000000000000000000000000000000000..12ec8985308bd9f0358c4e0f1838685f759d6c82 --- /dev/null +++ b/news/GOOGL/2023.02.06/EU's Breton urges rethink on cross-border telecoms mergers.txt @@ -0,0 +1 @@ +EU antitrust chief Margrethe Vestager has been reluctant to allow telecoms providers acquire EU peers without hefty remedies, especially when deals reduce the number of players from four to three, underlining concerns about the market power of fewer but larger telecoms operators.The telecoms industry however said consolidation is required to pool resources to roll out costly fast-speed broadband and 5G."I believe that creating a true single market for telecommunications services also requires a reflection on encouraging cross-border consolidation, all while preserving fair and necessary competition for the benefit of our consumers," Breton said in a speech to be delivered at an event in Helsinki.On the issue of whether Alphabet Inc's Google, Meta, Amazon.com Inc, Netflix Inc, Apple Inc and Microsoft Corp should bear some network costs, Breton said the European Commission will launch a consultation this month on the topic."The investments which will be required to achieve our ambitions will be enormous and we need to ensure that they are matched by the availability of sufficient funding. The burden of this financing should not be only on the shoulders of the member states or the EU budget," he said."At a time when technology companies are using most bandwidth and telco operators are seeing their return on investment drop, this also raises the question of who pays for the next generation of connectivity infrastructure," Breton said. (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)By Foo Yun Chee \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/Google opens Bard chatbot to test users, plans more AI for search.txt b/news/GOOGL/2023.02.06/Google opens Bard chatbot to test users, plans more AI for search.txt new file mode 100644 index 0000000000000000000000000000000000000000..9ecd50a00fddf33498e8a1afd5c8931aa48de77f --- /dev/null +++ b/news/GOOGL/2023.02.06/Google opens Bard chatbot to test users, plans more AI for search.txt @@ -0,0 +1 @@ +In a blog post on Monday, Alphabet CEO Sundar Pichai said the company is opening a conversational AI service called Bard to test users for feedback, followed by a public release in the coming weeks. (Reporting By Jeffrey Dastin in Palo Alto, Calif.; Editing by Chris Reese) \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/Google unveils ChatGPT rival Bard.txt b/news/GOOGL/2023.02.06/Google unveils ChatGPT rival Bard.txt new file mode 100644 index 0000000000000000000000000000000000000000..0beda7a53bce2e67bd306b32250fe26567392be3 --- /dev/null +++ b/news/GOOGL/2023.02.06/Google unveils ChatGPT rival Bard.txt @@ -0,0 +1 @@ +Google parent Alphabet on Monday announced plans to launch Bard - an artificial intelligence chatbot service.Bard will be released to test users before being released to the public in the coming weeks.Powering Bard is LaMDA, Google's AI that can generate prose so human-like that a company engineer last year called it sentient - or able to perceive or feel things - a claim the technology giant and scientists widely dismissed.This news follows recent statements by Microsoft that it aims to infuse AI into all its products following the launch of the explosively popular ChatGPT - the chatbot sensation which can generate articles, essays, jokes and even poetry in response to prompts.Microsoft is an investor in and partner with ChatGPT's maker, OpenAI.It has been rated the fastest-growing consumer app in history.Alphabet Chief Executive Sundar Pichai said Google also plans to add AI-powered features to its search engine to synthesize information to answer complex queries.Pichai said Google will give tools, first powered by LaMDA and later by other AI technology, to web developers, creators and enterprises starting next month. \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/India's Paytm jumps over 7% on ahead-of-schedule operating profit.txt b/news/GOOGL/2023.02.06/India's Paytm jumps over 7% on ahead-of-schedule operating profit.txt new file mode 100644 index 0000000000000000000000000000000000000000..9096dd3a6ed8d81a9babc58c548e41452832f967 --- /dev/null +++ b/news/GOOGL/2023.02.06/India's Paytm jumps over 7% on ahead-of-schedule operating profit.txt @@ -0,0 +1,28 @@ +BENGALURU, Feb 6 (Reuters) - Shares of India's Paytm +rose as much as 7.4% on Monday, in their biggest +intraday jump in nearly two months after the fintech company +unexpectedly posted its first-ever quarterly operating profit as +a listed firm.Paytm posted earnings before interest, taxes, depreciation, +and amortization, or EBITDA, of 310 million rupees ($3.8 +million) for the October-December quarter, nine months ahead of +its stated target of September 2023."This was mainly on the back of rising mix of high-margin +lending revenue, improving merchant subscription, reducing +payment processing and promotional charges," BofA Securities +analysts said in a note.There has been a cloud over the ability of the company, +which is backed by China's Ant Group and Japan's SoftBank Group +Corp, to turn profitable ever since its initial public +offer (IPO), still India's biggest ever, in November 2021.That has led to a 75% tumble in the stock since the IPO.While Paytm still posted a net loss for the third quarter, +it nearly halved due to surging demand for buy-now-pay-later +(BNPL) loans at its fast-growing financial services business.While BNPL loan disbursement rocketed four-foldin the +quarter, net margins in Paytm's digital payments division more +than doubled to 4.59 billion.The eponymous payments business had a 14.7% share of India's +digital payment space in December, lagging Walmart-backed +PhonePe's 46% share and Alphabet Inc-owned Google Pay's +34% share, according to official data.Nonetheless, turning EBITDA positive will be a near-term +catalyst, said BofA, keeping its "neutral" rating on the stock."Management's commentary around sustaining along the +profitability path will be key," the brokerage said.Paytm has also previously said it expects to become free +cash flow positive this year.The stock was last up about 4.7% at 550 rupees as of 10:53 +a.m. IST. It had slid 3.6% this year through Friday. +($1 = 82.4050 Indian rupees) +(Reporting by Nandan Mandayam in Bengaluru; Editing by Savio +D'Souza) \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/Insig AI shares up on new AI integration capabilities.txt b/news/GOOGL/2023.02.06/Insig AI shares up on new AI integration capabilities.txt new file mode 100644 index 0000000000000000000000000000000000000000..46ff1d26ed6d9ea190de75044c5500409ba974ae --- /dev/null +++ b/news/GOOGL/2023.02.06/Insig AI shares up on new AI integration capabilities.txt @@ -0,0 +1 @@ +Insig AI PLC - London-based data science and machine learning - Says it has conducted a series of tests using ChatGPT and other Generative AI models, and it is now able to integrate "the latest AI capabilities" from Alphabet Inc's Google, Open AI and the most advanced models such as ChatGPT and GPT-3. "We regard the advancement of this type of text based analysis as the ideal overlay to our existing repository of machine readable ESG and corporate data. Combining the deep contextual understanding that ChatGPT brings with our highly focused ESG natural language processing classifiers will provide differentiation in surfacing the most relevant ESG disclosures, thereby increasing overall analysis and productivity," Insig says.Chief Product Officer Steve Cracknell says: "Analysing vast volumes of data requires readily accessible machine readable data. Having a strong domain understanding is critical to be able to evaluate the quality of an output. Our machine learning capability, substantial repository and extensive cloud expertise ideally positions Insig AI to benefit from this technological breakthrough."Current stock price: 16.44 pence, up 6.1% in London on Monday morning12-month change: down 58%By Sophie Rose, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2023 Alliance News Ltd. All Rights Reserved. \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/Saudi Arabia says tech giants to invest more than $9 bln in kingdom.txt b/news/GOOGL/2023.02.06/Saudi Arabia says tech giants to invest more than $9 bln in kingdom.txt new file mode 100644 index 0000000000000000000000000000000000000000..cf8cb78dff56d8252bb2979dc47b3d8c80f815e9 --- /dev/null +++ b/news/GOOGL/2023.02.06/Saudi Arabia says tech giants to invest more than $9 bln in kingdom.txt @@ -0,0 +1,28 @@ +RIYADH, Feb 6 (Reuters) - Saudi Arabia has attracted +more than $9 billion in investments in future technologies, +including by U.S. giants Microsoft and Oracle Corp +, which are building cloud regions in the kingdom, a +government minister said on Monday.Saudi Minister of Communication and Information Technology +Abdullah Alswaha said Microsoft will invest $2.1 billion in a +global super-scaler cloud, while Oracle has committed $1.5 +billion to build a new cloud region in Riyadh."The investments... will enhance the kingdom of Saudi +Arabia's position as the largest digital market in the Middle +East and North Africa," Alswaha said at LEAP, an international +technology forum taking place in Riyadh.Alswaha did not give details on the timeframe. Oracle told +Reuters the investment will be made over several years.Saudi officials have pressed international companies to +invest in the kingdom and move their regional headquarters to +Riyadh in order to benefit from government contracts.The kingdom has been pouring hundreds of billions of dollars +into an economic plan, known as Vision 2030, led by its de facto +ruler Crown Prince Mohammed bin Salman.But it has struggled to attract foreign direct investment +(FDI), one of the pillars of Vision 2030, which aims to +diversify the economy away from oil.The minister said China's Huawei will also invest +$400 million in cloud infrastructure for its services in Saudi +Arabia and another cloud region in partnership with oil giant +Aramco.An additional $4.5 billion was invested in global and local +assets across multiple sectors at the forum, Alswaha added.Tonomus, a subsidiary of the $500 billion signature NEOM +project of the crown prince, said last year it invested $1 +billion in 2022 in AI, including a metaverse platform.Increased demand for cloud computing has pushed technology +companies such as Oracle, Microsoft, Amazon and +Alphabet's Google to set up data centres across the +world to speed up data transfer. +(Reporting by Aziz El Yaakoubi; Editing by Sharon Singleton) \ No newline at end of file diff --git a/news/GOOGL/2023.02.06/U.S. employment weighs on markets.txt b/news/GOOGL/2023.02.06/U.S. employment weighs on markets.txt new file mode 100644 index 0000000000000000000000000000000000000000..2af7582aa51c68dd30b4c03bfa5ad8e7b7677bf0 --- /dev/null +++ b/news/GOOGL/2023.02.06/U.S. employment weighs on markets.txt @@ -0,0 +1,43 @@ + +Equity markets posted another weekly gain, but the party was spoiled by a complicated Friday session in the US. Going into the details, quite a bit has happened in the last few sessions, of which I will focus on citing the most important here. +Firstly, The Fed's first monetary policy decision of 2023 was in line with expectations, with a small rate hike. But Jerome Powell was less combative than expected, which increased investors' risk appetite, who believe that the US central bank is moving towards a more favorable policy.  +Secondly, big American technology groups such as Apple, Alphabet, and Amazon have published mediocre quarterly results. Don't worry about them, they are still raking in billions. But they are not so proud of it because the sales figures are not so good. I would like to remind you that it is complicated to make a turnover look better than it really is. But it is quite easy to make earnings per share match market expectations with a minimum of accounting ingenuity and a few well-intentioned share buybacks. +Thirdly, the monthly US employment report published on Friday highlighted the saying "good news for the economy is not necessarily good news for the financial markets". Because the US economy is still going strong, at least from the point of view of the labor market where job creation is explosive and the unemployment rate is at a low point (for a more nuanced view, read a paper by economist James Knightley here). Written like that, it sounds like good news. And it probably is. But not from the point of view of US central bankers, who fear that this momentum could undermine their efforts to slash inflation in a sustainable way. At this stage, there are no signs of a price-wage spiral (rising prices lead to rising wages, which lead to rising prices, which... you get the idea). At least not in the same proportions: wages are rising, but less than prices. However, the statistic dampened the optimism seen in Tuesday, Wednesday and Thursday's sessions. Bond yields accelerated sharply on the 10-year US bond, which is a sign of the return of some tension on the path of monetary policy. But let's not get carried away: these yields are still a long way from the levels of the fall of 2022 when uncertainty about the evolution of inflation was at its peak. +The equity and bond markets feel that the central banks are getting closer to the end of their rate hike cycle. However, some doubts remain and investors are navigating with the statistics that confirm or refute these doubts. Among the main unknowns are + +The precise level of the rate peak +How long rates will remain at the peak level (and by implication the question of when the first drop in the cycle will occur) +And the profound economic consequences of current rate levels (on real estate, corporate financing, household consumption, etc.) + +Returning to last week's performance, Western equity markets posted gains generally between 1 and 2%, rising to over 3% for the Nasdaq 100, the major index that best symbolizes risk appetite. The French CAC40 performed well, gaining nearly 2%. The Parisian index was up thanks to technology companies and its exposure to luxury goods, which is an excellent mirror of the Chinese recovery. +Let's talk about China because Hong Kong and Shanghai are down sharply this morning. This is due to the renewed geopolitical tension between Washington and Beijing after the case of the Chinese observation balloon that drifted in the sky of the United States last week. The discovery of the balloon was initially surprising, but then China explained that it was a civilian balloon that had gone astray, which nobody believed. The balloon was eventually shot down: America could not afford to let a Chinese craft roam in its airspace. Beijing took offense. This is the typical action-reaction game of this kind of situation. Nevertheless, this affair comes at a bad time, since the two powers had planned to hold high-level talks. +In other news over the weekend, India will ban betting and lending apps linked to China. The EU is imposing a cap on Russian diesel exports and a massive earthquake hit southern Turkey and Syria. The macroeconomic calendar will be mostly filled with Asia this week, but it seems that investors are more concerned with the Fed boss' speech tomorrow at 6 pm. Will he get a clear message across after seeming to miss the point last week? That is the question. On the corporate front, the list is still particularly long this week. I'll mention a few to get you in the mood: Linde, BP Plc, BNP Paribas, Carlsberg (Tuesday), Walt Disney, TotalEnergies, CVS Health, Uber, AP Moller Maersk, Adyen, Societe Generale, Akzo, Amundi (Wednesday), AbbVie, PepsiCo, AstraZeneca, L'Oréal, Philip Morris, Unilever, S&P Global, PayPal, Siemens, Vinci, Compass, KBC, Legrand, Crédit Agricole (Thursday). Finally, there were a few capital transactions, including the "unsolicited" takeover offers of Newcrest by Newmont Corporation (that's in gold mining) and of Life Storage by Public Storage (that's in personal storage). +Economic highlights of the day: +German factory orders in December (3:00 am) and Eurozone retail sales in December (5:00am) will enliven the session. All the agenda here. +  +The dollar is up 0.2% to EUR 0.9288 and down 0.07% to GBP 0.8298. The ounce of gold is down to 1872 USD. Oil is also under pressure, with North Sea Brent crude at USD 80.18 a barrel and US WTI light crude at USD 73.70. The yield on 10-year US debt rebounds to 3.55%. Bitcoin is falling back to around USD 22,800. + +In corporate news: + +Newmont said it has made a $16.9 billion bid for Australian miner Newcrest Mining to build a global gold conglomerate. +Chevron has entered into negotiations with Algeria to undertake energy exploration activities in the North African country.  +Dell will cut about 6,650 jobs, or about 5 percent of the computer giant's global workforce, due to declining demand for its personal computers. +Oracle plans to invest $1.5 billion in Saudi Arabia in the coming years to build its cloud presence in the country. +Public Storage, the largest U.S. operator of self-storage properties, announced Sunday that it had made an unsolicited $11 billion bid for rival Life Storage Inc. +Carlyle has hired Harvey Schwartz, a former Goldman Sachs executive, as the private equity firm's next chief executive. +Tesla raised U.S. prices for its best-selling Model Y vehicle by $1,000 after the government raised the price cap on crossover electric vehicles eligible for tax credits. +Rogers - Starboard Value has amassed a significant stake in the electronic materials company and is seeking seats on the group's board. +Southwest Airlines - The airline's chief operating officer, Andrew Watterson, will testify on Feb. 9 before the U.S. Senate Commerce Committee after the group's operational problems in December led to the cancellation of more than 16,000 flights. + +Analyst recommendations: + +Hartford Financial Services Group: Piper Sandler raised the target to $96 from $83. Maintains overweight rating. +Lear: Evercore upgrades to inline from outperform. PT up 2.7% to $145. +M/I Homes: Wedbush raised the target to $73 from $63. Maintains outperform rating. +NVR: KeyBanc Capital Markets starts NVR at Sector Perform with $6,000 Price Target. +Pool: Stifel downgrades to hold from buy targeting $360. +RH: Telsey Advisory Group cut the recommendation to market perform from outperform. Price Target down 4% to $330. +Saia: Benchmark Company maintains buy rating to $320 from $230. Maintains buy rating. +Tesla: Guggenheim raised to $105 from $89. + + diff --git a/news/GOOGL/2023.02.07/ChatGPT mania pumps up Chinese AI technology stocks.txt b/news/GOOGL/2023.02.07/ChatGPT mania pumps up Chinese AI technology stocks.txt new file mode 100644 index 0000000000000000000000000000000000000000..b2e15706c37e7431bc511588c2cc37ee7089b5cc --- /dev/null +++ b/news/GOOGL/2023.02.07/ChatGPT mania pumps up Chinese AI technology stocks.txt @@ -0,0 +1 @@ +Just two months after its launch, ChatGPT - which can generate articles, essays, jokes and even poetry in response to prompts - has been rated the fastest-growing consumer app in history. That has pushed Google owner Alphabet Inc to plan its own chatbot service and using more artificial intelligence for its search engine.While ChatGPT is not accessible in China, mainland investors are still pumping up the shares of AI technology companies such as Hanwang Technology Co, TRS Information Technology Co and Cloudwalk Technology Co.The CSI AI Industry Index, which includes larger capitalized companies such as iFlytek Co, is up about 17% this year, outperforming the benchmark CSI300 Index's 6% rise. To be sure, there is no indication that these AI companies are close to pushing out a ChatGPT-like product. The closest seems to be search engine giant Baidu Inc with plans to complete testing of its "Ernie bot" in March. Its shares surged more than 13% on Tuesday after making the announcement."The industry as a whole tends to first speculate on expectations before only later trading on actual results," said Zhang Kexing, general manager of Beijing Gelei Asset Management.Shares of Hanwang Technology, which makes products that enable intelligent interactions, jumped by their daily limit of 10% for the seven sessions after markets reopened from the Lunar New Year holiday, boosting prices by more than 60% so far in February. The company expects to report an annual loss for 2022 but believes it has an edge over an interface like ChatGPT because its model can produce more precise results for clients. Cloudwalk shares have more than doubled in the seven trading days since the Lunar New Year holidays. On Tuesday, the company cautioned investors, saying its losses deepened in 2022, it has not cooperated with OpenAI, and has generated no revenues from ChatGPT-related services and products. Other companies that have disclosed their progress in AI technology include TRS Information Technology, and Beijing Haitian Ruisheng Science Technology Ltd. Their share prices have soared too. The price surge has stretched valuations. TRS for example, trades at nearly 60 times earnings, while Huisheng's price-to-earnings ratio is more than 240.Retail investor Lu Deyong has purchased shares in TRS and iFlytek and is seeking to profit from the ChatGPT hype."ChatGPT is just a hot idea," he said. However, he doesn't think "China can realize such a technology in the short term.""For us retail investors, we prefer smaller stocks with this concept to make some quick money," Lu said. (Reporting by Samuel Shen, Jason Xue and Brenda Goh; Editing by Vidya Ranganathan and Christian Schmollinger) \ No newline at end of file diff --git a/news/GOOGL/2023.02.07/Ebay to lay off 500 employees.txt b/news/GOOGL/2023.02.07/Ebay to lay off 500 employees.txt new file mode 100644 index 0000000000000000000000000000000000000000..133c47b5e5eca5a83022a0a7faff2770b09836a1 --- /dev/null +++ b/news/GOOGL/2023.02.07/Ebay to lay off 500 employees.txt @@ -0,0 +1 @@ +Shares of the San Jose, California-based company rose about 1% in aftermarket trade. "This shift gives us additional space to invest and create new roles in high-potential areas - new technologies, customer innovations and key markets," said Jamie Iannone, Chief Executive Officer of Ebay in a message to employees. A raft of U.S. companies from Goldman Sachs Group Inc to Alphabet Inc have laid off thousands this year to ride out a demand downturn wrought by high inflation and rising interest rates. (Reporting by Chavi Mehta and Shreyaa Narayanan in Bengaluru; Editing by Krishna Chandra Eluri) \ No newline at end of file diff --git a/news/GOOGL/2023.02.07/Ex-Twitter privacy chief takes job at social media app BeReal.txt b/news/GOOGL/2023.02.07/Ex-Twitter privacy chief takes job at social media app BeReal.txt new file mode 100644 index 0000000000000000000000000000000000000000..9d793a8b8784782b7b5b38750d95342b0a07a541 --- /dev/null +++ b/news/GOOGL/2023.02.07/Ex-Twitter privacy chief takes job at social media app BeReal.txt @@ -0,0 +1,22 @@ +(Reuters) - Damien Kieran, who resigned as Twitter +Inc's chief privacy officer in November after Elon +Musk took over the social media giant, has joined photo sharing +app-maker BeReal as its top lawyer.Kieran started Monday as general counsel at Paris-based +BeReal, he said in posts on LinkedIn and Twitter. "The product, +the people, and the potential lured me in," he wrote on +LinkedIn.Kieran and BeReal, whose popular social media app prompts +users to share a daily photo, did not immediately respond to +requests for comment.In addition to his role as chief privacy officer, Kieran was +also vice president and deputy general counsel at Twitter before +leaving in November, according to his LinkedIn account.He resigned along with other Twitter executives, including +chief information security officer Lea Kissner and chief +compliance officer Marianne Fogarty, two weeks after Musk +completed his $44 billion acquisition and became CEO.Musk fired Twitter's legal affairs and policy chief Vijaya +Gadde in October. Other top lawyers, including deputy general +counsel James Baker, have also been fired or resigned.Twitter did not immediately respond to a request for comment +Tuesday about its current legal staffing, and it is unclear how +many lawyers remain. Several in-house lawyers have taken on new +roles since November, according to LinkedIn updates.Kieran joined Twitter in 2016. He previously worked as an +associate at law firms Paul, Weiss, Rifkind, Wharton & Garrison +and Weil Gotshal & Manges and in the legal department at +Alphabet Inc's Google, according to his LinkedIn account. \ No newline at end of file diff --git a/news/GOOGL/2023.02.07/Exclusive-French adtech firm Criteo in new bid to sell itself -sources.txt b/news/GOOGL/2023.02.07/Exclusive-French adtech firm Criteo in new bid to sell itself -sources.txt new file mode 100644 index 0000000000000000000000000000000000000000..70295a1d2d989e86afa08d31adb7426b07fb574d --- /dev/null +++ b/news/GOOGL/2023.02.07/Exclusive-French adtech firm Criteo in new bid to sell itself -sources.txt @@ -0,0 +1 @@ +The Paris-based company, which is listed in New York, kicked off a sale process last week that could attract other companies and private equity firms, one of the sources said. Investment bank Evercore Inc is advising Criteo on the process, the sources added.Bloomberg News reported in 2021 that Criteo was fielding takeover interest. It was not immediately clear what prompted the new deal talks. The company has been seeking to reassure shareholders it can overcome challenges to its business of tracking consumer data as iPhone maker Apple Inc and Android developer Google tighten privacy standards on their devices. The sources, who cautioned that no deal is certain, requested anonymity as these discussions are confidential. Criteo declined to comment, while an Evercore spokesperson did not immediately respond to a request for comment.Criteo shares jumped on the news and were up 8% at $33.65 in New York on Tuesday, giving the company a market value of about $2 billion.The sale process for Criteo will likely pique the interest of buyout firms that have shown strong interest in audience measurement and analytics companies. In October, Elliott Investment Management's private equity arm and Brookfield Business Partners LP acquired Nielsen Holdings Plc for $16 billion. Truist analyst Matthew Thornton wrote in a note to clients after the Reuters report that his analysis indicated Criteo could fetch more than $60 per share if it was acquired at the same valuation multiple as Nielsen. Criteo collects data through partnerships with companies, ad agencies and brands, and earns money by charging advertisers when consumers click on personalized ads. It has been utilizing so-called first-party media technology, which relies on data that consumers provide to websites either through direct input or through tracking "cookies," to overcome the introduction of privacy settings on devices such as the iPhone. These tactics face new challenges as Google prepares to phase out cookies on its popular web browser Chrome as early as next year. In response, Criteo has been investing in its fast-growing retail media business, which involves partnering directly with the websites of retailers. Criteo has reported adjusted earnings before interest, taxes, depreciation and amortization of $163 million for the first nine months of 2022, down 23% from a year earlier. It is scheduled to report fourth-quarter earnings on Wednesday. (Reporting by Milana Vinn in New York; editing by Jonathan Oatis and Nick Zieminski)By Milana Vinn \ No newline at end of file diff --git a/news/GOOGL/2023.02.07/Explainer-Bard vs ChatGPT: What do we know about Google's AI c...txt b/news/GOOGL/2023.02.07/Explainer-Bard vs ChatGPT: What do we know about Google's AI c...txt new file mode 100644 index 0000000000000000000000000000000000000000..edd31089f7c2057e83748ff90168be4855ef4318 --- /dev/null +++ b/news/GOOGL/2023.02.07/Explainer-Bard vs ChatGPT: What do we know about Google's AI c...txt @@ -0,0 +1 @@ +Just minutes after Google announced the launch of Bard on Monday, Microsoft said it would hold an event at its Redmond headquarters to reveal its own AI, potentially setting the stage for the next Chrome-versus-Internet Explorer or Gmail-versus-Hotmail. Microsoft-backed OpenAI's ChatGPT has taken the tech world by storm since it was opened for public use last year, as people worldwide got creative with prompts that the conversational chatbot uses to create everything from poems and novels to jokes and film scripts. The artificial intelligence service could change how consumers search for information or create content on command and free up time for white-collar workers.Here are some key differences between Bard and ChatGPT: WHAT DO THEY DO?The services that Google's Bard and ChatGPT would offer are similar. Users will have to key in a question, a request or give a prompt to receive a human-like response.Microsoft and Google plan to embed AI tools to bolster their search services Bing and Google Search, which account for a big chunk of revenue. HOW ARE THEY DIFFERENT? Both technologies can distill complex information and multiple perspectives into easy-to-digest formats, but the most apparent difference is Bard's ability to include recent events in the responses.Though not immediately clear how the two services will differ, it is certain that Alphabet's Bard will have access to more data. Bard draws on information from the internet, while ChatGPT has access to data until 2021.LAMDA VERSUS GPTBard is based on LaMDA, short for Language Model for Dialogue Applications. The AI generated text with such skill that a company engineer last year called it sentient, a claim the technology giant and scientists widely dismissed.    OpenAI's GPT, or Generative Pre-trained Transformer, was first released in 2020, and the GPT 3.5 series of language models that finished training in early 2022 is the backbone of ChatGPT."ChatGPT sometimes writes plausible-sounding but incorrect or nonsensical answers," Open AI said in a blog post.WHEN WILL BARD BE AVAILABLE?While OpenAI made a free research preview of ChatGPT available for public use on Nov. 30 last year, Bard is currently only open to a group of testers. Alphabet CEO Sundar Pichai said in a blog post that the conversational AI service will be made widely available in the coming weeks.ARE THERE OTHER ALTERNATIVES?In the two months after ChatGPT's launch, a number of tech companies have doubled down on generative AI technology, while a number of startups are independently working on their own projects.Baidu, China's answer to Google, is the latest company to join the frenzy. Its AI is called Ernie. (Reporting by Nivedita Balu and Akash Sriram in Bengaluru; Editing by Devika Syamnath) \ No newline at end of file diff --git a/news/GOOGL/2023.02.07/Marketmind- Market to ChatGPT: what's Powell gotta say?.txt b/news/GOOGL/2023.02.07/Marketmind- Market to ChatGPT: what's Powell gotta say?.txt new file mode 100644 index 0000000000000000000000000000000000000000..1be6cd5c20d9151a7991ddea2f42912527636c06 --- /dev/null +++ b/news/GOOGL/2023.02.07/Marketmind- Market to ChatGPT: what's Powell gotta say?.txt @@ -0,0 +1 @@ +Investors are just about coming to terms with the eye-popping payrolls number from Friday, but with Fed Chair Jerome Powell due to speak later in the day, the market will ponder which Powell will turn up (the hawk or the dove). Perhaps ChatGPT has the answer. Google owner Alphabet unveiled a rival to super popular ChatGPT, saying it will launch a chatbot service named 'Bard'. And so the battle for generative AI, technology that can create prose or other content on command and free up white-collar workers' time, heats up, with Microsoft planning its own AI reveal for Tuesday.The meteoric rise of ChatGPT, a chatbot from Microsoft-backed OpenAI, has also helped attract retail investors in other smaller firms as artificial intelligence becomes the latest buzzword on Wall Street. (More than 20 years after AI the movie was released) The main event in Asia was Australia's central bank raising its cash rate by 25 basis points to a decade-high of 3.35% and reiterating that further increases would be needed to fight inflation. The Aussie dollar spiked higher, while short term bonds tumbled.Asian shares held their ground while the rally in the U.S. dollar took a breather on Tuesday.Meanwhile, a deadly earthquake killed more than 3,700 people across a swathe of Turkey and northwest Syria, sending Turkey's lira to a record low. Before Powell takes centre stage and hogs the limelight, Bank of England's Huw Pill is also due to speak and his comments on monetary policy will likely move markets.Key developments that could influence markets on Tuesday: Economic events: U.K. Halifax house prices for January, Swiss unemployment data Speakers: Bank of England's Huw Pill, ECB's Peter Kazimir and Klaas Knot and Fed Chair Powell Earnings: BNP Paribas SA Q4 results (Reporting by Ankur Banerjee; Editing by Jacqueline Wong) \ No newline at end of file diff --git a/news/GOOGL/2023.02.07/Microsoft adds AI to search engine, challenges Google.txt b/news/GOOGL/2023.02.07/Microsoft adds AI to search engine, challenges Google.txt new file mode 100644 index 0000000000000000000000000000000000000000..82008c8e17fdeca842ebef3ca08b87e748a6023d --- /dev/null +++ b/news/GOOGL/2023.02.07/Microsoft adds AI to search engine, challenges Google.txt @@ -0,0 +1 @@ +Microsoft announced it will be using technology from its partnership with the startup OpenAI, to bring ChatGPT-like technology into the Microsoft search engine... aiming to soar past its main rival, Google.Reuters Technology Correspondent, Jeffrey Dastin, was in Redmond, Washington for the announcement."The company announced essentially its biggest challenge to Google yet by planning to launch and roll out a search engine and web browser completely infused with AI. So the idea is that Microsoft's Bing Search Engine and Edge web browser will have chatbot style functionality, kind of like the chatbot sensation ChatGPT."OpenAI made a preview of ChatGPT available for public use late last year. Its human-like responses to any prompt have given people new ways to think about the possibilities of marketing, writing term papers or disseminating news. DASTIN: "The technology known as ChatGPT that many of us have played around with, experienced, is itself based on a system that's actually a few years old. And the maker of that technology, OpenAI, has been continually working to improve it, not just in the version that we see online today, but in things that aren't released yet. And also, for instance, in this upcoming Bing search engine. So it essentially - there will be a more advanced version of that powerful AI in Microsoft's new search engine. Though one important thing to note is that it still has a lot to learn. It still is dependent on feedback so that it can provide factual and the best answers to consumers." Bing's chatbot will help users refine questions more easily, give more relevant up-to-date results, and even make shopping easier."For instance, if you want to know if a car seat will fit in the back of your particular vehicle, it will knowing the information you provide it, give you an answer so that you don't have to try to make sense of different web pages on your own." Bing is far behind Google in search market share. But AI could alter the landscape. "AI is essentially the frontier right now in search engine technology. So Google for years has been the number one provider. (flash)"Bing - with the search engine from Microsoft - is trying to change that. And the idea is that if AI can help you answer things that don't already exist on the Web and can create all sorts of new experiences and functionality like email-composing and translation and even grocery list and shopping help, then Microsoft is hoping that it can gain, share and compete with Google." Google on Monday unveiled a chatbot of its own called Bard.. and it's planning to release AI for its search engine. But which AI-powered search engine consumers will prefer in the long run remains to be seen. \ No newline at end of file diff --git a/news/GOOGL/2023.02.07/Microsoft to infuse software with more AI as Google rivalry heats up.txt b/news/GOOGL/2023.02.07/Microsoft to infuse software with more AI as Google rivalry heats up.txt new file mode 100644 index 0000000000000000000000000000000000000000..28bd2cfa7c5b6dc94b5207726388534b75311cae --- /dev/null +++ b/news/GOOGL/2023.02.07/Microsoft to infuse software with more AI as Google rivalry heats up.txt @@ -0,0 +1 @@ +Microsoft is staking its future on AI through billions of dollars of investment. Working with the startup OpenAI, the company is aiming to rival Alphabet Inc's Google and potentially claim vast returns from tools that speed up all manner of content creation, automating tasks if not jobs themselves."This technology is going to reshape pretty much every software category," said Microsoft Chief Executive Satya Nadella, in a briefing for reporters at Microsoft headquarters in Redmond, Washington.Shares of Microsoft rose 3.6% in afternoon U.S. trading to $266.02 a share. The power of so-called generative AI that can create virtually any text or image dawned on the public last year with the release of ChatGPT, the chatbot sensation from OpenAI. Its human-like responses to any prompt have given people new ways to think about the possibilities of marketing, writing term papers or disseminating news, or even how to query information online.Microsoft is now aiming to market OpenAI's technology, including ChatGPT, to its cloud customers and add the same power to its suite of products, including search.Google has taken note. On Monday it unveiled a chatbot of its own called Bard, while it is planning to release AI for its search engine that can synthesize material when no simple answer exists online.The rivalry in search is now among the industry's biggest, as OpenAI sets up Microsoft to expand its 9% share at Google's expense, said Daniel Ives, an analyst with Wedbush Securities."Microsoft is looking to win this AI battle," he said in a research note on Monday.For the quarter ending Dec. 31, Alphabet reported $42.6 billion in Google Search and other revenue, while Microsoft posted $3.2 billion from search and news advertising.Behind Microsoft's OpenAI partnership is its plan to invest in supercomputer development and cloud support so the startup can release more sophisticated technology and aim at the level of machine intelligence dreamed up in science fiction.The fruit of this work, however, is more immediate. Last week Microsoft announced the startup's AI will generate meeting notes in Teams, its collaboration software, as well as suggest email replies to vendors using its Viva Sales subscription. (Reporting by Jeffrey Dastin; Editing by Matthew Lewis)By Jeffrey Dastin \ No newline at end of file diff --git a/news/GOOGL/2023.02.07/Retail investors flock to small-cap AI firms as Big Tech battles for share.txt b/news/GOOGL/2023.02.07/Retail investors flock to small-cap AI firms as Big Tech battles for share.txt new file mode 100644 index 0000000000000000000000000000000000000000..21bf128f44d369915c540c00c273045e8f4699d6 --- /dev/null +++ b/news/GOOGL/2023.02.07/Retail investors flock to small-cap AI firms as Big Tech battles for share.txt @@ -0,0 +1 @@ +The viral success of ChatGPT has turned the spotlight on AI on Wall Street, reminiscent of the blockchain hype from a few years ago when shares of companies remotely associated with the technology surged. The $3-billion AI software firm C3.ai was the fifth most actively traded on Fidelity's platform for small investors on Monday, while drawing record daily retail inflows worth $31.4 million, as per Vanda Research."Small-cap firms have AI as a much larger part of their business than the larger ones," said Matthew Tuttle, chief executive officer of Tuttle Capital Management on the reason behind retail investors' focus on the smaller firms.Tuttle said he had shorted C3.ai shares about a week ago, but was looking to switch to the long side because "that's where the action is."SoundHound AI, which offers a voice AI platform services, and Thailand's security firm Guardforce AI have more than doubled so far this year, while analytics firm BigBear.ai gained nine-fold in value."We are in a new and exciting AI arms race right now, and speculative investors are clearly trying to find the potential winners in the increasing growing caldron of AI adjacent companies," said Arthur Hogan, chief market strategist at B.Riley Wealth.Shares of Microsoft, which backs ChatGPT parent OpenAI, gained 1.5% in premarket trading ahead of the AI launch later in the day.Google-owner Alphabet Inc on Monday said it would launch a chatbot service Bard and more artificial intelligence for its search engine as well as developers.Microsoft is in a strong position in the AI race due to the combination of its close partnership with OpenAI and its Azure capabilities around compute and data, said Barclays analyst Raimo Lenschow.U.S.-listed shares of Baidu Inc climbed nearly 15% on Tuesday after the Chinese search engine said it would complete internal testing of a ChatGPT-style project called "Ernie Bot" in March. Earlier in the day, a clutch of Chinese AI stocks had also rallied. "There will clearly be winners and losers in the markets current new thing AI, but it will also take some time to ascertain how all these artificial intelligence focused companies plan on monetizing this exciting new technology," Hogan said. (Reporting by Medha Singh in Bengaluru; Editing by Sriraj Kalluvila)By Medha Singh \ No newline at end of file diff --git a/news/GOOGL/2023.02.07/World Press Review: February 7.txt b/news/GOOGL/2023.02.07/World Press Review: February 7.txt new file mode 100644 index 0000000000000000000000000000000000000000..cc3659b4459e26509c45f8c51dd8cd8636e339a6 --- /dev/null +++ b/news/GOOGL/2023.02.07/World Press Review: February 7.txt @@ -0,0 +1,4 @@ + +BP, BNP Paribas, Eurazeo, Santander, Rolls-Royce, Intesa Sanpaolo, Inditex, Siemens Energy, AstraZeneca, Google (Alphabet), Baidu, Bed Bath & Beyond, CVS Health, AMC Entertainment, SoftBank, Nintendo, Mitsubishi Heavy and Siemens gamesa + + diff --git a/news/GOOGL/2023.02.07/Zoom to shed about 1,300 jobs as pandemic-fueled demand slows.txt b/news/GOOGL/2023.02.07/Zoom to shed about 1,300 jobs as pandemic-fueled demand slows.txt new file mode 100644 index 0000000000000000000000000000000000000000..b690fce2c253f8152ed850d7dc27c4124733e4b9 --- /dev/null +++ b/news/GOOGL/2023.02.07/Zoom to shed about 1,300 jobs as pandemic-fueled demand slows.txt @@ -0,0 +1,35 @@ +Feb 7 (Reuters) - Zoom Video Communications Inc +said on Tuesday it would cut about 1,300 jobs, as demand for the +company's video conferencing services slows with the waning of +the pandemic, and take a related charge of up to $68 million.The company's shares, which fell 63% last year amid a rout +in technology shares, closed up 9.9% on the news but were down +marginally in extended trading.While announcing the layoffs, which will hit nearly 15% of +its workforce, Chief Executive Officer Eric Yuan said he would +take a pay cut of 98% for the coming fiscal year and forego his +bonus."We worked tirelessly... but we also made mistakes. We +didn't take as much time as we should have to thoroughly analyze +our teams or assess if we were growing sustainably, toward the +highest priorities," Yuan said.Zoom will incur about $50 million to $68 million in charges +related to the layoffs, according to a regulatory filing on +Tuesday. The company said a substantial part of it will be spent +in the first quarter of fiscal 2024.The company, which became a household name during +lockdowns due to the popularity of its video-conferencing tools, +has seen its revenue growth slow.Analysts are forecasting Zoom's revenue to have risen just +6.7% in fiscal 2022 after a more than four-fold jump in revenue +and a nine-fold surge in profit increase in 2021. Profit is +estimated to have fallen 38% in 2022."I would say incrementally, maybe this is telling us we +shouldn't expect reacceleration in the near-term on the revenue +side, but we could see additional upside to margins for a +company that is already profitable," RBC Capital Markets analyst +Rishi Jaluria said.Zoom had bumped up hiring during the pandemic to meet +surging demand, but now joins U.S. companies in reining in costs +to brace for a potential recession.A raft of U.S. companies from Goldman Sachs Group Inc +to Alphabet Inc have laid off thousands this +year to ride out a demand downturn wrought by high inflation and +rising interest rates.The video conferencing software maker also said that its +executive leadership team will reduce their base salary by 20% +in the same period.Departing employees will receive 16 weeks of salary, +healthcare coverage and a bonus for the year, Yuan said. +(Reporting by Akash Sriram and Samrhitha Arunasalam in +Bengaluru; Additional reporting by Chavi Mehta; Editing by +Shailesh Kuber and Anil D'Silva) \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/Asian shares track Wall Street lower amid chorus of Fed speakers.txt b/news/GOOGL/2023.02.08/Asian shares track Wall Street lower amid chorus of Fed speakers.txt new file mode 100644 index 0000000000000000000000000000000000000000..305782c3395353432e0ee8706ac16e75952ee9ed --- /dev/null +++ b/news/GOOGL/2023.02.08/Asian shares track Wall Street lower amid chorus of Fed speakers.txt @@ -0,0 +1 @@ +MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.3%. Japan's Nikkei also fell 0.3%. China's blue chips eased 0.1%, while Hong Kong's Hang Seng Index was down 0.2%, weighed by a larger fall of 0.7% in tech stocks. On Wednesday, Alphabet Inc shares fell 7.7% after its new AI chatbot Bard delivered an incorrect answer in a promotional video, dragging the S&P 500 and Nasdaq lower by more than 1%. Adding to the cautious mood, Federal Reserve officials said more interest rate rises are on the cards as the U.S. central bank moves ahead with efforts to control inflation. None hinted though that January's strong jobs report could drive more aggressive policy actions."Now that inflation has passed its peak and many central banks have begun to slow the pace of policy tightening, markets are back to scouring their communications for evidence of what's to come," said Jennifer McKeown, chief global economist at Capital Economics."But despite the strong push for transparency over the past two decades, central banks are struggling to convey the right message with conflicting data adding to confusion about the inflation outlook in a post-pandemic world."On Wednesday, New York Fed President John Williams said moving to a federal funds rate of between 5.00% and 5.25% "seems a very reasonable view of what we'll need to do this year in order to get the supply and demand imbalances down."Governor Christopher Waller said the battle to reach the Fed's 2% inflation target "might be a long fight". But Governor Lisa Cook said the big job gains in January with moderating wage growth increased hopes of a "soft landing".U.S. Treasury Secretary Janet Yellen said that while inflation remained elevated, there were encouraging signs that supply-demand mismatches were easing in many sectors of the economy.The bond market rallied a little after being caught wrongfooted by the January blockbuster U.S. jobs report, forcing many to reposition for a higher peak in the Fed funds rate.The two-year Treasury yield, which rises with traders' expectations of higher Fed fund rates, eased 2 basis points to 4.4375% on Thursday, while the yield on benchmark 10-year Treasury notes slid 5 basis points to 3.6012%. Futures are pricing in the Fed's target rate to peak at 5.132% in July, about 25 basis points higher than last week, and that by December it will have declined to 4.813%, a jump of about 40 basis points since a week ago.In the currency markets, movements were rather muted. The dollar index held close to a 1-month high at 103.45 against major peers, after last week's stunning jobs and services data. In the oil market, Brent crude futures eased 0.2% to $84.90 while U.S. West Texas Intermediate (WTI) crude also settled 0.1% lower at $78.36.Gold was slightly lower. Spot gold traded at $1,872.48 per ounce. (Reporting by Stella Qiu; Editing by Jacqueline Wong)By Stella Qiu \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/BNPL lender Affirm to cut about 19% of its workforce.txt b/news/GOOGL/2023.02.08/BNPL lender Affirm to cut about 19% of its workforce.txt new file mode 100644 index 0000000000000000000000000000000000000000..ba93a6b66ca5e64147b7894ae3bc69cd3eb0325a --- /dev/null +++ b/news/GOOGL/2023.02.08/BNPL lender Affirm to cut about 19% of its workforce.txt @@ -0,0 +1 @@ +"Growing rapidly over the last few years, and especially through the pandemic, we hired ahead of the revenue required to support the size of the team," Affirm's Chief Executive Max Levchin wrote in a letter to shareholders.BNPL services, which allow consumers to split purchase payments into installments, exploded in popularity as Americans turned to online shopping during the pandemic.The sector has lately been under pressure due to rising funding costs and lower consumer spending during soaring inflation.Affirm's move follows those by several U.S. companies, including Goldman Sachs Group Inc and Alphabet Inc, which are laying off thousands of employees this year amid higher costs and a looming recession.The company, which was founded in 2012, also said that it would sunset several initiatives such as Affirm Crypto. San Francisco, California-based Affirm expects to incur about $35 million to $39 million in total restructuring costs. (Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh Kuber) \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/Can I use ChatGPT and other AI bots without consequence?.txt b/news/GOOGL/2023.02.08/Can I use ChatGPT and other AI bots without consequence?.txt new file mode 100644 index 0000000000000000000000000000000000000000..3c354e2c5200e3e895ed85fb5e7c95b6cfcb0499 --- /dev/null +++ b/news/GOOGL/2023.02.08/Can I use ChatGPT and other AI bots without consequence?.txt @@ -0,0 +1,19 @@ +"Artificial intelligence is one of the most profound things we're working on as humanity. It is more profound than fire or electricity."- Sundar Pichai, CEO Alphabet Inc. and Google"We're at the beginning of a golden age of AI."- Jeff Bezos, Founder and Executive Chairman of Amazon"Artificial intelligence is the new electricity."- Andrew Ng, Co-founder of Google BrainArtificial Intelligence (AI) is a rapidly evolving facet of modern technology that has already had a significant impact on the way that we live our lives. Its use is already present in a number of industries, such as retail, healthcare, finance and even law. AI models have been created for a whole host of applications: systems that can generate images; those that write complex software code; and even write songs and melodies based on input provided by users. The applications for AI systems seem endless, and there is no end to this innovation in sight. Despite this, no other AI bot in recent memory has garnered quite as much attention and widespread use as ChatGPT, having reportedly amassed more than one million registered users within one month of release.1ChatGPT is a large language AI model that was reportedly trained on a large amount of data, and as a result is able to generate human-like responses to prompts by users. It can write you a poem, or an article on string theory, and do so in a way that makes it nearly indistinguishable from human works. When asked to introduce itself, ChatGPT's response was:"I am ChatGPT, a language model developed by OpenAI. I am trained to understand and generate human language in order to assist with a wide range of tasks, such as answering questions, generating text, and more. I am here to help with any questions or information you may need".While this new technology and its potential applications are incredibly exciting, it also presents a number of novel issues, both ethically and legally that will need to be considered in the coming years with further development and use. Questions such as:Amongst these issues, and perhaps the question that you might be asking is, can I use ChatGPT, and if so, what consequences might I face?The answer to this question is, as with most things, it depends. There are a number of factors you should consider before using AI to create content or use that content. +If you are looking to use ChatGPT to write an article for you, it is important to consider whether you will actually be the author of that work, and by extension whether you actually own it or have the rights to use it.The question of ownership of AI generated works has not been extensively considered in Australia. The current position is that AI, as something that is not a natural person or a citizen of Australia, is unable to own copyright.2 Further than this, the law in Australia may not yet be sufficiently developed to deal with the issue of ownership and copyright over AI generated content beyond the confines of current copyright law.Could an argument be made that the person who directs the AI with the input is the owner? Possibly. There are certainly some examples of this occurring in everyday life. Phone cameras, for example, utilise some AI technology when taking photos to assist the user. Despite this, it is the person who has taken the photo that would own the copyright. The important distinction between this, and having ChatGPT write you an entire adventure novel, is that the phone AI is simply assisting in the creation of the content, being the photo. ChatGPT and other AI language models like it, essentially do the work for you, with very little input required from the human. As such, it may be difficult to argue that they are the same.While there have been some significant cases in recent years considering this specific topic, Australia has yet to catch up. Despite this, the ownership of AI generated content will no doubt be a hot topic in legislature and the courts in the years to come.For now though, it is important to consider if the AI is being used under any specific service agreements, or terms and conditions, and if so what those say regarding the ownership of the content. If you are at all unsure, you should seek legal advice prior to attempting to claim ownership or use any AI generated content for commercial purposes. +Possibly. If you choose to submit an article written by ChatGPT to your university or school claiming that it is your own work, you are more than likely engaging in academic misconduct, among other things. This is an issue that educational institutions are facing all over the world right now, with some turning to more in class or in person assessment pieces to combat the use of AI to complete homework. A number of schools have reportedly banned the use of ChatGPT on their servers and computers, with some even threatening immediate expulsion should students be caught using the AI.3There are a number of programs that have been released already that claim to be able to detect the use of AI in drafting a piece of text, however their effectiveness and application in this context remains untested.4 +Once again, possibly. One of the major issues that has arisen since the release and widespread use of ChatGPT is the ownership of copyright over the content that the bot was trained on. If the AI was trained using content protected by copyright or content subject to licensing terms such as creative commons, and has subsequently reproduced or adapted this content for the user to distribute or use however they wish, is the user then infringing copyright without authority of the true owner? The answer may well be yes however the usual rules around copyright infringement would apply as no special rules apply for ChatGPT. However, how to do you know if you are infringing if you don't know what content has been used to train the AI bot in the first place?There has already been movement in US Courts regarding this issue, with actions being brought against the developers/owners of AI systems for copyright infringement, or similar actions involving copyrighted work. One example comes from the recent action by GitHub, an open-source code repository, against OpenAI and Microsoft regarding the AI program Copilot, which assists users by providing code.5 It is claimed that some of the source-code used by Copilot came from GitHub, and is protected by copyright. No doubt, this is just the tip of the iceberg in terms of the legal action to come on this particular issue. +What makes ChatGPT so impressive, is its unprecedented ability to write in a way that is barely indistinguishable from human writing. To achieve this, the AI was allegedly trained on billions and billions of words pulled from the internet (and possibly elsewhere) and curated by OpenAI employees and contractors. The problem that this method posed, was how to weed out any potentially harmful, explicit or inappropriate content, or content that is simply incorrect. Allegations are now being put forth that OpenAI outsourced much of the work in finding and labelling inappropriate or unwanted content to a firm in Kenya, where their employees were to troll through thousands and thousands of excerpts of this 'bad' text.6 It is reported that some employees were tasked with viewing horrific material, including descriptions of murder, self-harm, torture, and child sexual abuse, and were only paid between $1 and $2 per hour to do so. Claims have been made that these workers were not afforded adequate counselling or psychological support either.These allegations draw attention to the fact that the advancement of technologies such as this may have been achieved via the use (and possibly misuse) of an enormous amount of human labour. This is a serious issue, that if such allegations prove truthful needs to be addressed by the developers, distributers and even users of these systems. +ChatGPT does not currently provide citations for the information that it delivers to you, so how do you know if the information is accurate? The answer is, you don't. We have not, as of yet, been given access to the databank used to train ChatGPT or the proximal policy optimisation model used to fine tune the AI trainer's rankings, so it is impossible to verify how correct it's output really is. Additionally, the AI's knowledge base is current no later than 2021 (although that is likely to change shortly), so if you were to ask it a question that involves an event since then, it may not hold any answer, let alone the correct one. As such, there is no guarantee whatsoever that the output you are getting from ChatGPT, as acknowledged by OpenAI, is truthful or accurate.It is important to note that ChatGPT is a powerful language prediction device, not an AI knowledge bank. It uses language patterns to predict and put together words and sentences, but it does not actually hold knowledge per say. So, while the language and text it is trained on might contain the correct knowledge, it might equally be incorrect.7 It is also prone to producing answers that may sound accurate, even if they are not. +We asked ChatGPT what it thought users should be mindful of when using it or other AI's like it to create content, and it provided the below response:"When using ChatGPT or other large language AI models to create content, you should consider the following ethical considerations:By being aware of these considerations and taking steps to address them, you can use AI models like ChatGPT ethically and responsibly".It may be informative for the readers of this article to pose similar questions to ChatGPT by going to ChatGPT: Optimizing Language Models for Dialogue (openai.com) and registering for an account. +With the widespread release of ChatGPT we are entering into uncharted territory. The issues brought about by AI generated content have not yet been widely considered, and as such the relevant legal rules and principals that will eventually govern them do not yet fully exist. Countries all over the world are currently in the process of considering and even creating specific legislation on these issues. Practically speaking, how does this apply to you? If you intend to use AI, or creations realised through or by AI, then it is important that you first evaluate the current laws and regulations surrounding copyright ownership and AI in the relevant jurisdiction to ensure that you can effectively protect any Intellectual Property you may hold in this content.Footnotes1 As reported by DMR at https://expandedramblings.com/index.php/chatgpt/.2 s 32 Copyright Act 1968 (Cth).3 Here are the schools and colleges that have banned the use of ChatGPT over plagiarism and misinformation fears (msn.com).4 Cheaters beware: ChatGPT releases AI detection tool to catch cheaters in schools and universities (firstpost.com).5 Doe v. GitHub, 22 Civ. 6823 (N.D. Cal. Nov. 10, 2022).6 OpenAI Used Kenyan Workers on Less Than $2 Per Hour: Exclusive | Time7 OpenAI states on the ChatGPT: Optimizing Language Models for Dialogue (openai.com) website that "ChatGPT sometimes writes plausible-sounding but incorrect or nonsensical answers" and "WEhile we've made efforts to make the model refuse inappropriate requests, it will sometimes respond to harmful instructions or exhibit biased behavior".The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. +Mr Michael Finney +Bennett & Philp Lawyers +Level 13, 15 Adelaide St +Brisbane +4000 +AUSTRALIA +Tel: 73001 2999 +Fax: 73001 2989 +E-mail: MEvans@bennettphilp.com.au +URL: www.bennettphilp.com.au +© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/Google AI chatbot BARD offers inaccurate information in company ad.txt b/news/GOOGL/2023.02.08/Google AI chatbot BARD offers inaccurate information in company ad.txt new file mode 100644 index 0000000000000000000000000000000000000000..620274ed2d54bdb0e1ab32046ece72d74b623f30 --- /dev/null +++ b/news/GOOGL/2023.02.08/Google AI chatbot BARD offers inaccurate information in company ad.txt @@ -0,0 +1 @@ +The tech giant posted a short GIF video of BARD in action via Twitter, describing the chatbot as a "launchpad for curiosity" that would help simplify complex topics. In the advertisement, BARD is given the prompt: "What new discoveries from the James Webb Space Telescope (JWST) can I tell my 9-year old about?" BARD responds with a number of answers, including one suggesting the JWST was used to take the very first pictures of a planet outside the Earth's solar system, or exoplanets. This is inaccurate.The first pictures of exoplanets were taken by the European Southern Observatory's Very Large Telescope (VLT) in 2004, as confirmed by NASA.Google did not immediately respond to a request for comment. It announced the launch of Bard on Monday. At the time of writing, the ad had been viewed on Twitter more than 880,000 times. (Reporting by Martin Coulter; Editing by Emelia Sithole-Matarise)By Martin Coulter \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/Google AI chatbot Bard flubs an answer in ad.txt b/news/GOOGL/2023.02.08/Google AI chatbot Bard flubs an answer in ad.txt new file mode 100644 index 0000000000000000000000000000000000000000..abf8341520916464b62b062660048a77f960f8e9 --- /dev/null +++ b/news/GOOGL/2023.02.08/Google AI chatbot Bard flubs an answer in ad.txt @@ -0,0 +1 @@ +Introduced this week, Bard was touted in an online ad by Google that ran in the company's Twitter feed.In the tweet, Google described the chatbot as a "launchpad for curiosity" that would help simplify complex topics - and included a short GIF video ad of Bard in action.In the ad, Bard is given the prompt: "What new discoveries from the James Webb Space Telescope (or JWST), can I tell my 9-year old about?"Bard responds with a number of answers, including one suggesting the JWST was used to take the very first pictures of a planet outside the Earth's solar system, or exoplanets.This is inaccurate.The first pictures of exoplanets were taken by the European Southern Observatory's Very Large Telescope in 2004, as confirmed by NASA. The error was spotted hours before Google hosted a launch event for Bard in Paris, where a Google senior executive touted Bard as the future of the company.Google's launch event came one day after Microsoft unveiled plans to integrate its rival AI chatbot ChatGPT into its Bing search engine and other products.As for Bard's mistake, a Google spokesperson told Reuters (quote): "This highlights the importance of a rigorous testing process, something that we're kicking off this week..." so that (quote) "Bard's responses meet a high bar for quality, safety and groundedness in real-world information."Shares of Google parent Alphabet were down more than 7% in early trading Wednesday, outpacing declines in the broader S&P 500. \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/Google says to soon add generative AI features in search results.txt b/news/GOOGL/2023.02.08/Google says to soon add generative AI features in search results.txt new file mode 100644 index 0000000000000000000000000000000000000000..76b7072ab5072b7c3564f554a3682f55184d9f5c --- /dev/null +++ b/news/GOOGL/2023.02.08/Google says to soon add generative AI features in search results.txt @@ -0,0 +1 @@ +The company on Monday unveiled its chatbot service called Bard and plans to add AI features to its search engine, as it seeks to answer Microsoft's challenge to its ads business through its wildly popular AI chatbot ChatGPT. (Reporting by Supantha Mukherjee in Stockholm and Martin Coulter in London; editing by Jason Neely) \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/Google to beef up search with AI, setting stage for showdown with Bing.txt b/news/GOOGL/2023.02.08/Google to beef up search with AI, setting stage for showdown with Bing.txt new file mode 100644 index 0000000000000000000000000000000000000000..9909181c0e84e0c5bc20ffd2af0a24b02c8fb660 --- /dev/null +++ b/news/GOOGL/2023.02.08/Google to beef up search with AI, setting stage for showdown with Bing.txt @@ -0,0 +1,30 @@ +(Repeats to remove erroneous text in bullet points)*Says AI to enable user interaction in "entirely new ways"*Highlights Maps, indoor views, image search and +translation*Second AI announcement this week*Rival Microsoft also using AI to enhance search*Alphabet shares down 7.8%STOCKHOLM/LONDON, Feb 8 (Reuters) - Alphabet's +Google on Wednesday said it will enhance search results with +generative AI features, in its latest salvo against Microsoft +which laid out plans a day earlier to improve its rival +search engine Bing.Microsoft is hoping new features can revive its Bing +platform and take a shot at Google's dominance of online search +which drives a lucrative ad business earning $100 billion in +sales last year.Adding generative AI to search results will create text or +visual responses to prompts and enable users to interact with +information in "entirely new ways", Google said."As we continue to bring generative AI technologies into our +products, the only limit to search will be your imagination," +Google's senior vice present Prabhakar Raghavan said at an event +in Paris.It was Google's second announcement this week. On Monday it +unveiled its chatbot service Bard, but the launch has faced +hiccups as Google's own online ad showed BARD delivering +inaccurate answers.Analysts said Google will be hoping it can prevent users +switching to rival Bing.San Francisco-based OpenAI, backed by Microsoft, opened up +its ChatGPT chatbot for free public testing in November. It +surged in popularity within days and Microsoft now plans to use +the technology to power its Bing search engine.Google's ad business is Alphabet's biggest earner, +accounting for about 80% of the company's annual revenue.Microsoft said it expects every percentage point of market +share it gains will bring in another $2 billion in search +advertising revenue.As the use of artificial intelligence picks up, the European +Union is gearing up to regulate it, through its AI Act.Apart from search, Google also showcased a bunch of +improvements to Maps, indoor views, image search and translation +-- all using artificial intelligence in some form."AI is also making it far more natural to make sense of and +explore the real world," Raghavan said. +(Reporting by Supantha Mukherjee in Stockholm and Martin +Coulter in London;Editing by Mark Potter and Elaine Hardcastle) \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/Google's AI 'hiccup' doesn't warrant selloff -portfolio manager.txt b/news/GOOGL/2023.02.08/Google's AI 'hiccup' doesn't warrant selloff -portfolio manager.txt new file mode 100644 index 0000000000000000000000000000000000000000..e68724a74deb9eee06d85ca85ee394e6b97e996c --- /dev/null +++ b/news/GOOGL/2023.02.08/Google's AI 'hiccup' doesn't warrant selloff -portfolio manager.txt @@ -0,0 +1 @@ +Google has been on its heels after OpenAI, a startup Microsoft is backing with around $10 billion, introduced software in November that has wowed consumers and become a fixation in Silicon Valley circles for its surprisingly accurate and well-written answers to simple prompts. \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/New York Times beats quarterly revenue estimates.txt b/news/GOOGL/2023.02.08/New York Times beats quarterly revenue estimates.txt new file mode 100644 index 0000000000000000000000000000000000000000..f2b1a1fcc2c7f4dd620e4d4d74347be4e2546f58 --- /dev/null +++ b/news/GOOGL/2023.02.08/New York Times beats quarterly revenue estimates.txt @@ -0,0 +1 @@ +The publisher reported revenue of $667.5 million in the fourth quarter, compared with analysts' estimates of $646.4 million, according to Refinitiv data. (Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shounak Dasgupta) \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/U.S. Treasury urges financial firms to examine cloud services.txt b/news/GOOGL/2023.02.08/U.S. Treasury urges financial firms to examine cloud services.txt new file mode 100644 index 0000000000000000000000000000000000000000..1c8b92a192e600266e3b04e91417bd6c8c54cf46 --- /dev/null +++ b/news/GOOGL/2023.02.08/U.S. Treasury urges financial firms to examine cloud services.txt @@ -0,0 +1,37 @@ +WASHINGTON, Feb 8 (Reuters) - U.S. Treasury Department +officials highlighted several challenges facing financial firms +that are increasingly turning to cloud computing services to +support a range of their activities, warning in a report on +Wednesday that failure to address them could leave lingering +vulnerabilities.The risk was particularly acute for small and medium-sized +financial institutions, the department said.Deputy Secretary of the Treasury Wally Adeyemo said while +"there is no question that providing consumers with secure and +reliable financial services means greater demand for cloud-based +technologies,” there needed to be "safe and effective migration" +as banks and other financial companies adopt cloud services."Treasury found that cloud services could help financial +institutions become more resilient and secure, but that there +were some significant challenges that could detract from these +benefits," department officials wrote in their report assessing +current cloud adoption in the financial industry.Those issues include financial firms' exposure to potential +cyber incidents, an industry-wide reliance on a small number of +cloud providers and a lack of technology workers able to help +financial institutions deploy cloud services, among other +challenges, department officials said.The report also noted that the patchwork global rules made +it "nearly impossible" for larger firms to consistently adopt +cloud systems globally.For example, financial firms and cloud service providers +in the European Union are facing stricter rules, and will need +to show how quickly they could recover from a cyber attack under +a law due to take effect at the end of 2024.Treasury officials recommended steps that could help the +sector adopt cloud computing, adding that it "neither endorses +nor discourages cloud service adoption by the sector."The banking industry was generally supportive of the report. +The Bank Policy Institute, which represents larger banks, said +in a statement it welcomed collaboration with government +officials on bolstering cloud adoption and addressing risks.The department was establishing a working group to address +the challenges raised in the report and said it would work with +U.S. financial regulators, the industry and international +partners to address the risks.Technology companies that provide cloud computing services +include Amazon Inc's Amazon Web Services, Alphabet +Inc's Google, Microsoft Corp and Oracle Corp +. +(Reporting by Susan Heavey and Pete Schroeder +Editing by Bernadette Baum and Marguerita Choy) \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/Wall St eases after recent strong gains, Alphabet shares fall.txt b/news/GOOGL/2023.02.08/Wall St eases after recent strong gains, Alphabet shares fall.txt new file mode 100644 index 0000000000000000000000000000000000000000..b09d67f4abfebcf45b0a74f64601168485f923fc --- /dev/null +++ b/news/GOOGL/2023.02.08/Wall St eases after recent strong gains, Alphabet shares fall.txt @@ -0,0 +1,41 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Alphabet shares dive after Google AI chatbot Bard flubs +answer*Microsoft climbs on AI integration*CVS Health rises on offer to buy Oak Street*Indexes down: Dow 0.5%, S&P 500 1%, Nasdaq 1.5%NEW YORK, Feb 8 (Reuters) - U.S. stocks were down in +afternoon trading on Wednesday, paring some of the strong gains +in the previous session, with tech-focused shares leading the +way lower.Alphabet shares were down about 8% after its new +AI chatbot Bard delivered an incorrect answer in an online +advertisement.Among the day's Federal Reserve speakers, Fed Governor +Christopher Waller said inflation seems poised to continue +slowing this year but the U.S. central bank's battle to reach +its 2% target "might be a long fight" with monetary policy kept +tighter for longer than anticipated.Stocks rallied on Tuesday following Fed Chair Jerome +Powell's session before the Economic Club of Washington, where +he said interest rates might need to move higher than expected +if the U.S. economy remained strong, but said he felt a process +of "disinflation" is under way.Investors have been concerned about how aggressive the Fed's +actions may be this year following Friday's surprisingly strong +U.S. jobs report.They have also been concerned about mixed reports from U.S. +companies this earnings season. With results in from more than +half of the S&P 500 companies, earnings still are expected to +have declined year-over-year in the fourth quarter of 2022, +according to IBES data from Refinitiv."After this kind of run and a move to a valuation certainly +in the richer camp, you need to have more evidence to keep the +market climbing higher," said Quincy Krosby, chief global +strategist at LPL Financial in Charlotte, North Carolina.The Dow Jones Industrial Average fell 157.71 points, +or 0.46%, to 33,998.98, the S&P 500 lost 41.4 points, or +0.99%, to 4,122.6 and the Nasdaq Composite dropped +182.63 points, or 1.51%, to 11,931.16.Shares of entertainment company Walt Disney were +nearly flat ahead of its quarterly results due after the closing +bell. +Microsoft Corp shares were up 0.5% after it said it +was revamping its Bing search engine and Edge Web browser with +artificial intelligence.Investors also were digesting comments from President Joe +Biden late Tuesday at the State of the Union address, supporting +calls to tax corporate share buybacks.CVS Health Corp were up 4.6% after its $9.5 billion +cash buyout offer for Oak Street Health Inc. Oak Street +Health rose 4.9%.Declining issues outnumbered advancing ones on the NYSE by a +2.11-to-1 ratio; on Nasdaq, a 2.25-to-1 ratio favored decliners.The S&P 500 posted 11 new 52-week highs and two new lows; +the Nasdaq Composite recorded 69 new highs and 30 new lows. +(Additional reporting by Johann M Cherian, Shubham Batra and +Shreyashi Sanyal in Bengaluru; Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/Wall St ends lower after recent strong gains, Alphabet shares sink.txt b/news/GOOGL/2023.02.08/Wall St ends lower after recent strong gains, Alphabet shares sink.txt new file mode 100644 index 0000000000000000000000000000000000000000..3963b799c57c20b604d40b41c79946bf14e793bd --- /dev/null +++ b/news/GOOGL/2023.02.08/Wall St ends lower after recent strong gains, Alphabet shares sink.txt @@ -0,0 +1,39 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Alphabet shares dive after Google AI chatbot Bard flubs +answer*Investors digest comments from Fed officials*CVS Health rises on offer to buy Oak StreetNEW YORK, Feb 8 (Reuters) - U.S. stocks ended down on +Wednesday, paring most of the strong gains of the previous +session, with tech-focused shares leading the way lower.The biggest drag on the S&P 500 and Nasdaq was Alphabet +, whose shares dropped after its new AI chatbot Bard +delivered an incorrect answer in an online advertisement.Adding to the downbeat mood in stocks, Federal Reserve +officials on Wednesday said more interest rate rises are in the +cards as the U.S. central bank moves ahead with efforts to +control inflation.Fed Governor Christopher Waller said inflation seems +poised to continue slowing this year but the U.S. central bank's +battle to reach its 2% target "might be a long fight" with +monetary policy kept tighter for longer than anticipated.Stocks rallied on Tuesday following Fed Chair Jerome +Powell's session before the Economic Club of Washington, where +he said interest rates might need to move higher than expected +if the U.S. economy remained strong, but said he felt a process +of "disinflation" is under way."After this kind of run and a move to a valuation certainly +in the richer camp, you need to have more evidence to keep the +market climbing higher," said Quincy Krosby, chief global +strategist at LPL Financial in Charlotte, North Carolina.The Nasdaq remains up about 14% for the year to date.According to preliminary data, the S&P 500 +lost 45.50 points, or 1.11%, to end at 4,117.91 points, +while the Nasdaq Composite lost 201.60 points, or 1.66%, +to 11,912.19. The Dow Jones Industrial Average +fell 202.51 points, or 0.59%, to 33,954.18.Investors have been concerned about how aggressive the Fed's +actions may be this year following Friday's surprisingly strong +U.S. jobs report.They have also been concerned about mixed reports from U.S. +companies this earnings season. With results in from more than +half of the S&P 500 companies, earnings still are expected to +have declined year-over-year in the fourth quarter of 2022, +according to IBES data from Refinitiv.Shares of entertainment company Walt Disney were +little changed ahead of its quarterly results due after the +closing bell.Investors also were digesting comments from President Joe +Biden late Tuesday at the State of the Union address, supporting +calls to tax corporate share buybacks.CVS Health Corp were up after its $9.5 billion cash +buyout offer for Oak Street Health Inc. Oak Street +Health shares also rose. +(Reporting by Caroline Valetkevitch in New York; additional +reporting by Johann M Cherian, Shubham Batra and Shreyashi +Sanyal in Bengaluru; Editing by Marguerita Choy) \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/Wall St falls as policymakers' comments fan rate hike worries; Alphabet slumps.txt b/news/GOOGL/2023.02.08/Wall St falls as policymakers' comments fan rate hike worries; Alphabet slumps.txt new file mode 100644 index 0000000000000000000000000000000000000000..e9823ed95b4be2db745f638190553a2ef63c0871 --- /dev/null +++ b/news/GOOGL/2023.02.08/Wall St falls as policymakers' comments fan rate hike worries; Alphabet slumps.txt @@ -0,0 +1,43 @@ +(For a Reuters live blog on U.S., UK and European stock +markets, click or type LIVE/ in a news window.)*Alphabet hauls S&P 500, Nasdaq lower*Microsoft climbs on AI integration*CVS Health rises on offer to buy Oak Street*Indexes down: Dow 0.51%, S&P 1.02%, Nasdaq 1.55%Feb 8 (Reuters) - Wall Street's main stock indexes +slipped on Wednesday as comments from Federal Reserve officials +intensified worries over the central bank's rate hike path, +while Alphabet slumped on a disappointing debut of its +much-awaited AI chatbot.New York Federal Reserve President John Williams backed +views of a peak rate of 5.00%-5.25%, higher than what markets +expect, a day after Fed Chair Jerome Powell acknowledged that +the battle against inflation will take quite a bit of time.Money market participants are now betting the Fed's +benchmark rate to rise above 5% in May before peaking to 5.16% +by July, levels that officials have backed vociferously.Fed Governor Lisa Cook said the U.S. central bank is not yet +done raising rates and even though inflation has shown signs of +moderation, the economy is still running too hot."If you get somebody like John Williams and another +prominent Fed governor speaking again this morning, at some +point the markets are going to listen," said John Lynch, chief +investment officer at Comerica Bank.The comments come after a strong jobs report on Friday +frustrated investors hoping for rate cuts later this year, and +could test a solid start for markets following last year's +battering."The market's view is that the Fed may cut rates, but only +by 25 basis points at the end of the year, and the Fed is still +signaling they won't make any cuts this year," said Art Hogan, +chief market strategist at B Riley Wealth in Boston.In a bright spot, Microsoft Corp edged up 0.5% +after the tech giant said it was revamping its Bing search +engine and Edge Web browser with artificial intelligence.Meanwhile, AI rival Alphabet Inc tumbled 7.9% +after its AI chatbot Bard delivered an incorrect answer in an +online advertisement.At 12:39 p.m. ET, the Dow Jones Industrial Average +was down 173.23 points, or 0.51%, at 33,983.46, the S&P 500 +was down 42.42 points, or 1.02%, at 4,121.58, and the +Nasdaq Composite was down 187.22 points, or 1.55%, at +11,926.56.All of the 11 major S&P 500 sectors declined, with +communication services plunging 4.3%.President Joe Biden's comments at the State of the Union +address on Tuesday evening that supported calls to tax corporate +share buybacks also weighed on sentiment.Of all the S&P 500 companies that have reported quarterly +earnings, 69% of them have beaten expectations, according to +Refinitiv. Still, analysts expect quarterly earnings to decline +2.9%.CVS Health Corp surged 4.7% on its $9.5 billion cash +buyout offer for Oak Street Health Inc. Oak Street +Health rose 4.5%.Declining issues outnumbered advancers for a 2.41-to-1 ratio +on the NYSE and for a 2.42-to-1 ratio on the Nasdaq.The S&P index recorded nine new 52-week highs and two new +lows, while the Nasdaq recorded 63 new highs and 27 new lows. +(Reporting by Johann M Cherian, Shubham Batra and Shreyashi +Sanyal in Bengaluru; Editing by Shounak Dasgupta and Sriraj +Kalluvila) \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/Wall St. ends lower, Alphabet weighs after AI flub.txt b/news/GOOGL/2023.02.08/Wall St. ends lower, Alphabet weighs after AI flub.txt new file mode 100644 index 0000000000000000000000000000000000000000..ffb57b67d85992bfa2f7d4a2638441eee5f2da2d --- /dev/null +++ b/news/GOOGL/2023.02.08/Wall St. ends lower, Alphabet weighs after AI flub.txt @@ -0,0 +1 @@ +The Dow dropped six-tenths of a percent, the S&P shed 1.1% and the Nasdaq lost 1.7%.The biggest drag on the S&P 500 and the Nasdaq was Google parent Alphabet, whose shares dropped nearly 8% after its new AI chatbot Bard delivered an incorrect answer in an online ad - and as a result, wiped away more $100 billion in Alphabet's market cap.While Google appeared eager to introduce its answer to the Microsoft-backed, explosively popular ChatGPT, Tyler Ellegard, portfolio manager at Gradient Investments, says investors overreacted to Bard's flub."Obviously, it wasn't ready. The rush was unwarranted. But I think the hiccup, you know, the stock being down - sure that would be warranted, but being down 8-9%, I don't think that's justified at this point [FLASH] and we would actually be buyers here, given this pullback that we've seen today."Adding to the cautious mood on Wall Street, Federal Reserve officials on Wednesday said more interest rate hikes are in the cards as the U.S. central bank moves ahead with efforts to control inflation.Noteworthy movers included shares of CVS Health, which ended the session up 3.5% after its making $9.5 billion cash buyout offer for Oak Street Health, which rose 4.6%.In after-hours trading, shares of Walt Disney were up almost 9% following the release of its quarterly results - in which the entertainment company said it will lay off 7,000 employees as part of a sweeping restructuring effort. \ No newline at end of file diff --git a/news/GOOGL/2023.02.08/What we know and don't know about the Chinese balloon.txt b/news/GOOGL/2023.02.08/What we know and don't know about the Chinese balloon.txt new file mode 100644 index 0000000000000000000000000000000000000000..a95c3f2d8dd5832ba2b955a59374338213874772 --- /dev/null +++ b/news/GOOGL/2023.02.08/What we know and don't know about the Chinese balloon.txt @@ -0,0 +1 @@ +More is likely to be learned about the balloon after the U.S. military recovers its remnants from the ocean off the coast of South Carolina. Here's what we know, and don't know, about the balloon that has triggered a dramatic diplomatic dispute between the two powers:HOW BIG IS IT?The head of North American Aerospace Defence Command, General Glen VanHerck, described the balloon as being 200 feet (61 metres) high, with a surveillance payload the size of a regional passenger jet that likely weighed in excess of a couple thousand pounds. Civilians viewing the balloon from the ground described it as a giant white orb as it floated about 60,000 feet (18,300 meters) above the central United States, an altitude roughly twice that of civilian air traffic.U.S. officials said they had been tracking the high-altitude for some time and that it drifted over the United States for at least seven days. WHAT HAS CHINA SAID?China's foreign ministry said the balloon was mainly used for meteorological purposes and had limited self-steering ability. It said it was affected by the weather and unexpectedly drifted into U.S. airspace. The ministry has also said it has no information to share about what company or entity owns the balloon.WAS IT A WEATHER BALLOON?Kaymont, a U.S. firm that makes and distributes weather balloons globally, said the size, payload and flight time exceeded the capabilities of typical weather balloons that are made of latex. "A typical weather forecasting balloon will have a lightweight radiosonde payload that is about 200 grams in weight. The balloon at release will be about 1.4 metres and will burst around 6 metres in diameter, and the flight time will be between 90-120 minutes," Jesse Geffen, a Kaymont account manager, told Reuters. "Photographic payloads (high altitude photography and videography) may be carried by larger balloons, but wouldn't even be a third of the size of the balloon that flew over the country." In China, the manufacture of weather balloons is dominated by a subsidiary of state chemical giant ChemChina, Zhuzhou R&D Institute for Rubber & Plastics (Zhuzhou Rubber), which makes 75% of high-altitude balloons used by the China Meteorological Administration, the country's regulator of state-owned firms said in a statement last year. Smaller players include Guangzhou Double-One Weather Equipment Company, whose company's chairman Lin Xiuping told Reuters that her firm and Zhuzhou Rubber were capable of making balloons that could fly at the height the Chinese balloon was flying at over the United States. She said, however, that Guangzhou Double-One was not the manufacturer of that balloon. An employee that answered the phone at Zhuzhou Rubber's headquarters said the U.S. balloon had nothing to do with the company and declined to accept further questions. SO WHAT KIND OF BALLOON IS IT?Kaymont said the balloon was likely made of plastic film, not latex. Some descriptions thus far of the balloon debris being retrieved from the Atlantic Ocean say that there has been plastic. By looks and by size, it resembles balloons made by U.S. firm Aerostar, whose own balloon was mistaken for the Chinese one while flying over Memphis. Aerostar is an aerospace and defence contractor that supplies stratospheric balloons to the likes of National Aeronautics and Space Administration (NASA) made out of polyethylene film that can fly for over 200 days and carry hundreds of pounds. It also previously had a deal with Google to use such balloons to provide internet to rural areas. Other companies that develop stratospheric balloon systems include U.S. space tourism firm World View and French firm CNIM Air Space. China does not appear to have a private company equivalent, but the official Chinese Academy of Sciences' Aerospace Information Research Institute (AIR) and Institute of Optoelectronics have both conducted significant research on stratospheric balloons and published accounts of launches. In 2017, for example, the Institute of Optoelectronics announced it had successfully flown a "super pressure" balloon it had developed in Inner Mongolia, describing it as having a volume of 7,000 cubic meters and able to carry 150 kilograms.Last September, China's AIR announced the successful trial of a balloon that can reach heights of 30 km and carry up to 1.2 tonnes as part of a project for developing near-space technologies. AIR is particularly keen on stratospheric balloon technology and has posted several articles on its WeChat account about Aerostar. Reuters was not able to immediately establish what firms supply AIR or the Institute of Optoelectronics with their balloons. Both institutes did not respond to requests for comment.Chinese military researchers have recently argued in publicly-available papers that balloons and airships should be further developed and deployed across a range of missions, Reuters reported on Monday.While analysts did not yet know the size of the Chinese balloon fleet, U.S. officials have spoken of dozens of missions since 2018 across five continents, with some targeting Japan, India, Vietnam, Taiwan and the Philippines. (Reporting by Brenda Goh, Albee Zhang and Eduardo Baptista; Additional reporting by Shanghai Newsroom; Editing by Kim Coghill) \ No newline at end of file diff --git a/news/GOOGL/2023.02.09/Alphabet A : Receives a Buy rating from JP Morgan.txt b/news/GOOGL/2023.02.09/Alphabet A : Receives a Buy rating from JP Morgan.txt new file mode 100644 index 0000000000000000000000000000000000000000..d5bfa44d4e8405f78504991fc7b68884480409b1 --- /dev/null +++ b/news/GOOGL/2023.02.09/Alphabet A : Receives a Buy rating from JP Morgan.txt @@ -0,0 +1 @@ +Already positive, the research from JP Morgan and its analyst Douglas Anmuth still consider the stock as a Buy opportunity. The target price is still set at USD 118. \ No newline at end of file diff --git a/news/GOOGL/2023.02.09/Euronext has no plans to copy rivals with cloud computing deal.txt b/news/GOOGL/2023.02.09/Euronext has no plans to copy rivals with cloud computing deal.txt new file mode 100644 index 0000000000000000000000000000000000000000..f5feafc71c139ce38a5b614acf9655f711d15842 --- /dev/null +++ b/news/GOOGL/2023.02.09/Euronext has no plans to copy rivals with cloud computing deal.txt @@ -0,0 +1 @@ +London Stock Exchange Group, CME and Nasdaq have all announced partnerships with cloud computing giants like Alphabet, Amazon and Microsoft, with Deutsche Boerse joining them on Thursday in a "strategic partnership" with Google."One of the reasons why we are cautious about the use of data centres of Microsoft, Google and Amazon for critical parts of what we do is because our core supervisors and regulators are themselves very cautious," Boujnah told Reuters on Thursday.Euronext only uses a cloud provider for storing historical data, he said."When it comes to strategic applications such as real-time data and operations of the market, we do not want them to be stored and operated by the data centres of companies which have decision-making centres outside the EU, and physical infrastructure outside the EU," Boujnah added.Euronext said earlier on Thursday it has postponed until further notice a weekly report on positions held in its commodity derivatives, as disruption from a ransomware attack on financial data firm ION Group outside the bloc continued."We analyse very carefully the dependency on certain providers," Boujnah said as Euronext reported full year earnings.Earlier this week, the Bank for International Settlements said a "rethink" is needed on regulating how finance is becoming increasingly dependent on outside parties like cloud firms, which new EU rules will address.Euronext reported record full-year 2022 revenue and income of 1.418 billion euros ($1.52 billion), up 9.3% on 2021 due to consolidating its acquisition of Borsa Italiana.Adjusted earnings per share in 2022 was down 4.8% at 5.21 euros due to higher share count, and the company proposes to pay a dividend of 2.22 euros per share. Euronext said it has increased its 2024 annual pre-tax savings related to integrating Borsa Italiana by 15 million euros to 115 million, with around 70 million of this achieved by the end of 2023 as implementation costs remain unchanged.The savings are nearly double what was promised at the deal's outset."This further demonstrates Euronext's successful track record in integrating acquired companies," Boujnah said.($1 = 0.9307 euros) (Reporting by Huw Jones; Editing by Alexander Smith)By Huw Jones \ No newline at end of file diff --git a/news/GOOGL/2023.02.09/Futures rise on earnings optimism, Disney climbs on revamp plan.txt b/news/GOOGL/2023.02.09/Futures rise on earnings optimism, Disney climbs on revamp plan.txt new file mode 100644 index 0000000000000000000000000000000000000000..2decb09d792ee46bc1aca2324f2671cf441ab433 --- /dev/null +++ b/news/GOOGL/2023.02.09/Futures rise on earnings optimism, Disney climbs on revamp plan.txt @@ -0,0 +1 @@ +Walt Disney Co climbed 6.6% in premarket trading after topping earnings estimates and announcing 7,000 job cuts as part of an effort to save $5.5 billion in costs and make its streaming business profitable.Casino stocks Wynn Resorts and MGM Resorts International gained about 5% each after reporting fourth-quarter results, with Wynn indicating a meaningful return of visitation and demand in Macau during the recent Chinese New Year holiday period.PepsiCo Inc rose 1.4% as the soda maker reported better-than-expected results for its fourth quarter.  Tobacco firm Philip Morris International Inc, drugmaker Abbvie Inc, apparel maker Ralph Lauren Corp and cereal maker Kellogg Co are all set to report earnings during the day.Of more than half of the S&P 500 companies that have reported fourth-quarter results so far, 69% have topped analysts' earnings estimates, as per Refinitiv IBES data. In a typical quarter 66% top estimates. U.S. stock indexes have enjoyed an upbeat start to the year, largely driven by hopes that the Federal Reserve is nearing the end of its interest rate-hike cycle and data signaling resilience in the economy.However, equity markets have wavered in the recent days as Fed officials acknowledged the cooling in U.S. inflation but said that more interest rate rises are in the cards amid evidence of a still-strong labor market.Data at 8:30 a.m. ET is expected to show the number of Americans filing for unemployment benefits rose to 190,00 in the week ended Feb. 4, after an increase of 183,00 in the previous week.  Megacap stocks including Meta Platforms, Apple Inc, Microsoft Corp, Google-parent Alphabet climbed in the range of 1% to 2% as U.S. Treasury yields extended declines. [US/]At 5:55 a.m. ET, Dow e-minis were up 254 points, or 0.75%, S&P 500 e-minis were up 37.25 points, or 0.9%, and Nasdaq 100 e-minis were up 162.5 points, or 1.3%.Tesla Inc firmed 3.7% as a U.S. safety board said it found no evidence a Tesla Model S was operating on Autopilot during an April 2021 fatal crash.Salesforce Inc edged 1.6% higher as a source familiar with the matter told Reuters that hedge fund Third Point LLC owns a stake in the company. (Reporting by Sruthi Shankar, Medha Singh and Johann M Cherian in Bengaluru; Editing by Sriraj Kalluvila) \ No newline at end of file diff --git a/news/GOOGL/2023.02.09/Google loses its Alphabet.txt b/news/GOOGL/2023.02.09/Google loses its Alphabet.txt new file mode 100644 index 0000000000000000000000000000000000000000..93b636befda33191ed1734e0030fcb856b824016 --- /dev/null +++ b/news/GOOGL/2023.02.09/Google loses its Alphabet.txt @@ -0,0 +1,54 @@ + +In New York, the session was also marked by the individual rather than the collective. The Dow Jones gave up 0.6%, the S&P500 about 1.1% and the Nasdaq 100 more than 1.8%. It must be said that the U.S. technology index paid a heavy price to Alphabet, which collapsed by 7.4%. The parent company of Google paid a high price for the obviously untimely launch of its discussion tool based on artificial intelligence Bard. The group flaunted itself in style by releasing a promotional video in which Bard gets the James Webb telescope wrong. Asked about discoveries to be credited to the telescope, Bard said it was the first to take pictures of a planet outside the solar system, while a European telescope had done so long before it, in 2004. This may be a detail to you, but in the field of artificial intelligence it means a lot, especially that Bard is fallible on a relatively simple question. It's messy, especially when the sequence is used for marketing purposes. One can feel that the Californian group has tried to make a date in the nascent but already merciless competition of artificial intelligence "creators" of content, in the wake of the ChatGPT phenomenon. For a trial run, it was a shot in the arm, or in the foot, it remains to be seen. +It is also, from my point of view, a golden opportunity to remind us that the wheel sometimes turns and that situations that seem to last forever rarely do. This is perhaps what scares investors in Alphabet a little, and certainly Alphabet's managers themselves. Imagine: what if the Microsoft-ChatGPT combination created a must-have search engine? By turning this big loser Bing into a market leader, thanks to features that are far superior to the competition (you can read this article from the Wall Street Journal about the first steps with Microsoft's new solution). It's hard to imagine Google going from 90% to 8% of the search engine market. But ask Nokia executives if they thought they would go from 40% to 0 of the cell phone market in a few years (yes, young investor, Nokia made mobiles). And ask Yahoo executives if they thought the company would be demoted from the undisputed leader of the web to a lilliputian in the sector. +Beyond the case of Alphabet, technology stocks lost ground yesterday. Investors remain in a two steps forward, one step back mode, depending on the oracles about the US central bank's intentions regarding its rate policy. In 2022, these intentions were also at the center of the game but it was more like one step forward, three steps back. So sentiment has improved as the presumed end of the rate hike cycle approaches. +With the macroeconomic agenda still rather thin, it is the corporate results that dominate the discussions. With a good big batch this morning, since Thursday is traditionally the busiest day of the week in this respect with Visa, AbbVie, PepsiCo or PayPal. At 8:30 am, we will still take a look at the weekly employment figures in the United States, which serve as a crucial indicator of the Federal Reserve's monetary policy outlook. +In other news, Volodymyr Zelensky has continued to convince his allies to provide equipment to his troops. The Ukrainian president was in London and Paris yesterday and will be in Brussels this morning. In Turkey and Syria, the death toll from the two devastating earthquakes continues to rise. +Economic highlights of the day: +The market will keep an eye on the weekly US unemployment figures (8:30 am). All the agenda here. +  +The dollar remains in the 0.9295 EUR area. The ounce of gold is stagnating around 1880 USD. Oil has recovered, with North Sea Brent crude at USD 85.10 per barrel and US WTI light crude at USD 78.64. The yield on 10-year US debt is around 3.61%. Bitcoin is back down to around 22,600 USD. +  +In corporate news: +  + +* Walt Disney on Wednesday announced a major restructuring, splitting into three units and cutting some 7,000 jobs, or about 3.6% of the group's total workforce, as part of a plan to save $5.5 billion and make its streaming business profitable. The stock is up 6.6% in pre-market trading. +  +* Mattel - The maker of Barbie dolls and Fisher-Price toys warned Wednesday that its 2023 earnings would be lower than expected because of the impact of inflation on consumption. +  +* Robinhood Markets on Wednesday reported higher fourth-quarter revenue as the online brokerage benefited from a jump in interest income. In addition, it announced plans to buy back its shares from Emergent Fidelity Technologies, owned by Sam Bankman-Fried, the former boss of cryptocurrency trading platform FTX. +  +* Pepsi reported better-than-expected fourth-quarter sales and profit on Thursday, thanks to price hikes to offset soaring costs. The group's stock, which also raised its dividend by 10%, gained 1.3% in premarket trading. +  +* Hilton said Thursday it expects adjusted earnings of between $5.42 and $5.68 per share in 2023 after reporting a rise in quarterly profit, helped by strong travel demand and high room rates. +  +* Wynn Resorts and MGM advance about 5% in pre-market trading after their fourth-quarter results, with Wynn Casino Group reporting a significant return in Macau attendance and demand during the Chinese New Year vacation. +  +* Tapestry, the maker of Coach and Kate Spade handbags, raised its annual earnings forecast Thursday, and now says it expects earnings of $3.70 to $3.75 per share in 2023, up from a previous estimate of $3.60 to $3.70. +  +* Affirm - The fractional payments group on Wednesday announced a restructuring plan to cut about 500 jobs, or about 19% of its workforce. +  +* JP.Morgan cut hundreds of jobs from its mortgage business. +  +* Salesforce - Hedge fund Third Point has a stake in the computer giant, which is under pressure from four activist investors to make changes. +  +* Abbott agreed to acquire medical device maker Cardiovascular Systems Inc (CSI) for $837.6 million. +  +* Philip Morris, Kellogg's, Ralph Lauren, among others, are scheduled to report earnings this Thursday.  +  +Analyst recommendations: + +Black Hills: Mizuho Securities cut the recommendation to underperform from neutral. Price target set to $60. +Bunge: Baird downgrades to neutral from outperform. PT set to $115. +Capri Holdings: Bernstein cut the target to $56 from $63. Maintains market perform rating. +CDW: Raymond James maintains outperform rating. Price target upgrades to $220 from $200. +Diodes: Benchmark Company raised the price target to $105 from $ 90. +FormFactor: Needham & Co raised the target to $36 from $28. Maintains buy rating. +Maximus: Raymond James maintains outperform rating. Price target up to $100 from $80. +MGM Resorts International: Stifel raised the target to $53 from $46. Maintains buy rating. +Nabors Industries: Susquehanna Financial elevated the objective to $215 from $189 maintaining neutral rating. +Under Armour: Barclays maintains overweight rating. PT up to $13 from $10. +Walt Disney: Guggenheim Securities raised the target to $140 from $115. Maintains buy rating. +Wynn Resorts: Stifel maintains buy rating. Price target up to $127 from $115. + + diff --git a/news/GOOGL/2023.02.09/How a band of Ukraine civilians helped seal Russia's biggest defeat.txt b/news/GOOGL/2023.02.09/How a band of Ukraine civilians helped seal Russia's biggest defeat.txt new file mode 100644 index 0000000000000000000000000000000000000000..3a2eaf11442106b8442d866ba7d7353e3c2eb675 --- /dev/null +++ b/news/GOOGL/2023.02.09/How a band of Ukraine civilians helped seal Russia's biggest defeat.txt @@ -0,0 +1 @@ +The task was assigned to Dollar: the code name for a civilian who had been secretly providing targeting coordinates and information on enemy operations in Kherson and the surrounding region, the operative said.Reuters held extensive interviews with Dollar and two other members of the underground partisan network in Kherson after the city was captured in early November.Their separate accounts provide a rare window into how information and sabotage operations were coordinated with Ukrainian intelligence services behind enemy lines, operations that are still ongoing elsewhere in Ukraine.While Reuters could not corroborate the specific events they described, two U.S. officials said that such operations by an underground of intelligence operatives, ex-soldiers and amateurs helped hasten Russia's withdrawal from Kherson - one of the biggest setbacks for the Kremlin in a war that marks its first anniversary on Feb. 24.Dollar, who declined to give his name for security reasons, said he began driving by the Hotel Ninel - Lenin spelled backwards - with his wife, a fellow operative who is part of the network and uses the code name Kosatka, Ukrainian for killer whale.The gun-toting security men they regularly saw outside the hotel convinced the couple that FSB officers were staying inside; Dollar said he texted his observations to his handler at the Security Service of Ukraine (SBU).Ukraine's SBU and Russia's FSB did not respond to requests for comment on Dollar's account or other partisan operations. The defense ministry also did not respond to requests for comment.Before dawn on Oct. 5, a huge explosion ripped through the hotel, according to Ukrainian media reports and regional lawmaker Serhii Khlan, who wrote on Facebook that two FSB officers and seven Russian military officials died."I received an SMS (text) that said, 'Have a look and see how the Hotel Ninel is doing,'" recalled Dollar, who took Reuters to view the shattered hulk. "I went over and reported back: 'There is no more Hotel Ninel.'"Reuters was unable to review the text message. Dollar and other partisans say they regularly deleted their chats and social media for security reasons.Dollar and Kosatka received decorations from Ukrainian Defense Minister Oleksii Reznikov inscribed with thanks for "cooperating with the armed forces," according to a photograph seen by Reuters dated Dec. 1 in which the inscriptions are visible. Mart and Kolia, the other two members of their four-person cell, were also decorated by Reznikov, Dollar said.Asked about resistance operations in occupied territory, an official from Ukraine's Main Directorate of Intelligence (GUR) said "the local population is supportive," declining to provide details of specific activities.Operations to target Russian security personnel and disrupt their plans are continuing across swathes of eastern and southern Ukraine held by Russia and its allies, according to several Ukrainian and Russian-installed officials as well as members of the Kherson partisan cell.The Institute for the Study of War also says Ukrainian partisan warfare is being waged in Melitopol, Tokmak and Mariupol in the south and Donetsk and Svatove in the east.Serhiy Haidai, the exiled governor of the eastern Luhansk province which has been under Russian control since last June, said partisans there were conducting sabotage operations there and attacks on suspected Russian collaborators.In an interview on Jan. 23, he credited partisans with a recent attack on a railway line that Russia's military was using to transport troops and equipment. He declined to provide further details for security reasons and Reuters could not independently confirm partisan involvement in the attacks.CAPTURED PARTISANSRisking arrest, interrogation, torture and death, partisans in Kherson hung Ukraine's blue-and-yellow national colors on trees and relayed Russian positions on Google Earth and other online maps to Ukrainian security officials, Dollar said.Vitalyi Bogdanov, 51, a regional council member, said that during the eight-month Russian occupation, he collected and relayed to law enforcement authorities in Kyiv information later used to launch investigations into suspected collaborators."We were able to start a very big number of criminal cases," he said. He declined to provide further details because the investigations were ongoing.Kolia, part of the 4-member Kherson cell, said that the group was told by its handlers not to use firearms because information was a more potent weapon.Other partisans took up arms.Alexei Ladin, a lawyer in Russian-occupied Crimea, told Reuters he was defending two Ukrainians held there, accused by the FSB of violent attacks against the Russians.Pavlo Zaporozhets served in the Ukrainian army from 2014-17 and joined Ukraine's GUR military intelligence during the occupation of Kherson, Ladin said. Zaporozhets was arrested while attempting to attack a Russian military night patrol and faces up to life imprisonment on charges of international terrorism, Ladin said.He said Zaporozhets was being held in a detention facility in Simferopol and that he and his client attended a preliminary court hearing in the Russian port city of Rostov-on-Don by video link on Feb. 2. The court ordered Zaporozhets' transfer to a facility in Rostov, Ladin said.According to an FSB account seen by Reuters, Zaporozhets, then 31, was arrested in Kherson by FSB officers on May 9 carrying two grenades, a fishing line and two plastic bottles that he had made into homemade bombs.Zaparozhets told his questioners he was contacted by a Ukrainian GUR handler codenamed Optium and agreed to carry out his orders for 30,000 hryvnias ($800) a month, according to the FSB case documents seen by Reuters. Ladin said the FSB account was based on testimony obtained when his client was tortured during questioning and showed Reuters a copy of a handwritten note from Zaporozhets dated from last August in which he described being beaten and subjected to electric shocks while in custody.   While some details about the FSB account were true, Ladin said, the FSB falsely accused Zaporozhets of deliberately targeting civilians as well as the night patrol. The military action was meant to be carried out during the curfew with intention of avoiding civilian casualties, Ladin said.Ladin said the "optimal solution" would be an exchange of Zaporozhets and another client, Yaroslav Zhuk - who was arrested in Melitopol in June and accused of setting off a home-made bomb - for Russian POWs held by Ukraine. Zhuk denies attacking civilian targets, Ladin said.The FSB has declined to recognize Zaporozhets as a Ukrainian serviceman eligible for a prisoner swap, saying they could not verify a document presented by the defense confirming his status, Ladin said. In the case of Zhuk, Ladin says his client is a combatant covered by the Geneva convention; the FSB has not accepted the designation.Reuters was unable to speak to the two detainees directly. FLEEING KHERSONDollar, Kolia and Mart - another member of the cell - said they felt compelled to resist the Russian takeover of Kherson because there was no organized defense of their city when the Russians attacked on Feb. 24.Dollar and Mart's first overt bid to confront the Russians came on March 1, they said, when they drove a truck loaded with concrete blocks toward the Antonovskiy Bridge, a main entry point to the city, aiming to slow Russia's advance.     They turned around because they feared the invaders already were in the city, they said.    Dollar considered his options: organize a civil disobedience movement, take up arms or gather intelligence.    Friends put him in touch with an SBU officer. Dollar and Kolia, who were old friends, agreed to collect and relay information on the Russians and build a network of retired police officers, former SBU officials, pensioners, and others, they said.Kolia, a seasoned hunter who knew the Kherson countryside, solicited information from local villagers, including an elderly woman who would count Russian convoys as she milked her cow.Between reconnaissance forays, the pair would meet sources in a coffee shop to gather intelligence.Over the summer one farmer gave Kolia the position of a Russian truck-mounted missile launcher known as a Tochka-U around the village of Muzykivka, about 12 km (7.5 miles) north of Kherson. Dollar said he passed on the information.    The next day the farmer reported to Kolia that there was only a hole in the road where the truck once stood, Dollar said. Reuters could not independently confirm the attack.    Dollar's wife, Kosatka, recruited her own network of informants, he said. Kosatka declined to comment for this story.    THE AIRPORT     At the same time, Mart pursued an independent intelligence gathering effort, visiting people living near the Kherson International Airport in Chornobaivka on April 10 and urging them in person and over Telegram chats to send him information about Russian troop movements. He codenamed his five-person cell Miami. Reuters did not view the chats, which Mart said he deleted.Russian forces in March had established their headquarters within the three-square kilometre airport complex, which was repeatedly bombed by Ukrainian forces.Kyiv said large numbers of Russians soldiers were killed, including at least two generals, while aircraft and ammunition stores were also destroyed. Moscow withdrew its military hardware in October.    As Russian losses mounted, some members of the cell Mart had recruited grew over-confident and began taking greater risks, said Mart and Dollar.    When the Russians arrested four of the Miami members at the end of August, Mart feared they would give him away. Reuters was unable to determine what later happened to the four members.    Mart fled to Vasliyevka village in Zaporizhzhia  province, the only checkpoint where Russians allowed Ukrainian civilians to cross into Ukrainian-controlled territory, and then made his way to Kyiv.    Despite the liberation of Kherson, Dollar said he and Kosatka would continue aiding the resistance until Ukrainian troops recover Crimea, where the couple owns an apartment.              "The end of the war for me will be when I move back into my apartment," he said. (Reporting by Jonathan Landay and Tom Balmforth; Editing by Mike Collett-White and Suzanne Goldenberg)By Jonathan Landay and Tom Balmforth \ No newline at end of file diff --git a/news/GOOGL/2023.02.09/Indonesia drafts law enabling media to receive payments from digital platforms for cont...txt b/news/GOOGL/2023.02.09/Indonesia drafts law enabling media to receive payments from digital platforms for cont...txt new file mode 100644 index 0000000000000000000000000000000000000000..0c6ff0331517b20640ccdf6d3e4198e4e5b1a5a0 --- /dev/null +++ b/news/GOOGL/2023.02.09/Indonesia drafts law enabling media to receive payments from digital platforms for cont...txt @@ -0,0 +1 @@ +The new law is expected to level the playing field between media and tech firms in terms of providing content and generating profit, said Arif Zulkifli, a member of Indonesia's Press Council.The law, proposed two years ago, was inspired by similar legislation in Germany and Australia, and is expected to be issued as a presidential regulation within a month. Digital platforms in Indonesia include Facebook, Alphabet Inc's